The Financial Impact of Patents on SMEs in China: Empirical Evidence from Pharmaceutical Sector

2021 ◽  
pp. 097172182110470
Author(s):  
Ye Feng ◽  
Kunmeng Liu ◽  
Liyang Lyu ◽  
Guojun Sun ◽  
Yuanjia Hu
Keyword(s):  
Financial Performance ◽  
Generic Drugs ◽  
Positive Association ◽  
Financial Impact ◽  
Disruptive Technology ◽  
Chinese Drug ◽  
National Economic ◽  
One Year ◽  
Patent Indicators ◽  
Pharmaceutical Enterprises

With the disruptive technology innovation time arrival, small and medium-sized enterprises (SMEs) have been the motor of innovation and played an increasingly major role in national economic development. As the shift towards an ‘open innovation’ paradigm, awareness of intellectual property rights has increased, and patents have been an important tool for Chinese pharmaceutical enterprises. Considering its mass production of low-level generic drugs, there are still many arguments about its lack of innovation. This article aims to identify if and how patents, as essential indicators of innovation, generate financial performance measured by SMEs in the pharmaceutical sectors. Patent data are a vital source of competitive intelligence. A positive association was found between annually added patents and gross sales. Many other patent indicators, such as the number of forward citations and patent transfer, were statistically significant. Moreover, the results suggested that there was a one-year lag between patent publication and financial performance. A series of patent quantity and quality indicators have shown significant effects on the financial performance of Chinese pharmaceutical enterprises. These patents generate a positive financial impact, which builds up a solid basis for keeping sustainable innovation capability in the Chinese drug industry.

scholarly journals IMPACT OF DISRUPTIVE TECHNOLOGY ON THE PERFORMANCE OF INSURANCE FIRMS IN KENYA

2018 ◽  
Vol 3 (1) ◽  
pp. 72
Author(s):  
Ezekiel Owuor
Keyword(s):  
Big Data ◽  
Financial Performance ◽  
Data Analytics ◽  
Big Data Analytics ◽  
Disruptive Technology ◽  
Regulatory Body ◽  
Disruptive Technologies ◽  
Insurance Firms ◽  
Pdf Format ◽  
The Impact

Purpose:  The purpose of this paper was to explore the impact of disruptive technology on the performance of insurance firms in Kenya.Methods: The study utilized desktop literature review and focused on previously published journals in PDF format that address technology and the performance of insurance firms.  A total of 13 journals was found relating to technology and the performance of insurance firms. The study utilized a sample of 12 journals which were randomly selected from a list of published journals in PDF format relating to disruptive technology and performance of insurance firms. The theories underpinning of the study entailed Christensen's Theory of Disruptive Technology, the Diffusion of Innovation Theory and Schumpeterian Theory of Creative Destruction.Results: The review of literature revealed that various aspects of disruptive technology have a significant impact on organizational performance. The review showed that mobile phone technology has a significant influence and explains to a large extent the growth of micro insurance in Kenya. It was also found that the increase in industrial convergence, technological innovation and social digital trends increases the financial performance of financial institutions including insurance firms. The study also established that there is a strong and positive relationship between insurance innovation strategies and a firm’s performance. In addition, it was found out that real-time business evaluation through big data analytics boosts overall performance and profitability, thus thrusting the organization further into the growth cycle.Unique Contribution to theory, practice and policy: The leadership and management of insurance companies should put greater emphasis on the adoption of disruptive technologies to improve on both financial and non-financial performance as well as their competitiveness within the industry. These include Big Data, Analytics, Artificial Intelligence Systems, Cloud Computing and Digital Currency Technologies. Processes in the organizations should be refined to ensure that they are efficient and effective as this serves to increase market share and to reduce on operational costs. Moreover, explorations in disruptive technology should continue in the insurance industry as these would play a significant role in ensuring that efficiencies and effectiveness of business processes are achieved. The Insurance Regulatory Authority (IRA) should also develop policies that encourage innovation and the adoption of technology. The authority whilst exercising due diligence in its mandate to protect consumers should ensure policies do not stifle the growth and creativity of insurers. The regulatory body should also strive to create a favourable environment for the adoption of disruptive technologies.

scholarly journals The effect of four commercial broiler hybrids and the season on occurrence of broiler condemnations in the abattoirs

2020 ◽  
Vol 50 (10) ◽  
Author(s):  
Antonise Mariely Jaguezeski ◽  
Ana Martiele Engelmann ◽  
Ivna Nalério dos Reis Machado ◽  
Beatriz Pavei Bez Batti
Keyword(s):  
Financial Impact ◽  
Welfare Programs ◽  
Conviction Rate ◽  
Commercial Broiler ◽  
Different Seasons ◽  
Time Of Year ◽  
One Year ◽  
The One ◽  
Inspection Service ◽  
Abattoir Data

