Search results

This study investigates the performance of Indian states based on infrastructural investment in social and economic sectors using data envelopment analysis (DEA). Most of the studies in the literature are based on how different elements of infrastructure such as transport, energy, education, healthcare system affect the economy of different countries/regions. In this study, we consider these elements under two different sub-systems, namely, social and economic infrastructure and measure the cooperative efficiency for competitive growth.

A four-stage DEA approach is proposed for the analysis of a sample of 28 Indian states for the years 2011, 2013 and 2015 under consideration. First stage calculates the per capita GDP contribution, while stage-2 evaluates the efficiency of investments in social infrastructure followed by the efficiency analysis in economic infrastructure in stage-3. Finally, fourth stage evaluates the co-operative efficiency for the overall performance.

The findings of three different cases based on population sizes, viz., highly populated, moderately populated and less populated regions suggest that the government can identify the top and poor performers. It also studies the variations in efficiency tally of states using Malmquist indices.

This kind of study will vigilant government and local authorities on the investments made in all the states for social and economic infrastructure and establish a competitive environment among state governments to compete for improved infrastructural growth.

This study is the first of its kind in developing countries like India, which focuses on efficiency analysis using DEA based on two sub-sectors of social–economic infrastructural investments.

The purpose of this paper is to address the corporate governance implications of the US terror‐free investment screens, instituted both legislatively and voluntarily, on the operations of non‐US multinational corporations (MNCs) concerning international trade and foreign direct investment with nations designated as “State Sponsors of Terrorism.”

After a brief introduction to the issue of “terror‐free lists” and investment indexes and divestment screens, the paper summarizes the US Federal and State Laws pertaining to state sponsors of terrorism and their direct impact on international trade and investment transactions. The third section evaluates the success of environmental, social, and governance (ESG) indexes and investment screens compared to standard market investment indexes. The fourth section discusses the potential effects of terror‐free stock indexes and divestment (“social”) screens on corporate governance of non‐US corporations. In the final section, the paper offers business policy recommendations concerning international trade and foreign direct investment decisions and the listing of equity stock on the US financial market exchanges, and offer scholarly research questions addressing this issue.

Non‐US MNC managers should recognize, first, the importance of global corporate citizenship and reputation; second, the expansion of terror‐free investing criterion in ESG investment indexes and divestment screens; and third, the growth in the number of state government prohibitions on investing funds with foreign MNCs complicit with terror‐sponsoring states.

Exploratory in nature, this seminal paper evaluates an issue of emerging importance to non‐US MNC managers and directors concerned with potential political and economic repercussions of their international trade and foreign direct investment decisions.

The 2008/2009 World Financial Crisis underlined the importance of social responsibility for the sustainable functioning of economic markets. Heralding an age of novel heterodox economic thinking, the call for integrating social facets into mainstream economic models has reached unprecedented momentum. Financial Social Responsibility bridges the finance world with society in socially conscientious investments. Socially Responsible Investment (SRI) integrates corporate social responsibility in investment choices. In the aftermath of the 2008/2009 World Financial Crisis, SRI is an idea whose time has come. Socially conscientious asset allocation styles add to expected yield and volatility of securities social, environmental, and institutional considerations. In screenings, shareholder advocacy, community investing, social venture capital funding and political divestiture, socially conscientious investors hone their interest to align financial profit maximization strategies with social concerns. In a long history of classic finance theory having blacked out moral and ethical considerations of investment decision making, our knowledge of socio-economic motives for SRI is limited. Apart from economic profitability calculus and strategic leadership advantages, this paper sheds light on socio-psychological motives underlying SRI. Altruism, need for innovation and entrepreneurial zest alongside utility derived from social status enhancement prospects and transparency may steer investors’ social conscientiousness. Self-enhancement and social expression of future-oriented SRI options may supplement profit maximization goals. Theoretically introducing potential SRI motives serves as a first step toward an empirical validation of Financial Social Responsibility to improve the interplay of financial markets and the real economy. The pursuit of crisis-robust and sustainable financial markets through strengthened Financial Social Responsibility targets at creating lasting societal value for this generation and the following.

Field emergence poses an intriguing problem for institutional theorists. New issue fields often arise at the intersection of different sectors, amidst extant structures of meanings and actors. Such nascent fields are fragmented and lack clear guides for action; making it unclear how they ever coalesce. The authors propose that provisional social structures provide actors with macrosocial presuppositions that shape ongoing field-configuration; bootstrapping the field. The authors explore this empirically in the context of social impact investing in the UK, 2000–2013, a period in which this field moved from clear fragmentation to relative alignment. The authors combine different computational text analysis methods, and data from an extensive field-level study, to uncover meaningful patterns of interaction and structuration. Our results show that across various periods, different types of actors were linked together in discourse through “actor–meaning couplets.” These emergent couplings of actors and meanings provided actors with social cues, or macrofoundations, which guided their local activities. The authors thus theorize a recursive, co-constitutive process: as punctuated moments of interaction generate provisional structures of actor–meaning couplets, which then cue actors as they navigate and constitute the emerging field. Our model re-energizes the core tenets of new structuralism and contributes to current debates about institutional emergence and change.

