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House price fluctuations send vital signals to many parts of the economy, and long-term predictions of house prices are of great interest to governments and property developers. Although predictive models based on economic fundamentals are widely used, the common requirement for such studies is that underlying data are stationary. This paper aims to demonstrate the usefulness of alternative filtering methods for forecasting house prices.

We specifically focus on exponential smoothing with trend adjustment and multiplicative decomposition using median house prices for Sydney from Q3 1994 to Q1 2017. The model performance is evaluated using out-of-sample forecasting techniques and a robustness check against secondary data sources.

Multiplicative decomposition outperforms exponential smoothing at forecasting accuracy. The superior decomposition model suggests that seasonal and cyclical components provide important additional information for predicting house prices. The forecasts for 2017–2028 suggest that prices will slowly increase, going past 2016 levels by 2020 in the apartment market and by 2022/2023 in the detached housing market.

We demonstrate that filtering models are simple (univariate models that only require historical house prices), easy to implement (with no condition of stationarity) and widely used in financial trading, sports betting and other fields where producing accurate forecasts is more important than explaining the drivers of change. The paper puts forward a case for the inclusion of filtering models within the forecasting toolkit as a useful reference point for comparing forecasts from alternative models.

To the best of the authors’ knowledge, this paper undertakes the first systematic comparison of two filtering models for the Sydney housing market.

The study aims to assess military procurement strategy in NATO countries labelled as emerging markets (Czechia, Slovakia and Lithuania) and capitalist Norway, which vary in national culture as indicated by the Hofstede Culture Compass.

This comparative case study analyses the procurement of a simple, mass-produced, off-the-shelf military product (FN Herstal MINIMI gun) in four small but very economically free countries from 2008 to 2023. The study answers the research question of how the unit price of MINIMI guns varies across post-communist and historical NATO countries distinguished by the variables operationalising national culture.

The general disability of the government to control corruption deviates the strategy of military procurement in post-communist defence institutions from an effective strategy of liberal capitalism, minimising the unit price and risks (Norway), to an odd strategy maximising the unit price and risks by preferring middlemen as agent of hidden agenda (Czechia).

Some defence institutions in post-communist countries may be burdened by legislature capture, and detailed research is needed to determine this.

The authors argue that national culture may contribute to significant goal displacement in the procurement strategy adopted by the government in an economically liberal state.

Without perfecting the control of corruption in post-communist defence institutions, the NATO burden-sharing debate on 2% of GDP will remain controversial.

With variables characterising national culture and the government’s ability to control corruption, the study elucidates a slow pace of convergence of post-communist countries to NATÓs values and procedures.

This study investigates the relationship between foreign ownership, earnings quality and overinvestment in Japanese zombie firms.

The study makes use of data from Japanese firms listed on the first section of the Tokyo Stock Exchange from 2009 to 2019. The study employs logistic and multinomial logistic models to test whether the overinvestment behavior of zombie firms is mitigated by foreign shareholdings and earnings quality.

The results show that (1) zombie firms tend to overinvest; (2) an increase in foreign ownership mitigates the overinvestment of zombie firms and (3) the mitigation of zombie firms' overinvestment by foreign ownership is stronger with higher earnings quality.

This study extends the discussion of earnings quality and investment efficiency to the zombie firm setting. Previous studies in accounting suggest that high earnings quality enhances firms' investment efficiency. The findings suggest that both a change in ownership structure and high-quality accounting information are necessary to mitigate the inefficiency of zombie firms.

This chapter presents a comprehensive framework for advancing smart cities in Bahrain, focusing on innovation, development, transformation, and prosperity. The framework integrates technological advancements with sustainable practices to enhance societal well-being, economic growth, and overall development. It aligns with Bahrain’s 2030 Vision, aiming to create Next Generation Smart Cities. The chapter emphasizes enhancing social impact, healthcare access, and promoting a healthy lifestyle, driving economic growth through digital infrastructure, and promoting sustainability through renewable energy and smart urban planning. It provides a roadmap for integrating smart technologies into urban planning, infrastructure development, and service delivery, improving residents’ quality of life and promoting economic growth. The framework highlights the importance of sustainability, emphasizing environmentally friendly practices and energy-efficient solutions. Bahrain’s smart city initiatives are multifaceted, encompassing social, economic, and sustainability agendas. Socially, the focus is on promoting cohesion and community engagement through smart parks, community centers, and digital platforms that facilitate communication and collaboration. Economically, Bahrain aims to drive growth and innovation by investing in digital infrastructure and deploying smart technologies across sectors like finance and tourism. Additionally, the kingdom is developing a skilled workforce in emerging technologies to enhance competitiveness. Sustainability is a key pillar, with Bahrain investing in renewable energy sources and smart grid technologies to reduce reliance on fossil fuels and improve energy efficiency. These initiatives collectively aim to enhance the quality of life, drive economic prosperity, and promote environmental sustainability in Bahrain’s smart cities.

This study aims to explore the empirical relationship between public–private investment (PPI) in energy and environmental quality.

The authors hypothesize that PPI can reduce pollution emissions and test this hypothesis by sampling the 20-year data of emerging and growth-leading economies (EAGLE) and adopting two estimation techniques named panel estimated generalized least square and fully modified ordinary least square models.

The empirical analysis vows that PPI has an inverse relationship with CO₂ emissions, corroborating the sustainable development driving role of PPI. In addition, the empirical outcomes suggest a negative/positive role of energy imports and economic growth. Meanwhile, foreign direct investment is negatively linked with CO₂ emissions, corroborating the pollution halo hypothesis in the case of EAGLE. However, financial development shows a positive relationship with CO₂ emissions.

