rss_2.0Economics and Business FeedSciendo RSS Feed for Economics and Businesshttps://sciendo.com/journal/EBhttps://www.sciendo.comEconomics and Business 's Coverhttps://sciendo-parsed-data-feed.s3.eu-central-1.amazonaws.com/606af87b3999800867736cab/cover-image.jpg?X-Amz-Algorithm=AWS4-HMAC-SHA256&X-Amz-Date=20220519T192349Z&X-Amz-SignedHeaders=host&X-Amz-Expires=604799&X-Amz-Credential=AKIA6AP2G7AKDOZOEZ7H%2F20220519%2Feu-central-1%2Fs3%2Faws4_request&X-Amz-Signature=8df7197ab77be6fc61ab4f15c7928726053809b0f608160089ea17ac95d140e7200300The Governance Effect on the Performance of an Urban Projecthttps://sciendo.com/article/10.2478/eb-2022-0003<abstract> <title style='display:none'>Abstract</title> <p>The aim of the paper is to offer project governance from a unique urban viewpoint that connects corporate, project, and urban governance by analysing a case study to understand how different internal project governance mechanisms can influence corporate and urban governance. The research examines the theoretical basis to determine the theoretical framework and empirical data about the impact of project governance. Then, conclusions are reached, and new research areas are suggested. The findings of the research indicate that no governance considerations have been made during the pre-planning stages of urban projects, and empirical evidence does not always go with the theoretical background. Further research is therefore required to elucidate this relationship. Thus, the article updates the state of the art on governance performance for empirical study by generalizing it across other projects to derive more conclusions that are accurate and adapt to contemporary circumstances.</p> </abstract>ARTICLE2022-04-13T00:00:00.000+00:00The Actions Carried Out by the Cyberparc Incubator of Sidi Abdellah During the Period of 2010–2020: State of Play and Perspectiveshttps://sciendo.com/article/10.2478/eb-2022-0002<abstract> <title style='display:none'>Abstract</title> <p>This paper aims to describe the actions carried out by the Cyber-park incubator of Sidi Abdellah during the period of 2010–2020 in order to support young project holders. The Cyber-park of Sidi Abdellah is the first Algerian experience of creating a technology park. The project is very ambitious; it reflects the Algerian political will to build an information society and accelerate the transition of Algeria to a knowledge economy. However, through our reading of the statistics provided, we can say that the number of project holders affiliated to the incubator of Sidi Abdullah, especially the number of projects accepted, is still far from the objectives presented by the incubator. On the other hand, we have found that the Cyber-park incubator focuses much more on the training of entrepreneurs, while the financial side is totally absent.</p> </abstract>ARTICLE2022-03-03T00:00:00.000+00:00Necessity of Budget Deficit Under Economic Growth in Monopolistic Competitionhttps://sciendo.com/article/10.2478/eb-2022-0001<abstract> <title style='display:none'>Abstract</title> <p>The aim of the paper is to show, using a simple two-period overlapping generations model in which goods are produced solely by labour in a monopolistically competitive industry, that a continuous budget deficit (including the interest payments on government bonds) is necessary to achieve and maintain full employment under economic growth driven by technological progress. Since the budget deficits must be continuous, it might be better if they were financed by seigniorage rather than government debt. Since the budget deficit due to the issuance of government bonds puts pressure on fiscal expenditures in the amount of interest payments, a budget deficit of the same size due to seigniorage is a more effective use of the budget. It will also be shown that to achieve full employment from a recession with involuntary unemployment the extra budget deficit is necessary.</p> </abstract>ARTICLE2022-02-20T00:00:00.000+00:00Covid-19 and Unemployment: Evidence from Puerto Rico Using Bayesian Analyses with High-Frequency Datahttps://sciendo.com/article/10.2478/eb-2021-0012<abstract> <title style='display:none'>Abstract</title> <p>The paper aims at determining the relationship between the Covid-19 contagion level and the state of the economy using high-frequency data from Puerto Rico. In order to achieve the aim set, the direction of the causality relationship between the numbers of infected persons and the unemployment rate was determined. Furthermore, various Bayesian statistical models were estimated. The analysis results imply that the unemployment rate responds moderately to the Covid-19 contagion level itself and not the other way around. The 95 % credible interval for the elasticity coefficient of the unemployment rate relative to the virus is estimated as [0.0140–0.1448]. Evidence also shows that at the beginning of 2021, most of the fluctuations in the unemployment rate were explained directly by the Covid-19 perturbations. Hence, no evidence was found that economic activity promoted the virus spread in the analysed economy.