SocioEconomic Challenges (SEC)
Permanent URI for this collectionhttps://devessuir.sumdu.edu.ua/handle/123456789/61497
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Item Sustainable and Entrepreneurial: A Path to Performance Improvements for Family Firms?(Academic Research and Publishing UG, 2023) Mullens, D.; Shen, S.This study endeavors to reconcile the limited, mixed findings related to entrepreneurship and corporate social responsibility in the family firm context. Specifically, the relationships between entrepreneurial orientation (EO), sustainable investments in environmental and societal initiatives, and the interaction of EO and sustainable investments with family firm performance are evaluated. Data were collected through in-person interviews of 151 top managers of automobile and motorcycle dealerships. Secondary data were collected from ReferenceUSA to confirm the veracity of the primary performance data. Multiple linear regression models were used to evaluate the hypothesized relationships. The results indicate family firms realize higher performance with an EO by being proactive, innovative, and risk-taking. Moreover, sustainable investments are associated with higher family firm performance by either increasing revenues or decreasing costs. EO does not significantly accentuate the positive relationship between sustainable investments and performance. The observed interaction was contrary to expectations with EO acting as a substitute for sustainable investments; firms with an EO use a variety of initiatives, including but not limited to society and the environment, to improve performance. These findings advance the family business literature on entrepreneurship and corporate social responsibility theory by establishing EO and socially responsible, sustainable investments as antecedents of family firm performance while also analyzing the EO-sustainable investment interactionItem Export of high-tech goods in the context of innovation transfer for social-economic development: factor analysis(Sumy State University, 2023) Habenko, M.The purpose of the study is to determine factors that have the greatest influence on the growth of export of high-tech goods in the context of innovation transfer for social-economic development. Factor analysis tools, including principal component analysis and the Varimax rotation (orthogonal transformation) method in Statgraphics software, are used to identify the most significant indicators of the impact on export of high-tech goods, as a key determinant characterizing the quality of scientific and educational potential, and to determine the latent signs of their interaction. A modified logistic function is used to normalize input data for 11 investigated factors in a sample of 28 countries. Ten linear combinations of variables are obtained, which explain most of the data variability. The first four components have eigenvalues greater than or equal to 1.0. Together, they account for 88.520% of the variability of the original data. After orthogonal transformation by the Varimax method, the factor load matrix is obtained. The econometric models, which describes the influence of independent indicators on the export of high-tech goods, are represented. Next, the four most influential indicators from the 11 investigated factors are revealed, namely: the country’s research and development expenditure, GDP in current prices, research staff and researchers in the sector of business enterprises, the percentage of ICT staff from total employment. They are taken to develop multiple linear regression models, which describes the influence of independent indicators on the effective export of high-tech goods. The quality results of the factor analysis are confirmed using the Kaiser-Meier-Olkin test and the Bartlett test. Regression analysis with strict screening of non-significant variables using the Backward Stepwise Selection tool confirms the significance of the indicator of scientific research personnel and researchers in the sector of business enterprises, which has the greatest impact on the export of high-tech goods. A pair regression model is obtained, and it is confirmed that increase of research staff and researchers in the sector of business enterprises by 1% causes increase of export of high-tech goods in average by 0,73%.Item Challenges and opportunities in the ‘businesseducation-science’ system in the context of innovation development: cluster analysis(Sumy State University, 2023) Койбічук, Віталія Василівна; Койбичук, Виталия Васильевна; Koibichuk, Vitaliia Vasylivna; Самойлікова, Анастасiя Вiкторiвна; Самойликова, Анастасия Викторовна; Samoilikova, Anastasiia Viktorivna; Kharchenko, D.; Fritsak, M.The purpose of this article is to characterise challenges and opportunities in the ‘business-education-science’ system in the context of innovation development based on cross-country cluster analysis. The article examines the relationship between science, education and business and their mutual influence on modern society. The main challenges facing science, education and business are considered, and opportunities for cooperation between these fields to overcome them are identified. Key factors that influence the effectiveness of scientific research, the quality of education, and the success of business are also determined, with an emphasis on the important role of cooperation in the ‘business-education-science’ system in ensuring their impact. To reach article’s purpose, a complex methodology was applied, which includes the following stages: collection of information about the current state of science, education, and business; a review of expert opinions and analytical reports on the problems of the interaction of science, education and business; methods of cross-country cluster analysis using STATISTICA 10 software (the k-Means method, the square of the Euclidean metric, etc. for a comparative analysis between 19 countries from a sample to find out which of them have better indicators in the respective fields). The statistical