Search results for: earnings
38 Foreign Direct Investment and its Role in Globalisation
Authors: Gupta Indu
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This paper aims to examine the relationship between foreign direct investment and globalization. Foreign direct investment plays an important role in globalization. It is dramatically increasing in the age of globalization. It has played an important role for economic growth in this global process. It can provide new markets and marketing channels, cheaper production facilities, access to new technology, products to a firm. FDI has come to play a major role in the internationalization of business. FDI has become even more important than trade. Growing liberalization of the national regulatory framework governing investment in enterprises and changes in capital markets profound changes have occurred in the size, scope and methods of FDI. New information technology systems, decline in global communication costs have made management of foreign investments far easier than in the past. FDI provide opportunities to host countries to enhance their economic development and opens new opportunities to home countries to optimize their earnings by employing their ideal resources. Smaller and weaker economies can drive out much local competition. For small and medium sized companies, FDI represents an opportunity to become more actively involved in international business activities. In the past decade, foreign direct investment has expanded its role by change in trade policy, investment policy, tariff liberalization, easing of restrictions on foreign investment and acquisition in many nations, and the deregulation and privatization of many industries. In present competitive scenario, FDI has become a prominent external source of finance for developing countries.Keywords: foreign direct investment, globalization, economic development, information technology systems new opportunities
Procedia PDF Downloads 23037 Fighting for What’s Fair: Illegitimacy Appraisals as Drivers of Different Collective Action Responses to Economic Inequality
Authors: Finn Lannon, Jenny Roth, Roland Deutsch, Eric Igou
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The world continues to be rife with economic inequality, which has an impact on how people think and behaves in response to large and often growing gaps in wealth. Large gaps in earnings between groups within a particular organization, area or society can create tension between groups. Collective action tendencies (to protest, sign a petition, vote on behalf of an ingroup etc.) are also a growing phenomenon globally. Research shows that economic inequality promotes social processes such as appraisals of illegitimacy, which are recognized antecedents of collective action. This paper examines different types of collective action intentions among middle-status group members in response to economic inequality in two studies. Study 1 (N = 72) demonstrates a causal link between high economic inequality and collective action intentions of middle-status group members both to reduce inequality and to improve group status. A second pre-registered study (N = 432) examines key drivers of these relationships, including illegitimacy appraisals and direction of intergroup comparison. Adding to the current understanding of the topic, distinctions between the illegitimacy of one’s group status and the illegitimacy of societal inequality are found to mediate key relationships between economic inequality and relevant collective action types. The direction of intergroup comparison (upwards vs. downwards) is also shown to have a significant impact on collective action intentions to improve group status. Findings add to the understanding of the consequences of economic inequality and drivers of collective action intentions.Keywords: economic inequality, collective action, legitimacy, social psychology
Procedia PDF Downloads 8936 Foreign Direct Investment, International Trade and Environment in Bangladesh: An Empirical Study
Authors: Shilpi Tripathi
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After independence, Bangladesh had to learn to survive on its own without any economic crutches (aid). Foreign direct investment (FDI) became a crucial economic tool for the country to become economically independent. The government started removing restrictions to encourage foreign investment, economic growth, international trade, and the environment. FDI is considered as a way to bridge the saving-investment gap, reduce poverty, balance trade, create jobs for its vast labour force, increase foreign exchange earnings and acquire new modern technology and management skills in the country. At the same time, spillovers of foreign investments in Bangladesh, such as low wages (compared to laborers of developed countries), poor working conditions and unbridled exploitation of the domestic resources, environmental externalities, etc., cannot be ignored. The most important adverse implications of FDI inflows noticed are the environmental problems, which are further impacting the health and society of the country. This paper empirically studies the relationship between FDI, economic growth, international trade (exports and Imports), and the environment since 1996. The first part of the paper focuses on the background and trends of FDI, GDP, trade, and environment (CO₂). The second part focuses on the literature review on the relationship between all the variables. The last part of the paper examines the results of empirical analysis like co-integration and Granger causality. The findings of the paper reveal that a uni-directional relationship exists between FDI, CO₂, and international trade (exports and imports). The direction of the causality reveals that FDI inflow is one of the major contributors to high-volume international trade. At the same time, FDI and international trade both are contributing to carbon emissions in Bangladesh. The paper concludes with the policy recommendations that will ensure environmentally friendly trade, investment, and growth in Bangladesh for the future.Keywords: foreign direct investment, GDP, international trade, CO₂, Granger causality, environment
Procedia PDF Downloads 18135 Is Audit Quality Implied by Accruals Quality Associated with Audit Fees and Auditor Tenure? Evidence from China
Authors: Hassan Y. Kikhia, Jin P. Zhang, Khaldoon G. Albiatr
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The Enron and Arthur Andersen scandal has raised concerns internationally about auditor independence and audit quality. Furthermore, the debate continues about the relationship between audit fees, auditor tenure and audit quality in spite of extensive empirical evidence examining audit failures and earnings management. Therefore, the purpose of current research is to determine the effect of audit fee and audit tenure both partially and simultaneously on the audit quality. Using a sample of Chinese firms, an environment where we believe it provides us with an opportunity to test whether the development of market and legal institutions affects the impact of audit fees and auditor tenure on audit quality. We employ the standard deviation of residuals from regressions relating current accruals to cash flows as proxy for audit quality. The paper documents statistically significant negative association between audit fees and audit quality. These findings are consistent with economic bonding being a determinant of auditor behavior rather than auditor reputational concerns. Further, the current paper shows a positive association between auditor tenure and audit quality in the earlier years of audit tenure. These results support the proposition that when the Learning Effect dominates the Bonding Effect in the earlier years of tenure, then audit quality is likely to be higher. Taken audit fees and audit tenure together, the results suggest that there is positive association between audit fees and audit quality in the earlier years of auditor tenure. Interestingly, the findings of our study have important implications for auditors, policymakers, multinational firms, and users of financial reports. As the rapid growth of China's economy gains global recognition, the Chinese stock market is capturing the attention of international investors. To a lesser extent, our paper also differs from the prior studies in methodology and findings in the investigation of audit quality.Keywords: audit quality, accruals quality, audit fees, auditor tenure
Procedia PDF Downloads 28034 Gadjah Mada University Yogyakarta Indonesia as a Potential Destination for Education Tourism
Authors: Henry Prihanto Nugroho
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This paper suggests education tourism as an option into developing more sustainable mass tourism. Identifying the potential of education tourism and developing a sustainable packages will have an impact on social economic development in the area. Indonesia especially Yogyakarta can increase their tourism earnings by tapping into this growing market phenomenon. Educational tourism, a growing part in the world tourism market, has attracted great attention because of its direct impact on the community and as an alternative strategy for poverty alleviation. Tourism is considered as one of the main industries and sectors highly contributing to economic development in Indonesia especially in Yogyakarta, this region can be an ideal case for studying the issue of educational tourism in Universitas Gadjah Mada. This paper tries to introduce the educational tourism as an important alternative source of the economy accelerator in the context of Yogyakarta Indonesia. This paper also aims to discuss the education tourism potential at the University of Gadjah Mada, Yogyakarta Indonesia then to create and established an Education Tourism package at Gadjah Mada University. Education Tourism is a means to empower academics, local community, local businesses, and to improve the economic welfare. Methods: Focus group discussions, direct observation, survey and best practice method. Conclusion: There is a positive relationship between attitude, environmental impact, economic impact, and socio-cultural impacts and practice in the field when the potential is seized. The findings incorporate insights into the socio-cultural and economic potential of education tourism and practices related to community development at the University of Gadjah Mada, Yogyakarta Indonesia by creating an Education Tourism Packages that will suit the needs of the tourist. Educational tourism can create sustainable development for local communities, academic society, universities, and stakeholders.Keywords: education tourism, Gadjah Mada, sustainable, tourism
