Search Results (302)

Having in view the current global disruptive social and economic landscape, sustainability becomes more important than ever. As producers become more concerned about adopting more sustainable practices, customer awareness towards sustainable behavior must be the focus of all stakeholders. Within this context, the SHIFT framework (proposed in 2019) highlights the manner in which consumers’ traits and attitudes influence their propensity towards sustainable consumption. It consists of five factors considered to be relevant to consumer behavior: Social influence, Habit formation, Individual self, Feelings and cognition, and Tangibility. Different from previous studies, this research focuses on applying the SHIFT framework to the automotive industry, taking into consideration the contribution of digital technologies to fostering sustainable consumer behavior throughout the entire product lifecycle. Using a qualitative research approach, the most relevant digital technologies in the automotive industry were identified and mapped in relation to the three phases of consumption (choice, usage, and disposal). The research aimed to develop and test an original conceptual framework, starting from the SHIFT. The results of the study highlight the fact that the digital technologies, in their diversity, are integrated in different ways into each of the three phases, facilitating the adoption of sustainable consumption. To achieve sustainability, the two key stakeholders, consumers and producers, should share a common ground on capitalizing the opportunities offered by digital technologies. Full article

Higher education institutions (HEIs) are increasingly seen as central actors in entrepreneurial ecosystems, yet their support mechanisms do not always align with the needs of student entrepreneurs. This study investigates how key stakeholders, business students, professors, and experienced start-up founders perceive the relative importance of success factors for student-led start-ups within HEIs. Using a cross-sectional descriptive design, this study used a 34-item survey instrument developed through an extensive literature review and validated for content by a panel of experts. Triangulation between stakeholder groups enabled a multidimensional comparison of perspectives. Descriptive statistics were used to analyze patterns of agreement and variability, resulting in a three-tier framework of success factors based on perceived importance and consensus. High-impact factors included faculty entrepreneurial experience, student mindset, and access to mentorship, while traditional inputs such as infrastructure, legal support, and funding were ranked lower. The findings highlight a misalignment between institutional offerings and stakeholder priorities, highlighting the critical role of social and human capital. This research provides practical guidance for HEIs seeking to improve entrepreneurial support and contributes to theoretical discussions on stakeholder-informed ecosystem models. Although limited by its single-institution context, this study offers a foundation for future cross-institutional and longitudinal research. Full article

This study aimed to analyze whether formal managers’ qualifications explain the Brazilian pension funds’ disclosure level. It started from the assumption of information asymmetry between stakeholders. We also recognize that the problems related to asymmetry in companies participating in the capital market, commonly pointed out in the literature, would not behave in the same way in pension funds. Other factors explain the disclosure in these organizations, like the qualification of managers. We calculated the disclosure level for each of the 209 Brazilian pension funds that made up the sample. We analyzed the dates using multiple linear and logistic regression as a robustness test. The results indicated that the formal qualification of managers, characterized by master’s and or doctoral degrees, has a positive relationship with the level of disclosure of pension funds, indicating that the greater the formal qualification of the manager, the greater the level of disclosure. Thus, this study shows insights that the explanations about company disclosure given in the literature, especially its effect on market value, are not necessarily the same in pension funds, which are explained by other factors, such as the qualification of managers. The results can contribute to regulatory bodies to formulate new rules that favor the capability of managers, in addition to identifying the information demanded by stakeholders, allowing for an increase in the level of disclosure and a reduction in information asymmetry, as well as the improvement of governance practices. Full article

Under China’s dual-carbon strategy, the construction sector still lacks a systematic quantitative view of what drives its shift to a circular economy. This study couples the Decision-Making Trial and Evaluation Laboratory (DEMATEL) with Total Adversarial Interpretive Structural Modeling (TAISM) to build a weighted, multi-layer model of the policy–market–organization–technology chain. DEMATEL measures causal strengths, and TAISM arranges the variables into five levels without subjective thresholds, revealing a five-stage activation pathway. Fiscal incentives and regulations start the cascade; market demand amplifies their effect into a “resonant resilience” mechanism that improves cost performance. Robustness tests show 87% hierarchy stability and causal variation within ±0.6%. Sensitivity checks indicate that policy support must supply at least 30% of total network weight, because market capital alone cannot meet circular-construction costs. A three-tier intervention—policy incentives, financial amplification, and digital decomposition via green finance, BIM, and material passports—is therefore recommended. Full article

