Potential Financial Benefits Research Articles

Do metaverse implementation announcements enhance firms’ stock market value in China? A signaling theory perspective

PurposeThe metaverse has garnered increasing attention from researchers and practitioners, yet numerous firms remain hesitant to invest in it due to ongoing debates about its potential financial benefits. Therefore, it is crucial to analyze how the implementation of metaverse initiatives affects firms’ stock market value – an area that remains underexplored in the existing literature. Additionally, there is a significant lack of research on the contingency factors that shape the stock market reaction, leaving a noticeable gap in managerial guidance on the timing and benefits of investments in the metaverse. To narrow these gaps, we examine whether and when the implementation of metaverse initiatives enhances firms’ stock market value.Design/methodology/approachBased on 73 metaverse implementation announcements disclosed by Chinese listed firms during January 2021–August 2023, we employ an event study approach to test the hypotheses.FindingsWe find that metaverse implementation announcements elicit a positive stock market reaction. Moreover, the stock market reaction is stronger for technology-focused announcements and smaller firms, or when public attention to the metaverse is higher. Nevertheless, firms’ growth prospects do not significantly alter the stock market reaction.Originality/valueThis study extends the nascent literature on the metaverse by applying signaling theory to offer novel insights into the signaling effect of metaverse implementation announcements on stock market value and the boundary conditions under which the effectiveness of the signal varies. Besides, it provides managers with important implications regarding how to tailor the investment and information disclosure strategies of the metaverse to more effectively enhance firms’ stock market value.

The Advent of Generative AI and Financial Industry

Purpose: This paper explores the recent literature on Generative AI applications in the financial industry and delineates its role in the future. Methodology: Our paper follows secondary research analyzing current literature on Generative AI in finance. It is one of the essential tools for understanding background information, identifying research problems, and filling the literature gaps. This paper studies how Generative AI has potential financial benefits and risks, providing unique insights into the financial landscape in the coming years. Findings: The findings unveil that Generative AI can become a strategic tool to redefine financial services and operational effectiveness. It can substantially improve the services by reducing costs, bringing efficiency, and enhancing corporate performance. It has the enormous transformative power to revolutionize client product and service offerings, improving risk management assessments and bringing efficiency to operations. However, our study indicates that the financial service industry can get into practices and decisions that are potentially unethical and financial exclusion due to an embedded bias in its algorithm and design of Generative AI technologies. Since Generative AI continues to evolve, its role and effectiveness in decision-making are expected to shape the financial services landscape significantly. Unique Contribution to Theory, Practice, and Policy: Generative AI can be a game changer for the financial industry, fueling digital transformation across industries. The transformative potential of generative AI can optimize operations, revolutionize customer experiences, and drive innovation seamlessly in finance. Our paper suggests how policymakers can foresee the challenges ahead due to the Generative AI in finance services, which is challenging the existing regulatory landscape. To stay ahead in the competition, financial firms must balance data privacy and algorithmic bias and ensure the responsible use of AI.

The “6th R” of sustainability: Repurposing operating room waste for community benefit

BackgroundOperating rooms contribute greatly to hospital waste and greenhouse gas production. Efforts to “green the operating room” have focused on the 5R's of sustainability: reduce, reuse, recycle, rethink, and research. We propose a “6th R” —repurposing— as simple yet effective means of addressing operating room waste. MethodsClean, non-reusable surgical supplies were collected from a satellite facility of a children's hospital during a six-week pilot program. Materials were catalogued and repurposed throughout the community. The potential financial benefits were estimated based upon the value of repurposed goods and savings from reduced waste disposal. ResultsOver 960 items were collected during the 6-week pilot. Materials ranging from plastic trays to surgical towels were donated to organizations throughout the community. Approximate retail value of repurposed items was over $1200. When extrapolated to the entire hospital system, these repurposing efforts could account for over $50,000 in donations and $1300 in operational savings over a calendar year. ConclusionsRepurposing unused surgical items provide environmental, societal, and financial benefits, all while promoting more sustainable healthcare systems.

Does sovereign ESG shape corporate cash management in emerging markets?

