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Contemporary Issues in Applied Economics and Sustainability
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Contemporary Issues in Applied Economics and Sustainability

A special issue of Sustainability (ISSN 2071-1050). This special issue belongs to the section "Economic and Business Aspects of Sustainability".

Deadline for manuscript submissions: closed (31 January 2023) | Viewed by 109417

Special Issue Editors

Dr. Tomasz Kijek

E-Mail Website
Guest Editor
Department of Microeconomics and Applied Economics, Faculty of Economics, Maria Curie-Sklodowska University, 20-031 Lublin, Poland
Interests: innovation; R&D; patents; productivity; efficiency; economics of knowledge; technological convergence
Dr. Aleksandra Kowalska

E-Mail Website
Guest Editor
Department of Microeconomics and Applied Economics, Maria Curie-Skłodowska University, 20-031 Lublin, Poland
Interests: sustainable food systems; food security; environment and resource economics
Dr. Arkadiusz Kijek

E-Mail Website
Guest Editor
Department of Statistics and Econometrics, Maria Curie-Skłodowska University, 20-031 Lublin, Poland
Interests: econometrics; statistics; data analysis; business cycles
Dr. Anna Matras-Bolibok

E-Mail Website
Guest Editor
Department of Microeconomics and Applied Economics, Maria Curie-Skłodowska University, 20-031 Lublin, Poland
Interests: applied regional economics; innovation; innovation policy; smart development strategy design

Special Issue Information

Dear Colleagues,

There has been a permanent quest to reconcile economic growth with social and environmental sustainability. At a time of significant economic change and major shifts in the relative economic power around the world resulting, inter alia, from the current lockdown, there is a need for a change in sustainable governance. The core question at the heart of sustainability is how to allocate the finite resources of the earth to meet the aspirations and expectations of present and future humanity. The application of economic analysis seems to play a crucial role in meeting the sustainable development challenges since the key issue of economics as a scientific discipline is effective and smart allocation of scarce resources. Applied economics helps to bring economic theory nearer to the problems of making sustainable decisions by both public and private entities and to reorient the economy toward smart development trajectory.

The aim of this Special Issue is to present the latest empirical studies, theoretical ideas, and methodological developments based on research conducted at the interface between economics, finance, management, and quality studies.

We also encourage the submission of interdisciplinary papers from the following areas: social sciences, natural sciences, and agricultural sciences. A multidimensional approach combining theory and applications will add value for scholars, practitioners, and policy makers representing various disciplines of science and sectors of the economy.

The Special Issue will include, but not be limited to, the following topics:
1.    Economic determinants of sustainable development: the four levers of change—governance, economy and finance, individual and collective action, and science and technology—should be coherently deployed and combined to contribute to sustainable growth at regional and national level.
2.    Measuring and modeling sustainable decisions and outcomes—without reliable and robust measurements based on qualitative and quantitative approach, it is impossible to judge whether sustainable decisions have been made.
3.    Applied, environmental and resource economics—it is no exaggeration to say that fundamental changes in the way societies exploit natural resources and produce and consume food are indispensable for achieving global sustainable development.

Dr. Tomasz Kijek
Dr. Aleksandra Kowalska
Dr. Arkadiusz Kijek
Dr. Anna Matras-Bolibok
Guest Editors

Manuscript Submission Information

Manuscripts should be submitted online at www.mdpi.com by registering and logging in to this website. Once you are registered, click here to go to the submission form. Manuscripts can be submitted until the deadline. All submissions that pass pre-check are peer-reviewed. Accepted papers will be published continuously in the journal (as soon as accepted) and will be listed together on the special issue website. Research articles, review articles as well as short communications are invited. For planned papers, a title and short abstract (about 100 words) can be sent to the Editorial Office for announcement on this website.

Submitted manuscripts should not have been published previously, nor be under consideration for publication elsewhere (except conference proceedings papers). All manuscripts are thoroughly refereed through a single-blind peer-review process. A guide for authors and other relevant information for submission of manuscripts is available on the Instructions for Authors page. Sustainability is an international peer-reviewed open access semimonthly journal published by MDPI.

Please visit the Instructions for Authors page before submitting a manuscript. The Article Processing Charge (APC) for publication in this open access journal is 2400 CHF (Swiss Francs). Submitted papers should be well formatted and use good English. Authors may use MDPI's English editing service prior to publication or during author revisions.

Keywords

  • sustainable governance
  • fiscal policy and public finance
  • sustainable private finance
  • technical change and innovations
  • smart cities and regions
  • regional development
  • convergence process
  • corporate social responsibility
  • green marketing
  • consumer attitudes, intention and behaviour
  • quantitative and qualitative methods
  • econometric and optimization models
  • solution-oriented research
  • sustainable agri-food systems
  • sustainable supply chain management
  • food security, safety, and sustainability
  • reducing food loss and waste
  • sustainable energy systems
  • resource and environmental management

Published Papers (36 papers)

