Search Results (1,861)

Recent theoretical and empirical studies highlight that information asymmetry and owner–manager conflict of interest can distort corporate investment decisions. Building on this premise, we hypothesize that superior environmental, social, and governance (ESG) performance mitigates these frictions by (H1) alleviating financing constraints and (H2) intensifying external analyst scrutiny. To test these hypotheses, we examine all Shanghai and Shenzhen A-share non-financial firms from 2009 to 2023. Using panel fixed-effects and two-stage least squares with an industry–province–year instrument, we find that higher ESG performance significantly reduces investment inefficiency; the effect operates through both lower financing constraints and greater analyst coverage. Heterogeneity analyses reveal that the improvement is pronounced in small non-state-owned, non-high-carbon firms but absent in large state-owned high-carbon emitters. These findings enrich the literature on ESG and corporate performance and offer actionable insights for regulators and investors seeking high-quality development. Full article

The rapidly changing dynamics of the digital age reshape the addiction relationship that high school students establish with technology. While smartphones remove boundaries in terms of communication and access to information, their usage triggers a source of anxiety and nomophobia. The increase in students’ anxiety levels because of their over-reliance on mobile phone use leads to significant behavioral changes in their mental health, academic performance, social interactions and financial dependency. This study examined the nomophobia levels of high school students according to selected socio-demographic indicators. Using the relational screening model, the multistage sampling technique was used to select a sample of 884 participants: 388 from Science High School and 496 from Anatolian High School (459 female, 425 male, Mage = 16.45 ± 1.14 year). Independent sample test and One-way ANOVA were applied. Depending on the homogeneity assumption of the data, Welch values were considered, and Tukey tests were applied as a second-level test from post hoc analyses. Comprehensive analyses of nomophobia levels revealed that young individuals’ attitudes towards digital technology differ significantly according to their demographic and behavioral characteristics. Variables such as gender, physical activity participation, grade level and duration of smartphone use are among the main factors affecting nomophobia levels. Female individuals and students who do not participate in physical activity exhibit higher nomophobia scores. Full article

Despite the importance of financial literacy, particularly in sustaining and improving rural agriculture, it is documented in the literature that little is known about financial literacy, particularly in rural communities in developing countries. Responding to the calls for research to address this gap, the current study investigates how financial literacy relates to access to funding, innovative service adoption, and sustainable food production among agricultural food producers in Nigeria’s rural communities. A probability sampling technique was used to draw 460 samples from registered rural farmers in the Central Bank of Nigeria’s Anchored Borrower’s Programme for food production in Edo State, Nigeria. Quantitative data were collected using a structured questionnaire. The hypotheses were tested using regression analysis, while descriptive statistics were deployed to analyse the demographic data of the respondents. The outcomes suggest that financial literacy has significant links with access to funding, innovative service adoption and sustainable food production among agricultural food producers in Nigerian rural communities. Based on the outcomes, it is concluded that financial literacy significantly influences sustainable food production in Nigerian rural communities. As such, there is a need for the Nigerian government and financial authorities to embark on a financial literacy drive to increase financial literacy, particularly in light of ever-evolving disruptive financial technologies. Full article

Background: Despite growing interest in the literature on Parkinson’s disease (PD) on cognitive functioning, financial incompetence—a crucial aspect of daily living—and its modulation susceptibility by PD treatment regimens remains relatively understudied. Objective: This systematic review and meta-analysis aimed to synthesize existing evidence on how PD treatments affect financial capacity, assessing both direct financial competence and cognitive or behavioral proxies of financial decision-making. Methods: A comprehensive literature search according to PRISMA protocol was conducted across major biomedical databases, supplemented by gray literature and manual reference list checks. Eligible studies assessed financial capacity directly or indirectly through cognitive proxies (e.g., executive function, decision-making) or financial risk behaviors (e.g., impulse control disorders). Two separate meta-analyses were performed. Heterogeneity (I²), publication bias (Egger’s test), and sensitivity analyses were conducted to assess robustness. Results: Twenty-three studies met inclusion criteria. One study directly measured financial capacity and was analyzed narratively, reporting diminished competence in patients on levodopa therapy. A meta-analysis of cognitive proxies (10 studies) showed a moderate effect size (Hedges’ g = 0.70, 95% CI [0.45, 0.92], p < 0.001), indicating that PD treatments negatively affect executive function and financial decision-making. A second meta-analysis of impulse control and financial risk behaviors (12 studies) revealed a larger effect size (Hedges’ g = 0.98, 95% CI [0.75, 1.22], p < 0.001), strongly linking dopamine agonists to increased financial risk-taking. Moderate heterogeneity (I² = 45.8–60.5%) and potential publication bias (Egger’s test p = 0.027) were noted. Conclusions: These findings suggest that PD treatments negatively impact financial decision-making both directly and indirectly through cognitive and behavioral pathways. Integrating financial decision-making assessments into PD care, particularly for patients on dopamine agonists, is recommended. Future research should prioritize longitudinal studies and standardized neuropsychological measures to guide clinical practice and optimize patient outcomes. Full article

