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Case Study
bKash: Financial technology innovation for emerging markets

The founder of bKash Limited (bKash), a successful mobile financial services (MFS) model pioneered in Bangladesh, built the company from scratch, targeting services at the lower socioeconomic segment of society and eventually acquiring 26 million customers. bKash has had a positive impact on the lives of countless poor people and has gained worl…

Innovation Finance Technology Management Emerging Market
2023-2024 Ivey Publishing Best Seller Award (11th among 25 expert cases)
By Ishtiaq Pasha Mahmood, Marleen Dieleman and Narmin Tartila
© 2017
bKash: Financial technology innovation for emerging markets
By Ishtiaq Pasha Mahmood Marleen Dieleman and Narmin Tartila
©2017
Summary
The founder of bKash Limited (bKash), a successful mobile financial services (MFS) model pioneered in Bangladesh, built the company from scratch, targeting services at the lower socioeconomic segment of society and eventually acquiring 26 million customers. bKash has had a positive impact on the lives of countless poor people and has gained worl…
2023-2024 Ivey Publishing Best Seller Award (11th among 25 expert cases)
Copyright ©2017
Copyright owner External Copyright
Organization bKash
Industry Finance and Insurance
Available Languages English
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Case Study
National Payments Corporation of India: Cutting-edge Fintech ecosystem innovation in India

In recent years, India had experienced a digital revolution, emerging as a forerunner in cashless payments and, in the process, dramatically raising the level of financial inclusion in the country. The National Payments Corporation of India (NPCI), established in 2008 with the mandate to improve national payment systems, became a global gold sta…

Finance Economics
2023-2024 Ivey Publishing Best Seller Award (11th among 25 expert cases)
By Marleen Dieleman, Ishtiaq Pasha Mahmood and Sadat Reza
© 2024
National Payments Corporation of India: Cutting-edge Fintech ecosystem innovation in India
By Marleen Dieleman Ishtiaq Pasha Mahmood and Sadat Reza
©2024
Summary
In recent years, India had experienced a digital revolution, emerging as a forerunner in cashless payments and, in the process, dramatically raising the level of financial inclusion in the country. The National Payments Corporation of India (NPCI), established in 2008 with the mandate to improve national payment systems, became a global gold sta…
2023-2024 Ivey Publishing Best Seller Award (11th among 25 expert cases)
Copyright ©2024
Copyright owner External Copyright
Organization National Payments Corporation of India
Industry Finance and Insurance, Financial Services
Available Languages English
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Academic publications
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Article
Boundary conditions for organizations in the Anthropocene: A review of the planetary boundaries framework 10 years on

We systematically review business research concerning the planetary boundaries framework: A natural science framework that identifies nine Earth system boundaries that govern the safe operating space for humanity. Ten years after the introduction of the planetary boundaries in business studies, we pose two critical questions: How has the planeta…

Sustainability
By Amanda Williams, Paolo Perego and Gail Whiteman
in Journal of Management Studies
7 October 2024, ePub before print, https://doi.org/10.1111/joms.13150
Boundary conditions for organizations in the Anthropocene: A review of the planetary boundaries framework 10 years on
By Amanda Williams Paolo Perego and Gail Whiteman
in Journal of Management Studies 7 October 2024, ePub before print, https://doi.org/10.1111/joms.13150
Summary
We systematically review business research concerning the planetary boundaries framework: A natural science framework that identifies nine Earth system boundaries that govern the safe operating space for humanity. Ten years after the introduction of the planetary boundaries in business studies, we pose two critical questions: How has the planeta…
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Article
Impact orientation and venture capital financing: The interplay of governmental, social impact and traditional venture capital

In addition to traditional venture capital (VC), governmental VC and social impact VC investors have emerged as alternatives to fund entrepreneurial ventures, especially start-ups that incorporate social and/or environmental objectives into commercial operations. Using a sample of 15,510 VC-backed start-ups, we show that impact-oriented ventures…

Finance Venture Capital Social Innovation
By Valentina Lo Mele, Anita Quas, Patrick Reichert and Stefano Romito
in Finance Research Letters
October 2024, vol. 68, 105987, https://doi.org/10.1016/j.frl.2024.105987
Impact orientation and venture capital financing: The interplay of governmental, social impact and traditional venture capital
By Valentina Lo Mele Anita Quas Patrick Reichert and Stefano Romito
in Finance Research Letters October 2024, vol. 68, 105987, https://doi.org/10.1016/j.frl.2024.105987
Summary
In addition to traditional venture capital (VC), governmental VC and social impact VC investors have emerged as alternatives to fund entrepreneurial ventures, especially start-ups that incorporate social and/or environmental objectives into commercial operations. Using a sample of 15,510 VC-backed start-ups, we show that impact-oriented ventures…
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Article
Family businesses and strategic change: The role of family ownership

