This paper applies quantitative and narrative approaches to fiscal and financial policies of Chinese small and medium enterprises (SMEs) in order to study the support effect of macro policies on micro enterprises. As the first researchers to focus on the firm heterogeneity of SMEs’ policy effects, we show that the “flood irrigation” supportive policies for SMEs have not achieved the expected “help the weaker” effect. Non-state-owned SMEs and small(micro) enterprises have a low sense of policy gain, which is contrary to some “positive” research conclusions from China. The mechanism study found that “ownership” and “scale” discrimination suffered by non-state-owned and small(micro) enterprises in the financing process are key. We suggest the supportive policies for SMEs should shift from “flood” to “precise drip” irrigation. The policy benefits of non-state-owned, small and micro enterprises need to be emphasized. More targeted policies need to be studied and provided. Our findings shed new light on the formulation of supportive policies for SMEs. In today’s globalized, informationized, knowledge-based and market-oriented economy, small and medium-sized enterprises (SMEs), the most active factor in the social economy, play an irreplaceable role in the development of the national economy in both developed and developing countries. However, they are still in a disadvantaged position in the market competition, and face a poor external development environment, difficult and expensive financing and other difficulties, and so struggle to obtain a virtuous cycle of development. Countries have therefore made great efforts to provide support for SMEs and have shown their own policy measures. After years of practice, financial policies of SMEs –3), tax Fred et al.’s  investigIt seems that we should not be satisfied with overall “effectiveness”, as this is not a unique situation. In China, the initiation of a supportive government led policy has resulted in stronger enterprises always being preferred. Resources such as government subsidies, tax incentives and financial support are heavily tilted in favor of state-owned and large enterprises. Wang and Wang  found thIn recent years, the Government has introduced and implemented a series of fiscal and financial policies and measures to relieve the difficulties of SMEs and support their development. In responding to the international financial crisis and COVID-19, the Government has offered an increasing amount of supportive policies to SMEs. This raises the question if the effect of SMEs’ fiscal and financial policies is similar to “support the stronger”. In addition, there are also questions about the policy gain of non-state-owned SMEs and small (micro) enterprises and if they can be treated equally favorably by fiscal and financial support policies?But after the introduction of the domestic and international “double cycle” strategy and the establishment of the Beijing Stock Exchange, SMEs obtained a new opportunity for rapid development. And this leads us to think about how effective the implementation of fiscal and financial policy measures for SMEs have been. In addition, we are also led to ask how much interventions have helped the future growth of SMEs and to ask about the way out for non-state-owned SMEs and small (micro) enterprises.In order to answer these questions, this paper first develops quantitative guidelines for fiscal and financial policies. It then constructs a fiscal and financial policy index for SMEs. In focusing on the heterogeneity of the property rights nature and enterprises size of, it investigates the micro effects and conduction mechanism of SMEs’ fiscal and financial policies by using enterprises’ investment efficiency, which is directly related to their future growth and value performance.Our findings contribute to existing research in at least three ways. First, this paper focuses on the firm heterogeneity of SMEs’ policy effects. Most existing studies of SMEs’ policy effects are only focus on the whole. But the strength of the policy effects of non-state-owned /state-owned and large/small companies are indispensable when examining the effect of policies and should receive extra attention from policy makers. Second, this paper isa new attempt to measure macroeconomic policies. Existing research of the measurement of macroeconomic policies consists of questionnaire surveys that have been distributed to enterprises e.g., , 17). Al. Al17]).In taking this into account, we use quantitative and narrative approaches to identify and construct a fiscal and financial policy index for SMEs that is based on SMEs’ supportive policies this appears to be a first in the policy research of SMEs in China. Third, this study also systematically analyzes the impact of macro fiscal and financial policies on the investment efficiency of micro enterprises, and it does this by applying the two conduction mechanisms of investment opportunities and financing constraints. And the analysis of firm heterogeneity is included in the conduction mechanisms. This paper could help to improve the policy effect of SMEs and promote their healthy and sustainable development.The remainder of the paper follows. Section 2 develops the paper’s hypotheses; Section 3 constructs the fiscal and financial policy index of SMEs and offers a brief analysis; Section 4 discusses the data, variables and estimation models; Section 5 presents and discusses the results; Section 6 provides further analysis and conducts robustness tests; Section 7 presents the paper’s conclusions.This paper attempts to measure the implementation effect of SMEs’ fiscal and financial policies at the micro level of enterprises and analyze the impact of fiscal and financial policies on SMEs’ investment efficiency. In order to further analyze the mechanism, the rule of Capital Follows Profitability followed by enterprises and government’s fiscal and financial policy instruments are need to be discussed together. According to the Capital Follows Profitability economic rule of enterprise investment decision, the realization of enterprise efficiency investment depends on the following constraints: one is investment opportunity and the other is financing capacity see –22)..22]).If an enterprise does not have a financing constraint, then an enterprise’s investment expenditures depend on the investment opportunities it faces . We arguHowever, the existence of the “double dual structure” of China’s economic and financial systems “has led to a serious imbalance and inequity in the allocation of financial resources in terms of opportunities and costs of occupation” . But theThis paper draws on the preceding analysis to argue that SMEs’ fiscal and financial policies affect SMEs’ investment efficiency through two paths: investment opportunities and financing capacity. On this basis, it proposes its first hypothesis:Hypothesis 1: SMEs’ fiscal and financial policies have an incentive effect on their investment efficiency.However, there are also differences in the nature of property rights among SMEs as, when compared to state-owned enterprises (SOEs), non-SOEs have poorer financing capacity, fewer available investment opportunities and a weaker ability to grasp quality investment opportunities. Chinese financial institutions discriminate against non-SOEs in credit rationing , and creOn the one hand, we would like to see state-owned SMEs, which have financing capacity and investment opportunity advantages over non-state-owned SMEs, weaken the incentive effect of fiscal and financial policies on their investment efficiency. This would make non-state-owned SMEs, with weaker financing capacity and investment opportunities, to be more sensitive to fiscal and financial support policies, which would in turn make their investment efficiency more obviously incentivized. On this basis, we propose the following hypothesis:Hypothesis 2A: Relative to state-owned SMEs, fiscal and financial policies have a more significant incentive effect on the improvement of the investment efficiency of non-state-owned SMEs.On the other hand, we take into account that even with the support of fiscal and financial policies, non-SOEs probably still suffer explicit and implicit system discrimination from the credit and capital markets. The “advocating the rich and hating the poor” and “seeking profits and avoiding risks” lending idea of commercial banks and the “credit discrimination” against non-SOEs cannot be completely resolved in the short term , 34. WitHypothesis 2B: Relative to non-state-owned SMEs, fiscal and financial policies have a more significant incentive effect on improvements in the investment efficiency of state-owned SMEs.In addition, the size of an enterprise also has an important impact on its ability to raise capital and therefore on investment opportunities. Jin  empiricaAnd with strong financing constraints and low financing capacity, small enterprises naturally have a poor grasp of investment opportunities. As in the heterogeneity of property rights nature, there are also two cases of heterogeneity in SMEs’ fiscal and financial policies enterprise size:Hypothesis 3A: Relative to medium-sized enterprises, fiscal and financial policies have a more significant incentive effect on improvements in small enterprises’ investment efficiency.Hypothesis 3B: Relative to small-sized enterprises, fiscal and financial policies have a more significant incentive effect on improvements in medium-sized enterprises’ investment efficiency.In order to estimate the effect of fiscal and financial policy, we should first be able to measure fiscal and financial policy changes . In previous studies, industrial policies and SME supportive policies at the macro level usually appear in a regression equation, where they take the form of dummy variables expressed as explanatory variables . HoweveRegulations on the Handling of Official Documents by Party and Government Organs (No. 14 [2012]) issued by the General Office of the CPC Central Committee and the General Office of the State Council. This enables us to determine criteria for assigning the strength of SMEs’ fiscal, tax and financial policies  and indirectly For example, tax benefits that are applied to institutions and seek to support the development of SMEs–these include one-two kinds of taxes exempted for SMEs credit guarantee institutions and SME’s public services, financing and other platforms within a certain period provided to SMEs.The financial policy that supports the development of SMEs is an important launching point to solve current difficulties in financing and meeting the high comprehensive cost of financing for SMEs. We divide SMEs’ financial policies into policies that support the financing supply system for SMEs, and policies that support the financial service system for SMEs. The external financing of enterprises is divided into direct financing and indirect financing which is the main external financing option for SMEs . The devAfter analyzing the fiscal expenditure, taxation and financial policies, we refined their policy measures and established criteria for assigning fiscal and financial policy measures to SMEs, as shown in In drawing on the aforementioned criteria for assigning the strength and measures of fiscal and financial policies for SMEs, we construct the SME fiscal and financial policy index by referring to the following calculation formula:i represents each SMEs’ fiscal and financial policy; t represents the time of policy introduction; Pi,t represents the policy strength (Power) score of policy I; Pi,t = {x∈N|1≤x≤5}; Ei,t represents the fiscal expenditure policy measure (Expand) score of policy i; Ti,t represents the tax policy measure (Tax) score of policy I; Fi,t represents the financial policy measure (Finance) score of policy I; and Ei,t = Ti,t = Fi,t = {x∈N|1≤x≤10}.For each policy, the scores of each type of measure are summed, and Indexi,t is the final quantitative value of SMEs’ fiscal and financial policies for policy i at time t. We summarize the issuance time of 517 policies by month and sum up quarterly to form this quarterly data of the SMEs’ fiscal