Search Results (3,653)

This pilot study investigated an automated pilot plant for removing microplastics (MPs) from industrial wastewater that are generated during packaging production. MP removal is based on organosilane-induced agglomeration-fixation (clump & skim technology) followed by separation. The wastewater had high MP loads (1725 ± 377 mg/L; 673 ± 183 million particles/L) and an average COD of 7570 ± 1339 mg/L. Over 25 continuous test runs, the system achieved consistent performance, removing an average of 97.4% of MPs by mass and 99.1% by particle count, while reducing the COD by 78.8%. Projected over a year, this equates to preventing 1.7 tons of MPs and 6 tons of COD from entering the sewage system. Turbidity and photometric TSS measurements proved useful for process control. The approach supports water reuse—with water savings up to 80%—and allows recovery of agglomerates for recycling and reuse. Targeting pollutant removal upstream at the source provides multiple financial and environmental benefits, including lower overall energy demands, higher removal efficiencies, and process water reuse. This provides financial and environmental incentives for industries to implement sustainable solutions for pollutants and microplastic removal. Full article

Background/Objectives: Family caregivers of individuals with schizophrenia often face considerable psychological and physical strain due to the complexity of caregiving. Although psychoeducation has demonstrated benefits in alleviating this burden, its provision via telenursing remains underexplored in Saudi Arabia. This study evaluated the effect of a psychoeducational program delivered via telenursing on reducing caregiver burden. Methods: A quasi-experimental design was used with 60 caregivers from a tertiary mental health hospital in northern Saudi Arabia, who were divided equally into intervention and control groups. The intervention group participated in a structured four-week psychoeducational program via Zoom, while the control group received routine care. Caregiver burden was assessed using the Family Burden Interview Schedule (FBIS), a validated tool designed to measure the objective and subjective burden experienced by family members caring for individuals with mental illness. The FBIS was administered before and three months after the intervention. The statistical analysis included independent and paired t-tests and ANOVA. Results: The pre-intervention scores showed no significant differences, confirming baseline equivalence. The post-intervention scores showed a significant reduction in burden among the intervention group (p < 0.001), while no meaningful change occurred in the control group. Additionally, a lower burden was associated with higher education, sufficient income (i.e., the caregiver’s perception of being able to meet essential household expenses without financial strain), strong family support, and absence of caregiver illness. Conclusions: These findings suggest that psychoeducation through telenursing is an effective strategy for reducing caregiver burden and improving support accessibility, particularly for those in remote areas. Full article

Under the global context of climate governance and sustainable development, low-carbon energy transition has become a strategic imperative. As a critical force in resource allocation, the financial system’s impact on energy transition has attracted extensive academic attention. This paper presents the first comprehensive literature review on energy transition research in the context of financial development. We develop a “Financial Functions-Energy Transition Dynamics” analytical framework to comprehensively examine the theoretical and empirical evidence regarding the relationship between financial development (covering both traditional finance and emerging finance) and energy transition. The understanding of financial development’s impact on energy transition has progressed from linear to nonlinear perspectives. Early research identified a simple linear promoting effect, whereas current studies reveal distinctly nonlinear and multidimensional effects, dynamically driven by three fundamental factors: economy, technology, and resources. Emerging finance has become a crucial driver of transition through technological innovation, risk diversification, and improved capital allocation efficiency. Notable disagreements persist in the existing literature on conceptual frameworks, measurement approaches, and empirical findings. By synthesizing cutting-edge empirical evidence, we identify three critical future research directions: (1) dynamic coupling mechanisms, (2) heterogeneity of financial instruments, and (3) stage-dependent evolutionary pathways. Our study provides a theoretical foundation for understanding the complex finance-energy transition relationship and informs policy-making and interdisciplinary research. Full article

