Pub Date : 2023-08-28DOI: 10.1108/ijesm-05-2023-0017
Alice Arinaitwe, Vincent Bagire, Benjamin R. Tukamuhabwa, Tumwine Sulait
Purpose The purpose of this paper is to examine the relationship between top management commitment and energy management in small and medium manufacturing firms in a developing country context. Design/methodology/approach This study was executed through a survey of 66 manufacturing firms in Kampala, Uganda. The data collected were analysed using SPSS v.26. Findings The results show that top management commitment influences energy management. A further probe of its three dimensions of top management participation, top management support and top management beliefs reveals that all of them positively and significantly predict energy management in manufacturing firms. Research limitations/implications The current study results were obtained from manufacturing small and medium firms in Kampala, Uganda. Therefore, caution should be taken prior to generalization. Furthermore, this study only focuses on top management participation, top management support and top management beliefs as the dimensions of top management commitment. This study thus provides the foundation for future studies to test other dimensions of top management commitment, particularly in other sectors. Originality/value To the best of the authors’ knowledge, this is the first study to examine the contribution of top management commitment dimensions top management participation, top management support and top management beliefs to energy management in a developing country context. Although all dimensions are significant, top management beliefs contribute more to energy management.
{"title":"Energy management in small and medium manufacturing firms: examining the enhancing role of top management commitment in a developing country context","authors":"Alice Arinaitwe, Vincent Bagire, Benjamin R. Tukamuhabwa, Tumwine Sulait","doi":"10.1108/ijesm-05-2023-0017","DOIUrl":"https://doi.org/10.1108/ijesm-05-2023-0017","url":null,"abstract":"\u0000Purpose\u0000The purpose of this paper is to examine the relationship between top management commitment and energy management in small and medium manufacturing firms in a developing country context.\u0000\u0000\u0000Design/methodology/approach\u0000This study was executed through a survey of 66 manufacturing firms in Kampala, Uganda. The data collected were analysed using SPSS v.26.\u0000\u0000\u0000Findings\u0000The results show that top management commitment influences energy management. A further probe of its three dimensions of top management participation, top management support and top management beliefs reveals that all of them positively and significantly predict energy management in manufacturing firms.\u0000\u0000\u0000Research limitations/implications\u0000The current study results were obtained from manufacturing small and medium firms in Kampala, Uganda. Therefore, caution should be taken prior to generalization. Furthermore, this study only focuses on top management participation, top management support and top management beliefs as the dimensions of top management commitment. This study thus provides the foundation for future studies to test other dimensions of top management commitment, particularly in other sectors.\u0000\u0000\u0000Originality/value\u0000To the best of the authors’ knowledge, this is the first study to examine the contribution of top management commitment dimensions top management participation, top management support and top management beliefs to energy management in a developing country context. Although all dimensions are significant, top management beliefs contribute more to energy management.\u0000","PeriodicalId":46430,"journal":{"name":"International Journal of Energy Sector Management","volume":" ","pages":""},"PeriodicalIF":3.1,"publicationDate":"2023-08-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"41598650","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-08-25DOI: 10.1108/ijesm-05-2023-0033
Kuldeep Singh, Megha Jaiwani
Purpose The global energy sector draws significant stakeholder attention due to never-ending controversies surrounding its environmental impacts. Investors’ response to such controversies causes direct financial implications for these firms. Furthermore, environmental, social and governance (ESG) sensitivity, which is likely to safeguard the energy sector firms from such controversies, is itself conditional to the development stage of a country and its regulatory environment. Therefore, this study aims to investigate if the influence of ESG on the share price volatility (SPV) of energy sector firms is subject to the development stage of the countries. Design/methodology/approach The study investigates nine years of panel data of 93 global energy sector firms from developing and developed nations. Using dynamic two-way fixed effects estimation and computing robust standard errors to obtain the econometric results. Findings The main finding reveals that the impact of ESG on SPV is, indeed, subject to the development stage of the nations. Similar results are observed for the effects of the social dimension of ESG on SPV. While ESG impacts the SPV negatively for firms in developing economies, the impact is the opposite for firms in developed nations. In other words, strong ESG propositions induce share price stability for developing countries while destabilizing the firms in developed nations. Practical implications The policymakers should further streamline the regulations and policies related to ESG adoption and adherence. In practice, the energy sectors should streamline their operations. Firm managers, especially in the energy sector, should devise strategies with ESG as an essential component to safeguard their firms against environmental and market volatility and adversatives. The firms in developing nations should further strengthen their social dimension of ESG to foster social equity and harmony. Originality/value The study contributes through its niche investigations on the energy sector, which is very important for the world economy. The study is relevant in the current scenario when the world faces a severe energy crisis due to global supply chain issues.
