Intention towards renewable energy investments in Malaysia: extending theory of planned behaviour

Does biogas energy influence the sustainable development of entrepreneurial business? An application of the extended theory of planned behavior

As a result of air pollution and accelerated climate change, entrepreneurship is gradually becoming a deciding factor in the global conversation about saving the planet with renewable energy sources. To sustain the economy and entrepreneurial culture for future generations, researchers and entrepreneurs seek environmentally friendly methods for supporting entrepreneurial enterprises. Fossil fuel-based energy has significantly impeded the country's sustainable development. Pakistan lacks research examining the connection between biogas energy technology and entrepreneurship. This study aims to cover this void in the literature by employing the theory of planned behavior to investigate bioenergy as a business prospect for supportable monetary growth. The primary data comprises 358 comprehensive questionnaire survey respondents. PLS-SEM verifies the model and examines the suppositions. According to pragmatic findings, all views are positively and substantially associated with the sustainable progress of business enterprises implementing biogas energy. In contrast, social media awareness had no moderating effect on the dependent variable. Consequently, social media awareness substantially modifies the associations between all independent variables adopting biogas energy. The results of this research indicate the standing of altering social customs regarding private enterprise, increasing businesspersons' consciousness of these matters, reforming controlling arrangements, and highlighting the assistance of business events made possible by biogas energy technology, which increases businesspeople's investment returns. Conclusively, the study's limits and approvals for future research are emphasized.

Economic development, social media awareness, and technological innovation in biogas sector under climate change in the post-COVID-19 pandemic conditions

After COVID-19, financing for emerging nation reserves in renewable energy bases was deemed a crucial aspect of sustainable development. Investing in biogas energy plants can be highly beneficial for lowering the use of fossil fuels. Using a survey of shareholders, investors, biogas energy professionals, and active social media participants in Pakistan, this study evaluates the intentions of individual investors to invest in biogas energy plants. The primary purpose of this study is to increase investment intent for biogas energy projects following COVID-19. This study focuses on financing biogas energy plants in the post-COVID-19 era and evaluates the research's assumptions using partial least squares structural equation modeling (PLS-SEM). The study employed the technique of purposive sampling to acquire data for this investigation. The results indicate that attitudes, perceived biogas energy benefits, perceived investment attitudes, and supervisory structure evaluations inspire one's propensity to finance biogas vitality plant efforts. The study found a link between eco-friendly responsiveness, monetary benefits, and investors' actions. The aspiration of investors to mark such reserves was set up to be unpretentious by their risk aversion. Conferring to the facts, evaluating the monitoring structure is the critical factor. The previous studies on investment behavior and other forms of pro-environmental intent and action yielded contradictory results. In addition, the regulatory environment was evaluated to see how the theory of planned behavior (TPB) affects financiers' objectives to participate in biogas power plants. The consequences of the study indicate that feelings of pride and discernment of energy expansively affect people's desire to invest in biogas plants. Biogas energy efficacy has little effect on investors' decisions to invest in biogas energy plants. This study offers policymakers practical ideas on enhancing investments in biogas energy plants.

Effect of Consumption Value on Consumer Willingness to Consume GM Food: A Post-COVID-19 Analysis

In this research, we debate the critical challenges posed by the COVID-19 pandemic such as food scarcity, by examining the influence of consumption values on consumers’ willingness to consume genetically modified (GM) food in the presence of consumer food attitudes, animosity, and ethnocentrism, which could be the one possible option to deal with the food scarcity problem. The proposed relationship could help to understand the complex societal problem of food scarcity and import dependency in the food sector before and after the crisis. Therefore, based on the theory of consumption values, we investigated government actions, consumer attitudes, and their willingness to consume GM food through 1340 valid USA responses and 1065 Chinese responses. We observed that COVID-19 doubled the number of malnourished people in 2020 relative to 2019, while consumption values, to some extent, changed consumer food attitudes and were inclined toward other food alternatives such as GM food regardless of governmental support for GM food in both USA and China. Moreover, this research enables governments, policymakers, market practitioners, and other stakeholders to use the COVID-19 crisis as an opportunity to negotiate with other countries to share their food technology along with imports.

