Value Creation Research Articles

Implementing circular economy principles: evidence from multiple cases

With an orientation on sustainability and economic growth, the concept of circular economy (CE) emerges to tackle socio-environmental challenges. Current literature has provided important frameworks from CE operations and business model perspectives. However, in practice, companies are still facing the challenges of insufficient knowledge, lack of standard procedure, and resource constraint. Thus, this paper aims to answer the research questions: how can companies effectively implement CE principles in their operations? And how can such implementation result in value creation such as new products or service solutions? Through conducting seven case studies mainly in Wales, UK, our paper identifies the key activities of CE implementation projects, proposes a holistic process model, and further addresses three different CE scenarios. Our study contributes to the understanding of CE process and circular business models with empirical evidence. Findings can provide future research direction as well as implication for business and policy makers.

Building material reuse: An optimization framework for sourcing new and reclaimed building materials

The process of sourcing Reclaimed Construction Materials (RCMs) is predominantly manual and hindered by the limited digital presence of RCMs. However, the advancing technological landscape provides an opportunity to create a modular framework that can assess the value proposition of New Construction Materials (NCMs) and RCMs for a project before acquiring them. A field study in the Kitchener/Waterloo region inspired the development of a framework that has three underlying systems encompassing digital tools for data collection and analysis: (1) The Real Environment uses 3D scanners and a spreadsheet software, (2) The Model Environment uses Building Information Modeling (BIM) software and a Life Cycle Assessment (LCA) tool, and (3) The Core Engine uses an optimization program. Real-world data collected from RCM stores (The Habitat for Humanity) and NCM stores (The Home Depot) are used for a realistic demonstration of the framework. By practically applying the framework to source window and door components for a modeled multi-residential building design, an integrated selection of 35% RCMs and 65% NCMs was proposed for the building design. Furthermore, sensitivity analysis is also performed for validation. The framework may disrupt the ongoing building design practices that deem material reuse problematic by enabling flexible sourcing of used and new building materials. A modular and iterative framework for facilitating reuse is thus contributed.

Financing mode decision of characteristic tourist town based on improved G1 and Z-number-TOPSIS: the Chinese case

PurposeThe objective is to address financing challenges with an innovative technical approach and provide financial support to facilitate the sustainable development of characteristic tourist towns.Design/methodology/approachIn this study, a novel decision model is proposed, which utilizes the CRITIC improved G1 weighting method to analyze financing factors and applies GRA to enhance the TOPSIS model under a Z-Number fuzzy environment. Finally, sensitivity analysis and comparative assessment were conducted to validate the findings and the model.FindingsThe findings indicate that equity financing is the optimal mode of financing for characteristic tourist towns, with bond financing serving as a viable alternative. Key factors influencing financing include economic benefit, social benefit and policy risk. Managers should carefully consider these factors when selecting financing methods in order to enhance efficiency and mitigate risks.Originality/valueAs a new business model and value creation method of cultural and tourism integration, the financing decision of a characteristic tourism town has always been the key to the overall promotion and operation. The research constructs a financing index system for characteristic tourism towns based on benefit and risk considerations, using the hot spring town in Anhui Province, China, as a case study to evaluate eight financing models.

Investigating the Narrative of Trinity: 9NFTMANIA, Premium Domain, COREDAOVIP

The trinity of 9NFTMANIA, Premium Domain, and CoreDAO VIP represents a unique, interconnected ecosystem within the blockchain and digital asset landscape. Each platform plays a specialized role—9NFTMANIA as a creator and marketplace for NFTs, Premium Domain as a promoter of digital assets and brands through premium domains, and CoreDAO VIP as a decentralized liquidity pool management system ensuring price stability for its native tokens. Together, they offer a comprehensive approach to innovation, community engagement, and value creation in the digital space.9NFTMANIA (9nftmania.com) is at the forefront of the NFT revolution, empowering artists, creators, and collectors by offering a platform to mint, showcase, and trade NFTs. It supports the metaverse by enabling the creation of unique digital assets, contributing to a growing marketplace of digital collectibles and interactive experiences.Premium Domain (premiumdomain.space) specializes in promoting and selling premium domain names, providing a crucial branding solution for businesses and individuals looking to establish a powerful online presence. With a focus on high-value digital real estate, Premium Domain amplifies the visibility and marketability of brands in a competitive digital environment.CoreDAO VIP (coredao.vip) focuses on maintaining price stability through its distributed liquidity pool management system. With a limited supply of 100,000 tokens, CoreDAO VIP attracts investors by offering scarcity-driven value while providing decentralized governance via its DAO. CoreDAO VIP tokens are listed on four decentralized exchanges (DEXs), providing liquidity and flexibility for token holders.Together, these platforms create a synergistic environment that fosters innovation, enhances digital ownership, and offers unique investment opportunities. The alliance combines the power of NFTs, premium branding, and DeFi liquidity management, making it an attractive proposition for creators, businesses, and investors seeking sustainable growth in the digital asset ecosystem.

