Proceedings of the International Conference on Business, Management and Finance
Determinants of Innovation across Nigeria Enterprises: Does Size and Region Matter?
Patrick Eyamba, Asst. Prof. Dr. Ikechukwu D. Nwaka
Will the ally of size and region (Location) serve a catalyzing ingredient for innovation across enterprises in Nigeria? Interestingly, many enterprises have since deemed it fit to make effort to advance in their operation because their level of innovativeness today might be identified with as the least tomorrow given the level of general widespread extension recorded among other competitors. Hence, the study seeks to address the determinants of innovation across Nigeria enterprises given the interplay of a firms size and region (location) using the Probit regression estimation method in examining the Nigeria Enterprise Survey Data for 2,676 enterprises for the year 2014. Evidence from the study reveals that a firm’s region (location) and size significantly influence the firm’s innovativeness in their deals of doing business at 0.05 (5%) significant level. Therefore, the study recommends the establishment of inter-link infrastructures that cut across region of the economy in order to facilitate their ability to take up innovative challenges and also the promotion of credit facility scheme (in form of venture capital fund) to help promote the activities of infant firms and existing enterprises, limitations and the further research areas are discussed.
Key Words: Innovation, Small and Medium Enterprises (SMEs), Probit Regression, Nigeria وEnterprise Survey.