International Journal of Business Ethics in Developing Economies https://i-scholar.in/index.php/ijbede <div id="i-scholarabout">The ongoing revolution in communication technology and the effectiveness of knowledge- based economics has created a new model of business and corporate governance for the emerging economies. The triple bottom line (people, planet, profit) approach to CSR emphasizes a company’s commitment to operating in an economically, socially and environmentally sustainable manner. The emerging concept of CSR advocates moving away from a ‘shareholder alone’ focus to a ‘multi-stakeholder’ focus. This would include investors, employees, business partners, customers, regulators, supply chain, local communities, the environment and society at large.</div> en-US publishing@publishingindia.com (Dr. Ananda Das Gupta) info@publishingindia.com (Manager, Publishing India Group) Sat, 03 Sep 2022 09:22:54 +0000 OJS 2.4.2.0 http://blogs.law.harvard.edu/tech/rss 60 Financial Literacy as the Key to Financial Inclusion https://i-scholar.in/index.php/ijbede/article/view/213671 <span>Financial inclusion is one of the most important tools for the sustainable growth of an economy. The pace of financial inclusion will be determined by how the marginalised, without knowledge of banking, are taught the basics of dealing with money. Financial literacy is now becoming a new trend in developed and developing countries, to spread awareness on budgeting, money management, saving and investment, credit, insurance, and so on. Globally, only one in three adults show an understanding of basic financial concepts (Klapper et al., 2015). Many schemes are undertaken by the government to ensure an inclusive growth. There are many factors that act as barriers in attaining financial inclusion, with the lack of financial literacy at the top (Atkinson &amp; Messy, 2013). There is no upper limit for financial literacy, as the developments and new instruments in the financial markets are growing. Therefore, the financial regulators are bringing initiatives to increase the financial literacy of the people so that they become wiser investors and assist in the wealth creation of the economy. The present paper is descriptive in nature and analyses the conceptual aspects of financial literacy and financial inclusion, with the help of secondary sources of information such as earlier literatures, news bulletins, books, and so on.</span> Ashoka M. L, Aswathy P https://i-scholar.in/index.php/ijbede/article/view/213671 Wed, 01 Dec 2021 00:00:00 +0000 Ethical Issues Relating to India’s COVID-19 Vaccine Policy: An Idealistic vis-à-vis Realistic Perspectiv https://i-scholar.in/index.php/ijbede/article/view/213680 <span>The socio-economic challenge emanating from the COVID-19 pandemic can be effectively arrested by inoculating the people all over the world. Tiding over the pandemic warrants vaccine solidarity by ensuring equity in the vaccine distribution among the countries around the globe. However, the Vaccine Nationalism (VN) attitude of many countries, especially the countries from the global north, is threatening the global fight against the pandemic. VN refers to the problem of the rich or vaccine-developing countries securing a majority of the supplies of vaccines initially to inoculate their own population. In this backdrop, the article highlights the case of the vaccine diplomacy of India, the domestic problem of vaccine shortages, and future directions. The vaccine diplomacy strategy adopted by India can be viewed as a humanitarian approach in the spirit of considering the world as one family from the idealistic viewpoint, whereas such steps can be seen as a strategic measure to counter China’s dominance in South Asia and also to reposition its global image. Such initiatives are also in line with South-South Cooperation and South-South and Triangular Cooperation. However, trading-off between domestic vaccine requirements and foreign vaccine requirements is extremely important for India, considering its huge population. Scaling up vaccine production by ensuring voluntary licensing for Indian origin vaccines, tackling vaccine hesitancy, and eventually, promoting vaccine solidarity will remain at the centre of the vaccine policy decision in the near future.</span> Sumit Kumar Maji, Arindam Laha https://i-scholar.in/index.php/ijbede/article/view/213680 Wed, 01 Dec 2021 00:00:00 +0000 Social Value of Investment towards Corporate Social Responsibility – Evidence from Navratna Company in India https://i-scholar.in/index.php/ijbede/article/view/213681 <span>The aim of this paper is to review the status of corporate CSR practices in a large Navratna Company in India, by critically appraising the resource application in the spectrum of focus areas, schedule VII of the CSR rules, and the consequent impacts. Finally, the study explored the extent of upgradation of social value due to such CSR initiatives. For the purpose of the study, we selected Oil India Limited (OIL), being an upstream company under the sector of crude oil exploration. The findings showed that through its social development activities, OIL has invested immensely in long-term governmental schemes like Swachh Vidyalaya/Swachh Bharat Abhiyan and LPG connections for BPL families, which will address various problems related to education, women, and the environment. Efforts under Swachh Vidyalaya/Swachh Bharat Abhiyan will address twin problems of girl child education and sanitation. The impact of LPG connections for BPL families will be felt on environment as it will reduce the burning of wood and other pollution generating material and at the same time reduce deforestation by reducing the use of wood as domestic fuel in the rural areas.</span> Zakir H Molla, Sarbani Mitra https://i-scholar.in/index.php/ijbede/article/view/213681 Wed, 01 Dec 2021 00:00:00 +0000 Challenges and Benefits of IFRS Implementation Projects: The Case of First-PhaseAdopters (Public Interest Entities in AddisAbaba) https://i-scholar.in/index.php/ijbede/article/view/213682 <span>The objective of this study was to examine the challenges and benefits of the IFRS implementation project in Ethiopia. The study raised two main research questions: what are the practical challenges faced while implementing IFRS in Ethiopia for the selected companies and what are the benefits gained by adopting this international standard. To answer these research questions, the study used descriptive research design and adopted the quantitative research approach. Based on the analysis, the results show that the IFRS implementation project in Ethiopia would result in a number of important benefits, like better quality of report, better risk management practices for the management, increased cross-border investment, reliability and accessibility of reports, improved financial statement disclosure, mobility of professionals from one country to another, and easy and simple intra-country organisation for a wide range of stakeholders, investors, companies, and management as well. On the other hand, the main challenges in the process of implementing IFRS include significant cost of adoption of IFRS, need for training, lack of readiness to implement within the time frame set by the board, lack of adequate implementation guidance, and lack of enforcement capacity. The study suggested that a rigorous IFRS capacity-building programme should be embarked by the government, all regulatory bodies, firms, and training institutions to provide the needed manpower for IFRS implementation.</span> Dakito Alemu Kesto, Zelalem Girma https://i-scholar.in/index.php/ijbede/article/view/213682 Wed, 01 Dec 2021 00:00:00 +0000