Business Commons^™

Greece: National Bank Holiday, 2015, Stella Schaefer-Brown

Journal of Financial Crises

In December 2014, deposit outflows from Greek banks intensified owing to political uncertainty following the announcement of a snap presidential election and a subsequent crash of the Greek stock market. This led to a liquidity crisis in the first half of 2015. Intensifying political uncertainty, worsening liquidity, and volatility in the macroeconomic and financial markets environment peaked in the first half of 2015. The crisis was exacerbated by a February decision by the European Central Bank (ECB) that made it difficult for Greek banks to continue borrowing from its monetary policy-related liquidity programs. On June 28, 2015, the ECB announced …

Cyprus: National Bank Holiday, 2013, Stella Schaefer-Brown

Journal of Financial Crises

The Greek government debt crisis was especially hard on the two largest Cypriot banks. Bank of Cyprus (BoC) and Laiki Bank lost EUR 1.8 billion and EUR 2.3 billion, respectively, on their Greek government bonds after the European Union (EU) decision in October 2011 to haircut the bonds. Over the next year, Laiki Bank faced severe liquidity problems from depositor withdrawals, the Central Bank of Cyprus (CBC) extended to it significant emergency liquidity assistance, and the government owned 84% of the bank after injecting EUR 1.8 billion. The Cypriot economy also suffered negative effects and in March 2013, authorities negotiated …

Ecuador: National Bank Holiday, 1999, Bailey Decker

Journal of Financial Crises

After a series of exogenous shocks hit Ecuador’s economy in 1997 and 1998, foreign creditors reduced external credit lines to the country, draining liquidity. The newly created Deposit Guarantee Agency (Agencia de Garantía de Depósitos, AGD) administered deposit insurance and a new blanket guarantee and had the authority to resolve failing banks. Despite these actions, bank runs continued. After depositors reportedly withdrew USD 400 million from banks over a two-week period, on Monday, March 8, 1999, one hour before banks were supposed to open, the bank superintendent declared a surprise bank holiday effective that day; banks reopened a week later …

Argentina: National Bank Holidays, 2001, Owen Heaphy

Journal of Financial Crises

Starting in 1991, Argentina operated a currency board regime under which the central bank guaranteed a one-to-one peg of the Argentine peso to the US dollar. But in 2001, markets became increasingly concerned that the central bank would be unable to maintain the peg and would allow the peso to devalue against the dollar. At that time, more than two-thirds of Argentine bank deposits were denominated in dollars. Throughout 2001, depositors withdrew funds from banks; by November, peso deposits had declined by more than one-third and dollar deposits had fallen by one-tenth. On November 28, 2001, the systemwide banking run …

Survey Of Bank Holidays And Fund Suspensions, Rosalind Z. Wiggins, Owen Heaphy, Anmol Makhija, Stella Schaefer-Brown, Greg Feldberg, Andrew Metrick

Journal of Financial Crises

In this paper, we analyze seven case studies involving bank holidays and two involving mutual fund suspensions produced by the Yale Program on Financial Stability. Our main purpose is to assist policymakers who are considering utilizing a bank holiday in designing the most effective program as efficiently as possible. We find that a bank holiday may be most useful when designing and implementing a comprehensive remedy to an underlying problem distressing banks, particularly when an exogenous shock rather than balance sheet weaknesses is the cause of general distress to the system. A holiday is also useful to “ring-fence” one or …

Argentina: Mutual Fund Suspensions, 2019, Owen Heaphy, Anmol Makhija

Journal of Financial Crises

With Argentina facing a liquidity crisis and collapse in demand for government debt, on Wednesday, August 28, 2019, the country's minister of economy, Hernán Lacunza, announced after markets closed that the government was extending the maturity of USD 7 billion of its short-term public debt securities, among other measures. Lacunza stated that domestic retail investors would not be subject to the terms of the maturity extension and would be paid principal and interest on the affected securities per the original maturity schedule. This announcement caused confusion about the treatment of individual investors who held the affected securities indirectly through mutual …

Exploring The Impact Of Digital Solutions On Sustainable Economic Growth In The Agricultural Sector Of Rural Zambia: A Case Of Central, Lusaka And Southern Provinces, Ireen Wesley Chimoga V

Adventist Human-Subject Researchers Association

The study explored the impact of digital solutions on sustainable economic growth in the agricultural sector of rural Zambia, focusing on Central, Lusaka, and Southern provinces. It explored how digital mobiles can increase agricultural production, reduce poverty, and advance economic growth. The findings aimed to suggest policies for rural development.

