Submit to Sustainability Review for Sustainability Propose a Special Issue

Journal Browser

Digital Revolution in Sustainable Business Models and Finance Management

Special Issue Editors
Special Issue Information
Keywords
Published Papers

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

Deadline for manuscript submissions: closed (31 January 2023) | Viewed by 50580

Printed Edition Available!
A printed edition of this Special Issue is available here.

Special issue Digital Revolution in Sustainable Business Models and Finance Management book cover image

Share This Special Issue

Special Issue Editors

Dr. Adam Jabłoński

E-Mail Website
Guest Editor

1. Institute of Management and Quality, WSB University in Poznan, 61–895 Poznan, Poland
2. OTTIMA Plus, 40-594 Katowice, Poland
Interests: business models; strategic management; sustainable business; performance management; social and digital economy; railway transport
Special Issues, Collections and Topics in MDPI journals

Prof. Marek Jabłoński

E-Mail Website
Guest Editor

Scientific Institute of Entrepreneurship and Innovation, Faculty in Chorzów, WSB University in Poznań, Poland
Interests: value management; business models; sustainable business; sustainable business models; performance management; corporate social responsibility; value-based management
Special Issues, Collections and Topics in MDPI journals

Prof. Dariusz Zarzecki

E-Mail Website
Guest Editor

Department of Investment and Enterprise Valuation, Institute of Management and Investment, University of Szczecin, Poland
Interests: business valuation; assessment of investment effectiveness; financial analysis; feasibility studies; enterprise restructuring; business consulting

Special Issue Information

Dear Colleagues,

At present, the digital economy is creating a new approach to sustainable development. Especially, this relates to the transformation of the traditional economy by the influence of digitalization on finance management processes. The digital economy is affecting changes in resource management processes. Dynamic digital transformation processes are currently taking place which influence the shaping of new business models. Existing business models are changing, particularly in the context of their life cycle [1]. The new economy means that social factors become more important in terms of creating value for people and the natural environment [2]. Trust for financial institutions, which is also a factor in sustainable business models, is an important criterion for business research [3]. The economy of the irresponsible use of natural resources has been heavily criticized for years [4]. Societies do not accept business models that have a negative impact on the environment. The use of Earth resources should be responsible, especially in the context of investments. Digitalization in financial management processes and investments is a key challenge in theory and practice [5,6]. The impact of the digital revolution on the financial management strategies of enterprises and financial institutions has not yet been widely studied. Additionally, the phenomenon of digitalization in terms of its impact on shaping social business models should be subjected to extensive scientific research. Digitalization is changing the current order and balance of power in global business [7]. Digitalization also means that traditional business model concepts need to be redefined [8]. Ecological aspects and their growing role in financial decisions require analysis and empirical verification. The digitalization of financial management processes as it relates to sustainability has not yet been widely analyzed and studied. Digitalization changes the current view of banking services and investment financing [9]. It changes the current principles on which the processes of social economy are based [10]. Therefore, we believe that this topic requires extensive scientific research in order to develop a new perspective. It is necessary to collect and verify the current state of scientific research in this area. The purpose of this Special Issue is to present the results of research on the current trends and challenges related to the digital revolution in financial management for sustainable development, an issue that requires extensive research and analysis.

On the basis of the above-mentioned assumptions, the key issues to answer are the following:

How does the digital revolution affect sustainable financial management strategies?
How does the digital revolution affect the shape of sustainable business models?
Does digital transformation support the assumptions of the Triple Bottom Line concept?
Does the digital economy have a positive impact on ecological aspects?
Does digitalization in financial management processes matter for the development of the concept of sustainability?
Do digital technologies increase the chances of optimizing the use of natural resources in economic processes?
How is trust in financial institutions changing in the context of the development of the digital economy?

