Dr. Chun-Chien Kuo
Department of International Business, National Taipei University of Business, Taiwan.


ISBN 978-93-5547-407-0 (Print)
ISBN 978-93-5547-408-7 (eBook)
DOI: 10.9734/bpi/niebm/v4


This book covers key areas of  Economics, Business and Management. The contributions by the authors include social event, business model, circular economy, industry hack, smart solution, gamification, ECOWAS treaty, food trade, openness index, trade index, social protection, economics, economic disruptions and agricultural inefficiency, expanded public works programme, macroeconomic variables, stock markets development, panel data analysis, globalization,  advanced economies, diversification, product diversification, geographic diversification, capital markets, information asymmetry, balanced scorecard, applied strategic analysis, comparative assessment, variance diagnostic, Corporate social responsibility, physical and natural capital assist, livelihood strategies, fangoa cluster communities, corruption perception index, investment policy, world economy, global investment, shadow economy, growth drivers, retail industry, emerging trends and amalgamation of firms, consumer behavior. This book contains various materials suitable for students, researchers and academicians in the field of  Economics, Business and Management.


Media Promotion:


In developed countries, companies face constant growing legal enforcement and pressure from governments and local municipalities to become more environmentally friendly. Nowadays, sustainability is a business advantage and a clear competitive edge as an integral part of some front- line companies’ business models too [1-3]. In this complex environment, several options are available for companies to become more sustainable in terms of their services and products, operative actions and business models. For example, this can be achieved by reducing income inequality [99] and minimizing the negative environmental impact [4]. Companies can hire expensive consultants and study step by step guidebooks for making less waste and running their operations more environmentally friendly, or they can innovate and jump new level of sustainable production. In the innovation strategy, different organizations typically do collaborate with higher education institutions, with the goal to acquire and implement new sustainable solution seeds for the business operations. Such collaborations exist in the form of hackathons, code camps and similar events which have been proven to be powerful and successful sources of innovation seeds. The study objective was to map different strategies in hackathon event collaboration to achieve better results in sustainability matters in company – university collaboration relationship. This study is based on published materials and experience-based evidence of successful creation of new business ideas by several companies in Russia, Finland and Estonia. In addition to the gained sustainability in operations, the companies have also minimized energy consumption and reduced own and their customers COemissions and carbon footprint.

Study on the Impact of Ecowas Treaty on the Dynamics of Food Trade among Ecowas Member States

Olalekan Ibitoye

New Innovations in Economics, Business and Management Vol. 4, 5 January 2022, Page 30-51

The study analysed the impact of ECOWAS treaty on the dynamics of food trade among ECOWAS member states. The specific objectives of the study were to: assess the effects of ECOWAS treaty on food trade among Member States; estimate the actual and potential level of food trade in the ECOWAS region; determine the comparative advantage of each ECOWAS country in food trade within the region; and to evaluate the level of food trade diversification in the ECOWAS region before and after the treaty. The study used secondary data which covered a period of 49 years between 1970 and 2018. Overall Openness Index, Intensity of Trade Index, Indicative Trade Potential index, the Revealed Comparative Advantage Index, Herfindahl index and the paired sample t-test were the analytical techniques employed to achieve the objectives of the study. The study revealed that countries of the region are fairly open to food trade but the smaller countries (in terms of economic mass), are more open to trade than the larger economies. The regional trade intensities (both on the export and import side of food trade) for all the member states were higher after the region became a free trade area (FTA). However, countries of the region are yet to fully exploit their potentials in food trade within the region; and between 1970 and 2018, food export by all the member countries represented only 5.0% of the ECOWAS regional trade. It was concluded that a significant difference (p = 0.046) still exists between the actual and potential level of food trade, while food trade diversification has significantly increased (p = 0.009) after the treaty within the region. Therefore, ECOWAS treaty has impacted positively on food trade within the region. It was recommended that policy reforms that will promote intra regional food trade should be facilitated in all the ECOWAS Member States. 

