Social Planner’s Solution for the Caspian Sea Conflict

This paper evaluates the proposed alternatives for sharing the Caspian Sea from the social planner’s or systems-level perspective with respect to the stakeholders’ utilities from the oil and natural gas resources of the sea. Different multi-criteria decision-making methods, namely dominance, maximin, lexicography, simple additive weighting, and TOPSIS are applied to determine the social planner’s ranking of these alternatives. Results suggest the Condominium governance regime as the most promising division method. Bankruptcy rules and cooperative game theory methods can be considered as the other socially optimal resolutions to the conflict over sharing the Caspian Sea energy resources among its five littoral countries. Consideration of these methods in negotiations may help with resolving the existing deadlock, which has been in place for two decades.     

A Comprehensive Framework for Sustainable Project Portfolio Selection Based on Structural Equation Modeling

Project selection problems are inherently complex problems with multiple and often conflicting objectives. The complexity of project selection problems is due to the high number of projects from which a subset (portfolio) has to be chosen. Various analytical methods, ranging from the simple weighted sum to complex mathematical programming have been proposed to solving these problems. We propose an integrated approach for strategic and sustainable project portfolio selection, which is composed of two distinct but interrelated modules. In the first module, we use the strategic planning and sustainability concepts to select a set of promising projects. In the second module, we use a project portfolio selection procedure to choose among the promising projects identified in the first module. A structural equation model is used to analyze and explain the relationships among different factors in the proposed framework. More specifically, we investigate the effects of: (1) strategic level performance on sustainability, post‐implementation, and overall performance; (2) implementation performance on post‐implementation and overall performance; (3) portfolio selection performance on implementation and overall performance; and (4) post‐implementation performance on overall performance. A case study in investment banking is presented to demonstrate the applicability of the proposed model and exhibit the efficacy of the procedures and algorithms.     

Institutional origins of WOFS formal contracting: A judicial arbitrariness perspective

In drawing from neo-institutional theory and the institution-based view, this study provides new insights concerning how home and host country norms influence wholly owned foreign subsidiary (WOFS) formal contract utilization. Our analysis of 171 WOFSs operating in the Philippines suggests that parent home country uncertainty avoidance, as an institutionalized organizational practice, is positively related to WOFS utilization of formal contracts in governing interorganizational relationships. Our results also reveal that managerial perceptions of local judicial arbitrariness directly influence formal contract utilization, and moderate the positive relationship between parent home country uncertainty avoidance and WOFS formal contract utilization. Furthermore, when compared to managerial perceptions of national judicial arbitrariness, perceived local judicial arbitrariness will exhibit a stronger negative direct and indirect influence on WOFS formal contract utilization. Implications and future research directions are discussed.     

Green intellectual capital and ambidextrous green innovation: The impact on environmental performance

This study relies on a unique synthesis of ambidexterity theory and the natural resource orchestration approach to investigate how green intellectual capital elements, namely green human, structural, and relational capital, along with ambidextrous green innovation, trigger a synergy in favor of environmental performance. In particular, this paper primarily aims to test the mediating role of ambidextrous green innovation in the relationship between green intellectual capital and environmental performance. Based on a survey of 105 Iranian public listed companies, the results indicate that green intellectual capital elements are not directly associated with environmental performance. Instead, they influence environmental performance only through the channel of ambidextrous green innovation as a mediating variable. This is the first study to simultaneously embed the resource orchestration theory in the green intellectual capital and ambidexterity literature. The findings of the current study offer new insights into the issue of how organizations gain maximum benefit from the orchestration of their various green assets and capabilities, including green intellectual capital and ambidextrous green innovation.