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1 – 10 of over 2000Maria Jose Zapata Campos, Ester Barinaga, Richard Dimba Kiaka and Juan Ocampo
Highly deprived urban contexts, such as informal settlements in the global south, can turn into niches of extreme innovation and sparkle ingenuity out of necessity. But what are…
Abstract
Purpose
Highly deprived urban contexts, such as informal settlements in the global south, can turn into niches of extreme innovation and sparkle ingenuity out of necessity. But what are the rationales behind the participation of disadvantaged communities in social innovations? Why do they engage in grassroots innovations? What is it that makes these grassroots try novelties and continue experimenting with them, even when the perceived benefits are not clear yet? This paper aims to examine and conceptualize the rationales for engaging in grassroots financial innovations in the context of extremely deprived urban settings.
Design/methodology/approach
This paper is based on the case of grassroots organizations which have started experimenting with the development of a community currency in Kisumu, Kenya. This paper is informed by in-depth interviews with members of three grassroots organizations involved in the community currency, together with observations and meeting participation since 2019.
Findings
The rationales argued by the participants for engaging in this grassroots innovation are framed in various ways: as a means for seeking poverty alleviation (the development framing); as a challenge to conventional imaginaries of innovations (the digital framing); and as an innovation embedded in community and trust relations (the community framing). These framings have a mobilizing effect that initially draws participants into the innovation. Yet, what explains persistent participation despite the decreasing influence of these framings over time is the organizational space and strategies of incompleteness accommodating these experiments.
Originality/value
This paper contributes to the emerging body of grassroots innovations movements literature. While research has progressed in its understandings of the challenges of scaling up innovative practices, the examination of the grassroots initiatives stemming from extremely deprived settings, and the rationales and framings behind, have been under examined. This paper comes to bridge this gap.
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Karl Marx's social capital reproduction theory is his significant contribution to economics. The purpose of this paper is to review the contributions of the exploration of Chinese…
Abstract
Purpose
Karl Marx's social capital reproduction theory is his significant contribution to economics. The purpose of this paper is to review the contributions of the exploration of Chinese economists (especially Professor Liu Guoguang) in the concretization of Marx’s social capital reproduction theory combined with socialist construction since 1949.
Design/methodology/approach
During this process, Professor Liu Guoguang, a famous Chinese Marxist economist, has made an outstanding contribution by creating a Marxist social capital reproduction model with Chinese characteristics and a distinctive Marxist economic growth model. Professor Liu's exploration is still of crucial practical significance to building a socialist market economy today.
Findings
The process and achievements in the sinicization exploration of Marx's social capital reproduction theory were reviewed. With the reform and opening up, fundamental changes have occurred in China's economic system – the centralized planned economic system has been transformed into a socialist market economic system.
Originality/value
The planned management of the national economy is replaced by a macro-regulation system characterized by gross control gradually, and the concepts of agriculture, light industry, and heavy industry, and their intercorrelation are no longer applied in theory and policy. However, the sinicization exploration of Marx's social capital reproduction theory in the older generation of Marxist economists represented by Liu is not only of historical significance but also of important practical significance.
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Zaminor Zamzamir@Zamzamin, Razali Haron, Zatul Karamah Ahmad Baharul Ulum and Anwar Hasan Abdullah Othman
This study examines the impact of hedging on firm value of Sharīʿah compliant firms (SCFs) in a non-linear framework.
Abstract
Purpose
This study examines the impact of hedging on firm value of Sharīʿah compliant firms (SCFs) in a non-linear framework.
Design/methodology/approach
This study employs the system-GMM for dynamic panel data to examine the influence of derivatives usage on firm value (Tobin's Q, ROA and ROE). The sample comprised of 59 non-financial SCFs engaged in derivatives from 2000 to 2017 (18 years). The Sasabuchi-Lind-Mehlum (SLM) test for U-shaped is performed to confirm the existence of the non-linear relationship.
Findings
This study concludes that hedging significantly contributes to firm value of SCFs based on the non-linear framework. This study suggests that, first, the non-linear relationship occurs due to the different degree of derivatives usage and risk. Second, firms practice selective hedging to maintain the upside potential of firm value.
Research limitations/implications
This study has important implications. First, the importance of risk management via derivatives to increase firm value, second, the evidence of selective hedging from the non-linear relationship between derivatives and firm value and third, the need for quality reporting on derivatives engagement by firms in line with the required accounting standard on derivatives.
Originality/value
This study fills the gap in the literature in relation to the risk management strategies of SCFs in three aspects. First, re-examines the relationship using recent data. Second, examines the relationship in the non-linear framework as the limited studies found in the literature on Malaysian firms are only based on linear relationship. Third, determines whether hedging undertaken by firms is optimal as this can only be addressed using the non-linear framework. This study is robust to the various definitions of firm value (Tobin's Q, ROA and ROE) and non-linear methodologies.
