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Transaction cost economics sees a broad spectrum of governance structures spanned by two types of economic adaptation: autonomous and cooperative. Stakeholder theorists have drawn much inspiration from transaction cost economics but have not paid explicit attention to the centrality of the idea of adaptation in this literature. This study aims to address this gap.

The authors develop a novel conceptual framework applying the distinction between the two types of economic adaptation to stakeholder theory.

The authors argue that the idea of cooperative adaptation is particularly useful for describing the firm’s collaboration with primary stakeholders in the joint value creation process. In contrast, autonomous adaptation is more relevant for firms interacting with secondary stakeholders who are not directly engaged in joint value creation and may not have formal contractual relationships with the firm. Accordingly, cooperative adaptation can be seen as vital for resolving team production problems affecting joint value creation, whereas autonomous adaptation addresses how the firm maintains legitimacy within the larger stakeholder environment.

Similar to its significance for transaction cost economics, the distinction between the two types of adaptation equips stakeholder theory with a new systematic understanding of a potentially broad spectrum of firm–stakeholder collaboration forms.

Forcibly displaced refugee entrepreneurs face extra challenges that are beyond the barriers that face immigrants and hosts in their journey towards starting up, growing and developing their businesses. This study aims to critically examine the opportunity identification (OI) of forcibly displaced refugee minority women entrepreneurs in Glasgow.

Qualitative semi-structured face-to-face interviews with 10 participants were conducted, including 6 forcibly displaced women entrepreneurs and 4 stakeholders. A six-step thematic framework for data analysis with NVivo 11 was used.

Findings revealed that forcibly displaced refugee women’s entrepreneurial opportunities occur through a dynamic identification, discovery, recognition and exploitation of opportunities. Women-led businesses remain underdeveloped due to restrictions imposed by the Scottish Government, Westminster Government and local council authorities.

This study was only conducted in Glasgow areas, although this is where most of the forcibly displaced groups live. The research team suggests that further studies with a large sample cutting across more local authorities beyond Glasgow should be conducted.

The empirical findings serve practitioners, local authorities business managers, researchers and policymakers. The study reveals a gap and lack of support and specific training and programmes that could positively benefit forcibly displaced refugee women entrepreneurs within the host communities.

The novelty of this study lies in the research topic which is still understudied. This is together with the new empirical findings of entrepreneurial OI and the provision of insights related to challenges facing forcibly displaced refugee women entrepreneurs in Glasgow.

Good management strives to align and corporate processes for more attention being paid to supply chain management. Firms realize that greater co-operation and improved coordination can help to manage the entire supply chain more efficiently. The imperfect quality item is one of the most important issues that affect the expected profit of green supply chain. The imprecise cost with screening process of poor quality items posed in supply chain is the subject of this study.

The present study explores production model for imperfect items having uncertain cost parameters with three-layer supply chain encompassing supplier, manufacturer and retailer. The model is considering the impact of business tactics such as order size, production rate, production cost and appropriate times in various sectors on collaborative marketing systems. Due to imprecise cost parameters, the pentagonal fuzzy numbers are set to fuzzify the total cost and defuzzifition by using graded mean integration.

This study offers an explicit condition in uncertain environment to manage the imperfect quality item to increase the potential profit of the supply chain. The influence of changes in parameter values on the optimal inventory policy under fuzziness is provided managerial insights.

This model makes a significant contribution to fuzzy inference. The results of the study provide a trading strategy for the industry to avoid losses. The prescribed study can be suitable for the industries like sculpture, jewelry, pottery, etc.

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.

The advent of technology has propelled audit firms to incorporate AI-based audit services, bringing the relationship between audit clients and firms into sharper focus. Nonetheless, the understanding of how AI-based audit services affect this relationship remains sparse. This study strives to probe how an audit client's satisfaction with AI-based audit services influences their trust in audit firms. Identifying the variables affecting this trust, the research aspires to gain a deeper comprehension of the implications of AI-based audit services on the auditor-client relationship, ultimately aiming to boost client satisfaction and cultivate trust.

