Transport Sub-sector Research Articles

The Effect of Profitability and Good Corporate Governance Mechanisms on the Timeliness of Annual Financial Report Publication: An Empirical Study on the Infrastructure, Utilities, and Transportation Subsector Companies Listed on the Indonesia Stock Exchange for the period 2020 - 2022

This study aims to determine the effect of profitability and the mechanism of Good Corporate Governance, as proxied by the independent board of commissioners, managerial ownership, and the audit committee, on the timeliness of annual financial report publication. The study uses companies from the infrastructure, utilities, and transportation sub-sectors listed on the Indonesia Stock Exchange for the period 2020-2022. The data analysis technique used is purposive sampling. The sample in this study consists of 27 companies. The data analysis technique used is multiple linear regression. The results of this study show that profitability and the independent board of commissioners do not affect the timeliness of the annual financial report publication. Managerial ownership and the audit committee do affect the timeliness of the annual financial report publication.

A family enterprise: The Shonubis of Ikorodu, 1919–1949

Abstract The impact of the Shonubi family on the economic and commercial interrelations between the Ikorodu district and Lagos during the colonial period is indelible. Two prominent personalities, a mother and her son, distinguished themselves in trade, commerce, agro-allied and the transportation sub-sectors of the economy by harnessing indigenous entrepreneurial ingenuity. The mother, Patricia Efun, was not only the «king of women» in the traditional political realm, but she was also indeed a leader in other dimensions. The son, Joseph Shonubi (popularly known as Owolowo), took the opportunity of his mercantile background to make a mark in the business world. However, apart from the personal and family benefits, their entrepreneurial exploits contributed to laying the foundation of post-colonial economic developments in Ikorodu and Lagos. This paper highlights the connections between family wealth and entrepreneurial exploits in the colonial Ikorodu district of the Lagos Colony. It is based on archival materials, oral interviews and newspaper reportage among others.

When green transportation backfires: High-speed rail's impact on transport-sector carbon emissions from 315 Chinese cities

High-speed rail is often viewed as a green transportation mode, substituting for carbon-intensive vehicular and aviation trips. However, its potential to induce additional travel demand and transport-sector carbon emissions has been largely overlooked. Here, we empirically examine the impacts of high-speed rail accessibility, the ease with which one city can reach other cities via the high-speed rail network, on transport-sector carbon emissions across 315 Chinese cities between 2010 and 2020, using a two-stage least squares model. Contrary to the anticipated emission-reduction effect, our analysis suggests a net positive impact of high-speed rail on transport-sector carbon emissions. Specifically, a 1% increase in high-speed rail accessibility leads to a 0.18% increase in transport-sector carbon emissions in the long run, as carbon emissions generated from induced travel demand have outweighed the carbon savings from substitution for carbon-intensive inter-city trips. This high-speed rail-induced increase in carbon emissions is observed in the road transport subsector, while the aviation subsector exhibits a compensatory reduction. Moreover, we find that integrating the high-speed rail network into local subway systems can curb the emission-intensifying effect, highlighting the importance of joint public transit planning. This study reveals an unexpected environmental impact of high-speed rail, conveying valuable insights into transport-sector decarbonization.

Green hydrogen production in Uruguay: a techno-economic approach

Abstract In 2015, the participants of the Paris Agreement collectively acknowledged the urgent need for immediate actions to decarbonize their national economies, with the aim of mitigating the adverse impacts of climate change. There is a call for policymakers to step up efforts to significantly reduce greenhouse gas (GHG) emissions in all economic sectors, with a focus on prioritizing options that can deliver substantial emission cuts. Some industry and transport subsectors present significant challenges in terms of technical and economic feasibility. Viable solutions for these sectors, known as “hard-to-abate” sectors, are limited. Green hydrogen has emerged as a promising alternative that is gaining increasing attention. It is poised to play a crucial role in transitioning towards a more sustainable future. There is a growing interest in green hydrogen among researchers, institutions, and nations, all committed to advancing its development, improving efficiency, and reducing costs. This paper explores the concept of green hydrogen, particularly its production processes that rely on renewable energy sources in Uruguay. It demonstrates the significant potential for green hydrogen production, facilitating the transition from fossil fuels to clean energy and promoting environmental sustainability through the widely accepted electrolysis process. Uruguay currently boasts a high percentage of renewable electricity generation (reaching 97 % in 2020). To support this further, there is a need to increase renewable energy capacity, which would impact the energy prices. The cost of energy accounts for more than 40 % of the levelized cost of hydrogen (LCOH) in all studied scenarios. Additionally, optimizing the costs associated with electrolysers, which can exceed 30 % of the LCOH in polymer electrolyte membrane (PEM) electrolysis, is crucial. This optimization is essential for positioning the country as a net exporter of green hydrogen. The range of LCOH values calculated in the different scenarios is between 2.11 USD/kg H2 and 4.12 USD/kg H2. According to updated specialized literature, achieving LCOH values under USD 1.4/kg H2 is essential for this goal.

