Much current work in the social sciences seeks to understand the effects of trust and social capital on economic and political outcomes. However, the sources of trust remain unclear. In this article, the authors articulate a basic theory of the relationship between institutions and trust. The authors apply this theory to industrial districts, geographically concentrated areas of small firm production, which involve extensive cooperation in the production process. Changes in power relations affect patterns of production;the authors suggest that they (...) also have knock-on consequences for trust and cooperation among actors. (shrink)

This study empirically examines whether firms’ environmental capital expenditures impact institutional investors’ investment decisions in the Chinese market. We particularly examine the impact of ownership type on the relationship of environmental capital expenditures and the behavior of different types of institutional investors by classifying institutional investors into two categories, short-term and long-term investors. In addition, this study further investigates whether environmental capital expenditures related to ownership type increase firm value. We find that long-term (...) class='Hi'>institutional investors tend to invest in state-owned firms making environmental capital expenditures. Results also indicate that, with governmental backing and encouragement, the market value of SOEs making more environmental capital expenditures is likely to increase. However, no similar results are found for non-SOEs. (shrink)

ABSTRACT:We focus on the core institution of the capital market and the institutional work of professional service firms that provide ratings on corporate issuers, initially in a bid to maintain this institution, which suffered when those involved relied solely on information from the issuers themselves. Through our analysis we identify a new type of decoupling—complicit decoupling. Complicit decoupling evolves over time, beginning with the creation of a new practice, here corporate ratings as a form of policing work, which (...) emerges to help to maintain a core institution. This practice is then adopted, implemented and later becomes decoupled. Exposure does not undermine the legitimacy of the practice because external actors collude in the ‘window dressing’ and, because it has become normalized, only partial repairs are enacted. It is by nature field-level institutional work, benefiting the majority of the field and inherently involves a violation of promise keeping. We conclude with implications for managers and behavioral ethics researchers. (shrink)

This article makes the case for a specific variety of what we call Collective Capital Institutions (CCIs), by returning to the idea of Wage-Earner Funds (WEFs) – a 1970s Swedish policy proposal designed gradually to shift ownership and control over parts of the economy to democratically controlled institutions. We identify two attractive rationales in favour of such a scheme and argue that both can fruitfully be transposed to the current worldwide economic situation. The egalitarian rationale is that WEFs could (...) help in the pursuit of equality by giving a wider set of people a stake in collectively owned companies and a right to their profits. The democratic rationale is that WEFs redistribute not only these profits, but also the power over economic decisions made within companies. We then contrast such schemes for collective capital ownership with the similar but much more privatised proposals set out in, for instance, John Rawls's idea of a ‘property-owning democracy’. We argue that CCIs ultimately are more likely to contribute to the development of the ‘sense of justice’ within society that is needed for a stable just society. We conclude that CCIs deserve a great deal more exploration in academic and political discussions of egalitarian economic systems. (shrink)

In Capital and Ideology, Thomas Piketty poses the intriguing thesis that ideology, or ideas about how society should be governed, is a powerful determinant for how society will be governed-as long as we take advantage of historical switch points. In this review essay I challenge this thesis by pointing out that many powerful ideas have run aground because of countervailing institutional arrangements. Oftentimes, they are leftovers from earlier times that precede the change and are now strategically employed for (...) reconstituting private wealth. Clearly, ideology and institutions are deeply intertwined. I credit Piketty for putting ideology on the map of institutionalists in history, political sciences, sociology, and law. I therefore call for more research on the interaction of ideas and institutions. (shrink)

Frequent and open interaction between venture capitalists and entrepreneurs is necessary for venture capital investments to occur. Increasingly, these investments are made across jurisdictions. The vast majority of these cross-border investments are carried out in a syndicate of two or more VCs, indicating the effects of intra-industry networks needing further analysis. Using China as a model, we provide a novel multidimensional framework to explain cross-border investments in innovative ventures across developed and emerging economies. By analyzing a unique international dataset, (...) we examine worldwide venture capital investment flows from 2000–2012 and consider the effects of geographical, cultural, and institutional proximity as well as institutional and relational trust. We find trust to mitigate the negative effects of geographical and cultural distance, where institutional trust is more relevant for investments in emerging economies, and relational trust is more relevant for investments in developed economies. (shrink)

