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This study aims to present the perspectives of heterodox economics and Islamic economics on environmental economics, as an alternative to mainstream economics, which takes economic growth as its main objective and argues that environmental problems will largely disappear when economic growth is achieved.

In this study, there was no intention to conduct a detailed analysis of heterodox economic models and Islamic economics. Instead, the approaches to the “environment,” which can be considered as an urgent need of the planet, were evaluated, and the inadequate proposals of the mainstream economics’ environmental approach were theoretically criticized and heterodox economics and Islamic economics were proposed as an alternative model.

Heterodox and Islamic economics offer alternative models of development prioritizing social and ecological justice to address environmental problems, which is in contrast to mainstream economics’ narrow focus on market mechanisms and individual rationality. Thus, engaging in more dialogue in the context of the environment is inevitable for both schools, considering the vast geography inhabited by Muslims and the proposed heterodox economic policies, and moreover, these approaches are modeled for the first time.

This article presents a synthesis of Islamic economics and heterodox thinking in contrast to mainstream economic policy, highlighting their similarities and differences and providing a more comprehensive understanding of the complexities and potential solutions of environmental problems. To the best of the authors’ knowledge, this approach has not been previously explored, making it an original contribution to the literature.

The global financial crisis (GFC) has undermined the legitimacy of orthodox neo-classical economic assumptions, which nevertheless continue to frame the philosophical assumptions of teaching in business schools. The purpose of this paper is to make a case in favour of an expansion of the business school curriculum to incorporate behavioural economics. The paper will also contend that behavioural economics can be connected to social economics, as they are both heterodox in this study and analyse economic phenomenon outside of a neo-classical framework. The aim is to contribute to arguments for an expanded curriculum, beyond the framing assumptions of neo-classical rationalism. This paper will also support its case by reviewing behavioural economics to make the case that this literature can be connected to social economics. This assertion is based on shared connections, including the importance of Kantianism in behavioural economics and in social economics. These connections will be discussed as a common point of reference points, or ties that can serve to broker links between these two economic paradigms. Practical implications (if applicable) the GFC presents an opportunity to re-shape the business school curriculum to acknowledge the centrality of socio-economics and behavioural economics, and consequently to offer an alternative to the dominant ontological assumptions – taken from the economic understanding of rationality – that have previously underpinned business school pedagogy.

The paper presents an inter-disciplinary teaching case, which incorporates socio-economic and behavioural economics perspectives. The teaching case concerned a socio-economic understanding of corruption and white-collar crime. It was also inter-disciplinary to include inputs from business history and criminology. The teaching case developed an appreciation among students that corruption, white-collar crime and entrepreneurship can be analysed within a social economics and behavioural economics lens.

The teaching case example discussed an alternative socio-economic and behavioural economics understanding to core areas of the MBA curriculum with the potential to be included in other academic disciplines. This enabled students to apply a behavioural economic approach to white-collar crime. The findings derived from this case study are that behavioural economics has the potential to enhance the teaching of socio-economics.

The originality of this paper is to apply behavioural economics to a socio-economic teaching case, in core subject areas of the MBA curriculum.

The aim of this article is to assess the macroeconomic consequences of some specific aspects of financialization (i.e. share buy-back) using a hybrid post-Keynesian model of growth and distribution based on Kaldorian and Kaleckian characteristics.

The study follows a post-Keynesian approach and deals with financialization issues by implementing several numerical simulations.

The numerical simulations reveal the negative real impacts of massive share repurchases on the rate of accumulation because they immediately siphon off revenues directly intended for investment projects. Moreover, the negative effect of share buy-backs is reinforced especially when firms' investment decisions are more sensitive to a variation in retained earnings. Next, this macro-model also reproduces several well-known figures of the Kaleckian tradition and the paradox of costs.

The present article can be considered as a starting point for further theoretical extensions and requires empirical validation.

The Kaldor-Kalecki macro-model could be useful for policymakers who are interested in containing some of the negative excesses of financialization.

This article examines whether accountability can contribute to the analysis of effectiveness in grassroots voluntary organizations (GVOs) in France.

Based on recent studies and stakeholder theory, hypotheses are formulated about the negative link between accountability and financial effectiveness and a positive link between accountability and non-financial effectiveness.

The findings show that accountability practices are positive determinants of financial indicators (apart from return on assets [ROA]) and employment of people in difficulty. In contrast, the other non-financial indicators are not explained by accountability practices.

The study points out the complexity and paradoxes surrounding accountability and highlights the risk of insensitivity to it. It thus underlines a specific French situation, close to the risks of myopia linked to accountability. One possible explanation could be the coupling and decoupling mechanisms that allow non-profit organizations (NPOs) to regain power. Given the sometimes-random effects of accountability, producing nuanced theories is necessary, and governance should oscillate between equilibrium and adaptation in the face of stakeholders. Finally, this article introduces the risk of insensitivity of NPOs to accountability (i.e. they act as they wish, regardless of control mechanisms such as accountability).

This study thus reveals governance dilemmas, which could be solved through less formal, more mission-oriented, more creative and therefore heterodox accountability.

The French context of mistrust of certain managerial approaches and the development of codes of governance based on a disciplinary vision are confronted with a growing and critical literature on accountability in NPOs.

This study aims to discuss the behavioral economics and Islamic economic joint criticisms against the conceptual and economic political view of the mainstream.