RISK ANALYSIS OF SHARIA STOCKS IN THE INFRASTRUCTURE, UTILITIES AND TRANSPORTATION SECTOR LISTED ON THE JAKARTA ISLAMIC INDEX (JII) 2015-2023

This research is intended to analyze the risk comparison using the Value at Risk (VaR) Variance Covariance and Value at Risk (VaR) Historical Simulation models in the Infrastructure, Utilities and Transportation subsectors. The development of infrastructure, utilities, and transportation plays a very important role in national development and is the main driver of regional growth and the industrial sector. Improvements in the regulatory and investment policy framework are expected to significantly increase the availability of infrastructure facilities and services. The population involved in this study includes 9 companies listed in the JII in the Infrastructure, Utilities, and Transportation sector, which are used as samples. The data used is secondary data obtained from www.yahoo.finance.com. Data analysis was carried out using a two-sample average test. The test results of the Value at Risk (VaR) Historical Simulation and Variance Covariance values are largest in INDX stocks, followed by other stocks, and those with the lowest risk level are TLKM stocks for the upcoming 5-day, 7-day, and 15-day periods with good values for alpha 1%, 5%, and 10%. The results concluded that the comparison between VaR Variance Covariance and VaR Historical Simulation produces a good level of risk and helps in determining sectors that are worth investing in the future, and can describe the fundamental strength of each sector.

The Indigenous People of Biafra (IPOB) Sit-At-Home Order and Socio-Economic Activities in South-East Nigeria

The Indigenous People of Biafra (IPOB) Sit-at-home order has been prevalent in the South-east region of Nigeria since 2021 that not even the responses of the Federal Government of Nigeria could stop the unlawful order which has become a security threat. Imperatively, the study examined the effects of IPOB Sit-at-home order on the socio-economic activities of the South-east, Nigeria between 2020 and 2022. Specifically, the study interrogated the effects of IPOB Sit-at-home order on the socio-economic activities of the South-east, Nigeria in the specific areas of Small and Medium Enterprises (SMEs), transport sub-sector and educational system of the South-east which serve as indicators of socio-economic activities. This study is qualitative and adopted documentary research design while it made use of data gathered through documented evidence/secondary sources which majorly include media publications/reports as Systems theory of David Easton served its theoretical guide. The study established that IPOB Sit-at-home order has severe consequences on all the aforementioned indicators of socio-economic activities in the South-east, Nigeria. Based on this, the study recommended the need for an internal dialogue among the Igbo traditional rulers, the governors in the South-east, Nigeria and the claimed leaders of IPOB across states in the region. More so, there should be introduction of online classes for students every Monday for the meantime while writing of examinations on Sit-at-home enforcement days should be an exception until the Sit-at-home is over. In addition, the Nigerian government should free the acclaimed leader of the group from detention and then dialogue with the group with regards to their claims and demands.

Transportation sector and Chinese stock volatility forecasting: Evidence from freight and passenger traffic

Based on the GARCH-MIDAS model, this paper explores the forecasting power of four transportation sub-sectors. The empirical results show that the freight volume and passenger traffic of air aviation outperform other models during MCS and DoC tests. This illustrates the important role of air aviation in the operation of a country's economy. The findings of this paper could help the government to formulate infrastructure planning and provide insights into the allocation of different resources to different transportation sectors.

Does oil price volatility matter for the US transportation industry?

Although the US transport sector is one of the major users of fossil fuel (e.g., crude oil), the impact of energy price volatility on transport stock sector indexes remains under-researched. The present study addresses this research void by investigating the impact of energy implied volatility on transportation stock returns in the US. Using the crude oil volatility index (OVX), as a proxy of energy price volatility, and three Dow Jones indexes tracking the performance of the airlines, marine and trucking stock subsectors, we employ a GARCH-jump model. The main results show that the oil market sends volatility to the US transport subsector stock indexes, suggesting that oil implied volatility plays a role in pricing US transport stocks. The impact of OVX shocks is asymmetric, indicating that increases and decreases in oil implied volatility have a heterogeneous impact on the transport subsector stock markets. Jumps are significant in the three transport subsector stock indexes, and are time-dependent. Notably, the three transportation subsector stock indexes are more sensitive to OVX shocks than the S&P 500 index. These results have important implications for investors, policymakers, academics, and managers of the US transportation industry.

