A interpretative-structural model of effective investments components in competitive advantage of industrial parks
Subject Areas : FinanceQasim Alipour 1 , mahmoud modiri 2 , Mahdi Faqhihi 3 , Roya Soltani 4
1 - Department of Management, Qeshm branch, Islamic Azad university, Qeshm, Iran
2 - Department of Industrial Management, South Tehran Branch, Islamic Azad University , Tehran , Iran
3 - Department of Management, Science and Research Branch, Islamic Azad University, Tehran, Iran.
4 - Department of Industrial Engineering, Khatam University, Tehran, Iran
Keywords: Competitive Advantage, Interpretive-Structural Modeling, investment, Industrial parks, economic policies,
Abstract :
Improving the competitiveness of businesses through investment in industrial parks is one of the challenges that managers face for economic development. This study has been done with the aim of identifying, determining relationships and providing a structural model of investment to competitive advantage in industrial parks. The data have been analyzed in two parts, qualitative and quantitative. In the qualitative part, the variables of the model were extracted using the method of content analysis and coding and confirmed by the fuzzy Delphi method, and in the quantitative part, the hierarchical structure model was presented. The statistical population of the research is 25 experts who were selected by non-probability purposeful and snowball sampling and answered the pairwise comparison questionnaire. The findings of the qualitative section showed that the model has eight variables including "infrastructure investment", "motivational investment", "economical investment", "institutional investment", "environmental investment", "support investment", "Political investment" and "competitiveness". The findings of the quantitative section showed that the structural model has six levels, that "political investment" and "infrastructure investment" have the most influence in the model and are in the first priority. We conclude that in order to competitive advantage, managers should pay more attention to technical and informational infrastructure, as well as appropriate policies and providing regulations.
Agyapong, D., & Tweneboah, G. (2023). The antecedents of circular economy financing and investment supply: The role of financial environment. Cleaner Environmental Systems, 100103.
Aritenang, A. F. (2021). The contribution of foreign investment and industrial concentration to firm competitiveness in Jakarta Megacity. Cities, 113, 103152.
Azqueta-Gavaldon, A. (2017). Financial investment and economic policy uncertainty in the UK. In Proceedings of the 1st International Conference on Internet of Things and Machine Learning (pp. 1-4).
Bagh, T., Khan, M.A., Fenyves, V. & Olah, J. (2023). Asymmetric Effect of Investors Sentiments on Herding Behavior and Stock Returns: Pre and Post Covid-19 Analysis. Montenegrin Journal of Economics, 19(1), 43-55.
Bakhtari, A. R., Kumar, V., Waris, M. M., Sanin, C., & Szczerbicki, E. (2020). Industry 4.0 Implementation Challenges in Manufacturing Industries: an Interpretive Structural Modelling Approach. Procedia Computer Science, 176, 2384–2393.
Bakhtiyarovich, O. B. (2023). The role and significance of the regional investment in attracting foreign investments to the economy. Conferencea, 5-8.
Bardazzi, R., & Ghezzi, L. (2018). Trade, competitiveness and investment: an empirical assessment. Economic Systems Research, 1–24.
Bolanos, R., Fontela, E., Nenclares, A., Paster, P.(2005). Using interpretive structural modeling in strategic decision making groups. Management Decision, 43(6), 877−895.
Boubaker, S., Dang, V. A., & Sassi, S. (2022). Competitive pressure and firm investment efficiency: Evidence from corporate employment decisions. European Financial Management, 28(1), 113-161.
Chauhan, C., Singh, A., & Luthra, sunil. (2020). Barriers to Industry 4.0 adoption and its performance implications: An empirical investigation of emerging economy. Journal of Cleaner Production, 124809.
Chen, Y. R., Jiang, X., & Weng, C. H. (2020). Can government industrial policy enhance corporate bidding? The evidence of China. Pacific-Basin Finance Journal, 60, 101288.
