The efficiency of physical capital accumulation plays a critical role for economic growth. This paper aims at examine if economic freedom promotes economic growth via physical capital accumulation. This is done by estimating a production function by replacing the inputs with institutional indices. The first input is GDP per capital growth rate which serve as a proxy for institutional aspects and the other input are the economic freedom indexes which will serve as proxies for physical capital accumulation. This is done by applying the augmented mean group (AMG) estimator that is designed for dealing with macro panel data analysis, including twenty developing countries where the economies have experienced a rapid growth, and the time period are between 1995 and 2017. The theoretical framework is based on the Solow growth model, institutional theory and marginal efficiency of capital (MEC). The results show that economic freedom promotes economic growth via physical capital accumulation where GDP per capital growth rate served as a proxy for institutional aspects and economic freedom indexes as proxies for physical capital accumulation. The results also show that the AMG estimator is the best fit for macro panel data analysis since it are designed for dealing with heterogeneity.

Academic literature has increasingly shown escape foreign direct investment (FDI) to be a strategic motive used by firms investing abroad to diversify their risk to their home market. Internationalisation allows firms to mitigate the risk of being based in uncertain environments characterised by underdeveloped institutions and economic weakness (institutional voids), which are seen as comparative disadvantages. By expanding abroad, firms reduce their dependence on the home market for their revenues and profits. To date, most existing research has explored the characteristics, drivers and motivations for outbound FDI from emerging economies, but has paid relatively less attention to the economic consequences of such investments. The aim of this study is to gain an understanding of the economic consequences of escape FDI. Understanding the economic consequences of escape FDI will enable managers of South African multinational firms (MNEs) to develop and implement internationalisation strategies that create value, as measured by an increase in market capitalisation, for the firm. Quantitative, explanatory research methods were adopted in order to gain new insights into the economic consequences of escape FDI. The study adopted a longitudinal, multi-industry design and was deductive in nature. The population was 85 firms, which were investigated over a 5-year period, with an interval between 2013 and 2018. The data was analysed using descriptive statistics followed by confirmatory regression analysis. The key finding was that South African MNEs who invested in emerging markets, particularly in multiple host countries in Africa whilst adopting a “portfolio approach” to their international investments, delivered exceptional performance, creating significant value in the process. The secondary finding was that individual firms who either invested in emerging markets or developed markets created and destroyed value evenly, confirming existing literature that firms are heterogeneous and that a firms place in time and space, and thus context, matters fundamentally. The findings from this research add to the extant literature in the field of international business by introducing the “portfolio approach” to international investment strategy and performance. The implications for management is that firms need to understand their ownership advantages in designing and implementing international investment strategies because escape based FDI and related economic performance can have profound direct consequences for the firm itself, but indirectly on the wider community as a whole. / Mini Dissertation (MPhil)--University of Pretoria, 2019. / Gordon Institute of Business Science (GIBS) / MPhil (International Business) / Unrestricted

Cette thèse étudie l'évolution des carrières, des rôles et de l’influence des Directeurs Financiers au regard du processus de financiarisation en France. En analysant la financiarisation et les Directeurs Financiers à travers une approche institutionnaliste, cette recherche présente leurs relations réciproques depuis les années 1980. Alors que le processus de financiarisation a influencé l'évolution de la profession de Directeur Financier, ces derniers ont de leur côté contribué à la financiarisation de différentes manières. Au moyen d'une approche méthodologique mixte, basée sur 1 040 Curriculum Vitae de Directeurs Financiers et 58 entretiens, cette thèse offre une étude approfondie et à grande échelle de l'évolution des Directeurs Financiers au regard du processus de financiarisation en France. / This dissertation investigates the evolution of the Chief Financial Officers’ (CFO) backgrounds, roles and agencies along with the financialization process in France. By studying financialization and CFOs from an institutional perspective, it presents their reciprocal relationships since the 1980s. While the financialization process has influenced the evolution of the CFO profession, CFOs also have various repercussions on financialization. Thanks to 1,040 resumes of CFOs and 58 interviews analyzed through a multiphase mixed method, this dissertation offers both a large scale and an in-depth study of the evolution of the CFOs along with the financialization process.

