New Challenges for Future Sustainability and Wellbeing

Cover of New Challenges for Future Sustainability and Wellbeing


Table of contents

(26 chapters)

Purpose: This chapter presents criticisms of financial inclusion.

Methodology: This chapter uses critical discourse analysis to critique the modern financial inclusion agenda.

Findings: The findings reveal that (i) financial inclusion is an invitation to live by finance and leads to the financialization of poverty; (ii) some of the benefits of financial inclusion disappear after a few years; (iii) financial inclusion ignores how poverty affects financial decision-making; (iv) it promotes digital money which is difficult to understand; (v) financial inclusion promotes the use of transaction accounts; (vi) digital money is difficult to understand; and that (vii) some financial inclusion efforts bear a resemblance to a campaign against having cash-in-hand.

Implication: This study will help policymakers in their assessment of the economic, social, political, and cultural factors that hinder financial inclusion as well as the consequence of financial inclusion for society. For academics, this study will provide a critical perspective to on-going financial inclusion debates in the large positivist literature on financial inclusion.

Originality: Currently, there are no studies that use critical discourse analysis to analyze the broader concept of financial inclusion. This chapter is the first study that uses critical discourse analysis to critique some aspects of the modern financial inclusion agenda.


Purpose: With this study, the authors aim to analyze and highlight the financial performance of pension funds (public and private) and their impact on the economic growth of The Organisation for Economic Co-­operation and Development (OECD) countries, while taking into account the effect of market capitalization, inflation, and public debt.

Methodology: To carry out this analysis, the authors subjected our secondary data (derived from published in the annual reports of the OECD, the World Bank and the IMF) to econometric tests, specifically linear regression, random effect, fixed effect, the Hausman–Taylor Regression, the Generalized Estimating Equations (GEE), the Generalized Method of Moments – Arellano – Bond Estimation (GMM) and carried out an analysis of linear trends through the historical method and comparative method.

Findings: Based on the empirical results of this study, the authors conclude that the assets of public and private pension funds have positively affected the economic growth of OECD countries (2002–2018).

Practical Implications: This study provides an overview of the functioning of pension systems in OECD countries as well as the effects of these pension funds on their economic growth. Moreover, it provides additional new knowledge for governments and policymakers in these countries and a good source of information for all employees (whether public or private), on the quality and standards of living after retirement.

Significance: The importance of this study rests on the fact that OECD countries have a highly developed economy and have high-performance financial markets. Therefore, this highlights the importance of investments by pension funds in their financial markets for economic growth and for the indirect effects caused on their economies.


Introduction: The current study examines the relationship of reciprocity and the knowledge sharing behavior (KSB) with the mediating role of organizational commitment.

Aim: The purpose of this chapter is to examine linkages between reciprocity and KSB in Pakistani Pharmaceutical industry basing on social exchange theory (SET) (Blau, 1964). Employees’ affective and normative organizational commitments were proposed as mediator to explain these relationships.

Method: Data were collected using Survey Questionnaires from a sample of 287 managers and staff of sales department of different pharmaceutical firms in Rawalpindi and Islamabad, Pakistan. This is an explanatory study with a quantitative approach. KSB model was developed and tested using a two-stage analysis. Initially, path analysis using AMOS was carried out followed by mediation through process analysis.

Findings: Affective and normative commitment was found to be mediating between reciprocity and KSB using SET.

Originality of the Study: Few empirical studies have analyzed the effects of reciprocity on KSB, especially in context of pharmaceutical industry. Mediation of employee’s commitment could provide new insights to management practitioners in fostering KSB.

Implications: The finding will allow organizations in general and pharmaceutical firms in particular, to focus more on commitment toward their employee as a reciprocal benefit for improving knowledge sharing culture in their organizations.


Purpose: This chapter discusses how pandemics affect the nature of financial reporting especially for financial and non-financial institutions that were deeply affected by the 2020 coronavirus (COVID-19) outbreak.

Method: This chapter presents a reflective discussion of the accounting practices and financial reporting options for firms during a pandemic, ­focusing on the interface between financial reporting and pandemics.

Findings: Accounting practices or techniques such as fair value accounting, big-bath accounting, loss avoidance, and income smoothing t­echniques can help to dampen the effect of a pandemic on firm performance.

