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The purpose of this paper is to uncover the underlying drivers of sustained high performing companies based on a field study of 127 companies in Brazilian, Russian, Indian and Chinese (BRIC) and Association of Southeast Asian Nations (ASEAN) emerging markets. Understanding these companies provides a complementary way of appraising the growth, development and transformation of emerging markets. The authors synthesize the findings in an overarching framework that covers six strategies for building and sustaining legacy that leads to the succession of intergenerational wealth over time: overcoming institutional voids, inclusive markets, deepening localization, nurturing government support, building core competencies and harnessing human capital. The authors relate these strategies to different levels of development using Prahalad and Hart’s BOP framework.

This study examines the underlying drivers of sustained high-performance companies based on field studies from an initial set of 105,260 BRIC companies and close to 500 companies in ASEAN. The methods employed four screening tests to arrive at a selection of the highest-performing firms: 70 firms in the BRIC nations and 58 firms from ASEAN. Following the selection, the authors constructed cases using primary interviews and secondary data, with the assistance of Ernst & Young and with academic colleagues in Manila. These studies were originally conducted in two separate time periods and reported accordingly. This paper synthesizes the findings of these two studies to arrive at an extended integrative framework.

From the cases, the authors examine six strategies for building and sustaining legacy that lead to high performance over time: overcoming institutional voids, creating inclusive markets, deepening localization, nurturing government support, building core competencies and harnessing human capital. To address the evolving state of institutional voids in these countries, the authors employ similar methods to hypothesize the placement of these strategies in the context of the world economic pyramid, initially formulated as the “bottom of the pyramid” framework.

This paper synthesizes and extends the authors’ previous works by proposing the concept of legacy to describe the emergence and succession of local exemplary firms in emerging markets. This study aims to complement extant measures of nation-growth based primarily on GDP. The paper also extends the literature on institutional voids in shifting the focus from the mix of voids to their evolving state. Altogether, the paper provides a complementary narrative on assessing the market potential of emerging markets by adopting several categories of performance.

The study reveals how the role of the largest cities – regional capitals in the urban settlement system – and the economy of the country changed during the period of social and economic transformations at the turn of the twentieth and twenty-first centuries. The object of the study is the largest cities with a population of over 1 million people, the administrative centers of the regions. Unlike Moscow and St. Petersburg, these are administrative centers or “capitals” of large territories that have the status of a constituent entity of the Russian Federation. The authors emphasize the special role of cities – regional capitals in post-socialist and developing countries – where there are significant and rapid changes in the distribution of functions between the center and the regions. At the same time, cities – regional capitals – are not considered as isolated objects, but as elements of a national settlement system, the leaders among Russian second-tier cities. The common features of the evolution of the largest regional capitals, the continuity of the factors of city formation, are revealed. Considerable attention is paid to assessing the consequences of the collapse of the Soviet Union for the development of the urban settlement system. It was concluded that the “compensatory” nature of the accelerated growth of the largest regional capitals in post-Soviet Russia. “Compensatory” growth is considered as a form of adaptation of the urban settlement system to the weakening of links between its essential links. A methodical approach is proposed that allows a comparative analysis of the role of the largest regional capitals and the capital of the state in the economy of the country. In the process of testing it, an assessment was made of population dynamics, as well as key economic indicators, such as the volume of products shipped, retail turnover, investments, the volume of work in the construction of major regional pages, as well as Moscow and St. Petersburg. The evaluation results allowed the classification of the largest regional capitals in terms of their role in the economic development of the country, as well as in terms of the extent of the gap between the indicators; on the one hand, the largest regional capitals, and on the other, Moscow and St. Petersburg.

Does a village’s location in a regional economic system predict the extent to which close interpersonal relationships are based on socioeconomic similarity? A comparison of sample social networks of four frontier villages in northwest Ecuador showed that village centrality influences the dominant types of social relationships and, thus, the differential tendencies for socioeconomic differentiation. Compared to residents in peripheral villages, those in central ones were more likely to name individuals of their own class and to note mutual relations in their social networks.

