Innovation activities and their impact on product innovation results: evidence from a sectorial study

In the current competitive context, innovation has become a necessity, to the point that it seems that no company can survive without developing innovation processes. One of the great concerns of small and medium-sized companies is about the investment of resources in innovation activities and their...

Full description

Autores:
Chang muñoz, eduardo
Guarin Garcia, Andres Felipe
Charris Sevilla, Yuneidis
Gallego-Nicholls, José Fernando
Santos-Rojo, Cristina
Ortigosa-Blanch, Arturo
Tipo de recurso:
Article of investigation
Fecha de publicación:
2023
Institución:
Corporación Universidad de la Costa
Repositorio:
REDICUC - Repositorio CUC
Idioma:
eng
OAI Identifier:
oai:repositorio.cuc.edu.co:11323/10217
Acceso en línea:
https://hdl.handle.net/11323/10217
https://repositorio.cuc.edu.co/
Palabra clave:
Product innovation
PLS-SEM
Small and medium-sized enterprises (SMEs)
Innovation activities
Competitive advantage
Rights
openAccess
License
Atribución-NoComercial-SinDerivadas 4.0 Internacional (CC BY-NC-ND 4.0)
id RCUC2_635b318620c69b8b175012ffe5f31dab
oai_identifier_str oai:repositorio.cuc.edu.co:11323/10217
network_acronym_str RCUC2
network_name_str REDICUC - Repositorio CUC
repository_id_str
dc.title.eng.fl_str_mv Innovation activities and their impact on product innovation results: evidence from a sectorial study
title Innovation activities and their impact on product innovation results: evidence from a sectorial study
spellingShingle Innovation activities and their impact on product innovation results: evidence from a sectorial study
Product innovation
PLS-SEM
Small and medium-sized enterprises (SMEs)
Innovation activities
Competitive advantage
title_short Innovation activities and their impact on product innovation results: evidence from a sectorial study
title_full Innovation activities and their impact on product innovation results: evidence from a sectorial study
title_fullStr Innovation activities and their impact on product innovation results: evidence from a sectorial study
title_full_unstemmed Innovation activities and their impact on product innovation results: evidence from a sectorial study
title_sort Innovation activities and their impact on product innovation results: evidence from a sectorial study
dc.creator.fl_str_mv Chang muñoz, eduardo
Guarin Garcia, Andres Felipe
Charris Sevilla, Yuneidis
Gallego-Nicholls, José Fernando
Santos-Rojo, Cristina
Ortigosa-Blanch, Arturo
dc.contributor.author.none.fl_str_mv Chang muñoz, eduardo
Guarin Garcia, Andres Felipe
Charris Sevilla, Yuneidis
Gallego-Nicholls, José Fernando
Santos-Rojo, Cristina
Ortigosa-Blanch, Arturo
dc.subject.proposal.fra.fl_str_mv Product innovation
topic Product innovation
PLS-SEM
Small and medium-sized enterprises (SMEs)
Innovation activities
Competitive advantage
dc.subject.proposal.eng.fl_str_mv PLS-SEM
Small and medium-sized enterprises (SMEs)
Innovation activities
Competitive advantage
description In the current competitive context, innovation has become a necessity, to the point that it seems that no company can survive without developing innovation processes. One of the great concerns of small and medium-sized companies is about the investment of resources in innovation activities and their success. Therefore, this article analyzes the influence of different innovation activities performed by small and medium-sized enterprises (SMEs) of the Colombian Caribbean region on their product innovation outcomes and thereby provides a solid groundwork for the design of innovation strategies. To achieve this objective, a data collection instrument was first validated in 56 SMEs, followed by the application of a reflective measurement model with convergent validity analysis. The results of the model application revealed that investment in Research and Development (R&D) and innovation, knowledge transfer, technology adoption, and financial aspects explain to a greater extent the introduction of new products to the market.
publishDate 2023
dc.date.accessioned.none.fl_str_mv 2023-06-01T22:21:58Z
dc.date.available.none.fl_str_mv 2023-06-01T22:21:58Z
dc.date.issued.none.fl_str_mv 2023
dc.type.spa.fl_str_mv Artículo de revista
dc.type.coar.spa.fl_str_mv http://purl.org/coar/resource_type/c_2df8fbb1
dc.type.content.spa.fl_str_mv Text
dc.type.driver.spa.fl_str_mv info:eu-repo/semantics/article
dc.type.redcol.spa.fl_str_mv http://purl.org/redcol/resource_type/ART
dc.type.version.spa.fl_str_mv info:eu-repo/semantics/publishedVersion
dc.type.coarversion.spa.fl_str_mv http://purl.org/coar/version/c_970fb48d4fbd8a85
format http://purl.org/coar/resource_type/c_2df8fbb1
status_str publishedVersion
dc.identifier.citation.spa.fl_str_mv Chang-Muñoz, E.A.; Guarín-García, A.F.; Charris-Sevilla, Y.; Gallego-Nicholls, J.F.; Santos-Rojo, C.; Ortigosa-Blanch, A. Innovation Activities and Their Impact on Product Innovation Results: Evidence from a Sectorial Study. Sustainability 2023, 15, 6459. https://doi.org/10.3390/su15086459
dc.identifier.uri.none.fl_str_mv https://hdl.handle.net/11323/10217
dc.identifier.doi.none.fl_str_mv 10.3390/su15086459
dc.identifier.eissn.spa.fl_str_mv 2071-1050
dc.identifier.instname.spa.fl_str_mv Corporación Universidad de la Costa
dc.identifier.reponame.spa.fl_str_mv REDICUC – Repositorio CUC
dc.identifier.repourl.spa.fl_str_mv https://repositorio.cuc.edu.co/
identifier_str_mv Chang-Muñoz, E.A.; Guarín-García, A.F.; Charris-Sevilla, Y.; Gallego-Nicholls, J.F.; Santos-Rojo, C.; Ortigosa-Blanch, A. Innovation Activities and Their Impact on Product Innovation Results: Evidence from a Sectorial Study. Sustainability 2023, 15, 6459. https://doi.org/10.3390/su15086459
10.3390/su15086459
2071-1050
Corporación Universidad de la Costa
REDICUC – Repositorio CUC
url https://hdl.handle.net/11323/10217
https://repositorio.cuc.edu.co/
dc.language.iso.spa.fl_str_mv eng
language eng
dc.relation.ispartofjournal.spa.fl_str_mv Sustainability
dc.relation.references.spa.fl_str_mv 1. Bagheri, M.; Mitchelmore, S.; Bamiatzi, V.; Nikolopoulos, K. Internationalization Orientation in SMEs: The Mediating Role of Technological Innovation. J. Int. Manag. 2019, 25, 121–139. [CrossRef]
2. Ortiz, J.; Fumás, V.S. Technological innovation and the demand for labor by firms in expansion and recession. Econ. Innov. New Technol. 2020, 29, 417–440. [CrossRef]
3. Centro de Estudios Económicos ANIF, Comentario Económico del Día. Available online: www.anif.com.co (accessed on 27 October 2022).
