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This paper investigates the issue of whether financial market liberalization announcements in emerging economies have had any effects on the efficient operation of their equity markets. The issue is empirically examined in the case of Greece, and its emerging stock market, the Athens Stock Exchange (ASE). The sequence of tests conducted, ranging from tests of structural change to several efficiency tests, suggest that the Greek equity market was weak‐form efficient before these announcements were made. Hence, the ASE was operating as a random walk hinting that investors could not engage in systematically profitable ventures because future long‐term returns were independent of past returns. In other words, foreign and local investors guided their strategies based on the fundamentals and not on speculative grounds.

Bayesian cubature (BC) has emerged to be one of most competitive approach for estimating the multi-dimensional integral especially when the integrand is expensive to evaluate, and alternative acquisition functions, such as the Posterior Variance Contribution (PVC) function, have been developed for adaptive experiment design of the integration points. However, those sequential design strategies also prevent BC from being implemented in a parallel scheme. Therefore, this paper aims at developing a parallelized adaptive BC method to further improve the computational efficiency.

By theoretically examining the multimodal behavior of the PVC function, it is concluded that the multiple local maxima all have important contribution to the integration accuracy as can be selected as design points, providing a practical way for parallelization of the adaptive BC. Inspired by the above finding, four multimodal optimization algorithms, including one newly developed in this work, are then introduced for finding multiple local maxima of the PVC function in one run, and further for parallel implementation of the adaptive BC.

The superiority of the parallel schemes and the performance of the four multimodal optimization algorithms are then demonstrated and compared with the k-means clustering method by using two numerical benchmarks and two engineering examples.

Multimodal behavior of acquisition function for BC is comprehensively investigated. All the local maxima of the acquisition function contribute to adaptive BC accuracy. Parallelization of adaptive BC is realized with four multimodal optimization methods.

This paper aims to identify the data elements that social network sites (SNS) users consider important for shaping their digital identity and explore how users’ privacy concerns, self-esteem and the chosen SNS shape this process.

This study conducted an online survey with the participation of 759 individuals, to examine the influence of privacy concerns, self-esteem and the chosen SNS platform, on the shaping of the digital identity, through a classification of identity elements that users disclose when using a SNS, the Rosenberg self-esteem scale and relevant constructs from the literature.

Findings reveal that users consider the name, gender, picture, interests and job as most important elements for shaping their digital identity. They also demonstrate that privacy concerns do not seem to affect the amount of information users choose to publish when shaping their digital identity. Specific characteristics of SNS platforms are found to affect the way that users shape their digital identity and their privacy behavior. Finally, self-esteem was found to affect privacy concerns and digital identity formation.

To avoid a lengthy questionnaire and the risk of low participation, the respondents answered the questions for one SNS of their choice instead of answering the full questionnaire for each SNS that they use. The survey included the most popular SNSs at the time of the survey in terms of popularity.

The results contribute to the theory by furthering our knowledge on the elements that shape digital identity and by providing evidence with regard to the role of privacy and self-esteem within social networking. In practice, they can be useful for SNS providers, as well as for entities that design security and privacy awareness campaigns.

This paper identifies novel factors that influence digital identity formation, including the specific SNS used with its particular characteristics in combination with privacy concerns and self-esteem of the user.

This study aims to advance an international political economy (IPE) perspective that geo-political events can have long-lasting imprint effects on countries and their firms. The study also aims to explore the idea that shared political history and geography combine to create specific structural conditions that shape the international competitiveness of all firms in a region. In particular, the authors consider whether the Monroe Doctrine of 1823, which asserted American influence in the Western Hemisphere, contributed to the creation of institutional structures across Latin America (LA) affecting the strategies of all firms to this day. The authors also illustrate the IPE perspective using the example of the contemporary international competitiveness of LA business groups.

The authors illustrate the IPE perspective using the example of the contemporary international competitiveness of LA business groups. The exploratory framework of this study leads to a proposition about the export performance of Latin American business group affiliates. The authors use firm-level performance data for 32,000 firms across emerging economies to explore the proposition empirically while controlling for alternative explanations. To do this, the authors draw on the World Bank Economic Surveys.

