Innovative Companies Research Articles

Critically Analysing the Hype of Sandbox in the Context of Fintech

The UK’s financial market is under severe pressure as its proportion in the international financial market is steadily decreasing. Intending to alter this phenomenon and “encourage the development of its FinTech ecosystem,”[i] so that the UK can keep pace with global financial developments, “closing the gap which has opened up between the UK and other global centres,”[ii] the Financial Conduct Authority (FCA) proposed the regulatory sandbox in 2015, which is “an environment in which FinTech businesses can test innovative products, services, business models and delivery mechanisms that stem from engaging in regulated activities.”[iii] Due to its ability to encourage FinTech innovations in companies while preventing consumer disruption, “since its launch in 2016,”[iv] it has rapidly gained popularity and taken the world by storm. However, some have contended that such a hype of the regulatory sandbox contributes to the failure in seriously assessing the benefits and the potential downsides of the instrument. As a result, the regulatory sandbox has now become a controversial topic. Based on these controversies, this essay analyze the regulatory sandbox and the Hype surrounding it and take the stance that the hype about sandbox may not take into account the conditions under which it has been successful and exaggerates the advantages of sandbox, which is not conducive to an objective evaluation.

Analysis of New Energy Vehicles Taking Tesla as an Example

In the current context marked by a growing number of start-ups, the lack of clearly successful enterprises is not a random occurrence, but rather highlights complex underlying reasons that require thorough investigation. This paper undertakes an investigation focused on the case study of Tesla, integrating perspectives from the fields of business and economics to analyze the complex factors driving the success of innovative start-up companies. This study employs a comprehensive literature review method to emphasize the significant influence of departmental contributions in shaping tactics that foster success. This research not only enhances the comprehension of the strategic formulation process in present-day start-ups but also has the potential to act as a guiding reference for rising companies. Drawing on a comprehensive review of Tesla's trajectory, this research offers valuable insights to future start-ups, enabling them to develop strategies that are well aligned with achieving success.

A New Angle to Ease Consumers Pain of Large Consumption - Based on a Comparative Case Study of NIO

Compared to the former essays, this essay proposes a new perspective on the existing theory of the pain of paying, which refers to the unpleasant emotional experience generated during the payment process that may affect consumer purchasing behavior since the economic and cultural trends have changed in recent years. The paper uses a comparative case study method with NIO, an innovative electric vehicle company in China, as the main case and traditional fuel vehicle companies (BMW Brilliance) as the auxiliary case, accompanied by field investigations, interviews, and secondary data analysis. Analyzing the existing literature review, market marketing problems of traditional fuel vehicle brands, market marketing innovation of NIO, and comparison between the two, the study aims to provide future trends and enlightenment at the end of the article, which is that extending service duration, improving service quality, and building a sense of community belonging do help NIOs customers reduce the pain of paying and can be the new future perspectives.

The effects of government venture capital: New evidence from China based on a two-sided matching structural model

This study develops a two-sided matching structural model to examine whether government venture capitals (GVCs) crowd out private venture capitals (PVCs) by comparing the pre-money economic valuation of observed and counterfactual investments. The structural model also allows us to study the impacts of GVCs on the post-investment performance of the funded companies. Using China's VC market data between 2000 and 2020, we find that GVC-funded companies are those neglected by PVCs, and the potential economic performance of GVC-funded companies is inferior to that of PVC-funded ones. It means that the data do not support the crowding out conjecture. Moreover, the evidence suggests that the potential innovativeness of GVC-funded companies is higher than that of PVC-funded companies, indicating that GVCs bridge the equity gap left by PVCs in innovative companies. Regarding the impacts on companies' post-investment performance, GVCs are not significantly different from PVCs in improving companies' economic performance, and they are better than PVCs in improving companies' innovative performance. We also explore the impacts of different types of GVCs, the impacts of the co-investment between GVCs and PVCs, and the impacts of GVCs on companies in different stages of development.