In recent decades, the intensification of extreme events, such as floods, earthquakes, and hydrogeological instability, together with the spread of pollutants harmful to health, has highlighted the vulnerability of territories and the need to direct urban policies towards sustainable strategies. The built assets and the real estate sector play a key role in this context; indeed, being among the first ones to be exposed to the effects of climate change, they serve as a crucial tool for the implementation of governance strategies that are more focused on environmental issues. However, the insufficient allocation of public resources to interventions to secure the territory has made it essential to involve private capital interested in combining the legitimate needs of performance with the “ethicality” of the investment. In light of the outlined framework, real estate managers are called upon to take into consideration the environmental risks associated with real estate investments and accurately represent them to investors, especially in the fundraising phase. The tools currently used for the analysis of such risks are based on their perception measured by the “risk premium” criterion, reconstructed on the basis of previous trends and the analyst’s expertise. The poor ability to justify the nature of the risk premium and the uncertainty about future scenario evolutions make this approach increasingly less valid. The present work, starting from the aspects of randomness of the risk premium criterion, aims at its evolution through the inclusion of environmental risk components (seismic, hydrogeological, and pollution). Full article

This study explores integrating Bitcoin mining with lignocellulosic biorefineries to create an additional revenue stream. Profits from mining can help offset internal costs, reduce business expenses, or lower consumer prices. Using sensitivity analysis and Monte Carlo simulations, this study identifies key profitability drivers, such as electricity costs, hardware expenses, starting year, and operational time. Time emerged as an extremely sensitive factor and showed that delaying mining operations significantly raised production costs and the probability of profitable outcomes. In contrast, longer mining durations had a smaller yet sizable impact. Hardware costs, computational efficiency, and electricity prices also strongly influenced the outcomes. The majority of simulated events showed a loss. Moreover, the model showed that the marginal profitability of mining decreases over time. Nonetheless, the model demonstrated that under favourable conditions, it is possible to integrate Bitcoin mining into biorefineries and other productive ventures, thereby allowing for cost recovery using Bitcoin profits. For a biorefinery to mine Bitcoin and maximise cost recovery, it must start early, access low electricity prices, and preserve hardware capital characterised by low expenditure and high revenues. Finally, a discussion about the opportunities, risks, and regulations is highlighted. Full article

The impact of intellectual capital on green innovation has been extensively studied at the firm level. However, the influence of moderating factors on this dynamic at the national level remains underexplored in previous studies. This study examines the role of institutional quality in moderating the relationship between national intellectual capital and green innovation across seventeen Asia–Pacific economies over the last twenty years, starting from 2000. Various techniques are employed to account for cross-sectional dependence and slope homogeneity in panel data analysis, enabling the examination of this relationship over the long and short term. The study also considers the marginal effects of national intellectual capital on green innovation at different degrees of institutional quality. Overall findings indicate that increasing national intellectual capital and institutional quality increases green innovation. Interestingly, the effects of national intellectual capital on green innovation intensify with a greater degree of institutional quality. We also find that enhancing economic growth and the efficient exploitation of natural resources appear to stimulate green innovation in Asia–Pacific economies. Findings imply that policies to improve green innovation should align with traditional economic growth strategies and effectively leverage intangible resources, particularly national intellectual capital. This unique empirical study examines the moderating role of institutional quality in the national intellectual capital–green innovation nexus in Asia–Pacific economies. Full article

Background/Objectives: Trajectories of fundamental movement skill (FMS) development start diverging in females and males in early childhood, with determinants of this divergence spanning from individual to social and environmental factors. The present cross-sectional study focuses on the role of free outdoor play and aims to investigate whether sex differences in FMS typically observed in early childhood are associated with participation in free outdoor play. Methods: One hundred and forty-two children aged 4.3 ± 0.8 yrs were evaluated for locomotor and object control skills (TGMD-3), weight status (BMI), and free outdoor play (parent-reported). Motor skill competence scores were submitted to moderated regression analyses to evaluate the individual and joint effects of sex, outdoor play, age, and BMI; interrelations among these variables were also estimated with network analysis. Results: Results of the moderated regression showed, beyond the expected prediction of motor skill competence (overall and object control skills) by sex and age, also a significant sex x outdoor play interaction, with higher motor skills being predicted by more frequent outdoor play in males only. The network analysis confirmed a positive association between outdoor play and motor skill competence in males but not in females. Conclusions: Males might capitalize on free outdoor play opportunities as early as preschool age to engage in activities that promote their motor and especially object control skill development. Longitudinal studies are needed to test causality and derive practical indications for enabling both males and females to fully exploit the opportunities provided by free outdoor play to exercise both locomotor and object control skills. Full article

