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        <title>ECONOMICS Feed</title>
        <link>https://sciendo.com/journal/EOIK</link>
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            <title>ECONOMICS Feed</title>
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            <link>https://sciendo.com/journal/EOIK</link>
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        <copyright>All rights reserved 2026, Oikos Institut d.o.o.</copyright>
        <item>
            <title><![CDATA[NET ZERO TRANSITION TOWARDS DECARBONIZATION IN CONTEXT OF ENERGY SECTOR]]></title>
            <link>https://sciendo.com/article/10.2478/eoik-2026-0023</link>
            <guid>https://sciendo.com/article/10.2478/eoik-2026-0023</guid>
            <pubDate>Sun, 01 Mar 2026 00:00:00 GMT</pubDate>
            <description><![CDATA[The study provides an identification and analysis of potential enablers that facilitate transition towards net zero in the energy sector through a Multi-Criteria Decision-Making (MCDM) framework. The identified enablers and causal relationships between them in terms of decarbonization initiatives are studied using the DEMATEL method combined with trapezoidal fuzzy numbers (TFNs).The research design involves an overarching review of thirteen potential enablers to net zero transition within the energy sector, in order of their impact and causality. Top-ranked enablers that would have the greatest impact in achieving the energy transition were carbon pricing mechanisms, waste-to-energy conversion, decentralized energy systems, and circular procurement policies. The research indicates that the enablers show causal pathways that are interconnected and can take place as both causes and effects in the decarbonization framework. Application of the DEMATEL method using TFNs increases the strength of causal relationship derivation.The study adds to the literature on enabling net zero transition in energy and highlights the importance of a conceptual approach involving a combination of policy, technology, and principles of the circular economy. Such lessons can guide policymakers, industry players, and academics in planning and speeding up the process toward sustainable energy systems and world climate targets.]]></description>
            <category>ARTICLE</category>
        </item>
        <item>
            <title><![CDATA[HOW BUSINESS INTELLIGENCE SHAPES SERVICE INNOVATION: KNOWLEDGE SHARING AS A MEDIATOR AND CULTURE AS A MODERATOR IN THE JORDANIAN CONTEXT]]></title>
            <link>https://sciendo.com/article/10.2478/eoik-2026-0019</link>
            <guid>https://sciendo.com/article/10.2478/eoik-2026-0019</guid>
            <pubDate>Sun, 01 Mar 2026 00:00:00 GMT</pubDate>
            <description><![CDATA[This paper analyze how the use of business intelligence (BI) can be used to increase service innovation within insurance companies and will use the mediating role of knowledge sharing as well as the moderating role of organizational culture. A questionnaire survey was conducted on 223 respondents in the insurance firms in Jordan. Findings of the structural equation modeling (SEM) analysis show that the implementation of BI systems has a positive influence on knowledge sharing and service innovation. In addition, knowledge sharing has a positive impact on service innovation and acts as a mediator in the relationship between BI adoption and service innovation partially. On the contrary, the recommended moderating effect of organizational culture was not supported and the relationship between BI adoption and service innovation continued to be strong, irrespective of cultural variations. These results imply that BI adoption and knowledge sharing have a central role in service innovation, whereas organizational culture may influence the result of service innovation in a more indirect way, via knowledge sharing instead of direct moderating it.The proposed research makes an addition to the resource-based view (RBV) and knowledge-based view (KBV) by incorporating the use of BI technology and social factors in understanding the result of innovations in an emerging market situation. It has made significant theoretical contributions to technologically-driven innovation and pragmatic contributions to the insurers and policymakers about fostering cultures of data-driven innovation and sharing of knowledge.]]></description>
            <category>ARTICLE</category>
        </item>
        <item>
            <title><![CDATA[MODELING THE DEPENDENCE STRUCTURE BETWEEN BITCOIN, GOLD, AND EQUITY MARKETS IN TIMES OF CRISIS: A COPULA-BASED PERSPECTIVE]]></title>
            <link>https://sciendo.com/article/10.2478/eoik-2026-0018</link>
            <guid>https://sciendo.com/article/10.2478/eoik-2026-0018</guid>
            <pubDate>Sun, 01 Mar 2026 00:00:00 GMT</pubDate>
