In current volatile business environment, the owners of the corporations are worried about how diverse board composition influences the strategic performance of the corporations. Therefore, this study considered the agency theory, upper echelon and resource-based view of board heterogeneity as limited literature account for such integrated phenomenon of theories. Accordingly, the key aim of the study is to scrutinize the impacts of occupational heterogeneity (educational) and social heterogeneity (gender and national) on firm performance. At first, Blau’s heterogeneity index was applied to measure the occupational heterogeneity and social heterogeneity, then ordinary least square method was applied for analysis. The data set was obtained from the non-financial sector of Pakistan Stock Exchange for the years 2010–2016 with final sample of 375 firms. The findings of current research concluded that all measures of occupational heterogeneity significantly and positively contribute to firm value expect finance education and other education (defense, arts, political science etc.). However, in social heterogeneity, gender diversity has a negative effect on firm performance while nationally heterogeneous board demonstrate a positive effect on firm performance. Moreover, this study has beneficial implications for the corporate sector as firms can boost their profitability by extracting benefits from their diverse workforce.

Theoretical Implications of Renewable Energy using Improved Cooking Stoves for Rural Households

Sustainable development is closely associated with energy availability. It requires a continuous and efficient energy supply. Therefore renewable energy sources such as wind energy are vital for the Indian economy not only from supply side considerations but also for their environmental and social benefits. The current paper undertakes an empirical study of investments made at the Muppandal Wind Farm using different project evaluation methods. The results of the economic and financial analysis show that windmills having rated power more than 500 kW are economically viable and financially profitable after the year 1999. Considering improved technology, volatility of energy markets and the difficulty of huge investments, it is advisable to select windmills with the shortest payback period and to install higher rated power windmills at the Muppandal Wind Farm. The study concludes without government incentives and subsidies it would be very difficult for many firms at this location to break even.

This study aims to provide actionable insights into how digital technologies can be leveraged to advance circular economy (CE) practices in organizations. Future challenges in resource management and sustainability receive further attention. Semi-structured interviews were conducted with 15 global professionals from diverse industries. The analysis was carried out using Braun and Clarke's thematic analysis framework. Digital technology is critical for promoting CE practices in various industries. Blockchain, artificial intelligence, and the Internet of Things have emerged as powerful tools for advancing CE. We can alleviate waste and pollution, extend the life of products and increase their use intensity, recycle materials into the economy, and regenerate the environment through a circular approach. These innovations drive efficiency improvements and optimize resource use across various industries. Integrating digital tools holds significant potential to shift traditional linear economic models toward more sustainable and resource-efficient systems. Stronger partnerships between policymakers, businesses, and researchers will be essential in scaling digital solutions, driving responsible production and consumption, and ensuring long-term sustainability in a resource-conscious world. The study underscores industry perspectives and emerging trends, digital technologies can be effectively utilized to promote CE practices to ensure a sustainable future.

This paper examines the regressive nature of the value-added tax and proposes an integrated framework combining a uniform value-added tax rate with progressive, digitally administered rebates. The model was performed using household- and firm-level microsimulations with Monte Carlo methods. It demonstrates that equity can be reached without revenue neutrality being undermined. Simulation results for a calibrated 2024–2025 economy show the proposed rebate structure reduces the effective tax burden on the lowest income quintile from 13.5% to 5.4% of income, delivering a net cash benefit of USD 786.88 and a welfare gain of 6.10%. The policy is projected to generate a robust average VAT revenue of USD 17.44 million, with a 97.8% probability of a positive fiscal impact, while reducing the poverty rate by 2.6% and lowering inequality (Gini coefficient of utility to 0.199). The outcomes present a welfare gain for the poor, a small firm-level effect, and a decrease in poverty and inequality. The results suggest a feasible policy route towards a more equitable tax system, thus promoting indirectly to the United Nations Sustainable Development Goals (SDGs), specifically SDG 8 (decent work and economic growth) and SDG 10 (reduced inequalities).