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The Impact of Institutional Quality on External Debt Management in Nigeria 尼日利亚机构质量对外债管理的影响
Pub Date : 2024-08-09 DOI: 10.47191/jefms/v7-i8-13
P. (PhD)
This study investigates the impact of institutional quality on external debt management in Nigeria, focusing on the period from 1980 to 2022. It employed data from the World Development Indicator and the CBN Statistical Bulletin, the research employed descriptive statistics, trend analysis, and advanced econometric techniques, including the Augmented Diceey-Fuller (ADF) unit root test and the Auto Regressive Distributed Lag (ARDL) model, to explore the relationships among eey variables. The dependent variable, Debt to Gross Domestic Product (GDP) ratio (DGDP), is analyzed against several independent variables: government transparency index (GTI), government effectiveness index (GEI), corruption perception index (CPI), regulatory quality index (RQI), inflation rate (INF), and the logarithm of government expenditure (LINGEXP). The findings reveal that higher government transparency and reduced corruption are associated with lower debt-to-GDP ratios, while government effectiveness and regulatory quality are positively correlated with higher debt levels. Inflation and government expenditure also significantly impact debt dynamics, underscoring the need for effective inflation control and prudent fiscal management. The ARDL bounds test confirms a long-term relationship between institutional quality and external debt management, highlighting the importance of stable and transparent institutions for sustainable debt practices. The study concludes that enhancing institutional quality through improved transparency, accountability, and regulatory framewores, along with effective inflation control and fiscal management, is crucial for Nigeria's economic stability and sustainable debt management.
本研究调查了机构质量对尼日利亚外债管理的影响,重点关注 1980 年至 2022 年这一时期。研究采用了《世界发展指标》和《尼日利亚中央银行统计公报》中的数据,并使用了描述性统计、趋势分析和先进的计量经济学技术,包括扩增狄塞尔-富勒(ADF)单位根检验和自回归分布滞后(ARDL)模型,以探讨各变量之间的关系。因变量债务与国内生产总值(GDP)之比(DGDP)与几个自变量(政府透明度指数(GTI)、政府效率指数(GEI)、腐败感知指数(CPI)、监管质量指数(RQI)、通货膨胀率(INF)和政府支出对数(LINGEXP))进行了分析。研究结果表明,政府透明度越高、腐败越少,债务与国内生产总值的比率就越低,而政府效率和监管质量则与债务水平越高呈正相关。通货膨胀和政府支出也会对债务动态产生重大影响,这凸显了有效控制通货膨胀和审慎财政管理的必要性。ARDL 边界检验证实了机构质量与外债管理之间的长期关系,突出了稳定、透明的机构对可持续债务实践的重要性。研究得出结论,通过改善透明度、问责制和监管框架来提高机构质量,同时进行有效的通货膨胀控制和财政管理,对于尼日利亚的经济稳定和可持续债务管理至关重要。
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引用次数: 0
Implementing Islamic Banking Services in Uzbekistan 在乌兹别克斯坦实施伊斯兰银行服务
Pub Date : 2024-08-09 DOI: 10.47191/jefms/v7-i8-12
Absamatov Askar Ergashovich
The paper focuses on the implementation of Islamic financial products in Uzbekistan. The study explores Islamic finance's fundamental ideas and concepts and evaluates the global experience in its advancement. The study examines the potential and challenges associated with implementing Islamic finance in Uzbekistan and analyses the current range of Islamic financial goods and services available in the nation. The book employs techniques of comparative analysis, statistical analysis, and case study analysis. The study's findings enable us to conclude the potential of Islamic financing in fostering the economic development of Uzbekistan and provide recommendations for its efficient implementation.
