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Article
Publication date: 7 December 2021

Gustav Hägg and Colin Jones

This paper explores the idea of the prudent entrepreneurial self, through re-conceptualizing prudence into the domain of entrepreneurial education, to unite the two…

Abstract

Purpose

This paper explores the idea of the prudent entrepreneurial self, through re-conceptualizing prudence into the domain of entrepreneurial education, to unite the two processes of becoming enterprising and entrepreneurial. It is argued that developing a capacity for prudence among graduates involves past, present and conjecture forms of knowledge that the authors find in the interplay between individuation and social awareness.

Design/methodology/approach

Building on Palmer's idea of wholeness, the authors discuss six poles of paradoxes in entrepreneurial education and in conjunction establish a philosophical argument for the idea of stimulating the development of prudence as fundamentally important to contemporary notions of entrepreneurial education.

Findings

The paper presents a model to develop a schema that moves students towards becoming prudent entrepreneurial selves. The model rests on two interrelated developmental processes – individuation and social awareness – conditional for developing the three forms of knowledge (past, present and conjecture) that makes up prudence where developing prudence is a means to handle or cope with the unknown.

Research limitations/implications

This paper argues that for enterprise and entrepreneurship education to realize their potential contributions, both the relationships between each field and the overarching purpose that ties the fields together need to be rethought, and the poles of paradoxes need to be connected to further develop both fields and creating wholeness for the emerging scholarly discipline.

Practical implications

To educate towards the prudent entrepreneurial self means educating towards an unknown end where student development aims to meet both the objectives of individual development and the growth in social awareness required to handle the changing nature of contemporary society.

Originality/value

This study philosophically conceives a united enterprise and entrepreneurship education landscape in which deeper student learning makes possible the notion of the prudent entrepreneurial self.

Details

International Journal of Entrepreneurial Behavior & Research, vol. 27 no. 9
Type: Research Article
ISSN: 1355-2554

Keywords

Article
Publication date: 27 October 2020

Colin Jones, Kathryn Penaluna and Andy Penaluna

This paper aims to propose a unified framework for understanding the development and distribution of value within and from enterprise and entrepreneurship education. In…

Abstract

Purpose

This paper aims to propose a unified framework for understanding the development and distribution of value within and from enterprise and entrepreneurship education. In doing so, the authors trace the origins of value creation pedagogy back 100 years and reconnect this lost literature to contemporary thinking as to what constitutes value creation pedagogy.

Design/methodology/approach

This conceptual paper identifies specific temporal-specific problems with current thinking in enterprise and entrepreneurship education vis-à-vis who gains the value from value creation pedagogies. To address this identified anomaly, the authors seek to develop a spectrum of value-creating activities/processes applicable to enterprise and entrepreneurship education. The underlying aim of this approach is to provide clarity around who specifically benefits from value creation pedagogies, how and when.

Findings

In developing a spectrum of value-creating activities/processes applicable to enterprise and entrepreneurship education, the authors have successfully located all major forms of value creation pedagogies in an iterative manner that caters to the authentic development of value for oneself and others. The proposed model assumes that the creation of authentic value for others should be preceded by the development of specific capabilities in the value creators.

Practical implications

There are important implications that arise for all enterprise and entrepreneurship educators in the discussions presented here. Most importantly, value creation pedagogies should be fueled by the ongoing development of purpose, agency and capability via cultivated reflection.

Originality/value

This paper broadens the notion of what constitutes value creation pedagogy in enterprise and entrepreneurship education. In doing so, the authors elevate the importance of student creative competency development over value creation.

Details

Education + Training, vol. 63 no. 1
Type: Research Article
ISSN: 0040-0912

Keywords

Article
Publication date: 27 March 2018

Solomon Akinbogun and Colin Jones

Planning is logically applied to address negative externalities, but an alternative is financial compensation to the victim of negative spillover effects. This paper aims…

Abstract

Purpose

Planning is logically applied to address negative externalities, but an alternative is financial compensation to the victim of negative spillover effects. This paper aims to examine the rent discount required to compensate tenants in an African city for a negative externality of the location of a grave within the bounds of their home. It also assesses the suitability of this as a remedy.

Design/methodology/approach

This study adopts a discrete choice experiment to analyse tenants’ acceptability of the level of rent discounts when a grave is imposed on their home.

Findings

The study estimates that tenants in the Nigerian city of Akure require between 15 per cent and 20 per cent reduction in the rental value of a residential property to compensate for the imposition of a grave. However, many households would prefer to move elsewhere rather than negotiate a discount. Others, especially those on low incomes, were likely to suffer the loss of welfare without a rent discount. The study concludes that a compensatory approach is not an acceptable solution for welfare issues caused by the planning failure.

Research limitations/implications

The investigation is based on a hypothetical choice experiment. However, the results obtained are subject to a series of validation processes.

Practical implications

As reductions in the rent to compensate for the effect of a grave in a private home are unlikely in a market with excess demand, it is a clear argument for effective planning and environmental law.

Originality/value

This study is the first to assess the impact of negative externalities on the housing market of an African city.

