Search Results (217)

This theoretical essay aims to analyze some of the socio-economic innovations introduced by Platform Capitalism Specifically, it focuses on two main aspects: first, the digital platform as a radical organizational innovation. Digital platforms represent a structural novelty in the market economy, signaling a new organization of production and labor. Second, the essay examines the role of platforms in directly generating value through the concept of “network value”. To this end, it explores the function of “business intelligence” as a strategic and competitive tool. Finally, the paper discusses the key issues associated with platform capitalism, which could threaten its social sustainability and contribute to economic and financial instability. These issues include the increasing commodification of everyday activities, the devaluation of paid labor in favor of free production driven by platform users (the so-called prosumers), and the emergence of proprietary and financial monopolies. Hence, digital platforms do not inherently ensure comprehensive social and environmental sustainability unless supported by targeted economic policy interventions. Conclusively, it is emphasized that defining robust social welfare frameworks—which account for emerging value creation processes—is imperative. Simultaneously, policymakers must incentivize the proliferation of cooperative platforms capable of fostering experimental circular economy models aligned with ecological sustainability. Full article

Based on a comprehensive review of the current research status of ecological compensation both domestically and internationally, combined with field survey data, this study delves into the issue of multi-stakeholder participation in the ecological compensation mechanisms of the Xin’an River Basin. This research reveals that the joint participation of multiple stakeholders is crucial to achieving the goals of ecological compensation in river basins. The government plays a significant role in macro-guidance, financial support, policy guarantees, supervision, and management. It promotes the comprehensive implementation of ecological environmental protection by formulating relevant laws and regulations, guiding the public to participate in ecological conservation, and supervising and punishing pollution behaviors. The public, serving as the main force, forms strong awareness and behavioral habits of ecological protection through active participation in environmental protection, monitoring, and feedback. As participants, enterprises contribute to industrial transformation and green development by improving resource utilization efficiency, reducing pollution emissions, promoting green industries, and participating in ecological restoration projects. Scientific research institutions, as technology enablers, have effectively enhanced governance efficiency through technological research and innovation, ecosystem value accounting to provide decision-making support, and public education. Social organizations, as facilitators, have injected vitality and innovation into watershed governance by extensively mobilizing social forces and building multi-party collaboration platforms. Communities, as supporters, have transformed ecological value into economic benefits by developing characteristic industries such as eco-agriculture and eco-tourism. Based on the above findings, further recommendations are proposed to mobilize the enthusiasm of upstream communities and encourage their participation in ecological compensation, promote the market-oriented operation of ecological compensation mechanisms, strengthen cross-regional cooperation to establish joint mechanisms, enhance supervision and evaluation, and establish a sound benefit-sharing mechanism. These recommendations provide theoretical support and practical references for ecological compensation worldwide. Full article

This paper presents a novel digital identity ecosystem built upon a hierarchical structure of Blockchain tokens, where both government-certified and uncertified tokens can coexist to represent various attributes of an individual’s identity. At the core of this system is the government, which functions as a trusted authority capable of creating entities and issuing a unique, non-replicable digital identity token for each one. Entities are the exclusive owners of their identity tokens and can attach additional tokens—such as those issued by the government, educational institutions, or financial entities—to form a verifiable, token-based digital identity tree. This model accommodates a flexible identity framework that enables decentralized yet accountable identity construction. Our contributions include the design of a digital identity system (supported by smart contracts) that enforces uniqueness through state-issued identity tokens while supporting user-driven identity formation. The model differentiates between user types and certifies tokens according to their source, enabling a scalable and extensible structure. We also analyze the economic, technical, and social feasibility of deploying this system, including a breakdown of transaction costs for key stakeholders such as governments, end-users, and institutions like universities. Considering the benefits of blockchain, implementing a digital identity ecosystem in this technology is economically viable for all involved stakeholders. Full article

