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Sustainable Economic Growth and Renewable Transition in the Period of COVID-19

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A special issue of Sustainability (ISSN 2071-1050). This special issue belongs to the section "Energy Sustainability".

Deadline for manuscript submissions: closed (31 December 2021) | Viewed by 29257

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Dr. Alexey Mikhaylov

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Guest Editor

Financial University under the Government of the Russian Federation, 125167 Moscow, Russia
Interests: machine learning; sustainability; metal composites; financial markets; energy
Special Issues, Collections and Topics in MDPI journals

Special Issue Information

Dear Colleagues,

This Special Issue will focus on renewable energy supplies and COVID-19 measures based on official statistics on energy and the spread of the virus around the world. It is apparent that various restrictive strategies have changed sustainable demand for renewable energy and led to a drop in economic growth, as well as slowing the growth of COVID-19 infections in 2020. It is unknown to what extent the observed slowdown in spread from March 2020 to December 2020 was due to the impact of policies as opposed to interactions between the virus and the external environment. This Special Issue calls for papers about the interactions important for ensuring an in-depth analysis of renewable energy strategies that enable young researchers to get involved and be fully on board for the future directions of renewable energy strategies in these countries. The formulation of a renewable energy sector’s strategy requires a set of factors to be investigated through multi-dimensional approaches to ensure that the energy mix is addressed well; to recognize a viable strategic roadmap (realized, shared, learning, false, and hidden types of strategy); to align the nature of strategies with scope (competitive strategy, corporate strategy, business strategy, functional strategy, and operating strategy); to define models of application (entrepreneurial model, adaptive model, planning model, etc.); and, finally, to realize an effective relationship among the pillars of sustainability (environmental, technical, economic, institutional, and social). These challenges are related to technology and also environmental, societal, economic, and financial tools as well as process management; these are all of interest for this Special Issue.

Dr. Alexey Mikhaylov
Guest Editor

Manuscript Submission Information

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Keywords

economic growth
sustainability
renewable energy
financial markets
energy

Published Papers (9 papers)

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Research

15 pages, 4030 KiB

Open AccessArticle

Effect of the COVID-19 Pandemic on Renewable Energy Firm’s Profitability and Capitalization

by Zaffar Ahmed Shaikh, Polina Datsyuk, Laura M. Baitenova, Larisa Belinskaja, Natalia Ivolgina, Gulmira Rysmakhanova and Tomonobu Senjyu

Sustainability 2022, 14(11), 6870; https://0-doi-org.brum.beds.ac.uk/10.3390/su14116870 - 04 Jun 2022

Cited by 6 | Viewed by 2547

Abstract

The COVID-19 pandemic has led many governments to impose restrictive measures that have contributed to a decline in the demand for goods and services, leading to an economic crisis. This study proves a novelty that implies a rise in the capitalization of renewable energy companies during the coronavirus pandemic. The study is based on the hypothesis that, at a time of economic crisis, the prospect of investing in clean energy has increased, through the need to protect the environment and ensure clean air. The analysis provided additional results that there is an inverse relationship between two economic indicators of firms, namely, the percentage change in profitability and capitalization of firms between 2020 and 2021. Analysis of data from companies included in TRBC Industry Name Renewable Fuels provided numerical results that show an average increase in firms’ capitalization of 86%. The study uses analysis techniques such as covariance and correlation. The results show an increase in capitalization of renewable energy companies by 150%, while there is a decrease in income by 2%. However, the capitalization of fossil fuel companies has increased, with an average growth rate of 35%. This situation in the fossil energy market is that company revenues fell by 32% while capitalization increased by 35%. It proves a bubble in the non-renewable energy market. This paper suggests that the period of coronavirus infection has seen a slowdown in economic growth in many countries around the world, but a switch to renewable energy will help improve the quality of life of the population and ensure economic growth. Full article

(This article belongs to the Special Issue Sustainable Economic Growth and Renewable Transition in the Period of COVID-19)

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13 pages, 1037 KiB

Open AccessArticle

Financial Stability in Companies with High ESG Scores: Evidence from North America Using the Ohlson O-Score

by Anton Lisin, Andrei Kushnir, Alexey G. Koryakov, Natalia Fomenko and Tatyana Shchukina

Sustainability 2022, 14(1), 479; https://0-doi-org.brum.beds.ac.uk/10.3390/su14010479 - 03 Jan 2022