{"title":"ESG and share price volatility in energy sector firms: does the development phase of countries matter?","authors":"Kuldeep Singh, Megha Jaiwani","doi":"10.1108/ijesm-05-2023-0033","DOIUrl":"https://doi.org/10.1108/ijesm-05-2023-0033","url":null,"abstract":"\u0000Purpose\u0000The global energy sector draws significant stakeholder attention due to never-ending controversies surrounding its environmental impacts. Investors’ response to such controversies causes direct financial implications for these firms. Furthermore, environmental, social and governance (ESG) sensitivity, which is likely to safeguard the energy sector firms from such controversies, is itself conditional to the development stage of a country and its regulatory environment. Therefore, this study aims to investigate if the influence of ESG on the share price volatility (SPV) of energy sector firms is subject to the development stage of the countries.\u0000\u0000\u0000Design/methodology/approach\u0000The study investigates nine years of panel data of 93 global energy sector firms from developing and developed nations. Using dynamic two-way fixed effects estimation and computing robust standard errors to obtain the econometric results.\u0000\u0000\u0000Findings\u0000The main finding reveals that the impact of ESG on SPV is, indeed, subject to the development stage of the nations. Similar results are observed for the effects of the social dimension of ESG on SPV. While ESG impacts the SPV negatively for firms in developing economies, the impact is the opposite for firms in developed nations. In other words, strong ESG propositions induce share price stability for developing countries while destabilizing the firms in developed nations.\u0000\u0000\u0000Practical implications\u0000The policymakers should further streamline the regulations and policies related to ESG adoption and adherence. In practice, the energy sectors should streamline their operations. Firm managers, especially in the energy sector, should devise strategies with ESG as an essential component to safeguard their firms against environmental and market volatility and adversatives. The firms in developing nations should further strengthen their social dimension of ESG to foster social equity and harmony.\u0000\u0000\u0000Originality/value\u0000The study contributes through its niche investigations on the energy sector, which is very important for the world economy. The study is relevant in the current scenario when the world faces a severe energy crisis due to global supply chain issues.\u0000","PeriodicalId":46430,"journal":{"name":"International Journal of Energy Sector Management","volume":" ","pages":""},"PeriodicalIF":3.1,"publicationDate":"2023-08-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46408324","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-08-24DOI: 10.1108/ijesm-05-2023-0027
G. Olasehinde-Williams, I. Olanipekun, O. Usman
Purpose This paper aims to examine the reaction of energy inflation to geopolitical risks in the European Economic Area between 1990 and 2015. Design/methodology/approach This study applies the nonparametric time-varying coefficient panel data model with fixed effects. In addition, to further reveal potential tail effects that may not have been captured by conditional mean-based regressions, the method of moments quantile regression was also used. Findings The findings of this study are as follows: first, as European countries get exposed to geopolitical tensions, it is expected that energy prices will surge. Second, the ability of geopolitical risk to trigger energy inflation in recent times is not as powerful as it used to be. Third, countries with a lower inflation rate, when exposed to geopolitical risks, experience smaller increases in energy inflation compared to countries with a higher inflation rate. Research limitations/implications The findings of this study lead us to the conclusion that transitioning from nonrenewable to renewable energy use is one channel through which the sampled countries can battle the energy inflation, which geopolitical risks trigger. A sound macroeconomic policy for inflation control is a complementary channel through which the same goal can be achieved. Originality/value Given the increasing level of energy inflation and geopolitical risks in the world today, this study is an attempt to reveal the time-varying characteristics of the relationship between these variables in European countries using a nonparametric time-varying coefficient panel data model and method of moments quantile regression with fixed effects.
