Search Results (8,390)

The persistent fragmentation of the architecture, engineering, and construction (AEC) industry drives the pursuit of advanced and unified construction solutions. This study investigated the limited understanding and adoption of one of these solutions, the platform approach to design for manufacturing and assembly (P-DfMA) within the AEC industry. Semi-structured interviews were conducted with 14 design professionals from China and the UK to understand how they utilize this approach. Governmental policy documents were also analyzed to examine how they hinder or facilitate the adoption of P-DfMA. The results were mapped using the technology–organization–environment (TOE) framework. Challenges and adoption considerations were identified by a thematic analysis, supported by text-mining results from Voyant Tools, with the most frequent keywords visualized in charts. The findings indicate that P-DfMA adoption is conceptually fragmented within the AEC industry, with a gap between theory and practice. Technical limitations in organizational structuring and environmental misalignment hinder adoption. Challenges and considerations span five domains: design, digital, financial and procurement, organizational, and sustainability. This research offers novel insights gained by integrating multi-layered analyses of construction practice interviews and policy perspectives within the TOE framework, along with timely insights into the socio-technical dynamics shaping the future of the industry. Full article

Economic development and its sustainability are influenced not only by material, human, financial, and intellectual factors, but also by psychological factors. In particular, the levels of business expectations, trust, and confidence significantly affect the resilience of the economy, especially in crucial sectors such as industry and, more specifically, industrial production. Based on political, economic, social, and legal stability, businesses are likely to assess their opportunities more optimistically and realistically. This, in turn, enables them to look confidently toward the future and provides a foundation for investing in further development. Conversely, a decline in business expectations and confidence can slow socio-economic development, potentially leading to recession or depression. The purpose of the article is to identify the association between business confidence (Impact of the Business Confidence Indicator, IBCI) and the level of industrial production (Industrial Production Index, IPI), as a crucial aspect of ensuring sustainable economic development. A correlation–regression analysis conducted using Ukraine as a case study—a country candidate for EU accession—and statistical data from the State Statistics Service of Ukraine (SSSU) for the period from 1 February 2022 to 1 September 2024 demonstrated that there is a stable, positive, and strong relationship between IBCI and IPI levels (r = 0.7; D = 0.49). The constructed linear correlation model indicates that, with other factors held constant, a one-percentage-point increase in positive business expectations may lead to a 2.23-point rise in the industrial production activity of enterprises in Ukraine’s manufacturing sector. Furthermore, approximately 49.0% of the variation in industrial production levels is likely explained by changes in business expectations. Verification of the constructed regression equation and assessment of its parameters indicate that it is statistically reliable and consistent with real economic processes. Specifically, the Fisher coefficient (F = 5.30) exceeds the critical (tabular) value (Ft = 2.04), with Se = 0.45 and C_95% = 1.96; the causality test based on the Granger methodology revealed the presence of a causal relationship, indicating that the IBCI influences the IPI. The obtained statistical results for the applied models and tests are as follows: MDF (p < 0.05), KPSS (p > 0.10), Durbin–Watson ≈ 2.0, Breusch–Godfrey (p = 0.32), White (p = 0.41), ARCH (p = 0.27), and SER (p = 0.36). The constructed correlation–regression equation also allowed forecasting based on trend line modeling—how IPI levels will change depending on business confidence. According to the forecast, the IPI in Ukraine at the beginning of 2030 is expected to increase by 63.48 percentage points compared to the beginning of 2024, reaching 153.6%. Full article

Although corporate tax avoidance strategies may increase internal funding that supports innovation, they can also undermine it by weakening governance and encouraging short-term financial objectives. However, the overall impact remains theoretically contested, with insufficient empirical research available. This study examines the relationship between corporate tax avoidance and innovation, focusing on the moderating role of environmental, social, and governance (ESG) practices. Using a panel dataset of 12,408 firm-year observations of South Korean listed companies from 2014 to 2023, Tobit regression analyses reveal a statistically significant negative association between tax avoidance and innovation. Notably, this negative relationship is significantly mitigated in ESG-engaged firms, particularly those with stronger ESG performance. Further analysis indicates that these moderating effects are driven primarily by the social and governance domains. These findings suggest that ESG practices can offset the detrimental effects of tax avoidance by strengthening governance and stakeholder alignment. This study underscores the importance of integrating ESG principles into corporate tax strategies to support long-term innovation and sustainable corporate development. Full article

