Search Results (5,444)

This paper assesses how the adoption of the COBIT framework is associated with the financial stability of commercial banks in an emerging economy—Jordan. As banks rely increasingly on digital technology, the management of technological risk has become central to their soundness, raising the question of how IT governance is associated with bank-level risk. Using a panel of 12 listed Jordanian commercial banks over 2014–2023, we estimate the relationship between COBIT adoption and stability, measured by the natural logarithm of the Z-score, employing a random-effects panel model. We construct two original, text-based measures of COBIT engagement from banks’ annual reports: a disclosure-frequency count (COBITF) and a binary adoption indicator (COBITD). The results show that COBIT engagement is positively associated with bank stability, whereby a one-unit rise in disclosure frequency is associated with an increase in the Z-score of roughly 2.2%, and the association is robust to the inclusion of bank-specific and macroeconomic controls and to a two-stage least-squares (2SLS) treatment of endogeneity for COBITF. The findings are presented as conditional associations with a plausible governance channel. The study contributes replicable, longitudinal measures of IT-governance engagement for data-scarce emerging markets and offers empirical evidence that engagement with a specific IT-governance framework is positively associated with bank stability. Full article

The growing environmental crisis, particularly water pollution from detergents, necessitates a shift from reactive compliance to proactive eco-innovation, as current methods often fail to systematically resolve trade-offs between performance, safety, and ecology. This study develops and illustrates the application of the Evolutionary-Driven Design Framework (EDDF), an integrated methodology that combines PESTEL analysis, historical evolutionary pattern analysis, Quality Function Deployment (QFD) with a novel contradiction index, Theory of Inventive Problem Solving (TRIZ), and environmental assessment. The framework was applied to redesign a conventional laundry detergent with the objectives of zero phosphates, superior biodegradability (>85%), maintained efficacy, and controlled cost. The quantitative contradiction index matrix prioritized critical unsustainable parameters (e.g., EDTA, Cocamide DEA) for substitution over mere optimization. Through an iterative feedback loop, the process evolved from a biobased concentrate to an “enzymatic power tablet” (Concept B). This waterless, solid formulation uses sodium citrate as a biodegradable builder and an encapsulated multi-enzyme system, achieving an estimated >90% biodegradability and zero phosphates while meeting technical and economic targets. The EDDF provides a structured, anticipatory roadmap that transforms regulatory and market pressures into drivers of innovation, offering companies a promising method for designing sustainable products by proactively resolving contradictions and avoiding historical mistakes. Full article

Lithium carbonate is a cornerstone therapy for bipolar disorder, typically administered long-term, which necessitates strict control of elemental impurities beyond the quantification of the active ingredient. While previous studies focused on lithium concentration and dosing accuracy, this study characterized the unique inorganic signatures and evaluated the toxicological implications of reference, similar, and generic lithium carbonate formulations marketed in Brazil. Seven commercial brands were analyzed by inductively coupled plasma optical emission spectrometry (ICP OES). Elemental concentrations (mg/kg) ranged as follows: As (0.50–0.62), Pb (0.39–0.57), Se (0.80–1.01), Cr (detected in one similar formulation at 0.18), Fe (<LOD–0.86), Mg (8.10–14.65), K (1.18–4.2), Mn (0.072–0.40), and P (24.3–74.4), while Cd, Cu, and Zn were below detection limits. Statistical analysis (p < 0.05) demonstrated significant inter-manufacturer differences, indicating that pharmaceutical equivalence does not imply inorganic identity. Despite this variability, all formulations complied with ICH Q3D (R2), USP <232>, and Brazilian Pharmacopoeia limits. Under maintenance doses of 600–1200 mg/day, daily exposure remained well below Permitted Daily Exposure thresholds; the cumulative Hazard Index was <0.02, and Incremental Lifetime Cancer Risk (5.46 to 6.80 × 10⁻⁶) was within safe levels. These findings confirm that while distinct elemental signatures exist, the medications are toxicologically safe for chronic therapy. Full article

