It is of practical significance to introduce the Internet of Things technology into the financial service industry and find the driving factors and mechanisms of financial innovation to accelerate the promotion of financial innovation. This article starts from the perspective of banks and other supply chain financial institutions, takes mainstream trading products in the commodity trading market as the research object, uses the LA-VAR model, and fully considers the market price fluctuations and liquidity factors of (...) supply chain financial inventory products. It analyzes the theoretical basis of the continuous innovation of rural financial products. On the basis of analyzing the basic characteristics and types of rural financial product innovation, we explore the connotation of sustainable innovation of rural financial products, clarify the evaluation criteria, and lay a theoretical foundation for continuous dynamic evaluation. Based on technical innovation evaluation theoretical models such as Schumpeter’s innovation model, technical specifications-technological track model, and NR relationship model market, we analyze the innovation elements of rural financial products from the external and internal aspects of innovation and discuss the relationship between the factors. The interaction mechanism of rural financial products has established a dynamic mechanism model for the continuous innovation of rural financial products. A fuzzy comprehensive evaluation was made on the continuous innovation power of financial service industry products in a certain area. Using a combination of remote surveys and on-site visits, a questionnaire survey was conducted on financial service industry institutions in a certain region’s financial system. Each survey object was required to conduct 120 × 1067 index comparisons and use the data after processing the arithmetic average Matlab carries out the objective processing of programming. The results show that the LA-VAR model with liquidity indicators can measure the liquidity risk well and more comprehensively evaluate the risk of the inventory pledge financing model. According to the index weights determined by AHP, the development of the financial service industry will be promoted in a targeted manner from the internal construction of financial institutions and the optimization of the external innovation environment. (shrink)

An increasing number of financial services (FS) companies are adopting solutions driven by artificial intelligence (AI) to gain operational efficiencies, derive strategic insights, and improve customer engagement. However, the rate of adoption has been low, in part due to the apprehension around its complexity and self-learning capability, which makes auditability a challenge in a highly regulated industry. There is limited literature on how FS companies can implement the governance and controls specific to AI-driven solutions. AI auditing cannot (...) be performed in a vacuum; the risks are not confined to the algorithm itself, but rather permeates the entire organization. Using the risk of unfairness as an example, this paper will introduce the overarching governance strategy and control framework to address the practical challenges in mitigating risks AI introduces. With regulatory implications and industry use cases, this framework will enable leaders to innovate with confidence. (shrink)

Our study considers the governance, ethics and operational challenges associated with the acquisition, manipulation and commodification of ‘big data’ in the financial services sector. To the best of our knowledge, there are no published studies describing empirical research undertaken within companies in this sector to understand how they are responding to such challenges: our field-based research is a significant initial contribution in this respect. We describe the results of a micro-ethnographic study undertaken in a small-to-medium-sized company developing disruptive, (...) technology-related platforms and services in the banking and retail sectors based on big data and associated analytics: these are used to derive commercially valuable insights from personal customer data in exchange for cash back and targeted rewards. The company was found to employ a multi-level innovation governance approach, underpinned by an ethical strategy based on a principle of mutual benefit. Opt-in and informed consent for using data for specific purposes was supported by principles of data minimisation and anonymisation, with unrestricted use of secondary, anonymised and aggregated data to develop insights. Governance, which included contextual data protection legislation, payment-card industry data usage standards and internal corporate controls, presented as bespoke organisational practices relating to data security and privacy. These in total set the governance and ethics frame for big data innovation at the company within which it has had to be both adaptive and responsive under conditions of normative and regulatory uncertainty. (shrink)

With the development of the globalization of science and technology, innovation has become an important driving force for regional economic development. As a core element of regional innovation, financial R&D resources have also become a key element to enhance national innovation capabilities and national economic competitiveness. National and regional innovation capabilities have a direct impact. There are also many deep-seated problems behind the world-renowned achievements, such as irrational industrial structure, insufficient independent innovation capabilities, low resource utilization efficiency, and the (...) service quality and efficiency of financial institutions for the transformation of total factor productivity. These problems extremely restrict the efficiency upgrade and further development of our country’s total factor productivity. This study uses the DEA-Malmquist index model to measure the efficiency of fiscal R&D resource allocation in 28 provinces and regions in China in the past 10 years and uses Mapinfo12.0 software to analyze regional differences in the efficiency of fiscal R&D resource allocation in China from a spatial perspective. During the year, the overall R&D resource allocation efficiency of 28 provinces and autonomous regions in China has shown an upward trend. The efficiency of fiscal R&D resource allocation and the concentration of financial factors have had a positive impact on total factor productivity, transform and upgrade factors, increase total factor productivity, and provide empirical evidence for building a strong country. (shrink)

Learn how technological disruption has scaled the business for good movement to a new achievable reality and discover how you can do well by doing good with your business too.

Industrial investment funds are a new financing innovation mode that can build an effective financing channel for enterprises.Based on the panel data of Chinese Listed Companies in 2008–2017, this manuscript constructed a static panel model between industrial investment funds, government R&D subsidies, and technological innovation to empirically analyze the effects of industrial investment fund involvement and government R&D subsidies on companies’ technological innovation. The research shows that industrial investment fund involvement can increase the company’s R&D investment by providing (...) financial funds for the company, which can effectively solve the company’s lack of funds in the process of technological innovation and guarantee the smooth running of the company’s innovation activities. Secondly, government R&D subsidies can alleviate the pressure of R&D investment to a certain extent, which is conducive to promote a higher level of technological innovation in the company. Thirdly, for companies with industrial investment fund involvement, government R&D subsidies are conducive to promote technological innovation. In contrast, for companies without industrial investment fund involvement, government R&D subsidies have no significant impact on technological innovation to a certain extent or even have a “crowding out effect.”. (shrink)

Ethics and business -- Culture, business and ethics in a globalising world -- Moral development, moral positioning and decision-making -- Ethical dilemmas and decision-making (models) -- Professional ethics -- Organisational ethics -- Corporate social responsibility -- Sustainability and business -- Business and human rights -- Responsible entrepreneurship and innovation -- Information technology and business.

