{"title":"Formulating a Dividend Policy for a Firm","authors":"Prakash Deo","doi":"10.33423/jabe.v25i2.6104","DOIUrl":"https://doi.org/10.33423/jabe.v25i2.6104","url":null,"abstract":"This study seeks to identify key factors in formulating a dividend policy for a firm. We revisit the theory of stock valuation and identify and explore the impact of critical factors on a firm’s dividend policy. Next, we develop a framework and investigate financial data requirements to formulate such a policy and illustrate a methodology with an example of a case study for a firm which had never paid dividends but plans to change its policy. We recommend further research into issues in development and implementation of a firm’s stock repurchase plan in lieu of or to complement a dividend policy.","PeriodicalId":43552,"journal":{"name":"Journal of Applied Economics and Business Research","volume":"139 1","pages":""},"PeriodicalIF":1.3,"publicationDate":"2023-06-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"86623674","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 the COVID-19 Pandemic and the Russia-Ukraine War on Stock, Gold, and Bitcoin Markets: Examining Volatility Spillovers and Extreme Return Movements","authors":"Chung Baek, Haksoon Kim, Dylan Norris","doi":"10.33423/jabe.v25i2.6105","DOIUrl":"https://doi.org/10.33423/jabe.v25i2.6105","url":null,"abstract":"We examine how the COVID-19 pandemic and Russia-Ukraine war affect volatility spillovers and extreme return movements in the stock, gold, and bitcoin markets. Our study uses the post-pandemic period of up to two and a half years in order to reflect the lingering effects of the pandemic as well as its initial impact. We find that volatility spillover has weakened in the post-versus pre-pandemic period. Additionally, our results suggest that the Russia-Ukraine war has had little impact on volatility spillovers. We subsequently test for extreme return movements separately and find substantial increases in the likelihood that two assets’ extreme returns move simultaneously post-versus pre-pandemic.","PeriodicalId":43552,"journal":{"name":"Journal of Applied Economics and Business Research","volume":"22 1","pages":""},"PeriodicalIF":1.3,"publicationDate":"2023-06-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"74924472","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}
Denis Boudreaux, S. P. U. Rao, Deergha Raj, Adhikari
{"title":"A Financial Analysis of Domestic Firms With Highest Returns to Capital During the Worldwide Pandemic","authors":"Denis Boudreaux, S. P. U. Rao, Deergha Raj, Adhikari","doi":"10.33423/jabe.v25i2.6092","DOIUrl":"https://doi.org/10.33423/jabe.v25i2.6092","url":null,"abstract":"This study analyzes the financial profile and risk-performance characteristics for the group of firms reporting the highest returns to total capital in the Value Line database during the worldwide pandemic. It compares the firms with a group selected randomly from the same industries to investigate if the firms reporting high returns to capital in such unusual economic environment have a unique risk-performance profile. This study tests if the group with the highest returns has a unique financial profile, and can the findings be validated without bias. If the answer is “yes,” then it would imply the financial profile may be used as a tool to predict if a particular company will maintain extraordinary performance in periods with similar market disturbances. As this study uses a new tool to analyze the financial characteristics of companies, it is a significant addition to the growing body of knowledge. Moreover, the tool used can also be applied by financial researchers, investors, and investment advisors/counselors in determining firm’s inherent values in such a unique environment.","PeriodicalId":43552,"journal":{"name":"Journal of Applied Economics and Business Research","volume":"55 1","pages":""},"PeriodicalIF":1.3,"publicationDate":"2023-06-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"79794764","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":"Understanding the Theoretical Foundations Underlying the Formalization of the Informal Economy","authors":"Traore Nohoua","doi":"10.33423/jabe.v25i2.6100","DOIUrl":"https://doi.org/10.33423/jabe.v25i2.6100","url":null,"abstract":"The objective of this article is to contribute to the deepening of knowledge on the theoretical foundations of formalization, based on a literature review in order to identify the paths of formalization. The present analysis shows that working in the informal sector is a rationally motivated decision of the entrepreneur. One of the solutions lies in the efficiency of the services provided by the State, given that the payment of taxes does not give the right to a simultaneous counterpart. It also shows that both the state and the entrepreneurs benefit from cooperation. Thus, their relations must be governed by a optimal contractual relationship for the successful formalisation. It has also been shown that micro-enterprises are subject to inadequate legislation, hence the need to revise the legislation in force. Also, the lack of support from the financial system and training programs adapted to the specificities of the enterprises would constitute fewer factors of production. Thus, it is desirable to improve the access of informal entrepreneurs to these productive resources.","PeriodicalId":43552,"journal":{"name":"Journal of Applied Economics and Business Research","volume":"26 1","pages":""},"PeriodicalIF":1.3,"publicationDate":"2023-06-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"85290453","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":"Modeling