Search results for: financial sustainability

Authors: Muhammad Mustafizur Rahaman

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Social business is a new concept in the field of Business Economics and Capitalist Economy. It has increased the importance in economic and social development in emerging economies. Professor Muhammad Yunus is the founding father of the notion. While conventional business underscores profit maximization as a core business principle, social business calls for addressing social problems at the expense of profit. This underlying principle gives social business advantageous position over conventional businesses to serve those who live at the bottom of the pyramid. It also poses grave challenges to the social business because social business sacrifices profit at one hand and seeks financial sustainability on the other. For the sake of its financial sustainability, the social business might increase the price of its product or service which might lower its social impact, thus, makes the business self-defeating. Therefore, social business should be more innovative in every business process including production, marketing, and management. Otherwise, the business is unlikely to be driven out from the society.

Keywords: innovativeness, self-defeat, social business, social problem

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Authors: Levan Sabauri

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In this paper, we discuss the deteriorated standing of engineering companies, some of the reasons behind it and the problems facing engineering enterprises during the financial crisis. We show the part that financial analysis plays in the detection of the main factors affecting the standing of a company, classify internal problems and the reasons influencing efficiency thereof. The publication contains the analysis of municipal engineering companies in post-Soviet transitional economies. In the wake of the 2008 world financial crisis the issue became even more poignant. It should be said though that even before the problem had been no less acute for some post-Soviet states caught up in a lengthy transitional period. The paper highlights shortcomings in the management of transportation companies, with new, more appropriate methods suggested. In analyzing the financial stability of a company, three elements need to be considered: current assets, investment policy and structural management of the funding sources leveraging the stability, should be focused on. Inappropriate management of the three may create certain financial problems, with timely and accurate detection thereof being an issue in terms of improved standing of an enterprise. In this connection, the publication contains a diagram reflecting the reasons behind the deteriorated financial standing of a company, as well as a flow chart thereof. The main reasons behind low profitability are also discussed.

Keywords: efficiency, financial management, financial analysis funding structure, financial sustainability, investment policy, profitability, solvency, working capital

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Authors: Laura Álvarez Antón, Joaquín Díaz

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The construction industry is turning towards sustainability. It is a well-known fact that sustainability is based on a balance between environmental, social and economic aspects. In order to achieve sustainability efficiently, these three criteria should be taken into account in the initial project phases, since that is when a project can be influenced most effectively. Thus the aim must be to integrate important tools like BIM and LCA at an early stage in order to make full use of their potential. With the synergies resulting from the integration of BIM and LCA, a wider approach to sustainability becomes possible, covering the three pillars of sustainability.

Keywords: building information modeling (BIM), construction industry, design phase, life cycle assessment (LCA), sustainability

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Authors: Lim Poh Im

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This paper examines the current strategic and planning issues in the provision of affordable housing in urban centres in Malaysia from the perspective of sustainability. Sustainability here refers to social sustainability such as the need to address urban poverty and ensure better quality of life; economic sustainability in ensuring that the financial mechanisms are healthy and stable in the long-run, and to a lesser extent, environmental sustainability in reducing pollution related problems and building footprint. The Malaysian affordable housing sector has undergone tremendous transformations since the sixties, transcending from the earlier social housing catering to the poorer strata of the society, to the current state of housing woes plaguing the young urban middle class. The increase in urban land prices and construction costs, coupled with rampant property speculative and manipulative activities have resulted in situations of housing that are largely unaffordable even to the middle income sector of the urban populations. To overcome such scenario, the public as well as private sectors in the recent years, have came up with various intermediate, as well as medium-term policies aimed to curb the burning housing needs of the urban populations. Key strategies include financial intervention in regulating the interests rates, imposing property gain taxes; loosening the requirement for density and other planning requirements, faster approval of projects, compulsory contribution from developers, etc. Some of the policies are commendable, while others are ad-hoc by nature, and are not able to resolve the long-term socio-economic challenges. This paper discusses and examines the issues from the ‘sustainability’ perspective, focusing on key fiscal, land use and planning policies, as well as the more subtle (but important) political and institutional factors shaping the provision of mass housing for the urban populations in Malaysia.

