The increasing penetration of photovoltaic (PV) generation in low-voltage distribution networks presents operational challenges, with overvoltages being among the most critical. This study introduces a tool based on Unbalanced Optimal Power Flow (UBOPF) to assess cost-effective local inverter control strategies specifically aimed at mitigating overvoltage issues. Two approaches are examined: dynamic active power curtailment and combined active and reactive power control. These strategies are tested on a residential low-voltage network with high PV penetration, where the UBOPF model with voltage-magnitude constraints was implemented in Julia using the JuMP optimization package. The results demonstrate that both methods are effective in maintaining voltage levels within regulatory limits, with the latter leading to lower PV curtailment. The analysis highlights the need to consider these control actions as ancillary services to the grid, which should be properly compensated given their effect on generator revenues.

Healthcare consolidation has transformed physician employment, with 74% now working for health systems or corporate entities. While physicians increasingly consider collective bargaining to address these changes, the legal frameworks and practical pathways remain unclear, particularly for highly specialized fields like neurosurgery. We conducted a policy analysis synthesizing federal labor statutes, National Labor Relations Board rulings, judicial decisions, and comparative frameworks from international healthcare systems and US industries with similar characteristics. Analysis focused on private sector physicians covered under the National Labor Relations Act. Recent legal developments have created new possibilities within persistent constraints. The 2022 Piedmont Health Services decision clarified that employed physicians focused on patient care may unionize under the National Labor Relations Act. However, private practice physicians remain excluded as independent contractors, and antitrust law prohibits collective negotiation without structural integration. The 2023 withdrawal of antitrust "safety zones" eliminated predictable compliance pathways while allowing case-by-case innovation. Available options include messenger model networks for information sharing, Independent Practice Associations with genuine financial integration, and fully integrated cooperatives. Professional societies can advocate but cannot bargain collectively. International models and US industries demonstrate that collective frameworks can preserve individual contract flexibility and merit-based compensation. Neurosurgery's unique characteristics-small specialty size, high revenue generation, emergency obligations, and practice diversity-require tailored approaches to collective representation. While legal barriers persist, viable pathways exist within current frameworks. Success depends on matching organizational models to regional market conditions and practice characteristics. As healthcare consolidation continues, understanding these options becomes essential for neurosurgeons seeking to preserve professional autonomy and economic sustainability, whether through collective action, individual negotiation, or hybrid approaches.

ABSTRACT This article examines the impact of natural resources on civil wars by focusing on the challenges faced by armed groups attempting to profit from Myanmar's opium sector. Economic theories of conflict hold that the presence of lootable resources can prolong civil wars by providing non‐state armed groups with the resources and incentives to challenge the state. However, the emphasis on the presence of lootable resources and the capabilities of armed groups overlooks how these groups convert resources into wealth. This study examines Shan State in Myanmar during the first three decades of its post‐World War II opium boom. While the increased opium production in Shan State offered a potential revenue stream for the dozens of non‐state armed groups, the remnants of Chiang Kai‐Shek's Kuomintang forces dominated the trade. Drawing on the ‘politics of passage’, an approach attentive to the competing claims on trade in war zones, this article examines the various impediments faced by armed groups attempting to profit from the opium trade. Its findings indicate that revenue generation by armed groups was much more challenging than economic theories of civil war suggest. The article highlights a need to move beyond the mere presence and extraction of resources by powerful armed groups and to pay closer attention to the mundane but formidable challenges of profiting from a valuable resource sector.

ABSTRACT This study presents a comparative financial performance analysis of Hindustan Unilever Limited (HUL) and ITC Limited over a specified period using ratio analysis as a primary analytical tool. The objective of the research is to evaluate and compare the financial health, profitability, liquidity, efficiency, and solvency positions of both companies. Ratio analysis, including key indicators such as current ratio, quick ratio, debt-equity ratio, return on equity (ROE), return on capital employed (ROCE), and net profit margin, has been applied to assess operational effectiveness and financial stability. The study relies on secondary data collected from annual reports and financial statements of the companies for the selected period. Comparative analysis reveals variations in financial strategies, cost management, and revenue generation capabilities between HUL and ITC Ltd. While HUL demonstrates strong profitability and efficient asset utilization, ITC shows diversified business performance with stable returns and a balanced capital structure. The findings highlight the strengths and weaknesses of each company, providing insights for investors, stakeholders, and financial analysts. Overall, the study concludes that both companies maintain sound financial positions, though their performance differs based on business models and strategic approaches. Ratio analysis proves to be an effective method for evaluating and comparing corporate financial performance. KEYWORDS Financial Performance, Ratio Analysis, Profitability, Liquidity, Solvency, HUL, ITC Ltd, Comparative Analysis.

