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Article
Publication date: 8 December 2023

Claudia Susana Gómez López and Karla Susana Barrón Arreola

This study aims to examine the relationship between the environment and tourism flows, as well as the economic variables of the 32 states of Mexico for the period 1999–2019 based…

Abstract

Purpose

This study aims to examine the relationship between the environment and tourism flows, as well as the economic variables of the 32 states of Mexico for the period 1999–2019 based on data availability. The related literature studying tourism and environmental impacts is scarce at a national level, with most of them being local case studies. Some international studies find that if the relationship exists, it is weak or nonexistent, using CO2 as a proxy in most cases.

Design/methodology/approach

The present study uses panel data and cointegration panel methodologies, while also using geographic information systems to observe the distribution of variables at a state level between tourism and environmental variables.

Findings

The findings of the study are as follows: state gross domestic product, the inertia of environmental variables (i.e. volume of water treatment and solid waste), occupied rooms (proxy variable for tourism activity) and average temperature have an impact on the contemporary evolution of environmental variables; national and international tourist variables have no impact on the environment; the panels are integrated in such a way that there is a long-term equilibrium between states and some environmental care variables; and no conclusive evidence is found regarding the impact of tourism activity on the considered environmental variables.

Research limitations/implications

The main limitations and areas of opportunity of the work refer to the amount of data available over time and the precision of the measurement of the variables. The availability, temporality and frequency of the data are also limitations of the research. An example of this is the nonexistence of CO2 emissions at the state level. Additionally, studying other countries and regions for which there are limitations of data and applied studies is also a challenge.

Practical implications

The results are important for economies (in growth) and societies whose economic growth depends on tourism flows and have done little to reverse the damage that tourism has on the environment.

Social implications

The models can contribute to study the relation between tourism and environmental variables and could be extended to regions, states and provinces for decision-making on actions to be taken for the present and future.

Originality/value

The originality of the research is innovative for the region: Mexico, Central and Latin America. There are no works that have studied these problems with this methodology and these variables. In terms of originality, the classic models of panel data and cointegration of panel data are useful and easily replicable for others to use for different countries. The results are relevant because there is apparently no relationship between tourism and some environmental variables in the short run, but there exists a weak and strong long-run relation between some of them.

设计/方法/方法

本研究采用面板数据和协整面板模型方法, 同时利用地理信息系统(gis)观察州一级层面旅游和环境方面的变量分布。

目的

本研究根据数据可用性, 研究了墨西哥32个州1999–2019年期间环境与旅游流量及经济变量之间的关系。在国家层面上研究旅游与环境影响的相关文献很少, 而且大多是地方的个案研究。一些国际研究发现, 即使有这种关系, 大多数案例中使用二氧化碳作为替代变量, 这种关系也是很弱或不存在。

调查结果

i)国家国内生产总值, 环境变量的惯性(即水处理量和固体废物量), 占用的房间(旅游活动的代理变量)和平均温度对环境变量的现有演化有影响。ii)国内和国际旅游变量对环境没有影响。iii)面板数据以这样一种方式集成, 即国家和一些环境变量之间存在一种长期平衡。iv)关于旅游活动对所考虑的环境变量的影响没有确凿的证据。

研究局限/启示

这项工作的主要局限和机会领域是指随着时间的推移可获得的数据量和变量测量的精度。数据的可用性、时效性和频率也是本研究的局限性。这方面的一个例子是在州一级不存在二氧化碳排放。此外, 由于数据和应用研究的局限, 研究其他国家和地区也是一个挑战。

实际意义

研究结果对经济增长依赖旅游业流量的经济体和社会具有重要意义, 这些经济体和社会对扭转旅游业对环境的破坏方面做得还不够。

社会影响

这些模型有助于研究旅游业与环境变量之间的关系, 并可推广到地区、州和省, 以制定当前和未来的行动决策。

创意/价值

这项研究的原创性对该地区(墨西哥、中美洲和拉丁美洲)来说是具有创新性的。没有人用这种方法和这些变量研究过这些问题。就原创性而言, 面板数据和面板数据协整的经典模型是有用的且易于复制, 可供其他国家使用。 研究结果具有一定的相关性, 因为旅游业与部分环境变量在短期内不存在明显的相关性, 但在它们中的一些变量在长期内存在着或强或弱的相关性。

