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Sustainable Technology and Business Innovations: Decision-Making under Uncertainty and Information Asymmetry

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

Deadline for manuscript submissions: closed (31 August 2021) | Viewed by 59458

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Special Issue Editors

Prof. Dr. Gwo-Hshiung Tzeng

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Guest Editor

College of Public Affairs, National Taipei University, New Taipei City 23741, Taiwan
Interests: technological management; energy; environment; transportation systems/investment; logistics; location selection; urban planning; tourism; electronic commerce; global supply chains
* Distinguished Chair
Special Issues, Collections and Topics in MDPI journals

Prof. Dr. Kao-Yi Shen

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Guest Editor

Department of Banking and Finance, Chinese Culture University (SCE), 55, Hwa-Kang Road, Yang-Ming-Shan, Taipei 11114, Taiwan
Interests: multiple criteria decision making (MCDM); fuzzy set theory; rough set theory; machine learning; business analytics; fundamental analysis; equity evaluation; technical analysis
Special Issues, Collections and Topics in MDPI journals

Prof. Shih-Wei Liao

E-Mail Website
Guest Editor

National Taiwan University, Taiwan
Interests: blockchain and AI big data; fintech; virtual machines and compilers for languages such as smart contract languages

Special Issue Information

Dear Colleagues,

Nowadays, the advancements of various new technologies are driving the developments of businesses, transforming or replacing conventional industries by their disruptive innovations. Examples are the internet of things (IoTs), artificial intelligence (AI), machine learning, big data analytics, and blockchain. However, those developments are at the cost of controversial privacy infringement, inappropriate business governance, or even scams. How to assess, monitor, manage, or regulate those influential technologies is a challenging and imperative task. Investors, consumers, and the other stakeholders require a well-devised mechanism (or system) to mitigate the unfavorable consequences, brought by those innovations, for sustainable developments.

Thus, we hope to invite studies that address the abovementioned issues. We do not confine the scope to business. Research about nonprofit or government-related issues is also welcome. Aside from application studies, we still accept theoretical modeling and review papers related to this direction. The main topics are as follows (but not limited to):

Technology or Business Innovations
Fintech Applications
Sustainable Ecosystem
Sustainable Business Development
Blockchain
Cryptocurrency
Token Economy
Big Data
Artificial Intelligence (AI)
Machine Learning
Soft Computing (e.g., Fuzzy Set and Rough Set theories)
Corporate Governance
Information Governance
Risk Management

Prof. Gwo-Hshiung Tzeng
Prof. Kao-Yi Shen
Prof. Shih-Wei Liao
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

business sustainability
technology innovation
sustainable developments
cloud computing
internet of things
artificial intelligence
big data
blockchain
fintech
Token Economy
corporate governance
corporate social responsibility
information security
risk management

Published Papers (12 papers)

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Research

20 pages, 50214 KiB

Open AccessArticle

Blockchain-Based Traceability for Anti-Counterfeit in Cross-Border E-Commerce Transactions

by Heongu Lee and Changhak Yeon

Sustainability 2021, 13(19), 11057; https://0-doi-org.brum.beds.ac.uk/10.3390/su131911057 - 06 Oct 2021

Cited by 13 | Viewed by 4646

Abstract

Cross-border e-commerce, involving international product transactions via online and mobile platforms, is growing at a dramatic rate around the globe. One of the main concerns of brand firms is preventing counterfeit products from being sold under their names on e-commerce platforms. Counterfeit goods not only create economic losses to both the supply and demand sides, but also undermine efforts to improve sustainability. Proliferating counterfeits harm the brands of supply firms and trust in selling e-commerce platforms. In addition, they discourage participants in the supply chain from investing in social and environmental sustainability. If end-customers have access to detailed and comprehensive product information with a traceability system that can help overcome information uncertainty and asymmetry, losses can be prevented. The result of the pilot test has shown that securely shared in-depth product information among supply chain stakeholders from the supply side to end-customers can help prevent counterfeit goods from proliferating further by enabling consumers to determine the authenticity of products and report forgeries before paying. Full article

