Investment In Innovative Technologies Research Articles

Exploring the Impact of Innovation practices, Technologies on the Operational Efficiency of Commercial Banks in Nigeria

In the rapidly evolving financial landscape, innovation has become a critical driver of operational efficiency for commercial banks. This study explores the impact of technological and process innovations on the operational efficiency of commercial banks in Nigeria. It aims to understand how innovative practices and technologies influence cost reduction, service delivery, customer satisfaction, and overall financial performance. Using a straightforward random sampling technique and a descriptive survey design, the study selected 388 participants at random from the 97,026 commercial bank employees in Calabar Metropolis, Cross River State, who make up the entire population. The research employs a mixed-methods approach, combining quantitative data analysis from financial reports of major Nigerian banks with qualitative insights from interviews with banking professionals. The findings indicate that the adoption of digital banking platforms, automated teller machines (ATMs), mobile banking applications, and advanced data analytics significantly enhance operational efficiency. These innovations reduce transaction costs, minimize human error, and improve service speed and reliability. Furthermore, process innovations such as streamlined loan processing and automated compliance checks contribute to more efficient banking operations. The study highlights the high cost of technology implementation, cybersecurity risks, and the need for continuous staff training as the challenges that may hinder innovation to strive. Despite these challenges, the positive impact of innovation on operational efficiency is evident, suggesting that continued investment in innovative technologies and practices is crucial for the competitive advantage and sustainability of commercial banks in Nigeria. The study further recommends that Nigerian commercial banks prioritize technology adoption and process improvements to enhance their operational capabilities and meet the dynamic needs of their customers.

THE USE OF VIRTUAL REALITY TECHNOLOGIES IN MILITARY EDUCATION

The article examines the topical topic of introducing virtual reality technology into military education to increase the level of effectiveness and safety of training military personnel. In the context of the latest challenges to global security and rapid technological progress, the need to improve the quality of military personnel training has become extremely urgent. The purpose(s) of the article is to analyze the state, problems and prospects of introducing virtual reality into military education in order to increase the level of efficiency and safety of training military personnel. The advantages of using virtual reality technology in the field of military education are outlined, in particular, reproduction of close to reality combat scenarios, immersive simulations and optimization of team interaction. Having analyzed in the article modern approaches to military training and the shortcomings of classical methods, we singled out the prospects of using virtual reality to increase the effectiveness of the educational process, balancing the realism of the experience and the safety of military training. The introduction of virtual reality into the educational process of military education will require investments, the development of specialized software and the training of qualified instructors, although over time these efforts can increase the level of combat readiness of the armed forces. The conclusion of the article emphasizes that the introduction of virtual reality into military education should become one of the key decisions in the framework of the reform of military personnel training. The use of this technology helps to increase the level and speed of knowledge acquisition, the safety of military training and exercises, to develop key skills and readiness to act in a real combat environment. Investments in innovative technologies and the latest training tools are critical to maintaining the combat capability of the armed forces and the successful execution of combat missions. The results of the article will have important implications for commanders, military instructors, and researchers trying to improve the effectiveness and safety of military personnel training. They should be able to use the latest virtual reality technology for greater flexibility and efficiency of the educational process, which will help strengthen the combat capability of the military personnel of the armed forces.

Impact of tax policy on the development of agrarian enterprises and organisations

The purpose of this study was to analyse the role of tax policy in the agricultural sector to determine its impact on innovative development, investment decisions, and competitiveness of enterprises in this area. The study performed a comparative analysis of various aspects of tax regulation, review of taxation instruments, consideration of special tax regimes in such countries as the USA, Germany, France, Spain, Poland, and Kyrgyzstan. The study investigated various aspects of tax regulation that have direct and indirect impact on the functioning of the agricultural sector. The role of tax policy in stimulating investment and development in agriculture by providing tax incentives and subsidies for investment in innovative technologies, process mechanisation, and research was examined. Special tax regimes aimed at supporting agricultural enterprises were analysed, and examples of tax policies in different countries, including the USA, the European Union, China, India, and Kyrgyzstan, were provided. The state of agricultural development in Kyrgyzstan was reviewed, and the main challenges, government support measures, and the main land tax rates across the country were identified. The key point was to develop recommendations for improving the tax system to stimulate agricultural development derived from the synthesis method. This involves the introduction of tax exemptions and investment incentives, differentiation of tax rates depending on segments and regions of agriculture, stakeholder consultations, simplification of tax administration, and attraction of foreign investment through special tax regimes. Concrete examples were also given of large agricultural enterprises in different countries where improved tax policies can contribute to the development and efficiency of their operations

