Economic Environment Research Articles

Cultural Routes Through the Perspective of Sustainable Mobility: A Critical Literature Review

ABSTRACTSustainable mobility strategies in the locale could facilitate cultural routes' social, economic, cultural, and environmental mandates. The purpose of this article is to explore the beneficial practices of sustainable mobility on cultural routes through a systematic literature review. The ultimate objective is to summon the sustainable mobility strategies implemented on cultural routes that could positively affect the economic, social, environmental, and cultural environments of a destination. A systematic literature review was initiated through the protocol of the Preferred Reporting Items for Systematic Reviews and Meta‐Analyses methodology. The meta‐synthesis approach resulted in identifying five sustainable mobility policy recommendations suitable for cultural route development. Slow mobility practices, drive tourism, mobility infrastructures along cultural routes, accessibility into cultural routes, and urban mobility are fundamental for the creation of an efficient sustainable mobility plan to support cultural routes and achieve a sustainable tourism future for regions.

Tax avoidance, CSR performance and CEO characteristics: Evidence from developed and developing countries

We explore the association between tax avoidance, CEO characteristics, and corporate social responsibility based on environmental, social, and corporate governance (ESG) ratings, with a specific focus on financial firms in both developed and developing countries. Despite extensive literature on CSR and tax behavior, there is a gap in understanding how these elements interact within the financial sector across diverse economic environments. Using a dataset comprising 996 financial firms from 51 countries, spanning the period from 2002 to 2021, we find a significant negative association between ESG performance and tax avoidance for firms in developed countries, suggesting that firms in developed countries with higher ESG engagement tend to pay more taxes. The results in developed countries also indicate that governance and the social pillar are the factors contributing to the reduction of tax aggressiveness. On the contrary, our results reveal a significant positive relationship between CEO duality and tax avoidance for firms in developing countries. These results not only fill the existing research gap by providing empirical evidence in the links between ESG, CEO characteristics, and tax avoidance in the financial sector but also underscore the importance of institutional differences between developed and developing countries. Our results remain robust when using alternative estimators that control for heteroskedasticity and endogeneity. Our findings have important implications for policymakers and market participants, highlighting the need of a strong corporate governance and tax regulation that consider both ESG performance and CEO attributes.

Statistical analysis of fuel combustion and emissions considering the adverse effects of investment economic environment: Exploring alternatives amid oil prices Swings, digital economy, and local market inflation

The depletion of natural gas reserves, combined with rising oil prices, local market inflation, and concerns about pollution, has accelerated the search for alternative energy sources. As a result, research on turbines and internal combustion engines for electricity generation is increasingly focusing on using vaporized ethanol as a fuel substitute. However, the high cost of analyzing the chemical composition of these fuels often leads to an oversight of their impact on combustion characteristics, such as flame behavior, emission profiles, and temperature distribution.This study employs a statistical approach to assess the combustion and emission characteristics of biofuels, aiming to find suitable alternatives to petroleum-based fuels. By integrating considerations of oil price fluctuations and the digital economy's impact, the research proposes a cost-effective method for evaluating the chemical makeup of vaporized fuels and their effects on post-combustion pollution.Experimental data reveal that alternative fuels can offer stable ignition performance and lower pollution levels, contingent on their specific properties. Fuels with high aromatic content and viscosity tend to produce significant CO emissions, while reducing these characteristics may increase CO2 production. The study also highlights the challenge of simultaneously reducing both CO and NOx emissions. Additionally, the findings show that petroleum gasoline, due to its lower volatility, has favorable fire safety properties and generates fewer pollutants.In the context of economic pressures from rising oil prices and inflation, this research underscores the importance of exploring biofuels as viable, sustainable alternatives for the future energy landscape.