ABSTRACT: Condemnations in the broilers abattoirs can represent an overview farms health and effectiveness of welfare programs, as well as predisposition between hybrids. The aim of this study was to investigate the prevalence of condemnation among four commercial broiler hybrids and the oscillation of condemnations in different seasons in a poultry abattoir. Data from condemnations of the Federal Inspection Service of a slaughterhouse were analyzed during one year, in which a total of 12.81% of partial condemnations were observed and total condemnations represented 0.41% of slaughtered broiler. There was a difference in total and partial condemnation among the hybrids evaluated, with Hubbard hybrid being the one with the highest number of condemnations (0.67% - 17.71%), followed by Ross 95 (0.42% - 14.21%), Cobb (0.30% - 10.03%); and Cobb Fast (0.26% - 9.29%). The analysis between the seasons showed a higher conviction rate in winter and a lower rate in autumn for both total and partial condemnation. Hubbard had the highest rates and Cobb Fast the lowest for most causes of condemnation. We concluded that the metabolic cause led to higher losses by total condemnation, while contamination or technopathies represented the highest rates in partial losses. The broiler hybrid and the time of year may influence the causes of condemnation in the abattoir. This information should be considered by the abattoir and the farms in sanitary planning, considering the financial impact due to losses by condemnations of carcasses.

The effectiveness of flexible manufacturing strategies

2009 ◽  
Vol 58 (2) ◽  
pp. 119-135 ◽  
Author(s):  
Therese A. Joiner ◽  
X. Sarah Yang Spencer ◽  
Suzanne Salmon
Keyword(s):  
Financial Performance ◽  
Performance Measures ◽  
Flexible Manufacturing ◽  
Positive Association ◽  
Manufacturing Firms ◽  
Manufacturing Strategy ◽  
Organisational Performance ◽  
Content Type ◽  
Financial Performance Measures

PurposeAgainst a background of a customization imperative embraced by manufacturing firms in industrialised nations and the concomitant call for more balanced performance measurement systems (PMS), this study seeks to examine the mediating role of both non‐financial and financial performance measures in the relationship between a firm's strategic orientation of flexible manufacturing and organisational performance.Design/methodology/approachA path‐analytical model is adopted using questionnaire data from 84 Australian manufacturing firms.FindingsThe results indicate that, first, firms emphasising a flexible manufacturing strategy utilise non‐financial as well as financial performance measures; second, these performance measures are associated with higher organisational performance; and third, there is a positive association between a firm's strategic emphasis on flexible manufacturing and organisation performance via non‐financial and financial performance measures.Practical implicationsWhile there is agreement on the beneficial role of non‐financial performance measures in supporting strategic priorities associated with customization strategies, equivocal research results have emerged on the role of financial performance measures in this context. The study underscores the importance of both non‐financial and financial performance measures in this context.Originality/valueThe paper reinstates the value of financial performance measures for firms pursuing customization type strategies and adds to one's knowledge of PMSs by exploring the intervening role of such systems in linking flexible manufacturing strategy to organisation performance.

Caribbean Water Study

2021 ◽  
Author(s):  
Nils Janson ◽  
Lindsay N. Burkhard ◽  
Sara Jones
Keyword(s):  
Financial Performance ◽  
Performance Indicators ◽  
Disaster Preparedness ◽  
Disaster Response ◽  
Water Utilities ◽  
Financial Impact ◽  
The Caribbean ◽  
Residential Consumption ◽  
Post Disaster

The Caribbean Water Study describes the operational and financial performance of selected water utilities in the Caribbean as reported by the utilities as well as secodary sources, the situation of non-revenue water (NRW) among these utilities, the financial impact of COVID-19 on the utilites, and the issue of their resilience to natural disasters. Benchmarking of the key performance indicators for water utilities in the Caribbean shows how utilities are performing in relation to their peers across time. NRW is seen to be one of the biggest challenges for water utilities in the Caribbean and one of the most direct ways to improve a utilitys efficiency, financial performance, and quality of service. In addition, reducing NRW contributes significantly to climate change adaptation. Regarding financial impact of COVID-19, the Study found that due to the large decreases in non-residential consumption, most utilities registered a fall in revenues and in average tariffs. The Study elucidated the fact that their small size and limited resources of water utilities make it is difficult for them to recover from the devastation of a storm on their own and post-disaster response, natural disaster preparedness, investments to increase resiliency, and access to funds are of critical importance.

scholarly journals Organizational Culture and Open Innovation Performance in Small and Medium-sized Enterprises (SMEs) in Poland

