Search results

What differentiates US capitalism from all other forms of industrial capitalism is its historical focus on both the creation of wealth (entrepreneurship) and the reconstitution of wealth (philanthropy). Philanthropy is part of the implicit social contract that continuously nurtures and revitalizes economic prosperity. Much of the new wealth created historically has been given back to the community, to build up the great social institutions that have a positive feedback on future economic growth. This entrepreneurship‐philanthropy nexus has not been fully explored by either economists or the general public. The purpose of this paper is to suggest that US philanthropists – especially those who have made their own fortunes – create foundations that, in turn, contribute to greater and more widespread economic prosperity through knowledge creation. If we do not analyze philanthropy we can understand neither how economic development occurred nor what accounts for US economic dominance.

The purpose of this research is to study the impact of divestitures on shareholder wealth. This study covers selloffs of publicly traded companies in Germany, Austria and Switzerland (DACH region) during the period 2002–2018. It aims to understand the overall effect of selloffs on shareholder wealth as well as the impact of important influencing factors.

This study is part of capital market studies which investigate shareholder wealth effects (abnormal returns) using event study methodology. To determine the significance of abnormal returns, a standardized cross-sectional test as suggested by Boehmer et al. (1991) was applied. The sample consists of 393 selloffs of publicly traded companies with a deal value of at least EUR 10m.

The findings confirm the overall positive impact of selloffs on shareholder wealth. The average abnormal return on the announcement day of the sample companies amounts to 1.33%. The type of buyer, the relative size of the transaction as well as the financial situation of the seller in particular seem to influence abnormal returns positively.

This study investigates shareholder wealth creation through selloffs in the DACH region, a largely neglected region in divestiture research, but now very relevant due to increasing pressure of active foreign investors. Sophisticated statistical methods were used to generate robust findings, which are in line with the results of similar studies for the US and the UK.

Industry′s claim to create wealth serves to legitimize the independence of its policies and actions. Yet such a creation process is delusory in an interdependent and indeterminate world grounded in quantum physics, ecology and chaos theory. Contemporary corporate annual reports are prepared from the perspective of discrete industrial entities driven by the dynamic of unlimited growth. Most pressures being applied to change these reports seek merely to complicate, by adding information, rather than to revise by removing organizational boundaries and restating core beliefs. Recent corporate environmental reports, for example, confuse and are of limited use to company analysts; they do little to aid the fundamental transition to sustainable industry. However, a conception of industry as a wealth appropriator within the ecosphere can help, and this understanding gives rise to a new direction for accounting, auditing and environmental reporting. Examples of first steps taken by Denmark in this new direction are given.

Puts forward the view that the creative and innovative process with which wealth is created should also belong to the innovators, not just the financial investors. Innovation processes primarily arise from the hearts of the innovators, who over the years have not been adequately compensated in terms of share ownership, and only in recent years the influx of stock options to these generators of growth and wealth has been seen as one means of making up for that difference. In entrepreneurial firms this arrangement is well understood and the founder‐entrepreneur is compensated with stocks. As the organizations become larger, this innovative perspective begins to dissipate, to the extent that one forgets to pay attention and identify innovators in one’s organization, who have been innovating products to meet the demands of the market and, in turn, allow the organization to continue for another day. As a result, it has been forgotten that one key role of the board of directors should be the harnessing of the innovative energies in the workforce, such that wealth can continue to be created. Presents a perspective with regard to innovation and how, by rewarding and tightening the link between innovation and share ownership, one is in fact rewarding the creation of wealth, particularly in this ever‐changing knowledge economy.

The purposes of this conceptual paper are fivefold: first, to present a resource definition of care in work organizations that allows business and its managers to reconnect human wealth with social progress and economic wealth in order to create a responsible, sustainable, and healthy world; second, to examine the sociological and feminist origins of care; third, to discuss identifiable qualities of care; also, to compare and contrast care with the knowledge resource; and then, to identify future research directions for care.

Theory development and literature review were carried out to present a conceptual definition of care.

A definition of care is proposed: care is a universal construct and is inherent in all human beings; care is the core foundation, the core energy, of all human activity, work, and interaction; care may be seen as a socioeconomic resource that acts similar to the knowledge resource and may be built into organizational strategy, management, and leadership and serves as a measurable and trainable managerial capability; and care comprises identifiable qualities in individual, relational, and managerial decision‐making categories. This definition has important cross‐cultural implications and is valid for any culture, team, and organization.

This paper is conceptual in nature and lays the foundation for further research, which is outlined in the discussion. Follow‐on work should include case studies and other qualitative research methods as well as quantitative research methods to substantiate the definition with evidence.

