Search Results (64)

The transition to sustainable, innovation-driven economies has become a global imperative, particularly for resource-dependent regions like the Middle East, where environmental challenges, fossil fuel reliance, and economic diversification pressures intersect. In this context, green innovation plays a pivotal role in mitigating environmental degradation while supporting long-term economic growth. This study examines the short-term and long-term drivers of green innovation across 13 Middle Eastern countries from 1990 to 2023, with a focus on environmental governance, environmental pollution, economic growth, and natural resource abundance. Using a balanced panel dataset, this study applies Frees, Friedman, and Pesaran CSD tests to address cross-sectional dependency and second-generation unit root tests for data stationarity. Both first- and second-generation cointegration tests confirm long-run relationships among variables. The empirical analysis employs the cross-sectional autoregressive distributed lag (CS-ARDL) model, alongside Pooled Mean Group (PMG-ARDL), Average Mean Group (AMG), and Common Correlated Effects CCEMG estimators, ensuring robustness. The findings indicate that, in the long term, environmental governance, economic growth, population size, and natural resource abundance significantly promote green innovation, with respective coefficients of 0.3, 0.01, 0.02, and 0.4. Conversely, human development and environmental pollution exert a negative influence on green innovation, particularly over the long term. These results suggest that, while economic and governance factors drive innovation, human capital development may prioritize immediate growth over sustainability, and pollution may hinder long-term innovation. Enhancing environmental governance, accelerating renewables, using strategic resource revenue for green projects, integrating green growth, and regional collaboration can position Middle Eastern economies as green innovation leaders. Full article

Transportation infrastructure systems sit at the nexus of urban economic development and emission mitigation. The primary objective is to identify and quantify the key factors influencing CI, with a focus on both the conventional and emerging indicators through an innovative MLP neural network developed using the data of 20 Chinese transportation enterprises that have a business focus on the construction and operation sector from 2018 to 2022. The hypothesis is that integrating unconventional indicators—such as business model entropy and green revenue share—alongside traditional metrics can significantly enhance the predictive accuracy for CI. The results show that business model entropy explains 42.6% of carbon intensity (Cl) variability through green revenue diversification pathways, while emissions trading system (ETS) exposure accounts for 51.83% of decarbonization outcomes via price-signaling effects. The analysis reveals that a critical operational threshold–renewable energy capacity below 75% fails to significantly reduce Cl, and capex/revenue ratios exceeding 73.58% indicate carbon lock-in risks. These findings enable policymakers to prioritize industries with sub-75% renewable adoption while targeting capex-intensive sectors for circular economy interventions. The novelty of this work lies in the application of advanced machine-learning techniques to a comprehensive, multi-source dataset, enabling a nuanced analysis of CI drivers and offering actionable insights for policymakers and industry stakeholders aiming to decarbonize transport infrastructure. Full article

Internationalisation can profoundly reshape corporate social responsibility (CSR). As companies expand into global markets, they not only seek to boost revenues but also to strengthen their social impact. This study explores the influence of internationalisation on the CSR performance of Peruvian manufacturing firms between 2019 and 2022, drawing on the theoretical frameworks of Johanson and Vahlne, the Uppsala model, and Merubia’s theory of international networks. Using panel data econometric models, this study analyses a sample of 21 manufacturing companies based in Lima. It examines how CSR performance relates to key dimensions of internationalisation, including foreign sales, geographic diversification, and cultural diversification. The findings reveal a significant relationship between internationalisation and CSR, suggesting that firms enhance their operations by integrating responsible and sustainable practices throughout their international expansion. Full article

This study investigates the relationship between diversification and profitability in Macau’s gaming firms, offering quantitative evidence from the world’s largest gambling market. Compared to other major gambling hubs such as Las Vegas, Macau’s gaming companies generate higher revenues but exhibit significantly lower levels of diversification, highlighting an urgent need for strategic expansion beyond gaming. Drawing on governmental data and company financial reports issued from 2010 to 2019, this research employs a combination of case study analysis, linear regression modeling, and bootstrapping techniques. The findings reveal that an increased share of non-gaming business significantly enhances profitability metrics, including net profit margin, return on assets, and a firm’s profit share within the overall gaming market. These results offer valuable implications for the development of corporate strategies, regulatory frameworks, and future academic research. Full article

