Search Results (95)

This study investigates the transition to the circular economy (CE) model and its increasing application in industrial companies. The research context is the textile district of Prato, Tuscany region, that relies on a long historical tradition of CE application. Some industrial companies have been contacted, and their Administrators and CEOs have been interviewed, focusing on their understanding of the role of circular start-ups (CSUs) in the collaboration and relationships with large companies. The results show that this collaboration started for commercial purposes, since the companies interviewed in this study are producers of recycled yarns used by their customers, including CSUs, for the manufacturing of their garments. Over time, the collaboration further advanced, adding new types of interactions, characterized by environmentally and socially positive outcomes. This study shows that the collaboration between the small CSU Rifò and two of the largest companies of the Prato district as well as the outcomes in terms of environmental, energy and social benefits well extend over the micro, meso and macro levels of the CE model and reveal that the circular and sustainability performances of the selected CSU and its large partners are aligned with the goals of the district and the city of Prato towards consolidating themselves as a reference center of a CE and a circular city, respectively. This is an important result compared to the previous literature that encourages further future research to provide more generalizable results. Further, the case study of the Rifò regenerative circular business model shows the current “limits” of recycling and the need to thoroughly consider the CE model by implementing all CE principles and promoting a timeless and responsible fashion, conveying the emotional, environmental and social values behind garments. Full article

Background: Fintech companies have revolutionized the financial services industry in India in recent years. This is especially true for the growth of digital payment methods. India’s unbanked are being introduced to banking by fintech companies. Despite the country’s strong banking system, many residents find it difficult to get government financial services. This is particularly true for rural or low-income people. This vacuum has been addressed by fintech solutions including digital banking, micro-lending applications, mobile wallets, and UPI platforms. Objectives: to study the impact of financial technology businesses on increasing financial inclusion for India’s underbanked and unbanked population and Challenges encountered by financial technology enterprises in their endeavors to access unbanked populations, encompassing concerns of infrastructure with special reference to western Uttar Pradesh. Method: This mixed-methods study examines how FinTech is narrowing the financial gap for unbanked people using quantitative econometric analysis and qualitative case study assessments. Results: Digital financial innovation and regulatory support encourage inclusive growth in underdeveloped economies, whereas rich nations benefit from sophisticated banking institutions. This is indicated by the small influence of GDP per capita (β = 0.22–0.32, p < 0.05). Findings: The study found that inclusive finance is revolutionized when FinTech is used with the help of robust regulatory frameworks and digital infrastructure. Policymakers should prioritize cybersecurity, public-private partnerships to improve digital literacy, and rural connection if they want more people to take part in the digital financial ecosystem. Implications: FinTech can remove obstacles to accessing financing. The proper coordinated improvements in regulatory frameworks, digital infrastructure and financial literacy among the people are necessary to achieve full financial inclusion. Full article

Peru’s highly competitive garment sector, where microenterprises account for 88.4% of all enterprises, the main barrier to sustainability is low productivity, driven by high rework rates and operational errors. To address this problem, this research proposes an improvement model that combines Standardized Work to unify processes with a Poka Yoke technological solution using artificial vision for real-time defect prevention. This dual approach addresses the root causes of inefficiency, merging a core principle of Lean Manufacturing with an accessible Industry 4.0 tool designed for implementation in resource-constrained environments. The validation of the model demonstrated its remarkable effectiveness, achieving transformative results: the sewing rework rate was drastically reduced from 28.43% to 8.94%, the labeling rework rate were reduced from 18.02% to 3.88%, the production cycle time was optimized from 23.74 to 16.54 min per garment, with a 173.74% increase in productivity. These results not only confirm the validity of the model, but, due to its basis in universal principles and scalable technology, they also guarantee high applicability and replicability in other micro and small companies in the sector, offering a clear path towards a qualitative leap in productivity and competitiveness. Full article

Energy consumption is a key driver of economic and social development, particularly in rapidly expanding sectors such as Information and Communication Technology (ICT). This study explores the energy demand of Quito’s ICT sector across technical, organizational, economic, social, and environmental dimensions, aiming to inform sustainable urban strategies. A mixed-methods approach was applied, combining quantitative and qualitative analyses. Data was collected via questionnaires from 398 ICT companies and analyzed using descriptive statistics and multivariate techniques, including the Gower similarity coefficient, Principal Coordinate Analysis (PCoA), and biplots. The VENSIM PLE x64 version 9.1.1 was used to model energy consumption dynamics. Results indicate that most ICT firms are micro and small enterprises focused on software development and e-commerce, employing highly skilled personnel. Energy use is concentrated in computing and printing equipment, with limited reliance on climate control systems. While 93% of firms express environmental awareness, fewer than 10% have formal energy efficiency policies. Financial constraints and limited access to efficient equipment are the main barriers to improved energy management. The study concludes that, despite a moderate energy profile, there is an urgent need to strengthen internal energy practices. The findings offer a contextualized framework to guide energy policy and organizational strategies, contributing to more resilient and sustainable urban ICT ecosystems. Full article