and financial policy index. Although subjectivity is inevitable in the process of constructing the fiscal and financial policy index, we strive for reasonable and scientific quantitative criteria. The paper’s policy strength and measure assignment criteria were developed after a close reading of 517 policies, and the scoring was done after a second close reading. In the next step, we plot the trend of the SMEs’ fiscal and financial policy index, and focus on the peaks of the higher SMEs’ fiscal and financial policy index; we then verify the rationality of the SMEs’ fiscal and financial policy index by undertaking an analysis of the economic development situation and the production and operation of SMEs.In specification (1), Notice on the Issuance of the Standard Regulations for the Classification of Small and Medium Enterprises, which was issued in June, and fiscal and financial support for small and micro enterprises also intensified. In 2012, the convening of the 18th CPC National Congress led to the gradual improvement of the policy environment for SMEs and further increases in fiscal and financial support. In 2014, when the “new normal” of China’s economy was first proposed, China’s economic growth rate fell by 3 percentage points (compared to 2010) and the real interest rate rose by 3.76 percentage points, a significant deviation from the two trends that increased the burden of corporate financing costs. This is inseparable from the macroeconomic policy mix of “active fiscal policy + prudent monetary policy” that has been in place since 2011. This will further push up interest rates, “making it more difficult and expensive for SMEs to raise funds” , change in short-term debt (DStd), change in net working capital (DNwc) and capital expenditure (Expand), which it uses to measure the financing constraints of SMEs by building the cash-cash flow sensitivity model.In order to examine the mechanism of investment opportunity, this paper aligns itself with most of the literature to use Tobin’s Q as a proxy variable for investment opportunity . In examTobin’s Q, which reflects enterprises’ growth capability, also shows a large difference. With regard to control variables, the mean value of SME operating income growth rate is 0.185 –this is low relative to the country’s main board listed enterprises, and indicates that SMEs have low growth levels and more room for growth. Enterprises’ average debt to asset ratio is 37.8 percent, which indicates that, on average, SMEs have a slightly lower level of debt financing.In order to explore the impact of SMEs’ fiscal and financial policies on investment efficiency, this paper constructs the following specification by referring to Jin et al. .Investment) and profitability (ROE), and the coefficient of interaction term α3 of ROE and policy index (Ln(index)) is the main test variable. On the basis of Hypothesis 1, we expect the coefficient of α3 to be significantly greater than zero . For all following regressions, fixed effects regression models that control for individuals and provinces are used and time fixed effects are not controlled for. Because the paper’s policy index (Ln(index)) is a macro variable in the time series, controlling for time fixed effects would produce perfect collinearity and lead to nonsense parameters. The baseline regression results are reported in Ln(index)*ROE is significantly positive at the 1% significance level, indicating that fiscal and financial policies enhance the sensitivity between SME investment and profitability, and suggest investment efficiency is positively incentivized. Columns (2) and (3) incorporates firm-level and macro-level control variables respectively; and Columns (4) controls for both micro and macro factors. As can be seen, the coefficient of interaction term between investment level and ROE remains significantly positive after the inclusion of the control variables, and there is no significant change in the significance and coefficient. This is consistent with our expectation, and Hypothesis 1 is supported.The investment efficiency variable is examined using the sensitivity between investment expenditure (Ln(index)* ROE is significantly positive at the 5% level, which is consistent with the baseline regression in column (1); meanwhile, the column (3) of the non-state-owned SMEs regression shows that the coefficient of the interaction term Ln(index)* ROE is insignificant, which indicates that the fiscal and financial policies on state-owned SMEs have stronger incentives for investment efficiency. Accordingly, Hypothesis 2B is supported.The heterogeneity analysis follows (the results are presented in Ln(index)* ROE in the small enterprise sample is insignificant, indicating that fiscal and financial support policy has no significant incentive effect on the investment efficiency of small enterprises. Accordingly, Hypothesis 3B is supported.Turning to the results of the regressions grouped by enterprise size in columns (4) and (5) of the table, the differences between medium-sized and small enterprises are similar to those of state-owned and non-state-owned SMEs. The regression results of the medium-sized enterprise sample are basically consistent with the total sample, which shows fiscal and financial support policies have a facilitating effect on their investment efficiency. The coefficient of Although non-state-owned and small enterprises are relatively disadvantaged in terms of investment opportunities and financing capacity, neither are more sensitive to fiscal and financial policies and get a greater boost in investment efficiency, as predicted by hypotheses 2A and 3A. This leads us to propose that while fiscal and financial policies can play an incentive role in the overall investment efficiency of SMEs, they mainly rely on the pull of the stronger state-owned and medium-sized enterprises. Non-state-owned and small enterprises do not fully enjoy the policy dividend, and are still in many respects caught in an “ownership” and “scale” discrimination dilemma. In the next step, we will study the conduction mechanism of fiscal and financial policies. By using the group-level regression of the conduction mechanism model, we can explore the reasons for the poor effect of supportive policies on non-state-owned and small enterprises.China is currently in a transition period, and the capital market is not an efficient market. The special institutional background causes that macroeconomic policies have an important direct impact and guiding effect on the capital market and the investment behavior of enterprises. Previous macroeconomic policies mainly include economic cycle, fiscal policy, monetary policy, credit policy, tax policy, exchange rate policy, industrial policy and regulatory policy .This paper’s baseline analysis reveals that SMEs’ fiscal and financial policies have an incentive effect on investment efficiency, and this verifies macroeconomic policy regulation that promotes the investment efficiency of micro enterprises in the SME category, and expands the research perspective of relevant literatures. Heterogeneity analysis shows macro-control is not as effective as imagined, and policy impact will intensify “discrimination”. Although this seems “cruel”, it is consistent with China’s reality. Some Chinese researchers offered evidence in support of property right nature heterogeneity when they observed non-state-owned enterprises improved investment efficiency through mixed-ownership reform, and the mechanism reduced financing constraints, which improved “discrimination” to a certain extent , 49. In We put forward that SMEs’ fiscal and financial policies play a positive role on investment efficiency through the two paths of investment opportunities and financing capacity. Not only test the existence of the two mechanisms, but also focus more on whether there is a difference between the nature of property rights and the scale of enterprises, which enables us to further explore the reasons why macro policies have such a poor support effect on non-state-owned and small enterprises.In order to test the existence of the path of investment opportunities, the following specification is constructed.LogTQ represents the growth and investment opportunities of enterprises, the investment opportunities mechanism is presented in Ln(index) (at the 1% level). This shows that SMEs’ fiscal and financial policies are positively related to investment opportunities, and supportive policies make a significant contribution to the improvement of SME investment opportunities. This confirms how fiscal and financial policies effect the investment efficiency of enterprises through investment opportunities. We also note that in the column (2), for the state-owned SMEs, the coefficient of Ln(index) is 0.0672, which is significantly lower than in the other samples. This may be due to the fact that, in the case of most SOEs, the investment environment and investment opportunities are already relatively better, and there is accordingly less scope for policy to improve their investment opportunities. It should also be concerned that the group-level results of the investment opportunity conduction mechanism do not explain the differences between state-owned and private, medium-sized and small enterprises that are reflected in the baseline regression. We will now test the mechanism of financing capacity.Where where, DCash is the change in cash holdings of the enterprise; CFO is the firm cash flow; Expend is the enterprise capital expenditure; and Growth is the operating income growth rate. Its theory holds that if the enterprise has financing constraints, its cash flow sensitivity of cash holdings is positive, which is reflected in the fact that parameter α1 is significantly positive. α2 is the parameter of the interaction term between cash flow and fiscal and financial support policies- if α2 is significantly negative, it indicates that fiscal and financial support policies can significantly reduce the cash-cash flow sensitivity of SMEs and the financing constraint is effectively alleviated.In order to test the path of “fiscal and financial policy-financing capacity-investment efficiency” of SMEs, we refer to Almeida et al. (2004) and Khurana et al.  to constCFO regression coefficient is significantly positive and is not affected by the property rights nature and size of enterprises, which indicates that, even with stock market financing access, listed SMEs still face external financing obstacles and exhibit significant cash-cash flow sensitivity. Of more interest to us is the coefficient of the interaction term CFO* Ln(index), which is significantly negative at the 5% level in the total sample. This indicates that, as a whole, fiscal and financial policies can significantly alleviate the financing constraints of SMEs, which effects the investment efficiency of enterprises by reducing financing constraints, demonstrating the existence of a mechanism of action of financing capacity. The group-level regression of property rights nature in columns (2) and (3) indicates that the coefficient of the interaction term CFO* Ln(index) is significantly negative of state-owned SMEs, but insignificant of non-state-owned SMEs, implying that the financing constraints of non-state-owned SMEs are not significantly alleviated with policy support. Similarly, the group-level regression of enterprise size in column (4) and (5) shows that the coefficient of the interaction term is significantly negative of medium-sized enterprises, but insignificant of small enterprises. So, the implementation of fiscal and financial policies also did not effectively reduce the cash-cash flow sensitivity of small enterprises. This may be caused by an actuality that of the SMEs supported by fiscal and financial policies, state-owned and medium-sized enterprises are able to obtain more credit resources and largely crowd out non-state-owned and small enterprises.Notably, the group-level regression n of the financing capacity mechanism reflects differences between state-owned and private, medium-sized and small enterprises that are consistent with those in the baseline