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Business, Innovation, and Economics Sustainability

A special issue of Sustainability (ISSN 2071-1050). This special issue belongs to the section "Economic and Business Aspects of Sustainability".

Deadline for manuscript submissions: closed (15 July 2023) | Viewed by 46424

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Department of Economics Engineering, Faculty of Business Management, Vilnius Gediminas Technical University, 10223 Vilnius, Lithuania
Interests: disrupted economy competition
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Special Issue Information

Dear Colleagues,

This Special Issue intends to bring together novel research on business innovation development and sustainability in economics for a broad audience of academic researchers, industry professionals and regulators.

We welcome submissions that represent original, high-quality, theoretical and empirical research, as well as policy-oriented research papers, which confer clear-cut findings to strengthen the knowledge of all areas of business, innovations and economic sustainability.

We especially encourage research that focuses on business technologies and applications that have been profoundly transforming the standard markets and, in turn, present new challenges and opportunities to economics and sustainability management research, including, but not limited to, the following topics: economics/competition, businesses/startups, data visualisation/Big Data, management/innovation, and climate/green.

Dr. Kęstutis Peleckis
Guest Editor

Manuscript Submission Information

Manuscripts should be submitted online at www.mdpi.com by registering and logging in to this website. Once you are registered, click here to go to the submission form. Manuscripts can be submitted until the deadline. All submissions that pass pre-check are peer-reviewed. Accepted papers will be published continuously in the journal (as soon as accepted) and will be listed together on the special issue website. Research articles, review articles as well as short communications are invited. For planned papers, a title and short abstract (about 100 words) can be sent to the Editorial Office for announcement on this website.

Submitted manuscripts should not have been published previously, nor be under consideration for publication elsewhere (except conference proceedings papers). All manuscripts are thoroughly refereed through a single-blind peer-review process. A guide for authors and other relevant information for submission of manuscripts is available on the Instructions for Authors page. Sustainability is an international peer-reviewed open access semimonthly journal published by MDPI.

Please visit the Instructions for Authors page before submitting a manuscript. The Article Processing Charge (APC) for publication in this open access journal is 2400 CHF (Swiss Francs). Submitted papers should be well formatted and use good English. Authors may use MDPI's English editing service prior to publication or during author revisions.

Keywords

  • innovation
  • business
  • economics sustainability
  • market sustainability
  • disrupted economy

Published Papers (29 papers)

