The Effects of Market Competition, Capital Structure, and CEO Duality on Firm Performance: A Mediation Analysis by Incorporating the GMM Model Technique

How does the data element-driven industry affect corporate cash holdings? Evidence from Chinese listed companies

The data element-driven industry (DEDI) generates large amounts of data, thereby mitigating information asymmetry. Does this affect corporate cash holdings? On the basis of theoretical analysis, this study empirically analyzes the impact of DEDI on enterprises' cash holdings and its transmission path using data of Chinese cities and A-share listed enterprises from 2008 to 2020. First, the results indicate that the DEDI reduces corporate cash holdings. As the development level of the DEDI improves, the corporate cash holdings gradually decrease. Second, the DEDI indirectly affects corporate cash holdings by influencing debt-financing and external credit supply capacities. Specifically, the DEDI increases the upstream corporate debt-financing and downstream corporate external credit supply capacities. Improvements in debt-financing and the external credit supply capacities can reduce corporate cash holdings. Third, the DEDI has a heterogeneous impact. For enterprise with CEO duality, small and medium-sized, and information technology enterprises, the impact of DEDI in reducing cash holdings is greater.

The impact of health expenditure and economic growth on CO2 in China: a quantile regression model approach

Based on the environmental Kuznets curve (EKC) hypothesis and using Chinese provincial panel data from 2002 to 2019, this study examines how different types of healthcare expenditure and levels of economic development and energy consumption contribute to carbon emissions regionally. Considering the wide regional differences in the development levels of China, this paper uses quantile regressions and draws the following robust conclusions: (1) The EKC hypothesis was validated by all methods in eastern China. (2) The carbon emission reduction of government, private, and social health expenditure is confirmed. Furthermore, the impact of health expenditure on carbon reduction decreases from East to West. (3) Government, private, and social health expenditure all cause reductions in CO2 emissions, with private health expenditure having the largest negative effect on CO2 emissions, followed by government health expenditure and finally social health expenditure. Overall, the limited empirical work available on the impact of different kinds of health expenditure on carbon emission in the existing literature, this study greatly assists policy makers and researchers to understand the importance of health expenditure in improving environmental performance.

Women in CEO duality and firm performance in Europe

This paper investigates gender dimensions in the relationship between CEO duality and firm performance, combining feminist theories and stewardship arguments. Using a large sample of listed firms from 23 European countries in the 2014–2020 period, we have found that CEO duality has a positive effect on corporate performance when a woman holds both the roles of CEO and board chair. These findings highlight the ‘bright side’ of women in governance, suggesting the presence of women in double leadership positions can amplify benefits and/or limits costs related to CEO duality. Having a woman in CEO-chair leadership could optimize a firm’s use of its resources and more effectively contribute to improving performance. Directions for future research could include a better understanding of women in leadership in the organizational domain. Our results have a number of managerial and political implications.

Corporate governance mechanisms, royal family ownership and corporate performance: evidence in gulf cooperation council (GCC) market

This research is motivated by the increasing importance of the Gulf Cooperation Council (GCC) economies within the world economy and the lack of research on corporate governance mechanisms in these countries. This study examines the relationship between corporate governance mechanisms and firm performance in GCC countries, focusing on the uniqueness of royal family ownership. We further investigate whether corporate governance mechanisms affect the royal family ownership-firm performance relationship. The data sample of the study includes 266 company-year observations over the period of 2009-2017. Results demonstrate that board size with less than nine members on board and audit quality (AUQ) are effective corporate governance mechanisms because their monitoring functions can enhance firm performance. However, our result demonstrates that firm performance significantly deteriorates with institutional ownership, chief executive officer duality (CEODU) and local auditors (AUQL). The result also shows that royal ownership has a significant positive effect on firm performance. In line with the resource dependency theory, this finding indicates that royal members who have a link with the external environment are more likely to have easy access to vital resources to aid in business performance improvement. Further analysis found that the big four international audit firms (AUQ) and AUQL positively moderate the relationship between royal ownership and firm performance. The finding suggests that AUQL and the big four international auditors play a complementary role in the governance system by strategising with royal members who own shares in the firm to further enhance firm performance. With the existence of royal family ownership, which is common amongst corporations in monarchy countries, the results of our study should help corporations in the GCC region to establish the best governance mechanisms to enhance firm performance.

