Sort by
COVID-19 and the Merit-Order Effect through Wind Energy: The case of Nord Pool Electricity Markets
Seifeddine Guerdalli,
Emna Trabelsi
Posted: 17 February 2025
Mountain Entrepreneurship, a Vector of Sustainable Development in Europe
Brindusa Covaci,
Mihai Covaci
The article demonstrates the importance of developing mountain entrepreneurship, which faces interconnected challenges, such as the still weak representation of mountain businesses at European level, limited access to infrastructure, high production costs and dependence on climate factors. Mountain entrepreneurship plays a defining role in renewable development in Europe due to the high potential of natural resources, the ability to attract European funds for sustainable projects, and the contribution to the conservation of biodiversity and cultural heritage. The aforementioned sectors are part of industry, services and creative industries, which entitles the authors to carry out a detailed analysis of the related mountain entrepreneurship. Some case studies demonstrate the success of mountain entrepreneurship in Europe. Mountain entrepreneurship is the engine of European development more than the non-mountain one, which is why development must be sustained and resilient. In Europe, several countries with a mountain tradition or with a high degree of resilience show the importance of existing models and lessons of good practice. Future trends suggest an increase in interest in sustainable businesses and digitalization as a means of promoting mountain products and services. The aim of the article is to observe the state of play of some indicators related to European mountain entrepreneurship and propose solutions to ensure the sustainable development of the community economy.
The article demonstrates the importance of developing mountain entrepreneurship, which faces interconnected challenges, such as the still weak representation of mountain businesses at European level, limited access to infrastructure, high production costs and dependence on climate factors. Mountain entrepreneurship plays a defining role in renewable development in Europe due to the high potential of natural resources, the ability to attract European funds for sustainable projects, and the contribution to the conservation of biodiversity and cultural heritage. The aforementioned sectors are part of industry, services and creative industries, which entitles the authors to carry out a detailed analysis of the related mountain entrepreneurship. Some case studies demonstrate the success of mountain entrepreneurship in Europe. Mountain entrepreneurship is the engine of European development more than the non-mountain one, which is why development must be sustained and resilient. In Europe, several countries with a mountain tradition or with a high degree of resilience show the importance of existing models and lessons of good practice. Future trends suggest an increase in interest in sustainable businesses and digitalization as a means of promoting mountain products and services. The aim of the article is to observe the state of play of some indicators related to European mountain entrepreneurship and propose solutions to ensure the sustainable development of the community economy.
Posted: 17 February 2025
Assessing Airline Companies’ Financial Performance through Liquidity and Debt Ratios: An Accounting Approach
Faizah Alsulami
Posted: 17 February 2025
The Moderating Role of Sustainable Innovation on the Relationship Between Internal Audit Effectiveness and Sustainable Auditing Practices in Libya’s Public Sector
Najeb Masoud
Posted: 17 February 2025
Sustainability-Oriented Innovation in the Cocoa Industry: A Case Study in Brazil
Fernanda Santana da Silva Ferreira,
Érica Trica Fedato,
Mayara de Oliveira Neco,
Fernanda Salvador Alves
Posted: 17 February 2025
The Inflationary Episode of 1603 in Light of the Austrian Economic Theory
Cristóbal Matarán
This paper examines the inflationary episode of 1603 in Spain through the lens of Austrian Eco-nomic Theory. The study focuses on the effects of monetary expansion caused by the influx of precious metals from the Americas and its impact on real wages and raw material prices. Through the analysis of historical data and the application of statistical methods, this study identifies key relationships between monetary inflows, price levels, and income distribution. The findings indicate that the rapid expansion of the money supply triggered inflation, dispro-portionately impacting various sectors of society. Using the Cantillon Effect as a framework, the study explains how monetary expansion led to uneven wealth redistribution and production distortions. Additionally, the Austrian Business Cycle Theory highlights the consequences of ar-tificial monetary growth, including the misallocation of resources and reduced purchasing power for wage earners. This study employs historical data from Edward Hamilton’s work and other sources, utilizing normalization techniques and regression models to empirically examine the economic dynamics of this period. By bridging theoretical insights with empirical analysis, this paper contributes to a deeper understanding of early modern inflationary processes and offers lessons applicable to contemporary economic challenges.
