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1 – 10 of 185This study aims to help develop “business principles for stakeholder capitalism” in two steps. First, the study defines internal logic of three theories of capitalism and two…
Abstract
Purpose
This study aims to help develop “business principles for stakeholder capitalism” in two steps. First, the study defines internal logic of three theories of capitalism and two variants within each theory. Second, it examines approaches to integration into modern democratic capitalism. Treating the three theories as substitutes identifies relative strengths and weaknesses; complementarity and partial overlap approaches to integration study the institutional settings within which stakeholder capitalism operates. Empirical outcomes reflect competition between market and stakeholder businesses for participants, with institutional conditions determining the scope of collective action.
Design/methodology/approach
The approach aligns three typologies in a unique conceptual arrangement defining the three theories of capitalism: forms of capitalism, potential failures of each form and associated types of goods. The first method examines the internal logic of each theory of capitalism. The second draws on traditional narrative review of references documenting each theory of capitalism and variants together with modern Marxist anti-capitalism.
Findings
Three typologies align uniquely with the theories of capitalism, each having two variants. Both variants of stakeholder capitalism are compatible with compassionate capitalism, constitutional government or polycentric governance but not with self-interest capitalism, dictatorship or Marxism. A theory of modern democratic capitalism allocates roles for private, club and social goods with empirically variable mixes occurring across countries. Competition among different types of enterprises provides an empirical test for comparative advantages of stakeholder capitalism. Future research should consider approaches for testing the proposed conceptual scheme in practice concerning capacity to deal with grand challenges, wicked problems and black swan events.
Research limitations/implications
Research approach is limited to logical examination of theories and literature documentation without direct empirical confirmation. The study does not address practical implications for managers and public officials or social implications concerning private incentives, stakeholder cooperation or collective action.
Originality/value
Originality lies in shifting terms of debate about stakeholder capitalism from advocacy of substitute theories to understanding of its relationship to market capitalism and collective action capitalism. Value lies in explaining desirability of theoretical integration of three types of capitalism into a comprehensive framework for modern democratic capitalism.
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The paper provides a detailed historical account of Douglass C. North's early intellectual contributions and analytical developments in pursuing a Grand Theory for why some…
Abstract
Purpose
The paper provides a detailed historical account of Douglass C. North's early intellectual contributions and analytical developments in pursuing a Grand Theory for why some countries are rich and others poor.
Design/methodology/approach
The author approaches the discussion using a theoretical and historical reconstruction based on published and unpublished materials.
Findings
The systematic, continuous and profound attempt to answer the Smithian social coordination problem shaped North's journey from being a young serious Marxist to becoming one of the founders of New Institutional Economics. In the process, he was converted in the early 1950s into a rigid neoclassical economist, being one of the leaders in promoting New Economic History. The success of the cliometric revolution exposed the frailties of the movement itself, namely, the limitations of neoclassical economic theory to explain economic growth and social change. Incorporating transaction costs, the institutional framework in which property rights and contracts are measured, defined and enforced assumes a prominent role in explaining economic performance.
Originality/value
In the early 1970s, North adopted a naive theory of institutions and property rights still grounded in neoclassical assumptions. Institutional and organizational analysis is modeled as a social maximizing efficient equilibrium outcome. However, the increasing tension between the neoclassical theoretical apparatus and its failure to account for contrasting political and institutional structures, diverging economic paths and social change propelled the modification of its assumptions and progressive conceptual innovation. In the later 1970s and early 1980s, North abandoned the efficiency view and gradually became more critical of the objective rationality postulate. In this intellectual movement, North's avant-garde research program contributed significantly to the creation of New Institutional Economics.
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Jing An, Suicheng Li and Xiao Ping Wu
Project managers bear the responsibility of selecting and developing resource scheduling methods that align with project requirements and organizational circumstances. This study…
Abstract
Purpose
Project managers bear the responsibility of selecting and developing resource scheduling methods that align with project requirements and organizational circumstances. This study focuses on resource-constrained project scheduling in multi-project environments. The research simplifies the problem by adopting a single-project perspective using gain coefficients.
Design/methodology/approach
It employs uncertainty theory and multi-objective programming to construct a model. The optimal solution is identified using Matlab, while LINGO determines satisfactory alternatives. By combining these methods and considering actual construction project situations, a compromise solution closely approximating the optimal one is derived.
Findings
The study provides fresh insights into modeling and resolving resource-constrained project scheduling issues, supported by real-world examples that effectively illustrate its practical significance.
Originality/value
The research highlights three main contributions: effective resource utilization, project prioritization and conflict management, and addressing uncertainty. It offers decision support for project managers to balance resource allocation, resolve conflicts, and adapt to changing project demands.
