Financial Strategies Research Articles

Green growth dynamics: unraveling the complex role of financial development and natural resources in shaping renewable energy in Sub-Saharan Africa

This study examines the complex interplay between financial development, natural resources, and renewable energy consumption in Sub-Saharan Africa from 2000 to 2020, highlighting the pivotal role of financial strategies in enhancing sustainable energy practices. Employing an array of analytical techniques, including panel-corrected standard errors (PCSE), fixed effects, random effects models, and panel-fixed quantile regression, we delve into the nuanced relationships among these critical variables. The findings reveal that while natural resources and financial development generally exert negative impacts on renewable energy consumption when considered in isolation, a significant transformation occurs when these factors interact. Specifically, the detrimental effects of natural resources on renewable energy usage are substantially mitigated by robust financial development, which not only offsets the negative impacts but also promotes renewable energy adoption. This interaction points to a synergistic relationship where strategic financial development can leverage natural resources for progressive energy outcomes. Such insights underscore the necessity of well-coordinated financial policies and resource management to foster green growth in Sub-Saharan Africa, demonstrating the urgent need for integrated approaches to achieve sustainability in the region. This research not only clarifies the dynamics of financial and natural resource interdependencies but also motivates significant policy implications for enhancing renewable energy landscapes in developing economies.

Assessing the financial burden of multimorbidity among patients aged 30 and above in India

BackgroundMultimorbidity is associated with significant out-of-pocket expenditures (OOPE) and catastrophic health expenditure (CHE), especially in low- and middle-income countries like India. Despite this, there is limited research on the financial burden of multimorbidity in outpatient and inpatient care, and cross-state comparisons of CHE are underexplored.MethodsWe conducted a cross-sectional analysis using nationally representative data from the National Sample Survey 75th Round ‘Social Consumption in India: Health (2017–18)’, focusing on patients aged 30 and above in outpatient and inpatient care in India. We assessed multimorbidity prevalence, OOPE, CHE incidence, and CHE intensity. Statistical models, including linear, log-linear, and logistic regressions, were used to examine the financial risk, with a focus on non-communicable diseases (NCDs), healthcare facility choice, and socioeconomic status and Epidemiological Transition Levels (ETLs).ResultsMultimorbidity prevalence in outpatient care (6.1%) was six times higher than in inpatient care (1.1%). It was most prevalent among older adults, higher MPCE quintiles, urban patients, and those with NCDs. Multimorbidity was associated with higher OOPE, particularly in the rich quintile, patients seeking care from private providers, low ETL states, and rural areas. CHE incidence was highest in low ETL states, private healthcare users, poorest quintile, males, and patients aged 70 + years. CHE intensity, measured by mean positive overshoot, was greatest among the poorest quintile, low ETL states, rural, and male patients. Log-linear and logistic regressions indicated that multimorbidity patients with NCDs, those seeking private care, and those in low ETL states had higher OOPE and CHE risk. The poorest rural multimorbidity patients had the greatest likelihood of experiencing CHE. Furthermore, CHE intensity was significantly elevated among multimorbidity patients with NCDs (95% CI: 19.29–45.79), patients seeking care in private, poorest, and from low ETL states (95% CI: 7.36–35.79).ConclusionsThe high financial burden of OOPE and CHE among multimorbidity patients, particularly those with NCDs, highlight the urgent need for comprehensive health policies that address financial risk at the primary care level. To alleviate the financial burden among multimorbidity patients, especially in low-resource settings, it is crucial to expand public healthcare coverage, incorporate outpatient care into financial protection schemes, advocate for integrated care models and preventive strategies, establish standardized treatment protocols for reducing unnecessary medications linked to polypharmacy, and leverage the support of digital health technologies.

