International Journal of Academic Reserach in Economics and Management Sciences

Finding the Dividing Line between Tax Sharing and Grants: A Cross Sectional Investigation

2024-08-22T04:09:30-06:00

Sub-central government (SCG) funding arrangements, particularly tax sharing arrangements and intergovernmental grants, are often difficult to disentangle. Statistical databases, including Fiscal Network statistics, do not always provide coherent and comparable data on these arrangements. To overcome such data weaknesses, a test was applied on all tax sharing systems and intergovernmental grants. This test, using four criteria, helped to distinguish the various SCG revenue arrangements. Applying the four test criteria allowed drawing a coherent and comparable dividing line: between tax sharing arrangements and intergovernmental grants and, within tax sharing arrangements, between strict tax sharing and tax sharing. The study found that the dividing line between “tax sharing” and “intergovernmental grants”, as shown by data bases such as National Accounts or Revenue Statistics, remains unchanged for most countries. However, few Countries would have to reclassify some tax sharing as intergovernmental grants or vice versa.

The Role of Public-Private Partnership Contracts in Tourism Industry Development

2024-08-23T00:53:53-06:00

Tourism industry is the largest service industry in the world that can bring numerous economic, cultural and social benefits for countries. Tourism development and enjoying the revenues of this industry entails building the facilities needed in which, unfortunately, most governments do not have sufficient expertise and capital. Private sector investment through different patterns of public-private partnership is an effective contractual approach, which provides conditions where both the public and private sectors can proffer their own capabilities to the project in order to maximize efficiency, at the same time that it supplies the project’s needed capital. In this study, the approach adopted by some countries regarding public-private partnership contracts in tourism industry and also Iranian regulations have been investigated. It appears that, according to the characteristics of the partnership agreements, in case of the required legal bases being provided, this method has appropriate capabilities for using in tourism projects, particularly in sample areas of tourism.

Aspects Regarding Responsible Communication as a Marketing Priority of the Modern Company

2024-08-22T23:15:59-06:00

Addressed in an empathic and intelligent manner, the way companies communicate can transform from an effort to manipulate to a valuable service offered to consumers. The present paper aims to explore the most important characteristics that a company's communications should have, the strategies to be adopted and the technical solutions which can be exploited in order to be able to delight clients with a great communication process. The research goals were set taking into account aspects of an ethical, psychological, legislative, economic and technical nature, which act systemically on customers' perceptions. The most important part of the research consisted in analyzing the information systems available on the market which can be used by organizations in the process of relating to their customers. The main contribution of this study consists in pairing up the characteristics of a responsible company-to-consumer communication process with practical solutions, offered by modern information systems.

Education, Mandatory Condition in the Regional Economic Development of Romania

2024-08-22T03:38:29-06:00

The education system has undergone many changes over the past decade leading to dropout and low educational attainment of the population that continue their studies. Characterized by various system problems such as inefficiency, irrelevance of studied subjects and the inability to create opportunities for young people to enter the labor market later, the Romanian educational system needs a reboot in order to reduce regional disparities identified at the country level and in comparison with the members of the European Union. The main objective of this paper is to demonstrate the low rate of young people that finish mandatory school and to make contributions in order to meet the Europe 2020 Strategy for a future, more competitive workforce.

Gender Differences in the Predictors of Career Indecision of Secondary School Students in Kenya

2024-08-23T00:29:13-06:00

The purpose of this study was to determine the predictors of career indecision by gender. A sample of 359 (162 male and 197 female) secondary school students were surveyed on career indecision, career readiness, locus of control, vocational identity, self esteem, social support and career decision making self efficacy. Using multiple regression analysis, the predictor variables were able to account for 32.9 % of variance in males and 32.8% variance in females. Career readiness and vocational identity emerged as the strongest predictors of career indecision for female students while career readiness, external locus of control and vocational identity emerged as the strongest predictors of career indecision for male students. The results demonstrate the importance of providing students with adequate career information, encouraging them to explore and engage in activities related to career decision making and helping students come up with clear career goals.

