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The seventeenth issue of Financial Innovation (FIN), Volume 5, No.4 (2019) presents twelve papers contributed by 36 authors and co-authors from thirteen countries and areas: China, Ghana, India, Kenya, Malaysia, Nigeria, Nepal, North Cyprus, Pakistan, South Sudan, Turkey, Uganda, and USA. The sixth paper, "Assessing the spillover effects of U.S. monetary policy normalization on Nigeria sovereign bond yield", by Kpughur Moses Tule, Osana Jackson Odonye, Udoma Johnson Afangideh, Godday Uwawunkonye Ebuh, Elijah Abasifreke Paul Udoh and Augustine Ujunwa, reveals that domestic factors, such as exchange rate and inflation, rather than the U.S. 10-Year sovereign bond yield, are the key drivers of Nigeria 10-Year bond yield. The twelfth paper, "Impact of Risk Management Strategies on the Credit Risk Faced by Commercial Banks of Balochistan", by Zia Ur Rehman, Noor Muhammad, Bilal Sarwar and Muhammad Asif Raz, identifies risk management strategies undertaken by the commercial banks of Balochistan, Pakistan, to mitigate or eliminate credit risk. [Extracted from the article]

The paper deals with the analysis of the existing legal framework of the status of sea kayaks in the Republic of Croatia, the definition and the position of a kayak as a vessel in the domestic navigation safety system, and its goal is to present the regulation and give a critical review thereof. The types of kayaks are presented with respect to their purpose and construction, the univocity of the term in domestic legislation is questioned, and the solutions of the French model, which individualises these vessels with regard to the mentioned features, will be presented comparatively. The paper also presents kayaking as a sport and economic activity, as well as the necessary education of kayakers for the needs of active and adventure tourism. The paper analyses the international and national legal framework of navigation safety. The results of a survey of legal regulation of sea kayaking in the Republic of Croatia are also presented. The authors conclude that sea kayaking in the Republic of Croatia has not been properly regulated and that the existing legislation needs to be changed. [ABSTRACT FROM AUTHOR]

Copyright of Gharee for Economics & Administration Sciences is the property of Republic of Iraq Ministry of Higher Education & Scientific Research (MOHESR) and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Copyright of Acta Iuris Stetinensis is the property of Wydawnictwo Naukowe Uniwersytetu Szczecinskiego / University of Szczecin Press and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Climate change induced disasters have increased in frequency and intensity threatening economic wellbeing of businesses and communities. Micro, small and medium enterprises (MSME) being integral part of communities makes bulk (90%) of the economic activities around the globe, 96% in Asia and 99% of in Pakistan. In disaster context, survival, recovery and resilience of MSMEs are central to realization of community's survival, recovery and wellbeing. Small businesses are marred by liability of smallness characterized by limited resources, informal structure and unity of its ownership and management. SMEs are mostly dependent on entrepreneur's capabilities and resources for management, survival and growth. Some scholar suggest that in MSME context, among other factors entrepreneur's competencies, psychological and social capitals play a pivotal role in enabling organizational resilience and their disaster performance. Recently few studies have emerged focusing on investigating the impact of various entrepreneurial specific capabilities, resources and mechanisms either on firm resilience or firm performance separately in natural disaster and pandemic context. However, investigating the impact of these on MSME disaster recovery performance in an integrated model seems to be still missing. To address the gap, a study was designed to examine the relationship between entrepreneur's psychological capital, organizational resilience and MSME disaster recovery performance (MSME-DRP). An empirical quantitative study, grounded in multi-theory perspective, the propositions were explored by collecting data through questionnaire survey from 225 valid responses from flood effected District of Nowshera, Pakistan. Findings revealed that PsyCap significantly and positively impact MSME's disaster recovery performance. Results further highlighted significant partial mediation by organizational resilience, while it having significantly positive effect on recovery as direct mechanism as well. The paper contributes to the existing streamof research on organizational resilience and organizational disaster performance in broader strategicmanagement literature. [ABSTRACT FROM AUTHOR]

Theoretical background: Contemporary conditions for managing organizations are particularly difficult due to the variety of changes taking place in the environment, which is why they require the search for behaviors appropriately adapted to existing market conditions. The resources held by companies may not be sufficient in highly competitive markets. At this point, there is a need to look for adaptive behaviors that can be expressed through the imperative of organizational flexibility. The dynamic capabilities of enterprises are reflected in the dimensions of organizational flexibility, which have various conditions related to, among others, company resources. Organizational flexibility results from, among other things, opportunities, abilities, skills and practices that allow us to anticipate future market changes. These capabilities, in turn, depend on organizational resources, including knowledge-based resources that enable organizations to act strategically and tactically. The appropriate level of knowledge-based resources allows you to achieve the appropriate level of flexibility necessary in a difficult and turbulent environment. It is therefore important to present recommendations that will help achieve this state of affairs on the market. Purpose of the article: The purpose of the paper is to identification the level of knowledge-based resources in enterprises and their impact on the organizational flexibility. Research methods: The analysis and conclusions are based on the results of research on a group of Polish enterprises. The study used an original survey questionnaire with a 5-point Likert scale. In order to verify the validity of the research and the constructed research tool, its reliability was tested using the Cronbach’s alpha coefficient. The level of variables was identified using descriptive statistics, while the linear relationship between variables was examined using Kendall’s tau correlation coefficient. Main findings: The research results indicated that the level of knowledge-based resources positively correlates with the level of organizational flexibility of Polish enterprises, and there is a positive, statistically significant relationship between the level of knowledge-based resources and individual dimensions of flexibility, including operational, financial, structural, and technological flexibility. The positive relationship between the variables also indicates the synergy effect, which allows for a higher level of organizational flexibility overall than in individual dimensions of the enterprise. The conclusions from the analysis made it possible to designate recommendations in the area of activities for building organizational flexibility, which is currently a necessary condition for the functioning of enterprises. [ABSTRACT FROM AUTHOR]

