Search Results (21)

Electricity distribution systems face increasing challenges due to demand growth, regulatory requirements, and the integration of distributed generation. In this context, distribution companies must make strategic and well-supported investment decisions, particularly in asset reinforcement actions such as reconductoring. This paper presents a multi-stage methodology to optimize reconductoring investments under load forecasting uncertainties. The approach combines a decomposition strategy with Monte Carlo simulation to capture demand variability. By discretizing a lognormal probability density function and selecting the largest loads in the network, the methodology balances computational feasibility with modeling accuracy. The optimization model employs exhaustive search techniques independently for each network branch, ensuring precise and consistent investment decisions. Tests conducted on the IEEE 123-bus feeder consider both operational and regulatory constraints from the Brazilian context. Results show that uncertainty-aware planning leads to a narrow investment range—between USD 55,108 and USD 66,504—highlighting the necessity of reconductoring regardless of demand scenarios. A comparative analysis of representative cases reveals consistent interventions, changes in conductor selection, and schedule adjustments based on load conditions. The proposed methodology enables flexible, cost-effective, and regulation-compliant investment planning, offering valuable insights for utilities seeking to enhance network reliability and performance while managing demand uncertainties. Full article

The purpose of this paper is to analyze how China’s outward foreign direct investment (OFDI), driven by different motivations, affects the bilateral global value chain (GVC) relationship between the home country (China) and host countries, evaluating both bilateral GVC trade value and relative GVC positions. Employing the OECD Trade in Value Added (TiVA) database combined with Chinese listed firm data, we found the following results: (1) Strategic asset-seeking OFDI strengthens the GVC relationship between China and host countries while enhancing China’s GVC position relative to host countries. (2) Efficiency-seeking OFDI increases the domestic value-added exported from host countries to China but does not improve China’s relative GVC position. (3) Natural resource-seeking OFDI enhances bilateral GVC trade volumes but has no significant impact on the relative GVC positions of China and host countries. (4) China’s OFDI, not driven by these motivations, generates a trade substitution effect between home and host countries. We also examined the heterogeneity of these effects. Our findings suggest that China’s OFDI fosters equitable and sustainable international cooperation, supports mutually beneficial GVC trade and host-country economic growth, and therefore, progresses toward Sustainable Development Goal (SDG) 8. Full article

Institutional investors increasingly value alternative assets in strategic asset allocation, with private debt emerging as a key asset class. However, its shortage of market history has hindered the development of standardized proxy benchmarks. For that, many institutional investors still do not recognize or manage private debt as a distinct asset class. Thus, this study aims to develop an optimized benchmark that reflects the unique characteristics of private debt, thereby contributing to establishing private debt as an independent investment asset class for strategic asset allocation among institutional investors. This study seeks to address this gap by constructing a proxy benchmark for the Preqin private debt index, which, despite its comprehensive market coverage, has a three-month reporting delay. This study employs quarterly performance data for private debt indices, spanning 31 December 2006 to 31 March 2023, and is sourced from Bloomberg and the index providers’ websites. Using regression analyses with timely asset-based indexes, the research develops a multivariate model that integrates multiple indexes, demonstrating superior tracking performance compared to existing methods. The findings provide a practical framework for improving the recognition, management, and allocation of private debt in institutional portfolios, addressing the need for reliable and timely performance metrics in this growing asset class. Full article