Background: The COVID-19 pandemic led to an unprecedented global health and economic crisis, and vaccination emerged as a critical intervention to control the spread of the virus and mitigate its impact on health systems and economies. Despite the rapid development and deployment of vaccines, the financial commitments required for these vaccination programs are substantial, necessitating a comprehensive understanding of the associated costs to inform future public health strategies and resource allocation. Method: This analysis estimates the global, regional, and national economic costs of COVID-19 vaccination across 234 countries and regions in the period 2020–2023, consisting of vaccine procurement costs and administration costs. Result: As of 31 December 2023, the global costs of COVID-19 vaccination programs were estimated at USD 246.2 billion, with vaccine procurement accounting for approximately USD 140.2 billion and administration costs totaling USD 96.4 billion. Globally, a cumulative total of 136.9 billion doses of COVID-19 vaccines had been administered. Factoring in an estimated wastage rate of 10%, it is projected that approximately 150.6 billion doses were used. On a global scale, the average number of vaccine doses administered per capita was estimated at 1.73. The mean cost per capita was USD 17.70 (95% CI: USD 15.84–19.56) for vaccine procurement and USD 12.16 (95% CI: USD 10.29–14.02) for administration, resulting in a total average cost of USD 29.85 (95% CI: USD 26.33–33.37) per capita. Significant disparities in costs were observed across income groups and regions. High-income countries incurred a notably higher average cost per capita of USD 76.90 (95% CI: USD 72.38–81.41) in contrast to low-income countries, where the per capita cost was USD 7.20 (95% CI: USD 5.38–9.02). For middle-income countries, the average per capita costs were USD 15.02 (95% CI: USD 10.64–19.40) in lower-middle-income countries and USD 28.21 (95% CI: USD 23.60–32.83) in upper-middle-income countries. Regionally, the Americas (AMR) reported the highest total cost at USD 70.8 billion, with an average per capita cost of USD 65.23 (95% CI: USD 56.18–74.28). The Western Pacific Region (WPR) followed with a total cost of USD 63.9 billion and an average per capita cost of USD 31.93 (95% CI: USD 20.35–43.51). Conversely, the African Region (AFR) had the lowest total spending at USD 10.8 billion and a per capita cost of USD 8.85 (95% CI: USD 5.34–12.37), reflecting both lower vaccine procurement and administration costs. The European Region (EUR) recorded a high average per capita cost of USD 53.36 (95% CI: USD 46.79–59.94), with procurement costs at USD 31.28 (95% CI: USD 27.41–35.14) and administration costs of USD 22.09 (95% CI: USD 19.31–24.87). Conclusions: The global rollout of COVID-19 vaccination revealed substantial variation in cost structures across income groups. Procurement costs imposed greater burdens on low- and lower-middle-income countries, whereas delivery and administration costs dominated in higher-income settings. These disparities highlight persistent fiscal inequities and emphasize the need for stronger international coordination and cost transparency to enhance equity, efficiency, and preparedness in future vaccination efforts. Full article

Sandstone quarrying in Lekokoaneng contributes to both local and national economic development, yet it raises concerns about environmental degradation and community livelihoods. Using a mixed-methods design framed by the Sustainable Livelihood Framework (SLF) and the Sustainable Development Theory (SDT), 203 households were surveyed across five buffer zones (0–1000 m) around the formal quarry site in Lekokoaneng, Berea District, Lesotho. Quantitative data were analysed descriptively, while qualitative responses underwent thematic analysis and were transformed into quantifiable categories. Quarrying generated employment and small-business opportunities concentrated within 0–600 m of the site, alongside elevated reports of dust, soil degradation and water contamination that undermined agriculture and health. Households nearest the quarry reported the highest income benefits (e.g., 35% via employment) but also the greatest environmental burdens. Households furthest away reported fewer risks but also limited economic gain. Thematic analysis yielded four domains: Socio-Economic Empowerment, Livelihood Vulnerability, Health and Safety Risks, and Environmental Degradation and Control. Integrating SLF and SDT shows quarrying as a double-edged livelihood system with short-term financial gains that coincide with erosion of natural, human and social capitals. Targeted environmental safeguards, labour formalisation and community-inclusive governance are essential to realign quarrying with resilience and sustainability goals. Full article

