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1 – 10 of 10Ruifeng Hu, Weiqiao Xu and Yalin Yang
Owing to increased energy demands, China has become the world’s top CO2 emitter, with electricity generation accounting for the majority of emissions. Therefore, the Chinese…
Abstract
Purpose
Owing to increased energy demands, China has become the world’s top CO2 emitter, with electricity generation accounting for the majority of emissions. Therefore, the Chinese Government aspires to achieve a low-carbon transformation of the electric industry by enhancing its green innovation capacity. However, little attention has been paid to the green development of electric technology. Thus, this paper aims to uncover the spatiotemporal evolution of electric technology in the context of China’s low-carbon transformation through patent analysis.
Design/methodology/approach
Using granted green invention patent data for China’s electric industry between 2000 and 2021, this paper conducted an exploratory, spatial autocorrelation and time-varying difference-in-differences (DID) analysis to reveal the landscape of electric technology.
Findings
Exploratory analysis shows that the average growth rate of electric technology is 8.1%, with spatial heterogeneity, as there is slower growth in the north and west and faster growth in the south and east. In addition, electric technology shows spatial clustering in local areas. Finally, the time-varying DID analysis provides positive evidence that low-carbon policies improve the green innovation capacity of electric technology.
Research limitations/implications
The different effects of the low-carbon pilot policy (LCPC) on R&D subjects and the LCPC’s effectiveness in enhancing the value of patented technology were not revealed.
Originality/value
This paper reveals the spatiotemporal evolutionary characteristics of electric technology in mainland China. The results can help the Chinese Government clarify how to carry out innovative development in the electric industry as part of the low-carbon transformation and provide a theoretical basis and research direction for newcomers in this field.
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Dalal Aassouli, Muhammed-Shahid Ebrahim and Rohaida Basiruddin
This paper aims to propose a liquidity management solution for Islamic financial institutions (IFIs) that concurs with sustainable development and financial stability.
Abstract
Purpose
This paper aims to propose a liquidity management solution for Islamic financial institutions (IFIs) that concurs with sustainable development and financial stability.
Design/methodology/approach
The study is a qualitative research. It uses the exploratory research methodology, specifically the content analysis approach, to gather primary data and identify and interpret relevant secondary data and Sharīʿah concepts. The purpose is to develop a liquidity management solution for IFIs. The proposal is based on the Unleveraged Green Investment Trust (UGIT) model, which is consistent with Basel III regulatory requirements. In developing the UGIT model, the exploratory research was complemented by a case study to examine the UGIT solution for the particular case of renewable energy.
Findings
The model demonstrates how financial innovation can meet both financial stability and sustainable development objectives, thereby achieving the spirit of Islamic finance. The structure further highlights the importance of regulatory and fiscal frameworks to enhance liquidity management and investor appeal for green financial instruments.
Originality/value
This study suggests a structure of UGIT to enable IFIs to meet their liquidity management needs while promoting sustainable development.
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Hoang Long Chu, Nam Thang Do, Loan Nguyen, Lien Le, Quoc Anh Ho, Khoi Dang and Minh Anh Ta
This paper aims to assess the economic impacts of the European Union’s Carbon Border Adjustment Mechanism (CBAM) on Vietnam.
Abstract
Purpose
This paper aims to assess the economic impacts of the European Union’s Carbon Border Adjustment Mechanism (CBAM) on Vietnam.
Design/methodology/approach
We constructed a general equilibrium model to assess the economic impacts of the CBAM on the macroeconomic indicators of Vietnam. We also constructed a generic partial equilibrium model to provide a zoomed-in view of the impact on each group of CBAM-targeted commodities, which is not possible in the general equilibrium model. Both the general equilibrium and the partial equilibrium models were calibrated with publicly available data and a high number of value sets of hyperparameters to estimate the variations of the estimated impacts.
Findings
The results suggest that the current form of the EU’s CBAM is unlikely to produce substantial effects on the overall economy of Vietnam, mainly because the commodities affected by it represent a small portion of Vietnam’s exports. However, at the sectoral level, the CBAM can reduce production outputs and export values of steel, aluminium, and cement.
