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This paper investigates the impact of board characteristics (such as board size, board independence, CEO Duality, board meetings, and committee) on corporate sustainability reporting (CSR) in China. Unlike previous studies, we examine this relationship in light of the three pillars of corporate sustainability reporting: economic, environmental, and social. Using both the Fully Modified Ordinary Least Square (FMOLS) and Dynamics Ordinary Least Square (DOLS) empirical models, our data, which comprises 9842 firm-year observations from both the Shanghai and Shenzhen stock exchanges covering the 2006–2019 fiscal periods, reveals that board independence, a larger board size, and a board sustainability committee promote CSR in the three CSR pillars. However, the study shows that CEO duality is more likely to impede CSR. While the current study seems to provide some understanding regarding the relationship between board characteristics and corporate sustainability reporting to corporate boards, regulators, and practitioners interested in advancing the course of CSR, some significant knowledge gaps still need to be explored in future studies. Future research may consider other board characteristics as well as explore other CSR indices like integrated reporting and triple-bottom-line approaches.

The global energy transformation is moving forward slowly, along with the continent of Africa. Although the momentum developed thus far is encouraging, there is an increasing need for transformative solutions to lessen climate change and its effects on the continent. In this article, we analyze the connection between green growth, entrepreneurship, and their effects on sustainable development in South Africa using the Quintuple Helix Innovation Model (QHIM). Hence, the purpose of the study is to foster the need for entrepreneurship and green growth for sustainable development. The quintuple helix model’s (QHIM) theoretical premise that the natural environment of society and the economy are the two fundamental factors behind innovation and the understanding that a knowledge economy requires sustainable growth are mainly supported by our findings. We accomplish this study by determining which entrepreneurial and green growth dimensions should be prioritized, respectively. Using ordinary least squares (OLS) and generalized linear model (GLM) we examine the association. We measured green growth with two main indicators which are environmental resource productivity and natural capital. Entrepreneurship was measured using entrepreneurial activity and entrepreneurial attitudes. Our findings revealed that more attention needs to be geared towards natural capital and entrepreneurial activity in South Africa. Decision-makers and the government will utilize the study’s findings as a guide for the zealous implementation of stated policies; recommendations are also highlighted in this study.

Carbon neutrality is a 21st-century priority area, with the Middle East and North Africa (MENA) countries making significant investments in renewable energy and climate mitigation initiatives to attain it. However, carbon neutrality research in the MENA region is under-developed, particularly when considering the roles of renewable energy, economic growth, and effectiveness of government. To address this gap, this research investigates the roles of renewable energy, economic growth, and government effectiveness toward the MENA region’s carbon neutrality goal. We implemented heterogeneous and second-generation panel data techniques that are resilient to cross-sectional dependency and slope heterogeneity to panel data spanning 16 MENA countries from 1996 to 2018. We discovered that MENA data are cross-sectionally dependent, heterogeneous, and cointegrated. We found that government effectiveness and renewable energy bring carbon neutrality closer, but economic growth initially delays it. We detected Environmental Kuznets Curve (EKC) in the MENA region, specifically in the High-Income Countries. Although there were signs of EKC in the Middle-Income Countries, this was not significantly validated. Finally, we found a one-way causal link from government effectiveness and renewable energy to carbon neutrality but a feedback mechanism between economic growth and carbon neutrality in the MENA region. As a result of these findings, it is recommended that the MENA region’s policymakers prioritize renewable energies and improve the effectiveness of government to drive economic growth toward the carbon neutrality goal.

Environmental expenditures (EX) are made by the government and industries which are either long-term or short-term investments. The principal target of EX is to eliminate environmental hazards, promote sustainable natural resources, and improve environmental quality (EQ). Thus, this study looks at the impact of economic growth (EG), and government finance expenditure (GEX) on EQ in Northern Africa and Southern Africa (NASA) republics from 2000–2016. The panel quantile regression (PQR) and panel vector autoregressive (PVAR) model in a generalized method of moment framework (GMM) were employed as a framework. The PQR results show that; (i) In Northern republics, GEX had a significant positive effect on EQ at 25%, 50%, and 75% quantiles levels. (ii) In the Southern republics, GEX had a significant negative impact on EQ at 25%. Moreover, the PVAR through the GMM established that EG and GEX are significantly positive while the parameter for CO2 is insignificant and negative in the North. However, in the South, GEX and CO2 were statistically significant, while EG positively impacts EQ. Lastly, the granger causality report in North indicates uni-directional causation running from LNGEX → LNGDPpc, LNCO2 → LNGDPpc, LNFF → LNGEX, and LNFDI → LNGEX. Similarly, there is uni-directional causation in South republics from LNGEX → LNGDPpc, LNCO2 → LNGEX, and LNFDI → LNGEX.

