Sustainable Growth Of Companies Research Articles

Regional fintech development, financing constraints, and enterprise innovation: evidence from China’s A-share non-financial listed companies

ABSTRACT This study uses a fixed effect model to examine the impact based on a sample of non-financial A-share listed companies in the Shanghai Stock Exchange and Shenzhen Stock Exchange from 2010 to 2019. The empirical results show that regional fintech development has a significantly positive effect on enterprise innovation, while heterogeneity analysis results indicate that this effect is more significant for small and medium-sized enterprises and secondary industry fields. Further research finds that regional fintech development not only has significant spatial autocorrelation, but it also has spillover effects on enterprise innovation. Additionally, the mechanism test shows that financing constraints are part of the mediating factor between regional fintech and enterprise innovation. We conclusively present three recommendations for enriching the development of regional fintech, thus allowing for increased innovation potential and the sustainable growth of companies.

Auto-Routing Systems (ARSs) with 3D Piping for Sustainable Plant Projects Based on Artificial Intelligence (AI) and Digitalization of 2D Drawings and Specifications

The engineering sector is undergoing digital transformation (DT) alongside shifts in labor patterns. This study concentrates on piping design within plant engineering, aiming to develop a system for optimal piping route design using artificial intelligence (AI) technology. The objective is to overcome limitations related to time and costs in traditional manual piping design processes. The ultimate aim is to contribute to the digitalization of engineering processes and improve project performance. Initially, digital image processing was utilized to digitize piping and instrument diagram (P&ID) data and establish a line topology set (LTS). Subsequently, three-dimensional (3D) modeling digital tools were employed to create a user-friendly system environment that visually represents piping information. Dijkstra’s algorithm was implemented to determine the optimal piping route, considering various priorities during the design process. Finally, an interference avoidance algorithm was used to prevent clashes among piping, equipment, and structures. Hence, an auto-routing system (ARS), equipped with a logical algorithm and 3D environment for optimal piping design, was developed. To evaluate the effectiveness of the proposed model, a comparison was made between the bill of materials (BoM) from Company D’s chemical plant project and the BoM extracted from the ARS. The performance evaluation revealed that the accuracy in matching pipe weight and length was 105.7% and 84.9%, respectively. Additionally, the accuracy in matching the weight and quantity of fittings was found to be 99.7% and 83.9%, respectively. These findings indicate that current digitalized design technology does not ensure 100% accurate designs. Nevertheless, the results can still serve as a valuable reference for attaining optimal piping design. This study’s outcomes are anticipated to enhance work efficiency through DT in the engineering piping design sector and contribute to the sustainable growth of companies.

Human Capital Strategic dan Dampaknya terhadap Kinerja Karyawan: Pendekatan Literature Review

Human Capital is the main capital of the organization in supporting the achievement of organizational performance. Currently, Human Capital is an interesting thing for organizations. Every organization strives to optimize the potential of its human resources in order to achieve organizational goals, so that appropriate steps and strategies are needed regarding the application of Human Capital. The purpose of writing this article is to explore and summarize the literature review related to human capital in the company. so that it can find out alternative strategies that can be done by companies in order to improve employee performance. This article uses a literature review approach with content analysis techniques using secondary data from various journals. The results of the literature review can be conveyed that, Human Capital Management is a top priority to improve employee performance. Companies must be able to maintain and improve Human Capital systems and strategies, there needs to be a good strategy in building human capital such as by including company goals in line with employee goals and involving employees in every decision making. Employees are more likely to stay with organizations that have the same values and goals as them. The results of this study should be taken into consideration for companies in implementing Human Capital strategies as an effort to build a good organizational climate, so that it has an impact on achieving employee performance which indirectly also has an impact on competitive and sustainable company growth.