Environmental, social, and governance aspects are becoming increasingly crucial factors for investors decisions. This paper examines the effect of sovereign environmental, social, and governance (SESG) practices on the cash-holding decisions of firms in the Gulf Cooperation Council (GCC) region. Utilizing firm-level data from 2010 to 2022, we find that improved SESG standards lead firms to reduce their cash holdings. The results are robust to sample selection, additional control variables, different estimation methods, and endogeneity concerns. Furthermore, we show a negative relationship between each SESG pillar (environmental, social, and governance) and corporate cash holdings. These findings offer valuable empirical implications for various stakeholders. Regulators can consider the potential impact of SESG standards on corporate financial health, potentially informing future regulations. Shareholders can leverage these findings to assess the potential financial benefits of strong SESG adherence by the companies in which they invest.

Exploring the Socio-economic Ramifications of Health Literacy and Medication Adherence on Hypertensive Patients

"This analysis examines the intricate interactions that exist link medication adherence, health literacy, and the socio-economic effects on individuals with hypertension. Hypertension, one of the most prevalent chronic conditions worldwide, requires in-depth understanding of the intricate relationships that exist between patients’ access to health information, adherence to prescribed treatment plans, and the broader socio-economic context. The appraisal reviews recent studies on the health literacy’s effect on hypertension patients’ adherence to medicine, with a focus on the contributions of social, institutional, and personal factors. It also examines the socio-economic consequences of low medication adherence and health literacy, emphasizing disparities in healthcare outcomes, increased medical costs, and worse life quality. This study looks at different methods to raise the level of health literacy and medication adherence in hypertensive populations, both individual and systemic. It emphasizes the significance of patient education programs, tailored communication strategies, and system innovations to address the unique challenges confronted by people with differing degrees of health knowledge. Furthermore, the study investigates the potential financial benefits of enhancing medication compliance and health literacy, illustrating how targeted interventions could reduce medical expenses, prevent problems, and foster a more robust community. It emphasizes the need for collaboration between lawmakers, communities, and medical professionals in order to enact workable policies and decrease the socio-economic toll that hypertension has. The intricate interactions between medication adherence, health literacy, and socio-economic determinants in relation to hypertension are highlighted in the analysis’s conclusion. By understanding and addressing these characteristics, healthcare stakeholders can develop targeted treatments to improve outcomes for patients with hypertension, advance health equity, and improve societal well-being."

Lifetime Medical Spending Attributed to Incident Type 2 Diabetes in Medicare Beneficiaries: A Longitudinal Study Using 1999-2019 National Medicare Claims.

To estimate lifetime incremental medical spending attributed to incident type 2 diabetes (T2D) among Medicare beneficiaries by age at diagnosis, sex, and race/ethnicity. We used the 1999-2019 100% Medicare fee-for-service claims database to identify a cohort of beneficiaries with newly diagnosed T2D in 2001-2003 using ICD codes. We matched this cohort with a nondiabetes cohort using a propensity score method and then followed the two cohorts until death, disenrollment, or the end of 2019. Lifetime medical spending for each cohort was the sum of expected annual spending, a product of actual annual spending multiplied by the annual survival rate, from the age at T2D diagnosis to death. Lifetime incremental medical spending was calculated as the difference in lifetime medical spending between the two cohorts. All spending was standardized to 2019 U.S. dollars. Medicare beneficiaries with newly diagnosed T2D, despite having a shorter life expectancy, had 36-40% higher lifetime medical spending compared with a comparable group without diabetes. Lifetime incremental medical spending ranged from $16,115 to $122,146, depending on age at diagnosis, sex, and race/ethnicity, declining with age at diagnosis, and being highest for Asian/Pacific Islander and non-Hispanic Black beneficiaries. The large lifetime incremental medical spending associated with incident T2D underscores the need for preventing T2D among Medicare beneficiaries. Our results could be used to estimate the potential financial benefit of T2D prevention programs both overall and among subgroups of beneficiaries.