PANCASILA AND MANAGEMENT OF MONOPOLISTIC COMPETITIVE MARKET IN THE STUDY OF THE NATIONAL CRIMINAL CODE NUMBER: 1 OF 2023 AND CHINESE FOREIGNERS

In Indonesia, the National Criminal Code (KUHP) is based on the principles of Pancasila. This paper analyzes the legal and ethical frameworks guiding market practices in Indonesia, while examining the intersection of national legal standards and the influence of foreign participants in the economy. The research contributes to the understanding of how the integration of ideological values and legal regulations is integrated within the context of Indonesia's national Criminal Code Number 1 of 2023, particularly in relation to Chinese foreigners. This study provides insights into the legal, ethical, and economic practices guiding the management of monopolistic competitive markets in the study of the national criminal code number 1 in 2023 and China's foreign constitution. The analysis technique used is a qualitative approach that examines laws and regulations as reflections of Pancastila values, comparing them with Chinese foreign laws to understand how Pancasola principles can be applied to resolve monopoly cases. The study also examines whether the alignment of antitrust laws and economic democracy with Pancasilla leads to tangible improvements in market fairness and societal well-being. This research could provide insight into the practical implementation of ideologies in economic regulation and their impact on fostering a more equitable and transparent economic environment.

Risk Assessment of Banks and Financial Institutions in China

In the aftermath of the COVID-19 pandemic, economic development has emerged as a paramount concern globally. Governments, including that of China, have implemented various policies to reignite growth. However, this pursuit of rapid expansion brings with it inherent risks. This study conducts a comprehensive analysis of the risks facing China's domestic banks and financial institutions. It systematically identifies the factors contributing to their vulnerabilities, highlighting the complexities of the economic landscape. The research reveals that external economic conditions, lingering effects of the pandemic, and internal factors such as banks' understanding gaps collectively drive these risks. By illuminating these dynamics, the study aims to enhance understanding of the challenges confronting financial entities. It seeks to provide valuable insights for the comprehensive evaluation of China's domestic financial landscape in the future. Understanding these risks is crucial for policymakers, regulators, and stakeholders in crafting effective strategies to navigate the evolving economic environment. Ultimately, this analysis contributes to a more informed approach towards bolstering the resilience of China's banking and financial sectors amidst ongoing uncertainties.

A Financial Analysis and Valuation of Home Depot

This study aims to research and analyze the firm’s valuation of Home Depot by exploring the company’s background and recent events, evaluating company performance, forecasting future development, and discovering the firm’s strategy and risk. The performance evaluation uses liquidity, solvency, and profitability to assess the firm operations and use of resources. The additional valuation adopts current and next year’s forecast financial data to measure the company’s EPS and revenue growth rate, P/E, PEG, and GP/A ratios. The results show that Home Depot has high liquidity, high profitability, and low solvency from its operational performance, as well as a high long-term valuation forecast in the home improvement retail industry. This consequence implies that Home Depot may have efficient business management and sound financial health by effectively meeting short-term obligations and using assets to generate revenue. Meanwhile, the company may also pose several risks, including an unstable economic environment, difficulty meeting long-term obligations, the continued decline in annual gross margins and ROIC, and potential stock overvaluation for investors.

The Impact of Policies Regulating the Development of Private Equity on the Growth of Investment Firms

In the current economic environment, there are many kinds of private investment. The importance of how to ensure that investment companies operate rationally and invest successfully, regulate investment behavior and private equity fund managers of investment companies is becoming more and more apparent. Stable and reasonable regulatory policies are conducive to the promotion of improved profitability of investment companies and the long-term stable development of the capital market, among which the promulgation of the Regulations on Supervision and Administration of Private Investment Funds (the "Regulations") has had a profound impact on the growth of investment companies. This paper focuses on the positive and negative impacts of the Regulations on the growth of companies, and selects representative companies in the capital market services for comparative analysis. The results of the study show that the promulgation of the Regulations further regulates the development of the private equity fund industry, making investors more cautious in their decision-making, and thus promotes the development of the growth of private equity fund investment companies.

