scholarly journals Characteristics of Services and Interdependency between Export and Innovation Intensity in the Sector of the Business Services

2021 ◽  
pp. 93-131
Author(s):  
Janez Rogelj ◽  
◽  
Štefan Bojnec ◽  
Klavdij Logožar ◽  
◽  
...  
Keyword(s):  
Quality Control ◽  
Financial Services ◽  
Probit Model ◽  
Distribution Channels ◽  
Business Services ◽  
Preliminary Results ◽  
Innovation Activities ◽  
Export Behaviour ◽  
Innovation Intensity ◽  
High Degree

In this chapter, we study services and their unique characteristics. We focus on characteristics of services, such as intangibility, immateriality; invisibility; perishability; temporary existence, sensitivity on time; non storability; inseparability; lack of inventory; sensibility of quality control; high degree of risk or difficulty in experimentation; no return possibility at un-satisfaction; customisation requirements; different distribution channels; and no rivalry. We also analyse the relations between exports, investments in development and innovation activities of Slovene business services sectors in two statistically different periods (2002-2008 and 2010-2016). A two-step approach to examine the firms’ performance in the selected business non-financial services sectors was applied. First, we used Simple Probit model, and in the second step, Simultaneous Probit model was used. The preliminary results suggest that the investment in R&D activities encourages export behaviour and that the export behaviour encourages investment in R&D activities.

An Assessment of International Competitiveness in CARICOM Services Exports

2015 ◽  
Vol 15 (4) ◽  
pp. 525-558 ◽  
Author(s):  
Troy Lorde ◽  
Antonio Alleyne ◽  
Brian Francis
Keyword(s):  
Financial Services ◽  
Business Services ◽  
Transportation Services ◽  
Economic Growth And Development ◽  
Agricultural Exports ◽  
Export Competitiveness ◽  
Recreational Services ◽  
Communications Services ◽  
Travel Services ◽  
High Degree

CARICOM countries have determined that the export of services is the platform for future development of their economies in light of the loss of preferences for their traditional agricultural exports. This paper aims to determine if services can indeed fulfill this objective for the region within the context of international export competitiveness. We addressed the following questions: Which services exports in CARICOM countries are globally competitive; what is the degree of diversification in services exports; and what is the extent of export similarity in services in CARICOM. On a whole, other than Travel Services, and to a much lesser extent, Insurance Services, very few services exports in CARICOM countries are globally competitive. Most notably, Financial Services in the region, a sector touted as one to which several CARICOM countries are looking for future economic growth and development, are not competitive. St. Lucia and Jamaica are the only countries to exhibit advantages in Computer and Information Services and Personal, Cultural, and Recreational Services respectively. Guyana is competitive in Communications Services and Royalties and License Fees and Suriname in Transportation Services, Government Services and Other Business Services. Further, there is little diversification in services exports. Compounding this problem, there is a high degree of services exports similarity. If countries in the region wish to stake their future on the performance of services, regional governments will need to put in place strategies to enhance the sector’s competitiveness.

INTERDISCIPLINARY LINKS, INTEGRATIVE APPROACH,HEURISTIC METHODS AND ARTIFICIAL INTELLIGENCE IN THE MANAGEMENT OF INNOVATION - PART 1

2018 ◽  
Vol 28 (5) ◽  
pp. 1527-1532
Author(s):  
Hristo Patev
Keyword(s):  
Artificial Intelligence ◽  
Production Systems ◽  
Innovation Management ◽  
Integrative Approach ◽  
Heuristic Methods ◽  
Organizational Renewal ◽  
Innovation Activities ◽  
Management Of Innovation ◽  
Inventive Activity ◽  
High Degree

In this first work, out of the total of twenty-four, are considered: Integrative approach, interdisciplinary relations and transnational language in the technical and economic fundament of engineering and management, for the purpose of competitive innovation and successful business. Approaches to develop the innovation with a high degree of complexity. Interactive heuristic methods and algorithms for inventive activity, for inspiring and developing new industrial products and services for households and production systems. Implementing an effective business vocabulary for organizational renewal. Introduction of gaming and "art" methods in innovation management. Intensifying innovation activities through an attempt to introduce artificial intelligence into teamwork, with simultaneous implementation of an engineering and non-engineering approach.

scholarly journals Strengthening the Innovation Resilience of Polish Manufacturing Firms in Unstable Environments

2021 ◽  
Author(s):  
Anna Wziątek-Kubiak ◽  
Marek Pęczkowski
Keyword(s):  
Public Support ◽  
Probit Model ◽  
Manufacturing Firms ◽  
Community Innovation Survey ◽  
Innovation Activities ◽  
Turbulent Times ◽  
Unstable Environment ◽  
Innovative Resources ◽  
Accuracy Of Prediction ◽  
Second Period