4. Castillo-Vergara, M.; García-Pérez-De-Lema, D. Product innovation and performance in SME’s: The role of the creative process and risk taking. Innovation 2021, 23, 470–488. [CrossRef]
5. Hervas-Oliver, J.L.; Sempere-Ripoll, F.; Boronat-Moll, C. Technological innovation typologies and open innovation in SMEs: Beyond internal and external sources of knowledge. Technol. Forecast. Soc. Chang. 2021, 162, 120338. [CrossRef]
6. Muñoz-Pascual, L.; Galende, J.; Curado, C. Contributions to Sustainability in SMEs: Human Resources, Sustainable Product Innovation Performance and the Mediating Role of Employee Creativity. Sustainability 2021, 13, 2008. [CrossRef]
7. Nuryakin, N.; Maryati, T. Green product competitiveness and green product success. Why and how does mediating affect green innovation performance? Entrep. Sustain. Issues 2020, 7, 3061–3077. [CrossRef]
8. Aboal, D.; Garda, P. Technological and non-technological innovation and productivity in services vis-à-vis manufacturing sectors. Econ. Innov. New Technol. 2016, 25, 435–454. [CrossRef]
9. Jeong, S.W.; Chung, J.-E.; Roh, J.-S. Impact of External Knowledge Inflow on Product and Process Innovation of Korean SMEs: Absorptive Capacity as a Mediator. Cloth. Text. Res. J. 2019, 37, 219–234. [CrossRef]
10. Ukpabio, M.G.; Adeyeye, A.D.; Oluwatope, O.B. Absorptive capacity and product innovation: New evidence from Nigeria. Innov. Dev. 2016, 6, 213–233. [CrossRef]
11. Almodóvar, P.; Nguyen, Q.T. Product innovation of domestic firms versus foreign MNE subsidiaries: The role of external knowledge sources. Technol. Forecast. Soc. Chang. 2022, 184, 122000. [CrossRef]
12. Antunes, M.G.; Mucharreira, P.R.; Justino, M.R.T.; Texeira-Quirós, J. Effects of Total Quality Management (TQM) Dimensions on Innovation—Evidence from SMEs. Sustainability 2021, 13, 10095. [CrossRef]
13. Rosli, M.; Syamsuriana, S. The Impact of Innovation on the Performance of Small and Medium Manufacturing Enterprises. J. Innov. Manag. Small Medium Enterp. 2013, 2, 885666.
14. Azadehdel, M.R.; Farahbod, F.; Jamshidinejad, M.A. The impact of knowledge sharing on innovation and performance. Int. J. Sci. Manag. Dev. 2013, 3, 48–53.
15. Abbasi, D.; Ashrafi, M.; Ghodsypour, S.H. A multi objective-BSC model for new product development project portfolio selection. Expert Syst. Appl. 2020, 162, 113757. [CrossRef]
16. Lin, Y.-S.; Chen, M. Implementing TRIZ with Supply Chain Management in New Product Development for Small and Medium Enterprises. Processes 2021, 9, 614. [CrossRef]
17. Crossan, M.M.; Apaydin, M. A Multi-Dimensional Framework of Organizational Innovation: A Systematic Review of the Literature. J. Manag. Stud. 2010, 47, 1154–1191. [CrossRef]
18. Foss, N.J.; Saebi, T. Business models and business model innovation: Between wicked and paradigmatic problems. Long Range Plan. 2018, 51, 9–21. [CrossRef]
19. Prajogo, D.I. The strategic fit between innovation strategies and business environment in delivering business performance. Int. J. Prod. Econ. 2016, 171, 241–249. [CrossRef]
20. Orellano, M.; Lambey-Checchin, C.; Medini, K.; Neubert, G. A Methodological Framework to Support the Sustainable Innovation Development Process: A Collaborative Approach. Sustainability 2021, 13, 9054. [CrossRef]
21. Morales, P.; Flikkema, M.; Castaldi, C.; Man, A.-P.D. The effectiveness of appropriation mechanisms for sustainable innovations from small and medium-sized enterprises. J. Clean. Prod. 2022, 374, 133921. [CrossRef]
22. Oyewo, B.; Moses, O.; Erin, O. Balanced scorecard usage and organizational effectiveness: Evidence from manufacturing sector. Meas. Bus. Excell. 2022, 26, 558–582. [CrossRef]
23. Mondal, S.; Roy, S.; Modak, N. Statistical Analysis of New Product Strategy Determinants for NPD Success. In Advances in Simulation, Product Design and Development; Springer: Singapore, 2023; pp. 191–201.