In the modern economic system, where the service sector has significantly increased in importance, the accumulation of human capital no longer relies solely on traditional factors such as education, training and healthcare, but increasingly depends on informal education, particularly learning activities during leisure time. Driven by the amalgamation of personality economics and neuroeconomics, a novel theory of human capital has surfaced, which emphasizes the acquisition of cognitive and noncognitive abilities through informal learning activities such as hobbies and social engagements. Utilizing the time allocation theory as a foundation, this study investigates the role of leisure time in bolstering human capital. The paper spotlights the ‘Learning by Doing’ and ‘Learning by Playing’ phenomena, which are instrumental in enhancing practical abilities and creativity. The study offers a critical examination of how human capital theory has evolved, particularly regarding the influence of leisure on skill development. This study also highlights the crucial importance of learning during leisure as a contributing factor to economic growth and positions it as a vital pathway for future human capital accumulation. Moreover, it proposes new avenues of research to deepen the understanding of human capital and leisure economy theories, thereby providing valuable perspectives for the progress of society and the economy. [ABSTRACT FROM AUTHOR]

• The paper estimates the effect of changes in the wage share on the growth rate of the US economy for the period 1947–2019. • We use a time varying parameter model, which allows for continuous changes in the regime over time. This is the first paper that has attempted to do this. • We find that the US economy became more profit-led in the first postwar decades until the 1970s and has become less profit-led since. In the last fifteen years of our sample the effect of changes in distribution on economic activity is statistically insignificant. This paper estimates the distribution-led regime of the US economy for the period 1947–2019. We use a time varying parameter model, which allows for continuous changes in the regime over time. To the best of our knowledge this is the first paper that has attempted to do this. This innovation is important, because there is no reason to expect that the regime of the US economy (or any economy for that matter) will remain constant over time. On the contrary, there are significant reasons that point to changes in the regime. We find that the US economy became more profit-led in the first postwar decades until the 1970s and has become less profit-led since. In the last fifteen years of our sample the effect of changes in distribution on economic activity is statistically insignificant. [ABSTRACT FROM AUTHOR]

• Manufacturing share in India's GDP has increased by about 16 percentage points between 2003 and 2018. • Dominant contribution to increased manufacturing GDP share is made by petroleum refining. • There has been a tremendous increase in the real value-added share of ICT equipment industry. • For assessing properly the performance of manufacturing, double-deflation of GDP is essential. Contrary to a widely held impression that the share of manufacturing in India's GDP has long stagnated, the paper claims that it has increased significantly. Measured at the prices of different goods and services prevailing in 2004-05, and deflation applied separately with input prices as well as output prices to account for differential input price trends, the GDP share of manufacturing has increased during the post-reform period from about 17 per cent in 1993-94 to about 32 per cent in 2018-19. The paper notes that the concept of real share in GDP relates to the volume effect and represents the change in the share of the volume of manufacturing activity out of the volume of all economic activities in the Indian economy. Some explanation is provided for the apparent stagnancy of the share of manufacturing in India's GDP at current prices. [ABSTRACT FROM AUTHOR]

The article provides a comprehensive survey of the sources found in the archival holdings of the Central State Historical Archives of Ukraine in Kyiv, focusing on the history of Vydubychi Monastery, i.e., a prominent spiritual hub from the 19th to early 20th centuries. The author has systematically gathered and examined materials from these archival collections, assessing their informational significance. The findings indicate that the primary sources of information regarding the monastery predominantly originate from documents produced within the monastery during its operational period. Vydubychi Monastery boasts a remarkably extensive collection of archives, surpassing other monasteries in the Kyiv Eparchy. These comprise materials catalogued across three inventories, each representing distinct chronological periods of the contained documents. The author has categorized all documents within the fund into five groups: 1) regulations and directives, 2) personnel records of the brotherhood, 3) papers related to property ownership and benefits, 4) financial and accounting records, 5) materials on the monastery’s charitable and educational activities. The administrative records of the monastery document its land ownership, income and expenses, property changes, construction of religious and economic buildings, as well as the management of charitable and educational initiatives. The article aims to describe the current archival sources related to the monastery’s history and also identify important avenues for potential research into the monastery’s past for future scholars. The primary emphasis is placed on the written sources housed within a distinct fund at the Central State Historical Archives of Ukraine in Kyiv. [ABSTRACT FROM AUTHOR]

Despite the evidence that women in Sub-Saharan Africa become entrepreneurs faster than any other group globally, more studies are needed to understand the motivation(s) for their decision to pursue entrepreneurship. This paper aims to contribute to research on what motivates Sub-Saharan African women to become entrepreneurs. A case study approach was utilized to understand the experiences of 20 women entrepreneurs from Sub-Saharan African countries of the Democratic Republic of the Congo (DR Congo), Ghana, Nigeria, Zambia, and Zimbabwe. All the study participants had tertiary-level education and left their corporate careers to pursue entrepreneurship. Pull and opportunity factors were the main factors that motivated the women interviewed to become entrepreneurs. Push and necessity factors accounted for a few cases. The level of education did not dictate the pull and opportunity factors of motivation. These findings are important because previous studies have stereotyped Sub-Sahara African women entrepreneurs with the generalization that they are motivated to become entrepreneurs by push and necessity factors and are often uneducated and on the fringe of economic activity. The paper makes specific policy recommendations for harnessing motivations and linking them to broader economic development goals. [ABSTRACT FROM AUTHOR]