Cited by 20 | Viewed by 6340

Abstract

The benefits and advantages of the incorporation of ESG (Environmental, Social, Governing)-related policies have been discussed extensively. However, research articles focus not only on the socioecological aspects of Corporate Social Responsibility (CSR) but also on the underlying effects on a corporation’s corporate financial performance (CFP). In this regard, the current study aims to analyze the impact of ESG parameters on corporations’ financial stability. A sample size of 691 companies in North American countries was investigated in order to test the hypothesis that ESG has an effect on the likelihood of a company going bankrupt using the Ohlson O-score. This is conducted using regression models and the Pearson correlation coefficient. Furthermore, a follow-up hypothesis on the relationship between firm size and ESG is also tested in order to evaluate a tendency of corporate growth through ESG-based sustainable development. The results of the study conclude that the governing pillar of ESG factors has the highest positive impact on corporations’ financial success. Furthermore, the analysis conducted in the study with its sample size confirms the hypothesis that larger firms tend to have higher ESG scores. Full article

(This article belongs to the Special Issue Sustainable Economic Growth and Renewable Transition in the Period of COVID-19)

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18 pages, 981 KiB

Open AccessArticle

Digital Echelons and Interfaces within Value Chains: End-to-End Marketing and Logistics Integration

by Sergey Evgenievich Barykin, Elena Aleksandrovna Smirnova, Dan Chzhao, Irina Vasilievna Kapustina, Sergey Mikhailovich Sergeev, Yuri Yurievich Mikhalchevsky, Alexander Viktorovich Gubenko, Gennady Aleksanrovich Kostin, Elena De La Poza Plaza, Lilya Saychenko and Nikita Moiseev

Sustainability 2021, 13(24), 13929; https://0-doi-org.brum.beds.ac.uk/10.3390/su132413929 - 16 Dec 2021

Cited by 18 | Viewed by 2922

Abstract

The goals of real business in the context of the digital transformation of international logistics networks and marketing channels have necessitated the application of a scientifically based theoretical approach to the development of a formalized description acceptable for predictive planning based on leading indicators. In the context of globalization and interstate and regional economic unions, this will lead to achieving the maximum end-to-end integration of digital platforms. Based on the analysis, the article presents the integration of digital logistics and marketing approaches with the mathematical models of the ecosystem organization of economic relations. The features of the organization of economic relations between contractors involved in the execution of virtual transactions and the material movement of resources were analyzed. The researchers considered prerequisites for the analytical description of interconnections between the participants of digital platforms in cross border e-commerce. The authors’ approach is based on the idea of both a sales funnel in marketing and a conversion funnel in digital transformation. Considering the integration of logistics and marketing, authors offer the definition of business echelons as stages of the consumer value creation. The theoretical contribution of this article consists in constructing a mathematical description of business echelons along the entire value chain. The developed analytical description of business echelons is acceptable both for embedding a digital management support system into various software products, and for conducting in-depth analysis and finding optimal solutions. Full article

(This article belongs to the Special Issue Sustainable Economic Growth and Renewable Transition in the Period of COVID-19)

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15 pages, 279 KiB

Open AccessArticle

Evaluation of Strategies to Improve the Corporate Social Responsibility Performance in Food and Pharmaceutical Industries: Empirical Evidence from Iran

by Sara Mehrab Daniali, Sergey Evgenievich Barykin, Mostafa Ghanbari Ghalerodkhani, Andrey Viktorovich Kharlamov, Tatiana Lvovna Kharlamova, Oksana Vladimirovna Savvina and Diana Igorevna Stepanova

Sustainability 2021, 13(22), 12569; https://0-doi-org.brum.beds.ac.uk/10.3390/su132212569 - 14 Nov 2021

Cited by 2 | Viewed by 1995

Abstract

Since there is a lack of a strong CSR platform in the Iranian corporate environment, especially in the food and pharmaceutical industries, the proposed and existing strategies can be utilized to empower employees and the general public, improve executive processes, improve quality and customer satisfaction, and finally, organize financial and accounting reports. Hence, this study seeks to determine and evaluate strategies to improve the concepts and domain of corporate social responsibility (CSR) of food and pharmaceutical industries in Iran based on the requirements of sustainable development theory. This study analyzes the data of 22 companies active in the food and pharmaceutical industries listed on the Tehran Stock Exchange (TSE) over a period of six years (2014–2019). Eighty-three indicators were used to evaluate the performance of social responsibility based on economic, social and environmental dimensions. The Pareto approach has been used to determine the most important unmet current requirements. Then, using the Delphi method and content validity, appropriate strategies were determined. Finally, a correlation matrix was used to determine the most important and comprehensive strategies. Findings showed that 14 requirements in the field of corporate social responsibility are of great importance and with six strategies, the necessary measures to meet those requirements can be covered. Full article

