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Research on the Impact of Artificial Intelligence Innovation on Manufacturing Enterprise Idiosyncratic Risk
Issue:
Volume 11, Issue 3, June 2023
Pages:
87-92
Received:
2 April 2023
Accepted:
21 April 2023
Published:
27 April 2023
Abstract: Under the background of the digital economy, the world is more closely connected, which also means the magnification of uncertainty and the elevation of the risk level of enterprise characteristics. How to make the enterprise have core competitiveness and reduce the enterprise's characteristic risk as much as possible, both the theoreticians and practitioners need to pay attention to and solve the problem. AI innovation is an important way for manufacturing enterprises to gain competitive advantage in the era of the digital economy. The existing data show that more scholars believe that technological innovation plays an important role in effectively reducing the risk of enterprise characteristics, and have a thorough discussion on it, it is found that not only the individual level of the enterprise factors will have an impact on the idiosyncratic risk, the internal resources of the enterprise will also have an impact on the idiosyncratic risk. As an important resource for enterprises to gain competitive advantage, redundant resources in this framework have attracted much attention from scholars. However, some studies have not revealed the mechanism and lack reliable empirical conclusions. Therefore, from the perspective of redundant resources to explore the impact of the digital economy era to reduce enterprise risk factors and their mechanisms have significant theoretical and practical value.
Abstract: Under the background of the digital economy, the world is more closely connected, which also means the magnification of uncertainty and the elevation of the risk level of enterprise characteristics. How to make the enterprise have core competitiveness and reduce the enterprise's characteristic risk as much as possible, both the theoreticians and pr...
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Impact of Islamic Finance on Economic Growth in Egypt
Mohamed Fathy Abdelgany,
Rahaf Mohammed Hussein
Issue:
Volume 11, Issue 3, June 2023
Pages:
93-103
Received:
25 March 2023
Accepted:
24 April 2023
Published:
10 May 2023
Abstract: The importance of Islamic finance is increasing worldwide not only in countries which its majority are Muslims but also in countries where Muslims are minority such as Japan and the United Kingdom whereas the number of Islamic financial institutions has increased significantly in the Middle East and Southeast Asia, however, the literature that examined Islamic finance impact on the real economy is rare, thus, the aim of this paper is to examine the effect of Islamic finance, specifically Islamic banking, on economic growth and on investment in Egypt through two empirical models; the first one examines the impact of Islamic finance on economic growth and the second one examines the impact of Islamic finance on investment. For both models, the paper utilizes annual time series data during the period from 2002 up to 2021 and employs Autoregressive Distributed Lag (ARDL) bounds testing approach, and Error Correction Model (ECM). The results of the paper demonstrate that there is a significant positive relationship between Islamic finance and economic growth and between Islamic finance and investment in Egypt. The paper recommends increasing the accessibility to Islamic financial services by increasing the Islamic banks branches and ATMs and Islamic banks should care about marketing of its products.
Abstract: The importance of Islamic finance is increasing worldwide not only in countries which its majority are Muslims but also in countries where Muslims are minority such as Japan and the United Kingdom whereas the number of Islamic financial institutions has increased significantly in the Middle East and Southeast Asia, however, the literature that exam...
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On Inclusive Growth: An Economic Growth Time-Frequency Analysis of the Democratic Republic of Congo from 1975-2016
Glody Singa,
René Gilles Bokolo
Issue:
Volume 11, Issue 3, June 2023
Pages:
104-111
Received:
3 April 2023
Accepted:
24 April 2023
Published:
10 May 2023
Abstract: This paper focuses on fluctuations in the inclusiveness of economic growth (in terms of its participatory aspect) in the Democratic Republic of Congo at different time scales. We investigate the extent to which variations in economic growth are explained by variations in the unemployment rate, the agricultural sector, and the mining sector, using an econometric model known as Auto-Regressive Distributed Lag model which will give us both short and long-term impulse responses in order to identify the dynamics of our variables (endogenous and exogenous). In the same vein, we show that the development of a structural economic policy is imperative to overcome the problem of the non-resilience of the Congolese economy, in particular through the promotion of growth-catalyzing sectors in order to generate more wealth to be equitably redistributed to each segment of the Congolese population as well as to the pro-poor sectors. Moreover, knowing that the Congolese economy has been confronted with multiple shocks (supply and demand) to the point of damaging its sustainability, the information contained in the fluctuations of economic growth informs us about the state of inclusive growth in its entirety relative to the interference of the Congolese state. Thus, the cyclical movements of economic growth are extracted using a multi-resolution analysis (or wavelet decomposition) that spreads a time series at different levels of resolution.
