Search Results (7,099)

This paper explores the intervening role in SEP performance of corporate environmental, cultural, and ethnic activities (ECEAs) and diversity, equity, inclusion, and social initiatives (DEISIs) on blockchain adoption (BCA) strategy, particularly useful in the Western Balkans (WB), which demands transparency due to extended fraud and ethnic complexities. In this domain, a question has been raised: In BCA strategies, is there any correlation between SEP performance and ECEAs and DEISIs in a mediating role? A serial mediation model was tested on a dataset of 630 WB and EU companies, and the research conceptual model was validated by CFA (Confirmation Factor Analysis), and the SEM (Structural Equation Model) fit was assessed. We found a statistically sound (significant, positive) correlation between BCA and ESG success performance, especially in the innovation and integrity ESG performance success indicators, when DEISIs mediate. The findings confirmed the influence of technology, and environmental, cultural, ethnic, and social factors on BCA strategy. The findings revealed some important issues of BCA that are of worth to WB companies’ managers to address BCA for better performance. This study adds to the literature on corporate blockchain transformation, especially for organizations seeking investment opportunities in new international markets to diversify their assets and skill pool. Furthermore, it contributes to a deeper understanding of how DEI initiatives impact the correlation between business transformation and socioeconomic performance, which is referred to as the “social impact”. Full article

The implementation of the trans-European tourist cycle route network “EuroVelo” is fostering new strategic importance for non-motorized mobility and the associated practice of cycling tourism. Indeed, slow tourism offers a pathway for the development of inland areas. The infrastructure supporting it, such as long-distance cycling and walking paths, can act as a vital connection, stimulating regeneration in peripheral territories by enhancing environmental and landscape assets, as well as preserving heritage, local identity, and culture. The regeneration of peri-urban landscapes through soft mobility is recognized as the cornerstone for accessibility to material and immaterial resources (including ecosystem services) for multiple categories of users, including the most vulnerable, especially following the restoration of green-area systems and non-urbanized areas with degraded ecosystems. Considering the forthcoming implementation of the Magna Grecia cycling route, the southernmost segment of the “EuroVelo” network traversing three regions in southern Italy, this contribution briefly examines the necessity of defining new development policies to effectively integrate sustainable slow tourism with the enhancement of environmental and landscape values in the coastal areas along the route. Specifically, this case study focuses on a coastal stretch characterized by significant morphological and environmental features and notable landscapes interwoven with densely built environments. In this area, environmental and landscape values face considerable threats from scattered, irregular, low-density settlements, abandoned sites, and other inappropriate constructions along the coastline. Full article

Effective water infrastructure planning and management is key to sustainable water supply globally. This research assesses water infrastructure planning and management in Gauteng, South Africa, amid growing challenges from rapid urbanisation, high water demand, climate change, and resource scarcity. These challenges threaten the achievement of Sustainable Development Goals 6 and 11; hence, an integrated approach is required for water sustainability. The study responds to a gap in the literature, which often treats planning and management separately, by adopting an integrated, multi-institutional approach across the water value chain. A mixed-methods triangulation strategy was employed for data collection whereby surveys provided quantitative data, while two sets of structured interviews were conducted: the first round to determine causal relationships among the critical success factors and the second round to validate the proposed framework. The findings reveal a misalignment between infrastructure planning and implementation, contributing to infrastructure backlogs and a short- to medium-term focus. Infrastructure management is further constrained by inadequate system redundancy, leading to ineffective maintenance. External factors such as delayed adoption of 4IR technologies, lack of climate resilient strategies, and fragmented institutional coordination exacerbate these issues. Using Decision-Making Trial and Evaluation Laboratory (DEMATEL) analysis, the study identified Strategic Alignment and a Value-Driven Approach as the most influential critical success factors in water asset management. The research concludes by proposing an integrated water infrastructure and planning framework that supports sustainable water supply. Full article

