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1 – 10 of over 4000Under the circumstance that the development of developing countries is a major issue that has long been of concern to Marxist scholars, the research is focused on the category of…
Abstract
Purpose
Under the circumstance that the development of developing countries is a major issue that has long been of concern to Marxist scholars, the research is focused on the category of development benefit, which Xi Jinping has mentioned many times.
Design/methodology/approach
Based on the Marxist theory of international value, the authors of this paper indicate that development benefit is the result of developing countries' consistently increasing labor productivity, reducing squandering in labor and transforming more labor into real value, and thus the fundamental cause of unequal development in international economics turns from the field of circulation to the area of production.
Findings
Also, the authors summarize China's experience of obtaining the development benefit and China's development path featuring common development and criticized the comparative advantage of mainstream Western economics, revealed the path of dependency development represented by mainstream Western economics.
Originality/value
Finally, the authors analyze the essence of the economy and trade conflict between China and the US and the respective strategic goals of the two countries and provide an outlook on the contest between the two roads of development and the evolutionary trend of the relationship between developed and developing countries.
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Ariful Islam, Sazali Abd Wahab and Ahmad Shaharudin Abdul Latiff
Small and medium-sized firms (SMEs) are typically reported to have a limited interest in broader societal concerns across the world. As a result, the…
Abstract
Purpose
Small and medium-sized firms (SMEs) are typically reported to have a limited interest in broader societal concerns across the world. As a result, the purpose of this study is to develop a model of SME’s strategic philanthropic performance in light of the societal reactions to the COVID-19 issue, particularly in terms of the intervention of corporate spirituality and the solid regulatory motive behind these.
Design/methodology/approach
A systematic mixed review analysis has been executed to analyze the strategic philanthropic performance configuration triggered by the recent COVID-19 crisis, in which over 369 publications are read and reviewed by the authors. It has also established the reliability and validity of literature analysis. Also besides, a short form of qualitative investigation has been used to support the direction of the study.
Findings
Through regulatory adjustments, the study's findings effectively developed a strategic philanthropic performance configuration for SMEs. In this case, the strategic philanthropic convergence of corporate giving, corporate volunteering, corporate foundation and food bank has the potential to help SMEs thrive in the long run. The study also discovers that corporate spirituality might potentially mediate between appropriate regulations and strategic philanthropic performance of SMEs in the context of a supportive external environment.
Research limitations/implications
Prior empirical attempts are subsequently required to inquiry about the proposed conceptualization from different perspectives.
Practical implications
The decision-makers of SMEs, with the efficient implementation of the proposed outline, will use the understanding given for their required actions to develop the competitive advantage in terms of social concerns. On this note, the outcomes of the study can also enhance business differentiation and competitiveness. It can also serve as a strategic guideline for firms to develop organizational values for long-term survival.
Social implications
In the COVID-19 reality, SMEs will contribute to the concerns through philanthropy activities that are better suited for both enhanced social good and greater corporate advantages. The idea can also serve as a basis for SMEs to accomplish the Sustainable Development Goals (SDGs).
Originality/value
To the best of the authors' knowledge, this is the first research that conceptualizes the influence of government regulation on the strategic philanthropic performance of SMEs while taking corporate spirituality into account in order to survive the COVID-19 crisis.
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Francesca Rossignoli, Riccardo Stacchezzini and Alessandro Lai
Given the limited studies that have started to focus on contexts where integrated reporting (IR) is voluntarily adopted, this paper aims to explore the moderating role of…
Abstract
Purpose
Given the limited studies that have started to focus on contexts where integrated reporting (IR) is voluntarily adopted, this paper aims to explore the moderating role of institutional characteristics on the association between voluntary report release and analyst forecast accuracy.
Design/methodology/approach
This study uses a quantitative empirical research method grounded on voluntary disclosure theory to provide empirical evidence on an international sample of companies choosing to release integrated reports. Preliminarily, a cluster analysis is used to group countries according to institutional patterns. Multivariate analyses detect the associations between report release choice and analysts’ forecast accuracy across clusters. Multiple econometric approaches are used to address the endogeneity concerns.
Findings
IR release is not informative for the market unless considering systematic variations across different institutional settings. Analysts’ forecast is more accurate for IR adopters located in strong institutional enforcement settings than for all the other companies. In the strong institutional setting that is also characterized by a pluralistic society, IR release benefits for the market are conditioned by the fact that the choice to release IR depends on environmental, governance and social disclosure-based managers remuneration and disclosure requirements. In weak institutional settings, IR release is not beneficial for the forecast accuracy.
Research limitations/implications
Academics and practitioners can gain understanding of the usefulness of voluntary IR across different institutional settings.
Originality/value
The study advances the understanding of the IR’s informativeness, overcoming the common dichotomous distinctions between strong and weak institutional settings.
