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Impact of Technology Incubation Programme in Promoting Entrepreneurship in Nigeria
Ahmad Abubakar-Sadeeq,
Abubakar Usman Othman,
Abdullahi Salihu Audu,
Mohammed Isa Ramalan,
Ibrahim Abdullahi
Issue:
Volume 10, Issue 4, December 2021
Pages:
105-111
Received:
18 August 2021
Accepted:
7 September 2021
Published:
12 October 2021
Abstract: Technology incubators are economic development tools used for promoting the concept of growth through innovation and application of technology, support economic development strategies for small business development. It encourage growth from within local economies, while also providing a mechanism for technology transfer. Incubation is the provision of temporary support to start-up enterprises through the delivery of complex services and special environment with the aim of improving their chances of survival in the early phase of the life span and establishing their later intensive growth. Many Incubation Centres were established to influence and promote entrepreneurship thereby adding to economy of a country. However, the established incubation centres need to be evaluated to measure the effectiveness of the incubation programme in promoting entrepreneurship. In this research, we investigate the added value of Technology Incubation to the growth and development of Entrepreneurship, measuring the role of Technology Incubator thereby, finding out the effectiveness of Technology Incubation Centres in the development of Entrepreneurship in Nigeria. We use questionnaires as a tool for data collection. The result from the respondents of the questionnaires shows that Technology Incubation Centre contribute to the development and growth of entrepreneurs in Nigeria. Most of the entrepreneurs make use of the service of the Technology Incubation Centre. The incubation centres also carried out various program and initiative toward the development of entrepreneurs and also involving them with socio-economic development programs.
Abstract: Technology incubators are economic development tools used for promoting the concept of growth through innovation and application of technology, support economic development strategies for small business development. It encourage growth from within local economies, while also providing a mechanism for technology transfer. Incubation is the provision...
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Firm Capital Structure and Financial Sector Performance in Nigeria
Issue:
Volume 10, Issue 4, December 2021
Pages:
112-124
Received:
9 October 2021
Accepted:
9 November 2021
Published:
25 November 2021
Abstract: This study employed the two-step systems GMM and fixed-effect model to examine the relative importance and explanatory power of six (6) variables in considering the capital structure of 36 non-financial companies listed on the Nigeria Stock Exchange from 2008-2019. The study also examined the effect of the rule of law, institutional quality, macroeconomic management, financial sector performance, and accountability and corruption on firm capital structure. The findings of the study affirm' the theoretical underpinnings of the pecking order theory in Nigeria. The study finds that profitability and Liquidity ratios are negatively associated with debt ratios among non-financial firms in Nigeria. Firm size and tangibility of firm assets positively affect the debt ratio of these firms. The study also concludes that the rule of law, macroeconomic management, financial sector performance, accountability, and corruption indeed matter in determining firm financing mix in Nigeria. Indeed, the rule of law, financial sector rating, accountability, and corruption forms the fundamental basis for the enforcement of contracts, registration, and protection rights. The study provides evidence to the effect that these variables are critical for both equity and debt financing. This study adds to the existing literature as all the determinants used in the study are statistically significant in determining the capital structure of non-financial firms in Nigeria.
Abstract: This study employed the two-step systems GMM and fixed-effect model to examine the relative importance and explanatory power of six (6) variables in considering the capital structure of 36 non-financial companies listed on the Nigeria Stock Exchange from 2008-2019. The study also examined the effect of the rule of law, institutional quality, macroe...
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Analysis and Development of Price Models in the System MEANS of Intersectoral Balance
Issue:
Volume 10, Issue 4, December 2021
Pages:
125-138
Received:
24 October 2021
Accepted:
18 November 2021
Published:
27 November 2021
Abstract: At present, monetary models of equilibrium prices have received a very wide and varied application. In this paper it is proved that the application of the currently existing monetary models of the intersectoral balance is associated with significant methodical errors. It is shown that price models based on the input balance provides such a balance only in unreal cases when the prices of all sectors are the same. For realistic conditions, when these requirements are not met, errors for these models reach unacceptable values. This article proposes and thoroughly investigated new price models based on output balances which do not have the said drawbacks. It is mathematically proven that the new models satisfy the output balances and do not have methodical errors. When used, they provide zero output imbalances for both theoretical and realistic data packets. Also in the paper the calculation results are presented both for the existing monetary models of input-output balance and for new price models using a wide set of initial data. The calculations performed confirm the theoretical conclusions of the article. It is also proved that the Leontief price model is a special case of the generalized model of price indices proposed in the work.
