{"title":"Impact of China’s comprehensive financial reform pilot zone on digital transformation of manufacturing companies. Evidence from listed companies","authors":"Jianjian Liu, Jie Cheng, Fidelis Ayangbah","doi":"10.1080/23322039.2023.2241222","DOIUrl":"https://doi.org/10.1080/23322039.2023.2241222","url":null,"abstract":"Abstract The establishment of the pilot financial reform zone is aimed at promoting regional financial supply-side structural reform. By giving localities broader financial autonomy, local governments are incentivized to target the “pain points and blockages” in financial services to the real economy, thus having a significant impact on the development and transformation of micro enterprises. Based on micro data of A-share listed manufacturing enterprises in Shanghai and Shenzhen from 2010–2021, this paper uses the double difference method (DID) to explore the impact of the establishment of a comprehensive financial reform pilot zone on the digital transformation of micro manufacturing enterprises and its mechanism. The results found that the pilot zone of comprehensive financial reform significantly improved the digitalization of manufacturing enterprises. Specifically, it effectively promotes the digital transformation of enterprises by reducing their financing costs and promoting their physical investment levels. In particular, it has had a stronger positive impact on the digital transformation of non-state-controlled enterprises, competitive enterprises, and labor-intensive and technology-intensive manufacturing enterprises. The results of the present study can provide a reference experience for other regions to carry out financial reforms to serve the transformation and upgrading of enterprises.","PeriodicalId":106250,"journal":{"name":"Cogent Economics & Finance","volume":"45 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-06-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115198296","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Analysis of contraceptive use among homeless women in Kenya – a case of Nairobi county","authors":"Lydia Cheruto Pkaremba, M. Oleche, E. Owiti","doi":"10.1080/23322039.2023.2235118","DOIUrl":"https://doi.org/10.1080/23322039.2023.2235118","url":null,"abstract":"Abstract Many factors influence the utilization of reproductive healthcare services in Kenya. Despite the effort by the government and other stakeholders to improve access and utilization of these services, there remains a major challenge in reaching out to marginalized segments of society. The study aims to examine the factors affecting the utilization of modern contraceptives by homeless women in Nairobi, Kenya, and draw policy recommendations based on the findings. The study utilized the logit model to analyze determinants of contraceptive utilization by homeless women in Nairobi using primary data collected from 196 households within Nairobi. The number of children per woman, age at first birth, living with a partner, drug abuse by the respondent, drug abuse by respondents’ partner, poverty, child planning, health facility delivery, neonatal death incidence, knowledge of male sterilization, never attending school, primary school attendance, secondary school attendance, operating of small business and contraceptive spending significantly affect the utilization of modern contraceptives by homeless women in Nairobi, Kenya. The majority of homeless women in Nairobi utilized injectibles (26.63%) and implants (24.07%) as a form of contraception. The government should therefore provide a contraceptive mix that incorporates these forms of contraception to ensure maximum utilization.","PeriodicalId":106250,"journal":{"name":"Cogent Economics & Finance","volume":"36 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-06-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"123060930","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Relationship between fixed capital formation and carbon emissions: Impact of trade liberalization in India","authors":"N. Prakash, Madhvi Sethi","doi":"10.1080/23322039.2023.2245274","DOIUrl":"https://doi.org/10.1080/23322039.2023.2245274","url":null,"abstract":"Abstract The liberalization of economies is aimed at boosting domestic growth through foreign investment and trade. The proponents of liberalization argue that opening up markets in developing economies provides access to capital to enhance production. However, proponents of the pollution haven hypothesis (PHH) argue that liberalization and trade agreements have led to the export of carbon-intensive production from wealthier countries to developing economies. The difference between the two outcomes lies in the nature of fixed assets built by developing countries. In this study, we examine the role of fixed capital formation on carbon emissions during two distinct periods of India’s economic development. India liberalized its economy with trade reforms in 1991, thereby providing two distinct time periods of closed and open trade policies. The economic data during 1971–2021 is divided into two parts—before (1971–1990) and after (1991–2021) liberalization. Gross fixed capital formation (GFCF) is used as a measure of capital formation while carbon emissions are used to represent environmental impact. Auto-regressive distributed lag (ARDL) model is used for analysis. Results indicate that GFCF had no significant relationship with carbon emission before liberalization, whereas, there was a significant, positive impact post-liberalization. The study is of significance to policymakers in developing countries as it suggests a change in the capital formation towards low carbon-intensive products and services. It also strengthens the argument for investing capital in cleaner energy and technologies.","PeriodicalId":106250,"journal":{"name":"Cogent Economics & Finance","volume":"32 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-06-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"123678805","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Muhammad Herru Hendrawan, F. Defung, Wirasmi Wardhani