Environmental management accounting (EMA) practices guide a firm’s response to perceived environmental uncertainty (EU) and various institutional pressures (IP). Drawing upon institutional theory, this study explores the relative effects of institutional pressures and environmental uncertainty on the implementation of EMA, an environmental strategy (ES), and the resulting environmental performance (EP) of firms under the influence of top-management support (TMS) and perceived benefits (PB). Based on data collected from 243 firms operating in Suzhou, one of the busiest business hubs in China, this research used the structural equation modeling (SEM) technique. Findings reveal that environmental uncertainty exerts a stronger influence on the adoption of EMA practices than institutional pressures; however, the choice of a firm’s environmental strategy is more influenced by institutional pressures. Likewise, the serial-mediation effect of environmental strategy and EMA practices is observed to be the strongest in the case of coercive pressures, with some notable moderation effect for perceived benefits and top-management support. The study concludes with theoretical and managerial implications.

The purpose of this study was to examine the nexus amid economic growth, energy consumption and carbon emissions in G20 countries for the period 1992 to 2014. In order to obtain valid and reliable outcomes, more robust econometric techniques were employed. From the results, the studied panel was heterogeneous and cross-sectionally dependent. Also, the series of observed variables were first-differenced stationary and co-integrated. The key findings from the CCEMG and the AMG regression estimators adopted showed that economic growth and energy consumption promoted the emission of carbon in the countries. In addition, urbanization and foreign direct investments as control variables escalated the rate of the countries’ CO2 emissions. From the discoveries of the Dumitrescu and Hurlin panel causality test, a feedback causality between economic growth and CO2 emissions; energy consumption and CO2 emissions; and between urbanization and CO2 emissions were correspondingly unveiled. Howerver, a one-way caual link was evidenced from foreign direct investments to CO2 emissions. This exploration is vital because it will propel the countries to formulate policies that could help them to minimize their dependence on environmentally unfriendly energy sources, while promoting the usage of clean energies like solar, wind, biogas, biomass and hydropower among others. The study is also pertinent because it will aid the countries to plan, organize and implement environmental policies in compliance to their macroeconomic objectives. When this is accomplished, energy conservation policies implemented to minimize the emanation of CO2 will improve the countries’ economic growth.

South Asian Association for Regional Cooperation (SAARC) countries like other developing countries are the major destination for foreign investors. At the same time, these countries are facing different climate change challenges. This study aims to inspect the economic determinants of carbon emissions (CE) and dynamic causal interaction of CE with foreign direct investment (FDI), economic growth (EG), and other economic factors using panel cointegration test, dynamic ordinary least squares (DOLS) and vector error correction model (VECM) for the SAARC countries. To make the homogenous analysis, we examined the association among variables for the individual country and as a group for the period 1990 to 2016. The panel results of this study confirmed the presence of the unidirectional causal association of EG with CE. The panel results of other economic factors confirmed the causality of urban population (UP) and energy consumption (EC) with CE. Moreover, the panel results of domestic capital (DS) and inflation rate (INF) confirmed the causal association with EG. Finally, the panel results of DS revealed a causality with FDI. Based on the above results, some policy guidelines are proposed.

The aim of this research was to establish the nexus between liquidity and the viability of quoted non-financial establishments in Ghana. Panel data deduced from the published annual reports of 15 entities for the period 2008 to 2017 was employed for the study. Preliminarily, cross-sectional reliance, unit root, serial correlation, heteroscedasticity, co-integration, and causality tests were respectively performed. Our findings established that there exists no cross-sectional reliance, and input variables are stationary and co-integrated with no presence of heteroscedasticity and serial correlation. Estimates from the random effects generalized least squares (GLS) regression showed that liquidity has significant adverse effect on the firms’ Return on Equity (ROE) but had insignificantly positive effect on ROE when surrogated by the cash flow ratio. Finally, test based on causalities uncovered that, with the exception of Current Ratio and ROE that are flanked by bidirectional liaison, no other causal affiliation was evidenced amid other variables. Policy recommendations are further discussed.