(This article belongs to the Special Issue Sustainable Technology and Business Innovations: Decision-Making under Uncertainty and Information Asymmetry)

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22 pages, 1243 KiB

Open AccessArticle

Hybrid Decision Model for Evaluating Blockchain Business Strategy: A Bank’s Perspective

by Nien-Ping Chen, Kao-Yi Shen and Chiung-Ju Liang

Sustainability 2021, 13(11), 5809; https://0-doi-org.brum.beds.ac.uk/10.3390/su13115809 - 21 May 2021

Cited by 12 | Viewed by 3121

Abstract

Banks attempt to invest in emerging financial technology (FinTech), such as blockchain, to enhance competitiveness. There is a great deal of literature on the technical and legal aspects of blockchain. However, there is little specific guidance on how banks can apply a holistic model to evaluate the blockchain-based business. This study proposes a hybrid decision model with confidence-weighted fuzzy assessments to address this valuable research topic. Supported by a group of seasoned experts, five major blockchain-based business models are evaluated for a domestic bank in Taiwan. The key findings contribute to understanding the importance of the involved factors and identifying the ideal business strategy for the bank. The result suggests that the most crucial dimension is policies and regulations, not the technical capability of banks. Full article

(This article belongs to the Special Issue Sustainable Technology and Business Innovations: Decision-Making under Uncertainty and Information Asymmetry)

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17 pages, 1890 KiB

Open AccessArticle

Managing Uncertainty in AI-Enabled Decision Making and Achieving Sustainability

by Junyi Wu and Shari Shang

Sustainability 2020, 12(21), 8758; https://0-doi-org.brum.beds.ac.uk/10.3390/su12218758 - 22 Oct 2020

Cited by 20 | Viewed by 5882

Abstract

Artificial intelligence (AI) has been applied to various decision-making tasks. However, scholars have yet to comprehend how computers can integrate decision making with uncertainty management. Obtaining such comprehension would enable scholars to deliver sustainable AI decision-making applications that adapt to the changing world. This research examines uncertainties in AI-enabled decision-making applications and some approaches for managing various types of uncertainty. By referring to studies on uncertainty in decision making, this research describes three dimensions of uncertainty, namely informational, environmental and intentional. To understand how to manage uncertainty in AI-enabled decision-making applications, the authors conduct a literature review using content analysis with practical approaches. According to the analysis results, a mechanism related to those practical approaches is proposed for managing diverse types of uncertainty in AI-enabled decision making. Full article

(This article belongs to the Special Issue Sustainable Technology and Business Innovations: Decision-Making under Uncertainty and Information Asymmetry)

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14 pages, 406 KiB

Open AccessArticle

A Decision-Making Model for Adopting Al-Generated News Articles: Preliminary Results

by Soyoung Kim and Boyoung Kim

Sustainability 2020, 12(18), 7418; https://0-doi-org.brum.beds.ac.uk/10.3390/su12187418 - 09 Sep 2020

Cited by 6 | Viewed by 3154

Abstract

This study was conducted to present a consumer acceptance model for artificial intelligence (AI)-generated news articles in review of the most significant factors in the context of accepting AI-generated news articles. To this end, a survey was conducted regarding five key factors among individuals handling news production at media organizations who were familiar with AI-related news: benefits of technology utilization, recognized values, media reliability, content quality, and information perception. These factors were classified into 19 specific evaluation items in order to determine relative importance. According to the results of pairwise comparison analysis among elements through the analytic hierarchy process, hereunder referred to as AHP (analytic hierarchy process), it turned out that the importance of media reliability and content levels was relatively high, while the importance of recognized values and information perception was relatively low. It also turned out that among 19 specific items, the importance of institutional reliability, which was a subordinate item under media reliability, was of utmost value. Even if news articles were based on AI technology, their readers were more likely to be affected by reliability, which is a major attribute of journalism, than technical factors. Full article

(This article belongs to the Special Issue Sustainable Technology and Business Innovations: Decision-Making under Uncertainty and Information Asymmetry)