In this study, we analyze how the performance-aspiration gap influences strategic change in family firms, providing evidence of the moderating role of family ownership in this relationship. According to socioemotional wealth (SEW) theory, family owners pursue non-financial as well as financial goals, are more risk-averse due to their personal we…

Family Business Strategy
By Nina Schweiger, Kurt Matzler, Julia Hautz and Alfredo De Massis
in Review of Managerial Science
October 2024, vol. 18, pp. 2981-3005 https://doi.org/10.1007/s11846-023-00703-3
Family businesses and strategic change: The role of family ownership
By Nina Schweiger Kurt Matzler Julia Hautz and Alfredo De Massis
in Review of Managerial Science October 2024, vol. 18, pp. 2981-3005 https://doi.org/10.1007/s11846-023-00703-3
Summary
In this study, we analyze how the performance-aspiration gap influences strategic change in family firms, providing evidence of the moderating role of family ownership in this relationship. According to socioemotional wealth (SEW) theory, family owners pursue non-financial as well as financial goals, are more risk-averse due to their personal we…
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Article
A process study of evolving paradoxes and cross-sector goals: A partnership to accelerate global sustainability

Cross-sector partnerships formed to address societal challenges are widely advocated and increasingly common. Joint goal setting is an essential phase in the collaborative process that can determine the course of a partnership. Yet, little is known about how cross-sector goals change and evolve because goal alignment between partners is often ta…

Sustainability
By Amanda Williams, John N. Parker, Steve Kennedy and Gail Whiteman
in Journal of Management
30 September 2024, ePub before print, https://doi.org/10.1177/01492063241278803
A process study of evolving paradoxes and cross-sector goals: A partnership to accelerate global sustainability
By Amanda Williams John N. Parker Steve Kennedy and Gail Whiteman
in Journal of Management 30 September 2024, ePub before print, https://doi.org/10.1177/01492063241278803
Summary
Cross-sector partnerships formed to address societal challenges are widely advocated and increasingly common. Joint goal setting is an essential phase in the collaborative process that can determine the course of a partnership. Yet, little is known about how cross-sector goals change and evolve because goal alignment between partners is often ta…
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Article
A framework of generative impact-driven research: An introduction to the special issue

Management scholars are increasingly expressing a desire to conduct research that aims to solve social and environmental issues. Expectations from universities and funding bodies for research with societal impact are also growing. Yet, there are many unanswered questions about what impact-driven research looks like and how it can be conducted ri…

Sustainability
By Amanda Williams, Bill Harley, Judith Walls, Gail Whiteman and Glen Dowell
in Strategic Organization
29 September 2024, ePub before print, https://doi.org/10.1177/14761270241278812
A framework of generative impact-driven research: An introduction to the special issue
By Amanda Williams Bill Harley Judith Walls Gail Whiteman and Glen Dowell
in Strategic Organization 29 September 2024, ePub before print, https://doi.org/10.1177/14761270241278812
Summary
Management scholars are increasingly expressing a desire to conduct research that aims to solve social and environmental issues. Expectations from universities and funding bodies for research with societal impact are also growing. Yet, there are many unanswered questions about what impact-driven research looks like and how it can be conducted ri…
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Article
Carbon risk and equity prices

We study the effects of carbon transition risk on equity prices in the United States and Europe using disclosed carbon intensity data and find a negative effect on the cross section of returns and a negative carbon premium for the period 2009–2019. Examining fund flows, we find that institutional investors had an aversion to carbon-intensive sto…

Finance Sustainability
By Arthur Enders, Thomas S. Lontzek, Karl Schmedders and Marco Thalhammer
in The Financial Review
16 September 2024, ePub before print, https://doi.org/10.1111/fire.12414
Carbon risk and equity prices
By Arthur Enders Thomas S. Lontzek Karl Schmedders and Marco Thalhammer
in The Financial Review 16 September 2024, ePub before print, https://doi.org/10.1111/fire.12414
Summary
We study the effects of carbon transition risk on equity prices in the United States and Europe using disclosed carbon intensity data and find a negative effect on the cross section of returns and a negative carbon premium for the period 2009–2019. Examining fund flows, we find that institutional investors had an aversion to carbon-intensive sto…
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Article
Know your data to harness federated machine learning

Nowadays, deploying artificial intelligence no longer guarantees a competitive edge. What truly sets companies apart is access to diverse, extensive, high-quality data that enhances their AI system’s performance compared with that of their competitors. But concerns over data privacy can limit the use of unique, relevant data for analysis.

