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Journal of Economics Finance and Management Studies

Journal Papers (41) Details Call for Paper Manuscript submission Publication Ethics Contact Authors' Guide Line
1 Assessment of Disclosure of Financial Information of Selected Insurance Companies in Bangladesh with IASS and IFRSs , Md. Mirajur Rahman
This paper reviews on the assessment of disclosure of financial information in annual reports of selected insurance companies in Bangladesh and discusses the level disclosures with IASs and IFRSs. Increasingly, the credibility of the annual report does not rely so much on the requirement for the measurement to be accurate, but, to start with, on the relevance of the chosen indicators. The purpose of this study is to identify content analysis using IASs and IFRSs Disclosure to understand more about the effectiveness of financial reporting. Effective financial reporting disclose required information that measures the strength of any company. In order to remove the asymmetry of accounting information worldly, this study has been focused on to analyze getting the actual scenario of disclosure with IFRSs and benefits of fully application of its for insurance companies. Assessing the reports of selected insurance companies, it was seen that the most insurance companies have poor application of IFRSs Disclosure. With the evidence, this study has tried to present the scenario of disclosure with IFRSs in annual reports.
2 Effect of Organizational Downsizing on Job Satisfaction of Surviving Employees at Vodafone Ghana , Isaac Nti Ofori Ph.D, Ifediba Margaret-Mary, C, Onyeaghala Obioma H, Ph.D and Bruce Zilpah
This study is aimed at investigating the effect of downsizing on the job satisfaction of surviving employees at Vodafone branch, Ghana. The study specially sought to find out if there was any sex, job status or age differences in job satisfaction among survivors of downsizing at Vodafone Ghana. This research employed the survey research approach. The study population included the staff of Vodafone Ghana, Osu branch. A total of 68 respondents were drawn from various departments of the organization out of 97 for the study using convenience as well as purposive sampling techniques. A Likert scale-typed questionnaire was used with responses ranging from strongly disagree, disagree, Uncertain, agree and strongly agree. Quantitative data analysis was done using computer software: Ms Excel and SPSS. Data collected was analyzed using both interpretive and statistical methods. In all, the study tested three hypotheses. Results of the study indicated that, there were no gender differences in job satisfaction among survivors of downsizing. Again, contrary to the hypothesis stated, age was not found to affect the job satisfaction of survivors of downsizing. However results of the study showed that survivors of downsizing experienced less job satisfaction than their senior counterparts. Based on the findings from the study, the following recommendations among others are put forward: For downsizing to be effective and strategically beneficial, an implementation plan must be in place. It is also recommended that management should involve employees in the process, and communicate comprehensively reasons for the downsizing. Further research on the effects of downsizing on survivors will serve to further refine the relationships as presented, or add data sufficient to assess those variables not used in this study and in addition, may identify new variables not currently identified as potentially relevant to downsizing.
3 Relationship between Export Diversification and Economic Growth, Case of Tunisia (1987-2015) , ALOUANI Ahmed, Ismahène ABID
If in the empirical literature, the postive relationship between divisification of exports and growth has been detected. However, this relationship does not always come out. As an indication and as we have argued, Michaely (1977), for example, has found a significant positive link between exports and economic growth only in the most developed countries. This was not the case in the least developed countries. In our study concerning Tunisia, we concluded that this relationship, indeed, exists. In this study we chose as period: 1987-2015. On the econometric side, we used the co-integration method. According to the results of the analysis, we found that exports, especially agricultural exports, have a positive effect on long-term growth. Hence, investments in the production of exportable agricultural goods must be encouraged.
4 Performance Mea surement Systems in Quick Service Restaurant Chains , Dr. Muhammad abd elmonem ebrahem abdelsalam, Remon Samir Fouad
Measuring performance becomes a key issue in both academia and business, as organizations are challenged to obtain efficient and effective outcomes. This research explores the effectiveness of current PMSs in QSR chains. This research also identifies best practices and proposes a set of recommendations for QSR chains enabling them to enhance their management practices towards the proper use of PMSs to achieve their strategic plan and accomplish their objectives. To achieve this aim a self-administrated questionnaire was directed to a random sample of restaurant managers in the investigated QSR chains. A number of 200 forms was distributed, among them 124 forms (62%) were completed and valid for analysis. The major findings showed that the BSC and the KPIs systems are widely used by QSR chains and those were classified as systems that can be easily adapted to service organizations. Moreover, the results showed that the major barrier for implementing the PMS in QSR chains is the lack of employee and management support.
5 Context of Organization and its Scientific Approach , Mr. Kenan Spaho
The topic of this paper is context of organization as a new element of international standard for quality management ISO 9001:2015. By applying a scientific approach, we presented some key elements of internal and external context of organization. From the point of view of internal context, we defined the following elements: organizational structure, leadership styles, and organizational culture. From the point of view of external context, we focused on stakeholder relationship.