Weather event characterization: a catalyst for improved spatial mapping and benefit quantification in winter road maintenance

Monitoring winter road surface conditions (RSC) is essential for optimizing winter road maintenance operations and ensuring public traffic safety and mobility. However, many existing RSC estimation methods focus primarily on local or site-specific conditions, thus lacking effectiveness in comprehensive spatial mapping under varying winter weather events. Additionally, the potential financial benefits these methods could provide to maintenance authorities remain largely unexplored. This study addresses these gaps by introducing a refined methodology that harnesses the K-Means algorithm to characterize various weather events – a significant stride towards improving the generalizability and accuracy of road surface temperature (RST) estimations. The study also incorporates regression kriging (RK), a renowned geostatistical technique, as an integral component of a system for constructing an extensive spatial map of RSC across large highway networks. This strategy maximizes the use of data from existing road weather information systems (RWIS) to bridge their large spatial gaps. This study further quantifies the potential savings derived from optimally placing RWIS stations and reducing traffic collisions. The efficacy of these methods is validated through a real-world case study on two major interstate highways in Iowa, US, with RST estimation discrepancies as low as 0.619 °C. The findings also indicate potential cost savings by conserving up to 10 RWIS stations, which can be further translated into monetary savings of RWIS capital costs, traffic collisions prevention, enhanced traffic mobility and savings in maintenance material usage.

Evaluating the impact of wood flow management software on administrative costs and efficiency for wood suppliers in the Southeastern U.S.: a case study of Timber Resource Analytics and Contract Tracking software

The southeastern U.S. forest industry serves as a crucial source of raw materials for construction and paper production for the global economy. However, this industry faces persistent challenges in wood supply chain management, often centered around logistical inefficiencies and administrative burdens. Additionally, increased operational overhead, due to rising costs, has exerted strain on the business success of wood suppliers. Administrative procedures and record keeping have traditionally been a labor-intensive process for this sector of the wood supply chain. However, technological solutions, such as new wood flow and logistics management software, can enhance efficiency and cost-effectiveness of these procedures. This research investigated the impact of wood flow management software on administrative costs for southeastern U.S. wood suppliers. Utilizing a case study approach, we compared administrative time and cost savings of software users and non-software users, to determine potential financial benefits of software adoption. The research design centered on gathering insight from both user groups, through individual interviews, allowing for a comparative analysis of the software’s efficiency metrics. Results indicated that wood suppliers who utilized software saved an average of 43 hours per week on administrative tasks, resulting in estimated annual savings of approximately $62,000 United States dollars (USD). The greatest reported time and cost savings were attributed to scheduling jobs and organizing information. Adoption of wood flow logistics software may result in additional monetary savings through increased efficiency in administrative procedures and communications. These research findings will be useful to wood suppliers interested in improving operational efficiency and reducing administrative costs.

Hydrogen from food waste: Energy potential, economic feasibility, and environmental impact for sustainable valorization

Globally, inefficient management of municipal solid waste, composed primarily of food waste poses concern for human and environmental well-being. Food waste can be converted into hydrogen gas, which can be utilized to generate power without emitting any harmful pollutants. This solution would also help with the issue of disposing of food waste. The conversion of food waste into hydrogen is a practical energy source with potential financial benefits. This study explores the transformative potential of converting food waste into renewable energy through hydrogen production, focusing on Bangladesh from 2023 to 2042. Notably, the study forecasts a surge in food waste from 23 million tons in 2023–110 million tons by 2042. By 2042, food waste is expected to generate 2480 MW of power, a rise from 489 MW in 2023. Based on the results of the economic study, the food waste into hydrogen via gasification project is financially viable in all of Bangladesh's main cities. Metrics such as internal rate of return, payback period, levelized cost of energy, net present value, and total life cycle cost were used to assess economic viability. The hydrogen production cost, payback period, and internal rate of return are 2.05 $/kg, 11 years and 14% respectively. It was discovered that using the available electricity from hydrogen gas may displace 1428 M liters of diesel fuel combustion. The quantity of diesel fuel saved can cut carbon dioxide emissions by 3.85 million tons. It was also found that using hydrogen as a source of energy generation has an attractive ecological efficiency of 99.98%. This research provides novel and pertinent data for investors contemplating gasification-based energy projects in Bangladesh. It pioneers a path toward eco-friendly waste management, reduced greenhouse gas emissions, and the adoption of sustainable energy solutions for the country.