The past decade has witnessed the bourgeoning development of sustainable entrepreneurship organizations (SEOs) that are engaging in advancing sustainable development in China. Revenue diversification is often considered by policymakers, scholars, and practitioners to be a desirable strategy for improving the financial health and organizational sustainability of SEOs and other types of hybrid organizations. However, previous studies on the benefits of revenue diversification for hybrid organizations have not reached a definitive conclusion, and the empirical literature has devoted little attention to the financial outcomes of revenue diversification in the SEO context. To address these knowledge gaps, this study uses fuzzy set qualitative comparative analysis to investigate how revenue diversification and organizational conditions interact to conjunctively affect the multidimensional financial health of SEOs in the Chinese context. This study identifies divergent configurations for high and low levels of financial health in four dimensions and across different types of SEOs. The results show that revenue diversification generates benefits primarily for large, established for-profit SEOs in terms of enhancing their financial flexibility but produces no observed improvements in financial flexibility, efficiency, profitability, or growth among nonprofit SEOs. These findings contribute to the sustainable entrepreneurship and sustainability literature in diverse ways, with valuable practical implications for SEO practitioners and major stakeholders. Full article

As Saudi Arabia accelerates its Vision 2030 agenda, sustainable urban development has emerged as a critical pillar for economic diversification and climate resilience. This study investigates the role of green municipal bonds (GMBs) as a catalytic financing tool to address funding gaps in low-carbon infrastructure and renewable energy projects within the Kingdom’s arid, fossil-fuel-dependent context. Employing a mixed-methods approach—combining qualitative case studies of global best practices (e.g., Gothenburg, Cape Town) and quantitative analysis of Saudi municipal financial data—we evaluate the feasibility of GMBs in bridging fiscal shortfalls while aligning with environmental, social, and governance (ESG) criteria. The research introduces a novel conceptual framework that integrates regulatory harmonization, stakeholder coordination, and Shariah-compliant financial mechanisms, tailored to Saudi Arabia’s socio-economic and climatic realities. Key findings reveal that GMBs could cover 40% of municipal revenue gaps, attract global ESG investors, and reduce carbon emissions by 30% through projects such as NEOM’s renewable grids and Riyadh’s urban greening initiatives. By addressing underexplored intersections of fossil-fuel transitions, arid-climate governance, and Islamic finance, this study advances sustainable urban scholarship and offers actionable policy recommendations, including a phased roadmap for GMB adoption and the establishment of a Saudi Green Bond Taskforce. The results position Saudi Arabia as a regional leader in climate-resilient finance, providing replicable insights for resource-dependent economies pursuing carbon neutrality. Full article

Passenger transportation in Japan’s main metropolitan areas is operated by the JR companies, which were privatized and divested from Japan National Railways (JNR) in 1987 and by 16 major private railway companies with large-scale operations. Although their core business is transportation, the major private railway companies have adopted a strategy of diversification, and they engage, e.g., in real estate and distribution businesses. This study examines the relationship between the degree of business diversification and the production efficiency of Japan’s major private railway companies from the perspective of a future business model. To this aim, this study applies data envelopment analysis combined with the Malmquist index to the data of the railway companies from 1987 to 2019. We focus on four phases of activities: cost, operational resource, operational output, and total revenue. This study is the first to analyze the diversified management of Japanese railroad companies by evaluating their production efficiency and its changes over time. The results of the analysis reveal that, while all companies’ earnings have generally increased, the less diversified they are, the more they struggle to optimize personnel and other overhead expenses and resources, lowering production efficiency. Full article

This entry explores the financial impact of the COVID-19 pandemic on the football industry, highlighting the challenges, adaptations, and long-term implications for clubs across all levels. It examines the industry’s financial fragility, particularly for clubs reliant on matchday revenue, while showcasing adaptive strategies such as digital engagement, government support, and revenue diversification that sustained operations during the crisis. The pandemic exposed structural vulnerabilities within football, from elite clubs to grassroots teams, through revenue shortfalls caused by closed stadiums, cancelled matches, and reduced sponsorships. This study provides a comprehensive analysis of the pandemic’s effects on revenue streams, fixed costs, player contracts, and stakeholder roles, offering insights into strategies that promote financial resilience. Case studies illustrate how elite, semi-professional, and grassroots clubs responded to financial and operational challenges, emphasising the importance of diversified income sources, proactive financial planning, and community support. By identifying lessons from the pandemic, the entry underscores the critical need for sustainable practises and resilient models to prepare the football industry for future disruptions. Full article