Understanding the bearable link between ecology and health outcomes: the criticality of human capital development and energy use

The Middle East and North Africa (MENA) countries share a common context of critical ecological issues and trans border conflicts that threaten the quality of life and long-term stability of the region. The lack of water and arable land in particular has been a significant aspect of the region's history, but in more recent times, these pressures have grown in correlation with development patterns. Previous studies in this regard based on MENA countries data have failed to capture the holistic impact of the environmental risk factors on health outcomes. This study examines the bearable link between ecology and health outcomes, accounting for the criticality of human capital and energy use in the MENA region. The study employs second generation econometrics methods - system GMM, panel quantile regression via moments, and Dumitrescu-Hurlin causality test on panel data covering 2008-2017. The empirical results establish a trade-off between the ecological factors and health outcomes. Specifically, ecological footprint as a measure of environmental quality is positively related to health outcomes, while biocapacity is negatively and insignificantly associated with health outcomes. Both effects of the two environmental factors are undesirable. Furthermore, the results show that human capital has the desired positive and significant effect on health outcomes, while the effect of energy use is negative. Based on the findings, the study provides several policy options that would help to deescalate the pressure on the natural resources.

Tailings dams: Assessing the long-term erosional stability of valley fill designs

Tailings is a generic term for waste material from the extraction and processing of minerals and frequently contain mineral and chemical residues. They are usually highly erodible and transportable via fluvial processes. Tailings are commonly stored in 'tailings dams' and such dams are a feature of many mine sites. As they impound water and sediment, tailings dams can be at risk from both catastrophic and gradual failure, especially if unmanaged. A fundamental question for their management is, can tailings dams ever be walk-away structures? Catastrophic failure occurs when there is a large scale rapid structural failure of the dam wall suddenly releasing large volumes of water and sediment. However, over time, there will the increased risk of gradual failure by the slow infilling of the dam and the erosion of the dam wall. Failure can occur where water overtops the dam wall and then incises through the wall due to a loss of freeboard in the dam, a situation which is more likely in legacy tailings dams where they have been filled, vegetated and abandoned. Here, firstly, a computer based landscape evolution model (CAESAR-Lisflood) is employed to assess a hypothetical tailings dam failure by erosion. Secondly, using an idealised example, it is demonstrated that given average climate conditions a dam can be sufficiently robust to last centuries. Thirdly, and longer term it is demonstrated that the tailings can be contained if (a) maintenance is conducted to increase the dam wall height over time or (b) a more robust dam wall is constructed to manage extreme events. However, erosion and infill will continue to reduce the integrity of any structure over time. Therefore, it is highly likely that tailings dams will require continued monitoring and maintenance. The method outlined provides a new tool for assessing any tailings facility for its erosional stability.

Contract manufacturing, market competition, and labor productivity in US manufacturing industries

How does contract manufacturing /outsourcing affect productivity? Existing studies have conflicting empirical findings regarding this issue. This paper aims to reconcile these conflicting findings in the literature by viewing the research question through the lens of the property rights theory. The authors develop a moderated moderation model to empirically examine how productivity is influenced by the interactions among contract manufacturing, competition, and suppliers’ productivity spillover. Our model shows that though conflicting findings have been reported in the literature, each finding holds true under certain conditions which are identified in our paper. In brief, contract manufacturing /outsourcing improves productivity when suppliers’ productivity growth is above average and focal industry’s competition is at medium level. On the other hand, if suppliers’ productivity growth is low, or focal industry’s competition is too high or too low, the impact of contract manufacturing /outsourcing could be negative or not significant.

Policy Intervention and Financial Sustainability in an Emerging Economy: A Structural Vector Auto Regression Analysis

The purpose of the study is to observe the impact of policy intervention on financial sustainability using the structural vector autoregression (SVAR) analysis. The population of the study is the manufacturing sector of Pakistan, which is an emerging economy. Data for 249 firms operating in the manufacturing sector are taken, collected from Datastream from 2005 to 2019, with total observations of 2,400. To conduct the analysis, R software is used for its better visualization. Results show that firm performance, corporate governance, and sectoral policies have a positive and long-term impact on financial sustainability, whereas earning management and financialization not only have a negative impact, but this impact affects the operations of the corporate for a longer period. This study would be helpful for policymakers as it gives a framework for financial sustainability based on the policies and strategies developed by the sector.

From Cultural Tourism to Social Entrepreneurship: Role of Social Value Creation for Environmental Sustainability

Cross-cultural exchanges among the locals and the tourists have been beneficial in terms of social value creation and sustainability. The present study has examined the role of cultural tourism and social entrepreneurship on social value creation and environmental sustainability. The study has drawn a sample through a non-probabilistic convenience sampling method for desired data collection, as investigators approached tourists visiting the tourism destinations. The study reports data received with the help of tourists visiting cultural heritage in the Gilgit-Baltistan region of Pakistan. The study has employed the PLS_SEM approach for analysis purposes to draw the results. The findings showed a significant relationship between cultural tourism, environmental sustainability, and social value creation that significantly predicts environmental sustainability. The results revealed a significant positive association between social entrepreneurship, social value creation, and environmental sustainability. Besides, results showed that social value creation mediates the relationship between cultural tourism and environmental sustainability and social entrepreneurship and environmental sustainability. The study's findings climax the importance of cross-cultural interactions that enriches the cultural understanding and gives new perspectives to the existing cultural traditions. Pursuing environmental sustainability through social value creation requires an excellent combination of the administrative and political collaborative strategy that integrates cultural tourism and social entrepreneurship in tourist destination development and aims to attain improved tourist attractions. Besides, this research identifies a significant effect of cultural tourism on environmental sustainability. However, the relationship between tourism and environmental sustainability is bidirectional. It might provide direction for further study. The findings deliver valuable insight into global cultural tourism and social entrepreneurship activities that provide tourism destinations for community development. This investigation produces a systematic and holistic research framework to help explore the influence of cultural tourism and social value creation on the environmental sustainability at tourism destinations. The generalizability of the findings supplies helpful directions for future research on environmental sustainability related to social entrepreneurship and cultural tourism that leads to social value creation.

