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Public sector institutional entrepreneurship efforts may contribute to addressing social challenges by creating an enabling regulatory environment that promotes social enterprise formation and fosters complementarity between the public sector and social enterprises. The outcomes of such public sector institutional entrepreneurship are explored in this study. To assess the outcomes of such public sector initiatives in South Korea, the perspectives of executives (n = 40) of government-certified social enterprises are assessed.

Several research methodologies were combined, including purposive sampling with an 11-point Likert scale, hierarchical clustering and principal component analysis. The literature on government–nonprofit relations as well as public sector institutional entrepreneurship was leveraged.

This research results indicate that the enabling regulatory environment with entrenched funding and incubation mechanisms produces mixed-to-positive outcomes if framed with reference to public sector–social enterprise complementarity. The authors identified three perspective-based ideal types that have differential views of isomorphic regulatory pressures, the efficacy of incubation and scaling programs, participation in policymaking and other aspects of public sector patronage.

This study contributes to relating the literature on public sector institutional entrepreneurship and government–third sector relations by empirically assessing how social enterprises attracted by government demand-side signaling to become certified as social enterprises encounter and perceive an ostensibly enabling regulatory ecosystem, with its derivative policies and mechanisms, crafted by the public sector.

Using the upper echelons theory, this study aims to investigate the moderating effect of managerial discretion (MD) on the impact of dynamic managerial capabilities (DMCs) on established firms’ (EFs) response strategies to disruptive innovation (RStDI).

A cross-sectional study was conducted using an online questionnaire to collect data from senior management of sample firms, targeting the population of professional service firms (PSFs) operating in the Emirate of Dubai. After receiving 491 responses, data was analyzed using IBM packages (SPSS and Amos) through a covariance-based structural equation modeling technique.

As proposed, the underpinnings of DMCs (managerial human capital, managerial social capital and managerial cognitive perceptions) were associated with EFs’ strategies for responding to DIs. Surprisingly, despite theoretical predictions, MD did not moderate the relationship. These findings provided support to the main propositions of the upper echelons theory, however, not for its contextual moderator (MD).

The cross-sectional approach to testing the research model limits the identified significant effects that should be further investigated. The research sample was restricted to PSFs operating in Dubai, UAE, thus limiting the generalizability of the findings to the examined context.

The findings of this investigation are valuable to managers and hiring teams. They provide empirically supported insights on the critical role of managerial dynamic capabilities underpinnings (human capital, social capital and cognitive perceptions) in facilitating organizational RStDI. The findings also provide significant insights to policymakers, notably on the importance of innovative and well-crafted policies and regulative frameworks that enhance MD.

This study provides one of the first empirical quantitative analysis to assess MD and test its effects as a moderator, thus contributing significantly to the existing theoretical arguments on MD. To the best of the authors’ knowledge, this study is among the first to quantify the relationship between DMCs and organizational RStDI.

This study aims to assess the alignment of South Korea’s government-certified social enterprises (GCSEs) with prevailing social enterprise (SE) models, notably the entrepreneurial nonprofit, social cooperative and social business models delineated in the “Emergence of Social Enterprises in Europe” (Defourny and Nyssens, 2012, 2017a, 2017b) and the “principle of interest” frameworks (Defourny et al., 2021). Thereby, it seeks to situate these enterprises within recognized frameworks and elucidate their hybrid identities.

Analyzing panel data from 2016 to 2020 for 259 GCSEs, this study uses tslearn for k-means clustering with dynamic time warping to assess their developmental trajectories and alignment with established SE models, which echoes the approach of Defourny et al. (2021). We probe the “fluid” identities of semi-public sector SEs, integrating Gordon’s (2013) notion that they tend to blend various SE traditions as opposed to existing in isolation.

Results indicate that GCSEs do align with prevalent SE frameworks. Furthermore, they represent a spectrum of SE models, suggesting the versatility of the public sector in fostering diverse types of SEs.

The concept of a semi-public sector SE model has been relatively uncharted, even though it holds significance for research on SE typologies and public sector entrepreneurship literature. This study bridges this gap by presenting empirical evidence of semi-public SEs and delineating the potential paths these enterprises might take as they amalgamate various SE traditions.

Reports and experiences suggest that several developing African economies are faced with entrepreneurial-impeding forces such as lengthy bureaucratic processes and poor regulatory space. The study examines a general trend in “doing business performance” among selected African countries and uses the case of Ghana to explore how particular indicators or forces affect the development and deployment of small and medium-sized enterprise (SME) policies.

Comparative analysis of six African economies on their ease of doing business score. This is followed by a critical review of the literature to develop a six-point explanatory framework to explore the relative position of the six countries on the ease of doing business scores. Using Ghana as a critical case study, the authors deploy an in-depth case study analysis via in-depth interviews of relevant stakeholders to validate the information from secondary sources.

