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Item Open Access Epistemic Injustice and Epistemic Resistance: An Intersectional Study of Women’s Entrepreneurship Under Occupation and Patriarchy(Sage, 2023-12-07) Omran, Wojdan; Yousafzai, ShumailaWomen face unique challenges in their quest to achieve business success relative to men. Applying the theories of epistemic injustice and intersectionality, this study collectively analyzes the overlapping impacts of identities that complement gender at multiple levels in the context of the oppressive, interconnected power structures of occupation and patriarchy. Our findings explain how the impact of institutional oppressors, through structural and normative discrimi- nation, may cause some Palestinian women entrepreneurs to internalize and accept injustice while others tap into available resources to engage in epistemic resistance.Item Open Access Breaking barriers and bridging gaps: the influence of entrepreneurship policies on women’s entry into entrepreneurship(Emerald Publishing, 2024-06-24) Raza, Ali; Yousafzai, Shumaila; Saeed, SaadatPurpose – How does the interplay between entrepreneurship policies and both formal and informal gender equality affect women’s inclination towards self-employment in contrast to men? Design/methodology/approach – This study introduces and validates a comprehensive multi-level model underpinned by symbolic interactionism, institutional theory, and the nuances of gendered institutions. Employing innovative analytical techniques and leveraging data from 66 countries, we scrutinize how formal and informal gendered institutional arrangements either inhibit or facilitate an environment favorable to women’s entrepreneurial activities. Findings – Significantly, our research delves into the nuanced effects of specific entrepreneurship policies across diverse nations. While these policies can bridge the gendered resource gap, a profound understanding of broader gender dynamics is crucial for fostering an inclusive entrepreneurial landscape. Originality/value – Our insights advocate for a more integrated approach to bolster women’s participation in entrepreneurship, thus furthering their socio-economic progression.Item Open Access Circular entrepreneurial ecosystems: a Quintuple Helix Model approach(Emerald Publishing, 2024-04-03) Borrero, Juan D.; Yousafzai, ShumailaPurpose The shift toward a circular economy (CE) represents a collaborative endeavor necessitating the presence of efficient frameworks, conducive contexts and a common comprehension. This research serves as a pivotal stride towards this goal, presenting an exclusive prospect for the investigation and fusion of these frameworks, with particular emphasis on the Quintuple Helix Model (5HM), into a unified theoretical framework that underscores the core principles of the CE. This study is centered on three pivotal questions aimed at decoding the CE transition in specific regional settings. Design/methodology/approach Adopting an abductive approach firmly anchored in a two-stage qualitative process, this study specifically merges the foundational principles from institutional theory, entrepreneurship literature and CE frameworks to provide insights into the dynamics of circular ecosystems, with a specific focus on the Huelva region in Spain. Findings The findings demonstrate significant potential in the CE, ranging from the integration of product and service systems to innovations in eco-industrial practices. Yet, a notable deficiency exists: the absence of institutional entrepreneurs, highlighting the essential role that universities can play. As recognized centers of innovation, universities are suggested to be key contributors to the transformation toward a CE, aligning with their societal and economic responsibilities. Practical implications This study highlights the importance of managing relationships with entities like SMEs and policymakers or academia for effective CE adoption. Policymakers can refine strategies based on the research’s insights, while the impact of university-driven circular ecosystems on sustainable societies is another crucial area for research. Originality/value The sustainability models cited in CE literature may not be comprehensive enough to prevent problem shifting, and it can be argued that they lack a sound theoretical and conceptual basis. Furthermore, the connections between sustainability objectives and the three levels of the CE operating system remain vague. Additionally, there is insufficient information on how regions foster the involvement of the environment in fivefold helix cooperation and how this impacts the CE.Item Open Access DOMINANT CURRENCIES: HOW FIRMS CHOOSE CURRENCY INVOICING AND WHY IT MATTERS*(The Quarterly Journal of Economics, 2022) Amiti, Mary; Itskhoki, Oleg; Konings, JozefWe analyze how firms choose the currency of invoicing and the implications of this choice for exchange rate pass-through into export prices and quantities. Using a new data set for Belgian firms, we