Series-4 (Jan-Feb 2019)Jan-Feb 2019 Issue Statistics
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| Paper Type | : | Research Paper |
| Title | : | The Evolution Of Money – A Brief Introduction Into The Emergence Of Cryptocurrencies |
| Country | : | Austria |
| Authors | : | Markus Schindler, MA |
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: | 10.9790/5933-1001040107  |
Abstract: Cryptocurrencies like Bitcoin and Ethereum are experiencing a veritable boom. However, the prevailing opinion among many investors and consumers, is that these digital currencies are only for computer experts, with no potential as a means of transaction or as an investment. Cryptocurrencies as applications on the Blockchain and community based decentralized open ledger technologies have been very controversial issues ever since they have come into existence.This literature review aims to provide a brief introduction to the history of money, illustrate the role of central banks and national banks in our economic system and explain why cryptocurrencies could be the next evolution of a modern value-transfer system. The underlying technology of cryptocurrencies, the Blockchain, may be an as disrupting technology leap as the invention of the Internet and there may be a chance this technology is going to change the way we trade and interact as human beings without the need of trustworthy third parties as banks.
[1]. Allen, Larry. 2009. The Encyclopedia of Money. Santa Barbara: ABC-CLIO. LLC.
[2]. Arnold, Roger A. 2005. Economic. Mason: Thomson Higher Education.
[3]. BBC News. 2017. "Steam stops accepting payments in bitcoins". Accessed June 23, 2018. https://www.bbc.com/news/technology-42264622.
[4]. Berger, Nils. 2016. Wie Funktionieren Zentralbanken? Geld- und Währungspolitik verstehen. Wiesbaden: Springer Gabler.
[5]. Biggs, John. 2018. "Researchers find that one person likely drove Bitcoin from USD 150 to USD 1000". Accessed July 16, 2018. https://techcrunch.com/2018/01/15/researchers-finds-that-one-person-likely-drove-bitcoin-from-150-to-1000/?guccounter=1.
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| Paper Type | : | Research Paper |
| Title | : | CEO Ability, CEO Ownership and Profitability as Determinants of Capital Structure of Companies Registered On Indonesia Stock Exchange |
| Country | : | Indonesia |
| Authors | : | Jaelani La Masidonda |
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: | 10.9790/5933-1001040812 |
Abstract: This researchwas intended to analyze CEO Ability and CEO ownership as determinants of capital structure in an integrated manner with profitability. The model was developed to test and analyze the impact of CEO Ability proxied by term of office (MJ), CEO ownership which was proxied by the number of shares held by the CEO and profitability which was proxied by return on sales (ROS) to the capital structure which was proxied by long term debt to total assets (LTDA). The research was conducted on manufacturing companies registrated on the Indonesia Stock Exchange. The results of the research found that CEO ability did not affect the capital structure because the capital structure was determined by capitalizing dividends and converting shareholder loans into company share ownership. CEO ownership and profitability had the effect of reducing the capital structure because CEO who shares the company's shares, would seriously increase profitability and equity as a form of improving the welfare of the owner and impact on reducing the use of debt in the capital structure.
Keywords: CEO Ability, CEO Ownership, Profitability and Capital Structure
[1]. Akhtar Shumi and Oliver Barry, 2009. Determinants of Capital Structure for Japanese Multinational and Domestic Corporations, International Review of Finance, 9 (1–2). p.1–26
[2]. Alfiarti Rahma, 2014. Pengaruh Kepemilikan Manajerial, Kepemilikan Institusional, dan Ukuran Perusahaan terhadap Keputusan Pendanaan dan Nilai Perusahaan (Studi Kasus pada Perusahaan Manufaktur yang terdaftar di Bursa Efek Indonesia periode 2009-2012) Jurnal Bisnis Strategi Vol. 23 No. 2.
[3]. Barros, L.A.B de C. and Silviera, Alexandre DM. 2007. Overconvidence, Managerial Optimism and the Determinant Capital Structure, Social Science Research Network Electronic Paper collection: Http;//ssrn. Com/Abstract.
[4]. Bhagat Sanjai and Bolton Brian, 2010. Manager Characteristics and Capital Structure : Theory and Evidence, Journal of Financial dan Quantitative Analysis.
