Search Results (50)

Understanding the entrepreneurial profile is essential for developing effective regional policies that promote business growth. The path of an entrepreneur is shaped not only by individual decisions but also by the inherent risks of managing a business. This study aims to identify the characteristics of entrepreneurs at the regional level, specifically highlighting the impact of accumulated experience in their fields. Our central hypothesis asserts that entrepreneurial experience significantly influences how business owners perceive and respond to economic challenges. Utilizing survey data from 120 entrepreneurs in Romania’s Center Region (a NUTS 2 area), we reveal that entrepreneurial experience profoundly affects perceptions of key business challenges, such as legislative instability, taxation predictability, governmental support strategies, and access to SME financing. Importantly, our findings demonstrate that entrepreneurs with less than 10 years of experience express greater concerns about these challenges compared to their more seasoned peers. This novel insight highlights the need for tailored policy interventions aimed at enhancing regional economic resilience and fostering entrepreneurial sustainability. By addressing the specific needs of less experienced entrepreneurs, our study contributes to a deeper understanding of how experience shapes business dynamics in the region. Full article

The intersection of green finance and artificial intelligence (AI) represents a rapidly emerging and high-impact research domain with the potential to reshape sustainable economic systems. This study presents a comprehensive bibliometric and network analysis aimed at mapping the scientific landscape, identifying research hotspots, and highlighting methodological trends at this nexus. A dataset of 268 peer-reviewed publications (2014–June 2025) was retrieved from the Web of Science Core Collection, filtered by the Business Economics category. Analytical techniques employed include Bibliometrix in R, VOSviewer, and science mapping tools such as thematic mapping, trend topic analysis, co-citation networks, and co-occurrence clustering. Results indicate an annual growth rate of 53.31%, with China leading in both productivity and impact, followed by Vietnam and the United Kingdom. The most prolific affiliations and authors, primarily based in China, underscore a concentrated regional research output. The most relevant journals include Energy Economics and Finance Research Letters. Network visualizations identified 17 clusters, with focused analysis on the top three: (1) Emission, Health, and Environmental Risk, (2) Institutional and Technological Infrastructure, and (3) Green Innovation and Sustainable Urban Development. The methodological landscape is equally diverse, with top techniques including blockchain technology, large language models, convolutional neural networks, sentiment analysis, and structural equation modeling, demonstrating a blend of traditional econometrics and advanced AI. This study not only uncovers intellectual structures and thematic evolution but also identifies underdeveloped areas and proposes future research directions. These include dynamic topic modeling, regional case studies, and ethical frameworks for AI in sustainable finance. The findings provide a strategic foundation for advancing interdisciplinary collaboration and policy innovation in green AI–finance ecosystems. Full article

CCS/CCUS is considered vital for global climate mitigation, especially in decarbonizing hard-to-abate sectors like upstream oil and gas. In Indonesia, however, its deployment remains limited due to fragmented stakeholder views and lack of integrated policy support. This study explores multi-stakeholder perspectives, including government, academia, business, finance, media, and civil society, on the role and feasibility of CCS/CCUS in achieving the country’s net zero emissions (NZE) target. Using a mixed-method approach, we conducted structured surveys (n = 39) and in-depth interviews (n = 34). Findings reveal broad support for CCS/CCUS but highlight ongoing concerns about economic viability, regulatory uncertainty, and environmental risks. Stakeholders emphasize the need for stronger government incentives and cross-border financing mechanisms. The study underscores the importance of inclusive policymaking, enhanced fiscal support, and integration of CCS/CCUS into Indonesia’s carbon economic value framework to ensure a more participatory and sustainable climate policy pathway. Full article

In the context of a progressively intricate and uncertain global economic landscape, the credit risk businesses encounter is intensifying. This study seeks to analyze whether intelligent transformation, a significant trend in current organization development, might serve as a novel method for mitigating credit risk. We employ panel data from 1533 listed enterprises in China’s manufacturing sector to investigate how intelligent transformation influences credit risk empirically. This research indicates that intelligent transformation can mitigate business credit risk. The production, management, and financing effects are the primary mechanisms via which intelligent transformation mitigates credit risk. Heterogeneity analysis indicated that the credit risk reduction effect of the intelligent transformation of traditional manufacturing firms surpassed that of intelligent manufacturing enterprises. In contrast to high-growth firms, low-growth enterprises exhibited more robust credit risk mitigation benefits from intelligent transformation. Subsequent analysis indicated that enhancing supply chain finance can facilitate intelligent transformation and, hence, more effectively mitigate credit risk. Full article

