The Influences of Innovative Technology Competence in 4th Industrial Revolution on Exports of Korean Firms: Applying Gravity Factor Model in Firm-level OFDI

2019 ◽  
Vol 15 (4) ◽  
pp. 443-463
Author(s):  
Sung-Hwan Kim ◽  
Yeon-Woo Do ◽  
Jin-Geun Hong
Keyword(s):  
Industrial Revolution ◽  
Factor Model ◽  
Innovative Technology ◽  
Firm Level ◽  
Technology Competence

scholarly journals Literature Review of Technology Adoption Models at Firm Level; Special Reference to E-Commerce Adoption

2020 ◽  
pp. 1-9
Author(s):  
Kapila Fonseka ◽  
Dr. Adam Amril Jaharadak ◽  
Dr. Murali Raman ◽  
Dr. Isuri Roche Dharmaratne
Keyword(s):  
Technology Adoption ◽  
Industrial Revolution ◽  
Empirical Studies ◽  
Business Strategies ◽  
Innovative Technology ◽  
Adoption Studies ◽  
Firm Level ◽  
Fourth Industrial Revolution ◽  
The Past ◽  
Technological Adoption

With the onset of the fourth industrial revolution, technology has become a decisive part of human lives, and is used to speed up the processes of individuals and firms. The connected life employing the internet such as the adoption of e-commerce, which is an innovative technology adoption by firms as part of their business strategies is also one of the elements in the fourth industrial revolution, The successful innovative adoption is a critical task for any company and therefore, during the past few decades, the researchers have applied a few technological adoption models for their studies at the firm level.This paper aims to find-out the technological adoption models which were adopted by the researchers during the recent past for their technology adoption studies at a firm-level, especially on e-commerce adoption and implementation. Hence, this study focused on 50 empirical studies related to the technology adoption in different contexts within the past ten years and identified TOE and DOI theories, which are mostly applied or adopted by the researchers.

scholarly journals Adoption and Development of the Fourth Industrial Revolution Technology: Features and Determinants

2021 ◽  
Vol 13 (2) ◽  
pp. 871
Author(s):  
Hyuk Chung
Keyword(s):  
Strategic Alliance ◽  
Industrial Revolution ◽  
Probit Model ◽  
Innovative Technology ◽  
Firm Level ◽  
Fourth Industrial Revolution ◽  
Level Data ◽  
Tangible Assets ◽  
Sectoral Differences ◽  
Korean Firm

Firms have been undergoing a fundamental transformation of the Fourth Industrial Revolution, and the transformation is driven by the adoption and development of innovative technology such as big data or artificial intelligence. While the impacts of the Fourth Industrial Revolution technology on economic performance have been actively documented, Korean firm-level data indicates that still, the majority of firms have not yet utilized the Fourth Industrial Revolution technology. Hence, this study examines determinants and propensity for adopting and developing the Fourth Industrial Revolution technology. Probit model estimations show that size, internal R&D intensity, the ratio of intangible assets to the sum of intangible and tangible assets, and patent rights are positively associated with adopting and developing the innovative technology, while there are sectoral differences. Notably, a strategic alliance is the most substantial factor for the propensity of adopting and developing the Fourth Industrial Revolution technology. In sum, this study finds that not only internally accumulated intangibles and R&D investment but also active collaboration with other firms can facilitate diffusion of the Fourth Industrial Revolution technology. Therefore, building up the environment to prompt collaboration can be another effective way to accelerate transformation in addition to supporting R&D and intangible investment.

Information risk, stock returns, and asset pricing: Evidence from China

2017 ◽  
Vol 30 (4) ◽  
pp. 379-394 ◽  
Author(s):  
Raheel Safdar ◽  
Chen Yan
Keyword(s):  
Stock Returns ◽  
Factor Model ◽  
Empirical Literature ◽  
Firm Level ◽  
Cross Sectional ◽  
Market Pricing ◽  
Content Type ◽  
Information Risk ◽  
Accruals Quality ◽  
Three Factor

Purpose This study aims to investigate information risk in relation to stock returns of a firm and whether information risk is priced in China. Design/methodology/approach The authors used accruals quality (AQ) as their measure of information risk and performed Fama-Macbeth regressions to investigate association of AQ with future realized stock returns. Moreover, two-stage cross-sectional regression analysis was performed, both at firm level and at portfolio level, to test if the AQ factor is priced in China in addition to existing factors in the Fama French three-factor model. Findings The authors found poor AQ being associated with higher future realized stock returns. Moreover, they found evidence of market pricing of AQ in addition to existing factors in the Fama French three-factor model. Further, subsample analysis revealed that investors value AQ more in non-state owned enterprises than in state owned enterprises. Research limitations/implications The study sample comprises A-shares only and the generalization of the findings is limited by the peculiar institutional and economic setup in China. Originality/value This study contributes to market-based accounting literature by providing further insight into how and if investors value information risk, and it seeks to fill gap in empirical literature by providing evidence from the Chinese capital market.

scholarly journals Development of 3D Concrete Extrusion Nozzle for Producing Free-form Concrete Panels