Descriptive analysis and a proposal for a predictive model of fatal occupational accidents in Spain

Accidents at work are a problem in today's economic structures, but if they result in the loss of human lives, the economic and social cost is even higher. The development of prevention policies, both at governmental and sectoral level, has led to a progressive reduction of occupational accidents, but number of fatal accidents remain high. The aim of this study is to explore the evolution of fatal accidents at work in Spain for the period 2009–2021, analyse the relationship between the main variables, and propose a predictive model of fatal occupational accidents in Spain. Data for this study are collected from occupational accident reports via the Delt@ (Electronic declaration of injured workers) IT system. The study variables were classified into five groups: temporal, personal, business, circumstances, and consequences. Fatal accidents at work are more common in males and in older workers, especially in workers between 40 and 59 years old. Companies with less than five workers have the highest percentage of fatal accidents, and the transport subsector and that the worker is carrying out his/her usual work have a strong correlation in the fatal accidents. Results can help to the agents involved in the health and safety management to develop preventive measures, and action plans.

Analisis Perbedaan Kinerja Saham Emiten Subsektor Transportasi di Masa Sebelum dan Semasa Pandemi Covid-19

This research aims to analyze differences in stock performance of issuers in the transportation subsector before and during the Covid-19 pandemic. The sample was determined using a nonprobability sampling method with a purposive sampling technique on transport subsector issuers listed on the Indonesia Stock Exchange (BEI) as of March 2020. The analytical tools used were Partial Least Square (PLS) and the Wilcoxon Signed Rank Test. The findings show that the current ratio and debt to equity ratio have no effect on stock performance. Total assets turnover and return on assets have a significant positive influence on stock performance. In the difference analysis, the result was that the value of Asymp.Sig. (2-tailed), namely 0.274 > ? = 0.050, meaning there is no difference in the performance of shares of issuers in the transportation subsector before and during the Covid-19 pandemic.
 Keywords: Financial performances; Stock performances; Covid-19.

The Socio-Economic Impact of Bus Transport Enterprises in Benin –City, 1978-2018

This paper discusses the emergence and impact of bus transport enterprises in Benin-City from 1978 to 2018. The traditional or pre- colonial means of transportation in Benin-City involved the use of human porterage and water transport before the emergence of modern means of transportation. People in Benin transported themselves from their homes to farms, markets and other social economic activities by the use of human porterage. They also use local canoes to move on rivers and for the conveyance of their goods. However, in the colonial period, the British introduced modern means of transportation in Nigeria areas including Benin. This paper has shown that there emerged a group of transport entrepreneurs who ventured into road transportation service to meet the increasing demands of travellers in Benin in 1978. They have transformed the road transport sub-sector and played immense role in the development of the economy in Benin-City.

Assessing the co-benefits of emission reduction measures in transportation sector: A case study in Guangdong, China

The transportation sector is becoming a major contributor to air pollutants and greenhouse gas emissions, and a key sector for emission control. Given the relevant pollutant reduction measures have been in place, policymakers must quantify mitigation potential and synergies of existing policies to determine further measures. In this study, we aim to explore the potential and co-effects of transportation sector abatement policies on air pollutants and CO2 emissions during 2020–2060 in Guangdong. To more thoroughly assess the effectiveness of the policies, we also conducted analysis within transportation sub-sectors. The findings show that the co-benefit effects differ among various pollutants and sub-sectors. The strengthening emission standards scenario has the greatest short-term effect on reducing air pollutant emissions but no effect on CO2 as there is a lack of CO2 emission control standards. The optimising energy structure scenario presented the largest potential abatement, with a 60–90% reduction compared to the business-as-usual scenario in 2060. However, there are potential emission transfers, with SO2 (1.2 kt) and PM2.5 (1.5 kt) emission reductions, from electric vehicles to the power sector. Moreover, emission transfers among transportation sub-sectors were also found in the optimising transport modes scenario.