Propósito

Se examina la relación entre medio ambiente y flujos turísticos, así como variables económicas de los 32 estados de México para el período 1999-2019 basado en la disponibilidad de datos. La literatura relacionada que estudia el turismo y los impactos ambientales es escasa a nivel nacional, siendo la mayoría de ellos estudios de casos locales. Estudios internacionales encuentran que, si la relación existe, es débil o inexistente, utilizando el CO2 como un indicador en la mayoría de los casos.

Diseño/metodología/enfoque

Se utilizaron metodologías de datos de panel y cointegración de panel, además sistemas de información geográfica para observar la distribución de variables a nivel estatal.

Resultados

i) El Producto Interno Bruto Estatal, la inercia de las variables ambientales (es decir, volumen de tratamiento de agua y residuos sólidos), habitaciones ocupadas (proxy de la actividad turística) y temperatura promedio tienen un impacto en la evolución contemporánea de las variables ambientales, ii) las variables turísticas nacionales e internacionales no tienen un impacto en el medio ambiente, iii) los paneles están integrados de tal manera que existe un equilibrio a largo plazo entre turismo, crecimiento económico y algunas variables ambientales, y iv) no se encuentra evidencia concluyente con respecto al impacto de la actividad turística en las variables ambientales consideradas.

Limitaciones/implicaciones de la investigación

Las principales limitaciones y áreas de oportunidad del trabajo se refieren a la cantidad de datos disponibles en el tiempo y a la precisión de la medición de las variables. La disponibilidad, temporalidad y frecuencia de los datos también son limitaciones de la investigación. Un ejemplo de ello es la inexistencia de emisiones de CO2 a nivel estatal. Además, el estudio de otros países y regiones para los que existen limitaciones de datos y estudios aplicados también es un reto.

Implicaciones prácticas

Los resultados son importantes para las economías (en crecimiento) y las sociedades cuyo crecimiento económico depende de los flujos turísticos y que han hecho poco por invertir los daños que el turismo produce en el medio ambiente.

Implicaciones sociales

Los modelos pueden contribuir a estudiar la relación entre el turismo y las variables medioambientales y podrían extenderse a regiones, estados y provincias para la toma de decisiones sobre las acciones a emprender para el presente y el futuro.

Originalidad/valor

El artículo proporciona un análisis innovador y exploratorio hacia una perspectiva futura que agrega valor al turismo y la planificación para la sostenibilidad. La relación entre turismo y medio ambiente se ha estudiado durante varios años. La UNTWO ha abordado las consecuencias del turismo en el medio ambiente, particularmente, más basura, mayor consumo de agua, emisiones de CO2 y otros aspectos. Pocos trabajos estudian la relación entre estas variables.

La originalidad de la investigación es innovadora para la región: México, América Central y América Latina. No existen trabajos que hayan estudiado estos problemas con esta metodología y estas variables.

En términos de originalidad, los modelos clásicos de datos de panel y cointegración de datos de panel son útiles y fácilmente replicables para que otros los utilicen en diferentes países.

Los resultados son relevantes porque aparentemente no hay una relación entre el turismo y algunas variables ambientales a corto plazo, existe una relación débil y fuerte a largo plazo entre algunas de ellas.

Open Access
Article
Publication date: 27 February 2024

Maria Pia Paganelli

Is there a secret recipe for economic growth?

Abstract

Purpose

Is there a secret recipe for economic growth?

Design/methodology/approach

No, there is no recipe, but we can extrapolate some pieces of advice from Adam Smith.

Findings

An economy can leave behind its “dull” stagnant state and grow when its markets expand, when the productivity of its workers increases thanks to high compensations, which are seen as incentives to work harder and when lobbying and cronyism are kept at bay. Luck plays a role too, but these three ingredients are necessary, even if not sufficient, for an economy to grow and thus be “cheerful.”

