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Embedding justice into climate policies through participatory approaches: prospects and pitfalls toward community-based adaptation pathways in Bologna, Italy

IF 6 1区经济学 Q1 URBAN STUDIES

Cities

Pub Date : 2025-04-20 DOI: 10.1016/j.cities.2025.105998

Cassandra Fontana , Andrea Testi , Giovanni Allegretti , Iacopo Zetti , Maddalena Rossi

Cities across the world are increasingly confronted with the consequences of climate change, requiring the urgent identification and implementation of climate mitigation and adaptation strategies. As these policies and interventions impact current social, spatial, and environmental configurations, the decision-making process is inherently characterised by conflicts of values and interests. This adds to the unequal distribution of burdens and risks that already concern the most vulnerable and excluded groups, raising questions about how planning processes dealing with environmental and climate issues can ensure equity and legitimacy. Drawing from post-political theory and agonistic planning perspectives, the paper is grounded in the assumption that procedural justice and democratic confrontation are essential to addressing the structural causes and uneven impacts of climate change. Using Bologna, Italy, as a case study, it explores the intersections between community-based climate adaptation and institution-led participatory processes to challenge the post-political condition of climate governance. The paper investigates the role of a specific category of urban commons, namely the Neighborhood Houses (Case di Quartiere), as potential arenas for re-politicising climate discourse. It explores how their widespread spatial distribution across the city and their embeddedness within complex governance configurations can promote the articulation of citizen-led demands, particularly those related to climate justice. Drawing on four years of research involving data collection, participant observation, and the co-design of a participatory initiative in Bologna, the paper offers a critical analysis of the opportunities and limitations that decentralised institutions face in fostering stronger linkages between community-based organisations and municipal authorities, ultimately contributing to a more just and democratic approach to climate policy.

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引用次数: 0

The effect of the COVID-19 pandemic on remittances in Guatemala: A causal impact analysis

IF 2.1 4区经济学 Q2 ECONOMICS

Economics Letters

Pub Date : 2025-04-20 DOI: 10.1016/j.econlet.2025.112351

Alexis R. Santos-Lozada , Ernesto R. Cuxil

Remittances constitute a major way in which migrants contribute to their family’s well-being and stability during their absence. Almost 2 million people of Guatemalan-origin reside in the United States, with remittances increasing since 2000. In this paper we use monthly data spanning 2002–2024 published by the Bank of Guatemala to examine whether remittances received deviated from expected levels after the onset of the COVID-19 pandemic. The counterfactual is produced considering past trends and variation with time series that remained relatively stable during the post-pandemic period. Using Bayesian Structural Time-Series modeling and inferential causal impact, we find that remittances exceeded what was expected based on a counterfactual built using foreign currency reserves. Since the onset of the COVID-19 pandemic, remittances to Guatemala increased between 23 % and 42 % resulting in an additional 20.17 billion dollars when compared to expected levels. Our analysis suggests that this shock continued having an effect in December 2024. This is likely due to the earlier normalization of economic activities in migrant-hosting countries, a possible increase in the adoption of formal remittance channels, and expectations of continued support after the normalization of economic activities.

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引用次数: 0

Is the transition to electric vehicles a crisis or an opportunity? The South Korean automotive industry experience 向电动汽车过渡是危机还是机遇？韩国汽车行业的经验

IF 2.9 3区经济学 Q1 ECONOMICS

Journal of Asian Economics

Pub Date : 2025-04-20 DOI: 10.1016/j.asieco.2025.101938

Seoyoung Lee , Hongbum Kim , Junseok Hwang

The global automotive industry is undergoing a transformative shift driven by electric vehicles (EVs), reshaping supply chain structures and industrial ecosystems. This study examines the evolution of Korea’s automotive supply chain from 2008 to 2021, focusing on changes in regional roles and network dynamics amidst the transition from internal combustion engine vehicles to EVs. The findings indicate that this transition has strengthened the robustness of Korea’s automobile industry by expanding and stabilizing supply chains, reorganizing traditional structures, and integrating new supply nodes. By applying the network positioning matrix, the study highlights the emergence of new regional clusters and the evolving roles of key supply chain actors. These insights emphasize the necessity of targeted industrial policies and long-term investment strategies at the national level to strengthen regional competitiveness in response to technological transformations.

