This paper investigates the impact of financial inclusion on financial stability in BRICS countries from 2004 to 2020. Using a panel smooth transition regression model, the results reveal a U-shaped relationship between financial inclusion and financial stability. Financial inclusion reduces financial stability up to a threshold of 44.7%. Beyond this point, financial inclusion contributes to greater financial stability, through gradual transitions. Enhanced financial inclusion supports banks in stabilizing their deposit funding by facilitating access to more stable, long-term funds and alleviating the negative impacts of fluctuations in returns. Furthermore, the study examines the role of institutional quality in shaping the financial inclusion-financial stability nexus, indicating a significant positive effect, especially in the upper regime. These findings provide valuable insights for financial regulatory authorities, highlighting the importance of promoting financial inclusion in BRICS economies and adapting regulations to mitigate potential risks to global financial stability.

This study investigates the impact of corporate carbon performance on financing costs, focusing on S&P 500 companies from 2015 to 2022. Utilizing a fixed-effects regression model, the research reveals a complex U-shaped nonlinear relationship between carbon intensity (CI) and cost of debt (COD). The sample comprises 2896 firm-year observations, with CI measured by the ratio of Scope 1 and 2 greenhouse gas (GHG) emissions to annual sales. The findings indicate that companies with higher CI initially face increased COD due to heightened regulatory and operational risks. However, as CI falls below a certain threshold, further reductions in emissions can paradoxically lead to increased COD, likely due to the substantial investments required for advanced technologies. Additionally, a positive relationship between CI and cost of equity (COE) is observed, suggesting that shareholders demand higher returns from companies with greater environmental risks. These results underscore the importance of balancing short-term and long-term environmental strategies. The study highlights the need for corporate managers to communicate the long-term benefits of environmental efforts effectively to creditors and investors. Policymakers should consider these dynamics when designing regulations that incentivize lower carbon emissions.

Incest is one of the most serious forms of sexual abuse that occurs between a father and his daughter. It involves a parent committing something forbidden to their own child, which violates moral standards. This incestuous relationship has a significant impact on the survivors’ psychology, body, and emotions, affecting all aspects of their lives. This study explores the long-term effects experienced by individuals in Malaysia who have survived father-daughter incest (FDI). This study conducted in-depth interviews with 11 key persons from several agencies involved in handling FDI cases in Malaysia. The findings reveal that those who experienced FDI frequently suffered long-term issues. It is important for everyone involved in assisting these individuals. This is aligned with the global Sustainable Development Goals (SDGs), particularly Goal 3, which emphasises the value of good health and well-being for all. It also aligns with Malaysia’s MADANI concept, which emphasises protecting and promoting everyone’s human rights. FDI survivors can receive the protection and assistance they require to live healthier and more successful lives by implementing an effective strategy that includes mental health support, powerful laws, and community education.

The growing attention paid to industrial tourism can be seen as one of the major trends in cultural tourism and marketing and has given currency to the proposition that customer experience of industrial tourism acts as a direct personal source of information about their perceptions of companies visited and is essential for customer relationship management of companies. This study applies the service theater theory and proposes a model to explore the structural relationships among theatrical elements of industrial tourism (including setting, performance, and actor), the dimensions of customer experience (enjoyment, learning, and escape), and customers’ behavior intentions. A survey of 500 industrial tourists in a transparent factory in the health food industry was conducted in Zhuhai, Guangdong, China. The results of structural equation modeling indicate that two theatrical factors (setting and performance) relate positively to all dimensions of customer experiences. In contrast, the theatrical factor “actor” only relates positively to the learning experience. Furthermore, all dimensions of customer experience, in turn, positively affect customers’ behavioral intentions. This study will be helpful for corporate managers and tourism organizers who aim to develop and implement marketing strategies based on the service theatre theory to improve their services.

In order to diversify a portfolio, find prices, and manage risk, derivatives products are now necessary. There is a lack of understanding of the true influence of derivatives on the behavior of the underlying assets, their volatility consequences, and their pricing as complex instruments. There is a dearth of empirical research on how these instruments impact company risk exposures and inconsistent findings. This study examines corporate derivatives’ impact on stock price exposure and systematic risk in South African non-financial firms. Using a dataset of listed firms from 2013 to 2023, we employ Generalized Autoregressive Conditional Heteroscedasticity (GARCH) models to assess the effect of derivatives on return volatility and beta, a measure of systematic risk. Additionally, we apply the Generalized Method of Moments (GMM) to address potential endogeneity between firm characteristics and derivatives use. Our findings suggest that firms using derivatives experience lower overall volatility and reduced systematic risk compared to non-users. The results are robust to various control factors, including firm size, leverage, and macroeconomic conditions. This study fills a gap in the literature by focusing on an underrepresented emerging market and provides insights relevant to global risk management practices.

The purpose of this research was to investigate the influence of innovative organizational culture on innovativeness through human resource management and the innovative skills of personnel. The population of this study comprised small and medium enterprises (SMEs) in Thailand from both the manufacturing and service sectors. Purposive sampling was employed to gather information from entrepreneurs, executives, or department managers of SMEs through an online questionnaire distributed via email, obtaining a total of 440 responses. Data were analyzed using descriptive statistics and structural equation models (SEM) for hypothesis testing. The results indicated that SMEs in this context had a moderate level of innovative organizational culture, human resource management, innovative skills, and innovativeness. Moreover, the structural equation model was consistent with the empirical data, revealing that innovative organizational culture has a direct influence on innovativeness. Furthermore, human resource management and the innovative skills of personnel were found to be partial mediators in the relationship between innovative organizational culture and innovativeness. The indirect effect through these two variables was greater than the direct effect. These findings confirmed the relationship between innovative organizational culture, human resource management, innovative skills, and innovativeness among SMEs in Thailand, leading to guidelines for businesses to improve their innovativeness.