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21 – 30 of 41Martin Gargiulo and Gokhan Ertug
Weak organizational actors can overcome the consequences of their dependence by securing the control of valuable resources or by embedding dependence relationships into social…
Abstract
Weak organizational actors can overcome the consequences of their dependence by securing the control of valuable resources or by embedding dependence relationships into social networks. While these strategies may not eliminate the underlying dependence, they can curtail the ability or the willingness of the stronger party to use power. Embedding strategies, however, can also have unintended consequences. Because the network structures that confer power to the weak are inherently more stable, they can persist beyond the point of being beneficial, trapping weak actors into unsuitable network structures. The power of the weak can thus become the weakness of the strong.
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The purpose of this paper is to obtain a comprehensive structure of past empirical studies on financial contagion which can provide the present growth and future scope of research…
Abstract
Purpose
The purpose of this paper is to obtain a comprehensive structure of past empirical studies on financial contagion which can provide the present growth and future scope of research work on the field of contagion analysis.
Design/methodology/approach
Present study identifies 151 empirical studies on financial contagion and summarises all the studies on the basis of tools and methodology used, year of the studies, origin of the studies, sample period and sample countries taken, studies undertaken on the basis of different crisis period and markets considered and finally sources of the studies.
Findings
The results of the analysis show that the empirical studies on contagion increased continuously over the past five years. Higher order test of contagion with more number of sample countries may provide more accurate picture on financial contagion.
Originality/value
This paper collects, classifies and summarises past empirical studies on financial contagion and provides valuable conclusion on present growth and future scope of studies on financial contagion. The information given in this paper can be helpful for future researchers and academicians on this particular field; the summary of the conclusion (from past reviews) may be helpful for the policy makers for asset allocation and risk management.
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Marc Pilkington and Christine Sinapi
The purpose of this article is to highlight the need for renewed collaborative efforts between linguists and economists to develop a multidisciplinary approach to discourse…
Abstract
Purpose
The purpose of this article is to highlight the need for renewed collaborative efforts between linguists and economists to develop a multidisciplinary approach to discourse studies to single out, in the case at hand, how financial media discourse might reflect either a prevailing mainstream or a Minskian conceptual apparatus in financial crisis related papers.
Design/methodology/approach
The paper conducts exploratory research by focusing on semantic analysis, so as to indicate how the latter might possibly indicate a shift in the prevailing framework in contemporary financial media discourse. After a clear exposition of a theoretical dichotomy between the Minskian and mainstream approaches, it relies on Tropes software to conduct applied discourse analysis and discover evidence for the aforementioned shift. It exploits a set of three crisis-related articles from the Financial Times written by Martin Wolf. The selected corpora consist of opinion articles, a genre believed to be both emblematic of financial media discourse and subject to the influence of underlying theoretical frameworks.
Findings
The paper has identified a convincing Minskian vs mainstream dichotomy that may be substantiated by a set of disciplinary criteria. It argues that these criteria can be further used in applied discourse analysis. It demonstrates the relevance of our methodology from the exploratory test conducted. Eventually, these exploratory results, although they remain embryonic, suggest that a shift in the conceptual frameworks underlying the media discourses has taken place, from the Mainstream in fair weather conditions to (possibly) a more Minskian framework in times of crisis and financial instability.
Research limitations/implications
The sample size is extremely restricted (albeit acceptable in an exploratory research context); these limitations are inherent in exploratory research and do not preclude the validity of the broader interdisciplinary research agenda. In our proposed theoretical dichotomy, the mainstream approach is subject to caution insofar as no single and consensual definition of the latter exists to date in the literature.
Social implications
This article has highlighted the need for further multidisciplinary collaborative research endeavors (in particular, linguistics and economics). It has also touched the issue of crisis prevention and early warning systems, which may include financial press monitoring.
Originality/value
There exists a powerful media sphere within which financial discourse may exert an influence on decision-makers through the influence of underlying theoretical frameworks, eventually shaping real economic outcomes. The research program initiated, by combining the insights of economics and linguistics; therefore, aims to uncover the modus operandi of financial media discourse.