Bridges are assets in every society, and their deterioration can have severe economic, social, and environmental consequences. Therefore, implementing effective asset management strategies is crucial to ensure bridge infrastructure’s long-term performance and safety. Roadmaps can serve as valuable tools for bridge asset managers, helping bridge engineers make informed decisions that enhance bridge safety while maintaining controlled life cycle costs. Although some bridge asset management roadmaps exist, such as the one published by the United States Federal Highway Administration (FHWA), there is a lack of structured research roadmaps that are both region-specific and adaptable as guiding frameworks for similar studies. For instance, the FHWA roadmap cannot be universally applied across diverse regional contexts. This study addresses this critical gap by developing a research roadmap tailored to Idaho, USA. The roadmap was developed using a three-phase methodological approach: (1) a comprehensive analysis of past and ongoing Department of Transportation (DOT)-funded research projects over the last five years, (2) a nationwide survey of DOT funding and research practices, and (3) a detailed assessment of Idaho Transportation Department (ITD) deficiently rated bridge inventory, including individual element condition states. In the first phase, three filtering stages were implemented to identify the top 25 state projects. A literature review was conducted for each project to provide ITD’s Technical Advisory Committee (TAC) members with insights into research undertaken by various state DOTs. Moreover, in the second phase, approximately six questionnaires were designed and distributed to other state DOTs. These questionnaires primarily covered topics related to bridge research priorities and funding allocation. In the final phase, a condition state analysis was conducted using data-driven methods. Key findings from this three-phase methodological approach highlight that ultra-high-performance concrete (UHPC), bridge deck preservation, and maintenance strategies are high-priority research areas across many DOTs. Furthermore, according to the DOT responses, funding is most commonly allocated to projects related to superstructure and deck elements. Finally, ITD found that the most deficient elements in Idaho bridges are reinforced concrete abutments, reinforced concrete pile caps and footings, reinforced concrete pier walls, and movable bearing systems. These findings were integrated with insights from ITD’s TAC to generate a prioritized list of 23 high-impact research topics aligned with Idaho’s specific needs and priorities. From this list, the top six topics were selected for further investigation. By adopting this strategic approach, ITD aims to enhance the efficiency and effectiveness of its bridge-related research efforts, ultimately contributing to safer and more resilient transportation infrastructure. This paper could be a helpful resource for other DOTs seeking a systematic approach to addressing their bridge research needs. Full article

This paper introduces the Integrated Model for Sustainable Development (IMSD), a theory-driven governance framework that embeds Corporate Diversity Responsibility (CDR) into climate and energy policy to advance systemic equity, institutional resilience, and inclusive innovation. Grounded in Institutional Theory, the Resource-Based View (RBV), and Intersectionality Theory, IMSD unifies fragmented sustainability efforts across five pillars: Climate Sustainability, Social Sustainability (CDR), Governance Integration, Collaborative Partnerships, and Implementation and Monitoring. Aligned with SDGs 7, 10, and 13, IMSD operationalizes inclusive leadership, anticipatory adaptation, and equity-centered decision-making. It addresses the compounded climate vulnerabilities faced by women and marginalized groups in the Global South, integrating insights from Indigenous resilience and intersectional adaptation strategies. Unlike conventional CSR or ESG models, IMSD institutionalizes diversity as a strategic asset and governance principle. It transforms DEIB from symbolic compliance into a catalyst for ethical leadership, legitimacy, and performance in turbulent environments. The model’s modular structure supports cross-sector scalability, making it a practical tool for organizations seeking to align ESG mandates with climate justice and inclusive innovation. Future empirical validation of the IMSD framework across diverse governance settings will further strengthen its applicability and global relevance. IMSD represents a paradigm shift in sustainability governance—bridging climate action and social equity through theory-based leadership and systemic institutional transformation. Full article

This paper presents a robust multi-period portfolio optimization framework that integrates interval analysis, entropy-based diversification, and downside risk control. In contrast to classical models relying on precise probabilistic assumptions, our approach captures uncertainty through interval-valued parameters for asset returns, risk, and liquidity—particularly suitable for volatile markets such as cryptocurrencies. The model seeks to maximize terminal portfolio wealth over a finite investment horizon while ensuring compliance with return, risk, liquidity, and diversification constraints at each rebalancing stage. Risk is modeled using semi-absolute deviation, which better reflects investor sensitivity to downside outcomes than variance-based measures, and diversification is promoted through Shannon entropy to prevent excessive concentration. A nonlinear multi-objective formulation ensures computational tractability while preserving decision realism. To illustrate the practical applicability of the proposed framework, a simulated case study is conducted on four major cryptocurrencies—Bitcoin (BTC), Ethereum (ETH), Solana (SOL), and Binance Coin (BNB). The model evaluates three strategic profiles based on investor risk attitude: pessimistic (lower return bounds and upper risk bounds), optimistic (upper return bounds and lower risk bounds), and mixed (average values). The resulting final terminal wealth intervals are [1085.32, 1163.77] for the pessimistic strategy, [1123.89, 1245.16] for the mixed strategy, and [1167.42, 1323.55] for the optimistic strategy. These results demonstrate the model’s adaptability to different investor preferences and its empirical relevance in managing uncertainty under real-world volatility conditions. Full article

