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Adam Smith sees religion both as having a useful and a dangerous role. People create gods to explain what they do not understand and appease their desire of justice when human justice is perceived to fail. These are socially useful functions of religion. But when religion is used as a political tool and is used for state capture purposes, then it becomes a dangerous and destructive force in society.

The main purpose of this paper is to establish whether trust plays a significant mediating role in the relationship between access to microcredit and survival of young women microenterprises in under-developed financial markets in sub-Saharan Africa. The main focus of this paper is to specifically test whether relational social capital built by young women from homogeneous and heterogeneous groups can be more effective in promoting economic exchange in under-developed financial markets since interpersonal trust has recently been found to harbor group collusion, especially among kins. Overall, the paper distinguishes trust among individuals based on their age, gender and ethnic diversity.

This study used structural equation model to test whether trust significantly mediates the relationship between access to microcredit and survival of young women microenterprises using Analysis of Moments Structures (AMOS) based on recommendations by Hair et al. (2022) and Baron and Kenny (1986).

The findings from this study revealed that trust significantly and positively mediate the relationship between access to microcredit and survival of young women microenterprises in under-developed financial markets in sub-Saharan Africa. Trust developed from relational social capital among young women from homogeneous and heterogeneous groups create a stronger basis for economic exchange in under-developed financial markets.

While this study generates a positive evidence on the impact of access to microcredit on survival of young women microenterprises, the results cannot be over emphasized and generalized because the data were collected from only a single developing country. Future research may extend the current study to include other developing countries to make a more justified comprehensive analysis.

The findings from this study highlights the importance of using a blend of social policy guided by norms combined with formal regulations as an informal contract enforcement mechanism to achieve efficient economic exchange in under-developed financial markets. Relational social capital formed on the basis of informal norms among groups from diverse population can supplement formal laws to enforce contractual obligations in microcredit access, especially among youthful microentrepreneurs, who seems to have stronger relational behaviors than adults. Financial institutions such as banks should use informal contract enforcement system to increase the scope of financial inclusion of young microentrepreneurs, especially in unbanked rural communities in sub-Saharan Africa, Uganda inclusive where formal laws are weak and sometimes not functional. The findings also show that younger people have a stronger relationship behavior than adults. Therefore, policy should create structures that can promote social activities among youth. Governments in sub-Saharan Africa, Uganda inclusive through their respective Ministry of Gender, Labour and Youth Affairs should create youth clubs that can increase interaction and relational social capital among the younger population to derive economic empowerment. sub-Saharan African governments, Uganda inclusive should rely more on social policy based on relational social capital as a missing link to promote and achieve economic development.

This paper provides an evidence on the unique role of age, gender and ethnicity in information sharing and exchange based on social policy in the financial market to limit group collusion. The authors indicate that diversity in relational social capital among young women microentrepreneurs prohibit strategic defaults, which promotes access to microcredit for survival of women micro small and medium enterprises (MSMEs) through socialization. High level of interaction among younger women microentrepreneurs from homogeneous and heterogeneous groups allow them to close the information gap to timely meet borrowing contractual obligations to derive economic benefits. The paper shows that younger women have more trust than older women while searching for economic value through socialization. In fact, social policy can wholly supplement formal policy to promote growth and survival of young women microenterprises, especially in sub-Saharan Africa, Uganda inclusive.

The conflict between institutionalism and neoclassicism in the 20th century has been investigated by scholars over the years. Many of them believe that in the postwar period, neoclassicism triumphed while institutionalism largely disappeared. The present chapter takes a very different view. The late 20th century represents a broad synthesis of neoclassical and institutional themes in a methodology we call pragmatic empiricism. That approach combines the mathematical model building and theoretical formalism of neoclassical economics with the institutional economist’s data-driven statistical analysis and concern for developing institutional forms. We use as a case study the history of American locational economics from the 1930s to the present. The mixing of institutional and neoclassical themes is quite evident in the work of three young scholars at Harvard who effectively initiated American locational economics. In the postwar period, we find a series of outstanding, well-published papers that capture the spirit of the “founders.” These papers do use more modeling, but they also focus on major institutional developments. A broader review of locational works is consistent with the pragmatic empiricism label. The history of locational economics supports the claim that institutionalism, far from disappearing, continues to provide fundamental questions and techniques for modern pragmatic empiricism.

This research aims to empirically investigate the impacts of product and international diversification strategies on firm-level inventory performance.

This study empirically examines the associations between product and international diversification strategies and inventory performance based on a sample of 64,124 observations across 7,367 US publicly traded firms between 1989 and 2019 from the COMPUSTAT Segment, Fundamental Annual and Fundamental Quarterly data files. We employ both linear and nonlinear regression models to perform our empirical analysis.

