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Analysis of the Trend and Countermeasures of the Development of Machinery Industry Under the Background of the New Era
Chuang Fan,
Xiao Dong Huang
Issue:
Volume 10, Issue 5, October 2022
Pages:
237-242
Received:
12 August 2022
Accepted:
2 September 2022
Published:
8 September 2022
DOI:
10.11648/j.ijefm.20221005.11
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Abstract: In the new era, our country's machinery industry has been in the forefront of the world, and has played an important role in promoting the national economic and social development. The development of machinery industry has made great achievements, but also faces many unprecedented challenges. In the new era, how on Earth should China follow the road of new-type industrialization and realize the Chinese Dream of Chinese Dream on the basis of creating a powerful country, is to promote the new era of socialist practice with Chinese characteristics in-depth development of the key must be resolved. Through mining, combing and inducing the research data of the development of our country's machinery industry in the new era, this paper interprets the National Industrial Strategy and the development characteristics of our country's machinery industry in the new era, this paper probes into the achievements and experiences of the equipment manufacturing industry during the 13th five-year plan period, and by using descriptive statistics to collect and sort out the relevant data, puts forward that the future development of the machinery industry will face new challenges and opportunities, in the new era, the development of machinery industry has been placed in the strategic position of the national revitalization of the new momentum, and new forms of business have been constructed to optimize the industrial environment, pay attention to the deepening of the strategy of cultivating the spirit of" Craftsmen of great powers", so that the contribution potential and value of machinery industry will be brought into full play, the high-quality development of machinery industry with Chinese characteristics in the new era will surely usher in a grand prospect of countermeasures and suggestions.
Abstract: In the new era, our country's machinery industry has been in the forefront of the world, and has played an important role in promoting the national economic and social development. The development of machinery industry has made great achievements, but also faces many unprecedented challenges. In the new era, how on Earth should China follow the roa...
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The Selective Incentives in the Governance of Co-operative Banks: The Specific Relationship Between Efficiency and Participatory Loan
Issue:
Volume 10, Issue 5, October 2022
Pages:
243-249
Received:
23 June 2022
Accepted:
5 September 2022
Published:
16 September 2022
DOI:
10.11648/j.ijefm.20221005.12
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Abstract: The governance of co-operative banks since its creation has meant another side of the typical behavior of banks. The main aims of co-operative banks are substantially different in order to methods and practices. This premise could be understanding from ethical point of view but is not always understood in the field of finances & business and that can be established such as a kind of weakness from these entrepreneurships but this is the most outstanding characteristic of this figure. In fact, it make possible, their adaptation to several contexts including market niches impossible to access for large banks and financial institutions. In order to that conviction, this paper have as principal aim develop the theoretical propose on modulation of selective incentive in the governance of co-operative banks and its influence in the efficiency in the case of Participatory loan as an important tool in co-operative governance. The methodic used in this paper it starts from considering the theory of sets as a base and the Olsonian theorization of selective incentives as an element contained in them. The law as a system of values, rules and principles make easier the governance mechanisms around of participatory loans. Different ways of understand this phenomena make possible a plural vision of those; this is a distinctive point of this paper.
Abstract: The governance of co-operative banks since its creation has meant another side of the typical behavior of banks. The main aims of co-operative banks are substantially different in order to methods and practices. This premise could be understanding from ethical point of view but is not always understood in the field of finances & business and that c...
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Macroeconomic Determinants of the National Debt in Djibouti: An ARDL Approach
Issue:
Volume 10, Issue 5, October 2022
Pages:
250-257
Received:
28 August 2022
Accepted:
13 September 2022
Published:
21 September 2022
DOI:
10.11648/j.ijefm.20221005.13
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Abstract: The fundamental aim of this paper is to inspect the way macroeconomic factors such as GDP, Inflation, and government spending affect the national debt of Djibouti. What is more, the paper analyzes the fluctuation of the Djiboutian debt over 20 years. Consequently, the paper employed an autoregressive distributed lag model to evaluate the long-run cointegration between the national debt and the potential variables. The paper mainly focuses on Djibouti from the period 2000 to 2020. After applying the model, the data revealed that in the long run if the GDP and the government spending rise by 1% the national debt simultaneously increase. However, that was not the case for inflation since it had the opposite effect. According to the model, an increase of 1% in inflation cause the national debt to go down. The paper summarizes that all the macroeconomics investigated in this study have a significant and noteworthy impact on the national debt of Djibouti. To start with, growth in the domestic product makes it easier to pay the amount of the debt. Additionally, Djibouti is a country that is heavily relied on external debt. Thus, whenever the government is spending or injecting cash into the public sector it always borrows to meet its obligation. Finally, the Djiboutian currency is tied with the dollar as a result the inflation is quite unremarkable and insignificant.