Perlindungan Hukum Terhadap Masyarakat Di Wilayah Pertambangan Dalam Penyelesaian Sengketa Pengelolaan Lingkungan Hidup

Mining activities that are increasingly uncontrolled have various impacts on the community and life around the mine, including; Environmental damage, high levels of pollution (soil, water and air), also cause disruption to the wider community in the form of damage to houses and public facilities. This research aims to determine the form of legal protection for communities in mining areas who suffer losses related to mining activities, as well as to determine dispute resolution in the form of demands for compensation from communities around mining locations. The research method uses normative research methods with a statutory approach, conceptual approach and case approach. Apart from that, empirical research is also used to see the reality that occurs in the field. The results of the research show that the legal implications regarding the protection of communities in mining areas in environmental management are problematic in their resolution due to the government's indifference and also regarding the compensation provided by mining business actors. The responsibility for restoring mining land is the responsibility of business actors as an obligation to restore the social and economic environment as a result of the impact of mining activities on communities in mining areas.

Capital Flight and Nigeria Economic Growth

The study explored the impact of capital outflow in Nigeria and focused on its implications for the country's emerging economy. It reviews relevant literature and theories. It applied the Augmented Dickey-Fuller test to analyze the time series data obtained for the investigation. The ARDL bounds tests for cointegration was used to determine the relationships among the variables. The autoregressive distributed lag method was also employed to evaluate the short- and long-term associations between the explanatory factors and economic growth. Findings reveal a limited correlation between capital outflow and economic growth, whereas foreign direct investment showed a minor negative impact in the long run. It was also revealed in the investigation that leadership style and Governance contribute to capital flight in the country. Recommendations were to the effect that, creation of a favourable economic environment was necessary to reduce capital outflow, promote trade liberalization, and encourage regional integration to enhance market access.

중소 수출 제조기업의 빅데이터 분석 역량이 공급망 회복탄력성과 공급망 성과에 미치는 영향에 관한 연구 - 기계/장비 산업을 중심으로

As the economic environment of the global market is rapidly changing, uncertainty is increasing, and technological innovation, as well as financial and human resources, are becoming important factors. In particular, small and medium-sized export manufacturing companies are building global supply chains to improve their competitive advantage, and big data analytics capabilities to collect and analyze manufacturing and import/export information have been raised as a way to solve these risks. Therefore, this study analyzed the influence of big data analytics capabilities on supply chain performance through logistics flexibility and supply chain resilience in the supply chain formation of small and medium-sized export manufacturing firms. The survey was distributed to small and medium-sized export manufacturing companies from January 3, 2024, to March 31, 2024, through face-to-face, email, mail, and fax, focusing on the list of member companies provided by the Korea International Trade Association, the Ministry of SMEs and Startups, the Smart Manufacturing Innovation Association, and the SME Technology Information Promotion Agency. More than 2,000 copies were distributed and 215 copies (21.5%) were collected, and 203 copies of the questionnaire were constructed after removing 12 non-response questionnaires. Based on the collected questionnaires, the analysis was conducted using SPSS Ver. 28.0 and the extension program Process Macro Ver. 4.2. The results of the empirical analysis of this study are as follows. First, big data analytics capabilities have a positive impact on supply chain performance. Second. big data analytics capabilities have a positive effect on supply chain performance through the mediation of logistics flexibility. Third, big data analytics capabilities have a positive effect on supply chain performance through the mediation of supply chain resilience. Fourth, big data analytics capabilities have a positive effect on supply chain performance through the dual media.

Problematika Hukum Kewenangan Pejabat Pengawas Lingkungan Hidup Dalam Penegakan Hukum Lingkungan Di Bidang Pertambangan

Mining activities are closely related to society and the environment because every mining business must maintain the continuity of the carrying capacity and capacity of the environment. Environmental supervisory officials are obliged to supervise compliance with the person responsible for business and/or activities carried out based on statutory regulations in the field of environmental protection and management. This research aims to determine the authority of environmental supervisory officials in enforcing environmental law in the mining sector. This research uses normative research methods with a statutory approach, conceptual approach and case approach. Apart from that, empirical research methods are also used so that we can get results regarding the authority of environmental supervisory officials in enforcing laws in the mining sector. The process of enforcing environmental law in the mining sector must be implemented from the stage of the process of fulfilling environmental permits and AMDAL studies, then planning, implementation and supervision, both at the exploration, production and post-mining stages. Enforcement of environmental law carried out by environmental supervisory officials in the mining sector signals to business actors to address the recovery of the social and economic environment as a result of a mining business activity located in the local government area. Environmental supervisory officials in law enforcement in the mining sector must carry out their duties and obligations in accordance with applicable laws.

