Search Results (353)

This study develops and applies the Financial Risk Meter (FRM) for Kuwait, a novel measure of systemic risk tailored for a commodity-dependent emerging economy. Using Lasso quantile regression, the FRM captures tail-event co-movements among key financial institutions, providing a robust indicator of systemic stress. This paper makes three primary contributions. First, it provides the first application of the FRM framework to an oil-exporting economy, identifying the distinct channels through which global financial shocks and commodity price volatility create systemic risk. Second, it quantitatively demonstrates the FRM’s superior performance in tracking financial stress compared to the benchmark Conditional Value-at-Risk (CoVaR) model. Third, it identifies the specific drivers of systemic risk in Kuwait, offering actionable insights for policymakers. Our findings show that the FRM effectively pinpoints periods of high financial distress, aligns with global risk indicators, and can enhance recession forecasting. By providing a clear and timely measure of systemic risk, this study offers a valuable tool for regulators to bolster financial stability and advance sustainable economic development in Kuwait and other resource-dependent nations. Full article

Background/Objectives: The COVID-19 pandemic profoundly disrupted the daily lives of children with neurodevelopmental disorders, particularly Autism Spectrum Disorder (ASD) and Attention-Deficit/Hyperactivity Disorder (ADHD). Lockdowns, therapy interruptions, and reduced access to educational and healthcare services significantly affected developmental progress and family functioning. This pilot study aimed to assess the long-term impact of the pandemic on children with ASD and ADHD in Northern Greece and to explore consequences for their families in the post-pandemic period. Methods: Parents or legal guardians of 72 children (ages 2–17 years) with confirmed diagnoses of ASD (n = 57) or ADHD (n = 15) participated. A structured 25-item questionnaire captured information on developmental, psychological, and social functioning, family well-being, therapy disruption, screen use, and access to online support. Data were collected across urban, semi-urban, and rural areas of Northern Greece over six months. Descriptive and inferential analyses were performed. Results: Most participants were boys (77.8%) and in primary school (73.6%). Common co-occurring conditions included learning difficulties (33.3%), anxiety (8.3%), and epilepsy (6.9%). Nearly half of families (45.8%) reported therapy reductions exceeding 70%, while 29.2% accessed online therapy, often with limited perceived effectiveness. New behavioral symptoms emerged in 45.8% of children, including irritability, anxiety, and emotional instability. Parental psychological distress was reported by 29.2% of caregivers. Screen time increased in over 90% of cases, and 87.5% of parents perceived the pandemic as negatively affecting their child. Financial strain was noted by 37.5% of families. Conclusions: The findings highlight the significant developmental, psychological, and social consequences of the COVID-19 pandemic for children with ASD and ADHD and their families. Service disruptions, unmet therapeutic needs, and increased caregiver burden emphasize the urgency of sustainable, flexible care models. Strengthening telehealth, integrating community-based interventions, and enhancing educational accommodations are essential for resilience in the post-pandemic era. Full article

Background: Perceived stress occurs when environmental demands are appraised as exceeding an individual’s coping resources, triggering emotional dysregulation and physiological hyperactivation with adverse mental and physical outcomes. University students are particularly vulnerable to psychological distress due to academic pressure, social transitions, and lifestyle changes. Despite increasing attention to mental health in higher education, data on perceived stress among Italian university students remain limited. This study aimed to assess stress profiles using the Italian Perceived Stress Scale—Revised (IPSS-R) and to explore associations with sociodemographic and academic variables. Methods: A multicenter cross-sectional study was conducted among 2.103 undergraduate and master’s students enrolled in Italian universities. Participants completed the 15-item IPSS-R, which measures three dimensions: general stress, coping, and academic stress. Sociodemographic and academic data were collected via a structured questionnaire. Non-parametric tests and Principal Component Analysis were employed to identify group differences and multivariate patterns. Results: Two principal components were retained through the principal component analysis, overall perceived stress (40.9% of the variance) and coping-related responses (13.7% of the variance). The mean total IPSS-R score was 30.6 (SD = 7.08, p < 0.001), reflecting moderate-to-high levels of perceived stress. Academic demands emerged as the predominant stressors. Higher stress levels were reported by female students, younger individuals, first-year undergraduates, and those enrolled in health sciences and STEM programs. Conversely, older students, postgraduate students, and those studying in Southern Italy demonstrated stronger coping abilities and lower academic stress. Students attending private universities reported elevated academic pressure, potentially due to heightened family and financial expectations. Conclusions: Italian university students experience substantial perceived stress, primarily driven by academic workload, performance expectations, and institutional pressure. Early identification using instruments such as the IPSS-R may enable targeted interventions to promote mental health and academic achievement in student support services, during triage, in wellness checks, and in psychoeducation. Full article

