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Book part
Publication date: 4 July 2019

Aleksei V. Bogoviz, Svetlana V. Belyaeva, Evgeny E. Shvakov, Elena V. Grib and Inna Y. Timofeeva

The purpose of the work is to determine the signs of conflicts in social effects of crises of economic systems and to determine perspectives of studying crises on the…

Abstract

Purpose

The purpose of the work is to determine the signs of conflicts in social effects of crises of economic systems and to determine perspectives of studying crises on the basis of the concept of economic conflicts.

Methodology

For determining the signs of conflicts in social effects of crises of economic systems, this work uses the method of qualitative break-even analysis, the methods of systemic, problem, and structural and functional analysis, and the method of formalization (table presentation of authors’ conclusions).

Conclusions

It is substantiated that social causes and social manifestations and consequences of crises of economic systems have signs of conflicts – violation of balance of socio-economic phenomena and processes and the following negative reaction of economic subjects. Causal connections of distribution of conflicts within social effects of crises of economic systems are determined and a preferable method of their regulation is offered.

Originality/value

A new method of state regulation of socio-economic system for overcoming its crisis and crisis management is offered. An advantage and essential difference of this method from the traditional one is influence on social cause of crisis (not on its economic and social consequences), due to which it is possible to quickly overcome the crisis and reduce the risk of its renewal.

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Book part
Publication date: 4 July 2019

Zinaida N. Kozenko, Yuri A. Kozenko, Konstantin Y. Kozenko and Galina N. Zvereva

The purpose of the chapter is to determine common regularities and peculiarities of the influence of the 2008 crisis on development of socio-economic systems in view of…

Abstract

Purpose

The purpose of the chapter is to determine common regularities and peculiarities of the influence of the 2008 crisis on development of socio-economic systems in view of developed and developing countries.

Methodology

The methodology of this research includes the developed author’s conceptual model of conflict of socio-economic system as an analog of the model of economic cycle. As crisis is a manifestation/example of economic conflict, this model could be used for studying it. Also, the method of comparative analysis is used for comparing the influence of the 2008 crisis on development of socio-economic systems from various categories. The objects of the research are selections of countries according to classification of the International Monetary Fund – leading developed countries (advanced economies) and emerging market and developing economies. The studied indicator is annual growth rate of GDP in constant prices.

Conclusions

Modeling and analysis of the influence of the 2008 crisis on development of socio-economic systems of developed and developing countries are performed, with crisis considered as a wave of economic cycle. Apart from common regularities of the 2008 crisis in socio-economic systems – vivid and short negative reaction and double wave of crisis – we determined peculiarities of influence of this crisis on economies of developed and developing countries. These peculiarities are connected to the fact that the 2008 crisis was deeper in developed countries than in developing countries, but the crisis was developing according to the optimistic scenario (long waves) and was overcome in 2012. In developed countries, the crisis was developing according to the pessimistic scenario (short waves), and negative reaction renewed in 2012, with another one expected in 2021.

Originality/value

It is substantiated that insufficiently intensive and successful management of crisis in developing countries will probably become a cause of increase of differentiation of countries in the global economic system, which is expressed in growth of underrun of developing countries from developed countries.

Details

“Conflict-Free” Socio-Economic Systems
Type: Book
ISBN: 978-1-78769-994-6

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Book part
Publication date: 4 July 2019

Lilia V. Ermolina, Marine M. Manukyan and Ekaterina S. Podbornova

The purpose of the chapter is to specify effects of crises and to evaluate their influence on growth and development of socio-economic systems.

Abstract

Purpose

The purpose of the chapter is to specify effects of crises and to evaluate their influence on growth and development of socio-economic systems.

Methodology

The authors use the method of regression analysis, with the help of which dependence on growth of the global GDP of various indicators that reflect crisis effects is determined. The information and analytical basis of the research is statistical materials of the World Bank and the International Monetary Fund. Timeframe of the research covers 2007–2016. The research is performed at the level of global economy on the whole for provision of representativeness of data and authenticity of results.