Social implications
The CBAM by itself may not lead to significant decreases in greenhouse gas emissions, but it could provide a rationale for implementing carbon pricing strategies, which might result in more significant economic effects and help in reducing greenhouse gas emissions. This highlights the necessity of supplementary policies to tackle global climate change.
Originality/value
We constructed economic models to evaluate the impacts of the European Union’s Carbon Border Adjustment Mechanism on Vietnam, both at the macroeconomic level and zooming in on directly impacted groups of commodities.
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Marco Bellucci, Damiano Cesa Bianchi and Giacomo Manetti
This study aims to review the academic literature on the utilization of blockchain in accounting practice and research to identify potential opportunities for further scientific…
Abstract
Purpose
This study aims to review the academic literature on the utilization of blockchain in accounting practice and research to identify potential opportunities for further scientific investigation and to provide a framework for how accounting practices are impacted by blockchain.
Design/methodology/approach
This study is based on a systematic literature review (SLR) of 346 research products available on Scopus, which were mapped with bibliometric analyses and critically discussed in relation to three main topics: the impact of blockchain on accounting and auditing, cryptoassets and finance, business models and supply chain management.
Findings
Blockchain has many potential implications for accounting practice and research. In addition to providing the state-of-the-art of accounting research on blockchain and additional avenues for further studies, this study discusses why practitioners are interested in this technology: triple-entry bookkeeping, the inalterability of transactions, the automation of repetitive tasks that do not require discretionary choices, the representation of cryptocurrencies in financial statements, value-chain management, social and environmental auditing and reporting and business model innovation.
Originality/value
The novel contribution of this study is integrated and threefold. First, this SLR provides a clear picture of the state of the accounting research on blockchain using bibliographic and narrative analyses. Second, it investigates how accounting and auditing practices are impacted by blockchain. Third, it contributes to the accounting literature with its discussion of the potential future research trends related to blockchain for accounting.
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Michael Chak Sham Wong, Emil Ka Ho Chan and Imran Yousaf
This paper examines the impact of Central Bank Digital Currencies (CBDCs), regulated stablecoins and tokenized traditional assets on the cryptocurrency market, following the…
Abstract
Purpose
This paper examines the impact of Central Bank Digital Currencies (CBDCs), regulated stablecoins and tokenized traditional assets on the cryptocurrency market, following the guidelines set by the Basel Committee. This study aims to analyze the implications for secure storage, cross-border transfers and necessary investments.
Design/methodology/approach
The paper uses a policy analysis approach to assess the potential effects of the Basel Committee’s regulations on CBDCs, regulated stablecoins and tokenized traditional assets. It explores their impact on the cryptoasset market, strategies of central and commercial banks, payment systems and risk management.
Findings
The adoption of CBDCs, regulated stablecoins and tokenized traditional assets is expected to grow rapidly in the coming years. It raises concerns about secure storage, cross-border transfers and required investments. Central banks are likely to introduce CBDCs and authorize stablecoin issuance, aiming for efficient monetary policies and risk management. Basel III regulations may lead to asset tokenization by banks, reducing asset size and increasing fee-based income.
Originality/value
This paper provides insights into the potential impact of the Basel Committee's regulations on CBDCs, regulated stablecoins and tokenized traditional assets. It contributes to the understanding of the evolving cryptoasset market and the strategies of central and commercial banks in adopting these technologies. The findings offer valuable information for policymakers, regulators and market participants in navigating the changing landscape of digital assets.
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Tasruma Sharmeen Chowdhury and S.M. Kalbin Salema
This study aims to identify the factors that influence the willingness of Bangladeshi retail investors to invest in ṣukūk.
Abstract
Purpose
This study aims to identify the factors that influence the willingness of Bangladeshi retail investors to invest in ṣukūk.
Design/methodology/approach
The authors surveyed Bangladeshi retail investors using a structured questionnaire to understand their perspectives on potential investment in ṣukūk. The authors considered the behavioral aspects of retail investors and the desired ṣukūk features to analyze the demand side. Factors and regression analyses were performed to identify the persuading factors.
