Editorial

4 pages, 193 KiB

Open AccessEditorial

Sustainable Economy in Light of COVID-19

by Darko Vukovic, Moinak Maiti and Michael Frömmel

Sustainability 2022, 14(9), 5363; https://0-doi-org.brum.beds.ac.uk/10.3390/su14095363 - 29 Apr 2022

Cited by 1 | Viewed by 995

Two years after the onset of the COVID-19 pandemic, the economy has adapted to the new market conditions that coexist with this global phenomenon [...] Full article

(This article belongs to the Special Issue The Influence of COVID-19 on Sustainable Economy)

Research

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17 pages, 638 KiB

Open AccessArticle

Understanding the Survival Ability of Franchise Industries during the COVID-19 Crisis in Malaysia

by Nurul Ashykin Abd Aziz, Mohd Hizam-Hanafiah, Hasif Rafidee Hasbollah, Zuraimi Abdul Aziz and Nik Syuhailah Nik Hussin

Sustainability 2022, 14(6), 3212; https://0-doi-org.brum.beds.ac.uk/10.3390/su14063212 - 09 Mar 2022

Cited by 7 | Viewed by 3886

Abstract

Since the world was hit by the COVID-19 pandemic crisis that began in December 2019, many industries have been affected, including the franchise industry in Malaysia. Thus, the COVID-19 pandemic has had a great impact on business survival. Direct effects can be seen [...] Read more.

Since the world was hit by the COVID-19 pandemic crisis that began in December 2019, many industries have been affected, including the franchise industry in Malaysia. Thus, the COVID-19 pandemic has had a great impact on business survival. Direct effects can be seen in reduced income, job losses, changes in customer preferences, and business relationships between franchisors and franchisees. Some franchises have had to close their operations, and others still struggled to survive during the pandemic crisis. In addressing this situation, the role of government is crucial in supporting the resilience of these franchisor entrepreneurs in an increasingly worrisome situation around the world. However, the existing literature that focuses on the role of government in developing countries such as Malaysia is still poorly understood. In addition, a study of the Malaysian franchising industry during the pandemic crisis is still inadequate, especially concerning the government’s role in the survival of local franchises during the pandemic era. Therefore, understanding the role of the government in advocating the survival of local Malaysian franchises is worth studying. A qualitative research approach was applied through multiple cases involving twelve (12) franchise business owners and four (4) franchise-related agencies in Malaysia. In-depth interviews were conducted in exploring this topic. Thematic analysis has been used by applying “Atlas.ti” in analysing the data. Hence, the findings have indicated four themes from the grounded data. There are: (i) financial assistance; (ii) virtual franchise exhibition; (iii) training and support; and (iv) business development grants. This study is expected to highlight the role of government as well as agencies involved with the franchising industry in improving policies, strategies, and programs to ensure the viability of the franchise industry during periods of pandemic outbreaks. Full article

(This article belongs to the Special Issue The Influence of COVID-19 on Sustainable Economy)

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17 pages, 2598 KiB

Open AccessArticle

COVID-19 Pandemic: Is the Crypto Market a Safe Haven? The Impact of the First Wave

by Darko Vukovic, Moinak Maiti, Zoran Grubisic, Elena M. Grigorieva and Michael Frömmel

Sustainability 2021, 13(15), 8578; https://0-doi-org.brum.beds.ac.uk/10.3390/su13158578 - 31 Jul 2021

Cited by 34 | Viewed by 5869 | Correction

Abstract

The present study investigated whether the crypto market is a safe haven. The study argues that during the first wave of the COVID-19 crisis, gold and oil, as typical global commodities, could have been diversifiers. The study developed a unique COVID-19 global composite [...] Read more.