regression. This suggests that financing capacity constrains the incentive effect of fiscal and financial policies on investment efficiency in the relatively disadvantaged group of private and small enterprises.Many studies also reflect the determining role of financing capacity in SME investment efficiency , 52. In (Ln(micro)) and draw on a sample of 94 small enterprises. The regression results are shown in Ln(index) of SMEs that relates to the period September 2011-December 2020. In accordance with our conjecture, the more targeted fiscal and financial policies for small (micro) enterprises have a significant mitigating effect on the financing constraints of small enterprises. The coefficient of CFO* Ln(micro) is significantly negative at the 5% level in column (1), while the fiscal and financial policies Ln(index) have no mitigating effect on the financing constraints of small (micro) enterprises, which is consistent with the results in the financing capacity mechanism.In our test of the financing capacity mechanism, we find that SMEs’ fiscal and financial policies do not significantly alleviate the financing constraints of small enterprises, and note this “weak point” obstacle impedes the efficiency of small firm investment. We speculate whether a wider range of SMEs’ supportive policies would not target small enterprises. To test this conjecture, we specifically extracted the fiscal and financial policies for small (micro) enterprises. The concept of “small and micro” enterprises was introduced to China in June 2011, and so we extracted 215 fiscal and financial policies specifically related to small and micro enterprises that were drawn from the period September 2011-December 2020. On this basis, we construct a cash-cash flow sensitivity model by using the fiscal and financial policy index of small (micro) enterprises Another commonly accepted method for estimating the investment efficiency of enterprises is based on the Richardson  model. AReturn) and listed years (Age) are added. The residuals of specification (5) are considered as inefficient investment (Inveff), which is used as the inverse measure of enterprise investment efficiency. The lagged period of SMEs’ fiscal and financial policy index Ln(index) is taken as the explanatory variable, and a fixed-effects model that controls for individual and province is constructed. The regression results are displayed in Ln(index) is always significantly negative at the 1% level.In this equation, the control variables are all taken with a one-period lag, and the enterprise-quarter fixed effects model is used; two new variables  is significantly positively correlated with the SMEs’ fiscal and financial policy index Ln(index) and ROE* Ln (USepu) also positively correlated with ROE*Ln(index) at the level of 1%. The Cragg-Donald F-statistics are much stronger than the standard threshold 10 suggested by Staiger and Stock [We report the above 2SLS estimations in nd Stock , implyinROE* Ln(index) is found to be 0.0104 with a t-test of 2.35. This finding is significant at the 5% level and is consistent with the results of the baseline regression. Overall, the results from our robustness checks deliver a consistent message; i.e., SMEs’ fiscal and financial policies have an incentive effect on their investment efficiency, thus supporting Hypothesis 1.The 2008–2009 financial crise and the pandemics in 2020 caused great economic volatility and had a huge impact on SME operations. To increase the robustness of the paper’s findings, 12 quarters of sample data  were removed and the coefficient of the interaction term This paper first uses quantitative and narrative approaches to identify and construct fiscal and financial policy index for SMEs that are based on SME supportive policies promulgated by the Central Government of China in the period 2000–20. It then examines the incentive effect and conduction mechanism of fiscal and financial policies on enterprise investment efficiency by drawing on a property rights nature perspective and referring to enterprise scale based on the financial data of listed SMEs in China. In doing so, it seeks to study the implementation of macro fiscal and financial policies from the micro perspective of enterprises. The relevant results follow:➀ This paper finds that, on the whole, the SMEs’ fiscal and financial policies significantly enhance investment efficiency. However, the regression results grouped by the property rights nature of enterprise shows that the incentive effect of fiscal and financial policies on enterprise investment efficiency is stronger in state-owned SMEs and insignificant in private SMEs. The regression results grouped by enterprise size show that fiscal and financial policies can significantly enhance the investment efficiency of medium-sized enterprises, but are not significant in small enterprises.➁ Investment opportunities and financing capacity are the two mechanisms through which SMEs’ fiscal and financial policies affect the investment efficiency.➂ The group-level regressions of mechanism shows that there are differences in the transmission of mechanisms by property rights nature and enterprise size. The investment opportunities of state-owned SMEs are not significantly improved by policy support, and the financing capacity of private SMEs and small enterprises is not improved as much as state-owned and medium-sized enterprises. And the “ownership and scale discrimination” that private SMEs and small enterprises suffered in the financing process are key to limiting efficiency improvement.➃ Further research shows that targeted fiscal and financial policies for small (micro) enterprises have a significant effect on alleviating the financing constraints of small enterprises. The following insights can be extracted from these findings:First, this paper confirms that SMEs’ fiscal and financial policies have a certain incentive effect on the improvement of investment efficiency. In order to support SMEs, China has introduced a series of fiscal and financial policies, but they are phased, lack planning for long-term and overall development and are mostly general and not very operational. The central government should improve the top-level design, formulate more specific and detailed policies and measures, clarify standards that can be followed by local governments, and give SMEs the confidence to rise to the challenge and seek to improve themselves.Second, gradually eliminate the  discrimination between private enterprises and state-owned enterprises, small enterprises and large and medium-sized enterprises. In order to enhance policy benefits for private, small and micro enterprises, the supportive policy for SMEs has shifted from “flood” to “precise drip” irrigation. This paper finds that there is less support  for private and small enterprises than for state-owned and medium-sized enterprises. This is because private and small enterprises are in a disadvantaged position and are discriminated against in all aspects, making it difficult for them to enjoy/fully enjoy the SMEs’ policy dividend. The small (micro) enterprises as the main body that provides targeted fiscal and financial support policies can significantly improve the financing situation of small enterprises. This paper therefore suggests that the State Council and its Ministries that promulgate policies should provide targeted policy support to private SMEs and small (micro) enterprises, and give greater policy preference to private and small (micro) enterprises. These measures could include the establishment of a special fund for private SMEs; the establishment of a credit guarantee agency that specifically benefits private SMEs and small (micro) enterprises; and the establishment of a target for commercial banks that privileges loans to small (micro) enterprises over those provided to large and medium-sized enterprises.In addition, we can consider the establishment of a management agency that specializes promoting the development of private and small (micro) enterprises on the basis of private and small (micro) enterprises. It should formulate unified policy measures for them, coordinate planning and promote the development of private and small (micro) enterprises.Third, this paper finds that investment opportunities and financing capacity are the two pathways through which fiscal and financial policies work. The Government must therefore focus on enhancing investment opportunities for SMEs and alleviating financing constraints that inhibit SMEs. In seeking out investment opportunities, the Government should focus on private SMEs, relax industry barriers , eliminate differential treatment between state-owned and private enterprises and improve the efficiency and approval rate of private enterprises’ investment projects. This paper argues that, in order to reduce financial constraints and enhance credit support for SMEs, the scale and increase of SME loans should be included in the assessment index of commercial banks, and the scale and increase of loans to private SMEs and small (micro) enterprises should be included in the key assessment index of commercial banks. In order to enhance the role of large and medium-sized commercial banks in SME financing, the cultivation and vigorous development of a number of small and medium-sized financial institutions should also be accelerated. The central government should strengthen institutional support for SMEs, and local governments should develop differentiated and characteristic development paths for them, while also reducing intervention in the operation and management of SMEs and strengthening assistance that will enhance their independence.Of course, this paper still has limitations: First, it uses a single data source for the explanatory variable . The quantitative and narrative approaches that this paper uses to construct the SMEs’ policy index are relatively new, and so there is no similar index for comparison and reference. Although the trend chart of policy index conforms to the actual situation of China’s economy and society and the robustness test is conducted with the instrumental variable (Economic Policy Uncertainty of the U.S), there is still the possibility of error. Second, subject to data availability, the research object of this paper is China’s A-share listed SMEs. But the vast majority of SMEs are actually unlisted. This could affect the generalization of the paper’s conclusions.We suggest that future research can be improved and expanded by engaging at the following two points:First, construct a multi-level SMEs’ fiscal and financial policy index. This paper’s policy index only includes SMEs’ fiscal, tax and financial policies that were issued by the Central Government, and do not refer to counterpart policies issued by local governments of China. This recommendation cites two considerations. First, many local government supportive policies are specific implementations and forwarded versions of Central Government policies; Second, some early local government policies, especially at the city and county levels, have been invalidated or (as in the case of pre-2010 policies) cannot be obtained, which means the original policies are unobtainable. This can lead to omissions. We hope researchers will be able to balance the relationship between central and local government policies in the future, and thereby establish and improve the SMEs’ fiscal and financial policy index.Second, the research sample of SMEs should be expanded and a wider range of research should be conducted. This is the biggest dilemma for SMEs. We hope that unlisted SMEs can enhance information disclosure and that special funds or subsidies will enable governments to disclose financial information related to SMEs. In the future, our team will also cooperate with local governments with the aim of obtaining more detailed and comprehensive micro data.S1 Appendix(DOCX)Click here for additional data file.S2 Appendix(DOCX)Click here for additional data file.S3 Appendix(DOCX)Click here for additional data file.S1 Data(DTA)Click here for additional data file.S1 File(DO)Click here for additional data file.