</p> </abstract>ARTICLE2021-10-30T00:00:00.000+00:00Examination of the Role of Corporate Branding in Achieving Business Excellence Requirements in Agencies of Algerian Companieshttps://sciendo.com/article/10.2478/eb-2021-0010<abstract> <title style='display:none'>Abstract</title> <p>This study seeks to define the role of corporate brands in achieving business excellence by conducting a field study on the agencies of Algerian mobile operators “Mobilis” and “Djezzy” in the state of Djelfa where the questionnaire has been used for the collection of opinions sample (45 employees) and then processed with the statistical program (SPSS). The results have shown that there is high awareness of corporate brands and business excellence. We have also found that the two dimensions of corporate brand (strategic vision, stakeholder image) affect the business excellence, whereas the organizational culture does not affect it. The results have also demonstrated that corporate brands as a group explain 47 % of the variation in business excellence, while the difference test have demonstrated that the awareness of the sample about “corporate brands” is not different according to the company but the awareness of the business excellence is in favor of the company “Mobilis” at the expense of the mobile operator “Djezzy”.</p> </abstract>ARTICLE2021-10-05T00:00:00.000+00:00Measures of Residential Energy Access in Mexico, 2008–2014https://sciendo.com/article/10.2478/eb-2021-0003<abstract> <title style='display:none'>Abstract</title> <p>The concept of energy access in developing countries, such as Mexico, encompasses the accessibility to reliable fuels for heating, cooking, and lighting purposes while reducing coal and firewood consumption. This paper suggests residential energy access indicators by applying accessibility theory and estimating demand equations for electricity, natural gas, propane, firewood, and coal using Mexican households’ survey data from 2008 to 2014. Sprawl measures, gravity model, and central place theory are the accessibility theories supporting the accessibility indicators. The suggested energy access indicators are statistically significant and show the expected signs when applied to propane in Mexican households in 2014. The greater the household income, population size, education level of the household head, energy access, and the lower the energy price and the household size, the greater the demand for energy from 2008 to 2014. By contrast, the greater the education, the lower the demand for firewood and coal. Policy-makers in Mexico can use the suggested results to complement the energy access indicators suggested by international agencies to evaluate energy access performance and better understand the drivers of the different energy goods consumed by Mexican households.</p> </abstract>ARTICLE2021-03-28T00:00:00.000+00:00Persistence and Predictive Ability of Earnings: Evidence from France and the UKhttps://sciendo.com/article/10.2478/eb-2021-0013<abstract> <title style='display:none'>Abstract</title> <p>The persistence and predictive ability are extensively requested as desirable attributes of earnings quality in the literature. The paper aims at investigating the persistence and predictive ability of earnings in French and UK companies. The study included a panel data of 1035 firm-year observations for 115 French listed companies from the CAC All-Tradable and 900 firm-year observations for 100 UK listed companies from the FTSE All-Share, during the period of 2011–2019. The research design was based on two equations starting from Sloan (1996) that were estimated using Fixed Effects Method. The study showed that earnings were persistent but they had no predictive ability regarding the future cash flows whether in French or UK companies and that earnings of UK companies were more persistent than those of the French companies. We argue that the persistence of earnings and the inability to predict future cash flows can be evidence of earnings management. The study contributes to the literature about earnings quality by studying earnings persistence and earnings predictive ability together in two different environments. The results require that users must take into consideration the illusory persistence of earnings, auditors must be cautious regarding the manipulation of earnings by managers, and accounting standard setters must review the reporting guidelines of cash flows to enhance their predictability by earnings.