[5]. Brealy R.A, Myers S.C, Marcus Alan J., 2008. Dasar-Dasar Manajemen Keuangan Perusahaan, Jilit 2, Penerbit Erlangga.
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| Paper Type | : | Research Paper |
| Title | : | The Effect Of Corporate Growth, Capital Structure On profitabilityand Corporate Value |
| Country | : | Indonesia |
| Authors | : | Nurmina || Mahlia || Sobarsyah |
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: | 10.9790/5933-1001041317 |
Abstract: High value of the company will increase investor's confidence in the performance of the company and also on the company's prospects so it is expected that firms that go public can increase the prosperity of the owners or shareholders. The aim of the research was to determine the direct and indirect effect of corporate growth, and capital structure on profitability and corporate value in manufacture companies listed in Indonesia Stock Exchange 2011-2016. The reasearch was done by downloading financial report and the summary of manufacture companies listed in Indonesia.........
Keywords: the Corporate Growth, Capital Structure, Profitability, Companie
[1]. Ahmad Z. (2012). Capital Structure Effect on Firms Performance: Focusing on consumers and Industrials Sectors on Malaysian Firms. International Review of Business Research Paper Vol. 8 No.5: 137-155
[2]. Antwi Dkk.(2012). Capital Structure and Firm Value: Empirical Evidence from Ghana International Journal of Business and Social Science Vol. 3 No. 22 [Special Issue – November 2012
[3]. Cheng Dkk. (2010). Capital Structure and Firm Value in China: A Panel Threshold Regression Analysis. African Journal of Business Management. Vol.4 (12) pp.2500-2507.
[4]. Chowdhury A. & Chowdhury SP. (2010). Impac of Capital Structure on Firms Value : Evidence from Bangladesh. Business and Economic Horizons. Vol 3. Pp 111-122
[5]. GhiN.T. (2015). The Impact of Capital Structure and Financial Performance on Stock Returns of The Firms in HOSE. International Journal of Information and Research and Review. Vol.2, Issue,06 pp 34-737..
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| Paper Type | : | Research Paper |
| Title | : | The Role of The Small Industry of Sendang Batik in Absorbing Workers and Increasing The Income of Lamongan Craftsmen |
| Country | : | Indonesia |
| Authors | : | Nurlaili Rohmatu Sholihah, S.Pd |
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: | 10.9790/5933-1001041823 |
Abstract: The Industry is an effort to improve the quality of human resources and their ability to increase natural resources and other resources optimally. With the existence of industry, an added value can be formed in the economic activities of the people who work in the industry, for example from people who do not have the income to become people who have the income to meet their daily needs. The industry that is developing in Lamongan Indonesia is the SENDANG batik industry. The researchers looked at the role of small batik industries in absorbing workforce.........
Keywords: labor ,income, small industry.
[1]. Arsyad, Lincolin. 2010. Ekonomi Pembangunan. Yogyakarta : UPP STIM YKPN
[2]. Widayati, Sri. 2013. Peranan Batik Tulis dalam Upaya Peningkatan Pendapatan Masyarakat Bakaran. Semarang : Fpips Ikip Veteran Semarang.
[3]. Lestari, Rahayu Puji. 2015. Peranan Industri Batik Tulis terhadap Peningkatan Pendapatan Masyarakat di Kelurahan Karang Kecamatan Semanding Kabupaten Tuban. Jurnal Pendidikan Ekonomi. Vol 3, no 3 (2015)
[4]. Rezekiningsih, Tri Wahyuni. 2004. Mengukur Besarnya Peranan Industri Kecil dalam Perekonomian di Provinsi Jawa Tengah, (online), vol.1, no.2
[5]. Badan Pusat Statistik. 2016. Industri. Jakarta : Badan Pusat Statistik.