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Amir Emami, Zeinab Taheri and Rasim Zuferi
This paper aims to investigate the interactive relationship between learning styles and cognitive biases as two essential factors affecting information processing in online…
Abstract
Purpose
This paper aims to investigate the interactive relationship between learning styles and cognitive biases as two essential factors affecting information processing in online purchases.
Design/methodology/approach
This research is applied in nature but extends the knowledge in the area of consumer behavior. By using the correlational research method, the present study uncovers the relationship between various sorts of decision biases and learning styles among online buyers.
Findings
According to the results, the most affected learning style among all is reflective observation. Several biases influence people with this learning style, namely, risky framing, attribute framing and aggregated/segregated framing. In the case of active experimentation, online customers can undo its effect. Therefore, online sellers should be aware of their target customers with such a learning style. In addition, online purchasers with the reflective observation learning style are more prone to aggregation and segregation of sales information.
Originality/value
The findings enhance the understanding of consumer buying behavior and the extent to which learning styles impact cognitive biases and framing effects in online shopping.
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Nur Faiza Ishak and Vinesh Thiruchelvam
The purpose of this study is to discuss policy review in the interest of sustainable innovations in Malaysia’s public procurement. This study also offers the overall relationship…
Abstract
Purpose
The purpose of this study is to discuss policy review in the interest of sustainable innovations in Malaysia’s public procurement. This study also offers the overall relationship between existing policies related to sustainable innovations in public procurement and the coherences towards the four dimensions of sustainable innovations.
Design/methodology/approach
This study outlines the current policies in Malaysia which are related to sustainable innovation initiatives and explores the cohesiveness that appears disconnected and understood separately. Policy content analysis is conducted on the current policies related to sustainable innovations in the context of Malaysia’s public procurement.
Findings
This study observed that the current policies related to sustainable innovations in public procurement are actually interconnected with each other through a hierarchical framework. This study also demonstrates that the 12th Malaysia Plan has comprehensively encompassed every aspect of the environment, social, economic and innovation to contribute to one primary goal – green economic growth.
Research limitations/implications
The proposed policy framework is expected to be beneficial for the administrator executive among the civil servant to connect the independent policies and, at the same time, contribute to the overall goal of green economic growth. Through a broad policy structure too, this study helps the industry player to recognize their potential in any area related to sustainable innovation.
Originality/value
The policy framework illustrated is new to the literature, especially in Malaysia’s context. The compilation of current policy grounded by the 12th Malaysia Plan has not been presented in any publications.
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Thanduxolo Elford Fana and Jane Goudge
In this paper, the authors examine the strategies used to reduce labour costs in three public hospitals in South Africa, which were effective and why. In the democratic era, after…
Abstract
Purpose
In this paper, the authors examine the strategies used to reduce labour costs in three public hospitals in South Africa, which were effective and why. In the democratic era, after the revelations of large-scale corruption, the authors ask whether their case studies provide lessons for how public service institutions might re-make themselves, under circumstances of austerity.
Design/methodology/approach
A comparative qualitative case study approach, collecting data using a combination of interviews with managers, focus group discussions and interviews with shop stewards and staff was used.
Findings
Management in two hospitals relied on their financial power, divisions between unions and employees' loyalty. They lacked the insight to manage different actors, and their efforts to outsource services and draw on the Extended Public Works Program failed. They failed to support staff when working beyond their scope of practice, reducing employees' willingness to take on extra responsibilities. In the remaining hospital, while previous management had been removed due to protests by the unions, the new CEO provided stability and union–management relations were collaborative. Her legitimate power enabled unions and management to agree on appropriate cost cutting strategies.
Originality/value
Finding an appropriate balance between the new reality of reduced financial resources and the needs of staff and patients, requires competent unions and management, transparency and trust to develop legitimate power; managing in an authoritarian manner, without legitimate power, reduces organisational capacity. Ensuring a fair and orderly process to replace ineffective management is key, while South Africa grows cohorts of competent managers and builds managerial experience.
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Patrizia Tettamanzi, Francesco Grazioli and Michael Murgolo
This study investigates how the COVID-19 pandemic has affected the sustainability of sports business models by means of a specific case analysis, conducted on M-I Stadio S.r.l.…
Abstract
Purpose
This study investigates how the COVID-19 pandemic has affected the sustainability of sports business models by means of a specific case analysis, conducted on M-I Stadio S.r.l., the service management firm that provides all types of backstage activities related to football matches performed at San Siro Stadium in Italy.
Design/methodology/approach
Building on interviews on its management team's direct experience and on archival data, the authors depict the consequences of the pandemic in terms of corporate governance, accounting choices and overall strategic business development through information triangulation from a forward-looking perspective.
