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Article
Publication date: 21 February 2024

Simon D. Norton

Free banking theory, as developed in Adam Smith’s 1776 treatise, “The Wealth of Nations” is a useful tool in determining the extent to which the “invisible hand of the market”…

Abstract

Purpose

Free banking theory, as developed in Adam Smith’s 1776 treatise, “The Wealth of Nations” is a useful tool in determining the extent to which the “invisible hand of the market” should prevail in regulatory policy. The purpose of this study is to provide a timely review of the literature, evaluating the theory’s relevance to regulation of financial technology generally and cryptocurrencies (cryptos) specifically.

Design/methodology/approach

The methodology is qualitative, applying free banking theory as developed in the literature to technology-defined environments. Recent legislative developments in the regulation of cryptocurrencies in the UK, European Union and the USA, are drawn upon.

Findings

Participants in volatile cryptocurrency markets should bear the consequences of inadvisable investments in accordance with free banking theory. The decentralised nature of cryptocurrencies and the exchanges on which these are traded militate against coordinated oversight by central banks, supporting a qualified free banking approach. Differences regarding statutory definitions of cryptos as units of exchange, tokens or investment securities and the propensity of these to transition between categories across the business cycle render attempts at concerted classification at the international level problematic. Prevention of criminality through extension of Suspicious Activity Reporting to exchanges and intermediaries should be the principal objective of policymakers, rather than definitions of evolving products that risk stifling technological innovation.

Originality/value

The study proposes that instead of a traditional regulatory approach to cryptos, which emphasises holders’ safety and compensation, a free banking approach combined with a focus on criminality would be a more effective and pragmatic way forward.

Details

Journal of Financial Regulation and Compliance, vol. 32 no. 2
Type: Research Article
ISSN: 1358-1988

Keywords

Book part
Publication date: 16 May 2024

John Holland

How can large international financial firms go green in authentic ways? What enhances ‘Net Zero action’? Changes in global banks, fund managers, and insurance firms are at the…

Abstract

How can large international financial firms go green in authentic ways? What enhances ‘Net Zero action’? Changes in global banks, fund managers, and insurance firms are at the heart of green finance. External change pressures – combined with problematic firm predispositions – exacerbate barriers to change and promote scepticism about authentic Net Zero change. Field research reveals main elements, connections, and interactions of this question by considering financial firms as complex socio-technical systems (Mitleton-Kelly, 2003). An interdisciplinary/holistic narrative approach (De Bakker et al., 2019) is adopted to design a conceptual framework that can support a green ‘behavioural theory of the financial firm’ (green BTFF). The BTFF presents an international version (Peng, 2001) of the resource-based view (RBV) of the firm (Barney, 1991; Hart, 1995; Teece et al., 1997).

The approach of this chapter is aimed at closing knowledge gaps and realign values in financial markets and society. By raising awareness about organised hypocrisy and facades (Brunsson, 1993; Cho et al., 2015; Schoeneborn et al., 2020) in financial firms the chapter aims at overcoming the gap between ‘talking’ and ‘walking’ in the financial sector. The chapter defines testable firm-level hypotheses for ‘Green Finance’ (Poterba, 2021) as well as – by implication – tests for ‘greenwashing’.

Details

Walking the Talk? MNEs Transitioning Towards a Sustainable World
Type: Book
ISBN: 978-1-83549-117-1

Keywords

Open Access
Book part
Publication date: 21 May 2024

Marloes van Engen and Brigitte Kroon

Little research is devoted to how salary allocation processes interfere with gender inequality in talent development in universities. Administrative data from a university…

Abstract

Little research is devoted to how salary allocation processes interfere with gender inequality in talent development in universities. Administrative data from a university indicated a substantial salary gap between men and women academics, which partially could be explained by the unequal distribution of men and women in the academic job levels after acquiring a PhD, from lecturer to full professor, with men being overrepresented in the higher job levels, as well as in the more senior positions within each job level. We demonstrated how a lack of transparency, consistency and accountability can disqualify apparent fair, merit-based salary decisions and result in biased gender differences in job and salary levels. This chapter reflects on how salary decisions matter for the recognition of talent and should be an integral part of talent management.

Article
Publication date: 13 May 2024

Ahmed A. Elamer and Misaki Kato

This paper aims to delve into the nuanced relationship between corporate governance dynamics, human capital disclosure and their impact on the competitive positioning of Japanese…

Abstract

Purpose

This paper aims to delve into the nuanced relationship between corporate governance dynamics, human capital disclosure and their impact on the competitive positioning of Japanese listed companies. The study primarily examines how these factors influence employee engagement, a critical determinant of overall business competitiveness.

