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Aims to methodologically explain a phenomenological model with empirical contents for modelling ethics in socioeconomic development. Addresses a circular causality between state variables and policy variables for the case of socioeconomic development of Indonesia with ethics and values as important focus required for the private sector role.

This is a methodological paper with good empirical content prescribing policy recommendations for the role of ethics and values in the private sector in Indonesian socioeconomic development. Philosophy of science heads off the methodological part. This is combined with contextual elements of Islamic development financing instruments to highlight the need for ethics and values in the development of Indonesia, the largest Muslim nation.

The paper highlights how the Indonesia private sector and the Government need to corroborate the focus of ethics and values in the national development plan. This is a novel approach to modelling ethics and values and estimating it by circular causation system of regression equations answering the theme of social wellbeing through socioeconomic development.

The true empirical work would have used complexity methods. In the paper the simple approach has been maintained by using the system of circular causation related regression equations. This is part of an on‐going research project on unity of knowledge and its empirical application to specific problems of science and society including the social economy. Thus, the project presents challenging field of academic investigation for many.

Provides policy recommendations on how ethics and values ought to be incorporated in the socioeconomic development plan through private sector participation in Indonesia. The need for the role of private sector ethical consciousness in Socioeconomic development of Indonesia is highlighted.

This is an original contribution in the area of phenomenological investigation on ethics and how it can be modelled and applied in specific circumstances (Indonesia private sector development within her development plan). The paper brings forth a challenging concept along lines of a scientific research program that looks at the methodology of unity of knowledge as the phenomenological basis of development planning and then empirically investigates this methodological conception through modelling of ethics and values.

Physical victimization at school is little studied in impoverished developing country contexts. Moreover, the role of school and classroom contexts as risk factors remains poorly understood.

The aim of the study is to investigate the prevalence of physical victimization in rural Chinese middle schools as well as the individual, teacher/classroom, and school-level risk factors associated with experiencing physical victimization.

We use two waves of longitudinal, representative survey data to perform a multilevel logistic regression analysis (MLRA) of physical victimization among middle school students from 100 villages in one of China’s poorest provinces. We focus on a subset of questionnaire items that were gathered from students when the sampled children were 13–16 years old. We also utilize student data from the first wave of the survey to control for prior internalizing problems and academic achievement. Finally, we link matched data collected from principal and teacher questionnaires to examine the risk factors for physical victimization associated with students’ microclimates and the wider school environment.

A substantial proportion of middle school students (40%) reported having been beaten by classmates. Elevated risk was found among males; students with prior poor performance in language; students with past internalizing problems; students of female teachers and teachers evaluated as low performing; students in disruptive classrooms; and students in classrooms undergoing mandated reforms.

These findings suggest that efforts to reduce school violence should not only focus on the deficits of individual students, but rather should target practices to alter the within school risk factors associated with microclimates.

This study examines the effects of market orientation on the performance of retail outlets in Zimbabwe, a low-income country (LIC). LIC retailers operate at the nexus of subsistence marketplaces and the market economy. Socioeconomic, cultural and regulative institutions are more dynamic and differ substantially from the industrialized West. This provides an interesting context in which to test the generalizability of market orientation theory. A covariance structure model of the hypothesized relations indicates that market orientation improves performance. Reward systems have a positive effect on market orientation and a positive indirect effect on performance through market orientation. However, consistent with the characteristics of Zimbabwe, which are not unexpected in the LIC institutional context, interdepartmental conflict, centralization, and formalization do not have significant effects on market orientation. The results suggest that the market orientation–performance link generalizes but that some antecedents of market orientation identified in previous research may not apply in LICs.

The multidisciplinary research on the phenomena of voluntary career transition (VCT) and voluntary turnover (VTO) remains disparate. This integrative review examines literatures in these two areas in relation to research in the Chinese context. The purpose of this paper is to identify future research directions for Chinese indigenous research in this area.

This review adopted an integrative literature review approach.

The authors found that research on VCT and VTO in different disciplines has shared identical or similar constructs and produced complementary empirical findings. This suggests that combining the disparate research in VCT and VTO in the Western literature to address the large‐scale career phenomenon in China may produce unexpected research outcomes, particularly when integrating the research with Chinese‐specific contexts in socioeconomic, cultural, and organization dynamics.

Taking advantage of, and linking existing literature in, VCT and VTO while considering the Chinese context may generate new knowledge to understand the massive career phenomenon in China. The authors offer a number of specific research questions based on the review and analysis of the literatures.

This paper offers insights for organizations to develop strategies and policies in balancing talent management and employees career concerns.

