Capital Exchange Research Articles

Power, youth, and temporality: capitalising on the symbolic in resourcing social entrepreneurship

PurposeUsing elements of Bourdieu’s (1986) capitals framework as an underpinning conceptual architecture, this paper theorises the role of symbolic capital in resourcing a specific example of socially entrepreneurial behaviour.Design/methodology/approachThis paper relies on data collected via a qualitative variant of the critical incident technique.FindingsThe analysis resulted in three focal themes: power (a dynamic of cooperation rather than domination), age (youth as a means of legitimation) and temporality (as both lever and conduit).Research limitations/implicationsThese themes further current understanding of socially entrepreneurial behaviour and potentially catalyse additional questioning and investigation specific to the construct of symbolic capital in this context.Practical implicationsThe insights offered in the paper may assist those tasked with supporting success (policymakers and practitioners) in the social entrepreneurship domain.Originality/valueRelatively little is known about the operationalisation of capitals in the context of social entrepreneurship, and even less about symbolic capital specifically. Particular emphasis is given to moving beyond a focus on the simple mechanics of capital exchange and conversion.

Assessment of network structure characteristics and factors of corporate flows in Guangdong Province.

With the rapid development of the world city network, the traditional location theory has gradually been disproven, and the advantages of the flow space over the traditional vertical organizational structure are gradually being revealed. Therefore, from corporate branch networks and corporate investment networks, 21 cities in urban agglomerations of Guangdong are taken as case studies for this paper. Furthermore, in this paper, 5 representative types of corporate contact data (catering service, financial service, life service, sports and leisure and accommodation service) are selected, the social network analysis (SNA) method is used to quantitatively analyze the network structure characteristics of urban agglomerations, and a spatial interaction model is constructed to explore the factors influencing. The results indicate that secondary networks have developed in Guangdong. The financial service network is the most complex, followed by the life services, sports and leisure and catering networks. The accommodation service network structure is the simplest. Among all kinds of networks, Guangzhou and Shenzhen have the highest status. The catering and accommodation corporations in Yangjiang in the west have a relatively major external development. Shantou in the east has many branches of various types, while most of the capital exchange in the region is concentrated in Heyuan and Qingyuan in the north. The coefficients of geographical proximity and the urban development level play a significant role in promoting the development of networks. However, administrative capacity limits the attractiveness of origin cities to a certain extent.

Internal migration, stepping into the academic field, and talking to Pierre Bourdieu: a critical autoethnography

This critical autoethnography interprets my internal migration experience in China. Using Bourdieu’s capital, field and habitus toolkit, I investigated my cultural capital transformation and habitus formulation when being educated in secondary schools and universities after internal migration to the city. Taking my lived experience as an example, the article illustrates the challenges of disadvantaged social groups in cultural capital exchange and the challenges of developing and re-­assembling habitus influenced by the doxa in the education field. The study highlights that the reproduction of the cultural capital of rural-to-urban migrant students is restricted by the rule of the urban education field. The article also suggests further research on the educational experience of different sub-groups of students with internal migration backgrounds.

Smart collaborative ecosystem: leading complex school systems

PurposeThe need to innovate and apply alternative forms of school organization is evident as the COVID-19 pandemic has generated a need to establish new conceptualizations of schools and education management. The paradigm shift in learning inexorably necessitates a corresponding paradigm shift in educational organization, administration and management in order to build organizational resilience and capital. This study proposed framework seeks to address this issue by proposing a transformation of educational organization and management, shifting away from the unilateral, hierarchical school models and towards a unique, smart collaborative school ecosystem in which residents, industries, schools, universities and research centers can create new digital knowledge and inventive products, services and solutions by enlarging their capitals.Design/methodology/approachDrawing upon Bourdieu's theory of social capital, our theoretical contribution is to present the influence of three forms of capital (social, economic and cultural) in cultivating educational capacity and resilience in the school ecosystem, with a particular focus on the role of digital capital in reinforcing the school ecosystem capitals. The authors also argue that ecosystem leaders and principals as boundary spanners play an important role in promoting capital exchange and enlargement as they balance the permeability of organizational boundaries at times of crisis by maneuvering across fields.FindingsAchieving educational improvement and building organizational capacity and resilience through the enlargement of system (and subsystem) capitals requires that key actors develop synchronized interpretations of educational aims and functions in various contexts. The authors delineate the importance of developing a synchronization strategy in the proposed conceptualization of smart and resilient school ecosystems.Originality/valueBy integrating research from both non-educational and educational literature, the proposed framework provides a new perspective for educational administration, organization and management, shifting away from the unilateral, hierarchical school models toward a unique, smart collaborative school ecosystem in which members can create new knowledge by enlarging their capitals. Practical lessons for leaders and policymakers from our conceptual framework are proposed.