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22 pages, 1037 KiB

Open AccessArticle

A Hybrid MADM Model for Product Design Evaluation and Improvement

by Tien-Li Chen, Chin-Chuan Chen, Yen-Ching Chuang and James J. H. Liou

Sustainability 2020, 12(17), 6743; https://0-doi-org.brum.beds.ac.uk/10.3390/su12176743 - 20 Aug 2020

Cited by 18 | Viewed by 2984

Abstract

Global warming and climate change are the most pressing issues in the world. This is the inevitable result of human beings pursuing a better quality of life and materials. If the green design concept is used in the design and manufacture of products, the impact of production on the environment will be greatly reduced. Because of this, green product design assessment and improvement activities play an important role in achieving the 2030 sustainable development goals. Product design is the forefront of the entire product development process, and it plays a very critical role. The purpose of this study is to develop a decision-making model for helping decision makers to evaluate and improve the performance of product design systematically. The model combines the design standard of the iF world design guide and multi-attribute decision-making methods. First, the DEMATEL-based analytic network process is used to establish the influential relationship and weights of attributes. Next, the VlseKriterijumska Optimizacija I Kompromisno with aspiration-level method is used to obtain the gap between each evaluation attribute and the aspiration level of each design. Finally, this evaluation result uses the influential network relationship map (INRM) to propose various improvement strategies with causal influence. This study uses products from a Taiwanese furniture design company as an empirical case, which is a leading brand and benchmark in Taiwan’s furniture industry. The research results show that the proposed model can help decision makers to choose the most appropriate design scheme (i.e., the design with the smallest gap from expectations); designers can also improve the gap between product design and expectations. Full article

(This article belongs to the Special Issue Sustainable Technology and Business Innovations: Decision-Making under Uncertainty and Information Asymmetry)

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13 pages, 885 KiB

Open AccessArticle

The Effect of Quality Management and Big Data Management on Customer Satisfaction in Korea’s Public Sector

by Gye-Soo Kim

Sustainability 2020, 12(13), 5474; https://0-doi-org.brum.beds.ac.uk/10.3390/su12135474 - 07 Jul 2020

Cited by 8 | Viewed by 4974

Abstract

Data-driven decision making is needed in uncertain situations. Total quality management is the source of quality management activities and customer satisfaction. This study is related to the investigation into the application of total quality management based on big data management on the public sector in Korea. We developed a research model for total quality management, and investigated the role of moderating big data management between total quality management leadership and quality management. Moreover, this study has examined the relationships between the practices of the total quality management and using big data, including customer needs and wants. The research model is developed and tested to fit it is with the SEM (Structural Equation Model) analysis using data 250 samples in Korea’s public sector. The survey was conducted between 1 August and 30 August 2019. The results are as follow: Total quality leadership has significantly impacted total quality management. Customer satisfaction was found to be significantly affected by total quality management activities. In addition, the level of big data management has the moderation effect between total quality leadership and total quality management in Korea public sectors. It is necessary to systematically manage data management in a situation where the demand for improvement of public service is gradually increasing online in public sector. Full article

(This article belongs to the Special Issue Sustainable Technology and Business Innovations: Decision-Making under Uncertainty and Information Asymmetry)

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19 pages, 1200 KiB

Open AccessArticle

Exploring the Impact of Gamification on Users’ Engagement for Sustainable Development: A Case Study in Brand Applications

by Hsi-Peng Lu and Hui-Chen Ho

Sustainability 2020, 12(10), 4169; https://0-doi-org.brum.beds.ac.uk/10.3390/su12104169 - 20 May 2020

Cited by 27 | Viewed by 11599

Abstract

Game elements and mechanics have been widely applied as marketing strategies for sustainable development. Seldom have studies explored the relationships between the components of the game and consumer continuous usage with gamification. This study analyzed how game mechanics impact users’ gaming behavior and awaken positive feelings so as to increase the stickiness of the brand. This research model empirically surveyed 411 Nike Run Club (NRC) app users, based on the Mechanics–Dynamics–Aesthetics (MDA) framework. The results show that the self-challenge is a pre-factor that affects self-benefit, fun, and social interaction, while self-benefit and social interaction affect fun. The results also show that fun is of primary importance among all others, as it is a factor that affects brand attitude and sustained use. The results provide valuable insights into sustainable strategies for industries related to the operation of an app-based brand. Full article