The paper is the first in the literature proposing an integrated research strategy on VCT and VTO to study the same phenomenon in organizations, particularly in the Chinese context.

This chapter presents a model of innovation in the public elementary schooling system by drawing on ongoing work on an “Educational Innovations Bank” in India, which seeks to make available a freely accessible forum for innovative teachers and a grassroots innovations resource for administrators. How do some teachers in government elementary schools, working in contexts of socioeconomic and educational deprivation, achieve their educational goals in spite of facing the same constraints as thousands of other teachers? What lessons do they offer for policy reform? The answers draw on the social entrepreneurship and workplace innovation literature to first locate the incentive for innovation in the social value that socio-educationally entrepreneurial and innovative behavior of teachers creates. Next, an examination is presented of how this social value leads to learning for an identity of competence, which in turn provides an incentive for further educational innovation. Finally, the evidence is presented to argue for policy entrepreneurship and a formal framework to help in the diffusion, adoption, and adaptation of both the enabling innovations that result from socio-educational entrepreneurship and the in-school or in-class educational innovations. Such a “bottom-up,” peer-learning-based approach to innovations that also “improve” provides a unique way of visualizing educational reform in resource-constrained public educational systems.

The purpose of this paper is to examine the relationship between leverage and firm performance using small business data from France by estimating the effects of leverage on both average firm performance and the variance of firm performance.

Focusing on French small- and medium-sized enterprises (SMEs), which tend to be dependent on bank loans, the authors examine the relationship between leverage and firm performance. This study was based on a unique panel data set of more than 2,157 manufacturing SMEs covering the years 2007-2015. The authors estimate the effects of leverage on both average firm performance and the variance of firm performance.

Focusing on the average effects of leverage, the authors find that highly leveraged firms suffer from poor performance. In addition, the variance in firm performance is higher if firms are highly leveraged. Results also underline that leveraged firms are better performers when they have sufficient collateral assets.

The study, however, has also some limitations. The first one is that the findings were obtained for only one industry sector, so attempts should be made to study the issue, as it applies to other sectors as well. Second is the context where the study was conducted. This study has been conducted based on data gathered from SMEs in France within a specific socioeconomic context (2007-2008 global financial crisis), which may also limit the generalizability of the results for different contexts with different socioeconomic situations. It would also be useful, to have a better explanation for the performance of SMEs, to add to the model more financial variables or other types of variables such as those related to managerial skills or to the macro-economic environment. Finally, further research could examine the joint impact of both leverage and ownership structure on firm’s performance as a large number of French firms are family firms. The limitations of this study, however, can in fact be an opportunity for future researchers to conduct studies addressing those limitations.

This research has some implications for small business lending. SME owners and managers may, on the one hand, be encouraged by the fact that collateral assets can reduce agency costs, thereby positively affecting firm performance. On the other hand, high leverage can facilitate firm growth if firms have collateral assets. This implies that policymakers interested in stimulating SMEs should develop more suitable collaterals for high-risk SMEs with low asset tangibility.

The results also have implications for financial institutions. To prevent unexpected and extensive bankruptcies, banks might classify firms with negative cash flows as borrower in danger of bankruptcy. However, the results show that highly leveraged firms with good investment opportunities and high collateral assets reduce the probability of bankruptcy. This implies that banks need to evaluate the credit risk of very highly leveraged small businesses more carefully.

It should be noted that the case of France remains marginal in terms of the conducted studies.

Purpose – Our study focuses on the impacts of young adults’ financial situation and agency on success and satisfaction regarding developmental tasks (attainments in educational, work and social domains) in the context of economic upheavals.

Methodology/approach – The study is part of the longitudinal Finnish Educational Transitions Studies (FinEdu), in which high school students (N=614 at baseline) participated once before and three times after graduation (ages 19–25) while progressing to tertiary education and employment.

Findings – Agency (indicated by achievement and social approach strategies) increased, whereas achievement and social avoidance decreased from ages 19 to 25. Financial situation improved from an objective but not subjective perspective. Both high and increasing levels of agency were related to high levels of success and satisfaction regarding developmental tasks at age 25. In particular, social approach was related to educational attainment, sense of belonging, and romantic relationship satisfaction. High initial levels of agency and an improved financial situation predicted low economic pressure at age 25.

Research implications – Both sociopolitical structures and individual agency are important in shaping life course transitions in early adulthood. The apparent discrepancy between the macro-level national economic recession and young adults’ relatively high economic satisfaction could be explained by high agency in a welfare state context.