AbstractThis study examines factors that increase resilience in innovation of Polish manufacturing firms in an unstable environment. Organizational resilience in innovation is the ability to continuously perform innovation in a turbulent environment and increase knowledge accumulation. In 2008–2012, Poland did not have crisis itself. Short-term slowdown of the economy was accompanied by a breakdown of innovation activities, with a medium-term effect. Based on the Polish Community Innovation Survey panel data for two periods: the innovation crisis (2008–2010), and the innovation pessimism period (2010–2012), this study shows which innovative resources change the probability of innovation continuity in the second period. In our probit model, we explore 42 factors of innovations. We found that financing, R&D and marketing increased the probability of continuity of innovation, but the influence of financing was the strongest. Persistence in innovation in turbulent times hence requires a change in the structure of innovation resources used. Due to the fact that public support on innovation did not increase the likelihood of the continuity of the innovation, a policy change is required. Reliability of our estimation is confirmed by accuracy of prediction of firms, which was 78.2%.

scholarly journals The Impact of Financial Development on Innovation Activities in Emerging and Developing Countries

2019 ◽  
Vol 10 (1) ◽  
pp. 112 ◽  
Author(s):  
KamiliaKamilia LoukilLoukil
Keyword(s):  
Developing Countries ◽  
Financial Development ◽  
Financial Services ◽  
Positive Impact ◽  
Threshold Model ◽  
Threshold Value ◽  
Innovation Activities ◽  
Linear Effects ◽  
Emerging And Developing Countries ◽  
The Impact

We investigate in this paper the effect of financial development on innovation in emerging and developing countries. The estimation of panel threshold model for a sample 54 countries during the period 1980-2009 shows the presence of non linear effects in the relationship between financial development and innovation. We find a threshold value of economic development below which the financial development level has no significant impact on innovation and above which financial development has a significant positive impact on innovation. In sum, our findings suggest that the presence of a healthy economic environment is crucial for financial institutions to offer high-quality financial services, promoting more innovation.

scholarly journals THEORETICAL BASES OF THE INNOVATIVE ACTIVITY OF THE CANNING ENTERPRISE RESEARCH

2017 ◽  
Vol 19 (1(63)) ◽  
pp. 139-144
Author(s):  
O.I. Laiko ◽  
V.S. Ivanchenkov ◽  
I.V. Strutynska
Keyword(s):  
Financial Services ◽  
Innovation Process ◽  
Research Process ◽  
Innovative Activity ◽  
Black Sea Region ◽  
Financial Investment ◽  
Innovation Activities ◽  
Definition Of ◽  
Canning Industry

It is considered the essence of the terms of innovations and innovative activity of the canning industry enterprise, on example of enterprises of the Ukrainian Black Sea region. It is improved the classification of types of innovations and innovative processes for canning enterprises, by allocating relevant classification groups, that are actual in the aspect of modern scientific and practical approaches. The economic essence of the category of innovative susceptibility of enterprises is determined. According to the modern requirements and challenges that arise in the process of transformation of the national economic system it is determined the need of update of the theoretical basis for the study of innovation processes, and it is proved the necessity of formulation of the objective definitions and classifications of innovations, of the types of innovation activities that make key-point in the research process of the current realities of economic development. As a result of the research of various types and definitions of innovations, it is established that the most important for the analyzing process of innovations for enterprises in the canning industry are such classifications, which are based on the degree of participation in the production process (production and non-productive innovations: administrative, in other processes of internal management, in the processes of supply-sales, in circulation processes, financial services), on the functional purpose of innovations (production and technological, personnel, economic, logistic, marketing, financial, investment, infrastructure innovations). The definition of innovations for canning enterprises is given in the article, it is developed the classification of types of innovation for the canning enterprise that is oriented on objective features and distinguishes of the innovation process, which is actually carried out by domestic enterprises that allows to take into account the aspect of actuality.

scholarly journals Financial-credit sector in socioeconomic development strategy of the Republic of Azerbaijan

2019 ◽  
Vol 2 ◽  
pp. 65-70
Author(s):  
Leyla Mirgamishli ◽  
Keyword(s):  
Development Strategy ◽  
Financial Services ◽  
Socioeconomic Development ◽  
Information Support ◽  
Digital Information ◽  
Road Map ◽  
Financial Credit ◽  
The Republic ◽  
High Degree ◽  
Modern Technologies

Given the high degree of openness of the Azerbaijani economy and the sensitivity of national banks to global challenges, the Strategic Road Map on the development of financial services was developed and introduced in 2016 in the Republic. The project was created taking into account the principles of modern technologies: financial inclusion; digital information support; protection of the rights of consumers of banking services; etc. The project implementation led to the modernization of the financial and credit sector of the Republic of Azerbaijan, to the introduction of modern operating systems in various segments of financial institutions.