This study evaluated the efficiency performance of the world’s top ten seed-producing companies from 2016 to 2022, exploring the interplay between asset scale, technological innovation, and resource allocation in the context of the third global wave of seed industry mergers and growing external uncertainties. Against the backdrop of rising sustainability demands and low-carbon transitions, optimizing firm-level efficiency has become central in balancing economic performance with environmental responsibility. Using Data Envelopment Analysis (DEA) and the Malmquist Productivity Index (MPI), in this study, we conducted a comprehensive static and dynamic assessment of firm efficiency. The results reveal considerable heterogeneity across firms and over time. Corteva’s overall technical efficiency (OTE) rose from 0.57 in 2018 to 0.91 in 2022, reflecting successful post-merger integration and digital innovation. DLF achieved an OTE = 1.00 in 2020 and 2022, indicating stable specialization on an optimal scale. In contrast, Bayer’s OTE dropped from 0.72 in 2016 to 0.36 in 2022, underscoring the challenges of resource integration after large-scale mergers. In terms of productivity dynamics, Corteva exhibited a sharp EFFCH surge to 1.7041 in 2018–2019, reflecting a phase of rapid efficiency recovery following its post-merger restructuring. Syngenta also demonstrated strong managerial improvement, with its EFFCH reaching 1.3759 in 2017–2018 and maintaining positive momentum thereafter. Over the entire period, Syngenta recorded the highest cumulative growth in efficiency (up 40.76%), while Bayer showed a significant decline (−28.33%), highlighting contrasting integration outcomes. On the technological front, DLF stood out with a TECHCH increase of 34.67%, suggesting that innovation remained the key driver of long-term productivity gains, particularly among firms that avoided aggressive mergers. These findings emphasize the importance of aligning technological investment with scalable and resilient operational structures to achieve sustainable efficiency. This study offers empirical guidance for policymakers and strategic planners seeking to strengthen the seed industry’s role in green transformation, while also providing a framework applicable to other capital-intensive sectors undergoing structural transition. Full article

Breakthrough innovations present both opportunities and challenges for firms navigating unpredictable technological and market dynamics, which is significant to firms’ sustainable development. However, the impact of strategic alliances on breakthrough innovations remains contested, and the underlying mechanisms are yet to be fully clarified. Drawing on ambidexterity theory and profiting from innovation (PFI) theory, this study investigates the relationships among ambidextrous (exploratory vs. exploitative) alliances, complementary assets, and firms’ breakthrough innovations. By analyzing 279 questionnaire responses from Chinese firms, we demonstrate that both exploratory and exploitative alliances, alongside complementary assets, significantly enhance breakthrough innovations. Furthermore, complementary assets play a complete mediating role between exploratory alliances and breakthrough market innovations. In addition, complementary assets also play a partial mediating role between exploratory alliances and breakthrough technological innovations, as well as between exploitative alliances and both breakthrough technological and market innovations. These findings advance ambidextrous theory by delineating the ambidextrous roles of alliances, extend PFI theory through the integration of the mediating roles of complementary assets, and offer actionable insights for managers seeking to leverage ambidextrous alliances for breakthrough innovation success. Full article