Audit delay refers to the time from the end of the country or company’s financial year to the date of the audit report. The chances of delay of audit in the public sector are pervasive and as such the expectations of users of these audit reports may differ which could result in the quality and reliability of these audits within this sector to be questioned. Accordingly, the purpose of this study is to explore the external and internal factors that cause audit delay and the aftermath they have on public sector audit quality. As for this study, its original value correlates with the espousal of the institutional theory from the perspective of public sector auditing. Considering the aim of this study, a qualitative research was preferred with the objective of gathering in-depth and enriched empirical data; hence, semi structured interviews were conducted with ten auditors of the top and middle management of the Supreme Audit Institution (SAI) of Liberia – General Auditing Commission. There are varying views regarding the findings of this study as the respondents disclose that the external factors that result to audit delays are caused by either the audited entity or other external parties and not the SAI; however, it is the responsibility of the SAI to work with the entity involved to ensure those factors do not impede the audit process to the extent it cannot be completed; whereas, internal factors which includes inadequate staff training, delay in the review and approval of the draft audit report by top management to the poor performance of auditors as a result of lack of knowledge and etcetera cause audit delays as well and the SAI is solely responsible for ensuring that they are resolved or lessened so as not to affect the timeliness of the reporting process. The study mentions several limitations. One of them is the lack of observation being conducted which would have provided first-hand information on factors that cause the delay of audits in the public sector.

Fire prevention is a critical component in achieving social welfare and prosperity. The lack of worldwide fire prevention leads to an increasing number of fires, as well as to a greater number of fire-related deaths, injuries, and fire-related property damage. Traditionally, fire prevention has been the responsibility of individual governments, while fire prevention duties are usually carried out by local fire departments. Such an approach is very common and is observed globally. Until now, the above response has been successful. For example, due to fire prevention measures applied in the 1990s, the number of fires caused by open flames (such as candles) was significantly reduced. Since 2014, the number of fires in some Western countries (e.g., the US and the UK) shows an increasing trend. In March 2019,11, people have died in fires across Connecticut (O’Neill 2019). From 2017 to 2018, the number of people who died in fires in Mississippi grew by more than 40 percent (Moore 2019). Among the main reasons for this growth are new combustible materials, reduced fire prevention funds, and more dynamic lifestyles. Lack of fire prevention consequently increases fire risks, and, as a result, health inequalities. According to Whitehead and Dahlgren (2007), health inequalities are health differences that are avoidable, unjust, unfair, and unacceptable. The question arises: do current fire prevention services allow sufficient support for people to be safe from fire, specifically in domestic environments? Can social enterprises play a role and how do they fit into the fire prevention supply chain. The purpose of this research is to gain an understanding of social enterprises and their influence on supply chains, in general, and specifically for fire prevention supply chains. This phenomenon is evaluated through the lenses of social capital theory and institutional theory. Research (Rothstein and Stolle 2008) has shown the effects that social capital has on institutions, or simply how can it be used as a strategic resource (Gulati and Gargiulo 1999). Institutional and Social Capital Theories set the foundation of how social enterprises transform and contribute to sustainable supply chains, plus how they solve social problems, specifically fire safety (Patuelli and Savioli 2016). According to Wallace and Wallace (1997), social capital provides a collective resource that can be mobilized by individuals to enable communities to develop resilience against severe threats to public health, such as social exclusion or even unemployment. By identifying three dimensions of sustainable development: techno-economic, ecological and social (Clift 2003; Hutchins and Sutherland 2008; Yakovleva and Sarkis 2010), there are various social capital diffusion mechanisms for building sustainability within supply chains through social enterprise involvement. Transforming supply chains by building social legitimacy and by altering institutional norms, are examples of providing competitive advantages to supply chains and supply chain partners of social enterprises. This research seeks to understand social enterprises and entrepreneurship capabilities transform institutions to strengthen supply chain sustainability. Ideally, these institutions should provide solutions to the problem of decreased awareness of sustainable fire prevention, as well as available resources for fire prevention. This research focus is primarily on social sustainability and safety through fire prevention. The importance of this study lies in our contributions to help diffuse socially sustainable solutions and practices across supply chains. In this case, similar to other social concerns, the problem of fire prevention is a critical one within supply chains and society. Understanding the role of social enterprise to help diffuse these norms and practices help to understand general supply chain sustainability concerns for competitive and social reasons. Methodologically, a qualitative, exploratory method was applied. To analyze the data collected for this research, we used a Thematic Analysis. Three supply chains with social enterprises as a focal firm were investigated. This research contributes by furthering the theory of sustainable supply chains with the involvement of social enterprise; or hybrid organizations - that have both a social and a strategic financial outlook. The research involves the utilization of Thematic Analysis, and semi-structured interviews of three fire prevention-focused supply chains. This study is the first that investigates fire prevention from the perspective of supply chains and social enterprises. The results will inform other types of sustainability and social enterprises, which include humanitarian, environmental, educational, and poverty-based foci.

