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The study aims to examine whether corporate social responsibility (CSR) disclosure does improve debt financing of listed firms with sustainable development agendas coupled with high chief executive officer (CEO) tenure in India.

Employing panel regression based on fixed effect and instrumental variable regression with fixed effect assumptions, the study examined data from the Bombay stock exchange from the period 2010 to 2019.

The study demonstrates that the disclosure of current exchange capital and moral capital cannot cause a firm to access short-term and long-term debt financing. However, lag investment in moral capital causes a positive effect on short-term debt financing. The second findings show that CEO tenure has a positive and statistically significant association with short-term debt financing and an insignificant association with long-term debt financing. The third findings show that the interaction of current CSR disclosure (moral and exchange capital) and CEO tenure is insignificant in affecting short-term and long-term debt finance. However, the interaction of lag CSR disclosure (moral and exchange capital) and CEO tenure positively affect short-term debt financing. The study addresses any endogeneity concerns arising from the CSR disclosure-debt financing association.

This study uses a single country to examine the inter-relationship between CEO tenure and debt financing and CSR measured by moral capital and exchange capital, thereby limiting the study's results for generalisation.

The observation is that moral capital investment and disclosure do not guarantee new entrants the chance to access debt financing, but subsequent and lag CSR disclosure ensures access.

No studies examine morality from CSR disclosure on debt financing. This study shows that decoupling CSR into exchange capital and moral capital in accessing debt financing presents new inputs for scholarly debate on CSR.

This study aims to validate an integrative model that investigates the structural relationships among consumer social resources (including social capital and social exchange), co-creation behaviors (as outcome of social resources) and satisfaction and positive word-of-mouth (as joint outcomes of social resources and co-creation practice).

A cross-sectional design was used to gather data from education services in HCM City, Vietnam. The whole of 334 consumer surveys were used to validate a research model using SEM/AMOS.

The paper, on the basis of service-dominant logic and from customer perspective, asserts the importance of consumer co-creation in service logic. The finding reinforces that social capital and social exchange, as interconnected operant resources, influence consumer co-creation that further affects consumer satisfaction and positive word-of-mouth. In addition, no gender gap of co-creation practice is found in education services of the study. Moreover, this study, with the support of structuration theory, posits that value is co-created and socially contextual through resource integration and service exchange.

This paper is among the first, with empirically validating the social capital-co-creation link, to reveal that social capital, as a second-order construct, is an important determinant of co-creation practice. Next, this is also one of the first studies from a consumer view, with social exchange leading social capital as empirically demonstrated, that evidently investigates both the mechanism of value co-creation and the interconnection of social resources in service systems. Last but not least, this study may be also one of the first steps toward investigating the socially contextual nature of co-creation which may assert the last updated axiom of service-dominant logic.

The purpose of this paper is to contribute toward a better understanding of the impact of social capital on knowledge exchange within supply chains. An exploratory case study approach is used to identify the effects of social capital across multiple organizational levels and to consider how these effects relate to the mode of supply chain governance.

A comparative case study investigation was undertaken of two Indonesian automotive component suppliers. Qualitative research methods were used with data collection involving semi-structured interviews with 64 participants at three different levels within each company (senior managers, middle managers and shop floor staff).

Comparisons between the cases highlight the major consequences that internal differentiation within organizations had in moderating the effect of social capital upon knowledge exchange in supply chains. Social capital had both enabling and inhibiting effects and these were dependent upon how social capital was constituted within and between organizations. Interaction effects between levels and with the mode of governance adopted were also important.

Future research would benefit from a multidimensional analysis of social capital in supply chains which considers potentially disparate and contradictory effects which may be apparent when social capital is examined at different levels of analysis and in relation to different modes of governance.

The paper uses in-depth exploratory case research to complement existing survey-based work and contributes to the further conceptualization of relationships between social capital, knowledge exchange and modes of governance in supply chains.

The base of the pyramid (BOP) is characterized by deep and wide poverty, which dampens market exchanges, or making/selling and buying/consuming activities. The purpose of this paper is to address the specific issue of how national culture distinguishes BOP markets in terms of exchange activities, and the broad issue of how market exchanges can grow and flourish by accounting for comparative differences across BOP markets.

The study design is a conceptual framework drawn from the extant BOP literature and several theories such as Amartya Sen’s theory on poverty, and Anthony Bebbington’s concepts of human capital. The framework specifies research propositions for future empirical examination.

The conceptual framework proposes that BOP poverty lowers or inhibits market exchanges but is countered by several factors: national culture (performance orientation), non-traditional assets (creative and social capitals), and transformative technologies (mobile telephony). Assuming these factors vary by BOP setting, greater performance orientation alongside higher social capital, creative capital, and mobile telephony directly and/or interactively increase market exchange activities.