The adoption of healthier dietary behaviors has become a critical public health concern, particularly among young populations facing structural and economic constraints. Within this context, organic food consumption can be understood not only as a market choice but as a form of health-related behavior influenced by psychological factors. Drawing on the Theory of Planned Behavior, this study examines how health consciousness and core cognitive determinants shape dietary health behavior through their influence on behavioral intention and self-reported consumption patterns. A cross-sectional quantitative design was employed using data from 384 young consumers in an emerging market context (Ambato, Ecuador). The proposed model was tested using covariance-based structural equation modeling (CB-SEM). The findings indicate that perceived behavioral control is the strongest predictor of intention to engage in organic food consumption, followed by attitude and subjective norms. Health consciousness is positively associated with attitude and indirectly influences behavioral intention through this pathway. No significant relationship was found between perceived behavioral control and attitude. Behavioral intention shows a strong association with self-reported consumption behavior. These results highlight the central role of perceived feasibility in shaping health-related dietary behaviors in constrained contexts, where structural barriers may limit the translation of positive attitudes into action. The study contributes to the health psychology literature by providing context-sensitive evidence on how cognitive and motivational factors interact within the TPB framework to influence dietary behavior. Implications for promoting healthier consumption patterns emphasize the need to address both psychological drivers and structural constraints. Full article

Autonomous artificial intelligence (AI) systems increasingly participate in decision-making processes that affect individuals, markets, and public administration. Their growing autonomy complicates the attribution of legal responsibility, particularly within regulatory frameworks that were designed around identifiable human actors and relatively stable products. Although European Union instruments such as the GDPR, the AI Act, and the revised Product Liability Directive address specific dimensions of risk and compliance, they do not fully resolve how responsibility should be allocated across the lifecycle of complex AI systems. The difficulty does not lie so much in the absence of legal rules. Rather, it reflects the structural tension between traditional liability models and the distributed architecture of contemporary AI development and deployment. By examining how existing EU regulatory instruments interact, the paper identifies fragmentation in responsibility allocation that may weaken institutional accountability. It then proposes a tiered model of legal responsibility based on meaningful control at different stages of system design, deployment, and operational oversight. Rather than introducing new forms of legal personhood, the model seeks to clarify how existing doctrines can be interpreted and coordinated in order to maintain regulatory coherence and socially intelligible accountability in digitally mediated environments. The model allocates responsibility according to meaningful control within distributed systems, offering a structurally coherent alternative for EU governance. Full article

From the perspective of interactions between energy firm behavior and government intervention strategies, this study develops a contagion control model for energy firm debt default risk utilizing cellular automata and complex network theory. This research investigates the spatio-temporal evolution of risk transmission and evaluates the efficacy of various mitigation protocols through computational simulation. The research results indicate that: (1) An escalation in both the transmission likelihood and the rate of immunity decay significantly amplifies the propagation strength of debt default risks. Conversely, the stability of the energy firm network is bolstered as the probabilities of immunity and recovery increase. (2) The contagion intensity for debt default risk is positively correlated with market noise, the risk appetite of energy firms, and their corporate influence. It is negatively correlated with risk awareness, creditworthiness, regulatory intensity, and policy subsidies. Furthermore, it exhibits an inverted U-shaped relationship with investor sentiment. (3) Within the interconnected network of energy firms, risk contagion can be effectively mitigated not only by enhancing risk perception and credit standing but also by guiding risk preference and managing firm influence. Furthermore, the integration and adjustment of government intervention strategies, such as regulatory intensity and policy subsidies, can more efficiently accelerate the eradication of debt default risk among energy firms. Full article

