Search results
1 – 10 of over 10000Kenshiro Ninomiya and Masaaki Tokuda
The Japanese economy experienced prosperity during the bubble economy and has suffered from a prolonged recession since the bubble economy collapsed. This paper examines how the…
Abstract
The Japanese economy experienced prosperity during the bubble economy and has suffered from a prolonged recession since the bubble economy collapsed. This paper examines how the interest-bearing debt burden, structural change, and instability of confidence affect dynamic systems. Moreover, it examines these factors in the Japanese economy by applying a recursive vector autoregression analysis. This paper emphasizes the interest-bearing debt burden, the economic structure resulting from the instability of confidence, and the instability of confidence resulting from debt burden play important roles in the instability of the economy. As a result, Japan’s economy was determined to be relatively stable from 1980 to 1996, but was unstable, thereafter.
Details
Keywords
The purpose of this paper is to examine global monetary economic growth with free trade. It develops a multi‐country monetary growth model with capital accumulation to provide…
Abstract
Purpose
The purpose of this paper is to examine global monetary economic growth with free trade. It develops a multi‐country monetary growth model with capital accumulation to provide some insights into complexity of economic globalization with free trade and financial markets.
Design/methodology/approach
The real aspects of the model is based on the neoclassical growth theory and monetary aspects of the model are based on the money‐in‐utility approach. The behavior of households is based on an alternative approach. The paper shows that the dynamics of the J‐country world economy can be described by 2J‐dimensional differential equations.
Findings
This paper simulates equilibrium and motion of the global economy with three, developed, newly industrializing, and developing countries and Cobb‐Douglas production functions. As the global monetary economic system is unstable, the perfectly competitive world economy may either experience unlimited growth or economic crisis. Because of the choice of the initial conditions and the parameters, the simulation demonstrates a situation of global economic declination. This paper also demonstrates, for instance, that the global economy worsens off as the developed economy reduces its propensity to save or increases its inflation policy.
Social implications
This paper also tries to provide some possible implications of our model for the recent economic crisis. A policy implication of the results is that as global economies with free trade and financial markets are possibly structurally unstable and the global economy may suffer from economic declination, government interventions, and co‐operation among countries are necessary for global sustainable development.
Originality/value
The paper offers insights into the linkage between national monetary policies and global economic growth.
Details
Keywords
The purpose of this paper is to find out intentions of business graduating students regarding launching their own business, and their perception regarding issues and constraints…
Abstract
Purpose
The purpose of this paper is to find out intentions of business graduating students regarding launching their own business, and their perception regarding issues and constraints entrepreneur would encounter after entering into entrepreneurial activities. In addition, it focusses to provide a general understanding regarding entrepreneurship. The study also argues unfriendly policies and environment for entrepreneurship slows down poverty reduction and economic development.
Design/methodology/approach
For this research, data were collected through structured questionnaire. Population of this study comprised of all the MBA final semester students of Pakistan. Statistical techniques were used for analysis.
Findings
Research shows that most MBA graduating students actually plan to launch their own business, but perception about different issues and constraints refrain them to enter into the entrepreneurial field. The study also shows that policies of government and country’s environment effect entrepreneurship which further effects poverty reduction and economic development.
Originality/value
Different constraints are highlighted in the study due to which business graduates hesitate to become an entrepreneur, plus importance level of each constraint is also calculated in the study.
Details
Keywords
Marc Pilkington and Christine Sinapi
The purpose of this article is to highlight the need for renewed collaborative efforts between linguists and economists to develop a multidisciplinary approach to discourse…
Abstract
Purpose
The purpose of this article is to highlight the need for renewed collaborative efforts between linguists and economists to develop a multidisciplinary approach to discourse studies to single out, in the case at hand, how financial media discourse might reflect either a prevailing mainstream or a Minskian conceptual apparatus in financial crisis related papers.
Design/methodology/approach
The paper conducts exploratory research by focusing on semantic analysis, so as to indicate how the latter might possibly indicate a shift in the prevailing framework in contemporary financial media discourse. After a clear exposition of a theoretical dichotomy between the Minskian and mainstream approaches, it relies on Tropes software to conduct applied discourse analysis and discover evidence for the aforementioned shift. It exploits a set of three crisis-related articles from the Financial Times written by Martin Wolf. The selected corpora consist of opinion articles, a genre believed to be both emblematic of financial media discourse and subject to the influence of underlying theoretical frameworks.
Findings
The paper has identified a convincing Minskian vs mainstream dichotomy that may be substantiated by a set of disciplinary criteria. It argues that these criteria can be further used in applied discourse analysis. It demonstrates the relevance of our methodology from the exploratory test conducted. Eventually, these exploratory results, although they remain embryonic, suggest that a shift in the conceptual frameworks underlying the media discourses has taken place, from the Mainstream in fair weather conditions to (possibly) a more Minskian framework in times of crisis and financial instability.
Research limitations/implications
The sample size is extremely restricted (albeit acceptable in an exploratory research context); these limitations are inherent in exploratory research and do not preclude the validity of the broader interdisciplinary research agenda. In our proposed theoretical dichotomy, the mainstream approach is subject to caution insofar as no single and consensual definition of the latter exists to date in the literature.
