Mechanism of innovation and standardization driving company competitiveness in the digital economy
Abstract
Data have changed the characteristics of the global value chain in the context of digital economy. Standards and innovation are the key facilitators of digital economy. Considering the collaborative development of innovation and standardization, this paper constructs a theoretical model of the impact of innovation and standardization levels on company competitiveness. Furthermore, the moderating effect of the coupling coordination of innovation and standardization was analyzed for both factors. In total, 171 listed companies in the field of digital economy were selected as the research. The results indicated that a company’s level of innovation and standardization influences company competitiveness. Moreover, the relationship between innovation and standardization was found to be a coordinating development relationship and not a conventional promotion or hindrance. This article also proposed some pertinent suggestions for companies involved in the global value chain competition.
Keyword : technological innovation, standardization, coupling coordination, digital economy, competitiveness, listed company
How to Cite
Yang, J., Zhou, L., Qu, Y., Jin, X., & Fang, S. (2023). Mechanism of innovation and standardization driving company competitiveness in the digital economy. Journal of Business Economics and Management, 24(1), 54–73. https://doi.org/10.3846/jbem.2023.17192
This work is licensed under a Creative Commons Attribution 4.0 International License.
References
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Baron, J., & Spulber, D. F. (2018). Technology standards and standard setting organizations: Introduction to the Searle Center database. Journal of Economics & Management Strategy, 27(3), 462–503. https://doi.org/10.1111/jems.12257
Blind, K. (2002). Driving forces for standardization at standardization development organizations. Applied Economics, 34(16), 1985–1998. https://doi.org/10.1080/00036840110111158
Blind, K. (2004). The economics of standards: Theory, evidence, policy. Edward Elgar Publishing.
Blind, K., & Gauch, S. (2009). Research and standardisation in nanotechnology: Evidence from Germany. The Journal of Technology Transfer, 34(3), 320–342. https://doi.org/10.1007/s10961-008-9089-8
Blind, K., & Rauber, J. (2016). Drivers for companies’ entry into standardization. https://wwws.law.northwestern.edu/research-faculty/clbe/events/innovation/documents/blind_rauber_entry_searle2016_final.pdf
Bourlès, R., Cette, G., Lopez, J., Mairesse, J., & Nicoletti, G. (2013). Do product market regulations in upstream sectors curb productivity growth? Panel data evidence for OECD countries. The Review of Economics and Statistics, 95(5), 1750–1768. https://doi.org/10.1162/REST_a_00338
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Bukht, R., & Heeks, R. (2017). Defining, conceptualising and measuring the digital economy (Development Informatics Working Paper No. 68). https://doi.org/10.2139/ssrn.3431732
Castellacci, F., & Natera, J. M. (2013). The dynamics of national innovation systems: A panel cointegration analysis of the coevolution between innovative capability and absorptive capacity. Research Policy, 42(3), 579–594. https://doi.org/10.1016/j.respol.2012.10.006
Chen, C. (2006). CiteSpace II: Detecting and visualizing emerging trends and transient patterns in scientific literature. Journal of the American Society for Information Science and Technology, 57(3), 359–377. https://doi.org/10.1002/asi.20317
Chen, Y. (2020). Improving market performance in the digital economy. China Economic Review, 62, 101482. https://doi.org/10.1016/j.chieco.2020.101482
China Academy of Information and Communications Technology. (2020). A new vision of the Global Digital Economy (2020) – New driver of sustainable development under great changes. CAICT.
Choi, D. G., Lee, H., & Sung, T. (2011). Research profiling for “standardization and innovation”. Scientometrics, 88(1), 259–278. https://doi.org/10.1007/s11192-011-0344-7
Chursin, A., Vlasov, Y., & Makarov, Y. (2016). Innovation as a basis for competitiveness. Theory and practice. Springer Cham. https://doi.org/10.1007/978-3-319-40600-8
David, P. A. (1985). Clio and the economics of QWERTY. The American Economic Review, 75(2), 332–337.