The Impact of Environmental Accounting Information Disclosure on Financial Risk: The Case of Listed Companies in the Vietnam Stock Market

This research study aims to assess the impact of environmental accounting information disclosure on financial risk within the context of Vietnam’s stock market. The data collection process involved 60 non-financial companies, carefully selected from both the pool of 100 Sustainable Companies listed in the “Programme on Benchmarking and Announcing Sustainable Companies in Vietnam (CSI)”, as organized by VBCSD, and companies outside this list. The data span a timeframe from 2018 to 2022. Afterward, we utilize regression models to assess relationships and employ the t-test to evaluate differences. The results indicate that environmental accounting information disclosure has an inverse effect on the financial risk of the current year and the following year. This implies that companies that are more transparent and proactive in reporting their environmental performance are likely to experience decreased financial risk. Furthermore, the results also show differences in financial risk between the group of companies within the “100 Sustainable Companies” list and the group of companies outside this list. This disparity underscores the potential financial benefits of being recognized as a sustainable company. Based on the findings, the research team has provided several recommendations to enhance environmental accounting information disclosure and awareness.

Financial and economic rationale for using emerging cell therapy technologies for treatment of traumatic injuries of the central nervous system in high technology healthcare

Trauma of the spinal cord is a severe injury of the structure of the central nervous system leading to deep and enduring disability in most patients. Treatment and rehabilitation of such patients are associated with high costs to the state. Disability imposes even greater financial burden: loss of ability to work, expenses for financial assistance, yearly reha‑ bilitation, etc. Currently, methods of regenerative medicine are being actively developed and they are promising from the clinical point of view. However, effective treatment of spinal cord injury and recovery of even partial ability to work in patients should also have positive results from the financial standpoint. In 2018, we have completed the first part of a clinical trial confirming safety and high effectiveness of systemic use of umbilical-placental blood in the acute period of spinal cord injury. Based on the trial results, we have calculated potential financial benefit for the state from development of new methods of regenerative therapy for treatment of spinal cord injuries. In this article, we present financial and economic rationale for using such trials in current conditions.

Cognitive Function and Upper Limb Rehabilitation Training Post-Stroke Using a Digital Occupational Training System.

Stroke rehabilitation often requires frequent and intensive therapy to improve functional recovery. Virtual reality (VR) technology has shown the potential to meet these demands by providing engaging and motivating therapy options. The digital occupational training system is a VR application that utilizes cutting-edge technologies, including multi-touch screens, virtual reality, and human-computer interaction, to offer diverse training techniques for advanced cognitive capacity and hand-eye coordination abilities. The objective of this study was to assess the effectiveness of this program in enhancing cognitive function and upper extremity rehabilitation in stroke patients. The training and assessment consist of five cognitive modules covering perception, attention, memory, logical reasoning, and calculation, along with hand-eye coordination training. This research indicates that after eight weeks of training, the digital occupational training system can significantly improve cognitive function, daily living skills, attention, and self-care abilities in stroke patients. This software can be employed as a time-saving and clinically effective rehabilitation aid to complement traditional one-on-one occupational therapy sessions. In summary, the digital occupational training system shows promise and offers potential financial benefits as a tool to support the functional recovery of stroke patients.

