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In this paper the interconnectedness among financial institutions and the level of systemic risks of four types of Chinese financial institutions are investigated.

By the means of RAS algorithm, the interconnection among financial institutions are illustrated. Different methods, including Linear Granger, Systemic impact index (SII), vulnerability index (VI), CoVaR, and MES are used to measure the systemic risk exposures across different institutions.

The results illustrate that big banks are more interconnected and hold the biggest scales of inter-bank transactions in the financial network. The institutions which have larger size tend to have more connection with others. Insurance and security companies contribute more to the systemic risk where as other institutions, such as trusts, financial companies, etc. may bring about severe loss and endanger the financial system as a whole.

Since other institutions with low levels of regulation may bring about higher extreme loss and suffer the whole system, it deserves more attention by regulators considering the contagion of potential risks in the financial system.

This study builds a valuable contribution by examine the systemic risks from the perspectives of both interconnection and tail risk measures. Furthermore; Four types financial institutions are investigated in this paper.

The purpose of this paper is to study the evolution of financial contagion between Eurozone banks, observing the credit default swaps (CDSs) market during the period 2009–2017.

The authors use a dynamic spatial Durbin model that enables to explore the direct and indirect effects over the short and long run and the transmission channels of the contagion.

The results show how contagion emerges through physical and financial market links between banks. This finding implies that a bank can fail because people expect other related financial institutions to fail as well (self-fulfilling crisis). The study provides statistically significant evidence of the presence of credit risk spillovers in CDS markets. The findings show that equity market dynamics of “neighbouring” banks are important factors in risk transmission.

The research provides a new contribution to the analysis of EZ banking risk contagion, studying CDS spread determinants both under a temporal and spatial dimension. Considering the cross-dependence of credit spreads, the study allowed to verify the non-linearity between the probability of default of a debtor and the observed credit spreads (credit spread puzzle). The authors provide information on the transmission mechanism of contagion and, on the effects among the largest banks. In fact, through the study of short- and long-term impacts, direct and indirect, the paper classify banks of systemic importance according to their effect on the financial system.

The purpose of this article is to show (1) how social innovations are created through co-production in social enterprises in Finland and (2) how enabling ecosystems for the creation of social innovations can be enhanced by the government.

This study is a descriptive case study. The data comprises focus group interviews that were conducted during a research project in Finland in 2022. The interviewees represented different social enterprises, other non-profit organisations and national funding institutions.

Social enterprises create social innovations in Finland through co-production, where service innovation processes, activism and networking are central. Also, to build an enabling ecosystem, government must base the system upon certain elements: enabling characteristics of the stakeholders, co-production methods and tools and initiatives by the government.

The authors address an important challenge that social enterprises struggle with: The position of social enterprises in Finland is weak and entrepreneurs experience prejudice from both the direction of “traditional” businesses and the government which often does not recognise social enterprise as a potential partner for public service delivery. Nonetheless, social enterprises create public value by contributing to the co-production of public services. They work in interorganisational networks by nature and can succeed where the traditional public organisations and private businesses fail.

The purpose of this paper is to examine how first-tier suppliers in multi-tier supply chains adapt their vertical and horizontal relationships to reduce the risk of slavery-like practices.

Using Archer’s morphogenetic theory as an analytical lens, this paper presents case analyses adduced from primary and secondary data related to the development of relational anti-slavery supply capabilities in Brazilian–UK beef and timber supply chains.

Four distinct types of adaptation were found among first-tier suppliers: horizontal systemisation, vertical systemisation, horizontal transformation and vertical differentiation.

This study draws attention to the socially situated nature of corporate action, moving beyond the rationalistic discourse that underpins existing research studies of multi-tier, socially sustainable, supply chain management. Cross-sector comparison highlights sub-country and intra-sectoral differences in both institutional setting and the approaches and outcomes of individual corporate actors’ initiatives. Sustainable supply chain management theorists would do well to seek out those institutional entrepreneurs who actively reshape the institutional conditions within which they find themselves situated.

Practitioners may benefit from adopting a structured approach to the analysis of the necessary or contingent complementarities between their, primarily economic, objectives and the social sustainability goals of other, potential, organizational partners.

A range of interventions that may serve to reduce the risk of slavery-like practices in global commodity chains are presented.

This paper presents a novel analysis of qualitative empirical data and extends understanding of the agential role played by first-tier suppliers in global, multi-tier, commodity, supply chains.

This chapter outlines milestones and circumstances that led to the evolution of the profession of research management and administration (RMA) in Poland. The RMA has a history stretching back around 20 years, with the breakthrough year being in 2007, when the Polish National Council for Research Project Coordinators (KRAB) was established. Currently, the Polish community of RMA is scattered across universities, scientific and research institutes; and its RMAs are employed in research support centres, national/international research programmes offices or welcome offices. At the national level, main activities concerning RMA are centred around KRAB and its pool of activities related to research project management implemented by International Project Management Association (IPMA) Poland. In some respects, RMA can still be considered a semi-profession in the country; and RMAs are that part of the administration staff engaged with the development of scientific excellence in research institutions: they are more often an invisible workforce, but necessary to project development and related activities. There are no dedicated RMA certifications available yet, however, support for RMAs in Poland has been consistently becoming stronger and more widespread over the years in the higher education system (HES) and beyond.

China has invested massively in higher education, reaching a mass system, envisaging, as a next step, reaching a universal system. Brazil is still an elite system but needs to create adequate public policies to migrate to a mass system. The purpose of this article is to analyze the paradigms for a mass educational system, with regard to the quality of education offered, and the prospects for achieving a universal system, with Brazil and China as a reference.

