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Firms’ Behavior, Productivity and Economics of Innovation
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Firms’ Behavior, Productivity and Economics of Innovation

A special issue of Journal of Risk and Financial Management (ISSN 1911-8074). This special issue belongs to the section "Economics and Finance".

Deadline for manuscript submissions: closed (31 December 2022) | Viewed by 11220

Special Issue Editor

Prof. Dr. Zhanna Mingaleva

E-Mail Website
Guest Editor
Department of Economics and Management in Industrial Production, Research Center for Sustainable Development and Innovation Processes, Perm National Research Polytechnic University, 614990 Perm, Russia
Interests: innovation management; sustainable development; green economy; digitization
Special Issues, Collections and Topics in MDPI journals

Special Issue Information

Dear Colleagues,

This Special Issue focuses on the broad topic of “Firms’ Behavior, Productivity, and Economics of Innovation” and includes research methods and techniques for modeling economic behavior, business modeling in general, evaluating the innovation process, productivity forecasts, and assessing the impact of risk on economic behavior and innovation.

The goal of this Special Issue is to promote new ideas, conceptual approaches, models, methods, as well as new quantitative tools in behavioral economics, in financial economics, in innovation management, in the development of business models, and in economic and financial modeling in general. Any new approaches that complement, expand on, and clarify existing concepts and points of view in the framework of quantitative and conceptual analysis are encouraged.

Researchers and practitioners working on new ideas, models, and methods, as well as who can provide empirical reviews and research on the above topics, are invited to submit their papers to this Special Issue.

Prof. Dr. Zhanna Mingaleva
Guest Editor

Manuscript Submission Information

Manuscripts should be submitted online at www.mdpi.com by registering and logging in to this website. Once you are registered, click here to go to the submission form. Manuscripts can be submitted until the deadline. All submissions that pass pre-check are peer-reviewed. Accepted papers will be published continuously in the journal (as soon as accepted) and will be listed together on the special issue website. Research articles, review articles as well as short communications are invited. For planned papers, a title and short abstract (about 100 words) can be sent to the Editorial Office for announcement on this website.

Submitted manuscripts should not have been published previously, nor be under consideration for publication elsewhere (except conference proceedings papers). All manuscripts are thoroughly refereed through a single-blind peer-review process. A guide for authors and other relevant information for submission of manuscripts is available on the Instructions for Authors page. Journal of Risk and Financial Management is an international peer-reviewed open access monthly journal published by MDPI.

Please visit the Instructions for Authors page before submitting a manuscript. The Article Processing Charge (APC) for publication in this open access journal is 1400 CHF (Swiss Francs). Submitted papers should be well formatted and use good English. Authors may use MDPI's English editing service prior to publication or during author revisions.

Keywords

  • firms’ behavior
  • business model
  • productivity
  • smart manufacturing
  • innovation
  • economic modeling
  • forecasts
  • sustainable development
  • risks
  • competition
  • industry 5.0
  • circular economy

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Published Papers (5 papers)