2016 ◽  
Vol 51 (1) ◽  
pp. 104-138 ◽  
Author(s):  
Jolanta Mazur ◽  
Piotr Zaborek
Keyword(s):  
Organizational Culture ◽  
Financial Performance ◽  
Open Innovation ◽  
Structural Equation ◽  
Small And Medium Enterprises ◽  
Knowledge Exchange ◽  
Positive Association ◽  
Positive Influence ◽  
Main Hypothesis ◽  
Innovative Culture

AbstractThis study investigates the links between organizational culture, the use of open innovation sources and the performance of SMEs. The main hypothesis of the study is that a special type of organizational culture (termed innovative culture), which fosters creativity, learning and inter-employee cooperation – will correspond with a greater scope of open innovation sources and higher levels of innovative, operational and financial performance. The study was based on a representative CATI survey of 473 SMEs operating in manufacturing and services industries in Poland. Our statistical analysis relied on building and testing structural equation model with the AMOS software. The findings confirmed a positive association between innovative culture and the scope of open sources of innovation. However, innovative culture had no direct effect on the percentage of sales from new and modified products, which is often used as a metric of innovativeness, but did show a positive influence on an index of operational performance and ROI. Such statistical patterns suggest that fostering innovative culture is beneficial to a company, though probably not through an increased number of product innovations, but rather via process, administrative and marketing innovations, as well as other gains in efficiency attained due to more streamlined employee cooperation and knowledge exchange. The study adds to the existing body of knowledge in management science by providing a better understanding of mechanisms underlying innovative culture’s impacts on open innovation practices and metrics of operational and financial performance in the context of small and medium enterprises.

scholarly journals Is CSR performance related to disclosure tone in earnings announcements?

2019 ◽  
Vol 32 (2) ◽  
pp. 129-147
Author(s):  
Yu Lu ◽  
Steven Cahan ◽  
Diandian Ma
Keyword(s):  
Earnings Management ◽  
Financial Performance ◽  
Manufacturing Industry ◽  
Earnings Announcements ◽  
Positive Association ◽  
Socially Responsible ◽  
Content Type ◽  
Sensitivity Tests ◽  
Disclosure Tone ◽  
Corporate Social

Purpose This study aims to examine whether the disclosure tone in earnings announcements is related to a firm’s corporate social responsibility (CSR) performance. Design/methodology/approach Considering the lower likelihood of earnings management conducted by CSR-conscious firms, and the significant market impact of the tone of disclosure in the earnings announcements, the study investigates whether firms with good CSR performance attempt to influence investors’ judgements through “soft information” and, thus, produce earnings announcements with more positive tone. Specifically, it examines whether CSR performance is positively related to the optimistic disclosure tone in earnings announcements. Findings The study finds that more socially responsible firms exhibit a more optimistic tone in earnings announcements. The findings are robust to a variety of sensitivity tests and data from different years. Furthermore, the study finds that the positive association between CSR performance and disclosure tone in the earnings announcement is particularly apparent in the manufacturing industry. Research limitations/implications This study contributes to the literature in multiple ways. Practical implications These findings should assist regulators in better understanding the verbal components in earnings announcements. Social implications It is possible that firms might opportunistically engage in CSR activities to enhance their social image to exaggerate financial performance and influence investors’ 2019 decisions. Originality/value These results show that CSR performance is positively associated with the optimistic tone in earnings announcements. The findings are consistent with two alternative interpretations. First, even though CSR-conscious firms are unlikely to engage in earnings management, they may engage a more subtle form of impressions/tone management. Second, firms with better CSR performance may have better financial performance, and thus are more confident and optimistic, resulting in a more positive tone in their earnings announcements. As the study controls for financial performance and find a positive relation between CSR concerns and optimism in earnings announcements, it favors the previous explanation.

scholarly journals ANALISIS PERBANDINGAN KINERJA KEUANGAN PERUSAHAAN SEBELUM DAN SESUDAH AKUISISI

2018 ◽  
Vol 7 (5) ◽  
pp. 2323
Author(s):  
Putu Yulia Kumalasari Dewi ◽  
Ni Putu Santi Suryantini
Keyword(s):  
Financial Performance ◽  
T Test ◽  
Corporate Financial Performance ◽  
Financial Condition ◽  
Analysis Technique ◽  
Before And After ◽  
Acquisition Strategy ◽  
One Year ◽  
A Company ◽  
Paired T Test

Financial performance is a reflection of the financial condition of a company. The purpose of this study is to determine the significance of differences in corporate financial performance before and after the acquisition of mining acquisition companies in the BEI period 2011-2013 by analyzing financial performance one year before and one year after acquisition. The method of determining the sample is the census that the entire population is used as a sample which is obtained by 5 acquirer companies. The analysis technique used is paired t-test (Pair-Sample T-test). Based on the results of the analysis found that financial performance measured by five financial ratios of CR, ROA, DER, TATO, PER that did not differ significantly after acquisition compared to before acquisition. The acquisition strategy has not been fully achieved due to the condition of financial performance after the acquisition has not increased. The motive of the acquisition is not economic but non-economic. The acquirer company which to achieve success, must make preparations by looking at the conditions of the company to be taken over.