In this chapter we want to demonstrate, using the example of Poland, that the socio-cultural context is important in achieving the social policy objectives of women’s professional activation and investing in children. The chapter is based on secondary analysis of data from sociological research and available public statistics (national and international) and legal documents. The thesis of the chapter refers to the theoretical concept indicated by Birgit Pfau-Effinger.

We take the view of the German sociologist Birgit Pfau-Effinger on the twofold, partially contradictory, mutual relations, and tensions between culture, institutions, social structures, and individuals who formulate the social context of female employment and child care in society. The said researcher emphasizes that the effects of similar solutions implemented in social policies in different countries vary considerably depending on the cultural context. The authors chose the subject matter of the chapter because of the changes introduced in Poland in recent years in social policy relating to the care of small children. They deal with new legal solutions that increase men’s participation in care by introducing new forms of leave for fathers.

The value of the chapter lies in pointing out the weakness of the technocratic implementation of public policies in the absence of “sociological imagination and sensitivity.” This is typical for countries in transition and post-transition periods, which includes Poland. Poor rooting of cultural knowledge and analysis in the area of programming and implementation of public policies generate a variety of social tensions.

The purpose of this paper is to explore the recently increased use of the word “investment” in the public management discourse. In particular, it examines the implications of this for accounting and public governance. It asks, is that discourse simply concerned to account for “investment” in the efficient provision of public goods and services? Or does it also seek to hold governments, and government agencies, to account for the results they achieve and, more broadly, for their investment in, and stewardship of, the capacity to do so in the future?

The paper draws on a range of literature as well as speeches made by both New Zealand politicians and officials to track the emergence and evolution of a discourse in respect of “an investment approach”. As such, the analysis represents a diachronic approach for, as Jäger and Meyer (2009) note: “To identify the knowledge of a society on a topic, the analyst has to reconstruct the genesis of this topic” (p. 46).

The initial adoption of “an investment approach” occurred in the context of attempts to gain a clearer focus on, and accountability for, the results of government interventions. Subsequently, a broader, and arguably more classic, conception of public investment has involved a developing focus on changes to the nation’s economic, social and environmental capitals. Both approaches provide significant practical challenges for accounting and the continued relevance of the accounting profession.

The paper points to an urgent need to engage the accounting profession in debates that extend beyond the adoption of accrual accounting for the control of inputs and the provision of outputs. It is suggested that a future research agenda should focus on how models of well-being, and the public capitals that enable well-being, might be better accounted for and monitored.

This paper provides an insight into the emergence, spread and ultimate fading of the use of the word “investment” in the public policy discourse in New Zealand. However, it also places that process in a wider development that is focusing on citizens’ well-being. In so doing, it also highlights the challenges for the accounting profession created by the investment turn – whether relating to investment in operational activities or in public capitals.

The “welfare reform” narrative of successive Conservative-led UK Government emphasises public spending reductions, individual responsibility and strengthening of benefit conditionality. The purpose of this paper is to cast light on how this narrative is challenged and disrupted by the Scottish Government through their articulation of a social democratic welfare state imaginary.

The study draws together a decentred governance perspective that emphasises ideational tradition for understanding (re)construction of governance (Bevir, 2013, p. 27) with critical discourse analysis to examine how welfare interpretations/representations are carried into the policy and public arena. The Scottish Government documents are deconstructed to interrogate the ideas and form of their emergent discourse and its relation to the independence referendum and welfare governance reform.

Responding to changing socio-economic contexts and welfare governance, the Scottish Government has developed a discourse of modernisation rooted in British and Scandinavian social democratic traditions. Fusing (civic) nationalism with social wage and social investment concepts, they conjure up imaginaries of a prosperous, solidaristic, egalitarian welfare state as a feasible future reality, recuperating “welfare” as a collective endeavour and positioning a maldistribution of power/resources between groups and constituent countries of the UK as the “problem”.

The paper is of value to those interested in how changes to centralised-hierarchical welfare governance can open new spaces for actors at different levels of government to articulate counter-hegemonic discourses and practices. Its originality lies in the analysis of how the Scottish Government has reworked social democratic traditions to weave together a welfare imaginary that directly contests the problem-solution narrative of successive Conservative-led UK Governments.

Childhood often represents a central arena through which we construct our fantasies about the future and a battleground through which we struggle to express competing ideological agendas. (Timimi, 2006, p. 35)One critical part of the future is our children. The way we bring them up is an indication of how we feel about the future; and of course our attitudes to the young and ideas on how they should be educated reveal much about the present …. Without a strong sense of how we want the future to be, the government tends to revert to a default position, thinking mainly about how children will fit into the economy. (Davison, 2005, p. 7)