Search results

The purpose of this paper is to examine and explain the complex interrelationships which influence the performance of politically connected firms to create value for their providers of finance and other stakeholders. In doing so, it examines the interrelationships between efficiency and delivering on corporate performance of a firm with political ties.

The authors gathered the literature from the Scopus website. They reviewed the literature of 58 manuscripts about the efficiency and performance of politically connected firms.

The research finds that the better quality of efficiency of politically connected firms is positively related to the corporate performance of politically connected firms. The authors’ theoretical findings corroborate the political theory, agency theory, stakeholder theory, resource dependency theory and stewardship theory. These theories prove that political connections have an impact on firm performance as a politician reinforces the efficacy. To better understand the effect of political connections on solid performance due to efficiency, this study classifies various efficiencies and links them with political ties.

Several avenues of research are suggested to examine further the interrelationships identified.

The authors’ conceptual findings are valuable for institutional investors, policymakers and stakeholders. To sum up, all theoretical shreds of evidence prove that politically connected firms can enhance performance via efficiency.

The paper conceptualizes the efficiency and performance interrelationships of politically connected firms. The extant literature comparison allows an assessment of the extent to which different efficiency contexts lead to differences in performance.

This study aims to analyse the political connections of Portuguese companies through the members of the board of directors, exploring how these connections influence, in particular, the composition and characteristics of the boards.

The research used a strategy based on analysing the financial statements and curriculum vitae of the directors of Portuguese companies listed on Euronext Lisbon from 2014 to 2019. The political connections of board members were examined, considering the variables identified in the existing literature.

The results indicate that companies with political connections maintain these relationships for long periods and have a greater number of members on the board of directors compared to companies without such connections. Directors with political experience tend to occupy non-executive positions, suggesting that companies may value political contacts more than the management skills of these directors. It was also found that there are politically connected directors who belong to multiple boards and that women appointed to the board are less likely to have a political background, reflecting male dominance in Portuguese politics.

The main limitations of this study include the small number of listed companies in the sample, which may affect the statistical robustness of the results, as well as the use of secondary sources, which may not capture all relevant policy linkages. In addition, the results are specific to the Portuguese context and may not be generalisable to other countries or other regions of the world.

This study contributes to the understanding of political connections in Portuguese companies, offering valuable insights into how these connections influence board composition and can impact corporate strategy and governance. The findings of this study can be especially useful for business leaders looking to optimise the formation of their boards of directors.

Over 60% of armed conflicts re-occur; the seed of future conflict is sown even as a peace agreement is signed. The cyclical nature of war calls for a focus on youth who can disrupt this pattern over time. Addressing this concern, the developmental peace-building model calls for a dynamic, multi-level and longitudinal approach. Using an innovative statistical approach, this study aims to investigate the associations among four youth peace-building dimensions and quality peace.

Multi-level time-series network analysis of a data set containing 193 countries and spanning the years between 2011 and 2020 was performed. This statistical approach allows for complex modelling that can reveal new patterns of how different youth peace-building dimensions (i.e. education, engagement, information, inclusion), identified through rapid evidence assessment, promote quality peace over time. Such a methodology not only assesses between-country differences but also within-country change.

While the within-country contemporaneous network shows positive links for education, the temporal network shows significant lagged effects for all four dimensions on quality peace. The between-country network indicates significant direct effects of education and information, on average, and indirect effects of inclusion and engagement, on quality peace.

This approach demonstrates a novel application of multi-level time-series network analysis to explore the dynamic development of quality peace, capturing both stability and change. The analysis illustrates how youth peace-building dimensions impact quality peace in the macro-system globally. This investigation of quality peace thus illustrates that the science of peace does not necessitate violent conflict.

This paper details how we adapted a critically informed third-year career management and development course to address an identified gap in our Human Resource Management students learning at both practical and theoretical levels. In order to address this gap, we explored and challenged the aims of our critically informed pedagogy, and alongside our campus career development services, collaboratively redesigned the course to enhance theoretical and practical learning outcomes of students.

We detail changes made through three stages of curriculum redesign and provide an exploratory analysis of 106 student reflections on the third iterative redesign. This exploratory analysis focuses on student learning outcomes resulting from their engagement with the career practitioner and the revised course content.

Students found the course theoretically challenging and practically relevant and were readily able to incorporate career theory into descriptions of their own careers. However, more significantly, students were also able to situate themselves within a wider critique of the context of careers, demonstrating the development of critical reasoning skills and moving towards practical and critical action, demonstrating praxis.

Our experience provides an example of bridging the seeming paradox of critical pedagogy and practice. Specific details of curriculum design may be of interest to those looking to improve both theoretical and practice engagement.

The purpose of this paper is to discuss the political turbulence of the times and discuss how political movements and political events that appear to be shocking to many are linked with major transformations in the global economy in recent decades. The author shows how the political and economic situation will likely have little impact on tourism inflows in major developed countries in coming years.

The paper explores global changes since the end of the Cold War and how this has impacted upon potential tourists in tourist source markets and host destinations. It is a global analysis, exploring changes since the Cold War.

Western countries will continue to experience all sorts of political and social turbulence for the foreseeable future, as their populations become increasingly bifurcated in terms of their wealth and the fiat currency system and fractional reserve system of banking reaches the limits of what it is capable of. However, this does not necessarily mean that tourists will be deterred from travelling to developed countries, as long as the developed countries shield visitors from social upheaval and politically unpleasant events such as strikes, riots, and demonstrations.

