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1 – 4 of 4The phenomenal proliferation of crowdfunding platforms raises concerns on the heightened occurrence of financial crimes since billions of funds are exchanged through these online…
Abstract
Purpose
The phenomenal proliferation of crowdfunding platforms raises concerns on the heightened occurrence of financial crimes since billions of funds are exchanged through these online systems frequently. Accordingly, some countries have implemented legislative responses to address these risks, although each countries’ laws have varying degrees of severity. Hence, the purpose of this study is to assess the efficiency and robustness of Mauritian laws to combat financial crimes that may arise from a crowdfunding transaction with a particular emphasis on money laundering and tax evasion.
Design/methodology/approach
To achieve this research objective, the black letter approach was used to analyse Mauritian rules and regulations on the researched topic and a comparative analysis was carried out against the corresponding laws on crowdfunding in some other jurisdictions, notably the UK and the USA with the view of suggesting the policy recommendations to Mauritian authorities.
Findings
It was found that there is still scope for improving the existing legal and regulatory framework on crowdfunding in Mauritius to prevent instances of money laundering and tax evasion. The paper suggests that a crowdfunding operator must be categorised as a reporting person and must carry out regular due diligence checks. There must also be more collaboration in terms of information exchanges and training sessions among the tax authority of Mauritius, crowdfunding operators, fund seekers and investors to shed light on the tax treatment of income and deductions to avoid issues of tax evasion.
Originality/value
At present, to the best of the authors’ knowledge, this study is amongst the first academic writings on the efficiency of Mauritian laws in dealing with the risk of financial crimes through crowdfunding, and also, because existing literature is quite scarce on assessing the adequacy of crowdfunding rules in developing countries, this research aims at filling in the gap in literature. The study is carried out with the aim of combining a large amount of empirical, theoretical and factual information that can be of use to various stakeholders and not only to academics.
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Shahla M. Wunderlich and Charles H. Feldman
The purpose of this short communication is to shed light on the accuracy of quantification methods of household food waste (HFW).
Abstract
Purpose
The purpose of this short communication is to shed light on the accuracy of quantification methods of household food waste (HFW).
Design/methodology/approach
Thirty-seven recently published studies in HFW were surveyed for this commentary. Exemplary methods and findings of these studies were compared.
Findings
It is challenging to draw conclusions on the amount of the HFW per person/town/country due to the inconsistent and heterogeneous methodologies used. We recommend using direct measurements or triangulation of methods to help ensure valid findings. Governments should incentivize consumers to deliver their food waste to designated locations where weights could accurately be assessed. Monetary or tax incentives could help stimulate an accurate accounting of waste and encourage reductions. Food waste measurements should be consistently reported as kg/person/week.
Social implications
Food and water security must be provided for all. It is estimated that one-third of edible food for humans is currently lost or wasted globally. According to the World Food Program (WFP), this is about 1.3 billion tons of food per year and at the same time this wasted food could be sufficient to feed two billion people.
Originality/value
The aim of this paper is to fill a gap in the literature about the magnitude and significance of HFW and its impact on the environment and social welfare. Currently, there are no generally accepted uniform methods of food waste quantification at the household level. This original communication brings the importance and challenges of the quantification of HFW to light.
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George Okello Candiya Bongomin, Pierre Yourougou, Rebecca Balinda and Joseph Baleke Yiga Lubega
Currently, consumers of financial products and services have become more vulnerable to predatory financial institutions, especially in the aftermath of Covid-19 pandemic…
Abstract
Purpose
Currently, consumers of financial products and services have become more vulnerable to predatory financial institutions, especially in the aftermath of Covid-19 pandemic. Therefore, financial consumers like the persons with disabilities (PWDs) should be equipped with knowledge and skills to help them to evaluate complex financial products on offer in financial markets, especially in developing countries to avoid being victims of fraudulent lending. The purpose of this study is to establish whether customized financial literacy mediates the relationship between financial consumer protection and financial inclusion of PWDs’ owned MSMEs in rural Uganda post Covid-19 pandemic.