In a competitive global economy, the efficient use of human capital is a key determinant of productivity, growth, and sustainable development. This study assesses the efficiency of human capital in the Mexican manufacturing sector, with a focus on three strategic subsectors: the chemical industry, the food industry, and the transport equipment industry. The purpose is to analyze how human capital—measured through training, average wages, and daily working hours—relates to firm performance across different branches of economic activity and company sizes. Firm-level data from the National Institute of Statistics and Geography (INEGI) for the period 2009–2021 are analyzed using an input-oriented Data Envelopment Analysis (DEA) with CCR and BCC models. The results reveal significant differences in human capital efficiency across branches of economic activity within each—micro, small, and medium and large—firm size. Overall, the results highlight the central role of human capital investment in enhancing firm competitiveness and advancing the sustainable development of strategic industries. Policy implications underscore the need for training and wage strategies that improve efficiency and strengthen the long-term resilience of the Mexican manufacturing sector. Full article

Environmental, Social, and Governance (ESG) performance is increasingly recognized as a pivotal metric for assessing corporate sustainability. Hence, this study investigates the effect of the Cultural and Tourism Consumption Promotion (CTCP) policy on corporate ESG performance. By treating the designation of demonstration cities as a quasi-exogenous policy event, a difference-in-differences (DID) methodology is adopted for a sample of Chinese A-share-listed culture and tourism companies from 2011 to 2024. The results indicate that the CTCP policy substantially improves culture and tourism firms’ ESG outcomes. Analysis of the underlying mechanisms identified three primary transmission channels: contributing to corporate revenue growth, encouraging green innovation, and alleviating financing constraints. Heterogeneity analysis revealed that the improvement effect of the policy on ESG performance is more significant in state-owned firms, those with sound governance structures, and labor-intensive culture and tourism firms. In addition, the policy may trigger strategic ESG disclosures, particularly among small-scale firms, leading to a greater divergence between their ESG reporting and their actual performance. Our findings illuminate the micro-level governance impacts of special policies for cultural and tourism consumption, providing a theoretical basis and empirical reference for improving culture and tourism industry policies and guiding firms’ sustainable development. Full article

Doing business in today’s turbulent and, above all, changing environment represents a great challenge for financial managers in achieving quality management of the organization. Financial data and financial basis are key sources of information and a basis for the financial manager to make decisions and manage well. Financial data are the basis for the effective management of a company, they enable the monitoring of business performance and making operational and strategic decisions, and they are key for future planning and communication with stakeholders. The aim of this paper is an in-depth analysis of the business operations of selected micro and small companies from the city of Split, which are registered for the preparation and serving of food and beverages, to determine whether financial data, their proper use, and management have an impact on business performance. The resource-based view (RBV) is the basis for the development of this research framework. The RBV theory enables and explains the importance of resources, and through this study, the connection with how to interpret and use financial resources (financial data, i.e., information) and what potential effects they have on the financial performance of micro and small companies in the sector registered for the activity of preparing and serving food and beverages in the tourism sector. According to the Accounting Act in the Republic of Croatia, micro companies meet two of three criteria: total assets up to EUR 350,000, revenues up to 700,000, and an average number of employees during the business year of up to 10, while small companies meet two of the following three criteria: total assets up to EUR 4,000,000, revenues up to EUR 8,000,000, and an average number of employees during the business year of up to 50. The results of the research showed the importance of financial information as a resource necessary for business management and competitive position, but also the necessity of continuous investment in the education of financial managers in order to be able to implement the prescribed acts in a way that maximizes the evaluation of the companies’ business performance. Full article

This research addresses the difference between the green economy and corporate social responsibility (CSR), focusing on micro, small, and medium-sized enterprises (MSEs) that produce textiles such as fabrics, clothing, footwear, and services in eastern Lima, Peru. In a global scenario where sustainability has become an essential pillar of economic, social, and environmental development, it is essential to understand how green economy concepts can be incorporated into local business activities. Given the significant role of MSEs in the national economy and their impact on employment and the social fabric, these companies face the challenge of balancing economic growth with responsible and sustainable practices. This study begins with a central question: how can sustainable economic practices promote CSR in this business sector? Using a quantitative approach, the study analyzes how the green economy acts as a driver of CSR in MSEs, as well as the degree of connection between the green economy and the implementation of social responsibility policies and actions in these companies. The results indicate a strong relationship between the two concepts (R² = 0.91), suggesting that the green economy may be an important factor in promoting social and environmental commitment within these organizations. In conclusion, the green economy represents a strategic opportunity to strengthen CSR in MSMEs, providing economic, social, and environmental benefits, although it also entails challenges related to resources, knowledge, and organizational adaptation. This integration could be crucial for sustainable development at both the local and national levels. Full article