Endoscopic spine surgery offers minimally invasive advantages, including reduced tissue disruption, fewer complications, and faster recovery. These benefits are particularly relevant in the treatment of herniated discs and spinal stenosis. Despite these strengths, questions remain regarding its long-term economic sustainability. Thus, it is important to evaluate the economic challenges facing endoscopic spine surgery and identify strategies to support its integration into modern spine care. This perspective examines reimbursement structures, procedural scope, stakeholder incentives, and overlap with pain management. Endoscopic procedures are primarily used for decompression and involve minimal implant utilization, limiting reimbursement and revenue generation. This creates financial pressure across surgeons, ambulatory surgery centers, hospitals, and industry stakeholders. Increasing procedural overlap with pain management further complicates positioning and adoption. Sustained viability will depend on integrating endoscopy into broader surgical workflows, demonstrating measurable value, and aligning reimbursement with clinical performance. Strategic innovation and coordinated stakeholder engagement are essential to securing its future role.

South Africa's coal-dependent energy system has struggled to meet national demand for nearly two decades, resulting in persistent loadshedding and an urgent push for renewable alternatives aligned with SDG 7. Although the country possesses significant solar and wind potential, expansion of utility-scale renewable energy is constrained by the availability of suitable land near existing grid infrastructure. Increasingly, developers are turning to land held under customary tenure, yet the social implications of this shift remain under-examined. This study investigates the Bolobedu solar farm in Limpopo Province to understand how local and regional traditional authorities perceive the conversion of agricultural land to a renewable energy facility. Drawing on interviews with both developers and tribal leaders, we find that while the project delivers notable benefits, including employment opportunities and revenue generation through land leasing, it also introduces challenges related to the loss of agricultural land, uneven information flows, and perceived imbalances in negotiation power. We introduce the framework “plot, power, promises” to conceptualise how land parcels, authority relations, and expectations of development shape community experiences during land-use transitions. As customary land is likely to play an increasingly central role in southern Africa's energy transition, our findings highlight the need for stronger procedural justice, more transparent benefit-sharing mechanisms, and improved community engagement.

The informal sector is a vibrant component of urban economies in emerging countries, providing income for city residents. In Nigeria, it plays a major role in poverty reduction, job creation, and revenue generation. This study focuses on Aba Urban, in Abia State, southeastern Nigeria, and examines the role and contributions of the informal sector to local economic development. Key areas of interest include employment creation, income distribution, poverty reduction, and urban growth. Aba Urban is a commercial hub in Abia State with a thriving informal sector. This sector involves activities such as trading, fabrication, and service provision. These activities offer jobs for many households, helping to alleviate poverty and advance the economy. The study surveyed 180 informal sector operators and conducted stakeholder interviews using a mixed-methods approach. Purposive sampling was used to include a diverse range of informal sector operators in Aba Urban. Descriptive statistics were analyzed from survey data, while thematic analysis was used for stakeholder interviews. The study reveals that women predominantly participate in the informal sector, with limited access to education and finance identified as major barriers. Financial access, in particular, is a significant obstacle, especially for women (83.3%). Infrastructure and regulatory challenges, however, are not strongly gender-specific. It also found that the informal sector accounts for about 65% of employment through trading and small-scale industries. Therefore, the government and financial institutions should provide financial support and incentives to help informal sector operators access credit and expand their businesses. Additionally, investment in infrastructure, such as markets and transportation, is necessary to support informal sector activities. Keywords: Informal sector, urban economy, job creation, poverty reduction, revenue generation