Chen, Z., Jiang, X., Liu, Z., Serrato, J. C. S., & Xu, D. Y. (2023). Tax Policy and Lumpy Investment Behaviour: Evidence from China’s VAT Reform. The Review of Economic Studies, 90(2), 634-674.
Ciżkowicz, P., Ciżkowicz-Pękała, M., Pękała, P., & Rzońca, A. (2021). Why do some special economic zones attract more firms than others? Panel data analysis of Polish special economic zones. Prague Economic Papers, 30(1), 61–89.
Claeys, G. (2015). Juncker plan: the EIB in the driver’s seat. Bruegel blog post, 30.
Dat, P. T., & Le, T. T. H. (2023). Factors Affecting the Green Economy Based on the Attraction of Foreign Direct Investment in the Context of Climate Change, Vietnam. ELIT–Economic Laboratory for Transition Research Dz. Washingtona 4/5, 19(1), 31.
Frick, S. A., & Rodríguez-Pose, A. (2023). What draws investment to special economic zones? Lessons from developing countries. Regional Studies, 1-12.
Frick, S. A., Rodríguez-Pose, A., & Wong, M. D. (2019). Toward economically dynamic special economic zones in emerging countries. Economic Geography, 95(1), 30–64.
Glavaški, O., Beker Pucar, E., Beljić, M., & Stojkov, S. (2023). Coordination vs. Competitiveness of Effective Average Tax Rates in Relation to FDI: The Case of Emerging EU Economies. Sustainability, 15(1), 227.
Hu, T. S., Pan, S. C., & Lin, H. P. (2021). Development, Innovation, and Circular Stimulation for a Knowledge-Based City: Key Thoughts. Energies, 14(23), 7999.
Ilyas, M., Carpitella, S., & Zoubir, E. (2021). Designing supplier selection strategies under COVID-19 constraints for industrial environments. Procedia CIRP, 100, 589-594.
Islam, M. A., Khan, M. A., Popp, J., Sroka, W., & Oláh, J. (2020). Financial development and foreign direct investment—The moderating role of quality institutions. Sustainability, 12(9), 3556.
Jin, Y., Li, A., Bian, J., Nan, X., & Lei, G. (2023). Modeling the Impact of Investment and National Planning Policies on Future Land Use Development: A Case Study for Myanmar. ISPRS International Journal of Geo-Information, 12(1), 22.
Kamali, Y., Sheikhzadeh Jooshani, S., & Afzali goroh, F. (2023). Identifing and ranking the effective political factors on foreign investment in Iran based on the General Policies of economic security. Quarterly Journal of The Macro and Strategic Policies, (), doi: 10.30507/jmsp.2023.370766.2503.
Kebede, S., & Heshmati, A. (2023). Political Economy of Industrialization and Industrial Parks in Ethiopia. IZA Discussion, 15846, 1-29.
Leng, T., Liu, Y., Xiao, Y., & Hou, C. (2023). Does firm financialization affect optimal real investment decisions? Evidence from China. Pacific-Basin Finance Journal, 79, 101970.
Lewis, C., Pain, N., Stráský, J., & Menkyna, F. (2014). Investment gaps after the crisis. OECD Economics Department Working Papers, No. 1168, OECD Publishing, Paris.
Li, M., Lin, Q., Lan, F., Zhan, Z., & He, Z. (2023). Trade policy uncertainty and financial investment: Evidence from Chinese energy firms. Energy Economics, 117, 106424.
Lin, H. L., Li, H. Y., & Yang, C. H. (2011). Agglomeration and productivity: Firm-level evidence from China’s textile industry. China Economic Review, 22(3), 313–329.
Liu, X., Zhang, W., Liu, X., & Li, H. (2022). The impact assessment of FDI on industrial green competitiveness in China: Based on the perspective of FDI heterogeneity. Environmental Impact Assessment Review, 93, 106720.