Procedia PDF Downloads 39533 Effect of Sustainability Accounting Disclosure on Financial Performance of Listed Brewery Firms in Nigeria
Authors: Patricia Chinyere Oranefo
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This study examined the effect of sustainability accounting disclosure on financial performance of listed Brewery firms in Nigeria. The dearth of empirical evidence and literature on “governance disclosure” as one of the explanatory variables of sustainability accounting reporting were the major motivation for this study. The main objective was to ascertain the effect of sustainability accounting disclosure on financial performance of listed Brewery firms in Nigeria. An ex–post facto research design approach was adopted for the study. The population of this study comprises of five (5) Brewery firms quoted on the floor of the Nigeria exchange group (NSX) and the sample size of four (4) listed firms was drawn using purposive sampling method. Secondary data were carefully sourced from the financial statement/annual reports and sustainability reports from 2012 to 2021 of the Brewery firms quoted on the Nigeria exchange group (NSX). Panel regression analysis by aid of E-views 10.0 software was used to test for statistical significance of the effect of sustainability accounting disclosure on financial performance of listed Brewery firms in Nigeria. The results showed that economic sustainability disclosure indexes do not significantly affect return on asset of listed Brewery firms in Nigeria. The findings further revealed that environmental sustainability disclosure indexes do not significantly affect return on equity of listed Brewery firms in Nigeria. More so, results showed that Social Sustainability disclosure indexes significantly affect Net Profit Margin of listed Brewery firms in Nigeria. Finally, the result established also that governance sustainability disclosure indexes do not significantly affect Earnings per share of listed Brewery firms in Nigeria. Consequent upon the findings, this study recommended among others; that managers of Brewers in Nigeria should improve and sustain full disclosure practices on economic, environmental, social and governance disclosures following the guidelines of the Global Reporting Index (GRI) as they are capable of exerting significant effect on financial performance of firms in Nigeria.Keywords: sustainability, accounting, disclosure, financial performance
Procedia PDF Downloads 5932 Oil Exploration in the Niger Delta and the Right to a Healthy Environment
Authors: Olufunke Ayilara Aje-Famuyide
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The centrality of the Petroleum Industry in the world energy is undoubted. The world economy almost runs and depends on petroleum. Petroleum industry is a multi-trillion industry; it turns otherwise poor and underdeveloped countries into wealthy nations and thrusts them at the center of international diplomacy. Although these developing nations lack the necessary technology to explore and exploit petroleum resources they are not without help as developed nations, represented by their multinational corporations are ready and willing to provide both the technical and managerial expertise necessary for the development of this natural resource. However, the exploration of these petroleum resources comes with, sometimes, grave, concomitant consequences. These consequences are especially pronounced with respect to the environment. From the British Petroleum Oil rig explosion and the resultant oil spillage and pollution in New Mexico, United States to the Mobil Oil spillage along Nigerian coast, the story and consequence is virtually the same. Nigeria’s Niger Delta Region produces Nigeria’s petroleum which accounts for more than ninety-five percent of Nigeria’s foreign exchange earnings. Between 1999 and 2007, Nigeria earned more than $400 billion from petroleum exports. Nevertheless, petroleum exploration and exploitation has devastated the Niger Delta environment. From oil spillage which pollutes the rivers, farms and wetlands to gas flaring by the multi-national corporations; the consequences is similar-a region that has been devastated by petroleum exploitation. This paper thus seeks to examine the consequences and impact of petroleum pollution in the Niger Delta of Nigeria with particular reference on the right of the people of Niger Delta to a healthy environment. The paper further seeks to examine the relevant international, regional instrument and Nigeria’s municipal laws that are meant to protect the result of the people of the Niger Delta and their enforcement by the Nigerian State. It is quite worrisome that the Niger Delta Region and its people have suffered and are still suffering grave violations of their right to a healthy environment as a result of petroleum exploitation in their region. The Nigerian effort at best is half-hearted in its protection of the people’s right.Keywords: environment, exploration, petroleum, pollution
Procedia PDF Downloads 43231 The Determinants of Enterprise Risk Management: Literature Review, and Future Research
Authors: Sylvester S. Horvey, Jones Mensah
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The growing complexities and dynamics in the business environment have led to a new approach to risk management, known as enterprise risk management (ERM). ERM is a system and an approach to managing the risks of an organization in an integrated manner to achieve the corporate goals and strategic objectives. Regardless of the diversities in the business environment, ERM has become an essential factor in managing individual and business risks because ERM is believed to enhance shareholder value and firm growth. Despite the growing number of literature on ERM, the question about what factors drives ERM remains limited. This study provides a comprehensive literature review of the main factors that contribute to ERM implementation. Google Scholar was the leading search engine used to identify empirical literature, and the review spanned between 2000 and 2020. Articles published in Scimago journal ranking and Scopus were examined. Thirteen firm characteristics and sixteen articles were considered for the empirical review. Most empirical studies agreed that firm size, institutional ownership, industry type, auditor type, industrial diversification, earnings volatility, stock price volatility, and internal auditor had a positive relationship with ERM adoption, whereas firm size, institutional ownership, auditor type, and type of industry were mostly seen be statistically significant. Other factors such as financial leverage, profitability, asset opacity, international diversification, and firm complexity revealed an inconclusive result. The growing literature on ERM is not without limitations; hence, this study suggests that further research should examine ERM determinants within a new geographical context while considering a new and robust way of measuring ERM rather than relying on a simple proxy (dummy) for ERM measurement. Other firm characteristics such as organizational culture and context, corporate scandals and losses, and governance could be considered determinants of ERM adoption.Keywords: enterprise risk management, determinants, ERM adoption, literature review
Procedia PDF Downloads 17330 UEFA Super Cup: Economic Effects on Georgian Economy
Authors: Giorgi Bregadze
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Tourism is the most viable and sustainable economic development option for Georgia and one of the main sources of foreign exchange earnings. Events are considered as one of the most effective ways to attract foreign visitors to the country, and, recently, the government of Georgia has begun investing in this sector very actively. This article stresses the necessity of research based economic policy in the tourism sector. In this regard, it is of paramount importance to measure the economic effects of the events which are subsidized by taxpayers’ money. The economic effect of events can be analyzed from two perspectives; financial perspective of the government and perspective of economic effects of the tourism administration. The article emphasizes more realistic and all-inclusive focus of the economic effect analysis of the tourism administration as it concentrates on the income of residents and local businesses, part of which generate tax revenues for the government. The public would like to know what the economic returns to investment are. In this article, the methodology used to describe the economic effects of UEFA Super Cup held in Tbilisi, will help to answer this question. Methodology is based on three main principles and covers three stages. Using the suggested methodology article estimates the direct economic effect of UEFA Super cup on Georgian economy. Although the attempt to make an economic effect analysis of the event was successful in Georgia, some obstacles and insufficiencies were identified during the survey. The article offers several recommendations that will help to refine methodology and improve the accuracy of the data. Furthermore, it is very important to receive the correct standard of measurement of events in Georgia. In this caseü non-ethical acts of measurement which are widely utilized by different research companies will not trigger others to show overestimated effects. It is worth mentioning that to author’s best knowledge, this is the first attempt to measure the economic effect of an event held in Georgia.Keywords: biased economic effect analysis, expenditure of local citizens, time switchers and casuals, UEFA super cup
