Do digital words reflect real innovation? Evidence from post-M&A earnings conference

Companies today are increasingly recognizing the importance of adopting business and innovation strategies to stay competitive in an ever-changing marketplace. This study aims to examine the relationship between business strategy, market orientation, innovation capabilities, company performance, and competitive advantage in the context of PT ABC, a construction and public procurement company established in 2018. The research method used is quantitative, with preliminary stages, observation, filling out questionnaires, data collection, data processing, and validity tests. Data is obtained through surveys and analyzed to examine the effect of these variables on the company's competitive advantage. The results showed that business strategy has a positive effect on the company's innovation capabilities and performance. Market orientation also has a positive effect on company performance. However, market orientation does not have a significant effect on innovation capabilities, and innovation capabilities have no effect on competitive advantage. These findings provide important insights for PT ABC and other companies in developing business strategies, strengthening market orientation, and enhancing innovation capabilities to achieve competitive advantage in competitive markets.

Coffee is one of the leading products in the plantation sector in South Sulawesi Province, apart from cocoa and passion fruit. A number of previous studies have found that the sustainability of the coffee processing industry is largely determined by the supply chain system, innovation capabilities and business competitiveness. This study aims to identify and analyse a number of indicators that form the variables of supply chain integration, innovation capability and business competitiveness. Apart from that, to explain and analyse the indicators that provide the greatest contribution in forming these three variables. This study took data through a survey of 106 respondents who were owners/managers of the coffee processing industry. Data were analysed using both descriptive statistical analysis and conformational factor analysis. The results of this study show that an effective supply chain system will be achieved through integration with suppliers. Product innovation is an important element in forming a company's innovation capability. Then this study also confirms the importance of product quality as an important element in shaping the competitiveness of the coffee processing industry in South Sulawesi.

. Interorganizational relationships (IOR) arising from interaction created by a firm can become a strategy for business development. Proper IOR management can provide benefits in improving firm's innovation performance. Innovation performance which is also associated with innovation outcomes is strongly influenced by firm's innovation capabilities. This paper discusses the influence of IOR towards innovation capabilities which is seen by analyzing the processes that occur in generating innovation outcomes. Through eight case studies in automotive components firms in Indonesia, it appears that the IOR can enhance company's innovation capabilities, especially for conducting technological innovation. The resulting innovations may be regarded as open innovation with the role of external parties in the process of innovation in the company. By IOR, a company may acquire or increase innovation enablers required to generate innovation outcomes. IOR can also shape and strengthen the basic foundation to build an innovative company. It is also found that innovation may become a media to form social control in IOR.

The stock price serves as a crucial benchmark for assessing a company's operational quality and prospects. The higher a company's stock price, the better its prospects. Conversely, if a company's stock price is low, it may indicate less promising priorities and prospects. Return on stock is a critical parameter that reflects the difference between the stock's book value and market price. This value indicates the extent of profit a company gains from stock sales transactions. Return on stock is one of the key indicators in evaluating a company's performance and attracting investor interest. This research employs a reliable quantitative method to analyze complex phenomena and produce robust and dependable findings. The selected population consists of four banking companies listed on the Indonesia Stock Exchange during the period from 2017 to 2022, providing broad and relevant data coverage to depict long-term trends. The applied data analysis technique is multiple linear regression analysis, enabling researchers to identify and measure cause-and-effect relationships between relevant variables. The research yields intriguing results, demonstrating that Loan to Deposit Ratio, Return on Asset, and Debt to Equity Ratio have a negative and significant impact on Stock Price. In contrast, Stock Price itself shows a positive and significant influence on stock return. The conclusion of this study offers valuable insights to market participants, investors, and stakeholders associated with the examined banking companies. The analysis outcomes can be used as a foundation for making intelligent and strategic investment decisions, as well as providing profound understanding of the factors influencing a company's stock performance in the capital market. Keywords: Stock Price, Loan to Deposit Ratio, Return on Asset, Debt to Equity Ratio, Stock Return.

This study aims to analyze the performance of the Tofu Super Afifah Palu Company based on the Financial Aspects and Innovation Capability. This study uses primary and secondary data, with data collection techniques through observation, interviews and documentation. The results of this study indicate that the Company's financial liquidity ratio can be ascertained to be very liquid and is included in the very healthy criteria (94.4% in 2018 and 172.22% in 2019 for the current ratio while for the quick ratio it is 66.40% in 2018 and 127.78% in 2019). Furthermore, the results of the solvency ratio analysis also increased from 2018 to 2019. Both in terms of the Debt to Asset Ratio and the Debt Equity Ratio. However, despite experiencing an increase in the Debt Equity Ratio, the company must pay attention and maximize it again so that in the future it can get an assessment or be included in the healthy criteria. Meanwhile, the company's profitability ratios get very healthy criteria, it can be seen from the results of the ratio calculations which show positive performance from year to year. Meanwhile, the results of the analysis of the aspects of the company's innovation capability were carried out quite well, especially the factors of technology use, interaction with outsiders, new product development and production and operation capabilities that impact on company performance. However, the company is expected to maximize the performance of human resources, marketing capabilities, as well as aspects of research and development