Transformation process meets innovation leadership—an analysis of new challenges in change theory

The continuous changes in the business environment require transformation processes and innovation in organizational structures to maintain competitiveness. Innovation is required for future orientation and need an appropriate leadership style to be implemented in the company successfully. Various studies in the literature examine the topic of change models and the requirements for effective implementation of changes. Based on the constant change in the labor market, which is due to ongoing digitalization, the need for research of transformation, change-management and radical or disruptive innovation remains topical. A new challenge arises with a transformation in the entire company which affects all essential business processes. Because several levels are simultaneously affected by the transformation process, a more complex concept is required for the implementation than it could be found in the literature. There is a lack of empirical research in general for innovation-driven transformation processes and a missing connection to the implementation of radical or disruptive innovation in company. The aim of this paper is to investigate the need for new research in change theory. The focus is on the importance of innovation leadership for a radical or disruptive innovation change process, what is to be classified under a comprehensive transformation process in the company. In addition, the need for an innovation transformation model is established.

Green Innovation and Its Effects on Innovation Climate and Environmental Sustainability: The Moderating Influence of Green Abilities and Strategies

This research aims to explore the relationship among environmental sustainability, work environment, green innovation, and industrial companies’ innovation climate. The purpose of this exploration was to find out the explanation of how these variables influence each other and how they play a role in organizations sustainability. The study collected data from 253 employees in the Kingdom of Saudi Arabia’s oil and gas, minerals, and mining sectors. It employed the Warps analysis method to assess the relationships between green innovation, innovation climate, and environmental sustainability. By applying well-established theoretical frameworks, including the Innovation Diffusion Theory and Environmental Sustainability Theory, the research aims to provide a comprehensive understanding of the dynamics at play. The findings affirm the significant and positive relationships between green innovation and both environmental sustainability and the innovation climate within industrial firms. Moreover, the study highlights the mediating role of the innovation climate, which serves as a bridge connecting green innovation with environmental sustainability outcomes. Additionally, green motivational strategies and green abilities were identified as moderators that enhance the effectiveness of green innovation practices. This research carries practical and theoretical implications. It provides valuable insights for industrial firms seeking to integrate sustainability practices into their operations, enhance their innovation climate, and optimize their green innovation initiatives. The findings bridge the gap between theory and practice, guiding managerial decision-making and facilitating the implementation of sustainable practices. Moreover, the study enriches the theoretical foundations of sustainability and innovation by applying established theories to the industrial context, contributing to a more holistic understanding of these critical concepts in the modern business landscape.

The culture of innovation. Ecuadorian Banana Companies case study

The culture of innovation becomes a necessary practice in all companies. It is a key point of these, and through its application, it is intended to be updated in development and organizational competitiveness. The research aims to identify the culture of innovation in small Ecuadorian banana companies. The methodology used was quantitative-descriptive and correlational to determine the impact of innovation on the organizational culture. Initially, Cronbach's Alpha, which was 0.97, was applied, corresponding to the reliability of the questionnaire formulated based on 17 questions. Later, the Kaiser Meyer Olkin (KMO) test gave a result of 0.89, which allowed a factor analysis; finally, two reduced factors and the correlation of variables were obtained. In conclusion, it is asserted that in small Ecuadorian banana companies, the culture of innovation is not applied properly.

Valuation Analysis of Innovative Pharmaceutical Companies on STAR Market: Evidence from Zhifei Biological

The bio-pharmaceutical industry has gained great opportunities of develop-ment under the COVID-19 epidemic. In order to fit the current market situa-tion better in the post-epidemic era, the valuation analysis of the innovative pharmaceutical industry is conducted, using a model with Zhifei Biological as an example. Based on the assumption that new drugs under the develop-ment phase can also be viewed as assets in the valuation of the company, the DCF and pipeline models are used in the process of valuation. The outbreak of the COVID-19 epidemic has caused considerable changes in the valuation system of innovative pharmaceutical companies in the STAR market, which requires further research and adjustment. This paper uses the method of pipeline valuation based on the DCF model to valuate the specific case, di-viding the companies products already on the market and in different stage of development into four different pipelines. The method is expected to have a higher applicability to the valuation of innovative pharmaceutical high-tech companies. These results shed light on guiding further exploration of valuation analysis.