</p> </abstract>ARTICLE2021-11-03T00:00:00.000+00:00Education and Economic Growth in Developing Countries: Empirical Evidence from GMM Estimators for Dynamic Panel Datahttps://sciendo.com/article/10.2478/eb-2021-0002<abstract> <title style='display:none'>Abstract</title> <p>The paper aims at studying the effect of education measured by enrolment ratios in secondary and higher education on economic growth measured by the rate of GDP growth in a sample of 40 developing countries during the period from 2002 to 2016 using the dynamic panel data estimators. The results of estimating the model of this study using the difference GMM estimator or what is known as the Arellano and Bond estimator showed that the proportions of those enrolled in tertiary education had a significant positive effect on economic growth, while the proportions of those enrolled in secondary education had a significant negative effect.</p> </abstract>ARTICLE2021-03-11T00:00:00.000+00:00The Nexus of Government Spending, Price, Output, and Money in the ECOWAS Sub-Region: Evidence from Panel ARDL and Causality Approachhttps://sciendo.com/article/10.2478/eb-2021-0005<abstract> <title style='display:none'>Abstract</title> <p>The question of how macroeconomic variables dynamically interact is very crucial in any broad-based economic integration aiming at expanding economic growth and living standard in any human society. This study examined the nexus of government spending, price, output, and money in the ECOWAS sub-region using panel ARDL and causality approach. Data covering the period (1981–2019) were collected mainly from the latest version of the World Development Indicators. The result showed a positive relationship between government spending with GDP, import, exchange rate, unemployment rate, and population growth rate but a negative relationship between government spending with inflation, money supply, export, and interest rate. The result further showed short-run unidirectional causality running from government spending to inflation, money supply to inflation as well as money supply to GDP. Short-run bi-directional causality existed between GDP and inflation but none between government spending and GDP nor between government spending and money supply. The result of long-run Granger causality test showed bi-directional causality between government spending with inflation, government spending, and money supply; GDP and inflation; and GDP and money supply. Unidirectional causality ran from GDP to government spending; and money supply to inflation. The overall implication of this study established that an increase in government spending lowered inflation and raised the living standard of people in the ECOWAS sub-region in the long run. The study therefore concluded that any rise in import, unemployment rate, exchange rate, and population growth rate would raise government spending growth rate in the short run; and an increase in government spending would shrink inflation and boost economic growth and living standard in the long run.</p> </abstract>ARTICLE2021-04-27T00:00:00.000+00:00The Limits of Leadership as a Barrier to Quality Assurance in Higher Education in Algeriahttps://sciendo.com/article/10.2478/eb-2021-0015<abstract> <title style='display:none'>Abstract</title> <p>Since 2010, Quality Assurance (QA) has been officially adopted and has become a priority of the Higher Education (HE) system in Algeria. This study is part of this framework and aims to explore the role of leadership in the QA process as perceived by Quality Management Managers (QMRs). It is based on a qualitative approach through interviews with 27 QMRs from different institutions. Content analysis technique was used to analyse data.</p> <p>The results show that QMRs consider the lack of commitment and involvement of institutions’ higher management as a major constraint to the success of quality processes. The study reveals that the main barrier to QA is related to the limitations of institutions’ governance, which do not promote autonomy and effectiveness. The study suggests that two elements seem to be crucial: autonomy and <italic>training/awareness</italic> of institutions’ higher managers. Those elements are closely linked and could be at the origin of the success or failure of quality mechanisms.</p> </abstract>ARTICLE2021-12-04T00:00:00.000+00:00The Financial State of Local Communities: A Comparative Research of Ukraine and the Czech Republichttps://sciendo.com/article/10.2478/eb-2021-0011<abstract> <title style='display:none'>Abstract</title> <p>The article describes the specific details of local communities functioning in Ukraine and the Czech Republic. It has been examined that Ukraine and the Czech Republic have similar, but not identical systems of local governance. We conducted a comparative analysis of the financial state of local communities in both countries by five indicators. Indicator 1 (total income per capita) characterises the community’s financial potential and reveals that Ukraine’s local communities have fewer financial resources to use. Indicator 2 (total expenditures per capita) describes the ability to provide residents with the resources generated in their community and Czech communities have a higher value of this indicator. Indicator 3 (share of the administrative expenditures) shows the effectiveness of money spent, and local communities in both Ukraine and the Czech Republic spend particularly the same part of their total expenditures on administrative needs. Indicator 4 (capital expenditures per capita) demonstrate how the money generated is spent on urgent capital investments and Ukraine’s communities have much lower capital expenditures per capita than Czech ones. Indicator 5 (the share of capital expenditures in total expenditures) reflects how local communities perceive the importance of investments in capital projects and Ukraine’s communities spend fewer financial resources for capital needs than Czech ones.