The textile sector plays a crucial role in Peru’s economy. This case study examines a Micro and Small Enterprise (MSE) in the Peruvian textile sector, which experienced a productivity decline to 0.085 units per sol in 2023, compared to the sector average of 0.13 units per sol. This productivity gap resulted in a 22.45% reduction in the company’s income. Previous studies addressing similar productivity issues have achieved only marginal improvements. This study aims to achieve more significant results by implementing 5S, Total Productive Maintenance (TPM), digitization, and advanced data analytics to enhance data recording and overall productivity. Data analytics is utilized to transform raw data into actionable insights, optimize maintenance, and improve quality control. The methodology was tested through a pilot project in the company’s apparel division, resulting in a productivity increase of 0.10 sol/unit. The study concludes that the applied methodology, supported by data analytics, effectively addresses the productivity issues and optimizes the processes within the case study. In a textile sector MSE, which has a problem with the low productivity present during the past year of 2023, i.e., of 0.085 und/sol whereas is at 0.13 und/sol on the side of the sector, it thus generates a negative economic impact of 22.45% of the company’s income and a presenting a gap of 0.085 und/sol while the sector is at 0.13 und/sol. Previously, studies have been presented, seeking to solve similar problems and obtaining minimally positive results, which is why the motivation to achieve favorable results to ensure that the MSEs in the sector can develop optimally with the support of tools such as 5S, TPM, and innovative technologies such as digitization, thus allowing better recording of their data. The application of this methodology is designed through a pilot in the apparel area of the company, allowing it to achieve a positive result by increasing productivity by 0.10 sol/unit. It can be concluded that this methodology allows solving the problems addressed and optimizing the processes of the case study. Full article

This study analyzes the current state of artificial intelligence (AI) adoption among micro-, small-, and medium-sized enterprises (MSMEs) in Ecuador, with a focus on its application across core business functions. Using a stratified random sample of 385 firms from the most representative economic sectors, a survey instrument was designed to assess three dimensions: access to AI-enabling conditions, degree of AI utilization, and organizational characteristics. The results reveal that AI adoption remains limited and highly concentrated in marketing-related functions, particularly in content generation and social media automation, with minimal implementation in finance, logistics, and human resource management. The study also identifies the main barriers hindering AI adoption. The lack of qualified professionals and the unavailability of structured databases emerged as the most critical obstacles, followed by limited financial capacity. One-way ANOVA and Kruskal–Wallis tests confirmed significant differences in AI adoption levels based on company size and sector, especially in areas such as inventory optimization and design prototyping. These findings highlight a gap between the potential of AI technologies and their real-world implementation in Ecuadorian MSMEs. They underscore the need for targeted strategies focused on workforce training, digital infrastructure development, and institutional support to promote broader and more effective AI integration. Full article

The scientific literature and practice have demonstrated that the old linear economic model “extract—produce—use and throw away” is no longer sustainable due to the enormous accumulation of waste and the related production of CO₂. Consequently, there is a need to adopt more sustainable development systems that include recycling resources and producing goods derived from recycled material. The examined literature highlights that SMEs are the least likely to make technological or paradigm changes in favor of sustainable choices due to a lack of resources and managerial competencies. This study presents a mixed-method approach based on qualitative and quantitative analyses. The qualitative analysis aims to identify, in the Italian context, measures that encourage companies to reduce the use of plastics in favor of sustainable alternatives. The quantitative analysis, based on secondary data, aims to identify the characteristics of the firms that benefited from the aid identified in the previous analysis. Thus, this study may support corporate environmental sustainability strategies in Italy by identifying specific characteristics and profiles of those companies willing to obtain public incentives for the use of recycled materials in their business and production processes. The results show that small and micro-sized companies obtained most of the analyzed incentives (almost 76% in terms of number of applications), and the most affected areas by these measures are the agriculture and food industries. Therefore, economic incentives can improve sustainable performance for small and micro-sized enterprises in the wide agri-food sector, while the legislator must adopt different tools, such as bans, Extended Producer Responsibility (EPR), and sustainability reports for medium-large sized companies of other crucial industrial sectors such as construction and automotives. Full article

