Economic Performance Of Enterprises Research Articles

Enterprise service-oriented transformation and sustainable development driven by digital technology

The deep integration of digital technology and the real economy not only affects the production and operation mode of enterprises, but also becomes the promoter of service-oriented transformation and the driving force of sustainable development. Based on the text analysis method, this paper uses the data of Chinese listed manufacturing enterprises from 2011 to 2020 to study the impact of digital technology application on the service-oriented transformation and sustainable development of enterprises. It is found that digital technology application significantly improves the environmental performance and economic performance of enterprises by driving their service-oriented transformation and technological innovation, and then enhances their sustainable development. The improvement effect of digital technology application on the sustainable development of resource-based enterprises and capital-intensive enterprises is more significant. The conclusion in this paper provides micro-evidence for understanding the role of digital technology in addressing environmental issues and sustainable development.

ЕКОНОМІЧНА ЕФЕКТИВНІСТЬ ВИКОРИСТАННЯ ОРГАНІЧНИХ ДОБРИВ З ПОСТІЙНО ВІДНОВЛЮВАЛЬНИХ ДЖЕРЕЛ ПОБІЧНОЇ ПРОДУКЦІЇ ТВАРИННОГО ПОХОДЖЕННЯ

This article is related to the study of the economic efficiency of using organic fertilizers from constantly renewable resources of animal by-products (chicken manure), taking into account the latest innovative technologies that reduce the cost of agricultural production while improving the results of economic activity of enterprises. It is proved that the utilization of animal by-products (chicken manure) through the production of organic fertilizers is one of the most valuable sources of nutrients. The ecological and economic benefits and prospects of using organic fertilizers, the main raw material component of which is chicken manure have been analyzed. The effectiveness of the usage of such organic fertilizers in intensive technologies of growing corn, sunflower and sugar beet has been tested and confirmed by scientifically based experimental studies. It is summarized that the production of organic fertilizers from chicken manure is a promisingly expedient, cost-effective resource for meeting the needs of the agricultural industry of our country in terms of nutrients. During the period of martial law, the most important current economic problem of our country is to overcome the decline in production by finding effective and optimal solutions for the reproduction of all its links. Today's dynamically changing conditions of the agricultural market require a mobilizing combination of efforts by the legislative and executive branches of government together with business owners to find and implement anti-crisis measures to ensure stable cooperation, improve the financial and economic performance of enterprises, and preserve and enhance soil fertility in the process of exploitation. Conservation, rational use of soils, and improvement of their fertility are a steadfast component of the sustainable constant of Ukraine's food, economic, social, environmental, and energy security. Being a key component of the sustainability of Ukraine's economy, including agriculture, organic fertilizers significantly contribute to increasing crop yields and improving their biological quality. An additional advantage is that they improve the agrochemical, biological, physical and mechanical characteristics of soils, positively affect soil fertility, and are much more costeffective for farmers.

The impact of economic performance on the environmental protection orientation of mining enterprises: A case study of the Yangtze River Economic Belt in China

Environmental protection and sustainable economic development are significant issues that impact people's lives and contribute to the construction of a beautiful China. The approach to corporate sustainability depends on the environmental protection orientation adopted by the enterprise. This paper takes a dual perspective of pollution-oriented and ecology-oriented environmental protection. It uses panel data from mining companies in the Yangtze River Economic Belt (YREB) from 2013 to 2020 at the micro level to examine whether the economic performance growth of enterprises contributes to achieving corporate sustainability goals. The study results indicate an inverted U-shaped curve relationship between enterprise economic performance and pollution-oriented environmental protection (POLEVP), with an initial increase followed by a subsequent decrease. On the other hand, there is a U-shaped curve relationship between enterprise economic performance and ecology-oriented environmental protection (ECOEVP), with an initial decrease followed by a subsequent increase. Mechanism analysis reveals that the structure effect, scale effect, and technology effect have different regulatory effects on the relationship between economic performance and enterprise environmental protection orientation. Further research demonstrates that companies in heavy-polluting industries and those audited by the Big Four accounting firms tend to prioritize POLEVP In contrast, state-owned enterprises show a stronger emphasis on ECOEVP compared to non-state-owned enterprises. These findings can provide valuable insights for decision-makers in promoting the sustainable development of the YREB at the micro-enterprise level and facilitating the green, low-carbon transformation of mining companies.