This paper studies the cooperation on innovation, its antecedents, and performance implications in Russian innovative firms. The model is developed to analyse the influence of firms' strategic orientations, market and technology turbulence, and environmental considerations on cooperative innovation, and its consequent impact on companies' financial and innovation outcomes. We look for patterns in the behaviour of Russian firms that would describe their attitude to the firm's openness in interaction with external partners, and its relation to the strategic orientations of the firm. The study is empirically based on a sample of 182 Russian firms operating in the most innovative regions of the country. The constructed PLS structural equation model showed both internal reliability and convergent validity. The research finds that the extent to which companies cooperate on innovation is determined by market expansion, as well as a willingness to improve production processes. Technology turbulence significantly facilitates cooperation, while market turbulence impedes it. As a result, cooperation in innovation significantly increases a company's innovation capability, at the same time improving its financial performance and assists to achieve cost saving.

Innovation for hardware development needs specific constituents like ideas, capital, knowledge, production means, market feedback, organization and brand in order to evolve und succeed. However, companies have limited resources resulting in missing innovation constituents impeding singlehanded innovation and restricting the company's innovation capability. In order to overcome limited resources with minimal effort as well as obtain new point of views additionally, companies need to participate in an innovation stimulating environment to get access to needed innovation constituents by collaborating with others. In such an innovation ecosystem diverse actors and infrastructures fulfill specific roles and contribute all necessary innovation constituents enabling a network-based innovation by collaboration. However, the contributing companies are economically independent of each other and also act opportunistic making a win-win situation for the innovation participants necessary. The objective of this paper is to illustrate why joint innovation in a network is essential for a company's innovation capability and what deficits in literature exist in designing such innovation ecosystems. Based on that analysis, a design framework of an ecosystem for network-based innovation focusing on hardware development is introduced.

Stock market is the mirror of the economy of any country. The strength of the economy reflects in the stock market numeric value. After crisis and fall down in different times over years, Bangladesh Stock Market is going to settle in a slow speed. Investors are hoping a strong stock market and management beyond political influential and invincible hands. There may exist hundreds or thousands of causes and events to bring effect on stock price in the capital market of Bangladesh. The study has selected 17 variables which appear to be effective for the movement of stock price in Bangladesh capital market. From the 17 variables through SPSS dimension reduction (or factor analysis) the study got 5 core factors which affect the stock price. The obtained factors are: Industry Performance, Market Influences, Company Performances, Investor Decisions, and Financial Considerations. Also to see the effect of selected variable on stock price movement, one variable – EPS is tested with stock price to see the effect. The result came that EPS is highly correlated to stock price movement in the capital market. As we have got different factors can affect the stock price movement. But investor should protect himself from the bad result of these factors. For this, before and after analysis in stock market business, the investors should consider about three main things which are acknowledged fully with company information & performance, risk management and continuous monitoring of stock performance.

Companies must restructure the resources and capabilities to enhance performance. In a swiftly evolving competitive business environment, these resources and capabilities need to be effectively organized, integrated, and utilized. Consequently, companies should develop an entrepreneurial orientation as a strategy to guide entrepreneurial decisions and activities, focusing on how to leverage resources to convert innovation capabilities into performance. This research investigated the impact of entrepreneurial orientation on innovation capability and firm performance. This study focused on SMEs in Bali, Indonesia, with a sample size of 396. Data were gathered from managers of these SMEs, who served as the research respondents. An online questionnaire was administered through Google Forms and sent via email, resulting in 168 valid responses. Data analysis was performed using SEM PLS, with WarpsPLS 7.0 software. The results indicated a significant impact of entrepreneurial orientation on innovation capability and firm performance. Additionally, innovation capability positively and significantly influenced firm performance. The study also revealed that innovation capability mediates the relationship between entrepreneurial orientation and firm performance. When discussing innovation capabilities, refer to the routine actions involved in configuring capabilities and resources. Enhancing performance requires more than merely altering these capabilities and resources. Entrepreneurial orientation must play a crucial role in intensifying a company's innovation capabilities, which are essential for transforming into firm performance

The capital market is a meeting place for two interests, namely those who need funds (companies) and those who have excess funds (investors). One of the capital market instruments, namely stocks, companies can get funds from investors by selling shares and investors can buy company shares to get profits in the future. The stock price of a company can be influenced by various factors including financial performance. Whether or not the company's financial performance can affect the rise or fall of the company's stock price. The better the company's performance, the better the opportunity to get a stock price increase in the future. This study aims to analyze the effect of Earning Per Share, Price Earning Ratio and Price Book Value on Stock Prices. The type of data used is secondary data and is a quantitative research. Sources of data obtained from the company's financial statements published on the company's website and the idx website. The population used is food and beverages sub-sector companies listed on the Indonesia Stock Exchange in 2016 - 2020. The sample used is 7 companies using purposive sampling. The analytical method used is multiple regression analysis using the SPSS version 22 program. The results showed that partially Earning Per Share, Price Earning Ratio and Price Book Value had a significant effect on stock prices. Simultaneously Earning Per Share, Price Earning Ratio and Price Book Value have a significant effect on stock prices
 
 Keywords: Earning Per Share, Price Earning Ratio, Price Book Value, and Stock Price.