CУЧАСНИЙ СТАН РЕЗУЛЬТАТИВНОСТІ ТАКТИЧНОГО УПРАВЛІННЯ В ДІЯЛЬНОСТІ СУБ’ЄКТІВ Е-БІЗНЕСУ

In modern economic conditions, e-business plays a key role in both national and global economies, where technological innovations and rational management determine the success of companies. Let's consider the effectiveness of tactical management by e-business entities, focusing on contemporary challenges and opportunities organizations face. The article argues that in today's world of e-business, the qualification and competence of personnel are crucial for adapting to and utilizing cutting-edge technologies. These aspects are key to ensuring high productivity and innovation in companies. Through the implementation of technological solutions such as CRM systems and automated marketing platforms, it has been proven that e-business can significantly increase its efficiency and enhance customer loyalty. It is argued that the ability to innovate and explore new market niches also greatly depends on the staff's ability to adapt to rapidly changing conditions. In this context, investments in skill development and knowledge of employees are critically important to support competitiveness and sustainable growth of companies. Thus, the effectiveness of management in the e-business sector is determined by a comprehensive approach to staff development and integration of advanced technologies, allowing companies not only to survive but also to thrive in a dynamic business environment. The development of tactical management in e-business reflects global trends and market demands, where innovation and the ability to quickly respond to changes are crucial for success. A comprehensive approach to staff training, integration of modern technologies, and the use of advanced data analysis methods form the foundation for developing solutions that effectively address complex challenges and improve customer service. In this context, it is critically important to understand not only the internal processes of the company but also the dynamics of the external market environment, enabling adaptation to constant changes and leveraging them for the benefit of the business. Thus, effective tactical management becomes a decisive factor in maintaining stable development and growth of e-business, relying on deep analysis and strategic planning. Therefore, tactical management in e-business, based on a profound understanding of innovative technologies, staff qualification, and external economic conditions, can significantly enhance the efficiency of business processes and ensure long-term success of companies in e-commerce.

PENGARUH INTANGIBLE ASSET, FINANCIAL FLEXIBILITY, GREEN INNOVATION, DAN HUMAN CAPITAL TERHADAP SUSTAINABLE GROWTH PERUSAHAAN HIGH PROFILE YANG TERDAFTAR DI BEI

This research aims to examine the influence of intangible assets, financial flexibility, green innovation, and human capital on sustainable growth of companies, with firm size and return on assets (ROA) as control variables. The study uses a sample of 136 high-profile companies from the period of 2018 to 2021, with total of 544 observations. Through descriptive statistical tests, panel data model testing, hypothesis testing, and multiple linear regression analysis, the findings of this study indicate that intangible assets and financial flexibility have a positive effect on sustainable growth. However, green innovation and human capital have a negative impact on sustainable growth of companies. These results suggest that valuable intangible assets and good financial flexibility contribute to enhancing sustainable growth, whereas high levels of green innovation and human capital may not always have a positive impact on sustainable growth. Further research is recommended to understand the reasons why green innovation and human capital have a negative influence on the sustainable growth of companies.

Innovative activity of insurance organizations: Course of development

Aim. The presented study aims to develop a model for the innovative development of insurance in Russia based on an in-depth analysis of scientific papers, a survey of insurers, and the market situation.Tasks. The authors examine innovative development models in the insurance sector; identify problems affecting the introduction of innovations in the insurance business; analyze channels through which insurers purchase insurance products; test the hypothesis about insurers giving preference to digital channels when choosing insurance depending on age and gender; identify the most popular types of insurance products among insurants; highlight promising innovative approaches in Russian insurance.Methods. This study uses general and private scientific methods, a formal logical approach, and survey of insurers.Results. A model for the innovative development of insurance in Russia is developed based on an in-depth analysis of scientific papers, a survey of insurers, and the market situation. Testing of the hypothesis about the dependence of the choice of insurance channels on age (generation) for different types of insurance indicates that such a dependence exists only for car insurance. The hypothesis about the joint influence of gender and generation on the choice of channels for purchasing insurance policies is not confirmed. According to the survey, the most popular types of policies include car insurance and travel insurance. Conventional insurance remains more popular among respondents than digital insurance.Conclusions. A problem of interaction and communication between the insurer and the insurant is revealed. Digital insurance is not sufficiently developed among Russian insurers. The developed client-oriented model will make it possible to establish long-term relationships between companies and customers. Convenient, functional digital tools will create the prerequisites for the sustainable growth of companies, allowing them to gain important competitive advantages in the market.

