Search results for: financial participation

Authors: Umbreen Salim, Anila Noor

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This paper analyses the influences and faces of colonialism in women’s participation in economic activity in postcolonial Pakistan, through postcolonial feminist economic lens. It is an attempt to probe the shifts in gender inequalities that have existed in three stages; pre-colonial, colonial, and postcolonial times in the Indo-Pak subcontinent. It delves into an inquiry of pre-colonial as it is imperative to understand the situation and context before colonisation in order to assess the deviations associated with its onset. Hence, in order to trace gender inequalities this paper analyses from Mughal Era (1526-1757) that existed before British colonisation, then, the gender inequalities that existed during British colonisation (1857- 1947) and the associated dynamics and changes in women’s vulnerabilities to participate in the economy are examined. Followed by, the postcolonial (1947 onwards) scenario of discriminations and oppressions faced by women. As part of the research methodology, primary and secondary data analysis was done. Analysis of secondary data including literary works and photographs was carried out, followed by primary data collection using ethnographic approaches and participatory tools to understand the presence of coloniality and gender inequalities embedded in the social structure through participant’s real-life stories. The data is analysed using feminist postcolonial analysis. Intersectionality has been a key tool of analysis as the paper delved into the gender inequalities through the class and caste lens briefly touching at religion. It is imperative to mention the significance of the study and very importantly the practical challenges as historical analysis of 18th and 19th century is involved. Most of the available work on history is produced by a) men and b) foreigners and mostly white authors. Since the historical analysis is mostly by men the gender analysis presented misses on many aspects of women’s issues and since the authors have been mostly white European gives it as Mohanty says, ‘under western eyes’ perspective. Whereas the edge of this paper is the authors’ deep attachment, belongingness as lived reality and work with women in Pakistan as postcolonial subjects, a better position to relate with the social reality and understand the phenomenon. The study brought some key results as gender inequalities existed before colonisation when women were hidden wheel of stable economy which was completely invisible. During the British colonisation, the vulnerabilities of women only increased and as compared to men their inferiority status further strengthened. Today, the postcolonial woman lives in deep-rooted effects of coloniality where she is divided in class and position within the class, and she has to face gender inequalities within household and in the market for economic participation. Gender inequalities have existed in pre-colonial, during colonisation and postcolonial times in Pakistan with varying dynamics, degrees and intensities for women whereby social class, caste and religion have been key factors defining the extent of discrimination and oppression. Colonialism may have physically ended but the coloniality remains and has its deep, broad and wide effects in increasing gender inequalities in women’s participation in the economy in Pakistan.

Keywords: colonialism, economic participation, gender inequalities, women

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Authors: Gezahegn Gizaw

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The FDRE Tourism Training Institute organizes forums for debates, best practices exchange and focus group discussions to forge a sustainable and growing tourism sector while minimizing negative impacts on the environment, communities, and cultures. This study aimed at applying empirical research method to identify and quantify relative importance of success factors and individual engagement indicators that were identified in these forums. Response to the 12-question survey was collected from a total of 437 respondents in academic training institutes (212), business executive and employee (204) and non-academic government offices (21). Overall, capacity building was perceived as the most important driver of success for stakeholder engagement. Business executive and employee category rated capacity building as the most important driver of success (53%), followed by decision-making process (27%) and community participation (20%). Among educators and students, both capacity building and decision-making process were perceived as the most important factors (40% of respondents), whereas community participation was perceived as the most important success factor only by 20% of respondents. Individual engagement score in capacity building, decision-making process and community participation showed highest variability by educational level of participants (variance of 3.4% - 5.2%, p<0.001). Individual engagement score in capacity building was highly correlated to perceived benefit of training on improved efficiency, job security, higher customer satisfaction and self-esteem. On the other hand, individual engagement score in decision making process was highly correlated to its perceived benefit on lowering business costs, improving ability to meet the needs of a target market, job security, self-esteem and more teamwork. The study provides a set of recommendations that help educators, business executives and policy makers to maximize the individual and synergetic effect of training, decision making process on sustainability and growth of the tourism sector in Ethiopia.

Keywords: engagement score, driver of success, capacity building, tourism

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Authors: Prince Ayodeji Yusuph

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Recapitalization process that has recently become an imperative process in the Nigerian Financial industry has implications for the survival of insurance sector, especially on their service delivery efficiency. This study therefore seeks to investigate the problem of inefficiency in the Nigerian Insurance market from the perspective of their cost structures. The study takes advantage of secondary data of financial reports of thirty randomly selected insurance firms which span over a period of ten years and applied transcendental logarithm model to evaluate their performance from the cost structures strategy. The results indicate that only large scale firms enjoy cost saving advantages. Twenty percent firms sampled belong to this category. The result suggests that premium income would contribute to insurance firm’s performance, only when a sound investment decisions are made.

Keywords: transcedental logarithm, cost structures, insurance firms and efficiency, Nigeria

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Authors: Amit Kumar Bardhan, Barnali Nag, Chandra Sekhar Mishra

