nep-hme New Economics Papers
on Heterodox Microeconomics
Issue of 2024‒02‒19
twenty papers chosen by
Carlo D’Ippoliti, Università degli Studi di Roma “La Sapienza”

  1. Corporate Financialization: A Conceptual Clarification and Critical Review of the Literature By Joel Rabinovich; Niall Reddy
  2. A Dynamic Agent Based Model of the Real Economy with Monopolistic Competition, Perfect Product Differentiation, Heterogeneous Agents, Increasing Returns to Scale and Trade in Disequilibrium By Subhamon Supantha; Naresh Kumar Sharma
  3. El irrealismo en la Economía estándar: el supuesto de los rendimientos decrecientes de escala, como caso paradigmático. By Vergés-Jaime, Joaquim
  4. Integrating industrial transformation and sustainability transitions research through a multi-sectoral perspective By Allan Dahl Andersen; Tuukka Mäkitie; Markus Steen; Iris Wanzenböck
  5. The “institutional embeddedness” of prices and valuation in early modern Europe By Michela Barbot
  6. Non-orthodox Economic Approaches to Labor Unions and Union Leadership By Drakopoulos, Stavros A.
  7. Bagehot's Classical Money View: A Reconstruction By Perry Mehrling
  9. The Public Policy Impact of Economics By Heidi Hartmann
  10. The impact of cultural characteristics of coutries on the consequences of the financial crisis of 2008-2009 By Komarov Artemiy; Mirzoyan Ashot
  11. State-Society Relations and Sustainable Industrial Growth: The Case of Post-Revolution Tunisia By Mohamed Ismail Sabry
  12. Preface to the Japanese Edition of Golden Rule By Thomas Ferguson
  13. Grassroots Innovation Actors: Their Role and Positioning in Economic Ecosystems -- A Comparative Study Through Complex Network Analysis By Marcelo S. Tedesco; Francisco Javier Ramos Soria
  14. Objective Performance Evaluation of The Islamic Banking Services Industry: Evidence from Pakistan By Hanif, Muhammad; Farooqi, M Nauman
  15. Modeling the economywide effects of water and energy interventions in the face of climate change By Aragie, Emerta; Gebretsadik, Yohannes
  16. Re-examining contemporary capitalism: towards a political economy of ecology By Louison Cahen-Fourot; Gaël Plumecocq; Franck-Dominique Vivien
  17. A Statistical Field Perspective on Capital Allocation and Accumulation: Individual dynamics By Pierre Gosselin; A\"ileen Lotz
  18. Dairy farming, cooperatives and livelihoods: lessons learned from six indian villages By Cédric Gaillard; Marie Dervillé
  19. Unsilencing silence on business school sexism : A behind-the-scenes narration on regaining voice By Mar Pérezts; Emmanouela Mandalaki
  20. Evolution of Business Physiology in the Wine Industry: Insights From the Stra.Tech.Man Scorecard in the Cephalonian Robola Sector By Chatzinikolaou, Dimos; Vlados, Charis

  1. By: Joel Rabinovich; Niall Reddy
    Abstract: Corporate financialization (CF) comprises a major subfield of financialization studies centered on the belief that significant changes in corporate governance and business models have been driven by financial imperatives, profoundly impacting investment habits, labor policies, organizational practices, and the distribution of revenues. Experiencing explosive growth in recent years, the field has become mired in conceptual ambiguity, mirroring problems with financialization studies as a whole. While seeking to restore some conceptual clarity and clearly delineate the boundaries of the concept, this paper attempts a comprehensive review of empirical work on CF. At the core of the field we identify four sub-fields, each addressing distinct aspects of the way business models have become financialized under the influence of shareholder value principles. Our dissection of the literature shows, however, that these theories mostly remain under substantiated. The connection of financialization strategies to key outcomes of interest, like declining investment and rising inequality, remains nebulous in most cases. Beyond this, we identify key weaknesses in the way shareholder value orientation - the causal lynch pin of CF accounts - has been theorized. The field as a whole has paid insufficient attention to the variegated and uneven nature of the shareholder revolution, which has prevented a single uniform set of governance principles from diffusing. The critique concludes with a call for caution and nuance in employing the corporate financialization framework, emphasizing its role as just one part of a multifaceted transformation within capitalism. Alongside it, other pivotal structural forces, such as intangibilization, monopolization, and globalization, demand equal attention. The overarching aim of this review is to urge greater clarity, conceptual discipline, and a holistic perspective in future investigations into the dynamics of financialized capitalism.
