Research & Innovation Initiative Journals
Not a member yet
234 research outputs found
Sort by
Firm\u27s Value Prediction Based on Profitability Ratios and Dividend Policy
Get PDFPurpose: This study aims to empirically prove the research framework regarding the Firm’s Value based on Profitability Ratios associated with Dividend Policy. The firm\u27s Value is measured using a Price-to-Book Value (PBV) Approach.
Methods: This study included a sample of 11 firms under the automotive and components sib sector listed in the Indonesia Stock Exchange. It included data for the period of 2014-2018. This study applied path analysis using the Sobel test of the direct and indirect effects using IBM SPSS 23.0.
Results: The study finds that Profitability Ratios has no significant effect on the Dividend Policy, while the Dividend Policy has no significant effect on Firm\u27s Value too. However, the Dividend Policy does not mediate the effect of Profitability Ratios on the Firm\u27s Value.
Implications: This study could be extended further by considering all listed firms of IDX which may provide us more insights into the measurement of the financial ratios in the context of Indonesia
Profitability Determinants of Palm Oil Marketing in Umuahia Agricultural Zone of Abia State, Nigeria
Get PDFPurpose: This study aims to ascertain the profitability determinants of palm oil marketing in Umuahia Agricultural Zone of Abia State, Nigeria.
Methods: Data on socio-economic characteristics of the respondents, cost, and returns of palm oil marketing in the area were collected using a multi-stage sampling technique from 60 palm oil marketers in Abia State. A descriptive statistical technique, marketing margin, profitability models, and the ordinary least squares multiple regression techniques were used to analyze the data obtained.
Results: The empirical analysis showed that palm oil marketers mean age to be 47 years with a household size of 5 persons. 77% of the palm oil marketers were males while only 23% were females. The mean marketing experience of the palm oil marketers was estimated to be 16 years. The gross and net marketing margins were estimated at N55, 288.91, and N54, 076.91 respectively. The marketing margin was found to be ?81,221.22 and profitability was estimated at 0.33. Age, household size, education, and marketing experience were statistically significant at 5% and influenced the profitability of palm oil marketing in the area.
Implications: Considering the net profit obtained from palm oil marketing in the area, there is a need to intensify its management and marketing strategies to further harness more profitable outcomes in the future. Also enabling environment should be created to make production and marketing of the product less stressful, especially for women entrepreneurs
Fiscal Policy and Stock Market Development in an Emerging West African Economy: The Case of Nigeria
Get PDFPurpose: This article presents a study on the effect of fiscal policy on stock market development in an emerging West African economy with an emphasis on Nigeria for the period of 1986 to 2018. Specifically, we evaluated the effect of fiscal deficit on all share index including government total expenditure on market capitalization ratio, the value of stock traded, and turnover ratio using data from the Central Bank of Nigeria (CBN) and Nigerian Stock Exchange (NSE).
Methods: The Auto-regressive Distributive Lag (ARDL) was the estimation technique employed in ascertaining the nature of the short-run relationship between fiscal policy and stock market development indices, whereas the effect of fiscal policy on stock market development was actualized under the granger causality analysis.
Results: The result of the analysis revealed that fiscal deficit has no significant effect on all share index; government total expenditure has no significant effect on stock market capitalization ratio; government total expenditure has a significant effect on the value of stock traded ratio; government total expenditure has no significant effect on the stock market turnover ratio.
Implication: Government should implement its fiscal policies to carefully accommodate the development of the stock market, as changes in fiscal policy affect the overall activities in the market and ultimately the economy
Sexual Harassment at Workplace: A Systematic Review of Literature
Get PDFPurpose: Globally, sexual harassment is a burgeoning issue, which has been witnessed everywhere. Gripping the gravity of its significance, the present study sets forth to explore the reasons of sexual harassment in organizational settings.
Methods: Following the three-stage approach, a systematic review of the available literature was done extensively. A list of 3380 articles published from 2010 to 2019 were derived from widely explored databases, such as Taylor and Francis Online, Science Direct, JSTOR and Emerald Insight. 67 studies were selected from the list based on their relevance and suitability.
Results: From the extensive literature review, it is revealed that there are five dominant reasons for the widespread sexual harassment, namely ‘inadequate governmental laws and organizational policies,’ ‘perceptions and attitudes,’ ‘male dominance’, ‘power differentials and organization structure’ and ‘cultural influence’.
Implications: To abate its further disastrous consequences, the present research proposes some intervention by linking the current observation with the previous empirical and theoretical studies. Directions for the future research are also provided
Private Sector Credit and Entrepreneurial Growth in Nigeria (1986 – 2018)
Get PDFPurpose: The role of entrepreneurial activities in the economic development process cannot be underestimated. How entrepreneurial growth in Nigeria has been affected by commercial banks’ credit to the private sector was examined in this study.
Methods: Autoregressive Distributive Lag (ARDL) was the estimation technique applied, while the Granger Causality was for effect assessment using annual data from 1986 to 2018.
Result: The study found that entrepreneurial growth in Nigeria was significantly affected by private sector credit.
Implications: There is a need for banks to cut down their fee on lending to entrepreneurs. Commercial banks charge as high as 22 percent to give loans to the private sector, and this is considered among the highest in the world. This makes it difficult for entrepreneurs to access fund from banks which make them resort to co-operative societies for finance. Equally, the Central Bank of Nigeria should lower the monetary policy rate to a single digit, let say 9 percent as against the current rate of 14 percent. This to a reasonable degree will make banks at least lower their fee/interest rate to lend to entrepreneurs
Non-Oil Exports and Manufacturing Sector Growth in an Oil-Rich Country in Africa: Case of Nigeria
Get PDFPurpose: This paper presents an analysis of the effect of non-oil exports on the manufacturing sector growth in an oil-rich country in Africa – Nigeria from 1986 to 2018. In clear terms, we evaluated how manufacturing sector capacity utilization is affected by non-oil exports.