As a new concept for systematically evaluating ecosystem services, Gross Ecosystem Product (GEP) provides an effective means to comprehensively reveal the overall status of the ecosystem, the impact of economic activities on the ecological environment, and the effectiveness of ecological protection efforts. GEP accounting has been conducted in various regions; however, GEP's application in natural reserves still requires further exploration. Taking the Qinling Mountains as the research area, this paper aims to assess the relationship between GEP and economic development on the basis of the GEP accounting system. The results indicated that: (1) From 2010 to 2020, GEP tended to increase continuously and exhibited a distribution pattern with high value regions in the east and west, and low value regions in the north and south. (2) Over the years, the coupling coordination degree between GEP and GDP was in a consistent upward trend. In 2020, a good coupling coordination state between GEP and GDP was achieved in most districts and counties. (3) With the relative development between GEP and GDP, the social economy of most districts and counties lagged behind GEP in 2010. The number of districts and counties lagging in GEP in 2020 increased, while the number of regions with a balanced development of GEP and GDP was still relatively discouraging. (4) In general, elevation, contagion, temperature, population density, and precipitation were the main drivers of coupling coordination degree between GEP and GDP. If the relationship between economic development and ecological environmental protection can be reasonably balanced, it will further promote the sustainable development of nature reserves, and provide a scientific basis for sustainable policy-making in other similar areas. [ABSTRACT FROM AUTHOR]

This paper employs a quantile vector autoregressive approach to compare the extent of connectedness between macroeconomic uncertainty and U.S. real activity in normal and extreme economic and financial conditions. Based on a database ranging from January 1960 to February 2023 and using the methodology of Jurado et al. (Am Econ Rev 105(3):1177–1216, 2015), we derive, first, eight real and financial uncertainty measures based on 134 macroeconomic indicators. Second, we examine the quantile connectedness among the eight estimated macroeconomic uncertainties and real activity. The results indicate that real activity is strongly (weakly) influenced by the extremely high (low) values of the real and financial uncertainty estimates, indicating asymmetric spillover effects of US macroeconomic uncertainties on real economic activity. Among the real and financial uncertainty estimates, the real output uncertainty blocks are the most important transmitters of shocks to real activity under looser economic and financial conditions. However, under tighter economic and financial conditions, higher output and income and stock market uncertainty blocks are the major spillover transmitters of shocks to real activity. Finally, connectedness between macroeconomic uncertainties and real activity exhibits the highest level during the recent COVID-19 pandemic outbreak at various quantiles. [ABSTRACT FROM AUTHOR]

The Ongoing COVID pandemic has hampered economic activity; Food is a basic need that must be fulfilled and cannot be postponed. During the current pandemic, business people need to pay attention to the situation and conditions, especially the limitation of economic activity in several regions. However, Digital technologies have been extensively studied in academic research and industry. Moreover, little is known about adopting digital technologies in manufacturing firms at a supply chain level. This paper aims to understand why and how manufacturing firms adopt digital technologies and the impact of the adoption on supply chains. This research includes the design of a Web-based Supply Chain Management application to facilitate inventory management, starting from the process of ordering goods from suppliers and procurement of goods to managing goods to customers. Digital technology in the supply chain in the manufacturing area helps companies to store goods management data, raw materials, inventories, deliveries, and daily deposits, and others that are still using manual systems or not yet computerised to maximise performance and also profits for the company, suppliers, including end customers. The study identifies that technological intelligence and supply chain cooperation are critical factors and proposes two-dimensional levels of adopting digital technologies according to their low-to-high degrees. [ABSTRACT FROM AUTHOR]

In this paper we study the usefulness of the water-energy-food nexus in assessing the sustainability of an economy. All economic activity depends on its surrounding physical environment, and especially on the interconnection between these three essential resources. As a result, the nexus is a useful tool for detecting the economic risk of resource scarcity, optimising investments or resource use, and assessing the effects of economic policies or shocks such as climate change. The nexus approach is also useful for guiding policies towards achieving the United Nations Sustainable Development Goals (SDGs). We show that both the objective of each study and the scale on which it is conducted are factors worth considering when choosing the most suitable research methodology. We detected important challenges relating to the heterogeneity of the methods, scales and variables used, and therefore necessary measures nare suggested in order to homogenise the studies for their comparability and/or integration, both horizontally and vertically, or over time. [ABSTRACT FROM AUTHOR]

This paper provides empirical evidence on predictable time variations in out-of-sample bond return predictability. Bond return predictability is associated with periods of high (low) economic activity (uncertainty), which implies that violations of the expectations hypothesis are state dependent and linked to features of the business cycle. These state dependencies in predictability, established by introducing a new multivariate test for equal conditional predictive ability, can be used in real time to improve out-of-sample bond risk premia estimates and investors' economic utility through a novel dynamic forecast combination scheme that uses predicted forecasting performance to identify the best set of methods to include in the combined forecast. Dynamically combined forecasts exhibit strong countercyclical behavior and peak during recessions. This paper was accepted by Lukas Schmid, finance. Funding: This work was supported by the Danish Council of Independent Research [Grants DFF 7024–00020B and DFF 9033–00003B] and the Danish Finance Institute. Supplemental Material: The data files and online appendices are available at https://doi.org/10.1287/mnsc.2023.4713. [ABSTRACT FROM AUTHOR]

This paper examines the role of democracy on poverty and intergenerational inequality in South Africa. The authors used secondary data and published literature to unpack the nexus of the problem, and to further broaden understanding of democracy, intergenerational inequality, and poverty in South Africa. The authors establish that unemployment, lack of property ownership and a poor educational system are the main contributors to poverty and intergenerational inequality in South Africa. However, we found that the government's propoor policies have not adequately addressed the problems. As recommendations, this paper submits that it is essential to increase the redistribution of assets, especially land, to allow land ownership by the poor, which will open many other economic opportunities, such as access to capital. Also, government policies need to be revisited for quality job creation, closing the unemployment gap in the market. [ABSTRACT FROM AUTHOR]