Procedia PDF Downloads 15229 A Study on the Impact of Employment Status of the Elderly on Their Mental Well-Being in India
Authors: Santosh B. Phad, Priyanka V. Janbandhu, Dhananjay W. Bansod
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Population Ageing is a growing concern for the social scientists. There is a higher level of aged male participation compared to elderly females. Now, the critical question is whether participation in work improves the quality of life among the elderly and the impact of working status on the mental well-being of the elderly. While examining these research questions, the present paper focuses on the workforce participation of the elderly and the reasons behind it, additionally, determines the association between employment status and the mental well-being of the elderly. The present study has a base of two data sources. First one is Census of India data, 2001 and 2011, and another one is – the Study on Global Ageing and Adult Health (SAGE), a survey conducted in 2007. To capture the trend of workforce participation elderly Census data is significant and to obtain other information associated with this issue the SAGE data is studied. The research piece consists of univariate and bivariate analysis along with some statistical methods like principal component analysis (PCA) and regression modeling – to investigate the association between workforce participation of elderly and subjective well-being (SWB). The results show that the percentage of elderly participating in the labor market is gradually reducing, but the share of working elderly has increased within the group of overall workers. i.e., the ratio of aged workers to non-aged workers is rising. The findings from survey data specify that there is a considerable share of the elderly in the labor market; three-fourths of the employed elderly enrolled the workforce unwillingly. They are in need of some earnings mainly to afford the medical expenses on their health or the health of their spouse, also to support their family members who are economically inactive. Apart from need, duration of working is another vital aspect for the elderly, whereas more than 80 percent of the elderly are working for six hours or more, and most of them engaged in self-employment. However, more than one-third of the working elderly falls into a negative cluster of the subjective well-being (SWB) index, and it is consistent with the result of the discriminant analysis. Here, the SWB index calculated from the 12 items and the reliability score of these items is 0.89.Keywords: ageing, workforce, census of India, SAGE
Procedia PDF Downloads 15128 Dynamic Modeling of the Green Building Movement in the U.S.: Strategies to Reduce Carbon Footprint of Residential Building Stock
Authors: Nuri Onat, Omer Tatari, Gokhan Egilmez
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The U.S. buildings consume significant amount of energy and natural resources and they are responsible for approximately 40 % of the greenhouse gases emitted in the United States. Awareness of these environmental impacts paved the way for the adoption of green building movement. The green building movement is a rapidly increasing trend. Green Construction market has generated $173 billion dollars in GDP, supported over 2.4 million jobs, and provided $123 billion dollars in labor earnings. The number of LEED certified buildings is projected to be almost half of the all new, nonresidential buildings by 2015. National Science and Technology Council (NSTC) aims to increase number of net-zero energy buildings (NZB). The ultimate goal is to have all commercial NZB by 2050 in the US (NSTC 2008). Green Building Initiative (GBI) became the first green building organization that is accredited by American National Standards Institute (ANSI), which will also boost number of green buildings certified by Green Globes. However, there is much less focus on greening the residential buildings, although the environmental impacts of existing residential buildings are more than that of commercial buildings. In this regard, current research aims to model the residential green building movement with a dynamic model approach and assess the possible strategies to stabilize the carbon footprint of the U.S. residential building stock. Three aspects of sustainable development are considered in policy making, namely: high performance green building (HPGB) construction, NZB construction and building retrofitting. 19 different policy options are proposed and analyzed. Results of this study explored that increasing the construction rate of HPGBs or NZBs is not a sufficient policy to stabilize the carbon footprint of the residential buildings. Energy efficient building retrofitting options are found to be more effective strategies then increasing HPGBs and NZBs construction. Also, significance of shifting to renewable energy sources for electricity generation is stressed.Keywords: green building movement, residential buildings, carbon footprint, system dynamics
Procedia PDF Downloads 42827 Characterization of Transcription Factors Involved in Early Defense Response during Interaction of Oil Palm Elaeis guineensis Jacq. with Ganoderma boninense
Authors: Sakeh N. Mohd, Bahari M. N. Abdul, Abdullah S. N. Akmar
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Oil palm production generates high export earnings to many countries especially in Southeast Asian region. Infection by necrotrophic fungus, Ganoderma boninense on oil palm results in basal stem rot which compromises oil palm production leading to significant economic loss. There are no reliable disease treatments nor promising resistant oil palm variety has been cultivated to eradicate the disease up to date. Thus, understanding molecular mechanisms underlying early interactions of oil palm with Ganoderma boninense may be vital to promote preventive or control measure of the disease. In the present study, four months old oil palm seedlings were infected via artificial inoculation of Ganoderma boninense on rubber wood blocks. Roots of six biological replicates of treated and untreated oil palm seedlings were harvested at 0, 3, 7 and 11 days post inoculation. Next-generation sequencing was performed to generate high-throughput RNA-Seq data and identify differentially expressed genes (DEGs) during early oil palm-Ganoderma boninense interaction. Based on de novo transcriptome assembly, a total of 427,122,605 paired-end clean reads were assembled into 30,654 unigenes. DEGs analysis revealed upregulation of 173 transcription factors on Ganoderma boninense-treated oil palm seedlings. Sixty-one transcription factors were categorized as DEGs according to stringent cut-off values of genes with log2 ratio [Number of treated oil palm seedlings/ Number of untreated oil palm seedlings] ≥ |1.0| (corresponding to 2-fold or more upregulation) and P-value ≤ 0.01. Transcription factors in response to biotic stress will be screened out from abiotic stress using reverse transcriptase polymerase chain reaction. Transcription factors unique to biotic stress will be verified using real-time polymerase chain reaction. The findings will help researchers to pinpoint defense response mechanism specific against Ganoderma boninense.Keywords: Ganoderma boninense, necrotrophic, next-generation sequencing, transcription factors
Procedia PDF Downloads 26626 Poverty Alleviation and Agricultural Management Policies in Nasarawa State of Nigeria: Lessons from the Roots and Tuber Crops Expansion for Increased Food Production (1996-2011)
Authors: Yahaya Abdullahi Adadu, Canice Erunke Esidene
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The problems of socio-economic development have been a major challenge bedeviling the Nigerian post-colonial state since her political independence from Britain in October I,1960. Critics have argued that the dilemma of Nigeria’s economic survival started since the early 1970s when the agricultural sector which supposedly was the economic mainstay has been literally substituted with the gains of the oil petro-dollars coming from the foreign exchange earnings. Agriculture therefore, which used to be a major player in terms of human and national upliftment in Nigeria have been given a back seat while oil and gas has taken over the front burner in virtually every aspect of Nigeria’s national life. This study is therefore an exposition of the efforts of the Nasarawa state government in reversing the dangerous trend in which the over reliance on oil wealth has caused to persons, individuals and groups in terms of the prevailing levels of poverty and other attendant vices therein. The study focuses on the management policies of the various regimes in the state since its inception in 1996, with particular reference to the regime types-military and civilian alike in propelling the needed policy change, which could transform the economy in line with international best practices. Particular emphasis will be paid to the BADA-KOSHI agricultural scheme whose interest was to recover the lost glory of rural agriculture through series of roots and tuber expansion, and particularly such crops as yam minissetts, cassava, sweet potatoes and coco-yam, respectively. The paper covers the period between 1996 -2011, a period considered to be critical in the agricultural revolution of the state. The study adopts a theoretical approach via secondary methods of analysis for the efficient explanations of the burning issues under consideration. The paper sums up with policy recommendations and conclusion.Keywords: poverty, agriculture, Badakoshi, rural policy management
