Publications
28 results found
Puglia M, Parker L, Clube RKM, et al., 2024, The circular policy canvas: Mapping the European Union's policies for a sustainable fashion textiles industry, Resources, Conservation and Recycling, Vol: 204, ISSN: 0921-3449
Policy plays a major role in enabling and accelerating the shift to a Circular Economy (CE). Transitioning to a CE in the Fashion Textiles Industry (FTI) requires a holistic policy approach through comprehensive and coherent policy interventions across the resource life cycle. This paper introduces the novel Circular Policy Canvas tool to systematically and visually map CE policies across six dimensions (policy environment, resource life cycle, CE loop, CE strategy, system element and circular business model). This is applied to thirty FTI policies in the EU policy landscape. The canvas enables policymakers and researchers to assess policies to identify gaps and priorities for CE policy development. The findings determine the recency of the EU policy agenda for a circular FTI meaning that there are gaps in terms of coverage and coherence. In particular, the study identifies a lack of attention to displacing the linear economy, a concentration of policies in the head and tail of the resource life cycle with gaps in the core, a dominance of policies in the outer over the inner loop and inadequate coverage of policies focused on actors, infrastructure and resources.
Pinkse J, Demirel P, Marino A, 2024, Unlocking innovation for net zero: constraints, enablers, and firm-level transition strategies, Industry and Innovation: dynamics, strategies, policies, Vol: 31, Pages: 16-41, ISSN: 1366-2716
Transition pathways for net zero encompass seemingly insurmountable innovation challenges for the scaling of less mature technological solutions such as hydrogen, materials substitution, and electrification as well as societal challenges to increase the market acceptability of these solutions. In this article, we present a conceptual framework which provides a firm-level perspective on net-zero innovation which has four unique characteristics, i.e. it is complex, systemic, urgent, and directional. The framework shows that the input, process, and output constraints that incumbent firms face in the net-zero transition can be tackled through four firm-level innovation levers – i.e. recombinative, collaborative, integrative, and socio-cognitive capabilities – which, in concert, act as enablers for firms to address these net-zero constraints. We conclude the article by outlining the framework’s main insights for firms’ innovation strategies for net zero and the policy implications. We also propose avenues for future research on net-zero innovation.
Almukhtar A, Batcup C, Bowman M, et al., 2024, Barriers and facilitators to sustainable operating theatres: a systematic review using the Theoretical Domains Framework, International Journal of Surgery, Vol: 110, Pages: 554-568, ISSN: 1743-9159
Background:The health sector contributes significantly to the climate crisis. Operating theatres in particular are a major contributor of greenhouse gas emissions and waste, and while there are several evidence-based guidelines to reduce this impact, these are often not followed. We systematically reviewed the literature to identify barriers and facilitators of sustainable behaviour in operating theatres, categorising these using the TheoreticalDomains Framework (TDF).Method:Medline, Embase, PsychInfo, and Global Health databases were searched for articles published between January 2000- June 2023, using the concepts: barriers and facilitators, sustainability, and surgery. Two reviewers screened abstracts from identified studies, evaluated quality, and extracted data. Identified determinants weremapped to TDF domains and further themes as required.Findings:Twenty-one studies were selected for analysis and assessment (seventeen surveys and four interview studies) comprising 8286 participants, including surgeons, nurses and anaesthetists. Eighteen themes across ten TDF domains were identified. The mostcommon barriers to adoption of green behaviours in operating theatres were in domains of: ‘knowledge’ (N=18) e.g. knowledge of sustainable practices;‘environmental context and resources’ (N=16) e.g.‘personnel shortage and workload and inadequate recycling facilities; ‘social influences’ (N=9) e.g. lack ofleadership/organisational mandate or support; ‘beliefs about consequences’ (N=9) e.g. concerns regarding safety. Intention was the most common facilitator, with eleven studies citing it.Discussion:Despite intentions to adopt sustainable practices in operating theatres, this review identifies several barriers to doing so. Interventions should focus on mitigating these, especially by improving staff's knowledge of sustainability practices and working within the environmental context and time pressures. Furthermore, inst