Study of the Impact of Entrepreneurial Risk Taking on Digital Transformation of Enterprises

Entrepreneurial adventurous spirit, as one of the core driving forces of enterprise economic development, has an important impact on enterprise innovation decisions as well as transformation and upgrading. On the one hand, entrepreneurs' personal traits have an important impact on the strategic choices and economic performance of enterprises; on the other hand, the digital transformation of enterprises requires executives' innovative will and adventurous spirit. Through preliminary analysis as well as empirical tests, this study concludes that there is a positive influence relationship between entrepreneurial risk-taking spirit and enterprise digital transformation. Therefore, this study investigates the positive influence relationship between entrepreneurial risk-taking spirit and enterprise digital transformation through the method of normative research, in order to provide a basis for internal and external economic decision-making of enterprises.

Features of modelling the components of the financial and economic stimulation system of the advanced technologies’ introduction of smart industrial development

The introduction of advanced technologies by the Industry 4.0 phase at national enterprises is in the initial stages and requires economic support from the state. The system of financial and economic stimulation for the introduction of advanced technologies for smart-industrial development should combine monetary (monetary and credit) and fiscal (tax and budget) incentives. To ensure the validity and optimality of the choice of the list of such measures, it is relevant to build scenarios for the development of national industry using economic and mathematical modelling tools that allow assessing the impact of the identified incentives on the overall economic growth indicators. An analysis of the models by areas of incentives aimed at studying the impact of incentives on the economic performance of enterprises, industry or the overall economy of the States is carried out. The advantages and disadvantages of the DCF, VAR and GARCH models are outlined, which, along with the methods for assessing the effectiveness of individual incentives CBA, ROI, NPV, etc., may require modification to consider individual incentives, the introduction of additional factors and the accumulation of variables to assess the overall impact on the economy. Therefore, they are labour-intensive for solving the outlined problems, but can be used for intermediate calculations for certain incentive areas. For modelling the components of the financial and economic stimulation system at the national level, the most appropriate models are general economic models (Cobb-Douglas model, Solow model, AD-AS model, Samuelson-Hicks model, etc.). The modified Cobb-Douglas model, taking into account the digitalisation factor, reflects the dependence of production on the introduction of advanced smart technologies, has a number of advantages over other models and is technically convenient for long-term calculations, which is required for national industry development scenarios to assess the impact of the introduction of financial and economic stimulation for industrial development. Promising areas of research are outlined.

Promote or Crowd Out? The Impact of Environmental Information Disclosure Methods on Enterprise Value

Environmental information disclosure is a concrete practice for enterprises to actively implement the concept of green and sustainable development, which has great significance for enterprises to gain long-term competitive advantages. The academic world has widely discussed the relationship between environmental information disclosure and the economic performance of enterprises, but how the heterogeneity of environmental information disclosure methods affects the enterprise value has not been explored. This paper aims to answer two questions: (1) what is the impact of Ecomark and ESG on enterprise value? and (2) how does the interaction between Ecomark and ESG influence enterprise value? Utilizing the listed Japanese electrical equipment manufacturing enterprises dataset from 2008 to 2021, we employed the fixed panel linear regression model to confirm the relationship between Ecomark and ESG in enterprise value, and further used a moderating effect model to verify the existence of the crowd-out effect of ESG performance on Ecomark through enterprise value. In addition, a robustness check scheme was designed and performed to test the model settings, outliers and endogeneity issues. The main findings show that the obtaining of Ecomark certification and good ESG performance can help to improve enterprise value, but they may be altered regarding the heterogeneity of environmental information disclosure methods, further causing differences in enterprises’ time and economic cost burdens. Such differences increase the attractiveness of ESGs to investors, thereby crowding out the impact of Ecomark on enterprise value. Our conclusion reveals the mechanism of the heterogeneity of environmental information disclosure methods towards enterprise value, which offers a valuable reference for investors to evaluate enterprise value and paves the way for enterprise decision-makers and authorities to optimize their environmental information disclosure.

