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Abstract - Influence of Perceived Time and Entrepreneurial Skills Constraints on Entrepreneurship Interest among Final Year Undergraduate and Honours Students at the University of Fort Hare
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Abstract: Several scholarly efforts have been previously exerted in investigating student entrepreneurship interest in the developed countries, and several studies have contributed in this direction, yet little was achieved in South Africa. The main aim of this study was to empirically assess perceived time and entrepreneurial skills constraints as possible barriers to entrepreneurial interest among a sample of 366 (205 (56%) male and 161 (46%) female) final year undergraduate and postgraduate ‘honours’ students of a previously disadvantaged university in the Eastern Cape Province of South Africa, using the survey research design, and a structured validated questionnaire. Three hypotheses were stated and tested using Multiple Regression Analysis. The results revealed that perceived time and entrepreneurial skills constraints jointly influenced entrepreneurship interest, F (2, 363) = 25.887; R2 = 0.120; p<. 01. The results further revealed that perceived time constraint independently influenced entrepreneurship interest, (β = 0.226; t= 4.108; p< .01). Likewise, the results showed that entrepreneurial skills constraint independently influenced entrepreneurship interest, (β = 0.188; t= 3.415; p< .01). The findings are valuable to the policy makers and professionals in promoting the spirit of entrepreneurship among the youth, with the consequence decline rate of joblessness. Keywords: Entrepreneurship interest, entrepreneurial skills constraint, perceived time constraint, university students, South Africa. |
Abstract - The Risk of Nanotechnology: A Challenge to the Insurance Industry
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Abstract: Nanotechnology poses a challenge for the modern man. Aside from the many benefits that nanotechnological growth may bring, it exposes our civilization to an increasing number of new risks, creating hazards that are currently difficult to foresee. Nanotechnological developments may have a negative impact on the natural environment; some researchers claim that they may even jeopardize the very existence of humankind. Existence of defined threats opens up space for the functioning of insurance. Answering the need for nanotechnological risk management, the insurance sector should develop a strategy that would offer a reduction of risk aversion (especially among producers) and augment further development of nanotechnology-based production methods. However, this leads to questions whether nanotechnology-related risk is an insurable risk and whether it is technically feasible at this time to draft such an insurance offer. The present publication attempts to answer these questions. Keywords: Nanotechnology, risk of nanotechnology, insurable risk, insurance industry, mutual insurance. |
Abstract - Modelling the Dynamic Impact of Replanting Subsidy on Tea Production in Sri Lanka: Policy Analysis Using the ARDL Model Approach
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Abstract: The tea industry in Sri Lanka plays a vital role in the economy with its direct and indirect contribution to the gross domestic products, employment, and foreign exchange earnings. The successive governments have introduced subsidy schemes for replanting to increase tea production. However, according to the authors' knowledge, there are no comprehensive quantitative studies undertaken to effectively investigate and quantify the effect of tea replanting subsidy scheme on tea production of the various geographic elevations of tea cultivating lands. The significant contribution of this paper is the quantification of the impact of tea replanting subsidy schemes on tea production in the short-run and long-run at different altitudes. This research takes time series data from 1970 to 2018 of three different heights or elevations-high, medium, and low. The Autoregressive Distributed Lag (ARDL) Model examines the short-run and long-run dynamics of the subsidy scheme on tea production. The results reveal that there is a cointegration between tea production and three variables; tea replanting subsidy, tea prices and tea bearing area; in all three elevations. But tea replanting subsidy is not significant in long run for all three elevations, separately. In the short-run analysis, the impact of replanting subsidy is significant only for tea production in low heights with one-year time lag. Since the study reveals that tea replanting subsidy increases, the tea production of low elevation also increases, and almost 60% of the tea extent and 73% of the total tea production gained from low heights, we recommend that the government continue the tea replanting subsidy schemes as it is benefitted by whole tea industry in long run. Keywords: ARDL Approach, Cost of Production, Tea Production, Tea Prices, Tea Replanting Subsidy, Sri Lanka. |
Abstract - Review of the Causes of 1907 Panic and Aftermath
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Abstract: The Panic of 1907 is often known as the Panic that initiated the development of the Federal Reserve System (Bordo, 1985). The Panic of 1907 was “The beginning of the end of unregulated capital markets and banking system without the lender of the last resort in the United States.” (Fohlin, Gehrig and Haas, 2015, page 2). Numerous causes lead to the Panic of 1907 including: shadow banking, the San Francisco earthquake and fire, stock price manipulation, seasonal agriculture fluctuations, an outflow of gold, and higher interest rates. This paper reviews the primary literature on these causes, and how they led to the Panic of 1907 and the subsequent regulations culminating in the Federal Reserve Bank. Keywords: 1907 Panic, Shadow Banks, NY Clearing House, 1906 San Francisco Earthquake and Fire "Silent Crush". |
Abstract - Transformation of the Forecast Assessment of Expected Credit Losses in Monitoring and Assessment of Credit Risk in Commercial Banks
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Abstract: The article presents the results of the systematization of issues arising in connection with the transformation of the banks forecast assessment of expected credit losses during the monitoring and evaluation of credit risk in commercial banks. Based on the data obtained on the introduction of IFRS 9 "Financial instruments" into the banking sector, it is concluded that in banking practice there is uncertainty regarding the long-term impact of credit risk, and there are significant difficulties with the use of a large amount of additional information, which creates certain difficulties in calculating future credit losses of banks. It is noted that the current use of the model of predictive assessment of expected credit losses of customers in the monitoring and evaluation of credit risk in the bank should take into account the selected collective or individual basis of assessment. The article presents a comprehensive approach to the use of the impairment model of expected losses in banking as a basic tool for modeling expected credit losses in order to form provisions for impairment with the allocation. The modification of this model will depend on the specifics of the bank's credit activities and portfolio, the types of its financial instruments, the sources of available information, as well as the IT systems used. Validation of this model will reduce the expected credit losses, reduce the amount of estimated reserves, as well as improve the efficiency of the Bank as a whole. Keywords: Assessment of expected credit losses, credit risk, default, bank borrower, financial instruments. |