Agrivoltaics, combining agricultural production with a photovoltaics system, leverage the dual benefits of panel shading and electricity to optimize traditional farming methods. Agrivoltaics offer many advantages, including agricultural and environmental benefits (e.g., increased crop productivity, water conservation, and enhanced biodiversity), energy benefits (e.g., increased energy production and efficiency), and social benefits (e.g., improved food and energy security, diversification of income, and rural development). Although agrivoltaic approaches have been around for about forty years, little is known about the long-term benefits, potential compatibility with current agricultural practices, market uncertainty and economic viability, and overall benefits. This research provides a review of the literature with a particular focus on individual income generation opportunities: (1) solar energy generation, (2) electricity sales, (3) agricultural production, (4) agricultural sales, and (5) agrivoltaics installations. Each focus area has an associated critical review of government-sponsored market transformation policies aimed to increase agrivoltaics adoption. The paper concludes with a call to action for establishing a collaborative agenda toward prioritizing agrivoltaics research and adoption. Future research is needed to find innovative designs and practices that maximize agricultural productivity within APV systems. Two promising areas for research and innovation include (1) real-time performance monitoring and (2) peer-to-peer networks. Implementing real-time performance monitoring systems can provide valuable data on energy production, microclimate conditions, and crop growth within APV setups. Additionally, peer-to-peer trading platforms can allow farmers to sell surplus energy generated by their APV systems directly to local consumers, bypassing traditional energy utilities. This decentralized model could provide farmers with an additional revenue stream, while promoting the use of renewable energy within local communities, further incentivizing the adaptation of APVs. Full article

This study examines the role of business accelerators in fostering startup performance across diverse entrepreneurial ecosystems, focusing on Romania, the United States, and Italy. Using a cross-country comparative approach, this research investigates how accelerators influence grant utilization efficiency, financial management capabilities, sustainable business practices, and income growth and diversification. The findings reveal that accelerators significantly enhance startups’ financial resource management and revenue growth, with variations across the target countries. In Romania, accelerators address structural barriers and resource constraints, while in the United States, they drive sector-specific innovations within a mature ecosystem. Italy highlights a blend of traditional and emerging industries, with accelerators fostering sustainability initiatives and innovation. This study introduces sustainable business practices and financial management capabilities as mediating factors, developing existing theoretical models. Practical implications for entrepreneurs, policymakers, and investors are outlined, emphasizing personalized business accelerator strategies to address contextual challenges. Full article

The multifunctionality model is receiving more and more attention from policymakers as a result of recent initiatives to build more resilient and sustainable food systems as well as the potential for increased farm revenue. This paper explores the role of multifunctional farming in the Italian agriculture viewed through the lens of an entrepreneurial strategy grounded on-farm diversification. Farm diversification strategies, which broaden the farm’s traditional boundaries to include additional activities at the farm level, help the evolution towards multifunctionality. A policy-driven transition towards multifunctional farming has been noticed in Italy during the past few decades, which has prompted a strategic reconfiguration of the farm’s business models. Drawing on the identified activity of portfolio diversification, this study provides an overview of the analyzed 49,429 Italian farms, by articulating diversification strategies into four entrepreneurial activities, which are related to on/off-farm/farm-related or farm-diverse diversification strategies. This article has attempted to verify the presence of farm types that responded to portfolio diversification management strategies through the use of a cluster analysis on data from the general census of Italian agriculture. Supporting new patterns in the adoption of business models focused on multifunctionality should be considered in European rural development policies. Full article

This study investigates the relationship between sustainable economic growth and foreign direct investment (FDI) in Saudi Arabia from 1980 to 2023. The ARDL approach and VECM technique are employed to analyze the short-run and long-run dynamics. The short-run results show mixed effects. Sustainable economic growth has a positive impact on current and one-period lagged FDI but a negative impact on the two periods lagged. Trade openness and infrastructure negatively affect FDI in the short run. Interestingly, oil rents and real economic growth also have negative short-run impacts on FDI, but these effects become positive with a longer lag. Long-run analysis reveals a negative relationship between trade openness, infrastructure, and oil rents with FDI, suggesting a potential crowding-out effect. Trade openness has a positive long-run impact on most variables, including sustainable growth, FDI, real growth, and CO₂ emissions. Oil rents also have a positive long-run impact on these variables. This study finds six bidirectional causal relationships in the short run, primarily between trade openness, infrastructure, oil rents, and FDI. Unidirectional causality runs from oil rents, trade openness, exchange rate, sustainable growth, and real growth to FDI and infrastructure. Additionally, CO₂ emissions cause FDI, and trade openness causes sustainable growth. While sustainable economic growth benefits FDI in the long run, short-term policies regarding trade openness and infrastructure require reevaluation. Oil revenue and real economic growth may initially deter FDI, but this reverses in the long term. To attract sustainable FDI, policymakers should focus on long-term economic growth strategies and consider reforms in trade and infrastructure policies. A comprehensive FDI strategy that moves beyond oil dependence and leverages trade openness is crucial to long-term economic diversification. Full article

