Dhairya Dev
57916029400
Publications - 7
Sustainable finance in action: A comprehensive framework for policy and practice integration
Publication Name: International Review of Economics and Finance
Publication Date: 2025-10-01
Volume: 103
Issue: Unknown
Page Range: Unknown
Description:
This study examines the current state of sustainable finance and proposes a strategic roadmap for its advancement in policy and practice, emphasizing the integration of sustainability principles into financial systems to address global environmental and social challenges. Using an integrative literature review of 684 scholarly articles—combining bibliometric analysis with manual review—the research identifies six critical themes and highlights major barriers such as regulatory ambiguity, lack of standardized metrics, and limited data availability. It offers targeted recommendations for policymakers, financial institutions, and stakeholders to overcome these challenges. The study provides a novel methodological contribution by merging bibliometric and qualitative insights, and outlines practical strategies to enhance regulatory frameworks, encourage innovation in sustainable finance, and promote emerging technologies like blockchain and artificial intelligence. Ultimately, it supports the integration of environmental, social, and governance (ESG) considerations into financial practices, fostering a more responsible and inclusive financial ecosystem.
Open Access: Yes
Crude oil Price forecasting: Leveraging machine learning for global economic stability
Publication Name: Technological Forecasting and Social Change
Publication Date: 2025-07-01
Volume: 216
Issue: Unknown
Page Range: Unknown
Description:
The volatility of the energy market, particularly crude oil, significantly impacts macroeconomic indices, such as inflation, economic growth, currency exchange rates, and trade balances. Accurate crude oil price forecasting is crucial to risk management and global economic stability. This study examines various models, including GARCH (1,1), Vanilla LSTM, GARCH (1,1) LSTM, and GARCH (1,1) GRU, to predict Brent crude oil prices using different time frequencies and sample periods. The LSTM and GARCH (1,1)-GRU hybrid models showed superior performance, with LSTM slightly better in predictive accuracy and GARCH (1,1)-GRU in minimizing squared errors. These findings emphasize the importance of precise crude oil price forecasting for the global energy market and manufacturing sectors that rely on crude oil prices. Accurate forecasting helps ensure economic sustainability and stability and prevents disruptions to production and distribution chains in both developed and emerging economies. Policymakers may choose to implement energy security measures in response to the significant impact of crude oil price volatility on the macroeconomic indicators. These measures could include maintaining strategic reserves, diversifying energy sources, and decreasing the dependence on volatile oil markets. By doing so, a country's ability to handle oil price fluctuations and ensure a stable energy supply can be enhanced.
Open Access: Yes
Empowering energy transition: Green innovation, digital finance, and the path to sustainable prosperity through green finance initiatives
Publication Name: Energy Economics
Publication Date: 2024-08-01
Volume: 136
Issue: Unknown
Page Range: Unknown
Description:
This study delves into the intricate relationship between financial digitization and green innovation, aiming to shed light on their dynamic interplay within a global context. Spanning from 2003 to 2020, the study encompasses 15 diverse countries, encompassing both developed and emerging economies, including Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, South Africa, Turkey, the United Kingdom, and the USA. It not only explores the direct connection between financial digitization and green innovation but also takes into account various controlling factors such as economic growth, industrial value addition, research and development expenditure, and gross national expenditure. The key findings from quantile regression reveal financial digitization have a significant positive effect, indicating that in countries with lower green innovation levels, an increase in digital financial services significantly boosts green innovation. This positive impact persists across quantiles, even in countries with higher green innovation levels, albeit to a lesser degree. Economic growth consistently shows a negative association with green innovation across all quantiles. Research and development expenditure consistently demonstrate a positive relationship with green innovation across all quantiles, emphasizing that countries allocating a higher percentage of their economic growth to research and development expenditure activities experience substantial increases in green innovation. This underscores that countries allocating a higher percentage of their economic growth to research and development expenditure activities experience substantial increases not only in green innovation but also in the facilitation of green finance initiatives.
Open Access: Yes
Nexus between environmental degradation and climate change during the times of global conflict: Evidence from CS-ARDL model
Publication Name: Environmental and Sustainability Indicators
Publication Date: 2024-06-01
Volume: 22
Issue: Unknown
Page Range: Unknown
Description:
There has been a substantial amount of research done on air pollution, both in terms of its history and its state at the present time. On the other hand, the ever–changing influence of climatic variables such as sun hour, air pressure, and wind speed has gotten just a small portion of the attention. This divide becomes even more apparent when one considers the ongoing conflicts that are taking place between Russia and Ukraine as well as the current state of the environment's response to climate change. In order to bridge this research gap, the goal of this study is to explore the ways in which climatological factors impact air quality, especially levels of PM2.5 and ozone, in a range of cities situated in India, during 2020–2021. Studies conducted over brief and extended periods of time have made it abundantly evident that sun hour, wind speed, and humidity have an impact on ozone levels. The study also sheds light on prospective policies that may be implemented in the future, such as those relating to carbon emission and particulate pollution such as PM2.5, in order to successfully battle the negative impacts that these variables have on the environment.
