Sustainability

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18 pages, 3528 KiB

Open AccessArticle

Secure One-Way Hash Function Using Cellular Automata for IoT

by Shyi-Tsong Wu and Jieh-Ren Chang

Sustainability 2023, 15(4), 3552; https://doi.org/10.3390/su15043552 - 15 Feb 2023

Viewed by 1407

In the era of the Internet of Things (IoT), security is a very important issue. Recently, some security studies have been proposed based on the applications of Cellular Automata (CA). These works have the simplicity and high speed computation of CA, and are [...] Read more.

In the era of the Internet of Things (IoT), security is a very important issue. Recently, some security studies have been proposed based on the applications of Cellular Automata (CA). These works have the simplicity and high speed computation of CA, and are suitable for the resource-constrained IoT. In this paper, we make use of CA and propose a sliding-window CA (SWCA)-based one-way hash function. The sliding-window captures input data randomly for operation and promotes the chaos of the hash function. The proposed one-way hash function possesses high sensitivity to the input data and the one-way feature. Its performance exhibits good collision resistance along with well cryptographic characteristics. For statistical analysis, the mean changed probability is close to 50%. It can resist differential attack under the NPCR and UACI values, which are at least 99% and 33%, respectively. Full article

(This article belongs to the Special Issue Risk Control, Rational Decision-Making, Sustainable Industrial Development, and Insurance Sustainability)

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29 pages, 5468 KiB

Open AccessArticle

Identification of SMEs in the Critical Factors of an IS Backup System Using a Three-Stage Advanced Hybrid MDM–AHP Model

by You-Shyang Chen, Jerome Chih-Lung Chou, Yu-Sheng Lin, Ying-Hsun Hung and Xuan-Han Chen

Sustainability 2023, 15(4), 3516; https://doi.org/10.3390/su15043516 - 14 Feb 2023

Viewed by 1575

Abstract

Backup system work represents “the last mile” of information security (IS). To avoid data loss or damage, enterprises should execute data backup periodically to ensure the integrity and availability of such data. Additionally, due to the continuous emergence of IS incidents featuring malicious [...] Read more.

Backup system work represents “the last mile” of information security (IS). To avoid data loss or damage, enterprises should execute data backup periodically to ensure the integrity and availability of such data. Additionally, due to the continuous emergence of IS incidents featuring malicious attacks in recent years, major firms in countries around the world have successively reported being under attack by ransomware viruses. In particular, small and medium enterprises (SMEs) became the potential targets of malicious attacks based on their different types of IS awareness and degrees of digitalization; therefore, IS work has become one of the essential topics with special significance for numerous SMEs. To this end, this paper studied the factors influencing SMEs’ adoption of IS backup systems in the hope that the critical decision-making behaviors of SMEs regarding the issue of IS could be learned. Practical suggestions can be made for the marketing schemes adopted by IS manufacturers concerning the planning of IS backup systems. Thus, this study used three methodological stages to address the exciting issue of IS backup systems for SMEs. In the first stage, 11 factors at two hierarchies involving three constructs influencing SMEs’ adoption of IS backup systems were summarized via a literature review. The constructs included financial consideration (FC), the IS incident, and business IS decision making (BISD-M). In the second stage, an expert questionnaire was applied; an advanced hybrid modified Delphi method (MDM) and analytic hierarchy process (AHP) with expert input were constructed to identify the sorting of overall weights based on the 11 factors included in the first stage. Following the empirical conclusions, the top three critical factors were “disaster loss amount”, “enterprise’s downtime”, and “supplier’s contractual requirements”. The conclusions of this study indicated that two factors were included in the FC construct; thus, the FC construct influenced IS the most, and the BISD-M construct took second place. In the final stage, through re-checking three actual cases, the results of this study were verified with specific respect to the FC. In conclusion, to popularize IS backup systems among SMEs and fully implement IS, manufacturers may start from the FC in the hope that the severe impact caused by IS incidents featuring malicious attacks can be slowed down and the losses encountered can be lowered. The empirical results and conclusions of this study can be used for reference by SMEs, and both theoretical and empirical foundations have been provided for further studies in academic circles; the results above also show a significant application contribution of this study. Full article