Shanghai is currently faced with a rapid increase in the ageing population and demand for elderly homes. Continuing care retirement community (CCRC) has been emerging as a high-end alternative to offer specialised accommodation to the elderly in major cities. Since the first development in 2008, the industry is now still at the infancy stage. This study aims to examine the investment barriers hindering the supply and demand of CCRCs with an aim to recommend practical and senior housing policy measures to facilitate CCRC developments.

Multiple-case study method was used to confirm whether the literature findings on investment barriers apply to the context of Shanghai. Four representative CCRC development cases in Shanghai were examined, in which qualitative data were collected from interviews with experienced CCRC development managers and quantitative data from a questionnaire survey of the CCRC residents.

Operation management experience, financial risks and government support policy were found to be the main supply barriers. Chinese traditional family-oriented culture and affordability were not the main demand barriers of CCRCs in Shanghai. Poor quality of services and living environment were identified as the main barriers suppressing the demand for CCRC.

Although common trends and views can be drawn from the representative cases in Shanghai to provide valid results, further research should be conducted on other major cities in China so that the results can be widely applied.

Successful CCRC investment strategy should focus on partnering with experienced professional eldercare management companies, provisions of high-quality medical professionals and trained care personnel and delivery of flexible care service, along with intensive capital flows for land, construction and operating costs.

Additional senior housing policy support should be established to promote the CCRC supply to address the ageing needs, particularly granting lands for CCRC developments at Tiers 1 and 2 major cities where the land cost is high.

This research’s practical and policy measures can be applied to enable and promote CCRC developments in Shanghai, thus benefitting both housing investors and the government. The findings also form a baseline for CCRC developments in other major cities.

This study aims to analyze the emergence of a new structural configuration of globalization, with the 2008 global financial crisis serving as the first symptom of this change. By introducing the “Evolutionary Structural Triptych” (EST), this research seeks to understand the basic components of the new evolutionary trajectory of global capitalism post-2008. The study places emphasis on its interdependent and coevolving economic, political and technological dynamic facets.

This research introduces the EST framework, critically contrasting it with conventional understandings in international political economy (IPE) to provide a comprehensive and structured analysis of global developments after 2008. It traces the phases of global capitalism since Second World War, examines the central dynamic dimensions during each evolutionary phase, identifies the basic patterns and delves into the foundational elements of the emerging era of globalization.

The analysis reveals three key findings. First, the emerging restructured globalization indicates a need for a new balance in the contemporary world system; however, this balance cannot be achieved within the architecture of the old system. Second, the new era of globalization necessitates a re-equilibrated approach across different dimensions of geopolitical stability, economic development and innovation. This approach should emphasize sustainability, adaptability, resilience and inclusivity and lean toward responsible, open and organic innovation models for a revamped global structure. Third, while many current IPE theories tend to compartmentalize aspects of the new globalization, the EST advocates for a holistic perspective that integrates politics, economics and technology within the framework of global trends. This perspective bridges existing gaps and offers actionable insights for a dynamic and inclusive global future.

The paper presents the EST as a novel analytical instrument in the realm of the modern IPE. This tool uniquely places technology and innovation at the forefront, parallel to economic and political spheres, to comprehend the progression of globalization. In doing so, it highlights the intertwined relationship of these structural dimensions in shaping the future of the subject of the IPE.

In light of the rapid evolution of information and communication technology (ICT), every society is faced with many issues such as social exclusion, inequality and the digital divide. Hence, there is need to solve these complex challenges without comprising any development objective. A practical solution in this regard includes establishment of a sustainable model of community development. Therefore, this paper aims to identify the role of education in promoting the awareness on the use of ICT-based infrastructure among the general public to enhance their socioeconomic status. In addition, this study sets out to establish the nexus between socioeconomic status, ICT programme as well as the awareness of Kemaman Smart Community (KSC) development project.

This paper adopted a quantitative approach based on data collected through a survey on information literacy in KSC. The logit behavioural model and structural equation model were adopted as a quantitative technique to verify the objective of the study.

The result of the logit behavioural model showed that education, income and age have a positive impact on the KSC programme awareness. The SEM models revealed that income level and education (especially at the tertiary level) significantly enhance the awareness of KSC project. On the contrary, poverty remains regressive towards the community awareness of KSC programmess

Information literacy and knowledge-based programme promote a more inclusive development approach. Moreover, education, socioeconomic status, information literacy and knowledge-based programme are essential to develop a smart community towards achieving a high-income nation status. Future replication of smart community project in other parts of Malaysia may need to consider these factors for a comprehensive community development strategy.

