Mid Sweden University

PurposeThis study empirically examines the nexus between central bank interest rates and profitability of commercial banks within the specific context of Sweden.Design/methodology/approachBank-level longitudinal panel data from 20 Swedish commercial banks over the period from 2007 to 2022 are analyzed using univariate and multivariate statistical techniques, including ordinary least squares (OLS), fixed-effects models and feasible generalized least-squares (FGLS) regression, to provide robust insights into the factors influencing bank profitability.FindingsContrary to common expectations, the result of this study shows no statistically significant relationship between central bank interest rate and banks profitability in Sweden. The findings of the three models indicate that the organization-level determinants such as persistent profitability, capital adequacy, size and revenue growth, are more important than the central bank interest in explaining profitability among Swedish banks.Originality/valueThe study expands our knowledge regarding the complexities of relationship between the central banks interest rate on banks' profitability particularly in the less investigated context of Sweden. The study is also notable as it finds no significant relationship between central banks interest rate and banks profitability, which may be attributed to the large database used as well as the inclusion of many organizational level variables.

Adaptive management approaches are needed to maintain and improve forests’ resilience to future climatic changes. Climate sensitive forest increment models are the crucial tools to evaluate the performance of the adaptive strategies in forest management under climate change. Oriental beech (Fagus orientalis L.) is the most dominating and commercially important tree species in Hyrcanian forests of Iran, the main source of timber production, biodiversity conservation, and eco-tourism. Consequently, this study aims to achieve three primary objectives: (1) to develop a climate-sensitive tree increment and yield model for oriental beech forests (2) to predict the increment and yielding of these forests in the future under climate change (IPCC scenarios), and (3) to analyze the resilience of four alternative management strategies including business as usual (BAU) and logging ban. We re-calibrated a single-tree diameter and height increment, and tree survival models using forest measurement data from permanent plots with five-year interval and from 1988 to 2018. By validating the models, three climate change scenarios RCP2.6, RCP4.5 and RCP8.5 as well as four harvest strategies (logging ban, intensified logging (50% above BAU), and decreased logging (50% < BAU), and BAU) were applied for the simulation of increment and survival probability of single trees in a selected site. Our findings indicate that climate change, particularly increased drought stress under the RCP8.5 scenario, significantly reduces the increment and survival probability of beech trees. However, under RCP2.6 and RCP4.5, we observed a slight increase in increment. Implementing a logging ban as a management strategy emerged as the most resilient alternative for these forests, potentially fostering an increase in both diameter (up to 5.93 cm) and height increment (up to 3.12 m) until the final period. These findings lend support to the existing forest policy of enforcing a ten-year logging ban in the Hyrcanian forests of Iran.

This study investigates the recreational value of the Helen protected forest area, incorporating the new environmental paradigm into economic valuation. Visitors’ willingness to pay and its association with scores reflecting the new environmental paradigm were assessed through contingent valuation and a dual-dimensional questionnaire. Two models are employed: a base model with socio-economic variables and a model integrating new environmental paradigm. Results indicate that 83.04% of visitors are willing to pay for recreational use. The proposed amount, visit frequency, new environmental paradigm, age, gender, education, and income were found to significantly influence the acceptance of willingness to pay. Results indicated a strong positive correlation exists between new environmental paradigm and willingness to pay, highlighting the influence of environmental perspective. Average willingness to pay per household per visit is IRR 190,390.4 (USD 0.53), translating to an annual recreational value of IRR 22,629,264,215 (USD 64,088) for the entire Helen forest. The average new environmental paradigm scores for visitors stand at 57.36, with the statement “plants and animals have similar rights to humans” receiving the highest score of 28.4. These findings emphasize the importance of considering environmental perspectives in managing recreational sites. Integrating a new environmental paradigm into valuation methods can inform sustainable management strategies that balance economic development with environmental conservation and social well-being.

The COVID-19 pandemic has profoundly impacted education, necessitating a rapid transition to remote learning and increased reliance on digital technologies. The purpose of this study is to explore students’ perspectives on the quality of online learning compared to traditional face-to-face in a post-pandemic context. This is conducted through the effectiveness of online education and the motivation of the learners. The quantitative results through one-way ANOVA results show no significant difference in mean scores across courses or questions for online learning perceptions. Additionally, two-way ANOVA without replication revealed no significant difference in mean scores for both courses and questions. The qualitative results highlight the challenges of online education as Swedish educational institutions are urged to invest in technological infrastructure, faculty training, and student support services. The findings also reveal that while hybrid teaching is popular, creating an inclusive and engaging online environment is crucial for educational development. By understanding students’ post-pandemic experiences, this research provides valuable insights to educators, enabling informed decision-making and improvements in pedagogical practices enhancing the quality of online education and fostering effective learning environments. This further can lead to advancements in the theoretical stances developing recommended teaching frameworks.

Forest management, especially in regions with diverse socio-economic and environmental challenges, is crucial for promoting sustainable livelihoods. The absence of effective participatory forest management strategies has led to deficits in both forest resource conservation and the enhancement of local livelihoods. This research investigates participatory forest land management by identifying and prioritizing key factors and proposing strategic management approaches. Data were collected through interviews and questionnaires in Qazvin Province, Iran. The data was analyzed using an integrated SWOT-AHP model. The SWOT matrix underscored critical aspects of forest resource management in the study area: "soil conservation and erosion prevention" emerged as a key strength, while "economic stability, improvement and diversity of livelihood of dependent communities" were highlighted as significant opportunities. Conversely, "weak enforcement of laws, policies, and strategies" was identified as a notable weakness and "reduction of forests area" was a concerning threat. The prioritization of SWOT factors revealed that opportunities hold the highest priority. Specifically, "economic stability, improvement, and diversification of livelihoods for dependent communities" and "collaborative forestry" were assigned top priorities, with final weights of 0.1665 and 0.1095, respectively. Furthermore, the AHP method indicated that “program-oriented management with stakeholder participation” is the most crucial strategy, with a relative weight of 0.21. The study underscores this strategy as an effective approach to achieving sustainable forest management, emphasizing its potential to align stakeholder interests and enhance forest conservation efforts.

