- ItemCaptive markets and climate change: revisiting Edith Penrose’s analysis of the international oil firms in the era of climate change(Taylor & Francis, 2023-08-14) Tobin, DamianEdith Penrose’s analysis of the investments of the international oil companies (IOCs) stemmed from her interest in the economics of the large international firm and its implications for developing economies. Her approach highlights the endogenous factors shaping the growth of the large firm and cautions against viewing it as a neutral technocracy where investment automatically responds to price incentives. Drawing on Penrose’s concept of a captive market in oil products, this research develops Penrose’s ideas around motive, profit, self-financing and the international firm to explain why the IOC’s institutional environment still favours investment in fossil fuels. The study collected country and firm level data on investment and production in downstream petrochemical refining. The data show a connection between the captive market and the strategies of the large oil firms in expanding refining capacity as a strategic hedge against regulatory policies to limit climate change. This locks society into a carbon intensive infrastructure, reduces the motivation for investment and adds to global CO2 emissions. The findings indicate that the oil companies need to take greater risks on green investments with their retained earnings. Governments need to direct this investment towards socially useful purposes using coordinated regulatory pressure.
- ItemJoan Robinson: early endogenous growth theorist(Cambridge University Press, 2023-08-03) Oughton, Christine; Tobin, DamianWe start from Robinson’s article on Harrod’s Dynamic Economics and her criticism that technological change was exogenous: ‘in Mr. Harrod’s world, technical progress falls like the gentle dew from heaven and is not susceptible to any economic influence’. Throughout her work she highlighted the endogenous sources of technological progress and growth and pre-empted both the National Systems of Innovation (NSI) literature and New Growth Theory (NGT), where the latter (NGT) appears to be neither new, nor able to explain innovation, growth and convergence trajectories. We also show that the productivity slowdown in advanced economies is explained by a fall in the wage share, a drop in the rate of accumulation of capital and prioritisation of incentives for R&D over policy instruments to diffuse innovation. While for developing economies, the failure of neoclassical economics to resolve the paradox of promoting market incentives for diffusion, while protecting intellectual property rights, implies an inevitable slowing of convergence.
- ItemIndustry talent branding: a collaborative and strategic approach to reducing hospitality’s talent challenge(Emerald Publishing Ltd., 2023-07-03) Manoharan, Ashokkumar; Scott-Young, Christina; McDonnell, AnthonyPurpose: The COVID-19 pandemic exacerbated the talent challenges faced by hospitality organisations. This paper aims to propose a new concept – industry talent branding – which, is argued, offers industry stakeholders the opportunity to reduce such issues through working more collaboratively and strategically to magnify the pool in which individual organisations compete for talent. Design/methodology/approach: This paper proposes a conceptual framework of industry talent branding, based on brand equity theory, signalling theory and the employer branding literature. Findings: Industry talent branding opens a potentially new stream of research on how talent attraction and retention issues may be addressed. The authors propose that there is merit in moving beyond the organisational-level phenomenon of employer branding to industry talent branding through articulating a broader collaborative and strategic agenda to increase and widen the talent pool available to organisations. Research limitations/implications: The proposed framework offers the hospitality industry and its encompassing stakeholders a means to adopt a more proactive, collective and strategic approach to address long-standing talent challenges. Originality/value: This paper combines brand equity and signalling theories to develop the concept of industry talent branding, defined as a strategically curated, yet realistic impression of the employee value proposition (i.e. the benefits and rewards received by employees in return for their work performance) available within the industry, that by design will sustainably attract new employees into the industry and retain existing talent.
- ItemCreativity development and Mode 2 theory development: Event system and experiential learning perspectives(Wiley, 2022-10-27) Kulichyova, Anastasia; Jooss, Stefan; Garavan, Thomas; Irish Research eLibraryLiterature on academic-stakeholder collaboration in the context of HRM is scarce and highlights the challenges linking theory to practice. Drawing on Mode 2 research, we theorise how a structured intervention enables the generation of theoretical insights concerning the development of employee creativity knowledge, skills, and attitudes (KSAs). Utilising event system theory, we reveal how the novelty, criticality, and disruption of a structured intervention fuel an experiential learning process. This process facilitates the development of important individual and team-based creativity KSAs and is sustained through a learning mindset. We develop insights about theories-in-use, HRM theory development, and the micro processes involved in an academic-stakeholder collaboration including areas of potential tension. From a practice perspective, we highlight the value of structured interventions for creativity KSA development and a strategy to facilitate academic-stakeholder collaboration.
- ItemFrom travel to virtual work: The transitional experiences of global workers during Covid-19(Elsevier, 2022-09-07) Jooss, Stefan; Conroy, Kieran M.; McDonnell, AnthonyThe Covid-19 pandemic has transformed how global work is conducted in multinational enterprises. There has been a rapid and forced shift from global mobility to global virtual work. Taking a transition perspective and drawing on event system theory, this paper examines the transitional working experiences of global workers amid a global health pandemic. Through 32 in-depth interviews (pre- and in-Covid-19), our findings reveal how this exogenous event has transformed previously unquestioned and enshrined global work routines. By unpacking the transition process, we find that global workers were challenged to reconfigure the structural and relational dimensions of their global work. We disentangle the strategic and sustainable lessons learnt on the future of global working for multinational enterprises.