VGTU Journals (Vilnius Gediminas Technical University - Vilnius Tech)
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The influence of digital finance development on bank efficiency: evidence from China
No full textDigital finance has enhanced financial service accessibility, reduced costs, and disrupted traditional business models. Based on the functional view of finance, a theoretical model including commercial banks, households, and enterprises is constructed to analyze the impact of digital finance on bank efficiency and explore its mechanisms through liabilities and assets. In this paper, a three-dimensional framework including digital financial foundation, digital banking business and new financial services is constructed and a digital finance index is calculated to represent the development of digital finance at the city level. Then, using the stochastic frontier analysis (SFA) method, the efficiency of commercial banks is measured with the data of Chinese banks between 2011 and 2020. This empirical study shows that digital finance significantly improved the efficiency of China’s commercial banks. For every extra unit of digital finance, bank’s cost efficiency will increase by 0.72% and its revenue efficiency will increase by 3.17%. This conclusion is still valid after multiple robustness checks, including substitution of explanatory variables, cutting samples and regression with instrumental variables. These findings also indicate that the influence of digital finance on the change in bank efficiency varies across different regions, scales, and types of ownership, among which high GDP regions, large-scale banks, and state-owned banks have a relatively strong effect on efficiency. A further analysis of the mechanism shows that digital finance affects liability structure of banks, i.e., banks are usually inclined to have a smaller proportion of interbank liabilities as digital finance advances. Concurrently, digital finance also alters banking risks, which in turn affects their asset side. The core process through which digital finance enhances banking efficiency is more closely connected to the strong optimization impact of digital finance on the liability side than to weakening effect on the asset side.
First published online 23 December 202
Variable s-step CGNR method for solving the matrix equation AXB = C arising in image processing
No full textThe matrix equation is widely utilized in signal and image processing. In this paper, we present a variable s-step algorithm based on the CGNR method for solving this matrix equation by employing normalization techniques. This algorithm is subsequently enhanced through the application of s-step and regularization methods. By varying the number of basic matrices involved (denoted as s), both the accuracy and speed of the algorithm are improved. The proposed algorithm effectively computes solutions to the matrix equation, demonstrating superior performance when the problem matrices are symmetric. Finally, we investigate the performance and efficacy of these techniques through several numerical examples
Analysis of the Darcy-Brinkman flow with viscous dissipation and non-homogeneous thermal boundary condition
No full textThis study investigates the steady-state Darcy-Brinkman flow within a thin, saturated porous domain, focusing on the effects of viscous dissipation and non-homogeneous boundary condition for the temperature. Employing asymptotic techniques with respect to the domain’s thickness, we rigorously derive the simplified coupled model describing the fluid flow. The mathematical analysis is based on deriving the sharp a priori estimates and proving the compactness results of the rescaled functions. The resulting limit model incorporates contributions of viscous dissipation and thermal boundary conditions and thus could prove useful in the engineering applications involving porous media
Rock subculture in Žilvinas Glušinskas’ photographs: building communal capital through creative documentary
No full textThe historical background of the rock subculture’s political engagement and cultural relevance in Lithuania, along with photography’s role in shaping and establishing society’s collective identity, suggests that the study of contemporary photography related to this subculture may offer insights into broader societal developments and photography’s function within them. Building on this premise, the article explores Žilvinas Glušinskas’ photography series The Bash at Mekanikas’ Fazenda (orig. in Lithuanian (irregular language use with jargon): Tūsas pas Mekaniką fazendoje, 2019–2024) with the aim of defining how photography represents and shapes a specific rock subculture community and its connection to wider society today. To address this, the study analyses the documentary, artistic and cultural aspects of Glušinskas’ works, as well as the different contexts and media through which they are disseminated. The research is based on sociologist Sarah Thornton’s notion of subcultural capital, which in turn stems from the concept of cultural capital defined by sociologist Pierre Bourdieu. The article concludes with a statement that creativity in photography, combined with its documentary value and the dissemination of photographs through mass and micro media, becomes a tool for generating communal capital – a symbolic meaning shared by a group of people, binding them into a community in a diverse and fragmented society
Everyday Urbanism in Lithuanian towns: the case of old community gardens in Grigiškės and Plungė
No full textThis paper examines old community gardens as an example of Everyday Urbanism in two small Lithuanian towns. While academic interest in newly created community gardens in Central and Eastern European countries is growing, old community gardens remain largely absent from academic discourse. To analyse the social and spatial factors essential to their development in Grigiškės and Plungė, scientific literature, statistical data and land use maps from socialist period master plans were used. Additionally, contemporary master plans and other urban planning documents were analysed, alongside interviews, to discuss the current context of old community gardens and explore their potential future trajectories. The results indicate that old community gardens were established during the socialist period, primarily due to the rural backgrounds of new urban residents. These gardens were created informally on vacant land next to blocks of flats, land that has remained undeveloped to this day due to multiple factors throughout the 20th and 21st centuries. Although they are not officially recognised, the future development of old community gardens in Grigiškės and Plungė may differ based on varying attitudes from local government and their specific locations. These gardens exemplify the diverse and informal nature of Everyday Urbanism, highlighting the need for a more flexible approach to their preservation and integration into urban planning
On the impact of the COVID-19 pandemic on the household’s consumption and labor supply: theory and application
No full textThe COVID-19 pandemic and the corresponding regulation measures carried out to curb it have had a strong negative impact on the whole economy, and household consumption has been seriously affected. A large part of the drop in consumption is due to the reduction of household income, which is mainly caused by the labor supply loss during the pandemic. To present the mechanism of the impact of the pandemic on consumption, this study constructs a novel theoretical model. Two hypotheses about the pandemic’s impact on labor supply are proposed and empirically tested. Subsequently, a comparative static analysis is carried out to determine the numerical mechanism of the pandemic’s impact on household consumption. In addition, the model is also empirically tested and further modified for application, enabling the studies of both a realistic simulation and a policy simulation. This study finds that the labor supply of households has been affected during the pandemic, and there is a mediating effect channel through the regulation stringency. The epidemic severity and regulation policies have a negative impact on household consumption, in turn, will raise the saving rate of households. The income effect of the two on consumption accounts for 32% and 44% of the total effect respectively.