The availability of sufficient and trustworthy energy services at the reasonable cost in a securely and environmentally friendly manner, and conventionality with economic and social development requirements, is an important factor of sustainable development (SD). Energy plays a significant role in eliminating poverty and increasing living standards. However, most of the present energy forms of energy supply and consumption are unsustainable. This paper analyzes the association between economic growth (EG), energy consumption (EC), and sustainable development (SD) among other economic factors. The sample of 14 developed and developing member states of the Union for the Mediterranean (UFM) was selected. To deal with the endogeneity issue, the system- generalized method of moment (GMM) model was employed. Moreover, panel co-integration, Granger causality tests, and robustness tests were employed to examine the long-run and short-run causality among variables of interest. The results confirmed the short-run dynamic association from sustainable development (SD) to energy consumption (EC), and economic growth (EG) to sustainable development (SD). Moreover, the results validated the presence of long-run equilibrium association in the equations of EC and sustainable development (SD). The findings of this study will be supportive for the policymakers to formulate sustainable energy policies to stimulate the economic growth (EG) in the way of sustainable development (SD) in the UFM countries.

Because of rapid economic expansion, China, the USA, and India have become the largest energy producers and sources of CO2 emissions in the world. They burned over 45% of global fuels in 2016. Meanwhile, the developing strategies of 24 polluted states to decrease fossil energy consumption without additional economic output. This paper explores the effect of world top polluted countries’ CO2 emission, their GDP and production of electricity by potential indicators and identifies the basic factors that contribute to changes in an environment where petroleum, natural gas, coal, nuclear, biomass, and other renewable energy and hydroelectric sources are examined with GDP per capita. We estimate our data for the period from 1968 to 2017 and use the GLM model. The results show that more production of electricity is causing abnormal CO2 emissions. The Granger causality test shows that there is a unidirectional relationship between energy consumption and economic advancement. Also, there is a short-run bidirectional causality that exists among the energy indicators. We find a unilateral causality between energy consumption and economic growth. Therefore, the consumption of energy might be conductive of 24 (polluted) countries and better economic development; the consumption of energy may be failsafe and guaranteed, while we should limit the resources of countries.

The variability of the possession of the needed human capital and the ability of actors to transfer knowledge in institutional networks is of major concern in modern times for competitiveness and institutional performance. The study assessed the role of individual actors and banks in human capital development. The study adopted network analysis and Ordinary Least Square regression (OLS) to ascertain the magnitude and direction of the effect of the explanatory variables and dependent variables. The study measured the efficiency of the human capital network and assessed the key attributes of the network to efficiency. From the results, the study established that the network was 59.8% efficient in human capital development. The study, however, revealed that there was an inverse relationship between efficiency and density. The variables in regards to the model specified to indicate that each variable has a statistically significant impact on the dependent variable for each bank however Closeness to the Ideal (CI) showed a stronger significance comparatively. The following recommendations are made in light of the findings and conclusion; Banks should engage in networking activities to enhance their human capital, however, greater attention should be paid to the egonet where efficiency in human capital development will increase relatively better; that human resource managers in their employment take into consideration the fitness role of the employee within the ego net in terms of their centrality roles in human capital development. However, in the situation of cost-effectiveness, the closeness to ideal optimization centrality should be adopted. Finally, a constant and renewable source of information through activities of research and development, professional networking participation, both on the job and off the job training activities should be factored in policies of institutions to enhance human capital development at organizational levels

The study investigated the effect of cost management on the financial performance of manufacturing firms in Zimbabwe. The specific objectives include examining the cost of inventories, the cost of labour, and the cost of sales on performance. The study will be relevant for investors, management board and regulatory bodies. The study employed a descriptive research design. The study employed panel data covering four (4) years 2014-2018 which was gathered from the financial statement of a selected manufacturing firm. The study employed the pooled regression analysis for its data analysis. The study revealed that cost of inventories has insignificant positive effect on return on equity, which depicts that cost on inventories have a positive influence of the going concern of the organization in terms of profit, but it should not be given the utmost importance has the only cost relevant components in the organization that can enhance performance. The cost of labour will increase performance but could be detrimental if the money spent on labour is taking a larger percentage of the overall profit component of the organization

