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This article highlights key aspects of capital management, including capital planning, capital budgeting, capital financing, decision making and capital spending outcomes. We provide a background discussion of public sector capital management, followed by a summary of the articles that comprise this symposium. Combined, these articles illustrate the complexity of and challenges to capital management at the state and local government levels. We discuss common themes that emerge from reading these articles as a collective symposium, including: (1) modest progress in applying and empirically testing theoretical frameworks; (2) the variety of actors and institutions; and (3) the deteriorating condition and poor performance of public infrastructure. We use the articles to illustrate gaps in the research and offer suggestions for future research on capital management theory and practice.

A neoclassical model of growth is augmented with the purpose of investigating the relationship between private investment, resource endowments, and corruption. It allows for the possibility that corruption influences the steady‐state growth rate through its impact on private investment, resource endowment management, human capital, and governance.

Corrupt environments critically affect long‐run sustainable economic development through the private investment decision. The groundwork may significantly contribute to emerging economies, particularly Middle East and North African countries with abundant natural resources. Understanding corruption is important for policy recommendations that can fuel the reform agenda. The theoretical model incorporates the potential direct impact and potential indirect effects of corruption on economic output by examining its influence on resource endowment management, the level of private investment and governance. The neoclassical approach is advantageous in that it allows for explicit incorporation of the indirect effects of corruption and potential tradeoffs.

One conclusion is that for highly corrupt countries, the marginal benefit to output of reducing corruption outweighs virtually any other policy action. The importance of strong governance as a mitigating force against corruption's negative effects is also highlighted. In addition, it indicates that the timing of reform efforts is significant.

The literature lacks a theoretical framework incorporating the potential indirect effect of corruption on output through resource endowment management and the direct effect of corruption through its impact on governance. The literature has only examined the hypothesized influences separately. The paper explicitly links corruption, resource endowments, private investment, and economic output.

The purpose of this paper, which is the first of a two-part series, is to build upon the established research on environmental economics and sustainability theory developed by Ramsey (1928), Weitzman (2007) and Gollier (2010). The Ramsey-Weitzman-Gollier model, with the contribution of Howarth (2009) and Nordhaus (2007a, b), focuses on discount rate development for environmental and long-term assets, linking discounted utility analysis embedded in the CCAPM model of Lucas (1978) to the policy concerns associated with the valuation of public and sustainable resources. This paper further investigates these issues to the rates structure appropriate for exhaustible resources with a particular emphasis on urban land, based upon the differentiation of strong and weak form sustainability concepts constrained by the objectives of the sustainable criterion of Daly and Cobb (1994).

The paper integrates the concepts of discount rate development for environmental and long-term assets and discounted utility analysis to the policy concerns associated with the valuation of public and sustainable resources. It develops new theoretical insight in order to allow the theoretical formulation of discount and capitalization rates that can be empirically applied and tested.

The paper provides theoretical support for a new approach concerned with the development of capitalization and discount rates in the valuation of non-renewable resources. A key concern of valuing non-renewable or limited resource endowments (in space or time) is the problem of irreversible investment or irrevocable decision implementation as suggested by Arrow-Fisher (1974), Krautkraemer (1985) and Daly and Cobb (1994). It investigates the challenge with developing capitalization rates and valuation of depleting resources temporally, within the constraints of sustainability. To achieve this, an optimal control discounting procedure subject to a sustainable objective statement is employed – in this context it suggests that sustainability should be treated as an alternative to traditional growth and the maximization of near-term returns.

This paper extends the construct of developing rates structures appropriate for the valuation of exhaustible resources. It places a conceptual emphasis on urban land development. The measures developed and the insights gained may serve as a basis for future research on the optimal levels of sustainable development appropriate for different nations.

Over the past thirty years or so, a body, albeit a somewhat disarticulated body, of evidence on the work of managers has accumulated. The field of study which has given rise to this evidence is, from time to time, subject to ‘internal’ criticisms by some of its own practitioners (Luthans and Davis 1980, Marples 1967, Mintzberg 1973, Stewart 1983) whose main contention, predictably, is that the studies do not, methodologically or analytically, always live up to their self‐imposed project. The studies in short are upbraided for what they have imperfectly done. In an earlier paper (Hales 1986) I sought to extend and add to these criticisms of studies of managers' work. I argued that the studies fail to distinguish, within the vague term ‘managerial work’, between: first, ‘management’ as a process and ‘managers’ as a particular category of agents; second, managerial work as a totality and managerial jobs as clusters of that (and other) work; third, what managers are required to do (role definition) and what they actually do (role performance) and fourth, the outputs and purpose of managerial work (managerial tasks and responsibilities) versus the inputs and practice of managerial work (managers' behaviour and activities). These ambiguities are, I suggested, symptomatic of a rather narrow empiricist approach and failure adequately to theorise the ‘management’ which managers are, apparently, doing. In this way, I wanted to arrive at, rather than merely assert, the proposition that the activities of managers cannot be adequately understood without setting them, empirically and theoretically, in a wider context.

