Ben Boubakary, Irène Ngo Nken, Doumagay Donatienne Moskolaï
Purpose This article looks at the field of corporate social responsibility (CSR) in Cameroon's dynamic landscape, exploring the motivations driving small and medium-sized enterprises (SMEs) to adopt socially responsible practices. In contrast to the emphasis on CSR in large companies, we highlight the central role played by SMEs as catalysts for sustainable development. Design/Methodology/Approach Using a quantitative methodological approach, this study examines the different factors that influence the adoption of CSR in Cameroonian SMEs. We established a non-probability sample of 124 SMEs based in the following four Cameroonian cities: Douala, Yaounde, Garoua and Ngaoundere. We used binomial logistic regression to analyse the impact of financial resources, institutional environment, company size, sector of activity, managerial ethics and company age on SMEs' commitment to socially responsible practices. Findings and implications Our study highlights the key determinants of commitment to CSR in Cameroonian SMEs. Our results show that financial resources, the institutional environment, the size of the company, the sector of activity, the ethics of the manager and the age of the company appear to be key factors influencing the implementation of a CSR approach. However, the factors studied have different weights of influence in the implementation of this CSR approach. These results prompt a reassessment of CSR implementation strategies and provide valuable pointers for improving the reputation, sustainability and relevance of Cameroonian SMEs in a rapidly changing context. Limitations Although this study makes a significant contribution to the understanding of CSR in Cameroonian SMEs, certain limitations must be acknowledged. The research is specific to the Cameroonian context and the results may not be universally applicable. In addition, the dynamic nature of business environments introduces a temporal component that may impact the generalisability of our results over time. Finally, the absence of a relationship between the nature of the technologies used and the implementation of a CSR approach is counter-intuitive and would merit being tested on larger samples or being the subject of further qualitative research in order to identify other components of the variable.Originality This research fills a crucial gap in the literature by shedding light on CSR in the context of Cameroonian SMEs. The identification of multifaceted determinants offers a unique contribution to the wider CSR discourse, challenging conventional perceptions and providing practical implications for both academics and practitioners.
{"title":"Discovering\u0000the deep roots of corporate social responsibility in SMEs","authors":"Ben Boubakary, Irène Ngo Nken, Doumagay Donatienne Moskolaï","doi":"10.32728/ric.2023.101/1","DOIUrl":"https://doi.org/10.32728/ric.2023.101/1","url":null,"abstract":"Purpose This article looks at the field of corporate social responsibility (CSR) in Cameroon's dynamic landscape, exploring the motivations driving small and medium-sized enterprises (SMEs) to adopt socially responsible practices. In contrast to the emphasis on CSR in large companies, we highlight the central role played by SMEs as catalysts for sustainable development. Design/Methodology/Approach Using a quantitative methodological approach, this study examines the different factors that influence the adoption of CSR in Cameroonian SMEs. We established a non-probability sample of 124 SMEs based in the following four Cameroonian cities: Douala, Yaounde, Garoua and Ngaoundere. We used binomial logistic regression to analyse the impact of financial resources, institutional environment, company size, sector of activity, managerial ethics and company age on SMEs' commitment to socially responsible practices. Findings and implications Our study highlights the key determinants of commitment to CSR in Cameroonian SMEs. Our results show that financial resources, the institutional environment, the size of the company, the sector of activity, the ethics of the manager and the age of the company appear to be key factors influencing the implementation of a CSR approach. However, the factors studied have different weights of influence in the implementation of this CSR approach. These results prompt a reassessment of CSR implementation strategies and provide valuable pointers for improving the reputation, sustainability and relevance of Cameroonian SMEs in a rapidly changing context. Limitations Although this study makes a significant contribution to the understanding of CSR in Cameroonian SMEs, certain limitations must be acknowledged. The research is specific to the Cameroonian context and the results may not be universally applicable. In addition, the dynamic nature of business environments introduces a temporal component that may impact the generalisability of our results over time. Finally, the absence of a relationship between the nature of the technologies used and the implementation of a CSR approach is counter-intuitive and would merit being tested on larger samples or being the subject of further qualitative research in order to identify other components of the variable.Originality This research fills a crucial gap in the literature by shedding light on CSR in the context of Cameroonian SMEs. The identification of multifaceted determinants offers a unique contribution to the wider CSR discourse, challenging conventional perceptions and providing practical implications for both academics and practitioners.","PeriodicalId":32138,"journal":{"name":"Review of Innovation and Competitiveness","volume":"36 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-04-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140727207","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Purpose. The entrepreneurial activity has requirements that distinguish it from other professional activities, especially managerial activities and other requirements associated with recognizing business opportunities and engaging in innovative activity. Meanwhile, Entrepreneurial activities have been identified in the literature as drivers of SMEs’ growth and development. The study determined the