Search results

The regularity of default by countries on their sovereign debt has led to the establishment of a number of evolving institutions or “Clubs”. These institutions' objective is to optimise the impact of imminent default or actual default on both international lending and borrowing. The purpose of this article is to discuss the informal institutions concerned with managing debt between national governments – the Paris Club, between governments and commercial banks – the London Club – and the currently ad hoc dealings with sovereign bonds.

The Clubs' changing approaches through the increasing depth and number of international financial crises from the Latin American debt crises of the 1980s, the Asian financial crisis of the late 1990s and the circumstances of the ex‐Soviet economies, plus the ongoing debt sub‐Saharan African debt crisis are discussed.

The shifts in the principles underlying the debt management system are manifest by the changing content of reschedulings, from simply deferring payments to actual reduction in their present value.

The functioning of principles of comparable treatment of all creditors are discussed with respect to the growing need for a body representing bondholders' interests.

The paper highlights the IMF's multiple and sometimes conflicting roles in the international financial system.

Purpose – By exploring what Corporate Social Responsibility (CSR) is not, its opposite termed Corporate Social Irresponsibility (CSI), we raise understanding and focus awareness on the material differences and associated arguments for and against.

Approach – Background, context, and theory introduce the concept of a continuum between CSI and CSR, which is illustrated in a progression of graphic figures.

Findings – Focus on the affirmation of CSR has distracted attention and resources from a more addressable concern: identification and denunciation of antisocial business behavior. Focusing instead on the opposite, defined here as CSI, avoids much of the ambiguity of CSR and presents a clarifying continuum between the two.

Originality – Using engaging logic, uncommon connections are made between such erstwhile polar-opposites as Friedman and Carroll to reveal broad agreement that CSI is destructive and can be universally opposed.

Implications – While promotion of CSR remains contentious, a broader range of business and thought leaders can find common ground by focusing on the CSI side of the continuum and uniting against it. Practitioners, academicians, and activists alike can agree that social benefits are greater from focusing on reduction of CSI rather than on promotion of CSR.

The paper investigates the mediation role of external integration in the relationship between internal integration and small and medium enterprises (SMEs) performance. Information and communication technology (ICT) was used to moderate the relationship between internal and external, and external integration and SMEs performance.

Cross sectional method was used to distribute questionnaires to owners of SMEs in Abossey Okai business enclave to assess the various dimensions in the study. Structural equation modeling was employed to assess the relationship among the dimensions, based on 163 validated questionnaires. Analysis of Moment Structures (Amos) and Statistical Package for Social Sciences (SPSS) were used in analyzing the data.

The results indicate that, external integration mediated the relationship between internal integration and SMEs performance. In addition, ICT had positive moderating effect in the relationship between internal and external integration, and external integration and SMEs performance.

Practically, this research informs owners and managers of SMEs to appreciate the importance of developing internal structures of a firm and further linking their operations with external partners. Additionally, findings will aid managers’ and owners’ leverage on ICT capabilities to enhance performance in their operations.

Engaging external integration to mediate the relationship between internal integration and SMEs performance and extending the relationship to include moderating role of ICT in both relationship that is internal and external integration on one side, and external and firm performance, the current study contributes to supply chain integration (SCI) and ICT available literature.