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Transitional entrepreneurship in distressed economies is a fairly new concept with respect to new ventures in such challenging economic environments. Formal institutional voids are sometimes held up as a reason for the difficulties present in distressed economies, along with exogenous shocks and other upheavals. In this research, the authors seek to contribute empirically and theoretically as to ways in which formal institutions voids can be filled by a culture developed by transitional entrepreneurs. Indeed, in transition economies, formal institutions need to be enhanced by informal institutions to control corruption and other misbehavior by authorities. Iranian economists emphasize these essential reforms to be able to manage current difficulties, yet top down policies cannot help transitional entrepreneurs benefit from the country’s value-adding cultural heritage to informally address this. To study this, qualitative research methods were used to interpret transitional entrepreneurs’ ideology and ethical routines as the ingredients of a commercial culture that can establish soft law that substitutes for formal institutions. This helps to reduce the disfunctionality of formal institutions in distressed economies.

A thematic analysis interviewing key Iranian entrepreneurs and economists is conducted. Also based on an interpretive paradigm, a hermeneutic cycle has been carried out on selected texts. Results have been verified throughout related literature as to come up with a solid synthesized interpreted outcome.

This paper contributes to theory from a new perspective by discussing transitional entrepreneurship and navigating a distressed economy; in which, ideology and ethics as the ingredients of soft law (Newman and Posner, 2018) are discussed as the base to further develop a commercial culture that fills voids of formal institutions. The formal–informal institutional cycle in distressed economies as the major difficulty entrepreneurs face (Peng and Luo, 2000) is important, because they try to increasingly enhance their move toward a market orientation (Bruton et al., 2008). The authors contribute as to how transitional entrepreneurs can complete this process of adaptation and also the fact that those informal institutions do actually respond to those adaptations. The other contribution is to enrich theories about institutions from the point of view of culture. Knowing these facts helps transitional entrepreneurs, because in distressed communities, formal institutions’ function has an important effect on economic performance (Amorós, 2009). This research’s contributions shed light to help government leaders understand the pros and cons of their actions forced on the industry. As it has been characterized in this research, it can turn in to new formal set of legitimacies (Ahlstrom et al., 2008) to root out corruption and help set the economy on a path to innovation and new venture creation.

Transitional entrepreneurs can depend on the less formal cultural-cognitive aspect of ethics and ideology. These entrepreneurs can be working on the burgeoning private sector, who want to connect with the outside effectively to overcome an economy in distress. Transitional entrepreneurs may face governmental institutional intermediaries as a barrier. Formal intermediaries tend to benefit from inefficiencies caused by hierarchal orders and will improve informality in order to overcome difficulties. In this research, institutional theory from the third pillar of the cultural-cognitive sheds light on transitional entrepreneurship in distressed economies, where inquiry is to fill voids of formal institutions as a process of possible linking between new generated soft law derived by beliefs, ideology and professional morality in order to influence (old) legitimacies. The research’s focus evolves on values transitional entrepreneurs utilize to build informal institutions and then impact further on formal institutions to handle distressed communities. This theoretical background expands on subsections to define conceptual building blocks for the study, essential aspects such as individuals as transitional entrepreneurs, the values they utilize to generate soft law, informal institutions and soft law, to manage voids in formal institutions and legitimacy building aspects in policy agenda setting for transitional entrepreneurship in distressed economies.

Despite the increasing popularity of entrepreneurship among students in colleges and university, there is a surprising scarcity of theoretical or empirical research on this topic. In this article, we define the concept of student entrepreneurship, delineate its domain, and demarcate its boundaries. We propose a preliminary typology of student entrepreneurship rooted in the works of three leading economists from the Austrian School of Economics: Joseph Schumpeter, Israel Kirzner, and Ludwig Lachmann. We also identify and discuss important challenges associated with the practice of student entrepreneurship. The article concludes by advancing a future research agenda for the study of student entrepreneurship.

This study aims to investigate how university students' basic psychological needs (autonomy, competence and relatedness) determine whether coaching or training is more supportive for them.

Real-life coaching (N₁ = 110) and training (N₂ = 176) processes with students as clients were examined, measuring the students' needs before the coaching/training, their need fulfilment after the coaching/training and their satisfaction and goal attainment/intrinsic motivation after the coaching/training.

The results show that university students with a higher autonomy need had this need fulfilled to a greater extent through coaching, while university students with a higher competence need had this need fulfilled to a greater extent through training.

The research focused on university students and was conducted at German-speaking universities, so it is unclear to what extent the findings are transferable to other contexts. In addition, future research is needed to further compare other personal development tools, such as mentoring or consulting.

The results depict the relevance of the most appropriate personal development tool (coaching or training) depending on students' needs. Furthermore, coaches should be autonomy-supportive, while trainers should be competence-supportive.

Supporting students with the most appropriate personal development tool is essential for the effectiveness of this tool. Thus, the personal development tool used should reflect students' needs: students with a high autonomy need should receive coaching, while students with a high competence need should receive training.

Relatively few comparative studies have examined how perceptions across cultures might converge or diverge regarding careers in general and new venture careers in particular. Our research addresses this gap by providing a comparative study of career perceptions among undergraduate business students in three countries with different levels of experience with capitalism: Ukraine, South Korea, and the United States. Results suggest both surprising differences and interesting similarities between undergraduate students in the three countries with regard to how they perceive characteristics associated with entrepreneurial careers. Findings are discussed in the context of distinct differences and commonalities across cultures and implications for future research provided.