Significant challenges confronting China include reducing carbon emissions, dealing with the resulting problems, and meeting various requirements for long-term economic growth. As a result, the shift in industrial structure best reflects how human society utilizes resources and impacts the environment. To meet China's 2050 net-zero emissions target, we look at how technological innovations, financial development, renewable energy investment, population age, and the economic complexity index all play a role in environmental sustainability in China. Analyzing short- and long-term (...) relationships using ARDL bounds testing, we used historical data spanning 1990–2018. According to the study's findings, the cointegration between CO2 emissions and their underlying factors was found. The deterioration of the environment directly results from financial development, increasing economic complexity, and population aging. Technical advancements, investments in renewable energy sources, and changes to the industrial structure all contribute to lower CO2 emissions. Granger causality results were also reliably obtained in this study. According to our findings in the fight against environmental problems, a key tool for meeting long-term sustainability goals is policy prescriptions that use technological innovations, renewable energy investment, and industrial structure. (shrink)

The paper at hand analyzes the economic implications of service robots as expected important future technology. The considerations are embedded into global trends, focusing on the interdependencies between services and industry not only in the context of the provision of services but already starting at the level of the innovation process. It is argued that due to the various interdependencies combined with heterogenous application fields, the resulting implications need to be contextualized. Concerning the net labor market effects, (...) it is reasonable to assume that the field of service robotics will generate overall job creation that goes along with increasing skill requirements demanded from involved employees. It is analyzed which challenges arise in evaluating and further developing the new technology field and some policy recommendations are given. (shrink)

Business Ethics, the Environment & Responsibility, EarlyView.

Business Ethics, the Environment & Responsibility, Volume 31, Issue 1, Page 257-271, January 2022.

ITC technologies have come to comprehensively represent images and expectations of the future. Hopes of ongoing progress, economic growth, skill upgrading and possibly also democratisation are attached to new ICTs as well as fears of totalitarian control, alienation, job loss and insecurity. Currently, with the terms "Industry 4.0." and ‘Fourth Industrial Revolution”, public institutions, private institutions, and literature refer to the inchoate transformation of production of goods and services resulting from the application of a new wave of (...) class='Hi'>technological innovations: interconnected collaborative robots; machine learning; Artificial Intelligence; 3D printers connected to digital development software; simulation of interconnected machines; integration of the information flow along the value chain; multidirectional communication between manufacturing processes and products. According to the main representations of Industry 4.0. by private and public institutions, its effects are expected to be mainly positive, for what regards productivity, economic opportunities and the future of work. The positive potentials now attributed to the new cycle of innovation evoke and expand those attributed to the previous waves of innovation linked to ITC technologies, and, even before, to the transition from Fordism to Post-Fordism. However, these transformations have so far not achieved any of the promises they raised. Improvements for workers in terms of work conditions, work performance and work relationships cannot be determined by any technical innovation in itself, being technological innovation always socially shaped. (shrink)

Place mouse over image continent. 2.1 (2012): 36–39. From an ethical and political perspective, people and property can hardly be separated. Indeed, the modern political subject – that is, the individual, the person, the self, the autonomous actor, the rational self-interest maximizer, etc. – has taken shape in and through the elaboration, institutionalization, and enactment of that which rightfully belongs to it. This thread can be traced back perhaps most directly to Locke’s notion that the origin of the political state (...) occurs when people rise above the state of nature by ceding the power to prosecute offenses. The rule of law begins then with a defense of the right to property. People become subjects by adhering to the social contract, which they do by deferring the defense of their own property to the state. In this light, the response of the United States federal government to the financial crisis of 2008 appears to many as a breach of the social contract. The chant “banks got bailed out, we got sold out” states the claim plainly. Why exactly did some subjects (e.g., the banks) have their property defended by the state (i.e., through the variety of programs including TARP, the discount window at the US Federal Reserve, etc.), when other subjects (e.g., homeowners) found themselves without protection of their property rights, forced to default on mortgage debts and face dispossession? Even if the rhetoric about “too big to fail” can be believed, and the collapse of the financial system would lead to negative consequences for people who had little or no connection to the activities that brought it about, such consequences need not call into question the notion that everyone stands equally before the law. To occupy, then, appears as a form of civil disobedience, an intentional, retaliatory breach of the social contract by those who feel that they have lost the support of the state to which they ceded their power as sovereign agents. The visible and the invisible The violation of property rights of people who have recognition, protection and power under the law destabilizes their very status as citizens and tests the limit of democracy. Does the financial system force the dematerialized victimization of individuals? Do people become numbers, or worse still, percentages of unemployed, tranches of defaulted mortgages and foreclosures? Are they perhaps instead disenfranchised prospectively from the privileged position occupied by virtual entities and actors such as those involved in the derivatives markets, always already exiled back into the physical, visible realm? The line of conflict appears to be drawn between invisibility/absence/deferral and visibility/presence/realization. The demonstrators occupy an excess property of those subjects, namely, the banks and financial elite, who did receive recognition and protection under the law. By domesticating this excess property, rendering its invisibility visible within the political economy, the protesters raise a new form of threat to the hegemonic order. To occupy, then, involves a rejection of the order under which the “99%” have been subjected to erasure. The occupation seeks creatively to establish a new means of communication and law for its subjects. In the face of an existing power structure that is increasingly disenfranchising the majority of people while consolidating nodes of power and influence, the “occupation”, or the work of the Occupy movement, involves seizing a space that refuses the rules of the existing, allegedly corrupt sovereign state. This refusal of governance extends even to include a steadfast refusal to articulate a strategy, to formulate a list of demands, to converse with the sovereign power on the grounds of its own conventions, to put forth a leader, to resolve the ambiguity of the movement into a discreet identity, face, or voice. Do these tactics provide a resolution to the problem that was its genesis? Not in such a direct and easily resolved manner, but it remains difficult to imagine a direct and simple resolution to the problematic of the breach of the social contract. The ambiguity of the situation has generated significant interest within the broader populace, though many people sympathetic to the cause appear to be frustrated because the movement has not simply put forward a short list of concrete demands, or even a set of leaders and spokespeople, much less a resolution. And yet, this lack of coherence appears as a resolution of a problem generic to protest movements in the past, where individual leaders can be removed or discredited, and lists of demands can be co-opted by others holding more political power. Meanwhile, the ambiguity has compelled imitations on a global scale, with the Occupy Wall Street participants consciously taking actions that can be replicated by anyone anywhere without significant cost. These actions have taken place not in a peripheral location such as a parking lot in New Jersey, but instead close to the centers of power and governance, adjacent to Wall Street, close to the White House, on college campuses, etc. This spontaneous archipelago of protests becomes an irritant, a negation of the accepted order of protests, but when the protesters themselves move outside of their encampments, they are escorted by the police, constantly monitored and maintained so that a permanent state of paranoid persecution takes hold. To occupy, occupying, occupation – these actions involve a variable degree of danger – are you willing to step into a different space, where the rule of law is unclear and evolving? Are you presenting yourself as a representative of the majority, the 99%? Who has a sense of belonging to the 99%? This previously invisible population becomes a focal point of political power, garners increasing public support, infects the public dialogue. The government recognizes this population by forcing it from the occupied space, removing the element of possession of property. It is at this point of conflict, in the struggle to hold the physical property, where the greatest friction and violence occurs. Scaling the rule of law While occupied, the property calls for a redress of grievances, a restoration of the rule of law. The Occupy movement does not select and put forward individuals or leaders, it puts forward places – the occupied property represents the point of conflict, not the individual. And it is this very property that the government then tries to reclaim. The movement remains faceless, anonymous, uncounted, or rather counted only as a mass, the self-labeled mass of 99%. These spaces are like refugee camps or favelas, but constructed to unite the political life and private life of the protesters. This objective is presented as a tactical necessity, as all other means of protest and communication have failed, leaving only the option of seizing, holding, occupying a property. But to what end, exactly? Can anyone deliberately return to the prior social contract, embrace, affirm, and govern in strict accordance with the earlier relationship to property, following the logic of Locke’s arguments? In this respect, the contemporary crisis indicates a new, transitional phase in the way that property operates, or rather, in the balance between real and virtual value. The roots of the crisis lay in the massive overvaluation of property caused by lax lending practices, as more people were encouraged to borrow more money, which drove up the prices of property. At the same time, these individual properties, these mortgages for homes actual families lived in and worked to support, were bundled into securities that could be bought, sold, and speculated on. The reduction of a physical house or piece of real estate to an almost incalculably small element in an investment vehicle appears as a scaling of the hedge that radically diminishes the value of any individually owned property. Moreover, a number of recently-innovated financial products allow investors to hedge in new ways, to deliberately spread risk around a portfolio in hopes of bringing returns even when the individual mortgage defaults. At the level of the ‘free’ market, these virtual negative valuations are designed to balance the physical positive valuation, though many of the biggest lenders are now being investigated for controlling both sides of this valuation, the positive and the negative, to facilitate both the creation and failure of the investments and to profit from both. The ability to benefit from both the negative and positive value of an investment is a result of a technologically enabled capacity to operate within a complex field. These layered and scaled investment vehicles and the simultaneous negation of their value together represent a commingling of the virtual and physical existence that is both complex and multiple. The valuation of a virtual property has tremendous power to change the valuation of the physical - either injecting it with or depriving it of funds, pumping in or draining life and energy. This situation has roots of its own – the notion of property advanced e.g., throughout the enclosure movement in Britain was, from the outset, an imposition of virtuality (i.e., the concept of law, the institutions associated with ownership, etc.) on the physical reality of land. 1 The difference today is that technological trading platforms combined with innovations within the financial services industry have enabled the reduction of each individual property receiving or losing value in scale to an almost atomic level. In turn, the number of properties held simultaneously and valued as a massive, multiple wholes – i.e., the derivatives market in mortgage-backed securities – is a new phenomenon made possible through the application of similar technologies and institutional structures. And those actors who can trade in these layers of complexity can then profit from the new phase of disassociation of the virtual and the physical – unconcerned with and operating at such a virtual distance from the individual residing physically on a particular piece of real estate that they no longer feel the tug of the physical tying them back to the physical, operating literally as in a video game, in a virtually distanced world. What can or should be done about this situation? Answers lie outside the scope of this current essay, but merit consideration in the near future… NOTE 1) Hernando de Soto has emphasized this dimension by empirically demonstrating its non-existence in many countries in The Mystery of Capital. (shrink)