Determinants of social enterprise performance: The role of passion, competence, and organizational legitimacy

AbstractSocial enterprises have been widely recognized as tools to solve societal problems. As the soul of social enterprises, social entrepreneurs help social enterprises overcome resource constraints and achieve survival and development. However, existing studies have focused limited attention on the effects of social entrepreneur characteristics on social enterprise performance. Drawing on the institutional logics perspective, this paper constructs a theoretical model of social entrepreneurial passion and entrepreneurial competence affecting social enterprise performance through organizational legitimacy and examines the moderating effect of regulatory uncertainty. Data were collected from 198 social enterprises in China. The results indicate that organizational legitimacy mediates the relationships between social entrepreneurial passion, entrepreneurial competence, and social enterprise performance. Regulatory uncertainty positively moderates the relationship between organizational legitimacy and social enterprise economic performance. The findings of this study contribute to research on social enterprise performance and organizational legitimacy. This paper also offers practical suggestions that social entrepreneurs should exert their passion and competence, obtain organizational legitimacy, and analyze the institutional environments to promote the development of the enterprise.

Управління фінансово-економічними результатами підприємств ІТ-сектора

The article substantiates the general scientific basis for managing the financial and economic results of IT sector enterprises as a system of objective economic laws that determine the characteristics of the enterprises’ activities, taking into account the state and trends of the market, competition, macroeconomic development of the country, etc. Considerable attention is paid to determining the interrelationships between the management of financial and economic results and resource provision of IT enterprises. The author analyzes scientific publications and concludes that the study of financial and economic performance of enterprises in the IT sector is associated with the characteristics of the State regulation of the economy and the industry, countering risks and threats, ensuring economic security and competitiveness. It is emphasized that there are immense number of approaches to managing financial and economic results, and on this basis, those according to which it is possible to reliably substantiate the peculiarities of the activities of IT sector enterprises are allocated - i. e., system, process, situational, economic, ideological approaches. It is concluded that a properly chosen approach to management is the primary result of the activities of enterprises in the IT sector and at the same time an effective tool for ensuring and increasing the expected level of financial and economic performance. It is proved that the management of financial and economic results is not a separate process, but it forms an active part of the overall management system of an IT enterprise. The instrumentarium for managing the financial and economic results of enterprises in the IT sector is defined, taking into account the directions of their formation and use. Proceeding from the fact that the management of financial and economic results of IT sector enterprises allows to form the necessary resources to solve the problems of tactical and strategic development, the basic requirements for its formation and further improvement are allocated.

СТАБІЛІЗАЦІЯ ЕКОНОМІКИ КРАЇНИ В УМОВАХ КРИЗИ

Ukraine is currently facing difficult economic conditions caused by Russia's military expansion. At the same time, despite the negative consequences caused by the Russian aggression, the country's economy is showing positive dynamics towards structural changes. In such circumstances, it is important to analyse the methodology for stabilising the country's economy and to find effective forms of attracting international financial assistance, which is a significant factor of supporting the country in times of crisis. The article examines the issues of stabilisation of the country's economy in the context of the crisis. The article analyses forms and methods of stabilisation of the country's economy in crisis conditions. An empirical study of financial measures at the macro and micro levels that had a positive effect on the recovery of the economic situation in the country has been carried out. It is established that under the conditions of martial law, the country's economy has begun to gradually recover since the beginning of 2023. Despite the low production volumes, the overall financial performance is tending to improve. The expected growth in economic forecasts is explained by the fact that Ukraine's energy sector has withstood the air attacks of the aggressor country. Due to this, the economic performance of enterprises, primarily in the retail and service sectors, has improved. The improvement of households' expectations and the growth of state budget expenditures, thanks to international assistance, will support consumer demand. However, the destruction of production facilities and infrastructure, including energy infrastructure, will continue to limit economic activity, and its recovery will require significant resources. It is specified that inflation is decreasing faster than expected, which is facilitated by an adequate supply of food and fuel, a lower electricity shortage, and a favourable situation on the foreign exchange market. An analysis of the activity of other countries in providing assistance to Ukraine made it possible to note that international aid covers the balance of payments gap and helps to build up financial reserves. It has been found that, in general, the National Bank of Ukraine forms positive theses on improving the economic situation in the country for future periods. In conclusion, the main source of financing of the country's budget is international aid and a minor percentage of its own GDP. Due to the stable inflow of international aid, the economy's liquidity has improved. The created liquidity buffer creates the conditions for increasing internal expenditures and paying expenses and fulfilling external obligations in a timely manner.

