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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 (30 June 2023) | Viewed by 22108

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Special Issue Editors

Prof. Dr. Kittisak Jermsittiparsert

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Guest Editor

Faculty of Education, University of City Island, Gazimagusa 99450, Cyprus
Interests: political science; public and private management; international political economy; social research
Special Issues, Collections and Topics in MDPI journals

Dr. Thanaporn Sriyakul

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Guest Editor

Faculty of Business Administration, Mahanakorn University of Technology, Bangkok 10530, Thailand
Interests: politics; public policy; business research; sustainable development
Special Issues, Collections and Topics in MDPI journals

Dr. Krisada Chienwattanasook

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Guest Editor

Faculty of Business Administration, Rajamangala University of Technology Thanyaburi, Pathum Thani 12120, Thailand
Interests: business research; innovation management; organizational behavior; logistic & supply chain management

Special Issue Information

Dear Colleagues,

Today's business operations are not only aimed at performance, but additionally the sustainability of performance. The sustainability of a business's performance and the factors or conditions that result in it have been a topic of widespread attention by academics all over the world for some time. Of course, it continues to receive considerable attention, even during the COVID-19 pandemic and beyond. Management and innovation are the key conditions that are considered to affect sustainability. However, the unanswered question is whether or not it will continue to be the way it was before COVID-19 has already caused a change in all dimensions. This Special Issue has been created to gather answers from empirical research conducted in countries around the world in order to bring a conclusion to the above questions. Experiences from different countries will show whether management and innovation are still key factors in the sustainability of business performance. If yes, it reminds us of the importance of these two things that entrepreneurs must pay attention to in order to create sustainability for their organization. However, if not, it leads to more interesting questions as to what are the new factors that deserve attention in the next moment?

Prof. Dr. Kittisak Jermsittiparsert
Dr. Thanaporn Sriyakul
Dr. Krisada Chienwattanasook
Guest Editors

Manuscript Submission Information

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Keywords

business performance
sustainability
competitiveness
innovation
management
COVID-19

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Published Papers (7 papers)

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Research

22 pages, 1902 KiB

Open AccessArticle

A Lasso and Ridge-Cox Proportional Hazard Model Analysis of Thai Tourism Businesses’ Resilience and Survival in the COVID-19 Crisis

by Supareuk Tarapituxwong, Namchok Chimprang, Woraphon Yamaka and Piangtawan Polard

Sustainability 2023, 15(18), 13582; https://doi.org/10.3390/su151813582 - 11 Sep 2023

Cited by 1 | Viewed by 1414

Abstract

This study aims to investigate the factors contributing to the survivability of Thai tourism businesses during the COVID-19 pandemic. In December 2021, a comprehensive survey was conducted among 400 tourism businesses across Thailand, coinciding with the heightening impact of the ongoing COVID-19 crisis. The study explores the perceptions of tourism businesses regarding the impact of COVID-19 and its influence on their chances of survival. To address this issue, the study employs the Lasso and Ridge Cox proportional hazards models. The findings reveal several significant factors. Firstly, businesses located in the Southern region, operating without physical premises and generating a substantial annual net income, face a lower risk of failure. Secondly, implementing strategies that prioritize consistent working hours and regular schedules, and reducing reliance on part-time employees, positively contribute to survival chances. Additionally, governments can effectively monitor high-risk businesses based on entrepreneurs’ perception of failure risk and offer targeted assistance. Moreover, businesses targeting domestic tourists and engaging in import and export activities within their supply chains demonstrate higher survivability rates. The availability of raw materials and entrepreneurs’ anticipation of a longer recovery time also play crucial roles in business survival. Government relief measures, such as tax relief and reduced Social Security Fund contributions, effectively increase the probability of business survival. Finally, timely adaptations and support within the initial period of from six months to a year are essential for building resilience in the face of challenges. Full article

(This article belongs to the Special Issue Sustainable Business Competitive Advantage and Business Performance)

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24 pages, 395 KiB

Open AccessArticle

Dynamics of Trade Credit, Bank Credit Extension, Sustainable Economic Growth, and Imports: Evidence from the European Non-Financial Sector

by Cengizhan Karaca

Sustainability 2023, 15(17), 12857; https://doi.org/10.3390/su151712857 - 25 Aug 2023