The green economy has become an economic necessity and a cultural discourse due to the rapid global movement towards sustainability. This paper discusses the representation of green economy in Qatar and Malaysia, two countries with different political and cultural background but similar ambitions to attain sustainable development on social media. Through the application of qualitative techniques, namely thematic analysis and critical discourse analysis, the re-search analyzed Twitter, Facebook, Instagram, and LinkedIn posts discussing sustainability, renewable energy, and green innovation by using hashtags and stories on the topic. The results indicate that four major themes exist in both settings, and they are sustainability as national pride and identity, corporate–government branding of green efforts, grassroot and citizen involvement, and conflicts around contradictions and skepticism. Green economy in Qatar is constructed as a symbol of prestige and international presence, which is directly connected to the Qatar National Vision 2030, and popularized at the state and corporate levels. Big projects, financial solutions like green bonds, and sustainable infrastructure are mentioned in narratives and criticism is afforded little space. The environmental sustainability is part of cultural representation and collective accountability, grassroots mobilization, youth activism, and defiance of official and corporate language in Malaysia. A dynamic and critical digital discourse is often criticized by the citizens when they face perceived greenwashing. The research adds to the theoretical knowledge of understanding of framing theory that civic space plays a role in the development of sustainability discourses and the importance of critical discourse analysis in studying power relations in environmental discourse. In practice, the study recommends that Qatar should engage its citizens in more than just symbolic branding; Malaysia should enhance transparency and consistency of its policies to curb the skepticism of its people. In general, the paper highlights the fact that social media is not simply a medium of communication but rather a controversial field on which the definitions of sustainability are actively discussed. Full article

This paper unveils the nexus of the energy finance market and its significant dynamics. The results exhibit potential research areas, dominating research patterns and interlinkages among them. Our sample consists of 927 articles selected from the Scopus database for the sample period of 1972–2024. We present the quantitative performance of top articles, journals, authors, countries, and institutions. The result includes keyword co-occurrence analysis and co-authorship analysis for authors and countries. We include a literature review of the top 20 cited articles and the most followed methodologies. We found five themes, four clusters, and thirty-four future research questions, showing potential areas of research in the energy finance market. Additionally, based on our results, we proposed a theoretical framework of five major independent factors impacting the energy finance market. This novel study provides a comprehensive picture of the energy finance market, covering a vast period using Scopus as a database, underscoring the prevalent research patterns and serving financial practitioners, researchers, and policymakers. Full article

Vocational training can lead to higher employment rates and improved incomes, particularly for young women in low-resource settings like Kampala’s slums. Despite these benefits, further research is needed to understand the full impact and mechanisms of vocational training on youth in low-resource environments. In 2022, a focus group project, part of a larger study, involved 60 women aged 18 to 24, recruited from three Youth Support Centers operated by the Uganda Youth Development Link (UYDEL) in Kampala. Six focus groups (about 10 women in each group) were held to explore urban stress and how vocational training might mitigate social and environmental stressors and improve mental health. Data analysis conducted using NVivo software identified five key themes: economic benefits, skill development, building confidence and self-esteem, improved social and behavioral well-being, and enhanced lifestyle and quality of life. This formative research underscores that vocational training benefits young women, highlighting outcomes such as job acquisition, financial empowerment, and skill development. Additionally, self-esteem and confidence development emphasize the training’s role in fostering mental health and agency and addressing gender inequality. These findings underscore the value of vocational training in enhancing the mental health and overall well-being of young women and suggest areas for future research for how to best optimize and scale these programs in low-resource settings. Full article