Financial market forecasting remains challenging due to complex nonlinear dynamics and regime-dependent behaviors that traditional models struggle to capture effectively. This research introduces the Adaptive Financial Reservoir Network with Hypernetwork Flow (AFRN–HyperFlow) framework, a novel ensemble architecture integrating Echo State Networks, temporal convolutional networks, mixture density networks, adaptive Hypernetworks, and deep state-space models for enhanced financial time-series prediction. Through comprehensive feature engineering incorporating technical indicators, spectral decomposition, reservoir-based representations, and flow dynamics characteristics, the framework achieves superior forecasting performance across diverse market conditions. Experimental validation on 26,817 balanced samples demonstrates exceptional results with an F1-score of 0.8947, representing a 12.3% improvement over State-of-the-Art baseline methods, while maintaining robust performance across asset classes from equities to cryptocurrencies. The adaptive Hypernetwork mechanism enables real-time regime-change detection with 2.3 days average lag and 95% accuracy, while systematic SHAP analysis provides comprehensive interpretability essential for regulatory compliance. Ablation studies reveal Echo State Networks contribute 9.47% performance improvement, validating the architectural design. The AFRN–HyperFlow framework addresses critical limitations in uncertainty quantification, regime adaptability, and interpretability, offering promising directions for next-generation financial forecasting systems incorporating quantum computing and federated learning approaches. Full article

The objective of this investigation is to obtain numerical solutions for a variety of mathematical models in a wide range of disciplines, such as chemical kinetics, neurosciences, nonlinear optics, metallurgical separation/alloying processes, and asset dynamics in mathematical finance. This research features numerical simulations conducted with a remarkably low error measure, providing a visual representation of the examined models in these areas. The proposed method is the double Laplace–Adomian decomposition method, which facilitates the numerical acquisition and analysis of solutions. This paper presents the first report of numerical simulations employing this innovative methodology to address these problems. The findings are expected to benefit the natural sciences, mathematical modeling, and their practical applications, representing the innovative aspect of this article. Additionally, this method can analyze many classes of partial differential equations, whether linear or nonlinear, without the need for linearization or discretization. Full article

This study provides a comprehensive synthesis of climate risk and financial stability literature through a systematic review and bibliometric analysis of 174 Scopus-indexed publications from 1988 to 2024. Publications increased by 500% from 1988 to 2019, indicating growing research interest following the 2015 Paris Agreement. It explores how physical and transition climate risks affect financial markets, asset pricing, financial regulation, and long-term sustainability. Common themes include macroprudential policy, climate disclosures, and environmental risk integration in financial management. Influential authors and key journals are identified, with keyword analysis showing strong links between “climate change”, “financial stability”, and “climate risk”. Various methodologies are used, including econometric modeling, panel data analysis, and policy review. The main finding indicates a shift toward integrated, risk-based financial frameworks and rising concern over systemic climate threats. Policy implications include the need for harmonized disclosures, ESG integration, and strengthened adaptation finance mechanisms. Full article

In crisis-stricken economies, leadership effectiveness increasingly hinges not on technical expertise alone but on emotional competence. While emotional intelligence (EI) has been widely acknowledged as a catalyst for effective leadership and employee outcomes, its role in volatile and resource-scarce contexts remains underexplored. This study addresses this critical gap by investigating the impact of five core EI dimensions, namely self-awareness, self-regulation, motivation, empathy, and social skills, on employee performance amid Lebanon’s ongoing multidimensional crisis. Drawing on Goleman’s EI framework and the Job Demands–Resources theory, the research employs a quantitative, cross-sectional design with data collected from 398 employees across sectors in Lebanon. Structural Equation Modeling revealed that all EI dimensions significantly and positively influenced employee performance, with self-regulation (β = 0.485) and empathy (β = 0.361) emerging as the most potent predictors. These findings underscore the value of emotionally intelligent leadership in fostering productivity, resilience, and team cohesion during organizational instability. This study contributes to the literature by contextualizing EI in an under-researched, crisis-affected setting, offering nuanced insights into which emotional competencies are most impactful during prolonged uncertainty. Practically, it positions EI as a strategic leadership asset for crisis management and sustainable human resource development in fragile economies. The results inform leadership training, policy design, and organizational strategies that aim to enhance employee performance through emotionally intelligent practices. Full article

