Search Results (34)

Addressing the urgent need for sustainable energy transitions in rural development while achieving the dual carbon goals, this study focuses on resolving critical challenges in agricultural photovoltaic (PV) applications, including land-use conflicts, compound energy demands (electricity, heating, cooling), and financial constraints among farmers. To tackle these issues, a dual-mode cost–benefit analysis framework was developed, integrating two distinct investment models: self-invested construction (SIC), where farmers independently finance and manage the system, and energy performance contracting (EPC), where third-party investors fund infrastructure through shared energy-saving or revenue agreements. Then, an integrated photovoltaic-storage agricultural greenhouse (PSAG) microgrid optimization model is established, synergizing renewable energy generation, battery storage, and demand-side management while incorporating operational mode selection. The proposed model is validated through a real-world case study of a village agricultural greenhouse in Gannan, China, characterized by typical rural energy profiles and climatic conditions. Simulation results demonstrate that the optimal system configuration requires 27.91 kWh energy storage capacity and 18.67 kW peak output, with annualized post-depreciation costs of 81,083.69 yuan (SIC) and 74,216.22 yuan (EPC). The key findings reveal that energy storage integration reduces operational costs by 8.5% compared to non-storage scenarios, with the EPC model achieving 9.3% greater cost-effectiveness than SIC through shared-investment mechanisms. The findings suggest that incorporating an energy storage system reduces costs for farmers, with the EPC model offering greater cost savings. Full article

The University of Utah Clinical Innovation Fellowship models novel partnerships between third-party payers, clinical practices, and academia. While healthcare costs continue to increase unabated and physician burnout leads to provider shortages, this fellowship focuses on both crises by training pharmacists to establish new practices in ambulatory clinic spaces using funding provided by third-party payers. Not only does this fellowship represent a future in which pharmacists are able to address third-party payers’ need to reduce healthcare costs and clinics’ need to address provider shortages, it also successfully trained fellows to pursue jobs in ambulatory care and academia. Payers, clinics, providers and patients all expressed a high degree of satisfaction with the work of the fellows. In multiple clinics where fellows established new pharmacy services, those services led directly to new job approvals funded by the clinics themselves. The purpose of this paper is to serve as a model by which fellowship programs elsewhere can be designed, as well as to show that partnerships between ambulatory clinics, payers, and pharmacists are both sustainable and beneficial to all parties including, most importantly, the patients who receive better care for their complex chronic disease states. While this paper is descriptive in nature, work is ongoing to objectively measure the impact of the fellows on patients, providers, and third-party payers. A sampling of outcomes is presented, describing the impact of the pharmacist fellows’ efforts to improve medication management in primary care. Even with limited objective measures of success, we are able conclude that over the past 3 years, the fellowship has accomplished its aim of preparing fellows for future roles in ambulatory care, practice design, and academia while also demonstrating that a funding model aligning payers, clinics, and academia is sustainable. Full article

This article advocates smart mixes of mechanisms of post-disaster recovery in terms of boosting resilience and sustainability through liability rules, government intervention, insurance, and their combinations. Liability rules can provide compensation to victims and, in theory, also reduce disaster risks, while they have their limits in practice. The government widely intervenes in disaster compensation in many countries, but it faces challenges in how it can intervene fairly and efficiently, whether through informal channels, such as ad hoc charity, or structured approaches, such as compensation funds. As governments may struggle to provide efficient and effective compensation ex post, insurance may offer proactive solutions with models of first-party catastrophe insurance and third-party liability insurance ex ante. Where market failure, liability failure, and government failure may all arise, a smart mix of mechanisms is often preferable from a law and economic perspective, rather than relying solely on one framework. However, upon examining empirical evidence regarding the effectiveness of these instruments in China, the UK, France, Germany, and Turkey, it becomes apparent that a mix of mechanisms is not always applied in an effective manner. Models of mandatory comprehensive disaster insurance, and Public–Private Partnership (PPP), which both receive government intervention as a last resort to the market and liability failures, can reach the goal of more effective compensation for disaster victims, risk prevention and resilience when faced with disaster recovery, and should therefore be substantially implemented beyond the current levels. To be clear, the proposed mix of solutions mainly focuses on legal and economic dimensions which are rather limited, ignoring, for example, building codes for structures and physical interventions. Full article

