Search Results (54)

Accurate corporate credit ratings are essential for financial risk assessment; yet, traditional methodologies relying on manual evaluation and basic statistical models often fall short in dynamic economic conditions. This study investigated the potential of machine-learning (ML) algorithms as a more precise and adaptable alternative for credit rating predictions. Using a seven-year dataset from S&P Capital IQ Pro, corporate credit ratings across 20 countries were analyzed, leveraging 51 financial and business risk variables. The study evaluated multiple ML models, including Logistic Regression, Support Vector Machines, Decision Trees, Random Forest, Gradient Boosting (GB), and Neural Networks, using rigorous data pre-processing, feature selection, and validation techniques. Results indicate that Artificial Neural Networks (ANN) and GB consistently outperform traditional models, particularly in capturing non-linear relationships and complex interactions among predictive factors. This study advances financial risk management by demonstrating the efficacy of ML-driven credit rating systems, offering a more accurate, efficient, and scalable solution. Additionally, it provides practical insights for financial institutions aiming to enhance their risk assessment frameworks. Future research should explore alternative data sources, real-time analytics, and model explainability to facilitate regulatory adoption. Full article

In order to solve the problem of the lack of an index system of influencing factors and an unclear evolution path of prefabricated housing development in Hainan Province, a method of identifying key influencing factors and analyzing the evolution path based on a back propagation neural network (BPNN) and decision experiment and evaluation laboratory (DEMATEL) was proposed. Firstly, the index system of influencing factors was constructed based on grounded theory; then, the key influencing factors were revealed through an expert survey and a BPNN-optimized DEMATEL model; finally, the evolution path of key influencing factors was explored. The research results show that factors F₁ (imperfect standards and specifications), F₂ (imperfect incentives), F₉ (lack of motivation for corporate strategic transformation), F₁₄ (insufficient market demand), and F₁₇ (ununified design product standards) are the top five key influencing factors. Among the three basic paths and three composite paths, the weight of the composite path is higher than that of the basic path, and the degree of influence gradually increases with the complexity of direct and indirect effects between key influencing factors. In addition to coupling the basic path with key influencing factors, the composite path can also be obtained through the interaction evolution of the basic path. Full article

The main objective of this paper is to examine the impact of ESG management on corporate performance by focusing on board characteristics. To this end, this study uses financial data and empirical panel data of Fortune 300 firms from 2008 to 2021 and firm-specific ESG scores derived from the European Sustainability Reporting Standard (ESRS) to conduct an empirical analysis. Specifically, a panel model analysis was conducted to examine the relationship between ESG management and firm performance using alternative variables on board characteristics. In the basic model analysis, we adopted alternative variables for ESG management and board characteristics and conducted a panel model analysis to examine the relationship between these factors and corporate performance. In the basic model analysis that included board characteristics, only board size (+) and nationality diversity (−) had a statistically significant effect on corporate performance, while gender diversity had no statistically significant effect on corporate performance. However, in the full model analysis, where board characteristics and ESG management were combined, factors E (−) and S (+) had statistically significant effects on firm performance, confirming that the presence of a board of directors leads to better performance. We found that the effects of E and S on firm performance were reversed, indicating that there is a difference in the cost of ESG management by factor. Finally, G did not have a statistically significant relationship with firm performance, which was likely due to the fact that the characteristics of the board were already reflected in ESG, confirming the role of the board. As a result, the board of directors seems to help with the smooth implementation of ESG management by focusing on internal stabilization and communication, suggesting that future research should consider the impact of the board of directors rather than analyzing ESG management in isolation. The results also show that the board of directors in the G sector has a significant impact on ESG management, but it is not treated as an important factor in ESG evaluation criteria, suggesting that it is necessary to reflect factors on stakeholder communication. Finally, the practical implication is that a united board is necessary to implement ESG management in corporate operations. Full article

Prior research has demonstrated the value of an entrepreneurial mindset in business. The so-called third mission is also becoming an increasingly important aspect of university operations. This involves leveraging knowledge generated at the university level to create close links with society and the economy. The role of intrapreneurs has been examined in the corporate, for-profit sector. However, these agents of change also play a significant role in the advancement of entrepreneurial universities. The present research investigates the role of intrapreneurs in entrepreneurial universities through a bibliographic analysis using RStudio biblioshiny on the Scopus and Web of Science databases. It is evident that the literature on this subject has gained interest in recent years, yet the number of documents remains limited, with a small number of authors publishing them. The development of keywords is also notable, including the emergence of sustainability, which is linked to intrapreneurs and the entrepreneurial universities. Although this study has its limitations, it can show how and where authors should publish, what the basic and the emerging topics are, what the most important keywords are and how these are connected and how countries cooperate in searching for solutions in this globally recognized research area. Full article

