• International Journal of Computer Science & Network Security
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• v.21 no.8
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• pp.43-50
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• 2021

For the implementation of innovative products or services companies use different innovation strategies, in particular, outsourcing is quite widespread, given the high level of specialization and professionalism of companies that provide such services. The aim of this article was to evaluate the link between outsourcing of innovative activities and indicators of companies' efficiency. The methodology of the research includes the methods of correlation analysis and regression analysis to reveal the correlation between the use of outsourcing of innovative products and services and the turnover of the EU enterprises. The results show a high level of innovative activity of EU enterprises (50.3% innovatively active). Innovative business processes are the most widespread form of innovation activity (41% of enterprises implement business processes, and the indicator is higher than 41% in the most developed EU countries). The turnover of enterprises with new or substantially improved products was found to grow by 10.92% for the period 2016-2018. The correlation analysis shows weak direct links between the indicator of turnover growth and the number of enterprises that have independently implemented innovations, or have implemented innovations jointly with third-party companies, or using outsourcing services. The highest level of direct connection was found between the growth of turnover of enterprises that launched a new product for the market and the growth of the number of enterprises that implemented innovations with the involvement of organizations (correlation 0.273). Based on the regression analysis it was found that with a 1% change in the growth rate of the number of innovation-active enterprises, the growth rate of turnover from new or improved products increased by 5.67%. At the same time, with a 1% change in the growth rate of the number of enterprises that implement innovation through outsourcing, the growth rate of turnover from new or improved products will increase by 7.15%.

• The Korean Journal of Franchise Management
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• v.12 no.4
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• pp.1-11
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• 2021

Purpose: The franchise system started by Singer Sewing Machine in the US is acting as a national economic growth engine in terms of job creation and economic growth. In China, the franchise system was introduced in the mid-1980s. And since joining the WTO, it has grown by 5-6% every year. However, compared to the growth rate of franchises, studies on shared growth between the chain headquarters and franchisees were insufficient. Accordingly, recent studies related to shared growth between the chain headquarters and franchisees have been active in China. The purpose of this study is to examine the knowledge transfer system between the knowledge creation, knowledge sharing, and the use of knowledge by franchise chain headquarters in China. In addition, the relationship between franchise satisfaction and performance is identified. Research design, data, and methodology: The data were collected from franchise stores in Sichuan, China, and were conducted with the help of ○○ Incubation, a Sichuan Province-certified incubator. From November 2020 to January 2021, 350 copies of the questionnaire were distributed in China, and 264 copies were returned. Of these, 44 copies with insincere answers and response errors were excluded, and 222 copies were used for analysis. The data were analyzed with SPSS 22.0 and AMOS 22.0 statistical packages. Result: The results of this study are as follows. First, knowledge creation has been shown to have a statistically significant impact on knowledge sharing and knowledge utilization. In particular, the effectiveness of knowledge creation was higher in knowledge sharing than in knowledge utilization. And we can see that knowledge sharing also has a statistically significant e ffect on knowledge utilization. Second, knowledge sharing was not significant for transaction satisfaction and business performance, and knowledge utilization was significant for transaction satisfaction and business performance. These results can be said to mean less interdependence of the Chinese franchise system. Finally, transaction satisfaction was statistically significant to business performance. The purpose of this study was to examine the importance of knowledge management to secure long-term competitive advantage for Chinese franchises. This study shows that knowledge sharing is important for long-term franchise growth. And we can see that there is a lack of knowledge sharing methods in the case of franchises in China. I n addition, it was found that the growth of Chinese franchises requires systematization of communication, information sharing measures and timing, help from chain headquarters, and mutual responsibility awareness.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.12
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• pp.33-42
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• 2020