Income and Employment Pattern of MNREGA Programme in District Sant Kabir Nagar: A Recent Study

Ambrish Kumar Verma, Bhartendu Yadav, Anil Sachan, Akash .

New Innovations in Economics, Business and Management Vol. 4, 5 January 2022, Page 52-58

The study was conducted using purposive cum random sampling procedure and seventy-five respondents were selected from a block of district. The data collected through personal interview method were classified, tabulated and analysed in the light of objectives of the study. MGNREGA is a beneficiary scheme, improving socioeconomic face of the maximum rural households in the research area selected. Most remarkable feature of MNREGA is that it pays women the same as men, something that was virtually unimaginable in rural India.  It is seen that majority of the respondents are enjoying the income and employment rewards from the scheme and are further seeking it in the future. The wages provided and works assigned are found satisfactory to the households and MGNREGA is enhancing livelihood security in the study area.

Study on Economics of Corruption; Implications for Economic Disruptions and Agricultural Inefficiency in Nigeria

E. E. Osuji, A. C. Tim-Ashama, C. C. Ibekwe, J. N. Obi, E. U. Eze, U. A. Essien, C. L. Njoku

New Innovations in Economics, Business and Management Vol. 4, 5 January 2022, Page 59-66

Corruption is a socio-economic phenomenon which has eaten deep into the fabrics of the Nigerian economy and thus adversely affecting various sectors of the economy and most importantly the agricultural sector which is being rendered comatose, thus study on economics of corruption; implications for economic disruptions and agricultural inefficiency in Nigeria were reviewed. Causes of corruption in Nigeria include; poverty, greed, self-interest, insatiable wants, covetousness, quest to power, etc. Income inequality, bureaucracy: job insecurity, inordinate societal values, etc were its economic indices. Economic consequences of corruption in Nigeria range from slow pace of economic growth, increase in investment costs, decrease in gross domestic product, effects on employment, balance on payment effects, etc. Eradicating corruption in Nigeria calls for serious concerns and following the recommendations such as; increase in cost of corruption, elimination of corruption incentives, provision of basic needs, job security, etc. Corruption in Nigeria will be a thing of the past.

The Expanded Public Works Programme’s Entrepreneurial Support Model in South Africa

Lungisani Dladla, Emmanuel Mutambara

New Innovations in Economics, Business and Management Vol. 4, 5 January 2022, Page 67-78

Across the world, small-and medium-sized enterprises (SMEs) have been the driving force behind job creation and economic development. To reduce the massive rate of unemployment, poverty and inequality in the country, the Government of South Africa introduced various initiatives to stimulate and support small businesses, the Expanded Public Works Programme (EPWP) is one of those initiatives. The enterprise development approach, is one of the delivery mechanisms of the EPWP. This study aimed at critically assessing the impact and effectiveness of training and support interventions provided to small businesses through the EPWP. The study employed the quantitative research method and due to the size and availability of participants, the entire population supported by the EPWP was sampled and a questionnaire-based survey was conducted. The study denoted that the training intervention provided through the EPWP made a positive impact and achieved its intended goals of enhancing business management skills to participants. It also revealed an interesting outcome that the majority of the participants in the programme were women. However the study also identified some weaknesses in the programme which led to the recommendation that long-term support mechanisms were essential to ensure sustainability of emerging enterprises.

Macroeconomic Determinants of Stock Market Development: Evidence from Panel Data Analysis

Faycal Chiad, Hamoudi Hadj Sahraoui

New Innovations in Economics, Business and Management Vol. 4, 5 January 2022, Page 79-88

Arab stock exchanges have experienced tremendous growth in recent decades, with an increase in the number of listed companies and the size of stock market capitalization. In light of this remarkable growth, the purpose of this research is to determine the most important determinants and economic factors influencing this development from 2006 to 2017. Using panel data models, we discover that trade openness, market liquidity, money supply, and economic growth all have positive effects on stock market development, while the global financial crisis has a negative effect. Based on these findings, steps should be taken to improve market liquidity, maintain a balanced economic growth rate, and promote the development of Arab stock exchanges. Based on these findings, policy recommendations are made.