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Francisca Letícia Ferreira de Lima, Rafael Barros Barbosa, Alesandra Benevides and Fernando Daniel de Oliveira Mayorga
This paper examines the impact of extreme rainfall shocks on the performance in test scores of students living near at-risk urban areas in Brazil.
Abstract
Purpose
This paper examines the impact of extreme rainfall shocks on the performance in test scores of students living near at-risk urban areas in Brazil.
Design/methodology/approach
To identify the causal effect, we consider the exogenous variation of rainfall at the municipal level conditioned on the distance from the school to risk areas and the rainfall intensity in the school months.
Findings
The results suggest that extreme precipitation shocks, defined as a shock of at least three months of high-intensity rainfall, have an adverse impact on both math and language performance. Through a heterogeneous effects analysis, we find that the impact varies by student gender, with girls being more affected. In addition, among students who study near at-risk areas, those with better previous school performance and higher socioeconomic status are more negatively affected.
Originality/value
Our results suggest that extreme weather events can increase the differences in human capital accumulation between the population living near risk areas and those living more distant from these areas.
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Sophie E. Jané, Virginie Fernandez and Markus Hällgren
The purpose of this paper is to reflect upon how encountering trauma unexpectedly in the field informs the doing of fieldwork.
Abstract
Purpose
The purpose of this paper is to reflect upon how encountering trauma unexpectedly in the field informs the doing of fieldwork.
Design/methodology/approach
A reflexive essay approach was adopted to explore traumatic incidents in extreme contexts. Written vignettes, interviews, field notes and information conversations served as the bases for reflections.
Findings
Four themes arose from the reflections (Bracketing, Institutional Pressure, Impact on Research and Unresolvedness). It was suggested that researchers engaged in extreme context research, and management and organization studies scholars engaged in dangerous fieldwork more broadly, are under institutional pressure to continue work that may put themselves in harm's way. Traumatic experiences also shape and reflect the researcher's identity, which informs choices about current and future research projects.
Research limitations/implications
It was suggested that scholars will benefit from reading the accounts of others to reduce the burden of isolation that can accompany traumatic field experiences.
Originality/value
Exploring single traumatic events enabled in engaging with trauma encountered unexpectedly and directly in the field. The reflections reveal the effects of psychological and physical trauma on researchers, and highlight how trauma impacts the research process.
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Chunlan Li, Jun Wang, Min Liu, Desalegn Yayeh Ayal, Qian Gong, Richa Hu, Shan Yin and Yuhai Bao
Extreme high temperatures are a significant feature of global climate change and have become more frequent and intense in recent years. These pose a significant threat to both…
Abstract
Purpose
Extreme high temperatures are a significant feature of global climate change and have become more frequent and intense in recent years. These pose a significant threat to both human health and economic activity, and thus are receiving increasing research attention. Understanding the hazards posed by extreme high temperatures are important for selecting intervention measures targeted at reducing socioeconomic and environmental damage.
Design/methodology/approach
In this study, detrended fluctuation analysis is used to identify extreme high-temperature events, based on homogenized daily minimum and maximum temperatures from nine meteorological stations in a major grassland region, Hulunbuir, China, over the past 56 years.
Findings
Compared with the commonly used functions, Weibull distribution has been selected to simulate extreme high-temperature scenarios. It has been found that there was an increasing trend of extreme high temperature, and in addition, the probability of its indices increased significantly, with regional differences. The extreme high temperatures in four return periods exhibited an extreme low hazard in the central region of Hulunbuir, and increased from the center to the periphery. With the increased length of the return period, the area of high hazard and extreme high hazard increased. Topography and anomalous atmospheric circulation patterns may be the main factors influencing the occurrence of extreme high temperatures.
Originality/value
These results may contribute to a better insight in the hazard of extreme high temperatures, and facilitate the development of appropriate adaptation and mitigation strategies to cope with the adverse effects.
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Noha Emara and Mahmoud Mohieldin
Eradicating extreme poverty remains one of the most significant and challenging sustainable development goals (SDGs) in the Middle East and North African (MENA) region. The latest…
Abstract
Purpose
Eradicating extreme poverty remains one of the most significant and challenging sustainable development goals (SDGs) in the Middle East and North African (MENA) region. The latest World Bank statistics from 2018 show that extreme poverty in MENA increased from 2.6% to 5% between 2013 and 2015. MENA ranks third among developing regions for extreme poverty and fell short of halving extreme poverty by 2015 – the target established by the United Nations’ (UN) millennium development goals, the precursor to the SDGs. The purpose of this study is to analyze the impact of financial inclusion on extreme poverty for a sample of 34 countries over the period 1990–2017.
Design/methodology/approach
Using system general method of moments dynamic panel estimation methodology on annual data for 11 MENA countries and 23 emerging markets (EMs) over the period 1990 – 2017, this study begins by estimating the impact of financial inclusion – using measures of access and usage – on the eradication of extreme poverty by 2030, the first goal of the SDGs.
