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A special issue of Sustainability (ISSN 2071-1050). This special issue belongs to the section "Economic and Business Aspects of Sustainability".

Deadline for manuscript submissions: closed (30 August 2023) | Viewed by 22608

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Dr. Chin-Yi Fang

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Graduate Institute of Sport, Leisure & Hospitality Management, National Taiwan Normal University, Taipei City 11718, Taiwan
Interests: environmental, social and governance; data envelopment analysis; energy efficiency
Special Issues, Collections and Topics in MDPI journals

Special Issue Information

Dear Colleagues,

The circular economy (CE) concept has gained significant attention from the political, economic and scientific fields since CE policies were announced in China in 2002 (Yuan et al., 2006) and the European Union in 2015 (European Commission, 2015).

However, Schöggl et al. (2020) indicated that there are still some definitional ambiguities and conceptual uncertainties with the rising popularity of this concept. This is also arguable for the relationship between CE and economy sustainability.

Hence, the aim of this Special Issue, entitled “Circular Economy and Economy Sustainability”, is to invite scholars to submit their papers related to the topics of the relationship between CE and the Sustainable Development Goals (SDGs), R-strategies (Reduce, Reuse and Recycle), waste management, environmental, social and governance (ESG), sustainable society, economy sustainability, resource efficiency and eco-efficiency. Methodology developments and empirical research related to CE and ESG are welcome. Systematic literature reviews about CE and economy sustainability are also welcome. Authors should clearly identify the gap of knowledge and novelty of their work as well as highlighting the main relevance of the research outcomes.

References

European Commission. (2015). Closing the loop—An EU action plan for the circular economy. Communication from the Commission to the European Parliament, the Council, the European Economic and Social Committee and the Committee of the Regions.

Schöggl, J. P., Stumpf, L., & Baumgartner, R. J. (2020). The narrative of sustainability and circular economy-A longitudinal review of two decades of research. Resources, Conservation & Recycling, 163, 105073.

Yuan, Z., Bi, J., & Moriguichi, Y. (2006). The circular economy: A new development strategy in China. Journal of Industrial Ecology, 10(1‐2), 4-8.

Dr. Chin-Yi Fang
Guest Editor

Manuscript Submission Information

Manuscripts should be submitted online at www.mdpi.com by registering and logging in to this website. Once you are registered, click here to go to the submission form. Manuscripts can be submitted until the deadline. All submissions that pass pre-check are peer-reviewed. Accepted papers will be published continuously in the journal (as soon as accepted) and will be listed together on the special issue website. Research articles, review articles as well as short communications are invited. For planned papers, a title and short abstract (about 100 words) can be sent to the Editorial Office for announcement on this website.

Submitted manuscripts should not have been published previously, nor be under consideration for publication elsewhere (except conference proceedings papers). All manuscripts are thoroughly refereed through a single-blind peer-review process. A guide for authors and other relevant information for submission of manuscripts is available on the Instructions for Authors page. Sustainability is an international peer-reviewed open access semimonthly journal published by MDPI.

Please visit the Instructions for Authors page before submitting a manuscript. The Article Processing Charge (APC) for publication in this open access journal is 2400 CHF (Swiss Francs). Submitted papers should be well formatted and use good English. Authors may use MDPI's English editing service prior to publication or during author revisions.

Keywords

circular economy
waste management
ESG
SDG
sustainability

Published Papers (10 papers)

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Research

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12 pages, 248 KiB

Open AccessArticle

Digital Economy, Industrial Structure, and Regional Trade Dependence: Mechanism Analysis Based on Chinese City Data

by Qi Luo, Dantong Zhang and Hao Wang

Sustainability 2023, 15(17), 13055; https://doi.org/10.3390/su151713055 - 30 Aug 2023

Cited by 2 | Viewed by 903

Abstract

This paper aims to study the intricate interplay among the digital economy, industrial structure, and the degree of dependence on foreign trade. We utilize panel data from 284 prefecture-level cities in China spanning from 2011 to 2019 to comprehensively evaluate the level of digital economy development and investigate its influence on regional trade dependence. Additionally, we explore the role played by the industrial structure in the mechanism analysis. Our findings reveal that the digital economy significantly reduces regional trade dependence, while industrial structure upgrading notably enhances regional trade dependence. Moreover, the industrial structure upgrading weakens the influence of the digital economy on regional trade dependence, but such impact varies across regions as the impact of digital economy on foreign trade dependence is more pronounced in inland areas. This paper also facilitates the exploration of how the digital economy empowers domestic economic growth. Full article

