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ISSN 2047-2854 (PRINT) 2047-2862 (ONLINE)

11th International Conference on Business and Economic Development (ICBED) 2022

A Framework for wellbeing advocacy: Transforming lives for an inclusive world

Prof. (Dr) Padmakali Banerjee

Pro-Vice-Chancellor and Dean of Academics, Amity University Haryana, India


Challenge: In the contemporary era of geopolitical, economic, and medical upheaval in the aftermath of COVID-19 pandemic, facilitating holistic well-being of individuals and communities, especially young generation populace, has become an increasing challenge worldwide. Global policy deliberations have been constantly striving towards adopting the best practices in terms of counselling and mentoring in imparting value-based education towards enhancement of individual and community resilience, optimism, and well-being. Addressing the challenge of well-being by creating policy framework and instilling optimism should encourage integrated approach at the national and global levels in an inclusive manner. That is a prominent challenge that world leaders would welcome in terms of policy formulating and implementing. This in turn can be applied to the millions of youths studying in K-12 schools, colleges, and universities to create long-term impact in transforming their lives through Value-based Pedagogy.

Recommendations: Leaders can take up the challenge of enhancing global well-being by focusing on strengthening institutional framework towards facilitating and enhancing the level of optimism and holistic well-being on a sustainable basis and in compliance with the UN Sustainable Development Goals so that youth can be empowered to face global challenges.

G 20 Leaders may adopt an institutional collaborative approach by creating “Global Sustainable Well-Being Secretariat” for implementing policy interventions to enhance community well-being worldwide.

Bounded Rationality, Free Will and Consumer Choice: Exploring product-consumer relationship and influences beyond current paradigm of consumerism

Sarat C. Das

Dean (Research) at C3S, Spain & co-owns Aspire Business School, Barcelona, Spain, Regional Director (Partnership), Bucks New University (UK)


Since consumer consumption is restricted by budget constraint, which represents all the combinations of goods and services that a consumer may purchase given current prices within a stated income, the notion of ‘’free will’’ seems to be tethered to the ‘’preferences to consumption expenditures’’ and ‘’consumer demand curves’’. Is this tethered ‘’free will’’ similar to a bounded rationality (limited when individuals make decisions), i.e., consumers' preferences determined by changes in outcomes relative to a certain reference level"? The research speculates on what is rational action in the world of consumerism, which is to say the action chosen by reasoning, numerous actions that are rational (i.e., appropriate to goals) are taken without conscious deliberation or any deliberation at all. Since consumer consumption is restricted by budget constraint, which represents all the combinations of goods and services that a consumer may purchase given current prices within a given income, the notion of ''free will'' seems to be tethered to the ‘’preferences to consumption expenditures’’ and ‘’consumer demand curves’’. Is this tethered free will be similar to a bounded rationality (limited when individuals make decisions), i.e., consumers' preferences determined by changes in outcomes relative to a certain reference level"? Further, is bounded rationality in relation to consumer choice a departure from free will (humans do not undertake a full cost-benefit analysis to determine the optimal decision, but rather, choose an option that fulfills their adequacy criteria)? The discourse connects to the nomology of mind, the branch of science and philosophy concerned with the laws or principles governing the thought processes and operation of the mind, especially as defined by custom or culture, influence consumer choice that relates preferences to consumption expenditures, i.e, the way it analyzes how consumers maximize the desirability of their consumption as measured by their preferences subject to limitations on their expenditures, by maximizing utility subject to a consumer budget constraint. The research further pursues the question how the discourse on consumer choice will to be restricted to some from neural response to a phenomenon originating at amygdala and the prefrontal cortex, firing through C fibers and the limbic system, hence, arguing for upholding the neuroscience's notion of freedom (negates the conscious control of the start of the action). The research will also have a cursory glance at the utility maximization problem that poses the optimal decision problem -- how much of each available good or service to consume, taking into account a constraint on total spending (income), the prices of the goods and their preferences. This leads to the discourse of free will that connects to the concepts of advice, persuasion, deliberation, and prohibition.

Volatility Transmission Between the Japanese Stock Market and the Western Stock Market Indices

Serpil Kahraman and Merve Keser

Department of Economics, Yasar University, İzmir, Turkey


Stock markets are the main source of financial fragility and the spillover effect due to the high level of connectedness. This study focuses on the connectedness between the Japanese stock market indices and the major Western stock market indices by performing time and frequency-domain connectedness analysis for the period between 2002, Jan 4, and 2020, Sept 29. The findings of the time-domain analysis indicate that there is a high connectedness among stock market indices. Moreover, the net transmitter indices are the SPX and the AEX while net receiver indices are the AORD and the N225. The frequency-based analysis highlights that the connectedness among the markets in the long term contains more information in contrast to short term and medium term. Similarly, the time-domain analysis shows that the SPX is the net transmitter and the N225 is the net receiver market indices in long term. Moreover, the dynamic analysis results illustrate the turbulent times of the volatility spillover in the long term with the high and short-medium run with a low spillover index. Dynamically, time-domain and long-term frequency-domain frameworks’ findings give similar time variation illustrations.