de Vries, H. J., & Verhagen, W. P. (2016). Impact of changes in regulatory performance standards on innovation: A case of energy performance standards for newly-built houses. Technovation, 48–49, 56–68. https://doi.org/10.1016/j.technovation.2016.01.008
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Doğan, E. (2016). The effect of innovation on competitiveness. Istanbul University Econometrics and Statistics e-Journal, 24, 60–81. https://dergipark.org.tr/en/download/article-file/268727
Dziallas, M., & Blind, K. (2019). Innovation indicators throughout the innovation process: An extensive literature analysis. Technovation, 80–81, 3–29. https://doi.org/10.1016/j.technovation.2018.05.005
Fernandez, E., Montes, J. M., & Vázquez, C. J. (2000). Typology and strategic analysis of intangible resources: A resource-based approach. Technovation, 20(2), 81–92. https://doi.org/10.1016/S0166-4972(99)00115-7
Furman, J. L., & Hayes, R. (2004). Catching up or standing still?: National innovative productivity among “follower” countries, 1978–1999. Research Policy, 33(9), 1329–1354. https://doi.org/10.1016/j.respol.2004.09.006
Gawer, A., & Cusumano, M. A. (2014). Industry platforms and ecosystem innovation: Platforms and innovation. Journal of Product Innovation Management, 31(3), 417–433. https://doi.org/10.1111/jpim.12105
Goluchowicz, K., & Blind, K. (2011). Identification of future fields of standardisation: An explorative application of the Delphi methodology. Technological Forecasting and Social Change, 78(9), 1526–1541. https://doi.org/10.1016/j.techfore.2011.04.014
Hanna, N. K. (2016). Mastering digital transformation: Towards a smarter society, economy, city and nation. Emerald Group Publishing. https://doi.org/10.1108/978-1-78560-465-220151009
Hanseth, O., Monteiro, E., & Hatling, M. (1996). Developing information infrastructure: The tension between standardization and flexibility. Science, Technology, & Human Values, 21(4), 407–426. https://doi.org/10.1177/016224399602100402
Hashi, I., & Stojčić, N. (2013). The impact of innovation activities on firm performance using a multi-stage model: Evidence from the Community Innovation Survey 4. Research Policy, 42(2), 353–366. https://doi.org/10.1016/j.respol.2012.09.011
Hussain, A., & Khan, S. (2013). International marketing strategy: Standardization versus adaptation. Management and Administrative Sciences Review, 2(4), 353–359.
Jiang, H., Zhao, S., Li, Z., & Chen, Y. (2016). Interaction between technology standardization and technology development: A coupling effect study. Information Technology and Management, 17(3), 229–243. https://doi.org/10.1007/s10799-015-0215-7
Jiao, S., & Sun, Q. (2021). Digital economic development and its impact on econimic growth in China: Research based on the prespective of sustainability. Sustainability, 13(18), 10245. https://doi.org/10.3390/su131810245
Kartiwi, M., & MacGregor, R. C. (2007). Electronic commerce adoption barriers in Small to Medium-Sized Enterprises (SMEs) in developed and developing countries: A cross-country comparison. Journal of Electronic Commerce in Organizations, 5(3), 35–51. https://doi.org/10.4018/jeco.2007070103
Katz, J. A., & Safranski, S. (2003). Standardization in the midst of innovation: Structural implications of the Internet for SMEs. Futures, 35(4), 323–340. https://doi.org/10.1016/S0016-3287(02)00084-8
Lavie, D. (2006). The competitive advantage of interconnected firms: An extension of the resource-based view. Academy of Management Review, 31(3), 638–658. https://doi.org/10.5465/amr.2006.21318922
Lee, H., & Oh, S. (2006). A standards war waged by a developing country: Understanding international standard setting from the actor-network perspective. The Journal of Strategic Information Systems, 15(3), 177–195. https://doi.org/10.1016/j.jsis.2005.10.002
Li, E., & Cui, Z. (2018). Coupling coordination between China’s regional innovation capability and economic development. Scientia Geographica Sinica, 38(09), 1412–1421. https://doi.org/10.13249/j.cnki.sgs.2018.09.003
Miotti, H. (2009). The economic impact of standardization. Technological change, standards growth in France. https://normalisation.afnor.org/wp-content/uploads/2016/06/Etude-ImpactEcoNorm-GB2009.pdf
Narayanan, V. K., & Chen, T. (2012). Research on technology standards: Accomplishment and challenges. Research Policy, 41(8), 1375–1406. https://doi.org/10.1016/j.respol.2012.02.006
Oostrom, L., Walker, A. N., Staats, B., Slootbeek-Van Laar, M., Ortega Azurduy, S., & Rooijakkers, B. (2016). Measuring the internet economy in the Netherlands: A big data analysis. CBS. Statistics Netherlands.
