An examination of the effects of financial and process innovation on the sustainability of businesses under the influence of entrepreneurial leadership: A research in energy companies

Abstract

PurposeCompanies must implement sustainability measures in order to survive due to the relationship between financial, social and environmental performances. These elements must be integrated into the business in a complementary manner in this regard. As a result, this study aims to investigate the effects of entrepreneurial leadership on sustainability, as well as financial and process innovation.Design/methodology/approachWithin the scope of the research, a survey was conducted with 295 white-collar employees working in energy companies. SPSS 25, the LISREL program, and SOBEL analysis were used to determine the relationships between the variables.FindingsIn the research, financial innovation perceptions and process innovation activities have a positive effect on business sustainability and entrepreneurial leadership. As both an independent and a mediating variable, entrepreneurial leadership has a positive impact on business sustainability.Research limitations/implicationsCompanies engaged in renewable energy production, operating in the Marmara region, constitute the sample mass. For this reason, it would be more accurate to evaluate the results obtained in this research only for companies producing renewable energy.Practical implicationsIt is concluded that energy companies should prioritize financial and process innovations and that entrepreneurial leadership is required to ensure the sector's long-term viability.Originality/valueThis paper is an innovative study in terms of the scope and content of the research as data are collected and analyzed from companies that produce renewable energy.