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To cope successfully with the pressures imposed by a devastating pandemic and other challenges, companies and policymakers need to look at how they conceptualize, define, measure and operationalize “value”. This paper aims to support this conversation.

This study presents a historical review of how the value construct has been conceptualized over time, demonstrating that its history is one of tension and debate with conceptualizations swinging between objective (i.e. the value of something exists independent of the observers) and subjective (i.e. the value of something depends on the personal response of the observer to what is being considered) views over time.

This paper outlines the implications to researchers of value’s low construct clarity, offering suggestions designed to exploit rather than ignore the duality of the value construct. Instead of thinking of the value construct as being subjective or objective, this study recommends that scholars consider value’s objectivity and subjectivity as being interrelated and complementary. The paper recommends that researchers use both quantitative and qualitative methodologies in studying this construct.

A major limitation of this paper is the word count limitation restricting the extent to which this paper could explore a more comprehensive list of the conceptualizations of value throughout history.

This paper presents practitioners with a nuanced understanding of value that should assist those interested in examining the worth of investments with observable expenses but less quantifiable outputs.

The authors have not found a similar analysis of the various conceptualizations of value.

A popular convention in the political-economy literature is that causality runs from democracy to economic growth. That thinking has continued to evoke significant debates among scholars. This study aims to propose a new research experiment by investigating whether macroeconomic variables cause democratisation.

The study uses a panel data set of 48 carefully selected economies in Sub-Saharan Africa spanning 1991 to 2020 and uses the PVAR system generalised method of moment (GMM) approach.

With the application of three macroeconomic indicators: economic growth, full employment and balance of payment equilibrium, the study suggests that economic growth has a negative implication on the democratisation process and that the incentives that increase national income provide in the global South enable autocratic rulers to impede democratic growth. The Granger causality test demonstrates a unidirectional effect from economic growth to democracy. The eigenvalue stability condition, impulse response function and forecast-error variance decomposition all confirmed the validity of the findings with the PVAR system GMM. Finally, the study proposed policy and theoretical implications for the political stakeholders.

Robust development of economic institutions (particularly the anti-corruption and rule of law) in the global South is required to tame the potential for the state actors to turn public resources into personal use to further their parochial political interest in the form of perpetuating themselves in office which negates the ideals of democracy and social norms. Strong institutions could prevent the misuse of national income and enhance a good quality of life for the citizenry, making them grow confidence in the democratisation process.

The research paper makes an insightful contributions from the methodological perspective and the sampling perspective. The author uses a new research method, the PVAR system GMM becoming the first attempt of such a method to be applied in determining the causal effects of macroeconomic variables on democracy in the literature. Another relevant contribution of the study relates to the sample technique of selecting economies from the Sub-Saharan Africa with notable weak or slow democratisation process.

The purpose of this multi-voiced paper is to propose a prosocial paradigm for the field of performance management and management control systems. This new paradigm suggests cultivating prosocial behaviour and prosocial groups in organizations to simultaneously achieve the objectives of economic performance and sustainability.

The authors share a common concern about the future of humanity and nature. The authors challenge the influential assumption of economic man from neoclassical economic theory and build on evolutionary science and the core design principles of prosocial groups to develop a prosocial paradigm.

Findings are based on the premise of the prosocial paradigm that self-interested behaviour may outperform prosocial behaviour within a group but that prosocial groups outperform groups dominated by self-interest. The authors explore various dimensions of performance management from the prosocial perspective in the private and public sectors.

The authors call for theoretical, conceptual and empirical research that explores the prosocial paradigm. They invite any approach, including positivist, interpretive and critical research, as well as those using qualitative, quantitative and interventionist methods.

This paper offers implications from the prosocial paradigm for practitioners, particularly for executives and managers, policymakers and educators.

Adoption of the prosocial paradigm in research and practice shapes what the authors call the prosocial market economy. This is an aspired cultural evolution that functions with market competition yet systematically strengthens prosociality as a cultural norm in organizations, markets and society at large.

Is there a secret recipe for economic growth?

No, there is no recipe, but we can extrapolate some pieces of advice from Adam Smith.

An economy can leave behind its “dull” stagnant state and grow when its markets expand, when the productivity of its workers increases thanks to high compensations, which are seen as incentives to work harder and when lobbying and cronyism are kept at bay. Luck plays a role too, but these three ingredients are necessary, even if not sufficient, for an economy to grow and thus be “cheerful.”

These three aspects – expansion of market, liberal compensation of workers and lobbying – especially combined, have often been underestimated in Smith’s understanding of the possible sources of economic growth.

This study aims to evaluate the influence of institutions on the probability of becoming a social entrepreneur and the effect of this choice on individual economic well-being. The authors also analyze the effects of gender (male versus female entrepreneurism) and type (traditional versus social entrepreneurism).

Institutional economics framed the analysis, and hypotheses were tested using two-stage probit least squares models in a sample of 69,236 individuals from 57 countries during the 2010–2014 wave from the World Values Survey.