Оценка влияния маржинальных требований на ликвидность российского рынка фьючерсов

The implementation of a margin system in derivatives markets has a positive effect on market liquidity and market pricing efficiency. At the same time, portfolio diversification and hedging are not fully taken into account when assessing margin requirements. Therefore, in order to comply with regulatory requirements, the exchange sets excessive margins. IAs Charoula Daskalaki and George Skiadopoulos have shown, overestimation of margin requirements reduces the positive effect of the existence of a margin system. However, quantification of this observation has not been presented in studies before. This paper quantifies the dependence of market liquidity on the level of margin. The study is conducted on data from futures contracts for 19 underlying assets traded on the Moscow Exchange between 2014 and 2021, using an autoregressive moving average model with exogenous factors (ARMAX). The stability of the obtained results is determined by comparing different model specifications with different sliding window sizes. The analysis not only confirmed the fact that margin requirements, which protect the exchange's capital, reduce the positive effect of implementing a margin system but also allowed to evaluate it quantitatively: a 1% increase in margin requirements in relative terms reduces trading volume from 2.5 to 7% and the volume of open positions from 0.2 to 0.9%, depending on the type of position and trader. The impact on trading volume is on average stable over time, and there are local trends and tipping points for the volume of open positions.

Bourdieusian capital conversion during crises of socio-political legitimacy: Sponsorship of the arts by Barclays Bank, 1972 to 1987

This paper advances our understanding of how organisations engage in the process of Bourdieusian capital conversion during crises of socio-political legitimacy. We do so by analysing the arts sponsorship strategies of Barclays between 1972 and 1987. During this period, Barclays faced numerous challenges to its organisational legitimacy as a result of its continued dealings in apartheid South Africa and its ability to generate extraordinary profits despite general economic malaise in Britain. As a response, Barclays increased its sponsorship of the arts, exchanging its substantial economic capital for the symbolic capital associated with high-status arts institutions. We identify the forces that facilitated and inhibited these capital exchanges and how they affected Barclays’ sponsorship strategies. This paper will be of interest to Bourdieusian scholars interested in capital exchange, to business historians interested in banking in Britain during the 1970s and 1980s, and researchers interested in the evolution of corporate sponsorship and philanthropy.

Understanding the plural landscape of cybersecurity governance in Spain: a matter of capital exchange

This paper empirically explores the contribution and collaborative networks of public and private actors to cybersecurity provision in Spain. The article draws on data from three sources: policy and legal documents, a Delphi study with cybersecurity experts, and 34 interviews. Rooted in the theoretical underpinnings of nodal governance and anchored pluralism, the paper argues that the position of actors and public-private collaboration dynamics involved in cybersecurity governance can be understood through the analysis of capital exchange. Therefore, the study provides a list of the most relevant nodes for cybersecurity in Spain, assesses the capital they possess and how they exchange it through collaborative networks and explores the characteristics and barriers of these collaborative relationships. Analyses reveal that public organisations hold a preeminent position in cybersecurity governance despite large technology corporations’ greater economic and cultural capital. Remarkably, the paper identifies the central position of new public bodies in the network of cybersecurity nodes. Moreover, cultural barriers that are hindering public-private collaboration in Spain are identified. These results indicate that, despite the state’s difficulties in providing public solutions to cybersecurity challenges, Spain is an example of how governance can be anchored in public bodies through symbolic and social capital.