UNDERSTANDING ACCOUNTING IN SUPPORTING REPORTS QUALITY FINANCE AT PT. PASANGGRAHAN CITRA PERSADA

Financial statements are a form of accountability for the management of economic resources owned by an entity. Published financial reports must be prepared in accordance with applicable accounting standards so that these financial statements can be compared with the financial statements of the previous period or compared with the financial statements of a clear entity. Quality of financial reports - (financial statement) is the final result of the process of accounting activities or a summary of financial transactions. Financial statements are prepared to provide information about the position of assets, debts and capital that occur in the company's household as well as its profits and losses. The characteristics of financial reports in terms of quality are based on the Accounting Standards Guide (PSAK), namely: Understandability, Relevance, Materiality, Reliability, Honest presentation, Substance over form, Neutrality, Fair consideration and Completeness. Based on the problems mentioned above, we conducted community service at PT Pasanggrahan Citra Persada, which is an l‹loantral‹tor company engaged in structural work, architects and interiors, with an expert and skilled workforce. PT Pasanggrahan Citra Persada emphasizes sustainable company growth to become one of the best quality construction companies in Indonesia with competency development through human resource development, technology management and good corporate governance.

THE MAIN TASKS OF HR ANALYTICS IN THE CONTEXT OF IMPLEMENTING THE PERSONNEL MANAGEMENT FUNCTION

Introduction. The article presents and substantiates the main tasks of HR analytics at the enterprise in modern conditions. Monitoring and adaptation of the personnel management system to new economic conditions are key aspects of the effective functioning of the organization during the war. Personnel training metrics determine the effectiveness of the processes of appropriation and selection of employees in the company. They help to assess how successful the work of acquiring and retaining talented personnel is. The study of personnel retention is an important task of the HR analyst in order to determine the main reasons for personnel turnover and develop an effective talent retention policy. Measuring the effectiveness of remote work organization is important in the context of changes in organizational work models. By comparing the results of the work of employees, it is possible to find out the main criteria that must be met by the work organization in order to ensure the maximization of the work of the staff. Analyzing staff training and development processes is important to ensure sustainable company growth and support employee skills. Goal. To substantiate the main tasks of HR-analytics capabilities in the implementation of current personnel management tasks. The conditions of digitization of the economy create new challenges for personnel management, and the formation of an effective HR analytical system becomes a key element of a modern enterprise. This system is determined by the need to quickly obtain and analyze personnel information for making informed decisions.

The Effects of Digital Leadership and ESG Management on Organizational Innovation and Sustainability

Companies around the world have recognized that environmental issues and social values constitute some of the most important management concerns and have actively introduced environmental, social, and governance management (ESG management, ESGM). In the digital age, an attempt is also often made to incorporate digital transformation into ESGM. However, research on the combination of digital leadership, ESGM, and organizational innovation is still in its early stages. Therefore, in this study, a research model was constructed by combining ESGM and organizational innovation (OI) from the perspective of digital leadership (DL). Specifically, for achieving organizational sustainability (OS), the mediating effect of two variables—ESGM and organizational innovation—was also explored, and empirical analysis was conducted on Korean and Chinese companies. We took into consideration the premise that the impact of digital leadership, ESGM, and organizational innovation on organizational sustainability could be different due to the differences in the cultures and systems of the two countries. For empirical analysis, partial least squares structural equation modeling (PLS-SEM) was used. The results showed that digital leadership in both countries had a significant effect on ESGM and organizational innovation. Specifically, both digital leadership and ESGM together with organizational innovation played an important role in organizational sustainability in the entire model. However, between digital leadership and organizational sustainability, the mediating effect of ESGM and organizational innovation was different, viz., Korea had partial mediating effects and China had complete mediating effects. It is expected that this study would fill the research gap in the area of digital leadership in ESGM and contribute to the implementation of corporate ESGM strategies and organizational innovation. Furthermore, valuable implications for organizational sustainability and the sustainable growth of companies are also presented.

