This paper provides a unique empirical analysis of the effects of political factors on the adoption of PPP contracts in Brazil. As such, it innovates along two different lines: first, political factors behind the adoption of PPPs have been largely ignored in the vast body of empirical literature, and second, there is scant work done on the motives of any kind behind the adoption of PPPs in Brazil. Various economic and financial reasons have been evoked to justify the use of PPPs in general. These include the goal of promoting socio-economic development in a tight public budgetary framework or of improving the quality of public services through the use of economically efficient and cost-effective mechanisms. Any possible underlying political motives, however, have been overlooked in the PPP research. And yet, there is abundant literature suggesting a link between the adoption of PPPs and the ideology of the governing body or the political cycles associated with elections. This study examines the impact of ideological commitment and opportunistic political behavior on the process of PPP contracting in Brazil, including the stages of public consultation, the publication of tender, and the signature of the contract, using federative-level data for the period between 2005 and 2022. Consistent with the outstanding literature, the two hypotheses are tested: first, conservative parties tend to celebrate more PPP contracts than left-leaning parties, and second, the electoral calendar has a significant effect in the process, allowing for opportunistic behaviors. Empirical results suggest that there is little evidence for the relevance of ideological leanings in the process of adopting PPPs in Brazil. Additionally, regardless of ideology, parties significantly choose to enter PPPs at specific points in the electoral cycle, suggesting decisions are influenced by political considerations and electoral strategy rather than by purely financial or ideological considerations. This may pose severe constraints on the efficiency and cost-effectiveness of the contracts, negatively impacting public governance and leading to protracted costs for taxpayers.

This study investigates the relationship between corporate social responsibility (CSR), capital structure, and financial distress in Jordan’s financial services sector. It tests the mediating effect of capital structure on the CSR-distress linkage. Utilizing a panel data regression approach, the analysis examines a sample of 35 Jordanian banks and insurance firms from 2015–2020. CSR is evaluated through content analysis of sustainability disclosures. Financial distress is measured using Altman’s Z-score model. The findings reveal an insignificant association between aggregated CSR engagement and bankruptcy risk. However, capital structure significantly mediates the impact of CSR on financial distress. Specifically, enhanced CSR enables higher leverage capacity, subsequently escalating distress risk. The results advance academic literature on the nuanced pathways linking CSR to financial vulnerability. For practitioners, optimally balancing CSR and financial sustainability is recommended to strengthen resilience. This study provides novel empirical evidence on the contingent nature of CSR financial impacts within Jordan’s understudied financial services sector. The conclusions offer timely insights to inform policies aimed at achieving sustainable and stable financial sector development.

For this, the primary aim of this study was to analyze of the impact of cultural accessibility and ICT (information and communication technology) infrastructure on economic growth in Kazakhstan, employing regression models to asses a single country data from 2008 to 2022. The research focuses on two sets of variables: cultural development variables (e.g., number of theaters, museums, and others) and ICT infrastructure variables (e.g., number of fixed Internet subscribers, total costs of ICT, and others). Principal component analysis (PCA) as employed to reduce the dimensionality of the data and identify the most significant predictors for the regression models. The findings indicate that in the cultural development model (Model 1), the number of recreational parks and students are significant positive predictors of GDP per capita. In the ICT infrastructure model (Model 2), ICT costs are found to have a significant positive impact on GDP per capita. Conversely, traditional connectivity indicators, such as the number of fixed telephone lines, show a low dependence on economic growth, suggesting diminishing returns on investment in these outdated forms of ICT. These results suggest that investments in cultural and ICT infrastructure are crucial for economic development. The study provides valuable insights for policymakers, emphasizing the need for quality improvements in education and strategic modernization of communication technologies.

This study aims to empirically analyze the impact of budget allocation by the Korea Institute of Science and Technology Information (KISTI) on national research competitiveness, thereby reassessing the value of investing in research infrastructure within a knowledge-based society. In the 21st century, research and development (R&D) have emerged as a pivotal element of national competitiveness, underlining the increasing importance of investments aimed at constructing and enhancing research infrastructure. However, empirical studies examining the causal relationship between research infrastructure investment and national research competitiveness are still notably scarce. Accordingly, this research endeavors to systematically delineate the effect of research infrastructure investment, with a focus on KISTI’s budget allocation, on enhancing national R&D outcomes. To achieve this, the structural relationship between KISTI’s budget, national R&D budget, and various academic and industrial performance indicators was analyzed using multiple regression and simple regression analysis. In particular, by demonstrating the mechanism through which the budget management of research support organizations like KISTI contributes to strengthening national research competitiveness, this study aims to shed new light on the strategic value of research infrastructure investment in a knowledge-based society. Furthermore, these findings are expected to provide valuable evidence for the formulation of national R&D policies in Korea and the strategic planning of budget operations for research support organizations. Through strategic investment of limited budgets, this could enhance the efficiency of national R&D investments and contribute to strengthening the capacity for scientific and technological innovation required in a knowledge-based society.