This chapter examines the potential and limitations of criminal law as a policy tool for fighting against the trade in counterfeit goods in Tanzania. It uncovers major challenges…
Abstract
This chapter examines the potential and limitations of criminal law as a policy tool for fighting against the trade in counterfeit goods in Tanzania. It uncovers major challenges involved in tackling the counterfeiting business in Tanzania using criminal law. The chapter shows that counterfeit goods have infiltrated many supply chains in Tanzania. Both law-related and non-law factors drive the counterfeit goods trade. The counterfeiting business affects consumers, traders, the economy and the general society in Tanzania. The counterfeiting business presents serious societal risks during the crises such as the COVID-19 pandemic owing to the possible infiltration of counterfeit pharmaceuticals into the medical supply chain. Criminal law is part of Tanzania's legal embodies for fighting against the counterfeit goods trade. Both law-related and non-law limitations and challenges undermine the efficacy of criminal law in tackling the trade in counterfeit goods in Tanzania. The chapter recommends policy, legal and institutional reforms that will help to augment the efficacy of the anti-counterfeiting legal regime in Tanzania.
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M. Alagbe, L.E. Umoru, A.A. Afonja and O.E. Olorunniwo
This paper aims to present the report of an investigation on the effect of some amino acid based inhibitors on the corrosion characteristics of NST‐44 carbon steel in cassava…
Abstract
Purpose
This paper aims to present the report of an investigation on the effect of some amino acid based inhibitors on the corrosion characteristics of NST‐44 carbon steel in cassava fluid.
Design/methodology/approach
The corrosion rates of the exposed steel were obtained using the weight loss immersion method. The amino‐acid inhibitors investigated included leucine, alanine, methionine and glutamic acid. The corroded surfaces of the specimens were characterized using the optical microscopic techniques.
Findings
It was observed that alanine showed the highest inhibitive potential on the NST‐44 carbon steel in the cassava fluid with an average efficiency of about 50 per cent while glutamic acid had the lowest with less than 30 per cent. Leucine and methionine, however, showed considerable benefit, with inhibition efficiencies of about 46 and 45 per cent, respectively.
Originality/value
The results of this work are expected to improve the corrosion resistance of steel that is often used as construction material for the cassava processing industry in Nigeria.
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Ojonugwa Usman and Umoru Adejo Yakubu
The purpose of this study is to investigate the role of corporate governance practices on the post-privatization financial performance of the firms listed on the Nigerian Stock…
Abstract
Purpose
The purpose of this study is to investigate the role of corporate governance practices on the post-privatization financial performance of the firms listed on the Nigerian Stock Exchange (NSE) over the period 2005-2014.
Design/methodology/approach
The study uses a two-step dynamic system Generalized Method of Moments (GMM) estimation technique for 27 privatized firms by considering a wide range of controlled variables such as managerial shareholdings, board composition, debt financing and stock market development.
Findings
The empirical result suggests that the improvement in the firms’ financial performance is attributed to good corporate governance practices through effective board composition, debt financing (leverage) and stock market development. The result further shows no substantial evidence to support that managerial shareholding improves firms’ financial performance.
Research limitations/implications
Therefore, based on the empirical findings of this study, the authors recommend that the firms need to maintain the optimum board composition and the ratio of debt to share capital as well as developing the stock market to function effectively.
Originality/value
This study contributes to the existing literature in several ways: (1) the first time that the role of corporate governance is considered in explaining the post-privatization financial performance of firms listed on the Nigerian Stock Exchange; (2) the paper applies a two-step dynamic system GMM estimation technique, proposed by Arellano and Bover (1995) and Blundell and Bond (1998) to control for the serial correlation and heterogeneity, which remain the major weaknesses of the panel data modeling in the literature.
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Oyedele Martins Ogundana, Ugbede Umoru, Deborah Ikhile and Chinwe Lucia Egbe
Using an intersectional lens, this article explores the disproportionate effect of health-related crises on vulnerable groups, specifically focusing on migrant women entrepreneurs…
Abstract
Purpose
Using an intersectional lens, this article explores the disproportionate effect of health-related crises on vulnerable groups, specifically focusing on migrant women entrepreneurs and exacerbated by ingrained societal biases related to gender, ethnicity and class.
Design/methodology/approach
Employing an inductive, phenomenological approach, we conducted face-to-face interviews with migrant women entrepreneurs affected by the COVID-19 pandemic. Supplementing our findings, we analysed documents such as UK policy briefings and government task force meeting reports.
