Enterprise risks are objective,measurable and uncertain,and can always cause damagesThe risks can be identified as the factors from both inside and outside of the enterprisesRisks should be assessed in terms of possibilities,levels and extent of impactBased on risks assessment results,enterprises should choose the right responses and strengthen activity control and risk monitoring

On the Enterprise Risk Management

The objective of this research is to examine the role of economic growth, technology innovation, and renewable energy in reducing transport sector CO2 emission in China by using the annual data of 1990–2018. An application of the QARDL approach discloses that economic growth, technology innovation, and renewable energy significantly influence CO2 emission in the transportation sector in China. Both renewable energy consumption and innovation show a negative impact on emissions of CO2 related to transport. It depicts that due to the increase in renewable energy and innovation, the CO2 emission in the transport sector is likely to decrease; however, an increase in the GDP of a country will upsurge the emission of CO2 in the transportation sector. However, China should make new policies to introduce innovation in the transportation sector to minimize the emission of CO2.

Investigate the role of technology innovation and renewable energy in reducing transport sector CO2 emission in China: A path toward sustainable development

Risk Management, Capital Budgeting, and Capital Structure Policy for Financial Institutions: An Integrated Approach

What abates ecological footprint in BRICS-T region? Exploring the influence of renewable energy, non-renewable energy, agriculture, forest area and financial development

Renewable energy consumption and economic growth in OECD countries: A nonlinear panel data analysis

The effect of financial development on renewable energy consumption. A panel data approach

The accelerated development of information and communication technology (ICT) over the past two decades has encouraged an increasing number of researchers to examine and measure the impact of this technology on economic growth. Our study aims to identify and evaluate the effect of using ICT infrastructure on economic growth in European Union (EU) countries for a period of 18 years (2000–2017). Using panel-data estimation techniques, we investigate empirically how various indicators of ICT infrastructure affect economic growth, proxied in our study by GDP per capita. Within the estimates, we have included some macroeconomic control variables. Our results indicate a positive and strongly effect of using ICT infrastructure on economic growth in the EU member states, but the magnitude of the effect differs depending on the type of technology examined. Regarding the impact of macroeconomic factors, our estimates indicate that inflation rate, unemployment rate, the degree of trade openness, government expenditures, and foreign direct investments would significantly affect GDP per capita at EU level. The findings are broadly similar to the theoretical predictions, but also to the findings of some relevant empirical studies. Our research reveals that ICT infrastructure, along with other macroeconomic factors, is an important driver of economic growth in EU countries.

https://www.mdpi.com/2071-1050/10/10/3750/pdf

Impact of Information and Communication Technology Infrastructure on Economic Growth: An Empirical Assessment for the EU Countries

Enterprise risk management (ERM) represents a significant change in the way firms manage risks. In the last years an increasing number of non-financial firms from emerging economies started to implement a holistic framework for risk management. The aim of the paper is to investigate the effects of ERM implementation on the firm value in different economic environments. Using a sample of Romanian listed firms for the pre-crisis period (2001-2007), we found that ERM adoption is associated with higher firm values, indicated by a Tobin’s Q premium of roughly 46.5%. We also found a positive and statistically significant relationship between size, leverage, on one hand, and firm value, on the other hand. Extending our sample over the financial crisis period (2001-2011), we found that ERM does not affect firm value in any significant manner. Our results lend support for the recent pressure on firms to adopt more integrated and comprehensive risk management systems.DOI: http://dx.doi.org/10.5755/j01.ee.29.2.16426

/pdf/the-impact-of-enterprise-risk-management-on-firm-value-41ge87mkwi.pdf

The Impact of Enterprise Risk Management on Firm Value: Empirical Evidence from Romanian Non-financial Firms

Despite the importance of high-growth firms (HGFs) for job creation, innovation, and economic development in transition economies, current knowledge on the role of financial decisions in explaining their profitability is limited. The aim of this paper is to examine the relationship between working capital management and firm profitability. Using a panel data set on HGFs from Central, Eastern, and South-Eastern Europe during the time span 2006–2015, we found an inverted U-shape relationship between working capital level and firm profitability. Our findings indicate that HGFs should find and maintain the optimal working capital level that maximizes their profitability. Our results proved to be robust when we employ different methodology (quantile regression), different sub-samples as well as alternative measures of profitability and working capital management. The study highlights the importance of short-term financial decisions in enhancing HGFs’ profitability, with significant implications for academics and practitioners. We contribute to the extant literature by providing empirical evidence on the existence a concave relationship between working capital level and firm profitability for a cross-country sample of firms.

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Is profitability driven by working capital management? Evidence for high-growth firms from emerging Europe

The aim of the paper is to assess the impact of leverage on gazelles’ performance while controlling for firm characteristics, macroeconomic environment, and characteristics of domestic banking sectors. Using a sample of 1105 gazelles from Central, Eastern, and South-Eastern European (CESEE) countries for the period 2006–2014, we find that leverage negatively affects firm growth. The results prove to be robust regarding the use of different estimation approaches, alternatives variables for firm growth, and different sub-samples. Our results suggest that improving access to various sources and types of financing represents a key issue for supporting gazelles’ growth. We also find that macroeconomic environment and banking sector characteristics are important determinants of gazelles’ growth. The economic growth positively influences sales and total assets growth, while the effect of financial and economic development varied with the firm growth measure used. Our findings provide empirical evidence for the need of policy initiatives at national and European Union level to facilitate the growth of small businesses.

Sorin Gabriel Anton

Papers

The effect of financial development on renewable energy consumption. A panel data approach

Impact of Information and Communication Technology Infrastructure on Economic Growth: An Empirical Assessment for the EU Countries

The Impact of Enterprise Risk Management on Firm Value: Empirical Evidence from Romanian Non-financial Firms

Is profitability driven by working capital management? Evidence for high-growth firms from emerging Europe

Leverage and firm growth: an empirical investigation of gazelles from emerging Europe