The study found that larger commercial banks with multiple branches tended to adopt more new products and processes. However, niche banks specializing in specific services tended to focus on innovation speed rather innovation magnitude (the number of innovations) adopted.
“We hope our research can provide some guidance for banks and the technology banks invest in,” says Gopalakrishnan. This study was conducted among 101 banks in the Northeastern United States.
The paper won from the Institute of Electrical and Electronics Engineers, Inc. (IEEE) the IEEE Engineering Management Society's 2000 Transactions Publication Award. It was entitled “The Impact of Organizational Context on Innovation Adoption in Commercial Banks." Fariborz Damanpour, a management professor at Rutgers University, co-authored the work.
“The IEEE award was meaningful since it was a recognition from my peers who do similar kinds of research,” says Gopalakrishnan, a Paramus resident. “In academics, this kind of recognition brings credibility to the research that we do.”
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