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Public debt and macroeconomic stability among sub-Saharan African countries: a system GMM test approach Cogent Economics & Finance Pub Date : 2024-03-26 Jerry Ogutu Sumba, Rogers Ochenge, Paul Mugambi, Collins Muimi Musafiri
This study examined the effect of public debt on macroeconomic stability among 45 sub-Saharan African (SSA) countries for the period 2005–2022 using the two-step system Generalized Method of Moment...
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Exploring the bearing of liquidity risk in the Middle East and North Africa (MENA) banks Cogent Economics & Finance Pub Date : 2024-03-24 Bashar Abu Khalaf, Antoine B. Awad
The paper examines how liquidity risk affects the Middle East and North Africa (MENA) bank profitability. Banks need profitability to survive, but liquidity risk measures long-term company health. ...
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Intellectual capital and total factor productivity Cogent Economics & Finance Pub Date : 2024-03-23 Kalalto Gashe, Zerayehu Sime, Melkamu Mada
This paper defines total factor productivity as a function of a nation’s intellectual capital. By developing a simple model, it explored the long-run relationship between intellectual capital and t...
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Unlocking the potential: challenges and factors influencing the use of ICTs by smallholder maize farmers in Zimbabwe Cogent Economics & Finance Pub Date : 2024-03-21 Stella Nyakudya, Newettie Jambo, Pamela Madududu, Timothy Manyise
The study aims to investigate the challenges faced by smallholder maize farmers and identify the pivotal factors influencing the adoption of ICTs in agriculture. A blend of descriptive and probit r...
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From the French franc to the euro, is there an economic impact for the CFA franc zone countries? A ‘bias-corrected’ synthetic control method Cogent Economics & Finance Pub Date : 2024-03-21 Alassane Diallo, Adama Ba
This paper assesses the impact of pegging the CFA franc to the euro – at a fixed parity – on real GDP per capita in the West African Economic and Monetary Union (WAEMU) and the Central African Econ...
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Technical and allocative efficiency of commercial banks in Ethiopia Cogent Economics & Finance Pub Date : 2024-03-18 Bisrat Getinet Chane, Desta Yohannes Dalalo, Berhanu Dereja Gebremichael
This paper investigated the technical and allocative efficiency of commercial banks in Ethiopia. The analysis was based on unbalanced panel data of 19 banks over the period of 1990-2022. The study ...
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Accruals anomalies could be explained by the adverse selection risk induced by the information structure: the case of the Japanese securities market Cogent Economics & Finance Pub Date : 2024-03-11 Hiroaki Isoyama
Accruals are regarded as investments in working capital and are an integral component in the growth process of firms. By assuming asymmetry of information among investors when predicting the return...
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Bank capital and risk in emerging banking of Jordan: a simultaneous approach Cogent Economics & Finance Pub Date : 2024-03-11 Nusiebeh Nahar Falah Alrwashdeh, Umara Noreen, Muhammad Hassan Danish, Rizwan Ahmed
Financial risk has received increasing attention from policymakers and financial institutions. Therefore, the present study examines the relationship between capital and risk for Jordanian banks by...
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The roles of gold, US dollar, and bitcoin as safe-haven assets in times of crisis Cogent Economics & Finance Pub Date : 2024-03-06 Van Le Thi Thuy, Tran Thi Kim Oanh, Nguyen Thi Hong Ha
Using the GJR-GARCH method, this study examines the safe-haven role of gold, US dollar, and Bitcoin over a period including the global financial crisis, the COVID-19 pandemic and the Russia-Ukraine...
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Assessment of foreign direct investment inflows into Ethiopia in light of peace and security challenges from 2018 to 2022 Cogent Economics & Finance Pub Date : 2024-03-01 Surafel Getahun Ashine
This paper aims at assessing the foreign direct investment inflows to Ethiopia from 2018 to 2022. A qualitative research method is applied to analyze current and relevant documents, government repo...
