Journals Published by Vilnius Tech
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Tailoring fund selection to diverse investors: integrating financial and sustainability performance
Get PDFThis study explores the integration of financial and Environmental, Social, and Governance (ESG) criteria in the evaluation of investment funds within the energy equity sector, considering both short and long-term investor perspectives. Based on the Technique for Order Preference by Similarity to Ideal Solution (TOPSIS), a multi-criteria decision model, this analysis includes scenarios tailored to investors prioritizing financial returns and those focused on sustainability. The findings reveal that investors’ subjective preferences influence fund rankings, highlighting the need for adaptive classification systems. Finally, a customizable investment tool aligned with diverse investor priorities is proposed
East-West risk connectedness in the European banking sector
Get PDFThis study examines the risk spillover dynamics between banks in Central and Eastern Europe (CEE) and Western Europe (WE) across 30 banking groups from 2014 to 2023, segmented into three distinct periods: pre-COVID-19, during COVID-19, and the Russo-Ukrainian conflict. The key contribution of the paper lies in combining a cross-regional perspective with a longer time horizon, covering major shocks. Utilizing the Diebold-Yilmaz interconnectedness index model, we analyze volatilities derived from daily stock prices to identify key players in the transmission and absorption of financial shocks. Our findings, supported by existing literature, reveal a strong interconnectedness between the two parts of Europe. WE banks are more likely to be shock transmitters, while CEE banks play the role of shock receivers. However, during the Russo-Ukrainian war, CEE banks appeared more among the net transmitting banks. Although one of the main features of the CEE financial system is its dependence on WE, a bank nationalism has also emerged in some countries. This may nuance the dynamics of CEE financial stability: reducing the magnitude of WE shock, but in the case of CEE-specific shocks, the possibility of risk transfer (dispersion) is also weakened
Framework of managerial interventions for the enhancement of port organizational ecosystem’s resilience
Get PDFThe purpose of this research is to present a conceptual model of Port Organizational Ecosystem (POE) resilience and to develop a framework of managerial interventions to enhance POE resilience in the conditions of high uncertainties. Utilizing a mixed-methods approach, data were collected through focus group interviews and analysed using thematic and statistical methods. The analysis identified key challenges, including global supply chain disruptions, technological advancements, and governance-related issues, emphasizing the critical role of adaptable governance frameworks in mitigating these challenges. Findings reveal that while technological innovations pose challenges, they also offer tools to enhance operational sustainability and resilience. The research highlights managerial weaknesses that complicate these challenges, underscoring the need for managerial interventions focusing on engagement, diversification, and compliance. Research implications suggest the necessity for adaptive leadership and governance structures that promote inclusivity and strategic foresight. Practically, this paper outlines a framework of managerial interventions for improving POE resilience, offering valuable insights for port authorities to integrate worldwide best practices into their operations. This study contributes original insights by linking governance patterns with resilience enhancement, providing a structured approach to understanding and improving POE resilience in the global maritime landscape
Developing Alsim AL250 based eVTOL flight simulator
Get PDFA novel eVTOL aircraft simulator was developed for research and teaching purposes. The simulator integrated MATLAB/Simulink flight dynamics model with Alsim AL250 FNPT II flight simulator. Simplified version of the Neoptera’s eOpter eVTOL aircraft was used as a test case to verify the flight simulator. It was shown that the aircraft responded as expected by the pilot and that the traditional handling qualities metrics and VTOL requirements (MIL-F-83300, MIL-F-8785C, EASA-SC-VTOL-02) could be used along the flight simulator to assess aircraft being tested. Take-off showed an increase in climb rate as well as overshoot of the target altitude with higher RPM setting. Qualitative assessment of transition showed suitable stability and control feel for the eVTOL to be operated by a single pilot. Quantitative assessment of the longitudinal manoeuvring characteristics showed Level 2 SPPO handling qualities for the tested eVTOL aircraft, qualitative definition of which agreed with the pilot’s opinion. It was also shown that increasing initial velocity for the SPPO mode test increased the mode’s natural frequency, but almost did not affect the damping ratio, which is within the expectations
Assessment of emergency landing options: case study of Riga flight information region
Get PDFThe aim of this research, titled “Assessment of Emergency Landing Options: Case Study of Riga Flight Information Region” is to explore and analyze the feasibility of emergency landings within the Riga FIR and evaluate the necessity of an additional runway. The theoretical section of the study covers various types of aviation accidents and emergency landing procedures. The empirical part includes a thorough analysis of meteorological aerodrome reports (METAR) to assess whether weather conditions are conducive to safe landings at Lielvarde military airfield. Based on the findings, conclusions are drawn regarding the need for an additional runway. The study also examines other potential airfields, not listed in the Republic of Latvia’s Aeronautical Information Publications, which could serve as emergency landing sites. To enhance pilots’ situational awareness, digital maps have been developed to display these alternative airfields
Promoting economic recovery: the silver lining of digital transformation and corporate innovation
Get PDFWith 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
Can talent allocation drive transformation and upgrading of export trade through technological innovation under low-carbon background
Get PDFUnder the low-carbon background, regional talent allocation and transformation and upgrading of export trade are all important issues of common concern among academic circles in the stage of sustainable economic and environmental development. This paper explores talent allocation’s impact on the transformation and upgrading of export trade. Based on the results, the improvement in regional talent allocation level has significantly increased the percentage of regional general trade exports. It is conducive to the trans- formation and upgrading of export trade, and such an influence also shows the nonlinear characteristic of increasing “marginal effect”. This conclusion still stands after a series of robustness tests. According to the influencing mechanism test results, the technological innovation brought by the improvement in regional talent allocation level is an important transmission channel for such improvement to facilitate the transformation and upgrading of export trade. Based on the multi-dimensional analysis of the results of transformation and upgrading of export trade, regional talent allocation has significantly enhanced the complexity of exported technologies and actively promoted innovation among exporters. The research provides important inspiration for further promoting the structural reform of regional talent allocation and facilitating the transformation and upgrading of export trade patterns.
