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        <title>Proceedings of the International Conference on Business Excellence Feed</title>
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            <title><![CDATA[Financial reporting quality in digital era: Evidence from Romanian professionals]]></title>
            <link>https://reference-global.com/article/10.2478/picbe-2026-0467</link>
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            <pubDate>Fri, 25 Sep 2026 00:00:00 GMT</pubDate>
            <description><![CDATA[The quality of financial reporting is an essential element of the efficient functioning of organizations and user trust, in a context marked by accelerated digitalization and the expansion of sustainability reporting requirements. The literature highlights that quality reporting depends not only on standard compliance, but also on the interaction between professional competence and ethics, technological infrastructure, organizational culture and institutional framework. However, empirical research in emerging economies, from the perspective of accounting professionals, is limited. The study analyzes the perceived determinants of financial reporting quality in Romania, using a quantitative cross-sectional design, based on a questionnaire applied to a sample of 161 accounting professionals. The associations between the perception of reporting quality and professional competence, ethics, digitalization and accounting information systems, organizational culture and internal control, and regulatory compliance are tested. The results indicate positive and significant relationships for all factors analyzed, with the model having high explanatory power. Professional ethics and digitalization stand out as key determinants, underlining the role of professional judgment and technological infrastructure. The study contributes by proposing an integrated model applied to an emerging economy and offers relevant implications for practice and regulation in the context of digital transformations and new sustainability requirements.]]></description>
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            <title><![CDATA[Strategic Leadership Approaches for Market Growth: An Exploratory Study of the Dairy Industry in the Middle Eastern Region]]></title>
            <link>https://reference-global.com/article/10.2478/picbe-2026-0468</link>
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            <pubDate>Fri, 25 Sep 2026 00:00:00 GMT</pubDate>
            <description><![CDATA[This exploratory study explores the strategic leadership approaches that shape market growth in the dairy industry within the Middle Eastern region. This study leverages qualitative data from in-depth interviews with senior executives and identifies critical strategies that enable firms to navigate complex market dynamics, respond to regional economic initiatives, and maintain competitive advantage. A total of 14 interviews were conducted from the different dairy companies situated in the Middle Eastern region. The study highlighted the importance of a clear strategic vision associated with national economic goals, the integration of innovative technologies, adaptability to market changes, and a centralized focus on sustainability. The study also stressed the role of talent management and organizational culture for achieving operational excellence.]]></description>
            <category>ARTICLE</category>
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        <item>
            <title><![CDATA[Retraction note Information about artcle’s retraction]]></title>
            <link>https://reference-global.com/article/10.2478/picbe-2026-0469</link>
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            <pubDate>Fri, 25 Sep 2026 00:00:00 GMT</pubDate>
            <category>ARTICLE</category>
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        <item>
            <title><![CDATA[Popular Brands on TikTok and identifying the factors that contribute to their effectiveness in communication]]></title>
            <link>https://reference-global.com/article/10.2478/picbe-2026-0466</link>
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            <pubDate>Wed, 02 Sep 2026 00:00:00 GMT</pubDate>
            <description><![CDATA[TikTok is one of the most popular social networks, having more than 1billion users. This network has significantly grown in popularity during the COVID pandemic, where people found a place to be entertained and spend their spare time, besides traditional media. In recent years the focus of marketers is targeting Gen-Z consumers, and this social network is super popular among them. So, businesses and marketeers adapt their communication to be appealing to this target audience. At the present time, given the fact that the subject is rather new, scientific literature is rather limited to covering the topic. This paper’s objective is to find which factors are essential in making brand’s communication go viral on TikTok, considering also Gen Z preferences: whether is the frequency of posting and adapting to trends, whether is the capacity of offering entertainment or the power of uploading vulnerable/authentic content or collaborating with the right content creators. The research is a quantitative one, taking into consideration several social network key performance indicators and verifying performance through a matrix model. The key findings of the paper were that brands coming from industries such as Entertainment, Sports, Fashion and Beauty have higher chances of becoming viral on TikTok. Furthermore, there are brands that belong to other industries, but due to their posting frequency or attention to qualitative trending content, have become popular on the platform as well. The paper’s contribution to the field can be used by businesses and marketeers to adapt their communication on this social network to be more successful.]]></description>