The purpose of this paper is to provide insights into how the proliferation of globalization has impacted labor markets both in a advanced industrialized nations and well as developing nations. The rate of globalization has increased at a phenomenal rate. During the past 50 years we have seen many governments that have progressively eliminated policy barriers to trade. The elimination of these barriers to has led to a decrease in both the transportation cost and the telecommunication cost. The study yields the results that, “tariff cuts and increase in trade rise the wage premium in…technology intensive. Meanwhile, the wage premium exists in Malaysia between exporters and non-exporters.

The Effect of Financial Drivers on Product and Geographic Diversification for Listed and Unlisted Firms

Maurizio La Rocca, Tiziana La Rocca, Francesco Fasano

New Innovations in Economics, Business and Management Vol. 4, 5 January 2022, Page 96-103

This paper investigates whether free cash flow arguments or internal capital market perspective explain product and geographic diversification decisions. Using a unique panel of hand-collected data from Italian firms (listed and unlisted) for the period 1980-2010, the results reveal, as a net effect, the predominant role of the internal capital market arguments, especially relevant for the decision to diversify unrelated and for unlisted firms.

The author proposes theoretical and methodological aspects of the applied strategic analysis as a modern instrument of the balanced scorecard comprehensive study of the organization economic activity. The applied strategic analysis concept has resulted from the further development of the balanced scorecard concept which defines a set of the analyzed indicators and the analysis sequence. Such are the main applied strategic analysis objectives: comparative evaluation of the balanced scorecard data, diagnostics of the balanced scorecard data divergence and forecast of the balanced scorecard data. All the objectives are closely interrelated, as every coming problem entails from the previous one. The principle of the applied strategic analysis implementation, a deduction principle, is understood as a research, firstly, of the general balanced scorecard indicators, then – specific ones. The basic applied strategic analysis applications are as follows: analysis of financial data, analysis of customers’ data, analysis of the internal business processes data and analysis of the personnel training and development. The results can be applied for long-, middle- and short-term managerial decisions development in the field of the economic organization activity. The methodical instruments of the applied strategic analysis includes methods of absolute, relative and average values, comparison, grouping, graphical and table methods, correlation-regression analysis, factoring analysis, cluster analysis, as well as expert evaluation method. The conclusion is drawn that the applied strategic analysis is a new and sufficiently effective tool to research strategic aspects of the organization economic activity and to form an analytical support for the strategic management in the present-day economic environment.

Livelihood Development through Kenena Sugar Company’s CSR Case study of Fongoga Cluster Community

Hind Bushra Ahmed Ibrahim, Ali Mohayad Bannaga

New Innovations in Economics, Business and Management Vol. 4, 5 January 2022, Page 120-129

The present study indicates that livestock ownership is primarily restricted to resident households who own limited numbers of small ruminants and poultry that nevertheless give sales to pay for food and medical expenses. Corporate social responsibility (CSR) backed to strategies corporations of firms or company conduct their business in a way that is ethical, society friendly to community in terms of development. This paper highlights to the role of Kenena Sugar Company’s CSR in community development on Fongoga Cluster community. Primary data was collected using a questionnaire designed to cover all study aspects in open and closed-ended questions filled in face to face interview session..42 households participated in the study. Analyses, show there have been positive outcomes to the livelihoods of some of the households as a result of company intervention and its operations in the studied community.

Global Impacts of Corruption Perception Index for the Attractiveness of Foreign Direct Investment

Ikboljon Odashev Mashrabjonovich

New Innovations in Economics, Business and Management Vol. 4, 5 January 2022, Page 130-142

The article examines the correlation between the index of corruption perception and the index of the attractiveness of foreign direct investment in the formation and implementation of state investment policy and the impact of development projects of countries that carry out analytical formulas of multiple regression. And we recognize some important drivers and factors of modelling the problems of foreign direct investment, which associate with attracting into the economy, increasing the attractiveness of its development. At the main part of the investigation, it interpreters of econometric modeling of between the corruption degrees of selected countries and the attractiveness of foreign direct investment. The real examples are given related to corruption and foreign direct investment studied by different scientists of the world. The task is set on how it will determine how much corruption in the world will affect the attractiveness of foreign investors by selected countries.

