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By using higher moments, this paper extends the quadratic local risk-minimizing approach in a general discrete incomplete financial market. The local optimization subproblems are convex or nonconvex, depending on the moment variants used in the modeling. Inspired by Lai et al. (2006), the authors propose a new multiobjective approach for the combination of moments that is transformed into a multigoal programming problem.

The authors evaluate financial derivatives with American features using local risk-minimizing strategies. The financial structure is in line with Schweizer (1988): the market is discrete, self-financing is not guaranteed, but deviations are controlled and reduced by minimizing the second moment. As for the quadratic approach, the algorithm proceeds backwardly.

In the context of evaluating American option, a transposition of this multigoal programming leads not only to nonconvex optimization subproblems but also to the undesirable fact that local zero deviations from self-financing are penalized. The analysis shows that issuers should consider some higher moments when evaluating contingent claims because they help reshape the distribution of global cumulative deviations from self-financing.

A detailed numerical analysis that compares all the moments or some combinations of them is performed.

The quadratic approach is extended by exploring other higher moments, positive combinations of moments and variants to enforce asymmetry. This study also investigates the impact of two types of exercise decisions and multiple assets.

The paper aims to identify the critical constraints that impede heritage building (HB) facility managers from discharging their duties effectively and develop an index model to guide HB maintenance management (HBMM) practitioners to the critical constraints.

A literature review was conducted to identify HBMM constraints. Facilty management practitioners assessed the constraints' significance through an online survey. The factor analysis was used to shortlist and group the constraints, and the constraint clusters were analyzed by the fuzzy synthetic evaluation technique. A significant index cluster to determine HBMM constraints criticality was generated using the linear additive model.

Embracing a total of 16 HBMM constraints, the three clusters identified are: (1) managerial and inadequacy constraints, (2) pressure and bureaucracy constraints and (3) HB peculiarities constraints. Based on the generated significant index, the HB peculiarities cluster was identified as the most significant.

The study was conducted in a particular jurisdiction, limiting the generalizability of the result. Future research should address this limitation by covering more jurisdictions.

The significant index model (SIM) developed enables HBMM practitioners to objectively assess the criticality of HB constraints and facilitates them to effectively strategize and allocate resources for HBMM.

The SIM, which transforms subjective judgment into the objective assessment of the HBMM constraints' criticality, can assist practitioners, policymakers and other HBMM stakeholders in implementing strategies for the sustainability of HBs.

This study aims to investigate the association of FinTech innovation (FinTechINN) and firm performance (FP) by considering the role of knowledge assets (KA) as a causal mechanism underlying the FinTechINN – FP association.

In this study, the authors consider panel data of 1,049 Chinese A-listed firm and construct a structural model for corporate FinTech innovation, knowledge assets and firm performance while considering endogeneity issues in analyses over the period of 2014–2022. The modified value added intellectual capital (VAIC) and research and development (R&D) expenses are used as a proxy measure for knowledge assets, considering governance and corporate performance measures.

According to the findings of this study FinTech innovation (FinTechINN) has a positive significant effect on firm performance. Particularly; the findings disclose that FinTech innovations has a link with knowledge assets, FinTech innovations indirectly affects firm performance, and the association between FinTech innovation and firm performance is partially mediated by knowledge assets (MVAIC and R&D expenses).

Rooted in the dynamic capability and resource-based view, this study pioneers an empirical exploration of the association of FinTech innovation with firm performance. Moreover, it introduces the novel dimension of knowledge assets (on firm-level), acting as a mediating factor with in this relationship.

Sustainability is essential to the ongoing operations of banks, though it is much less clear how Islamic corporate governance (ICG) promotes economic sustainability (ES) and thereby prevents bankruptcy. To explore the unexplored, this study aims to examine the efficacy of ICG in preventing bankruptcy and enhancing the ES of Islamic banks operating in Pakistan.

The current study measures ES through Altman's Z-score to analyze the level of the industry's stability and consequently examines the effect of ICG on the ES of Islamic banks in Pakistan for the post-financial-crises period. Using the country-level data, this study utilized a fixed-effect model and two-stage least squares (2SLS) techniques on balanced panel data spanning from 2009 to 2020 to provide empirical evidence.

