sustainability-logo

Journal Browser

Journal Browser

Special Issue "Recent Development in Financial Sustainability"

A special issue of Sustainability (ISSN 2071-1050).

Deadline for manuscript submissions: 31 December 2023 | Viewed by 1843

Special Issue Editors

Prof. Dr. Sabri Boubaker
E-Mail Website
Guest Editor
Métis Lab, EM Normandie Business School, 75016 Paris, France
Interests: corporate governance; corporate social responsibility; corporate finance
Special Issues, Collections and Topics in MDPI journals
Dr. Imen Derouiche
E-Mail Website
Guest Editor
Faculty of Law, Economics and Finance, Campus Kirchberg, Université du Luxembourg, 6, rue Richard Coudenhove-Kalergi, L-1359 Luxembourg, Luxembourg
Interests: accounting; corporate governance; corporate social responsibility; ESG; sustainability
Special Issues, Collections and Topics in MDPI journals

Special Issue Information

Dear Colleagues,

Climate change and environmental degradation is affecting every person on Earth, regardless of country, industry, or location. This has electrified public outrage, putting pressure on governments and industrial organizations to reduce pollution and to bear the cost of environmental damages to their organizations proportion to CO2 they release in the air (Parker and Bhatti 2020). The United Nations’ sustainable environmental goals are the blueprint to achieving a better, sustainable, and safe global environment for all humans by 2030. Understanding of sustainability is gradually evolving as a major research area in various human endeavors, and sophisticated research methodologies are being used to understand the economic and financial value of the environment as intangible to academics, policymakers, regulators, and researchers (Bhatti and Do 2019). Nowadays, the financial health of a firm and/or industry is measured by ‘how senior management officials are managing environmental costs and the impacts of upstream and downstream operational process in the firm’. Data analytics are being done based on environmental sources of data in operational and strategic decision making. This extra step help managers to plan, execute, rationalize, and control resources and processes for better returns at lower risk.

Now, the budgeting component include research funds allocated to staff who can help the firms putting sustainability as a top priority for tax deduction including CO2 costing. The interest of sustainability in academic research is enhanced by micro- and macro-level applications in the economy, as well as interdisciplinary research agenda involving financial domains by increasing R&D budget allocation. The various aspects of sustainability raise many unanswered questions which need urgent exploration to meet UN deadlines.

In today’s environmental challenges, sustainable development must include human dimensions of change, specifically their attitudes, preferences, and tolerances, or, in simple words, behavioral change for sustainable development. Since the award of the Nobel prize to Richard Thaler in the field of Behavioral Economics in 2018, there has been increased emphasis on the role of individual behaviors in achieving sustainable development goals (SDGs). It requires a critical understanding of people’s decision making based on their preferences and how they are not only influenced but also relate to one another, transforming from human capital to social capital. Their trust also plays a significant role while developing social capital, which leads to sustainable development.

The objective of this Special Issue is to platform debate on sustainability, climate change, and geo-economic and financial constraints by considering this context. It will draw from the most relevant theories and empirical research of the field to provide many original contributions to the literature related to the determinants, factors, consequences, and implications of UN sustainable development goals and how far we have progressed towards achieving targets. The proposed Special Issue will address various issues of local and transnational frameworks, regulations, and taxonomies of factors related to sustainable development, environment, and climate change. These papers will make significant contributions to extend the literature on sustainability and green finance. This Special Issue welcomes contributions from research fields related to accounting, business, finance, and organizational behavior. Topics of interest may include:

  • Sustainability and environmental reporting in accounting and auditing;
  • Arbitration in sustainability and innovation and financial implications;
  • Sustainability, performance, and wealth creation;
  • Sustainability, environment, health (in particular, COVID-19), and transparency;
  • Compliance with national and transnational initiatives, regulations, and taxonomies for sustainability and climate change;
  • Environmentally friendly investments and efficiency;
  • Green finance and bonds, climate change bonds, and transition bonds;
  • Green accounting management and CO2;
  • Sustainability in ethics and corporate governance.

Prof. Dr. Muhammad Ishaq Bhatti
Prof. Dr. Sabri Boubaker
Dr. Imen Derouiche
Guest Editors

Manuscript Submission Information

Manuscripts should be submitted online at www.mdpi.com by registering and logging in to this website. Once you are registered, click here to go to the submission form. Manuscripts can be submitted until the deadline. All submissions that pass pre-check are peer-reviewed. Accepted papers will be published continuously in the journal (as soon as accepted) and will be listed together on the special issue website. Research articles, review articles as well as short communications are invited. For planned papers, a title and short abstract (about 100 words) can be sent to the Editorial Office for announcement on this website.

Submitted manuscripts should not have been published previously, nor be under consideration for publication elsewhere (except conference proceedings papers). All manuscripts are thoroughly refereed through a single-blind peer-review process. A guide for authors and other relevant information for submission of manuscripts is available on the Instructions for Authors page. Sustainability is an international peer-reviewed open access semimonthly journal published by MDPI.

Please visit the Instructions for Authors page before submitting a manuscript. The Article Processing Charge (APC) for publication in this open access journal is 2000 CHF (Swiss Francs). Submitted papers should be well formatted and use good English. Authors may use MDPI's English editing service prior to publication or during author revisions.