本文重点介绍乌兹别克斯坦伊斯兰金融产品的实施情况。本研究探讨了伊斯兰金融的基本思想和概念,并评估了全球在推进伊斯兰金融方面的经验。研究探讨了在乌兹别克斯坦实施伊斯兰金融的潜力和挑战,并分析了该国现有的伊斯兰金融产品和服务。本书采用了比较分析、统计分析和案例研究分析等技术。研究结果使我们能够总结出伊斯兰金融在促进乌兹别克斯坦经济发展方面的潜力,并为其有效实施提供建议。
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引用次数: 0
Examining the Business Growth Challenges and Prospects of Small and Medium Enterprises (SMEs): A Case Study of Garden Township Metal Fabricators, Lusaka 研究中小型企业(SMEs)的业务增长挑战与前景:卢萨卡花园镇金属制造公司案例研究
Pub Date : 2024-08-09 DOI: 10.47191/jefms/v7-i8-14
Clarence Mwami, C. Hapompwe
The study was aimed at examining the business growth challenges and prospects of small and medium enterprises (SMEs) with a particular focus on metal fabricators in Garden Township, Lusaka, Zambia. In doing so, specific focus on how these businesses align with Dynamic Capabilities, and Innovation and Entrepreneurship Theories was highlighted. The research employed a qualitative approach, combining primary and secondary data collection. Primary data was gathered through in-depth interviews with 15 participants and five focus group discussions, each comprising two business owners and three welders. Secondary data was obtained from existing literature, industry reports, and academic studies. The primary objectives were to identify the major challenges hindering business growth among metal fabricators, to explore potential strategies for overcoming these challenges, and to assess awareness and accessibility of government support initiatives. Key findings revealed that financial constraints, lack of strategic knowledge, outdated technology, unreliable infrastructure, and insufficient government support are the main barriers to growth. Participants unanimously called for government intervention, emphasizing the need for easier access to loans, financial management training, modern equipment, and strategic planning workshops. The study highlighted that while government initiatives like the Citizen Economic Empowerment Commission (CEEC) and Constituency Development Fund (CDF) are recognized, practical barriers prevent SMEs from accessing these resources. This gap underscores the necessity for more effective implementation and outreach to ensure SMEs can benefit from available support. Recommendations include simplifying access to financial resources, providing strategic business education, implementing targeted support programs for the metal fabrication industry, and improving infrastructure. Future research should focus on evaluating the impact of training programs, streamlined loan processes, technology adoption, and government policy effectiveness on SME growth. Addressing these challenges through a holistic approach can enhance the dynamic capabilities and innovation strategies of metal fabricators, fostering sustainable business growth and competitiveness.
本研究旨在探讨中小企业(SMEs)的业务增长挑战和前景,重点关注赞比亚卢萨卡花园镇的金属加工企业。在此过程中,重点关注这些企业如何与动态能力、创新和创业理论保持一致。研究采用了定性方法,将原始数据和二手数据收集相结合。通过对 15 名参与者的深入访谈和五个焦点小组讨论(每个小组由两名企业主和三名焊工组成)收集原始数据。二手数据来自现有文献、行业报告和学术研究。主要目标是确定阻碍金属加工企业业务增长的主要挑战,探索克服这些挑战的潜在策略,以及评估对政府支持措施的认识和可获得性。主要研究结果表明,资金限制、缺乏战略知识、技术落后、基础设施不可靠以及政府支持不足是企业发展的主要障碍。与会者一致呼吁政府进行干预,强调需要更容易获得贷款、财务管理培训、现代化设备和战略规划研讨会。研究强调,虽然公民经济赋权委员会(CEEC)和选区发展基金(CDF)等政府举措得到了认可,但实际障碍阻碍了中小企业获得这些资源。这一差距凸显了更有效实施和推广的必要性,以确保中小企业能够从现有支持中受益。建议包括简化金融资源的获取途径、提供战略性商业教育、实施针对金属加工行业的支持计划以及改善基础设施。未来的研究应侧重于评估培训计划、简化贷款流程、技术采用和政府政策有效性对中小企业增长的影响。通过综合方法应对这些挑战,可以增强金属加工企业的动态能力和创新战略,促进企业的可持续增长和竞争力。
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引用次数: 0
The Relationship between Growth and Quota Restrictions Concerning the Textile and Clothing Industry: A Study on RMG Sector of Bangladesh 纺织服装业增长与配额限制之间的关系:孟加拉国成衣行业研究
Pub Date : 2024-08-08 DOI: 10.47191/jefms/v7-i8-06
Dr. Kaniz Fatema, Dr. Mohammad Moniruzzaman, Dr. A. K. M. Golam Rabbani Mondal, Dr. Md. Amzad Hossain