Towards an environmental sustainability management accounting template

Alan Parkinson and Lynsie Chew

UCL School of Management, UK


In the 1980s, a recognition of the growing significance of environmental sustainability saw a momentum of pressure to go beyond financial reporting to include non-financial reports, with a focus on corporate governance and sustainability matters (Larrinaga and Bebbington, 2021). That momentum stemmed from general references to sustainable development by the International Union for Conservation of Nature (1980), through to defined references in the Brundtland Report (World Commission on Environment and Development, 1987), initiatives from the International Federation of Accountants (IFAC 2005). Further work by the GRI - Global Reporting Initiative (1999, 2016), and successive COP summits led to the establishment of the International Sustainability Standards Board (November 2021) by the International Financial Reporting Standards (IFRS) Foundation, linked to the International Accounting Standards Board. Currently, on a voluntary basis, many companies disclose sustainability initiatives and results, often based on the framework and methodology issued by the GRI. In some localities, aspects are now compulsory (e.g., France, Sweden, Brazil, South Africa, UK).  The reporting scope itself has evolved from, initially, the three pillars of people, planet, profit, wider scopes. The three evolved into four: human, social, economic, and environmental, and then into five: people, planet, prosperity, peace, and partnerships. The challenge to organisations is to identify what needs to be measured and how, and to be reported upon. This working paper explores how an organisation’s internal management accounting function can provide a template for that, and to good effect. As a base it draws upon the UNDSD (United Nations Division for Sustainable Development, 2001) recommendations that environmental management accounting should focus on identification, collection, analysis, and use of two types of information for internal decision making: physical information on the use, flows and destinies of energy, water, and materials (including wastes), and monetary information on environment-related costs, earnings, and savings. It builds on that base by identifying an examining what organisations are currently reporting upon and evaluating the strengths and weakness of such reports.

The societal transformation framework-state organized global financial predators’ tracking and blocking (SOGFP_TB)

Antoine Trad

Institute of Business and Information Systems Transformation Management, France


The continuous global financial, geopolitical, structural and societal crisis needs a holistic societal or geopolitical transformation framework. This framework can be important to predict global incoming wave of organized misdeeds. A holistic protective Financial & Technical (FinTech) activity is based on control, governance and audit prerequisites; such prerequisites are crucially needed to predict global financial predators before they execute their fatal misdeeds. These protective controlling processes depend on measurable framework variables, like Critical Success Factors (CSF), which evaluate the possibilities of possible predator’s financial misdeeds and tries to define sources of such organizations and even countries. The framework can be also used for the dependence of the evaluation of societal or organizational transformational processes, which can block global financial crimes, or a SOGFP_TB. This article discusses in depth the concept of a framework that can be applied to support SOGFP_TB, which can be a structural manner to detect global destructive financial crimes, by applying the Global Financial Crimes Analysis (GFCA), and for that goal a strategic vision is needed for the integration of FinTech risks and controls mitigation mechanisms. The GFCA is fundamental for the organization’s long-term societal and business longevity; and also, for combatting SOGFP. Besides all the previously presented facts, this article highlights SOGFP_TB’s importance for the organization, to optimally integrate the global economy in a coordinated, controlled, and above all in an ethical manner. Knowing that SOGFP_TB’s appliance, is complex, risky and difficult; but the SOGFP_TB is needed to combat the irregularities, like the Swiss Fatal Financial Traps (SFFT) ones, which are well organized and sealed

Cognitive biases and attitudes towards taxation

Małgorzata Magdalena Hybka

Poznan University of Economics and Business Department of Public Finance,


Since the first experiments conducted by A. Jenness in 1930s conformity to social norms has attracted considerable attention amongst the scientific community all over the world. It has been explored by both psychologists and economists. The concept of conformity also appears in the studies devoted to taxation. It must however be underlined that as the principal deterrents behind the decision to fulfil tax obligations are considered to be the penalties and social disapproval for these who are not following the rules the economists in this field are researching the shallowest level of tax conformity – namely tax compliance. Taxpayers similar to other actors on the economic scene are vulnerable to heuristics. Their actions may be influenced not only by rationality over the long term but be also driven by diversified biases. The main aim of this paper is to present the potential factors shaping taxpayers’ attitudes and decisions paying particular attention to the heuristics affecting financial decisions. First it discusses the concept of conformity giving a general overview of selected theories. Secondly it concentrates on certain principles of rationality in decision making and finally it characterises heuristics which may to some extend provide an explanation for certain behaviour patterns in the public sector field. The paper compares existing concepts and explains the relationships between them. It builds on the assimilation and combination of evidence from previously researched areas. It summarizes and integrates existing knowledge in order to present the phenomenon of tax compliance from the wider, not only economic, but also psychological and sociological perspective.