Abstract: The fundamental aim of this paper is to inspect the way macroeconomic factors such as GDP, Inflation, and government spending affect the national debt of Djibouti. What is more, the paper analyzes the fluctuation of the Djiboutian debt over 20 years. Consequently, the paper employed an autoregressive distributed lag model to evaluate the long-run c...
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Transformation, Upgrading and Innovation of Service Trade in TCM Industry
Xie Rongjun,
Hu Ying,
Yuan Yongyou
Issue:
Volume 10, Issue 5, October 2022
Pages:
258-262
Received:
25 August 2022
Accepted:
30 September 2022
Published:
11 October 2022
DOI:
10.11648/j.ijefm.20221005.14
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Abstract: With the continuous innovation and breakthrough of the new generation of network information technology, the vigorous development of the digital technology economy has become an important driving force for the prosperity of the world economy and empowers the transformation and upgrading of traditional industries. New formats and new models such as online diagnosis and treatment enabled by digital technology have injected new vitality into the trade in traditional Chinese medicine services, and strongly promoted the transformation and upgrading of traditional traditional Chinese medicine service trade. In order to effectively combine digital technology with the development of traditional Chinese medicine service trade and break through various barriers to traditional Chinese medicine services, this paper analyzes the current situation and existing problems of cross-border payment of traditional Chinese medicine, overseas consumption, commercial existence and the flow of natural persons, and analyzes the use of digital technology as well. The mechanism of promoting the development of TCM service trade, including the close relationship with market competitiveness, health concepts, trade barriers and cultural heritage, etc., proposes an innovative TCM service model, adapts to the trend of digital development, improves the international competitiveness of TCM, and coordinates the formulation of China’s international medicine standards and supervision rules and other relevant countermeasures and suggestions.
Abstract: With the continuous innovation and breakthrough of the new generation of network information technology, the vigorous development of the digital technology economy has become an important driving force for the prosperity of the world economy and empowers the transformation and upgrading of traditional industries. New formats and new models such as ...
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Analyses of the Practice of Lean Business System in Textile Design and Production of Smocks in Northern Ghana for Sustainable Development
Abdul Fatahi Ibrahim,
Eric Bruce Amartey-Jnr,
Sumaila Mohammed Sumaila
Issue:
Volume 10, Issue 5, October 2022
Pages:
263-279
Received:
10 August 2022
Accepted:
27 September 2022
Published:
17 October 2022
DOI:
10.11648/j.ijefm.20221005.15
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Abstract: Lean Production has defeated the judgment of it being another management fad. Lean manufacturing comprises a mixture of systems and procedures, all of which have a similar ultimate purpose; to reduce waste and non-value-added activities at each production or service process to provide the most fulfilment to the consumer. To continue to be competitive, several textile producers have attempted to advance their manufacturing methods so that they can more easily compete with other international producers. A growing number of industries in emerging countries are executing lean production to generate performance advancements and remain competitive. The current study's central thrust is to analyse the textile design and production effectiveness with the lean business system as a final model of smock production in Northern Ghana. The study employed essential concepts from the theory of constraints and contingency theory organisation design to explain the textile design and production effectiveness with the lean business system of smock production in northern Ghana. An exploratory and descriptive research design was chosen due to the nature of the study. A mixed method strategy was employed to reach conclusions that are accurate, reliable and reproducible. The population of the study is made up of 89 participants, focused on weavers and sewers working in smock production in Northern Ghana. Interviews, as well as questionnaires, were employed to collect the required data for the study. SPSS was employed to analyze the quantitative data. The major empirical findings of the study demonstrate that respondents have no idea about lean business practices. Thus, smock producers demonstrated their lack of understanding when it comes to the concept of lean business practices, and as a result, there is a low level of application of the lean business concept in the Ghanaian textile industry.
Abstract: Lean Production has defeated the judgment of it being another management fad. Lean manufacturing comprises a mixture of systems and procedures, all of which have a similar ultimate purpose; to reduce waste and non-value-added activities at each production or service process to provide the most fulfilment to the consumer. To continue to be competiti...
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The Impact of Deviation from Budgetary Expenditure on the Efficiency of Local Government Expenditure: An Empirical Analysis Based on Provincial Data from China 2007 to 2019
Qifei Peng,
Xingyue Huang,
Nan Jin,
Hangjie Li,
Huan Liu
Issue:
Volume 10, Issue 5, October 2022
Pages:
280-287
Received:
18 September 2022
Accepted:
20 October 2022
Published:
24 October 2022
DOI:
10.11648/j.ijefm.20221005.16
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Abstract: The budget is an important vehicle for the government to regulate the economy and allocate financial resources, and deviations in the execution of the budget and accounts will, to a certain extent, affect the government's ability to govern and the public's trust in the government. Keeping the deviation from the budget within a reasonable range plays a crucial role in establishing a modern budget system that is comprehensive, standardized, transparent, scientific and strong in restraint, and giving full play to the function of finance as the foundation and important pillar in national governance. Starting from government expenditure efficiency, the author studied the impact of budget deviation and government expenditure efficiency through the empirical analysis of Feasible Generalized Least Square (FGLS) model estimation based on theoretical analysis and using provincial panel data from 2007-2019, and obtained the following conclusions: (1) There is a significant negative relationship between local budget expenditure deviation and government expenditure efficiency. (2) There is a spatially significant negative relationship between local government budget deviation in education, social security and urban and rural communities on government expenditure efficiency in these areas. Therefore, this paper proposes: strengthening the management of local budget revenue and expenditure adjustments, improving financial performance management and administrative accountability mechanisms, and enhancing the implementation of the concept of scientific budgeting in practice.
