The purpose of the work is to determine the impact of R&D activities and patent activity on the business performance of high-tech companies with the largest number of patent applications according to the records of the World Intellectual Property Organization (WIPO).The research sample consists of 33 high-technology companies that were continuously on the WIPO's Top 50 PCT applicants list in the period from 2013 to 2020. Regression analyses have been performed to determine the impact of R&D activity and patent activity on the business performance of high-technology companies.The research confirms the importance of R&D and patent activity for the business performance of high-technology companies. This study revealed that R&D investment, number of granted patents and published PCT applications have a positive influence on sales revenue, gross profit, operating profit, earnings before interest and taxes, earnings before interest, taxes, depreciation, and amortization, market capitalisation. The positive influence of patent activity indicators on return on equity is also present; however, the influence of R&D investment on return on equity is negative.The research results have significant implications for R&D, intellectual property and corporate managers of high-tech companies in terms of significantly improving the efficiency of R&D investments and their impact on company’s profitability. Also, there are significant implications related to improving the effectiveness of the innovation process and patent activity and their impact on other business performance.The originality of this study is reflected in studying the influence of patent activity indicators on gross profit, earnings before interest and taxes, earnings before interest, taxes, depreciation, and amortization, and return on equity.
{"title":"THE INFLUENCE OF RESEARCH AND DEVELOPMENT AND PATENT ACTIVITY ON BUSINESS PERFORMANCE: THE CASE OF HIGH-TECHNOLOGY COMPANIES","authors":"Marija Jovanović, B. Krstić, Tamara Radjenović","doi":"10.22190/fueo230225010j","DOIUrl":"https://doi.org/10.22190/fueo230225010j","url":null,"abstract":"The purpose of the work is to determine the impact of R&D activities and patent activity on the business performance of high-tech companies with the largest number of patent applications according to the records of the World Intellectual Property Organization (WIPO).The research sample consists of 33 high-technology companies that were continuously on the WIPO's Top 50 PCT applicants list in the period from 2013 to 2020. Regression analyses have been performed to determine the impact of R&D activity and patent activity on the business performance of high-technology companies.The research confirms the importance of R&D and patent activity for the business performance of high-technology companies. This study revealed that R&D investment, number of granted patents and published PCT applications have a positive influence on sales revenue, gross profit, operating profit, earnings before interest and taxes, earnings before interest, taxes, depreciation, and amortization, market capitalisation. The positive influence of patent activity indicators on return on equity is also present; however, the influence of R&D investment on return on equity is negative.The research results have significant implications for R&D, intellectual property and corporate managers of high-tech companies in terms of significantly improving the efficiency of R&D investments and their impact on company’s profitability. Also, there are significant implications related to improving the effectiveness of the innovation process and patent activity and their impact on other business performance.The originality of this study is reflected in studying the influence of patent activity indicators on gross profit, earnings before interest and taxes, earnings before interest, taxes, depreciation, and amortization, and return on equity.","PeriodicalId":508950,"journal":{"name":"Facta Universitatis, Series: Economics and Organization","volume":"42 4","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-11-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139279255","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Products quality and safety are important determinants of countries' export competitiveness. Issues of the quality of agri-food products are gaining more and more importance, bearing in mind modern challenges and consumer needs. This is very important for developing countries, including the Republic of Serbia, bearing in mind the importance of this sector for exports and overall economic development. On the other hand, these countries are lagging behind developed countries in terms of quality standards, due to the expensive certification and quality standardization procedures. The growth of competitiveness should be achieved through the improvement of product quality standards, product differentiation and introduction of innovations in the agri-food sector. The goal of the research is to examine the quality of the most important export agri-food products of the Republic of Serbia. The unit value (UV) index, as a measure of product quality, is used to analyse the quality of the most important agri-food products on the most important export markets, with using secondary ITC data. The multiple regression determined that the improvement of agricultural products quality has a positive impact on the growth of exports and competitiveness of agri-food sector of the Republic of Serbia. Namely, the competitiveness of agri-food sector will depend primarily on the ability of this sector to respond to the requirements related to food safety and quality standards, as well as the possibility of investing and innovating processing capacities, in order to create a high-quality final product with high value added.
