EFFECTS OF IMPLEMENTATION OF STRATEGIC INNOVATION ON THE PERFORMANCE OF COMMERCIAL BANKS IN KENYA; A CASE STUDY OF EQUITY BANK
Abstract
As today’s business environment becomes increasingly competitive, business organizations are becoming more aggressive and dynamic in identifying competitive strategies that will ensure profitable existence. Given the limitations of previous research on strategic innovations in Kenya, the present study addresses the gap by focusing on the question: what are the effects of implementation of strategic innovation on the performance of commercial banks in Kenya, with reference to Equity bank. The study particularly sought to establish the effect of market innovation strategies on the performance of commercial banks in Kenya and to determine the effect of product innovation strategies on the performance of commercial banks in Kenya. The target population for the study was the staff at the Equity bank group headquarters, with a population of 160 employees. The determined sample size was 115 respondents out of a target population of 160. The study used primary data which was largely quantitative and descriptive in nature. After data collection, the filled-in and returned questionnaires were edited for completeness, coded and entries made into Statistical package for social sciences (SPSS version 21). Both descriptive and inferential statistics were further conducted. Descriptive analysis involved the use of frequencies in their absolute and relative forms (percentage). Mean and standard deviations were also be used as measures of central tendencies and dispersion respectively. Inferential statistics was on the other hand done to show the nature and magnitude of relationships established between the independent and dependent variables using regression analysis to make inferences from the data collected to more generalized conditions. Findings revealed that Market innovation strategies and Product innovation strategies collectively explain variations in the Performance. The study concluded that overall, strategic innovation, as indicated by Market innovation strategies and Product innovation strategies positively and significantly impacted performance among Commercial banks in Kenya.
Key Words: Market Innovation, Product Innovation, Performance of Commercial Banks
Full Text:
PDFReferences
Abishua, D.A. (2010). Strategies used by Equity bank to compete in the Kenyan banking ndustry, Unpublished MBA Project, University of Nairobi.
Abor, J.A. (2005). Technological Innovations and Banking in Ghana: An Evaluation of Customers’ Perceptions. University of Ghana, Legon.
Abramowitz, M. (1956). Research and output trends in the United States since 1870. American Economic Review 46, 5-23.
Acharya, V. V., & Subramanian, K. V. (2009). Bankruptcy codes and innovation. Review of Financial Studies, 22, 4949-4988
Aderonke, A.A., & Charles, K.A. (2010). An Empirical investigation of the level of users, acceptance of e-banking in Nigeria. Journal of Internet Banking and Commerce 15 (1), http://www.arraydev.com/commerce/jibc/ [Accessed 8th August 2011]
Agboola, A.A. (2014). Information and Communication Technology (ICT) in Banking Operations in Nigeria – An Evaluation of Recent Experiences. Obafemi Awolowo University Ile-Ife, Nigeria.
Aghion, P., Bloom, N., Blundell, R., Griffith, R., & Howitt, P. (2005). Competition and innovation: An inverted-U relationship. Quarterly Journal of Economics, 120, 701-728.
Aghion, P., VanReenen, J., & Zingales, L. (2009). Innovation and institutional ownership. Working Paper, Harvard University
Ahmed, H. (2012). The role of Islamic financial institutions in financing micro- enterprises: theory and evidence. A paper presented at the Forum on Islamic and finance organised by the Arab Academy for banking and financial science in Amman, Jordan, 27- 29 September, 2012
Ahmed, H. K.,Raza, A.,Amjad, W., &Akram, M. (2011). Financial performance of Finance companies in Pakistan. Interdisciplinary Journal of Contemporary Research in Business, 2(12), 732- 744
Akova, B., Ulusoy, G., Payzin, E., Kaylan, A.R. (2013). New product development capabilities of the Turkish electronics industry. Fifth International Product Development Management Conference, 863-876, Como, Italy
Ali, A., Krapfel, R., &Labahn, D. (1995). Product innovativeness and entry strategy: Impact on cycle time and break-even time. Journal of Product Innovation Management, 12(1), 54-70.
Alu, A. O. (2011). Effects of Information Technology on Customer Services in the Banking Industry in Nigeria.