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Microfinance is considered as one of the key drivers of financial inclusion and pro-poor financial growth. Microfinance in India became popular through Self Help Group (SHG) movement initiated by NABARD. In terms of outreach and loan portfolio, SHG Bank Linkage programme (SHG-BLP) has emerged as the largest microfinance initiative in the world. The success of financial inclusion lies in the successful implementation of SHG-BLP. SHGs are generally promoted by social welfare organisations like NGOs, welfare societies, government agencies, Co-operatives etc. and even banks are also involved in SHG formation. Thus, the pro-poor implementation of the scheme largely depends on the credibility of the SHG Promoting Institutions (SHPIs). The rural poor lack education, skills and financial literacy and hence need continuous support and proper training right from planning to implementation. In this study, we have made an attempt to inspect the reasons behind low penetration of SHG financing to the poorest of the poor both from demand and supply side perspective. Banks, SHPIs, and SHGs are three key essential stakeholders in SHG-BLP programmes. All of them have a vital role in programme implementation. The objective of this paper is to find out the drivers and hurdles in the path of financial inclusion through SHG-BLP and the role of SHPIs in reaching out to the ultra poor. We try to address questions like 'what are the challenges faced by SHPIs in targeting the poor?' and, 'what are factors behind the low credit linkage of SHGs?' Our work is based on a qualitative study of SHG programmes in semi-urban towns in the states of West Bengal and Odisha in India. Data are collected through unstructured questionnaire and in-depth interview from the members of SHGs, SHPIs and designated banks. The study provides some valuable insights about the programme and a comprehensive view of problems and challenges faced by SGH, SHPIs, and banks. On the basis of our understanding from the survey, some findings and policy recommendations that seem relevant are: increasing level of non-performing assets (NPA) of commercial banks and wilful default in expectation of loan waiver and subsidy are the prime reasons behind low rate of credit linkage of SHGs. Regular changes in SHG schemes and no incentive for after linkage follow up results in dysfunctional SHGs. Government schemes are mostly focused on creation of SHG and less on livelihood promotion. As a result, in spite of increasing (YoY) trend of number of SHGs promoted, there is no real impact on welfare growth. Government and other SHPIs should focus on resource based SHG promotion rather only increasing the number of SHGs.

Keywords: financial inclusion, inclusive growth, microfinance, Self-Help Group (SHG), Self-Help Group Promoting Institution (SHPI)

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Authors: Mohammed Ibahrine

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One of the prominent trends in the Saudi digital space in recent years is the boom in the use of social networking sites such as Facebook, YouTube, and Twitter. As of 2016, Twitter has over six million users in Saudi Arabia. In the wake of the recent political instability in the Arab region, digital platforms have gained importance for both, personal and professional purposes. A conspicuously observable tide of social activism has risen, with Twitter playing an increasingly important role. One of their primary goals is to enforce the logic of public visibility, social mobility and civic participation in the Saudi society. Saudi women use Twitter to disseminate specific and relevant information and promote their social agenda that remained unrecognized and invisible in the mainstream media and thus in the public sphere. The question is to what extent does Twitter empower Saudi women or reinforces their social immobility and invisibility? This paper focuses on three kinds of empowerment through Twitter in the religiously conservative and socially patriarchal Saudi society. It traces and analyses how Saudi female hashtactivism is increasingly becoming a site of struggle over visibility, mobility, control, and civic participation. The underlying thesis is that Twitter makes a contribution to the development of participatory culture, especially in the lives of women.

Keywords: civic, hashtactivism, Saudi Arabia, Twiterverse

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Authors: Henry Ataburo, Dominic Essuman, Emmanuel Kwabena Anin

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Recent trends of catastrophic events, such as the Covid-19 pandemic, the Suez Canal blockage, the Russia-Ukraine conflict, the Israel-Hamas conflict, and the climate change crisis, continue to devastate supply chains and the broader society. Prior authors have advocated for a simultaneous pursuit of resilience and sustainability as crucial for navigating these challenges. Nevertheless, the relationship between resilience and sustainability is a rather complex one: resilience and sustainability are considered unrelated, substitutes, or complements. Scholars also suggest that different firms prioritize resilience and sustainability differently for varied strategic reasons. However, we know little about whether, how, and when these choices produce different typologies of firms to explain differences in financial and market performance outcomes. This research draws inferences from the systems configuration approach to organizational fit to contend that a taxonomy of firms may emerge based on how firms configure resilience and environmental sustainability. The study further examines the effects of these taxonomies on financial and market performance in differing transportation disruption conditions. Resilience is operationalized as a firm’s ability to adjust current operations, structure, knowledge, and resources in response to disruptions, whereas environmental sustainability is operationalized as the extent to which a firm deploys resources judiciously and keeps the ecological impact of its operations to the barest minimum. Using primary data from 199 firms in Ghana and cluster analysis as an analytical tool, the study identifies four clusters of firms based on how they prioritize resilience and sustainability: Cluster 1 - "strong, moderate resilience, high sustainability firms," Cluster 2 - "sigh resilience, high sustainability firms," Cluster 3 - "high resilience, strong, moderate sustainability firms," and Cluster 4 - "weak, moderate resilience, strong, moderate sustainability firms". In addition, ANOVA and regression analysis revealed the following findings: Only clusters 1 and 2 were significantly associated with both market and financial performance. Under high transportation disruption conditions, cluster 1 firms excel better in market performance, whereas cluster 2 firms excel better in financial performance. Conversely, under low transportation disruption conditions, cluster 1 firms excel better in financial performance, whereas cluster 2 firms excel better in market performance. The study provides theoretical and empirical evidence of how resilience and environmental sustainability can be configured to achieve specific performance objectives under different disruption conditions.