Carbon emission reduction is an important issue for sustainable development. The logistics industry is a key area for carbon emission reduction. The modern logistics supply chain includes logistics parks (fourth-party logistics, 4PL) and small, medium and micro logistics enterprises settled in the parks (third-party logistics, 3PL). Facing the pressure of the need for sustainable development, 3PL enterprises need to invest a lot of money in green transformation. However, 3PL enterprises are subject to serious financial constraints. In order to break the capital constraints, 3PL enterprises can raise funds from banks or from 4PL financing. Under the carbon quota policy, the government can regulate the 4PL or the 3PL. Therefore, this paper uses the Stackelberg game model to build a green financing strategy model of small and medium-sized logistics enterprises considering different supervision methods under carbon quotas, explores the optimal emission reduction decision-making process of small and medium-sized logistics enterprises, and provides solutions to the financing problems of small and medium-sized logistics enterprises in realizing sustainable development. The study found that the decisions of enterprises under different governmental supervision methods are affected by carbon quotas, and the government’s supervision of 3PL is more conducive to carbon emission reduction; in this scenario, the 4PL financing strategy is more likely to be adopted compared with bank financing, because 4PL charge lower service fees, thus encouraging 3PL to increase their low-carbon investment. Finally, this paper puts forward two different carbon emission supervision methods and considers the green financing services of 4PL; this provides references for government supervision and the sustainable development strategies of logistics enterprises. Full article

This research investigates the connection between dividend policy, third-party funds, financial performance, and company value, with a focus on IT Innovation as a moderating factor. This research was conducted using a quantitative approach, utilizing Commercial Banks listed on the Indonesia Stock Exchange categorized as BUKU 4 Banks during the period of 2016–2022. This study employed Partial Least Squares (PLS) analysis with WarpPLS 6.0 software as the tool for data analysis. This research concludes that dividend policy does not significantly impact financial performance and company value, while third-party funds have a significant positive effect on both financial performance and company value. Although dividend policy does not directly affect company value, its impact may occur through the mediation of financial performance. Additionally, IT Innovation serves as a moderating factor that strengthens the positive relationship between third-party funds and financial performance towards company value. The novelty of this research lies in the development of a more comprehensive model or concept regarding dividend policy, third-party funds, financial performance as a mediating variable, and company value when considering IT Innovation as a moderating variable. Full article

Since their birth in the 1990s, social enterprises, as a kind of third-party organization with the attributes of both a not-for-profit entity and a profit-making enterprise, have played a significant role in the socio-economic development of cities, in particular those facing the challenge of shrinking. But why are social enterprises so deeply embedded in the regeneration process of shrinking cities, and how do they promote their multi-dimensional revitalization? In order to answer these questions, this paper presents a case study on Shimizusawa in Japan based on a literature review and field research. In line with the embeddedness and institution–function–instrument theories, it reviews the revitalization of Shimizusawa by involving a social enterprise in the adaptive reuse of industrial heritage sites and the development of industrial tourism, analyzes the establishment process and organizational characteristics of this social enterprise, and summarizes the four major experiences of its practice—that is, the governance structure of two types of institutions and two types of functions, the planning for both profitable and non-profitable activities, the operation of both for-profit and not-for-profit businesses, and the fund management of leveraging multiple parties to raise funds and reinvesting the profits locally. The extensive support provided by the Shimizusawa Social Enterprise that creates not only economic value but also social value justifies the significant role of social enterprises in the revitalization of shrinking industrial areas. This case study, together with its analytical framework, may serve as a meaningful reference for the revitalization of shrinking industrial areas in other parts of the world. Full article

One factor affecting entrepreneurial success at the small-business start-up level is the impact on family life. This study examines the effects of intermingling financial resources on the quality of life of families operating businesses in South Korea. Based on the Global Entrepreneurship Monitor 2022 assessment, which ranks South Korea 9th out of 51 economies, South Korea emerges as a promising area for scholarly research in this area. The analysis results are as follows: First, when financial intermingling occurs (when family and business finances are merged to some degree), entrepreneurial stress was found to be higher. Second, financial intermingling between family funds and business finances increased entrepreneurial stress by impairing the work–family balance. Third, when one spouse is more dedicated to supporting start-ups, entrepreneurial stress caused by the pressure to use family funds as business finances is greater. As small-business start-ups often require creative means to generate primary financing, resource exchanges between families and businesses may sometimes be a regrettable necessity. However, if the potential downsides of resource exchange are ignored, and resource exchange frequently occurs over a long period of time, it can place significant stress on all parties and may adversely affect the sustainability of a family business. Full article

