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1 – 10 of 13Free banking theory, as developed in Adam Smith’s 1776 treatise, “The Wealth of Nations” is a useful tool in determining the extent to which the “invisible hand of the market”…
Abstract
Purpose
Free banking theory, as developed in Adam Smith’s 1776 treatise, “The Wealth of Nations” is a useful tool in determining the extent to which the “invisible hand of the market” should prevail in regulatory policy. The purpose of this study is to provide a timely review of the literature, evaluating the theory’s relevance to regulation of financial technology generally and cryptocurrencies (cryptos) specifically.
Design/methodology/approach
The methodology is qualitative, applying free banking theory as developed in the literature to technology-defined environments. Recent legislative developments in the regulation of cryptocurrencies in the UK, European Union and the USA, are drawn upon.
Findings
Participants in volatile cryptocurrency markets should bear the consequences of inadvisable investments in accordance with free banking theory. The decentralised nature of cryptocurrencies and the exchanges on which these are traded militate against coordinated oversight by central banks, supporting a qualified free banking approach. Differences regarding statutory definitions of cryptos as units of exchange, tokens or investment securities and the propensity of these to transition between categories across the business cycle render attempts at concerted classification at the international level problematic. Prevention of criminality through extension of Suspicious Activity Reporting to exchanges and intermediaries should be the principal objective of policymakers, rather than definitions of evolving products that risk stifling technological innovation.
Originality/value
The study proposes that instead of a traditional regulatory approach to cryptos, which emphasises holders’ safety and compensation, a free banking approach combined with a focus on criminality would be a more effective and pragmatic way forward.
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Magda Siahaan, Harry Suharman, Tettet Fitrijanti and Haryono Umar
The phenomenon of corruption requires extra handling to achieve zero corruption. The purpose of this paper is to examine the integrated governance, risk management and compliance…
Abstract
Purpose
The phenomenon of corruption requires extra handling to achieve zero corruption. The purpose of this paper is to examine the integrated governance, risk management and compliance (GRC) implementation, the quality of internal audits and management's commitment to improving the ability to detect corruption and its impact on the company's financial performance.
Design/methodology/approach
This paper used primary and secondary data. Financial statement data and survey results from participants in 69 state-owned companies were analyzed using the Partial Least Square method.
Findings
There was a positive and significant effect of the integrated GRC implementation, quality of internal audit and management's commitment to increasing the organization's internal capability in detecting corruption. However, the failure to detect corruption mediates the effect of management commitment on financial performance. Besides, the organization's three internal factors could be better because their functions could be more optimal and require further improvement.
Research limitations/implications
State-owned companies are continuing to be restructured, so these results can be helpful for now. However, they must update continuously with developments related to the composition and classification of state-owned companies.
Practical implications
Organizations can improve their ability to detect corruption in the workplace by using an early warning system such as the integrated GRC, internal audit quality and a high commitment from management.
Originality/value
To the author's limited knowledge, empirical research on integrated GRC implementation, internal audit quality and management commitment are still rare if they improve the detection of corruption ability. It uses the factors that cause corruption in the fraud hexagon to analyze the financial performance.
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Grant Samkin, Dessalegn Getie Mihret and Tesfaye Lemma
We develop a conceptual framework as a basis for thinking about the impact of extractive industries and emancipatory potential of alternative accounts. We then review selected…
Abstract
Purpose
We develop a conceptual framework as a basis for thinking about the impact of extractive industries and emancipatory potential of alternative accounts. We then review selected alternative accounts literature on some contemporary issues surrounding the extractive industries and identify opportunities for accounting, auditing, and accountability research. We also provide an overview of the other contributions in this special issue.
Design/methodology/approach
Drawing on alternative accounts from the popular and social media as well as the alternative accounting literature, this primarily discursive paper provides a contemporary literature review of identified issues within the extractive industries highlighting potential areas for future research. The eight papers that make up the special issue are located within a conceptual framework is employed to illustrate each paper’s contribution to the field.
