In response to globalisation and internationalisation of both higher education and the job market, The Hague University of Applied Sciences (THUAS) has seen a considerable increase in English-medium courses, i.e. non-language subjects taught through English. Internationally, the rise of English-medium instruction (EMI) has led to research on, and discussion about the possible side-effects of a change in instructional language. More specifically, whether using a foreign language as the medium of instruction has a negative impact on teaching and learning. This paper reports the findings of a pilot research project into the implications of English-medium instruction (EMI) as perceived by students and teachers of the bachelor program Commercial Economics at the Faculty of Business, Finance and Administration at THUAS. Research methods used to collect data include face-to-face interviews with both students and lecturers involved in EMI subject courses, a student questionnaire, and lesson observations. Despite regular exposure to English and an adequate self-perceived English proficiency, results show that a considerable number of students, as well as teaching staff are experiencing difficulties with English-medium instruction and that for many EMI is not as efficient in transferring academic content as instruction in the mother tongue.
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Concerns about the negative consequences of the excessive underpricing of the current arrangement in the initial public offering (IPO) market for the provision of entrepreneurial finance—book building—have led to research into the viability of auctions for IPO pricing and allocation. IPO firms face a trade-off between the benefit of accurate and reliable IPO price discovery and the cost of underpricing. The main aim of this paper was to gain new scientific knowledge about this trade-off by measuring the impact of two key variables on this trade-off: capacity restraint and discount on the auction clearing price. Using controlled experiment methodology in multi-unit uniform price auctions we found that the most capacity-restricted auctions that also offer investors a discount are likely to produce the most accurate and reliable price discovery and consequently, the most predictable auction outcome. There are indications that a discount of 8% may suffice to incentivize investors to reliably contribute to price discovery. The resulting underpricing (and its variability) of these auctions is likely to be significantly lower than if book building would be used to price and allocate IPOs. Technological innovation in the IPO market through the application of recent advances in data science, experimental economics and artificial intelligence allows for the optimization of IPO mechanisms and crowdfunding platforms which in turn improves the access to equity required for entrepreneurial finance.
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The 21st century’s rapidly compounding crises – from climate and ecological breakdown to extreme social inequities of power and opportunity – make it irrefutably clear that the global economic system must be transformed if humanity and the rest of life on Earth are to thrive. Doughnut Economics provides an increasingly recognised compass for such a thriving future, and is focused on meeting the needs of all people within the means of the living planet, by creating economies that are regenerative and distributive by design. What are the implications for the role and transformation of business, if it is to be part of this future?This paper explores how the deep design of business – through a company’s Purpose, Networks, Governance, Ownership, and Finance – powerfully shapesits strategic decisions and operational impacts, and ultimately determines whether or not businesses can transform to become part of a regenerative and distributive future. By diving into five layers of deep design, this paper reveals both design blockages that prevent transformative action, and design innovations that can unlock its possibility. In addition, this paper recognises that industry-level and system-wide transformations are crucial for turning the inheritance of a degenerative and divisive economic system into the beginnings of a regenerative and distributive one.
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