ABSTRACT The adoption of digital technologies by cities requires developers to create consistent value propositions with enduring business models to ensure the long-term success of smart city initiatives. This research examines the relationship between value propositions and strategic urban development goals by combining the Smart Cities Wheel (SCW) and Business Model Canvas (BMC) frameworks. A total of 116 smart city initiatives were analyzed through an exploratory qualitative study, comprising 38 large-scale projects and 78 application-level implementations spanning 23 countries. The research indicates that the Smart Mobility and Smart Environment dimensions of the SCW dominate the focus, while operational efficiency, along with digital service delivery, emerge as primary value themes. The analysis reveals that the SCW Smart Governance and Smart People dimensions, which focus on citizens, receive insufficient attention. At the same time, essential aspects of the business model, such as revenue generation and cost structures, are often overlooked in the BMC components. The research develops a dual-framework (SCW-BMC) assessment tool that reveals strategic implementation mismatches and provides practical recommendations for urban planners, policymakers, and technology providers. The study demonstrates that smart city development needs to achieve better financial sustainability through inclusive participation.

ABSTRACT This study empirically tests the Quiet Life Hypothesis (QLH) in Indian banking using a three-stage dynamic network production model. The model deconstructs bank efficiency into three sequential operations: liability creation, asset transformation, and income generation, moving beyond the traditional ‘black-box’ paradigm to pinpoint inefficiencies at each distinct stage. A key innovation is the endogenization of technology, where technology expenditure is treated as a distinct input, revealing its role in strategic resource allocation. Analysing data from 2005 to 2024, we find no evidence supporting the QLH. The results demonstrate that conventional black-box efficiency estimates are misleading, as they mask significant inefficiencies embedded particularly in the asset transformation and revenue generation stages. We identify bank size, diversification, and human capital as key determinants of network efficiency. The findings suggest that structural reforms, regulatory interventions, and technological adoption have collectively prevented market power from eroding efficiency. Consequently, the results affirm a positive association between market power and network efficiency across composite, adjusted, and stochastic measures of the Lerner index. This underscores the importance of structural reforms, regulatory intervention, and technological integration in driving Indian banks towards operational excellence, even amidst rising market concentration.

This study evaluates the effectiveness of university incubators and mentorship programs in preparing students for startup ventures. Using a quantitative descriptive–correlational design grounded in a positivist paradigm, data were collected from 251 graduating students of Quezon City University (QCU) who participated in entrepreneurship support programs during the first semester of Academic Year 2024–2025. A structured survey measured business planning, financial management, marketing skills, entrepreneurial decision-making, and early startup success (operationalized through revenue generation, customer acquisition, and business continuity). Statistical analyses included paired-sample t-tests, Pearson correlation, chi-square tests, and multiple regression. Results revealed significant improvements in all entrepreneurial competencies (p < 0.001), with business planning showing the highest gains. Strong positive relationships were found between program participation and decision-making abilities. Startups of participants demonstrated significantly higher early success rates compared to non-participants. Despite these outcomes, challenges such as limited resources and mentor–mentee mismatches were identified. The findings highlight the critical role of structured entrepreneurship programs in enhancing student startup readiness and provide practical implications for program design and policy development in higher education.

This study examines the effect of FinTech adoption on the sustainability of deposit money banks in Nigeria over the period 2010–2024. It focuses on three major FinTech channels which include mobile banking, point-of-sale (POS) transactions, and automated teller machines (ATMs, and evaluates how their effects on bank sustainability are mediated by operating efficiency and financial inclusion. Using secondary data from the Central Bank of Nigeria, the Nigeria Inter-Bank Settlement System, and bank annual reports, the study employs the Autoregressive Distributed Lag (ARDL) model to estimate short-run and long-run relationships, while Structural Equation Modelling (SEM) is used to assess mediation effects. The findings show that FinTech adoption has heterogeneous effects on bank sustainability. Mobile banking has a significant negative effect on return on equity, suggesting that adoption costs, service disruptions, and technology-related risks may weaken short-run performance. In contrast, POS and ATM channels exert positive effects on financial performance, indicating their contribution to revenue generation and service efficiency. The mediation analysis further shows that operating efficiency is a strong positive transmission channel between FinTech adoption and bank sustainability, whereas financial inclusion has a weaker negative mediating effect, reflecting the short-run costs of expanding access to underserved populations. The ARDL bounds test confirms the existence of a long-run equilibrium relationship between FinTech adoption and bank sustainability in Nigeria. The study concludes that FinTech adoption can enhance bank sustainability when supported by efficient operations, sound risk management, and balanced regulation. It contributes to the literature by integrating disaggregated FinTech indicators with mediation analysis in the Nigerian banking context.

