Economic Review: Journal of Economics and Business

MATERIAL MANAGEMENT AND THE SURVIVAL OF BLOCK MOLDING FIRMS

2024-12-16T10:42:37+00:00

The purpose of this study is to examine the effect of material management on the survival of block molding firms in a selected Local Government Area of Ogun State, Nigeria. This study collected data from 100 block molding enterprises from a population of 229 registered businesses in the block molding industry through survey research. To collect data from the respondents, a structured questionnaire with a five-point Likert scale was used. Cronbach's Alpha was used to validate the reliability of the variables utilized in the study. The data was analyzed using descriptive statistics, and the responses were represented using a simple percentage technique. PLS-SEM was used to analyze inferential statistics. The result showed that the coefficient of material procurement (β = 0.114, t = 5.195, p = 0.05) was found to have a significant positive relationship with block-producing-business survival. It also showed that the coefficient of inventory control (β = 0.837, t = 5.514, p = 0.05) was found to have a significant positive relationship with block-producing-business survival. The results further showed that the coefficient of material management (β = 0.965, t = 4.838, p = 0.05) was found to have a significant positive relationship with block-producing-business survival. The study concluded that a cohesive material management strategy can strengthen longevity. It advocated, among other things, that block-producing enterprises implement an integrated approach that harmonizes material procurement and inventory control in order to capitalize on the synergistic benefits of material management. This entails creating complete material management plans that optimize the whole supply chain, from sourcing to storage and distribution.

EFFECT OF GREEN HUMAN RESOURCE MANAGEMENT ON CORPORATE SUSTAINABILITY IN THE INSURANCE SECTOR

2024-12-16T10:47:43+00:00

This study empirically examined the effect of Green Human Resource Management (HRM) on corporate sustainability in the Nigerian insurance industry. The study employed a survey technique through the administration of a structured questionnaire on employees of insurance companies in Nigeria. The population of this study comprised 20,000 employees and agents of insurance firms in Nigeria, which constituted the element of observation of this study. The sample size of the study was determined using Taro Yamane sample size determination formula, at 95% confidence level and 5% confidence interval, which gave a sample size of 377. A non-response rate of 40% was assumed, which increased the sample size to 527 (377+150). The findings reveal that Green HRM has a positive and significant effect on corporate sustainability, with coefficients and probability values of β1 =0.656, P-value < 0.05. This implies that Green HRM has a significant affect on corporate sustainability, The F-stat (52.673), P-value < 0.05 shows the fitness and overall significance of the regression model. The coefficient of determination (R2) suggested that 33.1% variation in corporate sustainability is accounted for by Green HRM. However, the model did not explain 66.9% of the variation in corporate sustainability, implying that there are other elements or factors associated with corporate sustainability, which were not captured in the current model. The study concludes that Green HRM is an important driver of corporate sustainability in the Nigerian insurance industry. Therefore, it is recommended that Nigerian insurance companies should utilize Green HRM towards enhancing their corporate sustainability

EVALUATING LOYALTY IN SOUTH AFRICA’S HOTEL INDUSTRY: THE EFFECT OF SERVICE QUALITY AND BRAND EQUITY

2024-12-16T11:01:32+00:00

The hotel industry in South Africa is fiercely competitive, with a range of accommodation options from international chains to boutique establishments. Establishing and maintaining customer loyalty is essential for hoteliers to ensure repeat business and stand out in a crowded market. This study aimed to evaluate the effect of service quality and brand equity on customer loyalty in South Africa’s hotel industry and explored the mediating effects of tangibles, responsiveness, reliability, empathy, and assurance on customer loyalty through service quality, as well as the mediating effects of brand attachment and brand attitude on customer loyalty through brand equity. Guided by a positivist paradigm, the study employed a quantitative methodology and a descriptive research design. Data was collected via an online survey from 379 respondents and analyzed using Partial Least Squares Structural Equation Modelling (PLS-SEM) to test the hypotheses with SmartPLS version 3. The findings revealed a statistically significant effect of service quality and brand equity on customer loyalty. Furthermore, the findings indicate that customer loyalty mediates the relationship between service quality and brand equity. The study offers valuable insights for hotel managers and marketers, recommending strategies to improve customer loyalty through enhanced service quality, emotional branding efforts, and effective customer loyalty programs. These findings emphasize the importance of exceptional service experiences, robust brand equity, and understanding cultural nuances in consumer behavior, providing actionable insights for achieving a sustainable competitive advantage in the South African hotel industry.