(This article belongs to the Special Issue Risk Control, Rational Decision-Making, Sustainable Industrial Development, and Insurance Sustainability)

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22 pages, 514 KiB

Open AccessArticle

Uncertainty and Financial Analysts’ Optimism: A Comparison between High-Tech and Low-Tech European Firms

by Taoufik Elkemali

Sustainability 2023, 15(3), 2270; https://doi.org/10.3390/su15032270 - 26 Jan 2023

Cited by 2 | Viewed by 1125

Abstract

This study investigates the impact of information uncertainty on analysts’ earnings forecasts for a sample of European companies from 2010 to 2019. We argue that representativeness, anchoring and adjustment, and leniency biases jointly influence analysts’ forecasts and lead to optimism. We suggest that [...] Read more.

This study investigates the impact of information uncertainty on analysts’ earnings forecasts for a sample of European companies from 2010 to 2019. We argue that representativeness, anchoring and adjustment, and leniency biases jointly influence analysts’ forecasts and lead to optimism. We suggest that uncertainty boosts analysts’ optimism as behavioral biases increase in situations of low predictability. We test analysts’ optimism through the association between forecast errors and, separately, two modifications (forecast revision and forecast change) when these modifications are upwards and downwards. To examine the uncertainty effect, we implement descriptive and regression analyses for two subsamples of high-tech and low-tech firms. The evidence indicates that analysts are optimistic, as they overreact to positive prediction modifications and underreact to negative prediction modifications. The optimism is more significant for high-tech firms and increases considerably with the forecast horizon. For robustness, we utilize analysts’ forecast dispersion as a second proxy for uncertainty, and we obtain comparable results. Full article

(This article belongs to the Special Issue Risk Control, Rational Decision-Making, Sustainable Industrial Development, and Insurance Sustainability)

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20 pages, 605 KiB

Open AccessArticle

The Effect of Operating Cash Flow on the Likelihood and Duration of Survival for Marginally Distressed Firms in Taiwan

by Jiang-Chuan Huang, Hueh-Chen Lin and Daniel Huang

Sustainability 2022, 14(24), 17024; https://doi.org/10.3390/su142417024 - 19 Dec 2022

Cited by 2 | Viewed by 1371

Abstract

The purpose of this study was to investigate the effect of operating cash flow (OCF) on the likelihood and the duration of distressed firms returning to a profitable position for survival. By selecting 309 marginally distressed firms that are Taiwan listed firms, we [...] Read more.

The purpose of this study was to investigate the effect of operating cash flow (OCF) on the likelihood and the duration of distressed firms returning to a profitable position for survival. By selecting 309 marginally distressed firms that are Taiwan listed firms, we identified 218 firms that survived from financial distress and 91 firms that did not survive from financial distress for the logistic regression model. We found that the greater adequacy, stability, and growth of changes in OCF and the higher liquidity, growth, and size of firms significantly increased the likelihood of firm survival, suggesting that a distressed firm is more likely to return to profitability for survival if it can improve OCF after suddenly encountering financial distress. Moreover, applying duration analysis, this study took a further step to investigate the time dependence of firm survival among 218 surviving firms. The results suggest that firms generating more OCF in the post-distress period and possessing higher profitability, liquidity, and growth in the pre-distress period significantly took less time on resolving financial distress for survival. However, an economic recession can significantly impede the time and speed of firm survival. Overall, the study found consistent and robust evidence that OCF is a reliable instrument to predict the likelihood and duration of survival for financially distressed firms. The study also provides practical implications for managers, investors, policymakers, and lenders who intend to promote firm financial performance and sustainability. Full article

(This article belongs to the Special Issue Risk Control, Rational Decision-Making, Sustainable Industrial Development, and Insurance Sustainability)

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13 pages, 861 KiB

Open AccessArticle

Constructing a Decision Model for Health Club Members to Purchase Coaching Programs during the COVID-19 Epidemic

by Jing-Wei Liu, Che-Wei Chang, Yao-Ji Wang and Yi-Hui Liu

Sustainability 2022, 14(20), 13497; https://doi.org/10.3390/su142013497 - 19 Oct 2022

Cited by 1 | Viewed by 1176

Abstract

The recent COVID-19 epidemic has affected the global sports industry to a certain extent, and health clubs are no exception. To avoid unsustainable operations, health clubs need to restructure their programs to suit members’ needs. Therefore, this study constructs a two-stage framework model [...] Read more.