            <description><![CDATA[This paper investigates whether Bitcoin serves as a safe haven and a diversification tool for both developed and emerging stock markets during the COVID-19 crisis, in comparison with gold. The analysis covers daily data from June 18, 2012, to May 25, 2020, across a representative set of developed (S&amp;P500, FTSE100, DAX, CAC40, Nikkei225, Ibex35) and emerging (Shanghai, Nifty50, Ibovespa, MOEX) equity markets, providing a comprehensive view of asset interactions in different financial environments.Methodologically, we employ a two-step approach: an EGARCH model to estimate time-varying volatility, followed by a copula-based framework to capture nonlinear and asymmetric dependence structures. This combination allows for a nuanced assessment of asset behavior under both tranquil and crisis conditions.The results show that Bitcoin maintains weak dependence on developed equity markets during the COVID-19 period but fails to display consistent safe-haven characteristics under extreme stress. Gold, by contrast, continues to act as a reliable hedge, confirming its traditional role in protecting portfolios against market downturns. Overall, these findings suggest that while Bitcoin may provide diversification benefits under normal circumstances, it cannot yet replace gold as a robust safe-haven asset. For portfolio managers, this highlights the importance of gold in risk management, while underscoring Bitcoin’s evolving yet still uncertain role in global financial markets.]]></description>
            <category>ARTICLE</category>
        </item>
        <item>
            <title><![CDATA[CEO EMOTIONAL INTELLIGENCE LEVEL, CREATIVITY, INNOVATION AND ECONOMIC GROWTH]]></title>
            <link>https://sciendo.com/article/10.2478/eoik-2026-0020</link>
            <guid>https://sciendo.com/article/10.2478/eoik-2026-0020</guid>
            <pubDate>Sun, 01 Mar 2026 00:00:00 GMT</pubDate>
            <description><![CDATA[The objective of this article is to demonstrate the importance of emotional intelligence in shaping corporate investment decisions. It aims to explain the indirect relationship between economic growth and emotional intelligence. This relationship shows the effect of emotional skills on encouraging creativity in companies and, subsequently, on the growth of the national economy.Exploratory in nature, the empirical part attempted to fill a gap in economic science research by presenting a survey of managers of large private companies in Tunisia. Analysis of the data collected revealed the importance of the behavioural dimension in explaining variations in sectorial GDP (a proxy for the contribution of companies to economic growth). The empirical analysis shows the indirect effect of the behavioural dimension in explaining economic growth.However, the emotional intelligence of the leader is negatively correlated with sectorial GDP variation. This result contradicts our theoretical study. It attests to the negative effect of emotional management on wealth creation. However, relationship analysis announces the positive effect of emotional intelligence on the level of productivity of employees. This soft skill is positively correlated with employee productivity. This implies that emotional intelligence contributes to improving employee productivity, but it is insufficient to guarantee value creation.We also observed a positive correlation between the performance indicators of national firms (competitiveness, productivity, profitability, innovation effort, size) and sectorial GDP variation. This result implies that Tunisian companies are characterized by high benefit, high productivity, and competitiveness. This success depends on the key skills of employees, including emotional intelligence. The analysis of economic growth by integrating the behavioural dimension is consistent with that of endogenous growth theory, which shows the importance of new technologies in capital accumulation and economic growth. From this point of view, the contribution of this article is to encourage Tunisian companies to invest in human capital, including emotional learning.]]></description>
            <category>ARTICLE</category>
        </item>
        <item>
            <title><![CDATA[GREEN INVESTMENT AND FIRM VALUE IN THE REAL ESTATE AND CONSTRUCTION SECTOR: THE ROLE OF AUDITOR INDUSTRY SPECIALIZATION IN VIETNAM]]></title>
            <link>https://sciendo.com/article/10.2478/eoik-2026-0017</link>
            <guid>https://sciendo.com/article/10.2478/eoik-2026-0017</guid>
            <pubDate>Sun, 01 Mar 2026 00:00:00 GMT</pubDate>
            <description><![CDATA[The purpose of this research is to investigate the relationship between green investment and firm value, and most importantly, to analyze the moderating influence of audit firm industry specialization among listed real estate and construction companies in Vietnam, where there are significant concerns regarding information asymmetry and issues of “greenwashing.” Using a panel data set that covers 1,285 firm-year observations from 2015 to 2024, the research utilizes a Fixed Effects Model (FEM) with a variable interaction term and Driscoll-Kraay standard errors, as well as robustness checks (System GMM used to test for endogeneity, and quantile regression to detect heterogeneous effects).From the results, it is shown that the phenomenon of green investment, on its own, has no significant linear effect on firm value and is consistent with market doubt; moreover, it is an inverted U-shape relationship. More importantly, the main result shows that the positive effect of green investment on firm value only achieves statistical significance when the indirect validation of an industry-savvy auditor is “activated”; this effect is largest for undervalued firms.From this study, we find that in an information-asymmetric system, the strength of green signals is conditionally attached to the credibility of an external validation mechanism. These results add pioneering empirical evidence in Vietnam on the role of auditing quality in validating the worth of green signals. In a practical sense, this means that to create value, managers need to align green investment with a strategic selection of a specialist auditor to ensure that sustainability pledges become commercial entities on a balance sheet-wide footing, and to signal to decision-makers the need to increase transparency in the audit market.]]></description>
