Real Enterprise Research Articles

MODELING OF INTELLECTUAL TECHNOLOGY FOR CALCULATING THE INTEGRAL INDICATOR OF COMPETITIVENESS OF AN E-COMMERCE ENTERPRISE

The use of modern achievements of scientific and technological progress is crucial in building information systems and implementing information technologies. Recently, artificial neural networks have been used to solve several data classification and clustering tasks, which allow achieving extraordinary accuracy. The availability of a large number of software and hardware tools for creating and training artificial neural networks, as well as the ability to use a large amount of data (including data from real enterprises) to train networks on it, allows you to quickly build effective models for solving various problems, including economic ones. In today's conditions, tracking and calculating the dynamics of the integral indicator of competitiveness of an e-commerce enterprise is one of the main indicators of the state of the enterprise in the economic space of the state. Accordingly, to calculate and model situations related to the calculation of the dynamics of the integral indicator of competitiveness of an e-commerce enterprise, it is worth applying neural network models for processing and analyzing a large amount of data. This approach allows optimizing enterprise management processes, increasing the personalization of service and ensuring effective interaction with customers, etc. The considered convolutional neural network has such special properties as self-organization, the ability to learn in the process of work, generalization, simulation of processes and phenomena, including nonlinear ones, formation of complex dependencies in the space of diagnostic events, efficiency of work with high-dimensional features, which determine the expediency of their use for solving forecasting problems, in particular, calculation and modeling of situations related to the calculation of the dynamics of the integral indicator of competitiveness of an e-commerce enterprise.

The impact of the "Belt and Road" initiative on the financialization of enterprises

In this paper, the implementation of the "Belt and Road" initiative is taken as a quasi-natural experiment under the background of the economy "moving from real to virtual". Using the data of Shanghai and Shenzhen stock markets from 2009 to 2020, this paper examines the impact of the Belt and Road Initiative on corporate financialization through the DID model, and conducts the corresponding robustness test. Findings: The Belt and Road Initiative significantly inhibits the financialization level of the target enterprises. Further research shows that the inhibition effect is more obvious in non-state-owned enterprises and enterprises with weak market competitiveness. The research in this paper shows that the "Belt and Road" Initiative plays an important role in guiding real enterprises to "get rid of virtual and return to real", and the research conclusion provides a new perspective for understanding the construction of the "Belt and Road" initiative.

ЗАСТОСУВАННЯ МОДЕЛЕЙ КЕЙНСІАНСЬКОГО ТА НЕОКЛАСИЧНОГО ТИПУ ДЛЯ МОДЕЛЮВАННЯ ЕКОНОМІКО-ВИРОБНИЧИХ ПРОЦЕСІВ ПІДПРИЄМСТВ

The possibilities of applying macroeconomic models to model microeconomic processes under the economic conditions of using these models were investigated in this article. In a closed-type circular economy with homogeneous product production, the application of these macro models becomes possible. The main objective of this article is to explore the directions of applying production functions and dynamic models at the micro level, constructing an economic-mathematical model to simulate production activities, and identifying possibilities for effective economic development of a company. Let's highlight the main tasks set to achieve this goal: investigate the possibility of applying macroeconomic models to model microeconomic processes; modify general dynamic models for their use in small and medium-sized enterprises; compare the obtained modeling results using Keynesian and neoclassical approaches; develop recommendations for further improvement and effective application of these models in production enterprises. To address the tasks of the study, the following research methods were employed: observation, generalization, comparison, formalization, classification, statistical analysis, economic-mathematical modeling, and forecasting of results. The article compares two selected approaches − Keynesian and neoclassical. A model was developed for each approach, taking into account the key aspects of the respective economic approach. The conditions for applying macroeconomic models to model microeconomic processes were examined during the research. Two models were developed and tested using real enterprise data. The models were used to analyze various microeconomic processes, including consumption, production, and investment. The results of model testing included analyzing the effects and dynamics of microeconomic processes according to the chosen Keynesian and neoclassical approaches. Each approach was evaluated in terms of its ability to explain and predict real economic phenomena. Based on the presented results, conclusions were comparison the effectiveness of applying macroeconomic models to model microeconomic processes.