This follow-up scientific case study builds on prior research to explore the computational challenges of applying quantum algorithms to financial asset management, focusing specifically on solving the graph-cut problem for investment recommendation. Unlike our prior study, which focused on idealized QAOA performance, this work introduces a graph compression pipeline that enables QAOA deployment under real quantum hardware constraints. This study investigates quantum-accelerated spectral graph compression for financial asset recommendations, addressing scalability and regulatory constraints in portfolio management. We propose a hybrid framework combining the Quantum Approximate Optimization Algorithm (QAOA) with spectral graph theory to solve the Max-Cut problem for investor clustering. Our methodology leverages quantum simulators (cuQuantum and Cirq-GPU) to evaluate performance against classical brute-force enumeration, with graph compression techniques enabling deployment on resource-constrained quantum hardware. The results underscore that efficient graph compression is crucial for successful implementation. The framework bridges theoretical quantum advantage with practical financial use cases, though hardware limitations (qubit counts, coherence times) necessitate hybrid quantum-classical implementations. These findings advance the deployment of quantum algorithms in mission-critical financial systems, particularly for high-dimensional investor profiling under regulatory constraints. Full article

This paper develops a unified framework for mathematical finance under general semimartingale models that allow for dividend payments, negative asset prices, and unbounded jumps. We present a rigorous approach to the mathematical modeling of financial markets with dividend-paying assets by defining appropriate concepts of numéraires, discounted processes, and self-financing trading strategies. While most of the mathematical results are not new, this unified framework has been missing in the literature. We carefully examine the transition between nominal and discounted price processes and define appropriate notions of admissible strategies that work naturally in both settings. By establishing the equivalence between these models and providing clear conditions for their applicability, we create a mathematical foundation that encompasses a wide range of realistic market scenarios and can serve as a basis for future work on mathematical finance and derivative pricing. We demonstrate the practical relevance of our framework through a comprehensive application to dividend-paying equity markets where the framework naturally handles discrete dividend payments. This application shows that our theoretical framework is not merely abstract but provides the rigorous foundation for pricing derivatives in real-world markets where classical assumptions need extension. Full article

This study evaluates the risk-adjusted performance of Hospitality REITs using multi-factor asset pricing models and downside risk measures with the aim of assessing their diversification potential and crisis sensitivity. Unlike prior studies that examine REITs in aggregate, this study isolates Hospitality REITs to explore their unique cyclical and macroeconomic sensitivities. This study looks at the risk-adjusted performance of Hospitality Real Estate Investment Trusts (REITs) in relation to more general REIT indexes and the S&P 500 Index. The study reveals that monthly returns of Hospitality REITs increasingly move in tandem with the stock markets during financial crises, which reduces their historical function as portfolio diversifiers. Investing in Hospitality REITs exposes one to the hospitality sector; however, these investments carry notable risks and provide little protection, particularly during economic upheavals. Furthermore, the study reveals that Hospitality REITs underperform on a risk-adjusted basis relative to benchmark indexes. The monthly returns of REITs show significant volatility during the post-COVID-19 era, which causes return-to-risk ratios to be below those of benchmark indexes. Estimates from multi-factor models indicate negative alpha values across conditional models, indicating that macroeconomic variables cause unremunerated risks. This industry shows great sensitivity to market beta and size and value determinants. Hospitality REITs’ susceptibility comes from their showing the most possibility for exceptional losses across asset classes under Value at Risk (VaR) and Conditional Value at Risk (CvaR) downside risk assessments. The findings have implications for investors and portfolio managers, suggesting that Hospitality REITs may not offer consistent diversification benefits during downturns but can serve a tactical role in procyclical investment strategies. Full article

Oil and gas development is characterized by high technical complexity, strong interdisciplinarity, long investment cycles, and significant uncertainty. To meet the need for quick evaluation of overseas oilfield projects with limited data and experience, this study develops an analogy indicator system and tests multiple machine-learning algorithms on two analogy tasks to identify the optimal method. Using an initial set of basic indicators and a database of 1436 oilfield samples, a combined subjective–objective weighting strategy that integrates statistical methods with expert judgment is used to select, classify, and assign weights to the indicators. This process results in 26 key indicators for practical analogy analysis. Single-indicator and whole-asset analogy experiments are then performed with five standard machine-learning algorithms—support vector machine (SVM), random forest (RF), backpropagation neural network (BP), k-nearest neighbor (KNN), and decision tree (DT). Results show that SVM achieves classification accuracies of 86% and 95% in medium-high permeability sandstone oilfields, respectively, greatly surpassing other methods. These results demonstrate the effectiveness of the proposed indicator system and methodology, providing efficient and objective technical support for evaluating and making decisions on overseas oilfield development projects. Full article