The Study of Relationship between Managers Power Sources and Organizational Communication Effectiveness in Isfahan Agricultural Bank

2024-08-22T05:36:07-06:00

This purpose of research was study of relationship between manager’s power resources and organizational communication effectiveness in Isfahan Agricultures’ Bank. Research type was descriptive correlative. Statistical population of research included all personnel bank (312) that by random stratified sampling method 127 were selected. To gather data, two questionnaires were used: power resources questionnaire with 20 items in terms of five components and organizational communication effectiveness questionnaire with 25 items on base 5 likert scales. Content validity confirmed by experts. The reliability coefficients of questionnaires were obtained through Cronbach alpha as 0.87 for power resources and 0.81 for organizational communication effectiveness. Collected data was analyzed at level of inferential statistics (t-test, Pearson correlation coefficient, regression and analysis variance) by used spss 18 statistical software. Finding showed mean of power resources and organizational communication effectiveness were higher than average (3). Highest mean is related to expert power component (3.8). Also observed r showed significant and positive relation between references, expert, reward and legitimacy powers with organizational communication effectiveness in Isfahan Agriculture Banks.

Entrepreneurship, Employment and Sustainable Development in Nigeria

2024-08-23T00:17:54-06:00

This paper investigated the potency of entrepreneurship to generate employment, thus, underscoring the quintessence, significance and relevance of this sub-sector in the sustainable development of any given economy. The objective of the paper is to examine entrepreneurship, employment and sustainable development nexus in Nigeria. Data sourced from Central Bank statistical Bulletin, National Bureau of statistics, World Development Indicators and CIA Fact Sheet and other institutional publications to provide empirical basis for the study spanned from 1980-2013. The methodology adopted in this research is the use of co integration and Vector Error Correction Mechanism (VECM) which established the long-run and short-run estimates of the parameters. On the long-run estimates, employment (LEMPL) and average capacity utilization (LCAP) are found to be statistically significant implying that employment and capacity utilization can be generated through entrepreneurship for sustainable development. Industrial Production index (LINPI) on the other hand is wrongly signed implying that it does not contribute to LHDI (sustainable development) for the period under review. The short-run estimates also show the significance of the parameters in respect to LEMPL and LINPI. The error correction mechanism (ECM) is rightly signed and significant. It shows that the speed of adjustment of the model from short-run distortions to long-run equilibrium is about 12.7%. The diagnostic tests of unit root showed that the variables are integrated of order one, I (1). This means that though individually the variables are non-stationary, a linear combination of the variables was stationary, hence they are co-integrated. Based on the findings the study recommends that if the Nigerian government must revitalize its economy, reduce unemployment progressively, and generate more employment opportunities for sustainable development, a paradigm shift in policy that is critical to effective entrepreneurship development becomes imperative. This can be done through building more capacity utilization and creation of enabling environment for industries to thrive.

Statistical Analysis of the Capital Structure of the Chemical Industry in Hungary and in the Carpathian Basin in 2013

2024-08-22T05:18:40-06:00

The study examines the capital structure of the companies operating in the Hungarian chemical industry in the period of 2004-2013. First the database is presented which was used for the examination, than the linear regression, the multivariate statistical method which was used for the identification of the relations between the indicators. The next part is the descriptive statistical analysis of the indicators determining the way of business, the changes are explained at company level as well. The trend analysis of the capital structure indicators affects the chemical industry in the neighboring countries also, so the financial policies of the different time horizons will be compared. The main conclusion of the study is that in the examined countries the chemical companies are characterized by a different capital structure policy and the composition of the explanatory variables show significant differences. The earlier formulated theories are only partially valid considering the examined sample, although beyond the involved index numbers the macro factors play a significant role in the explanation of the model as well

The Concept of Entrepreneurship in the Smart Economy

2024-08-22T23:53:55-06:00

Proximity between the concept of "smart economy" and entrepreneurship is achieved by understanding the mechanism of the labor market that requires understanding the mechanisms of the market in general, if we consider the labor demand-work supply relationship, but also of some psycho-social connotations, when we relate to pricing work. By developing the concept of "smart economy" it is intended to identify measures to stimulate entrepreneurship in order to smartly, sustainable and inclusively develop economy by harnessing creative potential, innovative ICT skills specific for the human capital.

Macroeconomic Determinants of Economic Growth in Nigeria: A Co-integration Approach

2024-08-22T04:17:22-06:00

The study examines the macroeconomics determinants of economic growth in Nigeria measured by real gross domestic product (RGDP). We used time series data obtained from CBN for a period of 26 years that is 1986 to 2012. Augmented Dickey-Fuller (ADF) test was used for the unit root test and Johansen’s co-integration test was also conducted to establish short and long run relationships between economic growth and its macroeconomics determinants. The result shows six co-integrating equations which establish the existence of long run relationship among the variables. Ordinary Least Square statistical technique was used to assess the degree of influence the variables have on each other. The results show that gross fixed capital formation, foreign direct investment and total government expenditure are the main determinants of Nigeria economic output under a stable inflationary rate. The study recommended that there is need for government to consciously develop the business environment by provision of necessary infrastructure, which will lower the cost of doing business in Nigeria. There is also the need for the government to retain tight monetary and fiscal policies in order to fight inflation in the Nigerian economy, since inflation have negative influence on investment and Nigeria economic growth and finally, There is needs to put stringent policy in place to minimised strike in Nigeria labour sector in order to enhance their performance to the nation economy.