This paper examines the inflationary episode of 1603 in Spain through the lens of Austrian Eco-nomic Theory. The study focuses on the effects of monetary expansion caused by the influx of precious metals from the Americas and its impact on real wages and raw material prices. Through the analysis of historical data and the application of statistical methods, this study identifies key relationships between monetary inflows, price levels, and income distribution. The findings indicate that the rapid expansion of the money supply triggered inflation, dispro-portionately impacting various sectors of society. Using the Cantillon Effect as a framework, the study explains how monetary expansion led to uneven wealth redistribution and production distortions. Additionally, the Austrian Business Cycle Theory highlights the consequences of ar-tificial monetary growth, including the misallocation of resources and reduced purchasing power for wage earners. This study employs historical data from Edward Hamilton’s work and other sources, utilizing normalization techniques and regression models to empirically examine the economic dynamics of this period. By bridging theoretical insights with empirical analysis, this paper contributes to a deeper understanding of early modern inflationary processes and offers lessons applicable to contemporary economic challenges.
Posted: 17 February 2025
The Role of Digital Platforms in Enhancing the Market Reach of Small Businesses in Rural America
Ayuns Luz
Posted: 17 February 2025
The Impact of Blockchain Technology and Dynamic Capabilities on Banks’ Performance
Abayomi Ogunrinde,
Carmen De-Pablos-Heredero,
Jose-Luis Montes-Botella,
Luis Fernandez-Sanz
Blockchain technology has sparked significant interest and is currently being researched by academics and practitioners due to its potential to reduce transaction costs, improve the security of transactions, transparency, etc. However, there is still much doubt about its impacts, and the technology is still in its infancy, with varying degrees of adoption among different financial institutions. Structural Equation Modelling (SEM) analysis was utilized to test the impact of blockchain and dynamic capabilities on the Bankʹs Performance of top banks in Spain. The innovative approach seeks to understand how performance can be improved by deploying blockchain technology (BTE) in banks. Results showed a significant association between banks’ adoption of blockchain and the generation of dynamic capabilities and financial performance. Thus, we can confirm that a bank adopting blockchain will more likely create dynamic capabilities than those that do not. Hence, blockchain technology is an important tool for achieving dynamic capabilities and increasing performance in banks. Based on the findings, we suggest areas for additional research and highlight policy considerations related to the wider adoption of blockchain technology.
Blockchain technology has sparked significant interest and is currently being researched by academics and practitioners due to its potential to reduce transaction costs, improve the security of transactions, transparency, etc. However, there is still much doubt about its impacts, and the technology is still in its infancy, with varying degrees of adoption among different financial institutions. Structural Equation Modelling (SEM) analysis was utilized to test the impact of blockchain and dynamic capabilities on the Bankʹs Performance of top banks in Spain. The innovative approach seeks to understand how performance can be improved by deploying blockchain technology (BTE) in banks. Results showed a significant association between banks’ adoption of blockchain and the generation of dynamic capabilities and financial performance. Thus, we can confirm that a bank adopting blockchain will more likely create dynamic capabilities than those that do not. Hence, blockchain technology is an important tool for achieving dynamic capabilities and increasing performance in banks. Based on the findings, we suggest areas for additional research and highlight policy considerations related to the wider adoption of blockchain technology.
Posted: 16 February 2025
Leveraging Technology for Agile and Coordinated Responses to Supply Chain Disruptions
Samuel Holloway
The global supply chain management environment has undergone considerable change, requiring a transition to more robust and flexible operating frameworks. This study examines the crucial influence of technology-facilitated agility and coordination on improving supply chain resilience, especially in light of current global difficulties. The research employs a thorough qualitative investigation of 30 supply chain specialists, revealing significant themes including technology integration, supplier engagement, effective risk management, and the impact of leadership on organizational culture. Research indicates that firms using new technologies like artificial intelligence, blockchain, and automation achieve enhanced operational efficiency and response to disturbances. Furthermore, cultivating robust supplier connections is essential for facilitating collaborative problem-solving and resource sharing, thereby improving overall supply chain agility. The report emphasizes the importance of proactive risk management practices that enable firms to recognize and successfully reduce possible hazards. Leadership is recognized as a pivotal element in fostering innovation and developing a flexible organizational culture, vital for managing the intricacies of contemporary supply chains. This study offers essential information for firms aiming to improve their resilience and responsiveness in a turbulent global context. By adopting these technology-driven concepts, firms may establish resilient supply chains that can prosper amid uncertainties and interruptions.