This study examines the impact of financial inclusion (FI) on reducing poverty and income inequality in Latin America and the Caribbean (LAC), using panel data from 15 countries for the period 2004–2021. System GMM with robust errors was used to address endogeneity issues, and FI was assessed in terms of access to and use of the financial system. The results indicate that increased FI contributes to reducing poverty and income inequality in LAC. While access to financial services plays a crucial role in poverty reduction, the utilization of financial services has a more profound impact on combating income inequality. These results underscore the importance of policies designed to improve financial access and promote the use of financial products and services. It is recommended to expand the banking infrastructure, facilitate the provision of low-cost accounts, and strengthen financial education programs. Full article

This study examines the degree of alignment between the actual environmental performance and the ESG disclosures of 365 listed financial institutions in Europe for the fiscal year 2024. Although ESG reporting has become a standard practice in the financial sector, there are still concerns that the quality of the disclosure may not accurately reflect substantive environmental action, which increases the risk of greenwashing. This study addresses this issue by incorporating both ESG disclosure indicators and green accounting metrics into a multi-criteria decision-making framework. This framework is supported by entropy-based weighting to assure objectivity in criterion importance, as outlined in the PROMETHEE II method. The Greenwashing Risk Index (GWI) is a groundbreaking innovation that quantifies the discrepancy between an institution’s classification based on ESG transparency and its performance in green accounting indicators, including environmental penalties, provisions, and resource usage. The results indicate that there is a substantial degree of variation in the performance of ESGs among institutions, with a significant portion of them exhibiting high disclosure scores but insufficient environmental substance. These discrepancies indicate that reputational sustainability may not be operationally sustained. The results have significant implications for regulatory supervision, sustainable finance policy, and ESG rating methodologies. The framework that has been proposed provides a replicable, evidence-based tool for identifying institutions that are at risk of greenwashing and facilitates the implementation of more accountable ESG evaluation practices in the financial sector. Full article

This study investigates cyclical asymmetries in money demand models considering the moderating effect of financial development. Prior research has overlooked this issue in the money demand literature within the Fijian context, where research is outdated. Using annual data from 1983 to 2023, we find that income elasticity is about positive unity, irrespective of recessions or expansions. In expansions, an increase in interest rates reduces money demand. An increase in interest rates reduces money demand nine times more strongly in recessions. These effects are accentuated with financial development. Declining interest rates do not impact money demand. The findings suggest that stable money demand could be achievable, but only once the impact of structural breaks is accounted for. Under ideal conditions—without such breaks—money demand exhibits stability, and its connection to income and interest rates appears predictable. However, in reality, structural disruptions complicate this relationship, making money demand less consistent with its key drivers and undermining the reliability of money supply as a monetary policy instrument. The findings align with the pulling on a string hypothesis that monetary contractions control inflation, but expansions may not impact output. Full article

Under the international globalized environment, the impact of the financial crisis of 2008 and the recent financial effect of the COVID-19 economic recession have generated a new role for the state aimed at reducing vulnerability to a new financial shock. Cost analysis is currently an issue among public authorities, inhibiting enhanced productivity and the effectiveness and utility of public services and goods. This article aims to showcase that the basic priorities of a high degree of transparency and accountability of public spending are becoming more and more essential. The need for cost allocation is essential for states to be resilient under the current ‘spin’ of crises. Full article

Approximately two decades after the approval of POCP, and following an assessment of the need for an accounting system that meets the demands of proper planning, accountability, and financial control, the SNC-AP was introduced. This system, regulated by 27 Public Accounting Standards, has faced challenges in its implementation. Therefore, it is relevant to analyze how managers of Portuguese higher education institutions (HEIs) perceive this issue. The objective of this research is to determine whether HEI managers use management control tools, which management control models are adopted, and the difficulties encountered in their implementation. To achieve this, a qualitative empirical study was conducted through semi-structured interviews with 12 administrators and financial directors from Portuguese higher education institutions (HEIs). The results show that management accounting is complex and challenging to implement. Portuguese HEIs are still in the early stages of adopting these tools, with progress limited to defining activities and cost centers. Conditions have not yet been established to calculate, for example, the cost per course, student, project, or service, as outlined in NCP27 of the SNC-AP. Full article

