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The purpose of this paper is to analyze the credit channel effects on investment behavior for the US and the Euro area.

This paper uses the dynamic stochastic general equilibrium model and calibrates a version of the Carlstrom and Fuerst’s (1997) agency cost model of business cycles with time-varying uncertainty in the technology shocks that affect capital production. To highlight the differences between the US and European financial sectors, the paper focuses on two key components of the lending channel: the risk premium associated with bank loans and the bankruptcy rates.

This paper shows that the effects of minor differences in the credit market translate into large, persistent and asymmetric fluctuations in real and financial variables and depend on the type of shocks. The results imply that the Euro areas supply elasticities for capital are less elastic than that of the USA following a technology shock. Finally, the authors find that the adverse impact of uncertainty shocks is heterogeneous across countries and amplified by the steady-state bankruptcy rate and risk premium.

This paper quantifies the effects of uncertainty shocks when there is a credit channel due to asymmetric information between lenders and borrowers for the Euro area countries, and then compares the results to that of the USA. This paper shows that financial accelerator mechanism could potentially play a significant role in business cycles in the Euro area. This result directly lends one to conclude the following: the credit channel that affects the financial sector does indeed matter for macroeconomic behavior, and that policy makers should be attentive in smoothing out uncertainties if the economic policies are to lower the business and financial cycle volatilities.

The aim of the paper is to examine the various aspects of the 1MDB scandal including the extent and types of corruption that occurred and the action taken to deal with them. In doing this, the paper seeks to identify the reasons for the scandal and the lessons that can be learnt to avoid such a scandal in Malaysia and elsewhere in the future.

The research for the paper is based on evidence from court hearings, reports of watchdog and regulatory agencies, media reports, and various articles and books written about 1MDB.

The paper shows that most of the scandal involved embezzlement, bribery, false declarations and bond mispricing relating to extensive borrowing by 1MDB, and entailed a global network of shell companies and individuals through which the illicit money was passed. It also shows weak governance in 1MDB, poor internal controls within banks, the failure of watchdog and enforcement bodies to take the necessary action partly due to political control over them, and overall the lack of political will to deal with the scandal.

The paper builds on the findings of other papers and books written on the 1MDB scandal. It does this by linking the corruption to the borrowings of 1MDB, the international network of money-laundering and bribery through which illicit money flowed, and the poor internal controls in the organisation. It also builds on previous research by highlighting the failure of banks to identify money-laundering and of watchdog and enforcement bodies to deal with the corruption. A further value of the paper is to identify the lessons that can be learnt about combatting corruption on such a scale.

The purpose of this study is to explore the role individual innovativeness along with e-learning self-efficacy play in predicting the e-learning readiness of first- and second-year students of an open and distance education institutions in an African context.

Therefore, building on previous related research in this area, a quantitative approach was adopted to address the research questions and to establish whether a statistically significant relationship existed between individual innovativeness, e-learning self-efficacy, the independent variables; and e-learning readiness, the dependent variable. In total, 476 first- and second-years students of the university participated in the four-Likert-type scale survey. The research instrument which comprises 74 survey items was completed by 217 of the students. Statistical tools used for analysing data included both Pearson Product Moment Correlation coefficients and t-tests.

It was discovered that a strong positive and significant relationship was observed between individual innovativeness and e-learning readiness of first- and second-year students of the Yenagoa Study Centre of the National Open University of Nigeria (NOUN); a statistically significant relationship was also found between e-learning self-efficacy scores and the e-learning readiness of the first- and second-year students of the Yenagoa Study Centre of NOUN; there was a statistically significant joint relationship between the three variables under investigation; findings equally revealed that male respondents had higher e-learning readiness than their female counterparts.

Like every other study of this nature, this one also suffers some limitations. First, NOUN is a very large university with over half a million students spread across almost 78 study centres. This means that observation from just one study centre amounts to a very small sample size. This according to Schweighofer, Weitlaner, Ebner and Rothe (2019) jeopardises the generalisability and validity of study results. The authors also maintain that empirical data generated from surveys that usually rely participants' abilities to read and select responses without further interpretation by the researchers suffer from cognitive biases like social desirability. To address the above limitations, detailed studies involving all studies centres of NOUN be undertaken and other qualitative and or mixed research methodologies be adopted in the future.

The implications for this study are that people who are innately innovative will willingly accept technology and by extension, learning in technology-rich environments like those found in like NOUN whose mode of study is blended learning inherently found in open and distance learning (ODL) institution. Therefore, this study is significant as it will provide relevant information to the management and administrators of NOUN, policymakers and regulatory institutions for the development, deployment and implementation of e-learning strategies. Findings will also benefit e-learning initiatives undertaken by similar institutions that adopt the ODL mode of education in Nigeria and other developing countries.

Even though, studies on the antecedents of e-learning readiness have been widely conducted across diverse contexts, studies exploring the associations between individual innovativeness, e-learning self-efficacy and e-learning readiness are relatively hard to come by. The above two variables as predicting the e-learning readiness in the study context are comparatively new. This study thus focuses on the relationships between the individual innovativeness levels, e-learning self-efficacy beliefs of students and their e-learning readiness which ultimately determines their ability to sustain studies in an ODL institution.

This article aims to open the black box of the relationship between customer experience and customer satisfaction. The authors also take a fine-grained approach to the concept of customer experience analysis in terms of four dimensions: basic service experience (BSE), moments of truth (MT), focus on results (FR) and peace of mind (PM).

A total sample of 185 industrial customers in Spain was collected via an online platform from March to April 2020. The data were analysed using partial least squares-structural equation modelling (PLS-SEM).

The results indicated that the four dimensions of customer experience are the foundation of commercial success (i.e. customer satisfaction) for express parcel companies in the business-to-business (B2B) environment. Therefore, the most innovative express parcel companies should not only pay attention to providing services in accordance with the customer agreement but also go beyond that; hence, these companies must understand customer needs to be able to offer a unique experience. Therefore, these companies must design experiences that go beyond pure technical delivery services.

Although previous work has linked customer experience to customer satisfaction, there is little work that does so specifically in an industry as in vogue as express parcels and less so in the B2B environment. In addition, this work analyses fine-grained customer experience in terms of grain's four dimensions, and therefore, the authors analyse how each dimension (e.g. more rational or more subjective dimensions) impacts customer satisfaction. Few studies have focussed on this type of analysis for express parcel companies in the B2B environment.

The Roses Citadel is a bastioned fortification that has archaeological remains from the Greek, Roman and medieval periods in its interior. Currently, the area inside the Citadel is used for a wide range of activities; some directly related with the heritage item, others associated with its use as a public space for the town. The purpose of this paper is to analyse the economic interest of charging an entrance fee vs the alternative of free access and offers a framework to address this issue.

The proposal is to consider the marginal cost of increasing the number of users and to carry out a travel cost analysis. It is vital to take into account the results of specifically economic analyses, but the evaluations of social policies should also be considered, and should have a considerable weight in decision making.

It is proposed that free entry would bring about an increase in the number of visitors and users of Roses Citadel. In turn, this increase would lead to a greater social use of this heritage asset, and a chance for the least privileged sectors of society to use the site more. Financial resources for the maintenance of the asset would not be raised through entry fees, but through contributions relating to the increase in the social consideration of the site.

In the context of a discussion on the advantages and disadvantages of paying an entry fee for heritage assets, the example of Roses Citadel provides several factors for consideration. It shows that payment of an entry fee affects use of the site by society, and particularly by the local community, whereas free access leads to a wide range of opportunities for use.