This study looks at how basic research capabilities develop within enterprise clusters, focusing on the complex and adaptive nature of these systems. It builds a conceptual model using systems theory and applies information entropy to measure how much these capabilities have emerged. This study introduces an innovative application of information entropy to model and quantify the emergence of research capabilities within enterprise clusters, offering a novel framework for assessing research development. To dive deeper, China Pingmei Shenma Group (Henan, China) was used as a case study. A case study approach was used to gather empirical data. This case—focused on a state-owned enterprise cluster in China’s coal-based energy and chemical industries—highlights the key factors that influence research capability growth. These factors include support from external systems, how internal resources are used, and their renewal over time. From 2017 to 2022, the study tracked how the organization of research capabilities evolved over time by tracking changes in entropy, revealing the process of research development driven by both internal and external forces. The methodology involves measuring system entropy to evaluate the degree of orderliness and innovation performance, incorporating entropy generation and exchange metrics, which allows for a more precise understanding of system emergence and complexity. The interactions within the system, such as knowledge exchange, research collaboration, and external input from government subsidies or tax incentives, are modeled to track how they influence the system’s overall entropy. This study finds that the ability of an enterprise cluster to bring in external resources and reduce internal inefficiencies is critical for enhancing research capabilities. This model can help policymakers and enterprises in strategic decision-making, particularly in industries undergoing technological transformation. This framework also provides practical insights for improving research collaboration and innovation in enterprise clusters, especially in rapidly evolving industries like energy and chemicals. Full article

The present work examines the relationship between aerial spraying and its health impacts on the population living in the banana production areas of Ecuador (the rural sectors of the cantons Milagro and Naranjito, Guayas Province). Objectives: the objectives of this study are to obtain information on sanitation, basic services, and environmental rationality and to interpret the low levels of cholinesterase and prevalent diseases among the population. Methods: the methodology involved a face-to-face questionnaire, the formal authorization of an informed consent document, and venipuncture for cholinesterase tests. The information was processed in the EPI–INFO system 7.2 (statistical software for professionals and researchers dedicated to public health), with the certification of protocols issued by the Bioethics Committee of the Kennedy Hospital Clinic of Ecuador. Results: the results showed that 89.5% of inhabitants do not have access to drinking water, 92.5% do not have a sewage disposal service, 97.50% experience aerial spraying at their homes or workplaces, and 57% have low cholinesterase levels. Additionally, several gastrointestinal, respiratory, neurological, dermatological, and reproductive disorders were detected among the inhabitants. Conclusions: we found that companies in the banana sector have not implemented corporate social responsibility measures. For example, no blood tests are conducted to monitor cholinesterase levels or to track hereditary disorders. Moreover, entities such as the Ministry of Public Health have not taken action to serve this at-risk population. Full article

This study is the first to comprehensively investigate the impact mechanism of organizational resilience on the sustainable competitive advantage of enterprises based on dynamic capability theory, social network theory, and resource dependence theory. It systematically analyzes the multidimensional effects of organizational resilience and reveals the moderating effect of the network digital atmosphere and environmental dynamism on strategic capabilities. Herein, six basic hypotheses and 19 sub-hypotheses are proposed. Through the analyses of 386 valid questionnaires in the Yangtze River Delta and Pearl River Delta regions, the results show that organizational resilience has a positive impact on the sustainable competitive advantage of enterprises, and strategic capability plays a mediating role through two dimensions, which are strategic formulation capability and resource integration capability. In addition, the network digital atmosphere and environmental dynamics regulate the relationship between organizational resilience and strategic capability in different dimensions. The research results provide empirical support for strengthening corporate strategic capabilities, responding to environmental changes, maintaining competitive advantages, and achieving the sustainable development of enterprises. Full article

