RESEARCHERS PAVE THE WAY FOR MORE RESEARCH INTO CRYPTOCURRENCY IN AFRICA COUNTRY: Egypt SCHOOL: School of Business, The American University in Cairo
SUSTAINABILITY AWARD STEMS FROM STUDENT SHORTLIST COUNTRY: The Netherlands SCHOOL: Rotterdam School of Management A graduate of the MSc International Management, a CEMS programme at Rotterdam School of Management (RSM), has won the School’s annual sustainability thesis award, with a paper on how resource-dependent firms can adapt to climate change. Although judged by business practitioners, it is current students at RSM who are tasked with shortlisting finalists for its annual KPMG-RSM Sustainability Master Thesis Award. This year’s student committee selected five finalists from a total of 1,500 entries, gaining valuable insights into the full spectrum of sustainability topics, and lessons in what makes a good thesis. ‘I expected to learn a lot about what it takes to write a well-rounded thesis… My expectations were fully met, and I was also pleasantly surprised at the content and potential impact of the work in students’ theses,’ said one committee member, Viktor Wisniewski. ‘It was inspiring to read so many outstanding theses with such diverse subjects,’ said another student committee member, Mandy Jorna. A third, Yulin Ai, added: ‘This work improves me personally, and it also has significance for me as a social citizen. If I can be a team manager in my career, then I will keep in mind the far-reaching meaning of “sustainability” and actively practise it.’ This year’s winner was 2021 graduate Antonio Cambio. In examining how firms can adapt to climate change, Cambio’s paper focused on global supply chains. His study looked at ways to mitigate risks and increase resilience, from both social and environmental impact standpoints. The findings of this suggest that the best solution to decreasing the overall vulnerability of wide supply chains may be to combine bridging and buffering strategies. This year’s runner up was Jonne van Gils, whose thesis considered the impact of cloud technology on corporate sustainability. The KPMG-RSM Sustainability Master Thesis Award is now in its 16th year and seeks to honour work which combines academic excellence and business relevance in the subject of sustainability management. / Tim Banerjee Dhoul (TBD)
With the use of cryptocurrency continuing to rise globally, researchers from the American University in Cairo did a deep dive into the use of cryptocurrency in Africa. The ensuing report, Does Cryptocurrency Hurt African Firms?, is authored by Mina Sami, Assistant Professor of Economics, and Wael Abdallah, Assistant Professor of Finance. Africa makes an interesting case study in cryptocurrency’s impact due to the diversity of use found across the continent, and the makeup of local populations. A staggering 57% of the continent’s total population are ‘unbanked’, while an estimated 2.6% are crypto users. This, of course, varies significantly by country. For example, it is estimated that 8.5% of Kenya’s population are cryptocurrency users, while in Egypt this number is 1.8%. To put this into a wider context, it is estimated that 6.1% of the UK’s population are cryptocurrency users. Cultural factors play a role in take-up – for example, in Egypt, people are wary of using cryptocurrency as the Central Bank of Egypt does not allow crypto trading. The report’s findings are not straightforward, and paint a complex picture. Overall, the researchers found that cryptocurrency impacts African micro entities negatively – particularly in industries which were seen to be less competitive, such as energy, finance, industry and consumer services. It was also observed that cryptocurrency has a particularly adverse impact on less experienced and highly indebted firms. ‘I believe there will be great growth in Africa’s crypto markets in the next year,’ commented Sami. ‘People are unbanked, and the stock market has high transaction costs, while cryptocurrency is decentralised, and transaction costs are low… So, the trend is very likely to grow in Africa, especially with the prospect of inflation and depreciating currencies in much of the continent; this makes crypto very attractive for traders… A safe haven.’ Due to public interest in the topic and a lack of cryptocurrency data in the region, the report has already led to its authors being listed among the top 10% of SSRN authors in the MENA region. / Ellen Buchan (EB)
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