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This study aims to analyze the convergence of environmental degradation clubs in the Association of Southeast Asian Nations (ASEAN). In addition, this study also analyzes the influence of renewable energy and foreign direct investment (FDI) on each club as an intervention to change the convergence pattern in each club.

This study analyzes the club convergence of environmental degradation in an effort to find out the distribution of environmental degradation reduction policies. This study uses club convergence with the Phillips and Sul (PS) convergence methodology because it considers multiple steady-states and is robust. This study uses annual panel data from 1998 to 2020 and ASEAN country units with ecological footprints as proxies for environmental degradation. After obtaining the club results, the analysis continued by analyzing the impact of renewable energy and FDI on each club using panel data regression and the Stochastic Impacts by Regression on Population, Affluence and Technology model specification.

Based on club convergence, ASEAN countries can be grouped into three clubs with two divergent countries. Club 1 has an increasing pattern of environmental degradation, while Club 2 and Club 3 show no increase. Club 1 can primarily apply renewable energy to reduce environmental degradation, while Club 2 requires more FDI. The authors expect policymakers to take into account the clubs established to formulate collaborative policies among countries. The result that FDI reduces environmental degradation in this study is in line with the pollution halo hypothesis. This study also found that population has a significant effect on environmental degradation, so policies to regulate population need to be considered. On the other hand, increasing income has no effect on reducing environmental degradation. Therefore, the use of renewable energy and FDI toward green investment is expected to intensify within ASEAN countries to reduce environmental degradation.

This research is by far the first to apply PS Club convergence to environmental degradation in ASEAN. In addition, this study is also the first to analyze the influence of renewable energy and FDI on each club formed, considering the need for renewable energy use that has not been maximized in ASEAN.

The processes of convergence are particularly challenging in the Sub-Saharan African frameworks, considering the diversity of contexts and endogenous particularities. Creating conditions to support these nations to improve their socioeconomic dynamics and performance requires additional contributions from international organisations, governments and the scientific community. In this scenario, this paper aims to analyse the convergence process in Sub-Saharan African countries over the past three decades.

To achieve these objectives, data from the World Bank were considered for the gross domestic product (GDP) per capita over the period 1990–2021. This statistical information was assessed through panel data approaches based on the models from the convergence theory. Specifically, the concepts of sigma and beta convergence were addressed, as well as the concept of catch-up rates.

The findings obtained highlight evidence of the existence of clubs of convergence among the Sub-Saharan African countries and the processes of catching up. These results may be relevant support for the policymakers and international funds and programmes.

This research provides a new perspective on the convergence of GDP per capita in Sub-Saharan African countries, based on an analysis focused on groups of countries identified on the basis of catch-up rates. This approach presents a way of dealing with the different specificities of these nations.

The purpose of this study is to reveal the dynamics of house prices and sales in spatial and temporal dimensions across British regions.

This paper incorporates two empirical approaches to describe the behaviour of property prices across British regions. The models are applied to two different data sets. The first empirical approach is to apply the price diffusion model proposed by Holly et al. (2011) to the UK house price index data set. The second empirical approach is to apply a bivariate global vector autoregression model without a time trend to house prices and transaction volumes retrieved from the nationwide building society.

Identifying shocks to London house prices in the GVAR model, based on the generalized impulse response functions framework, I find some heterogeneity in responses to house price changes; for example, South East England responds stronger than the remaining provincial regions. The main pattern detected in responses and characteristic for each region is the fairly rapid fading of the shock. The spatial-temporal diffusion model demonstrates the presence of a ripple effect: a shock emanating from London is dispersed contemporaneously and spatially to other regions, affecting prices in nondominant regions with a delay.

The main contribution of this work is the betterment in understanding how house price changes move across regions and time within a UK context.

Since 1966, the Severn crossing has been connecting England and Wales. In January 2018, its ownership returned to the UK Government, and this marked the start of a toll-free journey across the two countries and made commuting between the regions more affordable. In this paper, we examine the impact of the toll removal on the property market.

