Corporate social responsibility and factors affecting it : an empirical evidence from the Indonesian capital market

Purpose: This study aims to evaluate the influence of family ownership and profitability on corporate social responsibility disclosure with firm size as a control variable in manufacturing companies listed on the Indonesia Stock Exchange. Design/Approach/Methodology: Implementing a purposive sampling method, this study ended up with 32 manufacturing companies as a sample for the 2014-2018 periods (i.e., 160 observations). Findings: By using OLS regression, the findings show that profitability has a positive influence on CSR disclosure, meanwhile for family ownership does not. Moreover, firm size as a control variable influences positively on CSR disclosure. Practical Implications: With its limitation such as the relatively low number of samples, this study contributes to providing empirical evidence on factors influencing CSR disclosure in an emerging market context, i.e., Indonesia. Originality/Value: There is not a similar research using data from Indonesia neither the firm size as a control variable in the proposed model.peer-reviewe

Globalization trends and regional development - dynamics of FDI and human capital flows

This is a post-peer-review, pre-copyedit version of an article published in [European Journal of Development Research]. The definitive publisher-authenticated version [European Journal of Development Research 26, 160-161 (January 2014)] is available online at: http://www.palgravejournals.com/ejdr/journal/v26/n1/full/ejdr201354a.htmlApparently rendered irrelevant by globalization, regions have been rediscovered as a force in economic and social development by both scholars and policymakers. Localized inter-personal ties and networks are seen as important resources (Woolcock and Narayan, 2000), and the local supply of entrepreneurs has emerged as a key determinant of future economic growth (Chatterji et al, 2013)

Migrant Labour in the Russian Economy: a Burden or a Blessing?

The article discusses the potential threats and benefits of external labour migration for the Russian economy through establishing cause-effect relations between the migration processes and the current economic situation. The analysis of statistical data on the development of Russian regions and on the demographic, migration, and financial trends in the country allows us to assess the potential risks of using the labour of external migrants. External migration may damage the Russian economy: it may result in depreciation of the Russian rouble; a growing de cit in the balance of payments; and in an increasing loads on the country’s pension system. We should not forget, however, that external migration can also bring a number of benefits: it can rejuvenate the population and supply human resources to those Russian regions which experience the shortages of the workforce for blue-collar jobs. Moreover, migrants make contributions to the federal budget by paying fees for work patents. The state government may use the results of this research to improve its migration and labour policy and to develop a state program to stimulate external and internal migrants to find employment in workforce shortage areas. This research shows the connection between labour migration and economic activity of local population; reveals the factors of external labour migration; and analyzes the effect migration has on the host country

Location Advantages, Governance Quality, Stock Market Development and Firm Characteristics as Antecedents of African M&As

This study explores firm- and country-specific antecedents of African M&As. We use one of the largest datasets to-date consisting of 1,490 unique African firms (11,183 firm-year observations) from 1996 to 2012. Our results suggest that improvements in time-varying country-level factors, including location advantages (market size, human capital and efficiency opportunities), national governance quality, and stock market development are associated with an increase in the volume of M&A activity. Consistent with the resource-curse paradox, high resource endowments are not associated with increased levels of M&A. In support of the management inefficiency but contrary to the traditional firm size hypotheses, African targets are generally characterised by declining stock returns and accounting profitability but are more likely to be larger firms; suggesting the presence of information asymmetry concerns in their selection. Notwithstanding, we find evidence of heterogeneity across countries with inconsistent support for established target prediction hypotheses. A model which combines firm- and country- specific factors better explains observed variations in African M&A activity

The Coase theorem and idea of transaction costs – their significance for the development of economics

Ronald Coase drew the attention of main stream economists to the significance of social coordination in the economic system. The key role was played here by much-disputed political conclusions drawn from Coase's idea as well as by his famous theorem and the zero transaction costs theory. The study focuses on the division of labor as a starting point for analysis of zero transaction costs. From this vantage point, the best example of the world of zero transaction costs is Robinson Crusoe's island. However, very often the concept of zero transaction costs is associated with the assumption of perfect information. If we stretch this assumption to its logical limits, then there is no market mechanism and all impediments related to the central planning system disappear. This interpretation is in line with the Hayekian interpretation of the market as a mechanism for acquiring knowledge.Ronald Coase skierował uwagę ekonomistów głównego nurtu na znaczenie społecznej koordynacji w systemie ekonomicznym. Kluczową rolę odegrały tu zarówno kontrowersyjne wnioski polityczne wyprowadzane z idei Coase'a, jak i słynny teoremat i koncepcja zerowych kosztów transakcji. W artykule uwaga skoncentrowana jest na podziale pracy jako punkcie wyjścia do analizy zerowych kosztów transakcji. Z tego punktu widzenia najlepszym przykładem świata zerowych kosztów transakcji jest wyspa Robinsona. Najczęściej jednak koncepcja zerowych kosztów transakcji wiązana jest z założeniem doskonałej informacji. Jeżeli założenie to doprowadzamy do jego logicznych granic nie ma mechanizmu rynkowego oraz znikają wszelkie trudności systemu centralnego planowania. Ta interpretacja jest zbieżna z hayekowską interpretacją rynku jako mechanizmu odkrywania wiedzy

The Debate Widens - Introduction

Shortly after Don Patinkin’s initial assault on Milton Friedman, Thomas Humphrey (chapter 14 [1971], 12) highlighted the importance of the contributions (“overlooked by both Patinkin and Friedman”) made to the quantity theory between 1930-50 by four non-Chicagoan economists: Carl Synder, Lionel Edie, Lauchlin Currie and Clark Warburton. There are similarities between Friedman’s version of the Chicago monetary tradition and Currie’s Supply and Control of Money in the United States (1934). Also, Currie’s (1962 [1934]) essay on ‘The Failure of Monetary Policy to Prevent the Depression of 1929-32’ interpreted the Great Depression as a Great Contraction in a manner which foreshadowed the later work by Friedman and Anna Schwartz (1963). Humphrey commented that “oddly enough, however, [Lloyd] Mints and Friedman do not seem to be aware of the extent to which their criticisms were anticipated by Currie, for they cite him infrequently”. In the exchange that followed two further names were added to the list of overlooked quantity theorists: Arthur Marget and James Angell (Patinkin chapter 16 [1974], 28; Humphrey chapter 17 [1973], 462). Both Patinkin and Humphrey expressed curiosity about these omissions. Currie (chapter 15 [1972]) provides an additional perspective on Humphrey’s contribution in a note that is published here for the first time. ISBN: 185196767

The Principles of Exchange Rate Determination in an International Finance Experiment

This paper reports the first experiments designed to explore the behavior of economies with prominent features of international finance. Two “countries,” each with its own currency, were created. International trade could take place only through the operation of markets for currency. The law of one price and the flow of funds theory of exchange rate determination were used to produce general equilibrium models that captured much of the behavior of the economies. Prices of goods, as well as the exchange rate, evolve over time toward the predictions of the models. However, both the law of one price and purchasing power parity can be rejected for reasons that do not appear in the literature. Patterns of international trade were as predicted by the law of comparative advantage

Darwinism, probability and complexity : market-based organizational transformation and change explained through the theories of evolution

The study of transformation and change is one of the most important areas of social science research. This paper synthesizes and critically reviews the emerging traditions in the study of change dynamics. Three mainstream theories of evolution are introduced to explain change: the Darwinian concept of survival of the fittest, the Probability model and the Complexity approach. The literature review provides a basis for development of research questions that search for a more comprehensive understanding of organizational change. The paper concludes by arguing for the development of a complementary research tradition, which combines an evolutionary and organizational analysis of transformation and change