Search Results (5,988)

Industrial tree plantations (ITPs) are increasingly recognized as a sustainable response to deforestation and the decline in native wood resources in the Philippines. This study presents LUNTIAN (Labor, UNiversity, Timber Investment, and Agent-based Nexus), an agent-based model that simulates an experimental ITP operation within a mountain forest managed by University of the Philippines Los Baños. The model integrates biophysical processes—such as tree growth, hydrology, and stand dynamics—with socio-economic components such as investment decision making based on risk preferences, employment allocation influenced by local labor availability, and informal harvesting behavior driven by job scarcity. These are complemented by institutional enforcement mechanisms such as forest patrolling, reflecting the complex interplay between financial incentives and rule compliance. To assess the model’s validity, its outputs were compared to those of the 3PG forest growth model, with results demonstrating alignment in growth trends and spatial distributions, thereby supporting LUNTIAN’s potential to represent key ecological dynamics. Sensitivity analysis identified investor earnings share and community member count as significant factors influencing net earnings and management costs. Parameter calibration using the Non-dominated Sorting Genetic Algorithm yielded an optimal configuration that ensured profitability for resource managers, investors, and community-hired laborers while minimizing unauthorized independent harvesting. Notably, even with continuous harvesting during a 17-year rotation, the final tree population increased by 55%. These findings illustrate the potential of LUNTIAN to support the exploration of sustainable ITP management strategies in the Philippines by offering a robust framework for analyzing complex social–ecological interactions. Full article

This study examines the impact of personal remittances on housing prices in European Union (EU) countries, while also accounting for a broader set of macroeconomic, demographic, and structural variables. Using annual data for 27 EU countries from 2007 to 2022, we employ a comprehensive panel econometric approach, including cross-sectional dependence tests, second-generation unit root tests, pooled mean group–autoregressive distributed lag (PMG-ARDL) estimation, and panel causality tests, to capture both short- and long-term dynamics. Our findings confirm that remittances significantly and positively influence long-term housing price levels, underscoring their relevance as a demand-side driver. Other key variables such as net migration, GDP, travel credit to GDP, economic freedom, and real effective exchange rates also contribute to housing price movements, while supply-side indicators, including production in construction and building permits, exert moderating effects. Moreover, real interest rates are shown to have a significant long-term negative effect on property prices. The analysis reveals key causal links from remittances, FDI, and net migration to housing prices, highlighting their structural and predictive roles. Bidirectional causality between economic freedom, housing output, and prices indicates reinforcing feedback effects. These findings position remittances as both a development tool and a key indicator of real estate dynamics. The study highlights complex interactions between international financial flows, demographic pressures, and domestic economic conditions and the need for policymakers to consider remittances and migrant investments in real estate strategies. These findings offer important implications for policymakers seeking to balance housing affordability, investment, and economic resilience in the EU context and key insights into the complexity of economic factors and real estate prices. Importantly, the analysis identifies several causal relationships, notably from remittances, FDI, and net migration toward housing prices, underscoring their predictive and structural importance. Bidirectional causality between economic freedom and house prices, as well as between housing output and pricing, reflects feedback mechanisms that further reinforce market dynamics. These results position remittances not only as a developmental instrument but also as a key signal for real estate market performance in recipient economies. Full article

In recent years, solar energy has emerged as one of the most advanced renewable energy sources, with its production capacity steadily growing. To maximize output and efficiency, choosing the right configuration for a specific location for these installations is crucial. This study uniquely integrates detailed multi-variant fixed-tilt PV system simulations with comprehensive economic evaluation under temperate climate conditions, addressing site-specific spatial constraints and grid integration considerations that have rarely been combined in previous works. In this paper, an energy and economic efficiency analysis for a photovoltaic power plant, located in central Poland, designed in eight variants (10°, 15°, 20°, 25°, 30° PV module inclination angle for a south orientation and 10°, 20°, 30° for an east–west orientation) for a limited building area of approximately 300,000 m² was conducted. In PVSyst computer simulations, PVGIS-SARAH2 solar radiation data were used together with the most common data for describing the Polish local solar climate, called Typical Meteorological Year data (TMY). The most energy-efficient variants were found to be 20° S and 30° S, configurations with the highest surface production coefficient (249.49 and 272.68 kWh/m²) and unit production efficiency values (1123 and 1132 kWh/kW, respectively). These findings highlight potential efficiency gains of up to approximately 9% in surface production coefficient and financial returns exceeding 450% ROI, demonstrating significant economic benefits. In economic terms, the 15° S variant achieved the highest values of financial parameters, such as the return on investment (ROI) (453.2%), the value of the average annual share of profits in total revenues (56.93%), the shortest expected payback period (8.7 years), the value of the levelized cost of energy production (LCOE) (0.1 EUR/kWh), and one of the lowest costs of building 1 MWp of a photovoltaic farm (664,272.7 EUR/MWp). Among the tested variants of photovoltaic farms with an east–west geographical orientation, the most advantageous choice is the 10° EW arrangement. The results provide valuable insights for policymakers and investors aiming to optimize photovoltaic deployment in temperate climates, supporting the broader transition to renewable energy and alignment with national energy policy goals. Full article