Municipalities are facing mounting fiscal pressures that contribute to financial distress, often resulting in reduced service delivery and economic instability. Despite extensive research on this topic, there is neither a framework nor established criteria to guide policymakers and practitioners in selecting appropriate models for financial distress prediction (FDP). This study employs a systematic review approach to identify key criteria for evaluating FDP models and proposes a framework to guide the selection of suitable models. Following PRISMA guidelines, 24 peer-reviewed papers published between 2000 and 2025 were identified through Google Scholar, Web of Science, ScienceDirect, Scopus, EBSCOhost, and ProQuest. The analysis revealed ten key criteria for evaluating FDP models in local government, which were organised into four overarching dimensions: performance, conceptual integrity, practical applicability, and contextual fit. Based on these insights, the study proposes a structured framework that assists practitioners in selecting the most appropriate FDP model. The framework enhances conceptual clarity, synthesises fragmented knowledge, and establishes a foundation for policy-relevant early warning systems to strengthen municipal financial management. Full article

As climate disasters intensify, their financial shockwaves increasingly threaten residential stability and the resilience of the U.S. mortgage market. While prior research links natural disasters to payment delinquency, far less is known about foreclosure—the terminal outcome of housing distress. We construct a novel property-level panel covering 55 flood, wildfire, and hurricane events, integrating transactional, mortgage, and insurance data. A difference-in-differences framework compares foreclosure rates for damaged parcels with nearby undamaged controls within narrowly defined hazard perimeters. Results show that flooding substantially increases foreclosure risk: inundated properties experience a 0.29-percentage-point rise in foreclosure likelihood within three years, with effects concentrated outside federally mandated flood-insurance zones. In contrast, wildfire and hurricane wind damage are associated with lower foreclosure incidence, likely reflecting standard insurance coverage and rapid post-event price recovery. These findings suggest that physical destruction alone does not drive credit distress; rather, insurance liquidity and post-disaster equity dynamics mediate outcomes. Policy interventions that expand flood insurance coverage, stabilize insurance markets, and embed climate metrics in mortgage underwriting could reduce systemic exposure. Absent such measures, climate-driven foreclosures could account for nearly 30% of lender losses by 2035, posing growing risks to both household wealth and financial stability. Full article

Artificial intelligence (AI) is of enormous significance for enhancing the resilience of the manufacturing industry chain, providing opportunities and momentum. We examine the impact of AI on the resilience of the manufacturing industry chain using a sample of listed manufacturing companies from 2011 to 2023. The results indicate that AI significantly improves the resilience of the manufacturing industry chain. Heterogeneity analysis reveals that the promoting effect of AI on manufacturing industry chain resilience is more pronounced in growth-stage enterprises, large-scale enterprises, enterprises in eastern regions, regions with high marketization levels, and financially distressed enterprises. Furthermore, mechanism tests indicate that AI enhances the resilience of the manufacturing industry chain by promoting firms’ ESG performance, facilitating knowledge spillovers, and increasing stock price synchronicity. The findings provide empirical evidence for the mechanisms and pathways to enhance the resilience of the manufacturing industry chain, offering insights into how AI can empower the high-quality development of China’s economy. Full article

