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Open Access
Article
Publication date: 7 December 2023

Can Liu

The socialist political economy with Chinese characteristics is a systematic economic discipline, which theoretically summarises the socialist economic system and the path of…

Abstract

Purpose

The socialist political economy with Chinese characteristics is a systematic economic discipline, which theoretically summarises the socialist economic system and the path of economic development with Chinese characteristics. It is a systematic economic theory of adapting Marxism to the Chinese context. The theoretical system construction for the discipline of socialist political economy with Chinese characteristics is currently a major task.

Design/methodology/approach

From the perspective of disciplinary cognition, the theoretical system of the discipline of socialist political economy with Chinese characteristics includes the disciplinary attributes and connotations, theoretical basis, the origin of thoughts, major principles, logical starting point, main logic and problem-based study of major theoretical and practical issues.

Findings

Developing the discipline and building the theoretical system of the socialist political economy with Chinese characteristics, several major principles should be adhered to, including building the socialist political economy with Chinese characteristics on the basis of historical materialism; building the theoretical paradigm of socialist political economy with Chinese characteristics around the analysis of production relations; adhering to the people-centred principle; taking common prosperity as the main logic of the socialist political economy with Chinese characteristics; studying the major theoretical and practical issues of building the socialism with Chinese characteristics in the new era based on problems; and reflecting the innovative development of the discipline in the textbook, The Socialist Political Economy with Chinese Characteristics.

Originality/value

Disciplinary cognition involves the connotations, attributes, mission and development path of the discipline, which is related to how to construct the discipline system and is a significant part of the disciplinary construction.

Details

China Political Economy, vol. 6 no. 2
Type: Research Article
ISSN: 2516-1652

Keywords

Article
Publication date: 27 March 2023

Murtaza Masud Niazi, Zaleha Othman and Sitraselvi Chandren

Firm performance has become a thriving research field. However, a review of previous studies shows that the answers to several fundamental questions remain vague and require…

Abstract

Purpose

Firm performance has become a thriving research field. However, a review of previous studies shows that the answers to several fundamental questions remain vague and require further investigation. Thus, the purpose of this study is twofold. The first is to determine the extent of the involvement of political connections (PCs) in Pakistani-listed companies, and the second is to examine the association between PCs and firm financial performance with director efficacy’s moderating role.

Design/methodology/approach

A data set of 221 non-financial companies listed on the Pakistan Stock Exchange for 10 years (2008–2017) was analysed using panel-corrected standard error regression. Additionally, the authors address endogeneity issue by using Hackman two-stage estimation and lagged variables regression.

Findings

The study found that PCs negatively affected the firm’s financial performance, and director efficacy as a moderator strengthened this relationship. The result is consistent with the political economy theory that argues that an unstable political system and a weak judicial system will strongly affect investors and their rights.

Practical implications

The impact of political influence on the corporate sector remains a concern for policymakers, regulators, investors, financial experts, auditors and academic researchers. This study’s findings are that an effective board of directors can strengthen the company’s best practices by controlling political connectedness to protect all the interested parties, particularly investors, and restore their confidence. Therefore, the results of this study can assist all stakeholders when a PCs exists to make the right decisions.

Originality/value

The study extends the literature in terms of theoretical contribution that uses an integrative approach to combine political economy theory, agency theory and resource dependence theory to address the moderating role of director efficacy with an association between PCs and firm financial performance. To the best of the authors’ knowledge, no extant research has investigated the association between PCs and firm financial performance using five aspects of PCs, along with moderator director efficacy.

Details

Corporate Governance: The International Journal of Business in Society, vol. 23 no. 5
Type: Research Article
ISSN: 1472-0701

Keywords

Article
Publication date: 14 September 2023

Mohamad Handi Khalifah, Fatih Savaşan, Naimat U. Khan and Shabeer Khan

This paper aims to trace the contours of Islamic political economy (IPE) for last four decades with the help of bibliometric analysis. This method does not focus on in-depth…

Abstract

Purpose

This paper aims to trace the contours of Islamic political economy (IPE) for last four decades with the help of bibliometric analysis. This method does not focus on in-depth literature. However, it reviews more material content of the published papers in the field, generally including the number of publications, authors, title, H-Index and authors’ affiliation.