Sustainable Growth Rate Analysis in Eastern European Companies

As a prerequisite for long-term strategic and financial planning, sustainable growth is a future-oriented concept that was based on the company’s long-term survival with value creation. The primary aim of this paper is to determine the indicators that have an influence on sustainable company growth rate during the five-year period of 2016 to 2020. Panel regression analysis was used in order to thoroughly analyze the sustainable growth variables. Our analysis was based on a sample of 675 observations of companies operating in the Eastern European market. The obtained results showed that liquidity and leverage have a negative impact on sustainable growth, while profitability has a positive impact on sustainable growth. The impact of these variables was statistically significant. The obtained results may serve as an effective company tool to improve the target sustainable growth rate. They provide support for the company’s management to improve its business and ensure healthy growth without major financial difficulties, as well as to promote a sustainable business that will increase the market value of the company. Moreover, all internal and external stakeholders will be provided with insight into the reality of growth plans and opportunities for future sustainable growth, which creates a basis for measuring a company’s business prosperity and predicting its long-term performance.

Intellectual Capital Efficiency and Its Impact on Sustainable Development of Agri-Business Sector in India

Recognizing the importance of IC components, businesses must devise strategies for investing in various IC components while judiciously spending their limited knowledge-based resources. There is a growing demand for research on the link between sustainable development and organization’s intellectual capital. The current research explores the intellectual capital efficiency’s effect on the sustainable growth rate of Indian agri-business firms through modified value-added intellectual capital model. The study adopts a fixed effect regression model to analyze the repercussion of ICE on SGR. The findings of the study reveal that capital employed efficiency exhibits a noteworthy negative impact on sustainable growth of companies, while relational capital efficiency has a noteworthy influence. Human capital efficiency, structural capital efficiency, and innovation capital efficiency do not have significant impact on companies’ sustainable growth rate.

OPERATIONAL RISK MANAGEMENT OF AN INDEPENDENT ISLAMIC BANK

Risk is always be an obstacle to achieving the goals of companies and financial institutions,both of conventional and sharia. It has become a necessity for every company and financial institutionto have a good risk management system so be able to manage existing risks in order to avoid losses, butthe application of risk management carried out by Islamic banks certainly has a very high complexityand needs to be deepen. This study uses a qualitative descriptive approach with purposive sampling ofreports on the implementation of BSM operational risk management and the efforts made to mitigaterisk in 2016-2019. Syari'ah Mandiri Bank has the aim to create sustainable company growth through theoptimization of Good Corporate Governance (GCG). Based on the Risk & Control Self Assessment (RCSA)assessment, operational risks that occurred in BSM from 2016 to 2019 have been successfully managed wellwith the average impact rating low moderate - moderate and average frequency level 2 (The possibility ofan event occurring in a 12 month period of less than 20%), this shows that achievement of the applicationoperational risk management that has been very well done by Syari 'ah Mandiri Bank.

INTANGIBLE ASSETS IMPACT ON SUSTAINABLE GROWTH RATE OF ENTERPRISES IN THE REPUBLIC OF SERBIA

The digital economy unites a dual typology of resources in enterprises, which can be tangible and intangible. In the language of accounting, it is about tangible and intangible assets. Due to the involvement of digital technologies in companies, intangible assets or intellectual capital became prominent. The sustainable growth of companies in Serbia has great importance for both management and external stakeholders. The presented paper examines the impact of intangible assets, formatted with the VAIC model, on the Sustainable growth rate (SGR) of companies in Serbia. The selected list of companies refers to the most profitable industry sector of the Serbian economy, assessed according to the Serbian Business Registers Agency for 2018. In order to confirm the hypothesis, the synthesis method, the analysis method, and the correlation analysis method were used. There was a significant positive impact of intangible assets on the sustainable growth rate of enterprises and a negative impact of physical assets, which, however, is not statistically significant. Since no research has been recorded in our country that sheds light on the correspondence between intangible assets and SGR, the study has a strong practical significance for this purpose. These results represent at the same time a reference point for our economy and for future entrepreneurs on the way to intensive involvement of intangible assets in companies.