The results showed that, for most variables, institutions significantly explained the probability of becoming a social entrepreneur. The analyses also indicated that social entrepreneurship is highly associated with individual economic well-being.

This research brings insights into the discussion of the social and economic benefits of socially oriented entrepreneurs. Likewise, the modeling approach overcomes the interplay between entrepreneurship and economic outcomes, in which institutions become key factors.

Este estudio evalúa la influencia de las instituciones en la probabilidad de convertirse en un emprendedor social y el efecto de esta elección en el bienestar económico individual. También se analizan los efectos del género (emprendimiento masculino versus femenino) y del tipo (emprendimiento tradicional versus social).

La economía institucional es el marco para el análisis e hipótesis, las cuales se evaluaron utilizando modelos probit de mínimos cuadrados de dos etapas (2SPLS) en una muestra de 69.236 personas de 57 países durante la ola 2010–2014 de la Encuesta Mundial de Valores.

Los resultados mostraron que, para la mayoría de las variables, las instituciones explicaron significativamente la probabilidad de convertirse en un emprendedor social. El análisis también indicaró que el emprendimiento social está altamente asociado con el bienestar económico individual.

Esta investigación aporta información sobre el debate alrededor de los beneficios sociales y económicos de los emprendedores con orientación social. Asimismo, el enfoque de modelización resuelve la interdependencia entre el emprendimiento y variables económicas, en la que las instituciones son factores claves.

Este estudo avalia a influência das instituições na probabilidade de se tornar um empreendedor social e o efeito desta escolha no bem-estar económico individual. Os efeitos do género (empreendedorismo masculino versus feminino) e do tipo (empreendedorismo tradicional versus social) também são analisados.

A economia institucional é a estrutura para a análise e hipóteses, que foram avaliadas usando modelos probit de mínimos quadrados em dois estágios (2SPLS) em uma amostra de 69.236 pessoas de 57 países durante a onda 2010–2014 dos Valores Mundiais Pesquisa.

Os resultados mostraram que, para a maioria das variáveis, as instituições explicaram significativamente a probabilidade de se tornar um empreendedor social. A análise também indicou que o empreendedorismo social está altamente associado ao bem-estar económico individual.

Esta investigação fornece informações sobre o debate em torno dos benefícios sociais e económicos dos empreendedores de orientação social. Da mesma forma, a abordagem de modelização resolve a interdependência entre o empreendedorismo e as variáveis económicas, nas quais as instituições são fatores-chave.

The purpose of this study is to address the lack of a proper database or finding system for scholars of Islamic economics (IE), as well as the dearth of literature on bibliographic search and trend analyses of scholars in this field. This study aims to adopt a bibliometric review of the bibliography of experts in IE and scholars in disciplines allied to IE.

This study adopts a bibliometric review of the bibliography of experts in IE and scholars in disciplines allied to IE. The researchers collected data on scholars’ profiles and scholarly works and analyzed them to identify trends and patterns.

This study presents two main themes: the profiles of the scholars in IE and allied disciplines, and their scholarly works. The findings on the scholars’ profiles reveal that most scholars are contemporaries born between the 1940s and 1990s, concentrated in Malaysia and affiliated with the International Islamic University Malaysia. Regarding their scholarly works, the majority of their efforts resulted in 11,736 materials in the form of books, articles and conference papers spread across 13 sub-areas in IE.

This study fills the gap in literature by providing a database and finding system for scholars in IE and conducting a bibliographic search and trend analysis of scholars in this field. The findings shed light on the profiles of scholars and their scholarly works, which can guide future research in this area.

This study aims at stirring up the existing research conducted in the field of creative economy (CE) and also in the context of Industry 5.0. CE encompasses all the creative industries/businesses which form a major part of the knowledge-based economy. The functionalities of these setups, their global trends and developments are to be assessed for a better understanding of its present circumstances and its prospective opportunities by augmenting Industry 5.0 and its core principles. This provides a comprehensive illustration to enhance the economic, social, creative and sustainable performances of the creative industry. In addition, the study also seeks to identify the dynamics of creative units and how it could highly contribute to the glorification of the creative and cultural history in the Indian economic backdrop.

The study adopts a systematic literature review process to fulfill the research objective. Four critical databases in Scopus such as Emerald Insight, Springer Link, Sage Publications and Taylor and Francis have been chosen for the review process. Following the critical literature review process, the chosen articles from each database have been retrieved for an exhaustive analysis within a time frame of 2013–2023 to evaluate the research evolution on the subject area.

The paper identified various research dimensions and perspectives of the researchers in the area of study. This gives a platform to extensively evaluate the capabilities and functionalities of the sector for strategy building and enhancing returns from the sector.

As the methodology was restricted to top 5 articles from 5 important databases, the study was limited to only those articles and the other open-access peer-reviewed articles/journals/databases have not been considered which is a major limitation. Alongside, as the time frame was restricted for a period of 10 years and only English language papers were chosen, prior study has not been considered, which is also a key limitation to the study.