    Keywords: financialization, corporate governance, firm strategy, short-termism
    JEL: L20
    Date: 2024–02
  2. By: Subhamon Supantha; Naresh Kumar Sharma
    Abstract: We have used agent-based modeling as our numerical method to artificially simulate a dynamic real economy where agents are rational maximizers of an objective function of Cobb-Douglas type. The economy is characterised by heterogeneous agents, acting out of local or imperfect information, monopolistic competition, perfect product differentiation, allowance for increasing returns to scale technology and trade in disequilibrium. An algorithm for economic activity in each period is devised and a general purpose open source agent-based model is developed which allows for counterfactual inquiries, testing out treatments, analysing causality of various economic processes, outcomes and studying emergent properties. 10, 000 simulations, with 10 firms and 80 consumers are run with varying parameters and the results show that from only a few initial conditions the economy reaches equilibrium while in most of the other cases it remains in perpetual disequilibrium. It also shows that from a few initial conditions the economy reaches a disaster where all the consumer wealth falls to zero or only a single producer remains. Furthermore, from some initial conditions, an ideal economy with high wage rate, high consumer utility and no unemployment is also reached. It was also observed that starting from an equal endowment of wealth in consumers and in producers, inequality emerged in the economy. In majority of the cases most of the firms(6-7) shut down because they were not profitable enough and only a few firms remained. Our results highlight that all these varying outcomes are possible for a decentralized market economy with rational optimizing agents.
    Date: 2024–01
  3. By: Vergés-Jaime, Joaquim
    Abstract: En la economía académicamente dominante el paradigma del equilibrio general de mercados competitivos (EG) juega un papel fundamental. Aunque los manuales y textos de referencia dediquen páginas a hablar de, por ejemplo, el equilibrio en el duopolio, el marco de referencia es en el fondo el del paradigma del EG. Éste se basa fundamentalmente en la teoría neoclásica de la producción: teoría de la empresa y los costes, y de los mercados resultantes; además de en otros constructos (homo economicus, información perfecta, etc.). Y a su vez, la teoría neoclásica de la producción se sustenta en el axioma de los rendimientos decrecientes de escala en la producción de cualquier bien. En el presente artículo se expone un análisis de dicho axioma y de los supuestos, generalmente implícitos, en los que se basa; y, como tema central, se pone de manifiesto que las abrumadoras evidencias empíricas que ofrece la observación de nuestras economías de mercado no sustentan en absoluto dicho axioma y supuestos. Ni por tanto el modelo explicativo del EG, ni las implicaciones normativas de tal paradigma. ENGLISH ABSTRACT: In academic mainstream economics, the paradigm of the general equilibrium of competitive markets (GE) plays a fundamental role. Although textbooks and reference texts devote pages to talk about, for example, duopoly’s equilibrium, the frame of reference is basically that of the GE paradigm; which is based fundamentally on the neoclassical theory of production: a theory of the firm and its costs, prices determination, and of the resulting markets, as well as on other constructs (homo economicus, perfect information, etc.). And, in turn, this neoclassical theory of production relies on the axiom of the decreasing returns to scale in the production of any product or service. This paper presents an analysis of such axiom and of the assumptions, usually implicit, on which they rely; and, as a central topic, it shows that the overwhelming empirical evidence offered by the observation of our market economies does not support this axiom and deductive assumptions at all. Neither therefore the GE’s explanatory model, nor the normative implications of such a paradigm.
    Keywords: Mainstream Economics and empirical testing; Assumptions and axioms in Economics; Socio-political implications of Economics; The traditional assumption of ‘decreasing returns to scale’.
