Number Of New Products Research Articles

Cosmeceuticals: A Newly Expanding Industry in South Africa

Africa is counted amongst the cosmetic market contributors; however, South Africa’s remarkable plant diversity is still largely untapped in terms of its potential for medicinal and cosmetic purposes. Thus, we aim to provide a critical assessment of the advancements made in South African cosmeceuticals with emphasis towards online local companies/brands that are manufactured by small, medium and micro enterprises (SMMEs). For the current study, we limited our search of herbal cosmeceutical products to SMMEs with online websites, or products traded in other online cosmetic directories such as ‘Faithful to Nature’ and ‘African Botanicals’ using a simple Google search. We recorded more than 50 South African SMME companies/brands involved in the trade of cosmeceuticals. Skin and hair care were the major product categories widely traded in these online platforms. Furthermore, few patents were recorded from South African researchers and institutions thereof, which is quite alarming considering the extensive research that has been undertaken to study these commercially valuable plants. Based on the increasing number of new products and the wide pool of economically important plants coupled to their associated rich indigenous knowledge systems, the cosmeceutical sector can contribute to the economy, job creation, entrepreneurship skills, socio-economic development and intellectual property generation.

Soft but Strong: Software-Based Innovation and Product Differentiation in the IT Hardware Industry

It has been argued in recent years that software is a significant value-creating factor within the manufacturing sector, leading to an increased interest in understanding the mechanisms by which firms may benefit from software-based innovation. Empirical work in evaluating these mechanisms, however, remains underdeveloped. In this paper, we examine one such process through which software-based innovation may provide value for information technology hardware firms in the U.S. Specifically, we examine the influence of software patents on the extent to which firms are able to benefit from product differentiation in their product markets. Using data on over 380,000 patent grants for innovations filed by 730 public IT hardware firms over the time period 1996-2015, we find that greater levels of software-based innovation within the firm are associated with higher levels of product differentiation in product markets: increases in the intensity of software patents within the firm’s patent stock, which we refer to as software intensity, are associated with lower total similarity of product offerings, relative to those offered by rivals, as well as fewer effective competitors in the market. Furthermore, using a different dataset consisting of 23,000 new IT hardware product announcements, we show that firms with greater software intensity subsequently launch a higher number of new products. Moreover, these firms are more likely to launch products that are not only differentiated from those of rivals but also distinct from their own product lines. Our research contributes to the emerging literature on software-based innovation by substantiating an important mechanism through which software helps transform industry sectors, specifically through product differentiation.

Changes in Drug Listing Trends after the Reform of the Off-patent Pharmaceutical Pricing System in National Health Insurance

In July 2020, the off-patent pharmaceutical price system in Korea was revised from a ‘same ingredient, same price’ principal to a ‘differentiated price’ principal, to accord with requirements met at the time of marketing authorization. This Short Report examined changes in the listing patterns of generic drugs following this policy change using the Pharmaceutical Reimbursement List and Price Table from July 2018 to October 2021. Following the revision, we observed that the number of new products listed on the table had been dropped. The monthly average number of new products was 440 prior to the revision and 84 after the revision. Two case analyses showed that this differentiated pricing system provides less motivation for generic manufactures to participate in the market after first-mover generic products have already been listed. This study reports the latest trends following this policy reform and provides baseline evidence for future policy evaluation.

Shotgun Lipidomic Analysis for Differentiation of Niche Cold Pressed Oils.

The fast-growing food industry is bringing significant number of new products to the market. To protect consumers’ health and rights, it is crucial that food control laboratories are able to ensure reliable quality testing, including product authentication and detection of adulterations. In our study, we applied a fast and eco-friendly method based on shotgun-lipidomic mass spectrometry for the authentication of niche edible oils. Comprehensive lipid profiles of camelina (CA), flax (FL) and hemp (HP) seed oils were obtained. With the aid of principal component analysis (PCA), it was possible to detect and distinguish each of them based on their lipid profiles. Lipidomic markers characteristic ofthe oils were also identified, which can be used as targets and expedite development of new multiplexed testing methods.

International and domestic external knowledge in the innovation performance of firms from transition economies: The role of institutions

In this study, we analyze how the acquisition of domestic and international external knowledge contributes to the innovation performance of firms in transition economies and how the institutional conditions of the home country may affect these relations. We test our hypotheses via the responses of 645 firms from 18 Central and Eastern European countries. Our findings show that both external knowledge sources—domestic and international—contribute positively to the number of new products in transition economies. Our results also indicate that a country's governance imperfections positively moderate the relations between both domestic and international external knowledge and the number of new products. Additionally, our findings highlight that the benefits of international external knowledge for product innovation are greater in contexts with weaker institutional conditions than in environments with stronger institutional conditions. In contrast, the benefits of domestic external knowledge for product innovation do not vary substantially between scenarios with stronger institutional conditions and those with weaker ones. These findings lead us to conclude that the institutional conditions of transition economies moderate the relation between domestic and international external knowledge and innovation performance differently, with international external knowledge proving particularly valuable for product innovation when these conditions are weak.