This study analyses the conditions under which co-opetition improves the supply of healthcare services in Benin. Using non-centralised administrative data from a sample of public and private health centres, we apply network theory and negative binomial regression to assess the extent to which competition affects collaboration between public and private healthcare providers. We found that competition reduces the degree of collaboration between private and public health providers. However, the COVID-19 pandemic significantly mitigated this effect, highlighting the potential for competition within the healthcare system without compromising social welfare. Notwithstanding that, we show that these benefits are not sustained over time. These findings have policy implications for the sustainability of health system financing in Africa, particularly by promoting sustainable financial mechanisms for the private sector and more inclusive governance structures. Full article

The rapid growth of mobile financial services provides significant opportunities for enhancing digital financial inclusion among older adults. However, elderly consumers often lag in adoption and sustained usage due to psychological barriers (e.g., technology anxiety) and factors related to prior experience and comfort with technology (e.g., technology familiarity). This study investigates how technology anxiety and technology familiarity influence elderly consumers’ continuance intention toward mobile banking, while examining age as a moderator by comparing younger older adults (aged 60–69) and older adults (aged 70+). Using data from an online survey of 488 elderly mobile banking users in South Korea, we conducted hierarchical regression analyses. The results show that technology anxiety negatively affects continuance intention, whereas technology familiarity positively enhances sustained usage. Moreover, age significantly moderated these relationships: adults aged 70+ were notably more sensitive to both technology anxiety and familiarity, highlighting distinct age-related psychological differences. These findings underscore the importance of targeted digital literacy initiatives, age-friendly fintech interfaces, and personalized support strategies. This study contributes to the fintech literature by integrating psychological dimensions into traditional technology adoption frameworks and emphasizing age-specific differences. Practically, fintech providers and policymakers should adopt tailored strategies to effectively address elderly consumers’ unique psychological needs, promoting sustained adoption and narrowing the digital divide in financial technology engagement. Full article

The digital business environment is rapidly evolving with advancements in information technology (IT), increasing the risk of information security incidents. Grounded in the resource-based view and in contingency theory, this study adopts a different approach from prior research by conceptualizing security management activities not as mere risk control mechanisms, but as strategic innovation drivers that can enhance corporate performance (sales revenue and operating profit). The authors develop a research model with six independent variables, including internal and external security management activities, CISO role configuration (independent or dual-role with CIO), and investment levels in IT and information security. The dependent variables include sales revenue and operating profit, with ISMS or ISO certification as a moderating variable. Using information security (IS) disclosures and financial data from 545 Korean firms that have reported their security management activities to the Ministry of Science and ICT, multiple regression and moderation analyses reveal that high IT investment negatively impacts performance, but this effect is mitigated when formal security systems, like ISMS or ISO, are in place. The results suggest that integrating recognized security frameworks into management strategies can enhance both innovation and financial outcomes, encouraging a proactive approach to security management. Full article

Agricultural new quality productive forces (ANQPFs) signify the progressive trajectory of modern agriculture. However, their development encounters significant challenges in many nations. The digital economy, characterized by its strong innovative capacity, offers continuous impetus for advancing agricultural new quality productive forces (ANQPFs). Based on panel data from 30 Chinese provinces (2014–2023), this study employs a two-way fixed-effects model, mediation and threshold effect analyses, and a spatial Durbin model to comprehensively assess the influence of the digital economy (DE) on agricultural new quality productive forces (ANQPFs). The findings reveal that (1) the digital economy (DE) significantly enhances the advancement of agricultural new quality productive forces (ANQPFs); (2) while its positive effect is pronounced in eastern, central, and western China, the impact is weaker in the northeastern region; (3) rural financial development (RFD) acts as a mediator in the relationship between digital economy (DE) growth and agricultural new quality productive forces (ANQPFs); (4) the digital economy (DE)’s contribution to agricultural new quality productive forces (ANQPFs) demonstrates non-linear trends; and (5) spatially, while the digital economy (DE) boosts the local agricultural new quality productive forces (ANQPFs), it exerts a negative spillover effect on neighboring areas. This research offers fresh empirical insights into the determinants of agricultural new quality productive forces (ANQPFs) and suggests policy measures to support agricultural modernization. Full article