(This article belongs to the Special Issue Sustainable Economic Growth and Renewable Transition in the Period of COVID-19)

17 pages, 1046 KiB

Open AccessArticle

Role of Islamic Banking during COVID-19 on Political and Financial Events: Application of Impulse Indicator Saturation

by Ghulam Ghouse, Aribah Aslam and Muhammad Ishaq Bhatti

Sustainability 2021, 13(21), 11619; https://0-doi-org.brum.beds.ac.uk/10.3390/su132111619 - 21 Oct 2021

Cited by 7 | Viewed by 2537

Abstract

This paper attempts to detect the unavoidable impacts of COVID-19 on geopolitical and financial events related to Islamic banking and the finance sector in Pakistan. It considers only those major events that triggered imbalances in the equity prices of selected Islamic banks. Employed here is the GARCH model, used to predict the volatility series using daily data from January 2007 to July 2020. The Impulse Indicator Saturation (IIS) helps to identify the structural breaks due to COVID-19, as well as the effects of political and financial events on the returns and volatility series of Islamic banks. The results indicate that all the events due to COVID-19 are significant. While 19 out of 21 political and financial events impacted the returns and volatility series, there were only 2 political events out of 18 that showed no significant effect on the returns and the volatility series. The state’s and Islamic banks’ policymakers can use these results to build an effective and sustainable financial policy regarding Islamic finance and the banking sector. Full article

(This article belongs to the Special Issue Sustainable Economic Growth and Renewable Transition in the Period of COVID-19)

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19 pages, 290 KiB

Open AccessArticle

Digital Logistics Platforms in the BRICS Countries: Comparative Analysis and Development Prospects

by Sergey Evgenievich Barykin, Irina Vasilievna Kapustina, Elena Viktorovna Korchagina, Sergey Mikhailovich Sergeev, Vladimir Konstantinovich Yadykin, Almakul Abdimomynova and Diana Stepanova

Sustainability 2021, 13(20), 11228; https://0-doi-org.brum.beds.ac.uk/10.3390/su132011228 - 12 Oct 2021

Cited by 7 | Viewed by 3029

Abstract

The BRICS Group unites the most rapidly developing large countries, the trade and economic interaction between which can make a significant contribution to both the region’s and world’s development. The purpose of this article is to analyze the development of trade and economic interaction and logistics infrastructure in the BRICS countries, as well as to develop an analytical concept of the BRICS Digital Logistics Platform (DLP) as a tool for the BRICS development. The research methodology includes methods for statistical data analysis, a case study of the DLP development in the BRICS countries, an analysis of the existing definitions and methods for developing DLP, and methods of systemic analysis. The research results present the trade and logistics interaction between the BRICS countries. The level of logistics development in these countries is analyzed based on the World Bank Logistics Performance Index. The article highlights the existing restrictions for the expansion of the economic interaction between countries, one of which is the uneven development of the logistics infrastructure. The article states that the BRICS DLP can be a tool for overcoming the limitation of uneven logistics infrastructure and intensifying trade interaction between the BRICS countries. The experience of creating national DLPs in each of the BRICS countries is analyzed. It is shown that the BRICS countries cannot join one of the existing national DLPs because of the risks for the national sovereignty of the participants. Therefore, an original analytical description for the international BRICS DLP is proposed. It will focus on the simplicity and transparency of the interaction between all of the participants of trade and economic interactions at various levels, as well as on the reduction of economic and logistics risks. Full article

(This article belongs to the Special Issue Sustainable Economic Growth and Renewable Transition in the Period of COVID-19)

16 pages, 945 KiB

Open AccessArticle

Global Challenges of Digital Transformation of Markets: Collaboration and Digital Assets

by Vladimir Yadykin, Sergey Barykin, Vladimir Badenko, Nikolai Bolshakov, Elena de la Poza and Alexander Fedotov

Sustainability 2021, 13(19), 10619; https://0-doi-org.brum.beds.ac.uk/10.3390/su131910619 - 24 Sep 2021

