The aim of this paper is to investigate the determinants of innovation activities and their impact on firm performance. For the empirical analysis of the study we employ Business Environment Enterprise Performance Surveys (BEEPS) firm-level data conducted by the World Bank and the European Bank...

Innovation is a driving force for enhancing firms' efficiency and productivity. The importance of innovation is also recognized at economy level, namely increase in R&D and innovation activities will help the creation of new jobs, prosperity and improvement of the standards of living. In order...