Preservation empowered dual-warehousing for perishable product under trade-credit financing scheme incorporating diverse demand

This work addresses a dealer's operational planning problem for handling perishable product's two-level trade through a financially sustainable supply chain set-up under two-level trade-credit and dual-warehousing arrangement equipped with preservation technology. Financial support is provided to client at both levels of trade, under bilaterally agreed situation-based specific terms and conditions alleviating lean cash flow. Pivotal objective of this work is developing a mathematical model that supports this decision-making situation for optimising cost efficiency in supply chain operations. Formulating this mathematical model and its solution methodology are perplexing due to multiple cases divulging through the utilisation of warehousing arrangements combined with financial outcomes of two-level trade-credit settlements. Both are accomplished in this work. Ancillary models are further developed for evaluating strategic benefits of trade-credit financing and additional warehousing space availability. Implementations on real case-based multiple data sets are presented, wherein computational results confirm the capability of decision support developed on provisioning all circumstances of warehousing requirements and financial liabilities towards both levels of trade credit. Comparative analysis performed through computations on ancillary models establishes strategic benefits of addressed contemporary business practices. Furthermore, variational analysis is extensively performed for identifying crucial parameters pertaining to the stability of the developed decision mechanism.

The Application of Stochastic Processes in Financial Mathematics

Stochastic processes are crucial in financial mathematics, providing a framework to model the inherent uncertainties of financial markets. This paper explores stochastic process application across various financial domains, such as option pricing, risk management, and financial engineering. Through case studies, literature review, and case analysis, the study demonstrates the practical effectiveness of stochastic processes in finance. The findings highlight the adaptability and robustness of these models in capturing market dynamics and optimizing financial strategies. This research particularly focuses on the implementation of Brownian motion and Its processes in derivative pricing, revealing significant improvements in accuracy compared to traditional methods. Additionally, we examine the integration of machine learning techniques with stochastic models to enhance predictive capabilities in risk assessment. This study also addresses the challenges and limitations of current stochastic approaches, proposing innovative solutions for practical implementation. These insights contribute to both theoretical understanding and practical applications in quantitative finance, offering valuable guidance for practitioners and researchers in the field

Costs of outpatient services at selected primary healthcare centers in Bangladesh: A cross-sectional study.

Upazila Health Complexes (UzHC) serve as the backbone of primary healthcare (PHC) at the sub-district level in Bangladesh, delivering comprehensive healthcare services including both inpatient and outpatient services to the grassroots levels. However, not all the prescribed medicines and diagnostics services are always available at these facilities for outpatient care. This results in out-of-pocket expenditure (OOPE) to the patients for getting prescribed medicines and diagnostics services which has not been properly explored. Thus, we aimed to estimate the overall provider and user costs for outpatient care services at selected UzHCs in Bangladesh. An ingredient-based costing approach was applied to estimate the costs for the most commonly reported illnesses at outpatient of UzHCs from a societal perspective. We conducted a health facility survey at four purposively selected UzHCs to estimate provider costs and a patient exit survey among 452 patients of selected illnesses to estimate the user costs. Commonly reported illnesses were identified in consultation with healthcare providers of these facilities. The difference between costs of prescribed and provided medicines at UzHCs was estimated using the market prices. Data was collected between February to March 2021. The societal costs of the common outpatient illness or symptoms varied significantly, ranging from BDT 642 to BDT 1,384 per episode. Antenatal care had the highest cost burden at BDT 1,384, followed by respiratory illness at BDT 783 and urinary tract infection at BDT 670. On average, the provider spent BDT 289 for treating an outpatient, while a patient incurred BDT 446 as OOPE. Further, a patient was expected to spend an average of BDT 341 for purchasing medicines not provided from UzHCs. Our study found significant gaps between prescribed and provided medicines at UzHCs, leading to higher OOPE for patients. The current healthcare resource allocation strategy does not consider the outpatient load and healthcare demand at PHC facilities, which further exacerbates this gap. Addressing this gap requires a fundamental shift towards a demand-driven resource allocation model within the healthcare financing strategy to improve healthcare access and achieve health for all.

Prioritization and multilevel mapping of implementation strategies for a cancer rehabilitation navigation program.

