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

DOI

10.2991/978-94-6463-054-1_81How to use a DOI?

Keywords

perceived risk; creativity mechanism; innovation performance; organizational performance of factoring companies

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.

Copyright

© 2023 The Author(s)

Open Access

Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

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TY  - CONF
AU  - Heng Guo
PY  - 2022
DA  - 2022/12/14
TI  - The Perceived Risk, Creativity Mechanism, Innovation Performance and Organizational Performance of Factoring Companies
BT  - Proceedings of the 2022 2nd International Conference on Financial Management and Economic Transition (FMET 2022)
PB  - Atlantis Press
SP  - 744
EP  - 761
SN  - 2352-5428
UR  - https://doi.org/10.2991/978-94-6463-054-1_81
DO  - 10.2991/978-94-6463-054-1_81
ID  - Guo2022
ER  -