    JEL: A10 D01 D21 D22 D40
    Date: 2023
  4. By: Allan Dahl Andersen (Centre for Technology, Innovation and Culture (TIK), University of Oslo, Norway. Department of Food and Resource Economics, University of Copenhagen, Denmark); Tuukka Mäkitie (Centre for Technology, Innovation and Culture (TIK), University of Oslo, Norway. Department of Technology Management, SINTEF Digital, Norway.); Markus Steen (Department of Technology Management, SINTEF Digital, Norway.); Iris Wanzenböck (Copernicus Institute of Sustainable Development, Utrecht University, The Netherlands)
    Abstract: Transition studies is a rapidly growing field within innovation studies. It aims to account for system transitions especially in relation to sustainability challenges. The field has however paid limited attention to the economic structural change associated with transitions. This suggests that despite common origins via the concept of technological regimes, evolutionary economics and transition studies have seen limited mutual engagement and cross-fertilization. Since the extension of technological regimes to sociotechnical regimes with the articulation of the multilevel perspective, the transitions field has focused more on institutional and end-user aspects of transitions (e.g. culture, practices, regulations) than the supply-side of regimes. In this paper we attempt to recalibrate the balance between supply- and demand-side analyses by articulating a novel multi-sectoral perspective on transitions which provides a systematic view on the interplay between industrial transformation and system transitions.
    Date: 2024–02
  5. By: Michela Barbot (IDHES - Institutions et Dynamiques Historiques de l'Économie et de la Société - UP1 - Université Paris 1 Panthéon-Sorbonne - UP8 - Université Paris 8 Vincennes-Saint-Denis - UPN - Université Paris Nanterre - UEVE - Université d'Évry-Val-d'Essonne - CNRS - Centre National de la Recherche Scientifique - ENS Paris Saclay - Ecole Normale Supérieure Paris-Saclay)
    Abstract: How was the correlation between prices and value understood before the birth of economic science? And what were the institutional and material foundations of valuation procedures? The field of civil law offers an interesting perspective to explore these questions as it allows to analyse the plurality of means by which the preindustrial societies coped with a common challenge: reducing the risk of price conflicts in order to ensure the enforcement of contractual commitments.
    Abstract: Comment la dialectique entre les prix et la valeur des biens était-elle appréhendée avant d'entrer dans le giron de la science économique ? Et quels étaient les fondements institutionnels et matériels des opérations d'estimation ? La sphère du droit civil offre un angle intéressant pour répondre à ces questions puisqu'elle permet d'observer la pluralité des solutions que les sociétés d'Ancien Régime ont apportées à un même défi : celui de réduire le risque de conflits sur les prix afin de garantir le respect des accords contractuels.
    Keywords: Price, values, institutions, law, contracts
    Date: 2023
  6. By: Drakopoulos, Stavros A.
    Abstract: This short paper is the entry on Encyclopedia of Diversity, Equity, Inclusion and Spirituality (edited by Marques, J.). Springer, Cham, 2024. The entry describes the role, function, and nature of labor unions and their leadership from a non-orthodox perspective. It shows that since the end of the 19th century, a division between orthodox and non-orthodox approaches toward the study of labor unions can be discerned. The orthodox framework was formed in the late 19th century with the gradual establishment of Marginalism, and it consolidated itself with the dominance of early neoclassical economics. Orthodox economic theory did not devote much attention to the economic analysis of unions. On the contrary and during the same period, non-orthodox economists such as Sidney and Beatrice Webb and early institutionalists, had paid considerable attention to the study of unions, perceiving them as politico-economic organizations and emphasizing their wider role as social institutions. The legacy of those two approaches continued in the 20th century and contemporary analyses of labor unions. The orthodox approach (originating mainly from the work of John Dunlop), generally conceives unions as purely economic units, analogous to firms, which can be studied by applying the standard tools of microeconomic theory. In this framework, the notion of union leadership plays a minimum role. In contrast, the non-orthodox viewpoint (originating mainly from Arthur Ross’ works), embraces a holistic, institutional-political-based attitude to the study of labor unionism.