Grid-scale battery energy storage systems (BESSs) are becoming central flexibility assets in electricity systems with rising renewable penetration, changing demand profiles, and increasing system security requirements. This review examines BESS development in Australia, Singapore, China, and New Zealand, comparing strategic policy drivers, market access arrangements, revenue mechanisms, bankability conditions, support instruments, regulatory frameworks, and key deployment risks. Across all four jurisdictions, BESSs are moving from demonstration assets to core infrastructure for renewable integration, frequency control, reserve provision, congestion management, and short-duration energy shifting. The comparison shows that no single business model dominates. Australia relies heavily on volatile wholesale arbitrage, ancillary services, and government underwriting; Singapore emphasises grid resilience, dispatch precision, safety, and space-efficient deployment; China combines national strategic direction with province-specific market implementation; and New Zealand is developing a market-led, location-specific storage model within a high-renewables, hydro-dominated system. The review finds that bankable BESS deployment depends on revenue stacking, fit-for-purpose market rules, clear bidirectional asset classification, robust grid-connection processes, lifecycle safety management, and credible degradation and augmentation strategies. It concludes that BESSs are essential but not sufficient for deep decarbonisation, since long-duration flexibility and wider system reform remain necessary. Full article

Secure data collaboration among mutually distrustful organizations requires more than encrypted storage: it also needs accountable ownership control, auditable access governance, privacy-preserving transaction execution, and reliable settlement when data are exchanged as digital assets. This paper proposes TrustTrade, a unified multi-party secure data management and transaction framework designed for cross-organization data sharing, trading, and compliance-sensitive analytics. TrustTrade integrates policy-bound data capsules, a tamper-evident provenance ledger, adaptive threshold escrow, verifiable data-payment settlement, and selective audit with revocation rebinding. On four real-dataset-derived workloads, TrustTrade reaches a $90.4$–$94.8\%$ settlement rate, with a $92.5\%$ average that is $6.4$ percentage points higher than the strongest baseline average. Under adversarial request injection, TrustTrade reduces unauthorized release to $0.31\%$ and atomicity violation to $0.38\%$, corresponding to $93.6\%$ and $93.0\%$ reductions compared with Plain-Market, respectively; compared with Fixed-Escrow, unauthorized release is reduced by $77.4\%$. TrustTrade also achieves $96.7\%$ dispute-resolution accuracy while maintaining practical settlement latency. These results indicate that jointly designing secure data management and secure data transaction protocols offers a practical path toward trustworthy multi-party data ecosystems. Full article

China recently became the 155th country to provide free vaccination to all 13-year-old girls with two doses of a domestic bivalent HPV vaccine in October 2025. Such a policy change aligns with the Immunization Agenda 2030, which expects more investment of domestic resources into immunization rather than heavily depending on external donor funding support. This review examines the policy-making evolution process and analyzes how the final decision was made at the national level, using the Multiple Streams Framework. Unlike traditional NIP expansion, which adopts a top-down decision-making strategy, China’s free HPV vaccination policy evolved with a distinct bottom-up strategy originating from local pilots, which is demonstrated to be instrumental for national policy-making. The extensive local pilots of free HPV vaccination have served as a powerful engine that drives a rapid and substantial increase in HPV vaccination rate, played a pivotal role in shaping the market of HPV vaccines, and contributed to achieving the economies of scale, which triggered a substantial price reduction. It also fostered a national consensus on the critical role of HPV vaccination in cervical cancer prevention and control, a principle now enshrined in the core public health knowledge repository across the country. A potential strategy to introduce new vaccines into the NIP could be piloting first and expanding incrementally with the bottom-up strategy, leveraging a comprehensive platform under the framework of the national policy, and then making use of the effect of scale and peer pressure, high level engagement, cross-departmental collaboration, and multiple financing mechanisms. Full article

Using data from the 41 companies listed on the Borsa Istanbul Sustainability Index between 2020 and 2024, this study examines the relationship between board characteristics, concentrated ownership structure, shareholder activism and sustainability transparency. Reports published on a voluntary basis were subjected to content analysis based on criteria selected from the Global Reporting Initiative (GRI) standards, and a sustainability disclosure score was calculated. The relationship between board characteristics, concentrated ownership structure, shareholder activism, financial metrics identified as control variables, and sustainability scores was evaluated via robust random effects (static) and System Generalized Method of Moments (System GMM) (dynamic) panel data estimators. According to the static estimation results, board meeting frequency and the ratio of female members serve as positive drivers for sustainability transparency. In the dynamic model estimates, these governance mechanisms lose their explanatory power and show no statistically observable effect. However, across both methodological approaches, firm size, which was integrated as a control factor, consistently demonstrates a robust positive correlation with levels of disclosure. These findings reveal that governance mechanisms such as the percentage of female members and meeting frequency have a short-term and marginal effect, but structural factors such as company size are the main determinants for a long-term and sustainable level of transparency in Türkiye. Consequently, market regulators should deploy policy frameworks that incentivize disclosure trajectories aligned with international frameworks while fostering voluntary reporting. Concurrently, corporate managers should look beyond mere statutory compliance and continuously embrace extensive global reporting standards. Full article