With the rapid development of society, all walks of life need the support of the Internet of Things, and the financial industry is no exception. This article integrates blockchain technology with supply chain finance and builds a supply chain financial alliance architecture based on blockchain technology and an underlying model of the Ethereum blockchain system suitable for supply chain finance. We innovated new supply chain finance models and operating mechanisms and proposed business scenarios for supply chain finance (...) from the perspective of blockchain. Taking into account the actual operation of the blockchain supply chain financial platform, the principal-agent model and the incentive theory are applied, and the supply chain financial accounts receivable model is taken as an example in the case of complete information and incomplete information. The incentive mechanism between the service provider of the chain supply chain financial platform and the core enterprise promotes the better implementation of blockchain technology and supply chain finance. Based on the existing theoretical research, this paper identifies the key influencing factors of the supply chain’s cross-enterprise incentive mechanism. These influencing factors system includes two dimensions: transaction factors and relationship factors. Transaction factors include resource dependence, uncertainty, and cooperation experience; relationship factors include corporate reputation, trust level, and relationship commitment. Based on the nature of the incentive mechanism, information sharing and revenue sharing are extracted as the measurement dimensions of the supply chain’s cross-enterprise incentive mechanism. On this basis, this article draws on the existing enterprise life cycle division method and constructs a hypothetical model of the influencing factors of the incentive mechanism in the incubation period, the growth period, and the maturity period. Relevant data was collected through questionnaires, and SPSS and AMOS software were used to perform statistical analysis, reliability analysis, exploratory factor analysis, confirmatory factor analysis, and structural equation hypothesis testing on the data. The performance of each influencing factor in different stages of the enterprise’s life cycle and the importance of each influencing factor in the same life cycle stage are obtained. (shrink)

This paper tries to investigate the future development tendency of five typical industries in China and find out whether there exists a different innovation strategy preference between Chinese firms of low- and high-knowledge density industry in the background of low-carbon sustainable development. First, this paper finds that the innovation driven-based trend of industrial development is further accelerated in China. Firms in industries with high knowledge and technology density, such as specialized-supplier, scale-intensive, and science-based industries, are more likely to choose (...) exploratory innovation strategy than exploitative innovation strategy. Firms in industries with low knowledge and technology density like service- and supplier-dominated industries are more likely to choose the exploitative innovation strategy. Second, results indicate that exploratory innovation can bring higher technological innovation performance than exploitative innovation. And the effect of the ambidextrous strategy is better than the single exploitative strategy in industries with high knowledge and technology density like specialized-supplier, scale-intensive, and science-based industries. Third, this paper suggests that innovation strategy preference plays a mediating role between industry type and technology innovation and a moderating effect of knowledge management capacity between innovation strategy and firms’ technology innovation. (shrink)