Keywords: resilience, environmental sustainability, developing economy, transportation disruption

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Authors: Endalew Jibat, Feyera Senbeta, Tesfaye Zeleke, Fitsum Hagos

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Water governance considers multi-sector participation beyond the state; and for sustainable use of water resources, appropriate laws, policies, regulations, and institutions needs to be developed and put in place. Water policy, a critical and integral instrument of water governance, guided water use schemes and ensures equitable water distribution among users. The Ethiopian Central Rift Valley (CRV) is wealthy of water resources, but these water resources are currently under severe strain owing to an imbalance in human-water interactions. The main aim of the study was to examine the state of water resources governance in the CRV of Ethiopia, and the impact of the Ethiopian Water Resources Management Policy on water governance. Key informant interviews (KII), focused group discussions, and document reviews were used to gather data for the study. The NVivo 11 program was used to organize, code, and analyze the data. The results revealed that water resources governance practices such as water allocation and apportionment, comprehensive and integrated water management plans, water resources protection, and conservation activities were rarely implemented. Water resources management policy mechanisms were not fully put in place. Lack of coherence in water policy implementation, absence of clear roles and responsibilities of stakeholders, absence of transparency and accountability in irrigation water service delivery, and lack of meaningful participation of key actors in water governance decision-making were the primary shortcomings observed. Factors such as over-abstraction, deterioration of buffer zone, and chemical erosion from surrounding farming have contributed to the reduction in water volume and quality in the CRV. These challenges have influenced aquatic ecosystem services and threaten the livelihoods of the surrounding communities. Hence, reforms relating to policy coherence and enforcement, stakeholder involvement, water distribution strategies, and the application of water governance principles must be given more emphasis.

Keywords: water resources, irrigation, governance, water allocation, governance principles, stakeholders engagement, central rift valley

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Authors: Offer E. Edelstein, Iris Vered, Orly Sarid

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Background: Physical activity (PA) is considered as a major factor in bone density preservation and fracture prevention. Yet, gaps in understanding exist regarding how ethnocultural backgrounds might shape attitudes, intentions, and actual PA participation. Based on the theory of planned behavior (TPB) for predicting PA, the aims of the current study were: i) to compare attitudes, subjective norms, perceived control, intentions and knowledge, across two ethnocultural groups; ii) to evaluate the fit of the model across two ethnocultural groups of women: Israeli-born Jews and Ethiopian immigrants. Methods: Two hundred women (one hundred from each group), aged > 65, completed valid and reliable questionnaires assessing knowledge, TPB components, and actual PA. Results: The level of knowledge on osteoporosis was relatively low in both groups. Intention to participate in PA was the only variable that directly predicted actual PA. Intention to participate in PA served as a mediator among attitudes, subjective norms, perceived control, and actual PA. The TPB components mediated the link between knowledge and intention to participate in PA. Conclusion: It is important to understand and augment interventions that enhance PA, in the community, and with sensitivity concerning each ethnocultural group.

Keywords: attitudes, ethnocultural groups, knowledge, physical activity

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Authors: Samuel Olajide Babawale, Jonathan Bridge

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Natural Flood Management (NFM) is promoted as part of sustainable flood management (SFM) in response to climate change adaptation. Stakeholder engagement is central to this approach, and current trends are progressively moving towards a collaborative learning approach where stakeholder participation is perceived as one of the indicators of sustainable development. Within this methodology, participation embraces a diversity of knowledge and values underpinned by a philosophy of empowerment, equity, trust, and learning. To identify barriers to NFM uptake, there is a need for a new understanding of how stakeholder participation could be enhanced to benefit individual and community resilience within SFM. This is crucial in light of climate change threats and scientific reliability concerns. In contributing to this new understanding, this research evaluated the proposed interventions on six (6) UK NFM in a catchment known as the Sheffield Lakeland Partnership Area with reference to the Environment Agency Working with Natural Processes (WWNP) Potentials/Opportunities. Three of the opportunities, namely Run-off Attenuation Potential of 1%, Run-off Attenuation Potential of 3.3% and Riparian Woodland Potential, were modeled. In all the models, the interventions, though they have been proposed or already in place, are not in agreement with the data presented by EA WWNP. Findings show some institutional weaknesses, which are seen to inhibit the development of adequate flood management solutions locally with damaging implications for vulnerable communities. The gap in communication from practitioners poses a challenge to the implementation of real flood mitigating measures that align with the lead agency’s nationally accepted measures which are identified as not feasible by the farm management officers within this context. Findings highlight a dominant top-bottom approach to management with very minimal indication of local interactions. Current WWNP opportunities have been termed as not realistic by the people directly involved in the daily management of the farms, with less emphasis on prevention and mitigation. The targeted approach suggested by the EA WWNP is set against adaptive flood management and community development. The study explores dimensions of participation using the self-reliance and self-help approach to develop a methodology that facilitates reflections of currently institutionalized practices and the need to reshape spaces of interactions to enable empowered and meaningful participation. Stakeholder engagement and resilience planning underpin this research. The findings of the study suggest different agencies have different perspectives on “community participation”. It also shows communities in the case study area appear to be least influential, denied a real chance of discussing their situations and influencing the decisions. This is against the background that the communities are in the most productive regions, contributing massively to national food supplies. The results are discussed concerning practical implications for addressing interagency partnerships and conducting grassroots collaborations that empower local communities and seek solutions to sustainable development challenges. This study takes a critical look into the challenges and progress made locally in sustainable flood risk management and adaptation to climate change by the United Kingdom towards achieving the global 2030 agenda for sustainable development.

