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This paper reviews the development of knowledge creation theory in the last quarter-century and how it has contributed to innovation management and looks into social and human aspects of innovation in the era of “Society 5.0”.

This research aims to relate basic theoretical concepts: knowledge creation and knowledge assets, purpose, leadership, and place (Ba) for innovation to drive innovation and its management as a whole ecosystem. It also discusses the application to innovation management systems open innovation, and social innovation.

Today's innovation demands socio-economic fusion that goes beyond current corporate boundaries. By preparing the system (knowledge ecosystem) as the basis, we could build the bridge, and such fusion would be possible.

This paper shows the framework of the idea. Evidence-based research based on “knowledge assessment” will be discussed on another occasion.

This research is to explain knowledge management, innovation, and social innovation beyond the corporate framework.

The purpose of this paper is to examine the role of green intellectual capital in fostering societal sustainability. Also, this study investigated how co-creational customer capital mediates the relationship between green intellectual capital and societal sustainability. The paper draws attention to co-creating customer capital and understanding its impact on societal sustainability in high-contact service startups.

Data were collected from responses from 376 high-contact service startup firms headquartered in the Indian subcontinent, particularly emerging markets. The proposed conceptual model was analyzed using the partial least squares structural equation modeling (PLS-SEM) approach. The analysis is based on primary data obtained from strategic-level employees.

The results highlight the impact of co-creational customer capital in the Green Intellectual Capital – Societal Sustainability (GICS) model. Green intellectual capital components significantly influence societal sustainability outcomes in the existence of co-created customer values. It establishes customer capital as an essential factor that mediates the relationship between green intellectual capital and societal sustainability.

This research provides conceptualization and subsequent investigation of customer value creation in service-led startups. The construct co-creation is more appropriate for the service industry in common.

This paper establishes co-created customer capital as an enabler in transforming underlying components of green intellectual capital into societal sustainability measures. Firms may generate higher customer value by pooling green human and relational capital along with active customer response and shared knowledge. This creates an organizational asset termed co-created customer capital specific to service industries.

The article proposes a novel way to analyze customer value in service organizations. To the best of the authors’ knowledge, no study has looked at how co-creational customer capital could act as a mediator between green intellectual capital and societal sustainability in the service industry context, particularly for SMEs and startups from emerging economies. Co-created customer capital may be used as an instrument to overcome managerial challenges in the context of transforming green intellectual capital into societal capital.

The purpose of this paper is to investigate the potential link between Sweden’s high reliance on equity capital financing among small and medium-sized enterprises (SMEs) and its recognition as the most innovative economy in Europe according to the European Innovation Scoreboard (EIS). This paper examines the idea that the high levels of trust within Swedish society can explain why private equity financing is more prevalent among Swedish SMEs.

To test these ideas, the authors use data from the Survey on Access to Finance for Enterprises to measure the private equity reliance of firms. The authors also use the EIS to measure the innovation capacity of nations and various aspects of SMEs’ innovation activities. Finally, societal levels of trust are measured through the World Value Survey.

First, the authors find that European countries with a higher proportion of SMEs relying on equity financing tend to be ranked as more innovative by the EIS. Second, the authors find that the correlation between a nation’s share of SMEs relying on equity financing and their level of innovation activities is marginally stronger for product innovations than for business process innovations. Third, the authors find that countries with higher levels of trust tend to have higher equity capital reliance among SMEs.

This study builds upon previous research on equity capital and SMEs’ innovation activity while introducing new insights into the relationship between societal trust and equity financing.

To date, sustainability in technology firms has focused on improving outputs while maintaining the same inputs. The purpose of this paper is to propose a six‐stage model for enhancing inputs as well as outputs, named sustainable human capital. The paper extends traditional views of individuals as human capital, measured as formal education and direct experience to incorporate more holistic and humanistic views of informal education and indirectly related experience. This allows technology firms, whose lifeblood is innovation, to increase employee satisfaction and performance, quality and quantity of technology firm innovation, and societal well‐being in the form of sustainable products and services.

This paper extends concepts in innovation management to build a holistic model of employees as sustainable human capital. By bridging theory and practice, this paper provides a framework for knowledge‐building partnerships and, thus, relational wealth, or the value created by and for a firm through its internal relations among and with employees.

A model of sustainable human capital starts with pre‐hiring processes (raw materials), on‐boarding (design stage), training and development (production stage), developing external partnerships and integrating individual employees with the ecosystem (distribution stage), building internal relationships through mentoring (use and maintenance stage), and employee's exit through succession planning (recovery stage).

