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

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

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: Elsevier
• 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