Business, Management and Economics - Research Progress Vol. 1

A management system of which financial planning is one type is effective, if it triggers employees’ reactions in the direction that will promote the achievement of enterprise goals and objectives. To a greater extent, enterprise survival and goal achievement depend on the management systems, financial planning and employees’ reactions. The management system (authoritarian or humanistic) portrays the firm as a composite entity of the goal-setting machine (top management) and the goal-achieving machine (employees, subordinates inclusive). Admittedly, the type of management system and its associated financial planning strategy have a significant effect on the life of any firm. This is because the goal of the organization (for the period the financial plan covers) is contained in the financial plan. This book chapter adopts historical and descriptive research methods. Goals must not only be set in the financial plan but strategies must be evolved to achieve the goals. A financial plan (autocratic or participatory) expresses the expectations of the enterprise from its members and also specifies the employees’ duties and rights (if any) for that period. Financial planning refers to the process of estimating the funds requirements of an enterprise and determining the sources of funds. Financial planning, therefore, is a useful strategy for enterprise goal achievement. This book chapter is necessitated by the unconcerned attitude of enterprise management toward current works of research in modern management systems, motivational theories of financial planning and employee behaviour. Available accounting, finance and business literature support the assertion that authoritarian management systems and their associated financial planning strategies do not always work. Rather than bringing improved performance, such a system generates anxiety, mistrust, interdepartmental strifes, quarrels with financial staff, demotivation, corrupt practices, poor productivity and other dysfunctional attitudes and behaviours that are inimical to enterprise growth and survival. On the contrary, the humanistic management system relative to its financial planning strategy triggers employees’ morale, motivation and productivity. The humanistic management system is employee-centred and has gained a great deal of support in the literature of business management. Such a system boosts corporate existence and enhances continued goal achievement. This system is believed to serve as a panacea: a cure for all the many ills associated with the authoritarian management system and its associated financial planning strategy.

This paper investigates the impact of capital structure on the financial performance of commercial banks in Ghana for the period, 2008-2022. The methodology involves a robust analytical framework using econometric models, particularly the Panel Autoregressive Distributed Lag (P-ARDL) regression model enabling a thorough examination of the complex interactions between capital structure and bank performance. Spanning five listed banks over a 15-year period for which consistent data is available, panel-data econometric modelling was used to accommodate individual heterogeneity. The findings reveal a significant long-run positive impact of capital structure on financial performance, suggesting that optimal capital structure can enhance bank performance in the long run. In the short run, capital structure contemporaneously and sluggishly impacts ROA negatively, but with only a weak negative sluggish effect on ROE. The results further highlight the significant long-run detrimental effect of bank size and the robust positive long-run effect of bank growth on the financial performance of banks. The paper recommends a strategic focus on optimising capital structure to enhance the long-run financial performance of Ghanaian commercial banks thereby underscoring the importance of considering internal factors in capital structure decisions. This study contributes to the global discourse on capital structure, offering fresh perspectives from an underdeveloped economic context.

The concept of price conformity, the relative similarity between a product's price and the predominant market price, has attracted attention in consumer research. However, there remains a gap in research for understanding how consumers perceive price conformity and how that perception impacts their behavior. This study investigates the influence of price conformity on consumer perceptions, particularly in the context of luxury clothing purchases. Using insights from studies on social conformity and of the consumer groups themselves, this paper will analyze six distinct consumer types and their responses to different pricing strategies. The paper’s findings suggest that individuals driven by status seek exclusivity and perceive higher prices as indicative of desirability. Conversely, those inclined towards conformity tend to adhere to established pricing norms. Notably, individuals with a patrician mindset may exhibit indifference towards price conformity, suggesting that pricing holds minimal sway over their preferences. These insights offer valuable guidance for marketing practitioners, enabling them to tailor their strategies to specific consumer demographics and preferences.

We introduce the Psychoeconomics of Healthcare Decisions, a novel interdisciplinary field that combines psychological and economic insights to understand the "why" behind our medical choices. This field explores the intricate web of psychological factors, economic considerations, and individual behaviors that influence healthcare decision-making. By examining the impact of cultural contexts and socio-economic environments, Psychoeconomics of Healthcare Decisions aims to provide a deeper understanding of patient choices. This manuscript outlines the goals and methodologies of this emerging field, highlighting its potential to revolutionize healthcare delivery through improved patient education, informed policy decisions, and enhanced preventive care utilization and treatment adherence. Practical applications, such as case studies on framing effects and shared decision-making, demonstrate how this knowledge can improve public health outcomes.