Keywords: affordable housing, urban housing, sustainable housing, planning for urban housing

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Authors: Saeed Rabea Baatwah, Zalailah Salleh, Norsiah Ahmad

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This study examines whether audit committee chair with financial expertise enhances the audit committee role in financial reporting quality in emerging market. We investigate this influence by employing the direct effect and moderating effect of audit committee chair with financial expertise on financial reporting timeliness. By using Omani data and the panel data method for two proxies for financial reporting timeliness, we find that audit committee chair with financial expertise enhances the timeliness of financial reporting through making the disclosure of annual reports timely. Further, we report evidence showing that both accounting and non-accounting financial expertise on the audit committee have a positive and significant influence on the timeliness of financial reporting. We also document that the association between financial expertise and the timeliness of financial reporting is more pronounced when the chair of the audit committee has financial expertise. This study is among the first to comprehensively prove that audit committee chair with financial expertise contributes to the quality of financial reporting in emerging market.

Keywords: audit committee, chair with financial expertise, timeliness of financial reporting, Oman

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Authors: Prasansha Kumari

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Financial Literacy is the possession of knowledge and understanding of financial matters. Financial Literacy often entails the knowledge of properly making decisions pertaining to certain personal financial areas like real estate, insurance investing, and savings. This paper intends to identify and analyze the financial knowledge among university undergraduates by using 200 undergraduates in four faculties of University of Kelaniya, Sri Lanka. Collected data will be analyzed by descriptive research method using SPSS package. Expected outcomes are considerable percentage of undergraduates have basic knowledge on financial matters while it has a law percentage for advanced financial literacy among undergraduates. Students from faculty of Commerce and Management and Science have good understanding about financial matters than undergraduates in other two faculties

Keywords: advanced finance, undergraduates, financial literacy, savings

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Authors: Narendra Babu Bommenahalli Veerabhadrappa

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Teaching sustainability concepts along with profit maximizing philosophy of business in management education is a challenge. This paper explores and evaluates various learning models to inculcate sustainability concepts in management education. The paper explains about a new pedagogy that was tested in a business management school (Indus Business Academy, Bangalore, India) to teach sustainability. The pedagogy was designed by intertwining concepts related to sustainability with digital marketing concepts. As part of this experimental method, students (in groups) were assigned with various topics of sustainability and were asked to work with concepts of digital marketing and thus market the concepts of sustainability. The paper explains as a case study as to how sustainability was integrated with digital marketing tools and how learning towards sustainability was facilitated. It also explains the outcomes of this pedagogical method, in terms of inculcating sustainability concepts amongst management students as well as marketing and proliferation of sustainability concepts to bring about the behavioral changes amongst target audience towards sustainability.

Keywords: management-education, pedagogy, sustainability, behavior

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Authors: Abongile Zweni

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As a post-apartheid strategy to redress the social imbalances of the past, local governments are tasked with the role of delivering crucial services to their constituents. Apart from political instability, evidence shows that managers in South African municipalities lack effective financial management skills and competencies. This resulted in a failure to fulfill its administrative obligations, particularly municipal financial management. Most municipalities have, however, failed in this role, which has led them to be placed under administration by the provincial government in terms of Section 139 of the constitution of the Republic of South Africa. Thus, this study proposed a leadership conceptual framework for effectively managing ever-eroding municipal finances in South Africa. The study adopted a desktop research approach to explore the key components of leadership and municipal financial management toward the development of the conceptual framework. The study fostered a better understanding of the need for transformation in relation to the current financial management practices and sustainability of a municipality. Moreover, the conceptual framework applies not only to municipalities but also to other government departments and public authorities in the country for financial management.

