Pub Date : 2024-04-17DOI: 10.1016/j.ijis.2024.04.004
Jussi S. Jauhiainen
Today, the Metaverse consists of various platforms, including digital twins of the physical world as well as virtual and blended digital-material environments that offer immersive experiences for individual users. By going beyond solely physical or virtual realms, these platforms unlock new possibilities for exploration, experimentation, and interaction. This makes it possible to transcend the limitations of innovation processes confined to physical locations, so the Metaverse is thus poised to drive groundbreaking innovations. This article explores the Metaverse as an innovation platform, its opportunities and challenges, including the role of generative AI in it. It discusses how the Metaverse, as a collaboration, creativity, and technological platform, supports innovation potential. By embracing the possibilities and challenges offered by the Metaverse and leveraging the capabilities of generative AI within it, a future in which individuals can truly explore novel synergies between the physical and digital realms, thriving various kinds of innovations. It is crucial to achieve holistic sustainability impacts both within the Metaverse innovation platform and as its outputs.
{"title":"The Metaverse: Innovations and generative AI","authors":"Jussi S. Jauhiainen","doi":"10.1016/j.ijis.2024.04.004","DOIUrl":"10.1016/j.ijis.2024.04.004","url":null,"abstract":"<div><p>Today, the Metaverse consists of various platforms, including digital twins of the physical world as well as virtual and blended digital-material environments that offer immersive experiences for individual users. By going beyond solely physical or virtual realms, these platforms unlock new possibilities for exploration, experimentation, and interaction. This makes it possible to transcend the limitations of innovation processes confined to physical locations, so the Metaverse is thus poised to drive groundbreaking innovations. This article explores the Metaverse as an innovation platform, its opportunities and challenges, including the role of generative AI in it. It discusses how the Metaverse, as a collaboration, creativity, and technological platform, supports innovation potential. By embracing the possibilities and challenges offered by the Metaverse and leveraging the capabilities of generative AI within it, a future in which individuals can truly explore novel synergies between the physical and digital realms, thriving various kinds of innovations. It is crucial to achieve holistic sustainability impacts both within the Metaverse innovation platform and as its outputs.</p></div>","PeriodicalId":36449,"journal":{"name":"International Journal of Innovation Studies","volume":"8 3","pages":"Pages 262-272"},"PeriodicalIF":0.0,"publicationDate":"2024-04-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.sciencedirect.com/science/article/pii/S2096248724000183/pdfft?md5=625444e048f8450ba511e75fe0d87ab2&pid=1-s2.0-S2096248724000183-main.pdf","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140769431","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2024-04-12DOI: 10.1016/j.ijis.2024.04.001
Pedro Mendi, Alejandro Ruelas-Gossi
We explore the existence of a relationship between firms' allocentric approach, measured by their collaboration activities for innovation, and the orientation of their innovation. In particular, we propose a distinction between numerator-driven and denominator-driven innovation and how that relates to collaboration. We discuss the theoretical underpinnings of this relationship and test its existence using survey data from the PITEC, a panel of Spanish firms. We find that cooperation is indeed associated with a greater emphasis on numerator-driven innovation relative to denominator-driven innovation.
{"title":"Allocentrism and numerator-based innovation: Panel data evidence","authors":"Pedro Mendi, Alejandro Ruelas-Gossi","doi":"10.1016/j.ijis.2024.04.001","DOIUrl":"https://doi.org/10.1016/j.ijis.2024.04.001","url":null,"abstract":"<div><p>We explore the existence of a relationship between firms' allocentric approach, measured by their collaboration activities for innovation, and the orientation of their innovation. In particular, we propose a distinction between numerator-driven and denominator-driven innovation and how that relates to collaboration. We discuss the theoretical underpinnings of this relationship and test its existence using survey data from the PITEC, a panel of Spanish firms. We find that cooperation is indeed associated with a greater emphasis on numerator-driven innovation relative to denominator-driven innovation.</p></div>","PeriodicalId":36449,"journal":{"name":"International Journal of Innovation Studies","volume":"8 3","pages":"Pages 249-261"},"PeriodicalIF":0.0,"publicationDate":"2024-04-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.sciencedirect.com/science/article/pii/S2096248724000158/pdfft?md5=6e1a2eadfda08ccb9d1c6702d080aab5&pid=1-s2.0-S2096248724000158-main.pdf","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141095504","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2024-04-12DOI: 10.1016/j.ijis.2024.04.005
Adam Sulich , Letycja Soloducho-Pelc
This study explores the interaction between the business ecosystem and strategic management. This research is driven by the necessity of understanding how the principles of the business ecosystem influence organizational strategic management. A Systematic Literature Review was carried out, focusing on a detailed analysis of articles indexed in the Scopus academic database. The research procedure aimed to uncover emerging perspectives on strategic management and the development of business ecosystems. The findings reveal a substantial gap in research regarding business ecosystems and sustainable strategic management. The paper suggests a new research agenda and proposes novel pathways for future investigations in this field.
