Claire Silvant and Clément Coste
The year 1848 is considered by historians as a political and economic turning point in France: a major political crisis took place in the form of the February Revolution…
Abstract
The year 1848 is considered by historians as a political and economic turning point in France: a major political crisis took place in the form of the February Revolution, accompanied by extensive financial troubles for the French government. The economists of that time actively debated the economic causes and consequences of the crisis. This chapter is devoted to the analysis of these financial controversies in French economic thought around 1848. If the political and philosophical debates of 1848 between the liberals and the socialists are quite well known by historians of economic thought, their financial side has been relatively neglected. According to the authors of this chapter, it is nevertheless of great interest to examine the liberal and socialist ideas of that time. This chapter aims to investigate this little-studied question by raising three main issues: the first one consists of presenting the different diagnoses of the 1848 financial crisis from socialist and liberal viewpoints. Second, it proposes an analysis of the content of theoretical controversies about ways to overcome the financial troubles, particularly regarding the trade-off between taxation and debt. Lastly, it emphasizes the role of this period for the subsequent constitution of a financial orthodoxy in France.
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Davide Forcella and Jean-Michel Servet
This chapter aims to use the theory of commons to reflect on the mechanisms that supported the recent (micro)financial crisis. This approach naturally extends the analysis of the…
Abstract
Purpose
This chapter aims to use the theory of commons to reflect on the mechanisms that supported the recent (micro)financial crisis. This approach naturally extends the analysis of the growing field of green microfinance and the financialization of commons and in particular the environment.
Methodology/approach
The study provides a theoretical analysis of the recent crisis and the introduction of the environmental dimension to microfinance. This theoretical analysis is supported by extensive experience in many years of field research and qualitative and quantitative analysis of the (micro)financial crisis and green microfinance. The theoretical analysis is based on the results of previous research developed using primary and secondary data.
Findings
Using the theory of commons we interpret the recent crisis and the financialization of the environment as the tragedy of commons.
We highlight that when the private profit prevails over community benefit, both at the financial and environmental level, efforts toward financial inclusion and environmental conservation could instead lead to financial crisis and environmental damage.
Research implications
Financial inclusion and environmental economy cannot be analyzed simply in terms of economic utility; a systemic view that embraces the complexity of poverty and the human–environment system is required to assess the actual outcomes of programs dealing with financial inclusion.
Practical/social implications
Policymakers, international agencies, and implementing institutions such as financial intermediary institutions should question an oversimplistic view of financial inclusion and the economic value of environmental goods. They should instead include in their analysis and program design considerations of the complex interactions between actors, collective behavior, and emerging properties of human and environmental systems.
Originality/value
The theory of commons is employed to analyze both financial inclusion and green microfinance. We propose that (micro)finance should be understood and managed as a common good to support the development of a socially, economically, and environmentally sustainable financial system.
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Pascal Bacoup, Cedric Michel, Georges Habchi and Magali Pralus
This paper deals with the subject of “Lean Normalization.” The purpose of this paper is to propose a comprehensive methodology which combines the benefits of both International…
Abstract
Purpose
This paper deals with the subject of “Lean Normalization.” The purpose of this paper is to propose a comprehensive methodology which combines the benefits of both International Organization for Standardization (ISO) standards and Lean Management. The application of this methodology leads manufacturing or service companies to certification without creating more documentation. It guarantees agility and flexibility in the day-to-day management of the company, and induces lower costs and reduced times. This methodology provides a new way of tackling the implementation of ISO standards in a company.
Design/methodology/approach
This methodology is based on the synergistic combination of both ISO standards (Quality Management System) and the key concepts of Lean Management. After a short presentation of ISO standards and Lean Management, the possibility of implementing a synergy between these two different approaches will be discussed. At this point, ISO 9001 standards will be focused on. The proposed methodology will be introduced step by step. Each step of the model will be formalized using the Structured Analysis and Design Technique graphic representation tool. Moreover, each step is associated with a key concept of Lean Management. In order to illustrate the proposed method, an example of implementation will also be presented.
Findings
To show the feasibility of this methodology, this paper finishes with a summary of the results achieved in a company and draws some interesting conclusions. Companies have the possibility of achieving certification in combination with a Lean Quality Management System (LQMS): a one-page quality manual, only ten records, no major non-conformities and no customer complaints over a two-year period.
Research limitations/implications
The methodology may have to be adapted to better suit the needs of companies seeking to implement the latest version of the ISO 9001 standards.
Practical implications
This paper presents the deployment of ISO 9001 standards whilst simultaneously respecting key Lean Management concepts. The practical results for enterprises are the implementation of an LQMS leading to a certification.
Social implications
This paper presents a new method combining both ISO standards and Lean Management concepts to achieve certification with an LQMS.
Originality/value
Due to its simplicity and the relevance of its steps, the proposed methodology can be applied to companies with a guaranteed success of certification.