Viewed by 1324

Abstract

This study investigates the relationship between trade credit and sustainable economic growth, bank credit extension, and imports in the context of 15 European non-financial sectors spanning 2005Q1 to 2019Q2. Furthermore, it attempts to unveil the nonlinear relationship between trade and bank credit extension. To achieve these aims, balanced panel data are constructed and second-generation panel data are used to analyze Panel AMG Estimation, and an improved panel causality test for heterogeneous panels is employed. To enhance the robustness of the study, the results are scrutinized on a country-specific basis. The findings revealed a positive relationship between trade credit and both sustainable economic growth and imports, whereas a negative correlation was found with bank credit extension. These divergent outcomes at the country level were thoroughly discussed. Finally, a bilateral causality is identified between trade credit and economic growth, bank credit extension, and total manufacturing production, whereas a unidirectional causality is found with import activities. Full article

(This article belongs to the Special Issue Sustainable Business Competitive Advantage and Business Performance)

15 pages, 298 KiB

Open AccessArticle

The Effect of a Company’s Sustainable Competitive Advantage on Their Tax Avoidance Strategy—Focusing on Market Competition in Korea

by Yoojin Shin and Jung-Mi Park

Sustainability 2023, 15(10), 7810; https://doi.org/10.3390/su15107810 - 10 May 2023

Cited by 1 | Viewed by 1461

Abstract

This study analyzes whether a company’s competitive advantage affects a company’s tax avoidance strategy. Additionally, it analyzes whether these effects depend on the level of competition in the market to which the company belongs. This is because a company’s tax avoidance strategy may vary depending on the characteristics of the firm, such as the financial position and governance structure, the market dominance, or the degree of competition in the market to which the company belongs and it can act as an incentive for tax avoidance. Results of this study is follows. Tax avoidance increases significantly as a company’s market share increases. Also, if the sample is divided by the level of market competition and analyzed, the results show that tax avoidance increases significantly with the increase in a company’s market power only in oligopolistic markets with low market competition. Therefore, it can be interpreted that the effect of a company’s market power on tax avoidance varies depending on the level of competition in the market. Full article

(This article belongs to the Special Issue Sustainable Business Competitive Advantage and Business Performance)

21 pages, 3621 KiB

Open AccessArticle

Demystifying the Sustainable Competitive Advantage of Sualkuchi Silk Products: Perspectives of Buyers and Sellers

by Sunil Tiwari, Joanna Rosak-Szyrocka, Dimpal Bharali, Sunildro L. S. Akoijam and Binoy T.A.

Sustainability 2023, 15(2), 1110; https://doi.org/10.3390/su15021110 - 6 Jan 2023

Viewed by 2792

Abstract

India’s Assam silk products are well known and popular across the globe but have been facing stiff competition from numerous competitors. In this regard, there is a need to analyse the sustainable competitive advantages of Assam silk products to devise defensive strategies to sustain the age-old industry. Therefore, the purpose of this study was to identify the sustainable competitive advantages of the Assam silk products from buyers’ and sellers’ perspectives. Data were collected from 200 sellers and buyers through a standardised structured questionnaire; namely, the Buyers’ and Sellers’ Agreement Scale (BSAS). We employed the one-sample and independent-sample t-tests for the data estimation. The findings indicated that the Assam silk products had different levels of sustainable competitive advantages that mainly included quality, geographical indications, designs, durability, customer loyalty, customer base, timely delivery, product differentiation, product uniqueness, and innovation. The findings were new because this was the first study that identified the sustainable competitive advantages of India’s Assam silk industry, which occupies a significant position in the world. The study will benefit India’s Assam silk industry in devising strategies to face the challenges in sustaining and growing its business for a long time. Full article

(This article belongs to the Special Issue Sustainable Business Competitive Advantage and Business Performance)

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18 pages, 1961 KiB

Open AccessArticle

An Intelligent Recommendation for Intelligently Accessible Charging Stations: Electronic Vehicle Charging to Support a Sustainable Smart Tourism City

by Pannee Suanpang, Pitchaya Jamjuntr, Phuripoj Kaewyong, Chawalin Niamsorn and Kittisak Jermsittiparsert

Sustainability 2023, 15(1), 455; https://doi.org/10.3390/su15010455 - 27 Dec 2022