Implementasi Program Gotong Royong Cegah Stunting (Goceng) Di Kecamatan Cipondoh Kota Tangerang

Public policy is the concepts and principles that form the lines and basis of plans in carrying out work, leadership, and ways of acting (regarding orders, organizations, and so on). This policy can be implemented in government, the private sector and organizations. Policy is one of the things that is considered to be used in realizing a result from an action. The term implementation is usually associated with an activity carried out to achieve certain goals. One effort to realize this in a system is implementation. According to the law of the Republic of Indonesia Republic of Indonesia no. 25 of 2004 explains that a program is a way to implement policies that contain one or more activities carried out by the government/institution to achieve targets and objectives. Cpondoh District, Tangerang City created a program as a public policy for the community. However, there is still a problem with this program, namely that the community still does not want to participate and is still embarrassed if their children are categorized as approaching stunting, even though in Cipondoh District itself there are still children who experience stunting prevention. This research aims to determine the implementation of the Mutual Cooperation Program to Prevent Stunting (GOCENG) policy and determine the inhibiting factors and efforts made. This type of research is qualitative with a descriptive method that uses the results of analysis from Donald S. Van Meter and Carl E. Van Horn (1975) using 6 indicators, namely: Policy standards and targets 2. Resources 3. Characteristics of the implementing organization 4. Communication between related organizations and implementation activities 5. Disposition 6. Social, economic and political environment. The results of this analysis show that the Mutual Cooperation Program to Prevent Stunting (GOCENG) in Cipondoh District has not been successful because there are still obstacles.

A real options-based framework for multi-generation liquid air energy storage investment decision under multiple uncertainties and policy incentives

Liquid Air Energy Storage (LAES) is a promising energy storage technology renowned for its advantages such as geographical flexibility and high energy density. Comprehensively assessing LAES investment value and timing remains challenging due to uncertainties in technology costs and market conditions. This study introduces a real options-based framework to evaluate investments in multi-generation LAES systems in China's power market by considering uncertain factors, such as investment cost and electricity price. Additionally, the impact of various incentives, including subsidies and preferential taxation policies, on LAES investment is investigated. The proposed investment decision framework is applied in a case study of a 10 MW-class multi-generation LAES system. Results show that the current economic environment is insufficient to trigger immediate LAES investment. The recommended optimal investment times are 2029 for Guangdong, 2031 for Jiangsu, and 2036 for Beijing and Qinghai without incentives. The levelized cost of storage at the optimal investment time is 0.105-0.174$/kWhe, and the optimal investment value is 882-9269k$. It is also found that preferential taxation policies can increase the LAES investment value. Increasing investment subsidies and technology learning effects have limited impacts on stimulating investments. In contrast, discharge subsidies are more favorable for promoting the deployment of LAES systems.

Investigation of the realities of the influence of economic environment conditions on the economic behavior of the able-bodied population in the labor market of Yaroslavl

Investigation of the realities of the influence of economic environment conditions on the economic behavior of the able-bodied population in the labor market of Yaroslavl

Evaluation of financial strategies for balancing the investment climate in Ukraine

