Topic Review
Globalization Impact on Multinational Enterprises
The world is rapidly becoming a global village, a term that is increasingly relevant to multinationals alike. These conglomerates’ development and growth encompass all regions of the world. The globalization era has transformed many multinational enterprises into highly efficient and productive entities that outweigh small countries and grow in power and control.
  • 2953
  • 21 Apr 2021
Topic Review
Prof. Michael McAleer
Current Appointments University Research Chair Professor, Department of Finance, Asia University, Taiwan; Erasmus Visiting Professor of Quantitative Finance, Econometric Institute, Erasmus School of Economics, Erasmus University Rotterdam, The Netherlands; Adjunct Professor, Department of Economic Analysis ans ICAE, Complutense University of Madrid (founded 1293), Spain; Adjunct Professor, Department of Mathematics and Statistics, University of Canterbury, New Zealand; and IAS Adjunct Professor, Institute of Advanced Sciences, Yokohama National University, Japan. Distinctions FASSA, FIEMSS, FMSSANZ, DFIETI Fellow, Journal of Econometrics Fellow, Econometric Reviews Editorial Fellow, Econometric Reviews Multa Scripsit, Econometric Theory  Publications 880+ journal articles and books.  
  • 1483
  • 10 Nov 2020
Topic Review
Sustainability and Sharing Economy
The sharing economy is usually related to sustainability, and it is framed as: (a) an economic opportunity, (b) a more sustainable form of consumption and (c) a pathway to an equitable and sustainable economy [1]. 
  • 1055
  • 27 Oct 2020
Topic Review
Capital Structure
Capital structure is a firm’s mix of debt and equity financing. It is one of the most controversial areas of finance. Many of the results obtained in capital structure theory over the last 50-60 years have been very influential and led their authors to great international recognition. Among the researchers who contributed significantly to capital structure theory, note Nobel Prize Award winners Franco Modigliani, Merton Miller, Joseph Stiglitz, and most recently Jean Tirole. More research and more results are expected in this area in near future.
  • 817
  • 09 Jun 2022
Topic Review
Renewable Energy Technologies in Households
Energy sources used in households could be divided into the following two main groups: fossil fuels, which include natural gas, oil and coal, and renewable energy technologies, which include both conventional biomass and modern sources such as solar, wind and geothermal energy. Solar photovoltaic (PV) and solar thermal, micro wind, heat pumps and small-scale biomass heating technologies can be distinguished as the main renewable energy technologies in households.
  • 780
  • 27 Oct 2020
Topic Review
Chia-Lin Chang
Chia-Lin Chang PhD (Economics), Université Catholique de Louvain, Belgium Current Appointments University Distinguished Professor, Professor of Economics, Professor of Finance, Director of the Agricultural and Natural Resources Research Centre (ANRRC), National Chung Hsing University, Taiwan; Distinguished Visiting Professor, Faculty of Economic and Financial Sciences, University of Johannesburg, South Africa; Adjunct Professor, Department of Quantitative Economics, Complutense University of Madrid (founded 1293), Spain; Adjunct Chair Professor, Asia University, Taiwan. Distinctions Elected Fellow (FMSSANZ), Modelling and Simulation Society of Australia and New Zealand (FMSSANZ) Biennial Medalist, MSSANZ, 2015 Elected Distinguished Fellow (DFIETI), International Engineering and Technology Institute (IETI) Annual Scientific Award, IETI, 2017  
  • 681
  • 10 Nov 2020
Topic Review
COVID-19 Infections and Fake News
The world has been changed irrevocably by the infectious severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2) that causes the coronavirus disease 2019 (COVID-19) that was first identified in Wuhan, Hubei province, China in December 2019. COVID-19 affects everyone everywhere. A separate and significant, though not necessarily as infectious, malady affecting many, though not all, individuals worldwide, is “Fake News”, known alternatively as yellow journalism, junk news, pseudo news, false news, alternative facts, hoaxes, misinformation, disinformation, fabricated news, corrupt news, unfathomable nonsense, or outright lies, which are typically based on provably false statements, and are distributed widely through mainstream news media and social media. The commentary presents a brief history of COVID-19 and fake news, and existing international efforts to deal with each of these infections.