Published Papers (3 papers)

Order results
Result details
Select all
Export citation of selected articles as:

Research

Article
Ownership Structure and Carbon Emissions of SMEs: Evidence from OECD Countries
Sustainability 2022, 14(21), 14408; https://doi.org/10.3390/su142114408 - 03 Nov 2022
Viewed by 232
Abstract
This work investigates the impact that the ownership structure of small- and medium-sized enterprises (SMEs) in Organization for Economic Co-operation and Development (OECD) countries exerts on the level of corporate carbon emissions, as well as the moderating effect of innovation on this relationship. [...] Read more.
This work investigates the impact that the ownership structure of small- and medium-sized enterprises (SMEs) in Organization for Economic Co-operation and Development (OECD) countries exerts on the level of corporate carbon emissions, as well as the moderating effect of innovation on this relationship. Based on panel data from 32 OECD countries during 2015–2020, a pooled least-square panel model was developed for estimation. The results show that public, foreign, and institutional investors have a significant negative effect on carbon emissions. Conversely, strategic investors contribute to increasing carbon emissions. Moreover, findings provide evidence of mixed moderating effects of innovation on the relationship between types of owners and carbon emissions. Hence, strategic shareholders contribute to implementing environmental policies through innovation, while public and foreign investors incur Research and Development expenditures to boost firms’ economic activity, ignoring social and environmental commitments. Our results confirm the relationship between ownership structure and carbon emissions and the moderating effects of innovation on this association. Environmental innovation allows for improving worldwide firms’ competitiveness and long-term performance. Full article
(This article belongs to the Special Issue Recent Development in Financial Sustainability)
Article
Ṣukūk or Bond, Which Is More Sustainable during COVID-19? Global Evidence from the Wavelet Coherence Model
Sustainability 2022, 14(17), 10541; https://doi.org/10.3390/su141710541 - 24 Aug 2022
Viewed by 437
Abstract
Understanding the co-movement and lag–lead relations among indices is integral to financial decision making. These parameters show the reactiveness of the market towards new information. Understanding them helps to minimize risk and facilitates optimal portfolio diversification. By employing the wavelet coherence econometric model, [...] Read more.
Understanding the co-movement and lag–lead relations among indices is integral to financial decision making. These parameters show the reactiveness of the market towards new information. Understanding them helps to minimize risk and facilitates optimal portfolio diversification. By employing the wavelet coherence econometric model, the authors of this study analyzed the intricate relations among the Bond and Ṣukūk indices using global data belonging to the United States (US), the United Kingdom (UK), Middle East and North Africa (MENA), and Gulf Cooperation Council (GCC) countries. The findings indicated the presence of strong but similar implications of the initial shock of COVID-19 deaths on both Islamic and conventional markets’ volatilities, especially in long-term investment bands (64–128 days). The results oppose the general belief that Islamic finance is more sustainable and less volatile to crises than its traditional counterparts. Moreover, the authors of this study report diverse relationships among bond and Ṣukūk indices throughout the sample periods. We consistently found low correlations in short-term investment bands (4–16), leading to optimal diversification opportunities. However, high correlations were reported due to COVID-19 in the long-term investment bands (128–256), leading to low diversification opportunities for long-term investors. Full article
(This article belongs to the Special Issue Recent Development in Financial Sustainability)
Show Figures

Figure 1

Article
Another Prospective on Real Exchange Rate and the Traded Goods Prices: Revisiting Balassa–Samuelson Hypothesis
Sustainability 2022, 14(13), 7529; https://doi.org/10.3390/su14137529 - 21 Jun 2022
Cited by 1 | Viewed by 424
Abstract
This paper proposes a new variant and reinvestigates the validity of the Balassa–Samuelson (BS) hypothesis for nine East and South Asian countries under new specifications. The BS hypothesis is often criticized for one of its fundamental, but oversimplified assumptions related to Purchasing Power [...] Read more.
This paper proposes a new variant and reinvestigates the validity of the Balassa–Samuelson (BS) hypothesis for nine East and South Asian countries under new specifications. The BS hypothesis is often criticized for one of its fundamental, but oversimplified assumptions related to Purchasing Power Parity (PPP) holding which can be confirmed for cronss-country tradables’ prices, implying nontraded-sector prices are solely responsible for inducing trend deviations in real exchange rate. The assumption, when empirically tested, does not always hold valid, revealing a price difference in tradables for Asian countries against the world (U.S.), a potential driver of their trend in real exchange rate deviations (appreciation). A new approach based on Fully Modified OLS (FMOLS) and Dynamic OLS (DOLS) is used to estimate the long-run BS coefficients, while the error correction mechanism is employed to estimate the short-run estimates. These results motivated us to allow for the inexistence of PPP for cross-country tradables; the standard form of the BS model is then tested in its relaxed form using time-series and panel data econometric tests. Despite a relaxing of the BS model in favor of tradables’ price deviation from PPP, the results are not sufficiently supportive of the BS hypothesis. These findings hold strong economic implications for Asia, suggesting that intercountry sectoral productivity bias of regional economies with the world does not necessarily exert substantial effects on their long-run real exchange rates. Additionally, contrary to the core belief of the BS model, intercountry tradables’ price differentials are found to substantially explain real exchange rate movements away from their long-run equilibrium. Full article
(This article belongs to the Special Issue Recent Development in Financial Sustainability)
Back to TopTop