The financial applications of data technology have enabled the rise of Chinese fintech industries. As part of people's everyday lives, fintech apps have helped companies collect vast amounts of user data for business profit and social good. This paper takes an open-systems approach to study the constructs of this emerging idea of data governance, particularly its operational logic, involved stakeholders, and socio-cultural consequences in the context of fintech industries in China. It asserts that data governance at the company level (...) has been realized through three types of tasks: standardization, configuration, and monetization of big data. These tasks are oriented by the imperative of business innovation which is considered pivotal for the company to survive the competition. An ensemble of internal and external actors joined the governing process, but internal actors hold the stake. The goal of innovation drives the companies to speedily collect data from a wider variety of sources, thus having to establish more sophisticated systems to manage and utilize those data. These complicated systems, however, have urged the government to strengthen regulatory controls alongside the general support of business innovation. This study unveils the performative aspects of big-data-based innovation at fintech firms. It also helps to understand the pathology of the innovation-governance paradox shared in the data economy in the global context. (shrink)

The trajectory of beneficial use of information and communication technologies (ICT) in Hungary, Poland, Lithuania and Ukraine is analysed, especially in industry. With respect to telecom access, availability, affordability and uptake indicators, the four countries are generally behind EU cohesion countries. Between the four countries, there are huge differences in development of information society services. In industry, the use of information technologies usually has not attained the phase in which they are most rewarding. Among the most important (...) barriers to a beneficial use of computer networking in industry are the attitude of management, lack of financial resources and a lack of facilitative environment for enterprises. ICT usage is rarely part of a long-term development stratery of the firm. (shrink)

Improving the coordination between technological innovation in high-tech industries and regional economic development is an important measure for all provinces to implement the innovation-driven development strategy. Based on the analysis of the mechanism of high-tech industrial technological innovation and regional economic development, this paper constructs the measurement index system of high-tech industrial technological innovation and regional economic development, and the chain network DEA model, entropy weight method, coupling coordination model, and exploratory spatial data analysis technology are comprehensively (...) used to empirically analyze the technological innovation efficiency of high-tech industries, regional economic development level, and the coupling coordination relationship between them and the spatiotemporal evolution trend in 24 provinces of China from 2009 to 2018. The results show that there are significant differences in the average level of technological innovation efficiency of high-tech industry in each stage, which is the most prominent in the technology research and development stage, followed by the industrialization stage, and finally in the technology transformation stage. The degree of coupling and coordination between high-tech industrial technological innovation and regional economic development is increasing year by year, which is in the adaptation stage of high-tech industrial technological innovation and regional economic development. From the perspective of spatial pattern, there is a positive spatial autocorrelation between the coupling coordination degree of high-tech industrial technological innovation and regional economic development. The number of provinces with low coupling coordination degree is much larger than that with high coupling coordination degree, showing a serious imbalance of regional heterogeneity and forming two spatial aggregation areas of “high-high” diffusion effect and “low-low” low-speed growth. (shrink)

Integrated design of financial self-service terminal based on artificial intelligence voice interaction with the rapid development of science and technology, artificial intelligence technology is deepening in the field of intelligence and automation. The financial industry is the lifeblood of a country’s economy, with great growth potential and high growth rate. The integrated design of intelligent financial self-service terminal has become an important topic in the field of rapid development of social economy and science and technology. Therefore, (...) this paper designs the integration of financial self-service terminal based on artificial intelligence voice interaction. First, this paper introduces the meaning and composition of financial self-service terminal integration, then studies the voice interaction principle based on artificial intelligence technology, and designs the integrated structure of financial self-service terminal with voice interaction. After that, this paper makes a series of tests on voice interaction technology, user experience, and the performance of financial self-service terminal. Finally, the test results of voice interaction are as follows: the delay estimation results of voice interaction of the terminal are relatively accurate, and the error points are basically within five sampling points, which indicate that the delay estimation algorithm is practical. The endpoint detection method based on CO complexity can effectively overcome the impact of noise environment on speech endpoint detection system and is suitable for the requirements of robust speech recognition system. Considering that the actual application scenario of voice positioning can judge the speaker’s position and turn to the speaker’s direction during human–computer interaction, the azimuth error is acceptable within a few degrees to meet the application requirements. The direction angle error is acceptable within a few degrees to meet the application requirements. The accuracy of the improved algorithm is improved in intercepting effective speech signals. The terminal has short running time and delay time, small memory, and central processing unit occupation and can meet the needs of users. The speech recognition accuracy of the financial self-service terminal basically reaches more than 80%, which can basically meet the daily needs. (shrink)

Compared with traditional technological innovation modes, green technology innovation is more targeted for low carbon development and critical support for countries worldwide to combat climate change. The impact of green technology innovation on carbon emissions is considered in terms of fixed effect and mediating effect models through industrial structure upgrading. For this purpose, the sample dataset of 30 provincial administrative areas in China from 2008 to 2020 is employed. The results demonstrate that green technology innovation exerts significantly inhibitory effects (...) on carbon emissions, whose conclusion still holds after removing municipalities and replacing the dependent variable. Industrial structure upgrading is vital for green technology innovation to diminish carbon emissions. There is significant regional heterogeneity in the effects of green technology innovation on carbon emissions, i.e., the direct and indirect impact of green technology innovation on carbon emission reduction is significant in the eastern-central area, but its effect is insignificant in the western region. Therefore, it is essential to realize carbon emission reduction by further bolstering green technology innovation and accelerating industrial structure upgrading to fulfill the synergy of technology and structure. (shrink)

Current attention directed at ethical dimensions of data and Artificial Intelligence have led to increasing recognition of the need to secure and maintain public support for uses of people’s data. This is essential to establish a “Social Licence” for current and future practices. The notion of a “Social Licence” recognises that there can be meaningful differences between what is legally permissible and what is socially acceptable. Establishing a Social Licence entails public engagement to build relationships of trust and ensure that (...) practices align with public values. While the concept of the Social Licence is well-established in other sectors – notably in relation to extractive industries – it has only very recently begun to be discussed in relation to digital innovation and data-intensive industries. This article therefore draws on existing literature relating to the Social Licence in extractive industries to explore the potential approaches needed to establish a Social Licence for emerging data-intensive industries. Additionally, it draws on well-established literature relating to trust to examine the relevance of trust, and trustworthiness, for emerging practices in data-intensive industries. In doing so the article considers the extent to which pursuing a Social Licence might complement regulation and inform codes of practice to place ethical and social considerations at the heart of industry practice. We focus on one key industry: Financial Technology. We demonstrate the importance of combining technical and social approaches to address ethical challenges in data-intensive innovation and to establish relationships of trust to underpin a Social Licence for Financial Technology. Such approaches are needed across all areas and industries of data-intensive innovation to complement regulation and inform the development of ethical codes of practice. This is important to underpin culture change and to move beyond rhetorical commitments to develop best practice putting ethics at the heart of innovation. (shrink)

