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1 – 10 of 202Financial technologies form the heart of considerable disruptive innovation. Fintech is the emerging financial infrastructure for modern business. Big data are the feedstock for…
Abstract
Financial technologies form the heart of considerable disruptive innovation. Fintech is the emerging financial infrastructure for modern business. Big data are the feedstock for artificial intelligence (AI) that drives many fintech sectors – start-up finance, commodities and investment instrumentation, payment systems, currencies, exchange markets/trading platforms, market-failure response forensics, underwriting, syndication, risk assessment, advisory services, banking, financial intermediaries, transaction settlement, corporate disclosure, and decentralized finance. This chapter demonstrates how analyzing big data, largely processed through cloud computing, drives fintech innovations, scholarship, forensics, and public policy. Despite their apparent virtues, some fintech mechanisms can externalize various social costs: flawed designs, opacity/obscurity, social media (SM) influences, cyber(in)security, and other malfunctions. Fintech suffers regulatory lag, the delay following the introduction of novel fintechs and later assessment, development, and deployment of reliable regulatory mechanisms. Big data can improve fintech practices by balancing three key influences: (1) fintech incentives, (2) market failure forensics, and (3) developing balanced public policy resolutions to fintech challenges.
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Lingling Huang, Chengqiang Zhao, Shijie Chen and Liujing Zeng
Technical advantages embraced by blockchain, such as distributed ledger, P2P networks, consensus mechanisms and smart contracts, are highly compatible with addressing the security…
Abstract
Purpose
Technical advantages embraced by blockchain, such as distributed ledger, P2P networks, consensus mechanisms and smart contracts, are highly compatible with addressing the security issues of transferring and storing judicial documents and obtaining the feedback and evaluation of judicial translation services in cases with foreign elements. Therefore, based on this, a consortium blockchain-based model for supervising the overall process of judicial translation services in cases with foreign elements is proposed.
Design/methodology/approach
Some judicial documents are required to be translated when there are language barriers in cases with foreign elements. The purpose of this paper is expected to address security issues, which is ignored, in the process of translating judicial documents.
Findings
The experimental results show that the model constructed in this paper can effectively guarantee the security and privacy of transferring and storing translated judicial documents in cases with foreign elements, and realize the credibility and traceability of feedbacks and evaluations of judicial translation services. In addition, the underlying network communications is stable and the speed for processing data can meet the requirements of practical application.
Originality/value
The research in this paper provides an innovative scheme for judicial translation services in cases with foreign elements. The model constructed is conducive to protecting the security of the transfer and storage of judicial documents and improving the efficiency and modernization ability of hearing cases with foreign elements.
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Xueguo Xu and Hetong Yuan
Breakthrough technological innovation is of vital significance for firms to acquire and maintain sustainable competitive advantages. The construction of an innovation ecosystem…
Abstract
Purpose
Breakthrough technological innovation is of vital significance for firms to acquire and maintain sustainable competitive advantages. The construction of an innovation ecosystem and the interaction with heterogeneous participants have emerged as a new dominant model for driving sustained breakthrough technological innovation in firms. This study aims to explore the effects of collaborative modes within the innovation ecosystem on firms’ breakthrough technological innovation and the ecological legitimacy mechanisms involved.
Design/methodology/approach
The research employs data from 212 innovative firms and conducts empirical research using a two-stage structural equation modeling (SEM) and artificial neural network (ANN) analysis.
Findings
The results indicate that firm-firm collaboration (FF), firm-user collaboration (FU), firm-government collaboration (FG), firm-university-institute collaboration (FUI) and firm-intermediary collaboration (FI) all have significant positive effects on breakthrough technological innovation (BTI), with FU being particularly crucial. Furthermore, the results confirm the positive moderating effects of ecological legitimacy (EL) on the relationships between FF and BTI, as well as between FU and BTI. Conversely, EL has a negative moderating effect on the relationship between FUI and BTI, as well as between FI and breakthrough technological innovation. Additionally, EL does not have a significant influence on the relationship between FG and BTI.
Originality/value
Through resource dependence theory (RDT), this study unveils the black box of how collaboration modes within innovation ecosystems impact breakthrough technological innovation. By introducing ecological legitimacy as a contextual factor, a new research perspective is provided for collaboration innovation within innovation ecosystems. The study employs a combination of SEM and ANN for modeling, complementing nonlinear relationships and obtaining robust results in complex mechanisms.
