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French Republican Model and ‘laïcité, the French version of secularism’, are supposed to protect the citizens, at work or elsewhere, against any form of discrimination and France has a long history of immigration. Ethnical and racial discriminations at work are nevertheless observable towards visible minorities today. People from North African ascendance as well as those from French overseas territories ¹ ’ origins are heavily penalized in the job market. Neither direct and indirect laws nor the ‘voluntary initiatives’ introduced by companies seem able to solve this problem at a time when massive unemployment and terrorist Islamic attacks on the French soil are creating a situation of crisis.

Since the end of the 1990s, the Algerian public authorities have implemented research and innovation policies in order to build a solid National Innovation System (NIS) and improve industrial and economic performance. Today, the NIS remains immature, which hinders the learning and innovation processes. Our objective here is to analyze under a broad vision the Algerian NIS by examining its various components, to evaluate the capacities of training and innovation, and to measure the production of the innovation and the economic performances. Our research question is the following: How could the Algerian public authorities build a solid NIS in order to improve economic performance? To answer this question, we use a research methodology that mobilizes three types of complementary indicators in order to analyze the processes of learning and innovation from a systemic and interactive perspective. We also use economic performance indicators in order to put the analysis into a broader perspective. At the end, we propose action policies in favor of the construction of a complete Algerian NIS to improve economic performance.

This paper is an appraisal of existing literature on IFRS in Africa. In a bid to determine what exists and what is missing in the literature, the authors have reviewed three streams of studies, namely, adoption, compliance/harmonisation and consequences of IFRS in Africa, with the aim to suggest what remains to be investigated on IFRS in Africa.

This paper uses a systematic review approach including synthesis of a variety of archival materials. Articles on Africa were summarised under three main headings: adoption, compliance/harmonisation and consequences of IFRS.

This review finds limited research on IFRS in Africa. It reveals that although past cross-continent studies claimed to cover Africa, they are limited to only a few countries and mainly predominated by South Africa. The authors identified only one study that investigated the impact of economic and cultural factors on IFRS adoption in Africa and few cross-continent studies but considering only very few African countries. Regarding compliance, four studies concluded that compliance with IFRS is dependent on a firm’s characteristics. The authors also identified that some of the generalised findings from prior research on consequences of IFRS are of limited significance in the African context.

This study suggests the determinants of adoption, compliance and consequences of IFRS in Africa are different if studied separately. It identifies some gaps in the literature that require further research, specifically, IFRS on taxation, fair valuation practices and the institutional capacities of countries to implement the standards.

The purpose of this study is to analyze how Internet of Things can contribute to the achievement of a sustainable development based on people, profit and planet. Based on the triple bottom line theoretical framework, this work explores the relation between technology and the creation of value in management operative and support processes carried out by a firm with a direct impact in society and the environment. By doing so, new insights on strategic management to create value and consolidate sustainable business models are provided.

The present study analyzes firms within the context of the European Union, considering the involvement of the region in achieving sustainable development, in particular, the usage of technology and specifically Internet of Things to create value and contribute to company’s position as leaders in the industry’s change toward sustainable development. To achieve this goal, the Spanish market was analyzed, specifically companies who were publicly listed in the IBEX35, which is the benchmark stock market index of Spain’s main stock exchange (Bolsa de Madrid). In addition, firms were also considered regarding the strong impact within their industries not only nationally, but also worldwide.

Findings show that companies incorporating Internet of Things can enhance their role as leaders in change toward sustainable development. Similarly, the usage of these technologies positively impacts the pollution reduction and limiting usage of non-renewable resources, as well as positively impacting people’s lives. Furthermore, technology has a positive effect on the creation of value, considering management, operative and support processes. By considering people and planet, companies can have a profitable business model that is also sustainable in the long-run, creating a win-win situation within the triple bottom line.

This study shows the links between Internet of Things and sustainable development within the framework of the triple bottom line. It portrays the relevance of technology in value creation to achieve business models that can cater to profit, people and planet objectives. Consequently, practitioners can incorporate Internet of Things elements to create value and contribute to their corporate social responsibility objectives, establishing synergies between managerial and socio-environmental aspects. Moreover, researchers studying business strategy can incorporate these variables to further enlarge the results herein derived. Finally, this work reinforces the usage of triple bottom line theory to analyze a firm’s sustainable development and its business models.

The purpose of this paper is to examine the rationale and synergies of a Japanese firm's acquisition of India's leading pharmaceutical firm, Ranbaxy, and to answer the following pertinent questions: could Ranbaxy have been able to survive and succeed, had the firm not gone for this strategic sale to a foreign firm? What is the rationale for this strategic sale immediately after undertaking many major acquisitions during the previous two‐year period? For what strategic reasons did a Japanese firm pay a premium price for this international acquisition?

An exploratory method was used in this study to analyze the rationale and synergies of the acquisition. The method of case writing has been followed as a design (case situation first, then goes back to the past, then comes back to the current situation).

The findings confirm that Ranbaxy got a premium price for agreeing to be acquired for their share (much higher price than the market price). Japanese firm Dai‐Ichi got greater market access and control of Ranbaxy, which were driving factors for them to pay a higher share price for Ranbaxy.

This original study gives insight into the points to be taken into consideration while thinking about international acquisitions.