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23 pages, 2388 KiB  
Article
Research on Dynamic Evolutionary Efficiency and Regional Differentiation of High-Tech Industrial Chain Networks
by Lihui Chen, Qiqi Xiao, Jianlin Wang and Zhong Fang
Sustainability 2023, 15(24), 16643; https://doi.org/10.3390/su152416643 - 07 Dec 2023
Viewed by 640
Abstract
This research dynamically evaluates the innovation efficiency of China’s high-tech industry and explores the efficiency differences in basic innovation, application innovation, and income innovation of this industry for different regions. Based on panel data of 30 provinces from 2015 to 2019, we construct [...] Read more.
This research dynamically evaluates the innovation efficiency of China’s high-tech industry and explores the efficiency differences in basic innovation, application innovation, and income innovation of this industry for different regions. Based on panel data of 30 provinces from 2015 to 2019, we construct a three-stage dynamic DDF (Directional Distance Function) model, divide the high-tech industry into three stages and measure the efficiency of the three stages. From 2015 to 2019, most of the total efficiency of China’s high-tech industries showed an upward trend, with the western region having the highest total efficiency value and the central region the lowest. Most of the 30 provinces present basic innovation efficiency < applied innovation efficiency < profitable innovation efficiency. The conclusions from the article’s empirical analysis can help developing countries concerned find out key links to improve the efficiency of high-tech entrepreneurship and innovation and then formulate relevant industrial policies. Full article
(This article belongs to the Special Issue Business, Innovation, and Economics Sustainability)
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18 pages, 1885 KiB  
Article
Analysis of Regional Division of Labor in Value Chain Patterns and Driving Factors in the Yangtze River Delta Region Using the Electronic Information Manufacturing Industry as an Example
by Jiangjiang Kang, Chuankai Yang and Yuemin Ning
Sustainability 2023, 15(19), 14393; https://doi.org/10.3390/su151914393 - 29 Sep 2023
Cited by 1 | Viewed by 820
Abstract
The electronic information manufacturing industry is characterized by a very significant intra-product specialization and can display the characteristics of a regional division of labor. Looking at the existing literature, most studies have mainly examined the position of different countries in the spatial division [...] Read more.
The electronic information manufacturing industry is characterized by a very significant intra-product specialization and can display the characteristics of a regional division of labor. Looking at the existing literature, most studies have mainly examined the position of different countries in the spatial division of labor from the perspective of global value chains, with fewer empirical analyses at the city level or regional scale. Furthermore, deepening the regional division of labor in value chains is an effective way to promote regional industrial synergy and high-quality economic development. Based on the number of listed enterprises and the total number of parent–subsidiary investment connections in the electronic information manufacturing industry, this study reveals the characteristics of the deeper regional division of labor among cities by analyzing the Value Chain Division Index (VCDI). Subsequently, we used the fractional response regression model to analyze influencing factors. We found that, firstly, the core cities are dominated by the production of high-value parts, while the peripheral cities are mainly dominated by the production of middle- and low-value parts. Specifically, northern Anhui, northern Jiangsu, and southwestern Zhejiang are obviously in a disadvantaged position regarding the regional division of labor in the value chain. In the production of middle- and high-value parts, there are close investment connections between the core cities, and only a few peripheral cities maintain a certain degree of connection with the core cities. Therefore, there is a need to further strengthen industrial investment connections between the core and peripheral cities. Secondly, the regional division of labor in the value chain in the Yangtze River Delta region shows the following characteristic: a “one super, many strong” pattern. That is to say, the VCDI value of Shanghai is the highest, and the VCDI value of Suzhou, Ningbo, and Wuxi is also relatively high, while the VCDI value of peripheral cities is relatively low. Furthermore, we found that there is a relatively obvious regional division of labor among cities, but the core cities have strong homogeneity in the high-value areas. Therefore, it is necessary to further strengthen the dislocation of competition between core cities. Thirdly, the model results show that rising land prices and construction in the development zones at the provincial and national levels both have significant contributing effects on the enhancement of the regional division of labor in the value chain, while the innovation inputs, innovation outputs, and their interaction terms show a negative effect. There is a need to further enhance the efficiency of innovation transformation and improve the quality of innovation transformation in order to promote upgrading in the value chain. Full article
(This article belongs to the Special Issue Business, Innovation, and Economics Sustainability)
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23 pages, 2038 KiB  
Article
Transformative Business Models for Decarbonization: Insights from Prize-Winning Start-Ups at the Web Summit
by Evaldo Costa, Margarida Fontes and Nuno Bento
Sustainability 2023, 15(18), 14007; https://doi.org/10.3390/su151814007 - 21 Sep 2023
Cited by 1 | Viewed by 1265
Abstract
The increasing social pressure for decarbonization has placed businesses under considerable scrutiny to actively reduce carbon emissions. A critical step towards achieving this objective is to shift conventional production and consumption systems to more sustainable alternatives. Thus, there is an emergent need to [...] Read more.
The increasing social pressure for decarbonization has placed businesses under considerable scrutiny to actively reduce carbon emissions. A critical step towards achieving this objective is to shift conventional production and consumption systems to more sustainable alternatives. Thus, there is an emergent need to understand the patterns and drivers of the transformative business models (BMs) that underpin that shift. This study adopts a mixed-methods approach that integrates different literature streams—including Sustainability Transitions Theory (STT), Strategic Niche Management (SNM), and the Business Models approach—and stakeholders’ interviews to investigate the key elements of business models that lead towards sustainable practices. This research examines the organizational arrangements of European start-ups operating between 2014 and 2020. The transformation towards decarbonized production and consumption is characterized by an efficient combination of business strategies that incorporate advanced technologies (ATs), such as artificial intelligence (AI), machine learning (ML) and its algorithms, along with sustainable elements, resulting in transformative business models. By exploring the driving elements behind the transition to low-carbon approaches, this study fills a significant gap in the existing literature on business models. The findings from this research also hold relevance for policymakers to promote decarbonization. Full article
(This article belongs to the Special Issue Business, Innovation, and Economics Sustainability)
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18 pages, 276 KiB  
Article
Knowledge-Based Faultlines and Corporate Social Irresponsibility: Evidence from Chinese High-Polluting Companies
by Jingchen Ma and Xu Huang
Sustainability 2023, 15(17), 13156; https://doi.org/10.3390/su151713156 - 01 Sep 2023
Viewed by 710
Abstract
Government requests and societal expectations have pressured high-polluting companies to focus on corporate social responsibility strategies. Using the upper echelons theory as a theoretical framework, we investigated how top management team (TMT) faultlines influence corporate social performance (CSP) based on data from 212 [...] Read more.
Government requests and societal expectations have pressured high-polluting companies to focus on corporate social responsibility strategies. Using the upper echelons theory as a theoretical framework, we investigated how top management team (TMT) faultlines influence corporate social performance (CSP) based on data from 212 high-polluting companies. The results showed that CSP can be improved by reducing corporate social irresponsibility (CSiR), knowledge-based faultlines have a U-shaped effect on CSiR, and there is a knowledge-based faultline critical point. This implies that knowledge-based faultlines can improve CSiR before reaching this critical point. Additionally, medium-strength knowledge-based faultlines are more conducive to improving irresponsible behavior. CEO power plays a significant moderating role in the relationship between TMT faultlines and CSiR and slows the U-shaped effect of knowledge-based faultlines on CSiR. These findings could help enterprises optimize team structures, adjust corporate social responsibility strategies, and maintain sustainable development in high-polluting sectors. Full article
(This article belongs to the Special Issue Business, Innovation, and Economics Sustainability)
21 pages, 2791 KiB  
Article
How Innovation Affects Users’ Emotional Responses: Implications for Product Success and Business Sustainability
by María Alonso-García, Daniel Moreno Nieto and Elena Cabrera Revuelta
Sustainability 2023, 15(16), 12231; https://doi.org/10.3390/su151612231 - 10 Aug 2023
Viewed by 812
Abstract