(This article belongs to the Special Issue Circular Economy and Economy Sustainability)

17 pages, 897 KiB

Open AccessArticle

The Role of Corporate Governance in Sustaining the Economy: Examining Its Moderating Effect on Brand Equity and Profitability in Tourism Companies

by Li-Wei Dai and Chin-Yi Fang

Sustainability 2023, 15(17), 13015; https://doi.org/10.3390/su151713015 - 29 Aug 2023

Viewed by 817

Abstract

A series of corporate embezzlement cases in Taiwan prompted the enactment of regulations by the government to enforce the corporate governance (CG) mechanism in listed companies. Prior research has given limited attention to investigating the link between CG and brand equity (BE) in the tourism sector. This study aims to use the resource-based theory and the convergence of interest hypothesis to explore the moderating role of CG in the relationship between BE and corporate profitability (CP). This investigation takes into account ten control variables encompassing company-specific factors and macroeconomic indicators. Utilizing financial data from the Taiwan Economics Journal Database (TEJ), the study covers a 16-year span (2000–2015) and examines 196 records from 32 publicly listed tourism companies. The analysis employs a fixed-effect panel regression approach, utilizing four distinct models with varying dependent variables. The results reveal a positive and significant impact of BE on CP within the context of Taiwanese-listed tourism firms. Importantly, CG is found to moderate the relationship between BE and CP. These findings offer actionable insights for management to enhance profitability by strategically improving both BE and CG practices within the tourism industry. The managerial implications are discussed in depth. Full article

(This article belongs to the Special Issue Circular Economy and Economy Sustainability)

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18 pages, 990 KiB

Open AccessArticle

Sustaining Construction Organisations in NZ: A Linear Regression Model Approach to Analysing Determinants of Their Performance

by Hamzah E. Alqudah, Mani Poshdar, Luqman Oyekunle Oyewobi, James Olabode Bamidele Rotimi and John Tookey

Sustainability 2023, 15(5), 4143; https://doi.org/10.3390/su15054143 - 24 Feb 2023

Viewed by 1035

Abstract

The characteristics, strategies, capabilities, and resources of an organisation contribute to its competitive advantage and superior performance. A model to explain performance differences in the New Zealand context will be developed by examining the relationships between construction organisational performance and these constructs. The information was obtained using a questionnaire survey. A total of 101 organisations participated in the research. For the instrument used to elicit data, the literature was used to identify indicators associated with characteristics of organisational strategies for competition, resources and capabilities, and performance of the organisation. Analyses of descriptive, parametric, and linear regression were conducted to examine the effects of these constructs on organisational performance. The results suggest that organisational characteristics are significantly associated with internal business processes, learning, and the growth perspectives of an organisation’s performance, while competitive strategies, resources, and capability perspectives are significantly related to financial perspectives. As a result, these findings add to the current discourse regarding organisational performance differentials in the construction industry. The study demonstrates that it is critical to take into account the different organisational characteristics that are implemented within organisations and how they influence organisational performance beyond rational processes. Full article

(This article belongs to the Special Issue Circular Economy and Economy Sustainability)

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11 pages, 262 KiB

Open AccessArticle

Circular Economy Implementation Based on ISO 14001 within SME Organization: How to Do It Best?

by Piotr Kafel and Paweł Nowicki

Sustainability 2023, 15(1), 496; https://doi.org/10.3390/su15010496 - 28 Dec 2022

Cited by 3 | Viewed by 2778

Abstract

The circular economy (CE) has become an important issue within the European Union due to the Green Deal regulations. A CE makes sustainable development feasible by creating value in the economy and by closing the energy and materials loops. The aim of the study is to predict the most effective functioning of CEs at the macro-level by the selection of the best possible requirements addressed for small and medium enterprises (SMEs), as an extension supplement of a voluntary environmental management system—ISO 14001. For such aim, researchers developed a two-stage Delphi study. According to the performed Delphi study, the main conclusion is that a more circular management system is possible and needed in SME organizations. Two ISO 14001 sub-requirements were considered as definitely contributing to the implementation of the CE concept at the macro- and meso-levels. Those were: The scope of the CE system and communication. The most discussed requirements that should be further studied in that context were internal audits and managerial reviews. The most difficult goals to implement by SMEs were: limiting the use of primary raw materials, striving for the implementation of climate neutrality and sustainable development as well as closing the material loop. Full article