{"title":"Does geopolitics trigger energy inflation in the European economic area? Evidence from a panel time-varying regression","authors":"G. Olasehinde-Williams, I. Olanipekun, O. Usman","doi":"10.1108/ijesm-05-2023-0027","DOIUrl":"https://doi.org/10.1108/ijesm-05-2023-0027","url":null,"abstract":"\u0000Purpose\u0000This paper aims to examine the reaction of energy inflation to geopolitical risks in the European Economic Area between 1990 and 2015.\u0000\u0000\u0000Design/methodology/approach\u0000This study applies the nonparametric time-varying coefficient panel data model with fixed effects. In addition, to further reveal potential tail effects that may not have been captured by conditional mean-based regressions, the method of moments quantile regression was also used.\u0000\u0000\u0000Findings\u0000The findings of this study are as follows: first, as European countries get exposed to geopolitical tensions, it is expected that energy prices will surge. Second, the ability of geopolitical risk to trigger energy inflation in recent times is not as powerful as it used to be. Third, countries with a lower inflation rate, when exposed to geopolitical risks, experience smaller increases in energy inflation compared to countries with a higher inflation rate.\u0000\u0000\u0000Research limitations/implications\u0000The findings of this study lead us to the conclusion that transitioning from nonrenewable to renewable energy use is one channel through which the sampled countries can battle the energy inflation, which geopolitical risks trigger. A sound macroeconomic policy for inflation control is a complementary channel through which the same goal can be achieved.\u0000\u0000\u0000Originality/value\u0000Given the increasing level of energy inflation and geopolitical risks in the world today, this study is an attempt to reveal the time-varying characteristics of the relationship between these variables in European countries using a nonparametric time-varying coefficient panel data model and method of moments quantile regression with fixed effects.\u0000","PeriodicalId":46430,"journal":{"name":"International Journal of Energy Sector Management","volume":" ","pages":""},"PeriodicalIF":3.1,"publicationDate":"2023-08-24","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43873547","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-08-22DOI: 10.1108/ijesm-06-2023-0006
Yiru Zha, Jiawei Jin
Purpose This study aims to investigate how environmentalism in photovoltaic (PV) substitution and nationalism in PV rivalry with the USA are associated with the trade-offs made by young consumers in Lanzhou when selecting Chinese brand portable solar power banks. Design/methodology/approach In this study, the choice-based conjoint survey was conducted to investigate mobile power bank consumers aged 18–28 in Lanzhou urban districts. A total of 2,004 valid questionnaires were collected and 1,813 sample was used in analyses. Logit and ordinary least squares regression models were run for empirical analyses. Findings The research results show that consumers tend to sacrifice certain levels of affordability for moderate technological capability, a reputable brand, better portability and advanced charging functions or sacrifice certain levels of technological capabilities for a moderate price. Consumers with stronger environmentalism in PV substitution tend to prioritize median price levels, larger battery capacity and better portability, while being less sensitive to brand and showing less preference for advanced charging functions. Consumers with stronger nationalism in PV rivalry tend to prioritize reasonably higher prices, bigger brands, enhanced portability, more solar panels and advanced charging functions. Practical implications This research sheds light on consumer trade-offs between price, brand, portability, technological capability and charging function. It also explores how environmentalism and nationalism sentiments are associated with consumer decision-making. These insights carry valuable policy implications for fostering product innovation, supporting brand-building initiatives for small and medium-size enterprises, promoting market competition and preventing the weaponization of consumer nationalism. Originality/value As an emerging solar power product, the portable solar power bank holds significant potential for widespread adoption as a means to drive energy transition. Within the current context, two notable sentiments have surfaced: environmentalism, which pertains to the adoption of PV technology as a substitute for conventional energy sources and nationalism, which manifests in the PV rivalry between China and the USA. This research aims to investigate consumer preference related to this emerging product, specifically focusing on its relationship with these two sentiments.
