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Topic Review
Sustainability Vision Theory
Sustainability vision theory means a vision should convey enduring values and a lasting higher-order purpose, so as to guide employees and all other stakeholders to what is really meaningful to them in their path toward realizing the vision. Strong, productive culture always starts with a vision statement. When a vision statement is genuine and simply displayed prominently, it can assist in orienting stakeholders toward achieving the vision. In doing so, corporate sustainability strategies should be formulated according to the vision. Certainly, the strategic focus is on maximizing values to a wide range of stakeholders. A vision statement as a leadership tool reflects a clear indication whether organizational leaders care about strategic sustainability. Indeed, ensuring corporate sustainability requires an integration of the two dimensions of society and environment into the vision, culture and operations, which suggests a large-scale transformation is needed, as these two dimensions are not often taken into account in organizational visions.
  • 2.9K
  • 09 Jul 2021
Topic Review
ESG Integration into the Business Model
The integration of environmental, social, and governance (ESG) into the business model means considering ESG issues in the existing business model, which is defined by four factors: value proposition, value creation, value delivery, and value capture.
  • 2.9K
  • 14 Mar 2022
Topic Review
Revitalization of Fishing Village Tourism
Fishing villages and oceans offer various resources and include excellent natural environments and unique cultures that can make such villages attractive spaces to meet the health, culture, and environmental needs of individuals. However, as society has developed and the environment has changed, the catch, which is the major source of income in fishing villages, has declined significantly worldwide, making it difficult to address regional economic issues. Fishing villages that have lost their ability to survive are gradually facing extinction, and there are real problems linked to the survival of fishing communities. Rural areas, in a similar manner to fishing villages, are incorporating tourism in regional development in an attempt to solve the crisis of agriculture, which has itself lost the ability to support entire villages. As a result, tourism has come to be recognized as a representative means of revitalizing rural areas. 
  • 2.8K
  • 21 Jul 2021
Topic Review
Peppercorn (Legal)
In legal parlance, a peppercorn is a metaphor for a very small cash payment or other nominal consideration, used to satisfy the requirements for the creation of a legal contract. It is featured in Chappell & Co Ltd v Nestle Co Ltd ( AC 87), which stated that "a peppercorn does not cease to be good consideration if it is established that the promisee does not like pepper and will throw away the corn". What is unusual about the term is that it came into the language when peppercorns were extremely expensive; coming, as they exclusively did, from the Dutch Moluccas. Yet today, the term is more-or-less synonymous with ”a pittance“ — something of minimal value.
  • 2.8K
  • 01 Nov 2022
Topic Review
Smart Farming
Smart farming: the technological innovation adoption in agriculture requires an innovative conceptualization and management of the several resources in light of the increasingly being available data. An example of an innovative methodology and criteria capable of organizing data and exploiting such information to optimize the use of technologies and primary resources used in production processes is presented
  • 2.8K
  • 18 Jan 2022
Topic Review
Fixed Exchange-Rate System
A fixed exchange rate, sometimes called a pegged exchange rate, is a type of exchange rate regime in which a currency's value is fixed against either the value of another single currency to a basket of other currencies or to another measure of value, such as gold. There are benefits and risks to using a fixed exchange rate. A fixed exchange rate is typically used to stabilize the value of a currency by directly fixing its value in a predetermined ratio to a different, more stable, or more internationally prevalent currency (or currencies) to which the value is pegged. In doing so, the exchange rate between the currency and its peg does not change based on market conditions, unlike flexible exchange regime. This makes trade and investments between the two currency areas easier and more predictable and is especially useful for small economies that borrow primarily in foreign currency and in which external trade forms a large part of their GDP. A fixed exchange-rate system can also be used to control the behavior of a currency, such as by limiting rates of inflation. However, in doing so, the pegged currency is then controlled by its reference value. As such, when the reference value rises or falls, it then follows that the value(s) of any currencies pegged to it will also rise and fall in relation to other currencies and commodities with which the pegged currency can be traded. In other words, a pegged currency is dependent on its reference value to dictate how its current worth is defined at any given time. In addition, according to the Mundell–Fleming model, with perfect capital mobility, a fixed exchange rate prevents a government from using domestic monetary policy to achieve macroeconomic stability. In a fixed exchange-rate system, a country’s central bank typically uses an open market mechanism and is committed at all times to buy and/or sell its currency at a fixed price in order to maintain its pegged ratio and, hence, the stable value of its currency in relation to the reference to which it is pegged. To maintain a desired exchange rate, the central bank during the depreciation of the domestic money, sells its foreign money in the reserves and buys back the domestic money. This creates an artificial demand for the domestic money, which increases its exchange rate. In case of an undesired appreciation of the domestic money, the central bank buys back the foreign money and thus flushes the domestic money into the market for decreasing the demand and exchange rate. The central bank from its reserves also provides the assets and/or the foreign currency or currencies which are needed in order to finance any imbalance of payments. In the 21st century, the currencies associated with large economies typically do not fix or peg exchange rates to other currencies. The last large economy to use a fixed exchange rate system was the People's Republic of China, which, in July 2005, adopted a slightly more flexible exchange rate system, called a managed exchange rate. The European Exchange Rate Mechanism is also used on a temporary basis to establish a final conversion rate against the euro from the local currencies of countries joining the Eurozone.