References:

Jabłoński, A., Jabłoński. (2016) M. Research on Business Models in their Life Cycle, Sustainability, 2016, 8.
Schaltegger, S., Lüdeke-Freund, F., Hansen, (2016). E.G. Business Models for Sustainability - A Co-Evolutionary Analysis of Sustainable Entrepreneurship, Innovation, and Transformation, Organization & Environment, vol. 29, First Published February 25, 2016.
Jabłoński A., Jabłoński M. (2019), Trust as a Key Factor in Shaping the Social Business Model of Water Supply Companies, Sustainability, 11(20).
Elkington, J. (1999) Cannibals with forks: the triple bottom line of 21. century business, Oxford: Capstone.
Jabłoński A., Jabłoński M. (2018), Value Migration to the Sustainable Business Models of Digital Economy Companies on the Capital Market. Sustainability, 10(9).
Jabłoński A., Jabłoński M. (2019), Social Factors as a Basic Driver of the Digitalization of the Business Models of Railway Companies, Sustainability, 11(12).
Jabłoński A., Jabłoński M., Social Business Models in the Digital Economy, New Concepts and Contemporary Challenges, Palgrave Macmilllan, 2020.
Dohrmann S, Raith M, Siebold N. (2015), Monetizing Social Value Creation – A Business Model Approach, Entrep. Res, 5(2).
Carbó-Valverde S. (2017), The Impact on Digitalization on Banking and Financial Stability," Journal of Financial Management, Markets and Institutions, Società editrice il Mulino, issue 1.
Gabor D, Heather Brooks S, (2016), The digital revolution in financial inclusion: international development in the fintech era, New Political Economy 22(4):1-14.

Prof. Adam Jabłoński
Prof. Marek Jabłoński
Prof. Dariusz Zarzecki
Guest Editors

Manuscript Submission Information

Manuscripts should be submitted online at www.mdpi.com by registering and logging in to this website. Once you are registered, click here to go to the submission form. Manuscripts can be submitted until the deadline. All submissions that pass pre-check are peer-reviewed. Accepted papers will be published continuously in the journal (as soon as accepted) and will be listed together on the special issue website. Research articles, review articles as well as short communications are invited. For planned papers, a title and short abstract (about 100 words) can be sent to the Editorial Office for announcement on this website.

Submitted manuscripts should not have been published previously, nor be under consideration for publication elsewhere (except conference proceedings papers). All manuscripts are thoroughly refereed through a single-blind peer-review process. A guide for authors and other relevant information for submission of manuscripts is available on the Instructions for Authors page. Sustainability is an international peer-reviewed open access semimonthly journal published by MDPI.

Please visit the Instructions for Authors page before submitting a manuscript. The Article Processing Charge (APC) for publication in this open access journal is 2400 CHF (Swiss Francs). Submitted papers should be well formatted and use good English. Authors may use MDPI's English editing service prior to publication or during author revisions.

Keywords

sustainable management
digital revolution
digital business models
sustainable business models
digital economy
sustainable finance management
stock exchange
financial market
public sector
theory of sustainable value

Published Papers (11 papers)

Download All Papers

Research

Jump to: Review

18 pages, 517 KiB

Open AccessArticle

Using Network DEA to Explore the Effect of Mobile Payment on Taiwanese Bank Efficiency

by Bao-Ngoc Tong, Cheng-Ping Cheng, Lien-Wen Liang and Yi-Jun Liu

Sustainability 2023, 15(8), 6344; https://0-doi-org.brum.beds.ac.uk/10.3390/su15086344 - 07 Apr 2023

Cited by 2 | Viewed by 1351

Abstract

In order to explore the potential influence of new mobile payment services on the Ephesus model developed by Kao and Hwang (2008), we investigated the relative performance of 19 Taiwanese banks from 2018 to 2021. The network efficiency was divided into two parts: management efficiency and profitability efficiency. Only one bank achieved total efficiency from 2019 to 2021. The stage efficiencies showed increments during the first three years (2018–2020), but they declined in 2021. Most banks had low efficiency in the management stage and high efficiency in the profitability stage, suggesting that there are weaknesses in the management of physical resources but high awareness that mobile payment services can be exploited to achieve high profitability. Our results prove that mobile payment is a potential and profitable new service that Taiwanese banks should take advantage of. Comparing the results between the CCR model and the NDEA model, we observed that the NDEA model has more explanatory power, as it provides insight into the internal structure of the working process of Taiwanese banks. Full article

(This article belongs to the Special Issue Digital Revolution in Sustainable Business Models and Finance Management)