Although determinants and strategies for implementing a cancer rehabilitation navigation (CRNav) program have been described, defining specific implementation interventions could improve uptake in oncology care delivery. This manuscript shares prioritized implementation interventions using a multilevel framework. We convened interdisciplinary stakeholders from two CRNav programs to participate in an implementation mapping focus group. Using a multilevel framework that considered provider-, clinic-, and system-level interventions, the focus group discussion guide sought participant input on specific interventions that needed to occur at each level to facilitate implementation. The focus group transcript was analyzed using deductive thematic coding to identify program implementation interventions at each level. The interventions were then shared with all stakeholders to seek agreement and prioritization using a modified Delphi process. A priori a 70% threshold was established to define agreement. Two rounds of Delphi were conducted. Fifteen stakeholders were recruited and nine participated in the focus group. The implementation mapping exercise identified 19 different interventions within the following Expert Recommendations for Implementing Change domains by level: provider level-use evaluative and iterative strategies, provide interactive assistance, train and educate stakeholders, support clinicians; clinic level-change infrastructure, support clinicians, adapt and tailor to context, use evaluative and iterative strategies; and system level-develop stakeholder interrelationship, use financial strategies, change infrastructure. Seven of 15 individuals completed both rounds of the Delphi. Fourteen interventions achieved agreement for high importance. Highest prioritized implementation interventions were develop a core champion team, develop a rationale for program justification, agree upon outcomes measures for the program, and examine and contextualize barriers that will influence the program. Clinical implementation of an innovative care delivery model requires attention to specific interventions that affect various levels within a health care system. These findings will inform future research and clinical efforts in the implementation of CRNav programs.

A thematic analysis of the effect of climate change on the South African banking sector

Climate change and its severe economic effects have become a critical issue in South Africa and globally. Both public and private entities are now actively promoting a greener environment, urging individuals and organisations to transition towards a lower-carbon economy. As climate change affects business operations, organisations have begun to assess and disclose the associated risks and opportunities to their stakeholders. While much of the focus in the literature has been on sectors with high greenhouse gas (GHG) emissions, research has shown that many other sectors also contribute to and are affected by climate change. One such sector is banking. The banking sector is both influenced by climate change and contributes to it, particularly through the operations it supports by extending funding. Banks are viewed as key players in driving the shift towards a lower-carbon economy by committing more to sustainable finance. Despite this, there is a lack of literature specifically addressing climate change in the banking sector. This study aims to fill that gap by exploring climate change's impact on banks in an emerging economy – South Africa. Using thematic content analysis, the research draws on reports of six banks prepared using the Task Force on Climate-related Financial Disclosures (TCFD) framework, revealing that banks face multiple risks due to climate change and play a crucial role in promoting sustainability through financing and risk management strategies. This study contributed to the literature by highlighting the intricate relationship between climate change and the banking sector in South Africa. The study also highlights areas that banks should focus on in the future to mitigate climate-related risks.

ENGLISH FOR FINANCE STUDENTS - PART 2

In a world where financial landscapes are constantly evolving, understanding the intricacies of finance becomes not just an asset but a necessity. This book, encompassing a wide range of financial topics, is crafted to demystify the complex world of finance for learners, enthusiasts, and professionals alike. Each lesson in this book is designed as a standalone module, allowing readers to dive into topics at their own pace and according to their interests. Starting with the "Fundamentals of Financial Planning," we lay the groundwork for sound financial understanding. As we progress, topics like "Digital Banking and Online Finance" and "The Role of Technology in Modern Finance" explore the digital revolution reshaping the financial sector. We delve into specific markets with lessons on "Stock Market Indices," "Real Estate Investment Basics," and "Commodities Trading," offering insights into different investment avenues. The book also addresses critical issues such as "Financial Consumer Protection" and "Cybersecurity in Financial Transactions," emphasizing the importance of security in the digital age. Global financial mechanisms are unraveled in lessons like "Understanding the International Monetary Fund (IMF)" and "Global Trade Financing," providing a macroeconomic perspective essential for grasping international finance. The chapters on "The Rise of Cryptocurrencies" and "History of Ethereum" bring readers to the forefront of modern financial innovation, while "Understanding the OneCoin Scam and Scandal" and "Understanding Pyramid Schemes in Finance" serve as cautionary tales highlighting the importance of vigilance in investments. For entrepreneurs, "Financial Literacy for Entrepreneurs" and "Starting and Growing Your Business: Financial Strategies for Entrepreneurs" offer practical guidance on managing and growing a business effectively. We also explore economic systems and government policies in chapters like "Understanding the Communist Economic System" and "Understanding the Cuban Government and Economic System." As we approach the culmination of this journey, "Jobs That May Disappear Due to AI in the Future" and "Understanding the Possibility of a Global Financial Collapse" prompt readers to think about the future of finance and its challenges. This book is more than just a collection of financial lessons; it's a guide to navigating the ever-changing currents of the financial world. Whether you're a student, a professional, or simply curious about finance, these pages are designed to enlighten and empower you in your financial journey.

