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The Determinants of Export Performance in a Small Open Economy: The Case of Sierra Leone
Abu Bakarr Tarawalie,
Morris Conteh
Issue:
Volume 9, Issue 1, February 2021
Pages:
1-6
Received:
19 January 2021
Accepted:
28 January 2021
Published:
2 February 2021
Abstract: The main objective of this paper is to investigate the determinants of export performance in Sierra Leone. The study uses annual time series data from 1980 to 2018 within the ARDL bound testing framework. The stationarity test indicates that all the variables are I(1) series, whilst the bound test result shows there is cointegration. The result reveals that FDI, REER and dummy variable for war are the main determinants of export performance in the long run. Also, the result confirms that FDI and inflation are the significant variables influencing export performance in the short run. Furthermore, with a coefficient of 0.51, the result indicates that 51 percent of any disturbance emanating from previous year’s shocks will be corrected in the current year. The diagnostic test reveals that, approximately 69 percent of the variation in export performance is determined by the exogenous variables as evident by the R-square value. Overall, the probability value of the F-statistic (0.000000), shows that model is significant. The results of CUSUM and CUSUMSQ statistics indicate parameter stability. In order to improve the country’s export performance, the paper recommends that government should ensure macroeconomic stability, design incentive mechanisms to encourage foreign direct investment and also maintain a politically stable economy.
Abstract: The main objective of this paper is to investigate the determinants of export performance in Sierra Leone. The study uses annual time series data from 1980 to 2018 within the ARDL bound testing framework. The stationarity test indicates that all the variables are I(1) series, whilst the bound test result shows there is cointegration. The result rev...
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Profitability Analysis Overview for Certified Arabica Coffee Seed Production to Seed Entrepreneurs in Ethiopia
Issue:
Volume 9, Issue 1, February 2021
Pages:
7-15
Received:
26 December 2020
Accepted:
11 January 2021
Published:
9 February 2021
Abstract: The objectives of the enterprise is to provide high yielding, disease-resistant, pure, viable, and quality coffee seed services to coffee growers, NGO’s and other private and governmental coffee-growing sectors. It will start as a private limited company with two stakeholders. The business starts its production with the amount of 10qt/ha certified coffee seeds. Annual production will begin a total of 20,000 kg (200qt) from 20 hectares after four years, which the business starts, and increase to 50,000kg (500qt) with a total area of 50 hectares after year six. The business will produce certified Arabica coffee seed to four agro-ecological production areas; which are Harar, Wollega (Nekemt), Limu and Sidama/Yirgacheffee coffee specialties. These coffee production regions have their own quality standards; to meet that standard and maximize the national market opportunity the business is paramount. The majority of the business will be sold in their own shop, but as production increases, the owners will utilize other distribution channels to reach the individual customers. The amount of money required to start up the business will be Birr 1,000,000. From this, 50% will be from the bank with 15 years loan period and 50% own saving. Out of the total initial investment birr 420,000 will be used for asset cost and 580,000 working cost. Generally, this capital will be used to construct the certified coffee seed store, to purchase tractors, coffee processing machines, generator office materials, and the necessary farm equipment, and to cover operating expenses. The enterprise requires 20 to 30 daily and contract workers when the business starts and increases more than 50 workers after five years of establishment. The profitability assumption is based on the total annual production of 500,000 Kg of coffee seeds. This is the volume of the product that will be supplied to the market after the projected permanently established. GGCACSE will be selling certified coffee seed at a basic minimum of birr 110 per kilogram - the maximum price will depend on the market. The average net profit margin over the projected three-year production period, based on the price of birr 110/kg is estimated at 29.3%. The break-even percentage is 3.34. At this point the business neither profit nor loss. The project is expected to provide an annual net profit in the fourth, fifth year 546,582 ETB and 769,096 ETB respectively. It will be increased to 1,912,153 ETB after six years of business establishment.
Abstract: The objectives of the enterprise is to provide high yielding, disease-resistant, pure, viable, and quality coffee seed services to coffee growers, NGO’s and other private and governmental coffee-growing sectors. It will start as a private limited company with two stakeholders. The business starts its production with the amount of 10qt/ha certified ...