“I don’t care about the money”: A thematic analysis of parenting practices of youth sport

Abstract The purpose of this study was to investigate practices of raising up young athletes from a sociological perspective. In particular, I looked at how parents enacted their capitals within the contexts of youth sport as a social field. This qualitative study involved 6 participants who had experiences of parenting their children in youth sport for at least five years. Data were collected through in-depth interviews. Thematic analysis was employed to facilitate inductive analysis toward the construction of themes from the data. A computer assisted qualitative data analysis software (CAQDAS), namely ATLAS.ti 22, was utilized to help the researcher manage complex data set and achieve trustworthiness criteria. Three themes have been constructed through mainly inductive analysis. These were (1) the contextual practices of youth sport as social field, (2) economic, cultural and social capital at play in parenting practices of youth sport, and (3) capital exchange as practices within and beyond youth sport. The current study concludes that sociological thoughts on social field and capitals are advantageous to understand the social complexity of day-to-day parenting practices of youth sport. However, agenda for further studies would need to explore the field of youth sport utilizing other sociological frameworks.

Analysis of Trend and Pattern of Tourists’ Arrival: A Case Study of Desert Tourist Circuit, Rajasthan

Tourism is one of the fastest-growing industries in the world economy particularly in developing countries. It is an important tool for the development of destinations’ economies and provides various socio-cultural and economic benefits such as employment generation, foreign capital exchange, infrastructure development, investment of capital, preservation of heritage sites, etc. Rajasthan is one of the most popular tourist destinations on the world’s map due to its diverse socio-cultural landscape. The desert tourist circuit has immense potential for attracting a large number of domestic as well as foreign tourists. The main aim of this study is to examine the trend and pattern of tourist arrival in the desert tourist circuit. This study is based on the secondary data collected from the Rajasthan tourism development Corporation (RTDC), Jaipur. The annual growth rate and regression analysis have been calculated to achieve the study's objective.

Middle-class mothers’ participation in tutoring for spoken English: a case of unlocking middle-class identity and privilege in contemporary India

ABSTRACT Sociological inquiries on parental involvement seldom consider the investments parents make in themselves to realise educational advantages in their children's schooling. This gap hides the processes underlying class-making and class-produced privileges. To address this gap, this article investigates middle-class mothers’ participation in tutoring and coaching for spoken English in Dehradun, India, focusing on their reasons for soliciting such paid tutoring support. It shows that mothers subscribe to these services to facilitate home-teaching, productive communication with their children, and effective home-school partnerships. Mothers’ subscription to private tuition emerges in this context as a source of cultural capital that parents use to unlock their middle-class identity and privilege in the educational landscape. The article argues that English private tutoring is a case of a capital exchange – economic for cultural and social forms of capital – which parents may use to accumulate key resources and produce, maintain, and intergenerationally sustain their middle-classness.

Revisiting educational advantage and social class: a Bourdieusian analysis of middle-class parents’ investment in private schooling and shadow education

This article provides a Bourdieusian analysis of middle-class parents’ investment in private schooling and shadow education (tutoring support) in India, thus contributes to the scholarship of class-based educational advantage. It unveils parents’ aspirations for their children’s education and investigates how these aspirations shape the demand for private education. Bringing into sharp focus the complexity of social privilege, this article discusses how middle-class parents’ articulation of their lack of valued cultural capital informs their decision to invest in private schools. However, parents’ views on their ineffective involvement in their children’s education produce a perceived home disadvantage, which parents compensate for by investing in tutoring services. The article argues that investing in private education – both in formal educational institutions and tutoring centres – is a case of ‘capital exchange’ (transfer of economic capital to secure cultural capital) exercised by privileged social groups to ‘purchase’ valuable educational resources, thus reproducing their social class position.

