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Transaction cost economics sees a broad spectrum of governance structures spanned by two types of economic adaptation: autonomous and cooperative. Stakeholder theorists have drawn much inspiration from transaction cost economics but have not paid explicit attention to the centrality of the idea of adaptation in this literature. This study aims to address this gap.

The authors develop a novel conceptual framework applying the distinction between the two types of economic adaptation to stakeholder theory.

The authors argue that the idea of cooperative adaptation is particularly useful for describing the firm’s collaboration with primary stakeholders in the joint value creation process. In contrast, autonomous adaptation is more relevant for firms interacting with secondary stakeholders who are not directly engaged in joint value creation and may not have formal contractual relationships with the firm. Accordingly, cooperative adaptation can be seen as vital for resolving team production problems affecting joint value creation, whereas autonomous adaptation addresses how the firm maintains legitimacy within the larger stakeholder environment.

Similar to its significance for transaction cost economics, the distinction between the two types of adaptation equips stakeholder theory with a new systematic understanding of a potentially broad spectrum of firm–stakeholder collaboration forms.

The paper provides a detailed historical account of Douglass C. North's early intellectual contributions and analytical developments in pursuing a Grand Theory for why some countries are rich and others poor.

The author approaches the discussion using a theoretical and historical reconstruction based on published and unpublished materials.

The systematic, continuous and profound attempt to answer the Smithian social coordination problem shaped North's journey from being a young serious Marxist to becoming one of the founders of New Institutional Economics. In the process, he was converted in the early 1950s into a rigid neoclassical economist, being one of the leaders in promoting New Economic History. The success of the cliometric revolution exposed the frailties of the movement itself, namely, the limitations of neoclassical economic theory to explain economic growth and social change. Incorporating transaction costs, the institutional framework in which property rights and contracts are measured, defined and enforced assumes a prominent role in explaining economic performance.

In the early 1970s, North adopted a naive theory of institutions and property rights still grounded in neoclassical assumptions. Institutional and organizational analysis is modeled as a social maximizing efficient equilibrium outcome. However, the increasing tension between the neoclassical theoretical apparatus and its failure to account for contrasting political and institutional structures, diverging economic paths and social change propelled the modification of its assumptions and progressive conceptual innovation. In the later 1970s and early 1980s, North abandoned the efficiency view and gradually became more critical of the objective rationality postulate. In this intellectual movement, North's avant-garde research program contributed significantly to the creation of New Institutional Economics.

After the effective date of International Financial Reporting Standard (IFRS) 15, the accounting treatment of credit card rewards programmes (CCRPs) is no longer explicitly prescribed. Uncertainty regarding what constitutes faithful representation, and the inconsistent accounting practices observed, has created a need for guidance on the appropriate accounting treatment of CCRP transactions. Accounting theory has the potential to provide the foundation for this guidance. As a result, the objective of this study was to develop a theoretical model for the accounting treatment of CCRP transactions using accounting theory.

This non-empirical qualitative conceptual study utilised document analysis, focussing specifically on accounting theory, to construct an accounting treatment model.

Applying the relevant accounting theory (International Accounting Standards Board's (IASB's) Conceptual Framework), a theoretical model for the accounting treatment of CCRP transactions was developed, which emphasises the importance of understanding the economic phenomenon (the CCRP transaction) and determining how management views the transaction (in isolation as marketing or as an integral part of the credit card transaction).

Addressing the problem of accounting for CCRP transactions with reference to accounting theory (which is the main element of scholarly activity in accounting) distinguishes this study from previous research on the topic. The CCRP accounting treatment theoretical model could assist CCRP management in faithfully accounting for a CCRP transaction and reduce uncertainty and inconsistency in practice. Moreover, this study identified the procedures to be employed when using accounting theory to determine the appropriate accounting treatment of business transactions. These procedures could be employed by accountants when faced with other transactions not covered by specific accounting standards.

This study investigates how asset specificity, relational governance and firm adaptability relate with supply chain integration (SCI), considering selected food processing firms (FPFs) in Uganda.

This study applies a quantitative research methodology. This research draws on a sample of 103 FPFs that have been selected from a population of 345 FPFs located in Kampala district. Hypothesis testing was done using Smart PLS version 3.