Yi Y, Demirel P, 2023, The impact of sustainability-oriented dynamic capabilities on firm growth: investigating the green supply chain management and green political capabilities, Business Strategy and the Environment, Vol: 32, Pages: 5873-5888, ISSN: 0964-4733
Building on the dynamic capabilities literature and natural-resource-based view, the paper examines whether firms can attain sales growth through a range of sustainability-oriented dynamic capabilities including (1) internal green supply chain management capabilities, (2) external green supply chain management capabilities and (3) green political capabilities. Based on a dataset of 277 public US firms between 2010 and 2020, a panel quantile model of firm growth showcases that while internal green supply chain capabilities and green political capabilities affect firms' growth performance positively, external green supply chain capabilities are associated with slower growth. Importantly, the results indicate that the positive growth effects of green political capabilities are short-lived, while those of internal green supply chain capabilities are long-lived. The study contributes to the sustainability-oriented dynamic capabilities literature by showing that different capabilities have different implications for firm growth depending on the firm's base performance and the time periods under consideration.
Wainwright T, Demirel P, 2023, Multiple logics in financialisation? Moving to carbon sustainability in build-to-rent development, Environment and Planning A: Economy and Space, Vol: 55, Pages: 22-45, ISSN: 0308-518X
<jats:p> Real-estate has become an integral part of financialised economies, but while scholars have turned to examine the emergence of carbon markets, the role of carbon in real-estate finance has been broadly overlooked. Real-estate as a sector has been historically slow to innovate, particularly in response to pressure from climate change. More recently, the attitude of UK build-to-rent (BTR) developers to carbon is changing, partly due to global initiatives including the United Nation's Sustainable Development Goals (UNSDGs), but also pressure from institutional investors. In this paper, we provide nuanced insight into the emergence of new logics within financialisation's governance in the UK BTR sector and examine how investors attempt to steer developers into adopting low carbon building materials and designs, while identifying barriers. First, we highlight the multiplicity of financialisation's logics wrapped within assets, highlighting the presence of a carbon logic, which creates pressure for low-carbon activity. Second, we contribute to debates on assetisation and financialisation by examining the tools and knowledge used to create low-carbon real-estate assets, and how carbon attributes are ‘retrofitted’ into existing asset classes. </jats:p>
Demirel P, Nemkova E, Taylor R, 2021, Reproducing global inequalities in the online labour market: valuing capital in the design field, Work, Employment and Society, Vol: 35, Pages: 914-930, ISSN: 0950-0170
Millions of freelancers work on digital platforms in the online labour market (OLM). The OLM’s capacity to both undermine and reproduce labour inequalities is a theme in contemporary platform economy debates. What is less well understood is how processes of social (re)production take place in practice for diverse freelancers on global platforms. Drawing on a study of freelance designers, we use Bourdieu’s notions of capital and field to explore the specific ‘rules of the game’ and the symbolic valuing of skills and identities that secure legitimacy and advantage in the OLM. We contribute to contemporary debates by illuminating the power of Global North actors to shape freelancer positions and hierarchies in the online design field. The ‘cost advantages’ of Global South workers are counterbalanced by the symbolic legitimising of specific cultural and social practices (specifically in relation to language) and the devaluing of others.