The market is experiencing an expanding range of products, prompting manufacturing companies to differentiate themselves from competitors by moving away from conventional concepts. However, these innovations often fail to meet consumer expectations, leading to product failure, and consequently, an unsustainable evolution of the [...] Read more.
The market is experiencing an expanding range of products, prompting manufacturing companies to differentiate themselves from competitors by moving away from conventional concepts. However, these innovations often fail to meet consumer expectations, leading to product failure, and consequently, an unsustainable evolution of the market and the business. This unsustainability requires designers to adapt innovations to align with consumer needs and desires. Understanding and validating these adaptations can be achieved by examining users’ emotional responses to innovative products. The objective of this study is to assess the influence of innovation in the development of new successful products, sales performance, and, therefore, business sustainability. This evaluation is based on the perceptions of potential consumers through the analysis of users’ emotional responses to various new product concepts at different design stages. A case study presents the evaluation of 48 new interactive lamp concepts categorized into relaxation, study, and leisure topics. The target audience for these concepts is consumers aged 18 to 24. The designs were developed by 12 teams of final-year industrial design students using insights from a prior psychographic study involving over 800 potential consumers. The findings highlight differences in users’ perceptions of innovative and traditional products across topics. These differences relate to users’ interest, intuitiveness, and desirability toward a product. Generally, traditional product concepts are perceived as more intuitive, but users show greater interest and desire for innovative concepts, with some variations among the analyzed topics. The business environment is encouraged to share these data with new product-development teams to achieve sustainable market and business growth. Full article
(This article belongs to the Special Issue Business, Innovation, and Economics Sustainability)
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21 pages, 965 KiB  
Article
Impact Investing: Determinants of External Financing of Social Enterprises in Brazil
by Eduardo da Silva Fernandes, Inês Hexsel Grochau and Carla Schwengber Ten Caten
Sustainability 2023, 15(15), 11935; https://doi.org/10.3390/su151511935 - 03 Aug 2023
Cited by 1 | Viewed by 1238
Abstract
Social impact investing and social entrepreneurship have great potential for solving global problems. However, practitioners and researchers know little about the entrepreneurial process and the investors’ criteria. Therefore, we identify the determinants of access to external finance for social enterprises in an emerging [...] Read more.
Social impact investing and social entrepreneurship have great potential for solving global problems. However, practitioners and researchers know little about the entrepreneurial process and the investors’ criteria. Therefore, we identify the determinants of access to external finance for social enterprises in an emerging economy using a quantitative approach in a large sample (N = 601). We found that impact sector, business model, entrepreneurial support, development stage, and the adoption of technologies impact access to finance by social enterprises. We also show that green technologies have greater funding access than other enterprises and that social impact investors are more aware of environmental issues and less concerned with financial returns. To raise more funding, we suggest that social entrepreneurs include environmental issues in their business, quickly validate their idea, add an intermediary company between the enterprise and the consumer, seek the support of incubators or accelerators, and adopt emerging technologies in the product or service offered. Full article
(This article belongs to the Special Issue Business, Innovation, and Economics Sustainability)
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20 pages, 601 KiB  
Article
Traversing the Macroeconomic Terrain: An Exploration of South Korea’s Economic Responsiveness to Cross-Border E-Commerce Production Technology Alterations in the Global Arena
by Yao Li, Yugang He and Renhong Wu
Sustainability 2023, 15(15), 11719; https://doi.org/10.3390/su151511719 - 29 Jul 2023
Cited by 5 | Viewed by 1504
Abstract
The principal aim of this study is to discern the implications of technology shocks in the sphere of cross-border e-commerce on the macroeconomic indices of South Korea. Leveraging Bayesian estimation techniques, we scrutinized quarterly data from the inaugural quarter of 2000 through to [...] Read more.
The principal aim of this study is to discern the implications of technology shocks in the sphere of cross-border e-commerce on the macroeconomic indices of South Korea. Leveraging Bayesian estimation techniques, we scrutinized quarterly data from the inaugural quarter of 2000 through to the first quarter of 2022 to perform an empirical exploration. Deductions drawn from the impulse response function indicate that a positive perturbation in the technology of sustainable cross-border e-commerce production instigated a swell in output and investment for both non-tradable and cross-border e-commerce goods producers. Conversely, the sector of traditional tradable goods exhibited a decrease in output and investment. Additionally, this favorable technology shock appears to have amplified household consumption and employment, along with wages in the non-tradable and sustainable cross-border e-commerce goods sectors. In stark contrast, the traditional tradable sector demonstrated a decline in household consumption, employment, and wages. Intriguingly, the technology shock also exerted an influence on the pricing system, causing a rise in the prices of non-tradable goods and cross-border e-commerce goods. On the other hand, the prices of traditional tradable goods experienced a downward turn. These insights provide a pathway to an understanding of how advancements in sustainable e-commerce technology can mold an array of macroeconomic factors in a digitally evolved economy such as South Korea. Full article
(This article belongs to the Special Issue Business, Innovation, and Economics Sustainability)
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26 pages, 343 KiB  
Article
Industrial Agglomeration and Enterprise Innovation Sustainability: Empirical Evidence from the Chinese A-Share Market
by Xuemeng Guo, Ke Guo and Hanzhong Zheng
Sustainability 2023, 15(15), 11660; https://doi.org/10.3390/su151511660 - 28 Jul 2023
Cited by 3 | Viewed by 987
Abstract
The data from 285 prefecture-level cities in China are selected as research samples from 2005 to 2021, using the panel data of listed companies. The empirical study examines the impact of regional industrial agglomeration levels on enterprise innovation sustainability and its heterogeneity effects. [...] Read more.
The data from 285 prefecture-level cities in China are selected as research samples from 2005 to 2021, using the panel data of listed companies. The empirical study examines the impact of regional industrial agglomeration levels on enterprise innovation sustainability and its heterogeneity effects. The findings reveal that industrial agglomeration in the manufacturing sector significantly hampers enterprise innovation sustainability, while agglomeration in the producer services sector promotes it. Mechanism analysis demonstrates that industrial agglomeration affects enterprise innovation sustainability through the micro-conductive mechanism of financial constraints. Heterogeneity analysis shows that the impact of manufacturing agglomeration on enterprise innovation sustainability is more pronounced in technology-intensive and high-end technology industries, whereas the impact of producer services agglomeration varies significantly in knowledge-intensive and resource-intensive industries. Furthermore, heterogeneity analysis suggests that the influence of industrial agglomeration on enterprise innovation sustainability varies according to different firm characteristics. These research findings contribute to a deeper understanding of the microeconomic effects of industrial agglomeration and expand the research perspective on the internal mechanisms and external factors driving sustainable corporate innovation. Full article
(This article belongs to the Special Issue Business, Innovation, and Economics Sustainability)
17 pages, 758 KiB  
Article
The Mediating Effect of Emotional Intelligence on the Relationship between Talent Management Practices and Leadership Skills in Malaysian GLCs
by Nur Lyana Baharin, Beni Widarman Yus Kelana, Lim Sanny, Poh-Chuin Teo, Theresa C. F. Ho and Mohd Khairuddin Ramliy
Sustainability 2023, 15(13), 10727; https://doi.org/10.3390/su151310727 - 07 Jul 2023
Viewed by 1860
Abstract
The purpose of this study was to investigate the relation between talent management practices and leadership skills, as well as the potential mediating role of emotional intelligence. This study accomplished its aim through a conceptual analysis by utilizing the lenses of talent management [...] Read more.
The purpose of this study was to investigate the relation between talent management practices and leadership skills, as well as the potential mediating role of emotional intelligence. This study accomplished its aim through a conceptual analysis by utilizing the lenses of talent management for leadership outcomes, talent-based theory, social cognitive theory, and extant literature. The study indicated that good talent management practice implementation was not adequate to develop and produce talented leadership skills in Malaysian Government-linked Companies (GLCs). The hypothesized partial mediating models were supported by talent-based theory and social cognitive theory, signifying that talent management practices with emotional intelligence will develop leadership skills. This study enhanced the use of mediatory roles of emotional intelligence to better understand the mechanism of talent management practices within the framework. Full article
