Measuring financial performance is pivotal not only for assessing a firm’s current health but also for informing strategic decisions that shape its long-term trajectory. This study investigates how macroeconomic volatility affects the firm profitability across five major sectors in Türkiye—industrial manufacturing, food, beverage and tobacco, chemicals and plastics, technology, and energy—during the turbulent period from 2016 to 2023. Using return on assets (ROA) and return on equity (ROE) as performance indicators, we apply panel data regression to test the impact of inflation, interest rates, unemployment, and a novel Macroeconomic Stress Index (MSI), which combines inflation and exchange rate volatility. The results reveal significant sectoral differences: firms in chemicals and manufacturing outperformed others in ROA, likely benefiting from export incentives and scale efficiencies, while energy and food sectors underperformed, constrained by regulations and cost rigidity. Notably, MSI showed a consistent and significant positive effect on both ROA and ROE, suggesting that many firms responded to macroeconomic stress by restructuring operations and improving efficiency. In contrast, interest rates had a strong negative effect on profitability, confirming the sensitivity of firms to financing costs. These findings underscore the need for targeted sector-level policy support and highlight the importance of internal adaptive capabilities in maintaining the firm’s performance under sustained economic stress.

Addressing climate vulnerability remains a priority for economies globally. This study used the panel-corrected standard error (PCSE) methodology to investigate the impact of adaptation financing on climate vulnerability. This analysis examined 52 African countries from 2012 to 2021 while considering their climate adaptation readiness. The impact was also assessed based on the Human Development Index (HDI) categories to reflect different levels of development. The findings showed that adaptation finance considerably influenced climate vulnerability reduction in Africa, particularly in nations with a moderate HDI. However, most countries still need higher levels of adaptation financing, resulting in a small impact on vulnerability reduction. Furthermore, the impact of readiness measures differed by HDI category. Economic and social climate readiness strongly impacted climate vulnerability in high-HDI nations, but governance preparedness was more critical in low-HDI countries. Based on the empirical facts, two policy proposals emerge. First, it is critical to reconsider the distribution of adaptation financing to reduce disparities and effectively alleviate climate vulnerability. Moreover, African economies should consider implementing innovative localized financing mechanisms to mobilize extra adaptation finance. Second, African governments should customize climate readiness interventions based on their HDI levels to improve the achievement of a positive impact on climate vulnerability.

Numerous stakeholders concur that tackling the climate change effect requires massive financial mobilization from the public and private sectors to reduce the climate financing gap. Capital markets are among the key players fostering this mobilization by issuing green financial instruments and facilitating capital flows to green investments. The study aimed to conduct a bibliometric analysis to fill a knowledge gap by evaluating the status and linkages in the literature on capital markets’ green financial instrument issuances. We utilized the Bibliometrix R package and VOS viewer to analyze 314 relevant publications from the Web of Science in 2017–2023 following the Sustainable Stock Exchanges’ green finance voluntary action plan. The analysis entailed mapping the scientific production trends, journal significance, author productivity, keyword linkages, emerging and trending topics, and collaborations within social structures. Further, the study assessed the applicability of Bradford’s, Zipf’s, and Lotka’s bibliometric laws. We highlight six conclusions based on the analysis, their relevance to various stakeholders, and future research directions. The findings are essential in enhancing the decision-making process of policymakers, corporations, responsible investors, and researchers interested in understanding the effectiveness and impact of green financial instruments.

Az Oktatói kézikönyv a hazai fenntarthatósági oktatás egyik kiemelkedő vállalkozása, amely a Budapesti Metropolitan Egyetem és a Magyar Nemzeti Bank közös munkájának eredményeként jött létre. A fenntarthatóság napjainkban összetett, többrétegű fogalom: szűkebb értelmezésben a természeti erőforrások megőrzésére és az ökológiai egyensúly fenntartására utal, tágabb értelemben pedig mindazon társadalmi és gazdasági folyamatokat foglalja magában, amelyek a jövő generációk számára is biztosítják az élhető környezetet és a hosszú távú jólétet. A kötet szerzői e komplex megközelítést követve a fenntarthatóság gazdasági, társadalmi és pénzügyi aspektusait integrált módon mutatják be, ezáltal támogatva a felsőoktatásban folyó képzés megújítását és multidiszciplináris szemléletének erősítését.