Design/methodology/approach

The authors use biblioshiny by R in conducting bibliometric analysis. Based on the results of analysis, the authors only found 39 relevant documents to the topic with the help of keyword of “Islamic political economy”. The authors analyse the data and visualize it into bibliometric images for the convenience of the readers.

Findings

There are 39 documents on IPE in the annual scientific production. The year 1980 had the lowest productivity at 3% while the year 2007 showed an increase in scientific productivity by 13%. The most significant increase in production occurred between 2014 and 2015 by 8%, while the most significant decline occurred between 2007 and 2008 by 10%. The most significant contributors are Akan, T., Choudhury, M.A. and Asutay, M. According to the Corresponding Author’s Country, the UK has eight articles on IPE. Humanomics is the most influential Journal, with six documents.

Research limitations/implications

This research only examines documents sourced from Web of Science and Scopus under the title “Islamic political economy” and does not include articles from other sources. This research has implications for future researchers and suggests a shift in recent research on IPE towards exploring current realities and expanding beyond traditional economic and political aspects. The goal is to gain a comprehensive understanding of Islam’s role in shaping economic and political systems, promoting inclusive sustainable development and social justice, and exploring its relationship with broader political and economic systems.

Originality/value

IPE has become a trendy topic in the early days, the second half of the 20th century, during the revival of the Islamic mode of finance and development. However, with time, the discussion on this topic appeared less in scientific and academic publications; this issue needs an overview of how far this discipline has evolved. This work aims to identify future research trends in this area. Scholars should investigate articles by author, institution, country, databases, data sources with high-impact factors and objective metrics to get new perspectives.

Details

Qualitative Research in Financial Markets, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1755-4179

Keywords

Article
Publication date: 18 July 2022

Ying Teng, Eli Gimmon, Sibylle Heilbrunn and Shenyi Song

This study explored the mediating effect of political embeddedness on the relationship between gender and performance of private enterprises in the emerging economy of China…

Abstract

Purpose

This study explored the mediating effect of political embeddedness on the relationship between gender and performance of private enterprises in the emerging economy of China. Political embeddedness is examined in terms of personal characteristics of owners and their firm.

Design/methodology/approach

Secondary data were collected from the Chinese Private Enterprises Survey for the years 2002, 2006, 2014 and 2016 using responses to identical questions. Tobit models were implemented to examine hypotheses related to the gender gap. A bootstrapping approach was applied to examine hypotheses related to mediation through political embeddedness.

Findings

The gender effect on enterprise performance was found to be partially mediated by political embeddedness at the personal level and even more strongly by political embeddedness at the firm level, which is beyond the well-known mediation effect of bank loans.

Research limitations/implications

The Chinese sample, in which guanxi plays a significant role with respect to women-led firms, may limit the generalizability of the findings to other emerging economies.

Practical implications

Given the mediating effects on firm performance of political embeddedness at the personal and firm levels, women business owners in China should pursue political involvement, possibly with the support of policymakers and mentors.

Originality/value

The relationship between businesswomen and political embeddedness is underexplored. This study innovates by applying the gender lens to the notion of political embeddedness and extending the construct of personal political embeddedness to the firm level.

Details

International Journal of Emerging Markets, vol. 19 no. 1
Type: Research Article
ISSN: 1746-8809

Keywords

Book part
Publication date: 22 August 2023

Ray Griffin

This chapter explores the question – where is the economy? In taking up this question, I explore the action of economists in making the economy, framed in the place of ‘place’ in…

Abstract

This chapter explores the question – where is the economy? In taking up this question, I explore the action of economists in making the economy, framed in the place of ‘place’ in the economy and how the politics of economic data and calculation and boundaries make economies. In this way, I argue for a performative understanding of regional economics where the economy can be said to be made, often out of real things such as hospitals, factories, shops and schools, and infrastructure, but also out of social practices that echo out of the field of economics into institutions and ways of thinking calculatedly.

