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In the context of the 2030 Agenda for Sustainable Development by the United Nations, the functionality of financial development is undeniable in the wider economy toward Sustainable Development Goals (SDGs). Using novel panel data of 36 countries over the last decades, the study sheds light on the bi-directional nexus between financial development and green growth where human capital and education expenditure present their central roles in sustainable development. The study provides critical findings to the existing literature on climate change, environment, and sustainability. Following the empirical findings, we provide important insights to regulators, policy makers, and organizations in investigating the substantial contributions of financial development including financial markets and financial institutions where their accessibility, depth, and efficiency need a thorough consideration toward SDGs and mitigating climate change impacts worldwide. Apart from using the multidimensional proxies, the empirical findings are validated by a set of econometric approaches.

This study investigates whether the use of housing charges is an innovative or traditional instrument in financing bulk infrastructure. It develops a conceptual framework to demonstrate how housing charges are perceived as an innovative model of financing and funding bulk infrastructure. Research focuses on a case study policy pilot infrastructure project in New Zealand, with primary evidence gathered from informed professional stakeholder interviews. The findings highlight that revenue streams are the most common concern when applying the infrastructure funding and financing (IFF) model to deal with bulk infrastructure. Further, as housing charges are a new instrument generating cash flows to finance bulk infrastructure, it is found that financing infrastructure development is only innovative in terms of its mechanics, legislation and policy setting.

Purpose The purpose of this paper is to examine the relationship between house price affordability (HPA) and rental price affordability (RPA) in New Zealand. The cointegration of HPA and RPA is of particular focus given rising house prices and rising rents. Design/methodology/approach The study examines the lead-lad correlation between HPA and RPA. The method uses a generalised least square technique and the development of an ordinary least squares model. Findings The study shows that there is an existence of cointegration and unidirectional statistical causality effects between HPA and RPA across 11 regions in New Zealand. Furthermore, Auckland, Wellington and Canterbury are the three regions in which the results detect the most extreme effects amongst HPA and RPA compared to other places in the country. Extended empirical work shows interesting results that there are lead-lag effects of HPA and RPA on each other and on mortgage rates at the national scale. These effects are consistent for both methods but are changed at individual lead-lag variables and amongst different regions. Originality/value The study empirically provides useful insight for both academia and practitioners. Particularly in examining the long-run effects, cointegration and forecasting of the volatile interactions between HPA and RPA.

The relationship between risk and return is a crucial point in typical decision making, and empirical previous studies can help related stakeholders in this process. Henceforth, this chapter aims to present some fundamental theoretical concepts and interpretations of the relationship between risk and firm performance. Accordingly, this chapter offers a review of some highlighted studies in this field by presenting methodologies used and developed by several scholars. The chapter provides a timely reference source for a range of target audience from both academia and industry who have common interests to decompose and examine the relationship between risk and firm performance.

The employment of renewable resources and their association with the real economy’s growth in mitigating the problem of carbon emission risk has been debated in the literature in a specific group of countries and regions. However, their relations and effects for a better sustainable energy transmission would need further research works in an international context. Motivated by that reason, this study contributes to the ongoing literature by revisiting the effects of renewable energy consumption, electricity output, and economic activities on carbon risk using a global sample of 219 countries over the period of 1990–2020. Using GMM estimation, simultaneous quantile, and panel quantile estimations; the study finds supportive findings showing that the higher the countries with renewable energy consumption and electricity output the better the capacity those countries can mitigate the environmental degradation by reducing the amount of total carbon emission over time. However, those relations are changed when using system GMM approaches, implying the role of FDI inflows and the difference in income groups in the selected sample countries. This can be intuitively explained that emerging countries might give more priority to the economic growth receiving FDI inflows from more advanced economies and balancing the trade-off between economic growth and environmental protection, while the developed economies with their advantages in green technologies and financial flexibility might have higher advantages in acquiring a sustainable transition and maintaining the real economy’s growth without significant trade-off concerns. Finally, the study provides important policy implications and avenues for further research.

We provide an out-of-sample test on Brogaard et al. (2017)’s difference-in-differences (DID) finding that stock liquidity affects US firm Expected Default Frequency (EDF), in the context of an emerging market. With daily transaction data, we reaffirm the role of stock liquidity on reducing firms' default risk in the US and its extended applicability to Vietnam. Our results highlight another benefit from promoting stock market liquidity as it could allow for sustainable development of an emerging equity market.