Economics, Management and Sustainability

How does the wealth level of nations affect their COVID-19 vaccination plans?

2023-10-24T10:32:42+03:00

This study uses global data to examine how vaccination levels correlate with socioeconomic, institutional and political variables across 150 countries. Results demonstrate that as a country's economic development, measured by GDP per capita, increases, so does the percentage of vaccinated people, reaching a peak of 70%. Furthermore, countries with Monarchy and Parliamentary Monarchy exhibit higher vaccination levels among their populations compared to countries with mixed Executives. In this context, manifold countries are implementing restrictions and bureaucratic rules, such as green pass/vaccine reports, to boost vaccination levels by regulating various public and private life aspects that potentially impact individuals' well-being. The discussion elucidates the underlying causes of these sociopolitical phenomena within the context of social insecurity. All these results can provide valuable insights for policymakers, aiding them in crafting sustainable policy responses to address not only COVID-19 but other similar epidemics, all while not adversely affecting nations' economies and social structures.

An empirical analysis of inflation's influence on income inequality in Lithuania

2023-10-22T10:21:45+03:00

Income inequality is a growing problem worldwide, especially in developed countries, with adverse social, economic, political and health consequences. In 2017, the goal of reducing poverty and inequality was included in the United Nations' seventeen Sustainable Development Goals list. Despite this, governments are not paying enough attention to tackling the problem, and inequality continues to rise. To take appropriate measures to reduce income inequality, it is essential first to understand the underlying causes, as this can help to tackle the problem at its root. Many different factors have been identified as impacting income inequality, one of which is inflation. Inflation is currently at an all-time high in the country, reaching as high as 19.7% in 2022. This makes it particularly difficult for low-income earners to make ends meet, as buying necessities is becoming harder and harder. Given that rising inflation, due to geopolitical factors, is also an issue in Lithuania and throughout Europe, it is essential to analyse the relationship between income inequality, as this can help us make the right decisions in tackling both problems. This study aims to identify the impact of inflation on income inequality in Lithuania. The research methods used to achieve the objective were graphical analysis, literature analysis, correlation analysis and regression analysis. The study shows a linear relationship between the Gini coefficient and inflation, as measured by the change in the GDP deflator, in Lithuania over 2008-2021, but that the impact of inflation on inequality is observed after one year. Similarly, a parabolic relationship is found when examining the impact of a change in inflation, as measured by the change in the GICP, on income inequality. However, changes in producer prices significantly impact income inequality only after three years. An analysis of the impact of changes in the prices of different commodities on income inequality reveals that, over the period analysed, the main contributors to inequality have been increases in the prices of oil, gas, food, and non-alcoholic beverages. Inflation directly impacts income inequality in Lithuania, so policymakers should consider it when formulating social policy.

Analysing the influence of accounting conventions on the financial performance of commercial banks in Kenya

2021-11-13T22:07:08+02:00

The collapse of some commercial banks in Kenya in the recent past has raised the question of the credibility of financial information as a tool for investors to make informed decisions. The study sought to analyse the disclosure practices of accounting conventions on the financial performance of commercial banks in Kenya. The following specific objectives guided the study: to establish the influence of the disclosure, consistency, prudence and materiality of financial reports on the performance of commercial banks in Kenya. A cross-sectional survey was adopted. The target population was 42 respondents who formed the sample size by the census method. The data was collected through questionnaires, secondary data and annual reports and analysed quantitatively and qualitatively. Quantitative data was analysed using descriptive statistics and inferential statistics. The finding shows a moderate positive relationship between disclosure and the performance of commercial banks. The relationship is significant (r = 0.322, p>0.01). The result shows a moderate positive relationship between consistency and performance of commercial banks. The relationship is significant (r = 0.369, p>0.01). The results also show a moderate positive relationship between prudence and the performance of commercial banks at a significance of (r=0.500, p>0.01). On establishing the relationship between materiality and performance of commercial banks, it was found there is a moderate positive relationship with a significance of (r = 0.317, p>0.01). Respondents indicated that the consistency of financial reports has little effect on the net profit of commercial banks. Respondents indicated that prudence of financial reports leads to better organisational performance. The materiality of financial reports affects organisation performance. Prudence in financial reporting affected the decision-making among the investors in the banking industry. The study recommends that commercial banks' management ensure transparency, honesty, consistency and reliability during financial reporting.

The role of micro, small and medium enterprises (MSMEs) towards community welfare in Medan City

2022-05-31T11:17:12+03:00

In pursuit of a prosperous life, individuals possessing the capacity to create business opportunities often play a pivotal role in meeting the fundamental needs of their communities. One of the prominent channels through which such endeavours manifest is the establishment and operation of Micro, Small, and Medium Enterprises (MSMEs). This research is dedicated to comprehensively examining the profound impact of MSMEs on the community's welfare. Employing a descriptive qualitative approach, the study was conducted within the MSME sector of Medan City. The outcomes of this study underscore the profoundly positive influence of MSMEs on various facets of the community's well-being, including healthcare, education, income levels, housing conditions, and access to communication technology. The results affirm the crucial role of MSMEs in fostering economic growth and elevating the quality of life for the residents of Medan. This research sheds light on the multifaceted contributions of MSMEs to enhancing community welfare, demonstrating their significance as agents of positive change in pursuing a prosperous society.