사회적 가치 활성화를 위한 대학의 사회적 책임 연계 방안에 관한 연구

Social value has become an important topic of the current era. Therefore, we should be able to realize the importance of value creation based on social value and suggest directions for college education suitable for the age of 4th Industrial Revolution that is approaching fast The current study suggests a value chain model of social value. The value chain model is largely classified into four areas: clustering, business model, shared value, and BICS. In order to revitalize social economy, companies shall create value for the local economy through creating shared value(CSV) beyond corporate social responsibility(CSR). Then, a theoretical background that university social responsibility(USR) shall be stressed for the universities to serve as the supporting organizations was suggested to emphasize the importance industry, academic, research, and government cooperation clusters. In terms of the business model, it should consider expansion through local partnerships to build a sustainable growth model. Therefore, the public benefit of universities as Big Data and Block Data Pain-Point Seeker(PPS) was stressed. Here, it is argued that it is necessary to revitalize shared value with social corporations, village corporations, self-support corporations, and cooperatives. For the sustainable growth of companies, we need to consider social responsibility as well as financial efficiency. The study has stressed the university social responsibility to focus on nurturing workforce with entrepreneurship by matching corporate cloud funding as a part of raising the awareness of USR and enhancing the public benefit of universities for the innovative growth of local communities according to the advent of localization.

Differences in Readability, Keywords, and Orientation of Mission Statements of the Top 100 Korean and Top 100 US Traditional and Innovative Companies

The mission statements of companies reflect the characteristics of their country. There are differences in the content of mission statements between traditional and innovative companies. The sustainable growth of companies has recently become a major focus, and it has been found that mission statements are somewhat related to company innovation. This study analyzed the differences in the readability, keywords, and orientation of mission statements between the top 100 Korean and top 100 US companies by market capitalization and their traditionality and innovativeness. Differences in readability were assessed with the Gunning fog index. Differences in the main keywords were assessed with a keyword network analysis. Differences in orientation were assessed with the nine components of a mission statement. As Korean companies were aiming for global business, there was not much difference in the readability of mission statements between Korean and US companies, but there was a difference between traditional and innovative companies in both countries. There was a difference in the keywords and orientation of the mission statements of Korean and US innovative companies. Both Korean and US innovative companies focused highly on “philosophy.” However, Korean innovative companies focused more on “self-concept,” and US innovative companies focused more on a “concern for survival.”

Exploring Configurations of Knowledge Management Strategy in Information and Communication Technology Firms: A Qualitative Comparative Approach

Project-based organizations (PBOs) in the information and communication technology (ICT) industry have experienced increasing competition. Engineering projects are conducted by firms to deliver customized products and services to clients. Effective knowledge management (KM) in the engineering project context is important for the sustainable growth of companies. At a practical level, engineering managers recognize two types of KM strategy, namely, personalization (person-to-person) and codification (person-to-system). A continuous debate, however, exists between dominant and balanced approaches of this strategy. This exploratory study extends the existing literature by incorporating multiple predictors of KM strategy (i.e., “personalization” and “codification”), two attributes of project complexity (“uncertainty in goals” and “structural complexity”), and an environmental context of “business strategy.” For the conceptual part, a mix–contingent configurational perspective was applied to represent the causal complexity among multiple predictors and its associated outcome. An empirical study was performed by inviting PBO/ICT companies in Indonesia. Out of the total 440 firms, 87 provided useful cases, accounting for a 20% response rate. Crisp-set qualitative comparative analysis was conducted to identify multiple case configurations. This study offers new, more comprehensive insights for engineering managers of successful and less successful ICT firms when implementing knowledge strategy in a highly nuanced manner. This study also identifies multiple successful configurations of knowledge strategy, project complexity, and business strategy.