Ambler, T. &Putoni, S. (2012). Measuring marketing performance, in Hart, S. (Ed), Marketing changes, Thomson learning, London
Amit, R. & Zott, C. (2012), Creating value through business model, MIT Sloan Management Review, 53 (3), 41 – 49.
Andrews, J., & Smith, D. C. (2013). On search of marketing imagination: Factors affecting the creativity of marketing programs for mature products. Journal of Marketing Research, 33(2), 174-187.
Armour, J., & Cumming, D.J. (2008). Bankruptcy law and entrepreneurship. American Law and Economics Review 10, 303-350.
Aspara, J., Hietanen, J., Parviainen, P., Tikkanen, H. (2014). An Exploratory Empirical Verification of Strategic innovation: Findings from Sales Strategy, Proceedings of the Eighth International Business Research (IBR) Conference, Dubai, United Arab Emirates, 27-28
Atanassov, J., Nanda, V., & Seru, A. (2007). Finance and innovation: The case of publicly traded firms. Working Paper. University of Oregon, Arizona State, and Chicago
Ayo, C. K., Adebiyi, A. A., Fatudimu, I.T., & Ekong, O.U. (2008). Framework for e-commerce implementation: Nigeria a case study. Journal of Internet Banking and Commerce, August 2008, 13 (2).
Azar, O.H. 2013, Book review: strategic innovation: how to create uncontested market space and make the competition irrelevant.
Balachandher , Santha, Norhazlin & Rajendra, (2011). Electronic Banking in Malaysia: A Note on Evolution of Services and Consumer Reactions.
Barney, J.B., & Hesterly, W. S. (2010). Strategic Management and Competitive Advantage; Concepts and Cases, New Jersey, Pearson Prentice Hall.
Batiz- Lazo, B. & K, Woldesent, (2012). The dynamics of product and process innovation in UK banking, International Journal of Financial Service Management 1(4), 400- 421
Batiz-Lazo, B., & Woldesenbet, K. (2006). The dynamics of product and process innovation in UK banking. International Journal of Financial Services Management, 1 (4), 400-421.
Berg, S. A., Forsund F.R & Jansen, E. S (2010). Malquist indices of productivity growth during the deregulation of Norwegian banking, 1980- 2013, Scandinavian Journal of Economics, (9). 211- 228
Berger, A. N. & Dick, A. A. (2012). ‘Entry into banking markets and the first- mover advantage’ The Journal of Money, Credit and Banking, 39 (4), 775- 807
Bitner, M. J., Gremler, D. & Zeithaml, V.A., (2012). Services Marketing, Integrating Customer Focus Across the Firm, 4th Edition, USA, McGraw-Hill.
Bonn, C. J (2010). Strategic Management and Competitive Advantage; Concepts and Cases, New Jersey, Pearson Prentice Hall.
Burke, A., van Stel, A. and Thurik, R. (2010). Blue Ocean versus Competitive Strategy: Theory and Evidence, ERIM Report Series Reference No. ERS- 2010-030-ORG. Available at SSRN: http://ssrn.com/abstract=1417221
CBK. (2010). Central Bank of Kenya Directory of Commercial Banks and Mortgage Finance Companies, Kenya. Retrieved on Thursday, 10th April 2016 @ http://www.centralbank.go.ke/downloads/bsd/Commercial%20Banks%20Directrory%20-%2031%20December%202010.pdf
CBK. (2011). Central Bank of Kenya. Quaterly report on Development in the Kenyan banking Sector for the period ended 30th June 2011, www.centrabank.go.ke/downloads, retrieved on 10th April 2016
Chemmanur, T., & Tian, X. (2010). Do anti-takeover provisions spur corporate innovation? Working Paper, Boston College
Chiemeke, S. C., Evwiekpaefe, A. E., & Chete, F. O. (2006). The adoption of IB in Nigeria:An empirical investigation. Journal of IB and Commerce 11 (3), Available athttp://www.arraydev.com/commerce/jibc/
Chorofas, D. N. (2013). Electronic Funds Transfer. Butterworths, London, UK.
Connaway, O. M., & Powell, P. (2010). Research Methods: Quantitative and Qualitative Approaches. Acts Press, Nairobi, Kenya
Coombs, Saviotti & Walsh, (1987). Economics and Technological Change. Macmillan: London.