_Against Capital Punishment_ offers an innovative proceduralist argument against the death penalty. Worries about procedural injustice animate many popular and scholarly objections to capital punishment. Philosophers and legal theorists are attracted to procedural abolitionism because it sidesteps controversies over whether murderers deserve death, holding out a promise of gaining rational purchase among death penalty retentionists. Following in this path, the book remains agnostic on the substantive immorality of execution; in fact, it takes pains to reconstruct the best arguments (...) for capital punishment and presumes the appropriateness of execution in limited cases. At the same time, the book contends that the possibility of irrevocable mistakes precludes the just administration of the death penalty. The heart of _Against Capital Punishment_ is a philosophical defense of the well-known irrevocability argument, which analyzes the argument’s premises, establishes their validity, and vindicates them against objections. The central claim is that execution violates the principle of remedy, which requires legal institutions to remedy their mistakes and to compensate those who suffer from wrongful sanctions. The death penalty is repellent to the principle of remedy by dint of its irrevocability. The incompatibility of remedy and execution is the crux of the irrevocability argument: because the wrongly executed cannot enjoy the obligatory remedial measures, execution is impermissible. _Against Capital Punishment_ also reveals itself to be free from two serious defects plaguing other versions of proceduralism: the retributivist challenge and the problem of controversial consequences. (shrink)

We show unintended consequences of quota regulations to get women on boards. Board members may have different characteristics, and even among women, there are variations. We assume that the characteristics of the board members have an influence on their contributions to boards, to businesses as well as to society. In this paper, we argue that different types of societal pressure to get women on boards have an influence on the social capital characteristics of the women getting multiple board memberships. (...) The paper is drawing on institutional theory and social capital theory, and we distinguish between mimetic, normative, and coercive types of pressure. Through a cluster analysis of 58 Italian “golden skirts”, we show that different types of societal pressure may lead to differences in social capital characteristics. The study has implications for the ongoing international debate about women and diversity on boards, and we propose developing a pressure theory for getting women on boards. (shrink)

Presented at Amer Agri. Econ Assoc. annual meetings, Long Beach, CA, July 28 – 31, 2002..

This article examines the work of professional service firms (PSFs) in their relationships with public corporations; work that is designed to ensure that investors and potential investors have information that will enable them to participate in the capital markets. Using an institutional theory lens, we view these efforts by PSFs as institutional maintenance work and specifically analyze their work related to policing (i.e., rating), enabling (i.e., tutoring), and embedding and routinizing (i.e., collaborating) that helps to support the (...) capital market as a core institution in society. We illustrate how there is a “dark” side to each of these forms of institutional work that exists because of ongoing conflicts of interest within and between their work practices. This dark side has the unintended consequence of producing often biased information or information unavailable to many. When a crisis brings this bias to light, some repair is introduced but often not enough to alleviate the distortion. Our contribution is, therefore, to shed light on the dark side of institutional maintenance work and to explore why repair is increasingly necessary, but often only partially effective. (shrink)

In this article, the hypothesis according to which the institutional change is determined by the mobilization of social capital is exposed. It is analysed what consequences derived from this fact in relation to the processes of deinstitutionalization of the policy. It proposes an interpretation of academically relevant results about the meaning of the term ‘deinstitutionalization’, explains some of the most important antecedents on institutional theory and, fially, proposes some fundamental ideas to advance the philosophical reflction about the (...) so-called new institutionalism. (shrink)

Even if religiosity has long been introduced as the major cause for backwardness by anti-religion philosophers, the divine religion has been an important source of value for individuals and society, encouraging them to shape economic and sociocultural outcomes. In this manner, religiosity and religious capital (RC) are the stimuli for society-wide development. Against this background, religion can have positive implications for enriching individual and social economy. Assigning tasks, providing guidance on productivity and more effort, living a purposeful life, establishing (...) effective socio-economic institutions and assessing functional behaviours in organisational settings are accordingly among the ways in which RC induces economic behaviours. On the other hand, job engagement (JE) has been one of the relatively common concepts within the novel approaches to human resource management. Considering employment and the promotion of standard Islamic culture, how religion and JE are associated is thus of utmost importance. Hence, this study aimed to investigate the effect of RC on JE among 2500 Malaysian Muslim nurses working in Kuala Lumpur and Penang hospitals during the coronavirus disease 2019 (COVID-19) pandemic in 2021, as the statistical population selected via random sampling. A standardised questionnaire was also administered as the data collection tool, whose validity and reliability were confirmed. The SPSS and LISREL software packages were further utilised to analyse the data. The study results revealed that RC had a significant positive effect on nurses’ JE in the course of COVID-19 (p = 0.83, t = 11.94).Contribution: The research findings suggest that reinforcing RC in Islamic societies, such as Malaysia, even during the COVID-19 pandemic, affects nurses’ sense of hope, faith and beliefs regarding their capabilities to achieve career success. (shrink)