6 Malaysia National Education Blueprint: An Overview on the Policy of Recruitment and Selection of Teachers , Syed MuhamadUbaidillah bin Syed Husin
The purpose of this study was to explore the policy of recruitment and selection of teachers and their impacts on organizational performance.It was to find out the impacts and the challenges associated with the poor teacher recruitment and selection practice and ways to help improve human resource planning and development. High turnover, teacher quality, retraining of teacher and organization’s goals were amongst the issues. Special reference was given to the latest Malaysia’s educational policy - Malaysia National Education Blueprint (2013-2025) (MNEB). The study tries to answer three questions namely; Why the Blueprint has included human resource management (HRM) in its transformation program as one of the key initiatives?How far is the influence of Teachers’ Unions in the making of Human Resource policy in education and to what extent the existing recruitment and selection policy has given impacts to the country’s educational system?.
7 Proposition of a Macro Health Index in the World , Rodrigue N Tchoffo, Dany T Dombou , Achille T Tanga , Guivis Z Nkemgha
This article provides an aggregated indicator of health in the world from a macroeconomic perspective. Using World Bank Data Based on a sample of 178 countries and regions covering the period 1995-2014, we adopt the principal component analysis (PCA) to estimate the new indicator. The main results are as follows: the new indicator belongs to -5.375 and 4.239, where -5.375 is the score recorded by the worst-ranked country while 4.239 is the highest score recorded. In 2014, 69% of the sample have an index greater than the average of zero because of the normalization of data in ACP. The remaining 31% are mainly found in Africa, mostly in the Sub-Saharan regions.
8 Democratic Republic of Congo and Crisis of Leadership (2016-2018) , Jibrin Ubale Yahaya, PhD, Musa Mohammed Bello
Democratic Republic of the Congo (DRC) has experience some leadership crisis since the time it gains its independence in 1960, the country’s leadership has been lacking three attributes of the utmost importance to the attaining of development which has temper with a real vision for the DRC’s future, which includes lack of competence and inability to execute the vision, and the character needed to ensure the realization of the vision with sound judgment, integrity, and equity. The paper has a finding from the literature reviewed on the DRC’s past patterns of poor governance, a clear and practical vision for the country’s future was not articulated and implemented, which has failed in developing concerted effort from a new and energized leadership that can move the Congo to the next level of development and prosperity. The paper has of the view that Congo must open up for various opportunities and avenues for reform in revamping democratic governance and electoral reform, promoting economic growth by moving beyond aid and creating a favorable environment for investment, reforming the mining sector, improving the health and education systems, and strengthening the DRC’s judiciary. The county needs leaders who are committed towards developing DRC. Secondly, well-organized and invigorated Congolese Diaspora must join hands with Congolese living in the DRC to work toward the reforms.
9 The Determinants of Customer Satisfaction in Business-To-Consumer: A Multidimensional Approach Applied to Mobile Telephony Services in the Cameroonian Context , Nguebang tazangmo hervé francis, Douanla jean, Tchoffo tameko gautier
This exploration is part of a logic of continuous improvement in customer satisfaction. The aim is to determine the explanatory factors of customer satisfaction in business-to-consumer of mobile telephony services in the Cameroonian context. The documentary research made it possible to identify the theoretical approach. A sample survey helped in the methodological approach to data collection via a questionnaire administered to a convenience sample made up of 399 mobile phone subscribers. The structural equation model for testing hypotheses is used and the results show that the processing of customer complaints and the perceived quality of service better explain the overall customers satisfaction in business-to-consumer in the Cameroonian context.
10 Rethinking Error Correction Model in Macroeconometric analysis: A Relevant Review , Christian P. Pinshi
The cointégration methodology has bridged the growing gap between economists and econometricians in understanding dynamics, equilibrium and bias on the reliability of macroeconomic and financial analysis, which is subject to nonstationary behavior. This paper proposes a comprehensive literature review on the relevance of the error correction model. Econometricians and economists have shown that error-correction model is a powerful machine that provides the economic system and macroeconomic policy with a refinement in the econometric results1.
11 COVID-19 Uncertainty and Monetarypolicy , Christian P. Pinshi
The COVID-19 pandemicis influencing the management of monetarypolicy in its role as regulator of aggregate demand and guarantor of macroeconomicstability. We use a Bayesian VAR framework (BVAR) to provide an analysis of the COVID-19 uncertainty shock on the economy and monetarypolicy response. This analysis shows important conclusions. The uncertainty effect of COVID-19 hits unprecedented aggregate demand and the economy. In addition, it undermines monetary policy action to soften this fall in aggregate demand and curb inflation impacted by the exchange rate effect. We suggest a development of unconventional devices for a gradual recovery of the economy.
12 Free Trade Agreements: Opportunity or Threat to the Moroccan Economy? , Daifi Sara, Lemkadem Ilyas, Echaoui Abdellah
The world has witnessed a gradual Evolution of international trade for about a century. Since the establishment of the World Trade Organization (WTO) in 1995, trade openness has become an inevitable choice for countries in various Sectors of activity. In this work, we will identify the impact of globalization on the Moroccan economy. Starting from the processed data, we can conclude that leaves Trade Liberalization many doubts as to the attainment of the objective of free trade expected. Rather it is the partner countries of Morocco that benefit from it. And in order to remedy this situation it is Necessary to analyze the Conditions That Increase this gain by exploring the limits of the growth potential of the national economy.