Recognizing the critical role of oil and gas resources as strategic assets and acknowledging the increasing emphasis on green development and social responsibility driven by international energy agreements and the “dual carbon” strategy, this study addresses the urgent need for a robust employee evaluation framework within China’s petroleum sector. While existing systems often prioritize competence-based indicators, they frequently overlook the crucial aspect of employee Moral Quotient (MQ). This research focuses on developing and validating a holistic, scientifically grounded, multi-dimensional, and dynamic MQ evaluation index system tailored specifically for Chinese petroleum enterprises. The study employed a mixed-methods approach, integrating a comprehensive literature review, semi-structured interviews with industry experts, and robust quantitative techniques, including the Analytic Hierarchy Process (AHP) and the entropy weight method. A two-round Delphi study, involving 18 experts from six provinces across China, ensured broad representation and facilitated the construction of the evaluation index system and the determination of indicator weights. The Delphi process achieved a high degree of expert consensus, evidenced by a 100% questionnaire response rate in both rounds, expert authority coefficients of 0.851 and 0.879, respectively, and Kendall’s coefficient of concordance of 0.243 and 0.247 (p < 0.01), respectively, demonstrating strong reliability and scientific validity. The resulting MQ evaluation index system comprises eight first-level indicators and thirty-three s-level indicators, encompassing key dimensions of employee morality relevant to the petroleum industry. This comprehensive system provides a robust and objective tool for employee selection, training, performance evaluation, and career development within Chinese petroleum enterprises, supporting informed decision-making in human resource management and fostering a culture of ethical conduct and sustainable development. Furthermore, the developed framework offers valuable insights and serves as a potential model for petroleum enterprises and other resource-intensive industries globally seeking to integrate MQ assessment into their human capital management strategies. Full article

Ensuring the safety and reliability of bridges through the implementation of cost-effective asset management strategies is crucial for sustaining a resilient transportation infrastructure network. Thus, the utilization of structural health monitoring (SHM) was investigated to enhance the operation and maintenance of bridges, with a focus on best practices and strategic implementation. Specifically, this study aimed to explore methods that leverage SHM to enhance bridge-asset management practices. The existing literature on bridge asset management was used as a foundation for identifying the value of SHM in bridge operation and maintenance. While the general literature on SHM and asset management is extensive, very few studies effectively linked these two domains. By conducting a comprehensive review of relevant studies and successful integration cases, the results of this study offered the appropriate application of SHM in bridge asset management. The processes observed were then integrated into a strategic framework, serving as a practical guide for managers seeking to implement SHM effectively in bridge asset management, particularly during the operation and maintenance phase of the bridge lifecycle. Full article

In the new normal era, digital nomads are poised to play a pivotal role in driving innovation and revitalizing local economies. Their unique lifestyle and skillset can contribute to positive social and cultural changes, making them valuable assets in shaping the future of work and society. This study explores the characteristics of digital nomads based on remote work and seeks policy ways to attract digital nomads to tourist attractions. Focus group interviews (FGIs) were intended to establish policies related to digital nomads’ tourist sites in the new normal era and to provide implications for strategies to revitalize digital nomads. Each FGI’s panel consists of eight people working for working-level officials, government officials, and public organizations, and it was held three times in about two months, from January to February 2023. FGIs consist of four areas: ‘activating local tourism’, ‘digital transformation’, ‘development of wellness contents’, and ‘creating a settlement environment’. Moreover, eight strategic topics and 24 strategic tasks were derived from each strategic category. Seeking regional attraction strategies for digital nomads is meaningful in responding to paradigm shifts in the new normal era and exploring sustainable local ecosystems. Full article

Strategic asset seeking foreign direct investment has undergone tremendous growth over the past decade. This paper first attempts to evaluate the location choice of such investments in Europe. We find that Chinese companies target strategic assets in Europe. The paper then moves to understand the efficacy of these investments in terms of the creation of strategic assets in the Chinese parent company. Our results show the intangible assets of Chinese domestic parent firms significantly increase in the wake of their investments. For greenfield investments, there is a longer time-lag in creation of intangible strategic assets than for acquisitions. However, greenfield investments result in a larger increase in intangible asset creation than acquisition investments. Full article