Porter, M. E. (1998). Clusters and the new economics of competition. In Harvard Business Review (pp. 77–90). https://hbr.org/1998/11/clusters-and-the-new-economics-of-competition
Riillo, C. A. (2013). Profiles and motivations of standardization players. International Journal of IT Standards and Standardization Research (IJITSR), 11(2), 17–33. https://doi.org/10.4018/jitsr.2013070102
Romer, P. M. (1990). Endogenous technological change. Journal of Political Economy, 98(5, Part 2), S71–S102. https://doi.org/10.1086/261725
Sanders, T. R. B. (1972). The aims and principles of standardization. International Organization for Standardization.
Shin, D.-H., Kim, H., & Hwang, J. (2015). Standardization revisited: A critical literature review on standards and innovation. Computer Standards & Interfaces, 38, 152–157. https://doi.org/10.1016/j.csi.2014.09.002
Solow, R. M. (1957). Technical change and the aggregate production function. The Review of Economics and Statistics, 39(3), 312–320. https://doi.org/10.2307/1926047
Sturgeon, T. J. (2019). Upgrading strategies for the digital economy. Global Strategy Journal, 1364. https://doi.org/10.1002/gsj.1364
Sturgeon, T., Van Biesebroeck, J., & Gereffi, G. (2008). Value chains, networks and clusters: Reframing the global automotive industry. Journal of Economic Geography, 8(3), 297–321. https://doi.org/10.1093/jeg/lbn007
Swann, G. M. P. (2010). The economics of standardization: An update. Innovative Economics Limited.
Szeles, M. R., & Simionescu, M. (2020). Regional patterns and drivers of the EU digital economy. Social Indicators Research, 150(1), 95–119. https://doi.org/10.1007/s11205-020-02287-x
Tassey, G. (2000). Standardization in technology-based markets. Research Policy, 29(4), 587–602. https://doi.org/10.1016/S0048-7333(99)00091-8
Teece, D. J. (1986). Profiting from technological innovation: Implications for integration, collaboration, licensing and public policy. Research Policy, 15(6), 285–305. https://doi.org/10.1016/0048-7333(86)90027-2
Teece, D. J. (2017). Towards a capability theory of (innovating) firms: Implications for management and policy. Cambridge Journal of Economics, 41(3), 693–720. https://doi.org/10.1093/cje/bew063
United Nations Conference on Trade and Development. (2019). Digital economy report 2019. Value creation and capture: Implications for developing countries. UNCTAD. United Nations publication.
Wen, J., & Zeng, D. (2019). Alliance portfolio configuration and firm’s technology standardization capability. Studies in Science of Science, 37(07), 1277–1285. https://doi.org/10.16192/j.cnki.1003-2053.2019.07.014
Yang, J., Jin, X., Le, W., & Sheng, F. (2021). Exploring service quality model from the perspective of sensory perception. Total Quality Management and Business Excellence, 32(13–14), 1548–1568. https://doi.org/10.1080/14783363.2020.1747425
Yang, J., Shao, L., Jin, X., & Zhou, L. (2022). Impact of coupling of technological innovation and standardisation on industrial development: An empirical study of high-tech industry. International Journal of Emerging Markets. https://doi.org/10.1108/IJOEM-05-2021-0758
Yang, J., Vargas, L. G., Jin, X., & Zhou, L. (2020). Quality credit evaluation in the internet company: A system based on the analytic hierarchy process. Journal of Business Economics and Management, 21(2), 344–372. https://doi.org/10.3846/jbem.2020.11409
Yu, X. (2008). Standardization and economic growth – Theory, demonstration and case. China Standards Press.
Zoo, H., de Vries, H. J., & Lee, H. (2017). Interplay of innovation and standardization: Exploring the relevance in developing countries. Technological Forecasting and Social Change, 118, 334–348. https://doi.org/10.1016/j.techfore.2017.02.033
Zou, S., Zou, Z., & Zeng, D. (2020). Impact of competition-complementarity of collaborative R&D network on enterprise’s technology standardization capability. Studies in Science of Science, 38(1), 97–104.
