Zaineb Hlioui

This study investigates the impact of environmental attention on cryptocurrency market volatility by introducing the Crypto Environmental Attention Index (CEAI), a new metric inspired by Wang et al. (2022) and constructed using daily web search data. Environmental concerns can significantly impact the popularity and volatility of cryptocurrencies, influencing risk perceptions, and shaping market dynamics. Using vector autoregression (VAR), vector error correction models (VECM), and Granger causality tests on data from 2014 to 2022, the study finds that Ethereum's volatility is strongly influenced by the CEAI in both the short and long‐term, whereas Bitcoin volatility has a short‐term unidirectional effect on environmental attention and a bidirectional relationship in the long term. This study is situated within a broader economic framework of sustainable finance, the transition to greener blockchain technologies, and regulatory responses to environmental issues. It offers actionable insights for risk management, policy formulation, and cryptocurrency valuation using environmental, social, and governance (ESG) criteria.

This paper analyzes the impact of strategic CSR on innovation performance, focusing on French firms listed on the SBF120 index. Despite increasing interest in the relationship between CSR and innovation, there is a notable gap in understanding the nuanced ways in which specific strategic CSR mechanisms influence innovation outcomes. This study addresses this gap by developing a comprehensive quantitative measure for strategic CSR based on four mechanisms: reputation enhancement, stakeholders' reciprocation, risk mitigation, and innovation capacity improvement. Our results indicate that the overall strategic CSR score is positively associated with corporate innovation. However, only the stakeholders' reciprocation and the innovation capacity improvement among the strategic CSR pillars significantly influence innovation outcomes. These insights offer policy implications, suggesting that policymakers encourage CSR practices that foster stakeholder collaboration and enhance innovation capabilities. These findings highlight the importance of a targeted implementation of strategic CSR to boost innovation effectively.

Purpose: In this study, we aim to define a new ecological financial pecking order. We examine how SMEs' adherence to the environment in the Mediterranean region is impacted by their financial resources and how women Entrepreneurship could play a moderating role in this relationship. Design/methodology/approach: Our data are pooled cross-sectional firm level data across 14 Mediterranean countries, with a total of 5,949 observations over the period from 2018 to 2020. We look into the moderating influence of SMEs’ female ownership on the financial sources-environmental engagement link using GLS estimations. To reach our aim we focus on seven funding sources and develop a green engagement construct using JCA. Besides, we distinguish between the least and most environmentally engaged companies in the EU and its neighborhood and compare the different interactions and possible moderations. Findings: Results show that government subsidies foster environmental engagement, followed by supplier credits with a less significant positive impact. The bank credits have the least significant beneficial influence, while non-bank financial institutions have a non-significant effect. We underline that environmental engagements are hindered by the other funds, issued bonds and internal funds. Research limitations/implications: SMEs in the Mediterranean region, particularly the less environmentally conscious, require strong legal frameworks to enforce environmental responsibility and raise awareness. Integrating less environmentally committed EU SMEs into state subsidy strategies is a chance to improve environmental responsibility in the region. Originality/value: To our knowledge, there are no prior studies that present a detailed financial structure and environmental management investigation for SMEs within the Mediterranean region while considering the moderating effect of women's entrepreneurship.

This study delves into the influence of CEO gender on climate change commitment within SMEs in the Mediterranean region. Utilizing data from the sixth wave of the BEEPS survey (2018–2020), we explore the mediating role of environmental regulation perception in this context. Our findings align with social role theory, indicating that women demonstrate heightened ecological and communal behavior, driven by their perception of environmental regulations. We reveal a full mediation link within the EU Mediterranean region, where environmental regulation perception explains women's commitment to environmental causes. However, in the EU neighborhood, we identify a direct significant effect of CEO gender on SMEs' engagement with climate change, particularly in terms of controlling CO₂ emissions. Our study sheds light on the limited presence of women in top management positions in the Mediterranean region. Additionally, we highlight the scarcity of environmental regulations for SMEs in the EU neighborhood, with the perception of these regulations as barriers hindering proactive climate change strategies. Therefore, governmental authorities need to develop more stringent environmental regulations while taking into account the financial capacities of SMEs. Providing ecological business education before implementing new regulations could also be beneficial. The study carries significant managerial and social implications, emphasizing the necessity of diverse leadership to promote sustainability and underscoring the importance of tailored regulatory initiatives for effective climate action.

This paper examines the influence of informal competition on SMEs innovation in the Eastern European transition economies. It investigates whether credit constraints mediate this relation. SMEs innovation is presented through four measures: Product innovation, Process innovation, Radical innovation and Green innovation. Using the BEEPs VI that covers the period from 2018-2020, we show that informal competition affects positively the product, process and radical innovation. Yet, it has a non-significant effect on green innovation. Besides, the informal sector increases SMEs credit constraints, which indirectly leads to less corporate innovation. The negative indirect effect restrains the positive direct effect. Hence, a partial mediation effect of credit constraints on the informal competition and the innovation proxies is reported with the exception of green innovation.