Convergence Processes in the European Agriculture: Analysis of the Total Factor of Productivity

The article explored labour productivity in agriculture and carried out a comparative analysis of the achieved level of labour productivity in the countries of the European Union. The efficiency of agricultural production needs to be measured to improve the productivity, competitiveness, and profitability of farms. The multifactorial total factor productivity (MFP) of agricultural production evaluates the main and additional sources of economic growth in the agricultural sector. Based on the analysis of beta convergence, we observe an increase in total factor productivity (TFP) in Slovakia and the countries of the European Union. Based on the obtained statistically significant regression analysis models, beta convergence and sigma divergence of the TFP of the agricultural sector in the EU and Slovakia were identified. Thus, the process of positive convergence was confirmed, which indicates the convergence of the economic development of Slovakia with highly developed countries and the reduction of disparities between countries. State support and investment in innovative technologies will stimulate the adoption of new technologies and at the same time ensure technological progress and improve the impact of agriculture on the environment. We also concluded that it is important to improve the skills of those working in the agricultural sector, and as a result, an increase in TFP is expected.

Green innovative economy remodeling based on economic complexity

In this article, we propose a model of innovative economy remodeling, which aims to increase economic complexity by developing and investing in the green economy. We create this model for example of a transitional economy, which is the economy of Ukraine. For a comprehensive statistical analysis of the share of natural and energy resources in individual sectors of the economy, data on intermediate consumer costs from the first quadrant of the Input-Output table (Leontief model) were used for the first time. In this way, the most resource-intensive sectors of the economy and those that require investment in innovative technologies of green business are identified. The following sectors have the highest shares in the consumption of natural and water resources: C – Production; D – Electricity, gas, steam and air conditioning supply; E - Water supply; sewerage, waste management and remediation activities. In these sectors, first of all, implementing modern (knowledge-rich) green technologies should take place, which will reduce the consumption of natural and water resources. The proposed model can serve as a justification for the choice of investment directions in the remodeling of other economies in the transition period.

TECHNOLOGY AND ITS IMPACT ON THE PROFITABILITY WITH REFERENCE TO INDIAN BANKS

In the present changing scenario, the banking industry has heavily invested in information and communication technology. With the increase in investment in innovative technologies, the challenge related to misbalance in a bank’s business operations and its reputation has been raised Therefore, it’s requisite for banks to outlay technology in a way to assure productivity of banks. The present study explores the impact of technology on public and private sector banks in India. Using the variables (Net Interest Margin; Return on Assets; Cost of Deposit; Return on Investment and Credit Deposits Ratio) of six public and private sector banks for the last ten years between 2012-2021, the study finds that investment in technology has resulted in enhancement of profitability of public sector banks. The study is carried out using SPSS Software. The research findings provide insight to the bank management to pay more attention to the employment of innovative technologies to ensure greater efficiency and improved performance.

ІНВЕСТИЦІЙНЕ ЗАБЕЗПЕЧЕННЯ РОЗВИТКУ ІННОВАЦІЙНИХ ТЕХНОЛОГІЙ

The article analyzes the essence of the categories "innovations" and "investments" and the peculiarities of approaches of representatives of different scientific schools to understanding these concepts. The were considered the interpretations of the studied categories by international institutions and those given in the legislative acts of Ukraine. Taking into account the interconnection of investments with innovations it has been substantiated the need to analyze the concepts of "investments in innovations" and "investments in innovative technologies". The high level of international competition in the market of innovative technologies and the practical non-alternative nature of the innovative development path determine the particular importance, except for the choice of ways and methods of creation and implementation, identifying priority sources of investment in innovative technologies. Investments in innovative technologies should be viewed as a resource base for the implementation of innovative activities, a certain limited or insufficient level of quality of which does not allow to form an effective mechanism for the efficient use of new technologies. The investment resource that ensures the creation and diffusion of new technologies is associated with a number of additional features of the innovation and investment process. It were considered the factors influencing investments in innovative technologies and the existing forms of investment in the creation and implementation of innovative technologies; determined the expediency of using alternative sources of investment – venture capital investment, financial support of business angels, business incubators and business accelerators, crowdfunding and crowdsourcing. It was analyzed the "Investment" indicators presented in the European Innovation Scoreboard 2023 and concludes that the vast majority of European countries – innovation leaders are characterized by an increase in the "Investment" indicators for the period of 2016–2023, primarily due to an increase in the use of venture capital. However, in recent years, there is a tendency for investment activity to decrease in many countries due to the effects of the pandemic and the worsening macroeconomic situation. Factors such as russia's invasion of Ukraine, the energy crisis, inflation, etc. may have a negative impact on innovation efficiency. Ukraine, like all countries whose innovation level is lower than the EU average, needs to revise the concept of scientific and technological development to overcome the inhibiting processes in this area.