mechanisms by which entrepreneurial activities impact the organisational innovativeness of Small and Medium Enterprises (SMEs) in Osun State, Nigeria. Design/Methodology/Approach. This study adopted a survey research design. The population of this study consisted of three thousand and seven (3007) Owners/Managers of registered SMEs in Osun State, Nigeria. The sample size of three hundred and fifty-three (353) for the study was arrived at using the Taro Yamane formula for sample size. This study employed a simple random sampling technique for the selection of respondents across all the three senatorial districts in Osun State. The primary data used for the analyses were collected from the respondents through the use of a structured questionnaire, and responses were analysed using descriptive and inferential statistics. Finding and Implication. Two hypotheses were proposed and tested. The first hypothesis revealed a significant impact of creativity at (R2 = 0. 982, β = 0.1.004, t = 90.701, p< 0.05) on SMEs organisational innovativeness and the second hypothesis revealed a significant impact of knowledge transfer at (R2 = 0.993, β = 0.1.012, t = 144.459, p< 0.05) on organisational innovativeness. Therefore, policymakers may be encouraged to develop and support policies that promote a creative culture and facilitate knowledge-sharing mechanisms among SMEs. Limitations. The study focuses only on entrepreneurs’ creativity, without recognizing the employee creativity. The study was also constrained by the cross-sectional and singlerespondent nature of the study. Originality. The claim about measuring performance with organisational innovativeness remains unclear to SMEs in Nigeria because most of the researches were carried out among large enterprises.
{"title":"Impact of Entrepreneurial Activities on Organisational Innovativeness of Small and Medium Enterprises (SMEs) in Osun State, Nigeria","authors":"Nafiu Isola Badiru","doi":"10.32728/ric.2023.91/2","DOIUrl":"https://doi.org/10.32728/ric.2023.91/2","url":null,"abstract":"Purpose. The entrepreneurial activity has requirements that distinguish it from other professional activities, especially managerial activities and other requirements associated with recognizing business opportunities and engaging in innovative activity. Meanwhile, Entrepreneurial activities have been identified in the literature as drivers of SMEs’ growth and development. The study determined the mechanisms by which entrepreneurial activities impact the organisational innovativeness of Small and Medium Enterprises (SMEs) in Osun State, Nigeria. Design/Methodology/Approach. This study adopted a survey research design. The population of this study consisted of three thousand and seven (3007) Owners/Managers of registered SMEs in Osun State, Nigeria. The sample size of three hundred and fifty-three (353) for the study was arrived at using the Taro Yamane formula for sample size. This study employed a simple random sampling technique for the selection of respondents across all the three senatorial districts in Osun State. The primary data used for the analyses were collected from the respondents through the use of a structured questionnaire, and responses were analysed using descriptive and inferential statistics. Finding and Implication. Two hypotheses were proposed and tested. The first hypothesis revealed a significant impact of creativity at (R2 = 0. 982, β = 0.1.004, t = 90.701, p< 0.05) on SMEs organisational innovativeness and the second hypothesis revealed a significant impact of knowledge transfer at (R2 = 0.993, β = 0.1.012, t = 144.459, p< 0.05) on organisational innovativeness. Therefore, policymakers may be encouraged to develop and support policies that promote a creative culture and facilitate knowledge-sharing mechanisms among SMEs. Limitations. The study focuses only on entrepreneurs’ creativity, without recognizing the employee creativity. The study was also constrained by the cross-sectional and singlerespondent nature of the study. Originality. The claim about measuring performance with organisational innovativeness remains unclear to SMEs in Nigeria because most of the researches were carried out among large enterprises.","PeriodicalId":32138,"journal":{"name":"Review of Innovation and Competitiveness","volume":"322 12","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-03-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140233240","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Purpose. Article present the survey on dependency of quality-of-life indicators with transport accessibility. Specific focus is on rural areas. There was hypothesis to prove, that inhabitants of low population density rural areas are facing poor quality-of-life. Design/Methodology/Approach. A representative survey of the population was chosen as the research method. The study area was divided into transport districts, and the representativeness of the survey was ensured in each transport district. Transport districts are divided according to the criterion of travel time and public transport supply. The survey included questions that allowed checking whether and which quality of life parameters correlate with the quality of public services. Findings and implications. The research found that public transport accessibility is closely related with such attributes as education, employment rate and closely related to such attributes of life quality as change of clothes more often or having the proper shoes more often as well as having Internet access. Limitations. The study was conducted in just one country with a very high level of car ownership, which is still growing. Another limitation is that the public transport supply in this country is insufficient due to historical reasons. For a long time, public transport was unsubsidized or weakly subsidized in this country. Originality. The originality of the paper is based on a representative survey conducted by the authors, the results of which linked quality of life indicators with public transport availability indicators. The originality of the work is based on a representative survey conducted by the authors, the results of which linked quality of life indicators with public transport availability indicators.
