Search results for: financial sustainability

Authors: Pepur Sandra, Bulog Ivana, Rimac Smiljanić Ana

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During the COVID-19 pandemic, stress and family financial fragility arose worldwide. Economic and health uncertainty created new pressure on the everyday life of families. The work from home, homeschooling, and care of other family members caused an increase in unpaid work and generated a new division of intrahousehold. As many times before, women have taken the higher burden. This paper analyzes family stress and finance during the COVID-19 pandemic. We propose that women's inclusion in paid and unpaid work and their financial literacy influence family finances. We build up our assumptions according to the two theories that explain intrahousehold family decision-making: traditional and barging models. The traditional model assumes that partners specialize in their roles in line with time availability. Consequently, partners less engaged in payable working activities will spend more time on domestic activities and vice versa. According to the bargaining model, each individual has their preferences, and the one with more household bargaining power, e.g., higher income, higher level of education, better employment, or higher financial knowledge, is likely to make family decisions and avoid unpaid work. Our results are based on an anonymous and voluntary survey of 869 valid responses from women older than 18 conducted in Croatia at the beginning of 2021. We found that families who experienced delays in settling current obligations before the pandemic were in a worse financial situation during the pandemic. However, all families reported problems settling current obligations during pandemic times regardless of their financial condition before the crisis. Women from families with financial issues reported higher levels of family and personal stress during the pandemic. Furthermore, we provide evidence that more women's unpaid work negatively affects the family's financial fragility during the pandemic. In addition, in families where women have better financial literacy and are more financially independent, families cope better with finance before and during pandemics.

Keywords: family financial fragility, stress, unpaid work, women's financial literacy

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Authors: Gladie Lui

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The global credit crisis of 2008 aroused renewed interest in the effectiveness of corporate governance mechanisms to safeguard investor interests. In this paper, we measure the effect of the crisis from 2008 to 2009 on the stock performance of 976 Hong Kong-listed companies and examine its link to corporate governance mechanisms. It is evident that the crisis and the economic downturn affected different industries. Empirical results show that firms with an independent board and a high concentration of ownership and management ownership had lower abnormal stock returns, but a lower price volatility during the global financial crisis. These results highlight that no single corporate governance mechanism is fit for all types of financial crises and time frames. To strengthen investors’ confidence in the ability of companies to deal with such swift financial catastrophes, companies should enhance the dynamism and responsiveness of their governance mechanisms in times of turbulence.

Keywords: board of directors, capital market, corporate governance, financial crisis

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Authors: Sara Ali Alokley, Mansour Saleh Albarrak

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This paper investigates the dependency or clustering of extremes in the financial returns data by estimating the extremal index value θ∈[0,1]. The smaller the value of θ the more clustering we have. Here we apply the method of Ferro and Segers (2003) to estimate the extremal index for a range of threshold values. We compare the dependency structure of extremes in the developed and emerging markets. We use the financial returns of the stock market index in the developed markets of US, UK, France, Germany and Japan and the emerging markets of Brazil, Russia, India, China and Saudi Arabia. We expect that more clustering occurs in the emerging markets. This study will help to understand the dependency structure of the financial returns data.

Keywords: clustring, extremes, returns, dependency, extermal index

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Authors: Ananth Malali, Rohan Prasad, Ananth Revankar, Chiranth Hulgur

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This paper aims to show evidence that value creation by sustainable methods is achieved when a relation is shared with a sustainability attribute between two or more companies in every stage of the supply chain. The pillars of this paper, the value creation factors, attributes of sustainability and various relations that exist between firms in a horizontally integrated supply chain are defined. Further, a relational analysis was done using a simple analysis tool built based on research. Couple of case studies from the German manufacturing and Australian retail sectors were considered for the intra industry analysis and comparison. Taking the analysis ahead, for inter-industry comparison, the same cases were scrutinised in order to understand how the sustainability attributes change across each industry. Concluding, this paper gives an overview of how companies can plan their strategies to attain sustainability through horizontal integration.