Cargo bicycles as an alternative to make sustainable last-mile deliveries in Medellin, Colombia

Supply chain management in urban centers has been receiving increasing attention. The reason is that freight transport efficiency has improved in recent times and has contributed to regions' economic and social development. Thus, new urban mobility initiatives have been developing to deliver merchandise efficiently, which reduce last-mile deliveries costs and negative externalities to the environment. In the case of Latin-American cities, freight transport faces problems like poor infrastructure and little investment in innovative technologies that can help improve deliveries. In this sense, cargo bicycles and tricycles have emerged as profitable alternatives for making last-mile deliveries more efficient in urban centers. These modes represent a low investment in vehicles that are versatile for moving through densely populated cities and have a low environmental impact. At the same time, this alternative brings economic benefits for both companies and freight carriers. The current research reports the study and analyses of survey data collected by the authors to discuss last-mile deliveries using cargo bikes. To do so, the authors interviewed, on the one hand, the directors of cargo bike companies, and, on the other hand, they conducted surveys to carriers who work in last-mile deliveries to and from commercial establishments in the study area. The case study is Medellin, Colombia, a developing Latin American city with high slopes on its roads due to its mountainous topography, a condition that impacts cargo transportation by bicycle. The empirical results obtained serve as a basis for the case study to identify critical issues in bicycle last-mile deliveries and planning in cities with similar socio-economic and topographical conditions. These enable assessment of topographic characteristics, road safety, profiles of the couriers, and merchandise properties to optimize the use and benefits of cargo bikes in developing cities.

Determining the value of TB active case-finding: current evidence and methodological considerations.

Active case-finding (ACF) is an important component of the End TB Strategy. However, ACF is resource-intensive, and the economics of ACF are not well-understood. Data on the costs of ACF are limited, with little consistency in the units and methods used to estimate and report costs. Mathematical models to forecast the long-term effects of ACF require empirical measurements of the yield, timing and costs of case detection. Pragmatic trials offer an opportunity to assess the cost-effectiveness of ACF interventions within a 'real-world´ context. However, such analyses generally require early introduction of economic evaluations to enable prospective data collection on resource requirements. Closing the global case-detection gap will require substantial additional resources, including continued investment in innovative technologies. Research is essential to the optimal implementation, cost-effectiveness, and affordability of ACF in high-burden settings. To assess the value of ACF, we must prioritize the collection of high-quality data regarding costs and effectiveness, and link those data to analytical models that are adapted to local settings.

Türk Limanları için Dijitalleşme Yol Haritası

One of the most effective and necessary application areas of digitalization is seaports. The commercial sophistication of a country is measured by its processing capacity at sea ports, which are the export and import gates. Sea ports are trying to reduce error rates by increasing their operation speeds and capacities through digitalization. Ports like port of Singapore, port of Rotterdam are examples that through digitalization processes the ports become more effective and the handling of loading and unloading is much faster. Turkey has an enormous potential in the area of Seaports but the investment in innovative technologies at Seaports in very low. The importance of digitalization to become and be competitive on the global market will be more and more clear to the port operator. Because of this a guideline is needed. Digital road maps in the manufacturing area of Turkey despite the creation of a road map for the seaport are not formed and given. This study is a roadmap to the digitalization process in Turkey sea port was created. To create and understand this roadmap a general understanding for digitalization and Industry 4.0 will be given. Also the digitalization processes in Seaports of Europe will be analyzed on the examples of Hannover port and port of Rotterdam. Finally the current situation in Turkish Seaports in regarding to digitalization will be investigated and the technologies of the biggest five ports will be shown. After this three points in section 2. Material and Method, in section 3 digitalization steps are presented.