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24 pages, 570 KiB  
Article
Information Technology Governance and Corporate Boards’ Relationship with Companies’ Performance and Earnings Management: A Longitudinal Approach
by Harman Preet Singh and Hilal Nafil Alhulail
Sustainability 2023, 15(8), 6492; https://0-doi-org.brum.beds.ac.uk/10.3390/su15086492 - 11 Apr 2023
Cited by 4 | Viewed by 2022
Abstract
In accordance with the segregation of oversight from management decision making, the board-level information technology governance is accountable for supervising managerial IT activities. This research empirically analyzes the impact of board-level IT governance on the performance and earnings management practices of Saudi Arabian [...] Read more.
In accordance with the segregation of oversight from management decision making, the board-level information technology governance is accountable for supervising managerial IT activities. This research empirically analyzes the impact of board-level IT governance on the performance and earnings management practices of Saudi Arabian stock exchange (Tadawul)-listed companies between 2008 and 2020. The study sample includes cross-sectional time-series data from 154 firms with 18,018 firm-year observations. This study used regression analysis and other econometric models to examine probable endogeneities. The findings show that only the return on assets’ operational performance is positively and significantly related to board-level IT governance among the three performance metrics (return on assets, return on equity, and Tobin’s Q). This indicates that a higher proportion of members with IT experience and the presence of a board-level IT professional as chief information officer/chief technology officer and an IT committee positively impact operational performance. Finally, board-level IT governance competence and other governance attributes do not deter earnings management practices. Therefore, countries like Saudi Arabia should enhance their corporate governance environment considering the increasing significance of IT governance (control, service, and monitoring). There is also a need to review provisions of the Saudi Arabia Corporate Governance Regulations, especially for board composition, the appointment of independent and IT-literate directors, and penalties for non-compliance with regulations. Full article
(This article belongs to the Special Issue Contemporary Issues in Applied Economics and Sustainability)
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22 pages, 349 KiB  
Article
Impact of Intelligent Manufacturing on Total-Factor Energy Efficiency: Mechanism and Improvement Path
by Pengfei Zhou, Mengyu Han and Yang Shen
Sustainability 2023, 15(5), 3944; https://0-doi-org.brum.beds.ac.uk/10.3390/su15053944 - 21 Feb 2023
Cited by 4 | Viewed by 1757
Abstract
Intelligent technology is the core driving force of the fourth industrial revolution, which has an important impact on high-quality economic development. In this paper, the panel data of 30 provinces from 2006 to 2019 were selected to construct a regression model to conduct [...] Read more.
Intelligent technology is the core driving force of the fourth industrial revolution, which has an important impact on high-quality economic development. In this paper, the panel data of 30 provinces from 2006 to 2019 were selected to construct a regression model to conduct an empirical analysis on the role and mechanism of intelligent manufacturing in improving total factor energy efficiency. The research results show that first, the productivity effect, scale effect and resource allocation effect of intelligent manufacturing can significantly improve the energy efficiency of the total factor, and the conclusion is still established after endogenous treatment and robustness testing. Second, the results of the action mechanism show that labor price distortion and carbon emission trading policy are important mechanisms for intelligent manufacturing to improve total-factor energy efficiency. Specifically, the corrected labor price can enhance the motivation of enterprise research and development and innovation and solve the dilemma of the low-end industrial structure, thus improving the efficiency of total-factor energy efficiency. The carbon emission trading policy strengthens the willingness of enterprises to improve the process, eliminate backward equipment and increase the research and development of green technology, and it has a positive regulatory role in the process of improving total-factor energy efficiency in intelligent manufacturing. Full article
(This article belongs to the Special Issue Contemporary Issues in Applied Economics and Sustainability)
21 pages, 2999 KiB  
Article
A Measurement of Social Cohesion in Poland’s NUTS2 Regions in the Period 2010–2019 by Applying Dynamic Relative Taxonomy to Interval-Valued Data
by Marek Walesiak and Grażyna Dehnel
Sustainability 2023, 15(4), 3752; https://0-doi-org.brum.beds.ac.uk/10.3390/su15043752 - 17 Feb 2023
Cited by 1 | Viewed by 952
Abstract
Composite indicators play an important role in the analysis of socio-economic phenomena. A number of different approaches to constructing composite indicators have been proposed in the literature. Depending on the degree of compensation, they can be divided into compensatory, partially compensatory, and non-compensatory. [...] Read more.
Composite indicators play an important role in the analysis of socio-economic phenomena. A number of different approaches to constructing composite indicators have been proposed in the literature. Depending on the degree of compensation, they can be divided into compensatory, partially compensatory, and non-compensatory. The following article focuses on the method of relative taxonomy and its dynamic modification. While this method is typically applied to metric data, the authors propose using the dynamic approach for interval-valued data, which describes objects of interest more precisely. Metric data are of an atomic nature; i.e., an observation of each variable is expressed as one real number. In contrast, each observation of an interval-valued variable is expressed as an interval. By making use of interval-valued data, it is possible to assess objects not only at the regional level but also at a lower level of territorial aggregation, taking into account spatial variation across districts that make up each region. The study described in the article was conducted by applying relative taxonomy in its dynamic approach to interval-valued data in order to measure the level of social cohesion in Poland’s NUTS2 regions during the period 2010–2019. The target dataset was obtained by aggregating numeric data about social cohesion in districts (LAU1) at the level of regions. The lower and upper limit of the interval for each region was based on district-level data and corresponded to the 2nd and 8th decile, respectively (60% of observations), which helped to mitigate the effect of outliers. By applying dynamic relative taxonomy to interval-valued data, it was possible to graphically represent changes in the level of social cohesion that took place across 17 Poland’s NUTS2 regions between 2010 and 2019. It was found that during the reference period, the level of social cohesion in the regions systematically improved. Despite the observed variation, the distance between the regions consistently decreased over time. The level of social cohesion was found to be higher in regions that had received more EU funding to support regional development. Full article
(This article belongs to the Special Issue Contemporary Issues in Applied Economics and Sustainability)
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23 pages, 2304 KiB  
Article
Influence of Enterprise’s Factor Inputs and Co-Opetition Relationships to Its Innovation Output
by Lei Shi, Shan Gao, Airong Xu, Kexin Zheng, Yuanpeng Ji, Xianlei Dong and Lizhi Xing
Sustainability 2023, 15(1), 838; https://0-doi-org.brum.beds.ac.uk/10.3390/su15010838 - 03 Jan 2023
Cited by 5 | Viewed by 1333
Abstract
In the context of economic globalization, innovation has become a major drive for the sustainable development of enterprises, which emphasizes the importance of studying the influencing factors of enterprise innovation output. The purpose of this study is to clarify the influence mechanism of [...] Read more.
In the context of economic globalization, innovation has become a major drive for the sustainable development of enterprises, which emphasizes the importance of studying the influencing factors of enterprise innovation output. The purpose of this study is to clarify the influence mechanism of different indicators on enterprise innovation output, and then provide relevant suggestions for improving enterprise innovation ability. This paper takes 562 enterprises in Chaoyang Sub-park and Fengtai Sub-park of Zhongguancun in Beijing within the time span between 2015 and 2016 as the research objects, and constructs a comprehensive indicator system of influencing factors for enterprise innovation output from the perspective of enterprise co-opetition relationship, factor input and environmental factors. A quantitative model of innovation output and influencing factors was built and then solved, via spike-and-slab sparse function and stepwise regression, aiming at analyzing the influence of different indicators on enterprise innovation output. In addition, this paper also classifies enterprises according to their innovation level and explores the influence of indicators on different types of enterprises. The innovation of this study lies in the modeling of competition and cooperation between enterprises and the establishment of a relatively comprehensive indicator system of influencing factors for enterprise innovation output. The results show that the degree of technological collaboration between enterprises, the level of financing and the degree of capital and labor input in innovation activities have significant positive effects on enterprise innovation output. On the contrary, product and service competition, as well as capital competition, tends to have a negative impact, which urges enterprises to pay heed to the intensity of competition faced by products and services as well as the diversity of financing sources and investment targets to reduce the negative impacts. In addition, enterprises with different levels of innovation should take customized measures in terms of factor input and co-opetition relationships, in that some indicators such as network structure indicators negatively influence the innovation output of enterprises with lower levels of innovation, but has positive impacts on those with higher levels of innovation. Full article
(This article belongs to the Special Issue Contemporary Issues in Applied Economics and Sustainability)
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25 pages, 856 KiB  
Article
A Novel Categorization of Key Predictive Factors Impacting Hotels’ Online Ratings: A Case of Makkah
by Harman Preet Singh and Ibrahim Abdullah Alhamad
Sustainability 2022, 14(24), 16588; https://0-doi-org.brum.beds.ac.uk/10.3390/su142416588 - 11 Dec 2022
Cited by 4 | Viewed by 1175
Abstract
In the present Internet age, customers have turned to online booking websites to meet their demand for quality hotel services and convey their experiences. As hotels can survive and succeed by satisfying consumers and obtaining high online ratings, this research predicts the key [...] Read more.
