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The paper aims to investigate the role of corporate governance in the relationship between small businesses financing choice decisions on the business performance.

The paper was situated within the financial growth cycle theory and stewardship theory and survey approach was adopted for data collection. The statistical analysis was conducted by using partial least square structural equation modelling.

The results indicate that the interaction of corporate governance and financing choice decisions strengthens the performance relationship. Further, corporate governance mediates the positive relationship between financing choice decisions and performance. Thus, suggesting that corporate governance can carry the effect of the financing choice decisions to business performance.

The findings of our research reveal that, small businesses who follow solid corporate governance procedures should expect higher business performance. This is because financing decisions alone will not assure positive business performance unless they are tied to a broader perspective of effective corporate governance practices.

To the best of the authors’ knowledge, this is the first study that contributes to the small business financing choice and performance literature by combining the strengths of financial growth cycle theory and stewardship theory to explain the financing choice decisions and, in particular, the role of corporate governance in the relationship. Further, the study is unique in its nature because it presents a successful model for small businesses in emerging economies to concentrate more on the role of corporate governance in enhancing business performance.

The development of an effective corporate vision is a necessary issue for corporate performance, and it is a key issue for corporate sustainable development as well. The recognition of questions like “what is the role of corporate vision in corporate performance” is directly related to the attitude and practice of entrepreneurs and managers toward the development of corporate vision as well as the effectiveness of the corporate vision itself. To better answer the questions concerning the role of corporate vision development and effectively guide the practice of corporations, the authors study the pathways and mechanisms by which corporate visions operate to assist businesses in achieving high performance.

The article completes the construction of indicators to measure each dimension of the corporate vision in line with social cognitive theory and analyzes the relationship between corporate vision and corporate performance by combining qualitative comparative analysis (QCA) and necessary condition analysis (NCA) research methods. The article provides insights into the logic of constructing and adjusting corporate visions from a process perspective.

The mechanisms by which corporate visions can be articulated, accepted and transformed within the organization are also the means by which corporate visions can improve corporate performance. In a dynamic environment, the corporate vision setting and acceptance process integrates the requirements of various stakeholders, leading to the adjustment and acceptance of the corporate vision. As a result, the vision has continuous validity in a changing environment. Both start-ups and non-start-ups can benefit from the guidance provided by a strong corporate vision in overcoming a variety of issues and obstacles to produce strong business performance.

This is the first study that shows the relationship between corporate vision and corporate performance from a process perspective. The authors are interested in understanding which characteristics for building a corporate vision are more accepted by organizational members and, in turn, create high corporate performance. The authors also explore the conditions for corporate vision acceptance. This research has positive implications for shedding some light on the mechanisms by which corporate visions improve corporate performance.

The purpose of this paper is to investigate the impact of intellectual capital (IC) and its components (human, structural, relational and innovation capitals) on financial performance (FP) at different life cycle stages.

The study uses the data from Chinese manufacturing listed companies during 2014–2018. The modified value added intellectual coefficient (MVAIC) model is employed as the measurement of IC efficiency. Finally, multiple regression analysis is used to test the research hypotheses.

This study shows that the impact of IC on FP is different across life cycle stages. Specifically, at the birth stage, human capital (HC), structural capital (SC) and innovation capital (INC) have a positive impact on FP. At the growth and mature stages, all IC components contribute to FP improvement. HC and SC play an important role at the revival stage, while only HC positively affects FP at the decline stage.

The findings may help corporate managers to make optimal strategies to improve FP by effective utilization of IC resources in the complex and competitive business environment. Meanwhile, companies can invest in the core elements of IC at different stages of development, so as to maximize the contribution of IC to company value.

This is among the few studies to explore the impact of IC on FP of manufacturing listed companies in the Chinese context from the perspective of life cycle. It also makes novel contributions in measuring IC by the MVAIC model with the inclusion of relational capital and INC that are largely neglected in previous research.

This article offers a review of the literature on regional business cycles (BCs) in emerging economies. The objective is synthesizing the existing studies based on theoretical, empirical and methodological approaches.

The methodological framework includes the following stages: research questions, bibliography location, the selection of articles and the evaluation of the literature, analysis and synthesis, and the reporting and use of results.

The evidence suggests that expansionary phases last longer than recessions'; public expenditure shows a pro-cyclical behavior; and factors such as productive structure and international trade explain the synchronization of regional BCs.

Up until now, there is no research that performs a review of regional BCs in emerging economics.

To the best of our knowledge, no study has examined credit cycle synchronizations in the context of emerging economies. Studying the credit cycles synchronization across BRICS (Brazil, Russia, India, China and South Africa) countries is crucial given the magnitude of trade and financial integration among member counties. The enormity of the trade and financial linkages among BRICS countries and growth spillovers from emerging economies to advanced and low-income countries provide the rationale and motivation to study the synchronization of credit cycles across BRICS.