{"title":"Un/desired impact of capital buffers: Evidence from Indonesian bank profitability and risk-taking","authors":"Muhammad Herru Hendrawan, F. Defung, Wirasmi Wardhani","doi":"10.1080/23322039.2023.2245217","DOIUrl":"https://doi.org/10.1080/23322039.2023.2245217","url":null,"abstract":"Abstract The study employs a two-step system GMM technique within a panel data framework to investigate the effects of capital buffers on the profitability and risk behavior of Indonesian commercial banks from 2010 to 2020. The findings reveal that capital buffers serve a dual role, acting as a safety net against potential losses while also promoting increased financial stability and stronger shareholder engagement. This ultimately benefits the bank and its stakeholders in the long run. However, the positive effects of capital buffers come at a cost, as they are associated with reduced returns on assets and return on equity. The study emphasizes the importance of managing risk effectively, striking a delicate balance between risk-taking and prudent risk management to achieve optimal profitability. It underscores the need for banks to prioritize robust risk management practices and proper capitalization to avoid pursuing profitability at the expense of these critical factors. The study further highlights the significance of policymakers finding the right equilibrium between promoting financial stability through capital requirements and fostering a competitive banking industry that can generate profits and support economic growth.","PeriodicalId":106250,"journal":{"name":"Cogent Economics & Finance","volume":"3 5","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-06-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"113978741","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Factors affecting rural women economic empowerment in Wolaita Ethiopia","authors":"B. Kuma, Abebech Godana","doi":"10.1080/23322039.2023.2235823","DOIUrl":"https://doi.org/10.1080/23322039.2023.2235823","url":null,"abstract":"Abstract Empowering rural women economically helps to ensure gender equality, the well-being of nation and the basic needs of a family. This study was conducted to figure out factors affecting rural women economic empowerment endeavors of development practitioners in Wolaita Ethiopia. Multi-stage sampling techniques were used to obtain a sample size of 100 rural households. Data were collected using cross-sectional semi-structured questionnaire, which were analyzed by descriptive and binary logit model. Rural women economic empowerment index was calculated to measure dependent variables. The index result showed that 69% of the households scored less than 0.5, and thus were considered economically not empowered. The binary logit model result revealed that age of women, marital status, educational level, perception toward economic empowerment, motivation, income, participation in decision-making and participation in leadership positively and significantly affected rural women economic empowerment. It is recommended that existing programs and strategies should be reviewed and new ones should be designed to effectively improve the situation of rural women economic empowerment.","PeriodicalId":106250,"journal":{"name":"Cogent Economics & Finance","volume":"38 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-06-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129407249","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Accounting information quality moderates the effect of dividends on investment decisions: Evidence in Vietnam","authors":"Quoc Trung Nguyen Kim","doi":"10.1080/23322039.2023.2234129","DOIUrl":"https://doi.org/10.1080/23322039.2023.2234129","url":null,"abstract":"Abstract The author specifies the pivotal role of accounting information quality in moderating the influence of dividends on the investment decisions of listed firms in Vietnam from 2009 to 2020. In this study, the significant dependence of investment on dividends is proved by the Two-Step System Generalized Method of Moments. The key findings show that dividends and investment decisions have a statistically significant negative relationship. The relationship is clarified based on agency theory, asymmetric information theory, and signaling theory, which are used in low-information-transparency markets such as the Vietnamese market. Primarily, the role of a moderating factor could mitigate the negative relationship above.","PeriodicalId":106250,"journal":{"name":"Cogent Economics & Finance","volume":"53 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-06-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"128583452","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Combating tax aggressiveness: Evidence from Indonesia’s tax amnesty program","authors":"Muhammad Arsalan Khan, S. Nuryanah","doi":"10.1080/23322039.2023.2229177","DOIUrl":"https://doi.org/10.1080/23322039.2023.2229177","url":null,"abstract":"Abstract Taxation has a vital role as a domestic financial source to achieve Sustainable Development Goals (SDGs). To increase domestic revenue, combating tax avoidance is important, especially for Indonesia, one of the most populous countries with the fact that the 2020 country’s tax-to-GDP ratio decreased to 10.1% in 2020 which is below the Asia and Pacific average of 19.1%. This paper examines the effect of the tax policy of Indonesia, i.e., tax amnesty and other factors on tax aggressiveness. Indonesia is taken as the case study for the specific characteristics of its tax reforms. The sample of this study consists of 402 observations from manufacturing companies listed in the Indonesian Stock Exchange (IDX) for the periods of 2013–2018. This study collected secondary data and employed a purposive sampling method for the selection of samples. Multiple regression analysis was used to examine the factors affecting tax aggressiveness. The results show that internal governance mechanisms, namely independent commissioners and institutional ownership, as well as the company’s characteristics, namely leverage and profitability, have a significant effect on tax aggressiveness. This study, however, cannot find the effectiveness of tax amnesty in combatting tax aggressiveness. This study brings an implication for developing tax policies for companies in Indonesia, to reduce tax aggressiveness.","PeriodicalId":106250,"journal":{"name":"Cogent Economics & Finance","volume":"13 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-06-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"126844640","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