find currency invoicing to be an active firm-level decision, shaped by the firm’s size, exposure to imported inputs, and the currency choices of its competitors. Our results show that a firm’s currency choice, in turn, has a direct causal effect on the exchange rate pass-through into prices and quantities. Moreover, the differential price response of similar firms that invoice in different currencies is large, persists beyond a one-year horizon, and gradually wanes in the long run. This results in allocative expenditure-switching effects on export quantities, which build up over time, suggesting a role for quantity adjustment frictions in addition to price stickiness. Our findings shed light on the mechanisms that make or break a dominant currency and the consequences it has for the international transmission of shocks.Item Open Access A CLOSER LOOK AT HOW AND WHEN FAMILY-SUPPORTIVE SUPERVISION INFLUENCE WORK INTERFERENCE WITH FAMILY: THE ROLES OF FAMILY-ROLE OVERLOAD AND TASK CRAFTING(The International Journal of Human Resource Management, 2021) Walumbwa, Fred O.; Christensen-Salem, Amanda; Babalola, Mayowa T.; Kasimu, Paul; Garba, Omale A.; Guo, LiangAlthough family–supportive supervision (FSS) has been identified as one of the most useful social resources for reducing the occurrence of work interference with family (WIF), relatively little is known about the boundary conditions and the underlying mechanisms through which this relationship occurs. Drawing on conservation of resources (COR) theory, we examined how and when FSS relates to WIF in two field studies, focusing on family–role overload as a moderator and employee task crafting as a mediator. Results from Study 1, using multi-wave data from a high-technology firm, showed that family role–overload moderated the relationship between FSS and WIF such that the relationship was stronger for employees with more family role–overload than for those with less family role–overload. Results from Study 2, using multi-wave data from employees working in different industries, revealed that employee task crafting mediated the interactive effect of FSS and family–role overload on WIF. Implications of these findings for research and practice are discussed.Item Open Access THE IMPACT OF ELECTRICITY PRICES ON EUROPEAN MANUFACTURING JOBS(APPLIED ECONOMICS, 2022) Bijnens, Gert; Konings, Jozef; Vanormelingen, StijnIncreased investment in clean electricity in combination with a rising cost of carbon will most likely lead to higher electricity prices. We examine the impact from changing electricity prices on European manufacturing employment and find a negative elasticity for the most electricity-intensive sectors. Since these sectors are unevenly spread across countries and regions, the negative employment impact from increasing electricity prices will also be unevenly spread. Policymakers should be well aware of this and take mitigating actions to ensure a positive public sentiment towards environment-related price increases. (JEL J23, H23, Q28, Q43)Item Open Access CORPORATE GOVERNANCE IN RUSSIAN STATE-OWNED ENTERPRISES: REAL OR SURREAL?(Asian Journal of Comparative Law, 2022) Nurgozhayeva, RozaThe narrative that defines privatisation, corporatisation, and the separation of ownership and regulatory functions as the key prerequisites for a successful state-owned enterprises’ (SOE) governance structure represents the literature's leading approach. This approach has been embedded in national laws and policies across many countries. Nonetheless, some legal scholars have scrutinised and questioned this single-minded perspective, emphasising the impact of existing institutional conditions and calling for an alternative understanding of corporate governance dynamics in different SOEs. Notwithstanding a vigorous debate on SOEs, it almost exclusively focuses on China, while Russia, being another large state-driven economy, has been missing. This article fills this gap and offers a comparative and critical perspective on the state ownership system in Russia. The analysis of Russian SOEs reveals classic governance and incentive problems attributable to state ownership. However, the question is how despite close affiliation to the State and high transaction costs caused by state interference, Russian SOEs have gained a substantial international market presence. This article answers this paradox.Item Open Access PUTTING CUSTOMER SERVICE AT RISK: WHY AND WHEN FAMILY OSTRACISM RELATES TO CUSTOMER-ORIENTED BEHAVIORS(International Journal of Hospitality Management, 2022) Rahaman, H M Saidur; Kwan, Ho Kwong; Babalola, Mayowa T.; Chen, HaixiaoThis study examines why and when family ostracism can have an adverse effect on employees’ customer service behaviors. Drawing on self-determination theory (SDT), we theorize the existence of moderated multi-mediation relationships between family ostracism and employees’ customer service behaviors (i.e., customer-oriented organizational citizenship behaviors and customer-oriented voice behaviors) through