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1 – 10 of over 3000Vaishnavi Pandey, Anirbid Sircar, Kriti Yadav and Namrata Bist
This paper aims to conduct a detailed analysis of the industrial practices currently being used in the geothermal energy industry and to determine whether they are contributing to…
Abstract
Purpose
This paper aims to conduct a detailed analysis of the industrial practices currently being used in the geothermal energy industry and to determine whether they are contributing to any limitations. A HAZOP-based upgradation model for improvement in existing industrial practices is proposed to ensure the removal of inefficient conventional practices. The HAZOP-based upgradation model examines the setbacks, identifies its causes and consequences and suggests improvement methods comprising of modern-day technology.
Design/methodology/approach
This paper proposed a HAZOP-based upgradation model for improvement in existing industrial practices. The proposed HAZOP model identifies the drawbacks brought on by conventional practices and suggests improvements.
Findings
The study reviewed the challenges geothermal power plants currently face due to conventional practices and suggested a total of 22 upgradation recommendations. From those, a total of 11 upgradation modules comprising modern digital technology and Industry 4.0 elements were proposed to improve the existing practices in the geothermal energy industry. Autonomous robots, augmented reality, machine learning and Internet of Things were identified as useful methods for the upgradation of the existing geothermal energy system.
Research limitations/implications
If proposed recommendations are incorporated, the efficiency of geothermal energy generation will increase as cumulating setbacks will no longer degrade the work output.
Practical implications
The proposed recommendation by the study will make way for Industry 4.0 integration with the geothermal energy sector.
Originality/value
The paper uses a proposed HAZOP-based upgradation model to review issues in existing industrial practices of the geothermal energy sector and recommends solutions to overcome operability issues using Industry 4.0 technologies.
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Shi Yin, Zengying Gao and Tahir Mahmood
The aim of this study is to (1) construct a standard framework for assessing the capability of bioenergy enterprises' digital green innovation partners; (2) quantify the choice of…
Abstract
Purpose
The aim of this study is to (1) construct a standard framework for assessing the capability of bioenergy enterprises' digital green innovation partners; (2) quantify the choice of partners for digital green innovation by bioenergy enterprises; (3) propose based on a dual combination empowerment niche digital green innovation field model.
Design/methodology/approach
Fuzzy set theory is combined into field theory to investigate resource complementarity. The successful application of the model to a real case illustrates how the model can be used to address the problem of digital green innovation partner selection. Finally, the standard framework and digital green innovation field model can be applied to the practical partner selection of bioenergy enterprises.
Findings
Digital green innovation technology of superposition of complementarity, mutual trust and resources makes the digital green innovation knowledge from partners to biofuels in the enterprise. The index rating system included eight target layers: digital technology innovation level, bioenergy technology innovation level, bioenergy green level, aggregated digital green innovation resource level, bioenergy technology market development ability, co-operation mutual trust and cooperation aggregation degree.
Originality/value
This study helps to (1) construct the evaluation standard framework of digital green innovation capability based on the dual combination empowerment theory; (2) develop a new digital green innovation domain model for bioenergy enterprises to select digital green innovation partners; (3) assist bioenergy enterprises in implementing digital green innovation practices.
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This study aims to quantify sectoral energy and carbon intensity, revisit the validity of the Environmental Kuznets Curve (EKC) and explore the relationship between economic…
Abstract
Purpose
This study aims to quantify sectoral energy and carbon intensity, revisit the validity of the Environmental Kuznets Curve (EKC) and explore the relationship between economic diversification and CO2 emissions in Bahrain.
Design/methodology/approach
Three stages were followed to understand the linkages between sectoral economic growth, energy consumption and CO2 emissions in Bahrain. Sectoral energy and carbon intensity were calculated, time series data trends were analyzed and two econometric models were built and analyzed using the autoregressive distributed lag method and time series data for the period 1980–2019.
Findings
The results of the analysis suggest that energy and carbon intensity in Bahrain’s industrial sector is higher than those of its services and agricultural sectors. The EKC was found to be invalid for Bahrain, where economic growth is still coupled with CO2 emissions. Whereas CO2 emissions have increased with growth in the manufacturing, and real estate subsectors, the emissions have decreased with growth in the hospitability, transportation and communications subsectors. These results indicate that economic diversification, specifically of the services sector, is aligned with Bahrain’s carbon neutrality target. However, less energy-intensive industries, such as recycling-based industries, are needed to counter the environmental impacts of economic growth.
Originality/value
The impacts of economic diversification on energy consumption and CO2 emissions in the Gulf Cooperation Council petroleum countries have rarely been explored. Findings from this study contribute to informing economic and environment-related policymaking in Bahrain.