(This article belongs to the Special Issue Sustainable Technology and Business Innovations: Decision-Making under Uncertainty and Information Asymmetry)

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18 pages, 551 KiB

Open AccessArticle

A Novel Improvement Strategy of Competency for Education for Sustainable Development (ESD) of University Teachers Based on Data Mining

by Sung-Shun Weng, Yang Liu, Juan Dai and Yen-Ching Chuang

Sustainability 2020, 12(7), 2679; https://0-doi-org.brum.beds.ac.uk/10.3390/su12072679 - 29 Mar 2020

Cited by 16 | Viewed by 2934

Abstract

Competency for ESD (education for sustainable development) of university teachers is the key to the sustainable development of higher education. Developing teachers’ competency for ESD poses a new challenge for Chinese universities. Ideally, a new faculty development system should be established. However, this strategy is not feasible because of cost concerns, and improving competency for ESD by using the existing teacher competency training system is preferred. Therefore, this paper employed a specific data mining method to create a relationship model between the existing teacher competency system and the ESD competency according to teacher evaluation data. The developed model was used to analyze the teachers’ core competencies that are critical to ESD competency and derive decision rules for formulating improvement strategies. The teacher competency model was applied to the International Scholarly Exchange Curriculum (ISEC) program implemented at regional universities in China to conduct an empirical case study. The results of this study are anticipated to enable the formulation of an effective and appropriate strategy for improving teachers’ competency for ESD in the existing teacher development system. Full article

(This article belongs to the Special Issue Sustainable Technology and Business Innovations: Decision-Making under Uncertainty and Information Asymmetry)

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21 pages, 1911 KiB

Open AccessArticle

Understanding Interdependencies among Social Sustainability Evaluation Criteria in an Emerging Economy

by Amin Vafadarnikjoo, Hadi Badri Ahmadi, Benjamin Thomas Hazen and James J. H. Liou

Sustainability 2020, 12(5), 1934; https://0-doi-org.brum.beds.ac.uk/10.3390/su12051934 - 03 Mar 2020

Cited by 15 | Viewed by 3953

Abstract

Organizations need to consider the triple bottom line (3BL) model of sustainability to maintain competitiveness in global markets. Of 3BL, environmental and economic sustainability pillars are more often discussed, as they are most directly related to a firm’s bottom line and regulatory compliance. Unfortunately, social sustainability receives relatively little attention even though it remains a significant threat to organizational sustainment, particularly in emerging economies. This study builds upon a social sustainability evaluation framework to investigate the interrelationships among social sustainability criteria in an effort to better understand how to improve social sustainability performance. A unique hybrid of interpretive structural modeling (ISM) and hesitant fuzzy matrix of cross impact multiplications applied to classification (HF-MICMAC) methodology is introduced and employed to determine the interrelationships (drivers and dependences) among social sustainability criteria. Then, a manufacturing company is used as the backdrop to test the efficacy of the expanded framework. The findings can aid industry decision-makers, especially in developing countries, to better understand and manage social issues, improve social dimension of sustainability, enhance the sustainability in operations and shift towards sustainable development. Full article

(This article belongs to the Special Issue Sustainable Technology and Business Innovations: Decision-Making under Uncertainty and Information Asymmetry)

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20 pages, 1645 KiB

Open AccessArticle

Sustainability in Online Video Hosting Services: The Effects of Serendipity and Flow Experience on Prolonged Usage Time

by Hsi-Peng Lu and Yi-Hsiu Cheng

Sustainability 2020, 12(3), 1271; https://0-doi-org.brum.beds.ac.uk/10.3390/su12031271 - 10 Feb 2020