Corporate mergers and acquisitions are beneficial for enhancing competitiveness, promoting industrial upgrading, and expanding market share. Since the 18th National Congress of the Communist Party of China, the country has attached great importance to innovation and focused on promoting innovation, placing it at the core of strategic deployment. It can be seen that enhancing innovation capability is particularly important for enterprises. Based on this background, analyzing the relationship between corporate innovation capability and merger and acquisition performance has important academic research significance. This article selects the corporate mergers and acquisitions events of listed companies from 2015 to 2019 as the research object, and empirically tests the impact of corporate innovation capability on corporate merger and acquisition performance through regression analysis. The empirical results show that: (1) the innovation capability of enterprises has a positive promoting effect on the performance of corporate mergers and acquisitions; (2) Both manufacturing and non manufacturing enterprises show a significant positive correlation between their innovation capabilities and M&A performance; (3) There is a significant positive correlation between the innovation capability of enterprises that do not involve major asset restructuring and their M&A performance; (4) Geographical regions can affect the relationship between a company's innovation capability and its merger and acquisition performance.

Innovation Capability is incredibly important for companies to survive and gain competitive advantages. Some researchers examined the influence of corporate culture on Innovation Capability and revealed that the culture of the adhocracy had a positive effect on the company's Innovation Capability (Ahmad, 1998; Barlow 1999). Besides, the ability of innovation was also influenced by how strong employee engagement in the company is (Gichohi, 2014). To see the influence of adhocracy organization culture and employee engagement towards innovation capability in Indonesia, research was conducted with State-Owned Enterprises (SOE) employees as the subjects, as their role in shifting the Indonesian economic sector. The research questionnaires were distributed to 300 SOE’s employees in some sectors with a rate of return of 69.3% or 208. Of the total questionnaires entered, 178 questionnaires were completed and could be processed. With 5% degree of accuracy and 95% significance level, the results of data processing showed that employee engagement has a positive effect on Innovation Capability proved to be significant with t count 6.942 at α = 0.001 while the research hypothesis of adhocracy culture had a positive effect on Innovation Capability was shown to be significant with t count 2.144 and α = 0.032.

The research examines the mediating role of dynamic capabilities in the effect of human capital on innovation capability. The research was conducted with white-collar employees in a logistics company based in Istanbul. A simple random sampling technique was used to determine the sample. The research sample is 238 employees working in the same company for at least three years. Mediation models were used to analyse the data. The data analysis determined that employee capital significantly increases the company's dynamic and innovation capabilities. In addition, the company's dynamic capabilities mediate in forming the innovation capability of employee capital. The hypotheses created within the scope of the research were supported. Human capital companies' dynamic capabilities effectively form the company's dynamic capabilities and subsequently obtain innovation capabilities. The research contributes to the literature by associating employee capital, innovation capability, and dynamic capabilities in the logistics sector.

The paper clarifies the category of innovation potential with innovative and economic activities. The innovation potential is the ability of a system to derive from the research field innovations suitable for the practice. It is determined by the accumulated intellectual products, database, research infrastructure and other resources used to create, implement and offer innovations. The use of company and national innovation potential for the creation of modern technique, technology and organization of production are orienting production and farms to the specifics of the new economy. The innovation activity reports the dynamics and capabilities of the innovation system to power production with ready-to-use innovations. Business activity in the field of innovation characterizes the capabilities and flexibility of the production system with the resources available to perceive and assimilate innovations and offer them as products in the form of goods, services and technologies.The report justifies the selection of an innovation strategy based on an analysis of the company's innovation capabilities. They represent a set of distinct features of the company that facilitate and support its innovation activity. The purpose of such an analysis is to determine which are these key characteristics and to what extent the firm as a whole and its core business units possess them. The report also explores the basic criteria for assessing the company's innovation capability, the structure of the innovation process and the methodology of analysis of its product and process innovations.

Purpose: The research objective of the article is to develop a model that indicates significant, from the perspective of introducing technological innovations by Polish small and medium-sized enterprises, internal factors that make up the company's innovation capability and build their competitive position. Design/methodology/approach: The company’s innovation capability can be divided on seven specific sub-capabilities, research and development, manufacturing, organizational, marketing, logistics, human factor and strategy. We also included some contextual factors in the model. Empirical studies were conducted in 2015, using the CAPI method, on the representative sample of 250 small and medium-sized enterprises. The analysis and assessment we based on the results of the ordered logit regression model estimation. Findings: The obtained results indicate the significance of 19 variables from all specific capabilities and contextual factors. Their impact proved to be both positive and negative. Practical Implications: The identified elements of innovation capability of small and medium-sized enterprises may be a recommendation for small and medium-sized enterprises’ managers. Originality/value: Determination of key elements of technological innovation capability of Polish small and medium-sized enterprises. The results can be compared with those obtained for other countries.