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Research

19 pages, 373 KiB  
Article
Russian Companies’ Motivations for Making Green Investments
by Liudmila S. Kabir and Ivan D. Rakov
J. Risk Financial Manag. 2023, 16(3), 145; https://doi.org/10.3390/jrfm16030145 - 22 Feb 2023
Cited by 1 | Viewed by 2205
Abstract
The purpose of this study is to identify the most significant motivations for Russian companies to make green investments. This article presents a multiple regression model based on panel data, designed to assess the impact of various factors on green investments made by [...] Read more.
The purpose of this study is to identify the most significant motivations for Russian companies to make green investments. This article presents a multiple regression model based on panel data, designed to assess the impact of various factors on green investments made by Russian companies. To create this model, the authors used annual data for 83 regions of the Russian Federation for the period from 2011 to 2020. According to calculations made in this paper, the growth of green investments in the economy is due to the inflow of foreign direct investment, the increase in the collection of fees for negative impact on the environment, the increase in the production of extractive products and the growth of CO2 emissions. At the same time, the total volume of investments is not affected by indicators assessing the environmental factor, but is affected by the inflow of foreign direct investments and the level of business concentration. The obtained results mean that the main motivators that encourage Russian companies to make green investments today are the opinion of foreign investors, global decisions to reduce greenhouse gases and the partial tightening of national environmental legislation. This indicates that the degree of a companies’ integration into the global economy is of great importance for its propensity to make green investments in Russia. Therefore, special approaches are needed from the state in order to create incentives for green modernization of the national economy. This study expands our understanding of the role that green investments can play in the economy and the motivation for companies to make them, thus contributing to the existing literature on this subject. Full article
(This article belongs to the Special Issue Firms’ Behavior, Productivity and Economics of Innovation)
17 pages, 1355 KiB  
Article
Development of Approaches and Organizational Models for the Mass Implementation of Information Modeling Technologies in the Investment and Construction Sphere
by Anatoly Platonov, Viola Larionova and Yury Davy
J. Risk Financial Manag. 2023, 16(2), 118; https://doi.org/10.3390/jrfm16020118 - 12 Feb 2023
Cited by 4 | Viewed by 3487
Abstract
The rapidly increasing use of building information modeling (BIM) technologies in the world is highly relevant to the search for new approaches and managerial models for enterprises in the construction sphere. As shown in the study of several developing countries, there is a [...] Read more.
The rapidly increasing use of building information modeling (BIM) technologies in the world is highly relevant to the search for new approaches and managerial models for enterprises in the construction sphere. As shown in the study of several developing countries, there is a certain lag in this area compared with highly industrialized countries. A comparative analysis of countries in terms of the level of spread of BIM technologies was made using open data from job search Internet sites. In this regard, the urgency of the research is due to the need to develop appropriate approaches to intensify the implementation of BIM technologies in the construction and operation of buildings. The purpose of the study is the development of methodological foundations and applied models of functional interaction between participants of construction projects based on BIM. As a working hypothesis, the authors assume that the mass application of BIM technologies is possible in providing a set of measures of different nature: market, non-market, legal, economic, and organizational. The main results of the study provided a solution to the problem of a significant expansion of the scope of BIM technologies in the construction sector through the formation of an information eco-environment for interaction of participants in the project management system. Full article
(This article belongs to the Special Issue Firms’ Behavior, Productivity and Economics of Innovation)
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19 pages, 2901 KiB  
Article
Agent-Based Modeling of Construction Firms’ Organizational Behavior in Public Tenders
by Valeriya Gladkikh and Aleksandr Alekseev
J. Risk Financial Manag. 2023, 16(2), 105; https://doi.org/10.3390/jrfm16020105 - 9 Feb 2023
Viewed by 1736
Abstract
A key problem of construction firms’ management and economy is organization of effective participation in public tenders. The direct executor, who determines the price of the contract, may be interested in obtaining as many contracts as possible. It means that his strategic behavior [...] Read more.
A key problem of construction firms’ management and economy is organization of effective participation in public tenders. The direct executor, who determines the price of the contract, may be interested in obtaining as many contracts as possible. It means that his strategic behavior in tender may be to undervalue each individual offer. At the same time, such a strategy can be a source of risk of project loss because the actual costs may be lower than the price of the contract won. The management of the construction organization is not interested in this. On the other hand, overpricing strategy may lead to a reduction in the number of contracts won, which may not seem effective either for the head or for the executor of such an organization. The article discusses whether the profits of a construction firm can increase by using a more precise method of calculating the estimated cost. The second question is—which staff of a construction firm will benefit from using such methods? The aim of this work is to test these hypotheses with the instrumentality of agent-based modeling. Profit values of construction firms were obtained by the computer simulation of the construction firms’ strategic behavior in public tenders. Results of 1500 computer experiments are presented as a decision tree. It can be seen that when using a more precise method, construction firms win tenders almost two times less often. However, they incur losses many times less than with an inaccurate method. If a construction firm made a profit from the contracts won, the profit margin was almost always greater when using the more precise method. Moreover, the results of game-theoretic modeling are given. Values of the objective functions of the executor and head of the construction firm were obtained, taking into account the reward for contracts won and penalty for miscalculating the cost of work. It has been proved that using more precise methods for calculating the estimated cost is beneficial to both the head and the executor. It can be concluded that both hypotheses were confirmed and a precise method for calculating the cost increases the efficiency of a construction firm. Full article
(This article belongs to the Special Issue Firms’ Behavior, Productivity and Economics of Innovation)
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9 pages, 243 KiB  
Article
Factors Affecting R&D Share in University Revenues: Case of Russia
by Dmitry Gladyrev
J. Risk Financial Manag. 2023, 16(2), 80; https://doi.org/10.3390/jrfm16020080 - 28 Jan 2023
Cited by 1 | Viewed by 1380
Abstract
Recent government projects and initiatives (such as Priority 2030) have significantly increased the role of universities in creating and commercializing innovations in Russia. One of the most important indicators of university performance in these programs is R&D revenue. Its values have a significant [...] Read more.
Recent government projects and initiatives (such as Priority 2030) have significantly increased the role of universities in creating and commercializing innovations in Russia. One of the most important indicators of university performance in these programs is R&D revenue. Its values have a significant deviation between universities that lead to different importance of R&D activities and make some universities more R&D oriented than others in the terms of their economics. This orientation can be considered an important factor of university sustainability as it allows it to be less dependent on admission volume which varies due to demographic waves and other endogenous factors. This paper studies the factors affecting the R&D orientation of big Russian universities. Monitoring the Efficiency of Higher Education Institutions provides sufficient data on Russian universities for such study including the share of R&D revenue in the total value of revenue which is used as a measure of R&D orientation. This study analyses the factors affecting this indicator using the data from the 49 largest Russian universities between 2015 and 2020 to build econometric panel data models. The modelling proves the significance of various factors such as entrance scores of students, the number of publications per faculty member, the share of young researchers, the ratio of average salary to the regional average salary, and the share of faculty members holding doctoral degrees. The research highlights the connection between publication performance and R&D activities and the importance of supporting young researchers in the development of scientific entrepreneurship. Full article
(This article belongs to the Special Issue Firms’ Behavior, Productivity and Economics of Innovation)
15 pages, 291 KiB  
Article
Is Earnings Management Related to Labor Productivity Gap? Evidence from the USA
by Rafiqul Bhuyan and Fuad Hasan
J. Risk Financial Manag. 2022, 15(8), 323; https://doi.org/10.3390/jrfm15080323 - 22 Jul 2022
Viewed by 1629
Abstract
Using a standard partial adjustment model and US firms, we study the relationship between managers’ failure to achieve target labor productivity and their tendency to manage earnings. To overcome the endogeneity problem, we employ an instrumental variable technique based on negative investment growth [...] Read more.
Using a standard partial adjustment model and US firms, we study the relationship between managers’ failure to achieve target labor productivity and their tendency to manage earnings. To overcome the endogeneity problem, we employ an instrumental variable technique based on negative investment growth and find that managers, experiencing a labor productivity gap, tend to manage earnings by manipulating discretionary accruals and real operating activities. Additional analysis suggests that elements of personal value maximization biases drive the estimated effect of the labor productivity gap. Our results are robust considering variation and alternative measures of statistical sensitivity. The positive association between the labor productivity gap and earnings management is also consistent with the opportunistic financial reporting hypothesis and impression management theory. Full article
(This article belongs to the Special Issue Firms’ Behavior, Productivity and Economics of Innovation)
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