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Purpose: This paper aims to understand how the different stakeholders assess the adequacy of smart specialization policies defined for their regions. Design/methodology/approach: This paper has followed a quantitative methodology through the application of questionnaire surveys to stakeholders of the various territorial regions in Portugal. Findings: As a result, from the “resource-based view” approach applied to the various regions, the attained results highlight that the suitability of smart specialization policies defined for the Portuguese regions is not unanimous among its stakeholders. Originality/value: The research can be used as a tool to assist regional policymakers in strategic reflection when defining and adjusting smart specialization strategies in their territories.

Purpose – Regional innovation performance is an important indicator for decision-making regarding the implementation of policies intended for regional development. However, regional development policies have led economies to very different competitive positions in matters of innovation. To address these issues, this paper aims to identify the variables that most contribute to the positioning of economies in terms of performance innovation in Europe. Design/methodology/approach – The data for this study were collected at the regional innovation scoreboard. This paper uses a quantitative methodology through a multivariate statistical technique (discriminant analysis). Findings – The results suggest that specific innovation strategies explain the competitive positioning of economies within each group of countries. It was possible to demonstrate that economies with leader classification show greater comparative robustness in the variables “Small and medium enterprise (SMEs) with product or process innovations,” “SMEs with product or process innovations,” “research and development (R&D) expenditure public sector” and “population with tertiary education,” constituting an effective instrument of innovation policy. Furthermore, it was possible to show that the economies belonging to the modest group do not have a competitive advantage in any of the variables under study, thus providing a reflection opportunity for policymakers at this level. Originality/value – The present research identifies which variables are most relevant to the classification considering the regional innovation performance in leader, strong, moderate and modest. Several suggestions were given to companies, policymakers and higher education institutions in the sense that the regions where they operate can improve their innovative performance, which may help to a change in their current classification.