            <category>ARTICLE</category>
        </item>
        <item>
            <title><![CDATA[THE ASYMMETRIC EFFECT OF EXCHANGE RATES ON TOURISM DEMAND IN SOUTH AFRICA: NON-LINEAR ARDL MODEL]]></title>
            <link>https://sciendo.com/article/10.2478/eoik-2026-0014</link>
            <guid>https://sciendo.com/article/10.2478/eoik-2026-0014</guid>
            <pubDate>Sun, 01 Mar 2026 00:00:00 GMT</pubDate>
            <description><![CDATA[This study investigates the influence of exchange rate (nominal and real effective) fluctuations on tourism demand in South Africa between 1994 and 2023. The study employed the Nonlinear Autoregressive Distributed Lag (NARDL) model to analyse how currency appreciation and depreciation affect the influx of international tourists in South Africa.The results show that when the South African Rand weakens (depreciates), it attracts more tourists, while a stronger Rand (appreciation) slightly reduces tourist arrivals in South Africa. Furthermore, the study shows that interest rates positively affect tourism demand, highlighting the importance of a stable economy for tourism growth.This research contributes to understanding the link between exchange rates and tourism by showing how economic factors influence destination appeal. It offers practical advice for policymakers, such as using weaker currency periods to promote affordable tourism and countering strong currency effects with targeted marketing. The study shows that attracting tourists from many different countries and improving infrastructure can help reduce the impact of exchange rate changes. These ideas can help developing countries create better plans to grow their tourism industry.This study is among the limited number of studies exploring the asymmetric impacts of nominal and real effective exchange rates on tourism demand. Notably, it is the first to apply the non-linear ARDL approach to investigate the impacts of both nominal and real effective exchange rates on tourism demand within the South African context.]]></description>
            <category>ARTICLE</category>
        </item>
        <item>
            <title><![CDATA[ISO 9001 CERTIFICATION RENEWAL AND FINANCIAL PERFORMANCE: EMPIRICAL EVIDENCE FROM MOROCCAN LISTED COMPANIES PANEL DATA ANALYSIS FROM THE CASABLANCA STOCK EXCHANGE]]></title>
            <link>https://sciendo.com/article/10.2478/eoik-2026-0022</link>
            <guid>https://sciendo.com/article/10.2478/eoik-2026-0022</guid>
            <pubDate>Sun, 01 Mar 2026 00:00:00 GMT</pubDate>
            <description><![CDATA[This study investigates the financial impact of ISO 9001 certification and recertification on Moroccan publicly listed firms. Using a longitudinal panel of 19 continuously certified firms (88 firm-year observations, 2015–2024) and a matched sample of non-certified firms, we estimate fixed-effects and dynamic panel (GMM) models for ROA and ROE. Results show that certification tenure is associated with modest but significant improvements in financial performance. However, repeated recertification cycles yield no direct cumulative gains. Most importantly, corporate liquidity emerges as a powerful moderator: the positive effect of both certification tenure and recertification is statistically significant and economically large only among firms with strong liquidity positions (exploratory H6 supported). Sectoral heterogeneity and asset turnover effects are insignificant.These findings indicate that, in the Moroccan emerging-market context, ISO 9001 certification functions primarily as a performance catalyst rather than a universal driver. Its financial benefits materialise only when firms possess sufficient financial slack to sustain quality system investments. The study thus extends the quality management literature by identifying liquidity as a first-order contingency factor and provides actionable guidance for managers and policymakers in emerging economies.]]></description>
            <category>ARTICLE</category>
        </item>
        <item>
            <title><![CDATA[KEY POLICY RECOMMENDATIONS FOR ENHANCING THE DIGITAL ECONOMY IN VIETNAM]]></title>
            <link>https://sciendo.com/article/10.2478/eoik-2026-0021</link>
            <guid>https://sciendo.com/article/10.2478/eoik-2026-0021</guid>
            <pubDate>Sun, 01 Mar 2026 00:00:00 GMT</pubDate>