</p> </abstract>ARTICLE2021-10-18T00:00:00.000+00:00Informal Sector and International Capital Movement: New Evidence from Some Petroleum Countrieshttps://sciendo.com/article/10.2478/eb-2021-0008<abstract> <title style='display:none'>Abstract</title> <p>The main aim of this paper is to investigate the effect of the informal economy (IE) on foreign direct investment (FDI) in a sample of petroleum producing countries (Algeria, Norway, the Russian Federation, Saudi Arabia and United States) based on data covering the period of 1991–2018 and using the Non-linear Autoregressive Distribution Lag (NARDL) model. The NARDL model was built separately for each country in the study sample. The main finding of this study is the impact of IE size on FDI inflows in all of the countries in the study sample, even if they are all producing and exporting countries. The empirical results lead to distinguish between two sub-groups. The first sub-group consists of countries whose FDI inflows have been positively affected by positive and negative shocks in the IE. These countries are characterised by a high share of natural resources in their GDP. The second sub-group consists of countries whose inward FDI has been positively affected by negative shocks in the IE and negatively affected by the positive ones. The most common feature of this subgroup is the relative independence of economics from natural resources.</p> </abstract>ARTICLE2021-05-28T00:00:00.000+00:00Cash Flow and Profit Impact on Capital Account Liberalization-Investment Growth Nexus in Nigeria: An Aggregated Firm Casehttps://sciendo.com/article/10.2478/eb-2021-0014<abstract> <title style='display:none'>Abstract</title> <p>The article examines the firm’s investment growth effect following capital liberalization and financial constraints. It employs firm-level aggregated data of 80 firms for the period of 2006 to 2016. Employing the differenced dynamic panel regression technique, the analysis has revealed among others that investment growth appears to be significantly determined by cash flow (internal), thereby indicating the presence of profound financial constraint among firms in all industries. Second, the capital account liberalization appears to drive investment more through the indirect channel (capital/credit availability channel proxied by cash flow). Third, capital account liberalization-investment growth nexus appears to be less sensitive and significant with high profitability. This could be attributed to “profit flight” or repatriation of profit by foreign investors who may not necessarily prefer ploughing back of profit, which has implication for further expansion of investment among firms. This suggests that the level of capital openness is still low; hence, there is a need for further liberalization of the capital account with some mandate of profit ploughing back.</p> </abstract>ARTICLE2021-11-06T00:00:00.000+00:00Impact of Digital Transformation on Accounting Information Systems – Evidence from Algerian Firmshttps://sciendo.com/article/10.2478/eb-2021-0017<abstract> <title style='display:none'>Abstract</title> <p>The study aims to demonstrate the conceptual and practical framework of digital transformation and its impact on accounting information systems by focusing on the requirements of digital transformation, such as the digital strategy, the necessary knowledge of the human element, and the effects and obstacles facing the digitization of accounting information systems. The study attempts to answer the following question: What is the impact of digital transformation on accounting information systems in business organisations? The study uses deductive reasoning, based on many previous studies, by applying it to a sample of 237 individuals active in about 120 firms operating in the Algerian environment through a questionnaire distributed in 2021. The study has found a weak degree of awareness of the importance of digital transformation, and a low effort to develop accounting information systems in line with the requirements of digital transformation, all due to the presence of several high-impact challenges.