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Understanding the gender gap in productivity in agricultural production among smallholder cereal growers in rural Ghana Cogent Economics & Finance Pub Date : 2024-03-01 Emmanuel Adu Boahen, Justice Boateng Dankwah, Daniel Berko
The objective of this paper is to investigate the differences in the agricultural productivity of male and female cereal growers in rural Ghana. This study uses data from the Ghana Socioeconomic Pa...
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Trade determinants and opportunities for Indian rice: a dynamic panel gravity model perspective Cogent Economics & Finance Pub Date : 2024-03-01 K. Nirmal Ravi Kumar, K. Gurava Reddy, Adinan Bahahudeen Shafiwu, M. Jagan Mohan Reddy
The dynamics of international trade play a pivotal role in shaping economic growth and development for nations worldwide. This significance is particularly pronounced in the context of India’s agra...
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Financial development impact on domestic investment: does income level matter? Cogent Economics & Finance Pub Date : 2024-02-29 Yizhou He, Tae Hwan Yoo
Financial development significantly bolsters a country’s economic growth and resilience. Despite increasing focus on the relationship between financial development and economic growth, few studies ...
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Debt maturity of different types of debt Cogent Economics & Finance Pub Date : 2024-02-28 Yuree Lim
This paper documents the different debt maturity choices of firms by allowing debt heterogeneity. We use a sample of US companies’ capital structure and employ dynamic panel regressions and Instrum...
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The impact of a crisis on monetary policy’s influence on financial markets: Evidence from the COVID-19 pandemic Cogent Economics & Finance Pub Date : 2024-02-29 Johannes Schrank
This study analyzes the effect of monetary policy, measured by interest rates and money supply, on financial markets. Furthermore, it studies the impact of a crisis on monetary policy’s influence o...
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Financial cycles synchronisation in South Africa. A dynamic conditional correlation (DCC) Approach Cogent Economics & Finance Pub Date : 2024-02-28 Khwazi Magubane
The study analyzed the extent of financial cycle synchronization, as represented by the Aggregate Financial Cycle and the Credit and Housing Cycle, in South Africa from 1975q1 to 2023q4 using the D...
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Bank mergers and acquisitions and the post-merger and acquisition performance of combined banks: evidence from Sub-Saharan Africa Cogent Economics & Finance Pub Date : 2024-02-26 Philip Ayagre, Anthony Q. Q. Aboagye, E. Sarpong-Kumankoma, Patrick Opoku Asuming
This study sought to ascertain the effects of bank mergers and acquisitions on the performance of merged banks in Sub-Saharan African (SSA) countries between 2003 and 2019. Specifically, the study ...
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The transmission mechanism of monetary policy in West African Economic and Monetary Union (WAEMU): evidence from bank balance’ sheet Cogent Economics & Finance Pub Date : 2024-02-20 Ousmane Dieng, Babacar Sene
The objective of this research is to assess the effect of holding government securities on the credit channel, taking into account the heterogeneity of WAEMU banks’ balance sheets. The methodology ...
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Economic growth through global value chains; new insight from exchange rate effects on the African economy Cogent Economics & Finance Pub Date : 2024-02-21 Genevieve Gyasi, Joseph Magnus Frimpong, Kwame Mireku
The study investigated GVC and exchange rate comovements from 1990 to 2018. The study employed a continuous wavelet coherence procedure to investigate the time-frequency dependence of global value ...
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The non-oil institutional sectors and economic growth in Saudi Arabia Cogent Economics & Finance Pub Date : 2024-02-20 Moodhi Raid, Nisar Ahmad, Salim A. Bagadeem, Jumah Alzyadat, Hisham Alhawal
This study explores the role of non-oil institutional sectors in the economic growth of the Saudi economy during the years 1970–2020, using vector auto regression, impulse response function, and va...
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Extending the Theory of Planned Behavior in financial inclusion participation model – evidence from an emerging economy Cogent Economics & Finance Pub Date : 2024-02-19 Haruna Musa, Nor Hayati Binti Ahmad, Alias Mat Nor
Recently, researchers have deployed the Theory of Planned Behavior (TPB) to examine factors influencing financial inclusion participation behaviour. However, more must be made to expand the theory ...