This paper delves into the critical determinants of renewable energy consumption, focusing on the contrasting roles of oil imports and exports. It aims to bridge the knowledge gap by comparing these determinants across both oil-importing and oil-exporting nations, offering a comprehensive and nuanced perspective to inform policy recommendations. Using annual data from 1990 to 2018 sourced from the World Bank database, the study employs panel multiple regression analysis and adopts a fixed effects model to explore two main questions: What drives the use of renewable energy sources? How does a country’s oil importer or exporter status affect these factors? The findings reveal a significant but inverse relationship between oil rents and renewable energy consumption (REC) for both types of countries. Additionally, there is a notable negative correlation between GDP growth and REC for both oil-exporting and oil-importing countries. Interestingly, the crude oil average closing price and inflation show an insignificant impact on REC in both contexts. The study also highlights that net energy imports significantly affect REC, with a much stronger inverse relationship in oil-importing countries compared with oil-exporting ones. For oil-importing countries, diversifying energy sources is a crucial investment. Governments should prioritize research and development in renewable energy to spur technological advancements, enhancing efficiency and affordability. Economic growth-promoting policies, such as tax incentives and subsidies for renewable energy businesses, are vital for encouraging sustainable practices. Consistent, long-term policies are essential for providing investor confidence and supporting the transition to renewable energy. For oil-exporting countries, similar strategies are recommended. Additionally, allocating a portion of oil revenues to renewable energy infrastructure and funding research and development in renewable technologies through local universities and startups are crucial steps. This dual approach will not only enhance energy diversification but also foster innovation and sustainability in the energy sector. Full article

This study investigates the impact of Government Consumption (GC) on Saudi Arabia’s GDP during major economic crises from 1969 to 2022, focusing on periods marked by fluctuations in oil and non-oil revenues. By integrating these revenue streams, the research provides a more comprehensive analysis of fiscal policy effectiveness during economic downturns. Using an Autoregressive Distributed Lag (ARDL) model, the study reveals the complex role of Government Consumption (GC) in stabilizing and stimulating the Saudi economy amidst revenue volatility. Key findings indicate that while GC does not significantly influence GDP in the short term, its long-term effectiveness varies across different crises. Specifically, GC has acted as a buffer against immediate economic shocks during certain crises while providing a stimulus for economic recovery in others. During the 2020 COVID-19 pandemic, timely fiscal measures significantly boosted GDP, underscoring the importance of adaptive and proactive fiscal policies. Conversely, the 2014–2016 oil price collapse demonstrated that GC alone was insufficient to counteract economic downturns, emphasizing the need for diversified revenue strategies. These findings underscore the dual role of GC in economic stabilization and recovery. During the COVID-19 pandemic, GC played a crucial role in both mitigating negative economic impacts and supporting recovery efforts, showcasing its effectiveness in times of global disruptions. This demonstrates GC’s capability as an immediate buffer against economic shocks and a stimulus for economic recovery. In contrast, during the 2014–2016 oil price collapse, GC was less effective, indicating the limitations of relying solely on government spending without broader economic diversification. This highlights the necessity of diversified revenue strategies to complement fiscal measures for long-term economic resilience. The robustness of the findings was ensured through various diagnostic tests, including checks for autocorrelation, heteroskedasticity, and stationarity of residuals. The absence of significant autocorrelation and heteroskedasticity, along with the stationarity of differenced variables, confirms the validity of the econometric models used. The study contributes to the discourse on fiscal policy in oil-dependent economies by illustrating the critical role of diversified revenue strategies and adaptive fiscal measures in enhancing economic resilience. Recommendations are offered for policymakers to optimize fiscal strategies, ensuring robust economic recovery and long-term stability in volatile markets. This research highlights the necessity for Saudi Arabia to refine its fiscal policies towards greater economic diversification and stability. Full article

Geography is a significant element of social innovation. This paper focuses on exploring differences and similarities in the characteristics and contributions towards impact of Work Integration Social Enterprises (WISEs), a form of social innovation which provides otherwise unmet services and opportunities to people at risk of social and economic exclusion and distant from the labour market, in rural and urban areas of Ireland. To do so, we use data from 336 surveys from urban (213) and rural (123) WISEs and conduct an exploratory and spatially sensitive analysis to compare the characteristics, in terms of organisational age, legal and governance form, multiplicity of activities, revenue diversification; and contributions towards impact, in terms of geographical focus/reach, employment, volunteers, and income generation. Our analysis shows that WISEs in urban and rural areas present rather similar organisational characteristics and ways of functioning (legal structure, multiactivity, multiple sources of funding), but their contributions to socioeconomic impact differ according to their spatial location, with urban WISEs generating significantly more employment and income than their rural counterparts. Our study illustrates that socially innovative organisations are spatially sensitive, and that context influences their capacity to create sustainable employment opportunities and contribute to the local economy. Full article