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1 – 10 of 19Free banking theory, as developed in Adam Smith’s 1776 treatise, “The Wealth of Nations” is a useful tool in determining the extent to which the “invisible hand of the market”…
Abstract
Purpose
Free banking theory, as developed in Adam Smith’s 1776 treatise, “The Wealth of Nations” is a useful tool in determining the extent to which the “invisible hand of the market” should prevail in regulatory policy. The purpose of this study is to provide a timely review of the literature, evaluating the theory’s relevance to regulation of financial technology generally and cryptocurrencies (cryptos) specifically.
Design/methodology/approach
The methodology is qualitative, applying free banking theory as developed in the literature to technology-defined environments. Recent legislative developments in the regulation of cryptocurrencies in the UK, European Union and the USA, are drawn upon.
Findings
Participants in volatile cryptocurrency markets should bear the consequences of inadvisable investments in accordance with free banking theory. The decentralised nature of cryptocurrencies and the exchanges on which these are traded militate against coordinated oversight by central banks, supporting a qualified free banking approach. Differences regarding statutory definitions of cryptos as units of exchange, tokens or investment securities and the propensity of these to transition between categories across the business cycle render attempts at concerted classification at the international level problematic. Prevention of criminality through extension of Suspicious Activity Reporting to exchanges and intermediaries should be the principal objective of policymakers, rather than definitions of evolving products that risk stifling technological innovation.
Originality/value
The study proposes that instead of a traditional regulatory approach to cryptos, which emphasises holders’ safety and compensation, a free banking approach combined with a focus on criminality would be a more effective and pragmatic way forward.
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Jeffrey Muldoon, Joshua S. Bendickson, Eric W. Liguori and Shelby Solomon
Using social relations theory, we argue that entrepreneurship ecosystems must also include relationships such as market pricing, equality matching, authority ranking and communal…
Abstract
Purpose
Using social relations theory, we argue that entrepreneurship ecosystems must also include relationships such as market pricing, equality matching, authority ranking and communal sharing to be successful and thrive.
Design/methodology/approach
We theorize using Fiske’s typology that a successful entrepreneurial system must have certain characteristics to be successful.
Findings
In doing so, we suggest an alternative perspective of the role of exchange relationships in ecosystems which considers both the geographic context and social relationships as equally important ecosystem components. Our contributions include (1) exposing social processes as the explanatory mechanism for exchanges instead of solely market forces, (2) illustrating the role of regional cultural differences in exchanges and (3) emphasizing how entrepreneurs can better realize ecosystem benefits through understanding the methods of exchange in these ecosystems.
Originality/value
Social relationships include a wide variety of different types of resources and exchange mechanisms, so by their inclusion into the entrepreneurship ecosystem literature, a more complete view of ecosystems is possible.
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As the economy re-shapes, so too must the modern organization and its governance. We examine corporate governance codes and their limits in predicting an executive’s performance…
Abstract
As the economy re-shapes, so too must the modern organization and its governance. We examine corporate governance codes and their limits in predicting an executive’s performance. We look at the Code of Professional Practice of executive search consultants, the in-built factors that have prevented the sector from becoming a qualified profession, and how to move beyond them. We examine how sustainability is migrating to the heart of modern governance, and present eight reasons to change existing codes and a call for tolerant governance. Mining engineer Henri Fayol is considered the founder of corporate governance. Despite dramatic changes in management during the past 100 years, much of his theory still holds. We take a tour of Fayol’s thinking, how management has evolved, and examine the unstructured shape of things to come: an organic architecture, an emphasis on knowledge capital and an agile leadership culture. We conclude with “change ability” – an evolutionary leap for the chair, CFO, supervisory board and organizations as a whole. The executive search profession finally comes under a harsh spotlight. What’s next for the profession, in light of digitization, its representation on boards, its effect on diversity? And why do executive search firms need to walk the sustainability talk in the way they seek and position leaders?
An earlier form of this chapter by the author was published in Dutch in “Bestemming Boardroom: over zoeken en gevonden worden” (Boom, Amsterdam, 2018).
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Internationalisation and academic mobility have long been integral parts, although serving different purposes in the higher education industry. Internationalisation has played a…
Abstract
Internationalisation and academic mobility have long been integral parts, although serving different purposes in the higher education industry. Internationalisation has played a crucial role in facilitating academic exchange, knowledge sharing, research partnerships and collaborative innovation. However, the rise of neoliberalism has introduced the market forces of global capitalism that have significantly impacted higher education worldwide – invading the sector with neoliberal market values. This chapter aims to explore the impact of neoliberalism on the internationalisation of higher education in Africa, with a specific focus on trends in international student mobility. The chapter argues that the influence of neoliberalism on international mobility extends beyond market dynamics, encompassing discussions on hegemony within international knowledge systems, where African countries and institutions often find themselves marginalised. The study relies on published materials and publicly available statistical data from both governmental and non-governmental organisations. By examining the interplay between neoliberalism and the process of internationalisation in higher education, this chapter sheds light on the intricate and multifaceted aspects of both concepts, as well as their practical implications for international student mobility. Moreover, the chapter reflects on the implications of neoliberal entanglements for the prospects of internationalisation in African higher education.
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Tiago F.A.C. Sigahi and Laerte Idal Sznelwar
The purpose of this paper is twofold: (1) to map and analyze existing complexity typologies and (2) to develop a framework for characterizing complexity-based approaches.
Abstract
Purpose
The purpose of this paper is twofold: (1) to map and analyze existing complexity typologies and (2) to develop a framework for characterizing complexity-based approaches.
Design/methodology/approach
This study was conducted in three stages: (1) initial identification of typologies related to complexity following a structured procedure based on the Preferred Reporting Items for Systematic Reviews and Meta-Analyses (PRISMA) protocol; (2) backward and forward review to identify additional relevant typologies and (3) content analysis of the selected typologies, categorization and framework development.
Findings
Based on 17 selected typologies, a comprehensive overview of complexity studies is provided. Each typology is described considering key concepts, contributions and convergences and differences between them. The epistemological, theoretical and methodological diversity of complexity studies was explored, allowing the identification of the main schools of thought and authors. A framework for characterizing complexity-based approaches was proposed including the following perspectives: ontology of complexity, epistemology of complexity, purpose and object of interest, methodology and methods and theoretical pillars.
Originality/value
This study examines the main typologies of complexity from an integrated and multidisciplinary perspective and, based on that, proposes a novel framework to understanding and characterizing complexity-based approaches.
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