{"title":"Does ESG and Digital Transformation affects Corporate Sustainability? The Moderating role of Green Innovation","authors":"Chenglin Qing, Shanyue Jin","doi":"arxiv-2311.18351","DOIUrl":"https://doi.org/arxiv-2311.18351","url":null,"abstract":"Recently, environmental, social, and governance (ESG) has become an important\u0000factor in companies' sustainable development. Artificial intelligence (AI) is\u0000also a core digital technology that can create innovative, sustainable,\u0000comprehensive, and resilient environments. ESG- and AI-based digital\u0000transformation is a relevant strategy for managing business value and\u0000sustainability in corporate green management operations. Therefore, this study\u0000examines how corporate sustainability relates to ESG- and AI-based digital\u0000transformation. Furthermore, it confirms the moderating effect of green\u0000innovation on the process of increasing sustainability. To achieve the purpose\u0000of this study, 359 data points collected for hypothesis testing were used for\u0000statistical analysis and for mobile business platform users. The following\u0000conclusions are drawn. (1) ESG activities have become key variables that enable\u0000sustainable corporate growth. Companies can implement eco-friendly operating\u0000processes through ESG activities. (2) This study verifies the relationship\u0000between AI-based digital transformation and corporate sustainability and\u0000confirms that digital transformation positively affects corporate\u0000sustainability. In addition, societal problems can be identified and\u0000environmental accidents prevented through technological innovation. (3) This\u0000study does not verify the positive moderating effect of green innovation;\u0000however, it emphasizes its necessity and importance. Although green innovation\u0000improves performance only in the long term, it is a key factor for companies\u0000pursuing sustainable growth. This study reveals that ESG- and AI-based digital\u0000transformation is an important tool for promoting corporate sustainability,\u0000broadening the literature in related fields and providing insights for\u0000corporate management and government policymakers to advance corporate\u0000sustainability.","PeriodicalId":501487,"journal":{"name":"arXiv - QuantFin - Economics","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2023-11-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138535153","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"How Generative-AI can be Effectively used in Government Chatbots","authors":"Zeteng Lin","doi":"arxiv-2312.02181","DOIUrl":"https://doi.org/arxiv-2312.02181","url":null,"abstract":"With the rapid development of artificial intelligence and breakthroughs in\u0000machine learning and natural language processing, intelligent\u0000question-answering robots have become widely used in government affairs. This\u0000paper conducts a horizontal comparison between Guangdong Province's government\u0000chatbots, ChatGPT, and Wenxin Ernie, two large language models, to analyze the\u0000strengths and weaknesses of existing government chatbots and AIGC technology.\u0000The study finds significant differences between government chatbots and large\u0000language models. China's government chatbots are still in an exploratory stage\u0000and have a gap to close to achieve \"intelligence.\" To explore the future\u0000direction of government chatbots more deeply, this research proposes targeted\u0000optimization paths to help generative AI be effectively applied in government\u0000chatbot conversations.","PeriodicalId":501487,"journal":{"name":"arXiv - QuantFin - Economics","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2023-11-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138535140","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Christian Møller Dahl, Nadja van 't Hoff, Giovanni Mellace, Sinne Smed
{"title":"Nudging Nutrition: Lessons from the Danish \"Fat Tax\"","authors":"Christian Møller Dahl, Nadja van 't Hoff, Giovanni Mellace, Sinne Smed","doi":"arxiv-2312.11481","DOIUrl":"https://doi.org/arxiv-2312.11481","url":null,"abstract":"In October 2011, Denmark introduced the world's first and, to date, only tax\u0000targeting saturated fat. However, this tax was subsequently abolished in\u0000January 2013. Leveraging exogenous variation from untaxed Northern-German\u0000consumers, we employ a difference-in-differences approach to estimate the\u0000causal effects of both the implementation and repeal of the tax on consumption\u0000and expenditure behavior across eight product categories targeted by the tax.\u0000Our findings reveal significant heterogeneity in the tax's impact across these\u0000products. During the taxed period, there was a notable decline in consumption\u0000of bacon, liver sausage, salami, and cheese, particularly among low-income\u0000households. In contrast, expenditure on butter, cream, margarine, and sour\u0000cream increased as prices rose. Interestingly, we do not observe any difference\u0000in expenditure increases between high and low-income households, suggesting\u0000that the latter were disproportionately affected by the tax. After the repeal\u0000of the tax, we do not observe any significant decline in consumption. On the\u0000contrary, there was an overall increase in consumption for certain products,\u0000prompting concerns about unintended consequences resulting from the brief\u0000implementation of the tax.","PeriodicalId":501487,"journal":{"name":"arXiv - QuantFin - Economics","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2023-11-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138817704","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
David Kröger, Jan Peper, Nils Offermann, Christian Rehtanz