Corolyne, N., (2012). Financial Innovation and its effects on financial performance on the commercial banks in Kenya, Unpublished MBA Project, University of Nairobi
Cumming, J.E., (2014). Product-Process Development Integration in Manufacturing, Management Science, Vol. 41, No. 7, 1224–1237.
Damanpour, F., & Evan, W. M. (2015). Organizational innovation and performance: the problem of organizational lag. Administrative Science Quarterly, 29(3), 392-409.
Davis, F. D. (2013). Perceived usefulness, perceived ease of use, and user acceptance of information technology. MIS Quarterly 13(3): 319–340
Djellal, J.E. (2014). Product-Process Development Integration in Manufacturing, Management Science, Vol. 41, No. 7, 1224–1237
Drucker, P.F. (2013). Innovation and Entrepreneurship. Butterworth-Heinemann, Oxford
Duade, Y. B. &Akingbade, R. (2011).Equity and Bond Portfolio Analyst at Asset Management Corporation of Nigeria, Financial Service Industry, Lagos Nigeria
Essinger, J. (2013). The Virtual Banking Revolution: The Customer, the Bank and the Future. 1st ed., International Thomson Business Press, London, UK.
Fagerberg, J., Mowery, D.C., Nelson, R.R. (2014). The Oxford Handbook of Innovation. Oxford University Press, USA
Fan, W., & White, M. (2003). Personal bankruptcy and the level of entrepreneurial activity. Journal of Law and Economics, 46, 543-568.
Ferreira, D., Manso, G., & Silva, A. C. (2010). Incentives to innovate and the decision to go public or private. Working Paper. London School of Economics.
Fifield, P. (2014). Securitization and the declining impact of bank finance on loan supply: Evidence from mortgage originations. Journal of Finance, 64, 861-89
Foxall, W.J. (2013). A Dynamic Model of Process and Product Innovation, Omega, The Int. Jl of Mgmt Sci., Vol. 3, No. 6, 639–656
Francesca, A., & Claeys, P. (2010). Innovation and performance of European banks adopting Internet. University of Milan and Cass Business School, City University London and University of Barcelona Centre for Banking Research ,Cass Business School,City University London Working Paper Series,WP 04/10
Freeman, C. (2012). The diffusion of information and communication technology in the world economy in the 2013s, In R. Mansell (Ed.), The Management of Information and Communication Technologies: Emerging Patterns of Control, Aslib, London, Pp. 8-41.
Galbraith, Y., & Schendel, Z. (2011). Stakeholders Influences on Corporate Green Innovation Strategy: Case Study of Manufacturing Firms in China. Journal of Corporate Social Responsibility & Environmental Management, 20, 1–14. http://doi.dx.org/10.1002/csr.283
Gall, K., Connaway, A. & Orodho, A. J. (2010).Essentials of Educational and Social Science Research Method. Nairobi: Masola Publishers
Gallouj, F. (2011). Innovation in the service economy: The new wealth of nations. Cheltenham, UK: Edward Elgar.
Gardachew, W. (2010). Electronic-banking in Ethiopia: Practices, opportunities and challenges. Journal of Internet Banking and Commerce,An open access Internet journal (http://www.arraydev.com/commerce/jibc/). August 2010, vol. 15, no.2(http://www.arraydev.com/commerce/jibc/)
Gatignon, C. J., & Xuereb, J. W. (2013). Strategic human resources practices and innovation performance the mediating role of knowledge management capacity. Journal of Business Research, 62(1), 104–114
Gatignon, H. & Xuereb, J.M. (2013). Strategic orientation of the rm and new product performance. Journal of Marketing Research 34 (1), 77–79
Gitau, R.M (2011). The relationship between financial innovation and financial performance of commercial banks in Kenya. Unpublished MBA Project: University of Nairobi.
Githakwa, P. W. (2011). The relationship between financial innovation and profitability of commercial banks in Kenya. Unpublished MBA project, University of Nairobi.
Goh, A. (2011). The Management of Technological Innovation, Oxford University Press
Gordon, R. M. 2015, Strategic innovation: how to create uncontested market space and make the competition irrelevant
Grant, R. (2015). Prospering in dynamically-competitive environments: organisational capabilities as knowledge integration. Organisation Scienc, 7, 4 375-387.
