Research

16 pages, 622 KiB

Open AccessArticle

Innovative Work Behavior—A Key Factor in Business Performance? The Role of Team Cognitive Diversity and Teamwork Climate in This Relationship

by Nadežda Jankelová, Zuzana Joniaková and Juraj Mišún

J. Risk Financial Manag. 2021, 14(4), 185; https://doi.org/10.3390/jrfm14040185 - 19 Apr 2021

Cited by 17 | Viewed by 6524

Abstract

The aim of our paper is to examine whether the support of innovative work behavior by management is positively related to business performance and at the same time, whether this relationship is mediated by the teamwork climate and cognitive diversity of teams. Cognitive [...] Read more.

The aim of our paper is to examine whether the support of innovative work behavior by management is positively related to business performance and at the same time, whether this relationship is mediated by the teamwork climate and cognitive diversity of teams. Cognitive diversity is defined as differences in knowledge and perspective, which arise from professional diversity and account for its positive effects. A teamwork climate represents staff perceptions of collaboration between personnel. Business performance is defined by the level of sales. Our sample consisted of 211 managers of companies operating in Slovakia, and data collection took place in the form of a questionnaire. The main tool for examining the mechanism of operation of the investigated relationships is mediation using regression analysis and the Sobel test to determine the significance of the indirect effect of mediation variables. The findings point to a significant direct relationship between the innovative work behavior of company employees and business performance. The intensity of this relationship can be partly influenced by promoting cognitive diversity, especially in the area of knowledge and ways of thinking. The significant role of a teamwork climate was not demonstrated in the examined model. Full article

(This article belongs to the Special Issue Innovation, Internationalization and Entrepreneurship)

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13 pages, 322 KiB

Open AccessArticle

Impact of Capital Structure on Corporate Value—Review of Literature

by Sylwia Kruk

J. Risk Financial Manag. 2021, 14(4), 155; https://doi.org/10.3390/jrfm14040155 - 01 Apr 2021

Cited by 3 | Viewed by 9078

Abstract

The issue of capital structure in an enterprise is often described in the literature on the subject; however, theories are classified into various approaches, and their characteristics are often limited to selected theories. This work is an attempt at a synthetic presentation of [...] Read more.

The issue of capital structure in an enterprise is often described in the literature on the subject; however, theories are classified into various approaches, and their characteristics are often limited to selected theories. This work is an attempt at a synthetic presentation of the theory of capital structure. The aim of the article was to review and try to organise the most important theories of capital structure, paying attention to the influence of capital structure on the processes of creating value. The paper also highlights the most important theoretical works in this area. The study consists of two main parts. The first part indicates the diversity of defining the concepts of capital structure and indicates the approaches in classifying this structure. The second part characterises the theories of capital structure in the context of value creation. Based on the presented theories, it can be stated that there is no agreement as to whether and to what extent capital structure translates into the process of creating enterprise value. Therefore, it seems justified to conduct appropriate empirical research in this respect. Full article

(This article belongs to the Special Issue Innovation, Internationalization and Entrepreneurship)

14 pages, 624 KiB

Open AccessArticle

Valuing Dynamic Capabilities-Based Synergies with Real Options

by Andrejs Čirjevskis

J. Risk Financial Manag. 2021, 14(2), 69; https://doi.org/10.3390/jrfm14020069 - 07 Feb 2021

Cited by 3 | Viewed by 2872

Abstract

Acquisition-based dynamic capabilities have become well established as a new imperative for organizing mergers and acquisitions (M&A) processes. However, understanding the full benefits and possible limits of real options applications to measure a dynamic capability-based synergy in M&A deals remains a challenge. This [...] Read more.

Acquisition-based dynamic capabilities have become well established as a new imperative for organizing mergers and acquisitions (M&A) processes. However, understanding the full benefits and possible limits of real options applications to measure a dynamic capability-based synergy in M&A deals remains a challenge. This paper draws on real options theory to explore some of these benefits and limits to value a synergy in two highly strategic M&A deals. More specifically, the author develops the proposition that justifies the role of dynamic capabilities as antecedents of the success of M&A deals in the information and communications technology industry and demonstrates real options application to measure M&A synergies. Full article

(This article belongs to the Special Issue Innovation, Internationalization and Entrepreneurship)

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12 pages, 245 KiB

Open AccessArticle

Emergency Management in Resolving an Emergency Situation

by Irena Tušer and Sarka Hoskova-Mayerova

J. Risk Financial Manag. 2020, 13(11), 262; https://doi.org/10.3390/jrfm13110262 - 30 Oct 2020

Cited by 6 | Viewed by 2134

Abstract

Experience gained from NATO operations shows that the basis for an effective solution to a crisis is a combination of a comprehensive political, civilian and military approach. The cooperation of all stakeholders is thus a basic prerequisite for the effective resolution of crisis [...] Read more.