China’s retail industry faces unique challenges in supply chain financing, particularly for small and medium-sized enterprises (SMEs) that often struggle to secure loans due to insufficient credit ratings and collateral in the business environment of China. This paper presents a groundbreaking approach that integrates real-time data elements into financing models, addressing the critical issue of information asymmetry between financial institutions and retail SMEs. By leveraging dynamic data such as orders, receivables, and project progress, our novel framework moves beyond the limitations of traditional asset-based lending, employing advanced data analytics for enhanced credit assessment and risk management. Applying the Stackelberg game theory, we explore the strategic interactions between suppliers and purchasers in the retail supply chain, identifying optimal financing strategies that improve capital flow efficiency and reduce overall costs. Our comprehensive data-driven model incorporates various scenarios, including the traditional supply chain financing model (Model T) and the innovative data-element secured financing model (Model G). The latter further considers risk assessment, risk appetite, volume, and schedule factors, providing a holistic approach to financial decision-making. Through rigorous mathematical modeling and numerical analysis, we demonstrate the effectiveness of our proposed framework in optimizing supply chain financing strategies. The results highlight the potential for data-driven approaches to unlock new financing opportunities for SMEs, fostering a more collaborative and efficient ecosystem within the retail industry. This study presents comprehensive data-driven strategies that unlock new financing opportunities for SMEs, providing a practical roadmap for stakeholders to foster a more collaborative and efficient supply chain financing ecosystem. The significance of studying supply chain finance for small and medium-sized enterprises (SMEs) lies in optimizing financing models to address the financing difficulties faced by SMEs. This helps improve their market competitiveness and promotes resource sharing and collaboration among all parties in the supply chain, thereby achieving sustainable economic development. Full article

In the 21st-century global economy, the rapid growth of the finance industry, particularly in personal credit, fuels economic growth and market prosperity. However, the rapid expansion of personal credit business has brought explosive growth in the amount of data, which puts forward higher requirements for the risk management of financial institutions. To solve this problem, this paper constructs an intelligent evaluation model of personal credit risk under the background of big data. Firstly, based on the forest optimization feature selection algorithm, combined with initialization based on chi-square check, adaptive global seeding, and greedy search strategies, key risk factors are accurately identified from high-dimensional data. Then, the XGBoost algorithm is used to evaluate the credit risk level of customers, and the traditional Sparrow Search Algorithm is improved by using Tent chaotic mapping, sine and cosine search, reverse learning, and Cauchy mutation strategy to improve the optimization performance of algorithm parameters. Finally, using the Lending Club dataset for empirical analysis, the experiment shows that the model improves the accuracy of personal credit risk assessment and enhances the ability of risk control. Full article

Green technology innovation (GTI) is an important way for enterprises to promote technological progress and enhance their market competitiveness. As investment in R and D and innovation is a high-risk, long-term investment project with high sensitivity to relevant policies, increases or drastic fluctuations in economic policy uncertainty (EPU) may have a strong impact on technological innovation. Therefore, it is necessary to examine how EPU affects GTI. In contrast to studies that have focused on the impacts of EPU on GTI in developed countries or state-owned firms in China, this study uses the mediating effect panel fixed effect model to investigate the impacts of EPU on corporate GTI and its mechanisms, based on data from China’s Shanghai and Shenzhen A-share private manufacturing listed companies from 2013 to 2022. The results indicate that an increase in EPU has a positive impact on the GTI of private enterprises and that the impact is stronger in companies with multiple major shareholders, those purchasing directors’ and officers’ liability insurance, and those with stricter environmental regulations. This conclusion remains valid after robustness checks and instrumental variable tests. Mechanism tests reveal that the increase in EPU indirectly promotes GTI by forcing private enterprises to avoid short-sighted management tendencies, increase risk-taking levels, boost environmental protection investments, and strengthen internal controls. For example, EPU will lead to increased investment in green protection, meaning that private companies are more willing to promote green transformation and market competitiveness through innovative activities. These findings provide a reference for the Chinese government to formulate targeted environmental regulation policies and financing policies to guide the green transformation of businesses; they also provide insights for enterprises in other developing countries to cope with economic policy risks and promote green technological advancement. Full article

Climate risk’s effects on society and economic development are becoming more pronounced, and enterprises have to seize the opportunity for green transformation. Based on public company data from 2011 to 2022, this study explores the causal relationship between climate risk exposure (CRE) and ESG performance by using a two-way fixed effect mode. The results indicate that CRE significantly enhances firms’ ESG performance, which makes improvements in environmental practices. The impact of the promotion is particularly pronounced in state-owned and low-polluting businesses. In addition, it can improve ESG through potential impact channels, such as employing environmental executives, improving environmental protection, and boosting green innovation. Meanwhile, the digital level and financing constraints of enterprises play an effective moderating role. Further discussion shows that the increase in CRE has prompted firms to fulfill environmental responsibilities and reduce carbon emissions. This study provides new quantitative evidence on how firms respond to climate risk, expanding the existing research on ESG performance. It further examines the specific impact path of climate risk on companies’ and green transformation and provides more firm-level insights for policymakers to address climate change. These results enrich the theoretical system of climate risk management and help enterprises strengthen awareness of climate risk to cope with sustainable development. Full article