{"title":"Environmentalism in photovoltaics substitution, nationalism in photovoltaics rivalry and youth’s choice of solar power banks in Lanzhou","authors":"Yiru Zha, Jiawei Jin","doi":"10.1108/ijesm-06-2023-0006","DOIUrl":"https://doi.org/10.1108/ijesm-06-2023-0006","url":null,"abstract":"\u0000Purpose\u0000This study aims to investigate how environmentalism in photovoltaic (PV) substitution and nationalism in PV rivalry with the USA are associated with the trade-offs made by young consumers in Lanzhou when selecting Chinese brand portable solar power banks.\u0000\u0000\u0000Design/methodology/approach\u0000In this study, the choice-based conjoint survey was conducted to investigate mobile power bank consumers aged 18–28 in Lanzhou urban districts. A total of 2,004 valid questionnaires were collected and 1,813 sample was used in analyses. Logit and ordinary least squares regression models were run for empirical analyses.\u0000\u0000\u0000Findings\u0000The research results show that consumers tend to sacrifice certain levels of affordability for moderate technological capability, a reputable brand, better portability and advanced charging functions or sacrifice certain levels of technological capabilities for a moderate price. Consumers with stronger environmentalism in PV substitution tend to prioritize median price levels, larger battery capacity and better portability, while being less sensitive to brand and showing less preference for advanced charging functions. Consumers with stronger nationalism in PV rivalry tend to prioritize reasonably higher prices, bigger brands, enhanced portability, more solar panels and advanced charging functions.\u0000\u0000\u0000Practical implications\u0000This research sheds light on consumer trade-offs between price, brand, portability, technological capability and charging function. It also explores how environmentalism and nationalism sentiments are associated with consumer decision-making. These insights carry valuable policy implications for fostering product innovation, supporting brand-building initiatives for small and medium-size enterprises, promoting market competition and preventing the weaponization of consumer nationalism.\u0000\u0000\u0000Originality/value\u0000As an emerging solar power product, the portable solar power bank holds significant potential for widespread adoption as a means to drive energy transition. Within the current context, two notable sentiments have surfaced: environmentalism, which pertains to the adoption of PV technology as a substitute for conventional energy sources and nationalism, which manifests in the PV rivalry between China and the USA. This research aims to investigate consumer preference related to this emerging product, specifically focusing on its relationship with these two sentiments.\u0000","PeriodicalId":46430,"journal":{"name":"International Journal of Energy Sector Management","volume":"1 1","pages":""},"PeriodicalIF":3.1,"publicationDate":"2023-08-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"62672398","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-08-14DOI: 10.1108/ijesm-01-2023-0022
A. Ekram, H. Elmesmary, A. Sakr
Purpose Oil and gas sector has more disruptions regarding its logistics management than any other industry. It is critical to understand which external security threats disrupt the oil and gas supply chain (OGSC). Recently, the time interval between these disruptions became frequent. the purpose of this paper is to identify key logistics elements that lead to such disruptions which would greatly benefit the oil and gas industry in developing more effective mitigation measures and resilient practices in the future. Design/methodology/approach This research develops the theoretical framework through a critical review of all theories related to resilience, logistics disruptions and mitigation methods in the oil and gas industry. Afterward, semi-structured interviews were conducted with executives in the Egyptian oil and gas industry to develop a conceptual framework. Finally, an empirical study was conducted through questionnaires with managers in the Egyptian oil and gas sector to develop the applied framework. Findings This research revealed that achieving an elevated level of flexibility, redundancy, visibility and collaboration in the Egyptian OGSC will significantly increase the level of resilience in the sector and consequently help in mitigating probable logistics disruptions. Practical implications This research contributes to academia by providing a conceptual framework for the most common logistics disruptions in the Egyptian OGSC and providing practitioners with the best resilience practices that are feasible and effective in mitigating logistics disruptions. Originality/value Previous research studied disruptions in OGSC from different perspectives: economic, social, political, technical, safety, legal and environmental perspectives, but no research highlighted the logistics perspective in the Egyptian context, to the best of the authors’ knowledge.
{"title":"Developing a framework to achieve resilience in the oil and gas supply chain during logistics disruptions: an empirical study","authors":"A. Ekram, H. Elmesmary, A. Sakr","doi":"10.1108/ijesm-01-2023-0022","DOIUrl":"https://doi.org/10.1108/ijesm-01-2023-0022","url":null,"abstract":"\u0000Purpose\u0000Oil and gas sector has more disruptions regarding its logistics management than any other industry. It is critical to understand which external security threats disrupt the oil and gas supply chain (OGSC). Recently, the time interval between these disruptions became frequent. the purpose of this paper is to identify key logistics elements that lead to such disruptions which would greatly benefit the oil and gas industry in developing more effective mitigation measures and resilient practices in the future.\u0000\u0000\u0000Design/methodology/approach\u0000This research develops the theoretical framework through a critical review of all theories related to resilience, logistics disruptions and mitigation methods in the oil and gas industry. Afterward, semi-structured interviews were conducted with executives in the Egyptian oil and gas industry to develop a conceptual framework. Finally, an empirical study was conducted through questionnaires with managers in the Egyptian oil and gas sector to develop the applied framework.\u0000\u0000\u0000Findings\u0000This research revealed that achieving an elevated level of flexibility, redundancy, visibility and collaboration in the Egyptian OGSC will significantly increase the level of resilience in the sector and consequently help in mitigating probable logistics disruptions.\u0000\u0000\u0000Practical implications\u0000This research contributes to academia by providing a conceptual framework for the most common logistics disruptions in the Egyptian OGSC and providing practitioners with the best resilience practices that are feasible and effective in mitigating logistics disruptions.\u0000\u0000\u0000Originality/value\u0000Previous research studied disruptions in OGSC from different perspectives: economic, social, political, technical, safety, legal and environmental perspectives, but no research highlighted the logistics perspective in the Egyptian context, to the best of the authors’ knowledge.\u0000","PeriodicalId":46430,"journal":{"name":"International Journal of Energy Sector Management","volume":"1 1","pages":""},"PeriodicalIF":3.1,"publicationDate":"2023-08-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"62669356","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-07-26DOI: 10.1108/ijesm-01-2023-0014