    Keywords: Trade Unions; Labor Union Leadership, Gender inequality
    JEL: J51 J70 M50
    Date: 2024–01
  7. By: Perry Mehrling (Pardee School of Global Studies at Boston University)
    Abstract: Bagehot is difficult for modern economists to read with understanding, for three reasons. He was a classical economist not neoclassical, his orientation was global not national, and, most importantly, his intellectual formation was as a practicing country banker not an academic. This paper adopts all three perspectives, and uses this frame to reinterpret his mature work, both Lombard Street and the unfinished Economic Studies, as the origin of the key currency tradition which continues as a minority view in modern economics.
    Keywords: Bagehot Rule, key currency, money view, Lombard Street, Ricardo
    JEL: B12 B17 B31
    Date: 2024–01–04
  8. By: Maria A. Maricheva (National Research University Higher School of Economics); Vadim A. Petrovsky (National Research University Higher School of Economics)
    Abstract: This work is devoted to the subjective value of money as a condition for the free choice of a person in the market for goods and services. Starting from the understanding of money as the universal equivalent of value, this paper emphasises the idea that money not only expresses (“measures”) value, but also represents a materialised possibility of having free choice of any commodity for a given value. It is assumed that the unfettered and multivariable nature of possible exchanges inherent in money has a special value for its holder. Thus, the hypothesis is formulated that money, as an embodiment of freedom of choice, symbolises something more than just the value of goods that can be purchased with that money. We refer to the hypothetical difference between the subjective value of money and the average price of goods that can be purchased with it as the "surplus value of money ( -«Delta»)". This phenomenon is experimentally fixed on the basis of the “Money - Commodity - Delta” methodology jointly developed by the authors. As such, in this work, the value of money as an instrument of free choice has been measured for the first time. Four groups of respondents were also identified according to their resolution of the "commodity or money" dilemma. The analysis of possible determinants of the surplus value of money may become a topic for further research.
    Keywords: money, psychological characteristics of money, freedom of choice
    JEL: Z
    Date: 2024
  9. By: Heidi Hartmann
    Abstract: Heidi Hartmann, founder of the Institute for Women’s Policy Research, talks about the concept of “comparable worth” and what attracted her to the field of economics.
    Keywords: women in economics; public policy
    Date: 2024–01–23
  10. By: Komarov Artemiy (Department of Economics, Lomonosov Moscow State University); Mirzoyan Ashot (Department of Economics, Lomonosov Moscow State University)
    Abstract: The paper examines the impact of cultural characteristics of countries on the consequences of the global financial crisis of 2008-2009.The analysis revealed, What countries, in which decisions were made quickly and smoothly, fell less than the others.., This influence was maintained in the analysis of cultural transmission mechanisms, with the addition of which there was significance in other cultural characteristics: for example, levels of individualism and autonomy negatively affected the economy during the recession, and the distance of power and the hierarchy of society led to milder consequences. When dividing countries into groups by cultural characteristics, it turned out, that countries with similar values suffered comparable damage in 2009. In addition, the dynamics of economic development in the pre-crisis period was important: collectivist countries emerged from the crisis less painfully, As opposed to individualistic.