Hybrid product branding strategies for brand value creation – combining and comparing green product innovations, limited editions and co-branding

Hybrid product branding strategies for brand value creation – combining and comparing green product innovations, limited editions and co-branding

Environmental Discourse and Firm Value: Evidence From Conference Calls

We examine environmental discourse in conference calls and the relation between this discourse and firm value. We measure the amount of environmental discourse as the frequency count of environmentally-related topics in the transcripts of conference calls. We argue that greater environmental discourse in conference calls indicates firms’ prioritization of environmental issues. Evidence indicates that greater amounts of environmental discourse are associated with lower share price and higher cost of capital, which we interpret as reflecting the relatively higher costs of environmentally responsible operations in excess of firm-specific benefits. Additional analysis examining general environmental, social, and governance (ESG), especially social and governance, discourse shows that it is associated with lower cost of capital and higher share price, suggesting that prioritization of social and governance issues does not imply higher operational costs and indeed may signal firm-specific value creation.

Dissolving boundaries: work, activity, and voluntariness in digitized capitalism

ABSTRACT The article focuses on voluntariness as a mode of restructuring work in 21st century digitalized capitalism. What can be observed is a blurring of the boundaries between work, reproduction, leisure and engagement. We pursue the thesis that this transformation in the ‘nature’ of work corresponds to a (newly emerging) ‘mixed-activity economy’ in which people, on the one hand, create economic value in the sphere of consumption or leisure. On the other hand, reproductive requirements and economic necessities in everyday work and life can be flexibly linked through time-flexible platform work. In any case, the forms of corporate value creation and access to human productivity are changing radically insofar as they are no longer limited to classic wage labor alone. The invocation of voluntarism plays a key legitimizing role in this transformation. Based on a theoretical reconstruction of the concept of voluntariness, we bring together new forms of value creation through appropriation of resources outside of wage labor and the systematic analysis of voluntariness as a currently significant mode of action and governance in the digital economy.

Dependence, power imbalance, and value gains in business process outsourcing

AbstractWe examine the impact of interdependencies in business process outsourcing (BPO) relationships on client and vendor firm values both in the short term and over a longer time horizon. Drawing from recent research incorporating the resource dependence theory, which appertains the interdependence to both mutual dependence and power imbalance in interfirm relationships, we posit the value proposition of BPO to be greater for mutually dependent engagements, and more so for the vendor than for the client. In addition, we posit the power imbalance in BPO relationships to be detrimental for clients and vendors, and thus, the value proposition of such BPO is expected to be lower for both. We empirically examine these issues through an event study of 285 publicly announced BPO engagements and find that mutually dependent BPO relationships, which were difficult to decouple, are value enhancing for both clients and vendors, and more so for vendors. In addition, although the power imbalances were expected to be detrimental to both, we find this power imbalance to negatively affect only the vendors but had a positive effect on clients.