(This article belongs to the Special Issue Business, Innovation, and Economics Sustainability)
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18 pages, 310 KiB  
Article
Exploring the Impact of Firm Transparency on Green Innovation Legitimacy: Empirical Evidence from Listed Companies in China
by Yuntian Xia, Junhao Hou, Hong Huang, Dongping Liu and Hongmei Ding
Sustainability 2023, 15(13), 10104; https://doi.org/10.3390/su151310104 - 26 Jun 2023
Viewed by 1080
Abstract
Although the existing literature on innovation has little focus on information transparency, we aimed to determine how information transparency affects the legitimacy of green innovation in China. Accounting data, analyst data, and external audit data are used to evaluate a company’s information transparency. [...] Read more.
Although the existing literature on innovation has little focus on information transparency, we aimed to determine how information transparency affects the legitimacy of green innovation in China. Accounting data, analyst data, and external audit data are used to evaluate a company’s information transparency. This paper examines the impact of corporate transparency on the legitimacy of green innovation in the context of three external information sources to which stakeholders have access, utilizing data from 4017 Chinese companies listed between 2005 and 2020. Our estimation results indicate a significant positive correlation between informational accessibility and green innovation legitimacy. The results demonstrate a stronger relationship between corporate green innovation legitimacy and greater earning quality, more analyst monitoring, more accurate analyst surplus estimations, and international audits by the Big Four. This study seeks to present new empirical findings for Chinese listed companies in order to strengthen the legality of green innovation and validate the significance of corporate information transparency via a robustness test. Full article
(This article belongs to the Special Issue Business, Innovation, and Economics Sustainability)
21 pages, 952 KiB  
Article
Protecting Innovation Sustainability: R&D Manipulation and Effective Regulation Based on a Two-Scenario Evolutionary Game Perspective
by Wen Qi, Yanyang Yan and Hongbing Yin
Sustainability 2023, 15(12), 9724; https://doi.org/10.3390/su15129724 - 18 Jun 2023
Viewed by 919
Abstract
Enterprise innovation is the core content of national innovation and an important issue for sustainable development. Therefore, this paper focuses on the phenomenon of R&D manipulation in the declaration of high-tech enterprises, constructs a two-scenario two-party evolutionary game model in which central governments [...] Read more.
Enterprise innovation is the core content of national innovation and an important issue for sustainable development. Therefore, this paper focuses on the phenomenon of R&D manipulation in the declaration of high-tech enterprises, constructs a two-scenario two-party evolutionary game model in which central governments do or do not join in the supervision of local governments and the declaration enterprises and simulates and analyzes the direction of each key variable on the strategy selection of the game subject and degree of impact. The study finds that reducing tax rates is beneficial to avoid enterprise R&D manipulation, while innovation performance and regulatory costs drive local governments to reduce regulation. Further analysis shows that central government’s participation in supervision reduces enterprise R&D manipulation and strengthens local government regulation. The research results could promote the standardization of enterprise innovation behavior and mitigate local government slack, thereby fostering sustainable innovation and development. Full article
(This article belongs to the Special Issue Business, Innovation, and Economics Sustainability)
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18 pages, 1985 KiB  
Article
Enhancing Operating Efficiency in China’s High-End Equipment Manufacturing Industry: Insights from Listed Enterprises
by Yi Zheng and Min Luo
Sustainability 2023, 15(11), 8694; https://doi.org/10.3390/su15118694 - 27 May 2023
Cited by 2 | Viewed by 1619
Abstract
The high-end equipment manufacturing industry is a strategic sector for China’s manufacturing transformation and upgrading. However, this industry is facing a series of challenges, such as insufficient innovation capabilities and poor business operations. This paper uses the super-efficiency SBM model to calculate the [...] Read more.
The high-end equipment manufacturing industry is a strategic sector for China’s manufacturing transformation and upgrading. However, this industry is facing a series of challenges, such as insufficient innovation capabilities and poor business operations. This paper uses the super-efficiency SBM model to calculate the operating efficiency of listed companies in this industry from a micro perspective and conducts in-depth multi-angle analysis of their operating efficiency. Furthermore, Tobit regression is utilized to identify the factors that affect operating efficiency. The aim is to provide a pathway for companies in this industry to achieve efficiency maximization and sustainable development. The research shows that the average operating efficiency of high-end equipment manufacturing companies was around 0.7 from 2016 to 2021, and nearly 70% of companies were in a non-DEA efficient state. The operating efficiency of the intelligent manufacturing equipment industry is far higher than other industries, and the western region has great development potential. In addition to government subsidies, factors such as company age, equity concentration, regional GDP, and regional openness all have a positive impact on the operational efficiency of high-end equipment manufacturing companies. This paper combines the characteristics of the equipment manufacturing industry and analyzes their operating efficiency from multiple dimensions, providing decision support and pathways for the high-quality and efficient development of this industry. Full article
(This article belongs to the Special Issue Business, Innovation, and Economics Sustainability)
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27 pages, 289 KiB  
Article
Analysis on Stochastic Change Characteristics of Technological Innovation Efficiency under Endogenous Change in Technological Information and Investment of Knowledge Capital
by Linsheng Yang, Jintao Gong and Bihao Wang
Sustainability 2023, 15(6), 4799; https://doi.org/10.3390/su15064799 - 08 Mar 2023
Cited by 3 | Viewed by 924
Abstract
The allocation of innovation-related elements is influenced by intangible elements such as technological information, which affects knowledge capital, human capital, and material element investment, resulting in the stochastic change of technological innovation efficiency. The endogenous change in technological information in element investment reduces [...] Read more.
The allocation of innovation-related elements is influenced by intangible elements such as technological information, which affects knowledge capital, human capital, and material element investment, resulting in the stochastic change of technological innovation efficiency. The endogenous change in technological information in element investment reduces friction, lowers costs, improves efficiency, and gradually reduces the deviation between knowledge capital investment and technological innovation efficiency. In terms of small knowledge capital investment characterized by the low demand for technological information and a single source, it is easier to make more-accurate predictions, so the stochastic change in technological innovation efficiency tends to be gentle. The endogenous change in technological information continuously increases the proportion of replacing other elements with knowledge capital investment, and the efficiency of technological innovation improves steadily. Under the condition of unchanged investment in other elements, there is a great difference in the duration of technological information between the simultaneous selection and the successive selection of knowledge capital investment. When one-time instantaneous information and continuous complete information are respectively acquired, the stochastic variation of technological innovation efficiency is obvious. On the basis of the technological innovation data of 287 listed companies in eight industries, this paper compares and analyzes the measurement results of GMM and OLS to verify the above findings. Full article
(This article belongs to the Special Issue Business, Innovation, and Economics Sustainability)
16 pages, 1793 KiB  
Article
Success Factors Influencing Peer-to-Peer Lending to Support Financial Innovation
by Natnara Chulawate and Supaporn Kiattisin
Sustainability 2023, 15(5), 4028; https://doi.org/10.3390/su15054028 - 22 Feb 2023
Viewed by 4137
Abstract
The purpose of this study is to identify success factors that are conducive to developing the ability to create financial innovation within developing countries for the sake of sustainability. The purpose of this research is to contribute to the identification of success factors. [...] Read more.