The relationship between green innovation and sustainable growth in Korean companies: Moderated mediation effect of ESG score by industry

AbstractSustainable development of companies is emphasized by many asset management companies around the world as an investment decision criterion. So, the most important issue in business management is Environment, Social, and Governance (ESG). But, criticism of ESG has been raised and some studies have found the impact of green innovation and ESG on financial performance to be inconclusive or inconsistent. At this point, this study reviewed ESG‐related researches and examined the relationship between green innovation, ESG, and sustainable growth. By analyzing the mediating effect of ESG score, this study examined whether investment for green innovation directly affects corporate sustainable growth or indirectly affects it through ESG score, an external evaluation. In addition, a moderating variable was added to see if this relationship varies by industry. For this research purpose, the moderated mediation effect analysis using PROCESS macro was conducted in‐depth. Companies received ESG evaluation by Korea Corporate Governance Service were selected as a sample. The results of this study will provide many implications for companies that are driving ESG.

Analysis of Innovation and Performance Relationships of Companies Serving in the Information and Communication Sector

Objective. Explorer the relationship between strategic orientation, Porter’s generic competitive strategy, innovative capacity of firm, and products technical performance in the Turkish ICT —Information and Communication Technology— sector. Methodology.This study employed a quantitative research design in which 573 questionnaires applied to people who work in various ICT companies located in Turkey. The research data were examined using mediation effect and path analysis techniques. SmartPLS version 3.2 was used for the abovementioned analyses. Results. The findings revealed a positive and significant correlation between strategic orientation with the innovative capacity of firms and the products technical performance. The results also indicate that Porter’s generic competitive strategies play a mediating role in the relationships between strategic orientation, innovative capacity of firms, and products technical performance. Conclusions. The importance of integrating strategic orientation and competitive strategies in order to innovative capacity of firms or products technical performance is concluded, particularly in ICT companies.

Micro-foundations of digital innovation capability – A mixed method approach to develop and validate a multi-dimensional measurement instrument

Digital innovation refers to the creation or adoption value-adding novelty through the incorporation of digital technology. Digital innovation challenges established product-centric companies whose innovation management capabilities are insufficient to manage the reconfiguration and transformation necessary for digital innovation and technology. Recent research has introduced different concepts of for example, digital readiness, digitalization capabilities, and digital innovation readiness. However, these concepts have two shortcomings for use in practice and empirical research: most concepts are theoretical in nature, with limited empirically validated measures. As such, this study takes a dynamic capability view to synthesize prior literature on the organizational antecedents of digital innovation and develops a framework for the micro-foundations of digital innovation capability. By applying a mixed-method approach, existing concepts are extended through qualitative research and then translated into a multi-dimensional measurement instrument. This multi-item operationalization is then subjected to scale validation using quantitative research methods. The results show that a company's digital innovation capability is founded upon seven micro-foundations – digital focus, digital innovation process, digital mindset, digital innovation network, digital technology capability, data management, and overcoming digital innovation resistance – that facilitate established companies in sensing, seizing, and reconfiguring digital innovation.

Innovative Business Effort in a Mediterranean Region, Same Characteristics and/or Same Spatial Distribution?

Business innovation is fundamental for sustained economic growth at the regional level. Knowing the common characteristics of innovative companies and their location is essential to carry out appropriate economic policies. To this end, we have carried out a double analysis: one grouping of companies according to characteristics and another by geolocation. This study focused on one of Spain’s 17 autonomous communities, the Comunitat Valenciana, a region characterised by significant industrial diversity. Our results show, among other things, that size is not a differentiating factor when it comes to innovation, and that there is a positive relationship between physical clustering and productivity.

Employee Participation, Digital Sophistication and Innovation Performance

The results of the Finnish MEADOW survey of 2021–2022, comprising responses of management from 1,106 companies, show that nearly half of Finnish companies employing ten or more people had produced a new or significantly improved product or service during the last two years. Of these companies, almost half had produced products or services new also to the market. Both the level of digital sophistication and the extent of employee participation in development are positively associated with the company’s innovation performance after all other factors in the multinominal regression analysis are controlled. The odds ratios in the regression models are higher for innovations new to the market than innovations new only for the company. Broad employee participation shows the highest odds ratios of all variables included in the regression models for both types of innovation. As also companies’ cooperation networks and customer involvement can play a role in innovations, we analysed the combined effect of the above four factors on innovation. A clear positive combined effect for both innovations new to the market and new only for the company was detected, suggesting that it is difficult for companies to build innovation superiority based on technological ability alone – or any other single factor – and that broad employee participation in development is an essential part of the portrait of an innovative company also in the digital age.