Akis, E. (2015). Innovation and competitive power. Procedia-Social and Behavioral Sciences, 195, 1311–1320. https://doi.org/10.1016/j.sbspro.2015.06.304
Amuso, V., Poletti, G., & Montibello, D. (2020). The digital economy: Opportunities and challenges. Global Policy, 11(1), 124–127. https://doi.org/10.1111/1758-5899.12745
Arnold, N., & Hasse, R. (2015). Escalation of governance: Effects of voluntary standardization on organizations, markets and standards in Swiss fair trade. Sociological Research Online, 20(3), 94–109. https://doi.org/10.5153/sro.3734
Baron, J., & Spulber, D. F. (2018). Technology standards and standard setting organizations: Introduction to the Searle Center database. Journal of Economics & Management Strategy, 27(3), 462–503. https://doi.org/10.1111/jems.12257
Blind, K. (2002). Driving forces for standardization at standardization development organizations. Applied Economics, 34(16), 1985–1998. https://doi.org/10.1080/00036840110111158
Blind, K. (2004). The economics of standards: Theory, evidence, policy. Edward Elgar Publishing.
Blind, K., & Gauch, S. (2009). Research and standardisation in nanotechnology: Evidence from Germany. The Journal of Technology Transfer, 34(3), 320–342. https://doi.org/10.1007/s10961-008-9089-8
Blind, K., & Rauber, J. (2016). Drivers for companies’ entry into standardization. https://wwws.law.northwestern.edu/research-faculty/clbe/events/innovation/documents/blind_rauber_entry_searle2016_final.pdf
Bourlès, R., Cette, G., Lopez, J., Mairesse, J., & Nicoletti, G. (2013). Do product market regulations in upstream sectors curb productivity growth? Panel data evidence for OECD countries. The Review of Economics and Statistics, 95(5), 1750–1768. https://doi.org/10.1162/REST_a_00338
Brunsson, N., Rasche, A., & Seidl, D. (2012). The dynamics of standardization: Three perspectives on standards in organization studies. Organization Studies, 33(5–6), 613–632. https://doi.org/10.1177/0170840612450120
Bukht, R., & Heeks, R. (2017). Defining, conceptualising and measuring the digital economy (Development Informatics Working Paper No. 68). https://doi.org/10.2139/ssrn.3431732
Castellacci, F., & Natera, J. M. (2013). The dynamics of national innovation systems: A panel cointegration analysis of the coevolution between innovative capability and absorptive capacity. Research Policy, 42(3), 579–594. https://doi.org/10.1016/j.respol.2012.10.006
Chen, C. (2006). CiteSpace II: Detecting and visualizing emerging trends and transient patterns in scientific literature. Journal of the American Society for Information Science and Technology, 57(3), 359–377. https://doi.org/10.1002/asi.20317
Chen, Y. (2020). Improving market performance in the digital economy. China Economic Review, 62, 101482. https://doi.org/10.1016/j.chieco.2020.101482
China Academy of Information and Communications Technology. (2020). A new vision of the Global Digital Economy (2020) – New driver of sustainable development under great changes. CAICT.
Choi, D. G., Lee, H., & Sung, T. (2011). Research profiling for “standardization and innovation”. Scientometrics, 88(1), 259–278. https://doi.org/10.1007/s11192-011-0344-7
Chursin, A., Vlasov, Y., & Makarov, Y. (2016). Innovation as a basis for competitiveness. Theory and practice. Springer Cham. https://doi.org/10.1007/978-3-319-40600-8
David, P. A. (1985). Clio and the economics of QWERTY. The American Economic Review, 75(2), 332–337.
de Vries, H. J., & Verhagen, W. P. (2016). Impact of changes in regulatory performance standards on innovation: A case of energy performance standards for newly-built houses. Technovation, 48–49, 56–68. https://doi.org/10.1016/j.technovation.2016.01.008
Deng, Z. (2020). Analysis of the advantages and disadvantages of China digital economy development based on the industrial division of labor. Economic Review Journal, 4, 67–76.