This study assesses the quality of financial reporting in ten Central and Eastern European countries using a methodology based on natural language processing (NLP) techniques. 570 annual reports of companies listed on the main index on the stock exchanges of 10 Central and Eastern European (CEE) countries, over the period 2019–2023, were evaluated to determine the degree of convergence of the following four measurable qualitative characteristics: relevance, exact representation, comparability and understandability. The main objective is to identify consistency in the quality of accounting information based on the application of an international financial reporting framework. The applied methodology eliminates subjective variability by implementing a standardized scoring system, aligned with the criteria developed by NiCE, using libraries such as spaCy and NLTK for term extraction, respective sentiment analysis and word frequency evaluation. The results reveal significant heterogeneity in all characteristics examined, with statistical tests confirming substantial differences between countries. The investigation of relevance revealed partial convergence, with three dimensions achieving complete uniformity, while the exact representation showed the highest variability. The assessment of comparability showed a significant difference between countries’ extreme values, and in terms of comprehensibility a formalistic approach was evident, with technical dimensions outweighing user-oriented aspects. The overall quality index varied significantly across countries, with a notable average deterioration in 2023, indicating structural vulnerabilities in financial reporting systems. These findings support initial hypotheses on the lack of homogeneity in the quality of financial reporting in the selected region, despite the implementation of international standards. Full article

This study investigates the role of Big Data Analytics Capabilities (BDACs) in ambidexterity explorative innovation (EXPLRI) and exploitative (EXPLOI) innovation for achieving a sustainable performance (SP) in the manufacturing sector of a resource-constrained developing economy. While a BDAC has been widely linked to innovation in developed economies, its effectiveness in developing contexts shaped by indigenous innovation practices like Jugaad remains underexplored. Anchored in the Resource-Based View (RBV) and Dynamic Capabilities (DC) theory, we propose a model where the BDAC enhances both EXPLRI and EXPLOI, which subsequently leads to an improved sustainable performance. We further examine the Jugaad capability as a cultural moderator. Using survey data from 418 manufacturing firms and analyzed via Partial Least Squares Structural Equation Modeling (PLS-SEM), results confirm that BDA capabilities significantly boost both types of innovations, which positively impact sustainable performance dimensions. Notably, Jugaad positively moderates the relationship between EXPLOI and financial, innovation, and operational performance but negatively moderates the link between EXPLRI and innovation performance. These findings highlight the nuanced influence of culturally embedded innovation practices in BDAC-driven ecosystems. This study contributes by extending the RBV–DC framework to include cultural innovation capabilities and empirically validating the contingent role of Jugaad in enhancing or constraining innovation outcomes. This study also validated the Jugaad capability measurement instrument for the first time in the context of Pakistan. For practitioners, aligning data analytics strategies with local innovative cultures is vital for sustainable growth in emerging markets. Full article

This paper measures the post-treatment effects of Central Bank Digital Currencies (CBDCs) on mobile money and outstanding loans from commercial banks as a percentage of the GDP in Nigeria and the Bahamas, respectively, from the perspective of financial inclusion. The literature on the topic has primarily focused on the technological specifications of CBDCs and their potential future implementation. This article addresses a gap in the empirical literature by examining the effects of CBDCs. To this end, a Synthetic Control Method (SCM) is applied to the Bahamas (SandDollar) and Nigeria (eNaira) to construct a counterfactual scenario and assess the impact of CBDCs on mobile money and commercial bank loans. Nigeria’s mobile money transactions as a percentage of the GDP increased significantly compared to the synthetic control group, suggesting a notable positive effect of the eNaira. Conversely, in the Bahamas, actual performance fell below the synthetic control, implying that SandDollar may have contributed to a decline in outstanding loans. These results suggest that CBDCs could pose a “deposit substitution risk” for commercial banks. However, they may also enhance the performance of other Fintech tools, as observed in the case of mobile money. As CBDC implementations worldwide remain in their early stages, their long-term effects require further analysis. Full article