Introduction. Evaluation of financial measures to stabilize the investment climate in Ukraine is an extremely important topic in the conditions of modern economic development of our country. Investments play an important role in strengthening our economy. However, in order to achieve stable economic growth, effective financial strategies are needed, which will contribute to the improvement of the investment climate and its balance. The purpose of this paper is to study financial strategies for balancing the investment climate in Ukraine. To achieve the goal, the following tasks were performed in the research process: the concepts of investment and investment climate were considered; the main financial strategies for balancing the investment climate in Ukraine were investigated. Results. It is noted that the country’s investment climate is a set of political-legal, financial-economic, social, institutional, infrastructural, innovative and other conditions affecting investment activity. Creating a favorable investment climate is a key factor for attracting investments and ensuring further economic growth of the country. It was also noted that investments are the main tool for forming both microeconomic and macroeconomic proportions that determine the rate of economic growth. Availability of a sufficient volume of investments in vital areas is a guarantee of effective development and increase of the country’s investment attractiveness. In order to improve the investment climate in Ukraine, it is necessary to implement balanced and transparent financial strategies that will contribute to the stability of the economic environment, reduce risks for investors and ensure the efficient use of resources. It is critical to improve the regulatory environment by reducing bureaucratic barriers and increasing the transparency of procedures. Ensuring reliable protection of investors’ rights and fighting corruption is the basis for creating a trusting investment environment. Fiscal stability, including inflation control and effective public debt management, are important to maintain investment attractiveness. The development of financial markets, support for innovations and technological start-ups, as well as attracting international financial assistance will contribute to the stabilization of the economic environment and the reduction of risks for investors. Conclusion. Implementation of these strategies can help Ukraine increase its investment attractiveness even in difficult current conditions and ensure sustainable economic development in the long term.

The Extent to which Conflict of Interest in the Public Sector Affects Private Sector Functioning

This analysis explores the profound implications of conflict of interest in the public sector on private companies, highlighting the intricate relationship between governmental decisions and market outcomes. Public-sector conflicts of interest can distort regulatory frameworks, disrupt market competition, and compromise ethical standards, leading to significant challenges for private enterprises, including financial instability and reduced investor confidence. The study underscores the importance of transparent governance and ethical integrity in maintaining a fair and competitive economic environment. It concludes that addressing conflicts of interest in public administration is not only a matter of ethical compliance but a critical necessity for ensuring equitable business practices and sustaining long- term economic growth. By fostering a regulatory environment centered on transparency, accountability, and ethical governance, we can mitigate the detrimental effects of conflicts of interest, thereby promoting a healthier and more trustworthy landscape for private sector operations.

Studying the role of corporate social responsibility, green HRM and green innovation to improve green performance of SMEs

PurposeThe purpose of this study is to find out the relationship between the corporate social responsibility (CSR) and green performance (GP) of Pakistani manufacturing SMEs. This study further explores the mediating roles of green human resource management (GHRM) and green innovation (GI) in the relationship between CSR and GP.Design/methodology/approachA survey method was used to collect data from manufacturing SMEs. Data were collected from 366 respondents working in higher positions and playing a decisive role in the organization. The collected data were analysed by applying structural equation modelling with the help of smart PLS.FindingsThe study shows that CSR (customers, society, employees) helps significantly improve a firm's GP. Furthermore, this study explores how GI (process, product) and GHRM (skills development, motivation and involvement) mediate the relationship between CSR and GP.Research limitations/implicationsThis study is limited to manufacturing SMEs and a single developing country, Pakistan. However, this study will significantly contribute to the existing literature on GP and help manufacturing firms’ top management take steps to minimize carbon emissions and improve GP. Furthermore, this study will also provide valuable insights to government agencies in the Asian context to adjust their policies regarding the manufacturing sector to reduce pollution in the country.Originality/valueAs a pioneering study encompassing CSR, GHRM, GI and GP under one research paradigm in an emerging economy environment, the current research provides substantial additions to the literature on the impact of CSR on GP.