            <description><![CDATA[The digital economy has become an integral part of global GDP, and Asia is well known as an active and growing region that exhibits rapid digital economic development, and that will become the centre of the global digital economy and digital technology. This article seeks to investigate the significant factors influencing the digital economy and to propose policy measures to tackle this issue.The study’s method applies quantitative research and focuses primarily on interviewing economic experts based on real data, to gauge the factors that affect the digital economy. The authors analysed the impact of various factors on the digital economy in five large Vietnamese cities. The authors also developed and implemented the framework of the structural equation model. Based on the survey of 800 economic experts, the data sources included interviews conducted through directly administered survey tools on the basis of standardised questions. Analysis is done using software packages including SPSS version 20.0 and Amos.The results and value addition of the study suggest that there are eight relevant factors which contribute to the digital economy at a significance level of 0.01 and a range of eight accepted hypotheses. The report covers eight major drivers of the digital economy. The study underscores the critical significance of the telecommunications and information technology infrastructure to Vietnam’s digital economy. The model is also applicable to the analysis and assessment of the effect of some of the factors on the digital economy, serving as a useful reference for agencies, researchers, experts, and economic managers. The authors also recommended policy proposals to stimulate the digital economy.]]></description>
            <category>ARTICLE</category>
        </item>
        <item>
            <title><![CDATA[THE IMPACT OF FINANCIAL AID ON SCHOOL ACHIEVEMENT IN SUB-SAHARAN COUNTRIES]]></title>
            <link>https://sciendo.com/article/10.2478/eoik-2026-0010</link>
            <guid>https://sciendo.com/article/10.2478/eoik-2026-0010</guid>
            <pubDate>Sun, 01 Mar 2026 00:00:00 GMT</pubDate>
            <description><![CDATA[This study evaluates the impact of financial aid on pupils’ academic achievement in French-speaking sub-Saharan African countries, with a focus on mathematics and reading outcomes. Persistent disparities in educational performance, particularly among disadvantaged students and schools, underscore the need to understand how financial support can influence learning. The analysis applies propensity score matching to compare pupils in schools receiving local community support with those in schools without such support. This method ensures that observed differences in outcomes are attributable to financial aid rather than pre-existing differences between students or schools.The findings indicate that financial aid significantly enhances learning outcomes. Beneficiaries of such support achieve higher scores in both mathematics and reading. The effects vary by gender and type of school: girls tend to benefit more in mathematics, while boys show greater gains in reading; private and community schools experience larger improvements compared with public schools. These results suggest that targeted financial support can meaningfully improve educational achievement, particularly when adapted to the specific needs of schools and students.The study provides evidence for policymakers on effective resource allocation to reduce achievement gaps and promote equitable access to quality education. By highlighting the differential effects of financial aid, the research contributes to strategies aimed at improving learning outcomes and addressing educational inequalities across sub-Saharan Africa.]]></description>
            <category>ARTICLE</category>
        </item>
        <item>
            <title><![CDATA[MULTI-CRITERIA PERFORMANCE ASSESSMENT OF BEVERAGE COMPANIES INTEGRATING FINANCIAL AND ESG INDICATORS: A HYBRID ANALYTICAL FRAMEWORK]]></title>
            <link>https://sciendo.com/article/10.2478/eoik-2026-0009</link>
            <guid>https://sciendo.com/article/10.2478/eoik-2026-0009</guid>
            <pubDate>Sun, 01 Mar 2026 00:00:00 GMT</pubDate>
            <description><![CDATA[This research introduces a hybrid Multi-Criteria Decision-Making (MCDM) framework for assessing the multidimensional performance of beverage companies listed on the London Stock Exchange, integrating financial metrics with Environmental, Social, and Governance (ESG) indicators. The suggested approach combines two advanced objective weighting techniques—CRISUS and MAXC—with the CRADIS ranking algorithm, forming a robust and transparent decision-support structure. A total of 15 performance indicators spanning four dimensions (environmental, social, governance, and financial) were assessed for eight firms employing 2022 Refinitiv Eikon data.The framework captures the intrinsic structure of performance data, enabling reproducible and data-driven prioritization of criteria. Empirical findings reveal that innovation, closing price, and community engagement are the most influential drivers of performance, with Diageo ranking highest and Daniel Thwaites lowest. Robustness and sensitivity analyses confirm the model’s internal consistency and resistance to rank reversal, validating its reliability under varying parametric conditions.This research contributes to the MCDM literature by introducing a replicable, stakeholder-oriented, and sector-specific evaluation framework tailored to ESG-sensitive industries. The integration of financial and non-financial indicators within a unified structure enhances strategic relevance and supports evidence-based decision-making. Overall, the developed model provides actionable insights for executives, investors, and policy-makers seeking to assess corporate sustainability and competitiveness in complex decision environments.]]></description>