Investigating the Effects of Capital Structure and Corporate Governance on Firm Performance: An Analysis of the Sugar Industry

The objective of this paper is to investigate the impact of capital structure and corporate governance on firm performance. To test the hypothesis of study, data was collected from annual reports of sugar sector companies listed in PSX. This study data covers from 2015 to 2020. The results of study showed that both proxies of capital structure, i.e., D/A and D/E negatively influence the company performance. Whereas two out of three proxies of corporate governance, i.e., board size and chairman/CEO duality negatively indicate association with company performance while audit committee size has a positive impact on the company performance.

Monitoring and Efficiency in Governance: A Measure for Sustainability in the Islamic Banking Industry

Corporate governance is a set of rules, regulations, procedures, processes, and practices through which an organization is controlled and directed. The present study aimed to examine the monitoring methods used in Islamic banking, including standardized measures for better performance, an individual's aptitude towards Islamic financial markets, risk propensity, and the level of efficiency of the Islamic banking industry in Pakistan and Malaysia. There is room to improve monitoring systems for Islamic banking operations and standardized measures could improve efficiency, leading to more sustainable performance. The study uses a self-developed semi-structured scale based on literature and expert interviews, after content and context validity to gain a wide range of diverse information. In Pakistan and Malaysia, individuals' perceptions are different because of differences in the banking environment and preferences. Eventually, the Islamic banking growth rate may differ in Pakistan and Malaysia. Thus, there should be regular monitoring to improve banking performance. Similarly, standardized measures for Islamic banking operations and governance performance in Pakistan and Malaysia will result in more sustainable performance. The antecedents of Islamic corporate governance could be improved to enhance banking performance, which helps individuals make decisions based on available product information. The business growth of the banking industry is based on convenient monitoring policies, standardized performance measures, and, most importantly, excellent corporate governance mechanisms. Improved monitoring measures will further enhance these business operations.

Management or market variables in the assessment of corporate performance? Evidence on a bank-based system

Purpose

This paper aims to study the influence of some company-specific characteristics, corporate governance factors and macroeconomic factors on the Portuguese companies’ performance.

Design/methodology/approach

To achieve this aim, the authors have used data from 39 Euronext Lisbon companies for the period between 2014 and 2019. The authors used panel data methodology, specifically the generalized method of moments estimation method by Arellano and Bover (1995) and Blundell and Bond (1998).

Findings

The results point out that the sign and significance of the determinants of corporate performance change depending on the variable used to measure performance. The Tobin’s Q variable, as a market variable and variable of interest to potential investors, is explained by some corporate governance variables and company-specific factors. Specifically, potential investors are confident in the leadership power of the chief executive office (CEO) and the members of the Board of Directors, which contributes positively to corporate performance. However, the firms’ age has a negative impact on Tobin’s Q. Considering an accounting variable managed internally by the organizations, the results show that return on assets is negatively influenced by leverage, and positively affected by CEO duality, which the manager believes is decisive to maintain performance levels.

Originality/value

To the best of the authors’ knowledge, this study is the first to analyze specific characteristics of companies and corporate governance factors, in a specific macroeconomic environment of high dependence on banking, considering the nonlinear effect of company age on company performance.

Gender Diversity and Firms’ Sustainable Performance: Moderating Role of CEO Duality in Emerging Equity Market

The objective of the study is to investigate the impact of female representation on boards and female CEOs on firms’ sustainable performance in the context of an emerging economy. We also introduce the CEO duality as a moderator variable between sustainable firm performance and board gender diversity. For this purpose, the study uses a panel data sample from 2005 to 2020 for non-financial listed firms in Pakistan. We use the firm’s operational self-sufficiency for the sustainable performance of firms. For robustness, the study also uses other accounting-based and market-based proxies. We apply the static (fixed and random effect) and dynamic panel estimation (GMM) techniques to deal with the heterogeneity and dynamic endogeneity issues in panel data estimation. The finding shows a significant positive impact of female directors on board and female CEOs on sustainable performance, whereas CEO duality does not moderate this relationship. Furthermore, we find that CEO duality has a significant negative impact on firms’ sustainable performance, which supports the agency theory hypothesis. The study also controls corporate board level factors, including board size and board independence, and uses leverage, firm size, capital expenditure, and tangible assets as firm-level control. The results also reveal that board size and board independence have a significant positive impact on firms’ sustainable performance. Furthermore, firm size, tangibility, and firm age have a significant positive, whereas leverage and capital expenditure have a negative impact on firms’ sustainable performance. Finally, the study has policy implications for stakeholders.