24. Azevedo, M.; Lobo, C.A.; Pereira, C.S.; Durão, N.; Maldonado, I. A Possible Relationship between Internationalization and Innovation Strategies: An Analysis of Portuguese SMEs. Pol. J. Manag. Stud. 2021, 23, 74–90. [CrossRef]
25. Allen, G.J. Concepturealize™: A new contribution to generate real-needs-focussed, user-centred, lean business models. J. Innov. Entrep. 2022, 11, 6. [CrossRef] [PubMed]
26. Ali, J.; Reed, M.R.; Saghaian, S.H. Determinants of product innovation in food and agribusiness small and medium enterprises: Evidence from enterprise survey data of India. Int. Food Agribus. Manag. Rev. 2021, 24, 777–796. [CrossRef]
27. Agustia, D.; Haryanto, S.D.; Permatasari, Y.; Midiantari, P.N. Product innovation, firm performance and moderating role of technology capabilities. Asian J. Account. Res. 2022, 7, 252–265. [CrossRef]
28. Zapata-Roldan, F.; Sheikh, N.J. A Design Management Agent-Based Model for New Product Development. IEEE Trans. Eng. Manag. 2022, 69, 2026–2038. [CrossRef]
29. Sergeevna, B.L. Special Aspects of Innovative Product Development by Knowledge-Intensive Businesses in the Current Economic Conditions. Int. J. Innov. Technol. Explor. Eng. 2019, 8, 2053–2055. [CrossRef]
30. Annunen, P.; Mustonen, E.; Harkonen, J.; Haapasalo, H. Sales capability creation during new product development—Early involvement of sales. J. Bus. Ind. Mark. 2021, 36, 263–273. [CrossRef]
31. Lee, A.H.I.; Lin, C.Y. An integrated fuzzy QFD framework for new product development. Flex. Serv. Manuf. J. 2011, 23, 26–47. [CrossRef]
32. Yin, S.; Li, B.; Zhang, X.; Zhang, M. How to Improve the Quality and Speed of Green New Product Development? Processes 2019, 7, 443. [CrossRef]
33. Cooper, R.G.; Edgett, S.J.; Kleinschmidt, E.J. Portfolio management for new product development: Results of an industry practices study. R&D Manag. 2001, 31, 361–380. [CrossRef]
34. Chen, W.-C.; Lin, P.-W.; Deng, W.-J. An Integrated Multiple-Criteria Decision-Making Model for New Product Development: The Case of Taiwan Organic Light-Emitting Diode Industry. Processes 2022, 10, 1205. [CrossRef]
35. Jusufi, G.; Ukaj, F.; Ajdarpaši´c, S. The effect of product innovation on the export performance of Kosovo SMEs. Management 2020, 25, 215–234. [CrossRef]
36. Doan, A.-T.; Khan, A.; Holmes, S.; Tran, T. SMEs’ efficiency in a transitional economy: Does innovation and public support schemes matter? J. Asia Pac. Econ. 2021. [CrossRef]
37. Velazquez-Cazares, M.G.; Gil-Lafuente, A.M.; Leon-Castro, E.; Blanco-Mesa, F. Innovation capabilities measurement using fuzzy methodologies: A Colombian SMEs case. Comput. Math. Organ. Theory 2021, 27, 384–413. [CrossRef]
38. Molodchik, M.; Jardon, C.; Yachmeneva, E. Multilevel analysis of knowledge sources for product innovation in Russian SMEs. Eurasian Bus. Rev. 2021, 11, 247–266. [CrossRef]
39. Haryati, R.; University, E.; Yasri, Y. Development of small, micro enterprises based (SMEs) on innovation and environmental sustainable development in West Sumatera. Int. J. Entrep. 2021, 25, 1–13.
40. Cosenz, F.; Bivona, E. Fostering growth patterns of SMEs through business model innovation. A tailored dynamic business modelling approach. J. Bus. Res. 2021, 130, 658–669. [CrossRef]
41. Adnani, L.; Jusuf, E.; Alamsyah, K.; Jamaludin, M. The role of innovation and information sharing in supply chain management and business performance of halal products in tourism destinations. Uncertain Supply Chain Manag. 2023, 11, 195–202. [CrossRef]
42. Di Cintio, M.; Ghosh, S.; Grassi, E. Direct or indirect exports: What matters for firms’ innovation activities? Appl. Econ. Lett. 2020, 27, 93–103. [CrossRef]
43. Kava, L.; Didonet, S.R. The influence of market orientation on exploration and exploitation innovation strategies and organizational performance. Rev. Bras. Mark. 2019, 18, 1–16. [CrossRef]
44. Dawid, H.; Keoula, M.Y.; Kopel, M.; Kort, P.M. Dynamic investment strategies and leadership in product innovation. Eur. J. Oper. Res. 2023, 306, 431–447. [CrossRef]
45. Odei, S.A.; Appiah, M.K. Unravelling the drivers of technological innovations in the Czech Republic: Do international technological linkages matter? Int. J. Innov. Stud. 2023, 7, 32–46. [CrossRef]
46. OECD. The Measurement of Scientific, Technological and Innovation Activities. In Frascati Manual 2015: Guidelines for Collecting and Reporting Data on Research and Experimental Development; OECD Publishing: Paris, France, 2015. [CrossRef]
47. Sweezy, P.M. Professor Schumpeter’s Theory of Innovation. Rev. Econ. Stat. 1943, 25, 93–96. [CrossRef]
48. OECD; Eurostat. The Measurement of Scientific, Technological and Innovation Activities. In Oslo Manual 2018: Guidelines for Collecting, Reporting and Using Data on Innovation, 4th ed.; OECD Publishing: Paris, France; Eurostat: Luxemburg, 2018.
49. Henseler, J.; Ringle, C.M.; Sarstedt, M. A new criterion for assessing discriminant validity in variance-based structural equation modeling. J. Acad. Mark. Sci. 2015, 43, 115–135. [CrossRef]
50. Jöreskog, K.G.; Sörbom, D. LISREL 8: Structural Equation Modeling with the SIMPLIS Command Language; Scientific Software International: Lincolnwood, IL, USA, 1993.
51. Sarstedt, M.; Ringle, C.M.; Cheah, J.-H.; Ting, H.; Moisescu, O.I.; Radomir, L. Structural model robustness checks in PLS-SEM. Tour. Econ. 2019, 26, 531–554. [CrossRef]
52. Sharma, P.N.; Shmueli, G.; Sarstedt, M.; Danks, N.; Ray, S. Prediction-Oriented Model Selection in Partial Least Squares Path Modeling. Decis. Sci. 2019, 52, 567–607. [CrossRef]
53. Sarstedt, M.; Ringle, C.M.; Hair, J.F. Partial Least Squares Structural Equation Modeling. In Handbook of Market Research; Homburg, C., Klarmann, M., Vomberg, A., Eds.; Springer International Publishing: Cham, Switzerland, 2017; pp. 1–40. [CrossRef]
54. Hair, J.F., Jr.; Matthews, L.M.; Matthews, R.L.; Sarstedt, M. PLS-SEM or CB-SEM: Updated guidelines on which method to use. Int. J. Multivar. Data Anal. 2017, 1, 107. [CrossRef]
55. Henseler, J.; Hubona, G.; Ray, P.A. Using PLS path modeling in new technology research: Updated guidelines. Ind. Manag. Data Syst. 2016, 116, 2–20. [CrossRef]
56. Hair, J.F., Jr.; Babin, B.J.; Krey, N. Covariance-Based Structural Equation Modeling in the Journal of Advertising: Review and Recommendations. J. Advert. 2017, 46, 163–177. [CrossRef]
57. Arbeláez, A.M.; Parra Torrado, M. Innovation, R&D Investment and Productivity in Colombia; Fedesarrollo: Bogotá, Colombia, 2009.
