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1 – 10 of 14This paper is a proposal to provide for the poor – those earning insufficient incomes to satisfy their needs and the unemployed – by enabling them to acquire dividend-paying (and…
Abstract
This paper is a proposal to provide for the poor – those earning insufficient incomes to satisfy their needs and the unemployed – by enabling them to acquire dividend-paying (and voting) shares in the companies that produce the goods and services consumed in society. It will be accomplished by: (1) establishing a mortgage loan at birth for every newborn child; (2) the loans will be taken out by each of the major producing companies (plus start-ups) in the names of the children as firms do their annual planning; (3) the amount of the loan will be increased annually when the companies plan for succeeding years; (4) a portfolio of new assets – stocks and bonds – in the companies will be purchased with the funds from the mortgage loan; (5) the loan will be repaid over a period of years from the dividends paid by the companies. Once redeemed, the assets, and their future earnings, will belong to the person in whose name the mortgage loan was established. Should the program include all newborns, rich and poor in the name of fairness, when today's cohort reaches maturity, every member of society will be a shareholder in a variety of wealth producing companies that pay regular dividends. The proposal will not require funds from the government and no additional taxes will have to be raised.
Sharneet Singh Jagirdar and Pradeep Kumar Gupta
The present study reviews the literature on the history and evolution of investment strategies in the stock market for the period from 1900 to 2022. Conflicts and relationships…
Abstract
Purpose
The present study reviews the literature on the history and evolution of investment strategies in the stock market for the period from 1900 to 2022. Conflicts and relationships arising from such diverse seminal studies have been identified to address the research gaps.
Design/methodology/approach
The studies for this review were identified and screened from electronic databases to compile a comprehensive list of 200 relevant studies for inclusion in this review and summarized for the cognizance of researchers.
Findings
The study finds a coherence to complex theoretical documentation of more than a century of evolution on investment strategy in stock markets, capturing the characteristics of time with a chronological study of events.
Research limitations/implications
There were complications in locating unpublished studies leading to biases like publication bias, the reluctance of editors to publish studies, which do not reveal statistically significant differences, and English language bias.
Practical implications
Practitioners can refine investment strategies by incorporating behavioral finance insights and recognizing the influence of psychological biases. Strategies span value, growth, contrarian, or momentum indicators. Mitigating overconfidence bias supports effective risk management. Social media sentiment analysis facilitates real-time decision-making. Adapting to evolving market liquidity curbs volatility risks. Identifying biases guides investor education initiatives.
Originality/value
This paper is an original attempt to pictorially depict the seminal works in stock market investment strategies of more than a hundred years.
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Nam Hoang Le, Zhe Li and Megan Ramsey
The purpose of this study is to examine the relationships between chief executive officers (CEOs) with military service and firm dividend and cash holding decisions.
Abstract
Purpose
The purpose of this study is to examine the relationships between chief executive officers (CEOs) with military service and firm dividend and cash holding decisions.
Design/methodology/approach
The authors use a sample of Standard and Poor's (S&P) 1500 firms in the USA over a sample period from 1999 to 2017 and a panel data approach, as well as instrumental variable (IV)analysis. The models control for firm characteristics as well as industry and year-fixed effects.
Findings
The results show CEOs with military service are associated with higher total payout and less cash. Higher dividends appear to drive the total payout result. When cash holdings are split into pure cash and short-term investments, the reduction in cash holdings is driven by a reduction in pure cash. The findings are more pronounced for powerful CEOs and CEOs with low labor mobility. Military CEOs are also associated with less risk, measured by stock return volatility and return on assets (ROA) volatility.
Originality/value
Overall, the results are consistent with military CEOs implementing conservative policies that reduce firm risk, curtailing the demand for precautionary cash and reducing the necessity to forego dividend payouts.
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Afees Salisu and Douglason Godwin Omotor
This study forecasts the government expenditure components in Nigeria, including recurrent and capital expenditures for 2021 and 2022, based on data from 1981 to 2020.
Abstract
Purpose
This study forecasts the government expenditure components in Nigeria, including recurrent and capital expenditures for 2021 and 2022, based on data from 1981 to 2020.
Design/methodology/approach
The study employs statistical/econometric problems using the Feasible Quasi Generalized Least Squares approach. Expenditure forecasts involve three simulation scenarios: (1) do nothing where the economy follows its natural path; (2) an optimistic scenario, where the economy grows by specific percentages and (3) a pessimistic scenario that defines specific economic contractions.