Procedia PDF Downloads 44325 Exploring Social and Economic Barriers in Adoption and Expansion of Agricultural Technologies in Woliatta Zone, Southern Ethiopia
Authors: Akalework Mengesha
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The adoption of improved agricultural technologies has been connected with higher earnings and lower poverty, enhanced nutritional status, lower staple food prices, and increased employment opportunities for landless laborers. The adoption and extension of the technologies are vastly crucial in that it enables the countries to achieve the millennium development goals (MDG) of reducing extreme poverty and hunger. There are efforts which directed to the enlargement and provision of modern crop varieties in sub-Saharan Africa in the past 30 years. Nevertheless, by and large, the adoption and expansion of rates for improved technologies have insulated behind other regions. This research aims to assess social and economic barriers in the adoption and expansion of agricultural technologies by local communities living around a private agricultural farm in Woliatta Zone, Southern Ethiopia. The study has been carried out among rural households which are located in the three localities selected for the study in the Woliatta zone. Across sectional mixed method, the design was used to address the study objective. The qualitative method was employed (in-depth interview, key informant, and focus group discussion) involving a total of 42 in-depth informants, 17 key-informant interviews, 2 focus group discussions comprising of 10 individuals in each group through purposive sampling techniques. The survey method was mainly used in the study to examine the impact of attitudinal, demographic, and socioeconomic variables on farmers’ adoption of agricultural technologies for quantitative data. The finding of the study revealed that Amibara commercial farm has not made a resolute and well-organized effort to extend agricultural technology to the surrounding local community. A comprehensive agricultural technology transfer scheme hasn’t been put in place by the commercial farm ever since it commenced operating in the study area. Besides, there is an ongoing conflict of interest between the farm and the community, which has kept on widening through time, bounds to be irreversible.Keywords: adoption, technology transfer, agriculture, barriers
Procedia PDF Downloads 15024 Measures of Corporate Governance Efficiency on the Quality Level of Value Relevance Using IFRS and Corporate Governance Acts: Evidence from African Stock Exchanges
Authors: Tchapo Tchaga Sophia, Cai Chun
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This study measures the efficiency level of corporate governance to improve the quality level of value relevance in the resolution of market value efficiency increase issues, transparency problems, risk frauds, agency problems, investors' confidence, and decision-making issues using IFRS and Corporate Governance Acts (CGA). The final sample of this study contains 3660 firms from ten countries' stock markets from 2010 to 2020. Based on the efficiency market theory and the positive accounting theory, this paper uses multiple econometrical methods (DID method, multivariate and univariate regression methods) and models (Ohlson model and compliance index model) regression to see the incidence results of corporate governance mechanisms on the value relevance level under the influence of IFRS and corporate governance regulations act framework in Africa's stock exchanges for non-financial firms. The results on value relevance show that the corporate governance system, strengthened by the adoption of IFRS and enforcement of new corporate governance regulations, produces better financial statement information when its compliance level is high. And that is both value-relevant and comparable to results in more developed markets. Similar positive and significant results were obtained when predicting future book value per share and earnings per share through the determination of stock price and stock return. The findings of this study have important implications for regulators, academics, investors, and other users regarding the effects of IFRS and the Corporate Governance Act (CGA) on the relationship between corporate governance and accounting information relevance in the African stock market. The contributions of this paper are also based on the uniqueness of the data used in this study. The unique data is from Africa, and not all existing findings provide evidence for Africa and of the DID method used to examine the relationship between corporate governance and value relevance on African stock exchanges.Keywords: corporate governance value, market efficiency value, value relevance, African stock market, stock return-stock price
Procedia PDF Downloads 5723 The Effect of Artificial Intelligence on Petroleum Industry and Production
Authors: Mina Shokry Hanna Saleh Tadros
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The centrality of the Petroleum Industry in the world energy is undoubted. The world economy almost runs and depends on petroleum. Petroleum industry is a multi-trillion industry; it turns otherwise poor and underdeveloped countries into wealthy nations and thrusts them at the center of international diplomacy. Although these developing nations lack the necessary technology to explore and exploit petroleum resources they are not without help as developed nations, represented by their multinational corporations are ready and willing to provide both the technical and managerial expertise necessary for the development of this natural resource. However, the exploration of these petroleum resources comes with, sometimes, grave, concomitant consequences. These consequences are especially pronounced with respect to the environment. From the British Petroleum Oil rig explosion and the resultant oil spillage and pollution in New Mexico, United States to the Mobil Oil spillage along Egyptian coast, the story and consequence is virtually the same. Egypt’s delta Region produces Nigeria’s petroleum which accounts for more than ninety-five percent of Nigeria’s foreign exchange earnings. Between 1999 and 2007, Egypt earned more than $400 billion from petroleum exports. Nevertheless, petroleum exploration and exploitation has devastated the Delta environment. From oil spillage which pollutes the rivers, farms and wetlands to gas flaring by the multi-national corporations; the consequences is similar-a region that has been devastated by petroleum exploitation. This paper thus seeks to examine the consequences and impact of petroleum pollution in the Egypt Delta with particular reference on the right of the people of Niger Delta to a healthy environment. The paper further seeks to examine the relevant international, regional instrument and Nigeria’s municipal laws that are meant to protect the result of the people of the Egypt Delta and their enforcement by the Nigerian State. It is quite worrisome that the Egypt Delta Region and its people have suffered and are still suffering grave violations of their right to a healthy environment as a result of petroleum exploitation in their region. The Egypt effort at best is half-hearted in its protection of the people’s right.Keywords: crude oil, fire, floating roof tank, lightning protection systemenvironment, exploration, petroleum, pollutionDuvernay petroleum system, oil generation, oil-source correlation, Re-Os
Procedia PDF Downloads 7822 The Ethical Imperative of Corporate Social Responsibility Practice and Disclosure by Firms in Nigeria Delta Swamplands: A Qualitative Analysis
Authors: Augustar Omoze Ehighalua, Itotenaan Henry Ogiri
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As a mono-product economy, Nigeria relies largely on oil revenues for its foreign exchange earnings and the exploration activities of firms operating in the Niger Delta region have left in its wake tales of environmental degradation, poverty and misery. This, no doubt, have created corporate social responsibility issues in the region. The focus of this research is the critical evaluation of the ethical response to Corporate Social Responsibility (CSR) practice by firms operating in Nigeria Delta Swamplands. While CSR is becoming more popular in developed society with effective practice guidelines and reporting benchmark, there is a relatively low level of awareness and selective applicability of existing international guidelines to effectively support CSR practice in Nigeria. This study, haven identified the lack of CSR institutional framework attempts to develop an ethically-driven CSR transparency benchmark laced within a regulatory framework based on international best practices. The research adopts a qualitative methodology and makes use of primary data collected through semi-structured interviews conducted across the six core states of the Niger Delta Region. More importantly, the study adopts an inductive, interpretivist philosophical paradigm that reveal deep phenomenological insights into what local communities, civil society and government officials consider as good ethical benchmark for responsible CSR practice by organizations. The institutional theory provides for the main theoretical foundation, complemented by the stakeholder and legitimacy theories. The Nvivo software was used to analyze the data collected. This study shows that ethical responsibility is lacking in CSR practice by firms in the Niger Delta Region of Nigeria. Furthermore, findings of the study indicate key issues of environmental, health and safety, human rights, and labour as fundamental in developing an effective CSR practice guideline for Nigeria. The study has implications for public policy formulation as well as managerial perspective.Keywords: corporate social responsibility, CSR, ethics, firms, Niger-Delta Swampland, Nigeria
