Green retrofitting is a potent strategy to improve energy efficiency and support the cultural conservation of historical buildings. China has many historical buildings with significant potential for green retrofitting. Nevertheless, the Chinese green retrofit industry remains in its early stages due to the lack of a comprehensive promotion mechanism. Drawing upon evolutionary game theory, an evolutionary game model was formulated to analyze the interplay among governmental regulators, Energy Service Companies (ESCOs), the owners of historical buildings, and tourists. At an extreme disturbance intensity of 100%, a striking decline is observed in the likelihood of ESCOs maintaining the “green retrofit” strategy, with the probability dropping to a minimum of 24.68%. Under specific conditions however this interplay attains an optimal equilibrium state, denoted as (1,1,1,1). It is concluded that governmental regulators exhibit a greater degree of stability compared to other stakeholders, as they maintain their strategies despite external disturbances. Therefore, it is recommended that effective incentives and regulatory frameworks should consider the sensitivities of non-regulatory stakeholders to enhance the success of green retrofitting projects for historical buildings.

Purpose: This research intends to analyze the innovation ecosystem factors that play a vital role in firm performance. As a result, large-scale empirical studies on the innovation ecosystem are rare, and fewer efforts have been made to determine if and how different factors affect the ecosystem models of firms. There has yet to be a substantial empirical study on the innovation ecosystem.Design/methodology/approach: Data were acquired from Pakistani IT companies. The results show that factors of the innovation ecosystem significantly contribute to business performance. The essential assumption is that resource endowment, organizational culture, knowledge and competence, and technology capability are allied to the innovation ecosystem.Findings: The findings are crucial from a managerial view because firms must focus on changing their innovation ecosystem factors model to achieve greater performance. Radical changes in the firms will only be worthwhile if they value their resource endowments. To attain superior firm performance via influential factors of the innovation ecosystem, IT administrators need to build organizational cultural capacities to adapt to changes brought on by digitization quickly and effectively. However, this must be supplemented by improving organizational knowledge, competencies and technological capabilities to enable organizations to modify their ecosystems.Originality/value: Eventually, firms can better respond to changes in their settings if they combine these variables by implementing an effective innovation ecosystem model, which leads to greater sector and superior financial performance.

This study aims to provide a brief overview of the novel Coronavirus (COVID-19), which has spread to nearly 200 countries and regions worldwide but is still active. We are particularly concerned by the COVID-19 economic perspective, which presents an Asian perspective challenge. The COVID-19 scenario is continually unfolding, and this research draws on evidence from published studies and news outlets. To delve deeper into the subject, we categorize the economic impact into four groups: Central and West Asian countries, East Asian countries, South Asian countries, and Southeast Asian. The consequences are dire: lower exports, slowed international economic activity, lower inward demand, and lower local consumption. However, by addressing key challenges based on New Structural Economics (NSE) and employing the market's comparative advantage strategy, Asian economies can be well-positioned to pursue stable and efficient economic development. The primary goal of the examination is to determine the factor endowment and structure. Furthermore, we advocate for a facilitating state because its functions enable structural change through operating industrial strategy to mitigate market breakdowns and support industries by concealing comparative advantages in the market to achieve stability and dynamic development. As a result, Asian economies must embark on a path to state-friendly and market-driven development following COVID-19. COVID-19 has negatively impacted economies, especially in emerging nations. As a result, Asian economies must urgently implement measures that encourage both government intervention and good market practices in order to stimulate economic progress. This includes promoting structural transformation through industrial strategy, addressing market failures, and assisting industries in achieving market stability and encouraging dynamic growth by using their comparative advantages.

This research aims to examine the external governance process boosts the performance of Pakistan's listed commercial banks by estimating the return on equity (ROE) and earnings per share (EPS). The research involved external governance mechanism with the moderating role of government ownership. The study's sample structure consists of Pakistan Stock Exchange (PSX) listed banks with the existence of government ownership from 2014 to 2018. Data is obtained as well from financial statements, shareholding trends, and the Credit Rating Agency of Pakistan (PACRA). To meet the specific aim of the research and to satisfy the goals of the analysis, the panel data methodology (fixed effect and random effect model) has been applied. The findings have shown that the external governance system plays an important role in the banking sector's accountability and performance. Government ownership may also improve banking institution efficiency by improving external governance mechanisms. This study will allow commercial banks to overcome the challenges and boost efficiency with the external governance mechanism and devise better working strategies. This study makes it easier for the bankers' rulers to run the external governance system to strengthen bank efficiency. This work is unique because no one defined an external governance system with government ownership as a moderating role.