The introduction of Goods and Services Tax (GST) on 1 July 2017 marked a major shift in India’s indirect tax system. Before GST, businesses faced a confusing mix of central taxes (like excise duty and service tax) and state levies (VAT, entry tax, octroi, and various cesses). These overlapping taxes caused cascading costs, border delays, and administrative headaches, ultimately raising prices for everyone. GST replaced this fragmented setup with a single, destination-based consumption tax that applies uniformly across the country. The goal was simpler compliance, reduced cascading, and a truly integrated national market. A standout feature is the GST Council, where the Centre and states jointly decide rates, exemptions, and rules. This cooperative approach has strengthened federal coordination in taxation. Since rollout, GST has brought greater transparency and efficiency. The GST Network (GSTN) enables online filings, invoice matching, and better tracking, pulling many informal businesses into the formal economy. Removing state border checkpoints has sped up goods movement and lowered logistics costs. Revenue trends have been encouraging overall. Using principles from public finance theory alongside empirical revenue trends and institutional evaluation, the paper assesses whether GST has strengthened revenue generation, enhanced fiscal responsiveness, and contributed to long-term financial sustainability at the state level. Nationally, collections have grown steadily with a wider tax base, even after some rate rationalisations. For Uttar Pradesh, a large and diverse state, GST has supported rising own-tax revenue, reduced dependence on central transfers, and driven a surge in registrations often topping the country in new enrolments in recent months. Monthly collections frequently rank among the highest, reflecting stronger economic formalisation and activity. Still, challenges persist. Small businesses in UP and elsewhere find compliance burdensome monthly filings, tech requirements, and complex rules hit micro-enterprises hard. Early portal glitches frustrated users, and debates over revenue sharing and state fiscal autonomy continue. Overall, GST has created a more streamlined, transparent, and integrated indirect tax framework. It has boosted revenue mobilisation, eased inter-state trade, and laid the foundation for a national common market. For Uttar Pradesh, it has contributed to better fiscal performance and economic formalisation. Long-term success, however, depends on simplifying processes for small players, improving technology, and maintaining strong Centre-state cooperation.

ABSTRACT Gambling has become a prominent feature of Central Asia's shifting economies, reshaping social life and governance across the region. While some states maintain prohibitions, others, including Kazakhstan, have legalized gambling as a tool for revenue generation and tourism development. This expansion, however, has produced significant social costs, including family disruption, rising indebtedness and declining public trust. This article argues that gambling addiction in Kazakhstan is not merely an individual disorder but a structural vulnerability emerging at the intersection of digital capitalism, welfare retrenchment and contradictory state policies that simultaneously promote and regulate gambling. Drawing on qualitative documentary analysis, policy review and contextual interpretation, the study examines how post-2007 gambling legislation, the confinement of casinos to special zones and the rapid expansion of online and mobile betting platforms have contributed to increasing addiction, household financial distress and governance risks, including corruption and coercion among public officials. Situating Kazakhstan within broader regional and global debates, the article demonstrates how fiscal incentives and regulatory gaps convert economic gains into long-term social and institutional costs. It concludes by emphasizing the need for public health-oriented and coordinated policy responses.