Conclusions

It is determined that influence of crisis on socio-economic system is expressed in short-term, mid-term, and long-term periods, including the next phase of economic cycle (phase of rise). Growth and development of economy after crisis are predetermined by its influence – crisis creates in a socio-economic system the environment that makes economic subject and state regulators cooperate and stimulate more active state support for society and business. Comprehensive study of the wave of economic cycle allows determining crisis as an impulse for development of economy, which expands its traditional negative treatment as a source of recession. It is also shown that crisis leads not only to financial (reduction of total savings in economy) but also social (growth of unemployment rate) and other – e.g., ecological (post-crisis increase of the share of renewable energy in the structure of production of electric energy) – effects in the economic system.

Originality/value

It is substantiated that influence of crises on growth and development of socio-economic systems is contradictory. On the one hand, crisis leads to temporary decline of GDP and slows down the development of socio-economic systems. On the other hand, crisis opens new possibilities for further growth and development of these systems, preventing their stagnation.

Details

“Conflict-Free” Socio-Economic Systems
Type: Book
ISBN: 978-1-78769-994-6

Keywords

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Book part
Publication date: 4 July 2019

Anastasia A. Kurilova, Dmitry Y. Ivanov, Daria O. Zabaznova and Aleksandr V. Malofeev

The purpose of the chapter is to determine specific and common features of social conflicts and economic crises and substantiate the necessity for their complex research…

Abstract

Purpose

The purpose of the chapter is to determine specific and common features of social conflicts and economic crises and substantiate the necessity for their complex research within the theory of economic conflicts.

Methodology

For determining the differences between social conflict and economic crisis, the authors use the methods of deduction and comparative analysis; for determining the common features of conflict and crisis of socio-economic system, the authors use the method of induction, synthesis, analysis of causal connections (logical analysis), and the methodology of the systemic approach. Also, the method of formalization (graphic presentation of authors’ conclusions) is used.

Conclusions

Comparative analysis of conflict and crisis of socio-economic system according to the existing scientific ideas is performed, and it substantiates that traditional differentiation of social conflicts and economic crises contradicts the scientific ideas on integrity of socio-economic systems in the integrity of the public and economic components. Based on the theory of systems, common features of conflict and crisis of socio-economic system are determined. It is shown that conflict is a wider notion than crisis, which is a private manifestation/example of conflict. An algorithm of conflict’s transition into crisis of socio-economic system is presented.

Originality/value

The universal scientific category should be “economic conflict,” which has the features of social conflict and economic crisis. The offered notion specifies the categorical tools of economics and provides a possibility to study previously neglected social effects of crises of economic systems as manifestations of conflicts in them. The obtained conclusions allowed for systematization of scientific knowledge in the sphere of contradictions of socio-economic systems. Due to this, it is possible to study cyclic fluctuations of these systems within multi-disciplinary studies at the joint of social and economic science and within the economic theory.

Details

“Conflict-Free” Socio-Economic Systems
Type: Book
ISBN: 978-1-78769-994-6

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Book part
Publication date: 23 December 2005

Shu-Ling Lin

The current work studies the cause, process, and effects of financial reform in 10 countries in Eastern Asia for the period of 1993–2002, especially focusing upon…

Abstract

The current work studies the cause, process, and effects of financial reform in 10 countries in Eastern Asia for the period of 1993–2002, especially focusing upon comparisons between pre- and post-Asia financial crisis. This study utilizes Mann–Whitney U test and Intervention Analysis to explore the different effects of the changes of GDP, stock index, exchange rate, CPI index, and the changes of the unemployment rate before and after the Asia financial crisis. It shows the consistent relationship between stock index, exchange rate, CPI index, and the changes of unemployment rate.