Theoretical background: The impact of the COVID-19 pandemic has had far reaching effects on different strata of socio-economic life, including the financial well-being of residents and the financial situation of local government units. Generally, research papers either approach “local development” conceptually or quantify data regarding a certain locality: demographic structure, residents’ education, condition of the labour market, residents’ income and their technological literacy. This paper is an attempt to arrive at a larger picture and identify the interdependence between economic activity of residents and financial autonomy of the local government, and secondly, to pinpoint the impact the COVID-19 pandemic had on these categories. Purpose of the article: The purpose of the paper is to identify residents’ income sources and the dependence between them and the development potential of the municipality they live in. The paper examines residents’ revenue, income and income tax advance payments. The survey covers all municipalities in Poland according to their formal administrative status: urban, rural, urban-rural and cities with powiat rights. The research covers the period of 2015–2020, as per data availability. Research methods: The paper applied monograph methodology to review the literature on the subject, and comparative methodology to process quantitative data, which allowed the authors to calculate all deviations. Next, the economic phenomena were assessed, i.e. their nature (positive or negative) and frequency of occurrence were determined according to an assessment scale where the base is the starting point. The structure of the number of taxpayers, their revenues and incomes was compared by sources of income, in result of which hierarchy of income sources was created for each municipality. Following that, the main income sources were analysed and correlated with the municipality’s own (tax) revenue. To enable comparability of diagnostic variables, the zero unitarisation method was applied. Main findings: The findings reveal that the main sources of residents’ income include salaries, pensions and disability pensions, non-agricultural economic activity, wages and contractual income. Revenue streams generated from residents’ economic activity show a variance across municipalities. The results obtained confirm the dependence between residents’ economic activity and own revenue sources of local government units. Based on the findings, it can be concluded that the relationship between taxpayers’ income from particular sources and revenue autonomy of municipalities and cities with powiat rights varies by the type of municipality. Thus, the findings clearly demonstrate that residents’ economic activity is an endogenous resource that definitely affects municipal development. For local authorities, understanding economic realities of residents may be a game changer and an insight that will help them create environments conducive to socioeconomic growth. [ABSTRACT FROM AUTHOR]

This paper analyzes the export variable in the Eurozone member countries for 2007-2021. First, we analyze the position of the Eurozone in world trade, and then we examine the importance of its exports in its economic activity. We study the export performance and export specialization of the Eurozone member countries. In addition, we focus on the export competitiveness of the Greek economy. The empirical methodology that we follow for the examination of comparative advantages is based on the index of Revealed Comparative Advantage and is carried out in branches of 2-digit classification based on the Standard Classification of International Trade. In this paper, we focus on comparing export performance and export specialization between countries, which demonstrates the significant differences between them, leading to interesting conclusions in the case of Greece. We also draw useful conclusions about the competitiveness of the products of the Greek economy. Finally, examining this period allows us to explore both the effects of the financial crisis and the debt crisis and the impact of the recent health crisis. [ABSTRACT FROM AUTHOR]

Transfers and retirement of pastors positively and negatively affect their personal, family and congregational spiritual, social and economic lives. In the Zimbabwean context of political and economic volatility, pastoral transitions have been a formidable 'elephant' in most classical Pentecostal denominations for a number of decades. Whenever anybody triggers its discussion, some parishioners hesitantly disengage in fear of provoking and hurting each other. Against her procedural stipulation that pastoral deployments should be reviewed annually, to effect exchange of ministerial gifts and balanced edification of the Church, leaders predominantly transfer junior pastors, while most seniors usually object and only move in circumstances beyond their powers, such as when ill or dead. Consequently, juniors remain gracefully while seniors overstay disgracefully. A lot has been published on leadership successions, but attention on pastoral shifts remain passive in Zimbabwe. Thus, this paper unravels some problems and panaceas of pastoral transfers and retirement. Using qualitative grounded theory and participative observations, it discerned that contradictory theological conceptualizations, unclear constitutional and procedural provisions, policy gaps, economic instability, personal and family disruptions, insecurities and other factors problematize pastoral transitions. Conclusively, concerted efforts should be redoubled to rebuild the governance and economy of the church to mitigate disruptions, sustain, secure and create a conducive environment for smooth pastoral reshufflings. This paper addresses problematic pastoral transitions, interfaces African ecclesiology and leadership with pastoral theology from the Zimbabwean context. [ABSTRACT FROM AUTHOR]

The development of rural space is a basic concern of today's society dominated by the trend of modernization and the need to preserve identity. The current context highlights numerous elements favorable to the development of the rural space, but also elements that inhibit this process. Favorability for the development of the rural area is given by the availability of endogenous resources, and the elements that slow down the development process are generally related to the inability of the local responsibility factors to implement policies, programs and strategies adapted to the territorial specificity that lead to the development of agriculture as a basic activity but and to a diversification of economic activities and implicitly to the development of the rural economy. The paper briefly presents a model of strategic evaluation of the rural space that highlights the territorial specificity and allows the elaboration of sustainable development options adapted to it. From the secondary analysis of the statistical data and the relevant specialized literature and through the application of the PESTEL and SWOT strategic analysis models, sufficient specificity elements were identified that led to the development of relevant strategic options for sustainable rural development in Vâlcea county. [ABSTRACT FROM AUTHOR]

This article examines the experience of addressing the gender issue in countries formed after the collapse of the Soviet Union. Since the national and historical characteristics of all independent states are markedly different, the purpose of the paper is to study the challenges that women had to face, to identify the positive experience of the decision in each case as well as to identify the general trends of such decisions. On the basis of statistical data published by the competent authorities of both the independent states themselves and the Economic Commission for Europe, an analysis was made of such key parameters of equality as employment, average wages, level of access to information, the relative number of representatives in leadership positions in state institutions and representative offices in national parliaments, as well as the general trend of legislative initiatives designed to combat discrimination against women. As a result of the analysis of the dynamics of indicators, the leading states in solving the gender issue were identified, and an assessment was made of the development of this area in the future. This analysis led to the conclusion that the transition of women’s rights issues to the plane of public discourse, the absence of silence concerning the problem, as well as the observance of voting rights are a guarantee of a significant reduction in the level of discrimination in society. The practical significance of the research lies in identifying the leading countries where the gender issue has been resolved positively, as well as formulating recommendations based on their experience for countries where the gender balance is still not respected, which will lead to a general strengthening of the protection of women’s rights. [ABSTRACT FROM AUTHOR]

Copyright of Southern Energy Construction is the property of Southern Energy Construction Editorial Office and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