(This article belongs to the Special Issue Circular Economy and Economy Sustainability)

15 pages, 315 KiB

Open AccessArticle

The Effects of Hosting Mega Sporting Events on Local Stock Markets and Sustainable Growth

by Stephen P. Ferris, Sulgi Koo, Kwangwoo Park and David T. Yi

Sustainability 2023, 15(1), 363; https://doi.org/10.3390/su15010363 - 26 Dec 2022

Cited by 6 | Viewed by 5750

Abstract

We examine the economic effects of the Summer and Winter Olympic Games and the FIFA World Cup on the economies of host countries. We found that in the short run, hosting the Olympic Games has a significant positive announcement effect on the host country’s equity market. Our results also revealed a positive effect on the stock market in non-G7 countries hosting a mega sporting event and an insignificant effect in G7 countries hosting such events, indicating that hosting a mega sporting event can provide additional momentum for developing or emerging economies. We did find, however, that while the countries hosting the Summer Olympic Games initially experienced significant positive GDP growth, the effect rapidly diminished after the event. Our results suggest that hosting a mega sporting event such as the Summer Olympic Games is most likely to result in a short-term positive economic momentum, however it hinders sustainable growth for the host countries’ economies. Full article

(This article belongs to the Special Issue Circular Economy and Economy Sustainability)

17 pages, 1773 KiB

Open AccessArticle

The Consumption Analysis of Economic Media at the Regional Level in a Developing Country

by Andreea Nistor and Eduard Zadobrischi

Sustainability 2022, 14(23), 16140; https://doi.org/10.3390/su142316140 - 02 Dec 2022

Cited by 1 | Viewed by 1227

Abstract

This research aims to analyze how the media can favor economic development at the regional level, observing how mass media reports on the economy are relevant to Romania’s population, and if the content provided stimulates economic development action. Mass media is one of the main channels of information for many companies, and the acquisition of correct and qualitative information generates informed decisions. Additionally, the mass media has the role of producing changes in the behavior of the consuming public, and in its culture, and can improve its educational level. Although the variety of information sources, which has been improved over time by technology, does not guarantee their use, the mass media, through the information it provides, can change attitudes and values, and lead to a higher standard of living. The present study includes both qualitative and quantitative methods, which look at the media and its effects on companies. Through two surveys, data were collected on how the population relates to the information obtained from the mass media, as well as how the mass media is used by the companies in the Northeast Region of Romania. The benefits and challenges that companies encounter while using social networks have thus been determined. Additionally, the qualitative method was used, in order to be able to observe whether there are significant differences in the use of social networks to develop an emerging business, in terms of the male-female ratio. Full article

(This article belongs to the Special Issue Circular Economy and Economy Sustainability)

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22 pages, 738 KiB

Open AccessArticle

BSC’s Perspectives Ranking towards Organizational Performance: An Empirical Study Performed with Portuguese Exporters

by Cidália Oliveira, Margarida Rodrigues, Rui Silva, Galvão Meirinhos and Mário Franco

Sustainability 2022, 14(23), 15979; https://doi.org/10.3390/su142315979 - 30 Nov 2022

Viewed by 1511

Abstract

Bearing the growing competition between organisations in mind, managers are focused on keeping on with the search for strategic alignment and performance monitoring. The literature has shed much light into the field of Management but a guide to monitor the defined strategy via Balanced Scorecard (BSC) is still lacking. Few studies have made their focus the question of which perspectives are the most relevant; it is therefore likely that there are different importance rankings between organisations with and without BSC. Highlighting the need to bring insight into this research field concerning the organizational performance measurement of the BSC, quantitative research was performed, to analyse the different rankings of the four perspectives, comparing organisations with and without BSC. The sample was composed of 107 out of the 250 major export organisations of Portugal. The outcomes confirm that the most relevant perspective is indeed the financial perspective, followed by the customer perspective, a finding unanimous in both types of organization (with and without BSC). For organizations without BSC, in third place stands the internal perspective, but, contrastingly, it comes after learning and growth perspective for organisations with BSC. The perspective of learning and growth differs in its rankings between organisations with and without BSC, as it shows up at third position for organizations with BSC, and at the fourth (last) position in organizations without BSC. This research has relevant outcomes for both managers and academia, as it is still a fertile ground, as it guides managers to identify the importance assigned by major exporters to different perspectives, in order to link its indicators. Despite having different levels of importance assigned to the third and fourth perspective, BSC is known and regarded as a meaningful management tool, even by managers who do not have BSC implemented. It conceivably still has growing possibilities in several activity areas. Full article