We employ property-level data from the Land Registry and a difference-in-differences (DiD) empirical model for the periods 2016–2018 and 2019–2021 to capture the pre- and post-toll removal dynamics. The DiD estimation allows us to examine the causal relationship between policy changes and property prices.

Our findings suggest that property prices in Newport and Monmouthshire (South East Wales) are positively affected by the policy, which results in a statistically significant increase of 5.8% more than those located in the South West England (Bristol and South Gloucestershire) region in the period 2019–2021. The impact can reach up to 13.1% for properties located in a 10 km radius of the bridge. The results indicate that the toll removal enables the ripple effect across the two markets by reducing commuting costs.

This is the first paper that examines the Severn Crossing case study. Its contribution is significant since we provide empirical evidence on how reduced transportation costs increase property prices in the lowest income region and have the opposite effect on the area with higher incomes and economic activity levels.

Human capital is a portfolio of rich skills that the labour possesses. Human capital has attracted significant attention from scholars. Nevertheless, empirical findings on the utility of human capital have often been divided. To address the research gap in the literature, the authors attempt to understand how human capital plays a significant role in financial development and economic growth nexus.

The authors rely on secondary data published by the World Bank. The authors use econometric tools such as the autoregressive distributive lag (ARDL) model and related statistical tests to study the relationship between human capital, India's financial growth and gross domestic product (GDP) growth.

Study findings suggest that human capital and financial development contribute significantly to economic growth. Further, the authors found that human capital has a positive and significant moderating effect on the path of joining financial development and economic growth.

The study contributes to the human capital debate. Despite the rich body of literature, the study based on World Bank data confirms the previous findings that investment in human capital is always useful for the financial and economic growth of the nation.

This paper reveals some unique findings regarding effect of financial development and economic growth nexus which opens the window of new dimension to think about their nexus. It also provides a different pathway to foster the economic growth by using human capital and financial development as together, especially in India.

This article aims to investigate how institutional characteristics affect the level of financial development of economies collectively and compare between developed and undeveloped economies.

A dynamic panel with 131 countries, including developed and developing ones, was utilized; the estimators of the generalized method of moments system (GMM system) model were selected because they have econometric characteristics more suitable for analysis, providing superior statistical precision compared to traditional linear estimation methods.

The results from the full panel suggest that concrete and well-defined institutions are important for financial development, confirming previous research, with a more limited scope than the present work.

Limitations of this research include the availability of data for all countries worldwide, which would make the research broader and more complete.

A panel of countries was used, divided into developed and developing countries, to analyze the impact of institutional variables on the financial development of these countries, which is one of the differentiators of this work. Another differentiator of this research is the presentation of estimates in six different configurations, with emphasis on the GMM system model in one and two steps, allowing for comparison between results.

The purpose of this study is to examine the relationship between the productive structure and the size of the informal economy in Latin American countries.

The study employs econometric techniques for panel data covering the period from 2002 to 2017 and considering 17 Latin American countries. The evidence presented is based on the informal economy data generated by Medina and Schneider (2018) who estimate the size of the informal economy using a structural equation model and the share of manufacturing in total employment as a measure of the size of the manufacturing sector. Also, the study addresses the possible endogeneity bias in the relationship studied and makes the conclusions more robust, thus avoiding spurious correlations that weaken the findings.

The results indicate that most industrialized Latin American countries are associated with a smaller size of the informal economy.

The findings have important policy implications, as they suggest that Latin American economies need to switch the structure of the economy toward more sophisticated productive structures if they want to reduce the size of the informal economy. Thus, more efforts should be deployed to policies to diversify and upgrade economies.

The study contributes to the literature on the informal economy by connecting the country’s productive structure and informality. Specifically, the results show that the productive structure of countries is a plausible explanation for the size of the informal economy.