The practical implications are that managers in the tourism industry should become increasingly aware of the widening gap between the rich and poor in developed countries and prepare for the political and social shocks of dealing with this phenomenon. The phenomenon will have political expression in political movements that will pay lip service to populist demands but will also have expression in disappointed populations that will take part in social unrest of all sorts. Managers should prepare for various expressions of unrest in developed countries that had not been so widespread, including strikes, demonstrations, and riots.

This paper discusses the ascendency of Donald Trump to the US Presidency and the increasing visibility of other political nonconformist movements in western countries as a possible threat to tourism in developed countries. It links the changing political and social reality of citizens since the end of the Cold War to the future role that developed countries will play in the tourism industry, largely as hosts to the world’s affluent class created by globalization.

The aim of the paper is to analyse the prevalence of corruption in Malaysia since 2004 in relation to political leadership, implementation of anti-corruption measures and the political and business culture based on money politics.

The paper draws from the information and data provided by the Malaysian Anti-Corruption Commission, the Malaysian government, international organisations, media reports, and academic papers.

The paper analyses the perceived extent of corruption in Malaysia by examining how successive governments have dealt with the problem through a wide range of measures. Corruption remains widespread because of ineffective implementation, a culture of money politics based on mutually beneficial crony associations between political actors and business leaders, political interference to frustrate enforcement against corruption offenders, especially prominent personalities, and the mixed impact of corruption prevention measures. The paper concludes that the political and business culture and the nature of political leadership have eroded the political will to combat grand corruption in Malaysia.

This paper builds on previous research on corruption in Malaysia and highlights the combined negative impact of political leadership and a business and political culture that tolerates and espouses corruption, especially through money politics, and the consequent weak political will for tackling grand corruption.

The purpose of this paper is to quantify to what extent the housing bubble in the early-to-mid 2000s in Spain exacerbated land planning corruption among Spain’s largest municipalities.

The authors exploit plausibly exogenous variation in housing prices induced by changes in local mortgage market conditions; namely, the rapid expansion of savings banks (Cajas de Ahorros). Accounting for electoral competition in the 2003–2007 and 2007–2009 electoral cycles among Spanish municipalities larger than 25,000 inhabitants, the authors estimate a positive relationship between housing prices and land planning corruption in municipalities with variation in savings bank establishments using instrumental variables techniques.

A 1% increase in housing prices leads to a 3.9% points increase in the probability of land planning corruption. Moreover, absolute majority governments (not needing other parties’ support) are more susceptible to the incidence of corruption than non-majority ones. Two policy implications to address corruption emerge: enhance electoral competition and increase scrutiny over land planning decisions in sparsely populated.

First empirical evidence of a formal link between the 2000s housing bubble in Spain and land planning corruption.

This study provides insights into the external powers that can influence business leaders' communication on sustainability. It shows how the socio-political context manifested in national and transnational policies, regulations and other socio-political events can influence the CEO talk about sustainability.

This study adopts an interpretative and qualitative method of analysis using the lenses of the theoretical concepts of framing and legitimacy, analysing CEOs’ letters from 10 multinational industrial companies based in Sweden, over the period of 2008–2019.

The results show that various discourses of sustainability, emerging from policies and regulatory initiatives, socio-political events and civil society activism, are reflected in the ways CEOs frame sustainability over time. This article reveals that CEOs not only lead the discourse of profitable sustainability, but they also slowly adapt their sustainability talk to other discourses led by the policymakers, regulators and civil society. This pattern of a slow adaptation is especially visible in a period characterised by increased discourses of climate urgency and regulations related to social and environmental sustainability.

The theoretical frame is built by integrating the concepts of legitimacy and framing. Appreciating dynamic notions of legitimacy and framing, the study suggests a novel view of reporting as a film series, presenting many frames of sustainability over time. It helps the study to conceptualise CEO framing of sustainability as adaptive framing. This study suggests using a dynamic notion of adaptive framing in future longitudinal studies of corporate- and accounting communication.

The results show that policymakers, regulators and civil society, through their initiatives, influence the CEOs' framing of sustainability. It is thus important for regulators to substantiate sustainability-related discourses and develop conceptual tools and language of social and environmental sustainability that can lead CEO framing more effectively.

The study engages with Goffman's notion of dynamic framing. Dynamic framing suggests a novel view of reporting as a film series, presenting many frames of sustainability over time and conceptualises CEO framing of sustainability as adaptive framing.

This paper aims to conceptualize and empirically illustrate the challenges that financial market regulation presents to politicians and the organization tasked with specifying regulations and supervising their implementation in the interest of users and consumers of financial instruments. It analyses the problem from the viewpoint of the governor's dilemma and the control/competence conflict, the linked problem of the rent-seeking of agents/intermediators and consumers of financial instruments. Political accountability problems are enhanced by the materiality of the technologies used, i.e. algo trading.

The paper theoretically conceptualizes and empirically illustrates the argument.

The paper finds that regulators of digitalized financial markets are faced with considerable problems and depend on private agents when regulating financial transactions. However, the new technological instruments also offer new possibilities for securing compliance.

Further research should focus more in-depth on the cooperation between public and private actors in the specification and implementation of regulatory details. It should further investigate the conditions which allow regulators to use RegTech in the surveillance of financial firms.

Since financial market transactions are opaque for most users, the creation of more transparency is crucial to hold regulators accountable in their activity of surveillance of financial firms. New algorithm-based technologies may lend important support in doing so.

By linking the different analytical perspectives, i.e. the governor's dilemma vis-à-vis the intermediator or agent and the possible rent-seeking of intermediators, under the condition of a highly developed technology of financial transactions as well as the market structure, the paper offers new insights into the limits as well as new opportunities of regulating financial markets allowing for political accountability of regulators and financial firms.