Keywords: leadership, municipal finance, financial performance, management skills, municipality

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Authors: Anand Ankush, Wani Mohammed Farooq

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A procedure based on digraph and matrix method is developed for modelling and evaluation of sustainability of Mechanical System in a concurrent engineering environment.The sustainability parameters of a Mechanical System are identified and are called sustainability attributes. Consideration of attributes and their interrelations is rudiment in modeling and evaluation of sustainability index. Sustainability attributes of a Mechanical System are modelled in termsof sustainability digraph. The graph is represented by a one-to-one matrix for sustainability expression which is based on sustainability attributes. A variable sustainability relationship permanent matrix is defined to develop sustainability expression(VPF-t) which is also useful in comparing two systems in a concurrent environment. The sustainability index of Mechanical System is obtained from permanent of matrix by substituting the numerical values of attributes and their interrelations. A higher value of index implies better sustainability of system.The ideal value of index is obtained from matrix expression which is useful in assessing relative sustainability of a Mechanical System in a concurrent engineering environment. The procedure is not only useful for evaluation of sustainability of a Mechanical System at conceptual design stage but can also be used for design and development of systems at system design stage. A step-by-step procedure for evaluation of sustainability index is also suggested and is illustrated by means of an example.

Keywords: digraph, matrix method, mechanical system, sustainability

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Authors: Sawarni Hasibuan, Juliza Hidayati

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Competitiveness and sustainability issues not only put pressure on big companies, but also small and medium enterprises (SMEs). SMEs Batik Bogor is one of the local culture-based creative industries in Bogor city which is also dealing with the issue of sustainability. The purpose of this research is to develop framework of sustainability at SMEs Batik Indonesia case of SMEs Batik Bogor by integrating innovation of cleaner production in its supply chain. The approach used is desk study, field survey, in-depth interviews, and benchmarking best practices of SMEs sustainability. In-depth interviews involve stakeholders to identify the needs and standards of sustainability of SMEs Batik. Data analysis was done by benchmarking method, Multi Dimension Scaling (MDS) method, and Strength, Weakness, Opportunity, Threat (SWOT) analysis. The results recommend the framework of sustainability for SMEs Batik in Indonesia. The sustainability status of SMEs Batik Bogor is classified as Moderate Sustainable. Factors that support the sustainability of SMEs Batik Bogor such is a strong commitment of top management in adopting cleaner production innovation and creativity approach. Successful cleaner production innovations are implemented primarily in the substitution of dye materials from toxic to non-toxic, reducing the intensity of non-renewable energy use, as well as the reuse and recycle of solid waste. “Mosaic Batik” is one of the innovations of solid waste utilization of batik waste produced by company R&D center that gives benefit to three pillars of sustainability, that is financial benefit, environmental benefit, and social benefit. The sustainability of SMEs Batik Bogor cannot be separated from the support of Bogor City Government which proactively facilitates the promotion of sustainable innovation produced by SMEs Batik Bogor.

Keywords: cleaner production innovation, creativity, SMEs Batik, sustainability supply chain

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Authors: Muhammad Abdullah, Muhammad Atiq Ur Rehman Tariq, Faraz Ul Haq

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In developed countries, sustainability measures are widely accepted and acknowledged as crucial for addressing environmental concerns. Hydroponics, a soilless cultivation technique, has emerged as a potentially sustainable solution as it can reduce water consumption, land use, and environmental impacts. However, hydroponics may not be economically viable, especially when using reclaimed water, which may entail additional costs and risks. This study aims to address the critical question of whether hydroponics using reclaimed water can achieve a balance between sustainability and financial viability. Life Cycle Assessment (LCA) and Life Cycle Cost (LCC) will be integrated to assess the potential of hydroponics whether it is environmentally sustainable and economically viable. Life cycle assessment, or LCA, is a methodology for assessing environmental impacts associated with all the stages of the life cycle of a commercial product, process, or service. While Life Cycle Cost (LCC) is an approach that assesses the total cost of an asset over its life cycle, including initial capital costs and maintenance costs. The expected benefits of this study include supporting evidence-based decision-making for policymakers, farmers, and stakeholders involved in agriculture. By quantifying environmental impacts and economic costs, this research will facilitate informed choices regarding the adoption of hydroponics with reclaimed water. It is believed that the outcomes of this research work will help to achieve a sustainable approach to agricultural production, aligning with sustainability goals while considering economic factors by adopting hydroponic technique.