Background: Infertility is a multifactorial condition that causes significant emotional distress and financial burden for couples. Despite advances in assisted reproductive technologies (ARTs), many patients experience recurrent implantation failure (RIF) or pregnancy loss. Intralipid, an intravenous lipid emulsion, has been proposed as an adjunctive therapy due to its immune-modulatory effects, particularly in reducing elevated natural killer (NK) cell activity, which may be associated with poor reproductive outcomes. This study evaluated the effect of intralipid infusion on pregnancy rates and miscarriage rates in women with recurrent implantation failure undergoing in vitro fertilization (IVF). Materials and Methods: This was a retrospective study of women who had suffered from recurrent implantation failure and underwent IVF between September 2023 and September 2024. A comparative group undergoing IVF but who did not have recurrent implantation failure matched for age was selected. Outcomes of clinical pregnancy, miscarriage and livebirth rates were compared in both groups. Results: A total of 113 women undergoing IVF were identified and 51 received intralipid. Intralipid was initiated at varying stages of the IVF process, a day before embryo transfer (ET) (18 or 35.3%), on the day of ET (20 or 39.2%) and after ET (13 or 25.5%). The clinical pregnancy rate was 44.2% in the treatment group compared to 29% in the comparator group (p < 0.05) while the miscarriage rates were 13.7% versus 11.3% (p > 0.05). Elevated NK cells were present in 65.4% of the patients who received intralipid, but the correlation between NK cell levels and pregnancy outcomes was weak (Spearman ρ = 0.032). No adverse effects were reported in any of the women. Conclusions: Intralipid infusion increased the successful pregnancy rates in women who had recurrent implantation failure during IVF. The successful pregnancy rate was significantly higher than that in those undergoing ART who had not suffered from RIF. These findings support several studies on the potential benefit and safety of intralipids in women undergoing ART, but the numbers remain small and more prospective studies are needed to confirm these findings Full article

Background/Objectives: Cancer remains a major public health concern in India, with the Northeast Region (NER) reporting the country’s highest incidence rates. In Meghalaya, a predominantly tribal state, cultural beliefs, financial hardship, and limited healthcare access significantly affect cancer diagnosis and treatment outcomes. This study explores the experiences and needs of cancer patients in Meghalaya, India, to inform culturally sensitive, patient-centred, and financially inclusive approaches to cancer care among tribal populations. Methods: A qualitative study was conducted among 19 participants (12 patients and 7 caregivers; in cases where patients were unable to communicate effectively due to physical weakness or treatment-related complications, their primary caregivers, those directly linked to the specific patients, were interviewed instead) receiving treatment at Civil Hospital, Shillong, between August and November 2023. In-depth interviews were conducted in Khasi, translated into English, and analysed thematically following COREQ guidelines. Results: Ten key themes emerged. Patients often attributed early symptoms to supernatural causes and sought traditional healers, delaying diagnosis. Many experienced fragmented care pathways, misinformation, and fear of treatment side effects. The financial burden was severe, with high out-of-pocket costs for travel, diagnostics, and medicines, despite partial relief through the Meghalaya Health Insurance Scheme. Communication about costs between patients and providers was limited, leaving families unprepared for the expenses. Emotional distress, loss of livelihood, and dependence on family support were common, while faith and spirituality served as major coping mechanisms. Conclusions: Cancer care in Meghalaya is shaped by intertwined cultural, economic, and systemic barriers. Strengthening culturally tailored health education, decentralised diagnostic services, structured financial counselling, and cost transparency can improve care delivery. Future research should adopt multi-centre, longitudinal approaches to guide equitable, patient-centred cancer policies in tribal and rural settings. Full article

Achieving gender diversity and women’s empowerment (SDG 5) is not only a social priority but also a key driver of sustainable financial resilience. This study investigates whether the presence of women on bank boards strengthens the stability of financial institutions in the Middle East and North Africa (MENA), where gender diversity remains limited yet is steadily growing. Using a balanced panel of 61 commercial banks across nine MENA countries from 2012 to 2020, we assess whether board gender diversity enhances the predictive performance of Early Warning Systems (EWSs) for bank distress. Applying a logit random-effects model, our results show that a higher proportion of female directors significantly lowers the probability of bank failure and improves EWS accuracy. Further analyses reveal that gender-diverse boards foster stronger governance by reducing operating costs, boosting profitability, and supporting higher capitalization and liquidity, indicating more prudent and risk-averse oversight. Robust tests using the Z-score and System Generalized Method of Moments (System-GMM) confirm these outcomes. Moreover, a non-linear pattern emerges: the stabilizing influence of women directors is most pronounced during financial crises but less evident in stable periods. These findings underscore the strategic value of women’s leadership in banking, offering insights for policymakers and regulators aiming to advance SDG 5 and promote resilient, inclusive financial systems. Full article