Findings
The estimation model is informed by Wagner's law specifying a positive link between economic activities and public spending. Model estimation affirms the expected positive relationship and is relevant for generating forecasts. The out-of-sample results show that a higher proportion of the total government expenditure (7.6% in 2021 and 15.6% in 2022) is required to achieve a predefined growth target (5%).
Originality/value
This study offers empirical evidence that specifically requires Nigeria to invest a ratio of 3 to 1 or more in capital expenditure to recurrent expenditure for the economy to be guided on growth.
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Asim K. Karmakar, Sebak K. Jana and Priyanthi Bagchi
Financial instability and economic crises are closely intertwined. There is no universally accepted definition. The term ‘stability’ or ‘instability’ refers to the behaviour of…
Abstract
Financial instability and economic crises are closely intertwined. There is no universally accepted definition. The term ‘stability’ or ‘instability’ refers to the behaviour of the system rather than to individual institutions. However, one cannot rule out that failure of a single financial institution can trigger significant financial turmoil as was happened in 2007–08 global financial crises. Like unstable equilibrium, instability implies inability to correct itself on its own. Instability, if it persists, turns into a crisis. In the above backdrop, the objective of this chapter is to investigate the financial crises and instability viewed both from economic and international political economy perspectives with a tale of four generation crisis models as it has been evolved over time to explain the phenomenon of different types of crises.
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This paper explores whether data back the claim that imports of armaments are inherently bad for economic growth. Regardless of one's point of view, the production and trade of…
Abstract
Purpose
This paper explores whether data back the claim that imports of armaments are inherently bad for economic growth. Regardless of one's point of view, the production and trade of weaponry is a significant industry with serious economic implications that warrant investigation. The financial repercussions of military spending have been extensively studied, but the economic effects of arms importation remain unknown.
Design/methodology/approach
This study adopts a pooled mean group approach to investigate the nexus between arms imports, military expenditure and per capita GDP for a balanced panel of twenty-five of the top arms importers in the world from 2000 to 2021.
Findings
The authors find that arms imports and military spending negatively impact GDP per capita in the short run, but military spending is beneficial over the long run. The authors also used the Dumitrescu Hurlin Granger causality test, which revealed a unidirectional causation between per capita GDP and military expenditure, and a unidirectional causal relationship from military spending to arms imports.
Research limitations/implications
This paper is deficient in a few aspects: first, it looks at only those countries comprising the top 70% of arms imports. Second, it omits many political, technological and legal factors that impact arms imports and military expenditures.
Originality/value
This paper looks into the impact of defense spending and arms imports on economic growth for twenty-five nations with the highest share of arms imports in recent times. It is a significant addition to the literature as it resolves the debate of whether or not the military expenditure is wasteful and whether arms imports significantly harm the nation's economic growth.
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Jennifer Hillman, Dave Lochtie and Olivia Purcell
In this case study, we offer an analysis of feedback from a student experience survey completed by Black undergraduate students who received proactive, targeted coaching and…
Abstract
Purpose
In this case study, we offer an analysis of feedback from a student experience survey completed by Black undergraduate students who received proactive, targeted coaching and mentoring support during 2021–2022. All the students were studying at a large higher education institution in the United Kingdom which offers a broad range of degree courses by distance learning.
Design/methodology/approach
This paper reports on the intervention delivered and analyses the student experience of being offered, and receiving, proactive coaching and mentoring. It is based on the responses of 102 students who engaged with the experience survey after having self-selected to receive the intervention. What follows is an analysis of their experiences using a qualitative in vivo approach based on word frequency in students’ free-text comments.
Findings
The findings presented are that, in this intervention, students who self-select to receive coaching and mentoring support experience tangible (self-reported) behaviour changes with potentially longer term benefits for their studies. These include improved self-confidence and self-efficacy, increased proactive help-seeking behaviour, greater recognition of strengths and achievement and personal growth and self-awareness.
Originality/value
In presenting this case study, we aim to contribute to the growing corpus of practitioner case studies and research papers that show the benefits of coaching and mentoring in higher education and – more specifically – why coaching and mentoring can be a worthwhile targeted intervention for students from underrepresented backgrounds. This lends support to the growing consensus that students with positive, proactive help-seeking behaviours perform better than students not able to access support (Byrne et al., 2014). We conclude the case study with some practical implications for providers looking to provide targeted support to students.