Keywords: natural flood management, sustainable flood management, sustainable development, working with natural processes, environment agency, run-off attenuation potential, climate change

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Authors: Jemima C. A. Sumboh

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Given the urgency and consensus for countries to move towards Universal Health Coverage (UHC), health financing systems need to be accurately and consistently monitored to provide valuable data to inform policy and practice. Most of the indicators for monitoring UHC, particularly catastrophe and impoverishment, are established based on the impact of out-of-pocket health payments (OOPHP) on households’ living standards, collected through varied household surveys. These surveys, however, vary substantially in survey methods such as the length of the recall period or the number of items included in the survey questionnaire or the farming of questions, potentially influencing the level of OOPHP. Using different survey instruments can provide inaccurate, inconsistent, erroneous and misleading estimates of UHC, subsequently influencing wrong policy decisions. Using data from a household budget survey conducted by the Navrongo Health Research Center in Ghana from May 2017 to December 2018, this study intends to explore the potential implications of using surveys with varied levels of disaggregation of OOPHP data on estimates of financial risk protection. The household budget survey, structured around food and non-food expenditure, compared three OOPHP measuring instruments: Version I (existing questions used to measure OOPHP in household budget surveys), Version II (new questions developed through benchmarking the existing Classification of the Individual Consumption by Purpose (COICOP) OOPHP questions in household surveys) and Version III (existing questions used to measure OOPHP in health surveys integrated into household budget surveys- for this, the demographic and health surveillance (DHS) health survey was used). Version I, II and III contained 11, 44, and 56 health items, respectively. However, the choice of recall periods was held constant across versions. The sample size for Version I, II and III were 930, 1032 and 1068 households, respectively. Financial risk protection will be measured based on the catastrophic and impoverishment methodologies using STATA 15 and Adept Software for each version. It is expected that findings from this study will present valuable contributions to the repository of knowledge on standardizing survey instruments to obtain estimates of financial risk protection that are valid and consistent.

Keywords: Ghana, household budget surveys, measuring financial risk protection, out-of-pocket health payments, survey instruments, universal health coverage

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Authors: Hassan Medaghri Alaoui

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The accounting and financial reporting system in use today is over 500 years old and has failed to capture the new knowledge and innovation economy in which intangible assets are becoming increasingly valuable. Yet, there has been a growing acknowledgment among the research community as to the relevance of intellectual capital as a major enhancer of an organization’s well-being. Much of the research provides great support for how the IC is instrumental in determining financial and stock performances. As far as we know, this article is one of the earliest exploratory attempts to examine the intellectual capital impact on the corporate performance of the IT sector in Morocco. The purpose of this study is to verify empirically the influence of intellectual capital on firm performance. We have undertaken, over a fifteen-year period, a longitudinal (2005–2019) case study of a prominent payment-solutions company based in a developing economy with global operations.

Keywords: intellectual capital, IT sector, measuring intellectual capital, modified value added intellectual capital coefficient, Morocco

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Authors: M. Sai Veerendra

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Today, money laundering (ML) poses a serious threat not only to financial institutions but also to the nation. This criminal activity is becoming more and more sophisticated and seems to have moved from the cliché of drug trafficking to financing terrorism and surely not forgetting personal gain. Most of the financial institutions internationally have been implementing anti-money laundering solutions (AML) to fight investment fraud activities. However, traditional investigative techniques consume numerous man-hours. Recently, data mining approaches have been developed and are considered as well-suited techniques for detecting ML activities. Within the scope of a collaboration project on developing a new data mining solution for AML Units in an international investment bank in Ireland, we survey recent data mining approaches for AML. In this paper, we present not only these approaches but also give an overview on the important factors in building data mining solutions for AML activities.

Keywords: data mining, clustering, money laundering, anti-money laundering solutions

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Authors: Ya-Hui Lee, Ching-Yi Lu

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Taiwan will become an aging society in 2018. The method to face the challenges related to the aging population has become an important topic. Purpose: This study aims to understand the future preparation of middle-age and older adults, and how they prepared themselves to face the problems of aging, and how they took actions to plan and cope with their future life. Moreover, how did they generate the process of learning action, so that they would be able to live a more active and meaningful life when they entered into their older age? Method: We conducted semi-structure interviews with 10 middle-aged and older adults who had taken actions to prepare for their future. We examined the interviewees’ consciousness and learning actions in their future preparation. Preliminary Results: 1. The triggering factors of the interviewees’ consciousness to prepare for the future included: family events, the desire to maintain active social lives after retirement, the continuation of the interviewees’ professional careers after retirement, and the aspiration for participation in volunteer services. 2. 'Health problems' and 'economic security' were issued of the utmost concern for the interviewees’ future. However, they would transform these worries to learning actions, comprising of active participation in learning, finding relevant information through learning; thus, accumulating more resources to cope with their future needs.

Keywords: middle-age and older adults, preparing for future, older adult learning

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Authors: Marko Čular

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The aim of this paper is to raise general awareness of transparency importance for audit firms and for audit services’ users. This paper analyses transparency of audit firms that audited financial statements of listed companies, for year 2011 and 2012. We use this two years because in the meantime Code of Ethics for Professional Accountants has been adopted. This paper investigates whether transparency reports of audit firms are in accordance with the Croatian Audit Act and whether there is a difference on transparency in observed years. For this paper, quality index of transparency report and financial indicators of audit firms are used to get conclusion about condition of audit firms transparency reporting. Results of our study indicate that audit firms are not fully transparent, looking for both years. Transparency of audit firms in 2012 has improved significantly, compared with transparency in 2011.

Keywords: transparency report, index quality of transparency report, Croatian audit act, code of ethics for professional accountants

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Authors: Jin Huang

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Research shows that asset-building policies have positive financial and non-financial impacts on children and families. To promote the development of asset-building policies for children in China, it is important to understand the current status of family savings for children. We use the data from the 2016 China Family Panel Studies and show only 16% of families have savings designated for children’s future education. Families with advantaged socioeconomic backgrounds are more likely to save and also save more for their children than their counterparts with disadvantaged backgrounds. Without large-scale and progressive policy interventions, families with disadvantaged backgrounds are less likely to build assets for children. Policy and practice implications for family social workers are discussed.