Details

International Journal of Housing Markets and Analysis, vol. 11 no. 2
Type: Research Article
ISSN: 1753-8270

Keywords

Article
Publication date: 17 July 2019

Colin Jones

The purpose of this paper is to consider the role of political risk in real estate and to specifically examine the implications in Scotland of continuing uncertainty…

Abstract

Purpose

The purpose of this paper is to consider the role of political risk in real estate and to specifically examine the implications in Scotland of continuing uncertainty caused by political events.

Design/methodology/approach

The primary research links the political timeline around the Scottish independence referendum in 2014 to time series of a combination of individual investment transactions, measures of sentiment from investment agents and yields. The analysis distinguishes between UK and overseas investors.

Findings

The political risk over six years ebbed and flowed with the changing probability of constitutional change but ultimately it has been a cumulative dampener on investment in Scotland. An element of the political risk can be deemed to be specific risk linked to UK institutional fund mandates that stems from concerns about possible forced sales with independence. In addition political risk is in the eye of the beholder with overseas investors in Scotland unfazed by the prospects of independence.

Practical implications

The short-term impact on investment of the Scottish “neverendum” is very similar to that for independence. The consequences are depressed investment and development that seem set to continue at least until the constitutional hiatus begins to be resolved.

Originality/value

This is the first study to explicitly examine the impact of political uncertainty on the real estate sector.

Details

Property Management, vol. 37 no. 5
Type: Research Article
ISSN: 0263-7472

Keywords

Article
Publication date: 4 April 2019

Benedikt Blaseio and Colin Jones

Increasing regional wealth disparities have been explained by the role of agglomeration economies and the concentration of skilled mobile human capital. This paper aims to…

Abstract

Purpose

Increasing regional wealth disparities have been explained by the role of agglomeration economies and the concentration of skilled mobile human capital. This paper aims to draw out the role of the housing market by considering the differential experience of Germany and the UK.

Design/methodology/approach

The empirical analysis is based on the comparison of regional house price trends in Germany and UK-based annual data from 1991 to 2015.

Findings

Regional house price inequality is found to have increased in both countries with the spatial concentration of skilled human capital. However, the main conclusion is that there are differential paths to regional house price inequality explained by the parameters of each country’s housing market.

Originality/value

The research is the first to compare and explain differential regional house price trends across countries.

Details

International Journal of Housing Markets and Analysis, vol. 12 no. 4
Type: Research Article
ISSN: 1753-8270

Keywords

Article
Publication date: 25 October 2019

Colin Jones, Kathryn Penaluna and Andy Penaluna

The purpose of this paper is to address the recent development of heutagogy in the domain of enterprise and entrepreneurship education (EE). Responding to recent thinking…

Abstract

Purpose

The purpose of this paper is to address the recent development of heutagogy in the domain of enterprise and entrepreneurship education (EE). Responding to recent thinking within our domain of education, this paper discusses the origins of heutagogy, its adoption within enterprise and EE and offers suggestions as to the further development of such thinking in this domain.

Design/methodology/approach

This conceptual paper revisits the original thinking that developed the process of heutagogy, or self-determined learning. Revisiting the conceptual foundations of heutagogy, comparing it to andragogy and to the idea of academagogy enables the process of academagogical process knowledge (APK) to be outlined. Through this process, the authors argue it is possible to envisage the real potential value of heutagogy to enterprise and EE.

Findings

In advocating for the development of APK, the authors highlight the importance of six specific knowledge bases; knowledge of self, knowledge of entrepreneurship theories, knowledge of transformational learning approaches, knowledge of authentic assessment processes, knowledge of student engagement and knowledge of how to scholarly lead. The authors argue that the development of scholarship of teaching and learning for enterprise and EE can be advanced through these six knowledge bases.

Practical implications

There are important implications that arise for all enterprise and entrepreneurship educators in the discussions presented here, especially if we consider entrepreneurial approaches within disciplines and interests that anchor the studies, as opposed to more generic approaches found in entrepreneurship courses. Most importantly, that heutagogy must be evaluated alongside the blended contributions of pedagogy, andragogy and academagogy.

Originality/value

This paper advances the readers’ understanding of the potential role of heutagogy in enterprise and EE. In doing so, differing opinions related to the use of heutagogy in the domain have been addressed, and a developmental pathway outlined.

Details

Education + Training, vol. 61 no. 9
Type: Research Article
ISSN: 0040-0912

Keywords

Article
Publication date: 31 October 2018

Colin Jones

The purpose of this paper is to address the increasing demand for entrepreneurship education (EE) across all levels of education globally. Specifically, the need to…

1165

Abstract

Purpose

The purpose of this paper is to address the increasing demand for entrepreneurship education (EE) across all levels of education globally. Specifically, the need to identify a signature pedagogy for entrepreneurship that can be used in all teaching and learning contexts associated with all forms of EE.

Design/methodology/approach

This conceptual paper draws upon the seminal work of Lee Shulman to contemplate and propose a signature pedagogy for EE. Contemporary ideas from the scholarship of teaching and learning (SoTL) literature are also used to develop a sound pedagogical foundation for the approach advocated.

