Advancing transcendent development: An in-depth review of developmental corporate social responsibility’s value proposition,inhibitions, and inclusive sustainable development prospects

This article offers a methodologically innovative Representative Literature Review of 260 Development-Oriented Corporate Social Responsibility publications explicating why the nascent domain’s early momentum has seemingly stagnated. Using mixed-methodological citation network analysis informed by Applied Thematic Analysis research design principles, this in-depth literature review unearths a causal set of Impediments, leading to Inhibitors restraining Developmental Corporate Social Responsibility’s inclusive sustainable developmental potential. The Seven Impediments and their Seven Inhibitors are ultimately meta-thematically synthesized into the following Three Inhibitions presently stifling the field: “(I) Ignorance,” “(II) Isomorphism,” and “(III) Inharmony.” Resultantly, this article offers three contributions for addressing these Inhibitions. First, academic scholarship is offered knowledge of how “(I) Ignorance” may be curbed by producing research that retains and builds upon knowledge cumulatively, instead of losing it to fragmentary dissipation born of scholarly incoherence. Second, institutional policymakers are offered pathways for transcending superficial “(II) Isomorphism” by enforcing regulation that engenders ethical business conduct by filling critical institutional voids in developing context jurisdictions. Finally, this review outlines how the Inhibition of “(III) Inharmony” may be pragmatically transcended by harmonizing unconscious ontological dissonance through self-awareness and reflexive virtue development by synergistically enacting individual Moral Courage, Moral Tact, and Moral Imagination tempered by African Vhuthu/Ubuntu.     

Liquidity and hedging effectiveness under futures mispricing: International evidence

We analyze the hedging effectiveness of positions that replicate stock indexes using corresponding futures contracts through the application of a dynamic, stochastic hedging strategy proposed by Lafuente, J. A. and Novales, A. (2003). Conclusive gains do not emerge in any of the markets analyzed over the period considered, relative to the use of a constant unit hedge ratio. These findings are consistent with the trend observed in the IBEX 35 futures market study of Lafuente, J. A. and Novales, A. (2003). Our empirical evidence suggests that, contrary to what happens in less liquid markets, the discrepancy between theoretical and quoted prices in index futures contracts in fully developed markets does not represent a noise factor that can be successfully exploited for hedging. © 2009 Wiley Periodicals, Inc. Jrl Fut Mark 29:1050–1066, 2009