  • 605
  • 17 Feb 2021
Topic Review
Entropy and Banks' Income Diversification
We collected data pertaining to Chinese listed commercial banks from 2008 to 2016 and found that the competition between banks is becoming increasingly fierce. Commercial banks have actively carried out diversification strategies for greater returns, and the financial reports show that profits are increasingly coming from the non-interest income benefits of diversification strategies. However, diversification comes with risk. We built a panel threshold model and investigated the effect of income diversification on a bank’s profitability and risk. Diversification was first measured by the Herfindahl–Hirschman index (HHI), and the results show that there is a nonlinear relationship between diversification and profitability or risk does exist. We introduced an interesting index based on the entropy to test the robustness of our model and found that a threshold effect exists in both our models, which is statistically significant. We believe the combination of the entropy index (ENTI) and the HHI enables more efficient study of the relationship between diversification and profitability or risk more efficiently. Bankers and their customers have increasingly been interested in income diversification, and they value risk as well. We suggest that banks of different sizes should adopt the corresponding diversification strategy to achieve sustainable development.
  • 568
  • 02 Nov 2020
Topic Review
Analysis of Business Efficiency
Measuring efficiency and identifying the sources of potential inefficiency in particular are very important steps in improving the competitive position of the enterprises in their continuous development, sustainability, overall behavior in the current corporate environment and security aspects. 
  • 546
  • 28 Jan 2022
Topic Review
Urban Fragility
Urban fragility is one of the big challenges for the late-modern city coping with the growing external pressures (from the environment) and internal tensions (within the social system), typically referable to the socio-cultural and political-economic climate, definitely characterising the current "Age of Changes". A broad institutional context is involved in that undertaking, and many studies and reports show how fragility is linked above all to the growing complexity of the cities. The ever-increasing population, extension, density and cultural mixite, as well as the fast “filtering up and down” processes, are some symptoms of the combination of two fundamental drivers. Firstly, the exponential technological progress—mostly concerning the geographical and digital accessibility—has been encouraging far more people to claim a better socio-economic status, which urban location, by definition, is symbol of. Secondly, the progressive human/environmental unfairness of economy over the planet and the related increase in insecurity, push the transfer of large masses of the population towards the richer countries of the developed geo-economic areas, and in particular towards the larger, more heterogeneous, complex and vibrant cities. This new climate involves the accountability of the neoliberal model allowing a limited number of subjects to concentrate the largest part of the liquidity created as a result of the progressive “financial abstraction” of the real wealth over the era of post-globalization, that is the age of the contemporary archipelago-economies. The development of the city has always gone together with the spread and reinforcement of the financial institutions more able to give a monetary shape to the flows of wealth, thus indirectly increasing the part of the surplus of social product intended to the social overhead capital; the latter is at the same time cause and effect of the concentration of wealth and people, activities and tensions, conflicts and hopes (in one word, of value) in urban shapes. On the urban-scale, in turn, such processes have been occurring creating and populating denser and denser built areas at the expenses of other ones (decaying historic centers or peripheral neighborhoods) progressively neglected and jeopardized. The coexistence of such different value density degrees increases the fragility of the city as a whole; the most visible and permanent tracks of these inequalities reflect in the urban shape and namely in its economic form that is the urban capital value shape, displayed by the real estate market price map. Some remarks about the concept of fragility in the field of territorial studies can help to better understand how the urban eco-social system deals with it. The perspective of the “real estate-scape”, in fact, assumes the social and urban fragility issue, since one of the main focuses of the urban renovation planning process in its broad lines. The colloquial meaning of “fragility” closely relates to its physical definition concerning the tendency of a solid material to break abruptly, without any yielding deformation, which has previously occurred. In the urban studies some insights need to be done to understand a conceptual significance of fragility, considering its original causes and those effects typically concerning the current drift of the urban phenomenon. Since the above early definition does not take into account the driving forces of the urban fragility and their most perceptible effects, a further and more extensive meaning of it can be derived from material sciences, thus highlighting the deep and constitutive causes of it. Fragility is “the property that characterizes how rapidly the dynamics of a material slow down as it is cooled toward the glass transition: materials with a higher fragility have a relatively narrow glass transition temperature range, while those with low fragility have a relatively broad glass transition temperature range”. By metaphorizing such definition, and referring to the relationship between the socio-economic situation of a city and the real estate capital asset value, an urban system can be considered more fragile when the “socio-economic cooling” (i.e., a decrease in rights and incomes) gives rise to sudden, pathological and irreversible fall of the real estate market prices; on the contrary, an urban system seems to be more resilient when such effects are slower and easily metabolized, and can also be reversed when an opposite cause occurs. Furthermore, “physically, fragility may be related to the presence of dynamical heterogeneity in glasses, as well as to the breakdown of the usual Stokes–Einstein relationship between viscosity and diffusion”.
  • 543
  • 14 Jul 2020
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