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        <item>
            <title><![CDATA[Integrating Artificial Intelligence Governance into Business Excellence: A Design-Oriented Capability Framework for Small and Medium-Sized Enterprises in Emerging Europe]]></title>
            <link>https://reference-global.com/article/10.2478/picbe-2026-0465</link>
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            <pubDate>Wed, 02 Sep 2026 00:00:00 GMT</pubDate>
            <description><![CDATA[Organizations that pursue business excellence increasingly rely on data-intensive and automated decision support. At the same time, managers face widening expectations regarding accountability, transparency, and societal impact when deploying artificial intelligence (AI). This paper develops a compact, design-oriented capability framework that helps small and medium-sized enterprises (SMEs) integrate AI governance into the continuous improvement routines of established excellence models. Building on an integrative synthesis of business excellence, Quality 4.0, and AI governance standards and policy guidance, the study translates high-level principles into auditable management practices that are feasible under resource constraints and high vendor dependence. The framework specifies six governance capabilities: (1) leadership accountability, (2) risk and impact assessment, (3) lifecycle controls for data and models, (4) transparent documentation, (5) human oversight and skills, and (6) ecosystem and supplier management. These capabilities are mapped to excellence dimensions and operationalized through a maturity rubric and decision templates that support readiness assessment and investment prioritization. The contribution is the integration logic: rather than proposing new AI governance principles, the paper shows how SMEs can embed existing governance requirements into excellence-based planning, audit, and corrective-action cycles while making trade-offs explicit for emerging European ecosystem contexts.]]></description>
            <category>ARTICLE</category>
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        <item>
            <title><![CDATA[The Gift as a Language of Trust]]></title>
            <link>https://reference-global.com/article/10.2478/picbe-2026-0459</link>
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            <pubDate>Thu, 20 Aug 2026 00:00:00 GMT</pubDate>
            <description><![CDATA[Corporate and diplomatic gifts extend beyond their material form, serving as instruments of symbolic, non-verbal communication in international context. Drawing on thirty-three years of professional experience of authors and grounded in the theoretical foundations of business protocol, corporate ethics, and intercultural communication, the paper views gift-giving as a structured practice embedded in trust formation. The analysis focuses on the relational, symbolic, and strategic functions of corporate gifts in global and cross-cultural context. Particular attention is given to ethical and legal boundaries and the practical logic that guides the selection and presentation of gifts in cross-border environments. The paper argues that when gifts are culturally sensitive, ethically bounded, and strategically aligned, they function as a distinct “language of trust,” reinforcing long-term partnerships, enhancing corporate reputation, and supporting sustainable international cooperation.]]></description>
            <category>ARTICLE</category>
        </item>
        <item>
            <title><![CDATA[Stagnation in Motion: Mapping the Intermodal Export Logistics of Dacia and Ford Otosan in Romania]]></title>
            <link>https://reference-global.com/article/10.2478/picbe-2026-0461</link>
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            <pubDate>Thu, 20 Aug 2026 00:00:00 GMT</pubDate>
            <description><![CDATA[The automotive industry represents a fundamental pillar of the Romanian economy, having recently surpassed a significant production milestone of over 500,000 vehicles annually. This paper examines the industrial and logistical dynamics of the two primary manufacturers, Automobile Dacia and Ford Otosan, following the complicated post-pandemic period of volatility and a strained logistical network. Current academic literature touches upon the broad stability of Eastern European manufacturing and its sustainable transition. However, this high-level perspective often overlooks the localized economic realities and logistical hurdles specific to Romania. This study addresses that gap by providing a much-needed empirical look at how transportation constraints are currently shaping regional performance. The research methodology utilizes a quantitative approach, employing regression analysis and statistical metrics such as the coefficient of variation to evaluate the correlation between corporate turnover and Gross Domestic Product at local, regional and national levels. The study seeks to answer how these production facilities influence surrounding economic development and to what extent infrastructure limitations hinder outbound distribution. Findings indicate that Automobile Dacia continues to provide a stable industrial baseline, yet it is Ford Otosan’s recent scaling that has driven the most significant economic gains in South-West Oltenia. Although the 2025 Schengen accession effectively removed border-crossing bottlenecks, these logistical gains are being undercut by Romania’s degrading national rail network. Another central contribution of this research is outlining the disconnect between industrial growth and infrastructure development, generating an imbalanced use of intermodal transportation and impeding finished vehicles' logistics efficiency. To remain a major European automotive industry player, Romania must close the gap between its record-breaking production volumes and the struggling road and rail transportation networks that move them.]]></description>
