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1 – 10 of 34Morteza Ghobakhloo, Mohammad Iranmanesh, Masood Fathi, Abderahman Rejeb, Behzad Foroughi and Davoud Nikbin
The study seeks to understand the possible opportunities that Industry 5.0 might offer for various aspects of inclusive sustainability. The study aims to discuss existing…
Abstract
Purpose
The study seeks to understand the possible opportunities that Industry 5.0 might offer for various aspects of inclusive sustainability. The study aims to discuss existing perspectives on the classification of Industry 5.0 technologies and their underlying role in materializing the sustainability values of this agenda.
Design/methodology/approach
The study systematically reviewed Industry 5.0 literature based on the PRISMA protocol. The study further employed a detailed content-centric review of eligible documents and conducted evidence mapping to fulfill the research objectives.
Findings
The advancement of Industry 5.0 is currently underway, with noteworthy initial contributions enriching its knowledge base. Although a unanimous definition remains lacking, diverse viewpoints emerge concerning the recognition of fundamental technologies and the potential for yielding sustainable outcomes. The expected contribution of Industry 5.0 to sustainability varies significantly depending on the context and the nature of underlying technologies.
Practical implications
Industry 5.0 holds the potential for advancing sustainability at both the firm and supply chain levels. It is envisioned to contribute proportionately to the three sustainability dimensions. However, the current discourse primarily dwells in theoretical and conceptual domains, lacking empirical exploration of its practical implications.
Originality/value
This study comprehensively explores diverse perspectives on Industry 5.0 technologies and their potential contributions to economic, environmental and social sustainability. Despite its promise, the practical evidence supporting the effectiveness of Industry 5.0 remains limited. Certain conditions are necessary to realize the benefits of Industry 5.0 fully, yet the mechanisms behind these conditions require further investigation. In this regard, the study suggests several potential areas for future research.
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Gouda Abdel Khalek and Amany Rizk
This paper aims to obtain a recent estimate of the cost of precautionary foreign reserve accumulation that emerging market and developing economies (EMDEs) had to endure to…
Abstract
Purpose
This paper aims to obtain a recent estimate of the cost of precautionary foreign reserve accumulation that emerging market and developing economies (EMDEs) had to endure to protect themselves against the risks of financial globalization. In addition, the study estimates the cost of excess reserves in emerging market economies (EMEs) using various reserve adequacy indicators that reflect potential sources of foreign exchange drains and vulnerability in EMEs' balance of payments.
Design/methodology/approach
This paper begins by explaining the accumulation of foreign reserves in EMDEs as a self-protection strategy against the risks of financial globalization. Next, it sheds light on the different types of economic costs of foreign reserve accumulation. Finally, it estimates the cost of foreign reserve accumulation in EMEs during the period (1990–2018) and in EMDEs during the period (1990–2015) due to data availability.
Findings
Results indicate that the cost of accumulating foreign reserves as a self-protection strategy in EMDEs and EMEs' was huge compared to their development financing needs. Applying various reserve adequacy measures demonstrates that many of the EMEs were holding inadequate precautionary reserves in 2018. Actually, this reflects the significant increase in external short term debt that many of the EMEs have witnessed since the eruption of the global financial crisis (2008). Thus increasing reserves in EMEs with weak reserve buffers and higher external debt is critical as they are more vulnerable to external shocks and capital flow reversals. Also given the estimated huge costs of accumulating foreign reserves, EMDEs should accompany it by other complementary self-protection policies and liquidity management policies to free up resources for productive investment.
Originality/value
The study contributes to the literature by estimating the cost of precautionary foreign reserve accumulation imposed on EMDEs during an extended period of time that covers a decade after the onset of the global financial crisis. Also to the authors' knowledge, this is the first study that estimates the cost of excess reserves in EMEs using various reserve adequacy indicators including the International Monetary Fund (IMF) assessing reserve adequacy (ARA) approach.
