The initiation of tapering, sparked by heightened inflation in the United States, reverberates across global markets, with notable implications for Indonesia. This study delved into the nuanced impact of tapering on Sharia-compliant stocks in both Indonesia and Malaysia. The rationale behind selecting Sharia stocks for analysis lies in their composition, featuring companies boasting low debt-to-asset and equity ratios, thereby positing robust resilience in the face of the Federal Reserve’s implementation of tapering. Employing a time series dataset with a weekly sampling period spanning from January to September 2022, the analysis adopted the Error Correction Model (ECM) within a multiple regression framework to circumvent potential spurious regression pitfalls. The results of this study indicate that the impact of tapering off policy in Indonesia has a positive impact in the short term and long term, while in Malaysia it tends to be insignificant in the short term and has a positive impact from the US 10-year bond yield variable and a negative impact from US 1-Year Treasury Bills. This result is interesting because it differs from the general theory. The causal factors include the agility of the Indonesian central bank in maintaining the benchmark interest rate spread with the Fed, the economic stability of both countries, and the increasing trend of coal, with Indonesia being one of the largest producers of the commodity. Investors, in navigating these intricate dynamics, may find strategic insights derived from this research invaluable for shaping their investment decisions. while government policymakers may use them as a reference for shaping policies related to Sharia stock investments, including the incorporation of artificial intelligence.

This paper aims to investigate the determinants of performance for insurance companies in Tunisia from 2004 to 2017. Namely, we consider three dimensions of determinants; those related to firms’ microenvironment, macroenvironment and meso or industry environment. The performance of insurance companies is measured using three criteria: Return On Assets (ROA), Return On Equity (ROE), and Combined Ratio. The independent variables are categorized into three groups: microeconomic variables (Firm Size, Financial leverage, Capital management risk, Volume of capital, and Age of the firm), meso-economic variables (Concentration ratio and Insurance Sector Size), and macroeconomic variables (Inflation, Unemployment, and Population Growth). The General Least Squares (GLS) regression technique is employed for the analysis. The study reveals that the financial performance of Tunisian insurance companies is positively influenced by firm size, capital amount, and risk capital management. On the other hand, it is negatively influenced by leverage level, industry size, concentration index, inflation, and unemployment. In terms of technical performance, the capital amount of the firm, industry size, age of the firm, and population growth have a positive impact. However, firm size, leverage, concentration index, and risk capital management negatively affect technical performance. This paper contributes to the existing literature by examining the determinants of performance specifically for insurance companies in Tunisia. Besides the classical proxies of performance, this paper has the originality of using the technical performance which is the most suitable for the case of Insurance companies.

The research is focused on the evolution of the enterprises, in the field of specialized professional services, medium-period, enterprises that implemented projects financed within Regional Operational Program (ROP) during the 2007–2013 financial programming period. The analysis of the economic performance of the micro-enterprises corresponds to general objectives, but there can be outlined connections between these performances and other economic indicators that were not considered or followed through the financing program. The study case is focused on the development of micro-enterprises in the services area, in the Central Region, Romania (one of the eight development regions in Romania). The scientific approach for this article was based on a regressive statistical analysis. The analysis included the economic parameters for the enterprises selected, comparing the economic efficiency of these enterprises, during implementation with the economic efficiency after the implementation of the projects, during medium periods, including the sustainability period. The purpose of the research was to analyse the economic efficiency of the selected micro-enterprises, after finalizing the projects’ implementation. The authors intend to point out the need for a managerial instrument based on the economic efficiency of companies that are benefiting from non-reimbursable funds. This instrument should be taken into consideration in planning regional development at the national level, regarding the conditions and results expected. Although the authors used regressive statistical analysis the purpose was to prove that there is a need for additional managerial instruments when the financial allocations are being designed at the regional level. This study follows the interest of the authors in proving that the efficiency of non-reimbursable funds should be analysed distinctively on the activity sectors.

The convergence of multifaceted global challenges encompassing the rise of populism, Brexit, the climate crisis, the COVID-19 pandemic, and the Russian invasion of Ukraine has catalyzed a profound reassessment of international trade policies. This article critically examines the intricate linkages between these challenges and their profound implications for the contemporary international trading system. Traditionally, globalization debates in the 1990s underscored the social and environmental dimensions of trade, yet the current landscape reveals an undeniable entwining of societal implications with trade policies. This article delves into the interconnectedness of these global challenges with trade, evaluating how each phenomenon influences and reshapes policy discourse. In particular, the rise of populism and its attendant protectionist sentiments have engendered a reevaluation of trade relationships and multilateral agreements. The seismic geopolitical event of Brexit has disrupted regional trade dynamics, signaling a paradigm shift in established trade blocs. Simultaneously, the imperatives of addressing the escalating climate crisis have spotlighted the necessity for trade policies to align with environmental sustainability goals. The COVID-19 pandemic, acting as a disruptor on a global scale, has accentuated vulnerabilities within supply chains, emphasizing the need for resilience and adaptability in trade frameworks. Additionally, the Russian invasion of Ukraine has introduced geopolitical tensions that further complicate the trade-policy landscape. By critically evaluating these intersecting challenges, this article delineates the evolving nature of trade policies and their inextricable relationship with societal and geopolitical realities. It underscores the imperative for a holistic approach in policy formulation that integrates social, environmental, and geopolitical considerations, acknowledging the integral role of trade policies in addressing contemporary global challenges.

The article is devoted to the issues of political and legal regulation of climate adaptation in the regions of the Russian Federation. Against the background of the adopted federal national adaptation plan, regions are tasked with identifying key areas of activity taking into account natural-climatic, demographic, environmental and technological specifics. The authors focus on the similarities and differences of the presented adaptation plans, emphasizing that work to improve this system continues within the framework of Russia’s international obligations. The Arctic regions deserve special attention, as they also differ from each other both in the selected climate adaptation activities (from ecology to energy saving) and in their number. This review provides a clear picture of how the federal ecological system can develop.

Business ethics plays a crucial role in developing modern business and the entire society. Thus, to develop the conceptual framework of business ethics, it is extremely interesting to study the concepts connected with it. The article identifies the main terms and concepts associated with business ethics. On this basis, the authors’ conceptual framework of business ethics was created. Within this conceptual framework, it is shown that each business unit builds and maintains relationships with stakeholders within two “circles of business ethics”: the inner circle of business ethics and the outer circle of business ethics. The article proves the hypothesis that business ethics should be considered in the context of relationships with all stakeholders, i.e., it is the ethics of business relationships with partners and competitors in the external environment, as well as within the internal environment (primarily with employees). The article will be of interest to specialists in the field of management, and corporate governance, as well as for anyone interested in the problems of corporate social management.