Keywords: hydroponic, life cycle assessment, life cycle cost, sustainability

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Authors: Judit Nagy

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Many scientific studies claim that financial education should start as early as possible. Children are much more capable of and willing to absorb new concepts than adults. If we introduce children to financial knowledge early, their behaviour and attitudes to this subject will change, increasing later success in this area of life. However, poor financial decisions may entail severe consequences, not only to individuals but even to the wider society. Good financial decisions and economic attitudes may contribute to economic growth and well-being. Whilst in several countries, education about financial awareness and fundamentals is available, the understanding and acquisition of complex economic knowledge and the development of children’s independent problem-solving skills are still lacking. The results suggest that teaching economic and financial knowledge through accounting and making lectures interactive by using special tools of positive education is critical to stimulating children’s interest. Eighty percent of the students in the study liked the combined and interactive lecture. Introducing this kind of knowledge to individuals is a relevant objective, even at the societal level.

Keywords: positive psychology, education innovation, primary school, gender, economics, accounting, finance, personal finance, mathematics, economic growth, well-being, sustainability

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Authors: Laura de Zwaan, Tracey West

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There is a sustained observable gender gap in financial literacy, with females consistently having lower levels than males. This research explores the knowledge and experiences of high school students in Australia aged 14 to 18 in order to understand how this gap can be improved. Using a predominantly qualitative approach, we find evidence to support impacts on financial literacy from financial socialization and socio-economic environment. We also find evidence that current teaching and assessment approaches to financial literacy may disadvantage female students. We conclude by offering recommendations to improve the way financial literacy education is delivered within the curriculum.

Keywords: financial literacy, financial socialization, gender, maths

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Authors: Zeynep Şahin, Züleyha Yılmaz, Fikret Çankaya

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In today's business world, in which it is difficult to survive, the economic life of products, services or knowledge is considerably reduced. Competitors produce similar products or extra-featured ones instantly. In this environment, the contribution of companies to the social and economic environment is a preferred criterion by consumers alongside products or services. Therefore, consumers need to obtain more detailed information about companies. Besides, this drastic change in the market encourages companies to become sustainable. Sustainable business means the company puts consumed products back. Corporate sustainability, corresponds to sustainability at the level of the company, and gives equal importance to company growth and profitability together with environmental and social issues. The BIST Sustainability Index started to be calculated by the Istanbul Stock Exchange (BIST) in 2014 to evaluate the sustainability performance of companies in Turkey. The main objective of this study is to present the importance of sustainability reports in Turkey. To this aim, the performances of 15 companies in the BIST Sustainability Index were compared the periods before and after entering the index. On the other hand, sustainability reporting practices should be encouraged to increase studies on this issue. In this context, to remain on the agenda of the issue is a further objective of this study. To achieve these objectives, the financial data of the companies in the period before and after entering to the BIST Sustainability Index were analyzed using t-test in Statistical Package for the Social Sciences (SPSS) package. The results of the study showed that no significant difference between the performances of the companies in terms of the net profit margin, the return on assets and equity capital in these periods could be found. Therefore, it can be said that insufficient importance is given to sustainability issues in Turkey. The reasons for this situation might be considered as a lack of awareness due to the recent introduction and calculation of the index. It is expected that the awareness of firms and investors about sustainability will increase, and that they will demonstrate the necessary importance to this issue over time.