The Perception of Ethics Related To The Marketing Targeted to Children in Romania

2024-08-22T23:21:49-06:00

The responsibility of a company in relation with the consumers translates primarily by addressing and treating them ethically, respecting the rules and principles of moral, legal and deontological. The situation is more delicate when the targeted consumers are children.

This paper proposes, starting from the author’s constant concern about the problematic of the children as target market, to investigate how the marketing practices in Romania are seen as ethical in relation to the consumer as child. For this purpose, 24 interviews were conducted with parent dyads from diverse urban environments, of medium and large size (Bucharest, Iasi, Constanta, Cluj, Brasov, Bacau, Timisoara, Craiova), having various income levels, between 850-1500 lei per capita, average education level and above average, eight couples for each significant age groups (3-6 years, 7-12 years, 13-16 years). The main goals of the present research were to identify the perception of the ethics in the marketing efforts, to identify the level of ethics perceived related to the marketing efforts targeted to the children in Romania, to reveal those marketing practices perceived to be ethical/fair, to emphasize the marketing elements considered to be appropriate in strict relation to the children segment in Romania

Does Trade Openness Make Sense? Investigation of Nigeria Trade Policy

2024-08-22T03:48:57-06:00

The empirically examined whether trade openness makes sense, using Nigeria trade policy as yardstick. Considering the framework of the traditional trade theories which postulate that trade has positive impact on economic growth, the study employed Autoregressive Conditional Heteroscedasticity (ARCH), Generalized Autoregressive Conditional Heteroscedasticity (GARCH) and Pairwise-Granger causality methodology using secondary data from 1984 to 2013. Results show that trade openness has a significant impact on economic growth. This implies that trade openness make sense in Nigeria given that most of the period under investigation ranged from when Nigeria adopted unrestricted trade policies. The control variables (interest rate and exchange rate) have significant positive effect on economic growth in Nigeria. The pairwise Granger causality test shows that there is a unidirectional causality between economic growth and trade openness at lag one only.

The Impact of the Capital and Financial Account Balance on Jordanian Export Price Index (2000-2014)

2024-08-23T00:45:47-06:00

Standard figures have a role in the assessment of changes in the prices of commodities, as well as the figures of agricultural and industrial production and exports. A standard figure can be defined as a statistical figure which is used in measuring the relative change in the prices or quantities of a certain phenomenon from one time to another, or from one place to another. Standard figures are used in statistical applications in research, in which the various conditions of the different countries are evaluated through the study of the several variables in the future. This study aims at exploring the nature financial and capital accounts at the central bank of Jordan, as well as identifying their effects on the standard figure of the prices of Jordanian exports for the period (2000-2014), by employing the SPSS software and the t-test. The results of the study showed the existence of a positive correlation (α =0.05) between the financial account and the standard figure of the prices of Jordanian exports for the period (2000-2014) , which applies also to the capital account and its correlation to the standard figure of the prices of Jordanian exports for the period (2000-2014). The value of the total correlation coefficient was (0.744) , and the variable of the financial account has an effect and a high predictable power concerning the standard figure of the prices of Jordanian exports for the period (2000-2014), and the absence of an effect and a predictable power for the financial account on the standard figure of the prices of the Jordanian exports for the period (2000-2014)>

European Integration and Market Economy Europe – A New Economic Order

2024-08-22T05:48:05-06:00

The world is changing around us fast again, the end of world war two which founded the first European integration work which yielded finally to the European Union in 1951 can be now the same reason for further integration. The global economic competition for domination world markets from several world powers transformed globalization into a war. For the EU the challenges as a union are increasing and are not stopping but also becoming harder, 2012 was mostly about stopping European bank system from collapsing even with Mario Draghi’s success on that boiling situation. Very little has been done to address debt legacy and social tensions which are worsening every month effecting EU stock markets. This paper aims to illustrate some aspects regarding the European economic integration through aspects related to major area fields such as energy, banking, fiscal regulations, FDI (Foreign Direct Investments) and demographics. The paper will also try to describe the concepts of market economy and European business integration models as solution to reduce costs and the effects on EU market, and also will focus on understanding the mission of European integration in public sector development, and the benefits on European community.

