Innovativeness in energy companies in developing economies: Determinants, evaluation and comparative analysis using the example of Poland

Nawrocki, Tomasz L.; Jonek-Kowalska, Izabela

doi:10.1016/j.joitmc.2023.100030

Cited by 6 publications

(1 citation statement)

References 174 publications

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“…The authors suggest that green transformation may be supported by foreign companies thanks to knowledge exchange and technology transfer. Similar conclusions are drawn from the findings of the studies of Nawrocki and Jonek-Kowalska (2023), carried out in Poland [74], and of Hoicka et al ( 2022) [75]. Zhang and Fu (2022) [76] add, however, that foreign innovations improve the innovative nature of the energy sector solely when they are unique and do not duplicate or imitate solutions implemented in other countries.…”

Section: Innovation In the Energy Sector From A Micro Perspectivesupporting

confidence: 69%

The Innovative Nature of Selected Polish Companies in the Energy Sector Compared to the Use of Renewable Energy Sources from a Financial and an Investor’s Perspective

Jonek-Kowalska,

Rupacz

2023

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Analysis of the energy sector from the micro perspective that relates to individual companies is much rarer than a macroeconomic analysis that concerns the power industry as a whole and its impact on the functioning of the economy. However, energy companies directly implement the government’s energy policies and innovation strategies. Thus, this article attempts to answer the question concerning the relationships in three large energy companies operating in Poland (1) between the use of renewable resources for production and the innovative nature of a company, (2) between the use of renewable energy sources and the standing on the stock exchange and profitability. This study used multiple case studies, financial analysis indicators, a time series analysis, and an interdependence analysis. This study covers 2011–2022 and allows consideration of long-term changes in domestic energy policy. Our findings suggest that there is a relationship between a company’s investment activity and the use of renewable energy sources. Unfortunately, the scope of the use of RESs in these companies is small (from ca. 1% to 15%, which demonstrates the low progress of green transformation) and has negative correlations with the investors’ assessment and profitability. In relation to innovation, the ratio of intangible assets to total assets was the highest for Tauron SA, increasing from 1.96% to 5.16%. Its material commitment to innovation is distinguishable from the other two companies. This is also the company with the highest share of RESs in energy production. The second place belongs to Enea SA with its ratio of intangible assets to total assets that increased from 0.72% to 1.69%. The ratio was lowest for PGE SA, increasing from 0.37% to 1.47%. The results and standing of the analyzed energy companies are strongly affected by energy policy amendments, including the improved status of coal and the re-oriented use of RESs (prioritizing solar energy over wind). As a result, these companies, despite the twelve-year period of the implementation of green transformation in the European Union, have achieved little on the path to sustainable energy. Therefore, achieving the goal of a zero-emission economy seems unlikely, since the renewable energy mix is still very slight and not diversified. Changes in energy policy are also not conducive to sectoral and economic innovation.

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Section: Innovation In the Energy Sector From A Micro Perspectivesupporting

confidence: 69%

The Innovative Nature of Selected Polish Companies in the Energy Sector Compared to the Use of Renewable Energy Sources from a Financial and an Investor’s Perspective

Jonek-Kowalska,

Rupacz

2023

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Public policy and its impact on innovation, competitiveness, and performance in the tourism sector

Zúñiga Collazos,

Rios Obando,

Gómez López

et al. 2023

Cogent Social Sciences

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Innovation in the economies of Central and Eastern Europe – long-term benchmarking

Jonek-Kowalska

2023

Journal of International Studies

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Innovation is an important determinant of development that is of particular importance in developing and emerging economies. For this reason, the aim of this research is to analyze innovation in the countries of Central and Eastern Europe from a long-term perspective, covering 2015-2022, and to classify the studied economies taking into account the dynamic approach to the development of innovation. The article uses data from the European Innovation Scoreboard (EIS), descriptive statistics, and cluster analysis as a method of unsupervised learning. The research results indicate the existence of five innovation development paths in the analyzed region: (1) very low average innovativeness, regressive or low rate of innovation change, very large distance to the EU average; (2) low average innovativeness, high pace of innovation changes, large distance to the EU average; (3) medium average innovation, low rate of innovation change, large distance to the EU average; (4) high average innovation, high rate of innovation change, small distance to the EU average; and (5) very high average innovation, low rate of innovation change, zero distance to the EU average.

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Innovativeness in energy companies in developing economies: Determinants, evaluation and comparative analysis using the example of Poland

Cited by 6 publications

References 174 publications

The Innovative Nature of Selected Polish Companies in the Energy Sector Compared to the Use of Renewable Energy Sources from a Financial and an Investor’s Perspective

The Innovative Nature of Selected Polish Companies in the Energy Sector Compared to the Use of Renewable Energy Sources from a Financial and an Investor’s Perspective

Public policy and its impact on innovation, competitiveness, and performance in the tourism sector

Innovation in the economies of Central and Eastern Europe – long-term benchmarking

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