Design/methodology/approach
SmartPLS 4.0 was used to construct the measurement and structural equation models to test whether customized financial literacy significantly mediates the relationship between financial consumer protection and financial inclusion of PWDs’ owned MSMEs in rural Uganda post Covid-19 pandemic.
Findings
The results revealed a partial mediating effect of customized financial literacy in the relationship between financial consumer protection and financial inclusion of PWDs’ owned MSMEs in rural Uganda post Covid-19 pandemic. Conducting customized financial literacy increases financial consumer protection by 12 percentage points to promote financial inclusion of PWDs’ owned MSMEs in rural Uganda post Covid-19 pandemic.
Research limitations/implications
This study focused only on customized financial literacy and financial consumer protection to promote universal financial inclusion of PWDs’ owned MSMEs post Covid-19 pandemic. Future studies may use data collected from other vulnerable groups amongst the unbanked population in developing countries, Uganda inclusive. In addition, this study also collected only quantitative data from the selected population. Further studies can be conducted using key informant interviews and focused group discussion to get the perceptions of the PWDs on being protected from exploitation by unscrupulous financial institutions.
Practical implications
The findings from this study can help policymakers in developing countries like Uganda to revise the existing consumer protection law to include strong clauses on protection of people with special needs like the PWDs. The law must ensure that they are not exploited by financial institutions because of their conditions. The law ought to make sure that the PWDs are educated about their rights in the financial market place and all information on financial products offered by financial institutions should be simplified and interpreted to them before they make consumption decisions.
Originality/value
To the best of the authors’ knowledge, the present study is amongst the first few studies to provide a meticulous and unique discourse on the ever increasing role of financial literacy combined with consumer protection to reduce consumption risks within the financial markets, especially in developing countries in the aftermath of global pandemic shocks. This study uses the social learning theory, theory of reasoned action and theory of planned behaviour to elucidate how customized financial literacy can enhance consumer protection to increase financial inclusion of groups with special needs like the PWDs who have become more susceptible to exploitation by unscrupulous financial institutions in under-developed financial markets, especially in post Covid-19 pandemic.
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Christine Teelken, Inge van der Weijden and Stefan Heusinkveld
Although an increasing number of PhD holders will continue their careers outside academia, we know little about their further career prospects. To develop a better understanding…
Abstract
Although an increasing number of PhD holders will continue their careers outside academia, we know little about their further career prospects. To develop a better understanding of how this group constructs and justifies a successful career outside academia, we conducted semi-structured interviews with 47 PhD graduates from different disciplines (humanities, social and beta sciences) who have obtained elaborate experience working outside academia.
Drawing on a multi-career perspective, we explored the motivations of the PhD holders when making such career transitions. The findings from the interviews demonstrated how PhD holders’ main motivations were associated with their perceived organizational, community and cognitive careers. Our data analysis revealed that these motivations related to PhD holders and can be grouped along four key tensions:
distanced from real life (academia) versus appreciating the practical impact of their research (currently);
competition and performance orientation (academia) versus enjoying their current multidisciplinary collaboration towards a common goal (current);
Individualism and loneliness were typically experienced in academia versus autonomy and intellectual stimulation in their current work; and
lack of stable career perspectives in academia versus current options for competence-based development and personal growth.
distanced from real life (academia) versus appreciating the practical impact of their research (currently);
competition and performance orientation (academia) versus enjoying their current multidisciplinary collaboration towards a common goal (current);
Individualism and loneliness were typically experienced in academia versus autonomy and intellectual stimulation in their current work; and
lack of stable career perspectives in academia versus current options for competence-based development and personal growth.
Thus, while discontinuation of an academic career may easily hold a pejorative connotation, the analysis of the PhD holders’ motivations revealed important and rewarding opportunities in pursuing a career in other sectors. Overall, from our study, we can conclude that while a major gap may exist between careers in academia and ‘the corporate world’, shifting careers between these worlds is not as ‘unthinkable’ as commonly believed.
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