► Show Figures

Figure 1

16 pages, 815 KiB

Open AccessArticle

Value-Creation Efficiency as a Decision-Making Basis and Its Assessment in the Financial Management of Energy Companies: Evidence from the Polish Capital Market

by Wojciech Ćwięk, Andrzej Jaki, Łukasz Popławski and Tomasz Rojek

Sustainability 2023, 15(2), 1622; https://0-doi-org.brum.beds.ac.uk/10.3390/su15021622 - 13 Jan 2023

Viewed by 1301

Abstract

A study of the efficiency of the energy companies that are listed on the Polish capital market, which will be the object of the analysis in this paper, is focused on assessing the degree of accomplishment of their basic financial objectives, namely, the maximization of their market values. The main research methods that are used in the article are methods for analyzing and evaluating the literature (in order to present the current scientific achievements in the field under study) and descriptive statistics and mathematical statistical methods for analyzing the interdependence of the phenomena (used to characterize and compare the analyzed energy-sector companies, as well as to quantify the determinants of the value-creation efficiency of these companies). This article is focused on the conditions and problems that are related to the decision-making processes that are aimed at increasing efficiency in the area of building enterprise-value. These require the use of tools for efficiency measurement that enable management to quantify and assess changes in an enterprise’s market value and the efficiency of its creation. Within the conducted research, it has also been proven that this is the market perspective that is of key significance from the point of view of the criteria of making financial management decisions. The market perspective reflects the expectations of the majority of company stakeholders, to the fullest. The study showed that the allocation of capital in the listed energy companies during the period of 2014–2020 was subject to a relatively high risk of losing the economic value of the invested capital. In terms of asset value, dividing the studied group of companies into portfolios of two groups of companies additionally showed that the volatility of the market and equity returns for the smaller companies was higher than it was for the larger companies. Full article

(This article belongs to the Special Issue Digital Revolution in Sustainable Business Models and Finance Management)

► Show Figures

Figure 1

18 pages, 672 KiB

Open AccessArticle

Application of the DEA Method for Evaluation of Information Usefulness Efficiency on Websites

by Michał Nowakowski and Dariusz Porębski

Sustainability 2022, 14(21), 13769; https://0-doi-org.brum.beds.ac.uk/10.3390/su142113769 - 24 Oct 2022

Cited by 1 | Viewed by 1120

Abstract

The article presents analysis and evaluation of information usefulness efficiency for recipients with secondary and higher education using the example of information and shopping websites. Different levels of quality and information usefulness efficiency have an impact on different ways of processing information by users which, in turn, may result in different consumer behavior and their decisions. The study describes the basic methodological assumptions, the research evaluation procedure of information usefulness efficiency, and the forms of informational content and various forms of information presentation and visualization, as well as the results of data analysis from the study conducted on a group of respondents. In order to determine the factors that have the greatest impact on the perception of information usefulness on websites by users, the data obtained from the study using various methods, such as online questionnaire, usability testing and heuristic analysis, were analyzed using the DEA method, which is usually used for the analysis and evaluation of efficiency. The results of the research presented in this article can be useful in creating assumptions for methods of content presentation and visualization of various forms of content building for the needs of different user groups for information and business websites. Full article

(This article belongs to the Special Issue Digital Revolution in Sustainable Business Models and Finance Management)

► Show Figures

Figure 1

20 pages, 2049 KiB

Open AccessArticle

360° Retail Business Analytics by Adopting Hybrid Machine Learning and a Business Intelligence Approach

by Abdulmajeed Alqhatani, Muhammad Shoaib Ashraf, Javed Ferzund, Ahmad Shaf, Hamad Ali Abosaq, Saifur Rahman, Muhammad Irfan and Samar M. Alqhtani

Sustainability 2022, 14(19), 11942; https://0-doi-org.brum.beds.ac.uk/10.3390/su141911942 - 22 Sep 2022

