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A special issue of Sustainability (ISSN 2071-1050). This special issue belongs to the section "Economic and Business Aspects of Sustainability".

Deadline for manuscript submissions: closed (31 December 2022) | Viewed by 24501

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Special Issue Editors

Prof. Dr. Kefan Xie

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Guest Editor

School of Management, Wuhan University of Technology, Wuhan 430070, China
Interests: entrepreneurial management; innovation management; risk management

Dr. Bert Sadowski

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Guest Editor

School of Innovation Sciences,Technische Universiteit Eindhoven, 5612AZ Eindhoven, The Netherlands
Interests: entrepreneurship; innovation economics; risk analysis

Prof. Dr. Xuejun Wang

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Guest Editor

Economics and Management School, Wuhan University, Wuhan 430072, China
Interests: technology transfer; technological entreprenuership; low-carbon economy

Prof. Dr. Huatao Peng

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Guest Editor

School of Management, Wuhan University of Technology, Wuhan 430070, China
Interests: entrepreneurial management; innovation risk management; entrepreneurship and innovation policies
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Special Issue Information

Dear Colleagues,

Entrepreneurship is a key driving force of industry transformation and economic development, as well as an important form of self-employment. Nevertheless, entrepreneurship is a high-risk endeavor due to its inherent uncertainties and the susceptibility of entrepreneurial projects to failure; therefore, risk management is indispensable in entrepreneurship undertakings. Recently, sustainable entrepreneurship has been advocated by both scholars and practitioners, with an emphasis on green and low-carbon entrepreneurship practices, responsible entrepreneurship, high-quality entrepreneurship and serial entrepreneurship. With regard to sustainable entrepreneurship, more attention must be given to the interaction between value chain and risk chain and to the enhancement of risk management by employing advanced information technologies such as big data, intelligent early warning and system simulation.

The objective of this Special Issue is to systematically publish a series of state-of-the-art research achievements in sustainable entrepreneurship and risk management.

This Special Issue welcomes contributions on the following subjects:

Theory and cases of sustainable entrepreneurship;
Risk evaluation and prevention in low-carbon entrepreneurship;
Entrepreneurial failure and serial entrepreneurship;
Entrepreneurial financing risk control;
Risk compensation policies for entrepreneurship and innovation;
Social responsibility and risk governance of entrepreneurial platform;
Intelligent monitoring and early warning of entrepreneurial risk;
Innovation risk management for environment related projects;
Other relevant themes.

Prof. Dr. Kefan Xie
Dr. Bert Sadowski
Prof. Dr. Xuejun Wang
Prof. Dr. Huatao Peng
Guest Editors

Manuscript Submission Information

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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. Sustainability is an international peer-reviewed open access semimonthly journal published by MDPI.

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Keywords

sustainable entrepreneurship
entrepreneurial risk management
innovation risk management

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Published Papers (10 papers)

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15 pages, 2857 KiB

Open AccessArticle

Evolutionary Path and Sustainable Optimization of an Innovation Ecosystem for a High-Tech Enterprise Based on Empirical Evidence from Hubei Province

by Aijun Liu, Lu Cai and Fan Chen

Sustainability 2023, 15(1), 770; https://doi.org/10.3390/su15010770 - 31 Dec 2022

Cited by 2 | Viewed by 1808

Abstract

This study focuses on the evolutionary path and sustainable optimization of an innovation ecosystem for a high-tech enterprise. To analyze the formation and structure of such an ecosystem, this study applies the Lotka–Volterra model to argue that cooperative symbiosis is an effective path for system evolution. It establishes a system dynamics model to analyze the system feedback mechanism and takes the development of an innovation ecosystem for a high-tech enterprise in Hubei Province as an example to discuss the dynamic factors that affect the system’s evolution and to design the sustainable optimization path of the system. The empirical results show that the system’s innovation input can only promote the positive effects of system evolution to a certain extent, and that regulatory elements such as policies and infrastructure can impact governance effectiveness and promote system optimization and sustainable development. Full article

(This article belongs to the Special Issue Sustainable Entrepreneurship and Risk Management)

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15 pages, 870 KiB

Open AccessArticle

How Does Internet Use Promote Farmer Entrepreneurship: Evidence from Rural China

by Zimei Liu, Yezhi Ren and Yanlan Mei

Sustainability 2022, 14(24), 16915; https://doi.org/10.3390/su142416915 - 16 Dec 2022