The way of our living and working has changed intensely throughout the past half-century. The era we live in is interlinked with rapid technological changes, paving the way for digitalization. The students are considered digital natives and are expected to have e-learning abilities to improve their academic effectiveness. However, digital readiness is an important factor that can play a valuable role in boosting students’ e-learning abilities and satisfaction. The previous studies of students’ e-learning abilities revealed the lack of students’ digital (...) readiness for academic achievements. Therefore, the present study aims to examine the role of digital readiness in the e-learning satisfaction of students. Based on the theory of motivation, the present study attempts to check the association of digital readiness with e-learning satisfaction. The current study also determines the relationship of digital readiness with entrepreneur psychological capital. Further, this study examines the correlation of entrepreneur psychological capital with e-learning satisfaction. The present study also assumes the mediating role entrepreneur of psychological capital and moderating role of mindfulness. For empirical analyses, this study gathered data from 376 music learning students of entrepreneur training institutes in China through a structured questionnaire method using a convenient sampling technique. This study applied partial least square structural equation modeling for empirical analyses using Smart PLS software. The present study confirmed that digital readiness positively correlates with e-learning satisfaction and psychological capital. The findings also acknowledged that psychological capital positively enhances e-learning satisfaction. The results also confirmed that psychological capital mediates the association between digital readiness and e-learning satisfaction. However, the outcomes revealed that mindfulness does not moderate the association between digital readiness and e-learning satisfaction. On the other hand, the findings acknowledged that mindfulness moderates the relationship between psychological capital and e-learning satisfaction. In addition, this study’s findings also serve the literature by providing important theoretical and practical implications. This study points out that digital readiness is an important antecedent to increasing students’ learning satisfaction and performance. The findings also suggest that students’ mindfulness could play a bridging role in enhancing their performance. (shrink)

Under a basic capital grant policy, every citizen receives a large capital grant as a right, typically in their early adulthood. Is BC part of the institutional framework of a just economy? Starting from John Rawls's discussion of just economic systems, this article clarifies Rawls's reasons for thinking we need to complement welfare state policies with property-owning democracy and/or liberal socialist policies. It then seeks to clarify the grounds specifically for BC as a particular policy of the (...) property-owning democracy type, and considers in depth what it adds to a policy of basic income. (shrink)

"Social capital" can be considered to be the product of co-operationbetween various institutions, networks and business partners. It haspotential as a useful tool for business ethics. In this article weidentify categories pertinent to the measurement of social capital insmall and medium sized enterprises (SMEs). By drawing on three differentsectors, one business-to-business service, one business-to-customerservice, and one manufacturing, we have enabled the consideration ofsectoral differences. We find sector to play an important part inrelation to business practices and social (...) class='Hi'>capital. Our inclusion of SMEsfrom Germany and the United Kingdom has called attention to cultural,institutional and economic aspects of two regions of Europe and how theycan influence SME social capital. Social capital is found to beinfluenced by context and, in particular, institutional arrangements. Inanalysing the data we note particular areas of interest from the pointof view of SMEs and social capital as being: formal engagement,networking within sectors, networking across sectors, volunteerism andgiving to charity, and finally a focus on why people engage. We concludethat there is a considerable amount of further research needed on socialcapital, SME''s and business ethics. (shrink)

The concept of social capital refers to the ways in which people make use of their social networks in "getting ahead." Social capital isn't just about the connections in networks, but fundamentally concerns the distribution of resources on the basis of exchanges. This volume focuses on how social capital interacts with social institutions, based on the premise that markets, communities, and families are the major contexts within which people meet and build up social networks and the foci (...) to create social capital. Featuring innovations in thinking about exchange mechanisms, resource distribution, institutional logics, resource diversity, and the degree of openness or closure of social networks, these chapters present some of the most important advances in this essential field. Paralleling these theoretical developments, the chapters also improve practical methodological work on social capital research, using new techniques and measurement methods for the uncovering of social logics. (shrink)

Communication as work: we have recently experienced a profound transformation in the processes of production. While the assembly line excluded any form of linguistic productivity, today, there is no production without communication. The new technologies are linguistic machines. This revolution has produced a new kind of worker who is not a specialist but is versatile and infinitely adaptable. If standardized mass production was dominant in the past, today we produce an array of different goods corresponding to specific consumer niches. This (...) is the post-Fordist model described by Christian Marazzi in Capital and Affects. Tracing the development of this new model of labor from Toyota plants in Japan to the most recent innovations, Marazzi's critique goes beyond political economy to encompass issues related to social life, political engagement, democratic institutions, interpersonal relations, and the role of language in liberal democracies.This translation at long last makes Marazzi's first book available to English readers. Capital and Affects stands not only as the foundation to Marazzi's subsequent work, but as foundational work in post-Fordist literature, with an analysis startlingly relevant to today's troubled economic times.This Semiotext edition includes the afterword Marazzi wrote for the 1999 Italian edition. (shrink)