13 Evaluation of the Firm Performance: Evidence from Food Firms Listed in the Hanoi Stock Exchange , Tran Thi Hoang Mai, Nguyen Thị Hai Yen, Nguyen Van Thu
The main objective of this study was to identify, evaluate, and to measure the attributes of the firm performance of Food Firms Listed in the Hanoi Stock Exchange (HNX). The study was based on professional interviews and by collecting data on ROA, ROE and ROS targets from 2015 to 2019 of 15 food firms listed in the HNX. Data was collected from reputable websites such as cafef.vn, cophieu68.vn. By using several statistical analytical tools, i.e. Cronbach’s Alpha analysis, the study has ident ified and measured attributes of the firm performance of Food Firms. Based on the findings, some recommendations are given to improve the firm performance of Food Firms Listed in the HNX.
14 The Determinant of Underpricing Towards IPO Company at Indonesia Stock Exchange in 2019 , Ario Hestu Utomo, Augustina Kurniasih
This research aim to examine the influence from leverage, profitability, company size, and underwriter reputation towards level of underpricing on initial shares at Indonesia Stock Exchange in 2019. The population from this research was company who did IPO in 2019. The sample chosen by purposive sampling technique. So it was selected of 51 companies. Data collection was carried out by took data from company's financial statements from its official Indonesia Stock Exchange website. This analytical method used multiple linear regression analysis with Assist of Eviews program version 10. The results showed that leverage, profitability and underwriter reputation had no significant impact on underpricing of initial shares at Indonesia Stock Exchange in 2019, company size had significant and negative impact on underpricing of initial shares at Indonesia Stock Exchange in 2019.
15 A Proposed Factors of Social Media Advertisements Influencing Young Customers Brands Preference: Empirical Study , Professor Younes Megdadi, Dr.Mohammad Hammouri, Zaid Y.A.Megdadi
This study aims to investigate and testing the proposed factors of social media advertisements influencing young customers brand preferences. A number of e. marketing contributions to marketing management to understand these factors in order to redesign its online advertisements by social media to influence young customers for selecting their preferred products brands, .A number of proposed factors concerning social media advertisements namely privacy, creditability, entertainment, advertisements values, and reachability. Study sample consist of (400) young customers of both gender in private universities in Amman District. The study results show that the entertainment, privacy, creditability, entertainment, values and reachability are a major social media advertisements factors influencing young customer's products brands preferences.
16 Transmission Mechanism of Monetary Policy in Nigeria: Investigating the Role of Interest Rate , Igweze Amechi H., Adetoba Olutope O., Dzaan Kumafan S., Mimiko Daniel O
Many studies on transmission mechanism of monetary policy only examine statistical relationship between policy variables and target variables. Most of these models may not be able to explain the pathway through which the monetary policies are transmitted. How monetary policy affects target goals can better be explained by chain and sequence of events known as path analysis. This paper tries to use mediation approach to assess the significance of causal path of monetary policy variables through the interest rate channel. The paper dwelt on the first transmission paths- from MPR to private sector credit through the interest rates. The Sobel test, which is one of the most widely used tests of indirect effect in simple mediation was employed in testing the significance of mediational path of the interest rate transmission mechanism of monetary policy. The results lay credence to effective and significant transmission of effects of monetary policy rates through maximum lending rate, interbank lending rate and treasury bill rate. These variables were found to be partial mediators in the transmission channel of interest rate. Only the prime lending rate was found not to significantly transmit the effect of monetary policy rate to private sector credit. The study concludes that the maximum lending rate path has the highest transmission effect of monetary policy rate. This is followed by the treasury bill interest rate path and the inter-bank call rate path respectively. The prime lending rate’s path was not significant at 5% level of significance. It is sacrosanct to also test if the private sector credit (PSC) can effectively transmits the effect from the maximum lending rate, inter-bank call rate and treasury bill interest rate to the target goals-inflation, output and unemployment in subsequent studies. These findings are new in the case of Nigeria as little or no studies have applied mediation approach to the study of transmission mechanism of monetary policy rate in Nigeria.
17 A Study on Selling Price of Luxury Apartments in Hanoi, Vietnam , Huu Cuong Nguyen, Duc Tai Do
The main purpose of this study is to empirically test the selling price of luxury apartments in Hanoi, Vietnam. The authors collected secondary data from previous studies, real estate firms in Hanoi. For this purpose, in this study we evaluated and analyzed selling prices of luxury apartments of real estate firms. The results of the research show that there are many differences in the selling price of luxury apartments. Based on the findings, some recommendations are given for real estate firms in Hanoi to improve the selling price of luxury apartments. This study will benefit the real estate firms in Hanoi in the improvement of their performance
18 A Study on Firm Performance of Construction Firms Listed in the Hanoi Stock Exchange , NguyenThi Xuan, Nguyen Dieu Linh, NguyenThị Thu Thao
Because of the effect of the world economy and national economy, construction firms Listed in the Hanoi Stock Exchange (HNX) are forced to improve firm performance to develop. This paper presents the firm performance of construction firms Listed in the HNX to adopt the evaluation and the measurement three (03) basic financial ratios, including: (i) Fixed asset turnover ratio (FAT), (ii) Total Asset Turnover Ratio (AT) and (iii) Equity turnover (ET). The authors collected secondary data from previous studies, construction firms Listed in the HNX for the period of 2015-2019. The results of the research show that the firm performance of construction firms has many limitations. This study will benefit the construction firms Listed in HNX in the improvement of their performance.
