Economic growth in emerging economies has been changing the livelihoods of many smallholders. Typically, disparity increases as economies emerge, and the agricultural sector experiences lower growth relative to other sectors. Growing inequalities and economic vulnerabilities during this critical period of development in emerging economies are often associated with social problems and political tensions, as this is the case in Thailand. In the latter, the Philosophy of Sufficiency Economy (SE) has been employed through the monarchy in a number of ways. Due to laws prohibiting critique of the monarchy, these projects are not fairly evaluated and the perspectives of smallholders affected are largely unknown. Knowledge on the effectiveness of Thailand’s Philosophy of SE in combating the disparity problem and economic vulnerability in the agricultural sectors of emerging economies was gained through semi-structured interviews. An organic farming project run by a Non-Governmental Organization (NGO), called ISAC follows the principles of Sufficiency Economy, and is located in the Mae Taeng district in the north of the province of Chiang Mai. A sample of 20 farmers from two villages (Don Chiang and San Pa Yang) who participate in the project was interviewed. Questions regarding age and education level of all family members also created a quantitative sample of 72 individuals. An epistemological framework based in critical realism was employed with the use of purposive interview sampling methods Results indicate that employing SE can help a select group of farmers to escape economic vulnerability. This group includes farmers in an older age group with sufficient land and access to guidance. The philosophy may help keep this group of farmers satisfied as the countries economy evolves. The project appears to be sustainable only in the short-term as younger generations seem to be reaching higher levels of education than their elders and are likely to pursue lives outside of agriculture. In addition, some benefits of farming with the principles of SE include, lower financial stress, improved health, and a better family life. Conversely, a decision to live by the principles of SE can lead to a stigmatization of farmers within their community, creating in-groups and out-groups.

京都大学 / 0048 / 新制・課程博士 / 博士(経済学) / 甲第22682号 / 経博第618号 / 新制||経||293(附属図書館) / 京都大学大学院経済学研究科経済学専攻 / (主査)教授 柴田 章久, 准教授 高橋 修平, 教授 佐々木 啓明, 教授 敦賀 貴之(大阪大学) / 学位規則第4条第1項該当 / Doctor of Economics / Kyoto University / DGAM

京都大学 / 0048 / 新制・課程博士 / 博士(経済学) / 甲第20652号 / 経博第552号 / 新制||経||282(附属図書館) / 京都大学大学院経済学研究科経済学専攻 / (主査)教授 黒澤 隆文, 教授 渡辺 純子, 准教授 COLPAN Meziyet Asli / 学位規則第4条第1項該当 / Doctor of Economics / Kyoto University / DFAM

Yes / From a perspective of the resource-based view, this paper analyses the inter-connection between technology adoption and creation in affiliates of multinational enterprises (MNEs) in an emerging economy. Operating below the international technological frontier, multinational affiliates are more motivated to adopt technologies already existent from their MNEs than create new technologies, as the former already gives them competitive advantages over local firms. When technology creation is required, multinational affiliates will adopt further technology-based resources from their MNEs as they are unavailable in an emerging economy. As a result, technology adoption is a necessary but not sufficient condition for multinational affiliates to conduct technology creation. Given that networks are particularly important for working around institutional voids in the context of an emerging economy, this paper also investigates the different roles of R&D support from internal and external networks of multinational affiliates in technology adoption and creation. Hypotheses are tested and partially supported based on unique data from 465 multinational affiliates in China.

yes / Circular Economy (CE) and the adoption of its principles globally are more important than ever to sustain the rate of production of goods and services to meet the ever-increasing consumer demand that is burdening the environment and society. This study investigates the adoption of CE principles amongst emerging economies as the challenges faced by these economies are generally different in terms of resource availability, varying government policies and consumer behaviour from those of developed economies. This research presents an empirically validated CE adoption model using a sample of 183 consumer responses. The study highlights the strong influence of factors such as consumer behaviour on the acceptance of remanufactured products and using products as a service to encourage the adoption of CE practices in emerging economies. This research offers businesses, consumers and policy makers insights into measures that have been taken by emerging economies that are in line with CE principles.

This thesis investigated money supply behaviors in the ‘BRICS’ group from 1982 to 2012. It empirically analyzed causality relationships between related monetary indicators by using quarterly data and time series econometric methods. In four countries: Brazil, China, Russia (the period of 2004-2012) and South Africa (1982-1993), this study found money supply endogeneity evidence (bank loans cause the money supply, or there is bidirectional between these two). Other countries, India and the 1982-2003 period of Russia, money supply was found to be exogenous, i.e. money supply cause bank loans. Nonetheless, traditional Monetarian view still holds across the five economies in the short run. The findings reflected discretionary monetary policies targeting monetary aggregates in the short term, despite a neutral role of most central banks in the long run.

