Factor For Sustainable Growth Research Articles

Влияние кластеров на продолжительность жизненных циклов предпринимательских экосистем в регионах России

In the context of the global economy and growing competition within the country and on the international market, the development of entrepreneurial ecosystems is an important factor for sustainable economic growth. The author distinguishes between the concepts of “entrepreneurial ecosystem” and “cluster”. In a new view of entrepreneurial ecosystems as dynamic structures that go through the stages of birth, formation, development, maturity, stabilization, renewal or decline, according to the author’s methodology, special attention is paid to the mechanism of prolongation of growth stages due to the influence of clusters. The integration of life cycle theory and clusters provides a new perspective on entrepreneurial ecosystems through the lens of clusters. The novelty lies in the role of clusters as an effective approach that promotes interaction between business, government and science to accelerate innovation processes, create sustainable cooperation networks, attract investment and reduce barriers to entry of new entrants to the market. To substantiate the decision to select the largest entrepreneurial ecosystems, a comparative analysis was carried out for the Novosibirsk Region in the context of the regions of the Siberian Federal District, for the Republic of Tatarstan – in the context of the regions of the Volga Federal District. An analysis of the economic sectors of the studied regions revealed that entrepreneurial companies not only operate in the main ones, but also form related industries. It is revealed that the industry association leads to the creation of new industries of the sixth technological order and the production of competitive goods and services, which creates an additional need for investments for the development of innovation activities by entrepreneurial ecosystem companies. The use of the OTSW analysis tool (according to V. L. Quint’s method) is substantiated. This article will help determine the approach when making a management decision to increase the vital activity of the entrepreneurial ecosystem. The formation of clusters will improve the interaction between ecosystem participants, develop entrepreneurship and stimulate innovation in the country’s regions.

Conceptualizing agile business practices for enhancing SME resilience to economic shocks

This paper examines the role of agile business practices in fortifying small and medium-sized enterprises (SMEs) against economic shocks, emphasizing resilience as a critical factor for sustainable growth. Given SMEs' vulnerability to unpredictable economic shifts, the study explores how agility — defined by rapid adaptation, flexibility, and innovation — enables these enterprises to navigate and recover from disruptions effectively. Through a review of resilience-building frameworks, the paper identifies core agile practices, such as adaptive decision-making, lean management, and iterative product development, as pivotal to enhancing SMEs' operational and strategic resilience. Findings indicate that SMEs leveraging agile methodologies experience improved responsiveness to market changes, reduced operational risks, and greater capacity to maintain continuity during crises. Additionally, the study discusses the integration of digital tools, cross-functional teams, and customer-centric approaches as enablers of agility that strengthen resilience. Conclusions underscore the necessity for SMEs to adopt agile frameworks not only as a response mechanism but also as a proactive strategy for long-term stability and competitiveness in volatile markets. This research contributes to the growing discourse on SME resilience, offering actionable insights for stakeholders seeking to embed agility as a fundamental attribute in organizational practices.

Evaluating Energy Efficiency Parameters of Municipal Wastewater Treatment Plants in Terms of Management Strategies and Carbon Footprint Reduction: Insights from Three Polish Facilities

Water management in cities is a critical factor for sustainable growth and development. Satisfying the current needs with respect for the future is not possible without properly managed water and wastewater systems. An essential element of wastewater systems is the wastewater treatment plant (WWTP). The nexus between wastewater treatments and energy demand is a well-known problem. In times of energy crisis, effective energy management in this critical infrastructure is a key task. The purpose of this article is to analyze WWTPs’ energy consumption with regard to proposed management strategies for managers, designers and decision makers. A detailed analysis of WWTP operational parameters and a proposal of improvement actions will be useful for applicability and benchmarking studies. Estimating the carbon footprint (CF) of selected WWTPs considering the indirect emissions due to energy consumption is an important step for developing energy neutrality of WWTPs. Due to the desire to deepen research in the area of a complex phenomenon, which is the energy management system in WWTPs, the research undertaken herein is based on the case study method of three water and sewage companies operating southwestern Poland. Each urban area has different specificities, natural conditions and needs. The presented results of the analyses may be the basis for developing directions for changes in national policy, other benchmarking studies, and improving the energy management system in WWTPs.