Abstract: This paper focuses on fluctuations in the inclusiveness of economic growth (in terms of its participatory aspect) in the Democratic Republic of Congo at different time scales. We investigate the extent to which variations in economic growth are explained by variations in the unemployment rate, the agricultural sector, and the mining sector, using a...
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The Effect of Locus of Control, Leadership Style, and Professional Training on Internal Auditor Performance
Darma Yanti,
Nurul Hutami Ningsih,
Fenty Astrina,
Yusnaini
Issue:
Volume 11, Issue 3, June 2023
Pages:
112-118
Received:
16 March 2023
Accepted:
17 April 2023
Published:
18 May 2023
Abstract: This research empirical study was conducted on 9 State-Owned Enterprises in Palembang City, Indonesia with 35 company internal auditors as respondents. This study aims to answer the hypothesis about the influence of Locus of Control, Leadership Style and Professional Training on the performance of internal auditors. The method used is a quantitative method. The results of the study show that locus of control has no significant effect, this means that the source of individual behavior can come from internal and external factors. Individuals with an external locus of control have more limitations in processing information so that their performance is less than optimal. This behavior proves that individual characteristics can affect auditor performance. But in fact obtained from a preliminary survey at PT. Bureau of Classification of Indonesia Bureau stated that this company did not implement a locus of control, which according to this company the locus of control was not related to the performance of the auditors themselves., leadership style has no significant effect, leadership style is a leader's way of influencing other people/subordinates in such a way that the person wants to do the leader's will to achieve organizational goals even though personally it may not be liked but in this study leadership style did not affect the performance of internal auditors. with a negative influence value because state-owned companies have not implemented democratic type leadership behavior, which means that all control is in the hands of company leaders regardless of the opinions and desires of their subordinates and professional training has a significant effect on the performance of internal auditors, meaning the provision of professional training programs will have a greater influence in improving auditor performance. Auditor experience gained through training conducted by the company will increase accuracy and gain new experience in auditing audits. Partially locus of control and leadership style have no significant effect on the performance of internal auditors, while professional training has a significant effect on internal auditor performance.
Abstract: This research empirical study was conducted on 9 State-Owned Enterprises in Palembang City, Indonesia with 35 company internal auditors as respondents. This study aims to answer the hypothesis about the influence of Locus of Control, Leadership Style and Professional Training on the performance of internal auditors. The method used is a quantitativ...
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The Impact of the COVID-19 on China’s Real Estate and the Development Strategy of Real Estate in the Post Epidemic Era
Issue:
Volume 11, Issue 3, June 2023
Pages:
119-126
Received:
14 March 2023
Accepted:
8 May 2023
Published:
18 May 2023
Abstract: The real estate market is an important part of China's market economy. It is the stabilizer and ballast stone of economic development and is very important to the healthy development of the whole macro-economy. The sudden COVID-19 epidemic has brought earth-shaking changes to the social and economic development, and various industries have been severely challenged, especially causing an unprecedented impact on China's real estate market. The epidemic has had an all-round and profound impact on China's real estate investment, sales and regional layout. In order to ensure the healthy and stable development of the real estate industry and quickly carry out economic recovery after the epidemic, this paper focuses on the impact of the epidemic on economic operation and makes an in-depth analysis of the economic environment and the real estate market. At the same time, this paper also puts forward some development strategies, such as building competitive products, seizing merger and acquisition opportunities, broadening cooperation models and other development strategies. With the effective control of the epidemic, the development of the real estate industry has entered a new trend and a new stage. We should grasp the factors hindering the development of the real estate economy and adopt targeted strategies to provide guarantee for the sustainable development of the real estate economy. There are reasons to believe that China's real estate industry will step into a more healthy development track in the near future.
Abstract: The real estate market is an important part of China's market economy. It is the stabilizer and ballast stone of economic development and is very important to the healthy development of the whole macro-economy. The sudden COVID-19 epidemic has brought earth-shaking changes to the social and economic development, and various industries have been sev...
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The Impact of Information and Communication Technologies on Competitiveness: Evidence from MENA Countries
Mohamed Fathy Abdelgany,
Hadeer Hussian Mahmoud
Issue:
Volume 11, Issue 3, June 2023
Pages:
127-138
Received:
24 April 2023
Accepted:
13 May 2023
Published:
24 May 2023
Abstract: Information and communication technologies (ICTs) have recently emerged as a snowballing phenomenon that orient competitiveness strategies. They are vital and critical aspect for countries to not only improve their global competitiveness, but they also accomplish long-term growth. Latest developments in the Middle East and North African (MENA) countries render the region to be an appealing case study. This study aims at investigating the impact of ICTs in supporting the competitiveness in a sample of (13) countries in the MENA region during the period from 2010 to 2021. To accomplish this purpose, the study employs an econometric model that utilizes the dynamic Generalized Method of Moments (GMM) estimator. Moreover, the results are confirmed by implementing two models. The first model measured ICTs by an indicator which is networked readiness index (NRI). The second model measured ICTs by individuals using the internet (IUI) and the competitiveness in both models was measured by global competitiveness index (GCI). The findings indicated that networked readiness index (NRI) and individuals using the internet (IUI) have a significant and positive impact on the competitiveness in MENA countries. The study recommended that countries in the MENA region should inevitably accelerate the procedures of developing ICTs and support the ICT infrastructure in order to increase their competitiveness.