Keywords: assets, asset building, child, china, education, family, savings

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Authors: Marijana Ivanov, Roman Šubić

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The single rulebook together with the Single Supervisory Mechanism and the Single Resolution Mechanism - as two main pillars of the banking union, represent important steps towards completing the Economic and Monetary Union. It should provide a consistent application of common rules and administrative standards for supervision, recovery and resolution of banks – with the final aim that a former practice of the bail-out is replaced with the bail-in system through which bank failures will be resolved by their own funds, i.e. with minimal costs for taxpayers and real economy. It has to reduce the financial fragmentation recorded in the years of crisis as the result of divergent behaviors in risk premium, lending activities, and interest rates between the core and the periphery. In addition, it should strengthen the effectiveness of monetary transmission channels, in particular the credit channels and overflows of liquidity on the single interbank money market. However, contrary to all the positive expectations related to the future functioning of the banking union, low and unbalanced economic growth rates remain a challenge for the maintenance of financial stability in the euro area, and this problem cannot be resolved just by a single supervision. In many countries bank assets exceed their GDP by several times, and large banks are still a matter of concern because of their systemic importance for individual countries and the euro zone as a whole. The creation of the SSM and the SRM should increase transparency of the banking system in the euro area and restore confidence that have been disturbed during the depression. It would provide a new opportunity to strengthen economic and financial systems in the peripheral countries. On the other hand, there is a potential threat that future focus of the ECB, resolution mechanism and other relevant institutions will be extremely oriented to the large and significant banks (whereby one half of them operate in the core and most important euro area countries), while it is questionable to what extent the common resolution funds will be used for rescue of less important institutions.

Keywords: banking union, financial integration, single supervision mechanism (SSM)

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Authors: Elizabeth Snyman-Van Deventer

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Numerous corporate scandals, which included investment scams, corporate malfeasance, unethical conduct and conflicts of interest, contributed to the collapse of WorldCom, Global Crossing, Xerox, Tyco, Enron, Sprint, AbbVie and Imclone and led to alarmed investors abandoning public securities markets and the tumbling of U.S stock markets. These companies suffered significant financial losses due to substantial and fraudulent misstatements and other illegal, corrupt or unethical practices. Executives were convicted of fraud and sentenced to prison. The corporate financial scandals, governance failures, and the ensuing public outcries led to mandatory legislation, e.g. the Sarbanes-Oxley Act in the USA. In European corporate scandals such as Parmalat, Royal Dutch Ahold, Vivendi, Adecco and Elan, the boards missed financial misrepresentations. In South Africa, Steinhoff is the most well-known example of corporate collapse, but now we can also add Tongaat Hulett. It seems as if fraud and corruption may be the major sources of these corporate collapses. In most instances, there is either the active involvement of the directors and managers in these fraudulent or corrupt practices, or there is a negligent or even intentional failure to act by directors to prevent these activities. However, besides directors and managers, auditors and lawyers failed in most of these companies to fulfil their professional duties. In most of these major collapses, the ethics of especially auditors and directors could be questioned. This paper will first provide a brief overview of corporate collapses. Secondly, the reasons for these collapses, with a focus on unethical conduct, will be discussed.

Keywords: professional duties, corporate collapses, ethical conduct, legal ethics, directors, auditors

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Authors: Imen Latrous

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Family firm is the most common form of business organization in the world. Many family businesses rely heavily on their own capital to finance their expansion. This dependence on internal funds for their investment may be deliberate to maintain the family dominant position or involuntary as family firms have limited access to external funds. Our understanding of family firm’s choice to fund their own growth using existing capital is somewhat limited. The aim of this paper is to study whether the presence of a controlling family in the company either mitigates or exacerbates external financing constraints. The impact of family ownership on investment–cash flow sensitivity is ultimately an empirical question. We use a sample of 406 Canadian firms listed in Toronto Stock exchange (TSX) over the period 2005–2014 in order to explore this relationship. We distinguish between three elements in the definition of family firms, specifically ownership, control and management, to explore the issue whether family firms are more efficient organisational form. Our research contributes to the extant literature on family ownership in several ways. First, as our understanding of family firm’s investment cash flow sensitivity is somewhat limited in recession times, we explore the effect of family firms on the relation between investment and cash flow during the recent 2007-2009 financial crisis. We also analyse this relationship difference between family firms and non family firms before and during financial crisis. Finally, our paper addresses the endogeneity problem of family ownership and investment-cash flow sensitivity.

Keywords: family firms, investment–cash flow sensitivity, financial crisis, corporate governance

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Authors: Karin Eines, Riki Tesler

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Introduction: The Mamanet Cachibol League (MCL) is a community-based model developed in Israel to promote physical activity (PA) and amateur team sports among women. team sports are not just groups in the context of specific sport activity but also incorporated into a person’s sense of self and become influencing factor on sport-related behavior among the players. While in the non-Arabic sector, sport venues are available for the local authority population, the Arabic sector authorities face limited access sport facilities, with 168 sport venues and authorities with no venues at all. Within the Arab community, women participation in sports has traditionally been limited and, even more so for participation in team sports. Aims: The purpose of the study was to explore attributes of women MCL activity via: (1) assess differences between participants in the MCL and non-participants among Arab women regarding well-being level; (2) to examine among MCL participants the relationship between health maintenance characteristics and the likelihood of participating in the MCL; and (3) Use qualitative approach to shed light over the question why Arabic women participate in MCL and continue their engagement in PA. Methods: An explanatory sequential mixed-method design was employed to gain a deeper understanding of the advantages and motivations among women participating in community-based team sports. A cross-sectional survey was conducted among Israeli Arab women aged 25–59. Demographic characteristics, well-being (SRH and psychosomatic symptoms), eating habits, and social support were analyzed using two-way analyses of covariance and multiple regression models with a sequential entry of the variables. Quantitative results were further explored in qualitative in-depth interviews among 30 of the MCL participants, which shed light on additional reasons for participation in PA. Results: MCL participants reported better self-reported health (p < 0.001) and lower rates of psychosomatic symptoms (p < 0.001) compared to non-participants. Participation in MCL was also related to higher levels of well-being and healthy eating habits. Women who participated also experienced a profound sense of belonging, leading to enhanced social interactions and positivity in their personal and professional lives. They were dedicated to the group and felt empowered by the reciprocal commitment. The group promoted equality, making the women feel valued and respected, resulting in community admiration. Their involvement positively impacted their families, justifying their time commitment.