Grupp, A., (2014). Market orientation and alternative strategic orientations: A longitudinal assessment of performance implications. Journal of Marketing 66 (4), 25−39.
Hamel, G. & Prahalad, C. K. (2012). The core competence of the corporation. Harvard Business Review, 68(3), 79.
Han, J. K., Namwoon, K., & Srivastava, R. K. (2011). Market orientation and organizational performance: Is innovation a missing link? Journal of Marketing, 62, 1998.
Hicks, D. &Niehans J. (2012). Financial Innovations, Multinational banking and monetary policy, Journal of Banking and Finance, 537- 551
Hilmi, M. F. (2008). Market innovativeness of Malaysian SMEs: Preliminary results from a first wave data collection. Asian Social Science, 4(12), 2-49.
Hitt, M.A., Ireland, R.D., Camp, S.M., Sexton, D.L. (2011). Guest editors’ introduction to the special issue strategic entrepreneurship: entrepreneurial strategies for wealth creation. Strategic Management Journal 22, 479–491
Ho, G & Pennington. G. A (2012). The impact of local predatory lending laws on the flow of subprime credit, journal of urban economics, 60 (2), 210- 228
Howells, J., & Tether, B. S. (2014). Innovation in services: Issues at stake and trends. A Report for DG Enterprise of the European Commission, under contract INNO-Studies 2011: Lot 3 (ENTR-C/2011).
Hult, T. M. & Ketchen Jr., D. J. (2014). Does market orientation matter? A test of the relationship between positional advantage and performance. Strategic Management Journal, 22, 899-906.
Humphery, D., Willessom, M., Bergendahl, G &Lindblon, T. (2012). Benefits from a changing payment technology in European banking, journal of banking and finance, 30, 6, 1631- 52
Hurley K. & Hult, T. M. (2014). Does market orientation matter? A test of the relationship between positional advantage and performance. Strategic Management Journal, 22, 899-906.
Hynes, N. (2011). Corporate culture, strategic orientation, and business performance: new approaches to modeling complex relationships. Technological Forecasting and Social Change, 76(5), 644–651.
Irechukwu, G. (2011). Enhancing the Performance of Banking Operations through Appropriate Information Technology, In: Information Technology in Nigerian Banking Industry, Spectrum Books, Ibadan, pp63-78.
Jaworski B.J. & Kohli, A.K. (2012). MARKOR: A measure of market Orientation. Journal of Marketing Research, 30(4), 467-477.
Johne, P. & Storey, M. (2014). Modeling Innovation Processes for Decision Support and Management Simulation, System Dynamics Review, Vol. 12, No. 3, 211–234
Johnson, G., Scholes, K. & Whittington, R. (2015). Exploring Corporate Strategy, 7th Edition, Prentice Hall, Harlow England
Joseph, A. & Mark, K. (2013), Service quality in the banking sector: the impact of technology on service delivery. International Journal of Bank Marketing, 17, 4, 182-91.
Jushua, A. (2010). Technological innovations and banking: An evaluation of customers’ perceptions. Academic leadership online journal, 8(4). 205
Kagan, A., Acharya, R. N., Rao, L.S., & Kodepaka, V. (2005). Does Internet banking affect the performance of community banks? American Agricultural Economics Association Annual Meeting, July 24-27, 2005, Providence, Rhode Island
Karanja, S. (2011). Innovation Strategies Adopted By Insurance Companies in Kenya. (Unpublished MBA Project), School of Business, University of Nairobi, Kenya.
Key, J.P. (2013). Research Design in Occupational Education. Oklahomi State University. IRB, Thesis Handbook.
Kemoli, K. (2010). Strategic Innovations and Performance of Commercial Banks Listed in the Nairobi
Kihara, M. (2012). Banking trends and innovations in Tanzania. The role which banks play in driving the socio-economic development of the country’s strategic focus and competitive advantages. http://www.tanzaniainvest.com/finance/banking/barclays-kihara-maina retrieved in February, 2017
Kihumba, C.W. (2010). Determinants of financial innovation and its effect on the banks’ performance in Kenya. Unpublished MBA project. University of Nairobi. Securities Exchange. (Unpublished MBA Project), School of Business, University of Nairobi, Kenya.