The role of financing innovative technological investments with credit for technological innovations

Motivation: Credit for technological innovations is implemented under competition projects in Submeasure 3.2.2 of Innovation support for enterprises of Smart Growth Operational Programme 2014–2020. It is a follow-up to the measure implemented under the Innovative Economy programme. The support granted in the form of so-called ‘technology bonus’ allows to partially repay a credit for technological innovations granted by a commercial bank. It is an instrument of financial support aimed at increasing the innovativeness and competitiveness of micro-, small and medium-sized enterprises (MSME). The innovativeness of Polish MSME is at a very low level, compared to other EU countries., Therefore, it seems necessary to implement various instruments of support and stimulation of investment in innovative technologies. Aim: assessment of credit procedures and possibilities of financial support MSME activity from a credit for technological innovations. To do this, an analysis is needed of the procedure and funding rules for technological investments with POIR resources. Besides, the literature of the subjects as well as the most important findings and statistics have been reviewed and evaluated. Results: presentation of the specificity of the credit in the case of technological innovations, including the obtainment of a technology bonus, assessment of the innovative activity of MSME, as well as the state of financing innovations and technological investments of MSME, including indication of limitations in this respect.

The blood-brain barrier: Physiology and strategies for drug delivery.

The blood-brain barrier (BBB) is a dynamic structure that functions as a gatekeeper, reflecting the unique requirements of the brain. In this review, following a brief historical overview of how the concepts of the BBB and the neurovascular unit (NVU) developed, we describe its physiology and architecture, which pose a particular challenge to therapeutic intervention. We then discuss how the restrictive nature of this barrier can be overcome for the delivery of therapeutic agents. Alterations to drug formulation offer one option, in part by utilizing distinct transport modes; another is invasive or non-invasive strategies to bypass the BBB. An emerging non-invasive technology for targeted drug delivery is focused ultrasound that allows for the safe and reversible disruption of the BBB. We discuss the underlying mechanisms and provide an outlook, emphasizing the need for more research into the NVU and investment in innovative technologies to overcome the BBB for drug delivery.

(Invited) Recent Advances in Electrocatalysts for the Oxygen Reduction Reaction Comprising a Hierarchical Graphene-Based “Core” and a Carbon Nitride “Shell” with a Low Loading of Platinum

