Current Issue : July-September Volume : 2023 Issue Number : 3 Articles : 5 Articles
Collective self-reliance, inward-looking regionalism, and delinking from the dominant relationships that prevailed in the international economic system in the form of regional economic integration and cooperation were the solution identified by the Pan-African leaders as a potential strategy for restructuring the fragmented African region into a more coherent and viable economic space. This article interrogates the applicability and understanding of Regional Integration within the ECCAS Region while determining the influence Informal Cross Border Trade has had on economic integration in this sub region. The study uses economic integration theories to analyze the implementation of regional economic integration and its effectiveness. The article applies a qualitative research method with a cross sectional design to study a multilevel issue involved in regional integration. It aimed to explain and predict phenomena based on empirical data obtained through interviews using close structured and unstructured interview guide. The study revealed that despite efforts to institutionalize regional integration in the ECCAS region, structural challenges remain a significant impediment to intra-regional trade. Informal cross-border traders consolidate what has come to be regarded as the “invisible” integration of Africa’s economies through their involvement in a range of goods and services, resulting in transnational networks, culture and kinship. These can only be effective if African countries adopt a self-reliant and inward-looking economic integration strategy....
After entering the host country, multinational corporations often adopt a series of localization strategies in order to overcome the maladjustment caused by the inertia of some corporations when operating in the host country. This paper selects the corporate social responsibility inertia, which is most easily ignored in the corporate organizational inertia, as the analysis point to explore the impact of corporate social responsibility inertia on corporate performance and market. This paper analyzes three inertia dimensions through the combination of stakeholder theory and corporate social responsibility: structural inertia, environmental protection inertia and moral inertia. And use fixed effects mode in econometrics to empirically test the market performance data of multinational corporations in China from 2017 to 2022. The research finds that the structural inertia of corporate social responsibility negatively affects corporate performance. The moral inertia and environmental protection inertia of corporate social responsibility effects on corporation market performance is shown as a Kuznets curve. Through the improvement of localization strategy, corporations can overcome the inertia of the original country....
At the current juncture, the global economy is facing adverse supply side shocks amid the ongoing war in Ukraine. The persistent energy crisis and a potential flare-up in bottlenecks in global value chains are expected to further fuel inflationary pressures. Against the background of escalating prices, central banks have already started increasing the key interest rates. At the same time, given the worsening economic outlook, fears of a global recession have intensified. However, recent empirical evidence shows that a tightening monetary policy is not necessarily contractionary. In this regard, the aim of this paper is to investigate the existence of a Neo-Fisher effect in Hungary, Poland and Romania. Results show that a permanent tightening of the monetary policy, identified through long run restrictions within a vector autoregressive model, is expansionary and inflationary, contrary to the common knowledge regarding the effects of a temporary increase in interest rates. Under these circumstances, the ongoing process of normalizing monetary policy is not automatically leading to a recession in selected Central and Eastern European countries. The importance of anchoring inflation expectations is also highlighted....
The 21st century is an era of both opportunities and challenges. With the rapid economic development of our country, the enterprise culture derived from the modern enterprise management thought has been widely paid attention to by managers. The quality of people’s life has been significantly improved, and the traditional business management mode is no longer applicable to modern enterprises. Humanistic care is a means used by enterprises to balance the gap between dreams and reality, and fully respect people’s emotional needs. Enhance the sense of ownership and responsibility of employees to take the enterprise as their home, so as to reduce or even avoid many unnecessary disputes and contradictions, and improve the happiness index of employees and the competitive advantage of the enterprise. It is necessary to analyze the humanistic care in enterprise management and find problems in time, and then put forward effective improvement measures....
Best practices of companies listed on the Warsaw Stock Exchange (hereinafter: BPLC 2021) are the rules for creating and applying an effective corporate governance system. These rules pertain to information, control, motivation and organisational areas. The attitude of companies to rules regarding internal systems and functions that enable ongoing control and mitigation of business risks is an important aspect of the improvement of supervision effectiveness. This paper focuses on Rule III (Internal systems and functions), which promotes appropriate design and application of internal corporate governance mechanisms, i.e., internal control, compliance and risk management systems as well as the internal audit function. The paper presents an analysis of information regarding compliance with internal systems and functions that has been reported by selected WSE listed companies. Its aim was to find out to what extent companies comply with the promoted solutions strengthening internal corporate governance mechanisms, which rules are applied by companies to a limited extent and which are not applied at all. The analysis results allowed presenting the stance of the management boards of the analysed companies regarding the need to introduce additional independent internal corporate governance mechanisms. The analysis indicates that it is often difficult for the management board (agent) to see the role played by the internal auditor in an independent assessment of the internal control system as positive....
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