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Francesca Rossignoli, Riccardo Stacchezzini and Alessandro Lai
European countries are likely to increasingly adopt integrated reporting (IR) voluntarily, after the 2014/95/EU Directive is revised and other initiatives are implemented…
Abstract
Purpose
European countries are likely to increasingly adopt integrated reporting (IR) voluntarily, after the 2014/95/EU Directive is revised and other initiatives are implemented. Therefore, the present study provides insights on the relevance of IR in voluntary contexts by exploring analysts' reactions to the release of integrated reports in diverse institutional settings.
Design/methodology/approach
Drawing on voluntary disclosure theory, a quantitative empirical research method is used to explore the moderating role of country-level institutional characteristics on the associations between voluntary IR release and analyst forecast accuracy and dispersion.
Findings
IR informativeness is not uniform in the voluntary context and institutional settings play a moderating role. IR release is associated with increased consensus among analyst forecasts. However, in countries with weak institutional enforcement, a reverse association is detected, indicating that analysts rely largely on IR where the institutional setting strongly protects investors. Although a strong institutional setting boosts the IR release usefulness in terms of accuracy, it creates noise in analyst consensus.
Research limitations/implications
Academics can appreciate the usefulness of voluntary IR across the institutional enforcement contexts.
Practical implications
Managers can use these findings to understand opportunities offered by IR voluntary release. The study recommends that policymakers, standard setters and regulators strengthen the institutional enforcement of sustainability disclosure.
Originality/value
This study is a unique contribution to recent calls for research on the effects of nonfinancial disclosure regulation and on IR “impacts”. It shows on the international scale that IR usefulness for analysts is moderated by institutional patterns, not country-level institutional characteristics.
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It is scholars' great mission in this era to creatively develop new implications, paradigms and discourses of China's political economy and establish a theoretical system of…
Abstract
Purpose
It is scholars' great mission in this era to creatively develop new implications, paradigms and discourses of China's political economy and establish a theoretical system of political economy with Chinese characteristics based on the fundamental principles of Marxist theory and the practice and historical process of Chinese economic reform, through theorizing and systemizing the practices of China's socialist market economy construction. The purpose of this paper is to give some suggestions to establish a socialist theoretical system with Chinese characteristics.
Design/methodology/approach
This paper makes a comprehensive analysis of the principles, objectives, study objects, methodologies as well as the framework of the theoretical system of the political economy with Chinese characteristics.
Findings
Additionally, starting from the unity of opposites between public ownership of resources and resource allocation in a market mechanism, which is the fundamental dialectical relation of China's socialist market economy, the authors will adopt the dual dialectical analysis approach to discover and understand the duality features of the socialist economic system with Chinese characteristics.
Originality/value
With adherence to the mission of China's socialist economic system, the goal of China's market economic reform, and the perspectives of Marxist political economy, the authors must explicitly define the so-called Chinese characteristics and then summarize the dynamics and innovations during the evolution of Chinese socialist political economy with high theory confidence and theory self-consciousness.
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Muhammad Tariq Majeed and Abida Zainab
In recent years, the fast growth of Islamic banks (IBs) has generated debates among policymakers and economists about the sustainability and performance of these institutions…
Abstract
Purpose
In recent years, the fast growth of Islamic banks (IBs) has generated debates among policymakers and economists about the sustainability and performance of these institutions. This paper aims to undertake a comparative analysis of the financial performance of IBs and conventional banks (CBs) in Pakistan over the period 2008–2019 to evaluate how IBs are faring compared to their conventional peers.
Design/methodology/approach
This paper considers Financial Ratio Analysis (FRA) to analyse and compare the performance of the top-10 IBs and CBs operating in Pakistan. The sample includes five full-fledged IBs and five CBs which offer Islamic windows in Pakistan. The top-five performing CBs offering Islamic windows have been selected in this study.
Findings
The results show that IBs are better capitalized, less risky and have higher liquidity as compared to CBs. In contrast, the profits of IBs are found to be lower than those of CBs.
Research limitations/implications
The study has provided an analysis of financial performance only for Pakistan. A cross-country analysis could be more representative of the performance of IBs.
Practical implications
The study infers that the size of the Islamic banking industry in Pakistan should be enhanced by opening new branches and promoting Islamic financial literacy.
Originality/value
The study assists investors, creditors, debtors and managers in making better decisions. It also provides the latest valuable information to regulators and policymakers that can be used to make rules and policies for the finance industry in Pakistan.