harmonious passion for work and customer orientation, with social skills playing a moderating role. We used a time-lagged design to collect data from service employees in China. Our results show that controlling for workplace ostracism at Time 1, the relationship between family ostracism and employees’ customer service behaviors is negative and serially mediated by both harmonious passion for work and customer orientation. Furthermore, employees who are less socially skilled are more prone to the adverse effects of family ostracism. Last, female employees are more vulnerable to the effects of family ostracism on their customer service.Item Open Access BRINGING EXCITEMENT TO EMPIRICAL BUSINESS ETHICS RESEARCH: THOUGHTS ON THE FUTURE OF BUSINESS ETHICS(Journal of Business Ethics, 2022-09-15) Babalola, Mayowa T.; Bal, Matthijs; Cho, Charles H.; Garcia‑Lorenzo, Lucia; Guedhami, Omrane; Liang, Hao; Shailer, Greg; Gils, Suzanne vanTo commemorate 40 years since the founding of the Journal of Business Ethics, the editors-in-chief of the journal have invited the editors to provide commentaries on the future of business ethics. This essay comprises a selection of commentaries aimed at creating dialog around the theme Bringing Excitement to Empirical Business Ethics Research (inspired by the title of the commentary by Babalola and van Gils). These editors, considering the diversity of empirical approaches in business ethics, envisage a future in which quantitative business ethics research is more bold and innovative, as well as reflexive about its techniques, and dialog between quantitative and qualitative research nourishes the enrichment of both. In their commentary, Babalola and van Gils argue that leadership research has stagnated with the use of too narrow a range of perspectives and methods and too many overlapping concepts. They propose that novel insights could be achieved by investigating the lived experience of leadership (through interviews, document analysis, archival data); by focusing on topics of concern to society; by employing different personal, philosophical, or cultural perspectives; and by turning the lens on the heroic leader (through “dark-side” and follower studies). Taking a provocative stance, Bal and Garcia-Lorenzo argue that we need radical voices in current times to enable a better understanding of the psychology underlying ethical transformations. Psychology can support business ethics by not shying away from grander ideas, going beyond the margins of “unethical behaviors harming the organization” and expanding the range of lenses used to studying behavior in context. In the arena of finance and business ethics, Guedhami, Liang, and Shailer emphasize novel data sets and innovative methods. Significantly, they stress that an understanding the intersection of finance and ethics is central to business ethics; financial equality and inclusion are persistent socio-economic and political concerns that are not always framed as ethics issues, yet relevant business policies and practices manifest ethical values. Finally, Charles Cho offers his opinion on the blurry line between the “ethical” versus “social” or “critical” aspects of accounting papers. The Journal of Business Ethics provides fertile ground for innovative, even radical, approaches to quantitative methods (see Zyphur and Pierides in J Bus Ethics 143(1):1–16, https://doi.org/10.1007/s10551-017-3549-8, 2017), as part of a broad goal of ethically reflecting on empirical research.Item Open Access MISPRICED INDEX OPTION PORTFOLIOS(Financial Management, 2019) Constantinides, George M.; Czerwonko, Michal; Perrakis, StylianosIn model-free out-of-sample tests, we find that the optimal portfo lio of a utility maximizing investor trading in the S&P500 Index, cash, and index options bought at ask and written at bid prices stochas tically dominates the optimal portfolio without options and yields returns with higher mean and lower volatility in most months from 1990 to 2013. Unlike earlier claims of overpriced puts, our portfolios include mostly short calls and are particularly profitable when matu rity is short and volatility is high. Similar results are obtained with the CAC and DAX indices. Neither priced factors nor a nonmonotonic stochastic discount factor explains the excess returns.Item Open Access RULE-MAKING, RULE-TAKING OR RULE-REJECTING UNDER THE BELT AND ROAD INITIATIVE: A CENTRAL ASIAN PERSPECTIVE(The Chinese Journal of Comparative Law, 2020-05-21) Nurgozhayeva, RozaSince the Belt and Road Initiative (BRI) was announced in 2013, China’s expanding economic, geopolitical, and business presence demonstrates its eagerness to play a more significant role in the systems of international governance and law. The BRI’s scale and influence have captured immense attention among politicians, policymakers, experts, and academics. They offer numerous interpretations of the BRI’s global and regional impact. If China claims to be a stakeholder in the international system, what are the implications for the