Originality/value

These three aspects – expansion of market, liberal compensation of workers and lobbying – especially combined, have often been underestimated in Smith’s understanding of the possible sources of economic growth.

Details

EconomiA, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1517-7580

Keywords

Article
Publication date: 9 June 2023

Paula Hearn Moore, Ben Le and Donna L. Paul

This paper examines how manufacturing firms impacted by the nitrogen oxides (NOx) Budget Trading Program (NBP) strategically managed working capital to release funds for increased…

Abstract

Purpose

This paper examines how manufacturing firms impacted by the nitrogen oxides (NOx) Budget Trading Program (NBP) strategically managed working capital to release funds for increased costs and mitigate the negative impact on firm performance.

Design/methodology/approach

The study uses a panel data set including 11,302 manufacturing firm-year observations listed on the US exchanges during the period 2000–2008. The authors use Tobin's Q to proxy for firm performance, and cash holding, cash conversion cycle (CCC), days sales outstanding (DSO), days sales inventory (DSI) and days payable outstanding (DPO) for working capital management (WCM). The empirical analysis is conducted using both ordinary least squares (OLS) and propensity score matching (PSM) regressions.

Findings

The authors find that firms respond to the higher utility costs imposed by the NBP by decreasing CCC, DSO and DSI. This active WCM response partially mitigated the impact of increased compliance costs on performance for firms affected by the NBP. Results are robust in PSM regressions.

Research limitations/implications

Climate change is a global issue that has attracted increasing attention in recent years. This study shows how firms can adjust short-term financing strategies to address the costs of compliance with climate change regulation.

Originality/value

The paper contributes to the emerging literature on corporate finance and climate policy actions. The authors use the unique experimental setting of the NBP to examine the regulatory impact on corporate financial management. The authors demonstrate how firms used active WCM to mitigate the negative performance impact of regulatory compliance with the NBP, providing novel insight on the implication of compliance with climate change legislation.

Details

International Journal of Managerial Finance, vol. 20 no. 2
Type: Research Article
ISSN: 1743-9132

Keywords

Article
Publication date: 21 August 2023

Gleb Glukhov, Ivan Derevitskii, Oksana Severiukhina and Klavdiya Bochenina

Using the data set about the restaurants from different countries and their customer's feedback, the purpose of this paper is to address the following issues: in the restaurant…

Abstract

Purpose

Using the data set about the restaurants from different countries and their customer's feedback, the purpose of this paper is to address the following issues: in the restaurant industry, how have user behavior and preferences changed during the COVID-19 restrictions period, how did these changes influence the performance of recommendation algorithms and which methods can be proposed to improve the quality of restaurant recommendations in a lockdown scenario.

Design/methodology/approach

To assess changes in user behavior and preferences, quantitative and qualitative data analysis was performed to assess the changes in user behavior and preferences. The authors compared the situation before and during the COVID-19 restrictions period. To evaluate the performance of restaurant recommendation systems in a non-stationary setting, the authors tested state-of-the-art collaborative filtering algorithms. This study proposes and investigates a filtering-based approach to improve the quality of recommendation algorithms for a lockdown scenario.

Findings

This study revealed that during the COVID-19 restrictions period, the average rating values and the number of reviews have changed. The experimental study confirmed that: the performance of all state-of-the-art recommender systems for the restaurant industry has significantly degraded during the COVID-19 restrictions period; and the accuracy and the stability of restaurant recommendations in non-stationary settings may be improved using the sliding window and post-filtering methods.

Practical implications

The authors propose two novel methods: the sliding window and closed restaurants post-filtering method based on the CatBoost classification model. These methods can be applied to classical collaborative recommender algorithms and increase the value of metrics under non-stationary conditions. These methods can be helpful for developers of recommender systems and massive aggregators of restaurants and hotels. Thus, it benefits both the app end-user and business owners because users honestly rate restaurants when they receive good recommendations and do not downgrade because of external factors.