Digital transformation (DT) has emerged as a key strategic lever for enhancing firm resilience and competitiveness, yet its influence on non-productive investment behaviors, such as corporate financial investment, remains underexplored. Existing studies have largely focused on DT’s role in innovation and operational efficiency, leaving a significant gap in understanding how DT reshapes firms’ financial asset allocation. Drawing on a unique panel dataset of A-share main board-listed firms in China from 2011 to 2023, this study provides novel empirical evidence that DT significantly restrains financial investment, with pronounced heterogeneity across ownership types. More importantly, this paper uncovers a multi-layered mechanism: DT enhances the corporate information environment, which subsequently reduces financial investment. In addition, the analysis reveals a moderated mediation mechanism wherein economic uncertainty dampens the information-enhancing effect of DT. Unlike previous research that treats corporate risk-taking as a parallel mediator, this study identifies a sequential mediation pathway, where improved information environments suppress financial investment indirectly by influencing firms’ risk-taking behavior. These findings offer new theoretical insights into the financial implications of DT and contribute to the broader understanding of enterprise behavior in the context of digitalization and economic volatility. Full article

Background/Objectives: The COVID-19 pandemic caused pronounced disorder in healthcare delivery globally, including ophthalmology. Our study explores how ophthalmologists in Puerto Rico (PR) altered their practices during the pandemic, confronting obstacles such as resource shortages, evolving public health mandates, and unique socio-economic and geographic constraints. The study aims to enhance preparedness for future public health crises. Methods: We conducted descriptive analyses on four online surveys distributed at crucial time points of the pandemic (March 2020, May 2020, August 2020, August 2021) to all practicing ophthalmologists in PR (N ≈ 200), capturing data on closures, patient volume, personal protective equipment (PPE) access, telemedicine use, and financial relief. Results: Survey responses ranged from 41% (n = 81) to 56% (n = 111). By March 2020, 22% (24/111) of respondents closed their offices. By May 2020, 20% (19/93) of respondents maintained a closed office, while 89% (64/72) of open offices reported seeing less than 25% of their usual patient volume. Access to PPE was a challenge, with 59% (65/111) reporting difficulty obtaining N95 masks in March 2020. Telemedicine usage increased initially, peaking in May 2020 and declining in July 2020. By August 2021, all respondents were fully vaccinated and most practices returned to pre-pandemic levels. Overall, 86% (70/81) of respondents found the surveys to be useful for navigating practice changes during the pandemic. Conclusions: PR ophthalmologists showed adaptability during the COVID-19 pandemic to maintain care given limited resources. Guidelines from professional organizations and real time surveys play an important role in future crisis preparedness. Full article

This study explores whether sustainability achievements—proxied through ESG (environmental, social, and governance) reporting—are associated with superior financial performance in Latvia’s manufacturing sector, where ESG maturity remains low and institutional readiness is still emerging. Building on stakeholder, legitimacy, signal, slack resources, and agency theories, this study applies a mixed-method approach (that consists of two analytical stages) suited to the limited availability and reliability of ESG-related data in the Latvian manufacturing sector. Financial indicators from three large firms—AS MADARA COSMETICS, AS Latvijas Finieris, and AS Valmiera Glass Grupa—are compared with industry averages over the 2019–2023 period using independent sample T-tests. ESG integration is evaluated through a six-stage conceptual schema ranging from symbolic compliance to performance-driven sustainability. The results show that AS MADARA COSMETICS, which demonstrates advanced ESG integration aligned with international standards, significantly outperforms its industry in all profitability metrics. In contrast, the other two companies remain at earlier ESG maturity stages and show weaker financial performance, with sustainability disclosures limited to general statements and outdated indicators. These findings support the synergy hypothesis in contexts where sustainability is internalized and operationalized, while also highlighting structural constraints—such as resource scarcity and fragmented data—that may limit ESG-financial alignment in post-transition economies. This study offers practical guidance for firms seeking competitive advantage through strategic ESG integration and recommends policy actions to enhance ESG transparency and performance in Latvia, including performance-based reporting mandates, ESG data infrastructure, and regulatory alignment with EU directives. These insights contribute to the growing empirical literature on ESG effectiveness under constrained institutional and economic conditions. Full article