legal systems of the BRI countries and their governance systems? To what extent does the BRI lead to the expansion of China’s institutions and legal norms? How can the BRI countries ensure that their interests in BRI projects are adequately protected? This article analyses the Central Asian perspective on the BRI. Central Asia and Kazakhstan, in particular, have strategic relevance to the BRI. Remarkably, the BRI was launched during the visit of President Xi Jinping to Kazakhstan, which means that Kazakhstan plays a critical transit role as China’s pivot to Europe. Although the BRI is an ambitious global strategy, it has provoked much criticism, especially in liberal countries. Despite China’s efforts to promote the BRI as a win–win endeavour, China’s increased economic and political influence has already led to heightened scrutiny of its role in shaping ideology, economic development, and the legal and institutional landscapes. While many academic publications address different perspectives of the BRI, the context behind BRI projects requires further attention. This article contributes to the literature by studying BRI projects in Kazakhstan and their legal framework and governance.Item Open Access WHERE DOES CORPORATE SOCIAL CAPITAL MATTER THE MOST? EVIDENCE FROM THE COVID-19 CRISIS(Finance Research Letters, 2021-11-10) Fiordelisi, Franco; Galloppo, Giuseppe; Lattanzio, GabrieleFirms with high social capital systematically outperform their peers during periods of economic distress. Yet, it is not clear under which institutional conditions corporate social capital is the most valuable to shareholders. By studying the performance of 1,789 firms in 27 countries during the initial phases of the COVID-19 pandemic, we document that the resilience effect of social capital is heterogeneous across countries. We identify the flexibility of a country's labor market as a critical determinant of corporate's returns on social capital-related investments. These findings are consistent with social capital hedging firms against systematic shocks by mitigating employee-related litigation risk.Item Open Access HOW LOCKDOWN CAUSES A MISSING GENERATION OF START UPS AND JOBS(International Economics and Economic Policy, 2021-08-21) Karimov, Shyngys; Konings, JozefThis paper explores the impact of the COVID-19 lockdown on aggregate employment in Belgium. To this end, we use microdata of all Belgian frms and apply a machine learning-based approach to simulate the impact of the lockdown on employment growth under various economic scenarios. In doing so, we distinguish between start-ups and incumbent frms with both short and long-term efects. In the short term, we expect to see signifcant losses of employment coming mainly from mature incumbent frms. In the long term, the missing generation of start-ups formed during the lockdown will have a signifcant and growing efect of slowing down the employment growth even a decade after the lockdown.Item Open Access BUILDING COHESIVE TEAMS—THE ROLE OF LEADERS’ BOTTOM-LINE MENTALITY AND BEHAVIOR(Sustainability, 2021-07-19) Riisla, Katrin; Wendt, Hein; Babalola, Mayowa T.; Euwema, MartinTeam cohesiveness plays a crucial role in effective teamwork, innovation, and improved performance, and as such, its development among team members is an essential part of team management. However, it may be disregarded by leaders with a high bottom-line mentality (BLM; a single-minded focus on the bottom line at the expense of other values or priorities). These leaders may show little interest in other priorities, such as ethical, social, or environmental considerations, and may be tempted to push their followers to go above and beyond what is expected, even if it means bending the rules, cutting corners, or engaging in other ethically problematic behaviors. We argue that although a team leader’s BLM may motivate followers to come together around the pursuit of a common goal, it may come at the expense of nurturing healthy interpersonal relationships, trust, and other important social resources within the team. Specifically, we argue that the way leaders with a high BLM approach their goals may affect team cohesiveness, and that it is particularly negative for female leaders. Using a large multi-national study, we found that this happens through increased directive and lowered participative leader behaviors.Item Open Access BUILDING CHARACTER: THE FORMATION OF A HYBRID ORGANIZATIONAL IDENTITY IN A SOCIAL ENTERPRISE(Wiley, 2020-09) Cornelissen, Joep P.; Akemu, Ona; Jonkman, Jeroen G. F.; Werner, Mirjam D.The formation of a hybrid organizational identity is a significant challenge for many social enterprises. Drawing on in-depth longitudinal data from the first three years of a successful social enterprise – Fairphone, founded in Amsterdam – we induce an empirically grounded theoretical model of how a hybrid organizational identity is formed. We identify a general process of organizational identity formation, with founders, leaders and members experimenting with