{"title":"AGRI-FOOD PRODUCTS QUALITY AS EXPORTS COMPETITIVENESS DETERMINANT OF THE REPUBLIC OF SERBIA","authors":"Miloš Dimitrijević, L. Ristić, D. Despotović","doi":"10.22190/fueo230412008d","DOIUrl":"https://doi.org/10.22190/fueo230412008d","url":null,"abstract":"Products quality and safety are important determinants of countries' export competitiveness. Issues of the quality of agri-food products are gaining more and more importance, bearing in mind modern challenges and consumer needs. This is very important for developing countries, including the Republic of Serbia, bearing in mind the importance of this sector for exports and overall economic development. On the other hand, these countries are lagging behind developed countries in terms of quality standards, due to the expensive certification and quality standardization procedures. The growth of competitiveness should be achieved through the improvement of product quality standards, product differentiation and introduction of innovations in the agri-food sector. The goal of the research is to examine the quality of the most important export agri-food products of the Republic of Serbia. The unit value (UV) index, as a measure of product quality, is used to analyse the quality of the most important agri-food products on the most important export markets, with using secondary ITC data. The multiple regression determined that the improvement of agricultural products quality has a positive impact on the growth of exports and competitiveness of agri-food sector of the Republic of Serbia. Namely, the competitiveness of agri-food sector will depend primarily on the ability of this sector to respond to the requirements related to food safety and quality standards, as well as the possibility of investing and innovating processing capacities, in order to create a high-quality final product with high value added.","PeriodicalId":508950,"journal":{"name":"Facta Universitatis, Series: Economics and Organization","volume":"102 22","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-11-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139279657","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Marija Petrović-Ranđelović, Tatjana Stevanović, Zorana Kostić
The importance of environmental sustainability is becoming greater due to its contribution to greater value for customers and convergence of the circular economy and Industry 4.0, which can improve the efficiency of limited resource use. Based on the information from environmental accounting, managers can more effectively assess the economic impacts that corporate environmental performance generates on the company's operations. Environmental performance can be improved by developing new products and production processes in order to minimize the potential negative environmental impact. Many companies have introduced the practice of corporate self-regulation, which includes environmental management systems and reporting on the company's non-financial performance. The obtained results of the conducted empirical research could help managers make optimal decisions at the right time, and perform effective monitoring and rank of environmental and economic business indicators during the time.
{"title":"THE RELATIONSHIP ANALYSIS BETWEEN ENVIRONMENTAL PERFORMANCE AND ECONOMIC VALUE OF THE COMPANY","authors":"Marija Petrović-Ranđelović, Tatjana Stevanović, Zorana Kostić","doi":"10.22190/fueo221123009p","DOIUrl":"https://doi.org/10.22190/fueo221123009p","url":null,"abstract":"The importance of environmental sustainability is becoming greater due to its contribution to greater value for customers and convergence of the circular economy and Industry 4.0, which can improve the efficiency of limited resource use. Based on the information from environmental accounting, managers can more effectively assess the economic impacts that corporate environmental performance generates on the company's operations. Environmental performance can be improved by developing new products and production processes in order to minimize the potential negative environmental impact. Many companies have introduced the practice of corporate self-regulation, which includes environmental management systems and reporting on the company's non-financial performance. The obtained results of the conducted empirical research could help managers make optimal decisions at the right time, and perform effective monitoring and rank of environmental and economic business indicators during the time.","PeriodicalId":508950,"journal":{"name":"Facta Universitatis, Series: Economics and Organization","volume":"117 5","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-11-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139279329","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
One of the ways to solve economic and social problems is social entrepreneurship. In today's turbulent environment, the question of survival is posed to all economic entities, including those who operate as entities of social entrepreneurship. Digitization of business is a necessary process in innovating business models. In this research, we observed the impact of the knowledge breadth on the process of digitalization of the business of social entrepreneurship entities. In order to measure the knowledge breadth, we used the plans according to which the education in the field of digitization is carried out, the number of certified and expert lecturers, the number of sources of knowledge, patents and creativity. The main goal of the research is to determine whether the knowledge breadth can contribute to accelerating the process of digitization of social entrepreneurship and thereby contribute to its development. 97 social entrepreneurship entities from Bosnia and Herzegovina (B&H) participated in the research. Data were collected using questionnaires and analyzed using correlation and regression methods. We investigated the importance of the knowledge breadth in the process of digitization of social entrepreneurship. According to the results of the research, the knowledge breadth significantly affects the application of digitization in social entrepreneurship entities.
{"title":"THE IMPORTANCE OF KNOWLEDGE BREADTH IN THE DIGITALIZATION PROCESS OF SOCIAL ENTREPRENEURSHIP","authors":"Irena Đalić, Ž. Erceg, Nataša Đalić","doi":"10.22190/fueo230505006d","DOIUrl":"https://doi.org/10.22190/fueo230505006d","url":null,"abstract":"One of the ways to solve economic and social problems is social entrepreneurship. In today's turbulent environment, the question of survival is posed to all economic entities, including those who operate as entities of social entrepreneurship. Digitization of business is a necessary process in innovating business models. In this research, we observed the impact of the knowledge breadth on the process of digitalization of the business of social entrepreneurship entities. In order to measure the knowledge breadth, we used the plans according to which the education in the field of digitization is carried out, the number of certified and expert lecturers, the number of sources of knowledge, patents and creativity. The main goal of the research is to determine whether the knowledge breadth can contribute to accelerating the process of digitization of social entrepreneurship and thereby contribute to its development. 97 social entrepreneurship entities from Bosnia and Herzegovina (B&H) participated in the research. Data were collected using questionnaires and analyzed using correlation and regression methods. We investigated the importance of the knowledge breadth in the process of digitization of social entrepreneurship. According to the results of the research, the knowledge breadth significantly affects the application of digitization in social entrepreneurship entities.","PeriodicalId":508950,"journal":{"name":"Facta Universitatis, Series: Economics and Organization","volume":"1 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-11-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139279277","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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