Cited by 3 | Viewed by 3090

Abstract

Business owners and managers need strategic information to plan and execute their decisions regarding business operations. They work in a cyclic plan of execution and evaluation. In order to run this cycle smoothly, they need a mechanism that should access the entire business performance. The sole purpose of this study is to assist them through applied research framework-based analysis to obtain effective results. The backbone of the purposed framework is a hybrid mechanism that comprises business intelligence (BI) and machine learning (ML) to support 360-degree organization-wide analysis. BI modeling gives descriptive and diagnostic analysis via interactive reports with quick ad hoc analysis which can be performed by executives and managers. ML modeling predicts the performance and highlights the potential customers, products, and time intervals. The whole mechanism is resource-efficient and automated once it binds with the operational data pipeline and presented results in a highly efficient manner. Data analysis is far more efficient when it is applied to the right data at the right time and presents the insights to the right stakeholders in a friendly, usable environment. The results are beneficial to viewing the past, current, and future performance with self-explanatory graphical interpretation. In the proposed system, a clear performance view is possible by utilizing the sales transaction data. By exploring the hidden patterns of sales facts, the impact of the business dimensions is evaluated and presented on a dynamically filtered dashboard. Full article

(This article belongs to the Special Issue Digital Revolution in Sustainable Business Models and Finance Management)

► Show Figures

Figure 1

23 pages, 2349 KiB

Open AccessArticle

Biometrics Innovation and Payment Sector Perception

by Barbara Mróz-Gorgoń, Wojciech Wodo, Anna Andrych, Katarzyna Caban-Piaskowska and Cyprian Kozyra

Sustainability 2022, 14(15), 9424; https://0-doi-org.brum.beds.ac.uk/10.3390/su14159424 - 01 Aug 2022

Cited by 7 | Viewed by 3493

Abstract

This paper presents an analysis of innovations in the biometrics market, which have started to play a very important role in personal identification and identification systems. The aim of the study was to analyze current customs and opinions regarding payment methods, as well as to identify threats and opportunities for new biometric solutions in this area. First, the history of the biometrics market is presented. Acceptance patterns of new technologies are explored and modified. The authors used literature reviews, qualitative research (focus groups), and quantitative research (questionnaire survey) as methods. The main value and importance of biometrics is the uniqueness of biometric patterns (e.g., face, fingerprint, iris, etc.), which takes the security of these systems to a new level. The results of the quantitative study based on the qualitative survey show positive verification of the hypothesized reasons; e.g., importantly, that the age of potential users of biometric payments influences the fear about personal data. Fear of losing personal data affects the perceived safety of biometric payments. Perceived security has a very strong influence on attitudes towards biometric payments, which is the strongest predictor of behavioral intention to use biometric payments. Full article

(This article belongs to the Special Issue Digital Revolution in Sustainable Business Models and Finance Management)

► Show Figures

Figure 1

20 pages, 1083 KiB

Open AccessArticle

Exploration of Lean Management Methods Used in Shared Services Centers, Drivers and Barriers to Process Selection for Improvements in the Light of Risk Management and ESG Reporting

by Zuzanna Zaporowska and Marek Szczepański

Sustainability 2022, 14(8), 4695; https://0-doi-org.brum.beds.ac.uk/10.3390/su14084695 - 14 Apr 2022

Cited by 1 | Viewed by 4622

Abstract

This paper aims to study how processes are selected for improvements in shared services centers (SSCs), and if the risk management aspect is considered during process improvements. Lean management has become a highly regarded platform for process improvement within organizations with the focus being on waste reduction and value added at the customer level. As a leading destination of SSCs, Poland has been seen implementing this approach since at least 2015 with the main benefit being cost reduction. This philosophy opens the door to identifying potential waste reduction and ongoing efficiencies of processes that have been migrated to SSCs. With the identification of the research need, firstly, a targeted literature review on tools and models of process selection for improvements was performed. The second step entails in-depth interviews with lean management experts, surveys with detailed questions in the area of lean management implementation, and finally a case study on measurements of testing the effectiveness of applying lean management methodology. The findings present drivers and barriers to selecting of processes subject to lean management. Although lean management activities are strongly supported by risk management experts, there is no synergy between the two streams causing the need for further research in SSCs. Full article

(This article belongs to the Special Issue Digital Revolution in Sustainable Business Models and Finance Management)