{"title":"Quality of Life Dependence on Public Transport Accessibility","authors":"A. Jaržemskis, Ilona Jaržemskien","doi":"10.32728/ric.2023.91/3","DOIUrl":"https://doi.org/10.32728/ric.2023.91/3","url":null,"abstract":"Purpose. Article present the survey on dependency of quality-of-life indicators with transport accessibility. Specific focus is on rural areas. There was hypothesis to prove, that inhabitants of low population density rural areas are facing poor quality-of-life. Design/Methodology/Approach. A representative survey of the population was chosen as the research method. The study area was divided into transport districts, and the representativeness of the survey was ensured in each transport district. Transport districts are divided according to the criterion of travel time and public transport supply. The survey included questions that allowed checking whether and which quality of life parameters correlate with the quality of public services. Findings and implications. The research found that public transport accessibility is closely related with such attributes as education, employment rate and closely related to such attributes of life quality as change of clothes more often or having the proper shoes more often as well as having Internet access. Limitations. The study was conducted in just one country with a very high level of car ownership, which is still growing. Another limitation is that the public transport supply in this country is insufficient due to historical reasons. For a long time, public transport was unsubsidized or weakly subsidized in this country. Originality. The originality of the paper is based on a representative survey conducted by the authors, the results of which linked quality of life indicators with public transport availability indicators. The originality of the work is based on a representative survey conducted by the authors, the results of which linked quality of life indicators with public transport availability indicators.","PeriodicalId":32138,"journal":{"name":"Review of Innovation and Competitiveness","volume":"95 6","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-03-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140234096","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Purpose. The purpose of this paper is to determine and analyze the determinants of the capital structure of joint-stock companies in Bosnia and Herzegovina that are listed on the Banja Luka Stock Exchange. This study will answer the question as to which factors determine the capital structure of BiH companies and whether existing financial theories of the capital structure hold true in that context. The main research objective is to estimate the effects of a firm’s level determinants on its capital structure measures in different ownership structures. Those findings will certainly advance our understanding of listed companies financing behavior. Methodology. For the research, we took into account firm-specific characteristics and divided joint-stock companies into private and state-owned. The results of the research show that the capital structure of these two groups of enterprises is differently affected by individual determinants. Findings and implications. While state-owned enterprises rely more on borrowed resources to finance both short-term and long-term assets, private enterprises even finance part of their short-term assets with their own capital. However, the most important determinant in both groups of enterprises is the share of inventories in short-term assets, which confirms that short-term liabilities, i.e. free sources of financing in the form of liabilities to suppliers are the determinant that most positively affect the indebtedness of all enterprises. Unlike previous research that observed enterprises according to their size or affiliation to individual industries, the focus of our research is enterprises of different ownership structures. The empirical statistical results provide basis for logical conclusion and appropriate policy implications. The study points to the specifics of the capital structure in private and publicly listed joint-stock companies. The stated opposite influence of certain ratios on the indebtedness of the enterprises is explained by a number of factors. Limitations. This study focuses only on the presentation of the recent indicators of capital structure of listed companies - listed on the Banja Luka Stock Exchange, which is one of its major limitations. The limitation of this search is the sample size which can be considered low. Further research may be conducted by using other capital markets to explore more information regarding the effect of the variables affecting the capital structure. In addition, further research may also be conducted by using other proxies or by adding more variables, sample size, and research period to get a better result. Originality. The study is an original research paper. It has not been published in any other peer-reviewed journal not under consideration for publication by any other journal. The paper adds to the existing literature on Bosnia and Hezegovina by giving an overview of recent developments in the flexi purity concept, pointing out the areas that require policy