            <category>ARTICLE</category>
        </item>
        <item>
            <title><![CDATA[VALUE AT RISK ESTIMATION USING MARKOV-SWITCHING GARCH-EVT (POT) MODEL: A GEOPOLITICAL RISK PERSPECTIVE FROM THE IRAN-ISRAEL CONFLICT]]></title>
            <link>https://sciendo.com/article/10.2478/eoik-2026-0015</link>
            <guid>https://sciendo.com/article/10.2478/eoik-2026-0015</guid>
            <pubDate>Sun, 01 Mar 2026 00:00:00 GMT</pubDate>
            <description><![CDATA[This study investigates the impact of geopolitical conflict, specifically the Iran–Israel tension, on the volatility and extreme risk of stock markets in six indirectly involved countries: China, Russia, Turkey, the United States, the United Kingdom, and Germany. Using daily log returns from June 2023 to July 2025, the analysis begins with modelling the conditional mean using ARMA, followed by volatility modelling via the MS-GARCH(1,1) framework to capture regime changes between calm and turbulent market conditions.The presence of heavy tails and volatility clustering justifies the application of the Extreme Value Theory (EVT) using the Peaks Over Threshold (POT) method to estimate tail-related risks. The results reveal that stock markets in Iran-aligned countries (China, Russia, Turkey) generally remained in the calm regime, while Israel-aligned countries (USA, UK, Germany) exhibited more frequent transitions to high-volatility regimes. EVT parameters confirm the existence of substantial tail risks, especially in high quantiles.Value-at-Risk (VaR) estimation using the MS-GARCH–EVT(POT) model shows strong performance in capturing extreme losses. Backtesting using Kupiec’s tests validates the model’s accuracy in both frequency and timing of violations, with only minor exceptions. Overall, the combined MS-GARCH–EVT(POT) model proves to be an effective and statistically robust approach for quantifying extreme market risks during geopolitical uncertainty. These findings offer valuable insights for risk managers and policymakers in navigating financial markets under external shock scenarios.]]></description>
            <category>ARTICLE</category>
        </item>
        <item>
            <title><![CDATA[THE IMPACT OF INNOVATION ON FIRM PRODUCTIVITY: NEW EVIDENCE FROM THE WORLD BANK ENTERPRISE SURVEY]]></title>
            <link>https://sciendo.com/article/10.2478/eoik-2026-0006</link>
            <guid>https://sciendo.com/article/10.2478/eoik-2026-0006</guid>
            <pubDate>Sun, 01 Mar 2026 00:00:00 GMT</pubDate>
            <description><![CDATA[This study evaluates the causal impact of innovation on firm productivity in the Middle East and North Africa (MENA) region, where economic structures and institutional frameworks differ from those in advanced economies. Drawing on World Bank Enterprise Survey data from Egypt, Jordan, Lebanon, Morocco, and Tunisia, the analysis employs the propensity score matching (PSM) method to estimate the productivity effects of innovation while minimizing selection bias.The findings reveal that innovation significantly improves firm productivity in Egypt, Jordan, Lebanon, and Morocco, with average treatment effects ranging from 28% to 44%. In Tunisia, the effect is positive but statistically insignificant, reflecting structural constraints such as limited access to finance, weak research-industry linkages, and rigid institutions. Further analysis shows that the productivity impact of innovation is heterogeneous across contexts: small firms in Egypt, Jordan, and Lebanon benefit the most, while medium-sized firms in Morocco and Tunisia record the strongest gains. Large firms display positive but generally insignificant effects, suggesting that innovation-driven productivity advantages are not evenly distributed across firm categories.These results underscore the need for context-specific innovation policies in the MENA region. Strengthening financial access, fostering collaboration between firms and research institutions, and tailoring strategies to firm characteristics are crucial for maximizing the productivity benefits of innovation. By focusing on emerging economies, this study contributes to the literature by providing new empirical evidence on the innovation–productivity nexus and highlights innovation as a key lever for competitiveness and sustainable growth in the region.]]></description>
            <category>ARTICLE</category>
        </item>
        <item>
            <title><![CDATA[THE INFLUENCE OF FINANCIAL DEVELOPMENT AND FDI INFLOWS ON ECONOMIC GROWTH: EMPIRICAL EVIDENCE FROM GCC COUNTRIES USING PMG-ARDL APPROACH]]></title>
            <link>https://sciendo.com/article/10.2478/eoik-2026-0011</link>
            <guid>https://sciendo.com/article/10.2478/eoik-2026-0011</guid>
            <pubDate>Sun, 01 Mar 2026 00:00:00 GMT</pubDate>
