Search Results (69)

This paper explores the role of export-oriented firms in shaping regional economic development, with a focus on their operational footprint, strategic orientation, and interaction with institutional and infrastructural environments. Set within the broader context of regional competitiveness and sustainable growth, the study examines how firms in geographically peripheral and structurally challenged areas position themselves within global markets. Emphasis is placed on understanding the internal and external factors that influence export performance, innovation capacity, and the integration of sustainability principles into business practices. The research adopts a survey-based methodology, collecting data from firms located in a cross-border region to assess their perceptions of trade barriers, infrastructure needs, strategic values, and environmental awareness. The analysis draws on established frameworks in regional development, international business, and sustainability transitions, offering a multidimensional perspective on firm behavior. By linking firm-level insights with regional development policy, the study contributes to ongoing discussions around how enterprises in remote regions can overcome structural constraints and engage more fully with global value chains. It also supports the growing call for place-based, context-sensitive strategies that align economic competitiveness with innovation, digital transformation, and environmental responsibility. This integrated approach offers valuable implications for both policymakers and practitioners concerned with fostering inclusive and resilient regional economies. Full article

Previous research on supply chain dependence has predominantly focused on large firms, leaving a significant gap in the literature regarding small and medium-sized enterprises (SMEs), an often overlooked but crucial sector of the economy. This study aims to address this gap by examining the relationship between supply chain dependence (i.e., supplier dependence, customer dependence) and SMEs’ performance—specifically profit and growth. We employ a multiple linear regression model with two-way fixed effects (firm and year) to analyze data from SMEs listed on China’s National Equities Exchange and Quotations (NEEQ) from 2013 to 2020, investigating the impact of supplier dependence and customer dependence on SMEs’ profitability and growth. We find that customer dependence has a significant positive effect on both SMEs’ profit and growth, while supplier dependence negatively impacts SMEs’ profit but does not significantly affect SMEs’ growth. Additionally, we conduct a heterogeneity analysis to explore how the influences of supplier dependence and customer dependence on SMEs’ performance vary based on SMEs’ characteristics, such as age, initial size, and innovation orientation. This research not only enhances the existing literature on supply chain dependence by providing insights specific to SMEs but also offers practical recommendations for improving supply chain management strategies within these firms. Full article

Indonesia’s pursuit of the Indonesia Emas 2045 vision emphasizes sustainable economic growth and equitable prosperity, with strategic initiatives such as establishing a new national capital and enhancing infrastructure to bolster economic competitiveness. This study examines the relationship between Strategic Orientation and Sustainable Firm Performance, with Firm Competitive Advantage as a mediator and Dynamic Environment as a moderator. Using data collected from 474 private companies affiliated with the Indonesian Chamber of Commerce and Industry between September and December 2024, and analyzed via Structural Equation Modeling with SmartPLS4, the findings demonstrate that Strategic Orientation significantly enhances Firm Competitive Advantage, which partially mediates its impact on Sustainable Firm Performance. Moreover, Dynamic Environment amplifies the Strategic Orientation–Firm Competitive Advantage relationship. The study contributes to the Resource-Based View and Dynamic Capability Theory, providing actionable insights for private firms to enhance strategic adaptability and for policymakers to foster private sector sustainability amidst market dynamics. Full article

In this study, we introduce a detailed framework for predicting market conditions and selecting stocks by integrating machine learning techniques with ontological financial analysis. The process starts with ontology-based stock selection, categorizing companies using fundamental financial indicators such as liquidity, profitability, debt ratios, and growth metrics. For instance, firms showcasing favorable debt-to-equity ratios along with robust revenue growth are identified as high-performing entities. This classification facilitates targeted analyses of market dynamics. To predict market states—categorizing them into bull, bear, or neutral phases—the framework utilizes a Non-Stationary Markov Chain (NMC), BERT, to assess sentiment in financial news articles and Long Short-Term Memory (LSTM) networks to identify temporal patterns. Key inputs like the Sentiment Index (SI) and Illiquidity Index (ILLIQ) play essential roles in dynamically influencing regime predictions within the NMC model; these inputs are supplemented by variables including GARCH volatility and VIX to enhance predictive precision further still. Empirical findings demonstrate that our approach achieves an impressive 97.20% accuracy rate for classifying market states, significantly surpassing traditional methods like Naive Bayes, Logistic Regression, KNN, Decision Tree, ANN, Random Forest, and XGBoost. The state-predicted strategy leverages this framework to dynamically adjust portfolio positions based on projected market conditions. It prioritizes growth-oriented assets during bull markets, defensive assets in bear markets, and maintains balanced portfolios in neutral states. Comparative testing showed that this approach achieved an average cumulative return of 13.67%, outperforming the Buy and Hold method’s return of 8.62%. Specifically, for the S&P 500 index, returns were recorded at 6.36% compared with just a 1.08% gain from Buy and Hold strategies alone. These results underscore the robustness of our framework and its potential advantages for improving decision-making within quantitative trading environments as well as asset selection processes. Full article