Keywords: horizontal integration, value creation, sustainable supply chain

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Authors: Bernarette Soust Verdaguer

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Sustainability applied to the built environment has been understood in practice as a strategy to improve efficiency. Its evolution into ecology closer visions are becoming more intense. So the paradigm of regeneration is presented as a complementary alternative to sustainability, emphasizing the association with nature, betting adaptation, recovery and resilience. New design tools and evaluation of built spaces, incorporating this strategy are necessary. In this sense, how it could contribute to the concept of regeneration in built environment design and environmental impacts assessment tools? This paper explores and analyzes some of these keys.

Keywords: sustainability, regeneration, environmental impacts assessment, built environment

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Authors: Esra Yaldız, Dicle Aydın

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Sustainability is a term that provides deciding about the future considering environment and investigates the harmony and balance between protection and usage of the resource. The main objective of sustainability is creating residential areas is nature compatible or providing continuance thereby adapting existing residential area to nature. In this context, historical and traditional areas must have utilized according to sustainability. Traditional housing texture are identified as a traditional architectural product has been designed based on this term. General characteristics of traditional housing within the context of sustainable architecture are their specific dynamics and components and their harmonisation of environment and nature. Owing to the fact that traditional housing texture harmonizes natural conditions of the region, topography, climate and their context, construction materials are provided from environment and traditional techniques and their forms are used and due to construction materials has natural insulation traditional housing create healthy and comfortable living environment, traditional housing is rather significant in terms of sustainable architecture. The basis of this study comprise the routers in traditional housing design in accordance with the principles of sustainability. These are, accommodating topography, climate, and geography, accessibility, structuring at the scale of human, utilization of green zones, unique to the region used construction materials, the form of construction, building envelope and space organization of dwelling. In this context, the purpose of this study is that vernacular architecture approaches of traditional housing textures which are in Central Anatolia Region Located in Anatolia are utilized with regard to sustainability.

Keywords: Anatolia, sustainability, traditional housing texture, vernacular architecture

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Authors: Homa Hedayat

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In the dynamic urban landscape of Toronto, the concept of belonging assumes paramount importance. As global challenges—such as the pandemic, financial instability, and geopolitical shifts—reshape our world, understanding how different generations of immigrants establish connections within this multicultural metropolis becomes increasingly vital. Our research delves into forming a sense of belonging in urban spaces, specifically focusing on the experiences of Iranian immigrants residing in Toronto. By examining their perceptions of public places, attachment to residential neighborhoods, and the impact of the urban environment, we contribute to a more holistic understanding of social sustainability and community well-being. We unravel the intricate interplay between individual characteristics, housing context, and neighborhood dynamics through qualitative interviews and a quantitative survey. This research presents a study of the perception of public places and sense of belonging in residential neighbourhoods by younger and older Iranian immigrants living in the Toronto metropolitan area. Few works in the existing literature have investigated the relationship immigrants develop with the shared spaces of the city and their residential environment and how that relationship can impact the development of a ‘sense of belonging’ in the city. Ultimately, our findings pave the way for inclusive and cohesive urban environments, fostering connections across generations and enhancing Toronto’s resilience and harmony. As Toronto continues to evolve, nurturing a sense of belonging becomes paramount. Our research emphasizes the importance of social cohesion and community well-being. By fostering connections across generations, we pave the way for a more resilient and harmonious city.

Keywords: sense of belonging, multigenerational, urban spaces, social sustainability

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Authors: S. K. Ashiquer Rahman

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A cutting-edge online knowledge mediation system called "ePLANETe" provides a framework for building knowledge, tools and methods for all education, research and sustainable practices and elsewhere, as well as the deliberative assessment support of sustainability, biodiversity, and stakeholder involvement issues of the territorial development sector, e.g., agriculture.The purpose is to present, as sectorial and institutional perception, the 'ePLANETe' concept and functionalities as an experimental online platform for contributing the sustainability assessment, biodiversity, and stakeholder involvement. In the upshot, the concept of 'ePLANETe'isan investigation of the challenges of "online things, technology and application". The new digital technologies are exploited to facilitate collaborative technology and application to territorial development issues, e.g., agriculture. In order to investigate the dealing capacity (Qualitative and Quantitative) of sustainability, biodiversity, and stakeholder involvement of the agriculture sector through the stakeholder-based integrated assessment "Deliberation Support Tools (DST) and INTEGRAAL method" of collective resources. Specifically, this paper focuses on integrating system methodologies with deliberation tools for collective assessment and decision-making in implementing regional plans of agriculture. The aim of this report is to identify effective knowledge and tools and to enable deliberation methodologies regarding practices on the sustainability of agriculture and biodiversity issues, societal responsibilities, and regional planning that will create the scope for qualitative and quantitative assessments of sustainability as a new landmark of the agriculture sector.