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Tapas Kumar Sethy and Naliniprava Tripathy
This study aims to explore the impact of systematic liquidity risk on the averaged cross-sectional equity return of the Indian equity market. It also examines the effects of…
Abstract
Purpose
This study aims to explore the impact of systematic liquidity risk on the averaged cross-sectional equity return of the Indian equity market. It also examines the effects of illiquidity and decomposed illiquidity on the conditional volatility of the equity market.
Design/methodology/approach
The present study employs the Liquidity Adjusted Capital Asset Pricing Model (LCAPM) for pricing systematic liquidity risk using the Fama & MacBeth cross-sectional regression model in the Indian stock market from January 1, 2012, to March 31, 2021. Further, the study employed an exponential generalized autoregressive conditional heteroscedastic (1,1) model to observe the impact of decomposed illiquidity on the equity market’s conditional volatility. The study also uses the Ordinary Least Square (OLS) model to illuminate the return-volatility-liquidity relationship.
Findings
The study’s findings indicate that the commonality between individual security liquidity and aggregate liquidity is positive, and the covariance of individual security liquidity and the market return negatively affects the expected return. The study’s outcome specifies that illiquidity time series analysis exhibits the asymmetric effect of directional change in return on illiquidity. Further, the study indicates a significant impact of illiquidity and decomposed illiquidity on conditional volatility. This suggests an asymmetric effect of illiquidity shocks on conditional volatility in the Indian stock market.
Originality/value
This study is one of the few studies that used the World Uncertainty Index (WUI) to measure liquidity and market risks as specified in the LCAPM. Further, the findings of the reverse impact of illiquidity and decomposed higher and lower illiquidity on conditional volatility confirm the presence of price informativeness and its immediate effects on illiquidity in the Indian stock market. The study strengthens earlier studies and offers new insights into stock market liquidity to clarify the association between liquidity and stock return for effective policy and strategy formulation that can benefit investors.
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Ahmed M. Adel, Xin Dai and Rana S. Roshdy
It is globally recognized that food waste has significant economic, social and environmental impacts. This study endeavors to identify the individuals' underlying factors that…
Abstract
Purpose
It is globally recognized that food waste has significant economic, social and environmental impacts. This study endeavors to identify the individuals' underlying factors that affect food waste behavior in a social context in Egypt.
Design/methodology/approach
Due to the scarcity of research illustrating food waste in a social context, a qualitative research paradigm is employed. In-depth semi-structured interviews are conducted with 18 Egyptian households to report their experiences, thoughts and feelings while eating in a social context.
Findings
Based on thematic analysis using grounded theory procedures, eight main elements affecting creation and reduction of food waste in social contexts are identified. Additionally, the authors investigate the role of emotions in social dining contexts. A key finding is that food waste in social events is inevitable and is the acceptable norm in the Egyptian culture. Thus, the first step to reduce food waste is paying more attention to change culture. Persuading people with the negative consequences of food waste issue on behalf of their cultural values will be more challenging and may require more innovative approaches.
Originality/value
Although food waste issue is one of the contemporary issues in the world, very little is known about how social food consumption leads to food waste behavior. This study employs social influence theory and the collectivistic culture orientation to investigate the unanswered question of why food gets wasted in social meal context.
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Susanna Mills, Eileen Kaner, Sheena Ramsay and Iain McKinnon
Obesity and associated morbidity and mortality are major challenges for people with severe mental illness, particularly in secure (forensic) mental health care (patients who have…
Abstract
Purpose
Obesity and associated morbidity and mortality are major challenges for people with severe mental illness, particularly in secure (forensic) mental health care (patients who have committed a crime or have threatening behaviour). This study aims to explore experiences of weight management in secure mental health settings.
Design/methodology/approach
This study used a mixed-methods approach, involving thematic analysis. A survey was delivered to secure mental health-care staff in a National Health Service (NHS) mental health trust in Northern England. Focus groups were conducted with current and former patients, carers and staff in the same trust and semi-structured interviews were undertaken with staff in a second NHS mental health trust.
