scholarly journals The institutional evolution of central banks

Author(s):  
Pablo Paniagua Prieto

AbstractThis article contributes to the literature on central banks’ institutional rationale and evolution by analyzing the early development of the Bank of England as a case study. The history of the Bank is scrutinized under the framework of entangled political economy, revealing its origins in a process of bank and political bargains. The account clarifies the process by which the political and economic order becomes increasingly intertwined throughout the banking system, via political bargains under incomplete contracts. The analysis suggests that entanglement allows governments and non-profit organizations to transmit some of their features to banking organizations in exchange for financial benefits. Transmitting nonmarket characteristics through recurrent bargains leads a for-profit bank to gradually transform into a central bank. The article proposes an alternative rationale for the unintended emergence of central banks, providing evidence in favor of their politically oriented development, rather than their alleged intrinsic nature.

Author(s):  
Khatera Naseri ◽  
Ashurov Sharofiddin

Although the background of the banking system goes back as far as 1933, Islamic finance isstill new in Afghanistan. The history of the firstfull-fledged Islamic bank began asrecently as 2018 with the conversion ofBakhtarBank, a conventional bank, to the IslamicBank of Afghanistan (IBA). There have been numerousstudies done worldwide, but no empiricalstudy has examined the subject of Islamic banking adoption in the specific context of Afghanistan. Therefore, this presentstudy investigatesthe adoption ofIslamic banking in Afghanistan, using a case study of Herat province, based on Rogers’ (1983) Diffusion of Innovation Theory, to determine the impact of awareness,productknowledge,religiosity,relativeadvantage,compatibility, and complexity on the adoption of Islamic banking. A quantitative approach to the stratified convenience sampling method was used in this study. Questionnaires were distributed to 334 bank customers and the responses analyzed using SPSS v22. The multiple regression analysis finding indicated that product knowledge, relative advantage, and religiosity significantly and positively influenced the adoption of Islamic banking. It is suggested that the government and financial institutions should support Islamic banking with beneficial policies and initiatives to enhance the knowledge of the public about the significance of Islamic banking activities.


Author(s):  
Sultana Lubna Alam ◽  
Ruonan Sun ◽  
John Campbell

While most crowdsourcing (CS) cases in the literature focus on commercial organisations, little is known about volunteers’ motivation of initial and continued participation in not-for-profit CS projects and importantly, about how the motivations may change over time. It is vital to understand motivation and motivational dynamics in a not-for-profit context because a fundamental challenge for not-for-profit CS initiations is to recruit and keep volunteers motivated without any formal contract or financial incentives. To tackle this challenge, we explore high performing volunteers’ initial motivation for joining and sustaining with a GLAM (galleries, libraries, archives and museums) CS project. We situated our interpretive exploration in a case study of the Australian Newspapers CS project initiated by the National Library of Australia. Based on the case study, we found that high-performing volunteers were motivated by a combination of personal, collective, and external factors classified into intrinsic, extrinsic, and internalised extrinsic motivations. Further, we found that these motivations changed over time. Specifically, many volunteers presented substantial personal (i.e., personal interest and fun) and community-centric motivations (i.e. altruism and non-profit cause) when they initially joined the project, whereas external motivations (i.e., recognition and rewards) had a greater impact on long-term participation. Our findings offer implications for CS system design (e.g., user profiles, tagging and commenting), incentive structure (e.g., reputation-based ranking, leader boards), and relational mechanisms (e.g., open communication channels) to stimulate sustainable contributions for not-for-profit CS initiatives.