{"title":"Strategic management and business ecosystem scientific relations—key areas review","authors":"Adam Sulich , Letycja Soloducho-Pelc","doi":"10.1016/j.ijis.2024.04.005","DOIUrl":"10.1016/j.ijis.2024.04.005","url":null,"abstract":"<div><p>This study explores the interaction between the business ecosystem and strategic management. This research is driven by the necessity of understanding how the principles of the business ecosystem influence organizational strategic management. A Systematic Literature Review was carried out, focusing on a detailed analysis of articles indexed in the Scopus academic database. The research procedure aimed to uncover emerging perspectives on strategic management and the development of business ecosystems. The findings reveal a substantial gap in research regarding business ecosystems and sustainable strategic management. The paper suggests a new research agenda and proposes novel pathways for future investigations in this field.</p></div>","PeriodicalId":36449,"journal":{"name":"International Journal of Innovation Studies","volume":"8 3","pages":"Pages 287-296"},"PeriodicalIF":4.2,"publicationDate":"2024-04-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.sciencedirect.com/science/article/pii/S2096248724000195/pdfft?md5=8509dae7003bfd7511733bf4a4d5d6dd&pid=1-s2.0-S2096248724000195-main.pdf","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140788465","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2024-04-12DOI: 10.1016/j.ijis.2024.04.002
Elena Shkarupeta , Aleksandr Babkin
This article explores how eco-innovation practices are integrated into different industrial ecosystems in different national and regional contexts, and the role of the quintuple helix model in this integration. The research examines the collaborative interaction of academia, industry, government, civil society, and the natural environment in fostering an integrated eco-innovation ecosystem. The findings underscore the central role of the Quintuple Helix framework in effectively managing eco-innovation, suggesting a comprehensive approach that integrates environmental and societal concerns into a dynamic system for sustainable progress. The study shows that an ecosystem-based approach, underpinned by the quintuple helix, facilitates the rapid exchange of knowledge and resources essential to overcoming eco-innovation challenges, such as high R&D expenditures and the complex integration of sustainable technologies. The quintuple helix model emerges as a strategic imperative for concerted action to achieve eco-efficiency and eco-effectiveness. The study employs an innovative methodological framework based on Quintuple Helix projections using the Eco-Innovation Index (Eco-IS) and highlights significant trends in the roles of academia, industry, government, civil society, and the natural environment in eco-innovation, with a particular focus on their contributions to eco-innovation leaders, average performers, and catching-up groups. The article describes the different roles and interdependencies of the actors within the ecosystem and urges a coherent, networked strategy for managing eco-innovation, which is crucial for sustainable and responsible growth. Acknowledging the issue of externalities that complicate eco-innovation management, the article posits that the quintuple helix framework can better address these challenges by enabling shared R&D investments and broad diffusion of innovations. This research contributes to the discourse on sustainable industrial development by proposing the quintuple helix as a transformative model for improving eco-innovation performance and fostering a culture of sustainability.
