The role of universities as the institutional drivers of innovation at the regional level

Abstract

This work assesses and scrutinizes the specific position of the universities and their relevance in fostering the regional development within the context of the globalized economy of the 21st century based on the relevant economic theories as well as the outcomes of the related research studies. Being both the educational as well as the research institutions, universities represent the important drivers that occupy an important position in knowledge-based and innovation-based society with a view to sustainable development at local, regional, national, and global levels. However, the society is sometimes not very much aware of the spectre and variety of services universities provide, or rather the way how the universities help to solve societal or local problems using their position and their activities. With the active cooperation of universities with local and regional governments in place, students have the opportunity to participate in identifying the problems of society and finding appropriate solutions by applying their theoretical knowledge. It is precisely the universities that, as the basis of an innovation system, should be the key for the regional innovation centres. We use a case study of Slovakia to demonstrate how universities can boost the innovative potential and foster the economic success in the competitive and globalized world economy.

Regional cooperation in higher education and research in the Southern and Eastern Mediterranean countries

“…The generation of the new knowledge represents a pole of attraction for businesses striving to benefit from this environment (Aissaoui, 2016;Losonczi et al, 2019). Research literature deals with the effect of higher education and research on economic and institutional development of various countries (Čajka et al, 2023;Horváthová and Čajková, 2018). While the situation in the developed countries has been more or less analyzed in the relevant literature, less attention has been devoted to the role of universities in the less developed countries (Aissaoui, 2016).…”

Environmental Dimension of Corporate Social Responsibility and Earnings Persistence: An Exploration of the Moderator Roles of Operating Efficiency and Financing Cost

“…Relying on the agent theory, the assumption is raised that managers have different incentives from shareholders and seek to maximize their advantage over the short term. Čajka et al (2023) believed that having an executive director from outside the company could be very beneficial for companies [19]. A manager needs to possess specific management skills and be invested in the company's prosperity [20].…”