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SOE’s vs private enterprises and the efficient management of credit risk in CEMAC
Get PDFAbstract. State owned-enterprises (SOEs) influence on CEMAC banking sector has grown considerably, with the potential of affecting both the banks and the private sector. This study aims to determine the influence of borrower’s nature on the improvement of credit risk in CEMAC Sub-region. The methodology used in the study consists of Data Envelopment Analysis and Tobit model. A panel dataset of the CEMAC countries from 2004 to 2014 is constructed from COBAC yearly reports, WDI and The Fraser Institute. The main findings from this research suggest that there is a negative and significant link between the tendency of CEMAC economies of using more private firms than SOEs investments and banking sector efficiency. The negative relationship is explained through weak CEMAC institutions. This study, unlike others studies on banking performances, do not neglect the risk’s particular effect. Indeed, the study even determined the risk-efficiency as the efficiency of the bank in producing healthy loans.Keywords. Bank efficiency; Credit Risk; Public enterprises; Private enterprises.JEL. G28, G14, J16, L33
Triadic explanation of public services marketing
Get PDFAbstract. Although the concept of public service marketing was initially criticized in the marketing literature as confusing, it eventually became widely embraced by marketing scholars. Marketing scholars agreed that by the end of the 1970s there was no longer any serious controversy among marketing scholars about public service marketing concept. However, despite this apparent agreement among marketing academics, public administrators and academics in public administration areas have not unanimously embraced the utility of the concept of public services marketing. Two objectives formed the framework for this study: What are the assumptions, conceptualizations and disciplinary perspectives underlying the public services marketing concept? Can a superior conceptualization(s) be developed which is likely to be acceptable to a larger proportion of public services providers? Paper suggests three alternative conceptualizations of public services marketing.Keywords. Service marketing, Public service, Exchange, Redistribution, Reciprocity.JEL. L30, L31, L33, M30, V31
Can portfolio returns exceed market return? An examination of the efficient market hypothesis for the Indian stock market
Get PDFAbctract. The paper explores the possibility of forming portfolio of stocks that can generate returns higher than the market over a time period. Various principles are used for portfolio formation in the year 2013, and it is examined whether such portfolios have been able to generate excess returns over the next five years. Data has been used for Indian companies which are listed in the National Stock Exchange and Bombay Stock Exchange. Further, our sample consist of companies that have in operation over this period, have earned profits each year, and have consistently paid dividends in each of the years. The period under consideration has seen upswings and downswings, and it is our interest to explore whether our portfolios have been able to generate excess returns. Our results provide interesting insight into portfolio formation and also structuring of mutual funds.Keywords. Portfolio, Price/earnings ratio, PEG ratio, Dividend yield, Net profit margin, Excess returns.JEL. G11, G14, G23, G24
The new models of decision in risk: A critical review of the literature
No full textAbstract. The aim of the risk decision theory is to describe the behavior of agents in the face of several random prospects. Since it is difficult to describe these preferences, we seek to represent them. The use of a representative function of preferences has been for a long time, the usual method of describing behavior in a random context. The obvious advantage of this method is that it allows including these data in a formalized model and, by extension, to understand the optimization process underlying any decision. The determination of the representative function of preferences must be based on an axiomatic basis. From these axioms, an accurate specification of the value function will be derived. The purpose of this article is to examine the history of theories that have sought to determine a satisfactory criterion for responding to the risk decision problem and to analyze the contribution of these models.Keywords. Risk aversion, Expected Utility (EU), Rank Dependent Expected Utility (RDEU), Gamble.JEL. D81, C91
Is PTI ready to take the step to glory: The price for prosperity in Pakistan
Get PDFAbstract. The paper presents a hypothetical scenario where Pakistan and India are able to resolve bilateral disputes including Kashmir and within a peaceful South Asia, Pakistan under next five years emerge as an economic power where there is no poverty.Keywords. Prosperity, Welfare, Prices.JEL. D60, I11, I30
Green accounting: Developing versus developed economies