Demet Beton Kalmaz, T. Adebayo
Purpose This paper aims to assess the moderating role of foreign direct investment (FDI) on the effect of economic complexity on carbon emissions, considering other drivers of carbon emissions such as renewable energy use and economic growth, using data set spanning between 1990 and 2018 in BRICS nations. Design/methodology/approach This research aims to fill the gap in ongoing literature. Cross-sectional IPS and cross-sectional augmented Dickey–Fuller tests, fully modified ordinary least square, dynamic ordinary least square, fixed effect ordinary least square, Westerlund cointegration and method of moments quantile regression (MMQR) econometric approaches are applied. Findings The Westerlund cointegration outcomes disclosed long-run interconnectedness between carbon emissions and its drivers. Furthermore, MMQR outcomes disclosed that in each tail (0.1–0.90), economic growth and economic complexity contribute to upsurge in carbon emissions while in each quantile (0.1–0.90) renewable energy abate carbon emissions. Furthermore, we affirmed the pollution-haven and environmental Kuznets curve hypotheses across all quantiles (0.1–0.90). Finally, at all quantiles (0.1–0.90), the joint effect of both FDI inflows and economic complexity reduced carbon emissions. Furthermore, the panel causality outcomes disclosed that all the exogenous variables can predict carbon emissions. Based on the findings, BRICS nation’s policymakers should place a greater emphasis on FDI inflows because it aids in abating environmental degradation. Originality/value To the best of the authors’ knowledge, this is the first research to test the moderating role of FDI on the effect of economic complexity on carbon emissions. Hence, this research aims to fill the gap in ongoing literature.
{"title":"Does foreign direct investment moderate the effect of economic complexity on carbon emissions? Evidence from BRICS nations","authors":"Demet Beton Kalmaz, T. Adebayo","doi":"10.1108/ijesm-01-2023-0014","DOIUrl":"https://doi.org/10.1108/ijesm-01-2023-0014","url":null,"abstract":"\u0000Purpose\u0000This paper aims to assess the moderating role of foreign direct investment (FDI) on the effect of economic complexity on carbon emissions, considering other drivers of carbon emissions such as renewable energy use and economic growth, using data set spanning between 1990 and 2018 in BRICS nations.\u0000\u0000\u0000Design/methodology/approach\u0000This research aims to fill the gap in ongoing literature. Cross-sectional IPS and cross-sectional augmented Dickey–Fuller tests, fully modified ordinary least square, dynamic ordinary least square, fixed effect ordinary least square, Westerlund cointegration and method of moments quantile regression (MMQR) econometric approaches are applied.\u0000\u0000\u0000Findings\u0000The Westerlund cointegration outcomes disclosed long-run interconnectedness between carbon emissions and its drivers. Furthermore, MMQR outcomes disclosed that in each tail (0.1–0.90), economic growth and economic complexity contribute to upsurge in carbon emissions while in each quantile (0.1–0.90) renewable energy abate carbon emissions. Furthermore, we affirmed the pollution-haven and environmental Kuznets curve hypotheses across all quantiles (0.1–0.90). Finally, at all quantiles (0.1–0.90), the joint effect of both FDI inflows and economic complexity reduced carbon emissions. Furthermore, the panel causality outcomes disclosed that all the exogenous variables can predict carbon emissions. Based on the findings, BRICS nation’s policymakers should place a greater emphasis on FDI inflows because it aids in abating environmental degradation.\u0000\u0000\u0000Originality/value\u0000To the best of the authors’ knowledge, this is the first research to test the moderating role of FDI on the effect of economic complexity on carbon emissions. Hence, this research aims to fill the gap in ongoing literature.\u0000","PeriodicalId":46430,"journal":{"name":"International Journal of Energy Sector Management","volume":" ","pages":""},"PeriodicalIF":3.1,"publicationDate":"2023-07-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46842493","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-07-24DOI: 10.1108/ijesm-01-2023-0012
G. Makridou, Michalis Doumpos, C. Lemonakis
Purpose Considering environmental, social and governance (ESG) factors is vital in climate change mitigation. Energy companies must incorporate ESG into their business plans, although it unquestionably affects their corporate financial performance (CFP). This paper aims to investigate the effect of ESG on energy companies’ profitability through return on assets by analysing the combined score and individual dimensions of ESG. Design/methodology/approach The study examined a panel data sample of 911 firm-year observations for 85 European energy-sector companies during 1995–2020. Two distinct modelling specifications were applied to explore the impact of ESG components on the CFP of EU energy companies. The financial data and ESG scores were obtained from the Thomson Reuters Eikon database in July 2021. Findings The empirical findings revealed that energy companies’ profitability is marginally and negatively affected by their ESG performance. Whereas independent evaluation of the ESG subcomponents indicated that environmental responsibility has a significant negative effect. In contrast, corporate social and governance responsibilities are positively but not significantly associated with the company’s CFP. Originality/value This study fills a research gap in the ESG–CFP literature in the European energy sector, a pioneer in sustainable development. To the best of the authors’ knowledge, this study’s originality lies in its analysis of ESG factors’ role in profitability by considering different EU countries and energy sectors.
