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A special issue of Journal of Risk and Financial Management (ISSN 1911-8074). This special issue belongs to the section "Financial Technology and Innovation".

Deadline for manuscript submissions: closed (1 December 2023) | Viewed by 16097

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Special Issue Editors

Prof. Dr. Salvatore Ammirato

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Guest Editor

Department of Mechanical, Energy and Management Engineering, University of Calabria, Via P. Bucci, 46\C, 87036 Rende, CS, Italy
Interests: business process management; sustainability; ICT; tourism; digital entrepreneurship
Special Issues, Collections and Topics in MDPI journals

Dr. Alberto Michele Felicetti

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Guest Editor

Department of Mechanical, Energy and Management Engineering, University of Calabria, Arcavacata di Rende, CS, Italy
Interests: food information technologies; collaborative networks in agrifood; IoT technologies; supply chain management; innovation management
Special Issues, Collections and Topics in MDPI journals

Special Issue Information

Dear Colleagues,

In the past two years we have seen more digital transformation than in the last decade, and the future is paved with even more technologies whose adoption could potentially be disruptive for traditional business models (Marr, 2022). The accelerated diffusion of digital technologies is producing a deep impact on both socioeconomic environments worldwide and on the everyday life of individuals in an unprecedented way (Olanrewaju et al., 2020). From a business perspective, digital entrepreneurship is exploding around the globe, offering public and private investors opportunities to stimulate the speedy growth of digital enterprises (DEs) (Nambisan, 2019). DEs capitalize on the Internet by merging digital technologies, e.g., cloud computing, cybersecurity, blockchain, the Internet of things, big data, and artificial intelligence, in many different industries (finance, tourism, public administration, manufacturing, education, agribusiness, and others) (Corvello et al., 2022). In fact, both DEs, which harness technology to improve their performance and customer service through the digitalization of business, and more traditional enterprises are reinventing their business models in order to reduce financial risks and to gain more flexibility and agility in engaging with customers, stakeholders, and new strategic partners (e.g., universities, research centers, venture capitalists, and public administrations) (Ammirato et al., 2019).

This Special Issue welcomes both research papers and case studies devoted to analyzing the evolution of entrepreneurship and business models in the digital era. Suggested topics that are suitable and of interest include the following:

Digital revolution and entrepreneurial revolution;
Entrepreneurs’ behaviors and decision-making processes;
Digital business model innovation;
New technologies;
Impact of new technologies at the industry and/or firm level;
Business methods and business thinking;
Business processes management and innovation;
Emerging models of risk impacted by technology and finance;
Predictions of changes in behaviors and business over the next millennium.

References

Ammirato, Salvatore, Francesco Sofo, Alberto Michele Felicetti, Nina Helander, and Heli Aramo-Immonen. 2019. A new typology to characterize Italian digital entrepreneurs. The International Journal of Entrepreneurial Behaviour and Research 26:224-245

Corvello, Vincenzo, Verteramo, Saverino, Nocella, Isabella, and Ammirato, Salvatore. 2022. Thrive during a crisis: the role of digital technologies in fostering antifragility in small and medium-sized enterprises. Journal of Ambient Intelligence and Humanized Computing, 1-13.

Marr Bernard . 2022. The 5 Biggest Technology Trends In 2023 Everyone Must Get Ready For Now. Fobres. Available online: https://www.forbes.com/sites/bernardmarr/2022/09/26/the-5-biggest-technology-trends-in-2023-everyone-must-get-ready-for-now/?sh=2f34091955d9#open-web-0 (accessed on 29 September 2022)

Nambisan, Satish, Mike Wright, and Maryann Feldman. 2019. The digital transformation of innovation and entrepreneurship: Progress, challenges and key themes. Research Policy 48: 1037-1073.

Olanrewaju, Abdus-Samad Temitope, Mohammad Alamgir Hossain, Naomi Whiteside, and Paul Mercieca. 2020. Social media and entrepreneurship research: A literature review. International Journal of Information Management 50: 90-110.