Methods: The Ordinary Least Square (OLS) estimation technique was applied in estimating the model and was lagged by two years. The long-run relationship was determined using the traditional Johansen co-integration methodology. How manufacturing sector growth is affected by non-oil exports was evaluated using the Granger Causality technique. The Augmented Dicky-Fuller (ADF) and Phillips-Perron tests were applied to check the stationarity properties of the data.
Results: The growth in the manufacturing sector in Nigeria has not been significantly affected by non-oil export despite the various non-oil export promotion strategies initiated by the government.
Implication: A major implication of the finding is that the cost and access to financial services for non-oil exporters should be reduced or relaxed by the Central Bank of Nigeria. High-interest rates charged by commercial banks and little disbursement characterized by the volume of commercial banks credit affect manufacturing firms concerning acquiring modern plants and machinery which results in a poor quality of non-oil exports
Effect of Board and Audit Committee Characteristics on Profitability: Evidence from Pharmaceutical and Chemical Industries in Bangladesh
Get PDFPurpose: The objective of this study is to investigate the relationship between corporate governance (CG) elements, namely board characteristics (board size, independence, expertise) and audit committee characteristics (audit committee size, independence, expertise) with profitability, present by two proxy ROA and ROE.
Method: This study includes all listed firms of DSE in Bangladesh under the category of pharmaceutical and chemical industry, i.e. total 31 firms for 3 years from 2015/16 to 2017/18 means 93 firm year observations. Theoretical model of the study is framed under agency theory. This study applied panel data set in regression model Using Fixed-Effects with Driscoll and Kraay’s Standard Errors to test the hypothesis by STATA 13 software. The study model also consider two control variables: firm size and leverage according to literature.
Results: Empirical result of the study presents that board size, board expertise and audit committee size have significant positive relationship with both proxy of profitability i.e. ROA and ROE. Moreover, audit committee expertise has significant negative relationship with ROA but insignificant relationship with ROE. However, all other variables does not have significant influence on profitability.
Implications: This study will extend the literature of CG and profitability in an emerging economy like Bangladesh. Agency problem can be solved with more vigilant practice of CG. This study could be extended further by considering all listed firm of DSE which will give us more insight of CG practice in Bangladesh
The “Automobile Religiosity” in Iran: A Study on Religious Meanings and Functions of Automobile in Contemporary Tehranian Culture
Get PDFAlthough the automobile has had common functions among various cultures, some unique patterns of car consumption, as secondary functions, appear in each society proportional to cultural and social backgrounds. What makes "the automobile in Iran" different is that it has been transformed into a religious object affected by society\u27s religious structure. The present paper endeavors to find motivations and manners of this transformation to decoding religious semiology and categorize religious functions of the automobile.
To achieve the deepest layer of consumers\u27 motivations, a qualitative method in the framework of grounded theory was chosen. We collected our data by deep semi-structured interviews with car consumers in Tehran, in addition to field observations, pictures and films. These data were analyzed in an analytical-descriptive method.
The study led us to the main category saying that the automobile represents religious identity. This is usually exposed by two main strategies, the inside automobile activities and manipulating of the automobile\u27s appearance, and is revealed in three models of secondary function: resistive, confirmative, and privacy function. These functions represent a new religiosity in Iran that can be called the “automobile religiosity.
The Essence of ‘Social’ in Social Entrepreneurship
Get PDFIn order to expand our understanding of social entrepreneurship in the emerging entrepreneurial world, this study attempts to derive the essence of the term ‘social’ of ‘social entrepreneurship’. Prior studies have defined social entrepreneurship from different perspectives. The paper reviews and evaluates the current status of research dealing with entrepreneurship, in general, and social entrepreneurship, in particular. By using the archive method of research, the proposed study rests on the recognition that the \u27social\u27 intention of the entrepreneurs is the primary factor in differentiating social and traditional entrepreneurship. The paper concludes with the implications for practitioners and directions for future research
Estimating Economic Effectiveness of Economic Infrastructure: A Methodological Exploration
Get PDFPurpose: Economic Infrastructure is a prerequisite for economic development. To this end, it is necessary to reveal the theoretical background for estimating the effectiveness of economic infrastructure and establish the methodology for estimating the effectiveness. Until now, there have been a number of qualitative and quantitative studies that investigate the effect of infrastructure on the economy. However, we can hardly say that there is an agreed-upon methodology for estimating such effectiveness. The aim of this paper is to solve methodological problems arising in estimating the effectiveness of infrastructure in terms of economic, physical-value, and spatio-temporal aspects.
Methods: The first section of the paper discusses theoretical problems for estimating the effectiveness of economic infrastructure. For this, we analyze the preceding studies on economic infrastructure as an economic concept, and on this basis, systemize its specific features and roles in a new way. The second section illustrates the main indicators and methodology for estimating the effectiveness of economic infrastructure. In this section, we apply various indicators related to physical and value aspects to suggest the methodology for estimating the space-time effectiveness of economic infrastructure.
Results: Based on the drawbacks of the previous approaches, this paper finds the rationality to estimate the economic effectiveness of economic infrastructure using the benefit to cost approach rather than the functional approach.
Implications: This study can be of significance to the policymakers or investors in decision-making related to infrastructural investment. They can calculate the economic effectiveness using the proposed methodology, upon which they can select optimal infrastructural projects for the short term or long term