The aim of this work is to examine the impact of financial development, financial constraints and capital control on stocks market returns. The research looks into stock returns of emerging and developed economies over the period of 2004-2016 by using data, both by firm-level and country level, from 88 developed and emerging countries. Furthermore, the KZ, WW and SA indexes were used to classified as being financially constrained and financially unconstrained and the level of capital control of each group of countries is interacted with financial constraints. We aim to determine the relationship between the variables used as the measurement (depth, access, efficiency and stability) of financial development of a country, the financial constraint and capital control and their relationship to the stock market returns. Previous research focusing on stock market returns have dealt with different influences affecting the stock returns; however, the literature examining the influence of capital control on stock return is scarce. Our results suggest that the extended Fama and French three-factor model including macroeconomic and financial development variables and considering the presence of financial constraints help in the understanding in their impact on asset pricing for emerging and developed countries alike. / Este trabalho tem por objetivo examinar o impacto do desenvolvimento financeiro, das restrições financeiras e do controle de capital no retorno das ações. A pesquisa analisa o retorno das ações dos países emergentes e desenvolvidos durante o período de 2004-2016 através de uma base de dados de 88 países, emergentes e desenvolvidos, com dados tanto ao nível da firma como ao nível do país. Além disso, os índices KZ, WW e SA são usados para classificar as empresas como restritas e não restritas financeiramente, e utiliza-se também as interações do nível de controle de capital com as restrições financeiras. O objetivo é determinar a relação entre as variáveis de desenvolvimento financeiro do país (profundidade, acesso, eficiência e estabilidade), as restrições financeiras e o controle de capital com o retorno de mercado das ações. As pesquisas anteriores acerca do tema retorno lidaram com diferentes fatores que afetam o retorno de ações; entretanto, estudos envolvendo a influência do controle de capital no retorno de ações ainda são escassos Nossos resultados sugerem que um modelo composto coletivamente pelo modelo de três fatores de Fama e French e variáveis macroeconômicas e de desenvolvimento financeiro, considerando ao mesmo tempo restrições financeiras, ajuda na melhor compreensão do impacto de ditas variáveis no preço de ativos em países emergentes e desenvolvidos.

The purpose of this study is to investigate the use of sustainability storytelling in ecotourism organizations in Cambodia and Trinidad and Tobago. These two countries were specifically selected for a cross-case analysis due to their shared characteristics as developing economies. Ecotourism becomes a significant natural resource in driving the economic growth for both countries. A total of ten ecotourism organizations were chosen to participate in this study. The research analyzes three emerging themes. These themes include storytelling for sustainability, contextual factors in sustainability storytelling (media and setting), and perceived impact of sustainability storytelling in each representing country. Furthermore, the research conducts a comparative analysis of these three emerging themes in these both countries. The findings show that ecotourism leaders in both Cambodia and Trinidad and Tobago employ storytelling techniques as a tool to communicate their sustainability narratives, organizations’ missions, and ecotourism initiatives. Stories developed by these leaders are deeply rooted in personal experiences as founders and co-founders of the participating ecotourism organizations. However, a notable difference is the integration of aspirational elements in the storytelling approach. In Trinidad and Tobago, ecotourism leaders utilize various aspirational elements in the stories such as superhero characters, live-action drama, mascot characters, slogans and taglines, comic books, and graphic novels. On the other hand, Cambodian ecotourism leaders have not incorporated such elements due to challenges such as a lack of understanding in storytelling among internal employees, limited human and financial resources, and a lower level of awareness among community-based ecotourism members. In addition, the findings illustrate that storytelling has raised awareness, empowered the communities, and advocated for sustainable responsible tourism. Although positive impact resulting from storytelling is observed, these ecotourism organizations currently do not have appropriate measurement systems to assess actual impact and changes.