</p> </abstract>ARTICLE2021-12-30T00:00:00.000+00:00Impact of National Debt Burden on Economic Stability in Nigeriahttps://sciendo.com/article/10.2478/eb-2021-0006<abstract> <title style='display:none'>Abstract</title> <p>The study argues that national debt becomes a burden when debt overhang is rising, a foreign reserve is inadequate to cover short-term external debt and government revenue is inadequate for debt servicing. This paper investigates the impact of national debt burden on economic stability in Nigeria. Data spanning from 1981 to 2019 have been collated from the World Development Indicators and Central Bank of Nigeria Statistical Bulletin, 2019 edition. Consequently, the variables used to measure debt burden are total debt-to-GDP ratio (debt overhang), short-term external debt-to-reserves ratio (reserve adequacy) and debt service cost-to-government revenue ratio (revenue adequacy) with exchange rate as a control variable, while economic stability is measured with real GDP growth rate. The Autoregressive Distributed Lag (ARDL) model is used for the analysis since the variables are stationary at both levels and first difference. The ARDL estimation shows that the explanatory variables collectively cause a diminishing impact on economic stability in the long run with revenue adequacy having a negative and significant impact. In the short run, all the components of debt burden, except debt overhang, have a negative and significant impact on economic stability. Under this circumstance, exchange rate has a positive and significant impact on economic stability in the long run.</p> </abstract>ARTICLE2021-05-08T00:00:00.000+00:00External Debt and Economic Growth in Niger: a Vector Autoregression and Variance Decomposition Analysishttps://sciendo.com/article/10.2478/eb-2021-0001<abstract> <title style='display:none'>Abstract</title> <p>In the quest for quick economic development, many Sub Saharan African (SSA) countries borrow money to finance their budget deficits and vital infrastructure. Niger has seen its external debt increase year after year without really reaching economic development. This study uses a vector autoregressive (VAR) model to investigate the relation linking external debt and economic growth in Niger and variance decomposition forecast to verify if there is any significant impact from shocks for a period of 5 years in the future. The study utilises time series yearly data provided by the World Bank for the period covering 1970–2019. The empirical results reveal no long-run relationship between economic growth, external debt and government spending in Niger. The results also indicated that, on average ceteris paribus, the past realisation of economic growth is related to an increase of 97.75 % in economic growth, while the past realisation of external debt and government spending is associated with an increase of 83.77 % and 79.70 % in external debt and government spending, respectively. The results furthermore show that economic growth has a statistically significant causal effect on government spending in the short term. One percentage increase in economic growth accounts for an increase of 35.28 % in government spending on average ceteris paribus. The variance decomposition forecast reveals that economic growth has a significant influence on predicting government spending in the future.</p> </abstract>ARTICLE2021-02-24T00:00:00.000+00:00Bioenergy and Bioresources Usage in the Context of Circular Economy Promotionhttps://sciendo.com/article/10.2478/eb-2021-0004<abstract> <title style='display:none'>Abstract</title> <p>The circular economy, which minimises the level of environmental pollution, creates a promising background for sustainable development. The application of bioeconomics principles provides the use of by-products of agriculture, forestry, food waste, and wastewater as raw materials for electricity and heat. The objective is to analyse the prerequisites for bioenergy development as one of the circular economy areas. FGLS estimations are performed over the period of 2007–2018. The leading position in terms of bioenergy sphere growth is occupied by the European Union, followed by the countries of Asia and North America. The division of biomass into “traditional” and “modern” is discussed, where traditional biomass is mostly used for cooking and space heating in developing countries, while the EU is focusing on the development of second-generation (2G) biofuels when the biofuel is produced from non-food raw materials. It is estimated that the annual production of energy from renewable sources is about 225 thousand tons of o. e. in Ukraine. It is found that the legal field and the strategic directions of the bioeconomy in the European Union and Ukraine coincide, but the pace of development of bioenergy in Ukraine can be described as very slow. To increase the bioenergy potential, it is recommended to apply green tariffs, renewable energy certificates, and subsidies to energy producers.