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No. 4

The Impact of Renewable Energy on GDP

Pages: 239-250
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DOI: 10.18488/journal.11.2020.94.239.250

Abdullah . , Aiman Javed , Junaid Ashraf , Tasir Khan

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Abdullah . , Aiman Javed , Junaid Ashraf , Tasir Khan (2020). The Impact of Renewable Energy on GDP. International Journal of Management and Sustainability, 9(4): 239-250. DOI: 10.18488/journal.11.2020.94.239.250
Besides traditional production factors, such as labor and capital, one of the inputs used in the production process is energy. Although the use of fossil fuels is more common in many production processes renewable energy sources are increasingly important in ensuring sustainable development. In many countries in the world, the share of renewable energy is the total energy consumption is very high, including in European Union (EU) countries. The purpose of this study is the investigate the output elasticity coefficients of capital and renewable energy in 12 EU countries by using the Cobb–Douglas production function approach. In this study, the Gross domestic Product these countries from 2000 to 2017, was examined using a generalized method of moments estimation, which used labor, capital, and renewable energy data. As a result of the study, the output elasticity coefficient in the Cobb–Douglas production function was found to be 1.147. This indicates that a 1% increase in labor, capital, and renewable energy increased GDP by 0.598%, 0.446%, and 0.093%, respectively. Among the findings, the relationship between GDP and explanatory variables is statistically significant and economically significant. It is understood that there is a positive relationship between the variables.
Contribution/ Originality
This study contributes to existing literature by investigating the output elasticity coefficients of capital and renewable energy using the Cobb–Douglas production function approach.

The Relation Between Sustainable Project Management and Project Success

Pages: 218-238
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The Relation Between Sustainable Project Management and Project Success

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DOI: 10.18488/journal.11.2020.94.218.238

Ophelie Dubois , Gilbert Silvius

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Ophelie Dubois , Gilbert Silvius (2020). The Relation Between Sustainable Project Management and Project Success. International Journal of Management and Sustainability, 9(4): 218-238. DOI: 10.18488/journal.11.2020.94.218.238
Projects play a pivotal role in the transition of business and organizations towards more sustainable practices. This role requires a reconsideration of the way projects are planned, organized, executed, managed and governed. A sustainability perspective on project management is emerging in literature as Sustainable Project Management, however a gap is observed between the literature and what is carried out in practice. The potential benefits of considering sustainability in project management, such as improved project success, play an important role in the adaption of sustainable project management. The relationship between sustainable project management and project success has been addressed in a number of studies. And although in most of these studies, considering sustainability shows to have a positive effect on project success, the relationship still needs more research. It is this gap in the literature that the study reported addresses. The study aimed to answer the question how considering sustainability in project management relates to project success? Based on a quantitative survey-based research design, the study found a strong positive correlation between sustainable project management and project success. The findings confirm the conclusions found in the earlier studies and provide another indication that considering sustainability in project management supports project success.
Contribution/ Originality
The study contributes to the understanding of the relationship between SPM and PS, with some interesting findings. Also, the operationalization of the variables SPM and PS, in which the study closely follows the latest insights from literature, adds a new element to the literature.

Contemporary Paradigm of Sustainable Development in the European Union

Pages: 207-217
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Contemporary Paradigm of Sustainable Development in the European Union

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DOI: 10.18488/journal.11.2020.94.207.217

Fernando Almeida , Nelson Amoedo

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Fernando Almeida , Nelson Amoedo (2020). Contemporary Paradigm of Sustainable Development in the European Union. International Journal of Management and Sustainability, 9(4): 207-217. DOI: 10.18488/journal.11.2020.94.207.217
This study aims to explore the level of sustainable development in the European Union and examines the relationship that may exist between the sustainability index and the population of its member states, the GDP per capita, and the investments made in R&D. Furthermore, it aims to explore the role of the geographical region as a determining factor in the performance of these countries in each sustainability dimension. The research methodology employs a quantitative approach supported by the adoption of simple and multiple linear regression, cluster analysis, and variance analysis (ANOVA). The findings reveal that R&D expenditure is mainly a determining factor in a country’s sustainable performance. Moreover, it has been possible to identify several asymmetries, with geographical region emerging as a determining factor in the performance of European Union countries in 11 of the 17 dimensions of sustainability. This work offers both theoretical and practical contributions. From the theoretical perspective, it explores the relationship between sustainability and investments in R&D, GDP per capita, and population. From a practical point of view, it offers relevant information to be used by European Union countries to establish supportive policies to enhance the sustainability of economic growth.
Contribution/ Originality
This study contributes to the existing literature by exploring the current state of sustainable development in the European Union (EU). The aim is to assess the relevance of multiple dimensions such as population, GDP per capita, and R&D investments in the sustainable development performance of the EU member countries.

Impact of Board Diversity on Corporate Social Responsibility of Listed Oil and Gas Firms in Nigeria

Pages: 194-206
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Impact of Board Diversity on Corporate Social Responsibility of Listed Oil and Gas Firms in Nigeria

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DOI: 10.18488/journal.11.2020.94.194.206

Issa Saheed Olanrewaju , Abdulkadir Kayode Ishola , Sanni Olawale Nurudeen , Ibrahim Abubakar, Ayuba

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Issa Saheed Olanrewaju , Abdulkadir Kayode Ishola , Sanni Olawale Nurudeen , Ibrahim Abubakar, Ayuba (2020). Impact of Board Diversity on Corporate Social Responsibility of Listed Oil and Gas Firms in Nigeria. International Journal of Management and Sustainability, 9(4): 194-206. DOI: 10.18488/journal.11.2020.94.194.206
This study investigates the impact of board diversity on corporate social responsibility in a developing country context. Board diversity was measured using four dimensions (board independence, board gender diversity, board professionalism and board nationality. We test our hypotheses using data obtained from annual report of eight (8) listed oil and gas firms on Nigeria Stock Exchange (NSE) from 2012 to 2018. Diagnostic test such as, multicollinearity, heteroscedasticity and Hausman tests were conducted to validate the results. Applying Panel corrected standard error (PCSE) regression, the result reveal that board independence, board gender diversity and board diversity have significant positive impact on corporate social responsibility. In contrast, board professionalism has insignificant relationship with corporate social responsibility. In line with Stakeholder theory, our results suggest that board diversity can be seen as an effective mechanism to enhance CSR participation and spending as diversity of boards improves the ability of firms to meet the needs of their broader stakeholder groups. Our study contributes to a better comprehension of the potential value of the diversity of boards. It is therefore recommended that management of listed oil and gas firms need to maintain diverse balanced boards in terms of gender, independence, and expertise to enhance protection of stakeholder’s interest and the reduction of manager’s opportunistic tendencies behind CSR investment.
Contribution/ Originality
This study is one of very few studies which have investigated the influence of board diversity on CSR in developing countries like Nigerian using different measurement (actual amount on CSR) that has previously received little consideration by many researchers and extending the dimension of board diversity beyond gender diversity.