Design/methodology/approach

Panel data for Japanese listed companies for FY 2019 to FY 2021 were analysed using multiple regression analyses with two models.

Findings

The results indicate that the presence of independent and female board members has a positive impact on human capital disclosure. Surprisingly, employee engagement was found to be negatively related with human capital disclosure, signifying a potential trade-off between transparency and engagement.

Originality/value

Amidst the escalating emphasis on non-financial information and corporate social responsibility, this paper unveils a previously underexplored aspect of Japanese corporate competitiveness. Specifically, this study offers a fresh empirical perspective on the relationship between corporate governance, human capital disclosure and employee engagement in Japanese listed companies, a topic with limited academic research and no legal regulations in Japan. The findings have significant implications for companies seeking to enhance their human capital disclosure and employee engagement practices, especially in light of the growing focus on non-financial information and social responsibility.

Details

Competitiveness Review: An International Business Journal , vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1059-5422

Keywords

Article
Publication date: 28 February 2024

Abdallah Abdul-Salam, Ibrahim Osman Adam, Muftawu Dzang Alhassan, Abubakar Gbambegu Umar and Joshua Nterful

This study aims to examine the linkages between digitalisation, public service delivery and corruption in Ghana using survey data from 121 respondents in Ghana. The authors also…

Abstract

Purpose

This study aims to examine the linkages between digitalisation, public service delivery and corruption in Ghana using survey data from 121 respondents in Ghana. The authors also examine the mediating role public service delivery offers on corruption.

Design/methodology/approach

This study relied on the capability theory as its theoretical lens and partial least squares structural equation modelling (PLS-SEM) as the data analysis technique.

Findings

Results from the PLS-SEM analysis show that public service delivery significantly reduces corruption, whilst digitalisation does not. However, public service delivery significantly mediated the relationship between digitalisation and corruption.

Research limitations/implications

This study’s limitation is that the data was collected from Ghana only. To enhance the generalisability of findings, future research could collect data from multiple countries. In addition, the study did not factor in the moderating effects of demographic variables such as information and communication technology (ICT) literacy. Future research could consider these variables, given the low ICT literacy level of individuals in developing countries. Finally, future researchers could triangulate results with interviews and focus groups to provide more value to the identified questionnaire-based data.

Practical implications

The findings of this study highlight the need for digitalisation to be included in Ghana’s national policy objectives and service delivery objectives. It is essential for the government to ensure broader public engagement with stakeholders, including citizens, to ensure that digitalisation goals are achieved. The study’s results indicate that digitalisation does not significantly influence corruption. This calls for the government of Ghana to consider raising the level of human capital for the successful planning and deployment of e-services. This includes raising citizen ICT literacy and adopting cutting-edge technology to fully realize the benefits of online services. Developing capabilities, e-government leadership, and public sector employees as enablers of online public services should go hand-in-hand. It is also important to build connected capacities in the country and enhance access to information and technology, along with increasing digital infrastructure.

Originality/value

To the best of the authors’ knowledge, this is the first study to examine and offer a dual perspective on the role of digitalisation on public service delivery and corruption whilst considering the mediating role public service delivery offers on corruption.

Details

Transforming Government: People, Process and Policy, vol. 18 no. 2
Type: Research Article
ISSN: 1750-6166

Keywords

Article
Publication date: 27 October 2022

Dimos Chatzinikolaou and Charis Vlados

This paper aims to explore how the owners of less competitive micro-firms (MFs) perceive the “crisis–innovation–change management” triangle. It examines whether their…

Abstract

Purpose

This paper aims to explore how the owners of less competitive micro-firms (MFs) perceive the “crisis–innovation–change management” triangle. It examines whether their understanding of these overarching entrepreneurship theory principles is inadequate compared to the relevant scientific literature.

Design/methodology/approach

This qualitative analysis follows principles based on the inductive method and grounded theory, thickly describing the results from research conducted in a sample of 38 tertiary-sector MFs in the Eastern Macedonia and Thrace region – one of the least developed and competitive areas across Europe. It triangulates the data with 11 respective small firms.