This research aims at establishing the impact of information and communication technologies (ICT) on e-commerce development of industrial enterprises by means of economic and mathematical modelling. The goal was achieved using the following methods: theoretical generalization, analysis and synthesis (to critically analyse the scientific approaches of scientists regarding the expediency of using mathematical models in the context of enterprises’ e-commerce development), target, comparison and grouping (to reveal innovative methodological approach to assessing ICT impact on e-commerce development of industrial enterprises), tabular, (...) analytical and integral method (for summarizing the analysis results of enterprises readiness to implement ICT, ICT use in the activities of industrial enterprises of Ukraine and the analysis of e-commerce development), mathematical modelling (to build a regression model determining impact of changes in ICT use on the market share occupied by industrial enterprises), generalization (to determine promising directions of e-commerce developing of industrial enterprises). The implementation of a comprehensive approach to understanding the importance of ICT influence on e-commerce development of industrial enterprises will ensure acceleration of the digitalization of business processes, will contribute to the speed increase of enterprises response to customer requests, and increase the market share occupied by enterprises. A new vision of directions for developing e-commerce of industrial enterprises is suggested, which are determined by the need for enterprise rebranding, the development of e-commerce tools and technologies, the importance of outsourcing service automation and promotion of subscription trade. ICT is considered as integration factor that determines prospects for e-commerce development of industrial enterprises and contributes to increasing efficiency of online business management. Research results demonstrate that the use of economic and mathematical modelling is an important tool for assessing ICT impact, and its absence can negatively affect the accuracy and validity of online business management. (shrink)

In modern conditions the questions of personnel management, including motivation, acquire new meaning. Particularly given the problems relevant to the service sector, where at the beginning of the XXI century employing more than 60% of the workforce in developed countries. These circumstances determine the need for a modern concept of material and immaterial motivation of service industries. Such factors determine the need for the development modern concept of material and immaterial motivation of service industries staff. To obtain indicated objective during (...) research analyzed the existing concepts and paradigm of staff motivation with highlighting their advantages and disadvantages. The results obtained allowed to establish that scientific and expert community does not have the unified approach to the classification and identification of the most effective ones. Special attention is given to modern developments and approaches to the motivation problem. This fact caused the structure of follow studies, including three interlinked vectors: analysis of the essential content of the fundamental concepts in the field of staff motivation; defining features of employee motivation at the enterprises sphere of services; introduction to the key successful international practices which apply by service companies. In general, the results obtained enabled the author’s model of the modern concept of material and non-material motivation at the enterprises the service sector and the corresponding mechanism for the implementation. (shrink)

This paper focuses on how “Japanese technology” was formed in the Japanese machine tool industry, and presents how Japanese machine tool builders competed in R&D and the innovation process in the domestic and international markets. During the competition for the innovation of computerised numerically-controlled (CNC) tools, drastic changes occurred in the ranking of individual firms. Prior to the transformation, the traditional “Big 5” companies occupied the largest market share. After the innovation, however, the “Big 3” firms which had not (...) been big in size at their origins increased their market share. This paper explains how this change stemmed from different attitudes towards R&D and innovation. (shrink)

This paper reports a study of the main key components of influence on the stability of transportation enterprises in the market. A model for evaluating the effectiveness of innovation activity in the transport industry, which takes into account indicators of expenditures on innovations, has been built. It makes it possible to determine the effectiveness of introduced innovations, which indicates the appropriate level of innovation potential and the ways that the enterprise must take to increase it. The main (...) directions of innovative development of transportation enterprises were investigated. The assessment of the economic stability of transportation enterprises in the market has established that the current state of development of enterprises is characterized by a weak level of their innovative activity. A systematic approach to the introduction of innovative technologies by a transportation enterprise in the market has been devised. This approach makes it possible to determine the required level of enterprise stability and to form a relationship between the level of innovative technologies and their stages of implementation under conditions of environmental variability. This makes it possible to increase competitive advantages, improve the efficiency of production and economic activity of enterprises. The practical implementation of the proposed model for evaluating the effectiveness of innovation activity in the transport industry has been carried out, which made it possible to allocate the most important indicators of innovation activity for the enterprise. These include specific efficiency of innovation; unit costs of innovation; innovative potential of the enterprise (defined as the proportion of own innovative developments). According to the study results, it is determined that the specific efficiency of innovations (SEI) exerts the greatest influence, which, with an increase by 1 %, provides an increase in financial stability by 1.48 %. (shrink)

In our global economy knowledge-based industry is takingmore importance. Recent years have seen the success of anincreasing number of start-up companies, most technology-basedenterprises financed by private persons or companies, or through venture capital funds and public offering. In manyyears, those companies are faced at certain critical momentswith matters involving intellectual property rights, insiderinformation and raising money. These facts all have an ethicaldimension. There is an increasing need for ethical behaviourfrom all parties involved. A code of conduct of all partiesshould (...) be applied. This paper describes the growth processof a company and the valuation of an innovation project. Itwill overview a number of ethical issues, at different stagesin the innovation business, and in the lifetime of a start-upcompany, such as the problems of intellectual property, theconfidentiality of information, the negotiation processbetween the entrepreneur and the financier, the marketingof raising funds and of an IPO, and finally the informationand insider trading. The paper concludes with aplea for increased ethical ethical behaviour and the needfor rules of best practice for all parties: the inventor,the entrepreneur, the financial investor, and other stakeholders. (shrink)

Industrial policy is a highly controversial issue. The European Union (EU) justifies its industrial policy on the grounds of common problems across countries, its capacity to coordinate and reduce duplication of efforts, its capacity to control and limit member-state subsidies to industries, and its mandate for foreign trade and competition policy. Technology policy has been relatively successful in certain fields such as telecommunications or traffic control systems. In other fields, such as microelectronics and computers, the results have been mixed. Formulating (...) a coherent industrial policy remains a highly complicated venture because there are a number of conflicts that are difficult to resolve. This article attempts to review the role and the implementation of industrial and innovation policies in the EU. Moreover, it will attempt to examine and analyze the effects of these policies on convergence and cohesion for the European member-states. (shrink)