Findings
While accounting has a rich literature covering some of the issues detailed in this paper, this has not necessarily translated to the extractive industries. Few studies in accounting have got “down and dirty” so to speak and engaged directly with those impacted by companies operating in the extractive industries. Those that have, have focused on specific areas such as the Niger Delta. Although prior studies in the social governance literature have tended to focus on disclosure issues, it is questionable whether this work, while informative, has resulted in any meaningful environmental, social or governance (ESG) changes on the part of the extractive industries.
Research limitations/implications
The extensive extractive industries literature both from within and outside the accounting discipline makes a comprehensive review impractical. Drawing on both the accounting literature and other disciplines, this paper identifies areas that warrant further investigation through alternative accounts.
Originality/value
This paper and other contributions to this special issue provide a basis and an agenda for accounting scholars seeking to undertake interdisciplinary research into the extractive industries.
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Anuj Gupta, Arjun Chakravorty, Neha Garg and Pankaj Singh
Though the concept of work engagement has been extensively explored in the academic literature, however, with engagement levels declining globally – causing hike in undesired…
Abstract
Purpose
Though the concept of work engagement has been extensively explored in the academic literature, however, with engagement levels declining globally – causing hike in undesired employee attitudes and behaviours – there is a need to revisit its antecedents and consequences that bear higher current relevance. Within the context of the Indian information technology (IT) sector, this study aims to explore the role of job security and value congruence as two critical antecedents which not only lead to increased engagement levels but also consequently yield the enhanced perception of change, amplified general life satisfaction and reduced intent to leave among employees.
Design/methodology/approach
Data were collected from 363 software developers (SDs) in India using the survey questionnaire method and structured equation modelling was used to test the proposed measurement and structural model. The results supported the proposed hypotheses and confirmed the role of work engagement as a mediator between the studied antecedents and consequences.
Findings
Results from a study of 363 SDs across India support the proposed hypotheses and confirm the role of work engagement as a mediator between the studied antecedents and consequences.
Research limitations/implications
This study was cross-sectional; therefore, caution is necessary while making any causal inferences. Further work based on longitudinal data would strengthen these findings.
Practical implications
The findings of the study will provide the decision-makers of IT companies with tools to increase engagement among SDs thereby increasing favorable outcomes for organizations and individual employees in the current times.
Originality/value
The study establishes job security and value congruence, as two critical yet cost-effective measures that today’s organization need to integrate into its human resources functions not just to boost employee engagement levels but also to control spiraling costs due to unintended turnover, employee’s resistance of organizational changes and employee ill-being. Future research avenues and practical implications have been discussed.
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Sultan Salem Saeed AlShamsi, Kamarul Zaman Bin Ahmad and Sajjad M. Jasimuddin
This paper aims to examine the mediating effect of work engagement on the relationship between curiosity and innovative work behavior. The context of the study is the initial…
Abstract
Purpose
This paper aims to examine the mediating effect of work engagement on the relationship between curiosity and innovative work behavior. The context of the study is the initial stages of the pandemic starting April 2020, when international travel became restricted.
Design/methodology/approach
Self-administered questionnaires were distributed and collected from 327 respondents of 32 organizations in the aviation industry in the United Arab Emirates (UAE).
Findings
As hypothesized, work engagement is a mediator of the relationship between curiosity and innovative work behavior.
Research limitations/implications
The limited sample size and confinement to the aviation industry in the UAE limit the generalisation of the results.
Practical implications
Managers desirous of improving employees’ innovative work behavior will now understand how employees’ curiosity and exploration can impact innovative work behavior through the employees’ work engagement. Therefore, managers should focus on ensuring how employees’ curiosity and exploration can be created into work engagement, ultimately leading to innovative work behavior.
Originality/value
This research extends the social learning theory by positing that people who have strong traits of curiosity and exploration, will learn from others on how to work more effectively. This will make them more absorbed in their work (work engagement) and subsequently lead to innovative work behavior.