Performance indicators of the red grouper (Epinephelus morio) fishery along the Yucatan coast, Southeast Mexico

This study assesses the Fishery Performance Indicators (FPI) of the red grouper fishery, currently overexploited, aiming to identify factors for sustainable management and economic growth. Evaluation spans commercial and recreational fishing activities and encompasses output indicators focusing on ecology, economy, and community, through 68 metrics, including measures related to stock abundance, ecosystem impacts (e.g., habitat degradation, bycatch rates), and social aspects (e.g., community participation in management). Input indicators assess enabling conditions such as diseases, water quality, air pollution, biodiversity, etc. Scoring involved reviewing fishery data and information from various sources including scientific literature, technical reports from workshops and meetings, journalistic notes, databases, and unpublished data; with each metric scored according to its specific system. The red grouper fishery exhibits strengths in harvest and community involvement but grapples with stock and ecological concerns. Medium-size fleet perform adequately, yet challenges arise from aging vessels and market fluctuations. Artisanal fleet encounter issues like illegal fishing and economic struggles, while recreational fishing faces stock and ecological worries. Persistent environmental and governance challenges underscore deficiencies in management practices and fishing markets. Enhancing the red grouper fishery requires fair pricing, effective stock management, and sustainability efforts in co-management, fisheries management, and post-harvest processes. Improving gear selectivity is crucial for effective stock management, involving minimizing catches of juvenile red grouper and incidental species. Insufficient bargaining power results in an unfair market and disadvantages for fishermen, leading to losses. To address these issues, it is essential to diversify market channels, stabilize prices, and advocate for fair pricing mechanisms. Empowering fishermen through collective bargaining and regulating credit agreements can ensure fairness. Additionally, policy interventions are necessary to support fishermen and foster a more equitable industry.

THE ROLE OF ENTREPRENEURSHİP İN ECONOMİC DEVELOPMENT AND PROBLEMS OF UNİVERSİTY YOUTH İN THE FİELD OF ENTREPRENEURSHİP

Economic development refers to the sustained, concerted actions of policymakers and communities aimed at improving the economic well-being and quality of life for a region's inhabitants. It encompasses various aspects such as increasing income levels, reducing poverty, creating job opportunities, and enhancing infrastructure and institutional capacity. Key components of economic development strategies often include fostering entrepreneurship and innovation, attracting investments, improving education and healthcare systems, and promoting sustainable development practices. Additionally, economic development efforts frequently focus on addressing inequalities and promoting inclusive growth to ensure that benefits are shared equitably across society. Successful economic development requires collaboration among government agencies, private sector entities, civil society organizations, and local communities. It involves setting clear goals, implementing targeted policies and programs, and continuously monitoring and evaluating progress. Moreover, economic development initiatives must be tailored to the specific needs and circumstances of each region, taking into account factors such as natural resources, demographic trends, and global economic dynamics. Entrepreneurship plays a critical role in economic development, driving innovation, job creation and sustainable growth. Entrepreneurs not only form new companies, but also develop and implement new ideas, technologies and management methods, which contribute to increased efficiency and competitiveness. Their activities help expand markets, stimulate competition and create favorable conditions for economic recovery. Entrepreneurship is also a key source of new jobs. The creation of enterprises leads to an increase in the need for labor, which in turn helps to reduce unemployment and increase the level of employment in society. Small and medium enterprises, often started by entrepreneurs, are particularly important in this context as they are catalysts for the growth and development of local economies. Moreover, entrepreneurship contributes to the distribution of wealth and social mobility. Self-employed entrepreneurs can act as drivers of social change by supporting community and charitable initiatives. Thus, they influence not only the economic landscape, but also social and cultural aspects, contributing to the diversity and development of society as a whole. However, despite the importance of entrepreneurship, young people, especially university students, face a number of challenges when trying to get involved in this field. One of the main problems is the lack of information and understanding of the processes of creating and running a business. University curricula do not always cover entrepreneurship sufficiently, which can create a barrier for students wanting to start their own business. Financial constraints also play a role in limiting entrepreneurial opportunities for university youth. Young entrepreneurs often find it difficult to obtain financing for their projects, as banks and investors may view them as high-risk clients. Additionally, students may lack the experience and professional skills necessary to successfully manage a business. Lack of practical experience and skills in marketing, human resources and finance can be a barrier in the path of young entrepreneurs. To solve these problems, it is necessary to make changes to university curricula, including teaching entrepreneurial skills, as well as creating special programs and support measures for students who want to engage in entrepreneurship. Networking with successful entrepreneurs, providing access to financial resources and creating infrastructure for start-ups can also help promote entrepreneurship among university youth. Overall, youth entrepreneurship development is an important factor for sustainable economic growth. Supporting and stimulating young entrepreneurs can lead to the emergence of innovative projects, new jobs and enrichment of society as a whole. Keywords: economic development, entrepreneurship, university, student entrepreneurship