{"title":"Optimizing the Generation and Transmission Capacity of Offshore Wind Parks under Weather Uncertainty","authors":"David Kröger, Jan Peper, Nils Offermann, Christian Rehtanz","doi":"arxiv-2311.17981","DOIUrl":"https://doi.org/arxiv-2311.17981","url":null,"abstract":"Offshore wind power in the North Sea is considered a main pillar in Europe's\u0000future energy system. A key challenge lies in determining the optimal spatial\u0000capacity allocation of offshore wind parks in combination with the dimensioning\u0000and layout of the connecting high-voltage direct current grid infrastructure.\u0000To determine economically cost optimal configurations, we apply an integrated\u0000capacity and transmission expansion problem within a pan-European electricity\u0000market and transmission grid model with a high spatial and temporal\u0000granularity. By conducting scenario analysis for the year 2030 with a gradually\u0000increasing CO2 price, possible offshore expansion paths are derived and\u0000presented. Special emphasis is laid on the effects of weather uncertainty by\u0000incorporating data from 21 historical weather years in the analysis. Two key\u0000findings are (i) an expansion in addition to the existing offshore wind\u0000capacity of 0 GW (136 EUR/tCO2), 12 GW (159 EUR/tCO2) and 30 GW (186 EUR/tCO2)\u0000dependent on the underlying CO2 price. (ii) A strong sensitivity of the results\u0000towards the underlying weather data highlighting the importance of\u0000incorporating multiple weather years.","PeriodicalId":501487,"journal":{"name":"arXiv - QuantFin - Economics","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2023-11-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138535147","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Analyzing the Impact of Tax Credits on Households in Simulated Economic Systems with Learning Agents","authors":"Jialin Dong, Kshama Dwarakanath, Svitlana Vyetrenko","doi":"arxiv-2311.17252","DOIUrl":"https://doi.org/arxiv-2311.17252","url":null,"abstract":"In economic modeling, there has been an increasing investigation into\u0000multi-agent simulators. Nevertheless, state-of-the-art studies establish the\u0000model based on reinforcement learning (RL) exclusively for specific agent\u0000categories, e.g., households, firms, or the government. It lacks concerns over\u0000the resulting adaptation of other pivotal agents, thereby disregarding the\u0000complex interactions within a real-world economic system. Furthermore, we pay\u0000attention to the vital role of the government policy in distributing tax\u0000credits. Instead of uniform distribution considered in state-of-the-art, it\u0000requires a well-designed strategy to reduce disparities among households and\u0000improve social welfare. To address these limitations, we propose an expansive\u0000multi-agent economic model comprising reinforcement learning agents of numerous\u0000types. Additionally, our research comprehensively explores the impact of tax\u0000credit allocation on household behavior and captures the spectrum of spending\u0000patterns that can be observed across diverse households. Further, we propose an\u0000innovative government policy to distribute tax credits, strategically\u0000leveraging insights from tax credit spending patterns. Simulation results\u0000illustrate the efficacy of the proposed government strategy in ameliorating\u0000inequalities across households.","PeriodicalId":501487,"journal":{"name":"arXiv - QuantFin - Economics","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2023-11-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138535156","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"El tequila para consumo nacional como una ventana de oportunidades para el pequeño productor agavero","authors":"Guillermo José Navarro del Toro","doi":"arxiv-2311.17193","DOIUrl":"https://doi.org/arxiv-2311.17193","url":null,"abstract":"The objective of this research was to determine the degree of knowledge that\u0000the inhabitants of the Guadalajara Metropolitan Area (made up of the\u0000municipalities Guadalajara, Tlajomulco de Z'u~niga, Tlaquepaque, Zapopan and\u0000Tonal'a) had regarding tequila and the brands produced in Los Altos of\u0000Jalisco. For this, a survey consisting of five questions was designed, which\u0000was applied in the central square, center or z'ocalo of each municipality. The\u0000results show that the big brands, when acquired by international companies,\u0000focused their attention on capturing the consumer in international markets,\u0000since the prices of the same products that they export have been out of the\u0000pocket of those who like That drink, so it could be considered that the big\u0000brands, have left the national market a little behind, of course they did not\u0000abandon it completely, but it stopped being their main objective. Therefore, it\u0000can be concluded that the national market is the window of opportunity to join\u0000the small and still unknown producers to work together and in a grouped way,\u0000they are able to standardize a series of products that being of the same\u0000quality and same packaging, they can cover the national market, and perhaps, in\u0000the future, become a large company distributed throughout the territory and\u0000begin the export process only with national capital.","PeriodicalId":501487,"journal":{"name":"arXiv - QuantFin - Economics","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2023-11-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138535232","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Epistemic Limits of Empirical Finance: Causal Reductionism and Self-Reference","authors":"Daniel Polakow, Tim Gebbie, Emlyn Flint","doi":"arxiv-2311.16570","DOIUrl":"https://doi.org/arxiv-2311.16570","url":null,"abstract":"The clarion call for causal reduction in the study of capital markets is\u0000intensifying. However, in self-referencing and open systems such as capital\u0000markets, the idea of unidirectional causation (if applicable) may be limiting\u0000at best, and unstable or fallacious at worst. In this research, we critically\u0000assess the use of scientific deduction and causal inference within the study