Keywords: sustainability reporting, sustainability index, firm performance, BIST sustainability index

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Authors: Seyed Sajjad Habibi

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The aim of this study is to investigate the impact of global financial crises and corporate financial crisis on tax evasion of companies listed on the Tehran Stock Exchange. For this purpose, panel data in the periods of financial crisis period (2007 to 2012) and without a financial crisis (2004, 2005, 2006, 2013, 2014, and 2015) was analyzed using multivariate linear regression. The results indicate a significant relationship between the corporate financial crisis (bankruptcy risk) and tax evasion in the global financial crisis period. The results also showed a significant relationship between the corporate bankruptcy risk and tax evasion in the period with no global financial crisis. A significant difference was found between the bankruptcy risk and tax evasion in the period of the global financial crisis and that with no financial crisis so that tax evasion increased in the financial crisis period.

Keywords: global financial crisis, corporate financial crisis, bankruptcy risk, tax evasion risk, emerging markets

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Authors: Zouari Ezzeddine, Ghraieb Ikram

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From the results of the academic literature which evokes the limitations of previous studies, this article shows the reasons for multidimensionality Prediction of financial bubbles. A new framework for modeling study predicting financial bubbles by linking a set of variable presented on several dimensions dictating its multidimensional character. It takes into account the preferences of financial actors. A multicriteria anticipation of the appearance of bubbles in international financial markets helps to fight against a possible crisis.

Keywords: classical measures, predictions, financial bubbles, multidimensional, artificial neural networks

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Authors: Bayan Ahmed Alsaffar

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The aim of this study is to assess the sustainability initiatives at Applied Sciences University (ASU) in Bahrain using a mixed-methods approach based on students, staff, and faculty perceptions. The study involves a literature review, interviews with faculty members and students, and a survey of ASU's level of sustainability in education, research, operations, administration, and finance that depended on the Sustainability Tracking, Assessment & Rating System (STARS). STARS is a tool used to evaluate the sustainability performance of higher education institutions. The study concludes that a mixed-methods approach can provide a powerful tool for assessing sustainability initiatives at ASU and ultimately lead to insights that can inform effective strategies for improving sustainability efforts. The current study contributes to the field of sustainability in universities and highlights the importance of user engagement and awareness for achieving sustainability goals.

Keywords: environment, initiatives, society, sustainability, STARS, university

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Authors: Mkhitaryan Davit

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The tourism and hospitality industry plays a significant role in China's economy, but it also poses environmental, social, and economic challenges. This paper examines the concept of sustainability within the context of China's tourism and hospitality industry, exploring best practices from 26 Hotels in 15 cities and identifying key challenges. Drawing upon a comprehensive review of existing literature, case studies, and interviews with industry experts, the paper highlights successful sustainability initiatives implemented by various stakeholders, including government bodies, businesses, and non-governmental organizations. Additionally, it discusses the barriers and obstacles hindering the widespread adoption of sustainable practices in the sector, such as lack of awareness, financial constraints, and regulatory issues. The findings provide insights for policymakers, industry practitioners, and researchers to develop strategies and solutions for promoting sustainable tourism and hospitality practices in China, ultimately contributing to the long-term viability and resilience of the industry.

Keywords: sustainability, waste management, renewable energy, hospitality

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Authors: Eunsup Daniel Shim, Jooh Lee

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The US financial crisis of 2008 and subsequent Global Financial Crisis were considered by many economists the worst financial crisis since the Great Depression of the 1930s. As a results, Dodd-Frank Act has passed and aims '(1) to promote the financial stability of the United States by improving accountability and transparency in the financial system, to end "too big to fail", (2) to protect the American taxpayer by ending bailouts, (3) to protect consumers from abusive financial services practices, and for other purposes.' The enactment of Dodd-Frank Act, in part, intended to significantly influence accountability on executive compensation especially for the financial institutions. This paper empirically investigates the changes in Financial CEOs’ compensation since the Financial Crisis of 2008. Our findings show that in the post- Financial Crisis period financial leverage is significant factor influencing the CEOs’ total compensation. In addition market based performance such as stock price and market-to-book ratio shows significant positive relationship with CEO compensation. This change can be interpreted an attempt to reduce opportunistic behavior of top executives after the financial crisis and the enactment of the Dodd-Frank Act.