Details

Asia Pacific Financial Markets in Comparative Perspective: Issues and Implications for the 21st Century
Type: Book
ISBN: 978-0-76231-258-0

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Article
Publication date: 25 October 2021

Chhaya Mani Tripathi and Tripti Singh

The unprecedented challenges brought about by the coronavirus (COVID-19) pandemic affected people's lives worldwide. The purpose of this study is to propose a conceptual…

Abstract

Purpose

The unprecedented challenges brought about by the coronavirus (COVID-19) pandemic affected people's lives worldwide. The purpose of this study is to propose a conceptual model to explain how natural crisis events, such as COVID-19, cause stress and influence the psychological well-being (PWB) and performance of expatriates.

Design/methodology/approach

The model presented in this conceptual paper is based on Bader and Berg's (2014) two-stage stress emergence and outcome model developed to study expatriates' performance in terrorism-endangered countries. The authors apply their model to natural crisis events and provide propositions to explain the postulated relationships.

Findings

The proposed model delineates the stressors that emerge from psychological and situational factors, and how they impact the PWB and performance of expatriates. The article emphasizes how resilience, social network, and support from the organization, supervisor, and family can help mitigate the adverse effects of stress on the PWB of expatriates. Furthermore, keeping in mind the prevailing situations due to COVID-19, the authors shed light on the indispensability of virtual collaboration in ameliorating expatriates' performance in challenging times.

Practical implications

Implications are discussed for organizations in devising plans and strategies to deal with unforeseen crisis events.

Originality/value

This study extends the expatriation literature to the events of natural crisis by incorporating the stress emergence-outcome model. In doing so, the authors identify the factors relevant to natural crises and apply them to understand how they could impact expatriates in such times.

Details

Journal of Global Mobility: The Home of Expatriate Management Research, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2049-8799

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Article
Publication date: 11 October 2021

Minji Kim, Eun Joo Kim and Billy Bai

This paper aims to examine the joint role of the pandemic-induced source of crisis (i.e. health and social crisis) based on Maslow’s Hierarchy of Needs and message appeal…

Abstract

Purpose

This paper aims to examine the joint role of the pandemic-induced source of crisis (i.e. health and social crisis) based on Maslow’s Hierarchy of Needs and message appeal in customer perception of and behavioral intention toward a restaurant.

Design/methodology/approach

This study uses a 2 (source of crisis: social, health) × 2 (message appeal: social, health) between-subjects factorial design. A total of 181 samples was collected and data was analyzed by using ANCOVA and PROCESS.

Findings

The results showed a significant two-way interaction between source of crisis and message appeal on to-go intention. With the potential effect of risk aversion being controlled, message appeal significantly impacted perceived competence, which influenced both dine-in and to-go intentions.

Practical implications

The research findings suggest a crucial role of perceived fit between message appeal and customer concerns during crises. Therefore, restaurant managers should actively communicate their safety practices with their customers to inspire customer confidence.

Originality/value

This study identifies crisis dimensions based on human needs during crises such as the COVID-19 pandemic, which determines the persuasiveness of marketing messages.

Details

International Journal of Contemporary Hospitality Management, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0959-6119

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Article
Publication date: 7 October 2021

Maria Elisabete Neves, Mário Abreu Pinto, Carla Manuela de Assunção Fernandes and Elisabete Fátima Simões Vieira

This study aims to analyze the returns obtained from companies with strong growth potential (growth stocks) and the returns from companies with quite low stock prices, but…

Abstract

Purpose

This study aims to analyze the returns obtained from companies with strong growth potential (growth stocks) and the returns from companies with quite low stock prices, but with high value (value stocks).

Design/methodology/approach

The sample comprises monthly data, from January 2002 to December 2016, from seven countries, Germany, France, Switzerland, the UK, Portugal, the USA and Japan. The authors have used linear regression models for three different periods, the pre-crisis, subprime crisis and post-crisis period.

