Search results

This study aims to test the validity of the Rajan theory in South Africa and other selected emerging markets (Chile, Peru and Brazil) during the period 1975–2019.

In this study, the researchers used time-series data to estimate a Bayesian Vector Autoregression (BVAR) model with hierarchical priors. The BVAR technique has the advantage of being able to accommodate a wide cross-section of variables without running out of degrees of freedom. It is also able to deal with dense parameterization by imposing structure on model coefficients via prior information and optimal choice of the degree of formativeness.

The results for all countries except Peru confirmed the Rajan hypotheses, indicating that inequality contributes to high indebtedness, resulting in financial fragility. However, for Peru, this study finds it contradicts the theory. This study controlled for monetary policy shock and found the results differing country-specific.

The findings suggest that an escalating level of inequality leads to financial fragility, which implies that policymakers ought to be cautious of excessive inequality when endeavouring to contain the risk of financial fragility, by implementing sound structural reform policies that aim to attract investments consistent with job creation, development and growth in these countries. Policymakers should also be cautious when implementing policy tools (redistributive policies, a sound monetary policy), as they seem to increase the risk of excessive credit growth and financial fragility, and they need to treat income inequality as an important factor relevant to macroeconomic aggregates and financial fragility.

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The author approaches the discussion using a theoretical and historical reconstruction based on published and unpublished materials.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.

It is rather common for China’s current academic circles to use western doctrines that originated in situ to explain China’s economic problems, a suspicion of scenario misplacement may thus arise. The root cause lies in the lack of reflection about the current relationship between economic thoughts and realities. The paper aims to discuss these issues.

Correctly understanding economic thoughts associated with the brand of “that era” and effectively deducing its characteristics is of great significance to finding new features of this era and constructing new ideas with the characteristics of “this era.”

This motif is exactly the keynote on which to base the study of economic history and economic thought.

In a period of major historical turning points, the economic realities on which the economic thinking about that era (the era of economists) relied was undergoing major changes, and re-emphasizing the ancient topic of the relationship between economic thoughts and economic realities became particularly urgent.

In the African context, the threat of the disruption of traditional business value-creation processes, currently facilitated by the growing information technology (IT) ecosystem, came with the coronavirus disease 2019 (COVID-19) pandemic. Thus, this paper aims to investigate the impacts of the COVID-19 pandemic on interfirm relationships within the context of the digital ecosystem in Africa.

This study employs an explanatory–exploratory qualitative approach from an interpretivist stance to investigate the impacts of the COVID-19 pandemic on interfirm relationships. The authors conducted seven in-depth interviews with top management executives in a Nigerian technology company, together with the company's archival data that provided the pre, during and post pandemic (2018–2021) business-to-business (B2B) relationship structures, to determine how these relationships have been affected.

The results suggest that the pandemic had a minimal effect on partnership relationships in the B2B ecosystems of the case company but affected only non-partnership relationships.

The authors' qualitative study is interpretive and the sample size is limited. Hence, there is a need for caution in generalizing the findings. The framework can be further validated across a wider population.

Partnerships can help organizations weather business crises. Consequently, organizations should maintain a healthy number of partnership relations to deal with periods in which challenges emerge in the business landscape. In other words, with tight contracts and a strategic focus on goals and objectives, partnership relations can help organizations weather business crises.

This study builds upon the burgeoning body of literature on digital ecosystems within the African context, which is a relevant contextual contribution.

Empresa Brasileira de Pesquisa Agropecuária (Embrapa, the Brazilian Agricultural Research Corporation), owned by the Brazilian Government, is one of the most efficient agencies for promoting sustainable tropical agriculture in the world. However, although information is available, farmers do not always put the technologies and knowledge into practice. There is a large difference between the average productivity of farmers and crop or herd potential. Thus, this paper aims to describe and analyze the process of technology transfer of the Embrapa Agrobiology Unit.

The study reviewed the classical and diffusionist models of technology transfer (TT) in Brazilian agriculture and the role of the government in innovation. This was based on documentary research and structured interviews with four employees, supported by a structured roadmap composed of four categories for analysis: the role of TT; the organizational structure of the area; the TT strategies; and the ways of delivery, methods and tools of TT. By a qualitative approach, the results were treated through content analysis.

The results indicated that the area of TT at Embrapa went through a recent restructuring, which included the interchange and collective construction of knowledge (ICC) in its TT process, to turn entrepreneurship into reality. The company is dedicated to bringing knowledge to the most important people: farmers. This has been done through a participatory TT model, which has involved multiplier agents from the research stage to the transfer stage.

Some limitations were found, among them, the fact that only internal members of Embrapa were interviewed, limiting the view of the TTICC staff and without knowing the multiplier agents’ opinion and other actors involved in the process. In addition, it is a qualitative research that is subject to the interpretation of the researcher.

This study contributed to reflections about the TT process and how it can be used by different actors, along with the role of the State in innovation.

In addition to contributing to the development of products, processes and technologies for the economic, social and environmental development of Brazil, Embrapa has been outstanding in generating knowledge for the advancement of science. Its results have had impacts not only nationally but also worldwide. Embrapa has played a key role in Brazilian agriculture as well as in livestock, mainly, in supporting governmental projects and in the implementation of public policies.