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Distortion of agricultural incentives in East Africa: effects on agricultural value added Cogent Economics & Finance Pub Date : 2024-02-19 Biru Gelgo Dube, Adeba Gemechu Gobena, Amsalu Bedemo Beyene
This study examines the effects of distortion of agricultural price incentives on agricultural value added in East Africa. The World Bank, IFPRI, FAO, and CSP are the sources of data. The dataset r...
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Assessing the effect of INSTC on India’s trade with Eurasia: an application of gravity model Cogent Economics & Finance Pub Date : 2024-02-15 Shujaat Naeem Azmi, Kashif Hasan Khan, Halil Koch
India’s trade with Eurasian countries has been improving steadily. India is aggressively addressing its troubles of accessibility and connectivity to the region, primarily through International Nor...
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Climate change mitigation with Eurobonds: an Environmental Kuznets Curve analysis Cogent Economics & Finance Pub Date : 2024-02-11 Richard Fosu Amankwa, Eric B. Yiadom, Evans Acheampong, John K. M. Mawutor
This study examines the impact of Eurobonds on carbon dioxide emissions in Africa using a panel dataset. The paper reconsidered the Environmental Kuznets Curve (EKC) and integrated it into Eurobond...
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Dynamic link between liquidity and return in the crude oil market Cogent Economics & Finance Pub Date : 2024-02-14 Ugochi C. Okoroafor, Thomas Leirvik
In this study, we investigate the dynamic relationship between return and liquidity in the Brent and the West Texas Intermediate (WTI) oil markets. The research utilises daily oil price and volume ...
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Carbon tax adoption and foreign direct investment: Evidence from Africa Cogent Economics & Finance Pub Date : 2024-02-08 Eric B. Yiadom, Lord Mensah, Godfred A. Bokpin, John K. M. Mawutor
The study investigates the effect of carbon tax adoption on foreign direct investment in Africa. We set up the Dynamic Stochastic General Equilibrium (DSGE) model and estimate it with the differenc...
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Moderating effects of net export and exchange rate on profitability of firms: a two-step system generalized method of moments approach Cogent Economics & Finance Pub Date : 2024-02-08 Sarfraz Hussain, Rosalan Ali, Ahmed Razman Abdul Latiff, Mochammad Fahlevi, Mohammed Aljuaid, Sebastian Saniuk
This study examines the effects of exchange rate and net exports on manufacturing enterprises’ profitability on the Pakistan Stock Exchange (PSX). When activity-based accounting is examined using p...
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Asymmetric modeling of the fiscal policy–economic growth nexus in Somalia Cogent Economics & Finance Pub Date : 2024-02-08 Abdullahi Osman Ali, Jama Mohamed, Mohamed Osman Mohamed
Somalia has faced a prolonged challenge of high dollarization, which has limited the effectiveness of conventional monetary policy tools. In response, fiscal policy has taken center stage as the pr...
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Financial inclusion and expenditure patterns: Insights from slum households in Bangladesh Cogent Economics & Finance Pub Date : 2024-02-07 MD Abdul Bari, Ghulam Dastgir Khan, Mohammad Ajmal Khuram, Md. Jahedul Islam, Yuichiro Yoshida
Vulnerable households often tend to decrease their human capital expenditures, like education and training, to maintain food and non-food (clothing and housing) expenditures when any income shock o...
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The role of economic growth, financial development, globalization, renewable energy and industrialization in reducing environmental degradation in the economic community of West African States Cogent Economics & Finance Pub Date : 2024-02-05 Kwadwo Boateng Prempeh
Since the ECOWAS region is most susceptible to climate change, factors driving climate change and policy processes are pressuring authorities in the region to take more action in the fight against ...