Modern financial theory, commonly known as portfolio theory, provides an analytical framework for the investment decision to be made under uncertainty. It is a well-established proposition in portfolio theory that whenever there is an imperfect correlation between returns risk is reduced by maintaining only a portion of wealth in any asset, or by selecting a portfolio according to expected returns and correlations between returns.

The major improvement of the portfolio approaches over prior received theory is the incorporation of (a) the riskiness of an asset, and (b) the addition from investing in any asset.

Building an investment portfolio is a problem that numerous researchers have addressed for many years. The theme of this paper is to discuss how to propose a new mathematical model like that provided by Markowitz, which helps in choosing a nearly perfect portfolio and an efficient input /output. Besides applying this model to reality, the researcher uses game theory, stochastic and linear programming to provide the model proposed and then uses this model to select a perfect portfolio in the Cairo stock exchange. Game theory is a mathematical framework that is used to study decision-making in situations of strategic interaction. The results are fruitful and the researcher considers this model a new contribution to previous models. The target of this proposed model is achieved, as the risks increase by expanding the size of the portfolio because of the positive direct relationship between risks and returns.

The study aims to analyse the employment spillover effects of ICT in the non-ICT industries. For the empirical analysis, the Pooled Mean Group (PMG) model was used to account for the short- and long-run effects of ICT investment on the employment growth of agro-processing industries (i.e. non-ICT industries). The analyses were conducted in a multivariate setting to establish whether labour productivity and output growth effects of ICT investment would spill over to employment growth in those agro-processing industries that invested in ICT more intensively. The findings showed that the labour productivity and output growth effects of ICT investment would be realised in the long run and such effects would spill over to employment growth of the industry group that invested more in ICT. Two implications can be derived from these findings. First, the effects of ICT on employment growth differ according to the intensity of ICT investment, such that employment spillover effects of ICT would be realised by the agro-processing industries that invested in ICT more intensively. Second, such effects would be realised in the long run, suggesting that it would take longer for the returns on ICT investment to be realised. Therefore, policymakers should prioritise the agro-processing industries that are more ICT-intensive for ICT-related investments. Such investments should be undertaken over the long term, as the returns on ICT investment take time to materialise.

In India, 8 million women entrepreneurs are there and its proportion is more in Karnataka which is contributing to a greater extent towards rural development. A female entrepreneur is a person who takes on difficult roles to meet her personal needs and become economically independent. A country’s regional economic development is defined by its Entrepreneurial activities. They are the dominant determinants for job creation and uplifting the quality of life. Entrepreneurship, particularly women entrepreneurship is gaining greater significance across the globe and in India. With the rising economy, the number of women entrepreneurs is also increasing steadily. The definition of women entrepreneurship, in a larger sense, refers to women who take the risk and challenge to meet their personal needs and at the same time to become economically self-sufficient. The Present study focuses on empowering the rural women in the rural district of Karnataka. Located in the southwest region of Bengaluru, the geography encompasses four taluks with a population of 10.82 lakhs (Source: 2011 census). It is based on secondary data from books, journals, articles, websites and government reports. This study identified the status of women entrepreneurs in Ramanagara district and their valuable contribution to sustainable rural economic growth. The paper also focuses on the future scenario of women entrepreneurs and government initiatives to make them more invincible. This study reveals several strategies for empowering rural women.

Effective service recovery is pivotal in most service industries, and despite much research, how to manage recovery after service failure remains a central question in service research. Understanding customer loyalty remains one of the most important and intangible competitive advantages for any service provider. This study examined whether the relationship between service recovery and customer loyalty was statistically significant, and examined the influence of firm responses on customer loyalty. A descriptive cross-sectional survey and stratified random sampling were used to produce a sample of 384 phone subscribers. The primary data for the study was collected from Makerere University mobile telephone subscribers (students and staff) using a semi-structured, self-administered questionnaire. The pilot study established the reliability and validity of the questionnaire and tested for parametric assumptions performed. Descriptive statistics and inferential statistics (factor analysis, correlations, and regression tests) were used to analyze the data. Results indicated that these relationships were all positive and statistically significant. Moreover, the combined impact of service recovery, firm responses, and service quality on customer loyalty was the strongest. Based on the findings, policymakers, and managers of mobile phone companies in Uganda should focus more on service quality, which showed the highest beta values and had a relatively high predictive value for customer loyalty. This study contributes to the extant literature by illuminating firms’ responses to service recovery, by offering more explicit clarification of the relationship between service recovery, firm responses and customer loyalty. Mobile phone companies should improve how customer complaints are handled by considering the various dimensions of firm responses. Because of the study’s cross-sectional design, there remains a need to expand our knowledge by conducting similar but longitudinal studies. Future studies should explore the following: service recovery, customer satisfaction and sales performance in the health sector in Uganda.