Findings

MF owners perceive the crisis as an ostensibly exogenous phenomenon, innovation as something quasi-unattainable – although vaguely significant – and change management as a relatively unknown process. This understanding lies somewhat distant from the extant literature that examines the structural nature of crises, the innovational power to exit profound restructurings and the rebalancing requisite for building new overall organizational methods to survive this internal–external transformation. In essence, the triangle crisis–innovation–change management is a blind spot for the examined MF owners as they ignore its significance as an adaptation mechanism – contrary to several direct competitors.

Social implications

Based on the reluctance of these individuals to cultivate their systematic business knowledge, it seems unrealistic that they would seek to pay the necessary high price for business consulting in the future. An ideal solution would be to build public entrepreneurship clinics to provide these less dynamic and adaptable organizations with free preliminary or in-depth counseling. The Institute of Local Development-Innovation could aim to provide free consulting services to reinforce organizational physiology by coordinating different socioeconomic actors.

Originality/value

To the best of our knowledge, this empirical research is one of the first to test the comprehension of weaker MFs – less competitive and developed in organizational terms – to the triangle crisis–innovation–change management.

Details

Journal of Entrepreneurship in Emerging Economies, vol. 16 no. 3
Type: Research Article
ISSN: 2053-4604

Keywords

Book part
Publication date: 13 May 2024

M. Alex Praveen Raj, D. Nelson and M. Anand Shankar Raja

Purpose: The COVID-19 pandemic has been a good example of a Volatility, Uncertainty, Complexity, and Ambiguity (VUCA) world. Higher educational institutions (HEIs) have faced a…

Abstract

Purpose: The COVID-19 pandemic has been a good example of a Volatility, Uncertainty, Complexity, and Ambiguity (VUCA) world. Higher educational institutions (HEIs) have faced a massive hit because the jobs in this industry have become unexpected. Considering the most valuable assets ‘Teachers’ crunched in the VUCA crisis, the study intends to determine if personal harmony (PH) and organisational citizenship behaviour (OCB) would enhance teachers’ job satisfaction (JS).

Design/methodology/approach: Data are collected from the teachers of Indian HEIs and teachers who have experienced the impact of the COVID-19 catastrophe (VUCA). Considering the pandemic restrictions, data have been collected through an online survey (N = 364).

Practical Implications: PH is an individual’s internal quality and attribute that cannot be developed on force or situational need. Even in an uncertain situation, teachers have tried their best to contribute through professional service. Hence, people who possess PH contribute their best even though unsatisfied with their jobs.

Originality/value: This study has focused on finding the relationship between two different variables, PH and OCB (which has not been explored in Asian countries, majorly in India, where it has a vast cultural diversity and structure influencing the educational policies) that hinders the factors influencing JS, where these two variables are highly influenced by hygiene factors such as values, culture, ethical standards, personal belief, leadership styles, and fair treatment showcased by the organisations/institutions.

Article
Publication date: 13 February 2023

Adam Salifu and Abass Umar Abdul-Karim

While the causes and effects of begging are well known, solutions on how to eradicate begging are still elusive in many parts of the developing world. The purpose of this study is…

Abstract

Purpose

While the causes and effects of begging are well known, solutions on how to eradicate begging are still elusive in many parts of the developing world. The purpose of this study is to examine the different ways through which community leaders at the local level can contribute to the eradication of begging in one of Ghana’s most densely populated suburbs in the city of Accra.

Design/methodology/approach

This study was undertaken using the qualitative approach, and primary data was collected through interviews, participants observation and focus group discussions with beggars, community leaders and officials of non-governmental organisations at Nima, a suburb of Accra.

Findings

Begging in the suburb of Nima is increasingly becoming a business venture. It is no more an activity that is the preserve of only the weak, the poor, the elderly, the physically challenged, the needy and the marginalised in society. This paper argues that the eradication of begging requires multiple approaches and that community-based leaders must play a central role. This paper identified the provision of alternative sources of livelihood, the naming, shaming and condemnation of unjustified begging in the community, strict boarder control, returning foreign beggars to their home countries, the formulation and enforcement of community anti-begging by-laws and regular sensitisation programs on begging as crucial in reducing or eliminating begging.

Research limitations/implications

While focusing on one Muslim-dominated suburb in Accra ensures a detailed discussion of strategies of eliminating begging from a cultural and religious perspective, the findings of this study may not be applicable to non-Islamic settings and communities where cultural or religious leadership structures do not exist.

