Open Access Original Research Article

Government Expenditure and Economic Growth in Lower Middle Income Countries in Sub-Saharan Africa: An Empirical Investigation

Kenneth O. Diyoke, Abubakar Yusuf, Erkan Demirbas

Asian Journal of Economics, Business and Accounting, Page 1-11
DOI: 10.9734/AJEBA/2017/38552

The aim of this study is to investigate the impact of government expenditure on economic growth in some selected countries in Sub-Saharan Africa (SSA). The study besides focusing on the lower middle income countries in the region such as Cape Verde, Cameroon, etc.; it further examined the significance of oil receipts on growth via public expenditure. As a result, oil exporting countries were entered as dummies. The period of the study spanned from 1980 to 2015. Gross domestic product per capita was used as a proxy of growth; while general government expenditure (totals), investment (totals) and interest rate were used as regressors instrumenting oil exports. The study employed both static panel and Arellano and Bond (1991) GMM estimators. Results found long run relationship amongst the variables used in the study. Government expenditure, investment and oil exports were equally found to have impacted on growth in the region. Although, government expenditure has not contributed positively to economic growth in the region as it was negatively signed. Therefore, the study recommends that government expenditure should be properly disaggregated as a matter of priority between capital and recurrent expenditures in order to carefully situate its role on growth.

Open Access Original Research Article

The Influence of Knowledge Management Factors on Knowledge Management Practices: Special Reference to the Licensed Commercial Banks in Trincomalee District

R. Kishokumar

Asian Journal of Economics, Business and Accounting, Page 1-10
DOI: 10.9734/AJEBA/2017/37879

Today, organizations are reaping huge benefits by aligning Knowledge Management with business strategy and utilizing it as the mean to improve core business processes. A growing number of studies have been done regarding the factors affecting the knowledge management process from the employee’s perspectives, while very few studies have been conducted to explore the impact of knowledge management factors on knowledge management practices. In order to fill the empirical knowledge gap, this particular study was initiated with three objectives in the context of licensed commercial banks in Trincomalee District. The main objective of this study is to examine the influence of knowledge management factors on knowledge management practices. Furthermore, conceptual model has been developed to link knowledge management factors and knowledge management practices. Transformational Leadership, Organizational Culture and Information Technology are considered as the measurement variables of knowledge management factors. Meanwhile knowledge management practices are measured by Knowledge Creation, Knowledge Sharing, and Knowledge capturing and acquisition. In this study, a survey research design was used and data were collected through questionnaire from 150 employees of licensed commercial banks in Trincomalee District. These data were analysed by using multiple regression analysis. The findings of this study indicate that knowledge management factors and knowledge management practices are of high importance in licensed commercial banks and this study confirms that the knowledge management factors significantly influence knowledge management practices. Therefore, Favorable Transformational Leadership, Organizational Culture and Information Technology factors could lead to better knowledge management practices and contribute to organization’s success and achieve win-win situation. Hence organizations should strength their knowledge management factors to improve knowledge management practices.

Open Access Original Research Article

Impact of Japanese Foreign Direct Investment on the Economic Growth of South Africa

Njangang Ndieupa Henri

Asian Journal of Economics, Business and Accounting, Page 1-8
DOI: 10.9734/AJEBA/2017/38990

The main purpose of this paper is to investigate the impact of Japanese foreign direct investment on the economic growth of South Africa over the period 1996-2016. The study employed the Autoregressive Distribute Lagged (ARDL) bound test to investigate the long-run relationship between the study variables. The results show that Japanese foreign direct investment has a direct positive and statistically significant effect on South Africa economic growth. In policy terms, the government of South Africa should sustain the institutional reform policy agenda already in place in order to benefit more from the significant inflows of Japanese foreign direct investment.

Open Access Original Research Article

Tourists Perceived Festival Attraction, Service Quality, Perceived Value and Loyalty-Case Study Penghu Ocean Firework Festival in Taiwan

Hsiao-Ming Chang, Chin-Lung Chou, Wen-Chih Yen

Asian Journal of Economics, Business and Accounting, Page 1-10
DOI: 10.9734/AJEBA/2017/38899

The purpose of this study is to understand the relationships between attraction, quality of service, perceived value and loyalty. In this study, a total of 456 effective questionnaires were collected by convenience sampling. Through the descriptive statistics and partial least squares (PLS) statistical analysis, the research results show that the attraction, service quality and perceived value of festival activities have a predictive effect on the loyalty to the tourists in the destination. According to the results, the research not only gave the suggestions for the government tourism sectors, but also provides the direction for the future research.

Open Access Original Research Article

Temporal Dimension & Risk Dynamics of the Seasoned Equity Offerings

Clifford Gambo

Asian Journal of Economics, Business and Accounting, Page 1-6
DOI: 10.9734/AJEBA/2017/38564

Trading is a complicated temporal system with many time-related procedures and functionalities, like SEOs (NYSE companies), price action breakouts (technical analysis), etc. These temporal features could lead to profitable trading strategies with significant returns. The primary target of this article is a "read-the-tape” concept. In particular, the article has empirically tested Baron’s data involved in NYSE SEO initiatives and then proposes temporal tactics for trading the NYSE SEOs. Statistical data analysis shows that, during the seasoned equity offerings, any shareowners significantly increase their shareholding; so, the market volatility is increased offering great return opportunities. The article concludes that, in NYSE SEO trading, the insiders are profit at the cost of hedge funds, momentary traders, and intraday speculators. Finally, the presented paper is not a complete trading system or even a proposed methodology; it is just a contribution to financial literature by examining empirically the temporal functions involved in NYSE SEOs initiatives, under the prism of the trading activities and their return functionalities.