19 Macroeconomic Variables and Stock Returns Revisited , Feifei Wang
I revisit the relation between macroeconomic activities and stock prices by selecting the most important macroeconomic variables that are appropriate for analyzing their impact on stock returns. Using vector autogressive models (VAR), combined with co integration analysis and the vector error correction model (VECM) I estimate the explanatory power of each macroeconomic variable on the variations of the stock prices and distinguish the short-run from long-run movements among all key macroeconomic variables. I find that (1) in the short-run macroeconomic variables do not appear help explain changes in stock returns, (2) in the long-run the real interest rate and industrial production are the most important macroeconomic factors, and (3) in the long-term the real economic activity and stock returns Granger-cause each other.
20 Loan Portfolio Quality and Efficiency of Quoted Deposit Money banks in Nigeria , Gabriel,Femi Goodwill, Ameh O Jacob,
Banking world over is adjusting to profound changes following the backdrop of current economic downturn with its significant impact on global financial outlook. In the face of corona virus diseases 2019 (covid 19) pandemic, most entities including Banks are experiencing general economic conditions associated with financial market volatility and erosion, deteriorating credits and loan portfolio, liquidity concerns, further increases in government intervention, increasing unemployment and layoffs, broad declines in consumer discretionary spending, increasing inventory levels, and general reductions in production because of decreased demand. This study investigates loan portfolio quality and efficiency of Quoted Deposit Money Banks (DMBs) in Nigeria amidst these phenomena. The population of the study consists of all the quoted Deposit Money Banks in Nigeria with sample of selected8surviving Deposit Money Banks with international authorization in Nigeria as at December, 2019. Using data envelopment analysis. The findings of the study reveals that the percentage value of loan portfolio at risk (VaR) and compliance level to prudential provisioning has negative effect on the efficiency of Quoted Deposit Money banks in Nigeria. While Management response to early warning triggers of non-performing loan has a significant positive impact on efficiency but capital adequacy does not in any way determine how efficient Quoted Deposit Money Banks in Nigeria are performing. The study therefore, recommends that, the management of Quoted Deposit Money Banks in Nigeria should intensify efforts in monitoring their loan portfolio and put in place adjustable risk coverage mechanism for safeguarding the asset quality. The managements of the banks are also advised to strengthen internal credit policies that will screen out potential bad loans and build a healthy and recoverable loan portfolio.
21 Corporate Culture in the Accounting Service Firms in Hanoi -Application of Theory of Cameron & Quinn (1999) , Nguyen Hong Linh; Nguyen Thi Huong; Nguyen Huyen Linh; Thanh Thu Trang; Pham Thu Trang
The accountants in the accounting service firms in Hanoi all have a high level of education, an understanding of high socio-economic knowledge and a certain level of training can definitely show a culture commensurate with the level of knowledge of them.This research was conducted to measure the corporate culture in the accounting service firms in Hanoi based on theory of Cameron & Quinn (1999).Data were collected through a survey with 105 accountants fromaccounting service firms in HanoiHanoi. With this data, we have used Cronbach's Alpha, EFA and Anova analysis toidentify and measure twelve (12) attributes of corporate culture in the accounting service firms in Hanoi.The results showed that collaborate - clan culture is highly appreciated by accountants, playing a leading role, while the remaining attributes have a supporting role. Based on the findings, some recommendations are given to improve corporate culture in the accounting service firms in Hanoi.
22 Developing Sustainable World Class Local Supply Chain Ecosystem in India during the Corona Pandemic , Sandeep Ganpat Kudtarkar
During the ongoing crisis of corona pandemic, designing effective local sourcing programs supported by sound policies can make efficient and sustainable local supply chains for goods and services. Through their relationship with OEMs, local Suppliers shall get benefit of increased revenue, expansion in business operations, knowhow, technical and financial support resulting into sustainable growth of their businesses. The Corona pandemic poses a unique opportunity for India to fill the vacuum in global supply chain created due to negative global sentiments towards China and occupy significant pie in the global supply chain by getting its act together, thinking strategically and out of the box and implementing swiftly during and post corona. This study proposes a socio economic and technical framework to develop sustainable world class local supply chain ecosystem in India to come at the center stage of global supply chain.
23 Evolution of Foreign Direct Investment at the Level of Brics Economies , Anatol MELEGA
The main purpose of this research is to analyze the evolution of direct productive investments in the BRICS countries (Brazil, Russia, India, China, South Africa) and the investment cooperation of the group. The role of the BRICS economies in the political and economic spheres is growing, as they are currently the largest emerging economies and have achieved astonishing economic growth. Direct investment in production in the BRICS countries is an important factor in promoting the growth and development of member countries and promoting global economic integration.Strengthening the investment links of the BRICS group increases the level of trust between member countries, opening up new opportunities for cooperation. Trade and investment links between the BRICS economies create a synergy of development and growth by strengthening their position in the global economy and helping to solve domestic economic and social problems.