Outsourcing is becoming a major option in British business, including the financial services industry, and it raises a number of ethical considerations. The author of this major ethical study contends that “Outsourcing seems to present a particular threat to employees ... because of the factors which have led to outsourcing and the way in which it tends to work.” Mike Henderson is an Associate of the Chartered Institute of Bankers and Senior Lecturer in Financial Services (...) in the School of Financial Studies and Law of Sheffield Hallam University, City Campus, Pond Street, Sheffield S1 1WB, England. (shrink)

Este trabajo está dirigido a fundamentar cómo a través de un proceso de innovación tecnológica se establecieron relaciones entre la universidad, la sociedad y el sector empresarial. La introducción de los productos biológicos en los laboratorios de diagnóstico médico y su impacto en los servicios fue el elemento fundamental que identificó la relación universidad-sociedad, mientras que la transferencia tecnológica de la obtención de biológicos a la unidad productora y comercializadora articuló a la academia con el mundo empresarial. Los modelos seguidos (...) para la gestión de la actividad de innovación le otorgaron al proceso un carácter específico y aseguraron su pertinencia, por lo que constituyó un logro científico-tecnológico. Se demostró un caso peculiar y concreto de fortalecimiento de las capacidades de interacción de las universidades con entidades productivas y de servicios, de modo que se enriqueció la función extensionista del centro de altos estudios. This article is based on a process of technical innovation that allowed establishing a relationship in which the university, society and the managerial sector were involved. The introduction of the biological products in medical diagnosis labs and its impact on services were the main elements that distinguished the university-society relationship, while the technological transfer to the unit of the biologicals obtained, articulated the university and the managerial field. Models put into practice for innovation management granted the process a specific character and ensured its relevance, that´s why it is considered a scientific-technological achievement. The process demonstrated a peculiar case of interaction between the university and production entities. (shrink)

Considering the importance of China’s digital economy, industrial Internet, and high-quality development, this study analyzed China’s urban network from the perspective of the communications technology service industry. Three sub-networks and a comprehensive network were constructed. The density, centrality, and cohesive subgroups of the above network were identified. The results show that: cohesion of urban networks in China is weak and resource sharing is low. From west to east, the urban network forms a multilevel diamond structure in the periphery, a (...) parallelogram structure in the semiperiphery, and a triangle structure in the center. The spatial distribution of cohesive subgroups is scattered, disobeying the first law of geography. By constructing sub-networks and a comprehensive network, the subnetworks that dominate China’s urban networks were identified and their typical characteristics described. This study clarifies the technical support pattern behind China’s digital economy development and industrial internet construction and provides a basis for policy-makers to optimize the country’s high-quality development in the future. (shrink)

Opportunistic behaviors are considered ethically and strategically troublesome since they disrupt otherwise mutually beneficial relationships. Previous literature has shown that firms attempt to protect their investments from opportunism by generating a large amount of patented marginal innovations in domains central to their industry. However, this approach may generate some ethical dilemmas by preventing firms and societies from more radical, collaborative, and much-needed environmental progress. We extend the environmental innovation literature using strategic and ethical lenses to analyze the potential (...) of an alternative, divergent way to provide financial opportunities for a focal firm without aiming to prevent innovative opportunities for competitors. Our longitudinal analysis of 6768 environmental patents from 59 large companies worldwide in the electrical components and equipment industry shows that high levels of innovation intensity, environmental scope, bargaining power, and environmental expertise increase the incidence of patented environmental innovations related to domains in which industry competitors are less focused (i.e., technological divergence). We also show a positive relationship between this divergence and market-based firm performance. Our results suggest that pursuing innovative divergence to avoid opportunism may make ethical and market sense and we also identify the organizational factors that can support these efforts. (shrink)

Starting from the premise that firms are distinct in terms of their capacity to create innovations, this article explores the rationale for R&D cooperation and the choice between alliances that involve information sharing, cost sharing or both. Defining innovative capability as the probability of creating an innovation, it examines firm strategy in a duopoly market, where firms have to decide whether or not to cooperate to acquire a fixed cost R&D infrastructure that would endow each firm with a firm-specific (...) innovative capability. Furthermore, since emerging industries are often characterized by high technological uncertainty and diverse firm focus that makes the exploitation of spillovers difficult, this article focuses on a zero spillover context. It demonstrates that asymmetry has an impact on alliance choice and social welfare, as a function of ex-post market competition and fixed costs of R&D. With significant asymmetry no alliance may be formed, while with similar firms the cost sharing alliance is dominant. Finally, it ascertains the settings under which the equilibrium outcome is distinct from that maximizing social welfare, thereby highlighting some conditions under which public investment in a technology park can be justified. (shrink)

In this paper we aim to show that based on an effective stakeholder management corporations are able to build and maintain three important licences tosuccessfully fulfil their fundamental value creation task, namely the licence to operate, the licence to compete and the licence to innovate. The corporation is regarded as an institution engaged in mobilizing resources for productive uses in order to create wealth with and for its stakeholders. Our concept of the three licences is based on the widely discussed (...) (e.g. Bracken, 2003; Buono, 2003; Caldwell, 2004; Jones, Wicks, & Freeman, 2002; Lamont, 2004; Walsh, 2005) “Stakeholder View” framework by Post, et al. (2002) which concerns the firm’s interactions with its stakeholders. Our concept of the three licences is supported by the results of our qualitative case research in the financial services and the telecommunications industry. (shrink)

Based on the findings of several research studies of professionals in both the property-liability insurance industry and the life insurance industry, the paper makes and supports several important points. First, ethical challenges in the insurance industry involve not only a series of ethical dilemmas frequently faced by those working in the business, but also a variety of factors that hinder those working in the industry as they seek to resolve the ethical dilemmas encountered in the course (...) of their work. Both of these two components of ethical challenges must be understood by those in the financial services industry who will deal with insurance operations in the future. Second, whereas the life insurance business and the property-liability insurance business have traditionally been viewed as being quite different from one another and still are in terms of operations and regulation, the research findings show that they are no longer very different in terms of the key ethical challenges faced by those working in the two segments of the industry. The paper shows how during the past decade the ethical challenges in the property-liability insurance industry have become quite similar to those in the more troubled life insurance industry. (shrink)