The present study investigated whether the crypto market is a safe haven. The study argues that during the first wave of the COVID-19 crisis, gold and oil, as typical global commodities, could have been diversifiers. The study developed a unique COVID-19 global composite index that measures COVID-19 pandemic time-variant movements on each day. The study used OLS (ordinary least squares), quantile, and robust regressions to check whether the COVID-19 crisis has had any significant direct influence on the crypto market. The OLS, quantile, and robust regressions estimates confirmed that there was no statistically significant direct influence of the COVID-19 crisis on the crypto market in the first wave period. However, the study found spillovers from risky assets (S&P 500) on the crypto market, with Tether as an exception. Due to this special characteristic, Tether might present a safe haven within the crypto market. Full article

(This article belongs to the Special Issue The Influence of COVID-19 on Sustainable Economy)

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12 pages, 262 KiB

Open AccessArticle

The Asymmetric Impact of Funding Liquidity Risk on the Volatility of Stock Portfolios during the COVID-19 Crisis

by Baris Kocaarslan and Ugur Soytas

Sustainability 2021, 13(4), 2286; https://0-doi-org.brum.beds.ac.uk/10.3390/su13042286 - 20 Feb 2021

Cited by 7 | Viewed by 2423

Abstract

In this study, we identify economic transmission channels through which changes in funding liquidity conditions in interbank markets asymmetrically affect volatilities of stock portfolios during the COVID-19 crisis. For the purpose of this study, the quantile regression approach is utilized. Controlling for macroeconomic [...] Read more.

In this study, we identify economic transmission channels through which changes in funding liquidity conditions in interbank markets asymmetrically affect volatilities of stock portfolios during the COVID-19 crisis. For the purpose of this study, the quantile regression approach is utilized. Controlling for macroeconomic factors, we document that volatilities of high-risk portfolios increase more in response to a deterioration in funding liquidity conditions compared to less risky portfolios. More importantly, this increase intensifies in high-volatility periods of high-risk portfolios, which implies the impact is stronger during uncertain economic environments, such as the one caused by the COVID-19 outbreak. Full article

(This article belongs to the Special Issue The Influence of COVID-19 on Sustainable Economy)

18 pages, 1349 KiB

Open AccessArticle

Transforming the COVID-19 Threat into an Opportunity: The Pandemic as a Stage to the Sustainable Economy

by Ionica Oncioiu, Ioana Duca, Mirela Anca Postole, Georgiana Camelia Georgescu (Crețan), Rodica Gherghina and Robert-Adrian Grecu

Sustainability 2021, 13(4), 2088; https://0-doi-org.brum.beds.ac.uk/10.3390/su13042088 - 16 Feb 2021

Cited by 14 | Viewed by 3401

Abstract

The aim of this research is to assess the impact of the economic shocks of supply and demand generated by the COVID-19 crisis on the climate sphere at the level of the Member States of the European Union. In this respect, a macroeconomic [...] Read more.

The aim of this research is to assess the impact of the economic shocks of supply and demand generated by the COVID-19 crisis on the climate sphere at the level of the Member States of the European Union. In this respect, a macroeconomic model was used to obtain firstly an estimate of the measure of demand shock and secondly an estimate of the supply of the economy. These milestones were eventually used to estimate the impact of the two economic shocks on the level of greenhouse gas emissions. The obtained results show that both the shock from the aggregate demand area and that from the aggregate supply area had the effect of decreasing the level of greenhouse gases, leading to a positive effect on the environment. From a quantitative point of view, the model estimates show that, as a result of the manifestation of the two cumulative shocks, the level of greenhouse gas emissions could decrease by about 10%. Full article

(This article belongs to the Special Issue The Influence of COVID-19 on Sustainable Economy)

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16 pages, 853 KiB

Open AccessArticle

Can We Have Our Cake and Eat It? A Review of the Debate on Green Recovery from the COVID-19 Crisis

by Ema Gusheva and Vincent de Gooyert

Sustainability 2021, 13(2), 874; https://0-doi-org.brum.beds.ac.uk/10.3390/su13020874 - 16 Jan 2021

Cited by 22 | Viewed by 5089

Abstract

As we speed through the development and distribution of a vaccine for the COVID-19 pandemic, economies are suffering through the worst decline of the century while, at the same time, being pushed to comply with global agreements regarding climate change. Because of this, [...] Read more.