引用次数: 0

Does nudging higher education students improve attendance and does it matter? A quasi-natural experiment

IF 1.3 4区经济学 Q3 ECONOMICS

International Review of Economics Education

Pub Date : 2025-04-19 DOI: 10.1016/j.iree.2025.100317

Carlos Cortinhas

The effects of student absenteeism on educational outcomes are well documented, with most studies showing a significant, negative effect on student performance. In recent years, a growing number of institutions have been using a variety of nudge interventions to help combat absenteeism, improve student performance, and reduce dropout rates. Although many studies report the success of many of these initiatives in terms of student performance and retention, others alert that nudging can also have significant negative effects on students. This paper examines the effectiveness of nudging undergraduate students to improve attendance and student performance in tutorial sessions. We conducted a quasi-natural experiment with more than 400 year two UK university students, randomly assigning them to either a treatment group receiving personalized email reminders after missing tutorials, or a control group without any nudging intervention. Our results show a large and significant positive effect of the nudging intervention on attendance rates. Furthermore, using a two-stage least squares estimation method, we established that improved tutorial attendance leads to better performance. Our findings advance the debate on the efficacy of nudges in higher education and offer some important insights for addressing student absenteeism at the university level.

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引用次数: 0

The spillover effects of green bond issuance in peer firms’ financial performance

IF 6.3 2区经济学 Q1 BUSINESS, FINANCE

Research in International Business and Finance

Pub Date : 2025-04-19 DOI: 10.1016/j.ribaf.2025.102895

Yang Deng , Zhaoqin Zhang

This paper investigates whether the issuance of green bonds generates institutional benefits that facilitate the coordinated development of businesses and the environment. By investigating listed companies in China, we document novel and robust evidence that the issuance of green bonds for the first time positively impacts the performance of peer firms in the same industry. We further reveal that the issuance of green bonds enhances peers' performance by increasing investor attention, promoting environmentally friendly behaviors, and alleviating financial constraints. Overall, our results highlight that the debut of industry green bonds is beneficial for peer firms in the corresponding industry and for green development.

引用次数: 0

Beyond borders: Asset price reaction to ESG incidents at home and abroad

IF 7.5 1区经济学 Q1 BUSINESS, FINANCE

International Review of Financial Analysis

Pub Date : 2025-04-19 DOI: 10.1016/j.irfa.2025.104246

Tomasz Orpiszewski, Mark Thompson

This study addresses the growing interest among investors and academics in understanding the asset price reaction to Environmental, Social, and Governance (ESG) incidents, particularly those occurring internationally. Despite extensive literature on ESG-related financial implications, the joint impact on stocks and corporate bonds, especially in relation to geographic, linguistic, and economic contexts of incidents, remains understudied. To bridge this gap, we apply an event-study methodology utilizing the Fama–French five-factor model for equities and matching portfolios based on credit ratings and durations for corporate bonds. Analyzing a global dataset of ESG incidents, we uncover several important insights. First, environmental incidents are generally associated with a downward movement in both stocks and corporate bonds. In Europe, governance-related news also triggers a pronounced negative reaction. Second, ESG incidents occurring within the home jurisdiction in the US and Europe often lead to a price increase or a milder drop, highlighting a differential market response based on geographical proximity. Third, we observe that incidents reported in non-English languages or occurring farther from the corporate headquarters tend to elicit stronger negative market reactions, especially when these incidents take place in developed countries within the Asia-Pacific region. Finally, incidents in wealthier countries with higher GDP per capita result in a greater price drop across all assets, whereas bond prices exhibit a smaller decline or even increase when incidents occur in developing countries. These findings underscore the nuanced ways in which geographical, linguistic, and economic factors shape market responses to global ESG events.

