Journal & Issues

Volume 33 (2023): Issue 1 (March 2023)

Volume 32 (2022): Issue 4 (December 2022)

Volume 32 (2022): Issue 3 (September 2022)

Volume 32 (2022): Issue 2 (June 2022)

Volume 32 (2022): Issue 1 (March 2022)

Volume 31 (2021): Issue 4 (December 2021)

Volume 31 (2021): Issue 3 (September 2021)

Volume 31 (2021): Issue 2 (June 2021)

Volume 31 (2021): Issue 1 (March 2021)

Volume 30 (2020): Issue 4 (December 2020)

Volume 30 (2020): Issue 3 (September 2020)

Volume 30 (2020): Issue 2 (June 2020)

Volume 30 (2020): Issue 1 (March 2020)

Volume 29 (2019): Issue 4 (December 2019)

Volume 29 (2019): Issue 3 (September 2019)

Volume 29 (2019): Issue 2 (June 2019)

Volume 29 (2019): Issue 1 (March 2019)

Volume 28 (2018): Issue 4 (December 2018)

Volume 28 (2018): Issue 3 (September 2018)

Volume 28 (2018): Issue 2 (June 2018)

Volume 28 (2018): Issue 1 (March 2018)

Volume 27 (2017): Issue 4 (December 2017)

Volume 27 (2017): Issue 3 (September 2017)

Volume 27 (2017): Issue 2 (June 2017)

Volume 27 (2017): Issue 1 (April 2017)

Volume 26 (2016): Issue 4 (November 2016)

Volume 26 (2016): Issue 3 (September 2016)

Volume 26 (2016): Issue 2 (June 2016)

Volume 26 (2016): Issue 1 (March 2016)

Volume 25 (2015): Issue 4 (November 2015)

Volume 25 (2015): Issue 3 (August 2015)

Volume 25 (2015): Issue 2 (July 2015)

Volume 25 (2015): Issue 1 (May 2015)

Journal Details
Format
Journal
eISSN
2285-3065
First Published
30 Mar 2015
Publication timeframe
4 times per year
Languages
English

Search

Volume 31 (2021): Issue 3 (September 2021)

Journal Details
Format
Journal
eISSN
2285-3065
First Published
30 Mar 2015
Publication timeframe
4 times per year
Languages
English

Search

5 Articles
Open Access

Taxation and Transportation: Granger Causality Approach in Nigeria

Published Online: 23 Jul 2021
Page range: 1 - 20

Abstract

Abstract

This study gauges taxation's effect on transportation from 1981 to 2019 in Nigeria. This study further assesses the bearing of causality among Transportation, Corporate tax, Petroleum profit tax, Value added tax and Custom and Excise duties. Analytical tools such as VECM, Johanson Test for Cointegration, Vector Autoregression and granger causality Wald (GCW) test are adopted for analysis. Diagnosis tests such as the Lagrange-multiplier test, Jarque-Bera test and Eigenvalue stability condition are carried out to examine autocorrelation, stability and normality tests respectively. Outcomes divulge that corporate tax has a positive short-run and long-run influence on transportation. Petroleum profit tax, Value added tax and Custom and Excise duties also impact transportation positively and significantly both in the long run and short run as deduced from empirical analysis. This reveals that all the components of taxation observed influence transportation positively both in the long run and short run in Nigeria. Conclusively, taxation impacts transportation positively and significantly both in the short run and long run. This translates that taxation income has been utilized effectively to upsurge transportation in Nigeria. It predicts that transportation will perform excellently in terms of economic development and employment generation if taxable income is properly monitored and utilized effectively.

