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The year 1848 is considered by historians as a political and economic turning point in France: a major political crisis took place in the form of the February Revolution, accompanied by extensive financial troubles for the French government. The economists of that time actively debated the economic causes and consequences of the crisis. This chapter is devoted to the analysis of these financial controversies in French economic thought around 1848. If the political and philosophical debates of 1848 between the liberals and the socialists are quite well known by historians of economic thought, their financial side has been relatively neglected. According to the authors of this chapter, it is nevertheless of great interest to examine the liberal and socialist ideas of that time. This chapter aims to investigate this little-studied question by raising three main issues: the first one consists of presenting the different diagnoses of the 1848 financial crisis from socialist and liberal viewpoints. Second, it proposes an analysis of the content of theoretical controversies about ways to overcome the financial troubles, particularly regarding the trade-off between taxation and debt. Lastly, it emphasizes the role of this period for the subsequent constitution of a financial orthodoxy in France.

Purpose: This study investigates internal/own shock in the domestic market and three external volatility spillovers from India, the UK, and the USA to the Sri Lanka stock market.

Need for the Study: The external market’s internal/own shocks and volatility spillovers influence portfolio choices in domestic stock market returns. Hence, it is required to investigate the internal shock in the domestic market and the external volatility spillovers from other countries.

Methodology: This study employs a quantitative method using ARMA(1,1)-GARCH(1,1) model. All Share Price Index (ASPI) is the proxy for the Colombo Stock Exchange (CSE) stock return. It uses daily time-series data from 1^st April 2010 to 21^st June 2023.

Findings: The findings revealed that internal/own and external shocks substantially impact the stock price volatility in CSE. Significant volatility clusters and persistence with extended memory in ASPI confirm internal/own shock in the market. Furthermore, CSE receives significant volatility shock from the USA, confirming external shock. This study’s findings highlight the importance of considering internal and external shocks in portfolio decision-making.

Practical Implications: Understanding the influence of internal shocks helps investors manage their portfolios and adapt to market volatility. Recognising significant volatility spillovers from external markets, especially the USA, informs diversification strategies. From a policy standpoint, the study emphasises the need for robust regulations and risk management measures to address shocks in domestic and global markets. This study adds value to the literature by assessing the sources of volatility shocks in the CSE, employing the ARMA-GARCH, a sophisticated econometrics model, to capture stock returns volatility, enhancing understanding of the CSE’s volatility dynamics.

Family controlled businesses (FCBs) have been found to out-survive and out-earn non-FCBs, and their market valuations reflect that. This edge may be attributed in part to the agency- and stewardship-related consequences of ownership – consequences that via organization governance and design allow many family businesses not only to reap advantages of continuity and focus (“exploitation”), but also to reorient themselves when needed (“exploration”). These capacities rest on qualities such as owners’ discretion, knowledge and incentives, and their stewardship over the mission, core capabilities, people, and external relationships of the firm. We suggest a research agenda to investigate these issues.

Due to the increasing size and complexity of construction projects, construction engineering and management involves the coordination of many complex and dynamic processes and relies on the analysis of uncertain, imprecise and incomplete information, including subjective and linguistically expressed information. Various modelling and computing techniques have been used by construction researchers and applied to practical construction problems in order to overcome these challenges, including fuzzy hybrid techniques. Fuzzy hybrid techniques combine the human-like reasoning capabilities of fuzzy logic with the capabilities of other techniques, such as optimization, machine learning, multi-criteria decision-making (MCDM) and simulation, to capitalise on their strengths and overcome their limitations. Based on a review of construction literature, this chapter identifies the most common types of fuzzy hybrid techniques applied to construction problems and reviews selected papers in each category of fuzzy hybrid technique to illustrate their capabilities for addressing construction challenges. Finally, this chapter discusses areas for future development of fuzzy hybrid techniques that will increase their capabilities for solving construction-related problems. The contributions of this chapter are threefold: (1) the limitations of some standard techniques for solving construction problems are discussed, as are the ways that fuzzy methods have been hybridized with these techniques in order to address their limitations; (2) a review of existing applications of fuzzy hybrid techniques in construction is provided in order to illustrate the capabilities of these techniques for solving a variety of construction problems and (3) potential improvements in each category of fuzzy hybrid technique in construction are provided, as areas for future research.