Although academic interest in TQM increased substantially in the last decade, still the gap in the literature is hardly surprising given that research and theory in TQM implementation are still at a very early stage in the West. To-date, there are only a handful of empirical researches reported in the literature that have attempted to identify what constitute as constructs of TQM that can be manipulated to effectively implement TQM. All but very few are studies done in developed economies. Moreover, knowledge of TQM in developing economies is almost totally lacking. Against this backdrop, this researcha ddressesth e identified gaps in the literature on TQM. Thus this thesis focuses on the effective implementation of total quality management in Palestine, a developing economy, through an empirical investigation of critical quality factors. The research methodology involves combining quantitative and qualitative methodologies to identify the key quality factors cited in the literature and considered by consultants and experts as essential to successful TQM implementation. The research design also included: Lan empirical investigation to assessth e level of TQM awarenessa nd understandingi n the Palestinian context, 2. determining which key quality factors are critical to successful implementation using a survey questionnaire, 3. determining what tactics and techniques are used in addressing and implementing these critical quality factors by Palestinian organisations, using semi-structured interviews, 4. determining the prerequisites of effective TQM implementation in the pre-launch stage using in depth interviews. By complementing and integrating the findings, an implementation framework was constructed with the support of the knowledge acquired from the literature review. A simple and practical step by step with implementation guidelines framework aiming at assisting Palestinian organisations in planning on effective implementation of TQM was constructed. The research findings indicate that top management commitment and involvement, employee commitment and involvement, managing by customer-driven system and processes and continuous performance improvement, are essential to effective implementation of TQM. This implies that Palestinian organisations recognise and implement the same critical quality factors found in Western countries. The proposed framework is built around four major constructs that relate to top management commitment, employee commitment, customer-driven system and processes, and continuous improvement. It emphasises an implementation approach of top-down deployment and bottom-up participation focussing on businessp rocessesth at add value to customers atisfaction. In conclusion, this empirical research revealed that TQM could be implemented in the developing economies (such as Palestine) as Palestinian organisations subscribe to the same quality factors as those found in the developed economies.

A closer look at innovation for and from emerging markets respectively developing economies reveals that a variety of different terms and concepts related to this type of innovation exist. The goal of my conceptual paper is to present a comprehensive overview of related terms and concepts and to suggest theoretical based classification criteria in order to differentiate them. After a first investigation in relation to innovation for and from emerging markets the keywords ‘reverse’, ‘frugal’, ‘jugaad’, and ‘bottom of the pyramid / bottom of pyramid / bop’ were identified and used for searching the database of Google Scholar. For further investigation only texts were considered with at least eight various terms. 19 different texts were identified which classified for a further analysis. As results 33 identified terms in relation to innovation for and from emerging markets, various spellings and synonyms and references with at least two mentions in the identified texts are presented. As theoretical based classification criteria ‘market orientation’, ‘determinants’ (of innovation for and from emerging market)’, ‘nature’ (of innovation for and from emerging markets), sophistication’, ‘sustainability’, ‘novelty’ and ‘innovator type’ were identified.

L'obiettivo di questa tesi è di estendere la teoria di effectuation guardando attraverso la lente di un contesto piuttosto nuovo come l'Africa. In questo modo, possiamo ampliare il nostro comprensione dell'effectuation delle dinamiche promettenti - in particolare - della pluralità istituzionale, della scarsità di risorse e delle attività imprenditoriali nell'economia informale. Nei seguenti capitoli presenteremo tre articoli che raccoglieranno gli argomenti delineati e quindi, essi dimostrare la fertilità del territorio africano per la ricerca imprenditoriale. / The objective of this thesis is to extend effectuation theory by looking at it through the lens of a rather new context such as Africa. By doing this, we can broaden our understanding of effectuation to promising dynamics – namely - to institutional plurality, resource scarcity, and entrepreneurial activities in the informal economy. In the following chapters we will present three papers which will pick up the outlined topics and hence, they demonstrate the fertility of the African territory for entrepreneurship research.