Natural resources utilization efficiency evaluation, determinant of productivity change, and production technology heterogeneity across developed and developing G20 economies

Efficiently utilizing natural resources (NRs) and enhancing their productivity growth are crucial factors for sustainable economic growth in major global economies. Further production technologies heterogeneity among developed and developed G20 countries is vital to natural resource utilization efficiency (NRUE). To this end, the estimation of NRUE, natural resources total factor productivity, and technological gap ratio (TGR) is worth investigating. This study employed Data Envelopment Analysis (DEA) Super-SBM, Meta-frontier analysis, and the Malmquist productivity index to evaluate NRUE, TGR, and productivity changes among G20 countries from 1995 to 2020. The average Natural Resource utilization Efficiency (NRUE) among G20 countries is 0.7071, indicating an improvement potential of around 29.29% in natural resource conversion. Developed G20 economies have a natural resource utilization efficiency (NRUE) of 0.9528, higher than that of the NRUE (0.506) of developing G20 countries. Developed countries have a TGR of 0.9962, which is significantly higher than the TGR of developing countries at 0.6746, indicating a significant gap in production technology. Total factor productivity growth of 0.8 % was witnessed in developed countries while developing countries demonstrated a decline of 0.6 percent in Total Factor Productivity Change (TFPC) over the study period. Analyzing the decomposition of TFPC reveals technological change as the predominant factor influencing productivity change in G20 economies instead of efficiency changes. A Mann-Whitney U test has proved the existence of significant statistical differences in average NRUE, TGR, and technological change (TC) levels between developed and developing G20 countries.

스튜어드십 코드와 일본기업의 연구개발투자

Purpose: This paper explores the influence of both domestic and international institutional investors, recognized as emerging outside blockholders in Japanese firms, on R&D investment. The study aims to understand how these investors impact R&D spending, a crucial factor for sustainable growth, particularly in the context of the implementation of the Stewardship Code.
 Research design, data, and methodology: The analysis employed panel analysis on 105 manufacturing companies listed on Nikkei225 from 2014 to 2020. We used the intensity of R&D as the dependent variable, with institutional investors holding more than 3% of each company’s shares as the independent variable. By classifying institutional investors, we compared the results between domestic and foreign institutional investors.
 Results: The analysis revealed that outside blockholders had a significantly positive effect on R&D. However, when institutions were classified, different results emerged. While domestic institutional investors had a significant positive impact on R&D, foreign institutional investors did not yield statistically significant results. Additionally, the financial institution variable, acting as the control variable and related to insider investors, consistently demonstrated a significantly negative effect across all models.
 Implications: Despite foreign institutional investors dominating the Japanese stock market, it was found that domestic institutional investors have emerged as significant outside blockholders in each firm. Traditionally criticized as passive investors, domestic institutional investors are shown to influence and promote R&D for long-term growth, in line with the Japanese stewardship code. While foreign investors are often associated with potential decreases in R&D for short-term gains such as ROE and dividends, no significant evidence was found. Moreover, with increasing stake ratios, foreign investors have the potential to positively impact Japanese firms in the future.

ИСПОЛЬЗОВАНИЕ МЕТОДА «ЗАТРАТЫ – ВЫПУСК» ДЛЯ ОБОСНОВАНИЯ СТРАТЕГИЧЕСКИХ ПРОЕКТОВ ОБЕСПЕЧЕНИЯ ПРОДОВОЛЬСТВЕННОЙ БЕЗОПАСНОСТИ РОССИИ

The article contains a theoretical justification for the methods of intersectoral economics of the agri-food complex, based on the use of the author’s modification of input-output tables for the development and implementation of strategic projects to ensure food security in Russia. The key factors for sustainable growth of gross value added and final products in the country’s agri-food complex have been identified. A methodology has been developed for forecasting the vector of Russian food exports as a process with a high level of uncertainty. The influence of the spatial factor on the level and quality of food supply for the regional population has been revealed. The features of the matrices of direct and total cost coefficients have been studied, their relative stability in the medium term has been proven, opening up new opportunities for using the inputoutput method to justify strategic projects. A multi-level system of models is proposed, the basis of which is the inter-product balances of enterprises in the agri-food complex. The priorities for the structural modernization of the agri-food complex have been identified. The strategic directions for the development of institutions that ensure the growth of food consumption by the regional population are substantiated. Methodological recommendations have been developed for managing strategic projects to ensure the country’s food security in the context of new global challenges.