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A roadmap to a green economy in South Africa: modelling technological innovation and energy consumption in the novel dynamic ARDL simulations framework Cogent Economics & Finance Pub Date : 2024-02-05 Maxwell Chukwudi Udeagha, Nicholas Ngepah
South Africa’s heavy reliance on fossil fuels has posed significant challenges to environmental sustainability, primarily due to the associated climate change concerns. To combat these issues, the ...
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Economic convergence in the West African Economic and Monetary Union: a new analysis Cogent Economics & Finance Pub Date : 2024-02-04 Doukouré Charles Fe, Adou Christian Konin, Akra Mohaye Marius N'Guessan
This paper uses a structural approach to analyse economic convergence within the West African Economic and Monetary Union (WAEMU) countries. This Regional Economic Community has recorded several po...
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The extensive and intensive effects of Vietnam’s technical measures on agricultural imports Cogent Economics & Finance Pub Date : 2024-02-04 Bich Ngoc Nguyen
Technical measures, particularly Sanitary and Phytosanitary measures (SPS) and Technical barriers to trade (TBT) can affect to firms’ market entry and the volume of trade. Yet, technical measures i...
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Revisiting ECOWAS-Eurozone exports in the light of asymmetry Cogent Economics & Finance Pub Date : 2024-02-04 Sagiru Mati, Goran Yousif Ismael, Serag Masoud, Karzan Qader Hamad, Abdullahi Ahmed Mohammed, Mustapha Hussaini
This article evaluates the asymmetric impact of exchange rate volatility on the exports of nine ECOWAS countries to the Eurozone. By comparing Autoregressive Distributed Lag (ARDL) and Nonlinear AR...
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Do climate policy uncertainty and economic policy uncertainty promote firms’ green activities? Evidence from an emerging market Cogent Economics & Finance Pub Date : 2024-01-31 Nguyen Thi Hoa Hong, Pham Tuan Kien, Ha Gia Linh, Nguyen Vu Ha Thanh, Nguyen Le Tuan, Phung Duc Anh
This study examines the joint effects of climate policy uncertainty (CPU) and economic policy uncertainty (EPU) on the green activities (GAs) of Vietnamese listed companies from 2010 to 2022. CPU a...
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Does foreign portfolio investment moderate the impact of exchange rate volatility and investor sentiment on country index crash risk? Cogent Economics & Finance Pub Date : 2024-01-30 Lisa Kustina, Rachmat Sudarsono, Nury Effendi
This study evaluates the relationship investor sentiment, exchange rate volatility, net foreign portfolio investment and the country index crash risk. The moderating variable, net foreign portfolio...
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Forecasting Ethereum’s volatility: an expansive approach using HAR models and structural breaks Cogent Economics & Finance Pub Date : 2024-01-29 Ruijie Chen
Cryptocurrencies have become a popular investment option and the Ethereum has become a mainstream cryptocurrency because of the additional functionality that can be accomplished with the backing of...
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Influence of foreign institutional holding on corporate risk-return profile: a panel quantile regression analysis Cogent Economics & Finance Pub Date : 2024-01-23 Souvik Banerjee, Amarnath Mitra, Sangram Kesari Jena, Debaditya Mohanti
The study investigates the influence of foreign institutional investment on the risk-return profile of firms. Corporate risk is analyzed as business risk and financial risk in this study. The impac...
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Does globalization matter for environmental sustainability? New evidence from the QARDL approach Cogent Economics & Finance Pub Date : 2024-01-25 Abdullah Al-Malki, Mehdi Abid, Habib Sekrafi, Nasareldeen Hamed Ahmed Alnor
Many researches have been conducted to provide theoretical explanations and/or empirical evidence of how globalization affects environmental quality. However, theoretical explanations have not reac...
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Analyzing corporate disclosure in Indian banks: assessing compliance, corporate attributes, and performance implications Cogent Economics & Finance Pub Date : 2024-01-18 Naveenan R. V, Ooi Kok Loang, Najaf Iqbal, Suresh G, Mohd Asif Shah
Corporate disclosure is critical for many stakeholders to make the best decisions possible. Corporate disclosure practices may vary based on corporate attributes. This study focuses on analyzing th...
