University of Dubai's Dubai Business School (DBS): E-Journals
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Prevalence of the HDI: Alternative consideration of employment factors from 30 OECD countries
Full text linkThe HDI has played an influential role in the debate on human development for many years. However, no index is perfect in the HDI. It can be argued that the current HDI does not totally reflect human development performance, and thus proper rankings for some countries. Therefore, this article aims to construct a new composite index for the development performance of a sample of 30 organizations for OECD countries by adding a fourth indicator, namely the employment rate to the calculation of HDI. Including employment factors in HDI as a new indicator has not only made the index more comprehensive but also presented a more suitable dimension for assessing the development performance of countries. By considering these factors, it is hoped that people will get a decent income in order to achieve a level of welfare
African financial markets in a storm: Cryptocurrency safe havens during the COVID-19 pandemic
Full text linkThe COVID-19 pandemic provides the first widespread bear market conditions since the inception of cryptocurrencies. We test the haven properties of cryptocurrencies for African stocks and commodity markets in a pandemic implementing the frequency domain spillover index. Data spans 11th August 2015 to 28th August 2020 at a daily frequency. Findings show weak interconnectedness across markets suggesting non-contagion risk and that cryptocurrency are safe havens for African stocks and commodity indices from the medium-term. We find the major transmitters of spillover effects across markets to be time-varying and heterogeneous. This study provides significant risk diversification benefits for policymakers and investors in the African financial markets
Do behavioral, educational, and legal factors determine the applicability of forensic accounting in the public sector?
Full text linkThis study examined the impact of educational, legal, and behavioral factors on the applicability of forensic accounting in the public sector in Nigeria. The study utilized primary data through the administration of questionnaires to accountants the internal and external auditors drawn from seven states of the North-Western geo-political zone of Nigeria. Partial Least Squares (PLS) path modeling using smart PLS3 Statistical Software was employed for the analysis. The findings indicated that behavioral, educational, and legal factors are positively related to the applicability of forensic accounting in the states. The results revealed the importance of giving special consideration to educational, legal, and behavioral factors to ensure the successful application of forensic accounting to deter and detect corruption and other fraudulent activities in Nigeria. The study shows how educational and professional institutions would assist in the promotion of the awareness, knowledge, and skills of forensic accounting
Corporate governance disclosure and corporate performance of Nigerian banks
Full text linkCorporate disclosure is a key mechanism of corporate governance. This study examined the effect of corporate governance disclosure (CGD) on the financial performance of commercial banks listed on the Nigeria Stock Exchange. Based on the provisions of the Code of Corporate Governance for Public Companies in Nigeria, 2011 and the Code of Corporate Governance for Banks and Discount Houses 2014, the study developed a disclosure checklist and employed content analysis technique to extract corporate governance (CG) from 78 annual reports of 13 Nigerian commercial banks from 2011 to 2016. The study trichotomized CGD into those relating to the board of directors, risk framework, and whistleblowing policy. The results of the hypothesized relationships showed a positive and significant association between CGD and the banks' financial performance, with a positive effect of CGD on the board of directors and whistleblowing policy. However, the study did not find a significant association between CGD of risk management framework and the banks' financial performance. This study contributes to the body of knowledge by providing a broader understanding of the effect of CGD on banks' financial performance. The development of a disclosure checklist based on the regulators’ codes of corporate governance is a useful addition to the literature
Practices of corporate social responsibility in the UAE banking sector: An assessment
Full text linkThere is a conspicuous lack of research on Corporate Social Responsibility (CSR) practices undertaken in the United Arab Emirates, more so in the banking sector. This paper attempts to fill the gap by examining the government policies drawn up to support enterprises in their CSR efforts. The paper aims to examine the nature and practices of CSR undertaken by the banking sectors in the UAE. UAE's desire to go beyond being a tourist destination to an international business hub and financial market has resulted in their desire to set up CSR activities. In the UAE the banking sectors are the first to have adopted social responsibility and worked to advance it. Banks like Mashreq, ADCB, and Emirates NBD have actively involved themselves in CSR projects. For this study, ten UAE banks (Islamic and Non-Islamic banks) have been chosen based on purposive sampling to ensure the selected banks are currently or in the recent past involved themselves in CSR projects
