Annals of Spiru Haret University
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The Significance of Life Insurance Sale Management for the Development of the Financial Market
Full text linkLife insurance companies as institutional investors are key participants in the global financial market. By collecting the savings of the insured, accumulating large amounts of funds and their long-term investment into various financial instruments, these companies affect the development and stability of the financial market. Considering their significance, the aim of this paper is to determine the determinants of life insurance demand by analysing the environment in which these companies operate on the European financial markets, in order to detect the possibilities for increasing the sale of life insurance policies, and thus the amount of collected amount that will be invested in the financial market for a long term. Based on the research results, determinants that may encourage the life insurance demand in European countries are determined and the recommendations on how to manage the sale of life insurance policies, with the aim of increasing the amount of collected funds
MODELLING THE ECONOMIC INFLUENCE OF TRANSPORT SYSTEM ON TOURISM PERFORMANCE. THE EXPERIENCE FROM LAGOS STATE, NIGERIA
Full text linkGlobally, travel and tourism opportunities are highly sought-after by most nations, but very few developing nations, including Nigeria, play good supporting roles to benefit from the profitable and lucrative industry. The reasons for this are not unconnected to the poor investment in tourism infrastructure, especially transport, to support tourism activities and sustain tourism performance. It is against this background that this study modeled the economic influence of the transport system on tourism performance using Nigeria’s Lagos State experience. This study is anchored on an ex-post facto research design and relies on quantitative data from the relevant ministries of the Lagos State Government. Both descriptive (charts and graphs) and inferential (multiple linear regression analysis) statistics were methods of data analysis. Major findings revealed that only the annual revenue from transport system services out of the nine (9) evaluated performance indicators showed internal consistency and a positively increasing growth pattern. Furthermore, research found that the level of transport investment has a statistically significant relationship with the performance of the tourism industry (. Meanwhile, findings also revealed that there is a statistically significant relationship between the transport system’s revenue and tourism performance (. Given these, this study affirmed that the tourism performance greatly depends on the transport system’sinvestment and revenue and concluded that the fluctuating and poor tourism performance in Lagos State, Nigeria, is a function of the transport system's economic influence. Thus, this study recommends, among others, consistent investment and improvement in the transport system, most especially the infrastructure that will support tourism activities and increase tourism revenue
SUSTAINABLE BANKING PRACTICES ON SOCIAL AND ENVIRONMENTAL RISK MANAGEMENT IN NIGERIA
Full text linkThe study aims to show how effective risk management can be implemented in the Nigerian banking industry, as well as how various risks associated with Nigerian banks' performance can be mitigated by following the sustainable banking principle, which encourages effective risk management in Nigerian banks. A survey research design was used in this study. The population of the study is 19,982 members of staff that are in all the First Bank branches across Nigeria. The officers that are needed for this research are management staff, risk officers, sustainability officers, and accountants. The estimated number of risk officers and sustainability officers in all the First Bank branches across Nigeria are 1650 and 1805 respectively. The total number of relevant officers for this research is 257 in number which is selected from five major branches and the Headquarters of First Bank in the whole of Nigeria. The sample size was 157. Data collected were analyzed using a statistical package for social science students (SPSS) while Chi-square was used to test the hypotheses formulated. The two hypotheses which were tested in the research work showed a clear indication of the positive contribution of sustainability principles adoption on risk management, profitability, and bank reputation in First Bank Plc. The two hypotheses tested showed chi-square test values of 11.949 and 15.834 with a p. Value of 0.018 and 0.0003 which shows that the tests are statistically significant at a 5% significance level. It was concluded that the banks' goodwill had increased tremendously as a result of their sustainability, which boosted their external image and attracted more customers through word-of-mouth advertising, which is very effective in Nigeria. The government should therefore encourage banks to adopt sustainable banking as an important component of their critical strategy for long-term goals and sustainability that improve people's lives, according to the recommendation
YOUTH UNEMPLOYMENT SYNDROME IN NIGERIA: A CASE FOR REVIEW AND POLITICAL INVOLVEMENT
No full textNigeria's youth unemployment rate is at 54.4% in the last quarter of 2020 (National Bureau of Statistics, 2020) which thus gives us an obvious reality of the danger of ever-increasing youth unemployment flooding the landscape of Nigeria, while several governmental initiatives in time past have not been able to help in curbing youth unemployment challenges in Nigeria, this study adopt the systematic review analysis in assessing the capacity of apprenticeship and informal sector capacity in reducing youth unemployment in Nigeria. This study calls for apprenticeship modernization and informal sector support in reducing youth unemployment in Nigeria as both apprenticeship and informal sector were proven to be significant measures in reducing youth unemployment in Nigeria.