Cited by 10 | Viewed by 2299

Abstract

Entrepreneurship and innovation are important driving forces for economic sustainable development. Despite the rapid popularity of the Internet in rural areas, whether—and if so, how—the Internet use may affect farmer entrepreneurship remains a key research gap. This paper studies the impact of the use of the Internet on farmer entrepreneurship and its mechanism by using Probit model, the Karlson–Holm–Breen (KHB) method and China Family Panel Studies (CFPS) dataset from 2014 to 2018. It is found that: (1) Use of the Internet has a positive impact on farmer entrepreneurship, and this result remains robust after addressing endogeneity. (2) Necessity entrepreneurship is more likely to be affected by use of the Internet than opportunity entrepreneurship. (3) Use of the Internet can significantly influence necessity entrepreneurship by affecting farmers’ risk attitude, social capital and information acquisition, while opportunity entrepreneurship is not affected by these mediating effects. (4) Among three mediating effects, the effect of social capital accounts for the largest contribution to the impact of the use of the Internet on farmer entrepreneurship. Our empirical findings could provide theoretical references for policies or reforms intended to promote entrepreneurship in rural regions. Full article

(This article belongs to the Special Issue Sustainable Entrepreneurship and Risk Management)

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21 pages, 949 KiB

Open AccessArticle

Analysis of Critical Factors for the Entrepreneurship in Industries of the Future Based on DEMATEL-ISM Approach

by Yun Chen, Rui Zhou and Yuan Zhou

Sustainability 2022, 14(24), 16812; https://doi.org/10.3390/su142416812 - 14 Dec 2022

Cited by 8 | Viewed by 2681

Abstract

In the face of the fourth industrial revolution (Industry 4.0 era), in order to cope with the various crises that may come, countries around the world are accelerating the research and development of cutting-edge technologies and promoting and deploying the Industries of the Future in order to seize the high ground in the new round of strategic competition in science and technology. Therefore, entrepreneurship in Industries of the Future has become an urgent problem for governments and enterprises to solve. Entrepreneurship in Industries of the Future is a systematic project with uncertainties, which is dynamically influenced by many factors and has different levels of division among them. Inspired by the form of Porter’s diamond model, this paper constructs a diamond model of the driving mechanism of entrepreneurship in Industries of the Future. Using the DEMATEL-ISM analysis method, each critical factor and influence mechanism of entrepreneurship in Industries of the Future is explored, and a multi-level structural model is established. The study found eight critical factors affecting entrepreneurship in Industries of the Future, among which technology, creation, need, and aspiration are the critical factors, and relevant enterprises and governments should prioritize these influencing factors and deal with them. Full article

(This article belongs to the Special Issue Sustainable Entrepreneurship and Risk Management)

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22 pages, 1482 KiB

Open AccessArticle

Green Supply Chain Decision and Management under Manufacturer’s Fairness Concern and Risk Aversion

by Kai Cao and Yanlan Mei

Sustainability 2022, 14(23), 16006; https://doi.org/10.3390/su142316006 - 30 Nov 2022

Cited by 3 | Viewed by 2108

Abstract

This study focuses on the impact of a supply chain manufacturer’s fairness concern and risk aversion on the green supply chain and constructs a two-level green supply chain consisting of a manufacturer and a retailer. It compares three models: the manufacturer is a risk-neutral and fair-neutral, the manufacturer is a risk-averse and fair-neutral, and the manufacturer is a risk-averse and fair-concerned decision maker. In three cases, this paper examines how the manufacturer’s risk aversion and fairness concerns the impact product green level, retail price, and the wholesale price in the green supply chain. Consumers are sensitive to pricing strategies and product green level. The results are as follows: the manufacturer’s risk aversion leads to an increase in the retailer’s profit, and the manufacturer’s profit decreases with the increase in the risk aversion coefficient. Second, when demand meets certain conditions and the manufacturer has advantageous fairness concerns, the manufacturer benefits from fairness concerns, the retailer’s profit decreases with the manufacturer’s fairness concerns coefficient, and the manufacturer’s risk aversion will lead to a decline in the product green level. Third, when the manufacturer believes that the risk is relatively large, they reduce the technology investment of green products; thus, the fairness concerns of the manufacturer will affect the investment of green products and increase the green level of products. For enterprises: When supply chain members face various risks, they need to consider the specific needs of consumers and other members’ behavioral preferences. They can put forward a more scientific prediction of market demand and rational decision making. For customers: they should not only pay attention to changes in market prices, but should also pay attention to changes in the behavioral preferences of supply chain members, as customers are in line with their own interests based on the choice of high-quality green production. Full article

(This article belongs to the Special Issue Sustainable Entrepreneurship and Risk Management)

