Simple approaches on how to discover promising strategies for efficient enterprise performance, at time of crisis in the case of SMEs: Voronoi clustering and outlier effects perspective

DOI10.1007/978-3-030-56160-4_1MaRDI QIDQ5054196zbMATH OpenOpenAlexFDO

Authors Francesca Bartolacci, Nicola G. Castellano, Roy Cerqueti, Marcel R. Ausloos

Publication date 29 November 2022

Published in Simplicity of Complexity in Economic and Social Systems (Search for Journal in Brave)

Full work available at URL https://arxiv.org/abs/2012.14297

Mathematics Subject Classification ID

Combinatorial aspects of tessellation and tiling problems (05B45) Corporate finance (dividends, real options, etc.) (91G50)

Abstract: This paper analyzes the connection between innovation activities of companies -- implemented before a financial crisis -- and their performance -- measured after such a time of crisis. Pertinent data about companies listed in the STAR Market Segment of the Italian Stock Exchange is analyzed. Innovation is measured through the level of investments in total tangible and intangible fixed assets in 2006-2007, while performance is captured through growth -- expressed by variations of sales or of total assets, -- profitability -- through ROI or ROS evolution, - and productivity -- through asset turnover or sales/employee in the period 2008-2010. The variables of interest are analyzed and compared through statistical techniques and by adopting a cluster analysis. In particular, a Voronoi tessellation is implemented in a varying centroids framework. In accord with a large part of the literature, we find that the behavior of the performance of the companies is not univocal when they innovate. The statistical outliers are the best cases in order to suggest efficient strategies. In brief, it is found that a positive rate of investments is preferable.

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Cites work

• A Voronoi-based heuristic algorithm for locating distribution centers in disasters
• Cluster structure of EU-15 countries derived from the correlation matrix analysis of macroeconomic index fluctuations
• Clusters in weighted macroeconomic networks: the EU case. Introducing the overlapping index of GDP/capita fluctuation correlations

Cited in

(2)

• Analyzing the efficiency of working capital management: a new approach based on DEA-Malmquist technology
• Innovation management in small and medium-sized enterprises. Development of innovation -- experiences in Poland

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