    Keywords: socio-cultural economy, informal institutions, transfer mechanisms, great recession, financial crisis
    JEL: C51 E02 O43 Z13
    Date: 2024–01
  11. By: Mohamed Ismail Sabry (Erasmus University Rotterdam)
    Abstract: This paper investigates the effect of state-society relations (SSRs) in the industrial sector on sustainable economic growth in post-revolution Tunisia. The empirical part of the paper mainly relies on qualitative data collected from fieldwork interviews with the most important actors and publications of civil society organizations (CSOs). The paper suggests the presence of state capture as the defining characteristic of SSRs in post-revolution Tunisia. The combination of having powerful tycoons, a weaker state, and ineffectively organized social actors produced conditions that harmed sustainability. These circumstances allowed tycoons to violate environmental regulations and prevented the adoption of green innovation and green technologies. Two important industrial sectors with a notorious record of environmental pollution are studied: the textiles sector and the phosphate extraction industry. In the textiles sector, the comparative power of tycoons and multinational corporations (MNCs) allowed them to neglect regulations against health and safety hazards (HSH). The low value-added of the industry placed tycoons under low pressure to use more environmentally friendly technologies. The relatively lower commitment of international developmental organizations toward environmental hazards reduced the power of environmental CSOs’ resistance in the sector. The more labor-saving nature of suggested green technologies could have resulted in less enthusiasm toward these technologies. The prominence of a less dominant and incapable state in the phosphate extraction industry has, on the other hand, enabled environmental CSOs to be more effective in facing environmental violations. The lack of trust and different ranking of priorities between the UGTT and some environmental CSOs prevented the realization of a more productive outcome that would have led to more sustainable operations in the sector
    Date: 2023–12–20
  12. By: Thomas Ferguson (Institute for New Economic Thinking)
    Abstract: This is the English version of the author's preface to the Japanese translation of Golden Rule: The Investment Theory of Party Competition and the Logic of Money-Driven Political Systems (Chicago: University of Chicago Press, 1995). The Japanese version is published in two volumes by Keiei Kagaku Publishing and this preface appears with its permission. The paper discusses some of the problems the author's early work in archives highlighted with conventional approaches to understanding political power. It also locates the book's argument in relation to earlier studies of industrial structures and politics and surveys some of the most important later results of quantitative research within the book's framework.
    Keywords: median voter, New Deal, political money, elections, industrial structure.
    JEL: D72 H10 H4 P16 L50 M14 N82
    Date: 2023–08–08
  13. By: Marcelo S. Tedesco; Francisco Javier Ramos Soria
    Abstract: This study offers an examination of grassroots innovation actors and their integration within larger economic ecosystems. Through a comparative analysis in Oaxaca, Mexico; La Plata, Argentina; and Araucania, Chile, this research sheds light on the vital role that grassroots innovation plays in broader economic ecosystems. Using Complex Network Analysis and the TE-SER model, the study unveils how these actors interact, collaborate, and influence major economic ecosystems in the context of complex social challenges. The findings highlight that actors from the grassroots innovation ecosystem make up a significant portion of the larger innovation-driven entrepreneurial economic ecosystem, accounting for between 20% and 30% in all three cases and are strategically positioned within the ecosystem's structural network. Additionally, this study emphasizes the potential for greater integration of grassroots innovation actors to leverage resources and foster socio-economic development. The research concludes by advocating for further studies in similar socio-economic contexts to enhance our understanding of integration dynamics and mutual benefits between grassroots innovation ecosystems and other larger economic systems.
    Date: 2023–12
  14. By: Hanif, Muhammad; Farooqi, M Nauman
    Abstract: Purpose — The study documents the performance of the Islamic banking services industry (IBSI) in light of the Islamic finance objectives, notably financial stability, equitable distribution of wealth, and social responsibility. Design/Methodology/Approach — After drawing the performance evaluation framework based on the objectives, the research conducts a balance sheet analysis of the IBSI in Pakistan for 32 quarters (2013Q4–2021Q3). The analysis examines sources and uses of funds by looking at the application of financial contracts and sectoral distribution of financing. Objectively classified data trends are reported through graphs. Findings — Findings suggest that the domestic IBSI has shown progress in achieving primary and intermediate objectives, including commercial performance, contribution to equitable wealth distribution, and financial stability. However, the industry’s in-practice business models lack any significant contribution to the social sector, which represents a more advanced objective. Originality/Value — The contributions to the literature include development of a performance evaluation framework based on Islamic finance objectives, and documentation of findings on the IBSI’s achievements in Pakistan. Research Implications — The study recommends that regulators develop a legal framework for business models of the IBSI. It also recommends that managers of domestic Islamic banks include the social sector as well as agricultural and rural areas in financing and investment portfolios.