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Adhi Alfian, Hamzah Ritchi and Zaldy Adrianto
Increased fraudulent practices have heightened the need for innovation in anti-fraud programs, necessitating the development of analytics techniques for detecting and preventing…
Abstract
Purpose
Increased fraudulent practices have heightened the need for innovation in anti-fraud programs, necessitating the development of analytics techniques for detecting and preventing fraud. The subject of fraud analytics will continue to expand in the future for public-sector organizations; therefore, this research examined the progress of fraud analytics in public-sector transactions and offers suggestions for its future development.
Design/methodology/approach
This study systematically reviewed research on fraud analytics development in public-sector transactions. The review was conducted from June 2021 to June 2023 by identifying research objectives and questions, performing literature quality assessment and extraction, data synthesis and research reporting. The research mainly identified 43 relevant articles that were used as references.
Findings
This research examined fraud analytics development related to public-sector financial transactions. The results revealed that fraud analytics expansion has not spread equally, as most programs have been implemented by governments and healthcare organizations in developed countries. This research also exposed that the analytics optimization in fraud prevention is higher than for fraud detection. Such analytics help organizations detect fraud, improve business effectiveness and efficiency, and refine administrative systems and work standards.
Research limitations/implications
This research offers comprehensive insights for researchers and public-sector professionals regarding current fraud analytics development in public-sector financial transactions and future trends.
Originality/value
This study presents the first systematic literature review to investigate the development of fraud analytics in public-sector transactions. The findings can aid scholars' and practitioners' future fraud analytics development.
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Shubhomoy Banerjee, Ateeque Shaikh and Archana Sharma
The study aims to determine the role of online retail website experience on brand happiness and willingness to share personal information using the theoretical lens of the…
Abstract
Purpose
The study aims to determine the role of online retail website experience on brand happiness and willingness to share personal information using the theoretical lens of the Stimulus-Organism-Response (SOR) framework. Further, it explores the role of brand intimacy and brand partner quality in mediating the path between brand happiness and willingness to share personal information.
Design/methodology/approach
This study used a cross-sectional survey design to collect data from 439 online retail consumers in India, using an online questionnaire. The data were analysed using Structural Equation Modelling in IBM Amos.
Findings
The present study found that online retail website experience is significantly related to brand happiness. The finding also supports that brand happiness was positively and significantly related to ‘consumers' willingness to share personal information. This relationship was fully mediated by brand intimacy. Brand happiness also mediated the relationship between website experience and the willingness to share personal information.
Research limitations/implications
This study contributes to the emerging literature on brand happiness and willingness to share personal information. It establishes a central role of brand happiness as a driver and a mediator of consumers' willingness to share personal information with e-commerce retailers, extending the stimulus-organism-response framework in the context of brand happiness and willingness to share personal information. Further, the study establishes the role of website experience as a marketer (and brand) led driver of brand happiness.
Practical implications
The results have implications for the role of the website in enhancing the consumer experience, which in turn is a driver of brand happiness. Further, managers need to promote brand happiness with the help of website experience to enable consumers’ willingness to share personal information and help organizations customize their marketing campaigns.
Originality/value
This is among the first studies to evaluate brand happiness from the perspective of an online retail website experience and consider consumers’ willingness to share personal information from a branding rather than a technological perspective. Additionally, the study introduces the SOR framework in the context of brand happiness, with website experience acting as a stimulus for consumers, resulting in brand happiness, which is mediated by brand partner quality and brand intimacy (organism), leads to consumers' willingness to share personal information with online retail brands (response).
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Nathalie Kron, Jesper Björkman, Peter Ek, Micael Pihlgren, Hanan Mazraeh, Benny Berggren and Patrik Sörqvist
Previous research suggests that the compensation offered to customers after a service failure has to be substantial to make customer satisfaction surpass that of an error-free…
Abstract
Purpose
Previous research suggests that the compensation offered to customers after a service failure has to be substantial to make customer satisfaction surpass that of an error-free service. However, with the right service recovery strategy, it might be possible to reduce compensation size while maintaining happy customers. The aim of the current study is to test whether an anchoring technique can be used to achieve this goal.