Social implications
This article has highlighted the need for further multidisciplinary collaborative research endeavors (in particular, linguistics and economics). It has also touched the issue of crisis prevention and early warning systems, which may include financial press monitoring.
Originality/value
There exists a powerful media sphere within which financial discourse may exert an influence on decision-makers through the influence of underlying theoretical frameworks, eventually shaping real economic outcomes. The research program initiated, by combining the insights of economics and linguistics; therefore, aims to uncover the modus operandi of financial media discourse.
Details
Keywords
Leaders at all levels of the company need to institute a simple but effective routine for collecting the information needed to take strategic action. This article explains how to…
Abstract
Leaders at all levels of the company need to institute a simple but effective routine for collecting the information needed to take strategic action. This article explains how to make that process pervasive and suggests some specific tools to help it work effectively in your organization. There are three basic steps to strategic decision‐making: getting the right information, making a good decision and then implementing that decision. Success in the information stage translates into knowing the types of information needed to make the decision, finding it, and transmitting it quickly to the decision‐makers. The information required falls in three categories: knowledge about the competition, knowledge about your own company, and knowledge about your marketplace. It is not enough to merely gather the information; an infrastructure must be in place to ensure that market information is getting back to the decision‐makers. Get the decision‐makers together regularly to close on important issues. Critical to making better decisions is to identify alternative courses of action rather than simply one proposal. In addition to basic strategic planning there are two ways to experience making decisions under simulated conditions: wargaming and scenario planning. Regularly tracking the successful implementation of decisions made is a key method of ensuring action.
Details
Keywords
Wioletta Mierzejewska, Rumiana Górska, Maria Aluchna, Anna Krejner-Nowecka and Patryk Dziurski
Coopetition is ubiquitous in the economy, but managing effectively this type of relationship between firms remains a challenge for many organizations. This paper investigates the…
Abstract
Purpose
Coopetition is ubiquitous in the economy, but managing effectively this type of relationship between firms remains a challenge for many organizations. This paper investigates the coopetition within corporate groups and focus on factors that determine the simultaneous competition and cooperation between subsidiaries therein.
Design/methodology/approach
Drawing on a dataset of 121 corporate groups listed on the Warsaw Stock Exchange (WSE), this paper theoretically advances and empirically validates the impact of 18 factors which determine the coopetition relationship.
Findings
This study's findings confirm the importance of an organizational design among external and internal drivers of intrafirm coopetition. However, the role of an environmental uncertainty as a driver of intrafirm coopetition is not proven. Furthermore, the paper finds that internal determinants explain the phenomenon of coopetition between subsidiaries within a corporate group more than determinants related to the environment.
Originality/value
The paper contributes to the coopetition theory by empirical identification of drivers of intrafirm coopetition and advances the corporate groups studies by exploring internal relationships (cooperation and competition) and the determinants therein.
Details
Keywords
Dora Abidi and Nakagawa Koichi
This paper aims to examine the management approaches that play a key role for innovation success in a stable and unstable environment.
Abstract
Purpose
This paper aims to examine the management approaches that play a key role for innovation success in a stable and unstable environment.
Design/methodology/approach
Tunisia and Japan were chosen as a research sites to assess the accuracy of management approach adopted in each environment. Japan, as a developed, stable and predictable market, involves a traditional/conventional management mode known as administrative control approach (ACA) for successful innovation. However, we argue that a developing country is characterized by its unstable environment and requires an opportunity-based approach (OBA) that lies in the firm’s openness to search and benefit from environmental opportunities.
Findings
The paper confirms that OBA improves product innovation success in an unstable environment, for innovation in a stable one.
Originality/value
The paper provides a comprehensive comparison between innovation driven management approaches towards stable and unstable environments through multi-group structural equation modeling.
Details
Keywords
Masudul Hasan Adil, Neeraj R. Hatekar and Taniya Ghosh
One of the most significant changes in monetary economics at the beginning of the twenty-first century has been the virtual disappearance of what was once a dominant focus, the…
Abstract
One of the most significant changes in monetary economics at the beginning of the twenty-first century has been the virtual disappearance of what was once a dominant focus, the role of money in monetary policy, and parallelly, the disappearance of the liquidity preference-money supply (LM) curve. Economists used to consider monetary policy with the help of the LM curve as part of the analytical framework which captures the demand for money. However, the workhorse model of modern monetary theory and policy, the New Keynesian Dynamic Stochastic General Equilibrium (DSGE) framework, only comprises the dynamic investment-savings (IS) curve, the New Keynesian (NK) Phillips curve, and a monetary policy rule. The monetary policy rule is generally known as the Taylor rule. It relates the nominal interest rate to the output-gaps and inflation-gaps, but typically not to either the quantity or the growth rate of money. This change in the modern monetary model reflects how the central banks make monetary policy now. This study provides a detailed discussion on the role of money in monetary policy formulation in the context of the NK and the New Monetarist perspectives. The pros and cons of abandonment of money or the LM curve from monetary policy models have been discussed in detail.
Details