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Malissa A. Clark, Gregory W. Stevens, Jesse S. Michel and Lauren Zimmerman
This chapter examines the role of leader workaholism in relation to their own and their followers’ well-being. We begin with an overview of workaholism, along with a description…
Abstract
This chapter examines the role of leader workaholism in relation to their own and their followers’ well-being. We begin with an overview of workaholism, along with a description of how workaholism may relate to typical leader behaviors. We propose a conceptual model linking the various components of workaholism to leaders’ well-being and followers’ well-being. In our model, we propose that leaders’ workaholism can negatively influence their own well-being, and also their followers’ well-being through interindividual crossover of affective, cognitive, and behavioral components of workaholism. Furthermore, the negative well-being outcomes experienced by the workaholic leader can also crossover to the followers through interindividual strain–strain crossover. Several moderating factors of these relationships are discussed, as well as avenues for future research.
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Kenneth J. Smith, David J. Emerson and George S. Everly
This paper examines the influence of stress arousal and burnout as mediators of the negative relations between role stressors and job outcomes (satisfaction, performance, and…
Abstract
This paper examines the influence of stress arousal and burnout as mediators of the negative relations between role stressors and job outcomes (satisfaction, performance, and turnover intentions) among a sample of AICPA members working in public accounting. It extends prior research which examined these linkages (Chong & Monroe, 2015; Fogarty, Singh, Rhoads, & Moore, 2000; Smith, Davy, & Everly, 2007) by evaluating a model that simultaneously incorporates stress arousal and the three fundamental dimensions of burnout, i.e., emotional exhaustion, depersonalization, and reduced personal accomplishment. This paper also utilizes a recently validated stress arousal measure designed to capture the worry and rumination aspects of arousal posited to be responsible for a number of negative personal outcomes.
The results indicate that role stressors, mediated by stress arousal and the individual burnout dimensions, have a negative influence on job outcomes. In line with predictions regarding the temporal ordering of stress arousal and burnout in the model, each of the job stressors had a significant positive influence on accountants’ stress arousal, and the influence of the individual role stressors on each burnout dimension was either partially or fully mediated via their relations with stress arousal. In turn, the influence of stress arousal on each of the job outcomes was either partially or fully mediated through its relations with emotional exhaustion.
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The author presents a synthesis of research on the concept of territory in the field of tourism, taking into consideration the point of view of visitors, local population…
Abstract
The author presents a synthesis of research on the concept of territory in the field of tourism, taking into consideration the point of view of visitors, local population, politics an dpublic administration, as well as organizers and sales persons. His research is based on the results of studies in the alpine region as one of the most important tourism areas.
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Juan M.C. Larrosa, Emiliano M. Gutiérrez, Gonzalo R. Ramírez Muñoz de Toro and Juan I. Uriarte
The purpose of the study is to investigate micro determinants for dynamic wine pricing in Argentina. We test whether attributes and time affect the price rate of change. The rate…
Abstract
Purpose
The purpose of the study is to investigate micro determinants for dynamic wine pricing in Argentina. We test whether attributes and time affect the price rate of change. The rate of change is selected given the inflationary context of the country. The analysis provides valuable information for wine marketing decisions.
Design/methodology/approach
The modeling approach relies on panel data analysis for exploiting the data cross-section and time dimension. The contribution explores a massive price dataset at a weekly frequency. The dependent variable is the weekly price variation rate for product/wine and covariates are attributes, time and nominal variables. Given that endogeneity issues arose, the estimations rely on a two-stage least squares and instrumental variables with cluster-robust errors.
Findings
Estimations show that attributes, time and cost variables are statistically significant, with clear seasonal patterns and quality segmentation affecting pricing: wines made out of specific grapes such as Chenin, Merlot and Seedling or composing a broad category such as red wine, exhibit price undershooting (price rate of change below average). On the other hand, wines out of grapes such as Bonarda, Margaux, Mistela, Moscatel, Oporto, Tannat and Sauvignon Blanc show price overshooting (rate of change above average). In summary, wine made from determined grapes and specific wineries show divergent pricing.
Research limitations/implications
Covariates such as alcohol content, label descriptor information, winery history, substitute competition and vintage, among others, have not been considered given that the research analyzes more than 750 wine products. Another limitation is that the work does not explore many time-series covariates, such as promotions and idiosyncratic shocks.
Practical implications
The contribution presents new information on wine pricing patterns affected by weeks, months and years, including the effect of the prolonged 2020 Argentine lockdown. It also analyzes estimations on pricing at the level of grape/blend and wineries previously unknown in this market. The information can influence inventory decisions on the side of the sellers and purchase decisions on the side of consumers.
Social implications
The analysis includes fine but also low-cost wines that form part of the diet of low-income families in the country. The work detects a divergent pattern in pricing divided by the quality/price of the wine. It also presents information on price timing that may help consumers in the best moment to buy.
Originality/value
The contribution analyzes unprecedented information on weekly wine prices and presents evidence of pricing tactics from a point-of-sale perspective: It identifies different adjustment speeds related to product features and time effects.