Integrating Risk Management and Communication Strategies in Technical Research Programs to Secure High-Value Investments

Securing high-value investments, such as large-scale research grants, requires a strategic approach that integrates effective risk management and communication strategies. In the context of technical research programs, where complexity, uncertainty, and innovation are central, these elements play a crucial role in ensuring success and sustainability. This paper proposes a framework that combines risk assessment with targeted stakeholder engagement to enhance the likelihood of securing substantial funding. The framework emphasizes the identification, analysis, and mitigation of risks, particularly those related to technological feasibility, project timelines, and financial sustainability. It also underscores the importance of proactive communication with stakeholders, including funding agencies, researchers, and external collaborators, to foster trust and align expectations. The proposed framework begins with a comprehensive risk assessment phase, where potential risks are identified and categorized based on their impact on the program's objectives. These risks include technological challenges, regulatory issues, market uncertainties, and internal resource constraints. Once identified, the framework suggests the implementation of mitigation strategies, such as adopting flexible project timelines, securing backup funding sources, and leveraging partnerships with industry leaders. The integration of real-time monitoring tools and adaptive risk management protocols ensures that potential issues are addressed promptly throughout the program lifecycle. Equally important is the communication strategy, which aims to build and maintain strong relationships with stakeholders through transparent, timely, and targeted communication. By aligning the research program's objectives with the priorities and concerns of funding bodies, the framework increases the likelihood of receiving large-scale grants. The communication plan also addresses how to demonstrate the program’s potential impact, progress, and risk mitigation efforts effectively to secure continuous funding. Ultimately, this integrated approach strengthens the competitiveness of technical research programs and enhances their ability to attract high-value investments. The paper concludes by discussing the framework’s potential applications across various technical research sectors, including healthcare, energy, and engineering. Keywords: Risk Management, Communication Strategy, Technical Research Programs, Stakeholder Engagement, High-Value Investments, Grant Securing, Risk Mitigation, Funding Strategy.

Exchange Rate, Dividend Policy, and Capital Structure: Their Impact on Stock Returns in Jakarta Islamic Index Companies (2019–2023)

This study aims to analyze the impact of exchange rates, dividend policies, and capital structures on stock returns of JII-listed companies from 2019-2023, considering unique characteristics and adherence to Sharia principles. This study uses a qualitative method, employing purposive sampling techniques to determine the sample and then analyzing it using multiple linear regression with the SPSS 25.0 application. The sample in this study consists of 23 companies listed on the IDX that are included in the JII index and are non-bank companies. The results of this study found that the exchange rate has a positive effect on stock return. Dividend policy, measured using the dividend payout ratio (DPR), has a negative and significant effect on stock return. Capital structure, measured using the debt to equity ratio (DER), has a negative and significant effect on stock return. Meanwhile, simultaneously, the variables of exchange rates, dividend policies, and capital structures have a significant effect on stock return. The findings provide valuable insights for investors and companies seeking to make informed investment decisions and develop effective financial strategies aligned with Sharia principles. The study contributes academically to sharia-based finance literature and offers practical implications for market participants in the Islamic capital market.

Analisis Laporan Keuangan Perbandingan Kinerja Keuangan Perusahaan Sektor Perdagangan di Indonesia (Studi pada PT. Alfamidi PT. Alfamart PT. Indofood PT. Hero Supermarket Periode 2019-2023)

This research aims to analyze the financial performance of trade sector companies in Indonesia, specifically PT. Alfamidi, PT. Alfamart, PT. Indofood, and PT. Hero Supermarket, in the period 2019-2023. This study uses a variety of financial ratios as a measuring instrument for assessing company performance, such as liquidity ratios (current ratios and quick ratios), activity ratios (receiving receivables, inventory, and fixed assets), and profitability ratios (profit margins, returns on assets, and return on equity). Through comparison of these ratios, this study aims to provide a comprehensive picture of the efficiency, profitability, and financial stability of each company. The results of the analysis show that PT. Hero Supermarket has a relatively superior performance in terms of return on equity (ROE) and return on assets (ROA), while PT. Indofood faces challenges in maintaining profitability and asset efficiency. PT. Alfamidi and PT. Alfamart showed stable performance even though he still had room for improvement in operational efficiency. This finding provides useful insights for stakeholders in making investment decisions as well as for these companies in formulating better financial management strategies in the future.