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23 pages, 1733 KiB

Open AccessArticle

How Risk Prevention Mechanisms Regulate Serial Entrepreneurs to Achieve Sustainable Entrepreneurship—A Policy Text Analysis

by Chen Zhou, Huatao Peng and Bingbing Li

Sustainability 2022, 14(21), 13904; https://doi.org/10.3390/su142113904 - 26 Oct 2022

Viewed by 1825

Abstract

With the advent of the “Industry 4.0” era, the outbreak of the new epidemic, and the frequent occurrence of economic crises, sustainable entrepreneurship has led to the entrepreneurial ambition of serial entrepreneurs. Although a large number of supportive policies have been recently enacted by administrations at all levels to promote sustainable entrepreneurship among serial entrepreneurs, there is a lack of policy evaluation. In addition, although academics recognize the importance of policy regulation in leading sustainable entrepreneurship, in-depth research on the entrepreneurship policy system is still lacking. Based on this, this paper applied the “policy instrument–policy target” analysis framework and selected Chinese policy texts that support the sustainable entrepreneurship of serial entrepreneurs for textual content analysis. The results of this paper suggest that the synergy of various policy instruments and the appropriateness of the policy instrument–target fit need to be improved. The findings of this paper can provide a theoretical basis and practical implications for governmental entities to guide serial entrepreneurs to prevent social, economic, and environmental risks and achieve sustainable entrepreneurship goals. Full article

(This article belongs to the Special Issue Sustainable Entrepreneurship and Risk Management)

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23 pages, 3109 KiB

Open AccessArticle

Digital Transformation Evaluation for Small- and Medium-Sized Manufacturing Enterprises Using the Fuzzy Synthetic Method DEMATEL-ANP

by Qingmei Chen, Wei Zhang, Nanshun Jin, Xiaocheng Wang and Peiru Dai

Sustainability 2022, 14(20), 13038; https://doi.org/10.3390/su142013038 - 12 Oct 2022

Cited by 19 | Viewed by 4456

Abstract

In view of the characteristics of small- and medium-sized manufacturing enterprises and the status quo of digitalization, it is necessary to develop a more applicable digital transformation maturity model. The decision testing and evaluation laboratory method (DEMATEL) is used to provide the visual impact relationship between digital transformation criteria, and combined with the network analytic hierarchy process (ANP) to determine the mixed weight of indicators, and then fuzzy comprehensive evaluation is used to evaluate the digital maturity of small- and medium-sized manufacturing enterprises. The empirical analysis of small- and medium-sized manufacturing enterprises in Guangdong Province shows that digital strategy and information technology play a key role in the digital transformation of enterprises, and digital process and digital innovation are the main problems faced by small- and medium-sized enterprises. In addition, the digital maturity of enterprises is related to the industrial base, regional policies, industry types, etc. This study provides some guidance for the implementation path selection of small- and medium-sized enterprises’ digital transformation and accelerates the digital transformation and sustainable development of small- and medium-sized manufacturing enterprises. Full article

(This article belongs to the Special Issue Sustainable Entrepreneurship and Risk Management)

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17 pages, 514 KiB

Open AccessArticle

Research on the Impact of Ambidextrous Innovation on Sustainable Entrepreneurial Performance from a Policy-Oriented Perspective

by Tao Zhu and Huatao Peng

Sustainability 2022, 14(18), 11247; https://doi.org/10.3390/su141811247 - 8 Sep 2022

Cited by 3 | Viewed by 1850

Abstract

Based on the theory of dynamic capability theory, this study takes 671 listed companies in China’s ICT industry from 2010 to 2021 as a sample to explore the impact mechanism of policy-oriented ambidextrous innovation on sustainable entrepreneurial performance. The study found that exploratory innovation can promote sustainable entrepreneurial performance, but both government subsidy and environmental tax will weaken the relationship between exploratory innovation and sustainable entrepreneurial performance. Exploitative innovation can promote sustainable entrepreneurial performance, but environmental tax will weaken the relationship between exploitative innovation and sustainable entrepreneurial performance. The main contributions of this study include the following. (1) Unlike previous studies that focus on the impact of ambidextrous innovation on corporate financial performance, this study is forward-looking in pointing out the importance of sustainable entrepreneurial performance, and explores the impact of ambidextrous innovation on sustainable entrepreneurial performance. (2) This study proposes a theoretical framework for government policy analysis, arguing that government policy should not only focus on its support policies (government subsidy), but also on regulatory policies (environmental tax). (3) The conclusions of this study have certain reference significance for enterprises to correctly use government policies, construct appropriate ambidextrous innovation strategies, and improve sustainable entrepreneurial performance. Full article

(This article belongs to the Special Issue Sustainable Entrepreneurship and Risk Management)