The recent COVID-19 epidemic has affected the global sports industry to a certain extent, and health clubs are no exception. To avoid unsustainable operations, health clubs need to restructure their programs to suit members’ needs. Therefore, this study constructs a two-stage framework model to evaluate health club members’ purchase of coaching programs. The first stage is to construct a hierarchy of evaluation, using the modified Delphi method, to select suitable criteria and extended sub-criteria, and add and delete them through expert discussion. In the second stage, we use the pairwise comparison matrix to calculate the weight of each criterion and sub-criterion to influence each other. Next, we evaluate and compare physical, online and offline, and live-stream coaching programs, by using network hierarchy analysis to identify the best class purchase plan during the epidemic and provide relevant suggestions. The results of the study found that during the epidemic, the primary sales were for weight training among physical programs (0.314), and activity classes among online and offline programs (0.633) as well as live-stream coaching programs (0.280). These findings have implications for health clubs in deciding which mode they need to adopt for sustainable operations. Full article

(This article belongs to the Special Issue Risk Control, Rational Decision-Making, Sustainable Industrial Development, and Insurance Sustainability)

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23 pages, 550 KiB

Open AccessArticle

Identification of Applicable YouTubers for Hotels: A Case Study of Integrated Hybrid MCDM Model

by Lee-Chun Wu, Kuei-Lun Chang, Tung-Lin Chuang, You-Shyang Chen and Jung-Fa Tsai

Sustainability 2022, 14(18), 11494; https://doi.org/10.3390/su141811494 - 14 Sep 2022

Cited by 4 | Viewed by 1411

Abstract

The coronavirus disease 2019 (COVID-19) pandemic has caused a serious business recession in various walks of life, particularly in the full-service hotel industry. YouTube has one billion active users and is undoubtedly a social media platform that companies use to build relationships with [...] Read more.

The coronavirus disease 2019 (COVID-19) pandemic has caused a serious business recession in various walks of life, particularly in the full-service hotel industry. YouTube has one billion active users and is undoubtedly a social media platform that companies use to build relationships with customers and create value for brands. Marketers should be aware of YouTubers’ significant influence on complex decision-making processes. Given the above reasons, identifying a YouTuber attracts the concerns of various industries; thus, this important issue is focused on and offered the study’s rationality. This study proposes an integrated hybrid MCDM model to organize the four key techniques of FDM, DEMATEL, ANP, and TOPSIS to identify YouTubers for hotels. Consequently, 12 key criteria and four core dimensions were identified to improve the decision of optimal YouTubers for promoting sustainable development and increasing the efficiency of decision-making. From the limited literature review, the proposed hybrid model was not observed regarding YouTuber identification of hotels; thus, this study provides a superior application contribution to address this important and interesting topic for academicians and practitioners. Full article

(This article belongs to the Special Issue Risk Control, Rational Decision-Making, Sustainable Industrial Development, and Insurance Sustainability)

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19 pages, 326 KiB

Open AccessArticle

Bank Diversification and Financial Constraints on Firm Investment Decisions in a Bank-Based Financial System

by Hueh-Chen Lin, Jiang-Chuan Huang and Chun-Fan You

Sustainability 2022, 14(17), 10997; https://doi.org/10.3390/su141710997 - 2 Sep 2022

Cited by 1 | Viewed by 2057

Abstract

The purpose of the study is to investigate whether bank diversification influences borrowing firms’ financial constraints on investment decisions. It also analyzes whether the different dimensions of bank diversification could alleviate financial constraints to firm investment. Further, the role of bank diversification in [...] Read more.

