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The influence of socio-cultural factors on knowledge-based innovation and the digital economy.

Vlasov, Maksim; Polbitsyn, Sergey N.; Olumekor, Michael; Oke, Adekunle

Authors

Maksim Vlasov

Sergey N. Polbitsyn

Michael Olumekor

Adekunle Oke



Abstract

The knowledge economy, fostered by knowledge-based innovation, has been linked to entrepreneurial and economic success, especially in OECD countries. Studies have shown the influence of socio-cultural factors on almost every area of economic behavior. However, few studies have attempted to connect these factors to the knowledge economy. Our research bridges this gap. We investigated the impact of socio-cultural factors on knowledge-based innovation, then we also examined whether digitalization impacted knowledge-based innovation, regardless of the influence of socio-cultural factors. Using official data from Russia's statistical office, we developed a correlation regression model using a linear graphical test and Pearson correlation. Our results show that certain socio-cultural factors significantly influenced knowledge-based innovation. We also found that digitalization could mitigate the negative effects of socio-cultural factors. Digitalization had a positive influence on knowledge-based innovation across all regions and socio-cultural characteristics. Our research provides pioneering analysis of the topic within post-Soviet economies and has huge implications for business practice, policy making, and academic research.

Citation

VLASOV, M., POLBITSYN, S.N., OLUMEKOR, M. and OKE, A. 2022. The influence of socio-cultural factors on knowledge-based innovation and the digital economy. Journal of open innovation: technology, market, and complexity [online], 8(4), article 194. Available from: https://doi.org/10.3390/joitmc8040194

Journal Article Type Article
Acceptance Date Oct 25, 2022
Online Publication Date Oct 28, 2022
Publication Date Dec 31, 2022
Deposit Date Nov 1, 2022
Publicly Available Date Nov 1, 2022
Journal Journal of Open Innovation: Technology, Market, and Complexity
Electronic ISSN 2199-8531
Publisher MDPI
Peer Reviewed Peer Reviewed
Volume 8
Issue 4
Article Number 194
DOI https://doi.org/10.3390/joitmc8040194
Keywords Knowledge economy; Knowledge-based innovation; Socio-culture; Digital economy; Digitalization; Regions
Public URL https://rgu-repository.worktribe.com/output/1798911

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