To make this case of this approach, and to grasp the slippery fish of where the economy is, I introduce autoethnographic materials from my experience of being a regional economic commentator, holding forth on the Waterford economy. These empirics relay the everyday methods of economic analysis as a material and political practice, alighting on the data, calculations and boundaries that go into making the economy. Here the curious relationship between the economist and their economy, the dancer and the dance come into view and how people, including myself, call an economy into being.

Details

Urban Planning for the City of the Future
Type: Book
ISBN: 978-1-80455-216-2

Keywords

Article
Publication date: 8 May 2023

Temitope Abraham Ajayi

This study aims to investigate the implications of natural gas rents and institutions as co-drivers of economic growth, focusing on the Gas Exporting Countries Forum (GECF) with…

Abstract

Purpose

This study aims to investigate the implications of natural gas rents and institutions as co-drivers of economic growth, focusing on the Gas Exporting Countries Forum (GECF) with panel data between 2001 and 2021.

Design/methodology/approach

This research paper uses a specialised two stage estimator, the panel instrumental variable technique (panel IV), which takes care of the potential endogeneity issues in the model.

Findings

The findings show that natural gas rent significantly impacts the economic growth of the GECF. On average, natural gas rent increases the sample’s growth rate by about 2.634% percentage points in the short run. The result indicates that the qualities of institutions (political and economic) have a significant positive long-term effect on the economies of the GECF. In addition, the study’s energy price volatility positively correlates with the countries’ growth.

Research limitations/implications

There might be a need to investigate the effects of natural gas rents and institutions as co-growth drivers in each country within the GECF. The likelihood exists that the impact of natural gas rents and institutions on economic growth at the country’s level may differ from the outcome of such an experiment on the group level. Because of space and time limitations, this study could not carry out the specific country’s investigation of natural gas rents and institutions as a co-growth driver. That limitation may constitute further study to advance this study to a new height.

Practical implications

With good institutions, natural gas rent is likely to be an alternative growth driver for some economies that rely on fossil fuels like oil as a growth driver. By extension, the GECF has the potential to rival Organisation of Petroleum Exporting Countries (OPEC) in the global energy market, particularly in achieving Sustainable Development Goal number seven. In essence, evidence in this study suggests that natural gas rent has long-term positive effects on the growth of the GECF, conditioned on good institutions. Moreover, the drive of global energy consumption towards sustainable energy usage is an economic blessing for the GECF. By extension, the demand for natural gas would continue to rise, creating opportunities to improve natural gas rents. By implication, the GECF would continue to benefit from the pursuit of sustainability as the world shifts towards energy consumption with less CO2.

Originality/value

Firstly, this study models the qualities of institutions for the GECF. Secondly, to the best of the author’s knowledge, this study is the first attempt to examine natural gas rents and the qualities of institutions as co-determinants of economic growth among the GECF (a potential cartel).

Details

International Journal of Energy Sector Management, vol. 18 no. 3
Type: Research Article
ISSN: 1750-6220

Keywords

Content available
Book part
Publication date: 18 September 2023

Mohamed Ismail Sabry

Abstract

Details

The Growth Paths of State-Society Relations
Type: Book
ISBN: 978-1-80262-246-1

Article
Publication date: 14 December 2023

Metehan Feridun Sorkun and Şükrü Özen

This study investigates how perceived political corruption, a generally overlooked corruption type, relates to firms' new product development (NPD) through perceived regulatory…

Abstract

Purpose

This study investigates how perceived political corruption, a generally overlooked corruption type, relates to firms' new product development (NPD) through perceived regulatory obstacles. It also examines firms' perceptions of business association support in this relationship, considering these associations' potential support for NPD.

Design/methodology/approach

This study conducted an empirical analysis of 1,663 firms in Turkey, a country noted for a history of legislative corruption, and in which there are strong business associations. Drawing the data from the World Bank's 2019 Enterprise Surveys Dataset, this study tested the hypotheses via the two-stage factor score regression method.