{"title":"Relationship between ESG and corporate financial performance in the energy sector: empirical evidence from European companies","authors":"G. Makridou, Michalis Doumpos, C. Lemonakis","doi":"10.1108/ijesm-01-2023-0012","DOIUrl":"https://doi.org/10.1108/ijesm-01-2023-0012","url":null,"abstract":"\u0000Purpose\u0000Considering environmental, social and governance (ESG) factors is vital in climate change mitigation. Energy companies must incorporate ESG into their business plans, although it unquestionably affects their corporate financial performance (CFP). This paper aims to investigate the effect of ESG on energy companies’ profitability through return on assets by analysing the combined score and individual dimensions of ESG.\u0000\u0000\u0000Design/methodology/approach\u0000The study examined a panel data sample of 911 firm-year observations for 85 European energy-sector companies during 1995–2020. Two distinct modelling specifications were applied to explore the impact of ESG components on the CFP of EU energy companies. The financial data and ESG scores were obtained from the Thomson Reuters Eikon database in July 2021.\u0000\u0000\u0000Findings\u0000The empirical findings revealed that energy companies’ profitability is marginally and negatively affected by their ESG performance. Whereas independent evaluation of the ESG subcomponents indicated that environmental responsibility has a significant negative effect. In contrast, corporate social and governance responsibilities are positively but not significantly associated with the company’s CFP.\u0000\u0000\u0000Originality/value\u0000This study fills a research gap in the ESG–CFP literature in the European energy sector, a pioneer in sustainable development. To the best of the authors’ knowledge, this study’s originality lies in its analysis of ESG factors’ role in profitability by considering different EU countries and energy sectors.\u0000","PeriodicalId":46430,"journal":{"name":"International Journal of Energy Sector Management","volume":"1 1","pages":""},"PeriodicalIF":3.1,"publicationDate":"2023-07-24","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"41477155","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-07-18DOI: 10.1108/ijesm-04-2023-0010
Nimesh P. Bhojak, A. Modi, M. Momin
Purpose This study aims to investigate the impact of service quality, as measured by the SERVQUAL model with extended variables of safety awareness and energy conservation, on consumer satisfaction. It also explores the mediating effect of energy conservation and the moderating effect of consumer residence of electricity on this relationship. Design/methodology/approach The study uses a quantitative research approach, with data collected from 1,004 respondents through a questionnaire from the household consumers of UGVCL. The survey measures service quality using the SERVQUAL model with the additional variables of safety awareness and energy conservation. The data is analyzed using structural equation modeling, mediation and moderation to test the proposed hypotheses. Findings The results show that service quality, safety awareness and energy conservation all have a positive impact on consumer satisfaction expect responsiveness. Energy conservation also mediates the relationship between service quality and satisfaction, indicating that when consumers perceive higher service quality, they are more likely to conserve energy and thereby increase their satisfaction. Additionally, the moderating effect of consumer residence of electricity shows that the impact of service quality and safety awareness on satisfaction is stronger for consumers living in areas with higher electricity rates. Originality/value The paper lies in its investigation of the impact of service quality on consumer satisfaction using the SERVQUAL model, with the inclusion of two additional variables, safety awareness and energy conservation. Furthermore, this study examines the mediating effect of energy conservation and the moderating effect of consumer residence of electricity on the relationship between service quality and consumer satisfaction. To the best of our knowledge, this is the first study to incorporate these variables in examining the relationship between service quality and consumer satisfaction in the context of energy services. Therefore, this study offers a novel contribution to the existing literature on service quality and consumer satisfaction.