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Correction Cogent Economics & Finance Pub Date : 2024-01-19
Published in Cogent Economics & Finance (Vol. 12, No. 1, 2024)
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Correction Cogent Economics & Finance Pub Date : 2024-01-19
Published in Cogent Economics & Finance (Vol. 12, No. 1, 2024)
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Climate change, governance, and economic growth in Asia: a panel cointegration analysis Cogent Economics & Finance Pub Date : 2024-01-18 Sabeeh Ullah, Muhammad Arif, Shahzad Hussain, Mamdouh Abdulaziz Saleh Al-Faryan
Asian economies are extremely vulnerable to climate due to rapid economic progress, poor governance structure and governmental performance. Keeping in view the fragility of Asia economies in contex...
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Nexus between foreign direct investment, trade openness, and carbon emissions: fresh insights using innovative methodologies Cogent Economics & Finance Pub Date : 2024-01-17 Salim Bagadeem, Raheel Gohar, Wing-Keung Wong, Asma Salman, Bisharat Hussain Chang
Previous research has explored the relationship between carbon emissions, trade openness, and foreign direct investment (FDI), but these studies have not specifically examined carbon emissions usin...
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Comparative analysis of asymmetric impact of cashew nuts and cocoa beans exports on Ghana’s economic growth: a non-linear ARDL approach Cogent Economics & Finance Pub Date : 2024-01-15 Ibrahim Abdul-Karim, Osman Tahidu Damba
The study applied the newly developed Non-linear Autoregressive Distributed Lag (NARDL) model by Shin et al. on annual data for Ghana from 1970 to 2019. Evidence of a long-run asymmetric cointegrat...
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Persistence in high frequency financial data: the case of the EuroStoxx 50 futures prices Cogent Economics & Finance Pub Date : 2024-01-15 Guglielmo Maria Caporale, Alex Plastun
Differences in the behaviour of asset prices depending on data frequency have not been thoroughly investigated in the literature despite their possible importance. In particular, high-frequency dat...
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Does investor sentiment affect the Indian stock market? Evidence from Nifty 500 and other selected sectoral indices Cogent Economics & Finance Pub Date : 2024-01-15 Aditi N. Kamath, Sandeep S. Shenoy, Abhilash Abhilash, Subrahmanya Kumar N
Investor sentiment is the result of irrational speculations about the future asset values driven by the market participants. Though scholarly works on investor sentiment are evolving in both develo...
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The effect of capital structure on performance: empirical evidence from manufacturing companies in Ethiopia Cogent Economics & Finance Pub Date : 2024-01-13 Tesfa Nega Tesema
The aim of the study was to investigate the effect of capital structure as measured by total debt ratio (TOD) and long term debt ratio (LTD), on operating performance and financial performance as m...
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Country-level governance quality, foreign ownership, and firm investment: evidence from WBES database Cogent Economics & Finance Pub Date : 2024-01-13 Quynh Trang Phan
This study investigates the effect of foreign ownership on firm investment and how the country-level governance quality adjusts the relationship between foreign ownership and firm investment. Using...
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Constant relative risk aversion utility and consumption CAPM: discount factors and risk aversions for Norway, Sweden, and the UK Cogent Economics & Finance Pub Date : 2024-01-11 Per Bjarte Solibakke
This paper applies the newly suggested Markov chained Monte Carlo Surface Sampling Algorithm of Zappa estimating European discount factors and relative risk aversions for the CRRA utility functions...
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The Impact of COVID-19 on Stock Returns and Firm Characteristics in the Saudi Stock Market Cogent Economics & Finance Pub Date : 2024-01-11 Asim Alshaikhmubarek, Nada Kulendran, Lalith Seelanatha
This paper investigates the impact of the spread of COVID-19 on the Saudi stock market. More particularly, this study examines the implications of the recent coronavirus on the overall stock return...