{"title":"Eco-innovative development of industrial ecosystems based on the quintuple helix","authors":"Elena Shkarupeta , Aleksandr Babkin","doi":"10.1016/j.ijis.2024.04.002","DOIUrl":"10.1016/j.ijis.2024.04.002","url":null,"abstract":"<div><p>This article explores how eco-innovation practices are integrated into different industrial ecosystems in different national and regional contexts, and the role of the quintuple helix model in this integration. The research examines the collaborative interaction of academia, industry, government, civil society, and the natural environment in fostering an integrated eco-innovation ecosystem. The findings underscore the central role of the Quintuple Helix framework in effectively managing eco-innovation, suggesting a comprehensive approach that integrates environmental and societal concerns into a dynamic system for sustainable progress. The study shows that an ecosystem-based approach, underpinned by the quintuple helix, facilitates the rapid exchange of knowledge and resources essential to overcoming eco-innovation challenges, such as high R&D expenditures and the complex integration of sustainable technologies. The quintuple helix model emerges as a strategic imperative for concerted action to achieve eco-efficiency and eco-effectiveness. The study employs an innovative methodological framework based on Quintuple Helix projections using the Eco-Innovation Index (Eco-IS) and highlights significant trends in the roles of academia, industry, government, civil society, and the natural environment in eco-innovation, with a particular focus on their contributions to eco-innovation leaders, average performers, and catching-up groups. The article describes the different roles and interdependencies of the actors within the ecosystem and urges a coherent, networked strategy for managing eco-innovation, which is crucial for sustainable and responsible growth. Acknowledging the issue of externalities that complicate eco-innovation management, the article posits that the quintuple helix framework can better address these challenges by enabling shared R&D investments and broad diffusion of innovations. This research contributes to the discourse on sustainable industrial development by proposing the quintuple helix as a transformative model for improving eco-innovation performance and fostering a culture of sustainability.</p></div>","PeriodicalId":36449,"journal":{"name":"International Journal of Innovation Studies","volume":"8 3","pages":"Pages 273-286"},"PeriodicalIF":0.0,"publicationDate":"2024-04-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.sciencedirect.com/science/article/pii/S209624872400016X/pdfft?md5=33b627417f4805a2e4b175dcb137f50a&pid=1-s2.0-S209624872400016X-main.pdf","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140797009","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Social services are a protection system that seeks to assist people throughout their lives. Innovation is essential for enabling us to respond to the problems that society is currently facing and to adapt to our changing world. This paper validates an instrument based on the Public Innovation Hexagon (PIH), for measuring the degree to which an innovation culture is being implemented in the Spanish social services system. A sample group of social services professionals were asked to complete a questionnaire based on the variables that make up the PIH model. After our initial validation of the PIH model, we reduced the 42 initial items to 32, while maintaining the initial six dimensions. The objective was to eliminate redundant items and ensure that the resulting end model was more solid and reliable. The new improved model (PIHn) that we created achieved greater consistency with a smaller number of items while maintaining the initial six dimensions.
{"title":"Reliability and validity of the public innovation Hexagon (PIH) as applied to the Spanish social services","authors":"Jaime Minguijón , Cecilia Serrano-Martínez , Esther Raya-Diez","doi":"10.1016/j.ijis.2024.02.004","DOIUrl":"10.1016/j.ijis.2024.02.004","url":null,"abstract":"<div><p>Social services are a protection system that seeks to assist people throughout their lives. Innovation is essential for enabling us to respond to the problems that society is currently facing and to adapt to our changing world. This paper validates an instrument based on the Public Innovation Hexagon (PIH), for measuring the degree to which an innovation culture is being implemented in the Spanish social services system. A sample group of social services professionals were asked to complete a questionnaire based on the variables that make up the PIH model. After our initial validation of the PIH model, we reduced the 42 initial items to 32, while maintaining the initial six dimensions. The objective was to eliminate redundant items and ensure that the resulting end model was more solid and reliable. The new improved model (PIHn) that we created achieved greater consistency with a smaller number of items while maintaining the initial six dimensions.</p></div>","PeriodicalId":36449,"journal":{"name":"International Journal of Innovation Studies","volume":"8 3","pages":"Pages 237-248"},"PeriodicalIF":0.0,"publicationDate":"2024-02-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.sciencedirect.com/science/article/pii/S2096248724000079/pdfft?md5=20d3f27d2d826dd5d9b703b37e05019a&pid=1-s2.0-S2096248724000079-main.pdf","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140464482","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2024-02-21DOI: 10.1016/j.ijis.2024.02.003
Christian Sarfo , Jing A. Zhang , Conor O'Kane , Paula O'Kane
This study examines how perceived value of microfinance and exploratory innovation affect small and medium-sized enterprises (SME) performance in the context of a developing nation. Drawing on the strategic innovation and microfinance literature, we hypothesize that (1) perceived value of microfinance affects exploratory innovation and SME performance, and (2) exploratory innovation serves as an effective mechanism through which microfinance enhances SME performance. We employ partial least squares structural equation modeling (PLS-SEM) to test our hypotheses. Using a sample of 581 Ghanaian SMEs with microfinance, the results of the PLS-SEM support our hypotheses. We further conducted a qualitative analysis of comments provided by the SMEs (n = 144) to gain a deeper understanding of exploratory innovation in developing economies. Our findings show that SMEs purposefully attempt to strengthen their exploratory innovation in microfinance. We discuss the theoretical and practical implications of these findings as well as future research avenues.