The empirical results unveiled that board size and meetings have a significant positive influence on the ES while managerial ownership demonstrated an unfavorable effect on ES. Interestingly, the insignificant effect of women directors became significant with the inclusion of controlled variables. Overall, the findings indicate that ICG is an efficient tool for promoting ES in Islamic banks and preventing them from the negative effects of emerging crises.

The findings provide concrete insights for policymakers, regulators and other concerned stakeholders to execute a sturdy corporate governance system that not only oversees the economic, social and ethical aspects but also provides measures to alleviate the impacts of potential risks like the COVID-19 pandemic.

Examining the role of ICG in alleviating bankruptcy risk is an informative and useful endeavor for all social actors.

To the best of the authors’ knowledge, this study is one of the first efforts to provide evidence-based insights on the role of ICG in preventing bankruptcy and offers a potential research direction for ES.

This study aims to identify and prioritize the key practices and strategies for effective global sourcing and supply chain management (SCM).

The study uses a combination of Pareto analysis and multi-objective optimization based on ratio analysis research methodology to analyze and establish the relationships among the identified key practices and strategies. Pareto analysis enables organization to prioritize organizational efforts and resources by focusing on the most critical factors.

The study shows that the “eco-friendly sourcing strategy”, “lean manufacturing” and “tool cost analysis” are the top critical practices and strategy variables for global sourcing and SCM, whereas the “risk management”, “procurement strategy” and “leverage digital solutions” are the critical practices and strategy variables.

The findings of this research can also assist organizations in making informed decisions to optimize their global sourcing and supply chain operations.

By using these methods, this research paper gives valuable insights into the critical practices and strategies that can enhance efficiency, mitigate risks and drive success in global sourcing and SCM. The subjects and elements this study identified will serve as a framework and suggestions for further theoretical investigation and real-world implementations.

Though academic study on the subject is still in its early stages, there is growing interest in using blockchain technology for transforming the supply chain. The academic literature is divided and yet only includes studies evaluating how the supply chain has changed organizations. To comprehend the new phenomena, this study aims to investigate the factors of blockchain technology in driving supply chain transformation. To be more precise, the authors developed from the literature the most prevalent criteria for determining if supply chain transformations are ready to be scaled up.

This study followed a combination of two multi-criteria decision making methods evaluation based on distance from average solution and complex proportional assessment) methodology in this research: planning, investigating, executing out, establishing a rating of the criteria and evaluating it.

The study shows that the “organizational driver” and the “technology driver” are the factors most important to the transformation of the supply chain, whereas the “financial driver” and the “regulatory driver” are less important. This study also makes some managerial recommendations to address the factors impeding the supply chain’s transformation. Each factor’s significance was explored, and a proposed study agenda was also presented.

Although the main forces behind the transformation of the supply chain have been recognized, further research into statistical correlation is required to confirm how the various elements interact.

This research aids decision-makers in comprehending the key forces behind supply chain transformation. Managers and decision-makers might better predict and allocate the necessary resources to start the road toward digitization and make well-informed choices once these aspects have been investigated and understood.

In light of the pandemic’s effects on the world and the increase in businesses embracing the digital economy, the supply chain transformation is more important than ever. Beyond blockchain deployment and the pilot studies on digital transformation, there is a gap. The topics and factors this study uncovered will operate as a framework and recommendations for more theoretical investigation and practical applications.

Defining and validating a map of related technologies is critical for managers, investors and inventors. Because of the increase in the applications of and demand for semiconductor lasers, analyzing the technological position of developers has become increasingly critical. Therefore, the purpose of this study is to adopt the technological position analysis to identify mainstream technologies and developments relevant to semiconductor lasers.

Correspondence analysis and k-means cluster analysis, which are data mining techniques, are used to reveal strategic groups of major competitors in the semiconductor laser market according to their Patent Cooperation Treaty (PCT) patent applications.