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Modelling volatility in job loss during the COVID-19 pandemic: The Malaysian case Cogent Economics & Finance Pub Date : 2024-01-08 Muzafar Shah Habibullah, Mohd Yusof Saari, Ibrahim Kabiru Maji, Badariah Haji Din, Nur Surayya Mohd Saudi
This study employs a suitable volatility model that examines the impact of COVID-19 new cases and deaths on the volatility of daily job loss in Malaysia. Autoregressive Distributed Lag (ARDL) and G...
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Is the nexus between capital structure and firm performance asymmetric? An emerging market perspective Cogent Economics & Finance Pub Date : 2024-01-07 Nikhil M. N., Sandeep S. Shenoy, Suman Chakraborty, Lithin B. M.
The nature of the relationship between leverage and firm performance has been a subject of investigation in extant literature. We re-examine the nature of the association by using a sample of 78 no...
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The underground economy and tax evasion in Ghana: Implications for economic growth Cogent Economics & Finance Pub Date : 2023-12-16 Prince Amfo Wiafe, Mark Armah, Ferdinand Ahiakpor, Kwadwo Addo Tuffour
The objective of the study was to determine the size of Ghana’s “underground economy” and the extent of tax evasion in Ghana. The underground economy in most countries is vital because it serves as...
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The dynamic linkage between renewable energy consumption and environmental sustainability in Sub-Saharan African countries: Heterogeneous macro-panel data analysis Cogent Economics & Finance Pub Date : 2023-12-17 Mulugeta Bekele, Maria Sassi, Kedir Jemal, Beyan Ahmed
Environmental sustainability is a pivotal facet of sustainable development, captivating the attention of development researchers. Within this context, energy consumption emerges as a pivotal determ...
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The factors affecting Vietnam’s canned tuna exports Cogent Economics & Finance Pub Date : 2023-12-14 Nguyen Hong Nga, Le Thi Xoan
In this study, we used the gravity model to identify factors affecting Vietnam’s tuna exports to major import markets, including the United States, Canada, Japan and European countries, and then to...
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Geopolitical risk, economic policy uncertainty, and bank stability in BRICS countries Cogent Economics & Finance Pub Date : 2023-12-11 Oluwaseyi Ebenezer Olalere, Janine Mukuddem-Petersen
Global tensions and uncertainty in economic policy can cause structural change and disruption in the volatile sector of the economy. This study investigates the effects of geopolitical risk on bank...
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Spatial effects of foreign direct investment on wage inequality in Vietnam Cogent Economics & Finance Pub Date : 2023-12-11 Quynh Anh Do, Anh Duc Do, Minh Huan Doan, Quoc Hoi Le, Anh Duc Le, Thi Thanh Duong Nguyen
This study analyzes the effects of foreign direct investment (FDI) on wage inequality in Vietnam by utilizing panel data from 63 provinces over the period 2010–2018. The spatial autocorrelation mod...
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Audit committee effectiveness and integrated reporting quality: Does family ownership matter? Cogent Economics & Finance Pub Date : 2023-12-08 Sumaia Ayesh Qaderi, Belal Ali Ghaleb, Ameen Qasem, Sami Sobhi Saleem Waked
With the increasing demand for greater financial and sustainability reporting transparency, firms globally have embraced integrated reporting (IR). However, little is known about how audit committe...
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Greening the future: Unveiling the link between industrial structure upgrading and pollution emission in sub-Saharan Africa Cogent Economics & Finance Pub Date : 2023-09-15 Eric Fosu Oteng-Abayie, Emmanuel Duodu, Seth Oduro, Samuel Tawiah Baidoo
Abstract Industrial structure upgrading (ISU) in sub-Saharan Africa (SSA) has been improving in recent years, making it essential to examine how such upgrading influences pollution emissions in SSA. However, studies concerning the environment in SSA have overlooked this important role. Consequently, achieving the Sustainable Development Goals becomes futile if such critical issues are not given due