A conceptual framework has been devised, grounded in the client-company relationship model, to delineate the relationship between perceived quality, perceived value, attitude and satisfaction with AI-based audit services and their subsequent impact on trust in audit firms. The research entailed an empirical investigation employing Facebook ads, gathering 288 valid responses for evaluation. The structural equation method, utilized in conjunction with SPSS and Amos statistical applications, verified the reliability and overarching structure of the scales employed to measure these elements. A hybrid multi-analytical technique of structural equation modeling and artificial neural networks (SEM-ANN) was deployed to empirically validate the collated data.

The research unveiled a significant and positive relationship between perceived value and client satisfaction, trust and attitude towards AI-based audit services, along with the link between perceived quality and client satisfaction. The findings suggest that a favorable attitude and perceived quality of AI-based audit services could enhance satisfaction, subsequently augmenting perceived value and client trust. By focusing on the delivery of superior-quality services that fulfill clients' value expectations, firms may amplify client satisfaction and trust.

Further inquiries are required to appraise the influence of advanced technology adoption within audit firms on client trust-building mechanisms. Moreover, an understanding of why the impact of perceived quality on perceived value proves ineffectual in the context of audit client trust-building warrants further exploration. In interpreting the findings of this study, one should consider the inherent limitations of the empirical analysis, inclusive of the utilization of Facebook ads as a data-gathering tool.

The research yielded insightful theoretical and practical implications that can bolster audit clients' trust in audit firms amid technological advancements within the audit landscape. The results imply that audit firms should contemplate implementing trust-building mechanisms by creating value and influencing clients' stance towards AI-based audit services to establish trust, particularly when vying with competing firms. As technological evolutions impinge on trustworthiness, audit firms must prioritize clients' perceived value and satisfaction.

To the researcher's best knowledge, no previous study has scrutinized the impact of satisfaction with AI-based audit services on cultivating audit client trust in audit firms, in contrast to past research that has focused on the auditors' trust in the audit client. To bridge these gaps, this study employs a comprehensive and integrative theoretical model.

The objective of this study is to analyze the influence of institutional quality on the attainment of the Sustainable Development Goals (SDGs) using a data set comprising 45 African nations during the timeframe 2000 to 2020.

The data are divided into two periods, with the Millennium Development Goals (MDGs) data covering the years 2000–2015 and the SDGs data spanning from 2015 to 2020. Controlling for other factors, the researcher employs an index of institutional quality and applies the generalized method of moments (GMM) method to analyze the data.

The findings demonstrate a noteworthy inverse relationship between institutional quality and the achievement of both the MDGs and SDGs. The findings reveal a significant and positive link between economic growth and the achievement of the MDGs, while the impact on the SDGs is shown to be insignificant. Population growth significantly drives the SDGs. The results further reveal that trade openness and industrialization contribute positively to the achievement of both the MDGs and SDGs.

The findings emphasize the importance of improving institutional quality, promoting economic growth and supporting trade openness and industrialization for sustainable development in African countries.

The contribution of the study is twofold. Firstly and to the best of the author’s understanding, this research marks an initial endeavor to empirically investigate the nexus between institutional quality and the SDGs in the context of Africa. Secondly, it adds novelty to the literature by examining how institutional quality influences both the SDGs and their precursor the MDGs, providing insights into the actual contribution of institutions to development within the framework of these two major global compacts.

In developing countries, banks play a major role by acting as a conduit for the effective mobilization of funds from the surplus sectors of an economy for onward lending to the deficit sectors for productive investments that will in turn increase the level of employment and economic growth. There has being a rising trend in unemployment rate in Nigeria and South Africa and hence, the need for the study to assess the effectiveness of banking system credit in curbing unemployment rate by making a comparative analysis of Nigeria and South Africa covering the period of 1991–2018.

The study employed the unit root test, Johansen cointegration test, vector error correction model and VAR impulse response function in determining the relationship between the variables.

The major findings revealed that banking system credit matters in curbing unemployment rate in South Africa than in Nigeria. Also, other macroeconomic factors such as lending rate, inflation rate, Government expenditure and population growth were significant enough in influencing unemployment rate in South Africa than in Nigeria. Foreign direct investment was a significant factor in reducing unemployment rate in Nigeria than in South Africa. The cointegration test showed a long-term relationship between the variables in both countries while the speed of adjustment coefficient of the vector error correction model is faster in South Africa than in Nigeria.