Complex adaptation systems are the main development direction of China’s current green innovation research. New material industry is one of the key entry points to accelerate the construction of modern industrial system and promote innovation, green, and efficient development. Under the requirements of China’s current low-carbon development, China’s green innovation system is developing rapidly. Green innovation complicates traditional innovation models and their functions and improves economic development. The purpose of this paper is to study the theoretical analysis framework of (...) applying complex adaptive systems and to analyze and calculate the characteristics of the current status of green innovation systems in multiple industries in China’s manufacturing industry. Analysis is as follows. The experimental group and the control group are set for comparison, and the data are organized by applying complex adaptive system theory and data analysis methods. Experimental data show that the coordinated development of the green innovation systems in various industries in China is not balanced, with a difference of more than three times; the parameters of the various green innovation systems within the industry are unbalanced, and the difference is more than five times. The experimental results show that the green innovation subject can strategically interact by adjusting the ratio of resource allocation through the constructed green innovation system model. The green innovation system with complex adaptive system theory is conducive to the development of the green system. It can save about 23% of green innovation time and improve efficiency by about 15%, to promote the development of green innovation in China. (shrink)

We examine the politics of financial crisis response in Japan and the United States. Many existing accounts of Japan's of the 1990s have emphasized Japan-specific factors, such as structural problems, policy errors, and political dysfunction. We argue that Japan may have been subject to a form of first-mover disadvantage. Like innovation in the private sector, developing effective solutions to novel policy problems requires a messy process of discovery, experimentation, and repeated failure. Much as late-industrializing countries adapted the methods and (...) technologies of early developers, second-movers can apply effective policies demonstrated by first-movers in a more targeted, efficient, and rapid manner. We show that the behavior of Japan and the United States during their respective financial crises is broadly consistent with this theory. In addition, policy adoption in the United States most clearly reflected lessons from Japan in areas where the lessons were considered clear and implementation was less politicized. (shrink)

Evolution of fintech services and the adoption of new emerging technology is what is seen in today’s world. Very few researchers have studies on the factors that affect the adoption of fintech services and how human behavior varies as technology changes. Apart from this, the advancement in mobile phones and the increase in the usage of them have increased the demand of the online financial services. In this paper we have considered and studied factors that have (...) an impact of the adoption of fintech services through convenient sampling. We have studied perceived ease of use, innovation, trust and government support. Through SPSS we have concluded that each of these factors have a positive impact on the adoption of fintech services. Our model is based on TAM and was adopted from our base article. The finding of this research can be used to make improvements in the existing fintech services and also in the development of new services. (shrink)

In the years that have passed since publication of the Club of Rome's seminal report "Limits to Growth," the issues raised in terms of development, resource use and the environment have become ever more pressing. The potential of advances in science and technology to affect all aspects of life, including development, was then little understood. Today's unparalleled burst in scientific and technological creativity has given new options and opportunities to the world economic system. Central to this process is a (...) series of concepts which includes the scientification of technology, by which technology is increasingly generated and developed on scientific bases, the breaking down of interdisciplinary barriers and mankind's new found capacity literally to invent resources, leading to the emergence of whole categories of new materials. These changes make possible a new approach to economic growth, relying on decentralization and flexibility and the selection of technology mixes best suited to different socio-economic and cultural contexts. In parallel, the key importance above all of the information technologies is producing a dematerialization of goods, a trend exemplified by the shift from product oriented to function oriented industries. The new technologies of the 1980s are cross-fertilizing and self-disseminative. They are creating an exceptional number of innovative options in processes, products, services, organization and markets. Mature industrial sectors can undergo a process of rejuvenation to recover competitiveness by the grafting of advanced technologies onto traditional activities. The results are already evident in industrialized countries, such as Italy. The flexibility offered by the new technologies offers perhaps our best hope for a solution to the widening gap between rich and poor nations, contrary to the belief that identifies in advances in science and technology the seeds of a process of polarization dividing the world. The countries of the United States, Japan and Western Europe--the so-called Triad Power--dominate the emerging technologies and their applications. In fact, given the pace of today's technological revolution, developing countries are effectively excluded from active participation in the process of technological change. New technologies are not "off the peg," they have to be learned and controlled, to be introduced into an existing flexible system possessing trained manpower and an adequate capital base. Introduction into the Third World, where these essential conditions are frequently lacking, will not be a painless process. Technology transfer without adaptation is likely to have undesirable cultural and societal disadvantages. North and South are simultaneously experiencing radically different processes of evolution: the former, through restructuring and innovation; the latter, through the drive for more quantitative growth. Continuing stress on quantitative growth carries with it the risk that other goals--environmental quality, even the eradication of poverty--may suffer. Here lies the possibility that unless economic patterns change, today's imbalance between the haves and the have nots may be perpetuated or even consolidated. The countries of the North individually all face problems in addressing these issues. The international banking system is hamstrung with the problems of Third World debt. Primary producers no longer command high prices for their raw materials on world markets and so this source of development funding is also drying up. The need is therefore for a global approach. In each Third World situation, specific needs and requirements must be identified to be tackled via technology blending, whereby a mix of emerging and traditional technologies is selected to raise the quality of output to the levels now demanded by a sophisticated world economy. Another important area is that of energy, together with the worsening environmental and even climatic effects of energy policies. The need is for a long term strategic view to marshall the contribution new technologies can make to improving the lot of mankind in full respect for his environment. Technological change also implies societal change. In labor markets, labor mismatch creates pockets of employment which are difficult to eradicate. Yet, overall, the hope is that expanding economic horizons will create unlimited opportunities for new jobs and new skills. The key is education and training. A feed and feedback mechanism between education and the economy represents an intangible investment in the future. Economic growth, technological innovation, development of culture and society, have always moved together with synergism. Current changes are not so much just physical as conceptual. We are passing from a mechanical (or mechanistic) society to one that can be termed cybernetic. Causality, sequentiality and hierarchy are giving way to a functional interdependence at a systems level. Greater participation will produce more opportunities for self-fulfillment. As old social equilibria collapse, management of social change can be seen to be as important as management of technological change. The technological revolution has deep roots in Western culture. It is a liberating force that can lead to greater cultural enrichment. By understanding the changes now underway, we can ensure that the new pattern of society that emerges from exploitation of the new technologies retains man at its center and so benefits the whole of humanity. (shrink)

Willingness and readiness of people to do their jobs are among the key factors of a successful enterprise. In XXI century intellectual human labour is gaining unprecedented value and is being developed actively. The demand for intellectual labour calls forth an increasing number of jobs and professions that require an extensive preparation, a large number of working places, high level of integration of joint human efforts, growth of social welfare. These trends are becoming ever more pervasive and are spreading widely (...) in service industries, and that explains the rapid development of the latter when compared to the traditional areas of human activity. In its turn, it heightens the need for staff in service companies, supported by significant personnel turnover and a certain shortage of skilled professionals. These circumstances determine the need for developing a new concept of fostering staff motivation at the enterprises in the sphere of services. In order to reach the stated purpose while conducting our research into tourism and hospitality industry, as well as retail chains, we have examined the problems that arise in the process of staff motivation, and studied the foreign practice of motivating staff in hotels. The obtained analysis results enabled us to work out practical recommendations on improvement of the mechanism of tangible and intangible rewards in service companies, which are based on external and internal motivational factors. Additional attention in the article is paid to the statement that financial incentives should be based on key performance indicators (KPI). We give a detailed consideration to the classification of internal motivation incentives of the staff according to the terms of their realization, and give a schematic representation of the performance dynamics of the internal motivation model in service businesses. (shrink)