Modelling decision-making in the field of green production in a post-industrial society

Modern management processes must solve the complex problem of optimal decision-making and timely and effective forecasting of their results, to select successful combinations of solutions in a particular production area of the new information and innovation society that has replaced the industrial era. Considering the above issues, the modelling process as an effective mechanism for decision-making and risk management deserves special attention. The purpose of the study was to highlight modelling as an effective method of decision-making in green production in a post-industrial society, and to justify the feasibility of its use at different levels of the production process. During the study, theoretical methods were applied, in particular, the study of scientific materials and research results, description and comparison. The results were also generalized and analysed. The article considers main approaches to the strategy of the introduction of modelling of decision-making in the field of green production in the post-industrial society, and provides a detailed definition of its structural elements and priority principles. It is clarified that modelling as a management tool is used in the development of rather complex production and management decisions and is the construction of a model or system of models of the process or phenomenon under study for its study, analysis, and formation of an appropriate fan of alternatives to the result. The main types of modelling according to different classifications are analysed, and the possibilities of applying some of them in the decision-making system in the production plane are investigated. Conclusions on the efficiency and effectiveness of the use of the modern innovation and information economic space in production processes are provided. The expediency of using different approaches to decision-making modelling, depending on some influencing factors, is substantiated. The possibility of solving the industrial multitasking of decision-making by creating models is proved. These research results are of practical importance for improving management processes in the field of green production in a post-industrial society, regardless of ownership, production volumes and scope of activity

The Role of Competition Law in Encouraging Innovation and Competitiveness of Companies in West Java

This study explores the complex relationships that exist between innovation, competitiveness, and competition legislation in West Java, Indonesian businesses. West Java's varied industrial landscape makes it a perfect place to study how competition legislation influences creativity and competitiveness. Using a mixed-method approach, the study combines survey data that is quantitatively collected with qualitative information obtained through interviews. The results show that a sizable majority of West Javan businesses have a favorable opinion of competition legislation and see it as a tool for ensuring openness and fair competition. Notably, a significant fraction of these businesses also devote a notable amount of their resources to research and development (R&D) and actively participate in innovation activities. According to the survey's findings, firms may be encouraged to invest in innovation by competition laws that are properly implemented, which is consistent with neoclassical economic theory. In spite of the favorable attitudes and investments in innovation, there are differences amongst West Javan enterprises in competitiveness metrics like market share and profitability. This highlights the intricate connection—which varies depending on the sector and industry—between company competitiveness and competition legislation. Qualitative insights gleaned from interviews shed light on the dynamics and obstacles unique to the industry, highlighting the necessity of customized strategies for competition law enforcement. The paper also outlines obstacles, including a lack of knowledge about competition law among enterprises, resource limitations that regulatory bodies must deal with, and worries about intellectual property protection in very competitive markets. These results highlight the need of raising awareness and developing capacity among regulatory agencies as well as businesses. The research has consequences for policymaking as well, pointing to the need for programs to raise business understanding, provide funding to regulatory bodies, and create safeguards for intellectual property rights. The study adds to our knowledge of how competition legislation affects corporate behavior and offers insightful information that can guide regulatory strategies in developing nations like West Java.

Catering to the experts: food marketing and health professionals in the early 20th century

PurposeThis paper aims to examine the marketing strategies designed by three innovative early 1900s food companies. It traces the coordination of these businesses’ research funding, advertising, direct mail and promotional tactics to show how they intersected and impacted consumers and health professionals in the period when scientists were first able to quantify the relationship between good health and food. The paper analyzes internal company documents, advertisements and marketing materials from Knox Gelatine, Borden and Sunkist.Design/methodology/approachResearch for this paper benefited from the author’s unlimited access to the private documents of the Knox Gelatine Company and its executives. These documents were analyzed chronologically and thematically. They chronicled the company’s attempts to influence the medical world and the ways it cultivated home economists. The paper also used publicly available digitized documents from Sunkist and Borden. The paper would benefit from further detailed analysis of these documents to parse Knox’s targeting by race and ethnicity.FindingsIn the 1920s, Knox, Borden and Sunkist developed a marketing strategy which leveraged a new class of experts – the hundreds of thousands of medical professionals, home economists, teachers and government agents who advised American women. By distributing specific laboratory research on the nutritional benefits of their products to this emerging class of health professionals and the consumers who trusted them, these companies developed relationships with opinion leaders designed specifically to influence product sales.Research limitations/implicationsThis research benefited from access to the private documents of Knox Gelatine Company which divulge the company’s attempts to influence the medical world and cultivate home economists. The paper would benefit from further analysis of these documents to parse the company’s targeting by race and ethnicity as well as a deeper comparison to companies that tried to work with health professionals unsuccessfully and companies that adopted this tactic in the household products or tobacco area. Opportunities also exist to do a fuller analysis of variations in food marketing by rural versus urban as well as race.Originality/valueBy reconstructing the sequencing and content of these three companies’ 1920s marketing strategies, this research uncovers a form of early 20th century food marketing directed at health and science professionals which has been neglected in advertising histories.

