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The intensity of carbon emissions has led to the serious problem of global warming, and the consequences in terms of climatic disasters are gaining increasing attention worldwide. As the energy sector is responsible for most global emissions, developing clean energy is crucial to combat climate change. This study aims to examine the relationship between corporate governance and renewable energy (RE) consumption and explore the interaction between RE production and RE use.

The study adopts an econometric framework of a panel model, followed by the robustness check using alternative methods, including logit regressions. The bivariate probit model is used to analyze the interaction between the decision to use and the decision to produce RE. The analysis is based on a sample of 3,896 firms covering 45 countries worldwide.

The results reveal that appropriate governance mechanisms positively impact RE consumption. These include the existence of a sustainability committee; environmental, social and governance-based compensation policy; financial performance-based compensation; sustainability external audit; transparency; board gender diversity; and board independence. Firms with appropriate governance mechanisms are more likely to produce and use RE than others. Finally, while RE use positively impacts firm value and environmental performance, the authors find no significant effect on current profitability.

This study goes beyond previous research by exploring the impact of multiple governance mechanisms. To the best of the authors’ knowledge, this is also the first study examining the relationship between RE use and firm value. Overall, the findings suggest that RE transition requires, first of all, establishing appropriate governance mechanisms within companies.

This paper investigates how gender, ethnicity, and network membership interact to influence how small and medium-sized enterprise (SME) owner-managers become aware of finance support programmes developed by government policy and/or support schemes advanced by the banking industry.

Drawing on expectation states theory (EST), we develop eight sets of hypotheses and employ the UK SME Finance Monitor data to test them using bivariate probit regression analysis.

In general, network membership increases awareness, but more so for government programmes. We also find no differences between female and male owner-managers when in networks. However, we identify in-network and out-network differences by ethnicity, with minority females seemingly better off than minority males.

Business networks are better for disseminating government programmes than industry-led programmes. For native White women, network membership can enhance policy awareness advantage further, whilst for minorities, networks significantly offset the big policy awareness deficits minorities inherently face. However, policy and practice need to address intersectional inequalities that remain in access to networks themselves, information access within networks, and the significant out-network deficits in awareness of support programmes afflicting minorities.

This study provides one of the first large-scale empirical examinations of intersectional mechanisms in awareness of government and industry-led enterprise programmes. Our novel and nuanced findings advance our understanding of the ways in which gender and ethnicity interact with network dynamics in entrepreneurship.

Even if digital financial services have a positive impact on financial inclusion, it creates a digital as well as gender divide within and across countries, creating regional disparity even within developing nations. Though pandemic has initiated digitalization of various services, there has been scanty research on whether digital transfer of income can improve digital financial inclusion in post-pandemic era, especially in developing countries. The purpose of the current study is to explain the regional disparity within developing countries from three regions East Asia Pacific, South Asia and Sub-Saharan Africa, using latest World Findex data, 2021.

The author takes an instrumental variable approach to run bivariate probit model to find the factors that motivate the users to make digital payments.

The study observes that electronic transfer of wages, government transfers and remittances can motivate individuals to make use of digital mode of transactions and mobile. The practice of formal saving and borrowings are the prerequisites. However, this mechanism holds good for East Asia Pacific and not for South Asia and Sub-Saharan Africa, which are poor in information and communication technology infrastructure. Women are lagging behind men, but digital transfer of wages motivate them to make digital transaction.

Digitalization of all government services and provision of affordable mobile network and internet services are necessary for regions like South Asia and Sub-Saharan Africa. In East Asia Pacific region, data protection, data governance and better regulatory framework are required. Higher female labor force participation with digital transfer of wages and empowerment with smartphones are key to reducing the Gender gap.

The current study corrects for the possible endogeneity issue, which the extant literature has not paid attention to, and provides region-specific and gender-specific policy recommendations for an improved digital inclusion.

This study is motivated in part by the fact that the unfolding 2022 bear market, which has reached the −25% drawdown, has not been preceded by the inverted 10Y-3 m spread or an inverted near-term forward spread.

The authors develop a three-factor probit model to predict/explain the deep stock market drawdowns, which the authors define as the drawdowns in excess of 20%.

The study results show that (1) the rising credit risk predicts a deep drawdown about a year in advance and (2) the monetary policy easing precedes an imminent drawdown below the 20% threshold.

This study three-factor probit model shows adaptability beyond the typical recessionary bear market and predicts/explains the liquidity-based selloffs, like the 2022 and possibly the 1987 deep drawdowns.