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In recent years, new and technologically innovative financial products and services, generally subsumed under the fintech umbrella, have permeated all areas of capital markets at…
Abstract
In recent years, new and technologically innovative financial products and services, generally subsumed under the fintech umbrella, have permeated all areas of capital markets at an exponential rate. Primarily driven by developments in Web3 and advancements in artificial intelligence (AI), fintech solutions offer valuable benefits to all existing markets and participants and are the basis for introducing wholly new segments to classic capital market ecosystems. However, this increasing fintech adaptation does not come without challenges. Due to the technologies' nascent nature and often unregulated status, many products are susceptible to manipulation and fraud. The result can be sizable investor losses and excessive regulatory and public scrutiny. This chapter highlights the most essential and prominent fintech solutions used in capital markets today, along with their features, value additiveness, and degree of adaptation.
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From a firm-centric perspective, this study aims to elaborate on the types of servitisation strategies that can support a firm’s circular ambitions by asking: What is the role of…
Abstract
Purpose
From a firm-centric perspective, this study aims to elaborate on the types of servitisation strategies that can support a firm’s circular ambitions by asking: What is the role of servitisation in narrowing, slowing and/or closing resource loops? And, how are resources and capabilities arranged to provide such strategic circular service offerings?
Design/methodology/approach
Drawing on the experiences of an international manufacturing company from a dynamic capabilities perspective, the study offers an analytical framework that goes inside the firm’s operationalisation of its service offerings to support circularity in terms of the strategic decisions made. This framework is later used to frame the findings.
Findings
The study highlights the case-specific feedback loops and capabilities needed to support circular transitions. Various resource and innovation strategies for circularity are combined along customer interfaces and in partnership with upstream actors. Yet, open innovation strategies are conditioned by physical distance to provide circular services in remote areas.
Research limitations/implications
The main contributions are empirical, analytical, conceptual and practical. The servitisation framework for circularity connects prior servitisation-circularity research and provides an analytical tool for framing future studies. The study also expands the definition of open innovation in that closed innovations for circularity can be achieved through “open” information exchange in knowledge networks, as well as provides advice for similar large manufacturing companies.
Originality/value
This study focuses on the strategic choices made by industrial firms for circular service provision and emphasises the environmental benefits from such choices, in addition to the economic and customer benefits covered in extant servitisation research.
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This chapter explores the vast array of fintech opportunities. The industry commanded approximately $250 billion in revenue in 2022, which is predicted to grow to $1.5 trillion by…
Abstract
This chapter explores the vast array of fintech opportunities. The industry commanded approximately $250 billion in revenue in 2022, which is predicted to grow to $1.5 trillion by 2030. Fintech firms are involved in everything from digital currencies to payment systems, lending platforms, and embedded finance. Firms use artificial intelligence (AI) and machine learning (ML) to create personalized financial products. One of the most important benefits to society is that fintech makes finance more inclusive to the traditionally underserved. However, fintech has its challenges. Regulations evolve, making compliance a challenge. Also, the industry is vulnerable to cyberattacks and money laundering. Companies hold large amounts of sensitive data, making them obvious targets for bad actors. As with many industries, governance, compliance, and transparency are essential for fintechs as they transform the financial services landscape.
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Guido Migliaccio and Andrea De Palma
This study illustrates the economic and financial dynamics of the sector, analysing the evolution of the main ratios of profitability and financial structure of 1,559 Italian real…
Abstract
Purpose
This study illustrates the economic and financial dynamics of the sector, analysing the evolution of the main ratios of profitability and financial structure of 1,559 Italian real estate companies divided into the three macro-regions: North, Centre and South, in the period 2011–2020. In this way, it is also possible to verify the responsiveness to the 2020 pandemic crisis.
Design/methodology/approach
The analysis uses descriptive statistics tools and the ANOVA method of analysis of variance, supplemented by the Tukey–Kramer test, to identify significant differences between the three Italian macro-regions.
Findings
The study shows the increase in profitability after the 2008 crisis, despite its reverberation in the years 2012–2013. The financial structure of companies improved almost everywhere. The pandemic had modest effects on performance.
Research limitations/implications
In the future, other indices should be considered to gain a more comprehensive view. This is a quantitative study based on financial statements data that neglects other important economic and social factors.