Practical Implications and Significance: Some implications about the merits and risks of accounting during pandemics are highlighted and discussed.

Originality: Although the coronavirus COVID-19 crisis is, to some extent, still unfolding, there is limited empirical evidence on the implication for accounting.


Introduction: The world has become a global village with the development of globalization, technology, transportation opportunities, and socioeconomic living conditions. Multinational, multicultural businesses have been formed with the effect of globalization. Tourism activities have also gained a global dynamic. People from different cultures travel to different geographies for different purposes, and this highlights the need for managers and employees of tourism businesses to adapt to people from different cultures and multicultural environments.

Aim: In order to achieve success in intercultural communication, it is necessary to work with employees with a high level of intercultural sensitivity. Respect for different cultures without prejudices is very important in hotel businesses to provide quality service. For this reason, the high level of intercultural sensitivity of the employees in tourism businesses, which have a multicultural structure both with their customers and managers, will significantly affect their competitiveness in the sector. The aim of this study is to examine the intercultural sensitivity level of department managers working in hotel businesses according to some demographic features.

Method: The data collected via a survey were analyzed with statistical software. Frequency, percentage, etc., descriptive analysis and difference tests were performed.

Result: Intercultural sensitivity levels of hotel managers were examined according to some demographic characteristics. It was revealed that intercultural sensitivity levels of the managers working in hotel enterprises who participated in the research were far from ethnocentrism.

Implication: In the research, it was found that those who received tourism education respected intercultural differences more than those who did not receive any tourism education, and that they were affected by intercultural interaction more than those who did not receive any tourism education. For those working in the tourism sector, the recruitment of qualified personnel who received tourism education is important in order to achieve intercultural communication.

Originality of Study: The research was conducted on the department managers working in 4 and 5-star hotel enterprises in Marmaris and Bodrum districts of Muğla Province. There are a very limited number of studies in terms of determining the intercultural levels of employees and managers in hotel enterprises and examining them according to demographic characteristics. The research achieved results supporting similar studies. It is deemed significant in terms of determining according to which variables the concept of intercultural sensitivity differ and achieving results that can be generalized. Furthermore, the results which emphasized the importance of intercultural communication in the recruitment of the employees who received tourism education within the sector were also obtained.


Introduction: It is commonly observed that the ratio of food prices during the war times had become significantly more important than usual periods within the countries including Turkey, known as the Ottoman Empire that previously defeated in Balkans just before the Great World War. The scope of the study is to analyze increased or decreased wheat prices together with price fluctuations during the war period.

Aim: This study investigates the food pricing progress during The Great World War and its relationship with wheat prices.

Method: A model for the behavior of time series is applied to compare the important days of the war data against the timeline of wheat prices for British, German, and French. The statistical test named Holt–Winters uses exponential smoothing technique to encode the various values from the past and predicts “typical” values for the present and the future.

Findings: As a result, it can be said that wheat prices had anomaly patterns during the specific dates in war for French, British, and German sides. Great Britain’s wheat prices increased significantly on April 1915 when landings began on the Gallipoli Peninsula. Wheat prices in Great Britain and Germany dropped significantly just before on July 1916 when the first Battle of the Somme began. However, it increased in Great Britain whilst decreased considerably in Germany in March 1918 when the Soviet Government signed a separate peace agreement with the Central Powers. A significant increase for France was observed only at the end of this war.


Introduction: Data of companies in the Informatics index between 2008 and 2017 fiscal years were analyzed. In the analysis, the following ratios were used as traditional performance evaluation criteria: Return on assets, return on equity, earnings per share, price to earnings ratio, market to book value ratio, and return on sales rate. In addition, economic value added (EVA) was also used. The companies in the Informatics index are divided into sub-sectors according to by field of activity. These sub-sectors are software, communication, and hardware marketing.

Aim: To analyze the power of traditional performance evaluation methods to explain the market value added (MVA).

Method: Regression analysis and autocorrelation tests were used as research methods. These were done with IBM SPSS Statistics 25.