The purpose of this research is to provide an understanding of the relationship that may exist between the institutional determinants and the inward flow of FDI in France. Indeed, the French government and various decisions-makers have attributed the unique growth of the inward flow of FDI to the institutional quality of the country. Moreover, to support this assumption, scholars and experts describe France as an institutionally powerful country. Therefore, in order to test this assumption, we have designed an explanatory analysis of the institutional determinants’ indexes from the WGIs over the period from 2005 to 2018 to test their likely relationship with the FDI inflows in France using descriptive, correlation and regression analyses. This study is based on the rich and furnished literature addressing the role of institutional characteristics in attracting FDI. Although our research has been impacted by the Coronavirus pandemic in terms of data collection and analyses, the corroborating evidences from the empirical findings do not validate the raised hypotheses and bring out many practical implications beneficial for national and local policymakers as well as companies’ managers in the worldwide FDI location competition.

Background: Social media has become a big part of our society. One platform that has had remarkable growth in popularity is Instagram. In Sweden, Instagram had 5.75 million users in 2021. The evolution of Instagram created an opportunity for people to establish new careers as social media influencers (SMIs). Today, SMIs are professional content marketers who monetize their large following making them dependent on being able to influence their followers.  Purpose: This paper aims to explore how SMIs can influence their followers on Instagram. A macro and micro perspective will be combined to create a broad and holistic understanding of the phenomenon. The study leverages on two theories; institutional theory and relationship marketing. Furthermore, the empirical context of this study is the SMI Bianca Ingrosso. Together, the theories and empirical data will address the research question.  Method: This is qualitative research that includes a netnography and 12 semi-structured interviews. The findings are analyzed with a thematic analysis approach.  Conclusion: Based on the frame of reference and empirical findings, a conceptual framework has been developed that gives a clear overview of the research subject. The authors have identified that SMIs can influence followers by acting according to Instagram’s logic, and they can exploit their legitimacy to increase their influence. Furthermore, SMIs make sure to maintain and build on their relationship with their followers by engaging in relationship marketing.

Background: Digital technologies have been revolutionizing the corporate world during the last few decades. Companies that want to keep their competitive positions are forced to adapt. The digitalization of the corporate Human Resource function is of special importance in this regard due to the increasing role of digitalized HRM for business success. The existing research on the digital HRM implementation environment and the factors that shape it is limited to bigger companies operating in developed economies, with nascent research available for small and medium-sized firms operating in emerging economies. Purpose: The purpose of this study is to explore how individual-, firm-level and environmental context-specific factors shape HRM digitalization in SMEs in emerging economies context with Russia as an example. Method: To achieve an in-depth understanding of the research phenomenon, a qualitative study with an exploratory design was conducted. Empirical data was gathered through semi-structured interviews with ten professionals with extensive experience in HRM digitalization in SMEs, chosen by purposive sampling method. An abductive research approach enabled establishing the connection between obtained empirical insights and existing knowledge from the literature on HRM digitalization. Conclusion: As a result, the following factors were identified as the most influential for the implementation of digital HR tools in Russian SMEs. At the individual level, it is top executives digital awareness and innovativeness that facilitate implementation. At the firm level, it is SME’s resource munificence, innovation-friendly corporate culture, low hierarchical structure and developed IT infrastructure that enables implementation. Finally, among context-specific factors, the following appeared to shape the implementation: declining national economy, unpredictable business environment, highly competitive business environment, IT vendors' market specificity, governmental policy in terms of digitalization, labour market specificity. Most of the contextual factors contributed to the disabling environment for HRM digitalization, with a few exceptions.