Keywords: sustainability, biodiversity, stakeholder, dst, integraal

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Authors: Fernanda M. Assef, Maria Teresinha A. Steiner, David Gabriel F. Barros

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Review researches are useful in terms of analysis of research problems. Between the types of review documents, we commonly find bibliometric studies. This type of application often helps the global visualization of a research problem and helps academics worldwide to understand the context of a research area better. In this document, a bibliometric view surrounding clustering techniques and sustainability problems is presented. The authors aimed at which issues mostly use clustering techniques, and, even which sustainability issue would be more impactful on today’s moment of research. During the bibliometric analysis, we found ten different groups of research in clustering applications for sustainability issues: Energy; Environmental; Non-urban planning; Sustainable Development; Sustainable Supply Chain; Transport; Urban Planning; Water; Waste Disposal; and, Others. And, by analyzing the citations of each group, we discovered that the Environmental group could be classified as the most impactful research cluster in the area mentioned. Now, after the content analysis of each paper classified in the environmental group, we found that the k-means technique is preferred for solving sustainability problems with clustering methods since it appeared the most amongst the documents. The authors finally conclude that a bibliometric assessment could help indicate a gap of researches on waste disposal – which was the group with the least amount of publications – and the most impactful research on environmental problems.

Keywords: bibliometric assessment, clustering, sustainability, territorial partitioning

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Authors: Teguh Sugiarto

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Background: This study aims to explore the fraud that occurred in the financial statements using the Benford distribution law of 1st and 2nd case study of PT AKR Corporindo Tbk. Research Methods: In this study the authors use the first digit of the analysis and the analysis of the second digit of Bedford’s law. Having obtained the results of the analysis of the first and second digits, authors will make the difference between implementations using the scale above and below 5%. The number that has the level of difference in the range of 5% above or below, then a financial report in may, to analyse in the followup to the direction of the audit investigation, and authors assume happens a confusion in the financial statements. Findings: From research done, we found that there was a difference in the results of the appearance of the first digit of the number with the proper use of Benford's law, according to PT AKR Corporindo financial reports Tbk for the fiscal year 2006-2010, above and below the level the difference in set 5%. Conclusions: From the research that has been done, it can be concluded that on PT AKR Corporindo financial report 2006, 2007, 2008, 2009 and 2010, there is a level difference of appearance of numbers according to Benford's law is significant, as presented in the table analysis.

Keywords: Benford law, first digits, second digits, Indonesian company

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Authors: Malak M. Shatnawi

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Infrastructure is the fundamental facility that plays an important part in socio-economic development for modern societies, if such sector is well planned, managed by decision makers in a way that is compatible with the population growth, safety, and national security needs; it will enrich progress, prosperity, awareness, social and economic welfare for any country. Infrastructure is the most important aspect of life because it can provide materials, products, and services that will improve and facilitate living conditions and maintain sustainability at the same time, and in order to study critical infrastructure, in general, we must think sustainability. Otherwise there will be a significant gap. The planning processes for sustainability include urban infrastructure and public transportation are considered the most important sectors for economic development for both developed and developing countries as they are linked to the civilizational and urban development, meanwhile, choosing the appropriate transportation mode that will provide a good level of service, and increase the satisfaction of the potential users is a difficult task. This research paper tries to assess where is Jordan located vs. each transportation sustainability dimensions in aspects related to social, economic and environmental dimensions based on (Zietsman et al. 2006) adopted model for sustainability transportation infrastructure. Measures of performance indicators for each dimensional goal were traced and supported with needed data, figures and statistical findings. The study uses analytical, descriptive style and methodology based on different references and previous studies from secondary data sources to support the case. Recommendations for enhancing sustainability were concluded, and future reform directions were proposed which can be applied to Jordan and generalized for other developing countries with similar circumstances.