Findings: Models and rates that explain the MVA with the most meaningful results were calculated. These models and ratios are as follows: For the software sub-sector, a market to book value ratio was 77.8%; for the hardware marketing sub-sector, earnings per share was 65.4%; for the communication sub-sector, a market to book value ratio was 92.5%. Market to book value was the independent variable that describes the best MVA value of the two sub-sectors.

Originality of the Study: In this study, the average of the values of all companies in the BIST Informatics Index is not taken. By dividing into sub-sectors, value deterioration from the sector difference is prevented. It is stronger in terms of statistical science.

Implications: Researchers can look for and model the relationship between traditional evaluation criteria and EVA or other value-based evaluation criteria in the same index or other indices.


Social capital (SC), emerging as a new type of capital with 1980s, is defined as resources such as knowledge, opportunities, power, goodwill, and cooperation, achieved by means of interpersonal relationships. Businesses in possession of these resources will clearly gain an economic competitive advantage. This study was designed to determine how SC affects survival skills of businesses in economic competition. In this study, where qualitative research methods were used, data were obtained through semi-structured interviews with 40 micro- and small business owners, most of whom are second and third generations, operating in Antakya Long Bazaar, and three managers in charge of the management of Long Bazaar. Interviews were recorded with a voice recorder and note-taking technique. After transcription of voice recordings, the researchers coded and categorized the raw data and obtained themes and subthemes. Obtained data were analyzed with MAXQDA 20 software. In line with the performed qualitative analysis, responses of owner-managers were categorized in trust, trust promoting mechanisms (establishments, norms, and sanctions), network participation, collective action and cooperation, and learning aspects of SC. Questions on identification of variables and structural characteristics, which are prominent in determination of SC, were addressed to managers in charge of the management of Long Bazaar, thereby revealing the situation pertaining to the general structure.


Introduction: Although the concept of energy security has different meanings for each country, it is included in the energy policies of all countries in general. Energy security policies have more strategic importance especially for energy-importing countries. Imported energy sources are widely used in Turkey as in many countries. The variety of imported energy sources and the density of imports according to the imported countries affect the security of imported energy supply. Although the high density of imports is a risk factor, there are political and structural factors that may affect economic relations with the countries where energy is imported.

Aim: The aim of this study is to measure the short-term risk for the import of fossil resources in Turkey for the period 1999–2018.

Method: An index has composed by revising the risky external energy supply index included in the study of Le Coq and Paltseva (2009).

Findings: Empirical findings showed that on average, the most risky source of imports based on fossil resources is oil, followed by natural gas and coal respectively.

Originality of the Study: Various risk factors such as fossil fuel import intensity, political risk, and logistics performance have been taken into consideration in the proposed index. So this index proposed for Turkey, is expected to offer a different perspective to the energy supply security literature.

Implications: The proposed risk index has enabled the measurement of the level of risk in imported fossil sources in Turkey. Thus, policy implications have been made for energy supply security.


Introduction: Nowadays, corporate social responsibility (CSR) activities carried out by companies to create a positive corporate image and a good reputation on target audiences have lost their credibility. Target audiences perceive these companies as “doing as if they are doing” CSR activities. It is effective for companies to carry out works that put them in a good light, cover the back of the showcase, make their ways appealing, cover some facts, polish their image, and carry out works that do not aim to create value or benefit.

Purpose: The purpose of this study is to reveal that the intellectual company model is an alternative model to CSR studies.

Methodology: This study consists of two parts. The first part will focus on CSR understanding and will be handled with a critical perspective; the second part will discuss, through a theoretical framework, the concept of the intellectual company for sustainable economic, environmental and social development and the intellectual company will be examined.

Findings: The results of the study are as follows. (i) It was determined that the intellectual company made sustainable contributions on economic, social, and environmental issues. (ii) Sustainability is central to the intellectual company’s work on social and environmental issues. The intellectual company model is an alternative model to CSR studies. The intellectual company will make more positive contributions to social and environmental issues as it focuses on sustainability. This will affect consumer trust positively and increase brand loyalty.


Introduction: As internet and communication technologies are getting developed, the commercial transaction is becoming more electronic. This change also brings new approaches to new payment mechanisms like emergence of crypto currencies. They are virtual and digital currencies which can only be used in electronic environment but they are increasingly treated as a new payment and investment tool. Nevertheless, their use has not spread into the general public, yet. At this point, it will better to take the complex nature of the crypto currencies into consideration because it may still lead to some risks for people and the type of the risks perceived by consumers may influence their attitudes toward and intention to use crypto currencies.