Given the nature and importance of Islamic banks in recent times, we can expect them to have significant intellectual capital anchored in their Sharia‐based knowledge and expertise. However, we know very little or nothing about how and why intellectual capital‐related information is provided in their corporate reports. We fill this gap in our existing knowledge of the field with a view to enhance relevant literature. As far as we know, this article is one of the earliest exploratory attempts (...) to examine intellectual capital reporting practices of an Islamic bank. We have undertaken a longitudinal (2001–2015) case study related to the intellectual capital reporting practices of an Islamic bank. Key results include significant rise of intellectual capital reporting over time, dominance of internal capital‐related items in intellectual capital reporting profile and the dynamics of changes in intellectual capital reporting practices over time. Through an institutional theory lens, we explain that this is due to the changes in the external institutional environment and various intra‐organisational factors such as strong ethical culture, unique knowledge base (Sharia), and corporate governance regime. (shrink)

In this paper we report on empirical research which investigates social capital of Small and Medium Sized Enterprises (SMEs). Bringing an international perspective to the work, we make a comparison between 30 firms located in West London and Munich in the sectors of food manufacturing/production, marketing services and garages. Here we present 6 case studies, which we use to illustrate the early findings from this pilot project. We identify differences in approach to associational membership in Germany and the U.K., (...) with a greater propensity to "belong" to an official group in Germany. We distinguish clear sectoral similarities across the countries, and indications that certain personality types will seek out engagement and find time beyond busy work life schedules, often merging work/home/leisure life and friends. Some of our cases illustrate that formal institutions, networks and mutual relationships can develop social capital for the SME, although we should take care not to assume a universal win-win situation for those who are engaged and contribute to the common good. Some of the obstacles to cooperation and civic engagement are outlined. (shrink)

Thomas Piketty’s Capital and Ideology offers a powerful critique of ideological justifications for inequality in capitalist societies. Does this mean we should reject capitalist institutions altogether? This paper defends some aspects of capitalism by explaining the epistemic function of market economies and their ability to harness capital to meet the needs of the relatively disadvantaged. We support this classical liberal position with reference to empirical research on historical trends in inequality that challenges some of Piketty’s interpretations of the (...) data. Then we discuss the implications of this position in terms of limits on the efficacy of participatory governance within firms and the capacity of the state to levy systematic taxes on wealth. (shrink)

Christian Marazzi's first book: a post-Fordist classic on the roots to economic crises in the contemporary age. Communication as work: we have recently experienced a profound transformation in the processes of production. While the assembly line excluded any form of linguistic productivity, today, there is no production without communication. The new technologies are linguistic machines. This revolution has produced a new kind of worker who is not a specialist but is versatile and infinitely adaptable. If standardized mass production was dominant (...) in the past, today we produce an array of different goods corresponding to specific consumer niches. This is the post-Fordist model described by Christian Marazzi in Capital and Affects. Tracing the development of this new model of labor from Toyota plants in Japan to the most recent innovations, Marazzi's critique goes beyond political economy to encompass issues related to social life, political engagement, democratic institutions, interpersonal relations, and the role of language in liberal democracies. This translation at long last makes Marazzi's first book available to English readers. Capital and Affects stands not only as the foundation to Marazzi's subsequent work, but as foundational work in post-Fordist literature, with an analysis startlingly relevant to today's troubled economic times. This Semiotext edition includes the afterword Marazzi wrote for the 1999 Italian edition. (shrink)

This study examines whether community social capital in US counties, as captured by strength of civic norms and density of social networks in the counties, affects corporate social responsibility of resident corporations headquartered in the counties. Analyses of longitudinal data from 3688 unique US firms between 1997 and 2009 provide strong empirical support for the propositions that community social capital facilitates positive CSR activities that benefit non-shareholder stakeholders and constrains negative CSR activities that are detrimental to non-shareholder stakeholders. (...) Additionally, we explore the effects of institutional logics arising from community isomorphism on positive and negative CSR activities, respectively. And, we explore the respective effects of corporate engagement in positive and negative CSR activities on corporate financial performance. Firms undertake more positive CSR activities when such activities are more prevalent among other local corporations headquartered in the same county. But, there is no systematic relationship between negative CSR activities and the community-level corporate engagement in negative CSR activities. Positive CSR activities enhance a firm’s future financial performance, and the positive effect is more prominent among firms headquartered in counties with high community social capital. However, negative CSR activities only reduce a firm’s future financial performance among firms headquartered in counties with high community social capital; negative CSR activities do not affect performance among firms headquartered in counties with lower levels of community social capital. Collectively, these results highlight the distinct effects of local social institutions, namely community social capital, on positive CSR activities and negative CSR activities, respectively. (shrink)

