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This paper seeks to define a theoretical model for the urban regeneration of mass housing areas based on citizen initiative, self-management and self-financing in the form of the neighbourhood cooperative. This paper aims to identify mechanisms for economic resource generation that enable the improvement of the urban surroundings and its buildings without assuming disproportionate economic burdens by the local residents based on two principles, the economies of scale and service provision.

The research is structured in three phases: a literature review of the different trends in self-financing for urban regeneration and the conceptual framework for the definition of a cooperative model; the definition of theoretical model by analysing community ecosystem, neighbourhood-based services and the requirements for its economic equilibrium; and the discussion of the results and the conclusions.

The results show the potential of the cooperative model to generate a social economy capable of reducing costs and producing additional resources to finance the rehabilitation process. The findings show not only the extent of economic advantages but also multiple social, physical and environmental benefits. Its implementation involves the participation of multiple actors, which is one of its significant advantages.

The main contribution is to approach comprehensive urban rehabilitation from a collaborative understanding, overcoming the main financing difficulties of the current practices based on public subsidy policies. The model also allows an ethical relationship to be built with supplier companies by means of corporate social responsibility.

Over the past 20 years, China's infrastructure has developed at an extraordinary speed. The current literature mainly focuses on the effects of political incentives on the infrastructure. However, this paper indicates that the structural change of China's land regime is an important clue and that the supernormal development of China's infrastructure is an explicable result for that.

This paper theoretically proves that in a politically centralized and economically decentralized economic entity with a public land-ownership regime, the self-financing mechanism formed by local officials through regulation of the land-grant price is the primary factor that influences the optimal supply volume of infrastructure in a region, in addition to political and economic incentives, and whether the self-financing mechanism can be formed or not depends on the structure of a country's land regime, which can help to explain the difference between the development of infrastructure in China and that in other developing countries from a theoretical angle.

The paper suggests that the mode is facing an important transformation toward land reform and new-type urbanization construction, and the replication and promotion of China's experience in infrastructure construction are of further significance under the Belt and Road Initiative as it provides a method for helping developing countries to eliminate infrastructure bottlenecks.

Through the test of multinational panel data, the paper indicates that the structural change of China's land regime around 1990 had an overall effect on the supernormal development of infrastructure in China. The paper indicates that the “land-based development mode” of China's infrastructure indeed contributed to the supernormal development of infrastructure in China, but there are still some shortcomings in this mode.

The paper aims to address the gap in the literature related to students’ mindsets and learning activities through investigation of the differences in students’ expectations of, feelings towards, and perceptions of an overseas study tour based on their mindset. The study provides an in-depth analysis of students with different mindsets and proposes the use of overseas tours and intercultural learning to foster students’ growth mindset.

An overseas study tour hosted by a self-financing tertiary institution in Hong Kong was selected for investigation. 13 sub-degree students participated in the study tour during the summer term in 2018. Two types of primary data – quantitative (i.e., a questionnaire survey) and qualitative (i.e., in-depth interviews) – of fixed mindset and growth mindset students were collected for analysis.

The findings indicate differences in students’ expectations of, feelings towards, and perceptions of an overseas study tour depending on whether they demonstrate a fixed or growth mindset. The growth mindset students had more and higher expectations of the study tour, all of which were related to personal growth and development. The fixed mindset students did not have as much of a desire for personal development and their expectations were easily met. Both growth and fixed mindset students had positive feelings and perceptions of the tour.

Research on the application value of overseas study tours in helping students from self-financing tertiary institutions develop a growth mindset is scarce, and thus warrants further investigation.

Kerala is one of India's most advanced states in human development and other social indices. This study aims to look at the management education scenario in Kerala from a macro-perspective and examines the existing trends, major issues and present challenges facing the sector.

The study is driven by previously unexplored secondary data published by India's apex technical education regulator–All India Council for Technical Education (AICTE). Qualitative and quantitative assessments are assimilated from the organization, dissection and categorization of unit-level data.

