International Journal of Business & Economics (IJBE)
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FINANCE LITERACY AS A TOOL FOR MICROFINANCING: A LITERATURE REVIEW
Get PDFThe research goal of this study is to provide a summary of economic research and literature in the domain of financial literacy. There are 1.7 billion people in the world who do not have access to financial services. One of the goals of the UN Sustainable Development Goals is to reduce poverty through financial inclusion. Financial literacy has risen to prominence as a key element for achieving universal financial inclusion. Financial literacy is defined as the knowledge and ability of a person to understand the financial concepts. There is lack of theoretical framework and quantitative instruments for assessing the impact of financial literacy on financial behaviour. Financial literacy is a major policy issue in the realm of social and sustainable finance. The purpose of this study is to look at the existing literature in the realm of financial literacy and develop a comprehensive definition of financial literacy. For this study, the PRISMA methodology of systematic literature review was used. Financial knowledge, according to the research, does not lead to financial behaviour. Financial attitude plays an important role to transform financial knowledge into financial behaviour. There is need for further research to develop a theoretical framework and a quantitative method for measuring financial literacy. For policymakers and academics, this study will provide thorough insights into the meaning, definition and various dimensions of financial literacy as a concept
PROJECT PORTFOLIO DECISION POLICY ALIGNED WITH ORGANIZATIONAL OBJECTIVES
Get PDFA Markov Decision Process based decision model is proposed in this paper for computation of optimal decision policy for the project portfolios. As projects are one time activity, often sufficient past data is not available for estimation of the input values required for the decision model. This model requires two matrices the state transition matrix and rewards matrix as input. In this paper, Analytic Hierarchy Process is used for estimation of these input matrices through the use of collective wisdom of decision makers. Markov Decision Process is used for computation of the optimal policy. The developed model is applied on a case study
THE EFFECT OF SPORT NOSTALGIA ON DISCRETE POSITIVE EMOTIONS, POSITIVE eWOM, AND REVISIT INTENTION OF SPORT TOURISTS: A CONCEPTUAL FRAMEWORK
Get PDFSport nostalgia has been identified as a key factor to understand sport tourists’ revisit intention. This study is among the first to establish a conceptual model that links sport nostalgia, discrete positive emotions, positive electronic word-of-mouth (eWOM), and revisit intention in the sport tourism context. The conceptual model is based on Stimulus-Organism-Response (SOR) model, because of its theoretical importance. As such, it is a rare attempt to explain the role of upbeat / elation, serenity / calm, warm / tender emotions, and positive eWOM in sport tourism research. This conceptual model will help to understand how sport tourists’ revisit intention can be enhanced and will assist sport marketers and policy makers to establish appropriate marketing strategies related to sport nostalgia. Designing unique, tailor-made and, memorable experiences can increase sport nostalgia, and, particularly, discrete positive emotions, and positive eWOM, in the sport tourism context. A methodological approach is also suggested to empirically test the hypotheses proposed in the study.
SELECTION OF DISTRIBUTION CENTER LOCATION USING FUZZY TOPSIS APPROACH
Get PDFSelection of distribution center location is one of the crucial activities for a company to reduce transportation costs and improve business performance. To select an appropriate location for the distribution center, decision-makers must consider many factors such as availability of labor, infrastructure, closeness to customers and suppliers, expansion capacity, etc. It is very difficult for the decision-makers to select an appropriate distribution center that satisfies all requirements of various criteria. In this paper, the fuzzy technique for order preference by similarity to the ideal solution (TOPSIS) approach is presented to evaluate and select an appropriate distribution center location from many alternative locations. The proposed approach involves identification of potential alternative locations, selection of evaluation criteria, use of fuzzy set theory and linguistic variables to evaluate the rating of alternatives to the criteria, and the fuzzy TOPSIS approach to generate aggregate scores for evaluation and selection of the best distribution location center from all alternatives. The best alternative for a distribution center location is the best alternative with the highest score. An illustrative example is presented to clarify the results and the applicability of the proposed approach. The result can suggest that managers in the company deal with multiple criteria and uncertainty in selecting distribution centers through linguistic parameters. The proposed approach can be practically applied in deciding upon the potential location of the distribution center when the data are vague, imprecise, and uncertain by nature
INDIA’S BITTER SUGAR POLICY: PRODUCTION, EXPORT, SUBSIDY, AND OTHER DISTORTIONS
No full textWhile sugar is widely and progressively highly consumed worldwide, sugar production and exports are highly concentrated among a few countries. This invites many market distortions and demand-supply gaps. India, being the largest producer and the third-largest exporter, creates a lot more distortions than other major producers. Two main sources of volatility are India’s production subsidies and export subsidies. These subsidies violate WTO principles of fair trade and increase volatility for other countries too. In addition, sugar is a disaster crop for India as it gets a high premium of subsidies and therefore crowds out other crops, causes resource diversion and immense groundwater depletion, and harbingers a public health crisis in the form of obesity and life-style diseases. We explore the dynamics of the world sugar market, the sources of all the above distortions and adverse effects of the sugar industry, and explore remedial courses, while keeping in mind the political realities.Keywords: Sugar, Subsidies, Exports, Trade Distortion, Agricultural Policy