First published online 12 February 202
The technology innovation paradox in Asia’s leading innovative economies: the importance of renewable energy and green financing
Get PDFThe present study investigates the influence of green energy, technological innovation, financial development, natural resources, trade, and economic growth on environmental quality in four technologically innovative economies in Asia using data from 1990 to 2021. By adopting a holistic approach, it addresses gaps in the literature that often focus on isolated factors or regions. The findings provide actionable insights for policymakers to reconcile economic growth with ecological sustainability, offering a blueprint for sustainable development in Asia’s technological hubs. The Panel ARDL approach is used to evaluate the impacts in both the long and short term. Furthermore, we performed robustness tests using panel least squares, panel FMOLS, and panel DOLS techniques. The study’s findings indicate that technological innovation, financial development, and trade all have a long-term positive impact on environmental quality in Asia’s technologically innovative economies. However, green energy, natural resources, and economic progress had a negative impact on CO2 emissions. The findings from panel least squares, panel FMOLS, and DOLS also showed that technological innovation, financial development, and trade enhance the environmental quality. This investigation aims to assist policymakers in creating comprehensive plan that promotes environmental sustainability via technological improvements and renewable energy sources, with an emphasis on economic growth.
First publihed online 05 June 202
Unlocking the inverted-U: exploring the threshold impact of population aging on income inequality dynamics
Get PDFAs population aging unfolds at an unprecedented scale worldwide, its impact on income inequality continues to be contentious, with no clear consensus in the literature. Rather than viewing the aging-inequality linkage as solely positive or negative, this paper introduces a modified life cycle with precautionary behavior, indicating that inequality may initially worsen with aging before stabilizing at later stages. The Dynamic Panel Threshold Kink (DPTK) regression method is used to identify the threshold point of aging intensity at which the inequality begins to moderate following a period of intensification. The findings reveal a threshold aging intensity of 1.4%, which supports an inverted-U characterization of the aging-inequality nexus. The results suggest that liberalizing trade and improving government redistribution can assist countries experiencing a rise in inequality. At the same time, the prevalence of precautionary effects due to population aging may offer a natural defense against the detrimental effects of inequality over time.
First published online 05 June 202
An exploratory study of high-educated poverty through machine learning approach: a case study of East Java, Indonesia
Get PDFPurpose – the purpose of the article is to compare the importance factors for high-educated poverty modeling in the four cultural regions of East Java.
Research methodology – using data from the Indonesian National Survey, this study employs Random Forest (RF), Extreme Gradient Boosting (XGBoost), Artificial Neural Network (ANN), and K-Nearest Neighbor (KNN) algorithms as classification methods in machine learning.
Findings – the analysis results show that all agorithms has high accuracy with XGboost as the best performing model. The number of household members and the use of internet technology are among the most important variables affecting high-educated poverty in each cultural region in East Java.
Research limitations – the research was exclusively carried out in East Java, Indonesia, potentially restricting its applicability to other geographical areas or nations. Additionally, it relied on cross-sectional data, implying that a causal relationship between the independent and dependent variables cannot be inferred.
Practical implications – based on the results of this analysis, it is recommended that the government and related parties focus more on improving access to education and the internet in cultural areas in East Java.
Originality/Value – this study addresses a significant knowledge gap by exploring regional variations in the factors affecting high-educated poverty, emphasizing the importance of tailored strategies for each cultural region in East Java.