Abstract: Information and communication technologies (ICTs) have recently emerged as a snowballing phenomenon that orient competitiveness strategies. They are vital and critical aspect for countries to not only improve their global competitiveness, but they also accomplish long-term growth. Latest developments in the Middle East and North African (MENA) coun...
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Assigning Financial Stability Role to Central Banks: The Case of Bank of Sierra Leone
Issue:
Volume 11, Issue 3, June 2023
Pages:
139-144
Received:
14 April 2023
Accepted:
16 May 2023
Published:
29 May 2023
Abstract: After the great financial crisis of 2007/8 and its contagious effects on economies across the world, many countries including Sierra Leone began focusing more attention on their financial systems stability. The key question for policy makers was which institution could be best assigned the financial stability role, given the current institutional arrangement? This paper attempts to present a clear case on why the Bank of Sierra Leone was best suited for financial stability role as enshrined in the Bank of Sierra Leone Act 2019 and the level of framework necessary for the effective execution of this new objective. In addition, Calvo et al (2018) revealed that of the jurisdictions surveyed, 78 percent allocated financial stability responsibility solely to their central banks, and increasing number of jurisdictions have dedicated inter-agency committee in which the central bank plays an important role. Interestingly, for the case of the West African Monetary Zone (WAMZ) region, the central banks are solely responsible for financial stability and prudential guidelines. From the analysis, we also discovered that while the current institutional arrangement may not be sufficiently adequate for sound financial stability implementation, the process of developing a strong financial stability framework was at an advanced stage. The study thus concludes that assigning this role to the Bank of Sierra Leone was the right move as it was already charged with banks’ prudential guidelines and no other institution in Sierra Leone was better placed for it. The study therefore recommends the need for more financial sector reforms to mitigate risks emanating from financial imbalances and destabilising interaction among various key markets, payment and financial institutions.
Abstract: After the great financial crisis of 2007/8 and its contagious effects on economies across the world, many countries including Sierra Leone began focusing more attention on their financial systems stability. The key question for policy makers was which institution could be best assigned the financial stability role, given the current institutional a...
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Europe and Russia's Energy Problems in the Context of the Russian-Ukrainian War
Jialiang Zhang,
Matthew Grimes
Issue:
Volume 11, Issue 3, June 2023
Pages:
145-150
Received:
16 March 2023
Accepted:
23 May 2023
Published:
29 May 2023
Abstract: Russia and Europe have very close economic relations. In 2020, Russia was the fifth largest trading partner of the EU, with the EU's trade with Russia accounting for 4.8% of its total foreign trade. Following the outbreak of the Russia-Ukraine conflict, political and economic relations between Europe and Russia have deteriorated significantly, and both economies have suffered as a result. International energy prices have risen sharply due to the uncertainty surrounding global energy supply, trade and transport. Here, using Nord Stream as an analytical example, we looked in depth at the Russian-Ukrainian conflict in the energy sector and the prospects for the development of the energy sector in the aftermath of the conflict, as well as the potential implications for other countries, such as Western Europe and the United States. We concluded that the Russian-European game reflects the power differential resulting from their unequal and compounded interdependence structure, which has been affected to some extent by the outbreak of the Russia-Ukraine conflict. As the implementation of alternatives between Russia and Europe accelerates, the interdependence between the two will tend to decline in the future. However, the Russian-Ukrainian conflict will hardly fundamentally change the mutual benefits of the Russian-European gas relationship, which will remain competitive and uncertain due to the security crisis, differences in energy security concepts between the two sides and interference from the US.
Abstract: Russia and Europe have very close economic relations. In 2020, Russia was the fifth largest trading partner of the EU, with the EU's trade with Russia accounting for 4.8% of its total foreign trade. Following the outbreak of the Russia-Ukraine conflict, political and economic relations between Europe and Russia have deteriorated significantly, and ...
