Financial Innovation in Digital Payment with WeChat towards Electronic Business Success

Assessment of the role of renewable energy financing and information and communication technology in carbon neutrality: evidence from RCEP economies

Understanding the correlation between the various forms of financing and their propensity to invest in renewable energy (RE) innovation is crucial for its successful financing. We investigate the "path" taken by innovators in the financial sector. The UN Secretary-General announced the Sustainable Energy for All Initiative in 2012 to ensure that all people can access reliable, modern energy services by 2030. Substantial monetary and technological investments at a rate much surpassing historical levels are required to accomplish this goal. This research is aimed at determining if the combination of REF and ICT may help improve environmental quality. Using econometric methods, we examine time series data from RCEP economies from 2000 to 2019. This study describes another determinant of carbon emission: economic growth, tourism, and trade openness. The study employs Cup-FM and Cup-BC tests to check the results of variables in this study. The effect of economic growth, tourism, and trade significantly positively impacts carbon emissions in this model. However, renewable energy finance and ICT adversely impact the carbon emission level. Moreover, the moderate effect of renewable energy finance on information and communication technology, tourism, and trade is found to have a negative impact on carbon emissions. The policy recommendations suggest how a country can minimize carbon emissions.

Moderating Role of Perceived Trust and Perceived Service Quality on Consumers’ Use Behavior of Alipay e-wallet System: The Perspectives of Technology Acceptance Model and Theory of Planned Behavior

The advancement of e-wallet systems, including Alipay, has led consumers to embrace digital payment with financial technologies. Yet, limited research focused on the usage of e-wallets in the context of emerging economies. This research is aimed at investigating the predictors of consumers’ use behavior of the Alipay e-wallet system in an emerging market and moderating role of perceived trust and perceived service quality on this relationship. The technology acceptance model (TAM) and the theory of planned behavior (TPB) were applied as the guiding principle. Data gathered via online surveys among 378 Malaysian Alipay users were analyzed using the partial least square-structural equation modeling (PLS-SEM) approach. The results reveal that all hypotheses were significant towards consumers’ intention to use Alipay in an emerging market except for the moderating role of perceived trust. Perceived usefulness was the strongest predictor factor towards consumers’ intention to use Alipay in an emerging market. This is followed by perceived ease of use. They heavily emphasize the superiorities of Alipay over other e-wallet systems such as efficiency and convenience for conducting financial activities. This study contributes to the existing literature by proposing a comprehensive integrated research model. The research outcome can serve as a guideline for service providers towards enhancing consumers’ adoption of e-wallets for digital payment with financial technologies.

The impact of COVID-19 on small- and medium-sized enterprises (SMEs): empirical evidence for green economic implications

Small- and medium-sized enterprises (SMEs) in China have been hit hard by the coronavirus (COVID-19) outbreak, which has jeopardized their going out of business altogether. As a result, this research will shed light on the long-term impacts of COVID-19 lockdown on small businesses worldwide. The information was gathered through a survey questionnaire that 313 people completed. Analyzing the model was accomplished through the use of SEM in this investigation. Management and staff at SMEs worldwide provided the study's data sources. Research shows that COVID-19 has a significantly bad influence on profitability, operational, economic, and access to finance. In the study's findings, outside funding aids have played an important role in SMEs' skill to persist and succeed through technological novelty than in their real output. SME businesses, administrations, and policymakers need to understand the implications of this study's results.

Does financial development and renewable energy consumption impact on environmental quality: A new look at China’s economy

Environmental problems such as climate change have brought to light the necessity of implementing more stringent environmental regulations and expanding the use of renewable energy sources in order to protect the environment and maintain a green ecosystem. As a result, this study aims to investigate the impact of China’s financial development and consumption of renewable energy on the country’s environmental quality from 2009 to 2019. Following the application of the ARDL method, this research begins by employing the NARDL (non-linear autoregressive distributive lag) model in order to analyze the asymmetry in the data that results from the presence of either positive or negative aspects of financial development. The results of the NARDL bound test indicate that the variables are long-term co-integrated. This enables the application of the ARDL methodology. The ARDL bound test findings show a positive relationship that exists over the long-term between financial development, trade openness, renewable energy consumption, economic growth, and CO₂ emissions. In addition, the error correction model (ECM) provides evidence that there is, at least in the short run, a connection between CO₂ emissions, financial development, economic growth, and energy consumption. Furthermore, according to a dynamic multiplier graph, the positive aspect of financial development has a greater influence on carbon emissions for a longer time than the shocks associated with a less favorable financial development. According to the findings, there does not appear to be any asymmetry between CO₂ emissions and financial development, which supports the idea that both the positive and negative aspects of financial development have an equally significant impact.