Business schools (B-schools) in the state are facing acute distress in enrolments. There are intra-regional variations in institution count and occupancy rates. The vast majority of the institutions have no accreditation at all. The entire sector is facing a protracted decline.

The study has relied primarily on descriptive statistics considering a single discipline within the higher education sector in Kerala. Future studies should look at other disciplines (engineering, medicine) simultaneously. Use of statistical methods like panel data regression would be beneficial to find hidden trends in cross-sectional and longitudinal time-series data.

Management education in Kerala is facing an existential crisis. This has implications for the state's economic development. The paper creates strong imperatives for government policymaking to forestall the complete decline of the sector.

A highly literate state with advanced human development indices need not be a suitable location for building a knowledge-based economy. Government policy has strong implications for the development and sustenance of higher education. The relationship between government and business schools are symbiotic.

The paper maps the progression of B-schools from local to global. A typology of privately funded B-schools is proposed. The conceptual framework advanced in this study can contribute to further literature development. The suggested policy initiatives are applicable not only to Kerala but also to other tightly regulated markets.

Studying abroad is not new for Hong Kong students, especially those from the middle class. For a variety of reasons, traversing to Mainland universities has been an unconventional path confined mostly to students who pursued specific programs, or had family or social ties. Beginning in 2012, an admission scheme was launched for Hong Kong students applying to Mainland universities. The purpose of this paper is to review the admission scheme.

This paper draws on both quantitative and qualitative data sources. It includes statistics from official records of students’ application and enrollment figures, and documents obtained from multiple sources, as well as qualitative data through interviews of Hong Kong students who are studying in the Mainland universities.

The key findings are that since the implementation of the admission scheme, the number of applicants is rather stable irrespective of the changing socio-economic and political context. With the preferential treatment for Hong Kong students, low tuition fees, government financial assistance and scholarships, most students still consider studying in the Mainland a backup plan rather than a first choice. The academic performance of the students and academic/career aspirations have influenced their choice and decisions.

This paper contributes through providing both primary and secondary data to help understand the level of acceptance on the scheme since its implementation. It also reveals the perceptions of the students who have made their choice to study cross the border. In facing the emergent economic, socio-cultural and political challenges, some policies recommendations are proposed to boost the acceptance of the scheme. Moreover, it fills the research gap on student mobility from Hong Kong to Mainland China in the corpus of literature.

We present an approach for pricing American put options with a regime-switching volatility. Our method reveals that the option price can be expressed as the sum of two components: the price of a European put option and the premium associated with the early exercise privilege. Our analysis demonstrates that, under these conditions, the perpetual put option consistently commands a higher price during periods of high volatility compared to those of low volatility. Moreover, we establish that the optimal exercise boundary is lower in high-volatility regimes than in low-volatility regimes. Additionally, we develop an analytical framework to describe American puts with an Erlang-distributed random-time horizon, which allows us to propose a numerical technique for approximating the value of American puts with finite expiry. We also show that a combined approach involving randomization and Richardson extrapolation can be a robust numerical algorithm for estimating American put prices with finite expiry.

This paper aims to illustrate the importance of the quality of Online Learning Physical Environment (OLPE) and Online Learning Self-efficacy (OLSE) in predicting academic performance in online learning, which was the primary mode of teaching during the outbreak of COVID-19 in Hong Kong. Policy recommendations were made based on the findings from a psychological perspective.

Responses from 104 Hong Kong undergraduate students were collected through a questionnaire survey. Data were analysed using multiple linear regression, simple linear regression, and Pearson correlation.

Despite the fact that OLSE showed no significant direct effect on academic performance in online learning, OLSE was positively correlated with and predictive of OLPE, while OLPE was positively correlated with and predictive of online learning performance. The findings indicated that undergraduate students from low-income families tended to have less superior academic performance, which was associated with poorer OLPE and OLSE.

