Food security is the cornerstone that ensures the stable development of a country. Based on panel data of 31 provinces (including autonomous regions and municipalities) in China from 2015 to 2019, we use the mediating effect model to explore the mechanism by which food consumption structure affects food security. The results indicate that grain consumption has a significant promoting effect on food security, while plant and animal food consumption have significant inhibiting effects on food security. Furthermore, agricultural R&D and investment play mediating roles in the impact of food consumption structure on food security. Obvious differences exist in the relationship between food consumption structure and food security between urban and rural areas, as well as between Eastern, Central, and Western regions. Animal food consumption had a negative and significant impact on food security, with a stronger effect on rural residents than on urban residents. Compared with the central and western regions, grain consumption and animal food consumption in the eastern region had a stronger marginal impact on food security. This paper enriches and expands the research on influencing factors of food security from the perspective of consumer demand, which has important theoretical value and practical significance for ensuring food security.
Sustainable crowdfunding has emerged as a significant factor in the quest for alternative funding streams in recent times. The process has entailed the removal of financial obstacles and intermediaries, facilitating proximity between entrepreneurs' initiatives and fund providers, thereby initiating modifications in conventional investment and profitability criteria. The correlation between corporate social responsibility (CSR) and sustainable business returns is a significant metric that may enhance funding costs. CSR initiatives and crowdfunding possess the potential for mutually beneficial outcomes in terms of fundraising. However, fundraisers encounter obstacles and competition in their efforts to attain their donation objectives. As an illustration, CSR endeavors may provide a chance to raise capital via crowdfunding. Conversely, crowdfunding has the potential to serve as a means of micro-funding various social initiatives that align with a corporation's corporate social responsibility objectives. The present research investigates the correlation between efficacious donation fundraising campaigns in the context of crowdfunding endeavors that hold the possibility of transforming into corporate social responsibility initiatives. The present study investigates the correlation between the initial amount of funds raised on the first day of a fundraising campaign and the target amount of funds sought by the fundraiser, as well as the type of activities involved. The present study utilizes data derived from crowdfunding endeavors in Southeast Asian nations to scrutinize the funds amassed through donations by juxtaposing trends, cultures, and characteristics of fundraisers employing donation-based crowdfunding. The present investigation employs data collected between the period spanning from the beginning of September 2021 to the end of September 2021 in the economies of Southeast Asia, including Singapore, Indonesia, Malaysia, Thailand, and the Philippines. The present investigation utilizes the partial least squares structural equation modeling (PLS-SEM) approach for the estimation of the variables. The findings of the hypothesis indicate that there exists a positive correlation between crowdfunding, environmental nonprofit organizations, organizational profitability, and CSR.
Global economies have recently been concerned about sustainable environmental management by reducing emissions and tackling ecological footprints. The rapid economic expansion and investment in traditional manufacturing further raises environmental degradation. China surpasses other emerging economies in the economic growth race yet has remained the top pollution-emitting economy for the last few decades, necessitating scholarly attention. This study examines the influencing factors of ecological footprints in China from the perspective of COP27. Using the extended dataset from 1988 to 2021, this study uses several time series diagnostic tests and verifies the existence of the long-run association between the study variables. Consequently, the non-linear scattered data leads to non-parametric (method of moment quantile regression) adoption. The empirical results indicate that only economic growth is a significant factor in environmental quality degradation in China. However, improving renewable energy usage, research and development, and foreign direct investment reduces the country's ecological footprint. Hence, the latter variables substantially lead to environmental sustainability. The robustness of the results is confirmed via a robust non-parametric estimator and causality test. Based on the empirical results, this study recommends increased investment in research and development, renewable production, and foreign direct investment enhancement.
