This article measures the performance of listed commercial banks in Vietnam and identifies factors influencing their efficiency. The study follows a two-stage approach: (i) In the first stage, scale efficiency scores from 2016 to 2022 are assessed using the Data Envelopment Analysis (DEA) method; (ii) In the second stage, Tobit regression analyzes internal factors, macroeconomic conditions, and the impact of Covid-19. Key findings show that internal factors such as return on assets positively affect efficiency, while the ratio of equity to total capital has a negative and statistically significant impact. Bank size positively influences efficiency scores. Macroeconomic factors, including economic growth and inflation, were statistically insignificant. However, the Covid-19 pandemic had a significant negative effect on bank efficiency.

The main purpose of this research is to investigate the cash holdings behaviour on sectoral level for South African firms listed on the Johannesburg Stock Exchange (JSE). The accounting cash ratio is used to identify abnormal (excess) cash holdings for the firms listed on the JSE. This informed the panel regression analysis to identify cash holdings determinants on a sectoral level. The sample data included 255 firms of which 102 represent Financial Firms and 153 represent Non-Financial Firms for 2005 to 2019. The findings show the significant internal and external determinants of cash holdings. Comparing coefficient sizes, this research finds that financial and non-financial sectors with abnormal (excess) cash holdings exhibit higher coefficient sizes as opposed to sectors without. As a result, the higher coefficient size shows that the internal and external determinants of cash holdings have a greater effect on the cash holding levels of these sectors. The implications of the findings of this study are that each sector operates differently and that each firm within each sector has differing cash management policies and procedures. Therefore, analyzing cash holdings behaviour on an aggregated level and assuming that all sectors and firms within the collective operate the same is an erroneous assumption, as shown by this study. This research firstly contributed by introducing the use of the accounting cash ratio to indicate the presence of abnormal (excess) cash holdings. Most research focus on cash holdings of Non-Financial Firms. Therefore, the second contribution of this research is that both Non-Financial and Financial Firms with and without abnormal (excess) cash holdings were included to identify determinants of cash holdings, this was also done on a sectoral level.

This study examines the financial integration between Jordan and the BRIC economies (Brazil, Russia, India, and China) to determine whether long-term equilibrium relationships exist and to assess implications for portfolio diversification and policy. Drawing on daily stock index data from 01 January 2014, to 31 August 2024, the study employs econometric techniques, including Granger Causality tests, Johansen Cointegration, and Vector Autoregression (VAR). The stationarity of stock indices at the first difference level is confirmed through unit root testing. Results indicate minimal long-term cointegration between Jordan and BRIC markets, pointing to low integration and potential diversification benefits for institutional investors. However, short-term causal links—particularly between Jordan and the Russian and Indian markets—highlight these countries’ influence on Jordan’s stock fluctuations. The findings suggest that, in the absence of long-term cointegration, investors may mitigate risk by investing in less correlated markets, such as Jordan, while leveraging short-term partnerships with Russia and India. Additionally, the study provides valuable insights for business leaders considering strategic alliances with BRIC counterparts in sectors like technology, agriculture, and energy, and calls for future research into factors like regulatory frameworks and geopolitical stability that may limit long-term financial integration. These results have significant implications for institutional investors, business executives, and policymakers, suggesting targeted strategies for financial stability, risk mitigation, and economic collaboration.

This paper is the third in a series focused on bridging the gap between secondary and higher education. Our primary objective is to develop a robust theoretical framework for an innovative e-business model called the Undergraduate Study Programme Search System (USPSS). This system considers multiple criteria to reduce the likelihood of exam failure or the need for multiple retakes, while maximizing the chances of successful program completion. Testing of the proposed algorithm demonstrated that the Stochastic Gradient Boosted Regression Trees method outperforms the current method used in Lithuania for admitting applicants to 47 educational programs. Specifically, it is more accurate than the Probabilistic Neural Network for 25 programs, the Ensemble of Regression Trees for 24 programs, the Single Regression Tree for 18 programs, the Random Forest Regression for 16 programs, the Bayesian Additive Regression Trees for 13 programs, and the Regression by Discretization for 10 programs.

This study replicates and extends Corbett and Kirsch (2001) and Vastag (2004) using a new data set to investigate the drivers of ISO 14000 certification diffusions using decision tree analysis. The findings indicate that at the national level, ISO 14000 certification diffusions are influenced by factors other than ISO 9000 certification diffusions, such as the number of environmental treaties signed and ratified, industrial activities as a percentage of GDP, and GDP per capita, thus provides a range of managerial insights and enhances scholarly understanding of sustainability beyond the influence of ISO 9000. Future studies might extend the countries included in this study to see if the results are the same. Future research may include other factors like a country’s Environmental, Social, and Governance (ESG) indicators to better understand its commitment to sustainability, including environmental sustainability. The country’s culture may influence customers, investors, and other stakeholders’ knowledge and desire for sustainable practices and inspire firms to obtain ISO 14000 certifications. Since larger firms may seek ISO 14000 certification, future studies may evaluate the influence of the number of large firms in various countries as drivers of ISO certification diffusions.

One of the most frequently debated subjects in international forums is economic growth, which is regarded as a global priority. Consequently, researchers have turned their attention from conventional economic growth at a single average coefficient to divisible economic growth at levels of its value. Although the existing literature has discussed several determinants of economic growth, our article contributes to examining the sources of economic growth in African countries during the generations of reforms from 1990 to 2019 and in the context of economic vulnerability. The variables used in the analysis are gross domestic product, trade openness, financial development, and economic vulnerability. The study uses a quantile regression econometric model to examine these variables at different stages of reform. Quantile regression (QR) estimates for quantiles 0.05 to 0.95 showed mixed results: financial development is favorable to African economic growth at all quantile levels. However, economic vulnerability is a major impediment to economic growth at all quantile levels. In addition, it was found that a high degree of trade openness has a detrimental effect on African economic growth from quantile 0.5 of the dependent variable. Finally, another important result proves that financial development is a remedy for decision-makers against economic vulnerability.