            <category>ARTICLE</category>
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        <item>
            <title><![CDATA[On the Edge of the Drop: Water Stress and National Security in Bulgaria in the Context of Marketing-Based Approaches to Adaptive Water Governance]]></title>
            <link>https://reference-global.com/article/10.2478/picbe-2026-0462</link>
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            <pubDate>Thu, 20 Aug 2026 00:00:00 GMT</pubDate>
            <description><![CDATA[Water stress is increasingly recognized as a critical challenge for public governance, social stability, and national security. While it is often addressed primarily as a technical or environmental issue, its social, behavioral, and institutional dimensions receive comparatively less attention. This paper examines water stress in Bulgaria as a complex socio-political risk arising from the interaction between physical resource constraints, governance capacity, public behavior, and institutional trust. The study adopts an interdisciplinary analytical approach combining a structured literature review, comparative analysis of international water crisis cases, and an indicative empirical survey assessing public awareness and behavioral responses to water stress. The analysis highlights how deficiencies in institutional communication, transparency, and demand management can amplify societal impacts, even where physical water availability is not critically constrained. Building on these findings, the paper proposes an integrated analytical framework that structures water stress governance across three interrelated phases: prevention, crisis management, and long-term adaptation (the PCA model). Within this framework, marketing-based and behavioral governance instruments are conceptualized as mechanisms linking technical measures with public behavior and institutional legitimacy, rather than as substitutes for infrastructural or regulatory solutions. The results indicate substantial adaptive potential at the societal level, reflected in a willingness to change behavior that remains underutilized due to fragmented institutional signals and limited public trust. The PCA model is presented as an analytical, not causally tested, framework, offering transferable insights for adaptive water governance where critical infrastructure management intersects with social trust and behavioral change.]]></description>
            <category>ARTICLE</category>
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        <item>
            <title><![CDATA[Tax Mix Convergence and Economic Performance in the EU27]]></title>
            <link>https://reference-global.com/article/10.2478/picbe-2026-0460</link>
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            <pubDate>Thu, 20 Aug 2026 00:00:00 GMT</pubDate>
            <description><![CDATA[Tax policy and the structure of taxation represent important components of fiscal policy and may influence economic performance across countries. In the context of the European Union, increasing economic integration raises the question of whether national tax systems are becoming more similar and whether this process is accompanied by convergence in economic performance. Although existing literature extensively examines the relationship between tax structure and economic growth, empirical evidence remains fragmented and the extent of tax structure convergence within the EU remains insufficiently explored. This study analyses the evolution of tax mix structures and economic performance across the 27 current member states of the European Union (EU27) during the period 2000–2024. The analysis uses harmonised data from the Eurostat database and focuses on three main tax revenue categories: taxes on production and imports, current taxes on income and wealth, and net social contributions. Economic performance is measured using GDP per capita expressed in purchasing power standards (PPS). The study applies sigma convergence indicators, specifically the standard deviation and the coefficient of variation, to evaluate whether EU countries are becoming more similar in terms of tax structure and economic performance. The results indicate that the dispersion of tax structures across EU countries has remained relatively stable over time, suggesting limited convergence of national tax systems despite ongoing economic integration. Similarly, persistent differences in GDP per capita indicate that economic convergence within the EU remains incomplete. The paper contributes to the literature by providing a long-term descriptive analysis of tax mix dispersion in the European Union and by linking the evolution of tax structures with differences in economic performance. These findings highlight the continued diversity of national tax systems within the EU and provide new insights into the relationship between fiscal heterogeneity and economic convergence.]]></description>
            <category>ARTICLE</category>
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        <item>
            <title><![CDATA[Digital Twin Maturity Level Effects on Microgrid Resilience Validated Through Monte Carlo Simulation]]></title>
            <link>https://reference-global.com/article/10.2478/picbe-2026-0149</link>
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            <pubDate>Tue, 28 Jul 2026 00:00:00 GMT</pubDate>