Entrepreneurship plays an indispensable role in the economic development and poverty reduction of emerging economies like Vietnam. The rapid development of technologies during the Fourth Industrial Revolution (Industry 4.0) has a significant impact on business in every field, especially in the innovation-focused area of entrepreneurship. However, the topic of entrepreneurial activities with technology applications in Vietnam is under-researched. In addition, the body of literature regarding entrepreneurial finance tends to focus on advanced economies, while mostly neglecting the contextual differences in (...) developing nations. Therefore, this research contributes to these topics by investigating the main characteristics of a high potential market for entrepreneurs in Vietnam, which is the English language training market (ELTM). It also aims at indicating the impacts of technology on the entrepreneurial firms within this market, with an emphasis on financing sources. To answer the research questions, this study employs a qualitative analysis and conducts 12 in-depth, semi-structured interviews with entrepreneurs and researchers in the field. The key findings in our study highlight the main contributing factors to the growth of the market, both universally and context-specific for a developing nation like Vietnam. It also lists the leaders in each market segment and the industry’s potential profit margin. The results also show that most entrepreneurs in the ELTM utilized private sources of finance rather than external ones, such as bank loans. It again confirms the idea from previous works that even with the rapid development of the economic and technological landscape, entrepreneurial activities in general barely benefit from additional sources of funding. However, it also points out the distinct characteristics of the ELTM that may influence these financing issues; for example, English training services usually collect revenues from customers before delivering their classes. This is of advantage for entrepreneurs in this area and helps significantly reduce the financial barriers. These findings, which are among the first attempts to contribute to a better understanding of entrepreneurial opportunities in the Industry 4.0 in Vietnam, provide valuable insights for policymakers and entrepreneurs, as well as investors. (shrink)

Outsourcing is becoming a major option in British business, including the financial services industry, and it raises a number of ethical considerations. The author of this major ethical study contends that “Outsourcing seems to present a particular threat to employees... because of the factors which have led to outsourcing and the way in which it tends to work.” Mike Henderson is an Associate of the Chartered Institute of Bankers and Senior Lecturer in Financial Services in (...) the School of Financial Studies and Law of Sheffield Hallam University, City Campus, Pond Street, Sheffield S1 1WB, England. (shrink)

The technological breakthroughs and entrepreneurial adventures of Frank J. Sprague during the transformative years of the early electrical industry. Over the course of a little less than twenty years, inventor Frank J. Sprague achieved an astonishing series of technological breakthroughs--from pioneering work in self-governing motors to developing the first full-scale operational electric railway system--all while commercializing his inventions and promoting them to financial backers and the public. In Engineering Invention, Frederick Dalzell tells Sprague's story, setting it (...) against the backdrop of one of the most dynamic periods in the history of technology. In a burst of innovation during these years, Sprague and his contemporaries--Thomas Edison, Nicolas Tesla, Elmer Sperry, George Westinghouse, and others--transformed the technologies of electricity and reshaped modern life. After working briefly for Edison, Sprague started the Sprague Electric Railway and Motor Company; designed and built an electric railroad system for Richmond, Virginia; sold his company to Edison and went into the field of electric elevators; almost accidentally discovered a multiple-control system that could equip electric train systems for mass transit; started a third company to commercialize this; then sold this company to Edison and retired. Throughout his career, Dalzell tells us, Sprague framed technology as invention, cast himself as hero, and staged his technologies as dramas. He toiled against the odds, scraped together resources to found companies, bet those companies on technical feats--and pulled it off, multiple times. The idea of the "heroic inventor" is not, of course, the only way to frame the history of technology. Nevertheless, as Dalzell shows, Sprague, Edison, and others crafted the role consciously and actively, using it to generate vital impetus behind the process of innovation. (shrink)

The enduring failure of financial institutions to identify and deal with risk events continues to have serious repercussions, whether in the form of small but significant losses or major and potentially far-reaching scandals. Using a mixed-methods approach that combines an innovative version of the classic dictator game to inform prosocial tendencies with the survey-based Theory of Planned Behaviour, we examine the risk-escalation behaviour of individuals within a large financial institution. We discover evidence of purely selfish behaviour that explains (...) the lack significance in pressure to adhere to the Subjective Norms of colleagues around intention to report risks. A finding that has potentially important implications for efforts to instil a high-error management climate and incentivise risk reporting within organisations where risk, if ignored or unchecked, could ultimately have consequences that extend far beyond the institutions themselves. (shrink)

Technology innovation has changed the patterns with its advanced features for travel and tourism industry during the outbreak of COVID-19 pandemic, which massively hit tourism and travel worldwide. The profound adverse effects of the coronavirus disease resulted in a steep decline in the demand for travel and tourism activities worldwide. This study focused on the literature based on travel and tourism in the wake global crisis due to infectious virus. The study aims to review the emerging literature critically to (...) help researchers better understand the situation. It valorizes transformational affordance, tourism, and travel industries impacts posed by the virus COVID-19. The study proposed a research model on reviving the international tourism activities post COVID-19 pandemic to gain sustainable development and recovery. The scholars have debated seeking the best possible ways to predict a sustainable recovery of travel, tourism, and leisure sectors from the devastating consequences of coronavirus COVID-19. In the first phase, the study describes how the current pandemic can become transformational opportunities. It debates the situation and questions related to the emergence of the COVID-19 outbreak. The present research focuses on identifying fundamental values, organizations, and pre-assumptions related to travel and tourism revival and help academia and researchers to a breakthrough in initiating the frontiers based on research and practice. This study aims at exploring the role of technological innovation in the crisis management of COVID-19 tourism impacts, tourists’ behavior, and experiences. The travel and tourism industry’s main stakeholders include tourism demand and organizations that manage tourists’ destinations and policymakers. They have already experienced the stages of responses, recovery, and resetting tourism recovery strategies. The study provides valuable insight into the coronavirus consequences on travel and tourism and practical implications for global tourism and academic research revitalization. (shrink)