Keywords

  • Transportation
  • Granger Causality
  • Taxation
  • VAR
  • Dickey-Fuller Test

JEL Classification

  • R420
  • H200
  • C580
  • C120
Open Access

Financial System and SMEs Access to Finance: A Market-Oriented Approach

Published Online: 23 Jul 2021
Page range: 21 - 36

Abstract

Abstract

The study uses a market-oriented approach to investigate the relationship between the financial system and SMEs access to finance in Nigeria between 1995 and 2019. Both indicators from the capital and money markets are used as independent variables while some macroeconomic variables such as inflation rate, interest rate and exchange rate are also used. The study made use of Auto-Regressive Distributed Lag to explore the long and short-run relationship and the result shows that the capital market has a more significant impact on SMEs access to finance than the money market. Variables such as inflation rate, exchange rate and interest rate all have a significant influence on access to finance by the SMEs. it is recommended that the money market as an important aspect of the financial system in Nigeria should be made to devote more credit to the SMEs sector as it has shown from this study that the bulk of the credit going into the private sector from the money market might not go into the SMEs sector. The inflation rate should also be controlled as well as reducing the lending rate and guide against unreasonable currency devaluation to promote access to finance by the SMEs in Nigeria.

Keywords

  • SMEs
  • Finance
  • Money market
  • Capital market

JEL Classification

  • L22
  • L25
  • L26
Open Access

A Review of the Impact of External Shocks on Monetary Policy Effectiveness in Non-WAEMU Countries

Published Online: 23 Jul 2021
Page range: 37 - 59

Abstract

Abstract

In this paper, the extant literature on the impact of external shocks on monetary policy effectiveness with reference to non-WAEMU countries is reviewed. The importance of this literature review is to provide contemporary perspectives to scholars and policymakers on the relevance of the incidence of external shocks to the effectiveness of monetary policy with reference to non-WAEMU countries. The literature reviewed in this study shows that, on the whole, the extent and the degree to which external shocks are transmitted to the domestic economy substantially depend on a plethora of features, namely the absence of exchange rate flexibility; a strong export concentration, especially with respect to commodities; the level of global economic integration; restricted capacities of production; the absence of competitiveness in exports; over-reliance on foreign aid; foreign reserves that are not adequate and capital account openness.

Keywords

  • external shocks
  • monetary policy
  • monetary aggregate targeting
  • non-WAEMU countries

JEL Classification

  • F15
  • F36
  • F42
Open Access

Impact of Celebrity Endorsement and Breaking News Effect on the Attention of Consumers

Published Online: 23 Jul 2021
Page range: 60 - 74

Abstract

Abstract

In the last decade, the new means of communication have determined substantial changes in human behavior and in the way individuals interact with each other. Besides the numerous benefits and opportunities that have arisen throughout the digitalization process, both for individuals as well as for private companies and state institutions, the widespread use of the Internet has generated vulnerabilities and threats. One of the most consistent concerns related to the new means of communication, especially social media platforms, refers to fake news. In recent years, major events including the 2016 presidential election in the US, Brexit, and the emergence of the COVID-19 pandemic have proven the negative effects of fake news on society.

In this paper, we use an eye-tracking experiment to determine the unconscious reactions of consumers regarding the attraction potential of a fake news manner written article about a celebrity couple. The results of the experiment for this magazine’s article, with a fake title about the celebrity couple, show that the participants focus their attention on celebrities and fake titles mostly. The picture of the celebrities and the fake title of the article beats the other areas from the article and less on the information in the text. The research proves empirically that consumers are more attentive to celebrity pictures and fake breaking news titles and less to real information in the article. To sum up, testimonials and fake news play an important role in attracting publicity and influencing consumer behavior.

