Oghenenyerhovwo Rita Inoni1 and Chiyem Okorie2
The largest number of studies on the determinants of the consumer’s decision to purchase washing machines have explored the influence of the price, the product quality, the perceived value and related constructs without the effects made by consumption emotions. Therefore, the purpose of this study is to determine the impact of brand quality, consumption emotions and socioeconomic factors on the consumer’s decision to purchase washing machines in Nigeria’s Delta State. The data used in the study were obtained from a cross-section of 385 consumers drawn from Asaba, Sapele and Warri, the three most populous towns in Delta State. The results show that brand quality, consumption emotions and socioeconomic variables, such as the household size, the education level and income are the significant determinants of a decision to purchase washing machines in the study area. The significance of emotions as predictors of a purchase decision underscores the need for manufacturers of electrical home appliances to ensure that the design and functionality of their products elicit the positive emotions that will foster customers’ attachment and loyalty to a brand in order for the manufacturers to maximize their revenue and sustain a profit.
Nyore Sandra Ofogbe, Chidiebere Nnamani, Chika Anastesia Anisiuba and Charity Nkeiru Ezuwore-Obodoekwe
This study is aimed at analyzing the influence of Corporate Social Responsibility (CSR) on the Cost of the Capital (CoC) of the companies quoted on the Nigerian Stock Exchange (NSE). The annual panel data of the 32 companies quoted on the NSE pertaining to the period from 2005 to 2019, were judgmentally selected. The Thomson Reuthers Index was used as the measure for CSR, whereas the Cost of Equity (CoE) and the Cost of Debt (CoD) were used as the measure for CoC. The findings revealed the existence of a positive/negative nonsignificant relationship, on the one hand, and a positive/negative significant relationship as well, on the other, between CSR and CoC. The results obtained are supportive of the findings found in scholars’ works, especially those in the developed countries in which this aspect has extensively been explored. To conclude, the companies that spend on CSR have a better chance of accessing capital at a better and low cost. Based absolutely on the findings, the researcher advocates that investment should incessantly be made in the issues concerning CSR, given the fact that, if consistently made, such investment may ease access to funds at a reduced cost.
Anh Thu Nguyen1 and Thi Mai Thanh Tran2
The Association of Southeast Asian Nations (ASEAN) considers trade facilitation as a driving force in forming a single market and a single production base. This paper constructs an ASEAN scorecard for measuring the performance of trade facilitation strategic plans by ASEAN member states. Next, a structural gravity model is used in the paper in order to estimate the trade facilitation performance influence on ASEAN trade flows. The fact that the indicator of easing Nontariff Barriers (NTBs) and institutional coordination, on the one hand, and the ASEAN member states’ engagement indicator, on the other, had the highest enforcement scores in ASEAN in the period 2017-2019. Those two indicators also exert the biggest influence on ASEAN trade flows, especially ASEAN extra-regional trade.
Adedayo Emmanuel Longe1, Caleb Olugbenga Soyemi2, David Adeiza Agbanuji3, Oladayo Omitogun1 and Idowu Jacob Adekomi2
The study accounts for the structural break effect in the context of Nigeria. According to the findings obtained, the linear Autoregressive Distributed Lag (ARDL) bounds test reveals that the possibility of a long-term co-integrating relationship is inconclusive. When the study further accounts for asymmetry and the structural break period, however, the Nonlinear Autoregressive Distributed Lag (NARDL) bounds test reveals that there is no long-term co-integrating relationship among the variables in Nigeria within the specified period. According to the results of the NARDL test, both the positive and the negative changes in the oil price and energy use have a negative significant impact on economic growth in Nigeria in the short run, whereas the Consumer Price Index (CPI) exerts a positive and significant impact on economic growth in the short run. The Error Correction Model (ECM) result shows that the independent variables can correct about 94% of the short-run deviation of economic growth from equilibrium in the long run. The study concludes that, irrespective of the changes in the Bonny Light crude oil price, its impact remains the same on the Nigerian economic growth.
Biljana Đorđević1, Sandra Milanović2 and Jelena Stanković1
Communication is one of the processes that take place within a company. However, employees may be more or less satisfied with the communication that takes place in their work environment. Thus, if employees are satisfied with communication inside their company, such communication satisfaction can be expected to have a positive impact on job satisfaction (JS). Employee JS can initiate many other positive consequences in terms of their attitudes and behaviors. One way to achieve this is to increase satisfaction with internal communication. Starting from the above-mentioned, the subject matter of this paper is to examine the relationship between communication satisfaction (CS) and JS on the example of employees in companies in the Republic of Serbia. This research study is aimed at determining whether there is a connection between these phenomena or not. The sample consists of 202 employees. The results of the study have shown that the bivariate correlation between CS and JS is positive. In addition, the results of the study have shown that several dimensions of CS have a statistically significant impact on employee JS.