Purpose: In this study, we contribute to the existing literature by examining the relationship between military spending changes and economic growth in China over the period 1995 to 2018 using Granger causality test. We would also explore short and long run relationship between GDP growth and military expenditure of China. Approach/Methodology/Design: Data used in this study are yearly data covering the period of 1995 to 2018 and the variables are Gross Domestic product (GDP) and Military Expenditure (ME). Data were collected from World Bank. GDP is at 2010 constant US prices and ME is expressed as a percentage of economic growth. All variables are transformed into the natural logarithmics to obtain growth effects. Findings: Using causality test, the causal relationship between the variables revealed that the alternative hypothesis should be accepted which is lagged GDP variable (proxy of economic growth) does not cause ME in our first VAR Granger causslity Wald test model. However, we discover and verified that there is one-way causality from economic growth to military spending, but no causality from military spending to economic growth is observed in this study. China’s positive economic growth can finance its military expenditure. Practical Implications: The study will contribute positively to the understanding of influence of GDP on military expenditure for emerging and developed ecconomies. Originality/value: This study innovates by using Cointegration, E-granger and Granger causality test to find out economic growth causing military expenditure in developing economies like China., peer-reviewed

The study’s objective is to assess the impact of employees’ satisfaction on firms’ performance in Burundi with a focus on the Agro-food SMEs. The study sampled 369 respondents for its data and used SPSS ordinary least square method to analyze its data. In conclusion, the study found a positive and statistically significant impact of employees’ satisfaction on firms’ performance and the satisfaction of employees stems from their level of education and number of years in employment. However, employers should prioritize the plights of their employees to ensure higher productivity. Perhaps, employees play crucial role in the success of every organization. &nbsp

This study explored the interactions between liquidity and the financial performance of quoted non financial firms in Ghana. The study was correlational as it sought to examine the relationship between liquidity and the firms' viability. From the Pearson Product Moment Correlation Coefficient technique of data analysis, liquidity had a significant relationship with the firms' financial performance as measured by ROA, but insignificant relationship with the firms' financial performance as measured by ROE and ROCE. Based on the findings, the study recommended among others that, the firms can improve their final bottom line by proficiently handling their liquid resources. Yusheng Kong | Mohammed Musah | Andrew Osei Agyemang "Liquidity and Financial Performance: A Correlational Analysis of Quoted Non-Financial Firms in Ghana" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-3 | Issue-5 , August 2019, URL: https://www.ijtsrd.com/papers/ijtsrd25248.pdf

This study sought to explore the trade off between liquidity and the profitability of non financial firms listed on the Ghana Stock Exchange GSE . A panel data extracted from the audited and published annual reports of fifteen 15 selected firms for the period 2008 to 2017 was used for the study. In the study, liquidity was surrogated by the Cash Flow Ratio CFR and the Cash Ratio CaR , whilst profitability was proxied by Return on Capital Employed ROCE . After undertaken some diagnostic and specification tests to address the basic assumptions of the Classical Linear Regression Model CLRM , the study uncovered that, cash flow ratio had a significantly positive effect on the firms' profitability as measured by ROCE ß=0.1050416, p=0.038 0.05 , but the cash ratio had an insignificantly negative influence on the firms' profitability as measured by ROCE ß= 0.0805403, p=0.306 0.05 . It was further discovered that, the cash flow ratio and the cash ratio had a combined significant effect on the firms' profitability as measured by ROCE Wald chi2 1 =7.43, p=0.0244 0.05 . In order to ensure continuous survival and success, the firms should not play with the issue of liquidity management. The entities are expected to maintain an optimal liquidity level that will be capable of performing the 'twin' role of meeting their financial obligations and at the same time maximizing their shareholders' wealth. This optimal liquidity level could be obtained if the establishments are to meet the standards set by the Ghana Stock Exchange GSE . Adhering to these standards will help the firms to reduce the cases of financial distress. In other words, the firms should keep an adequate level of liquidity that will not portend their going concern status, and yet allow them to make ample returns on their investments. Thus, the firms should strike a balance trade off between their liquidity and profitability. Also, surplus liquidity and inadequate liquidity are two financial ailments that can simply wear down the firms' profitability. Therefore, the establishments must embrace liquidity management in their attempt to optimize profitability. This could be attained if the firms lessen the amounts they hold in cash and focus more on investments so that, they could gain higher returns rather than tying them down in idle cash. From the perspective of theory, the outcome of this study is in tandem with that of prior studies by bringing to light the effect of liquidity on firms' financial performance as measured by ROCE. The firms should therefore inculcate into their decisions the findings of this study so as to meet their operational and expansion needs, as well as the desires of their shareholders. Yusheng Kong | Mohammed Musah | Stephen Kwadwo Antwi "Liquidity-Profitability Trade-Off: A Panel Study of Listed Non-Financial Firms in Ghana" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-3 | Issue-4 , June 2019, URL: https://www.ijtsrd.com/papers/ijtsrd25068.pdf