Amalgamation of Small Firms Given Boost to the Retail Sector in Saudi Arabia

Mohammad Naquibur Rahman

New Innovations in Economics, Business and Management Vol. 4, 5 January 2022, Page 143-160

The present book chapter brings systematically focus the prospects of organized retailing in Saudi Arabian market, its growth drivers and comprehensive outcome analysis. The basic objective of the present chapter is to find out and develop a co-relation taking place between organized retailing in KSA and growth drivers thereof. The GCC retail industry is poised for a healthy growth in Middle East and KSA. Therefore, it can be said that the amalgamation (M&A) is a great way to grow Saudi Arabian business without having to wait long years. It aims at observing growth of Saudi Arabian retail market like Carrefour, Panda Bin Dawood Al Marai, Sadafco, Aujan Beverages ltd and Savola etc. However, there are many obstacles to the growth and implementation in the retail market. Many factors affect the retail sector including Saudi Arabia, UAE and over all GCC. Rapid transformation of new industries into a larger industries and new ideas, innovations as well as strategies are playing a pivotal role in bring a shift new global business model as a merger & acquisition. As a result of amalgamation of small firms into larger firms is taking place with rapid growth e.g., Coca Cola took over the Aujan Soft drinks; Al-Marai to Riyadh Laben; similarly Western bakeries, International Baking service, Hadco have passed through the same stages of amalgamation. The Savola group of companies took over Geant hypermarket and Giant hypermarket in Riyadh. The present book chapter emphasized and point out at new emerging trends and retail space after the inflow of organized retailing in KSA. make a dynamic impact on organized retailing in KSA. Furthermore, it is observed that M&E or amalgamation can be seen very clearly in Saudi Arabia retail market.

Pain of Paying and Different Payment Paradigms

Nimmy Lovely George, M. Rakesh Krishnan

New Innovations in Economics, Business and Management Vol. 4, 5 January 2022, Page 161-167

The experience of purchasing goods and services is a regular part of people's lives. The purchase process involves consumption and payment. The pleasure of acquiring a product or service is often overshadowed by the pain of parting with money. The concept of "pain of paying" states that when a customer pays for a product or service, he or she feels emotions related to the purchase. The study aims to present a comprehensive literature review on pain of paying and develops a conceptual model from existing literature to build a clear understanding of the construct. The model identifies varying levels of pain of paying in different circumstances. The purpose of the research review is to encourage more study on the notion of pain of paying to increase knowledge of the concept and the impact of experiencing this emotion on various consumer behaviours and decisions.

Determining the Relationships between Factors Affecting Adolescents’ Happiness in OECD Countries

Young-Chool Choi, Ji-Hye Lee, Ji-Hyun Jang

New Innovations in Economics, Business and Management Vol. 4, 5 January 2022, Page 168-181

The goal of this research is to look into the causal linkages between major educational parameters and teenage happiness, as well as to make policy recommendations for how 20 OECD countries might improve their levels of adolescent happiness. The HBSC score of adolescents from 20 OECD countries was selected as an indicator for happiness, and a number of independent variables such as per capita GDP and per capita educational expenditure were included in the analysis. A structural equation model was employed for the analysis. Per capita educational expenditure, educational decentralisation level, number of pupils per teacher, and other variables were found to have a direct impact on happiness in the study. The greatest influence was exerted by per capita educational expenditure. Of the paths to adolescent happiness, those that contained a significant indirect effect were “per capita GDP \(\longrightarrow\) per capita educational expenditure \(\longrightarrow\) happiness” and “educational decentralization \(\longrightarrow\) number of students per teacher \(\longrightarrow\) happiness”, which were significant at the level of< 0.05. Compiling the paths toward adolescent happiness focusing on the significance of these direct and indirect effects shows that the “per capita GDP \(\longrightarrow\) per capita educational expenditure \(\longrightarrow\) happiness” path has the greatest effect.