Understanding farmers’ intentions and challenges in organic farming: Policy recommendations for sustainable transition

This paper investigates farmers' intentions toward adopting organic farming practices and the associated challenges they encounter. Through a combination of surveys, interviews, and field observations, the study reveals a notable interest among farmers in transitioning to organic farming but identifies significant barriers that prevent this shift. Key challenges include limited availability and high costs of organic inputs, inadequate technical support, and financial constraints. The findings highlight the urgent need for policy interventions to address these issues effectively. Recommendations for policymakers include improving access to affordable organic inputs, expanding educational and technical support programs, and implementing financial assistance schemes to alleviate initial investment burdens. By addressing these challenges, policymakers can facilitate a smoother transition to organic farming, supporting farmers in their pursuit of sustainable agricultural practices and contributing to the overall resilience and sustainability of the agricultural sector.

Corporate Financing Choices in the Low-Interest-Rate Era

Since 2024, an increasing number of companies have opted to raise funds by issuing bonds while repaying bank loans. This trend can be attributed to the current floating interest rate mechanism for loans, contrasted with the fixed-rate system for debt securities. In an era of steadily declining Loan Prime Rates (LPR), many companies are choosing to issue bonds to lock in long-term low rates, thereby reducing financing costs. In this context, this paper combines the macroeconomic variable of interest rates with the microeconomic variable of corporate financing choices to explain the new preferences that companies exhibit in the low-interest-rate era. It also analyzes potential issues, such as depreciation tendencies and the risk of debt default, and offers relevant recommendations, such as establishing a sound debt management system and strictly controlling borrowing scale. From a theoretical perspective, this paper examines the process of interest rate liberalization in China since the 1980s, using theories such as the Modigliani-Miller theorem, tax shield theory. It outlines the path toward a fully market-based interest rate system. Based on multiple LPR cuts, this years sharp decline in renminbi loans, and the increased use of bond financing, the paper concludes that Chinas interest rate liberalization has reached a relatively mature stage. It suggests that for the foreseeable future, China will remain in a low-interest-rate period, with companies continuing to adjust financing strategies in response to interest rate movements, increasingly opting for bonds over loans to secure low rates and achieve further capital expansion.

A Case Study of Financial Integration in Cross-Border Mergers and Acquisitions

This paper focuses on the financial integration strategies used by Microsoft and Tesla in recent cross-border mergers and acquisitions (M&As), with a particular focus on their acquisitions of Nuance Communications and Maxwell Technologies, respectively, and analyzes and highlights the importance of strategic financial integration in achieving synergies, managing goodwill, and navigating regulatory and cultural complexities. For Microsoft, the acquisition of Nuance was intended to enhance its artificial intelligence capabilities in healthcare and enterprise services, while Tesla's acquisition of Maxwell was intended to secure a key technological advantage in electric vehicle (EV) battery production. In addition, both companies faced a range of challenges in aligning financial systems, managing cost structures, and ensuring compliance with international regulatory standards. Drawing on relevant literature to contextualize the case studies, this paper discusses how such companies conducted financial integration and how their experiences may impact future cross-border M&A transactions. The findings suggest that financial integration is critical to maximizing value in cross-border M&As, and that effective management of this process plays an important role in the long-term success of the firm.

Understanding Vasectomy Services’ Models of Care, Training, and Financing Among Title X Family Planning Providers

Background and Objective: Recent evidence suggests an increased demand for vasectomies following the Supreme Court’s Dobbs v. Jackson Women’s Health Organization overturning Roe v. Wade. Limited published information on vasectomies provided by publicly funded agencies exists. This study seeks to understand and document vasectomy services in Title X Family Planning health centers, including models of care, provider training, and financial strategies. Methods: We held qualitative interviews with 22 Title X organizations. Through an iterative, thematic analysis, our research team coded the data to produce findings illustrating the landscape of vasectomy service provision in Title X Family Planning health centers. Results: This qualitative research study indicated 3 central components of vasectomy care in publicly funded Title X clinics: models of care, finance models, and provider training. Individual approaches varied considerably depending on organization size, funding, provider types, and policy climate. Conclusions: This study confirms that a host of barriers exist to providing vasectomy services in publicly funded or “safety net” clinics, including: (1) Limited opportunities for provider training, (2) federal and state 30-day waiting periods for informed consent, and (3) low reimbursement rates. The study informs options for addressing these barriers in publicly funded settings.