The rising demand for sustainability disclosure, the risks it entails, and the strategies firms employ to manage these risks represent a critical area of contemporary research. This research aims to investigate the impact of sustainability risk management (SRM) on a firm’s financial distress (FFD). In addition, it examines the influence of the firm’s financial performance as a moderator variable on this relationship. This research adapts a quantitative analysis to explore these relations based on a sample of 77 Saudi firms listed on the Tadawul stock exchange in 2023. It relies on the SRM score presented by Morningstar Sustainalytics, as it is considered one of the largest environmental, social, & governance (ESG) rating firms. While the direct relationship between SRM and FFD is statistically insignificant, the findings show a significant moderating effect of firm performance, especially for firms with medium SRM levels. This demonstrates the importance of organizational and contextual factors in the interplay between SRM and FFD. The research results have valuable insights for decision-makers in the Kingdom of Saudi Arabia by providing more understanding about the importance of adopting a comprehensive risk management framework that includes sustainability risks. Adapting sustainability practices and risk management becomes essential for Saudi firms. Therefore, managers in Saudi firms should consider the firms’ profitability when implementing SRM strategies, as these may not consistently contribute to stability across all financial conditions. Full article

This paper introduces and validates a comprehensive instrument designed to measure financial literacy, its underlying determinants, and to assess how factors such as planning affect financial vulnerability and fraud in Brazil. This work represents a crucial step toward achieving several Sustainable Development Goals (SDGs). The study utilizes a two-fold methodology. First, Confirmatory Factor Analysis (CFA) is used to validate a six-component model consisting of Financial Literacy, Vulnerability, Fraud, Cognitive Reflection, Crypto Literacy, and Planning. This analysis is followed by the development and interpretation of a Random Forest model, which was identified as the best-performing predictor in a comparison of seven machine learning algorithms. The CFA results showed that Financial Planning has a stronger negative correlation with Financial Vulnerability (−0.642) and Fraud (−0.375) than Financial Literacy does. This evidence was further supported by the machine learning analysis; analyses using both SHAP and LIME identified Financial Planning as the strongest predictor of financial vulnerability and fraud. The analysis further showed significant social inequalities in the developed models and identified the gender variable (female) as an important predictor of enhanced financial vulnerability. Converging evidence from both CFA and machine learning confirms that sound planning practices are more important than financial knowledge in reducing financial distress. Our findings provide a solid foundation for the development of inclusive public policy that promotes behavioral change, aiming to reduce systemic inequalities (SDG 10) and achieve sustainable economic stability (SDG 8), thereby supporting social goals and the Sustainable Development Goals. Full article

Underemployment in Australia represents a critical facet of precarious work, shaped not only by insufficient hours and skill underutilisation but also by care responsibilities and financial insecurity. Using data from the Household, Income and Labour Dynamics in Australia (HILDA) Survey, this study employed latent class analysis (LCA), a person-centred, model-based clustering method, to uncover hidden subgroups within the underemployed population. Previous studies identify different profiles, but few embed care burden and financial stress as core latent dimensions. This study extends latent class approaches by integrating multidimensional vulnerabilities into subgroup analysis. The LCA analysis revealed four distinct classes. These findings confirmed three hypotheses: (H1) Care burden is a core latent dimension of underemployment (Classes 1 and 2), (H2) economic insecurity is a second defining dimension (Class 3), and (H3) a mental health/social isolation subgroup exists (Class 4). Class 1 exhibits dual care burdens and high representation from culturally and linguistically diverse (CALD) backgrounds. Class 2, Parents with Children, forms the largest group and is defined by intensive childrearing and caregiving roles. Class 3, Financially Strained Undereducated, includes individuals with low educational attainment experiencing pronounced financial hardship. Class 4, Socially Isolated with Poor Mental Health, represents the smallest yet most disadvantaged group, characterised by severe psychological distress, lack of social support, and acute financial vulnerability. Together, these findings highlight the need for tailored policy responses for diverse experiences among the underemployed and reveal intersecting social and economic disadvantages. Full article