Circular Thinking In A Technological Age: Designing For A Regenerative Future, Mohammed Ali Berawi, Perdana Miraj, Mustika Sari

CSID Journal of Infrastructure Development

Architecture, engineering, and construction sector is experiencing challenges related to environment and economic aspects. It consumes vast amounts of resources and energy and contributes heavily to global carbon emissions. Academics and industry leaders are trying to explore various strategies to combat climate change by shifting toward circularity. It is a systems-based approach that prioritizes regenerative design, responsible consumption, and closed-loop resource use. At the heart of this shift lies the interplay between circularity, technology, and the environment that can reshape how we live, produce, and consume. But this transformation is not simply about adopting greener practices; it’s about rethinking the …

The City As The Classroom: The Case Of “Start ‘Em Young Advocacy” At Silliman University, Philippines, Novee Elarmo Maestrecampo Jr., Giovanni Tuballa Macahig

CSID Journal of Infrastructure Development

This case study highlights the value of engaging with communities as real-world environments for practical and reflective learning. It suggests that students can develop insights and acquire knowledge through interactions with diverse groups and locations, even within urban settings. The paper presents the experience of implementing the “Start ‘em Young Advocacy,” a student-led, environment-focused, and project-based initiative within the Civic Welfare Training Service (CWTS) under the National Service Training Program (NSTP) at Silliman University, Philippines. In collaboration with the City Social Welfare and Development Office (CSWDO), CWTS students worked with thirty daycare centers. Using Kolb’s Experiential Learning Theory as a …

Barriers To Learning Exposure In Construction 4.0: Perspectives From Built-Environment Students, Olajide Julius Faremi, Habeeb Abiodun Arowolo

CSID Journal of Infrastructure Development

The ongoing digital transformation of the construction industry, known as Construction 4.0, requires students in built-environment programs to gain adequate exposure to emerging technologies. Despite this need, many faces significant barriers to meaningful engagement. This study explores the factors limiting students’ learning experiences related to Construction 4.0 in Nigerian universities and polytechnics. Using a stratified random sampling method, 154 students from one university and one polytechnic were surveyed through a structured questionnaire. Data were analyzed using frequency distribution, relative importance index, and the Mann-Whitney test. Results identify key obstacles such as limited peer collaboration, insufficient funding and resources, and weak …

Assessing The Impact Of Nigerian Seaports’ Operational Performance On The Construction Sector’S Contribution To Gdp, Ismail Gbolahan Dere, Joel Ademola Ojekunle

CSID Journal of Infrastructure Development

The construction sector in Nigeria relies heavily on imported materials; however, inefficiencies and frequent delays at the seaports have led to increased costs, significantly affecting the sector’s contribution to the nation’s Gross Domestic Product (GDP). This study examines the relationship between the operational performance of Nigerian seaports and the GDP contribution of the construction sector. Secondary data on GDP and port performance indicators were obtained from the Central Bank of Nigeria (CBN) and the Nigerian Ports Authority (NPA), covering the period from 2011 to 2023. The analysis employed descriptive and inferential statistics methods, including regression and Stochastic Frontier Analysis (SFA). …

Acceptability Of The Proposed Congestion Charging System In The Central Business District Of Baguio City, Philippines, Ericka Renee A. Lanigt, Sandra S. Samantela, Ma. Catriona E. Devanadera, Casper Boongaling Agaton