The global supply chain management environment has undergone considerable change, requiring a transition to more robust and flexible operating frameworks. This study examines the crucial influence of technology-facilitated agility and coordination on improving supply chain resilience, especially in light of current global difficulties. The research employs a thorough qualitative investigation of 30 supply chain specialists, revealing significant themes including technology integration, supplier engagement, effective risk management, and the impact of leadership on organizational culture. Research indicates that firms using new technologies like artificial intelligence, blockchain, and automation achieve enhanced operational efficiency and response to disturbances. Furthermore, cultivating robust supplier connections is essential for facilitating collaborative problem-solving and resource sharing, thereby improving overall supply chain agility. The report emphasizes the importance of proactive risk management practices that enable firms to recognize and successfully reduce possible hazards. Leadership is recognized as a pivotal element in fostering innovation and developing a flexible organizational culture, vital for managing the intricacies of contemporary supply chains. This study offers essential information for firms aiming to improve their resilience and responsiveness in a turbulent global context. By adopting these technology-driven concepts, firms may establish resilient supply chains that can prosper amid uncertainties and interruptions.
Posted: 16 February 2025
ESG Integration and Green Computing: A 20-Year Bibliometric Analysis
Erasmia Angelaki,
Alexandros Garefalakis,
Markos Kourgiantakis,
Ioannis Sitzimis,
Ioannis Passas
As businesses increasingly prioritize sustainability, integrating Environmental, Social, and Governance (ESG) principles with green computing has emerged as a critical strategy. However, research remains fragmented regarding how these two domains interact within the Triple Bottom Line (TBL) framework. This study conducts a bibliometric analysis of 750 articles published between 2004 and 2024, using multiple correspondence and co-citation analyses to identify key trends. The findings highlight a strong correlation between green computing practices and improved economic outcomes. Results indicate that China and the United States lead research output in this field, with a significant rise in publications post-2018, driven by regulatory pressures and corporate sustainable initiatives. Our findings emphasize that companies integrating green computing with ESG strategies can achieve long term financial sustainability while meeting Environmental and social responsibilities. The study provides insights from business leaders, policymakers, and researchers by identifying critical gaps and future research direction, including industry – specific applications and policy frameworks to accelerate ESG adoption in technology – driven enterprises. Future research should address practical challenges in implementing these practices across different industries and explore the long-term impacts of ESG integration on business performance.
As businesses increasingly prioritize sustainability, integrating Environmental, Social, and Governance (ESG) principles with green computing has emerged as a critical strategy. However, research remains fragmented regarding how these two domains interact within the Triple Bottom Line (TBL) framework. This study conducts a bibliometric analysis of 750 articles published between 2004 and 2024, using multiple correspondence and co-citation analyses to identify key trends. The findings highlight a strong correlation between green computing practices and improved economic outcomes. Results indicate that China and the United States lead research output in this field, with a significant rise in publications post-2018, driven by regulatory pressures and corporate sustainable initiatives. Our findings emphasize that companies integrating green computing with ESG strategies can achieve long term financial sustainability while meeting Environmental and social responsibilities. The study provides insights from business leaders, policymakers, and researchers by identifying critical gaps and future research direction, including industry – specific applications and policy frameworks to accelerate ESG adoption in technology – driven enterprises. Future research should address practical challenges in implementing these practices across different industries and explore the long-term impacts of ESG integration on business performance.
