scholarly journals Linkage Between Inclusive Digital Finance and High-Tech Enterprise Innovation Performance: Role of Debt and Equity Financing

2021 ◽  
Vol 12 ◽  
Author(s):  
Huiyuan Han ◽  
Xiaomin Gu
Keyword(s):  
Resource Dependence ◽  
Resource Dependence Theory ◽  
Debt Financing ◽  
Innovation Performance ◽  
Financial Inclusion ◽  
High Tech ◽  
External Financing ◽  
Equity Financing ◽  
Peking University

This study investigates the relationship between digital financial inclusion, external financing, and the innovation performance of high-tech enterprises in China. The choice of corporate financing methods is an important part of organizational behavioral psychology, and different financing models will have a certain effect on organizational performance, especially in the digital economy environment. Therefore, based on resource dependence theory and financing constraint theory, the present study utilizes the panel data collected from the China Stock Market & Accounting Research (CSMAR) database from 2011 to 2020 of 112 companies in the Yangtze River Delta region and the “The Peking University Digital Financial Inclusion Index of China (PKU-DFIIC)” released by the Peking University Digital Finance Research Center and Ant Financial Group. The results show that the Digital Financial Inclusion Index (DFIIC) has a significant positive correlation with the innovation performance of high-tech enterprises. The higher the level of debt financing, the stronger the role of digital financial inclusion in promoting innovation performance. Investigating the DFIIC in terms of coverage breadth and usage depth, we find that usage depth does not significantly encourage innovation performance. The effect of the interaction between coverage breadth and external financing is consistent with the results for the DFIIC. The study suggests that equity financing promotes the usage depth of the DFIIC in state-owned enterprises. In contrast, debt financing promotes the coverage breadth of non-state-owned enterprises. Finally, we propose relevant policy recommendations based on the research results. It includes in-depth popularization of inclusive finance in the daily operations of enterprises at the technical level, refinement of external financing policy incentives for enterprises based on the characteristics of ownership, and strengthening the research of technologies such as big data, artificial intelligence (AI), and cloud computing. The paper presents a range of theoretical and practical implications for practitioners and academics relevant to high-tech enterprises.

Inclusive Digital Finance, External Financing, and High-Tech Enterprise Innovation Performance

2021 ◽  
Vol 7 (6) ◽  
pp. 6555-6571
Author(s):  
Han Huiyuan ◽  
Gu Xiaomin
Keyword(s):  
Yangtze River Delta ◽  
Debt Financing ◽  
Innovation Performance ◽  
Financial Inclusion ◽  
High Tech ◽  
External Financing ◽  
Equity Financing ◽  
Financing Policy ◽  
Peking University ◽  
Enterprise Innovation

This study investigates the relationship between digital financial inclusion, external financing, and the innovation performance of high-tech enterprises in China. The present analysis utilizes the panel data from 2011 to 2018 of 114 companies in the Yangtze River Delta region and the "The Peking University Digital Financial Inclusion Index of China” (PKU-DFIIC) released by the Peking University Digital Finance Research Center and Ant Financial Group. The results show that the Digital Financial Inclusion Index (DFIIC) has a significant positive correlation with the innovation performance of high-tech enterprises.The higher the level of debt financing, the stronger the role of digital financial inclusion in promoting innovation performance. Investigating the DFIIC in terms ofcoverage breadth and usage depth, we find that usage depth does not significantly encourage innovation performance. The effect of the interaction between coverage breadth and external financing is consistent with the results for the DFIIC.The study suggest that equity financing promotes the usage depth of the DFIIC in state-owned enterprises. In contrast, debt financing promotes the coverage breadth of non-state-owned enterprises. Finally, we propose relevant policy recommendations based on the research results. It includes in-depth popularization of inclusive finance in the daily operations of enterprises at the technical level, refinement of external financing policy incentives for enterprises based on the characteristics of ownership, and strengthening of the research of technologies such as big data, Al, and cloud computing.

scholarly journals Reverse resource exchanges in service supply chains: the case of returnable transport packaging

2016 ◽  
Vol 21 (3) ◽  
pp. 381-397 ◽  
Author(s):  
Kostas Selviaridis ◽  
Aristides Matopoulos ◽  
Leslie Thomas Szamosi ◽  
Alexandros Psychogios
Keyword(s):  
Resource Dependence ◽  
Single Case ◽  
Resource Dependence Theory ◽  
Third Party ◽  
Content Type ◽  
Contractual Governance ◽  
Contractual Agreements ◽  
Service Supply Chains

