Through the methodology of a case study, this paper presents a holistic analysis of the relationship between innovation capacity, entrepreneurial orientation, flexibility, and environmental factors. Three studies were conducted in the context of chemical-pharmaceutical industries, SMEs, in a small economy. Likewise, they analyze the relationship between the innovation capacity and internationalization of those companies. The studies provide further evidence of the relationships between areas of interest, where links among entrepreneurial orientation, flexibility, externalities (local and international), and innovation capacity are clear. Finally, this paper contributes to the theory-building on innovation capacity and internationalization from a scholarly perspective while presenting a practical view for practitioners.

This study examines the moderating function of corporate governance (CG) to the relationship between leverage and firm value (FV) using Korean market data. The study employs ordinary least-squares panel data regressions and two methods to manage endogeneity problems. The findings show a meaningful negative relationship between leverage and FV. This relationship, however, disappears, when the interaction variable of leverage × CG is included in the econometric model. These results indicate that an effective CG mechanism may lessen the probability of either the entrenched management-decision-making behavior or the agency costs of debt and, therefore, the negative effect of debt to FV diminishes. Moreover, our data show that the relationship between leverage and FV becomes positive, even though insignificant, for firms with a high level of CG, whereas it stays significantly negative for firms with a low level of CG. We also find that leverage for firms with a high level of CG is lower than those firms with a low level of CG. These additional findings support our conclusion of the moderating role of CG, which also influences the firms’ risk, leverage, and FV. The authors recommend the implementation of a robust CG plan to decrease the information asymmetry and the agency leverage problem.

Small, medium, and micro enterprises make important contributions to economic growth and employment. Based on evidence from of the tire processing industry in Ecuador, this article assesses the development prospects for such companies in the context of the transition to a circular economy. The methodological basis of the study is scenario planning. Five scenario hypotheses are proposed and the probability of their implementation is estimated. The most optimal scenario (in which all five hypotheses are realized) is feasible and subject to a set of measures, including the development of new management and marketing tools, the involvement of universities and research centers in the creation of new low-cost waste processing technologies, and the organization of a special fund to support research and development in companies focused on the circular model.

Innovation capability contributes to the competitiveness of a country. However, due to the multi-faceted nature of this dynamic capability, its development is considered a risky task. Thus, it is critical to concentrate the efforts on the determinants that might provide a higher impact on sustaining the development of this capability, particularly for a developing country with limited resources. This work presents a systematic literature review examining 14 innovation determinants to advance the understanding of their impact on countries’ innovation capability. This research studied the literature by qualitative strategies to categorize and contextualize the findings. It also includes the contribution made by experts from a developing country through interviews. The selected publications and the interviews provided fundamental elements to identify the impact and linkages of the innovation determinants on the development of innovation capability. From here, a conceptual framework is outlined proposing an incremental loop that encompasses five stages: (1) government support, (2) implementation of innovation agencies, (3) R&D projects between U-I, (4) innovation clusters development, and (5) innovation output achievement. These stages systematize practical strategies regarding the 14 determinants posing a path to sustain the growth of this capability in the context of developing countries, contributing from theoretical and practical standpoints.

Higher education institutions have undergone essential transformations in recent decades, driven by legislative reforms and changes in social and economic demands. This study examines the factors that influence the continuous improvement of educational quality in Ecuador’s private higher education institutions (HEIs). A quantitative, cross-sectional, descriptive–correlational study was conducted to analyze the adaptation of HEIs to new realities, student mobility, technological development, sustainability practices, and innovation. The results indicate that technological development and environmental sustainability are key elements. There is a strong correlation between technological development and adaptation to the world of work. This suggests that integrating sustainable practices and university–industry cooperation is critical in improving the quality of higher education in Ecuador. In addition, student mobility and graduate follow-up programs are positively related to labor market adaptation and internationalization. These findings suggest the need for a holistic approach to quality assurance and provide practical guidelines for Ecuadorian HEIs to improve their performance in a rapidly changing context.

This study examined how entrepreneurs in the tourism sector can develop competitive advantages in a highly competitive environment. The relationship between innovation strategies, business networks, and service innovation was investigated using a PLS-SEM analysis with a sample of 32 tourism enterprises in Ecuador, namely, Cotacachi, Otavalo, and Quiroga. A structured questionnaire was used to evaluate service innovation, strategic renewal, and the development of business networks. The results indicate that internal knowledge sharing, process optimization, and the creation of new services drive creative strategies. Simultaneously, innovation and strategic renewal are positively associated with participation in business networks. In addition, access to external financing was identified as a key factor in enhancing innovation. These findings underscore the importance of designing public policies that promote tourism innovation through comprehensive programs combining access to finance, strengthened business networks, and internal capacity training. This paper offers strategic insights into the competitiveness and sustainability of tourism enterprises in emerging economies.