Prof. Dr. Salvatore Ammirato
Dr. Alberto Michele Felicetti
Guest Editors

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. Journal of Risk and Financial Management is an international peer-reviewed open access monthly 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 1400 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

entrepreneurship
digital platforms
business models/processes
knowledge/information management
start-up/scale-up companies
performance/risk management
academic entrepreneurship
fintech
eTourism
Industry 4.0
eAgribusiness
digital education
digital marketing
social media
internet of things
artificial intelligence/machine learning
cybersecurity

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Published Papers (5 papers)

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Research

13 pages, 435 KiB

Open AccessArticle

Pinpointing the Driving Forces Propelling Digital Business Transformation

by Andrej Miklosik and Alexander Bernhard Krah

J. Risk Financial Manag. 2023, 16(11), 488; https://doi.org/10.3390/jrfm16110488 - 18 Nov 2023

Viewed by 2095

Abstract

Comprehending the motivating factors that drive Digital Business Transformation (DBT) is crucial for cultivating success in DBT initiatives. The objective of the research outlined in this paper was to pinpoint and categorize the factors that inspire companies to embark on the DBT journey. Through qualitative analysis, employing expert interviews as the method, the authors extracted the necessary information to address three key research questions: (i) What are the external drivers of DBT in the plastic extrusion machine industry? (ii) Which internal factors are driving DBT in these companies? (iii) Is there anything else significantly impacting the DBT initiatives? The identified driving forces propelling DBT in German businesses within this industry include external factors: skill shortage, social impact, COVID-19, supply bottlenecks, competitiveness, and customer requirements; internal factors: cost reduction, process acceleration, efficiency increases, and time savings; and mixed factors: attitude of young people, basic education, and work–life balance. The insights derived from this research enhance the understanding of the circumstances and dynamics of traditional companies across other Western European countries. Our findings enrich the existing theory by presenting a distinctive threefold categorization of the drivers behind DBT, providing unique insights into the factors propelling the advancement of DBT initiatives. Full article

(This article belongs to the Special Issue Recent Development in the Entrepreneurship and Business Models in the Digital Era)

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17 pages, 771 KiB

Open AccessArticle

Financial Sustainability of Digitizing Cultural Heritage: The International Platform Europeana

by Elena Borin and Fabio Donato

J. Risk Financial Manag. 2023, 16(10), 421; https://doi.org/10.3390/jrfm16100421 - 22 Sep 2023

Cited by 1 | Viewed by 2192

Abstract

In recent years, the increasing demand for digital cultural content has intensified the digitization challenges for cultural organizations. Among these difficulties, cultural organizations have been struggling to find the financial resources for digitizing their cultural heritage, as well as for storing data, developing digital skills, and implementing enhancement and management processes for their digitized materials. The financial sustainability of digitization projects has therefore been problematic, especially for small and medium organizations. In this framework, among its attempts to solve these issues, the European Union has launched the project Europeana, a digital platform uniting European digitized heritage and empowering cultural organizations through a variety of services. The aim of our research was to investigate the Europeana project to understand how it eases the financial costs of digitization for cultural organizations, and how the Europeana model could bring insights into how to improve the financial sustainability of digitization of cultural heritage. Full article

(This article belongs to the Special Issue Recent Development in the Entrepreneurship and Business Models in the Digital Era)

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11 pages, 585 KiB

Open AccessArticle

Supply Chain Risk Management in a Digital Era: Evidence from SMEs of Clothing Retailers in Australia