Purpose The purpose of this paper is to understand how reverse resource exchanges and resource dependencies are managed in the service supply chain (SSC) of returnable transport packaging (RTP). Design/methodology/approach A single case study was conducted in the context of automotive logistics focusing on the RTP SSC. Data were collected through 16 interviews, primarily with managers of a logistics service provider (LSP) and document analysis of contractual agreements with key customers of the packaging service. Findings Resource dependencies among actors in the SSC result from the importance of the RTP for the customer’s production processes, the competition among users for RTP and the negative implications of the temporary unavailability of RTP for customers and the LSP (in terms of service performance). Amongst other things, the LSP is dependent on its customers and third-party users (e.g. the customer’s suppliers) for the timely return of package resources. The role of inter-firm integration and collaboration, formal contracts as well as customers’ power and influence over third-party RTP users are stressed as key mechanisms for managing LSP’s resource dependencies. Research limitations/implications A resource dependence theory (RDT) lens is used to analyse how reverse resource exchanges and associated resource dependencies in SSCs are managed, thus complementing the existing SSC literature emphasising the bi-directionality of resource flows. The study also extends the recent SSC literature stressing the role of contracting by empirically demonstrating how formal contracts can be mobilised to explicate resource dependencies and to specify, and regulate, reverse exchanges in the SSC. Practical implications The research suggests that logistics providers can effectively manage their resource dependencies and regulate reverse exchanges in the SSC by deploying contractual governance mechanisms and leveraging their customers’ influence over third-party RTP users. Originality/value The study is novel in its application of RDT, which enhances our understanding of the management of reverse exchanges and resource dependencies in SSCs.

scholarly journals Role of Business Age, Scale & Risk in Debt Financing Choices for the Pakistani Textile & Apparel Industry

e-Finanse ◽  
2020 ◽  
Vol 16 (3) ◽  
pp. 119-136
Author(s):  
Zahid Bashir ◽  
Muhammad Usman Arshad ◽  
Muhammad Asif ◽  
Muhammad Abbas ◽  
Hasnain Ali
Keyword(s):  
Debt Financing ◽  
Future Research ◽  
Debt Ratio ◽  
Equity Financing ◽  
Tax Shield ◽  
Total Debt ◽  
Textile And Apparel ◽  
Financing Choice

Abstract The motivation for this research enquiry is to identify the role of the business age, size and risk for the choice of debt financing in the textile and apparel sector of Pakistan along with other controlled factors. The textile and apparel sector of Pakistan comprises 464 listed entities as the targeted population while the study randomly finalized 60 firms as the sample after carefully analyzing the required information from the financial statements during the annual revenue streams of 2013-2019. The predicted variable for this research enquiry is measured by short, long and total-debt ratios while the predictor variables include the business age, firm’s scale and risk. In addition, the research includes tax shield, tangibility, liquidity, profitability, and growth as the controlling factors. The study estimated that the choice of total-debt ratio is strongly affected by business age, size and risk along-with tax shield, tangibility, liquidity and profitability while the choice of short-term debt ratio mainly depends upon the firm’s scale and age along with the tax shield. In addition, the choice of long-term debt ratio is strongly explained by the firm’s scale and age along with the tax shield, liquidity and profitability. The estimated evidence provides management with the implications for the textile and apparel sector of Pakistan to consider as significant factors in deciding the debt financing choice of this sector. The estimated evidence of this research enquiry applies to the non-financial textile sector only and cannot be generalized to the financial sector. Future research may enhance the financing choice towards the inclusion of equity financing with the same set of variables.

scholarly journals Corporate Philanthropy and Innovation Performance

2018 ◽  
Vol 13 (4) ◽  
pp. 173
Author(s):  
Shaoyan Jiang ◽  
Jingwen Mi ◽  
Xiaohui Tao ◽  
Wanwan Hu
Keyword(s):  
Information Disclosure ◽  
Theoretical Basis ◽  
Quantitative Data ◽  
Resource Dependence ◽  
Corporate Philanthropy ◽  
Resource Dependence Theory ◽  
Innovation Performance ◽  
Quantitative Data Analysis ◽  
Dependence Theory ◽  
The Impact

Corporate Philanthropy and innovation performance are the focuses of enterprise research in recent years. Based on resource dependence theory and information disclosure theory, the paper explores the impact of philanthropic donations on innovation performance. Through the quantitative data analysis of 319 enterprises in China, the results show that: (1) There is an obviously positive correlation between philanthropic donations and innovation performance, which will be affected by the scale of enterprises. (2) The disclosure of philanthropic information will weaken the promotion effect of philanthropic donation on innovation performance. The conclusion of the study made a useful extension of the existing philanthropic donation literature and provided a theoretical basis for the philanthropic practice of the enterprise.