Among research implications are the application of other culture theories to the BOP market exchange issue, and the need to examine the role of government and other non-traditional capitals in exchanges.

Managerial implications include the targeting and selection of BOP markets and development of marketing tactics that leverage cultural, nontraditional, and technological assets.

This paper explores how to counter the negative effects of BOP poverty on market exchanges by leveraging the distinctives and variations among BOP markets.

The authors evaluate financial stability and capital flows management objectives of capital controls in the context of four capital control events: removing or imposing controls on capital inflows and removing or imposing controls on capital outflows. The authors use synthetic control method to solve the endogeneity problem stemmed from the timing of capital control implementation. The authors find new evidence that capital controls are not consistently effective in reaching financial stability outcomes but are consistent in reaching capital flows management outcomes. The authors compare our results to estimates using difference-in-difference (DID) and carry out placebo analysis. Finally, we use synthetic DID to correct for the parallel trend bias and show that the results still hold.

By reinforcing monetary policy independence, reducing international financing pressures and avoiding high-risk takings, capital controls strengthen the stability of the financial system and then reduce the volatility of capital inflows. The objective of this study was to conduct an empirical examination of this hypothesis. This topic has received strong support in the theoretical literature; however, empirical work has been quite limited, with few empirical studies that provide direct empirical support to this hypothesis.

This study analyzed quarterly data of 32 emerging economies over the period between 2000 and 2015 and proposes two methods to identify capital control actions. Using panel analysis, Autoregressive Distributed Lag and local projections approaches.

This study found that tighter capital controls may diminish monetary and exchange rate shocks and reduce capital inflows volatility. Furthermore, capital controls respond counter-cyclically to monetary shocks. Under capital controls, countries with floating exchange rate regimes have more potential to buffer monetary shocks. We also found that capital controls on inflows are more effective for reducing the volatility of capital inflows compared to capital controls on outflows.

This study contributes to the question of the effectiveness of capital controls in attenuating the effects of international shocks and reducing the volatility of capital flows. Previous studies have mostly focused on the role of macroprudential regulation; however, there is a lack of systematic effects of capital controls on monetary and exchange rate policies. To our knowledge, this is the first preliminary study to suggest that capital controls may buffer monetary and exchange rate shocks and reduce the volatility of capital inflows. This study investigates the novel notion that capital controls allow for a notable counter-cyclical response of monetary and exchange rate policies to international financial shocks.

The purpose of this study is to examine the effect of moral and exchange capital of corporate social responsibility (CSR) disclosure on the financial distress likelihood of family management firms in India.

The constructed data set (i.e. Morgan Stanley Capital International) and Kinder, Lydenberg and Domini social performance rating data format) consists of 66 firms with 655 firm-year observations for family-managed firms that practise sustainability reporting on the Indian stock market from 2010 to 2019.

The first findings show that current and previous year-two CSR disclosure reduces family management firms’ financial distress. The second findings show that the exchange capital of CSR disclosure does not influence the financial distress likelihood of family management firms in India. The third findings show that moral capital of CSR disclosure of the current year, previous year-one and previous year-two more than likely reduce financial distress likelihood of family management firms in India. This study is robust due to the lagged variables of the dependent variables.

Management investment must be high in moral capital to accrue social capital, but the success is dependent on a policy of continuous support for establishing family-related businesses. Similarly, society can benefit as the firm becomes attractive to green consumers as additions to the consumers of a CSR-driven firm. The consequences can cause firms to be more philanthropic to the community.

The novelty shows that to the best of the authors’ knowledge, no studies examine CSR disclosure’s moral and exchange capital on financial distress likelihood in India. Also, there is no evidence from the perspective of family management studies in CSR-financial distress likelihood nexus.

The purpose of this chapter is to explore the possible relation between public policy measures, particularly relating to currency exchange rates, capital flow mechanisms and cross-border insolvency by describing the current state of insolvency regulation in Latin America and some cases that exemplify this public-private dynamic.

The first part of the chapter is based on literature review and content analysis to show the current situation of the regulation of insolvency in Latin America and the evolution of policies shaping the flow of capital and the exchange rates. The second part illustrates the proceedings in selected countries, particularly for Colombia and Venezuela.

The analysis led to the finding that some countries’ policy mechanisms such as in the case of Venezuela might lead to a problem regarding national companies involved in an insolvency proceeding, particularly when the company alleges that public policy in force have changed circumstances leading to the impossibility of paying foreign-located liabilities.

The chapter is based largely on literature review and available data, public legal documents and cases relating public policy and cross-border insolvency; however, insolvency proceedings are not of public domain; thus, there is a large amount of information related with the mentioned cases that remain undisclosed.

This chapter provides a theoretical and practical perspective to analyze cross-border insolvency from a local regulatory framework. It also demonstrates the possible link between public policy and cross-border insolvency.