We demonstrate that social capital is associated with positive food security outcomes, using survey data from 378 households in rural Uganda. We measured food security with the Household Food Insecurity Access Scale. For social capital, we measured cognitive and structural indicators, with principal components analysis used to identify key factors of the concept for logistic regression analysis. Households with bridging and linking social capital, characterized by membership in groups, access to information from external institutions, and observance of (...) norms in groups, tended to be more food secure. Households with cognitive social capital, characterized by observance of generalized norms and mutual trust, were also more food secure than others. However, we established that social capital is, by itself, insufficient. It needs to be complemented with human capital enhancement. We recommend that development interventions which focus on strengthening community associations and networks to enhance food security should support activities which enhance cognitive social capital and human capital skills. Such activities include mutual goal setting, trust building and clear communication among actors. Education efforts for community members, both formal and non-formal, should also be supported such that they potentially strengthen social capital to improve food security in rural Uganda. (shrink)

The concept of social capital has become more important in understanding contemporary economic development in the era of globalization. This concept, however, requires a theoretical framework that could help to distinguish between forms of social capital with positive effects on local development and other forms that may have negative consequences. This article argues that in order to understand this difference, two conditions are crucial. First, social capital has to be considered in terms of social relations and social (...) networks, rather than in terms of culture and civicness. The second condition is that the interaction between social capital and other institutions, especially political institutions, has to be carefully analysed. Therefore, this article points to the crucial role of political factors - of the `embedded autonomy' of political action - in favouring a positive role of social capital in local economic development. (shrink)

Rich people stash away trillions of dollars in tax havens like Switzerland, the Cayman Islands, or Singapore. Multinational corporations shift their profits to low-tax jurisdictions like Ireland or Panama to avoid paying tax. Recent stories in the media about Apple, Google, Starbucks, and Fiat are just the tip of the iceberg. There is hardly any multinational today that respects not just the letter but also the spirit of tax laws. All this becomes possible due to tax competition, with countries strategically (...) designing fiscal policy to attract capital from abroad. The loopholes in national tax regimes that tax competition generates and exploits draw into question political economic life as we presently know it. They undermine the fiscal autonomy of political communities and contribute to rising inequalities in income and wealth.Building on a careful analysis of the ethical challenges raised by a world of tax competition, this book puts forward a normative and institutional framework to regulate the practice. In short, individuals and corporations should pay tax in the jurisdictions of which they are members, where this membership can come in degrees. Moreover, the strategic tax setting of states should be limited in important ways. An International Tax Organisation should be created to enforce the principles of tax justice.The author defends this call for reform against two important objections. First, Dietsch refutes the suggestion that regulating tax competition is inefficient. Second, he argues that regulation of this sort, rather than representing a constraint on national sovereignty, in fact turns out to be a requirement of sovereignty in a global economy. The book closes with a series of reflections on the obligations that the beneficiaries of tax competition have towards the losers both prior to any institutional reform as well as in its aftermath. (shrink)

The strength of the Swedish Social Democracy implies that Sweden is a critical case for theory about social capital. First, what is the relation between the encompassing welfare programs and social capital? Second, what is the effect on civil society of the neo-corporatist relations between the government and major interest organizations? Using both archival and survey data, the result is that the sharp decline in social capital since the 1950s in the United States has no equivalence in (...) Sweden. This has to do with the specific way in which social programs have been institutionalized. Social capital may be caused by how government institutions operate and not by voluntary associations. (shrink)

The article attempts to present a thorough analysis of intelectual property, as main property of a modern company, from the perspective of private law. The article anlyzes the essence of the intangible resources that form the intellectual capital and discusses whether the modern institutes of law allow the universal protection of companies‘ intellectual capital. The first part of the article analizes the conception of intangible resources and provides their qlassification. The second part of the article discusses the understanding (...) of intellectual capital and importance thereof to modern companies. In the third part of the article, the possibility to financially account all intellectual property of a company is analyzed. The forth and fifth parts of the article reveal the possibilities of legal protection of intellectual capital. The law on intelectual property is not sufficient to protect all intelectual capital because it protects only that part of intangibles, which become the onjects of the intelectual property. (shrink)

AbstractForeign direct investment (FDI) in offshore financial centers (OFCs) is gaining increased attention in business ethics research. Much of this research tends to focus on OFCs as locations where firms can avoid taxes, considering such behavior as unethical. Yet, there is dearth of studies on capital round-tripping by emerging market firms, which is an integral part of this phenomenon. Such round-tripping involves firms sending capital into OFCs only to invest it back in the home country under the guise (...) of “foreign” investment. Presently there is little discussion of the ethical implications of such round-trip FDI activities. In this paper, we conceptualize round-tripping as institutional arbitrage and look at the determinants and ethical implications of such investments into OFCs. Exploring Russian round-tripping we note that firms tend to invest more funds in OFCs that offer a combination of tax and secrecy, or secrecy and property rights protection arbitrage opportunities. In either case firms exploit the opportunities provided by institutional differences between the OFC and Russia while investing back into Russia. Our results tend to indicate that equating OFC investment to tax avoidance and thus deeming it as unethical behavior is too narrow an explanation in the case of emerging economy round-tripping. This is because such investments are often motivated by the unethical behavior of home country stakeholders and may in fact provide benefits to society. (shrink)