base is formed from the European Union and the WIPO data, which cover 10 key indicators in the context of the development of science, education and business and their affect the country’s competitiveness in the global world. As a result, there are two formed clusters: the first includes the USA and China that have the highest level of education-science-business development and the second cluster includes other countries from the sample with a less developed education-science-business sector. For these countries the recommendations have been developed to strengthen their education-science-business sector, in particular: creating favourable conditions for investing in science and business, attracting talented scientists, and supporting their activities, increasing allocations for education, and improving the quality of education, strengthening partnerships between universities and enterprises to create innovative projects and other activities. The obtained results can be useful for further research and for making managerial decisions at different levels of government in the context of innovation development, including through the strengthening of coopetition between business, education, and science.Item The effectiveness of employment in high-tech and science-intensive business areas as important indicator of socio-economic development: cross-country cluster analysis(Sumy State University, 2022) Койбічук, Віталія Василівна; Койбичук, Виталия Васильевна; Koibichuk, Vitaliia Vasylivna; Самойлікова, Анастасiя Вiкторiвна; Самойликова, Анастасия Викторовна; Samoilikova, Anastasiia Viktorivna; Хабенко, М.Є.; Habenko, M.Employment is one of key parameters of the economy, which characterizes its efficiency, possibility of using the labour potential and growth of population’s well-being. The level of employment is the most important indicator of the effectiveness of socio-economic policy of the state. A high level of employment in high-tech and science-intensive business areas is a driver of sustainable economic development of countries, increasing labour productivity, ensuring leadership in the market, and reducing the productions costs. Thus, the assessment of the effectiveness of population employment in high-tech and science-intensive service areas is significant today, as it is a comprehensive assessment of the country’s development, its current state in high technologies and further prospects for working with them. The research purpose consists in determining the maximum, most effective value of the population employment efficiency index in high-tech and science-intensive service spheres based on cross-country cluster analysis. The sample of countries all over the world were divided into 3 clusters, taking into account the rating value of the following indices: employment in high- and medium-high-tech production sectors and science-intensive business service spheres; enterprises that conducted training to develop / improve the ICT skills of their personnel; new registered enterprises. During the research there were statistical data analysis, cluster analysis using Ward’s method and software Statgraphics, optimization method using Frontier Analyst software. As a result, the efficiency of population employment in high-tech and science-intensive business service sectors of 36 countries in 2021 was determined, and accordingly reference countries with high population employment in this research sphere were identified. The potential reserves for increasing the targeted value of the population employment index in high-tech and science-intensive sectors were also characterized. The obtained results can be useful for business managers, they can adopt the experience of doing business in countries with more effective indicators, with the aim of developing employees, providing them with new training and knowledge that will facilitate doing business in the future.Item The impact of the innovation on the economy: an empirical analysis for Azerbaijan(Sumy State University, 2022) Zeynalli, L.; Huseynli, G.; Huseynli, M.Innovation is a basic and important element of economic success. Innovation is seen as a significant factor in boosting product competitiveness in both domestic and global markets, replacing outdated manufacturing equipment, and creating demand for highly skilled workers. It is commonly acknowledged that for the state to develop an effective scientific and technical policy, an information base that depicts the status, scale, and direction of innovation activities throughout the economy is required. Therefore, it is critical to consider both the decimal and descriptive aspects of the information. In short, creating the groundwork for an innovative economy is critical to achieving good outcomes in the country’s socioeconomic growth. The study’s major goal is to examine the economic effect of innovative development in Azerbaijan. The State Statistics Committee of the Republic of Azerbaijan provided the study with statistical information for the years 2000–2021. To begin, the study performed a literature review of various scholars on the issue, and the initiatives adopted by the state in different years to promote creative growth in Azerbaijan were analyzed. Furthermore, indicators such as GDP, the number of people employed in the economy, fixed assets, and innovation costs were utilized to estimate the impact of innovations on economic growth. When coefficients represented in individual variables in the generated model are compared, it is clear that the influence of innovation costs (0.877 or 87.7%) on the amount of activity in the economy is bigger than the effect of fixed assets (0.292 or 29.2%) and the number of employees (0.020 or 2%). At the 0.05 level of significance, the t-statistics and their probabilities associated with the coefficients show that the number of employees has a negative effect on GDP, whereas production funds and expenditure on innovations have statistically significant positive effects on GDP. The estimated F-Statistic and its probability imply that