In the present Internet age, customers have turned to online booking websites to meet their demand for quality hotel services and convey their experiences. As hotels can survive and succeed by satisfying consumers and obtaining high online ratings, this research predicts the key factors impacting these ratings. The study analyzes online consumer review data gleaned from the popular Booking.com website for hotel ratings near the key religious heritage site in Makkah, Saudi Arabia. The research applies the four-factor theory due to its importance in studying consumer satisfaction and prior non-application to the hospitality and tourism industry. This theory extended the two-factor theory to report four distinct sets of factors: satisfiers, dissatisfiers, criticals, and neutrals. Accordingly, the present research presents a novel categorization of key predictive factors and enriches the literature, which categorized factors as either satisfiers or dissatisfiers. Consequently, facilities and comfort are critical factors, while cleanliness, staff, and location are satisfiers; the value for the money spent is dissatisfier; the availability of breakfast and restaurants are neutral factors. The hospitality industry, specifically the hotel industry, can focus on characteristics of the four distinct sets of factors; various nations can leverage the findings to boost their hospitality and tourism sectors. Full article
(This article belongs to the Special Issue Contemporary Issues in Applied Economics and Sustainability)
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27 pages, 600 KiB  
Article
The Relationship between Corporate Social Responsibility, Global Investment, and Equity Incentives
by Tong Sheng, Bingquan Fang, Xiaoqian Lu, Xingheng Shi, Chaohai Shen and Xiaolan Zhou
Sustainability 2022, 14(23), 16208; https://0-doi-org.brum.beds.ac.uk/10.3390/su142316208 - 05 Dec 2022
Cited by 2 | Viewed by 2935
Abstract
Listed companies have long faced difficulties in both their global investment strategies and corporate governance improvement, while they are supposed to pay more attention to their sustainable development performance. The complex linkages between these three make the choice of corporate strategy a challenge [...] Read more.
Listed companies have long faced difficulties in both their global investment strategies and corporate governance improvement, while they are supposed to pay more attention to their sustainable development performance. The complex linkages between these three make the choice of corporate strategy a challenge for public companies. Given the economic downturn in the post-pandemic era, the challenges for listed companies are likely to be even more acute. How companies weigh the relationships between these three and how to ensure the implementation of a global investment strategy that effectively meets sustainable development are pressing challenges. Using a sample of Chinese listed companies during 2010–2018, this paper empirically examines the relationship between corporate sustainable development performance, global investment reflected by outward foreign direct investment (OFDI), and corporate governance reflected by equity incentives with econometric tools. We show the positive effects of OFDI on corporate sustainable development performance and discover the crowding-out effect of equity incentives, which challenges the view of equity motivation. These findings are robust. We further explore the heterogeneities in terms of industries and regions. We finally provide some useful implications on how to coordinate the global investment and internal equity incentives to improve corporate sustainable development performance. Full article
(This article belongs to the Special Issue Contemporary Issues in Applied Economics and Sustainability)
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23 pages, 2796 KiB  
Article
Sustainable Gardening for Economic Inclusion, Poverty Reduction, and Culture Preservation
by Salvador Rivas-Aceves and Sarah Schmidt
Sustainability 2022, 14(23), 15743; https://0-doi-org.brum.beds.ac.uk/10.3390/su142315743 - 26 Nov 2022
Cited by 2 | Viewed by 2460
Abstract
Sustainable gardening activities can be the basis to reduce poverty while preserving culture. By generating economic inclusion, gardening can provide the entry point into society for vulnerable communities. Community stakeholders in Mexico City and Northeast Ohio were studied to analyze whether sustainable gardening [...] Read more.
Sustainable gardening activities can be the basis to reduce poverty while preserving culture. By generating economic inclusion, gardening can provide the entry point into society for vulnerable communities. Community stakeholders in Mexico City and Northeast Ohio were studied to analyze whether sustainable gardening can generate economic inclusion while preserving culture. Through in-depth interviews, the relationship between these three components is analyzed. In particular, topics such as gardening experience, family traditions, institutional support, economic barriers, use of technology, cropping methods, and social integration were explored. From conception to implementation and analysis, the goal of agency building reinforced social sustainability. In addition to interpretive qualitative interviews, experiential research was conducted through a “working-with” model where the communities in reference contributed intellectual resources to the project-based research design. Primary results fall into three primary categories including gardening methods, cultural preservation, and economic factors. In each analyzed case, implications of cultural preservation emerge as a foundational motivation to maintain the particular agricultural practice. Despite significant economic barriers, including high poverty rates, the cases in reference nonetheless maintain traditions, thus highlighting the importance of culture. Negative economic implications suggest an absence of institutional support, which contribute to issues of poverty and low quality of life. Social implications indicate a level of marginalization that contributes to the aforementioned economic and institutional barriers. Full article
(This article belongs to the Special Issue Contemporary Issues in Applied Economics and Sustainability)
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16 pages, 720 KiB  
Article
Explaining Farmers’ Income via Market Orientation and Participation: Evidence from KwaZulu-Natal (South Africa)
by Eliaza Mkuna and Edilegnaw Wale
Sustainability 2022, 14(21), 14197; https://0-doi-org.brum.beds.ac.uk/10.3390/su142114197 - 31 Oct 2022
Cited by 4 | Viewed by 1782
Abstract
In many sub-Saharan African nations, commercializing smallholder agriculture has recently been seen as a strategy for attaining equitable growth and eliminating poverty in a sustainable manner. Despite the distinction made between market participation and market orientation, their respective impacts on farm income have [...] Read more.
In many sub-Saharan African nations, commercializing smallholder agriculture has recently been seen as a strategy for attaining equitable growth and eliminating poverty in a sustainable manner. Despite the distinction made between market participation and market orientation, their respective impacts on farm income have not been given enough attention in the literature. In this paper, their respective determinants are analysed and each of them is linked to smallholder farmers’ income. The survey was conducted in and around four irrigation schemes in KwaZulu-Natal. Using a sample of 332 farmers, the study estimated the output participation index/market orientation index and employed the two-limit Tobit and OLS regression models. The findings show that socioeconomic, institutional and production factors influence market orientation and participation differently. In addition, market participation is more important in explaining farmers’ income compared to market orientation. Moreover, farmers had a higher rate of market participation index (83%) while their market orientation index was very low (38%). Market orientation is, therefore, not a pre-condition for market participation. In smallholder agriculture, market participation is a function, mainly, of marketed surplus. These realities are valid for smallholder agriculture and in sharp contrast with commercial agriculture. Engaging smallholder farmers more in market participation rather than market orientation would be a better strategy to improve their access to markets and eventually enhance their income. Market orientation will then become the unintended outcome of continuous engagement of farmers with the market. Full article
(This article belongs to the Special Issue Contemporary Issues in Applied Economics and Sustainability)
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25 pages, 441 KiB  
Article
Impact of Sustainable Development Goals on Economic Growth in Saudi Arabia: Role of Education and Training
by Harman Preet Singh, Ajay Singh, Fakhre Alam and Vikas Agrawal
Sustainability 2022, 14(21), 14119; https://0-doi-org.brum.beds.ac.uk/10.3390/su142114119 - 29 Oct 2022
Cited by 26 | Viewed by 10283
Abstract
Sustainable development goals (SDGs) are intended to be attained as a balanced whole. However, significant interactions (the synergies and trade-offs) between the SDGs have caused the need, especially in developing economies, to identify and pursue them in line with their particular developmental needs. [...] Read more.
Sustainable development goals (SDGs) are intended to be attained as a balanced whole. However, significant interactions (the synergies and trade-offs) between the SDGs have caused the need, especially in developing economies, to identify and pursue them in line with their particular developmental needs. The research intends to empirically investigate the relationship between selected UN SDGs and GDP growth rate as a proxy for economic well-being in Saudi Arabia. We also investigate the role of education and training in achieving SDGs in accordance with the Saudi Vision 2030, which places emphasis on the knowledge economy. This research employs multiple regression analysis to explore the relationship between the SDG variables and the GDP. The results show that education and training, gender equity/women’s empowerment, greenhouse gas emissions, and decent employment are positively and significantly related to the GDP growth, whereas poverty, hunger, and health appear to be negatively related. The research indicates that education and training can promote economic, socioeconomic, and health goals without compromising environmental goals. Consequently, the Saudi government should invest more in education and training to maximize synergies and minimize tradeoffs between the SDGs. This will help to promote sustainable employment generation, build human capital, improve socioeconomic empowerment through technology, and boost economic growth. Full article
(This article belongs to the Special Issue Contemporary Issues in Applied Economics and Sustainability)
15 pages, 282 KiB  
Article
Do Rating Change Announcements Transfer Effective Information? Test on the Effectiveness and Sustainability of Credit Rating in China
by Ke Sun
Sustainability 2022, 14(21), 14086; https://0-doi-org.brum.beds.ac.uk/10.3390/su142114086 - 28 Oct 2022
Cited by 1 | Viewed by 1106
Abstract
China is commonly viewed as a country with weak legal institutions and disclosure regulations. The validity and effectiveness of credit rating in China are controversial topics. Bond ratings provide information about the quality and marketability of bond issues. This paper studies the effects [...] Read more.