The purpose of the study is to investigate whether bank diversification influences borrowing firms’ financial constraints on investment decisions. It also analyzes whether the different dimensions of bank diversification could alleviate financial constraints to firm investment. Further, the role of bank diversification in achieving firm financial sustainability is explored. By applying the Two-step System GMM, this study examines the effect of changes in bank diversification on financial constraints to borrowing firm investment in a reduced-form investment model with a sample of 810 listed firms in Taiwan over the period 1997–2019. The empirical findings indicate that firms are financially constrained as well as there being a positive relationship between cash flow and investment among Taiwanese listed firms. Additionally, bank diversification significantly reduces the investment-cash flow sensitivity of firms, suggesting that bank diversification mitigates the financial constraints to borrowing firms. Moreover, the multi-diversification of a bank compared to single-diversification will have greater impact on mitigating the firms’ financial constraints on investment. Thus, bank diversification strategies are proposed in a bank-based financial system, leading to the easing of the borrowing firms’ financial constraints to investments. Full article

(This article belongs to the Special Issue Risk Control, Rational Decision-Making, Sustainable Industrial Development, and Insurance Sustainability)

22 pages, 2009 KiB

Open AccessArticle

Identification of Potential Valid Clients for a Sustainable Insurance Policy Using an Advanced Mixed Classification Model

by You-Shyang Chen, Chien-Ku Lin, Yu-Sheng Lin, Su-Fen Chen and Huei-Hua Tsao

Sustainability 2022, 14(7), 3964; https://doi.org/10.3390/su14073964 - 28 Mar 2022

Cited by 4 | Viewed by 2041

Abstract

Due to the social awareness of risk control, we are witnessing the popularization of the insurance concept and the rapid development of financial insurance. The performance of the insurance industry is highly competitive; thus, in order to develop new and old business from [...] Read more.

Due to the social awareness of risk control, we are witnessing the popularization of the insurance concept and the rapid development of financial insurance. The performance of the insurance industry is highly competitive; thus, in order to develop new and old business from existing clients, information on the renewal of client premiums, purchase of new policies, and new client referrals has become an important research topic in this field. However, based on a review of published literature, few scholars have engaged in relevant research on the above topics by data mining, which motivated the formation of this study, hoping to bridge this gap. We constructed 10 mixed classification prediction models (called Models A–J) using advanced data mining techniques. Moreover, 19 conditional attributes (coded as X1–X19) were selected from the collected insurance client database, plus three different decision attributes (coded as X20–X22): whether to pay the renewal insurance premium, whether to buy a new insurance policy, and whether to introduce new clients. In terms of technical methods, we used two data pretreatment techniques, attribute selection and data discretization, combined with different methods of disassembly in proportion and data cross-validation to conduct data analysis of the collected experimental data set. We also combined and calculated 23 important classification algorithms (or classifiers) in seven different classifications of data mining techniques (i.e., decision tree, Bayes, Function, Lazy, Meta, Mise, and Rule). In terms of the experimental results of insurance data, this study has the following important contributions and findings: (1) finding the best classifier; (2) finding the optimal mixed classification model; (3) determining the best disassembly in proportion; (4) comparing the performance of different disassembly in proportion and data cross-validation methods; (5) determining the important factors influencing the decision attribute “whether to purchase a new insurance policy”, including the time interval to the first purchase, the number of valid policies, the total number of purchased policies, the family salary structure, and gender; and (6) building a knowledge base of decision rules and criteria with the decision tree C4.5 technology, which shall be provided to relevant stakeholders such as insurance dealers and insurance salespeople as a reference for looking for valid clients in the future, and is conducive to the rapid expansion of insurance business. Finally, the important research findings and management implications of this study can serve as a basis for further study of sustainable insurance by academic researchers. Full article

(This article belongs to the Special Issue Risk Control, Rational Decision-Making, Sustainable Industrial Development, and Insurance Sustainability)

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