Keywords: financial CEO compensation, firm performance, financial crisis of 2008, dodd-frank act

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Authors: Lobna Hafez, Eman Elakkad

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Sustainability is no longer a choice for firms. To achieve sustainable supply chain, all three dimensions of sustainability should be considered. Unlike the economic and environmental aspects, social sustainability has been rarely given attention. The problem surrounding social sustainability and employees’ welfare in Egypt is complex and remains unsolved. The aim of this study is to qualitatively assess the current level of application of social sustainability in the retailing sector in Egypt through using the social sustainability indicators identified in the literature. The purpose of this investigation is to gain knowledge about the complexity of the system involved. A case study is conducted on one of the largest retailers in Egypt. Data were collected through semi-structured interviews with managers and employees to determine the level of application and identify the major obstacles affecting the social sustainability in the retailing context. The work developed gives insights about the details and complexities of the application of social sustainability in developing countries, from the retailing perspective. The outcomes of this study will help managers to understand the enablers of social sustainability and will direct them to methods of sound implementation.

Keywords: developing countries, Egyptian retailing sector, sustainability, social sustainability

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Authors: Zahid Ahmad, Samia Yousaf

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The main purpose of this study is to evaluate and assess the financial position, operating performance, and recent outlook of the companies. This study investigates the impact of capital structure, dividend policy and sustainability on the value of firms of textile spinning sector of Pakistan which is listed on Pakistan stock exchange. The panel data technique has been applied to this group of textile sector which is textile spinning. This study covers the last ten years of time period. All the data related to the variables have been collected from the annual reports and financial statements of the textile sector firms. There are differently related determinants to measure the capital structure which are fixed assets turnover ratio, debt ratio, equity ratio, debt to equity ratio, assets tangibility, and shareholder’s equity. Dividend policy is being measured by two determinants which are earning per share (EPS) and dividend payout ratio. Sustainability is being measured by three suitable factors which are sales growth, gross profit margin ratio and firm size. These are three independent variables and their determinants of this study. Value of firm is measured through the return on asset (ROA). Capital structure is at the top of the list among all the three variables. According to the results of this research work, somewhere all the three variables generates positive and significant effect on the firm’s performance and its growth.

Keywords: capital structure, dividend policy, panel data, sustainability

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Authors: Sareh Rajabi, Taha Anjamrooz, Salwa Bheiry

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The continuous increase in the world population, resource shortage and the warning of climate change cause various environmental and social issues to the world. Thus, sustainability concept is much needed nowadays. Organizations are progressively falling under strong worldwide pressure to integrate sustainability practices into their project decision-making development. Construction projects in the industry are amongst the most significant, since it is one of the biggest divisions and of main significance for the national economy and hence has a massive effect on the environment and society. So, it is important to discover approaches to incorporate sustainability into the management of those projects. This study presents a combined sustainability index of projects with sustainable transportation which has been formed as per a comprehensive literature review and survey study. Transportation systems enable the movement of goods and services worldwide, and it is leading to economic growth and creating jobs while creating negative impacts on the environment and society. This research is study to quantify the sustainability indicators, through 1) identifying the importance of sustainable transportation indicators that are based on the sustainable practices used for the construction projects and 2) measure the effectiveness of practices through these indicators on the three sustainable pillars. A total 26 sustainability indicators have been selected and grouped under each related sustainability pillars. A survey was used to collect the opinion about the sustainability indicators by a scoring system. A combined sustainability index considering three sustainable pillars can be helpful in evaluating the transportation sustainable practices of a project and making decisions regarding project selection. In addition to focus on the issue of financial resource allocation in a project selection, the decision-maker could take into account the sustainability as an important key in addition to the project’s return and risk. The purpose of this study is to measure the performance of transportation sustainability which allow companies to assess multiple projects selection. This is useful to decision makers to rank and focus more on future sustainable projects.