The fast-growing urbanization has contributed to the construction sector be- coming one of the major sectors traded in the world stock market. In general, non- stationarity is highly related to most of the stock market price pattern. Even though stationarity transformation is a common approach, yet this may prompt to originality loss of the data. Hence, the non-transformation technique using a generalized dynamic principal component (GDPC) were considered for this study. Comparison of GDPC was performed with two transformed principal component techniques. This is pertinent as to observe a larger perspective of both techniques. Thus, the latest weekly two-years observations of nine constructions stock market price from seven different countries were applied. The data was tested for stationarity before performing the analysis. As a re- sult, the mean squared error in the non-transformed technique shows eight lowest values. Similarly, eight construction stock market prices had the highest percentage of explained variance. In conclusion, a non-transformed technique can also present a better result outcome without the stationarity transformation.
The objective of this research is to examine the trends in the exchange rate markets of the ASEAN-5 countries (Indonesia (IDR), Malaysia (MYR), the Philippines (PHP), Singapore (SGD), and Thailand (THB)) through the application of dynamic moving average trading systems. This research offers evidence of the usefulness of the time-varying volatility technical analysis indicator, Adjustable Moving Average (AMA') in deciphering trends in these ASEAN-5 exchange rate markets. This time-varying volatility factor, referred to as the Efficacy Ratio in this paper, is embedded in AMA'. The Efficacy Ratio adjusts the AMA' to the prevailing market conditions by avoiding whipsaws (losses due, in part, to acting on wrong trading signals, which generally occur when there is no general direction in the market) in range trading and by entering early into new trends in trend trading. The efficacy of AMA' is assessed against other popular moving-average rules. Based on the January 2005 to December 2014 dataset, our findings show that the moving averages and AMA' are superior to the passive buy-and-hold strategy. Specifically, AMA' outperforms the other models for the United States Dollar against PHP (USD/PHP) and USD/THB currency pairs. The results show that different length moving averages perform better in different periods for the five currencies. This is consistent with our hypothesis that a dynamic adjustable technical indicator is needed to cater for different periods in different markets.
In this paper a class of capital investment problem is considered within the context of mathematical programming. The usual and commonly used approach is presented upon the basis of the next present value criterion, and a branch and bound method is discussed for a model under extended assumptions.
Dalam kertas ini satu kelas masalah pelaburan kapital difikirkan di dalam konteks pengaturcaraan matematik. Pendekatan biasa dan selalu digunakan, dikemukakan berasaskan kriterium Nilai Semasa Berikut dan satu kaedah bercabang dan terbatas dibincangkan untuk satu model di bawah anggapan yang diperluaskan.
This paper presents a fresh understanding of the vigorous connection between inward FDI, renewable energy consumption, economic growth and carbon emission in the Chinese economy employing novel Morlet wavelet analysis. Wavelet correlation, continuous wavelet transform and partial and the multiple wavelet coherence analyses are applied on variables under study for data acquired during the period 1979 to 2017. The outcome of these analyses reveals that the connections among the variables progress over frequency and time. From the frequency domain point of view, the current study discovers noteworthy wavelet coherence and robust lead and lag linkages, although time domain reveals inconsistent associations among the considered variables. The wavelet analysis according to economic point of view supports that inward foreign direct investment (FDI) and renewable energy consumption help to enhance economic condition in Chinese economy. The results also suggested that inward FDI enhances the environmental degradation in medium and long run in China. The results emphasize the significance of having organized strategies by the policymakers to cope with huge environmental degradation occurred for a couple of decades in China.
