The Impact of Digitalization in Supporting the Performance of Circular Economy: A Case Study of Greece

Stavros Kalogiannidis (), Dimitrios Kalfas, Fotios Chatzitheodoridis and Stamatis Kontsas
Additional contact information
Dimitrios Kalfas: Department of Agriculture, Faculty of Agricultural Sciences, University of Western Macedonia, 53100 Florina, Greece
Stamatis Kontsas: Department of Business Administration, University of Western Macedonia, 51100 Grevena, Greece

JRFM, 2022, vol. 15, issue 8, 1-18

Abstract: Digitalization has the potential to hasten the economic transition towards a more resource-efficient as well as robust circular production system. However, there is a paucity of empirical research on the influence that digitalization has on the ability of a circular economy to function effectively. The objective of this study was to investigate the effect that digitalization has on the performance of the circular economy. The research was based on an empirical analysis of quantitative data obtained from a sample size of 200 investors and entrepreneurs in the financial sector of Kozani, Greece. Regression results showed that there is a positive relationship between digital practices and performance of a circular economy, and that digital business innovations have a positive effect on performance of a circular economy. Even while a sizeable proportion of Greek companies apply new business innovations to support the strategy of resource efficiency, it is abundantly obvious that this percentage is far higher among industrial organizations that place a heavy focus on digitalization. According to the findings of the research, there is a favorable correlation between the adoption of digital business practices and innovations and the success of circular economies. This demonstrates very clearly that digitalization has the potential to function as a driving force behind the development of circular business models.

Keywords: circular economy; digitalization; product–service systems; digital innovations; resource efficiency (search for similar items in EconPapers)
JEL-codes: C E F2 F3 G (search for similar items in EconPapers)
Date: 2022
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (7)

Downloads: (external link)
https://www.mdpi.com/1911-8074/15/8/349/pdf (application/pdf)
https://www.mdpi.com/1911-8074/15/8/349/ (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:gam:jjrfmx:v:15:y:2022:i:8:p:349-:d:882220

Access Statistics for this article

JRFM is currently edited by Ms. Chelthy Cheng

More articles in JRFM from MDPI
Bibliographic data for series maintained by MDPI Indexing Manager ().