Kim, W. C. & Maugborgne, R. (2005). Strategic innovation, How to Create Uncontested Market Space and Make the Competition Irrelevant, Boston, Harvard Business School Press.
Kimberly, J. R., & Evanisko, M. J. (1981). Organizational innovation: the influence of individual, organizational, and contextual factors on hospital adoption of technological and administrative innovations. Academy of Management Journal, 24(4), 689-713.
Kohli, A.K. & Jaworski, B.J. (2013). Market Orientation: The Construct, Research Propositions, and Managerial Implications. The Journal of Marketing, 54(2),1-18.
Kombo, M. B., & Tromp, M. A. (2010). Qualitative Data Analysis: An Expanded Sourcebook (second ed.). Beverley Hills: Sage
Kothari, K. (2004). Handbook of Research Methods in Public Administration. Newyork: Auerbach Publications, Taylor & Francis GroupModell
Kotler, P., 2011. Principles of Marketing. Prentice Hall, NJ
Kuratko, D.F., Ireland, R.D., Covin, J.G., Hornsby, J.S. (2015). A model of middle-level managers’ entrepreneurial behaviour. Entrepreneurship Theory and Practice 29 (6), 699-716
Lawrence, J.W. (2010). Technological Change Financial innovation and Financial Regulation in the US, the Challenges for Public policy, cited from citeseerx.ist.psu.edu/viewdoc/download?doi=10.1.1.155.1655
Leow, H.B. (2013). New Distribution Channels in banking Services. Banker’s Journal Malaysia, No.110, June 2013, p.48-56.
Lendel, V., & Varmus, M. (2011). Creation and implementation of the ınnovation strategy in the enterprise. Economics and Management, 16, 819-826.
Li, E. Y., Chen, J. S., & Huang, Y. H. (2012). A framework for investigating the impact of IT capability and organizational capability on firm performance in the late industrializing context. International Journal Technology Management, 36(1/2/3), 209-229.
Li, H. & Atuagene-Gima, K. (2011). Product innovation strategy and the performance of new technology ventures in China. Academy of Management Journal 44 (6), 1123-1134
Loof, H. (2000), Outsourcing, innovation and performance in service and manufacturing industries, Conference innovation and ente rprise creation: Statistics and indicators, France, 23- 24/11/2000.
Longstaff, M., & Rajan,, D. (2012). An observation analysis of e-service quality in online banking. Journal of Financial Services Marketing, 13(2), 164-178.
Lukas, K. & and Ferrell, A. (2011). The effects of entrepreneurial proclivity and market orientation on business performance. Journal of Marketing, 66, 18-32
Lusweti, R. (2009). Innovation strategies adopted by radio stations in Kenya. (Unpublished MBA Project), School of Business, University of Nairobi, Kenya.
Mabrouk, A. & Mamoghli, C. (2010). Dynamic of financial innovation and Performance of Banking. International research Journal of Finance and Economics, 51.
Malhotra, P. & Singh, B. (2009) The impact of Internet banking on bank performance and risk: The Indian experience Eurasian Journal of Business and Economics, 2 (4) (2009), pp. 43-62
Melody, A. (2010). Access to Finance in Southern Sudan, Sudan Printing Press, Sudan, Khartoum
Menon, A. H. & Varadarajan, W. O. (2010). Market orientation: A meta-analytic review and assessment of its antecedents and impact on performance. Journal of Marketing, 69, 24-41
Miles, I. (2014). Innovation in services. In J. Fagerberg, D. Mowery, and R. Nelson (Eds.) Understanding Innovation, Oxford: Oxford University Press.
Misati, R. N. M., Njoroge, L., Kamau, A., & Ouma, S. (2010). Financial innovation and monetary policy transmission in Kenya. http://www.eurojournals.com/finance.htm, retrieved on 10th April 2016
Mitchell, R. W. (2013). Developing a market orientation: An organizational strategy perspective. International Journal of Research in Marketing, 9, 225-46
Mugenda, O. M & Mugenda, A. G (2008) Research Methods: Qualitative and Qualitative Approaches, Acts Press, Nairobi
Muthoni, M. G. (2013). The effect of financial innovation of financial performance of insurance companies in Kenya. Unpublished MBA Project, University of Nairobi
Mwania, M., & Muganda, N. (2011). An investigation on the relationship between information technology (IT) conceptualization and bank performance. School of Computer Science & Information Technology, Kimathi University College of Technology, Kenya, AIBUMA Conference paper, 2011
Narver, J.C. & Slater, S.F. (2013). The effect of a market orientation on business profitability. Journal of Marketing, 54(4), 20-34.
