This paper investigates the implementation of ijarah muntahiyah bittamlik (IMBT) as an infrastructure project financing scheme within the Public-Private Partnership (PPP) models from a collaborative governance perspective. This paper follows a case study methodology. It focuses on two Indonesian non-toll road infrastructure projects, i.e., the preservation of the East Sumatra Highway projects, each in South Sumatra province and Riau province. The findings revealed that Indonesia’s infrastructure development priorities and its vision to become a global leader in Islamic finance characterized the system context that shaped the implementation of IMBT as an infrastructure project financing scheme within the PPP-AP model. Key drivers include leadership from the government, stakeholder interdependence, and financial incentives for the partnering business entity to adopt off-balance sheet solutions. Principled engagement, shared motivation, and the capacity for joint action characterized the collaboration dynamics, leading to detailed collaborative actions crucial for implementing IMBT as a financing scheme.

SMEs are characterized by a number of flaws that threaten their survival and counteract them from reaching high levels of growth and development. Access to finance is the primary problem facing these companies in the Moroccan context. Aware of the effective and potential impacts of SMEs on the country as a whole, the Moroccan Government through a variety of actors has mobilized its efforts in a number of ways to support this population of companies. This study assesses the extent to which actors within the Moroccan SMEs’ financing ecosystem align to support these companies and develop their ability to access external financing. Using the MACTOR model, based on an in-depth contextual analysis and expert interviews, our findings suggest that Morocco’s SMEs’ financing ecosystem is skewed, with high levels of convergence between its components.

Starting from the ‘90s, there has been a significant increase in PPP use in the public sector in Europe, benefiting the implementation of infrastructure projects. In Italy, PPP is still much more limited than in such countries as the UK and France: the projects funded are smaller and the sectors involved are less appropriate. Based on the economic literature, European initiatives and international comparisons, the paper examines aspects of regulations that could encourage the appropriate use of PPP and considers the problems with the Italian regulations, while proposing some corrective measures. The main limitations involve: i) the absence of adequate preliminary assessments about the advantages of using PPP rather than the traditional procurement, ii) the relative lack of attention to the contract terms, iii) inadequate safeguards to ensure the bankability of the projects, and iv) limited information transparency and accessibility.

Despite its leading role in the urban transport system, paratransit is accused of being unsustainable and hostile to modernity. The reform of the sector is necessary in the context of the modernization of the transport system of African cities. It requires the formalization of actors through technical and financial support such as fleet renewal projects. This article attempts to analyze the financing process and the level of formalism of the operators constituted within the AFTU in the context of the financing operation of paratransit operators in Dakar, Senegal. The methodological approach adopted is based on the analysis of qualitative data from questionnaire surveys carried out in the AFTU network in Dakar; official documents¹ were also used. The results show that the Dakar financing model put in place has made it possible to make significant progress in the reorganization of paratransit professionals. In addition to the concessioned lines, a salaried system was introduced, pricing is now official and the standardized ticketing system has been put in place. Nevertheless, improvements are expected on the working conditions of employees, the capacity building of actors and the evolution of the legal status of companies.

This study investigates the impact of corporate carbon performance on financing costs, focusing on S&P 500 companies from 2015 to 2022. Utilizing a fixed-effects regression model, the research reveals a complex U-shaped nonlinear relationship between carbon intensity (CI) and cost of debt (COD). The sample comprises 2896 firm-year observations, with CI measured by the ratio of Scope 1 and 2 greenhouse gas (GHG) emissions to annual sales. The findings indicate that companies with higher CI initially face increased COD due to heightened regulatory and operational risks. However, as CI falls below a certain threshold, further reductions in emissions can paradoxically lead to increased COD, likely due to the substantial investments required for advanced technologies. Additionally, a positive relationship between CI and cost of equity (COE) is observed, suggesting that shareholders demand higher returns from companies with greater environmental risks. These results underscore the importance of balancing short-term and long-term environmental strategies. The study highlights the need for corporate managers to communicate the long-term benefits of environmental efforts effectively to creditors and investors. Policymakers should consider these dynamics when designing regulations that incentivize lower carbon emissions.

Amid the relentless grip of the COVID-19 pandemic, sustainability has emerged as a paramount concern across global economies. As businesses grapple with unprecedented challenges, the imperative for sustainable practices in corporate finance becomes increasingly evident. Throughout this crisis, companies have faced staggering financial strains, with diminished turnovers and escalating operational costs pushing many to the brink of collapse. In response, governments worldwide have provided vital support, albeit often insufficient, underscoring the necessity for sustainable mechanisms of intervention. Central to this discourse is an examination of how companies have adapted their financing policies amidst the pandemic’s tumult. Government-backed credit facilities have served as a critical lifeline for numerous businesses, emphasizing the need for sustainable financial instruments readily deployable in times of crisis. Concurrently, moratoriums on existing credit obligations have offered temporary relief, albeit with looming concerns regarding heightened corporate indebtedness. Moreover, the pandemic’s aftermath has witnessed a pronounced uptick in corporate borrowing, compounded by surging interest rates. This confluence underscores the exigency for companies to adopt sustainable financial strategies, mindful not only of short-term exigencies but also the enduring ramifications on financial stability. In navigating these challenges, a holistic approach to sustainability is imperative. Governments must ensure robust support mechanisms, while companies must proactively seek sustainable financing solutions. Concurrently, stakeholders must meticulously weigh the long-term repercussions of financial policy adjustments, thereby fortifying corporate resilience against future crises while safeguarding the stability of the global economy. In essence, the COVID-19 pandemic has underscored the critical imperative for sustainability in corporate finance. By heeding this call and embracing sustainable practices, businesses can navigate crises with greater resilience, ensuring not only their survival but also the enduring stability of the economic landscape.