Findings
The results indicate that investor awareness is a fundamental factor in potential investments in ṣukūk. Investors perceive the security represented by government and third-party guarantees as a persuasive feature of ṣukūk. The tradability and tenor of ṣukūk also affect the investment intention. Sharīʿah consciousness of the investors also plays a significant role in their investment decisions.
Research limitations/implications
One limitation of this study is that it incorporates potential individual investors only, and precludes institutional investors. In the future, there is scope for research to explore the demand factors impacting institutional investors of ṣukūk in Bangladesh.
Practical implications
The authors expect that the study will aid policymakers and ṣukūk issuers in crafting strategies to cater to the needs of Bangladeshi retail investors.
Originality/value
This study is the earliest research conducted in Bangladesh to determine the factors impacting the willingness of individual investors to make their potential investments in ṣukūk. To the best of the authors' knowledge, no study has analyzed the desired ṣukūk features from the perspective of Bangladeshi retail investors.
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Hongjuan Wu, Queena K. Qian, Ad Straub and Henk J. Visscher
The recent promotion of prefabricated housing (PH) in China has resulted in a prosperous period for its implementation. However, transaction costs (TCs) cause low economic…
Abstract
Purpose
The recent promotion of prefabricated housing (PH) in China has resulted in a prosperous period for its implementation. However, transaction costs (TCs) cause low economic efficiency to stakeholders and hinder the further promotion of PH. No relevant study has yet been made to investigate the TCs and their causes in the PH field. This paper identifies critical TCs and explores the influencing factors from the developers' perspective.
Design/methodology/approach
Semi-structured interviews and a questionnaire survey were used to collect data about TCs and influencing factors. The most influential factors are identified with their impacts on particular TCs, yielded from correlation analysis and logistic regression.
Findings
From the developers' perspective in China's PH market, this study identified that the most concerning sources of TCs are: hidden costs arising from disputes, extra workloads from design changes, learning costs, intensive communication and coordination in assembly and unexpected information costs in decision-making. The use of an ordered logistic regression approach indicates that the four most influential factors are: qualification of the general contractor, mandatory local policies, owner type and competitiveness of the developer.
Practical implications
To reduce the TCs, experiencing learning and ensuring the design scheme's complicity are recommended to save information searching and exchanging costs. The implications for the PH developers are for them to: (1) professionalize their own organization and (2) procure high-qualified general contractors. For the policymakers, this means they should improve the clarity of the mandatory local policies for PH step-by-step.
Originality/value
By applying the TCs economic theory, this study explores factors that influence TCs in the PH industry. It sheds light on the influencing mechanism behind the TCs in the context of prefabricated housing.
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David M. Herold, Sara Saberi, Mahtab Kouhizadeh and Simon Wilde
In response, the purpose of this paper is to provide theoretical frameworks about the organizational uncertainty behind what and when to adopt blockchain technology and their…
Abstract
Purpose
In response, the purpose of this paper is to provide theoretical frameworks about the organizational uncertainty behind what and when to adopt blockchain technology and their implications on transaction costs. The immature nature and the absence of standards in blockchain technology lead to uncertainty in government organizations concerning the adoption (“what to adopt”) and the identification of the right time (“when to start”).
Design/methodology/approach
Using transaction cost theory and path dependency theory, this paper proposes two frameworks: to assess transaction cost risks and opportunities costs; and to depict four different types of transaction costs outcomes regarding blockchain adoption.
Findings
This paper identifies various theoretical concepts that influence blockchain adoption and combine the two critical constructs of “bounded rationality” and the “lock-in effect” to categorize the multiple transaction costs outcomes for blockchain adoption.
Research limitations/implications
Although existing research in blockchain highlights mainly the potential benefits of blockchain applications, only a little attention has been given to frameworks that categorize potential transaction costs outcomes under uncertainty, in particular from organizational theorists.
Originality/value
Both frameworks advance the understanding of the decision-making behind blockchain adoption and synthesize the current literature to offer conceptual clarity regarding the varied implications and outcomes linked to the uncertainty regarding transactions costs stemming from blockchain technology.
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