Mutual Effects Between Innovation Commitment and Exports: Evidence from the Owner-Manager in Colombia
Latin America and the Caribbean is recognized as a region of entrepreneurs, as evidenced by the high amount of ventures per capita; however, just a few number of companies export and most of them show a weak growth and little innovation. Using information from the GEM database – Colombia 2010 and 2011, this study investigates the mutual effects between the owner-manager’s commitment to innovation and the export behavior of companies. Logistic and Ordinal regression models are used to test the proposed hypotheses in this study.The main findings of this study suggest that the owner-manager’s commitment to innovation is an important booster for exports, as well as for increasing sales abroad. Furthermore, the results suggest that the export propensity, in turn, increases the likelihood of involvement of owner-managers to innovate in Colombia.