the cumulative result of innovation expenditure on GDP is statistically significant. The study claims a connection between innovation spending and GDP, and that the former has a major influence on the latter. The research also demonstrates that the model’s explanatory variables account for about 98.4% of the changes in the explained variable. This suggests that, in the framework of the model, spending on innovation accounted for about 98.4% of the variation in GDP over the study period. This study, therefore, contributes to the expanding amount of evidence indicating that expenditure on innovation is related to and has a significant impact on GDP. The results of the model also show that an increase in production funds of 1% generates a rise in GDP of 29.3%, a rise in employee numbers of 1% causes a boost in GDP of 2%, and an expansion in innovation expenditures of 1% causes a GDP rise of 87.7%. In this regard, it is thought appropriate to raise innovation costs, particularly during the digital economy transition.Item Innovation And Social Networks For Creating Social Value(Sumy State University, 2022) Lopez, B.S.; Caetano, I.M.S.; Alcaide, A.V.In an increasingly digitized world and after the disruption of the covid-19 pandemic, the internet and social networks are becoming the central backbone of interactions between individuals, organizations, and governments worldwide in general and defending the democratic values in Ukraine in particular. The influence capacity of social networks on creativity and innovation has grown in recent years and has been an objective of the study. This paper analyses the interaction between innovation and social networks from a balanced assessment, considering opportunities and risks. The interaction between social networks and innovation could redesign the value creation process. The proliferation of social media platforms coincides with the expansion of the open innovation paradigm and has demonstrated its efficiency in facilitating solutions in different fields such as science, statistics, engineering, production and the generation of social policies. On the other hand, risks have to be analyzed and mitigated. The social networks and search engines could have become a proxy for organizing and accessing information and knowledge on a large scale; however, evidence points out how the fake data and concentration could suffocate innovation. The research develops a theoretical framework to analyze how the organizational structure of social networks could influence the knowledge absorption capability and innovation; what is the influence of the social networks on creativity and innovation; and their role as drivers to create the social value. The results of the research could be practically valuable for many stakeholders: Chief Innovation Officers and Communication Managers, Teams responsible for Stakeholders Engagement and Open Innovation programmes, Policy Makers, and the Scientific Community interested in developing empirical research on the topic, as well as citizens to understand their role as change-makers contributing to developing Innovation and Creativity.Item Cybersecurity, An Axis On Which Management Innovation Must Turn In The 21st Century(Sumy State University, 2021) Fernando Alonso Ojeda, C.The main objective of this article is to highlight Cybersecurity, as a support for innovation in the 21st century company. It analyzes the two dominant structures under company cases, both from the United States and from PR China. The work is part of the research project developed by the researcher from the Pilot University of Colombia, called “The sustainable reference of the company in Colombia: support of the innovation of the XXI Century.” With this, “The Diamond of Innovation” is used, a product of the studies that the author of this document has carried out in the last decade on business models, public policy, culture and education, from Southeast Asia, the RP China and India.Item The Impact Of Marketing Innovation On The Performance Of Small And Medium Enterprises In Nigeria(Sumy State University, 2021) Yelmi, A.; Yahaya, Ya.; Muhammed, A.The intensity of global market competition has created dynamic and fast-changing business environment which has affected all enterprises including small- and medium-sized enterprises (SMEs). SMEs have, therefore, realized the need to explore, exploit and deploy marketing innovation and innovative strategies in order to stay competitive in the changing business environment. In both developed and developing countries across the world, SMEs form an important fragment of the local economic system.Item Human Capital in Azerbaijan: Building Competitive Workforce Capacity for Industry 4.0.(Sumy State University, 2021) Zeynalli, L.Human capital is one of the country’s most significant economic metrics. Today, of course, the advancement of technology, the production of inventions, is a result of the human brain. It, in effect, naturally happens in countries with highly evolved human capital. This paper summarizes the arguments and counterarguments within the scientific discussion on the issue priorities of human capital development in Azerbaijan during the industrial revolution.Item The Observational Socio-Economic Study and Impact on the International Innovative Leadership in the United States(Sumy State University, 2020) Kasztelnik, K.; Brown, D.This paper summarizes how socio-economic study has impact on the international innovative leadership in the United States. This article includes the review will focus and examine literature and theories related to public policy organizational effectiveness as well as diversity leadership. Online databases including search engines located relevant books, journals, articles, and dissertations. The search terms used were descriptive of various themes such as diversity, diversity leadership, public policy and public policy leadership, organizational leadership, public policy and leadership, cultural diversity, organizational effectiveness, and public policy effectiveness.