Public-private partnerships (PPPs) were established in Brazil at the beginning of this century, following a global trend of using these partnerships to stimulate investment in infrastructures, particularly in a framework of restrictive budgetary and fiscal conditions. Despite their growing importance and the expectation of an expanding role in the future, not much is known about the actual facts on the ground. The objective of this paper is to be a first step in the direction of filling this information gap by providing important stylized facts about the universe of PPPs in Brazil: the quantitative evolution of PPP adoptions; the characterization of the geographical distribution of PPPs by government level (federal, state, district, and municipal); the characterization of the PPP intervention areas, including the total value of contracts and the modalities of PPP concession (sponsored and administrative). This objective is rendered possible by the development of a new database that covers the entire process of PPP contracting from 2005 to 2022, including the opening of public consultation procedures, the publication of the official notice, and the signing of contracts, as well as multiple thematic, financial, jurisdictional, and regional indicators. In turn, we see the establishment of these stylized facts as a necessary first step in the direction of understanding the factors that may determine or condition their adoption. In general, having a clear picture of the universe of the PPPs in Brazil is fundamental as their use and their role are expected to significantly increase in the future as the country pursues a path of improved economic activity and well-being of the population.
The well-being of society can be realized through meeting basic needs, one of which is providing public infrastructure. This study examines the role of Natural Resource Revenue Sharing Funds (DBH SDA) on government investment in infrastructure in 491 regencies/cities in Indonesia. The testing in this research uses panel data regression analysis. The results show that per capita DBH SDA in Indonesia during the study period of 2010–2012 has a significant and positive influence on government investment in infrastructure. The selection of this period is based on the consideration that a resources boom has occurred, where there is an increased global demand for natural resource commodities followed by an increase in commodity prices, thereby positively impacting revenue for countries or regions abundant in natural resources. Despite DBH SDA having a significant and positive influence, regional spending on infrastructure tends to be more influenced by central government transfers such as General Allocation Fund (DAU), Special Allocation Fund (DAK), and Local Own-source Revenue (PAD). It was found that government investment in infrastructure tends to be influenced by transfer funds, indicating that the role of the central government remains significant in determining the infrastructure expenditure of regencies/cities in Indonesia.
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.
Uncontrolled economic development often leads to land degradation, a decline in ecosystem services, and negative impacts on community welfare. This study employs water yield (WY) modeling as a method for environmental management, aiming to provide a comprehensive understanding of the relationship between Land Use Land Cover (LULC), Land Use Intensity (LUI), and WY to support sustainable natural resource management in the Cisadane Watershed, Indonesia. The objectives include: (1) analyzing changes in WY for 2010, 2015, and 2021; (2) predicting WY for 2030 and 2050 under two scenarios—Business as Usual (BAU) and Protected Forest Area (PFA); (3) assessing the impacts of LULC and climate change on WY; and (4) exploring the relationship between LUI and WY. The Integrated Valuation of Ecosystem Services and Trade-offs (InVEST) model calculates actual and predicted WY conditions, while the Coupling Coordination Degree (CCD) analyzes the LULC-WY relationship. Results indicate that the annual WY in 2021 was 215.8 × 108 m³, reflecting a 30.42% increase from 2010. Predictions show an increasing trend in WY under both scenarios for 2030 and 2050 with different magnitudes. Rainfall contributes 88.99% more dominantly to WY than LULC. Additionally, around 50% of districts exhibited unbalanced coordination between LUI and WY in 2010 and 2020. This study reveals the importance of ESs in sustainable watershed management amidst increasing demand for natural resources due to population growth.
The transfer of knowledge and the preservation of traditions is passed down from generation to generation. The main objective of this study was to explore people’s knowledge of the gastronomic heritage of the Kisalföld regions through an analysis of the county’s (attendance to, decision-making and willingness to spend on food and beverages) taking place in the county, such as the Flavours of Szigetköz, the County Wines Festival, the Flavours of Rábaköz or Eszterházy Baroque Food Festival at Fertőd. A quantitative research was used to analyse the topic (N = 666), the sample is not representative and the selection of respondents was random. Data were collected between 1 September 2023 and 31 October 2023 using electronic questionnaires shared on Google Drive. Data were processed using SPSS 25.0 and MS Office Excel in addition to the descriptive statistical data (modus, median, standard deviation), correlation, and crosstabulation analyses. Important research questions of the study were whether the respondents’ place of respondents influences gastronomic awareness whether age determines willingness to travel to attend a gastronomy event, The most popular gastronomic event in the county was the Vegetables of Hanság Region (mean 3.35), and the least popular was the Szigetköz Flavours of Szigetköz festival (mean 3.01). The key finding of the study is that an essential aspect of sustainability for decision-makers is to know the characteristics of tourists (middle-aged female target group), to select and maximize the different program packages in the marketing of the offer, to distribute the traffic and to avoid mass tourism.
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