2021 ◽  
Vol 12 (6) ◽  
pp. 427-436
Author(s):  
Ji-Yeong, Yun Et.al
Keyword(s):  
3D Printing ◽  
Construction Industry ◽  
Industrial Revolution ◽  
Production Equipment ◽  
Free Form ◽  
Innovative Technology ◽  
Production Sector ◽  
Construction Automation ◽  
Concrete Panels ◽  
Opening And Closing

There has been an increase in demand for free-form building through the development of advanced technologies, and the fourth industrial revolution has become a worldwide trend, thereby changing the construction industry. In particular, in the case of the free-form architecture sector, development of 3D printing technologies has been ongoing for construction automation. According to such trends, this study develops an FCP production equipment using 3D printing technologies. The FCP production equipment in this study is made up of mould equipment and 3D printer. It is different from existing 3D printing technologies so in this study 3D concrete extrusion nozzle must be developed for producing FCP. Basic design suitable to such requirements is proposed.  Applicability of the proposed design is checked and the nozzle form is concretized to draft the final drawing. In this study, slit-type opening and closing device for accurate extrusion stoppage of concrete and screw-type nozzle for adjusting pressure and extrusion speed were applied for the nozzle. This is expected to be innovative technology for the FCP production sector.

scholarly journals Exploring Innovation Ecosystem from the Perspective of Sustainability: Towards a Conceptual Framework

2019 ◽  
Vol 5 (3) ◽  
pp. 48 ◽  
Author(s):  
Liu ◽  
Stephens
Keyword(s):  
Supply Chain ◽  
Conceptual Framework ◽  
Industrial Revolution ◽  
Empirical Studies ◽  
Ecological Crisis ◽  
Supply Chain Collaboration ◽  
Innovation Ecosystem ◽  
Firm Level ◽  
Technology Advancement ◽  
The Impact

With technology advancement, industrial revolution 4.0, businesses nowadays are in competition in terms of product, service and business model innovation. Meanwhile, the emergent socio-ecological crisis is making it increasingly important to identify the impact of business on environment and the society. To date, much literature has explored how sustainability might be achieved through firms’ internal research and development, and supply chain collaboration. However, issues such as how different stakeholders including customers, partners, government, and universities can be involved, forming innovation ecosystem in a sustainable way is under-explored. This paper aims to provide connection between innovation and sustainability, through literature review and exploratory case studies. A conceptual framework is generated starting from firm/intra-firm level, to supply chain/inter-firm level, and towards ecosystem level. With emerging themes of innovation from sustainability perspective proposed, the framework can be enriched and validated through future empirical studies.

Industry 4.0 Adoption in Manufacturing Industries Using Technology-Organization-Environment Framework

2021 ◽  
Vol 14 (1) ◽  
pp. 123-146
Author(s):  
Kanchan Pranay Patil
Keyword(s):  
Value Chain ◽  
Industry 4.0 ◽  
Industrial Revolution ◽  
Manufacturing Industries ◽  
It Services ◽  
Factors Affecting ◽  
Technology Competence ◽  
A Value ◽  
Governance Practices ◽  
Trading Partners

This paper investigated the determinant factors affecting the Industry 4.0 ecosystem needed for the digitization and automation of manufacturing industries. The 4th industrial revolution implements a value chain by interfacing internet of things devices and robotics, data processing in the cloud using artificial intelligence-based analytics. The study was conducted in Pune, India, a manufacturing and IT services hub. It sought to identify Industry 4.0 facilitators and inhibitors by framing empirical data collected from 320 manufacturing facilities and analyzed using PLS-SEM within a model based on technology-organization-environment (TOE) theory and motivation-threat-ability (MTA) theory. The results confirmed that technology competence, organization scope, consumer readiness, competitive pressure, trading partners' readiness, and governance practices are the facilitators, whereas organization resistance inhibits Industry 4.0 adoption intentions. The outcome of this study shall provide guidelines to manufacturing industries management as well as technology solution providers.

scholarly journals Company fundamentals as determinants of firm-level equity premiums: Evidence from an emerging economy

2020 ◽  
pp. 6-6
Author(s):  
Muhammad Imran
Keyword(s):  
Panel Data ◽  
Least Squares Method ◽  
Factor Model ◽  
Stock Exchange ◽  
Equity Premium ◽  
Shareholder Wealth ◽  
Annual Data ◽  
Firm Level ◽  
Equity Premiums ◽  
Market Premium

Equity premium is a vital number to consider in finance when making fund allocations and investment decisions. This study explores the relationship between (controllable) determinants of firm-level equity premiums in the context of the Pakistan stock market. It uses a sample of 306 firms? annual data, from January 2001 to December 2015, using a two-stage least-squares method to estimate our panel data model (Wooldridge 2005; Arellano 2016). During the selected sample period, the average market premium of the Pakistan stock exchange (100 Index) was 20%. The average equity premium of individual firms was only 8%. Company fundamentals are considered determinants of firm-level equity premiums. Panel data econometrics techniques were used to estimate the modified version of the multi-factor model for the Pakistan Stock Exchange. It is found that the market premium, return on equity, dividend payout ratio, accounts receivable and firm size significantly and positively affect the firm-level equity premium. However, increase in the debt-to-equity and quick ratio negatively affect that premium. The company fundamental variables are controllable for the firms and can be improved by company management to encourage investors and maximize shareholder wealth.