Exploring the impact of tax policies on small and medium scale enterprises’ (SMEs) performance in Nigerian economy

Eyitayo Francis Adanlawo 1 and Makhosazana Vezi-Magigaba2

Social Transformation Research Entity North-West University, Mafikeng Campus, South Africa 1

Department of Business Management, University of Zululand, South Africa2


Small and Medium Enterprises (SMEs) are very significant to the economic growth of many societies and countries at large. Contrastingly, SMEs have been contributing little to Nigeria Gross Domestic Products (GDP). This study aimed at exploring the effects of tax policies on the performance of SMEs. The Unicist Theory of business growth was used to underpin the study, the theory analysed the implications that multiple tax could have on the growth of SMEs in Nigeria. Survey method with close ended structured questionnaire was administered to 110 SMEs owners in three local government areas in Lagos State. Collected data were analyzed with descriptive statistics while formulated hypothesis was tested with Chi square method. Findings revealed that various Governmental policies on taxes significantly affect the performance of SMEs in Lagos State. The paper implicates a possible diversity for tax policies that will favour SMEs operator to make meaningful contributions to the economy. The study therefore recommends among other things that Government should design and implement the most effective ways of administering various tax policies that can enhance the growth of SMEs, while tax collection should be well defined to avoid multiple taxations by the three tiers of government. The study also recommends that taxes should be levied according to the growth of the business; sales, size, and profit; with consideration to enterprises’ ability to pay taxes regularly.

Responsibility of international organizations in supporting the green economy (Support and commitment to global green production)

Ghasemali Sabouri 1 and Dorna Ahmadi darani2

Board member of Islamic Azad university North branch of Tehran, Iran1

Phd student in Islamic Azad university2


The environment and its importance have always been emphasized by human societies, so much so that international law has been accepted by the United Nations as a way to explain and preserve it. Because alarming for the planet has led everyone, especially the United Nations, to work with the United Nations Environment Program (UNEP) to identify the key environmental indicators for the maintenance of international peace and security as the main task of the United Nations and Then the promotion of sustainable consumption and production practices will be the key to sustainable development. The importance of the role of international organizations such as the World Bank, the World Trade Organization, the Environment Union, and other organizations along with the United Nations in implementing the defined environmental goals is possible with the cooperation of the private sector, but the existence of numerous problems and current environmental Is a proof of inefficiency of the current programs. Since the greatest damage to the environment has been in line with economic goals, it is necessary to examine the support of green producers and find a way to reduce the brown economy (overuse of fossil and non-renewable resources) while maintaining effective efficiency and continuity of activity and competition in the economic field. In this article, citing Article 1 of the UN Charter on the maintaining of international peace and security, and the environment as one of the potential issues posing international challenges, a comprehensive treaty should be used using the capacity of international organizations, especially the United Nations. Implemented with a focus on green tax, so that industrialized countries are required to transfer green production technology and other countries are required to comply with it, and the consequences of non-implementation are regulated by green tax tools and serve the global environment.

Research on Inter-generational Socioeconomic Status Transmission of China

E Xie 1 and Yuxiang Xie2

School of Economics, Shandong University, China1

School of public finance& taxation Shandong University of Finance and Economics, China2


Based on the 2015 CGSS survey data, this paper integrates the educational and occupational mobility with the subjective socioeconomic status transmission between father and child into a single research framework. It investigates the influence of educational mobility and occupational mobility on inter-generational transmission using ordered logit models. The empirical results show that the social class has a strong inheritance, and the intergenerational class correlation is stronger than that of education and occupation. The middle- and low-class social classes assume an upward inter-generational trend, while the middle and upper class have the pressure of downward trend. The distribution of the father and the son in the middle class is relatively concentrated. It can be seen that both educational and occupational mobility are in a statistically significant positive relationship with the intergenerational transmission of socioeconomic status. However, their effects on the improvement of class change over time. Recently, the effect of education and occupation factors on the improvement of class weakens, and the phenomenon of class solidifying emerges. Intergenerational occupational mobility is more significant than intergenerational educational mobility in improving intergenerational class in the eastern and urban region, while the effect of educational mobility on the improvement of class is stronger than that of occupational mobility in western and rural region.

Sincerity-based trust and knowledge adoption in China

Michael Jijin Zhang

Department of Management Sacred Heart University, U.S.A.


Purpose of the research: This study sought to explore the influence of interpersonal trust on knowledge adoption in China. Despite being a key process in knowledge management (Desouza & Paquette, 2011), knowledge adoption (use or application) and its determinants have received scant attention in the extant literature. In exploring the linkage between interpersonal trust and knowledge adoption, the study focused on the relationship between sincerity-based trust that is highly valued in the Chinese society and Chinese employees’ propensity to adopt explicit and tacit knowledge shared by their coworkers. The results from the study increase our understanding of what influence knowledge adoption in the business environment of China.

Design/methodology: Data used in this study were collected from a survey of 243 MBA students at two universities in central China. Hierarchical regression analyses were employed to test the hypotheses that sincerity-based trust was positively related to adoption of explicit knowledge and to adoption of tacit knowledge, while controlling the effects of gender, age, years of employment and cognitive-based trust.

Results/findings: The regression analyses showed that sincerity-based trust was positively related to adoption of explicit knowledge at the 0.10 significance level and to adoption of tacit knowledge at the 0.01 significance level. While prior research had found cognition-based trust conducive to the use of tacit knowledge (Holste & Fields, 2010), this study indicated that sincerity-based trust had a separate effect on adoption of tacit and explicit knowledge.

Practical implications and Conclusions: The findings from this study suggest interpersonal trust such as sincerity-based trust may affect adoption of both explicit and tacit knowledge among Chinese employees. As multinational companies continue to invest and operate in China, these findings can help them better understand and harness the knowledge management processes to enhance their competitiveness in China. For one thing, the managers need to be mindful of the influence of trust in one’s sincerity and honesty on a Chinese employee’ propensity to adopt knowledge shared by others.