Features of taxation of rational environmental management as a factor of sustainable growth in Russia

The article is devoted to the study of the problems of fiscal regulation of the rational use of natural resources to achieve the goals of sustainable economic growth and improve the quality of life of the population. According to official statistics, it should be noted that it is difficult to identify individual problems on the impact of direct taxation of the use of natural resources on the effectiveness of environmental management in Russia. Great practical importance in theoretical and applied economics is attached to strengthening the environmental component in taxation. The purpose of the study was to analyze the prospects for the development of the implemented directions of the tax policy of rational environmental management to ensure the environmental safety of Russia. In modern tax systems, a separate aspect highlights the directions of tax regulation of the use of natural resources, providing a fiscally significant effect on budget revenues at all levels and increasing the environmental potential of rational environmental management. Various general scientific methods were used in the research process, including: abstract-logical, comparative analysis, generalization, as well as tabular and graphical methods. When studying the practical experience of tax regulation of effective environmental management, SWOT analysis methods, as well as variable and trend analysis are used. The authors provide a systematic analysis of the practice of ensuring budget revenues of the subjects of the Russian Federation and their compliance with the policy of rational environmental management, as well as determining the causal relationship of the considered features of taxation of the use of natural resources in Russia. The procedure for taxation of environmental management is important for the formation of fiscal sustainability and ensuring high efficiency of tax policy in the field of rational environmental management. The state policy of taxation of environmental management should be based on the principle of preserving the interest of investors in investments in environmental protection measures, providing tax incentives and preferences for the introduction of new waste-free production technologies. The prospects for further development of tax regulation of effective environmental management should be aimed at activating public-private partnerships by stimulating private investment in the creation of new and modernization of existing assets of the "green" economy, as well as optimizing environmental monitoring.

The relevance of ensuring the financial stability of commercial banks in Kazakhstan through the development of their own financial management

The research topic is relevant due to the fact that the financial system belongs to the main and important areas of sustainable development of any country. The relevance of the article lies in the need to develop our Kazakhstan FM, to increase the stability and reliability of the STB. The purpose of the research topic is to reflect the role and importance of own financial management (hereinafter FM) in the activities of second-tier banks (hereinafter STB) as the main factor of sustainable growth and development of its stability. The article reflects the importance and value of adapting and developing one's FM in the activities of banks, taking into account the available resources and opportunities, the current market situation. In the course of the study, it was revealed that in order to improve the quality of management of banks' resources, more flexible ways of improving FM are needed. During the research, financial analysis and synthesis, deduction and induction, economic and statistical evaluation, etc. were used. The materials of the scientific research were statistical data of the STB RK and Halyk Bank for 2018–2023, legal documents and analytical reports on this topic. The research proves the need for own FM, reveals the theoretical and applied aspects of the development and adaptation of FM in commercial banks of the Republic of Kazakhstan, to improve the quality of staff work, and increase the stability of STB. Despite the fact that many scientists consider FM issues; this problem remains not fully studied for Kazakhstan.

Exploring the Role of Socio-Cultural Factors on the Development of Human Capital in Multi-Ethnic Regions

Human capital is among the most important factors for sustainable economic growth. However, there remains some debate on the factors promoting or inhibiting its development. This research attempts to put socio-cultural factors at the front of this debate. Using econometric models, we exploratively test the influence of a raft of social and cultural variables on human capital development in multi-ethnic regions of Russia. We found that factors such as marriage, divorce, life expectancy, accessibility to education and healthcare, and attitude towards tourism all influence human capital to varying degrees. Domestic tourism, including museum and theatre visits were particularly impactful. We argue that cultural knowledge and exchange can promote socio-cultural harmony in multi-ethnic regions which can contribute to the region’s human capital development. By exploring the impact of socio-cultural factors, we hope to lead towards a holistic understanding of sustainable human capital development.