Risk-taking is a critical driver of sustainable development and financial performance for firms, especially under environmental degradation constraints. Despite the increasing implementation of green credit policies, their impact on corporate risk-taking remains underexplored in the existing literature. This study investigates the effects and underlying mechanisms of green credit policies on risk-taking behaviors among Chinese listed companies from 2009 to 2019. Utilizing econometric methodologies, including Difference-in-Differences, mediation analysis, and moderation analysis, the findings reveal that green credit policies significantly enhance the risk-taking activities of polluting enterprises. These results are robust across various sensitivity tests. Additionally, the relationship between green credit policies and corporate risk-taking is mediated by debt maturity mismatch and moderated by ESG and executive compensation. Subgroup analyses indicate that large and state-owned polluting enterprises experience greater increases in risk-taking compared to their small, medium-sized, and private counterparts. Furthermore, executive remuneration notably amplifies risk-taking in private firms. This research provides essential micro-level insights to optimize the effectiveness of green credit policies in promoting corporate risk-taking and advancing sustainable development. Full article

While achieving common prosperity necessitates a focus on the efficiency and equity of the primary income distribution, income inequality persists in China. As a critical tax incentive mechanism, China’s Accelerated Depreciation Policy (ADP) of fixed assets not only promotes important changes in corporate productivity and production methods but also significantly influences the primary income distribution within enterprises. However, current research offers a limited understanding of the importance of the ADP in the primary income distribution. Given that the core of the primary distribution lies in adjusting the labor income share, we regard 2014’s ADP as an exogenous “quasi-natural experiment”. After theoretically analyzing this policy’s effect on the labor income share of enterprises, our use of difference in differences (DID) validates our theoretical expectations with respect to China’s A-share listed companies during 2010–2022. The results show that the ADP can significantly increase enterprises’ labor income share; all hypotheses proved to be robust. The analysis of mechanisms shows that the ADP mainly affects the labor income share as it upgrades the corporate human capital structure as well as rent-sharing. Analyzing for heterogeneity, we find that positive effects due to the ADP affecting the labor income share are more prominent among private enterprises, medium and small-sized firms, companies with high financing constraints, capital-intensive industries, manufacturing enterprises, and those with a high level of skilled labor. The conclusions of this study contribute to uncovering the impacts of the ADP on income distribution, offering a clearer identification of particular mechanisms explaining the ADP’s effect on the labor income share. It holds significant theoretical value for understanding the micro-mechanisms of economic impacts generated by relevant policies. Furthermore, it provides policy insights in achieving common prosperity. Full article

Business sustainability emerges as a cornerstone for balancing economic growth, environmental preservation, and social well-being, establishing itself as a global priority. However, this approach still faces significant challenges among micro, small, and medium-sized enterprises (MSMEs), particularly in emerging regions such as Ciudad Victoria, Tamaulipas, Mexico. This study examines how business networks facilitate the adoption of sustainable practices through knowledge transfer and inter-organizational collaboration, emphasizing the influence of sociological factors and social interactions. Using a qualitative approach that combines semi-structured interviews and social network analysis with UCINET software version 6.776, an active network of 54 companies is analyzed. The results highlight central nodes with high betweenness centrality, underscoring their role as catalysts in disseminating sustainable practices. A significant correlation is also identified between types of business interactions and the implementation of these practices, emphasizing the strategic value of cooperation in fostering responsible behaviors. This study helps bridge the theoretical gap regarding sustainability in MSMEs and offers practical implications for designing policies that enhance business collaboration for sustainable development. Ultimately, it underscores the importance of understanding business interaction dynamics and their implications for driving sustainable transformation in regional contexts. Full article

Adventure tourism offers unique experiences while presenting environmental concerns related to resource consumption and waste generation. Studies integrating circular economy (CE) principles in adventure tourism, particularly in South Africa, are limited. This research investigates the perspectives of managers and owners of adventure Small, Micro, and Medium Enterprises (SMMEs) on challenges hindering the implementation of a CE model and explores how digital technologies can be leveraged to overcome these challenges. The purpose is to gain a deeper understanding of the specific barriers faced by adventure companies in adopting CE principles. The study is rooted in an interpretivist epistemological stance. This study adopts qualitative methodology whereby netnographic tools were used for data collection through 12 online interviews with owners and managers in Mpumalanga. The results present the solutions provided by digital technologies towards advancing resource efficiency in a sustainable and resilient pathway in the adventure tourism industry. By focusing on the perspectives of stakeholders within adventure tourism SMMEs, this research provides valuable insights for a more sustainable and resource-efficient industry in South Africa. The Mpumalanga case study of successful CE implementation and investigation of the environmental impact reduction potential of CE practices in adventure tourism could be beneficial to practitioners and researchers. Full article