Search Results (2,673)

Spring vegetation phenology is highly sensitive to climate change; however, climate drivers and their threshold responses at the urban scale remain insufficiently and systematically quantified. Focusing on 31 provincial capitals and municipalities in mainland China, this study integrated MODIS MCD12Q2-derived start-of-season (SOS) for spring green-up and TerraClimate climate data (2001–2023) at a 500 m grid resolution. SOS trends were characterized using the Mann–Kendall test and the Theil–Sen slope estimator. Building on these trend metrics, we developed an XGBoost–SHAP framework using the interannual rate of temperature change (tem_slope) and the interannual rate of precipitation change (pre_slope) as input features, to quantify the nonlinear contributions of climate-change rates to SOS trends and to identify key thresholds. Results indicate that the multi-year mean SOS across China’s provincial capitals and municipalities is primarily distributed between approximately DOY 74 and 138, exhibiting a clear spatial pattern of earlier green-up in the south, later green-up in the north, and delayed green-up on plateaus, with pronounced shifts in distribution centers and dispersion among climatic zones and cities. At the city level, the mean SOS trend shows an overall advancing rate of 0.81 d·year⁻¹ (i.e., the average of city-mean Sen slopes across the 31 cities). Pixel-level trend analyses show that advancing and delaying trends commonly coexist within most cities; among pixels with significant or marginally significant SOS trends identified by the Mann–Kendall test (MK p < 0.10) across all cities, advancing and delaying SOS pixels account for 75.02% and 24.98%, respectively. At the city scale, the proportions of advancing versus delaying pixels vary markedly among cities, forming directional structures characterized by advance-dominant, delay-dominant, or bidirectional coexistence patterns. SHAP dependence relationships further reveal that the effects of tem_slope and pre_slope on SOS trends are generally nonlinear and piecewise, with substantial heterogeneity across climate zones and cities. The identified tipping points and associated sensitive ranges collectively delineate spatially differentiated climate-sensitive intervals, which define the nonlinear response boundaries of spring SOS to sustained warming and precipitation changes. This study provides quantitative evidence for regional differences in urban spring phenological responses to climate change across major Chinese cities and offers a methodological reference for identifying actionable climate thresholds in urban greening design and climate-adaptive management. Full article

Implementing sustainability-oriented strategies within the nonprofit sector is often framed through corporate ESG (environmental, social, and governance) frameworks, yet the unique institutional logic of nonprofit organizations (NPOs) demands a more nuanced conceptualization. This study investigates the processes and determinants of sustainable value creation in NPOs, adopting an integrated theoretical framework that dynamically combines Stakeholder Theory, the Resource-Based View, and Institutional Theory. Using a mixed-methods approach, the research combines a thematic synthesis of 60 high-impact papers with confirmatory guided interviews with representatives from eight diverse NPOs. Five core categories of sustainable value creation processes were identified: strategic management, operational management, financial resources management, human capital development, and systemic integration of sustainability. Furthermore, the study identifies 25 determinants formally classified into micro (individual agency), meso (organizational structure), and macro (institutional environment) levels. The findings demonstrate tensions between internal leadership agency and external structural constraints, highlighting the challenges associated with the lack of tailored sustainability tools. It is argued that sustainability in NPOs is a fluid, emergent process defined by mission-driven legitimacy rather than financial materiality. This research provides a diagnostic foundation for assessing ESG readiness and emphasizes the need for reflexive, context-sensitive management tools that align sustainability with the unique nonprofit ethos. Full article