The BRICS nations-Brazil, Russia, India, China, and South Africa-have grown significantly in importance over the past few decades, playing a vital role in the development and growth of the global economy. This expansion has not been without cost, either, since these countries' concern over environmental deterioration has risen sharply. Both researchers and decision-makers have focused a lot of attention on the connection between economic growth and ecological sustainability. By using nonlinear autoregressive distributed lag (NARDL) approach, the complex relationships were analyzed between important economic indicators-such as gross domestic product (GDP), ecological innovations (EI), energy consumption (ENC), institutional performance (IP), and trade openness (TOP)-and their effect on carbon emissions and nitrous oxide emissions in the BRICS countries from 1990 to 2021, this study seeks to contribute to this important dialog. Principal component analysis is formed for technological innovations and institutional performance using six (ICT service exports as a percentage of service exports, computer communications as a percentage of commercial service exports, fixed telephone subscriptions per 100 people, internet users as a percentage of the population, number of patent applications, and R&D expenditures as a percentage of GDP) and twelve (government stability, investment profile, socioeconomic conditions, internal conflict, external conflict, military in politics, control of corruption, religious tensions, ethnic tensions, law and order, bureaucracy quality, and democratic accountability) distinct indicators, respectively. The results of nonlinear autoregressive distributed lag estimation show that increase in economic growth would increase carbon dioxide and nitrous oxide emissions. The positive and negative shocks in trade openness have positive and significant impact on carbon dioxide and nitrous oxide emissions in BRICS countries. Furthermore, the positive shock energy consumptions have positive and significant effect on Brazil and India when carbon dioxide and nitrous oxide emissions are used. However, EKC exists in BRICS countries when carbon dioxide and nitrous oxide emissions are used. According to long-term estimation, energy consumption and technological innovations in the BRICS countries show a strong and adverse link with nitrous oxide and a favorable relationship with carbon dioxide emissions. In the long run, environmental indicators are seen to have a major and unfavorable impact in BRICS nations. Finally, it is proposed that BRICS nations can assure environmental sustainability if they support creative activities, enhance their institutions, and support free trade policies.
This study examines the issues of winner's curse, size effect and bandwagon effect in explaining the under-pricing phenomenon of Malaysian IPOs, for the period from January 2001 to December 2008. The average initial return for the Malaysian private placement IPOs (a proxy for informed investors) is significantly lower than that of the non-private placement IPOs (a proxy for uninformed investors), which gives support to the winner's curse hypothesis, where uninformed investors demand a higher initial return in the absence of informed investors. Using listing board as proxy for size of companies, we find that the smaller the company, the higher the average initial return, thus giving support to size effect, where investors usually demand higher initial return for smaller companies due to their higher perceived risk. The study also finds that the presence of a large number of informed investors as compared to uninformed investors in an IPO exercise will result in an increase in demand for that particular stock in the secondary market, which gives support to the bandwagon effect.
This study aims to analyze the development trend of the manufacturing industry transformation and upgrading in the Guangdong-Hong Kong-Macao Greater Bay Area (2008-2018). On the basis of synergetics, the order parameter method of factor analysis is used to study these factors. The results show that: (1) There are five slow variable factors, such as intelligent manufacturing industry, technological innovation, scale agglomeration, market demand, and fixed asset investment, which are important power sources of the transformation and upgrading of the manufacturing industry in Greater Bay Area. The development of these factors is relatively mature, and they cooperate with each other. (2) Similar to a fast variable of manufacturing development ecology, green development is an important coordinating factor in removing bottlenecks. Finally, suggestions for the development of the transformation and upgrading of the manufacturing industry are put forward.
The outbreak of COVID-19 has weakened the economy of Australia and its capital market since early 2020. The overall stock market has declined. However, some sectors become highly vulnerable while others continue to perform well even in the crisis period. Given this new reality, we seek to investigate the initial volatility and the sectoral return. In this study, we analyse data for eight sectors such as, transportation, pharmaceuticals, healthcare, energy, food, real estate, telecommunications and technology of the Australian stock market. In doing so, we obtain data from Australian Securities Exchange (ASX) and analysed them based on 'Event Study' method. Here, we use the 10-days window for the event of official announcement of the COVID-19 outbreak in Australia on 27 February 2020. The findings of the study show that on the day of announcement, the indices for food, pharmaceuticals and healthcare exhibit impressive positive returns. Following the announcement, the telecommunications, pharmaceuticals and healthcare sectors exhibit good performance, while poor performance is demonstrated by the transportation industry. The findings are vital for investors, market participants, companies, private and public policymakers and governments to develop recovery action plans for vulnerable sectors and enable investors to regain their confidence to make better investment decisions.