This research provides strong evidence that there exists a U-shaped relationship between unrelated product diversification and inventory level and a partially inverted U-shaped relationship between international diversification and inventory level. We also find a positive impact of related product diversification on inventory level, but there is no significant curvilinear relationship between related product diversification and inventory level.

Our research findings offer important insights into top management’s strategic planning for diversification strategies and operations manager’s inventory control policies to achieve the strategic fit between corporate diversification and inventory management.

Product and international diversification strategies not only play an essential role in the firm’s competitive advantage, but also have a significant influence on operations manager’s inventory decision. This research is among the first to systematically investigate how top management’s related product, unrelated product and international diversification strategies may have complex nonlinear impacts on inventory performance.

The paper provides a detailed historical account of Douglass C. North's early intellectual contributions and analytical developments in pursuing a Grand Theory for why some countries are rich and others poor.

The author approaches the discussion using a theoretical and historical reconstruction based on published and unpublished materials.

The systematic, continuous and profound attempt to answer the Smithian social coordination problem shaped North's journey from being a young serious Marxist to becoming one of the founders of New Institutional Economics. In the process, he was converted in the early 1950s into a rigid neoclassical economist, being one of the leaders in promoting New Economic History. The success of the cliometric revolution exposed the frailties of the movement itself, namely, the limitations of neoclassical economic theory to explain economic growth and social change. Incorporating transaction costs, the institutional framework in which property rights and contracts are measured, defined and enforced assumes a prominent role in explaining economic performance.

In the early 1970s, North adopted a naive theory of institutions and property rights still grounded in neoclassical assumptions. Institutional and organizational analysis is modeled as a social maximizing efficient equilibrium outcome. However, the increasing tension between the neoclassical theoretical apparatus and its failure to account for contrasting political and institutional structures, diverging economic paths and social change propelled the modification of its assumptions and progressive conceptual innovation. In the later 1970s and early 1980s, North abandoned the efficiency view and gradually became more critical of the objective rationality postulate. In this intellectual movement, North's avant-garde research program contributed significantly to the creation of New Institutional Economics.

Environmental degradation in emerging economies has induced stakeholder pressures on diverse firms to ensure sustainable business performance. Consequently, firms are adopting environmentally ethical cultures and reinforcing green creativity to satisfy stakeholders' environmental needs while attaining green competitive advantage, sustainable production and higher financial performance. The purpose of this study is to investigate whether corporate environmental ethics and green creativity serve as antecedents to higher competitiveness, sustainable production and financial performance, and also examine if green competitive advantage and sustainable production mediate the relationships between corporate environmental ethics, green creativity and financial performance in the context of an emerging economy.

This study using a survey approach examined data from 290 manufacturing small and medium-sized enterprises. Data were analyzed and interpreted using SmartPLS 3.0 software, a variance-based structural equation modelling technique. This modelling technique was adopted due to its suitability for predictive research models.

The findings show that corporate environmental ethics and green creativity are critical antecedents to green competitive advantage, sustainable production and financial performance. The results connote that while corporate environmental ethics and green creativity directly and robustly influence green competitive advantage, sustainable production and financial performance, their effect on financial performance is strengthened via the indirect effects of green competitive advantage and sustainable production. Contrasting past findings, corporate environmental ethics negatively related to financial performance in this study context. The findings indicate that the integration of environmental ethics and green creativity can be a unique strategy for mitigating environmental negative risks while improving green competitive advantage, sustainable production and financial performance.

The study is among the few that draws insights from organizational ethics and the natural resource-based view (NRBV) to examine the interactions between corporate environmental ethics, green creativity, green competitive advantage, sustainable production and financial performance. Drawing insights from the findings, the study provides suggestions for managers, academicians, policymakers and governments as well as highlights implications and directions for future research.

The present study provides a comprehensive review of the advancements in five active heating modes for cold-proof clothing as of 2021. It aims to evaluate the current state of research for each heating mode and identify their limitations. Further, the study provides insights into the optimization of intelligent temperature control algorithms and design considerations for intelligent cold-proof clothing.

This article presents a classification of active heating systems based on five different heating principles: electric heating system, solar heating system, phase-change material (PCM) heating system, chemical heating system and fluid/air heating system. The systems are analyzed and evaluated in terms of heating principle, research advancement, scientific challenges and application potential in the field of cold-proof clothing.

The rational utilization of active heating modes enhances the thermal efficiency of cold-proof clothing, resulting in enhanced cold-resistance and reduced volume and weight. Despite progress in the development of the five prevalent heating modes, particularly with regard to the improvement and advancement of heating materials, the current integration of heating systems with cold-proof clothing is limited to the torso and limbs, lacking consideration of the thermal physiological requirements of the human body. Additionally, the heating modes of each system tend to be uniform and lack differentiation to meet the varying cold protection needs of various body parts.