24 Corporate Governance Practices and the Performance of Selected PostConsolidated Nigerian Deposit Money Banks , Obafemi Tunde Olutokunbo, Shuaib Abdulbakar Adeade, Olaiya Abiola Lawal
The nature of the relationship between Corporate Governance (CG) practices and performance of Nigerian Deposit Money Banks (NDMBs) have yet to be clearly established in the extant literature regardless of the volume of studies. This study therefore examined the relationship between CG practices and the performance of post-consolidated NDMBs. The study adopted a panel research design. Secondary data sourced from annual reports and accounts of sampled NDMBs covering a period of ten (10) years (2010-2019) formed the only source of data for this study. The study population consisted of twenty-two listed NDMBs from where a sample of fourteen was randomly selected.CG proxied by Board Size (BS), CEO duality (CEOdu) and Performance proxied by Return on Equity (ROE) and Return on Asset (ROA) were analyzed using Panel regression The result revealed significant positive relationship between BS (ROE; β = 0.1509, at ρ = 0.0051,), CEOdu (ROE; β = 1.4656, at ρ = 0.0242, ROA; β = 0.6079, at ρ = 0.0060), respectively. The result further revealed negative but insignificant relationship between CG and performance (ROI; β = -0.0127, at ρ = 0.07971, ROA; β = -0.0043, at ρ = 0.7891). The study concluded that there is a correlation between CG variables and performance of NDMBs. The study therefore recommended that NDMBs should ensure that they are not only seen to maintain a clear cut separation of the roles of board Chairman and CEO as a matter of principle but should actually enforce it. In addition to this, they should not deviate from the present adherence to the provisions of the corporate governance practices as it relates to audit committee composition.
25 Influence of Internal Factors on the Financial Performances: An Empirical Study on Nigerian Deposit Money Banks , Shuaib Adeadebayo Abdulkabir, Obafemi Tunde Olutokunbo, Olaiya Abiola Lawal
This study examines the influence of internal factors on financial performance in Nigerian deposit money banks by using panel data of banks over the period 2009 to 2019. Since the data is secondary in nature, the quantitative approach to research was considered. Besides, the fixed effect model was used. The fixed effect model is preferred to the random effect model based on the Housman specification test. Under this study, internal and factors were examined. The internal factors used in this study include capital structure; Income Diversification, operating cost and bank size whereas, ROA and ROCE were used as the financial performance measure. Based on the regression result, all bank specific variables except bank size affect performance of the bank significantly but negatively. While based on correlation analysis, Bank size was positively correlated with ROCE. These clearly shows that, as the bank size increases, ROCE also moves on the same direction. On the other hand, the income diversification, capital structure and operating cost were negatively correlated with ROCE. Also, as the income diversification, capital structure and operating cost increases, ROCE moves in opposite direction. Moreover, the capital structure and the operating cost negatively correlated with ROA. This indicates that as capital structure increases, ROA moves to the opposite direction. On the other hand, income diversification and bank size were positively correlated with ROA. Based on the empirical findings, both capital structure and operating cost negatively and significantly affect performance measured by ROA and ROCE.
26 The Strategy of Rural Bank in the Face of the Industrial Era 4.0 , Mohammad Sofyan, Abdul Gofur
The rural bank is increasingly pressured by the presence of commercial banks, foreign banks of non-bank financial institutions that place massive financing in the microcredit sector and application-based financial transactions that facilitate and pamper consumers/customers. Government policies are needed to support and protect the existence of rural banks by equalization of their status in the equivalent of commercial banks in order to be more maximal in their intermediation functions, especially in the field of microcredit. The strategy that must be done by rural bank in facing the industrial era 4.0, is: implement a reliable Core Banking System (CBS). Cooperating with other rural bank and cooperating with fintech online credit distributors who are officially registered with the OJK are strengthened by regulations that support rural bank cooperation with fintech. Innovate in digital banking services by collaborating atm networks with commercial banks as well as collaboration to issue electronic money. Service innovation must be parallel with the improvement of management and internal in terms of integrity and attitude
27 Brand Image Laverage in Gaining Sustainability Marketing: Brand Experience as the Moderator , Siti Ning Farida, Nurul Azizah
Brand image is the essence of a product or organization promotion activity, which is always interesting to research. It doesn’t stop to the expectation that a brand image will be able to drive the sustainable marketing of an organization. State Defence is a brand of the National Development University “Veteran” East Java (UPNVJT) and becomes a unique identity, and needs to be explored to improve the role. The theoretical basis used in this research includes some antecedent variables including: brand experience, brand love and brand trust, and perceived usefullness to analyze brand image and sustainability marketing. Data collection was carried out by distributing questionnaire to all UPNvjt alumni and then 144 respondents were collected, the collected data is examined using smartPLS. The result of the hypothesis test shows that the brand image gives high influence toward the sustainability marketing, whereas brand image was strongly influenced by brand love and brand trust, and perceived usefullness.
28 Transmission Mechanism of Monetary Policy in Nigeria: Investigating the Role of Private Sector Credit , Musa U., Ndagwakwa D.W., Musa Y., Ita E.U.