Cannabis in Wisikk: a tempting venture

Research methodology This case was developed using a mixture of publicly available documents created by the partner community, general information from public sources like the First Nations Finance Authority (FNFA) website and Government of Canada websites, and personal and first-hand experience of the indigenous coauthor, Storm Gould. Case overview/synopsis Wisikk is a Mi’kmaq sovereign reserve territory located in Mi’kmaq’ki in the place that settler governments call Nova Scotia. The community has existed in its location since time immemorial and has been recognized by the settler government since the early 19th century. An opportunity for community-run business has arisen for Wisikk based on the legalization of cannabis throughout Canada in 2018. This case’s protagonist is the community’s Vice-President for Business Development, Andrew Googoo, as he considers bringing a proposal for a cannabis retailing venture to the Chief and Council. Cannabis legalization in Canada left sales policies to the provinces and was silent as to the rules governing cannabis sales by indigenous communities on their sovereign territory. Considering both potential negative impacts to the community, as well as the potential financial benefits from a successful reserve-based cannabis dispensary, Andrew must soon present his initial findings to the Chief and Council for their deliberation and decision. Any venture undertaken by the reserve would require a loan from the FNFA, so Andrew must also consider the projections and reports that the FNFA would require to support their lending decision. Complexity academic level The case is appropriate for mid-level or capstone undergraduate and graduate business courses, especially those focused on entrepreneurship, business ownership or indigenous ownership. The case was originally developed for the accounting division of an international undergraduate case competition. In addition to accounting concepts like pro forma/budgeted income statements and decision analysis, it is intended to showcase some legal and cultural features of community-led indigenous business ventures. The idea is for students to explore concepts of sovereignty, community involvement and broader stakeholder impact, as well as more technical accounting and financial concepts.

Reaction Environment Design for Multigram Synthesis via Sonogashira Coupling over Heterogeneous Palladium Single-Atom Catalysts.

Single-atom heterogeneous catalysts (SACs) attract growing interest in their application in green chemistry and organic synthesis due to their potential for achieving atomic-level precision. These catalysts offer the possibility of achieving selectivity comparable to the traditionally applied organometallic complexes, while enhancing metal utilization and recovery. However, an understanding of SAC performance in organic reactions remains limited to model substrates, and their application as drop-in solutions may not yield optimal activity. Here, we investigate the previously unaddressed influence of the reaction environment, including solvent, base, cocatalyst, and ligand, on the performance of a palladium SAC in Sonogashira-Hagihara cross-couplings. By examining the effects of different solvents using the established criteria, we find that the behavior of the SAC deviates from trends observed with homogeneous catalysts, indicating a distinct interplay between heterogeneous systems and the reaction environment. Our results illustrate the satisfactory performance of SACs in cross-couplings of aryl iodides and acetylenes with electron-withdrawing and -donating groups, while the use of bromides and chlorides remains challenging. Extending the proof-of-concept stage to multigram scale, we demonstrate the synthesis of an intermediate of the anticancer drug Erlotinib. The catalyst exhibits high stability, allowing for multiple reuses, even under noninert conditions. Life-cycle assessment guides the upscaling of the catalyst preparation and quantifies the potential environmental and financial benefits of using the SAC, while also revealing the negligible impact of the PPh3 ligand and CuI cocatalyst. Our results underscore the significant potential of SACs to revolutionize sustainable organic chemistry and highlight the need for further understanding the distinct interplay between their performance and the reaction environment.

Models and algorithms for the preventive maintenance optimization of railway vehicles

The motivation of this paper follows strictly from industrial needs to improve competitiveness in railway companies by the efficient rolling stock utilization affected by the obligatory preventive maintenances of vehicles, which cause their temporary unavailability. Nevertheless, it is economically essential to minimize the total time on maintenances of vehicles, which can be achieved in a certain range by the scheduling of transport tasks taking into account maintenance policies of the vehicles, their mileage and date since the last maintenance, and the workload related to the tasks. Therefore, to face the problem, we model the consider issue as the job scheduling problem to maximize the availability of railway vehicles under preventive maintenances. We prove that the problem is strongly NP-hard and we propose efficient heuristic and metaheuristic algorithms that are characterized by a low computational complexity and they are able to find solutions satisfying from the perspective of industrial practice. The simulations based on real-life data reveal that our approach can provide schedules, which significantly improve availability of locomotives resulting in high potential financial benefits for railway companies.