Artificial Intelligence Update—Gaining Ground across Many Sectors

2018 ◽  
Keyword(s):  
Artificial Intelligence ◽  
Financial Services ◽  
Family Members ◽  
Aging Population ◽  
Business Services ◽  
The Future ◽  
Heavy Burden ◽  
The Many

The following article tracks the leading trends in Artificial Intelligence (“AI”), focusing specifically on companies in the Financial Services, Healthcare and Business Services arenas. Wide-ranging exploration in the space charted the many breakthroughs and triumphs in developing AI and the roadblocks in commercializing the technology in areas such as self-driving, machine-diagnosing and the future of autonomous decisions. A clear consensus on the future of AI is automation, particularly where traditional systems are reaching natural limits. For example, in Healthcare, hospice has experienced very little innovation. However, the aging population is taxing the hospice system with a heavy burden falling on otherwise productive family members. How can AI add capacity or improve the effectiveness of hospice? It seems inevitable that AI will play a role by progressing quality in the future of our lives.

Global E-Banking Trends

2010 ◽  
pp. 1-16
Author(s):  
Sujana Adapa
Keyword(s):  
Financial Services ◽  
Management Strategies ◽  
Distribution Channel ◽  
Distribution Channels ◽  
Alternative Strategy ◽  
Future Directions ◽  
Bank Branches ◽  
Industrialized Nations ◽  
Traditional Mode ◽  
The Impact

The traditional mode of delivering products and services by banks to the consumers’ is through a single distribution channel and that is physical bank branches. Financial services industry is metamorphosing due to the advent of internet, rapid technological evolutions, deregulation, globalization as well as the impact of changing competitive and regulatory forces. In order to cope with the quick changes in the business scenario, banks started to rely on distribution channels as an alternative strategy for differentiation and gaining further competitive advantage. The abovementioned paved way for the development of the ebanking phenomena. This chapter attempts to provide a comprehensive explanation of what ebanking is, the evolution of ebanking, existing trends of ebanking in developed, developing and newly industrialized nations, future directions for further possible research and concluding remarks. The content provided in this chapter would be useful for existing and potential banks to better understand the global ebanking trends and thus aid in the effective formulation of channel management strategies and reap the benefits out of it.

scholarly journals Heteroskedasticity in One-Way Error Component Probit Models

Econometrics ◽  
2019 ◽  
Vol 7 (3) ◽  
pp. 35
Author(s):  
Richard Kouamé Moussa
Keyword(s):  
Monte Carlo ◽  
Robustness Analysis ◽  
Probit Model ◽  
Estimation Procedure ◽  
Error Component ◽  
Ratio Test ◽  
Probit Models ◽  
Power Of The Test ◽  
Individual Effects ◽  
High Degree

This paper introduces an estimation procedure for a random effects probit model in presence of heteroskedasticity and a likelihood ratio test for homoskedasticity. The cases where the heteroskedasticity is due to individual effects or idiosyncratic errors or both are analyzed. Monte Carlo simulations show that the test performs well in the case of high degree of heteroskedasticity. Furthermore, the power of the test increases with larger individual and time dimensions. The robustness analysis shows that applying the wrong approach may generate misleading results except for the case where both individual effects and idiosyncratic errors are modelled as heteroskedastic.

Financial Services Input as a Source of Economic Growth in the European Union Countries

2016 ◽  
Vol 63 (3) ◽  
pp. 289-308
Author(s):  
Joanna Wyszkowska-Kuna
Keyword(s):  
Economic Growth ◽  
European Union ◽  
Financial Services ◽  
The European Union ◽  
Business Services ◽  
Intermediate Inputs ◽  
European Union Countries ◽  
Production Growth ◽  
Knowledge Intensive ◽  
Factor Inputs

The aim of this paper is to study and compare the importance of intermediate demand for financial services for the growth of production in the European Union countries. In the study the methodology introduced by Jorgenson et al. (1987) is used. This assumes that changes in the production (in real terms) result from changes in intermediate inputs of raw and manufacturing materials and services, as well as in factor inputs (labour and capital) and in total factor productivity. The advantage of this method is the ability to calculate the contributions of different components of intermediate inputs (including service inputs – total or with respect to particular service categories) to production growth in the whole economy and in individual industries. The study is carried out with respect to financial services, but their contribution to economic growth is compared with the contribution of knowledge--intensive business services that have been already recognized as affecting economic and productivity growth. The data used in the study come from the World Input-Output Database. The analysed period covers the years 1995–2009, owing to the availability of relevant data.

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