The study observes that the nature of leadership, socio-cultural imperatives, economic structure and policy and the role of domestic institutional players and international players have implications for the extent to which the state creates an enabling environment for SMEs and entrepreneurial activities. The role of supportive cultural software that will help drive SME and entrepreneurial growth has been established. The study contends that different aspects of national culture do have implications for the tendency for people to be business-minded or to have the ability to take risks. The demand and supply sides are crucial in promoting SME growth.

The study develops a framework that helps explore elements to help explain ease of doing business scores and the viability of SMEs in Africa. These elements were validated through qualitative interviews as well.

This study aims to explore the reasons why some Chinese private entrepreneurs are reluctant to make charitable donations, with a focus on the perspective of “original sin” suspicion. The objective of this paper is to examine the challenges faced by these entrepreneurs, especially those suspected of “original sin,” when making charitable donations, and to provide recommendations for addressing these challenges.

Using data from the Chinese Private Enterprises Survey Database for the years 2008, 2010, 2012 and 2014, this study used ordinary least squares regression to examine the relationship between “original sin” suspicion and charitable donations from private enterprises.

This study examined the impact of “original sin” suspicion on charitable donations and found that it significantly reduces the donations of privatized enterprises. The negative impact of “original sin” suspicion on charitable donations is especially pronounced in small and medium-sized enterprises (SMEs), as well as those that have experienced changes in local leadership.

While previous research focused on the motivations of private enterprises that donated, they failed to identify which types of enterprises were reluctant to donate and why. By focusing on the “original sin” suspicion surrounding entrepreneurs in privatized enterprises and the political costs they face, this study sheds light on the challenges they encounter in charitable donations and explains why privatized enterprises, especially SMEs, are unwilling to make charitable donations.

The purpose of this study is to provide evidence that government financing behavior has an impact on the outward foreign direct investment (OFDI) of enterprises.

This paper uses debt data from local government financing vehicles to measure the local government debt in China. Based on the data of listed manufacturing firms in China from 2010 to 2018, this paper uses the Tobit model to verify the impact of local government debt and firms' OFDI.

The results indicate that local government debt impedes firms' OFDI, with a more pronounced impact on state-owned enterprises (SOEs) and those with higher political connections. Furthermore, our study suggests that the dampening effect of local governments on firms' OFDI is mitigated in regions following the implementation of the Local Government Debt Management Act.

This study verifies the negative impact of local government debt activity on firms' overseas investments. This is not due to debt crowding out, but rather to the fact that local governments prefer to keep resources locally to stimulate the economy. This paper offers novel insights into the theoretical mechanisms by which local government behavior influences firms' investment activities in emerging markets.

This paper investigates the effect of state-society relations on the industrially-related growth paths of developed countries.

It introduces a novel theoretical framework, the state-business-labor relations (SBLR) framework, where four main actors are identified: the state, big businesspersons or tycoons, owners and managers of small and medium enterprises (SMEs) or Entrepreneurs and labor. Different SBLR categories or modes are introduced depending on levels of coordination and power relations between the studied actors. The paper then investigates how these SBLR modes, through adopting various policies targeting the industrial sector, lead to different growth paths. Rather than focusing only on economic growth, this research regards a growth path as a matrix of the performance in long-run growth and equality of distribution.

Using regression analysis and statistical data, the results suggest that the Co-Balanced mode, having higher levels of coordination and lower favoritism, leads to the best growth path among the four introduced modes, especially with its emphasis on high levels of venture capital availability and easiness of starting business. while the Lib-Capture mode, characterized by lower coordination and higher favoritism, seems to have the worst growth path and the best implemented policy for this mode is suggested to be high profit taxes that seem to counter the negative impact of the existing high levels of favoritism.

Despite the important findings that this research has reached, this paper is mainly meant to open a further investigation into this topic and open this dimension that the research on VoC and political economy have under-researched. A deeper investigation of SBLR typologies that could only be possible by having richer datasets with more data on coordination for the whole world, rather than only the advanced economies, would further our understanding of the dynamics that shape the growth paths of different countries of the world.

To realize the best industrial growth path, fighting favoritism should be an important objective. The negative impact of favoritism on innovation could not be disregarded in the eve of the fourth industrial revolution, where innovation is increasingly pivotal to future industrial development. Actively engaging societal groups in the policymaking process is important in addressing their concerns and balancing them at the same time. This should lead to the double benefit of formulating better policies that should foster growth as well as provide better distribution of this growth. High levels of coordination should help in realizing this objective. Yet, this could only be possible if societal groups are free to associate and aggregate their power and when there are means of preventing one actor from gaining more favorite treatment and exclusive influence over policymakers. The presence of both powerful and broadly represented business associations and labor unions and the existence of a government interested in coordinating their efforts-rather than letting itself be controlled by one group at the expense of the others-should help in the realization of the best growth path. Thus, institutional reform that empowers societal groups and enables them to defend their interests as well as fights all forms of corruption should lead to the realization of a more prosperous and equitable industrial development, with the “re-industrialization” of the developed world being no exception. The technological and social challenges of intensive automation and digitalization accompanying the fourth industrial revolution make the envisaged institutional reform more urgent.