The relationship among knowledge-based dynamic process capabilities, innovation processes and innovation performance: an empirical study of knowledge-based high-tech companies in Iran

Kybernetes ◽  
2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Farzad Nazari ◽  
Amir Rahimipour Anaraki ◽  
Seyedeh Safiyeh Taghavi ◽  
Behzad Ghasemi
Keyword(s):  
Dynamic Process ◽  
Innovation Performance ◽  
Equation Modeling ◽  
High Tech ◽  
Content Type ◽  
Knowledge Based ◽  
Mediator Role ◽  
The Relationship ◽  
Innovation Processes

Purpose The purpose of this paper is to investigate the impact of knowledge-based dynamic process capabilities (KBDPCs) on innovation performance, considering the mediator role of innovation processes in the Iranian knowledge-based high-tech companies. Design/methodology/approach Based on an in-depth review of previous studies, the indicators pertaining to the research constructs were extracted. Then, exploratory and confirmatory factor analyses were applied to identify and confirm the research constructs. Partial least squares-based structural equation modeling was used to investigate the intended relationships. Findings The results of the direct effect showed that KBDPCs have a significant positive effect on innovation performance. Further, moderation analysis demonstrated that innovation processes are moderated by the relationship between KBDPCs and innovation performance. Accordingly, the findings revealed that KBDPCs affect product innovation performance and exploratory innovation and transitional innovation increase this effect. Also, the mediator role of exploitation innovation in the relationship between KBDPCs and process innovation performance was proved. Research limitations/implications As this research was performed in the Iranian context, caution should be taken regarding the generalizability of the findings. Practical implications This paper provides a roadmap based on existing scenarios to enhance innovation performance for the surveyed-companies, in particular, and other companies, in general. Social implications The social implication of this study is to respond to the challenge of the managers of Iranian knowledge-based high-tech companies to improve innovation performance through KBDPCs and innovation processes and to grow and develop a sustainable business. Originality/value Given rare studies that have so far been conducted on the research field, this study extends the theories of KBDPCs, innovation processes and innovation performance. The constructs of the research model and relationships intended among them are also significant.

scholarly journals The Role of Nonprofit–Private Collaboration for Nonprofits’ Organizational Resilience

2021 ◽  
Author(s):  
Rebecca Waerder ◽  
Simon Thimmel ◽  
Benedikt Englert ◽  
Bernd Helmig
Keyword(s):  
Nonprofit Organizations ◽  
Resource Dependence ◽  
Resource Dependence Theory ◽  
Organizational Resilience ◽  
Term Survival ◽  
Emotional Challenges ◽  
For Profit

AbstractGrowing social, political, and economic uncertainties have shown that organizational resilience is becoming increasingly important for nonprofit organizations (NPOs). To ensure their long-term survival, NPOs need to respond to extreme events and adapt their services and processes. The theoretical premise of resource dependence theory assumes that interactions between an organization and its environment are crucial for the long-term adaptation to adversities. The present study investigates the contributions of nonprofit–private collaborations to organizational resilience of NPOs in light of the refugee crisis in Germany in 2015. Findings from a multiple holistic case study design indicate that collaborations of nonprofits with for-profit organizations support NPOs with stability, resources, expertise, and compassion to overcome resource-based, conceptual, and emotional challenges.

scholarly journals Women directors and exporting activity: The moderating role of network advice

2020 ◽  
Vol 9 (2) ◽  
pp. 106 ◽  
Author(s):  
Bochra Idris ◽  
George Saridakis
Keyword(s):  
Resource Dependence ◽  
Negative Relationship ◽  
Resource Dependence Theory ◽  
Women Directors ◽  
Resource Based View ◽  
The Social ◽  
The Board Of Directors ◽  
The Uk ◽  
Moderating Role

We use data from Small and Medium Sized Enterprises (SMEs) in the UK to examine the link between the presence of women directors and exporting activity. To do this, we build on resource-based view (RBV) and resource dependence theory (RDT) and show that SMEs with women on the board of directors are less likely to be involved in exporting activity compared to SMEs without women directors. Nevertheless, this negative relationship is moderated by seeking network advice, which can be explained through the social network theory (SNT).

The Role of Strategic Alliances in the International Organization of Industry

1993 ◽  
Vol 25 (9) ◽  
pp. 1229-1246 ◽  
Author(s):  
R Ahern
Keyword(s):  
Strategic Alliances ◽  
Small Firms ◽  
Resource Dependence ◽  
Resource Dependence Theory ◽  
Market Demand ◽  
Economic Activities ◽  
Partial Synthesis ◽  
Foreign Markets ◽  
Efficient Access

In this study the motivations for entering international strategic alliances are investigated. The reasons for alliance entry reflect the ways firms are restructuring economic activities. A theoretical basis for the study is built from the conceptual arguments of transaction-cost theory and resource-dependence theory. A partial synthesis of the two approaches suggests that alliances are especially well suited to the combined pursuit of increased efficiency and reduced uncertainty. The empirical investigation is based on a series of thirteen case studies, each involving a small Canadian firm and a foreign partner. Growth resulting from efficient access to foreign markets was an important reason for Canadian firms to enter alliances. Collaboration enabled small firms to learn about market demand. This information reduced the uncertainty of international marketing, and was used to guide the development and modification of products. Complementary abilities, where the Canadian firms offered technology and their foreign partners had marketing capabilities, were at the heart of most alliances. In general, alliances were considered necessary to protect proprietary information and to forge strong links with firms taking over important downstream functions.

Sign in / Sign up

Export Citation Format

Share Document