Doğan, E. (2016). The effect of innovation on competitiveness. Istanbul University Econometrics and Statistics e-Journal, 24, 60–81. https://dergipark.org.tr/en/download/article-file/268727
Dziallas, M., & Blind, K. (2019). Innovation indicators throughout the innovation process: An extensive literature analysis. Technovation, 80–81, 3–29. https://doi.org/10.1016/j.technovation.2018.05.005
Fernandez, E., Montes, J. M., & Vázquez, C. J. (2000). Typology and strategic analysis of intangible resources: A resource-based approach. Technovation, 20(2), 81–92. https://doi.org/10.1016/S0166-4972(99)00115-7
Furman, J. L., & Hayes, R. (2004). Catching up or standing still?: National innovative productivity among “follower” countries, 1978–1999. Research Policy, 33(9), 1329–1354. https://doi.org/10.1016/j.respol.2004.09.006
Gawer, A., & Cusumano, M. A. (2014). Industry platforms and ecosystem innovation: Platforms and innovation. Journal of Product Innovation Management, 31(3), 417–433. https://doi.org/10.1111/jpim.12105
Goluchowicz, K., & Blind, K. (2011). Identification of future fields of standardisation: An explorative application of the Delphi methodology. Technological Forecasting and Social Change, 78(9), 1526–1541. https://doi.org/10.1016/j.techfore.2011.04.014
Hanna, N. K. (2016). Mastering digital transformation: Towards a smarter society, economy, city and nation. Emerald Group Publishing. https://doi.org/10.1108/978-1-78560-465-220151009
Hanseth, O., Monteiro, E., & Hatling, M. (1996). Developing information infrastructure: The tension between standardization and flexibility. Science, Technology, & Human Values, 21(4), 407–426. https://doi.org/10.1177/016224399602100402
Hashi, I., & Stojčić, N. (2013). The impact of innovation activities on firm performance using a multi-stage model: Evidence from the Community Innovation Survey 4. Research Policy, 42(2), 353–366. https://doi.org/10.1016/j.respol.2012.09.011
Hussain, A., & Khan, S. (2013). International marketing strategy: Standardization versus adaptation. Management and Administrative Sciences Review, 2(4), 353–359.
Jiang, H., Zhao, S., Li, Z., & Chen, Y. (2016). Interaction between technology standardization and technology development: A coupling effect study. Information Technology and Management, 17(3), 229–243. https://doi.org/10.1007/s10799-015-0215-7
Jiao, S., & Sun, Q. (2021). Digital economic development and its impact on econimic growth in China: Research based on the prespective of sustainability. Sustainability, 13(18), 10245. https://doi.org/10.3390/su131810245
Kartiwi, M., & MacGregor, R. C. (2007). Electronic commerce adoption barriers in Small to Medium-Sized Enterprises (SMEs) in developed and developing countries: A cross-country comparison. Journal of Electronic Commerce in Organizations, 5(3), 35–51. https://doi.org/10.4018/jeco.2007070103
Katz, J. A., & Safranski, S. (2003). Standardization in the midst of innovation: Structural implications of the Internet for SMEs. Futures, 35(4), 323–340. https://doi.org/10.1016/S0016-3287(02)00084-8
Lavie, D. (2006). The competitive advantage of interconnected firms: An extension of the resource-based view. Academy of Management Review, 31(3), 638–658. https://doi.org/10.5465/amr.2006.21318922
Lee, H., & Oh, S. (2006). A standards war waged by a developing country: Understanding international standard setting from the actor-network perspective. The Journal of Strategic Information Systems, 15(3), 177–195. https://doi.org/10.1016/j.jsis.2005.10.002
Li, E., & Cui, Z. (2018). Coupling coordination between China’s regional innovation capability and economic development. Scientia Geographica Sinica, 38(09), 1412–1421. https://doi.org/10.13249/j.cnki.sgs.2018.09.003
Miotti, H. (2009). The economic impact of standardization. Technological change, standards growth in France. https://normalisation.afnor.org/wp-content/uploads/2016/06/Etude-ImpactEcoNorm-GB2009.pdf
Narayanan, V. K., & Chen, T. (2012). Research on technology standards: Accomplishment and challenges. Research Policy, 41(8), 1375–1406. https://doi.org/10.1016/j.respol.2012.02.006
Oostrom, L., Walker, A. N., Staats, B., Slootbeek-Van Laar, M., Ortega Azurduy, S., & Rooijakkers, B. (2016). Measuring the internet economy in the Netherlands: A big data analysis. CBS. Statistics Netherlands.