Originality/value

To the best of the authors’ knowledge, this paper provides the first extensive and multifaceted experimental study of the impact of COVID-19 restrictions on the effectiveness of restaurant recommendation systems in different countries. Two novel methods to tackle restaurant recommendations' performance degradation are proposed and validated.

研究目的

利用关于不同国家餐厅及其顾客反馈的数据, 我们探索了以下问题:(i) 在餐饮行业, 用户行为和偏好在COVID-19限制期间如何改变, (ii) 这些变化如何影响推荐算法的性能, 以及 (iii) 可以提出哪些方法来改进封锁情景下的餐厅推荐质量。

研究方法

为了评估用户行为和偏好的变化, 本研究进行了定量和定性数据分析, 对比了COVID-19限制期前后的情况。为了评估非稳态环境中餐厅推荐系统的性能, 我们测试了最先进的协同过滤算法。我们提出并研究了一种基于过滤的方法, 以提高封锁情景下推荐算法的质量。

研究发现

研究发现, 在COVID-19限制期间, 平均评分和评论数量发生了变化。实验研究证实:(i) 在COVID-19限制期间, 所有最先进的餐厅行业推荐系统的性能显著下降; (ii) 使用滑动窗口和后过滤方法可以改进非稳态环境下餐厅推荐的准确性和稳定性。

实践意义

我们提出了两种新方法:基于CatBoost分类模型的关闭餐厅后过滤和滑动窗口方法。这些方法可以应用于经典的协同过滤推荐算法, 并在非稳态条件下提高指标值。这些方法对于推荐系统的开发者和大规模餐厅和酒店聚合平台都有帮助。因此, 这对于应用的最终用户和企业主都有好处, 因为当用户得到良好的推荐时, 他们会诚实地对餐厅进行评价, 而不会因为外部因素降低评分。

研究创新

本文首次提供了COVID-19限制对不同国家餐厅推荐系统有效性影响的广泛多方面的实验研究, 并提出和验证了两种解决餐厅推荐性能下降问题的新方法。

Article
Publication date: 2 February 2024

He Du, Ming Yang, Songyan Wang and Tao Chao

This paper aims to investigate a novel impact time control guidance (ITCG) law based on the sliding mode control (SMC) for a nonmaneuvering target using the predicted interception…

Abstract

Purpose

This paper aims to investigate a novel impact time control guidance (ITCG) law based on the sliding mode control (SMC) for a nonmaneuvering target using the predicted interception point (PIP).

Design/methodology/approach

To intercept the target with the minimal miss distance and desired impact time, an estimation of time-to-go is introduced. This estimation results in a precise impact time for multimissiles salvo attack the target at the same time. Even for a large lead angle, the desired impact time is achieved by using the sliding mode and Lyapunov stability theory. The singularity issue of the proposed impact time guidance laws is also analyzed to achieve an arbitrary lead angle with the desired impact time.

Findings

Numerical scenarios with desired impact time are presented to illustrate the performance of the proposed ITCG law. Comparison with the state-of-art impact time guidance laws proves that the guidance law in this paper can enable the missile to intercept the target with minimal miss distance and final impact time error. This method enables multiple missiles to attack the target simultaneously with different distances and arbitrary lead angles.

Originality/value

An ITCG law based on sliding mode and Lyapunov stability theory is proposed, and the switching surface is designed based on a novel estimation time-to-go for the missile to intercept the target with minimal miss distance. To intercept the target with initial arbitrary lead angles and desired impact time, the authors analysis the singular issue in SMC to ensure that the missile can intercept the target with arbitrary lead angle. The proposed approach for a nonmaneuvering target using the PIP has simple forms, and therefore, they have the superiority of being implemented easily.

Details

Aircraft Engineering and Aerospace Technology, vol. 96 no. 2
Type: Research Article
ISSN: 1748-8842

Keywords

Article
Publication date: 29 September 2022

Yifeng Zhu, Ziyang Zhang, Hailong Zhao and Shaoling Li

Five-level rectifiers have received widespread attention because of their excellent performance in high-voltage and high-power applications. Taking a five-level rectifier with…

Abstract

Purpose

Five-level rectifiers have received widespread attention because of their excellent performance in high-voltage and high-power applications. Taking a five-level rectifier with only four-IGBT for this study, a sliding mode predictive control (SMPC) algorithm is proposed to solve the problem of poor dynamic performance and poor anti-disturbance ability under the traditional model predictive control with the PI outer loop.