The impact of tax and fee reduction on enterprise financialization—a quasi-natural experiment based on "replacing business tax with value-added tax"

Tax reduction and fee reduction is an important measure to increase the impetus of economic and social development and support the long-term healthy development of real enterprises, which has an important impact on the business strategy of enterprises. Under the background of tax reduction and fee reduction and enterprises "shifting from real to virtual", this paper takes the implementation of replacing business tax with value-added tax as A quasi-natural experiment, and uses the data of all Chinese A-share listed companies from 2009 to 2015 to investigate the impact of tax reduction and fee reduction on enterprise financialization through the DID model. Moreover, the corresponding robustness test is carried out. The research shows that tax and fee reduction can not only directly reduce the tax burden of enterprises, but also have positive significance to restrain the level of enterprise financialization and promote the development of the real economy. It provides experience for the subsequent implementation of tax and fee reduction policies, and also provides reference for regulators to take reasonable measures to prevent and defuse financial risks.

Progress in Research on Green Bonds Boosting the Double Carbon Goal

With the proposal of China's new development concept, green finance continues to play its role in resource allocation in the capital market, and bonds, as medium and long-term financing tools, are one of the main means of direct financing for real enterprises, and the birth of green bonds gives bonds a more powerful service function and creates new opportunities for green development. As an important part of green finance, green bonds have injected strong momentum into China's economic development. By combing and discussing the existing green bond literature, this paper has a relatively mature research and development, not only from the macro and micro perspectives, but also can adjust the industrial structure, force enterprises to carry out green transformation, improve the return on net assets of enterprises, and bring "green benefits" when green bonds are issued. Moreover, the long-term social value it brings can promote the high-quality development of China's economy and promote the realization of the "dual carbon" goal.

Investment analysis of the formation of a digital platform of a cluster-type industrial ecosystem

The article discusses the theoretical provisions in the field of digital platforms formation, their key features and their classification is presented. The key differences between the concepts of industrial ecosystems and industrial clusters, as well as the relationship between them, are revealed. The main advantages of digital platforms have been studied in the form of reducing or completely eliminating territorial and temporary barriers, reducing transaction costs, and the possibility of creating additional value for goods and services, thereby creating a competitive advantage for companies. The approaches to assessing the effectiveness of the introduction of a digital platform in an enterprise by considering this process as an investment project, as well as the impact on the company’s activities as a whole and evaluating the qualitative improvements of the changing business process are considered. The study of the obtained results of the application of these approaches to assess the effectiveness of the digital platform in a real enterprise operating in the market of specialized services. The introduction of the digital platform proved to be effective both from the point of view of the investment project for the company and from the point of view of improving the company’s activities as a whole. In addition, the digital platform allowed the company to qualitatively improve the company’s business processes according to a number of performance indicators developed taking into account the specifics of the implemented platform.

Исследование трансформации архитектуры предприятий малого и среднего бизнеса в условиях кризиса и санкций

the article is devoted to the issues of digital adaptation of business in a changing market, the study of popular trends, as well as the assessment of the impact of these changes on the success of the company in adverse economic conditions. Discussion: The paper conducts research in the field of architecture transformation of small and medium-sized businesses. After conducting the study on the example of a real enterprise LLC «Sociocyberengineering», a trend towards digitalization of business processes by companies was revealed. The relevance of digitalization, as well as popular trends identified during the review of a typical enterprise were confirmed by data from open sources. Results: The authors considered the problem of business adaptation to changes in market realities, which is popular in the current economic conditions. An affordable way to solve the problem was identified, which consists in conducting a phased digitalization at the system level of the architecture.

Motivation Analysis of Market and Institution on Corporate Leasing Financialization from the Perspective of Regulatory Arbitrage: Evidence from Chinese Listed Companies

In recent years, more and more real enterprises speculate and arbitrage in the financial market by participating in financial institutions, and the financialization of micro enterprises has become a general trend. However, the empirical conclusions of existing literature from different dimensions of enterprise development are not consistent. This paper uses the data from Shanghai and Shenzhen A-share companies from 2007 to 2019 to perform an empirical analysis on the market and institutional motivations of the entity enterprises’ sharing and holding financial leasing companies (SHFL). It is found that the fundamental reason for enterprises to SHFL is the profit gap between the financial industry and the real industry. The more intense the industry competition, the lower the profit rate, the larger the spread, and the stronger the incentive to SHFL. In addition, the continuous improvement of the national system construction in the financial leasing industry has played an essential role in promoting it. In the heterogeneity analysis, it is found that private enterprises are also motivated to ease financing constraints except interest rate spread. On the contrary, they are not significant in the sample of state-owned enterprises. Equipment manufacturing industries have both narrowing interest rates and equipment promotion motivation, while the non-equipment manufacturing industry has no such characteristics. Finally, the limitations and future research directions of this paper are discussed.