As we speed through the development and distribution of a vaccine for the COVID-19 pandemic, economies are suffering through the worst decline of the century while, at the same time, being pushed to comply with global agreements regarding climate change. Because of this, the economic downturn is also seen as an opportunity to speed up the sustainability transition or, in simple terms, to achieve a “green recovery”. What can we expect from a green recovery? We address this question by reviewing position documents in the debate between green recovery and its opponent, “quick rebound”, in the Netherlands. We apply systems thinking to model causal arguments regarding key concepts comprising green recovery and identify issues of consensus and dissensus. Our findings indicate that green recovery is promising for curbing greenhouse gas emissions and addressing growing socioeconomic inequalities. However, the position of what green recovery means for economic growth, including the development of gross domestic product and employment, is still largely unclear and at times contradictory. While some see tradeoffs, others suggest that economic growth and sustainability goals can be achieved simultaneously. Thus, we conclude by reflecting on the question: Can we have our cake and eat it? Full article

(This article belongs to the Special Issue The Influence of COVID-19 on Sustainable Economy)

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22 pages, 695 KiB

Open AccessArticle

Dismissals and Temporary Leaves in Romanian Companies in the Context of Low Demand and Cash Flow Problems during the COVID-19 Economic Lockdown

by Elena-Sabina Turnea, Ștefan Andrei Neștian, Silviu Mihail Tiță, Ana Iolanda Vodă and Alexandra Luciana Guță

Sustainability 2020, 12(21), 8850; https://0-doi-org.brum.beds.ac.uk/10.3390/su12218850 - 25 Oct 2020

Cited by 11 | Viewed by 4697

Abstract

The aim of this study is to describe the relations between low demand, cash flow problems, employee dismissals, and temporary leaves experienced by Romanian companies during the economic lockdown in the first two months of the COVID-19 pandemic outbreak in Romania (16 March–16 [...] Read more.

The aim of this study is to describe the relations between low demand, cash flow problems, employee dismissals, and temporary leaves experienced by Romanian companies during the economic lockdown in the first two months of the COVID-19 pandemic outbreak in Romania (16 March–16 May 2020). For this purpose, we conducted a quantitative study using descriptive, correlation, and regression analyses applied to data collected from company decision-makers. Our results show that demand for products/services and cash flow in companies has decreased significantly, the workforce being affected by dismissals and temporary leaves/furloughing. Additionally, the average linear revenue of companies has been decreasing due to insufficient cash flow, higher absenteeism of workers, customers having been affected, and the demand going down. Therefore, employee dismissals, employee temporary leaves (furlough), and dismissal intentions have been positively correlated with insufficient cash flow in companies and an extremely low demand. Full article

(This article belongs to the Special Issue The Influence of COVID-19 on Sustainable Economy)

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12 pages, 292 KiB

Open AccessArticle

What Drives Stocks during the Corona-Crash? News Attention vs. Rational Expectation

by Nils Engelhardt, Miguel Krause, Daniel Neukirchen and Peter Posch

Sustainability 2020, 12(12), 5014; https://0-doi-org.brum.beds.ac.uk/10.3390/su12125014 - 19 Jun 2020

Cited by 27 | Viewed by 6151

Abstract

We explore if the corona-crash 2020 was driven by news attention or rational expectations about the pandemic’s economic impact. Using a sample of 64 national stock markets covering 94% of the world’s GDP, we find the stock markets’ decline to be mainly associated [...] Read more.

We explore if the corona-crash 2020 was driven by news attention or rational expectations about the pandemic’s economic impact. Using a sample of 64 national stock markets covering 94% of the world’s GDP, we find the stock markets’ decline to be mainly associated with higher news attention and less with rational expectation. We estimate the economic cost from the news hype to amount to USD 3.5 trillion for the US and USD 200 billion on average for the rest of the G8 countries. Full article

(This article belongs to the Special Issue The Influence of COVID-19 on Sustainable Economy)

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Other

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3 pages, 161 KiB

Open AccessCorrection

Correction: Vukovic et al. COVID-19 Pandemic: Is the Crypto Market a Safe Haven? The Impact of the First Wave. Sustainability 2021, 13, 8578

by Darko Vukovic, Moinak Maiti, Zoran Grubisic, Elena M. Grigorieva and Michael Frömmel

Sustainability 2021, 13(22), 12484; https://0-doi-org.brum.beds.ac.uk/10.3390/su132212484 - 12 Nov 2021

Cited by 1 | Viewed by 1208

Abstract

The authors would like to make the following corrections to the published paper [...] Full article

(This article belongs to the Special Issue The Influence of COVID-19 on Sustainable Economy)

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