Abstract: At present, monetary models of equilibrium prices have received a very wide and varied application. In this paper it is proved that the application of the currently existing monetary models of the intersectoral balance is associated with significant methodical errors. It is shown that price models based on the input balance provides such a balance ...
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Labour Productivity and Structural Transformation: A Tale of 3 African Economies
Issue:
Volume 10, Issue 4, December 2021
Pages:
139-151
Received:
6 September 2021
Accepted:
19 October 2021
Published:
27 November 2021
Abstract: Structural transformation is hypothesized by growth accounting to be at the core of the process of economic development and a crucial source of labour productivity growth. Despite the key importance of structural transformation in driving economic performance, investigations on the impacts of structural change on labour productivity growth in Sub-Saharan Africa region has been minimal if not absent from the literature. This paper caters for this literature gap by examining the extent to which structural change explain the dynamics of labor productivity growth in three African countries. Using data from Benin, Mauritius and Tanzania the study adopts a mixture of approaches: trend analysis, regression analysis and the shift-share analysis to achieve its objective. The main findings indicate that first in both Benin and Tanzania workers’ productivity are far higher in non-agricultural sectors and hence a reallocation of labour from the agriculture sector would boost overall productivity in these two economies. Second, countries which ‘leap frog’ from the agriculture to the services sector, bypassing the industry sector, tend to experience weak if not negative dynamic effects of a reallocation of workers from agriculture to services. Third, countries which have undergone advanced structural transformation, like Mauritius need to revamp their sectors or look for new emerging sectors if they are to further exploit the contribution of structural change to labour productivity growth.
Abstract: Structural transformation is hypothesized by growth accounting to be at the core of the process of economic development and a crucial source of labour productivity growth. Despite the key importance of structural transformation in driving economic performance, investigations on the impacts of structural change on labour productivity growth in Sub-S...
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Adaptation of the Principles of Classical Dynamics to Microeconomic
Levin Boris Arkadievich,
Levin Arkadij Isaakovich
Issue:
Volume 10, Issue 4, December 2021
Pages:
152-163
Received:
17 August 2021
Accepted:
11 September 2021
Published:
2 December 2021
Abstract: The principles of classical dynamics are applied to economic processes. The author successfully overcame the main difficulty of the basic requirement for dynamics: a description of any process should be made in real (four-dimensional) «space-time». The economic meaning for all four coordinate axes is stated that allows to introduce the concept of force interaction. Besides, J. Hicks understood more than anyone that in the analysis of microeconomic models four dimensional space (including time axis) should be considered. Unfortunately, having denoted two axes as commodities and one as a time axis he found two axes to be interdependent that allowed him to turn to two-axes coordinate system. Such a conversion is only possible if initial space is heterogeneous. In reality, however, if price is a vector quantity it should act as a vector in any spatial dimension. As for the time axis is concerned it is definitely defined by scalar property. The nature of phenomena and substance we experience in our sensations is like this. Doubtfully, that market relations which had begun in human society from the time immemorial, are not specified by these properties. The consequence of homogeneity' of the space is that we are able to analyze free motion of the point-denoting commodity in the presence of force interaction in three-dimensional space. Free motion of the point-denoting commodity means the lack of any kind of forces that limit its trajectory in any direction. The motion of the point is defined as explicitly stated periodical fluctuations of each elementary axis parameter depending on time. That is why in our reasoning we proceeded from the fact that economic space is homogeneous. Later, using the principles of special theory of relativity we shall be able to set relationship between different coordinate systems of homogeneous space in economics modeling. The only purpose of this article is to find out the third previously unknown axis in economics. The technique used to find its meaning is following. Consider the nature of interaction linked with general utility of commodity' or with total costs using time axis of commodity' quantity in three-coordinate system. Then taking into account the nature of force interaction the projection of force interaction or rather projection of a resultant of a system of force interactions should be found. The later projections on to previously unknown axis three dimensional space will clarify its economic meaning.