Procedia PDF Downloads 10621 Including Local Economic and Anthropometric Parameters in the Design of an Stand up Wheelchair
Authors: Urrutia Fernando, López Jessica, Sánchez Carlos, San Antonio Thalía
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Ecuador, as a signatory country of the convention of the rights of persons with disabilities (CRPD) has, in the recent years, strengthened the structures and legal framework required to protect this minority comprised of 13.2% of its total population. However, the reality is that this group has disproportionately low earnings and low educational attainment in comparison with the general population. The main struggles, to promote job placement of wheelchairs users, are environmental discrimination caused by accessibility in structures and transportation, this mainly due to the cost, for private and public entities, of performing the reasonable accommodation they require. It is widely known that product development and production is needed to support effective implementation of the CRPD and that walking and standing are the major life activities, in this context the objective of this investigation is to promote job placement of wheelchair user in the province of Tungurahua by means of the design, production and marketing of a customized stand up wheelchair. Exploratory interviews and measurements were performed in a representative sample of working age wheelchairs users that develop their disability after achieving their physical maturity and that are capable of performing professional activities with their upper limbs, this in order to detect the user’s preference and determine the local economic and anthropometric parameters to be included in the wheelchair design. The findings reveal factors that uniquely impact quality of life and development for people with a mobility disability within the context of the province, first that transportation is a big issue since public buses does not have accessibility for wheelchair users and the absence of curb cuts and the presence of trash bins over the sidewalks among other hinders an economic independent mobility, second that the proposal based in the idea of modifying the wheelchairs to make it able to overcome certain obstacles helps people in wheelchair to improve their independent living and by reducing the costs of modification for the employer could improve their chances of finding work.Keywords: anthropometrics, job placement, stand up wheelchair, user centered design
Procedia PDF Downloads 55520 A Study on the Relationship Between Adult Videogaming and Wellbeing, Health, and Labor Supply
Authors: William Marquis, Fang Dong
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There has been a growing concern in recent years over the economic and social effects of adult video gaming. It has been estimated that the number of people who played video games during the COVID-19 pandemic is close to three billion, and there is evidence that this form of entertainment is here to stay. Many people are concerned that this growing use of time could crowd out time that could be spent on alternative forms of entertainment with family, friends, sports, and other social activities that build community. For example, recent studies of children suggest that playing videogames crowds out time that could be spent on homework, watching TV, or in other social activities. Similar studies of adults have shown that video gaming is negatively associated with earnings, time spent at work, and socializing with others. The primary objective of this paper is to examine how time adults spend on video gaming could displace time they could spend working and on activities that enhance their health and well-being. We use data from the American Time Use Survey (ATUS), maintained by the Bureau of Labor Statistics, to analyze the effects of time-use decisions on three measures of well-being. We pool the ATUS Well-being Module for multiple years, 2010, 2012, 2013, and 2021, along with the ATUS Activity and Who files for these years. This pooled data set provides three broad measures of well-being, e.g., health, life satisfaction, and emotional well-being. Seven variants of each are used as a dependent variable in different multivariate regressions. We add to the existing literature in the following ways. First, we investigate whether the time adults spend in video gaming crowds out time spent working or in social activities that promote health and life satisfaction. Second, we investigate the relationship between adult gaming and their emotional well-being, also known as negative or positive affect, a factor that is related to depression, health, and labor market productivity. The results of this study suggest that the time adult gamers spend on video gaming has no effect on their supply of labor, a negligible effect on their time spent socializing and studying, and mixed effects on their emotional well-being, such as increasing feelings of pain and reducing feelings of happiness and stress.Keywords: online gaming, health, social capital, emotional wellbeing
Procedia PDF Downloads 4519 Efficacy of Mixed Actinomycetes against Fusarium Wilt Caused by Fusarium oxysporum f.sp. cubense
Authors: Jesryl B. Paulite, Irene Alcantara-Papa, Teofila O. Zulaybar, Jocelyn T. Zarate, Virgie Ugay
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Banana is one of the major fruits in the Philippines in terms of volume of production and export earnings. The Philippines export of fresh Cavendish banana ranked No.1 with 22% share. One major threat to the industry is Fusarium wilt caused by Fusarium oxysporum f. sp. cubense. It tops as a major concern today affecting the Philippine banana industry since 2002 up to the present in Mindanao. Because of environmental and health issues concerning the use of chemical pesticides in the control of diseases, utilization of microorganisms has been significant in recent years as a promising alternative. This study aims to evaluate the potential of actinomycetes to control Fusarium wilt in Cavendish banana. The in-vitro experiments was carried out in Complete Randomized Design (CRD) while field experiment was laid out in a Randomized Complete Block Design (RCBD) with three treatments and three replications. Actinomycetes were isolated from mangrove soils in areas in Quezon and Bataan, Philippines. A total of 199 actinomycetes were isolated and 82 actinomycetes showed activity against the local Fusarium oxysporum (Foc) by agar plug assay. The test for antagonisms (AQ6, AQ30, and AQ121) of three best isolates Foc to were selected inhibiting Foc by 21.0mm, 22.0mm and 20.5mm, respectively. The same actinomycetes inhibited well Foc Tropical Race 4 showing 24.6 mm, 20.2mm and 19.0 mm zones of inhibition by agar plug assay, respectively. Combinations of the three isolates yielded an inhibition of 13.5 mm by cup cylinder assay. These findings led to the formulation of the mixed actinomycetes as biocontrol agents against Foc. A field experiment to evaluate the formulated mixed actinomycetes against Foc in a Foc infested field in Kinamayan, Sto Tomas, Davao Del Norte, Philippines. was conducted. Results showed that preventive method of application of the mixed actinomycetes against Foc showed promising results. A 56.66% mortality was observed in control set-up (no biocontrol agent added) compared to 33.33% mortality in preventive method. Further validation of the effectiveness of the mixed actinomycetes as biocontrol agent is presently being conducted in Asuncion, Davao Del Norte, Philippines.Keywords: actinomycetes, biocontrol agents, cavendish banana, Fusarium oxysporum f. sp. cubense
Procedia PDF Downloads 57918 An Empirical Study of Gender, Expectations and Actual Experiences from Industrial Work Experience of Undergraduate Accounting Students in Selected Nigerian Universities
Authors: Obiamaka Nwobu, Samuel Faboyede, O. Oluseyi
