Temat: Financial innovation - Katalog OPAC zbiorów

Skocz do pozycji: 1.

Tytuł:: Financial Innovation and Sustainable Development in Selected Countries in West Africa
Autorzy:: Ajide, Folorunsho M
Powiązania:: https://bibliotekanauki.pl/articles/475067.pdf
Data publikacji:: 2016
Wydawca:: Fundacja Upowszechniająca Wiedzę i Naukę Cognitione
Tematy:: financial innovation
competition
development
Africa
innowacje finansowe
konkurencja
rozwój
Afryka
Opis:: Financial innovation has given a new trend to modern financial system and its importance has been widely recognized. This study investigated the effect of financial innovation augmented with bank competition on sustainable development in eight West African countries. Data were sourced from World Bank development indicators from years 2000-2013. We used two proxies of competitions, two proxies of financial innovations and regressed them on a growth indicator as well as development indicator with other control variables. Using panel data estimations, our results confirmed that an increase in banking efficiency driven by competition and financial innovation would improve economic growth and development. While the two proxies of competition were significant, the financial innovations were not significant; one displayed a negative, while the other exhibited a positive relationship with development. These results revealed the differential effects of different financial innovations adopted in the financial system. That is, the growth effect of financial innovation is sensitive to the choice of proxy. A reduction in demand for money caused by financial innovations could deter economic growth and development. This is because individuals would move away from more liquid assets to less liquid assets. On the other hand, financial innovations could potentially lead to an increase in money demand if payment systems improve and individual’s demand for more liquid assets is channeled to productive sectors. We therefore concluded that policies which would drive competition and efficiency in the banking industry as well as financial innovation should be introduced to ensure effective functioning of the financial system.
Źródło:: Journal of Entrepreneurship, Management and Innovation; 2016, 12, 3; 85-111
2299-7075
2299-7326
Pojawia się w:: Journal of Entrepreneurship, Management and Innovation
Dostawca treści:: Biblioteka Nauki

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Skocz do pozycji: 2.

Tytuł:: Innovation and CSR Impact on Financial Performance of Selected Companies in Mexico
Autorzy:: Durán-Vázquez, Rocío
Lorenzo-Valdés, Arturo
Moreno-Quezada, G. Einar
Powiązania:: https://bibliotekanauki.pl/articles/474898.pdf
Data publikacji:: 2012
Wydawca:: Fundacja Upowszechniająca Wiedzę i Naukę Cognitione
Tematy:: value of relevance
innovation and financial
distinctive of corporate social
responsibility
Opis:: This study analyzes the behavior of the companies in the index of México’s Precios y Cotizaciones (IPC), with respect to measures of financial performance and its relationship with the two main approaches of innovation, according to the Bogota and Oslo manuals; assessing their impact on the stock price. The data is used on a quarterly basis from January 2000 to December 2011. It also makes reference to the impact of having the distinction “Socially Responsible Company” (Corporate Social Responsibility), in the Mexican stock market price reaction. Our main interest is to be pioneers in the search for relationships between topics that are currently treated as “alien” (CSR and Innovation) in formal academic publications, but we intuitively know that they are related inside organizations.
Źródło:: Journal of Entrepreneurship, Management and Innovation; 2012, 8, 3; 5-20
2299-7075
2299-7326
Pojawia się w:: Journal of Entrepreneurship, Management and Innovation
Dostawca treści:: Biblioteka Nauki

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Skocz do pozycji: 3.

Tytuł:: The Patents and Financial Performance of Firms - Evidence From Polish Manufacturing Companies
Autorzy:: Prędkiewicz, Katarzyna
Prędkiewicz, Paweł
Powiązania:: https://bibliotekanauki.pl/articles/475181.pdf
Data publikacji:: 2014
Wydawca:: Fundacja Upowszechniająca Wiedzę i Naukę Cognitione
Tematy:: innovation
financial performance
economic slowdown
patents
Opis:: This article is a contribution to the discussion on innovation activity and its influence on financial performance of companies. The authors employ a simple measure of innovativeness, which was also used in other studies, and the division of companies into two groups (innovative and non-innovative) was based on the fact whether they obtained a patent (patents) or not. In this paper, we compare the rates of return and revenue growth achieved by innovative versus non-innovative companies operating in the manufacturing industry in Poland, in the years 2006 to 2012. Financial and qualitative data for testing the hypotheses were taken from the Amadeus database provided by Bureau van Dijk. The sample consisted of 4004 enterprises, of which 681 were owners of at least one patent. T-Student test, ANOVA and OSL models were used to verify the working assumptions. The study tests the following three research hypotheses. H1: “Innovative companies achieve higher rates of return than the non- innovative ones.” That hypothesis was confirmed in relation to the EBITDA margin and ROS (return on sale), but not to ROA (return on assets) and ROE (return on equity). The fact of belonging to a group of innovative companies had an impact on an average EBITDA margin increase by 0.83 p.p. in 2007, 0.78 p.p. in 2009 and 0.73 p.p. in 2012, ceteris paribus. The difference between ROE was found statistically insignificant in most analysed periods (except 2007 and 2009), however, non-innovative companies have achieved a higher return on equity than innovative companies. It can be associated with higher operational risk in innovative companies which restrict access to external capital, leading such companies to expand their businesses through their own equity. The second tested hypothesis is: “An innovative activity has higher impact on financial performance in medium-sized companies than in large and very large ones.” During the research, it was found out that having obtained a patent is important determinant of EBITDA margin for medium-sized companies, increasing it by 0.76 p.p., ceteris paribus. In large companies, it contributed to an increase of 0.71 p.p., and for very large ones – by only 0.19 p.p., with the slope for the latter group at a number other than zero found to be statistically insignificant. In relation to third tested hypothesis:” Innovative companies are more sensitive in terms of revenue dynamics to economic slowdown than the non-innovative ones.” it was found out that in the period of time from 2006 to 2012 the dynamics of revenue growth in innovative companies was generally higher than in the non-innovative ones, except in the year 2009, when all companies showed a significant decline in revenues, but for innovative companies, the decline amounted to 6.39%, and for the remaining ones it was found at 4.98%. Based on those findings it was confirmed that innovative companies are characterized by a greater sensitivity to economic slowdown.
Źródło:: Journal of Entrepreneurship, Management and Innovation; 2014, 10, 4; 115-142
2299-7075
2299-7326
Pojawia się w:: Journal of Entrepreneurship, Management and Innovation
Dostawca treści:: Biblioteka Nauki

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