Annals of Spiru Haret University
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PERSPECTIVE ON FIRMS’ RESPONSES TO ECONOMIC CRISES
Get PDFThis paper analyzes how firms respond to emerging economic crises. A firm’s response to crisis is a mechanism for survival. It normally evolves out of the impact of the crisis, and it is linked to the strategic goals and operational objectives of the firm. Firms normally pursue one or more of three lines of responses to crises; retrenchment, investment and ambidextrous responses. Responses of firms to crisis are far from predictable or systematic and usually vary from firm to firm. They are predetermined by specific contexts of the firm’s existence. These contexts range from the firm’s size, ownership, sector of operation, history in business, country dynamics and resource capabilities. There is also a tendency for firms to move from one type of response to another during the course of the crisis. Retrenchment is the most preferred form of response, although investment responses tend to have long-term advantages. The study recommends that firms consider ambidextrous responses to realize the synchronized benefits of retrenchment and investment responses to crises. It is also recommended that studies on firms’ responses to crisis should examine firms on a case-to-case basis, identify the particularities of their responses
Peculiarities of the consumption behaviour on the real estate market in Romania in the context of the Covid-19 Pandemic
Get PDFFor many of the developed or developing national economies, real estate markets are areas of activity capable of substantially contributing to the structural good functionality of that economy. Transactions carried out within real estate markets provide logistical support for the proper conduct of a multitude of production activities or services of economic operators, on various levels of the economy. From this point of view, any large-scale crisis that also affects real estate field is a major challenge for the proper revitalization of many sectors and for the re-entry into a normal phase of most trade within economy. The crisis caused by the COVID-19 pandemic is a very special crisis not only because of the world scale and large span, but also because of the many plans on which it acted, economically, socially, politically, biologically, etc. This article aims to delve into the picture of the evolution of the Romanian real estate market during the pandemic, providing the main coordinates of this development and assessments on the implications that these market trends have at both Romanian and European market levels
Rice Production, Consumption and Economic Development in Nigeria
Get PDFIn recent times, rice production has become a topical issue in national discourse in Nigeria. Rice is a major staple food in all the regions of Nigeria. Over the years, Nigeria has imported rice from different countries to supplement local production, thereby putting pressure on the Nigeria foreign exchange. Since 2018, the Central Bank of Nigeria made policies aimed at curtailing the importation of some agricultural products including rice, by ordering the closure of land borders till further notice. The aim of the policy was to restrict the dumping of products such as rice into the country, which could generate an unfair competition with local rice producers. It is against this backdrop that this work investigated the effect of rice production and consumption on economic development in Nigeria, from 1986 to 2018. The data were sourced from the Central Bank of Nigeria Statistical Bulletin. To establish the empirical nexus between rice production, consumption and economic development in Nigeria, the work used the following econometrics tools of data analysis OLS, Unit root test, Johansen Cointegration and Vector Error Correction Model (VECM). The findings of the study prove that there is a significant relationship between rice production, consumption and economic development in Nigeria. In addition, the OLS result established that the relationship between rice import and the gross domestic product in Nigeria is statistically significant. The unit root test results justifies that all the model variables were non-stable at levels but gained stationarity after first difference. The Johansen Cointegration test empirically established that there is a long run convergence between the variables in the model, while the VECM result attested that the model variables are jointly instrumental in eliciting long-run equilibrium. From the foregoing, government is encouraged to support the mechanization and modernisation of rice production in Nigeria, including the introduction of modern equipment, pesticides and improved seedlings needed by rice farmers to increase rice production. This may be achieved through the provision of cheap credits to rice farmers
REVIEW OF ACADEMIC LIBRARY INFORMATION AND HUMAN RESOURCES: EVIDENCE FROM OSUN STATE UNIVERSITY, NIGERIA
Get PDFGenerally, the library is referred to as the knowledge hub of higher education institutions, saddled with the responsibility of supporting the teaching, research, and community engagement function in the university. These libraries are conceived to enable them genuinely handle the information needs of library clientele. In the wake of the COVID-19 pandemic, the human traffic to the physical library shrinks which brings more responsibility to the library personnel who works from home to make the library resources available to users at their various locations. The emerging responsibility motivated this study which investigated the appraisal of academic library information resources and human resources in Sola Akinrinade Central Library of Osun State University in Nigeria. A structured questionnaire was used for data collection. A sample of three hundred and forty-five respondents were selected using a simple random sampling technique. Two hundred and seventy-five copies were returned. Findings from the study revealed that available information resources and human resources in the academic library do not meet the accredited academic library standards. Similarly, the academic library is not sufficiently and adequately funded which has grossly affected the provision of the available information and human resources. The researchers recommend that recruitment of professional librarians and other library support staff; provision of quantity and quality information resources, and integration of academic library in the plan of higher institutions among other measures would improve the relevance of library and human resources in higher institutions of learning
The effect of brand trust, brand satisfaction and customer value on consumers' brand loyalty: in the context of Azerbaijan and foreign brands