2020 ◽  
Vol 16 (1) ◽  
pp. 155-172
Author(s):  
Brent McKenzie ◽  
Emily Hunter

PurposeThe focus of this research is to present a case study of a small Latvian-based non-profit organization (NPO), O fonds (Oncology Foundation), and how they are an exemplar of the challenges facing NPOs in countries that do not have a strong history of NPO success. The research is supported through primary data collection of multiple interviews and correspondence with the key informant of O fonds, the CEO. These insights were supported with secondary data analysis of the history of NPOs in emerging markets, as well as the history of cancer screening in Latvia.Design/methodology/approachIn order to address the gap in the existing research literature, a single firm case analysis was selected to provide the context of the study. A series of semi-structured questions focused on O fonds branding and rebranding activities were posed to the CEO of the firm. Subsequent personal interviews were conducted to analyze and interpret the original results. This primary data were linked to secondary data about the practices of O fonds, NPOs in Latvia and the roles and challenges of NPOs in emerging markets.FindingsThe analysis of the findings from the primary data collection found that O fonds' rebranding effort helped to achieve a more stable and significant place for NPOs in the healthcare sector in Latvia and of equal importance with the Latvian general public. Tangible results included more financial support from donors, with an added benefit of increased joint marketing activities with corporate donors. Furthermore, active involvement with O fonds and medical professionals resulted from the rebrand. Also, there was an increase in referral patients to O fonds so they could attempt to get these people support for cancer screening.Research limitations/implicationsQuestions as to issues of validity from the use of a single case study, and greater issues with a single case, single interview method are acknowledged. This potential limitation, with respect to this study, was deemed to be lessened based on the use of multiple interviews and sourcing of secondary company material with the CEO of O fonds. Further support by way of sharing of a secondary data, and organizational insights helped to address any major limitations in the research methodology, as helpful information and materials that might not have been readily available, or unavailable without this level of trust, could be obtained.Practical implicationsExploring how NPOs can rebrand their firm to better meet the needs of society and be most impactful will contribute to both managerial practice and academic literature. By examining how a non-profit rebranding process occurs, in an emerging economy, and determining how effective rebranding can be utilized as a turnaround strategy, is a contribution of this research. Given the limited non-profit rebranding literature, particularly in emerging markets, this study provides exploratory insights within a new context to help propel the field of knowledge.Social implicationsNPOs have been shown to play a valuable role in communities across many regions of the world as NPOs enable citizens to come together to collectively work toward a common goal with the purpose of bettering society. With respect to the focus on O fonds their aim of increasing early detection of cancer continues to rise, but more positively, the incidents of treatable cancer are also rising as the result of the former. Regrettably, this positive trend in increased cancer screening does not equate to lower mortality rates across all countries, particularly countries in emerging markets such as Latvia.Originality/valueThis is one of the first known studies of an NPO in the emerging market of Latvia, in general, and in the Latvian healthcare sector specifically. As there is a dearth of research in this field of study, and the fact that NPO growth is a critical component of society growth in emerging markets, there is an important contribution to be made to both practice, and society, from the findings from this research.


2015 ◽  
Vol 18 (2) ◽  
pp. 258-280 ◽  
Author(s):  
Naiara Altuna ◽  
Anna Maria Contri ◽  
Claudio Dell'Era ◽  
Federico Frattini ◽  
Paolo Maccarrone

Purpose – Social innovations are defined as innovative products or services motivated by the goal of meeting a social need, with the opportunity to create new social relationships or collaborations. Although developing social innovations has been the primary concern of non-profit organizations so far, there are signs of an increasing involvement in this type of innovations of for-profit firms, in an attempt to accomplish their corporate social responsibility strategies. This notwithstanding, there is very limited knowledge on how for-profit organizations can develop a capability to manage social innovation projects. The purpose of this paper is to provide exploratory evidence to fill this gap. Design/methodology/approach – The paper presents and discusses a case study of a firm that has been involved in social innovation for years. It is Intesa Sanpaolo, a for-profit organization that leads the Italian banking sector. Findings – The case study points to the existence of three managerial antecedents of a superior ability in social innovation: integrating CSR in its business strategy with a strong commitment from the top management; separating the activities concerned with the development of social innovations from the rest of the organization, following to the structural ambidexterity model; applying the principles of open innovation to the development of social innovations, by involving in particular non-profit organizations as a source of ideas for new social innovation projects and leveraging them to enable adoption of the new products and services. Originality/value – So far there is very limited knowledge on how for-profit organizations can develop a capability to manage social innovation projects. This paper provides exploratory evidence to fill this gap.


2013 ◽  
Vol 17 (4) ◽  
pp. 479-498
Author(s):  
Sergio Fernando Loureiro Rezende ◽  
Jeferson Vinhas Ferreira ◽  
Angela França Versiani ◽  
Liliane Oliveira Guimarães

Building on the relational view of M&A suggested by the Industrial Network Approach, we looked at the non-economic dimension of post-acquisition changes in the relationships of the acquired firm. Based on a 2x2 matrix, this is illustrated by the relationships between the acquired firm with for-profit organizations through which non-economic resources are transacted (called Social) or with non-profit organizations with which it transacts either economic (called Partnership) or non-economic resources (called Community). We built a qualitative case study from the acquisition of the Brazilian firm Paraíso Group by the Swiss multinational Holcim, and focused on ten relationships of the acquired firm. We found that these relationships changed in terms of professionalism, degree of dependence and number of actors. An increase in professionalism is observed in all the relationships. This type and direction of change was considered the most important post-acquisition change. The degree of dependence and number of actors changes happened in specific segments of the acquired firm's network, represented by the Community and Social relationships, respectively.


