Alba Graduate Business School, The American College of Greece

Technical Superiority Without Institutional Readiness: The War of the Currents as a Historical Precedent for AI Governance

This working paper argues that technical superiority is neither a necessary nor a sufficient condition for the diffusion of a new technology, and that the gap between technical capability and institutional readiness — the organizational, financial, and legal infrastructure requir...

The Rent-Capture Gap: Two Centuries of Commodity Cycles and Institutional Readiness in Chilean Economic Development

This working paper argues that natural-resource abundance is neither a necessary nor a sufficient condition for sustained economic development, and that the gap between resource endowment and institutional readiness — the fiscal, industrial, and legal-regulatory capacity to captu...

Beyond the Textbook Consensus: Capital Budgeting Technique Choice (NPV, IRR, Payback) Across Institutional Regimes — A Comparative Synthesis and Atlas

Corporate finance textbooks converge on a single normative answer to the capital budgeting problem: firms should rank and accept projects using Net Present Value (NPV), because NPV alone correctly aggregates the time value of money and the magnitude of value created. Five decades...

AI and Financial Risk Governance in Emerging Markets: Regulatory Gaps and Structural Exposure in Latin America

Artificial intelligence is reshaping credit assessment, fraud detection, payment infrastructure, and systemic risk monitoring across the global financial system. Yet the scholarly literature documenting this transformation is geographically lopsided: bibliometric reviews of AI in...

AI and Financial Risk Governance in Emerging Markets: Regulatory Gaps and Structural Exposure in Latin America

Artificial intelligence is reshaping credit assessment, fraud detection, payment infrastructure, and systemic risk monitoring across the global financial system. Yet the scholarly literature documenting this transformation is geographically lopsided: bibliometric reviews of AI in...