An analysis of residential land prices and fundamentals in Mauritius

Gopy-Ramdhany Narvada

Department of Finance & Accounting, University of Mauritius


This study dwells on an analysis of how fundamental factors affect residential land prices in Mauritius. A further aim is to depict if the fundamentals have the same effect on land prices at the national level, as well as the regional level. Regional differentiation in terms of urban and rural residential land prices is made, to explain how these regional differences are due to the influence of fundamental factors on land prices. A fixed-effect panel regression technique over the period 2000 – 2019 is used for the case of the Mauritian residential land market. It is found that the variable income is significant at the national level and in all regions, with a more significant influence on land prices in rural regions. Another variable found to be important in explaining land prices at the national level is population. In the urban region, the population was positively significant in explaining land prices unlike in rural regions. The interest rate was also negatively significant in explaining land prices in both urban and rural regions. Whilst supply-side factors were observed to be insignificant in explaining land prices. Thorough knowledge of the factors explaining regional land price differences is deemed important for policymakers

Assessing the impact of financial inclusion on economic growth: A comparative analysis between lower middle-income countries and upper middle-income countries

Narain K , Bhattu-Babajee R , Gopy-Ramdhany N and Seetanah B

University of Mauritius, Mauritius


Despite tremendous financial development, it has been increasingly acknowledged that financial systems are far from inclusive. With greater dynamism in the financial sector now, a critical evaluation around financial inclusion surfaces. The principal intention of this paper is to assess the impact of Financial Inclusion on Economic Growth in the Middle-Income countries. The evaluation concentrates on a comparative analysis between the Lower-Middle Income Countries and Upper Middle-Income Countries. The system Generalised Methods of Moments (GMM) model was adopted for a sample of 15 Lower-Middle Income Countries (LMICs) and 15 Upper Middle-Income Countries (UMICs) over the time period 2008 to 2019. Financial Inclusion was assessed by 3 dimensions, namely account ownership, demographic outreach, and outstanding loans. The results showed that in the UMICs, all dimensions of financial inclusion had a positive relationship with economic growth. On the other hand, while the first two dimensions establish a positive link with economic growth in the LMICs, outstanding loans had a negative and significant effect. As for Financial Stability, the bank Z-score left a positive and significant footprint on economic growth in the MICs, with the significance being more prominent in the UMICs. Non-performing loans as an indicator for financial instability had a strong and adverse impact on growth in the MICs. Also, the paper further extends the analysis to the effect of financial inclusion on financial stability owing to the existence of a potential trade-off. While, account ownership and demographic outreach improved financial stability, outstanding loans, nevertheless, exhibit a negative and significant impact on financial stability in the MICs.

The impact of mobile phone channels on brand awareness and brand choice

Manal Al-Mehrzi and Rahim Hussain

Dubai Business School, University of Dubai Dubai, United Arab Emirates


Due to the continuous technological advancement, mobile phones have become one of the most used tools among users around the world. Mobile phones now are more attractive and used by individuals than ever before (Green, 2003). Mobile marketing is a multi-way communication that enables the business to directly promote and engage with the customer (Nysveen, 2005). The focus of this paper is to examine the impact of mobile phone channels on brand awareness and brand choice. A conceptual model has been developed with 15 hypotheses. The channel members considered in this research are SMS marketing, email marketing, content marketing, in-app-marketing, games-based marketing, video marketing and social media marketing. A quantitative research method will be employed. Data will be collected from 250 to 300 targeted participants. It’s expected that mobile marketing channels have an impact the brand awareness and brand choice.

Adaptation of dynamic capabilities: A case of small-scale bakeries in a South African Metropolitan City

Siyolise Ntontela1 and Sizwe Mkwanazi2

University of Johannesburg Department of Quality and Operations Management1

Department of Business Management2


The paper explores and investigates how small-scale bakeries in the South African Metropolitan City adapt dynamic capabilities that exists in small-scale bakeries. Dynamic capabilities are known as clear and identifiable activities that lead to the creation of products, decision making in strategy, and they embrace risk taking. This paper also argues whether automation is part of dynamic capabilities in a small-scale bakery context. The approached used is purely quantitation in nature and survey questionnaire were designed to collect data.

Over a population of 400 bakeries, about 200 bakery managers and supervisors were handed questionnaires to complete and only 120 managed to participate and completed the survey. Key findings show a strong correlation between equipment and food safety and show a significant relationship between automation and dynamic capabilities in small-scale bakeries. The study’s findings show that automation is part of dynamic capabilities and contributes to the production process and profits in small-scale bakeries. This study concludes that automation and dynamic capabilities are correlated. The correlations shown in this study suggest that integrating automation and dynamic capabilities is critical. Such will lead to small-scale bakeries having improvement of production capacity, operational and financial performance.