HR-brand: features of formation and development

Relevance. The development of HR management stems from the need for organizations to attract and retain highly qualified employees in the competitive environment of the modern labor market. HR branding is a strategy based on the formation and support of a positive image of the company in the eyes of employees, as well as the company's commitment to the principles and values that bind employees and the organization. Positive evaluations of the organization's employees and their recommendations can attract new specialists and strengthen the company's reputation as a reliable and attractive employer.The purpose of the article is to study a special category of reputation and perception of the company – the HR brand.Objectives: to study the conditions for building an HR brand, its structure and key elements; to consider the history of the origin of the idea of HR branding; to assess the interest in creating a special reputation in the field of human resource management; to justify why it is impossible to build an EVP (employer's value proposition) without HR branding.Methodology. In the course of scientific research, empirical, theoretical, statistical methods and methods of graphical representation were used.Results: the theoretical aspects of building a company's HR brand were studied; the popularity of this topic in science and business was shown. A set of knowledge about the features of HR branding in the Russian and foreign markets has been formed and the prospects for the development of this area are shown. It shows why it is important to work on an HR brand and how to start forming a positive image of the company, its reputation and prestige.Conclusions. The article emphasizes the relevance and importance of the topic under consideration, taking into account the latest trends, prerequisites and prospects for new companies. The possibilities that open up for an employer when forming an original and popular HR brand are considered.

Exploring the Multi-Dimensional Effects of ESG on Corporate Valuation: Insights into Investor Expectations, Risk Mitigation, and Long-Term Value Creation

This paper investigates the multifaceted mechanisms through which Environmental, Social, and Governance (ESG) factors influence corporate value. ESG performance, reflecting a company's adherence to sustainable practices, has become increasingly significant in contemporary business strategy due to its potential impact on firm profitability and market perception. While ESG initiatives are known to enhance corporate transparency and stakeholder trust, contributing positively to a companys reputation and operational efficiencies, they also present financial challenges by potentially elevating operational costs and impacting short-term financial performance. Utilizing a comprehensive review of existing literature and theoretical frameworks such as stakeholder theory, agency theory, and signaling theory, this study delineates the balance firms must achieve between fostering long-term strategic advantages and managing immediate financial implications. By analyzing empirical evidence and case studies across diverse industries, the paper elucidates how robust ESG practices can attract better investment, improve risk management, and secure sustained economic benefits. This research contributes to academic discussions on ESGs role in corporate value creation and offers practical insights for companies aiming to integrate these practices into their core strategies effectively. The findings highlight the importance of strategic ESG implementation and the necessity for firms to align these initiatives with broader corporate objectives to optimize both societal impact and shareholder value.

ESG investing & firm performance: Retrospections of past & reflections of future

AbstractThe purpose of this research is to investigate the current state of the literature on environmental, social, and governance (ESG) investing, and study the impact of ESG ratings on firm performance. Corporate sustainability has evolved as a concept and is increasingly being integrated with investment analysis. The present study performs a systematic literature review (SLR) using the theory, context, characteristics, and methodology (TCCM) framework to provide valuable insights and research directions in the context of ESG investing. The review is based on 198 articles published from 2010 to 2022 and follows the scientific procedures and rationales for systematic literature reviews (SPAR‐4‐SLR) protocol using the Scopus database. Further, the research also re‐examines the empirical studies based on ESG as a determinant of firm performance using a meta‐analytical approach. The research findings suggest a positive impact of ESG ratings on firm performance. However, an intriguing discovery surfaced when empirical studies were segmented according to the ESG rating methodologies provided by Bloomberg and Thomson Reuters. The purpose of this research is to offer a comprehensive and collective scholarship of the subject by adopting a mixed‐method approach. Further, it provides a conceptual framework, thereby linking the various elements of ESG investing and explaining the channels of transmission of ESG translates into value creation for the shareholders. It encompasses extensive research agendas discussing barriers to ESG implementation, the materiality of ESG practices, informativeness of sustainability reporting, sustainability performance, and sustainable underpinnings.

Economic value added and working capital efficiency linkages: an Indian context

Purpose This paper aims to explore the relationship between the economic value added (EVA) and the working capital efficiency (WCE) of the listed firms in India. Design/methodology/approach This paper uses annual data of 401 listed companies for the period 2012–2019. Furthermore, the dynamic panel data regression model was used to investigate the relationship between the variables of interest. Findings The results reveal that the net trade cycle (NTC) is significantly and negatively associated with listed firms’ economic value in India, indicating that a shorter NTC generates higher EVA for Indian firms. The authors further explore the association between individual components of the NTC with EVA. The authors also found that an inverse, and significant relationship exists between EVA and the individual components of the NTC. The findings also reported a meaningful relationship between EVA and control variables except for leverage and age. For listed firms, the results suggest that sales growth and firm size are crucial factors driving firms’ EVA. Practical implications Higher WCE enhances shareholder value creation, forming positive stakeholders’ expectations toward the company. Originality/value Over the years, many studies have been conducted to determine the relationship between WCE and traditional measures of firms’ profitability. However, hardly any study finds out the impact of WCE on the value-based measures of firms’ performance. This study fills the gap in the existing literature by analyzing the impact of WCE on firms’ EVA.