Corporate Business Strategy and Tax Avoidance Culture: Moderating Role of Gender Diversity in an Emerging Economy

Tax payments stimulate business enterprises to choose tax management through tax avoidance activities, which is the legal practice to reduce the amount of tax payable. In developing economies, taxation is considered more critical for budget and revenues of a country. This paper investigates whether various business strategies influence corporate tax avoidance decisions of firms by adopting business strategies. Besides, it explores how gender diversity can ease this relationship. This study has chosen a sample of organizations from non-financial sector in Pakistan. The time frame is 5 years, including once a year. The present model employed a generalized moment method (GMM) and tested the proposed hypothesis to draw the results. The study has taken the size, leverage, and business profitability as control variables of firms. The study outcomes by using the GMM method demonstrate that the presence of female directors reduces tax avoidance behavior in prospector companies. This study provides insight into future research for stakeholders, government officials, tax authorities, and policymakers. The findings offer valuable recommendations and practical insights and implications. The findings provide future directions for research to test different frameworks to attain beneficial results to promote the responsibility of tax payment culture.

Social Media Application as a New Paradigm for Business Communication: The Role of COVID-19 Knowledge, Social Distancing, and Preventive Attitudes

Business firms and the public have encountered massive consequences of the COVID-19 pandemic. This pandemic has become the most significant challenge and influenced all communities. This research study focuses on exploring the relationship between COVID-19 knowledge, social distancing, individuals' attitudes toward social media use, and practices of using social media amid the COVID-19 crisis. This study examines how attitudes toward social media use mediate the linkage between COVID-19 knowledge, social distancing, and practices for social media use. This survey uses a non-probability convenience sampling approach to collect samples and recruit willing respondents with their consent for data collection. This study recorded the feedback from 348 participants who encountered the indirect/direct effects of nationwide lockdowns, restrictions on social gatherings, and COVID-19 infection. The findings validate the proposed hypotheses for their direct effects and indicate significant β-values, t-statistics, and the p-values at p <0.001. The results validate a relationship between the COVID-19 knowledge of and social distancing practices. Similarly, the results approved a positive link between social distancing and attitudes toward social media use amid COVID-19. The findings validate the relation between social distancing and attitudes toward social media use during COVID-19 challenges (β-value = 0.22 and t-statistics = 3.078). The results show the linkage between attitudes toward social media use and practices of using social media (β-value = 0.41, and t-statistics = 7.175). Individuals' attitude toward social media use during COVID-19 mediates the connection between COVID-19 knowledge and COVID-19 practices of using social media use. The results validate the first mediation at β-value = 0.21 and t-statistic = 5.327. Similarly, the findings approve that attitudes toward social media use in the pandemic have positively mediated the relation between distancing and practices for social media use amid the crisis of COVID-19 (β-value = 0.09 and t-statistic = 2.633). The findings indicate how people have been indulged in social media to pave their business communication needs. The results provide valuable insights for the global business community. This study provides a systematic and holistic research model that helps in exploring the consequences of COVID-19. The generalizability of the findings provides valuable directions for future research related to the current pandemic.

Examining the Relationship Between Product Market Competition and Chinese Firms Performance: The Mediating Impact of Capital Structure and Moderating Influence of Firm Size

This study emphasized the relationship between the Chinese companies' product market competition and organizational performance. This article explored the mediating effect of capital structure and the moderating impact of firm size in achieving better performance of Chinese companies. This study employed a sample of 2,502 Chinese firm observations and identified that market competition positively influenced firm performance. Additionally, capital structure partly mediated the relationship between product market competition and firm performance. Similarly, the present study also tested the moderating effect of firm size (both small and large) on the association between product market competition and firm performance. The results showed that moderating large businesses affects the nexus between product market competition and firm performance. Conversely, small firms' moderating role revealed a substantial adverse impact on the association between product market competition and firm performance. These findings contribute to the literature on the complex implications of market competition on business firms' performance. The results provide insightful and practical implications for future research directions.