Perilaku Konsumen Produk Lipcream Wardah (Studi Pada Mahasiswi Fakultas Ekonomi dan Bisnis Universitas Jember Kampus Bondowoso)

Women and cosmetics are inseparable, nowadays. This condition is also responded positively by cosmetic companies ranging from new product innovations to price promotions. The number of new products certainly has its assessment for regular customers. This research focuses on the Faculty of Economics and Business students at the University of Jember in Jember and Bondowoso. This study examines the effect of halal certificate, prices, and brand image on consumer loyalty to Wardah’s lip cream products which have won top brand awards for the last three years. The study uses linear regression analysis and SPSS 25 software. The research findings reveal that the halal label variable does not affect consumer’s loyalty. Price and brand image variables has significant positive effects on consumer’s loyalty.

Towards Sustainable Innovation in the Bakery Sector—An Example of Fibre-Enriched Bread

This study aimed to examine the drivers and types of sustainable product innovations undertaken in bakeries with a particular focus on fibre-enriched bread. This type of bread contributes to a healthy diet due to its increased content of dietary fibre, which is an essential but deficient component of the diet, especially in modern consumption patterns in affluent countries. The study was carried out using the Computer Assisted Telephone Interview (CATI) method on a sample of 402 companies operating in the Polish baking industry. Multiple correspondence analysis (MCA) using Burt tables was used to analyse the results. Four groups of companies were identified according to the number of new products introduced to the market: non-innovative, poorly innovative, moderately innovative, and sustainable innovative companies. The results show that the development of a “new formula” was the most frequently mentioned type of innovation in all groups of companies. Other types of product innovation were also identified among the highly innovative companies: a new product for the company, a new product for the consumer, and new packaging. The basic motivation for launching innovative products on the market was to follow new trends and meet consumer expectations. Therefore, the results indicate that a consumer approach to innovation prevailed. The surveyed bakeries perceived fibre-enriched bread as a product with high nutritional value and environmental benefits. Our results contribute to a better understanding of the drivers of sustainable innovation in the food industry and have some practical implications for bakery companies seeking competitive drivers based on sustainable innovation. The study showed that capturing the voice of the customer is important in developing product innovations in bakeries. A consumer-oriented strategy is a win-win strategy, as it will result in an increased range of products suitable for a healthy sustainable diet and environmental benefits using fibre waste from food processing.

Learning from the Joneses: Technology spillover, innovation externality, and stock returns

This paper provides empirical evidence for the role of technology spillover, an important innovation externality, in asset pricing. Using patent and R&D data, I show that firms with more technology spillover earn 7.7% higher annualized returns than firms with less technology spillover. Exploiting three quasi-natural experiments, I find that the return effect is strengthened (attenuated) when there is a plausibly exogenous increase (decrease) in the flow of technological information across firms. I also find that firms with more technology spillover have higher cash flow sensitivity to aggregate consumption, numbers of new products, and stock return synchronicity. These findings are consistent with models on learning about new technology; specifically, spillover enables learning about new technology to facilitate timely and large-scale adoption of new technology, which in turn exposes spillover recipients to additional systematic risk. These findings highlight the influence of innovation externality on stock returns.

P/B Ratio to Stock Price and Correlation Analysis of Other Financial Indicators

In recent years, the stock market of Mongolia has become more active than ever with increased number of IPOs and SPOs and addition of number of new products in the market. With the objectives to determine and estimate the relations between P/B ratio to stock rates and other financial indicators. We have conducted the research and analyzed the 2007-2020 trading reports, the dividends distribution, and the financial reports of 42 companies with active trading lists on the Mongolian Stock Exchange identified as I and II classification stocks. We have selected the indicators such as, the size of company, dividend payout ratio, return on assets, return on equity, earnings per share, growth of earnings after taxes to be identified as other financial indicators and we have finalized the estimation. According to the results of regressive analysis, based on 565 monitoring data of 42 companies, the indicators such as, return on assets, return on equity, earnings per share have shown direct correlation to the stock rates; however, other indicators have shown no correlation at all. Thus, further studies on the non-financial factors that have impacts on P/B ratio of stock rates have to be done thoroughly by researchers and analysts.