58. Rocha, L.A.; Lima, P.V.P.S.; Khan, A.S.; De Sousa, E.P. R&D spillovers, innovation and market value: Evidence of absorptive capacity in the generation of clean technologies. Estud. Econ. Apl. 2019, 2, 1–14.
59. Zhao, H.-H.; Liu, Y.; Li, J.; Guo, X.-G.; Gui, H.-J. Chinese Provincial Difference in the Efficiency of Universities’ Scientific and Technological Activities Based on DEA with Shared Input. Math. Probl. Eng. 2022, 2022, 8319498. [CrossRef]
60. Hair, J.F.; Black, W.C.; Babin, B.J.; Anderson, R.E. Multivariate Data Analysis, 8th ed.; Cengage Learning EMEA: Andover, UK, 2018. Available online: https://www.amazon.com/Multivariate-Analysis-William-author-Anderson-dp-1473756545/dp/14737565 45/ref=dp_ob_title_bk (accessed on 27 October 2022).
61. Falk, R.; Miller, N. A Primer for Soft Modeling; The University of Akron Press: Akron, OH, USA, 1992.
62. Xie, X.; Wang, L.; Zhang, T. Involving online community customers in product innovation: The double-edged sword effect. Technovation 2023, 123, 102687. [CrossRef]
63. Asociación Nacional de Instituciones Financieras. Encuesta MiPyme Anif; Asociación Nacional de Instituciones Financieras: Bogotá, Colombia, 2021.
64. Deng, Z.; Hofman, P.S.; Newman, A. Ownership concentration and product innovation in Chinese private SMEs. Asia Pac. J. Manag. 2013, 30, 717–734. [CrossRef]
65. O’Sullivan, A. Interpersonal Boundary Spanning for Supplier Integration in Complex NPD. IEEE Trans. Eng. Manag. 2022, 69, 2117–2128. [CrossRef]
66. Ohern, M.S.; Rindfleisch, A. Customer Co-Creation. In Review of Marketing Research; Malhotra, N.K., Ed.; Emerald Group Publishing Ltd.: Bingley, UK, 2010; Volume 6, pp. 84–106. [CrossRef]
67. Venesz, B.; D˝ory, T.; Raišiene, A.G. Characteristics of Lead Users in Different Stages of the New Product Development Process: A ˙ Systematic Review in the Context of Open Innovation. J. Open Innov. Technol. Mark. Complex. 2022, 8, 24. [CrossRef]
68. Hurley, R.F.; Hult, G.T.M. Innovation, Market Orientation, and Organizational Learning: An Integration and Empirical Examination. J. Mark. 1998, 62, 42–54. [CrossRef]
69. Delgado-Verde, M.; Díez-Vial, I. New product development and supplier involvement: The role of R&D collaboration with supporting organisations. J. Technol. Transf. 2023. [CrossRef]
70. Madrid-Guijarro, A.; Martin, D.P.; García-Pérez-De-Lema, D. Capacity of open innovation activities in fostering product and process innovation in manufacturing SMEs. Rev. Manag. Sci. 2021, 15, 2137–2164. [CrossRef]
71. Whittaker, D.H.; Fath, B.P.; Fiedler, A. Assembling capabilities for innovation: Evidence from New Zealand SMEs. Int. Small Bus. J. Res. Entrep. 2016, 34, 123–143. [CrossRef]
72. Muñoz, E.C.; García, A.F.G.; Parejo, A.N.; Mercado-Caruso, N.; Gallego-Nicholls, J.F.; Taboada, A.P.H. Human-Computer Interaction Activities as a Basis in the Development of Innovations in Process: The Case of the Colombian Exporter SMEs. In HCI International 2022–Late Breaking Papers: HCI for Today’s Community and Economy; Springer: Berlin/Heidelberg, Germany, 2022; pp. 131–148. [CrossRef]
73. Mei, L.; Rentocchini, F.; Chen, J. Antecedents of strategic ambidexterity in firms’ product innovation: External knowledge and internal information sharing. J. Small Bus. Manag. 2021. [CrossRef]
74. Tian, D.; Guo, X.; Wang, P. Innovation Vouchers and the Sustainable Growth of High-Tech SMEs: Evidence from China. Sustainability 2021, 13, 11176. [CrossRef]
75. Dima, A.; Bugheanu, A.-M.; Dinulescu, R.; Potcovaru, A.-M.; Stefanescu, C.A.; Marin, I. Exploring the Research Regarding Frugal Innovation and Business Sustainability through Bibliometric Analysis. Sustainability 2022, 14, 1326. [CrossRef]
76. Chang-Muñoz, E.; Mercado-Caruso, N.; Gazabon, D.O.; Segarra-Oña, M.; Osorio, S.N. Product or process innovation? The dilemma for exporting SMEs in emerging economies: The case of the Colombian Caribbean. Procedia Comput. Sci. 2022, 198, 620–625. [CrossRef]
77. Alam, A.; Uddin, M.; Yazdifar, H.; Shafique, S.; Lartey, T. R&D investment, firm performance and moderating role of system and safeguard: Evidence from emerging markets. J. Bus. Res. 2020, 106, 94–105. [CrossRef]
78. Jung, S.; Kwak, G. Firm Characteristics, Uncertainty and Research and Development (R&D) Investment: The Role of Size and Innovation Capacity. Sustainability 2018, 10, 1668. [CrossRef]
79. Xu, J.; Sim, J.-W. Characteristics of Corporate R&D Investment in Emerging Markets: Evidence from Manufacturing Industry in China and South Korea. Sustainability 2018, 10, 3002. [CrossRef]
80. Atuahene-Gima, K.; Wei, Y. The Vital Role of Problem-Solving Competence in New Product Success. J. Prod. Innov. Manag. 2011, 28, 81–98. [CrossRef]
81. Liu, T.-C.; Chen, Y.-J. Strategy orientation, product innovativeness, and new product performance. J. Manag. Organ. 2015, 21, 2–16. [CrossRef]
dc.relation.citationendpage.spa.fl_str_mv 15
dc.relation.citationstartpage.spa.fl_str_mv 1
dc.relation.citationissue.spa.fl_str_mv 8
dc.relation.citationvolume.spa.fl_str_mv 15
dc.rights.eng.fl_str_mv © 2023 by the authors. Licensee MDPI, Basel, Switzerland.