            <description><![CDATA[Industry 4.0. represents a critical framework for energy transformation, in the context of digital twin (DT) technology advancements. To enhance microgrid resilience towards the current net-zero targets, this paper proposes a predictive DT architecture that alligns with RAMI 4.0. The proposed architecture leverages the component of the Asset Administration Shell (AAS) as a standardized container that unigies communication and lifecycle management allowing interoperability across distributed energy resources. The approach is validated using a Monte Carlo simulation performed in RStudio by comparing three different levels of DT maturity: baseline/passive, reactive, and predictive. Statistically significant improvements are seen across all analysed metrics. Comparing with the baseline DT the reactive DT managed a 68% reduction in energy not served (ENS), cutting detection delays from 0.5s to 0.15 s and transition times from 2.5s to 0.95s. Additionally, predictive DTs showed an improvement of 21% over reactive DT, meeting utility grade standards of 89% overall reduction, 50ms detection delay, and 98% black start success rate. According to the results the reactive DT captures the a significant amount of benefits backing-up immediate smart microgrid investments. Predictive DT capabilities justify advanced DT research. Both DT progressions achieve greater than 98% stability margins, proof that RAMI 4.0-integrated DTs enables the Industry 4.0 transformation for resilient distributed energy resources. Through the RAMI 4.0.-alligned three-tier DT maturity AAS architecture and a quantitative Monte Carlo simulation comparison between the DT configurations, this work offers evidence supporting the role of reactive and predictive DT in enhancing energy system resilience.]]></description>
            <category>ARTICLE</category>
        </item>
        <item>
            <title><![CDATA[Digital Transformation and Organizational Climate: A Bibliometric Analysis of Implications for Performance in Business Ecosystems]]></title>
            <link>https://reference-global.com/article/10.2478/picbe-2026-0140</link>
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            <pubDate>Tue, 28 Jul 2026 00:00:00 GMT</pubDate>
            <description><![CDATA[Businesses can develop new work systems through digital transformation with artificial intelligence technology, but their competitive pressures often lead to unanticipated business outcomes which show that organizational elements decide success. The research field has experienced fast growth, but its content exists in separate sections which study strategic elements and organizational and psychological aspects and the direct connection between organizational climate and digitalization and economic performance needs more development. The research uses a bibliometric analysis to create a map which shows how digital transformation, artificial intelligence and organizational climate and performance effects relate to each other. The research design uses performance evaluation together with relational methods which include co-word and co-citation analysis and temporal assessment through VOSviewer overlay visualization. The research investigates four questions which examine how the literature developed and where it exists (Research Question 1) and which thematic groups emerged (Research Question 2) and which theoretical models predominate and how organizational climate fits into the framework (Research Question 3) and what knowledge gaps exist and how different fields can connect (Research Question4). The research provides two main contributions through its definition of the field structure and its development of a comprehensive framework which connects digitalization/artificial intelligence to organizational climate and performance outcomes.]]></description>
            <category>ARTICLE</category>
        </item>
        <item>
            <title><![CDATA[Contents]]></title>
            <link>https://reference-global.com/article/10.2478/picbe-2026-0002</link>
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            <pubDate>Tue, 28 Jul 2026 00:00:00 GMT</pubDate>
            <category>ARTICLE</category>
        </item>
        <item>
            <title><![CDATA[Driving Competitive Advantage through AI and Digital Ecosystems]]></title>
            <link>https://reference-global.com/article/10.2478/picbe-2026-0001</link>
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            <pubDate>Tue, 28 Jul 2026 00:00:00 GMT</pubDate>
            <category>ARTICLE</category>
        </item>
        <item>
            <title><![CDATA[Preface]]></title>
            <link>https://reference-global.com/article/10.2478/picbe-2026-0003</link>
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            <pubDate>Tue, 28 Jul 2026 00:00:00 GMT</pubDate>
            <category>ARTICLE</category>
        </item>
        <item>
            <title><![CDATA[Artificial Intelligence in Corporate Governance: Perceptions and Challenges in Listed Companies]]></title>
            <link>https://reference-global.com/article/10.2478/picbe-2026-0239</link>
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            <pubDate>Mon, 27 Jul 2026 00:00:00 GMT</pubDate>