(This article belongs to the Special Issue Circular Economy and Economy Sustainability)

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14 pages, 897 KiB

Open AccessArticle

Social Media Use and Business Performance in SMEs: The Mediating Roles of Relational Social Commerce Capability and Competitive Advantage

by Marjeta Marolt, Hans-Dieter Zimmermann and Andreja Pucihar

Sustainability 2022, 14(22), 15029; https://doi.org/10.3390/su142215029 - 14 Nov 2022

Cited by 9 | Viewed by 3833

Abstract

Social media (SM) enables micro, small, and medium sized enterprises (SMEs) to improve brand awareness and to engage their audience, which can lead to referrals, repeat business, and increased sales. However, the existing literature offers limited insights into how the ability to leverage SM for commercial activities that are beyond transactions (relational social commerce capability) can affect performance outcomes for SMEs. Drawing on the existing literature and insights from in-depth interviews with six SME managers/owners, we developed a conceptual research model and examined it empirically by using a dataset collected from Slovenian SMEs. This study identifies relational social commerce capability and competitive advantage as important mediators when exploring the impact of SM use on business performance. More specifically, the findings reveal the mediating role of relational social commerce capability between SM use and competitive advantage, while SM use was not found to have a direct impact on competitive advantage. Furthermore, the findings illustrate business performance as a result of the competitive advantage derived from relational s-commerce capability. Full article

(This article belongs to the Special Issue Circular Economy and Economy Sustainability)

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14 pages, 970 KiB

Open AccessArticle

American and Australian Tariff Policies: Do They Rock or Tango or Roll?

by Aurélie Cassette and Etienne Farvaque

Sustainability 2022, 14(20), 12973; https://doi.org/10.3390/su142012973 - 11 Oct 2022

Viewed by 1207

Abstract

How can two countries’ trade policies be related to each other? A first possibility is that they are not related at all and that each country’s tariffs are defined under national considerations (the “rock” hypothesis). A second is that each country adapts its tariffs in reaction to what the other does (the “tango” hypothesis). A third is that both countries react to events happening in the rest of the world (the “roll” possibility). This paper examines the determinants of Australia’s and the US’ average tariff levels. Relying on historical data that cover a century (1904 to 2005), the three hypotheses are examined. The results indicate a strong long-run relation between the US and the Australian tariffs. Interrelations are also exhibited, with the US decisions influencing more strongly the Australian tariffs than the opposite. The results are important to assess the sustainability and stability of the regional trade agreements in the Pacific area. Full article

(This article belongs to the Special Issue Circular Economy and Economy Sustainability)

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Review

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22 pages, 1367 KiB

Open AccessReview

The Circular Economy and the Food System: A Review of Principal Measuring Tools

by Franco Fassio and Chiara Chirilli

Sustainability 2023, 15(13), 10179; https://doi.org/10.3390/su151310179 - 27 Jun 2023

Cited by 9 | Viewed by 2602

Abstract

With average food demand on the rise and increasing pressure on sustainability, it is essential to outline the cultural framework in which food systems are evolving, with the goal of studying solutions that target concrete actions and achieve communicable and more transparent results for the market and consumers. The objective was to analyze indicators, methods, and good practices, highlighting their positive aspects, criticalities, and possible gaps, for monitoring the impact the food system has on the environment, economy, and society from a circular economy perspective. A review of scientific literature was conducted to define the framework for implementing a circular economy in the food sector. The nations most involved in circular economy research with a focus on the food system were mapped, and circular strategies and indicators were classified according to the three different scales of implementation to which they apply: micro, meso, and macro. The literature review showed that most indicators focus on material flows and end-of-life strategies, without focusing on nutrient circularity in food systems and the circular bio-economy. This work suggests a potential and original framework for analyzing food and agriculture systems that can provide a holistic assessment of the impacts, actions, and outcomes achieved by these systems. Full article

(This article belongs to the Special Issue Circular Economy and Economy Sustainability)

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