To ameliorate the efficiency of urban green innovation is the key to realizing green economic transition. This paper constructs a Super-NSBM model with green patents as the intermediate output, uses this model to assess and decompose the green innovation efficiency of 284 Chinese cities, and finally analyzes the spatiotemporal characteristics and influential factors. The research result showed the gap of urban green innovation total efficiency among various regions in China is narrowing, while the spatial differentiation of decomposition efficiency is deepening. This means that a spatial collaborative innovation division pattern of "Eastern Region R&D + Southwest and Northeast Region Transformation" has gradually formed. In the meantime, this paper also found that the spillover effects of the urban green innovation total efficiency and phased efficiency all can form a significant demonstration effect on the surrounding areas. Finally, financial agglomeration, industrial structure, knowledge sharing, economic activity, higher education, opening, and environmental regulations may affect urban green innovation total efficiency and phased efficiency, and this effect has regional heterogeneity. [ABSTRACT FROM AUTHOR]

Copyright of Zeszyty Naukowe Politechniki Poznanskiej. Organizacja & Zarzadzanie is the property of Poznan University of Technology and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

The paper reports empirical findings drawn from a study undertaken to understand the dimensions of strategic leadership deployed among flower farms and the benefits that the flower farms have derived from deployment of strategic leadership. The context was selected due to its significance in contributing to the national economy and the level of turbulence experienced by the farms that requires a leadership style entrenching strategic thinking. 43 flower farms were sampled and primary data obtained using a structured questionnaire from CEOs, Deputy CEOs and heads of functional areas. Two dimensions of strategic leadership have been deployed to a low extent while two have been implemented to a moderate extent. The deployed dimensions of strategic leadership have significantly contributed to the flower farms performance by enhancing their capacity to attain growth at the rate of 15-20%. The study concluded that strategic leadership is relevant for deployment by the flower farms and raised implications for its deployment among organizations facing complex and turbulent environments. The paper called on future research to consider expanding the scope of the context of the investigation and conceptualization of the dimensions of strategic leadership based on other relevant theoretical frameworks anchoring strategic leadership. [ABSTRACT FROM AUTHOR]

The existing output gap measures for the US economy rely on aggregate data and assume a constant output gap over sectors (see Coibion et al. [(2018) Brookings Papers on Economic Activity , 333–441] and Owyang et al. [(2018) Federal Reserve Bank of St. Louis Review , 297–316]); however, each sector has its cycle, which does not necessarily match the business cycle (Burns and Mitchell [(1946) National Bureau of Economic Research]). By modeling sectoral cycles based on their investment cycles with a nonparametric method, I estimate output gaps of 20 US sectors over 1948–2020. The weighted mean output gap indicates a persistent spare capacity in the last business cycle, pointing to insufficient stabilization policies behind secular stagnation. Phillips curve estimations with the weighted quartiles of sectoral output gaps show that the output gap of bottleneck sectors (weighted Q3) is correlated strongly with inflation over 1950–2020. Policymakers can track bottleneck sectors to mitigate inflationary pressures while supporting the sectors with negative output gaps to stabilize the output at its potential. My findings show that it is possible to produce more output by sector-level demand supporting policies without generating inflation. [ABSTRACT FROM AUTHOR]

Potash fertilizer production is one of the most important economic activities. Historically, potash mining has had a significant impact on the environment, often with catastrophic consequences. The purpose of this paper is to summarize the results of studies on the environmental impact of potash mining using the example of the Verkhnekamskoe potash deposit. The deposit is located in the central part of the Solikamsk depression in the Pre-Ural foredeep (Perm Krai, Russia). All the main features and problems of underground mining of water-soluble ores and potassium fertilizer production are considered using the example of one of the world's largest potash deposits. This paper looks into the specifics of the material composition of waste, its disposal, underground mining issues associated with the solubility of salts, and the risks of groundwater inflow into the mine workings, which causes flooding of mines. The results of all surveys show that potash mining affects the atmosphere, surface water, groundwater, soil, and vegetation. The most effective measure to reduce the adverse environmental impact of potash mining at the Verkhnekamskoe Deposit is hydraulic backfilling of mine chambers, which protects the underground mines from flooding, minimizes ground subsidence, and reduces the area of potash waste. [ABSTRACT FROM AUTHOR]

The Dipo rite is a traditional practice that has been deeply rooted in the culture of the people of Yilo and Lower Manya Krobo in the Eastern Region of Ghana for many years. It is a rite of passage that marks the transition of young girls into womanhood, and it is believed to be a crucial part of the social and cultural fabric of the community. This paper provides a comprehensive review of the relevance of the Dipo rite among the people of Yilo and Lower Manya Krobo. The review is based on empirical and conceptual studies that explore the social, cultural, and economic aspects of the rite. The studies reveal that the Dipo rite is an important cultural practice that promotes social cohesion and fosters a sense of community among the people. It is also associated with traditional beliefs and values that are deeply rooted in the community's history and identity. The studies further show that the Dipo rite is an economic activity that generates income for the community, particularly for those who provide services and products associated with the rite. Finally, the paper proposes that the Dipo rite's relevance can be explained through the lens of cultural ecology, which considers the relationships between humans and their environment and how cultural practices are shaped by ecological factors. In conclusion, this paper provides valuable insights into the relevance of the Dipo rite among the people of Yilo and Lower Manya Krobo in the Eastern Region of Ghana and highlights the importance of preserving this cultural practice for future generations. [ABSTRACT FROM AUTHOR]

This paper is intended to study various approaches of legal framework for protection of geographical indications as applied in different countries with the view of ascertaining the strength and weakness of each approach in order to recommended the right approach for Tanzania. The main problem which prompted the study is results from flexibility of the system for protection of geographical indications allowed by the WTO Agreement on Trade Related Aspects of Intellectual Property Rights of 1994 The study was centered on the main objective of examining three approaches of protection of geographical indications which trademark system, sue generis system and the unfair competition system. On part of methodology, the study is qualitative in nature and uses mainly secondary date derived by using documentary review of various international legal instruments, reports, legal text books, articles and conference papers based on protection of geographical indications. Data were analyzed by using content analysis in which the researcher sorted data basing on the relevancy of the content on the study objectives of the study. Generally, the findings has revealed that, apparently states protects geographical indications by using trademark laws, sue generis or specific laws and unfair competition system. However, the more comprehensive and effective approach that Tanzania can adopt is the sue generis system because it provided for specific standards for protection of geographical indications which cannot be mixed with trade mark or competition laws. [ABSTRACT FROM AUTHOR]