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Ebere Ume Kalu, Augustine Chuck Arize, Sylvester Okechukwu Ilo, Ifeoma Ihegboro and Chiamaka Goodness Eze
This study investigated the interactive impact of global and domestic stock market variables on the depth of the financial system in Sub-Saharan African (SSA) countries from 1990…
Abstract
Purpose
This study investigated the interactive impact of global and domestic stock market variables on the depth of the financial system in Sub-Saharan African (SSA) countries from 1990 to 2018.
Design/methodology/approach
The study used the mean group and pooled mean group estimators for the dynamic heterogeneous panel.
Findings
The results provide strong statistical evidence that the depth of the financial system in SSA countries is influenced by a combination of local and international stock market indicators. While the local variables exert a positive influence, the global indicator tends to negatively affect the depth of the system, particularly the monetization ratio.
Practical implications
While the tendency of portfolio adjustments and reversal can be inferred, the study stresses the need for a more globalized approach to financial policy formulation and implementation even as the trend of global financializaton gets more robust and more profound.
Originality/value
This study is unique in that, unlike prior ones, it has extended the debate on the role of the stock market in financial deepening from a domestic to an international dimension. Financial policy making can be aided by the authors' findings through looking at the financial deepening-stock market linkage from both domestic and globalized perspectives.
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Games are an effective teaching and classroom training tool, since they allow students to practise real‐life events. In the area of project management, most games focus on the…
Abstract
Purpose
Games are an effective teaching and classroom training tool, since they allow students to practise real‐life events. In the area of project management, most games focus on the planning phase of a project. The current paper aims to describe a new game, called PEG – Project Execution Game. The uniqueness of this game is its focus on real world problems during the project's execution.
Design/methodology/approach
The Project Execution Game provides the “players” with a set of realistic, but unexpected events that occur during a project, in order to enhance their problem‐coping capabilities and decision‐making skills as well as hone their general reactions. The game is designed for either one or several teams competing among themselves. The game's validity was tested on 185 undergraduate students in their advanced project management course. Statistical results about the simulation's contributions are presented in relation to several aspects of project management.
Findings
The conclusion from the study is that a game is an effective tool for teaching the unstructured area of project execution, and gives the student a taste of real‐life experience.
Practical implications
The Project Execution Game can be implemented with students in project management training sessions. With this game, the students gain more practical relevant experience, as compared to alternative teaching techniques. Furthermore, the game can be used in organizational training to improve project managers' techniques and experience in reacting to unexpected events. Finally, it can also be used with project managers practising before the actual execution of a big project.
Originality/value
This paper suggests effective and interesting ways of teaching project management in order to better train project managers. By simulating realistic competitive conditions, the concepts learned and solutions generated in the classroom can be transferred to the outside business environment.
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The purpose of this study is to address the question that economic standards, norms and regulations can possess weak spots that might be exploitable for the embezzlement of an…
Abstract
Purpose
The purpose of this study is to address the question that economic standards, norms and regulations can possess weak spots that might be exploitable for the embezzlement of an organization’s assets with resultant material consequences in money laundering,tax evasion, fraud, corruption and other potential financial crimes.
Design/methodology/approach
The author’s methodological approach is to introduce and discuss a new logical-deductive test that the author names “embezzler test”. The author’s test investigates regulatory architectures from the perspective of someone attempting to divert assets from or to an organization. It appraises whether a potential embezzler could divert resources without being detected and sanctioned.
Findings
The embezzler test can be applied to a broad range of standards, norms and regulations.
Research limitations/implications
This new test can be improved and further calibrated in future research.
Practical implications
Researchers, regulators and law makers can use the new test to identify and eventually fix weak spots for embezzlement in norms, standards and regulations.
Originality/value
To the best of the author’s knowledge, such a test has never been formulated or applied before to identify weak spots for potential embezzlement in regulatory architectures.
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