Get PDFBusinesses that determine the areas that customers are not satisfied with or that want to make their satisfied customers more satisfied are making a great effort for this. It is not possible for businesses to establish good relations with customers they cannot satisfy and to gain their loyalty. Accordingly, learning what customers want and fulfilling these requests in the best way has become an issue that businesses need to focus on. The aim of the research is to examine the effect of customer satisfaction on marketing in the service sector. In this direction, it was aimed to determine the dimensions of customer satisfaction and to examine the relationships between these dimensions. At the same time, it has been analyzed in detail how the dimensions of customer satisfaction differ according to the characteristics of the customers, which customer characteristics and to what extent the customer satisfaction dimensions are affected
Impact of Audit Quality on Tax compliance in Nigeria
Get PDFThe study examined the impact of audit quality on tax compliance proxy as tax revenue in Nigeria. Specifically, the study investigated the relationship that exists between auditor independence, engagement performance and tax revenue knowing that many times, tax assessment is based on audited financial statement presented by the firms. Survey research design was adopted using primary data sourced from administration structured questionnaire on the respondents selected from among; the staff of Federal Inland Revenue Service (FIRS), academia (Accountants) and practicing accountants/auditors within Ondo State. The ordinary least square (OLS) model was used to analyze data so collected. The R2 adjusted predictive power of the study was 0.623 (62.3%) and the F-statistic at the 0.01 and 0.05 level of significance which are 4.79 and 3.07 and is less than 6.047 which was a clear indication that, auditor independence and engagement performance have a significant effect on audit quality with resultant effect on tax compliance (tax revenue) in Nigeria. The study therefore recommends that auditors should embrace independence and strictly adhere to established standards and procedures laid down by the government, professional bodies when reporting to enhance audit quality at all times; it is believed this will foster tax revenue generation to argument dwindling revenues
THE IMPACT OF OPEN INNOVATION PRACTICES AND MODERATING EFFECT OF INTER-ORGANIZATIONAL NETWORKS ON INNOVATION PERFORMANCE OF LARGE FIRMS IN SRI LANKA
Get PDFInnovation plays a prominent role in the contemporary world. It brings novel products and services to the market while exploring new ways of production, distribution, marketing and impacts all other aspects of organizations including human behaviour through hard as well as soft methods. Open innovation has been introduced as a new paradigm in innovation management. This study examines the impact of open innovation on innovation performance of the listed companies in Sri Lanka with the moderating effect of inter-organizational networks. Open innovation practices have been recognized in this study in two folds - as outside-in open innovation and inside-out open innovation Data were collected through a survey among 165 top-level managers of listed companies in Sri Lanka. The sample was selected using purposive and snowballing sampling methods. After testing the validity and the reliability of the instrument and collected data, simple regression analysis was conducted to test the hypotheses. The study findings indicate that both outside-in open innovation and inside-out open innovation positively and significantly impact innovation performance.
THE EFFECT OF POPULATION AND FINANCIAL DEVELOPMENT ON ENVIRONMENTAL HEALTH IN NIGERIA (1980-2019)
Get PDFIn recent times, environmental health quality has raised issues on dynamics of population, financial development and environmental health quality in Nigeria. The present study has made an attempt to explore interlinks among these variables using Autoregressive Distributive Lag (ARDL) bound cointegration approach. The study period is from1980 to 2019. The coefficient of population has a positive and statistically significant effect on carbon emission proxy for environmental quality for both short and long-run. The coefficient market capitalization (MCP) is statistically significant at 5% level and with the positive sign in the both short-run and long–run. However, credit to private sector has negative and significant impact on carbon emission. Nigeria should develop its financial sector to enhance investment in energy saving equipment that will reduce carbon emission, hence improve environmental quality. Also, the growing population should be encouraged to use the clean form of energy for their daily activities
IMPACT OF ECONOMIC CRISES ON FIRMS: A LITERATURE REVIEW
Get PDFThis paper examines literature that analyzes how economic crises affect firms. Eighty-five studies were examined with the overall aim of finding out the impact of crises on firms. Studies published between 1805 and 2018 were sampled purposively through digital database searches, to establish the most recent literature on the impact of crises on firms. Consequently, the majority of the work assessed focuses on the global economic crisis of 2007 and its effect on firms in a different country and regional contexts. The literature demonstrates that economic crises affect firms negatively and positively with a tendency for crises to affect firms more negatively. Negative impacts include a decline in demand, fall in profitability, debt problems, operational challenges, bankruptcy, loss of goodwill or public image, uncertainty, and scale down of operations. Positive impacts comprise stimulation of efficiency, and improved performance for strategic firms The review further establishes that the impact of crises on firms varies from firm to firm, which requires that to examine the impacts of economic crises on firms requires that the firms are studied on a case-to-case basis.
PERFORMANCE ASSESSMENT OF THE BALKAN COUNTRIES IN THE INFORMATION AND COMMUNICATION TECHNOLOGIES SECTOR
Get PDFThe rapid technological development of the last decades has affected practically all areas of the economy, society, and culture. Almost every aspect of life and work in the modern world to a greater or lesser extent depend on the use of information and communication technologies (ICT). The aim of this paper is to analize the ICT performance of ten Balkan countries and to highlight areas that need further improvement. The analysis is based on the data published by the International Telecommunication Union in annual Measuring the Information Society Report. The research is conducted through comparative analysis and benchmarking method. The ten best-positioned European countries in terms of ICT development represent the benchmark group. The analysis finds low level of national ICT performance of the Balkan countries compared to the selected European countries. The conclusions of this research may serve as guidelines for ICT policy makers in the observed economies