Keywords: infrastructure transportation sustainability, economic, social, environmental

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Authors: Hong Fan, Lifang Gao, Feng Zhan

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This paper examines the influence of local gambling attitudes on a firm's long-term financial performance. Firms located in gambling-prone regions may be more willing to take risks, thus spending more on innovative projects. However, firms in such regions may also be likely to choose projects impulsively and allocate resources inefficiently. By studying Chinese publicly listed firms from 2010 to 2017, we find that firms in more gambling-prone regions invest more in R&D. Both local gambling attitudes and firms’ R&D spending are positively associated with firms’ long-term financial performance. More importantly, our study reveals that the positive impact of R&D spending on firms’ long-term financial performance is weakened by gambling-friendly attitudes, probably because firms in gambling-prone regions are more likely to overinvest in risky projects. This effect is stronger for larger firms, state-owned enterprises (SOEs), firms with more government subsidies, and firms with weaker internal control.

Keywords: regional gambling attitudes, long-term financial performance, R&D, risk, local bias

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Authors: Ram Bikram Thapa, Ganesh Lama

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The Micro Hydro is one of the successful technology in Rural Nepal. Kavre is one of the pioneer district of sustainability of Micro Hydro Projects. A total of 30 Micro Hydro projects have been constructed with producing 700 KW of energy in northern side of the Kavre district. This study shows that 67% of projects have been affected by devastating earthquake in April and May, 2015. Out of them 23% are completely damaged. Most of the structures are failure like Penstock 71%, forebay 21%, powerhouse 7% have been completely damaged and 91% Canal & 44% Intake structures have been partially damaged by the earthquake. This paper empathizes that the engineering design is the vital component for sustainability of Micro Hydro Projects. This paper recommended that technicians should be considered the safety factor of earthquake and provision of disaster recovery fund during design of Micro Hydro Projects.

Keywords: micro hydro, earthquake, structural failure, sustainability

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Authors: Igor Perechuda, Wojciech Cieśliński

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The paper identifies the features of Polish sports clubs in the particular organizational forms: profit and nonprofit. Identification and description of these features is carried out in terms of financial efficiency of the given organizational form. Under the terms of the efficiency the research allows you to specify the advantages of particular organizational sports club form and the following limitations. Paper considers features of sports clubs in range of Polish conditions as legal regulations. The sources of the functioning efficiency of sports clubs may lie in the organizational forms in which they operate. Each of the available forms can be considered either a for-profit or nonprofit enterprise. Depending on this classification there are different capabilities of increasing organizational and financial efficiency of a given sports club. Authors start with general classification and difference between for-profit and non-profit sport clubs. Next identifies specific financial and organizational conditions of both organizational form and then show examples of mixed activity forms and their efficiency effect.

Keywords: financial efficiency, for-profit, non-profit, sports club

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Authors: Hadach Mohamed

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In Essaouira, tourism is the main economic activity, and the destination has a place in the segment of rural and sustainable tourism. The hinterland of the destination has natural and tourist potential of great attractiveness, but the natives still appropriate the territory and are faced with the dilemma of appropriation and tourist exploitation. This article analyzes the determinants of the appropriation of a rural tourist space in light of the massive touristification and the need to set up income-generating activities for the inhabitants. After a review of the literature, a survey was carried out among the main actors of tourism in the destination to evaluate the question of the appropriation of the tourist space and the sustainability of a destination.

Keywords: rural tourism, sustainability, appropriation, tourism destination

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Authors: Igho Ekiugbo, Christos Papanagnou

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The energy sector continues to face increased scrutiny due to climate change challenges emanating from the burning of fossil fuels, such as coal, oil, and gas. These climate change challenges have motivated industry practitioners and researchers alike to gain an interest in the way businesses operate. This paper aimed to investigate and assess how small and medium-sized enterprises (SMEs) are reducing the impact of their operations, especially those within their supply chains, by assessing the sustainability practices they have adopted and implemented as well as the benefits and challenges of adopting such practices. Data will be collected from SMEs operating across the downstream oil and gas sector in Nigeria using questionnaire surveys. To analyse the data, confirmatory factor analysis and regression analysis will be performed. This method is deemed more suitable and appropriate for testing predefined measurements of sustainable supply chain practices as contained in the extant literature. Preliminary observations indicate a consensus on the awareness of the sustainability concept amongst the target participants. To the best of our knowledge, this paper is among the first to investigate the sustainability practices of SMEs operating in the Nigerian oil and gas sector and will therefore contribute to the sustainability and circular economic literature.