The global secondhand apparel industry, valued at USD 256B in 2025, is expanding rapidly. The growing acceptance of secondhand fashion and advancements in retail technology have driven millions of individuals to resell, yet little research has analyzed the motivations behind these decisions. Guided by Consumption Values Theory and Goal-Framing Theory, this qualitative study uses ten in-depth interviews with experienced resellers to examine why individuals participate in apparel reselling. Analysis of the participants’ narratives indicates that financial gain is the dominant driver of participation, followed by the convenience provided by reselling platforms and channels, emotional satisfaction, and contributing to sustainability. Conceptually, the study integrates value-based and goal-based lenses to offer an extensive explanation of reseller motivations, shifting focus from the buyer perspective that has dominated prior research. Practically, the findings suggest that resale platforms can encourage participation by reducing visible fees, enabling faster payout, and simplifying the reselling process, while also making community and environmental benefits more visible. In all, these insights help retailers and sustainability advocates better design approaches that support individual resellers and sustain growth in apparel resale. Full article

This research examines the time–frequency co-movement patterns among the Johannesburg Stock Exchange (JSE) size-based indices, utilizing daily data covering the period from November 2016 to December 2024. To conduct the analysis, three sophisticated wavelet techniques are applied: the Maximal Overlap Discrete Wavelet Transform (MODWT), the Continuous Wavelet Transform (WTC), and the Wavelet Phase Angle (WPA) model. Subsequently, the Multivariate Generalized Autoregressive Conditional Heteroscedasticity–Asymmetric Dynamic Conditional Correlation (MGARCH-DCC) model is employed to evaluate the robustness of the findings. The results reveal that the co-movement among the JSE size-based indices is influenced by investment holding periods and prevailing market conditions. Notably, a lead–lag relationship is identified, indicating that a single size-based index often drives the co-movement of the others. These findings carry important implications for investors, policymakers, and portfolio managers. Investors should account for optimal holding periods to avoid increased correlation and reduced diversification benefits. Policymakers are advised to mitigate financial market uncertainty, particularly during bearish phases, to manage excessive index co-movement. Portfolio managers must integrate both holding periods and market conditions into their investment strategies. This research offers a novel contribution to the South African investment landscape by providing practical and risk-mitigating insights into the role of JSE size-based indices within diversified portfolios—a topic that has received limited attention despite its growing relevance. Full article

This study examines the determinants of financial sustainability in Turkish maritime industry by analyzing firm-level panel data from 190 ship and boat maintenance firms and 208 coastal shipping companies for the 2010–2022 period, comprising 5174 firm-year observations. Fixed-effects models with Driscoll–Kraay robust standard errors are employed to evaluate how asset structure, liquidity, and energy efficiency jointly affect firm profitability across subsectors, using the Operating Return on Assets (OROA) as the principal indicator of operational performance. The empirical results indicate substantial heterogeneity between maintenance and shipping firms. For maintenance firms, OROA shows a positive association with the Non-Current Assets to Total Assets ratio (NCATA) and the Economic Efficiency Ratio (EER) but a negative association with the Current Ratio (CR), suggesting that capital deepening and operational efficiency tend to correlate with stronger performance, whereas excess liquidity is associated with weaker outcomes. For shipping firms, OROA is positively associated with EER and Total Asset Turnover (TATR) but negatively associated with Fixed Asset Turnover (FATR) and CR, indicating relationships consistent with efficiency gains from energy management and asset utilization but linkages suggesting challenges from fleet aging and liquidity mismanagement. Overall, the findings suggest that the drivers of financial sustainability are associated with different structural conditions across maritime subsectors, highlighting the importance of targeted modernization, port efficiency, and energy-transition investment strategies. Full article