Cited by 9 | Viewed by 2521

Abstract

Cyber-physical system (CPS) and digital twin (DT) technologies are the key enablers of smart manufacturing. The main idea of CPS is to build bi-directional interaction channels between the physical and cyber worlds. The research gap is ontological consideration of the concept of the digital object (DO) as a representation of a physical object (PO) in the digital space/world. The objective of this study is an ontological analysis of the digital object (DO). This object is fairly well-understood from a technical point of view; although there are many options for its definition, its basic composition and functionality are defined clearly, but currently in the economic science DO has not yet been enough considered. The DO, which first appeared as a digital twin has not been properly explored by economic science. Authors attempt to determine whether all the properties and characteristics of the DO are described by modern economic language or whether there is a need to introduce new concepts and categories to describe such objects. The ontological analysis of the DO within the existing conceptual framework of economic science is presented. The result of the research is comprehensive study of DO which allows the consideration of the additional benefits that economic actors can gain from using the DO. We propose to analyze the DO in terms of such economic categories as goods; innovation process; the system of division of labor; the role of market participants in the creation and use of the DO; intellectual property; etc. Full article

(This article belongs to the Special Issue Sustainable Economic Growth and Renewable Transition in the Period of COVID-19)

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17 pages, 315 KiB

Open AccessArticle

Sustainability of Management Decisions in a Digital Logistics Network

by Sergey Evgenievich Barykin, Larisa Nikolaevna Borisoglebskaya, Vyacheslav Vasilyevich Provotorov, Irina Vasilievna Kapustina, Sergey Mikhailovich Sergeev, Elena De La Poza Plaza and Lilya Saychenko

Sustainability 2021, 13(16), 9289; https://0-doi-org.brum.beds.ac.uk/10.3390/su13169289 - 18 Aug 2021

Cited by 25 | Viewed by 2331

Abstract

Globalization has given a powerful impetus to the development of international commercial activity and logistics management systems taking full advantage of cross-border networking. The solution lies at the intersection of information technologies, technical means of machine-to-machine (M2M) interaction, mobile high-speed networks, geolocation, cloud services, and a number of international standards. The current trend towards creating digital logistics platforms has set a number of serious challenges for developers. The most important requirement is the condition of sustainability of the obtained solutions with respect to disturbances in the conditions of logistics activities caused not only by market uncertainty but also by a whole set of unfavorable factors accompanying the transportation process. Within the framework of the presented research, the problem of obtaining the conditions for the stability of solutions obtained on the basis of mathematical models is set. At the same time, the processes of transferring not only discrete but also continuous material flows through complex structured networks are taken into account. This study contains the results of the analysis of the stability of solutions of differential systems of various types that simulate the transfer processes in network media. Initial boundary value problems for evolutionary equations and differential-difference systems are relevant in logistics, both for the discrete transportation of a wide range of goods and for the quasi-continuous transportation of, for example, liquid hydrocarbons. The criterion for the work of a logistics operator is the integral functional. For the mathematical description of the transport process of continuous and discrete media, a wide class of integrable functions are used, which adequately describe the transport of media with a complex internal rheological structure. Full article

(This article belongs to the Special Issue Sustainable Economic Growth and Renewable Transition in the Period of COVID-19)

15 pages, 3855 KiB

Open AccessArticle

Renewable Energy Deployment and COVID-19 Measures for Sustainable Development

by Miraj Ahmed Bhuiyan, Jaehyung An, Alexey Mikhaylov, Nikita Moiseev and Mir Sayed Shah Danish

Sustainability 2021, 13(8), 4418; https://0-doi-org.brum.beds.ac.uk/10.3390/su13084418 - 15 Apr 2021

Cited by 57 | Viewed by 3534

Abstract

The main goal of this study is to evaluate the impact of restrictive measures introduced in connection with COVID-19 on consumption in renewable energy markets. The study will be based on the hypothesis that similar changes in human behavior can be expected in the future with the further spread of COVID-19 and/or the introduction of additional quarantine measures around the world. The analysis also yielded additional results. The strongest reductions in energy generation occurred in countries with a high percentage (more than 80%) of urban population (Brazil, USA, the United Kingdom and Germany). This study uses two models created with the Keras Long Short-Term Memory (Keras LSTM) Model, and 76 and 10 parameters are involved. This article suggests that various restrictive strategies reduced the sustainable demand for renewable energy and led to a drop in economic growth, slowing the growth of COVID-19 infections in 2020. It is unknown to what extent the observed slowdown in the spread from March 2020 to September 2020 due to the policy’s impact and not the interaction between the virus and the external environment. All renewable energy producers decreased the volume of renewable energy market supply in 2020 (except China). Full article

(This article belongs to the Special Issue Sustainable Economic Growth and Renewable Transition in the Period of COVID-19)

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