The purpose of this study is to identify success factors that are conducive to developing the ability to create financial innovation within developing countries for the sake of sustainability. The purpose of this research is to contribute to the identification of success factors. The case study involves a peer-to-peer lending (P2P Lending) business operator in Thailand and focuses on the lender perspective. The results consist of 13 potential factors driving financial innovation in process improvement. The study collected data from 300 respondents through a structured questionnaire. The structural equation model was used to analyze the data via Mplus version 7. In order to gain a better understanding, we emphasize that each country’s financial business may show different success factors due to different situations and environments, which might pose a challenge when drawing conclusions from the survey and building sustainability in the financial industry. The research summarizes the factors of success in 3 contexts with 13 factors; namely, the risk context consists of a higher interest rate, inflation increase, macroeconomics, regulation laws, and legal, liquidity, and finance and credit status. The trust context includes demographic characteristics, biological characteristics, and an individual’s reputational capital, and the lender perspective information context includes loan delinquencies, funded loans, politics, and culture. According to our results, the investor or lender will benefit from bringing concepts and methods that involve adopting international loans. Full article
(This article belongs to the Special Issue Business, Innovation, and Economics Sustainability)
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18 pages, 292 KiB  
Article
Import Tariff Reduction and Fiscal Sustainability: A Macro-Econometric Modelling for Ethiopia
by Gollagari Ramakrishna, Berhanu Asefa Gizaw, Ch. Paramaiah, Robinson Joseph and Sania Khan
Sustainability 2023, 15(4), 3074; https://doi.org/10.3390/su15043074 - 08 Feb 2023
Cited by 1 | Viewed by 1400
Abstract
The main objective of this study is to examine the dynamic impact of import tariff reduction on major macroeconomic variables and its long-run implications for the fiscal sustainability of Ethiopia. In addition, it estimates the increase in the average consumption tax required to [...] Read more.
The main objective of this study is to examine the dynamic impact of import tariff reduction on major macroeconomic variables and its long-run implications for the fiscal sustainability of Ethiopia. In addition, it estimates the increase in the average consumption tax required to compensate for the possible tax revenue loss and fiscal sustainability. A Recursive Dynamic Computable General Equilibrium Model (RDCGEM) is used to assess the dynamic impact on macroeconomic variables of import tariff reduction and examine the increased consumption tax required. The study is novel as there are no studies in general, and for Ethiopia in particular in this regard. We use the available 2013/2014 base year macroeconomic data from national income accounts, fiscal accounts, and balance of payments accounts of Ethiopia. The RDCGEM is calibrated to the base year data, checked for correctness, and tested for robustness using sensitivity analysis. The model then is simulated for the import tariff reduction under the base case and under various tariff reduction scenarios based on which the macroeconomic impacts of tariff reduction are analyzed. Based on the RDCGM outputs, the fiscal sustainability impact of import tariff reduction is verified, and using a cointegration method, we examine the sustainability of fiscal policy. The results suggest a 95 percent import tariff reduction that negatively impacts the major macroeconomic variables. It also leads to long-term fiscal unsustainability. The joint reform of the country has relatively better impacts on major macroeconomic variables but slightly negative effects on household income and consumption. Full article
(This article belongs to the Special Issue Business, Innovation, and Economics Sustainability)
23 pages, 712 KiB  
Article
Does Industrial Policy Reduce Corporate Investment Efficiency? Evidence from China
by Ting Wang, Rujun Wang and Hua Zhang
Sustainability 2023, 15(1), 732; https://doi.org/10.3390/su15010732 - 31 Dec 2022
Cited by 1 | Viewed by 1670
Abstract
We investigate the impact and mechanism of industrial policy on corporate investment and investment efficiency. Using the micro-level data of A-share listed firms on China’s stock market from 2001–2020, we examine whether industrial policies have different effects on China’s state-owned enterprises (SOEs) and [...] Read more.
We investigate the impact and mechanism of industrial policy on corporate investment and investment efficiency. Using the micro-level data of A-share listed firms on China’s stock market from 2001–2020, we examine whether industrial policies have different effects on China’s state-owned enterprises (SOEs) and non-state-owned enterprises (non-SOEs). Moreover, we identify specific policy followers to further illustrate the impact of industrial policy on investment efficiency. The empirical results show that industrial policies promote investments among non-SOEs at the cost of reducing their investment efficiency, but have no effect on the investment and efficiency of SOEs. Government subsidy and inter-industry competition are the main mechanisms for the negative impact of industrial policy on investment efficiency. Moreover, target industrial policies reduce the investment efficiency of both SOE and non-SOE policy followers. Therefore, to achieve the goal of improving corporate investment efficiency and promoting sustainable economic development, policy-makers should pay more attention to the consequence of unnecessary government subsidy and excessive inter-industry competition. Full article
(This article belongs to the Special Issue Business, Innovation, and Economics Sustainability)
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26 pages, 1480 KiB  
Article
Impact of Trade Policy Uncertainty and Sustainable Development on Medical Innovation for Developed Countries: An Application of DID Approach
by Muhammad Nadir Shabbir, Muhammad Usman Arshad, Muhammad Amir Alvi and Kainat Iftikhar
Sustainability 2023, 15(1), 49; https://doi.org/10.3390/su15010049 - 20 Dec 2022
Cited by 3 | Viewed by 2171
Abstract
Covering the period from 1980 through 2020, with an emphasis on COVID-19, this paper analyzes how trade policy uncertainty and sustainable development policies affected investment in medical innovation. In a twofold difference-in-differences (DiD) approach, using autoregressive distributed lag (ARDL), the paper takes account [...] Read more.
Covering the period from 1980 through 2020, with an emphasis on COVID-19, this paper analyzes how trade policy uncertainty and sustainable development policies affected investment in medical innovation. In a twofold difference-in-differences (DiD) approach, using autoregressive distributed lag (ARDL), the paper takes account of exogenous and heterogeneous exposure to trade policy uncertainty and trade policy adjustment in developing nations, which limited tariff increases on imported products. Both long- and short-term effects have been analyzed. Beyond patent applications, margin responses, and exports, the study indicates that eliminating tariff uncertainty boosts innovation. Developing countries have had little effect on the long-term ramifications of sectoral innovation patterns, political shifts, and imported technology. A negative response to the innovation shock and a positive response by R&D corroborate bidirectional and unidirectional causality, respectively. They demonstrate a long-term link between medical innovation, trade policy uncertainty, and R&D spending. As regards sustainable development, GDP growth and HDI have positive, and GINI index and CO2 emissions, have negative long-run relations with medical innovation. This study contributes to the literature on innovation and policy uncertainty together with sustainable development factors in developed countries, and especially on innovation trends in the medical sector, where there is a current policy ambiguity regarding the influx of foreign technology and its significance. Full article
(This article belongs to the Special Issue Business, Innovation, and Economics Sustainability)
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13 pages, 532 KiB  
Article
Forex Investment Optimization Using Instantaneous Stochastic Gradient Ascent—Formulation of an Adaptive Machine Learning Approach
by Iqbal Murtza, Ayesha Saadia, Rabia Basri, Azhar Imran, Abdullah Almuhaimeed and Abdulkareem Alzahrani
Sustainability 2022, 14(22), 15328; https://doi.org/10.3390/su142215328 - 18 Nov 2022
Cited by 2 | Viewed by 1583
Abstract
In the current complex financial world, paper currencies are vulnerable and unsustainable due to many factors such as current account deficit, gold reserves, dollar reserves, political stability, security, the presence of war in the region, etc. The vulnerabilities not limited to the above, [...] Read more.
In the current complex financial world, paper currencies are vulnerable and unsustainable due to many factors such as current account deficit, gold reserves, dollar reserves, political stability, security, the presence of war in the region, etc. The vulnerabilities not limited to the above, result in fluctuation and instability in the currency values. Considering the devaluation of some Asian countries such as Pakistan, Sri Lanka, Türkiye, and Ukraine, there is a current tendency of some countries to look beyond the SWIFT system. It is not feasible to have reserves in only one currency, and thus, forex markets are likely to have significant growth in their volumes. In this research, we consider this challenge to work on having sustainable forex reserves in multiple world currencies. This research is aimed to overcome their vulnerabilities and, instead, exploit their volatile nature to attain sustainability in forex reserves. In this regard, we work to formulate this problem and propose a forex investment strategy inspired by gradient ascent optimization, a robust iterative optimization algorithm. The dynamic nature of the forex market led us to the formulation and development of the instantaneous stochastic gradient ascent method. Contrary to the conventional gradient ascent optimization, which considers the whole population or its sample, the proposed instantaneous stochastic gradient ascent (ISGA) optimization considers only the next time instance to update the investment strategy. We employed the proposed forex investment strategy on forex data containing one-year multiple currencies’ values, and the results are quite profitable as compared to the conventional investment strategies. Full article