This paper is introducing a novel theoretical framework for studying the effect of state-society relations, particularly SBLR, on the industrial growth paths of developed countries. It integrates three important bodies of literature in order to build a more comprehensive understanding of the dynamics of state-society relations and their economic consequences. These are the Varieties of Capitalism (VoC), State-Business Relations (SBR) and Industrial Relations. The SBLR framework differentiates between tycoons and entrepreneurs, an important distinction that often goes unnoticed. Different SBLR categories or modes are introduced, depending on levels of coordination and power relations between the actors. It is proposed in this research that the effect on growth paths goes beyond the simple dichotomy between CMEs and LMEs usually present in the literature of VoC and that power relations provide an essential complementary dimension in explaining this causality.

The research addresses the issue of elitism in international trade and the barriers in global markets arising from the elitist criteria for transitioning to International Financial Reporting Standards (IFRS). The research aims to identify criteria and pathways for achieving a favorable business climate for the transition to IFRS. Based on international statistics from the World Bank for 2019–2021, the authors identify the determinants of the adoption of IFRS using regression analysis. The authors performed econometric modeling of participation in international trade on global markets based on IFRS factors. As a result, the research selected criteria for a favorable business climate for transitioning to IFRS. The selected criteria are feasible for adherence by all countries and ensure the inclusivity of IFRS. The selected criteria include (in decreasing order of significance): improvement of the investment climate, development of public–private partnerships, overcoming the shadow economy, and strengthening the legal environment. The theoretical significance of the author's conclusions lies in the reevaluation of criteria for a favorable business climate for transitioning to IFRS in the context of new, multipolar globalization. The conclusions formulate a set of inclusive criteria that support free international trade and the openness of global markets. The practical significance of the results obtained in the research is that they outline a path to achieving a favorable business climate in Russia and propose a set of authorial recommendations for transitioning Russian businesses to IFRS.

After decades of hypergrowth, since the 2008 global financial crisis there has been a deceleration of globalization and a partial jamming of its main engines (trade and foreign direct investment [FDI]). This study aims to critically reflect on the current phase, labeling it as “win-lose globalization” characterized by firm-firm competition increasingly intertwined with that between the respective nation-states, which aim to be the relative winners, even at the expense of joint absolute gains. Acting as “strategists,” states implement policies to weaponize economic interdependences, which the paper analyzes.

The approach is “problem setting” rather than “problem solving.” The latter offers well-defined solutions but often assumes unambiguous definitions of problems, which obscure their complexity. This phase is so intricate that the problem itself is problematic. Thus, to advance knowledge, the focus is given on nation-state policies: FDI screening and the politicization of international trade relations; protectionism; misuses of antitrust and regulation.

The intensification of firm-firm/state-state competition, seeking disproportionate gains over rivals, is the ultimate result of the contradictions and dissatisfactions accumulated over decades of globalization, the benefits of which have been far from equally distributed. Conflicts in international economic relations are bound to intensify, and a return to win-win globalization is unlikely. International cooperation to strengthen existing/new supranational governance institutions in the interest of absolute global inclusive benefits is urgently needed.

The paper integrates the international business debate on the fate of globalization with interpretations from industrial policy studies and international relations theory. This allows for suggestions for policymakers, corporate executives and scholars.

The intent of this practice briefing is to provide clarity on the role of market cycles in influencing property valuations at specific points in time. Market cycles are important to the valuation function as real estate cycles have been a critical underlying reason for the financial successes and failures of real estate investments throughout history.

This practice briefing is an overview of the role of the valuer/appraiser in decanting out market information and expectations from market comparables.

This briefing is a review of property valuation and proffers that connecting market cycles to valuation will capture a more expansive and inclusive world view that explicitly incorporates consideration of multiple factors that are reflected in market value.

Important implication of this research is that valuers be aware of how profoundly market cycles concepts and circumstances influence property values – and implement that knowledge in property valuation assignments.

This briefing considers the implications of using market cycles knowledge as a core resource for the property valuer. All involved in the property discipline must recognise that market cycles dramatically influence property values at any one point in time.

Societies, cultures, governments, business and places depend upon and have major stake in competent, responsible, informed decisions about properties and property interest. This research contributes to superior property practice – and therefore supports the interests of societies, cultures, governments, business and places.

This briefing provides guidance on how to interpret markets, market cycles and market information that feed into property pricing and market value.