► Show Figures

Figure 1

32 pages, 32729 KiB

Open AccessArticle

FabLabs: The Road to Distributed and Sustainable Technological Training through Digital Manufacturing

by María-Elena García-Ruiz and Francisco-Javier Lena-Acebo

Sustainability 2022, 14(7), 3938; https://0-doi-org.brum.beds.ac.uk/10.3390/su14073938 - 26 Mar 2022

Cited by 9 | Viewed by 2971

Abstract

The fast expansion of digital culture has fostered the creation of makerspaces such as fabrication laboratories (FabLabs) that, thanks to their flexibility and their use of open source tools, strengthen the sense of community and produce true transformations within those communities. Despite their relevance, few studies focus on the characterization of these environments. This paper presents the results of the FabLab Global Survey, aimed at understanding the characteristics of FabLabs through the visions of their managers, or “FabManagers”. The results show an enormous diversity of approaches within the FabLab movement that cannot be extrapolated to a single characteristic element, but that allow its global compression. Their properties reveal them as transforming elements that eliminate technological and cultural barriers, empowering user communities and optimizing learning processes regarding digital technology. FabLab activities allow not only economic and industrial development thanks to innovative projects, but also a digital technology approach for young students and the inclusion of minorities at risk, thus eliminating old cultural and social barriers. Full article

(This article belongs to the Special Issue Digital Revolution in Sustainable Business Models and Finance Management)

► Show Figures

Figure 1

27 pages, 365 KiB

Open AccessArticle

Business Model Disclosure in the Reporting of Public Companies—An Empirical Study

by Aleksandra Szewieczek, Beata Dratwińska-Kania and Aleksandra Ferens

Sustainability 2021, 13(18), 10088; https://0-doi-org.brum.beds.ac.uk/10.3390/su131810088 - 09 Sep 2021

Cited by 8 | Viewed by 2649

Abstract

Traditional financial reporting primarily discloses information about assets, equity, liabilities and financial situation of an enterprise. Simultaneously, socio-economic changes are prompting enterprises to implement business reporting towards disclosing activities for sustainable development and information about the business model in non-financial reporting. Shaping of an enterprise’s business model is carried out in the spirit of sustainable development, which is beginning to dominate the strategies of many large enterprises. At the same time, the concept of the business model and its reporting have still not been characterized in detail or standardized, which limits transparency and the usefulness of information. These phenomena provided an incentive to undertake the research on the business model reporting. The overall goal of this study is to expand research on disclosures about the business model in the corporate reporting of Polish listed companies, as well as to indicate the degree and directions of development of this subject against the background of the accounting system. The study also addresses the epistemological goal by entering the discussion on reporting about the business model. The research uses the financial statement content analysis method and the statistical method (Spearman’s correlation). The scope of disclosures about the business model are examined in integrated reports, consolidated reports, management reports, non-financial data reports and CSR reports of Polish companies listed on the stock market. This information is examined according to its four main components: inputs, business activities, outputs and outcomes. The correlation between the number of audited disclosures and selected economic and similar parameters characterizing enterprises (total assets, performance, board, EBITda, equity and liabilities) is also studied. The research reveals that entities preparing an integrated report demonstrate a greater number of disclosures of business model components in selected economic categories than entities that do not prepare such a report. Thus, the companies preparing an integrated report follow the mainstream of stakeholder theory, opting for a more descriptive reporting approach, accessible to a wider group of users. Moreover, business model information is often reported in a highly random manner. Simultaneously, descriptive forms of business model disclosure prevail over numerical ones, although not to a large degree. The findings also confirm that there is a positive correlation between the detail of disclosures about the business model and selected economic parameters of an enterprise (the strongest with total assets, board and EBITda). Thus, it becomes possible to recognize that large enterprises with a strong and stable structure of assets follow specific, more detailed reporting patterns aimed at sustainable development of reporting. At the same time, they are more likely to expand the scope of disclosures compared to smaller enterprises. This investigation responds to the interest of enterprises and other stakeholders in the reporting spectrum by increasing market information efficiency and transparency. Findings can also be used by standards setters, while providing new rules and regulations. Full article

(This article belongs to the Special Issue Digital Revolution in Sustainable Business Models and Finance Management)