China is commonly viewed as a country with weak legal institutions and disclosure regulations. The validity and effectiveness of credit rating in China are controversial topics. Bond ratings provide information about the quality and marketability of bond issues. This paper studies the effects of rating change announcements on the price of fixed-income enterprise bonds to test the effectiveness and sustainability of credit rating in China. The results show that upgrade and downgrade announcements have an asymmetric effect on bond prices. Downgrade announcements have transferred new information to the market, resulting in statistically significant negative effects, yet upgrade announcements do not have statistically obvious effects on bond prices. That the average cumulative abnormal returns two days before and on the day of the announcement are statistically insignificant implies that the rating information might not be leaked out before the announcement. The results indicate that the pricing function of credit rating has taken effect, and the effectiveness of the market has been improved over the years. The strengthening of regulations and supervision of the Chinese government toward the credit rating industry may help reinforce the sustainability of the industry and the bond market. The cross-sectional results suggest the market responses are more intense to unpredicted changes of ratings, and investors and portfolio managers should pay more attention to the bonds that have been downgraded for several levels from initial ratings. Full article
(This article belongs to the Special Issue Contemporary Issues in Applied Economics and Sustainability)
17 pages, 1062 KiB  
Article
How Does Young Consumers’ Greenwashing Perception Impact Their Green Purchase Intention in the Fast Fashion Industry? An Analysis from the Perspective of Perceived Risk Theory
by Xiaoqian Lu, Tong Sheng, Xiaolan Zhou, Chaohai Shen and Bingquan Fang
Sustainability 2022, 14(20), 13473; https://0-doi-org.brum.beds.ac.uk/10.3390/su142013473 - 19 Oct 2022
Cited by 11 | Viewed by 17918
Abstract
The fast fashion industry is criticized for its unsustainable development. With the rise of the green economy and the awakening of consumers’ awareness of sustainable consumption, more and more companies realize the significance of green marketing in improving brand performance. However, it is [...] Read more.
The fast fashion industry is criticized for its unsustainable development. With the rise of the green economy and the awakening of consumers’ awareness of sustainable consumption, more and more companies realize the significance of green marketing in improving brand performance. However, it is undeniable that many fast fashion companies tend to take advantage of information asymmetry and cover up the unsustainable part of their business activities through fake green marketing campaigns to gain more potential consumers. There is a limited number of green marketing studies investigating consumers’ perception of greenwashing, while it is naturally important to explore the demand side responses to greenwashing in different industries. Therefore, this paper examines whether and how consumers’ perception of greenwashing in the fast fashion industry impacts their green purchase intention. The study explores the mediating role of perceived risk and the moderating role of consumers’ impulsive buying. In this paper, 433 valid questionnaires are collected from mainland China, and the Partial Least Square-Structural Equation (PLS-SEM) is used to test the hypotheses. We draw the following conclusions: (1) consumers’ perception of greenwashing in the fast fashion industry has a direct negative effect on their green purchase intention; (2) greenwashing perception has an indirect negative effect through consumers’ risk perception, including financial perceived risk and green perceived risk; (3) consumers’ impulsive buying in the fast fashion industry reinforces the positive effect of greenwashing on their financial risk perceptions as a moderating variable. The conclusion of this paper has implications for the sustainable development of China and other emerging economies, which highlights the importance of pursuing information symmetry in green marketing to reduce consumers’ perceived risk and encourages companies to make substantial, sustainable development initiatives. Full article
(This article belongs to the Special Issue Contemporary Issues in Applied Economics and Sustainability)
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28 pages, 786 KiB  
Article
Firm-Level Attributes, Industry-Specific Factors, Stakeholder Pressure, and Country-Level Attributes: Global Evidence of What Inspires Corporate Sustainability Practices and Performance
by Nusirat Ojuolape Gold, Fauziah Md. Taib and Yaxin Ma
Sustainability 2022, 14(20), 13222; https://0-doi-org.brum.beds.ac.uk/10.3390/su142013222 - 14 Oct 2022
Cited by 6 | Viewed by 2159
Abstract
This study examined differing attributes that motivate corporate sustainability practices and performance (CSP&P) in the global economy. Utilizing publicly disclosed information from the Carbon Disclosure Project (CDP), data were gathered for publicly listed companies operating in high carbon-intensive and less carbon-intensive sectors on [...] Read more.
This study examined differing attributes that motivate corporate sustainability practices and performance (CSP&P) in the global economy. Utilizing publicly disclosed information from the Carbon Disclosure Project (CDP), data were gathered for publicly listed companies operating in high carbon-intensive and less carbon-intensive sectors on a global scale, and a panel ordered probit regression model analysis was conducted to arrive at the findings. The rigorous reliability and validity of the scales were ensured. Firm-level attributes, industry-specific factors, stakeholder pressure, and country-level attributes were the variables examined for each context. The findings reveal that the firm-level attributes showed that board size, board independence, sustainability committee, and firm size were linked to positive motivation, while firm age was found to negatively influence the response level. The study discovered that the industry-specific factors variable has a negative significant influence because industry leaders (firms in high carbon-intensive sectors) exhibit poor sustainability performance, suggesting a negative attitude towards environmental issues. The study discovered a positive and highly significant influence of stakeholder pressure, while country-level attributes partially played a significant role. Overall, the findings show that a disparity exists in the level of response between the different global economies. The justification for the findings is based on the theory of interested parties, political theory, and legitimacy concerns that shape the strategic choices made by companies. Full article
(This article belongs to the Special Issue Contemporary Issues in Applied Economics and Sustainability)
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15 pages, 1691 KiB  
Article
Can Coordinated Development of Manufacturing and Information Communication Service Industries Boost Economic Resilience? An Empirical Study Based on China’s Provinces
by Yi Xu, Jian Li, Yongcan Yan, Pengcheng Gao and Heng Xie
Sustainability 2022, 14(17), 10758; https://0-doi-org.brum.beds.ac.uk/10.3390/su141710758 - 29 Aug 2022
Cited by 2 | Viewed by 1468
Abstract
Information and communication technology has supported industrial digitalization and brought profound changes to many industries. Under the influence of new technologies and applications, the production mode, enterprise form, business mode and employment mode of manufacturing have accelerated reform, which has effectively promoted the [...] Read more.
Information and communication technology has supported industrial digitalization and brought profound changes to many industries. Under the influence of new technologies and applications, the production mode, enterprise form, business mode and employment mode of manufacturing have accelerated reform, which has effectively promoted the production efficiency and green development of manufacturing. In the face of the complicated and severe economic situation and the wave of industrial digitalization in the world today, it is necessary to study the influence of the coordinated development of manufacturing and information communication service industries (M&ICS industries) on economic resilience. Based on the data of China’s 30 provinces during 2010–2020, this paper estimates the economic resilience and the degree of coordinated development of M&ICS industries. Next, based on the setting of two spatial weight matrices, it uses a spatial econometric model to systematically analyze the influence of the coordinated development of M&ICS industries on economic resilience across China’s provinces. The research results show that the economic resilience across China’s provinces had significant positive spatial correlation. Moreover, the coordination between M&ICS industries had a significant positive effect on economic resilience; however, such an effect was concentrated mostly locally, and the spillover effect on surrounding regions was negative and nonsignificant. This study is of vital strategic significance and practical value to promoting both the resilience of the regional economy and the digital transformation of manufacturing. Full article
(This article belongs to the Special Issue Contemporary Issues in Applied Economics and Sustainability)
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16 pages, 1358 KiB  
Article
Financial Resilience in the Face of Turbulent Times: Evidence from Poland and Croatian Cities
by Katarzyna Aleksandra Wόjtowicz and Sabina Hodžić
Sustainability 2022, 14(17), 10632; https://0-doi-org.brum.beds.ac.uk/10.3390/su141710632 - 26 Aug 2022
Cited by 3 | Viewed by 2171
Abstract
The financial crisis and COVID-19 pandemic have affected the financial systems at various levels of government. The cities in Poland and Croatia have been no exemption. In turbulent times, they have been faced with the need to reorient their budgets to remain resilient [...] Read more.
The financial crisis and COVID-19 pandemic have affected the financial systems at various levels of government. The cities in Poland and Croatia have been no exemption. In turbulent times, they have been faced with the need to reorient their budgets to remain resilient and solvent. Therefore, the purpose of this article is to investigate the financial resilience profiles of large cities in Poland and Croatia from 2010 to 2020 and to identify the factors differentiating the identified resilience patterns. To obtain empirical results, a two-stage research procedure was employed. In the first stage, group-based trajectory modeling (GBTM) was applied, while a panel data regression was employed in the second. Our research has revealed different patterns of financial resilience among the cities in Poland and Croatia; moreover, the scope of fiscal resilience of local government units (LGUs) differed over time, which made it possible to distinguish four groups of cities in every country characterized by similar resilience trajectories over time. The common predictors of fiscal resilience in both countries are the percentage of the operating surplus in total income, total income per capita and capital expenditure per capita, although the strength of its impact varies from group to group identified by GBTM. Our research has shown that the source of differences in LGUs’ financial resilience is not as much the nature and intensity of the disturbances experienced as the internal financial capacity. Full article
(This article belongs to the Special Issue Contemporary Issues in Applied Economics and Sustainability)
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19 pages, 327 KiB  
Article
The Relationship between Corporate Sustainable Development Performance, Investor Sentiment, and Managerial Overconfidence
by Chaohai Shen, Bingquan Fang and Xiaolan Zhou
Sustainability 2022, 14(17), 10606; https://0-doi-org.brum.beds.ac.uk/10.3390/su141710606 - 25 Aug 2022
Cited by 2 | Viewed by 2237
Abstract
In the post-pandemic era, companies are facing challenges in their business development and may pay fewer attention to their sustainable development performance, whereas the investors are looking for better corporate sustainable development. Using a sample of Chinese listed companies during 2010–2018, this paper [...] Read more.