Findings

The results point out that the performance of value and growth stocks differs from different periods surrounding the global financial crisis. In fact, for six countries, value stocks outperformed growth stocks in the period that precedes the subprime crisis and during the crisis, this tendency remained only for France, Portugal and Japan. This trend changed in the period following the crisis. The results also show that investor sentiment has a robust significance in value and growth stock returns, mostly in the period before the crisis, highlighting that the investor sentiment is more significant in the moments that the value stocks outperformed.

Originality/value

As far as the authors know, this is the first work that, taking into account the future research lines of Capaul et al. (1993), investigates whether the results obtained by those authors remain current, meeting the authors’ challenge and covering the gap of recent studies on the performance of value and growth stocks. Besides, the authors have introduced a new country, heavily punished by both the global financial crisis and the sovereign debt crisis to understand whether there are significant differences in investment styles and whether this is related to the different economies. Also, in this context, the authors were pioneers in adding investor sentiment as an exogenous variable in the influence of stock returns.

Details

International Journal of Accounting & Information Management, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1834-7649

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Article
Publication date: 21 October 2021

Michelle Striepe and Christine Cunningham

This paper presents a review of empirical research on educational leadership during times of crises in K–12 schools. This review aimed to map the recent literature and…

Abstract

Purpose

This paper presents a review of empirical research on educational leadership during times of crises in K–12 schools. This review aimed to map the recent literature and identify key characteristics of educational leadership during crises to understand how this type of leadership is different from current understandings.

Design/methodology/approach

A scoping review of empirical research from 2010 to 2020 on how school leaders have managed and responded to crises in K-12 was completed. The empirical research was analysed and synthesised by using the preview, question, read and summarise (PQRS) system.

Findings

The findings draw attention to the fact that the notion of crisis leadership has been a neglected aspect of educational leadership research. Additionally, the review reveals six emerging characteristics which depict how school leadership has been enacted during different types of crisis across a range of contexts and crisis phases.

Originality/value

The findings add to current practical understandings of educational leadership by illustrating the complexity and multi-layered nature of leading during times of crisis. Furthermore, these findings contribute to the field by identifying how leading during a crisis is different from current understandings. Lastly, they highlight the need to develop theories and models that account for how leadership is used to deal with the unpredictable nature of crises that schools across the globe face today and into the future.

Details

Journal of Educational Administration, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0957-8234

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Article
Publication date: 17 September 2021

Tala Abuhussein, Husam Barham and Saheer Al-Jaghoub

The ongoing coronavirus disease (COVID-19) pandemic has resulted in sudden changes in the macro environment and market behaviour, making most enterprises urgently…

Abstract

Purpose

The ongoing coronavirus disease (COVID-19) pandemic has resulted in sudden changes in the macro environment and market behaviour, making most enterprises urgently reconfigure their business models to cope with changes following the COVID-19 outbreak. This paper aims to present empirical data on the effects of the COVID-19 crisis on small and medium-sized enterprises (SMEs), highlighting the initial conclusions regarding their crisis management. It presents factual data on how SMEs in Jordan can use entrepreneurship to combat uncertainty and promote new opportunities.

Design/methodology/approach

This study involves an exploratory qualitative research design, drawing from 32 semi-structured interviews of key informants from Jordanian SMEs in different stages of the crisis. The different coping strategies of the SMEs and their effectiveness in the first six months of the pandemic are then compared.

Findings

The findings show how Jordanian SMEs have adapted to cope with the changes in the business environment because of COVID-19. These strategies include modifying their operations that is moving from an ordinary business model to more tentative digitalisation, improving internal communication and restructuring ad hoc organisational culture.

Originality/value

The study presents important and timely implications for managers of Jordanian SMEs and policymakers by increasing the sensitisation and awareness of SMEs’ coping mechanisms. It is the first study in management that empirically analyses the impact of COVID-19 on Jordanian SMEs.

Details

Journal of Enterprising Communities: People and Places in the Global Economy, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1750-6204

Keywords

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