KSC is the first smart city initiative by the government of Malaysia. Besides, primary data were used in this study. The findings of the study will provide academics and policymakers a better understanding of the smart city initiative.

This paper aims to examine the unique Chinese context by analyzing the city labels (e.g. smart city and eco city) used by Chinese local governments at or above the provincial capital level to represent themselves (adopted city labels) and the developmental pathways they actually pursued (adopted developmental pathways).

The authors compared the city brand choices to those anticipated based on their geographic and economic contexts (predicted city labels and developmental pathways) as well as the directives outlined in national planning documents (imposed city labels and developmental pathways). The authors identified ten main categories of city labels used to designate themselves and establish the frequency of their use based on municipal plan documents, economic and geographic data and national plan documents and policy reports, respectively.

The authors discovered that both local economic development and geographic factors, as well as top-down administrative influences, significantly impact city branding strategies in the 38 Chinese cities studied. When these models fall short in predicting adopted city labels and pathways, it is often because cities favor a service-oriented reputation over a manufacturing-focused one, and they prefer diverse, multifaceted industrial images to uniform ones.

The originality and value of this paper lie in its contribution to the academic literature on city branding by developing a predictive model for brand development at the municipal level, with explicit attention to the national-local nexus. The paper’s approach differs from existing research in the first cluster of city branding by not addressing issues of stakeholder involvement or adoption and implementation processes. Additionally, the paper’s focus on the political power dynamics at the national level and urban governance details at the municipal level provides a unique perspective on the topic. Overall, this paper provides a valuable contribution to the field of city branding by expanding the understanding of brand development and its impact on the socioeconomic environment.

The existence of disadvantaged sub-populations whose talents are under-leveraged is a problem faced by developing and developed countries alike. Life history data revealed that a large proportion of elite business leaders in the Caribbean emerged from childhood poverty (families subsisting on US$1-2 a day, 40 percent). The purpose of this paper is to examine the key factors supporting the career development of elite leaders from a broad socioeconomic spectrum and both genders in order to build a model of career development for elite leadership.

Data were collected via in-depth interviews from a deliberately gender-balanced sample of 39 male and 39 female elite business leaders. Thematic analysis identified consistencies across independent interviews and resulted in a model identifying factors supporting pre-career development as key to eventual attainment of elite leadership.

Findings indicated that in childhood and youth, proactivity plus talent recognition and mentoring by adults enhanced access to early developmental opportunities. Early career mentoring guided talented youth to build personal drive, self-esteem, altruism, and integrity, which created a foundation for developing career capital through values-based action. Altogether, these findings indicate the importance of pre-career relational capital to attainment of elite career success.

Difficult-to-access elite leaders provided rich information emphasizing the importance of pre-career development in childhood and youth to eventual elite leadership attainment. Virtually all of the elites in the sample remember being identified as talented early in life and consider early messages about drive to achieve as well as support received from parents, teachers, and other interested adults to be critical to their success. Hence, a process of talent recognition and encouragement to excel appear to be crucial for connecting young people to important relational capital allowing them to eventually achieve elite status, particularly those individuals hailing from disadvantaged backgrounds.

The purpose of this study is to show how the presence of change caused a shift in the roles and responsibilities of the internal audit function (IAF).

The methodological design/approach was constructed by combining specific aspects of widely known management accounting and organizational change frameworks. The theoretical premise was based on the old institutional economics component of institutional theory. As such, this study used the case study method to examine and analyze the impact of this change in eight specific organizations using the new two-tiered organizational change framework.

This new framework analyzes the multidimensional facets of organizational change in the IAF. From the findings, it was observed that the change can be evolutionary, episodic, continuous and/or teleological, and people, organisms and organizations that are subject to it will react or respond to that change in a myriad of ways.

Moreover, the implications of change can be environmental, socioeconomic and political.

This study makes an intellectual contribution by introducing a new two-tiered organizational change framework to explain the IAF’s response to the environmental change factor of regulation.