The motivation for this paper is to provide a deeper understanding of some of the important and trending topics in the sport industry. Besides this, to consider the changing landscape of ownership, strategies and organisation of several types of sports in the contemporary environment, there is a need for deeper contextual knowledge of how different sport/s, leagues, clubs, associations, teams etc. own, organise and strategise at local to national to regional to international contexts.

This paper introduces the special issue on the sport industry that welcomes four interesting contributions of focusing on the important themes related to the sport industry. They include (1) digital transformation and needed capabilities, (2) fan engagement in a digital way using social media, (3) network convergence of business, entertainment and geo-politics through sports ownership and finally (4) the relevance and relation of social capital in the organisational strategy of sports organisations.

Four generic insights related to the themes and emerging trends in marketisation, ownership and digitalisation strategies in the sport industry are introduced in this paper. The first insight is that sports digitalisation and politicisation significantly impact the strategising, organising and networking activities of sports owners to foster value capture. Secondly, owners’ performance duality of marketisation of their sports clubs and vested business interests unravels the paradoxes of idealism and profit-maximisation. Thirdly, individual sports stars position themselves as an influential platform of value creation through on-field performance, social engagement and self-interests. Finally, the fourth insight is that the dual aims of sporting on-field success and profit making of large capital-funded sports clubs endanger the autonomy and governance of sports bodies/associations and an equitable sporting competition environment.

This paper provides an overview and reflections on the contributions of the papers in this special issue. The papers give different perspectives on how sport has been influenced by the development in society (1) with increasing digitalisation influencing organising of sport clubs and strategies for engaging fans, and (2) the influence of marketisation and politics in ownership strategies. As such, four insightful reflections are developed based on the originality of the contributions and the related extant literature presented on the themes of marketisation, ownership and digitalisation of the sport industry.

Just as the Covid-19 pandemic has hit all areas of life, it has also hit the working life. Towards the end of the pandemic period, the concept of quiet quitting entered people's lives. The phenomenon of quiet quitting has been introduced as a brand new concept in the mainstream media and social media in general. The primary objective of this study is to investigate and define the emerging phenomenon of quiet quitting. Furthermore, this study aims to compare this novel phenomenon with other established theoretical approaches in the field of management.

This review study specifically examines the concept of quiet quitting, aiming to gain a deeper understanding of this phenomenon.

Contrary to popular belief, the phenomenon of “quiet quitting” is not a recent or trendy occurrence. Instead, it has persisted for numerous years and is intertwined with various theories such as motivation, commitment, engagement and social exchange theory.

This study provides employers, managers, HR practitioners with recommendations on how to address the employee's quiet quitting behavior.

This study represents a pioneering work that explores an uncharted territory, the phenomenon of quiet quitting. The authors demonstrated and relate the historical processes of management theories to the phenomenon of quiet quitting, which is a concept that appears to lack roots.

The COVID-19 pandemic impacted the food and beverage sector very severely. The complete breakdown of the supply chain and lack of customers was particularly challenging for start-ups in the industry. Those that survived were the ones who made a timely and smooth transition in business models to become more technology driven. However, the issues faced and the ground realities of the extent of struggle that these start-ups went through are less understood in the scholarly literature, with most accounts being anecdotal. The purpose of this paper is to address these issues.

The present study attempts to bridge this gap by conducting a qualitative study to collect data from 35 owners/employees of food and beverage start-ups and using the grounded theory approach to code it and identify key themes.

Content analysis of the 35 responses revealed three main themes: the impact of the COVID-19 pandemic on operations of food and beverage start-ups, challenges due to the onset of the COVID-19 pandemic and combating the pandemic, divided into seven subthemes: differences in operations pre- and post-COVID, key changes experienced in operations post-COVID, problems arising in operations due to the pandemic, problems in the use of digital marketing due to the pandemic, problems in the use of technological platforms due to the pandemic, using innovative approaches and technological innovations and using disruptive technologies.

The study contributes novel insights by investigating the changes experienced by food and beverage start-ups due to the pandemic, the innovations introduced by them and the perception about the role of disruptive technologies in their postpandemic operations of food and beverage start-ups.