Cultural Sustainable Development Strategies of Chinese Traditional Furniture: Taking Ming-Style Furniture for Example

In view of the gradual decline and near-stagnant crisis of traditional furniture art from the late Qing Dynasty, the article studied the cultural sustainable strategies of Chinese traditional furniture represented by Ming-style furniture, hoping to promote the revitalization of traditional furniture and good inheritance of traditional culture in modern society. Based on the theory of “Methodology of Affairs”, the article proposes that the sustainable strategies of traditional furniture can be understood as a correlation system under the joint action of “internal factors” (shape, function, technology, etc., of furniture) and “external factors” (social environment, economic environment, humanistic environment, etc., in which furniture develops). Starting from the two aspects, the article finally analyzed the improved translation of internal factors in five parts: shape and function, structure and connection, material and process, color and furnishing, decoration and aesthetics, and studied the adaptive changes in external factors from five dimensions: politics, economy, culture, society, and users. The article hopes to help this endangered Chinese traditional furniture art develop in a sustainable direction, and also provide a reference for scholars working in the field of the inheritance and development of traditional culture.

Advancing medical laboratory practice in Pakistan: insights from a focus group study on technologists’ training needs

BackgroundThe realm of medical laboratory technology (MLT) training and education is unstructured in Pakistan. The primary challenge currently confronting the workforce in MLT is the absence of standardized curricula and assessments in education and training. This was an exploratory study aiming to inquire experiences of trainees, alumni and teaching coordinators regarding the technologist training program in a single institute at Pakistan.MethodsTo gain an in depth understanding of MLT program, three focus group discussions (FGDs) were held at Department of Pathology and Laboratory Medicine, Aga Khan University, Pakistan during Feb-April 2024. A team of pathologists and educationists developed interview guides for FGDs in English. Interviews were bilingual, transcribed verbatim and coded using thematic analysis. Participants included current trainees, alumni, teaching and learning coordinators and moderators for the interview.ResultsA total of 29 participants were engaged; these included current MLT trainees (n = 10), alumni (n = 10), and teaching/learning coordinators and sectional supervisors (n = 9). Five main themes emerged from the analysis of FGDs: (Scott MG, Rifai N, Smith B, Oellerich M, Panteghini M, Apple F et al. The changing face of laboratory medicine: a more service and less academically oriented profession? 2015;61(2):322-9.) Recognition of key features of the MTT program, (Ferraro S, Braga F, Panteghini MJCC, Medicine L. Lab Med new Healthc Environ. 2016;54(4):523–33.) Evaluating curriculum design, (Waheed U, Ahmad M, Wazeer A, Saeed M, Saba N, Rasheed FJMJMS. Medical laboratory science education; shaping competent and skilled healthcare professionals. 2023;1(1):58–63.) Teaching and learning strategies, (Ned-Sykes R, Johnson C, Ridderhof JC, Perlman E, Pollock A, DeBoy JM. Competency guidelines for public health laboratory professionals. 2015.) Addressing the need to improve assessment methods, and (Linder RJJM, Education B. Educating medical laboratory technologists: revisiting our assumptions in the current economic and health-care environment. 2012;13(2):150-4.) Navigating the transition from a trainee to a competent technologist.ConclusionOur investigation demonstrated its potential as a valuable needs assessment study, highlighting key strengths, drawbacks, and challenges of the existing MTT program. Importantly, these findings at our institute can inform further research efforts to design competency-based MLT education and training programs in Pakistan.

Economic Policy Uncertainty and Firm Performance in Pakistan

The aim of this study is to examine the impact of economic policy uncertainty (EPU) on firm performance in Pakistan. Net profit margin (NPM) and ROE are taken as proxies for firm performance. Purposive sampling is used to collect quarterly data of 236 non-financial firms listed on Pakistan Stock Exchange (PSX) from Thomson Reuters Eikon database, as well as quarterly data on EPU and other economic indicators from World Bank database, to test the effect of EPU on firm performance in Pakistan. Using the random effects regression, we observe that economic policy uncertainty has a significant negative impact on the performance of firms in Pakistan. The results are robust in both the models with NPM and ROE as the proxies for firm performance. The findings are crucial for the firms as they need to find ways to deal with high levels of economic policy uncertainty, as well as for the policy makers that they can try to reduce the uncertainty to give a more stable economic environment to the firms operating in Pakistan.