This study analyzes the core energy consumption among countries specific variables by Environmental Kuznets Curve hypothesis (EKC), for a panel data of 29 (14 developed and 15 developing) countries during the period of 1977-2014. By assessing Generalized Method of Moments (GMM) regressions with first generation test such as common root, individual Augmented Dickey-Fuller (ADF), and individual root-Fisher-PP have been computed individually, the results confirm the EKC hypothesis in the case of emissions of solid, liquid, gases, manufacturing industries and also construction. Hence, we computed the cointegration test by Pedroni Kao from Engle-Granger based and Fisher. Onward, since the variable are co-integrated, a panel vector error correction model is estimated in GDP per capita, emission from manufacturing industries, arms import, commercial service export and coal rent, order to perform Pairwise Granger Causality test and indicate Vector Error Correction (VEC), with co-integration restrictions. Moreover, the statistical finding from VEC short-run unidirectional causality from GDP per capita growth to manufacturing industries and coat rent, as well as the causal link with manufacturing industries and commercial service export. Additionally, since there occurred no causal link among economic growth, arm import and coal rent.

sing a sample of 150 family-owned companies in the two major cities in Ghana, this study aims to examine the relationship between family-owned companies and performance taking into account good corporate governance principles such as Board Size, Board Independence and Gender Diversity. The results provide evidence that board characteristics are positively associated with the performance of family-owned companies in Ghana. However, some of the companies did not follow the recommended corporate governance practices, hence, had lower performance. It is therefore recommended that family-owned companies must put into practice good corporate governance principles to enhance performance

the main aim of this paper is to investigate the extent of the intellectual capital disclosure and the relationship between intellectual capital disclosure and corporate governance variables in Ghanaian listed firms. We tested the following independent variables comprising the various forms of corporate governance structure: board composition, dual role, size of the audit committee and frequency of audit committee meetings. A sample of 50 firms listed on the Ghana Stock Exchange was selected. The descriptive statistics, content analysis, and a linear regression model were performed to analyze the data. Out of the four (4) variables tested, only the frequency of audit committee meetings has a significant positive relationship in influencing the level of intellectual capital disclosure in Ghana. The result also found 74.67 percent of the selected companies disclosed intellectual capital in their annual reports. However, the extent of the intellectual capital disclosure among Ghanaian firms is still relatively low (about 4.45 percent). This result also revealed that most of the Ghanaian firms are aware of the intellectual capital disclosure, but however, they are not aware on how to measure, report and disclose this information in their annual report

In Ghana, like in other developing countries, microfinance has been acknowledged as a pro-poor development intervention because of its special program models in meeting the special needs of the poor. The Ghanaian informal economic landscape is replete with Micro Finance Institutions (MFIs), which are assumed to have varied orientations and outcomes for their clients. MFIs have long provided microfinance products and services with the expectation of improving the socio-economic and political well-being of the Ghanaian poor. This study explores the role of non-financial institutions in capital mobilization for economic development via poverty reduction. In addition, the study examines the challenges faced by both the MFIs and the beneficiaries in granting and accessing credit. Specific objectives were developed to facilitate the achievement of the study. Qualitative and quantitative methodologies were used to collect primary data from about 100 respondents recruited from the MFIs. The study found that MFIs services serve a perfect platform for petty traders, artisans and SMEs to accumulate capital and raise enough funds to boost their businesses. This is done through daily savings of any amount by the client. The study found out the various savings instruments used by MFIs to attract customers, the various services they provide to the public, their largest categories of borrowers, their clientele base and measures they put in place to reduce their credit interest rate risk. The study came out with recommendations to improve the services and operations of MFIs and also how the beneficiaries can also benefit and utilize the services of MFIs and what government can also do in protecting the citizenry