Difficulties and Solutions of Digital Transformation of Small and Medium-sized Enterprises in the Era of Digital Economy

The digital economy has promoted the transformation and upgrading of real enterprises. As an important group of innovation, entrepreneurship and employment, the digital transformation of small and medium-sized enterprises is imperative in order to achieve better survival and development. Taking small and medium-sized enterprises in Hangzhou, Zhejiang Province, China, as the research object, a questionnaire survey was conducted on the current situation and problems of their digital transformation. The survey questions include 30 questions, such as the recognition of digital transformation, the willingness of digital transformation, the planning of digital transformation, the performance of digital transformation, existing problems and suggestions, and were analyzed. The survey results show that there are many problems in the digital transformation of small and medium-sized enterprises, such as insufficient awareness, weak foundation, financial difficulties, lack of talents and so on. Based on the above problems, the four dimensional integration path of strategy, technology, process and organization is put forward from the enterprise level; From the perspective of the government, this paper puts forward countermeasures and suggestions such as precise implementation of policies, improvement of finance, strengthening cognition, introducing and educating talents, setting up benchmarks and building ecology, so as to promote the innovation driven and digital transformation development of small and medium-sized enterprises.

The Influence of High-tech Enterprise Financialization on Enterprise Value

In recent years, the economic growth has slowed down structurally, the real business environment has been deteriorating due to rising costs, insufficient demand, low innovation capacity and other factors, the industrial investment rate has continued to decline, the industrial operating profit situation is not optimistic, and many real enterprises are struggling and on the verge of bankruptcy. On the contrary, the financial market has ushered in a vigorous development. At the same time, because the financial market serves the real economy, it also makes it more convenient for real enterprises to pay and settle, transfer resources regionally, and diversify investment, which greatly alleviates the problem of information asymmetry faced by real enterprises in the market. The influence of the degree of financialization on the corporate culture is positive. The higher the degree of financialization, the deeper the impact on the value of the enterprise, and vice versa. However, the degree of development has a certain limit, and once it exceeds this reasonable limit, it will develop in the opposite direction. Therefore, on this basis, it is increasingly important to study the impact of entity enterprise financialization on enterprise value. This paper studies the impact of high-tech enterprise financialization on enterprise value, that is, the impact of enterprise financialization on enterprise value.

Financial Shared Services Empower the Real Economy: The Evidence from China

As a product of digital technology, financial shared services can be deeply integrated into enterprise operation and management, which is significant to accelerate the financial transformation of real enterprises and achieve high-quality development. Based on this, this paper examines whether and how financial shared services empower the real economy, using data from listed companies in China from 2008 to 2017 as a sample. The research results show that financial shared services can significantly improve enterprise value and thus empower the real economy, and the optimization of operational efficiency is an important path for financial shared services to empower the real economy. Further research finds that the empowering effect of financial shared services on the real economy mainly exists in enterprises with many subsidiaries, large scale, and high labor intensity. This paper not only bridges the gap between financial shared services and micro-enterprise related research but also provides references and lessons for how to implement financial shared services in the real economy.

Deep learning technology of Internet of Things Blockchain in distribution network faults

AbstractNowadays, the development of human society and daily life are inseparable from the power supply. Therefore, people also put forward higher requirements for the reliability of distribution network, but power companies can only passively deal with distribution network failures, which is a bottleneck for the improvement of distribution network reliability. The Internet of Things (IoT) is the best solution for online equipment status monitoring and basic data sharing for large, widely distributed, relatively fixed, and large numbers of equipment. The construction of the IoT for power distribution equipment faces many important problems, including the selection of networking, equipment selection, and interaction standards. When researching the implementation plan, research on the distribution of IoT market was carried out. Based on the grid, the idea of optimizing the investment selection plan of the power distribution using IoT was discussed, and a result verification model was established. After the completion of the theoretical part, a case study of medium-voltage distribution grid equipment management and medium-voltage distribution network equipment management based on the grid was carried out by taking a real enterprise application situation as an example. Realizing fault diagnosis of distribution network will not only provide decision support for operation and maintenance of distribution network for power companies, but also have great economic and social benefits. Aiming at the shortcomings of single data mining method in distribution network fault diagnosis, hybrid data mining method is proposed. First, rough set theory is used to reduce the original fault data and form a simplified rule set. Because of the non-linearity of distribution network fault and the strong learning ability, adaptability, and robustness of Bayesian network, Bayesian network can be used to classify distribution network faults. Therefore, a simplified fault diagnosis system is established in this paper, and its correctness is confirmed. Then, the learning and training are carried out by using Bayesian network to call the simplest rule set, which has the characteristics of short learning and training time and high diagnostic accuracy.