different organizational characters describing ‘who they are’ as well as with alternative social impact strategies defining ‘what they do’. As part of this experimental process, we elaborate the role of a key leadership process – ‘rekeying’, which involves leaders re-figuring prior understandings into more dual readings – which we found facilitates ongoing adaptation and helps members of the organization to become progressively better able at combining multiple objectives and values as part of a shared hybrid identity. Our theoretical model of hybrid organizational identity formation has a number of direct implications for ongoing research on organizational identity formation and hybrid organizations.Item Open Access Confronting the Digital: Doing Ethnography in Modern Organizational Settings(SAGE Publications, 2020-04-01) Akemu, Onajomo; Abdelnour, SamerDigital technologies pervade modern life. As a result, organizational ethnographers must contend with informants interacting in face-to-face and digitally mediated encounters (e.g., through email, Facebook Messenger, and Skype). This overlap of informants’ digital and physical interactions challenges ethnographers’ ability to demonstrate authenticity and multivocality in their accounts of contemporary organizing. Drawing on recent theorizing about the nature of digital artifacts and two cases of ethnographic fieldwork, we argue that digital artifacts afford ethnographers different modes of being co-present with research participants: digital as archive and digital as process. We offer guidelines to researchers on how to deploy these modes of co-presence in order to improve authenticity and multivocality in ethnographic studies of modern organizations. We also explore the implications for methodological concerns such as ethics, analytical choice, and reflexivity.Item Open Access Stochastic Spanning(AMER STATISTICAL ASSOC, 2018) Arvanitis, Stelios; Hallam, Mark; Post, Thierry; Topaloglou, NikolasThis study develops and implements methods for determining whether introducing new securities or relaxing investment constraints improves the investment opportunity set for all risk averse investors. We develop a test procedure for “stochastic spanning” for two nested portfolio sets based on subsampling and linear programming. The test is statistically consistent and asymptotically exact for a class of weakly dependent processes. A Monte Carlo simulation experiment shows good statistical size and power properties in finite samples of realistic dimensions. In an application to standard datasets of historical stock market returns, we accept market portfolio efficiency but reject two-fund separation, which suggests an important role for higher-order moment risk in portfolio theory and asset pricing. Supplementary materials for this article are available online.Item Open Access Numerical solution of an inverse problem of determining the parameters of a source of groundwater pollution(Eurasian Journal of Mathematical and Computer Applications, 2017-01-01) Turganbayev, Y. M.; Karchevsky, A. L.,; Rakhmetullina, S. J.; Beldeubayeva, Z. H.T.The article deals with an inverse problem of determining parameters of groundwater pollution sources. We test three ways to solve the problem on the simulated data for a simple case of contamination. We discover that, in the presence of noise in the data of the inverse problem, the first method does not produce satisfactory recovery results, while the second and third ones are comparable in accuracy of the recovery of required parameters. Taking into account the ease of implementation, the speed of computing and parallelization feasibility the second method of solving the inverse problem is found to be most preferable. We also propose a method of finding pollution parameters in general case...Item Open Access Зачем рынкам нужно «созидательное разрушение»(Капитал, 2017-11-27) Йохец (Jochec), Марек (Marek)Недавно я побывал на одной конференции и встретил там бельгийского профессора из Брюсселя. Он поинтересовался о жизни в Чешской Республике (моей родине, где состоялась конференция). А узнав, что теперь я работаю в Казахстане, ему было интересно узнать и о жизни там. Поскольку оба мы экономисты, вскоре наш разговор перешел к экономике. Можно ли достойно жить в текущей глобальной экономической ситуации? Есть ли у людей работа, обеспечивающая достаточный доход? Снижаются ли уровень и качество жизни, как это происходит (по его словам) в Бельгии?...Item Open Access Размышления о бюрократии. Проблема с бюрократией остается острой.(Капитал, 2018-01-28) Йохец (Jochec), Марек (Marek)В повседневной жизни и на работе я нередко сталкиваюсь с бюрократией. Также слышу от людей, работающих в различных организациях Казахстана, что проблема с бюрократией остается острой. И не я один замечаю это. Менеджмент гуру Ицхак Адизес подметил ту же проблему в своем интервью, опубликованном под названием «Как избавить Самрук от бюрократии» (National Business, май 2017 г.).
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