Prizren Social Science Journal
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DRIVING SUSTAINABLE DEVELOPMENT: EMPIRICAL EVIDENCE ON RENEWABLE ENERGY INNOVATION AND CARBON INTENSITY REDUCTION IN BRICS ECONOMIES
Full text linkThis study empirically examines the role of renewable energy innovation in promoting green GDP growth while reducing carbon intensity within BRICS economies. Utilizing panel data econometrics and dynamic System GMM estimation over the period 2010–2022, the analysis integrates innovation indices, patent data, and R&D expenditures to capture technological progress. Results indicate that renewable energy innovation significantly enhances green economic growth, supported by complementary factors such as human capital, financial development, and foreign direct investment, while carbon emissions from energy use negatively impact growth. These findings underscore the critical importance of fostering innovation ecosystems, strengthening human capital, and improving institutional frameworks to accelerate sustainable development in emerging markets. Policy recommendations include targeted investments in clean technology R&D, financial incentives for green innovation, and regulatory reforms to attract quality FDI for sustainable energy transitions
AWARENESS, ATTITUDES, AND CHALLENGES OF PRE-SERVICE TEACHERS IN INTEGRATING EDUCATION FOR SUSTAINABLE DEVELOPMENT (ESD)
Full text linkThe paper explores pre-service teachers' awareness, attitudes, and challenges in integrating Education for Sustainable Development (ESD) into their future teaching practices. ESD aims to equip learners with the knowledge, skills, attitudes, and values necessary to shape a sustainable future, addressing global challenges such as climate change, resource scarcity, and social inequities. Given the critical role of teachers in fostering sustainable mindsets, this study explores pre-service teachers' awareness of ESD, their attitude toward the concept, and the challenges to implementing it in the classroom. Using a quantitative approach, data were collected through surveys from pre-service teachers in various training programs. The findings reveal diverse levels of awareness, with many pre-service teachers recognizing the importance of sustainable education yet expressing uncertainty about effective integration strategies. The study highlights the need for curriculum adjustments in teacher education programs to ensure that pre-service teachers have the content knowledge and practical skills to incorporate ESD into their teaching confidently. These insights offer valuable implications for educational institutions aiming to strengthen sustainability-oriented teaching frameworks and contribute to global efforts toward a more sustainable future
LIQUIDITY INSURANCE, CREDIT MARKET FRICTIONS, AND CORPORATE RESILIENCE: AN ASSESSMENT OF POST-FINANCIAL CRISIS LINE OF CREDIT FOR CANADIAN FIRMS
Full text linkThis paper investigates the role of lines of credit (LOCs) in supporting Canadian firms’ financing and investment behavior in the post-financial crisis period, with particular attention to their function as liquidity insurance during systemic shocks such as the COVID-19 pandemic. Using firm-level data and econometric analysis, the study demonstrates that LOCs mitigate liquidity constraints, enhance corporate financial flexibility, and sustain investment capacity, although their effectiveness is moderated by firm size, leverage, and profitability. The findings further reveal that while large and financially robust firms gain significant benefits, smaller firms continue to face barriers in accessing LOC facilities. Moreover, systemic stress conditions highlight the dependence of LOC effectiveness on the stability of the banking sector and macroeconomic policy interventions. The study contributes to the growing body of empirical evidence by emphasizing the need for robust regulatory frameworks, enhanced banking sector resilience, and targeted policy interventions to ensure equitable access to liquidity insurance mechanisms. These insights hold significant implications for policymakers, banks, and firms seeking to strengthen corporate resilience and macro-financial stability in Canada’s evolving economic landscape
FIRM CHARACTERISTICS, MARKET STABILITY, AND THE DYNAMICS OF STOCK PRICE CRASHES: EVIDENCE FROM FIRM-LEVEL DATA IN EMERGING MARKETS