            <description><![CDATA[Artificial intelligence is changing the way companies make decisions and manage risks. Traditional corporate governance models, which have mainly relied on human judgment, are now facing important changes. Existing studies discuss both the benefits of AI, such as better monitoring and data analysis, and the risks related to accountability, ethics, and the “black box” nature of some algorithms. However, there is still limited empirical evidence, especially in emerging markets.This paper examines how listed companies perceive the integration of artificial intelligence into corporate governance. It focuses on the main factors that encourage or hinder the adoption of AI. Using a qualitative pilot study, we conducted email interviews with board members and senior managers from companies listed on the Bucharest Stock Exchange. The study explores whether these business leaders consider artificial intelligence a reliable partner in strategic decision-making and how they balance technological automation with the fundamental principles of corporate governance. The results show that AI is increasingly appreciated for its ability to analyze large amounts of data and improve monitoring processes. At the same time, respondents clearly see AI as a tool that supports decision-making rather than replacing the experience and judgment of board members. Despite these advantages, several important barriers remain. The main concerns include cybersecurity risks, a shortage of specialized knowledge, and uncertainty about legal and regulatory issues. Overall, this paper provides an initial view of how companies in emerging markets are approaching this transition and highlights the need for stronger and more flexible governance frameworks to manage the use of algorithm-based tools.]]></description>
            <category>ARTICLE</category>
        </item>
        <item>
            <title><![CDATA[Detection and Prevention of Fraud in Online Auction]]></title>
            <link>https://reference-global.com/article/10.2478/picbe-2026-0067</link>
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            <pubDate>Fri, 24 Jul 2026 00:00:00 GMT</pubDate>
            <description><![CDATA[Online auctions have become an increasingly popular and convenient method for conducting e-commerce transactions over the Internet. However, the rapid growth in the number of users participating in online auctions has also led to the emergence of auction fraud. Among the most common forms is shill bidding. This type of fraud consists of intentionally deceptive bidding carried out by the seller on their own product in order to artificially inflate the final price. This may be done either directly by the seller or by an individual acting in collusion with the seller by placing fictitious bids on their behalf. Therefore, investigating a large number of auctions and participants in order to identify shill bidding activities is a challenging task. In this paper, by applying Dempster–Shafer theory, methods are presented for determining whether an auction in which a user intends to participate is affected by fraudulent behavior. The research methodology integrates mathematical modeling with statistical and empirical approaches and is grounded in Dempster–Shafer theory in order to develop a robust framework for detecting fraudulent behavior in online auction systems. The main findings and implications for the auction field consist in providing a clear analytical framework for evaluating auctions and in offering a competitive advantage to participating users. The contribution of this paper to the field lies in clarifying the mechanisms employed within auctions for all participants. The purpose of the paper is to serve as a useful tool for understanding and participating in auctions by providing a clear bidding framework and contributing to the prevention of artificial price inflation.]]></description>
            <category>ARTICLE</category>
        </item>
        <item>
            <title><![CDATA[Digital Literacy and Academic Outcomes in Support of Smart City Policies and Economy Growth]]></title>
            <link>https://reference-global.com/article/10.2478/picbe-2026-0060</link>
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            <pubDate>Fri, 24 Jul 2026 00:00:00 GMT</pubDate>
            <description><![CDATA[This paper explores the relationship between the role of digital literacy and education performance and the existing and proposed smart city strategies in the European Union, with specific focus on the youth in the education and employment system. As a result of evolution of digital innovation, the economic frameworks of modern cities are transformed, with the acquisition of skills being the primary drivers or bridges between digital evolution and meaningful social and economic impact. In existing literature, a major thrust is given to role of digital skills, connectivity, and technology implementation, and the performance disparities in the process of evolution and adaptation. In applying the quantitative panel approach, all the present European member countries were subjected to the statistical framework of the study, in a periodical process for the duration of six years between 2017 and 2022. In the endogenous variable, the measure and proportion of the youth disengaged from the workforce and even the process of education is captured, while the exogenous variable gains in the quality of digital evolution, the adaptability of institutional usage of technology, and the aggregate level of individual skills of the population concern. The findings of the research confirm the negative link between enhancements in the quality of digital evolution and the disengagement of the youth. This paper adds to the existing body of knowledge by applying the employment and education of the youth in the process of measuring the evolution and maturity of the smart city strategy.]]></description>
            <category>ARTICLE</category>
        </item>
        <item>
            <title><![CDATA[Who Benefits from Digitalisation? Gender and Migration Gaps in Employment across EU Countries]]></title>
            <link>https://reference-global.com/article/10.2478/picbe-2026-0064</link>
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            <pubDate>Fri, 24 Jul 2026 00:00:00 GMT</pubDate>