In this study, we investigate the return propagation mechanism, hedging effectiveness, and portfolio performance across several common agricultural commodities, crude oil, and S&P 500 index, ranging from July 2000 to June 2024 by using a time-varying parameter vector autoregression (TVP-VAR) connectedness approach and three common multiple assets portfolio optimization strategies. The empirical results show that, the total connectedness peaked during the 2008 global financial crisis, followed by the European debt crisis and the COVID-19 pandemic, while it remained relatively lower at the onset of the Russia-Ukraine conflict. In the transmission mechanism, commodities and S&P 500 index exhibit distinct and dynamic characteristics as transmitters or receivers. Portfolio analysis reveals that, with exception of the COVID-19 pandemic, all three dynamic portfolios outperform the S&P 500 benchmark across major global crises. Additionally, the minimum correlation and minimum connectedness strategies are superior than transitional minimum variance method in most scenarios. Our findings have implications for policymakers in preventing systemic risk, for investors in managing portfolio risk, and for farmers and agribusiness enterprises in enhancing economic benefits. Full article

Sustainable investments in construction are essential for the development of communities and for reducing environmental impacts. This study analyzes two scenarios: rehabilitation of an existing building and construction of a new NZEB-compliant building, based on a life cycle cost–benefit analysis. The results show that both scenarios generate negative Net Present Values (NPVs) due to the social nature of the project, but the new NZEB building presents superior performance (NPV: USD –2.61 million vs. USD –3.05 million for rehabilitation) and lower operational costs (USD 1.49 million vs. USD 1.92 million over 30 years). Key financial indicators (IRR, CBR), sensitivity analysis, and discount rate variation support the conclusion that the NZEB scenario ensures greater economic resilience. This study highlights the relevance of extended LCCBA in guiding sustainable investment decisions in social infrastructure. Full article

This study explores the role of solidarity finance in promoting local development and the empowerment of marginalized communities through financial inclusion and access to community credits. It focuses on how solidarity-based financial mechanisms provide accessible credit with fewer barriers, fostering productive activities and economic resilience. This study employed a quantitative and exploratory design, analyzing data from 51 community funds in Ecuador out of a total of 220 through a self-administered online survey, validated by auditing professionals and answered by community representatives. The 25-item questionnaire gathered data on organizational dynamics, financial practices, and perceptions of sustainability. Descriptive analysis was complemented with an analysis of variance to test hypotheses concerning associativity, self-management, and organizational performance. The results show that while associativity, self-management, and organizational management are perceived as institutional strengths, aspects such as autonomy and solidarity received lower evaluations, suggesting critical areas for strategic improvement. Notably, significant differences emerged between self-management–organization and solidarity–organization groups, emphasizing the importance of associativity (collaboration) in enhancing the sustainability of solidarity finance, which proves to be a vital mechanism for community empowerment and local development; however, its long-term sustainability depends on strengthening internal dimensions, particularly autonomy and solidarity, and reinforcing associativity as a core driver of organizational resilience. Full article

In recent years, growing concerns over environmental degradation and deepening awareness of the necessity of sustainable development have propelled green and low-carbon energy transition into a focal issue for both academia and policymakers. By decomposing energy transition into the transformation of energy structure and the upgrading of energy efficiency, this study investigates the impact and mechanisms of green finance on energy transition across 30 provinces (municipalities and autonomous regions) in China, with the exception of Tibet. In addition, the impact of climate change is incorporated into the analytical framework. Empirical results demonstrate that green finance development significantly accelerates energy transition, a conclusion robust to rigorous validation. Analysis of the mechanism shows that green finance promotes energy transition through the facilitation of technological innovation and the upgrade of industrial structures. Moreover, empirical evidence reveals that climate change undermines the promotional influence of sustainable finance on energy system transformation. The magnitude of this suppression varies nonlinearly across provincial jurisdictions with differing energy transition progress. Regional heterogeneity analyses further uncover marked discrepancies in climate–finance interactions, demonstrating amplified effects in coastal economic hubs, underdeveloped western provinces, and regions with mature eco-financial markets. According to these findings, actionable policy suggestions are put forward to strengthen green finance and accelerate energy transition. Full article