In the post-pandemic era, companies are facing challenges in their business development and may pay fewer attention to their sustainable development performance, whereas the investors are looking for better corporate sustainable development. Using a sample of Chinese listed companies during 2010–2018, this paper empirically examines the relation between corporate sustainable development performance, investor sentiment, and managerial overconfidence with econometric tools such as panel data regression and S-GMM estimation. Three kinds of corporate sustainable development activities as measured by Corporate Social Responsibility (CSR) indexes, including consumer rights, employee benefits, and environmental protection, are proved to have a positive impact on investor sentiment. Compared to the SME and GEM Board, investor sentiment in the Main Board is less affected by corporate sustainable development. Furthermore, investor’s high sentiment leads to high managerial confidence in the SME and GEM Board, and managerial overconfidence is self-correcting over time. This paper illustrates why maintaining good corporate sustainable development performance is beneficial for listed companies from a new perspective. Full article
(This article belongs to the Special Issue Contemporary Issues in Applied Economics and Sustainability)
24 pages, 2383 KiB  
Article
Research of the Smart City Concept in Romanian Cities
by Simona Bălășescu, Nicoleta Andreea Neacșu, Anca Madar, Alexandra Zamfirache and Marius Bălășescu
Sustainability 2022, 14(16), 10004; https://0-doi-org.brum.beds.ac.uk/10.3390/su141610004 - 12 Aug 2022
Cited by 6 | Viewed by 2018
Abstract
The Smart City concept has emerged in the last decade as a fusion of ideas about how information and communication technologies could improve the functioning of cities. A new concept, that of a sustainable Smart City, is already under discussion. This article aims [...] Read more.
The Smart City concept has emerged in the last decade as a fusion of ideas about how information and communication technologies could improve the functioning of cities. A new concept, that of a sustainable Smart City, is already under discussion. This article aims at analyzing the Smart City concept in Romania. The resulting advantages, but also the difficulties and obstacles that need to be confronted, are considered when becoming a Smart City. When a city wants to become smart, it must consider both the advantages and the difficulties it will face in this endeavor. This paper has been able to take into account and group the four key features of a sustainable Smart City. The authors conducted research in two parts. The first consisted of conducting a comparative analysis of the most important results of Smart City projects implemented in the four reference cities in Romania compared to London. The second, a quantitative analysis, aimed to analyze the opinions and attitudes of Romanians regarding the Smart City concept in relation to sustainability. An important finding of the study shows that over half of the respondents are familiar with the Smart City concept and 41.9% consider health as a priority for investment in technology. The authors of the article propose clearer highlighting and division of cities from the point of view of creating a Smart City. Full article
(This article belongs to the Special Issue Contemporary Issues in Applied Economics and Sustainability)
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16 pages, 1566 KiB  
Article
Research on the Spatial Agglomeration of Commodity Trading Markets and Its Influencing Factors in China
by Shouhong Xie and Hanbing Li
Sustainability 2022, 14(15), 9534; https://0-doi-org.brum.beds.ac.uk/10.3390/su14159534 - 03 Aug 2022
Viewed by 1281
Abstract
Spatial agglomeration, as a phenomenon of commodity trading markets, reflects regional economic development in China. This study explores the spatial agglomeration of commodity trading markets and analyzes its influencing factors. Based on the panel data of 30 provinces in China from 2010 to [...] Read more.
Spatial agglomeration, as a phenomenon of commodity trading markets, reflects regional economic development in China. This study explores the spatial agglomeration of commodity trading markets and analyzes its influencing factors. Based on the panel data of 30 provinces in China from 2010 to 2019, this article first calculated the location quotient of the transaction volume of commodity trading markets and analyzed their temporal and spatial trends. Finally, a spatial econometric model was used to conduct an empirical examination of the influencing factors determining the spatial agglomeration of commodity trading markets. The results show that the agglomeration pattern of China’s commodity trading markets has changed significantly from 2010 to 2019. In terms of geographic variations, we discovered that the eastern region has a higher degree of commodity trading market concentration than the central and western regions. In terms of influencing factors, this study found that the level of economic development, the degree of openness, and the development of private industrial enterprises still positively affect the spatial agglomeration of commodity trading markets. However, the level of social consumption has no significant impact. Based on these findings, this article puts forward relevant policy recommendations to promote the further development of China’s commodity exchange market. Full article
(This article belongs to the Special Issue Contemporary Issues in Applied Economics and Sustainability)
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15 pages, 599 KiB  
Article
Adapting Reverse Mentoring Strategy to SMEs: A New Pilot Model Implemented in Brazil
by Dafna Schwartz, Raphael Bar-El and David J. Bentolila
Sustainability 2022, 14(15), 9515; https://0-doi-org.brum.beds.ac.uk/10.3390/su14159515 - 03 Aug 2022
Cited by 1 | Viewed by 1689
Abstract
In recent years, the Reverse Mentoring (RM) model has gained popularity in large companies. Although the prevailing RM model—junior employees mentoring senior employees—benefits both groups and promotes innovation, small and medium-sized enterprises (SMEs) do not implement it due to lack of economies of [...] Read more.
In recent years, the Reverse Mentoring (RM) model has gained popularity in large companies. Although the prevailing RM model—junior employees mentoring senior employees—benefits both groups and promotes innovation, small and medium-sized enterprises (SMEs) do not implement it due to lack of economies of scale, organizational capacities, and skilled junior employees. We devise a new RM model for SMEs that overcomes these disadvantages. First, the intervention of an intermediate, trusted professional entity initiates and supports the program for several companies; second, the mentors are not junior employees, but external graduate students with education in innovation. A pilot experiment was tested in the state of Ceara, Brazil. The preliminary findings support the new model’s feasibility and efficacy for SMEs. The intervention stimulated significant innovative ideas and resulted in out-of-the-box thinking, identification of potentials for innovation opportunities, and adaptation of an open innovation approach, which is important for SMEs with limited financial and non-financial resources. This study contributes to the literature on SMEs and RM by offering a new model that can overcome existing market failures experienced by SMEs. Empirical testing demonstrates its feasibility. Full article
(This article belongs to the Special Issue Contemporary Issues in Applied Economics and Sustainability)
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17 pages, 2548 KiB  
Article
Regional Niche and Spatial Distribution of Foreign Investment in China from 2012 to 2021
by Ling Ding, Jinxi Wu, Ziyou Ma and Jialu Mai
Sustainability 2022, 14(15), 9329; https://0-doi-org.brum.beds.ac.uk/10.3390/su14159329 - 29 Jul 2022
Viewed by 1083
Abstract
Strategic positioning is the core issue of strategic management, and regional niche is the core of strategic positioning. Regional niche has important implications in sustainability transition. In this study, the regional niche and spatial distribution of foreign investment in 31 provinces of China [...] Read more.
Strategic positioning is the core issue of strategic management, and regional niche is the core of strategic positioning. Regional niche has important implications in sustainability transition. In this study, the regional niche and spatial distribution of foreign investment in 31 provinces of China from 2012 to 2021 are explored regarding sustainability transition. The results show that: (1) Low fierce competition is important for foreign-investment resources in sustainability transition in general. (2) The gradient of niche-evolution momentum is considerable in sustainability transformation. (3) The spatial echelon distribution of foreign investment is obvious in sustainability transition with a positive spatial-geography correlation. Therefore, in view of the overall space–time development and political layout of foreign investment in emerging industrialized countries such as China in the future, this study has important practical significance. It proposes countermeasures for policy-makers and managers to promote the expansion, evolution, and coordination of foreign investment in regional resources. The conclusion is helpful for China and other emerging industrial countries to successfully realize the space–time layout of regional niche, through foreign investment, and improve their open capabilities of global sustainable development. Full article
(This article belongs to the Special Issue Contemporary Issues in Applied Economics and Sustainability)
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15 pages, 2317 KiB  
Article
Analysis on the Steady Growth Effect of China’s Fiscal Policy from a Dynamic Perspective
by Huiqin Li, Shuai Guan and Yongfu Liu
Sustainability 2022, 14(13), 7648; https://0-doi-org.brum.beds.ac.uk/10.3390/su14137648 - 23 Jun 2022
Cited by 4 | Viewed by 1217
Abstract
Under the goal of a “new development pattern”, it is of great practical significance to accurately identify the economic growth effect of fiscal and tax policies. This paper constructs a TVP-FAVAR model to measure the economic effects of China’s fiscal and tax policies [...] Read more.
Under the goal of a “new development pattern”, it is of great practical significance to accurately identify the economic growth effect of fiscal and tax policies. This paper constructs a TVP-FAVAR model to measure the economic effects of China’s fiscal and tax policies at the aggregate and structural levels. The results show that the reduction in total tax has a positive effect on real variables such as output and consumption; especially at the present stage, the promotion effect of total tax reduction on economic growth is relatively strong, but the stimulation effect on price is relatively weak. Further, the tax structure in which the ratio of direct tax to total tax increases and the ratio of indirect tax to total tax decreases is more conducive to the increase in output and consumption, and will not strongly stimulate the rise of price level. Therefore, at this stage, China should continue to vigorously implement the tax reduction policy and ensure the continuity of the tax reduction policy. At the same time, we should continue to optimize the tax structure and give better play to the regulatory role of fiscal and tax policies in income redistribution, so as to achieve the goal that fiscal and tax policies help build a “new development pattern” and promote high-quality economic development. Full article
(This article belongs to the Special Issue Contemporary Issues in Applied Economics and Sustainability)
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37 pages, 10403 KiB  
Article
Do Knowledge Economy Indicators Affect Economic Growth? Evidence from Developing Countries