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The Effect of Industrial Intermediate Inputs on the Export Diversity of Chinese Enterprises
Issue:
Volume 11, Issue 3, June 2023
Pages:
151-159
Received:
4 May 2023
Accepted:
23 May 2023
Published:
29 May 2023
Abstract: China has put forward the policy direction of domestic market integration in response to the volatile domestic and international political and economic environment. Meanwhile, enterprise export diversification is becoming the research frontier of the new trade theory (NTT). In order to make research on the factors affecting or determining export diversification in the contemporary context, this paper links the trend of domestic market integration with export diversification, and constructs a fixed-effects regression model using the Chinese industrial-enterprise customs matching database from 2000 to 2007 to study the relationship between industrial intermediate inputs and export diversification and the enterprise heterogeneity effects. According to the empirical results, it shows that the increase of intermediate inputs can promote the export diversification. The results of the heterogeneity analysis show that such kind of effect also varies depending on the differences in firm ownership, firm location, firm trade patterns, and capital intensity. In such a case, in order to complete the industrial upgrading of the domestic value chain and upgrade the export industrial structure under the trend of domestic market integration, it is necessary to pay attention to the liberalization of intermediate goods trade and the improvement of relevant policy conditions.
Abstract: China has put forward the policy direction of domestic market integration in response to the volatile domestic and international political and economic environment. Meanwhile, enterprise export diversification is becoming the research frontier of the new trade theory (NTT). In order to make research on the factors affecting or determining export di...
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Hybrid Warfare and Financial Market Volatility: The Case of the Recent Ukrainian Crisis of 2021
Kéba Aly Goudiaby,
Amon Aniké Deh
Issue:
Volume 11, Issue 3, June 2023
Pages:
160-167
Received:
10 May 2023
Accepted:
7 June 2023
Published:
20 June 2023
Abstract: The purpose of this article is to study the impact of a hybrid war on the volatility of financial markets. The data on the returns of Ukrainian, Russian, German, American, English and French stock indices are taken from the Boursorama database during the tension period from November 10, 2021 to February 23, 2022. The results of our study with the ARCH / GARCH models show that military escalation conveyed by aggressive speeches, arms transfers, troop massification, fake news, military exercises, threats of sanctions, suspicions of invasion as well as de-escalation conveyed by talks, soothing speeches, cessation of military exercises and withdrawal of Russian troops from the Ukrainian border significantly impact the volatility of the stock market indexes studied. This work could be useful to understand the anticipation and the reaction of rational and irrational investors on the markets in case of a hybrid war situation but also the contagion that this could generate on the other financial markets through the channels of financial contagion in this context of hybrid war that are the dependence on certain commodities (gas, wheat, oil) and also a psychological contagion due to the extreme fear and the emotion of investors on the markets.
Abstract: The purpose of this article is to study the impact of a hybrid war on the volatility of financial markets. The data on the returns of Ukrainian, Russian, German, American, English and French stock indices are taken from the Boursorama database during the tension period from November 10, 2021 to February 23, 2022. The results of our study with the A...
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Consumer Learning and Split-Brain Theory: Potential Usage in an Advertisement
Anima Karmakar,
Ziarat Hossain Khan,
Mustaqim Roshid,
Shahira Hoshain Yesmin,
Farjana Bashar Shamme
Issue:
Volume 11, Issue 3, June 2023
Pages:
168-176
Received:
25 May 2023
Accepted:
19 June 2023
Published:
27 June 2023
Abstract: Understanding customers has an enormously beneficial effect on market success. Repeated advertising combining emotional and rational appeals is one technique to establish a foothold in the minds of consumers. Even advertisements on reality programs, movies, and sports are frequent forms of informing clients about the product most commonly used in marketing. Marketers nowadays can employ neuromarketing to tap into consumers' unconscious brain processes, but evaluating neuromarketing approaches is costly. Using split-brain theory, advertisers can better anticipate how consumers respond to their messages. Despite the fact that rational thought would dissuade them from owning an object, people often acquire an emotional attachment to things. This study looked at four countries and their major brands of refrigerators to see how ads' content related to the left and right sides of the brain. This study found that While Germany and India tend to concentrate on the brain's right hemisphere, Bangladesh places equal emphasis on the left and right sides. However, the United States tends to use the left side of the brain more. A consumer's demand can be influenced by economic, demographic, cultural, and political issues, which in turn ultimately causes a consumer's mind to connect with promotional efforts. The findings of this study could be utilized to guide content selections for campaigns both domestically and internationally, which has significant ramifications for advertising agencies.
Abstract: Understanding customers has an enormously beneficial effect on market success. Repeated advertising combining emotional and rational appeals is one technique to establish a foothold in the minds of consumers. Even advertisements on reality programs, movies, and sports are frequent forms of informing clients about the product most commonly used in m...
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