The neoclassical economic supporters have suggested that foreign direct investment and raw material (e.g., coal, electricity, gas, and oil) are critical economic growth inputs. Few previous studies have analyzed the relationship between foreign direct investment and energy consumption on economic growth. However, existing studies usually have applied the frequentist inference. The limitation of the frequentist inference is that, if the coefficient of the independent variable is not yet significant, then conclusions might be unreliable. By applying the Bayesian approach, the main aim of this study is to revisit the impact of foreign direct investment, electricity consumption, and urbanization on economic growth in six ASEAN countries from 1980 to 2016. The obtained outcome shows that the impact of electricity consumption is evident and positive on economic growth in both frequentist and Bayesian inferences. However, the influence of foreign direct investment is not identified by frequentist inference, while Bayesian inference provides evidence that foreign direct investment is a moderately positive impact on economic growth. The empirical result from Bayesian inference contributes to the literature on foreign direct investment modeling and could be of significant importance for a more efficient foreign direct investment attracting and achieve sustainability in the long-term.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.12
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• pp.677-682
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• 2020

To investigate the nexus between urban population, gross capital formation, and economic growth in the Kingdom of Saudi Arabia, yearly data was collected from the World Bank for the period 1974- 2018. Basic statistics test and correlation matrix was used to investigate the causal effect among the tested parameters, followed by Augmented Dickey-Fuller (ADF) stationary test, co-integration analysis by Johansen test after that Vector Auto-Correction Model for both short-run and long-run and finally the Granger-Causality tests. Result of unit root test analysis shows that the urban population became stationary at I (0) level while economic growth and gross capital formation became stationary at I (1). Johansen co-integration analysis indicates that there is presence of both long-run and short-run relationship between the three variables in the Kingdom of Saudi Arabia. The result of the VECM Model reflects that both economic growth and gross capital formation have a negative impact on urban population in the short run. According to the Granger-Causality tests, there is unidirectional causality with the urban population by both gross capital formation and economic growth. Also, the result of the Granger Causality tests show that there is unidirectional causality between economic growth and gross capital formations.

• Knowledge Management Research
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• v.20 no.2
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• pp.197-216
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• 2019

The Korean government has been focusing on supporting technology startups to solve social and economic problems such as low growth, declining economic growth rate, rising youth unemployment rate and lack of new growth engine. Although the failure rate of young technology startups is very high, relevant researches are still scant. On the basis of previous researches, this study has identified four growth factors of technology startups: characteristics of entrepreneurs, technical superiority and originality of business items, focused marketing strategy, and follow-up government support projects. Five young technology startup cases were selected and analyzed in the cosmetics industry which were supported by the Six-month Challenge Platform project of Chungbuk Creation Economic Innovation Center. The main findings of the case study were as follows: First, product development through inhouse R&D rather than external contracted R&D was beneficial to acquiring follow-up government support projects and external investment. Second, choosing a small niche market and concentrating marketing efforts on the target market had a positive effect on firm performance. And, third, relevance of entrepreneurs' college major and technological originality of business items were confirmed to influence firm performance positively in the early stage. The results are expected to help young technology startups survive successfully and establish a foothold for growth in their early stage.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.3
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• pp.165-170
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• 2021

This paper examines the long-run relationship between financial development and economic growth. The effective function of financial development is crucial to promote the economic development of the country. To achieve the objective, this study used Gross Domestic Product as a dependent variable and Credit to The Private Sector, Ratio of the Gross Fixed Capital Formation to GDP, Trade, Consumer Price Index and Labour Force as an independent variable. Augmented Dickey-Fuller test statistic (ADF) to check the stationary. Bounds test for cointegration and Auto-Regressive Distributed Lag Models (ARDL) are used to check cointegrating relationship amongst the variables and causality between financial development and economic growth. Moreover, the Model selection method is Akaike Info Criterion (AIC). This result demonstrates that the labor force and trade hold a significantly negative relationship with economic growth. Nevertheless, inflation, Credit to The Private Sector, and Ratio of the Gross Fixed Capital Formation to GDP show a significantly positive relationship with economic growth. Therefore, there is a statistically significant relationship between Financial Development and Economic growth in Sri Lanka and the Sri Lankan government should reform its trade policies.