Posted: 14 February 2025
Australia-Pakistan Pulses Export Value Chain Competitiveness: A System Thinking Approach
Mukunda Bhusal,
Saroj Amgai,
Rajendra Adhikari
Posted: 14 February 2025
The Hidden Forces Behind Delisting: Non-Financial and Macroeconomic Determinants
Peter Anthony Lansdell,
Ilse Botha,
Ben Marx
Posted: 14 February 2025
Enhancing Supply Chain Visibility and Resilience Through Information Systems Integration
Samuel Holloway
This study examines the incorporation of information technology to improve visibility and resilience in supply networks. Amid increasing global complexity and volatility, enterprises must embrace innovative digital technology to maintain competitiveness and adaptability. This research utilizes qualitative methodologies, namely in-depth interviews with industry experts and practitioners, to investigate the impact of integrated information systems on supply chain performance. The results indicate that effective integration enhances operational efficiency and promotes real-time data exchange, allowing companies to make prompt, informed choices. The research identifies key themes, including the need of cooperation among supply chain partners, the disruptive effects of technologies like artificial intelligence and blockchain, and the need to cultivate a culture of innovation and trust. Moreover, the study underscores the difficulties encountered in the deployment of these technologies, including financial implications and the need for qualified staff. The research highlights that leadership dedication and a conducive organizational culture are crucial for surmounting these hurdles and successfully harnessing digital change. This study enhances the comprehension of how integrated information systems may enhance supply chain resilience and visibility, providing significant insights for both practitioners and scholars. By underscoring the strategic significance of these systems, businesses may improve their capacity to address disruptions, maintain operational excellence, and attain sustainable development in a fluctuating business landscape.
This study examines the incorporation of information technology to improve visibility and resilience in supply networks. Amid increasing global complexity and volatility, enterprises must embrace innovative digital technology to maintain competitiveness and adaptability. This research utilizes qualitative methodologies, namely in-depth interviews with industry experts and practitioners, to investigate the impact of integrated information systems on supply chain performance. The results indicate that effective integration enhances operational efficiency and promotes real-time data exchange, allowing companies to make prompt, informed choices. The research identifies key themes, including the need of cooperation among supply chain partners, the disruptive effects of technologies like artificial intelligence and blockchain, and the need to cultivate a culture of innovation and trust. Moreover, the study underscores the difficulties encountered in the deployment of these technologies, including financial implications and the need for qualified staff. The research highlights that leadership dedication and a conducive organizational culture are crucial for surmounting these hurdles and successfully harnessing digital change. This study enhances the comprehension of how integrated information systems may enhance supply chain resilience and visibility, providing significant insights for both practitioners and scholars. By underscoring the strategic significance of these systems, businesses may improve their capacity to address disruptions, maintain operational excellence, and attain sustainable development in a fluctuating business landscape.
Posted: 14 February 2025
Corporate Social Responsibility (CSR), Sustainability and ESG Standards Used by ATHEX ESG Index Listed Companies
Triantafyllos Papafloratos,
Garyfallos Fragidis
Posted: 14 February 2025
Can we Have Both? – The Challenges of Efficiency Outcomes in Public Procurement System and Reaching Strategic Goals of Procurement
Sašo Matas,
Žan Jan Oplotnik,
Timotej Jagrič
Posted: 13 February 2025
Governance and Institutional Frameworks in Ethiopian Integrated Agro-Industrial Parks: Enhancing Innovation Ecosystems and Multi Stakeholder Coordination for Global Market Competitiveness
Efa Muleta Boru,
Jun Seok Hwang,
Abdi Yuya Ahmad
Posted: 13 February 2025
Unmasking Delistings: A Multifactorial Analysis of Financial, Non-Financial and Macroeconomic Variables
Peter Anthony Lansdell,
Ilse Botha,
Ben Marx
Posted: 13 February 2025
Development of Economic and Mathematical Tools for Analyzing and Evaluating the Value of Life Based on Willingness to Pay for Mortality Risk Reduction (Using Air Pollution as an Example)
Polina Poplavko,
Artur Nagapetyan
Posted: 13 February 2025
Copula-Based Risk Aggregation and the Significance of Reinsurance
Alexandra Dias,
Isaudin Ismail,
Aihua Zhang
Insurance companies need to calculate solvency capital requirements in order to ensure that they can meet their future obligations to policyholders and beneficiaries. The solvency capital requirement is a risk management tool essential for, when extreme catastrophic events occur, resulting in a high number of possibly interdependent claims. This paper studies the problem of aggregating the risks coming from several insurance business lines and analyses the effect of reinsurance in the level of risk. Our starting point is to use a Hierarchical Risk Aggregation method, which was initially based on 2-dimensional elliptical copulas. We then propose the use of copulas from the Archimedean family and a mixture of different copulas. Our results show that a mixture of copulas can provide a better fit to the data than an individual copula and consequently avoid over or underestimating of the capital requirement of an insurance company. We also investigate the significance of reinsurance in reducing the insurance company’s business risk and its effect on diversification. The results show that reinsurance does not always reduce the level of risk, but can also reduce the effect of diversification for insurance companies with multiple business lines.