The accurate measurement and optimization of spatial vitality inside commercial complexes has become crucial for sophisticated urban governance as urban growth moves from rapid expansion to quality-oriented stock augmentation. This research creates a multifaceted assessment methodology that incorporates systemic connectedness (transportation synergy), spatial performance (public activity and social efficacy), and spatial supply (human–land linkages and arrangement). We used a stratified purposive sample of 20 business complexes spread across eight districts in Guangzhou, a typical high-density megacity. In order to understand the underlying mechanisms of spatial vitality, we measured important indicators including the Polycentricity Index (α) and the Spatial Performance Index (β) using a mixed-methods approach that included K-means clustering, multinomial logit regression, and Structural Equation Modeling (SEM). Four important insights are shown by our findings. 1. The paradox of density and efficiency: The notion that high-density development inevitably ensures lively public space is called into question by the lack of a significant linear correlation between the Floor Area Ratio (FAR) and spatial performance (r = 0.32, p > 0.05), despite a core–periphery gradient in development intensity. 2. Structural Supply Demand Mismatch: Although overall spatial performance is strong (β = 0.81 ± 0.07), there is a notable shortfall in cultural and artistic venues, where young adults’ demand (0.27) is 145% greater than supply (0.11). 3. Polycentric Networking vs. Transport Polarization: While spatial structures show a networked polycentric pattern (mean α = 6.40), transportation synergy is affected by core–periphery polarization, which results in “vitality islands” in the periphery. 4. Dual-Path Driving Mechanisms: According to SEM results, cultural spaces have a considerable indirect impact (39.7% mediation) by boosting brand uniqueness and “cultural capital,” while composite plaza spaces have a strong direct effect on commercial performance (γ = 0.682). Based on these findings, we suggest distinct optimization strategies: aging projects need climate-responsive design interventions; growing areas should create family-oriented consumption ecosystems; and core districts should give priority to cultural “IP” integration. For the planning and revitalization of commercial land use in high-density global environments, this study offers a solid analytical framework and practical insights. Full article

Financial literacy represents a fundamental competence in contemporary knowledge-based economies, particularly in the context of increasingly complex corporate financing instruments. Insufficient financial literacy may lead to suboptimal debt decisions, inefficient capital structures, and heightened financial vulnerability of firms. The aim of this paper is to assess the level of financial literacy of university students in the field of corporate debt financing and to identify key determinants influencing the correctness of their responses. The empirical analysis is based on a quantitative questionnaire survey conducted among university students in the Slovak Republic (n = 403) using a convenience sampling approach. The questionnaire included 16 knowledge-based items focused on debt financing instruments, interest mechanisms, leasing, bonds, and alternative sources of financing. Data were analysed using descriptive statistics and inferential methods, primarily Pearson’s χ² test of independence and Cramer’s V. The results reveal considerable variability in students’ performance across thematic areas. Higher success rates were observed for basic concepts of debt financing and traditional bank products, while lower performance was recorded for analytically demanding tasks, particularly those related to interest rate comparisons, capital market instruments, and alternative financing forms. Field of study emerged as the most significant determinant of financial literacy, followed by the level of study, whereas gender and region showed only marginal effects. The findings highlight the need to strengthen application-oriented financial education in higher education, with a stronger focus on practical aspects of corporate debt financing. Full article

Background: Smart urban logistics has emerged as a key element of sustainable city development, with direct effects on economic performance, environmental quality, and urban livability. Issues with traffic, pollutants, infrastructure strain, and last-mile delivery efficiency have become more pressing due to rapid urbanization and the expansion of e-commerce. In this regard, underground or enclosed corridor-based tube-based freight transit systems have surfaced as a viable smart infrastructure option for automated and low-impact commodities delivery. Methods: This study adopts an analytical literature review complemented by a structured case study analysis to examine the potential role of tube-based freight transport systems in future urban logistics. Key technological concepts, including pneumatic tubes, automated capsule transport, and integration with digital platforms, the Physical Internet, and smart city management systems, are examined through a structured analytical review of the literature. Results: The outcome of the reviewed studies indicates that tube-based systems can contribute to congestion alleviation, emission reduction, and improved delivery reliability by shifting selected freight flows away from surface transport networks. However, governance frameworks, infrastructure integration, and institutional coordination mechanisms continue to have a significant impact on claimed performance outcomes. Conclusions: Tube-based freight systems represent a promising but conditional pathway toward smarter and more sustainable urban logistics. Their large-scale deployment is forced by high capital costs, standardization challenges, regulatory uncertainty, and social acceptance issues. Coordinated investment plans, encouraging legal frameworks, and integrated urban planning techniques in line with smart city goals are needed to overcome these obstacles. Full article

Population aging is reshaping retirement trajectories, challenging traditional models that conceptualize retirement as a definitive withdrawal from productive roles. While bridge employment has been widely studied, research has largely focused on former salaried employees, leaving the post-retirement pathways of entrepreneurs underexplored. This qualitative case study research examines how seven retired Croatian entrepreneurs engage in bridge employment (paid or voluntary work undertaken after formal exit from their primary businesses) and how they interpret this engagement in later life. Drawing on Continuity theory, the findings suggest that entrepreneurial retirement is better understood as a process of role reconfiguration rather than role exit. Participants strategically redeployed accumulated human, social, and symbolic capital into advisory roles, mentoring, new ventures, and community activities. Contrary to dominant assumptions emphasizing financial necessity, engagement was predominantly intrinsically motivated, grounded in autonomy, competence, and purpose preservation. The study refines Continuity theory by demonstrating that identity continuity among entrepreneurs is structurally scaffolded through retained ownership, networks, and agency. By situating the analysis within a post-socialist transition economy, the paper contributes to retirement and entrepreneurship research by conceptualizing entrepreneurial bridge employment as a redistribution model of engagement in later life. The findings offer theoretical insights and inform policy discussions on active aging and the societal value of retired entrepreneurs. Full article