Background: In psychiatry, gambling is classified as an addiction-related disorder and is characterized by a persistent, problematic pattern of behaviour that leads to significant distress and functional impairment. This study aims to explore the prevalence, underlying motivations, and potential academic impact of gambling behaviours among medical students in Poland. Methods: An anonymous online survey was conducted among students from multiple medical universities across Poland. Participants completed a sociodemographic questionnaire and the South Oaks Gambling Screen (SOGS). Respondents who reported any past or current gambling activity were additionally asked about their motivations and potential academic consequences. Results: The study included 281 participants. Active or past gambling was reported by 55% of respondents, with men significantly more likely to gamble currently. Women were predominantly non-problem gamblers, whereas men more often scored within the “some problems” range on the SOGS. Motivations also differed: women emphasised financial gain, while men cited fun, socializing, and competition. Lottery and scratch cards were most popular overall, though men preferred skill-based and casino activities. Conclusions: Although participants showed relatively low levels of gambling involvement, their risk of developing pathological gambling was comparable to that of the general population. Gender influenced involvement in different gambling patterns. Full article

Background: Repeat induced abortion (defined as ≥two lifetime procedures) is becoming more common worldwide, yet its independent influence on women’s psychological health remains contested, particularly in settings where access to modern contraception is restricted. Objectives: This review sought to quantify the burden of depression, anxiety, stress, and generic quality of life (QoL) among women with repeat abortions and to determine how barriers to contraceptive access alter those outcomes. Methods: Following the preregistered PRISMA-2020 protocol, PubMed, Embase and Scopus were searched from inception to 31 June 2025. Results: Eight eligible studies comprising approximately 262,000 participants (individual sample sizes up to 79,609) revealed wide variation in psychological morbidity. Prevalence of clinically significant symptoms ranged from 5.5% to 24.8% for depression, 8.3% to 31.2% for anxiety, and 18.8% to 27% for perceived stress; frequent mental distress affected 12.3% of women in neutral policy environments but rose to 21.9% under highly restrictive abortion legislation. Having three or more abortions, compared with none or one, increased the odds of depressive symptoms by roughly one-third (pooled OR ≈ 1.37, 95% CI 1.13–1.67). Contextual factors exerted comparable or stronger effects: abortions sought for socioeconomic reasons elevated depression odds by 34%, unwanted disclosure of the abortion episode increased depressive scores by 0.62 standard deviations, and low partner support raised them by 0.67 SD. At the structural level, every standard deviation improvement in a state’s reproductive rights index reduced frequent mental distress odds by 5%, whereas enactment of a near-total legal ban produced an absolute increase of 6.8 percentage points. QoL outcomes were less frequently reported; where measured, denied or heavily delayed abortions were associated with a 0.41-unit decrement on a seven-point life satisfaction scale. Conclusions: Psychological morbidity after abortion clusters where legal hostility, financial hardship, or interpersonal coercion constrain contraceptive autonomy while, in comparison, the mere number of procedures is a weaker predictor. Interventions that integrate stigma-free mental health support with confidential, affordable, and rights-based contraception are essential to protect well-being in women who experience repeat abortions. Full article

Corporate defaults represent a critical risk factor for financial institutions and stakeholders. In today’s complex economic environment, precise and timely risk assessment has become an essential component of financial strategies. One promising strategy consists of analyzing and learning from financial patterns observed in distressed or bankrupt firms. However, this requires processing highly imbalanced datasets in which bankruptcy cases are substantially underrepresented relative to solvent firms. This imbalance, coupled with the data’s intrinsic complexity—such as overlapping features and nonlinear patterns, poses significant difficulties for traditional classifiers like Support Vector Machines (SVMs), which tend to favor the majority class. To overcome these challenges, we employ a Fuzzy Shadowed SVM, which allows for a more refined modeling of minority class instances. This method leverages granular computing paradigms to enhance predictive robustness. Empirical results based on real-world datasets show that our model significantly outperforms traditional machine learning approaches, particularly in recognizing minority-class instances. Full article