The textile and clothing industry plays a significant role in the economy of Bangladesh. At present, the export performance of the readymade garment sector is more than 80% of total exports and hence made about 12% of GDP in Bangladesh. Thus, the development of our country largely depends on this sector, and it is considered as the backbone of our country. As the quota system under the Multi-Fiber Agreement phase had a great impact on the development process of the readymade garment sector in Bangladesh, the aim of this study is to find out the relationship between quota restriction and the growth of the readymade garment sector. For this purpose, the research has covered a period of twenty-four years as sample size, where 12 years has been considered as pre-MFA periods and 12 years as post-MFA period. Though this study is quantitative in nature, Descriptive statistics and Multiple Regression Analysis Techniques have been used to find out the relationship between quota restriction and the growth performance of Bangladesh's textile and clothing industry throughout this study period. At this point, the Multiple Regression Analysis Technique has been used for testing the dependency of Bangladesh RMG export amount on the Annual GDP, Exchange Rate, Employment in Million Workers and No. of garment factories throughout these periods. This regression analysis technique was tested with SPSS software and results showed the most significant factors affecting the export of Bangladesh RMG sector during the Pre and Post MFA periods. The evidence also showed no statistically significant relationship between the quota restriction and the growth of the Readymade Garments sector in Bangladesh. Therefore, by considering the significance of this sector in our economy and for the long run sustainability in this competitive world the textile and clothing industry in Bangladesh must meet the challenges appearing throughout this period.
纺织服装业在孟加拉国经济中发挥着重要作用。目前,成衣业的出口额占出口总额的 80% 以上,因此占孟加拉国国内生产总值的 12%。因此,我国的发展在很大程度上取决于该行业,它被视为我国的支柱产业。由于《多种纤维协议》阶段下的配额制度对孟加拉国成衣行业的发展进程产生了巨大影响,本研究旨在找出配额限制与成衣行业增长之间的关系。为此,研究以 24 年为样本量,其中 12 年被视为配额限制前时期,12 年被视为配额限制后时期。虽然本研究属于定量研究,但我们使用了描述性统计和多元回归分析技术来找出配额限制与孟加拉国纺织服装业在整个研究期间的增长表现之间的关系。在这一点上,我们使用了多元回归分析技术来检验孟加拉国成衣出口额与这些时期的年国内生产总值、汇率、百万工人就业人数和制衣厂数量之间的关系。使用 SPSS 软件对该回归分析技术进行了测试,结果显示,在前和后 MFA 期间,影响孟加拉国成衣出口的因素最为显著。证据还显示,配额限制与孟加拉国成衣行业的增长之间没有统计学意义上的重大关系。因此,考虑到该行业在我国经济中的重要性以及在竞争激烈的世界中的长期可持续性,孟加拉国的纺织品和服装行业必须应对这一时期出现的挑战。
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引用次数: 0
Human Development and Poverty in Indonesia 印度尼西亚的人类发展与贫困
Pub Date : 2024-08-08 DOI: 10.47191/jefms/v7-i8-08
Dewa Putu Yudi Pardita, I. K. Darma, I. K. Putra, Anak Agung Sri Purnami
This study examines the relationship between Indonesia's Human Development Index (HDI) and poverty levels. Despite significant economic growth, poverty remains a serious issue in Indonesia. The main objective of this research is to understand how improvements in HDI, which includes dimensions of health, education, and standard of living, can influence the reduction of poverty levels. The study uses a quantitative approach with secondary data from the Central Statistics Agency of the Republic of Indonesia, covering the period from 2013 to 2022. Analysis was conducted using simple linear regression with the assistance of SPSS 26 software. The results of the study indicate that HDI has a significant impact on reducing poverty levels. This research emphasizes that increasing HDI through improved access to education, healthcare services, and a decent standard of living can significantly reduce poverty in Indonesia. These findings support existing literature and provide important implications for human development policies and poverty alleviation strategies. The study also suggests the need for further exploration with a more comprehensive approach to deepen the understanding of the relationship between HDI and poverty.
