Open Access Short Research Article
This study examines the effect of oil and gas resource rent on economic growth of Ghana for the period of 2007 to 2019. The study uses the bounds test approach to cointegration within the framework of autoregressive distributed lags model as the estimation strategy. The results from the study revealed that oil resource rent had a negative and significant relationship with economic growth of Ghana. However, gas resource rent had a positive impact on economic growth of Ghana. Furthermore, the study also found that foreign direct investment and exchange rate had significant positive relation with economic growth of Ghana respectively. For government expenditure, it exerts a negative impact on economic growth of Ghana. Based on the negative and significant relationship with oil resource rent and economic growth of Ghana, it is recommended that the government should reduce taxes on oil industries to help increase the production of oil and gas in Ghana. Furthermore, the study recommends Government and private partnership to ensure effective management of exchange rate fluctuations in Ghana.
Open Access Original Research Article
Aims: The GDP growth of Indian Economy had touched the six year low in the first financial quarter of April-June 2020. It touched 5.8% growth in January-March, although in nominal terms India’s GDP grew by 7.99% which is also lowest. This paper amid at studying the impact on key sectors bearing the brunt of Indian Economy slowdown is Agriculture, Automobile, Real Estate, and FMCG among others.
Study Design: Secondary data is used for the present study. The dependent variable in the study is GDP components and sectors are considered independent variables.
Place and Duration of Study: The data has been collected for the period 2015 to 2019. Data is related to contribution of sectors to Indian GDP is considered.
Methodology: GDP is measured by a number of components but in this study only Agriculture, Manufacturing, Construction, Mining, Public Administration and Utilities sectors, were selected as major components for the period selected for the study. Correlation and Multiple regressions have been used to analyze the collected data.
Results: Coefficient of agriculture parameter tells dependability of agriculture sector on GDP. Simultaneously manufacturing, public administration and utilities have positively dependability on GDP. Whereas mining sector that tells about no dependability of mining sector on GDP.
Conclusion: There is a significant relationship between correlation values of agriculture, construction, manufacturing, mining, public administration and utilities with GDP. So, null hypothesis has been rejected.
Open Access Original Research Article
After the implementation of Fiscal Responsibility and Budget Management (FRBM) Act in India, a debate has been started among the economists as to the relevance of the deficit cutting strategy. The objective of the study is to analyses the emerging trends of central government’s major deficit indicators viz., fiscal deficit, revenue deficit and primary deficit in Indian economy from 1980-81 to 2015-16. The study period has been divided into three sub-periods i.e. pre-liberalisation period (from 1980-81 to 1990-91), post liberalisation period till FRBM Act (from 1990-91 to 2002-03) and the post Fiscal Responsibility and Budget Management (FRBM) Act (from 2003-04 to 2015-16) in reply to the worldwide financial crisis and succeeding return to a fiscal consolidation path. The exponential model has been fitted to the time series data for estimating compound annual growth rate (CAGR) of fiscal indicators. The compound annual growth rate has been estimated for The finding point out that the crisis led to the burgeoning of the government deficit to unsustainable levels and encouraged the government to initiate and adopt economic reforms during the study period 1980-81 to 2002-03 and also ensure that the deficit stood at more reasonable levels. On the other hand, the central government has been more proactive and has undertaken fiscal policy reforms to ensure a steady reduction in deficit indicators of central government leading to a more resilient economy after the implementation of FBRM. The study suggested that for fiscal reforms to succeed, continued high economic growth is a prerequisite which in turn requires strong social and economic infrastructure.
Open Access Original Research Article
Integrated reporting (IR) is an emerging field of corporate reporting devised for corporate entities to ensure sustainable value creation in the short, medium and long term. The major thrust of this paper therefore was to determine the extent of the adoption of integrated reporting principles and practices as contained in the framework by quoted firms in Nigeria. Due to paucity of data from reporting entities on the implementation of integrated reporting, a documentary combined with descriptive research approach was adopted. Sample size was determined using the purposive random sampling method, which led to the selection of one (1) critical company from each sector making a total of twelve (12) companies quoted in the Nigerian Stock Exchange. This study will provide a new and deep introspection for companies intending preparing and presenting integrated reports and those already doing so. The result of the tested hypothesis shows a significant f-value of .65 (P-value = .089 > .05); thus leading to the acceptance of the null hypothesis. This indicates that there is no significant evidence of integrating reporting adoption and practice by quoted companies in Nigeria. This result is due possibly to the recency of integrated reporting disclosures and the lack of legislative framework to support it in Nigeria. Predicated on the result, it was recommended that companies quoted on the Nigerian Stock Exchange should be enlightened and motivated to adopt the integrated reporting principles and practices as this will promote the accountability and transparency framework of the firms. In addition, the full adoption of integrated reporting frameworks should be made one of the key requirements for companies to be listed on the Stock Exchange.
Open Access Review Article
Various recently-introduced applications of artificial intelligence (AI) operate at the interface between businesses and consumers. This paper looks at whether these innovations have relevant implications for marketing theory. The latest literature on the connection between AI and marketing has emphasized a great variety of AI applications that qualify this relationship. Based on these studies but focusing only on the applications with a direct impact on the relationship at the very heart of marketing, i.e., the one between firms and consumers, the paper analyzes three categories of AI applications: AI-based shipping-then-shopping, AI-based service robots, and AI-based smart products and domestic robots. The main result of this first analysis is that all three categories have to do, each in their own way, with mass customization. A discussion of this common trait leads us to recognize their ways to mass customization that – unlike the traditional approach developed thanks to flexible automation and product modularity technologies – place the customization process within a broader perspective of consumer needs management. This change in approach means that marketing should focus more on managing consumers’ needs than directly on the satisfaction of those needs. This finding marks a genuine discontinuity that opens up a new space for reflection for scholars and marketing managers alike.
Retraction Notice: This paper has been retracted from the journal after receipt of written complains. This journal is determined to promote integrity in research publication. This retraction is in spirit of the same. After formal procedures editor(s) and publisher have retracted this paper on 10th November-2020. Related policy is available here: http://goo.gl/lI77Nn