by Maha Mohamed Alsebai Mohamed, Pingfeng Liu and Guihua Nie
Sustainability 2022, 14(8), 4774; https://0-doi-org.brum.beds.ac.uk/10.3390/su14084774 - 15 Apr 2022
Cited by 13 | Viewed by 4337
Abstract
The competitiveness of national economies is increasingly dependent on their ability to produce and use knowledge, as knowledge, education, and innovation are the main indicators of economic growth in a globalizing world. Many countries have adopted policies related to the production of knowledge [...] Read more.
The competitiveness of national economies is increasingly dependent on their ability to produce and use knowledge, as knowledge, education, and innovation are the main indicators of economic growth in a globalizing world. Many countries have adopted policies related to the production of knowledge and its transformation into wealth that stimulates the growth and competitiveness of their economies. Through our study, we measured some knowledge economy (KE) variables for a sample of 20 developing countries. During the period (1996–2020), using panel data, the estimate was made using three models: the cumulative regression model, the fixed-effects model, and the random-effects model. The results of the statistical tests indicated that the fixed-effects model is the appropriate model, and that the estimates of the proposed model parameters do not contradict the assumptions of economic theory, nor do they contradict the practical reality. In addition, the results showed that 93% one of the changes that occur in economic growth in the developing countries under study is due to the dependence on the knowledge economy. It became clear through the study that the use of cross-sectional time-series models increases the accuracy of statistical forecasting, because it considers the information with a time dimension in the time series, as well as the cross-sectional dimension in different units. Our study found a positive impact on economic growth of the internet and mobile phone users, control of corruption, political stability, foreign direct investment, and the total value of international trade. Additionally, spending on education, patents for residents, and trade openness had a negative impact on economic growth. Accordingly, the knowledge economy in developing countries contributed greatly to their economic growth and had a prominent role in maintaining high rates of growth for decades. Our study contributes by expanding the scope of developing countries in deciding to focus on the important indicators in the knowledge economy (KE), so that they can increase the added value of their economic growth. Full article
(This article belongs to the Special Issue Contemporary Issues in Applied Economics and Sustainability)
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21 pages, 3621 KiB  
Article
Measuring the Intermediate Goods’ External Dependency on the Global Value Chain: A Case Study of China
by Wen Chen and Lizhi Xing
Sustainability 2022, 14(7), 4360; https://0-doi-org.brum.beds.ac.uk/10.3390/su14074360 - 06 Apr 2022
Cited by 4 | Viewed by 2446
Abstract
In the face of the anti-globalization trend and the shrinking of the global value chain, ensuring the safety of the global layout of the industrial chain and the sustainability of each country’s internal intermediate product production cycle has become an important new development [...] Read more.
In the face of the anti-globalization trend and the shrinking of the global value chain, ensuring the safety of the global layout of the industrial chain and the sustainability of each country’s internal intermediate product production cycle has become an important new development strategy for all countries. The sustainability of the internal and external cycles of production systems is closely related to global value chains. Based on the world input-output model, we define the trade pattern of intermediate goods in various countries from the perspective of trade intermediary attributes, and propose two indicators by which to measure the dependence of China on the global value chain in the process of “dual circulation” development: the degree of vertical specialization (VSD) and the import share of domestic total consumption (IMS); China’s super-large market leads to low values of both VSD and IMS. China’s high-tech industry has the highest degree of external dependence in the process of participating in dual circulation, and there has been a fluctuation cycle since 2009. The external dependence of different industries shows heterogeneity. Full article
(This article belongs to the Special Issue Contemporary Issues in Applied Economics and Sustainability)
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20 pages, 510 KiB  
Article
Peer Effect in Merger and Acquisition Activities and Its Impact on Corporate Sustainable Development: Evidence from China
by Yue Gu, Shenglin Ben and Jiamin Lv
Sustainability 2022, 14(7), 3891; https://0-doi-org.brum.beds.ac.uk/10.3390/su14073891 - 25 Mar 2022
Cited by 10 | Viewed by 2554
Abstract
The research aims to investigate the existence of peer effect in mergers and acquisitions and study its impact on corporate sustainable development. It first constructs a peer effect testing model to examine whether there is peer effect in mergers and acquisitions, based on [...] Read more.
The research aims to investigate the existence of peer effect in mergers and acquisitions and study its impact on corporate sustainable development. It first constructs a peer effect testing model to examine whether there is peer effect in mergers and acquisitions, based on quarterly data in China between 2005 and 2019. Then, two econometric models are proposed separately to explore the impact of economic policy uncertainty on the merger and acquisition peer effect, as well as how the peer effect affects corporate sustainability. The key findings show that (i) firms tend to imitate their peers’ merger and acquisition behaviors, which means that the peer effect does exist in mergers and acquisitions; (ii) economic policy uncertainty could strengthen the peer effect in mergers and acquisitions; (iii) the peer effect has a negative impact on corporate sustainable development, and the impact is more significant within a relatively short period. Therefore, this study enriches the research of behavior science in mergers and acquisitions, improves the accuracy of peer effect testing and enables both firms and policymakers to mitigate irrational imitation in merger and acquisition deals, thus achieving their sustainable development goals. Full article
(This article belongs to the Special Issue Contemporary Issues in Applied Economics and Sustainability)
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22 pages, 2451 KiB  
Article
Study on the Coupling Coordination and Spatial Correlation Effect of Green Finance and High-Quality Economic Development—Evidence from China
by Tao Zhou, Rui Ding, Yiming Du, Yilin Zhang, Shihui Cheng and Ting Zhang
Sustainability 2022, 14(6), 3137; https://0-doi-org.brum.beds.ac.uk/10.3390/su14063137 - 08 Mar 2022
Cited by 19 | Viewed by 2689
Abstract
The article aims to study the coupling coordination and spatial correlation effects of green finance (GF) and high-quality economic development (HQED) in 30 Chinese provinces. The index system of GF and HQED is constructed by selecting relevant index data from 2007 to 2017. [...] Read more.
The article aims to study the coupling coordination and spatial correlation effects of green finance (GF) and high-quality economic development (HQED) in 30 Chinese provinces. The index system of GF and HQED is constructed by selecting relevant index data from 2007 to 2017. The index of GF and HQED is measured by the entropy value method. Next, the coupling coordination degree (CCD) and spatial association strength are calculated based on the index using the coupling coordination degree model and the gravity model. Then the driving factors of the CCD between GF and HQED are analyzed by using geographic detectors. Finally, the spatial association network is constructed and its robustness is studied. The research results show that the coupling coordination degree between GF and HQED in each province is generally low, with strong regional heterogeneity, and the coupling coordination degree shows a trend of decay from the eastern region to the western region, but the western region has more room for development. Green credit, green, coordination, and sharing are the strong driving factors of the CCD between GF and HQED. The network of spatial association between GF and HQED in each province is gradually tightened, making the western peripheral provinces more closely connected with the eastern provinces through the intermediate node provinces. The network robustness of GF and HQED is more influenced by provinces with higher node degree values. Accordingly, the article proposes that China should continuously improve relevant GF policies, environmental disclosure systems, enhance green innovation technology and guide private capital to enter the GF market. Full article
(This article belongs to the Special Issue Contemporary Issues in Applied Economics and Sustainability)
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18 pages, 318 KiB  
Article
Identifying Symptoms of Bankruptcy Risk Based on Bankruptcy Prediction Models—A Case Study of Poland
by Jerzy Kitowski, Anna Kowal-Pawul and Wojciech Lichota
Sustainability 2022, 14(3), 1416; https://0-doi-org.brum.beds.ac.uk/10.3390/su14031416 - 26 Jan 2022
Cited by 14 | Viewed by 3669
Abstract
The article presents selected Polish early warning models (logit and discriminant models) that allow the assessment of the risk of bankruptcy of a company, and the purpose of the considerations is to indicate their prognostic effectiveness in predicting susceptible Polish companies one year [...] Read more.
The article presents selected Polish early warning models (logit and discriminant models) that allow the assessment of the risk of bankruptcy of a company, and the purpose of the considerations is to indicate their prognostic effectiveness in predicting susceptible Polish companies one year before their declarations of bankruptcy. The limitations of these methods were also indicated in unpredictable situations, such as the outbreak of an economic crisis, e.g., caused by a humanitarian crisis—the COVID-19 pandemic. Another aim chosen in the article is a methodological critical assessment of the phenomenon of widespread use of foreign models (including the common Altman method) in the study of the risk of bankruptcy of Polish enterprises. Models developed on a sample of foreign enterprises without prior adaptation to domestic conditions are used all over the world, so the conclusions of the article are applicable internationally. The research was based on a query of Polish and foreign literature in the field of economic and legal aspects of bankruptcy and financial analysis, including, in particular, bankruptcy forecasting. The empirical research analyzes the financial data of 50 Polish enterprises from 2017 to 2018. The effectiveness of the selected bankruptcy forecasting models in identifying enterprises from section C of the Polish economy (industrial processing) that filed for bankruptcy in 2018 and 2019 was tested. The time frame fully allows for the identification and the assessment of the effectiveness of early warning models a year before bankruptcy. Full article
(This article belongs to the Special Issue Contemporary Issues in Applied Economics and Sustainability)
22 pages, 971 KiB  
Article
The Importance of Global Value Chains in Developing Countries’ Agricultural Trade Development
by Tomasz Białowąs and Anna Budzyńska
Sustainability 2022, 14(3), 1389; https://0-doi-org.brum.beds.ac.uk/10.3390/su14031389 - 26 Jan 2022
Cited by 9 | Viewed by 5254
Abstract