Der brasilianische Aktienmarkt, dessen Rahmenbedingungen in den Jahren 2000/2001 grundlegend umgestaltet wurden, hat danach einen beeindruckenden Aufstieg erlebt, der erst im Herbst 2008 durch die globale Finanzmarktkrise und vor allem durch den Verfall der Rohstoffpreise gestoppt wurde. Dieser Aufstieg ist Anlass genug für eine Länderstudie, die sich mit den für Brasilien maßgebenden ökonomischen Faktoren und Institutionen auseinandersetzt und dabei folgende Frage beantwortet: Welche makroökonomischen Faktoren und institutionellen Veränderungen müssen zusammentreffen, um einen lokalen Aktienmarkt im Zeitalter der Globalisierung erfolgreich zu reformieren? (...) Die Antwort wird auf der Basis einer vergleichenden Analyse jener staatlichen und privatautonomen Regelwerke entwickelt, die für den Aktienmarkt rahmenbildend sind. Dabei werden unterschiedliche Regulierungstechniken und Arrangements einander gegenübergestellt und im Hinblick auf ihre Fähigkeit bewertet, die Markteffizienz zu verbessern. (shrink)

The article presents the main conceptual and organizational foundations of the Institute of Higher Education of the National Academy of Educational Sciences of Ukraine. The main circumstances and concrete efforts to implement the plan for the creation and development of this Institute have been witnessed from the first person. The creation of the Institute of Higher Education was supposed to contribute to the fulfillment of such basic tasks of higher education. First, the development of higher education stimulated the formation of (...) a young Ukrainian state, ensured the establishment of norms and values characteristic of a democratic state, and the development of the best qualities of human capital in Ukraine. Secondly, it was necessary to carry out radical changes in the entire system of higher education of Ukraine, to create a coherent national and modern system of higher education, which involved not only the implementation of changes at the national level, but also a significant restructuring of the universities themselves. Thirdly, the reform of higher education should have taken into account modern civilizational changes that necessitated transformational processes in the global university environment, such as the development of student-centeredness, the widespread introduction of new digital learning technologies, deeper integration into globalization processes, etc. Fourthly, despite the heated debate in political circles in the first years of Ukraine’s independence regarding the geopolitical orientations of the country’s development, more and more citizens became supporters of European integration, which was a natural, but difficult to implement, result of Ukraine’s accession to the Bologna process. The main achievements of the Institute of Higher Education in the conceptualization and instrumentalization of these and other tasks are described. Renewed on this basis, the higher education of Ukraine should become a driving force of society, capable of providing an innovative breakthrough in the scientific-technological, industrial-economic, social-humanitarian spheres. (shrink)

The aim of this work is to analyse the influence of sociocultural factors on corruption levels. Taking as starting point Husted (J Int Bus Studies 30:339–359, 1999) and Graeff (In: Lambsdorff J, Taube M, Schramm M (eds) The new institutional economics of corruption. Routledge, London, 2005) proposals, we consider both the interrelation between cultural dimensions and the diverse expressions of social capital with corruption. According to our results, the universalistic trust (linking and bridging social capital) constitutes a (...) positive social capital that is negatively linked to corruption. In contrast, the particularistic levels of trust (bonding) can constitute a negative social capital directly related to corruption levels. Furthermore, cultures which are favourable to the legitimation of dependency relations and the formation of closed particularistic groups (power-distance and community factors) create a breeding ground for the development of these amoral rent-seeking structures. (shrink)

Collectively, institutions own an increasing proportion of outstanding corporate equities. As an emergent force in shaping corporate America, the linkages between institutional ownership and corporate social performance (CSP) require empirical examination. Not only do corporate policy makers need to know those areas where social performance may lure or inhibit capital infusions, lawmakers also need a better understanding of the social forces guiding corporate policy. As anticipated, this study found a positive relationship between the amount of institutional ownership (...) of corporate stock and a company's social responsiveness as measured by the representation of women on its board of directors; however, no statistically significant relationship with social responsibility as measured by charitable giving was found. The exemplar of social issues management — compliance with the Sullivan principles — showed an unexpected, negative relationship with the level of institutional ownership. (shrink)