{"title":"SERVQUAL model with extended variables of safety awareness and energy conservation: impact on consumer satisfaction with mediating and moderating effect","authors":"Nimesh P. Bhojak, A. Modi, M. Momin","doi":"10.1108/ijesm-04-2023-0010","DOIUrl":"https://doi.org/10.1108/ijesm-04-2023-0010","url":null,"abstract":"\u0000Purpose\u0000This study aims to investigate the impact of service quality, as measured by the SERVQUAL model with extended variables of safety awareness and energy conservation, on consumer satisfaction. It also explores the mediating effect of energy conservation and the moderating effect of consumer residence of electricity on this relationship.\u0000\u0000\u0000Design/methodology/approach\u0000The study uses a quantitative research approach, with data collected from 1,004 respondents through a questionnaire from the household consumers of UGVCL. The survey measures service quality using the SERVQUAL model with the additional variables of safety awareness and energy conservation. The data is analyzed using structural equation modeling, mediation and moderation to test the proposed hypotheses.\u0000\u0000\u0000Findings\u0000The results show that service quality, safety awareness and energy conservation all have a positive impact on consumer satisfaction expect responsiveness. Energy conservation also mediates the relationship between service quality and satisfaction, indicating that when consumers perceive higher service quality, they are more likely to conserve energy and thereby increase their satisfaction. Additionally, the moderating effect of consumer residence of electricity shows that the impact of service quality and safety awareness on satisfaction is stronger for consumers living in areas with higher electricity rates.\u0000\u0000\u0000Originality/value\u0000The paper lies in its investigation of the impact of service quality on consumer satisfaction using the SERVQUAL model, with the inclusion of two additional variables, safety awareness and energy conservation. Furthermore, this study examines the mediating effect of energy conservation and the moderating effect of consumer residence of electricity on the relationship between service quality and consumer satisfaction. To the best of our knowledge, this is the first study to incorporate these variables in examining the relationship between service quality and consumer satisfaction in the context of energy services. Therefore, this study offers a novel contribution to the existing literature on service quality and consumer satisfaction.\u0000","PeriodicalId":46430,"journal":{"name":"International Journal of Energy Sector Management","volume":"1 1","pages":""},"PeriodicalIF":3.1,"publicationDate":"2023-07-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"62671631","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-07-13DOI: 10.1108/ijesm-03-2023-0017
A. Koç, Serap Ulusam Seçkiner
Purpose This study aims to investigate environmental efficiency based on energy change by using energy-related or nonenergy-related variables by reckoning with months and years as decision-making units (DMUs) for a hospital under radial and nonradial models. Design/methodology/approach The non-oriented slack-based measures (SBM)-data envelopment analysis (DEA) model considering desirable and undesirable outputs has been embraced in this study, where its obtained results were compared with the results of other DEA models are output-oriented SBM-DEA and Banker, Charnes, & Cooper-DEA. For this purpose, this research has used a data set covering the 2012–2018 period for a reference hospital, which includes energy-related and nonenergy-related variables. Findings The results demonstrate that environmental efficiency based on energy reached the highest level in the winter months, whereas the summer months have the lowest efficiency values arising from the increasing electricity consumption due to high cooling needs. According to results of the non-oriented SBM model, the month with the highest efficiency in all periods is January with a 0.936 average efficiency score, the lowest month is August with a 0.406 value. Originality/value This paper differs from other studies related to energy and environmental efficiencies in the literature with some aspects. First, to the best of the authors’ knowledge, this study is the first one that takes into account time periods (months and years) as (DMUs for a single organization. Second, this study investigates environmental nonefficiencies, which are derived from energy uses and factors affecting energy use.