Sovereign credit ratings are central to a country’s access to international capital markets, yet the relative informational content of debt service obligations versus aggregate debt stock for rating outcomes remains empirically unsettled. This systematic review synthesises econometric evidence on both measures across 23 primary studies published between 1996 and 2024. The central message of this paper is that debt service indicators—capturing near-term liquidity and refinancing pressure—are at least as informative as, and on average more informative than, debt stock ratios for sovereign credit assessments, particularly in emerging-market contexts and ordered-response specifications. This finding holds across heterogeneous study designs and is confirmed by meta-regression analysis, which shows that debt service effects are significantly more negative than debt stock effects (β = −0.09, p = 0.004) after controlling for sample composition, model family, and rating agency. Emerging-market samples and ordered-response estimators yield stronger associations than advanced-economy samples and linear (OLS) specifications. No consistent differences across the major rating agencies are found once study-design moderators are included. Because primary studies differ in model families, samples, and variable construction, we emphasise transparent reporting, avoid over-interpreting pooled magnitudes, and focus on robust qualitative patterns and moderator-based explanations of heterogeneity. The findings contribute to the literature on sovereign rating determinants and have practical implications for fiscal monitoring, suggesting that debt management aimed at improving near-term servicing capacity matters for credit assessments in ways that are not fully captured by stock-based fiscal anchors. Full article

Watermelons account for 7% of the world’s fruit vegetable production. In the European market, Spain contributes around 35% of total watermelon supply, with the majority grown in greenhouses in Almería, Southern Spain. This study presents experimental results from the first agrivoltaic watermelon trial conducted in a raspa-y-amagado greenhouse during the 2024 growing season in Almería, Spain. Watermelons were cultivated under two shading treatments with 30% and 50% of the roof area covered with PV modules and compared against an unshaded control group. Throughout the experiment, temperature values in the 30% and 50% zones were $2.2$${}^{\circ }\mathrm{C}$ and $4.3$${}^{\circ }\mathrm{C}$ lower than in the control zone, respectively. The unshaded control zone and the 30% shading treatment maintained DLI conditions within the optimal range between 21/$\mathrm{m}$/day and 32/$\mathrm{m}$/day for most of the crop cycle, while the 50% shading zone remained largely above the minimum threshold of 15/$\mathrm{m}$/day required for adequate crop growth. No statistically significant differences were observed in fruit weight, rind width, fruit firmness, or soluble solids content at harvest. In addition, the experimentally measured irradiance data from this study were compared with simulations from a previously established irradiance model. The model was applied to the raspa-y-amagado greenhouse, and the experimental data were used to perform a long-term comparison between simulated and measured irradiance for 265 days of data. The irradiance model accurately reproduced shading effects from both the PV modules and greenhouse structure, achieving nRMSE values of 0.09, 0.18, and 0.27 for the control, 30% shading, and 50% shading zones, respectively. Full article

