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Growth by acquisition has been one of the major characteristics of the industrial scene during the last decade. In the U.K. this pattern of growth was evidenced at the beginning of the decade by the emergence of the industrial holding companies of which Thomas Tilling has been the most consistently successful. The strategy of the industrial holding company, frequently selling on very high price per earnings ratios, was to take over a number of small private companies with the intention of improving previous management performance. However, central control of the industrial holding company was weak and preferred not to become too deeply involved in the new subsidiary's business. The previous owners were frequently retained to manage the business following acquisition. But when they decided to leave—having become rich men on selling their business—effective management was generally non‐existent. The resultant fall in earnings was inevitable as was the fall in stock market rating; this fall in price/earnings ratio precluded subsequent use of equity in acquisitions.

The financial analysis of international investment decisions is complex. The basic methodology which homes in on incremental cash flows needs to be refined in order to focus upon cash flows which are remittable to the parent company, for it is only these that would logically add shareholder value. Build in the complications of two lots of tax and changing exchange rates and the equation looks anything but simple. But there is another complexity too which renders the traditional discounting methodology less than wholly appropriate. And this applies not just to international investment but to any situation where capital is committed with an option to expand or curtail embedded in it. This is not to say that the typical model cannot be adapted to meet the situation. It can and it is not too difficult.

In a critical article in the last issue of Personnel Review the two major approaches to Human Resource Accounting (HRA) were examined and the salient criticisms arrayed. The present short comment seeks to amplify further some of these debates and to enlarge the compass of the concept. Two further approaches will be examined briefly; that of competitive bidding as a means of human valuation, and systems simulation as a means of operationalizing a conceptual framework which involves HRA.

A quarter of a century has passed since Stonehill and Nathanson (1968) surveyed multinational companies to determine their foreign capital budgeting practices. Since then, research has not only refined its theoretical base on this subject but also expanded the knowledge of actual practices by multinational companies. This article summarizes the findings of major multinational capital budgeting studies for the last 25 years to ascertain whether companies followed theoretically prescribed approaches. Then, it suggests further research to advance the knowledge on this subject.

DESPITE assurances from the Union most concerned that “every endeavour will be made to keep Montague Burton workers in employment” it seems inevitable that the massive redundancies announced a month ago will take place. Nor does it seems possible that these unfortunate people will readily find employment elsewhere — certainly not in the towns where they are living and working now. In every sense, it will mean a major upheaval for most of them.

Aim of the present monograph is the economic analysis of the role of MNEs regarding globalisation and digital economy and in parallel there is a reference and examination of some legal aspects concerning MNEs, cyberspace and e‐commerce as the means of expression of the digital economy. The whole effort of the author is focused on the examination of various aspects of MNEs and their impact upon globalisation and vice versa and how and if we are moving towards a global digital economy.

This chapter considers the process of entrepreneurial activity to deploy financial technologies (fintech) through mandate-specific new companies in Latin America. We deal with important historical issues such as defining the term, establishing temporal and industrial activity boundaries, positioning this particular process within other organizational forms typical of the region, the role of women, and other relevant issues such as the modernization of retail payments and personal lending. A central question is whether fintech start-ups have had a “scissor” effect in the entrepreneurial process of Latin America: at the base of the pyramid (i.e., reducing frictions to support overall entrepreneurial activity, increasing financial inclusion, etc.) and near the top (by creating new business leaders). As a result, this chapter provides an initial assessment of gender disparities and barriers enabling women entrepreneurs in the fintech ecosystem.

This chapter examines three common fintech use cases transforming the financial industry. First, the chapter introduces fintech's role in enhancing financial services and promoting financial inclusion, especially through digital platforms. Second, it investigates various fintech applications that support financial institution management by harnessing the power of artificial intelligence (AI) and machine learning (ML). Finally, the chapter explores fintech use cases related to the regulatory environment, including regulatory technology (regtech), blockchain technology, and cryptocurrencies. The insights presented in this chapter cater to researchers and practitioners keen on better understanding fintech's diverse applications in the ever-evolving financial industry landscape.

Purpose: This chapter aims to lay out the issues regarding the world of digital currencies, private and central bank digital currency (CBDC). In that connection, the authors want to, as much as possible, systematically present the terminology, examples of various digital currencies and the technology behind that phenomenon. The chapter also highlights the occurrence of CBDC and the possible implications of its introduction to day-to-day commercial banking practice, possibly taking the payment systems and transactions alternation, balance sheet and profits’ issues into consideration.

Need for the study: Digital currencies already have and are also soon going to have an enormous impact on society as such, where payments for everyday goods and services are taken on a whole new platform and level, in the sense of how the payments are made and payment systems are constructed, as also in the sense of quantity, as the number and sum-wise payments carried out via such platforms are growing.

Methodology: A triangulation method, a mixed qualitative methodological approach was implemented, so the research offers a synthesis of previously published contributions in this field, followed by deductive and inductive reasoning interconnected with descriptive and comparative analyses.

Findings: As digital currency already have a vast impact on payment systems and modes of payment, the CBDC, an imperative of today and not the matter of the future, will have implications for commercial banks, probably in the field of lowering banks’ commissions, no big customer data-selling ability, accumulating the deposits and deposit policies and credit policies due to higher funding costs for banks. There is an interwovenness among the central bank activities, bank customer’s behaviour and commercial bank activities. Therefore, the change of payment and spending behaviour of customers because of central banks’ introducing novelties will also have consequences for the banking industry.

Practical implications: The choice to handle cash or digital currency will be obsolete, and an individual’s or a firm’s financial knowledge must be upgraded in the field of new money using angles. The issue of digital currencies and CBDCs are no longer a matter of choice but are becoming a new reality. Therefore, it is necessary for the common public, economy and banking system, especially now carrying out most of payments and transfers of money, to study this field and foresee the possible consequences and risks emerging.