Access to finance is essential for fostering financial inclusion, improving household economic well-being, and stimulating economic growth. However, if not prudently managed, it can become a double-edged sword, increasing the risk of over-indebtedness, particularly among low-income households. This paper investigates the borrowing behavior of rural households in Egypt, exploring whether it is motivated by the optimization of intertemporal consumption or reflects deeper financial vulnerabilities. The study enhances our understanding of rural households’ financial behavior in Egypt and contributes to the literature by introducing perceived general self-efficacy as a key behavioral factor. The paper employs a quantitative methodology using a probit analysis of the Egypt Labor Market Panel Survey to explore the factors affecting the demand for formal loans, informal borrowing, and Rotating Saving and Credit Associations (RoSCAs). The results show that informal credit plays a dominant role in meeting rural households’ financial needs. A significant positive relationship between formal and informal credit suggests they are complementary. Elderly, married, less educated, and poorer individuals are more likely to seek both forms of credit, with employment stability being a key differentiator. Self-efficacy also has a significant positive effect. No significant regional differences are observed, except in the case of informal borrowing, with rural households in Upper Egypt showing less reliance, suggesting that social image may influence financial behavior in this region. The results suggest that demand for credit is driven by economic and financial vulnerability of rural households. The paper highlights key policy implications. First, to enhance participation in formal credit market, credit policies should offer more affordable, tailored credit relevant to starting a business rather than financing consumption, part of which is conspicuous. Second, the low self-efficacy among the rural poor suggests a need for policies that combine credit access with financial literacy and debt management support to prevent over-indebtedness. Full article

The economy is significantly impacted by environmental, social, and governance (ESG) risks. The growth of the economy can be sped up by the effective management of ESG risks through sustainable business practices. To promote sustainable development and to secure the long-term welfare of employees, customers, and all other stakeholders in the economy, companies must adapt and reposition their business strategies and organizational cultures. The goal of this paper is to determine how a set of common ESG elements, chosen from the viewpoints of sustainability and well-being, influence economic growth in the Western Balkan countries. For each ESG component, we used different variables. The information pertains to the five Western Balkan countries of North Macedonia, Albania, Montenegro, Bosnia and Herzegovina, and Serbia. Because of a lack of data, Kosovo is excluded from the study. Then, we compared results from the analysis of the Western Balkan countries with a set of countries in Southeast Europe, which are members of the European Union and essentially coincide with the Western Europe countries. We performed multiple regression analysis with applied fixed effects to the data model. According to the study’s findings, each of the independent variables had no significant impact on the GDP’s annual growth of the Western Balkan countries, but two of the variables, life expectancy at birth and labor force participation, have certain impact on the GDP growth of Southeast Europe countries, which are members of the European Union. The green transition has gained significant importance in the Western Balkan countries as a crucial pathway toward sustainable economic growth, though it introduces a range of new social and economic challenges. Economically, these nations are confronted with considerable funding requirements for development. To build sustainable societies, it would be beneficial for these countries to explore more creative financing strategies. It is advised to establish financing frameworks that not only increase the transparency in policymaking but also ensure greater accountability in their execution. Full article

Enterprise development is a multifaceted and strategic endeavor that serves as the cornerstone of an organization’s long-term success and sustainability. It represents not merely growth or expansion but a comprehensive transformation that enhances a company’s capabilities, market presence, and internal processes. This development is driven by a deliberate and systematic effort to improve performance across all areas of business activity, aligning with stakeholders’ aspirations and organizational goals. In this context, enterprise development encompasses the strategic management of the organization’s trajectory through effective planning, execution, and evaluation of development initiatives. It demands an adaptive and responsive approach to the rapidly evolving business environment, where challenges and opportunities arise constantly. This requires leveraging modern management practices and analytical tools to integrate various components of the company’s operations, including human resources, finances, technology, and marketing, fostering a cohesive and dynamic growth strategy. The essence of enterprise development lies in the organization’s ability to remain agile—capable of swiftly responding to market changes while proactively seeking and capitalizing on new opportunities. This involves not only addressing external competitive pressures but also mitigating internal risks, ensuring that the enterprise is well-positioned to navigate and thrive in complex environments. The issues related to the phenomenon of enterprise development refer to the geographical area of the so-called Global North. The aim of this entry is to explore and critically analyze contemporary strategies and models that facilitate effective management and acceleration of enterprise growth, providing a framework for organizations aiming to achieve excellence and innovation in the modern economic landscape. Full article