This paper seeks to investigate how earnings quality is affected by related party transactions (RPTs). The research also examines the impact of ownership structure as a moderating variable on this relationship. Panel data with the firm fixed effects model are utilized in the paper. A sample of 91 non-financial companies listed on the Saudi Stock Exchange between 2018 and 2022 were included, resulting in 429 observations of company performance over that time period. This paper finds that there is a negative association between RPTs and earnings quality. Furthermore, the study found that the adverse effect of RPTs on earnings quality is intensified when there is managerial ownership and institutional ownership as moderating variables. The study’s conclusions are robust and reliable, as the sensitivity analysis results reinforce those of the basic analysis. To the authors’ knowledge, there is relatively little available evidence on the connection between RPTs and their correlation with earnings quality, particularly in the context of ownership structure acting as a moderating variable. Moreover, the study’s findings hold important implications for enhancing earnings quality in developing economies. To the authors’ knowledge, no studies have been conducted in Saudi Arabia thus far to investigate the impact of ownership concentration, institutional ownership, managerial ownership, foreign ownership, and state ownership on the association between RPTs and earnings quality. Therefore, this paper expands the literature by modeling how the interaction between ownership structure and related party transactions may influence earnings quality. In this way, the authors contribute to the body of knowledge by unveiling a more robust control mechanism, particularly in developing economies with ineffective markets for corporate control. Full article

Today’s companies operate in a dynamic, constantly evolving, and highly competitive environment. The globalization of markets has significantly changed the economy, where companies operate within increasingly complex supply chains. The ever-increasing expectations of customers and company stakeholders, as well as the need to incorporate a comprehensive approach to the life cycle of manufactured products in corporate strategies, expose companies to a whole range of risks. The research was based on the need of organizations operating in the (automotive) industry to manage the dynamics of the business environment. This was accomplished using an appropriate model that, through its universality, would help to ensure the effective risk management in a holistic approach, protecting their performance and meeting the needs of the relevant stakeholders. The main idea of the research was to create and implement a dynamic model of risk management in the environment of a production organization based on the use of available methods such as SWOT, PESTLE, brainstorming, affinity diagrams, risk matrix, SIPOC diagram, risk, and the results of questionnaire surveys. The research was conducted in two directions: (1) designing the structure of the dynamic risk management model for the strategic management process; and (2) verifying the effectiveness of the proposed model in specific cases and evaluating the technical and economic benefits. To support the dynamics of the model, three basic management tools have been proposed: process review, internal audit, and management review, enriched with features that support the concept of risk-based thinking. Full article

This paper analyzes the effects of Environmental, Social, and Governance (ESG) performance on corporate financial performance (CFP), enriching the research on the intrinsic mechanism between ESG and financial performance in developing countries. This study uses a data sample of A-share listed companies in Shanghai and Shenzhen, China from 2009 to 2021, and adopts a two-way fixed effects model research methodology with fixed time and industries to explore the relationship and intrinsic mechanism between the two in conjunction with relevant basic theories. The study findings indicate that ESG performance exerts a positive influence on CFP by fostering corporate innovation. Corporations with good ESG performance in the long term may be more conducive to good CFP. When corporations face financial constraints, the role of ESG performance in enhancing CFP weakens. Heterogeneity analyses indicate that ESG performance contributes more to the CFP of non-state-owned enterprises (non-SOEs). The negative moderating influence of financial constraints is more pronounced in non-SOEs. Additionally, ESG performance promotes the improvement of CFP in non-heavy polluting corporates. This research study extends a scientific foundation for how corporates can improve CFP and increase market competitiveness. Full article

Background: In the current global market, innovations are one of the tools of sustainable development. Therefore, companies must change their attitudes toward innovation strategies in accordance with international and national environmental standards, laws, and market requirements. We often come across, in particular, the evaluation of economic factors of sustainability, which cannot capture the attitudes of companies to the solved issue of the perception of innovation as a tool of sustainable development. Therefore, the Kano model and cluster analysis are used to evaluate the attitudes of Slovak small and medium-sized enterprises towards innovation, and the aim of this paper is to evaluate innovation as a tool of sustainability in enterprises in Slovakia. Methods: This article’s main research method is the Kano model and cluster analysis. Conclusions: The findings of this paper reveal how small and medium-sized enterprises in Slovakia perceive innovation as a tool for sustainable development. Based on the results, we can state the positive attitude of small and medium-sized enterprises towards innovations supporting sustainable development, focusing on frugal innovations characterized by cost reduction, as well as innovation targeting functions, standards, laws, and performance optimization. They perceive these innovations as attractive and their implementation in corporate structures as a basic function for sustainable development through innovation. Full article