{"title":"Capital Structure Determinants of Listed Private and State Companies","authors":"Miloš Grujić, J. Poljašević","doi":"10.32728/ric.2023.91/1","DOIUrl":"https://doi.org/10.32728/ric.2023.91/1","url":null,"abstract":"Purpose. The purpose of this paper is to determine and analyze the determinants of the capital structure of joint-stock companies in Bosnia and Herzegovina that are listed on the Banja Luka Stock Exchange. This study will answer the question as to which factors determine the capital structure of BiH companies and whether existing financial theories of the capital structure hold true in that context. The main research objective is to estimate the effects of a firm’s level determinants on its capital structure measures in different ownership structures. Those findings will certainly advance our understanding of listed companies financing behavior. Methodology. For the research, we took into account firm-specific characteristics and divided joint-stock companies into private and state-owned. The results of the research show that the capital structure of these two groups of enterprises is differently affected by individual determinants. Findings and implications. While state-owned enterprises rely more on borrowed resources to finance both short-term and long-term assets, private enterprises even finance part of their short-term assets with their own capital. However, the most important determinant in both groups of enterprises is the share of inventories in short-term assets, which confirms that short-term liabilities, i.e. free sources of financing in the form of liabilities to suppliers are the determinant that most positively affect the indebtedness of all enterprises. Unlike previous research that observed enterprises according to their size or affiliation to individual industries, the focus of our research is enterprises of different ownership structures. The empirical statistical results provide basis for logical conclusion and appropriate policy implications. The study points to the specifics of the capital structure in private and publicly listed joint-stock companies. The stated opposite influence of certain ratios on the indebtedness of the enterprises is explained by a number of factors. Limitations. This study focuses only on the presentation of the recent indicators of capital structure of listed companies - listed on the Banja Luka Stock Exchange, which is one of its major limitations. The limitation of this search is the sample size which can be considered low. Further research may be conducted by using other capital markets to explore more information regarding the effect of the variables affecting the capital structure. In addition, further research may also be conducted by using other proxies or by adding more variables, sample size, and research period to get a better result. Originality. The study is an original research paper. It has not been published in any other peer-reviewed journal not under consideration for publication by any other journal. The paper adds to the existing literature on Bosnia and Hezegovina by giving an overview of recent developments in the flexi purity concept, pointing out the areas that require policy ","PeriodicalId":32138,"journal":{"name":"Review of Innovation and Competitiveness","volume":"71 11","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-03-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140234460","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
The contention in the literature is the relative contribution of private and public investment on economic growth and whether the relationship is linear or non-linear. In addition, there is the issue of whether the impact of investment on economic growth changes depending on public and private investment Purpose. The study examines the relationship between investment (public and private) and economic growth in Nigeria over the period 1970-2016. Design/Methodology/Approach. The study employs Markov regime-switching approach developed by Hamilton (1989, 1990). Specifically, a multivariate dynamic Markov-switching model is estimated using maximum likelihood estimation techniques. The study employs annual time-series sourced from Central Bank of Nigeria, Statistical Bulletin and World Bank, World Development Indicator. Findings/Implications. The results show that the relationship between investment and economic growth is non-linear. Also, both public and private investments have a significant positive impact on economic growth. However, private investment contributes more to economic growth than public investment during the period of expansion. The reverse is the case during the period of contraction. The results support the basic neoclassical framework, with emphasis on savings and investment for analyzing long-term growth performance. Also, it is crucial to make a distinction between the impact of investment (public and private) on growth in two stages of growth. Originality. Government needs to be innovative by spending more during period of slump as more public investment will be required to pump prime the economy for increased private investment.