The findings suggested that in order to alleviate learning inequality in online learning, policy makers may allocate funding to enhance OLPE and OLSE of undergraduate students from low-income families.

The study introduces a new approach to leverage-value relationship. Besides applying the classical regression models, the study deals with leverage as a continuous treatment variable implemented on the firm’s value using the dose-response function (DFR).

After proper model calibration and splitting the treatment (leverage) into ten doses, a response function is generated, which enables the realization of the dose level at which the firm’s value is maximized. Furthermore, the study tests the pecking order theory (POT) and the trade-off theory (TOT) using the threshold model to see whether firms are under or over-indebted. The analysis is carried out on panel data from small-medium enterprises (SMEs), providing more valuable insights than large and mature companies.

The study used two leverage measures: total liabilities ratio and bank debt ratio. Value is measured by the market capitalization and Tobin’s Q. In general, the study finds a positive relationship between leverage and value; POT is not strongly supported, firms are below their optimal leverage and there is a certain leverage dose that would maximize firms’ value.

Since the threshold model and DRF show that SMEs are under-indebted, firms could benefit from extra leverage doses without affecting the firm’s risk profile, especially in a low-interest rate regime, and the potential increase in public-private expenditure after Italy obtained the European Recovery Funds.

The study contributes to new knowledge and understanding of financial leverage from new methodological perspectives, offering valuable insights from SMEs using novel approaches.

Literature evidences that altruism and conscientiousness are very important discretionary behaviours within the broader framework of Organizational Citizenship Behaviour (OCB) among teaching community. The present study is intended to examine the effect of role clarity, perceived cohesion and felt responsibility on altruism and conscientiousness among college teachers in Kerala.

A questionnaire-based survey was conducted among 354 college teachers, and the causal effect was examined using Partial Least Square-based structural equation modelling.

Validity and reliability of the model were established through measurement model evaluation. Explanatory power of the model was established. Cohesion and felt responsibility significantly predicted altruism, but the effect of role clarity on altruism was not significant. Effect of cohesion, felt responsibility and role clarity on conscientiousness was significant.

The study contributed to the existing theory on antecedents of OCB. The model has high levels of predictive accuracy – role clarity, cohesiveness and felt responsibility – capable of explaining the discretionary behaviour among college teachers.

The paper investigates if the process that led to the birth of the Euro Area had a significant impact in homogenizing the capital structure decisions of European firms since the first introduction of the common currency.

A large sample of firms was constructed, and a Tobit-censored regression model was utilized to investigate the determinants of firms' observed capital structures. The Black–Scholes–Merton model was used to infer market values of assets, as well as the volatility of those values, from the observed market values of equity and the corresponding volatility. The existing differences in national tax rules were considered for estimating firm-specific marginal tax rates.

It was found that, despite the currency union and the institutional harmonization process, certain factors still play a different role. In particular, the impact of profitability is consistent with the pecking order view in some countries, and with the trade-off theory in others. Assets risk, measured as the annualized volatility of the market enterprise value, is the best predictor of observed leverage ratios. The sector of activity is significant in determining leverage decisions even when assets' risk is taken into account. Despite the monetary union and the increased financial and institutional integration in the Euro Area, the country of origin still plays a significant role in capital structure decisions, suggesting that other country-level factors may affect firms' financing behaviour.

The paper indicates that, despite the long harmonization process of institutions, regulations and public budget required to join the Euro, firms' financing decisions are still affected by country-specific factors once the common currency is introduced. Therefore, new entrant countries in the Euro area should not expect their companies to immediately conform with those located in other countries within the common currency area.

This article investigated the impact of the currency change from national currencies to the Euro on the determinants of capital structure choices. It was shown that, despite the long harmonization process that led to the birth of the Euro Area, national factors still affect firms' financing decisions. This provides guidance for policymakers in countries that are planning to join the Euro about the impact this will have on firms' financing decisions in the entrant country.