The purpose of this study was to combine simulations and experiments in order to present the first stage of construction in product lifecycle management. Based on the simplification of casting models, the relationship between the filling and solidification characteristics, casting methods, and geometrical classifications of aluminum alloy precision casting products was investigated. By rearranging and summarizing the data, the casting models could be digitally managed; moreover, the digitized data could be used as the basis for intelligent processes in further developments. The simulations calculated and analyzed the casting speeds, defect locations, material densities, and critical fraction of a solid A356 aluminum–silicon alloy; the actual casting was carried out and samples were taken for metallographic observation to confirm the simulation results. The part model was simplified with four basic geometric shapes: solid cylinder, tubular, block rectangle, and thin-shell rectangle. The 150 casting models were summarized using 37 combinations, which were further classified into five main categories to match the casting method: solid cylindrical, tubular, and thin-shell rectangular for side casting, and discoidal and plate rectangular for bottom casting. File-compression rates of up to 75% were achieved after classification and archiving, and data integrity was maintained. Finally, model training using random forest classification resulted in an 88.8% accuracy when predicting the casting method. This research is based on the practical issues raised by business owners and R&D engineers, and a solution was obtained. From the perspective of product lifecycle management, the results of this study show the consistency and uniformity of product design rules, as well as the reusability of product process planning, which can be integrated with carbon emissions trading and carbon taxes to save energy and achieve corporate sustainability. Full article

This paper aims to examine the publication metrics of literature related to the influential aspects of ESG (environmental, social, and governance), SRI (socially responsible investing), ethical, and impact investing on the portfolio and financial performance literature. It also seeks to identify major patterns and core themes in this topic and draw lessons from the past literature for future directions. Data from the SCOPUS database were used in this study. The ‘biblioshiny’ R package, also known as ‘bibliometrix 3.0’, was employed to conduct bibliometric analysis, utilising mapping and clustering techniques on 260 articles, in order to distil the comprehensive knowledge and identify emerging trends in ESG, SRI, ethical, and impact investing. The thematic map classified the ESG, SRI, ethical, impact investing and performance relationship themes into four categories of themes: niche themes (SRI, engagement and ESG), motor themes (corporate financial performance, corporate social performance, ESG, ESG factors, sustainability, performance, integrated reporting, gender diversity, and board size), emerging or declining themes (social responsibility, environmental performance, socially responsible investment, ethical investment, and SRI), and basic or transversal themes (financial performance, corporate social performance, ESG performance, environmental, social, and governance). Socially responsible investing, engagement, and ESG imply a position between niche themes and a highly developed topic/emerging or a decreasing theme, while the impact of COVID-19 on sustainability and financial performance implies a position between a highly developed topic/emerging or decreasing theme and a basic theme. The findings contribute to the enhanced understanding of ESG, SRI, ethical, impact investing and performance, which are crucial for an efficient capital market in promoting sustainability and sustainable development. The study offers vital practical implications and future research directions. Full article

The present study entails an ethnographic investigation of nomadic Cigano/Roma families in Portugal, examining their living conditions and corporeal experiences. The study centers on families that are forcibly moving throughout the Alentejo region of Portugal, with a particular focus on the relationship between geopolitical/urban space and corporeality. The movement of these families is motivated by a search for a safe place to camp and earn enough money to sustain their family group. The research aims to provide an in-depth understanding of the struggles and challenges that these families face in their daily lives, drawing on ethnographic and visual data to explore their experiences. Through an analysis of their voices and experiences, the study highlights the difficulties of finding better living conditions and the everyday struggles of life under tarps, without access to basic necessities such as water, energy, and sanitation. Ultimately, this research offers insights into the complex interplay between geography, social and economic structures, and the corporeal experiences of marginalized communities. Full article

This study investigated the structural relationship between the green behavior of green hotel users by integrating and applying green corporate social responsibility (GCSR), the norm activation model (NAM), and theory of planned behavior (TPB). The survey targets were customers who have visited green hotels at least 1–2 times in the past two years and completed an online (mobile) self-written Google survey. In addition, to increase the validity of the research hypothesis of this study, the definition of green hotel CSR was simply explained for understanding before the survey began. Four hundred and fifty surveys were distributed for a month from 15 October 2022, and 386 samples were used for final analysis, excluding non-response, and SPSS and Amos programs were used for the analysis. The analysis results of the research hypothesis are as follows. In the process of GCSR on the green behavior of hotel users, the relationships between awareness of consequence (AC), ascription of responsibility (AR), and personal norm (PN) of NAM were all found to have a significant effect. Therefore, H1a–d are supported. Additionally, in the context of another theory, TPB, in the process of GCSR on the green behavior of hotel users, the study verified the relationship between attitude (AT), subjective norm (SN), and perceived behavioral control (PBC) of TPB. However, GCSR has no significant effect on PBC, so H2c was rejected, and PBC has no significant effect on green behavioral intention (GBI), so H4c was rejected. Finally, subjective norm (SN) as a variable of TPB was found to have a significant positive effect on PN as a variable of NAM. Thus, H3 was supported. This study intends to present useful basic evidence by providing academic and practical implications for establishing the management strategy of hotel companies. Full article