{"title":"Impact\u0000of Public and Private Investment on Economic Growth in Nigeria","authors":"A. Akinlo","doi":"10.32728/ric.2022.81/3","DOIUrl":"https://doi.org/10.32728/ric.2022.81/3","url":null,"abstract":"The contention in the literature is the relative contribution of private and public investment on economic growth and whether the relationship is linear or non-linear. In addition, there is the issue of whether the impact of investment on economic growth changes depending on public and private investment Purpose. The study examines the relationship between investment (public and private) and economic growth in Nigeria over the period 1970-2016. Design/Methodology/Approach. The study employs Markov regime-switching approach developed by Hamilton (1989, 1990). Specifically, a multivariate dynamic Markov-switching model is estimated using maximum likelihood estimation techniques. The study employs annual time-series sourced from Central Bank of Nigeria, Statistical Bulletin and World Bank, World Development Indicator. Findings/Implications. The results show that the relationship between investment and economic growth is non-linear. Also, both public and private investments have a significant positive impact on economic growth. However, private investment contributes more to economic growth than public investment during the period of expansion. The reverse is the case during the period of contraction. The results support the basic neoclassical framework, with emphasis on savings and investment for analyzing long-term growth performance. Also, it is crucial to make a distinction between the impact of investment (public and private) on growth in two stages of growth. Originality. Government needs to be innovative by spending more during period of slump as more public investment will be required to pump prime the economy for increased private investment.","PeriodicalId":32138,"journal":{"name":"Review of Innovation and Competitiveness","volume":"90 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-11-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"74743811","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Purpose. Chronic budget deficit and rising inflation have been the major problems of government in Nigeria with their implication for significant macroeconomic variables. The government’s efforts in curbing these problems have not yielded the expected result. Thus, this study investigated the inflationary effects of the budget deficit in Nigeria. Methodology. Augmented-Dickey Fuller test, Bound Test and Autoregressive Distributed Lag test (ARDL) were used for analysis. Data were sourced from Central Bank of Nigerian Statistical Bulletin from 1986 to 2019.Finding and Implication. A long-run dynamic relationship was established between the budget deficit and the inflation rate in Nigeria, Based on findings, long run movement was discovered between budget deficit and inflation in Nigeria. It was established that rising budget deficit lead to inflationary pressure in Nigeria. Thus, there is need for government to work assiduously and diligently in ensuring balance in national budget. Originality and Limitation. This study contributed to existing study by investigating the dynamic inflationary effects of budget deficit in Nigeria and the adoption of important deficit financing variables. This study mainly focused on inflation rate without looking at the effect of budget deficit on other macroeconomic variables. Thus, future studies should focus on other macroeconomic variables like unemployment rate and balance of payments.
{"title":"The Inflationary Effects of Budget Deficit in Nigeria","authors":"Oludayo Elijah Adekunle","doi":"10.32728/ric.2022.81/1","DOIUrl":"https://doi.org/10.32728/ric.2022.81/1","url":null,"abstract":"Purpose. Chronic budget deficit and rising inflation have been the major problems of government in Nigeria with their implication for significant macroeconomic variables. The government’s efforts in curbing these problems have not yielded the expected result. Thus, this study investigated the inflationary effects of the budget deficit in Nigeria. Methodology. Augmented-Dickey Fuller test, Bound Test and Autoregressive Distributed Lag test (ARDL) were used for analysis. Data were sourced from Central Bank of Nigerian Statistical Bulletin from 1986 to 2019.Finding and Implication. A long-run dynamic relationship was established between the budget deficit and the inflation rate in Nigeria, Based on findings, long run movement was discovered between budget deficit and inflation in Nigeria. It was established that rising budget deficit lead to inflationary pressure in Nigeria. Thus, there is need for government to work assiduously and diligently in ensuring balance in national budget. Originality and Limitation. This study contributed to existing study by investigating the dynamic inflationary effects of budget deficit in Nigeria and the adoption of important deficit financing variables. This study mainly focused on inflation rate without looking at the effect of budget deficit on other macroeconomic variables. Thus, future studies should focus on other macroeconomic variables like unemployment rate and balance of payments.","PeriodicalId":32138,"journal":{"name":"Review of Innovation and Competitiveness","volume":"87 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-11-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"72970931","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Purpose. Industrial development is crucial in converting all resources to humanity’s use and benefits. Economists observe that the development and utilisation of the industrial sector are essential in a country’s economic growth. Disaggregating the industrial sector into various components, this paper empirically analyses the performance of the industrial sector on economic growth in Nigeria over the 1970-2015 period. Hence, to evaluate the relationship between industrial development and economic growth in Nigeria. Design/Methodology. The paper adopted autoregressive distributed lag (ARDL) as the technique of data analysis. Findings and implications. The results further revealed that the coefficients of all industrial subsectors, such as manufacturing, solid minerals and crude petroleum and gas, have positive and statistically significant influences on economic growth in both the short and long run. Among the industrial subsectors, the crude petroleum and gas sector appears to be the highest driver of Nigerian economic growth compared to other industrial subsectors, showing that the Nigerian economy is still far from diversified. Limitations. Limitation emanates from the problem of missing data from the source of data on the variable labour. However, effort has been made to overcome this challenge by applying a two-year moving average gap for periods of missing data. This method conforms to the rational expectation hypothesis (Muth, 1961). Originality. The development of the industrial sector of any economy can be measured by the contribution of various components (Isiksal & Chimezie, 2016). It is expected that as an economy becomes transformed, the share of industrialisation should be increasing (UNECA, 2011). The examination of industrial sector performance involves its sectoral components.