Green credit and enterprise environmental and economic performance: The mediating role of eco-innovation

In recent years, green credit has become a major policy for banking institutions to financially support the green development of enterprises. However, there has been no consensus on whether and how green credit can effectively improve enterprise performance. This study investigates the dual impact of green credit on enterprise environmental and economic performance with a conceptual framework that incorporates eco-innovation (i.e., innovation related to eco-process, eco-product, and eco-organization) as a mediator. Using the structural equation model and data from China's 376 textile manufacturing firms, this study reveals that green credit directly improved enterprise economic performance but had no significant direct effect on environmental performance. Eco-innovation showed a complete and partial mediating effect in the indirect relationships between green credit and environmental performance, and economic performance, respectively. Such a mediated path can avoid excessive green investment, alleviate financial burden, and promote the green transformation of enterprises with high pollution and high energy consumption (HH), thus contributing to the sustainable development of green credit. This study offers a valuable framework to assist business managers, bankers, and policymakers in managing green credit, strengthening eco-innovation, and improving environmental and economic performance.

Green entrepreneurial orientation, boundary-spanning search and enterprise sustainable performance: The moderating role of environmental dynamism.

As an important strategic decision for enterprise sustainability, the green entrepreneurial orientation can facilitate boundary-spanning search for external knowledge and resources to achieve triadic sustainable economic, environmental, and social performance. Based on organizational search theory and dynamic capability theory, this study introduces environmental dynamism into the model of the relationship between green entrepreneurial orientation, boundary-spanning search and enterprise triadic sustainable performance. By analyzing the questionnaire data from 202 managers of manufacturing SMEs, the study explores the internal and external influences of green entrepreneurial orientation on the enterprise sustainable performance. The results show that: green entrepreneurial orientation has a positive impact on enterprise economic, environmental and social performance; boundary-spanning search plays a fully mediating role between green entrepreneurial orientation and enterprise economic, environmental and social performance; environmental dynamism, as a key external environmental factor, positively regulates the relationship between boundary-spanning search and enterprise economic performance and environmental performance, and negatively regulates the relationship between boundary-spanning search and social performance. This study clearly demonstrates how green entrepreneurial orientation in the environmental era can drive triadic sustainable performance improvement of enterprises. In addition, this study argues that boundary-spanning search is an important tool that enables manufacturing SMEs to achieve a triad of coordinated sustainable development of economic, environmental and social benefits in a dynamic environment.

Analysis of the Influencing Factors of Enterprise Environmental Ethics on Enterprise Economic Performance

In the information age, people’s awareness of living environmental protection has increased unprecedentedly, and the concept of green environmental protection in enterprise economic behavior has been paid more and more attention by the market and consumers. The integration of green ideas, the improvement of production technology, and the research and development of environmental protection products have become the development trend of enterprises, and environmental ethical responsibility has also become an inevitable problem for enterprises. This paper analyzes the impact of enterprises’ conscious commitment to environmental ethics on their economic benefits, identifies the key influencing factors with the help of scientific statistical methods, analyzes the action mechanism of influencing factors in performance on the basis of the effect model and communication model, and analyzes the correlation between environmental ethics and economic benefits. The experimental results show that the long-term dissemination of innovation and reputation factors in environmental ethics is conducive to the dissemination of green innovative technologies and products, obtaining the attention and recognition of more enterprises and stakeholders, broadening the scope of cooperation and sales, and obtaining the support of German consumers. Environmental ethics has a short-term direct effect on performance. When the direct effect is reduced, the intermediary effect of innovation and reputation factors can achieve a positive effect on performance by transmitting benefits.