Artificial Intelligence Data Analytics Technology Management
By José Parra Moyano, Karl Schmedders and Maximilian Ulrich Werner
in MIT Sloan Management Review Blog
16 October 2024
Know your data to harness federated machine learning
By José Parra Moyano Karl Schmedders and Maximilian Ulrich Werner
in MIT Sloan Management Review Blog 16 October 2024
Summary
Nowadays, deploying artificial intelligence no longer guarantees a competitive edge. What truly sets companies apart is access to diverse, extensive, high-quality data that enhances their AI system’s performance compared with that of their competitors. But concerns over data privacy can limit the use of unique, relevant data for analysis.
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Article
How Eli Lilly outpaces Nvidia – Here is one chart

Move over, AI. The real bubble brewing isn’t in artificial intelligence—it’s in weight loss. Wall Street has been hyperventilating over Nvidia and OpenAI’s ChatGPT. But another titan has started to inflate. Ladies and gentlemen, let’s talk about Eli Lilly. There’s something curious about the chart below. Nvidia, the poster child of the AI revolu…

Artificial Intelligence Technology Management Leadership
By Howard H. Yu
in Forbes.com
15 October 2024
How Eli Lilly outpaces Nvidia – Here is one chart
By Howard H. Yu
in Forbes.com 15 October 2024
Summary
Move over, AI. The real bubble brewing isn’t in artificial intelligence—it’s in weight loss. Wall Street has been hyperventilating over Nvidia and OpenAI’s ChatGPT. But another titan has started to inflate. Ladies and gentlemen, let’s talk about Eli Lilly. There’s something curious about the chart below. Nvidia, the poster child of the AI revolu…
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Article
I launched the AI safety clock. Here’s what it tells us about existential risks

f uncontrolled artificial general intelligence—or “God-like” AI—is looming on the horizon, we are now about halfway there. Every day, the clock ticks closer to a potential doomsday scenario. That’s why I introduced the AI Safety Clock last month. My goal is simple: I want to make clear that the dangers of uncontrolled AGI are real and present. T…

Artificial Intelligence Technology Management Disruption
By Michael R. Wade
in Time
13 October 2024
I launched the AI safety clock. Here’s what it tells us about existential risks
By Michael R. Wade
in Time 13 October 2024
Summary
f uncontrolled artificial general intelligence—or “God-like” AI—is looming on the horizon, we are now about halfway there. Every day, the clock ticks closer to a potential doomsday scenario. That’s why I introduced the AI Safety Clock last month. My goal is simple: I want to make clear that the dangers of uncontrolled AGI are real and present. T…
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Article
Can Europe’s unified bond compete with US treasuries?

The idea of an EU bond, a common safe asset, has been gaining attention lately, particularly following calls for its introduction this month by former Italian prime minister Mario Draghi.

Finance Global Business Competitiveness
By Arturo Bris
in The National
11 October 2024
Can Europe’s unified bond compete with US treasuries?
By Arturo Bris
in The National 11 October 2024
Summary
The idea of an EU bond, a common safe asset, has been gaining attention lately, particularly following calls for its introduction this month by former Italian prime minister Mario Draghi.
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Article
How data disagrees with western backlash against China exports and impending ‘trade war’

Western media’s alarmist tone focuses on China’s growing surplus while data reveals foreign firms have made gains in China.

China Economics Global Business
By Simon J. Evenett
in The National
9 October 2024
How data disagrees with western backlash against China exports and impending ‘trade war’
By Simon J. Evenett
in The National 9 October 2024
Summary
Western media’s alarmist tone focuses on China’s growing surplus while data reveals foreign firms have made gains in China.
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Article
¿Dónde se queda corta la estrategia industrial de Mario Draghi para Europa?

The call by the former Italian prime minister and ECB president for massive investment in the EU is a wake-up call to Europe’s economic stagnation. But can the continent afford the trade-offs it is overlooking?

Global Business Finance Strategy
By Arturo Bris
in Expansión
30 September 2024
¿Dónde se queda corta la estrategia industrial de Mario Draghi para Europa?
By Arturo Bris
in Expansión 30 September 2024
Summary
The call by the former Italian prime minister and ECB president for massive investment in the EU is a wake-up call to Europe’s economic stagnation. But can the continent afford the trade-offs it is overlooking?
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Research Information & Knowledge Hub for additional information on IMD publications