The study investigates the credit cycles coherence across BRICS economies from 1996Q2 to 2020Q4. The synchronization analysis is done using the noval wavelet approach. The analysis examines not only the coherence but also the extent of credit cycle synchronization that varies across frequencies and over time among different pairs of nations.

The authors find heterogeneity in the credit cycles' synchronization among the member nations. China and India are very much in sync with the other BRICS countries. China's high-frequency credit cycle mostly leads the other countries' credit cycles before the global financial crisis and shows a mix of lead/lag relationships post-financial crisis. Interestingly, most of the time, India's low-frequency credit cycles lead the member countries' credit cycles, and Brazil's low frequency credit cycle lag behind the other BRICS countries' credit cycles, except for Russia. The results are crucial from the macroprudential policymaker's perspective.

The empirical design is applicable to a similar set of countries and may not directly fit each emerging economy.

The findings will help understand the marked deepening of trade, technology, investment and financial interdependence across the world. BRICS acronym requires no introduction, but such analysis may help understand the interaction at the monetary policy level.

This is the first study that highlights the need to understand the credit variable interactions for BRICS nations.

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.

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.

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.

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.

The purpose of this paper is to discuss the pioneering work of the 19th-century French author Jean-Gustave Courcelle-Seneuil in developing a scientific perspective on management, whose origin is commonly associated with the contributions of Frederick Taylor and Henri Fayol.

Through a historical analytical approach and doing a parallel analysis with the origins of the economic theory, fragments of two works by Jean-Gustave Courcelle-Seneuil (1813–1892) are analyzed: The Theoretical and Practical Treatise on Industrial, Commercial and Agricultural Enterprises: A Business Manual (1855) and Ergonomics, the second part of the book Theoretical and Practical Treatise on Political Economy (1858), in which the author devotes a chapter to relevant aspects of management, such as entrepreneurship, production, human resources, finance and accounting.

In addition to noting the pioneering character of these contributions, particularly the emphasis on entrepreneurship, Courcelle-Seneuil’s argument favors in the 19th century a scientific approach to management, contradicting the belief of businesspeople of the time, according to whom management was something practical, impossible to be studied analytically.

This study indicates that looking to the past is essential to know what has already been produced in a particular field of knowledge. This return to the origins is fundamental to understanding how science evolves. Although management as a systematized field of expertise is usually dated to the beginning of the 20th century, there are reasons to expand on the influences that gave rise to this science, particularly regarding lesser-known but equally important contributions.

This study explores a lesser-known contribution to the origin of management theory and seeks to contribute to the study of the origin of the division of the fields of management science, its roots and its intersection with the economic science practiced in the half of the 19th century.

The authors explore the hypothesis that some movements in commodity prices are anticipated (news shocks) and can trigger aggregate fluctuations in small open emerging economies. This paper aims to discuss the aforementioned objective.

The authors build a multi-sector dynamic stochastic general equilibrium model with endogenous commodity production. There are five exogenous processes: a country-specific interest rate shock that responds to commodity price fluctuations, a productivity (TFP) shock for each sector and a commodity price shock. Both TFP and commodity price shocks are composed of unanticipated and anticipated components.

The authors show that news shocks to commodity prices lead to higher output, investment and consumption, and a countercyclical movement in the trade-balance-to-output ratio. The authors also show that commodity price news shocks explain about 24% of output aggregate fluctuations in the small open economy.

Given the importance of both anticipated and unanticipated commodity price shocks, policymakers should pay attention to developments in commodity markets when designing policies to attenuate the business cycles. Future research should investigate the design of optimal fiscal and monetary policies in SOE subject to news shocks in commodity prices.

This paper contributes to the knowledge of the sources of fluctuations in emerging economies highlighting the importance of a new source: news shocks in commodity prices.

The purpose of this study is designed to achieve the learning process in producing studies involving economic issues and scenarios in business management in Malaysia. In addition, this study will provide exposure to the integration of managerial skills by using both microeconomics and macroeconomics concepts and theories to aid decision-making in a business environment.

The research method comprised qualitative methodology of literature review, case study and quantitative methodology of multiple linear regression (MLR). In this case, seven microeconomics and macroeconomics factors which are believed to significantly affect house price index (HPI) are taken into consideration which includes gross domestic product, consumer price index (CPI), government tax and subsidy on housing, overnight policy rate, unemployment rate (UNEMP), the median income (INC) and cost of production index.

This research has resulted in three significant factors affecting HPI from MLR, which include CPI, UNEMP and INC where the increase of these factors will cause a high increment of HPI. The other four factors are not significant.

Malaysia has been facing the stagnancy in house market these recent years due to issues such as massive oversupply, impacting Malaysia’s economy specifically focusing on domestic direct investment. To avoid oversupply issues, the vitality of future house demand and pricing forecast should be comprehended by involved bodies for more effective planning for the house development industry. To make a better and bigger impact, this research is intended to analyse the microeconomic and macroeconomic factors affecting the HPI to better understand the significance of each of these factors to the changes of HPI to resolve these economic issues.