    Date: 2023–04–03
  15. By: Aragie, Emerta; Gebretsadik, Yohannes
    Abstract: The Ethiopian economy relies predominantly on rainfed agriculture for income generation, export earnings, and rural livelihoods. However, the frequency and intensity of extreme ago-climatic events projected by climate scenarios suggest considerable and growing risks from climate change to the country’s agri-food systems and the overall economy. This study assesses the economic impacts of recurrent climate shocks on the Ethiopian economy to 2040. The results indicate that recurrent climate shocks will lead to a reduction in Ethiopia's cumulative GDP from 2020 to 2040 compared to a “no climate change†baseline. Specifically, extreme weather events could cumulatively cost Ethiopia up to 17 percent (or US$ 534.3 billion) in GDP between 2020 and 2040 compared to a no-climate change baseline. The weight of the economic loss is concentrated in the agricultural production sector, with rural households and poorer households in urban areas being worst affected. Strategic investments in irrigation infrastructure and in hydroelectricity generation are found to be effective in mitigating some of the damage caused by recurrent climate variability.
    Keywords: rainfed farming; agriculture; income; exports; livelihoods; rural population; climate change; agrifood systems; extreme weather events; water; energy; computable general equilibrium models; ETHIOPIA; EAST AFRICA; AFRICA SOUTH OF SAHARA; AFRICA
    Date: 2023
  16. By: Louison Cahen-Fourot (Institut de sciences sociales et de commerce, Université de Roskilde); Gaël Plumecocq (AGIR - AGroécologie, Innovations, teRritoires - Toulouse INP - Institut National Polytechnique (Toulouse) - UT - Université de Toulouse - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement); Franck-Dominique Vivien (REGARDS - Recherches en Économie Gestion AgroRessources Durabilité Santé- EA 6292 - URCA - Université de Reims Champagne-Ardenne - MSH-URCA - Maison des Sciences Humaines de Champagne-Ardenne - URCA - Université de Reims Champagne-Ardenne)
    Date: 2023–12–22
  17. By: Pierre Gosselin (IF); A\"ileen Lotz
    Abstract: We have shown, in a series of articles, that a classical description of a large number of economic agents can be replaced by a statistical fields formalism. To better understand the accumulation and allocation of capital among different sectors, the present paper applies this statistical fields description to a large number of heterogeneous agents divided into two groups. The first group is composed of a large number of firms in different sectors that collectively own the entire physical capital. The second group, investors, holds the entire financial capital and allocates it between firms across sectors according to investment preferences, expected returns, and stock prices variations on financial markets. In return, firms pay dividends to their investors. Financial capital is thus a function of dividends and stock valuations, whereas physical capital is a function of the total capital allocated by the financial sector. Whereas our previous work focused on the background fields that describe potential long-term equilibria, here we compute the transition functions of individual agents and study their probabilistic dynamics in the background field, as a function of their initial state. We show that capital accumulation depends on various factors. The probability associated with each firm's trajectories is the result of several contradictory effects: the firm tends to shift towards sectors with the greatest long-term return, but must take into account the impact of its shift on its attractiveness for investors throughout its trajectory. Since this trajectory depends largely on the average capital of transition sectors, a firm's attractiveness during its relocation depends on the relative level of capital in those sectors. Thus, an under-capitalized firm reaching a high-capital sector will experience a loss of attractiveness, and subsequently, in investors. Moreover, the firm must also consider the effects of competition in the intermediate sectors. An under-capitalized firm will tend to be ousted out towards sectors with lower average capital, while an over-capitalized firm will tend to shift towards higher averagecapital sectors. For investors, capital allocation depends on their short and long-term returns. These returns are not independent: in the short-term, returns are composed of both the firm's dividends and the increase in its stock prices. In the long-term, returns are based on the firm's growth expectations, but also, indirectly, on expectations of higher stock prices. Investors' capital allocation directly depends on the volatility of stock prices and {\ldots}rms'dividends. Investors will tend to reallocate their capital to maximize their short and long-term returns. The higher their level of capital, the stronger the reallocation will be.