Prescriptive Maintenance (PsM) transforms industrial asset management by enabling autonomous decisions through simultaneous failure anticipation and optimal maintenance recommendations. Yet, despite increasing research interest, the conceptual clarity, technological maturity, and practical deployment of PsM remains fragmented. Here, we conduct a comprehensive and application-oriented Systematic Literature Review of studies published between 2013–2024. We identify key enablers—artificial intelligence and machine learning, horizontal and vertical integration, and deep reinforcement learning—that map the functional space of PsM across industrial sectors. The results from our multivariate meta-synthesis uncover three main thematic research clusters, ranging from decision-automation of technical (multi)component-level systems to strategic and organisational-support strategies. Notably, while predictive models are widely adopted, the translation of these capabilities to PsM remains limited. Primary reasons include semantic interoperability, real-time optimisation, and deployment scalability. As a response, a structured research agenda is proposed to emphasise hybrid architectures, context-aware prescription mechanisms, and alignment with Industry 5.0 principles of human-centricity, resilience, and sustainability. The review establishes a critical foundation for future advances in intelligent, explainable, and action-oriented maintenance systems. Full article

This review addresses the urgent need for alternative strategies to combat drug-resistant mycobacterial infections, including multidrug-resistant (MDR) and extensively drug-resistant (XDR) tuberculosis, as well as non-tuberculous mycobacterial (NTM) diseases. Traditional antibiotics are increasingly limited by resistance, toxicity, and poor efficacy, particularly in immunocompromised patients. A comprehensive literature search was conducted using PubMed, Scopus, and Google Scholar, covering publications primarily from 2000 to 2025. Only articles published in English were included to ensure consistency in data interpretation. Search terms included “mycobacteriophages,” “phage therapy,” “drug-resistant mycobacteria, “diagnostic phages,” and “phage engineering.” The review examines the therapeutic and diagnostic potential of mycobacteriophages—viruses that specifically infect mycobacteria—focusing on their molecular biology, engineering advances, delivery systems, and clinical applications. Evidence suggests that mycobacteriophages offer high specificity, potent bactericidal activity, and adaptability, positioning them as promising candidates for targeted therapy. Although significant obstacles remain—including immune interactions, limited host range, and regulatory challenges—rapid progress in synthetic biology and delivery platforms continues to expand their clinical potential. As research advances and clinical frameworks evolve, mycobacteriophages are poised to become a valuable asset in the fight against drug-resistant mycobacterial diseases, offering new precision-based solutions where conventional therapies fail. Full article

We study the shape of the Bachelier-implied volatility of a spread option on two assets following correlated local volatility models. This includes the limiting case of spread options on two correlated Black–Scholes (BS) assets. We give an analytical result for the at-the-money (ATM) skew of the spread-implied volatility, which depends only on the components’ ATM volatilities and skews. We also compute the ATM convexity of the implied spread option for the case when the assets follow correlated BS models. The results are extracted from the short-maturity asymptotics for basket options obtained previously by Avellaneda, Boyer-Olson, Busca and Friz and, thus, become exact in the short-maturity limit. Numerical testing of the short-maturity analytical results under the Black–Scholes model and in a local volatility model show good agreement for strikes sufficiently close to the ATM point. Numerical experiments suggest that a linear approximation for the spread Bachelier volatility constructed from the ATM spread volatility and skew gives a good approximation for the spread volatility for highly correlated assets. Full article

The movement towards low-emission and sustainable building practices has driven increased use of natural, carbon-based materials such as wood. While these materials offer significant environmental advantages, their inherent flammability introduces new challenges for timber building safety. Despite advancements in fire protection standards and building regulations, the risk of fire incidents—whether from technical failure, human error, or intentional acts—remains. The rapid detection of fire onset is crucial for safeguarding human life, animal welfare, and valuable assets. This study investigates the potential of monitoring fire precursor gases emitted inside building structures during pre-ignition and early combustion stages. The research also examines the sensitivity and effectiveness of commercial smoke detectors compared with custom sensor arrays in detecting these emissions. A representative structural sample was constructed and subjected to a controlled fire scenario in a laboratory setting, providing insights into the integration of gas sensing technologies for enhanced fire resilience in sustainable building systems. Full article