The role of global value-added chains is growing in international trade. The development gap between highly developed economies and developing countries means that the only products with which less developed economies can compete on the international arena are agricultural products. Moreover, integration into [...] Read more.
The role of global value-added chains is growing in international trade. The development gap between highly developed economies and developing countries means that the only products with which less developed economies can compete on the international arena are agricultural products. Moreover, integration into global value-added chains is an important factor in achieving comparative advantages in trade and improving export competitiveness. The main aim of this article is to assess the impact of integration within global value chains on changes in the comparative advantage of developing countries in the global agricultural trade. The degree of participation of developing countries in global value chains (GVC) was assessed using data from the Trade in Value-added OECD–WTO database (November 2021 edition) by calculating domestic (DVA), foreign value-added (FVA), and revealed comparative advantage (RCA) indexes. The analysis covers the period 1995–2018 and 28 developing economies. The research showed that the foreign value added in the gross exports of agricultural commodities of developing countries was an important factor in strengthening their export position and the importance of integration within global value chains rises with increasing product complexity. In agricultural production, FVA in most developing countries does not have a significant impact on the shaping of the comparative advantage. Full article
(This article belongs to the Special Issue Contemporary Issues in Applied Economics and Sustainability)
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14 pages, 1740 KiB  
Article
The Dynamic Relationship between China’s Economic Cycle, Government Debt, and Economic Policy
by Yifu Yang, Sheng Zhang, Nannan Zhang, Zuhui Wen, Qihao Zhang, Meng Xu, Yingfan Zhang and Muchuan Niu
Sustainability 2022, 14(2), 1029; https://0-doi-org.brum.beds.ac.uk/10.3390/su14021029 - 17 Jan 2022
Cited by 10 | Viewed by 3008
Abstract
Economic growth is an integral part of the Sustainable Development Goals (SDGs), especially SDG 8. We combine 10 economic constraints and build a five-variable (structural vector autoregressive) SVAR model based on China’s time series data of 1978–2017. The empirical results show: (1) The [...] Read more.
Economic growth is an integral part of the Sustainable Development Goals (SDGs), especially SDG 8. We combine 10 economic constraints and build a five-variable (structural vector autoregressive) SVAR model based on China’s time series data of 1978–2017. The empirical results show: (1) The Chinese government adopted different economic policies at different stages of reform and opening up; (2) From the impulse response results, China’s excessively high government debt ratio has begun to inhibit economic growth; (3) In terms of policy selection and coordination, the Chinese government mostly adopts a “discretion” adjustment strategy. In most cases, the fiscal and monetary policies were in the same direction, and the “double expansionary” and “double contractionary” policy coordination may become mainstream; (4) The results of variance decomposition showed that both fiscal and monetary policies can effectively regulate economic growth at the present stage, and the contribution rates of exogenous shocks to the prediction variance of economic growth rate were about 25%. Full article
(This article belongs to the Special Issue Contemporary Issues in Applied Economics and Sustainability)
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18 pages, 1621 KiB  
Article
Social Investing Modeling for Sustainable Development of the Russian Arctic
by Andrey Novoselov, Ivan Potravny, Irina Novoselova and Violetta Gassiy
Sustainability 2022, 14(2), 933; https://0-doi-org.brum.beds.ac.uk/10.3390/su14020933 - 14 Jan 2022
Cited by 16 | Viewed by 1710
Abstract
The method of the social investing of the Arctic subsoil users is considered in this article. As the portfolio of social investments is formed based on the interests of indigenous peoples, the authors used expert assessment and sociological research for social investing modeling. [...] Read more.
The method of the social investing of the Arctic subsoil users is considered in this article. As the portfolio of social investments is formed based on the interests of indigenous peoples, the authors used expert assessment and sociological research for social investing modeling. A two-stage procedure for forming a portfolio of such projects is proposed. An approach has also been developed for assessing and selecting investment projects for the Arctic sustainable development according to different criteria of optimality. The authors substantiate the need for a new approach to sustainable development of the Arctic, based not on compensation for the negative consequences of industrial development used in many countries, but on social investment. In this article the proposed approach is tested on the case of the Arctic indigenous community in Taimyr and the optimal social investing portfolio is justified. Full article
(This article belongs to the Special Issue Contemporary Issues in Applied Economics and Sustainability)
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17 pages, 758 KiB  
Article
Club Convergence in R&D Expenditure across European Regions
by Tomasz Kijek, Arkadiusz Kijek and Anna Matras-Bolibok
Sustainability 2022, 14(2), 832; https://0-doi-org.brum.beds.ac.uk/10.3390/su14020832 - 12 Jan 2022
Cited by 8 | Viewed by 2154
Abstract
The increasing disparities between European regions constitute a great challenge for sustainable development and require identification of the factors responsible for this process. Given the substantive role of R&D in shaping innovativeness and economic development, understanding its dynamics and spatial patterns can provide [...] Read more.
The increasing disparities between European regions constitute a great challenge for sustainable development and require identification of the factors responsible for this process. Given the substantive role of R&D in shaping innovativeness and economic development, understanding its dynamics and spatial patterns can provide new insights into regional growth prospects. Although prior studies have investigated the patterns of innovation convergence, apparently none has attempted to test the convergence club hypothesis in R&D expenditure in the European regional scope. Therefore, the present study aims to fill this gap. The paper aims at examining the convergence path of R&D expenditure across European regions and at identifying the factors conditioning club membership. Data were retrieved from Eurostat’s regional database and Regional Innovation Scoreboard datasets over 2008–2018. Employing a nonlinear time-varying factor model, we reveal that R&D expenditure in the examined regions follows the pattern of club convergence. The results of our research allow to identify five convergence clubs characterised by distinct disparities in the R&D expenditures. We also demonstrate that the emergence of the identified convergence clubs might be attributable to the initial differences in human capital, external knowledge embedded in patents and technological structures across regions as measured by employment in medium-high and high-tech manufacturing and knowledge-intensive services. These results provide policy implications in terms of the formulation and implementation of more tailored innovation policies, based on smart development and specialisation strategies. The presence of business R&D convergence clubs requires shifting EU policy actions towards a more sustainable model promoting both the advantages of the strongest regions and the development opportunities in less-developed ones. Full article
(This article belongs to the Special Issue Contemporary Issues in Applied Economics and Sustainability)
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25 pages, 632 KiB  
Article
Margin Trading Program, External Profit Pressure and Enterprise Financialization—A Quasi-Natural Experiment Based on Double Difference Model
by Shuiwen Gao, Haifeng Gu and Habiba Halepoto
Sustainability 2022, 14(2), 711; https://0-doi-org.brum.beds.ac.uk/10.3390/su14020711 - 10 Jan 2022
Cited by 4 | Viewed by 2570
Abstract
Based on the urgent need of the real economy to “get away from fictitious to substantial”, this paper constructs a quasi-natural experiment based on the margin trading program gradually implemented in China in 2010 and studies the influence of the margin trading program [...] Read more.
Based on the urgent need of the real economy to “get away from fictitious to substantial”, this paper constructs a quasi-natural experiment based on the margin trading program gradually implemented in China in 2010 and studies the influence of the margin trading program on the financialization level of the target company by using the difference-in-difference method. The results show that, because of the dominant role of financing transactions in margin trading programs in China’s capital market, financing transactions drive up the share prices of listed companies, which leads to an excessive easing of the financing constraints of listed companies and short-sighted behavior of executives, which has a significant role in promoting enterprise financialization. Moreover, the driving effect is more significant in state-owned enterprises, enterprises with a high degree of financing constraint, and enterprises with a low degree of marketization. Economic policy uncertainty will restrain the positive effect of margin trading programs on enterprise financialization through information and governance mechanisms. In contrast, the “branding” effect caused by the financial connection of senior executives will intensify the positive relationship between margin trading programs on enterprise financialization levels. When considering the intermediary effect, we find that the margin trading program will result in the optimistic deviation of analysts’ earnings forecasts and cause the external profit pressure of enterprises, thus increasing the financialization trend. This study is of great theoretical significance and practical value for evaluating the policy effect of the margin trading program, improving this policy, investigating the influencing factors of enterprise financialization, and promoting the real economy to move from fictitious to substantial. Full article
(This article belongs to the Special Issue Contemporary Issues in Applied Economics and Sustainability)
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20 pages, 1343 KiB  
Article
Direct Payments and Sustainable Agricultural Development—The Example of Poland
by Adrian Sadłowski, Wioletta Wrzaszcz, Katarzyna Smędzik-Ambroży, Anna Matras-Bolibok, Anna Budzyńska, Marek Angowski and Stefan Mann
Sustainability 2021, 13(23), 13090; https://0-doi-org.brum.beds.ac.uk/10.3390/su132313090 - 26 Nov 2021
Cited by 10 | Viewed by 2240
Abstract
This paper aims to explore the importance of the direct-payments scheme as a tool for supporting the sustainable development of agriculture in Poland, and to assess the effects of the 2015 Common Agricultural Policy reform in this context. In particular, the study attempts [...] Read more.