Limited research has been conducted on companies' use of share-based payments in a South African context. Where research has been performed, the focus has been predominantly on shared-based payments as part of executive remuneration packages. This paper extends this research by investigating all uses of share-based payments by the Johannesburg Stock Exchange's (JSE) Top 100 companies. A content analysis was used to capture the details of each scheme disclosed by the JSE Top 100 companies. This included at whom the scheme was aimed, the purpose of the scheme, the settlement type, the vesting period and conditions, and whether there had been any modifications or cancellations. Descriptive and inferential statistics were used to analyse the data. Results reflected that 93 of the 100 companies investigated made use of share-based payments. Seventy-four per cent of all instruments were equity-settled. The few cash-settled schemes found were primarily used by the Basic Materials and Financials sectors. The average vesting period for all instruments was approximately 4 years, with Black Economic Empowerment-aimed schemes having the longest vesting period at 10 years. Non-market performance conditions were most prevalent at 87% while only 27% included market conditions. Overall, the findings are in line with Agency Theory and prior papers. In addition, this paper found a significant number of modifications and cancellations of instruments. This may be because of poor economic conditions, where reduced economic activity and lower share prices result in share-based payments becoming unfavourable to holders. [ABSTRACT FROM AUTHOR]

Drawing on the essence of Marxist consumer economy theory, this paper argues that the innovations of digital technology can effectively facilitate the integration of economies of scale, economies of scope, and long-tail economies. Through careful analysis of the practical case of Xiaomi's business ecosystem, this paper highlights the notion that data serve as both a key production factor and a critical consumption carrier within the context of digital consumption. We thoroughly investigated the influence of the digital economy on transforming consumption behavior among residents by analyzing a range of typical business cases and the latest data that triggered this transformation. Based on the analysis, this paper argues that such transformation can lead to the platform agglomeration effect, the inclusive diffusion effect, and the push-pull effect by highlighting the specific ways in which the digital economy disrupts the consumption-production model and contributes to the upgrading and transformation of traditional industries. Additionally, this paper demonstrates how the digital economy can expand and promote emerging business forms, providing insights into the ways in which digital innovation is reshaping the contemporary economic landscape. This study intends to provide several policy suggestions that can expand domestic demand, promote consumption, drive the high-quality and integrated development of China's digital and real economy, and position China as a strong cyber and consumer nation by using digitalized consumption as a starting point. [ABSTRACT FROM AUTHOR]

The emission of air pollutants from energy production and consumption is a major cause of environmental problems. In addition, urbanisation and CO2 emissions have become major environmental concerns that are closely related to climate change and sustainable economic growth. The purpose of this paper is to investigate the long-run relationship among CO2 emissions, energy consumption, economic activities, and management issues for Turkey for the period between 1980 and 2021. The STIRPAT hypothesis and the environmental Kuznets curve (EKC) hypothesis were employed by using dynamic conditional correlation (DCC) and ARDL bound methodologies for these goals. The findings indicate that there is a long-run relationship between variables of the STIRPAT model. The coefficient of economic expansion and energy consumption affected CO2 emissions positively, which means that energy consumption and the expansion of economic activity have significant effects on environmental degradation. Those results are also confirmed by the environmental Kuznets curve (EKC) model. In addition, the N-shaped environmental Kuznets curve (EKC) is developed for Turkey. The DCC model also shows that economic growth increases CO2 emissions significantly, and energy productivity can be considered for decreasing CO2 emissions. [ABSTRACT FROM AUTHOR]

Taking advantage of the implementation of the 2003 European Commission (EC) directive on financial reporting, we explore the impact of mandatory financial disclosure on mergers and acquisitions (M&A). We find robust evidence that the number (and volume) of private firms becoming an M&A target increases with mandatory disclosure. Analyses of cross-industry differences, deal-level data, and post-deal performance indicate that financial disclosure increases M&A activity by reducing information frictions in the market for corporate control. Authors have furnished an Internet Appendix , which is available on the Oxford University Press Web site next to the link to the final published paper online [ABSTRACT FROM AUTHOR]

During the political process, the electorate needs to determine the competence of the government by both observing its policy decisions and acquiring information from the media. However, media reports are often criticized for not being independent and truthful. This paper discusses whether the public can determine the quality of a government from media reports. In other words, are media outlets more likely to act as watchdogs or just as "yes men" to the government? This paper argues that, because of reputational concerns, the media usually avoid criticizing the government. The media only report truthfully when the expected competence of the government is sufficiently low and the probability for the voter to learn from other information sources is sufficiently high. Otherwise, media outlets—especially low-quality outlets—will pander to the government in their reporting. Policy bias or media capture is not required for the yes-man problem to prevail. [ABSTRACT FROM AUTHOR]

Objective: Research into firm-level exporting, has been criticised for being excessively fragmented and inconsistent. The objective of this paper is to review extant research on export performance and propose a research framework which will go beyond the currently studied relationships and variables, and therefore formulate several recommendations for future research. Research Design & Methods: In doing so, the review adopts a broader view of export performance, which accounts for the possibility of a negative development of export ventures. Findings: The paper finds that institution-based, resource-based and industry-based views have been often used to address the determinants of export performance. While there are some complex interactions between hostcountry institutional factors, firm-level factors, and industry-level factors, these have been studied to a lesser extent. Also, the review highlights the need for a more nuanced and fine-grained understanding of export strategy, particularly embracing modern business models and devoting more attention to foreign market partners. Implications & Recommendations: Scholars should be more sensitive to previously neglected variables which can enhance the understanding of export performance and lead to more comprehensive empirical studies. Contribution & Value Added: The paper includes a conceptual framework proposing directions for future research, whereby a broader understanding of export performance is adopted, including also the possibility of export exits. [ABSTRACT FROM AUTHOR]