Determinants of Firm Sustainable Growth Before and After the COVID-19 Pandemic in Consumer Goods Industry Sector Companies

This research was conducted to analyze the determining factors for sustainable growth and firm nominal value. Cash holding, capital gearing, asset turnover, current ratio, economic value added and intellectual capital are expected to be determinants of sustainable growth and firm nominal value with the moderating variables sustainable growth and financial distress risk as determinants of firm nominal value. Using purposive sampling, a sample of 26 companies was obtained that met the criteria, resulting in a sample of 182. The regression results showed that for 2015-2021, cash holding, asset turnover, EVA and intellectual capital had an influence on the sustainable growth rate. Cash holding and asset turnover influence nominal firm value. During the COVID-19 pandemic, the regression results show that cash holding, capital gearing, asset turnover and intellectual capital influence the sustainable growth rate. Capital gearing, asset turnover and EVA influence Firm Nominal value. The results of the paired sample test for all research variables before and after the COVID-19 pandemic were significant, meaning that the research variables experienced significant changes.

Sustainable Institutional Entrepreneurial Culture and Innovation For Economic Growth

This article discusses institutional entrepreneurial culture and the enabling factors for sustainable economic growth. This study aims to identify the key factors contributing to institutional entrepreneurial culture development. The research utilizes a qualitative approach, and the results show that an innovative and entrepreneurial culture can enhance a country's long-term economic prosperity. A strong relationship exists between culture, innovation, and long-term economic success. Therefore, it is important to promote an institutional entrepreneurial culture through several factors, such as supporting government policies and programs, developing supporting infrastructure, education, and training, and cooperation between the public and private sectors. This research provides useful insights for policies and interests in the economic sector to promote innovation and entrepreneurship that can enhance economic growth. As such, this article provides important insights for readers interested in developing a sustainable institutional entrepreneurial culture and economic growth.

New vaccination strategies are required for effective control of winter ulcer disease caused by emerging variant strains of Moritella viscosa in Atlantic salmon.

Moritella viscosa is one on the major etiological agents of winter-ulcers in Atlantic salmon (Salmo salar) in Norway. Outbreaks of ulcerative disease in farmed fish occurs across the North Atlantic region and is an impeding factor for sustainable growth within the industry. Commercially available multivalent core vaccines containing inactivated bacterin of M. viscosa reduce mortality and clinical signs related to winter ulcer disease. Two major genetic clades within M. viscosa have previously been described based on gyrB sequencing, namely typical (hereafter referred to as classic) and variant. Vaccination-challenge trials using vaccines including either variant and or classic isolates of M. viscosa show that classic clade isolates included in current commercial multivalent core vaccines provide poor cross-protection against emerging variant strains, while variant strains confer high level of protection against variant M. viscosa but to a lesser extent to classic clade isolates. This demonstrates that future vaccine regimens should include a combination of strains from both clades.

Institutional Environment and Tourism: Moderating Role of Host Countries’ Health System

Tourism has gradually emerged to become a significant factor for sustainable economic growth around the globe. Along with other variables, the institutional environment has a significant influence on the growth of the tourism industry. Consequently, there are two primary goals for this study: firstly, to improve the body of knowledge already available on the institution-tourism nexus; secondly, to investigate how the health systems of the host countries contribute to the said nexus. To analyze these relations, we collected data from 50 countries across 10 years (2009–2018). We apply multiple regression analysis to a balanced panel dataset of 500 observations. Furthermore, we also used an interactive variable in conjunction with the primary independent, dependent, and control variables of the study to determine the moderating effect of the host countries’ health systems. The study’s findings demonstrated the significance of an efficient institutional structure in boosting tourism. Additionally, the health systems of the host nations play a significant role in strengthening the connection between institutions and tourism, especially in the post-COVID-19 period. Through the creation of institutional frameworks and health infrastructure, the study’s findings will assist policymakers in developing efficient tourism policies. All of the above strategies will eventually lead to a trustworthy, safe, and healthy environment for both locals and visitors.