The authors derive a proposition that argues the Monroe Doctrine has had a long-run imprint effect on economic policymaking in LA, resulting in a common, persistent and negative impact on the international competitiveness of firms. The authors find strong and consistent evidence that in terms of export performance, all Latin American firms export less and group affiliates do not outperform independent firms, This finding contrasts with the results for all the other emerging market regions around the world.

The main contribution of this study has been to suggest the potential importance of shared regional geopolitical history and geography in explaining firm-level outcomes. However, this study is preliminary and introductory, although the authors seek to control for alternative country-specific explanations of the results. The analysis considers the effects of one particular IPE phenomenon, the Monroe Doctrine, in one particular location: LA. Future work should seek to contrast LA with other geopolitical security and alternative IPE structures. They might also address the time dimension from a historical perspective: is imprinting in LA driven by the length of the Monroe Doctrine arrangements?

The most important managerial learning point concerns the relevance of geography and political economy factors for multinational enterprises strategy formation. There is widespread understanding that context is an important determinant of subsidiaries’ performance, and that strategies need to be constructed to take account of country-specific characteristics, most importantly, in emerging economies and institutional arrangements. This paper proposes that managers also need to take account of IPE structures, including security arrangements, and to consider the resulting regional as well as national context.

The analysis suggests that not only the performance of firms, including emblematic firms, but also the socially beneficial spillovers that might be generated from them, are contingent on the regional as well as national characteristics. Thus, business groups in most emerging economies are found to yield better performance and to provide higher levels of social impact, including concerning ESG goals. However, the findings of this study suggest that the former is not true for LA, which, the authors argue, is a consequence of imprinting as a result of the Monroe Doctrine. Further work is needed to establish whether the latter effect is also not true, but if that is the case, then regionally specific policies may be required to address the resulting corporate social shortfalls.

The core idea is that geo-political events can have long-lasting imprint effects on countries and their firms: that shared political history and geography create specific structural conditions that shape the international competitiveness of all firms in a region. The authors explore this concept with reference to the Monroe Doctrine, asking whether its assertion of US influence across the Americas contributed to the creation of institutional structures across LA affecting the strategies of all firms to this day.

DURING much of the Second World War, the affairs of the Library Association were conducted for the Council by an Emergency Committee. The record of its meeting on 10th June 1941, includes the following: “A resolution having been received suggesting that a committee be formed to consider post‐war reconstruction, it was resolved that by means of a notice in the LIBRARY ASSOCIATION RECORD, Branches and Sections should be invited to formulate suggestions for the consideration of the committee. A draft questionnaire for the purpose of an enquiry into the effects of the war on the public library service was approved”. In July, the Committee reported “further arrangements … for carrying out an exhaustive survey designed to give the necessary data for full and detailed consideration and ultimate recommendation as to the future of public libraries, their administration and their place in the social services”. The promised notice appeared as an editorial in September.

Entrepreneurship ecosystems could be useful road maps for the formulation of entrepreneurship policies for countries in Africa. The twenty-first century economic development agenda lay a lot of emphasis on the pivotal role that entrepreneurship plays in the growth of economies, job creation and poverty alleviation especially in Africa. But without the right entrepreneurial ecosystems to enhance the formulation of pertinent entrepreneurship policies, achieving entrepreneurial economic growth will be difficult. The existing frameworks for the development of entrepreneurship ecosystems are based on research that has been conducted elsewhere. The paper aims to discuss these issues.

Entrepreneurship research in Africa has rarely focused in understanding and evaluating the entrepreneurship ecosystems. In this paper, we have attempted to examine the present state of the entrepreneurship ecosystems in four countries (Botswana, Egypt, Ghana and Uganda) in Africa. Despite the fact that extant literature on the concept is limited, it has been reviewed to provide a picture of entrepreneurship ecosystems. Relevant national and international documents were also examined to evaluate the present state of entrepreneurship ecosystems in these countries.

