IDEAS home Printed from https://ideas.repec.org/a/ers/journl/vxxy2017i3ap408-416.html
   My bibliography  Save this article

Innovation as the Main Factor for Sustainable Development of a Commercial Bank

Author

Listed:
  • Aleksey Vladimirovich Gribanov
  • Vladimir Vladimirovich Mitrokhin
  • Mariya Viktorovna Vilkova

Abstract

The article is an original study of the essence of banking innovations and their role in ensuring sustainable development of a commercial bank. The authors make definitive analysis of the term ‘innovation’ in research works of domestic and foreign authors, reveal their key feature, namely, the novelty that carries energy necessary for sustainable development of economy and a commercial bank. From the point of view of the synergetic approach and using the principles of non-equilibrium thermodynamics, scenario development of an open economic system is considered, a commercial bank being a special case of it; schemes to illustrate it are provided. The analysis made by the authors allows for a conclusion that it is possible to ensure a stable development of a credit institution only if there is a permanent inflow of external energy that compensates for energy losses due to entropic dispersion and a negative influence of internal and external factors thereon. Systemic innovation activity come laden with this energy, which leads to the conclusion that it is innovations that are the main factor ensuring a sustainable development of a commercial bank. A classification of banking innovations into basic (radical), combinatorial, and modifying ones is given.

Suggested Citation

  • Aleksey Vladimirovich Gribanov & Vladimir Vladimirovich Mitrokhin & Mariya Viktorovna Vilkova, 2017. "Innovation as the Main Factor for Sustainable Development of a Commercial Bank," European Research Studies Journal, European Research Studies Journal, vol. 0(4A), pages 408-416.
    • Handle: RePEc:ers:journl:v:xx:y:2017:i:3a:p:408-416
    as

