A Demand-Side Perspective of Bioeconomy: The Influence of Online Intellectual Capital on Consumption

Abstract

The present paper aims to address a demand-side perspective of bioeconomy by laying emphasis on the digitalization of markets and, subsequently, on the consumption patterns at the macroeconomic scale. The imperative for a sustainable economic model corroborated with the advances in digital technologies usage have reconfigured consumers' approaches and expectations and availed new forms of consumer behavior. Among these, the development of consumer-based online communities and of the online intellectual capital have often come forth as an undertaking of empowered consumers pursuing knowledgebased consumption patterns. The quest for sustainable, bio-labeled products on the digital markets has cemented the formation of new social aggregations built on the similarity of interests, goals, values, expectations, preferences, etc., giving way to consistent communication and interaction flows among their members and engendering profound transformations in today's society. Acknowledging all these facts, the study investigates the influences of the online intellectual capital on the consumption patterns through the lens of bioeconomy. The focus is set on the bio products consumption in two European countries (i.e., Romania and Italy), relying on a sample of over 700 active online consumers. Processed via a structural equation modeling technique, the data indicated the existence of significant influences among the considered variables.

Users' motivations to participate in the sharing economy: Moving from profits toward sustainable development

“…As a proponent of this perspective, Belk () “distinguishes between sharing in and sharing out, and suggests that sharing in dissolves interpersonal boundaries posed by materialism and possession attachment through expanding the aggregate extended self” (p. 715). Hamari et al () consider information and communication technologies important for the matchmaking between those in need and those willing to share (Heinrichs, ; Owyang, Tran, & Silva, ), which is often conducive to knowledge‐based online communities, as posited by Gazzola, Colombo, Pezzetti, and Nicolescu () and Vătămănescu, Alexandru, Cristea, Radu, and Chirica (), among others. These social aggregations supported by web platforms have emerged as an agora for savvy dynamic flows and various forms of intellectual capital, which catalyze users' familiarization and knowledge levels with the sharing market (Vătămănescu et al, ).…”

The Relationship Between the Boards Characteristics and the Risk Management of the Romanian Banking Sector

“…The same conclusion can be found in the studies of the authors Ioannou and Serafeim (2012) who say that forming and education in a national level in domains such as politics, social, education, cultural or even regarding the work relationships that inevitably have an impact on the social performances of the companies. Therefore, as per the evidence of the speciality literature, the nationality (Vătămănescu et al, 2018) can influence the performance of a company by using the expertise received in the origin country (political influence, education, culture and work relationships) (Ioannou & Serafeim, 2012), as well as the manager's principles and values.…”

The Influence of Intellectual Capital on Economic Progress and Sustainability

“…The paper of Vătămănescu et al aims to address a demand side perspective of bio-economy by laying emphasis on the digitalization of markets and, subsequently, on the consumption patterns at the macroeconomic scale [38]. The study investigates the influences of intellectual capital on the consumption patterns through the lens of bio-economy.…”

“…The empowering of consumers squeezes out of the emergence of their online communities and of the online intellectual capital. The newest social aggregations of online type allow deepened transformations in actual society, starting from the need of an enhanced communication and flows of information on productsof the digital markets which are bio-labelled[38].Economic growth in modern era is no more related to the growth limits, growth opportunities being far way more important. The last ones are basically involving the developing knowledge, research investments, innovative trends and performance of technology, all known as smart economic growth.…”