Public Sector Corruption and the Institutional Environment in Emerging Economies: An Institutional Theory View","authors":"Madhurima Bhattacharyay, Feifei Wang, Feng Jiao","doi":"10.33423/jabe.v25i2.6109","DOIUrl":"https://doi.org/10.33423/jabe.v25i2.6109","url":null,"abstract":"This paper models and empirically explores the institutional environment in emerging economies concerning public sector corruption. Employing perspectives from institutional theory, the paper develops strategies for reducing the perceived level of corruption by assessing the interaction between regulatory, cognitive, and normative institutional elements. We find that the regulatory, institutional elements, the legal system, and business, and professional associations have a positive linear relationship with reduced perceived level of corruption. In contrast, the freedom of the media does not have a linear relationship with the perceived level of corruption and serves as a moderator. Finally, the interaction effect between the legal system and the media is stronger than the interaction effect between the media and business and professional associations.","PeriodicalId":43552,"journal":{"name":"Journal of Applied Economics and Business Research","volume":"3 1","pages":""},"PeriodicalIF":1.3,"publicationDate":"2023-06-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"73314122","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":"Problem Areas and Solutions in the Turkish Health System","authors":"Selami Yildirim","doi":"10.33423/jabe.v25i2.6103","DOIUrl":"https://doi.org/10.33423/jabe.v25i2.6103","url":null,"abstract":"This study aims to identify issues in the healthcare system in Turkey. The main objective of health systems can be articulated as increasing societal health while protecting citizens from the financial risks of disease and treating patients with dignity. With its facilities and budget, the Turkish Health System tries to meet the health needs of its citizens. However, it cannot deliver the expected results, owing to recent negative developments in several areas. Rehabilitation of the system will be possible only through a holistic approach, analysis of the system, identification of problematic areas, and implementation of policies that can be implemented with determination.","PeriodicalId":43552,"journal":{"name":"Journal of Applied Economics and Business Research","volume":"88 1","pages":""},"PeriodicalIF":1.3,"publicationDate":"2023-06-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"75919196","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":"An Optimization Technique for Ranch Management","authors":"Alfonso Juan Hinojosa","doi":"10.33423/jabe.v25i2.6111","DOIUrl":"https://doi.org/10.33423/jabe.v25i2.6111","url":null,"abstract":"Water is a scarce resource; it is a vital resource in the production of crops for livestock that will directly impact supply chain costs. Many costs occur in poorly deployed irrigation systems that don’t fully utilize land potential, thereby, not produce the proper yield of crops for livestock. An irrigation system can not only reduce initial set up and maintenance costs but reduces land waste while increasing yield of dry matter feed. This research presents a cost benefit analysis approach to determine the practicability of installing an irrigation system onto 54 acres of ranch land by employing the use of linear programming. Specifically, by examining factors that impact costs and production, a generalized model was developed to better understand how this system works on any ranch. These results indicate by optimizing land to its fullest capacity for dry matter, one can then maximize profits generated. This research found the profitability of employing an irrigation system is beneficial even at lower production yields when compared to land with no irrigation system.","PeriodicalId":43552,"journal":{"name":"Journal of Applied Economics and Business Research","volume":"139 1","pages":""},"PeriodicalIF":1.3,"publicationDate":"2023-06-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"87578126","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":"Effects of Occupational Licensing on DACA Recipients: A Synthetic Control Approach","authors":"","doi":"10.33423/jabe.v25i2.6094","DOIUrl":"https://doi.org/10.33423/jabe.v25i2.6094","url":null,"abstract":"","PeriodicalId":43552,"journal":{"name":"Journal of Applied Economics and Business Research","volume":"18 1","pages":""},"PeriodicalIF":1.3,"publicationDate":"2023-06-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"88820437","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 Information Asymmetry on the Relationship Between Board Characteristics and Capital Structure","authors":"","doi":"10.33423/jabe.v25i1.5985","DOIUrl":"https://doi.org/10.33423/jabe.v25i1.5985","url":null,"abstract":"","PeriodicalId":43552,"journal":{"name":"Journal of Applied Economics and Business Research","volume":"14 1","pages":""},"PeriodicalIF":1.3,"publicationDate":"2023-02-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"78442014","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":"Nigeria’s Food Prospects in 2050: A Back-of-the-Envelope Calculation","authors":"","doi":"10.33423/jabe.v25i1.5862","DOIUrl":"https://doi.org/10.33423/jabe.v25i1.5862","url":null,"abstract":"","PeriodicalId":43552,"journal":{"name":"Journal of Applied Economics and Business Research","volume":"217 1","pages":""},"PeriodicalIF":1.3,"publicationDate":"2023-02-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"79682361","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}