The study evaluates the interest of business-educated Gen Z in pursuing careers in various industries and their potential to accelerate Green Innovation (GI). It specifically focuses on Gen Z in Europe, who are business-educated and pursuing their career in different industry sectors, and aiming to address climate change and sustainable practices. By adopting Green Entrepreneurial Orientation (GEO) and building Absorptive Capacity (AC), companies can significantly contribute to improving Environmental Orientation (EO) by appealing to Gen Z—their future employees and customers. The study aims to survey 280 business-educated Gen Z people in Europe. The findings of the study show that the relationship between absorptive capacity and environmental orientation is not always significant, and the impact can be negligible, specifically when the firms have a low commitment to environmental strategies and have a limited strategic emphasis on sustainable practices. The study aims to encourage innovation and sustainable growth among firms, opening the door to a more sustainable future and attracting goodwill from environmentally oriented Generation Z. The publication/article presents the results of the project financed from the subsidy granted to the Krakow University of Economics. Full article

Innovation and productivity improvements are essential drivers of economic growth, social stability, and sustainable development. As a high-risk, long-term activity, innovation requires external support, especially from the financial sector. In response, governments have introduced various financial support policies, yet their effectiveness remains debatable. Using panel data from Chinese listed firms between 2006 and 2022, we examined the impact of an innovation-oriented financial support initiative in China—the Technology and Finance Integration (TFI) pilot—on firm innovation and total factor productivity (TFP). This quasi-natural experiment effectively alleviated endogeneity and helped us establish the causality. Our results show that TFI significantly enhances both the quantity and quality of firms’ innovation, as well as TFP. Furthermore, we found that the policy effects are more pronounced in firms with higher perceived uncertainty, in private firms, and in those located in regions with advanced financial development. Improved liquidity conditions, increased R&D investment, and better asset allocation constitute plausible mechanisms for interpreting our results. Theoretically, this paper complements the research on the nexus between financial support and innovation activity, shedding light on the underlying mechanisms. Practically, our findings provide valuable insights for the formulation of financial policies to promote innovation, particularly in developing countries that lack sufficient R&D incentives and effective market mechanisms to drive technical upgrading and productivity growth. Full article

Against the backdrop of globalization, the complexity of supply chains has been increasing, making supply chain resilience a critical factor in ensuring the stable operation of enterprises, national economies, and international trade. This paper adopts a network modeling perspective to systematically review the theoretical foundations and research progress in supply chain resilience, focusing on the application of network modeling methods. First, the concept of supply chain resilience is defined, and its developmental trajectory is reviewed. Through literature visualization analysis, this study delves into the current state of research on supply chain resilience, addressing challenges and risk management, highlighting the importance of network modeling techniques in this field. Subsequently, it explores supply chain network modeling based on complex networks and agent-based modeling, analyzing their strengths and limitations in simulating the overall evolution of supply chains and the dynamic behavior of individual entities. By integrating network structural characteristics with resilience evaluation methods, this paper suggests potential directions for future research. These include enhancing the description of individual firm behavior, analyzing the dynamics of information networks, and emphasizing task-oriented model design, thereby offering new perspectives and pathways for managing supply chain resilience in a way that can generate significant positive externalities for global economies. This research also indicates that the enhanced resilience of supply chains can produce a multiplier effect, benefiting not only individual firms but also promoting economic stability and growth across multiple countries. Full article