The proliferation of diasporas has influenced the nature of internationalization in many higher education (HE) systems and institutions, especially in terms of academic and student mobility/migration. Through a systematic review of the academic literature, I critically analyze the widespread uses of and approaches to ‘diaspora’ in HE research and its relationship to internationalization. I identify two major areas of studies and corresponding approaches to diaspora: one which frames diaspora as human capital and focusses on the role of the state; (...) and the other which frames diaspora as marginalized other and social construct. I argue that ‘diaspora’ in HE studies tends to be ambiguous, under-defined, under-theorized, and fragmented. I further argue that it is loosely connected to internationalization discourses, despite its clear connections. I posit that this is because ‘internationalization’ is associated with humanitarianism, cosmopolitanism, global citizenship and the de-centering of states, nations, ethnicities, religions, and particularistic identities. Diaspora is often associated with these latter categories and thus, is shunned. I conclude by suggesting that the blending of (often conflictual) ideas, intentions, values and identities is precisely what diaspora engages in and that the conditions of our increasingly mobile and (inter)connected world necessitate a (re)thinking of diaspora in HE scholarship. (shrink)

Financial relationships in academic research can create institutional conflicts of interest because the financial interests of the institution or institutional officials may inappropriately influence decision-making. Strategies for dealing with institutional COIs include establishing institutional COI committees that involve the board of trustees in conflict review and management, developing policies that shield institutional decisions from inappropriate influences, and establishing private foundations that are independent of the institution to own stock and intellectual property and to provide (...) class='Hi'>capital to start-up companies. (shrink)

One of the many arguments against capital punishment is that execution is irrevocable. At its most simple, the argument has three premises. First, legal institutions should abolish penalties that do not admit correction of error, unless there are no alternative penalties. Second, irrevocable penalties are those that do not admit of correction. Third, execution is irrevocable. It follows that capital punishment should be abolished. This paper argues for the third premise. One might think that the truth of this (...) premise is self-evident. But in his paper “Is the Death Penalty Irrevocable?” Mike Davis argues that it is false: the death penalty is not irrevocable. While Davis’ argument is itself somewhat compelling, it receives additional support from work in the metaphysics of death, specifically the literature on posthumous harm. Strengthened in this way, the argument deserves careful consideration. I begin with a quick sketch of Davis’ argument, then show how the Pitcher-Feinberg theory of posthumous harm enables a more robust argument against the irrevocability of capital punishment, defending their theory of harm against standard objections in the literature. Having established the coherency of the robust argument, I conclude that it nevertheless fails to make the case against irrevocability. This is because it ignores the full set of practical requirements incumbent on legal institutions that wrongly punish someone. (shrink)

Résumé Depuis 2002, le gouvernement catalan a permis le développement de la prostitution en club. Cette légalisation donne un poids écrasant à l’institution sur les propos tenus sur la réalité. La prostitution s’est répandue dans le monde au fil des guerres et des séjours des armées d’occupation. En Europe, l’institution de la prostitution crée des enclaves d’avancée du libéralisme économique, gérées par les gouvernements locaux. Les femmes insèrent dans ces opportunités leur capital-corps, mais l’offre volontaire ne suffit pas à (...) la demande, d’où le recrutement dans la migration, notamment d’Europe de l’Est de femmes assujetties par la nécessité de rembourser le passeur. (shrink)

The aim of this article is to analyse the internal mechanisms of corporate governance (board of directors and ownership structure), which influence voluntary disclosure of intangibles. The results appear to corroborate the view that an increase in institutional investor shareholding has a negative effect on voluntary disclosure, supporting the hypothesis of entrenchment, whereas an excessive ownership by institutional investors may have adverse effects on strategic disclosure decisions. The results also indicate that an increase in the number of members (...) of the board to up to 15 has a beneficial effect on the disclosure of intangibles. However, as this number increases, the effect inverts and becomes adverse to improving the capacity for supervision and control in the decision-making process regarding the voluntary disclosure of intangibles. The findings endorse the recommendation of the most of the Corporate Governance Codes regarding an advisable maximum of 15 members on a board to ensure its effectiveness and internal cohesion. (shrink)

In recent years, the microfinance industry has received a substantial amount of cross-border funding from both public and private sources. This funding reflects the increasing interest in microfinance as part of a more general trend towards socially responsible investments. In order to be able to secure sustained interest from these investors, it is important that the microfinance industry can show evidence of its contribution to reducing poverty at the bottom of the pyramid. For this, it is crucial to understand under (...) what conditions microfinance institutions are able to reduce poverty. This paper contributes to this discussion by investigating the relationship between the extent to which social capital formation is facilitated within different societies and the financial and social performance of MFIs. This focus on social capital formation is important, because in many cases MFIs use group loans with joint liability to incentivize asset-poor borrowers to substitute the lack of physical collateral by their social capital. Hence, the success of a large part of the loan relationship between MFIs and their borrowers depends on the social capital those borrowers can bring into the contract. We carry out a cross-country analysis on a dataset containing 100 countries and identify different social dimensions as proxies for how easy social capital can be developed in different countries. We hypothesize that microfinance is more successful, both in terms of their financial and social aims, in societies that are more conducive to the development of social capital. Our empirical results support our hypothesis. (shrink)