Overall Readiness of Logistics 4.0: A Comparative Study of Automotive, Manufacturing, and Electronics Industries in the West Bohemian Region (Czech Republic)

Industry 4.0 brings technologies of automation, the use of collaborative robots, and modern advanced warehousing interconnected with digitization of all steps of the production process, not excluding logistics. Internal logistics vary in different product types. Due to the specification of the Industry 4.0. concept, irregularities can be improved into fully autonomous processes. This trend also raises SMEs’ flexibility in terms of business processes and production organization. The transformation to Industry 4.0 is different from many perspectives (technological, organizational, financial). Therefore, companies need to know their processes’ state and determine their readiness for automation and digitization. After this, a consecutive strategy needs to be adjusted. This article presents the evaluation results of a comparison within individual business sectors (automotive, engineering, and electrical engineering fields). Several scientific methods were used for the successful realization of the objectives of the work (basic logical methods and empirical methods). The proposed methodology was verified in the form of an experiment in selected industrial enterprises. Internal logistics processes were observed inside real enterprises as a form of suitable preliminary research. Further potential cooperation between the companies and a team of experts specializing in Industry 4.0 is planned.

Social, Economic, Cultural Resilience, and Discipline Role of the North Sumatera Province Government in the COVID-19 Management

One of the efforts of tackling COVID-19 is through the social, economic, and cultural resilience approach and the discipline of the Government of North Sumatera Province. This study aimed to explore the experience of the North Sumatra Province in tackling the COVID-19 from the aspect of social, economic, and cultural resilience and the firmness of the government in coordinating with various parties in the management COVID-19. The qualitative study conducted an in-depth interview with the BPBD and Provincial Health Office of North Sumatera Province. The study showed that North Sumatera had developed the regional potential to improve the economy and small medium enterprises during pandemic. Several activities such as a budget allocation for labor-intensive business and industrial programs, strengthening the real sector and small medium enterprises, and developing Budikdamber program and Kampung Paten to strengthen food security, support economic growth, and reduce inflation. Discipline and firmness in coordination between parties such as inter-provincial border closure; assistance in social and health sector; control and enforcement of discipline on health protocols; socialization, simulation, and education on COVID-19. Synergy to build strength together to carry out health protocols and the spirit in revitalizing the local economy determine the success of North Sumatera Province in managing COVID-19.

Corporate Nature, Financial Technology, and Corporate Innovation in China

Corporate innovation has become the main driving force for the long-term development of enterprises, but the characteristics of high risk, long cycle, and high capital demand of corporate innovation activities expose enterprises to high financial rejection. Financial technology, formed by combining digital technology with traditional financial services, is gradually changing the financial service model and providing new ideas for corporate investment and financing. In this study, using the data of non-financial and non-real estate listed companies in Shanghai and Shenzhen markets, A-shares from 2015 to 2020, we examine the effect of financial technology on corporate innovation through a fixed-effects model and investigate the influence of corporate characteristics on the relationship between financial technology and innovation through a moderating-effects model. The results show that financial technology enhances the ability to serve real enterprises by reshaping financial services, which in turn effectively drives an increase in corporate innovation, and the mechanism is conditionally heterogeneous. In addition, the moderating effect of the firm’s nature is found to be more significant in non-state-owned firms, high-technology firms, and firms in the growth and maturity stages by life cycle. The policy implications of this study are to continuously promote theoretical research, to guide the development of fintech, and to improve the construction of financial technology infrastructure. Additionally, to deepen the integration of financial technology with real enterprises and establish differentiated financial technology support tools, so as to improve the precision of promoting enterprise innovation.

Intelligent support system for monitoring machining processes

The intelligent support system for monitoring machining processes was objective of our research. The paper presents process of development of this system which can used in real enterprises. Methodology: to create of the system we use methods of artificial intelligence (neural networks, decision trees and rules, fuzzy logic), using AI methods we created procedures support monitoring machining processes: diagnosis of machining process disturbances using decision rules, control of stability of the machining process based on control card analysis using neural networks, control of surface roughness parameter using neural networks and decision trees and monitoring machine tool through control and compensation of thermal deformations of ball screws of CNC machine tools using neural networks. To optimize of AI models we compared many the models with different structures, chose the best models and used them in intelligent system.