At different lifecycle stages, enterprises possess differentiated resource endowments and innovation needs, leading to variations in the effect of carbon emission trading policies on their green innovation. This study analyzes the impact of China’s carbon emission trading policy on green innovation, using A-share listed firms in Shanghai and Shenzhen between 2010 and 2022 as samples, from the perspective of the enterprise lifecycle. The results validate the Porter hypothesis, showing that the policy stimulates green innovation, especially in the growth and maturity stages of enterprises. However, the extent of this impact varies across enterprise scale heterogeneity, heterogeneity in the proportion of independent directors, heterogeneity in the level of green innovation and regional heterogeneity. The carbon emission trading policies can mitigate financing constraints and improve capital investment to foster green innovation, especially for mature enterprises. The findings not only enhance the theoretical investigation of flexible market-oriented environmental regulatory mechanisms but also provide valuable insights for advancing the growth of China’s low-carbon economy. Full article

Improving energy efficiency is a way for China’s economy to achieve sustainable development. Using data on listed industrial enterprises in China from 2000 to 2022, we investigate the impact of trade liberalization on the energy efficiency of Chinese firms and its mechanism of action at the micro-firm level. Our findings suggest that trade liberalization has greatly contributed to firms’ energy efficiency and the main conclusions in this paper still hold after a series of robustness tests. Further research shows that two channels that contribute to the improvement of firms’ energy efficiency are the expansion of the firm’s size and the improvement of production efficiency induced by trade liberalization. Another significant route according to which trade liberalization influences energy efficiency improvements by firms is the dynamic decomposition of industrial energy efficiency, which shows that 70.07% of industrial energy efficiency enhancement is due to structural adjustments. The heterogeneity analysis results show that the energy saving impact of trade liberalization is stronger for non-exporting, foreign-funded, growth-oriented enterprises that are based in the eastern region. Our study presents new ideas for the realization of energy conservation and emissions reduction from the perspective of trade liberalization, which is instructive in regard to the improvement of sustainable development of enterprises. Full article

In the context of China’s swift urbanization and heightened sustainability challenges, SMCEs in the construction industry play a critical role in driving both economic growth and sustainable development. This pioneering study introduces an integrative approach blending sustainability-oriented strategies (SSs) with financing guarantees, addressing key obstacles faced by these firms. Leveraging a multi-agent computational model, we dissect the dynamic interplay among construction SMCEs, governmental bodies, financial institutions, and guarantors, underscoring the transformative impact of financing guarantees on sustainable advancement. Our investigation reveals that optimally structured financing guarantees not only resolve funding challenges but also actively foster adherence to sustainability practices. This dual functionality positions such financial instruments as key enablers of SMCEs’ quest for sustainability, aligning economic objectives with ecological imperatives. Furthermore, we spotlight the transformative effect of strategic management on elevating SMCEs’ commitment to sustainable operations. Collectively, these insights offer actionable pathways for SMCEs embarking on sustainability endeavors, showcasing innovative financial solutions that do not detract from their economic prosperity. Full article

As a derivative of traditional finance, supply chain finance plays a crucial role in facilitating the sound and stable operation of enterprises. This paper investigates the impact of supply chain finance on corporate sustainable growth. The findings reveal that supply chain finance not only fosters sustainable growth but also amplifies this effect through digital technology integration. Moreover, for firms and service-oriented businesses located in the central region, supply chain finance exerts a more pronounced positive influence on sustainable growth. In addition, the impact of supply chain finance on firm sustainable growth can be stage-specific depending on the financial situation. Full article

This study concentrated on a business report that typically reveals a company’s non-financial information, aiming to uncover its strategic direction. Using text-mining techniques, the research extracted and analyzed the report’s overview sections, identifying key strategic themes categorized into the financial, customer, learning and growth, and internal process perspectives. The empirical analysis applied a two-stage model to assess how shifts in company strategies affect profitability, stability, and growth. This research provided insights into the management strategies and financial metrics within the information security sector, examining how strategic priorities shape financial health. The findings were as follows. Firstly, companies emphasizing financial strategies in their reports tended to exhibit higher profitability. Secondly, those focusing on customer-oriented strategies also reported greater profitability. Thirdly, companies prioritizing internal processes demonstrated increased organizational stability. Fourthly, an emphasis on learning and growth strategies was associated with lower stability but higher growth potential. This paper contributes to the field by offering a method to quantitatively analyze qualitative textual data, providing a more precise approach to understanding management strategies through direct content analysis of business reports. It also highlights the specific financial and strategic characteristics of information security firms, a relatively under-researched area, thereby offering valuable guidance for these companies in terms of strategic planning. Full article