Student Success as a Value Proposition in ARL Libraries’ Strategic Plans

While the importance of student success is widely recognized across universities, the path to achieving it remains amorphous. Academic libraries are working to define their role in student success by documenting their contributions, but they face challenges in communicating their value to the university. Through a content analysis of strategic plans, this study investigates how libraries and their corresponding universities prioritize student success, how libraries describe their contributions, and which campus units universities associate with student success. Findings reveal a tension between libraries’ ambitions to be a key player in student success and universities’ recognition of the library’s contributions.

Different paths to improving together: a taxonomy of buyer-supplier collaborations for sustainability in food supply networks

Purpose Extant research shows collaboration among supply chain (SC) partners can address the significant environmental impacts of industrial food systems, but can be risky and resource-intensive. Past studies have predominantly treated buyer–supplier sustainability collaborations as a single aggregate concept missing the theoretical richness. This study aims to provide a more nuanced understanding of these collaborations for jointly improving sustainable food supply networks. Design/methodology/approach A multiple case study was conducted covering 8 SCs in the Dutch food processing industry, using data from 27 interviewees and extensive secondary material. Findings By applying the dynamic relational view, this study identifies three types of buyer–supplier collaboration, reflecting three paths of sustainable value creation: (1) the bilateral path, featuring equal participation and extensive collaboration, yielding substantial environmental and economic benefits; (2) the buyer-driven path, where the buyer leads the collaboration to address sustainability issues that are raised by stakeholders, relying on supplier expertise to improve SC traceability and sustainability reputation, albeit at higher costs; (3) the supplier-driven path, where the supplier leads the collaboration for incremental environmental and economic improvements. Practical implications The taxonomy results provide practical guidelines to assist managers in selecting the most suitable collaboration type for their specific sustainability goals and more effectively address sustainability challenges. Originality/value The three identified types of collaboration form a novel taxonomy for improving sustainability in food supply networks, representing different paths for SC partners to achieve progressively more substantial sustainability improvements. This taxonomy challenges the perspective that adopting sustainability invariably leads to increased costs by providing evidence of simultaneous economic and environmental improvements.

The Impact of Dynamic Capabilities on Value Creation with Competitive Strategy as a Mediating Variable in Small and Medium Enterprises

Small and Medium Enterprises (SMEs) need adaptation to survive. In addition, SMEs also have to be competitive in order to face increasingly fierce competition. SMEs can survive if they can provide added value. Therefore, this study aims to analyze the impact of dynamic capabilities as the ability to be adaptive to value creation with competitive strategy as a mediating variable in Jakarta culinary SMEs. The research was conducted by distributing questionnaires online using purposive sampling to 138 respondents who are owners of Jakarta culinary SMEs. This study uses a quantitative approach, and data is obtained and processed using SEM PLS with SmartPLS 3.0. The results of this study showed that all dimensions of dynamic capabilities, sensing capability, learning capability, integrating capability, and coordinating capabilities have a positive and significant impact on value creation, either directly or mediated competitive strategy.

Sweet Bread Teaching Factory's Feasibility Projection at Banyuwangi State Polytechnic

This study aims to provide an overview of sweet bread production as an alternative in planning and developing teaching factories based on business feasibility projection analysis. A quantitative technique was applied in this research. Survey techniques and statistical tests were used to examine the hypotheses. To demonstrate that an institution can and should continue its sweet bread business, several variables were measured, including the Internal Rate of Return (IRR), Net Present Value (NPV), Return on Investment (ROI), Benefit–Cost Ratio (B/C ratio), Payback Period (PBP), and Break Event Point (BEP), providing further information for Business Model Canvas analysis of a business model. Based on the BMC, the value propositions are a variety of sweet bread, ease of access, affordable prices, quality, and taste. Key activities include sweetbread production, stock management, marketing and promotion, and customer service. Customer segmentation involves students, lecturers, staff, and institutional visitors. An analysis of financial projections reveals that business is feasible. This can be seen from IRR = 53,19%; the NPV > 0 is equal to IDR 85,222,327; ROI = 216.69%; B/C ratio =1.07; BCR > 1; PBP = 41 months; and BEP = IDR 5,528,669.25. Keywords: teaching factory, sweet bread production, business feasibility, financial projection