{"title":"Industrial Development and Economic Growth Nexus in Nigeria","authors":"Mutairu Shaka Eromise, N. M. Gatawa, M. Olarinde","doi":"10.32728/ric.2022.81/2","DOIUrl":"https://doi.org/10.32728/ric.2022.81/2","url":null,"abstract":"Purpose. Industrial development is crucial in converting all resources to humanity’s use and benefits. Economists observe that the development and utilisation of the industrial sector are essential in a country’s economic growth. Disaggregating the industrial sector into various components, this paper empirically analyses the performance of the industrial sector on economic growth in Nigeria over the 1970-2015 period. Hence, to evaluate the relationship between industrial development and economic growth in Nigeria. Design/Methodology. The paper adopted autoregressive distributed lag (ARDL) as the technique of data analysis. Findings and implications. The results further revealed that the coefficients of all industrial subsectors, such as manufacturing, solid minerals and crude petroleum and gas, have positive and statistically significant influences on economic growth in both the short and long run. Among the industrial subsectors, the crude petroleum and gas sector appears to be the highest driver of Nigerian economic growth compared to other industrial subsectors, showing that the Nigerian economy is still far from diversified. Limitations. Limitation emanates from the problem of missing data from the source of data on the variable labour. However, effort has been made to overcome this challenge by applying a two-year moving average gap for periods of missing data. This method conforms to the rational expectation hypothesis (Muth, 1961). Originality. The development of the industrial sector of any economy can be measured by the contribution of various components (Isiksal & Chimezie, 2016). It is expected that as an economy becomes transformed, the share of industrialisation should be increasing (UNECA, 2011). The examination of industrial sector performance involves its sectoral components.","PeriodicalId":32138,"journal":{"name":"Review of Innovation and Competitiveness","volume":"20 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-11-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"73495876","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Ben Boubakary, Doumagay Donatienne Moskolaï, G. Njang
Purpose. Managerial innovation, if it constitutes a real lever for transformation and performance of companies in developed countries, in Africa, only a tiny part of SME managers make it a priority. At the same time, most African economies continue to be at the forefront of the adoption of global technological innovations. Given the fact that managerial innovation has proven itself in the Western context, and that the context of Sub-Saharan Africa is still unclear, it is important to develop management methods in this context by adapting them to new ones economic models, new objectives, new processes in order to see its impact on improving the productivity and performance of SMEs. Design/Methodology/Approach. A survey instrument based on the questionnaire was used to collect quantitative data to explain the performance of SMEs through the adoption of managerial innovation. For data analysis, multiple linear regression analysis was used. Findings and implications. The findings indicate that, managerial innovation, through its two main components, "change in management practices" and "change in organizational structure", make it possible to increase market share, production efficiency, the bottom line and, in turn, improve the overall performance of the business. Overall, the results of the study show that the fit model is of good quality and can be used to explain the theory. Limitations. The results of this study may not be generalisable to all African SMEs because they are based only on a sub-Saharan African country and the sample size therefore remains small. Originality. The contribution of this article is manifold: it supports the theories of contingency and resource dependence that organizations are adaptive systems that introduce changes to function effectively and improve their performance. Second, it allows SME managers to optimize the chances of sustainability for their businesses, because managerial innovation allows them to: differentiate themselves from their competitors by inventing new offers. Finally, it allows SME managers to no longer confine themselves to the technological aspect of innovation (products, processes) whose lifespan is constantly shortened. Studies of this nature can lead to stimulating managerial innovation in emerging and developing countries, by developing horizontal or networked organizational structures and no longer vertical and pyramidal structures which no longer meet current requirements.