After bonding, half of each group (n = 10) was stored in deionized water (150 days/37 °C), thermocycled , and cyclically loaded (50 N/1.2 × 106). Load-bearing capacity (LBC) was determined using a quasi-static test. Additionally, finite element analysis (FEA) and fractography were performed. t-test and one-way ANOVA were used for statistical-analysis. Before aging, the NAC group provided superior LBC to other groups (p < 0.05). After aging, the AM specimens debonded spontaneously, while other groups exhibited comparable LBC (p ˃ 0.05). The FEA results correlated with the in vitro experiment and fractography, showing highly stressed areas in the bonding interface, cement layer, and in RBFDP’s retainer wing and connector. The NAC RBFDPs exhibited comparable long-term bonding performance to APA and should be regarded as a zirconia pretreatment alternative to APA.Debonding of zirconia cantilevered resin-bonded fixed dental prostheses (RBFDPs) remains the main treatment complication, therefore, the present in vitro study aimed to evaluate the effect of different surface pretreatments on the bonding of zirconia RBFDPs. Eighty milled zirconia maxillary central incisors, with complementary zirconia cantilevered RBFDPs, were randomly subjected to four different surface pretreatments ( All-ceramic resin-bonded fixed dental prostheses (RBFDPs) represent an increasingly popular treatment modality for replacing missing anterior teeth. Because of the minimal tooth preparations, high esthetics, and time-efficient treatment, RBFDPs offer several advantages over conventional fixed dental prostheses (FDPs), orthodontic space closure, and implant-supported crowns ,2,3,4. HTo optimize the bonding to the zirconia retainer wing, a combination of airborne-particle abrasion (APA) and chemical bonding with an adhesive monomer, has been widely advocated ,13. HoweThere is a considerable lack of clinical trials evaluating the effect of different surface pretreatments on the zirconia RBFDPs’ performance ,33,34, aDespite the vast amount of in vitro studies evaluating bonding to zirconia ,27,28,29The present in vitro study aimed to evaluate the effect of different surface pretreatments on the bonding of zirconia RBFDPs, using a tailored experimental model to remove any tooth-related variables. Further, to verify the experimental model and provide a deeper understanding of the failure pattern, the combination of FEA and fractography was conducted. The null hypothesis was that no difference would be detected between the bonding performances of differently pretreated zirconia RBFDPs.A typodont central maxillary incisor  was prepared for zirconia cantilevered RBFDP, according to recently established guidelines, employing non-retentive geometry a 41], w, w41], w2, and the bonding surface area was calculated to be 32 mm2, using a three-dimensional (3D) mesh processing package . Eighty prepared incisors, with complementary eighty zirconia RBFDPs, were milled from pre-sintered 3 mol% yttria-stabilized tetragonal zirconia polycrystal (3Y-TZP) blocks , using a CAD-CAM unit , and thereafter sintered  , and a complementary monolithic RBFDP was designed with a computer-aided design/computer-aided manufacturing (CAD-CAM) software  b. The coAustria) c.The specimens were then randomly divided into four groups of twenty, where the bonding surfaces of zirconia abutment teeth and RBFDPs were subjected to different surface pretreatment conditions: left as-machined serving as a control (AM), low-pressure airborne-particle abraded (APA), coated with NAC (NAC), bonding surface of RBFDP’s retainer wing coated with NAC and the bonding surface of the abutment tooth airborne-particle abraded (NAC_APA).APA was performed with 50 μm alumina particles, at a pressure of 0.1 MPa for 15 s, at a 10 mm distance from the tip of the air abrasion unit. The specimens were then ultrasonically cleaned in 97% ethanol for 3 min. For the coating process, 10 zirconia incisors and 10 zirconia RBFDPs were inserted into a glass beaker of 300 mL aluminate-based precursor solution  and boiled for 10 min using a magnetic agitator with a hot plate. The calcination firing was carried out in a laboratory furnace, in atmospheric air at 900 °C and a holding time of 30 min. The coating procedure has been described in detail previously .For each surface treatment, a representative retainer wing was inspected under a scanning electron microscope (SEM) . Profile roughness averages (Ra) were measured over evaluation lengths of 3 mm, with a total of five readings per representative retainer wing with a contact profilometer .Zirconia RBFDPs were bonded to abutment teeth using a silicone  guide, to ensure a stable and accurate position of RBFDP during bonding. The specimens were bonded with a chemically curing resin cement, containing 10-methacryloyloxydecyl dihydrogen phosphate (MDP) adhesive monomer . A custom-made alignment apparatus was used to standardize the bonding procedure, providing a repeatable loading axis and loading force of 750 N . The exc6 cycles of cyclic loading, at alternating loads between 5 and 50 N , at a frequency of 10 Hz.The aging protocol included specimen storage in 37 °C deionized water for 150 days, and subsequent thermal cycling (TC) for 37,500 cycles between 5 °C and 55 °C, with a dwell time of 30 s . After that, specimens were subjected to 1.2 × 10Before cyclic loading, specimens were inserted into a polyurethane model base, with a longitudinal axis of abutment tooth under 45 degrees. A 0.2 mm thick silicon layer  covered the root surface and served as an artificial periodontal membrane, to imitate physiologic tooth mobility . The speThe non-aged and aged specimens were statically loaded under 45 degrees . The load was transferred through a blade positioned perpendicular to the incisal edge of the pontic , at a crAfter testing, aged RBFDP retainer wings and abutment teeth bonding surfaces were inspected with a light microscope (LM)  under ×2.5 magnification. The percentage of each retainer wing’s and abutment tooth’s bonding area covered with cement residue was calculated in a software package . Scanning electron microscopy , at an accelerating voltage of 5 kV, was used to examine the debonded retainer wings of the representative aged specimen for each experimental group. The representative specimen was determined by the LBC value closest to the mean LBC value for each group.In order to evaluate stresses generated by the debonding force during quasi-static loading, finite element analysis (FEA) was performed. A FEA model, simulating quasi-static loading from the in vitro experiment, was created. Three-dimensional (3D) models of the abutment tooth, RBFPD, and resin cement were created , and aligned as three separate bonded bodies with contact. Elastic moduli and Poisson ratios were adopted from previous studies . A slight-tests of independent samples were performed, to assess the LBC differences between the respective non-aged and aged subgroups. The p-values were adjusted using the Bonferroni correction method for the multiple comparisons. The LBC data were then split, according to the aging condition, and a one-way ANOVA and Tukey HSD post hoc test were performed, to assess differences in the profile roughness (Ra), LBC, and the percentage of the bonding area covered with residual cement among the groups (α = 0.05).The sample size was determined by conducting a post hoc power analysis of previous in vitro studies evaluating the differences in bond strength between APA and NAC-prepared zirconia ,42, usinp < 0.05) the mean profile roughness (Ra) ± standard deviation to 0.25 ± 0.01, while Ra for the AM and NAC bonding surfaces were comparable, measuring 0.22 ± 0.02 and 0.21 ± 0.03, respectively (p ˃ 0.05).SEM micrographs of a representative retainer wing’s bonding surface for each pretreatment are presented in p < 0.05) (p < 0.05), where NAC provided the highest (724 ± 58 N) and AM the lowest (361 ± 45 N) mean ±standard deviation LBC. During TC, specimens in the AM group debonded spontaneously. Aging significantly decreased LBC values in the NAC and NAC_APA groups (p < 0.05), however, there were no differences between the aged APA, NAC, and NAC_APA groups, with mean LBC ranging between 581 N and 590 N (p ˃ 0.05).The calculated power for determining differences among the non-aged groups, at α = 0.05 level of significance, was greater than 0.99 when using 10 specimens, indicating an adequate sample size was used. All specimens failed because of retainer wing debonding, except for one specimen in the aged APA group, where the connector and retainer wing fracture occurred at the load of 524 N. Aging conditions and surface pretreatment had a significant effect on LBC ( < 0.05) . Before p < 0.05). In other groups, the sum of the percentages of the bonding area covered with residual cement on the retainer wing and complementary abutment tooth, was approximately 100%  exceeding average and maximum mastication forces.Both APA and NAC provided an effective long-term bond of resin cement to zirconia RBFDPs, with comparable LBC values (NAC might present a viable non-damaging pretreatment alternative to APA for pretreating monolithic RBFDPs fabricated from more damage-prone translucent zirconia.Based on the findings of this in vitro study, the following conclusions were drawn:


