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COVID-19 Vaccination and Stock Markets Performance: Empirical Evidence from African Countries
Jamiu Olamilekan Badmus,
Ibraheem Monday Ojelade
Issue:
Volume 11, Issue 5, October 2022
Pages:
264-275
Received:
17 August 2022
Accepted:
31 August 2022
Published:
8 September 2022
DOI:
10.11648/j.ijber.20221105.11
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Abstract: The unprecedented shock posed by the current pandemic on the global economy has resulted in continuous efforts by the governments, health practitioners, and policymakers to abate it, which led to the implementation of several policy responses including the COVID-19 vaccination to curb the spread, severity, and recorded cases of the pandemic. Thus, this study evaluates the impact of COVID-19 vaccination on stock markets performance of selected African countries. The analysis of the study utilizes two variants of COVID-19 vaccination indicator, namely a dummy variable and a vaccine index. The regression model shows that the COVID-19 vaccination using a dummy variable, significantly improves the returns of stock markets in Botswana, Cote D’Ivoire, and Zambia. However, the vaccine index reveals significant positive impact of vaccination on the stock market returns in Kenya, Uganda, and Zambia. In addition, the wavelet coherence analysis is utilized to examine the relationship between the variables over time and frequency domain spectrum. The result shows that the COVID-19 vaccination proxy with vaccine index significantly granger causes the stock market of the selected countries except Tunisia. The findings of the study have policy implications on portfolio management and diversification as well as government policy responses to the global pandemic.
Abstract: The unprecedented shock posed by the current pandemic on the global economy has resulted in continuous efforts by the governments, health practitioners, and policymakers to abate it, which led to the implementation of several policy responses including the COVID-19 vaccination to curb the spread, severity, and recorded cases of the pandemic. Thus, ...
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Introducing a Model for How Knowledge-Driven Agile Innovation Can Drive Digital Transformation in Firms
Lipika Bhattacharya,
Clarence Goh,
Gary Pan
Issue:
Volume 11, Issue 5, October 2022
Pages:
276-286
Received:
29 July 2022
Accepted:
28 September 2022
Published:
17 October 2022
DOI:
10.11648/j.ijber.20221105.12
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Abstract: Digital transformation often arises from the distribution of tasks among interdisciplinary teams of experts. One important factor that determines the success of digital transformation relates to an organization’s ability to innovate in an agile manner. In this article, we identify key drivers of digital transformation, which include organizational agility, knowledge management and innovation. Another crucial aspect of knowledge management relates to the coordination of knowledge. It is important for organizations to focus on knowledge coordination because the lack of coordination can dissuade them from meeting the demands for flexibility and speed during digital transformation, thereby negating the potential benefits from adopting an agile innovation methodology. To examine these issues, we introduce a model to establish how agile knowledge management practices can foster innovation in an organization’s digital transformation. Our model also highlights how knowledge coordination can create an environment that fosters organizational agility. To facilitate knowledge-driven agile innovation, we further highlight several people management practices that can play a role in fostering knowledge sharing behaviors during digital transformation. In addition, our article illustrates how agile innovation can play a key role in the knowledge management aspect of an organization’s digital transformation using case studies, including that of General & Marine Agents Pte Ltd, an insurance broker headquartered in Singapore.
Abstract: Digital transformation often arises from the distribution of tasks among interdisciplinary teams of experts. One important factor that determines the success of digital transformation relates to an organization’s ability to innovate in an agile manner. In this article, we identify key drivers of digital transformation, which include organizational ...