Knowledge plays a pivotal role as a strategic asset for organizations that aim to improve and sustain competitive advantage. Despite the implementation of knowledge management systems to promote knowledge sharing, many employees exhibit knowledge-hiding behavior, deliberately withholding crucial information in the workplace. In this context, the current study aims to investigate the impact of knowledge-hiding behavior on entrepreneurial orientation (EO) within organizations. Specifically, we seek to explore how knowledge hiding influences employees’ inclination towards entrepreneurial behaviors such as innovation, risk-taking, and proactiveness. By examining the potential negative effects of knowledge hiding on entrepreneurial behaviors, we aim to identify barriers to innovation and risk taking in organizations. Furthermore, we examine the mediating role of factual autonomy in the relationship between knowledge hiding and entrepreneurial orientation. Understanding the mediating role of factual autonomy can provide valuable insights into the mechanisms through which knowledge hiding impacts entrepreneurial behavior. Additionally, we aimed to investigate the impact of knowledge hiding on organizational-level outcomes, specifically entrepreneurial orientation, and job autonomy. To investigate this phenomenon, we conducted a cross-sectional multilevel study involving 214 employees from 16 different companies in the Romanian business sector, including telecom, banking, retail, services, and IT&C. Our findings reveal that knowledge hiding has a significant impact on job autonomy and entrepreneurial orientation. The proposed model accounted for 45.9% of the variance in entrepreneurial orientation and 37.7% of the variance in job autonomy. These results have important implications for both theory and practice, highlighting the need for further exploration into how knowledge hiding impacts different aspects of organizational work design. The present examination serves as a valuable research platform for understanding the multidimensional irregularities within organizations and highlights the importance of addressing knowledge hiding behavior to foster a culture of innovation and risk-taking in organizations. Full article

The digital transformation of operation and maintenance (O&M) activities has been guiding the facilities management sector towards a strategic role focused on the performance of businesses and sustainable use of natural resources over assets’ lifecycles. Despite the application of information and communication technologies (ICTs), such as building information modelling (BIM) and the Internet of Things (IoT), demonstrating potential for improving such practices, evidence related to its implementation process from an FM professional’s perspective is still much needed to unlock billions of USD trapped in inefficient and fragmented processes. This research seeks such evidence by characterising current and potential applications of BIM and IoT-based solutions for FM, specifically on maintenance services. This exploratory research is based on a multiple case study where three universities’ FM sectors were investigated. Data collection and analysis included semi-structured interviews, focus groups, and inductive content analysis. By considering technology as a scaffold to enhance human activities, the investigation provided a deep understanding of technological, procedural, and policy issues in implementing BIM and IoT-based solutions in FM activities and their related benefits and limitations. Clarifying the necessary resources for such implementation could support FM sectors and organizations in justifying human and financial investments and planning the gradual digital transformation of services. Full article

Purpose: The objectives of this study are to (a) invest adaptively in the cultural assets which play a part in generating the cultural identity manifestations, (b) review a group of sustainable bottom-up-centred and/or circular economy-based projects (CHRISTA and Västra Götaland Regional Development Policy (SE); CLIC; Be.CULTOUR), and (c) strategically support the sustainable culture tourism process in Forsvik (a Swedish industrial heritage destination) by involving the local community members. Design/Methodology/Approach: The research was carried out in Forsvik as a circular governance model adopting a people-centred approach. The research qualitatively presents its review through a descriptive analysis of the aforementioned projects. In addition, the paper consists of two in-depth individual interviews with the key governmental decision makers, as well as the experience of the 1st author as a project leader. Findings: The results show a People–Public–Private Partnership approach, as a community-driven social innovation tool, that seeks to operationalize a strategic dynamic partnership mainly among three partners: (1) people or the host community, (2) the public sector, and (3) the private sector. Originality/Value: One of the contributions of this study is to develop a corporate committee valorising and emancipating the role of community engagement in circular governance providing a sustainable people-centred cultural tourism strategy. Full article