Asset specificity has a significant positive relationship with SCI, and firm adaptability partially mediates this relationship. Also, there is a full mediation impact of firm adaptability on the relationship between relational governance and SCI.

This study focused on perceptual measures to get responses from managers on the level of integration with key suppliers and customers, yet firms deal with a number of suppliers and customers.

This study contributes to existing literature on SCI by applying the transaction cost theory. The study focuses on the influence of asset specificity, relational governance and firm adaptability on SCI in the food processing sector. Literature on relational governance in supply chain using the transaction cost theory remains scanty. Few studies have also focused on firm adaptability as a mediator in the FPS with specific focus on Uganda, yet the sector is highly faced with uncertain events. The uncertain events in the sector and in developing countries call for adaptive strategies. Additionally, this study is the first to use firm adaptability to mediate the influence of asset specificity and relational governance on SCI more so in a developing country like Uganda where the FPS is one of the most important in the economy.

This paper aims to examine lean thinking in medical commodities supply chains by considering its applications and success factors. It determines the drivers and wastes of medical commodity supply chain, and the existing lean tools and practices together with their application in the supply chain processes. The paper also examined the challenges and success factors for effective lean application in the medical commodities supply chains.

The study used qualitative approaches, in-depth interviews and focus group discussions with key informants to form the basis for data collection. Through thematic analysis, the collected data were analyzed by developing themes reflecting the objectives of the study.

The main drivers for waste associated with the supply chain were demand management, supplier development, institutional framework and governance. The wastes were observed at the level of inventory, operation costs, transaction costs, delays in terms of service, commodity delivery time and quality. Digitalization, information technology and standardization were the tools for medical supply chain. Poor infrastructure, unreliable internet supply, environmental uncertainty and poor management support were challenges to realizing an effective supply chain.

Although the qualitative approach used in the study provides detailed information, a quantitative study covers a larger sample for generalization.

Capacity building and professionalism should be given a priority because the philosophy of lean focuses on waste removal and continuous improvement, which highly depends on the quality of human resource (Brito et al., 2020). Limited human resource capabilities in supply chain management will, therefore, result into poor operational efficiency, which are wasted. Moreover, systems interoperability is key waste minimization and, therefore, demands interventions.

The government under the Ministry of Health and other key sector ministries such as local and regional governments should better understand the role of the waste drivers and adopt system-wide reforms to support improvements to remove waste in the medical supply chain. For example, the current institutional framework creates an administrative block and hence leads to wastes. This bureaucratic procedure should be removed to minimize wastes along the chain.

This study is among the first studies to determine applicability and implementation of lean in a resource-constrained context. The paper identifies contextual factors for lean implementation. This paper focused on a holistic view of the entire supply chains to enhance a well-functioning supply chain in delivering health commodities.

Digital supply chains require nascent technologies like blockchain and Internet of Things (IoT). There is a need to develop a roadmap for the implementation of these technologies, as they require a huge amount of resources and infrastructure. The purpose of this paper is to analyze the challenges of implementing blockchain-IoT integrated architecture in the green supply chain and develop strategies for the same.

After a thorough literature survey of Scopus-indexed journals and books, 37 barriers were identified, which were then brought down to 15 barriers after confirming with industry and academic experts using the Delphi method. Using the total interpretive structural modeling (TISM) method and cross-impact matrix multiplication applied to classification (MICMAC) analysis, the barriers were modeled, and finally, strategies were formulated using a concept map to handle the barriers in the blockchain-IoT integrated architecture for a green supply chain.

This paper presents the research on barriers that can be considered for incorporating blockchain and IoT in the green supply chain. It was found from the TISM model that environmental concerns are Level-1 barriers and need to be addressed by developing appropriate technology and allocating funds for the same. An integrated ecosystem with blockchain and IoT is developed.

The focus of this study was on the challenges of blockchain and IoT; hence, it is required to extend the research and find challenges for different industries and also analyze the criteria using other multi-criteria decision-making (MCDM) methods. Further research is required for the integration of blockchain-IoT with supply chain functions.

The transformation of a traditional supply chain into a green supply chain is possible with the integration of technologies. This research work and the strategies developed are useful to managers and practitioners working on technology implementation. Planning resources and addressing key barriers is possible with the concept maps and architecture developed.