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David Breakspear and Daryl Mahon
Those involved in the criminal justice system are very often some of the most marginalised in society and can have some of the most complex needs. Likewise, there is little in the…
Abstract
Those involved in the criminal justice system are very often some of the most marginalised in society and can have some of the most complex needs. Likewise, there is little in the literature on the use of peer support in prison. We begin the chapter by drawing on the literature to examine some of the outcomes associated with peer work in the criminal justice system. The change in identity that marks the desistence process is articulated throughout this chapter. Drawing on his experience of working as a peer in the prison setting, David brings some of these abstract concepts to life.
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Roosa Amanda Lambin and Milla Nyyssölä
Mainland Tanzania has seen two decades of significant social policy reforms and transformations in its social and economic structures, whilst the country continues to grapple with…
Abstract
Purpose
Mainland Tanzania has seen two decades of significant social policy reforms and transformations in its social and economic structures, whilst the country continues to grapple with persisting gender inequalities. This article examines Tanzania's social policy developments from a gender perspective. The authors analyse the level, reach and quality of social policy delivery to working-age women across the areas of health policy, social protection and employment policy during 2000–2021.
Design/methodology/approach
The article draws on qualitative research deploying the scoping review method. The data consist of diverse secondary materials, including academic publications, government policy documents, relevant statistics and other types of “grey” literature.
Findings
Tanzania has made significant advancements in the legal frameworks around welfare provision and has instituted increasingly gender-responsive government policy plans. The health and social protection sectors, in particular, have witnessed the introduction of large-scale measures expanding social policy implementation. However, social policy delivery remains two-tiered, with differences in provisions for women in the formal and informal sectors.
Originality/value
Social policy delivery and implementation have increased and diversified in Sub-Saharan Africa (SSA) during the new millennium, with a growing integration of gender-specific policy objectives. However, limited social policy scholarship has focused on the gendered effects of broader social policy models in SSA. The article remedies the concomitant knowledge gaps by examining various social policies and their impacts on working-age women in Mainland Tanzania. The authors also engage with the theoretical welfare regime literature and present an analytical framework for gender-sensitive assessment of emerging social policy models in the Global South.
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Mohamad Handi Khalifah, Fatih Savaşan, Naimat U. Khan and Shabeer Khan
This paper aims to trace the contours of Islamic political economy (IPE) for last four decades with the help of bibliometric analysis. This method does not focus on in-depth…
Abstract
Purpose
This paper aims to trace the contours of Islamic political economy (IPE) for last four decades with the help of bibliometric analysis. This method does not focus on in-depth literature. However, it reviews more material content of the published papers in the field, generally including the number of publications, authors, title, H-Index and authors’ affiliation.
Design/methodology/approach
The authors use biblioshiny by R in conducting bibliometric analysis. Based on the results of analysis, the authors only found 39 relevant documents to the topic with the help of keyword of “Islamic political economy”. The authors analyse the data and visualize it into bibliometric images for the convenience of the readers.
Findings
There are 39 documents on IPE in the annual scientific production. The year 1980 had the lowest productivity at 3% while the year 2007 showed an increase in scientific productivity by 13%. The most significant increase in production occurred between 2014 and 2015 by 8%, while the most significant decline occurred between 2007 and 2008 by 10%. The most significant contributors are Akan, T., Choudhury, M.A. and Asutay, M. According to the Corresponding Author’s Country, the UK has eight articles on IPE. Humanomics is the most influential Journal, with six documents.
Research limitations/implications
This research only examines documents sourced from Web of Science and Scopus under the title “Islamic political economy” and does not include articles from other sources. This research has implications for future researchers and suggests a shift in recent research on IPE towards exploring current realities and expanding beyond traditional economic and political aspects. The goal is to gain a comprehensive understanding of Islam’s role in shaping economic and political systems, promoting inclusive sustainable development and social justice, and exploring its relationship with broader political and economic systems.
Originality/value
IPE has become a trendy topic in the early days, the second half of the 20th century, during the revival of the Islamic mode of finance and development. However, with time, the discussion on this topic appeared less in scientific and academic publications; this issue needs an overview of how far this discipline has evolved. This work aims to identify future research trends in this area. Scholars should investigate articles by author, institution, country, databases, data sources with high-impact factors and objective metrics to get new perspectives.
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