Full text linkThe paper examines the risk of stock price crashes in emerging markets based on structural and governance features of companies. The analysis based on a balanced sample of 2010-2023 firms, as well as random-effects generalized least squares (GLS) regression, examines how leverage, firm size, firm age, and board size are associated with the probability of a crash event occurring. The findings indicate that the size of firms has a significant impact on the crash risk as the greater the size the less vulnerable it is, and the larger the board size the greater is the monitoring role of corporate governance mechanisms. The age of the firm is partly affected, as both reputational capital and structural rigidity are present, and leverage is statistically insignificant in explaining the risk of crashing. The robustness of the findings is supported by sensitivity tests of the fixed-effects, random-effects, and robust OLS models and the post-estimation diagnostic shows that there is no multicollinearity, autocorrelation, and heteroskedasticity. The results show that governance-based regulatory changes and transparency at the firm level play a significant role in reducing stock price crashes, hence, playing a crucial role in ensuring financial stability in the emerging markets
DETERMINANTS OF AGRICULTURAL TRADE OPENNESS, AND THEIR LINK TO ECONOMIC GROWTH: A CASE OF SADC COUNTRIES FROM 2000 TO 2021
Full text linkThis study evaluates the determinants of agricultural trade openness, exports, and their link to economic growth in the SADC region, using secondary panel data from 2000 to 2021. Countries in SADC have limited access to the advantages that are as a result of trade openness and agricultural exports. The aim of the study will be to analyse the determinants of agricultural trade openness, agricultural exports and the link to economic growth in the SADC countries from 2000 to 2021. Both fixed and random effects models are employed for estimation: the fixed effects model controls for individual country-specific factors, while the random effects model assumes no such correlation and allows for time-invariant variables to be estimated . Results show that agricultural GDP positively influences trade openness, indicating that increases in agricultural production encourage greater trade openness in the region. In contrast, the year variable has a negative effect on trade openness, suggesting a declining trend over time. These relationships vary across the broader regional context of 16 countries, highlighting the heterogeneity in trade dynamics within SADC
THE IMPORTANCE OF EFFECTIVE DECISION-MAKING IN THE PERFORMANCE OF HUMAN RESOURCES IN BUSINESS
Full text linkAll small or large enterprises, private and public, profitable or unprofitable, regardless of field where they operate need to be managed. All organizations, to achieve a goal, engage a number of resources: human, material and financial. In this context, the manager in the work process unites and coordinates all resources to achieve the goal. The manager uses the most adequate forms to face the competition more efficiently, and to be more successful in the market in increasing the organizational objectives. Practices have proven that the decisive factor for the success or failure of a business is the ability or inability of the management team. The responsibility of the manager in our society is decisive not only for the organization but also for the public attitude towards the management for its success and status, for the future of the economic and social system, and the survival of the organization as an independent institution. Decision making refers to a specific act, or a general process. The decision maker must understand that the decision is necessary and must identify a number of reasonable alternatives before selecting one of them. The decision-making process involves understanding and defining the nature of the situation, which requires making decisions, identification of alternatives, selection of alternatives and its implementation. Effective decision making is done when the decision-maker understands the situation that requires making the decision and solving the problem. An effective decision is one that optimizes a number of factors, such as profit, sales, workers' well-being, etc
STRATEGIC ADAPTATIONS AND VOLATILITY DYNAMICS: MODELING LISTED PRIVATE EQUITY IN SOUTH AFRICA
Full text linkThis paper uses advanced econometric methods to explore the statistical properties, volatility dynamics, and macroeconomic determinants of Listed Private Equity (LPE) investments in South Africa from 2010 to 2023. The key objectives include testing for non-normality in LPE returns and assessing volatility clustering. By employing GARCH-family models, the study effectively captures asymmetric and long-memory effects in LPE returns. A VAR model combined with Impulse Response Functions quantifies the impact of macroeconomic shocks, revealing that inflation imposes a significant and sustained adverse effect on LPE returns. In contrast, GDP growth exerts a weaker, short-lived positive influence. The findings also highlight the dynamic Relationship between corporate strategies and market volatility, showcasing how firms adapt to and influence volatility through diversification, hedging, and sectoral realignment. These results are consistent with contemporary theories on strategic responses to volatility (Jiang et al., 2021).