Determinant of Private Saving: An Empirical Study on Malaysia

2024-08-23T00:24:22-06:00

The purpose of our paper is to narrow down the determinants of private saving in Malaysia with references from past researches. This is because of the importance of private saving when considering a country’s economic stability and conditions. With a good understanding of its determinants, effective policies can be devised and implemented to maintain economic stability and growth and also identifying harmful policies and correcting them. Data period is from 1985 to 2010. We use regression analysis (OLS) and ran several diagnostic tests on the data to address common assumptions of the model. Dependent variable is private saving while independent variables are GDP per capita, inflation rate, and government budget. The empirical findings support the theory of Life Cycle Model and Ricardian Equivalence existence in Malaysia. Malaysia’s inflation rate has a significant and positive relationship with private savings.

Testing the Validity of Wagner’s Law of Government Size in Tanzania, 1966–2011: A Cointegration and Causality Analysis

2024-08-22T05:24:27-06:00

This paper presents an empirical analysis of the validity of the Wagner’s Law in the context of Tanzania for the period spanning 1966-2012. It analyses the long-run and causal relationship between public expenditure and economic growth. The Augmented Dickey Fuller test was first applied to analyse the stationarity properties of the data. With regard to this test all the variables were found to be non stationary at level, but stationary after the first difference. The Johansen test of co-integration was further deployed in which we found no co-integrating vectors or no long-run relationship among the variables. Besides, the study applied Granger causality test to test the validity of the Law as it requires existence of unidirectional causality running from GDP to public expenditure. By applying this test we noted no causality running from economic growth to public expenditure and vice versa for all six versions of the law analysed in this paper. Therefore, both Johansen co-integration and Granger causality tests revealed no empirical evidence to support validity of the Law in Tanzania. This implies that that public expenditure plays no significant role and cannot be used as a policy instruments in promoting economic growth in Tanzania.

Application of Ordered Logit Model in Investigating the factors Affecting People’s Income (A Case Study in Tehran City)

2024-08-23T00:10:21-06:00

The study aimed at investigating the factors affecting people’s income in Tehran city. The data was collected through field survey, designing and running a questionnaire using simple sampling method in 2013. The factors affecting income were estimated using ordered logit based on maximum likelihood (ML).Income was evaluated as a function of education, age, age squared, gender, residence, occupation, wealth and private investment variables. The results indicated that the increase in the age (continuous variable), gender (for women), residence (for non-capital of the provinces), wealth (for those who had not inherited) and private investment (for those who had not invested) decreases the likelihood of the people to be placed at higher income levels, and increase in the age squared variable increases the likelihood of the people to be placed at higher levels of income. In other words, people’s income increases from certain age onwards. In case of education and occupation, Increase in the levels of these variables increases the likelihood of people to be placed at higher income levels. The calculated marginal effects are also in accordance with the theoretical expectations. Based on calculated Pseudo R-Square statistics, it can be said that estimated ordered logit model also enjoys a high level of goodness of estimate.

Market Integration: A Sector Level Approach

2024-08-22T04:33:05-06:00

This study aims to find out the long-run associations among emerging Turkish stock market and three developed stock markets (the German, the US and UK stock markets) for portfolio diversification by employing Augmented Dickey Fuller (ADF) Test, Johansen Cointegration Test and Vector Error Correction Model (VECM). The data includes the companies from 11 different sectors of Turkish Stock Market. The results revial five cointegration equations with the selected factors including both micro and macro variables. The paper is concluded with the discussion of identified relationships for each sector.

Stock Market-Based Financial Development and Economic Growth with Reference To Nigeria: A Review of Literature

2024-08-22T23:27:12-06:00

The objective of this paper is to survey the theoretical as well as the empirical literature review of the stock-market based financial development and economic growth in Nigeria. To the authors’ best knowledge, this is the first comprehensive empirical literature review on the relationship between stock market development and economic growth in Nigeria. The study analyzes the empirical work from 1997 to 2014. Within this time frame, the authors reviewed over 50 articles from different academic journals. Most of the empirical studies employ ordinary least square and vector error correction regression model in their methodology. However, Nigerian macroeconomic environment experiences some structural changes. Nearly all of the reviewed works did not use an econometric method that employed structural breaks or dummy variables, in considering the structural changes in the financial time series data. This omission may lead to spurious or biased results. For further study the paper, therefore, suggests the use of a structural break or dummy variables in the econometric analysis