Design/methodology/approach

First, mathematical models under the two-phase stationary coordinate system and two-phase synchronous rotating coordinate system are established. Then, the design of the outer-loop sliding mode controller is completed by establishing the sliding mode surface and design approach rate. The design of the inner-loop model predictive controller was completed by discretizing the mathematical model equations. The modulation part uses a space vector modulation technique to generate the PWM wave.

Findings

The sliding mode predictive control strategy is compared with the control strategy with a PI outer loop and a model predictive inner loop. The proposed control strategy has a faster dynamic response and stronger anti-interference ability.

Originality/value

For the five-level rectifier, the advantages of fast dynamic influence and parameter insensitivity of sliding mode control are used in the voltage outer loop to replace the traditional PI control, and which is integrated with the model predictive control used in the current inner loop to form a novel control strategy with a faster dynamic response and stronger immunity to disturbances. This novel strategy is called sliding mode predictive control (SMC).

Details

Circuit World, vol. 50 no. 1
Type: Research Article
ISSN: 0305-6120

Keywords

Article
Publication date: 19 December 2022

Gizem Uzuner, Bünyamin Fuat Yıldız, Murat Anıl Mercan and Wing-Keung Wong

The specific objective of the study is to investigate the presence of natural rate of crime rates in selected emerging economies by using panel unit roots. The majority of the…

Abstract

Purpose

The specific objective of the study is to investigate the presence of natural rate of crime rates in selected emerging economies by using panel unit roots. The majority of the literature examines the issue using conventional unit root tests in a country-specific context. Meanwhile, there is no panel unit root investigation has been undertaken considering both cross-sectional dependence (CD) and structural changes.

Design/methodology/approach

As a result, this study is to fill the aforementioned gap and validate the natural rate of crime rates for 10 countries by using a Fourier panel unit root test. The advantage of the test is that structural shifts are modelled as gradual or smooth changes with a Fourier approximation, and it also accounts cross-sectional dependency. Thus, the Fourier panel unit root test may have better performance in capturing potential changes in the nature of data.

Findings

The result of the conventional unit roots test shows evidence of the hysteresis effect in crime, as it stands does not adequately account for smooth transitions or breaks. On contrary, the Fourier panel unit root test confirms the natural rate hypothesis in crime rates. The present results highlight the detrimental effects of crime cannot be abated by short-run deterrence policies.

Originality/value

Contrary to previous studies, the theoretical implications of the study imply that the empirical models consider the dynamic nature of crime rates should account for natural rate properties instead of the hysteresis assumption.

Details

Kybernetes, vol. 53 no. 3
Type: Research Article
ISSN: 0368-492X

Keywords

Article
Publication date: 4 March 2024

Shnehal Soni and Manogna RL

This study aims to examine the impact of renewable energy consumption on agricultural productivity while accounting for the effect of financial inclusion and foreign direct…

Abstract

Purpose

This study aims to examine the impact of renewable energy consumption on agricultural productivity while accounting for the effect of financial inclusion and foreign direct investment in Brazil, Russia, India, China and South Africa (BRICS) countries during 2000–2020.

Design/methodology/approach

The study has used the latest data from World Bank and International Monetary Fund databases. The dependent variable in the study is agricultural productivity. Renewable energy consumption, carbon emissions, financial inclusion and foreign direct investment are independent variables. Autoregressive distributed lag (ARDL) approach was used to examine the short-run and long-run impact of renewable energy consumption, carbon emissions, foreign direct investment and financial inclusion on agricultural productivity.

Findings

The findings imply that consumption of renewable energy, carbon emissions and foreign direct investment have a positive impact on agricultural productivity while financial inclusion in terms of access does not seem to have any significant impact on agricultural productivity. Providing farmers, access to financial services can be beneficial, but its usage holds more importance in impacting rural outcomes. The problem lies in the fact that there is still a gap between access and usage of financial services.