Findings
Our research uncovered a substantial decline in the customer base of migrant women entrepreneurs, which was attributed to the perceived susceptibility to the virus. Balancing business responsibilities with childcare resulted in a significant time commitment, influencing mood, well-being, family welfare and financial stability. Through our findings, we highlight that the issue of intersectionality extends beyond sociocultural factors to encompass disruptive events like health-related crises. To mitigate the adverse effects, we advocate for migrant women entrepreneurs to undertake crucial entrepreneurial actions, embrace entrepreneurial orientations, utilise available support systems and cultivate essential soft skills.
Originality/value
Emphasising a holistic approach, this article underscores the necessity of addressing the multifaceted challenges faced by migrant women entrepreneurs during health crises, contributing significantly to a broader understanding of intersectionality beyond sociocultural dimensions.
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Adeniyi D. Olarewaju, Sunday A. Adebisi and Olusoji J. George
The efficacy of conventional financing strategies such as angel investment and venture capital financing developed in the context of Western economies but applied to Africa…
Abstract
The efficacy of conventional financing strategies such as angel investment and venture capital financing developed in the context of Western economies but applied to Africa remains a subject of interest. This chapter, therefore, examined financing strategies that are indigenously peculiar to Africa and opportunities therein that could lead to entrepreneurial growth. Consequently, based on a number of criteria such as population and gross domestic product, five countries were selected from the five distinct African geographical regions while six different homogenous ethnic groups were selected from the five countries based on numbers (strength) and spread. A study of the financing strategies of these ethnic groups revealed germane customary funding practices based on culture and communal norms. Thus, as a result of the findings, a model was developed to explain the path to rapid entrepreneurship growth. It is emphasised that there are indigenous modes of financing strategies which the world could learn and adopt from Africa, particularly in instances where conventional theories or modes are not quite effective. Africa needs to achieve industrialisation and grow at a very rapid pace, and this could be achieved through indigenous financing strategies for its many unemployed youths. Advice for managers, educators and government officials are discussed.
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Afees Adebare Salisu, Aliyu Akorede Rufai and Modestus Chidi Nsonwu
This study aims to construct alternative models to establish the dynamic relationship between exchange rates and housing affordability by estimating both the short- and long-run…
Abstract
Purpose
This study aims to construct alternative models to establish the dynamic relationship between exchange rates and housing affordability by estimating both the short- and long-run relationship between exchange rates and housing affordability for 18 OECD countries from 1975Q1 to 2022Q4. After that, this study demonstrates how this nexus behaves during high and low inflation regimes and turbulent times.
Design/methodology/approach
This study uses the panel autoregressive distributed lag technique to examine the nexus between housing affordability to capture the distinct characteristics of the sample countries and estimate various short- and long-run dynamics in the relationship between housing affordability and exchange rate.
Findings
Exchange rate appreciation improves housing affordability in the short run, whereas this connection tends to dissipate in the long run. Moreover, inflation can worsen housing affordability during turbulent times, such as the global financial crisis, in both the short and long run. Ignoring these changes in the relationship between exchange rates and housing affordability during turbulent times can lead to incorrect conclusions.
Originality/value
To the best of the authors’ knowledge, this study is the first to examine the association between exchange rates and housing affordability by demonstrating how these variables behave in high and low inflation regimes and turbulent times.
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Rostand Arland Yebetchou Tchounkeu
This work aims to analyse the relationship between public health efficiency and well-being considering a panel of 102 Italian provinces from 2000 to 2016 and evaluates if there…
Abstract
Purpose
This work aims to analyse the relationship between public health efficiency and well-being considering a panel of 102 Italian provinces from 2000 to 2016 and evaluates if there are omitted variable biases and endogeneity biases and also evaluates if there are heterogeneous effects among provinces with different income levels.
Design/methodology/approach
We use a multi-input and output bootstrap data envelopment analysis to assess public health efficiency. Then, we measure well-being indices using the min-max linear scaling transformation technique. A two-stage least squares model is used to identify the causal effect of improving public health efficiency on well-being to account for time-invariant heterogeneity, omitted variable bias and endogeneity bias.
Findings
After controlling for important economic factors, the results show a significant effect of an accountable and efficient public health system on well-being. Those effects are concentrated in the North, the most economically, geographically and environmentally advantageous areas.
Research limitations/implications
The use of the sample mean, probably the oldest and most used method for aggregating the indicators, could be affected by variable compensation, with consequent misleading results in the process of constructing the well-being index. Another limitation is the use of lagged values of the main predictor as an instrument in the instrumental variables setting because it could lead to information loss. Finally, the availability of data over a long period of time.