The virtual good farmer: Farmers’ use of social media and the (re)presentation of “good farming”

AbstractThis paper advances the literature on the ‘good farmer’ by considering the role social media may play in the presentation, refinement and reworking of notions of good farming. In exploring these ideas, the paper brings current understandings of the good farmer into conversation with those literatures on online capital exchange and the extensions of Goffman's ideas of identity performance. The paper draws on analysis of 5,000 farming tweets and interviews with 22 farmers who utilize Twitter. The paper considers how social media offers a change to the geographies and temporalities of good farming as it allows connection to a broader, geographically unrestricted, audience, might open up the previously un(der)observed or inaccessible microspaces of the farm, and allow the multifarious and often ephemeral aspects of farming practices to be captured. In moving, conceptually, beyond the idea of identity performance toward one of curation, the paper introduces the idea of didactic text, which serves to contextualize what is seen as good (and bad) farming practice. The paper shows how social media's ability to offer this regular and contextual information allows us to move beyond abstracted and decontextualized symbols of good farming toward recognizing the context‐specific nature of the ‘rules of the game,’ and how a broader audience beyond the farming community may be beginning to play a role in (re)shaping the symbols and practices of good farming.

The Determinants of Vietnam’s Information and Communication Technologies Exports to the European Union

Vietnam is one of the top information and communication technologies (ICT) exporters globally, and the ICT products constitute nearly one-fifth of Vietnam’s total exports to the European Union (EU). This study empirically investigates the determinants of Vietnam’s ICT exports to the EU by applying the gravity model for trade with panel data from 2000 to 2019. Besides the traditional variables of the gravity model, we added gross capital formation, patent application and exchange rates as explanatory variables. The results show that among factors affecting Vietnam’s ICT export to the EU, market size, patent applications, and exchange rate are the most significant determinants. The article also suggests some policy implications for the development of ICT exports between the two parties. JEL Codes: F14, C2

Beijing Stock Exchange and Multi-Tier Capital Markets: How China Alters Share Listing and Trading Rules to Promote SME Finance?

Beijing Stock Exchange and Multi-Tier Capital Markets: How China Alters Share Listing and Trading Rules to Promote SME Finance?

Trends in the development of crowdfunding in the domestic business environment

The article examines the interpretation of the economic essence of crowdfunding by various scholars, its features and foreign experience of application in financing ideas and projects in various spheres of socio-economic life. In the context of globalization the opening of new markets and opportunities, intensification of capital exchange processes, the use of innovative financial solutions can have a positive impact on national competitiveness and attract small businesses and individuals with innovative ideas but do not have sufficient financial resources for their development and implementation. It is described that crowdfunding is a fundraising tool that with the help of Internet technologies allows to receive investments in a short time from a large number of people to support small or medium business projects, while crowdfunding participants are: project authors, project donors, Internet workers and the state as a regulator of these relations. The main indicators that need to be analyzed if you want to use crowdfunding as a tool of alternative financing of self-organizing economic systems, in particular are: analysis of macroeconomic indicators in the country of its application; comparison of risks of economic development and introduction of crowdfunding; creation of state measures to stimulate the economy and ensure information and financial security at all levels of crowdfunding regulation. The main models of crowdfunding that are used in world practice are described: P2P (Peer-to-Peer) for financing of individuals and P2B (Peer-to-Business) for financing of small and medium business. The main advantages and disadvantages of crowdfunding and the possibility of its application in different economies are considered. The advantages are the improvement of the project management process and increase of their efficiency through the establishment of feedback, the efficiency of which increases significantly due to the use of modern Internet technologies, which allows to transfer a significant part of project monitoring functions to investors. The disadvantage of crowdfunding is the impossibility of its application to large-scale projects that require large investments. The Strategy of the Development of the Financial Sector of Ukraine until 2025 has been studied, according to which it is envisaged to improve the regulation of the payment market infrastructure in accordance with EU standards and to create a large number of FinTech companies in Ukraine.