Keywords: sustainable transportation, transportation performances, sustainable indicators, sustainable construction practice, sustainability

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Authors: Rahma Amri, Narjès Bellamine Ben Saoud

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Sustainable development or sustainability is one of the most urgent issues in actual debate in almost domains. Particularly the significant way the software pervades our live should make it in the center of sustainability concerns. The social aspects of sustainability haven’t been well studied in the context of software systems and still immature research field that needs more interest among researchers’ community. This paper presents a Goal-Question-Metric based approach to assess social sustainability of software systems. The approach is based on a generic social sustainability model taken from Social sciences.

Keywords: software assessment approach, social sustainability, goal-question-metric paradigm, software project metrics

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Authors: Mary Panko, Rashika Sharma

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Sustainability often appears to be an unfamiliar concept to many international students that enrol in a New Zealand technological degree. Lecturers’ experiences with classroom interactions and evaluation of assessments indicate that studying the concept enlightens and enhances international students understanding of sustainability. However, in most cases, even after studying sustainability in their degree programme, students are not given an opportunity to practice and apply this concept into their professions in their home countries. Therefore, using a qualitative approach, the academics conducted research to determine the change in international students understanding of sustainability before and after their enrolment in an Applied Technology degree. The research also aimed to evaluate if international students viewed sustainability of relevance to their professions and whether the students felt that they will be provided with an opportunity to apply their knowledge about sustainability in the industry. The findings of the research are presented in this paper.

Keywords: education for sustainability, international students, vocational education

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Authors: Cansu Tari, Ute Poerschke

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Sustainable campus design and planning in Higher Education requires an entire action plan and coordination of physical, educational, and social systems. Many institutions in the world are defining their sustainable development path and some are following existing green building and sustainable campus rating/ranking systems, guidelines. In the context of higher education, Turkish universities have limited academic, social and financial support related to sustainable living, building, and campus studies. While some research has been conducted in the last 60 years by farsighted academics, most of these works are based on individuals’ or small organizations’ own interests and efforts, and they are not known enough by the population of universities and possible prospective investors. Regarding the recent fast and uncontrolled growth in the Turkish Higher Education environment, setting a campus sustainability indicator set is a necessity for sustainable development of universities. The main objective of this paper is to specify the applicable sustainability indicators in the national context of Turkey, and propose a model guideline for sustainable Turkish university campuses. The analysis of Turkish legislation on environmental issues, special conditions of Turkish Higher Education system, and Turkey’s environmental risks and challenges set the backbone of the study and distinguish the set of indicators from generalized guidelines. Finally, the paper outlines some concrete suggestions for Turkish Universities to integrate sustainability efforts in their regional context. It will be useful for campus sustainability managers and planners, interested in developing action plans in their national and regional scope.

Keywords: campus sustainability, sustainability indicators, Turkish universities, national campus sustainability action plan

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Authors: Zaiton Osman, Phang Ing, Azaze Azizi Abd Adis, Izyanti Awg Razli, Mohd Rizwan Abd Majid, Rosle Mohidin

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This study is conducted to investigate the level of financial literacy among students taking Financial Management and Banking in Universiti Malaysia Sabah, Malaysia. Students are asked to answer basic financial literacy questions in their first class before study commence and the similar questions were given in their final week of study (after 14 weeks of study duration). The comparison on their level of financial literacy will be examined. This study is expected to yields the following findings; firstly, comparison of the level of financial literacy 'before and after' courses in finance being introduced can be revealed. Secondly, it will provide suggestion on improving the standard of teaching and learning in financial management and banking courses and lastly it will help in identifying financial courses that are important in improving the level of financial literacy among students in Malaysia.