{"title":"Measuring energy-based environmental efficiency of buildings using data envelopment analysis models - a hospital application case","authors":"A. Koç, Serap Ulusam Seçkiner","doi":"10.1108/ijesm-03-2023-0017","DOIUrl":"https://doi.org/10.1108/ijesm-03-2023-0017","url":null,"abstract":"\u0000Purpose\u0000This study aims to investigate environmental efficiency based on energy change by using energy-related or nonenergy-related variables by reckoning with months and years as decision-making units (DMUs) for a hospital under radial and nonradial models.\u0000\u0000\u0000Design/methodology/approach\u0000The non-oriented slack-based measures (SBM)-data envelopment analysis (DEA) model considering desirable and undesirable outputs has been embraced in this study, where its obtained results were compared with the results of other DEA models are output-oriented SBM-DEA and Banker, Charnes, & Cooper-DEA. For this purpose, this research has used a data set covering the 2012–2018 period for a reference hospital, which includes energy-related and nonenergy-related variables.\u0000\u0000\u0000Findings\u0000The results demonstrate that environmental efficiency based on energy reached the highest level in the winter months, whereas the summer months have the lowest efficiency values arising from the increasing electricity consumption due to high cooling needs. According to results of the non-oriented SBM model, the month with the highest efficiency in all periods is January with a 0.936 average efficiency score, the lowest month is August with a 0.406 value.\u0000\u0000\u0000Originality/value\u0000This paper differs from other studies related to energy and environmental efficiencies in the literature with some aspects. First, to the best of the authors’ knowledge, this study is the first one that takes into account time periods (months and years) as (DMUs for a single organization. Second, this study investigates environmental nonefficiencies, which are derived from energy uses and factors affecting energy use.\u0000","PeriodicalId":46430,"journal":{"name":"International Journal of Energy Sector Management","volume":" ","pages":""},"PeriodicalIF":3.1,"publicationDate":"2023-07-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46487661","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Purpose Coal is the basic energy and essential resource in China, which is crucial to the economic lifeline and energy security of the country. Coal mining has been ever exposed to potential safety risks owing to the complex geologic environment. Effective safety supervision is a vital guarantee for safe production in coal mines. This paper aims to explore the impacts of the internet+ coal mine safety supervision (CMSS) mode that is being emerged in China. Design/methodology/approach In this study, the key factors influencing CMSS are identified by social network analysis. They are used to develop a multiple linear regression model of law enforcement frequency for conventional CMSS mode, which is then modified by an analytical hierarchy process to predict the law enforcement frequency of internet+ CMSS mode. Findings The regression model demonstrated high accuracy and reliability in predicting law enforcement frequency. Comparative analysis revealed that the law enforcement frequency in the internet+ mode was approximately 40% lower than the conventional mode. This reduction suggests a potential improvement in cost-efficiency, and the difference is expected to become even more significant with an increase in law enforcement frequency. Originality/value To the best of the authors’ knowledge, this is one of the few available pieces of research which explore the cost-efficiency of CMSS by forecasting law enforcement frequency. The study results provide a theoretical basis for promoting the internet+ CMSS mode to realize the healthy and sustainable development of the coal mining industry.
{"title":"Forecasting law enforcement frequency of internet+ coal mine safety supervision","authors":"Yuzhen Long, Chunli Yang, Xiangchun Li, Weidong Lu, Qi Zhang, Jiaxing Gao","doi":"10.1108/ijesm-03-2023-0015","DOIUrl":"https://doi.org/10.1108/ijesm-03-2023-0015","url":null,"abstract":"\u0000Purpose\u0000Coal is the basic energy and essential resource in China, which is crucial to the economic lifeline and energy security of the country. Coal mining has been ever exposed to potential safety risks owing to the complex geologic environment. Effective safety supervision is a vital guarantee for safe production in coal mines. This paper aims to explore the impacts of the internet+ coal mine safety supervision (CMSS) mode that is being emerged in China.\u0000\u0000\u0000Design/methodology/approach\u0000In this study, the key factors influencing CMSS are identified by social network analysis. They are used to develop a multiple linear regression model of law enforcement frequency for conventional CMSS mode, which is then modified by an analytical hierarchy process to predict the law enforcement frequency of internet+ CMSS mode.\u0000\u0000\u0000Findings\u0000The regression model demonstrated high accuracy and reliability in predicting law enforcement frequency. Comparative analysis revealed that the law enforcement frequency in the internet+ mode was approximately 40% lower than the conventional mode. This reduction suggests a potential improvement in cost-efficiency, and the difference is expected to become even more significant with an increase in law enforcement frequency.\u0000\u0000\u0000Originality/value\u0000To the best of the authors’ knowledge, this is one of the few available pieces of research which explore the cost-efficiency of CMSS by forecasting law enforcement frequency. The study results provide a theoretical basis for promoting the internet+ CMSS mode to realize the healthy and sustainable development of the coal mining industry.\u0000","PeriodicalId":46430,"journal":{"name":"International Journal of Energy Sector Management","volume":" ","pages":""},"PeriodicalIF":3.1,"publicationDate":"2023-07-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42275122","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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