Findings
The survey received 79 responses and nine focus groups and 11 interviews were undertaken. Two overarching topics were identified: the contrasting perspectives expressed by different stakeholder groups, and the importance of a whole system approach. In addition, seven themes were highlighted, namely: medication, sedentary behaviour, patient motivation, catered food and alternatives, role of staff, and service delivery.
Practical implications
Secure care delivers a potentially “obesogenic environment", conducive to excessive weight gain. In future, complex interventions engaging wide-ranging stakeholders are likely to be needed, with linked longitudinal studies to evaluate feasibility and impact.
Originality/value
To the best of the authors’ knowledge, this is the first study to involve current patients, former patients, carers and multidisciplinary staff across two large NHS trusts, in a mixed-methods approach investigating weight management in secure mental health services. People with lived experience of secure services are under-represented in research and their contribution is therefore of particular importance.
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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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Whether a human body has a healthy carrying capacity is calculated by body mass index (BMI). The BMI is found by dividing body weight in kilograms by the square of body length. If…
Abstract
Purpose
Whether a human body has a healthy carrying capacity is calculated by body mass index (BMI). The BMI is found by dividing body weight in kilograms by the square of body length. If the person's body weight is more than the heaviness that the body can carry healthily, it is called obesity. Destinations have a specific area, just like a human body. Therefore, any destination whose carrying capacity is exceeded can be called an “obese destination”. This study's primary purpose is to reveal the importance of destination carrying capacity through the concept of obesity.
Design/methodology/approach
Content analysis, one of the qualitative research methods, was employed, and graffiti reflecting the feelings of the local people toward tourists were used as data. Graffiti was considered as a social carrying capacity indicator to identify obese destination symptoms. Fifty graffiti obtained from search engines about destinations with obesity problems were analyzed.
Findings
The study's findings reveal that anti-tourist graffiti indicates obese destination symptoms. Furthermore, when the content analysis of graffiti is examined, it is seen that the obese destination's local people have intense anger toward tourists. This is a clear manifestation of the destination's health deterioration.
Originality/value
This study, in which the concept of obese destination is used for the first time, suggests that destinations' health may worsen just like people. If destinations with over-tourism are called obese, a more expansive awareness will be created about the destinations' problems. The study suggests that nonecolabel can be used as a mandatory diet tool for obese destinations. Anti-tourist graffiti has been addressed as an obese destination symptom.
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Asphat Muposhi and Tinashe Chuchu
This study applies the modified brand avoidance model to examine factors that influence sustainable fashion avoidance behaviour among millennial shoppers in South Africa.
Abstract
Purpose
This study applies the modified brand avoidance model to examine factors that influence sustainable fashion avoidance behaviour among millennial shoppers in South Africa.
Design/methodology/approach
A positivistic approach and a web-based online survey were employed to collect cross-sectional data from 423 millennial fashion shoppers. Standard multiple regression analysis was used to test proposed hypotheses.
Findings
Unmet expectations, materialism and symbolic incongruence emerged as major predictors of millennials' intention to avoid sustainable fashion. Sustainable fashion avoidance intention was found to have a positive effect on sustainable fashion avoidance behaviour.
Research limitations/implications
This study relied on self-reported data collected from millennial shoppers. Future studies may improve the generalizability of this study's results by conducting a comparative study with other cohorts such as baby boomers and Generation X who espouse different shopping values. Future studies may benefit from the use of longitudinal data in order to understand how millennial shoppers relate to sustainable fashion as it evolves.
Practical implications
The results of this study suggest the importance of developing value propositions that align sustainable fashion with cultural, personality and symbolic cues valued by millennial shoppers. Consumer education on the benefits of sustainable fashion is recommended as a long-term behavioural change strategy.
Social implications
The purchase behaviour of sustainable fashion should be encouraged as it enhances environmental sustainability including safeguarding the livelihoods of future generations.