Business Transformation Project’s Holistic Agile Management (BTPHAM)

Antoine Trad 1 and Damir Kalpic2

Institute of Business and Information Systems Transformation Management, France1

University of Zagreb Faculty of Electrical Engineering and Computing, Croatia2


This article proposes a Business Transformation Project (BTP), Holistic Agile Management (HAM), to support intensive agile transformations. A BTP assisted by HAM (BTPHAM) uses critical success factors and areas, natural programming language environment and a dynamic decision-making system to improve the enterprise’s Time to Market (TTM). BTPHAM supports all phases of a transformation project, and its concept is mainly based on existing standards, methodologies, and conventional practices. Complex markets and high levels of competition forces enterprises to integrate agile product and services management, in all of its value chains. A HAM approach forces the used transformation framework and the related set of existing frameworks, to synchronize all types of transformation activities, like the deployment of software components. Such a synchronization process may generate many problems, which are difficult to trace, and which can damage the cyclic development process. This framework’s originality is that it can be used in any stage of the transformation project and for any type of problem, and to synchronize BTPHAM’s coordination. The main limitations are the enterprise’s capacity to restructure and unbundle its legacy environments; and to integrate the BTPHAM in all its environments and implementation processes; which need the optimal BTP manager.

User perceptions of fake news sharing behavior on social media through social networking sites

Daniel Mican1, Luigia-Gabriela Sterie2 and Dan-Andrei Sitar-Taut3

Faculty of Economics and Business Administration, Babeş-Bolyai University, Cluj-Napoca, Romania, Department of Business Information Systems1

123Faculty of Economics and Business Administration, Babeş-Bolyai University, Cluj-Napoca, Romania,Department of Marketing2

123Faculty of Economics and Business Administration, Babeş-Bolyai University, Cluj-Napoca, Romania, Department of Business Information Systems3


In the age of information technology, online social networks are part of our daily lives and are the main source of obtaining and transmitting information, which can be a blessing or a curse. Although social networks facilitate access to news and information, one issue remains of serious significance, namely the phenomenon of fake news. The short time of spreading fake news in the online social environment is the main cause for concern, and users' attitudes towards fake news can facilitate or reduce its spread. Therefore, the main objective of the current study is to perform an overall analysis of users' perceptions on the behavior and attitudes of distributing fake news through social networks. To ensure a comprehensive interpretation of the research topic, we analyzed both the reasons behind the behavior of distributing fake news and the active or passive actions that users apply in relation to them. As verifying the authenticity of the source is an essential component of the preventive behavior of fake information distribution, an analysis of the action was performed to verify the credibility of the sources among users. Therefore, the detailed and joint analysis of the above variables gives a note of originality to this study. In addition, the results of the study have significant practical implications for social platforms and are intended to provide a better understanding of how online social network users perceive fake information and interact with it. More specifically, they can be used in the development of predictive models that have the role of automating the identification of fake news in the context of machine learning algorithms and big data.

Distant learning program in business education: an effective alternative to the traditional classroom in the Covid-19 Era

Onyiorah, Blessing Onyeka

Department of Vocational Education, Faculty of Education Chukwuemeka Odumegwu Ojukwu University, Igbariam Nigeria


The study examined distant learning program as an alternative to the traditional classroom for business education. The study reviewed the basic concepts of distant learning, traditional learning, technology, and overview of business education. It also looked at COVID 19 pandemic and the protocols. With this foundation, it examined the place of traditional learning and migration to innovative learning strategy.  Then it x-rayed the various challenges relating to curriculum, technology, and distant learning. The conclusion showed that distant learning should be welcomed in business education to align with the new normal of occasioned by the COVID 19 era. It is recommended that the students should be properly encouraged to key into the use of distant learning model. The government and education authorities should assist to equip secondary schools with the necessary online learning tools to enable comprehensive use of distant learning program to teach all topics to students.

Investing human capital in education for unlimited excellence in KSA

Hoda Ahmed Ibrahim Abdelnabi

Assistant Professor of Investment and Finance Arab East Colleges, Riyadh, KSA


The study aimed to shed light on the importance of investing human capital in education for distinction without borders and to identify human capital indicators, human capital theory, internal growth theory, and the importance of investing in human capital in education. The study problem was represented in the following main question: Is investment in Human capital in education a way to achieve sustainable development? The study relied on data issued by some international institutions such as the reports of the global capital index issued by the World Economic Forum, the World Bank report, the International Monetary Fund report, in addition to previous studies that dealt with human capital. The results of the study showed that human capital is the real wealth, as it abounds with young human capital with high capabilities that enable it to grow and develop, and there are large investments in education, impressive growth in enrollment rates, and equal opportunities for both genders at almost all levels of education. This requires specialized cadres and high technologies, in addition to This human capital index measures the current results of education and health policies quantitatively on future outputs, and this is what the strategy of the Kingdom of Saudi Arabia 2030 aims at. The study recommended the Develop a plan based on sustainable development of human capabilities and develop them to cope with future challenges that are heading towards technology and artificial intelligence as a type of human investment to obtain an education Excellence Without Borders. Building bridges of cooperation between Saudi universities and internationally accredited training centers inside and outside the Kingdom to support innovation, creativity, and motivation for Excellence Without Borders.

The art of student success: role of effective partnerships

Veronica Udeogalanya

Department of Economics and Finance Medgar Evers College of The City University of New York, U.S.A.