Aim: Accordingly, this study attempts to examine the interaction between perceived risk, attitudes toward and intention to use crypto currencies within the context of Bitcoin, as the first crypto currency.

Method: This study was designed as a causal research. The sample of the study was reached by using convenience sampling method and data were collected with survey. The compiled data were tested with Structural Equation Model.

Findings: A statistically significant and negative relationship was found between perceived financial, time and psychological risk and attitudes toward the use of Bitcoin, and a statistically significant and positive relationship was found between attitudes toward and intention to use Bitcoin. The findings of the study are expected to contribute to both relevant literature and practice by explaining the financial behavior of the individuals within the context of perceived risk theory.


Introduction: As a type of poverty, relative poverty can be defined as being below the average welfare of society. Basic needs can be afforded, but individuals can’t take advantage of the welfare created by society. Today coding the reflection of welfare, sharing experiences has new meanings by new social media means. Instagram is especially preferred in visual sharing because of its filter options, live feed, or story mode. These features help the message sender to increase the effect of the message and the receiver to understand the reality with its different dimensions. It is not shocking that the images of welfare and its indicators are shared increasingly in social networks because storytelling in this media is fed. The visual strengthening is underlining the possession of the owner and the deficiency of the non-owner from their perspectives.

Purpose: This study examines the emotional effects of ideal life images shared on Instagram on other individuals. The aim is to reveal and define the meaning ascribed to such fractions of life with a visual appeal by people who cannot lead this kind of life.

Methodology: In accordance with the Social Learning Theory, the study assumes that people with relative poverty take notice of their own poverty through social media. The study investigates the emotions manifested by individuals who take notice of the things that they lack through social media. Thus, a qualitative study was designed and conducted using a phenomenological approach. The phenomenon of this study is failing to have. The objective of the study is to understand and determine what the individuals who do social comparisons feel they lack. For this purpose, the fundamental research questions of this study are as follows: RQ1: What are the main categories of Instagram posts that evoke a sense of deprivation in individuals?; RQ2: What do glamorous Instagram posts mean to individuals who are above the relative poverty threshold? The data gathered via the in-depth interview technique were analyzed using the computer-assisted qualitative analysis program (MaxqDa 2020). Qualitative content analysis and descriptive analysis were the forms of analysis used in the study.

Findings: The fact that there are negative links between passively consuming information on social media and well-being is supported by previous studies. This study exposes the experiences of “failing to have” due to upward social comparison in individuals who are above the relative poverty threshold in Turkey. The categories of shared content that evoke the feeling of deficiency in the participants are as follows: Travel/vacation, participation in social life, physical attractiveness, material possessions, and professional/academic career. The participants of the study are individuals who are above the relative poverty threshold for Turkey. The participants want to have “more than what they already have.” For this reason, it can be suggested that the main keyword summarizing the findings of the study is “more.” The study demonstrates that failing to travel and participate in social life deeply affects the participants and causes them to experience negative emotions.


Purpose: This chapter discusses the need for climate change risk mitigation and why it is not the responsibility of Central Banks to mitigate climate change risk.

Methodology: This chapter uses critical discourse analysis to explain why central banks should not have the responsibility for climate change risk mitigation.

Findings: This chapter argues that the responsibility for managing climate change risk should lie with elected officials, other groups and institutions but not Central Banks. Elected officials, or politicians, should be held responsible to deal with the consequence of climate change events. Also, international organizations and everybody can take responsibility for climate change while the Central Bank can provide assistance – but Central Banks should not lead the climate policy making or mitigation agenda.

Implication: The policy implication is that the responsibility for climate change risk mitigation should be shifted to politicians who are elected officials of the people. Also, international climate change organizations or groups can take responsibility for mitigating the climate change risk of member countries. Finally, citizens in a country or region should have equal responsibility for climate change. Climate information should be provided to every citizen to help them prepare for future climatic conditions.

Originality: This chapter propagates the idea that Central Banks should take a lead role in dealing with the problems of climate change. This chapter is the first chapter to contest a Central Bank-led climate change risk mitigation agenda.