Women's Entrepreneurial Contribution to Family Income: Innovative Technologies Promote Females' Entrepreneurship Amid COVID-19 Crisis

Women entrepreneurs innovate, initiate, engage, and run business enterprises to contribute the domestic development. Women entrepreneurs think and start taking risks of operating enterprises and combine various factors involved in production to deal with the uncertain business environment. Entrepreneurship and technological innovation play a crucial role in developing the economy by creating job opportunities, improving skills, and executing new ideas. It has a significant impact on the income of the household. The study focused on investigating the role of women's entrepreneurship and innovation technologies in contributing to household income in the challenging situation of the pandemic COVID-19. The paper emphasized identifying the determinants of female entrepreneurial contribution toward household income. This study collected data from selected rural and urban areas of district Faisalabad through a self-administered questionnaire. Investigators interviewed female entrepreneurs and chose them through the snowball sampling technique from a population of purposively selected female-run businesses. Interviews were conducted with women entrepreneurs to gather relevant information for the survey investigation at their workplaces and home. The effects of various factors, including age, education, family size, income from other sources, time allocated to entrepreneurial activity, firm size, and location (rural/urban) were estimated empirically using an ordered logit model. The study findings exhibited a positive and significant role of respondents' education, family size, time allocated to entrepreneurial activities, and firm size. The survey outcomes also indicated that the contribution of entrepreneurial income to household income in the rural areas is significantly higher than that in urban areas. This study signifies that regulations against gender discrimination in public and private institutions are helpful. Besides, encouraging an environment for entrepreneurial culture among women in the country would increase family income. The study's findings and policy implications directly link to Sustainable Development Goal (SDGs) 5 of Gender Equality (GE) and SDG 8 related to decent work and economic growth.

Community Wellbeing Under China-Pakistan Economic Corridor: Role of Social, Economic, Cultural, and Educational Factors in Improving Residents' Quality of Life

This present article explores the effects of cultural value, economic prosperity, and community mental wellbeing through multi-sectoral infrastructure growth projects under the Belt and Road Initiative. The implications of the social exchange theory are applied to observe the support of the local community for the China-Pakistan Economic Corridor (CPEC). This study explores the CPEC initiative, it's direct social, cultural, economic development, and risk of environmental factors that affect residents' lives and the local community's wellbeing. CPEC is a multibillion-dollar project to uplift economic growth and free trade between Pakistan, China, and other regional stakeholders. Although CPEC is still in its initial phases with partial startups, policymakers and government officials claim this mega project as a "game-changer" in the region, mainly for Pakistan and China. This gigantic project offers the significant potential to generate business slews and employment opportunities with international outreach. Due to the term's newness, numerous studies have recently explored the macro and microeconomic benefits of the CPEC initiatives; still, these projects are theoretical. The existing literature insufficiently explored how helpful CPEC would be to a specific group and how residents perceive its advantages. This study fills in the literature gaps and explores the likely advantageous potential of the CPEC for the regional states. The study applied a convenient sampling technique for the data collection process. It used a mixed-method approach to gain scientific results, with a standardized questionnaire survey of 459 people (300 men and 159 women) from five major cities of Pakistan. The study results designate that residents believe that CPEC infrastructure projects will significantly improve residents' life quality through more job openings and community poverty reduction. Still, they raised their concerns regarding environmental protection issues in the region. The findings specified that residents had an optimistic approach to better educational productivity by adopting environment-oriented policies. Policymakers should establish new CPEC study centers in different areas, and investors should be encouraged to participate in the industrial sector. Officials can overwhelm community worries about environmental degradation. Government officials in both countries can utilize the findings to raise public awareness about CPEC's social, economic, cultural, mental wellbeing, and ecological implications.

Product Market Competition and Firm Performance: Business Survival Through Innovation and Entrepreneurial Orientation Amid COVID-19 Financial Crisis

The product market competition has become a global challenge for business organizations in the challenging and competitive market environment in the influx of the COVID-19 outbreak. The influence of products competition on organizational performance in developed economies has gained scholars' attention, and numerous studies explored its impacts on business profitability. The existing studies designate mixed findings between the linkage of CSR practices and Chinese business firms' healthier performance in emerging economies; however, the current global crisis due to the coronavirus has made product market completion fierce, which ultimately affects business firms' performance. This study focuses on this logical global challenge, investigates the rationale, and examines product-market completion impact on firms' performance operating in the Chinese markets. The study collected data from the annual reports of Chinese business organizations with A-share listing and registered with the database of China Stock Markets and Accounting Research (CSMAR). The study employed a Generalized Method of Moment technique and investigated the connection between product market competition and Chinese firm performance. The empirical analysis of this study highlights the conclusion that market competition positively and significantly affected business firms' performance. This study specified that product market competition play a dynamic and indispensable role in achieving healthier firm performance in the Chinese markets. This study provides valuable insights on practical implications and future research directions for the scholars to draw interesting results with new study models.