Keywords: wellbeing, obesity, community based sports, healthy eating habits, arab women

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Authors: Sibonakaliso Shadrack Nhlabathi

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In South Africa local governments which are charged with the provision of services and amenities, frequently, face challenges of public protests against what the public perceives to be poor services. Public protests are common, even though the Integrated Development Plan, a central public participation document, which informs local government planning and resources management, ought to be a reflection of the voices of the beneficiary communities. The Integrated Development Plan concept –which evolved from the international discourse on governance, planning, and urban management of the 1990s, and, which bears similarities to the UK’s approaches to urban management and planning– is a significant concept in the planning practice in South Africa. Against this backdrop of the spread of public protests and the supposedly public participation in IDP formulation, this study investigated the extent to which residents of the city of uMhlathuze municipality, South Africa, could use Geographical Information Systems (GIS) Story Maps to enhance public participation in the provision of services and amenities. To this effect, this study collected and analysed data obtained through interactive web maps or hard copy maps; this map data was accompanied by research participants’ attributes data. Research participants identified positive or negative service delivery areas. Positive places were the places which the residents represented as good infrastructural, and amenities areas and weak places were marked as poor amenities. Participants then located each of their identified strong or weak places as points on the GIS Story Maps or on hard copy maps of the city. The information which participants provided was subsequently analysed to produce maps of patterns of service provision. In this way, the study succeeded to identify places that needed attention regarding delivery of services and amenities. Thus, this study advanced service provision through GIS Story Maps.

Keywords: GIS, IPD, South Africa, story maps

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Authors: Shagufta Jahangir, Raisa Jahangir, Nadeemullah

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In many societies sports is considered inappropriate for women. It traditionally associated with mascunity. The proposed study aims at undertaking a critical situation analysis of sports women in Pakistan from a gender perspective by examining various aspects of sports women by gender including wrong social values, unstable economical position, wrong religious perspective and the role of media towards women in sports, while sports can provide a channel for informing women about their social and legal rights as well as their health issues, productive health and others. A major concern of the study is to identify the basic causes which depriving Pakistani women from sports. The Human Rights Commission of Pakistan and the Joint Action Committee for People’s Rights organized a symbolic mini marathon on 21 May 2005 in Pakistan to challenge arbitrary curbs on women’s public participation in sport and to highlight rising violence against women. Historically, sport has engaged the perception of gender-hierarchy in order to reproduce the ideology of male superiority, a notion which is often translated into ‘usual superiority’ within the superior communal order. However, it is argued here that we are presently in a state of communal instability with esteem to women's participation in sport.

Keywords: mascunity, gender, productive health, inappropriate, rights

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Authors: Zidane Abderrezaq

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This paper’s primary objective is to identify the relative importance of various Islamic financial products, in theory and in practice, by examining the financing records of the Bank Islam Malaysia (Berhad) and the Algeria Islamic Bank. Currently, seven available Islamic financing products are considered viable alternatives to interest-based conventional contracts: mudarabah (trust financing), musharakah (equity financing), ijarah (lease financing), murabahah (trade financing), qard al-hassan (welfare loan), bay` bi al-thaman al-ajil (deferred payment financing), and istisna` (progressive payments). Among these financial products, mudarabah and musharakah are the most distinct. Their unique characteristics (at least in theory) make Islamic banks and Islamic financing viable alternatives to the conventional interest-based financial system. The question before us is to determine the extent of mudarabah and musharakah in Islamic financing in practice. The data are as follows: the average mudarabah is 5% of total financing, and the average musharakah is less than 3%. The combined average of mudarabah and musharakah for the two Islamic banks is less than 4% of the total finance and advances. The average qard al-hassan is about 4%, while istisna` does not yet exist in practice. Murabahah is the most popular and dominates all other modes of Islamic financing. The average use of murabahah is over 54%. When the bay` bi al-thaman al-ajil is added to the murabahah, the percentage of total financing is shown to be 82.68%. This paper also explores some possible reasons why these two Islamic banks appear to prefer murabahah to mudarabah and musharakah.

Keywords: Islamic banking, Islamic finance, Islamic banking rofitability, investment banking

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Authors: Long Pham, Julia Blanke

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An increasingly popular way of establishing citizen engagement within communities is through ‘city apps’. Currently, most of these mobile applications seem to be extensions of the existing communication media, sometimes merely replicating the information available on the classical city web sites, and therefore provide minimal additional impact on citizen behavior and engagement. In order to overcome this challenge, we propose to use a holistic behavioral model to generate dynamic and contextualized app content based on optimizing well defined city-related performance goals constrained by the proposed behavioral model. In this paper, we will show how the data collected by the CorkCitiEngage project in the Irish city of Cork can be utilized to calibrate aspects of the proposed model enabling the design of a personalized citizen engagement app aiming at positively influencing people’s behavior towards more active participation in their communities. We will focus on the important aspect of intentions to act, which is essential for understanding the reasons behind the common value-action-gap being responsible for the mismatch between good intentions and actual observable behavior, and will discuss how customized app design can be based on a rigorous model of behavior optimized towards maximizing well defined city-related performance goals.