  • 2.8K
  • 02 Nov 2022
Topic Review
2010 Flash Crash
The May 6, 2010, Flash Crash, also known as the Crash of 2:45, the 2010 Flash Crash or simply the Flash Crash, was a United States trillion-dollar stock market crash, which started at 2:32 p.m. EDT and lasted for approximately 36 minutes.:1 Stock indexes, such as the S&P 500, Dow Jones Industrial Average and Nasdaq Composite, collapsed and rebounded very rapidly. The Dow Jones Industrial Average had its second biggest intraday point drop (from the opening) up to that point, plunging 998.5 points (about 9%), most within minutes, only to recover a large part of the loss. It was also the second-largest intraday point swing (difference between intraday high and intraday low) up to that point, at 1,010.14 points. The prices of stocks, stock index futures, options and exchange-traded funds (ETFs) were volatile, thus trading volume spiked.:3 A CFTC 2014 report described it as one of the most turbulent periods in the history of financial markets.:1 When new regulations put in place following the 2010 Flash Crash proved to be inadequate to protect investors in the August 24, 2015 flash crash—"when the price of many ETFs appeared to come unhinged from their underlying value"—ETFs were put under greater scrutiny by regulators and investors. On April 21, 2015, nearly five years after the incident, the U.S. Department of Justice laid "22 criminal counts, including fraud and market manipulation" against Navinder Singh Sarao, a trader. Among the charges included was the use of spoofing algorithms; just prior to the Flash Crash, he placed thousands of E-mini S&P 500 stock index futures contracts which he planned on canceling later. These orders amounting to about "$200 million worth of bets that the market would fall" were "replaced or modified 19,000 times" before they were canceled. Spoofing, layering, and front running are now banned. The Commodity Futures Trading Commission (CFTC) investigation concluded that Sarao "was at least significantly responsible for the order imbalances" in the derivatives market which affected stock markets and exacerbated the flash crash. Sarao began his alleged market manipulation in 2009 with commercially available trading software whose code he modified "so he could rapidly place and cancel orders automatically." Traders Magazine journalist, John Bates, argued that blaming a 36-year-old small-time trader who worked from his parents' modest stucco house in suburban west London for sparking a trillion-dollar stock market crash is a little bit like blaming lightning for starting a fire" and that the investigation was lengthened because regulators used "bicycles to try and catch Ferraris." Furthermore, he concluded that by April 2015, traders can still manipulate and impact markets in spite of regulators and banks' new, improved monitoring of automated trade systems. As recently as May 2014, a CFTC report concluded that high-frequency traders "did not cause the Flash Crash, but contributed to it by demanding immediacy ahead of other market participants.":1 Some recent peer-reviewed research shows that flash crashes are not isolated occurrences, but have occurred quite often. Gao and Mizrach studied US equities over the period of 1993–2011. They show that breakdowns in market quality (such as flash crashes) have occurred in every year they examined and that, apart from the financial crisis, such problems have declined since the introduction of Reg NMS. They also show that 2010, while infamous for the Flash Crash, was not a year with an inordinate number of breakdowns in market quality.
  • 2.7K
  • 30 Nov 2022
Topic Review
Economic Complexity
Economic complexity, which links the productive structure of a country with its knowledge, labour, and sophistication, seems to raise new challenges for the environment’s preservation and quality. The relationship between economic complexity and the environment is multi-faced and creates unimagined challenges for humanity in its path toward social and economic progress. 
  • 2.7K
  • 22 Jan 2022
Topic Review
Sustainability Performance & Sustainable Banking
In the light of Agenda 2030 awareness of sustainability is steadily growing all over the world. Devastating phenomena like pandemics (Sustainable Development Goal 3 (SDGs—Agenda 2030)), poverty (Sustainable Development Goal 1 (SDGs—Agenda 2030)) as well as climate change (Sustainable Development Goal 13 (SDGs—Agenda 2030)) threaten humanity, calling for more sustainable solutions. Although economic growth (Sustainable Development Goal 8 (SDGs—Agenda 2030)) is one of the principal goals for a sustainable future, little research has been devoted to the interface of corporate social responsibility (CSR) and sustainability and their contribution to the financial sector, in view of sustainable banking. Even fewer are the studies concerning sustainable banking in Greece. This paper attempts a comparative overview of sustainability integration into businesses, focusing on the banking industry. The current theoretical analysis initially provides an extended review of the CSR and sustainability concepts, which is followed by a comprehensive analysis of non-financial disclosures (NFDs) and their business value, providing some evidence from Greece. 
  • 2.7K
  • 15 Jun 2021
Topic Review
Liquid versus Solid Consumption
Sharing economy is nowadays a particularly important facet of modern society. It is driven by digitalization that allows firms to interact with their customers on a daily basis by the need of reducing the environmental impact of both companies and individual actions and by the growing consciousness for environment that consumers are developing day by day. New models of consumption, such as the liquid one, are becoming very frequent, shaping countries’ productive systems and consumers’ habits.
  • 2.6K
  • 23 Dec 2021
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