{"title":"Perceived value of microfinance and SME performance: The role of exploratory innovation","authors":"Christian Sarfo , Jing A. Zhang , Conor O'Kane , Paula O'Kane","doi":"10.1016/j.ijis.2024.02.003","DOIUrl":"https://doi.org/10.1016/j.ijis.2024.02.003","url":null,"abstract":"<div><p>This study examines how perceived value of microfinance and exploratory innovation affect small and medium-sized enterprises (SME) performance in the context of a developing nation. Drawing on the strategic innovation and microfinance literature, we hypothesize that (1) perceived value of microfinance affects exploratory innovation and SME performance, and (2) exploratory innovation serves as an effective mechanism through which microfinance enhances SME performance. We employ partial least squares structural equation modeling (PLS-SEM) to test our hypotheses. Using a sample of 581 Ghanaian SMEs with microfinance, the results of the PLS-SEM support our hypotheses. We further conducted a qualitative analysis of comments provided by the SMEs (<em>n</em> = 144) to gain a deeper understanding of exploratory innovation in developing economies. Our findings show that SMEs purposefully attempt to strengthen their exploratory innovation in microfinance. We discuss the theoretical and practical implications of these findings as well as future research avenues.</p></div>","PeriodicalId":36449,"journal":{"name":"International Journal of Innovation Studies","volume":"8 2","pages":"Pages 172-185"},"PeriodicalIF":0.0,"publicationDate":"2024-02-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.sciencedirect.com/science/article/pii/S2096248724000067/pdfft?md5=a92b36f7c04b7af9cf9c48f344625daa&pid=1-s2.0-S2096248724000067-main.pdf","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140327774","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2024-02-08DOI: 10.1016/j.ijis.2024.02.002
Charles S. Saba , Simplice A. Asongu , Nicholas Ngepah , Yolande E. Ngoungou
The present study assesses how governance affects information and communication technology (ICT) at the global level contingent on macroeconomic policy factors such as trade, foreign direct investment (FDI), manufacturing value added, and agricultural value added. The study focuses on 183 countries from 2003 to 2021, and the empirical evidence is based on the generalized method of moments (GMM). The following main findings are established. For the full sample, governance unconditionally promotes ICT development, while trade openness (industrial added value) moderates governance to promote (dampen) ICT development. In sub-Saharan Africa, only trade openness effectively moderates governance to induce an overall positive effect on ICT, while in the Middle East and North Africa (MENA) region, all policy variables moderate governance for an overall positive incidence on ICT sector development. The findings for the MENA region are confirmed in the Europe and Central Asia (ECA) region, with the exception of the moderating role of industrial added value, which engenders an overall negative effect. In the East and South Asia and the Pacific (ESAP) countries, one overall positive incidence is apparent in the role of trade openness, while net negative effects are established from the moderating roles of industrial added value and agricultural added value. In the American sub-sample, a positive (negative) net effect is apparent from the role of industrial added value (trade) in moderating the incidence of governance on ICT sector development. Finally, policy implications are discussed.
{"title":"Governance in the exploration of global and regional determinants of ICT development","authors":"Charles S. Saba , Simplice A. Asongu , Nicholas Ngepah , Yolande E. Ngoungou","doi":"10.1016/j.ijis.2024.02.002","DOIUrl":"10.1016/j.ijis.2024.02.002","url":null,"abstract":"<div><p>The present study assesses how governance affects information and communication technology (ICT) at the global level contingent on macroeconomic policy factors such as trade, foreign direct investment (FDI), manufacturing value added, and agricultural value added. The study focuses on 183 countries from 2003 to 2021, and the empirical evidence is based on the generalized method of moments (GMM). The following main findings are established. For the full sample, governance unconditionally promotes ICT development, while trade openness (industrial added value) moderates governance to promote (dampen) ICT development. In sub-Saharan Africa, only trade openness effectively moderates governance to induce an overall positive effect on ICT, while in the Middle East and North Africa (MENA) region, all policy variables moderate governance for an overall positive incidence on ICT sector development. The findings for the MENA region are confirmed in the Europe and Central Asia (ECA) region, with the exception of the moderating role of industrial added value, which engenders an overall negative effect. In the East and South Asia and the Pacific (ESAP) countries, one overall positive incidence is apparent in the role of trade openness, while net negative effects are established from the moderating roles of industrial added value and agricultural added value. In the American sub-sample, a positive (negative) net effect is apparent from the role of industrial added value (trade) in moderating the incidence of governance on ICT sector development. Finally, policy implications are discussed.</p></div>","PeriodicalId":36449,"journal":{"name":"International Journal of Innovation Studies","volume":"8 2","pages":"Pages 132-153"},"PeriodicalIF":0.0,"publicationDate":"2024-02-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.sciencedirect.com/science/article/pii/S2096248724000055/pdfft?md5=8bcb625f55f13cba4aa94f62eaba5367&pid=1-s2.0-S2096248724000055-main.pdf","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139884974","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2024-02-07DOI: 10.1016/j.ijis.2024.02.001
