Since 2022, global geopolitical conflicts have intensified, and there has been a notable increase in the international community's demand for currency diversification. This has created a new opportunity for the internationalization of the Renminbi (RMB). This paper examines the factors influencing the internationalization of the RMB, with a particular focus on its role as a unit of account, medium of exchange and store of value. These functions are considered in conjunction with the digital technological innovation represented by e-CNY. The methodology employed is based on the vector autoregression (VAR) model, Granger causality test and variance decomposition analysis. The Granger causality test indicates that digital technology innovation is not the primary driver of RMB internationalization at this juncture. The impulse response analysis and variance decomposition analysis revealed that the impact and direction of influence exerted by the various factors on RMB internationalization exhibit considerable discrepancies.
The purpose of this research was to explore the link between Environmental, Social, and Governance (ESG) performance and corporate financial performance in the Pacific Alliance countries (Mexico, Colombia, Peru, Chile). The study used regression models to examine the correlation between ESG scores, environmental pillar scores, and financial performance metrics like return on assets (ROA) and EBITDA for 86 companies over 2016-2022. Control variables like firm size and leverage were included. Data was obtained from Refinitiv and Bloomberg databases. The regression models showed no significant positive correlations between overall ESG or environmental pillar scores and the financial valuation measures.The inconclusive results on ESG-firm value connections underscore the need for continued research using larger samples, localized models, and exploring which ESG aspects drive financial performance Pacific Alliance.
Countries employ various strategies to strengthen their soft power through education, public campaigns, mandatory service, and community involvement, essential for building a well-informed, prepared, and resilient citizenry. In Indonesia, the Civic Awareness for State Defence (CASD) program is designed to instil state defence awareness among citizens. This study introduces the Indonesia State Defence Index (SDI), a novel metric grounded in theoretical constructs such as national identity, nationalism, patriotism, and national pride. Differentiating from previous indices, our SDI employs advanced methodologies including Principal Component Analysis (PCA) and Structural Equation Modeling (SEM) to enhance measurement accuracy. Unlike earlier approaches that used traditional aggregation methods, our use of PCA ensures the reduction of dimensions for each state defence indicator, thereby guaranteeing that only the intended dimensions are measured. Utilising data from the State Defence Survey conducted by the Indonesian Ministry of Defence from 1 March to 26 June 2024, we aim to measure and benchmark SDI values across Indonesian regions, thereby elucidating the civic awareness profile in the context of state defence. The refined SDI provides critical insights for policymakers, highlighting regions that require focused interventions to bolster state defence preparedness.
This study aims to analyze Closed Varosha, a prominent tourist destination in the Eastern Mediterranean, as a traumatic landscape in the 1970s. This study also seeks to evaluate this site from the perspective of landscape architecture, with a particular focus on urban memory and dark tourism concepts, and to introduce the concept of “traumatic landscapes” to the existing literature on the subject. The case study analysis, on-site observation and document examination techniques were employed as research methods. A comprehensive literature review was conducted as part of this study, encompassing data on Closed Varosha, the study area, and its surrounding context. The Varosha city visited with the assistance of a travel guide, and comprehensive information and visual materials (photographs, video footage, etc.) collected in the field study. Study results proposed that the landscapes where social traumas are experienced and which have become a symbol should be used for cultural and scientific activities. This may be achieved by making use of urban memory in order to transform these landscapes into an improved version of the existing ones. Furthermore, this could serve to awaken the awareness of universal peace in visitors within the scope of dark tourism. Another potential avenue for exploration is the organization of common sense workshops with the participation of stakeholders from both communities. This could facilitate the development of future solutions through a participatory approach. Additionally, there is a need to expand transnational and multidisciplinary studies. This would enable future generations to engage in dialogue about Closed Varosha in a constructive manner.