Emission trading scheme, technological innovation, and competitiveness: Evidence from China's thermal power enterprises

As flagship climate policy instruments, emission trading schemes (ETSs) are spreading, accelerating and strengthening globally. This study aims to explore whether the Porter hypothesis is present in China's ETS. Using the most recent data from 351 thermal power enterprises, the proposed agent-based model (ABM) creates a virtual decision-making and trading mechanism to identify ETS policy effects on enterprise technological innovation and competitiveness. Numerous findings and managerial insights emerge from the results. First, the weak Porter hypothesis cannot be realized in the early stages of China's ETS. However, when carbon price rises to 50–60 yuan/ton, the ETS spurs significant technological innovation. More importantly, the ETS-induced innovation effect is not associated with penalties or subsidies but is driven by allowance allocation and carbon price. Second, enterprise economic performance exhibits an inverted U-shaped trend. Specifically, innovation offsets may enhance enterprises' initial economic performance, while further tightening the allowance may have the opposite effect on competitiveness. Third, enterprise heterogeneity results in polarization, and the group of enterprises that proactively embrace technological innovation earn a higher profit. This work disentangles the dynamic effects of the weak and strong Porter hypotheses and provides empirical references for optimizing ETS design.

A data analysis to determine the degree of impact of factors on the sustainable development of the mineral resources sector enterprises: The entropy method

Subject. This article deals with the issues of sustainable development of the mineral resources sector of the Russian Federation. Objectives. The article aims to select a method for assessing the impact of various factors on the economic performance of enterprises of the mineral resources sector. Methods. For the study, we used the mathematical analysis. Results. The article finds that the method of entropic weight makes it possible to objectively weigh the various factors affecting the effective feature. Conclusions. The method of entropic weight is optimal for assessing the economic efficiency of the development of mineral deposits.

The relationship between sustainable supply chain management and enterprise economic performance: does firm size matter?

PurposeBased on the extended resource-based view (ERBV), this paper aims to investigate the relationship between sustainable supply chain management (SSCM), dynamic capabilities (DCs) and enterprise economic performance (EEP). Both the direct effects of SSCM on economic performance and the mediation effect of DCs are investigated. This empirical study also examines the moderating role of firm size.Design/methodology/approachThis study applies hierarchical regression analyses to test our hypotheses, and then the mediation test was performed using the macro PROCESS. Data were collected from 178 Chinese manufacturing firms.FindingsThe findings show that SSCM practices significantly and positively influence both economic performance and DCs. The results indicate that DCs partially mediate the relationship between SSCM practices and EEP. Moreover, firm size has a moderating effect on external SSCM practices that influence EEP, but the moderating effect was not found to be significant for the effects of internal SSCM practices on economic performance and SSCM practices on DCs.Practical implicationsThis study reveals insights into the potential benefits for large enterprises and SMEs related to the utilization of SSCM practices in China and puts forward differentiated suggestions for SSCM practices in large enterprises and SMEs.Originality/valueDrawing on the ERBV, this study provides a deeper perspective on the relationship between SSCM and EEP by regarding DCs as a mediating variable and firm size as a moderating variable.

Development of Methodological Principles Improving Quality of Research Organization in Scientific and Production Enterprises

Comprehensive analysis of activities of a research and production enterprise was performed, and the most effective areas were identified. Techniques and methods of effective management decisions are provided, taking into account specifics of the scientific activity, as well as the method for simulating the process of creating innovations to quantify the state of ideas and forecast for the future. A mathematical model is proposed for predicting parameters characterizing the full life cycle of ideas implementation. Main characteristics of the model and their alteration at various stages of the idea life cycle are described. An approach to solving the problem of intellectualization in the scientific and production enterprise workflow is outlined, and within its framework a technique for automatic analysis of the text of documents and its meaningful indexing is proposed. System application in solving the problems of scientific research in the NPO "Lakokraspokrytie" from planning to implementation is demonstrated. Organization of operations using an intelligent scientific research management system and making the right strategic decisions makesit possible to increase the enterprise economic performance indicators

