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There are many ways of viewing, interpreting and even conceptualizing Brazil, Russia, India, China and South Africa (BRICS) growth. This paper considers image regeneration and how this helps enhance place competitiveness. A focus on events and the spectacle they create also challenges to think about sustainable futures. This paper aims to supplement this focus on image regeneration and competitiveness, it is important to discuss and outline triple bottom line impacts as a framework to consider going forward.

Looking at the BRICS, the growing events, tourism and leisure industries transcend private and public business practices and can help align with more contemporary sustainable development practices and regeneration agendas. Such agendas can, in turn, help enhance destination competitiveness and image. While the authors need (and should) continue to assess and address economic impacts and development, it is just as important to consider environmental impacts and social impacts on a destination and its residents when considering competitiveness.

This conceptual paper frames insight from the literature to reflect on and consider research directions linked to triple bottom line impacts. The paper puts emphasis on the need to consider the social and environmental impacts of events.

This paper links conceptual discussions of image regeneration and competitiveness with triple bottom line impacts to look at directions for BRICS nations. It is useful for policymakers and planners who look at the “big picture” of event hosting and argues the need for more sustainable policy and planning agendas.

Man has been seeking an ideal existence for a very long time. In this existence, justice, love, and peace are no longer words, but actual experiences. How ever, with the American preemptive invasion and occupation of Afghanistan and Iraq and the subsequent prisoner abuse, such an existence seems to be farther and farther away from reality. The purpose of this work is to stop this dangerous trend by promoting justice, love, and peace through a change of the paradigm that is inconsistent with justice, love, and peace. The strong paradigm that created the strong nation like the U.S. and the strong man like George W. Bush have been the culprit, rather than the contributor, of the above three universal ideals. Thus, rather than justice, love, and peace, the strong paradigm resulted in in justice, hatred, and violence. In order to remove these three and related evils, what the world needs in the beginning of the third millenium is the weak paradigm. Through the acceptance of the latter paradigm, the golden mean or middle paradigm can be formulated, which is a synergy of the weak and the strong paradigm. In order to understand properly the meaning of these paradigms, however, some digression appears necessary.

Estimation of default and asset correlation is crucial for banks to manage and measure portfolio credit risk. The purpose of this paper is to find empirical relationship between the default and asset correlation with default probability, to understand the effect of systematic risk.

The authors have estimated single default and implicit asset correlations for banks and corporates in India and compare it with global scenario. This paper deduces a simple methodology to estimate the default correlations from the variance of temporal default rates. Next, the asset correlations have been estimated analytically by decomposition of variance equation in Merton's one factor risk model following approaches of Gordy and of Bluhm and Overbeck.

The authors empirically find a negative relationship between asset correlation and the probability of default using Moody's global corporate data that support Basel II internal ratings‐based (IRB) correlation prescription. However, they do not find any smooth relationship between the probability of default (PD) and asset correlation for Indian corporate. The magnitude of correlation estimates based on a large bank's internal rating‐wise default rates are much lower than what is prescribed by the Basel committee. Thus, the standardized correlation figures as assumed by the Basel Committee on Banking Supervision need to be properly calibrated by the local regulators before prescribing their banks to calculate IRB risk weighted assets.

These correlation estimates will help the regulators, insurance firms and banks to understand the linkage between counterparty default risks with the systematic factors. The findings of this paper could be used further in estimating portfolio economic capital for large corporate exposures of banks and insurance companies.

Notes increasing consolidation of the banking industry in the USA, Western Europe and Japan; and presents a study of 1980‐1994 acquisitions of US banks by large interstate banking firms. Considers possible motives for cross‐border expansion, reviews relevant research and compares the performance of target banks with their local competitors and their buyers; and buyers’ performance with their competitors. Finds that most buyers are located in rich, densely populated states and most targets in states which have traditionally restricted bank branching activity; that buyers and targets have very different performance profiles (although some differences gradually reduce after acquisition); and that local market influences have a greater effect than common ownership. Concludes that targets are selected for their location and expected future performance, with possible diversification benefits.

Devotes the entire journal issue to managing human behaviour in US industries, with examples drawn from the airline industry, trading industry, publishing industry, metal products industry, motor vehicle and parts industry, information technology industry, food industry, the airline industry in a turbulent environment, the automotive sales industry, and specialist retailing industry. Outlines the main features of each industry and the environment in which it is operating. Provides examples, insights and quotes from Chief Executive Officers, managers and employees on their organization’s recipe for success. Mentions the effect technology has had in some industries. Talks about skilled and semi‐skilled workers, worker empowerment and the formation of teams. Addresses also the issue of change and the training that is required to deal with it in different industry sectors. Discusses remuneration packages and incentives offered to motivate employees. Notes the importance of customers in the face of increased competition. Extracts from each industry sector the various human resource practices that companies employ to manage their employees effectively ‐ revealing that there is a wide diversity in approach and what is right for one industry sector would not work in another. Offers some advice for managers, but, overall, fails to summarize what constitutes effective means of managing human behaviour.