NEXUS BETWEEN RENEWABLE ENERGY EFFICIENCY, FINANCIAL LITERACY, AND GREEN MICROFINANCE: THE CASE OF WOMEN MICROFINANCE GROUP

2024-12-16T11:07:09+00:00

This study aims to investigate the role of financial literacy in green microfinance investment in women's microfinance groups. It considers renewable energy efficiency and financial literacy as factors that influence green microfinance. The study's main goal is to examine the direct and indirect relationships among these three factors. The findings suggest that a pro-climate (SDG 13) policy in response to energy efficiency (SDG 7) is supported by pro-local knowledge-based financial inclusion (SDG 4). Energy efficiency, climate action, and local knowledge-based financial inclusion are seen as policy options to reduce poverty in rural areas in East Sumba.

THE ROLE OF (ECONOMIC) INSTITUTIONS IN ATTRACTING FOREIGN DIRECT INVESTMENT IN BOSNIA AND HERZEGOVINA

2024-12-16T11:14:28+00:00

In the context of encouraging economic growth and development, every country needs adequate financial resources, including Bosnia and Herzegovina (hereinafter BiH). One of the key mechanisms in the context of obtaining financial resources refers to foreign direct investment (hereinafter referred to as FDI). FDI can be a very important channel for technology transfer between countries or simply a way to promote international trade through greater access to foreign markets, while from the aspect of international economic integration it can create stable and long-term connections between countries. Attracting foreign investors requires an adequate investment environment in the country, so institutions are of crucial importance for creating a suitable environment for FDI. Attracting FDI requires an economically stable country with clearly defined directions of development. Considering the large number of studies that claim institutions are of crucial importance for economic development, the goal of this paper is to determine whether institutions in BiH contribute to its economic development, through one of the key mechanisms for accelerating economic development – FDI. The period of 20 years, i.e., 2002-2022, was analyzed. Correlation analysis confirmed a positive relationship between FDI and Voice and Accountability and a negative relationship between FDI and Rule of Law, while linear regression indicates that only Rule of Law has a statistically significant and positive impact on FDI in BiH. The findings of this research can serve the holders of economic power in BiH in designing strategies and policies for economic growth and development, i.e., strengthening economic institutions and attracting FDI.

THE EFFECT OF FINANCIAL DEVELOPMENT ON RENEWABLE ENERGY CONSUMPTION IN CAMEROON

2024-12-16T11:21:16+00:00

The improvement of the energy structure and the development of the renewable energy sector play an important and strategic role in Cameroon's responsibilities against climate change. So, the authorities and policy makers have made great efforts to achieve this. But one of the main constraints of Cameroon's energy transition lies in financial issues, which are inevitably linked to the country's financial development. At the heart of this reflection therefore arises the question of knowing: What could be the impact of financial development on the consumption of renewable energies in Cameroon? This study therefore aims to examine the impact of financial development on the consumption of renewable energies in Cameroon over the period from 2000 to 2022. Our research is based on a Vector Autoregressive (VAR) model; seven variables of financial development have been used to explain the consumption of renewable energies in Cameroon. The results of the empirical analysis show that foreign direct investments, the evolution of bond markets and energy prices represented by the consumer price have a negative effect on the consumption of renewable energies. On the other hand, domestic credit provided by the financial sector, banking availability, economic development, and income have a positive impact on renewable energy consumption. Our empirical results provide valuable insights into the best ways to deploy capital in the renewable energy sector, in order to provide customers with cost-competitive options, and to facilitate the implementation of policies that contribute to environmental sustainability and energy security.