            <description><![CDATA[This study investigates the long-run relationship between economic growth, foreign direct investment (FDI), and financial development (FD) in the Gulf Cooperation Council (GCC) countries over the period 1980–2023. The PMG-ARDL technique is used to estimate an extended panel growth model, which includes trade openness (TO) as control variable and an interaction variable (INT) calculated as the product of FDI and FD.The estimated results of the long-run cointegration relationship reveal negative effects of FD and the interaction variables, whereas FDI and trade openness exert positive effects on GCC countries’ economic growth. Moreover, we apply the Dumitrescu and Hurlin (2012) heterogeneous Granger causality technique and identify a total of six bi-directional short-run links among LRGDP and FD, LRGDP and INT, LRGDP and LFDI, LRGDP and LTO, FD and INT, and LFDI and LTO, whereas three unidirectional short-run causalities are observed among certain variables such as LFDI to FD, LTO to FD, and LFDI to INT.Besides, we identify a long-run bidirectional causality among LRGDP and the error correction mechanism. The study recommends that the GCC countries must make additional efforts to regulate their financial sector, stimulate private investment and private consumption, and diversify their economies to attract FDI.]]></description>
            <category>ARTICLE</category>
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        <item>
            <title><![CDATA[THE EFFECT OF CARBON TRADING ON CORPORATE DIGITAL TRANSFORMATION]]></title>
            <link>https://sciendo.com/article/10.2478/eoik-2026-0003</link>
            <guid>https://sciendo.com/article/10.2478/eoik-2026-0003</guid>
            <pubDate>Sun, 01 Mar 2026 00:00:00 GMT</pubDate>
            <description><![CDATA[This study examines the impact of market-based environmental regulation on corporate digital transformation, using China’s carbon emission trading pilot policy as a representative initiative. Analyzing data from Shanghai and Shenzhen A-share listed companies between 2009 and 2020 through a multi-period difference-in-differences (DID) approach with two-way fixed effects, we investigate the underlying mechanisms. By developing a comprehensive evaluation framework encompassing five technological dimensions—artificial intelligence, big data, cloud computing, blockchain, and digital technology applications—we find that market-based environmental regulation significantly promotes corporate digital transformation, demonstrating a robust positive causal relationship.To ensure reliability, our findings withstand a series of robustness checks, including parallel trend tests, placebo tests, PSM-DID estimations, and variable replacement tests. Heterogeneity analysis reveals substantial variations in policy effects: the promoting effect on state-owned enterprises is approximately twice as strong as that on non-state-owned enterprises. Furthermore, while the policy significantly enhances digital transformation among small and medium-sized enterprises, its impact on large enterprises remains statistically insignificant.This research highlights the crucial role of market-based environmental regulation in driving corporate digital advancement, providing empirical evidence for policymakers to refine environmental regulation systems and implement differentiated strategies for corporate green transformation. It also offers practical insights for enterprises of varying ownership structures and sizes in pursuing digital transformation within sustainable development frameworks.]]></description>
            <category>ARTICLE</category>
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            <title><![CDATA[OPEN SUSTAINABLE INNOVATION IN PORT ECOSYSTEMS: A LITERATURE REVIEW]]></title>
            <link>https://sciendo.com/article/10.2478/eoik-2026-0002</link>
            <guid>https://sciendo.com/article/10.2478/eoik-2026-0002</guid>
            <pubDate>Sun, 01 Mar 2026 00:00:00 GMT</pubDate>
            <description><![CDATA[Maritime ports are under growing pressure to reconcile operational efficiency with environmental and social sustainability. This paper investigates how open innovation can accelerate sustainable transformation across port ecosystems by proposing the integrative paradigm of Open Sustainable Innovation (OSI). The study adopts a semi-systematic literature review of peer-reviewed articles indexed in Scopus and Web of Science (2014–2024). Bibliometric mapping techniques were combined with qualitative synthesis to identify recurrent practices and trends. Comparative evidence from leading European ports complements the analysis.The findings reveal that OSI practices—such as open data initiatives, incubators, start-up challenge programs, and multi-stakeholder governance intermediaries—support improvements in process efficiency, environmental performance, and digital capability building. At the same time, significant barriers persist, including institutional inertia, fragmented funding, regulatory misalignment, uneven digital maturity, and limited impact assessment. Evidence from Rotterdam, Valencia, Barcelona, and Motril demonstrates that the orchestration capacity of port authorities and intermediaries, supported by robust digital infrastructures and inclusive innovation cultures, determines the scalability of OSI initiatives.Conceptually, OSI is positioned as the coupling of cross-boundary knowledge flows with triple-bottom-line objectives. The article concludes by outlining a future research agenda focused on ecosystem governance, value distribution, and long-term impact evaluation. By consolidating fragmented knowledge, this study contributes to both academic discourse and managerial practice, providing guidance for ports seeking to move beyond isolated pilot projects towards systemic, sustainability-aligned innovation.]]></description>