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14 pages, 864 KiB

Open AccessArticle

The Efficiency Evolution and Risks of Green Development in the Yangtze River Economic Belt, China

by Yongbo Yu, Zihan Yi and Jiahui Jia

Sustainability 2022, 14(16), 10417; https://doi.org/10.3390/su141610417 - 22 Aug 2022

Cited by 4 | Viewed by 1555

Abstract

The sustainability of economic development is constrained by issues such as the depletion of global resources and environmental deterioration; therefore, assessing the effectiveness of green development is crucial for ensuring both economic and social sustainability. The superefficient, slacks-based measures–data envelopment analysis (SBM-DEA) model and the Malmquist–Luenberger productivity index are used in this study to quantify and analyze the level of green development efficiency of the three major city clusters in the Yangtze River Economic Belt. Using techniques such as the Dagum Gini coefficient and Kernel density estimation, this research study also focuses on the regional disparity distribution, dynamic evolution patterns, and risk factors affecting the green and balanced development of city clusters. The results show that, firstly, the green development efficiency of the city clusters presents an overall fluctuating downward trend, and that the low efficiency of resource utilization due to diseconomies of scale is the main obstacle to its growth. Secondly, super variable density and intra-cluster gap are the primary causes of the risk of green and balanced development. There is insufficient momentum to improve green development efficiency. Given these results, the focus of policy implementation to reduce the risk of green development transformation should be on maximizing the driving force of technological progress, improving resource allocation efficiency, and increasing the level of synergistic development within cities. Full article

(This article belongs to the Special Issue Sustainable Entrepreneurship and Risk Management)

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22 pages, 3863 KiB

Open AccessArticle

Spillover Effect of the Interaction between Fintech and the Real Economy Based on Tail Risk Dependent Structure Analysis

by Zhikai Peng and Jinchuan Ke

Sustainability 2022, 14(13), 7818; https://doi.org/10.3390/su14137818 - 27 Jun 2022

Cited by 6 | Viewed by 2250

Abstract

Fintech innovation has greatly improved the operation efficiency of the financial industry and promoted the sustainable development of the real economy. On the other hand, fintech also brings the problem of risk spillover. Through a time series analysis, vector auto-regression with the Granger causality test is conducted to analyze the interaction between fintech and the real economy. To deal with the nonlinear relationship and overcome the high-dimensional-dependent structure faced by Copula, this paper establishes a GARCH–Vine–Copula model to study the tail risk and dynamic dependency between fintech and industries of the real economy in China, and then analyzes the risk spillover by calculating the CoVaR. The results show that there is a positive dynamic correlation between fintech and the real economy, and this increases when facing risk impact; fintech is located in the leading position of R-vine-dependent structure, and has a high correlation coefficient with the upper and lower tail of various industries. The results of CoVaR show that the extreme risk events in fintech and various industries have different degrees of negative impact on each other; the risk events in fintech have an extreme impact on industry in a short time. Full article

(This article belongs to the Special Issue Sustainable Entrepreneurship and Risk Management)

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22 pages, 1082 KiB

Open AccessHypothesis

The Effect of Mutual Help Behavior on Employee Creativity—Based on the Recipient’s Perspective

by Mingdan Han, Ran Li, Wenjing Wang, Zehou Sun, Jiaming Zhang and Haokun Han

Sustainability 2022, 14(18), 11182; https://doi.org/10.3390/su141811182 - 7 Sep 2022

Viewed by 1667

Abstract

This paper explores the effect of the recipient’s acceptance of help on his or her personal creativity in mutual aid behavior from the perspective of the recipient and explores the mediating role of learning between the two and the moderating role of the target atmosphere. Through the two research methods of a scenario experiment and questionnaire survey, sample data were collected for screening and analysis, the research hypothesis was verified, and three main research conclusions were drawn. The study suggests that employees’ acceptance of help in work situations is positively correlated with their individual creativity, and that individual learning plays an intermediary role between receiving help and employee creativity. The team-learning, goal-oriented atmosphere and the atmosphere of goal recognition can adjust the relationship between the acceptance of help behavior and individual learning, and the perception of a team-learning, goal-oriented atmosphere plays a positive adjustment role, that is, the higher the team-learning goal orientation level, the greater the impact of employees’ acceptance of help behavior on their own personal learning, and the team proves that the perception of a goal-oriented atmosphere plays a negative adjustment role, that is, the lower the team’s orientation to the goal-oriented level, the greater the impact of employees’ acceptance of help behavior on their own personal learning. This study deepens the study of the relationship between mutual aid behavior and creativity and has a certain guiding significance for managerial practice. Full article

(This article belongs to the Special Issue Sustainable Entrepreneurship and Risk Management)

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