Abstract: The budget is an important vehicle for the government to regulate the economy and allocate financial resources, and deviations in the execution of the budget and accounts will, to a certain extent, affect the government's ability to govern and the public's trust in the government. Keeping the deviation from the budget within a reasonable range play...
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The Influence of Market Risk on Profitability of Microfinance Institutions in Tanzania: A Case of FINCA Microfinance Bank
Kennedy Henry Mbuya,
Amani Tegambwage
Issue:
Volume 10, Issue 5, October 2022
Pages:
288-298
Received:
2 August 2022
Accepted:
5 September 2022
Published:
24 October 2022
DOI:
10.11648/j.ijefm.20221005.17
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Abstract: This study assessed the influence of market risk on the profitability of microfinance institutions (MFIs) in Tanzania. Market risk is divided into interest rate risk and foreign exchange rate risk whose indicators were net interest margin and foreign exchange gains or losses respectively while having Gross Domestic Product (GDP), inflation, and money supply as control variables. The profitability of microfinance institutions (MFIs) was measured by ROAA. The study employed a quantitative research approach and time-series research design. Secondary data was used in the course of this study, which was generated from the quarterly audited financial statements of FINCA microfinance bank from 2010 to 2020. In the analysis of data, the study employed descriptive statistics, pairwise correlation matrix, unit root and Johansen test for co-integration. Autoregressive Distributed Lag (ARDL) model and Error Correction Model (ECM) were used to determine both short-run and long-run effect of interest rate and foreign exchange rate on profitability respectively. The results of the co-integration test indicated that there is no long-run relationship between interest rate, foreign exchange rate and profitability. Interest rate and lag of GDP have a statistically significant positive short-run effect on profitability. Lastly, foreign exchange risk has a negative significant association with profitability in the long run while it has no statistically significant influence on profitability in the short run. Macroeconomic variables have no significant influence on the profitability of MFIs both in the short run and in the long run. It is recommended that the MFIs in Tanzania especially the locally owned need to find ways to mitigate the effect caused by market risk factors on their profits including the use of financial derivatives and asset securitization.
Abstract: This study assessed the influence of market risk on the profitability of microfinance institutions (MFIs) in Tanzania. Market risk is divided into interest rate risk and foreign exchange rate risk whose indicators were net interest margin and foreign exchange gains or losses respectively while having Gross Domestic Product (GDP), inflation, and mon...
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A Research-Based Model of Corporate Social Responsibility in Nigeria: The Case for Mandatory Disclosure Regulation
Issue:
Volume 10, Issue 5, October 2022
Pages:
299-306
Received:
5 October 2022
Accepted:
24 October 2022
Published:
30 October 2022
DOI:
10.11648/j.ijefm.20221005.18
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Abstract: In the past, most attempts towards mandatory Corporate Social Responsibility (CSR) disclosure did not yield much results. However, there is growing body of evidence in the literature indicating that an increasing CSR disclosure in recent years has been the result of obeying government regulations. While voluntary CSR initiatives have continued to enjoy huge patronage by businesses operating in sub-Saharan Africa, a number of scholars have raised doubts as to the effectiveness of voluntary approach of CSR in meeting the disclosure needs of stakeholders in developing countries where CSR policies and institutional frameworks appears inadequate. This study employed a qualitative research methodology and made use of semi-structured interview design with a population census of 16. Furthermore, an in-depth analysis of participants’ responses was conducted with the aid of NVivo 11 data analysis software. The results revealed participants preference for mandatory CSR disclosure regulation aimed at stimulating companies to raise the level of their ethical conduct. Also, the findings highlighted the desire to protect organizational legitimacy by firms, absence of regulatory framework, weak system of governance and absence of grievance system as some of the contextual factors limiting CSR disclosure in Nigeria. From a public policy perspective, the study developed a framework for the implementation of CSR “comply or explain” model in a developing country context, and recommends that governments in sub-Saharan Africa should pass legislations to promote CSR practice.
Abstract: In the past, most attempts towards mandatory Corporate Social Responsibility (CSR) disclosure did not yield much results. However, there is growing body of evidence in the literature indicating that an increasing CSR disclosure in recent years has been the result of obeying government regulations. While voluntary CSR initiatives have continued to e...
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