DYNAMIC COMMON CORRELATED EFFECT OF COVID-19 AND STOCK RETURN: EVIDENCE FROM CONTAINER SHIP INDUSTRY
Get PDFThis paper investigates the dynamic responses of stock return of container shipping companies to the global container freight indices during the Coronavirus pandemic period. The new econometric approach Dynamic Common Correlated Effects (DCCE) has been used to measure cointegrating relations among cross-sectional units. This procedure provides significant robust outcomes in the presence of cross-sectional dependence. A statistically significant and positive result has been observed between stock returns and container freight indices. The newly developed tests for a structural break were also implemented for our macro panel data. Our results are robust to structural break under different measures of container freight indices
DEVELOPING GLOBAL BRAND BUILDING MODEL IN MANAGEMENT EDUCATION
Get PDFHigher education has changed irrevocably with the advent of globalization, internet technologies and modern methods of learning. Educators' thought process is undergoing a sea of change along with transition towards education brand building. Most of the branding frameworks focus on logo design, style and look & feel rather than covering deeper aspects of building a global brand. This study aims to cover broader aspects of global education brand building from the student perspective and identify key issues emerging economy management institutes face while building a global brand. Mixed method approach was adopted to delve deep into issues in building global management education brands from emerging economies. Open-ended unstructured interviews with 18 education experts resulted in the identification of key attributes and antecedents, also validated with a structured literature review. The extensive literature search resulted in more than one thousand academic research papers, while the structured approach selected 107 peer-reviewed academic articles. This study used quantitative methods with random sampling as the main methodology and utilized structured equation modeling to develop the model. This study's key research findings are that prospective students look at immigration to western countries, global opportunities, and globally recognizable education brands as top reasons while selecting education institutes for their higher education needs. This study's generalizability is fairly limited; however, the model can be extrapolated to other fields to test its validity. This paper brings out a branding framework and global brand-building model for higher education management brands
THE DECLINE IN OIL PRICE PASS-THROUGH TO WAGE INFLATION IN 11 EUROPEAN COUNTRIES
Get PDFA structural break is found on oil price coefficients in wage Phillips curves for 11 European nations that matches the timing found elsewhere. Oil prices fed directly into wage inflation in during the 1960s and 1970s, but had no effect afterwards. The authors develop a model that shows when inflation expectations become unanchored, oil price shocks cause large and persistent increases in wage inflation. These shocks die out when inflation expectations become better anchored
OFF-THE-JOB TRAINING EFFECTIVENESS: THE DIFFERENCE BETWEEN EXPECTATIONS AND EXPERIENCES OF TRAINEES
Get PDFThe purpose of this study was to comprehend the effectiveness of an training intervention. Trainees’ direct reactions to training provide organizations with enough feedback concerning their current training and development efforts. The research hypotheses focused on the efficacy gap between the expectations of trainees before training and their experiences after it was conducted. A purposive sample of 45 participants attending a selling skills training course completed a survey adapted from Chimote (2010). The repeated measures test indicated that experiences did not fulfill expectations. The Chi-square test revealed that age and education did not significantly affect the responses of participants. The results are discussed in addition to future research directions and practical implications
KEY DRIVERS FOR SALES ON HIGH SEA TRANSACTIONS: ISM ENABLED EVIDENCE FROM INDIAN TRADING FIRMS
Get PDFTrade benefits all and no nation is ever ruined by foreign trade. Globally, the policy makers have considered foreign trade as an engine of economic growth, employment generation and foreign exchange accumulations. Sales in High Sea Transaction, also known as High Sea Sales or “String Sales” which takes place beyond the territorial waters of the country of export and the country of import, are considered vital to the economic needs of developing countries like India for a variety of reasons. With disruptions in global supply chain operations due to global pandemic, protective national polices, country-specific trade policies, there is an increasing trend towards the High Sea Sales transactions. In this context, an Exploratory Pilot Survey is conducted to identify the key drivers/motivations for Sales on High Seas factoring feed of larger import firms, bankers, logistics practisers and trade specialists. Subsequently; ISM enabled Modeling is leveraged to understand the key drivers shaping the Sales on High Seas Transactions in India. In this least researched area of prime importance for development and evolution of an enabling trading environment, this study provides insights on key drivers of HSS transactions based on relational mathematical techniques called Interpretive Structure Modeling (ISM). The study lays the base for future research in this unexplored area of trading in regulated markets of the developing countries like India