A review of the emerging scholarly literature on positive organizational scholarship indicates a need to pursue cognitive, emotional and motivational mechanisms which translate into positive states and outcomes in organizations. Responding to this, this paper aims to test a mediation model linking resilience and organizational citizenship behaviors (OCB) through subjective well-being (SWB) components (i.e. life satisfaction and affect balance) and organizational commitment (OC) components.

Data were collected from 345 employees working in the Indian manufacturing industry. The study used structural equation modeling using AMOS to conduct bootstrapped mediation analyses.

Results showed that SWB and OC components mediated the resilience-OCB relationship. Results offered strong support for the role of affect balance (high positive and low negative affect) and affective commitment in mediating the influence of resilience on OCB.

The study not only tested the applicability of resilience in an organizational context to predict coveted positive outcomes but also identified the underlying mechanism as how psychological resource capacities like resilience contribute to OCBs.

The purpose of this study is to examine the effect of board characteristics on foreign equity ownership (FEO) in the listed public limited companies of Bangladesh.

The study collected data from 418 annual reports of listed companies of Bangladesh for the years 2015, 2016 and 2017 to examine the effect of board characteristics on FEO. Ordinary Least Squares (OLS) and Two-Stage Least Squares (2SLS) regression methods are used to test the hypotheses of the study.

The results show that board size has significant negative influence on FEO. Other board characteristics variables such as board independence and female directorship appear to have an insignificant influence on FEO. However, several firm characteristics variables such as return on assets, market-to-book ratio, firm size and firm age have a significant positive relationship with FEO. While presenting the regression results separately for manufacturing and non-manufacturing firms, the findings reveal a number of differences in the results between the two sectors.

The major limitation of the study is that it concentrates only on three years annual report data in analyzing the hypothesized relationships.

Policy makers, regulators and top management can get meaningful insights with respect to optimal board structure and firm characteristics to attract foreign investors as the results revealed significant effects of several board and firm characteristics variables on FEO.

The present study includes the presence of female directors on the board to represent board characteristics. No other study has examined the relationship between FEO and female directors.

Audit committees (ACs) are a powerful tool in effective corporate governance. This study examines the functioning of ACs in Bahrain from the responses of 30 companies listed on the Bahrain stock exchange. Data were collected from questionnaires from companies and the audit firms. The study primarily focuses on the extent to which companies in Bahrain have been following the standard recommendations and guidelines provided by the blue ribbon committee (BRC). Size, type of auditors and industry type influence the establishment of ACs in Bahrain. The establishment of ACs have been slow yet, most of the companies have been following by and large BRC's recommendations. However, the concept of independent ACs is yet to be popularized in Bahrain. ACs do not report their findings to shareholders, but other functions seem to accord with the BRC's recommendations. However, some perceptions of audit firms negate the claims of the companies to comply with BRC recommendations.

A neo-institutional methodology defines the entrepreneurial environment for SMEs as a multidimensional set of interacting formal/informal institutions influencing regional economic growth. Acknowledging the multidimensional nature of SME growth, this study tests an approach to measure SME institutional environment quality through the identification of regional-level determinants.

The method used in this paper is based on Bruns et al.’s (2017) model and is tested on 81 Russian Federation regions. The approach seeks to determine variation in entrepreneurial ecosystems based on quality and estimated marginal effects of difference across geographical regions.

The most severe obstacle to SME development in Russia is its shadow economy and corruption. Access to finance, high transportation fees, and instability in the political and economic field ranks second and third, respectively. Results suggest governments should eliminate main obstacles at country-level, which hampers the SME sector's development. While this is noted for this case looking at Russia, this is a common argument found in SME research.

Findings from this study are useful in managerial practice, aimed at increasing innovative development and increasing the competitiveness of Russian SMEs. A neo-institutional approach is one of the theoretical strands with the emphasis on enhanced understanding of organizational behavior and social capital, including cultural norms and beliefs.

Utilizing an extended empirical approach to assess the institutional environment for SMEs addresses a research gap – offering novel insight on SME growth useful for policy makers. The results can inform managerial practices to increase SME contribution to economic growth.