Abstract: The principles of classical dynamics are applied to economic processes. The author successfully overcame the main difficulty of the basic requirement for dynamics: a description of any process should be made in real (four-dimensional) «space-time». The economic meaning for all four coordinate axes is stated that allows to introduce the concept of f...
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Cost Efficiency of the Banking Industry in Malawi
Happy Phiri,
Ben Kaluwa,
Jacob Mazalale
Issue:
Volume 10, Issue 4, December 2021
Pages:
164-174
Received:
2 December 2021
Accepted:
22 December 2021
Published:
29 December 2021
Abstract: Sustainable economic growth requires efficiency in the banking sector because of the vital role financial markets play in allocating resources. This study seeks to contribute to the discourse on banks' cost-efficiency performance in the context of market upheavals, evolving customer preferences, and industry and institutional reforms. The study examines the Malawi banking sector's cost-efficiency based on firm-level data from 2010 to 2019. The period coincided with significant developments in the sector namely: 1) the massive local currency (Malawi Kwacha) devaluation which impacted exchange rates against major trading currencies; 2) the adoption of International Financial Reporting Standard (IFRS) 9 that impacted credit risk measurement; 3) the adoption of Basel 2 framework that impacted the calculation of capital adequacy and; 4) mergers and acquisitions of banking institutions. Using single-stage translog Stochastic Frontier Analysis (SFA) applied to a cost function involving nine banks, the study finds that Malawi banks are on average, 8.5% cost-inefficient. Over the sample period, the results further indicate an upward trajectory for the sector’s mean cost efficiency levels. Across the banks, varied cost efficiency scores affirm the underpinnings of managerial and behavioural theories of the firm in supplementing the neoclassical microeconomic view of efficiency performance of the banking firm. Cost-efficiency scores have been positively influenced by the macroeconomic environment (inflation) and elements of bank heterogeneity (asset concentration and bank size). The contributions of other elements, namely, market concentration and funding risk (liquidity risk) have been negative, suggesting these as policy intervention areas for cost efficiency in the sector.
Abstract: Sustainable economic growth requires efficiency in the banking sector because of the vital role financial markets play in allocating resources. This study seeks to contribute to the discourse on banks' cost-efficiency performance in the context of market upheavals, evolving customer preferences, and industry and institutional reforms. The study exa...
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The Entrepreneurial University and Its Influence on the Business Ecosystem
Oumaima ElBouzidi,
Si Mohamed Ben Massou
Issue:
Volume 10, Issue 4, December 2021
Pages:
175-184
Received:
9 December 2021
Accepted:
24 December 2021
Published:
29 December 2021
Abstract: Like the ideological evolutions that have long marked the history of scientific research, it goes without saying that the university, the center of all academic progress, does not fail to illustrate, in its turn, a scope in the missions it seeks to fulfill. Faced with this reality, the concept of university entrepreneurship has been expanded to include student entrepreneurship, now developed in the embryonic phase within Cadi Ayyad University. The purpose of this research was to discover the involvement of Cadi Ayyad University in supporting and promoting the entrepreneurship of its students as well as its correspondence with the characteristics of an entrepreneurial university. Through this research, we presented a literature review centered on the concepts of entrepreneurial university and responsible innovation. We sought to explore within the framework of an exclusive qualitative study the detailed portrait of the entrepreneurial approach through innovation specific to the context of the University Cadi Ayyad in Morocco, then to apprehend the willingness to participate in the entrepreneurial ground among students. The results of this research include the introduction to responsible innovation among young researchers, the perception of the concepts «entrepreneurship» and «innovation» in constant coalition, and the empirical participation of the interviewees' entrepreneurship projects in the regional ecosystem. This study of entrepreneurship and responsible innovation revealed that few respondents have this in mind. In addition, this research aimed at a first apprehension of the model of entrepreneurial university and responsible innovation in a context little studied in this regard.
Abstract: Like the ideological evolutions that have long marked the history of scientific research, it goes without saying that the university, the center of all academic progress, does not fail to illustrate, in its turn, a scope in the missions it seeks to fulfill. Faced with this reality, the concept of university entrepreneurship has been expanded to inc...
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