Practical implications
The findings could help policymakers adopt measures to strengthen the public health system, encourage private providers and inspire countries worldwide.
Social implications
These results draw the attention of local authorities, who play an important role in designing and implementing policies to stimulate local public health efficiency, which puts individuals in the conditions of achieving overall well-being in their communities.
Originality/value
For the first time in Italy, a panel of well-being indices was constructed by developing new methodologies based on microeconomic theory. Furthermore, for the first time, the assessment of the relationship between public health efficiency and well-being is carried out using a panel of 102 Italian provinces.
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This paper examines the reaction of the Egyptian stock market to two substantial devaluations of the Egyptian pound (EGP) in 2022 and tests the informational efficiency of the…
Abstract
Purpose
This paper examines the reaction of the Egyptian stock market to two substantial devaluations of the Egyptian pound (EGP) in 2022 and tests the informational efficiency of the Egyptian market.
Design/methodology/approach
The paper uses the event study framework to analyze the significance and direction of abnormal returns of the leading index of the Egyptian stock market (EGX30) on and around the devaluation days. It employs both the constant mean model and the market model to estimate the normal returns of the EGX30. Additionally, the paper uses data on two equity indices, one global and one for emerging markets, as benchmarks for normal returns.
Findings
The paper finds that the Egyptian stock market experienced significant positive abnormal returns on the devaluation days of the EGP in March and October of 2022, indicating a positive market reaction to the devaluation. Furthermore, evidence suggests that the Egyptian market may not be informationally efficient as significant positive abnormal returns were observed two weeks before and two weeks after the devaluation day, suggesting news leaks and delayed reactions, respectively.
Originality/value
This study is the first to examine the impact of the recent two devaluations of the EGP in 2022 on the Egyptian stock market. It complements existing literature by analyzing the immediate market reaction to two consecutive devaluations in an African country. Furthermore, the paper evaluates the efficiency of the Egyptian market in processing information related to exchange rates.
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Kashif Munir and Maryam Sultan
The purpose of this paper is to analyze the impact of taxes on economic growth in the long run as well as in the short run.
Abstract
Purpose
The purpose of this paper is to analyze the impact of taxes on economic growth in the long run as well as in the short run.
Design/methodology/approach
The study uses simple time series model, where real GDP is dependent variable and different forms of taxes are explanatory variables under ARDL framework from 1976 to 2014 at annual frequency for Pakistan.
Findings
Direct taxes have positive relation with economic growth in the long run. Sales tax, tax on international trade (tariffs) and other indirect taxes have positive impact on economic growth of Pakistan in the long run as well as in the short run. However, sales tax and other indirect taxes impact negatively on economic growth in the short run after one year because people realize decline in their real income.
Practical implications
Government should increase direct taxes by increasing tax base. Indirect taxes usually indicate negative impact after one and two years; therefore, government should decrease its reliance on indirect taxes. Government should promote tax awareness among the people which increase the tax morale of people and increase the tax base.
Originality/value
Taxes are disaggregated into direct and indirect taxes, while indirect taxes have been further disaggregated into excise duty, sales tax, surcharges, tax on international trade and other indirect taxes. This study provides useful insight for policy makers in designing taxes and their effect on growth.
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Somnoma Edouard Kaboré and Seydou Sané
The effects of opportunism have been examined before, but not in specific contexts dominated by a collectivist culture. Thus, this research aims to examine the influence of…
Abstract
Purpose
The effects of opportunism have been examined before, but not in specific contexts dominated by a collectivist culture. Thus, this research aims to examine the influence of opportunism on the success of International Development (ID) projects by incorporating a moderating factor – the collectivist dimension of national culture.
Design/methodology/approach
The research is based on a primary database collected by questionnaire from 76 ID project coordinators in Burkina Faso (West Africa). The Partial Least Squares Structural Equation Method (PLS-SEM) was used to test our hypotheses.
Findings
Our results show that opportunism has a direct negative impact on the success of ID projects. Similarly, the collectivist cultural context is to be considered as an independent variable and not a moderating factor. Indeed, the collectivist cultural context has an important positive influence on the project success. Our results call for the implementation of governance mechanisms (especially relational) to prevent opportunistic behaviour.
Originality/value
Until now, the study of the role of culture in the relationship between opportunism and project success has been neglected. Syntheses of the scientific literature on this topic do not mention any studies that have explored the moderating role of collectivist culture on the relationship between opportunism and project success. This is, to our knowledge, the first study conducted in Africa to examine these relationships in the context of ID projects.