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Considering the importance of human capital in innovation, entrepreneurship and thus economic development, this study attempts to examine formal learning as a mechanism of human capital development in institutions of higher learning. Ironically, students in such institutions are automatically assumed to learn and accumulate pertinent capacity, which would then enable them to compete in the business world or pursue further studies in future. Consequently, lack of this cognizance culminates in little being known about how students learn to accumulate knowledge, skills and requisite competencies. Notwithstanding this, the challenges posed in the twenty-first century require well-rounded students those especially who can address the global transformations witnessed in the business arena. The purpose of this paper is an attempt to fill this gap using data from the University of Dubai (UD) to examine how formal learning takes place in an institution and what determines it.

Learning is conceptualized in terms of knowledge, skills and competencies accumulated as proxied by cumulative general point aggregate. All the data used came from the UD. In addition to in-depth descriptive analysis, the study uses limited dependent techniques to identify the most significant determinants of institutional learning.

The empirical results generated indicate that demographic characteristics such as age, nationality and gender had a positive effect on learning. Moreover, a student’s initial condition influenced his/her learning positively. Whereas the mode of study under personal preferences did not seem to affect learning, the number of course sections taken had a positive influence on learning. As anticipated, student transfer had a negative influence on learning. The number of credit hours accumulated affected learning positively.

The main limitation of this study is that results are only applicable within a limited geographical scope, and thus they cannot be generalized for global consumption. Nonetheless, the discussion and results obtained make insights to any future-related studies.

As pointed out in the previous sections, learning will be conceptualized in the form of knowledge, skills and competency acquisition. In a school setting, knowledge, skills and competencies are better captured by the grade attained in each subject. The general student learning can, therefore, be equally captured by the cumulative grade point aggregate. The authors purport that learning can be visualized, or in other words conceptualized, as a complex process that is determined by five main factors that include demographic characteristics; student initial condition; personal preferences and choices; and time factor curriculum and anticipated future career.

This study aims to investigate the impact of ownership structure and board characteristics on dividend policy in the listed Turkish firms between 2013 and 2019.

This study uses the probability of paying dividends, dividend payout ratio and dividend yield measures. The suitable regression procedures (logit, probit and Tobit models) are used to examine the research hypotheses by focusing on a panel data set drawn from the Borsa Istanbul (BIST) 100 index, excluding financial and utility firms.

The empirical findings indicate that institutional and concentrated ownerships are significant and positively associated with dividend payouts, whereas family ownership does not influence dividend policy. On the other end, board size is positive, while chief executive officer duality is negatively related to dividend policy. Additionally, the female directors and board independence are insignificant in influencing firms to pay high dividends.

Future researchers can validate this paper’s findings by considering the stock dividends as well. Additionally, future researchers may investigate the relationship between these constructs by extending the sample size of firms listed on BIST or in other emerging markets.

This study’s findings may serve policymakers, regulators, investors and academic researchers to get valuable guidance from relevant literature. The Turkish firms may improve dividend policy by implementing the regulatory framework introduced by the Capital Markets Law in 2012 for effective monitoring and protecting the minority shareholders’ rights. The controlling shareholders may alleviate principal-principal conflicts by ensuring the independence of directors and increasing the number of female directors according to the critical mass of at least 30% of board members.

This study contributes to agency theory and signaling theory by considering ownership structure and board attributes among Turkish firms related to dividend payments.

The purpose of the paper is to examine the relationship between litigation risk and payout policy.

The authors employ various regression techniques including probit, logit and tobit regression methodologies to study the relationship between litigation risk (contemporaneous measures, litigation dummy) and payout policy (dividend payout likelihood and dividend yield). The authors also conduct several robustness tests.

The authors find that firms involved in a lawsuit have a lower propensity to distribute dividends to shareholders. In particular, the authors document a negative relationship between litigation risk and payout policy as measured by dividend payout likelihood and dividend yield. The results are robust to a series of robustness tests including using alternate regression specifications, alternate measures of litigation and payout policy, a propensity-score matched sample and using an instrumental variable.

The paper identifies another determinant of payout policy and documents another avenue whereby legal institutions affect corporate payout policy. The link between litigation risk and payout policy is of interest to the business community, financial economists, management and the investing public.

The authors investigated cocoa farmers' access to subsidized fertilizer in Ghana and implications on productivity.

Primary data were sourced from 435 cocoa farmers. Cragg hurdle and two-step Tobit model with continuous endogenous regressors/covariates were applied for the drivers of cocoa farmers' participation in fertilizer subsidy programme and productivity. Propensity score matching (PSM), inverse-probability weights (IPW) and augmented inverse-probability weights (AIPW) were applied for productivity impact assessment of fertilizer subsidy.

All the farmers were aware of fertilizer subsidy for cocoa production in Ghana. Farmers became aware of fertilizer subsidy through extension officers, media and other farmers. Half of cocoa farmers benefitted from fertilizer subsidy. Averagely, cocoa farmers purchased 292 kg of subsidized fertilizer. Many socio-economic, farm-level characteristics and institutional factors determine cocoa farmers' participation in fertilizer subsidy programme, quantity of subsidized fertilizer obtained and productivity. Beneficiaries of fertilizer subsidy recorded higher cocoa productivity than non-beneficiaries. Hence, fertilizer subsidy for cocoa production in Ghana leads to a gain in productivity.

There should be more investments in fertilizer subsidy so that all cocoa farmers benefit and obtain the required quantities.

The authors provide new evidence on cocoa productivity gain or loss emanating from fertilizer subsidy by combining different impact assessment techniques for deeper analysis: PSM, IPW and AIPW.