Exergy analysis of China’s transportation sector

In China, transportation plays an increasingly important role in energy consumption. This study aims to uncover the evolution of energy consumption structures and intensities within China’s transportation during 2000–2018 from the perspective of exergy. Our study will analyse five sub-sectors; highways, railways, waterways, civil aviation, and pipelines. China’s transportation exergy consumption witnessed a notable increase from 3228 PJ in 2000 to 12,017 PJ in 2018, with an annual growth of 7%. Highways and railways were the two largest sub-sectors in terms of exergy consumption. The exergy efficiencies of the transportation sector show an upward trend, with railways and pipelines sub-sectors growing conspicuously faster than other sub-sectors. Potential factors influencing the evolution of transportation’s exergy consumption are identified by using the Log-Mean Divisia Index (LMDI) decomposition method. The sub-sector effect and the activity effect have a strong positive correlation with exergy consumption. The exergy intensity effect shows a strong negative correlation with exergy consumption. Owing to the railways’ exergy intensity effect, the rebound effect is higher than that of technological progress, creating a positive influence on exergy consumption. Improvement in exergy efficiencies and joint efforts among transportation sub-sectors, will improve the overall performance of China’s transportation sector, leading to sustainable development.

THE EFFECT OF AUDITOR SWITCHING AND PROFITABILITY ON AUDIT REPORT LAG WITH THE AUDIT COMMITTEE AS A MODERATING VARIABLE

This study aims to examine and analyze the effect of auditor switching, company size and profitability on audit report lag with audit committee as moderating variable. This study uses quantitative methods.The population of this study is companies in the consumer goods industry sector, hotels, restaurants and tourism sub-sector companies and transportation sub-sectors listed on the Indonesia Stock Exchange in 2016-2020, totaling 149 companies. Sampling was done by purposive sampling method so that a sample of 41 companies was obtained. Data analysis using multiple linear regression analysis and moderated regression analysis with absolute difference value approach.The results of the study indicate that auditor switching and company size do not affect audit report lag. Profitability has a negative effect on audit report lag. The audit committee is unable to strengthen or weaken the effect of auditor switching, company size and profitability on audit report lag.

Unlocking the potential of solar electric vehicles for post-COVID recovery and growth in the transport sector in Ghana

The increasing effect of climate change as a result of CO2 emissions emanating from utilization of conventional energy resources is driving national and regional policies towards global energy transformation in all sectors, including the transportation sub-sector. Internal combustion engine vehicles (ICEV), which use fossil fuel are the main contributors of CO2 emissions in the transport sub-sector. Grid-powered battery electric vehicles (BEV) and solar electric vehicles (SEV) have the potential to reduce emissions in the transportation sub-sector and are therefore being promoted in regions where solar radiation levels are appreciable. Sub-Saharan Africa (SSA) is one of the regions that receives significant radiation levels compared to other parts of the world, however, countries in the sub-region are yet to tap into the enormous benefits of SEV. In this study, comparative lifecycle analysis has been conducted on the total cost of ownership (TCO) of Hyundai Ioniq (BEV), Sono Sion (SEV) and Toyota Corolla (ICEV) for commercial transport operations in SSA, with a case study in Ghana. Research was conducted on 100 drivers of 5-seater petrol/diesel light commercial vehicles (LCV) in the city of Accra and Kumasi. Data were taken on their driving profiles, average travel distance, fuel cost and maintenance cost. Their choices between ICEV, BEV and SEV were also ascertained. Our study revealed that 70% of LCV travel up to 300 km and below, daily. The total cost of ownership for LCV at an average annual travel distance of 60,000 km were 0.21 US$/km, 0.17 US$/km, 0.15 US$/km and 0.14 US$/km for Used-ICEV, New-ICEV, BEV and SEV for 20-year analysis period, respectively. The total cost savings with BEV and SEV usage are at least 28% and 34%, respectively, compared to traditional diesel or gasoline ICEVs. Payback periods for SEV and BEV compared to ICEV are 3.5 years and 4.5 years, respectively. Our study has revealed that there is potential emission savings of 70% and 75% for BEV and SEV, respectively, compared to ICEV. Finally, this study highlights that utilization of SEVs and BEVs for light vehicle commercial transportation in SSA can potentially lead to post-COVID recovery and growth in the sub-region, amidst increasing diesel and petrol prices for ICEVs.

PENGARUH PROFITABILITAS, PERTUMBUHAN PENJUALAN, DAN UKURAN PERUSAHAAN TERHADAP STRUKTUR MODAL

This research aims to analyze the effect of profitability, sales growth, and company size on capital structure. This research is conducted by using 125 sample data of manufacturing companies in the infrastructure, utility, and transportation sub-sectors listed in Indonesia Stock Exchange in the period 2015-2019. This sampling method is using purposive sampling method and processed using EViews 11 program. The results showed that the profitability variable has a negative and significant effect on the capital structure, the sales growth variable had a positive and significant effect on the capital structure, the firm size variable had a negative and significant effect on the structure capital.

