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The Impact of Innovative Capabilities and Innovation Types on the Financial Performances of Insurance Companies

The Impact of Innovative Capabilities and Innovation Types on the Financial Performances of Insurance Companies

Tanja Kamenjarska, Mario Spremić, Ivan Miloloža
Copyright: © 2022 |Volume: 14 |Issue: 1 |Pages: 23
ISSN: 1941-627X|EISSN: 1941-6288|EISBN13: 9781683180777|DOI: 10.4018/IJESMA.289634
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MLA

Kamenjarska, Tanja, et al. "The Impact of Innovative Capabilities and Innovation Types on the Financial Performances of Insurance Companies." IJESMA vol.14, no.1 2022: pp.1-23. http://doi.org/10.4018/IJESMA.289634

APA

Kamenjarska, T., Spremić, M., & Miloloža, I. (2022). The Impact of Innovative Capabilities and Innovation Types on the Financial Performances of Insurance Companies. International Journal of E-Services and Mobile Applications (IJESMA), 14(1), 1-23. http://doi.org/10.4018/IJESMA.289634

Chicago

Kamenjarska, Tanja, Mario Spremić, and Ivan Miloloža. "The Impact of Innovative Capabilities and Innovation Types on the Financial Performances of Insurance Companies," International Journal of E-Services and Mobile Applications (IJESMA) 14, no.1: 1-23. http://doi.org/10.4018/IJESMA.289634

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Abstract

The ability to innovate is essential for achieving a competitive position, and digital innovations have become one of the main drivers of competitive advantage. The factors that affect the degree of innovation (innovation efforts, competitive priorities, market strategy, the internal organisational atmosphere) impact the financial performance of insurance companies considering the market conditions. In order to shed some light on that research gap in post-transition countries, survey research has been conducted on a sample of insurance companies in the Republic of North Macedonia. The results obtained from the structural equation modelling analysis, which seeks to determine the structural relationship between the measured variables and the latent constructions, reveal positive effects of innovation performance on the profitability of insurance companies.