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Overeducation among graduates from universities of applied sciences: Determinants and consequences 应用科学大学毕业生的过度教育:决定因素和后果
Journal of Economic and Financial Studies Pub Date : 2015-04-27 DOI: 10.18533/JEFS.V3I02.105
Andrea Diem
{"title":"Overeducation among graduates from universities of applied sciences: Determinants and consequences","authors":"Andrea Diem","doi":"10.18533/JEFS.V3I02.105","DOIUrl":"https://doi.org/10.18533/JEFS.V3I02.105","url":null,"abstract":"This paper investigates the phenomenon of qualification mismatch (overeducation) among graduates from universities of applied sciences. Using data from the Swiss graduate surveys, it analyses the incidence of mismatch, determinants, and the connections with earnings and job satisfaction. Analyses show that a year after graduating around one sixth of those employed (17%) are in a job which does not match, or only partially matches, the qualifications they have acquired, and that this proportion is not diminishing significantly in the medium term. The risk of mismatch varies considerably, however, by subject area and final grade. In addition, the results indicate that employment below the level of qualification on entering professional life significantly raises the probability of mismatch in the following years too. Analyses of the impacts suggest that employment poorly matched to education and training is associated with an income penalty of around 5% in the short to medium term. Graduates in a mismatch situation also demonstrate less job satisfaction than those in a position matched to their qualification.","PeriodicalId":130241,"journal":{"name":"Journal of Economic and Financial Studies","volume":"138 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2015-04-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"127453989","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}
引用次数: 20
Developing an organized commodity exchange in Ghana: Challenges and economic prospects 在加纳发展有组织的商品交换:挑战和经济前景
Journal of Economic and Financial Studies Pub Date : 2015-04-27 DOI: 10.18533/JEFS.V3I02.155
Mohammed Iddrisu Ngmenipuo, O. Issah
{"title":"Developing an organized commodity exchange in Ghana: Challenges and economic prospects","authors":"Mohammed Iddrisu Ngmenipuo, O. Issah","doi":"10.18533/JEFS.V3I02.155","DOIUrl":"https://doi.org/10.18533/JEFS.V3I02.155","url":null,"abstract":"We have examined challenges and economic prospects of establishing an organized Commodity Exchange in Ghana. We find that such a market will result in reduction in post-harvest losses through price stability, improvement in commodity price risk and credit risk management, provision of a transparent and competitive price discovery mechanism, reduction in transaction and marketing costs, and avoidance of making the mistakes of others. However, we also identify the challenges that should be resolved such as lack of laws and regulations specifically pertaining to the commodity exchange; inadequate financial support; lack of trading infrastructure; inadequate volume; liquidity problem; smallholder farms; lack of understanding of trading instruments; and government/political interference to this end. Overall policy implications suggest inadequate infrastructure and capacity building of market participants should be enhanced.","PeriodicalId":130241,"journal":{"name":"Journal of Economic and Financial Studies","volume":"56 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2015-04-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"130553128","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}
引用次数: 5
Testing Benjamin Graham’s net current asset value model 检验本杰明·格雷厄姆的净流动资产价值模型
Journal of Economic and Financial Studies Pub Date : 2015-02-24 DOI: 10.18533/JEFS.V3I01.151
Chongsoo An, J. Cheh, Il-woon Kim