This paper examines the art of student success and the role of effective partnerships. The central question was what student success means, how it is measured, and who is responsible for student success in higher education. A five-component coordinated model was examined in this study namely (1) Students and their family; (2) The Community; (3) The Labor Market; (4) Academic Affairs; and (5) Student Affairs. Primary and secondary data were utilized for the study. Primary data were collected through questionnaires administered to selected faculty, students, families, academic affairs staff, student affairs staff, and community representatives using stratified and random sampling techniques. The primary data collected were analyzed using descriptive statistics. Secondary data were obtained from books, journals, newspaper articles, internet, and other publications. The results revealed that achieving student success took partnerships among the key stakeholders. The study also showed that it took the coordinated effort of all five components of the model to guarantee effective student confidence, responsibility, retention, graduation, and ultimate success in the labor market. The study recommends that colleges and universities recognize that student success does not happen in a vacuum. It takes the stakeholders in the five coordinated model working together to make student success happen. Furthermore, we opine that when students feel and see all stakeholders working together for their progress, it builds a foundation of trust and respect. This motivates the students to give their best effort knowing that the entire team is rooting for them to succeed. Our paper concludes that when the team of students, families, the community, academic affairs, and student affairs work in a coordinated way, the degree of student success is limited only by the creativity and imagination of all units in the team.

Role of Co-curricular Activities in Online Education During the Covid-19 Pandemic

Gennady Lomako and Summer Alana Aberdeen

Medgar Evers College The City University of New York, USA


Due to the Covid-19 Pandemic, during the past two years there have been changes in how higher education institutions support teaching, learning, research, service and more. While online learning has both pros and cons, we focused our research on the challenges that online learning poses to learners. We summarized our quantitative data of the students’ opinions by categories, such as difficulty learning, self-motivation, communication, and technology issues. The issues of communications and technology have largely been resolved by now. Institutions adopted technology such as Blackboard Collaborate, Echo360, or Zoom and loaned iPads and laptops to students in need. The other issues, such as learning difficulties and self-motivation, remain problematic. In our qualitative analysis, we identified and addressed the specific needs of a particular group reporting on issues of self-motivation. Quarantine compressed all aspects of students’ living into a single area: apartments became classrooms, libraries, theaters, and gyms. In surveys, students stated that during isolation it became difficult to self-motivate, maintain a calendar of assignments and due dates, and to manage time constructively. In our research, we identified co-curricular activities that helped students become more motivated and organized in all aspects of their education. Since co-curricular activities are primarily voluntary and are not graded and do not directly affect a student's grades, students do not feel obligated to perform a specific task and are more relaxed, involved, and social.  This environment allows students to collaborate and develop and use their skills and knowledge in different contexts. We would like to share our CIS department’s important experience and findings as well as the co-curricular activities that we developed during the pandemic to help students to overcome issues with quarantine isolation and online learning.

Modeling of the economic-political systems

Akaki Arsenashvili

Faculty of Economics and Business, Tbilisi State University, Tbilisi, Georgia


This article presents the general economic system, the main purpose of which is to meet all the basic needs of society. Important features of the economic system are described. The classification of the economic system according to the ability to meet the main goal is given. It also takes into account the fact that the essence of the economic system depends on the political system in society, which is constant at certain intervals of time, but can change at any time unknown in advance. Indicators of efficiency and effectiveness of the economic system are introduced, which give us information about the state of the economic system at a given time interval and at a given point in time, respectively. Based on the performed analysis, three types of tasks for optimal management of the economic system are posed. One simple optimal control example is presented for illustration.

Do the organizational proficiencies dominate in innovation and can manage the major factors of innovation? A Systematic Literature Review of Last 5 Decades

Mohammad Nazmi Newaz 1, Palto Datta 2 and Raju Mohammad Kamrul Alam3

University of Newcastle, Australia, and Senior Management Counsellor, Bangladesh Institute of Management (BIM), Bangladesh1

Regent College, UK2

RUDN University, Russia3


Innovation is the key to organizational success in the present complex and competitive business environment. Numerous factors are continuously affecting the innovative performances of the organizations. researchers across the globe, have pointed out different factors and, often, several thematic factors that have been proven with strong positive effect on the innovation activities and innovation outcomes.

This research was a part of the Doctoral Thesis, funded jointly by the University of Newcastle, Australia and Hunter Water, Australia. The research attempted to find out the most dominating factors of innovations in the organizations through an extensive systematic literature review that ranges from 1973 to 2021.

Resulting on the 102 individual influencing factors of innovation through the literature review, the researchers classified those factors into 10 thematic groups, e.g., culture, HRM functions, top management orientation, external environment, organizational proficiencies, leadership, knowledge management, market pressure and competition, technology adaptation and research and development. Besides, the researchers endeavoured to figure out the interrelationships among the identified dominating factors.

Finally, through couple of propositions, the research successfully identified 5 dominating factors of innovation, e.g., organizational proficiencies, external environment, culture, market pressure and competition, and HRM functions. Among 5, the factors of organizational proficiencies noticed the most dominating. The interrelationships between organizational proficiencies and external environment, culture, market pressure and competition, and HRM functions examined and delivered through an easy-to-understand diagram.

This robust research is very valuable, firstly, it has accumulated the factors of innovation from the studies of last 50 years, secondly, it has established 10 thematic factors of innovation, and thirdly, the research has figured out the most crucial thematic factor of innovation which accelerates innovation and can control the threats of other relevant factors of innovation.