(1) Background: In integrated financial markets where traditional diversification often fails, analyzing sustainability-oriented investments under non-linear dynamics is critical to averting erroneous decisions. This study investigates whether corporate sustainability provides effective downside mitigation against volatility in emerging markets, using Borsa Istanbul as a case study. (2) Methods: The analysis employs US Dollar-denominated excess returns of an equal-weighted portfolio from the longest-tenured BIST Sustainability Index constituents versus the broader BIST 100 Index (2014–2025), utilizing Markov Regime Switching (MS-AR) and Regime-Switching CAPM methodologies to model non-linear dynamics. (3) Results: Empirical results reveal two distinct regimes, where market variance surges approximately 8.5-fold during crises. The sustainable portfolio exhibits a low systematic risk sensitivity (Beta: 0.76) in normal conditions, driven by its distinct structural composition without generating statistically significant Alpha. In crisis regimes, despite increased sensitivity (Beta: 0.90), the portfolio remains resilient with a beta strictly below 1.00. While BIST 100 investors suffered a massive 40.86% USD wealth erosion over the full period, the sustainability portfolio significantly mitigated this damage, limiting the total capital loss to 20.73% due to substantial compounding accumulated during normal regimes. (4) Conclusions: Consequently, sustainability proves to be not merely an ethical preference but a rational financial strategy offering diversification benefits in tranquility and acting as an effective partial hedge during turbulence in high-volatility markets. Full article

Green financial inputs (GFI) play an important role in promoting green innovation in the manufacturing industry, and accurately evaluating GFI utilization efficiency and its industry heterogeneity is crucial for optimizing green resource allocation. To address this, this study applies a three-stage Data Envelopment Analysis (DEA) model, using panel data of 29 Chinese manufacturing sectors from 2011 to 2024. This model eliminates the interference of environmental factors and statistical noise via the Stochastic Frontier Analysis (SFA) in the second stage, thus obtaining more reliable efficiency evaluation results. The empirical results show that: (1) GFI can effectively improve manufacturing green innovation efficiency (GIE), but the overall utilization efficiency remains at a low level; (2) there exists significant industry heterogeneity, with technology-intensive industries performing best in GFI utilization efficiency, followed by capital-intensive industries, and labor-intensive industries the worst; (3) environmental regulation and green financial market environment significantly improve GFI utilization efficiency, while government green finance support and market structure have no significant effects on it; (4) after eliminating external disturbances, the real GFI utilization efficiency tends to be stable, and the efficiency decline in 2023–2024 is mainly caused by external shocks. Corresponding targeted implications are put forward to optimize GFI allocation and promote balanced green development of China’s manufacturing industry. Full article

Living Wall Systems (LWS) are vertical vegetated building façade systems that offer environmental and social benefits; however, their adoption in South Africa, particularly within the Western Cape (WC), remains limited due to high capital and maintenance costs and the absence of regionally adapted design and cost models. This study investigates the viability and design development of LWS in the WC from a Quantity Surveying (QS) perspective, with the aim of developing a context-specific system utilising indigenous plant species and assessing its economic feasibility over the building life cycle. This study employed a mixed method research approach comprising a literature review, semi-structured interviews with industry professionals, thematic analysis, cost modelling, and the preparation of a detailed Bill of Quantities (BOQ). Life cycle costing (LCC) techniques were applied to evaluate long-term cost implications. The study resulted in the development of a criteria-led, context-adapted LWS model, termed Viridis 5045, which satisfies environmental, technical, and contextual requirements for the WC. The BOQ and LCC analyses provide projected capital and operational cost benchmarks for the proposed system. This study demonstrates that the Viridis 5045 model is technically feasible and contextually appropriate for application within the WC, supporting its consideration in sustainable construction practice when evaluated beyond conventional life cycle financial indicators. Future research should focus on the monetisation of long-term benefits, greywater integration, and Whole Life Costing. Full article