The aim of this study was achieved, as there was a possibility of describing and analyzing the technology transfer process at Embrapa Agrobiology Unit, located in the city of Seropédica, Rio de Janeiro. It is concluded that Embrapa has been committed to involving the farmer in the process of interchange, collective construction of knowledge and technology transfer. The farmer has become the focus of this process, reducing the development of “shelf” researches and increasing the participation of the farmer or of the multiplier agent. The importance of studying and knowing the process of technology and knowledge transfer to the public of interest should be highlighted, and especially the reasons why this technology or knowledge are often not adopted by the public. It was possible to identify that Embrapa has noticed the difficulties of farmers and realized that the best way the best way of transforming technological solutions and knowledge into innovation is by involving the farmer in the process of construction and of transfer. Thus, the farmer gives greater credibility to the technology or generated knowledge because this is something that he himself helped build. In the sphere of contemporary institutional knowledge management, Embrapa has had as its main point of departure the demand and the needs of society. For this, it has created means to ensure the participation of different actors because they signal the construction of technological solutions and of innovation and they are the ones who know the real situation. However, this is a recent progress within Embrapa that has evolved and generated results. Thus, research, science and technology institutions must go beyond technology transfer and must ensure the involvement, participation and interaction of the public of interest to promote significant change, social, economic and environmental development and transformation. Embrapa observed this from the referential framework that included technology transfer, interchange and the collective construction of knowledge.

In this study, the authors build on the current frameworks of happiness provided by the PERMA model, the World Happiness Report Index and the theoretical framework provided by the proponents of job-satisfaction model, motivation, employee engagement and commitment. The authors argue that, the existing theoretical framework in the management and the HR literature are just different aspects of a common goal – happiness. This position is consistent with the overall happiness projects championed by governments across the world, including the UK, Bhutan, several Scandinavian nations and essentially the United Arab Emirates. A chasm that currently exists in the literature is the availability of a universally acceptable definition for happiness and protocols for measuring happiness. The authors conclude that more research is required to keep pace with industry development relating to employee happiness initiatives.

Using quasi-literature review, the authors analysed selected studies on the theory of happiness to identify how each have treated the concept of happiness in organisations.

It is erroneous to promote national or international happiness initiatives without starting from the micro level – in this case, the institutions of society should start measuring happiness from the micro level to help understand what happiness actually means.

As an opinion piece, its recommendations need to be applied cautiously.

Till date, only a few studies have explored the concept of happiness from micro-organisational level.

This study empirically investigates the level of intellectual capital efficiency amongst the listed commercial banks in Nigeria and the factors influencing its efficient utilisation.

The paper employs the data envelopment analysis (DEA) to determine intellectual capital efficiency for the listed banks in Nigeria using data obtained from their annual financial reports from 2013 to 2019. After obtaining the efficiency scores, the Tobit regression technique was used to analyse the impact of firm-specific factors on intellectual capital efficiency.

The study found that only 8.33% of the sampled Nigerian commercial banks are at optimum capacity in utilising their intellectual capital, while 91.67% are inefficient. It also finds that bank size and directors' shareholdings positively impact intellectual capital efficiency, while market and ownership concentration debar the attainment of optimum intellectual capital efficiency.

This study contributes to very scare literature on intellectual capital efficiency measurements by using the non-parametric analysis (DEA) to measure intellectual capital efficiency for listed banks in Nigeria.

This study showcases the importance of measuring intellectual capital efficiency amongst listed banks in Nigeria. It provides more information to the regulators and stakeholders on the need to enforce the disclosure of the value created from intellectual capital investment.

This study contributes to the scarce literature on measuring intellectual capital efficiency using a non-parametric analysis (DEA). It also provides new insights into the factors that influence intellectual capital efficiency amongst listed commercial banks in Nigeria.

Critical infrastructures (CIs) for essential services such as water supply and electricity delivery are notoriously vulnerable to disruptions. While extant literature offers important insights into the resilience of CIs following large-scale disasters, our understanding of CI resilience to the more typical disruptions that affect CIs on a day-to-day basis remains limited. The present study investigates how the interorganizational (supply) network that uses and manages the CI can mitigate the adverse consequences of day-to-day disruptions.

Longitudinal archival data on 277 day-to-day disruptions within the Dutch national railway CI were collected and analyzed using generalized estimating equations.

The empirical results largely support the study’s predictions that day-to-day disruptions have greater adverse effects if they co-occur or are relatively unprecedented. The findings further show that the involved interorganizational network can enhance CI resilience to these disruptions, in particular, by increasing the overall level of cross-boundary information exchange between organizations inside the network.

This study helps managers to make well-informed choices regarding the target and intensity of their cross-boundary information-exchange efforts when dealing with day-to-day disruptions affecting their CI. The findings illustrate the importance of targeting cross-boundary information exchange at the complete interorganizational network responsible for the CI and to increase the intensity of such efforts when CI disruptions co-occur and/or are unprecedented.

This study contributes to our academic understanding of how network-level processes (i.e. cross-boundary information exchange) can be managed to ensure interorganizational (supply) networks’ resilience to day-to-day disruptions in a CI context. Subsequent research may draw from the conceptual framework advanced in the present study for examining additional supply network-level processes that can influence the effectiveness of entire supply networks. As such, the present research may assist scholars to move beyond a simple dyadic context and toward examining complete supply networks