Millennials have an interest in luxury and premium products across all types of goods, but little is known about how this translates into their preferences for wine. In general, Millennials are spending less per bottle on wine than older generations, but what are the characteristics of the subset of Millennials who are spending more on wine? The purpose of this article is to develop an understanding of Millennials’ buying habits with regard to higher-priced, luxury wines.

A survey instrument was designed and used to collect responses from 189 Millennial wine drinkers in the US. Statistical tests and a binary probit model were used to analyze the results.

The findings suggest that there is a subset of US Millennials that present a viable market for luxury wines.

This research is limited by the sample itself, as a relatively small, convenience sample of Millennial wine drinkers.

Wineries interested in targeting a Millennial crowd will benefit by recognizing that male, married Millennials with annual incomes of over $50,000 are more likely to buy higher-priced wines. In addition, findings suggest that traditional and non-traditional outlets for wine information are being used as these Millennials seek out information about wine.

While Millennial wine consumers are still developing their tastes, this is one of the first articles to isolate the Millennials who are buying higher-priced wines. This research sheds light on a potentially lucrative consumer segment.

The purpose of this paper is to critically examine the impact of a growth enhancement support scheme (GESS) on the enabling environment of smallholder farmers in sub-Saharan Africa. The main aim is to investigate the impact of the GESS on access to rural farm credit and the transport cost of smallholder farmers in the agricultural transformation agenda (ATA) in Nigeria.

This paper adopts a survey research technique, aimed at gathering information from a representative sample of the population, as it is essentially cross-sectional, describing and interpreting the current situation. A total of 1,200 were sampled across the six geopolitical zones of Nigeria.

The results from the use of a double-hurdle model indicate that the GESS has a significant impact on farmers’ access to credit, but does not significantly impact on rural farm transport cost, which subsequently influences the price of food in the country.

This implies that if the Federal Government of Nigeria is to work toward an ideal agricultural transformation agenda, transport networks should be closely aligned with the GESS priorities to provide connectivity to rural areas that provide most of the country’s agricultural output.

This research adds to the literature on the agricultural and rural development debate in developing countries. It concludes that embracing a rural finance and transportation infrastructure should form the foundation of the ATA in Nigeria, which, in turn, would provide a conducive environment for a more widespread rural economy in sub-Saharan Africa.

This paper aims to analyze the significance of British Columbia Vintners Quality Alliance (BC VQA) certification that constitutes BC’s wine appellation and its influence on wine prices, the volume of wine sales and winemakers’ revenues.

A three-stage endogenous dummy variable specification that addresses the endogeneity of the VQA certification is used. The data used in this research come from the BC liquor distribution branch, and it is composed of a monthly scanner wholesales data of all wines sold by the BC estate wineries located in the Okanagan and Similkameen Valleys of BC in 2011-2015.

The obtained results suggest that VQA certification has a positive and marginally significant effect on the average volume of sales of BC produced wines, but it seems not to influence the average wine prices and the average revenue share. The results imply then that VQA certification allows rent dissipation via over-certification, which, in turn, allows arbitraging away of producers’ rents.

The research constitutes the first attempt of the use of three-stage endogenous dummy variable modeling approach to correct for the endogeneity of the VQA certification in BC. The analysis is essential for BC winemakers as it can inform them about the current role of the VQA certification in BC. This knowledge is especially important now when the BC wine region is developing its collective, regional reputation and is in the process of introduction of new appellations and sub-appellations.

This paper aims to identify factors influencing the likelihood of consumers trying muscadine wines and among those who have tried them, willingness to pay (WTP) for an in-state produced muscadine wine.

The study uses a 2015 survey of wine consumers residing in Tennessee (TN). The survey presented respondents with a referendum choice experiment between a ‘base’ wine (represented by a North Carolina (NC) muscadine wine) and a TN muscadine wine. The study uses probit regressions to estimate factors influencing the probability of trying muscadine, and those influencing TN muscadine wine choice. Estimates of WTP for TN muscadine wine are derived from the model coefficients.

Older age, living in non-metro households being a weekly wine consumer, preferring red wines, and having visited a winery in the past year positively influence trying muscadines. Older age, liking muscadines and lower product price positively influence TN muscadine choice. Greater importance of wines being local and premiums paid for local foods have positive influences on trying muscadines and WTP for TN muscadine wine. A premium WTP for a TN muscadine over a NC muscadine exists among TN consumers. Among the most influential reasons why consumers chose the TN muscadine were beliefs that purchasing local wines helps local wine grape growers and local economies.

This study provides the muscadine wine industry with estimates of WTP for locally produced muscadines and demonstrates that attitudes toward local wines and premium paid for local foods positively influence trying muscadine wine and WTP for locally produced muscadine.

The purpose of this study is to determine the likelihood of a USA Mid-Atlantic region consumers’ willingness to partake in a wine tasting event, an example of an agritourism activity, based on their responses to an Internet survey conducted from June 22 to 29, 2010.

Potential participants were screened and asked to participate if they resided in one of the states targeted (Delaware, New Jersey or Pennsylvania); were aged 21 years and older; were the primary food shopper for the household; and had previously attended an agritourism and/or direct marketing events or activities.

A logit model was developed based on responses from 972 consumers who participated in the 15-minute Internet survey to predict participation in wine tasting activity. Consumers who are more likely to attend an on-farm wine tasting event include those who learn about agritourism events through newspapers, think that the variety and price of produce is better at direct markets than supermarkets, are older than 50 years, have a graduate degree and are self-employed.

Empirical results will help agritourism operators enhance marketing efforts and develop profitable on-farm agricultural activities by identifying consumer segments likely to participate in wine tourism activities.

This paper helps identify consumer segments that are more likely to participate in a wine tasting event and provides marketers with the ability to target likely buyers based on corresponding demographic characteristics.

This paper identifies likely wine tasting participants based on demographics, psychographics and behavioral characteristics.