Green supply chain management (SCM) is gaining importance in industry as well as the academic sector due to government Policies and norms worldwide for reducing emissions and encouraging environment-friendly production systems. Incorporating blockchain and IoT in a green supply chain will further digitize and increase transparency in supply chains.

We have done a categorization of all barriers based on the expert survey by academicians and industry experts from industries in India. The concept map helps in identifying possible solutions for the challenges and initiatives to be taken for the smooth integration of technologies in the green supply chain.

The purpose of this paper is to investigate the mediating role of perceived organizational politics on the relationship between electronic human resource management (e-HRM) use and e-HRM macro-level consequences.

The paper uses a cross-sectional survey of HR professionals, line managers and information technology specialists. A purposive stratified sampling technique is employed. The analyses of data make use of regression and process macro in SPSS analysis.

The effect of e-HRM use on e-HRM macro-level consequences is partially mediated by perceived organizational politics.

Organizations can invest in e-HRM use alongside other HR practices such as, emotional intelligence training, to reduce the negative effects of perceived organizational politics and in the process enhance employee attitudes and performance.

The study enriches the scope through which the interaction between e-HRM use and perceived organizational politics is viewed. The study was conducted in Zimbabwe, demonstrating that the indirect effect of e-HRM use on e-HRM macro-level consequences is not limited to developed economies.

The study aims to estimate the short- and long-run effects of monetary policy on residential property prices in South Africa. Over the past decades, there has been a monetary policy shift, from targeting money supply and exchange rate to inflation. The shifts have affected residential property market dynamics.

The Johansen cointegration approach was used to estimate the effects of changes in monetary policy proxies on residential property prices using quarterly data from 1980 to 2022.

Mortgage finance and economic growth have a significant positive long-run effect on residential property prices. The consumer price index, the inflation targeting framework, interest rates and exchange rates have a significant negative long-run effect on residential property prices. The Granger causality test has depicted that exchange rate significantly influences residential property prices in the short run, and interest rates, inflation targeting framework, gross domestic product, money supply consumer price index and exchange rate can quickly return to equilibrium when they are in disequilibrium.

There are limited arguments whether the inflation targeting monetary policy framework in South Africa has prevented residential property market boom and bust scenarios. The study has found that the implementation of inflation targeting framework has successfully reduced booms in residential property prices in South Africa.

A stylized fact in finance literature is the belief in positive relationship between ex ante return and risk. Hence, a rational investor, by utility preference axiom can only consider committing fund in asset which promises commensurate higher return for higher risk. Questions have been asked as to whether this holds true across securities, sectors and markets. Empirical evidence appears less convincing, especially in developing markets. Accordingly, the author investigates the nature of reward for taking risk in the Nigerian Capital Market within the context of individual assets and markets.

The author employed ex post design to collect weekly stock prices of firms listed on the Premium Board of Nigerian Stock Exchange for period 2014–2022 to attempt to answer research questions. Data were analyzed using a unique M Vec TGarch-in-Mean model considered to be robust in handling many assets, and hence portfolio management.

The study found that idea of risk-expected return trade-off is perhaps more general than as depicted by traditional finance literature. The regression revealed that conditional variance and covariance risks reveal minimal or no differences in sign and sizes of coefficients. However, standard errors were also found to be large suggesting somewhat inconclusive evidence of existence of defined incentive structure for taking additional risk in the market.

In terms of choice of methodology and outcomes, this research adds substantial value to body of knowledge. The adapted multivariate model used in this paper is a rare approach especially for management of portfolios in developing markets. Remarkably, the research found empirical evidence that positive risk-expected return trade-off, as known in mainstream literature, is not supported especially using a typical developing country data.

This study aims to investigate the impact of supply chain concentration (SCC) on corporate research and development (R&D) investment and determine the moderating roles of industry concentration and financing constraints on the relationship between SCC and R&D investment.

The study collected data from Chinese listed companies, used the fixed effects model to test the research hypotheses and further used the two-stage Heckman test and propensity score matching (PSM) to address potential endogeneity issues.

The result reveals a negative impact of SCC on corporate R&D investment. In addition, industry concentration mitigates the negative impact of SCC on corporate R&D investment, but financing constraints strengthen the negative impact.

This study introduces the concept of SCC and empirically tests its effect on R&D investment, further explaining the lack of corporate innovation. This study inspires companies to strengthen SC management and weigh the level of SCC with environmental factors.