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The Perceived Risk, Creativity Mechanism, Innovation Performance and Organizational Performance of Factoring Companies

In: Proceedings of the 2022 2nd International Conference on Financial Management and Economic Transition (FMET 2022)

Author

Listed:
  • Heng Guo

    (Macau University of Science and Technology, School of Business)

Abstract

Innovation performance and organizational performance are the fundamental topics in corporate governance. An enterprise with the sound mechanism of innovation performance and organizational performance is poised for increased profitability, boosted organizational competitiveness, sustainable development and governance. However, creativity could also entail enormous risks. A robust risk management has then emerged as the essential element in the management and operation of factoring companies where innovation is hailed as one of its key drivers. The study explores the relationship between perceived risk, creativity mechanism, innovation performance and organizational performance by using hundreds of members of the Shanghai Commercial Factoring Association, or SCFA, as the research object. The empirical analysis shows that perceived risk has a significant impact on creativity mechanism, creativity mechanism has a significant impact on innovation performance, perceived risk has a significant impact on innovation performance, and innovation performance has a significant impact on organizational performance. Tests of the mediation effect show that innovation performance has a mediating effect on creativity mechanism and organizational performance, while innovation performance has a mediating effect on perceived risk and organizational performance. Based on the above results, this study puts forward five suggestions for the factoring industry and SCFA management body: Enhance the capability of risk perception; Encourage a culture of innovation in the management of factoring companies; Put emphasis on the impact of innovation mechanism on organizational performance; Establish an organizational environment for the appraisal of innovativeness; Improve management skills and eliminate a labor surplus.

Suggested Citation

  • Heng Guo, 2023. "The Perceived Risk, Creativity Mechanism, Innovation Performance and Organizational Performance of Factoring Companies," Advances in Economics, Business and Management Research, in: Vilas Gaikar & Min Hou & Sikandar Ali Qalati (ed.), Proceedings of the 2022 2nd International Conference on Financial Management and Economic Transition (FMET 2022), pages 744-761, Springer.
    • Handle: RePEc:spr:advbcp:978-94-6463-054-1_81
    DOI: 10.2991/978-94-6463-054-1_81
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