{"title":"Testing Benjamin Graham’s net current asset value model","authors":"Chongsoo An, J. Cheh, Il-woon Kim","doi":"10.18533/JEFS.V3I01.151","DOIUrl":"https://doi.org/10.18533/JEFS.V3I01.151","url":null,"abstract":"The objective of this paper is to empirically test one of Graham’s investment methods based on the net current asset value (NCAV). The NCAV is truly unique, and conservative, and commonly known as the net-net method.  The ratio of the net current asset value to market value (NCAV/MV) was employed in this study to test a stock’s performance comparing to the performance of SP (b) investing in the growth period and avoiding the downturn period leads investors to earn much higher returns from the firms with a high NCAV/MV ratio; and (c) The NCAV/MV strategy requires a longer holding period of the portfolio in order to generate excess returns.","PeriodicalId":130241,"journal":{"name":"Journal of Economic and Financial Studies","volume":"6 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2015-02-24","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115713597","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}
引用次数: 3
The impact of the federal funds rate on an investor’s return 联邦基金利率对投资者收益的影响
Journal of Economic and Financial Studies Pub Date : 2015-02-24 DOI: 10.18533/JEFS.V3I01.152
Ikhlaas Gurrib
{"title":"The impact of the federal funds rate on an investor’s return","authors":"Ikhlaas Gurrib","doi":"10.18533/JEFS.V3I01.152","DOIUrl":"https://doi.org/10.18533/JEFS.V3I01.152","url":null,"abstract":"The study aims to analyze stock price movements of the world’s widely used index S&P 500 and the rapid growing economy index of Dubai Financial Market (DFM). While UAE adopts a similar monetary policy to the US due to the pegging of the two countries’ currencies, UAE’s GDP and financial markets have been witnessing more robust performance since the financial crisis, raising the issue as to whether following monetary policy actions set by the Federal Reserve Bank is beneficial to the UAE financial markets. The paper investigates the effect of changes in Federal Funds Rate (FFR) on the domestic U.S. market returns studied through S&P 500 and the international UAE DFM market returns observed through DFM index. The models under analysis not only look at the effect of changes in the FFR on market indices’ returns, but also whether U.S. monetary policy reversals have a stronger effect than other changes, by imposing a dummy variable adjustment to the model. As part of robustness testing, further analysis is carried out by defragmenting the data into the pre and post financial crisis of 2008. Findings suggest that the DFM index is highly sensitive to the change in FFR compared to S&P 500 index. Compared to the pre financial crisis, both the S&P500 Index and DFM Index are significantly affected by positive changes in the FFR. Positive changes in the FFR tend to affect the DFM returns more negatively than S&P500 Returns, suggesting any future positive change in FFR would affect the financial markets negatively, by pulling prices down globally.","PeriodicalId":130241,"journal":{"name":"Journal of Economic and Financial Studies","volume":"44 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2015-02-24","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"127927224","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}
引用次数: 1
An Economic Analysis of Boko Haram’s Activities in the Chad-Cameroon-Nigeria Border Area “博科圣地”组织在乍得-喀麦隆-尼日利亚边境地区活动的经济分析
Journal of Economic and Financial Studies Pub Date : 2015-02-24 DOI: 10.18533/JEFS.V3I01.98
Tamba I. Isaac
{"title":"An Economic Analysis of Boko Haram’s Activities in the Chad-Cameroon-Nigeria Border Area","authors":"Tamba I. Isaac","doi":"10.18533/JEFS.V3I01.98","DOIUrl":"https://doi.org/10.18533/JEFS.V3I01.98","url":null,"abstract":"Terrorism is fast becoming a worldwide phenomenon with about 25% of attacks committed in developing countries. These attacks devastate societies causing huge economic loss with negative growth effects. Recent attacks suspectively conducted by Boko Haram in the north of Nigeria and along its border with Cameroon and Chad are already inflicting damage to local economies with a general drop in savings, investment, trade and a strain on domestic budgets. Poverty and exclusion generate dissidents and reactionary groups activities such as Boko Haram. But, the historical background permits to understand the emergency and the development of some of them. Tackling the Boko Haram threat requires a concerted multinational approach with a key socioeconomic component that incorporates the fact that conflict thrives better in circumstances of poverty and inequality.","PeriodicalId":130241,"journal":{"name":"Journal of Economic and Financial Studies","volume":"79 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2015-02-24","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"121309317","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}