Green bonds have become an important financial instrument for supporting environmental investment and industrial transformation. This paper examines short-term profitability dynamics around first green bond issuance among heavy-polluting firms listed on China’s A-share market. Using a staggered-adoption framework based on the group-time average treatment effect estimator of Callaway and Sant’Anna we compare issuing firms after issuance with never-issuing and not-yet-issuing firms while controlling for firm characteristics, firm fixed effects, and year fixed effects. The estimates show that issuing firms experience an average post-issuance ROE decline of approximately 4.9 percentage points during the four years following issuance. Given that the average ROE in the sample is 0.0702, this estimate is economically substantial. Because green bond issuance is a voluntary corporate financing decision rather than an externally assigned policy shock, the estimates are interpreted as treatment-on-the-treated effects under the assumptions of no anticipation, overlap, and conditional parallel trends. Additional diagnostics and a DuPont-style mechanism analysis suggest that the post-issuance ROE decline is mainly associated with lower net profit margins and, to a lesser extent, lower asset turnover. Heterogeneity analyses indicate that the post-issuance profitability pressure varies across ownership types, regions, and industries. Full article

The quarantine pathogen Phytophthora ramorum has a high potential for dispersal due to its airborne inoculum, its wide range of hosts, and its ability to spread through the trade of nursery plants. For these reasons, it represents a serious threat to ornamental nursery production and, consequently, to urban, natural and semi-natural ecosystems. This oomycete pathogen (EU1 lineage, A1 mating type) has been detected on Viburnum tinus in a commercial nursery located in the Pistoia nursery district (PND) (Tuscany, central Italy), one of the main nursery areas for the production of ornamentals in Europe. Artificial inoculations were carried out in the laboratory under controlled conditions, following a standard detached-leaf assay protocol, on leaves of 16 ornamental shrub species commonly marketed by the PND. Disease severity was assessed, and susceptibility categories (high, moderate, low, and non-susceptible) were defined based on data collected at 7 and 14 days post-inoculation and validated through statistical analysis. Inoculated species exhibited variable levels of disease severity. The results confirmed the pathogen’s high virulence on Viburnum tinus and Rhododendron hybrid ‘Madame Masson’. The following species were also found to be highly susceptible: Ilex aquifolium, Loropetalum chinense, Magnolia stellata, Osmanthus fragrans, and Trachelospermum jasminoides. Camellia japonica, Nerium oleander, Osmanthus heterophyllus, Prunus laurocerasus, and Rhododendron obtusum showed moderate susceptibility. Arbutus unedo, Laurus nobilis, Photinia fraseri and Syringa vulgaris exhibited low susceptibility. At the end of the trial, no infected species fell into the non-susceptible categories. The oomycete proved particularly aggressive on Ilex aquifolium, the most susceptible host among those tested. This high susceptibility is a new finding that could have significant epidemiological implications. Our findings emphasize the need for rigorous phytosanitary surveillance in nursery systems, based on constant monitoring and the adoption of high-throughput diagnostic protocols, in order to implement effective and rapid control measures. Full article

The voluntary carbon market (VCM) has emerged as a promising mechanism for climate mitigation; however, farmer participation in developing countries remains limited. This study combines the Theory of Planned Behavior (TPB) and the Capability–Opportunity–Motivation–Behavior (COM-B) framework to investigate factors associated with Thai farmers’ intention and self-reported stage of participation in VCM. Data were collected through face-to-face interviews with 240 farmers across multiple crop systems in Thailand and analyzed using Partial Least Squares Structural Equation Modeling (PLS-SEM). The model explained substantial variance in intention and behavior (R² = 0.610 and 0.555, respectively), although PLS-Predict indicated limited predictive performance. Perceived behavioral control (PBC) showed the strongest positive association with reported participation behavior (β = 0.493, p < 0.001), followed by intention (β = 0.343, p < 0.001). Access to extension and technical support (AES) was positively associated with intention (β = 0.624, p < 0.001) and PBC (β = 0.338, p < 0.001). Knowledge was positively associated with PBC (β = 0.324, p < 0.001) but negatively associated with intention (β = −0.106, p = 0.045). No significant association was observed between attitude and intention; however, subjective norms were negatively associated with intention (β = −0.336, p < 0.001). Indirect associations through intention and PBC were also observed. Overall, the findings suggest that capability-, opportunity-, and trust-related factors are associated with farmers’ reported participation in VCM and may inform the design of future policies and support programs. Although the model demonstrated useful explanatory capability, its predictive performance was limited, indicating that the findings should be interpreted primarily as explanatory rather than predictive. Full article