This study examines the interest rate channel of monetary policy rates through private sector credits to prices. It applies an approach that is not common in monetary policy transmission mechanism in literature as many studies on transmission mechanism of monetary policy only examine statistical relationship between policy variables and target variables which may not be able to explain the pathway through which the monetary policies are transmitted. This paper uses mediation approach to assess the significance of causal path of interest rate through the bank lending channel. This paper dwelt on the transmission paths- from maximum interest rate, inter-bank call rate, treasury bill rate to pricesthrough the private sector credits. The findings of this study lay credence to effective and significant transmission effects of interest rates (maximum lending rate, interbank lending rate and treasury bill rate) through private sector credit to prices. The paper concludes that maximum lending rate path has the highest significant transmission effect to prices. This is followed by the treasury bill rate and the inter-bank call rate respectively. The findings in this study is new in the case of Nigeria as no previous studies have applied mediation approach to the study of transmission mechanism of bank lending channel in Nigeria. Central banks should explore ways to effectively make policy towards effectively directing the monetary policy through maximum lending rate and treasury bill rates as they have the most significant paths through which the monetary policy rate is transmitted to prices.
29 The Dynamics of Inflation Rates in a Consumer Driven Economy , Musa Umar, Akomolafe Abayomi, Adetoba Olutope, Ndagwakwa David, Dzaan Kumafan, Yussuf Tajudeen, Mimiko Daniel
The research was motivated by the conviction that inflation entails sizeable economic and social cost, and that for achieving a sustainable economic growth, management of inflation is a prerequisites. Co-integration and autoregressive error correction model approach was used to investigate the effect of money supply, fiscal deficits and export on the relative effectiveness of fiscal policy in Nigerian consumer driven economy. The study reveals there is a significant causal relationship between gross domestic product (GDP) and the variables considered in the research. The Granger causality outcomes demonstrate that there is no causality between money supply and inflation in Nigeria within the study period, meaning that there are different economic conditions that are key determinant of inflation in Nigeria. We conclude that fiscal policies have a significant influence on the output growth of the economy, and recommend that the Central Bank of Nigeria should guarantee an exchange rate stability and sound monetary surveillance, look inward for ways to regulate the interest rates that will encourage private and foreign investors to transform our consumer driven economy.
30 Can Global Trade Of Medical Supplies Solve The Covid-19 Puzzle? , Saber Adly Shaker, 
The main aim of this study to determine the explanatory variables of the Chinese exports of COVID-19 medical supplies to its 89 major trading partners in the first half of the year 2020. In addition, it explores the puzzle of COVID-19 pandemic outbreak from an economic perspective. We used the Ordinary-least-square (OLS) regression under a cross-sectional data framework to construct the quantitative analysis. The main findings are: First, the number of old population and the number of COVID-19 confirmed cases in the trading partner have been drivers of Chinese exports of COVID-19 medical supplies. Second, tariff barriers levied on the trading partner significantly impedes the Chinese exports of COVID-19 medical supplies to its trade partners, especially from middle-income countries. In future work, the analysis of this type of trade through the supply-side factors could be investigated. Also, some other variables such as non-tariff measures could be utilized. The study encourages literature for empirically analyzing the trade of medical supplies, in general, under econometric modeling. The results are illustrated based on consistent quantitative evidence.
31 , Shelamony Hafsa
Community-Based Tourism (CBT) is a tool to ensure sustainable development in many countries by enhancing natural resource conservation, preserving culture and traditions as well as generating income at local level. Bangladesh is one of the third world countries having scarcity of finance but they can increase their GDP through giving stress to tourism industry (Muhammad shamssuduha, 2005). Sreemangal is a naturally blessed place in Bangladesh which is enriched by its natural resources as well as local community’s rich unique cultures, traditions, history, living style and hospitality. This study is carried out to identify how Community-Based Tourism helps to promote the economic sustainability of rural economy in Sreemangal. Both primary and secondary data are collected and then primary data (collected from study area by using questionnaire survey) are analyzed by using SPSS software. After analyzing the data, it could be sum up that Community Based Tourism will help to ensure economic solvency of local community by creating employment opportunities for locals, to confirm the greater profit distribution among all stakeholders, to create new local markets for community’s unique tourism products, indirectly contribute in poverty reduction as well as educational rate and living standard enhancement. This study also dowries some recommendations based on the findings of the analysis.
32 The Effect of Market Orientation and Entrepreneurship Orientation to Competitive Advantage and Performance , Mirah Ayu Putri Trarintya, Ni Putu Yuliana Ria Sawitri, Luh Putu Virra Indah Perdanawati, I Made Santosa, Made Setini
This study aims to explain the effect market orientation, entrepreneurship orientation and competitive advantage on performance. The population in this study was all Micro, Small and Medium Enterprises enrolled in Bali. Samples taken based on probability sampling techniques are simple random sampling, where researchers provide equal opportunities for each member of the population (employees) to be chosen as samples randomly regardless of the strata in the population itself with a total sample of 100 enterprises. This examination tried by quantitative techniques with SEM-PLS investigation. The consequences of theory testing demonstrate that 1 of 5 speculations were dismissed. Market orientation not impacts on performance. Market orientation and business enterprise orientation has positive and significant impact to competitive advantage. Business orientation and competitive advantage has positive and significant impact to performance. The example utilized in this examination is restricted with regards to Micro Small and Medium Enterprise. Proposals for further research by including another variable that was not recently contemplated. Useful ramifications in this examination is industry administrators ought to adjust their CPMS to incorporate estimates explicit to intra-hierarchical business enterprise and development and should seek after more noteworthy comprehension of changing client inclinations. This examination offers performance to improve business orientation and item advancement with the goal that it will expand competitive advantage which effects on MSMEs performance.