PM_2.5 levels increase in cities during the first hours of the year due to combustion activities and the use of fireworks. In Quito (2800 masl), the capital of Ecuador, air quality records at the beginning of 2020 to 2025 (6 years) ranged between 13.4 and 217.8 µg m⁻³ (maximum mean levels for 24 h), most of them being higher than 15.0 µg m⁻³, the current recommended concentration by the World Health Organization (WHO), highlighting the need to decrease these emissions and promote actions to reduce the exposure to these extreme events. Air pollution forecasting as a preventive warning system could help achieve this objective. Therefore, the primary aim of this research was to analyze the variation in PM_2.5 levels in this city during the initial hours of the year to define, through numerical experiments, the spatiotemporal configuration of PM_2.5 emissions to reproduce the observed PM_2.5 levels and obtain insights to build an emission-based forecasting tool. For this purpose, we modeled atmospheric variables and the PM_2.5 levels using the Weather Research and Forecasting with Chemistry (WRF-Chem) model. Consistent with the behavior suggested by records of associated meteorological variables, the modeled planetary boundary layer height (PBLH) was generally lower in the city’s south compared with the center and the north. The records and modeled results indicated that in the south, the higher PM_2.5 levels were produced by higher emissions and lower values of the PBLH compared with the center and north, highlighting the importance of reducing the PM_2.5 emissions. The emission maps used for modeling the dispersion at the beginning of 2024 and 2025 are proposed as inputs for the future forecasting of the PM_2.5 levels at the start of the year, as preventive information for the public, to discourage, in advance, both combustion activities and the use of fireworks and to take action to avoid exposure. Full article

About 50% of Italian households’ overall energy consumption is satisfied by natural gas, mainly for space heating, leading to substantial CO₂ emissions. In Italy’s mild climate, fourth-generation district heating (4GDH) networks coupled with renewable energy sources (RESs) could represent a viable option for reaching the ambitious space heating decarbonization objectives set by the EU. In this paper, such a decarbonization pathway, consisting in a centralized heat pump (HP)-powered 4GDH network, with and without the addition of a distributed PV plant, is assessed and compared with the individual natural gas boilers-based Italian reference scenario. A cluster of buildings, comprising 200 dwellings, representative of common households in Rome, has been chosen as the case study. Starting from the cluster’s hourly space heating demand, a semi-dynamic MATLAB/Simulink model has been developed to size the technological components and evaluate their performance with respect to outdoor environmental conditions. The scenario comparison is carried out by means of techno-economic and environmental indicators: the levelized cost of heat (LCOHE), CO₂ emissions, and carbon avoidance cost (CAC). Moreover, a sensitivity analysis has been carried out to address the uncertainty regarding the main economic parameters, namely the electricity and natural gas price and the HP and DH investment cost. The results show that 4GDH-based layouts significantly reduce CO₂ emissions, at the expense of the LCOHE. The sensitivity analysis highlights how a significant reduction in both the electricity price and the DH network capital cost are required for achieving price parity with the fossil-fuel based scenario. Full article

Evangelical immigrants from the Global South have a high degree of confidence in their own ability to start a business in the UK, and they report a significant amount of entrepreneurial engagement within their communities. This article explores how these Christians developed their skills and dispositions, how they are launching businesses in the UK, and—most importantly—how the action of God can be perceived through their experiences. The author constructs a metanarrative which begins in the Global South. Through their encounter with evangelical faith, women and men are developing the ‘spiritual capital’ that has historically been proven to foster entrepreneurship. In many instances, however, this potential for success lies latent in a societal context that hampers and threatens entrepreneurial enterprise. The story then shifts to the UK. When these evangelicals immigrate, many find success in business as they choose to put their spiritual capital to work. It is here argued that the actions of God can be discerned within this story. In the same way that God acted in Biblical times to raise the helpless and to bless exiles in a foreign land, so he seen by his people to be working today. Full article

This article offers a unique interdisciplinary theoretical examination of the stigmatisation of ‘drug addicts’ and its impacts on health and wellbeing. In the present conjuncture, drug addiction has become a metaphor for a ‘wasted’ life. The stigmatisation of addicts creates artificial monsters. They constitute matter out of place—addiction is dirt and the addict a form of symbolic pollution—as their excessive consumption means they are ostracised and branded as failures. Providing a tripartite framework—of failure, feast, and phoenix—this article will suggest that addiction occupies a contradictory social and conceptual space, at once cause, effect, and solution. It is in this context that the stigmatisation of addiction operates, despite the fact addicts constitute a consumer par excellence, solicited by the very system that seeks to punish, control, and cure them. Drawing on Girard’s generative scapegoat alongside the philosophical concept of the Muselmann, which parallels it, this paper will examine the hypocritical and contradictory portrayal, consumption and treatment of addiction; the social harm and stigmatisation arising from this portrayal; the systems of power and privilege that reproduce this; and how these systematically affect not only the health and wellbeing of addicts, but also their medical care and treatment. The health impacts arising from this framework will illustrate how scapegoating can lead to worsening mental and physical health, social isolation, and create barriers to treatment, which ultimately perpetuate the cycle of addiction that create public health challenges (e.g., drug-related deaths). The ensuing discussion will show how the addict is a symptom of capitalism and colonialism before it, sustaining it as well as serving as a convenient distraction from the systematic problems and illustrating the brutal realities of biopolitical power and its inherent contradictions. Only by understanding the broader socio-cultural and political implications of addiction within the context of late capitalism can we start to reduce stigma and scapegoating and focus on addiction as a medical issue rather than a moral and/or criminal one; a key to improving health outcomes. Full article