The purpose of this study is to review a synthesis of International Financial Reporting Standards (IFRS) implementation in developing countries in an attempt to provide directions for future research. The in-depth analysis was performed with the use of the data analysis tool available in the Scopus databases. The study initially reviewed 145 papers and in particular 35 papers were analysed. Fifteen articles (43%) were published in seven journals including International Journal of Accounting, Critical Perspectives on Accounting, Advances in Accounting, International Journal of Accounting and Information Management, Asian Review of Accounting, Journal of Applied Accounting Research, and Asian Journal of Business and Accounting. Specifically, 89% citations were from 14 articles, but 9 (25%) articles were without any citations. Most of the studies focus on qualitative followed by quantitative, and very few studies were based on mixed methods. Researchers should focus on few areas for future research on IFRS implementation in developing countries including theory implications, policy prescriptions, and case of particular standard.

Divestitures and other forms of organizational separation are not commonly associated with continuity and ongoing collaboration in inter-organizational relationships. Instead, separation is often equated with terminating relationships and gaining independence. Here, the authors argue that achieving separation does not require terminating relationships and that ongoing collaboration between separating entities may actually contribute to successful separation. The authors base this argument on the assertion that the objective of organizational separation is to achieve organizational autonomy for all entities involved and that separating entities can enable each other’s development of autonomy while remaining interdependent. The authors also discuss how collaborative separation may contribute to a range of benefits, as well as why it may nevertheless fail to emerge in practice. In this respect, the authors consider the relevance of ethical perspectives and emotional dynamics related to feelings of (dis)respect, (dis)trust, pride and shame. The authors conclude by discussing activities that may contribute to, and undermine, effective collaborative separation.

Malta has long been a tourist destination with visitors totaling 2.6 million in 2018. A 2013 survey by the Malta Tourism Authority found that 22% of tourists opted for a rental car during their stay, whereas 76% chose public transport to meet their travel needs. In recent years, the modernization of the bus fleet, improved information provision, and the introduction of a ferry service in the Valletta harbors, have contributed to the increased appeal of public transport. However, the increase in independent tourists might give rise to an increase in the rentals of individual cars. This is a concern given Malta’s high car ownership, and its ever-increasing congestion problem. As part of the CIVITAS DESTINATIONS Project, focused on tourist sustainable mobility, the University of Malta developed a Tourist Mobility smartphone application: MyMaltaPlan. The app enables tourists to plan trips and schedule itineraries between touristic sites. The app, which was launched in the summer of 2019, aims to encourage a shift toward greener travel behavior. A survey was conducted with tourists to understand current tourist travel behavior, and tourists’ use of smartphone or web applications for trip planning. The vast majority of visitors own a smartphone and use it on holiday to plan, access, or book transport. To test the app’s functionalities, a focus group was held with a group of volunteers who shared their experiences in a group discussion. Participants appreciated the automatically created itinerary but noted that to truly promote sustainable mobility, the app should be able to provide the full picture of available alternatives.

The search for luxurious hospitality experiences increasingly coincides with the imperative to mitigate negative impacts in the pursuit of greater sustainability. This is a task often understood as being complex particularly in the context of luxury hospitality which often resonates with conspicuous consumption. This chapter uses a case study approach to analyze the complex relationship between luxury tourism and sustainability. The study focuses on the development of “luxury” from a materialistic perspective toward an experience economy and relates this to the concept of sustainability and agreements relevant to the tourism industry. The environmental impact of luxury hospitality is then discussed. The case study on properties in Costa Rica, South Africa, the Maldives, Vietnam, and French Polynesia focuses on philosophy, facilities, energy and waste consumption, food and beverage, conservational and educational activities, and alignment to the United Nations Sustainable Development Goals (UN SDGs). The focus is on the properties and shows limitations in that it is not applicable to the whole tourist journey and experience. All properties understand luxury as based on experiences and involvement in nature. Measures to mitigate environmental impact and foster conservational and educational activities are mainstream practices. Comparing the cases with academic literature on luxury, sustainability, ecotourism, and environmental policies underline that sustainability-driven luxury hospitality shows valuable steps toward a more sustainable product but is ultimately faced with the dilemma of taking into consideration and ultimately mitigating the impacts of the entire travel value chain.