The development of banking in Africa followed the demand of exchange networks from traditional indigenous economies to colonial exchange with the European world. The establishment of European banking institutions reflected the needs of the capitalist economy introduced by colonialism. The banking management of late nineteenth century and early twentieth century European banks adhered to the interests of shareholders. This chapter shows the emergence of well-managed banks in Africa, but after decolonization the political economy of African independence resulted in state capturing of financial institutions in most African countries. The South African banking system developed in close adherence to the British model. State-owned post-independence banks in Africa failed to deliver the development envisaged. The chapter shows the adverse impact of global economic developments on Africa, resulting in high debt levels. Structural adjustment of African economies and new market-oriented policies allowed the development of locally owned private banking institutions. The high-cost structure of the formal banking system from the dominant South African banks incentivised the mobile money innovation, an arena where African entrepreneurs lead global markets. Financial inclusion remains low in Africa.

The purpose of this study is to evaluate the influence of sustainable business models in building corporate reputation and resilience. Specifically, the financial performance of listed companies will be evaluated following the beginning of the armed conflict in Ukraine on 24 February 2022. Taking as a standpoint the triple bottom line (TBL) theory, the case of firms listed in the Spanish IBEX-35 index is analysed. The present paper evaluates financial performance and corporate reputation, based on the usage of Environment, Social and Corporate Governance (ESG) strategies to adhere to their Corporate Social Responsibility (CSR).

To achieve this goal, energy firms operating in Spain are evaluated. Specifically, companies operating in the energy sector listed in the IBEX35, benchmark index of Spain’s largest trading platform are considered. The analysis comprises evaluating the fluctuation in the value of their stock and the influence of usage of renewable and other power sources that limit dependency on foreign events. In addition, communication and dissemination of non-financial information, and usage of international standards within these areas, are considered as well.

Results show long-term CSR commitments and ESG strategies significantly impact firm’s ability to overcome crises and improve financial performance. Additionally, energy firms that adhered to the energy transition into renewables display stronger performance and lower dependency on uncertain and weakened markets during the Ukraine armed conflict.

The results contribute to the advancement of the TBL theory and the creation of sustainable business models. By introducing ESG strategies, firms are able to improve the people-profit-planet balance and at the same time improve their resilience. This contributes to an overall enhancement of their capacity to overcome crises and sustain their financial performance and corporate reputation over time. Policy makers can also benefit from this knowledge, introducing regulation that promotes and supports companies’ development of their CSR through ESG strategies, to ensure more sustainable organisations that can support the economy in a context of hardship.

The analysis evaluates the results of a firm’s long-term commitment to the TBL through adequate ESG strategies when operating in unexpected and unprecedented hostile environments. Previous research has focused on the link between some variables concerning financial performance and ESG strategies yet not considering the specific context of an enhanced crisis (i.e. a pandemic and armed conflict). This can provide significant insight into the contribution that people, profit and planet can provide in building sustainable and successful organisations. Lastly, the paper outlines the key factors that contributed to the firm’s ability to overcome extreme hardships, such as operating in an environment affected by a combination of two crises.

Propensity to dollarize in Latin America in the demand-side of some economies of the region has a strong political risk component which, in the past, was mainly carried out by inflationary pressures. Coping with risk meant holding FCDs. A recursive multilevel model is developed and empirically tested with Colombia’s data to stress a country-specific tendency to dollarize due to political risk. The chapter’s conclusions suggest that consideration of issues, policies and implications inherent to the decision to dollarize cannot ignore that, the solution to any government-enforced dilemma in the supply-side of these economies, is also politically motivated. Results of a survey are also provided.

Morocco is an expanding developing economy in North Africa with increasing bilateral trade relations with larger economies. This paper aims to examine the features of the expanding market economy and the preceding structural reforms initiated by King Mohammed VI. The paper’s primary focus is to study the systematic feature of anti-money laundering and combatting of terrorist financing (AML/CTF). Morocco has emerged as a staunch opponent of terrorism and terrorist financing while garnering joint-investigative operations with European countries against transnational organised crime and money laundering.

The paper is divided into two primary series. The first is a view of Morocco’s economy, with a qualitative analysis of significant economic, political and social structural reforms. Second, a qualitative and quantitative analysis of Morocco’s AML and combating of terrorist financing infrastructure is assessed. The qualitative analysis is conducted in two parts; first, by studying the country’s AML/CTF legislation and regulation, and second, by examining the independent international evaluation of the legal structure and its implementation by authorities. The quantitative analysis is conducted by investigating the available statistics relating to money laundering and terrorist financing.

The paper finds Morocco to have accomplished essential economic reforms, especially considering greater institutional management and autonomy. Other structural reforms include the reformation of the constitution, a more comfortable business climate, social development projects focusing on enhancing skill labour and connectivity and the development of strong trade capacity. The primary objective discovery concerns the country’s AML/CTF structure, which is found to comply with international standards. Also, efforts enhancing the country’s regulatory environment with low corruption, low risk of money laundering and low risk of terrorist financing have been taken in a series of legislative amendments and programs. The banking sector and Morocco’s Customs agency have reflected the best improvement as per the study in this paper.

Morocco is witnessing high levels of investment, with year-on-year growth in most existing industrial sectors. The market is also providing for new skilled labour and better trade incentives with the European Union. It is essential for investors, observers and policymakers to understand the market economy reforms and systematic deficiencies in a developing economy. Morocco presents observers with information about policies pre-reform, providing a guide for economic and AML/CTF policy implementation elsewhere.

The paper concerns itself with two levels of analysis concerning Morocco. The first, broad study, is a review of market economy reforms, which are mostly structural and have assisted in the expansion of the economy greatly. The second objective is specific to examining the country’s AML/CTF structure, which has undergone significant development in legislation, regulation and implementation in the past decade. The paper makes a specific attempt to discuss associate indicators to the AML/CTF network as a part of this study.