Cette thèse s'efforce de comprendre l'impact de multiples orientations stratégiques sur la performance de l'entreprise micro-familiale dans un contexte d’économie en développement, en trois phases distinctes. Tout d'abord, nous avons posé la question de savoir si les micro-entrepreneurs familiaux améliorent leur performance en développant simultanément des activités axées sur l'entrepreneuriat et sur le marché. Nous avons également étudié si ces orientations stratégiques complémentaires sur la performance sont favorisées par le capital social, sous forme de liens commerciaux et sociaux. En outre, nous avons soulevé une question sur l’effet de l’intervention de la famille sur la performance dans le contexte de multiples orientations stratégiques. L'étude initiale a fourni un thème de recherche fécond sur l'entreprise familiale dans un environnement institutionnel. Nous avons montré que les micro-entreprises familiales optimisent leurs performances commerciales en investissant dans des niveaux plus élevés d'orientation entrepreneuriale et commerciale. En outre, le processus de socialisation avec l’environnement commercial augmente la performance grâce aux effets combinés des orientations entrepreneuriale et de marché dans un contexte d’économies émergentes. Contrairement à ce que l’on pourrait penser, l'étude a révélé que la performance des entreprises augmente lorsque les deux orientations sont élevées, mais seulement lorsque l'engagement familial est faible. Ce résultat a permis d'améliorer la connaissance que l’on a de l'influence de la famille sur l'élaboration de comportements stratégiques pour atteindre une meilleure performance. L'étude subséquente, examine et révèle le côté sombre et lumineux de la famille en relation avec des stratégies d'orientation entrepreneuriale et de marché et son impact sur la performance. L'étude quantitative finale contredit la recherche antérieure révélant l'importance des capacités familiales dans le soutien des comportements à risque pour accroître la richesse familiale dans un contexte émergent. / This dissertation endeavors to understand the impact of multiple strategic orientations on the performance of the micro family business in developing economy settings in three distinct phases. First, we raised a question whether family micro-entrepreneurs gain performance benefits by developing simultaneously high levels of entrepreneurial-oriented and market-oriented activities. We also investigated whether these complementary strategic orientations on performance are rewarded by cultivating high levels of firm social capital in the form of business and social network ties. In addition, we raised a question how family fits together in the context of multiple strategic orientations to achieve superior performance. The initial study, therefore, yielded a rich research theme related to family business in the context of institutionally constrained environment. We have shown that micro family businesses do maximize their business performance by investing on higher levels of entrepreneurial and market orientation. Furthermore, firm socialization process with their external business entities increase the performance benefits by combined effects of entrepreneurial and market orientations in an emerging market setting. Contrary to conventional wisdom, the study revealed that business profitability increases when both orientations are high but only when family involvement is low. This result yielded important insights into the role of family influence in shaping firm strategic behaviors to achieve better performance. The subsequent study, therefore, reviews and revealed the dark and bright side of the family in combination with entrepreneurial and market orientation behaviors and its consequent impact on performance. The final quantitative study contradicts previous research finding revealing the importance of family-based capabilities in supporting risk-taking behaviors to increase family wealth in an emerging market setting.

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Yes / Procurement digitalisation can provide significant opportunities for excellence in remanufacturing operations. The close attention of firms is required during the configuration of procurement 4.0 resources for applying front end and base technologies in order to develop the correct set of these resources. Based on Resource Based View theory, this research examines the role of resources influencing procurement 4.0 for driving productivity in remanufacturing operations and circular economy performance. The survey data for this research was gathered from working professionals in South Africa and results reveal that technological resources are necessary in procurement 4.0, which can in turn improve the productivity in remanufacturing operations. An upsurge in performance in remanufacturing operations can enhance the circular economy outcome. To the best of authors’ knowledge, this study is the first to provide insight for researchers, practitioners and academics with an empirical test of digital procurement on remanufacturing operations and of circular economy performance in an emerging economy like South Africa.

This study investigates the moderating role of the agency conflict between controlling and minority shareholders on the investment-risk relationship. When the ownership-control structure is concentrated, the agency theory indicates that the separation between cash-flow rights and voting rights induces the controlling shareholder to extract private benefits. To assess the effect of ownership-control divergence on the investment-risk relation, we use system generalized method of moments estimator (SYS-GMM) in longitudinal data from 412 Brazilian firms between 1997 and 2010. Our results show that investment is less sensitive to idiosyncratic risk for companies in which the largest shareholder presents high levels of ownership-control divergence. The impact of excess voting rights on the investment-risk sensitivity holds after we group firms according to distinct corporate governance and financial characteristics, such as financial constraints, family control, board independence, and the type of control-enhancing mechanism. Board independence does not affect controlling shareholders\' behavior toward risky investments. Among the control-enhancing mechanisms, the issuance of dual class shares is the main driver of the lower investment sensitivity to idiosyncratic risk. Our findings are consistent with entrenchment effects in the sense that dominant shareholders may select riskier projects when investing other people\'s money, which have both managerial and policy implications. / Este estudo investiga o papel moderador do conflito de agência entre acionistas controladores e minoritários no relacionamento investimento-risco. Quando a estrutura de propriedade e controle é concentrada, a teoria da agência indica que a separação entre direitos de fluxo de caixa e direitos de voto induz o acionista controlador a extrair benefícios privados. Para avaliar o efeito da divergência propriedade-controle na relação investimento-risco, utilizamos o estimador de método dos momentos generalizado sistêmico (MMG-SIS) em dados longitudinais de 412 empresas brasileiras entre 1997 e 2010. Nossos resultados mostram que o investimento é menos sensível ao risco idiossincrático para empresas em que o maior acionista apresenta altos níveis de divergência propriedade-controle. O impacto dos direitos de voto em excesso na sensibilidade investimento-risco mantém-se após agruparmos as empresas de acordo com características de governança corporativa e financeiras, tais como restrições financeiras, controle familiar, independência do conselho e o tipo de mecanismo para aumento do controle. A independência do conselho não afeta o comportamento dos acionistas controladores em relação a investimentos arriscados. Entre os mecanismos para aumento do controle, a emissão de duas classes de ações é a principal direcionadora da menor sensibilidade do investimento ao risco idiossincrático. Nossas descobertas são consistentes com os efeitos de entrincheiramento no sentido de que os acionistas dominantes podem selecionar projetos mais arriscados ao investirem o dinheiro de outras pessoas, o que tem implicações gerenciais e políticas.