</p> </abstract>ARTICLE2021-04-08T00:00:00.000+00:00Telecommuting Intensity in the Context of COVID-19 Pandemic: Job Performance and Work-Life Balancehttps://sciendo.com/article/10.2478/eb-2021-0007<abstract> <title style='display:none'>Abstract</title> <p>The COVID-19 pandemic caused a prolonged and intensified telecommuting arrangement that raised a number of unprecedented concerns regarding its implications on employees’ job performance (JP) and work-life balance (WLB). This study primarily aimed at determining the relationship between telecommuting intensity and employees’ JP and WLB. Further, it sought to know if there was a significant difference in employees’ productivity when working at the office and at home. Lastly, it assessed whether previous frameworks on JP and WLB were still valid during the COVID-19 crisis.</p> <p>A total of 396 telecommuting employees from three BPO companies in the Philippines were gathered using stratified random sampling. Pearson correlation, <italic>T</italic>-test, and confirmatory factor analysis (CFA) were executed for this study. The result of this study provides evidence that intensified telecommuting has a negative relationship with employees’ WLB. It means that longer time spent in telecommuting decreases the work-life balance of employees. On the other hand, telecommuting intensity is not significantly correlated with employees’ JP, supporting the second finding that there is no significant difference in the percentage of work done and the amount of time spent to finish a job at home and at the office. Lastly, CFA generated that the frameworks on JP and WLB were still applicable in the context of COVID-19. This study provides managers with findings to more carefully design telecommuting programmes with emphasis on supporting the factors that contribute to employees’ work-life balance.</p> </abstract>ARTICLE2021-05-20T00:00:00.000+00:00Corporate Social Responsibility and Firms’ Financial Performance: A Study of Nigerian Consumer Goods Companieshttps://sciendo.com/article/10.2478/eb-2021-0016<abstract> <title style='display:none'>Abstract</title> <p>The study is based on corporate social responsibility and financial performance of companies in Nigeria. The study focuses on the issues and ideologies that surround the practices of corporate social responsibility by consumer goods companies in Nigeria. The main objective of the study is to explore the impact of corporate social responsibility on profit after tax, earnings per share and net asset per share of listed consumer goods companies in Nigeria. The study adopts ex-post facto research design. Data were collected from financial reports of five listed consumer goods companies in Nigeria for a period of 5 years from 2015 to 2019. The financial reports and the hypotheses were statistically analysed using the panel data regression analysis. The results revealed a positive but insignificant effect of corporate social responsibility on profit after tax, earnings per share and net asset per share. According to the findings of the study, corporate social responsibility requires more attention and commitment from corporations because it ensures benefits other than profits which in the end boost financial performance.</p> </abstract>ARTICLE2021-12-23T00:00:00.000+00:00Domestic Credit and the Balance of Payment Deficit: Evidence from a Heterogeneous Panel of Five Selected Mena Countrieshttps://sciendo.com/article/10.2478/eb-2021-0009<abstract> <title style='display:none'>Abstract</title> <p>This study investigated the relationship between domestic credit and net foreign assets in the long run through the monetary approach to the balance of payments (MABP) for a panel of five selected MENA countries (Jordan, Egypt, Algeria, Morocco, Tunisia) during the period extending from 1980 to 2019. It employed the second-generation methods in panel data analysis to deal with cross-sectional dependence (CSD) and slope heterogeneity. According to the panel results for Common Correlated Effects Mean Group (CCEMG) and Augmented Mean Group (AMG) estimators, domestic credit has a significant negative impact on net foreign assets in the long run. The country-specific results for the AMG estimator strongly supported the MABP propositions in Jordan, Morocco, and to a lesser extent, in Egypt and Algeria. As for Tunisia, the results do not conform with what MABP predicted. The implicit conclusion is that an increase in domestic credit causes a continuous loss of net foreign assets in Egypt, Jordan, Morocco, and Algeria. Thus, monetary authorities should formulate an appropriate monetary policy to control the domestic credit creation as a mechanism toward improving the balance of payment (BOP) position. Furthermore, the policymakers should concentrate on other policy instruments to correct the BOP deficit rather than focusing on monetary tools, especially in Tunisia, where the findings showed that BOP was not a monetary phenomenon.</p> </abstract>ARTICLE2021-08-23T00:00:00.000+00:00en-us-1