Economists both failed to predict the global financial crisis and underestimated its consequences for the broader economy. Focusing on the second of these failures, this paper makes two contributions. First, I review research since the crisis on the role of credit factors in the decisions of households, firms, and financial intermediaries and in macroeconomic modeling. This research provides broad support for the view that credit market developments deserve greater attention from macroeconomists, not only for analyzing the economic effects of financial crises but in the study of ordinary business cycles as well. Second, I provide new evidence on the channels by which the recent nancial crisis depressed economic activity in the United States. Although the deterioration of household balance sheets and the associated deleveraging likely exacerbated the initial economic downturn and the slowness of the recovery, I find that the unusual severity of the Great Recession was due primarily to the panic in funding and securitization markets, which disrupted the supply of credit. This finding helps to justify the government's extraordinary efforts to stem the panic in order to avoid greater damage to the real economy. [ABSTRACT FROM AUTHOR]

Crude oil price plays a crucial role in the trajectory of the economic activity. This paper aims at quantifying the impact of the fundamental drivers of crude oil price, over the period 2008--2017 using monthly data. This period, with sharp fluctuations of crude oil prices, has not been examined thoroughly in the literature. We apply regression analysis to examine the crude oil price drivers, concluding that crude oil price follows mostly market fundamentals, such as consumption, OPEC production, shale production and days ahead consumption for OECD stocks. Results unveil the importance of both factors of demand and supply to affect the price. We also find evidence on the considerable impact of S&P crude oil index, as a "paper oil" market indicator. We do not find evidence from indicators measuring political instability, such as the number of terrorists attacks in oil producing countries, but as well the VIX volatility index, which--besides a market instability index--could also be perceived as an index incorporating political instability. The impact of political factors is not evident in our analysis, possibly because we do not consider related dummy variables. Moreover, the paper applies bivariate VAR and GARCH analysis to examine crude oil price volatility, not finding strong volatility transmission with the examined market indices, namely the S&P crude oil and the VIX indices. [ABSTRACT FROM AUTHOR]

Cities enhance the efficiency of green development among themselves through their borrowing population, economic activities density and advanced functions, but the positive green effect of the borrowing size is affected by the city size. Using panel data of 280 prefecture-level cities in China for the period 2009–2019, this paper measures the borrowing size in three dimensions, namely the borrowing population size, borrowing economic activity density and borrowing advanced functions, and uses the super efficiency slacks-based measure (SBM) model, including non-desired outputs, to measure the urban green development efficiency. After that, this paper empirically examines the effect of the borrowing size on the urban green development efficiency in the Chinese urban network using a double-fixed-effect model. A panel threshold regression with city size as the threshold variable is conducted to evaluate the nonlinear relationship quantitatively between the borrowing size and urban green development efficiency. The results show that all three dimensions of the borrowing size have positive effects on the urban green development efficiency. There is a significant double-threshold effect between the borrowing size and urban green development efficiency; under the threshold of the city size, there is a U-shaped relationship between the borrowing population size, borrowing advanced functions and urban green development efficiency, whereas there is an inverted U-shaped relationship between the borrowing economic activity density and urban green development efficiency. Accordingly, this paper argues that government should pay attention to the role of the borrowing size in promoting urban green development efficiency and reasonably expand the city size. [ABSTRACT FROM AUTHOR]

The CoVID-19 pandemic had a continuing impact on the agricultural sector, especially cash crops. This is despite the popular belief that agriculture was the only bright spot in the entire economic system which was somehow able to withstand the economic impact of lockdowns. This paper is an attempt in understanding the impact of CoVID-19 pandemic on the cash crops in Kerala and how it impacted the growers as well. This paper is a study of the impact on the cash crop economy. It also tries to suggest some specific policy intervention to revive and support the sector. This includes a package exclusively for the farm sector with immediate and long-term implications. [ABSTRACT FROM AUTHOR]

The worst contemporary refugee crisis that occurred during the summer of 2015 challenged the basic values of the European Union. There had never been a time when the need for a consistent approach, both from the individual Member States and the EU as a whole, was more urgent. The Union's response during 2015's refugee crisis was unreliable, fragmented, and it largely affected the Western Balkan countries that are now aspiring to become EU Member States. This paper analyses how the EU's response to the refugee crisis has affected and still affects the countries in the Western Balkans, which are all in different stages of their European integration. The refugee crisis created many challenges for the Western Balkan countries which are all weak democracies and which have unstable institutions. This paper also analyses the numerous domestic costs connected to these countries when faced with the refugee crisis. Finally, the paper argues that, although largely harmonised with the EU acquis, the legislative and institutional frameworks for migration management in Western Balkan countries need further adjustment. [ABSTRACT FROM AUTHOR]

With the reshuffle of the global industrial structure, some industrial parks in China are facing problems such as unclear industrial positioning, unclear agglomeration effect, and lack of impetus for independent innovation. It is urgent to seek a way of transformation and upgrading. The arrival of the era of big data also provides new opportunities for the transformation of China's industrial parks. In this context, the model of "character towns" proposed by Zhejiang Province provides a new concept for breaking the bottleneck of industrial park transformation and also provides a platform and space for the application of data technology and digital governance in the era of big data. Based on the theory of creative destruction and self-organization, this paper holds that the essence of industrial park transformation under the concept of character towns is the self-organization process of creative destruction and high-quality reconstruction. After sorting out the development process of parks in China, this paper divides industrial parks into production-oriented parks, consumption-oriented parks, and trade-oriented parks according to the economic activities classified by classical economics. By constructing a six-stage creative destruction model, this paper analyzes the path selection of transformation and upgrading of three types of parks under the concept of character towns and proposes that industrial structure replacement for the production-oriented parks, upgrading the consumption structure for the consumption-oriented parks, and change of trade control points for the trade-oriented parks are the possible transformation paths for the three types of parks. [ABSTRACT FROM AUTHOR]