Background: CEO compensation as a phenomenon is a well explored topic in both forprofit and non-profit organisations but limited research is made on sports organisations. Due to the important social role that sports organisations entails, one can argue for the need to investigate the purpose of CEO compensation in these organisations as well. Purpose: The main purpose of this study is to explore the purpose of CEO compensation in sports organisations. The purpose of executive compensation will further be studied from both a CEO perspective as well as from the board perspective. Method: This thesis has an abductive research approach and proceeds from previous theories within corporate governance to investigate the purpose of CEO compensation in sports organisations. The empirical part consists of a qualitative interview study to investigate if previous theories are applicable to explain the purpose of CEO compensation in these organisations or if there exists other, unexplored purposes. ii Findings: The findings of the study suggests that the view on the purpose of CEO compensation in sports organisations is different from the board perspective and the CEO perspective. From the board perspective, the purpose appears to be to control the behaviour of the CEO, to gain organisational legitimacy, to make the organisation more business-oriented and to attract individuals with shared interests. On the other hand, from the CEO perspective, the purposes appear to be to increase the motivation and to attain individual legitimacy.

Bakgrund: Revision har en samhällsnyttig funktion eftersom den bland annat har som syfte att säkerställa att inga oegentligheter förekommer i redovisningen som används som beslutsunderlag. En revisor utför revisionen och en förutsättning för att denna ska kunna ske på ett korrekt sätt är att revisorn är oberoende i sina bedömningar. År 2002 infördes en lag i Sverige som bygger på en standard benämnd analysmodellen. Syftet med införandet av modellen är att säkerställa revisorns oberoende. Modellen är en självgranskningsmodell som revisorn använder för att pröva sitt oberoende genom att ta hänsyn till fem olika typsituationer som utgör ett hot mot oberoendet samt en generalklausul. Syfte: Syftet med studien är att skapa förståelse för hur analysmodellen uppfattas av revisorer samt beskriva hur revisorer agerar för att motarbeta hot mot oberoendet. Metod: Studien är genomförd med en kvalitativ metod, och närmare bestämt semistrukturerade intervjuer. Detta för att metoden är tillämplig när syftet är att beskriva samt skapa förståelse. För att uppnå syftet krävs en djup förståelse för revisorers uppfattningar av analysmodellen och hur de agerar för att motarbeta hot som finns mot oberoendet. Teoretisk utgångspunkt: Institutionell teori och teorin om meningsskapande används i studien för att analysera likheter och olikheter i uppfattningar och agerande. Institutionell teori har använts för att analysera likheter på organisatorisk nivå. Meningsskapande har tillämpats för att analysera både likheter och olikheter på individnivå. Slutsats: Studien visar att analysmodellen uppfattas på ett likartat sätt av revisorerna. Analysmodellen anses vara ett tillräckligt verktyg för att hantera oberoendefrågor. Det förelåg inga väsentliga olikheter i sätten revisorer agerar på för att motarbeta hot mot oberoendet. Studien visar dock att det föreligger mindre olikheter som framförallt kan förklaras av att revisorernas personliga erfarenheter skiljer sig åt. / Background: Auditing has a socially beneficial function because, among other things, it aims to ensure that there are no irregularities in the accountancy underlying the decision-making process. An auditor performs the audit and a prerequisite for this to be undertaken in a correct manner is that the auditor is independent in his or her assessments. In 2002, a law was introduced in Sweden based on a standard denoted “analysmodellen”. The purpose of introducing this model was to ensure the auditor's independence. The model is based on self-examination in which the auditor has to test his or her independence by taking into account five different types of situations that pose a threat to independence as well as a general legal clause. Purpose: The purpose of the study is to create an understanding of how “analysmodellen” is perceived by auditors as well as to describe how auditors act to counteract threats to their independence. Method: The study is conducted using a qualitative method; more specifically semi-structured interviews. The reason is that this method is applicable when the purpose is to create an understanding as well as a description of the process under consideration. Achieving the purpose requires a deep understanding of auditors' perceptions of ”analysmodellen” and what steps they take to counteract threats to independence. Theoretical starting point: The theories used in the study are institutional theory and the theory of sensemaking, this in order to analyze similarities and differences in perceptions and actions. Institutional theory has been used to analyze similarities at the organizational level. Sensemaking has been used to analyze similarities as well as differences at the individual level. Conclusion: The study shows that “analysmodellen” is perceived in a similar way by the auditors. The auditors consider it as a sufficient tool for dealing with the issues of independence. There were no significant differences in the way auditors acted to counter threats to independence. However, the study shows that there are minor differences that primarily can be explained by the fact that the auditors' personal experiences differ.