• The Journal of Asian Finance, Economics and Business
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• v.9 no.2
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• pp.295-303
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• 2022

Information and communication technology (ICT) is one of the primary zones that stimulates economic development in today's globalized world. It promotes technological developments in worldwide communication and manufacturing systems, as well as economic growth and development. Many economic activities, such as international trade and foreign direct investment, rely heavily on contemporary information and communications technologies (FDI). The goal of this study is to look at the dynamic relationship between FDI, ICT, trade openness, and economic growth in the context of BRICS countries from 2000 to 2018, with Gross Domestic Product as the dependent variable and Telephone subscriptions, Mobile subscriptions, Broadband subscriptions, Internet subscribers, Secure internet servers, Trade, and Foreign direct investment as the independent variables.Two variables are used as proxies to manage the macroeconomic environment, while five variables are used as proxies for ICT infrastructures. The outcomes of this study are analyzed using Generalized Methods of Movements (GMM). According to this study, ICT has a positive impact on the economic growth of a few countries. Trade openness and foreign direct investment, on the other hand, have a negative impact on economic growth. As growing countries, the BRICS must participate in economic reform and liberalization measures. This report suggests policy proposals for improving ICT standards, focusing especially on economic growth, trade openness, and increasing foreign investment in the BRICS countries.

• The Journal of Asian Finance, Economics and Business
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• v.10 no.2
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• pp.213-222
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• 2023

This paper mainly studies the relationship between financial development, inbound tourism development, and economic growth rate in Fujian Province, China. This study uses the data of real GDP, foreign exchange income from international tourism, and financial interrelations ratio from 1994 to 2019. In the analysis process, the Johansen cointegration test is first used to analyze whether the three have a long-term equilibrium relationship. Then the vector error correction model is established to test the restrictive relationship among the three. Next, the Granger causality test assesses whether the three have a causal relationship. Finally, the contribution rate of the three is analyzed by variance decomposition. The above methods show the following conclusions: first, the three have a long-term equilibrium relationship. Secondly, in the short term, local economic growth is constrained by inbound tourism and financial development. Thirdly, there is a causal relationship between economic growth and inbound tourism in Fujian, while there is a unidirectional causal relationship between financial development and economic growth, financial development, and inbound tourism. Fourthly, the contribution rate of inbound tourism to economic growth fluctuations in Fujian is higher than that of financial development.

• Journal of Distribution Science
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• v.21 no.1
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• pp.23-31
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• 2023

Purpose: this study is aimed at assessing the contribution of education and innovation to the economic growth of Kazakhstan, the correlation between them is checked based on two levels on a national scale and a regional scale. Based on the literature review, it was revealed that in the vastness of the scientific community, there are many views concerning the influence of educational and innovative factors on economic growth. Research design, data and methodology: the research methodology is divided into two levels, at the first level, a correlation analysis is carried out between key factors and the economic growth of the country (GDP), at the second level, the same factors are analyzed, but the impact on the economic growth of the region (GRP) is estimated. Statistical data on educational and innovation potential is taken from the Bureau of National Statistics for the period 2003-2021. Results: in this study, it was revealed that the economic development of regions could be influenced by such indicators that cannot affect the entire state in aggregate and vice versa. In addition, the correlation analysis results showed that investments in innovations affect economic growth at the country and the regional level. Conclusions: based on the results of the assessment of educational and innovative potential, policy recommendations and further research in this area were proposed.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.15 no.5
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• pp.37-50
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• 2020

This study aims to investigate meaningful relationship between technology appraisal indices and SMEs' financial performances for their continuous growth. The empirical data for this study were based on the technology appraisal results of Korea Technology Finance Corporation(KOTEC) and the financial data of the following 2 years 0f 3,688 SMEs. The meaningful differences between SMEs with superb financial performances and the others, by using t-test analysis, statistically were verified in 25 indices(75.8%) out of total 33 indices. All of five independent variables, namely CEO's capability, technology manpower, R&D intensiveness, market competitiveness and investment feasibility, were verified to have a positive effect on business feasibility respectively and business feasibility also has a positive influence on financial performance, such as sales growth, labor productivity and financial stability.