Keywords: small and medium-sized enterprises, sustainability practices, supply chains, sustainable supply chain management, corporate sustainability, oil and gas, business performance

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Authors: Dina Tamazin, Nicoleta Tipi, Sahar Validi

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The oil refining industry plays vital role in the world economy. Oil refining companies operate in a more complex and dynamic environment than ever before. In addition, oil refining companies and the public are becoming more conscious of crude oil scarcity and climate changes. Hence, sustainability in the oil refining industry is becoming increasingly critical to the industry's long-term viability and to the environmental sustainability. Mainly, it is relevant to the measurement and evaluation of the company's sustainable performance to support the company in understanding their performance and its implication more objectively and establishing sustainability development plans. Consequently, the oil refining companies attempt to re-engineer their supply chain to meet the sustainable goals and standards. On the other hand, this research realized that previous research in oil refining sustainable supply chain performance measurements reveals that there is a lack of studies that consider the integration of sustainability in the supply chain performance measurement practices in the oil refining industry. Therefore, there is a need for research that provides performance guidance, which can be used to measure sustainability and assist in setting sustainable goals for oil refining supply chains. Accordingly, this paper aims to present a comprehensive oil refining sustainable supply chain performance measurement theoretical framework. In development of this theoretical framework, the main characteristics of oil refining industry have been identified. For this purpose, a thorough review of relevant literature on performance measurement models and sustainable supply chain performance measurement models has been conducted. The comprehensive oil refining sustainable supply chain performance measurement theoretical framework introduced in this paper aims to assist oil refining companies in measuring and evaluating their performance from a sustainability aspect to achieve sustainable operational excellence.

Keywords: oil refining industry, oil refining sustainable supply chain, performance measurement, sustainability

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Authors: Mohammed Aman Kassim

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This study aims to investigate attitudes of resort hotel managers toward environmental sustainability practice in Bishoftu Town, Ethiopia. Six resorts were selected out of twelve by using systematic sampling method and totally fifty-six managers were taken for the survey. The findings revealed that more than 99% of hotel managers possess positive attitudes but low level of performance. Owners’ attitudes and personal beliefs, government regulation and incentives for good achievement were the most important factors that motivate or influence the adoptions of environmental sustainability practices. Hotel managers’ environmental attitudes more significantly influenced by their social demographics, such as level of education and age. Therefore, in order to increase hotels commitment to become more sustainable, some measurement should be implemented, such as vigorous support of the government, cooperation with hotel associations, continuous behaviors of hotel environmental protection, and local community participation in environmental practice.

Keywords: environmental attitude, environmental sustainability, hotel managers, resorts

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Authors: Elisabete Alberdi, Irantzu Álvarez, Laura Girón

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The objective of this work is to propose a cycle path or network of paths to the UPV/EHU Campus in Leioa. The proposal will be presented from the point of view of sustainability. In order to achieve this, the roads that are already built will be used, and the road or network will be proposed to be built with the least amount of money possible. To select the most suitable route for the bike lane, various sources of information have been used. Through this data, we analyse the transport infrastructure and the mobility around the UPV/EHU Campus in Leioa. This work aims to satisfy the mobility needs of users on the University Campus to contribute to the sustainability of the campus.

Keywords: cycle lane, sustainability, accessibility, transport, agenda 2030

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Authors: Ahmadreza Hakiminejad, Changfeng Fu, Hamideh Mohammadzadeh Titkanlou