Keywords: city apps, holistic behaviour model, intention to act, value-action-gap, citizen engagement

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Authors: Mamiza Haq

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This paper examines the relevance of bank capital and charter value on bank insolvency and liquidity risks. Using an unbalanced panel of 2,111 unique local banks across 22 countries over 1998-2012, we find that both bank capital and charter value lower insolvency and liquidity risks, but this effect varies among conventional, Islamic, and Islamic-window banks. The risk constraining effect of bank capital becomes more prominent in the post 2007-2008 global financial crisis. Moreover, the relationships vary when conditioned upon other key bank-specific characteristics. For instance, the effect of capital on risk-reduction diminishes in the presence of high charter value for conventional-G7 and Islamic-window banks, during-GFC and pre-GFC period; respectively. Our findings have important policy implications related to bank safety. The results are robust to a range of robustness tests.

Keywords: bank capital, charter value, risk, financial crisis

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Authors: Elizelle Juanee Cilliers

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Recent planning thinking has laid the foundations for a general sense of best practice that aims to enhance the quality of life, suggesting an open and participatory process. It is accepted that integration of top-down and bottom-up approaches may lead to efficient action in environments and sustainable planning and development, although it is also accepted that such an integrated approach has various challenges of implementation. A flexible framework in which the strengths of both the top-down and bottom-up approaches were explored in this research, based on the EU Interreg VALUE Added project and five case studies where student education and student involvement played a crucial role within the participation process of the redesign of the urban environment. It was found that international student workshops were an effective tool to integrate bottom-up and top-down structures, as it acted as catalyst for communication, interaction, creative design, quick transformation from planning to implementation, building social cohesion, finding mutual ground between stakeholders and thus enhancing overall quality of life and quality of environments. It offered a good alternative to traditional participation modes and created a platform for an integrative planning approach. The role and importance of education and integration within the urban environment were emphasized.

Keywords: top-down, bottom-up, flexible, student involvement

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Authors: Jaskaran Singh Sidhu

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Aim: The purpose of this study is to find the relationship between wellness among sportsmen and non sportsmen. Methodology: The present study is an experimental study for 80 senior secondary volleyball players of 16-19 years of age from Ludhiana District of Punjab (India), and 80 non-sportsperson were taken from senior secondary school of Ludhiana district. The sample for this study was taken through a random sampling technique. Tools: A five point scale havinf 50 items was used to acess the wellness Statistical Analysis: To find out the relationship among the variables exists or not, a t-test was used to test the significance of the difference between the means. Statistics for each characteristic were calculated; Mean, Standard deviation, Standard error of Mean. Data were analyzed using SPSS (statistical package for the social sciences). Statistical significance was set at p < 0.05. Results: Substantial deviations were noted at p<0.5 in the totality of wellness. Sportsmen show significant differences exist at p<0.5 in three parameters of wellness i.e., physical wellness, mental wellness, and social wellness. In spiritual and emotional wellness attributes, non-sportsmen shows significant difference at p<0.5. Conclusion: From the data interpretation it reflects that overall wellness can be improved by participation in sports. It further noted in study that participation in sports promote the attributes of wellness i.e., physical wellness, mental wellness, emotional wellness and social wellness.

Keywords: physical, mental, social, emotional, wellness, spiritual

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Authors: Maciej Czarnecki

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Even though growth is one of the most important strategic objectives for many enterprises, we know relatively little about this phenomenon. This research contributes to broaden our knowledge of managerial consequences of growth. Scales for measuring organizational development and growing pains were developed. Conceptual model of connections among growth, organizational development, growing pains, selected development factors and financial performance were examined. The research process contained literature review, 20 interviews with managers, examination of 12 raters’ opinions, pilot research and 7 point Likert scale questionnaire research on 138 Polish enterprises employing 50-249 people which increased their employment at least by 50% within last three years. Factor analysis, Pearson product-moment correlation coefficient, student’s t-test and chi-squared test were used to develop scales. High Cronbach’s alpha coefficients were obtained. The verification of correlations among the constructs was carried out with factor correlations, multiple regressions and path analysis. When the enterprise grows, it is necessary to implement changes in its structure, management practices etc. (organizational development) to meet challenges of growing complexity. In this paper, organizational development was defined as internal changes aiming to improve the quality of existing or to introduce new elements in the areas of processes, organizational structure and culture, operational and management systems. Thus; H1: Growth has positive effects on organizational development. The main thesis of the research is that if organizational development does not catch up　with growing complexity of growing enterprise, growing pains will arise (lower work comfort, conflicts, lack of control etc.). They will exert a negative influence on the financial performance and may result in serious organizational crisis or even bankruptcy. Thus; H2: Growth has positive effects on growing pains, H3: Organizational development has negative effects on growing pains, H4: Growing pains have negative effects on financial performance, H5: Organizational development has positive effects on financial performance. Scholars considered long lists of factors having potential influence on organizational development. The development of comprehensive model taking into account all possible variables may be beyond the capacity of any researcher or even statistical software used. After literature review, it was decided to increase the level of abstraction and to include following constructs in the conceptual model: organizational learning (OL), positive organization (PO) and high performance factors (HPF). H1a/b/c: OL/PO/HPF has positive effect on organizational development, H2a/b/c: OL/PO/HPF has negative effect on growing pains. The results of hypothesis testing: H1: partly supported, H1a/b/c: supported/not supported/supported, H2: not supported, H2a/b/c: not supported/partly supported/not supported, H3: supported, H4: partly supported, H5: supported. The research seems to be of a great value for both scholars and practitioners. It proved that OL and HPO matter for organizational development. Scales for measuring organizational development and growing pains were developed. Its main finding, though, is that organizational development is a good way of improving financial performance.