Augmentation of effectiveness of new product development through social media: an empirical validation

The world is changing dramatically. These changes can be witnessed in different macro-environmental factors. Organisations are also witnessing a constant change in their business environment. In such high volatile environment, business firms need to innovate and change themselves. Therefore, it becomes vital for firms to adjust and alter their offerings to keep pace with the changes. New product development (NPD) is the lifeblood for any firm and their success contributes towards profitability and growth. New products are not only crucial for the profitability of any firm but also provide a competitive edge. However, only a small percentage of new products become successful in comparison to the number of new products introduced in the market. This portrays that the users are unwilling to accept the new products. Therefore, there lies a strong need to involve and inculcate the viewpoints of customers while designing a product so that they are not mere receivers of products but also active participants in the creation of products. Further, as per this study, the involvement of other vital elements such as the sales department, R&D department and the company level drivers play a critical role in the success of a new product.

Innovativeness of Family Businesses in Slovenia: Do Heirs follow the Founders?

Abstract Background: The innovativeness of founders and their heirs and family businesses (FBs) is a relatively unexplored field of research, and its understanding is incomplete and inconsistent. Objectives: The goal is to compare the founders’ innovativeness and investigate the relationship of life-long learning with the innovativeness of heirs in FBs. Methods/Approach: The paper is based on research, including a survey on FBs in Slovenia. The differences in the innovativeness of the two groups – founders and heirs are compared, and the strength of the dependence of the life-long learning and innovativeness through the external training of heirs determined. Results: The innovativeness of founders and heirs in FBs, measured by the number of new product and service lines and by the number of new processes that founders and heirs in FBs have developed or started marketing in the last five years, shows higher results for the founders. Life-long learning through external training correlates positively with the innovativeness of heirs. Conclusions: An appropriate culture for innovation needs to be created in FBs to foster innovativeness among heirs, which can be supported by life-long learning.

Designing a new mathematical model for optimising a multi-product RFID-based closed-loop food supply chain with a green entrepreneurial orientation

PurposeEnvironmental awareness is increasing among people in developing countries. In this regard, companies should consider ecological goals in addition to financial goals. Since the food industry is recognised as one of the largest emitters of CO2, profit and ecological objectives are optimised in radio-frequency identification (RFID) based closed-loop supply chain in the food industry in this paper.Design/methodology/approachBased on the literature, companies with a green entrepreneurial orientation (GEO) can turn ecological problems into opportunities using their proactiveness. In this regard, a new mixed-integer non-linear mathematical model is presented for optimising a new multi-product RFID-based closed-loop supply chain with a GEO in the food industry. The case study in this paper is Ofogh-e Kourosh company which is located in Iran. The GAMS software is used to code this model.FindingsThe optimum number of new products and materials flow was found among the closed-loop supply chain entities. Some factors as price, quality and warranty of products were considered, and the number of reopening of facilities if needed was set. The optimum node for RFID installation was found.Originality/valueThe paper presents a multi-objective mathematical model for optimising a multi-product RFID-based closed-loop supply chain with a GEO in the food industry. In addition, this paper gives insights into how can model this type of supply chain considering ecological and financial attributes.

Le Role des pratiques de GRH sur la performance organisationnelle: l'apport du modèle universaliste

Human resource management (HRM) practices influence HR results. This is about both the motivation and the skills of the employees. These two variables, in turn, are likely to affect productivity, quality, service, safety, innovation as well as other operational results and, consequently, on the performance of companies. In this regard, the objective of this research is to examine the impact of HRM practices on the organizational performance of Moroccan small and medium-sized enterprises (SMEs). Through a rigorous literature review, we have developed three main hypotheses relating to the link between HR practices (recruitment, remuneration and employee involvement) and business performance (sales growth, customer satisfaction, number of new products, market share), and a research model based on the universalist approach. To operationalize the latter, we administered around a hundred questionnaires to HR managers of small and medium-sized companies in the Fes-Meknes region. The results from logistic regression analyze show a positive relationship between certain HR practices and organizational performance. The conclusions also make it clear that companies stand out clearly from others in terms of HRM. In addition, companies with more individualized compensation systems set recruitment objectives that are appropriate to the overall strategy and promote employee involvement that can positively influence organizational performance. The article concludes that the HRM practices studied have such an effect on the organizational efficiency of Moroccan small and medium-sized enterprises in the Fez-Meknes region. JEL Classification : O15 Paper type: Empirical research

On the evolution of comparative advantage: Path-dependent versus path-defying changes