{"title":"A Study of the Impact of Managerial Innovation on SME Performance in Africa","authors":"Ben Boubakary, Doumagay Donatienne Moskolaï, G. Njang","doi":"10.32728/ric.2021.71/1","DOIUrl":"https://doi.org/10.32728/ric.2021.71/1","url":null,"abstract":"Purpose. Managerial innovation, if it constitutes a real lever for transformation and performance of companies in developed countries, in Africa, only a tiny part of SME managers make it a priority. At the same\u0000time, most African economies continue to be at the forefront of the adoption of global technological innovations. Given the fact that managerial innovation has proven itself in the Western context, and that\u0000the context of Sub-Saharan Africa is still unclear, it is important to develop management methods in this context by adapting them to new ones economic models, new objectives, new processes in order to see its impact on improving the productivity and performance of SMEs.\u0000\u0000Design/Methodology/Approach. A survey instrument based on the questionnaire was used to collect quantitative data to explain the performance of SMEs through the adoption of managerial innovation. For data analysis, multiple linear regression analysis was used.\u0000\u0000Findings and implications. The findings indicate that, managerial innovation, through its two main components, \"change in management practices\" and \"change in organizational structure\", make it possible to\u0000increase market share, production efficiency, the bottom line and, in turn, improve the overall performance of the business. Overall, the results of the study show that the fit model is of good quality and can be used to explain the theory. \u0000\u0000Limitations. The results of this study may not be generalisable to all African SMEs because they are based only on a sub-Saharan African country and the sample size therefore remains small. \u0000\u0000Originality. The contribution of this article is manifold: it supports the theories of contingency and resource dependence that organizations are adaptive systems that introduce changes to function effectively and improve their performance. Second, it allows SME managers to optimize the chances of sustainability for their businesses, because managerial innovation allows them to: differentiate themselves from their competitors by inventing new offers. Finally, it allows SME managers to no longer confine themselves to the technological aspect of innovation (products, processes) whose lifespan is constantly shortened. Studies of\u0000this nature can lead to stimulating managerial innovation in emerging and developing countries, by developing horizontal or networked organizational structures and no longer vertical and pyramidal structures which no longer meet current requirements.","PeriodicalId":32138,"journal":{"name":"Review of Innovation and Competitiveness","volume":"11 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2021-12-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"86227163","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Costinel Dobre, Gheorghe Preda, Anca Milovan, R. Naghi, S. Prada
Purpose. Over the past two decades, concerned with how stakeholders perceive the value of their services, universities have adopted entrepreneurial orientations and relationship marketing approaches into their activities. The fierce competition on the global higher education market, forced university managers to innovate, to look for new ways to build their offer. Relationship marketing and the knowledge regarding the stakeholders, primarily the students’ perception of their offerings, can provide universities with a competitive advantage. As such, university managers need to carry out satisfaction surveys, inquiries regarding the universities image or the perceived value of the academic programs and services offered, need to plan and organize offline and online integrated marketing communication campaigns. Methodology/Design/Approach. Based on the resemblance of perceived value with a Rubik's cube, university marketers can constantly innovate through the way they match the various dimensions of perceived value or facets of the cube to meet the stakeholders’ expectations. Result /Findings. This research highlights the dimensions of the perceived value of the educational offer and determines the extent to which factors such as the university image, the source of financing the studies and the duration of the student - university relationship have an influence on the perception of value. For this purpose we conducted a quantitative research on a sample of 320 students from the largest faculty from the West University of Timișoara, Romania. To perform the statistical data analysis, the following steps were carried out: (1) the reliability of the measurement scales analysis; (2) the opportunity to perform the factorial analysis verification; (3) the exploratory and confirmatory factor analysis and (4) the research hypotheses testing. Research results showed that the perceived relational value affects the student’s perceptions on the quality of learning, the usefulness and quality of the acquired knowledge, the employment opportunities. The institutional image has a positive influence on the perceived value of the educational offer. For university or faculty managers, it is important to know how to combine the various facets of the perceived value-technical value, relational value, social value, temporal value- in order to provide the value expected by their stakeholders, primarily by students.