Desarrollo económico, inversión en transporte y urbanización en México: causalidad y efectos

The transport investment is often used as a tool for economic development and urbanization. However, there is still debate about whether transport improvements promote development and urbanization or, conversely, these latter create the conditions that stimulate the transport. In theory, the transport system contributes to development and urbanization because it speeds up the exchange of goods and services, but the effects can also be reversed, so the direction of causality is not so easily identified. This work uses Mexican state information of the 1988-2018 period, grouped as panel, to know both magnitude and direction of the impacts. Methodology consists in cointegration tests and VECM regressions. The results reveal that long-term causality goes from economic development to transport and its subsectors, which means that economic development is a necessary condition to modernize transport in Mexico. For urbanization, the causality and magnitude of the effects vary depending on the transport subsector. The total economy and passenger sector’s investments cause urbanization, but transportation and subsectors of cargo carriers and communications estimate two-way causality. The conclusions suggest that urbanization depends on improvements in transportation and the latter, in turn, on economic development.

Risk assessment of key elements in road transport infrastructure

Critical infrastructure is a part of the infrastructure, the destruction or non-functioning of which due to the action of a risk factor will cause a threat or disruption to the functioning of the state, region, municipality, or a threat to the life and health of the population. The basis is the identification of key elements and objects of the infrastructure in the specific conditions of the given country, based on established criteria. One of the other tasks is the fine-tuning of the assessment, measurement and reduction of possible risks and the creation of a model for calculating possible losses in the event of the activation of risks and the subsequent disruption of one or more elements of the infrastructure. In this article, we will focus on the risk assessment process of key infrastructure elements in the road transport subsector. This approach is also processed as a model scenario for the education of security professionals using virtual reality as virtual reality scenarios help to simulate emergency events with high degree of damage.

Identifying channels of environmental impacts of transport sector through sectoral linkage analysis

Considering sectoral linkages with the transport sector during the process of its low-carbon transition is critical for meeting the emission reduction targets of the whole economy. However, the precise roles of different transport modals and their sectoral linkages and transfer mechanisms in driving carbon dioxide (CO2) emissions are unknown. This study proposes a framework integrating the hypothetical extraction method (HEM) and structural path analysis (SPA) to explore the CO2 emission characteristics of the transport sector. Based on the above framework, we not only identify the emission sources and destinations related to various transport sub-sectors, but also reveal key channels through which emissions are transmitted along the economic network. Taking China as an example, we find there are heterogeneous characteristics of CO2 emissions in different transport modals, in which the railway passenger transport sector and the water passenger transport sector are CO2 emissions importers while other transport sub-sectors are CO2 emissions exporters. Furthermore, the transport sector mainly exports CO2 emissions to the construction and service sectors and imports emissions from electricity and heat production and supply sector. From the perspective of transfer paths in forward linkages, the main intermediate sectors of passenger transport sectors are service sectors, while those of freight transport sectors are construction sectors. From the perspective of transfer paths in backward linkages, electricity and heat production and supply sector is the main emission source and intermediate sector. When developing sector-specific and supply chain-wide low-carbon policies, it is suggested to consider the sectoral carbon linkages of each transport sub-sector.

Cost–Benefit Analysis of Synergistic CO2 and NOx Energy-Efficient Technologies for the Road Transport Sector in China

The transportation sector is a major source of greenhouse gases and air pollutants, and it has a crucial effect on the synergistic reduction of NOx and carbon. In order to find the energy-efficient vehicle technologies with the highest net reduction potential and lowest net reduction cost over the life cycle, this study traced the CO2 and NOx emission streams of 33 energy-efficient technologies, hidden in the supply chain during the production phase, through structural path analysis, and measured the emission reductions during the use phase using the emission factor method. Moreover, we applied structural decomposition analysis to quantify the three main drivers, including emission intensity, industrial structure, and final demand, of changes in CO2 and NOx emissions from 11 transport subsectors during 2012–2018. Results indicate that CO2 emissions of the transport sector more than doubled from 2012 to 2018; however, the influence of NOx was less significant. The final demand of the road subsector was the most significant driver contributing to CO2 emission changes, with an increase of 109.27 Mt. The emission intensity of road transportation caused the greatest mitigation effect on NOx emission changes, with a decrease of 1902 Kt. The findings of the scenario analysis demonstrate that the most efficient action of the pure electric technology for passenger cars reduces 20.92 Mt NOx emissions, and the parallel hybrid technology for heavy trucks offers the greatest cost effectiveness with a net abatement of 2577 Mt CO2 over its life cycle. Consequently, the aggressive development of new energy technology has become a prerequisite strategy to synergistically reduce CO2 and NOx emissions.