Forests are complex ecosystems that require integrated management to balance economic, social, and environmental dimensions. Conflicting objectives among stakeholders make optimal decision-making particularly challenging. This study seeks to balance the economic gains of forest harvesting with the goals of environmental conservation, with a focus on the Shafarood forest in Northern Iran. We applied multi-objective optimization and game theory to maximize the net present value (NPV) of forest harvesting while enhancing carbon sequestration. The research utilized data on stumpage prices, harvesting costs, tree density, volume per ha, growth rates, interest rates, carbon sequestration, and labour costs. Applying the epsilon-constraint method, we derived Pareto optimal solutions for a bi-objective model, and game theory was applied to negotiate between economic and environmental stakeholders. In the fifth round of bargaining, a Nash equilibrium was achieved between the two players. At this equilibrium point, the economic player achieved NPV from forest harvesting of 9001.884 (IRR 10,000/ha) and amount of carbon sequestration of 159.9383 tons/ha. Meanwhile, the environmental player achieved NPV from forest harvesting of 7861.248 (IRR 10,000/ha), along with a carbon sequestration of 159.9731 tons/ha. Results indicate significant trade-offs but reveal potential gains for both economic and environmental goals. These findings provide a robust framework for sustainable forest management and offer practical tools to support informed decision-making for diverse stakeholders.

Vaccinium arctostaphylos (Caucasian whortleberry) is one of the most important wild berries with remarkable properties that grows in Iran and the Caucasus region. The objective of this research is to determine the productivity and economic value of V. arctostaphylos fruits in Hyrcanian forests of Iran. We used a survey to determine the economic value and we conducted a forest inventory to estimate the fruit production. The inventory results revealed that the average number of bushes and fruit production were 3900 per ha and 137 kg per ha, respectively. The survey results showed that the total market margin of fruit production is 81.29%, which indicates that the intermediaries earn more profit than the local harvester. The profit gained from the forest due to harvesting of V. arctostaphylos fruit was 161 million IRR/ha or about 1238 USD per ha. The harvesting of this fruit has created job for 500 local people in the study area during the harvesting period. The net present value (NPV) of fruit production and timber harvesting was calculated for comparison. Results indicated that the NPV of fruit harvesting is 1.79 times higher than the NPV of timber harvesting. Regarding to the harvesting moratorium in Iranian Hyrcanian forests, an optimal and sustainable harvest of V. arctostaphylos fruit can be an important source of income for forest dwellers and local people. 

The issues of forestry and the economic assessment of ecosystem services of forests, in the example of the national park “Burabay” in Kazakhstan, located in the northern part of the country, are investigated in this study. The relevance of forest ecosystem services, such as carbon fixation, oxygen emission, soil conservation from erosion and precipitation redistribution, are important environmental factors that contribute to the conservation of natural capital. Studies by domestic and international scientists show that the value of ecosystem services of forests is much higher than the cost of wood and its material products. Consequently, the ecosystem services of forests should be valued in monetary terms and considered in the context of the national wealth of the country. The main purpose of this research is to establish the value of non-market forest products while considering the prevailing natural and socio-economic conditions. The methods of the ecosystem approach for assessing the above ecosystem services of forests in value terms were implemented, and the real value of the multifunctional value of forests has been revealed. The results obtained can be used in planning measures to improve the sustainability of forests, ecotourism organizations and management decision-making.

Friluftslivet skapar många värden för individ och samhälle. Några av dessa uppstår genom den konsumtion deltagande i olika slags friluftsaktiviteter genererar. Friluftslivet representerar också flera upplevda värden. År 2009 gjordes en enkätundersökning bland svenskar kring deras ekonomiska utgifter för friluftsliv och värdering av deltagande i fritidsaktiviteter utomhus. Rapporten som kom 2010 var första gången friluftslivets ekonomiska värden dokumenterades i en svensk kontext. Syftet var att fånga friluftslivets omfattning i ekonomiska termer genom att utgå ifrån 43 olika friluftsaktiviteter som valts baserat på den vetenskapliga forskningen. Den här rapporten följer upp 2009 års undersökning genom en förnyad studie som upprepar den som gjordes då i syfte att skatta direkta ekonomiska effekter, indirekta effekter och svenskarnas värdering av friluftslivet. Undersökningen är gjord genom tre omgångar av utskick för att täcka ett års aktiviteter, där ett representativt urval av privatpersoner i en webb-panel har fått svara på en enkät med frågor om utgifter kopplade till friluftsliv.

Resultaten visar att 60 % av alla vuxna svenskar har haft utgifter för friluftsliv, för egen del och/eller för andras räkning. De sammanlagda utgifterna uppgår till 191 019 miljoner kr, och  därutöver finns ett konsumentöverskott motsvarande 24 016 miljoner kr. Jämfört med år 2009 innebär detta en 60-procentig ökning i utgifter och en 40-procentig minskning i konsumentöverskott (mätt i 2009 års prisnivå). Friluftsrelaterade utgifter bidrar med ett förädlingsvärde i den svenska ekonomin motsvarande ca 74 950 miljoner kr och ca 167 300 arbetstillfällen. Rapporten innehåller detaljerade resultat avseende olika kategorier av utgifter för friluftsliv, utgifter för olika aktiviteter, årstider, geografisk fördelning samt jämförelser mellan olika grupper.