Trends of development of financial and economic activity of entrepreneurial structures during the period of quarantine restrictions

Purpose. To study the impact of quarantine restrictions on the financial and economic performance of business structures. Methodology. Both general and special methods of cognition were used in the study: system analysis, structural and functional method, comparison, synthesis, deduction, logical research, graphical way of presenting information. Findings. The study revealed the impact of quarantine restrictions due to COVID-19 on the financial and economic activities of business structures and studied trends in the industry. A financial and economic analysis of the activity of enterprises, leaders of the international market in the chosen field of research is carried out. The data in the forecasts for the following periods have been adjusted to take into account the following factors: recognition of assets in the form of rights of use, separation of lease obligations, transfer of lease costs from operating expenses and depreciation assets in the form of rights of use. This made it possible to study the further development of new tools and their impact on future financial and economic performance of enterprises in quarantine conditions. Originality. The analysis, estimation and forecast concerning financial and economic activity of business structures are given and the tendencies of development in the period of quarantine restrictions of COVID-19 are revealed. This analysis makes it possible to make a forecast for the following periods adjusted taking into account quarantine restrictions. Practical value. The results of the study presented in this work can be used by economists, scientists and practitioners to develop and launch investment projects for enterprise development programs.

INNOVATIVE THREAD METHOD THROUGH CYLINDRICAL HOLES

Innovative activity in the field of engineering and technology, based on the use of best practices, contributes to scientific and technological progress in production. The latest projects in the field of technology significantly increase the technical and economic performance of enterprises. Innovative technical solutions of production nature significantly improve the structure and quality of production. Given the level of the proposed technological changes in the manufacture of threads in through holes, these innovations cover the field of combinatorial and partial. Today mechanical engineering is characterized by mechanization and automation of technological processes, a wide range of products of various parts. Among the non-detachable and detachable joints of parts, the threaded connection is the most common. Simplicity, reliability, the ability to adjust the force with which the conjugate surfaces come into contact, the possibility of repeated cycles of disassembly and assembly, etc., make this type of connection the most commonly used in mechanisms and machines of modern engineering. With the simplicity of the contact pair of threaded joints, where one of them contains the outer and the other the inner screw surface, during their manufacture there are problems that significantly inhibit production. The subject of research of this article is the solution of difficulties of manufacturing of an internal cut in through openings of small diameter by means of a tap. According to various sources, up to 80% of marriage is due to breaking taps. Studies by a group of scientists has found that more than 75% of taps break when the reverse (reverse) stroke of the tap, when the torque reaches its maximum value. The reverse scheme of production of a screw profile of a cutting surface by means of the mechanized devices and their alternative analogs, and also machines of drilling group, is offered.

The Influence of Public Support for Innovations on the Economic Performance of Enterprises

The paper aims to assess how public support for innovation activities influences the economic performance of Czech companies. In the framework of the research, attention was paid to more than 600 Czech companies that received support to start their innovation activities. The analysis was performed on the case of the Innovation Program, which was co-financed by the European Regional Development Fund. The Innovation Program is the largest Czech program for innovation support and mainly supports the launching of technological innovations in practice. The detailed analysis included 214 defined enterprises, for which all necessary information was available. The research analyzed the turnover of companies before obtaining support and after the implementation of the project. The research results show how the grant affects different size categories of enterprises and how the effect of the aid varies across sectors of the national economy.
 This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License.

Entrepreneurial Orientation of Male and Female Entrepreneurs in Small Firms

Many research studies indicate differences in the activities of small enterprises run by female and male entrepreneurs. These differences also apply to shaping entrepreneurial orientation. The main aim of the paper is to identify the entrepreneurial orientation in dimensions of autonomy, innovation, risk-taking, different level of proactivity, and competitive aggressiveness in relation to the gender of the entrepreneurs. This paper presents the results of a survey conducted among 220 small enterprises in Poland. The research showed a similar level of entrepreneurial orientation in the observed dimensions and the positive correlation between entrepreneurial orientation and the economic performance of enterprises in both studied groups.