            <category>ARTICLE</category>
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            <title><![CDATA[DO FINANCIAL INNOVATIONS MATTER? EXPLORING STRATEGY–PERFORMANCE LINKAGES IN INDONESIAN BANKING UNDER COMPETITIVE PRESSURE]]></title>
            <link>https://sciendo.com/article/10.2478/eoik-2026-0013</link>
            <guid>https://sciendo.com/article/10.2478/eoik-2026-0013</guid>
            <pubDate>Sun, 01 Mar 2026 00:00:00 GMT</pubDate>
            <description><![CDATA[The aim of this research is to examine the mediating role of financial innovation and the moderating role of market competitiveness in the relationship between business strategy and firm performance after the Indonesian Financial Services Authority (OJK) introduced regulations on digital banking services, and to further analyze the impact of the COVID-19 pandemic. The paper consists of 294 observations of banking firms for the period 2018–2023. The results were examined through Hayes’ PROCESS Macro Model 15. These findings relate to Resource-Based View (RBV) and Industrial Organization (IO) theories.Across the timeline, major regulatory changes, financial technology development, and customer preferences occurred for banks. The effectiveness of strategy implementation is one major determinant contributing to the variation in firm performance. Banks are therefore recommended to align their business strategies with the level of market competitiveness to enhance performance.This study has several limitations: (1) there are data gaps, especially in the NSFR ratio, which was imputed by KNN; (2) there is scant empirical literature that substantiates hypotheses 7a and 7b; and (3) there are limitations in time and resources for manual data collection of financial innovation data. However, the research was conducted, and the results were positive. The novelty of this study lies in the development of a more holistic moderated-mediation research model using Hayes’ PROCESS Macro. Another novelty is the attempt to reconstruct the measurement of business strategy variables to complement existing models.]]></description>
            <category>ARTICLE</category>
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            <title><![CDATA[INTERNAL CONTROL SYSTEMS AND TECHNOLOGICAL CAPABILITIES AS DRIVERS OF BANK RISK MANAGEMENT FOR ADVANCING SUSTAINABLE DEVELOPMENT GOAL 16]]></title>
            <link>https://sciendo.com/article/10.2478/eoik-2026-0012</link>
            <guid>https://sciendo.com/article/10.2478/eoik-2026-0012</guid>
            <pubDate>Sun, 01 Mar 2026 00:00:00 GMT</pubDate>
            <description><![CDATA[We thus conduct this study to investigate the contribution of both internal control systems and technological capabilities on bank-wide risk management and its effect on institutional transparency, and towards SDG 16 (Sustainable Development Goal). Based on data from 448 senior managers of 26 commercial banks in Vietnam, this study utilizes Partial Least Squares Structural Equation Modelling to analyse the relationships among various internal control elements, technological integration, risk management, and institutional outcomes.We found that all five elements of the internal control mechanism help enhance risk management. For monitoring, it has the strongest effect, followed in the order of information and communication, control activities, control environment, and risk assessment. The big data capability has little effect on the application of artificial intelligence, but the application of artificial intelligence does have a real impact on risk management. The research also suggests that risk management contributes to the SDG directly and to institutional transparency. Institutional transparency, in addition, contributes positively to SDG as well as being a partial mediator between risk management and SDG.These results indicate that enhancements in internal control mechanisms and adoption of technology enhance risk governance, resulting in more institutional transparency and advancement towards SDG. The study adds to the literature by explaining how risk management and transparency link and contribute towards sustainable development in banking. It also has implications for policymakers and banking executives who wish to enhance institutional integrity and resilience in emerging economies.]]></description>
            <category>ARTICLE</category>
        </item>
        <item>
            <title><![CDATA[THE ROLE OF FINANCIAL INCLUSION IN ENHANCING EGYPTIAN ECONOMIC GROWTH THROUGH DIGITAL FINANCIAL SERVICES AND FINANCIAL TECHNOLOGY]]></title>
            <link>https://sciendo.com/article/10.2478/eoik-2026-0016</link>
            <guid>https://sciendo.com/article/10.2478/eoik-2026-0016</guid>
            <pubDate>Sun, 01 Mar 2026 00:00:00 GMT</pubDate>