The recent health crisis has particularly affected small- and medium-sized enterprises (SMEs). Some have had to temporarily close their doors. Others chose to innovate by developing new products to take advantage of the situation and survive. However, innovation is a risky strategy, so there are many failures. Innovation collaboration is one way of limiting these failures and increasing the chances of project success. Nevertheless, little is known about SMEs’ innovation collaboration practices in the context of a crisis, and even before the pandemic, and further research is needed. This study aims to understand the innovation process and the collaboration practices adopted by SMEs for their product innovation projects to cope with the pandemic, by comparing their pre-pandemic practices with those implemented at the start of the pandemic. Based on four successful product innovation projects in two different SMEs, our results show that, at the start of the pandemic, collaborations included a larger number of partners, involved in more stages of the innovation process, in order to accelerate the new product development and commercialization, rapidly provide the necessary resources and response to customer needs. Small- and medium-sized enterprises (SMEs) are particularly vulnerable to crises  such as In contrast, SMEs have certain characteristics – flexibility, rootedness in their local community, proximity to customers, agility – that give them unique capabilities to respond quickly and effectively to a crisis, seize opportunities and emerge stronger . These cAccording to In the context of a crisis, SMEs may opt for innovation to ensure their survival and an adequate post-crisis recovery . ResearcNevertheless, innovation is a double-edged sword: it increases the possibility of outstanding performance, but also of failure, for both SMEs and large firms . Rhaiem Thus, SMEs must explore different avenues to innovate while minimizing risks. Innovation collaboration is one such avenue. To innovate successfully and develop new sources of income, SMEs sometimes collaborate with external partners and adopt a more open innovation (OI) strategy . In the The COVID-19 pandemic provides a unique context to study the response of SMEs in crises. Our study focuses on the innovation process and collaborative practices within four successful innovation projects, both pre- and post-pandemic, by answering the following research question: how has collaboration within the product innovation process in SMEs been modified by the pandemic? Based on two Canadian (province of Quebec) manufacturing SMEs that each successfully commercialized a new product innovation before the pandemic and another one at its beginning, our objective is to gain a better understanding of the innovation process and the collaborative practices adopted by these SMEs. Studying four completed product innovation projects allows for the comparison of the entire innovation process, from idea generation to commercialization, the type and number of collaborative innovation partners, and the intensity of this collaboration throughout the entire process.The article is organized as follows. First, we describe the theoretical concepts and tools used to understand the phenomenon under study, followed by the methodology used to carry out our study. We then present and discuss the results in relation to the mobilized literature. Finally, we conclude by addressing the theoretical and managerial contributions, as well as the limits, of our study.Our study bridges the gap between the literature on innovation, collaboration and the innovation process. The concepts mobilized are presented in five main parts: (1) product innovation; (2) product innovation process; (3) resource-based view (RBV) theory; (4) innovation collaboration and OI; and (5) collaboration partners. These concepts and theories are used to build an analysis grid that helps organize and interpret the results of our research. This grid, which facilitates the analysis process, is presented at the end of this section.The Oslo Manual is widely recognized and respected as a comprehensive international guideline for measuring and understanding innovation activities. It provides a standardized framework and terminology that enables meaningful comparisons and analysis across different countries and industries . By usinIn its fourth edition, the Oslo Manual defines innovation as ‘a new or improved product or process (or combination thereof) that differs significantly from the unit's previous products or processes and that has been made available to potential users (product) or brought into use by the unit (process)’ : 20. In Product innovation unfolds through a process in which a product is designed, developed, and commercialized to respond to a market opportunity, also known as the product innovation process .The best-known model of the product innovation process is the Stage-Gate System (SGS) developed by To meet the demands of today's market – shorter product lifetimes and tighter time-to-market – the innovation process must be flexible and fast in addition to adapting to customer needs that change more rapidly than in the past . To accoAccording to To innovate successfully and secure sufficient resources and skills, SMEs sometimes collaborate with partners on the development of new product ideas, even more in a crisis context . CollaboThe RBV theory , accordiThe decision to collaborate depends on the resources available internally to the SME and the complementary resources available to a partner. This decision also lies in a needs and opportunities analysis . Thus, t‘Replicating products/business process already available from/to other firms or organizations, with no or very few additional changes by [a] firm.Developed by [a] firm by adapting or modifying products/business processes available from/to other firms or organizations, including reverse engineering.Developed by drawing substantially on ideas, concepts and knowledge sourced or acquired from other firms or organizations, directly or via intermediaries.Developed as part of a collaborative agreement with other firms or organizations, with all parties contributing ideas or expertise.Mainly developed by [a] firm on its own, from the idea to implementation’.These distinctions between the contribution of internal and external sources pave the way for the concepts of cooperation, collaboration, and co-innovation, which have long been used undifferentiated in the literature  to developed mainly in-house (item e). In between, item b requires some internal innovation activities, item c requires considerable external input and item d external input as part of a collaboration with other organizations . These iterature . The terterature : 134:ColInnovation collaboration is part of the OI trend which ‘denotes the flow of innovation-relevant knowledge across the boundaries of individual organizations. This includes proprietary-based business models that use [among others] collaborations […] to produce and share knowledge’ : 133. WhOI is a logical step for many SMEs to successfully innovate, develop new revenues and increase profitability . OI chanHowever, innovation collaboration involves challenges and even barriers. These include (a) loss of control over valuable knowledge; (b) high coordination costs; (c) loss of control over strategy; (d) difficulty finding the right partner; (e) difficulty establishing trust; (f) concerns about triggering antitrust policy enforcement, about employees leaking valuable information or know-how or about potential costs of dispute settlements; and (g) lack of time or financial resources . Trust tThe integration of collaboration partners can take place at various points during the innovation process. Such collaboration reduces technical and commercial risks and improves the chances of successful product innovation .Collaboration partners can be divided into five categories: (1) business enterprises (affiliated and unaffiliated), including suppliers, specialized knowledge service providers and commercial research institutes, customers and competitors/investors/other businesses; (2) government, including research institutes and other departments and agencies; (3) higher education; (4) private non-profit, including research institutes and other private non-profits; and (5) households/individuals : 138. ThTo explore the influence of the pandemic on collaboration in product innovation projects, we have developed an analytical framework known as the analysis grid presented in the next section. This framework serves as a bridge between the existing literature on innovation, collaboration in innovation (including collaboration partners) and the innovation process.A multiple case study allows us to explore and learn from innovation collaboration in a real SME context . The innBased on a dozen SMEs, two Canadian manufacturing SMEs were selected for this longitudinal analysis. These two SMEs were able to carry out one product innovation project before the pandemic and another one at its beginning. These two SMEs were widely quoted in the media during the pandemic period. We had the opportunity to meet their managers to highlight the consequences of the crisis on their collaboration practices and their innovation processes, in a very particular period of their history.In the four projects studied, new product ideas were developed through a process that included collaboration activities. The entire process could thus be documented. The innovation projects studied have different characteristics and are set in different contexts. At Alpha, the project studied before the pandemic concerns the development of refrigerated equipment for the food industry. At Beta, the project before the pandemic concerns the development of tooling for the automotive industry. In the context of the pandemic, the two projects put forward by Alpha and Beta concern the development of personal protective equipment intended to ensure the safety of thousands of employees in the food and medical sectors. Considered as working in non-essential sectors, according to the criteria established by the governments at the time, the two SMEs temporarily ceased their activities at the beginning of the pandemic. Their product innovation initiatives, however, allowed them to resume operations and re-employ most of their employees.Data were collected through semi-structured interviews before the pandemic and at the beginning of the pandemic with two managers in each SME. Each interview lasted approximately 90 min and was conducted on the premises of the companies . At Alpha, interviews were conducted in December 2018 (pre-pandemic project) and July 2021 (project completed in March 2020). At Beta, interviews were conducted in March 2019 (pre-pandemic project) and September 2021 (project completed from March to June 2020).With the respondents’ consent, the interviews were recorded and then transcribed. The interview patterns covered several topics: (1) description of the company and project, (2) innovation process, (3) organization, management, and structure of the innovation . The data collection also included the consultation of nearly 100 pages of internal  and external (websites and press reviews) documents. Collecting data from a variety of sources and methods (interviews and secondary documents), known as triangulation, reduces the risk that a study's findings will reflect a single ‘viewpoint’ . This trAnalysis of the interview and document data followed the principles of thematic analysis : using NThis section presents, first, the results obtained regarding the innovation processes of SMEs for the two periods studied. Second, the collaboration practices established by SMEs in the realization of their product innovation projects during these two periods are presented. Based on the analysis grid, we categorized the results following the categories and elements of comparison.Before the pandemic, the innovation processes of both SMEs followed a series of stages, activities, gates, and tasks that are similar to the original SGS model. The process distinctions between the two SMEs were more in the number of tasks, which were reduced at Alpha compared to Beta. These differences can be explained by the type of product developed, which at Beta required patents, unnecessary for Alpha. Alpha's closer proximity to its customers also resulted in a reduction in commercialization tasks. In comparison, Beta operates in a larger market requiring a commercialization plan, which increased the number of marketing tasks.At the beginning of the pandemic, the innovation processes adopted by the two SMEs were characterized by their agility and speed. The stages and activities of the original SGS model are present, but some were grouped for speed. For example, some activities associated with the product development stage were performed simultaneously with those of the test and validation stage, which reduced their number. These groupings of stages and activities also reduced the number of gates from five to three and simple and few tasks were put forward in the process. In the context of the emergency associated with the pandemic, new products had to be developed and marketed quickly to protect the hard-hit food and medical employees. The higher number of tasks at Beta is explained by the fact that the SME had to adapt to a new sector of activity , which led to the implementation of various tasks such as those associated with obtaining certifications from government medical authorities.our translation)This time frame is short compared to the typical time required to develop personal protective equipment for the medical sector in a non-pandemic context.  