The findings from each of the countries though they depict a static situation, justify the proposition that entrepreneurs are omnipresent, it is only the entrepreneurship environment that accounts for the differences in entrepreneurial economic growth and the cross-countries comparisons shows the dissimilarities in national entrepreneurship environments.

In conclusion, a broad process to develop entrepreneurship ecosystems initiatives is suggested alongside the crucial roles that governments and other stakeholders should play which implies that a National Entrepreneurship Mission might be necessary.

Multiple case studies that have compared entrepreneurship ecosystems of countries in Africa are very rare. This study though explorative, is one of the first. The findings and conclusions could be useful for a detailed study to map out pertinent and self sustaining entrepreneurship ecosystems that are necessary for the formulation of entrepreneurship policies.

The fact that stocks going ex‐dividend decline in price by less than the dividend amount is theoretically attributed to the differential taxation of dividend and capital gains or the differential taxation of investor groups. NYSE, Amex and Toronto Stock Exchange listed stocks, and stocks interlisted on these three exchanges, are examined to infer the tax jurisdiction of the marginal investor. The stock price changes relative to the dividends are consistent with a tax clientele effect. Further, the stock price changes are plausible given the tax rates. Ex‐dividend day behavior is different for non‐interlisted stocks on all three exchanges, suggesting each exchange has a different tax clientele. Canadian firms interlisted on US exchanges exhibit ex‐dividend day behavior consistent with the appropriate US exchange’s non‐interlisted stocks, suggesting that the marginal investors in these stocks are American.

The pandemic has reinforced the need for revamping the healthcare service delivery systems around the world to meet the increased challenges of modern-day illnesses. The use of medical cyber–physical system (MCPS) in the healthcare is one of the means of transforming the landscape of the traditional healthcare service delivery system. The purpose of this study is to critically examine the impact of MCPS on the quality of healthcare service delivery.

This paper uses an evidence-based approach, the authors have conducted a systematic literature review to study the impact of MCPS on healthcare service delivery. Fifty-four articles were thematically examined to study the impact of MCPS on eight characteristics of the healthcare service delivery proposed by the world health organisation.

The study proposes support that MCPS will positively impact (1) comprehensiveness, (2) accessibility, (3) coverage, (4) continuity, (5) quality, (6) person-centredness, (7) coordination, (8) accountability and (9) efficiency dimension of the healthcare service delivery. The study further draws nine propositions to support the impact of MCPS on the healthcare service delivery.

This study can be used by stakeholders as a guide point while using MCPS in healthcare service delivery systems. Besides, healthcare managers can use this study to understand the performance of their healthcare system. This study can further be used for designing effective strategies for deploying MCPS to be effective and efficient in each of the dimensions of healthcare service delivery.

The previous studies have focussed on technology aspects of MCPS and none of them critically analysed the impact on healthcare service delivery. This is the first literature review carried out to understand the impact of MCPS on the nine dimensions of healthcare service delivery proposed by WHO. This study provides improved thematic awareness of the resulting body of knowledge, allowing the field of MCPS and healthcare service delivery to progress in a more informed and multidisciplinary manner.

The objective of this paper is to study the interactions between economic liberalisation, political liberalisation, and financial development in African countries. More specifically, the paper seeks to establish the impact of economic, political, and institutional openness on financial deepening.

In the empirical part, the paper proposes a two‐step procedure which involves the treatment effect and the new panel studies technique of recently updated data for economic and political reform.

The results show to what extent political liberalisation, economic liberalisation, and the stability of the political system have a statistically significant effect on the financial development of the continent, showing that reform, stability, and democratic rule seem to be favourable for development of the financial sector in the continent.

There are few studies that directly explore the link between political and economic liberalisation on financial development. The difference between this paper and other studies is that first, it is restricted to African countries, those that have been mostly undergoing the two types of reform (political and economics). The second reason is that most of the previous papers always took into consideration the effects of financial development on one of the reforms either political or economic, meanwhile in this paper, the author considers the various aspects of reform: political, economical, and the stability of the environment.