20 pages, 441 KiB

Open AccessArticle

The Degree of Dissemination of the Idea of Sustainable Development in Polish Housing Cooperatives in the Light of Empirical Research

by Aneta Brzeska and Sławomir Jędrzejewski

Sustainability 2021, 13(10), 5481; https://0-doi-org.brum.beds.ac.uk/10.3390/su13105481 - 13 May 2021

Cited by 1 | Viewed by 1693

Abstract

The cooperative movement was, in a way, the forerunner of the concept of corporate social responsibility (CSR), which is due to the fact that they operate on the basis of cooperative values such as democracy, equality, solidarity, membership and social responsibility, concern for the local community. An integral part of the implementation of corporate social responsibility is the publication of sustainability reports which are currently not published by Polish housing cooperatives. The aim of this article has been defined as the identification and assessment of the idea of sustainable development implemented on the basis of General Standard Disclosures and Specific Standard Disclosures indicators presented in the reporting of housing cooperatives compliant with the Global Reporting Initiative (GRI) G4 Guidelines on Sustainability Reporting. The research used the method of literature analysis and the method of observation, as well as a comparative analysis of the information disclosures presented by the housing cooperatives studied. The obtained research results confirmed the cognitive value of non-financial reports and disclosures of information on websites in the assessment of the implementation of the sustainable development strategy. The findings have signaled the need to disseminate the idea of CSR reports among housing cooperatives and to make their preparation mandatory. Full article

(This article belongs to the Special Issue Digital Revolution in Sustainable Business Models and Finance Management)

► Show Figures

Figure 1

22 pages, 1627 KiB

Open AccessArticle

Toward Cognitive Management Accounting

by Olga Pilipczuk

Sustainability 2020, 12(12), 5108; https://0-doi-org.brum.beds.ac.uk/10.3390/su12125108 - 23 Jun 2020

Cited by 9 | Viewed by 5356

Abstract

This paper examines the impact of cognitive technologies in management accounting. The purpose of the research was to create the current management accountant skills model. The main contributions of this paper are the literature study of the future of management accounting, the study of the impact of cognitive technologies on management accounting, the labor market research, and the current management accountant skills model. The purpose of the literature study was to highlight the opportunities and challenges of the application of cognitive technologies to management accounting and the role of cognitive abilities in the management accountant profession. The labor market study was conducted in order to analyze the impact of cognitive technologies on the management accountant profession and identify the core skills required. The paper fulfills the research gap regarding the impact of cognitive information technologies on management accounting and the management accountant profession in terms of smart and sustainable organization conception. The number of job positions with cognitive analytic skills, big data skills, cognitive abilities, and additional skills and competencies was identified. Although the research reveals differences in the demand for skills and abilities among the studied countries, the common skills model for managerial accountants was successfully created. Full article

(This article belongs to the Special Issue Digital Revolution in Sustainable Business Models and Finance Management)

► Show Figures

Figure 1

Review

Jump to: Research

13 pages, 8915 KiB

Open AccessReview

Business Intelligence: Business Evolution after Industry 4.0

by Carlos Andrés Tavera Romero, Jesús Hamilton Ortiz, Osamah Ibrahim Khalaf and Andrea Ríos Prado

Sustainability 2021, 13(18), 10026; https://0-doi-org.brum.beds.ac.uk/10.3390/su131810026 - 07 Sep 2021

Cited by 73 | Viewed by 18744

Abstract

Industry 4.0 is a set of technologies that companies require to promote innovation strategies and obtain a rapid response in dynamic markets. It focuses mainly on interconnectivity, digital technology, predictive analytics and machine learning to revolutionize the way companies operate and develop. Therefore, this article proposes and motivates the implementation of Industry 4.0 in organizations. Studying the state of the art and reviewing the current situation of business intelligence (BI) technology, the way it has positively impacted organizations at the economic and business level in terms of decision-making and some success stories implemented in different business, academic, social and governmental environments. Moreover, it addresses the future expected for Industry 4.0 primarily in BI and how companies should face this revolution. This article provides knowledge contribution about the current state and positive consequences of Industry 4.0, and high development in technology when implemented in the organization and the harmonization between production and intelligent digital technology. Full article

(This article belongs to the Special Issue Digital Revolution in Sustainable Business Models and Finance Management)

► Show Figures