This paper investigates the effect of different categories of essential COVID-19 data from 2020 to 2021 towards stock price dynamics and options markets. It applied the hypothetical method in which investors develop depression based on the understanding suggested by various green finance divisions. Furthermore, additional elements like panic, sentiment, and social networking sites may impact the attitude, size, and direction of green finance, subsequently impacting the security prices. We created new emotion proxies based on five groups of information, namely COVID-19, marketplace, lockdown, banking sector, and government relief using Google search data. The results show that (1) if the proportional number of traders' conduct exceeds the stock market, the effect of sentimentality indexes on jump volatility is expected to change; (2) the volatility index component jump radically increases with the COVID-19 index, city and market lockdown index, and banking index; and (3) expanding the COVID-19 index gives rise to the stock market index. Moreover, all indexes decreased in jump volatility but only after 5 days. These findings comply with the hypotheses proposed by our model.
In the developing world, clinical knowledge management in primary care has a long way to go. Clinical decision support systems, despite its promise to revolutionise healthcare, is slow in its implementation due to the lack of financial investment in information technology. Point-of-care resources, such as comprehensive electronic textbooks delivered via the web or mobile devices, have yet to be fully utilised by the healthcare organisation or individual clinicians. Increasing amount of applicable knowledge of good quality (e.g. clinical practice guidelines and other pre-appraised resources) are now available via the internet. The policy makers and clinicians need to be more informed about the potential benefits and
limitations of these new tools and resources and make the necessary budgetary provision and learn how best to harness them for patient care.
Environmental degradation and ecological devastation have become widespread global concerns in recent years as a result of the expansion of the international economy. China's rapid economic development has been accompanied by a sloppy economic growth model that has damaged the local ecological environment. The Chinese government intends to improve the ecological environment by the end of 2020 in an effort to direct and improve these environmental issues. The strictest environmental laws became effective in 2015. In light of this, this research uses panel data analysis to examine the environmental strategy and environmental governance of Chinese corporations. This article analyses 14,512 samples of listed mainland Chinese enterprises from 2015 to 2020. This research investigates the connection between Corporate Sustainability Development Strategy and Corporate Environmental Governance, as well as the moderating effect of Corporate Environmental Investments.
This study examined the influence of tail risks on global financial markets, which aids in better understanding of the emergence of COVID-19. This study looks at the global and Vietnamese stock markets impacted by the COVID-19 pandemic to identify systemic emergencies. Risk dependent value (CoVaR) and Delta link VaR are two important tail-related risk indicators used in Conditional Bivariate Dynamic Correlation (DCC) (CoVaR). The empirical findings demonstrate that when COVID-19's worldwide spread widens, the volatility transmission of systemic risks across the global stock market and multiple exchanges shifts and becomes more relevant over time. At the time of COVID-19, the world industrial market was larger than the Vietnamese stock market, and the Vietnamese stock market posed a lesser danger to the global market. A closer examination of the link between the Vietnam value-at-risk (VaR) range index sample and the world stock index indicates a significant degree of downside risk integration in key monetary systems, particularly during the COVID-19 era. Our study findings may help regulators, politicians, and portfolio risk managers in Vietnam and worldwide during the unique moment of uncertainty created by the COVID-19 epidemic.
