Chinese municipalities have developed a large stock of capital assets during a period of rapid growth and urbanization, but have yet to modernize asset management practices. Cities face challenges such as premature decline of fixed assets and spiking liabilities related to operating and maintaining assets. This paper evaluates the asset management practices in three selected small cities and towns in China, using a benchmarking assessment tool followed by an in-depth field assessment. The paper finds that overall performance is below half the international benchmark for good practice in all three cities. Management practices are considerably more advanced for land than for buildings and infrastructure. Key deficiencies in data availability and reporting, governance, capacity, and financial management indicate increased risks for local government finance and the delivery of public services. For small cities and towns where public revenues are often uncertain and limited, urban public services will be at risk of deterioration unless good asset management practices are put in place. The paper recommends strategic actions for upper and lower levels of government, to advance local asset management practices and facilitate the reform agenda.

Many financial crises have occurred in recent decades, such as the International Debt Crisis of 1982, the East Asian Economic Crisis of 1997–2001, the Russian economic crisis of 1992–1997, the Latin American debt Crisis of 1994–2002, the Global Economic Recession of 2007–2009, which had a strong impact on international relations. The aim of this article is to create an econometric model of the indicator for identifying crisis situations arising in stock markets. The approach under consideration includes data for preprocessing and assessing the stability of the trend of time series using higher-order moments. The results obtained are compared with specific practical situations. To test the proposed indicator, real data of the stock indices of the USA, Germany and Hong Kong in the period World Financial Crisis are used. The scientific novelty of the results of the article consists in the analysis of the initial and given initial moments of high order, as well as the central and reduced central moments of high order. The econometric model of the indicator for identifying crisis situations arising considered in the work, based on high-order moments plays a pivotal role in crisis detection in stock markets, influencing financial innovations in managing the national economy. The findings contribute to the resilience and adaptability of the financial system, ultimately shaping the trajectory of the national economy. By facilitating timely crisis detection, the model supports efforts to maintain economic stability, thereby fostering sustainable growth and resilience in the face of financial disruptions. The model’s insights can shape the national innovation ecosystem by guiding the development and adoption of monetary and financial innovations that are aligned with the economy’s specific needs and challenges.

In the evolving landscape of the 21st century, universities are at the forefront of re-imagining their infrastructural identity. This conceptual paper delves into the transformative shifts witnessed within university infrastructure, focusing on the harmonisation of tangible physical assets and the expanding world of digital evolution. As brick-and-mortar structures remain pivotal, integrating digital platforms rapidly redefines the academic landscape, optimising learning and administrative experiences. The modern learning paradigm, enriched by this symbiotic relationship, offers dynamic, flexible, and comprehensive educational encounters, thereby transcending traditional spatial and temporal constraints. Therefore, this paper accentuates the broader implications of this infrastructural metamorphosis, particularly its significant role in driving economic development. The synergistic effects of physical and digital infrastructures enhance academic excellence and position universities as key players in addressing and navigating global challenges, setting forth a resilient and forward-looking educational blueprint for the future. In conclusion, integrating physical and digital infrastructures within universities heralds a transformative era, shaping a holistic, adaptable, and enriched academic environment poised to meet 21st-century challenges. This study illuminates the symbiotic relationship between tangible university assets and digital innovations, offering insights into their collective impact on modern education and broader economic trajectories.

Social Prescribing (SP) is an approach which aims of improving health and well-being and connecting patients to community services. Examples of these services include physical activity and cultural activities. Despite its benefits, SP has still not been fully implemented in Portugal. This case study is part of a larger study on Social Prescribing Local System (SPLS) implementation, which comprised a quantitative approach, a pilot study and a qualitative approach, and aims at exploring patients’ and healthcare workers’ perspectives on SP. The study was carried out to understand the motivations of different stakeholders for participating in the pilot project, the anticipated benefits for patients, healthcare professionals, and the health unit, as well as their perceptions and experiences within the scope of the SP project. Data collection was carried out in December 2020 through semi-structured individual interviews and a focus group. A total of seven participants were included, of which one patient, one museum representative and five healthcare professionals. Different common dimensions related to SP emerge, including health and well-being, social interaction and community engagement, accessibility and inclusivity, motivation and adherence, collaboration and coordination, and education and awareness. The patient considered the adequacy of the activity to the patient’s state of health and capabilities, adoption of a phased approach, with a focus on progress, in order to promote long-term adherence as facilitators. For the museum, disseminating its activities to healthcare professionals and patients through different channels such as posters at the health center, social media pages, and training sessions can significantly enhance visibility and engagement, while direct phone contact and digital publications can further promote adherence, ensuring a comprehensive and coordinated approach to patient participation and institutional benefit. Healthcare professionals identified several benefits, including reduction of social isolation and sedentarism, as well as a means of strengthening the therapeutic relationship with patients. The design and implementation of SP programs should be participative and involve all stakeholders participating in the process. Barriers to adherence included time for activity and the associated costs or prerequisites, availability of activities and lack of perceived interest in health.

With the characteristics of resisting business cycle, mitigating cash flow, and improving portfolio resilience, special assets usually enter a highly active period in the economic downturn cycle, and gradually become an effective asset allocation means in the transition phase of the business cycle. This article aims to analyze the importance of the development of China's special asset investment industry in the context of high-quality economic development, and explore how to introduce market-oriented mechanisms to build primary and secondary markets for special assets, in order to improve the effective allocation of market resources and maximize returns.

New technologies always have an impact on traditional theories. Finance theories are no exception to that. In this paper, we have concentrated on the traditional investment theories in finance. The study examined five investment theories, their assumptions, and their limitation from different works of literature. The study considered Artificial Intelligence (AI) and Machine Learning (ML) as representative of financial technology (fintech) and tried to find out from the literature how these new technologies help to reduce the limitations of traditional theories. We have found that fintech does not have an equal impact on every conventional finance theory. Fintech outperforms all five traditional theories but on a different scale.