This study analyses the role of individuals' objective financial knowledge in shaping preferences for ethical intermediaries and sustainable investments in Italy. Another goal of this study is to assess the impact of individuals' misperceptions about their own financial knowledge and to test for gender-related differences in attitudes towards socially responsible investing (SRI).

Using nationally representative microdata from the Bank of Italy’s “Italian Literacy and Financial Competence Survey” (IACOFI), the authors use probit models, extended to account for potential endogeneity issues, to assess the causal effects of financial knowledge and confidence on stated preferences for SRI. Empirical models also allow to explicitly assess the moderating role of gender on the effects of financial knowledge and confidence on attitudes towards sustainable investing.

Results indicate that individuals' preferences for sustainable finance significantly increase with financial knowledge, suggesting that inadequate financial competencies represent a barrier to participation in SRI. At the same time, lack of confidence in one’s own financial knowledge significantly hampers attitudes towards sustainable investments. Furthermore, the authors show that women have a greater preference for sustainable finance than men and point out that financial knowledge and confidence exert heterogenous effects on attitudes towards SRI.

This study provides several contributions to the literature on SRI. First, the authors give evidence of the causal effect of financial knowledge on preferences for both ethical financial intermediaries and sustainable investments. Moreover, this is the first study to investigate the role of financial underconfidence bias in shaping individuals' SRI attitudes. Finally, extending previous research, the authors assess differences in SRI preferences between women and men and provide novel evidence on gender-related heterogeneity in the effects of financial knowledge and underconfidence.

This study analyzes the impact of COVID-19 on agricultural production in South India by evaluating the influence of market channels and socioeconomic conditions on the production decisions of farmers during two key cropping seasons. We base our analysis on primary data from 200 marginal, small and medium farmers, primarily focusing on the key seasonal crops, namely paddy and black gram.

We studied the downstream supply chains of paddy and black gram crops in the district of Villupuram, situated in the South Indian state of Tamil Nadu. Using a Bi-Probit model, we analyzed the production decisions of marginal, small and medium farmers engaged in paddy and black gram cultivation. Various factors are considered, including farmers’ socioeconomic characteristics, gender, market channels accessed and the coping strategies employed.

After the easing of lockdown measures in June 2020, our research revealed substantial disruptions in agricultural production during the critical Kharif and Rabi seasons. Most farmers refrained from returning to their fields during the Kharif season; those who did produced millet as the main crop. Factors such as choice of market channels in previous seasons, economic status, access to all-weather roads, labor availability, gender and coping strategies played an important role in the return to production in the subsequent Kharif and Rabi seasons.

Our data revealed several interesting threads related to price volatility, irrigation and access to markets and their impact on food security. The role of intermediaries and market channels in providing liquidity emerges as an important aspect of farmers' choice of markets. The pandemic impacted all these factors, but a detailed analysis was beyond the scope of this study.

We also find that resilience to economic shocks varies not only by economic status but also by gender and social groups. Farmers with female members are more likely to be resilient, and marginal and small farmers primarily belong to social groups that are economically less developed.

This study contributes to the literature on factors influencing farmer choice and decision-making and provides nuances to discussions by analyzing crop-specific supply chains, highlighting the critical role of socioeconomic factors. It also highlights the role of demographics and infrastructural factors like access to all-weather roads and access to markets that influence farmers’ production decisions.

The escalating levels of greenhouse gas emissions have become a growing global concern, with household energy consumption emerging as a significant contributor. To develop effective public policies, it is crucial to understand the energy-saving behavior of households. This study delves into the determinants of energy-saving practices in a developing country.

The authors chose a multivariate probit model, as it allowed to look after possible correlations among seven energy-saving practices within households.

The findings underscore the significant influence of sociodemographic variables, such as gender, civil status, income and education, on energy-saving practices. Furthermore, the authors discovered that households where the head actively volunteers in social organizations are more likely to adopt energy-saving behaviors. Additionally, internet access positively contributes to pro-environmental behavior. This research reveals that certain energy-saving practices are interconnected, acting as complements or substitutes.

Recommendations for public policy include prioritizing education in rural areas to boost energy-saving practices, improving internet access in nonurban regions and promoting citizen involvement in social organizations to enhance environmental awareness and encourage energy-saving behavior. The authors contribute to literature evidencing that certain energy-saving practices are not independent of each other, they are rather complementary and, in some cases, substitutes.