(This article belongs to the Special Issue Business, Innovation, and Economics Sustainability)
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16 pages, 304 KiB  
Article
The Impact of U.S. Trade Policy Uncertainty on the Trade Margins of China’s Export to the U.S.
by Ruxu Zhang and Yahui Qu
Sustainability 2022, 14(22), 15101; https://doi.org/10.3390/su142215101 - 15 Nov 2022
Cited by 1 | Viewed by 1232
Abstract
Since the subprime crisis, the U.S. has begun to adjust its international trade policies due to the worldwide economic slowdown, leaving its trading partners facing great uncertainty in trade policy. In this study, we developed a panel model to empirically analyze the impact [...] Read more.
Since the subprime crisis, the U.S. has begun to adjust its international trade policies due to the worldwide economic slowdown, leaving its trading partners facing great uncertainty in trade policy. In this study, we developed a panel model to empirically analyze the impact of U.S. trade policy uncertainty on the extensive margin, intensive margin, price margin, and quantity margin of Chinese exports of U.S. goods. We found that U.S. trade policy uncertainty is also a trade barrier for China’s export trade. The extensive margin, intensive margin, price margin, and quantity margin of Chinese exports to the U.S. are all adversely connected with U.S. trade policy uncertainty. The increase in U.S. trade policy uncertainty significantly inhibits the increase in the extensive margin, intensive margin, and quantity margin of China’s exports to America, and the degree of inhibition of the quantity margin is five times that of the extensive margin. Increased U.S. trade policy uncertainty also restrains the increase in the price margin of Chinese exports to America, but this is not statistically significant. In this study, we emphasize the significant impact that U.S. trade policy uncertainty has had on the trade margins of Chinese exports of goods to America. To stabilize China’s exports to the United States, China should increase support for export enterprises’ technological R&D and innovation, expand bilateral or multilateral free trade agreements with other countries, and so on. Full article
(This article belongs to the Special Issue Business, Innovation, and Economics Sustainability)
12 pages, 3935 KiB  
Article
Gold and Bitcoin Optimal Portfolio Research and Analysis Based on Machine-Learning Methods
by Jingjing Li, Xinge Rao, Xianyi Li and Sihai Guan
Sustainability 2022, 14(21), 14659; https://doi.org/10.3390/su142114659 - 07 Nov 2022
Cited by 3 | Viewed by 1777
Abstract
In recent years, the bitcoin market has developed rapidly and has been recognized as a new type of gold by many investors. It may replace gold as a hedge against inflation and become a new investment asset for financial management. The investment relationship [...] Read more.
In recent years, the bitcoin market has developed rapidly and has been recognized as a new type of gold by many investors. It may replace gold as a hedge against inflation and become a new investment asset for financial management. The investment relationship with gold has increasingly important research value and practical significance. This paper modeled daily price flow data from 11 September 2016 to 10 September 2021 to help market traders determine whether they need to buy, hold, or sell assets in their portfolios daily. The model predicts price fluctuations through linear regression prediction of machine learning, K-Nearest Neighbor (KNN) algorithm. In the linear regression prediction, the goodness of fit of gold is 89.44%, and the goodness of fit of Bitcoin is 98.43%. In the test set prediction of KNN algorithm, the goodness of fit of gold is 97.25%, and the goodness of fit of Bitcoin is 95.06%. Based on this, the optimal investment strategy and the initial investment value are obtained. Empirical analysis shows that bitcoin price volatility and gold price volatility have a strong substitution effect; gold and currency used will be a suitable combination of hedging, which will bring momentum for the development of the market economy and become an important force in the sustainable development of a high-quality-driven economy. Full article
(This article belongs to the Special Issue Business, Innovation, and Economics Sustainability)
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17 pages, 1094 KiB  
Article
Research on SMEs’ Reputation Mechanism and Default Risk Based on Investors’ Financial Participation
by Xin Li and Xiujuan Tian
Sustainability 2022, 14(21), 14329; https://doi.org/10.3390/su142114329 - 02 Nov 2022
Cited by 3 | Viewed by 1038
Abstract
Small and micro enterprises (SMEs) play a significant role in the market economy. While online lending has brought financial inclusion for SMEs’ borrowers, it has also increased the default risk, which restricts the normative development of online lending. To explore the impact of [...] Read more.
Small and micro enterprises (SMEs) play a significant role in the market economy. While online lending has brought financial inclusion for SMEs’ borrowers, it has also increased the default risk, which restricts the normative development of online lending. To explore the impact of the reputation mechanism on borrowers’ default behavior, this paper provides a theoretical model of asymmetric information dynamic games under the online lending mechanism and an empirical study, which takes the number of bidders that reflects the investors’ participation as a proxy variable for the reputation effect factor. The theoretical model showed the borrowers’ default behavior is effectively restrained by the increase in the reputation effect factor in the reputation mechanism, and the empirical study found that an increase in the number of bidders can significantly reduce the risk of borrowers’ default, which verifies the conclusion of the theoretical model. Full article
(This article belongs to the Special Issue Business, Innovation, and Economics Sustainability)
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12 pages, 1381 KiB  
Article
Simulation Model-Based Research on the Technology Support System for China’s Real Estate Financial Risk Management
by Jia Guo, Lixuan Chen, Ge Gao, Sijia Guo and Xiuting Li
Sustainability 2022, 14(20), 13525; https://doi.org/10.3390/su142013525 - 19 Oct 2022
Cited by 2 | Viewed by 2233
Abstract
With technology and finance becoming increasingly integrated, it is imperative to use fintech to improve the capability to forestall and defuse major financial risks. As an area prone to financial risks, the real estate industry deserves in-depth research on the dynamics between risks [...] Read more.
With technology and finance becoming increasingly integrated, it is imperative to use fintech to improve the capability to forestall and defuse major financial risks. As an area prone to financial risks, the real estate industry deserves in-depth research on the dynamics between risks and technological capability (TC). In this paper, a simulation model was constructed with system dynamics to examine whether an improvement in TC can effectively improve risk management capability (RMC), and to explore the specific interaction between RMC and TC under six policy scenarios. We present the following findings: (1) TC has a significant supporting role in risk management; (2) increasing R&D financial input is more effective than increasing personnel input when it comes to improving TC; (3) whether it is a single input or multiple inputs of different types, increasing R&D financial input is also more effective than increasing personnel input when it comes to improving risk management; (4) overall, improvements in TC and RMC have a positive effect on social and economic development. This study not only makes clear the interconnection between TC and RMC and enriches the research content in this field, but also provide a reference for preventing and resolving major financial risks and promoting stable social and economic development. Full article
(This article belongs to the Special Issue Business, Innovation, and Economics Sustainability)
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20 pages, 1023 KiB  
Article
Human Capital, Market Environment, and Firm Innovation in Chinese Manufacturing Firms
by Xiuli Sun
Sustainability 2022, 14(19), 12642; https://doi.org/10.3390/su141912642 - 05 Oct 2022
Cited by 2 | Viewed by 1194
Abstract
This paper explored firm-level innovation in different market environments from a human capital point of view using both theoretical and empirical approaches. In the theoretical model, two firms compete with each other in a two-stage Cournot competition game, the innovation stage and production [...] Read more.
This paper explored firm-level innovation in different market environments from a human capital point of view using both theoretical and empirical approaches. In the theoretical model, two firms compete with each other in a two-stage Cournot competition game, the innovation stage and production stage. Theoretical results indicated that a firm’s innovation is not only determined by its human capital level, firm characteristics, and its market share, but also might be affected by market environment. In the empirical study, we used two firm-level datasets from China, one from metropolitan cities and one from mid-sized cities. Results show that skilled human capital is vital for firm innovation in metropolitan cities, while R&D plays an important role in firm innovation in mid-sized cities. The GM’s experience is more important for firms in metropolitan cities, while the GM’s education is more critical for firms in mid-sized cities. Moreover, GDP per capita has a positive effect on firm innovation in metropolitan cities, while it harms firm innovation in mid-sized cities. We further showed that the industry composition explanation could account for our results. Finally, we also tried IV estimation, and the related results are discussed. Full article