The Relationship Between CEO Duality and Business Firms' Performance: The Moderating Role of Firm Size and Corporate Social Responsibility

This study focuses on exploring the relationship between chief executive officer (CEO) duality and firm performance. We focus on how the size and corporate social responsibility (CSR) of firms moderate this relationship. In terms of size, business organizations are of two types: small and large firms. This study uses datasets of listed Chinese business firms included in the China Stock Market and Accounting Research database. It employs a generalized method of moment's technique to explore the connection between CEO duality and the performance of Chinese business firms through double mediation effects. Our empirical analysis showed that CEO duality has a significant negative relationship with firm performance. We also explored the moderating effects of firm size (small and large) and CSR practices on the relationship between CEO duality and improved performance of Chinese firms. Large firms and CSR practices showed significant and positive moderating effects on the relationship between CEO duality and firm performance. Conversely, with CEO duality, small firms showed a negative moderating influence on firm performance. This inclusive model provides valuable insights into how the dual role of the CEO of a firm affected the performance of Chinese firms through the moderating role of CSR practices and firm size for better business performance. The study offers empirical and theoretical contributions to the corporate governance literature. This research framework might help researchers in designing robust strategies to evaluate the effects on firm performance. Researchers may gain helpful insights using this methodology.

Assessment of carbon emissions of building interior decoration and renovation waste disposal in the fast-growing Greater Bay Area, China

Continuing urbanization and significant improvement of lifestyle have ushered in high demand for building floor area, inevitably leading to a rapid increase of interior decoration and renovation activities, which in turn produce a massive quantity of decoration and renovation waste (DRW). However, like many other countries with unremitting demand for building space and infrastructure, China has failed to attach adequate attention to DRW management. Using the yield-per-area method and life cycle assessment approach, this study aims to characterize the generation, flows, management and environmental impacts of DRW from commercial housing in nine cities in the Greater Bay Area (GBA), a highly developed economic zone in China. The results show that the production of DRW in the GBA increased from 0.16 million metric tons (Mt) in 1999 to 2.6 (±10%) Mt in 2018, with an annual growth rate of 16%. Ninety-five percent of the DRW is directly disposed of via simple landfilling. Although the recycling rate is relatively low, it still generated a benefit of 119,000 tons CO₂eq mitigation in 2018. According to scenario-based analysis, improving the recycling rate and encouraging the use of prefabricated decoration could go a long way toward tackling the DRW problem. These findings can help reveal the full impacts of DRW in the GBA, and also provide a reference for other cities to take action.

Crisis management, transnational healthcare challenges and opportunities: The intersection of COVID-19 pandemic and global mental health

The existing literature has paid insufficient attention to crisis management of global health challenges in the advent of epidemics and pandemics. This study articulates resilience importance and opportunities in the COVID-19 from crisis management challenges in essential ways. The second wave of the COVID-19 infectious disease's rapid global spread has developed a severe threat to global peace, which has posed global mental health and crisis management issues worldwide. Public health implementations' aggressive actions recommended a series of precautionary safety measures by the health specialists to suppress, sustain, and manage the local transmission of the COVID-19 pandemic. This study explores adverse consequences of the COVID-19 on communities' behavioral and interventional changes that might specify transmission dynamics. This present study recommends two model strategies that help sustain the rapid transmission and COVID-19′s adverse impacts on mental health in the general population and patients needing treatment. This study proposes mitigation and suppression models in the absence of a vaccine to decrease and manage the healthcare systems' burdens of treating patients. This global health emergency has challenged the global healthcare systems worldwide, and Governments are struggling to upgrade the healthcare systems to provide the best possible healthcare facilities to the patients. The healthcare systems in Pakistan are undeveloped to manage this global health emergency efficiently. Scientists' have already initiated experimental trials worldwide to develop vaccines to treat this infectious disease; however, the proposed two models are useful in managing the health emergency in the present situation. This study discusses global healthcare challenges, crisis management, and two model interventional strategies that help minimize the COVID-19′s rapid spread with practical crisis management preventive measures to reduce burden on healthcare systems.

Exploring the impact of COVID-19 on tourism: transformational potential and implications for a sustainable recovery of the travel and leisure industry

The study stipulates phases to observe the proposed mechanism in formulating the travel and leisure industry's recovery strategies. The present pandemic COVID-19 has resulted in global challenges, economic and healthcare crises, and posed spillover impacts on the global industries, including tourism and travel that the major contributor to the service industry worldwide. The tourism and leisure industry has faced the COVID-19 tourism impacts hardest-hit and lies among the most damaged global industries. The leisure and internal tourism indicated a steep decline amounting to 2.86 trillion US dollars, which quantified more than 50% revenue losses. In the first step, the study explores the consequences and settings of the COVID-19 pandemic and how innovation and change can contribute to the tourism industry's revival to the next normal. Thus, the study determines that tourism enterprises and scholars must consider and change the basic principles, main assumptions, and organizational situations related to research and practice framework through rebuilding and establishing the tourism sector. In the second step, the study discusses direct COVID-19 tourism impacts, attitudes, and practices in gaining the leisure industry's boom and recovery. In the third phase, the study proposes to observe the characteristics and COVID-19 tourism consequences on the travel and tourism research. The findings provide insights in regaining the tourism industry's operational activities and offer helpful suggestions to government officials, scholars, and tourism firms to reinvest in the tourism industry to set it back to a normal position.