This study offers an important policy outlay regarding the pollution mitigation role of PPI in EAGLE. The environmental sustainability in underlying economies can be achieved by enhancing the magnitude of public–private cooperation in energy investment. The empirical analysis supplements cutting-edge empirical evidence regarding PPI as a driver of important sustainable development goal (SDG), i.e. environmental sustainability.

To the best of the authors’ knowledge, this study is the first study that examines how one can achieve an important SDG regarding environmental sustainability through PPI in energy.

Narratives underscoring the necessity of innovation for success are pervasive. Yet, many new products fail or fail to produce their intended impacts. Conventional views typically promote the functional view of innovation, which focuses on identifying and meeting customer needs. The authors argue, however, that culture is an overlooked explanation of innovation success.

This study uses a conceptual approach, grounded in cultural sociology, to illustrate the ways in which innovation success is influenced by cultural beliefs. Accordingly, this study develops a cultural view of innovation and compare it with the functional view.

This study shows that novel products are successful to the extent their meanings and value resonate with relevant stakeholders. Not only does culture matter, but customers’ needs are often shaped by cultural values in the first place.

More systematic qualitative and quantitative research is needed to better understand the best processes for incorporating cultural beliefs into product features.

In addition to customer needs, innovators should include cultural beliefs as design requirements to ensure the product resonates with the values and everyday practices of users. One way to do this is by implementing the productive method, which provides the resources for the relevant potential users to design the product themselves.

It is not always enough to learn and solicit feedback from potential users. To fully understand the obstacles that may inhibit innovation, this study advocates for providing potential users, local engineers and other relevant stakeholders the autonomy to design, manufacture, market and distribute the product.

Purpose: This chapter aims to understand what convergence means and why it is considered so crucial for the full admission of a state to the European Economic and Monetary Union. Doing this will help understand what considerations of economic theory it is based on.

Need for study: To look into the Maastricht architecture, to point out its fragility during the last crises and the capability of the reforms adopted to reduce it, and to make European monetary union (EMU) more attractive for European Union (EU) members still outside it.

Methodology: The experiences of some countries that joined the EU from 2004 to today will be analysed to propose a synthesis from both a qualitative and quantitative perspective that highlights the paths taken by individual states and the processes currently underway.

Findings: The fragility of the EMU architecture became apparent during recent crises. The European Central Bank (ECB) took on new functions, and it became necessary to establish new financial institutions to operate beyond the Maastricht Treaty. Public budget control rules were suspended during the pandemic crisis, and a one-off transfer among states (Next-Generation EU) was adopted. This was an important precedent, but it was still far from the redistribution among states necessary for a political union.

Practical implications: In Maastricht architecture, there is no room for what is needed most by old and new members, that is, coordinated fiscal policies to stimulate aggregate demand, ensuring persistently high employment and production levels. The paths towards the welfare of European citizens, the increase in the sense of belonging to the same community, attracting new members and supporting financial stability all “converge” on the denominator of the Maastricht fiscal parameters.

The transition from fossil fuel-based energy systems to renewable energy sources, commonly referred to as the energy transition, is essential for combating climate change. However, comprehensive studies that thoroughly examine the financial mechanisms involved in this process are lacking. Despite the availability of various financial tools, there is a notable absence of extensive research that synthesizes and categorizes these mechanisms into broad groups.

A systematic literature review is used to explore a comprehensive framework for financial mechanisms related to the energy transition and their application across six stages of the process.

The framework of financial mechanisms for energy transition encompasses these six factors: public financing mechanisms, private financing mechanisms, market-based mechanisms, innovative financing mechanisms, risk mitigation instruments and institutional support and capacity building.

This is the first study that thoroughly reviewed the financial mechanisms involved in the energy transition process.

This paper aims to offer a comprehensive review and categorization of production optimization throughout the additive manufacturing lifecycle in a cloud environment. It aims to provide a structured approach to identifying and addressing issues.

This paper systematically reviews 75 technical papers on cloud manufacturing, nesting, scheduling and postprocessing in additive manufacturing. This includes a detailed discussion of the key issues.

This paper introduces a production framework for the entire lifecycle of additive manufacturing in a cloud environment. This framework aids in problem identification and decision-making based on the process flow. It provides an integrated view from cloud to postprocessing, examining decision interdependencies and enhancing problem identification and organization.

To the best of the authors’ knowledge, this paper is the first to review the complete lifecycle of additive manufacturing, emphasizing the often-overlooked aspects of postprocessing and cloud manufacturing. It offers a comprehensive study of lifecycle optimization challenges and suggests ways to streamline the production process.

The chapter's scope focuses on examining the manufacturing and consumption practices of plastic-related materials, which are nature-resistant and do not decompose quickly, and the efforts of formal institutions to encourage the recycling of these materials for the environmental sustainability of the metropolis. The chapter examined how effective recycling policies have been in enabling the reuse of plastics and related materials and their effects on the environment. This chapter uses the green theory as a theoretical approach to explain the relationship between man and the environment. The chapter employed a qualitative approach to research with reliance on secondary sources of data. This chapter's findings revealed that while policies are geared towards improving the recycling culture in Lagos, Nigeria, those policies needed to be adequately enacted by the government with the appropriate structure to enable them to achieve the stated objectives, thus rendering them ineffective. In this chapter, recommendation centers, amongst others, that the government of Lagos state, Nigeria, should adopt extended producer responsibility (EPR) to hold manufacturers and importers accountable for the product's life cycle and invest in quality public–private partnerships (PPPs) in recycling to ensure environmental sustainability of the metropolis.