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Georgia Makridou, Michalis Doumpos and Christos Lemonakis
Considering environmental, social and governance (ESG) factors is vital in climate change mitigation. Energy companies must incorporate ESG into their business plans, although it…
Abstract
Purpose
Considering environmental, social and governance (ESG) factors is vital in climate change mitigation. Energy companies must incorporate ESG into their business plans, although it unquestionably affects their corporate financial performance (CFP). This paper aims to investigate the effect of ESG on energy companies’ profitability through return on assets by analysing the combined score and individual dimensions of ESG.
Design/methodology/approach
The study examined a panel data sample of 911 firm-year observations for 85 European energy-sector companies during 1995–2020. Two distinct modelling specifications were applied to explore the impact of ESG components on the CFP of EU energy companies. The financial data and ESG scores were obtained from the Thomson Reuters Eikon database in July 2021.
Findings
The empirical findings revealed that energy companies’ profitability is marginally and negatively affected by their ESG performance. Whereas independent evaluation of the ESG subcomponents indicated that environmental responsibility has a significant negative effect. In contrast, corporate social and governance responsibilities are positively but not significantly associated with the company’s CFP.
Originality/value
This study fills a research gap in the ESG–CFP literature in the European energy sector, a pioneer in sustainable development. To the best of the authors’ knowledge, this study’s originality lies in its analysis of ESG factors’ role in profitability by considering different EU countries and energy sectors.
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Mirza Muhammad Naseer, Yongsheng Guo and Xiaoxian Zhu
This study aims to examine the relationship between environmental, social and governance (ESG) disclosure, firm risk and stock market returns within the Chinese energy sector…
Abstract
Purpose
This study aims to examine the relationship between environmental, social and governance (ESG) disclosure, firm risk and stock market returns within the Chinese energy sector. Using a variety of econometric techniques, the study seeks to uncover the impact of ESG disclosure on risk mitigation and its influence on stock market performance.
Design/methodology/approach
Benchmark regression models were used to explore the associations between ESG disclosure, firm risk and stock returns. To address potential endogeneity, a generalised method of moments estimator is used. Quantile regression was used for robustness analysis.
Findings
The study reveals a negative relationship between ESG disclosure and firm risk, indicating that companies with greater ESG disclosure tend to experience reduced risk exposure. In addition, a positive association is observed between ESG disclosure and stock market returns, suggesting that companies with more comprehensive ESG disclosure practices tend to perform better in the stock market.
Research limitations/implications
This study implies that investors appreciate sustainable investment and incorporate ESG practices and disclosure in decision-making. Policymakers can promote transparent ESG reporting through regulatory frameworks, fostering sustainable practices in the energy sector.
Originality/value
Despite the mounting concerns over carbon dioxide emissions and the energy industry’s environmental footprint, this study pioneers a comprehensive analysis of ESG disclosure within this critical sector. Delving into the relationship of ESG practices, firm risk and market returns, this research uniquely examines both risk mitigation and return enhancement, shedding new light on sustainable strategies in the energy domain.
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Alina Steblyanskaya, Mingye Ai, Artem Denisov, Olga Efimova and Maksim Rybachuk
Understanding China's carbon dioxide (
Abstract
Purpose
Understanding China's carbon dioxide (
Design/methodology/approach
In this study using the input and output (IO) table's data for the selected years, the authors found the volume of
Findings
Results show that in the industries with a huge volume of
Originality/value
“Transport, storage, and postal services” and “Smelting and processing of metals” industries in China has the second place concerning emissions, but over the past period, emissions have been sufficiently reduced. “Construction” industry produces a lot of emissions, but this industry does not carry products characterized by large emissions from other industries. Authors can observe that Jiangsu produces a lot of
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Wen-Qian Lou, Bin Wu and Bo-Wen Zhu
This study aims to clarify influencing factors of overcapacity of new energy enterprises in China and accurately predict whether these enterprises have overcapacity.
Abstract
Purpose
This study aims to clarify influencing factors of overcapacity of new energy enterprises in China and accurately predict whether these enterprises have overcapacity.
Design/methodology/approach
Based on relevant data including the experience and evidence from the capital market in China, the research establishes a generic univariate selection-comparative machine learning model to study relevant factors that affect overcapacity of new energy enterprises from five dimensions. These include the governmental intervention, market demand, corporate finance, corporate governance and corporate decision. Moreover, the bridging approach is used to strengthen findings from quantitative studies via the results from qualitative studies.
Findings
The authors' results show that the overcapacity of new energy enterprises in China is brought out by the combined effect of governmental intervention corporate governance and corporate decision. Governmental interventions increase the overcapacity risk of new energy enterprises mainly by distorting investment behaviors of enterprises. Corporate decision and corporate governance factors affect the overcapacity mainly by regulating the degree of overconfidence of the management team and the agency cost. Among the eight comparable integrated models, generic univariate selection-bagging exhibits the optimal comprehensive generalization performance and its area under the receiver operating characteristic curve Area under curve (AUC) accuracy precision and recall are 0.719, 0.960, 0.975 and 0.983, respectively.