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For decades, sustainable development has been an imperative concern in the process of urban development of the world’s developed countries. Despite the fact that the concept of sustainability, primarily, emerged by virtue of warning over global environmental catastrophes, it subsequently led to the ongoing debates not only over environmental, but also economic and sociocultural issues involved. This study, particularly, discusses the constituents of social sustainability– as one of the three pillars of sustainable development– and its situation within an urban context. It tries to investigate the interrelationships between the elements of social sustainability and the quality of physical environment. The paper, firstly, depicts a theoretical overview of the notions of social sustainability and urban form. Secondly, it will discuss the interrelationship between the two. And lastly, it will investigate and analyse this interrelationship through the historical transformation of Iranian cities. The research aims to answer this very question that how the urban form within the context of the built environment can influence the social behaviors so as to achieve a more sustainable society. It is to examine how and why compact, high-density and mixed-use urban patterns are environmentally sound, efficient for transport, socially beneficial and economically viable. The methodology used in this paper is desk research. Thus, the documents from different urban related disciplines including urban planning, urban design, urban sociology and urban policy have been reviewed. The research has also applied a comparative approach to discuss and analyse the impacts of different urban forms on the elements of social sustainability within the context of modern and traditional Iranian cities. The paper concludes with an examination of possible future directions of Iranian cities with consideration to socio-cultural concepts and the challenges that will have to be overcome to make progress towards social sustainability.

Keywords: social sustainability, urban form, compact city, Iranian cities

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Authors: Spase Janevski

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We, as designers, should be aware of the consequences of our material selection, at the early stages of the design process. Some of the designer’s decisions can have a very significant impact on design for sustainability. The influence of this concept has led to years of research studies into eco-friendly materials and their potentials for creating new sustainable products. In order to answer the question, 'how cork has become a design trend', this paper will present an overview of the implications of the concept of design for sustainability on the potential uses of cork material. A decade ago, cork as a material had an association with wine stoppers, but with the evolution of sustainable product design as part of the concept of design for sustainability, cork now offers product designers a wide range of new materials and applications. The purpose of this paper is to show how the phenomenon of sustainability has had an impact on the progress of the material which is currently not being an integral component of the design material palette. At the beginning, the nature of the relationship between cork and sustainability will be explained through the following stages: 1) fundamental understanding of the concept of Design for Sustainability and the importance of material selection for sustainable product design, and 2) the importance of cork oak trees for the environment and the environmental impacts of cork products. In order to examine and present the influence of the sustainability on the innovation in cork applications, the paper will provide a historical overview of designing with cork. The overview will consist of four stages: 1) pre-industrial period - the period when ancient nations used cork and amphoras to store their wine; 2) industrial period - emergence and industrialization of well-known wine stoppers; 3) post-industrial period - commercializing cork products in the area of floors and coverings and first developments in industrial research; and 4) the period when large cork realized the importance of sustainability and started to focus more markedly on research and development. The existence of new cork materials, the investigation in new applications and the investment in new innovations have proved that the sustainability approach has had a great influence on the revival of this material. In addition, the paper will present some of the new cork innovative materials and applications and their potentials for designing promising and sustainable solutions with additive manufacturing technologies, such as 3D printing. Lastly, the paper will introduce some questions for further study, such as the environmental impacts of the new hybrid materials and the gap between cork industry and cork research and development teams. The paper concludes by stating that cork is not only a material for wine stoppers anymore, thanks to the awareness of the concept of design for sustainability.

Keywords: cork, design for sustainability, innovation, sustainable materials

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Authors: Fawad Azeem

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This paper deals with the comparative analysis of Karachi Electric before and after privatization. Technical as well as financial analysis has been done based on the available KE’s stats for last decade. Karachi Electric has evolved as a better entity in terms of its financial and technical achievements. On the other hand, human resources have been seriously affected due to mass firing of employees from the organizations. Study and analysis show that transparent and unbiased privatization practices on institutions like KE that were in serious trouble can upsurge the standards of the institution. Further, for the betterment of the social circle privatization must not affect the employment opportunities.

Keywords: Karachi Electric, power, energy, privatization

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Authors: Astha Sinha, Anjali Kanagali

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The United Kingdom’s withdrawal from the European Union, also termed as “Brexit,” took place on June 23, 2016 and immediately had global repercussions on the stock markets of the world. It is however expected to have a greater impact on the Banking sector in the UK. There is a two-fold effect on the earnings of banks which is being expected. First is of the trading activity and investment banking businesses being hit due to global weakness in financial markets. Second is that the banks having a large presence in the European Union will have to restructure their operations in order to cover other European countries as well increase their operating costs. As per the analysis, banks are expected to face rate cuts, bad loans, and tight liquidity. The directives in the Brexit negotiations on the Markets in Financial Instruments Directive (MiFID) will be a major decision to be taken for the Banking sector. New regulations will be required since most of the regulations governing the financial services industry allowing for the cross-border transactions were at the EU level. This paper aims to analyze the effect of Brexit on the UK Banking sector and changes in regulations that are expected due to the same. It shall also lay down the lessons learnt from the 2008 financial crisis and draw a parallel in terms of potential areas to be focused on for revival of the financial sector of Britain.

