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The aim of this research is to determine the stages that women in resource-constrained environments go through in order to emancipate themselves through entrepreneurial activities. Based on their fieldwork, the authors develop a process framework of emancipation-through-entrepreneurship.

Semi-structured interviews were conducted with 57 female entrepreneurs in two resource-constrained countries in West Africa. Non-participant observations were employed as a secondary data collection technique to provide important sources of information for triangulation.

This study's findings indicate that the process of female emancipation through entrepreneurship begins with the perception of one's personal motivations, followed by the choice of economic activities, the gathering of various necessary resources, and finally the commencement and running of a venture to bring about the desired emancipation. Various factors, such as family, the external environment, personal qualities and ease of operations, were found to influence the choice of entrepreneurial activities. We also found that human, social, cultural and political capital interact to produce economic capital, a central form of capital for the starting and running of ventures in resource-constrained environments.

Although extant studies have shown that entrepreneurship can be a vehicle for women to liberate themselves from various constraints, it is as yet unclear which process these women follow to achieve such emancipation. The development of a process framework of emancipation-through-entrepreneurship is the key contribution of this paper. Despite extant research demonstrating that entrepreneurship can assist women in financially limited settings to achieve economic independence, the specific steps these women take in the process remain unclear. Thus, this paper presents a process framework that focuses on women in constrained environments and their journey to emancipation through entrepreneurship.

Three Coupled Model Intercomparison Project Phase 5 models involved in the G4 experiment of the Geoengineering Model Inter-comparison Project (GeoMIP) project were used to investigate the impact of stratospheric aerosol injection (SAI) on the mean surface air temperature and precipitation extremes in Africa.

This impact was examined under G4 and Representative Concentration Pathway (RCP) 4.5 scenarios on the total precipitation, the number of rainy days (RR1) and of days with heavy rainfall (R20 mm), the rainfall intensity (SDII), the maximum length of consecutive wet (CWD) and dry (CDD) days and on the maximum rainfall in five consecutive days (Rx5day) across four regions: Western Africa (WAF), Eastern Africa (EAF), Northern Africa and Southern Africa (SAF).

During the 50 years (2020–2069) of SAI, mean continental warming is −0.40°C lower in G4 than under RCP4.5. During the post-injection period (2070–2090), the temperature continues to increase, but at a lower rate (−0.19°C) than in RCP4.5. During SAI, annual rainfall in G4 is significantly greater than in RCP4.5 over the high latitudes (especially over SAF) and lower over the tropics. The termination of SAI leads to a significant increase of rainfall over Sahel and EAF and a decrease over SAF and Guinea Coast (WAF).

Compared to RCP4.5, SAI will contribute to reducing significantly regional warming but with a significant decrease of rainfall in the tropics where rainfed agriculture account for a large part of the economies. After the SAI period, the risk of drought over the extratropical regions (especially in SAF) will be mitigated, while the risk of floods will be exacerbated in the Central Sahel.

To meet the Paris Agreement, African countries will implement mitigation measures to contribute to keep the surface air temperature below 2°C. Geoengineering with SAI is suggested as an option to meet this challenge, but its implication on the African climate system needs a deep investigation in the aim to understand the impacts on temperature and precipitation extremes. To the best of the authors’ knowledge, this study is the first to investigate the potential impact of SAI using the G4 experiment of GeoMIP on temperature and precipitation extremes of the African continent.

Motivated by recent rapid exchange rate depreciations, shrank economic growth, high inflation, and persistent trade deficits, this study examines the trade balance (TB) in the face of the recent dynamics of the stated macroeconomic factors, which are also important determinants of the TB. The symmetric test of the J-curve phenomenon for the selected Sub-Saharan African (SSA) countries is revisited in this regard. The study uses panel data from 1970 to 2020 for ten of these countries for the longitudinal panel analysis with the TB as the dependent variable and the real exchange rate, foreign and domestic national incomes, and trade openness as the set of independent variables.

Because the underlying data set involves a heterogeneous panel of relatively short N and long T, the pooled mean group (PMG) and mean group (MG) heterogeneous panel models are employed based on the Hausman test for parameter consistency in heterogeneous panels.

The findings largely support the domestic income growth– TB worsening and the foreign income growth– TB improvement hypotheses. Trade openness is found to mostly augment the TB performance of the countries. The results also validated the J-curve effect for only 3/10 and 2/10 countries in the PMG and MG models, respectively. The divergence for most of the countries is attributed to possible import compression and institutional structure of SSA countries.