Previous empirical studies on the relationship between banking system credit and unemployment rate have focused much on other regions such as Asia and Europe. Thus, the study is unique as it focused on the African region and also made a comparative analysis by testing the Keynesian theory of employment, interest and money on two emerging African economies which are Nigeria and South Africa.

This study aims to help develop “business principles for stakeholder capitalism” in two steps. First, the study defines internal logic of three theories of capitalism and two variants within each theory. Second, it examines approaches to integration into modern democratic capitalism. Treating the three theories as substitutes identifies relative strengths and weaknesses; complementarity and partial overlap approaches to integration study the institutional settings within which stakeholder capitalism operates. Empirical outcomes reflect competition between market and stakeholder businesses for participants, with institutional conditions determining the scope of collective action.

The approach aligns three typologies in a unique conceptual arrangement defining the three theories of capitalism: forms of capitalism, potential failures of each form and associated types of goods. The first method examines the internal logic of each theory of capitalism. The second draws on traditional narrative review of references documenting each theory of capitalism and variants together with modern Marxist anti-capitalism.

Three typologies align uniquely with the theories of capitalism, each having two variants. Both variants of stakeholder capitalism are compatible with compassionate capitalism, constitutional government or polycentric governance but not with self-interest capitalism, dictatorship or Marxism. A theory of modern democratic capitalism allocates roles for private, club and social goods with empirically variable mixes occurring across countries. Competition among different types of enterprises provides an empirical test for comparative advantages of stakeholder capitalism. Future research should consider approaches for testing the proposed conceptual scheme in practice concerning capacity to deal with grand challenges, wicked problems and black swan events.

Research approach is limited to logical examination of theories and literature documentation without direct empirical confirmation. The study does not address practical implications for managers and public officials or social implications concerning private incentives, stakeholder cooperation or collective action.

Originality lies in shifting terms of debate about stakeholder capitalism from advocacy of substitute theories to understanding of its relationship to market capitalism and collective action capitalism. Value lies in explaining desirability of theoretical integration of three types of capitalism into a comprehensive framework for modern democratic capitalism.

Drawing upon a political economy approach, this article aims to analyze the transformations in the labor market within the context of contemporary capitalism, focusing on the phenomenon of financialization.

Financialization is defined as a distinct wealth pattern marked by a growing proportion of financial assets in capitalist wealth. Within financial markets, corporate performance is continuously assessed, in a process that disciplines management to achieve expected financial results, with consequences throughout corporate management.

We find that this phenomenon has implications for labor management, resulting in the intensification of labor processes and the adoption of insecure forms of employment, leading to the fractalization of work. These two mechanisms, added to the indebtedness of workers, constitute three elements for disciplining labor in contemporary capitalism.

We argue that these forms of discipline constitute a subsumption of labor to finance, resulting in an increase in labor exploitation. This formulation of the relationship between financialization and changes in the realm of labor also contributes to understanding the unrealizing potential of social free time in contemporary capitalism.

The Great Resignation has led to a significant increase in the number of people quitting their jobs due to reasons such as stagnant wages, rising cost of living, job dissatisfaction and safety concerns. Therefore, the aim of this study is that it is important to help people develop better cognitive resources to face adversity.

The Great Resignation has led to a significant increase in the number of people quitting their jobs due to reasons such as stagnant wages, rising cost of living, job dissatisfaction and safety concerns. Therefore, it is important to help people develop better cognitive resources to face adversity. In this study, we administered a questionnaire to 250 employees to determine the variables that could help them build cognitive resources. These variables included the satisfaction of basic psychological needs (autonomy, competence and affiliation), psychological capital, motivation regulation (within the self-determination theory) and well-being (assessed by self-esteem, positive emotions, positive automatic thoughts and vitality). The results revealed that satisfaction of basic needs is associated with better psychological capital and more self-autonomous behavior, which leads to higher psychological well-being. These findings are discussed in the paper, emphasizing the importance of management and work context that satisfy the basic needs and help to build resources with psychological capital.

The results revealed that satisfaction of basic needs is associated with better psychological capital and more self-autonomous behavior, which leads to higher psychological well-being. These findings are discussed in the paper, emphasizing the importance of management and work context that satisfy the basic needs and help to build resources with psychological capital.

Highlight the importance of consequences of the Great Resignation and the need to internationalize this concept.