The paradigm shift in today’s energy harnessing, distribution and utilization is leading to massive investments in innovative technologies, that include electrochemical energy conversion and storage systems (EECS) [1, 2]. The latter exhibit a number of very attractive features, that include negligible emissions of greenhouse gases at the point of operation, a facile scalability and the independence from geographical constrains. Furthermore, EECS are typically characterized by a very high efficiency, as they are not constrained by the limits associated to Carnot’s engines [3]. A broad range of EECS are available, each well-suited for a particular family of applications. In this panorama, the incidence and relevance of proton-exchange membrane fuel cells (PEMFCs) is progressively rising. State-of-the-art PEMFCs have exited the research laboratories and are currently implemented in early products, that include both stationary systems (e.g., power plants for “zero-emission” houses) and light-duty vehicles. Despite these successes, PEMFCs still suffer from several drawbacks. In particular: (i) the performance and the durability of the functional materials involved in PEMFC operation must be increased to match the requirements set by the applications; and (ii) at the same time, the costs must be curtailed to warrant a large-scale market penetration of PEMFCs and leverage the latter’s advantages over competing traditional technologies. One key issue affecting both development areas is the electrocatalyst (EC) that promotes the oxygen reduction reaction (ORR) at the PEMFC cathode. Indeed, to bestow the PEMFC a sufficient performance and durability, state-of-the-art ECs for the ORR must include a very high loading of platinum. Thus, to mitigate the risk to incur in supply bottlenecks [4], new and improved ECs with a low-loading of Pt (“low-Pt”) must be developed. An innovative approach to obtain advanced low-Pt ECs for the ORR exhibiting a performance and durability beyond the state of the art is to devise systems where the active sites are located on the surface of PtMx sub-nanometric clusters (SNCs). PtMx are alloys between Pt and a first-row transition metal (e.g., Ni, Cu), that acts as a “co-catalyst” and promotes the intrinsic ORR kinetics reaching levels that are well beyond the Pt baseline [5]. SNCs offer important advantages over the Pt nanoparticles (NPs) used in conventional ECs for the ORR. In particular, with respect to Pt NPs, in SNCs the utilization of Pt atoms is raised by up to ca. one order of magnitude. This allows for the maximization of the Pt availability for electrocatalytic purposes. Hence, the PEMFCs mounting the low-Pt ECs comprising the SNCs can achieve a specific power that is significantly larger than the 8 kW/gPt target set by the DoE for 2020 [6]. In the proposed ECs the SNCs are located on the surface of a support that exhibits unique features. In detail, the support is based on a “core” consisting of a combination of highly defected graphene nanoplatelets and carbon black NPs [7]. Such hierarchical graphene-based (H-GR) “core” is covered by a carbon nitride (CN) “shell”, that is able to stabilize effectively the SNCs by means of “coordination nests” consisting of C- and N- ligands. The present contribution compares the proposed low-Pt ECs with the state of the art and overviews the complex correlations that are established between: the physicochemical properties of the low-Pt ECs (e.g., chemical composition, morphology and structure of both the active sites and of the support); the electrochemical performance, the reaction mechanism and the durability in the ORR; and finally the characteristic curve of the PEMFC mounting the proposed ECs as tested in operating conditions. The information thus obtained is then used to identify the most promising research approaches to pursue in order to devise next-generation low-Pt ORR ECs able to comply with the stringent requirements of tomorrow’s PEMFCs. Acknowledgement This project has received funding from the European Union's Horizon 2020 research and innovation programme under grant agreement No 785219, and from the BIRD 2018 program of UNIPD. Figure 1

Success factors model for green computing implementations

Green computing is quickly rising to the top of the agenda of many organizations. Surveys of the green computing implementations practices in United Arab Emirates (UAE) reveal the awareness level with respect to green computing practices to be 41.23 per cent. This article presents a model that provides IT decision-makers with a set of recommended actions on the implementation of green computing practices. The model is validated empirically through interviews of IT staff from eleven organizations in UAE. The intervention suggests that to reduce the carbon footprint and to become energy efficient, organizations would need to apply policies on printing, procurement and recycling. Implementation of policies is driven by budget allocations for the better utilization of existing IT equipment and for investment in innovative technologies. In addition, this study recommends that organizations encourage a green computing attitude through increased awareness, certifications, penalties or reward systems. The findings of the study are expected to be of great interest to both researchers and IT practitioners.

Economic Cooperation of Russia and Greece during the Sanction Restrictions period and the Policies to Strengthen the Integration Process

1. Introduction The economic cooperation between Russia and European Union Member States is characterized not only by a close interdependence due to their history and geographical proximity, but also by opposition of their international positions, impeding implementation of mutual economic interests because of a tense political situation in recent years. Intensive integration processes in Europe, observed since establishment of European Union, are displaced by centrifugal processes in recent years. Though, European Union is still most successful monetary integration with population of about 510 million people (as for January 2016) (5). The Russian Federation, in its turn, carries out international integration policy through implementation of Eurasian Economic Community and creation of initiatives to strengthen cooperation with Asian countries and Arab States. However, mutual sanctions, operating more than two years, are not conducive to mutual beneficial cooperation and set a negative vector of development. The Hellenic Republic, as a member of EU, has to adhere to a common foreign policy of association. Despite fact that Greece is a sovereign country (Thalassinos et cd., 2006; Thalassinos et cd., 2015a; Thalassinos et ed., 2015b; Thalassinos and Stamatopoulos 2015; Thalassinos, 2008) right to conduct a multifaceted foreign policy and to play a geopolitical role is restricted by a huge debt to external creditors. But, realizing lack of prospects for further trade and economic confrontation, its leaders are increasingly in favor of stopping sanctions and cooperation with Russian state. This fundamental position of Greek government on issue of cooperation with Russia is due to inextricable links of two countries in historical, spiritual, economic and social spheres over centuries. Relations between Russia and Greece have always been friendly and mutually beneficial; this is primarily due to lack of fundamental differences between two countries. They were united and are still united by common historical memory and cultural heritage, which stimulates initiatives both from Russian and from Greece. Special role in Russian-Greek relations have played development of direct links with Black Sea regions of Russia -these are places of residence of representatives of Greek Diaspora. Greece occupies a special position in Russian foreign policy and according to Russian Foreign Minister Sergey Lavrov in world, as he says, there are few other countries, that are so closely related as Russia and Greece, with such a long history of sincere friendship (6). In addition Greece is only NATO country to actively develop military-technical cooperation with Russia. Year 2016 is a cross-year for Russian-Hellenic culture and heritage and as Prime Minister of Greece A. Tsipras characterized his visit to Russia as the beginning of a new spring in relations between Athens and Moscow. In May 2016 a joint declaration for an effective Government Partnership between two countries was signed. It declares modernization, according to which willingness to contribute to creation and promotion on market of modern competitive products and encouraging mutual investments in innovative technologies, elimination of barriers and constraints to free and cost-effective sharing of results with activities, improving business environment in a fair, prompt and constructive dialogue between business communities and public authorities of two countries. Also a memorandum of understanding on inter-regional cooperation between Russian Ministry of Economic Development and Ministry of Foreign Affairs of Greece was adopted. The parties signed a road map of Russian-Greek relations in field of agriculture, adopting a tourism program of mutual actions for next three years, including contributing to speedy changes from agreement signed in May 25, 2006 between Russian Federation and European Community on facilitation of visas issuance to citizens of these countries, promoting dialogue on establishing visa-free travel for them. …