Findings
The results of the study indicate that, on one hand, financial access measures have a positive, statistically significant impact on reducing extreme poverty for the full sample and the MENA region. The second part of the study uses a gap analysis against four poverty targets – 0%, 1.5%, 3% and 5% – and shows that no MENA country and few EM countries will be able to close the extreme poverty gap and reach the target of 0% by 2030 by depending solely on improvements in financial access. These targets are based on the two benchmarks set by the World Bank and the UN, with intermediaries to capture error and give a fuller picture of what is possible. However, if improvements in financial inclusion alone can bring every EM and MENA country except Djibouti and Romania to bring the most accessible target of reducing global extreme poverty to no more than 5% by 2030.
Originality/value
While research on poverty reduction in the region tends to focus on financial development and governance, less attention has been paid to the role of financial inclusion. SDG 1 – eliminating poverty in all its forms – explicitly highlights the importance of access to financial services. Indeed, evidence from Argentina, India, Kenya, Malawi, Niger and other countries demonstrates the ways in which financial inclusion can impact poverty (Klapper, El-Zoghbi and Hess, 2016). When people are included in the financial system, they are better able to improve their health, invest in education and business and make choices that benefit their entire families. Financial inclusion advances governments, too: introducing vast segments of the population into the financial system by digitizing social transfers, for example, can cut government costs and reduce leakage, with benefits that ripple across society. Yet, the links between financial inclusion and poverty reduction in MENA are less established. This study aims to analyze the importance of financial inclusion in addressing extreme poverty by 2030, the year UN member states set as a target for achieving the SDGs.
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The purpose of this paper is to show that major reversals of an index (specifically BIST-30 index) can be detected uniquely on the date of reversal by checking the extreme…
Abstract
Purpose
The purpose of this paper is to show that major reversals of an index (specifically BIST-30 index) can be detected uniquely on the date of reversal by checking the extreme outliers in the rate of change series using daily closing prices.
Design/methodology/approach
The extreme outliers are determined by checking if either the rate of change series or the volatility of the rate of change series displays more than two standard deviations on the date of reversal. Furthermore; wavelet analysis is also utilized for this purpose by checking the extreme outlier characteristics of the A1 (approximation level 1) and D3 (detail level 3) wavelet components.
Findings
Paper investigates ten major reversals of BIST-30 index during a five year period. It conclusively shows that all these major reversals are characterized by extreme outliers mentioned above. The paper also checks if these major reversals are unique in the sense of being observed only on the date of reversal but not before. The empirical results confirm the uniqueness. The paper also demonstrates empirically the fact that extreme outliers are associated only with major reversals but not minor ones.
Practical implications
The results are important for fund managers for whom the timely identification of the initial phase of a major bullish or bearish trend is crucial. Such timely identification of the major reversals is also important for the hedging applications since a major issue in the practical implementation of the stock index futures as a hedging instrument is the correct timing of derivatives positions.
Originality/value
To the best of the author’ knowledge; this is the first study dealing with the issue of major reversal identification. This is evidently so for the BIST-30 index and the use of extreme outliers for this purpose is also a novelty in the sense that neither the use of rate of change extremity nor the use of wavelet decomposition for this purpose was addressed before in the international literature.
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Walter Leal Filho, Murukesan Krishnapillai, Aprajita Minhas, Sannia Ali, Gabriela Nagle Alverio, Medhat Sayed Hendy Ahmed, Roselyn Naidu, Ravinesh R. Prasad, Navjot Bhullar, Ayyoob Sharifi, Gustavo J. Nagy and Marina Kovaleva
This paper aims to address a gap in investigating specific impacts of climate change on mental health in the Pacific region, a region prone to extreme events. This paper reports…
Abstract
Purpose
This paper aims to address a gap in investigating specific impacts of climate change on mental health in the Pacific region, a region prone to extreme events. This paper reports on a study on the connections between climate change, public health, extreme weather and climate events (EWEs), livelihoods and mental health, focusing on the Pacific region Islands countries.
Design/methodology/approach
This paper deploys two main methods. The first is a bibliometric analysis to understand the state of the literature. For example, the input data for term co-occurrence analysis using VOSviewer is bibliometric data of publications downloaded from Scopus. The second method describes case studies, which outline some of the EWEs the region has faced, which have also impacted mental health.
Findings
The results suggest that the increased frequency of EWEs in the region contributes to a greater incidence of mental health problems. These, in turn, are associated with a relatively low level of resilience and greater vulnerability. The findings illustrate the need for improvements in the public health systems of Pacific nations so that they are in a better position to cope with the pressures posed by a changing environment.
Originality/value
This paper contributes to the current literature by identifying the links between climate change, extreme events, environmental health and mental health consequences in the Pacific Region. It calls for greater awareness of the subject matter of mental health among public health professionals so that they may be better able to recognise the symptoms and relate them to their climate-related causes and co-determinant factors.
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