Fostering innovation through Industry 4.0 technologies in emerging countries: An explorative multiple case study of Indonesian Internet-of-Things (IoT)-based start-ups
Full text linkThe Industry 4.0 phenomenon is truly remarkable in the industry’s redesign and the transformation of different facets of human life. This trend has also been put on several nations’ national agenda, both emerging and developed, to improve competition in the global business arena. For Indonesia, this phenomenon offers a chance to reshape Indonesia’s manufacturing industry and become another way to boost Indonesia’s goal of being the 10th world’s largest economy. One of the technologies that play a significant role in this phenomenon is Internet-of-Things (IoT) that could boost small businesses’ performance through developing its innovation ecosystem. This research seeks to propose continuous innovation pathways through case studies of functional IoT in Indonesian start-ups. To this end, we use an exploratory research methodology and in-depth interviews to identify IoT and case studies’ fundamental innovation capabilities to explore the process of connecting these attributes to innovation. It results in five factors as main findings to influence the innovation performance: financial resources, government role, perception for supporting small businesses, hybrid research and development, and business model innovation. We also derive the implication of IoT for businesses and the government to support their innovation
Financial development and CO2 discharge in Nigeria
Full text linkThis study examined the effect of financial development, fossil energy use, economic progress, and FDI on environmental pollution in Nigeria from 1981 – 2014 using the ARDL technique. The outcome of the bond test reveals the presence of a long-run association on the variables of the model. The short-run estimate shows that all the variables positively influence CO2. The result of the long-run analysis further indicates that financial progress, fossil fuel, and GDP accelerates the level of CO2 discharge. However, FDI does not explain environmental pollution in Nigeria. Hence, the study suggests that government and policymakers should formulate policies to improve financial development designed to mitigate CO2 discharge by giving directives to financial institutions that all credits allocation should be toward the purchase of low emission technologies and domestic appliances. In addition, environmentalists should enlighten citizens on the danger of environmental pollution and ways to reduce it through public lectures and seminars
Portfolio investment and U.S. monetary policy announcements: An event study analysis using high-frequency data from Mexico
Full text linkWe study how unconventional monetary policy announcements affected the entry of foreign investment in debt and equity in Mexico, placing special focus on announcements related to the third QE program and the taper tantrum episode. A novel dataset on daily debt and equity flows, that maps Balance of Payments data quite well, allows this paper to provide a better insight into movements of capital. The results suggest that both equity and debt flows reacted immediately to unexpected U.S. monetary policy announcements, particularly if these are considered as bad news by investors. In turn, results using weekly data support the idea that investors interested in fixed income instruments move more prudently than those interested in equity which react quickly
The co-movement of Bitcoin and some African currencies – A wavelet analysis
Full text linkThis paper investigated the co-movement between the bitcoin (BTC) and the exchange rates of some African currencies to the USD (United States Dollars) using the continuous wavelet transform (CWT) and wavelet coherence (WTC). This was done for the noisy as well as the denoised series. The CWT for the noisy series suggests high volatility for those who hold the currencies for the short term and low volatility for those who hold the currencies for a long-term period. The CWT of the denoised series suggests that volatility at low frequency is driven by noise, while volatility at a higher frequency is driven by market forces. The wavelet coherence suggests that in the presence of noise, bitcoin will be a hedge for the currencies. However, in the absence of noise, bitcoin is a haven for the Egyptian EGP, followed by the Algerian DZD, then the Nigerian NGN, and may not be a haven for the South African ZAR
External audit quality and clients' corporate governance mechanisms in Nigeria: Any nexus?
Full text linkThis study examined the influence of an entity's corporate governance practices on independent external auditor quality, proxied with auditor industry specialization, in Nigeria. The explanatory research design was adopted. Data were sourced from annual reports and accounts of thirty-five (35) quoted non-financial firms for 11 years from 2008 to 2018. After that, panel regression analyses were employed as the estimating technique for the model specified. The empirical results revealed that independent external audit quality is positively influenced by the firm's size but negatively influenced by board Independence and the proportion of female directors on board. Overall, aggregate explanatory variables adopted in this study accounted for 50% changes in external audit quality. Though these findings largely negate previous ones, they contribute to the extant literature and provide further directions for a future attempt at researching within emerging territories.