THE IMPACT OF INVESTMENT IN RESEARCH AND DEVELOPMENT ACTIVITIES ON THE PROFITABILITY OF PHARMACEUTICAL COMPANIES: A COST ACCOUNTING APPROACH
Full text linkInvesting in research and development (R&D) activities greatly impacts the assessment of the company’s finances and performance, which is why the issue of the accounting treatment of these costs is so important. The aim of this paper is to examine the relationship between investment in R&D activities and the profitability of pharmaceutical companies, i.e., to see whether R&D activities can affect the financial position and performance of 30 pharmaceutical companies in the period from 2010 to 2020. The obtained results show that investing in R&D activities has a positive effect on net income, earnings before interest and taxes, and earnings per share (EPS)
IMPACT OF COVID-19 ON THE LABOUR MARKET IN KENYA
Full text linkThe outbreak of the corona virus affected peoples’ way of life hugely across the globe. The resulting effects shocked even the most advanced companies. The effect of the virus has not only affected the health and well-being of people, but also their economic well-being. Globally, various governments introduced mitigating measures including lockdowns, restrictions on movements, curfews, social distancing, mask wearing and, finally, vaccination programmes. This study aimed to establish how COVID-19 affected the labour market in Kenya; how the pandemic affected workers differently; what new skills were required for workers to cope with the pandemic; and training programs that were initiated for workers during and after the pandemic. The study gathered information from a group of key stakeholders, totalling 20, both from the public and private sector
DIGITALISATION OF WORK PROCESSES IN THE NIGERIAN UNIVERSITY SYSTEM UNDER THE NEW NORMAL
Full text linkThe global spread of the coronavirus (COVID-19) has left a world with changing work situations in its trail. What started as some innovative electronic processes (e-processes) to enhance workflow and ensure effective service delivery in the Nigerian University System (NUS) gained momentum during the COVID-19 period and has opened new and bright opportunities for e-processes in the aftermath of COVID-19. However, inspite of the numerous advantages of a progressive digitalisation of work processes in the NUS, the perceived challenge has been that of mixed reactions from the workforce. While a few of the workforce appear to be equipped and favourably disposed to the new normal, a larger proportion seem unprepared and somewhat apathetic to the present demands for a 21st Century efficient and effective service delivery methods in the NUS. The objective of the paper is to appraise the introduction, benefits and challenges of e-processes in the NUS especially in post COVID-19 era. It relied on primary (participant observation) and secondary (documents) sources of data and was guided by the Innovation Diffusion Theory. The paper explored critical issues of e-processes and result-oriented management under the new normal in the NUS and made appropriate recommendations for both management and staff. In view of its flexibility and benefits, the paper concludes that, so far, digitalisation of work processes in the NUS has expanded the speed and efficiency of processing documents, thereby, enhancing the welfare of stakeholders
 
THE INCIDENCE OF THE PANDEMIC CONTEXT ON THE SOCIAL EXCLUSION AND MATERIAL DEPRIVATION IN ROMANIA
Full text linkIn Romania, social exclusion highlights a reality that removes the perspectives of sustainable development of social equity and economic stability. The pandemic context caused a major discrepancy between national socio-economic environments, placing Romania first in the European ranking regarding the level of social exclusion and material deprivation. The insufficient space of the labor market, the intensity of unemployment, the government restrictions imposed to limit the pandemic context argue the alarming statistics of social exclusion, while the policies and strategies implemented to ensure an honorable standard of living for the Romanian population do not show notable results, limiting the possibilities reducing the level of poverty. The purpose of the article is to measure the level of social exclusion and material deprivation in Romania, formulating sustainable proposals for improving the quality of life of people whose socio-economic status is at the limit of existence
EXPLORING THE RELATIONSHIP BETWEEN ECONOMIC CONVERGENCE AND SALARY LEVELS IN DEVELOPING COUNTRIES: A CASE STUDY OF AZERBAIJAN: Analysis of the relationship between economic convergence and wage level in general and in the case of Azerbaijan
No full textThe purpose of this paper is to examine the relationship between wage levels and economic convergence in developing countries. Although the topic was approached from a broader perspective at the beginning of the article, more specific factors were mentioned in the continuation. Here, the economic growth in many countries of the world, the rate of salary level, changes in the level of welfare of the population and the economic convergence trends of those countries are examined.
Although Azerbaijan was chosen as the main research object to analyze the issue more concretely, as mentioned above, the general aspects of the developing countries of the world are studied. This will lead to a comparison of the experience of Azerbaijan and the world in this field and, as a result, a more accurate analysis.
The article talks about the factors that have a greater influence on the salary levels and economic convergences of developing countries. Analyzes are made, results are obtained and recommendations are made.
This article contains useful information about economy of Azerbaijan, other countries of the world for those study this topic
PERCEIVED EMPLOYEE FINANCIAL WELL-BEING IN THE BANKING INDUSTRY IN THE 4IR PERIOD: ASSESSING PREDICTORS’ IMPACTS
Full text linkThis paper evaluates the influences of financial behavior, work engagement, and work engagement on financial well-being within Nigeria’s Banking Industry. Its sample was taken from four (4) banks in the Nigerian states of Lagos and Oyo. They include First Bank of Nigeria, First City Monument Bank Plc, United Bank for Africa Plc, and Zenith Bank Plc. The present researcher dispersed the questionnaires at random for this cross-sectional survey. Nevertheless, 382 of the 400 questionnaires sent met the criteria for investigation and were examined using SPSS version 28. The present investigation conducted standard multiple regression and zero-order correlation analyses to test the stated hypotheses and conclude that positive financial behaviors and employee work engagement considerably increase financial well-being. In Nigeria's banking industry, financial stress, on the other hand, worsens financial well-being in the 4IR period. It further establishes a link between financial behavior and financial stress and a good correlation between financial behavior and work engagement. Furthermore, the study discovered a negative association between financial stress and work involvement in Nigeria's banking industry during the 4IR period. It also confirms that work engagement, financial stress, and financial behaviors substantially determine financial well-being. Consequently, this paper advocates banks helping employees become more financially literate and responsible by offering financial education to their staff. Also, employers must take action to reduce financial stress among employees. Resources and assistance can help reduce financial stress and enhance employee well-being in the present 4IR period. Moreover, banks may use tactics including offering chances for employee growth, encouraging work-life balance, and cultivating a positive work environment to boost engagement in the banking industry.