This study shows how institutional work contributes to institutional resilience in extreme operating environments. The authors draw from a longitudinal analysis of the operations of Desjardins International Development, a French Canadian nongovernmental organization that, both before and after the major earthquake of 2010, supported the implementation of cooperative banking in Haiti. Building on a unique access to DID’s internal documents as well as on 49 interviews with DID employees, the authors highlight the ways in which political, technical, and (...) cultural forms of institutional work triggered the emergence of social capital, which in turn supported the rise of new forms of institutional work that enabled institutional resilience. The results show how organizational activities focused on shaping institutions may have unintended effects that enable institutional resilience in EOEs, and demonstrate how the accumulation of institutional work by an organization contributes to the enhancement of its social capital. (shrink)

It is often said that politics is an amoral realm of power and interest in which moral judgment is irrelevant. In this book, by contrast, John Kane argues that people's positive moral judgments of political actors and institutions provide leaders with an important resource, which he christens 'moral capital'. Negative judgements cause a loss of moral capital which jeopardizes legitimacy and political survival. Studies of several historical and contemporary leaders - Lincoln, de Gaulle, Mandela, Aung San Suu Kyi (...) - illustrate the significance of moral capital for political legitimation, mobilizing support, and the creation of strategic opportunities. In the book's final section, Kane applies his arguments to the American presidency from Kennedy to Clinton. He argues that a moral crisis has afflicted the nation at its mythical heart and has been refracted through and enacted within its central institutions, eroding the moral capital of government and people and undermining the nation's morale. (shrink)

This chapter outlines Marx’s analysis of bourgeois society, the bourgeois form of production, relations of bourgeois production, the mode of production based on capital, and, after 1860, the capitalist mode of production. It starts with the analysis of the value form, its various expressions, its contradictions and crisis-tendencies, and the way in which social forms set the limits to class struggle. Forms and struggles shape the laws of motion of capital accumulation, which, in turn, modify the conjuncture in (...) which forms evolve and struggles occur. The chapter also considers the nature of bourgeois social formations and their implications for economic and political institutions and conflicts. The chapter concludes with reflections on the pursuit of alternatives to capitalist relations that aim to reform capitalism or replace it in the medium- to long-term and the forms of social mobilization required for this. (shrink)

In Between Facts and Norms Habermas both accepts the place of distinctively ethical considerations about ‘the good’ in political deliberation, and advances a particular view of the nature and justification of ethical judgments. Whilst welcoming the former, this paper criticises the latter, with its focus on issues of identity and self-understanding, and suggests instead a broadly Aristotelian alternative. The argument proceeds, first, through a detailed engagement with Habermas’s theoretical claims about ethical reasoning in politics, in which it is argued that (...) he fails to show how different ethical possibilities can be critically evaluated, and second, through the analysis of a practical example, that of a political choice being made between different kinds of capitalism. Here the paper draws on recent work in comparative political economy on the institutional differences between varieties of capitalism, and uses this to contrast the implications of Habermas’s conception of ethics, according to which what would matter is the congruence between economic institutions and a political community’s historically shaped identity, with those of its preferred alternative, which requires a comparison between the different conceptions of the good that each kind of capitalism institutionally favours, and collective judgments about their respective contributions to human well-being. (shrink)

This article presents the results of a study that analysed whether social responsibility had any bearing on the decision making of institutional investors. Being that institutional investors prefer socially aligned organizations, this study explored to what extent the corporate actions and/or social/environmental investments influenced their decisions. Our results suggest that there are specific variables that affect the perceived value of the organization, leading to decisions to not only invest, but whether to hold or sell the shares, and therefore (...) having a consequential impact on the capital market’s valuation. (shrink)

This paper explores the methodological foundations of Thomas Piketty's recent book Capital in the twenty-first century. The current literature on Piketty's work lacks consensus as to which paradigm of economic thought Capital fits into. In response to that literature, this paper argues that Piketty offers a new methodological direction for economic science in the form of an analytical 'new-historicism'. The central emphasis of this methodology is an analysis of general dynamic laws on three levels: distribution, institutions, and history. (...) A new-historical methodological framework applies new analytical tools to old economic problems raised by Smith, Ricardo, Marx, and others. This distinguishes Piketty's framework from other contending paradigms or schools of economic thought, thereby alleviating confusion in the current literature surrounding Piketty's book. (shrink)