Luthra, S., Sharma, M., Kumar, A., Joshi, S., Collins, E., Mangla, S. (2022). Overcoming barriers to cross-sector collaboration in circular supply chain management: a multi-method approach. Transportation Research, 157.
Lv, P., & Spigarelli, F. (2016). The determinants of location choice: Chinese foreign direct investments in the European renewable energy sector. International Journal of Emerging Markets, 11, 333–356.
Lyu, Y., Liu, Y., Guo, Y., Sang, J., Tian, J., & Chen, L. (2022). Review of green development of Chinese industrial parks. Energy Strategy Reviews, 42, 100867.
Mahbub & Jongwanich, J. (2019). Barriers to foreign direct investment in the power sector: evidence from Bangladesh. International Journal of Development Issues, 18(3), 310-333.
Mahmud, P., Paul, S.K., Azeem, A., & Chowdhury, P. (2021). Evaluating Supply Chain Collaboration Barriers in Small- and Medium-Sized Enterprises. Sustainability, 13(13), 7449.
Musaev, A., & Makshanov, A. (2023). Dynamic Robustification of Trading Management Strategies for Unstable Immersion Environments. ELIT–Economic Laboratory for Transition Research Dz. Washingtona 4/5, 19(1), 19-30.
Ngundu, M., & Ngalawa, H. (2023). Causal Relationship between Africa's Growth and Chinese Debt Financing for Infrastructure Development. ELIT–Economic Laboratory for Transition Research Dz. Washingtona 4/5, 19(1), 127-137.
Nguyen, M. H., & Trinh, V. Q. (2023). UK economic policy uncertainty and innovation activities: A firm-level analysis. Journal of Economics and Business, 123, 106093.
Ombi, N., Ambad, S, N, A,, & Bujang, I. (2018). The effect of business development services on small medium enterprises (SMEs) performance. International Journal of Academic Research in Business and Social Sciences, 8(3), 117-130.
Pan, S. C., Hu, T. S., You, J. X., & Chang, S. L. (2023). Characteristics and influencing factors of economic resilience in industrial parks. Heliyon, 9(4), e14812.
Permana, A. I., & Soediantono, D. (2022). The role of eco supply chain on environment and operational performance of indonesian defense industry. Journal of Industrial Engineering & Management Research, 3(3), 73-84.
Rahko, J. (2023). The effects of environmental investments on the economic performance of industrial plants–Evidence from Finland. Journal of Cleaner Production, 136142.
Ramesh, A., Banwet, D. K., & Shankar, R. (2010). Modeling the barriers of supply chain collaboration. Journal of Modelling in Management, 5(2), 176–193.
Rweyendela, A. G., & Kombe, G. G. (2022). Factors influencing eco-industrial development in Africa: A SWOT analysis of a Tanzanian industrial park. African Journal of Science, Technology, Innovation and Development, 14(6), 1560-1574.
Saber, Z., Bahraami, H. R., & Haery, F. A. (2014). Analysis of the impact of supply chain management techniques: A competitive advantage in the market. International Journal of Academic Research in Economics and Management Sciences, 3(1), 75.
Sadalia., I., Muharam, H., Mulyana, A. (2021). Change of business environment: competitive advantage of the international market. Utopía y Praxis Latinoamericana, 26, 10-16.
Saleh, H., Abubakar, H., & Suriani, S. (2020). Determining factors affecting the interest in investment in Bulukumba area of South Sulawesi. Journal of Southwest Jiaotong University, 55(1), 1-17.
Saleman, Y., & Jordan, L. (2015). The implementation of industrial parks: Some lessons learned in India. Journal of International Commerce, Economics and Policy, 6(01), 1550005.
Sirafi Nafis, M. H., Taheri Kia, F., & Khoshtinat, B. (2022). The Impact of Organizational Entrepreneurship on Improving Competitive Advantage with Mediating Role of Innovation in Start-up Digital Industries. Journal of System Management, 8(4), 97-107.