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This study investigated the influence of gender on expectations and actual experiences from Industrial Work Experience, which is an aspect of the curriculum of undergraduate accounting students in selected Nigerian Universities. A survey research design was employed. Copies of a research questionnaire were made and administered to eighty (80) accounting students in selected Nigerian Universities who embarked on Students’ Industrial Work Experience Scheme (SIWES). Their expectations were juxtaposed with their actual experiences gleaned from the Industrial Work Experience. The data for the purpose of this study was analyzed using independent sample t-test. A total of fifteen (15) male and forty four (44) female students responded to the survey. This resulted in a response rate of 73.8 per cent. The results of this study indicated that there was no significant difference in the expectation of male and female undergraduate accounting students that the internship experience will be able to prepare them for an accounting career in the future, impart relevant knowledge, relate theories to work environment, enhance knowledge in financial accounting, cost accounting, accounting software, and general practice of accounting; prepare financial statements, interpret financial statements, develop problem solving skills, communication skills, and interpersonal skills; improve personal confidence and self-esteem, increase exposure to latest technology in the workplace, build rapport and networks, provide earnings, job experience, provide information and experience to choose career path. Furthermore, findings from the survey showed that there were differences in the expectations of students and their actual experiences with respect to their ability to relate theories to work environment, enhance knowledge in financial accounting, cost accounting, accounting software and exposure to latest technology in the workplace. The study only examined the perceptions of students from two Universities in South-West Nigeria. The research instrument used in this study can be administered to undergraduate accounting students in other universities in Nigeria. The Industrial Work Experience Scheme for undergraduate accounting students should be highly encouraged by tertiary institutions in Nigeria. This will ultimately make the students well prepared for a career in accounting.Keywords: gender, expectations, actual experiences, industrial work experience
Procedia PDF Downloads 25917 Copyright Infringement for Academic Authorship in Uganda: Implications on Exemptions of Fair Use for Educational Purposes in Universities
Authors: Elisam Magara
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Like any other property, Intellectual Property (IP) must be regarded, respected, and remunerated to address the historical, ethical, economical and informational needs of society. Article 26 of the Constitution of the Republic of Uganda 1995, the Copyright and Neighbouring Rights (CNR) Act 2006 and CNR Regulations 2010 guide copyright protection in Uganda. However, an unpredictable environment has negatively impact on certain author/intellectual freedoms; and the infringements on academic works that affect the economic rights of authors that limit authors from fully enjoying the benefits of authorship. Notwithstanding the different licensing systems and copyright protection avenues, educational institutions and custodians of copyright works (libraries, archives) have continued to advocate for open access to information resources, under the legal exceptions of fair use for educational purposes. Thus, a study was conducted in educational institutions, libraries and archives in Uganda to assess the state of copyright infringement in Uganda in an increased use of academic authored works. The study attempted to establish the nature and forms of Copyright Infringement, the circumstances for copyright infringement, assessed the opinions from the custodians on strategies for balancing copyright protection for economic and moral gains by authors and increased access to information for educational purposes and fair-use. Through a survey, using a self-administered questionnaire, interviews and physical visits, the study was conducted in higher education institutions, libraries and archives among the officers that manage and keep copyright works. It established that the uncontrolled reproduction of copyright works in educational institutions and information institutions, have contributed copyright infringement robbing authors of their potential economic earnings and limiting their academic innovativeness and creativity. The study also established that lack of consciousness and awareness on copyright issues by lecturers, universities and libraries has made copyright works in Universities highly susceptible to copyright infringement. Thus the increased access to materials without restrictions has resulted in copyright infringement among the educational institutions, libraries and archives. A strategic alliance by the collecting Society (Uganda Reproduction Rights Organisation (URRO), government, Universities and right holders organisations (UTANA) to work together and institute a programme to address copyright protection and access to information is pertinently required.Keywords: access to information, academic Writing, copyright, copyright infringement, copyright protection, exemptions of fair use, intellectual property rights
Procedia PDF Downloads 45216 Gender Considerations and Entrepreneurship Development in Nigeria
Authors: Tirimisiyu Olaide Gbadamosi
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Individuals go into business for the sake of obtaining regular income, becoming self-employed. Although, there different kinds of business enterprises that female and male can go into, often times, some businesses are regarded more suitable for a particular sex and not the other. This means that there is some gender discrimination in the choice of business one goes into and by extension in entrepreneurship development. Apparently, gender attitudes and behaviors will have positive or negative effects on entrepreneurship development in a society or economy. This research work therefore intends to take a critical look at gender discrimination as they affect entrepreneurship development with particular reference to northern Nigeria in general, using Exceptional Production Services Limited Kaduna, Kaduna North Local Government area as a case study, and also to suggest the possible solution to unidentified problems and give recommendation where necessary. Statement of research problem: Entrepreneurship has generally been recognised as a good medium or strategy for economic development of an individual, a community and a nation. It is also a known a known fact that some gender discrimination are often used in the choice of business or even the decision to go into business. For example, some businesses are regarded as more suitable to men than women. The question here is, is this the right approach to economic development through entrepreneurship? Of what effect is this approach to entrepreneurship development? These and the other questions are what this research intends to find answers to and if possible make recommendations. Significance of the study: The findings of this study will provide a guide for anyone for the establishment of a business in Nigeria. The study will help any prospective entrepreneur to make the right decision of which business to go into and how to contend with gender related issues that might influence its success in business. Furthermore, it is hoped that the study will assist the government and her agencies in the process in developing entrepreneurship development programs. Conclusion: There has been growing recognition that various types of discrimination do not always affect women and men in the same way. Moreover, gender discrimination may be intensified and facilitated by all other forms of discrimination. It has been increasingly recognized that without gender analysis of all forms of discrimination in business, including multiple forms of discrimination, and, in particular, in this context, related intolerance, violations of the human rights of women might escape detection and remedies to address racism may also fail to meet the needs of women and girls. It is also important that efforts to address gender discrimination incorporate approaches to the elimination of all forms of discrimination. Recommendation: Campaigning and raising awareness among young men and women, parents, teachers and employers about gender stereotypical attitudes towards academic performances and the likely consequences of overall educational choices for employment and entrepreneurship opportunities, career progression and earnings.Keywords: entrepreneurship, economic development, small medium enterprises, gender discrimination
Procedia PDF Downloads 38515 Internal Financing Constraints and Corporate Investment: Evidence from Indian Manufacturing Firms
Authors: Gaurav Gupta, Jitendra Mahakud
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This study focuses on the significance of internal financing constraints on the determination of corporate fixed investments in the case of Indian manufacturing companies. Financing constraints companies which have less internal fund or retained earnings face more transaction and borrowing costs due to imperfections in the capital market. The period of study is 1999-2000 to 2013-2014 and we consider 618 manufacturing companies for which the continuous data is available throughout the study period. The data is collected from PROWESS data base maintained by Centre for Monitoring Indian Economy Pvt. Ltd. Panel data methods like fixed effect and random effect methods are used for the analysis. The Likelihood Ratio test, Lagrange Multiplier test, and Hausman test results conclude the suitability of the fixed effect model for the estimation. The cash flow and liquidity of the company have been used as the proxies for the internal financial constraints. In accordance with various theories of corporate investments, we consider other firm specific variable like firm age, firm size, profitability, sales and leverage as the control variables in the model. From the econometric analysis, we find internal cash flow and liquidity have the significant and positive impact on the corporate investments. The variables like cost of capital, sales growth and growth opportunities are found to be significantly determining the corporate investments in India, which is consistent with the neoclassical, accelerator and Tobin’s q theory of corporate investment. To check the robustness of results, we divided the sample on the basis of cash flow and liquidity. Firms having cash flow greater than zero are put under one group, and firms with cash flow less than zero are put under another group. Also, the firms are divided on the basis of liquidity following the same approach. We find that the results are robust to both types of companies having positive and negative cash flow and liquidity. The results for other variables are also in the same line as we find for the whole sample. These findings confirm that internal financing constraints play a significant role for determination of corporate investment in India. The findings of this study have the implications for the corporate managers to focus on the projects having higher expected cash inflows to avoid the financing constraints. Apart from that, they should also maintain adequate liquidity to minimize the external financing costs.Keywords: cash flow, corporate investment, financing constraints, panel data method