Pathways to Financial Success: An Empirical Examination of Perceived Financial Well-Being Based on Financial Coping Behaviors

The current study empirically tests a financial well-being (FWB) model built on financial socialization (FS) and early childhood consumer experience (ECCE). The current study was conducted based on primary data obtained through structured questionnaires. By using a convenient sampling technique, data were collected from 1,500 respondents from Pakistan. Results advocated that childhood experiences directly affect the FWB in adults. In addition, FS agents, such as parents, have direct and indirect effects on the FWB in adults. Findings revealed that financial coping behaviors mediate the relationship among FS agents, such as parents, students, and the FWB. Surprisingly, FS agent peers do not impact adult FWBs. The study concluded that FWB could be improved by socializing with parents and teachers and using childhood experiences. Considering the importance of the role of parents and teachers, they should discuss financial issues with children. Policymakers should work to provide some opportunities for children so that they can practice and gain experience.

Effects of tourism, financial development, and renewable energy on environmental performance in EU-28: does institutional quality matter?

Institutional quality largely influences the ways in which economic agents align their production and operational behaviors towards expanding the share of renewable energy in the total energy mix and enhancing environmental performance. This study therefore explores the panel data for the EU-28 countries to assess the dynamic effects of institutional quality, tourism development, financial development, and renewable energy on environmental performance over the period 2002 to 2014. Using a two-step dynamic system generalized method of moments (GMM), the empirical results broadly suggest that institutional quality can be explored to dampen the potential negative effects of tourism and economic growth on environmental performance. In addition, financial development and renewable energy are positively related to environmental performance. This suggests that financial stability and energy consumption transition to renewable energy are necessary requirements to improve environmental performance. The policy implication for this study is that strengthening of institutional quality, financial stability, and adjusting to alternative and clean energy systems are the surest ways to achieve a cleaner and sustainable environment in the EU region.

The roles of economic growth and health expenditure on CO2 emissions in selected Asian countries: a quantile regression model approach

Continuous economic growth and the rise in energy consumption are linked with environmental pollution. Demand for health care expenditure increased after the COVID-19 pandemic. This study is interesting in modeling the nexus between public and private health expenditure, carbon dioxide emissions, and economic growth. To this end, the present study analyzed the nexus between public and private health care expenditure, economic growth, and environmental pollution for 36 Asian countries for the period 1991-2017. FMOLS, GMM, and quantile regression analysis confirm the EKC hypothesis in Asia. Besides, FMOLS and quantile regressions reached the reducing effects of government and private health expenditures on CO₂ emissions. While quantile regression results show that public and private health expenditures can mitigate CO₂ emissions; however, these results differ for various levels of CO₂. Findings of quantile regression show a significant impact of both public and private health expenditures in reducing CO₂ at the 50^th and 75^th quantiles but results are insignificant for the 25^th quantile. Overall, the paper concludes that both government and private health sectors' expenditures caused CO₂ emissions to decrease in Asia and that the negative impact of the private health sector on CO₂ emissions is greater than that of the government health sector. The concluding remark is that the higher the health spending, the higher the environmental quality will be in Asia. Hence, the health administrators need to increase public and private health expenditures with an effective cost-service and energy-efficient management approach to reach sustainable health services and a sustainable environment in Asia.

A method for assessing the long-term integrity of tailings dams

Mine tailings are a by-product of the processing of minerals. At most mines they are a waste product that needs to be managed. Tailings composition and properties vary widely and are in most cases highly erodible due to their fine particle size and can contain elevated concentrations of unwanted minerals and process chemicals. Therefore, if released to the environment they can be a significant environmental problem. A common management strategy is to store them in 'tailings dams' where they will remain in perpetuity. Little work has been done to assess the long-term erosional behaviour of tailings dams. Computer based Landscape Evolution Models (LEMs) provide information on erosion rates, type of erosion and where erosion is likely to occur. They can therefore provide guidance on long-term behaviour which allows designs to be tested and improved. Here a LEM, SIBERIA, is used to assess two hypothetical tailings dam designs using different surface covers and climates. The results suggest that a tailings dam that can capture rainfall can erode less than a capped design that must shed any runoff. An embankment with a small and steep catchment has minimal erosion potential and any material eroded from the internal wall of the embankment is deposited internally and provides erosion protection. If the external embankment is maintained then there is potential for long-term encapsulation of tailings. The single biggest issue for the employment of LEMs is that of parameterisation and here assumes (1) a uniform and consistent armour or (2) a consistent and self-sustaining vegetation cover. The modelling and methods here provide a template for tailings dam assessment at other sites globally, and will improve tailings dam design and reduce environmental risk.