Benchmarking approach in quality management of domestic instrument-making enterprises

The aimof the article is to develop practical and methodological recommendations for improving the quality management processes at domestic instrument-making enterprises and increasing their competitiveness based on the use of benchmarking processes. The research methodology includes: system-structural and comparative studies with a conditionally reference model (to understand the logic of benchmarking studies of different types in related and unrelated industries, with an explanation of theirs goals and advantages for quality management); monographic method (to search for relationship between existing competitive strategies for instrument-making enterprises (innovators and non-leaders) and their choice of the most adequate benchmarking techniques);system-analytical method (for the analysis of specific benchmarking tools used by real domestic instrument-making enterprises); design-scenario method (to study the future strategic moves of surveyed enterprises and potential impact on their quality management results). Scientific novelty: the options for using the benchmarking process for quality management at instrument-making enterprises are disclosed, which make it possible to turn this process from project-oriented to continuous. Practical value: methods of competitive analysis and quality management based on the advantages identified through benchmarking are considered on the example of two domestic instrument-making enterprises: PJSC Sambir Instrument-Making Plant «Omega» and State Enterprise Kharkiv Instrument-Making Plant (KhPZ) named after Taras Shevchenko. Conclusions. Ukrainian instrument-making enterprises are gradually moving along the path of changing generations of benchmarking: from reengineering (retrospective product analysis) to competitiveness benchmarking, and then to gaining advantages as a quality leader on the example of enterprises from unrelated segments (and not necessarily competitors). There are still two unresolved stages ahead: strategic benchmarking (with a systematic assessment and selection of strategic

Автоматизации бизнес-процессов на малых предприятиях и повышение их уровня цифровизации за счет развития цифровой инфраструктуры посредством «Трансформации системы оборота информации»

The article is devoted to the study of the possibilities of modern means of automating business processes in small enterprises and increasing their level of digitalization through the development of the digital infrastructure of such companies through reengineering and transformation of the information circulation system. The article shows the possibility of using the developed author's methodology for transforming the information turnover system («TSOI»), which includes a number of algorithms and makes it possible to increase the efficiency of reengineering business processes in small businesses. The authors, within the framework of the article, describe the application of the developed specialized software (software) to automate the process of collecting tender documents from the platforms of electronic trading – «ROSA». The article substantiates the possibility of introducing the developed toolkit into the activities of small enterprises, and also conducts its approbation on the example of reengineering of business processes of a real enterprise. The effectiveness of the proposed toolkit has been proven within the framework of the case under consideration due to the calculations of the economic effects obtained from the implemented tools of the complex of business process automation tools.

An Improved Intellectual Capital Management Method for Selecting and Prioritizing Intangible-Related Aspects: A Case Study of Small Enterprise in Thailand

This study develops a new integrated approach for improving deficiencies relating to executives’ intuitive or illogical decisions, mainly found in past intellectual capital management (ICM) methods. To simultaneously rectify several flaws, the process model of intellectual capital (IC), a traditional ICM method, is integrated using decision science methods—the analytic network process (ANP) and quality function deployment (QFD). The process model of IC is adopted as a core procedure of the proposed ICM approach. ANP is integrated to improve the ability to consider relationships among the IC critical factors and their impacts, while QFD is included to facilitate the systematic consideration and identification of correlations, linkages, and impacts between all IC-related elements from the business concept to strategic plans. The proposed method was applied to two case studies in one real enterprise in Thailand. The results of the implementation reveal the priorities of all IC-related aspects, and the first priority of key success factors (KSFs), key performance indicators (KPIs), and action plans (APs) are all associated with the organization in the structural capital dimension. The results demonstrate that the method may offer advantages with respect to the conceptual expectations and may prioritize critical IC factors and identify their weights. Furthermore, the improved method could indicate the correlations and impacts between related elements, such as critical factors and associated indicators. This study proposes a new comprehensive and systematic management framework by integrating different concepts—decision science methods and the ICM method. To the best of the authors’ knowledge, this improved approach has not been explored or proposed in earlier studies.

Evaluation Index System Construction of High‐Quality Development of Chinese Real Enterprises Based on Factor Analysis and AHP

China’s economic development has shifted from high‐speed to high‐quality. The fundamental of promoting the high‐quality development of the real economy lies in real enterprises. Therefore, it is urgent to measure the high‐quality development of real enterprises scientifically and reasonably. Herein, we construct a comprehensive evaluation index system for the high‐quality development of real enterprises based on the existing research and combined with the characteristics of real enterprises. Then, the high‐quality development index for real enterprises is created using factor analysis and AHP. Moreover, we measure and analyze the high‐quality development of real enterprises in 2020. The results show that the high‐quality development level of Chinese real enterprises remains to be further upgraded. Meanwhile, there are obvious contrasts in the high‐quality development index of real enterprises in industries and regions. Finally, we put forward some related policy recommendations, such as enhancing policy relevance, insisting on innovative development, and increasing financial sustainability.