dc.rights.license.spa.fl_str_mv Atribución-NoComercial-SinDerivadas 4.0 Internacional (CC BY-NC-ND 4.0)
dc.rights.uri.spa.fl_str_mv https://creativecommons.org/licenses/by-nc-nd/4.0/
dc.rights.accessrights.spa.fl_str_mv info:eu-repo/semantics/openAccess
dc.rights.coar.spa.fl_str_mv http://purl.org/coar/access_right/c_abf2
rights_invalid_str_mv Atribución-NoComercial-SinDerivadas 4.0 Internacional (CC BY-NC-ND 4.0)
© 2023 by the authors. Licensee MDPI, Basel, Switzerland.
https://creativecommons.org/licenses/by-nc-nd/4.0/
http://purl.org/coar/access_right/c_abf2
eu_rights_str_mv openAccess
dc.format.extent.spa.fl_str_mv 15 páginas
dc.format.mimetype.spa.fl_str_mv application/pdf
dc.publisher.spa.fl_str_mv MDPI AG
dc.publisher.place.spa.fl_str_mv Switzerland
dc.source.spa.fl_str_mv https://www.mdpi.com/2071-1050/15/8/6459
institution Corporación Universidad de la Costa
bitstream.url.fl_str_mv https://repositorio.cuc.edu.co/bitstreams/19134435-a15d-4137-be46-cb3097bf1e4d/download
https://repositorio.cuc.edu.co/bitstreams/f388686e-6202-4cfe-86ac-b4ba04d8e1cc/download
https://repositorio.cuc.edu.co/bitstreams/22c24ba3-6d9e-428b-ba6c-3551a86a05c0/download
https://repositorio.cuc.edu.co/bitstreams/94c9f84a-ee0f-458a-bc73-8e9a0fe8db7f/download
bitstream.checksum.fl_str_mv 730d6fe28f7e87d208ba85a9046bfe52
2f9959eaf5b71fae44bbf9ec84150c7a
cd07a7f7b2cf635a93ecd421d1449c5f
a50afb857f340798fc49b05dcc7cc129
bitstream.checksumAlgorithm.fl_str_mv MD5
MD5
MD5
MD5
repository.name.fl_str_mv Repositorio de la Universidad de la Costa CUC
repository.mail.fl_str_mv repdigital@cuc.edu.co
_version_ 1828166825054044160
spelling Atribución-NoComercial-SinDerivadas 4.0 Internacional (CC BY-NC-ND 4.0)© 2023 by the authors. Licensee MDPI, Basel, Switzerland.https://creativecommons.org/licenses/by-nc-nd/4.0/info:eu-repo/semantics/openAccesshttp://purl.org/coar/access_right/c_abf2Chang muñoz, eduardoGuarin Garcia, Andres FelipeCharris Sevilla, Yuneidis Gallego-Nicholls, José FernandoSantos-Rojo, CristinaOrtigosa-Blanch, Arturo2023-06-01T22:21:58Z2023-06-01T22:21:58Z2023Chang-Muñoz, E.A.; Guarín-García, A.F.; Charris-Sevilla, Y.; Gallego-Nicholls, J.F.; Santos-Rojo, C.; Ortigosa-Blanch, A. Innovation Activities and Their Impact on Product Innovation Results: Evidence from a Sectorial Study. Sustainability 2023, 15, 6459. https://doi.org/10.3390/su15086459https://hdl.handle.net/11323/1021710.3390/su150864592071-1050Corporación Universidad de la CostaREDICUC – Repositorio CUChttps://repositorio.cuc.edu.co/In the current competitive context, innovation has become a necessity, to the point that it seems that no company can survive without developing innovation processes. One of the great concerns of small and medium-sized companies is about the investment of resources in innovation activities and their success. Therefore, this article analyzes the influence of different innovation activities performed by small and medium-sized enterprises (SMEs) of the Colombian Caribbean region on their product innovation outcomes and thereby provides a solid groundwork for the design of innovation strategies. To achieve this objective, a data collection instrument was first validated in 56 SMEs, followed by the application of a reflective measurement model with convergent validity analysis. The results of the model application revealed that investment in Research and Development (R&D) and innovation, knowledge transfer, technology adoption, and financial aspects explain to a greater extent the introduction of new products to the market.15 páginasapplication/pdfengMDPI AGSwitzerlandhttps://www.mdpi.com/2071-1050/15/8/6459Innovation activities and their impact on product innovation results: evidence from a sectorial studyArtículo de revistahttp://purl.org/coar/resource_type/c_2df8fbb1Textinfo:eu-repo/semantics/articlehttp://purl.org/redcol/resource_type/ARTinfo:eu-repo/semantics/publishedVersionhttp://purl.org/coar/version/c_970fb48d4fbd8a85Sustainability1. Bagheri, M.; Mitchelmore, S.; Bamiatzi, V.; Nikolopoulos, K. Internationalization Orientation in SMEs: The Mediating Role of Technological Innovation. J. Int. Manag. 2019, 25, 121–139. [CrossRef]2. Ortiz, J.; Fumás, V.S. Technological innovation and the demand for labor by firms in expansion and recession. Econ. Innov. New Technol. 2020, 29, 417–440. [CrossRef]3. Centro de Estudios Económicos ANIF, Comentario Económico del Día. Available online: www.anif.com.co (accessed on 27 October 2022).4. Castillo-Vergara, M.; García-Pérez-De-Lema, D. Product innovation and performance in SME’s: The role of the creative process and risk taking. Innovation 2021, 23, 470–488. [CrossRef]5. Hervas-Oliver, J.L.; Sempere-Ripoll, F.; Boronat-Moll, C. Technological innovation typologies and open innovation in SMEs: Beyond internal and external sources of knowledge. Technol. Forecast. Soc. Chang. 2021, 162, 120338. [CrossRef]6. Muñoz-Pascual, L.; Galende, J.; Curado, C. Contributions to Sustainability in SMEs: Human Resources, Sustainable Product Innovation Performance and the Mediating Role of Employee Creativity. Sustainability 2021, 13, 2008. [CrossRef]7. Nuryakin, N.; Maryati, T. Green product competitiveness and green product success. Why and how does mediating affect green innovation performance? Entrep. Sustain. Issues 2020, 7, 3061–3077. [CrossRef]8. Aboal, D.; Garda, P. Technological and non-technological innovation and productivity in services vis-à-vis manufacturing sectors. Econ. Innov. New Technol. 