Demirel P, Danisman GO, 2019, Eco-innovation and firm growth in the circular economy: evidence from European small‐ and medium‐sized enterprises, Business Strategy and the Environment, Vol: 28, Pages: 1608-1618, ISSN: 0964-4733
As the circular economy (CE) concept gains growing popularity among consumers and producers, small and medium-sized enterprises (SME) increasingly look for ways to reorganize their offering and operations to integrate into the CE. This study examines the impact of (1) circular eco-innovations and (2) external funding available for CE activities on the growth of European SMEs using a dataset of 5100 SMEs across 28 European countries in 2016. Findings reveal that a significant threshold investment (i.e. higher than 10% of revenues) into circular eco-innovations is required for SMEs to benefit from investing into the CE. Moreover, the majority of circular eco-innovations fail to boost the growth rates of SMEs, with the exception of investments into eco-design innovations. While traditional forms of debt and grant finance targeted to CE activities are found to have no or negative impact on the growth of SMEs, equity finance (i.e. angel and venture capital investments) contributes positively to their growth. The study offers insights into the lower levels of SME engagement in the CE as well as policy implications for improving engagement.
Nemkova E, Demirel P, Baines L, 2019, In search of meaningful work on digital freelancing platforms: the case of design professionals, New Technology, Work and Employment, Vol: 34, Pages: 226-243, ISSN: 0268-1072
Growth of the platform economy has been accompanied by critiques of the fragmented, isolated and precarious nature of the employment it offers. Yet, little is known about how creative freelancers perceive the meaning of work on the platforms. Based on 40 interviews with freelancers, clients, platform owners and industry experts, this paper reveals that most freelancers are concerned about how operating through the platform, and their dependence on it, is undermining the meaningfulness of their work. Freelancers find that the platforms are eroding both the manifest (i.e. monetary) and latent (i.e. non‐monetary) meaning of their work although they are mostly concerned about the latent element of meaning. The analysis reveals that the small group of freelancers who pursue meaningful work and earn a sustainable income on platforms are those with strong entrepreneurial orientation.
Demirel P, Kesidou E, 2019, Sustainability-oriented capabilities for eco-innovation: meeting the regulatory, technology and market demands, Business Strategy and the Environment, Vol: 28, Pages: 847-857, ISSN: 0964-4733
Despite consensus in the literature that regulation, technology-push and market-pull drive eco-innovation (EI), evidence remains limited on the diverse firm capabilities needed to boost EI. Building on the natural-resource-based-view (NRBV) of the firm and the EI literature, this paper posits that firms need to renew and realign their capabilities, and ultimately develop distinctive sustainability-oriented capabilities, in order to meet the rapidly changing regulatory, technology, and market demands. Results of the analysis, based on a survey of UK firms, reveal that eco-innovations are more likely to arise when firms: (a) build capabilities on voluntary self-regulation (i.e. executive driven EMS and CSR) because such organisational capabilities allow them to address increasing regulatory pressures; (b) invest in environmental research and development (i.e. eco-R&D)- instead of generic research and development- because it provides them with the relevant and specific technological capabilities to tackle technology shifts towards sustainability; and (c) develop capabilities in green market sensing as such capabilities allow them to address green consumption needs.
Demirel P, Li QC, Rentocchini F, et al., 2019, Born to be green: new insights into the economics and management of green entrepreneurship, Small Business Economics: an international journal, Vol: 52, Pages: 759-771, ISSN: 0921-898X
While the number of green start-ups has steadily increased around the world in response to the environmental problems demanding immediate solutions, there are several unresolved questions on the behaviour and performance of such ventures. The papers in this special issue shed light on these issues by underscoring the role of several factors, such as industry life cycles, knowledge spillovers, institutions, and availability of external finance, in shaping decision-making and firm behaviour in green start-ups. This paper highlights the state-of-the-art developments in the literature, discusses the key contributions of the papers put together in this special issue, and presents a future research agenda for scholars interested in green entrepreneurship.