Recommendations for public policy include prioritizing education in rural areas to boost energy-saving practices, improving Internet access in nonurban regions and promoting citizen involvement in social organizations to enhance environmental awareness and encourage energy-saving behavior.

Previous studies have overlooked these interdependencies, highlighting the necessity of a system of equations to yield more efficient estimates by considering correlations between error terms.

Agriculture in Ethiopia relies heavily on traditional farm power sources and is designated by the lowest farm machinery access, in contrast to other Sub-Sahara African (SSA) countries. The purpose of this research is to analyze the heterogeneity of mechanization service transactions and factors determining farmers' cooperation in mechanization clusters and willingness to accept land consolidation.

The authors conducted a cross-sectional survey of producer households in major crop production areas in the Oromia, SNNPR, Amhara and Tigray regions. The sampling design involved three stages: districts were selected using a stratified sampling approach accompanied by simple random samples of kebele units and producer households in the second and final stages, respectively.

This study’s results show that mechanization service costs, service relationships, clustering and land consolidation exhibit significant heterogeneity across the study areas. Cluster farming was found to be advantageous against diseconomies, rationalized by upgrading the mechanization scale. The probit model parameterization of the probability distributions reveals that household, land, crop, mechanization service, remoteness and location-related factors determine participation in mechanization clusters and willingness to accept land consolidation.

Fostering cooperation by focusing on constraints and demand of users is suggested to reduce transaction costs and expand hired mechanization services to unaddressed areas. The findings are relevant to most SSA countries where mechanization development is hampered by land fragmentation.

Limited information is available on agricultural mechanization development for smallholder farmers, particularly in Ethiopia, and this study adds empirical evidence about the synergy between cluster farming and mechanization, horizontal coordination and alternative supply models.

The main goal of this paper is to study empirically the importance of experience of top managers and firms for export performance, having controlled for a number of firm characteristics.

The study is based on the probit model applied to the 2020 edition of the BEEPS firm level survey. The authors analyze firms in 15 EU member and 15 non-member countries.

The results indicate that firm experience can increase the probability of direct exporting, but is not significant for indirect exporting. The results also support the importance of interaction between experience of managers and experience of firms. The authors conclude that only the combination of managerial and firm experience can have a positive and significant effect for direct exporting. This relationship is more pronounced in the case of EU members.

The main limitations of our approach are related to data constraints. These include availability of only cross-sectional data and the limited number of individual characteristics of managers.

The importance of experience for exporting suggests that firms can break into foreign markets by hiring more experienced managers.

Post-communist countries can improve their export performance by hiring more experienced managers that would stimulate direct exports. Moreover, they can also export indirectly through intermediaries.

In contrast to previous studies, the authors used a model proposed by Jørgensen and Schroder (2008) in which the authors endogenized the costs of exporting by linking them to firm and managerial experience. Then, the authors validated empirically the importance of experience for firm export performance, having controlled for the set of individual firm characteristics.

Despite a reduction in poverty the global population in 2015, the incidence of poverty remains very high in Sub-Saharan African countries. Most of the countries in the region are agrarian, with most of their population residing in rural areas, and a majority of the poor in the region are found in Nigeria. This study examined the nexus between participation in nonfarm enterprises (NFEs) and poverty among rural farm households in Nigeria and across the six geopolitical zones.

The Nigerian Living Standard Survey (NLSS) conducted in 2018–2019 by the National Bureau of Statistics was used. We made use of 13,440 farm households with useful information for the purpose of this study. The sample comprises 6,885 households that participated in NFEs and 6,555 nonparticipating households. The data were analyzed with Foster, Greer, and Thorbecke (FGT) (1984) metrics, probit, and fractional probit models at p = 0.05.

The incidence of poverty was lower among the participating households than in the nonparticipating households. Participation in NFEs had a mitigating effect on poverty. We also established that zonal differentials in poverty rates exist among households in all the analyses. Participation in NFEs was influenced by individual, household, and institutional factors and was also able to explain the depth of poverty among the respondents.

It is suggested that poverty alleviation policies should be targeted at improving access to nonfarm economic activities by rural farm households residing in vulnerable geopolitical zones.

This study is the first attempt to profile household poverty based on the type of NFEs they are involved in. The study also provides an insight into the effect of the state of residence on zonal poverty models, which is expedient if the country must achieve Sustainable Development Goal 1 on the eradication of poverty everywhere.

The peer review history for this article is available at: https://publons.com/publon/10.1108/IJSE-06-2023-0493