Cited by 18 | Viewed by 4647

Abstract

The world is entering an era of awareness of the preservation of natural energy sustainability. Therefore, electric vehicles (EVs) have become a popular alternative in today’s transportation system as they have zero emissions, save energy, and reduce pollution. One of the most significant problems with EVs is an inadequate charging infrastructure and spatially and temporally uneven charging demands. As such, EV drivers in many large cities frequently struggle to find suitable charging locations. Furthermore, the recent emergence of deep reinforcement learning has shown great promise for improving the charging experience in a variety of ways over the long term. In this paper, a Spatio-Temporal Multi-Agent Reinforcement Learning (STMARL) (Master) framework is proposed for intelligently public-accessible charging stations, taking into account several long-term spatio-temporal parameters. When compared to a random selection recommendation system, the experimental results demonstrate that an STMARL (master) framework has a long-term goal of lowering the overall charging wait time (CWT), average charging price (CP), and charging failure rate (CFR) of EVs. Full article

(This article belongs to the Special Issue Sustainable Business Competitive Advantage and Business Performance)

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20 pages, 677 KiB

Open AccessArticle

When Being Large Is Not an Advantage: How Innovation Impacts the Sustainability of Firm Performance in Natural Resource Industries

by Angel Sevil, Alfonso Cruz, Tomas Reyes and Roberto Vassolo

Sustainability 2022, 14(23), 16149; https://doi.org/10.3390/su142316149 - 2 Dec 2022

Cited by 4 | Viewed by 2386

Abstract

This paper provides an in-depth study of how incremental innovation, a ubiquitous factor, affects the sustainability of performance of small- and large-sized firms differently. Specifically, this work examines the sustainability of firm growth in natural resource industries. In these industries, innovation is mainly based on processes in the form of incremental changes, and the adoption of innovations has significant sunk costs. We argue that, before incremental process innovation, firm performance is directly proportional to firm size. However, in the presence of incremental innovation events, firm performance is inversely proportional to firm size since smaller firms pose higher strategic flexibility and can adopt innovations faster. Our empirical findings highlight the relevance of incremental innovation as an inflection point of firm performance, creating a competitive opportunity window for small firms and a sustainability threat for large firms. Full article

(This article belongs to the Special Issue Sustainable Business Competitive Advantage and Business Performance)

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19 pages, 4856 KiB

Open AccessArticle

Extensible Metaverse Implication for a Smart Tourism City

by Pannee Suanpang, Chawalin Niamsorn, Pattanaphong Pothipassa, Thinnagorn Chunhapataragul, Titiya Netwong and Kittisak Jermsittiparsert

Sustainability 2022, 14(21), 14027; https://doi.org/10.3390/su142114027 - 28 Oct 2022

Cited by 51 | Viewed by 5993

Abstract

The metaverse is an innovation that has created the recent phenomenon of new tourism experiences from a virtual reality of a smart tourism destination. However, the existing metaverse platform demonstrated that the technology is still difficult to develop, as the service provider did not disclose the internal mechanisms to developers, and it was a closed system, which could not use or share the user’s data across platforms. The aim of this paper was to design and develop an open metaverse platform called the “extensible metaverse”, which would allow new developers to independently develop the capabilities of the metaverse system. The acquisition of this new technology was conducted through requirements analysis, then the analysis and design of the new system architecture, followed by the implementation, and the evaluation of the system by the users. The results found that the extended metaverse was divided into three tiers that created labels, characters, and virtual objects. Furthermore, the linking tier combined the 3D elements, and the deployment tier compiled the results of the link to use all three parts by using the Blender program, Godot Engine, and PHP + WebGL as their respective key mechanisms. This system was tested in Suphan Buri province, Thailand, which was evaluated by 428 users. The results of the metaverse satisfaction, created tourism experience, and overall satisfaction of the variation of the satisfaction of using the metaverse were 86.0%, 79.7%, and 92.9%, respectively. The relative Chi-square (χ²/df) of 1.253 indicated that the model was suitable. The comparative fit index (CFI) was 0.984, the goodness-of-fit index (GFI) was 0.998, and the model based on the research hypothesis was consistent with the empirical data. The root mean square error of approximation (RMSEA) was 0.024. In conclusion, the extended metaverse is more flexible than other platforms and also creates the user’s satisfaction and tourism experience in the smart destination to support sustainable tourism. Full article

(This article belongs to the Special Issue Sustainable Business Competitive Advantage and Business Performance)

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