was developed, tested and marketed at the local and provincial levels. Beta's innovation process took longer because of the approvals required before it could be marketed. It took 4 months (from March to June 2020) to develop the idea of a reusable face mask and market it locally and provincially.The changes made to the innovation process of the two SMEs at the beginning of the pandemic brought it closer to Stage-Gate Express while borrowing some of the principles of Agile Stage-Gate: iterations, feedback loops, and rapid exchanges between members of the extended team, including external collaborators. The collaboration partners also varied between the two periods studied. The adaptation to a new sector of activity  for Beta also led to changes in partners.The collaboration practices before and at the beginning of the pandemic are depicted in Several points emerged from the results presented in The location of the partners was mainly local at the beginning of the pandemic and expanded, as the borders between the provinces opened, to a more provincial and national market. The health crisis forced the closure of companies in many countries and limited the access of the SMEs to these external markets, whether for the supply or the sale of the new product developed. This became a constraint for the SMEs, which had to act mainly on the local market, more accessible. However, this proximity favoured a faster development of the new product, necessary to protect several thousand employees quickly.As for the duration, it should be noted that the two projects carried out in both SMEs, at the beginning of the pandemic, were more radical than those carried out before the pandemic. In both cases, collaboration contributed to the success of the projects. The nature of the partners’ involvement was at level d where the new product is developed ‘as part of a collaborative agreement with other organizations with all parties contributing ideas and expertise’ : 135. Thour translation)The foundation was to save Quebec (Province of Canada), to save people. We could not be open for our regular business. We could be open to develop protection strategies.  did not exist. We did not know what was coming. Nobody knew what was going on. We were in a situation where at that time, the CERB (Canada Emergency Response Benefitour translation)We were trying to generate as much value as possible to be able to call people back as quickly as possible to retain our workforce. Because it is pretty hard in our fields to get skilled labour. It became an extended team. We brought together local companies to develop the new product. Several companies  are involved in designing, developing and manufacturing the new product. At the beginning of the process, everything was decided with the client. A team effort with people from all over. A company could not have done this alone in such a short time frame.  and a consultant  in the product development and testing stages. Developing a new product in the context of a pandemic was:It also helped make the innovation process more succinct, fast, and agile. Communication between the various partners was constant and necessary in solving problems, reducing technical risks, and confirming the continuity of the process.The results, presented in In response to a crisis, some firms are likely to explore innovative solutions by seizing opportunities in new markets , which tThe product innovation processes studied indicate that both SMEs typically follow the stages and activities identified in the SGS theoretical model. These results are comparable to those obtained by The two cases analyzed also show that the nature of partner involvement, as proposed by Comparing the collaboration practices in the innovation processes of the two SMEs, we notice distinctions between the two periods studied. Among other things, we note that suppliers and subcontractors are more involved in the pandemic context. When uncertainty is higher, their involvement can help SMEs confirm the feasibility of a project, reduce technical risks  and acceThe involvement of customers is also crucial in both SMEs, where they are more present in the context of the pandemic. This proximity to customers assures SMEs that the products developed meet their needs, which has, as Crises create an opportunity to innovate and collaboration plays an important role in accelerating the innovation process . A rapidOne might think that trust between partners emerges from mutual dependence, exacerbated by a sense of urgency generated by an unprecedented situation. SME managers can then become imbued with a rescue mission, beyond the SME's current activities . Crises Based on multiple case studies of two manufacturing SMEs, our study shows that the health crisis changed product innovation processes and practices of innovation collaboration. The longitudinal approach of our study based on two periods shows how a crisis of the magnitude of COVID-19 influences the product innovation process and how collaboration with different, and sometimes new, partners favours its speed and success. A sense of urgency may prompt SMEs to quickly call on more collaborative partners and to involve them for longer in the process. With a simplified and accelerated innovation process, commercial success can still be observed in times of pandemic.Regarding the theoretical contributions, this article combines two theoretical fields that tend to evolve in isolation: the innovation process (Cooper, 1990In terms of managerial contributions, developing a new product in a hurry requires agility, related to the ability to adapt, which is important in the innovation process of SMEs. Collaboration in product innovation projects helps to bridge resources and skills and promotes the success of projects while contributing to the performance of SMEs. Innovation may allow SMEs to resume their activities when other businesses are closed, as is the case in the SMEs studied, by exploring the development of new products that differ from their usual ones. Collaborations with new partners, such as experts and government agencies, can be an essential element in the development of such new products. Our study highlights that the relational skills and networking of SME managers are important to identify partners and benefit from their contribution to product innovation projects, emphasizing the importance of social capital . TherefoAs with any research, our study has limitations. First, our study focuses on changes in the practices of SMEs that successfully commercialized a new product at the beginning of the pandemic. It therefore does not enable us to identify the main obstacles faced by SMEs that did not attempt or succeed in developing new products during the pandemic. Also, the product innovation projects were not identical before and at the beginning of the pandemic in the two SMEs, which limits the extent of possible comparisons between the innovation collaboration process in normal times and in times of crisis, as well as the generalization of our conclusions to SMEs and projects that do not share the same characteristics. We can wonder whether the similarities and differences observed are due to other factors, namely the business model, the governance conditions, and the initial relational strategies. Questions also persist as to whether the observed changes in product innovation processes and collaboration practices are temporary or permanent.These limitations may also form the basis of further research. It could, for example, be interesting to study whether the changes observed will persist when the context is equivalent to that which existed before the pandemic. Will innovation process and collaboration practices then be more in line with what they were before the crisis? Will SMEs have learned from the crisis and continue to collaborate in product innovation and accelerate their new product development projects by adopting a more streamlined process? A quantitative survey with a larger sample of SMEs to assess whether their innovation process and innovation collaboration practices have changed during the pandemic could also allow the characterization of profiles and the identification of the obstacles and levers to such innovation. Our results pave the way for further study on concepts such as organizational learning, organizational change, relational capital and crisis in product innovation by manufacturing SMEs.In addition, this study focused on two manufacturing SMEs with a need to fill resources to innovate adequately. Future research could compare the collaboration profiles of SMEs with those of large firms to shed a different light on this phenomenon and gain a more complete picture. Also, comparing manufacturing firms with service firms would further explore the importance of context in collaboration practices. Finally, this empirical study is based on a sample of SMEs located in the province of Quebec, Canada. Both SMEs are therefore influenced by their context and researchers are encouraged to replicate this study in other regions and countries. Despite the limitations highlighted, this study contributes to the understanding of the adaptations made by SMEs to their innovation process and innovation collaboration in times of crisis.This study attests to the high adaptability and resilience of the studied SMEs in the early stages of the pandemic, as they changed their processes and expanded their collaborative networks to rapidly commercialize new products. This indicates a potential for increasing the speed of innovation, which could ultimately shorten product lifetimes once again. This article hopes to join a multitude of other contributions to better understand how the pandemic has changed the innovation process and innovation collaboration.