Research limitations/implications

Policymakers should encourage the increase in the usage of renewable energy and become less reliant on non-renewable energy sources which will eventually help in tackling the problems associated with climate change as well as enhance agricultural productivity.

Originality/value

Most of the earlier studies were based on tabular analysis without any empirical base to establish the causal relationship between determinants of agricultural productivity and renewable energy consumption. These studies were also limited to a few regions. The study is one of its kind in exploring the severity of various factors that determine agricultural productivity in the context of emerging economies like BRICS while accounting for the effect of financial inclusion and foreign direct investment.

Details

International Journal of Energy Sector Management, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1750-6220

Keywords

Article
Publication date: 10 January 2023

Mehdi Mili, Asma Yahiya Al Amoodi and Hana Bawazir

This study aims to investigate the asymmetric impact of daily announcements regarding COVID-19 on investor sentiment in the stock market.

Abstract

Purpose

This study aims to investigate the asymmetric impact of daily announcements regarding COVID-19 on investor sentiment in the stock market.

Design/methodology/approach

This study uses a Non-Linear Autoregressive Distribution Lag (NARDL) model that relies on positive and negative partial sum decompositions of the Coronavirus indicators. Five investor sentiments had been used and the analysis is conducted on the full sample period from 24th February 2020 to 25th March 2021.

Findings

The results show that new cases have a greater impact on investor sentiment compared to daily announcements of new deaths related to COVID-19. In addition to revealing a significant impact of new COVID-19 new cases and new death announcements on a daily basis on investor sentiment over the short- and long-term, this paper also highlights the nonlinearity and asymmetry of this relationship in the short and long run. Investors' sentiments are more affected by negative news regarding Covid 19 than positive news.

Originality/value

Financial markets have been severely affected by COVID-19 pandemic. This study is the first to measure the extent of reaction of investors to positive and negative announcements of COVID-19. Interestingly, this study examines the asymmetric effect of daily announcements on new cases and new deaths by COVID-19 on investor sentiments and derive many implications for portfolio managers.

Details

Review of Behavioral Finance, vol. 16 no. 1
Type: Research Article
ISSN: 1940-5979

Keywords

Article
Publication date: 29 November 2023

Mengxia Du, Qiao Wang, Yan Zhang, Yu Bai, Chunqiu Wei and Chunyan Liu

As to different angles of attack and nonlinear problems caused by high temperatures in coexisting hypersonic aircraft, people mainly rely on fluid software for research but lack…

Abstract

Purpose

As to different angles of attack and nonlinear problems caused by high temperatures in coexisting hypersonic aircraft, people mainly rely on fluid software for research but lack analysis of flow mechanisms. Owing to computational difficulties, few people use numerical algorithms to combine them for discussion. Hence, this study aims to make a deep inquiry into the laminar flow and heat transfer of compressible Newtonian fluid in hypersonic aircraft with small attack angles.

Design/methodology/approach

In this paper, on the basis of mass, momentum and energy conservation laws, the governing equations of the hypersonic boundary layer are established. Viscosity, specific heat capacity and thermal conductivity are considered nonlinear functions concerning temperature. In virtue of the MacCormack finite difference method, the stationary numerical solutions are solved directly, and the validity of the algorithm is verified.

Findings

The results demonstrate that at Mach number 5, compared to the 0° attack angle, the maximum temperature near-wall at the 3° attack angle increases by about 25%. An enjoyable phenomenon is discovered, where the position corresponding to the maximum wall shear force shifts back as the attack angle and Mach number increase. The relationship between the near-wall maximum temperature versus attack angle and Mach number is fitted through numerical calculation results.

Originality/value

Empirical formulas can be used to estimate heat transfer characteristics at small attack angles, which will guide the design of aircraft thermal protection systems.

Details

International Journal of Numerical Methods for Heat & Fluid Flow, vol. 34 no. 3
Type: Research Article
ISSN: 0961-5539

Keywords

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