Culture and Institutional Changes and Their Impact on Economic and Financial Development Trajectories

The quality of institutions occupies a central place in the set of non-economic factors influencing macroeconomic dynamics and the development of financial markets. This quality is largely shaped by objective factors that accompany the historical process. Therefore, this study focuses on the driving forces of this process and how they affect the quality of institutions. It is shown that the main such force or source of institutional change is culture, interpreted in a broad sense, which includes not only that accumulated at different stages of the historical process relevant heritage, but also behavioral attitudes and value beliefs prevailing in society that affect decision-making. The thesis about the importance of culture as a source of formation of the quality of national institutions and a factor of sustainable economic dynamics is substantiated through the example of specific historical events. Underestimation of this conditionality often prioritizes economic policy goals of financial development without due consideration and assessment of institutional constraints. This factor in macroeconomic decision-making is mainly characteristic of emerging market economies. At the same time, the results of research in recent decades indicate that the impact of financial development on macroeconomic dynamics is positive and strong in conditions of high-quality institutions. This allows the article to assess the role of finance and the quality of institutions differently in the set of state economic policy priorities. As applied to individual countries with obvious deficiencies in the institutional environment, this study, referring to historical experience and modern empirical material, puts forward and substantiates the thesis that ensures a high quality of institutions is the most important priority of transforming financial development into a factor of positive and sustainable economic growth.

The moderating effect of environmental turbulence and the influence of critical factors for sustainable MLM business growth: an empirical study

The moderating effect of environmental turbulence and the influence of critical factors for sustainable MLM business growth: an empirical study

Morphological Change and Internal Growth Factors of Firms in the Korean Pharmaceutical Industry in Recent Decades

The pharmaceutical industry is a regulatory-based high-tech industry that requires long-term R&D investments from product development to market entry. This study investigates how pharmaceutical firms in Korea have grown their production size, changed their morphological structure, and identified the internal factors for sustainable growth in recent decades. First, with time series production data of pharmaceutical firms collected based on the production records of finished drugs, we studied the morphological change of the firms to adapt to environmental change by using general morphological analysis. Second, the pharmaceutical firms were divided into above-average growth firms and non-above-average growth firms, high growth firms, and non-high growth firms, using the decision tree technique to analyze and visualize the determining factors of sustainable growth firms. The general morphological analysis result showed that during the past two decades, in response to undergoing policy and environmental changes, the types of products by pharmaceutical firms have significantly changed from over-the-counter to ethical drugs and have shifted from generic drugs to more R&D-intensive ones. Furthermore, the decision tree technique identified the internal factors of growth and non-growth firms for sustainable growth during the past three decades. The decision tree analysis showed the determining factors for above-average and high-growth firms, such as the firm’s size, age, R&D investment, the over-the-counter drug to ethical drug production ratio, and the choice between chemical and bio drugs. The research findings imply that pharmaceutical firms must combine their strategy-side internal factors with the organization-side internal factors to achieve above-average or high-growth firms over the long term. Some detailed business and policy implications and future research topics are also presented.

Impact of the Quality of the Institutional Structure of the Economy on Income Inequality of Households: Results of a Cross-National Study

Institutional quality and effectiveness of government institutions are important factors for sustainable and dynamic economic growth. These factors can have a significant impact on the dynamics of economic inequality and poverty in a country. The number of publications on this topic began to increase about 20–30 years ago. Scientists have been researching whether the government is able to influence the problem of economic inequality, which is growing since the 1980s, and on what factors it depends.This topic remainsrelevanttoday, as all the necessary answers have not been received yet.Thepurpose of this research article is to clarify the relationships between the institutional structure quality of an economy and the income inequality of households.The article uses suchmethodsas analysis and synthesis, systematization, classification, and categorization of information; classical correlation analysis, as well as the method of analysis of qualitative pairwise correlation. The study highlights that there is high dependence between the analyzed variables in some countries if we look at them in separately. This dependency can take on both negative and positive values. At the same time, analyzing the full sample of countries, as well as in quartile groups classified by the level of income inequality, we did not reveal any pattern or special sign by which the dependence between the studied variables becomes more pronounced and distant from zero. The study shows that the correlation value between the variables is just below zero over the Pearson correlation coefficient. More unambiguous results were obtained when the list of countries was filtered by the indicator of the inequality transparency index. When analyzing this particular portion of our sample of countries, we obtained results with moderately negative dependence between the study variables.Weconcludedthat for developed countries with an effective government and relatively low levels of income inequality, the decline in the quality of the institutional structure of the economy on average will be accompanied by an increase in income inequality and vice versa.

A Model of Effective Factors for Sustainable Growth of New Technology-Based Firms in Developing Countries

A Model of Effective Factors for Sustainable Growth of New Technology-Based Firms in Developing Countries