Sirr, G., Power, B., Ryan, G., Eakins, J., O’Connor, E., & le Maitre, J. (2023). An analysis of the factors affecting Irish citizens’ willingness to invest in wind energy projects. Energy Policy, 173, 113364.
Sun, Y., Chang, H., Vasbieva, D. G., & Andlib, Z. (2022). Economic performance, investment in energy resources, foreign trade, and natural resources volatility nexus: Evidence from China's provincial data. Resources Policy, 78, 102913.
Sutopo, W., Erliza, A., Widiyanto, A., Apriandy, R. R., & Ali, A. (2018). The model of investment promotion policy scheme in science and technology park: a case study of technopolis in Indonesia. Production & Manufacturing Research, 6(1), 308-327.
Tossou, B. W., Chogou, S. K., & Sossou, C. H. (2023). Analysis of the competitiveness of soybean production in Benin. Scientific African, 19, e01491.
Tu, W., & Shi, R. (2023). Influence of Environmental Regulation on the International Competitiveness of the High-Tech Industry: Evidence from China. Sustainability, 15(1), 677.
Vásquez Cordano, A. L., & Prialé Zevallos, R. (2021). Country competitiveness and investment allocation in the mining industry: A survey of the literature and new empirical evidence. Resources Policy, 73, 102136.
Walsh, G., Schubert, P., & Jones, C. (2010). Enterprise system investments for competitive advantage: An empirical study of Swiss SMEs. European Management Review, 7(3), 180–18
Wang, C., Brabenec, T., Gao, P., & Tang, Z. (2021). The Business Strategy, Competitive Advantage and Financial Strategy: A Perspective from Corporate Maturity Mismatched Investment. Journal of Competitiveness, 13(1), 164–181.
Wang, T., Wang, R., & Zhang, H. (2023). Does Industrial Policy Reduce Corporate Investment Efficiency? Evidence from China. Sustainability, 15(1), 732.
Wilson, S. (2020). Building apparel manufacturing competitiveness through policy–a system dynamics approach. Journal of Fashion Marketing and Management: An International Journal, 24(2), 277–302.
Xu, G., Li, G., Sun, P., & Peng, D. (2023). Inefficient investment and digital transformation: What is the role of financing constraints?. Finance Research Letters, 51, 103429.
Yang, C. H., & Cho, N. H. (2023). A network analysis for providing insights into national R&D budget allocation and investment planning. foresight, (ahead-of-print).
Yang, D., Li, L., & Notteboom, T. (2022b). Chinese investment in overseas container terminals: The role of investor attributes in achieving a higher port competitiveness. Transport Policy, 118, 112-122.
Yang, J., & Liu, X. (2023). The role of sustainable development goals, financial knowledge and investment strategies on the organizational profitability: Moderating impact of government support. Economic Research-Ekonomska Istraživanja, 36(1), 1570-1591.
Yang, Z., Hao, G., & Cheng, Z. (2018). Investigating operations of industrial parks in Beijing: efficiency at different stages. Economic research-Ekonomska istraživanja, 31(1), 755-777.
Zhang, C., & Zheng, N. (2020). Monetary policy and financial investments of nonfinancial firms: New evidence from China. China Economic Review, 60, 101420.
Zhang, Y., Cao, SH., Lin, X., Su, Z., & Wang, K. (2022). Corporate financial decision under green credit guidelines: evidence from China. Journal of the Asia Pacific Economy,1-6.
Zhao, Y., & Su, K. (2022). Economic policy uncertainty and corporate financialization: Evidence from China. International Review of Financial Analysis, 82, 102182.
Zhu, Z., Zhu, Z., Xu, P., & Xue, D. (2019). Exploring the impact of government subsidy and R&D investment on financial competitiveness of China’s new energy listed companies: An empirical study. Energy Reports, 5, 919–925.