Keywords: financial literacy, university students, personal financial planning, business and management engineering

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Authors: Li Yong

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Using the data of 135 financial institutions in China from 2018 to 2022, this paper deeply analyzes the underlying theoretical mechanism of artificial intelligence (AI) technology promoting financial development and examines the impact of AI technology on the digital transformation performance of financial enterprises. It is found that the level of AI technology has a significant positive impact on the development of finance. Compared with the impact on the expansion of financial scale, AI technology plays a greater role in improving the performance of financial institutions, reflecting the trend characteristics of the current AI technology to promote the evolution of financial structure. By investigating the intermediary transmission effects, we found that AI technology plays a positive role in promoting the performance of financial institutions by reducing operating costs and improving customer satisfaction, but its function in innovating financial products and mitigating financial risks is relatively limited. In addition, the promotion of AI technology in financial development has significant heterogeneity in terms of the type, scale, and attributes of financial institutions.

Keywords: artificial intelligence technology, financial development, China, heterogeneity

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Authors: Olajumoke Elizabeth Olawale-Olakunle

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This research examined effective event development on the sustainability of tourism in Lagos State. The objectives were to ascertain the implication of effective event development on cost, environmental innovations, opportunity for participants, job creation and working conditions. Also, there was a focus on employee participation and the sustainability of the tourism industry. However, the primary data were obtained via the use of structured questionnaire administered to the selected respondents. Simple random sampling was used to select the respondents, using the Yaro Yame formula. The formulated hypothesis was tested using Analysis of Variance (ANOVA) and Non-parametric chi-square. From the tests conducted, the results showed that effective event development has helped to reduce costs, bring about environmental innovations, offer unique opportunity among event participants, create jobs and promote better working conditions, and the influence it has on employee participation affects the sustainability of the tourism industry. Based on these results, it was concluded that effective event development helps to achieve sustainability in the tourism industry by reducing costs, ensuring efficient use of tourism resources and offers a unique opportunity among event participants. It was, therefore, recommended that events should be developed in such a way that it can help to reduce cost and help leverage the financial burdens of participants and stakeholders, thereby, achieving sustainability in the tourism industry.

Keywords: tourism, hospitality, industry, development

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Authors: Chunfang Zhou

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The growing issues of sustainability have increased the discussions on how to foster “green engineers” from diverse perspectives in both contexts of education and organizations. As creativity has been considered as the first stage of innovation process that can also be regarded as a path to sustainability, this paper will particularly propose creativity as a scientific literacy meaning a collection of awareness, ability, and skills about sustainability. From this sense, creativity should be an element in IT engineering education and organizational learning programmes, since IT engineers are one group of key actors in designing, researching and developing social media products that are most important channels of improving public awareness of sustainability. This further leads this paper to discuss by which pedagogical strategies and by which training methods in organizations, creativity and sustainability can be integrated into IT engineering education and IT enterprise innovation process in order to meeting the needs of ‘creative engineers’ in the society changes towards sustainability. Accordingly, this paper contributes to future work on the links between creativity, innovation, sustainability, and IT engineering development both theoretically and practically.

Keywords: creativity, innovation, IT engineers, sustainability

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Authors: Zohreh Soltani, Seyedmohammadhossein Hosseinian

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Reduction of energy consumption in built infrastructure, through the installation of energy-efficient technologies, is a major approach to achieving sustainability. In practice, the viability of energy efficiency projects strongly depends on the cost reimbursement and profitability. These projects are subject to failure if the actual cost savings do not reimburse the project cost in a timely manner. In such cases, refinancing could be a solution to benefit from the long-term returns of the project if implemented wisely. However, very little is still known about the effect of refinancing options on financial performance of energy efficiency projects. To fill this gap, the present study investigates the financial behavior of energy efficiency projects with focus on refinancing options, such as Leveraged Loans. A System Dynamics (SD) model is introduced, and the model application is presented using an actual case-study data. The case study results indicate that while high-interest start-ups make using Leveraged Loan inevitable, refinancing can rescue the project and bring about profitability. This paper also presents some managerial implications of refinancing energy efficiency projects based on the case-study analysis. Results of this study help implementing financially viable energy efficiency projects, so the community could benefit from their environmental advantages widely.

Keywords: energy efficiency projects, leveraged loan, refinancing, sustainability

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