Section 195(b) of South Africa’s Constitution calls for the efficient use of resources in public administration, while the White Paper on Local Government similarly emphasizes the efficient provision of basic services such as refuse collection and water. Despite these policy commitments, South African municipalities continue to be characterized by financial mismanagement and poor service delivery. In light of the limited empirical evidence on this issue, this study pursues two objectives. First, it estimates the levels of cost inefficiency in four local municipalities within the Frances Baard District from 2006 to 2023. Second, it determines how cost inefficiencies affect service delivery, focusing on water and refuse collection. Using a stochastic frontier analysis, several key results are confirmed. First, on average, the four municipalities are found to have spent 17.23% above the minimum cost required to deliver existing services. Second, service delivery is found to have been 23% lower than its potential. Third, operating costs and contracted services are found to have been key drivers of wasteful expenditure. Lastly, cost inefficiencies are found to have culminated in poor service delivery. Against this background, municipalities are urged to consider cutting non-essential operational spending such as entertainment and travel allowances, coupled with improved accountability on contracted services. Full article

Focusing on issues related to SDG 11 (Sustainable Cities and Communities) and SDG 13 (Climate Action), this study aligns with the framework of the 2030 Agenda for Sustainable Development. This study explores the barriers unique to the industry that obstruct the adoption of low-carbon emission solutions in Jordan’s multi-family residential buildings. Multi-family apartments constitute 73% of the total housing stock and account for over 80% of all residential structures. A total of eight main barriers that are preventing the implementation of low-carbon emission techniques were evaluated. The Fuzzy Delphi Method was utilized to gather insights from the Consultancy Council members of the Jordan Housing Investors Association. The results suggest that a major obstacle is the insufficient knowledge among end-users regarding environmental concerns, along with financial limitations, resulting in a lack of enthusiasm for low-carbon multi-family apartments. Moreover, insufficient cooperation between consultants and contractors leads to subpar constructability, which is worsened by the prevailing conventional procurement method that prioritizes cost and schedule above environmental consequences. To further investigate, it is advisable to examine the utilization of contemporary procurement methods, such as Design–Build and Construction Management and modern family contracts such as NEC4 in the housing industry of Jordan. These alternative methods have the potential to solve the current difficulties by promoting more effective and environmentally friendly building practices. Full article

Sexually transmitted infections (STIs) remain a global issue, causing health problems and financial burdens. This study aimed to provide an update on the invasive pathogens and analyze any associated factors in patients visiting Da Nang Dermato-Venereology Hospital who were diagnosed with genital tract infections in males and lower genital tract infections in females; 535 participants underwent clinical examinations and microbiological tests to identify the invasive microorganisms, before we analyzed previously gathered laboratory results and associated risk factors. The rate of infection was 37.6% amongst 535 participants. Treponema pallidum infection accounted for the highest rate of 21.3%, followed by HSV, standing at 6%. The prevalence of syphilis infection was highest in the 20–29 age group, standing at 51.7%. There was a positive correlation between age under 20 and infected conditions (OR = 3.78, 95% CI: 1.41–10.11, p = 0.008). Having multiple sexual partners was identified as a risk factor for infection, as those with three or more sexual partners showed a high correlation (OR = 3.19, 95% CI: 1.44–7.05, p = 0.004). The high syphilis prevalence among young adults and teenagers underscores the need for improved STI education and screening programs in Vietnam. Full article