Membrane-based zero liquid discharge: Myth or reality?

Abstract The environmental impacts of brine disposal from seawater desalination plants and wastewater treatment plants represent a subject of growing concern; thus, determining the potential applicability of zero liquid discharge (ZLD) for water treatment is crucial. Membrane-based technologies are a potentially attractive strategy that can be used to reach this goal. Recent studies have highlighted that integrating a series of membrane processes is a viable approach to achieving ZLD for industrial use. However, a relatively limited number of reports have been published on the challenging problems encountered with ZLD approaches. Here, we provide a review of membrane processes that may be used in ZLD approaches and describe their problems as well as potential solutions and innovative technologies for improving their performance. Furthermore, the energy consumption of the different approaches is calculated and analyzed because it represents a major contributor to the total cost, and investments in innovative technologies are discussed. Finally, the prospects for membrane-based ZLD and further research are highlighted.

HCV novel therapeutic regimens in Wonderland: A budget impact analysis in the Lombardy Region

BackgroundThe advent of new HCV drugs has generated widespread economic concerns, particularly within the Italian setting, characterized by continuous linear cuts and spending review actions. The overall trade-off between investments and savings needs an in depth analysis. AimsThe study aimed to estimate the budget impact of the introduction of the novel drugs approved during the year 2015, compared with the historical situation based on the different treatment options available prior to 2015. MethodsA three-year budget impact model was developed, taking into consideration the Lombardy Region (Northern Italy) Health Service perspective. The degree of liver fibrosis, genotypes, presence of only HCV or HIV/HCV co-infections, presence or absence of sustained virological response, and direct healthcare total costs were the variables of the model. ResultsWith the introduction of the novel regimens, a higher number of HCV patients achieved a sustained virological response (+20%). Further analysis showed that an investment in innovative technologies would have given the Regional System significant economic savings within the 36-month period (−6.64%/−7.15%). ConclusionsTreating HCV-infected persons in the Lombardy Region with the new drugs would reduce healthcare expenditure on this specific disease, in each forecast implemented, thus reducing the economic burden of the pathology.