Practical implications
Public policies could use this study for better interventions to support the sector. In addition, internal management can compare their company's performance with the industry average to identify possible improvements.
Social implications
The research analyses an economic field that employs a large number of people, especially when considering the construction and real estate services covered by this analysis.
Originality/value
The study contributes to the literature by providing a quantitative analysis of industry dynamics, with comparative information that can be deduced from financial statements over the years.
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H. Kent Baker, Greg Filbeck and Keith Black
Financial technology (fintech) refers to using new technology to improve and automate the delivery and use of financial services. This chapter provides a brief introduction to…
Abstract
Financial technology (fintech) refers to using new technology to improve and automate the delivery and use of financial services. This chapter provides a brief introduction to fintech. It also includes the book's purpose, distinguishing features, intended audience, and structure. A synopsis of Chapters 2 through 23 is offered. The chapter concludes that fintech is constantly evolving and is reshaping finance. Fintechs offer a new paradigm of growth.
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Sarah A. Courchesne, Dave Stynen, Judith H. Semeijn and Marjolein C.J. Caniëls
Organizations are increasingly joining inter-organizational networks to foster sustainable employability for their employees. The purpose of this study is to identify the factors…
Abstract
Purpose
Organizations are increasingly joining inter-organizational networks to foster sustainable employability for their employees. The purpose of this study is to identify the factors and mechanisms central to their success as experienced by key stakeholders.
Design/methodology/approach
An explorative, qualitative approach was adopted, using four focus groups with network coordinators (N = 18) and HR professionals (N = 14). Fourteen Dutch inter-organizational networks were represented. Respondents were recruited through purposive and snowballing sampling techniques. Thematic analysis was applied using open coding to generate themes.
Findings
The results of this study outline environmental, structural, and inter-personal factors and mechanisms that contribute to the success of inter-organizational networks that aim to foster sustainable employability for their employees. The environmental factors and mechanisms consist of challenges stemming from the labor market. The structural factors and mechanisms include: a network’s flat structure, flat fee, lack of informal rules, the allocation of roles and expectations for stakeholders and shared network activities. Lastly, the inter-personal factors and mechanisms are: communication among stakeholders, establishing reciprocity, interaction and collaboration between stakeholders, the valuation of trust, a convivial culture and shared vision among stakeholders. The dynamics between these factors and mechanisms are compared to other forms of inter-organizational networks. Furthermore, several recommendations for network coordinators and practitioners regarding the development of networks are presented.
Originality/value
This study provides insights into the factors and mechanisms that are regarded by stakeholders as influencing the success of inter-organizational networks in their ability to foster sustainable employability for workers. We have identified a unique model that captures this new way of inter-organizational collaboration and builds on insights from literature on collaborative governance regimes, institutional fields and entrepreneurial ecosystems. Specifically, the model provides a framework that consists of environmental, structural and interpersonal factors and mechanisms for network success. This study increases our understanding of how collaborative efforts can be fostered beyond organizational boundaries and existing Human Resource Management practices.
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Brenda Nansubuga and Christian Kowalkowski
Subscription offerings are being hailed as the next service growth engine for companies in both business-to-consumer (B2C) and business-to-business (B2B) markets. The study…
Abstract
Purpose
Subscription offerings are being hailed as the next service growth engine for companies in both business-to-consumer (B2C) and business-to-business (B2B) markets. The study analyzes how a manufacturing firm can develop and implement a scalable service-based subscription business model for B2C and B2B customers alongside its existing product-centric model.
Design/methodology/approach
A longitudinal case study is conducted, drawing on 25 in-depth interviews with company executives and dealers in key European markets.
Findings
The study outlines an iterative process model for subscription business model innovation. It reveals key events and decisions taken in developing, implementing, and scaling the new business model and how internal and external tensions involving intermediaries arose and were mitigated during the four stages of the process.
Research limitations/implications
The findings highlight the dynamics of business model innovation processes and underscore the importance of organizational learning, collaborative relationships with channel partners, and strategic talent acquisition during business model innovation.
Practical implications
The findings suggest how product-centric firms can implement new service business models alongside existing product models and what this means for partner and customer journey management.
Originality/value
While servitization research predominantly concerns B2B manufacturers, B2C research focuses on digital subscription contexts. The study bridges this divide by investigating the move to subscriptions in both markets.
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