2016, 25, 435–454. [CrossRef]9. Jeong, S.W.; Chung, J.-E.; Roh, J.-S. Impact of External Knowledge Inflow on Product and Process Innovation of Korean SMEs: Absorptive Capacity as a Mediator. Cloth. Text. Res. J. 2019, 37, 219–234. [CrossRef]10. Ukpabio, M.G.; Adeyeye, A.D.; Oluwatope, O.B. Absorptive capacity and product innovation: New evidence from Nigeria. Innov. Dev. 2016, 6, 213–233. [CrossRef]11. Almodóvar, P.; Nguyen, Q.T. Product innovation of domestic firms versus foreign MNE subsidiaries: The role of external knowledge sources. Technol. Forecast. Soc. Chang. 2022, 184, 122000. [CrossRef]12. Antunes, M.G.; Mucharreira, P.R.; Justino, M.R.T.; Texeira-Quirós, J. Effects of Total Quality Management (TQM) Dimensions on Innovation—Evidence from SMEs. Sustainability 2021, 13, 10095. [CrossRef]13. Rosli, M.; Syamsuriana, S. The Impact of Innovation on the Performance of Small and Medium Manufacturing Enterprises. J. Innov. Manag. Small Medium Enterp. 2013, 2, 885666.14. Azadehdel, M.R.; Farahbod, F.; Jamshidinejad, M.A. The impact of knowledge sharing on innovation and performance. Int. J. Sci. Manag. Dev. 2013, 3, 48–53.15. Abbasi, D.; Ashrafi, M.; Ghodsypour, S.H. A multi objective-BSC model for new product development project portfolio selection. Expert Syst. Appl. 2020, 162, 113757. [CrossRef]16. Lin, Y.-S.; Chen, M. Implementing TRIZ with Supply Chain Management in New Product Development for Small and Medium Enterprises. Processes 2021, 9, 614. [CrossRef]17. Crossan, M.M.; Apaydin, M. A Multi-Dimensional Framework of Organizational Innovation: A Systematic Review of the Literature. J. Manag. Stud. 2010, 47, 1154–1191. [CrossRef]18. Foss, N.J.; Saebi, T. Business models and business model innovation: Between wicked and paradigmatic problems. Long Range Plan. 2018, 51, 9–21. [CrossRef]19. Prajogo, D.I. The strategic fit between innovation strategies and business environment in delivering business performance. Int. J. Prod. Econ. 2016, 171, 241–249. [CrossRef]20. Orellano, M.; Lambey-Checchin, C.; Medini, K.; Neubert, G. A Methodological Framework to Support the Sustainable Innovation Development Process: A Collaborative Approach. Sustainability 2021, 13, 9054. [CrossRef]21. Morales, P.; Flikkema, M.; Castaldi, C.; Man, A.-P.D. The effectiveness of appropriation mechanisms for sustainable innovations from small and medium-sized enterprises. J. Clean. Prod. 2022, 374, 133921. [CrossRef]22. Oyewo, B.; Moses, O.; Erin, O. Balanced scorecard usage and organizational effectiveness: Evidence from manufacturing sector. Meas. Bus. Excell. 2022, 26, 558–582. [CrossRef]23. Mondal, S.; Roy, S.; Modak, N. Statistical Analysis of New Product Strategy Determinants for NPD Success. In Advances in Simulation, Product Design and Development; Springer: Singapore, 2023; pp. 191–201.24. Azevedo, M.; Lobo, C.A.; Pereira, C.S.; Durão, N.; Maldonado, I. A Possible Relationship between Internationalization and Innovation Strategies: An Analysis of Portuguese SMEs. Pol. J. Manag. Stud. 2021, 23, 74–90. [CrossRef]25. Allen, G.J. Concepturealize™: A new contribution to generate real-needs-focussed, user-centred, lean business models. J. Innov. Entrep. 2022, 11, 6. [CrossRef] [PubMed]26. Ali, J.; Reed, M.R.; Saghaian, S.H. Determinants of product innovation in food and agribusiness small and medium enterprises: Evidence from enterprise survey data of India. Int. Food Agribus. Manag. Rev. 2021, 24, 777–796. [CrossRef]27. Agustia, D.; Haryanto, S.D.; Permatasari, Y.; Midiantari, P.N. Product innovation, firm performance and moderating role of technology capabilities. Asian J. Account. Res. 2022, 7, 252–265. [CrossRef]28. Zapata-Roldan, F.; Sheikh, N.J. A Design Management Agent-Based Model for New Product Development. IEEE Trans. Eng. Manag. 2022, 69, 2026–2038. [CrossRef]29. Sergeevna, B.L. Special Aspects of Innovative Product Development by Knowledge-Intensive Businesses in the Current Economic Conditions. Int. J. Innov. Technol. Explor. Eng. 2019, 8, 2053–2055. [CrossRef]30. Annunen, P.; Mustonen, E.; Harkonen, J.; Haapasalo, H. Sales capability creation during new product development—Early involvement of sales. J. Bus. Ind. Mark. 2021, 36, 263–273. [CrossRef]31. Lee, A.H.I.; Lin, C.Y. An integrated fuzzy QFD framework for new product development. Flex. Serv. Manuf. J. 2011, 23, 26–47. [CrossRef]32. Yin, S.; Li, B.; Zhang, X.; Zhang, M. How to Improve the Quality and Speed of Green New Product Development? Processes 2019, 7, 443. [CrossRef]33. Cooper, R.G.; Edgett, S.J.; Kleinschmidt, E.J. Portfolio management for new product development: Results of an industry practices study. R&D Manag. 2001, 31, 361–380. [CrossRef]34. Chen, W.-C.; Lin, P.-W.; Deng, W.-J. An Integrated Multiple-Criteria Decision-Making Model for New Product Development: The Case of Taiwan Organic Light-Emitting Diode Industry. Processes 2022, 10, 1205. [CrossRef]35. Jusufi, G.; Ukaj, F.; Ajdarpaši´c, S. The effect of product innovation on the export performance of Kosovo SMEs. Management 2020, 25, 215–234. [CrossRef]36. Doan, A.