A country’s specialization evolves over time in a dynamic process, with shifts in comparative advantages, resulting in new products being added to the country’s export basket. According to the renowned Product Space (PS) framework (Hausmann and Klinger, 2007; Hidalgo et al., 2007), this dynamic process is characterized by strong path dependence, as a country’s current production capabilities (technologies, production factors, institutions, etc.) determine what a country produces today, but also limits what it can produce tomorrow. We use a novel methodology to explore whether the patterns of specialization of a large sample of countries for the period 1995–2015 correspond to the predictions of the PS framework. Despite finding evidence of path dependence, our analysis also finds that a significant number of new products later added to countries’ export baskets were unrelated to their initial specialization pattern. We shed light on the determinants of these path-dependent changes in countries’ export baskets and show that economic growth is weaker in countries with a higher degree of path dependence.

Corporate and Functional-level Performance Feedback in New Product Development

In this study, we add new insights in the performance feedback theory by arguing that although organizations give primacy to feedback regarding corporate-level financial goals, they also have to attend to a variety of functional-level performance signals to identify more suitable solutions and better adjust their behavior. However, due to the multiplicity of functional goals, we build on Gestalt theory to suggest that firms may use two key properties of functional performance feedback (i.e., simplicity and predictability) to guide their problemistic search and effectively select behavioral responses. In a longitudinal sample of 97 global incumbent pharmaceutical firms, we find that a simpler and more predictable set of functional performance signals strengthens the relationship between poor financial performance and the number of new products that firms initiate.

Corporate- and Functional-level Performance Feedback in New Product Development

In this study, we add new insights in the performance feedback theory by arguing that although organizations give primacy to feedback regarding corporate-level financial goals, they also have to attend to a variety of functional-level performance signals to identify more suitable solutions and better adjust their behavior. However, due to the multiplicity of functional goals, we build on Gestalt theory to suggest that firms may use two key properties of functional performance feedback (i.e., simplicity and predictability) to guide their problemistic search and effectively select behavioral responses. In a longitudinal sample of 97 global incumbent pharmaceutical firms, we find that a simpler and more predictable set of functional performance signals strengthens the relationship between poor financial performance and the number of new products that firms initiate.

Participance of Ukraine and Eastern European countries in global value chains

The aim of the study. The aim of the article is to determine the role of Eastern European countries, including Ukraine, in global value chains and to form a list of potential areas for diversification of exports of the analyzed countries. Methods. In our research general scientific methods like system approach, analysis, synthesis, generalization, comparison were used. Also we used time series analysis, graphical method for visualization of research results. Results of the research. The article analyzes the activity of participation of Eastern European countries in global value chains. It is established that analyzed countries have a significant potential for export diversification, but their current share at global market does not exceed 3%. It is proposed to estimate export flows using indicators of economic complexity and diversity rate. The dynamics of economic complexity index was analyzed. It is found that the level of economic complexity in Ukraine is the lowest among analyzed countries with a tendency to decrease. The new export positions of each country were analyzed. It was pointed out that Ukraine introduced the largest number of new products, but the volume of export is the lowest among selected countries. An estimation of trade flows between analyzed countries and some global players was carried out. It was established that trade activity between Poland, Czech Republic and Slovakia was stronger than their trade with Ukraine. It has also been proven that the main trading partners of Eastern Europe are located within the European Union. Perspective directions of export diversification of selected countries were singled out and opportunities of cooperation between them are defined. It is established that Ukrainian companies need the support to increase the profitability of participation in global value chains and gain additional opportunities to present their products on the world market. Practical meaning. The results of the study can be used by economic entities for determining the most perspective export areas, by public authorities to monitor the effects of export diversification and to assess the effectiveness of reorientation of domestic enterprises. Prospects for further research. The obtained results are the basis for modeling and forecasting the consequences of the state policy of export diversification of Ukraine and estimating efficiency of such policies.

Virtual currency as an object of financial monitoring: taking into account the experience of foreign countriesin the formation of national legislation