Findings

This study finds that perceived political corruption significantly relates to NPD negatively through perceived regulatory obstacles. It also finds that the perceived support of business associations to NPD is significantly greater when firms perceive regulatory obstacles but only slight political corruption.

Originality/value

As far as political corruption is concerned, this study reveals that corruption can also be the cause of regulatory obstacles, expanding the common view of corruption as a means of overcoming regulatory obstacles to NPD. In addition, it introduces the role of business associations in this relationship by revealing their support to NPD for different levels of perceived political corruption and regulatory obstacles.

Details

European Journal of Innovation Management, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1460-1060

Keywords

Open Access
Article
Publication date: 27 June 2023

Nicholas Addai Boamah, Francis Ofori-Yeboah and Kingsley Opoku Appiah

The study investigates the effect of political instability and employee tenure security on the performance of firms in middle-income economies (MIEs) after controlling for the…

Abstract

Purpose

The study investigates the effect of political instability and employee tenure security on the performance of firms in middle-income economies (MIEs) after controlling for the influence of corruption, international quality certification, external auditor services and firm age. It examines whether ownership and sector effects matter in the explored relationships.

Design/methodology/approach

The study adopts the generalized method of moments estimator and collects firm-level cross-sectional data from 77 MIEs.

Findings

The evidence shows that political uncertainty, employee tenure security and firm age negatively impact firm performance. Also, external quality assurance mainly improves firm performance. Additionally, foreign-owned firms benefit from corruption more than their domestic counterparts. Moreover, there are ownership and sector effects in the firm performance drivers.

Practical implications

The findings suggest the need for MIE firm managers to implement policies and programs to improve permanent employees' efficiency, commitment and honesty. Policy makers and political actors must work toward a stable political environment in MIEs. The policy must also focus on at least minimizing corruption.

Originality/value

The study shows the contributions of employee tenure security, political instability and corruption to the performance of MIE firms. It documents sector and ownership effects in the factors influencing firm performance.

Details

Journal of Economics and Development, vol. 25 no. 3
Type: Research Article
ISSN: 1859-0020

Keywords

Article
Publication date: 13 February 2023

Fawad Ahmad, Michael Eric Bradbury and Ahsan Habib

This paper examines the influence of different types of political connections and political uncertainty on earnings credibility in Pakistan. Based on discernible differences…

Abstract

Purpose

This paper examines the influence of different types of political connections and political uncertainty on earnings credibility in Pakistan. Based on discernible differences, connected firms are grouped into civil connected and military connected firms.

Design/methodology/approach

The authors provide evidence concerning the earnings credibility incentives of groups of political connected firms and report that their incentives are significantly different. The findings remain robust to alternate methods of earnings credibility.

Findings

The findings evidence that civil (military) connected firms report less (more) credible earnings than the control group. High political uncertainty reduces the credibility of earnings. Results for the interaction of political connections and political uncertainty variables are not significant.

Research limitations/implications

The paper investigates just one aspect of Pakistan's political economy, i.e. credibility of earnings; thus, it requires to be cautious on part of readers and policymakers. To reach a clearer conclusion, earnings credibility should be ex amined in the larger context, i.e. in conjunction with rent extractions, etc. A possible extension of the paper can be to investigate the channels of rent extractions used by the two types of connected firms.

Practical implications

The paper has contribution for policymakers as well as users of general purpose financial reports. The findings indicate that the users of general purpose financial reports should be more careful in the use of financial information during political uncertain periods and also of politically connected firms. Furthermore, policymakers should keep the larger context at the forefront while attempting to strengthen the enforcemnet regime.

Originality/value

This paper adds to extant political connections literature by identifying two types of politically connected firms and report that both groups have divergent financial reporting incentives. Furthermore, political uncertainty reduces the credibility of earnings.

Details

Journal of Applied Accounting Research, vol. 24 no. 5
Type: Research Article
ISSN: 0967-5426

Keywords

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