Rosa Damescana: A review of its conventional uses Phytochemistry and Pharmacology

In the past ten years, the use of herbal and ayurvedic medications has gained international attention due to their potential medicinal and financial benefits. The consistency, safety, and effectiveness of herbs have come under scrutiny due to their extensive use throughout the world. Also known as Black Cutch, Acacia catechu wild is employed for several pharmacological and phytochemical functions. In Indian traditional medical systems, it is a very powerful medicinal plant. As a result, providing adequate logical support or evaluation for herbal health arguments has become the standard. This article examines traditional knowledge or claims, phytochemical and pharmacological justifications, as well as pharmacogenetic reasoning, and the plant's prospective applications. Since ancient times, people have been taking advantage of the earth's resources to discover novel phytoconstituents that can be used to cure a wide range of illnesses. Many of these treatments are still useful in today's medicine. The search for potent natural and fresh semi-synthetic or copied compounds to treat human ailments is still ongoing, according to emerging data, and it is leading to the discovery of novel potent natural and fresh semi-synthetic or copied compounds.

Implementing Lean Six Sigma in financial services: the effect of motivations, selected methods and challenges on LSS program- and organizational performance

PurposeThe purpose of this paper is to contribute to the limited body of empirical knowledge on the impact of Lean Six Sigma (LSS) program implementations on organizational performance in financial services by investigating how antecedents of Lean Six Sigma program success (motivations, selected LSS methods and challenges) affect organizational performance enhancement via LSS program performance.Design/methodology/approachA sample of 198 LSS professionals from 7 countries are surveyed. Structural equation modeling (SEM) is performed to test the questioned relations.FindingsThis study’s findings comprise: (1) LSS program performance partially mediates the relationship between motivations for LSS implementation and organizational performance, (2) selected LSS method applications has a fully (mediated) indirect impact on organizational performance, (3) LSS implementation challenges also have an indirect (mediated) impact on organizational performance and (4) LSS program performance has a positive impact on organizational performance.Originality/valueThe findings of this research predominantly provide nuances and details about LSS implementation antecedents and effects, useful for managers in advising their business leaders about the prerequisites and potential operational and financial benefits of LSS implementation. Furthermore, the paper provides evidence and details about the relationship between important antecedents for LSS implementation identified in existing literature and their impact on organizational performance in services. Thereby, this research is the first in providing empirical, cross-sectional, evidence for the antecedents and effects of LSS program implementations in financial services.

Non-monetary narratives motivate businesses to engage with climate change.

The dominant narrative to motivate business actors to take climate actions emphasizes opportunities to increase monetary gains, linking sustainability to the financial goals of these organizations. The prevalence of monetary motivations in sustainability communication among businesses, consultancies, academics and international organizations has made this narrative a truism in the private sector. We conducted an online, real-world, large-n experiment to evaluate the comparative effectiveness of different motivations using narrative communication. We show that non-monetary narratives highlighting prosocial or achievement motivations are 55% more effective in creating responses from businesses than narratives emphasizing monetary gains. These findings are robust across most narrative and audience characteristics, including age and language. Our findings suggest that communication towards business leaders around sustainability can be multi-pronged and should incorporate prosocial and achievement motivations aside from articulating potential financial benefits.

Overuse of caesareans: Potential healthcare and financial benefits of prenatal education.

Overuse of caesareans: Potential healthcare and financial benefits of prenatal education.

Lack of Collaboration on the CEP Market and the Underlying Reasons—A Systematic Literature Review

The scientific community has been addressing the topic of last-mile delivery for years. To improve parcel delivery efficiency, a variety of different technologies have been created. Over the past 15 years, the focus has shifted from the operational efficiency of the individual organization to restoring sustainability and making cities more livable. As a result of the increased environmental burden, governments are enacting a growing number of restrictive measures, which will intensify economic challenges. To remain competitive, more cost-effective solutions are required. The goal of this article is to examine the significance of collaboration between CEP partners based on scientific interest, with the help of a systematic literature review. This examination is important since, despite the fact that working together with other service providers and competitors could be a favorable option for last mile suppliers looking to improve their efficiency, results show little interest in this approach. Although this strategy appears straightforward due to the potential financial and environmental benefits, there are only a few examples of collaboration in the field of last mile parcel delivery according to the results of the review. Since cooperation seems to be an inevitable operating model of the CEP market in the future, it is of utmost importance for scientific research to investigate the factors hindering the development of cooperation.