Experience gained from NATO operations shows that the basis for an effective solution to a crisis is a combination of a comprehensive political, civilian and military approach. The cooperation of all stakeholders is thus a basic prerequisite for the effective resolution of crisis situations. These aspects and stakeholders include emergency management. This paper deals with civil-military cooperation in times of emergency caused by the COVID-19 pandemic in the Czech Republic. It qualitatively evaluates the findings resulting from the questionnaire survey focused on the state of crisis preparedness of the Army of the Czech Republic and the functionality of emergency management in cooperation with rescue work with other teams of the rescue system. The questionnaire was carried out at military units in all regions of the Czech Republic; organizational units of the Ministry of Defence with nationwide competence, which were directly involved in securing measures related to the declaration of a state of emergency due to the COVID-19 pandemic in March—May, 2020; Operations Command, which currently manages operations in the Czech Republic designed to manage the consequences of a pandemic; and members of the Ministry of Defence participating in the activities of the Strategic Command and Control Group. A total of 21 stakeholders took part. The experience in managing the consequences of the COVID-19 pandemic have shown that armed forces around the world have an irreplaceable position in dealing with nonmilitary crises. The conclusions and recommendations obtained from the research survey are the content of this paper. Full article

(This article belongs to the Special Issue Innovation, Internationalization and Entrepreneurship)

27 pages, 1988 KiB

Open AccessArticle

Mixed Methods Utilisation in Innovation Management Research: A Systematic Literature Review and Meta-Summary

by Klaudia Bracio and Marek Szarucki

J. Risk Financial Manag. 2020, 13(11), 252; https://doi.org/10.3390/jrfm13110252 - 27 Oct 2020

Cited by 5 | Viewed by 4369

Abstract

The main purpose of this article is to explore the application of mixed methods research in the innovation management sub-discipline utilizing a systematic literature review and meta-summary analysis. Regardless of the growing number of studies in innovation management there is still a lack [...] Read more.

The main purpose of this article is to explore the application of mixed methods research in the innovation management sub-discipline utilizing a systematic literature review and meta-summary analysis. Regardless of the growing number of studies in innovation management there is still a lack of research that integrates and synthesizes this body of knowledge. Our review of 93 articles from Web of Science and Scopus databases, including content analysis, presents trends and research background in innovation management that use the mixed methods approach. This study addresses the inconsistencies in the literature and presents a holistic picture of what existing empirical studies have found to date. In addition, we have developed an innovation management model based on selected theoretical lenses to enable future researchers in a given area to choose the appropriate method. The results of the meta-summary show that 50.54% articles from our dataset are related to partially mixed dominant sequential methods, 12.90% fully mixed dominant sequential methods and 11.83% fully mixed dominant concurrent methods. We identified several research gaps and provided a future research avenue in the context of innovation management. The article analyzes empirical papers, enables identification of problems in the current research and identifies trends in the area of the studied phenomenon. The results on the topic of mixed methods in innovation management and used tools have indicated that this issue is still in a premature phase but with an upward trend of research development. Full article

(This article belongs to the Special Issue Innovation, Internationalization and Entrepreneurship)

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11 pages, 219 KiB

Open AccessCommunication

The Link between Business Process Management and Quality Management

by Inga Stravinskiene and Dalius Serafinas

J. Risk Financial Manag. 2020, 13(10), 225; https://doi.org/10.3390/jrfm13100225 - 25 Sep 2020

Cited by 12 | Viewed by 7480

Abstract

In an environment of intense globalization and digitalization, business organizations are increasingly faced with various challenges such as rising costs, strong competition, rapidly evolving technologies, increasingly demanding and whimsical consumers, and, in social terms, changing societal demands. It is within this context that [...] Read more.

In an environment of intense globalization and digitalization, business organizations are increasingly faced with various challenges such as rising costs, strong competition, rapidly evolving technologies, increasingly demanding and whimsical consumers, and, in social terms, changing societal demands. It is within this context that the effectiveness and efficiency of the management of business organizations is actualized. The paper addresses the following fundamental questions regarding the scientific problem at the theoretical level: What is the place of Business Process Management (BPM) in the context of Quality Management (QM)? Should BPM be the axis of QM? There is a lack of interdisciplinary research on the link between Business Process Management and Quality Management, and this study aims to ground this link. Methods of the research are literature review and the critical analysis of the scientific sources on the issue. The findings show that there exists confusion, overlaps among different paradigms of QM and BPM. The BPM paradigm might be considered as an integral part of almost all essential quality management paradigms. BPM is like a horizontal area “crossing” different paradigms of quality management (e.g., TQM, SMS, Lean, Six Sigma). The conclusions drawn are useful for organizations that implement quality management systems. The integration of BPM into quality management systems and tools creates preconditions for the development of an effective and efficient organization. Full article

(This article belongs to the Special Issue Innovation, Internationalization and Entrepreneurship)

23 pages, 615 KiB

Open AccessArticle

Impact of Value Co-Creation on International Customer Satisfaction in the Airsoft Industry: Does Country of Origin Matter?

by Gabriela Menet and Marek Szarucki

J. Risk Financial Manag. 2020, 13(10), 223; https://doi.org/10.3390/jrfm13100223 - 24 Sep 2020

Cited by 5 | Viewed by 4564

Abstract

The paper’s objective is to investigate the impact of value proposition co-creation on international customer satisfaction in the airsoft industry. This empirical paper aims at answering a question “Which factors influence satisfaction of the international customers involved in the process of value co-creation [...] Read more.