Keywords: Brexit, Brexit impact on UK, impact of Brexit on banking, impact of Brexit on financial services

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Authors: Joy Debski

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Due to the varying degrees of the problem posed by global warming, environmental sustainability dominates international discourse. International initiatives' aims and expectations have proven particularly challenging to put into practice in developing nations. To reduce human exploitation of the environment, stricter measures are urgently needed. However, putting them into practice has proven more difficult. Relatively recent information from the Climate Accountability Institute and academic researchers shows that fossil fuel companies are major contributors to the climate crisis. Host communities in oil and gas-producing areas, particularly in developing nations, have grown hostile toward both oil and gas companies and government policies. It is now essential that the three main stakeholders—government, the oil and gas sector, and host communities—cooperate to achieve the shared objective of environmental sustainability. This research, therefore, advocates a governance system for Nigeria that facilitates the achieving the goal of environmental sustainability. This objective is achieved by the research's examination of the main institutional framework for environmental sustainability, evaluation of the strategies used by major oil companies to increase stakeholder engagement in environmental sustainability, and examination of the involvement of host communities in environmental sustainability. The study reveals that while environmental sustainability is important to the identified stakeholders, it's challenging to accomplish without an informed synergy. Hence the research advocates the centralisation of CSR through a CSR commission for environmental sustainability. The commission’s mandate is to facilitate, partner with, and endorse companies. The commission is strongly advised to incorporate host community liaison offices into the process of negotiating contracts with oil and gas firms, as well as to play a facilitative role in helping firms adhere to both domestic and international regulations. The recommendations can benefit Nigerian policymakers in enhancing their unsuccessful efforts to pass CSR legislation. Through the research-proposed CSR department, which has competent training and stakeholder engagement strategies, oil and gas companies can enhance and centralise their goals for environmental sustainability. Finally, the CSR Commission's expertise would give host communities more leverage when negotiating their memorandum of understanding with oil and gas companies.

Keywords: environmental sustainability, corporate social responsibility, CSR, oil and gas, nigeria

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Authors: Zairani Zainol, Zulkiflee Daud

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This study employed 86 respondents representing bank officers of Bank XYX (one of the full-fledged Islamic banks in Malaysia) in the northern region of Malaysia to assess the factors that constitute talent in the Islamic financial industries. To test the discriminant factors for talent among bank officers, a factor analysis was performed. The KMO, Bartlett and MSA tests were executed as the prerequisite before performing the factor analysis. The discriminant factors for talent were extracted via eigenvalues and rotated component matrixes. The results show that five factors, namely (1) self-motivation, (2) leadership, (3) teamwork, (4) interpersonal skills, and (5) creativity/innovation constitute talent in the Islamic financial industries. It is hoped that this study could offer guidelines to education providers, specifically those that conduct the Islamic finance and banking program, as to the areas of emphasis for students before graduating. For the Islamic financial institutions, this study is also vital since they could tackle the areas that need to be improved in managing their talents.

Keywords: talent, Islamic financial industries, talent development, bank’s officers

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Authors: Piotr Prewysz-Kwinto

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A dynamic development of financial market is accompanied by the emergence of new products on stock exchanges which give absolutely new possibilities of investing money. Currently, the most innovative financial instruments offered to investors are exchange traded products (ETP). They can be defined as financial instruments whose price depends on the value of the underlying instrument. Thus, they offer investors a possibility of making a profit that results from the change in value of the underlying instrument without having to buy it. Currently, the Warsaw Stock Exchange offers many types of ETPs. They are investment products with full or partial capital protection, products without capital protection as well as leverage products, issued on such underlying instruments as indices, sector indices, commodity indices, prices of energy commodities, precious metals, agricultural produce or prices of shares of domestic and foreign companies. This paper presents the mechanism of functioning of ETP available on the Warsaw Stock Exchange and the results of the analysis of statistical data on these financial instruments.