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| Paper Type | : | Research Paper |
| Title | : | Analysis of Electricity Consumption and Economic Growth in Nigeria: An Ardl Approach |
| Country | : | Nigeria |
| Authors | : | Sabiu Bariki Sani Ph.D || Sa'ada Abba Abdullahi Ph.D |
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: | 10.9790/5933-1001042430 |
Abstract: This paper examines the relationship between electricity consumption and economic growth in Nigeria using the Autoregressive Distributed Lagged (ARDL) approach. The paper used quarterly time series data for economic growth and some selected variables electricity consumption, electricity supply, electricity loss and inflation rates. The results indicate positive and significant influence of electricity consumption on economic growth in both the short run and long run. However, there is other variables except inflation rates show insignificant contribution to economic growth.........
Keywords: Electricity consumption, Economic growth, ARDL bounds test, Nigeria
[1]. Akomolafe, J., and Danladi, A. K. J. (2014). Electricity Consumption and Economic Growth in Nigeria: A Multivariate Investigation. International Journal of Economics, Finance and Management. Vol. 3, No. 4, pp. 177-182
[2]. Alper A., Nicholas A., Selim Y. (2014). Causality between Energy Consumption and GDP in the U.S: Evidence from Wavelet Analysis. Energy. Vol.8, No. 1, pp. 1-8
[3]. Bildirici, M. E . (2013). The Analysis of relationship between Economic Growth and Electricity Consumption in Africa by ARDL Method" Energy Economics Letters, 2013, Vol. 1, No.1, pp.1-14.
[4]. Fuinhas , J., António, A and Marques. C. (2012). Energy consumption and economic growth nexus in Portugal, Italy, Greece, Spain and Turkey: An ARDL bounds test approach. Energy Economics. Vol. 34, No.5, Pp.11–517
[5]. Iwayemi, A. (2008). Nigeria's Dual Energy Problems: Policy Issues and Challenges, international Association for Energy Economics, Fourth Quarter 2008.
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| Paper Type | : | Research Paper |
| Title | : | Assessment of Oil Palm Fruits Processing Methods in ETCHE Local Government Area of Rivers State, Nigeria |
| Country | : | Nigeria |
| Authors | : | Harry, A.T. || Bakare, O. |
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: | 10.9790/5933-1001044145 |
Abstract: These study assess the oil palm fruits processing methods in Etche Local Government of Rivers State. The objectives of the study was to, described the socio-economic characteristics of the Oil Palm fruits Processors, identify the different methods os oil palm fruits processing ascertain the most effective methods of oil palm fruits processing and identify the constraints to oil palm fruits. The sample size of the study was 120 processors..........
Keywords: Assessment, oil palm fruits, processing method Etche
[1]. Ahmadu, J. (2000) Intermediate Economic (4th Ed) London Macmillan Education Ltd
[2]. Dimelu, M.U Enwelu, I.A. Nwalieji, H.U & Onyenkwo, D. U. (2016) Gender Role in Sustainable Palm Oil Production in Imo State, Nigeria, Journal of Agricultural Extension 20 (2), 249-250.
[3]. Ekine, D.I. & Onu, M.E., (2008), Economics of Small Scale Policy Oil Processing in Ikwerre and Etche Local Government Areas of Rivers State, Nigeria Journal of Agriculture and social Research (JASR) (8) 2-4.
[4]. Ejamba, C. (1989). Effects of Intermediate Technology on Oil Plm Processing Among Rural Women in Anambra State, Ibadan, (Unpublished M.Sc Thesis) Department of Agricultural Extension, University of Ibadan.
[5]. Ogbueri, A.C. (2014) National Leader Etche Bill of Right Etche People Liberation Congress (EPLC).
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| Paper Type | : | Research Paper |
| Title | : | Awareness of World Food Day Programme by Farmers in Ikwerre Local Government Area of Rivers State, Nigeria |
| Country | : | Nigeria |
| Authors | : | Harry, A.T. || Olowu, O |
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: | 10.9790/5933-1001044650 |
Abstract: The study examined the awareness of World Food Day Programme by farmers in Ikwerre Local Government Area (KELGA) of Rivers State, Nigeria. The objective of the study described the socio-economic characteristics of the farmers, determined the level of farmers awareness on World Food day, ascertained the medium of information, determined the benefit derived by farmers from world food day and identified the major constraints to farmers participation in world food day. Multistage sampling procedure was used to select 110 farmers from five clans. Data collected were analysed using descriptive statistics and inferential statistics tools. Findings indicated that majority of the farmers were males (52%), married (76%) and are aware of the programme (66.36%), but did..........