The effect of COVID-19 in estimating the South African real spot-rate curve

2023-07-27T11:31:29+03:00

This study investigates the dynamism of different mathematical term-structure models during COVID-19 to estimate the South African real spot-rate curve. The study is based on term-structure models following Nelson-Siegel framework; and further incorporates the recalibration process on static term-structure models over different economic environments. It was found that the recalibration methodology resulted in no improvements on Linear-parametric and Cubic-splines term-structure models. However, the recalibration effect on Nelson-Siegel and Svensson models resulted in an improved fit for South African inflation-indexed spot rates even in periods of heightened market risk.

Communication strategies for municipal success: Insights from KwaZulu–Natal, South Africa

2022-05-18T16:48:17+03:00

Communication is the adhesive that binds people irrespective of their backgrounds. It is the skill of passing information from one person to another. However, effective communication deals with understating emotions and intentions behind the information. Therefore, managers in leadership positions need to understand the manner in which the best effort can be obtained from the workforce, following which communication systems management should be reviewed to ensure it is effective. The aim of the study is to establish whether communicating effectively with employees could improve employee performance in a municipality. In this regard, the study ascertained the extent to which the sharing of ideas creates openness among municipal employees, in addition to whether regular feedback contributes to improved municipal employee performance. Furthermore, the study also investigated whether open channels of communication mitigate misunderstandings and whether the recognition of employee opinions increases employee performance. To establish the stated objectives, the study used a mixed method research approach, employing both quantitative and qualitative methods. Data were collected from the uBuhlebezwe Municipality, where a sample size of 80 respondents was obtained by using a simple random sampling technique. For the qualitative research, 10 employees were gathered by means of convenience sampling, through a focus group at the Ray Nkonyeni Municipality. The results from both methods showed that effective communication was the best tool to change employee performance in municipalities, acting as a catalyst. However, this is largely dependent on the effectiveness and availability of channels of communication. The main recommendations to municipal managers and heads of departments are that they should use effective communication as a strategic tool and appreciate all employee opinions, regardless of their positions in an organisation. Managers in a municipal setting should also involve employees in decision-making, most importantly during policy formulation. It is further important that municipal employees are provided with sufficient resources to be able to perform their day-to-day duties, as inadequate resources lead to poor performance and lack of communication. The provision of regular and honest feedback to employees with regard to their strengths and weakness could additionally improve employee performance and increase productivity. Conversely, lack of communication could lead to misunderstandings and incorrect interpretation of information messages by employees.

Antecedents of marketing climate change adaption construction materials: Evidence from Ghana

2023-02-28T14:34:18+02:00

Purpose: Climate Change affects all countries in the world. It impacts negatively on the living conditions of humankind, especially livelihood, temperature change, rainfall regime, and rise in tidal waves. Design/Methodology/Approach: The population in the real estate industry. A descriptive design was used, including questionnaires, to gather data. Since the study sought to examine the willingness to purchase accordingly, a logit regression model was used to predict the likelihood that the dependent variable willingness to pay (WTP) equals 1 (rather than 0). Findings: Income level, price of the products, respondent’s age, gender, and availability of policies concerning eco-friendly products and identified associated health risks positively influence respondents’ WTP. The study reveals that in the real estate sector of the Ghanaian economy, there is a positive WTP eco-friendly roofing product; hence, entrepreneurs and investors should take advantage of the urgency to reduce the impact of climate change in Ghana by investing in eco-friendly products for both the real estate and construction sectors of the economy. Recommendations: The results show that any eco-friendly roof material must raise consumer awareness about the effects of climate change and shape consumer perceptions.

Evaluating managerial competence of small, medium and micro-entrepreneurs to ensure sustainable economic development in eThekwini municipal area

2022-05-17T12:38:50+03:00

This research investigates the influence of Small, Medium, and Micro Entrepreneurs (SMMEs) on sustainable economic development in the eThekwini Municipal Area of South Africa. It focuses on the capability of SMME managers and operators to efficiently and effectively utilise available resources, ensuring their enterprises make a meaningful contribution to sustainable economic growth. Data was gathered from a diverse set of SMMEs in the eThekwini Municipal Area using a simple random sampling method, with 229 entrepreneurs participating. Key findings reveal that entrepreneurs underscore the importance of knowledge, skills, value judgments, behavioural traits, and social networks in establishing and operating successful businesses. A notable challenge identified was their limited ability to identify viable business opportunities. Nevertheless, these entrepreneurs demonstrate a commitment to maintaining their local environments and providing employment opportunities to community members, and some contribute to community development initiatives. The primary recommendation emerging from this study is providing support and tools to assist potential entrepreneurs in effectively recognising and seizing business opportunities.