Originality/value
The proposed integrated model analyzes causes and predicts presence of overcapacity of new energy enterprises to help governments to formulate appropriate strategies to deal with overcapacity and new energy enterprises to optimize resource allocation. Ten main features which affect the overcapacity of new energy enterprises in China are identified through generic univariate selection model. Through the bridging approach, the impact of the main features on the overcapacity of new energy enterprises and the mechanism of the influence are analyzed.
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Arifa Tanveer, Shihong Zeng and Wei Tian
This study aims to examine whether and how corporate sustainability capability influences energy efficiency through competitive intensity and slack resource availability.
Abstract
Purpose
This study aims to examine whether and how corporate sustainability capability influences energy efficiency through competitive intensity and slack resource availability.
Design/methodology/approach
The authors applied a two-wave research design and administered a survey questionnaire to senior-level managers of 78 ISO-14001 and ISO-50001 certified manufacturing companies. The authors use a multi-method approach for data analysis. AMOS 23 software was applied for covariance-based structural equation modeling. In addition, SPSS 25 software was applied for hierarchical regression analysis to examine the causal relationships in the model.
Findings
The finding reveals that corporate sustainability capabilities, which include energy-saving opportunities, seizing energy-saving opportunities and resource reconfiguration, significantly improve firms’ energy efficiency. In addition, competitive intensity and slack resource availability positively moderated the relationship between corporate sustainability capability and energy efficiency.
Originality/value
To the best of the authors’ knowledge, this study is the first to examine the link between corporate sustainability capability and energy efficiency in developing countries such as Pakistan. Although the influence of various corporate sustainability capabilities on sustainable performance has been widely examined in the literature, the role of corporate sustainability capability has been limitedly explored with energy efficiency. This study extends the literature by adding to the knowledge of corporate sustainability capability that enhances boundary conditions in developing countries.
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Yang Gao, Wanqi Zheng and Yaojun Wang
This study aims to explore the risk spillover effects among different sectors of the Chinese stock market after the outbreak of COVID-19 from both Internet sentiment and price…
Abstract
Purpose
This study aims to explore the risk spillover effects among different sectors of the Chinese stock market after the outbreak of COVID-19 from both Internet sentiment and price fluctuations.
Design/methodology/approach
The authors develop four indicators used for risk contagion analysis, including Internet investors and news sentiments constructed by the FinBERT model, together with realized and jump volatilities yielded by high-frequency data. The authors also apply the time-varying parameter vector autoregressive (TVP-VAR) model-based and the tail-based connectedness framework to investigate the interdependence of tail risk during catastrophic events.
Findings
The empirical analysis provides meaningful results related to the COVID-19 pandemic, stock market conditions and tail behavior. The results show that after the outbreak of COVID-19, the connectivity between risk spillovers in China's stock market has grown, indicating the increased instability of the connected system and enhanced connectivity in the tail. The changes in network structure during COVID-19 pandemic are not only reflected by the increased spillover connectivity but also by the closer relationships between some industries. The authors also found that major public events could significantly impact total connectedness. In addition, spillovers and network structures vary with market conditions and tend to exhibit a highly connected network structure during extreme market status.
Originality/value
The results confirm the connectivity between sentiments and volatilities spillovers in China's stock market, especially in the tails. The conclusion further expands the practical application and theoretical framework of behavioral finance and also lays a theoretical basis for investors to focus on the practical application of volatility prediction and risk management across stock sectors.
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This study aims to investigate the variation in overvaluation proxies and volatility across industry sectors and time.
Abstract
Purpose
This study aims to investigate the variation in overvaluation proxies and volatility across industry sectors and time.
Design/methodology/approach
Using industry sector data from the S&P Capital IQ database, this study applies traditional cross-sectional regressions to investigate the relationship between overvaluation and volatility over the 2001–2020 time period.
Findings
This study finds that the most volatile industry sectors generally do not coincide with overvalued industry sectors in the cross-section, implying that there are limitations to price-multiple methods for forecasting future volatility. Rather, this study finds that historical volatility significantly increases the goodness-of-fit when modeling volatility in the cross section of industry sectors. The findings of this study imply that firms should increase disclosures and transparency about corporate practices to decrease downside risk that stems from bad news. In addition, the findings underline the consistency between market efficiency and high levels of volatility in periods of significant uncertainty.
Originality/value
This study proposes a novel approach to examining the cross section of volatility across time for industry sectors.
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