Managerial risk-reducing incentives and social and exchange capital

This study investigates the impact of managerial risk-reducing incentives on the firm's social and exchange capital. Using CEO inside debt holdings to proxy for the incentives of risk-averse managers, we find that CEOs with more inside debt holdings are likely to invest more in building social capital, which targets broader society and potentially offers anti-risk protection advantages, to shield the value of their inside debt. However, our results further show that managerial risk-reducing incentives have no impact on firms' exchange capital, suggesting the need to recognize the difference between social and exchange capital. These findings corroborate the view that CEOs invest in social capital as a risk management strategy. Furthermore, this paper presents an understanding of the role that institutional investors play in moderating the impact of managerial risk-reducing incentives on social capital. Our results suggest that institutional investors constrain CEOs that have greater inside debt incentives from investing in social capital. However, they are still willing to increase the investment in social capital for risk management purposes when firm risk is high.

Effects of group interactions on the network Parrondo’s games

A minimalistic multi-agent Parrondo’s game structure with network evolution (Game A) and branching dependent on the number of wins and losses of neighbors (Game B) was previously introduced, indicating that Parrondo’s paradox occurs, in which a losing strategy and a neutral strategy combine to yield a winning one. Using a similar Game B’s structure and introducing a new Game A’s structure with competition and cooperation behaviors, we further analyze the influences of network evolution, cooperation and competition behaviors as different group interactions on the network Parrondo’s games. Based on the multi-agent Parrondo’s game, the discrete Markov chain method is used. Theoretical analysis reveals that losing configurations of Game B, when stochastically mixed with neutral Game A with competition and cooperation behaviors, can result in paradoxical winning scenarios like network evolution and can even produce larger parameter space. Simulation results indicate that under different network topology structures stochastically mixing Game A with different group interactions and Game B can produce different enhanced winning outcomes, despite Game B being individually losing. The underlying paradoxical mechanisms where the ratcheting mechanism of Game B and the agitating mechanism of Game A with different group interactions are analyzed. It is also elucidated that agitation from Game A with different group interactions improves the capital exchange between individuals.

Capital and symbolic power in water quality governance: stakeholder dynamics in managing nonpoint sources pollution

Maintaining quantity and quality is a primary concern in the supply of drinking water. One critical indicator of water quality is nonpoint sources (NPS) pollution. However, persistent risks regarding water quality maintenance have often resulted from compounded social dynamics occurring within and between institutions, while solutions tend to concentrate on scientific/technological treatments. The present study aims to analyse the social dynamics operating within and between such institutions, with a particular focus on the management of NPS pollution that involves the participation of headwater residents. A qualitative case study was conducted on the management of the headwater in Taipei metropolis. The study applied Bourdieu's field theory to understand the mechanism of social interaction and diverse interests among stakeholders. Through in-depth interviews with stakeholders, this research investigated their perceptions regarding various water quality threats and treatments, also mechanisms and gaps in the implementation of NPS pollution-related policies. The study then interpreted emerging issues by considering the stakeholders' various forms of capital input, their strategies in capital exchange and accumulation, as well as the diverse symbolic powers in water quality governance. The research indicates that the ambiguous character of NPS pollution leads to diverse perceptions towards water quality risk, and the ambivalent strategies in negotiation also create barriers to stable stakeholder relationships. Consequently, the research suggests that technocratic-centred governance should also contain sociological perspectives on personal mentality and power dynamic in the society.

Foreign Capital Inflows, Exchange Rates, and Government Stability

Foreign Capital Inflows, Exchange Rates, and Government Stability

Spreading Curricular Reform: A Social Network Analysis

The purpose of this study was to inform not only the education field but also any industry undergoing large-scale reform of the types of organizational roles and relational ties that drive momentum. This study offers an explanation for the spread of organizational change in the context of teacher education reform, specifically in that of University–School Partnerships in the Renewal of Educator Preparation (US Prep). Knowledge of relationships in organizational change informs administration, policy makers, and curriculum change agents of requisite social structures to launch the programs they want to grow, and halt the programs they want to stop. Through social network modeling and a quantitative analysis of social capital exchange, this study illustrates the relational ties within two large state universities implementing the US Prep curricular reform model. The findings of this study support the social network theory of the strength in weak ties or that loosely connected networks foster greater change momentum. The social network analysis illustrates the integral roles and relationships driving the expansion of the coalition and suggests to policy makers that these roles and the types of social capital exchanged are imperative for change efforts that spread.