Problem setting. On April 28, 2020, the Law of Ukraine “On Prevention and Counteraction to Legalization (Laundering) of Proceeds from Crime, Financing of Terrorism and Financing of the Proliferation of Weapons of Mass Destruction” came into force, which expands the range of state financial monitoring entities a new category of subjects of primary financial monitoring – providers of services, related to the circulation of virtual assets. The space of virtual currencies has expanded to include a number of new products and services, activities and interactions. In turn, the rapid development, growing recognition and global nature of products and services based on virtual currency have increased the risks of using such a financial asset to legalize illicit income. Contributing to this fact that payment products and services based on virtual currency do not recognize borders and transactions with them can be carried out without any apparent link to a particular jurisdiction. Therefore, the financial system of any state can be used to legalize (launder) proceeds of crime. This issue is extremely important for Ukraine, because the state of this problem is at a low level, and the issue of its solution is only being raised. The purpose of the research. Research of the approaches that some countries are currently using, and some are going to apply in the near future, in the field of regulation of payment products and services based on virtual currency as an object of financial monitoring in order to take them into account when developing national legislation in this area. Analysis of resent researches and publications. The problem of virtual currency as a new means of payment, its functionality and types were studied in the works of domestic scientists – M. Kucheryavenko, A. Kud, E. Smychok, A. Ovcharenko, O. Glushchenko, S. Khvalinsky and foreign – Fredrik Schneider, E. Gots. But the author of the article draws attention to a separate aspect of this problem - the legal uncertainty and unregulated implementation of transactions with virtual currency in legal relations in the field of financial monitoring. Article’s main body. Having analyzed the experience of foreign countries in the formation of national legislation, we consider it possible to offer the following recommendations for regulating financial monitoring, where the object is virtual currency: 1) registration in a special body of service providers related to virtual assets, both national and foreign origin; 2) conducting activities by the national financial monitoring service (seminars, lectures, webinars, issue of reports, collections of cases, etc.) on illegal use of crypto-assets, both among the subjects of primary financial monitoring and among individuals and legal entities whose activities are not associated with virtual currency in order to eliminate financial illiteracy; 3) licensing of activities; 4) creation of a separate department in the structure of the financial monitoring service for supervision and control of providers of services in the field of virtual currency, which would evaluate programs, business plans of such providers in order to prevent neutralization of risks in the field of virtual assets, combating money laundering; 5) the obligation directly to the providers of virtual services to periodically provide reports on the risks that exist in their activities; 6) differentiation of services with virtual assets depending on the subject or object of the service itself: services in the field of money transfer, services in the field of securities, services in the field of exchange goods and derivatives and development of typology and risk indicators for each area ; 7) establishing close cooperation between state national authorities on the exchange of any information related to the implementation of activities in the field of virtual currency. Conclusions. The article, based on a study of the approaches used by some countries in the field of regulation of payment products and services based on virtual currency as an object of financial monitoring, provides suggestions for their application in national legislation. The experience of regulatory supervision over the use of virtual currencies in the field of financial monitoring is studied on the example of Italy, USA, Norway, Japan, Sweden, Mexico, Finland and the most effective measures are singled out. The focus is on the cross-border nature of virtual currency transactions as an object of financial monitoring and ways to track them.

Probing Product Description Generation via Posterior Distillation

In product description generation (PDG), the user-cared aspect is critical for the recommendation system, which can not only improve user's experiences but also obtain more clicks. High-quality customer reviews can be considered as an ideal source to mine user-cared aspects. However, in reality, a large number of new products (known as long-tailed commodities) cannot gather sufficient amount of customer reviews, which brings a big challenge in the product description generation task. Existing works tend to generate the product description solely based on item information, i.e., product attributes or title words, which leads to tedious contents and cannot attract customers effectively. To tackle this problem, we propose an adaptive posterior network based on Transformer architecture that can utilize user-cared information from customer reviews. Specifically, we first extend the self-attentive Transformer encoder to encode product titles and attributes. Then, we apply an adaptive posterior distillation module to utilize useful review information, which integrates user-cared aspects to the generation process. Finally, we apply a Transformer-based decoding phase with copy mechanism to automatically generate the product description. Besides, we also collect a large-scare Chinese product description dataset to support our work and further research in this field. Experimental results show that our model is superior to traditional generative models in both automatic indicators and human evaluation.

Firm-level innovation and efficiency in the food sector: Insights from a literature-based innovation output indicator

ABSTRACT Innovation activity is commonly regarded as one prerequisite for the competitiveness of food manufacturers. However, new product introductions typically face a high failure rate, which frequently deprives food manufacturers of returns on new product developments. Accordingly, existing empirical evidence on the effect of innovation activity on firm performance is not unanimous in the food sector. In this study, we explore contemporaneous and lagged effects of product and process innovation on production efficiency of dairy processors in the German market. Endogeneity of innovation variables and production inputs is accounted for by instrumentation using a System GMM approach. While we find no positive effect of patents or the number of new product launches on efficiency, we find a consistent positive effect of successful new products on the dairy processors’ technical efficiency. On the methodological side, our results confirm the relevance of the literature-based innovation output indicator as a differentiated measure of product innovation suitable for measuring the innovation effect on firm performance. Regarding innovation management in the food sector, the results highlight the challenge related to high failure rates of new products in the food sector and emphasize the importance of new product quality for business performance.