Keywords: Awareness, World Food Day Programme, Ikwere Rivers State.
[1]. Ekong, E.E. (2003), An Introduction to Rural Sociology, Dove Educational Publisher Uyo, Nigeria.
[2]. Food and Agricultural Organization (FAO) (2004): The State of Food Insecurity in the World Food and Agricultural Organization
of the United Nation.
[3]. Igben, M.S. and Ekpere, J.A. (1988), The Nigerian Farmers and Agricultural Institutions: An Assessment Nigerian Institute of
Social and Economic Research (NISER), Ibadan
[4]. Jaxques, D. (2009), World Food Security the Challenges of Climate Changes and Bioenergy.http://orissi.gov.in
[5]. Lester, R. B. (2010), Ten Things to Know About Foods in World Food Day, Retrieved from www.earth-policy.org.org.on 23rd July, 2016..
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| Paper Type | : | Research Paper |
| Title | : | Effects of Macroeconomic Variables on StockMarket Returns in Nigeria (1986-2016) |
| Country | : | Nigeria |
| Authors | : | Temuhale, Julius || Dr. Austin A. Achugbu |
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: | 10.9790/5933-1001045163 |
Abstract: This study examines the effect of macroeconomic variables on stock market returns in Nigeria for the period 1986 to 2016 sourcing data from the Central Bank of Nigeria Statistical Bulletin, and from the International Monetary Fund (IMF) 2016 data. Stock market returns (STR) derived from the Nigerian stock Exchange (NSE) All Share Index (ASI) represent the dependent variable, while Money supply (M2), Inflation (INF), Exchange rate (EXC), Interest rate (INT), and Market capitalization (MC) represent the independent variables. Employing Autoregressive Distributed Lag (ARDL) bound testing and cointegration techniques, the results of the study show that while M2 has a weak negative and statistically significant effect on STR both in the short run, and in the long run, INF, EXC, and INT, each has a positive but statistically insignificant effect. However, MC has a positive and.........
Keywords: Exchange Rate, Inflation, Interest Rate, Market Capitalization, Money Supply, Stock Market Returns.
[1]. Chen, N. F., Roll, R., & Ross, S. (1986). Economic Forces and the Stock Market, Journal of Business Economics, 5(2) :47-72
[2]. Hamao, Y. (1988). An empirical investigation of the arbitrage pricing theory, Japan and the World Economy, 1:45-61
[3]. Poon, S and S.J. Taylor (1991). Macroeconomic factors and the UK stock market, Journal of Businessand Accounting, 18(5) : 619-
636
[4]. Dorutoye, A. (2014). The MINT countries as emerging economic power bloc: Prospect and challenges, Developing countries
studies, 2(15)
[5]. Anyanwu, J. C. (1993). Monetary economics theory, policy and institutions Onitsha Hybrid Publishers Ltd.. 247-274.
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| Paper Type | : | Research Paper |
| Title | : | Structural Vector Autoregressive-Based Estimates of the Sacrifice Ratio for the Nigeria Economy |
| Country | : | Nigeria |
| Authors | : | Ayeni, R. K. (PhD) |
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: | 10.9790/5933-1001046468 |
Abstract: The roots of the economic crisis in Nigeria that led to economic recession especially in2016 is still to some extent open to question. Attribute of such recession are high rate of inflation, unemployment and negative growth rate of the economy and the Federal government has put in place various monetary policies towards disinflation. The objective of this paper is to estimate the sacrifice ratio of Nigeria economy. A high sacrifice ratio means a large loss of gross domestic product (GDP) or employment for a given reduction in inflation. In order to estimate the cost of adjustments in inflation rates by the sacrifice ratio, we apply, firstly, a structural vector autoregressive technique following........
Keywords: Structural VAR,Sacrifice Ratio,Real GDP,Inflation rate. JEL Classification: Z
[1]. Ball, Laurence (1994), What determines the sacrifice ratio?, Mankiw, N.G. (Eds.), Monetary Policy, pp.155-182.
