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    Social effect and corporate social responsibility: An analysis of the oil sector in an emerging market
    (AfricaGrowth Institute, 2024-12-01)
    Corporate Social Responsibility (CSR) and social impact are two fundamental pillars of companies' strategy. However, the extent to which these two dimensions affect market performance remains understudied in emerging economies. To fill this gap, this paper examines the relationship between CSR and social impact in the oil industry in an emerging market (Peru). Using an adequate case study approach, together with financial data analysis, and the information provided by companies’ annual reports and CSR reports, our results show that the expected positive relationship varies depending on many diverse factors. Specifically, to achieve social impact, companies must prioritize community and environmental responsibility, as well as stakeholder engagement. Nevertheless, we found that businesses struggling with any of these aspects either completely or partially reject social impact. Our findings have some important ramifications for policymakers as well as managers in the oil sector. This issue is especially relevant in emerging economies like the Peruvian one since they are highly dependent on raw materials exports, which ultimately affects not only the environment but also the local communities.
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    The two sides of inflation in Peru: Dynamics and monetary policy transmission
    (Elsevier B.V., 2026-10-01)
    When emerging-market inflation falls to advanced-economy levels, has anything fundamental changed in how firms set prices—or is the calm headline masking the same volatile forces underneath? Identical inflation rates can conceal very different pricing structures, yet aggregate measures cannot tell them apart. We address this question for Peru — a commodity-dependent small open economy that went from hyperinflation to advanced-economy price stability — by decomposing inflation into the upward and downward pricing pressures that net out to the headline rate. To do so, we extend the Quineche and Zapata (2026) decomposition to the fragmented CPI databases typical of emerging markets, applying it to 1996–2024 using up to 188 sub-indices across four base-year periods. The 2002 adoption of inflation targeting coincides with a turning point: both pressures fall by roughly half, their volatility compresses, and their asymmetry stabilizes—a change in pricing behavior, not just in the aggregate outcome. We then use TVP-VAR-SV models to show that contractionary monetary policy transmits asymmetrically, operating mainly through a persistent rise in deflationary pressure. Both pressures rise on impact, but inflationary pressure rises by more, producing the familiar short-run price puzzle before disinflation sets in. This transmission has itself evolved under inflation targeting: the short-run price increase weakens, while the restraint of price increases strengthens.
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    The key enablers of SMEs readiness in Industry 4.0: a case of Malaysia
    (Emerald Publishing, 2025-02-19)
    Purpose: The study sheds light on the internal enabling factors towards emerging market (EM) small and medium-sized enterprises’ (SMEs) preparedness for Industry 4.0 (I4.0) using three dimensions: managerial, operational and technological readiness. Design/methodology/approach: The study uses convenience sampling, having online and paper-based surveys and collecting 110 responses from manufacturing Malaysian SMEs. This sample allowed assessing the relationships of the hypothesized variables through the structural model of data analysis. Findings: This study’s findings demonstrate that financial capability and perceived benefits enhance Malaysian SMEs' managerial, operational and technological readiness. Research limitations/implications: Using Malaysia's case, this paper extends the discussion of the key drivers that underline the decision of EM firms to adopt I4.0. Practical implications: This study’s results provide valuable insights for policymakers to improve the digital ecosystem. Also, understanding critical drivers for I4.0 readiness would encourage SMEs in Malaysia to embrace new digital technologies. Originality/value: Although digital transformation towards I4.0 for manufacturing SMEs would be decisive, little is known about how ready these Malaysian firms are to adopt it or the driving factors that motivate them. Meanwhile, inadequate readiness causes a high failure rate in implementing new technology, processes or organizational changes.
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