In order to capture the consequences of the COVID-19 pandemic on the labour market, several aspects need to be taken into account. First, containment measures put in place in member states at different times and with different levels of severity determined the interruption of several economic activities that were considered non-essential. Second, different occupations require varying degrees of physical proximity and social interaction to be carried out; this implies that they can be considered more or less teleworkable, and affected by different levels of epidemiological risk of contagion. This paper shows the labour market impact of the pandemic on different categories of workers in the EU. Occupations are distinguished by three main characteristics: whether they are critical or non-critical, their level of technical teleworkability and the level of social interaction required in the job. We show that the impact of the COVID-19 pandemic on the labour market has been heterogeneous across occupations and that all three dimensions are relevant to determine whether and to what extent the occupations were affected by the pandemic. [ABSTRACT FROM AUTHOR]

Purpose: The purpose of this paper is to expand the theoretical understanding of social inclusion of vulnerable populations. Employing cross disciplinary literature from marketing and social policy, this paper examines the factors shaping internal migrant workers experience of inclusion and vulnerability in the context of COVID-19 pandemic. Design/methodology/approach: The authors conducted a review of social inclusion and consumer vulnerability literature to develop a new and innovative conceptual framework which operationalises social inclusion. This framework was then examined using an illustrative case study of internal migrant worker crisis in India. Data for the case were collected from various national and international media, government and non-government reports published in English on the pandemic related migrant crisis in India. Findings: Access and control over food was fraught with barriers for migrant workers. As the lockdown progressed, access to and control over work opportunities was precarious. Furthermore, the resource-control constraints faced by migrant workers in terms of food, work and transport had a direct impact on their experience of social inclusion. Lastly, the stranded migrant workers found themselves unable to fully participate in economic activities. Originality/value: To the authors' knowledge this is the first paper that integrates consumer vulnerability concept, originating in marketing scholarship into the social inclusion framework. This allowed for anchoring the "aspirational goals" of social inclusion into the concrete context of consumers and marketplaces. [ABSTRACT FROM AUTHOR]

As an archipelagic country with a population of about 200 million (BPS 2000), Indonesia is also referred to as the Continent of Maritime Nusantara; it has cultural diversity that spreads from Sabang to Merauke. One of the cultural assets of the Nusantara is the local, regional language (BD). BD in this Nusantara has now experienced challenges and threats to its existence. The challenges exist in the form of neglect of respect, maintenance, and preservation of BD. The point is that this paper wants to examine the condition of regional languages in Indonesia. These factors can cause their extinction, the implications of the extinction of these languages from an ethnolinguistic perspective, and in the end, want to provide a review of solutions to overcome these problems. This study is intended to provide input for various interested parties, especially speakers of regional languages, to pay more attention to the life and sustainability of their regional languages. The research that forms the basis for this scientific article begins with a literature study with observation. Based on the discussion above, it can be concluded as follows. First, the issue of BD extinction in Indonesia based on available data is quite worrying. The conclusions that emerge in this paper are the formulations of strategies, tactics, and models related to the preservation of regional languages (BD). [ABSTRACT FROM AUTHOR]

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Despite its immense natural resources, Angola struggles to significantly improve its economy to reduce poverty. Carbon emissions have been increasing over the years, even though the country plans to reduce them by 35% by 2030. This paper attempts to assess the carbon emissions of several sectors (industries, transport, services, and residences) on economic growth, intending to find a balance between environmental protection that requires carbon emissions reduction and economic development that may add to environmental degradation. The study employed time series data on GDP, CO2, CH4, and N2O covering 1971 to 2021 and ARDL and ECM models. This is the first study at the state level in Angola on the relationship between economic development and environmental sustainability considering methane and nitrous oxide emissions. Additionally, the paper assesses the responses of GDP to deviation shock of GDP, CO2, CH4, and N2O by 2032. Phillip Perron and Augmented Dickey-Fuller tests showed that all the data are stationary at the first difference, favoring the application of the ARDL model to explore the short and long-run relationships. The result reveals that methane from agricultural activities and carbon emissions from the building sector and public services contribute to economic growth, whereas carbon emissions from industrial heat systems, non-renewable electricity production, and manufacturing industries harm economic growth. However, no relationship exists between nitrous oxide emissions and economic development. In addition, impulse response function estimates show that appropriate investments can sustain economic development over the years. Therefore, the country should diversify its economy and avoid polluting fuel sources, such as coal. Raising renewable energy's proportion in the total energy mix can support growth while considering the environmental quality. Investments in skills training, academic projects in renewable energy technologies development, agriculture mechanization, and sustainable job creation are recommended. Additionally, investing in quality seeds adapted to climate realities might help lessen climate change's adverse effects and promote growth. Manure manufacturing processes must be improved to reduce agriculture and livestock's methane and nitrous oxide emissions. The country's leaders are encouraged to promote raw material processing industries while insisting on reducing carbon emissions. [ABSTRACT FROM AUTHOR]

Our paper critically analyses the well-known and old partnership between religious actors and social policy agencies undertaking interventions in the public sphere aimed at influencing redistributive measures (social welfare, distributive justice) and development. Starting from a typology of religious welfare and classic welfare regime the paper underlines the necessity of rising up further the "social mission of religion" in a globalized world increasingly exposed to social, economic and political turbulence, as a link between state and community. [ABSTRACT FROM AUTHOR]

This paper derives a European Herfindahl–Hirschman concentration index from 15 micro-aggregated country datasets. In the last decade, European concentration rose due to a reallocation of economic activity toward large and concentrated industries. Over the same period, productivity gains from an increasing allocative efficiency of the European market accounted for 50% of European productivity growth while markups stayed constant. Using country-industry variation, we show that changes in concentration are positively associated with changes in productivity and allocative efficiency. This holds across most sectors and countries and supports the notion that rising concentration in Europe reflects a more efficient market environment rather than weak competition and rising market power. [ABSTRACT FROM AUTHOR]