Keywords: organizational development, growth, growing pains, financial performance

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Authors: Engy Eissa, Dina M. Yousri

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COVID-19 has hit massively the world economy, financial markets and even societies’ livelihood. The infectious disease caused by the most recently discovered coronavirus was claimed responsible for a shrink in the global economy by 4.4% in 2020. Shortly after the first case in Wuhan was identified, a quick surge in the number of confirmed cases in China was evident and a vast spread worldwide is recorded with cases surpassing the 500,000 cases. Irrespective of the disease’s trajectory in each country, a call for immediate action and prompt government intervention was needed. Given that there is no one-size-fits-all approach across the world, a number of containment and adoption policies were embraced. It was starting by enforcing complete lockdown like China to even stricter policies targeted containing the spread of the virus, augmenting the efficiency of health systems, and controlling the economic outcomes arising from this crisis. Hence, this paper has three folds; first, it examines the impact of containment policies taken by governments on controlling the number of cases and deaths in the given countries. Second, to assess the ramifications of COVID-19 on financial markets measured by stock returns. Third, to study the impact of containment policies measured by the government response index, the stringency index, the containment health index, and the economic support index on financial markets performance. Using a sample of daily data covering the period 31st of January 2020 to 15th of April 2021 for the 10 most hit countries in wave one by COVID-19 namely; Brazil, India, Turkey, Russia, UK, USA, France, Germany, Spain, and Italy. The aforementioned relationships were tested using Panel VAR Regression. The preliminary results showed that the number of daily deaths had an impact on the stock returns; moreover, the health containment policies and the economic support provided by the governments had a significant effect on lowering the impact of COVID-19 on stock returns.

Keywords: COVID-19, government policies, stock returns, VAR

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Authors: Stephanie Zuba-Bates

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Purpose: This qualitative research study explored the lived experience of people with functional movement disorder (FMD) including how it impacts their quality of life and participation in life activities. It aims to educate health care professionals about FMD from the perspective of those living with the disorder. Background: Functional movement disorder is characterized by abnormal motor movements including tremors, abnormal gait, paresis, and dystonia with no known underlying pathophysiological cause. Current research estimates that FMD may account for 2-20% of clients seen by neurologists. Getting a diagnosis of FMD is typically long and difficult. In addition, many healthcare professionals are unfamiliar with the disorder which may delay treatment. People living with FMD face great disruption in major areas of life including activities of daily living (ADLs), work, leisure, and community participation. OT practitioners have expertise in working with people with both physical disabilities as well as mental illness and this expertise has the potential to guide treatment and become part of the standard of care. In order for occupational therapists to provide these services, they must be aware of the disorder and must advocate for clients to be referred to OT services. In addition, referring physicians and other health professionals need to understand how having FMD impacts the daily functioning of people living with the disorder and how OT services can intervene to improve their quality of life. This study aimed to answer the following research questions: 1) What is the lived experience of individuals with FMD?; 2) How has FMD impacted their participation in major areas of life?; and, 3) What treatment have they found to be effective in improving their quality of life? Method: A naturalistic approach was used to collect qualitative data through semi-structured telephone interviews of five individuals living with FMD. Subjects were recruited from social media websites and resources for people with FMD. Data was analyzed for common themes among participants. Results: Common themes including the variability of symptoms of the disorder; challenges to receiving a diagnosis; frustrations with and distrust of health care professionals; the impact of FMD on the participant’s ability to perform daily activities; and, strategies for living with the symptoms of FMD. Conclusion: All of the participants in the study had to modify their daily activities, roles and routines as a result of the disorder. This is an area where occupational therapists may intervene to improve the quality of life of these individuals. Additionally, participants reported frustration with the medical community regarding the awareness of the disorder and how they were treated by medical professionals. Much more research and awareness of the disorder is in order.

Keywords: functional movement disorder, occupational therapy, participation, quality of life

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Authors: Ezana Haddis Weldeghebrael

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Addis Ababa City Administration is engaged in a massive facelift of the inner-city. The paper, therefore, aims to analyze the challenges of the current urban regeneration effort by paying special attention to Lideta and Basha Wolde Chilot projects. To this end, the paper has adopted a documentary research strategy to collect the data and Institutionalist perspective as well as the concept of urban regeneration to analyze the data. The sources were selected based on relevance and recency. Academic research outputs were used primarily. However, where much scholastic publications are not available institutional reports, newspaper articles, and expert presentations were used. The major findings of the research revealed that although the second generation of urban redevelopment projects have attempted to involve affected groups and succeeded in designing better neighborhoods, they are riddled with three major drawbacks. The first one is institutional constraints, i.e. absence of urban redevelopment strategy as well as housing policy, broad definition of ‘public purpose’, little regard for informal businesses, limitation on rights groups, negotiation power not devolved at sub-city level and no plan for groups that cannot afford to pay the down payment for low-cost apartments. The second one is planning limitation, i.e. absence of genuine affected group participation as well as consultative level of public engagement. The third one is implementation failure, i.e. no regard to maintaining social bond, non-participatory and ill-informed resettlement, interference from senior government officials, failure to protect the poor from speculators, corruption and disregard to heritage buildings. Based on the findings, the paper concluded that the current inner-city redevelopment has failed to be socially sustainable and calls for enactment of housing policy as well as redevelopment strategy, affected group participation, on-site resettlement, empowering the Sub-city to manage the project and allowing housing rights groups to advocate for the poor slum dwellers.

Keywords: participation, redevelopment, planning, implementation, consultation

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