2019 ◽  
Vol 22 (5) ◽  
pp. 747-765
Author(s):  
Meike Rombach ◽  
Lisa Koehl ◽  
Vera Bitsch

The study investigated the collaboration between a non-profit and a for-profit organization and evaluated the benefits and drawbacks of the collaboration for the non-profit partner. The non-profit partner is a charitable organization that supports an ethnic minority in one of the least economically affluent European countries. The collaboration stemmed from a project, in which members of the minority cultivated and processed a delicatessen product for the market in more affluent European countries. The collaboration did not succeed to fully produce the desired results. It was negatively affected by inadequate communication, the absence of meta-goals, as well as classical and multi-level agency problems. In part due to the inexperience of both partners with such collaborations, the for-profit partner seems to have taken hidden actions. These actions did not contribute to the project goals, respectively jeopardized the goals and reputation of the non-profit partner.


2011 ◽  
Vol 22 (2) ◽  
Author(s):  
Frank J. Grippo ◽  
Noah P. Barsky ◽  
Joel Siegel ◽  
William Matthews

<p class="MsoNormal" style="text-align: justify; margin: 0in 0.6in 0pt 0.5in;"><span style="font-family: Times New Roman; font-size: x-small;">This case requires you to resolve financial reporting deficiencies that arise in the audit of a not-for-profit entity, a prestigious private high school.<span style="mso-spacerun: yes;">&nbsp; </span>This case is based on the actual experience that an audit firm had with a not-for-profit client.<span style="mso-spacerun: yes;">&nbsp; </span>The primary reporting issues in the case relate to investments, contributions, severance packages, and leases that arise due to school management&rsquo;s failure to consider recent accounting pronouncements.<span style="mso-spacerun: yes;">&nbsp; </span>By completing this case, you will learn about standards that affect not-for-profit entities and how auditors resolve differences with clients.<span style="mso-spacerun: yes;">&nbsp; </span>The decisions that you make require an understanding of technical knowledge of topics covered in typical intermediate accounting courses.<span style="mso-spacerun: yes;">&nbsp; </span>In addition, the case requires you to integrate accounting theory with the practice of auditing.<span style="mso-spacerun: yes;">&nbsp; </span>The premise for the case is that in order to be a successful auditor, you will need a good understanding of your client&rsquo;s business as well as technical accounting issues. </span></p>


2021 ◽  
Vol 5 (1) ◽  
pp. 28-40
Author(s):  
Zulfikar Hasan

The objective of my research is to observe at the relationship between receivables, profit-sharing financing to total assets at BNI Syariah Bank from 2016-2020. Total assets in BNI Syariah frequently endure fluctuations in total assets each year, whether receivables and profit-sharing financing have a significant effect on variable Y (total assets). The method that researchers run is a quantitative method using the help of SPPS software, while the variables that influence are the dependent variable receivables and profit-sharing financing. The funding channelled by BNI Syariah is essentially the same as other Islamic banks in Indonesia. Because it still uses an agreement that has long practised in the Islamic banking system, such as the Murabaha contract for the provision of receivables, Mudharabah and Musyarakah contracts for profit sharing between customers and banks. The relationship between Receivables and Revenue Sharing Financing has a positive correlation between variables. This research can also provide some connection between Murabahah and Musharaka which are one of the main product sources of BNI Syariah bank. The originality of the research that the researcher makes is his own, it is not copied and that the researcher's research idea is new and can add new knowledge.


2016 ◽  
Vol 10 (3) ◽  
pp. 13-31
Author(s):  
Björn Lantz ◽  
Anders Isaksson

How does governance affect the operative behaviour of gambling sites? We conjecture that differences in governance primarily cause pricing differences among gambling sites. This paper presents an analysis of the purpose and implications of rake policy differences between privately owned for-profit and state-owned non-profit poker web sites. Specifically, the paper comprises a comparative case study analysis of Svenska Spel Poker, owned by the Swedish state, and the commercial site PokerStars. The analysis focuses on the range of different types of single table Sit and Go tournaments offered at each site. We observe two main differences between the sites with respect to rake. First, PokerStars uses a rather complex formula to determine the rake percentage based on variables such as tournament speed, stakes, and size while Svenska Spel uses the same rake percentage for all Sit and Go tournaments regardless of speed and stakes but with a 50 percent discount if the tournament is played heads-up. Second, PokerStars charges less rake than Svenska Spel except for the lowest stakes. We discuss the effects and purpose of these rake policy differences from four different perspectives: 1) the individual player, 2) the player collective, 3) the poker market, and 4) society. The overall conclusion is that these different perspectives cause conflicting opinions on the 'goodness' of the sites. Our study also highlights the difficulties experienced by a state-owned gambling site in balancing social and corporate goals.


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