-T.; Khan, A.; Holmes, S.; Tran, T. SMEs’ efficiency in a transitional economy: Does innovation and public support schemes matter? J. Asia Pac. Econ. 2021. [CrossRef]37. Velazquez-Cazares, M.G.; Gil-Lafuente, A.M.; Leon-Castro, E.; Blanco-Mesa, F. Innovation capabilities measurement using fuzzy methodologies: A Colombian SMEs case. Comput. Math. Organ. Theory 2021, 27, 384–413. [CrossRef]38. Molodchik, M.; Jardon, C.; Yachmeneva, E. Multilevel analysis of knowledge sources for product innovation in Russian SMEs. Eurasian Bus. Rev. 2021, 11, 247–266. [CrossRef]39. Haryati, R.; University, E.; Yasri, Y. Development of small, micro enterprises based (SMEs) on innovation and environmental sustainable development in West Sumatera. Int. J. Entrep. 2021, 25, 1–13.40. Cosenz, F.; Bivona, E. Fostering growth patterns of SMEs through business model innovation. A tailored dynamic business modelling approach. J. Bus. Res. 2021, 130, 658–669. [CrossRef]41. Adnani, L.; Jusuf, E.; Alamsyah, K.; Jamaludin, M. The role of innovation and information sharing in supply chain management and business performance of halal products in tourism destinations. Uncertain Supply Chain Manag. 2023, 11, 195–202. [CrossRef]42. Di Cintio, M.; Ghosh, S.; Grassi, E. Direct or indirect exports: What matters for firms’ innovation activities? Appl. Econ. Lett. 2020, 27, 93–103. [CrossRef]43. Kava, L.; Didonet, S.R. The influence of market orientation on exploration and exploitation innovation strategies and organizational performance. Rev. Bras. Mark. 2019, 18, 1–16. [CrossRef]44. Dawid, H.; Keoula, M.Y.; Kopel, M.; Kort, P.M. Dynamic investment strategies and leadership in product innovation. Eur. J. Oper. Res. 2023, 306, 431–447. [CrossRef]45. Odei, S.A.; Appiah, M.K. Unravelling the drivers of technological innovations in the Czech Republic: Do international technological linkages matter? Int. J. Innov. Stud. 2023, 7, 32–46. [CrossRef]46. OECD. The Measurement of Scientific, Technological and Innovation Activities. In Frascati Manual 2015: Guidelines for Collecting and Reporting Data on Research and Experimental Development; OECD Publishing: Paris, France, 2015. [CrossRef]47. Sweezy, P.M. Professor Schumpeter’s Theory of Innovation. Rev. Econ. Stat. 1943, 25, 93–96. [CrossRef]48. OECD; Eurostat. The Measurement of Scientific, Technological and Innovation Activities. In Oslo Manual 2018: Guidelines for Collecting, Reporting and Using Data on Innovation, 4th ed.; OECD Publishing: Paris, France; Eurostat: Luxemburg, 2018.49. Henseler, J.; Ringle, C.M.; Sarstedt, M. A new criterion for assessing discriminant validity in variance-based structural equation modeling. J. Acad. Mark. Sci. 2015, 43, 115–135. [CrossRef]50. Jöreskog, K.G.; Sörbom, D. LISREL 8: Structural Equation Modeling with the SIMPLIS Command Language; Scientific Software International: Lincolnwood, IL, USA, 1993.51. Sarstedt, M.; Ringle, C.M.; Cheah, J.-H.; Ting, H.; Moisescu, O.I.; Radomir, L. Structural model robustness checks in PLS-SEM. Tour. Econ. 2019, 26, 531–554. [CrossRef]52. Sharma, P.N.; Shmueli, G.; Sarstedt, M.; Danks, N.; Ray, S. Prediction-Oriented Model Selection in Partial Least Squares Path Modeling. Decis. Sci. 2019, 52, 567–607. [CrossRef]53. Sarstedt, M.; Ringle, C.M.; Hair, J.F. Partial Least Squares Structural Equation Modeling. In Handbook of Market Research; Homburg, C., Klarmann, M., Vomberg, A., Eds.; Springer International Publishing: Cham, Switzerland, 2017; pp. 1–40. [CrossRef]54. Hair, J.F., Jr.; Matthews, L.M.; Matthews, R.L.; Sarstedt, M. PLS-SEM or CB-SEM: Updated guidelines on which method to use. Int. J. Multivar. Data Anal. 2017, 1, 107. [CrossRef]55. Henseler, J.; Hubona, G.; Ray, P.A. Using PLS path modeling in new technology research: Updated guidelines. Ind. Manag. Data Syst. 2016, 116, 2–20. [CrossRef]56. Hair, J.F., Jr.; Babin, B.J.; Krey, N. Covariance-Based Structural Equation Modeling in the Journal of Advertising: Review and Recommendations. J. Advert. 2017, 46, 163–177. [CrossRef]57. Arbeláez, A.M.; Parra Torrado, M. Innovation, R&D Investment and Productivity in Colombia; Fedesarrollo: Bogotá, Colombia, 2009.58. Rocha, L.A.; Lima, P.V.P.S.; Khan, A.S.; De Sousa, E.P. R&D spillovers, innovation and market value: Evidence of absorptive capacity in the generation of clean technologies. Estud. Econ. Apl. 2019, 2, 1–14.59. Zhao, H.-H.; Liu, Y.; Li, J.; Guo, X.-G.; Gui, H.-J. Chinese Provincial Difference in the Efficiency of Universities’ Scientific and Technological Activities Based on DEA with Shared Input. Math. Probl. Eng. 2022, 2022, 8319498. [CrossRef]60. Hair, J.F.; Black, W.C.; Babin, B.J.; Anderson, R.E. Multivariate Data Analysis, 8th ed.; Cengage Learning EMEA: Andover, UK, 2018. Available online: https://www.amazon.com/Multivariate-Analysis-William-author-Anderson-dp-1473756545/dp/14737565 45/ref=dp_ob_title_bk (accessed on 27 October 2022).61. Falk, R.; Miller, N. A Primer for Soft Modeling; The University of Akron Press: Akron, OH, USA, 1992.62. Xie, X.; Wang, L.; Zhang, T. Involving online community customers in product innovation: The double-edged sword effect. Technovation 2023, 123, 102687. [CrossRef]63. Asociación Nacional de Instituciones Financieras. Encuesta MiPyme Anif; Asociación Nacional de Instituciones Financieras: Bogotá, Colombia, 2021.64. Deng, Z.; Hofman, P.S.; Newman, A. Ownership concentration and product innovation in Chinese private SMEs. Asia Pac. J. Manag. 