Towards Sustainable Development: How Digitalization, Technological Innovation, and Green Economic Development Interact with Each Other

Green technological innovation is one of the endogenous drivers of green economic growth, and digitalization can promote green economic development in the form of industrial empowerment. The interactive relationship and the degree of influence between digitalization, technological innovation, and green economic development is thus an urgent issue to be addressed. Based on the panel data of 30 Chinese provinces from 2011 to 2019, we measured digitalization, technological innovation, and green economic development for the first time using the entropy method and included them in the same analytical framework by constructing a PVAR model to empirically test their interrelationship and degree of influence. Our findings suggest that: (1) There is an inertial development and self-reinforcing mechanism among the three variables. (2) The impact of digitalization on green economic development has a positive promotion effect, while the impact of technological innovation on green economic development is not significant. (3) The impact of green economic development on technological innovation has a positive promotion effect in the short term, but this effect gradually declines and tends to zero in the long term. Finally, based on the findings, several practical suggestions are made.

Building a Three-Level User Experience (UX) Measurement Framework for Mobile Banking Applications in a Chinese Context: An Analytic Hierarchy Process (AHP) Analysis

User experience (UX) has drawn the attention of the banking industry in the past few decades. Although banking systems have a complete service process to ensure financial safety for customers, the mobile banking UX has much potential to be improved. Most research in this field of study relies on existing criteria to describe a user’s experience. However, these criteria are focused more on usability measurement, which neglects to identify the requirements of end-users. Users are asked to give feedback on the provided application, limiting the scope of the user study. Therefore, this study uses mixed methods research and in-depth semi-structured interviews to collect end-user UX requirements to build a UX measurement framework of five main services transfers, including financial management, loans, account openings, and credit cards. This study uses an online survey to validate and revise the framework by applying analytic hierarchy process (AHP) analysis to quantify criteria. We interviewed 17 customers and collected 857 online validation surveys, and 400 customers attended the AHP analysis. As a result, this study proposes a three-level measurement framework for mobile banking applications in a Chinese context. The first-level criteria are scenario requirements (24.03%), data requirements (20.98%), and function requirements (54.99%). We hope that the framework will guide designers and researchers to design better user-friendly user interfaces and improve customer satisfaction rates in the future.

Integrated Smart Warehouse and Manufacturing Management with Demand Forecasting in Small-Scale Cyclical Industries

In the context of the global economic slowdown, demand forecasting, and inventory and production management have long been important topics to the industries. With the support of smart warehouses, big data analytics, and optimization algorithms, enterprises can achieve economies of scale, and balance supply and demand. Smart warehouse and manufacturing management is considered the culmination of recently advanced technologies. It is important to enhance the scalability and extendibility of the industry. Despite many researchers having developed frameworks for smart warehouse and manufacturing management for various fields, most of these models are mainly focused on the logistics of the product and are not generalized to tackle the specific manufacturing problem facing in the cyclical industry. Indeed, the cyclical industry has a key problem: the big risk which high sensitivity poses to the business cycle and economic recession, which is difficult to foresee. Despite many inventory optimization approaches being proposed to optimize the inventory level in the warehouse and facilitate production management, the demand forecasting technique is seldom focused on the cyclic industry. On the other hand, management approaches are usually based on the complex logistics process instead of integrating the inventory level of the stock, which is very crucial to composing smart warehouses and manufacturing. This research study proposed a digital twin framework by integrating the smart warehouse and manufacturing with the roulette genetic algorithm for demand forecasting in the cyclical industry. We also demonstrate how this algorithm is practically implemented for forecasting the demand, sustaining manufacturing optimization, and achieving inventory optimization. We adopted a small-scale textile company case study to demonstrate the proposed digital framework in the warehouse and demonstrate the results of demand forecasting and inventory optimization. Various scenarios were conducted to simulate the results for the digital twin. The proposed digital twin framework and results help manufacturers and logistics companies to improve inventory management. This study has important theoretical and practical significance for the management of the cyclical industry.

The Determinants of PayTech’s Success in the Mobile Payment Market—The Case of BLIK

FinTech and its interaction with banking is widely discussed today as a new phenomenon notwithstanding the relationship between technology and financial services is not a new topic. Most of the research focuses on innovations and determinants of their adoptions including among other innovations in the payment system. The studies dedicated directly to PayTechs as a special kind of a FinTech entity and its market activity are a relatively new field of research. This paper aims to fill this gap. The multidimensional character of this exploratory research causes the necessity to apply various research methods, including both inductive and deductive methods, together with comparative analysis. The theoretical analysis conducted in the paper for defining PayTechs from the perspective of business model and market behavior was based on an in-depth literature review. In this section, the inductive method and comparative analysis were mostly applied. The empirical part of the paper includes the analysis of quantitative data published by the National Bank of Poland (NBP), Central Statistical Office (GUS), and Bank for International Settlements (BIS). The subject of the case is the Polish Payment Standard referred to as BLIK implemented in Poland in 2015 for mobile payments. The BLIK diffusion is measured by the number of entrants and acceptants as well as the scope of transactions while the adoption by the number of customers using BLIK in everyday transactions. The results present the market behavior of BLIK as an open business model and the key success factors of BLIK adoption and diffusion and the determinants for further open payment innovations’ development. The newly developed definition of PayTechs, the identification of the major components of the PayTech open business model, as well as the indication of the key success factors of adoption and diffusion of m-payments, constitute the original contribution of the paper.