Keywords

  • celebrity endorsement
  • fake news
  • breaking news effect
  • clickbait
  • neuromarketing

JEL Classification

  • M10
Open Access

Analysis of Impact of Changes in IFRSs on Convergence of Accounting Systems in World

Published Online: 23 Jul 2021
Page range: 75 - 103

Abstract

Abstract

The article examines the impact of updated IFRS on the current convergence of national accounting and reporting rules in Japan, the USA, China, France, Germany, the UK, and Ukraine based on a theoretical analysis of 59 rules and concepts of IFRS. The new differences between the updated IFRS and GAAP of these countries based on the comparative analysis were revealed. The results of the study show currently Ukraine (51%) and the United Kingdom (47%) are the most convergent with IFRS, although their degree of convergence has decreased significantly after recent innovations in IFRS; a new question arises for the UK after Brexit regarding the further application of IFRS; countries with strong national accounting traditions continue to avoid rapid changes in their GAAP; 4) the increase in the convergence of GAAP Japan with IFRS will not be possible shortly. The conclusion states that the main obstacle in the convergent process GAAP and IFRS is that: 1) IFRS are changing based on GAAP USA, rather than vice versa; 2) IFRS do not belong to the “stable to change standards”, so users have a certain distrust of the declared high quality of IFRS. The study results add significant novelty to scientific and practical research on the impact of frequent changes in IFRS both locally and internationally.

Keywords

  • IFRS
  • GAAP
  • US
  • financial reporting
  • national accounting rules
  • comparative analysis
  • EU
  • standards

JEL Classification

  • M40
  • M39
  • M41
5 Articles
Open Access

Taxation and Transportation: Granger Causality Approach in Nigeria

Published Online: 23 Jul 2021
Page range: 1 - 20

Abstract

Abstract

This study gauges taxation's effect on transportation from 1981 to 2019 in Nigeria. This study further assesses the bearing of causality among Transportation, Corporate tax, Petroleum profit tax, Value added tax and Custom and Excise duties. Analytical tools such as VECM, Johanson Test for Cointegration, Vector Autoregression and granger causality Wald (GCW) test are adopted for analysis. Diagnosis tests such as the Lagrange-multiplier test, Jarque-Bera test and Eigenvalue stability condition are carried out to examine autocorrelation, stability and normality tests respectively. Outcomes divulge that corporate tax has a positive short-run and long-run influence on transportation. Petroleum profit tax, Value added tax and Custom and Excise duties also impact transportation positively and significantly both in the long run and short run as deduced from empirical analysis. This reveals that all the components of taxation observed influence transportation positively both in the long run and short run in Nigeria. Conclusively, taxation impacts transportation positively and significantly both in the short run and long run. This translates that taxation income has been utilized effectively to upsurge transportation in Nigeria. It predicts that transportation will perform excellently in terms of economic development and employment generation if taxable income is properly monitored and utilized effectively.

Keywords

  • Transportation
  • Granger Causality
  • Taxation
  • VAR
  • Dickey-Fuller Test

JEL Classification

  • R420
  • H200
  • C580
  • C120
Open Access

Financial System and SMEs Access to Finance: A Market-Oriented Approach

Published Online: 23 Jul 2021
Page range: 21 - 36

Abstract

Abstract

The study uses a market-oriented approach to investigate the relationship between the financial system and SMEs access to finance in Nigeria between 1995 and 2019. Both indicators from the capital and money markets are used as independent variables while some macroeconomic variables such as inflation rate, interest rate and exchange rate are also used. The study made use of Auto-Regressive Distributed Lag to explore the long and short-run relationship and the result shows that the capital market has a more significant impact on SMEs access to finance than the money market. Variables such as inflation rate, exchange rate and interest rate all have a significant influence on access to finance by the SMEs. it is recommended that the money market as an important aspect of the financial system in Nigeria should be made to devote more credit to the SMEs sector as it has shown from this study that the bulk of the credit going into the private sector from the money market might not go into the SMEs sector. The inflation rate should also be controlled as well as reducing the lending rate and guide against unreasonable currency devaluation to promote access to finance by the SMEs in Nigeria.

