Open Access Original Research Article

Government Policies, Internationalization and ICT Usage towards SME’s Growth: An Empirical Review of Ghana

Bismark Ameyaw, Socrates Kwadwo Modzi

Journal of Economics, Management and Trade, Page 1-11
DOI: 10.9734/BJEMT/2016/23552

Small and Medium-size Enterprises (SMEs) are the powerhouses of the economic development of many countries. This paper probes the dynamics on how Government Policies, Internationalization and Information and Communication Technologies (ICTs) usage of SMEs stimulate the growth and development of the Ghanaian economy. SMEs have been branded as the pillar of industrial development hence playing a vital role in the Ghanaian economy. However, few studies have investigated the growth and challenges SMEs encounter. This paper reviews existing literature as well as the empirical studies in order to identify the major determinants that stimulates SMES growth as well as the challenges most SME owners face. SMEs face many challenges in achieving economies of scale along with global competition. The challenges acknowledged in this research is a positive first step towards formulating a workable framework for SMEs to overcome. This research was primarily carried out in the Kumasi Metropolitan Assembly. Respondents for this research were small and medium businesses in operation from 2005 to 2015. The research was conducted using questionnaires. A total of 144 questionnaires were submitted to respondents in the Kumasi Metropolitan Assembly. Data was analyzed using SPSS version 21. Multiple regression analysis was employed in this study and the findings of this research indicated that policy adoption and the utilization of ICT has a significant impact on SME’s growth. However, most SME owners perceive internationalization as a significant but not a necessity towards their growth. The paper concludes by proposing some policy recommendations in assisting SMES to attain the much needed stimulated growth and development.

 

Open Access Original Research Article

Dynamic Relations between Macroeconomic Variables and Stock Prices

A. O. Ajayi, O. J. Olaniyan

Journal of Economics, Management and Trade, Page 1-12
DOI: 10.9734/BJEMT/2016/22524

This study has examined the dynamic relationship between certain macroeconomic variables and stock prices in the UK and South Africa. Using the Johansen co-integration technique based on vector error correction model (VECM), the study finds one co-integrating vector for the UK data suggesting that macroeconomic variables have long run effect on stock prices, with the stock prices being positively related to industrial production but negatively related to both long term and inflation rates. The inflation rate was found to respond the most to shocks for the UK. The UK inflation rate can serve as a signal for the condition and state of the economy. No long run relationship was however found for the South Africa. The Granger causality test shows changes in industrial production in South Africa are better explained by both its past values and past stock market performance.

 

Open Access Original Research Article

Prospects for Information Economy in Ukraine Using Grid-computations Based on Nbic-technologies

Igor Matyushenko

Journal of Economics, Management and Trade, Page 1-18
DOI: 10.9734/BJEMT/2016/24151

Aims: In the conditions of advanced countries industrial markets’ competition escalation the issue of creating new economy on the basis of global technologies is becoming more and more important. New global technologies have appeared due to convergence of Nano-bio-info and cogno(NBIC)-technologies. Large scale shaping of information economy in the conditions of information volume explosion occurs in the majority of world countries and involves the majority of industrial branches together with social life. That process requires Grid-computations for inter-disciplinary research to provide for modern NBIC-civilization emergence.

The main aim of the research is to analyze the modern prospects of creating Grid-technologies for information economics in the World and in Ukraine basing on NBIC-technologies.

Study Design: The reviews were carried out in the period 2009–14 on the basis of studying the world countries Grid-technologies development trends as well as on the basis of the research results obtained by Ukrainian academic institutions.

Place and Duration of Study: Scientific research center for industrial development problems of the National academy of sciences of Ukraine, Department of Foreign Economic Relations and Touristic Business of V.N. Karazin Kharkiv National University between September 2015 and December 2015.

Methodology: Content analysis has been used as the main method of research, which allowed making a meaningful analysis of classic papers and researches of modern economists-practitioners devoted to the peculiarities of the modern prospects of creating Grid-technologies for information economics in the World and Ukraine with using of NBIC-technologies.

Results: The article demonstrates that in the result of implementing comprehensive scientific-technical programs to develop Grid-technologies during 2009–2014 in Ukraine will create a multi-national grid network elements that will allow to take into account sectoral and regional interests and ensure its integration into European and global Grid-infrastructure. The article analyses the modern prospects of creating Grid-computations based on NBIC-technologies for information economics in the World and Ukraine.

Conclusion: We can conclude that in order to establish an information economy in Ukraine during 2009-2014 should make efforts to develop and implement Grid-technology in the calculations for interdisciplinary research and the formation of modern NBIC-society.