The purpose of this study is to examine the effectiveness of mainstream economic policies in addressing unemployment. Furthermore, it critically assesses the mainstream perspective on unemployment within the contexts of Islamic economics and behavioral economics, separately. The commonalities and disparities between the approaches of Islamic economics and behavioral economics regarding unemployment are evaluated. Subsequently, the conventional viewpoint on unemployment is scrutinized from the combined standpoint of Islamic economics and behavioral economics. This article employs a theoretical approach to address these concerns.

Although there are some differences, the recommendations and values of Islamic Economics and behavioral economics in the context of unemployment are almost the same. And, more importantly, both approaches are similar in their emphasis on the ineffectiveness and distance from human values of mainstream economic policies.

This article is the first to examine unemployment from the joint perspectives of Islamic economics and behavioral economics. It is also the first article to criticize the mainstream view of unemployment from the common framework of these two approaches.

This study aims to outline the research field of initial public offerings (IPOs) pricing and performance by combining bibliometric analysis with a systematic literature review process.

The study uses over three decades of IPO publication records (1989–2020) from Scopus and Web of Science databases. An analysis of keyword co-occurrence and bibliometric coupling was used to gain insights into the evolution of IPO literature.

The study categorized the IPO research field into four primary clusters: IPO pricing and short-run behaviour, IPO performance and influence of intermediaries, venture capital financing and top management and political affiliations and litigation risks. The results offer a framework for delineating research advancements at different stages of IPOs and illustrate the growing interest of researchers in IPOs in recent years. The study identified future research potential in the areas of corporate governance, earning management and investor sentiments related to IPO performance. Similarly, the study highlighted the opportunity to test multiple theoretical frameworks on alternative investment platforms (SME IPO platforms) operating under distinct regulatory environments.

To the best of the authors’ knowledge, this paper represents the first instance of using both bibliometric and systematic review to quantitatively and qualitatively review the articles published in the area of IPO pricing and performance from 1989 to 2020.

The study examined the impact of financial development, foreign direct investment, market size and trade openness on domestic investment for 119 countries divided into four panels that are low-income countries (LIC), lower middle-income countries (LMIC), upper middle-income countries (UMIC) and high-income countries (HIC) between 1995 and 2019.

The present study bases its empirical procedure on the bases of the data mix. To this end, based on the presence of cross-sectional dependence, covariate-augmented Dickey–Fuller unit root and Westerlund cointegration second-generation tests were employed to validate the stationarity and cointegration of the variables, respectively. The novel Dynamic Common Correlation Effects estimator was employed to estimate the heterogeneous parameters while the Dumitrescu and Hurlin test was used to test for causality direction of the highlighted variables.

The empirical results show that market size and trade openness had a positive and statistically significant effect on domestic investment for all the income groups. Results also show that financial development had a positive and statically significant effect on domestic investment only for LMIC and HIC economies, while a positive and statistically insignificant effect was obtained for LIC, UMIC and the global panel. The causality results revealed a bidirectional relationship between domestic investment and the exogenous variables – financial development, foreign direct investment, market size and trade openness.

It is therefore, recommended that LIC and LMIC need to consider harmonising the financial system to lower credit limitations and adopt business-friendly policies. HIC and UMIC should seek more outward FDI policies and harmonise their trade policy, to reap more benefits from FDI and international trade.

On novelty, previous studies have been criticised for the effect on technical innovation of bank financing and institutional quality. This research tackles the deficiency using systematic institutional quality indicators and by taking other variables into account.

This research seeks to provide methodological bases for the identification, documentation and critical reflection of good practices of architectural design in built heritage. These are applied explicitly to the School of Porto architects, which express a high sense of pedagogy and community practice in this field. The methodological approach defines the selection criteria for a georeferenced inventory and the procedures for in-depth analysis of adaptive reuse strategies.

The works included in the inventory were selected according to geographical, chronological, typological, qualitative and quantitative criteria. The cases chosen for in-depth analysis have been studied along four thematic axes to dissect all the intervention processes (previous state, design/construction and final state). This approach is supported by a cross-analysis of different sources (oral, written, graphic) and using drawing as a fundamental research tool.

The research has collected and disseminated up to 150 works by 44 architects, providing a comprehensive portrait of heritage intervention by the School of Porto over the past decades. The selection of 22 buildings for in-depth documentation reveals a particular sensibility toward the cultural values through a case-by-case approach based in deep knowledge of the preexisting context and the introduction of contemporary additions in continuity and harmonious relation with the environmental and sociocultural context.

This work provides a novel methodology suitable for further extension and adaptation to other case studies, as a first contribution to a more comprehensive “Atlas of Architectural Design in Built Heritage” with European case studies. The research aims to introduce new and deeper perspectives on reference works that may constitute pedagogy for the future practice of architects within contextual, inclusive and sustainable approaches.

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.

Differences in annual publication counts may reflect the dynamic of scientific progress. Declining annual numbers of publications may be interpreted as missing progress in field-specific knowledge.

In this paper, we present empirical results on dynamics of progress in economic fields (defined by Journal of Economic Literature (JEL), codes) based on a methodological approach introduced by Bornmann and Haunschild (2022). We focused on publications that have been published between 2012 and 2021 and identified those fields in economics with the highest dynamics (largest rates of change in paper counts).

We found that the field with the largest paper output across the years is “Economic Development”. The results reveal that the field-specific rates of changes are mostly similar. However, the two fields “Production and Organizations” and “Health” show point estimators which are clearly higher than the estimators for the other fields. We investigated the publications in “Production and Organizations” and “Health” in more detail.

Understanding how a discipline evolves over time is interesting both from a historical and a recent perspective. This study presents results on the dynamics in economic fields using a new methodological approach.