CSID Journal of Infrastructure Development

The City Government of Baguio is proposing a congestion charging system in the Central Business District (CBD) to address the ongoing issue of traffic congestion in the city. Although it is an effective tool, low public acceptability hinders its implementation. This study aims to assess Baguio City residents' acceptability regarding the CBD's congestion charging system. Specifically, it seeks to (1) identify the factors that influence residents’ acceptability of the proposed system, (2) evaluate whether there is a significant difference in acceptability across different road users (private vehicles, public transportation, cycling, and walking), and (3) provide recommendations for transportation policy planning …

A Model Of Trips Route Planning To Improve The Accessibility Of Public Transportation In Bengkalis City Using Geographic Information System (Gis), Nur'ain Jaafar, Hendra Saputra, Mutia Lisya

CSID Journal of Infrastructure Development

The increase in population and motorized vehicles in Bengkalis City has led to greater demand for public transportation, which remains insufficient in meeting accessibility needs. This study aims to develop a model for planning public transportation routes using Geographic Information System (GIS) tools to improve accessibility in Bengkalis City. The study employs primary data from field surveys and secondary data from relevant agencies. GIS-based spatial analysis methods, such as service area analysis and the Origin-Destination (OD) matrix, are applied to evaluate accessibility and passenger movement patterns. The analysis results in two route alternatives assessed based on stop point density, community …

When Spotlights Fade: Local Newspaper Closures And Financial Advisor Misconduct, Zhi Li, Qiyuan Peng, Rui-Zhong (R.Z.) Zhang

Business Faculty Articles and Research

Using individual records of about 950,000 financial advisors, we find that the probability and intensity of financial advisor misconduct significantly increase after local newspaper closures. The impact is more pronounced in counties with a higher proportion of seniors, minorities, and individuals with lower education levels. Male advisors are more likely to commit misconduct following newspaper closures than female advisors. The sensitivity of advisors’ job turnover to misconduct decreases after closures, suggesting a lower cost of committing misconduct. Our evidence indicates that local newspapers play a distinct role in mitigating financial advisor misconduct, as media exposure raises the costs of misbehavior.

Key Job Demands And Resources In The Digital Environment Of Publishing Employees, Małgorzata Libuda

Studia i Materiały Wydział Zarządzania Uniwersytet Warszawski

Purpose: The main objective of this article is to discuss the results of a study of the key requirements and work resources of ICT-intensive people in the Polish publishing environment.

Methodology: The process was carried out through qualitative research, i.e. semi-structured interviews conducted with managers managing teams in different departments and divisions.

Results: Based on the interviews, key (a) resources were identified, i.e. factors that account for employees’ willingness to use technology, treating it as a support in their daily work, and (b) work requirements that are considered to be major impediments during task completion.

Limitations: …

Contemporary Use Of Innovation In The Context Of Tsl Business Management, Krzysztof Jurek

Studia i Materiały Wydział Zarządzania Uniwersytet Warszawski

Purpose:

The purpose of this article is to present the impact of innovations on the operation of companies engaged in providing transportation services in the transport, forwarding and logistics (TSL) industry.

Methodology: The above topic was developed using the available literature on the subject, by both Polish and foreign authors. A synthetic review of the above materials and an analysis of their content was carried out. On this basis, key conclusions were drawn, which made it possible to build a coherent and comprehensive argument. The work also takes into account current trends and developments in the field under …

Deliberately Queer Journal Editors' Note For Volume One, Sean Te Maulding, Mel Monier

Deliberately Queer Journal

No abstract provided.

Resilience: Panacea, Trend, Or Deception? The Significance And Application Of The Concept In Organizational Management, Aleksandra Spik

Studia i Materiały Wydział Zarządzania Uniwersytet Warszawski

Objective: The primary aim of this article is to analyse the significance and application of the concept of resilience within management sciences, to identify factors contributing to high organizational resilience, and to examine a case study of the Aksam company. Additionally, anathe article seeks to highlight the limitations of the conceptual construct of resilience and the negative aspects associated with the phenomenon of resilience.