Modelling the interactions between project payment systems, financial management strategies, and construction companies’ performance

Modelling the interactions between project payment systems, financial management strategies, and construction companies’ performance

Effectiveness analysis of largest financial inclusion schemes in India

Effectiveness analysis of largest financial inclusion schemes in India

Green bonds and clean energy stocks: Safe havens against global uncertainties? A wavelet quantile-based examination

The renewable energy sector has seen rapid investment growth over the last decade, with Green Bonds (GB) and Clean Energy Stocks (CLE) emerging as critical components of sustainable finance. Using daily data from 2013 to 2023, this study investigates the diverse roles of GB and CLE as potential safe havens under Geopolitical Risks (GEO) and Economic Policy Uncertainty (ECU). Applying an advanced Wavelet Quantile Regression (WQR) approach, we assess their effectiveness across different time horizons and risk conditions. The findings reveal that GB consistently offer stronger protection against economic risks, particularly in the short to mid-term, while CLE are more effective in shielding against geopolitical risks. Over longer periods, GB maintain their safe haven status, while CLE’s protective capabilities diminish. The results also highlight that GB and CLE behave differently across quantiles, with GB showing stability across extreme market conditions, making it a more reliable hedge overall. This study offers valuable policy insights for key stakeholders. Policymakers are encouraged to integrate GB and CLE into sustainable finance strategies, investors can mitigate risk by blending these assets, and portfolio managers should adjust allocations dynamically based on evolving market conditions. The results underscore the importance of green assets as hedges in times of global uncertainty, contributing to the growing literature on sustainable finance.

Logistics Financing Strategies and Economic Growth in Kenya: A conceptual Framework

Logistics financing is a critical component of economic growth, particularly in Kenya, where the sector faces numerous challenges, including poor credit management, limited financial resources, and high operational costs. This paper explores innovative logistics financing strategies and their potential to improve the financial performance and competitiveness of logistics firms in Kenya, especially in Mombasa County. The research highlights the importance of effective credit management, the role of machine learning models in mitigating credit risks, and innovative financing mechanisms such as third-party logistics and digital credit. Additionally, it discusses the broader economic implications of logistics on key sectors like agriculture, floriculture, and tourism. By reviewing empirical studies and theoretical frameworks, this paper proposes a conceptual model illustrating the relationship between logistics financing strategies and economic growth. The findings suggest that innovative financial solutions, including value innovation and working capital management, are essential for fostering an efficient logistics sector that contributes to Kenya’s economic development.

Corporate financial strategies and performance: Insights from China’s Shanghai Stock Exchange

This study investigated the impact of corporate financial strategies-(CFSs) on the performance of companies listed on the Shanghai Stock Exchange-(SSE) from 2010-2023, analyzing data from 2,269 firms, yielding 31,766 balanced firm-year observations. Utilizing a mixed-methods approach with a quasi-experimental design grounded in pragmatism, the inquiry employed two-step System-GMM technique to address endogeneity, simultaneity, heteroscedasticity, reverse causality and Nickell bias. Fixed effects-(FE) and random effects-(RE) models were applied to handle unobserved heterogeneity, omitted variable bias and guarantee robustness. The results revealed that, total-debt-to-assets-ratio-(TDTAR) and dividend yield-(DY) significantly and negatively impacted firm performance-(FP), measured by return on assets-(ROA) and Tobin’s Q-(TQ). Contrary, cash conversion cycle-(CCC), current ratio-(CR), total-assets-turnover-(TAT), tangibility-(TANG), total-equity-to-total-assets ratio-(TETAR), dividend payout ratio-(DPR), firm size-(SIZE), and firm age-(AGE) had a significantly positive effect on FP-(ROA and TQ). The study emphasizes the importance of effective CFSs in improving FP and offers insights for policymakers, investors, and managers, highlighting the need for corporate deleveraging, capital structure optimization and efficient asset and working capital management. Although focused on China, the study’s framework is applicable to other emerging markets, providing valuable theoretical, conceptual, and methodological insights as it integrates CFS metrics into the resource-based view theory-(RBVT), extending the theory’s scope making it more robust and generalizable.