Ngari, J. M., & Muiruri, J. K., (2014). Effects of financial innovation on the financial performance of commercial banks in Kenya, International Journal of Humanities & Social Sciences, 4 (7), 10- 13
Nyambane, G.O. (2012). Challenges in the implementation of strategic innovation in large indigenous banks, Unpublished MBA Project, University of Nairobi.
Nyangosi, R. (2008). E- banking: an integration technology in Kenya. The African executive publication, finance and banking.
Nyathira, N.C. (2010). Financial innovation and its effect on financial performance of Commercial Banks in Kenya: Unpublished MBA project: University of Nairobi.
Nunnaly, J. D. (1994). Psychometric Theory. New York, NY: McGraw Hill.
OECD, (2005). Oslo Manual: Proposed Guidelines for Collecting and Interpreting Technological Innovation Data. Paris.
Okiro. K. (2013).The Impact of Mobile and Internet Banking on Performance of Financial Institutions in Kenya, unpublished MBA Project, University of Nairobi
Okunoye, Bada & Frolick, (2007). IT innovations and e-service delivery: an exploratory study. Proceedings of the 9th International Conference on Social Implications of Computers in Developing Countries, São Paulo, Brazil, May 2007.
Padachi, K., Rojid, S., & Seetanah, B. (2008). Analyzing the factors that influence the adoption of internet banking in Mauritius. Proceedings of the 2007 Computer Science and IT Education Conference
Pasha, B. (2010). Analyzing the factors that influence the adoption of internet banking in Mauritius. Proceedings of the 2007 Computer Science and IT Education Conference
Patrick, D, (2011). Relationship between financial innovation and financial performance of commercial in Kenya, Unpublished MBA Project, Kenyatta University
Pedersen, P., Methlie, L., & Thorbjornsen, H. (2011). Understanding mobile commerce end-user adoption: a triangulation perspective and suggestions for an exploratory service evaluation framework. Proceedings of the 35th Hawaii International Conference on System Sciences
Pooja, M., & Balwinder, S. (2009).The impact of internet banking on bank performance and risk: The Indian experience. Eurasian Journal of Business and Economics, 2 (4), 43-62.
Porteous, D. (2006). The Enabling Environment for Mobile Banking in Africa, London: DFID. http://www.bankablefrontier.com/assets/ee.mobil.ban king.report.v3.1.pdf
Porter, M. E. (1991). Capital disadvantage: America’s failing capital investment system. Harvard Business Review, 70, 65-82.
Prasad, S., Green C. & Murinde, V. (2011). Company Financing, Capital Structure, and Ownership: a survey and implications for Development Economic. (12), 22- 28
Rakesh,, S.R. (2014). Online banking applications and community bank performance. The International Journal of Bank Marketing, 26(6), 418-439.
Richard, O., Mcmillan, A., Chadwick, K. & Dwyer, S. (2013). ‘Employing and innovation strategy in racially diverse workforce: effects on firm performance’ Group and Organization Management, 28 (1), 107- 126
Roberts, P. W., & Amit, R. (2013). The Dynamics of Innovative Activity and Competitive Advantage: The case of Australian retail banking, 1981 to 1995. Organization Science, 14 (2), 107-122.
Roberts, P.W. & Amit, R. (2013). ‘The dynamic of innovative activity and competitive advantage: the case of Australian retail banking, 1981, to 1995, organization science, 14, 107- 122
Rogers, E. M. (2012). Diffusion of innovation, 5th ed., Simon and Schuster, New York, NY
Rogers, S. (2012). Performance management in local Government, Longmans, Harlow
Roscoe, J. T. (2012). Fundamental research statistics for the behavioral sciences, New York: Holt.