The productivity of Trinidad and Tobago's public sector workplaces is related to their absorptive capacity for technological adoption. Guided by the technology acceptance model, which suggests that individuals' and institutions' use of technology increases in relation to perceived ease of use and apparent value, this case study explored how Trinidad and Tobago used information and communications technology from 2001 - 2010 to improve public sector workplace productivity. Study data were collected from 22 individual interviews with senior executives from the government of Trinidad and Tobago, members of the e-business roundtable, and local industry experts, and from reviewing the archives of the Ministry of Public Administration and Information. The data were analyzed using keyword frequency comparison, coding techniques, and cluster analysis. The resulting themes include e-legislation, e-infrastructure, e-readiness, government e-services, and e-business. The study findings showed that Trinidad and Tobago's technology agenda centered primarily on connecting government ministries and agencies. It also ushered in a period of telecommunication liberalization, which provided sustainable and cost effective options for government, citizens, and businesses to access broadband technology services. The results of the study showed that this access to low-costs broadband technology provides a platform for digital inclusion by improving workplace productivity, providing access to additional opportunities for education via an online platform, and increasing employment opportunities.

Intense competition in the international markets has made the determinants of small and medium-sized enterprises (SME) competitiveness an important asset in the export business, making of policies, strategies and decision making by businesses. SMEs are often seen to be disadvantaged for a variety of reasons, including inappropriate internal structures, lack of capabilities, insufficient resource support and apparent lack of foreign-market knowledge. The nature of international markets and the disadvantages SMEs face, make it imperative to examine the determinants of SME international competitiveness. Although some literature has recorded some studies on internationalisation of SMEs in developed economies, there is insufficient study of SME internationalisation, particularly in the context of non-traditional horticultural SME exporters in developing economies. Hence, the study aims to evaluate the determinants of non-traditional horticultural exporters’ international competitiveness by addressing the question: To what extent are non-traditional horticultural exporters in Ghana competitive in the international market? In the context of this study nontraditional horticultural exports exclude cocoa beans, logs and lumber. The study enriches the literature on internationalisation of SME exporters in developing economies by providing guidance for future research in a field of SME international business. The theoretical foundations of the study draw mostly on three perspectives: the resource based view, international entrepreneurship and institutional theory. From the review of literature, a conceptual framework was developed: ME international competitiveness is conceptualised in this research as government support factors, entrepreneurial factors and a firm’s internal factors. At the empirical level, the study employed qualitative and quantitative approaches which involved surveying 105 non-traditional horticultural exporters (respondents) in Ghana. Six hypotheses were tested on the key issues in this project, which were statistically analysed, employing logit regression, Pearson correlation and chi square. Secondly, the study uses six export facilitating institutions which were interviewed to gain understanding of the services these institutions offer to non-traditional horticultural SME exporters in Ghana. The main findings suggest that Ghana government support policies, access to finance, Technological Innovation, number of years in business, the size of the firm, Entrepreneurial Factors and the number of exporting destinations of the nontraditional horticultural SME exporters have had positive impact on the competitiveness of horticultural SME exporters in international markets. The findings also contribute, to some extent, to the advancement of the empirical, theoretical and managerial understanding of SME international competitiveness in developing economies. The research contributes to the international business literature by providing a model for understanding the determinants of horticultural SMEs’ international competitiveness. This highlights the important role of government, the entrepreneurial orientation, and a firm’s internal factors in realising SME competitiveness. The research also provides guidance for policy makers and SME business facilitators in implementing export-led programmes for horticultural exporting firms in Ghana.