Given the favorable effects of trade openness on the TB performance of SSA countries, it is recommended that SSA countries place much emphasis on import-substitution industrialization and value addition to their natural resources as well as investment-driven growth policies to improve the competitiveness of their exports and reverse the chronic deficits in their TBs.

This paper is unique for invoking heterogeneous panel models to analyze the TB in light of recent dynamics of its determinants, as well as providing an update on the symmetric test of the J-curve phenomenon for the selected SSA countries.

This paper aims to test three parametric models in pricing and hedging higher-order moment swaps. Using vanilla option prices from the volatility surface of the Euro Stoxx 50 Index, the paper shows that the pricing accuracy of these models is very satisfactory under four different pricing error functions. The result is that taking a position in a third moment swap considerably improves the performance of the standard hedge of a variance swap based on a static position in the log-contract and a dynamic trading strategy. The position in the third moment swap is taken by running a Monte Carlo simulation.

This paper undertook empirical tests of three parametric models. The aim of the paper is twofold: assess the pricing accuracy of these models and show how the classical hedge of the variance swap in terms of a position in a log-contract and a dynamic trading strategy can be significantly enhanced by using third-order moment swaps. The pricing accuracy was measured under four different pricing error functions. A Monte Carlo simulation was run to take a position in the third moment swap.

The results of the paper are twofold: the pricing accuracy of the Heston (1993) model and that of two Levy models with stochastic time and stochastic volatility are satisfactory; taking a position in third-order moment swaps can significantly improve the performance of the standard hedge of a variance swap.

The limitation is that these empirical tests are conducted on existing three parametric models. Maybe more critical insights could have been revealed had these tests been conducted in a brand new derivatives pricing model.

This work is 100 per cent original, and it undertook empirical tests of the pricing and hedging accuracy of existing three parametric models.

The study aims to map the links between Industry 4.0 (I-4.0) technologies and circular economy (CE) for sustainable operations and their role to achieving the selected number of sustainable development goals (SDGs).

The study adopts a systematic literature review method to identify 76 primary studies that were published between January 2010 and December 2020. The authors synthesized the existing literature using Scopus database to investigate I-4.0 technologies and CE to select SDGs.

The findings of the study bridge the gap in the literature at the intersection between I-4.0 and sustainable operations in line with the regenerate, share, optimize, loop, virtualize and exchange (ReSOLVE) framework leading to CE practices. Further, the study also depicts the CE practices leading to the select SDGs (“SDG 6: Clean Water and Sanitation,” “SDG 7: Affordable and Clean Energy,” “SDG 9: Industry, Innovation and Infrastructure,” “SDG 12: Responsible Consumption and Production” and “SDG 13: Climate Action”). The study proposes a conceptual framework based on the linkages above, which can help organizations to realign their management practices, thereby achieving specific SDGs.

The originality of the study is substantiated by a unique I-4.0-sustainable operations-CE-SDGs (ISOCES) framework that integrates I-4.0 and CE for sustainable development. The framework is unique, as it is based on an in-depth and systematic review of the literature that maps the links between I-4.0, CE and sustainability.

This study analyzed the state of broiler production in Senegal after nearly two decades of poultry import restrictions. It provides a synopsis of the Senegalese broiler value chain and evaluates the performance and economics of different broiler farm types.

A multi-stakeholder workshop and interviews were conducted with key informants to investigate the structure and activities of the Senegalese broiler value chain. The typical farm approach (TFA) was used to construct and analyze “typical” farms that represent the most common broiler production systems in Senegal.

The current situation in the Senegalese broiler value chain is favorable for hatcheries, feed mills, producers and poultry traders. However, the slaughterhouses are not faring well. The farm economic analysis demonstrates that typical medium-scale broiler farms are performing well, due to the use of high-quality feed, chicks and good husbandry. Additionally, the analysis revealed that feed and day-old chick (DOC) costs are the most significant in conventional broiler production in Senegal. Despite the high costs of feed and DOCs, broiler production is profitable for typical farms.

Athough this study provides detailed insights into broiler farm economics in Senegal, it does not include typical integrated large-scale broiler farm-types. Based on our findings, we can predict that such farm types may be more efficient and have lower production costs due to the use of high-quality inputs (chicks and feed), and economies of scale. However, future studies will need to verify this prediction.