Dynamics for the Acceptance of Enterprise Resource Planning (ERP) Systems and Financial Performance

2016 ◽  
Vol 11 (01) ◽  
Author(s):  
Pallavi Jain ◽  
Jai Kishore Tyagi
Keyword(s):  
Financial Performance ◽  
Enterprise Resource Planning ◽  
Relevant Literature ◽  
Positive Association ◽  
Resource Planning ◽  
Research Paper ◽  
Empirical Literature ◽  
Future Research ◽  
Erp Systems ◽  
Insight Into

The purpose of this research paper to present thesynthesized theoretical and empirical literature to help in thedevelopment of propositions and suggestions of a researchagenda on the acceptance of ERP systems and their link with financial performance. The paper develops the technologyacceptance model (TAM) to synthesize relevant literature andto develop proposition for future research agendas. This researchprovides a positive association between the acceptance of ERPsystems and financial performance. Also, the use of TAMtheory provides further insight into identifying the acceptancefactors of ERP.

The effects of corporate governance on financial performance and financial distress: evidence from Egypt

2015 ◽  
Vol 15 (5) ◽  
pp. 641-662 ◽  
Author(s):  
Tamer Mohamed Shahwan
Keyword(s):  
Corporate Governance ◽  
Firm Performance ◽  
Financial Performance ◽  
Financial Distress ◽  
Emerging Market ◽  
Negative Relationship ◽  
Positive Association ◽  
Time Frame ◽  
Content Type

Purpose – This paper aims to empirically examine the quality of corporate governance (CG) practices in Egyptian-listed companies and their impact on firm performance and financial distress in the context of an emerging market such as that of Egypt. Design/methodology/approach – To assess the level of CG practices at a given firm, the current study constructs a corporate governance index (CGI) which consists of four dimensions: disclosure and transparency, composition of the board of directors, shareholders’ rights and investor relations and ownership and control structure. Based on a sample of 86 non-financial firms listed on the Egyptian Exchange, the effects of CG on performance and financial distress are assessed. Tobin’s Q is used to assess corporate performance. At the same time, the Altman Z-score is used as a financial distress indicator, as it measures financial distress inversely. The bigger the Z-score, the smaller the risk of financial distress. Findings – The overall score of the CGI, on average, suggests that the quality of CG practices within Egyptian-listed firms is relatively low. The results do not support the positive association between CG practices and financial performance. In addition, there is an insignificant negative relationship between CG practices and the likelihood of financial distress. The current study also provides evidence that firm-specific characteristics could be useful as a first-pass screen in determining firm performance and the likelihood of financial distress. Research limitations/implications – The sample size and time frame of our analysis are relatively small; some caution would be needed before generalizing the results to the entire population. Practical implications – The findings may be of interest to those academic researchers, practitioners and regulators who are interested in discovering the quality of CG practices in a developing market such as that of Egypt and its impact on financial performance and financial distress. Originality/value – This paper extends the existing literature, in the Egyptian context in particular, by examining firm performance and the risk of financial distress in relation to the level of CG mechanisms adopted.

scholarly journals LOCAL ECONOMIC VOTING AND RESIDENCE-BASED REGIONALISM IN SOUTH KOREA: EVIDENCE FROM THE 2007 PRESIDENTIAL ELECTION

2016 ◽  
Vol 16 (3) ◽  
pp. 349-369 ◽  
Author(s):  
Woo Chang Kang
Keyword(s):  
South Korea ◽  
Presidential Election ◽  
Positive Association ◽  
Economic Voting ◽  
Economic Conditions ◽  
Economic Changes ◽  
Individual Level ◽  
Regional Parties ◽  
National Economic ◽  
The Individual

AbstractRegional bloc voting in South Korea has been ascribed to voters’ psychological attachments to birthplace. This article seeks to expand the existing discussion of regionalism by showing that economic conditions in voters’ places of residence affect vote choices at the individual level and produce clustering of votes at the aggregate level in South Korea. While the idea of residence-based regionalism has previously been suggested, empirical scrutiny of the idea has been limited. Exploiting a Bayesian multilevel strategy, this article provides evidence that short-term economic changes at the province level affected voters’ choices in the 2007 presidential election in South Korea, independent of the long-term political affiliation between regional parties and their constituents. The positive association between local economic conditions and vote choices remains significant, controlling for perceptions of national economic conditions and other individual level covariates such as age and political attitudes.

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