Emergent post-pandemic supply chains issues: disruptions, logistics, resilience, and recovery

Simon J. Best

Assistant Professor, Medgar Evers College, City University of New York, USA


Supply chains suffer from disruption from time to time. Arguably, few of these complex networks have ever suffered from the range of multiple ripple effects as those caused by the “Black Swan” COVID-19 pandemic.  This paper, taking a multidisciplinary approach, analyzes the nature of the supply chain networks affected. This is in addition to the types of disruption caused, and the management of some industrial and multinational operations, in terms of the recovery, the related logistics, and the resilience of the partners and actors involved in the aftermath of the pandemic.      

The Pause, Pivot, and Pursuit of the Minority Business Build Back Economy, in the Post-Pandemic U.S. Transformed

John Flateau 1 and Sharon A. Higgins2

School of Business, Medgar Evers College, CUNY, USA1

Brooklyn MBDA Business Center, New York, USA2


Purpose of the Research: This paper examines and discusses the impact of the COVID-19 pandemic on minority-owned business enterprises (“MBEs”) as they paused to stay safe and save lives; pivoted into new markets and customers’ demands; and pursue new and innovative opportunities due to the major shifts in the global, regional, and local economies.

Design/Methodology: The methodologies used to gather data for this research gathered from The Pew Research Center; Office of Policy and Development (“OPAD”), Minority Business Development Agency (“MBDA”), U.S. Department of Commerce; U.S. Census Bureau; McKinsey Global Institute; AccentureThis research looks at MBEs in the United States.   Minorities, as defined by the MBDA are considered Black, Hispanic, Hasidic Jew, Asian, Asian-Pacific Islander, Native American, Alaska Native, Native Hawaiian.  Both quantitative and qualitative data were gathered and reviewed for this paper.

Results/Findings: Minorities will be the majority population by 2044 in the United States (“U.S.’)  MBEs make significant impact on the U.S. Gross Domestic product (“GDP”) each year, as they are the main employers in their communities. The productivity level of minorities’ workforce needs improvements, as the data suggests a lower average than the national economic standard.  From 2020 to 2022, MBEs sustained devastating blows as a result of the pauses in economic activity throughout the COVID- 19 pandemic.

Practical Implications: MBEs will become the proverbial “chief cornerstones” in building back the United States’ post COVID-19 pandemic economy.  However, with the disparity in the productivity rate, this could create a huge challenge in MBEs growth.

Conclusions: The hope is to present an engaging paper that will provide the readers with valuable insights about the key role the minority communities play in the United States economy, and on its future economic impact.

Corporate social responsibility in retail: employee perceptions of diversity: A case study analysis

Shebra Sanders 1 and Iris Billy2

Medgar Evers College, CUNY, USA1

Medgar Evers College, CUNY, USA2


The purpose of this study was to determine the relationships between the demographic characteristics (age, years of service, gender, and ethnicity) among a sample of a retailer’s store employees and their perceptions of the organization’s obligation to the diversity facet of Corporate Social Responsibility. Previous studies on corporate social responsibility, diversity, goal setting, CSR reporting mandates, and employee perceptions of CSR will be reviewed for this study. The diverse nature of the retail industry lends itself perfectly to a company culture committed to Corporate Social Responsibility (CSR) policies and practices. Store-level employees are often thought of as the face of the company, which is why their participation in CSR activities is good for business. The purpose of this study is to determine the relationships between the demographic characteristics (age, years of service, gender, and ethnicity) among a sample of a major retail store employees of their perception on the organization’s obligation to the diversity facet of Corporate Social Responsibility. Businesses giving back may not be thought of as a responsibility to society, but it is a part of everyday expectations by the public. Organizations donate time, resources, and/or money (Carroll, 2016). Major retailers generally participate in many cause-related marketing activities throughout the year, like coat drive campaigns or partnerships with the Breast Cancer Research Foundation. Effective CSR practices may positively contribute to an organization’s triple bottom line of economic, social, and environmental concerns. Organizations may also benefit in being viewed by its stakeholders (internal and external) as a good corporate citizen. The results of this study may not be generalizable for other retailers, or retail locations, due to population size and demographics. Based on the results, retailers in similar locations may improve employee CSR participation by effectively communicating diversity policies and practices.

Successfully Starting and Growing Black Businesses: For Entrepreneurs and Educators

Micah E. S. Crump

School of Business Medgar Evers College, CUNY, USA


This paper helps define the state of black entrepreneurship in the United States. Challenges and opportunities are laid out for black entrepreneurs to aid their success in starting and growing new businesses particularly in a post-pandemic world. Nuanced differences in black business formalization, social networks, entrepreneurial financing, opportunity recognition, strategic planning, STEM foundation, and customer discovery and validation processes are each addressed in how they can help improve black entrepreneurship and business ownership outcomes. Seven specific recommendations are provided and explained along with a checklist to aid primarily black entrepreneurs to start and grow their new businesses.