Purpose: The main purpose of this chapter is to thoroughly investigate the diverse literature available concerning nonperforming loans (NPLs) and its determinants by studying and analyzing the empirical studies from 1985 to 2019.

Design/Methodology: A qualitative approach is being incorporated, and by using content analysis, various previous studies are reviewed and important issues like the objectives, methodology, key findings, and variables are reported.

Findings: The study tries to compile the main findings from the various studies done concerning NPLs and its determinants. The study shows how various determinants both bank-specific and macroeconomic affect the banking structure and thus the NPLs, in different countries and at different periods of time. The study also highlights how countries’ banking structure got affected by various economic phenomena like recession, contagious effect of the financial crisis, banking Basel norms, and NPL management strategies. Further major issues like data acquisition, lack of data reporting, countries specific banking conditions, methodologies used in the analysis, scarce resources, and disclosure hindrance which are faced by previous studies were also reported.

Originality/Value: As there are very few studies that provide a detailed viewpoint on NPLs and its determinants in this area, this research will provide a concise and detailed framework for the researchers to analyses the diverse literature on NPLs and its determinates.


Purpose: This chapter discusses some policy options that central banks may find useful in dealing with climate change risk in the financial sector.

Methodology: This chapter uses discursive analysis to suggest policy options which central banks can use to deal with the risk of climate change in the financial sector.

Findings: Five policy options are proposed in the chapter, which includes: imposing a climate change capital surcharge; impose a fixed-rate risk capital – based on Tier 2 capital; a reduction in lending to industries whose activities destroy the environment and climate; creating a climate bank; and requiring financial institutions to relocate their important assets to areas less prone to climate change events.

Implication: Several policy experiments are needed to identify the best policy option that works best for each country while taking into account the unique financial sector, financial system, and climate change history of each country.

Originality: Central banks play an important role in regulating the financial sector and in managing its inherent risks, yet there are no studies that suggest policy solutions to help central banks and other financial sector regulators deal with the risk that climate change poses to the financial sector. This chapter suggests policy options that central banks can use to deal with the risk that climate change poses to the financial sector.


The objective of this chapter is to study the symmetric and asymmetric impact of macroeconomic variables on the Indian stock prices (SPs) of the Bombay Stock Exchange index. This chapter further investigates whether the asymmetric impact of macroeconomic variables on SP is due to the impact of any tail events like the global financial recession. An autoregressive distribution lag and non-autoregressive distribution lag approach is used for the full sample covering the period from January 2000 to June 2019 and later this sample is further subdivided into before and after the crisis period to study the variations in result. The findings show that macroeconomic variables and SP have a symmetric relation in the long run whereas an asymmetric relationship in the short run when the whole sample is analyzed. However when data are segregated into “before and after” crisis period this relationship turns to be asymmetric in long run too, meaning that in the long run, the negative and positive changes in a macroeconomic variable do not affect SPs similarly.


Purpose: Ethical investing is considered to be the pinnacle of embedding environmental considerations in investing. Environmental considerations form a major part of corporate social responsibility (CSR), and CSR is considered to have a positive effect on investment returns. The purpose of this chapter is to assess the degree of environmental considerations embedded in faith-based funds investment criteria. The comparative analysis between principles and practice through faith-based investing is undertaken.

Design/Methodology: Prospectuses of selected faith-based mutual funds and other information around investment strategies provided on the Funds’ websites have been analyzed in detail. Content analysis has been undertaken in order to evaluate the existence and types of environmental related criteria demonstrated by the Funds. The criteria are compared to the faith principles on environmental responsibility.

Findings: It is generally assumed that CSR requirements form the premise of socially responsible investing. The authors find that faith-based investing criteria are narrowly defined and that they represent biases which do not promote environmentally responsible investing.

Implications: The major implication is that inspite of the availability of faith-based environmental responsibility principles, faith-based funds represent a case of economic returns prioritization over environmental considerations. Environment accountability principles that exist need to be promoted regularly so that they become an essential element of every day decision-making including faith-based economic decision-making.

Originality: This study contributes to the debate on ethical investing from the perspective of faith-based mutual funds.