The article examines the essence and current development trends of bleisure tourism as a hybrid form of tourist mobility that combines business travel with leisure and recreational activities within a single trip cycle. The growing relevance of this phenomenon is driven by the digitalization of the economy, the spread of flexible forms of employment, and the increasing importance of work-life balance. As a result, traditional business travel is being transformed into a more complex and experience-oriented model of mobility. The study focuses on the impact of bleisure tourism on hotel demand and key performance indicators (KPIs) of hotel enterprises, including Occupancy Rate (OR), Average Daily Rate (ADR), Revenue per Available Room (RevPAR), and Total Revenue per Available Room (TRevPAR). It is substantiated that the integration of leisure components into business trips leads to longer stays, higher tourist expenditures, and diversification of consumption patterns, which positively affect hotel performance and revenue generation. Attention is paid to the transformation of international mobility under the influence of digital regulatory systems, such as the Entry/Exit System (EES) and the European Travel Information and Authorisation System (ETIAS). These systems contribute to the formation of a new model of “controlled mobility,” characterized by increased regulation, the need for pre-travel authorization, and reduced spontaneity in travel decisions. The implementation of these instruments does not reduce tourist flows but significantly transforms their behavioral structure, encouraging more planned and structured travel patterns. The empirical analysis includes Barcelona, a leading European bleisure destination, demonstrating both the opportunities and operational challenges associated with implementing new mobility regulations. The study highlights that the testing of digital border control systems can create temporary operational frictions, such as increased waiting times, which, in turn, affect travel planning and demand distribution. Furthermore, the paper analyzes adaptive strategies of hotel enterprises, including the transformation of hotel products into multifunctional spaces that combine accommodation, work, and leisure. Such approaches enhance hotels' competitiveness and enable them to better respond to the evolving needs of bleisure travelers. The scientific novelty of the study lies in its comprehensive analysis of bleisure tourism from the hotel business perspective, accounting for the impact of the international regulatory environment. Unlike existing studies, which primarily focus on tourist behavior, this research integrates demand-side and supply-side perspectives, emphasizing the role of institutional factors in shaping hotel demand. The findings of the study have both theoretical and practical significance, as they contribute to a deeper understanding of the transformation of tourism mobility and provide a basis for improving the efficiency of hotel enterprises amid changing global travel regulations.

Media's role in elite sport has grown exponentially from the second part of the 20th to the first part of the 21st century. It encompasses many aspects such as visibility, revenue generation, fan engagement, athlete branding, event promotion, policy decisions, international benchmarking, national pride, and cultural influence. A strong and symbiotic relationship between elite sports and the media is essential for sustained success and growth in the modern sports industry. The objective of this paper is to highlight the leverage that media has in a country's national elite sport ecosystem. This evaluation will consist of two frameworks of analysis, one that explains media's structural role in nations' success in international competitions, and another which explains its capacity to elevate sport into an instrument of power in international relations. This research identifies the unique position that media has in a country's national elite sport ecosystem and is recommended for theoretical advancement and practical application.

The study is devoted to the analysis of the role of information systems and digital technologies in ensuring the tax potential of territorial communities under the conditions of a wartime economy. The relevance of the research is determined by the transition to the era of digitalization of public finance and the tax space, which is considered one of the key strategic prerequisites for strengthening the tax potential of territorial communities and ensuring the financial support for the post-war reconstruction of Ukraine. The paper reveals the essence and functional features of information systems in the field of tax administration and determines their place in the formation and realization of the tax potential of local budgets. It is substantiated that the digital transformation of the tax system forms a new architecture of fiscal interaction between business entities, tax authorities, and local self-government bodies. The article systematizes the key components of the digital infrastructure of tax administration and characterizes the interaction between the corporate and territorial contours of tax revenue generation. Based on statistical data, the dynamics and structure of local budget revenues in Ukraine for the period 2020–2025 are analyzed, and the role of major tax payments in the formation of financial resources of territorial communities is determined. A regional analysis of the concentration of local budget tax revenues is conducted, which makes it possible to identify the transformation of the territorial structure of tax potential under martial law conditions. It is substantiated that the use of modern information and analytical systems, electronic tax administration services, and data management tools contributes to increasing the transparency of fiscal processes, improving the effectiveness of tax control, and strengthening the financial capacity of territorial communities. In this context, digital tax administration becomes an important institutional instrument for increasing fiscal resilience and improving the adaptability of local financial systems to wartime economic challenges. The directions for further development of digital instruments of tax administration as an important factor in strengthening the tax potential of local budgets in the process of Ukraine’s economic recovery are proposed.