引用次数: 4
Credit Risk Management and Financial Performance of Selected Commercial Banks in Nigeria 尼日利亚选定商业银行的信贷风险管理和财务绩效
Journal of Economic and Financial Studies Pub Date : 2015-02-24 DOI: 10.18533/JEFS.V3I01.73
Alalade S. Yimka, Agbatogun Taofeek, Cole Abimbola, Adekunle Olusegun
{"title":"Credit Risk Management and Financial Performance of Selected Commercial Banks in Nigeria","authors":"Alalade S. Yimka, Agbatogun Taofeek, Cole Abimbola, Adekunle Olusegun","doi":"10.18533/JEFS.V3I01.73","DOIUrl":"https://doi.org/10.18533/JEFS.V3I01.73","url":null,"abstract":"The study examines the role of credit risk management in value creation process among commercial banks in Nigeria. The study reviews the concepts, theories, legal acts and standards relating to the credit risk management and then develops a conceptual model with four antecedents to credit risk. The study analyzes the impact of these antecedents such as antecedents are loan and advance loss provision, total loan and advances, non-performing loan and total asset on accounting Return on Equity (ROE) and Return on Asset (ROA). The panel data come from 10 commercial banks listed on Nigeria Stock Exchange (NSE) between 2006 and 2010. The results reveal that credit risk management has significant effect on financial performance of commercial banks and further recommend that maintaining minimum level of non-performing loans vis-A -vis provision for loans and advances will enhance financial performance through its positive effect on return on equity.","PeriodicalId":130241,"journal":{"name":"Journal of Economic and Financial Studies","volume":"95 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2015-02-24","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"116315448","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}
引用次数: 24
Fiscal Reform and the Tax Burden of State-Owned Enterprise in China 财政改革与中国国有企业税负
Journal of Economic and Financial Studies Pub Date : 2015-02-24 DOI: 10.18533/JEFS.V3I01.102
Yong-Ching Chiou, Y. Hsieh, Wenyi Lin
{"title":"Fiscal Reform and the Tax Burden of State-Owned Enterprise in China","authors":"Yong-Ching Chiou, Y. Hsieh, Wenyi Lin","doi":"10.18533/JEFS.V3I01.102","DOIUrl":"https://doi.org/10.18533/JEFS.V3I01.102","url":null,"abstract":"This study examines the link between state-owned enterprises (SOEs) and effective tax rates (ETRs) in China. Based on a sample of China’s listed companies from 1999-2010, this paper uses the institutional environments, socialist planned commodity economy and socialist market economy, to examine the relationship between ETR and SOE. Our results suggest that SOEs are an important determinant of ETR in China. China’s SOEs pay higher effective tax rates and the results are consistent with the SOE hypothesis developed in this paper based on examination of the China’s context.","PeriodicalId":130241,"journal":{"name":"Journal of Economic and Financial Studies","volume":"95 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2015-02-24","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"122183703","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}
引用次数: 0
The Public Earnings Premium in a Mineral Rich Economy: New Piece in the Puzzle 矿产丰富经济中的公共收入溢价:拼图的新部分
Journal of Economic and Financial Studies Pub Date : 2015-02-24 DOI: 10.18533/JEFS.V3I01.100
Usamah F. Alfarhan
{"title":"The Public Earnings Premium in a Mineral Rich Economy: New Piece in the Puzzle","authors":"Usamah F. Alfarhan","doi":"10.18533/JEFS.V3I01.100","DOIUrl":"https://doi.org/10.18533/JEFS.V3I01.100","url":null,"abstract":"This paper addresses the determination of sector earnings and the public earnings premium in Saudi Arabia. It uses a primary cross section of individuals collected in 2013, and employs the Oaxaca-Blinder decomposition methodology to show whether the observed sectoral earnings' differential is explained by differences in workers' characteristics or by a favorable public wage structure. While controlling for selection, the paper shows that public workers are better endowed rather than overpaid by a wealthy state. This finding suggests that, contrary to the general belief, the determination of public earnings does not contradict active labor market policies designed to encourage private sector employment of locals.","PeriodicalId":130241,"journal":{"name":"Journal of Economic and Financial Studies","volume":"238 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2015-02-24","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"124026594","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}