    Date: 2023–11
  18. By: Cédric Gaillard (UMR MoISA - Montpellier Interdisciplinary center on Sustainable Agri-food systems (Social and nutritional sciences) - Cirad - Centre de Coopération Internationale en Recherche Agronomique pour le Développement - IRD - Institut de Recherche pour le Développement - CIHEAM-IAMM - Centre International de Hautes Etudes Agronomiques Méditerranéennes - Institut Agronomique Méditerranéen de Montpellier - CIHEAM - Centre International de Hautes Études Agronomiques Méditerranéennes - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement - Institut Agro Montpellier - Institut Agro - Institut national d'enseignement supérieur pour l'agriculture, l'alimentation et l'environnement, Cirad-ES - Département Environnements et Sociétés - Cirad - Centre de Coopération Internationale en Recherche Agronomique pour le Développement); Marie Dervillé (LEREPS - Laboratoire d'Etude et de Recherche sur l'Economie, les Politiques et les Systèmes Sociaux - UT Capitole - Université Toulouse Capitole - UT - Université de Toulouse - UT2J - Université Toulouse - Jean Jaurès - UT - Université de Toulouse - Institut d'Études Politiques [IEP] - Toulouse - ENSFEA - École Nationale Supérieure de Formation de l'Enseignement Agricole de Toulouse-Auzeville)
    Abstract: India's dairy sector has emerged as the world's largest dairy producer and has enabled 70 million farmers to generate income through its rapid growth. This success is linked to broad national policy support through the Operation Flood program and the emergence of an inclusive model of cooperatives. However, the informal sector is still the marketing channel most used by dairy producers, and with the liberalization of the dairy sector, the cooperative model is also facing competition from the private sector. By surveying 244 dairy farmers in two major but heterogeneous states in India, this paper examines the inclusiveness of the sector and the impact of dairy cooperative membership on farmers' income and livelihood. The originality of the paper concerns its systematic perspective on households' assets and activities. The results indicate that cooperative membership is associated with caste membership and farmers collection centers. Better incomes are associated with membership, particularly among farmers with less land and among smallholders, who are more dependent on their dairy income to lift themselves out of poverty.
    Keywords: Indian dairy sector, Cooperative, Smallholders, Livelihoods, Poverty reduction
    Date: 2022–02
  19. By: Mar Pérezts (EM - emlyon business school); Emmanouela Mandalaki (NEOMA - Neoma Business School)
    Abstract: "Unsilencing sexism-related silence is not a new need, particularly in academic institutions heavily imbued with patriarchy, where sexist events are often ignored or denigrated. In this paper, we draw on a sexist cyberbullying attack unleashed against part of our academic work to extend a critique to the silence culture surrounding business school sexism. Through an embodied discussion of the various faces and phases of silence, silencing, and unsilencing that we experienced following this sexist event, we show the behind-the-scenes relational process that led us from silence to activism in regaining our voices and speaking out against academic sexism. We discuss the emancipating potential of feminist "wor(l)ds, " relationality, and communal support in unsilencing sexism-related silence and articulate possible ways of unsilencing silence at the individual, community, and institutional levels."
    Keywords: business school sexism, cyberbullying, silence, unsilencing, writing differently
    Date: 2023–01–29
  20. By: Chatzinikolaou, Dimos (Democritus University of Thrace, Department of Economics); Vlados, Charis (Democritus University of Thrace, Department of Economics)
    Abstract: This study explores the physiological evolution of entrepreneurship in the Robola PDO wine sector in Cephalonia, Greece, utilizing the Stra.Tech.Man Scorecard as a diagnostic tool. Focusing on micro-firms producing and marketing the Robola PDO wine variety, the research provides insights into the executives’ self-assessments of their strategic, technological, and management adaptation efforts from 2017 to 2021. The findings indicate that these firms exhibit a strong strategic ambition to improve their competitiveness, but encounter obstacles in technology and networking operations, as well as limitations in developing their human resources and their overall management methodologies. Furthermore, the study reveals that the companies’ innovation potential was enhanced during the COVID-19 pandemic. The study highlights the potential for developing a sophisticated regional wine brand and underscores the role of innovative entrepreneurs and government support in fostering a competitive and sustainable entrepreneurial ecosystem.
    Keywords: Business physiology; Stra.Tech.Man Scorecard; Cephalonian Robola
    JEL: B52 L10 L66
    Date: 2023–12–27

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