 

Open Access Original Research Article

Determinants of Liquidity of Rural and Community Banks in Ghana

Eric Kofi Boadi, Yao Li, Victor Curtis Lartey

Journal of Economics, Management and Trade, Page 1-15
DOI: 10.9734/BJEMT/2016/24121

This study analyses the determinants of Rural and Community Banks (RCBs) liquidity performance in Ghana using the CAMEL regulatory measures and macroeconomic variables with RCBs’ market jurisdiction as a moderating variable. 114 rural and community bank-specific panel data from 2005 – 2013 and the panel least square fixed effect method estimation were used for the research. The result suggests that capital adequacy, asset quality, management efficiency and gross domestic product have significant positive relationship and effect on liquidity. It finds evidence to establish that profitability and management efficiency studied within a period reveal contradictory outcomes on banks’ liquidity performance. It also supports studies on performance of banks which show that macroeconomic variables on their performance have mixed outcomes. Further, it indicates that, whenever an investment is not done carefully it has a negative effect on RCBs’ liquidity performance. Also, market jurisdiction of rural and community banks has a significant effect on their liquidity performance.

 

Open Access Original Research Article

Halal Foods Awarness and Future Challenges

Imran Aslan, Hakiye Aslan

Journal of Economics, Management and Trade, Page 1-20
DOI: 10.9734/BJEMT/2016/23861

Halal food concept was simply defined few years ago by Muslim scholars with banning some foods. However, pesticide products and Genetically Modified Foods (GMO) bring new discussions among Muslim countries and Non-Muslim countries. Some countries responsible from halal certificating approach this concept differently. In this study, approaches to halal around the World and in Turkey are explained with some studies done before and getting the opinions of experts worked in halal field. In the World, there is not a common halal standard and each country tries to develop its halal standards. These standards change from country to country even all certificates are referenced to Holy Koran. Turkey is one of the main food exporters to Iraq Kurdistan. Thus, to learn the awareness of people living in Erbil city, 500 surveys were applied at Shaqlawe Technical Institute and Technical Administrate Institutes in Iraq Kurdistan. Descriptive statistics, ANOVA and correlations methods are used to analyze data. It is found that there is not enough awareness in Arbil city even though it is a Muslim city in majority. New production methods and additives to foods are challenges both religiously and scientifically. Moreover, GMO and other pesticisized foods- medicated foods have not been clearly stated whether they are halal or not in Many Muslim countries.

 

Open Access Original Research Article

Do International Financial Reporting Standards Influence Malaysian and Nigerian Banks Earnings Management Goals?

Onalo Ugbede, Mohd Lizam, Ahmad Kaseri

Journal of Economics, Management and Trade, Page 1-12
DOI: 10.9734/BJEMT/2016/20575

International Financial Reporting Standards (IFRS) was made compulsory for European firms beginning from 1 January, 2005. This has attracted several studies on the impact of IFRS adoption on European manufacturing/sales-based firms’ earnings management and its goals. However, Malaysia and Nigeria mandatorily adopted IFRS effective from 1 January, 2012. Thus, this study is one of the limited studies that have investigated the impact of the recent Malaysia and Nigeria adoption of IFRS on earnings management goals of Malaysian and Nigerian banks. This study used the whole Malaysian and Nigerian banks and data were collected for a period of 6 (2008-2013) years. Logit regression analyses were performed to investigate both earnings management goals of reporting small positive profits and the speed by which losses are recognized. For Malaysian banks both results are in agreement with expectations. First findings suggest that under MFRS, banks tend to manage their profits figures less frequently in order to report small positive profit rather than negative amounts as opposed to the Malaysia GAAP. Also, results demonstrate that under MFRS banks tend to recognize large losses readily than under FRS. However, for Nigerian banks, results establish that under SAS banks tend to manage their profits figures less frequently in order to report small positive profit rather than negative amounts, as opposed to the IFRS. Yet, under IFRS, banks tend to recognize large losses readily than under SAS. Except for Nigerian banks’ earnings management goals of reporting small positive profits result, overall, findings confirm the superiority of IFRS over Malaysia and Nigeria GAAPs in reducing earnings management. Given this results, this study recommends that IFRS should be globally adopted by banks.

 

Open Access Review Article

Firm Level Competitive Advantage in the Agricultural Sector: A Research Agenda

Vilani Sachitra, Siong- Choy Chong

Journal of Economics, Management and Trade, Page 1-12
DOI: 10.9734/BJEMT/2016/24152

Improvements in technology and information systems as well as changes in climate and economies have resulted in an increasingly competitive environment for the agribusiness sector. A better understanding of firm level competitiveness of this sector hence provides the necessary framework for agribusiness firms to compete at domestic and global markets. Although prior studies have proposed many frameworks to illustrate competitive advantage at the firm level, their practicability remains a concern. This study provides a critical review of the available frameworks and constructs a new one for the agricultural sector. A research model along with its theoretical and managerial implications is presented. Besides proposing a methodology for future studies, this study also serves to guide practitioners to decide on the key factors to consider when assessing the competitive advantage of agribusiness firms.