    Download full text from publisher

    File URL: http://ersj.eu/dmdocuments/2017-xx-4-a-28.pdf
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Eleftherios Thalassinos, 2008. "Trends and Developments in the European Financial Sector," European Financial and Accounting Journal, Prague University of Economics and Business, vol. 2008(3), pages 44-61.
    2. E.D. Kormishkin & O.S. Sausheva & V.A. Gorin & E.S. Zemskova, 2016. "Innovation and Investment Safety as the Condition for Neo-Industrial Development," European Research Studies Journal, European Research Studies Journal, vol. 0(3A), pages 94-109.
    3. Andrei V. Vlasov, 2017. "The Evolution of E-Money," European Research Studies Journal, European Research Studies Journal, vol. 0(1), pages 215-224.
    4. Natalia G. Vovchenko & Evgeniy N. Tishchenko & Tatiana V. Epifanova & Mark B. Gontmacher, 2017. "Electronic Currency: The Potential Risks to National Security and Methods to Minimize Them," European Research Studies Journal, European Research Studies Journal, vol. 0(1), pages 36-48.
    5. Diana-Mihaela Pociovalisteanu & Emilian M. Dobrescu, 2009. "The Role of Structural Funds in Economic and Social Cohesion Process," European Research Studies Journal, European Research Studies Journal, vol. 0(2), pages 27-36.
    6. Eleftherios I. Thalassinos & Bozhana Venediktova & Daniela Staneva-Petkova & Vicky Zampeta, 2013. "Way of Banking Development Abroad: Branches or Subsidiaries," International Journal of Economics & Business Administration (IJEBA), International Journal of Economics & Business Administration (IJEBA), vol. 0(3), pages 69-78.
    7. Pociovalisteanu Diana-Mihaela & Thalassinos Eleftherios, 2009. "The Structural Funds and the Economic and Social Cohesion Process," Annals - Economy Series, Constantin Brancusi University, Faculty of Economics, vol. 1, pages 313-330, May.
    8. Eleftherios Thalassinos & Dimitrios Maditinos & Athanasios Paschalidis, 2012. "Observing evidence of insider trading in the Athens Stock Exchange," Journal of Economic Structures, Springer;Pan-Pacific Association of Input-Output Studies (PAPAIOS), vol. 1(1), pages 1-26, December.
    9. Alfredas Lukasevicius & Indre Lapinskaite, 2014. "Strategy of Sustainable Development in Investment Portfolio Case," European Research Studies Journal, European Research Studies Journal, vol. 0(4), pages 3-18.
    10. I.D. Anikina & A.V. Gukova & Ð .Ð . Golodova & Ð .Ð . Chekalkina, 2016. "Methodological Aspects of Prioritization of Financial Tools for Stimulation of Innovative Activities," European Research Studies Journal, European Research Studies Journal, vol. 0(2), pages 100-112.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Leticia Inácio & Ivete Delai, 2022. "Sustainable banking: a systematic review of concepts and measurements," Environment, Development and Sustainability: A Multidisciplinary Approach to the Theory and Practice of Sustainable Development, Springer, vol. 24(1), pages 1-39, January.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Oxana Leonidovna Chulanova & Gulnara Hamitovna Kucherenko & Dmitry Viktorovich Chulanov & Andrey Vladimirovich Kirillov & Aleksandr V. Melnichuk, 2017. "Crowd-Technology in the Selection of Personnel," European Research Studies Journal, European Research Studies Journal, vol. 0(4B), pages 380-397.
    2. Irina Japparova & Ramona Rupeika-Apoga, 2017. "Banking Business Models of the Digital Future: The Case of Latvia," European Research Studies Journal, European Research Studies Journal, vol. 0(3A), pages 846-860.
    3. Vasily I. Vlasov & Galina B. Vlasova & Svetlana V. Denisenko & Olga V. Litvinova, 2017. "The Basic Principles of the European State and Dynamics of the Political and Legal Development within the Russian Federation," European Research Studies Journal, European Research Studies Journal, vol. 0(1), pages 225-233.
    4. Oksana Viktorovna Kuchmaeva & Elena Aleksandrovna Maryganova & Olga Anatolievna Mahova & Tatyana Pavlovna Maksimova, 2017. "Implementing the Concept of Sustainable Development in Russia: Developing the Childhood Infrastructure," European Research Studies Journal, European Research Studies Journal, vol. 0(4B), pages 522-535.
    5. Constantin Zaman & Bogdan Meunier, 2017. "A Decade of EU Membership: Evolution of Competitiveness in Romania," European Research Studies Journal, European Research Studies Journal, vol. 0(2A), pages 224-236.
    6. Alena Anatolievna Uksumenko & Irina Aleksandrovna Kuzmicheva & Olga Yurievna Vorozhbit, 2017. "Effective Marketing Strategy for Regional Banks," European Research Studies Journal, European Research Studies Journal, vol. 0(4A), pages 558-567.
    7. T.V. Shatkovskaya & N.G. Romanenko & Y.A. Naumenko & E.A. Parshina, 2017. "The Problem of Individualization of Legal Entities in Terms of Innovative Development of the Russian Federation and the European Union Economy," European Research Studies Journal, European Research Studies Journal, vol. 0(1), pages 162-171.
    8. Svetlana Saksonova & Irina Kuzmina-Merlino, 2017. "Fintech as Financial Innovation - The Possibilities and Problems of Implementation," European Research Studies Journal, European Research Studies Journal, vol. 0(3A), pages 961-973.
    9. Baurzhan R. Shakirtkhanov, 2017. "Venture Funds as one of the Major Sources of Investment for Innovative Entrepreneurship in the Republic of Kazakhstan," European Research Studies Journal, European Research Studies Journal, vol. 0(2B), pages 334-347.
    10. Adijati Utaminingsih & Sony Heru Priyanto & John J.O.I. Ihalauw & Linda Kusuma, 2020. "Green Business Behaviour, Green Technologies, and Sustainability in SMEs," International Journal of Economics & Business Administration (IJEBA), International Journal of Economics & Business Administration (IJEBA), vol. 0(1), pages 417-424.
    11. Grigory Viktorovich Prytkov & Natalia Yurievna Tsvetus & Artem Alexandrovich Balyakin & Andrey Sergeevich Malyshev & Sergey Borisovich Taranenko, 2017. "Scientific Cooperation between Russia and the EU in the Development and Use of Large Research Infrastructure," European Research Studies Journal, European Research Studies Journal, vol. 0(3A), pages 338-353.
    12. Prof. Dr. Ion Criveanu & Dr. Ec. Loredana Iordache, 2015. "Establishing Human Resources Strategies and Policies Correlating with Company's Objectives," International Journal of Economics & Business Administration (IJEBA), International Journal of Economics & Business Administration (IJEBA), vol. 0(4), pages 3-10.
    13. Mirela Cristea & Eleftherios Thalassinos, 2016. "Private Pension Plans: An Important Component of the Financial Market," International Journal of Economics & Business Administration (IJEBA), International Journal of Economics & Business Administration (IJEBA), vol. 0(1), pages 110-115.
    14. Dumitrache Vlad Ionut & Constantinescu Maria, 2016. "EU Security Challenges and Their Economic Implications," International Journal of Economics & Business Administration (IJEBA), International Journal of Economics & Business Administration (IJEBA), vol. 0(2), pages 3-28.
    15. Adam Albekov & Natalia Vovchenko & Yevgeniya Medvedkina & Taras Medvedkin, 2017. "Green Economy and Economic Growth: Trends, Challenges and Opportunities for the EU," International Journal of Economics & Business Administration (IJEBA), International Journal of Economics & Business Administration (IJEBA), vol. 0(1), pages 49-62.
    16. Zbigniew Glabinski, 2023. "Perception of the Significance of Tourism Development Based on the Example of the Residents of Sławno County (Western Pomerania, Poland)," European Research Studies Journal, European Research Studies Journal, vol. 0(3), pages 224-245.
    17. Andrei V. Vlasov, 2017. "Pension System as a Demographic Recession Factor," European Research Studies Journal, European Research Studies Journal, vol. 0(3B), pages 443-452.
    18. N.V. Petrasheva & S.I. Ulezko & A.V. Yakovlev & A.L. Klochkova, 2017. "Economic Crime and Problem of Complicity Understanding," European Research Studies Journal, European Research Studies Journal, vol. 0(1), pages 208-214.
    19. Natalia Nikolaevna Natocheeva & Yury Alexandrovich Rovensky & Tatiana Viktorovna Belyanchikova & Yury Yuryevich Rusanov, 2017. "The Diversification of Banking Capital Sources and Cash Flow Granularity in Merger and Acquisition Transactions," European Research Studies Journal, European Research Studies Journal, vol. 0(4A), pages 501-514.
    20. Irina Ilina & Elena Kryukova & Elena Potekhina & Elena Abyzova & Irina Shadskaja, 2017. "Russian Lectures at the Crossroads of Reforms: Strategies of Survival and Adaptation," European Research Studies Journal, European Research Studies Journal, vol. 0(2B), pages 86-97.

    More about this item

    Keywords

    innovations; sustainable development; commercial bank; credit institution; synergetic approach; non-equilibrium thermodynamics. JEL Classification: G21; O32;
    All these keywords.

    JEL classification:

    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • O32 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Management of Technological Innovation and R&D

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ers:journl:v:xx:y:2017:i:3a:p:408-416. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Marios Agiomavritis (email available below). General contact details of provider: https://ersj.eu/ .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.