Policymakers, i.e. government and institutions, can understand the existence and contribution of the CE in different geographical regions for a specified period of time. This helps them understand the new revolution, Industry 5.0, and how they could merge their concepts to bring innovations in the sector and support in building sustainable cities in the emerging economies.

As the paper works on bringing out the viewpoints of multiple authors and research works, it is considered to be a novel study as none of the previous studies, especially systematic literature review works, have been done only in high-quality journals of Scopus database. Therefore, the study holds high-quality information which can be significantly used by creative business units.

This study is carried out to investigate the effects of tourism expenditure, technological development and foreign direct investment on tourism development in the United States of America, a top international tourism destination in the world, from 1995 to 2021.

To this end we use the Autoregressive Distributive Lag method which captures short and long run effects. This method is also fundamental in presenting robust results when time series data with short time periods is used. The FMOLS and DOLS methods are used to ensure the robustness of the findings.

The results of the Autoregressive Distributive Lag indicate that spending on tourism contributes to the growth of the tourist industry in the country. The study reveals that economic growth has a detrimental impact on the development of tourism. Furthermore, carbon emissions are exclusively impeding the long-term progress of tourism development. The country's prioritization of economic growth has led to a rise in carbon emissions, disregarding the desire of tourists to experience a pollution-free and natural environment. Moreover, foreign direct investment exerts a beneficial impact on the advancement of tourism.

Although there has been numerous research on the factors that influence tourism, there is less documentation on the specific factors affecting tourism development. The research examines the effect of carbon emission of tourism development of United States, the World's top tourism destinations. Few studies have attempted to unlock this association in the United States; hence, the research originality.

This paper aims to explain how the dynamics of inter-firm relations between small and large firms can, in the case of some behaviours, be interpreted as inter-organizational bullying.

This paper draws on a qualitative approach adopting the critical incident method to explore the subjective experiences of 13 individual managers and owners of small service businesses in dealing with the representatives/executives of the large corporations they serviced. The method facilitated an investigation of the significant occurrences identified by the small-firm respondents about the undue advantage taken by the large firms. This was found to be more than simple occasional opportunistic or unfair business practices perpetrated by representatives of the large firms but, instead, involved bullying.

The results revealed that large corporations actively, though covertly, sought to take advantage of their small service providers by resorting to bullying practices. Intimidation, opportunism, use of deceitful or unfair business practices, as well as abuse of power, were manifestations of inter-organizational bullying committed by the large and powerful corporations. The contrasting characteristics of size, access to resources, economic and market power were identified as strong impediments against building effective ethical relational exchanges between the large corporations and their small service providers.

The study's findings provide valuable insights into the root causes and consequences of inter-organizational bullying. However, it is crucial to interpret these results in the context of this specific study. It is worth nothing that these findings primarily represent the self-perception of inter-organizational bullying among small service providers and may not capture other viewpoints or aspects of the industrial sector. Replicating this study in different sectors could enhance the generalizability of the conclusions drawn.

This analysis is valuable in understanding what constitutes the phenomenon referred to as inter-organizational bullying. It also assists to understand the conditions when large firms exhibit such behaviours and their implications on the well-being of relevant stakeholders.

Firstly, the business partners should maintain a healthy relationship if they want to avoid incidents of bullying, which can harm the performance of the relationship. In doing so, they need to reduce the level of uncertainty in their business relationships through the transparent information exchange, formulating commonly agreeable contracts and enhancing communication procedures. They also need to put aside their self-interest, but rather strive for achieving results that will be beneficial to both parties.

This exploratory study offers a novel and unexplored way of theorizing inter-organizational bullying, as well as uncovering its antecedents and impacts on the welfare of small businesses, particularly small service providers.

The purpose of this paper is to present an oligopolistic version of the cobweb model that departs from the strict assumptions of perfect competition in the traditional cobweb model.

Introducing a model where n identical producers engage in Cournot competition, with output decisions influencing market prices. The paper retains the original assumptions of naive expectations and a linear model where price expectations of Cournot competitors are made simultaneously with production decisions. The investigation focuses on the model's behavior as the number of producers decreases or industry concentration increases. The authors also show empirical evidence when drawing the data from the pig sector in China and the USA.

The findings indicate that the cobweb model undergoes a transition from divergent to continuous and even convergent as the number of producers decreases or industry concentration increases. The incorporation of costs related to entry and exit from the market contributes to achieving a more stable equilibrium state.

The cobweb model has been primarily studied in an idealized market structure of perfect competition, and the assumptions that they share are not obviously appropriate to many agriculture markets. This study presents an alternative version of the cobweb model in an oligopolistic market that relaxes the strict assumptions of perfect competition. The authors show the dynamics of reduced competitor numbers or increased industry concentration on the convergence of the cobweb model based on subtle variations in parameters.