引用次数: 0
Economic Democracy and Business Governance in Meade’s Works 经济民主与企业治理在企业管理中的作用
Journal of Economic and Financial Studies Pub Date : 2015-02-24 DOI: 10.18533/JEFS.V3I01.99
G. Cuomo
{"title":"Economic Democracy and Business Governance in Meade’s Works","authors":"G. Cuomo","doi":"10.18533/JEFS.V3I01.99","DOIUrl":"https://doi.org/10.18533/JEFS.V3I01.99","url":null,"abstract":"The supposedly inefficient use of resources in producer cooperatives has been the object of eager debate among theorists for decades. This debate originated from the fact that Ward and Vanek, whose model had long been rated as a blueprint for the working of cooperatives, had reached the conclusion that their short-run behaviour was not Pareto-optimal. Their finding is highlighted by a downward sloping supply curve. The first solution suggested by Meade was differentiating the pay rates of workers assigned to the same jobs, in terms of fixing the incomes of new entrants at levels not exceeding the value generated by their work inputs. The Inegalitarian Cooperative does solve short-term problems, but fails to remove the odds faced by cooperatives when it comes to financing their investments and working capital. In later years, Meade proposes a new business form in order to deal with the last mentioned drawbacks. The business form concerned is the Discriminating Labour-Capital Partnership, whose microeconomic characteristics will be analysed in this paper. The issue discussed by Meade has great importance with regard to the current debate on social welfare because it provides a comprehensive reform of the fiscal and social policy by introducing, inter alia, a generalized and unconditional social dividend. The critical analysis of his works shows some weaknesses.","PeriodicalId":130241,"journal":{"name":"Journal of Economic and Financial Studies","volume":"11 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2015-02-24","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"116903474","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}
引用次数: 0
Marine Fisheries and Mariculture in Croatia: Economic and Trade Analysis 克罗地亚的海洋渔业和海水养殖:经济和贸易分析
Journal of Economic and Financial Studies Pub Date : 2014-12-22 DOI: 10.18533/JEFS.V2I04.91
F. D. Leo, P. Miglietta, Slađana Pavlinović
{"title":"Marine Fisheries and Mariculture in Croatia: Economic and Trade Analysis","authors":"F. D. Leo, P. Miglietta, Slađana Pavlinović","doi":"10.18533/JEFS.V2I04.91","DOIUrl":"https://doi.org/10.18533/JEFS.V2I04.91","url":null,"abstract":"The aim of this paper is to identify the state and trends in Croatian marine resource sector which determine the trade balance with Italy. Firstly, size and the structure of the marine fisheries in Croatia are investigated taking into account time trends and the effects of the EU common market policy. Furthermore, we compared the size of export and import of the fishery products. In particular, we look at the relevant indicator of trade with Italy. Since the wholesale market places are established with difficulties in Croatia, the trade channels of the marine fishery products are rather heterogeneous. Next, the market size and structure are analyzed for the specific markets, together with the analysis of the information asymmetry problems. The analysis results with several findings including that the total fish catch volume is accompanied by a decrease in fish catch value. Furthermore, the gap between Italian and Croatian catches in the Mediterranean Sea shrink, and more fish products are exported from Croatia to Italy than imported from Italy to Croatia. The average size of Croatian fishing fleet vessel is still much lower than the average fishing vessel size arriving at Croatian ports. Finally, fish market is underdeveloped in Croatia with low value added created along the trading chains.","PeriodicalId":130241,"journal":{"name":"Journal of Economic and Financial Studies","volume":"27 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2014-12-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"124082095","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}
引用次数: 4
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