[2]. Bowdler, Christopher (2009), Openness, exchange rate regimes, and the Phillips curve, Journal of International Money and Finance, vol. 28, pp.148-160.
[3]. Cecchetti, S. G. and Rich, R. W. 2001, 'Structural estimates of the U.S. sacrifice ratio',Journal of Business and Economic Statistics, vol. 19, pp. 416–27.
[4]. Daniels, Joseph p. and VanHoose, David D. (2013), exchange rate pass through, openness, and the sacrifice ratio, journal of international money and finance, Vol. 36, pp. 131-150.
[5]. Fuhrer, J. C. and Moore, G. 1995, 'Inflation persistence', Quarterly Journal of Economics,vol. 110, pp. 127–59.
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| Paper Type | : | Research Paper |
| Title | : | SMEs' Contribution to Sustainable Development; an Applied Study Focusing on OECD Countries |
| Country | : | Egypt |
| Authors | : | Dr. Abeer Mohamed Ali Abd Elkhalek |
|
: | 10.9790/5933-10010469780 |
Abstract: The main objective of the study is to empirically evaluate the critical role of SMEs in sustainable economic development as SMEs sector affects GDP growth rate, the structure of production, income distribu-tion and ecological environment. So, the study strives to provide a comprehensive overview of SME sectorsin developed and developing countries with more focus on OECD countries to explore the role of small and me-dium-sized enterprises in enhancing sustainable development of those countries and determine the effectiveness of programs held by their governments to encourage SMEs sector and increase its contribution to sustainable development, as well as presenting successful examples from international practices in order to adopt them to other countries' conditions.
Keywords: Small and Medium Enterprises (SMEs), Sustainable Development, Economic Development, Organi-zation for Economic Co-operation and Development (OECD).
[1]. Alkire, Bruce A. Kirchhoff and Bruce D. Phillips,The effect of firm formation and growth on job creation in the United States, Journal of Business Venturing, 1988, vol. 3, issue 4, 261-272.
[2]. Banerjee S. B. (2003), Who Sustains Whose Development, Sustainable Development and the Reinvention of Nature Organization Studies, 24, 143.
[3]. Bansal P. (2005),Evolving Sustainably: A longitudinal Study of Corporate Sustainable Development, Strategic Management Journal 26(3): 197-218.
[4]. DavidG.W. Birch (1979),The Job Generation Process, MIT Program on Neighborhood and Regional Change, Vol. 4.
[5]. Elaian K (1996), Employment Implications of Small Scale Industries in Developing Countries: Evidence from JordanScience, Technology & Development 14(1)..
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| Paper Type | : | Research Paper |
| Title | : | The Impact of Financing Decisions on Firm Performance |
| Country | : | |
| Authors | : | Ba'aba Sule |
|
: | 10.9790/5933-1001047992 |
Abstract: This research investigates the impact of financing decisions on firm performance. Firm financing decision has been an issue of discussion among researchers for decades. However there is no consensus on the optimal mix of debt to equity ratio in firms capital structure, similarly there is mixed evidence on how capital structure variables influences debt to equity decision of a firm. Most of the existing empirical studies were conducted in the US; however few studies were conducted using UK firms. This study has provided evidence base on UK firms where the sample of the study consist of FTSE 100 and FTSE 250. The data for the study were collected from Thomson Reuters DataStream for the fiscal year 2015. Data were analysed using Eviews software and variables were regressed using ordinary least square. The results reveal that leverage decision of UK.........
Keywords: Capital, Decision, Financing, Leverage.
[1]. Adami, R., Gough, O., Muradoglu, Y.G. & Sivaprasad, S. (2015). How Does a Firm's Capital Structure Affect Stock Performance ? Frontiers in Finance & Economics [online], 12.(1), 1-31 .
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[5]. Barclay, M.J. & Smith, C.W. (1999). THE CAPITAL STRUCTURE PUZZLE: ANOTHER LOOK AT THE EVIDENCE. Journal of Applied Corporate Finance [online], 12(1), 8-20 Available at:<http://dx.doi.org/10.1111/j.1745-6622.1999.tb00655.x>.