Procedia PDF Downloads 24114 Tiebout and Crime: How Crime Affect the Income Tax Capacity
Authors: Nik Smits, Stijn Goeminne
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Despite the extensive literature on the relation between crime and migration, not much is known about how crime affects the tax capacity of local communities. This paper empirically investigates whether the Flemish local income tax base yield is sensitive to changes in the local crime level. The underlying assumptions are threefold. In a Tiebout world, rational voters holding the local government accountable for the safety of its citizens, move out when the local level of security gets too much alienated from what they want it to be (first assumption). If migration is due to crime, then the more wealthy citizens are expected to move first (second assumption). Looking for a place elsewhere implies transaction costs, which the more wealthy citizens are more likely to be able to pay. As a consequence, the average income per capita and so the income distribution will be affected, which in turn, will influence the local income tax base yield (third assumption). The decreasing average income per capita, if not compensated by increasing earnings by the citizens that are staying or by the new citizens entering the locality, must result in a decreasing local income tax base yield. In the absence of a higher level governments’ compensation, decreasing local tax revenues could prove to be disastrous for a crime-ridden municipality. When communities do not succeed in forcing back the number of offences, this can be the onset of a cumulative process of urban deterioration. A spatial panel data model containing several proxies for the local level of crime in 306 Flemish municipalities covering the period 2000-2014 is used to test the relation between crime and the local income tax base yield. In addition to this direct relation, the underlying assumptions are investigated as well. Preliminary results show a modest, but positive relation between local violent crime rates and the efflux of citizens, persistent up until a 2 year lag. This positive effect is dampened by possible increasing crime rates in neighboring municipalities. The change in violent crimes -and to a lesser extent- thefts and extortions reduce the influx of citizens with a one year lag. Again this effect is diminished by external effects from neighboring municipalities, meaning that increasing crime rates in neighboring municipalities (especially violent crimes) have a positive effect on the local influx of citizens. Crime also has a depressing effect on the average income per capita within a municipality, whereas increasing crime rates in neighboring municipalities increase it. Notwithstanding the previous results, crime does not seem to significantly affect the local tax base yield. The results suggest that the depressing effect of crime on the income basis has to be compensated by a limited, but a wealthier influx of new citizens.Keywords: crime, local taxes, migration, Tiebout mobility
Procedia PDF Downloads 30713 The Effect of Corporate Governance to Islamic Banking Performance Using Maqasid Index Approach in Indonesia
Authors: Audia Syafa'atur Rahman, Rozali Haron
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The practices of Islamic banking are more attuned to the goals of profit maximization rather than obtaining ethical profit. Ethical profit is obtained from interest-free earnings and to give an impact which benefits to the growth of society and economy. Good corporate governance practices are needed to assure the sustainability of Islamic banks in order to achieve Maqasid Shariah with the main purpose of boosting the well-being of people. The Maqasid Shariah performance measurement is used to measure the duties and responsibilities expected to be performed by Islamic banks. It covers not only unification dimension like financial measurement, but also many dimensions covered to reflect the main purpose of Islamic banks. The implementation of good corporate governance is essential because it covers the interests of the stakeholders and facilitates effective monitoring to encourage Islamic banks to utilize resources more efficiently in order to achieve the Maqasid Shariah. This study aims to provide the empirical evidence on the Maqasid performance of Islamic banks in relation to the Maqasid performance evaluation model, to examine the influence of SSB characteristics and board structures to Islamic Banks performance as measured by Maqasid performance evaluation model. By employing the simple additive weighting method, Maqasid index for all the Islamic Banks in Indonesia within 2012 to 2016 ranged from above 11% to 28%. The Maqasid Syariah performance index where results reached above 20% are obtained by Islamic Banks such as Bank Muamalat Indonesia, Bank Panin Syariah, and Bank BRI Syariah. The consistent achievement above 23% is achieved by BMI. Other Islamic Banks such as Bank Victoria Syariah, Bank Jabar Banten Syariah, Bank BNI Syariah, Bank Mega Syariah, BCA Syariah, and Maybank Syariah Indonesia shows a fluctuating value of the Maqasid performance index every year. The impact of SSB characteristics and board structures are tested using random-effects generalized least square. The findings indicate that SSB characteristics (Shariah Supervisory Board size, Shariah Supervisory Board cross membership, Shariah Supervisory Board Education, and Shariah Supervisory Board reputation) and board structures (Board size and Board independence) have an essential role in improving the performance of Islamic Banks. The findings denote Shariah Supervisory Board with smaller size, higher portion of Shariah Supervisory Board cross membership; lesser Shariah Supervisory Board holds doctorate degree, lesser reputable scholar, more members on board of directors, and less independence non-executive directors will enhance the performance of Islamic Banks.Keywords: Maqasid Shariah, corporate governance, Islamic banks, Shariah supervisory board
Procedia PDF Downloads 24012 The Impact of Information and Communications Technology (ICT)-Enabled Service Adaptation on Quality of Life: Insights from Taiwan
Authors: Chiahsu Yang, Peiling Wu, Ted Ho
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From emphasizing economic development to stressing public happiness, the international community mainly hopes to be able to understand whether the quality of life for the public is becoming better. The Better Life Index (BLI) constructed by OECD uses living conditions and quality of life as starting points to cover 11 areas of life and to convey the state of the general public’s well-being. In light of the BLI framework, the Directorate General of Budget, Accounting and Statistics (DGBAS) of the Executive Yuan instituted the Gross National Happiness Index to understand the needs of the general public and to measure the progress of the aforementioned conditions in residents across the island. Whereas living conditions consist of income and wealth, jobs and earnings, and housing conditions, health status, work and life balance, education and skills, social connections, civic engagement and governance, environmental quality, personal security. The ICT area consists of health care, living environment, ICT-enabled communication, transportation, government, education, pleasure, purchasing, job & employment. In the wake of further science and technology development, rapid formation of information societies, and closer integration between lifestyles and information societies, the public’s well-being within information societies has indeed become a noteworthy topic. the Board of Science and Technology of the Executive Yuan use the OECD’s BLI as a reference in the establishment of the Taiwan-specific ICT-Enabled Better Life Index. Using this index, the government plans to examine whether the public’s quality of life is improving as well as measure the public’s satisfaction with current digital quality of life. This understanding will enable the government to gauge the degree of influence and impact that each dimension of digital services has on digital life happiness while also serving as an important reference for promoting digital service development. The content of the ICT Enabled Better Life Index. Information and communications technology (ICT) has been affecting people’s living styles, and further impact people’s quality of life (QoL). Even studies have shown that ICT access and usage have both positive and negative impact on life satisfaction and well-beings, many governments continue to invest in e-government programs to initiate their path to information society. This research is the few attempts to link the e-government benchmark to the subjective well-being perception, and further address the gap between user’s perception and existing hard data assessment, then propose a model to trace measurement results back to the original public policy in order for policy makers to justify their future proposals.Keywords: information and communications technology, quality of life, satisfaction, well-being