2013, 30, 717–734. [CrossRef]65. O’Sullivan, A. Interpersonal Boundary Spanning for Supplier Integration in Complex NPD. IEEE Trans. Eng. Manag. 2022, 69, 2117–2128. [CrossRef]66. Ohern, M.S.; Rindfleisch, A. Customer Co-Creation. In Review of Marketing Research; Malhotra, N.K., Ed.; Emerald Group Publishing Ltd.: Bingley, UK, 2010; Volume 6, pp. 84–106. [CrossRef]67. Venesz, B.; D˝ory, T.; Raišiene, A.G. Characteristics of Lead Users in Different Stages of the New Product Development Process: A ˙ Systematic Review in the Context of Open Innovation. J. Open Innov. Technol. Mark. Complex. 2022, 8, 24. [CrossRef]68. Hurley, R.F.; Hult, G.T.M. Innovation, Market Orientation, and Organizational Learning: An Integration and Empirical Examination. J. Mark. 1998, 62, 42–54. [CrossRef]69. Delgado-Verde, M.; Díez-Vial, I. New product development and supplier involvement: The role of R&D collaboration with supporting organisations. J. Technol. Transf. 2023. [CrossRef]70. Madrid-Guijarro, A.; Martin, D.P.; García-Pérez-De-Lema, D. Capacity of open innovation activities in fostering product and process innovation in manufacturing SMEs. Rev. Manag. Sci. 2021, 15, 2137–2164. [CrossRef]71. Whittaker, D.H.; Fath, B.P.; Fiedler, A. Assembling capabilities for innovation: Evidence from New Zealand SMEs. Int. Small Bus. J. Res. Entrep. 2016, 34, 123–143. [CrossRef]72. Muñoz, E.C.; García, A.F.G.; Parejo, A.N.; Mercado-Caruso, N.; Gallego-Nicholls, J.F.; Taboada, A.P.H. Human-Computer Interaction Activities as a Basis in the Development of Innovations in Process: The Case of the Colombian Exporter SMEs. In HCI International 2022–Late Breaking Papers: HCI for Today’s Community and Economy; Springer: Berlin/Heidelberg, Germany, 2022; pp. 131–148. [CrossRef]73. Mei, L.; Rentocchini, F.; Chen, J. Antecedents of strategic ambidexterity in firms’ product innovation: External knowledge and internal information sharing. J. Small Bus. Manag. 2021. [CrossRef]74. Tian, D.; Guo, X.; Wang, P. Innovation Vouchers and the Sustainable Growth of High-Tech SMEs: Evidence from China. Sustainability 2021, 13, 11176. [CrossRef]75. Dima, A.; Bugheanu, A.-M.; Dinulescu, R.; Potcovaru, A.-M.; Stefanescu, C.A.; Marin, I. Exploring the Research Regarding Frugal Innovation and Business Sustainability through Bibliometric Analysis. Sustainability 2022, 14, 1326. [CrossRef]76. Chang-Muñoz, E.; Mercado-Caruso, N.; Gazabon, D.O.; Segarra-Oña, M.; Osorio, S.N. Product or process innovation? The dilemma for exporting SMEs in emerging economies: The case of the Colombian Caribbean. Procedia Comput. Sci. 2022, 198, 620–625. [CrossRef]77. Alam, A.; Uddin, M.; Yazdifar, H.; Shafique, S.; Lartey, T. R&D investment, firm performance and moderating role of system and safeguard: Evidence from emerging markets. J. Bus. Res. 2020, 106, 94–105. [CrossRef]78. Jung, S.; Kwak, G. Firm Characteristics, Uncertainty and Research and Development (R&D) Investment: The Role of Size and Innovation Capacity. Sustainability 2018, 10, 1668. [CrossRef]79. Xu, J.; Sim, J.-W. Characteristics of Corporate R&D Investment in Emerging Markets: Evidence from Manufacturing Industry in China and South Korea. Sustainability 2018, 10, 3002. [CrossRef]80. Atuahene-Gima, K.; Wei, Y. The Vital Role of Problem-Solving Competence in New Product Success. J. Prod. Innov. Manag. 2011, 28, 81–98. [CrossRef]81. Liu, T.-C.; Chen, Y.-J. Strategy orientation, product innovativeness, and new product performance. J. Manag. Organ. 2015, 21, 2–16. [CrossRef]151815Product innovationPLS-SEMSmall and medium-sized enterprises (SMEs)Innovation activitiesCompetitive advantagePublicationORIGINALInnovation Activities and Their Impact on Product Innovation Results.pdfInnovation Activities and Their Impact on Product Innovation Results.pdfArtículoapplication/pdf771994https://repositorio.cuc.edu.co/bitstreams/19134435-a15d-4137-be46-cb3097bf1e4d/download730d6fe28f7e87d208ba85a9046bfe52MD51LICENSElicense.txtlicense.txttext/plain; charset=utf-814828https://repositorio.cuc.edu.co/bitstreams/f388686e-6202-4cfe-86ac-b4ba04d8e1cc/download2f9959eaf5b71fae44bbf9ec84150c7aMD52TEXTInnovation Activities and Their Impact on Product Innovation Results.pdf.txtInnovation Activities and Their Impact on Product Innovation Results.pdf.txtExtracted texttext/plain69131https://repositorio.cuc.edu.co/bitstreams/22c24ba3-6d9e-428b-ba6c-3551a86a05c0/downloadcd07a7f7b2cf635a93ecd421d1449c5fMD53THUMBNAILInnovation Activities and Their Impact on Product Innovation Results.pdf.jpgInnovation Activities and Their Impact on Product Innovation Results.pdf.jpgGenerated Thumbnailimage/jpeg16008https://repositorio.cuc.edu.co/bitstreams/94c9f84a-ee0f-458a-bc73-8e9a0fe8db7f/downloada50afb857f340798fc49b05dcc7cc129MD5411323/10217oai:repositorio.cuc.edu.co:11323/102172024-09-17 14:14:33.554https://creativecommons.org/licenses/by-nc-nd/4.0/© 2023 by the authors. Licensee MDPI, Basel, Switzerland.open.accesshttps://repositorio.cuc.edu.coRepositorio de la Universidad de la Costa CUCrepdigital@cuc.edu.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

Publicaciones similares