Do the innovative MNEs generate an added value in emerging economy?: Evidence from Scandinavian enterprises in Poland.

In the theory of economics, innovations are currently perceived as one of the most progressive factor of growth and development. After 30 years of economic transformation, combined with regular growth of productivity, the condition of Polish emerging economy is still negative in the respect of innovations. This especially concerns the activity of enterprises, which are important actors in the whole innovation system. On the other hand, significant investments are realised in Poland by multinational enterprises (MNEs), deriving from leading European countries in terms of innovation. In this context, the assessment of the economic value added generated by innovative MNEs operating in Poland remained the main purpose of this paper. The return on invested capital as well as the economic value added, in five-year period, for the focus group of Scandinavian MNEs were estimated. The results of the empirical study proved, that all analysed enterprises generated the value added above the market benchmark, representative both for Poland and Central and Eastern Europe. Additionally, the differences in approach enhancing enterprises' innovative activities, including management and social factors, were identified. [ABSTRACT FROM AUTHOR]