Keywords: exchange traded products, financial market, investment, stock exchange

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Authors: Aline F. Marcon, Eduardo F. da Silva, Marina Bouzon

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The impact of lean management on environmental sustainability is the research line that receives the most attention from academicians. Therefore, the social dimension of sustainable development has so far received less attention. This paper aims to evaluate the impact of intra-plant lean manufacturing practices on social sustainability indicators extracted from the Global Reporting Initiative (GRI) parameters. The method is two-phased, including MCDM approach to uncover the most relevant practices regarding social performance and Interpretive Structural Modeling (ISM) method to reveal the structural relationship among lean practices. Professionals from the academic and industrial fields answered the questionnaires. From the results of this paper, it is possible to verify that practices such as “Safety Improvement Programs”, “Total Quality Management” and “Cross-functional Workforce” are the ones which have the most positive influence on the set of GRI social indicators.

Keywords: indicators, ISM, lean, social, sustainability

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Authors: Rashika Sharma

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The campuses at tertiary institutes can act as a social environment for peer to peer connections. However, socialization is not the only aspect that campuses provide. The campus can act as a learning environment that has often been termed as the campus curriculum. Many tertiary institutes have taken steps to make their campus a ‘green campus’ whereby initiatives have been taken to reduce their impact on the environment. However, as visible as these initiatives are, it is debatable whether these have any effect on students’ and their understanding of sustainable campus operations. Therefore, research was conducted to evaluate the effectiveness of sustainable campus operations in raising students’ awareness of sustainability. Students at two vocational institutes participated in this interpretive research with data collected through surveys and focus groups. The findings indicated that majority of vocational education students remained oblivious of sustainability initiatives on campuses.

Keywords: campus learning, education for sustainability, social learning, vocational education

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Authors: Cheng Li, Jie Shen, Yutian Tang

Abstract:

Embracing the upcoming era of urbanization with the challenges of limitation of resources, disappearing cultural identities and conflicts among different groups of stakeholders, new integrated approaches are offered in our urban practice to help decision-makers and stakeholders frame and develop well-conceived, practical strategies for urban developing trajectories to approach urban-level sustainability in multiple social, cultural, ecological dimensions. Through bottom-up participation, we take advantage of tourism and leisure industries as driving forces for urbanization in China to promote integrated sustainable systems, with the hope of approaching both historical and ecological aspects of urban sustainability; and also thanks to top-down participation, we have codes, standards and rules established by the governments to strengthen the implementation of ecological urban sustainability. The results are monitored and evaluated experimentally and multidimensionally and the sustainable systems we constructed with local stakeholder groups turned out to be effective. The presentation of our selected projects would indicate our different focuses on urban sustainability.

Keywords: urban sustainability, integrated urban strategy, tourism and leisure industries, history, modern technology

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Authors: Natalia Feruleva

Abstract:

The goal of this paper is to develop the fraud risk assessment model basing on both relational and financial data and test the impact of the relationships between Russian non-public companies on the likelihood of financial fraud commitment. Relationships mean various linkages between companies such as parent-subsidiary relationship and person-related relationships. These linkages may provide additional opportunities for committing fraud. Person-related relationships appear when firms share a director, or the director owns another firm. The number of companies belongs to CEO and managed by CEO, the number of subsidiaries was calculated to measure the relationships. Moreover, the dummy variable describing the existence of parent company was also included in model. Control variables such as financial leverage and return on assets were also implemented because they describe the motivating factors of fraud. To check the hypotheses about the influence of the chosen parameters on the likelihood of financial fraud, information about person-related relationships between companies, existence of parent company and subsidiaries, profitability and the level of debt was collected. The resulting sample consists of 160 Russian non-public firms. The sample includes 80 fraudsters and 80 non-fraudsters operating in 2006-2017. The dependent variable is dichotomous, and it takes the value 1 if the firm is engaged in financial crime, otherwise 0. Employing probit model, it was revealed that the number of companies which belong to CEO of the firm or managed by CEO has significant impact on the likelihood of financial fraud. The results obtained indicate that the more companies are affiliated with the CEO, the higher the likelihood that the company will be involved in financial crime. The forecast accuracy of the model is about is 80%. Thus, the model basing on both relational and financial data gives high level of forecast accuracy.

Keywords: financial fraud, fraud prediction, non-public companies, regression analysis, relational data

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