Unemployment and weak economic productivity are significant global issues, particularly in West Africa. Recently, through diverse mechanisms, remittances and foreign direct investment (FDI) have been sources of foreign capital flow that have positively influenced many less developed economies, including ECOWAS (ECOWAS stands for Economic Community of West African States). Nevertheless, these financial flows have exhibited significant inconsistencies, primarily resulting from economic downturns in migrants’ destination countries, with remarkable implications for beneficiary economies. This study, therefore, examines the effect of remittances and FDI on employment in ECOWAS. Specifically, the study assesses the effects of the inflow of remittances and FDI on employment using panel dynamic ordinary least squares (PDOLS) and also investigates the shock effects of remittances and FDI by employing Panel Vector Error Correction (PVECM), which involves variance decomposition. The results show that foreign direct investment (FDI) positively and significantly affects employment. Other variables that show a significant relationship with employment are wage rate, education expenditure, and interest rate. The variance decomposition result revealed that external shocks on remittances and FDI have short- and long-term effects on employment. The above findings imply that foreign direct investment has a far-reaching positive impact on the economy-wide management of the West African sub-region and thus calls for relevant policy options. Full article

Using waste biomass as a raw material for the combined production of electricity and heat offers corresponding energy, economic, environmental and resource efficiency benefits. The study examines both the performance of a system for combined energy production based on the Organic Rankine Cycle (ORC) utilizing wood biomass and the market interest in its deployment within Bulgaria. Its objective is to propose a technically and economically viable solution for the recovery of waste biomass through the combined production of electricity and heat while simultaneously assessing the readiness of industrial and municipal sectors to adopt such systems. The cogeneration plant incorporates an ORC module enhanced with three additional economizers that capture residual heat from flue gases. Operating on 2 t/h of biomass, the system delivers 1156 kW of electric power and 3660 kW of thermal energy, recovering an additional 2664 kW of heat. The overall energy efficiency reaches 85%, with projected annual revenues exceeding EUR 600,000 and a reduction in carbon dioxide emissions of over 5800 t/yr. These indicators can be achieved through optimal installation and operation. When operating at a reduced load, however, the specific fuel consumption increases and the overall efficiency of the installation decreases. The marketing survey results indicate that 75% of respondents express interest in adopting such technologies, contingent upon the availability of financial incentives. The strongest demand is observed for systems with capacities up to 1000 kW. However, significant barriers remain, including high initial investment costs and uneven access to raw materials. The findings confirm that the developed system offers a technologically robust, environmentally efficient and market-relevant solution, aligned with the goals of energy independence, sustainability and the transition to a low-carbon economy. Full article

Ujimqin sheep, known for its distinctive multi-vertebrae phenotypes (T13L7, T14L6, and T14L7) and economic value, has garnered significant attention. However, conventional phenotypic detection methods suffer from low efficiency and high costs. In this study, based on a key SNP locus (ABCD4 gene, Chr7:89393414, C > T) identified through a genome-wide association study (GWAS), a TaqMan-MGB (minor groove binder) genotyping system was developed. the objective was to establish a high-throughput and efficient molecular marker-assisted selection (MAS) tool. Specific primers and dual fluorescent probes were designed to optimize the reaction system. Standard plasmids were adopted to validate genotyping accuracy. A total of 152 Ujimqin sheep were subjected to TaqMan-MGB genotyping, digital radiography (DR) imaging, and Sanger sequencing. the results showed complete concordance between TaqMan-MGB and Sanger sequencing, with an overall agreement rate of 83.6% with DR imaging. For individuals with T/T genotypes (127/139), the detection accuracy reached 91.4%. This method demonstrated high specificity, simplicity, and cost-efficiency, significantly reducing the time and financial burden associated with traditional imaging-based approaches. the findings indicate that the TaqMan-MGB technique can accurately identify the T/T genotype at the SNP site and its strong association with the multi-vertebrae phenotypes, offering an effective and reliable tool for molecular breeding of Ujimqin sheep. Full article

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