by Mehadi Mamun

J. Risk Financial Manag. 2023, 16(4), 242; https://doi.org/10.3390/jrfm16040242 - 15 Apr 2023

Cited by 1 | Viewed by 3255

Abstract

With the increased globalisation and disruptions faced by businesses in this digital era and the occurrence of natural disasters such as floods and disease outbreaks in the world, supply chain risks and management of those risks are major challenges for businesses, especially for SMEs of clothing retailers in Australia. This study, hence, is carried out using an exploratory case study research method, and the data have been collected through semi-structured face-to-face interviews with key informants from managerial levels of 20 Australian SMEs of clothing retailing businesses to identify various supply chain risks and their management processes. This study finds five supply chain risks, namely supply risk, demand risk, financial risk, environmental risk, and operational risk, that the SMEs of clothing retailers mostly face in the supply chain. This study also finds that most of the investigated retailers lack a formal risk identification approach, though they informally use the reactive and proactive methods of risk identification. Furthermore, the assessment methods are not well established in most of the participating firms, and supplier monitoring receives more attention compared to their own performance to deal with their supply chain risks. This study contributes to the body of knowledge by being one of the first empirical studies to explore the SMEs of clothing retailers’ supply chain risks and their management processes in the Australian business context, which can add value in guiding supply chain design decisions for SMEs in other sectors. Full article

(This article belongs to the Special Issue Recent Development in the Entrepreneurship and Business Models in the Digital Era)

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21 pages, 694 KiB

Open AccessArticle

Digital Explosion and Entrepreneurship Education: Impact on Promoting Entrepreneurial Intention for Business Students

by Amal Dabbous and Nada Mallah Boustani

J. Risk Financial Manag. 2023, 16(1), 27; https://doi.org/10.3390/jrfm16010027 - 3 Jan 2023

Cited by 18 | Viewed by 6093

Abstract

This study aims to examine the effect of entrepreneurship education and artificial intelligence (AI) development on entrepreneurial intentions while investigating the mediating role of perceived behavioral control. The proposed model also accounts for individual and contextual socioeconomic factors. This study tries to fill the gap in the entrepreneurship literature, which is still lacking with respect to the impact of new technologies on entrepreneurship intentions and shows conflicting results regarding the influence of entrepreneurship education. Our study surveyed 223 business students in Lebanon. The context of this study is of high importance, particularly since the country is currently facing a deep, multifaced political, economic, and financial crisis, and entrepreneurship might be considered an important channel for generating basic sources of income, steering the recovery process, and increasing Lebanese resilience against this highly unstable economy. The structural equation modeling technique (SEM) was conducted to validate the hypotheses. The results show that perceived behavioral control fully mediates the relations between performance expectancy of AI solutions, entrepreneurship education, and entrepreneurial intention. Risk aversion and social support exert a direct impact on entrepreneurial intentions. The findings highlight the need to account for entrepreneurship education and AI development when analyzing entrepreneurial intentions. Full article

(This article belongs to the Special Issue Recent Development in the Entrepreneurship and Business Models in the Digital Era)

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24 pages, 6011 KiB

Open AccessArticle

Assessment of Readiness of Croatian Companies to Introduce I4.0 Technologies

by Rajka Hrbić and Tomislav Grebenar

J. Risk Financial Manag. 2022, 15(12), 558; https://doi.org/10.3390/jrfm15120558 - 28 Nov 2022

Cited by 1 | Viewed by 1613

Abstract

The main topic of this paper is to estimate the possibility and inclination of Croatian companies towards technology and innovation as well as to analyze advantages, limitations and risks involved with this significant technological leap. We analyzed 7147 Croatian business entities operating in different industries in this paper. The starting point in this research is to identify subjects, which could be users of I4.0 or its elements, based on the similarity of indicators with indicators of a sample of 58 identified I4.0 companies. We developed a machine-learning model by using the eXtreme Gradient Boosting algorithm (XGBoost) for this purpose, an approach that has not been used in any similar research. This research shows that the main difference between I4.0 and traditional industry is mostly observable in significantly better business performance of investment indicators, cost efficiency, technical equipment and market competitiveness. We identified 141 companies (1.97% of total analyzed sample) as potential users of I4.0, which makes up around 27% of total assets of the analyzed sample and around 26% of revenues. Full article

(This article belongs to the Special Issue Recent Development in the Entrepreneurship and Business Models in the Digital Era)

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