            <description><![CDATA[Digitalization has often been discussed as an opportunity to promote social equality and create job opportunities. Nevertheless, there is growing evidence suggesting that the effects of digitalization on job creation are uneven and largely depend on the already existing inequalities. This research seeks to examine the relationship between digitalization and employment in EU member states considering the roles of gender and migration. Namely, the influence of increasing internet use on employment will be evaluated regarding women and first and second generations of migrants based on a short panel data set for 2021-2024.It has been revealed that digitalization positively impacts employment; however, this correlation varies depending on the studied group. Second-generation migrants appear to benefit more from improved employment because of the wider use of the internet than first-generation migrants who cannot reap similar rewards. Moreover, as regards the gender aspect, digitalization does not have any notable effects on the labor market and provides limited opportunities for women's employment.]]></description>
            <category>ARTICLE</category>
        </item>
        <item>
            <title><![CDATA[Integrating Intensive Competency-based AI Courses into Moodle – Challenges and Opportunities]]></title>
            <link>https://reference-global.com/article/10.2478/picbe-2026-0059</link>
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            <pubDate>Fri, 24 Jul 2026 00:00:00 GMT</pubDate>
            <description><![CDATA[Our study tackles a very specific problem – the lack of solid, well-structured AI training for university staff. We explored if Moodle could handle intensive, competitively heavy courses and not just a repository for teachers to upload files and students to download them. To test this, we built a three-step model – moving from basic, through intermediate to advanced, that focuses on the true “essence” of AI, namely Data Processing and Management (DPM), Machine Learning (ML), and Natural Language Processing (NLP).The whole idea was to move away from theory and toward a modular, hands-on design. We packed the courses with interactive elements and constant feedback loops, trying to keep up with how fast AI literacy needs are growing in higher education.While Moodle is often seen as a standard tool, we delved into its actual capabilities for this kind of high-pressure training. It’s not all perfect; we found some real perks in terms of scalability but also hit some walls regarding flexibility and collaborative work. To see if we were on the right track, we gathered feedback from the teachers who used the modules. What they told us was clear – they don’t just want AI basics – they need a good balance between theory and “how-to”, wrapped in an interactive format with enough of feedback.In the end, our findings show that Moodle works for intensive AI training, but only if you have the right instructional strategy to back it up. We believe this framework offers a practical, flexible starting point for any university looking to get serious about AI professional development.]]></description>
            <category>ARTICLE</category>
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        <item>
            <title><![CDATA[Integrating Crypto-Market Proxies as Financial Stability Drivers: A Random Forest Approach]]></title>
            <link>https://reference-global.com/article/10.2478/picbe-2026-0052</link>
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            <pubDate>Fri, 24 Jul 2026 00:00:00 GMT</pubDate>
            <description><![CDATA[This paper proposes a methodology of whether integrating cryptocurrency native proxies along with traditional macroeconomic indicators enhances the explanatory accuracy of financial stability modeling. The center objective of the study is evaluating the systemic risk impact of various crypto-market proxies on a constructed Financial Stability Index (FSI), by using a machine learning framework. We used a Random Forest algorithm to quantify economic stress across three distinct monetary policy regimes during the 2018-2024 window. Using this non-linear approach, we make sure that the proposed methodology captures complex transmission channels that linear econometric models might miss, allowing for a more efficient stress testing method of the cryptocurrencies ecosystem. We measure the in-sample explanatory power of financial stress using three model specifications, a Macro Baseline model (restricted to including only traditional financial indicators), a Full High-Dimensional crypto-integrated model (with the entire set of variables proposed), and an Integrated Parsimonious model consisting of the most relevant macro and crypto proxies which were derived through 5-fold cross-validated Recursive Feature Elimination (RFECV). The results indicate that the Parsimonious model outperforms the others, explaining 79.43% of FSI variance compared to 62.97% for the Macro Baseline and 75.64% for the High-Dimensional model. The feature importance analysis for the Parsimonious model identifies the 10-Year Treasury Yield and BTC-S&amp;P 500 correlation as the main non-linear amplifiers of financial instability, while the rest of the exogenous variables act as lower, but still significant, bidirectional coincident indicators. This research points to the fact that crypto-market proxies, specifically Bitcoin volatility and stablecoin depegging events are not merely speculative noise, but distinct, non-linear amplifiers of systemic risk, validating therefore the necessity of including alternative indicators for modern financial surveillance.]]></description>
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