The author applied an exploratory and qualitative method, through categorical content analysis. The data were collected through nine interviews with government managers, 15 unstructured (open) questionnaires to specialists in higher education and four student leadership.

The results indicate that the change from an elite system to a mass system impacts quality, as there is an inevitable change in experience. However, this modification does not testify against the mass system, as it is necessary for a nation to pass through it and structure itself adequately in order to reach the universal system, a path desired by both countries.

The study presented the reflections observed by the migration from the elite system to the mass system from the main stakeholders of the system in China and the prospects for Brazil to become a mass system. Additionally, it presented the perspectives for both countries to achieve the desired universal system.

Drawing insights from institutional theory, this paper aims to examine whether and to what extent banks have reconfigured their management control systems (MCSs) in response to growing institutional pressures towards sustainability, understood as environmental, social and governance (ESG) issues.

The authors conducted an exploratory study at the three largest Italian banking groups to shed light on changes made in MCSs to account for ESG issues. The analysis is based on 12 semi-structured interviews with managers from the sustainability and controls areas, as well as from other relevant operational areas particularly concerned with the integration process of ESG issues. Additionally, secondary data sources were used. The Malmi and Brown (2008) MCS framework, consisting of a package of five types of formal and informal control mechanisms, was used to structure and analyse the empirical data.

The examined banks widely implemented numerous changes to their MCSs as a response to the heightened sustainability pressures from regulatory bodies and stakeholders. In particular, with the exception of action planning, the results show an extensive integration of ESG issues into the five control mechanisms of Malmi and Brown’s framework, namely, long-term planning, cybernetic, reward/compensation, administrative and cultural controls.

By identifying the approaches banks followed in reconfiguring traditional MCSs, this research sheds light on how adequate MCSs can promote banks’ “sustainable behaviours”. The results can, thus, contribute to defining best practices on how MCSs can be redesigned to support the integration of ESG issues into the banks’ way of doing business.

Overall, the findings support the theoretical assertion that institutional pressures influence the design of banks’ MCSs, and that both formal and informal controls are necessary to ensure a real engagement towards sustainability. More specifically, this study reveals that MCSs, by encompassing both formal and informal controls, are central to enabling banks to appropriately understand, plan and control the transition towards business models fully oriented to the integration of ESG issues. Thereby, this allows banks to effectively respond to the increased stakeholder demands around ESG concerns.

Unlimited quantitative easing (QE) is one of the monetary policies used to stimulate the economy during the coronavirus disease 2019 (COVID-19) pandemic. This policy has affected the financial markets worldwide. This empirical research aims at studying the dependence among stock markets before and after unlimited QE announcements.

The copula-based GARCH (1,1) and minimum spanning tree models are used in this study to analyze 14 series of stock market data, on 6 ASEAN and 8 other countries outside the region. The data are divided into two periods to compare the differences in dependence.

The findings show changes in dependence among the volatility of daily returns in 14 stock markets during each period. After the unlimited QE announcement, the upper tail dependence became more apparent, while the role of the lower tail dependence was reduced. The minimum spanning tree can show the close relationships between stock markets, indicating changes in the connection network after the announcement.

This study allows the dependency to be compared between stock market volatility before and after the announcement of unlimited QE during the COVID-19 pandemic. Moreover, the study fills the literature gap by combining the copula-based GARCH and the minimum spanning tree models to analyze and reveal the systemic network of the relationships.

This paper aims to develop and apply a service design method that allows for stronger recognition and integration of human activities into the front-end stages of the service design process.

Following a discussion of different service design perspectives and activity theory, the paper develops a method called activity-set mapping (ActS). ActS is applied to an exploratory service design project to demonstrate its use.

Three broad perspectives on service design are suggested: (1) the dyadic interaction, (2) the systemic interaction and (3) the customer activity perspectives. The ActS method draws on the latter perspective and focuses on the study of human activity sets. The application of ActS shows that the method can help identify and visualize sets of activities.

The ActS method opens new avenues for service design by zooming in on the micro level and capturing the set of activities linked to a desired goal achievement. However, the method is limited to activities reported by research participants and may exclude unconscious activities. Further research is needed to validate and refine the method.

The ActS method will help service designers explore activities in which humans engage to achieve a desired goal/end state.

The concept of “human activity set” is new to service research and opens analytical opportunities for service design. The ActS method contributes a visualization tool for identifying activity sets and uncovering the benefits, sacrifices and frequency of activities.

While previous literature has emphasized the causal relationship from liquidity to capital, the impact of interbank network characteristics on this relationship remains unclear. By applying the interbank network simulation, this paper aims to examine whether the causal relationship between capital and liquidity is influenced by bank positions in the interbank network.

Using the sample of 506 commercial banks established in 28 European countries from 2001 to 2013, the author adopts the generalized method of moments simultaneous equations approach to investigate whether interbank network characteristics influence the causal relationship between bank capital and liquidity.

Drawing on a sample of commercial banks from 28 European countries, this study suggests that the interconnectedness of banks within interbank loan and deposit networks shapes their decisions to establish higher or lower regulatory capital ratios in the face of increased illiquidity. These findings support the implementation of minimum liquidity ratios alongside capital ratios, as advocated by the Basel Committee on Banking Regulation and Supervision. In addition, the paper underscores the importance of regulatory authorities considering the network characteristics of banks in their oversight and decision-making processes.

This paper makes a valuable contribution to the current body of research by examining the influence of interbank network characteristics on the relationship between a bank’s capital and liquidity. The findings provide insights that add to the ongoing discourse on regulatory frameworks and emphasize the necessity of customized approaches that consider the varied interbank network positions of banks.