Danisman GO, Demirel P, 2019, Bank risk-taking in developed countries: The influence of market power and bank regulations, Journal of International Financial Markets, Institutions and Money, Vol: 59, Pages: 202-217, ISSN: 1042-4431
Using a sample of 6936 banks in 25 developed countries between 2007 and 2015, the paper explores the impact of market power and bank regulatory variables, such as capital stringency, restrictions in activities and the power of supervisory agencies, on bank stability. Various dimensions of bank risk exposures are considered. and the findings reveal that higher market power in banking decreases the risky behavior of banks, confirming that the competition-fragility view holds. Capital requirements are the strongest regulatory tool for decreasing bank risk, and they decrease bank risk more for banks with more market power. Higher activity restrictions strongly increase bank risk for developed markets, even though the increase in riskiness is mitigated for banks with higher market power. While powerful supervisory agencies, in general, lead to an increase in bank risk, this increase is exacerbated for higher market-powered banks.
Danisman GO, Demirel P, 2019, Corporate risk management practices and firm value in an emerging market: a mixed methods approach, Risk Management, Vol: 47, Pages: 19-47, ISSN: 1460-3799
This paper examines the impact of corporate risk management strategies, namely, (1) financial, (2) operational, and (3) enterprise risk management on firm value in the context of an emerging market, Turkey. We use a unique hand-collected sample of non-financial Turkish companies for the years 2010–2015 and use mixed research methods to gain insights into the complex relationship between risk management and firm value. The quantitative methodology is accompanied by a follow up qualitative study that involves in-depth interviews with selected finance and risk management professionals. Results surprisingly reveal that none of the three risk management strategies increase firm value. We explore how the different institutional circumstances surrounding firms moderate the relationship between risk management and firm value and derive some policy implications for authorities in emerging markets regarding improving disclosures on risk management and corporate governance.
Demirel P, Iatridis K, Kesidou E, 2018, The impact of regulatory complexity upon self-regulation: Evidence from the adoption and certification of environmental management systems, Journal of Environmental Management, Vol: 207, Pages: 80-91, ISSN: 0301-4797
Al-Mataani R, Wainwright T, Demirel P, 2017, Hidden Entrepreneurs: Informal Practices within the Formal Economy, EUROPEAN MANAGEMENT REVIEW, Vol: 14, Pages: 361-376, ISSN: 1740-4754
Gregory-Smith D, Manika D, Demirel P, 2017, Green intentions under the blue flag: Exploring differences in EU consumers' willingness to pay more for environmentally-friendly products, BUSINESS ETHICS-A EUROPEAN REVIEW, Vol: 26, Pages: 205-222, ISSN: 0962-8770
Abreu M, Demirel P, Grinevich V, et al., 2016, Entrepreneurial practices in research-intensive and teaching-led universities, SMALL BUSINESS ECONOMICS, Vol: 47, Pages: 695-717, ISSN: 0921-898X
Corradini C, Demirel P, Battisti G, 2016, Technological diversification within UK's small serial innovators, SMALL BUSINESS ECONOMICS, Vol: 47, Pages: 163-177, ISSN: 0921-898X
Corradini C, Battisti G, Demirely P, 2016, Serial innovators in the UK: Does size matter?, Industrial and Corporate Change, Vol: 25, Pages: 23-47, ISSN: 0960-6491
This article aims to shed light on the presence and importance of a significant number of small firms amongst serial innovators. Contrary to the common expectation in the innovative persistence literature, we posit that small serial innovators also benefit from operating within patterns of creative accumulation. However, it is in the quality of the technology and in the very nature of the knowledge accumulation process that the differences between small and large serial innovators can be found. Using a sample of 811 UK-based, highly innovative companies that patented over 66,000 inventions from 1990 to 2006, we find evidence in support of our theory. While large serial innovators experience higher innovation rates due to the scale of their innovation efforts, small serial innovators benefit more from processes of search depth characterized by the internal recombination of their previous knowledge. We find that important differences exist also in the very nature of the technologies being developed by small and large serial innovators.