Governments worldwide are mandating e-invoicing and real-time VAT reporting, yet many cash-intensive service SMEs continue to under-report VAT, eroding fiscal revenues. This study investigates whether financial technology (FinTech) adoption can reduce this under-reporting among tourism SMEs in Greece—an economy with high seasonal spending and a persistent shadow economy. This is the first micro-level empirical study to examine how FinTech tools affect VAT compliance in this sector, offering novel insights into how technology interacts with behavioral factors to influence fiscal behavior. Drawing on the Technology Acceptance Model, deterrence theory, and behavioral tax compliance frameworks, we surveyed 214 hotels, guesthouses, and tour operators across Greece’s main tourism regions. A structured questionnaire measured five constructs: FinTech adoption, VAT compliance behavior, tax morale, perceived audit probability, and financial performance. Using Partial Least Squares Structural Equation Modeling and bootstrapped moderation–mediation analysis, we find that FinTech adoption significantly improves declared VAT, with compliance fully mediating its impact on financial outcomes. The effect is especially strong among businesses led by owners with high tax morale or strong perceptions of audit risk. These findings suggest that FinTech tools function both as efficiency enablers and behavioral nudges. The results support targeted policy actions such as subsidies for e-invoicing, tax compliance training, and transparent audit communication. By integrating technological and psychological dimensions, the study contributes new evidence to the digital fiscal governance literature and offers a practical framework for narrowing the VAT gap in tourism-driven economies. Full article

The impact of cultural identity on music performance anxiety (MPA) is under-researched. This retrospective case study explores the treatment of a professional musician in her 30s who presented with MPA associated with performing music related to her estranged father’s cultural background. The case formulation identified attachment ruptures and negative cognitions associated with her mixed cultural heritage that contributed to an experience of imposterism—referred to in lay literature as ‘racial imposter syndrome’ (RIS). It was hypothesized that RIS served to perpetuate her MPA. An attachment-based approach and Acceptance and Commitment Therapy framework was adopted, drawing on evidence-based treatment for MPA and mixed heritage individuals. The Depression Anxiety Stress Scale-21 (DASS-21), Outcome Rating Scale (ORS) and Session Rating Scale (SRS) were used as outcome measures. These measures fluctuated throughout the therapy. While improvements were observed in depression scores midway through treatment, elevated stress and depression scores at the conclusion of treatment were understood to reflect situational factors related to financial and housing precarity. Nonetheless, at the conclusion of treatment, the client showed improvement in managing MPA, evidenced by her progress in recording an album and reengagement with public performances. This case study adds to the limited research on treating MPA in racially minoritized and mixed-race individuals, Further research is required across larger and more diverse samples to better understand the relationship between MPA and RIS and to develop effective interventions. Full article

Rural roads are critical for connecting isolated communities to essential services such as education and health and administrative services, as well as production and market opportunities in low-income countries. More than 70% of movements of people and goods in Sub-Saharan Africa are heavily reliant on rural transport systems, using both motorised but mainly alternative means of transport. However, rural roads often suffer from poor construction due to the use of low-strength, in situ soils and limited financial resources, leading to premature failures and subsequent traffic disruptions with significant economic losses. This study investigates the use of rice husk ash (RHA), a waste byproduct from rice production, as a sustainable supplement to Ordinary Portland Cement (OPC) for soil stabilisation in order to increase durability and sustainability of rural roads, hence limit recurrent maintenance needs and associated transport costs and challenges. To conduct this study, soil samples collected from Mulungushi, Zambia, were treated with combinations of 6–10% OPC and 10–15% RHA by weight. Laboratory tests measured maximum dry density (MDD), optimum moisture content (OMC), and California Bearing Ratio (CBR) values; the main parameters assessed to ensure the quality of road construction soils. Results showed that while the MDD did not change significantly and varied between 1505 kg/m³ and 1519 kg/m³, the OMC increased hugely from 19.6% to as high as 26.2% after treatment with RHA. The CBR value improved significantly, with the 8% OPC + 10% RHA mixture achieving the highest resistance to deformation. These results suggest that RHA can enhance the durability and sustainability of rural roads and hence improve transport systems and subsequently improve socioeconomic factors in rural areas. Full article