Design/methodology/approach
After experiencing a service failure, participants were told that there is a standard size of the compensation for service failures. The size of this standard was different depending on condition. Thereafter, participants were asked how much they would demand to be satisfied with their customer experience.
Findings
The compensation demand was relatively high on average (1,000–1,400 SEK, ≈ $120). However, telling the participants that customers typically receive 200 SEK as compensation reduced their demand to about 800 SEK (Experiment 1)—an anchoring effect. Moreover, a precise anchoring point (a typical compensation of 247 SEK) generated a lower demand than rounded anchoring points, even when the rounded anchoring point was lower (200 SEK) than the precise counterpart (Experiment 2)—a precision effect.
Implications/value
Setting a low compensation standard—yet allowing customers to actually receive compensations above the standard—can make customers more satisfied while also saving resources in demand-what-you-want service recovery situations, in particular when the compensation standard is a precise value.
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Jasmin Godemann, Bich-Ngoc Nguyen and Christian Herzig
This paper aims to present the progress of the implementation of sustainability in business schools in line with the United Nations Principles for Responsible Management Education…
Abstract
Purpose
This paper aims to present the progress of the implementation of sustainability in business schools in line with the United Nations Principles for Responsible Management Education (PRME) and its principles of responsible management education.
Design/methodology/approach
By analyzing the content of the Sharing of Information on Progress reports from PRME signatories, this study identified significant developments in the strategies business school use to implement sustainability. However, it seems that a framework that business schools can apply to accomplish that goal is still lacking. This paper proposes a framework that addresses four components of the integration process and stresses the important role of stakeholders. The authors discuss the results from 2021 in comparison to the results of a previous analysis of the first 100 signatories from 2010 and analyze the findings in relation to the developed framework.
Findings
This study shows that business schools have improved their sustainability engagement in many areas (e.g. education offerings and teaching methods, campus practices and engaging stakeholders). However, less attention has been paid to other aspects, such as reviewing and assessing, capability development or communication, which could slow the transformation process. The authors discuss further implications of the findings for enhancing the PRME signatories’ ability to implement the underrecognized aspects.
Originality/value
While the analysis focuses on the status and progress of the integration of PRME within business schools during the past decade, the framework may enable higher education institutions to analyze their potential to implement change and plan future transformation strategies.
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Marcelo Cordeiro, Francisco Puig and Lorena Ruiz-Fernández
This paper aims to shed light on the mechanisms that connect dynamic capabilities and organizational knowledge in the innovative process to offer a new theoretical and practical…
Abstract
Purpose
This paper aims to shed light on the mechanisms that connect dynamic capabilities and organizational knowledge in the innovative process to offer a new theoretical and practical solution considering the microfoundations of knowledge management strategies.
Design/methodology/approach
This research has emerged from an in-depth case study of an effective innovation (from just ethanol and sugar-production to an effective biomass plant). The study represents an “inductive inquiry,” useful to understand specific “organizational mechanisms” of innovation, where the main data came from in-depth interviews with 18 key actors. It proved to help search the development of a specific biomass plant, designed and implemented between 2000 and 2007 in a Brazilian ethanol and sugar-production large company, referred to here as “Energyplant.”
Findings
This solution provides a new perspective based on the idea that dynamic capabilities are context-dependent and presents an original typological map that shows and materializes dynamic capabilities as teams of human-based resources. Managerial implications can be drawn from the capabilities typological map highlighting that, although identical dynamic capabilities are not required to change different firms, idiosyncratic dynamic capabilities perform universal knowledge functions that can be mapped, contributing to the planning of a specific innovation.
Originality/value
While the dynamic capabilities research has been seen as one of the most vibrant topics in strategic management, scholars have recently stressed that dynamic capabilities continue to be underrated because the knowledge mechanisms that lead to effective innovations have not been adequately explored. The visual mapping is then applied to solve the reviewed theoretical problems, being also suggested to firms interested in change and adapting their capabilities to the requirements of the business environment.
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