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New Measures of Financial Risk, Motivated by Pharmaceutical Research
Anne-Marie Oreskovich,
John Gittins
Issue:
Volume 9, Issue 1, February 2021
Pages:
16-28
Received:
15 March 2019
Accepted:
5 May 2019
Published:
10 February 2021
Abstract: The paper begins by reviewing the available procedures for measuring value and risk in pharmaceutical research projects. These include Net Present Value (NPV) and its variance, Real Options Valuation (ROV), the Capital Asset Pricing Model (CAPM), Value at Risk (VaR) and Utility. None of these measures focuses specifically on risk as it is perceived by the research manager, except arguably for Utility, which has the serious disadvantage of being by definition a subjective measure. This paper proposes two additional risk measures to go some way towards plugging the gap in what is available. Their advantages are that they: focus on maximum exposure to adverse outcomes, a metric most decision makers have in mind when they wish to evaluate risk; are objective rather than subjective, in contrast to utilities; are easier to specify and more transparent than utilities, since they are in cash terms; are project specific unlike CAPM; satisfy the technical test of coherence, unlike VaR, so it is not possible that diversifying a portfolio could increase the measured risk. The new measures are shown to measure different things from the variance of NPV, which is in some ways similar, and a start is made on exploring what their values are for different patterns of cash flow.
Abstract: The paper begins by reviewing the available procedures for measuring value and risk in pharmaceutical research projects. These include Net Present Value (NPV) and its variance, Real Options Valuation (ROV), the Capital Asset Pricing Model (CAPM), Value at Risk (VaR) and Utility. None of these measures focuses specifically on risk as it is perceived...
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Academic Genealogy Analysis Based on Knowledge Graph
Issue:
Volume 9, Issue 1, February 2021
Pages:
29-37
Received:
14 December 2020
Published:
3 March 2021
Abstract: [Background] In the process of development of science, scientific theories are constantly improved and evolved, and technologies are constantly changed. The process of passing on and developing knowledge, technology, and culture from generation to generation of scientists and technologists, as well as the process of the new generation of scientists and technologists stepping on the shoulders of their predecessors and creating new knowledge, has had a positive and facilitating influence on the development of science. From this perspective, it is necessary and urgent to sort out disciplinary genealogical relationships, clarify the lineage of knowledge transmission, and study the academic genealogy of contemporary Chinese scientists.[Purpose/significance] Through the study of academic genealogical reproduction capacity, it is possible to understand the evolutionary process of knowledge transformation and innovation in the intergenerational transmission of knowledge, to explore the impact on the intergenerational transmission of knowledge, to promote knowledge transformation, and to cultivate modern scientific and technological talents. [Method/process] This paper applies the theories and methods of bibliometrics, social network analysis, and co-word analysis, a visualization technique is used to construct a model for analyzing the factors influencing the reproductive capacity of scientists' academic genealogy. [Results/conclusions] The analysis targets senior scholar Qiu Junping and his descendants, constructs a knowledge map of the academic genealogy of scientists, and discusses the factors influencing the reproductive capacity of academic genealogy.
Abstract: [Background] In the process of development of science, scientific theories are constantly improved and evolved, and technologies are constantly changed. The process of passing on and developing knowledge, technology, and culture from generation to generation of scientists and technologists, as well as the process of the new generation of scientists...
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Research on the Relationships Among Customer Participation, Knowledge Integration and New Product Development Performance
Issue:
Volume 9, Issue 1, February 2021
Pages:
38-45
Received:
18 January 2021
Published:
3 March 2021
Abstract: Under the background of the knowledge economy, business managers have gradually realized that improving innovation performance requires breaking organizational boundaries to obtain knowledge, technology and other resources from the outside. As one of the important external subjects of new product development (NPD), customers actively participate in NPD activities become an effective way to acquire customer knowledge. However, there are still divergent studies on the effect of customer participation (CP) on NPD performance. In view of this, this research explores the relationship between customer participation, knowledge integration, absorptive capacity, and NPD performance, and this paper empirically studied the influence of CP on NPD performance through a large sample questionnaire survey, and focused on the analysis of the mediating role of knowledge integration and the moderating effect of absorptive capacity. The results show that CP has a significant positive effect on knowledge integration and NPD performance; knowledge integration has mediating effect between CP and NPD performance; Absorptive capacity positively moderates the relationship between CP and knowledge integration, but has no significant moderating effect on CP and NPD performance. From the perspective of knowledge management, this study links customer participation with NPD performance, and the research results not only have important theoretical implications for the in-depth study of customer participation, NPD performance, knowledge integration and absorptive capacity, but also have important practical significance to improve the success rate of NPD and promote high-quality development.
Abstract: Under the background of the knowledge economy, business managers have gradually realized that improving innovation performance requires breaking organizational boundaries to obtain knowledge, technology and other resources from the outside. As one of the important external subjects of new product development (NPD), customers actively participate in...
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