{"title":"The Perceived Value of Higher Education and University Competitiveness - The Rubik Cube Metaphor","authors":"Costinel Dobre, Gheorghe Preda, Anca Milovan, R. Naghi, S. Prada","doi":"10.32728/ric.2021.71/2","DOIUrl":"https://doi.org/10.32728/ric.2021.71/2","url":null,"abstract":"Purpose. Over the past two decades, concerned with how stakeholders perceive the value of their services, universities have adopted entrepreneurial orientations and relationship marketing approaches into their activities. The fierce competition on the global higher education market, forced university managers to innovate, to look for new ways to build their offer. Relationship marketing and the knowledge regarding the stakeholders, primarily the students’ perception of their offerings, can provide universities with a competitive advantage. As such, university managers need to carry out satisfaction surveys, inquiries regarding the universities image or the perceived value of the academic programs and services offered, need to plan and organize offline and online integrated marketing communication campaigns. Methodology/Design/Approach. Based on the resemblance of perceived value with a Rubik's cube, university marketers can constantly innovate through the way they match the various dimensions of perceived value or facets of the cube to meet the stakeholders’ expectations. Result /Findings. This research highlights the dimensions of the perceived value of the educational offer and determines the extent to which factors such as the university image, the source of financing the studies and the duration of the student - university relationship have an influence on the perception of value. For this purpose we conducted a quantitative research on a sample of 320 students from the largest faculty from the West University of Timișoara, Romania. To perform the statistical data analysis, the following steps were carried out: (1) the reliability of the measurement scales analysis; (2) the opportunity to perform the factorial analysis verification; (3) the exploratory and confirmatory factor analysis and (4) the research hypotheses testing. Research results showed that the perceived relational value affects the student’s perceptions on the quality of learning, the usefulness and quality of the acquired knowledge, the employment opportunities. The institutional image has a positive influence on the perceived value of the educational offer. For university or faculty managers, it is important to know how to combine the various facets of the perceived value-technical value, relational value, social value, temporal value- in order to provide the value expected by their stakeholders, primarily by students.","PeriodicalId":32138,"journal":{"name":"Review of Innovation and Competitiveness","volume":"34 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2021-12-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"88493016","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Purpose. The study aims to examine the nexus between agricultural productivity by connecting oil prices, economic growth, and financial development. Design/Methodology/Approach. A newly formulated ARDL model was used to estimate an agricultural productivity nexus model using annual time-series data from 1962 to 2016. Innovation and additive structural break unit root tests were applied to determine the existence of unit roots, and the results reaffirmed that all the variables were stationary at first difference. The Chow Breakpoint test was applied to confirm a structural break in the year 2008 caused by the effects of the 2008 financial crisis. Findings and Implications. The results depicted a long-run relationship linking agricultural productivity, oil prices, economic growth, financial development and a financial crisis. The results also showed that financial development and economic growth have positive effects on agricultural productivity. The empirical findings further suggested that an increase in oil prices and the prevalence of a financial crisis have severe adverse effects on agricultural productivity. Originality. The study provides a novel viewpoint of agricultural productivity by connecting oil prices, economic growth, and financial stability and development. The study successfully demonstrated that the financial sector and oil price stability are pivotal for enhancing agricultural productivity initiatives. This study highlights the policy implications of the estimated results for policymakers seeking to boost agricultural productivity by addressing economic misfortunes induced by oil shocks and a financial crisis.
{"title":"The Nexus between Agricultural Productivity, Oil Prices, Economic Growth, and Financial Development in the USA","authors":"Turgut Tursoy, Andrea Simbarashe Rabson","doi":"10.32728/ric.2021.71/6","DOIUrl":"https://doi.org/10.32728/ric.2021.71/6","url":null,"abstract":"Purpose. The study aims to examine the nexus between agricultural\u0000productivity by connecting oil prices, economic growth, and financial\u0000development. \u0000 \u0000 Design/Methodology/Approach. A newly formulated ARDL model\u0000was used to estimate an agricultural productivity nexus model using annual\u0000time-series data from 1962 to 2016. Innovation and additive structural break unit root tests were applied to\u0000determine the existence of unit roots, and the results reaffirmed that all the\u0000variables were stationary at first difference. The Chow Breakpoint test was\u0000applied to confirm a structural break in the year 2008 caused by the effects of\u0000the 2008 financial crisis. \u0000 \u0000 Findings and Implications. The results depicted\u0000a long-run relationship linking agricultural productivity, oil prices, economic\u0000growth, financial development and a financial crisis. The results also showed\u0000that financial development and economic growth have positive effects on\u0000agricultural productivity. The empirical findings further suggested\u0000that an increase in oil prices and the prevalence of a financial crisis have\u0000severe adverse effects on agricultural productivity. \u0000 \u0000 Originality. The\u0000study provides a novel viewpoint of agricultural productivity by connecting oil\u0000prices, economic growth, and financial stability and development. The study\u0000successfully demonstrated that the financial sector and oil price stability are\u0000pivotal for enhancing agricultural productivity initiatives. This study\u0000highlights the policy implications of the estimated results for policymakers\u0000seeking to boost agricultural productivity by addressing economic misfortunes\u0000induced by oil shocks and a financial crisis.","PeriodicalId":32138,"journal":{"name":"Review of Innovation and Competitiveness","volume":"5 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2021-12-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"85779859","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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