This book explores fundamental socio-economic trends that are radically changing perspectives on the relationship between people and the world around them. Focusing on the principles of sustainability, circularity and inclusivity, it illustrates how these trends form the breeding ground for a new economy embodying a logic of collectiveness.Expert contributors highlight six specific global developments that are contributing to societal transition: digitalization, circularity, the bio-based economy, sharing, self-production, and the internet of things and services. They demonstrate how these trends question the foundations and social contracts underlying the current linear economy. They identify a new generation of business models based on key features including intra-organisational collaboration, transparency, and high-level coordination to ensure economic developments contribute to a fair society. Through an analysis of how these trends may develop going forward, they provide innovative recommendations for strategy and policy development alongside a conceptual toolbox for realising the economy of the future.Framing the Economy of the Future is an essential resource for students and scholars of economics, business and sustainable development. It is also an invaluable guide for professionals in public administration and strategic management.
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Sometimes people say that economics and (other) social sciences are not real sciences. It is argued that this vision is wrong. The scientific method is critical as to how problems should be organized in order to let it make sense. But the real (economic, social and educational) world does not always offer us features and challenges that can be measured and counted by the far developed scientific means. The more uncertainty, the more the need for knowledge, the easier the discrepancy between the studied phenomenon and the measured aspects thereof. It is concluded that education and creativity are needed, even more than ever before!
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This research conducts a meticulous examination of the determinants influencing dividend payout dynamics among firms listed on the Korean Stock Exchange (KSE) from 1995 to 2021, a period characterized by profound economic fluctuations. By leveraging a dynamic panel data model and the Generalized Method of Moments (GMM) for estimation, the study addresses endogeneity concerns while exploring the effects of firm-specific and macroeconomic variables on dividend yields. The investigation delineates three distinct economic phases: normal conditions, financial crises, and the aggregate study period, facilitating a granular understanding of firms’ dividend payout adaptability under varying economic landscapes. Empirical findings underscore the persistence of dividend payments, revealing a variable adjustment speed toward target dividend yields contingent upon the economic context, with an expedited adjustment observed during crises. Crucially, firm profitability emerges as a consistent determinant of dividend yields across all examined periods, whereas the influence of macroeconomic variables is notably more pronounced during periods of economic normalcy. This research elucidates the complex interplay between internal corporate strategies and external economic pressures in shaping dividend policies, thereby enriching the discourse on dividend payout behavior in the context of Korea’s economic evolution from an emerging to a developed market.