The Role of Social Media in the Advent of COVID-19 Pandemic: Crisis Management, Mental Health Challenges and Implications

BACKGROUND

This study focuses on how educating people through social media platforms can help reduce the mental health consequences of the COVID-19 to manage the global health crisis. The pandemic has posed a global mental health crisis, and correct information is indispensable to dispel uncertainty, fear, and mental stress to unify global communities in collective combat against COVID-19 disease worldwide. Mounting studies specified that manifestly endless coronavirus-related newsfeeds and death numbers considerably increased the risk of global mental health issues. Social media provided positive and negative data, and the COVID-19 has resulted in a worldwide infodemic. It has eroded public trust and impeded virus restraint, which outlived the coronavirus pandemic itself.

METHODS

The study incorporated the narrative review analysis based on the existing literature related to mental health problems using the non-pharmaceutical interventions (NPIs) approach to minimize the COVID-19 adverse consequences on global mental health. The study performed a search of the electronic databases available at PsycINFO, PubMed, and LISTA. This research incorporates the statistical data related to the COVID-19 provided by the WHO, John Hopkins University, and Pakistani Ministry of Health.

RESULTS

Pakistan reported the second-highest COVID-19 cases within South Asia, the fifth-highest number of cases in Asia after Iran, India, Russia, Saudi Arabia, and the 14th highest recorded cases, as of October 14, 2020. Pakistan effectively managed the COVID-19 pandemic in the second wave. It stands at the eighth-highest number of confirmed cases in Asia, the 3rd-highest in South Asia, and the 28th-highest number of established patients globally, as of February20, 2021.

CONCLUSION

The COVID-19 has resulted in over 108.16 million confirmed cases, deaths over 2.374 million, and a recovery of 80.16 million people worldwide, as of February 12, 2021. This study focused on exploring the COVID-19 pandemic's adverse effects on global public health and the indispensable role of social media to provide the correct information in the COVID-19 health crisis. The findings' generalizability offers helpful insight for crisis management and contributes to the scientific literature. The results might provide a stepping-stone for conduct future empirical studies by including other factors to conclude exciting developments.

Beta decoupling relationship between CO2 emissions by GDP, energy consumption, electricity production, value-added industries, and population in China

The credible sources of fossil energy efficiently are a vital cause of economic growth and considerable influence on adequate security. Whereas radiant energy positively enhances or ostensibly promotes socio-economic stability and the controlled environment. The fossil energy sources supply has become progressively stern in China and reconnoitering the beta decoupling relationships between CO2 emissions, GDP, energy consumption, electricity consumption, value-added industries, and population. The results will be favorable for illustrative the security of the valuable resources. This study adopts the extended stochastic model (STIRPAT) with Beta Decoupling Techniques (BDT). This modern technique merely employs the decoupling situation by the alpha and beta effects from 1989 to 2018 and calculates the % change in CO2 emissions by GDP growth and energy consumption. The estimated results represent negative and economic growth depends on coal and natural gas. First, CO2 emissions annually increasing cause of rapid growth, energy consumption, and electricity production, and the structural contradiction of energy remained static. Second, the Value-added industries estimated that CO2 emissions reduce by primary industries. Third, the decoupling states of CO2 emissions and population show an inverse relationship. This paper tentatively suggests China is sustainable, naturally strengthens energy output, transmutes the energy consumption structure, and advances development policies under environmental circumstances.

A regret-based behavioral model for shared water resources management: Application of the correlated equilibrium concept

The competition over water use in shared water resources systems may lead to conflict. Conflict can lead to strategic behaviors with the consequence of "Tragedy of Common" in water resources. In this paper, a novel approach is proposed for the quantity and quality management of shared water resources using the Correlated Equilibrium (CE) concept. For the first time in water resources management studies, a Reinforcement Learning (RL)-based method, namely Regret Matching (RM), is proposed to simulate agents' behaviors. In the proposed methodology, an agent, which is responsible for water allocations, tries to reduce illegal water withdrawal from resources, using some non-mandatory and mandatory suggestions. This agent's objectives are leading the system towards social optimality (SO) and reaching the environmental sustainability goal. A modified RM algorithm is also developed for behavioral simulation in urban areas. The proposed methodology's applicability and efficiency are evaluated considering some criteria such as the concentration of the nitrate pollutant in groundwater, the groundwater table fluctuations, the rate of illegal water extraction from the groundwater, and the stakeholders' general satisfaction. The results of applying the methodology to the western part of the Tehran metropolitan area show its ability to deal with the water and treated wastewater allocation problems in urban areas and increase in the learning and cooperation among agents. According to the results, a meaningful decrease in nitrate concentration in the aquifer and an increase in groundwater table levels are observed. The results also indicate that the model could teach the stakeholders to act more responsibly towards protecting the environment and conserving shared water resources.