Keywords

  • SMEs
  • Finance
  • Money market
  • Capital market

JEL Classification

  • L22
  • L25
  • L26
Open Access

A Review of the Impact of External Shocks on Monetary Policy Effectiveness in Non-WAEMU Countries

Published Online: 23 Jul 2021
Page range: 37 - 59

Abstract

Abstract

In this paper, the extant literature on the impact of external shocks on monetary policy effectiveness with reference to non-WAEMU countries is reviewed. The importance of this literature review is to provide contemporary perspectives to scholars and policymakers on the relevance of the incidence of external shocks to the effectiveness of monetary policy with reference to non-WAEMU countries. The literature reviewed in this study shows that, on the whole, the extent and the degree to which external shocks are transmitted to the domestic economy substantially depend on a plethora of features, namely the absence of exchange rate flexibility; a strong export concentration, especially with respect to commodities; the level of global economic integration; restricted capacities of production; the absence of competitiveness in exports; over-reliance on foreign aid; foreign reserves that are not adequate and capital account openness.

Keywords

  • external shocks
  • monetary policy
  • monetary aggregate targeting
  • non-WAEMU countries

JEL Classification

  • F15
  • F36
  • F42
Open Access

Impact of Celebrity Endorsement and Breaking News Effect on the Attention of Consumers

Published Online: 23 Jul 2021
Page range: 60 - 74

Abstract

Abstract

In the last decade, the new means of communication have determined substantial changes in human behavior and in the way individuals interact with each other. Besides the numerous benefits and opportunities that have arisen throughout the digitalization process, both for individuals as well as for private companies and state institutions, the widespread use of the Internet has generated vulnerabilities and threats. One of the most consistent concerns related to the new means of communication, especially social media platforms, refers to fake news. In recent years, major events including the 2016 presidential election in the US, Brexit, and the emergence of the COVID-19 pandemic have proven the negative effects of fake news on society.

In this paper, we use an eye-tracking experiment to determine the unconscious reactions of consumers regarding the attraction potential of a fake news manner written article about a celebrity couple. The results of the experiment for this magazine’s article, with a fake title about the celebrity couple, show that the participants focus their attention on celebrities and fake titles mostly. The picture of the celebrities and the fake title of the article beats the other areas from the article and less on the information in the text. The research proves empirically that consumers are more attentive to celebrity pictures and fake breaking news titles and less to real information in the article. To sum up, testimonials and fake news play an important role in attracting publicity and influencing consumer behavior.

Keywords

  • celebrity endorsement
  • fake news
  • breaking news effect
  • clickbait
  • neuromarketing

JEL Classification

  • M10
Open Access

Analysis of Impact of Changes in IFRSs on Convergence of Accounting Systems in World

Published Online: 23 Jul 2021
Page range: 75 - 103

Abstract

Abstract

The article examines the impact of updated IFRS on the current convergence of national accounting and reporting rules in Japan, the USA, China, France, Germany, the UK, and Ukraine based on a theoretical analysis of 59 rules and concepts of IFRS. The new differences between the updated IFRS and GAAP of these countries based on the comparative analysis were revealed. The results of the study show currently Ukraine (51%) and the United Kingdom (47%) are the most convergent with IFRS, although their degree of convergence has decreased significantly after recent innovations in IFRS; a new question arises for the UK after Brexit regarding the further application of IFRS; countries with strong national accounting traditions continue to avoid rapid changes in their GAAP; 4) the increase in the convergence of GAAP Japan with IFRS will not be possible shortly. The conclusion states that the main obstacle in the convergent process GAAP and IFRS is that: 1) IFRS are changing based on GAAP USA, rather than vice versa; 2) IFRS do not belong to the “stable to change standards”, so users have a certain distrust of the declared high quality of IFRS. The study results add significant novelty to scientific and practical research on the impact of frequent changes in IFRS both locally and internationally.

Keywords

  • IFRS
  • GAAP
  • US
  • financial reporting
  • national accounting rules
  • comparative analysis
  • EU
  • standards

JEL Classification

  • M40
  • M39
  • M41

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