Findings

This paper proposes an innovative solution that addresses the challenge of defining what minimally speaking, is EE? The development of a signature pedagogy for EE provides clarity around the challenge of developing a standard minimalist approach to teaching entrepreneurship.

Practical implications

There are important implications that arise from this paper for all educators of entrepreneurship. Most importantly being that we can all share a SoTL regardless of the context of the author’s teaching.

Originality/value

This paper presents new thinking that has the potential to fundamentally reshape how we conceive the process of designing and delivering EE. Importantly, this paper contributes to the future development of SoTL in EE.

Details

Journal of Small Business and Enterprise Development, vol. 26 no. 2
Type: Research Article
ISSN: 1462-6004

Keywords

Article
Publication date: 15 March 2019

Abdulkader Mostafa and Colin Anthony Jones

The UK experienced a substantial rise in owner occupation over the twentieth century, and many tenants still aspire to homeownership. These strong aspirations to own are…

Abstract

Purpose

The UK experienced a substantial rise in owner occupation over the twentieth century, and many tenants still aspire to homeownership. These strong aspirations to own are attributed to a set of financial and non-financial benefits. This paper aims to calculate, for the first time, the financial returns from buying versus renting in Britain for first-time buyers in 11 regions.

Design/methodology/approach

It applies a DCF approach based on historical housing and mortgage market data from 1975 to 2012.

Findings

The paper finds strong evidence that, in purely financial terms, buying has been always superior to renting in all regions of the UK over the period.

Practical implications

It gives a clear message of the financial benefits of homeownership over renting in Britain, even over very short time periods.

Originality/value

The paper is the first to apply a comprehensive DCF model to the choice between renting and owning.

Details

Journal of European Real Estate Research, vol. 12 no. 1
Type: Research Article
ISSN: 1753-9269

Keywords

Article
Publication date: 27 August 2021

Rui Xiang, Colin Jones, Rogemar Mamon and Marierose Chavez

This paper aims to put forward and compare two accessible approaches to model and forecast spot prices in the fishing industry. The first modelling approach is a…

Abstract

Purpose

This paper aims to put forward and compare two accessible approaches to model and forecast spot prices in the fishing industry. The first modelling approach is a Markov-switching model (MSM) in which a Markov chain captures different economic regimes and a stochastic convenience yield is embedded in the spot price. The second approach is based on a multi-factor model (MFM) featuring three correlated stochastic factors.

Design/methodology/approach

The two proposed approaches are analysed in terms of parameter-estimation accuracy, information criteria and prediction performance. For MSM’s calibration, the quasi-log-likelihood method was applied directly while for the MFM’s parameter estimation, this paper designs an enhanced multi-variate maximum likelihood method with the aid of moments matching. The numerical experiments make use of both simulated and actual data compiled by the Fish Pool ASA. Data on both the Fish Pool’s forwards and Norwegian T-bill yields were additionally used in the MFM’s implementation.

Findings

Using simulated data sets, the MSM estimation gives more accurate results than the MFM estimation in terms of the norm in ℓ2 between the “true” and “computed” parameter estimates and significantly lower standard errors. With actual data sets used to evaluate the forecast values, both approaches have similar performances based on the error analysis. Under some metrics balancing goodness of fit and model complexity, the MFM outperforms the MSM.

Originality/value

With the aid of simulated and observed data sets examined in this paper, insights are gained concerning the appropriateness, as well as the benefits and weaknesses of the two proposed approaches. The modelling and estimation methodologies serve as prelude to reliable frameworks that will support the pricing and risk management of derivative contracts on fish price evolution, which creates price risk transfer mechanisms from the fisheries/aquaculture sector to the financial industry.

Article
Publication date: 18 November 2013

Colin Jones and Andy Penaluna

The purpose of this paper is to approach the debate surrounding the role of business plans in enterprise/entrepreneurship education from a different perspective; that of…

2245

Abstract

Purpose

The purpose of this paper is to approach the debate surrounding the role of business plans in enterprise/entrepreneurship education from a different perspective; that of the student. The paper argues that much of the consternation within this stubborn debate derives from a lack of appreciation of the context actually occurring in the lives of our students. The paper aims to explore several arguments directly related to these contexts.

Design/methodology/approach

The approach is to build around a combining of cycles of reflective practice via the authors’ iterative consultation with each other. The paper seeks to explore the world of the student via an enfolding of the literature, but ultimately we do not claim to have hidden our personal biases.

Findings

It is important to separate enterprise education (EE) from entrepreneurship education when discussing the role of the business plan. While the business plan has a place in the latter, it makes little sense for it to be a focal learning activity in the former. In addition, we see this outcome as a positive outcome for our field with little point in continuing on with what has become a fairly pointless debate.

Practical implications

The paper concludes that once EE is viewed as being distinctly different from entrepreneurship education it is free to be considered with more precision what learning needs exist. Focusing on learning needs changes the direction of the discussion, with the business plan only up for discussion if it contributes a learning activity related to pre-determined learning outcomes.

Originality/value

The paper offers a constructive way forward from a debate that has been beset with extreme vested interests for too long.

Details

Education + Training, vol. 55 no. 8/9
Type: Research Article
ISSN: 0040-0912

Keywords

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