This article examines entrepreneurship courses offered by engineering faculties in Canada. The venturing rate of engineering students, whether the venturing rate increases if students have taken a course in entrepreneurship, and the type of ventures created are also explored. A recent census and an empirical study of two groups of engineering graduates from a Canadian university were utilized. Findings have implications for educators and administrators and for policy-makers interested in encouraging economic growth.

This paper aims to show that zakat solves the collective action problem by changing the framework of giving. An additional purpose of this paper is an attempt to fill a critical gap in the Islamic economics literature. This gap concerns the nature and role of zakat in effectively delivering aid to those in need while mitigating the potential for free riding. There is also a general gap in the current literature on Islamic economics that the issues of zakat and charity have not received the same attention as the focus remained mostly on money, banking and the issues of interest and usury. The paper is also an attempt to provide a refocus.

This paper attempts to build an argument to show how zakat can function as a unique solution to the free-rider problem in voluntary charity. The author’s argument is based on a precise theoretical framework, namely the “free-rider problem,” and how zakat can function as a unique solution to this problem. The author also uses game theory to show how reputation can lead to cooperation in a repeated game. The author uses an example from Pakistan to show how reputation can be a disciplinarian of zakat collection organizations.

Zakat solves both the free-rider problem in ordinary charity and the coordination problem between members in a large group. The free-rider problem is solved by changing the very framework of giving and the coordination problem between Muslims around the globe disappears because the rates and details of levying zakat are centrally created based on divine revelation.

This paper presents an important topic as it addresses one of the most popular giving practices in Muslim societies, called zakat. It also provides a framework in examining the meaning and function of zakat in Muslim societies.

The purpose of this paper is to identify essential psychological-informed executive coaching approaches that enhance the organisational learning and development process and outcomes through integrating existing research evidence. Since coaching has been widely used in leadership development related areas and previous studies confirmed that this generates positive effects on individual-level learning in the organisational setting. The identified frameworks and influential factors outlined in this paper can serve as explicit guidelines for the organisation and management team when setting selection and evaluation benchmarks for employing executive coaches.

An integrated review approach was applied to narratively synthesise 234 (k=234) identified peer-review articles between 1995 and 2018. This review followed a rigorous protocol that the authors consulted ten (n=10) experts in the field. Both qualitative and quantitative psychological-focused research evidence was included in this study.

First, certain psychological approaches, such as cognitive behavioural, solution-focused, GROW and strength-based approaches, were highlighted in current research evidence. Second, the essential factors and skills, for instance, building trust, transparency and rapport, and facilitating learning were identified. Third, the main organisational learning and development outcome evaluation methods were outlined in this review, such as the self-efficacy scale, organisational commitment, workplace psychological well-being, 360-degree feedback and the Multifactor Leadership Questionnaire.

It is always challenging to integrate research evidence on coaching because of the diversity of theoretical disciplines upon which coaching interventions draw. Therefore, it is difficult to generate a meta-analytic review which can generate statistical results. This review also reveals room for improvement in the quality of existing coaching evidence in accordance with the criteria for evidence-based management or practice (Briner et al., 2009), such as research methodology and evaluation design. Moreover, there is a lack of evidence on this reflective process which helps professional coaches to ensure the quality of their practice and organisational support.

This review offers a new perspective on the role psychology plays in the organisational learning and development practices. The identified coaching approaches, influential interpersonal skills and outcome evaluation methods can serve as practical guidelines when applying external coaching to facilitate a better organisational learning and development process and outcome.

This is the first literature review to focus on contemporary psychological-informed coaching evidence (between 1995 and 2018) in the workplace setting. Despite the rapid growth in demand for professional coaching practitioners (International Coach Federation, 2016), there is a lack of research-informed evidence to overcome the challenges faced by organisations when employing external coaches, such as what selection criteria or evaluation benchmarks to use. This review takes a practical perspective to identify essential body of knowledge and behavioural indicators required for an executive coach to facilitate an effective learning and development outcome.

Stakeholder theory understands business in terms of relationships among stakeholders whose interests are mainly joint but may be occasionally conflicting. In the latter case, managers may need to make trade-offs between these interests. The purpose of this paper is to explore the nature of managerial decision-making about these trade-offs.

This paper draws on the ordonomic approach which sees business life to be rife with social dilemmas and locates the role of stakeholders in harnessing or resolving these dilemmas through engagement in rule-finding and rule-setting processes.

The ordonomic approach suggests that stakeholder interests trade-offs ought to be neither ignored nor avoided, but rather embraced and welcomed as an opportunity for bringing to fruition the joint interest of stakeholders in playing a better game of business. Stakeholders are shown to bear responsibility for overcoming the perceived trade-offs through the institutional management of social dilemmas.

For many stakeholder theorists, the nature of managerial decision-making about trade-offs between conflicting stakeholder interests and the nature of trade-offs themselves have been a long-standing point of contention. The paper shows that trade-offs may be useful for the value creation process and explicitly discusses managerial strategies for dealing with them.