Factors that Influence the Effectiveness of Russian Telecommunication Companies

(ProQuest: ... denotes non-US-ASCII text omitted.)(ProQuest: ... denotes formulae omitted.)IntroductionMobile telecommunications bears the immense importance in the economy, as it can enhance development and functioning of other sectors. The introduction of telecommunication systems can dramatically improve productivity on mobile objects, save material and human resources, to provide automated control of technological processes, create a reliable vehicle control systems or mobile robots, distributed over a large area and are part of the flexible automated control systems.It is not surprising, that mobile telecommunication market was one of the most profitable and fastest growing segments of the telecommunications market in Russia. Revenues of mobile operators were increasing, even in times of economic crisis.Given the growing influence of the telecommunications industry in the economic development of Russia and the increasing complexity of the global external environment, we consider important to study the factors that influence efficiency of main Russian telecommunications companies.The factors that influence productivity in telecommunication industry described in the literature most often concern the effects of capital investments in physical capital (towers, routers, computers, and fixed lines), investment in innovative technologies (software logic) and management practices (Hammond and Michaels, 2009; Sabat, 2002, 2005). These capital investments among other may influence productivity (Gruber, 2001), profitability (Futia, 1980; Zahra and Covin, 1993), and price recovery in the case of high competition (Laursen and Meliciani, 2002).The results on the impact of capital investment on productivity and profitability are mixed. On one hand, in competitive environment investments in technology of one firm are subject to imitation and innovations by other players, which creates so called Red Queen effect and reduces the effect of investments on profitability and competitive advantage of the first investing firm (Barnett and McKendrick, 2004; Walker et al., 2002). On the other hand, Banker (2013) found out, that the association of investment and profitability is positive in the future (after six quarters).The purpose of this paper is to identify the factors that determine the effectiveness of the telecommunications companies, and to determine the extent of their influence. We employ the data from State Statistics Committee database, open source (analytical sites and portals), reports and websites of telecommunication companies, surveys of market participants to investigate the factors influencing effectiveness of three leaders of the mobile telecommunication market - MTS, MegaFon and VimpelCom holding in aggregate more than 80% of the market share. We concentrate on the time span from 2005 through 2013.The paper is structured as follows. First section provides short literature review on the effects of capital investments on productivity, profitability, and price recovery. Then we describe telecommunication market in Russia and characteristics of major competitors. We continue with describing our data and model. The next section states our results and interpretation. The last section closes the paper and presents the overall conclusions and policy implications.1. Literature reviewThe factors that influence productivity in telecommunication industry described in the literature most often concern the effects of capital investments in physical capital (towers, routers, computers, and fixed lines), investment in innovative technologies (software logic) and management practices (Hammond and Michaels, 2009; Sabat, 2002, 2005; or Krejci et al., 2015). These capital investments among other may influence productivity (Gruber, 2001), profitability (Futia, 1980; Zahra and Covin, 1993; or Ehrenberger et al., 2015), and price recovery in the case of high competition (Laursen and Meliciani, 2002). …

Investment, technical change and efficiency: empirical evidence from German dairy production

This empirical study aims to shed light on the dynamic linkages between innovation, efficiency and productivity at the individual farm level. We use a comprehensive dataset for dairy farms in Germany for the period 1996–2010. Based on a directional distance frontier framework and the Luenberger index, we estimate the changes in efficiency, technical change and productivity over the period considered and simultaneously investigate possible factors for technically efficient milk production at farm level. We find that investments in innovative technology indeed increase the productivity of dairy production by shifting out the production frontier. Our findings further imply that investments in innovative dairy technologies require a sufficient level of complementary education to trigger also an increase in efficiency at farm level. The quality of human capital in terms of educational training seems finally crucial for a lasting increase in efficiency as a result of innovation.

Intravenous Infusion Safety Technology: Return on Investment

Purpose In 2006 the Institute of Medicine reported that at least 400,000 preventable adverse drug events (ADEs) occur annually among patients being hospitalized, with costs of $3.5 billion (or $8,750 per preventable ADE). Recommended medication error prevention technologies include computerized prescriber order entry, bar-code medication administration, and computerized intravenous (IV) safety systems with dose-error reduction software. When St. Joseph's/Candler Health System replaced its existing IV pumps, the decision to incur the incremental cost for “smart” IV safety systems rather than traditional IV pumps resulted in financial benefits, improved safety, improved quality of care, and increased nursing satisfaction. Methods Electronic data recorded at the bedside as caregivers administered medications provided information from which actual cost avoidance could be more readily calculated and presented objective evidence of the fiscal value of investments in innovative technologies. Results Over a 5-year period, implementation of these smart systems reduced high-risk medication errors and patient-controlled analgesia-related undesired outcomes, helped avert at least 471 preventable ADEs, and provided a 5-year return on investment (ROI) of $1.87 million, with an internal rate of return of 81%. Conclusion Financial analysis of the incremental costs of IV safety systems can help calculate anticipated ROI accurately and better prioritize implementation of these systems.