Practical implications

This study has demonstrated that the eradication of begging in society cannot have one-size-fit all solution. This paper shows that in societies where cultural and religious leadership structures exist, they must play important roles in the design and implementation of strategies that seek to reduce or eliminate religious begging in society. This implies that formal government agencies and their associated laws alone will not be enough to eradicate or reduce begging under such contexts.

Originality/value

Measures to eradicate begging have often ignored the role of community leaders. This paper contributes to our understanding on this by specifically examining the phenomenon of begging at the micro level and exploring the different ways community leaders can contribute to the eradication of begging in society.

Details

International Journal of Ethics and Systems, vol. 40 no. 2
Type: Research Article
ISSN: 2514-9369

Keywords

Book part
Publication date: 17 May 2024

Riyanka Bag and Ramesh Chandra Das

It has been already established that the countries that have opened their economies in advance have reaped more benefits compared to those who have done it late. For example, the…

Abstract

It has been already established that the countries that have opened their economies in advance have reaped more benefits compared to those who have done it late. For example, the countries of the West are far away from the countries of the East in terms of the per capita incomes as because, besides others, the magnitudes of trade openness of the former are higher compared to that of the latter. Besides countries, there are some economic groups such as European Union, Organization of Economic Cooperation and Development (OECD), etc. who have proved the similar growth impacts of trade. There is another group of highly developing economies, with the acronym of BRICS (Brazil, Russia, India, China and South Africa), which has proved as being highly beneficiaries of the trade liberalisation. But the magnitudes of trade openness and their impacts in these countries are subject to further explorations using modern data. The present chapter aims to compute trade openness using two different methods for the BRICS countries and make association of it with growth and foreign currency reserves (FCRs) for the period 1991–2019. In addition, the study examines whether the FCR is sustainable. It observes positive and negative correlations between economic openness and gross domestic product (GDP) growth and FCR in the member nations leading to mean that trade openness has definitely contributed to the growth as well as accumulation of FCRs. But, the trends in the FCRs are unsustainable in the BRICS nations.

Details

International Trade, Economic Crisis and the Sustainable Development Goals
Type: Book
ISBN: 978-1-83753-587-3

Keywords

Article
Publication date: 14 September 2023

Mohamad Handi Khalifah, Fatih Savaşan, Naimat U. Khan and Shabeer Khan

This paper aims to trace the contours of Islamic political economy (IPE) for last four decades with the help of bibliometric analysis. This method does not focus on in-depth…

Abstract

Purpose

This paper aims to trace the contours of Islamic political economy (IPE) for last four decades with the help of bibliometric analysis. This method does not focus on in-depth literature. However, it reviews more material content of the published papers in the field, generally including the number of publications, authors, title, H-Index and authors’ affiliation.

Design/methodology/approach

The authors use biblioshiny by R in conducting bibliometric analysis. Based on the results of analysis, the authors only found 39 relevant documents to the topic with the help of keyword of “Islamic political economy”. The authors analyse the data and visualize it into bibliometric images for the convenience of the readers.

Findings

There are 39 documents on IPE in the annual scientific production. The year 1980 had the lowest productivity at 3% while the year 2007 showed an increase in scientific productivity by 13%. The most significant increase in production occurred between 2014 and 2015 by 8%, while the most significant decline occurred between 2007 and 2008 by 10%. The most significant contributors are Akan, T., Choudhury, M.A. and Asutay, M. According to the Corresponding Author’s Country, the UK has eight articles on IPE. Humanomics is the most influential Journal, with six documents.

Research limitations/implications

This research only examines documents sourced from Web of Science and Scopus under the title “Islamic political economy” and does not include articles from other sources. This research has implications for future researchers and suggests a shift in recent research on IPE towards exploring current realities and expanding beyond traditional economic and political aspects. The goal is to gain a comprehensive understanding of Islam’s role in shaping economic and political systems, promoting inclusive sustainable development and social justice, and exploring its relationship with broader political and economic systems.

Originality/value

IPE has become a trendy topic in the early days, the second half of the 20th century, during the revival of the Islamic mode of finance and development. However, with time, the discussion on this topic appeared less in scientific and academic publications; this issue needs an overview of how far this discipline has evolved. This work aims to identify future research trends in this area. Scholars should investigate articles by author, institution, country, databases, data sources with high-impact factors and objective metrics to get new perspectives.

Details

Qualitative Research in Financial Markets, vol. 16 no. 3
Type: Research Article
ISSN: 1755-4179

Keywords

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