Fadi Abdelfattah , Mohammed Salah , Khalid Dahleez , Riyad Darwazeh , Hussam Al Halbusi
This study delves into the dynamics of green product innovation, artificial intelligence (AI) adaption, and intellectual capital, investigating their impact on the competitiveness of firms in Oman. It emphasizes the crucial role of government intervention and R&D investments in this process. Based on the responses of 214 top managers in Oman, the research employs structural equation modeling to analyze the intricate relationships between these factors. The findings underscore a significant positive correlation between green innovation, AI implementation, and intellectual capital, with government involvement and R&D investments as vital moderators. This study provides a novel perspective on the synergy of technology, innovation, and intellectual capital in developing economies. It offers essential insights for business leaders, policymakers, and scholars, highlighting the necessity of integrating advanced technologies and sustainable practices in business strategies to achieve competitive advantage. The research adds to the existing body of knowledge on innovation and competitiveness. It offers practical implications for enhancing firm performance in Oman and similar emerging markets.
{"title":"The future of competitive advantage in Oman: Integrating green product innovation, AI, and intellectual capital in business strategies","authors":"Fadi Abdelfattah , Mohammed Salah , Khalid Dahleez , Riyad Darwazeh , Hussam Al Halbusi","doi":"10.1016/j.ijis.2024.02.001","DOIUrl":"10.1016/j.ijis.2024.02.001","url":null,"abstract":"<div><p>This study delves into the dynamics of green product innovation, artificial intelligence (AI) adaption, and intellectual capital, investigating their impact on the competitiveness of firms in Oman. It emphasizes the crucial role of government intervention and R&D investments in this process. Based on the responses of 214 top managers in Oman, the research employs structural equation modeling to analyze the intricate relationships between these factors. The findings underscore a significant positive correlation between green innovation, AI implementation, and intellectual capital, with government involvement and R&D investments as vital moderators. This study provides a novel perspective on the synergy of technology, innovation, and intellectual capital in developing economies. It offers essential insights for business leaders, policymakers, and scholars, highlighting the necessity of integrating advanced technologies and sustainable practices in business strategies to achieve competitive advantage. The research adds to the existing body of knowledge on innovation and competitiveness. It offers practical implications for enhancing firm performance in Oman and similar emerging markets.</p></div>","PeriodicalId":36449,"journal":{"name":"International Journal of Innovation Studies","volume":"8 2","pages":"Pages 154-171"},"PeriodicalIF":0.0,"publicationDate":"2024-02-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.sciencedirect.com/science/article/pii/S2096248724000043/pdfft?md5=0e8faf3411024007fcc5bc161aba625b&pid=1-s2.0-S2096248724000043-main.pdf","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139826583","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2024-01-17DOI: 10.1016/j.ijis.2024.01.003
Wanyi Chen , Yuchuan Xie , Kang He
Environmental, social, and governance (ESG) performance, along with the novelty of innovation, are significant factors in promoting sustainable development for corporations. This study employs the Heckman two-stage model to examine the impact of ESG performance on innovation novelty using a dataset comprising A-share listed companies in the Shanghai and Shenzhen Stock Exchanges from 2011 to 2020. The results indicate that enhanced ESG performance significantly fosters innovation by expanding innovation resources and mitigating agency problems. Further analysis reveals that this relationship is more pronounced under high economic policy uncertainty, a challenging information environment, elevated financing constraints, and in the context of digital transformation. This study not only expands the research on the economic implications of ESG performance for enterprise innovation behavior but also places a distinct emphasis on innovation quality rather than quantity. Additionally, this study enriches the existing literature on the factors influencing innovation novelty and extends research into the link between environmental protection and firm innovation, particularly from the perspective of stakeholder theory. Furthermore, this study holds practical significance for governments aiming to enhance ESG evaluation systems and establish guiding policies that encourage novel innovations, ultimately contributing to sustainable and high-quality development. Simultaneously, this study provides guidance to enterprises by encouraging them to embrace green development, improve social responsibility, and elevate their governance standards to promote innovation quality.