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The purpose of this paper is to lay down the methodological structure of the epistemology of tawhid (Oneness of Allah). In this paper, the meaning of tawhid also refers to the…
Abstract
Purpose
The purpose of this paper is to lay down the methodological structure of the epistemology of tawhid (Oneness of Allah). In this paper, the meaning of tawhid also refers to the monotheistic unity of knowledge (consilience) in the cast of its organic pairing by circular causation relations between the moral and material possibilities. The paper thereby raises the critique of mainstream economic reasoning and its imitation by existing Islamic economics. Consequently, by the ontological, epistemological and phenomenological foundation of tawhidi methodological worldview, an altogether new socio-scientific reasoning in generality and economic reasoning in particular is introduced.
Design/methodology/approach
The socio-scientific methodological reasoning of unity of knowledge according to the tawhidi methodological worldview is introduced contrary to the inept rational choice postulates of mainstream economic reasoning and its imitation by existing notions of Islamic economics. The method of instructing students in the light of this approach according to Tawhidi Islamic Economics (TIE) is introduced from the existing literature.
Findings
The existing nature of mainstream economics and its imitation by Islamic economics is critically deconstructed and replaced by the true epistemological, ontological and phenomenological perspectives of TIE in the world of learning. Some inner properties of such a methodological study of TIE are laid bare for further investigation.
Originality/value
This is the first paper of its kind in this journal to expound the original and most creative methodological worldview that Islamic economics must bear. This is the foundation of the development of the true stance of Islamic economics and finance.
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Jung Taik Hyun and Moon Joong Tcha
China has been the most important economic partner to Korea since the resurrection of their diplomatic relationship and economic interaction. It has been suggested that China…
Abstract
China has been the most important economic partner to Korea since the resurrection of their diplomatic relationship and economic interaction. It has been suggested that China simultaneously presents challenges and opportunities to the Korean economy. This paper investigates changes in trade specialization patterns and comparative advantage of Korea and China, and analyzes the effect of market expansion of Chinese industries on market shares of Korean industries. It is found that since the early 1990s, the industries that lost market share as China’s share increased include those in which Korea has maintained a comparative advantage or improved the level of disadvantage, such as IT equipment and other transport equipments. Considering growth of trade flows and emergence of China, it is critical for Korea to actively participate in international production chains, create competitive edges and extend complementary relationship with trading partners.
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Tomaž Čater, Barbara Čater, Matej Černe, Matjaž Koman and Tjaša Redek
The paper aims to contribute to a better understanding of the drivers for the use of Industry 4.0 technologies by investigating (1) what motivates companies to consider using I4…
Abstract
Purpose
The paper aims to contribute to a better understanding of the drivers for the use of Industry 4.0 technologies by investigating (1) what motivates companies to consider using I4 technologies and (2) what enables (or hinders) the intention to use I4 technologies to translate into their actual use.
Design/methodology/approach
The study uses survey data collected from a sample of export-oriented manufacturing companies with more than 10 employees. Final analysis is conducted on 124 companies.
Findings
The results show that companies are proactively approaching I4. Only efficiency motives and expected competitive advantage have a positive effect on the intention to use I4 technologies, which in turn positively influences their actual use. The external, legitimacy-based, motives do not play a significant role in explaining the intention to use. With respect to I4 technology enablers, employee competency positively moderates and availability of finance negatively moderates the relationship between intention to use and actual use.
Research limitations/implications
The work extends the existing knowledge base on I4 technology drivers in companies that are not major global trendsetters but are heavily embedded in the value chains of companies from the most industrially developed economies. The study is limited to manufacturing companies in a small European economy and should be retested in other contexts.
Practical implications
The study can help managers implement I4 technologies in their companies more successfully.
Originality/value
We take a novel research approach by proposing a framework that clearly distinguishes between motives and enablers for the use of I4 technologies.
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This paper examines the relationship between transport connectivity and regional economic development in China. It develops measurements appropriate for transport connectivity…
Abstract
This paper examines the relationship between transport connectivity and regional economic development in China. It develops measurements appropriate for transport connectivity based on a set of evaluation models. This model is used to analyze the logistic connectivity of China’s 31 provinces by focusing on 11 variables, including some new factors (Density of road network, Density of railway network, Number of Internet Users) not used in previous studies, over the 13-year period from 2002 to 2014. Using panel data regression analysis, the empirical results show a statistically significant and positive impact of transport connectivity (factors like Density of road network, Density of railway network and Number of Internet Users) on economic development in China. In particular, the Number of internet users is a key factor reflecting information connectivity in all the variables. Comparative analysis regarding economic development is conducted to benchmark between coastal provinces and interior provinces. Like most previous research, this study yields the same finding of higher impact of transport connectivity on economic development in eastern provinces than in western provinces. This study suggests that decentralized decision-making will be significantly more efficient for analyzing regional infrastructure development. It also shows that the influence of transport connectivity on economic development is dependent on a certain developmental stage. This suggests that an economic region should adopt different development strategies for transport connectivity during different stages of development.
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