Porter, M. E. (1998). Clusters and the new economics of competition. In Harvard Business Review (pp. 77–90). https://hbr.org/1998/11/clusters-and-the-new-economics-of-competition
Riillo, C. A. (2013). Profiles and motivations of standardization players. International Journal of IT Standards and Standardization Research (IJITSR), 11(2), 17–33. https://doi.org/10.4018/jitsr.2013070102
Romer, P. M. (1990). Endogenous technological change. Journal of Political Economy, 98(5, Part 2), S71–S102. https://doi.org/10.1086/261725
Sanders, T. R. B. (1972). The aims and principles of standardization. International Organization for Standardization.
Shin, D.-H., Kim, H., & Hwang, J. (2015). Standardization revisited: A critical literature review on standards and innovation. Computer Standards & Interfaces, 38, 152–157. https://doi.org/10.1016/j.csi.2014.09.002
Solow, R. M. (1957). Technical change and the aggregate production function. The Review of Economics and Statistics, 39(3), 312–320. https://doi.org/10.2307/1926047
Sturgeon, T. J. (2019). Upgrading strategies for the digital economy. Global Strategy Journal, 1364. https://doi.org/10.1002/gsj.1364
Sturgeon, T., Van Biesebroeck, J., & Gereffi, G. (2008). Value chains, networks and clusters: Reframing the global automotive industry. Journal of Economic Geography, 8(3), 297–321. https://doi.org/10.1093/jeg/lbn007
Swann, G. M. P. (2010). The economics of standardization: An update. Innovative Economics Limited.
Szeles, M. R., & Simionescu, M. (2020). Regional patterns and drivers of the EU digital economy. Social Indicators Research, 150(1), 95–119. https://doi.org/10.1007/s11205-020-02287-x
Tassey, G. (2000). Standardization in technology-based markets. Research Policy, 29(4), 587–602. https://doi.org/10.1016/S0048-7333(99)00091-8
Teece, D. J. (1986). Profiting from technological innovation: Implications for integration, collaboration, licensing and public policy. Research Policy, 15(6), 285–305. https://doi.org/10.1016/0048-7333(86)90027-2
Teece, D. J. (2017). Towards a capability theory of (innovating) firms: Implications for management and policy. Cambridge Journal of Economics, 41(3), 693–720. https://doi.org/10.1093/cje/bew063
United Nations Conference on Trade and Development. (2019). Digital economy report 2019. Value creation and capture: Implications for developing countries. UNCTAD. United Nations publication.
Wen, J., & Zeng, D. (2019). Alliance portfolio configuration and firm’s technology standardization capability. Studies in Science of Science, 37(07), 1277–1285. https://doi.org/10.16192/j.cnki.1003-2053.2019.07.014
Yang, J., Jin, X., Le, W., & Sheng, F. (2021). Exploring service quality model from the perspective of sensory perception. Total Quality Management and Business Excellence, 32(13–14), 1548–1568. https://doi.org/10.1080/14783363.2020.1747425
Yang, J., Shao, L., Jin, X., & Zhou, L. (2022). Impact of coupling of technological innovation and standardisation on industrial development: An empirical study of high-tech industry. International Journal of Emerging Markets. https://doi.org/10.1108/IJOEM-05-2021-0758
Yang, J., Vargas, L. G., Jin, X., & Zhou, L. (2020). Quality credit evaluation in the internet company: A system based on the analytic hierarchy process. Journal of Business Economics and Management, 21(2), 344–372. https://doi.org/10.3846/jbem.2020.11409
Yu, X. (2008). Standardization and economic growth – Theory, demonstration and case. China Standards Press.
Zoo, H., de Vries, H. J., & Lee, H. (2017). Interplay of innovation and standardization: Exploring the relevance in developing countries. Technological Forecasting and Social Change, 118, 334–348. https://doi.org/10.1016/j.techfore.2017.02.033
Zou, S., Zou, Z., & Zeng, D. (2020). Impact of competition-complementarity of collaborative R&D network on enterprise’s technology standardization capability. Studies in Science of Science, 38(1), 97–104.