Based on the 2017 conference "'New Reality' and Russian Markets" held at Harvard University, this book brings together world-renowned thinkers to offer the latest empirical research on recent ...financial risks, institutional policies, and financial stability.
This paper compares today’s corporate management in developing markets (BRICS countries) vs. developed markets (the OECD countries). The influence of determining a new social corporate management ...season considering social distancing amid the COVID-19 pandemic on emerging markets' economic growth is ascertained and set apart from corporate management in developing markets. This paper helps clarifying and better understanding the role of corporate social responsibility in the conditions of an economic crisis against the background of the COVID-19 pandemic. This work provides scientific arguments that allow solving critical discussions regarding the advantages (growth of quality of life, an increase of business's competitiveness) and costs (limitation of economic growth, non-commercial use of profit, and increased price for goods and services) of domestic production and consumption. In the long-term, responsible financial practices return all investments and allow countries to better cope with a crisis. The research supplies a new view of corporate social responsibility as a measure of crisis management. It reflects its advantages at a time of social distancing in the conditions of the COVID-19 pandemic. The institutionalization of corporate social responsibility in emerging countries is not predetermined by internal factors (approach to doing business or organizational culture), if not by external factors (market status, state regulation, and consumer awareness). These circumstances prove the high complexity of strengthening corporate social responsibility in developing countries. In the conditions of social distancing – due to the COVID-19 pandemic – corporate social responsibility goes to a new level. In both developing and developed countries, one of the most widespread manifestations of corporate social responsibility is the entrepreneurship's transition to the remote form of activities. This envisages the provision of remote employment for workers and the online purchase of goods and services for consumers.
Everywhere you look, there are signs of the Fourth Industrial Revolution. R&D on leading digital technologies is conducted around the world, exploring novel technologies aimed at cyber-physical ...systems, such as the Internet of Things (IoT), Blockchain, 3D Printing, Virtual Reality, AI, and many more. With these rapid changes in technology comes social evolution and the potential for future social crises. Understanding Industry 4.0: AI, the Internet of Things, and the Future of Work looks to determine the most probable oncoming changes in key areas of the economy, to highlight the most important professions of the future, and to offer recommendations for their correct selection and successful mastering. Including sections on careers in education, medicine, R&D, and agriculture, among others, economics experts Bruno S. Sergi, Elena G. Popkova, Aleksei V. Bogoviz, and Tatiana N. Litvinova explore the vastly changing modern workplace and offer a guide to navigating through and adapting to this evolution.
For researchers and students of management, economics, and business, this is an unmissable exploration of the new frontier of Industry 4.0.
•Stock markets react negatively to cases and deaths from COVID-19.•Impacts of COVID-19 on emerging markets are different from developed markets.•Impacts of COVID-19 during rising infection are ...different from stabilizing infection.
Based on the supply of stock market returns hypothesis, we argue that the unprecedented adverse shock of COVID-19 on the countries’ economic growth translates into a negative shock to the stock markets. According to the institutional theory, we also argue that the impact of COVID-19 in emerging countries is different from developed countries. Based on the overreaction hypothesis, we expect that the market reaction during the stabilizing period of COVID-19 spread is different from the market reaction during the infection period. Using high-frequency daily data across 53 emerging and 23 developed countries from January 14 to August 20, 2020, we find that COVID-19 cases and deaths adversely affect stock returns and increase volatility and trading volume. Cases and deaths affected stock returns and volatility in the emerging markets, while only cases of COVID-19 affected stock returns, volatility, and trading volume in the developed markets. COVID-19 cases and deaths are related to returns, volatility, and trading volume for emerging countries during the rising infection of COVID-19 (pre-April 2020), while cases and mortality rates are related to returns, volatility, and trading volume in developed countries during the stabilizing spread (post-April 2020). Therefore, the emerging markets’ investors seem to react to COVID-19 cases and mortality rates differently from those in the developed markets across two different periods of COVID-19 infection.
PurposeThe purpose of this article is to determine the future proportion and variants of usage of human intellect and artificial intelligence (AI) in entrepreneurship of industry 4.0 that fits social ...entrepreneurship the most. It could be convergence (simultaneous utilization during the same entrepreneurial processes with the emphasis on unique features by the terms of the competition) or divergence (usage during different business processes by the terms of labor division).Design/methodology/approachThe authors determine the influence of usage of human capital and AI on the efficiency of social entrepreneurship. The authors identify the perspective directions of usage of AI in social entrepreneurship and evaluate the readiness and interest in the implementation of these directions of concerned parties. The authors also model the optimal proportions and the variant of usage of human intellect and AI in social entrepreneurship in the conditions of Industry 4.0 in the future (until 2030).FindingsIt is found that social entrepreneurship will use the opportunities of Industry 4.0 for optimization of its activities until 2030, but will refuse from full automatization, using human intellect and AI at the same time.Originality/valueThe most perspective directions of application of AI at social companies are a collection of social goods and services, marketing studies and promotion of social goods and services. Neither convergence nor divergence of human and artificial intellectual capital does not fully conform to the interests of concerned parties. The most preferable (optimal) variant of usage of human intellect and AI in social entrepreneurship in the Industry 4.0 is human intelligent decision support.
Tourism in the Mediterranean Sea: An Italian Perspective is the product of a collaborative group of experts in the field of tourism. Academics, whose research focuses on regional tourism system ...governance, alongside several experts from the tourism sector, contributed to the volume with distinct issues related to the tourism industry.
•The deregulation process played a key role in terms of airport efficiency.•The technical efficiency of 32 Italian airports has been evaluated.•The methodological approach has been twofold: DEA and ...Tobit model.•The main results show that efficiency is independent of an airport’s size.•The findings highlight the decisive role of public shareholders in small airports.
By applying a DEA (Data Envelopment Analysis) framework and Tobit analysis, this paper aims to measure 32 Italian airports’ technical efficiency and investigate how several characteristics impact on their productivity and sustainability. Our findings show that some Italian hubs are technically efficient, although smaller airports that are dominated by low-cost carriers prove to be not least productive. Another conclusion of this paper is that efficiency and environmental impact is independent of an airport’s size, although the size matters in determining an airport’s superior performance. This article highlights how the Italian public shareholder’s system became decisive to increase efficiency in small airports due to the lack of private financing.
The paper aims to test whether corporate social responsibility (CSR) performance affects the costs of debt, equity, and a weighted average of those two components in BRICS countries. Theoretically, a ...decline in the cost of capital is linked to a decrease in the firm risk. We measure CSR performance using the environmental, social, and governance (ESG) combined score from the Thomson Reuters EIKON database for non‐financial enterprises between 2014 and 2019. A panel regression analysis has been run in order to test whether (1) the inclusion in the ESG combined ranking or (2) the level of the scores for ESG combines is linked to a decline in the cost of capital. Empirical evidence suggests that the level of the ESG combined score does not affect the firm's financial risk. Inclusion in the ESG combined index decreases the cost of equity and the average cost of capital instead. Firms that received an ESG combined score pay lower returns to investors.
With chapters on FinTech, the cost of technological growth, and innovation risk management, Tech, Smart Cities and Regional Development in Contemporary Russiagrapples with ideas about technology and ...the intertwined issues that Russia faces in the 21st Century.
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