The research work examined the assessment of event decorators in Makurdi metropolis. Specifically, the study seek to find out the types of even decoration arrangement in Makurdi metropolis; to determine the type of challenges encountered by event decorators; and to suggest possible ways through which these challenges can be minimized to improve event decoration in Makurdi metropolis. Three(3) Research questions were formulated to guide the study. The population for the study comprises event decorators from the registered 115 event decoration ventures in Makurdi. The sample size of 67 was obtained using cluster and simple purposive. The instrument for data collection was questionnaires. Descriptive statistics was used to analyze the data. The findings of this study showed that, the types of event decoration enterprise comprises of fabric, flower and balloon among others. The results shows that fabric decoration was rated high with mean score of 3.74.Possible ways through which decoration challenges can be minimized, was the careful planning of budget which had the highest mean of (x=3.67). It was therefore recommended that, proper budgeting should be made by providing extra allowance in the budget in case of changes in the price of items.

This research paper re-evaluates the foundational origins of management science, positioning Kautilya (Chanakya) as the original pioneer of economic and administrative thought long before the emergence of Western industrial theories. Through a detailed analysis of the Arthashastra, the study illustrates how ancient Indian governance practiced sophisticated concepts like strategic planning, fiscal accountability, and hierarchical leadership as early as the 3rd Century B.C. Central to Kautilya’s philosophy is the principle of ‘Yogakshema,’ which transcends mere profit to encompass the collective well-being and productive acquisition of resources. The paper argues that the Mauryan ‘State-as-an-Enterprise’ model remains a timeless blueprint for 21st-century organizational challenges, particularly through its emphasis on a ‘Surplus Budget’ and ethical revenue generation, famously known as the ‘Honeybee’ taxation principle. Furthermore, the study explores Kautilya’s advanced forensic approach to identifying financial fraud (Kantaka-shodhana), proving his methods were centuries ahead of their time. By bridging the gap between ancient Vedic wisdom and modern corporate landscapes, this paper advocates for a shift from a profit-centric mindset to ‘Ethical Pragmatism,’ where economic power is balanced with social responsibility and rigorous internal discipline.

Over the past decade, the tourism sector in the karst region of Gunung Kidul has experienced substantial growth, contributing significantly to local revenue generation and expanding employment opportunities for surrounding communities. Nevertheless, the rapid development of tourism infrastructure, land-use conversion, and intensive exploitation of karst landscapes have generated constitutional concerns related to the State’s obligation to safeguard environmental sustainability. Karst ecosystems perform essential ecological functions, including groundwater storage, hydrological regulation, and providing habitats for diverse biological species. Consequently, environmental degradation in these areas may result in long-term ecological consequences. This study aims to examine the tension between tourism-driven economic development and the protection of karst environments from the perspective of Article 33 of the 1945 Constitution of the Republic of Indonesia, as well as the principles of sustainable development. The research employs a socio-legal approach, combining normative analysis of statutory regulations with conceptual examination of the green constitution doctrine and sustainable development framework. The findings indicate that Article 33 of the 1945 Constitution not only emphasizes state control over natural resources for the prosperity of the people but also implicitly incorporates principles of environmental sustainability and ecological responsibility. Accordingly, tourism policies that disregard environmental carrying capacity and ecological limits within karst regions risk contradicting constitutional mandates. The integration of sustainable development principles into spatial planning policies and licensing mechanisms is therefore essential to ensure a balanced relationship between economic advancement and environmental preservation.

This study is aimed at assessing the status and prospects of the intelligent transport system (ITS) supply in Addis Ababa. It uses a mixed method approach, and data are collected from primary and secondary sources, which include survey questions, interviews and literature reviews. Simple random and purposive sampling were employed to select passengers and interviewees, respectively. SPSS 23 and NVivo 14 software were used for analysis. Binary logistic regression was employed to measure the effects of age, prior awareness of intelligent transport systems and income on ITS use. This study has identified opportunities, challenges and strategies of ITS adoption. It analyzes the advantages of ITSs, such as service reliability, accountability, safety and improved revenue generation. The study highlighted the challenges in ITS adoption, such as the absence of sustainable financing mechanism, skill gaps, digital connectivity failure, institutional fragmentation, the absence of coordinating institution and leading policy. The study has identified strategies to address these challenges, including the introduction of proper ITS policy, the devising of sustainable finance sources, improvements in digital connectivity, skill training and institutional integration. This study contributes by bridging the global framework and local reality through data-driven context sensitive road maps for integrating ITS technology in the management of public transport supply in Addis Ababa.