Insurance companies need to calculate solvency capital requirements in order to ensure that they can meet their future obligations to policyholders and beneficiaries. The solvency capital requirement is a risk management tool essential for, when extreme catastrophic events occur, resulting in a high number of possibly interdependent claims. This paper studies the problem of aggregating the risks coming from several insurance business lines and analyses the effect of reinsurance in the level of risk. Our starting point is to use a Hierarchical Risk Aggregation method, which was initially based on 2-dimensional elliptical copulas. We then propose the use of copulas from the Archimedean family and a mixture of different copulas. Our results show that a mixture of copulas can provide a better fit to the data than an individual copula and consequently avoid over or underestimating of the capital requirement of an insurance company. We also investigate the significance of reinsurance in reducing the insurance company’s business risk and its effect on diversification. The results show that reinsurance does not always reduce the level of risk, but can also reduce the effect of diversification for insurance companies with multiple business lines.
Posted: 13 February 2025
Climate Change and Economic Conditions of Fifty (50) US States: The “Effect Modifier” of Interest Rate in a Semi-Parametric Smooth Varying-Coefficient
Kazeem Isah,
Afees A. Salisu,
Xuan Vinh Vo
We utilize monthly state-level data from 50 U.S. states to provide the first evidence regarding the role of interest rates as effect modifiers in the commonly held assumption that climate change adversely affects economic conditions. Employing a semi-parametric smooth varying coefficient model (SVCM), we analyze the economic impact of climate change while allowing the coefficient related to economic conditions to vary smoothly with the interest rate (the effect modifier) from April 1987 to December 2022. Our findings indicate that the widely accepted belief in a negative impact from climate change is particularly evident in the coldest states in the U.S. Additionally, we observe that this negative effect manifests as a slower rate of improvement in economic conditions in some of the ten hottest states. We confirm that the effect modifier plays a significant role in about 80% of the states studied. While most states experienced a negative effect of climate change prior to the Global Financial Crisis (GFC), the results largely reverse in its aftermath. From a policy perspective, our validation of heterogeneity in the relationship between climate change and state-level economic conditions suggests that for a geographically diverse economy like the U.S., targeted initiatives tailored to mitigate the economic effects of climate change in specific states are the most effective approach.
We utilize monthly state-level data from 50 U.S. states to provide the first evidence regarding the role of interest rates as effect modifiers in the commonly held assumption that climate change adversely affects economic conditions. Employing a semi-parametric smooth varying coefficient model (SVCM), we analyze the economic impact of climate change while allowing the coefficient related to economic conditions to vary smoothly with the interest rate (the effect modifier) from April 1987 to December 2022. Our findings indicate that the widely accepted belief in a negative impact from climate change is particularly evident in the coldest states in the U.S. Additionally, we observe that this negative effect manifests as a slower rate of improvement in economic conditions in some of the ten hottest states. We confirm that the effect modifier plays a significant role in about 80% of the states studied. While most states experienced a negative effect of climate change prior to the Global Financial Crisis (GFC), the results largely reverse in its aftermath. From a policy perspective, our validation of heterogeneity in the relationship between climate change and state-level economic conditions suggests that for a geographically diverse economy like the U.S., targeted initiatives tailored to mitigate the economic effects of climate change in specific states are the most effective approach.
Posted: 13 February 2025
of 161