Cited by 11 | Viewed by 3950

Abstract

Online video hosting services have been a highly competitive e-commerce application in recent years. The service providers constantly seek viable ways for users to prolong usage time as a model for sustainable business development. In this study, we propose a framework to verify the impact of perceived serendipity on flow experience and prolong usage time. In addition, we verify the factors of online video platforms that affect perceived serendipity, such as enabled connections, introduced unexpected information, and induced curiosity. This study used questionnaires to survey YouTube users and analyzed 405 samples using the Structural Equation Model (SEM) method. The result shows that enabled connections and introduced unexpected information significantly affect perceived serendipity, which significantly impacts on the flow experience. Although induced curiosity does not significantly affect perceived serendipity, it directly affects the flow experience. Moreover, both perceived serendipity and flow experience positively affect intentions to prolong usage time. The results validate that serendipity is another antecedent of flow experience, and support the assumption that increasing the likelihood of perceived serendipity will affect users’ intention to prolong usage time in online video hosting services. The implication of research and discussions provides references for online video hosting service providers in marketing and operations. Full article

(This article belongs to the Special Issue Sustainable Technology and Business Innovations: Decision-Making under Uncertainty and Information Asymmetry)

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20 pages, 1679 KiB

Open AccessArticle

Exploring the Role of Deep Learning Technology in the Sustainable Development of the Music Production Industry

by Sung-Shun Weng and Hung-Chia Chen

Sustainability 2020, 12(2), 625; https://0-doi-org.brum.beds.ac.uk/10.3390/su12020625 - 15 Jan 2020

Cited by 19 | Viewed by 5832

Abstract

This study explores the role of deep learning technology in the sustainable development of the music production industry. This article surveys the opinions of Taiwanese music creation professionals and uses partial least squares (PLS) regression to analyze and elucidate the importance of deep learning technology in the music production industry. We found that deep learning cannot replace human creativity, but greater investment in this technology can improve the quality of music creation. In order to achieve sustainable development in the music production industry, industry participants need to awaken consumers’ awareness of music quality, actively enhance the unique value of their art, and strengthen cooperation between industries to provide a friendly environment for listeners. Full article

(This article belongs to the Special Issue Sustainable Technology and Business Innovations: Decision-Making under Uncertainty and Information Asymmetry)

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26 pages, 5003 KiB

Open AccessArticle

Reexamining Consumers’ Cognition and Evaluation of Corporate Social Responsibility via a DANP and IPA Method

by Ghi-Feng Yen and Hui-Chun Tsao

Sustainability 2020, 12(2), 529; https://0-doi-org.brum.beds.ac.uk/10.3390/su12020529 - 10 Jan 2020

Cited by 8 | Viewed by 5024

Abstract

Companies nowadays strive to gain public recognition through corporate social responsibility (CSR) activities. However, what are consumers’ cognition and evaluations of these CSR efforts, and can they be explained by the concentric circle model, the pyramid model, the intersecting circles model, or by a combination of all three? The novelty of this study is to reexamine the traditional theoretical models in order to find an empirical answer and offer it as a reference to companies. First, we specified the causal relationships of the principles using the modified decision-making trial and evaluation laboratory (DEMATEL)-based analytic network process (ANP) (DANP); then we identified and examined consumers’ cognition and evaluation of these CSR efforts by importance-performance analysis (IPA). The research result demonstrates that, in a Taiwanese community, consumers’ cognition and evaluation of companies’ CSR rarely follows one single model. On basic economic and legal levels, consumers indicate characteristics of the intersecting circles model. On higher ethical and philanthropic levels, they exhibit characteristics of the pyramid/concentric circles models. Notably, consumers’ demands and expectations of companies have reached an ethical level but have not yet placed great value on a philanthropic level. Moreover, the actual phenomenon may be interpreted by a combination of the above-mentioned models. Low- and high-level CSRs reveal different characteristics; therefore, companies should cultivate various communication strategies to improve effectiveness. Full article

(This article belongs to the Special Issue Sustainable Technology and Business Innovations: Decision-Making under Uncertainty and Information Asymmetry)

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