环境、社会和治理(ESG)绩效以及创新新颖性是促进企业可持续发展的重要因素。本研究采用赫克曼两阶段模型,以 2011 年至 2020 年沪深证券交易所 A 股上市公司为数据集,考察了环境、社会和治理绩效对创新新颖性的影响。结果表明,ESG绩效的提高能扩大创新资源,缓解代理问题,从而显著促进创新。进一步的分析表明,在经济政策不确定性高、信息环境充满挑战、融资约束增加以及数字化转型的背景下,这种关系更为明显。本研究不仅拓展了环境、社会和治理绩效对企业创新行为的经济影响的研究,而且明显强调了创新的质量而非数量。此外,本研究还丰富了有关创新新颖性影响因素的现有文献,并拓展了有关环境保护与企业创新之间联系的研究,尤其是从利益相关者理论的角度进行的研究。此外,本研究对于各国政府加强环境、社会和治理评价体系,制定鼓励创新的指导性政策,最终促进可持续和高质量发展,也具有重要的现实意义。同时,本研究也为企业提供了指导,鼓励企业拥抱绿色发展,提高社会责任感,提升治理水平,促进创新质量的提高。
{"title":"Environmental, social, and governance performance and corporate innovation novelty","authors":"Wanyi Chen , Yuchuan Xie , Kang He","doi":"10.1016/j.ijis.2024.01.003","DOIUrl":"10.1016/j.ijis.2024.01.003","url":null,"abstract":"<div><p>Environmental, social, and governance (ESG) performance, along with the novelty of innovation, are significant factors in promoting sustainable development for corporations. This study employs the Heckman two-stage model to examine the impact of ESG performance on innovation novelty using a dataset comprising A-share listed companies in the Shanghai and Shenzhen Stock Exchanges from 2011 to 2020. The results indicate that enhanced ESG performance significantly fosters innovation by expanding innovation resources and mitigating agency problems. Further analysis reveals that this relationship is more pronounced under high economic policy uncertainty, a challenging information environment, elevated financing constraints, and in the context of digital transformation. This study not only expands the research on the economic implications of ESG performance for enterprise innovation behavior but also places a distinct emphasis on innovation quality rather than quantity. Additionally, this study enriches the existing literature on the factors influencing innovation novelty and extends research into the link between environmental protection and firm innovation, particularly from the perspective of stakeholder theory. Furthermore, this study holds practical significance for governments aiming to enhance ESG evaluation systems and establish guiding policies that encourage novel innovations, ultimately contributing to sustainable and high-quality development. Simultaneously, this study provides guidance to enterprises by encouraging them to embrace green development, improve social responsibility, and elevate their governance standards to promote innovation quality.</p></div>","PeriodicalId":36449,"journal":{"name":"International Journal of Innovation Studies","volume":"8 2","pages":"Pages 109-131"},"PeriodicalIF":0.0,"publicationDate":"2024-01-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.sciencedirect.com/science/article/pii/S2096248724000031/pdfft?md5=5a487efc7408a7acdb25ad0e549a9c3b&pid=1-s2.0-S2096248724000031-main.pdf","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139634861","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2024-01-17DOI: 10.1016/j.ijis.2024.01.002
Anna A. Fedyunina, Nikolay A. Gorodnyi, Yuri V. Simachev
This study explores the relationships among Industry 4.0 technologies, their application areas, and the involvement of Russian manufacturing firms in global and domestic value chains. We apply logit and multinomial logit regressions using an original survey dataset of approximately 1700 Russian manufacturing firms. We make a novel contribution to the literature by uncovering an asymmetry in adopting Industry 4.0 technologies among Russian industrial firms in domestic value chains (DVCs) and global value chains (GVCs). This asymmetry has the potential to impede GVC localization and DVC internationalization. Based on our results, software automation solutions are the only ones demonstrating statistical significance for firms participating simultaneously in GVCs, DVCs, and both GVCs and DVCs. Companies in DVCs demonstrate a broader utilization of Industry 4.0 technologies across various application areas. We also identify evidence of reshoring in DVCs, indicating that Industry 4.0 adoption encourages firms to establish enduring relationships with domestic suppliers. Highlighting that differences in technology adoption are influenced by external factors, including adherence to international standards and regulatory principles, we propose policy implications for developing countries. Recommendations encompass reducing entry barriers to DVCs, improving procurement transparency, and promoting competition in the digital solutions market to empower firms for seamless GVC integration.
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