Brunilda Kosta – Faculty of Economy, University of Tirana, Arben Broci Street, 1001, Tirana, Albania

Keywords:                    Innovation;
Firm performance;


Abstract: The purpose of this paper is to investigate the impact of product in­novation, process innovation and delivery innovation on firm performance, in response to unexpected crises such as the COVID-19 pandemic. For this purpose, the author conducted a survey with 115 Albanian companies. By employing the regression analysis, the study uncovered that product innovation has a posi­tive significant impact on firm performance in the aftermath of COVID-19. The study also uncovers a positive yet non-significant relationship between process innovation and firm performance. Contrary to expectations, the research iden­tifies a counterintuitive outcome in the context of delivery innovation, indicat­ing a negative and statistically significant impact on firm performance. This re­search contributes to our understanding of the complex interplay between in­novation and firm performance, offering valuable insights for businesses navi­gating the challenges of the post-pandemic landscape. The findings prompt a reevaluation of strategic approaches to innovation and underscore the need for nuanced and context-specific strategies to optimize firm outcomes.

9th International Scientific ERAZ Conference – ERAZ 2023 – Conference Proceedings: KNOWLEDGE BASED SUSTAINABLE DEVELOPMENT, hybrid – online, virtually and in person, Prague, Czech Republic, June 1, 2023

ERAZ Conference Proceedings published by: Association of Economists and Managers of the Balkans – Belgrade, Serbia

ERAZ conference partners: Faculty of Logistics, University of Maribor, Maribor (Slovenia); University of National and World Economy – UNWE, Sofia (Bulgaria); Center for Political Research and Documentation (KEPET), Research Laboratory of the Department of Political Science of University of Crete (Greece); Institute of Public Finance – Zagreb (Croatia); Faculty of Tourism and Hospitality Ohrid, University of St. Kliment Ohridski from Bitola (North Macedonia)

ERAZ Conference 2023 Conference Proceedings: ISBN 978-86-80194-72-1, ISSN 2683-5568, DOI:

Creative Commons Non Commercial CC BY-NC: This article is distributed under the terms of the Creative Commons Attribution-Non-Commercial 4.0 License ( which permits non-commercial use, reproduction and distribution of the work without further permission. 

Suggested citation

Kosta, B. (2023). How Innovation Drives Firm Performance in the Post COVID-19 Pandemic?. In V. Bevanda (Ed.), ERAZ Conference – Knowlegde Based Sustainable Development: Vol 9. Conference Proceedings (pp. 171-180). Association of Economists and Managers of the Balkans.


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