The results of this study reveal that PCT patent applications are generally obtained for masers, optical elements, semiconductor devices and methods for measuring and that technology developers have varying technological positions.

Through position analysis, this study identifies the technological focuses of different manufacturers to obtain information that can guide the allocation of research and development resources.

This paper aims to investigate the theoretical and practical links between digital twin (DT) application in heritage facilities management (HFM) from a life cycle management perspective and to signpost the future development directions of DT in HFM.

This state-of-the-art review was conducted using a systematic literature review method. Inclusive and exclusive criteria were identified and used to retrieve relevant literature from renowned literature databases. Shortlisted publications were analysed using the VOSviewer software and then critically reviewed to reveal the status quo of research in the subject area.

The review results show that DT has been mainly adopted to support decision-making on conservation approach and method selection, performance monitoring and prediction, maintenance strategies design and development, and energy evaluation and management. Although many researchers attempted to develop DT models for part of a heritage building at component or system level and test the models using real-life cases, their works were constrained by availability of empirical data. Furthermore, data capture approaches, data acquisition methods and modelling with multi-source data are found to be the existing challenges of DT application in HFM.

In a broader sense, this study contributes to the field of engineering, construction and architectural management by providing an overview of how DT has been applied to support management activities throughout the building life cycle. For the HFM practice, a DT-cum-heritage building information modelling (HBIM) framework was developed to illustrate how DT can be integrated with HBIM to facilitate future DT application in HFM. The overall implication of this study is that it reveals the potential of heritage DT in facilitating HFM in the urban development context.

This study aims at proposing and testing a model delineating how and when the quality of a special B2B professional service, investment relations (IR), would drive corporate intangible value.

This study employs a proprietary dataset on voting records of an annual investment relations (IR) awards event and the corresponding company-level archival data for analysis. Regression analysis is used to test hypotheses.

IR service quality not only directly enhances corporate intangible value, but also indirectly boosts it via information transparency. While competitive intensity does not moderate the relationship between IR service quality and corporate intangible value, its moderating effect on the relationship between information transparency and this value is negative.

The findings advance academic understanding of the mechanism and boundary conditions underlying the complex and dynamic relationships among IR service quality, information transparency, corporate intangible value and competitive intensity. Future research endeavors to verify the present findings in other service and/or geographic settings would help establish their external validity.

The findings advise companies to expand the traditional role of IR by taking it as a powerful communication and relationship marketing tool to improve their visibility and attract investors.

The findings suggest that superior IR service would strengthen the company’s social bonding with institutional investors and effectively signal to them its commitment to good corporate governance practices.

Matching a proprietary dataset on IR voting records with the corresponding company-level archival data over a five-year period to investigate the performance implications of IR service quality within the Hong Kong context rectifies methodological limitation and geographic confinement of prior IR research.

The purpose of this study is to examine the influence of ESG practices on green innovation with the moderating effect of innovation orientation in Malaysian manufacturing listed companies.

This study employed a quantitative research approach by using a well-structured questionnaire for data collection. The questionnaire was distributed to 204 Malaysian manufacturing listed companies in consumer products and services sector. Finally, partial least square-structural equation modeling (PLS-SEM) was utilized to examine the relationship between constructs.

Based on stakeholder theory, results indicated that environmental, social and governance (ESG) practices significantly improve green innovation. The insignificant moderating effect of innovation orientation was identified between the relationship of environmental and social practices and green innovation. Interestingly, results affirmed the negative moderating effect between the relationship of governance practices and green innovation.

This study is limited to Malaysian manufacturing companies of consumer products and services sector in Bursa Malaysia. Hence, the findings of this study cannot be generalized to manufacturing companies of other geographical contexts.

This work provides constructive implications to management and policymakers of Malaysian manufacturing companies in strategic planning toward enhancing green innovation and developing business competitiveness to achieve sustainable business performance.

This research magnifies valuable insights into the literature through a comprehensive model that simultaneously investigates the relationships between ESG practices, innovation orientation and green innovation. In addition, this is the first attempt to investigate the influence of ESG practices on green innovation with a moderating effect of innovation orientation, which indeed strengthens the originality of this study.