本研究探讨了印度尼西亚人类发展指数(HDI)与贫困水平之间的关系。尽管经济大幅增长,但贫困仍然是印尼的一个严重问题。本研究的主要目的是了解人类发展指数(包括健康、教育和生活水平)的提高如何影响贫困水平的降低。研究采用定量方法,使用印度尼西亚共和国中央统计局提供的二手数据,时间跨度为 2013 年至 2022 年。在 SPSS 26 软件的帮助下,使用简单线性回归进行分析。研究结果表明,人类发展指数对降低贫困水平有显著影响。这项研究强调,通过改善教育、医疗保健服务和体面生活水平来提高人类发展指数,可大幅减少印尼的贫困现象。这些研究结果支持现有文献,并为人类发展政策和减贫战略提供了重要启示。本研究还表明,有必要以更全面的方法进行进一步探索,以加深对人类发展指数与贫困之间关系的理解。
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引用次数: 0
Analysis of the Implementation of Tourism Events on Regional Income of Bangka District 举办旅游活动对邦加地区收入的影响分析
Pub Date : 2024-08-08 DOI: 10.47191/jefms/v7-i8-09
Dina Setya Ningsih, Muhammad Faisal Akbar, Ayu Wulandari
The purpose of this study was to determine the effect of bangka expo events and sport tourism events on local revenue as seen from hotel taxes, restaurant taxes, and entertainment taxes. The data used are Realization of Local Revenue, event data and data on the contribution of tourism revenue to Local Revenue. This research is a qualitative research using methods namely data reduction, data presentation, and conclusion drawing. The results of the study indicate that the development of the number of tourist visits to Bangka Regency both before and after the implementation of the event shows a significant increase every year. Bangka Expo 2022 event activities have an influence on Bangka Regency's Original Revenue with a tourism sector contribution of 0.26 percent. Meanwhile, the contribution of the tourism sector to local revenue from the 2023 Bangka Expo event activity is 0.34 percent. From sports tourism events, the implementation of the Duathlon event has an influence on Bangka Regency's Original Revenue, which is 0.37 percent. While from the Triathlon event, the tourism sector succeeded in contributing contributions from hotel taxes, restaurant taxes, and entertainment taxes to Regional Original Revenue, which amounted to 0.35 percent.
本研究的目的是从酒店税、餐饮税和娱乐税等方面确定 Bangka 博览会活动和体育旅游活动对地方收入的影响。使用的数据包括地方收入的实现情况、活动数据以及旅游收入对地方收入的贡献数据。本研究是一项定性研究,采用的方法包括数据还原、数据展示和结论得出。研究结果表明,在活动实施前后,到访邦加县的游客数量每年都有显著增长。2022 年邦卡世博会活动对邦卡县的原始收入产生了影响,旅游部门的贡献率为 0.26%。同时,2023 年 Bangka 世博会活动的旅游部门对当地收入的贡献率为 0.34%。从体育旅游活动来看,双项赛的举办对邦加摄政区的原始收入产生了影响,占 0.37%。而从铁人三项赛事中,旅游业成功地贡献了酒店税、餐饮税和娱乐税,使地区原始收入达到 0.35%。
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引用次数: 0
Unveiling the Nexus between Capital Structure Dynamics and Stock Performance: A Panel Data Approach of Listed Firms in Vietnam 揭示资本结构动态与股票表现之间的联系:越南上市公司面板数据方法
Pub Date : 2024-08-08 DOI: 10.47191/jefms/v7-i8-11
Thai Toan, DO
This study investigates the dynamic relationship between capital structure and stock performance in Vietnamese firms, addressing a critical gap in emerging market finance literature. Utilizing a comprehensive dataset of 122 listed firms on the Ho Chi Minh and Hanoi Stock Exchanges from 2010 to 2022, we employ a dynamic panel approach with System GMM estimation to control for endogeneity and unobserved heterogeneity. Our findings reveal a non-linear, U-shaped relationship between leverage and stock returns, suggesting an optimal capital structure that maximizes performance. We also find that ownership structure significantly impacts stock returns, with state ownership negatively associated and foreign ownership positively linked to performance. Furthermore, the quality of the institutional environment plays a crucial role in shaping this relationship. This research contributes to both academic literature and practical applications by extending the understanding of capital structure dynamics in emerging markets, particularly in the context of Vietnam's transitioning economy. It offers valuable insights for corporate financial management, emphasizing the importance of calibrating debt levels and ownership structures to optimize performance. The study's originality lies in its comprehensive examination of capital structure dynamics, ownership structure, and institutional quality in the context of an emerging Asian market, providing a nuanced understanding of these complex interrelationships.