Procedia PDF Downloads 35411 The Impacts of Export in Stimulating Economic Growth in Ethiopia: ARDL Model Analysis
Authors: Natnael Debalklie Teshome
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The purpose of the study was to empirically investigate the impacts of export performance and its volatility on economic growth in the Ethiopian economy. To do so, time-series data of the sample period from 1974/75 – 2017/18 were collected from databases and annual reports of IMF, WB, NBE, MoFED, UNCTD, and EEA. The extended Cobb-Douglas production function of the neoclassical growth model framed under the endogenous growth theory was used to consider both the performance and instability aspects of export. First, the unit root test was conducted using ADF and PP tests, and data were found in stationery with a mix of I(0) and I(1). Then, the bound test and Wald test were employed, and results showed that there exists long-run co-integration among study variables. All the diagnostic test results also reveal that the model fulfills the criteria of the best-fitted model. Therefore, the ARDL model and VECM were applied to estimate the long-run and short-run parameters, while the Granger causality test was used to test the causality between study variables. The empirical findings of the study reveal that only export and coefficient of variation had significant positive and negative impacts on RGDP in the long run, respectively, while other variables were found to have an insignificant impact on the economic growth of Ethiopia. In the short run, except for gross capital formation and coefficients of variation, which have a highly significant positive impact, all other variables have a strongly significant negative impact on RGDP. This shows exports had a strong, significant impact in both the short-run and long-run periods. However, its positive and statistically significant impact is observed only in the long run. Similarly, there was a highly significant export fluctuation in both periods, while significant commodity concentration (CCI) was observed only in the short run. Moreover, the Granger causality test reveals that unidirectional causality running from export performance to RGDP exists in the long run and from both export and RGDP to CCI in the short run. Therefore, the export-led growth strategy should be sustained and strengthened. In addition, boosting the industrial sector is vital to bring structural transformation. Hence, the government has to give different incentive schemes and supportive measures to exporters to extract the spillover effects of exports. Greater emphasis on price-oriented diversification and specialization on major primary products that the country has a comparative advantage should also be given to reduce value-based instability in the export earnings of the country. The government should also strive to increase capital formation and human capital development via enhancing investments in technology and quality of education to accelerate the economic growth of the country.Keywords: export, economic growth, export diversification, instability, co-integration, granger causality, Ethiopian economy
Procedia PDF Downloads 7710 The Impact of the Global Financial Crisis on the Performance of Czech Industrial Enterprises
Authors: Maria Reznakova, Michala Strnadova, Lukas Reznak
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The global financial crisis that erupted in 2008 is associated mainly with the debt crisis. It quickly spread globally through financial markets, international banks and trade links, and affected many economic sectors. Measured by the index of the year-on-year change in GDP and industrial production, the consequences of the global financial crisis manifested themselves with some delay also in the Czech economy. This can be considered a result of the overwhelming export orientation of Czech industrial enterprises. These events offer an important opportunity to study how financial and macroeconomic instability affects corporate performance. Corporate performance factors have long been given considerable attention. It is therefore reasonable to ask whether the findings published in the past are also valid in the times of economic instability and subsequent recession. The decisive factor in effective corporate performance measurement is the existence of an appropriate system of indicators that are able to assess progress in achieving corporate goals. Performance measures may be based on non-financial as well as on financial information. In this paper, financial indicators are used in combination with other characteristics, such as the firm size and ownership structure. Financial performance is evaluated based on traditional performance indicators, namely, return on equity and return on assets, supplemented with indebtedness and current liquidity indices. As investments are a very important factor in corporate performance, their trends and importance were also investigated by looking at the ratio of investments to previous year’s sales and the rate of reinvested earnings. In addition to traditional financial performance indicators, the Economic Value Added was also used. Data used in the research were obtained from a questionnaire survey administered in industrial enterprises in the Czech Republic and from AMADEUS (Analyse Major Database from European Sources), from which accounting data of companies were obtained. Respondents were members of the companies’ senior management. Research results unequivocally confirmed that corporate performance dropped significantly in the 2010-2012 period, which can be considered a result of the global financial crisis and a subsequent economic recession. It was reflected mainly in the decreasing values of profitability indicators and the Economic Value Added. Although the total year-on-year indebtedness declined, intercompany indebtedness increased. This can be considered a result of impeded access of companies to bank loans due to the credit crunch. Comparison of the results obtained with the conclusions of previous research on a similar topic showed that the assumption that firms under foreign control achieved higher performance during the period investigated was not confirmed.Keywords: corporate performance, foreign control, intercompany indebtedness, ratio of investment
Procedia PDF Downloads 3339 Investigating Income Diversification Strategies into Off-Farm Activities Among Rural Households in Ethiopia
Authors: Kibret Berhanu Getinet
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Off-farm income diversification by farm rural households has gained the attention of researchers and policymakers due to the fact that agriculture failed to meet the needs of people in developing countries like Ethiopia. The objective of this study was to investigate income diversification strategies into off-farm activities among rural households in Hawassa Zuria Woreda, Sidama National Regional State, Ethiopia. The study used primary and secondary data sources for the primary data collection questionnaire employed as a data collection instrument. A multistage sampling technique was used to collect data from a total of 197 sample households from four kebeles of the study area. Descriptive statistics, as well as econometrics methods of data analysis, were employed. The descriptive statistics result indicates that the majority of sample rural households (68.53 %) have engaged in off-farm income diversification activities while the remaining 31.47% of households did not participate in the diversification in the study area. The choice of participants among the strategies indicates that 6.60% of respondents participated in off-farm wage employment, 30.46% participated in off-farm self-employment, and about 31.47% of them participated in both off-farm wage employment. The study revealed that the share of off-farm income in total annual earnings of households was about 48.457%, and thus, the off-farm diversification significantly contributes to the rural household income. Moreover, binary and multinomial logistic regression models were employed to identify factors that affect the participation and the choices of the off-farm income diversification strategies, respectively. The binary logit model result indicated that agro-ecological zone, education status of the households, available technical skills of the household, household saving, total livestock owned by the households, access to electricity, road access and being married of household head were significant and positively affected the chance of diversification in off-farm activities while the on-farm income of households is negatively affected the chance of diversification. Similarly, the multinomial logistic regression model estimate revealed that agroecological zone, on-farm income, available technical skills, household savings, and access to electricity are positively related and significantly influenced the household’s choice of employment into off-farm wage employment. The off-farm self-employment diversification choice is significantly influenced by on-farm income, available technical skills, household savings, total livestock owned, and access to electricity. Moreover, the result showed that the factors that affect the choice of farm households to engage in both off-farm wage and self-employment are ecological zone, education status, on-farm income, available technical skills, household own saving, market access, total livestock owned, access to electricity and road access. Thus, due attention should be given to addressing the demographic, socio-economic, and institutional constraints to strengthen off-farm income diversification strategies to improve the income of rural households.Keywords: off-farm, incoem, diversification, logit model
Procedia PDF Downloads 53