The role of eco-innovation, renewable energy consumption, economic risks, globalization, and economic growth in achieving sustainable environment in emerging market economies

Hye, Qazi Muhammad Adnan; Ul-Haq, Jabbar; Visas, Hubert; Rehan, Raja

doi:10.1007/s11356-023-28945-4

Cited by 17 publications

(5 citation statements)

References 79 publications

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“…Subsequently, following the practices of earlier researchers (see [39][40][41]), this study accepted only those firms that have been continuously tagged as Shariah firms in the last three consecutive periods. Moreover, all those firms that are operating in financial sectors are removed from the inquiry because they are bound by central banks to maintain their capital structure up to the instructed threshold [42,43]. Thus, their capital structure maintaining practices are dissimilar to those of non-financial firms [44].…”

Section: Methodsmentioning

confidence: 99%

What explain capital structure determinants choices of Shariah firms?

Rehan,

Sa’ad,

Rosman

et al. 2024

5003

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This study aims to discover key capital structure determinants for the entire Shariah firms operating in dissimilar contexts. Moreover, it also estimates the adjustment speed for these firms to maintain targeted capital structures at all times. For this purpose, 321 Shariah firms that are operational in Saudi Arabia, Pakistan, the UAE, and Indonesia are nominated. The empirical analysis is conducted using 11 years, i.e., 2011-2021, of balanced Panel Data. The debt-to-asset and debt-to-equity ratios are used as variables of interest, whereas the asset tangibility ratio, current ratio, return on equity, size, non-debt-tax shield, inflation, and gross domestic product are used as explanatory variables. The robust estimator, i.e., Generalized Method of Moments (GMM), is executed to perform the analysis. The results show that the most important factors for Shariah-tagged firms are inflation, the gross domestic product, the asset ratio, the return on equity, the non-debt tax shield, and the lagged dependent variables. The important role of asset tangibility, lagged variables, and the presence of adjustment speed postulate that Shariah-tagged firms are following the provided guidelines of Dynamic Trade-Off theory to preserve capital structure. The findings are a new contribution to the limited empirical inquiries of Shariah firms’ capital structure and a fresh addition to Islamic Finance literature. Besides, the outcomes are also helpful for policymakers and assist them in developing an optimal model of capital structure for Shariah-tagged firms that decreases overall capital costs and enhances these firms’ market value.

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Section: Methodsmentioning

confidence: 99%

What explain capital structure determinants choices of Shariah firms?

Rehan,

Sa’ad,

Rosman

et al. 2024

5003

View full text Add to dashboard Cite

show abstract

“…The results revealed the existence of heteroscedasticity, serial correlation, and cross-sectional dependence. In order to address these issues, the Driscoll-Kraay Standard Errors (DKSEs) [40,41], as suggested by Hoechle [42], is the preferred model for the manufacturing sector (N=9 and T=8; N is greater than T), whereas the FGLS is the preferred model for the provincial study (N=4 and T=11; T is greater than N), as suggested by the Parks-Kmenta method [35,[43][44][45]. In addition, for robustness checks, the Panel Corrected Standard Errors (PCSEs) and DKSEs are utilized.…”

Section: Methodsmentioning

confidence: 99%

Sectoral and regional impacts of trade liberalization on the skilled-unskilled wage-gap in Pakistan

Jameel,

Hina,

Ul-Haq

2023

2576-8484

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This study explores the impacts of trade liberalization on the skilled-unskilled wage gap (henceforth SUSWG) by using the micro-level data of Pakistan. It is generally believed that when economies are liberalized, the SUSWG increases, especially in poor economies. Our study uses a two-step estimation methodology. We used two measures for SUSWG at sectoral and regional levels. We employed Oaxaca-Blinder decomposition for residual wage-gap, and log-wage-gap. For empirical (i.e., sectoral and regional) analysis, we employed Fixed effects (FE), Random effects (RE) and FE with Driscoll-Kraay Standard Errors (DKSEs), feasible generalized-least-squares (FGLS), and Panel-corrected Standard Errors (PCSE). We used sectoral panel data for sectoral analysis and provincial panel data for regional analysis, using the data from 1990 to 2005. Our study finds that protection rates and SUSWG are associated in Pakistan. Trade liberalization increases the SUSWG. The sectoral and regional analysis reveal similar findings on the impact of liberalization on SUSWG. Moreover, our results are robust and insensitive to various controls, measurement approaches (i.e., the log wage gap and the residual wage gap), and econometric techniques. We also find that lagged tariffs increase the SUSWG. Our findings will provide guidelines for policymakers to make future policies regarding trade liberalization and SUSWG in Pakistan.

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“…Eco-innovations can increase energy efficiency and diminish equipment losses and undue costs in the production system [37]. Several empirical studies focus on eco-innovation and its potential effect on the environment and sustainable development [38][39][40][41][42][43][44] and renewable energy consumption, with mixed findings. For instance, Ref.…”

Section: Introductionmentioning

confidence: 99%

How Environmental Policy Stringency, Foreign Direct Investment, and Eco-Innovation Supplement the Energy Transition: New Evidence from NICs

Azam

2024

Sustainability

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Several researchers have studied the environmental policy stringency and ecological innovation regarding CO2 emissions and renewable energy consumption; however, the impact of environmental policy stringency, technological innovation, FDI, and ecological innovation on energy transition has not been studied in the case of NICs. For this purpose, panel quantile regression models are applied in the context of NICs from 2000 to 2021. Our empirical results show that the effect of foreign direct investment is positive and statistically significant on energy transition. On the other hand the variables environmental policy stringency, eco-innovation, and ICT-trade have an inverse effect on energy transition. Therefore, the findings of the study also provide policy implications that indicate NICs need to optimize their trade structure and re-innovate the latest innovation spillovers, and strict environmental policies should be introduced to facilitate energy transition in NICs.

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The role of eco-innovation, renewable energy consumption, economic risks, globalization, and economic growth in achieving sustainable environment in emerging market economies

Cited by 17 publications

References 79 publications

What explain capital structure determinants choices of Shariah firms?

What explain capital structure determinants choices of Shariah firms?

Sectoral and regional impacts of trade liberalization on the skilled-unskilled wage-gap in Pakistan

How Environmental Policy Stringency, Foreign Direct Investment, and Eco-Innovation Supplement the Energy Transition: New Evidence from NICs

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