本研究探讨了越南企业资本结构与股票表现之间的动态关系,填补了新兴市场金融文献中的一个重要空白。利用 2010 年至 2022 年胡志明证券交易所和河内证券交易所 122 家上市公司的综合数据集,我们采用系统 GMM 估计动态面板法来控制内生性和未观察到的异质性。我们的研究结果表明,杠杆率与股票回报率之间存在非线性的 U 型关系,这表明最优资本结构可实现业绩最大化。我们还发现,所有权结构对股票回报率有重大影响,国有所有权与业绩呈负相关,而外资所有权与业绩呈正相关。此外,制度环境的质量对这种关系的形成起着至关重要的作用。本研究通过扩展对新兴市场资本结构动态的理解,尤其是在越南经济转型的背景下,为学术文献和实际应用做出了贡献。它为企业财务管理提供了宝贵的见解,强调了调整债务水平和所有权结构以优化业绩的重要性。该研究的独创性在于,它以一个新兴亚洲市场为背景,对资本结构动态、所有权结构和机构质量进行了全面考察,为这些复杂的相互关系提供了细致入微的理解。
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引用次数: 0
The Effect of Profitability and Ownership Structure on Firm Value with the Mediation of Capital Structure in Banking Companies in Indonesia 以资本结构为中介看印度尼西亚银行业公司的盈利能力和所有权结构对公司价值的影响
Pub Date : 2024-07-27 DOI: 10.47191/jefms/v7-i7-67
Khusnul Chotimah, Prihat Assih, R. Safriliana
This study aims to analyze the effect of profitability on the capital structure of banking companies, analyze the effect of ownership structure on the capital structure of banking companies, analyze the effect of profitability on the value of banking companies, analyze the effect of ownership structure on the value of banking companies, analyze the effect of profitability on firm value through the capital structure of banking companies, analyze the effect of ownership structure on firm value through the capital structure of banking companies. The population in this study are banking companies that have been listed on the Indonesia Stock Exchange in the period 2021 to 2023. The sampling technique used in this study is purposive sampling technique. Based on these criteria, a sample size of 11 banks was obtained, so that the number of observations was 11 x 3 years = 33 observations. The data analysis technique uses path analysis. The analysis shows that profitability affects the capital structure. Ownership structure has no effect on capital structure. Profitability has a significant influence on firm value. Institutional ownership structure has a significant influence on the value of banking companies. Capital structure has no effect on banking value, which means that the high and low capital structure has no impact on firm value. Capital structure fails to mediate the effect of profitability on banking value. Capital structure fails to mediate the effect of institutional ownership structure on banking firm value.