Get PDFAbstract. Businesses and corporates have started to formulate strategies to opt for environment-friendly and green operations. The same has also conceived the idea of green accounting that emphasizes taking environmental factors into account of corporate financial consideration and reports. Less to date, have made a comparative review for those progresses of green accounting in the developed versus developing economies, and to offer insights for academics and practitioners. This article offered a compact discussion of this issue and provides suggestions to theory and practices.Keywords. Green accounting, Developing economies, Developed economies.JEL. C23, F62, N17
Transnational entrepreneurship: An interview with Carlos Arevalo, CEO of Trilegis in el Salvador
Get PDFAbstract. Interest in transnational entrepreneurship has expanded in recent years. However, there are limited qualitative surveys that shed light on the mindset of the contemporary transnational entrepreneur. This article contributes to academic and business literature by presenting the views of an El Salvador born executive Carlos Arevalo. Carlos Arevalo is CEO of Trilogis, a transportation company in El Salvador that is operating in several international locations. Through an interview conducted by Dr. J. Mark Munoz of Millikin University, with the assistance of business student Kimberly Tejada, Arevalo shares his viewpoints on transnational entrepreneurship and its business implications.Keywords. Transnational entrepreneurship, Entrepreneurship, International business.JEL. L26, M16
The increasing risk of mortality in breast cancer: A socioeconomic analysis between countries
Get PDFAbstract. The risk of mortality in breast cancer among women is a critical health issue worldwide. Scholars argue that breast cancer mortality rates have decreased in many advanced countries overall. However, about 50% of world population in 2017 was in poor and developing countries (more than 3,652 million with 50.24% female) and breast cancer mortality rates differ among nations also because of socioeconomic factors. This study investigates, at global level, breast cancer mortality in association with breast cancer incidence and some factors of socioeconomic ecosystem between poor and rich countries, to explain trends that can be used to gain insights into country-level “best practices” for health improvement. Global data regarding breast cancer incidence and mortality as the age standardized rate per 100,000 population in 78low-to-middle income countries (LMICs), 50 upper-to-middle-income countries (UMICs) and 63 high income countries (HCIs) were obtained from IARC/WHO for 2012 and 2018. Data regarding GDP per capita, population and mammography (MMG) were obtained from World Bank, United Nations and WHO. Data, transformed in log scale to have normal distribution, were analyzed with descriptive statistics, partial correlation, regression analyses and paired-Samples T Test procedure to assess the statistical significance of increase or decrease of mortality and incidence in breast cancer from 2012 to 2018.Results reveal that a 1% higher level of breast cancer incidence, increases the expected mortality by 0.79% (p-value < .001) in LMICs, by 0.50% (p-value <.001) in UMICs and by 0.31% (p-value < .008) in HICs. These results, confirmed by other analyses here, seem to suggest that breast cancer mortality is increasing over time worldwide in rich and in particular developing countries. The global analysis here reveals that though an improvement of wealth and wellbeing worldwide, the risk of incidence and mortality in breast cancer is increasing. This result suggests that situational factors in the ecosystem of countries support the growing increase and mortality of breast cancer that improvement in healthcare and medicine of the last 40 years are not been sufficient to slowdown. These conclusions need for much more detailed research to investigate into the interaction between factors of socioeconomic systems, health improvement, and breast cancer causes.Keywords. Breast cancer, Wealth of nations, Epidemiology.JEL. I14, I15, I18, I39, O10, O3, O55, Q50
An Analysis of the Impact of RMB Depreciation on Hong Kong
Get PDFAbstract. Hong Kong is one of the main economies operating a currency board system today. With its currency fixed to the U.S. dollar, the system has functioned successfully since it was restarted in 1983. The last time it faced severe challenges was during the East Asian financial crisis of 1997-98. However, with the comparatively large depreciation of renminbi (RMB, and sometimes referred to as Yuan) during the past two years, a rising question is how Hong Kong might be affected by a possible future crisis originating from China. In this paper, we examine the impact of RMB depreciation on Hong Kong, with a focus on three sectors of Hong Kong’s economy: foreign direct investment, external trade, and tourism.Keywords. RMB, China, Hong Kong, Asian financial crisis, FDI, Trade, Tourism, Retail sales.JEL. E39, O53