Olusegun Felix Ayadi and Johnnie Williams
This study aims to explore the possibility that securities markets in selected African countries of Egypt, Kenya, Nigeria and South Africa play a significant role in capital…
Abstract
Purpose
This study aims to explore the possibility that securities markets in selected African countries of Egypt, Kenya, Nigeria and South Africa play a significant role in capital accumulation using panel data analysis. This is done by exploring the relationship between gross fixed capital formation on the one hand and financial market development indicators on the other hand. Thus, the study aims to examine if stock market size and liquidity are determinants of capital accumulation.
Design/methodology/approach
The analysis is based on annual times series from 1991 through 2017 spanning four African stock markets. The analysis utilizes the fixed-effect and random-effect econometric models. The Durbin–Wu–Hausman test is used to choose between the two models.
Findings
The key results indicate that stock market capitalization is a positive determinant of gross fixed capital formation. The market value traded and turnover have no relationship with capital formation. Therefore, the role of stock African stock markets in promoting capital accumulation and, subsequently, industrial growth in Africa is seriously questioned.
Originality/value
Only a handful of studies have examined the role of the African securities market in promoting capital accumulation. This study is unique in which it focuses on the leading stock markets in the four corners of Africa. The markets are from Egypt in the north, South Africa from the south, Nigeria from the west and Kenya from the east. These four markets account for a significant segment of all African markets.
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Selena Aureli, Eleonora Foschi and Angelo Paletta
This study investigates the implementation of a sustainable circular business model from an accounting perspective. Its goal is to understand if and how decision- makers use…
Abstract
Purpose
This study investigates the implementation of a sustainable circular business model from an accounting perspective. Its goal is to understand if and how decision- makers use management accounting systems, and what changes are needed if these systems are to support the transition toward a circular economy.
Design/methodology/approach
Dialogic accounting theory frames the case study of six companies that built a value network to develop and implement an innovative packaging solution consistent with circular economy principles. Content analysis was utilised to investigate the accounting tools used.
Findings
The findings indicate that circular solutions generate new organisational configurations based on value networks. Interestingly, managers’ decision-making process largely bypassed the accounting function; they relied on informal accounting and life cycle analysis, which stimulated a multi-stakeholder dialogue in a life cycle perspective.
Research limitations/implications
The research provides theoretical and practical insights into the capability of management accounting systems to support companies seeking circular solutions.
Practical implications
The authors offer implications for accounting practice, chief financial officers (CFOs) and accounting educators, suggesting that a dialogic approach may support value retention of resources, materials and products, as required by the circular economy.
Social implications
The research contributes to the debate about the role of accounting in sustainability, specifically the need for connecting for resource efficiency at the corporate level with the rationalisation of resource use within planetary boundaries.
Originality/value
The study contributes to the limited research into the role of management accounting in a company’s transition to circular business models. Dialogic accounting theory frames exploration of how accounting may evolve to help businesses become accountable to all stakeholders, including the environment.
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Jani Pestana, Franca Beccaria and Enrico Petrilli
The purpose of this paper is to investigate motives and modalities of psychedelic substance use in the psychonaut community that is hosted on the Reddit platform (r/psychonaut)…
Abstract
Purpose
The purpose of this paper is to investigate motives and modalities of psychedelic substance use in the psychonaut community that is hosted on the Reddit platform (r/psychonaut). Psychonauts are sometimes described as responsible drug users. Elements of responsible use include sharing stories, advice and experiences, reagent testing substances, proper dosing and education on harm reduction and its practical implication. Investigating psychonauts’ substance use can highlight what responsible use means for them and could inform best practices for psychedelic use.
Design/methodology/approach
Qualitative content analysis of posts and comments on the r/psychonaut subreddit was completed. In total, 350 posts were investigated. A combination of deductive and inductive methods was used to both structure the research and to allow room for novel information. To investigate participant’s motives, this combination was used to both collect and analyse the data. To examine modalities, concepts and keywords were formed out of the collected data and then analysed.
Findings
Motives for use ranged from self-knowledge, self-investigation and self-medication to increasing artistic expression, curiosity and recreation. Concerning modalities, the respondents put a high emphasis on preparation, set and setting, integration, dosage and gathering and sharing information through research, articles and trip reports. These features are identified in the literature as elements of responsible drug use. This investigation can help by unearthing best practices already in use by the community to inform the bourgeoning movement of psychedelic substance use – both in a medical and self-reflexive setting.
Originality/value
This paper is framed in the context of paucity of the academic literature on people taking psychedelic substances in Western society in non-rave and non-medical settings, with findings that indicate important change happening in the psychonaut subculture.
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Mahmood Al-khassaweneh and Omar AlShorman
In the big data era, image compression is of significant importance in today’s world. Importantly, compression of large sized images is required for everyday tasks; including…
Abstract
In the big data era, image compression is of significant importance in today’s world. Importantly, compression of large sized images is required for everyday tasks; including electronic data communications and internet transactions. However, two important measures should be considered for any compression algorithm: the compression factor and the quality of the decompressed image. In this paper, we use Frei-Chen bases technique and the Modified Run Length Encoding (RLE) to compress images. The Frei-Chen bases technique is applied at the first stage in which the average subspace is applied to each 3 × 3 block. Those blocks with the highest energy are replaced by a single value that represents the average value of the pixels in the corresponding block. Even though Frei-Chen bases technique provides lossy compression, it maintains the main characteristics of the image. Additionally, the Frei-Chen bases technique enhances the compression factor, making it advantageous to use. In the second stage, RLE is applied to further increase the compression factor. The goal of using RLE is to enhance the compression factor without adding any distortion to the resultant decompressed image. Integrating RLE with Frei-Chen bases technique, as described in the proposed algorithm, ensures high quality decompressed images and high compression rate. The results of the proposed algorithms are shown to be comparable in quality and performance with other existing methods.