Cryptocurrency integration: A blessing or a curse for economic development and stability?

Purpose: To systematically review and synthesize existing empirical evidence on the multifaceted impacts of cryptocurrency integration on economic development and stability, aiming to determine whether its proliferation is predominantly beneficial or detrimental to sustainable economic systems. Methodology: A systematic literature review was conducted following the Preferred Reporting Items for Systematic Reviews and Meta-Analyses (PRISMA) guidelines. The Scopus database was searched for empirical articles published between 2010 and 2024, focusing on keywords related to cryptocurrencies, economic development, economic growth, financial stability, financial risks, and financial inclusion. A multi-stage filtering process led to the inclusion of 21 relevant research articles. Results: The review reveals a predominant consensus (52.4% of reviewed articles) that cryptocurrency integration has a negative impact on economic growth and stability, primarily due to volatility, systemic risks, and its use in illicit activities. While some studies highlight potential for financial inclusion (e.g., SME financing) and as a hedge in specific contexts, the broader findings point to significant challenges for monetary policy, regulatory oversight, and conventional banking paradigms. The theoretical contribution: This study consolidates fragmented research into a coherent overview, highlighting the complex and often contradictory effects of cryptocurrencies. It contributes to understanding the challenges digital currencies pose to traditional economic theories and models of financial stability, particularly within the context of achieving sustainable development. Practical implications: The findings urge policymakers to develop robust, globally coordinated regulatory frameworks to mitigate systemic risks, combat financial crime, and protect consumers. Financial institutions must adapt their risk management strategies to accommodate digital assets. The study also highlights the importance of public financial literacy programs regarding cryptocurrency risks and advocates for considering the impacts of cryptocurrency in broader economic and sustainable development planning. Sustainable Development Goals (SDGs): SDG 8: Decent Work and Economic Growth; SDG 9: Industry, Innovation and Infrastructure; SDG 10: Reduced Inequalities; SDG 16: Peace, Justice and Strong Institutions

Exploring the nexus between banking stability and market value: Evidence from the Iraqi banking sector

Purpose: This study aims to investigate the relationship between banking stability and market value in the Iraqi banking sector, exploring how the stability of banks impacts their market capitalization. Methodology: The study employs a quantitative approach, utilizing financial ratios such as return on assets, equity/assets, and the z-score index to quantify banking stability. Market value is measured using banks' share prices and outstanding shares. A sample of 17 Iraqi banks is analyzed over a four-year period, employing statistical analysis to examine the relationship between banking stability and market value. Results: The findings reveal a positive relationship between banking stability and market value. Banks with strong risk management practices, adequate capital buffers, and effective regulatory oversight inspire greater confidence among depositors and investors, translating into higher market valuations. Conversely, banks facing poor governance, high non-performing loans, and thin capital cushions struggle to achieve stability, eroding their market value. Theoretical Contribution: The study contributes to the existing literature by providing empirical evidence on the crucial role of banking stability in shaping market valuations. It highlights the importance of sound banking practices, regulatory frameworks, and risk management in enhancing investor confidence and, ultimately, the market value of banks. Practical Implications: The findings offer insights for policymakers, regulators, and financial institutions in Iraq and other regions. Promoting banking stability through enhanced prudential oversight, governance practices, risk management capabilities, and financial inclusion can favorably impact the market valuation and development of the banking system

Does air pollution motivate organisations to adopt environmental management accounting practices? Evidence from South Africa

This paper identifies the extent of air pollution in motivating companies to implement environmental management accounting (EMA) practices in 67 mining and cement companies listed on the Johannesburg Stock Exchange (JSE), South Africa, from 2012 to 2021. Pooled ordinary least squares regression is applied to analyse the data. EMA is proxied by environmental training, environmental audits and energy efficiency, while air pollution is measured based on the air quality index (AQI). The results show that air pollution is essential for companies to adopt EMA practices. This means that when air quality declines within a company’s locality, a company proactively adopts EMA practices. This suggests that air pollution is a key basis of companies' adoption of EMA, as predicted by the legitimacy theory. The study includes three control variables: size, return on assets (ROA) and number of years listed on JSE. Two control variables, namely Size and ROA, portray a positive and significant effect on adopting EMA from air pollution. This portrays that a financially stable company tends to submit to air pollution and use EMA to counter the pollution. In contrast, as the number of years increases for companies listed on JSE, EMA will likely be adopted less to reduce air pollution

Exploring the intersection of utilitarianism and sustainability in business: A conceptual analysis

