Search results

Stakeholder capitalism has been proposed as an alternative way of thinking about business purpose and value creation. However, stakeholder capitalism can only work as an alternative model of business if all stakeholders and their interests are visible to and taken seriously by managers. The purpose of this paper is to untangle the challenges that invisible, marginalized and powerless stakeholders pose for theorizing about stakeholder capitalism.

This paper is conceptual. The authors first briefly outline the promise of stakeholder capitalism for addressing pressing questions about value creation and stakeholder welfare. The authors then conceptualize stakeholder invisibility as the outcome of a particular stakeholder being both powerless and marginal through the prism of moral intensity theory and one of its elements: proximity. This study discusses the ways in which managers can make invisible stakeholders more visible in their decision-making.

For managers truly to manage for stakeholders, as anticipated by stakeholder capitalism, all stakeholders and stakeholder interests must be visible to them. This study analyzes why sometimes they are not, how they can be made more visible and why stakeholder visibility matters for stakeholder capitalism. This study proffers three principles for business practice: ethical commitments to reduce stakeholder invisibility, analyses of business strategies to surface the contributions of marginalized and invisible stakeholders and taking rights seriously.

This study provides a new perspective on stakeholder capitalism by linking the challenge in operationalizing it to the problems of stakeholder invisibility and marginality.

This study aims to examine the nexus between digital financial literacy and customers’ perceived financial behavior within the Kuwaiti context. Moreover, it will further explore how digital financial literacy relates to financial behavior dimensions.

Data collection was facilitated by creating a questionnaire derived from multiple literature sources. This study used a cross-sectional, time-based dimension. Data was analyzed using the partial least square (PLS) structural equation modeling approach, using the Smart-PLS 4 software for computation.

Findings demonstrated a significant relationship between digital financial literacy and financial behavior, with a path coefficient of 0.542, a p-value of 0.000 and an R² value of 0.581. The explorative model revealed substantial relationships between many dimensions of digital financial literacy and various dimensions of financial behavior. More precisely, financial knowledge, awareness and decision-making were the factors that had the most significant impact on financial behavior.

Kuwaiti policymakers should consider including digital financial literacy programs in comprehensive financial education programs to improve public understanding of digital financial instruments and their consequences.

As the authors know, this is the initial endeavor to evaluate the relationship between digital financial literacy, financial behavior and their respective dimensions.

This paper explores the relationship between droughts and U.S. agricultural sector profitability in select U.S. regions. We also examine the extent to which the farm safety net, including direct government payments and the federal crop insurance program, may compensate for the impacts of drought on farm sector profitability.

Fixed effect regressions estimate the relationship between drought and profitability for the farm sector. The analysis uses a panel of annual, state-level net farm income and its subcomponents (from the USDA, Economic Research Service) and state-level annual drought measures constructed from county crop damage days (as reported in the Spatial Hazard Events and Losses Database for the United States, or SHELDUS). SHELDUS includes Severe (D2) or more intense drought shocks for the states east of the Rocky Mountains, and these states provide the focus for our analysis.

Market net farm income negatively correlates with the drought measures. This relation is partially driven by the increase in production expenses during drought episodes. Further, sales from inventories tend to increase during drought periods. A significant share of damages to sector performance are offset by federal crop insurance program indemnities. Finally, our results show that drought impacts and the effects of the farm safety net are distributed differently across geographic regions.

To our knowledge, this study is the first attempt to examine drought impacts on the components of agricultural profitability, including the farm safety net and production expenses, at the sector level.