Innovation and environmental, social, and governance factors influencing sustainable business models - Meta-analysis

Kluza, Krzysztof; Zioło, Magdalena; Spoz, Anna

doi:10.1016/j.jclepro.2021.127015

Cited by 56 publications

(30 citation statements)

References 111 publications

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“…While investigating the impact of innovation on SBM practices of SMEs, the findings show that innovations have a positive effect on SBMs. Our findings are consistent with the relationship between innovation and business model, as well as the scope of business model innovation research for sustainable development ( Reinhardt et al, 2019 ; Kluza et al, 2021 ; Wong and Ngai, 2021 ). It is important to notice that not only technology, products, and services can lead to a SBM, but also innovations of the business model itself.…”

Section: Discussionsupporting

confidence: 89%

“…The results of our research on the relationship between innovation and SBMs are particularly evident in ecological innovation. Based on the research results in an international context (Europe, America, Africa, and Asia), Kluza et al (2021) confirmed this, innovation significantly influences the SBM, indicating that ecological innovation will benefit the environment. According to Barbieri and Santos (2020) , innovation improves environmental performance.…”

Section: Discussionsupporting

confidence: 54%

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New Schemes for Investment in of Small and Medium-Sized Enterprises of China: Role of Access to Finance, Innovation, and Sustainability

Tang

2022

Front. Psychol.

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Firm innovation relies heavily on financing, which is why it is a hot topic in the fields of finance and innovation management. Organizations can make strategic investments in production factors to develop competitive advantages because they have access to financial resources. This study investigated how financial literacy, innovativeness, and environmental sustainability influence the sustainability of small and medium-sized enterprises (SMEs). This was set as the primary objective in order to better understand the nature of the impact of financial literacy and innovation on the sustainability of SME firms. To test the hypotheses, structural equation modeling (SEM) was applied using data collected from 300 small businesses firms in China. The results revealed that financial literacy and innovativeness significantly influence small firms’ sustainability. Additionally, social inclusion significantly affects small firms’ sustainability, and sequentially has a significant effect on their performance. Research findings suggested that small businesses incorporate sustainability models into their operations and enhance financial knowledge in order to maintain sustainability.

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Section: Discussionsupporting

confidence: 89%

Section: Discussionsupporting

confidence: 54%

New Schemes for Investment in of Small and Medium-Sized Enterprises of China: Role of Access to Finance, Innovation, and Sustainability

Tang

2022

Front. Psychol.

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“…FinTech companies, as with any other company, operate in a society, while each society constructs its own social environment. The main factors affecting the social environment, and hence, FinTech companies also include, e.g., the educational system and literacy level, attitudes towards innovative products, lifestyle, occupational distribution and consumer preferences, labour force expectations, consumption habits, and social inequality (Kluza et al 2021). FinTech companies must be aware of the social preferences of society in relation to its needs and desires, and they must adapt to the social environment in which they operate in order to be competitive.…”

Section: The Latvian Fintech Environmentmentioning

confidence: 99%

FinTech in Latvia: Status Quo, Current Developments, and Challenges Ahead

Rupeika-Apoga

Wendt

2021

Risks

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FinTech has been in the focus of discussion for quite some time. However, the market share of FinTech companies is still relatively small compared to that of more traditional financial services. The purpose of this paper is to analyse the status quo, current developments, and challenges ahead for the Latvian FinTech sector. We combine three analyses: a political and legal, economic, social, and technological environment (PEST) analysis; a survey among FinTech companies; and an analysis of the size and financial performance of FinTech companies during the last 10 years. We find that the current status of regulation is one of the main obstacles to FinTech development, because it does not sufficiently consider FinTech-specific aspects. Problems in attracting a skilled workforce and an environment that is not very supportive of new developments in finance are further challenges and might explain at least part of the growth and financial performance difficulties. A revision, modernization, and harmonization of regulation is essential to create a level playing field for all market participants: FinTech companies, traditional financial service providers, and those originally traditional players that are integrating FinTech solutions in their business model. Further efforts are also required to foster Latvia’s attractiveness for a skilled workforce. We hope that this study helps increase the visibility of Latvian FinTech and contributes to the development of the new Latvian FinTech strategy.

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“…FinTech companies, like any other company, operate in a society, while each society constructs its own social environment. The main factors affecting the social environment and, hence, also FinTech companies include, e.g., the educational system and literacy level, attitudes towards innovative products, lifestyle, occupational distribution and consumer preferences, labour force expectations, consumption habits and social inequality (Kluza, Ziolo, and Spoz 2021). FinTech companies must be aware of the social preferences of society in relation to its needs and desires, and they must adapt to the social environment in which they operate in order to be competitive.…”

Section: The Latvian Fintech Environmentmentioning

confidence: 99%

FinTech in Latvia: Status Quo, Current Developments and Challenges Ahead

Rupeika-Apoga¹,

Wendt²

2021

Preprint

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FinTech has been in the focus of the discussion for quite some time. However, the market share of FinTech companies is still relatively small in compared to more traditional financial services. The purpose of this paper is to analyse the status quo, current developments and challenges ahead for the Latvian FinTech sector. We combine three analyses: the political and legal, the economic, the social and the technological environment (PEST) analysis, an analysis of the size and performance of FinTech companies during the last 10 years, and a survey among FinTech companies. We find that the current status of regulation is one of the main obstacles to FinTech development, because it does not sufficiently consider FinTech-specific aspects. Problems in attracting skilled workforce, and an environment that is not very supportive of new developments in finance are further challenges and might explain at least part of the growth and performance difficulties. A revision, modernization and harmonization of regulation is essential to create a level playing field for all market participants: FinTech companies, traditional financial service providers and those originally traditional players that are integrating FinTech solutions in their business model. Further efforts are also required to foster the Latvia’s attractiveness for skilled workforce. We hope that this study helps increase the visibility of Latvian FinTech and contributes to the development of the new Latvian FinTech strategy.

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Innovation and environmental, social, and governance factors influencing sustainable business models - Meta-analysis

Cited by 56 publications

References 111 publications

New Schemes for Investment in of Small and Medium-Sized Enterprises of China: Role of Access to Finance, Innovation, and Sustainability

New Schemes for Investment in of Small and Medium-Sized Enterprises of China: Role of Access to Finance, Innovation, and Sustainability

FinTech in Latvia: Status Quo, Current Developments, and Challenges Ahead

FinTech in Latvia: Status Quo, Current Developments and Challenges Ahead

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