Introduction: Digitalization has become crucial in our daily lives. The rapid rise of new technologies and high interest levels of individuals enforces companies to invest in these technologies. Nowadays, as customers are willing to try new experiences, companies dynamically start to find new ways to develop their products and services. One of the most popular technologies used by companies to improve their services is the Internet of Things (IoT) technologies. Education, health, transportation, retail, and energy are some of the industries in which the IoT is frequently being used. As security concerns of individuals arose and willingness to remote control increases, innovative and technological projects with IoT applications are engaged in the construction and real estate sector.

Aim: The purpose of this chapter is to explore IoT applications within the new generation smart home systems. In this framework, the effect of IoT technologies on architectural structure of the smart home and operating systems as well as IoT and mobile-supported customer-focused applications and difficulties are analyzed.

Method: The study is designed as an exploratory study. The data are obtained from face-to-face interviews with companies operating on technology-based commercial and residential projects. Descriptive analysis method is used to analyze data. Sample selection was carried out by the judicial sampling technique.

Findings: The results showed that smart home systems offer several customer-oriented experiences to their users like personalized accessibility, comfort, time control, and energy savings. Wired and wireless communication protocols are included in the architecture of the system. Linux core software-based Android and iOS operating systems are used in order to enhance personal accessibility. However, some difficulties are noticed in the sector. Lack of information and internet infrastructure of companies that install electrical set-up are mentioned. Contractors, after sales service support, and customer-oriented applications are evaluated.


Purpose: This chapter analyzes several indicators of financial inclusion in Nigeria.

Method: This chapter uses trend analyses to examine the indicators of financial inclusion in Nigeria.

Findings: The findings reveal that people with a secondary education and unemployed people had higher levels of debit card ownership, higher levels of account ownership of any type, and higher levels of account ownership in a financial institution. Borrowings from family or friends decreased during the period. The level of savings and borrowings was higher for adults with at least a secondary education while the level of savings, using a savings club or persons outside the family, decreased among females, poor people and among people with a primary education. Credit card ownership was low among unemployed people, while credit card ownership was much higher among employed people, the richest people and among people with at least a secondary education. Finally, borrowings and savings using family, friends, or saving clubs significantly contributed to economic growth than borrowings and savings through financial institutions.

Implications: It shows that Nigerian authorities should increase the number of formal account ownership by removing obstacles such as income and education bias and gender discrimination in the delivery and use of financial services.

Originality: Recent studies in the literature have investigated financial inclusion in developing economies, but little attention has been paid on the determinants and challenges of financial inclusion in Nigeria. This chapter aims to fill this gap by providing a comprehensive understanding and analysis of financial inclusion in Nigeria.


Introduction: Turkish cement industry, which sustains growth trend between the years 2015 and 2018, is the biggest cement producer of Europe besides the growth success. Production trend in cement industry reversed after the decrease in the value of Turkish Lira and increased inflation in 2018. The data of this industry, which contributes to Turkish economy directly and indirectly, have become one of the leading indicators.

Aim: From this point of view, 17 cement industry firms which are traded in Borsa İstanbul equity market continuously are examined in terms of their Earnings Before Interest, Taxes, Depreciation, and Amortization, Cash Conversion Cycle (CCC), Export Rate Ratio and Gross Sales. These variables are analyzed between the period 2013:Q1 and 2019:Q2.

Method: Independent variables in the models are Industry Production Index (IPI), CBRT Dollar/TL selling rate of exchange, Tangible Asset Ratio, Growth Rate, Financial Leverage Ratio, Current Ratio, Market-to-Book Ratio (MB), Price-to-Earnings Ratio (PE), and Return on Equity (ROE).

Findings: According to panel regression results, Dollar/TL exchange rate is the unique independent variable that affects four dependent variables. While Dollar/TL exchange rate negatively affects Earnings Before Interest and Taxes and Gross Sales, it positively affects CCC and Export Rate. MB ratio positively affects CCC. In contrast, IPI, Tangible Asset Ratio, and Financial Leverage Ratio negatively affect CCC. Export ratio is negatively affected both by IPI and PE ratio. While MB ratio negatively affects Gross Sales ratio, IPI, Tangible Asset Ratio and Growth Rate positively affect it.


Purpose: This chapter proposes a number of measures for financial inclusion and financial exclusion.