Sustained innovation is pivotal for establishing long-term technological advantages and ensuring corporate sustainability, which holds particular significance for “specialized, refined, unique, and innovative” (SRUI) enterprises that concentrate on niche segments and are innovation-intensive. Grounded in signaling theory and principal–agent theory, and situated within the practical context of financing constraints, this paper investigates how environmental, social, and governance (ESG) performance contributes to sustaining innovation in such firms. Using panel data from Chinese SRUI enterprises between 2010 and 2023, we measure sustained innovation along two dimensions: sustained innovation input and sustained innovation output. The results demonstrate that ESG performance significantly enhances sustained innovation among SRUI enterprises. Mechanism analysis reveals that ESG operates through three pathways: optimizing talent structure, mitigating managerial myopia, and strengthening working capital management. Heterogeneity tests further indicate that the positive effect of ESG on overall innovation sustainability is stronger with a younger management team and lower government subsidies. Moreover, in firms with heightened climate risk perception, ESG strongly promotes the sustained innovation input but exhibits a weaker effect on the continuity of innovative output. In enterprises with stronger big-data technology application capabilities, ESG significantly improves the continuity of patent output yet does not significantly affect the continuity of innovative input. This study extends the literature on the economic consequences of ESG from the perspective of sustained innovation, while providing new mechanistic evidence for understanding how highly specialized small and medium-sized enterprises build long-term innovation capacity. Full article

Sustainable competitiveness has increasingly become an important policy objective for OECD countries, as economic performance is expected to be balanced with environmental protection, social well-being, and effective governance structures. The aim of this study is to evaluate and compare the sustainable competitiveness performance of OECD countries from a holistic perspective. In the analysis, six criteria reflecting the main dimensions of global sustainable competitiveness were considered. Criterion weights were calculated using the CRITIC (Criteria Importance Through Intercriteria Correlation) method, an objective weighting technique that does not rely on subjective judgments. These weights were then integrated with the CoCoSo (Combined Compromise Solution) method to rank the sustainable competitiveness performance of countries. In the final stage, a clustering analysis was applied to group OECD countries exhibiting similar sustainability characteristics. The findings indicate that natural capital emerges as the most influential dimension within the evaluation framework. According to the ranking results, Finland, Sweden, Lithuania, Denmark, and Estonia are positioned among the countries with the highest sustainable competitiveness performance. The results reveal noticeable differences across OECD countries, demonstrating that environmental, social, economic, and governance-related dimensions affect country performance in distinct ways. A direct comparison with the 2025 Global Sustainable Competitiveness Index shows a strong but not perfect association between the two rankings (Spearman’s ρ = 0.977), indicating structural consistency alongside meaningful mid-ranking shifts. Furthermore, the clustering results enable the identification of country groups sharing relatively similar sustainability profiles. Overall, the study contributes methodologically to the sustainable competitiveness literature by integrating objective weighting, multi-criteria decision-making, and clustering analysis within a unified analytical framework, while also offering insights for comparative policy evaluation. Full article

As urban renewal shifts toward inventory optimization, studentification-driven socio-spatial conflicts in university-adjacent communities have intensified. This study examines Changsha Hexi University Town using structural equation modeling (SEM) to analyze residential satisfaction and spatial injustice. Findings reveal that university–community interaction and indoor space perception are primary determinants of satisfaction, highlighting the demand for residential dignity under “spatial squeeze”. Conversely, public resources and social capital exhibit a “decoupling effect” caused by infrastructure “functional alienation” and social fragmentation. A profound “perceptual rift” exists between indigenous owners, facing “spatial deprivation” in resource competition, and student tenants, lacking “spatial dignity” in subdivided units. These tensions are exacerbated by “institutional gating”—where physical openness coexists with administrative restrictions. Consequently, renewal strategies must transcend aesthetics to implement systemic “spatial compensation”. We recommend opening institutional assets, regulating informal rental standards, and establishing collaborative platforms. This research facilitates a paradigm shift from “spatial squeeze” toward “university–community symbiosis”, providing a framework for socio-spatial justice in high-density academic enclaves. Full article