Hasnan Baber1 and D. Tripati Rao2
The decision on immediate lockdown in India put economic, social and religious activities to a grinding halt. The paper examines the impact of the lockdown and social distancing policies on economic activities in India, using a multivariate econometric model for the data collected in the period from 1st January to 31st August 2020. While the social distancing policy is captured in terms of internal movement, domestic travel and international travel restrictions, its effect on the economic activity and the business activity is captured through stock prices, purchasing managers’ index and the exchange rate. Confirmed COVID-19 cases and related deaths are also used as the independent variables. The results reveal a significant negative impact of social distancing policies on the economic activity and the business activity, the stock market and the exchange rate. Furthermore, the economic stimulus provided by the Government could not bring a positive influence on the stock market.
Santosh Borkakati and Konthoujam Gyanendra Singh
Fiscal responsibility law has become an important instrument for better fiscal management and ensuring fiscal discipline, particularly so in the federal countries where their subnational governments often indulge in fiscal indiscipline. In 2003, India adopted the Fiscal Responsibility and Budget Management Act for rule-based fiscal discipline, and the states of India were also asked to adopt their own fiscal rule legislation in line with the legislation adopted by the central government. As a fiscally weak Indian state, Assam enacted the Assam Fiscal Responsibility and Budget Management (AFRBM) Act in 2005 for better fiscal management. The paper attempts to examine the impact of the AFRBM Act on the fiscal performance of the state by analyzing the dynamics of the fiscal variables in the pre- and post-AFRBM Act periods. The study finds that the state has improved its fiscal condition after the introduction of the AFRBM Act, even though it has remained prone to fiscal shocks.
Luan Thanh Nguyen1, Tuyen Quang Tran2 and Hang Minh Tran3
Ethnic minorities in Vietnam account for only 15% of the population, but their poverty levels total more than 70% of the national poverty rate. Foreign aid has been an important financial resource supporting the socioeconomic development of ethnic minorities in Vietnam. Based on the empirical research in ethnic households conducted in nine provinces throughout the country, the effect of foreign aid on household income was estimated using the OLS regression model. The results show varying effects in the magnitude and significance among different ethnic groups. Specifically, aid has significantly improved the livelihood of the Cham and Xtieng populations, whereas the results for the Hmong population are detrimental. Consequently, it is suggested that aid and the ethnic policy should be reconsidered in order to reduce inequality among ethnic groups.
Mladen Krstić1 and Ksenija Denčić Mihajlov2
The role of the Government in the implementation of the Corporate Social Responsibility (CSR) concept into the business policy in the field of recycling in the Republic of Serbia is analyzed in this paper, with a special overview of the End-of-Life Vehicle (ELV) and Waste Electrical and Electronic Equipment (WEEE) recycling. The research has shown that quite different government approaches to these two independent waste streams are the most responsible for the differences in the amount of the recycled products in the analyzed period. The fact that the so-called self-regulatory CSR observed in the recycling of the used cars in the previous period caused a substantial reduction in the volume of official car recycling is pointed out herein. This indicates that, although car recycling is a financially profitable investment, it is not enough to motivate potential investors to carry out this process through official waste streams in compliance with regulations. On the other hand, in the field of e-product recycling, CSR facilitated by the government has further motivated investors, resulting in an increased amount of recycled e-products.
Goran Nikolić1 and Predrag Petrović2
The International Monetary Fund (IMF) forecasts a gradual slowdown in the, otherwise strong, growth of the Chinese economy in the first half of the 2020s, and the anemic growth of the Western economies: the US and, especially, the EU27. Given the practical (and symbolic) importance of reaching ‘the number one economy’ status, the primary objective of the paper is to estimate the GDP (and the GDP PPP) of the observed economies over the next decade. The main contribution and finding of this paper is the estimation of future GDP trends for the US, China and the EU27 in the period 2025-30, based on the previous trends and the IMF 2020-24 projections. China’s economy will become globally leading in 2029-2030. The basic research hypothesis is proven, given the fact that a change in the global economic position implies significant geopolitical consequences. Namely, while the US will almost certainly remain the leading global power in the 2020s, with the EU still continuing to focus on itself, China’s economic growth will have rising global consequences, fueling the move towards the dispersion of authority. This conclusion is in line with the claims of the majority of the relevant authors who emphasize the increasingly limited possibility of the US unilateral actions.