本研究旨在分析盈利能力对银行公司资本结构的影响,分析所有权结构对银行公司资本结构的影响,分析盈利能力对银行公司价值的影响,分析所有权结构对银行公司价值的影响,分析盈利能力通过银行公司资本结构对公司价值的影响,分析所有权结构通过银行公司资本结构对公司价值的影响。本研究的研究对象是 2021 年至 2023 年期间在印度尼西亚证券交易所上市的银行公司。本研究采用的抽样技术是目的性抽样技术。根据这些标准,获得了 11 家银行的样本量,因此观察次数为 11 x 3 年 = 33 次观察。数据分析技术采用路径分析。分析结果表明,盈利能力影响资本结构。所有制结构对资本结构没有影响。盈利能力对公司价值有显著影响。机构所有权结构对银行公司价值有显著影响。资本结构对银行业价值没有影响,即高资本结构和低资本结构对公司价值没有影响。资本结构无法调节盈利能力对银行业价值的影响。资本结构无法调节机构所有权结构对银行企业价值的影响。
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引用次数: 0
Efforts to Improve Hospital Employee Performance through Human Resource and Competency Development 通过人力资源和能力发展提高医院员工绩效的努力
Pub Date : 2024-07-27 DOI: 10.47191/jefms/v7-i7-54
Uun Dwi Untari, Nurul Qomariah, Ni Nyoman Putu Martini
A government organization must be able to optimize existing human resources. The performance achievements of employees influence the good, bad, success and performance of the organization as a whole. The first aim of this research is to determine the impact of human resource development on the performance of hospital employees. The second objective is to determine the impact of employee competency on hospital employee performance. This research used a population of all government hospital administration employees in Jember Regency, totaling 123 employees. Saturated samples were applied in sampling so that the total sample was 123 respondents. This research requires primary data so it requires a questionnaire to obtain the data to be processed. So that the questionnaire created can be used, its level of validity and reliability needs to be tested. Because this research aims to determine the impact of the independent variable on the dependent variable, it is necessary to test the research hypothesis. The results of data processing show that human resource development can actually improve the performance of hospital employees in Jember Regency. It turns out that the competency variable also has a positive impact on employee performance at government hospitals in Jember Regency.
政府组织必须能够优化现有的人力资源。员工的绩效成就影响着整个组织的好坏、成败和绩效。本研究的第一个目的是确定人力资源开发对医院员工绩效的影响。第二个目的是确定员工能力对医院员工绩效的影响。本研究的研究对象是 Jember 县政府医院行政部门的所有员工,共计 123 人。抽样时采用了饱和样本,因此样本总数为 123 人。本研究需要原始数据,因此需要通过问卷调查来获取待处理的数据。为了使用所制作的问卷,需要对其有效性和可靠性进行测试。由于本研究旨在确定自变量对因变量的影响,因此有必要对研究假设进行检验。数据处理的结果表明,人力资源开发实际上可以提高 Jember 县医院员工的绩效。事实证明,能力变量对 Jember 县政府医院员工的绩效也有积极影响。
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引用次数: 0
The Effect of Competence and Leadership Style on the Performance of Village Officials in Rambang District, Muara Enim Regency with Motivation as a Mediating Variable 以动机为中介变量,能力和领导风格对穆拉埃尼姆县兰邦区村干部绩效的影响
Pub Date : 2024-07-27 DOI: 10.47191/jefms/v7-i7-52
Achmad Reza Aditya Amin, Mohammad Adam, Zunaidah Zunaidah, I. Andriana, Wita Farla WK
This study aims to analyze and apply the influence of competence and leadership style on the kinera of village officials in Rambang District, Muara Enim Regency with motivation as a mediating variable. The population in this study were all village apparatus organizations in Rambang District Muara Enim Regency as many as 13 villages, each of which had 13 village apparatus, so that the sample obtained was 104 village apparatus. The analysis technique used is regression using the partial least square path modeling (PLS-SEM) method. The results showed that competence affects the performance of village officials, while leadership style has no effect on the performance of village officials. Competence and leadership style affect the motivation of village officials. Motivation is not able to mediate between the influence of competence on the performance of village officials, but motivation is able to mediate between the influence of leadership style on the performance of village officials.
本研究旨在以动机为中介变量,分析和应用能力和领导风格对穆拉埃尼姆县兰邦区村干部的影响。本研究的研究对象是兰邦区穆阿拉-埃尼姆行政区的所有村级机构组织,共有 13 个村,每个村有 13 个村级机构,因此获得的样本为 104 个村级机构。使用的分析技术是部分最小平方路径模型(PLS-SEM)回归法。结果显示,能力影响村官的绩效,而领导风格对村官的绩效没有影响。能力和领导风格影响村官的动机。激励不能在能力对村官绩效的影响之间起到中介作用,但激励能够在领导风格对村官绩效的影响之间起到中介作用。
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引用次数: 0
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JOURNAL OF ECONOMICS, FINANCE AND MANAGEMENT STUDIES
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