            <description><![CDATA[Financial inclusion has been a major driver of economic growth and a primary strategy for achieving it in the majority of economies globally over the past few years. Most nations have regarded it as a modern program aimed at ensuring equitable and sustainable economic expansion. To this extent, the paper sheds light on the causal relationship between economic growth and financial inclusion in Egypt between 2008 and 2023. The paper aims to address the following question: How do indicators of financial inclusion impact economic growth in Egypt?To address this question, the research aimed to analyse the cause-effect relationship between a set of financial inclusion indicators, including the number of bank accounts, the number of bank payment cards, the number of bank branches, the number of ATMs, the volume of individual deposits, and the value of credit provided to individuals, as well as the economic growth of Egypt according to Gross Domestic Product (GDP).The research employed the Vector Autoregression (VAR) method to investigate the causal relationships among the research variables. The results showed that measures of financial inclusion directly affect Egypt’s economic growth rate. Based on these results, the article recommends enhancing the provision of banking services by streamlining the opening requirements for bank accounts and business licenses, and by improving access to these services across all areas of the Arab Republic of Egypt.]]></description>
            <category>ARTICLE</category>
        </item>
        <item>
            <title><![CDATA[HOW CAN INNOVATION ECOSYSTEMS ACCELERATE DECARBONIZATION AND GREEN GROWTH?]]></title>
            <link>https://sciendo.com/article/10.2478/eoik-2026-0008</link>
            <guid>https://sciendo.com/article/10.2478/eoik-2026-0008</guid>
            <pubDate>Sun, 01 Mar 2026 00:00:00 GMT</pubDate>
            <description><![CDATA[Eco-innovation, as a new business approach that promotes sustainability throughout the product life cycle, is shaping the green transition and the pace of growth. Green growth and decarbonization are strategic imperatives aiming for a high-income economy. To achieve long-term goals, it is necessary to establish a stimulating innovation ecosystem, supported by a developed infrastructure, which can accelerate decarbonization and green growth. European Union countries have made significant progress in shaping the eco-innovation environment, measured by the Eco-innovation Index, which can be a landmark for the countries of the Western Balkans.In this regard, the focus of the paper is on the analysis of the situation in the countries of the Western Balkans. Decisions taken today influence the Western Balkan ability to meet decarbonization and green growth. The authors investigate how far the Western Balkan countries are along the road to decarbonization, and what remains to be done in the innovation ecosystem in the strategic framework and policy recommendations. The paper will investigate whether Western Balkan countries that have more developed innovation ecosystem measured by the AI Preparedness Index (AIPI) published by International Monetary Fund, achieve greater Green Growth and lower Global Greenhouse Gas (GHG) total emissions and GHG per GDP emissions. The results obtained from the comparative analysis could be the basis for creating strategic priorities and convergence policies in selected countries in the coming period.]]></description>
            <category>ARTICLE</category>
        </item>
        <item>
            <title><![CDATA[CRITERIA FOR INTERNATIONAL MARKET SELECTION: INSIGHTS FROM EXPERTS IN COLOMBIA AND ECUADOR]]></title>
            <link>https://sciendo.com/article/10.2478/eoik-2026-0001</link>
            <guid>https://sciendo.com/article/10.2478/eoik-2026-0001</guid>
            <pubDate>Sun, 01 Mar 2026 00:00:00 GMT</pubDate>
            <description><![CDATA[International market selection involves multiple decision-making factors, whose understanding is crucial for business success in the era of globalization. In this sense, the aim of this study is to assess the relevance of some international market selection criteria from a comparative academic perspective between Colombian and Ecuadorian professors, building upon previous research on international market selection criteria. Similarly, a quantitative method was used in this research; in this case the Analytic Hierarchy Process (AHP) was applied to 30 international business expert professors from Colombia and Ecuador. The analysis considered five general factors (Costs, Logistics, Trade Barriers, Economics, and Cultural Environment) and 23 specific sub-factors, evaluated through paired comparisons using a 1–9 scale. A geometric mean was employed to consolidate expert judgments. This research shows Colombian professors prioritized Logistics (0.2377) and Trade Barriers (0.2226), while Ecuadorian professors emphasized Trade Barriers (0.2369) and Logistics (0.2200). Country risk was identified as the most relevant sub-factor by both groups, with weights of 0.1045 and 0.0849 respectively. Cultural Environment and Costs received the lowest ratings in both countries. Therefore, the study reveals significant similarities in academic perceptions between both countries, prioritizing aspects related to medium and long-term business risks over traditionally considered factors such as costs, contributing to the existing literature on international market selection criteria assessment.]]></description>
            <category>ARTICLE</category>
        </item>
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