scholarly journals Factor Model of Human Capital Accumulation in the Context of Global Challenges

2020 ◽  
Vol 80 ◽  
pp. 01012
Author(s):  
Ekaterina Zharova ◽  
Nickolay Minaev ◽  
Olga Gevorgyan
Keyword(s):  
Human Capital ◽  
Capital Accumulation ◽  
Industrial Revolution ◽  
Factor Model ◽  
Systematic Research ◽  
Human Capital Accumulation ◽  
Global Competitiveness ◽  
Global Challenges ◽  
Economic Formation

The transition to the fourth industrial revolution and the digital economy leads to a new socio-economic formation. In the new society, the place and role of human capital in the system of factors that ensure the socio-economic development of territories are being rethought. Human capital is becoming one of the key elements that ensure the sustainable development of territories and increase their global competitiveness. The increasing role of human capital creates a need to develop effective mechanisms for managing its accumulation and use, which requires systematic research of factors that affect this process. To solve this problem, the team of authors formed a factor model of the territory’s human capital accumulation in the context of global challenges and responses to them. The generated model was developed in such a way as to reflect the system of factors, as well as the nature of their influence and relationship.

Market pricing of liquidity risk: evidence from China

2019 ◽  
Vol 9 (4) ◽  
pp. 554-566
Author(s):  
Raheel Safdar ◽  
Mirza Sultan Sikandar ◽  
Tanveer Ahsan
Keyword(s):  
Risk Factor ◽  
Information Quality ◽  
Factor Model ◽  
Stock Exchange ◽  
Liquidity Risk ◽  
Market Liquidity ◽  
Firm Level ◽  
Cross Sectional ◽  
Market Pricing ◽  
Content Type

Purpose The purpose of this paper is to investigate whether liquidity risk (i.e. the returns’ vulnerability to the unexpected changes in overall market liquidity) is a priced risk factor in China. Moreover, it investigates the potential role of a stock’s information quality in reducing its liquidity risk during the period of post-non-tradable shares reforms in China. Design/methodology/approach The authors collect data of all the A-share issuing firms listed either on the Shanghai Stock Exchange or Shenzhen Stock Exchange during the period 2006–2016. The authors perform two-stage cross-sectional regression testing. First, the authors perform firm-specific time-series regressions of excess returns over Fama–French’s three-factor model and a liquidity factor. Second, to test whether firm-specific liquidity risk is a priced risk factor, the authors apply Fama and MacBeth’s regressions. Findings Firm-level asset pricing tests provide substantial evidence for market pricing of liquidity risk in China. The authors find a significant negative association between information quality and liquidity risk. The authors also find that the reduction in liquidity risk induced by better information quality is substantial enough to reduce required returns. These findings are robust to alternative measures of liquidity risk and information quality. Practical implications The study underscores that a policy initiative to enhance the information environment can significantly reduce the market volatility in China. Originality/value To the best of authors’ knowledge, this is the first study that considers the Shanghai Stock Exchange as well as Shenzhen Stock Exchange to investigate market pricing of liquidity risk in China.

scholarly journals The Influence of the Fourth Industrial Revolution on the Entrepreneur Leadership Attributes

2021 ◽  
Author(s):  
Ronnen Avny
Keyword(s):  
Industrial Revolution ◽  
Critical Factor ◽  
Innovative Technology ◽  
Source Codes ◽  
Leadership Attributes ◽  
Academic Knowledge ◽  
Fourth Industrial Revolution ◽  
Technology Advancement ◽  
Fast Pace ◽  
Leadership Study

Innovation, and especially innovation leadership, is a critical factor in enhancing a firm’s success in today’s changing markets. This research investigates changes in the entrepreneurial leadership attributes amid the fourth industrial revolution and how these changes relate to the fast pace of technology advancement. As part of the fourth industrial revolution, the barrier to introducing innovative technology has decreased due to the accessibility of high-end commercial capabilities, such as cloud computing, big-data capacities, open-source codes, and more, which reduce their need for in-house development. This research taps into the current academic knowledge gap and aims to understand how leadership traits (or attributes) may help fully exploit this significant revolution’s advantages and gain a competitive advantage over rivals. This paper also contributes to the knowledge of innovation study and entrepreneur leadership study. The research utilizes automated techniques of content analysis of published interviews and entrepreneurs’ biographies from recent years and the distant past. The results reveal that current entrepreneurs tend to be open-minded while avoiding rejecting innovation from other firms (avoiding “the not invented here” concept) and are willing to share the experience with the adjacent technology eco-system. The main conclusion of the research is that the entrepreneur in the current era should utilize the open innovation eco-system and gather the ingredients for innovation initiatives, and also have the ability to accurately seek the best offthe- shelf solution to use and integrate it while avoiding time- and budget-consuming development procedures.

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