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引用次数: 0

AI competition and firm value: Evidence from DeepSeek’s disruption

IF 7.4 2区经济学 Q1 BUSINESS, FINANCE

Finance Research Letters

Pub Date : 2025-04-19 DOI: 10.1016/j.frl.2025.107447

Xing Yang

DeepSeek’s recent breakthrough has intensified the debate over global AI competition. Using real-time data from Yahoo Finance, I find strong evidence that U.S. AI firms respond positively to the release of the DeepSeek R1 model, contradicting media concerns that disruptive AI competition harms firm value. A heterogeneity analysis reveals that firms with fewer resources experience stronger initial gains but underperform their more resource-rich counterparts over longer event windows. Additionally, GPU providers faced negative market reactions, suggesting that cost-efficient AI models may reduce reliance on large-scale GPU infrastructure. This research provides timely insights into the evolving impact of AI competition on firm valuation and industry dynamics.

引用次数: 0

Fixed-point iterative algorithm for SVI model

IF 7.4 2区经济学 Q1 BUSINESS, FINANCE

Finance Research Letters

Pub Date : 2025-04-19 DOI: 10.1016/j.frl.2025.107378

Shuzhen Yang , Wenqing Zhang

The stochastic volatility inspired (SVI) model is widely used to fit the implied variance smile. Currently, most optimization algorithms for SVI models are strongly dependent on the input starting point. In this study, we develop an efficient iterative algorithm for the SVI model based on a fixed-point least-squares optimizer, further presenting the convergence results for this novel iterative algorithm under certain condition. The experimental evaluation results of our approach using market data demonstrate the advantages of the proposed fixed-point iterative algorithm over the Quasi-explicit SVI method.

引用次数: 0

The (micro) geography of collaborations and interactions in an urban context

IF 6 1区经济学 Q1 URBAN STUDIES

Cities

Pub Date : 2025-04-19 DOI: 10.1016/j.cities.2025.105996

Anthony Frigon , David Doloreux , Ekaterina Turkina

We examine the micro-geography of collaboration and interaction patterns in an urban context. More specifically, we investigate whether firms exhibit different collaboration and knowledge exchange patterns depending on their locations and their level of urban density. We explore this question using an original survey on R&D knowledge-intensive business services (R&D KIBS) in Montreal. The results reveal that R&D KIBS in Montreal predominantly collaborate with actors in close proximity, with the majority being located within 25 km. We also provide evidence that the propensity to collaborate with different actors and the intensity of interactions with direct collaborators is not directly associated with any intra-metropolitan patterns. Conversely, urban density is associated with other interactive forms of knowledge exchange, especially for smaller firms. This article contributes to an emerging literature that seeks to understand intra-metropolitan dynamics of knowledge exchange and innovation and how they unfold for heterogeneous actors.

引用次数: 0

Cultural Integration of the Built Environment -the case of displaced Pakistanis on the outskirts of Tehran

IF 6.5 1区经济学 Q1 DEVELOPMENT STUDIES

Habitat International

Pub Date : 2025-04-19 DOI: 10.1016/j.habitatint.2025.103407

Taban Mossavi , Mahmood Fayazi , Zoheir Mottaki

Amid an unprecedented rise in global displacement, over 122 million individuals now face the challenge of adapting to unfamiliar cultural and living environments. Despite separate studies on post-displacement acculturation and the built environment, their intersection remains largely neglected. This study used grounded theory ethnography over three years to investigate a displaced Pakistani community near Tehran, their Iranian hosts and their respective dwellings, and the behaviors they harbor. Based on the findings, a model was developed to study post-displacement cultural integration of the built environment. The study explores acculturation outcomes in the built environment—integration, separation, and assimilation—shaped by internal cultural shifts and external factors like surroundings, legalities, and social context. The Pakistani population in particular, exhibited minimal cultural change, influencing their spatial organization and behavior settings. Furthermore, this model can assist practitioners and academics in addressing displaced population's built environment.

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引用次数: 0

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