The impact of COVID-19 on the insurance industry

Yaffa Machnes 1 and Yochanan Shachmurove2

Bar-Ilan University, Israel1

City University of New York, USA2


This study analyses the impact of COVID-19 pandemics on the insurance industry. While COVID-19 increased morbidity and mortality other factors resulting from the pandemic benefit the industry. Overall, the response of the insurance industry to COVID-19 reflects other sectors in the market like transportation and trade. However, a structural downturn in the insurance industry like the one observed in 2016 was not found during the year 2020. We found that the insurance industry did not absorb extra losses during the year 2020 and did not suffer from the pandemics more than the economy as a whole. This article explores the past two decades and compares the structural break of the insurance industry in 2016 with that of 2020 due to the COVID-19 pandemic. In addition, during the year 2020, the returns to investors in the insurance industry were very similar to returns in the general market as measured by S&P500.

How assistive technology impacts college students and faculty

Susan J. Kowalewski and Humberto Hernandez Ariza

D’Youville University Buffalo, New York, USA


2019-2020 enrollment data for universities and colleges reports that the number of students enrolled exclusively in online programs increased from 3.5 million to 5.8 million, an increase from 17.6 percent to 22.7 percent. This is higher than previously reported.  The number of programs and courses that institutions of higher education offer online are continuing to increase in response to meeting the needs of a diverse population of students. Yet, a group that is significantly impacted in meeting specific needs with online learning are students diagnosed with one or more disabilities.  According to the United States (U.S.) National Council on Disability, in 2015 approximately 11 percent of undergraduate students have a disability, equating to approximately 11 million individuals.  In supporting students with disabilities, a larger population are positively impacted.  Providing typed transcripts or closed caption for videos and lectures is imperative for an individual with a hearing disability, but it also improves learning for students where English is a second language.  Few institutions would argue the importance of providing needed access and support to students, yet there may be a disconnect with faculty having the understanding and training to support online learning utilizing Assistive Technology (AT).  Possessing the skillset to implement AT in online courses lags significantly.  This paper evaluates current trends related to college students with disabilities and the impact of providing AT to improve online academic success, the role faculty play in developing and teaching courses that implement AT, as well as the responsibility of college and university administration in supporting the implementation of these strategies.  Examples of implementation of AT in business courses is presented and discussed.

Impact of macroeconomic and idiosyncratic uncertainty on firms' financing decisions: Evidence from SADC countries

Lydie Myriam Marcelle , Amelot Ushad Subadar Agathee and Boopendrah Seetanah

Department of Finance and Accounting, Faculty of Law and Management University of Mauritius, Reduit, Mauritius


Purpose of Study: The purpose of this study is to investigate the impact of idiosyncratic and macroeconomic risks on financing decision on SADC countries. 

Methodology: Employing data from the African Financials database, the analysis is conducted over a ten-year period spanning from 2008 - 2019 for 309 companies.  Unit Root Fisher Chi- Square Test and Granger Causality test were employed to test for unidirectional and bidirectional relationships cross-sectionally.  Pooled Regression Analysis- (Fixed and Random effect) was employed as main topology for panel regression analysis.

Findings: The study confirmed that companies become risk averse when there is an increase in idiosyncratic and macroeconomic risk and therefore take less leverage whichever type of financing decision is opted.  In other words, when there are high idiosyncratic risks, debt to equity ratio is low.  Banking and financial institutions charge a higher risk premium for companies having a high-risk profile.  Due to this, the cost of debt financing augments.  Therefore, companies employ internal financing and reduce debts due to high bankruptcy risk and costs.  This finding is in line with the pecking order theory (Myers and Majluf, 1984).  Conversely, a significant positive linkage is reported in Namibia and South Africa.  This estimate posits that these companies use more debts during periods of high idiosyncratic risk which corresponds to the trade- off theory. 

Originality: The study is among one of the pioneering works underpinning the idiosyncratic risk and macroeconomic risk on capital structure and relying on a large number of companies across the SADC region.  In this respect, it adds contribution to the existing literature on risks and capital structure to the socio-economic goals of the SADC region.

Building career skills through virtual exchange

Schiro Withanachchi 1, Dominique Darmon 2 and Poonyawat Sreesing3

School of Business Queens College, City University of New York, USA1

Faculty of Management & Organisation The Hague University of Applied Sciences, Netherlands2

Martin de Tours School of Management and Economics Assumption University, Thailand3


As globalization expands and interactions between people increase around the world, organizations need individuals with skills that are not only acquired from traditional curricula. Furthermore, the World Economic Forum has noted that, by 2025, 97 million new jobs will be created with the need for soft skills such as leadership, intercultural fluency, and teamwork. Therefore, higher education institutions may need to develop high-impact pedagogies with internationalized curriculums that bring results beyond classrooms and articulate the link between internationalization and employability. Business educators identified these career success skills through a virtual exchange project known as Collaborative Online International Learning (COIL) in two pairs of courses, Thailand-USA and the Netherlands-USA. Students from Queens College, City University of New York in the U.S. (n=54), Assumption University in Thailand (n=22), and The Hague University of Applied Sciences in the Netherlands (n=19) engaged in a shared assignment across borders through COIL. Using discussions, questionnaires with a five-point Likert scale, and regression analysis, authors discovered that, by using virtual exchange in higher education instruction with an innovative COIL project that included intercultural communication, students build competencies that employers seek. Students specifically enhanced their ability to speak publicly (oral communications), to interact respectfully with all people (intercultural fluency), and to identify their strengths relevant to career goals (career management). The objective of this study is to encourage university leadership to promote and prioritize COIL in order to increase content knowledge and employability.