This paper aims to explore the importance of the direct-payments scheme as a tool for supporting the sustainable development of agriculture in Poland, and to assess the effects of the 2015 Common Agricultural Policy reform in this context. In particular, the study attempts to investigate the impact of different fund-allocation criteria on the regional distribution of direct payments. The research employs a simulation method in the form of variant analysis (the “what if” model)—a mathematical method with elements of statistical description, based on the complete dataset. For the purposes of one of the variants, a multi-criteria composite indicator was constructed, including stimulants and destimulants of the level of environmental sustainability of agricultural plant production. The analysis was conducted at the NUTS 2 level (voivodeships). The timeframe of the study covered the period 2010–2019. The data published by Statistics Poland and the Agency for the Restructuring and Modernisation of Agriculture were used as the source material. The analysis indicated that the 2015 Common Agricultural Policy reform redistributed public funds away from sustainable agricultural management principles. Applying some basic sustainability criteria in order to internalise environmental externalities would lead to a radical redistribution of first-pillar Common Agricultural Policy payments. The paper concludes that a real greening of the European Union’s agricultural policy is a task still to be accomplished. Full article
(This article belongs to the Special Issue Contemporary Issues in Applied Economics and Sustainability)
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19 pages, 358 KiB  
Article
The Impact of Social Responsibility Performance on the Value Relevance of Financial Data in the Banking Sector: Evidence from Poland
by Piotr Bolibok
Sustainability 2021, 13(21), 12006; https://0-doi-org.brum.beds.ac.uk/10.3390/su132112006 - 29 Oct 2021
Cited by 8 | Viewed by 3340
Abstract
Corporate social responsibility (CSR) is inevitably becoming an increasingly important part of almost every business. This is particularly true for the banking industry, which suffered substantial losses in reputation and public trust in the aftermath of the global financial crisis. Not surprisingly therefore, [...] Read more.
Corporate social responsibility (CSR) is inevitably becoming an increasingly important part of almost every business. This is particularly true for the banking industry, which suffered substantial losses in reputation and public trust in the aftermath of the global financial crisis. Not surprisingly therefore, banks around the world have visibly intensified their CSR efforts. One of the key dimensions of CSR regards the reliability and transparency of a firm’s communication with the market, which suggests that information disclosed by responsible companies may be more value relevant. The related evidence, especially in the banking sector, is however modest and mixed. The paper aims, therefore, at empirical investigation of the impact of social responsibility performance on the value relevance of financial data in the Polish banking sector. The research employs multivariate regression analysis based on the Ohlson model and the Chow test for structural breaks. The examined sample covers 154 bank-year observations of 17 banks listed on the Warsaw Stock Exchange from 2009–2020. The results suggest that financial disclosures of banks included in CSR indices are generally more value relevant. Additionally, more responsible banks exhibit higher (lower) responsiveness of market values to net earnings (book values of equity) compared to their less socially responsible counterparts. Full article
(This article belongs to the Special Issue Contemporary Issues in Applied Economics and Sustainability)
23 pages, 608 KiB  
Article
How Inclusive Digital Financial Services Impact User Behavior: A Case of Proximity Mobile Payment in Korea
by Hong-Lei Mu and Young-Chan Lee
Sustainability 2021, 13(17), 9567; https://0-doi-org.brum.beds.ac.uk/10.3390/su13179567 - 25 Aug 2021
Cited by 9 | Viewed by 3189
Abstract
Users’ payment behaviors have changed. The diffusion of mobile devices makes people suitable for proximity mobile payment (PMP) services without traditional payment. Existing mobile payment literature mainly focuses on the adoption and continuous usage behavior. Nevertheless, switching behavior on payment has received little [...] Read more.
Users’ payment behaviors have changed. The diffusion of mobile devices makes people suitable for proximity mobile payment (PMP) services without traditional payment. Existing mobile payment literature mainly focuses on the adoption and continuous usage behavior. Nevertheless, switching behavior on payment has received little attention, especially on why people switch from traditional payment to PMP. Thus, the purpose of this study is to investigate factors influencing users’ traditional payment–PMP switching to comprehend how these factors shape switching intention. To that end, we developed a traditional payment–PMP transition model based on the push–pull–mooring framework derived from migration theory. This study conducted a structural equation modeling analysis on 311 valid data. The findings indicated that a push factor drives users away from traditional payment in terms of dissatisfaction. The pull factors, including perceived substitutability and perceived usefulness, attract users to PMP. Furthermore, a positive mooring factor facilitates users’ switching intention to PMP in terms of perceived technical compatibility. The negative mooring factor, in terms of perceived risk, hinders users’ switching intention. However, another pull factor—perceived ease of use—failed to influence switching intention significantly. This study found some distinctions between mobile payment switching and mobile payment adoption. These findings provide pivotal insights for mobile payment service providers. Full article
(This article belongs to the Special Issue Contemporary Issues in Applied Economics and Sustainability)
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21 pages, 53696 KiB  
Article
A Comparative Study of the Robustness and Resilience of Retail Areas in Seoul, Korea before and after the COVID-19 Outbreak, Using Big Data
by Dongjun Kim, Jinsung Yun, Kijung Kim and Seungil Lee
Sustainability 2021, 13(6), 3302; https://0-doi-org.brum.beds.ac.uk/10.3390/su13063302 - 17 Mar 2021
Cited by 13 | Viewed by 3143
Abstract
This study aimed to assess the robustness and resilience of retail areas in Seoul, based on the changes in sales before and after the COVID-19 outbreak. The spatial range and temporal scope of the study were set as district- and community-level retail areas [...] Read more.
This study aimed to assess the robustness and resilience of retail areas in Seoul, based on the changes in sales before and after the COVID-19 outbreak. The spatial range and temporal scope of the study were set as district- and community-level retail areas in Seoul, from January 2019 to August 2020, to consider the effect of the COVID-19 outbreak. The data used in this study comprised sales information from the retail sector, namely Shinhan Card sales data for domestic and foreigners by business type in Seoul, provided by Seoul Big Data Campus. We classified the retail areas based on the change in sales before and after the COVID-19 outbreak, using time series clustering. The results of this study showed that time series clustering based on the change in sales can be used to classify retail areas. The similarities and differences were confirmed by comparing the functional and structural characteristics of the district- and community-level retail areas by cluster and by retail area type. Furthermore, we derived knowledge on the decline and recovery of retail areas before and after a national crisis such as the emergence of a COVID-19 wave, which can provide significant information for sustainable retail area management and regional economic development. Full article
(This article belongs to the Special Issue Contemporary Issues in Applied Economics and Sustainability)
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19 pages, 521 KiB  
Perspective
Reimagining Food: Readdressing and Respecting Values
by Sophia Lingham, Louise Manning and Damian Maye
Sustainability 2022, 14(12), 7328; https://0-doi-org.brum.beds.ac.uk/10.3390/su14127328 - 15 Jun 2022
Cited by 3 | Viewed by 1974
Abstract
The values associated with food are framed and constructed by market-based systems that assign attributes to different foods across the marketplace. The aim of the paper was to conceptualize the range of non-financial aspects associated with food in the literature examined and a [...] Read more.
The values associated with food are framed and constructed by market-based systems that assign attributes to different foods across the marketplace. The aim of the paper was to conceptualize the range of non-financial aspects associated with food in the literature examined and a typology was introduced to position a new set of non-financial food values, the alter-values, which support the creation of a more holistic approach to visualize and reimagine a more sustainable, resilient food system that readdresses and respects such values. The four alter-values of interest, intrinsic, production-related, supply chain related, and emotio-cultural values, were discussed in the context of changing food environments, and a visualization of the typology was presented to explain them. By focusing especially on intrinsic and emotio-cultural values, an adaptation of the current food environment beyond pecuniary-based emphasis was possible. Such an approach helps to challenge the structure of the conventional food system towards a more citizen-driven sustainable model, altering priorities, with a drive towards embedding values and going beyond perceiving food only in terms of exchange value, to considering food as a vital aspect of life. Full article
(This article belongs to the Special Issue Contemporary Issues in Applied Economics and Sustainability)
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17 pages, 606 KiB  
Essay
Research on Platform Operation Strategy Considering Consumers’ Hassle Costs
by Huixin Liu, Fang Liu and Feng Du
Sustainability 2022, 14(5), 2634; https://0-doi-org.brum.beds.ac.uk/10.3390/su14052634 - 24 Feb 2022
Viewed by 1445
Abstract
Based on consumers’ different preferences for hassle costs, we study two platform operation strategies: selected platforms and diversified platforms. Considering diverse charging systems of merchants on the platform, a two-sided user utility function and profit function are established to examine the influence of [...] Read more.
Based on consumers’ different preferences for hassle costs, we study two platform operation strategies: selected platforms and diversified platforms. Considering diverse charging systems of merchants on the platform, a two-sided user utility function and profit function are established to examine the influence of hassle costs, platform services and the strength of two-sided network effects on the scale of platform users, and platforms’ profits and price. The results show that: (1) The selected platform strategy adopting the transaction fee system is better than other strategies. (2) Under the selected platform strategy, the scale of bilateral users and platform profits will decrease with the increase in hassle costs, and increase with the strengthening of the bilateral network effects. However, the proportion of equilibrium pricing for merchants will increase with the increase in consumer hassle costs, and will decrease with the increase in the network effect on the consumer side. (3) The less value-added services that selected platforms provide to consumers, the more value-added services exist to merchants and the higher the equilibrium pricing is for merchants. However, as the network effect on the side of merchants is increasing, the equilibrium pricing ratio of the platform to merchants shows three trends However, the general trend is that the greater the network effect of the business side, the lower the fee ratio and the higher the platform profit. Full article
(This article belongs to the Special Issue Contemporary Issues in Applied Economics and Sustainability)
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