As competition in the cross-border logistics-service market intensifies and demand rises, enterprises with third-party logistics (3PL) combine logistical and financial services to provide comprehensive services. This study considers a secondary supply chain consisting of a cross-border e-commerce enterprise and a 3PL enterprise. When cross-border e-commerce enterprises lack funds, 3PL enterprises can provide them with inventory pledge loans. Thus, we establish a Stackelberg game model between the abovementioned parties. We consider the stochastic fluctuation of exchange rate and demand, establish a combined decision model of the logistics-service level and financial service pledge rate of the 3PL enterprise when logistics services affect offshore market demand, and prove the existence of an optimal solution. Studies have shown that the optimal logistics-service level and pledge rate increase with an increase in import tariffs and logistics sensitivity coefficients in offshore markets. Meanwhile, they decrease with an increase in the capability coefficient of 3PL enterprises, exchange rate fluctuation, default rate, and price sensitivity factor in offshore markets. In addition, the more capable 3PL enterprises are, the greater the expected profitability of the entire supply chain. We also utilize authentic data to verify the abovementioned inference and establish its validity. Full article

Competition is a core feature of science and has for some time also been viewed by institutions in the higher education sector, as well as the state, as an incentive to produce scientific output. Due to scarce financial resources third-party funding plays an increasingly important role. However, the race for the coveted grants also has its downsides and can lead to a loss of efficiency. To advance the discussion concerning grant competition we present a rent-seeking model that helps to understand the crucial factors influencing overall welfare. We show that the extent of the increase in productivity of independent research triggered by the grant competition, the extent of administrative expenses and the productivity of the research financed by the grant are decisive. Our main implications for policy-makers and university managers are that competition for third-party funding brings positive and negative effects and therefore, for the individual situation of the university, it has to be carefully considered whether scarce resources are invested in applications and that grant procedures should be designed in such a way that both a Matthew effect and a path-dependency effect are avoided. Full article

Environmental pollution has become a serious problem in China due to the development of industrialization and urbanization since the reform policies and opening of the economy. Nowadays, ENGOs function as a third party for environmental protection through various awareness and bargaining activities. This study aims to analyze the role of ENGOs in environmental bargaining (EB) and the influencing factors by combining the EB theories. A structural equation model of ENGOs participation in EB was established to compare the role of ENGOs in bargaining the “Kunming PX incident” and the “Nujiang dam incident” in Yunnan, China. The findings show that complex powers and interests play a vital role during EB. The relationship network, media, and human resources are among the most significant factors influencing the role of ENGO out of all the other factors such as funding, openness, knowledge, scale and experience. The strength of ENGO relationship network is crucial for solving environmental problems. This study also suggests that in order for ENGOs to effectively engage in EB, they should be placed in the proper context in the negotiating process. It is necessary to set up efficient public involvement platforms and processes for effective EB. Full article

In recent years, due to the slowdown of the global economy and the instability of the stock market and real estate market, the art market has gradually become the third-largest investment market after the former two. As more and more funds flow into the art market, the two seemingly unrelated industries, art, and finance have increasingly close cooperation due to the growing prosperity of the art market. As a very important part of the process of art financialization, the development of art banks has also received extensive attention from all walks of life. In addition, blockchain, as a technology to jointly maintain reliable databases through trustlessness and decentralization, has grown rapidly in recent years, and is gradually applied in various fields. The advantages of blockchain technology are decentralization, anonymity, immutability, and traceability of stored information. The proposed scheme applies the characteristics of blockchain technology to Art Bank’s art rental system, and will have the following advantages: the use of Hyperledger technology, various art banks being merged into an alliance, and information among alliance members being shared, which is convenient for tenants to comprehensively query a single item. Using blockchain technology, in an environment where there is no central authority, under the premise of preventing the tampering of artwork-related information, ensures that the detailed information of the artwork is shared. Traditional leasing agreements can be compiled into smart contract leasing contracts to automatically run and manipulate data. The proposed protocol satisfies the following security requirements: identities’ mutual authentication, non-repudiation between every two parties, and other major security requirements based on blockchain. When a dispute arises, our proposed scheme also has an arbitration mechanism to clarify responsibilities. Full article