Consumer interest in privately managed urban transport services in Indonesia are showing a declining trend. On the other hand, the presence of Transportation on Demand (ToD) based on Internet of Things (IoT) has attracted the majority of conventional fleet customers which contribute to the declining trend of occupancy. Therefore, this study aims to present a feasibility study of a small car RE60 Three Passenger and One Driver (3P+1D) four-wheeler as an alternative to replace conventional fleets. The Break-Even Point (BEP), Net Present Value (NPV), Internal Rate of Return (IRR), and Payback Period (PP) are analyzed based on vehicle operating data. The analysis shows that there is an additional monthly income flow of IDR 1,533,122 and IDR 2,536,946 from RE60 operations compared to the high and low consumption of fuel from existing fleets, respectively. In conclusion, it is feasible to invest in small car RE60 as a replacement for the existing fleets since the fundamental indicators (BEP, NPV, IRR, and PP) showed positive results before the specified instalment period. Sensitivity analysis also shows good results, NPV shows positive results (>0) although the input conditions are made pessimistic to -30% from NPV base case. The BEP of RE60 will cut distance travelled at 190,670 km and 115,225 km, respectively. NPV of IDR 33,088,000 and IDR 80,841,000 will be obtained at the 60th month after the operation and IRR also enabled good scores, at 2.24% and 4.17%.
Healthcare investment is critically important for the health and well-being of the population, and different health systems are developed to meet the needs and priorities of each country. What has become clear has been that despite major advances in medicine, science and technology, there are major issues related to access and equity as well as quality and patient safety in healthcare services. The issue of patient safety was highlighted by the reports of the Institute of Medicine, USA1,2 and this had received worldwide attention. It is also an irony that despite being in an age of major advances in medicine, science and technology, with the acceptance of evidence-based medicine, so much of medicine and healthcare delivered is of little or no proven value. This poses a major challenge on health policy, and on how this can be addressed in any health reform process that focuses on improving access, equity, efficiency and effectiveness in healthcare services.
Twelve-member countries of the Asia Pacific Economic Cooperation (APEC) are negotiating the Trans-Pacific Partnership Agreement (TPPA), a free trade agreement to facilitate international trade and investment. As reported by multiple sources, the TPPA would grant the same trade benefits and legal protections to tobacco products, services and investments that it would provide to other sectors. Malaysia proposed excluding tobacco control measures from the scope of all TPPA chapters while the US proposed only to establish a consultation process in tobacco-related disputes and to declare that tobacco control measures serve a health objective within the scope of the general exceptions.
Preventive maintenance (PM) planning becomes a crucial issue in the real world of the manufacturing process. It is important in the manufacturing industry to maintain the optimum level of production and minimize its investments. Thus, this paper focuses on multiple jobs with a single production line by considering stochastic machine breakdown time. The aim of this paper is to propose a good integration of production and PM schedule that will minimize total completion time. In this study, a hybrid method, which is a genetic algorithm (GA), is used with the Monte Carlo simulation (MCS) technique to deal with the uncertain behavior of machine breakdown time. A deterministic model is adopted and tested under different levels of complexity. Its performance is evaluated based on the value of average completion time. The result clearly shows that the proposed integrated production with PM schedule can reduce the average completion time by 11.68% compared to the production scheduling with machine breakdown time.
The purpose of this study is to investigate how investor's money attitudes shape their stock market participation (SMP) decisions. This study followed the theory of planned behavior (TPB), and a survey was conducted to collect the responses from active investors. Structural equation modeling (SEM) was used for the analysis of proposed relationships among the constructs, and a confirmatory factor analysis (CFA) was conducted to check the interrelation of the variables and validity of the constructs. This research has concluded that investor's money attitudes are significant to affect their stock market participation decisions. Further, it was found that risk attitudes partially mediate the relationship between money attitudes and stock market participation. Moreover, financial knowledge and financial self-efficacy positively moderated the relationship between money attitudes and stock market participation. This research is one of the early attempts at studying the money attitudes of investors and introduces financial self-efficacy as a moderating construct between money attitudes and stock market participation. The sample size for this study was 250 respondents which can be increased in future research, and the same relationships can be tested by using a larger sample. Moreover, this study has used money attitudes as predictors of stock market participation. Still, many other variables, like personal value, can also be taken to investigate their influence on stock market participation.