Epilepsy, one of the most common neurological diseases in the world, affects around 50 million people, with a notably disproportionate prevalence in individuals residing in low- and middle-income countries (LMICs). Alarmingly, over 80% of annual epilepsy-related fatalities occur within LMICs. The burden of the disease assessed using Disability Adjusted Life Years (DALYs) shows that epilepsy accounts for about 13 million DALYs per year, with LMICs bearing most of this burden due to the disproportionately high diagnostic and treatment gaps. Furthermore, LMICs also endure a significant financial burden, with the cost of epilepsy reaching up to 0.5% of the Gross National Product (GNP) in some cases. Difficulties in the appropriate diagnosis and treatment are complicated by the lack of trained medical specialists. Therefore, in these conditions, adopting artificial intelligence (AI)-based solutions may improve epilepsy care in LMICs. In this theoretical and critical review, we focus on epilepsy and its management in LMICs, as well as on the employment of AI technologies to aid epilepsy care in LMICs. We begin with a general introduction of epilepsy and present basic diagnostic and treatment approaches. We then explore the socioeconomic impact, treatment gaps, and efforts made to mitigate these issues. Taking this step further, we examine recent AI-related developments and their potential as assistive tools in clinical application in LMICs, along with proposals for future directions. We conclude by suggesting the need for scalable, low-cost AI solutions that align with the local infrastructure, policy and community engagement to improve epilepsy care in LMICs. Full article

The Student’s t-distribution provides a thematic connection between the historical and technical elements of this paper. The historical section offers a brief account of the early contributions of Chris Heyde and his collaborations with Madan and Seneta in the development of financial mathematics. The technical section focuses on hypothesis testing, motivated by the observation that, in a setting with pairwise exchangeable dependence for test statistics, the cutoff methods proposed by Sarkar and colleagues in 2016 can be viewed as a first iteration of the classical approach developed by Holm in 1979. These methods had already been refined earlier by Seneta and Chen in their work from 1997 and 2005, which laid the foundation for further improvements. Building on this, a new iteration of the Seneta-Chen method is presented, offering enhancements over the Sarkar approach. Numerical and graphical comparisons are provided, focusing on equal tails testing within the multivariate t-distribution framework. While the tabulated results clearly show improvements with the new procedure, the simulated family-wise error rates across varying correlations reveal only minor practical differences between the iterative methods. This suggests that, under suitable conditions, a single iteration suffices in practice. The paper concludes with personal reflections from the first author, sharing memories of Joe Gani and Chris Heyde, in keeping with the commemorative nature of this issue. Full article

Household savings are a long-term financial issue that can undermine the financial well-being of American families if not addressed. This study examines financial planning strategies through the Behavioral Life-Cycle (BLCH) hypothesis, focusing on long-term savings goals, financial safety nets, and foreseeable expenses. Using data from the 2022 Survey of Consumer Finances, a moderated mediation model explores how financial safety nets, self-control, and mental accounting influence saving habits. The findings show that long-term savings goals significantly mediate the relationship between financial safety nets and saving habits, while foreseeable expenses do not significantly moderate this relationship. These results highlight the importance of goal setting in promoting saving behaviors, regardless of specific financial needs. Policymakers can leverage these findings to design initiatives that encourage structured savings programs, while financial advisors should emphasize goal-setting strategies to help households improve their financial security. This research contributes to a deeper understanding of the behavioral and economic factors that drive personal savings, offering valuable insights for both policymakers and financial practitioners aiming to boost financial well-being in households. Full article

The integration of blockchain (BC), artificial intelligence (AI), and green finance (GF) to promote sustainable investments and tackle environmental issues is examined in this study. By employing sophisticated analytical methods, the study seeks to pinpoint the main forces behind GF growth, especially in the field of renewable energy. To guarantee reliable statistical analysis, financial data from Taiwanese companies listed on the stock exchange between 2000 and 2020 are examined using the Generalized Method of Moments (GMM). Furthermore, to make use of AI’s potential to pinpoint the key elements affecting GF development and investment, attention-based convolutional neural networks (CNNs) are used. The links between GF, BC, and AI are analyzed and visualized using a novel method called the Financial Filtered Graph (FFG). The results of the study demonstrate that by increasing the precision of investment forecasts and identifying critical factors that affect GF growth, AI-driven solutions can greatly improve the sustainability of green finance strategies. The suggested methodology effectively supports sustainable investment decisions, as evidenced by its remarkable 98.8% classification accuracy. According to the findings, integrating AI and BC has a lot of potential to enhance green finance’s accountability, transparency, and decision-making processes, all of which will support long-term economic and environmental sustainability. Full article