Analysis of the Effectiveness of Government Support Project of Excellent Manufacturing Innovation Companies from the Perspective of Growth Ladder

Analysis of the Effectiveness of Government Support Project of Excellent Manufacturing Innovation Companies from the Perspective of Growth Ladder

Using trademarks to fend off import competition: Evidence from the top R&D-spending companies

This study focuses on the use of trademarks (TMs) in response to import competition from China. As intangibles increasingly become a source of competitive advantage in international markets, firms, especially multinational enterprises (MNEs) based in developed countries, need to leverage their unique resources against increased price-based competition from low-wage countries. We argue that TMs are market-based intangible resources used by highly innovative MNEs to signal superior quality and to differentiate themselves in industries that are more exposed to imports. We test our hypotheses using a panel of the world’s most innovative companies that combine financial information and trademarking activities in the years 2009–2014. We find evidence that Chinese competition increases the likelihood that MNEs based in industrialised countries file TM applications and incorporate both services and goods into their product portfolios, in line with the servitisation of manufacturing firms.

From survey to integrated digital documentation of the cultural heritage of museums: A protocol for the anastylosis of archaeological finds

The conservation, development, and enjoyment of the artefacts in museums can benefit greatly from the application of integrated digital technologies. This topic is of great interest not only to researchers in various disciplines, but also to the managers of this heritage, the producers of technologies, innovative companies and start-ups, and the wider public. However, it does not currently seem to be possible to identify methods and protocols shared between the actors involved for the purpose of managing the phases of acquisition, definition of data models, management of digital content, and its later implementation. “Tailor-made” approaches therefore have direct consequences on the efficacy of the digitalisation processes currently available when applied to conservation and restoration, and to the promotion of cultural heritage. In this paper, we propose a protocol for the digitalisation of archaeological artefacts for the purpose of their display in museums. The method is illustrated with reference to a case study involving very rare artefacts from a wooden throne from the Villanovan Age. Finally, the work is part of the results of a wider project for the definition of protocols for the surveying and modelling of cultural heritage, from the architectural scale down to the scale of artefacts, carried out through public-private partnerships.

Barriers to the Formation of an Ecosystem of Technological Entrepreneurship in Russia

The article is devoted to the current issues of the development of the technological entrepreneurship ecosystem, the growing importance of which is due to the need to implement innovative high-tech business ideas, their implementation and iteration to achieve Russia’s technological sovereignty. The purpose of this study is to generalize and evaluate Russian experience of state support for technological entrepreneurship, as well as to identify barriers to the formation of an innovation ecosystem at the regional level. During the research process, a complex of general scientific methods was used, including: analysis and synthesis, logical, monographic, questioning, generalization, interpretation, graphic visualization. The continuity of international practice of innovative development for Russia, especially in the context of promoting the development of the technological entrepreneurship sector, is determined in the plane of the formation of an innovative society, mental and cognitive strengthening of the national innovation ecosystem. An analysis of the key imperatives in terms of institutional, financial, economic and program mechanisms for supporting the Russian high-tech sector and entrepreneurship was carried out. Based on the results of a survey of subjects of the innovation process conducted as part of thematic foresight sessions in the period 2019–2023. in the regions of the Volga and Ural Federal Districts, barriers limiting the development of the technological entrepreneurship ecosystem are identified, and development directions that help improve its efficiency are identified. From the point of view of practical significance, the results of the study can be useful to government authorities at all levels in the implementation of ecosystem management decisions, including the development of tools to support individual sectors of the economy, the preparation of road maps, regional strategies and standards in the field of innovative development.