Under extended producer responsibility (EPR) regulations, trade-in programs allow manufacturers to play a vital role in recycling. Simultaneously, third-party recyclers (TPRs) can use their recycling network to compensate for manufacturers having only a single recycling channel, which increases the competition between them. To study whether companies should authorize TPRs, we constructed and analyzed a Stackelberg game model with trade-in programs under EPR regulations by focusing on three different closed-loop supply chain (CLSC) structures and differentiating consumer categories. The analytical results showed that when the government does not act as the decision maker, the optimal product selling price of the manufacturer does not change under each strategy. Otherwise, the manufacturer’s decision is affected by the cost structure and amount of subsidy, as well as funds determined by the government under the optimal environmental benefit. Furthermore, when the residual value coefficient of the used products is high, manufacturers authorize TPRs to recycle used products. Full article

Intangible Culture Heritage (ICH) is defined as the collection of oral traditions and expressions such as epics, fairy tales, stories, arts, social practices, rituals and celebrations, events, knowledge, and practices related to nature and the universe, traditional medicine, folk medicine, traditional handcrafts, as well as personal experiences related to important historical events or cultural activities that shaped the historical and local identity. Under the UNESCO Convention for the Safeguarding of the ICH, nations are committed to developing inventories of ICH and working with local communities, groups, and individuals to preserve these traditions. In this paper, a platform is introduced that facilitates the collection of intangible ICH data, the formation of story-based narratives, and their presentation to the public via a web and mobile application, which offers Augmented Reality (AR) experiences. The platform aims to support the formation of user communities sharing common interests and to provide them with the appropriate tools for collecting pieces of ICH. Collected ICH resources and created narratives are modeled using semantic web technologies so that information can be perceived by third-party systems too. Furthermore, towards the dissemination of the platform, a real-world use case took place on the island of Rhodes focusing on the recent history of the island between 1912 and 1948 (WWII). The platform was implemented to support the goals of the project InCulture, funded by the EPAnEK Greek national co-funded operational program “Competitiveness Entrepreneurship and Innovation”. Full article

Over time, more and more hotels have begun to include sustainability policies into their operations management. Hotels go green for a variety of reasons, including cost savings, public funding, staff commitment, public scrutiny, investor relations, and general societal good. However, one of the primary motivations for hotels to go green is to respond to rising consumer awareness of environmental issues. Indeed, consumers are becoming increasingly aware of hotels’ environmental impact and seem to appreciate hoteliers’ efforts towards sustainability, enhancing customer satisfaction and contributing to the formation of positive behavioral intentions and indirectly increasing firms’ competitiveness. By reason of that situation, many hotels started to introduce green practices in a proactive manner, with the double goal to involve green consumers and to improve their economic performance. Third-party verified eco-labels ensure that hotels meet environmental performance criteria and provide reliable communication to their customers in this context. We propose a conceptual framework to investigate whether green practices implemented by Italian “Legambiente Turismo” certified hotels contribute significantly to the formation of guests’ positive behavioral intention toward green hotels and the importance of green communication on guest attitude and behavior, starting with a review of the literature on eco-labelled hotels. To test the hypotheses, a survey of visitors from two Italian hotels with the ecolabel was undertaken, and Partial Least Square Structural Equation Modelling (PLS-SEM) was used. The PLS-SEM analysis leads to accepting eight out of the eleven hypotheses tested. Results from the model testing show the role played by guest environmental concern in influencing guests’ perception of hotels’ green communication and the role of the latter in influencing guest perception of hotel green practices. The findings of the study are useful for hotel managers and decision-makers because they clarify the relevance of environmental communication and guest environmental awareness in visitor recognition of hotels’ environmental efforts. The study also confirms the link between green practices implementation and increased market awareness and loyalty to green hotels. Full article

The rapid development of Internet finance has impacted traditional investment patterns, and Internet money funds (IMFs) are involved extensively in finance. This research constructed a long short-term memory (LSTM) neural network model to predict the return rates of IMFs and utilized the value-at-risk (VaR) and liquidity-adjusted VaR (La-VaR) methods to measure the IMFs’ risk. Then, an objective programming model based on prediction and risk assessment was established to design optimal portfolios. The results indicate the following: (1) The LSTM model results show that the forecast curves are consistent with the actual curves, and the root-mean-squared error (RMSE) result is mere 0.009, indicating that the model is suitable for forecasting data with reliable time-periodic characteristics. (2) With unit liquidity cost, the La-VaR results match the actuality better than the VaR as they demonstrate that the fund-based IMFs (FUND) have the most significant risk, the bank-based IMFs (BANK) rank 2nd, and the third-party-based IMFs (THIRD) rank 3rd. (3) The programming model based on LSTM and the La-VaR can meet different investors’ preferences by adjusting the objectives and constraints. It shows that the designed models have more practical significance than the traditional investment strategies. Full article