Unlocking the potential of digital innovations on BPM: a bibliometric and systematic literature review

PurposeThis study aims to perform a bibliometric and systematic literature review (SLR) to elucidate the current landscape and to propose a framework that defines and explores research strands to guide the formulation of business process management (BPM) strategies anchored in digital innovations.Design/methodology/approachA bibliometric analysis of 238 papers from the last 10 years (2014–2023) that were correlated to BPM strategies and digital innovations was conducted. Additionally, a SLR was performed on 15 selected papers, making it possible to propose a framework that explored research strands through the content analysis.FindingsA framework comprising eight research strands (value creation; ambidexterity; governance; agility in processes; strategic process management; external context and culture and integrated systems) was developed. It proposes a research agenda and provides valuable insights as a reference for formulating BPM organizational strategies anchored in digital innovations.Research limitations/implicationsThis study acknowledges the limitation of utilizing a single software for bibliometric analysis. The framework developed in this study has not yet been validated.Practical implicationsThis paper provides insights to assist managers in comprehending BPM strategies anchored in digital innovations and calls for organizations to prepare for future digital needs.Social implicationsThis paper contributes to advancing our understanding of BPM aligned with the demands of a digital age society.Originality/valueThe developed framework sheds light on the current landscape and research strands that explore the association between digital innovations and BPM strategies. This provides a valuable opportunity for future qualitative and quantitative studies to explore the eight research strands presented in the framework.

Lean applications across the healthcare ecosystem: Value creation, destruction and a research agenda

Lean applications across the healthcare ecosystem: Value creation, destruction and a research agenda

Towards green hospitality: exploring the consumer perceived value of pro-environmental star-graded accommodation

PurposeThis paper explores the effect of pro-environmental measures and green behaviour of star-graded accommodation establishments on the consumer perceived value that domestic tourists associate with them. From our study’s perspective, value creation via green hospitality may promote more responsible and environmentally friendly consumptive behaviour amongst domestic tourists.Design/methodology/approachDesigned as a cross-sectional deductive study, data were generated from an online panel sample of 440 South African domestic tourists. The hypotheses were tested using SmartPLS 4 via partial least squares–structural equation modelling. Further, multi-group analysis assessed and exposed gender-based differences.FindingsThe findings imply that green hospitality positively influences the value perceptions of tourists. More in-depth analyses indicate gender-based heterogeneity in the effect of green hospitality aspects on consumer perceived values. Our findings establish pro-environmentalism within the accommodation sector as an approach to initiating pro-environmental behaviour change through value creation.Originality/valueOur study extends the theory around pro-environmental behaviour and provides empirical evidence from domestic tourists as an under-researched population within the debate around tourism sustainability and green hospitality. The study sheds new light on the importance of supply-side green interventions in tourist behaviour and highlights the potential influence of gender differences. It explores this in the context of an emerging tourism destination in the Global South.

Integration of Agile Technologies in Internal Audit

The study is devoted to the processes of integration of Agile technologies in internal audits. It was determined that Agile is a method and a way of thinking simultaneously, which ensures timeliness of receiving information, quick response to risks, and acceleration of audit cycles, thanks to which the effect of value creation is achieved for both top management and stakeholders. The analysis of statistical studies of the implementation of Agile technologies allowed the authors to conclude that the Agile approach is increasingly used in enterprises to achieve planned results, and to single out key changes in the concepts of internal audit, which became possible thanks to the implementation of the Agile approach. It is noted that there is no single path for transitioning to the use of Agile methodology for all organisations. In addition, such a transition can cause difficulties associated with rethinking the audit process. That is why the authors attempted to unify the work cycles of the internal Agile audit.