Demirel P, Parris S, 2015, Access to finance for innovators in the UK's environmental sector, TECHNOLOGY ANALYSIS & STRATEGIC MANAGEMENT, Vol: 27, Pages: 782-808, ISSN: 0953-7325
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- Citations: 34
Demirel P, Mazzucato M, 2013, Innovation and economic performance (industrial and financial): Recent results and questions for future research, Innovation and Finance, Pages: 46-68, ISBN: 9780203797747
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- Citations: 7
Demirel P, Mazzucato M, 2013, Innovation and economic performance (industrial and financial): Recent results and questions for future research, Innovation and Finance, Pages: 46-68, ISBN: 9780415696852
The empirical evidence on the impact of innovations for profits and firm growth (indicators of firm performance in industrial markets) is mostly mixed, particularly for the latter. Geroski et al. (1993) find a small positive impact upon profit margins for a firm’s successful innovations, while Geroski and Machin (1992) point out the persistent and significant differences in profitability of innovators and non-innovators, and Freel (2000) argues that such profitability differences between the groups of firms are contingent upon several factors, such as firm size and industry characteristics. Leiponen (2000) also finds persistent differences in determinants of profitability for innovators and non-innovators. Factors such as patenting and educational competencies positively affect the profitability of innovators, while such factors have no significant (or even negative) effects upon the profits of non-innovators. In a sample of UK firms, Stoneman and Kwon (1996) find that those firms which fail to adopt new technologies experience reduced profits, while the adopters of new technologies gain an annual gross profit of 11% above the mean profit of the sample firms. While there seems to be a relationship between innovation and profitability, these studies fail to consistently establish the exact nature of the relationship. Contradictory findings also exist, such as in Robson and Bennett (2000), who find no evidence of higher profitability for a sample of innovating small UK firms. As far as the firm growth empirical literature is concerned, we find even more mixed results. While some studies confirm that firms which are more innovative experience more growth, others fail to identify such a clear relationship. Adamou and Sasidharan (2007) find that firms which have higher R&D intensity ratios (i.e. R&D/sales) grow faster. Also, Yasuda (2005) shows that R&D expenditures per employee have a positive impact upon firm growth. Yang and Huang’s (2005) work
Demirel P, Kesidou E, 2013, The impact of environmental regulation frameworks and firm-level factors on eco-innovations: evidence from DEFRA survey of UK manufacturing firms, GOVERNANCE, REGULATION AND INNOVATION: THEORY AND EVIDENCE FROM FIRMS AND NATIONS, Editors: Ugur, Publisher: EDWARD ELGAR PUBLISHING LTD, Pages: 149-181
Kesidou E, Demirel P, 2012, On the drivers of eco-innovations: Empirical evidence from the UK, RESEARCH POLICY, Vol: 41, Pages: 862-870, ISSN: 0048-7333
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- Citations: 450
Lancheros S, Demirel P, 2012, Does Finance Play a Role in Exporting for Service Firms? Evidence from India, WORLD ECONOMY, Vol: 35, Pages: 44-60, ISSN: 0378-5920
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- Citations: 23
Demirel P, Mazzucato M, 2012, Innovation and Firm Growth: Is R&D Worth It?, INDUSTRY AND INNOVATION, Vol: 19, Pages: 45-62, ISSN: 1366-2716
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- Citations: 100
Demirel P, Kesidou E, 2011, Stimulating different types of eco-innovation in the UK: Government policies and firm motivations, ECOLOGICAL ECONOMICS, Vol: 70, Pages: 1546-1557, ISSN: 0921-8009
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- Citations: 294
Parris S, Demirel P, 2010, Innovation in venture capital backed clean-technology firms in the UK, Strategic Change, Vol: 19, Pages: 343-357
The venture capital sector may not be supportive of radical new clean-technology innovation: a potential concern for the UK's vision of achieving a low carbon economy.
Demirel P, Mazzucato M, 2010, The Evolution of Firm Growth Dynamics in the US Pharmaceutical Industry, REGIONAL STUDIES, Vol: 44, Pages: 1053-1066, ISSN: 0034-3404
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- Citations: 8
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