Findings
Complying with restrictions, M-I Stadio S.r.l. preserved its financial position by embracing digitalization, increasing information flows with partners and adopting a risk aversion behaviour. Overall, results indicate that the pandemic played a catalyst role in the transformation process of the football industry. Moreover, apart from the physical and virtual merge acceleration, well-being for athletes, society and the planet, transcending the gaming part of sports activities has also been taking place. The study also illustrates the foreseeable developments of sustainable sport management practices from a critical perspective.
Originality/value
Since the San Siro Stadium management company might represent one of the forefront companies, within the sports industry, this study results should be conveniently taken into consideration by sporting authorities and international bodies, emphasizing the relevance of sustainability (i.e. environmental and social practices within the sports industry) and digitalization so as to better prepare sports organizations and to provide the overall industry with the tools deemed necessary to navigate this important transition in a smoother way.
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Cyrus A. Ramezani and James J. Ahern
As digital technologies expand access to new forms of legalized gambling, including sports betting and online gaming, it is important to assess the impact of macroeconomic and…
Abstract
Purpose
As digital technologies expand access to new forms of legalized gambling, including sports betting and online gaming, it is important to assess the impact of macroeconomic and equity market outcomes on fund flows into gambling. The authors’ findings will be of interest to policymakers and the gambling industry, as various forms of gambling, including day trading, gain broad public acceptance.
Design/methodology/approach
The authors examine the impact of macroeconomic forces, business cycles, and financial market wealth on gambling. The authors propose a nonlinear model linking aggregate gambling expenditures to macroeconomic, stock market, and gambling industry variables. The authors estimate the proposed model using nonlinear estimation procedures.
Findings
The authors find that price of wagering, incomes, and supply of gambling opportunities are the primary determinants of wagering demand. Aggregate wagering is negatively impacted by realized stock returns and market volatility, but rises during recessions.
Originality/value
To the best of the authors’ knowledge, the questions posed and addressed in this manuscript have not been addressed in prior literature.
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Regarding human resource and labour relations management, academia focuses mainly on cities; however, rural areas are an integral part of China's economic structure. This study…
Abstract
Purpose
Regarding human resource and labour relations management, academia focuses mainly on cities; however, rural areas are an integral part of China's economic structure. This study focuses on the movie projection industry in China's rural areas and explores how human resource practices (HRPs) are transformed and the labour process is reconstructed in digital transformation.
Design/methodology/approach
We adopt a case study of a rural movie projection company. The company's HRPs reconstructed the labour process of movie projection, and they have been promoted as national standards. Data were collected from in-depth interviews, files and observations.
Findings
Rural movie projection companies combine high-performance and paternalistic HRPs in the media industry's digital transformation. HRPs and digital technology jointly reconstruct the labour process. First, the HRPs direct labour process practices towards standardisation. Second, the digital supervision platform guides the control style from simple to technical, placing projectionists under pressure while increasing management efficiency. Third, rural movies made using digital technology have disenchanted rural residents. Accordingly, the conventional relationships between the “country and its citizens,” “individuals themselves,” and “models and individuals” have been removed, and a new relationship between “individuals themselves” is formed thanks to the novel HRPs.
Originality/value
This research plays a crucial role in exposing researchers to the labour process of rural movie projection, which is significant in China but often ignored by Western academia and advances the Chinese contextualisation of research on labour relations.
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Mudassar Khan, Nohman Khan, Samina Begum and Muhammad Imran Qureshi
The globe has experienced a devastating COVID-19 pandemic, putting the planet under lockdown and causing social alienation. The near collapse of social and economic activities is…
Abstract
Purpose
The globe has experienced a devastating COVID-19 pandemic, putting the planet under lockdown and causing social alienation. The near collapse of social and economic activities is disrupting the supply chain. Customer-required products were in low supply across the world. A slew of new digital firms springs up to fill the need during this time. This study aims to reach a holistic goal by better understanding customers' digitalisation behaviour. The first step is to review existing consumer digital psychology research to map this study’s current knowledge of the pandemic's early and late phases and the impact of digital businesses on consumer behaviour. Finally, it provides lawmakers with a future agenda for limiting the digital psychology of consumers and enterprises.
Design/methodology/approach
This study used the Scopus and Web of Science databases to extract records to follow the preferred reporting items for systematic reviews and meta-analyses statement. The final 57 papers were applied after the screening process. The digital environment, psychological digitalisation and behavioural changes were recognised as three primary classes based on a comprehensive examination of the previous literature. This study identified possible difficulties in earlier literature: the scarcity of collaborative and transdisciplinary research on digital psychology, which various academics have emphasised in the past. On the other hand, these investigations were primarily conducted in the psychological surroundings of technology users.
Findings
According to this study, digital psychology has improved significantly during the pandemic and many new digital start-ups have arisen. This study also used digital research to create a framework for a pandemic strategic response plan to help minimise the current COVID-19 pandemic and prepare for future outbreaks.
Originality/value
The study mapped existing literature on digital psychology alterations because of the novel COVID-19 outbreak.
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