Insurance companies need to calculate solvency capital requirements in order to ensure that they can meet their future obligations to policyholders and beneficiaries. The solvency capital requirement is a risk management tool essential for addressing extreme catastrophic events that result in a high number of possibly interdependent claims. This paper studies the problem of aggregating the risks coming from several insurance business lines and analyses the effect of reinsurance on the level of risk. Our starting point is to use a hierarchical risk aggregation method which was initially based on two-dimensional elliptical copulas. We then propose the use of copulas from the Archimedean family and a mixture of different copulas. Our results show that a mixture of copulas can provide a better fit to the data than an individual copula and consequently avoid over- or underestimation of the capital requirement of an insurance company. We also investigate the significance of reinsurance in reducing the insurance company’s business risk and its effect on diversification. The results show that reinsurance does not always reduce the level of risk, but can also reduce the effect of diversification for insurance companies with multiple business lines. Full article

Mainstream strategies for protecting wealth from inflation involve diversification into traditional assets like common stocks, gold, fixed-income securities, and real estate. However, a significant contributor to inflation has been the rising energy prices, which have been the main underlying cause of several past recessions and high inflation periods. Investments in distributed generation with solar photovoltaics (PV) present a promising opportunity to hedge against inflation, considering non-taxed profits from PV energy generation. To investigate that potential, this study quantifies the return on investment (ROI), internal rate of return (IRR), payback period, net present cost, and levelized cost of energy of PV by running Solar Alone Multi-Objective Advisor (SAMA) simulations on grid-connected PV systems across different regions with varying inflation scenarios. The case studies are San Diego, California; Boston, Massachusetts; Santiago, Chile; and Buenos Aires, Argentina. Historical inflation data are also imposed on San Diego to assess PV system potential in dynamic inflammatory conditions, while Boston and Santiago additionally analyze hybrid PV-battery systems to understand battery impacts under increasing inflation rates. Net metering credits vary by location. The results showed that PV could be used as an effective inflation hedge in any region where PV started economically and provided increasingly attractive returns as inflation increased, particularly when taxes were considered. The varying values of the ROI and IRR underscore the importance of region-specific financial planning and the need to consider inflation when evaluating the long-term viability of PV systems. Finally, more capital-intensive PV systems with battery storage can become profitable in an inflationary economy. Full article

In this study, we present a comprehensive analysis to examine the resilience of tourism in Vietnam since the Doi Moi period. Using an augmented Solow framework, data from 1986 to 2020, and the ARDL approach, we estimate the long-run and short-run effects, whilst accounting for model-specific structural breaks. To provide stronger validation and robustness of the results, we estimate eight models under four cases. We start with the base model, which includes tourism and capital (in per worker terms), and then augment it with factors that are carefully identified from the literature. The additional factors include urbanisation, financial development, trade openness, foreign direct investment (FDI), information and communication technology (ICT), and natural resources. We find that capital accumulation and tourism (in per worker terms) remain positive drivers of growth in all the estimations. Results from alternative models also highlight the pro-growth effects of urbanisation, financial development, and trade openness. A positive association between carbon emissions and economic growth is also noted, indicating the existing production–consumption setup, the pace of environmental harvesting, and the weak decoupling effects that could lead to negative externality in the long run. Factors like technology, natural resource rents, and FDI show negative effects on growth as well. Moreover, by examining the causality dynamics, the study further contributes to broader policy discussion. Hence, policies targeted to promote the growth process, and the advancement of the economy, should continue supporting capital accumulation, tourism development, urbanisation, financial development, and international trade. However, future economic policies should cautiously address emissions, natural resource use, and re-evaluate the gains from foreign direct investment (FDI) to ensure growth remains sustainable. With tourism and capital accumulation at the core of this study, the findings of this study are intended to generate deeper policy discussions on resource allocations and the need to harness and/or rely on contemporary sources of growth to promote the sustainable development of Vietnam. Full article