The relationship between financial development and renewable energy consumption in South Asian countries

We analyse how financial development and renewable energy consumption are linked in the selected countries of South Asia using data covering from 1990 to 2018. On the indication of cross-sectional dependency among the variables of the models, we apply second-generation panel unit root tests and cointegration tests to check stationarity properties and long-run cointegrating relationships. We find that variables are stationary at the first difference, and long-run cointegration exists. By applying robust heterogeneous and cross-section augmented dynamic estimators, we find that growth in GDP increases renewable energy consumption by about 0.50-1.56%; however, it reduces by 0.01-0.03% after particular thresholds. Furthermore, on average, an increase in financial development reduces the propensity of renewable energy consumption by 0.07-0.15% in the long-run. On the other hand, panel causality results show unidirectional relationships from GDP to financial development and from financial development to renewable energy consumption but not vice versa. We suggest that the selected countries revisit and restructure the renewable energy policy and focus on institutional reforms to strengthen renewable energy development in the upcoming years.

Unfolding FDI, Renewable Energy Consumption, and Income Inequality Nexus: Heterogeneous Panel Analysis

We aim to examine the nexus between Foreign Direct Investment (FDI), Renewable Energy Consumption (REC), and income inequality across selected High-Income Countries (HIC), Upper Middle-Income Countries (UMIC), Lower Middle-Income Countries (LMIC), and Low-Income Countries (LIC). Given the cross-sectional dependency, slope homogeneity, and stationarity properties, we find that the aforementioned variables across all the regions are cointegrated in the long run (LR). For LR estimation, we use the Cross-Sectional-Autoregressive Distributed Lag (CS-ARDL) approach. For the HIC and the UMIC, an increase in FDI increases REC, which in turn causes income inequality to decrease. In the case of LMIC, an increase in REC causes an increase in FDI and decreases income inequality. However, we could not establish a significant relationship with the LIC. We also provide some useful recommendations, such as increased institutional efficiency and promotion of renewable energy investments through higher access to finance.

Theory of planned behavior explains males' and females' intention to receive COVID-19 vaccines differently

Uptake of COVID-19 vaccines is an important measure to curb the transmission of the coronavirus. Before the vaccines were available, numerous studies found that people had a moderate-to-high intention to receive the vaccines. Several studies have also used the theory of planned behavior (TPB) to predict people’s COVID-19 vaccination intention with three elements (i.e. attitudes, subjective norms, and perceived behavioral control) . However, the vaccination rate falters after the vaccines became available, and there were few updated data documenting people’s vaccination intention and how well TPB can explain their intention. In addition, studies investigating other outcomes found that the predictive utilities of TPB often varied across gender, but such gender differences received little consideration in the literature of COVID-19 vaccination intention. To help fill these gaps, we examined the associations between TPB elements and people’s intention to receive COVID-19 vaccines and the moderation of gender in the context of vaccination campaign. Participants were 405 Chinese citizens. They reported on the three TPB elements and intention to receive vaccines in the coming months. Descriptive results showed that participants’ vaccination intention was moderate. Results of path analysis showed that subjective norms and perceived behavioral control were positively related to vaccination intention for the whole sample. Furthermore, results of multigroup path analysis showed that attitudes were only related to males’, while subjective norms were only related to females’, intention. These findings enhance the utility of TPB in explaining people’s COVID-19 vaccination intention and inform gender-specific strategies to boost males’ and females’ vaccination intention.

Extending the theory of planned behaviour with application to renewable energy investment: the moderating effect of tax incentives

Purpose

The purpose of this study is to deploy and expand the theory of planned behaviour (TPB) model with application to renewable energy investment by incorporating the component of tax incentives (TIN). This will serve as an additional measure in understanding the conventional energy stakeholders’ investment intention into renewable energy in Nigeria.

Design/methodology/approach

Data was collected from 357 individual key conventional energy stakeholders in Nigeria using survey questionnaires. The research model was tested using structural equation modelling.

Findings

The results from the study revealed the applicability of the TPB in predicting the conventional energy stakeholders’ investment intention into renewable energy. The result indicates that attitude and subjective norm are significantly associated with investment intentions.

Research limitations/implications

The outcome implies that the integration of tax incentives can improve the predictive power of the model as the introduced variable demonstrates a significant impact on the conventional energy stakeholders’ investment intention into renewable energy.

Practical implications

This study extends on the well-established TPB model by integrating tax incentives in understanding investment intentions and the outcome implies a significant association of tax incentives with investment intention and moderated the influence of attitude and subjective norm over the conventional energy stakeholders’ investment intention.

Originality/value

TPB has been widely deployed and even extended to predict intention in numerous fields of study. Available literature presents the lack of such empirical research that focuses on investment in Nigeria and specifically regarding energy investment. The outcome highlighted the significant influence of tax incentives, thus the need for policymakers to suggest and implement various tax incentives to attract private investment into renewable energy for electricity generation that will consequently assist in achieving SDG-7 and mitigate climate change.