Purpose: This research aims to elucidate the benefits commercial entities strive to accrue by implementing sustainability practices, using a conceptual analysis framework to probe into the anticipated benefits underpinning sustainability adoption. Methodology: The study employs a comprehensive literature review to define and establish a framework for utilitarianism and sustainability, focusing on their relationship and implications within the business context. Results: The research findings indicate that sustainability practices can considerably augment the utilitarian objectives of businesses. Energy efficiency initiatives, for instance, can enhance profitability by curtailing energy costs and simultaneously alleviating environmental impacts. Social responsibility endeavours can amplify brand value, solidifying customer loyalty. Elevated employee satisfaction and engagement can foster heightened productivity and competitiveness. Theoretical contribution: This study contributes to the existing body of literature by critically examining the definitions of critical terms and interrogating the ontological validity of the assumed linkage between sustainability initiatives and the anticipated benefits. It also offers a framework illustrating how businesses might integrate the principles of sustainability and utilitarianism, setting a foundation for further exploration of this theme. Practical implications: The research provides valuable insights for businesses seeking to harmonize their activities with environmental, social, and economic impacts in the pursuit of sustainability, while simultaneously aiming to maximize benefits. It underscores the importance of maintaining a delicate equilibrium between sustainability and utilitarianism, as the incorporation of sustainability principles can assist businesses in achieving their profit and benefit creation objectives, thereby fortifying their prospects for enduring success

Achieving Sustainable Development Goal Four (4) in Africa: Spotlighting the role of quality education and innovation orientation

The novel coronavirus (COVID-19) has damaged the global economy and business ecosystem. Also, quality education and skills mismatch have become critical in today’s working environment post-COVID-19. Furthermore, one of the 17 Global Goals comprising the 2030 Agenda for Sustainable Development is quality education, yet Africa pays less attention to this and its impact in the workplace and organizations. This study, therefore, examined the effects of quality education on the innovation orientation of selected consumer goods companies listed in Nigeria and their role in achieving SDGs in Nigeria, the most populous and largest economy in Africa. Findings showed that quality education had a significant effect on innovation orientation. This study recommends that management and stakeholders consider the benefits of quality education in innovation and innovation orientation and, therefore, channel resources to achieve and align with Sustainable Development Goal 4

A global minimum wage formula as a proactive measure for climate migration

On February 14, 2023, United Nations Secretary-General Antonio Guterres spoke to a global audience, stating, "The world will witness a mass exodus of entire populations on a biblical scale." Purpose: This paper proposes a global minimum wage formula tied to local rent prices as a proactive measure to strategically incentivize populations to migrate away from coastal areas threatened by climate change. Methodology: The author employs a theoretical approach, utilizing economic principles and financial literacy practices to develop a scaffolded, multi-year plan for implementing a global minimum wage formula. As this is a theoretical paper, there are no experiments or empirical results to evaluate. Results: The proposed global minimum wage formula, based on a 'Recent and Relevant Rent Price Index' (3RPI), is designed to anchor wages to a rent-price index, allowing laborers to afford housing on 30% of their wages. This formula is expected to incentivize migration inland, spur entrepreneurism, and increase local tax bases. Theoretical contribution: This paper contributes to climate change adaptation by proposing an economic solution to manage the anticipated mass migration due to rising sea levels and coastal erosion. It highlights the potential of market-driven measures to mitigate the economic shocks associated with climate change-induced migration. Practical implications: Implementing the proposed global minimum wage formula could help governments proactively manage climate change-induced migration's economic and social impacts. It may also contribute to funding the annual $2.4 trillion gap for addressing climate change, as described by the United Nations, by temporarily increasing discretionary funds and tax bases. Sustainable Development Goals (SDGs): SDG 10: Reduced Inequalities; SDG 13: Climate Action; SDG 11: Sustainable Cities and Communities; SDG 1: No Povert

Examining the relationship between procurement strategies and organizational performance of Ghanaian firms: How does strategic procurement drive organizational success?

This study investigates the impact of procurement strategies – Strategic Procurement (STRP), Supplier Relationship Management (SRM), Risk Management Practices (RMP), and Sustainable Procurement (SUSP) – on organizational performance among industrial firms in Ghana’s Greater Accra region. A structured questionnaire was administered to 500 participants from industrial companies, resulting in 437 valid responses (an 87.4% response rate). Data were analyzed using partial least squares structural equation modeling (SEM-PLS). We used non-probability and purposive sampling methods to select firms from a list provided by the Association of Ghana Industries. The results show that Strategic Procurement significantly enhances organizational performance. SRM positively influences Strategic Procurement but does not directly impact performance. RMP positively affects both strategic procurement and organizational performance, whereas sustainable procurement positively influences both. The mediation analysis reveals that Strategic Procurement partially mediates the effects of Sustainable Procurement and RMP on organizational performance. However, Strategic Procurement does not mediate the relationship between SRM and organizational performance, suggesting that other mechanisms may drive this relationship. This study highlights the central role of Strategic Procurement in linking sustainable procurement and RMP to improve performance. This emphasizes the need for a holistic approach to procurement strategy, integrating sustainable and risk management practices for optimal outcomes in Ghana’s industrial sector. Organizations should align procurement strategies with strategic goals, foster strong supplier relationships, embed risk management in procurement processes, and integrate sustainability for regulatory compliance and reputational benefits. In addition, organizations should implement performance metrics for continuous improvement. Sustainable Development Goals (SDGs): SDG 8: Decent Work and Economic Growth; SDG 9: Industry, Innovation and Infrastructure; SDG 12: Responsible Consumption and Production; SDG 17: Partnerships for the Goal