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Development of Small and Medium Scale Enterprises (SMEs) in Africa Through Crowdfunding
Onyeka-Iheme Chimeruo Victory,
Akintoye Ishola Rufus
Issue:
Volume 11, Issue 5, October 2022
Pages:
287-294
Received:
4 October 2022
Accepted:
20 October 2022
Published:
27 October 2022
DOI:
10.11648/j.ijber.20221105.13
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Abstract: The importance of SMEs having good access to cost-effective finances appears to be undeniably obvious for the development of SMEs in Africa, especially with the adverse effect of the aftermath of Corona Virus (COVID-19) pandemic. This paper was therefore necessitated by the need to evaluate the development of SMEs in Africa through crowdfunding. Employing theories and empirics, this paper researched the various sides of the discussion on SMEs’ development through crowdfunding in Africa. The study had a relatively robust review of literature on the concepts, prospects, and challenges of crowdfunding in Africa. Descriptive and survey research designs were employed and data analysis was carried out using SPSS 20. A descriptive analysis of the statistical outcome was carried out on the various demographical information of respondents presenting them with the use of both easy and diagrams. Analysis of the T-test was used to also ascertain the influence of crowdfunding on the development of SMEs in Africa. Cronbach’s alpha reliability test served as a tool to measure the instrument’s reliability. Findings from this research revealed that lack of awareness of crowdfunding as an instrument of raising funds and the ease of access to crowdfunding platforms by SMEs in Africa form the major challenges for SMEs in Africa and these have a significant effect on their development. Recommendations proffered were that adequate regulations and policies that will create an enabling environment for investors or crowdfunders should be enacted.
Abstract: The importance of SMEs having good access to cost-effective finances appears to be undeniably obvious for the development of SMEs in Africa, especially with the adverse effect of the aftermath of Corona Virus (COVID-19) pandemic. This paper was therefore necessitated by the need to evaluate the development of SMEs in Africa through crowdfunding. Em...
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The Role of Value Added Tax (VAT) on Economic Growth of Ethiopia
Issue:
Volume 11, Issue 5, October 2022
Pages:
295-303
Received:
7 September 2022
Accepted:
14 October 2022
Published:
31 October 2022
DOI:
10.11648/j.ijber.20221105.14
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Abstract: The achievement of economic growth is crucial for countries sustainable development. Recently, Value Added Tax (VAT) becomes a major worldwide tax instrument which enhances economic growth. Thus, this paper analyses the role of VAT on economic growth of Ethiopia from 1990 to 2021 based on theoretical and empirical evidences. The main objective of this study is to analyze role of tax in Ethiopia from (1990 to 2021). The method of analysis was econometrics analysis. This paper used Autoregressive Distributed Lag (ARDL) and Error Correction Model (ECM) in order to investigate the long-run and short run relationship between the dependent variable and its determinants. To test stationary Augmented Dickey –Fuller (ADF) test and Phillpes Perron (PP) test were used. The error correction coefficient, estimated at -0.75452 is highly significant, has the correct negative sign, and imply a very high speed of adjustment to equilibrium. R-squared is 0.6568: This implies that 65.68% of the real gross domestic product function is explained by the selected explanatory variables. In other words, 65.68% of variation of the dependent variable is due to the variation of the independent variables which included in the model and the remaining variation 34.32% is explained by the variables which are not included the model. To meet this objective, time series macro-economic data on GDP, VAT, and tax revenue excluding VAT, non-tax revenue, population, human capital and gross capital formation were used. This data is collected from National Bank of Ethiopia, Central Statistical Agency, World Development Indicator (WDI), the Global Economy, World Data Bank, National Bank of Ethiopia websites, Ethiopian Revenue and Customs Authority. The finding of the study reveals that strong and positive impact of VAT revenue on the economic growth (GDP) of Ethiopia during the periods under review. i.e. One per cent increase in the growth of net VAT revenue causes 20.35% increase in the growth of nominal GDP. However, to be effective, it requires strong administrations and cooperation’s of the tax payers with taxing authority and the government in general.
Abstract: The achievement of economic growth is crucial for countries sustainable development. Recently, Value Added Tax (VAT) becomes a major worldwide tax instrument which enhances economic growth. Thus, this paper analyses the role of VAT on economic growth of Ethiopia from 1990 to 2021 based on theoretical and empirical evidences. The main objective of t...
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