Biomimetic foods are expected to have potential health benefits for the management and prevention of chronic diseases, such as diabetes and cardiovascular disease. In the current research, two commercially available and affordable plant proteins (soy protein isolate—SPI and pea protein isolate—PPI) at two levels  were added to the Yangyu jiaotuan with the objective of developing a product with reduced glycaemic properties and high protein content while maintaining its original taste and texture. The results showed that several important textural properties such as hardness and chewiness did not change significantly during the refrigerated storage. The storage modulus G′ increased with refrigerated storage time for different samples, but there were significant differences among the five samples (with and without protein addition) with respect to frequency dependence during rheological measurements. The in vitro starch digestion experiments showed that the starch hydrolysis of Yangyu jiaotuan decreased considerably (by up to 42.08%) with the increase in PPI content and during refrigerated storage due to starch retrogradation. Protein has protected the microstructure and there was less damage when compared to samples without protein. The bimodal peaks of the particle size distribution curves showed that the newly developed Yangyu jiaotuan contains two different sizes of particles; the smaller particles (~30 μm) corresponded to PPI and starch granules, while the larger particles corresponded to the fragments of the gel network of the starch matrix. Based on the above results, Yangyu jiaotuan mixed with pea protein is a convenient potato staple food product, which complies with the biomimetic potato food very well. One of the current and future strategies for potato processing is “Biomimetic potato foods (BPFs)” which are expected to provide excellent taste, texture, and convenience, along with superior nutritional attributes . Apart fFor developing biomimetic or “natural-like” foods, it is very important to look at the structure of foods from the molecular to the macro level, and its relationship with the food’s functional and digestion-related properties ,6. DurinG′ and G″) with an increasing SPI volume fraction  and fluorescein isothiocyanate (FITC) [0.01% (w/v)] for 20 min. Then, the stained sections were observed with a TCS SP5 DM6000B Laser Scanning Confocal Microscope . The excitation wavelength of the laser was 561 nm, while the emission wavelength was set to 517 nm for potato starch and 575 nm for pea protein. The samples were loaded on a motorized XY stage, and digital image files were recorded at a resolution of 1024 × 1024 pixels.The pure mashed potato (control) and samples mixed with 5% or 10% pea proteins were immediately transferred onto Labserv microscope slides  for CLSM analysis; samples were stained with the fluorescent dye Fast green [0.1% . The pan was hermetically sealed and allowed to equilibrate for 1 h before analysis. The sample pans were then heated from 20 to 100 °C at a rate of 5 °C/min. An empty pan was used as a reference.The thermal properties of the Yangyu jiaotuan digesta were determined using differential scanning calorimetry (DSC) . Samples  were weighed directly in an aluminium pan, and distilled water was added to obtain a starch–water ratio of 1:3 (n = 3). Subsequently, an analysis of variance (ANOVA) with Tukey’s test was used to determine significant differences among the means at a significance level of p < 0.05. The data were subjected to correlation analysis, and Pearson correlation coefficients were calculated using IBM SPSS Statistics (Version 22) Software version 13 .The results are expressed as means ± standard deviation  are presented in Springiness B values G′) and loss modulus (G″), are presented as a function of the frequency in G′, G″ and complex (G*) increased while complex viscosity (η*) and dynamic viscosity (ή) decreased with increasing frequency. All the values of rheological parameters G′, G″, G*, loss tangent (tan δ), and η* and ή increased with the addition of both PPI and SPI in the Yangyu jiaotuan, and the values increased with the increasing PPI and SPI content, except for the loss tangent.The dynamic rheological properties, storage modulus  were close to the control at day zero, and during the storage times of 1 day, 3 days, and 5 days, it had very similar characteristics to the control. At the end, even on the fifth day, the Yangyu jiaotuan made with 5% SPI addition had the lowest viscosity values among all. It was even lower than the control. The values of rheological parameters increased significantly when 5%PPI, 10%PPI, or 10% SPI was added. Yangyu jiaotuan made with 10% PPI had the highest viscosity and other rheological parameters; it was very different from the control, indicating a very strong gel.The G′, G*, and η* increased significantly with the prolongation of storage time from 0 days to 5 days, while the values of G″, and ή did not change significantly. The values of tan δ decreased, and exhibited behaviour contrary to G′, G″, G*, η*, and ή, indicating the formation of stronger network structures in retrograded pastes.Rheological techniques can also be used to monitor the development of the viscoelastic properties of starch during retrogradation . In thisG′, G″, and η* by percentage. For the control sample, the value of G′ after 5 days increased by 77.27%, while it was lower for the sample containing 5% PPI, showing a 45% increase. The extent of change in G″ and η* in terms of percentage shows a similar pattern to the G′ values; this means that the protein has helped the sample to prevent starch retrogradation. Usually, consumers like to eat soft food; so, we can keep Yangyu jiaotuan soft during the storage period by adding plant proteins. Moreover, the value of G′ after five days increased by 29.46% and 53.35% for the Yangyu jiaotuan containing 10% PPI and 10% SPI, respectively, which indicated that with high extra protein addition, PPI is more effective in preventing starch retrogradation and ultimately obtaining a smoother or softer consistency over the storage period. On the other hand, during storage, water migrates slowly from the starch matrix to the protein granules [granules , thus ingranules  reportedgranules  reportedAlthough the rheological parameters have already given a lot of information about how PPI and SPI affect starch retrogradation, further studies are required to better understand the mechanism behind it. There are plenty of works that have already been conducted on starch/protein systems, but very little is reported in them . It has G′ , and rheological properties such as G′, G″, and peak viscosity also showed positive correlations .The Pearson correlation coefficients for the relationships between textural and rheological properties are presented in G″ and G* shows the same pattern because gumminess, chewiness, and resilience showed a strong positive correlation with hardness, while G″, G*, η*, and ή also had a strong positive correlation with G′.The correlation between these texture parameters and 0), α-Amylase is generally well integrated within the food bolus and continues to release some glucose; the starch hydrolysis (%) observed during the oral digestion process ranged from 2.27% to 14.60%. During the simulated gastric digestion phase (G0 and G30), the starch hydrolysis (%) of all samples was barely changed, indicating that the activity of α-amylase is very low due to the extremely low pH of 2 (The starch hydrolysis (%) of Yangyu jiaotuan during in vitro oral-gastro-small intestinal digestion is shown in  pH of 2 . During ∞), areas under hydrolysis curves (AUC), hydrolysis index (HI), and estimated glycaemic index (eGI) were estimated by fitting a first-order equation model according to the reported method [eGI of all the samples decreased with increasing refrigerated storage, indicating that chilled storage affected the rate of enzymatic digestion  and eGI (75.04) values, which is significantly lower than the other values of the control and 5% PPI. Factors that influence the kinetics of starch digestion are the nature of the starch, physical form, protein and lipid interactions, the presence of antinutrient enzyme inhibitors, and food processing [eGI in the Yangyu jiaotuan.The equilibrium starch hydrolysis percentage  of O2 and G30 were found to be 75.47 and 75.75 °C, respectively; the intensity of exothermic peak in samples decreased gradually as the simulated digestion time extended, and the absence of significant exothermic peaks in I10 and I60 samples indicates that most of the potato starch has been digested. At the end of the simulated small intestinal digestion, no exothermic peak could be found, which indicates that there is no starch matrix residue in the sample I120; these results were consistent with those of starch hydrolysis  thermogram of Yangyu jiaotuan digesta samples during the simulated oral-gastric-small intestinal digestion are shown in drolysis  and SEM drolysis .The design and manufacturing of the high-protein, low-glycaemic, biomimetic potato food Yangyu have broad commercialization, and the prospects are very exciting. Although potato tubers already contain high-quality protein, adding extra plant proteins (soy protein isolate—SPI and pea protein isolate—PPI) as nutrient enhancers to the Yangyu jiaotuan will have many benefits: firstly, the glycaemic index can be reduced; secondly, the protein content can be increased; thirdly, the product can maintain the same taste and texture; fourthly, the price is affordable; fifthly, it is a convenience food; finally, such a potato product is a staple food for its consumer base. The organoleptic properties of Yangyu jiaotuan, the biomimetic potato food in this research, were studied. The research showed that several important textural properties such as hardness and chewiness did not change significantly during the refrigerated storage. Yangyu jiaotuan was fortified with different proteins at different levels, and the results demonstrate that the addition of pea protein isolate enhances the texture profile compared to the addition of soy protein isolate. The in vitro starch digestion experiments showed that the starch hydrolysis of Yangyu jiaotuan decreased considerably with the increase in PPI content and during refrigerated storage due to starch retrogradation. In addition, the particle size distribution analysis experiments showed that the developed Yangyu jiaotuan contains two different sizes of particles; the smaller particles corresponded to PPI and starch granules, while the larger particles corresponded to the fragments of the gel network of the starch matrix.Based on the popularity of this potato-based product in China, this product was selected to create a high protein and low glycaemic version of Yangyu jiaotuan. This project can be very useful for the potato processing industry in China if it decides to manufacture this new Yangyu jiaotuan, which is a very healthy and nutritious food, especially for people with diabetes and obesity. The starch hydrolysis during in vitro gastro-small intestinal digestion clearly shows that the newly developed product has a lower starch hydrolysis or estimated glycaemic index than the control sample. It provides more protein and a lower glycaemic index, and is a convenience food that fits the modern lifestyle and the demands of the millennial population in China. We expect that it will be a big success if this product reaches the restaurant market in China. This product also fits with the Chinese Government’s policy of “Potato as a staple food” and complies with the biomimetic potato food very well.


