This study investigates the influence of Environmental, Social, and Governance Disclosures (ESGD) on the profitability of firms, using a sample of 385 publicly listed companies on the Thai Stock Exchange. Data from 2018 to 2022 is sourced from the Bloomberg database, focusing on ESGD scores as indicators of companies’ ESG commitments. The study utilizes a structural equation model to examine the relationships between independent variables; ESGD, Earnings Per Share (EPS), Debt to Assets ratio (DA), Return on Investment Capital (ROIC), Total Assets (TA), and dependent variables Tobin’s Q (TBQ) and Return on Assets (ROA). The analysis reveals a positive relationship between ESGD and TBQ, but not with ROA. Further exploration is conducted to determine if different ESGD levels (high, medium, low) yield consistent effects on TBQ. The findings indicate discrepancies: high and medium ESGD levels are associated with a negative impact on TBQ when EPS increased, whereas low ESGD levels correlate with an increase in TBQ with rising EPS. This nuanced approach challenges the conventional uniform treatment of ESGD in previous research and provides a deeper understanding of how varying commitments to ESG practices affect a firm’s market valuation and profitability. These insights are crucial for firm management, highlighting the importance of ESGD in relation to other financial variables and their effects on market value. This study offers a new perspective on ESGD’s impact, emphasizing the need for differentiated strategies based on ESG commitment levels.

Technological innovation allows nations to produce sophisticated products more efficiently and at higher quality to increase exports. Countries that aim to produce and export sophisticated products can improve their economic complexity and lead to the country’s economic development. Hence, the study investigates the impact of technological innovation on economic complexity in South Africa. Technological innovation, exports, and manufactured products were used as variables to examine South Africa’s economic complexity index. The study employed the ARDL method to determine the relationship among the variables. The ARDL F-bounds test reflected the long-run cointegration among the selected variables. The study produced long-run positive estimates of technological innovation, exports, and manufactured products on economic complexity, however, manufactured products and exports were insignificant. Granger causality indicated unidirectional causality on economic complexity to manufactured products, exports to technological innovation, and a bi-directional causal effect from exports to economic complexity and technological innovation to economic complexity. The study recommends that South Africa focus on innovation, create more diversified and sophisticated products and processes, and promote more manufacturing firms, particularly Agri-processed products.

This study delves into the evolving landscape of smart city development in Kazakhstan, a domain gaining increasing relevance in the context of urban modernization and digital transformation. The research is anchored in the quest to understand how specific technological factors influence the formation of smart cities within the region. To this end, the study adopts a Spatial Autoregressive Model (SAR) as its core analytical tool, leveraging data on server density, cloud service usage, and electronic invoicing practices across various Kazakhstani cities. The crux of the research revolves around assessing the impact of these selected technological variables on the smart city development process. The SAR model’s application facilitates a nuanced understanding of the spatial dynamics at play, offering insights into how these factors vary in influence across different urban areas. A key finding of this investigation is the significant positive correlation between the adoption of electronic invoicing and smart city development, a result that stands in contrast to the relatively insignificant impact of server density and cloud service usage. The conclusion drawn from these findings underscores the pivotal role of digital administrative processes, particularly electronic invoicing, in driving the smart city agenda in Kazakhstan. This insight not only contributes to the academic discourse on smart cities but also holds practical implications for policymakers and urban planners. It suggests a strategic shift towards prioritizing digital administrative innovations over mere infrastructural or technological upgrades. The study’s outcomes are poised to guide future smart city initiatives in Kazakhstan and offer a reference point for similar emerging economies embarking on their smart city journeys.