Disruptive innovation and entrepreneurship in emerging economics

Abstract Disruptive innovation has increasingly become a core subject for researchers across disciplines, from economics to engineering and technology. This is understandable as companies all over the world over are facing contemporary challenges such as intense global competition, rising market volatility, constantly changing consumer demand, and shortened product life cycles. Under these conditions, disruptive innovation and disruptive innovation-based entrepreneurship are increasingly becoming a strategic means for achieving sustainable company growth and competitiveness. Yet, limited research exists today on disruptive innovations in or by emerging economies. Therefore, this Special Issue in Journal of Engineering and Technology Management on Disruptive Innovation and Entrepreneurship in Emerging Economics is devoted to publishing original research that enriches our knowledge about the nature of disruptive innovation and entrepreneurship related with emerging economies, as well as their models, antecedents and economic, social and organizational consequences. The issue also highlights key research areas of disruptive innovation and innovation-based entrepreneurship for future scholarship, inviting more systematic research on the important areas.

A Multi-Class Classification Model for Technology Evaluation

This paper proposes a multi-class classification model for technology evaluation (TE) using patent documents. TE is defined as converting technology quality to its present value; it supports efficient research and development using intellectual property rights–research & development (IP–R&D) and decision-making by companies. Through IP–R&D, companies create their patent portfolios and develop technology management strategies. They protect core patents and use those patents to cooperate with other companies. In modern society, as conversion technology has been rapidly developed, previous TE methods became difficult to apply to technology. This is because they relied on expert-based qualitative methods. Qualitative results are difficult to use to guarantee objectivity. Many previous studies have proposed models for evaluating technology based on patent data to address these limitations. However, those models can lose contextual information during the preprocessing of bibliographic information and require a lexical analyzer suitable for processing terminology in patents. This study uses a lexical analyzer produced using a deep learning structure to overcome this limitation. Furthermore, the proposed method uses quantitative information and bibliographic information of patents as explanatory variables and classifies the technology into multiple classes. The multi-class classification is conducted by sequentially evaluating the value of a technology. This method returns multiple classes in order, enabling class comparison. Moreover, it is model-agnostic, enabling diverse algorithms to be used. We conducted experiments using actual patent data to examine the practical applicability of the proposed methodology. Based on the experiment results, the proposed method was able to classify actual patents into an ordered multi-class. In addition, it was possible to guarantee the objectivity of the results. This is because our model used the information in the patent specification. Furthermore, the model using both quantitative and bibliographic information exhibited higher classification performance than the model using only quantitative information. Therefore, the proposed model can contribute to the sustainable growth of companies by classifying the value of technology into more detailed categories.

Growth Rates of Companies and Filling of a Market Niche

The article is devoted to the problem of the sustainable growth of companies and the possibility of its forecasting based on previous development. Based on a combination of nonlinear dynamics models and regression analysis, the a priori ideas that the growth potential of a company decreases as the market niche is filled with its products are empirically confirmed for the first time. It has been established that steady rapid growth is achieved by firms that manage to achieve dynamic equilibrium, increasing the size of the niche as it is saturated. For slowly growing firms, the growth of companies is constrained not by the limited niche, but by the inability of the firm to occupy it. The revealed patterns are of practical interest in the context of state support programs for rapidly growing companies, which are conducted by many countries, including Russia.

Assessing a social responsibility model for sustainable company growth in the Fourth Industrial Revolution

PurposeThe Fourth Industrial Revolution ( 4th IR) affects the mode of company management. This paper aims to present a revised social responsibility (SR) model as an evaluation tool for corporate social responsibility (CSR) performance for sustainable organizational growth in the era of the 4th IR.Design/methodology/approachTo develop an SR model that can be used well in the era of the 4th IR, the key references are “ISO 26000: Guidance on Social Responsibility” and the “Global Reporting Initiative (GRI) Guidelines.” For International Organization for Standardization (ISO) 26000 and the GRI guidelines, see the homepages in the References section. On the basis of these guidelines, a new SR model for sustainable development in the 4th IR is developed in this paper.FindingsFor a new SR model in the 4th IR, the concepts of management quality (MQ), quality responsibility (QR), creating shared value (CSV), social value and open data and open quality management are incorporated into the existing ISO 26000 evaluation criteria.Originality/valueThe 4th IR is changing the concepts of both quality management (QM) and SR. To the best of the authors’ knowledge, the new concept of SR has yet to be discussed extensively. In this paper, a new SR model is suggested to reflect the characteristics of the 4th IR.