The effective application of multiple heating modes helps the human body to maintain a constant body temperature and thermal equilibrium in a cold environment. The research of heating mode is the basis for realizing the temperature control of cold-proof clothing and provides an effective guarantee for the future development of the intelligent algorithms for temperature control of non-uniform heating of body segments.

The integration of multiple heating modes ensures the maintenance of a constant body temperature and thermal balance for the wearer in cold environments. The research of heating modes forms the foundation for the temperature regulation of cold-proof clothing and lays the groundwork for the development of intelligent algorithms for non-uniform heating control of different body segments.

The present article systematically reviews five active heating modes suitable for use in cold-proof clothing and offers guidance for the selection of heating systems in future smart cold-proof clothing. Furthermore, the findings of this research provide a basis for future research on non-uniform heating modes that are aligned with the thermal physiological needs of the human body, thus contributing to the development of cold-proof clothing that is better suited to meet the thermal needs of the human body.

Social exclusion is a complicated psychological phenomenon with behavioral ramifications that influences consumers' lifestyles and behaviors. In contrast, anthropomorphism is a phenomenon that marketing strategists employ and that occurs in customers' lives as a result of social isolation. The literature discusses these two complicated structures as ones that require investigation based on consumer judgments. The purpose of the current study is to understand the fundamental motivations that underlie the propensity for anthropomorphizing in people who suffer social isolation through their pets.

To look into the motivations driving these themes, a study technique with three distinct components was created. Cyberball was employed as a technique to manipulate social exclusion in the initial stage of this research methodology. Two scenarios, one of which had an anthropomorphizing tendency and the other of which did not, were presented to participants who had suffered social exclusion and advanced to the second phase in order to determine the anthropomorphizing tendency. The Attachment to Pets Scale (LAPS), which Johnson et al. (1992) created based on the social support provided by pets, was utilized while creating the scenarios. The Zaltman method was applied as an interviewing technique in the third stage of the research design, with the interviewees being guided by visuals that reflected their emotions and thoughts.

The results of the data analysis were evaluated in light of social psychology. A more thorough expression of the complex relationship between anthropomorphism and those who experience social exclusion has been made. The findings showed that when people anthropomorphize their pets in response to feelings of social exclusion, the motivations that emerge include pure love, loyalty, animals' need for a human, living creature and embracing. The study emphasizes that these ideas will be helpful in customers' interactions with anthropomorphic objects.

As a contribution to the literature, the study findings offer the five major motivations underpinning these beliefs. These findings may help marketing scientists comprehend social exclusion and anthropomorphism, thereby benefiting the individual and society.

The majority of research in the literature (Chen et al., 2017; Epley et al., 2008; Eyssel and Reich, 2013; Waytz et al., 2019) verified that people who were socially excluded would use anthropomorphism, but no studies were discovered about the motivations outlined in the current study. The results of this investigation should add to the body of knowledge in this area. The pet was employed as an anthropomorphism tool in the current study because it is the object that a person chooses to anthropomorphize deliberately and independently. It adds to the study's originality by explaining in the individual's own terminology how he will feel as a result of his social isolation, how he will make up for it and potential responses he may have. In addition to all of these contributions, the study's primary goal of analyzing the motivations behind anthropomorphism yields significant findings that are relevant to both industry and academic research.

The authors analyse the interactive influence of energy use, capital investment and finance on pollution in energy-dependent African countries.

The study analyses data from 5 selected energy-dependent African nations (i.e. Algeria, Egypt, Nigeria, Morocco and South Africa) between 1981 and 2020 using the fully modified ordinary least squares (FMOLS) approach.

The panel result reveals that capital investment and energy interaction and financial development and capital investment moderation reduce pollution in all the countries. However, for country-specific results, the interaction of investment and energy lowers emissions in Algeria, South Africa, Nigeria and Morocco but increases pollution in Egypt. Similarly, except for Egypt, financial development and capital investment interaction offset pollution in Algeria, Nigeria, South Africa and Morocco.

The limitation of the study stems from the inability to extend the scope to cover the entire African region. However, the fact that the authors selected the most prominent African nations in the sample to enable us to set the template for other smaller nations to follow makes the study tenable in its present form.

Energy-dependent African countries should invest in eco-friendly machines, technologies and equipment to lower pollution vis-à-vis production expansion.

The present research is more expansive by combining the finance and capital investment channels in the quest for decarbonising emerging African nations. Moreover, this is a comparative study, unlike past studies that mainly deploy a one-size-fits-all approach.