Uterus transplantation (UTx) is now an alternative to surrogacy and adoption for women with uterine factor infertility to have children; however, there are still unresolved clinical and technical issues. One of these is that the graft failure rate after transplantation is somewhat higher than that of other life-saving organ transplants, which is a critical concern. Herein, we summarize the details of 16 graft failures after UTx with living or deceased donors using the published literature in order to learn from these negative outcomes. To date, the main causes of graft failure are vascular factors . Many recipients with thrombosis develop graft failure within one month of surgery. Therefore, it is necessary to devise a safe and stable surgical technique with higher success rates for further development in the UTx field. Uterus transplantation (UTx) is a new possible approach for women with uterine factor infertility (UFI) to have children. Following the first successful surgical engraftment of the uterus with a deceased donor by Ozkan et al. in Turkey in 2011 . MoreoveHowever, regarding the safety of this procedure, there are still open questions. In particular, living donor surgery is highly invasive because of the difficulty in procuring deep uterine veins running along the pelvic floor, which may result in a prolonged operation, significant bleeding, and surgical complications . The ratIn recipients, there are various physical and psychological burdens related to oocyte collection, transplant surgery, immunosuppressant use, etc., before and after UTx, including during pregnancy. Therefore, recipients must give full informed consent prior to participation in clinical trials because they may ultimately be unable to conceive through UTx despite these burdens. Moreover, anastomosis of vessels represents another challenging step because of the small vascular sizes, which leads to increased warm ischemia times and risks of graft explantation when vascular thrombosis occurs. In fact, the initial report from the International Society of Uterus Transplantation (ISUTx) stated that transplant hysterectomies were performed in 12 of 45 recipients  . This hiThis study aimed to thoroughly review data on graft failures in recipients after UTx. Graft failure in UTx is defined as the need to unexpectedly explant the uterine graft before embryo transfer.We searched the PubMed database on 5 December 2022, using the search terms “uterus transplantation” OR “uterine transplantation”. We included prospective cohort studies, reviews, case reports, and the ISUTx registry report that focused exclusively on human studies, used the English language, and published between March 2002 and December 2022. A manual search of bibliographies was independently conducted by two reviewers (I.K. and R.M.) and all data regarding graft failure after UTx were extracted.A total of 16 graft failures after UTx were reported by five centers in peer-reviewed journals as shown in Vascular thrombosis was the most common cause of uterine graft failure. Graft failure occurred in most cases within one month after UTx. Hysterectomy was performed in all the cases . Of the Details of the graft failures after UTx experienced by each team are summarized.The first attempt at performing UTx was made by a team in Saudi Arabia in 2000 . The recEnterococcus faecalis culture was confirmed. She was treated with antibiotics, but eventually developed an intrauterine abscess. Although surgical drainage was attempted, a hysterectomy was performed on POD 105. The explanted uterus mainly showed a viable myometrium, whereas the inner half was necrotic with focal neutrophil infiltration, but no signs of rejection [The first prospective cohort study was conducted by a Swedish team between 2012–2013 ,15,16,17ejection ,18. The ejection . The recejection .Escherichia coli (#4) or Enterococcus faecium (#5) in a vaginal or cervical culture. Histopathologically, the endometrium and inner half of the myometrium were necrotic, whereas the outer half showed a partly viable myometrium [Between 2017 and 2019, the team conducted a second clinical trial using robot-assisted donor surgery in eight patients . Two of ometrium . ModeratNotably, this team encountered a case of life-threatening post-transplant lymphoproliferative disorder after UTx with a deceased donor, thereby resulting in a hysterectomy. Recipient #6 had severe intestinal pain and bleeding episodes, and was diagnosed with Epstein–Barr virus-infected intestinal lymphoma ,22. RecuIn the United States, a Cleveland team performed eight UTx procedures with a deceased donor ,25,26,27A Dallas team started a UTx trial in 2016 and performed the most UTx procedures to date, with a total of 22 cases ,39,40,41The recipients (#8–10) lost their uterine grafts due to vascular complications related to inflow and outflow problems as the primary reason for their graft losses, all of which were performed with living donors ,32. GrafOf the three remaining graft failures in the Dallas trial (#11–13), only recipient #12 underwent UTx from a brain-dead donor. In recipients #11 and #12, the graft failed to properly reperfuse, despite patent vasculature . In reciA Czech Republic team performed 10 UTx procedures between 2016 and 2018 with five living and five deceased donors in a two-arm study comparing the efficacy of UTx ,47,48,49The second case (#15) of graft failure required hysterectomy, despite a technically successful operation. Herpes simplex virus-2 (HSV-2) was detected in a uterocervical biopsy on POD 40; this was treated with antiviral therapy. However, no menstrual bleeding appeared without the endometrium on an ultrasound examination. Post-infection stenosis of the cervical canal was present and transcervical access to the uterine cavity was not possible. Despite hormonal therapy, endometrial growth was not observed. Therefore, a graft hysterectomy was performed on POD 213. Histopathological examination of the graft revealed fibrous obliteration of the cervical canal and uterine cavity, possibly due to a combination of chronic rejection changes , vascular thrombosis, graft atherosclerosis, and HSV infection.The third case (#16) also underwent hysterectomy due to vascular thrombosis. Clinical symptoms similar to those of the first case (#14)  were observed. Relaparotomy was performed on POD 5 and a congested but pink uterus with dilated veins was found. A hematoma was removed and thrombectomy of the left uterine vein was performed, followed by additional anastomosis of the right ovarian vein. Unfortunately, the cervix became livid again and Doppler vascular flow ceased. Hysterectomy was removed 15 days after the first UTx procedure. Histopathological examination revealed hemorrhagic necrosis of the graft. Additionally, immunological testing confirmed a positive T cell fluorescence-activated cell sorter crossmatch and the presence of de novo donor-specific antibodies against human leukocyte antigen class I, leading the team to speculate that thrombosis development involved immune rejection.Uterus transplantation is now an alternative to surrogacy and adoption for women with UFI desiring to have children; however, there are remaining clinical and technical issues yet to be resolved ,8,10,50.A total of 16 graft failures after UTx have been reported by multiple facilities in the peer-reviewed literature. These facilities, with the exception of Saudi Arabia, have performed at least eight uterine transplants. In addition to the report in this review, one case each from China (Guangzhou) , ClevelaThe term “graft failure” in this article is defined as an unexpected explant of the uterine graft before embryo transfer and does not include cases of hysterectomy after delivery or hysterectomy after engraftment without resulting in pregnancy. Decision-making and the timing of removal in these situations are other concerns ,52,53. IIn the 16 cases, most graft failures were due to vascular causes . Many recipients with thrombosis developed graft failure within one month of surgery. Other major causes are infections, such as Candida and herpes infections. Graft failures related to rejection were rare and discovered after graft hysterectomy. Approximately one-third of UTx procedures are performed with deceased donors, but the graft failure rates for living and deceased donors appear to be comparable, as five out of 16 graft failures were from deceased donors. In living donor surgery, the uterine arteries and deep uterine veins are preserved, including segments of the internal iliac artery and vein. Dissection of the bilateral deep uterine veins, with their many branches and close proximity to the ureters, is complex and time-consuming. Therefore, the use of ovarian or utero-ovarian veins instead of uterine veins for the venous outflow has been attempted. Since UTx with living donors requires a smaller vascular anastomosis than renal or liver transplantation, the cause of intravascular thrombus may have a higher technical component. However, UTx from deceased donors does not appear to fall under this category because larger vessels can be procured. Intravascular thrombus was a more common cause of graft failure in UTx procedures in living donors than those in deceased donors . TherefoComplications of intravascular thrombi can be divided into venous and arterial thrombi, and the countermeasures for each are likely to differ. To prevent complications of venous thrombosis, it is necessary to consider anastomotic techniques that do not cause blood flow congestion. Based on the experience with negative results in the first three cases associated with the Dallas team, they modified their venous vascular anastomosis technique and better results were obtained in subsequent cases ,32,38. IA diagnosis of graft failure should be made promptly for subsequent correspondence of the recipient. Maintaining irreversibly unrecovered uterine function would impose unnecessary immunosuppressants, physical and psychological burdens, and risks on the recipient. While dysfunction in vital organs, such as the liver and kidneys, can often be detected by laboratory examinations, the uterus is not a vital organ and therefore, has no characteristic findings in laboratory studies. In cynomolgus experiments, it has been reported that blood cells, lactate dehydrogenase, and C-reactive protein are temporarily elevated in individuals with irreversible rejection , howeverIn all 16 cases of graft failure, the transplanted uteri were excised. A major concern with UTx is whether a uterus with graft failure should be removed. Vital organs experience life-threatening conditions if their function is lost, however, the uterus is not immediately critical for survival, even when graft failure develops, because the uterus is not a life-saving organ. In renal transplantation, the rate of surgical transplant nephrectomy after graft failure (atrophy and/or possible necrosis) has been reported to be 20–80%, and it primarily depends on institutional policies . There iIt is expected that more than 100 cases of UTx will be performed worldwide in the near future, and new technology has the potential to break out of the experimental stage and become a standard treatment for women with UFI. However, the engraftment rate after transplantation is still lower than that of other organs. Therefore, it is essential to clarify and verify the negative data to overcome this problem.In conclusion, to date, the main causes of graft failure have been vascular factors . Many recipients with thrombosis develop graft failure within one month of surgery. Therefore, it is necessary to devise safe and stable surgical techniques with a higher success rate for further development in the UTx field.


Correction: International Archives of Occupational and Environmental Health (2022) 95:233–247 10.1007/s00420-021-01737-4We have discovered an error in the fractions of depression attributable to workplace bullying presented in Table 6 in our recently published paper (Niedhammer et al.