In this paper, the author proposes that care lies at the core of being human. Care energizes all human work activity and may be employed by leaders, managers, and strategists across all organizations and cultures to maximize human potential, integrate care with the wealth creation process, and create healthy, sustainable organizations. Care is proposed as a driver for economic success and human well‐being that can give rise to the next major transformation in business and thinking. The proposed care definition, and especially, its comparison to the knowledge resource, offers scholars and practitioners a new orientation to apply to the value creation process in organizations. Care can be seen as an essential aspect of management practice, organizational strategy, and socioeconomic transformation.

This paper offers a unique and profound definition of care. Care has never been studied or examined in terms of energy or socioeconomic resource before. It leverages the definition of care associated with ethics of care research and provides a broader and deeper means to energize and transform work environments, management practice, and organizational strategy.

The Asian business community has been noted for its contribution to the UK economy. This vibrant sector of the small to medium‐sized enterprises population serves to illustrate diversity in terms of spanning sectors including manufacturing and services, entertainment and fashion, hotels and property, food and pharmaceuticals. This paper seeks to draw out trends within this increasingly important sector of the economy.

The study reports on a research project which comprises the latest phase in a seven‐year, longitudinal study of the richest 200 Asian business people in the UK.

The analysis suggests that the Asian business community has delivered significant and sustained growth which is higher than average growth in the UK.

For policy makers and the business support community, this paper offers a greater understanding of the dynamics behind the success stories and thus offers opportunities to tailor any engagement with this community appropriately. For academics it adds to the growing literature of minority ethnic businesses in the UK.

Entrepreneurship development in Nigeria requires the adoption and assimilation of enterprise development models from nations with replicable success stories. Technology incubation centre (TIC) is one of the potent mechanisms that launched the “BRIC nations” – Brazil, Russia, India and China – to global prominence as the five biggest emerging economies. This paper attempts to unveil the potentials of TICs as novel tools for entrepreneurship development and actualisation of the Vision 20:2020 in Nigeria.

The authors adopt analytical and discursive approaches using qualitative and quantitative data sourced from Industrial policy documents, Goldman Sachs report, online databases of government agencies, Vision 20:2020 policy document and published articles on the subject matter. The generated data were subjected to content and thematic analyses, on the basis of which relevant conclusions were drawn.

The findings from the research indicate that there are 37 TICs in Nigeria with very weak socio-economic impact on job creation, wealth creation and industrial development in Nigeria. However, for the BRIC nations, adopted as comparative models, TICs have impacted positively on job creation, wealth creation and economic development of the five nations.

The paper is essentially discursive and subjective. Further research on this subject matter should explore empirical analysis for an objective assessment of the situation.

This paper underscores the need for harmonisation of policy objectives with policy implementation. At present, there are gaps between TIC policy objectives and woeful performance of the 37 TICs in Nigeria.

For Nigeria, to enhance job creation, wealth creation and economic development in the society, there is the need for functional TICs at local, institutional, regional, state and national levels.

The paper unveils the gap between economic theory and practical model implementation in developing economy (Nigeria). It is a major contribution to the functionalist and structuralist debates on why policies fail.

Global entrepreneurship may be defined to be the creation of new, value-adding transactions or transaction streams anywhere on the globe. The objective of this chapter is to present and examine a theory of global entrepreneurship. At the World Economic Forum held in Davos, Switzerland, in January 1999, UN Secretary General Kofi Annan called for global entrepreneurship to meet the needs of the disadvantaged and the requirements of future generations. This chapter first presents a transaction cognition theory of global entrepreneurship that is intended as a path for research that responds to this call. Second, this chapter examines the theory from three critical viewpoints: (1) capability for explanation; (2) theoretical and operational utility; and (3) verifiability through the logic of scientific inference, and presents likely propositions that are surfaced by the analysis. Finally in this chapter, some of the likely implications of this theory within the context of globalization are discussed.

The purpose of this paper is to offer a personal critical reflection on the future of intellectual capital (IC) based on my experience as an IC researcher, author, editor, teacher and practitioner.

Offers a first-hand reflection on the future of IC, using evidence collected from IC in the field and the author’s personal reflections.

I argue that the authors need to abandon reporting and instead concentrate on how an organisation discloses what “was previously secret or unknown”, so that all stakeholders understand how an organisation takes into consideration ethical, social and environmental impacts in keeping with an eco-systems approach to IC.

While much of the empirical evidence presented in this paper is freely available to all scholars, the interpretation and findings is subjective. Other researchers, given the same opportunity and evidence, may not necessarily make the same conclusions.

We are now on the cusp of the fourth stage of IC research (Dumay, 2013), whereby IC expands its boundaries into the wider eco-system, to “go beyond IC reporting” (Edvinsson, 2013, p. 163).

Offers a critical review of the impact of IC reporting which is relevant to consider because of the newfound resurging interest in IC, based on the current push for integrated reporting ( < IR > ), which arguably contains IC information targeted at investors.