33 Influence of Cost Efficiency on Performance of Nigerian Listed Deposit Money Banks , Adeyemi Wasiu ALABI, Adewale Joel ADEBISI, Kolawole FATIMEHIN
Cost efficiency is very important in this new age since profitability continue to shrink and new business is becoming almost impossible. Therefore, this study is to examine impact of cost efficiency on financial performance of Nigeria deposit money banks. The specific objectives of the study were to; (i) test the effects of efficiency in Fueling and maintenance costs on the performance of Nigerian deposit money banks; (ii) to examine the impact of efficiency in General Administrative expenses on the Performance of Nigerian deposit money banks. Secondary data were collected from annual financial statements of the selected banks. Fixed-effect and random-effect regression analysis method were used to analyze the data from a sample of 13 listed Nigerian deposit money banks covering period of 2010 to 2019. The results showed that cost efficiency have significant impact on financial performance of Nigerian deposit money banks. Implying that bank managements tend to increase profitability by increasing power-running cost efficiency, and by reducing general administrative cost efficiency. The study recommends that; Bank management need to tap into alternative source of energy and holistic approach to monitor wastages and theft of fuel to reduce power running cost for performance increasement. The board of directors should ensure that good business administration is their focus, by employing efficient control on administrative expenses to improve bank performance.
34 Factors Determining Adoption of Improved Wheat Varieties by Smallholder Farmers in Ethiopia , Daniel Hailu
The study determined the level and factors that influence adoption of improved wheat variety adoption among smallholder farmers in Ethiopia. The study used household level cross sectional data collected during 2015/16 cropping season. The survey involved 1611 smallholder farmers drawn by random selection from thirteen agro-ecologies in four regions in the country. The four regions represent 99.3% of the wheat growing areas, 99.6% of the wheat producer and 99.4% of the wheat production in the country. In the analyses, descriptive statistics and a Probit regression model were employed. A descriptive analysis shows that, 83.7% of the sample households were adopters and have grown at least one improved wheat variety during the production season. The econometric analyses of improved wheat variety adoption behavior of smallholder farmers revealed that Tropical livestock unit (TLU), received training, education level of the HHH and awareness on improved varieties positively and significantly related with the adoption of using improved varieties. While, Experience of growing Wheat and Land holding size improved adoption of improved wheat varieties suggesting credit would be crucial for enhancing adoption of using improved wheat varieties. Hence, strategies to enhance adoption of use of improved wheat varieties need to focus on factors that showed higher marginal effects.
35 Influence of Car, Ldr, Npl and Bopo on Roa on Commercial Banks Listed on the Indonesia Stock Exchange in 2010-2016 , Pandoyo, Samsudin
This study aims to test how much influence Capital Adequacy Ratio (CAR), Loan to Deposit Ratio (LDR), Non Performing Loan (NPL), Operational Revenue Expense (BOPO) to ROA; how much influence the CAR, LDR, NPL and BOPO simultaneously against ROA at commercial banks listed on the Indonesia Stock Exchange 2010-2016. The data used is secondary data in the form of financial ratios with the amount of 140 observations. Sampling is done by purposive sampling with the number of 20 banks, namely the largest commercial banks listed on the Indonesia Stock Exchange in terms of assets position of December 2016. Statistical test of SPSS which is used to test classical assumptions and multiple regression analysis. The results showed that CAR had no effect on ROA with a value of 0.2%. LDR has no effect on ROA with a value of 1.4%. NPL has a negative and significant effect on ROA with a value of 25.7%. BOPO has a negative and significant effect on ROA with a value of 77.2%. Simultaneously CAR, LDR, NPL, and BOPO have a significant influence on ROA at commercial banks listed on the Stock Exchange in 2010-2016. The prediction ability of these four variables on ROA is 81.60%, while the rest is influenced by other factors outside the research model.
36 Interaction between the Financial Market and Economic Policies: An Approach Based on the Crisis Caused by the COVID-19 in Brazil , Leonardo Maso Nasar, Rodrigo Farias da Costa Leite, Jorge Luis Sanchez Arevalo
The COVID-19 has social and economic impacts, especially in emerging countries like Brazil. The Brazilian’s context was different from the rest of the world, because while the other countries have to manage social and economic crises, Brazil also had to manage a political crisis caused by the president Jair Bolsonaro. The study aimed to analyze the importance of the fiscal, monetary and foreign exchange policies adopted by the Brazilian government and its effect on the stock exchange. To analyze the impacts of the COVID-19 in Brazilian economy, a time series analyses was conducted with the Vector Autoregressive Model. The variables analyzed by the study were: government spending, basic interest rate, Ibo Vespa index and exchange rate. The result highlights the relevance of expansive fiscal policy as a positive driver for investment intentions in the financial market. Although this behavior is not easy to understand, an example that can support this result is the indirect purchase of government bonds through the Central Bank.