First published online 05 September 202
Promoting economic recovery: the silver lining of digital transformation and corporate innovation
No full textWith the unstable international environment, the global economy has experienced a slowcession. Previous research on digital innovation in firms has often neglected the impact of macroeconomic cycles. This paper examines the moderating effect of the economic slowcession in the digital transformation and corporate innovation nexus, by using the China’s A-share listed companies’data during 2001 and 2021. The empirical results find that the positive impact of digitization on innovation is countercyclical. During recession, the positive impact of digital transformation on innovation is even greater compared to economic prosperity. Grouped regression results indicate that State-owned listed companies, Non-high tech companies, Large-scale companies, and Eastern companies are more affected by the positive moderating effect of the recession. This indicates that getting out of recession requires more aggressive support of these companies, which promotes innovation and economic recovery. This study provides a useful reference for countries in recession and provides an important complement to traditional economic cycle theory and innovation cycle theory.
First published online 15 November 202
An analysis of the influence and mechanisms of the digital economy on the disparities in urban total factor productivity
No full textThe influence of the digital economy (DE) on the coordination of the urban total factor productivity (TFP) gap and its underlying mechanisms were investigated. The significance of this research mainly originates from its contribution to the theoretical understanding of regional coordination mechanisms, offering new insights into how the digital economy internally regulates disparities in regional TFP. Key findings include: (1) The dynamic analysis reveals that during the early stages of DE, the urban TFP gap expands significantly. However, as the digital economy matures, it contributes to reducing this gap. (2) Quantile regression results indicate that the digital economy substantially narrows the TFP gap primarily in regions with the most pronounced disparities (comprising 20% of the sample), while this effect is not evident in the remaining 80% of regions. (3) Enhancing the level of marketization of factors significantly strengthens the digital economy’s ability to reduce the TFP gap, and improvements in resource allocation also contribute to this effect.
First published online 06 June 202
Fractional multiwavelet methods for solving spatiotemporal fractional diffusion equations with non-smooth solutions
No full textThis introduces a new method that effectively solves spatiotemporal fractional diffusion equation(FDE) using fractional Lagrange interpolation and fractional multiwavelets. The method effectively addresses situations with non-smooth solutions. The approach begins by discretizing the time variable t using the fractional piecewise parabolic Lagrange interpolation method. For the spatial variables, we construct fractional multiwavelets. Through the least residue method, we obtain approximate solutions, while also conducting convergence analysis. Numerical demonstrations validate the high accuracy achieved by the proposed method, notably showcasing the better approximation capability of fractional polynomials compared to their integer counterparts
Smart wireless low power valve positioner dedicated for use in aviation laboratories
No full textTesting aircraft components in laboratories is crucial phase of developing new technologies in aviation. Component testing helps to find design mistakes or check durability and efficiency, which increase safety. Despite such an important role of laboratory tests in Aviation, valve positioners with insufficient capabilities are often used during the research. In many cases range of tests are limited because too low flow or pressure control resolution. Moreover, valves with valve positioners are moved between test rigs and change placement in the test room which generate laborious work with wiring and configuration. This paper shows the way for increasing capabilities of laboratory control system with use of smart, wireless, battery powered valve positioners. Following sections show control algorithm, PCB design and test results. Research shows that designed valve positioner controller enables the system to reach control accuracy many times higher than typical valve positioners available on the market and could operate directly with external sensors. Moreover, low power design approach enables valve positioner to operate for months without battery replacement. In proposed approach, positioner could be controlled remotely through Bluetooth Low Energy and could work as a part of laboratory IoT (Internet of Things) network