What determines economic growth in the split province in Indonesia?

Purpose: This study aims to analyze the determinants of economic growth in split provinces of Indonesia, focusing on household consumption, investment, government spending, and taxes. Methodology: The research employs panel data regression analysis using data from 25 split provinces in Indonesia from 2014-2022. The Fixed Effect Model (FEM) was determined as the best model through Chow and Hausman tests. Results: The findings indicate that household consumption, investment, goods and services spending, and taxes have significant positive effects on economic growth in split provinces. Conversely, capital spending shows a significant adverse effect on economic growth. Theoretical contribution: This study contributes to the literature on regional economic growth by providing empirical evidence on the determinants of economic growth, specifically in the context of split provinces in Indonesia. It highlights the differential impacts of various economic factors on newly formed administrative regions. Practical implications: The results suggest local governments should focus on creating a conducive investment climate, optimizing tax collection, and carefully allocating spending to promote economic growth in split provinces. The negative effect of capital spending underscores the need for more effective and efficient use of these funds. Sustainable Development Goals (SDGs): SDG 8: Decent Work and Economic Growt

Multi-criteria assessment methodology for remanufacturing conventional grinding machines into CNC machine tools

Purpose: This paper presents a multi-criteria assessment methodology to evaluate the remanufacturability of converting conventional surface grinding machines into CNC machine tools. Methodology: Conventional surface grinding machines remanufactured into CNC machine tools were analyzed and classified into five remanufacturing alternatives. A multi-criteria assessment model incorporating cost, time, accuracy, reliability, processing shape complexity, and ergonomics was developed. The importance of criteria and performance of alternatives were weighted through machine tool remanufacturing experience analysis and comparative literature review. Results: The Remanufacturability Index (RI) for remanufactured conventional surface grinding machines ranges from 0.637 to 0.999 based on the level of CNC upgrades from 2-axis to 5-axis configurations. Higher-axis remanufactured machines showed greater feasibility. Theoretical Contribution: This study provides a quantitative methodology to assess the technical, economic, and environmental feasibility of remanufacturing conventional machines into CNC machine tools. It extends the application of multi-criteria decision making to the field of machine tool remanufacturing. Practical Implications: The proposed methodology can guide small and medium-sized manufacturers in making decisions to upgrade their conventional machines to CNC through remanufacturing. It helps evaluate the benefits and risks of different upgrade configurations to support the implementation of machine tool remanufacturing in practice. Sustainable Development Goals (SDGs): SDG 9: Industry, Innovation and Infrastructure; SDG 12: Responsible Consumption and Production; SDG 8: Decent Work and Economic Growth; SDG 13: Climate Action; SDG 4: Quality Educatio

Socioeconomic determinants and impacts of life expectancy in the Democratic Republic of the Congo: A time series analysis from 1960-2020

Purpose: This study aims to identify the socioeconomic determinants and impacts of life expectancy in the Democratic Republic of the Congo (DRC) from 1960-2020. Methodology: Using time series data from the World Bank, correlation analysis and Granger causality tests are employed to examine relationships between life expectancy and various macroeconomic indicators in the DRC. Results: Inflation, economic growth, population growth, and CO2 emissions are the causes of life expectancy in the DRC. In turn, life expectancy Granger causes inflation, economic growth, mineral rents, and CO2 emissions. A negative correlation is observed between mineral rents and economic growth, while inflation negatively impacts life expectancy. Theoretical Contribution: The bidirectional causality between economic growth and longevity in the DRC supports human capital theory. The study provides new evidence on the drivers and effects of life expectancy in the context of a developing, resource-rich economy. Practical Implications: The findings suggest that the DRC government should prioritize spending on health and education to promote longevity as an economic development engine. Policies controlling inflation and sustaining mineral resources are also crucial for improving life expectancy. Sustainable Development Goals (SDGs): SDG 3: Good Health and Well-being; SDG 1: No Poverty; SDG 10: Reduced Inequalities; SDG 9: Industry, Innovation and Infrastructure; SDG 11: Sustainable Cities and Communitie