Offering a unifying theoretical perspective not readily available in any other text, this innovative guide to econometrics uses simple geometrical arguments to develop students' intuitive understanding of basic and advanced topics, emphasizing throughout the practical applications of modern theory and nonlinear techniques of estimation. One theme of the text is the use of artificial regressions for estimation, reference, and specification testing of nonlinear models, including diagnostic tests for parameter constancy, serial correlation, heteroscedasticity, and other types of mis-specification. Explaining how estimates can be obtained and tests can be carried out, the authors go beyond a mere algebraic description to one that can be easily translated into the commands of a standard econometric software package. Covering an unprecedented range of problems with a consistent emphasis on those that arise in applied work, this accessible and coherent guide to the most vital topics in econometrics today is indispensable for advanced students of econometrics and students of statistics interested in regression and related topics. It will also suit practising econometricians who want to update their skills. Flexibly designed to accommodate a variety of course levels, it offers both complete coverage of the basic material and separate chapters on areas of specialized interest.

Estimation and Inference in Econometrics

Industry 4.0 is a concept that originated from the German industry, and whose essence is the use of technology for efficient production. In business today, the emergence of Industry 4.0 for production, and its related technologies, such as the Internet of Things (IoT) and cyber-physical systems, amongst others, have, however, a negative impact on environmental sustainability as a result of air pollution, the poor discharge of waste, and the intensive use of raw materials, information, and energy. The method used in this study is an analysis of a literature review of manuscripts discussing topics related to Industry 4.0 and environmental sustainability published between 2000 and 2020. There is currently a gap existing between the actual and the desired situation, in that production occurs in a weak sustainability model, and, therefore, this research debates the effects on environmental sustainability and the challenges facing Industry 4.0. Four scenarios are discussed: a deployment scenario, an operation scenario, integration and compliance with sustainable development goals, and a long-run scenario. The results indicate that there is a negative relationship related to the flow of the production process from the inputs to the final product, including raw materials, energy requirements, information, and waste disposal, and their impacts on the environment. However, the integration of Industry 4.0 and the sustainable development goals enhance environmental sustainability to create ecological support that guarantees high environmental performance with a more positive impact than before. This paper will help stakeholders and companies to provide solutions to the existing environmental challenges that can be mediated through adopting new technologies. The novelty of this study is its depiction of Industry 4.0 and its technologies integrated with sustainable development goals to create a sustainable Industry 4.0 combining environmental protection and sustainability.

Impact of Industry 4.0 on Environmental Sustainability

Digitalization, competition strategy and corporate innovation: Evidence from Chinese manufacturing listed companies

The nexus between digital economy and carbon dioxide emissions in China: The moderating role of investments in research and development

In the 21st century, it is becoming increasingly clear that human activities and the activities of enterprises affect the environment. Therefore, it is important to learn about the methods in which companies minimize the negative effects of their activities. The article presents the steps taken and innovative actions carried out by enterprises in the energy sector. The article analyzes innovative activities undertaken and implemented by enterprises from the energy sector. The relationships between innovative strategies, including, inter alia, digitization, and Industry 4.0 solutions, in the development of companies and the achieved results concerning sustainable development and environmental impact. Digitization has far exceeded traditional productivity improvement ranges of 3–5% per year, with a clear cost improvement potential of well above 25%. Enterprises on a large scale make attempts to increase energy efficiency by implementing the state-of-the-art innovative technical and technological solutions, which increase reliability and durability (material and mechanical engineering). Digitization of energy companies allows them to reduce operating costs and increases efficiency. With digital advances, the useful life of an energy plant can be increased up to 30%. Advanced technologies, blockchain, and the use of intelligent networks enables the activation of prosumers in the electricity market. Reducing energy consumption in industry and at the same time increasing energy efficiency for which the European Union is fighting in the clean air package for all Europeans have a positive impact on environmental protection, sustainable development, and the implementation of the decarbonization program.

Digitization, Digital Twins, Blockchain, and Industry 4.0 as Elements of Management Process in Enterprises in the Energy Sector

The impact of digital technologies on economic and environmental performance in the context of industry 4.0: A moderated mediation model

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The impact of digital technologies on economic and environmental performance in the context of industry 4.0: A moderated mediation model