T. Dartanto, H. Susanti, Eldest Augustin, Kania Fitriani
{"title":"Reemployment during the Covid-19 pandemic in Indonesia: What kinds of skill sets are needed?","authors":"T. Dartanto, H. Susanti, Eldest Augustin, Kania Fitriani","doi":"10.1080/23322039.2023.2210382","DOIUrl":"https://doi.org/10.1080/23322039.2023.2210382","url":null,"abstract":"Abstract The COVID-19 pandemic has disrupted the labor market leading to significant unemployment. This study explores the 2019, 2020, and 2021 National Labor Force Survey (Sakernas) to examine the labor market changes and the relationship between workers’ skill sets, such as hard skills (vocational education), soft skills, and digital literacy and reemployment during the COVID-19 pandemic. Our descriptive statistics analysis confirms that the scarring effect exists as the share of the informal sector increases by around 4.5 percentage points during the COVID-19 pandemic. Moreover, our estimations using the Bivariate Probit Model show that social skills and digital literacy are important determinants for reemployment at the national level. In contrast, vocational education and problem-solving skills are statistically insignificant. Workers with social skills tend to have a higher probability of being reemployed, by 41% in 2020 and 27% in 2021, compared to workers without any. Our study also finds a heterogenous relationship between skill sets and reemployment. Social skill is significantly correlated with reemployment in an urban area, Java-Bali, and young workers in the 15–24 age group. In addition, vocational education is crucial for reemployment, especially among young workers during the economic recovery period in 2021. Our study suggests that the government should focus on preparing the correct and relevant skill sets for young workers aged 15–24 to respond to the significant demand changes in the post-pandemic labor market.","PeriodicalId":106250,"journal":{"name":"Cogent Economics & Finance","volume":"13 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-06-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"131069011","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Abdul-Azeez Sani Baraya, R. Handoyo, K. Ibrahim, A. Yusuf
{"title":"Determinants of households’ energy consumption in Kebbi State Nigeria","authors":"Abdul-Azeez Sani Baraya, R. Handoyo, K. Ibrahim, A. Yusuf","doi":"10.1080/23322039.2023.2242731","DOIUrl":"https://doi.org/10.1080/23322039.2023.2242731","url":null,"abstract":"Abstract This study aims to scrutinize the determinants of household energy consumption needs in Kebbi State, Nigeria. The data for the study were sourced from household heads within the study area. The paper analyzes the determinants of household energy consumption using six energy consumption indicators (household expenditure on energy, electricity, LPG, kerosene, charcoal, and biomass). To analyze the data, the study used descriptive statistics and binary logistic regression (which has rarely been used in this kind of study) which broaden our understanding of social, economic, and environmental perspectives on energy usage. Our empirical strategy indicates that all the instruments used are appropriate based on Cronbach’s alpha scale value of greater than 0.9. Education level was found to be a significant factor in energy expenditure by household, electricity, LPG, and kerosene usage, while negatively correlated with biomass usage. A binary logit regression model revealed that household head income, availability of different energy choices, reliability, and affordability are the major determinants of household energy consumption needs. Findings further show that low-income household heads which account for more than 60% of the respondents rely heavily on the traditional methods of biomass to meet their energy needs. The finding further revealed that 72.80% of the respondents confirmed that accessibility is one of the driving forces which determines their energy choice. Based on the findings, the study therefore, recommends the need to ensure the availability and affordability of safer forms of energy as well as invest more in making renewable energy available and affordable.","PeriodicalId":106250,"journal":{"name":"Cogent Economics & Finance","volume":"242 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-06-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"121249037","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"The impact of remittances on economic growth in Ghana: An ARDL bound test approach","authors":"Abdul-Malik Abdulai","doi":"10.1080/23322039.2023.2243189","DOIUrl":"https://doi.org/10.1080/23322039.2023.2243189","url":null,"abstract":"Abstract International remittances remained one major source of international financial resources in the world. Yet very limited empirical studies exist on the impact of these remittances on economic growth, more especially in Ghana. To bridge this void in literature, the study analyzes the impact of remittances on GDP growth in Ghana from 1990 to 2020. The ARDL estimation technique was used to test the long-run association between the selected variables. The results showed that GDP growth rate has a long-run relationship with remittance inflows, foreign direct investment, unemployment rate, inflation, trade, population growth rate and official development assistance. Lastly, the mediating effect of unemployment on remittance inflows negatively affects GDP growth rate in both runs. It is therefore recommended that to ensure sustained GDP growth rate in Ghana, government should consider tapping into the contribution of remittances by ensuring reliable transfer means and cutting down the cost of transfer.","PeriodicalId":106250,"journal":{"name":"Cogent Economics & Finance","volume":"29 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-06-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129046181","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}