This paper examines public architecture in Baghdad during the late nineteenth and early twentieth centuries, focusing on how public buildings contributed to the formation of urban centrality and how this process interacted with local architectural practices. Rather than approaching public construction solely through administrative or ideological frameworks, the study conceptualizes public buildings as structuring components in the reconfiguration of the urban fabric. Methodologically, the research adopts a two-stage, multi-scalar approach. First, public buildings in Beirut, Damascus, and Baghdad are identified and comparatively analyzed using QGIS-based spatial analysis, employing Kernel Density Estimation and DBSCAN clustering to examine patterns of spatial concentration, distribution, and relationships with major urban axes. This comparative stage establishes a comparative spatial framework for understanding urban centrality in provincial capitals. In the second stage, Baghdad is examined as a focused case study through building-scale architectural analysis, incorporating plan organization, construction techniques, material use, and environmental adaptation based on archival documents, historical maps, and visual sources. The results indicate that public buildings in Baghdad were not isolated institutional entities but integral components in the formation of new urban focal areas structured along river-oriented and infrastructural axes. Architecturally, these buildings exhibit a hybrid character, combining standardized public building programs with locally embedded materials, construction methods, and spatial adaptations. The study concludes that public architecture in late Ottoman Baghdad emerged through a negotiated process between centralized planning principles and local architectural knowledge, producing a distinct yet contextually grounded form of urban centrality. Full article

Compact city policies have been promoted as a mechanism for improving commuting efficiency through higher density and spatial concentration. However, their effectiveness in small and medium-sized cities that experience population decline, such as in small and medium-sized cities in South Korea remains unclear. This study examines how urban compactness and employment spatial structure influence commuting time across different urban contexts in South Korea, with particular attention to contrasts between the Seoul Capital Region and non-capital cities. Using the 2021 Korean Individual Travel Survey, we examine multilevel mixed-effects models that link individual commuting trips to neighborhood-level built environment characteristics and city-level employment spatial structure. The findings reveal systematically different effects of residential and employment density on commuting times. Higher residential density is generally associated with longer commuting times, whereas higher workplace employment density reduces commuting time only in non-capital regions. In the Seoul Capital Region where urban form is already highly compact, further employment densification does not improve commuting efficiency and may even increase commuting time. Instead, shorter commutes are observed primarily where job–housing balance is relatively high and employment is strongly concentrated in a dominant center. Moreover, the contrasting effects of employment Moran’s I and the employment concentration index indicate that employment dominance and spatial clustering capture distinct dimensions of urban spatial structure, with commuting efficiency depending critically on the internal configuration of employment clusters rather than density alone. These findings suggest that, in shrinking cities, compact city policies should be reframed not as strategies of residential densification, but as strategies of functional consolidation, focusing on sustaining viable employment cores and aligning them with transport networks and residential areas. Full article

In the context of a deep structural adjustment of China’s real estate sector and heightened macroeconomic uncertainty, quantitatively assessing the resilience of listed real estate enterprises is crucial for preventing systemic risk and promoting sustainable development. This paper proposes a multidimensional resilience evaluation framework for 37 Chinese A-share listed real estate firms using panel data from 2017–2024. An index system covering four dimensions—solvency and liquidity, profitability and cash flow, operational efficiency and asset structure, and growth and value—is constructed on the basis of financial ratios. The entropy-weighted TOPSIS method is employed to derive a composite resilience index, while principal component analysis (PCA) provides a complementary robustness check of the rankings. The empirical results indicate that (1) operational efficiency and asset structure receive the highest objective weight, followed by solvency and liquidity, whereas the weights of profitability, cash flow, and growth–value dimensions are relatively lower; at the indicator level, accounts receivable turnover, inventory turnover and the cash-to-short-term-debt ratio play a leading role, underscoring the central importance of liquidity safety and asset turnover under the “three red lines” regulatory regime. (2) Firms such as Shahe Co., Shenzhen, China, Huafa Co., Zhuhai, China and Wantong Development, Beijing, China exhibit persistently higher resilience scores, characterized by lower leverage, stronger cash buffers and faster operating turnover, whereas firms such as Yunnan Metropolitan Investment, Kunming, China, Greenland Holdings, Shanghai, China, Bright Real Estate, Shanghai, China and Rongsheng Development, Langfang, China remain at the lower tail of the resilience distribution with high leverage, tight liquidity and volatile profitability. (3) The resilience rankings obtained from entropy-weighted TOPSIS and PCA are positively and significantly correlated at the 1% level, suggesting a moderate level of consistency between distance-based and variance-based evaluation schemes. Building on these findings, this paper proposes resilience-oriented policy recommendations for regulators and managers in terms of differentiated prudential regulation, capital-structure and debt-maturity optimization, operational efficiency enhancement, and the integration of digital transformation and ESG governance. Full article