Promoting energy efficiency in the Italian production sector is significantly hampered by the lack of knowledge, the scarcity and the limited distribution of tools for supporting energy audits in small and medium-sized enterprises (SMEs) in a wide range of Italian economic sectors (industry, tertiary sector, transport). The Advanced Tool for ENErgy Audit for SMEs, ATENEA4SME, is intended to help SMEs promote energy-efficiency projects, supports energy audits and self-evaluation of energy consumption. The tool uses an original mathematical model that takes into account the results of questionnaires and a multi-criteria analysis to generate recommendations for energy efficiency investments. This article will give a thorough explanation of the tool, emphasizing and outlining the sections as well as the procedures to get the ultimate summary of the energy usage of the enterprises under investigation and the potential for energy saving. From a technological and financial perspective, the tool helps to remove obstacles to the development of energy-efficiency measures. In this article, the IT and methodological structure of the tool will therefore be extensively described, and its operation for the context of SMEs will be illustrated, with application cases. Ample space will be allocated to the dissemination campaign and the replicability of the tool for all economic sectors of the industrial and tertiary sectors. Full article

The ongoing degradation of global forests has severely weakened ecosystem service functions, and traditional judicial remedies have struggled to quantify intangible ecological losses. China has become an important testing ground for restorative justice through the establishment of specialized environmental courts and the practice of environmental public interest litigation. Since 2015, China has actively explored and institutionalized the application of the concept of restorative justice in its environmental justice reform. This concept emphasizes compensating environmental damages through actual ecological restoration acts rather than relying solely on financial compensation. This shift reflects a deep understanding of the limitations of traditional environmental justice and an institutional response to China’s ecological civilization construction, providing critical support for forest ecosystem restoration and enabling ecological restoration activities, such as replanting and re-greening, habitat reconstruction, etc., to be enforced through judicial decisions. This study conducts a qualitative analysis of judicial rulings in forest restoration cases to systematically evaluate the effectiveness of restorative justice in compensating for losses in forest ecosystem service functions. The findings reveal the following: (1) restoration measures in judicial practice are disconnected from the types of ecosystem services available; (2) non-market values and long-term cumulative damages are systematically underestimated, with monitoring mechanisms exhibiting fragmented implementation and insufficient effectiveness; (3) management cycles are set in violation of ecological restoration principles, and acceptance standards lack function-oriented indicators; (4) participation of key stakeholders is severely lacking, and local knowledge and professional expertise have not been integrated. In response, this study proposes a restorative judicial framework oriented toward forest ecosystem services, utilizing four mechanisms: independent recognition of legal interests, function-matched restoration, application of scientific assessment tools, and multi-stakeholder collaboration. This framework aims to drive a paradigm shift from formal restoration to substantive functional recovery, providing theoretical support and practical pathways for environmental judicial reform and global forest governance. Full article

This study explores how corporate governance reforms can enhance financial reporting quality and organizational transparency, focusing on Greece’s transition from Law 3016/2002 to Law 4706/2020. The legislative reform aimed to modernize governance structures, align national practices with international standards, and strengthen investor protection in a post-crisis economic environment. Moving beyond a simple legal comparison, the study examines how Law 3016/2002’s formal compliance model contrasts with Law 4706/2020’s more substantive accountability framework. We hypothesize that Law 4706/2020 introduces substantively stronger governance mechanisms than its predecessor, thereby improving transparency and investor protection, while compliance with the new law imposes materially greater administrative and financial burdens, especially on small- and mid-cap firms. Methodologically, the research employs a narrative literature review and a structured comparative legal analysis to assess the administrative and financial implications of the new law for publicly listed companies, focusing on board composition and diversity, internal controls, suitability policies, and disclosure requirements. Drawing on prior comparative evidence, we posit that Law 4706/2020 will foster governance and disclosure improvements, enhanced oversight, and clearer board roles. However, these measures also impose compliance burdens. Due to the heterogeneity of listed companies and the lack of firm-level data following Law 4706/2020’s implementation, the findings are neither fully generalizable nor quantifiable; future quantitative research using event studies or panel data is required to validate the hypotheses. We conclude that Greece’s new framework is a critical step toward sustainable corporate governance and more transparent financial reporting, offering regulators, practitioners, and scholars examining legal reform’s impact on governance effectiveness and financial reporting integrity. Full article