The paper’s objective is to investigate the impact of value proposition co-creation on international customer satisfaction in the airsoft industry. This empirical paper aims at answering a question “Which factors influence satisfaction of the international customers involved in the process of value co-creation in the airsoft industry” and sets a hypothesis that value co-creators’ country of origin has a positive impact on customers’ satisfaction. A case study approach of an entrepreneurial company (GATE) was supplemented with data collected via a survey (n = 176), where consumers’ perception of the firm’s value proposition and its influence on their satisfaction were investigated. The study contributes to the value creation theory by identifying the main factors influencing customer satisfaction in the airsoft industry and verifying whether the co-creators’ origin affects the factors’ ratings. The results indicate that the most crucial factors influencing international customer satisfaction in this industry are quality level and product functionality and that the country of origin of customers has no significant impact on international customer satisfaction. Full article

(This article belongs to the Special Issue Innovation, Internationalization and Entrepreneurship)

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20 pages, 3222 KiB

Open AccessArticle

Mapping the Scientific Research on Mass Customization Domain: A Critical Review and Bibliometric Analysis

by Gedas Baranauskas, Agota Giedrė Raišienė and Renata Korsakienė

J. Risk Financial Manag. 2020, 13(9), 220; https://doi.org/10.3390/jrfm13090220 - 21 Sep 2020

Cited by 6 | Viewed by 3694

Abstract

Researchers of the Mass Customization domain face not only challenges of proper and timeless identification of latest practical trends, but also difficulties in rational analyses on the numerous existing scientific studies in this field as well as a need for a comprehensive and [...] Read more.

Researchers of the Mass Customization domain face not only challenges of proper and timeless identification of latest practical trends, but also difficulties in rational analyses on the numerous existing scientific studies in this field as well as a need for a comprehensive and multidimensional state-of-the-art overview of the Mass Customization research domain in the last three decades. Therefore, the present research article aims to provide a critical standpoint and reveal the main research directions and content at systemic, bibliometric and historical research levels in the period of 1990–2020. Four types of bibliometric clustering techniques and a visualization of results in a format of two-dimensional maps by the VOSviewer software were applied in the analysis on 1783 scientific papers from the Clarivate Analytics Web of Science Core Collection. The analysis reveals six historical periods in the Mass Customization research domain, from which, in the last three decades, three are identified as influencing modern Mass Customization research areas and objects. Results confirmed a shift from a stand-alone scientific approach to the customization of tangible products in the manufacturing field and their risk management, to a hybrid scientific approach with a focus on the customization of non-tangible products and personalized customer behavior in online environments. Full article

(This article belongs to the Special Issue Innovation, Internationalization and Entrepreneurship)

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16 pages, 8080 KiB

Open AccessArticle

Current Research Trends on Interrelationships of Eco-Innovation and Internationalisation: A Bibliometric Analysis

by Paulius Šūmakaris, Deniss Ščeulovs and Renata Korsakienė

J. Risk Financial Manag. 2020, 13(5), 85; https://doi.org/10.3390/jrfm13050085 - 27 Apr 2020

Cited by 8 | Viewed by 3117

Abstract

In this paper, bibliometric analysis is conducted on eco-innovation and internationalisation, since in the scientific literature, both research fields have been considered as being interrelated. Although the adoption of eco-innovation and internationalisation are risky processes, they reduce competitive risk and increase performance in [...] Read more.

In this paper, bibliometric analysis is conducted on eco-innovation and internationalisation, since in the scientific literature, both research fields have been considered as being interrelated. Although the adoption of eco-innovation and internationalisation are risky processes, they reduce competitive risk and increase performance in a highly competitive business environment. The main objective of this study is to identify current research trends on the interrelationships of eco-innovations and internationalisation as well as the main areas of knowledge and to provide a general overview of research streams that can be classified using by papers, authors and journals found in the Web of Science database. In total, 1677 publications published between 1991 and 2020 related to eco-innovations and internationalisation were taken into consideration. For the visualisation of bibliographic material, VOSviewer software was used. These findings provide valuable insights by revealing the trends and highlighting the possible research streams for future investigations in the field of eco-innovations and internationalisation research. Full article

(This article belongs to the Special Issue Innovation, Internationalization and Entrepreneurship)

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