Technology managers have been utilizing a lifecycle approach for product innovation, yet have de‐coupled the product from the people, the fundamental source of innovation. Thus, re‐incorporating the human aspect to the lifecycle approach offers practices for holistic engagement of employees in innovation. Just as management literature pushed economists to shift their views of employees from homogeneous units of human capital to heterogeneous individuals, sustainability literature must evolve in its approach to start thinking of employees as discrete individuals with differentiated skills that change over time.

The purpose is to develop a work-integrated learning (WIL) model for university-society research collaboration facilitating societal impact toward short lag yet sustainable societal impact for local innovation.

The methodology applied was engaged scholarship based on a WIL approach involving a network of collaborating partners from different sectors of society and cross-disciplinary university researchers. Mixed data collection methods were applied.

Conceptualization of university-society research collaboration for local innovation is presented as a WIL model including the elements of continuity and commitment, coordination, communication and relationships, trust, courage and creativity and co-creation opportunities. Short lag societal impact as local innovation was identified as product and process innovations.

Further validation of the model is encouraged for the model to be viable in various contexts and to generate different kinds of societal impact.

The model may act as a governing tool for project management to facilitate co-creative and short lag societal impact for local innovation to ensure that engaged and learning activities are embedded in the collaborative process.

The model has implications for inclusiveness and co-creation fostering transparency, respect and mutuality in university-society research collaboration and to equate both academic and practice knowledge.

The conclusions drawn support the understanding of a WIL approach practicing engaged scholarship in research collaborations. The main theoretical and practical contributions of the article are the conceptual model for university-society research collaboration generating short lag societal implications and local innovation.

The 2008/2009 World Financial Crisis underlined the importance of social responsibility for the sustainable functioning of economic markets. Heralding an age of novel heterodox economic thinking, the call for integrating social facets into mainstream economic models has reached unprecedented momentum. Financial Social Responsibility bridges the finance world with society in socially conscientious investments. Socially Responsible Investment (SRI) integrates corporate social responsibility in investment choices. In the aftermath of the 2008/2009 World Financial Crisis, SRI is an idea whose time has come. Socially conscientious asset allocation styles add to expected yield and volatility of securities social, environmental, and institutional considerations. In screenings, shareholder advocacy, community investing, social venture capital funding and political divestiture, socially conscientious investors hone their interest to align financial profit maximization strategies with social concerns. In a long history of classic finance theory having blacked out moral and ethical considerations of investment decision making, our knowledge of socio-economic motives for SRI is limited. Apart from economic profitability calculus and strategic leadership advantages, this paper sheds light on socio-psychological motives underlying SRI. Altruism, need for innovation and entrepreneurial zest alongside utility derived from social status enhancement prospects and transparency may steer investors’ social conscientiousness. Self-enhancement and social expression of future-oriented SRI options may supplement profit maximization goals. Theoretically introducing potential SRI motives serves as a first step toward an empirical validation of Financial Social Responsibility to improve the interplay of financial markets and the real economy. The pursuit of crisis-robust and sustainable financial markets through strengthened Financial Social Responsibility targets at creating lasting societal value for this generation and the following.

The purpose of this paper is to provide a framework for guiding social innovation in service (SIS), defined as the creation of novel, scalable and sustainable market based service offerings that solve systemic societal problems.

This research provides a review and synthesis of transdisciplinary literatures to establish a basis for the conceptual framework proposed for SIS.

It is argued that the primary unit of an SIS is the service firm and that there are micro-, meso-, and macro-level actors and enablers in the ecosystem that can help bring about SIS. Examples from the hospitality and tourism industry are used to demonstrate key points.

Benefits of an SIS to companies include growth through new markets and innovative value offerings, sustainable supply chains in production, building consumer value and trust in the company/brand, attracting and retaining talent and being proactive in including social and environmental measures of success in customer metrics and company financial reporting.

This paper contributes to the social innovation and service literature by: offering a new, scientifically supported view of an SIS; providing managers with a framework to guide social innovation within their service firm and for the benefit of their company and its stakeholders; and directing service scholars to research issues necessary to advance SIS.

This study examines the relationship between board capital, including human and social capital, and corporate innovation. We propose two hypotheses: that a board with a higher level of human and social capital, respectively, is expected to have a higher level of innovation. To test these hypotheses, we use data from different sources, including SEC EDGARD-10k, Noah Stoffman, and S&P 500 Capital IQ for US public firms from all industries from 2000 to 2018. Four different innovation measurements are used to proxy for innovation: R&D, patents, citations, and number of new products. We use directors' level of education and industry experience to proxy for board human capital. The directors' social networks and interlocking ties are used to proxy for board social capital. We use fixed effect regressions to test the hypotheses and two-stage least square (2SLS) regressions to address endogeneity issues. We find that boards with higher levels of human capital are highly associated with corporate innovation in terms of citations. The findings imply that firms should hire directors with higher education and industry experience if they wish to increase their innovation.