of\u0000empirical finance and econometrics. We then demonstrate the idea of competing\u0000causal chains using a toy model adapted from ecological predator/prey\u0000relationships. From this, we develop the alternative view that the study of\u0000empirical finance, and the risks contained therein, may be better appreciated\u0000once we admit that our current arsenal of quantitative finance tools may be\u0000limited to ex post causal inference under popular assumptions. Where these\u0000assumptions are challenged, for example in a recognizable reflexive context,\u0000the prescription of unidirectional causation proves deeply problematic.","PeriodicalId":501487,"journal":{"name":"arXiv - QuantFin - Economics","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2023-11-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138535092","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Climate, Crops, and Postharvest Conflict","authors":"David Ubilava","doi":"arxiv-2311.16370","DOIUrl":"https://doi.org/arxiv-2311.16370","url":null,"abstract":"I present new evidence of the effects of climate shocks on political violence\u0000and social unrest. Using granular conflict and weather data covering the entire\u0000continent of Africa from 1997 to 2023, I find that exposure to El Ni~no events\u0000during the crop-growing season decreases political violence targeted at\u0000civilians during the early postharvest season. A moderate-strength El Ni~no\u0000event results in a three percent reduction in political violence with civilian\u0000targeting in croplands compared with the benchmark levels of this conflict\u0000evaluated at average cropland size and average growing-season exposure of local\u0000weather to El Ni~no shocks. Because this effect manifests itself only in cells\u0000with crop agriculture and only during the postharvest season supports the idea\u0000that agriculture is the key channel and rapacity is the key motive connecting\u0000climatic shocks and political violence. Reassuringly, the magnitude of the\u0000estimated effect increases substantially, in one instance more than doubles,\u0000when I use subsets of data that are better suited for unveiling the proposed\u0000mechanism. This study advances knowledge of the relationship between climate\u0000and conflict. And because El Ni~no events can be predicted several months in\u0000advance, these findings can contribute to creating a platform for early warning\u0000of political violence, specifically in predominantly agrarian societies in\u0000Africa.","PeriodicalId":501487,"journal":{"name":"arXiv - QuantFin - Economics","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2023-11-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138535084","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Advancing AI Audits for Enhanced AI Governance","authors":"Arisa Ema, Ryo Sato, Tomoharu Hase, Masafumi Nakano, Shinji Kamimura, Hiromu Kitamura","doi":"arxiv-2312.00044","DOIUrl":"https://doi.org/arxiv-2312.00044","url":null,"abstract":"As artificial intelligence (AI) is integrated into various services and\u0000systems in society, many companies and organizations have proposed AI\u0000principles, policies, and made the related commitments. Conversely, some have\u0000proposed the need for independent audits, arguing that the voluntary principles\u0000adopted by the developers and providers of AI services and systems\u0000insufficiently address risk. This policy recommendation summarizes the issues\u0000related to the auditing of AI services and systems and presents three\u0000recommendations for promoting AI auditing that contribute to sound AI\u0000governance. Recommendation1.Development of institutional design for AI audits.\u0000Recommendation2.Training human resources for AI audits. Recommendation3.\u0000Updating AI audits in accordance with technological progress. In this policy recommendation, AI is assumed to be that which recognizes and\u0000predicts data with the last chapter outlining how generative AI should be\u0000audited.","PeriodicalId":501487,"journal":{"name":"arXiv - QuantFin - Economics","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2023-11-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138535149","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Application of Process Mining and Sequence Clustering in Recognizing an Industrial Issue","authors":"Hamza Saad","doi":"arxiv-2311.15362","DOIUrl":"https://doi.org/arxiv-2311.15362","url":null,"abstract":"Process mining has become one of the best programs that can outline the event\u0000logs of production processes in visualized detail. We have addressed the\u0000important problem that easily occurs in the industrial process called\u0000Bottleneck. The analysis process was focused on extracting the bottlenecks in\u0000the production line to improve the flow of production. Given enough stored\u0000history logs, the field of process mining can provide a suitable answer to\u0000optimize production flow by mitigating bottlenecks in the production stream.\u0000Process mining diagnoses the productivity processes by mining event logs, this\u0000can help to expose the opportunities to optimize critical production processes.\u0000We found that there is a considerable bottleneck in the process because of the\u0000weaving activities. Through discussions with specialists, it was agreed that\u0000the main problem in the weaving processes, especially machines that were\u0000exhausted in overloading processes. The improvement in the system has measured\u0000by teamwork; the cycle time for process has improved to 91%, the worker's\u0000performance has improved to 96%,product quality has improved by 85%, and lead\u0000time has optimized from days and weeks to hours.","PeriodicalId":501487,"journal":{"name":"arXiv - QuantFin - Economics","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2023-11-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138535082","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}