Furthermore, the DCC MGARCH results suggest minimal volatility spillovers within the South African LPE market, indicating reduced systemic risks and opportunities for adequate portfolio diversification. The study provides a framework to enhance risk management and informed decision-making within South Africa's LPE market. Future research should extend these insights by investigating cross-border spillover effects and examining how regulatory frameworks can stabilize the LPE sector
HARNESSING 4IR TECHNOLOGIES FOR THE DEVELOPMENT OF HUMAN CAPITAL THROUGH ONLINE LEARNING IN AFRICA
Full text linkWith the advent of the fourth industrial revolution (4IR), emerging technologies and calls for workforce preparedness through upskilling and re-skilling across the globe, many academic institutions have fully embraced the blended learning format. The blended format combines online and face-to-face teaching and learning formats. The COVID-19 pandemic accelerated the adoption of online learning methods, and many continued with it post-pandemic, leveraging its benefits such as flexibility, accessibility, and continuous skill development. This study examines how 4IR technologies can be harnessed for human capital development through online learning in Africa. The key objectives are as follows: determine the role of online learning in harnessing 4IR technologies, establish the benefits of online learning in human capital development and strategies for effective implementation of online learning. A desktop research approach was utilised in this study. A systematic literature review was employed to gather evidence on harnessing 4IR through online learning in Africa. Data was collected using the Google Scholar and Scopus databases, and only peer-reviewed research articles were reviewed. The findings reveal that Africa knows 4IR technologies' potential in developing human capital despite various challenges in harnessing these technologies, such as infrastructure and connectivity limitations, the digital divide, and the skills gap. To harness the new technologies effectively, this study recommends collaboration between industry and academia and integrating emerging technologies in online learning platforms
IMPACT OF ECONOMIC GROWTH, ENERGY USE, AND INDUSTRIAL ACTIVITY ON CARBON EMISSIONS IN SOUTH AFRICA USING WAVELET-BASED TIME-FREQUENCY ANALYSIS
Full text linkThis study investigates the dynamic relationship between carbon dioxide (CO₂) emissions, economic growth, energy consumption, and industrial output in South Africa from 1990 to 2022. Employing a combined approach of Autoregressive Distributed Lag (ARDL) modeling and wavelet coherence analysis, the research captures both long-run elasticities and localized time-frequency dependencies among the variables. The findings reveal that economic growth, energy consumption, and industrial activity significantly drive CO₂ emissions, highlighting the environmental challenges accompanying South Africa’s development path. Policy implications emphasize the need for integrated strategies focusing on energy efficiency, renewable energy adoption, and green industrialization to achieve sustainable growth. The study contributes to the literature by providing nuanced insights into the temporal and spectral dimensions of emissions dynamics, offering valuable guidance for policymakers pursuing climate change mitigation in emerging economies
THE ROLE OF PRODUCT, PROCESS, AND MARKET INNOVATION IN DRIVING THE GROWTH AND SUSTAINABILITY OF MICRO-INSURANCE BUSINESSES IN NIGERIA
Full text linkThis study investigates the impact of innovation on the growth of micro-insurance businesses in Nigeria, focusing on product, process, and market innovation. Employing a descriptive research design, data were collected from 228 employees of five selected insurance companies using structured questionnaires. Descriptive and inferential statistics, including multiple regression analysis, were employed to examine the relationship between innovation dimensions and micro-insurance growth. The findings reveal that all three innovation types significantly influence business growth, with process innovation exhibiting the strongest effect, followed by market and product innovation. The study underscores the importance of innovation-driven strategies in enhancing operational efficiency, customer acquisition, and market penetration in the Nigerian micro-insurance sector. Policy implications include the need for regulatory incentives, digitalization of operations, and expansion of distribution channels to promote financial inclusion and sustainable growth. The study contributes to the theoretical understanding of innovation-led growth and provides empirical evidence for policymakers and industry stakeholders