In many developing economies, a high percentage of domestic energy demand is for cooking based on fossil and biomass fuels. Their use has serious health consequences affecting almost 3 billion people. Cleaner cooking systems have been promoted in these countries such as solar cooking and smokeless stoves with varying degrees of success. In parallel, solar electrolytic hydrogen systems have been developed and increasingly used during the last 25 years for electricity, heat and automobile fueling applications. This study has developed and tested experimentally in the laboratory a solar hydrogen plant numerical model suitable for small communities, to generate and store cooking fuel. The numerical model was developed in TRNSYS and consists of PV panels supplying a PEM electrolyser of 63.6% measured stack efficiency and hydrogen storage in metal hydride cylinders for household distribution. The model includes novel components for the operation of the PEM electrolyser, its controls and the metal hydride storage, developed based on data of hydrogen generation, stack temperature and energy use from a purpose constructed small-scale experimental rig. The model was validated by a second set of experiments that confirmed the accurate prediction of hydrogen generation and storage rates under direct power supply from PV panels. Based on the validated model, large-scale case studies for communities of 20 houses were developed. The system was sized to generate enough hydrogen to provide for typical domestic cooking demand for three case-studies; Jamaica, Ghana and Indonesia. The daily cooking demands were calculated to be 2.5kWh/day for Ghana, 1.98kWh/day for Jamaica and 2kWh/day for Indonesia using data mining and a specific quantitative survey for Ghana. The suitability of weather data used in the model was evaluated through Finkelstein Schafer statistics based on composite and recent weather data and by comparing simulation results. A difference of 0.9% indicated that the composite data can be confidently used. Simulations results indicate that a direct connection system to the PV plant rather than using a battery is the optimal design option based on increased efficiency and associated costs. They also show that on average 10tonnes of CO2/year/household can be saved by replacing biomass fuel with hydrogen. The potential of total savings in the three case-study countries is shown in the form of novel solar hydrogen potential maps. The results of this study are a contribution towards better understanding the use of hydrogen systems and enhancing their role in renewable energy policy.

Building a thriving information economy is a goal for many developing countries. This research helps identify the factors (inhibitors and motivators) that can be used to leverage the Information and Communication Technology (ICT) sector in a developing country to build a sustainable information economy that benefits other sectors of the economy. This is done by studying the current literature on this topic and then synthesizing the theoretical models to create a unified decision framework to help developing countries set their path to building a sustainable information economy. Drawing on past literature and extant theory, a novel ICT4D decision framework is built that provides a three-dimensional view based on 1) the ICT value chain, 2) key factors (e.g. infrastructure, policies, markets), and 3) stakeholders (e.g. industry, government, academia). This decision framework is then used to study the case of Palestine, where secondary and primary data are used to compare the critical success factors for Palestine with the general framework. This synthesized framework and critical success factors superset is expected to advance the field’s understanding of how both controllable and non-controllable country characteristics contribute to or inhibit the growth and development of an ICT sector in developing countries. In addition, the framework and identified success factors help in setting a future path for development. Results from both secondary data sources demonstrate the usability of the framework to analyze the current setting of the ICT sector, in addition, to help investigate a range of possible opportunities for action to reach a higher level of ICT success. Then, via a targeted set of interviews with academic, industrial, and governmental sources who are experts in the Palestinian ICT arena, an exploratory study was performed that focused on key critical success factors for future development of the ICT economy. Controllable factors that have the potential for sustainable action were identified. In the case of Palestine, it appears that despite having many challenges that are out of control, there seem to be many opportunities for change specifically in government and educational policies that can help the ICT sector in specific, and the Palestinian economy in general reach its real potential. Given the current political situation in Palestine, it was found that there is a great potential in creating new software products for export. The challenges in this particular area in the case of Palestine lies in the lack of adequate business skills to research the global market and to market products and services that can be offered by the Palestinian ICT sector. The findings should also help stakeholders see if the challenges to developing an ICT sector in Palestine are the same as those for any developing country, and where they are truly unique. The outcomes of this research have the potential to frame and inform economic development decisions that could define the future of the Palestinian state.

A closer look at innovation for and from emerging markets respectively developing economies reveals that a variety of different terms and concepts related to this type of innovation exist. The goal of my conceptual paper is to present a comprehensive overview of related terms and concepts and to suggest theoretical based classification criteria in order to differentiate them. After a first investigation in relation to innovation for and from emerging markets the keywords ‘reverse’, ‘frugal’, ‘jugaad’, and ‘bottom of the pyramid / bottom of pyramid / bop’ were identified and used for searching the database of Google Scholar. For further investigation only texts were considered with at least eight various terms. 19 different texts were identified which classified for a further analysis. As results 33 identified terms in relation to innovation for and from emerging markets, various spellings and synonyms and references with at least two mentions in the identified texts are presented. As theoretical based classification criteria ‘market orientation’, ‘determinants’ (of innovation for and from emerging market)’, ‘nature’ (of innovation for and from emerging markets), sophistication’, ‘sustainability’, ‘novelty’ and ‘innovator type’ were identified.