The impact of COVID-19 has caused a recession in economies all over the world. In this context, the current study aims to analyze the prevailing economic scenario using a machine learning approach and suggest sustainable measures to recover the global economy taking the case of Make in India (MII) initiative of developing the economy as a base for the study.

A well-known topic modeling technique – Latent Dirichlet allocation (LDA) algorithm has been employed to extract useful information characterizing the existing state of selected sectors under the MII initiative alongside catalytic policies that have been implemented for the same. The textual data acts as the base of the study upon which suggestions are provided.

The findings obtained suggest that digital transformation will play a key role in concerned sectors to optimize the performance of manufacturing organizations. Additionally, inter-relationship between Key Performance Indicators for the economy's revival is crucial for effective utilization of foreign direct investment resources.

The novel efforts to utilize MII initiative as a case present crucial information which can be used by policy makers and various other stakeholders across the globe to enhance decision-making and draft legislation across different sectors to empower the economy.

The study presents a novel approach to utilize the MII initiative by identifying important measures for crucial sectors and associated policies that have been presented by employing a text mining approach which in itself makes it unique in its contribution to research literature.

Models the trade-offs between education in secular subjects, formal and informal, and the formation of religion-specific human capital. Explores some implications of negative externalities between religious and secular education. Develops hypotheses about religious tensions in the American public school system and means of coping with them. Discusses some implications for social cohesion in a religiously pluralistic school system.

In the current drive to improve product quality through its reliability, maintainability and supportability characteristics, supportability has emerged as the key area in which customers can have an impact, the other two aspects being increasingly integrated into the product design phase. Previous work on supportability has indicated that product or system owners can be most influential in the areas of spares estimation and shared capital investment equipment provision. The effect of spares provisioning has previously been considered at some length. Presents the development of a mathematical model for estimating the impact of the level of shared capital investment equipment provided on the supportability. Such a model would then allow engineering practitioners to assess the implications of their decisions regarding resource allocation, in terms of the overall system availability.

The case introduces student to basic understanding of banking sector in Tanzania as well as the strategies and struggle to raise capital through shareholders’ funds. Application of Banking theory and Pecking order theory is evidenced from the case. The case outlines why the bank struggled to raise capital and what triggers the capital raising strategies. It also give students an opportunity to think about applicable theories of capital structure and bank capital, and strategies the bank could use to rescue its capital crunch in the future.

The case provides details of how the Capital Community Bank (CCB) raised its capital through strategic financial engineering which enabled it to raise the minimum regulatory capital required to be licensed as a financial institution unit, to a regional financial institution, to a fully fledged commercial bank. The bank started with a paid up capital of TZS 472.3m in 2002, involving four Local Government Authorities and individual investors. Capital raised to TZS 31.3bn in 2014 and down to TZS 20.6bn at the end of 2016. The minimum regulatory capital required is TZS 15bn, while paid up capital was 16.9bn. With the change of the management team in 2017, the bank is looking for avenues to raise further capital to meet the regulatory limits and continue to survive as a commercial bank, given dramatic changes in the banking sector in Tanzania.

The case is suitable for third year students in Bachelor of Commerce/Economics specializing in banking/financial services. It also suits postgraduate/master's students seeking a Postgraduate Diploma or Master of Business Administration in financial institutions/banking course.

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CSS 1: Accounting and Finance.

Examines Gorbachev′s (1985‐1991) period of Soviet development as an exemplar of a self‐declared movement towards a more democratic and humane socialism. Gorbachev′s perestroika envisaged a fundamental structural and technological renovation of Soviet economy, reactivation of Soviet persons and attitudes, and overall redirection of the nation′s economic, political and social priorities. Analyses Gorbachev′s model of democratizing socialism with respect to underlying causes or origins, and institutions and policies initiated in the Gorbachev years.

This study aims to examine the relationship between blockchain technology (BCT) adoption and firm performance (FIP) mediated by cyber-security risk management (CSRM) in the context of Vietnam, a developing country. Besides, the mediating effect of risk-taking tendency (RTT) has been considered in the BCT–CSRM nexus.

Data is collected using a survey questionnaire of Vietnamese financial firms through strict screening steps to ensure the representativeness of the population. The ending pattern of 449 responses has been used for analysis.

The findings of partial least squares structural equation modeling demonstrated that CSRM has a positive effect on FIP and acts as a mediator in the BCT–FIP nexus. Furthermore, RTT moderates the relationship between BCT and CSRM significantly.

This study introduces the attractive attributes of applying BCT to CSRM. Accordingly, managers should rely on BCT and take advantage of it to improve investment resources, business activities and functional areas to enhance their firm's CSRM. Especially, managers should pay attention to enhancing their RTT, which improves FIP.

This study supplements the previous literature in the context of CSRM by indicating favorable effects of BCT and RTT. Additionally, this study identifies the effectiveness of RTT as well as its moderating role. Ultimately, this paper has been managed as a pioneering empirical study that integrates BCT, RTT and CSRM in the same model in a developing country, specifically Vietnam.