Amid rising climate concerns, understanding how renewable energy adoption, human capital, fossil fuel efficiency, and globalization collectively shape CO₂ emissions is crucial for unlocking pathways to a cleaner, resilient, and globally connected low-carbon future. Using China as a case study, this research investigates the drivers of CO₂ emissions, focusing on fossil fuel efficiency, renewable energy adoption, and globalization, utilizing quarterly data from 1984Q1 to 2023Q4. To ensure robust and nuanced insights, the study integrates advanced machine learning techniques alongside Quantile-on-Quantile Kernel Regularized Least Squares (QQ-KRLS) and a Modified Quantile Regression as robustness checks, capturing complex distributional dynamics often overlooked in conventional analyses. To the authors’ knowledge, this is the first empirical study examining such relationships for the case of China. The results reveal that globalization, fossil fuel efficiency, renewable energy, human capital, and financial risk all contribute to increasing CO₂ emissions. The study proposes precise policies based on the findings obtained. Full article

The main objective of this study is to analyse the relevance of financial performance as an accurate predictor of ESG scores for French companies from 2010 to 2022. To this end, Machine Learning techniques such as linear regression, polynomial regression, Random Forest, and Support Vector Regression (SVR) were employed to provide more accurate and reliable assessments, thus informing the ESG rating attribution process. The results obtained highlight the excellent performance of the Random Forest method in predicting ESG scores from company financial variables. In addition, the approach identified specific financial variables (operating income, market capitalisation, enterprise value, etc.) that act as powerful predictors of companies’ ESG scores. This modelling approach offers a robust tool for predicting companies’ ESG scores from financial data, which can be valuable for investors and decision-makers wishing to assess and understand the impact of financial variables on corporate sustainability. Also, this allows sustainability investors to diversify their portfolios by including companies that are not currently rated by ESG rating agencies, that do not produce sustainability reports, as well as newly listed companies. It also gives companies the opportunity to identify areas where improvements are needed to enhance their ESG performance. Finally, it facilitates access to ESG ratings for interested external stakeholders. Our study focuses on using advances in artificial intelligence, exploring machine learning techniques to develop a reliable predictive model of ESG scores, which is proving to be an original and promising area of research. Full article

The present study addresses the European option pricing problem based on the Black–Scholes (B-S) model using a hybrid analytical approach known as the Sawi homotopy perturbation transform scheme (SHPTS). We formulate fractional derivatives in the Caputo sense to effectively capture the memory effects inherent in financial models. The competency and reliability of the SHPTS are demonstrated through two illustrative examples. This method produces a closed-form series solution that converges to the precise solution. We perform convergence and visual analyses to demonstrate the competency and reliability of the proposed scheme. The numerical findings further reveal that the strategy is straightforward to apply and very successful in resolving the fractional form of the B-S problem. Full article

Accepting a certain degree of investment loss risk is essential for long-term portfolio management. However, overconfidence bias within financial literacy can prompt excessively risky behavior and amplify susceptibility to other cognitive biases. These tendencies can undermine investment loss tolerance beyond the baseline level shaped by sociodemographic, economic, psychological, and cultural factors. This study empirically examines the association between overconfidence and investment loss tolerance, which is measured by the point at which respondents indicate they would sell their investments in a hypothetical loss scenario. Using a large-scale dataset of 161,765 active investors from one of Japan’s largest online securities firms, we conduct ordered probit and ordered logit regression analyses, controlling for a range of sociodemographic, economic, and psychological variables. Our findings reveal that overconfidence is statistically significantly and negatively associated with investment loss tolerance, indicating that overconfident investors are more prone to prematurely liquidating assets during market downturns. This behavior reflects an impulse to avoid even modest losses. The findings suggest several possible practical strategies to mitigate the detrimental effects of overconfidence on long-term investment behavior. Full article