Originality/value
This study contributes to literature on sustainable fashion avoidance behaviour. This is one of the pioneering studies to empirically examine the influence of unmet expectations, symbolic incongruence and ideological incompatibility in the context of an emerging market, such as South Africa.
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Anis Jarboui, Emna Mnif, Nahed Zghidi and Zied Akrout
In an era marked by heightened geopolitical uncertainties, such as international conflicts and economic instability, the dynamics of energy markets assume paramount importance…
Abstract
Purpose
In an era marked by heightened geopolitical uncertainties, such as international conflicts and economic instability, the dynamics of energy markets assume paramount importance. Our study delves into this complex backdrop, focusing on the intricate interplay the between traditional and emerging energy sectors.
Design/methodology/approach
This study analyzes the interconnections among green financial assets, renewable energy markets, the geopolitical risk index and cryptocurrency carbon emissions from December 19, 2017 to February 15, 2023. We investigate these relationships using a novel time-frequency connectedness approach and machine learning methodology.
Findings
Our findings reveal that green energy stocks, except the PBW, exhibit the highest net transmission of volatility, followed by COAL. In contrast, CARBON emerges as the primary net recipient of volatility, followed by fuel energy assets. The frequency decomposition results also indicate that the long-term components serve as the primary source of directional volatility spillover, suggesting that volatility transmission among green stocks and energy assets tends to occur over a more extended period. The SHapley additive exPlanations (SHAP) results show that the green and fuel energy markets are negatively connected with geopolitical risks (GPRs). The results obtained through the SHAP analysis confirm the novel time-varying parameter vector autoregressive (TVP-VAR) frequency connectedness findings. The CARBON and PBW markets consistently experience spillover shocks from other markets in short and long-term horizons. The role of crude oil as a receiver or transmitter of shocks varies over time.
Originality/value
Green financial assets and clean energy play significant roles in the financial markets and reduce geopolitical risk. Our study employs a time-frequency connectedness approach to assess the interconnections among four markets' families: fuel, renewable energy, green stocks and carbon markets. We utilize the novel TVP-VAR approach, which allows for flexibility and enables us to measure net pairwise connectedness in both short and long-term horizons.
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Osamudiamen Kenneth Otasowie, Clinton Ohis Aigbavboa, Ayodeji Emmanuel Oke and Peter Adekunle
The circular economy business models (CEBMs) provide ways for firms operating in the construction industry to move from a linear to a circular approach. Thus, this study aims to…
Abstract
Purpose
The circular economy business models (CEBMs) provide ways for firms operating in the construction industry to move from a linear to a circular approach. Thus, this study aims to explore CEBM research within the construction sector to show the focus area of studies, highlighting new areas that require attention.
Design/methodology/approach
This study adopted a bibliometric approach, using the Scopus database as the data source. The keywords used for paper extraction from the database were “circular economy business” OR “circular business” AND “model” OR “models” AND “construction industry” OR “building industry”. The VOSviewer software was then used to prepare a co-occurrence and co-authorship map based on the bibliographic data gathered.
Findings
The study’s findings reveal five research clusters in the construction industry. These clusters include circular construction intelligence, modular business modelling, eco-construction, sustainable construction economics and smart energy-efficient buildings. The two most cited scholars had two publications each, while the top journals are the Journal of Cleaner Production and Sustainable Production and Consumption. This study concludes that there is a need for research within the construction sector to focus on CEBMs’ archetypes and frameworks. This will enable a smooth transition from linear to circular business models in the sector.
Research limitations/implications
The information was gathered from a single database, Scopus; hence, using other databases, including Web of Science, Google Scholar and Dimensions, might produce more articles for examination and, consequently, different findings on the subject under investigation.
Practical implications
These findings would assist researchers in considering the areas mentioned, which are yet to receive attention, and, by extension, enhance economic development while maintaining environmental sustainability.
Originality/value
This paper made a significant contribution to the body of knowledge by identifying scholars and platforms that have been instrumental in advancing CEBM research and highlighting new areas that require attention in the construction sector.
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