Methodology: A systematic review method was employed to analyse selected articles, alongside a case study analysis and a descriptive method, which facilitated the presentation of the origins and development of the concept of resilience. …

The Failure Of Change Management Projects In Strategy Implementation, Brandon S. Cupp

Doctoral Dissertations and Projects

Change management is critical to strategy implementation, yet organizations frequently struggle to integrate change initiatives, leading to high failure rates. This study explores the systemic challenges associated with change management projects within strategy implementation programs, identifying key factors contributing to success or failure. The research, using a flexible qualitative case study, examines the perspectives of executives, middle managers, and front-line employees in a U.S.-based public safety apparel company. Findings reveal that ineffective communication, insufficient training and support, lack of leadership accountability, employee resistance, generational and cultural differences, and misalignment between strategic vision and operational execution significantly contribute to change management …

Big Techs. The Dilemmas Of Regulation And Competition In Ai Research And Development, Włodzimierz Szpringer

Studia i Materiały Wydział Zarządzania Uniwersytet Warszawski

Objective: The article aims to examine the market power relations in artificial intelligence (AI) research and development, particularly the impact of AI basic models on the market power of big techs and platformization in the digital economy, regulation and competition.

Methodology: The research methods used are interdisciplinary literature studies (economics, law, management), regulation and case law, economic analysis of the law and regulatory impact assessment.

Results: Bigtechs use their collective monopoly on computing power, data, technical knowledge and infrastructure to gain an advantage in the R&D of basic AI models. Smaller companies, which do not have access …

Attitudes Towards Family Business – Personality Of A Ceo In A Family Business, Justyna Domanowska

Studia i Materiały Wydział Zarządzania Uniwersytet Warszawski

Purpose: The purpose of this article is to analyse the attitude of students towards family business.

Design/methodology/approach: The study was based on a prepared questionnaire and literature research.

Results: The survey showed that most students are not interested in continuing their parents’ family business. Half of them hail from families where family entrepreneurship exists.

Research limitations/implications: The study had its limitations. It was conducted at only one university faculty, which does not allow for far-reaching generalizations. It would be interesting to repeat the research on the same group after two years, i.e. during the third year of …

Quantum Management: A Revolution In The Future Of Management Science And Business Practice, Bartosz Niedzielski

Studia i Materiały Wydział Zarządzania Uniwersytet Warszawski

Purpose: The article aims to propose a nominal definition of quantum management and analyze the differences between the classical and quantum paradigms of management, with particular emphasis on their impact on organizational structure and decision-making processes.

Methodology: The article is based on a synthetic literature review concerning the application of quantum theory in management sciences, including publications from bibliometric databases such as Scopus, Web of Science, and Elsevier. The review focuses on the theoretical and practical differences between the classical and quantum approaches to management. Additionally, a comparative method is used to identify key differences between these two …

Risk-Sensitive Markov-Perfect Equilibrium, Matthew J. Sobel

Faculty Scholarship

We investigate the existence and structure of Markov-perfect equilibria of discrete-time dynamic games in which players are risk averse and have time preferences consistent with discounting. We establish the existence of a Markov-perfect equilibrium when each player strives to maximize the expected exponential utility of the present value of the time stream of rewards. Also, we give sufficient conditions for a Markov-perfect equilibrium to be myopic, namely to be a sequence of Nash equilibria of static games. The myopia results are applied to a dynamic oligopoly model in which firms choose prices and production quantities, encounter stochastic demand and hold …

Sustainable Tourism Behaviour Through Walking Tour: A Qualitative Study To Walking Tour Participants In Jakarta, Melisa Bunga Altamira, Khairunnisa Devani Aqtus Permana Putri

Journal of Indonesian Tourism and Policy Studies

As urban tourism continues to rise, walking tours have emerged as a low-impact, environmentally friendly, and culturally immersive form of tourism. This study explores the relationship between walking tours and the development of sustainable tourism behaviour among participants in Jakarta, Indonesia. Using a qualitative research approach, this study elaborates the motivations, perceptions, and behavioural changes of individuals who have participated in walking tours across Jakarta’s historical and cultural sites. Data were collected through in-depth interviews and participant observations, focusing on themes such as environmental awareness, appreciation of local culture, and reduced dependency on motorized transport. The findings suggest that walking …