(This article belongs to the Special Issue Business, Innovation, and Economics Sustainability)
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15 pages, 552 KiB  
Article
The Impact of Factor Market Distortion on the Efficiency of Technological Innovation: A Spatial Analysis
by Qian Lu, Chao Hua and Jianjun Miao
Sustainability 2022, 14(19), 12064; https://doi.org/10.3390/su141912064 - 23 Sep 2022
Cited by 8 | Viewed by 1248
Abstract
The growth of scientific and technological innovation in China is facing a bottleneck under the influence of domestic and foreign environments. The economic internal circulation policy of China may explore new driving forces for innovation from the perspective of optimizing the efficiency of [...] Read more.
The growth of scientific and technological innovation in China is facing a bottleneck under the influence of domestic and foreign environments. The economic internal circulation policy of China may explore new driving forces for innovation from the perspective of optimizing the efficiency of production factor allocation. This research applies the provincial data from 2001 to 2017 to empirically investigate the spatial effects of factor market distortions on the efficiency of technological innovation. The DEA (Data envelopment analysis) model with variable returns to scale is exploited to measure the efficiency of technological innovation. The production function approach can be harnessed to measure labor market distortions and capital market distortions. The spatial correlation test results and the spatial econometric results regressed with three spatial weight matrices draw the following conclusions: (1) No matter how the spatial connection is established, the efficiency of the scientific and technological innovation in China shows a strong positive spatial correlation. (2) Labor market distortion and capital market distortion lead to low factor allocation efficiency, which inhibits the improvement of scientific and technological innovation efficiency. (3) When considering inter-regional economic connections, the inhibitory effect of factor market distortions on the efficiency of technological innovation shows spillover effects on surrounding areas. (4) Human capital and advanced industrial structure are conducive to the improvement of scientific and technological innovation efficiency. Optimizing the efficiency of factor market allocation can become a significant path for China to release new room for improvement in scientific and technological innovation. Full article
(This article belongs to the Special Issue Business, Innovation, and Economics Sustainability)
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30 pages, 672 KiB  
Article
Application of the Multicriteria Method Seeking to Assess Concentration, and Its Effects on Competition in the Manufacturing Sector
by Kęstutis Peleckis
Sustainability 2022, 14(19), 12062; https://doi.org/10.3390/su141912062 - 23 Sep 2022
Cited by 2 | Viewed by 1234
Abstract
(1) Background: comprehending market concentration and its implications is one of the most crucial aspects of studying and evaluating competition issues, and this is gaining increasing attention in companies’ sustainability research. Sustainability in the manufacturing industry refers to a company’s ability to continue [...] Read more.
(1) Background: comprehending market concentration and its implications is one of the most crucial aspects of studying and evaluating competition issues, and this is gaining increasing attention in companies’ sustainability research. Sustainability in the manufacturing industry refers to a company’s ability to continue operations over the long term. A manufacturing business must be able to ensure that it will have appropriate resources, labor, and consumers for its products well into the distant future in order to remain economically viable. At this time, market competition concentration influence is significant. The purpose of this article is to assess the viability of measuring the HHI in the implementation of business strategies in order to prevent market distortions in the manufacturing industry. (2) Methods: the distinguishing aspect of this paper is that it describes the capabilities of the fuzzy VIKOR approach for evaluating the HHI in order to avoid market distortion by studying the most important economic characteristics of the manufacturing market. (3) Results: the contribution of this study is the compilation of the HHI evaluation system in the manufacturing sector, with the goal of identifying the market conditions of corporate entities and facilitating the attainment of long-term market competitiveness. (4) Conclusions: a comparison of the multicriteria techniques approach and probability theories reveals that the industrial sector’s HHI-based performance may be measured. It is more adaptable to the organization’s actual decision-making procedure. The operation of manufacturing businesses in the market with the least amount of distortion can be significant for enhancing competitiveness not only at the national level, but also at the global level, particularly by enhancing reputation, reducing costs, responding to market demands, and adapting to market demands. The findings will be relevant for policymakers tasked with controlling market inefficiencies and fostering sustainable economic initiatives. Full article
(This article belongs to the Special Issue Business, Innovation, and Economics Sustainability)
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16 pages, 1512 KiB  
Article
Research on the Impact of Motorization Rate and Technological Development on Climate Change in Lithuania in the Context of the European Green Deal
by Bahman Peyravi, Valentina Peleckienė and Kristina Vaičiūtė
Sustainability 2022, 14(18), 11610; https://doi.org/10.3390/su141811610 - 15 Sep 2022
Cited by 4 | Viewed by 1409
Abstract
The challenges posed by climate change have increasingly been recognized over the few past decades. This article synthesizes current research on broad themes such as climate change, reducing CO2 emissions, increasing the production of electric cars, etc. Our literature review revealed that [...] Read more.
The challenges posed by climate change have increasingly been recognized over the few past decades. This article synthesizes current research on broad themes such as climate change, reducing CO2 emissions, increasing the production of electric cars, etc. Our literature review revealed that much of the research on these topics has focused on the growth rate of motorization, greenhouse gas emissions and technology for the reduction of pollution. However, more recently, scientists have turned their attention to greenhouse gas emissions due to the release of pollutants. Therefore, the authors analyzed the total greenhouse gas emissions per EU country in 2019 and ranked Lithuania among the 28 EU countries. The primary directions for reducing carbon dioxide emissions by driving electric cars are described. A hypothesis is considered, i.e., that investments by transport companies in technological development are related to pollution reduction in Lithuania. The development of new technologies by transport companies has a huge impact on reducing pollution; therefore, it is important to apply more new technologies in future. The paper describes research on Lithuanian transportation enterprises to examine the interactions between the investments by and technological growth of a transportation company. Based on expert assessments and calculations, the relative importance of the components of the transport company’s primary investment measures to minimize pollution are determined. Full article
(This article belongs to the Special Issue Business, Innovation, and Economics Sustainability)
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18 pages, 385 KiB  
Article
The Impact of Digital Technology Use on Passive Entrepreneurial Exit in Rural Households: Empirical Evidence from China
by Yiran Wang, Zhijian Cai and Jie Wang
Sustainability 2022, 14(17), 10662; https://doi.org/10.3390/su141710662 - 26 Aug 2022
Cited by 2 | Viewed by 1438
Abstract
To reduce the passive entrepreneurial exit of rural families and improve the quality of rural entrepreneurship, we theoretically discuss how digital technology can help rural families to obtain resources in the process of entrepreneurship from a micro perspective to inhibit the passive entrepreneurial [...] Read more.
To reduce the passive entrepreneurial exit of rural families and improve the quality of rural entrepreneurship, we theoretically discuss how digital technology can help rural families to obtain resources in the process of entrepreneurship from a micro perspective to inhibit the passive entrepreneurial exit, and perform an empirical test by using the data of three consecutive periods of China’s household finance survey in 2015, 2017, and 2019. The results show that: First, digital technology use has a significant inhibitory effect on the passive entrepreneurial exit of rural families. Second, the role of digital technology lies in effectively improving the social capital, human capital, and financial capital of entrepreneurial families, thus inhibiting the passive entrepreneurial exit of rural families. Third, the role of digital technology is related to the development level of village social networks and county economic development levels. The average marginal effect of data technology in villages or counties with high development levels is higher. The policy implications are as follows: We should accelerate the improvement of rural digital infrastructure construction, accelerate the expansion of digital services for the people, and enhance the ability of farmers to use digital technology while increasing policy support for farmers’ entrepreneurship. Full article
(This article belongs to the Special Issue Business, Innovation, and Economics Sustainability)
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Review