Water is essential for ecological balance, environmental sustainability, and food security, particularly in arid regions where effective water management increasingly depends on farmer cooperation. The Samarkand region of Uzbekistan, known for its favorable climate and leading role in grape production, is facing rising drought conditions. This study explores the factors influencing grape farmers’ willingness to collaborate on water management in the districts of Ishtikhan, Payarik, and Kushrabot, which together produce 75–80% of the region’s grapes. A quantitative survey of 384 grape-producing households was conducted across 19 county citizens’ gatherings (38.7% of such gatherings), and structural equation modeling was employed to analyze a framework consisting of four dimensions: norms, environmental concerns, economic barriers, and the intention to adopt sustainable practices. The results indicate that norms and environmental concerns positively influence collaboration, suggesting a collective orientation toward sustainability. In contrast, economic barriers such as high costs and limited financial capacity significantly hinder cooperative behavior. Furthermore, a strong individual intention to adopt sustainable practices was associated with a greater likelihood of collaboration. These findings highlight the critical drivers and constraints shaping collective water use in agriculture and suggest that targeted policy measures and community-led efforts are vital for promoting sustainable water governance in drought-prone regions. Full article

This study evaluates the risk-adjusted performance of Hospitality REITs using multi-factor asset pricing models and downside risk measures with the aim of assessing their diversification potential and crisis sensitivity. Unlike prior studies that examine REITs in aggregate, this study isolates Hospitality REITs to explore their unique cyclical and macroeconomic sensitivities. This study looks at the risk-adjusted performance of Hospitality Real Estate Investment Trusts (REITs) in relation to more general REIT indexes and the S&P 500 Index. The study reveals that monthly returns of Hospitality REITs increasingly move in tandem with the stock markets during financial crises, which reduces their historical function as portfolio diversifiers. Investing in Hospitality REITs exposes one to the hospitality sector; however, these investments carry notable risks and provide little protection, particularly during economic upheavals. Furthermore, the study reveals that Hospitality REITs underperform on a risk-adjusted basis relative to benchmark indexes. The monthly returns of REITs show significant volatility during the post-COVID-19 era, which causes return-to-risk ratios to be below those of benchmark indexes. Estimates from multi-factor models indicate negative alpha values across conditional models, indicating that macroeconomic variables cause unremunerated risks. This industry shows great sensitivity to market beta and size and value determinants. Hospitality REITs’ susceptibility comes from their showing the most possibility for exceptional losses across asset classes under Value at Risk (VaR) and Conditional Value at Risk (CvaR) downside risk assessments. The findings have implications for investors and portfolio managers, suggesting that Hospitality REITs may not offer consistent diversification benefits during downturns but can serve a tactical role in procyclical investment strategies. Full article

Forestry carbon sinks play a crucial role in mitigating climate change and protecting ecosystems, significantly contributing to the development of carbon trading systems. Remote sensing technology has become increasingly important for monitoring carbon sinks, as it allows for precise measurement of carbon storage and ecological changes, which are vital for forecasting carbon prices. Carbon prices fluctuate due to the interaction of various factors, exhibiting non-stationary characteristics and inherent uncertainties, making accurate predictions particularly challenging. To address these complexities, this study proposes a method for predicting carbon trading prices influenced by multiple factors. We introduce a Decomposition (DECOMP) module that separates carbon price data and its influencing factors into trend and cyclical components. To manage non-stationarity, we propose the KAN with Multi-Domain Diffusion (KAN-MD) module, which efficiently extracts relevant features. Furthermore, a Wave-MH attention module, based on wavelet transformation, is introduced to minimize interference from uncertainties, thereby enhancing the robustness of the model. Empirical research using data from the Hubei carbon trading market demonstrates that our model achieves superior predictive accuracy and resilience to fluctuations compared to other benchmark methods, with an MSE of 0.204% and an MAE of 0.0277. These results provide reliable support for pricing carbon financial derivatives and managing associated risks. Full article