Open Access: Yes
Past, present, and future of block-chain in finance
Publication Name: Journal of Business Research
Publication Date: 2024-04-01
Volume: 177
Issue: Unknown
Page Range: Unknown
Description:
Diverse businesses are investigating the possibility of redefining their current operational systems in light of the latest blockchain, initially developed for Bitcoin traBitcoinns. This research examines the existing literature on blockchain and its application in the finance sector. This paper provides a systematic literature review of the uses of blockchain in the finance sector. To conduct the review, we performed a boolean search on the Scopus database and obtained 149 records, which we then analyzed bibliometrically using the bibliometrix package in R. The categorization of the existing literature into themes resulted in identifying the following six significant research themes: financial inclusion, sustainable finance, blockchain technology, cryptocurrencies, and artificial intelligence. Following the inductive analysis, we propose a conceptual framework that includes components such as the digital financial revolution, innovation, entrepreneurship, the financial market, sustainable business development, and financial innovation and sustainability. These findings are utilized to suggest future lines of inquiry for this area of study, including the necessity of methodological development and theoretical foundation.
Open Access: Yes
Artificial intelligence-driven management: Bridging innovation, knowledge creation, and sustainable business practices
Publication Name: Journal of Innovation and Knowledge
Publication Date: 2026-01-01
Volume: 11
Issue: Unknown
Page Range: Unknown
Description:
The rapid evolution of artificial intelligence (AI) from expert systems and fuzzy logic to sophisticated technologies such as deep learning and big data analytics has transformed modern management practices. This study explores how AI-driven management practices can effectively bridge innovation, knowledge creation, and sustainable business practices, thereby contributing to long-term organizational growth and the achievement of the Sustainable Development Goals (SDGs). By employing a comprehensive review research technique and analyzing 1,377 articles from the Scopus database, this study uncovers critical themes, sub-themes, variables, and their interlinkages. The findings demonstrate AI’s transformative potential across diverse domains, including human resource management, consumer service management, strategic leadership, operational efficiency, and customer experience enhancement. This paper addresses the role of AI governance frameworks that prioritize ethical considerations such as accountability, transparency, privacy, and cybersecurity, while fostering innovation-oriented knowledge creation. Despite significant advancements, knowledge gaps remain in integrating AI with innovative business models to achieve sustainability objectives. The study concludes by offering research and policy recommendations to promote AI-driven innovations that are ethically sound, operationally efficient, and socially responsible. This work contributes to the discourse on AI’s role in enhancing knowledge systems and innovation processes, providing valuable insights for scholars, practitioners, policymakers, and business leaders.
Open Access: Yes
Strategic Innovation for Sustainability: A Conceptual Model Linking Digitalization, Social Dynamics, and Climate Change Mitigation
Publication Name: Business Strategy and the Environment
Publication Date: 2025-01-01
Volume: Unknown
Issue: Unknown
Page Range: Unknown
Description:
This study addresses a significant research gap in the literature by systematically reviewing and synthesizing the interplay between social dynamics, environmental changes, and organizational innovation. Although prior research has explored these dimensions in isolation, the integrative framework remains lacking. To address this, we conducted an integrative review that combined bibliometric and content analyses of 845 peer-reviewed articles, following the PRISMA guidelines for methodological rigor. Our study reveals that digitalization, social innovation, and technological advancement collectively empower firms to navigate complex social and environmental challenges, fostering sustainable innovation and resilience. Theoretical contributions are grounded in the Triple Bottom Line, Innovation Diffusion Theory, and Resource-Based View theory, offering a robust framework for understanding how organizations balance their economic, social, and environmental performance. Key findings highlight the pivotal role of communication, collaboration, and knowledge sharing in driving innovation, as well as the importance of integrating social and environmental responsiveness into strategic resource management. This study advances the literature by presenting a comprehensive framework that incorporates organizational innovation with broader sustainability outcomes, thereby informing both academic research and practical strategies for sustainable business transformation.
Open Access: Yes
DOI: 10.1002/bse.70471