Jump to: Research

22 pages, 3049 KiB  
Review
Exploring the Landscape of Social Entrepreneurship and Crowdfunding: A Bibliometric Analysis
by Saurav Chandra Talukder and Zoltán Lakner
Sustainability 2023, 15(12), 9411; https://doi.org/10.3390/su15129411 - 12 Jun 2023
Cited by 5 | Viewed by 3846
Abstract
The aim of this article is to identify, synthesize, and evaluate the existing research on the nexus of the SE–crowdfunding domain. The researchers used a variety of bibliometric tools, Biblioshiny, and VOSviewer, to examine the scholarly literature on SE and crowdfunding from 2013 [...] Read more.
The aim of this article is to identify, synthesize, and evaluate the existing research on the nexus of the SE–crowdfunding domain. The researchers used a variety of bibliometric tools, Biblioshiny, and VOSviewer, to examine the scholarly literature on SE and crowdfunding from 2013 through 2022. The data were gathered from the Web of Science and Scopus databases, and the researchers ultimately collected 105 documents for the analysis. As can be seen from the findings, there has been a steady increase in the number of articles published in SE crowdfunding throughout the past decade. The USA seems to be the main research region for SE–crowdfunding literature. Both of the most prolific writers, Maija Renkor and Aaron H. Anglin, are also from the USA. The results also show that the Journal of Business Venturing Insights ranks first for most productive sources, followed by Technological Forecasting and Social Change, Business Horizons, Sustainability, and the Academy of Entrepreneurship Journal. The temporal diagram of co-occurrence analysis indicates that performance, impact, altruism, motivation, and commercialization are emerging topics in the SE–crowdfunding research field. Moreover, the result of the co-citation analysis found four themes in the SE–crowdfunding domain. These include ‘crowdfunding for social entrepreneurship’, ‘impact investing in social enterprises’, ‘crowdfunding as an innovative way to fund social entrepreneurship’, and ‘social innovation and crowdfunding’. In addition, the article provides a helpful starting point for policymakers and practitioners involved in obtaining funds for SE through crowdfunding by considering the associated technological, administrative, and organizational consequences. Full article
(This article belongs to the Special Issue Business, Innovation, and Economics Sustainability)
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23 pages, 1220 KiB  
Review
Convergence between Indicators for Measuring Sustainable Development and M&A Performance in the Energy Sector
by Karolis Andriuškevičius, Dalia Štreimikienė and Irena Alebaitė
Sustainability 2022, 14(16), 10360; https://doi.org/10.3390/su141610360 - 19 Aug 2022
Cited by 5 | Viewed by 2380
Abstract
The energy sector is experiencing various transformations. Simultaneously, merger and acquisition (M&A) activities in the sector are surging globally. Extensive research has focused on and analyzed M&As from the perspective of acquirer- and target-level financial performance. In comparison, a significantly lower number of [...] Read more.
The energy sector is experiencing various transformations. Simultaneously, merger and acquisition (M&A) activities in the sector are surging globally. Extensive research has focused on and analyzed M&As from the perspective of acquirer- and target-level financial performance. In comparison, a significantly lower number of studies have analyzed the macroeconomic impact of M&A activities. The field of and interests in sustainability have also been expanding in recent decades. Sustainable development goal 7 (SDG7), which calls for “affordable, reliable, sustainable and modern energy for all” by 2030, is among other sustainable development goals that were established by the UN (United Nations). However, the synthesis of indicators for measuring sustainable development and M&A performance remains a relatively vaguely explored field. Here, we perform SALSA (search, appraisal, synthesis, and analysis) and analyze which M&A and sustainable development performance indicators may be used when analyzing M&A within the energy sector. The employment of an eligible set of indicators measuring sustainable development and M&A performance may be used by practitioners, governments, and scholars for the purpose of monitoring, tracking, and the communication of the progress. The results imply that most popular sustainability measurements are indicators for sustainable energy development (ISED). There is a growing number of studies focusing on and applying country-specific methodologies. The measurement of M&A and sustainability performance faces difficulties in practice implementation due to a lack of availability of data, information, and databases, etc. Full article
(This article belongs to the Special Issue Business, Innovation, and Economics Sustainability)
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