Method: The author use ratio analysis and statistics to develop several indices of financial inclusion.

Findings: This chapter finds that there are several indices of financial inclusion that can contribute to inform policy making in the financial inclusion agenda.

Implications: The indices developed in this chapter can help policymakers toward designing better financial inclusion policies and can provide feedback and insight to policy makers to improve current financial inclusion policies.

Originality: The literature on financial inclusion and exclusion lacks a comprehensive index that measures the extent of financial inclusion and exclusion across countries. This chapter attempts to fill this gap by proposing some index or indicators of financial inclusion and exclusion.


Purpose: This chapter addresses the main issues about regulation and protection of competition in Kosovo, with particular attention given to the control of enterprises concentration. The importance of controlling concentrations is based on the fact that enterprise concentration, whether local or international, can produce unequitable market conditions, creating monopolistic positions for some. Therefore, control of access from the Competition Authority is necessary, in order for competition to a level playing field for all.

Design/Methodology/Approach: The authors carried out a desk review of academic literature, the national reports provided by the competition authority and international institutions, competition law and other available important data. This is to determine and highlight the development of economic competition and control of concentrations, for example regulation and supervision in Kosovo and to determine whether this is in line with European Union directives.

Findings: Findings show that competition in Kosovo is still at a phase of development and more is needed to improve and ensure an adequate competition regime in accordance with EU regulations and practices. Significant efforts are necessary to improve legislative alignment and enforcement, specifically on control of mergers and acquisitions.

Practical Implications: The authors herein propose a few measures to be undertaken in order to ensure the effective implementation of the law on the protection of competition and the market economy.

Originality/Value: The authors define the needs for strengthening and the implementation of Competition Law in Kosovo, such as undertaking the proper coordinated steps in order to have adequate competition authority.


Purpose: The purpose of this study is to explore the role of internal branding (IB) in fostering branding citizenship behavior in the hospitality context as well as the mechanisms underlying the relationship.

Design/methodology/approach: This study obtained empirical evidence from 377 hotel employees in North Cyprus.

Findings: Our findings support the positive relationship between IB and brand citizenship behavior (BCB). The evidence was found for a dual and sequential mediating role of brand trust and brand commitment. Moreover, the organizational climate serviced as a moderator to influence the positive relationships between IB and BCB.

Practical implication: This study has shown that employees are rewarding firms involved in IB initiatives in the form of BCB – directly and indirectly –through trust and commitment. This finding can advance managers’ understanding, enabling them to better manage their IB initiatives to achieve the most effective outcomes.

Originality/value: The research advances convergence between IB and BCB research streams, which has been under-explored in the tourism context. Besides, it extends the IB and brand citizenship literature through a novel dual and sequential mediation mechanism and organizational climate as a novel moderator.


Purpose: The aim of this study is to reveal the opinions of the auditors, academicians, and institutions that published integrated reports regarding the development and execution of the assurance process of integrated reports.

Design/methodology/approach: For this purpose, interviews were conducted using qualitative research technique to determine awareness about integrated reporting and combined assurance. Within the scope of the research, semi-structured interviews were conducted with six auditors, five academicians, and five workers in institutions that published integrated reports. Qualitative data analysis method was used to analyze the data.

Findings: As a result of the research, combined assurance process criteria were proposed in the integrated reports which in line with the opinions of the participants.

Originality/value: Institutions around the world are increasingly publishing integrated reports. However, when institutions publish integrated reports, there is no clear standard or any guidance on how to ensure the reliability of these reports. It is seen that AA1000, ISAE3000, GRI Standards, and some local standards are used to provide assurance. At this point, the combined assurance model can be used for the reliability of the information in the integrated reports. Integrated reporting and combined assurance are still relatively new concepts in Turkey. Furthermore, this study is important in terms of the lack of studies on how to provide combined assurance for integrated report when scanned related literature in Turkey. Although readily integrated reporting continued in Turkey, it continues to be an area of application is still under development. In particular, the research reflects the level of integrated reporting awareness and how to ensure assurance of these reports.

Cover of New Challenges for Future Sustainability and Wellbeing
Publication date
Book series
Emerald Studies in Finance, Insurance, and Risk Management
Series copyright holder