While the inclusiveness of digital finance is widely acknowledged, existing research predominantly focuses on its developmental level, with limited attention to its spatial correlation network and structural characteristics. A city’s centrality within this network governs the flow and allocation of digital financial resources, thereby influencing interregional and urban-rural efficiency in resource allocation and income distribution, which ultimately shapes the trajectory of common prosperity. Based on panel data from 280 Chinese cities (2011–2021), this study employs social network analysis to measure urban centrality in the digital financial spatial correlation network and empirically investigates its impact and mechanisms on common prosperity. The main findings are as follows: (1) Benchmark regressions confirm that overall network centrality and its three dimensions—degree, betweenness, and closeness centrality—significantly promote common prosperity, specifically by enhancing the “wealth” dimension and reducing regional development disparities, with the growth effect currently surpassing the inclusion effect. (2) Robustness checks, including instrumental variable approaches addressing endogeneity, affirm the reliability of the core findings. (3) Heterogeneity analysis reveals that the positive effect is more pronounced in cities that are less developed or have weaker financial foundations, such as those in Western China, non-financial centers, cities with no presence of formal financial institutions in antiquity, fifth-tier cities, and small and medium-sized cities, suggesting that network centrality serves as a catalytic tool for urban catch-up strategies. (4) Mechanism analysis identifies that fostering entrepreneurship, particularly among self-employed individuals and wholesale/retail enterprises characterized by decentralized operations and abundant transaction data, is the primary channel through which centrality advances common prosperity. This study provides insights into promoting balanced regional development and common prosperity by optimizing the spatial structure of digital finance. Full article

We develop a four-dimensional nonlinear model of a reflexive financial system by extending the Xin–Zhang system with a self-reinforcing sentiment channel. The model comprises four interacting variables—interest rate, investment demand, price index, and market confidence—and incorporates reflexivity to capture feedback between economic fundamentals and investor sentiment. A Lyapunov function shows that the system is well-posed and dissipative, ensuring bounded trajectories. We then analyse the dynamics using standard nonlinear-dynamics tools. Reflexive confidence sustains chaotic motion, inhibits convergence to equilibria, and produces irregular, aperiodic bifurcation patterns; sentiment-driven feedback destabilises a dissipative macroeconomic model and sustains volatility, as evidenced by a positive largest Lyapunov exponent and Kolmogorov–Sinai entropy greater than zero. Using U.S. monthly consumer sentiment and the S&P 500, we observe co-movement, a medium-horizon lead of sentiment, and a nonlinear persistence map $w_{t+1}=f\left(w_t\right)$—stylised facts consistent with the model’s self-reinforcing confidence channel. Full article

Agent-based models (ABMs) in transport represent a paradigm shift from traditional aggregate and equilibrium-based approaches. By modeling individual behaviors of a heterogeneous population, an ABM offers a more realistic representation of urban phenomena and extends sensitivity to different policy interventions. Despite this, ABM implementation faces several challenges such as limited reproducibility, uneven global implementation, and high technical and financial costs, particularly relevant in the Global South. The proposed framework addresses these gaps by implementing a modular, transparent, publicly shared data-driven approach, reducing hierarchies and relationships definitions while ensuring reproducibility. Utilizing nationally available data to generate a synthetic population, activity plans, multimodal network and agent simulations in MATSim, the framework was applied in the Metropolitan Area of Fortaleza, a region with approximately 4 million people in Brazil. Despite inherent data limitations characteristic of developing contexts, the framework demonstrated performance compatible with strategic planning applications. Traffic assignment validation showed a mean absolute error of 301 vehicles during morning peak hours and 423 vehicles for the 24 h period, which are acceptable for scenario-based policy analysis. Beyond the potential to democratize access to robust urban planning models in similar data-constrained scenarios worldwide, this study presents pathways to foster national dialogue toward improved data collection practices for disaggregated transport model implementation. Full article

This study explores the effect of the energy transition on financial stability in the context of 13 OECD countries during the period from 2009 to 2019. In this sense, the soundness of the financial system is expressed through two dimensions: the Zscore and the volume of non-performing loans (NPLs). Using a dynamic panel estimation with the Generalized Method of Moments (GMM), the results highlight the complex effects of the energy transition on financial stability. Switching from fossil to clean energy improves the Zscore and reduces NPLs. In addition, the study reveals heterogeneous impacts depending on the renewable energy source involved. In fact, wind energy makes a positive contribution to both dimensions of financial stability. By linking the dynamics of the energy transition with the resilience of the banking sector, this study provides new insights into how sustainable energy policies can foster long-term financial sustainability. The effects of solar power and hydroelectricity, while positive overall, are not without nuances. Specifically, the former reduces the NPLs but also the Zscore, while the latter has the opposite effect on both aspects of financial stability. At this point, it is crucial to take into account the varying effects of different renewable energy sources when assessing the financial repercussions of the energy transition. Full article