Customer Lifetime Value: Dimensionalities And Conceptual Connections, Sharmistha Bhattacharyya, Mrinmoy Kumar Sarma

Markets, Globalization & Development Review

Customer Lifetime Value (CLV) has a strong relationship to customer satisfaction and firm profitability . This review indicates that once such a relationship is developed and cemented, multiple benefits accrue to the brand and the firm. The review lays the groundwork for further studies of CLV, especially in the emerging economies.

Global Trends In Youth Employment: Key Statistics And Cultural Commentary, Anatolii Mazaraki, Tetiana Melnyk, Oksana Losheniuk

Markets, Globalization & Development Review

The issue of youth employment receives constant attention of global organizations, governments, and researchers. Young people have the potential to positively reshape the national and global economies. Furthermore, the youth also constantly reshape the social, cultural, technological, and political environments. Global unemployment rate among youth, however, is three times higher than among older workers. In 2023, one in five young people did not work, study, or acquire professional skills. The negative factors of the Ukrainian youth labor market have been significantly exacerbated by the war, which has caused an economic crisis in the country, a huge migration of young people, …

New Institutional Economics : A Few Extensions, Murali Patibandla

Markets, Globalization & Development Review

This article traces out the development of the New Institutional Economics (NIE). It delineates the literature into two interrelated themes of institutional environment and institutions of governance. The rules of the game of institutional environment determine governance choices. Inefficient institutional environment results in inefficient governance mechanisms which causes misutilization of scarce resources. Institutional environment evolves over time. This article demonstrates the evolution of institutions in response to shocks with analysis of historical examples. The prevailing literature over glorifies the colonial rule of the West for the emergence of capitalist institutions. It fails to explain success stories of Japan, Mainland China …

Institutions: Facilitators Or Detractors Of Development?, Nikhilesh Dholakia, Deniz Atik, Zeynep Ozdamar Ertekin, Delphine Godefroit-Winkel

Markets, Globalization & Development Review

No abstract provided.

Exploring The Potential Of Large Language Models (Llms) To Simulate Social Group Dynamics: A Case Study Using The Board Game "Secret Hitler", Kaj Hansteen Izora, Christof Teuscher

Northeast Journal of Complex Systems (NEJCS)

This study explores the capacity of large language model-powered agents to simulate human-like behavior in multi-agent social systems. Using Secret Hitler — a hidden-role board game centered on trust, deception, and strategic communication — we evaluate how LLM agents navigate dynamic group interactions. Our findings show that agents exhibit human-like behaviors, including strategic temporal adaptation, contextual reasoning, and complex social cognition such as theory of mind and implicit coordination. Notably, 85% of agent decisions factored in at least two other players’ mental states, highlighting their capacity for multi-agent mental state inference. However, they struggled with key aspects of human gameplay, …

Hegemonic Entrepreneurial Masculinities In Patriarchal Contexts: Exploring Men's Entrepreneurship In War-Torn Territories, Doaa Althalathini, Theodore A. Khoury, Nick Rumens

Business Faculty Publications and Presentations

This article examines how the war-torn context in Iraq has affected men’s entrepreneurship and entrepreneurial masculinities. Drawing on the entrepreneurship masculinities literature, Connell’s notion of hegemonic masculinity and in-depth interviews with 21 Iraqi men entrepreneurs, this article demonstrates the complex interplay between entrepreneurship, masculinity and patriarchal dynamics in the context of wars and economic instability in Iraq. Study findings show how Iraqi men often turn to entrepreneurship out of necessity to meet patriarchal expectations of them as primary providers for their families. We contribute to the literature on entrepreneurship, men and masculinities by demonstrating how entrepreneurship not only serves as …