Wood processing products can be used as a substitute for some high carbon emission materials, thus contributing significantly to climate change mitigation. China has significant importance in guaranteeing a stable global supply of wood products. However, China has experienced a decline in wood product exports recently, which could affect the world’s progress toward sustainable development. This study focuses on the spatial agglomeration of China’s wood-processing industry and explores the potential of integrating spatial agglomeration to address the diminishing export growth. We found that the spatial agglomeration of China’s wood-processing industry generally increased rapidly between 1999 and 2004, but decreased after 2004. The centroid of China’s wood-processing is shifting from the northeastern region toward the eastern coastal areas. The industry is more concentrated in the north–south direction and slightly dispersed in the east–west direction. Most sub-sectors of China’s wood-processing industry operate at the primary agglomeration level, indicating significant potential for improvement and further development. The empirical results unveil the substantial positive influence of spatial agglomeration on exports within China’s wood-processing industry, indicating the prospects for enhancing exports through the deliberate exploitation of agglomeration effects. The results advocate the view that spatial agglomeration acts as an essential accelerator for export growth and firms’ international competitiveness. Therefore, spatial agglomeration can alleviate the export constraints of China’s wood-processing industry. The results also show that exports are hampered by increased enterprise productivity. The ‘productivity paradox’ phenomenon has also surfaced in low-tech industries, like the wood-processing industry, as a result of issues with transaction costs, the development path, and policy orientation. Therefore, we should strategically leverage the spatial agglomeration effect, especially in the western region, and guide the moderate competition of enterprises to enhance the competitiveness of low-tech enterprises. China’s wood-processing industry can provide advanced experience and lessons for other countries regarding industrial cluster allocation and sustainable development models. Full article

As a plan, Industry 4.0 encourages manufacturing companies to switch from conventional Product-Service Systems to Digital Product-Service Systems. Systems of goods, services, and digital technologies known as “Digital Product-Service Systems” are provided to improve consumer satisfaction and business success in the marketplace. Previous studies have looked into various elements of this area for industrial companies and academic institutions. Digital Product-Service Systems’ overall worth and expected course of growth are still ignored. The authors use bibliometric analysis to organize the body of prior knowledge in this discipline and, more significantly, to identify areas for further study in order to cover the literature deficit. The results of the most esteemed authors, nations, and sources in the subject were given by this study. The findings also show that terms like digitization, sustainability, and business have grown in popularity over the previous year. This study also offered insight into how Industry 5.0, a new manufacturing strategy, would include Digital Product-Service Systems. Finally, the findings of this research demonstrate three new service orientations, namely resilient, sustainable, and human-centric, in manufacturing firms. Full article

One of the service-based manufacturing concepts emphasizes relationship orientation and building strong customer relationships, while Industry 4.0 enables companies to be proactive in the supply chain. However, to achieve digitally driven growth, service-based manufacturing requires a shift away from the traditional upstream and downstream hierarchy toward a collaborative model. In this study, service-oriented manufacturing companies in the packaging and printing industries are selected as case studies to examine the relationship between supply chain concentration, digital transformation, and corporate competitive advantage from the perspectives of power control and equilibrium. The results show that a high supply chain concentration harms firms’ competitive advantage, especially when power is unevenly distributed. Moreover, digital transformation plays a moderating role in this relationship, suggesting that it is possible to improve firms’ competitiveness and further equalize the power balance by applying digital technologies to supply chain processes. The study revealed significant heterogeneity within the group of companies in terms of ownership type, dual management roles, and company size. In summary, this study makes a unique contribution to the growing research field of supply chain digital transformation. It provides valuable insights from a power balance perspective for service-oriented manufacturing companies seeking to enhance their competitive advantage in a rapidly changing market environment. Full article