Social implications – The study shows important links between individuals’ life course and the societal context of Finland, a secure Nordic welfare state in the midst of global economic upheavals.

Originality/value of paper – Our longitudinal study makes a significant contribution to life course research by comprehensively conceptualizing the developmental tasks and considering their individual and social determinants.

Impact investors differ from venture capital firms as they invest to create social and commercial value. This paper pursues the question: how do impact investors select social enterprises? The aim of this study is to understand the selection and investing process of impact investors.

This study developed a database of 115 impact-investing firms across different geographies. Emails were sent to investors associated with each of the impact-investing firms found in the database, out of which 32 replied with consent for a telephonic or in-person interview.

The significant findings presented in the paper are the following. First, this study shows the impact-investing selection process model. The four major steps in the selection process are context, investment focus, venture analysis and decision. In each step, social values and missions become the defining characteristics of the selection process. Second, the findings also discuss the typologies of impact investors as a function of their selection approaches.

This paper discusses the impact investing strategy among social enterprises. It provides a framework for impact investing among investee social enterprises. As an impact investing professional, one learns investment strategy through this paper.

Impact investing is a growing field. It is believed that impact investing could greatly impact sustainable development goals, climate change goals and help in inclusive development. This study helps to further understand impact investing process and hopes to help social enterprises and impact investors make a better match, thereby, creating a greater overall social and environmental impact.

This study helps both practitioners and academics to understand the complexity of impact investing. This study helps develop heuristics that impact investors may use to make investments. This study provides a framework for investing, which the impact investing firms may use to invest.

The study attempts to assess the relationship between sociodemographic factors and the risk tolerance level of stock market investors reflected by their trading behavior from the perspective of developing market economy.

The study collected data from a survey on capital market investors in Bangladesh. Portfolio beta has been used as a dependent variable to measure the risk tolerance level where total 11 sociodemographic factors have been used as independent variables.

Among all study variables, three sociodemographic factors are found to be significant in differentiating the risk tolerance level of the stock market investors. The author finds that the risk tolerance level of stock market investors significantly varies according to marital status, family size and financial responsibility.

As sociodemographic characteristics provide a basis in assessing the investor risk tolerance level in the context of developing market economies, the study suggests that stock market related policy and investment management planning process should be formulated by incorporating behavioral aspects of the retail investors.

This study has the potential to contribute to the behavioral finance literature by showing how and at what extent sociodemographic factors may influence the risk tolerance level of stock market investors in developing countries, where sociodemographic factors are considered to be more dominating than the normative portfolio selection procedure because of lacking in investors' financial literacy and due to the presence of a weak regulatory as well as institutional framework. Further, apart from identifying and comprehensively incorporating all possible sociodemographic factors, this study uses portfolio beta as a new objective measure for financial risk tolerance, which overcomes the problem of subjective and other risk tolerance measurement in the existing literature.

The purpose of this paper is to examine the education-job match of political science graduates from Slovenia, as well as from selected EU countries, in the context of other disciplines. In the frame of contested theoretical approaches, the implications of matching the knowledge that is acquired during education to the skills that are needed on the job are also examined.

Using the REFlex HEGESCO database, as well as other secondary data, the wider disciplinary and contextual environments are presented. Disciplinary and contextual mapping is followed by binary logistic regression of primary data collected from Slovene political science graduates. Based on the results, the authors determined the validity of certain theoretical premises of human capital, credentialist, and assignment approaches, specifically regarding education-job matching.

In terms of graduate education-job match, the results indicate that the relevance of the sector of employment relates to educational as well as skill match. The results also indicate that matched candidates utilize the skills acquired during the education process to a greater degree, which adds weight to the assignment theory's presumption. The effect of formal credentials is relevant, because graduates with Bologna degrees, despite having attended programs with virtually identical curricula at the same institution, are significantly less matched when compared to non-Bologna graduates. Accordingly, the effect of the change to the structure of the system of higher education (HE), which is amplified by the period effect of the economic crisis, implies a serious change to graduates’ opportunity structure.

The study should motivate a re-examination of the teleological purpose of the study by professional associations in the state. It should also motivate the adjustment of the study programs to the new conditions graduates face and strengthen the educator-employer relationship to make the latter cognizant about the study programs and the skills of graduates. In addition, the study should provide grounds for a critical discussion about the implications of governmental austerity measures on the public sector.

The paper provides new insights into the early careers of political scientists and social scientists at large. It also offers early evidence on the effect of the Bologna's HE reform and indications about the early career achievements in a crisis-struck post-communist country.