Over‐indebtedness and microcredit in Cambodia: Moving beyond borrower‐centric frames

Over the past two decades, Cambodia has experienced an unprecedented credit boom, a growth in lending so rapid that the International Monetary Fund (IMF) referred to it as “one of the fastest financial deepening episodes by historical cross‐cultural standards” (IMF, 2016, p. 4). This deepening has been driven by the expansion of microcredit. In tandem, over‐indebtedness has increased among microcredit borrowers, and debt has become a significant political and economic concern. This article explores how over‐indebtedness is understood and explained by stakeholders across microcredit value chains. To do so, we draw on interviews with microfinance institution (MFI) executives, investors, branch managers, partners, financial literacy trainers, loan officers and borrowers in Siem Reap and Phnom Penh. We find that across the sector, dominant framings of over‐indebtedness privilege borrower‐centric explanations, while discounting the structural drivers of excessive lending and borrowing. As a consequence, current efforts to limit over‐indebtedness are unlikely to produce the kinds of solutions that are most needed to reduce the debt stress among borrowers. These arguments have implications across the Global South, particularly for contexts where microfinance is rapidly expanding.     

We are not in control—embrace uncertainty and trust in what emerges. Peter Senge on the legacy and future of Change Management

Gruppe. Interaktion. Organisation. Zeitschrift für Angewandte Organisationspsychologie (GIO) - Peter Senge is a senior lecturer at the MIT Sloan School of Management and founder of...     

Resolving Rabin’s paradox

We present a theoretical model of Rabin’s famous calibration paradox that resolves confusions in the literature and that makes it possible to identify the causes of the paradox. Using suitable experimental stimuli, we show that the paradox truly violates expected utility and that it is caused by reference dependence. Rabin already showed that utility curvature alone cannot explain his paradox. We, more strongly, do not find any contribution of utility curvature to the explanation of the paradox. We find no contribution of probability weighting either. We conclude that Rabin’s paradox underscores the importance of reference dependence.

     

Finding common ground: how superdiversity is unsettling social work education

For social work education in the Netherlands, the rapid transition towards superdiversity means that its capacity to adapt to this new reality and to adjust to diverse students’ backgrounds is fiercely challenged. The key aim of this article is to discuss how social work educators are dealing with the unsettling challenges of increasing diversity, based on the research outcomes of an explorative study amongst Turkish–Dutch and Moroccan–Dutch female professionals. Two different groups of educators were asked to comment on the outcomes of this study. One of the dilemmas for educators is to determine what can be considered supportive and inclusive and as reducing inequality in education. The authors used two key theoretical concepts, ‘superdiversity’ and ‘the capability approach’. These theoretical perspectives were used to deconstruct the rather massive concepts of diversity and social justice, by emphasising contextual approaches. Both perspectives stress the urgent need to involve students as ‘active agents of change’, by building a social work community to stimulate and facilitate an on-going dialogue. To successfully fulfil a pivotal role in the upward mobility or emancipation of ethnic minority students, social work education needs to be adjusted to accommodate diverse student groups.     

Tea Art as Everyday Practice: Gongfu Tea in Chaoshan,Guangdong, Today

In recent decades a style of preparing and drinking tea modelled largely on gongfu tea associated with the Chaoshan region of north-eastern Guangdong Province, China, has been taken up as a contemporary tea art in Taiwan, Hong Kong, the Chinese mainland and elsewhere. This paper draws on fieldwork conducted in Chaoshan to examine gongfu tea as contemporary practice in its home setting. Three aspects are considered: gongfu tea as an everyday practice, as a refined practice, and as commercialised leisure in tea-houses. I argue that, as an everyday practice in Chaoshan, gongfu tea primarily serves to nourish social connectedness with family, friends and associates. It is regarded as an integral part of day-to-day life rather than a tea art. However, some people separate it from the everyday world by cultivating discernment and knowledge with regard to selected aspects, such as high-quality teapots or appreciation of different teas.     

English proficiency in Australia, 1981 to 2016

Using Australian census data, the paper examines the incidence of poor English competency in Australia from 1981 onwards. The paper examines English competency in relation to various characteristics such as sex, age, language spoken, visa type, citizenship, duration of residence and location. It finds that there was a sharp rise in the numbers of people not speaking English well between the 2011 and 2016 Censuses and special attention is given to this rise in the paper. Recently, the Australian Government unsuccessfully legislated for the introduction of a requirement of English competency at the level of IELTS 6 (the commonly used university entrance level) as a condition for the award of Australian citizenship. The paper argues that this test would have led to a very large number of disenfranchised Australian permanent residents and this would be a highly undesirable result. Nevertheless, employment and social participation are strongly influenced by English competency and residents with poor English are disadvantaged. The policy suggestion is made that participation in a course of English language training for those without functional English skills could be made a precondition of the award of permanent residence—without the application of a passing grade.     

Interactive profit-planning systems and market turbulence: A dynamic capabilities perspective

This article describes, theorizes and empirically investigates the concept of interactive profit-planning systems (PPS) through the lens of the dynamic capabilities logic. With this conceptualization: interactive PPS capabilities comprise budgeting, forecasting and results-reporting routines, in which top and middle managers interact to create knowledge for sensing, seizing, and business model reconfiguring (to manage strategic business change). Survey data from 331 Australian firms is analyzed employing partial least squares structural equation modeling. The data provides support for two hypotheses: (1) greater market turbulence strengthens the positive effect of interactive PPS capabilities on business unit performance; and (2) greater market turbulence strengthens the positive effect of flexibility values (of organizational culture) on interactive PPS capabilities. Our findings show that interactive PPS capabilities function according to the salient tenets of the dynamic capabilities logic, and clarify the beneficial roles of formal cybernetic control systems and the intertwined involvement of top and middle managers in using dynamic capabilities.     

A ONE-PERIOD STOCHASTIC INVENTORY PROBLEM WITH A LUMP-SUM PENALTY COST

This paper presents an inventory problem related to the one-period stochastic inventory (or “newsboy”) problem. In this problem, the firm has to decide how much product to order to meet a random one-period demand. The version of the problem presented is novel in two respects. First, demand is explicitly permitted to be negative, and second, the penalty (or shortage) cost is assumed to be independent of the magnitude of the shortage. This situation is shown to change the form of the cost function and to complicate the determination of optimal policies. The form of the optimal policy is developed, and two example problems are presented in some detail.