Background and Objectives: Orthodontic treatment aims to enhance dental aesthetics and function, yet many patients report dissatisfaction. This study was designed with the following objectives: To assess overall patient satisfaction during active orthodontic treatment; to identify key psychosocial and clinical predictors of satisfaction, including self-confidence, social experiences, and cost perception; to evaluate the impact of orthodontist–patient communication on satisfaction and perceived treatment outcomes; to explore the relationship between aesthetic improvement and willingness to undergo treatment again. Materials and Methods: A cross-sectional survey was conducted using structured questionnaires to assess satisfaction, pain perception, treatment expectations, and communication quality. Statistical analyses, including correlations and regression models, were used to identify predictors of satisfaction. The study included 450 orthodontic patients from the north-eastern region of Romania, undergoing active treatment at the time of data collection. Results: The strongest predictor of satisfaction was improved self-confidence and smile aesthetics (r = 0.62). Effective communication with orthodontists significantly increased satisfaction (r = 0.58, p = 0.002), while perceived high costs had a negative impact (r = −0.41). Pain and discomfort were common, with 90% of patients experiencing treatment-related pain, leading to reduced compliance. Social embarrassment due to braces also contributed to dissatisfaction (r = −0.47). Conclusions: Patient satisfaction with orthodontic treatment is primarily influenced by aesthetic improvements and effective communication. While enhanced smile perception boosts confidence, financial concerns and social discomfort may negatively affect the overall experience. Improving accessibility to treatment and providing comprehensive patient support are essential for optimizing patient satisfaction. Full article

Accurate and real-time classification of low-latency Internet traffic is critical for applications such as video conferencing, online gaming, financial trading, and autonomous systems, where millisecond-level delays can degrade user experience. Existing methods for low-latency traffic classification, reliant on raw temporal features or static statistical analyses, fail to capture dynamic frequency patterns inherent to real-time applications. These limitations hinder accurate resource allocation in heterogeneous networks. This paper proposes a novel framework integrating wavelet transform (WT) and artificial neural networks (ANNs) to address this gap. Unlike prior works, we systematically apply WT to commonly used temporal features—such as throughput, slope, ratio, and moving averages—transforming them into frequency-domain representations. This approach reveals hidden multi-scale patterns in low-latency traffic, akin to structured noise in signal processing, which traditional time-domain analyses often overlook. These wavelet-enhanced features train a multilayer perceptron (MLP) ANN, enabling dual-domain (time–frequency) analysis. We evaluate our approach on a dataset comprising FTP, video streaming, and low-latency traffic, including mixed scenarios with up to four concurrent traffic types. Experiments demonstrate 99.56% accuracy in distinguishing low-latency traffic (e.g., video conferencing) from FTP and streaming, outperforming k-NN, CNNs, and LSTMs. Notably, our method eliminates reliance on deep packet inspection (DPI), offering ISPs a privacy-preserving and scalable solution for prioritizing time-sensitive traffic. In mixed-traffic scenarios, the model achieves 74.2–92.8% accuracy, offering ISPs a scalable solution for prioritizing time-sensitive traffic without deep packet inspection. By bridging signal processing and deep learning, this work advances efficient bandwidth allocation and enables Internet Service Providers to prioritize time-sensitive flows without deep packet inspection, improving quality of service in heterogeneous network environments. Full article

Background: In Canada, despite universal healthcare coverage, dental care remains predominantly privately financed, creating financial barriers that prevent many from accessing essential services. This case study is part of a larger initiative, the One Smile Research program, which evaluates the impact of cost-free dental care on the oral health and overall well-being of individuals who have been unable to access dental services in the past two years due to financial constraints. Participants in the program receive necessary dental care and attend follow-up appointments to assess the long-term effects of continuous cost-free care. Clinical Case: This mixed-methods case report focuses on a 26-year-old male participant and integrates a qualitative semi-structured interview with clinical and self-reported data, providing an in-depth understanding of his experiences. Results: Clinical outcomes demonstrated the effectiveness of the provided dental treatments, while self-reported measures indicated improved oral health, satisfaction with dental appearance, enhanced psychosocial well-being, increased self-esteem, reduced dental anxiety, and better oral hygiene habits. The qualitative interview identified three key themes reflecting positive experiences with the program: ease of admission, staff kindness, and overall well-being improvement. The integration of both quantitative and qualitative analyses revealed significant advancements in both objective and subjective measures, particularly regarding overall well-being. Conclusions: The continuity of cost-free dental care effectively addressed the participant’s oral health and overall well-being, with most benefits sustained even at the two-year follow-up. These individual-level outcomes offer preliminary insight into the potential advantages of universal dental coverage within the Canadian healthcare system. Full article