37 Coronavirus Information Spread and Banks’ Stock Returns in Nigeria: An Event Study Approach , Ikwuagwu, Henry Chinedu1 , Efanga, Udeme Okon2 , Kingsley Nwagu3 , Ihemeje J.C.4
This research study empirically assessed the corona virus information spread and banks’ stock returns in Nigeria. The study adopted event study approach which suites the research because of its descriptive nature. The daily data of closing share prices of the selected banks listed in Nigerian Stock Exchange (NSE) was collected from NSE website for a period of 146 days. Using 124 days estimation window, the result shows that the Intercept (C) and Market Returns (MKTR) has a coefficient of -0.00125 and -0.00848 respectively. Analyzing the stock of commercial banks in the Nigerian stock exchange during the first 100 days of COVID19 contagious infectious disease outbreak in Nigeria, we find that the pandemic disease interacts positively with stock returns which is against the expectation. Specifically, banking firms’ abnormal returns on the corona virus information spread at 100th day are positive but insignificant. We therefore conclude that COVID-19 information into the Nigerian banking sector triggers positive investment in the sector with desirable abnormal returns. We therefore call the relevant authorities to adequately consider policy responses implemented in the sector, and to further analyze information about the COVID-19.
38 Impacts of Covid-19 Outbreak in Mental Health of Physicians and Nurses , Leonardo Maso Nassar, Lisa Wolf, Jorge Luis Sánchez Arevalo
COVID-19 was a disease emerged in China and quickly became a pandemic. The pandemic has put health professionals under strong pressure. This situation can cause perpetual damage to mental health. Objective: the objective of the study was to conduct a scooping review to investigate the studies already produced on COVID-19's mental impacts on physicians and nurses. Methodology: the mnemonic population, concept and context of the Joanna Briggs Institute was used for a scooping review. Results: two studies carried out in China and three letters to the editors were found addressing mental problems in physicians and nurses. Conclusion: despite being a recent disease, COVID-19 already demonstrates impacts on the mental health of physicians and nurses. Although the articles were made in China, reports from other countries suggest that physicians and nurses around the world are mentally impacted by work during the pandemic, with relates of suicides ideation and suicide cases among nurses in Italy, in England, in USA, in Mexico and in India.
39 Capital Structure and Financial Returns: Longitudinal Panel Evidence from NReits , Njideka Maryclara Aguome, Oluchi Adeline Diala, Chicheta Francis Nissi
The study is an investigation of the nexus between capital structure and financial returns. The investigation was conducted on a panel data of all real estate investment trusts in Nigeria (N-REITs) listed in the Nigerian Stock Exchange during 2009 to 2020. The independent variable was capital structure indicators of short-term debt, long-term debt and total debt. The dependent variable was proxied using 3 accounting measures of return on asset, return on equity and earnings per share. Data was sourced from secondary sources, specifically from the annual records and financial statements of N-REITs for the period. Upon data analysis with regression, the study found that capital structure had an insignificant relationship with the financial returns of N-REITs. However, for Sky Shelter Fund REIT, the result was contrary due to its statistically significant positive relationship between capital structure and returns. The findings of the study on the means, median and standard deviation of NREIT capital structures shows a compliance with the pecking-order hypothesis of firm financing.
40 The Influence of Corporate Governance Mechanism, Accounting Conservatism, And Company Size on Earnings Quality , Wiwik Pratiwi, Trisha Pralita
This research aims to provide empirical evidence on the influence of corporate governance mechanism (audit committee, independence board of commissioner, institutional ownership, managerial ownership), accounting conservatism, and company size on earnings quality. Sample used in this research are manufacturing company listed in Indonesia Stock Exchange (IDX) in 2016-2018 using purposive sampling and obtained 29 companies. This research used secondary data of annual report or financial statement obtained from Indonesia Stock Exchange (IDX) or company website in 2016-2018 period. Data were analyzed using multiple regression method. The finding of this research are institutional ownership and managerial ownership partially has positive significant effect to earnings quality. The accounting conservatism and company size partially has negative significant effect to earnings quality. Whether the audit committee and independence board of commissioner has no significant effect to earnings quality. In addition, corporate governance mechanism, accounting conservatism and company size simultaneously has a significant effect to earnings quality.
41 Restructuring of Electric Power Sector: The Transition from Monopoly to Competitive Market Conditions , Dario Maradin
The electric power sector is facing comprehensive changes reflected in the reorganization of the entire market, in the economic relations management and the technical and technological functioning of companies. The changes are in fact a consequence of various restructuring processes in the electric power sector, which are parallelly unfolding depending on the course and dynamics of the structural reforms implementation. In the electric power industry, these processes primarily involve liberalization, namely, opening the market to all business entities, and thus introducing competition to the electricity power market. The establishment of competition in the electric power industry is facilitated by the process of vertical unbundling of electric power activities, which can be divided into market-oriented and regulated activities. The purpose of this paper is to present the structural reforms and processes of restructuring the electric power industry which is transforming from monopoly market structures to competitive market conditions.