To the best of the authors’ knowledge, only a few unpublished studies on broiler farm economics in Senegal exist. These studies only provide a basic analysis of the cost of production and profitability, with little consideration of various production systems. Contrastingly, this study provides a detailed economic analysis of different types of conventional broiler farms in key production regions.

This study investigated the impact of economic growth on carbon emissions on selected West African countries between 1980 and 2019. Simon-Steinmann's economic growth model provides the relevant theoretical foundation. The main objective of this study was to ascertain whether economic growth will impact carbon emissions.

The study selected six-sample countries in West Africa and used secondary data obtained through the World Bank Group online database covering the period 1980–2019, employing panel econometric methods of statistical analysis.

The outcome indicates that the independent variable showed a positively significant impact on the dependent variable for the pooled samples in the short-run, with significant cointegration.

The study concluded that economic growth significantly impacts the emissions of carbon, and a 1% rise in economic growth will result to 3.11121% unit rise in carbon emissions.

Policy implementation should encourage the use of energy efficient facilities by firms and government and the establishment of carbon trading hubs.

Failure by governments to heed the recommendations of this research will result to serious climate change issues on economic activities with attendant consequences on human health within the region and globally.

This is one of the comprehensive works on subject covering the West African region within the continent.

With the increasing awareness of sustainability and its importance around the world, corporate social responsibility (CSR) in Africa also requires attention. Based on the stakeholder theory, this study aims to determine the relationship between CSR information received by small and medium-sized enterprises (SMEs) and CSR's diffusion and the mediating role of environmental awareness in Angola as a country representative of the African context.

The empirical study analyzes managers' perceptions of 131 SMEs in Angola. The partial least squares structural equation modeling (PLS-SEM) is the method to assess the relationship between CSR information and its diffusion and the mediating role of environmental awareness SMEs in Angola.

The authors found strong evidence that CSR diffusion, and disclosure as one of CSR's related actions, heavily depends on the information received and managed by the firm. The authors also confirmed that environmental awareness puts pressure on SMEs to increase the SMEs' diffusion efforts.

The study points out the role of managers in promoting a responsible orientation of businesses in Angola for preserving the environment and improving the competitive success of SMEs.

The social, economic and legal contexts of Angola are vulnerable. The findings raise concerns about whether governments and regulatory efforts improve the development of the strategies toward social responsibility of African firms and whether these firms also increase the role of SMEs in producing positive outcomes through CSR.

The results of this study contribute to a better understanding of the features of the strategic orientation of SMEs in Angola, necessary to enhance CSR and protect the environment. The conclusions highlight the potential role of managers in promoting a culture of ethics, social innovation and successful competition change in businesses.

This research paper aims to handle the effects of economic growth, corruption, energy consumption as well as trade openness on CO2 emissions for a sample of West African countries during the period 1980 and 2018.

The current work uses the pooled mean group (PMG)-autoregressive distributed lag (ARDL) panel model to estimate the dynamics among the different variables used in the short and long terms.

The findings demonstrate that all variables have long-term effects. These results suggest that gross domestic product (GDP) per capita exhibits a positive and prominent effect on CO2 emissions. Corruption displays a negative and outstanding effect on long-term CO2 emissions. In contrast, energy consumption in West African countries and trade openness create environmental degradation. Contrarily to long-term results, short-term results demonstrate that economic growth, corruption and trade openness do not influence the environmental quality.

Empirical findings provide useful information to explore deeper and better the link between the used variables. They stand for a theoretical basis as well as an enlightening guideline for policymakers to set strategies founded on the analyzed links.

The purpose of this paper is to assess the extent to which adaptation projects have incorporated ecosystem services, as well as their redesigning options. The projects selected are listed under National Adaptation Programme of Action in West African region.

A desktop survey approach was used to review 168 projects from 13 countries across West Africa. The projects were categorized and analyzed according to their adaptation goal, thematic focus, their implementation duration and level of investment.

The adaptation initiatives are dominated by actions in the agricultural sector accounting for 32 per cent of the total. Further, they were characterized by small grants consideration with 63 per cent falling under US$1m budget, short-term implementation duration with 46 per cent having three years’ execution period. A large portion of projects (55 per cent) mentioned directly one or more ecosystem services, with provisioning services being referred to in 50 per cent of the cases.

Adaptation projects with ecosystem services components are more sustainable and beneficial to the community. Hence, more consideration of nature benefits during project design, more financial consideration and localizing of the projects to realize the global adaptation goal should be considered.