Rose, P.S. (2013). Commercial Bank Management. 4thedition, Irwin/McGraw-Hill, Boston, USA.
Schumpeter, J. A. (1928). The instability of capitalism. The Economic Journal, September 1928.
Schumpeter, J. A. (1939). Business Cycles. McGraw-Hill: New York. 217
Schumpeter, J., (1934). ‘Theory of Economic Development ‘translated by Reveres Opie Cambridge Mass: Harvard University Press
Schumpeter, J.A. (1934). The Theory of Economic Development. Cambridge, Mass.: Harvard University Press (originally published in German in 1911; reprinted by Transaction Publishers, New Brunswick, New Jersey in 2013).
Siam, A. Z. (2006). Role of the electronic banking services on the profits of Jordanian banks. American Journal of Applied Sciences, 1999-2004. 218
Silber, W. L (2011). The process of Financial Innovation. American Economic Review, vol (73), May
Smith, A. (2013). Quality aspects of services marketing, marketing intelligence & planning, 8, 25-32
Solans, E. D. (2012). Financial innovation and monetary policy. Excerpts of speech delivered at the 38th SEACEN Governors Conference and 22nd Meeting of the SEACEN Board of Governors on "Structural Change and Growth Prospects in Asia –Challenges to Central Banking", Manila (13 February 2003). http://host.uniroma3.it/eventi/wolpertinger2009/37.pd
Solow, R. M. (1957). Technical change and the aggregate production function. Review of Economics and Statistics 39, 312-20.
Stigler, J. E (2012) ‘The Role of the state in financial markets, in proceedings of the World Bank Annual Conference of Development2012, Washington D.C: World Bank, 19- 52
Subramanian, A., Sapra, S., & Subramanian, K. (2009). Corporate governance and innovation: Theory and evidence. Working Paper, University of Chicago.
Tian, X., & Wang, T. (2010). Tolerance for failure and corporate innovation. Working Paper, Indiana University
Tidd, J.,Besant, J. &Pavitt, K.(2011). Managing Innovation; integrating technology, market and organizational change, 2nd edition, John Wiley & Sons Ltd. Westsussex, England
Troy, J.S., Szymanski, L.P. & Varadarajan, D.L. (2011). Linking Product Planning and Process Design Decisions, Decision Sciences, Vol. 23, 44–60.
Tufano, P. (2011). Financial innovation. cited in www.econ.sdu.edu.cn/jrtzx/uploadfile/pdf/books/handbook/10.pdf
Utterback, J. M., & Abernatly, W. J. (2012). A dynamic model process and product innovation. Omega, 3(6), 639–656.
Wang, C. L., & Ahmed, P. K. (2014). The development and validation of the organizational innovativeness construct using confirmatory factor analysis. European Journal of Innovation Management, 7(4), 303-313.
Wang, Y.S., Wang, Y.M., Lin, H.H., & Tang, T.I. (2012). Determinants of user acceptance of internet banking: an empirical study. International Journal of Service Industry Management, 14(5), 501–519.
Wiersma, D. (1995). Research Methods for Organizational Studies. 2nd ed. Lawrence Erlbaum Associates, London, United Kingdom
Winter, D. (2000). Nursing Research: Principles & Methods, 7th Edition, Lippincott, Williams & Wilkins, United States of America
Yasuharu, U. (2012). The Effects of Information System Investment in Banking Industry.
Yildirim, H.S., & Philippatos, G.C. (2007). Competition and contestability in central and eastern European banking markets. Manage. Finance, 33, 195-209
Yin, R., & Zhengzheng, L. (2010). How commercial banks implement financial innovations- A case from retail operation of the Bank of China. http://www.myacme.org/ACMEProceedings09/p22.pdf retrieved in February 2017
Zaltman, G., Duncan, R & Holbek, J. (2012). Innovations and organizations, John Wiley, New York, NY. 48
Zewdia, G.H. (2013). The Effects of Financial Innovation on the Financial Performance of Listed Commercial Banks in Kenya, Unpublished MBA Projects, University of Nairobi.
DOI: http://dx.doi.org/10.61426/sjbcm.v4i2.454
Refbacks
- There are currently no refbacks.
This work is licensed under a Creative Commons Attribution 3.0 License.
PAST ISSUES:
This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License.