The purpose of the current study is to identify factors associated with women’s entrepreneurial success. By embracing social feminism theory, this study provides a well-rounded analysis of the individual, social, institutional, and economic factors that shape successful women’s business development in a patriarchal society within a Muslim and Arab country. Following the conceptual model development, data were obtained from 212 Moroccan women business owners using a web-based questionnaire. The results, based on structural equation modeling, revealed the positive and direct influence of individual factors on women entrepreneurs’ success, including the need for achievement, and risk-taking. Additionally, external factors, particularly government support, social support, and access to finance, were found to be an important determinant of the entrepreneurial success of Moroccan women. This study enriches the existing knowledge on the determinants of the entrepreneurial success of women in developing countries. It offers offer useful managerial implications for policymakers who should implement appropriate actions to promote gender equality, as well as foster an environment conducive to enabling Moroccan women to launch and develop their own businesses. Full article

This research aims to explore the fiscal and public finance viability on climate physical risk externalities cost for building social-economic-environmental sustainability. It analyzes climate physical risk impact on the real business cycle to change the macroeconomic output functions, its regressive cyclic impact alters tax revenue income and public expenditure function; This research also analyzes that the climate physical risk escalates social-economic inequality and change fiscal-financial policy functions, illustrates how the climate damage cost and adaptation cost distorts fiscal-finance cyclical and structural equilibrium function. This research uses binary and multinomial logistic regression analysis, dynamic stochastic general equilibrium method (DSGE) and Bayesian estimation model. Based on the climate disaster compensation scenarios, damage cost and adaptation cost, analyzing the increased public expenditure and reduced revenue income, demonstrates how climate physical risk externalities generate binary regression to financial fiscal equilibrium, trigger structural and cyclical public budgetary deficit and fiscal cliff. This research explores counterfactual balancing measures to compensate the fiscal deficit from climate physical risk: effectively allocating resources and conducting the financial fiscal intervention, building greening fiscal financial system for creating climate fiscal space. Full article

We document a speculation channel and complement the well-documented collateral channels by offering novel evidence about the effect of curbing housing speculation policies We estimate the positive effect of discouraging housing speculation on household entrepreneurship in China. By exploiting the city-level variations in the stringency of home purchase restrictions between 2011 and 2019 and five waves of China Household Finance Survey (CHFS) data, we find that discouraging housing speculation significantly increases the likelihood of local households starting a business. To address endogeneity concerns, we exploit plausibly exogenous variation using IV estimations and DID research design. The positive effect is stronger for local multiple-home owners, homeowners without mortgage debt, households with previous entrepreneurial experience, households of risk-loving, and households with large assets. This conclusion is robust with city-level evidence. In the mechanism discussion, we find that discouraging housing speculation significantly reduces the likelihood and the plans of local households to purchase new homes and lowers the house price expectations of local households (thus the opportunity cost of starting a business). We also provide evidence supporting the view that discouraging housing speculation increases entrepreneurial opportunities, innovative development, and local households’ social network investments, all of which contribute to starting a business. The results imply that policies to curb housing speculation can lead to beneficial spillover on entrepreneurship and the local economy, as well as contribute to the sustainability of economic growth. Full article

In recent years, the globe has faced a series of topics of growing concern, such as the COVID-19 pandemic, the international financial crisis, rising socio-economic inequalities, the negative outcomes of greenhouse gas emissions, which resulted in climate change, and many others. Organizations worldwide have confronted these new challenges of sustainable finance by incorporating environmental, social, and corporate governance (ESG) factors and digital transformation (DT) in their innovation business strategies. The healthcare sector represents a large share of the global economy (about 10% of global economic output), employs a large number of workers, and needs to rely more on an open innovation model where interested parties, especially patients, are going to have a say in their own well-being. Thus, it is imperative that healthcare providers be efficient, effective, resilient, and sustainable in the face of significant challenges and risks. At the same time, they must offer sustainable development goals and digital transformation to healthcare users through limited governmental resources. This study investigates the role, importance, and correlation of ESG factors and digital transformation to the sustainable finance of healthcare systems through an innovative model. The main purpose of the paper is to present the already implemented ESG and DT factors in the healthcare sector and to propose a mutual and combined implementation strategy based on common evaluation tools, methods, and actions. A set of proposed actions and strategies are presented for the sustainability and resilience of the healthcare sector. Full article