https://ojs.amhinternational.com/index.php/jebs/issue/feed Journal of Economics and Behavioral Studies 2020-05-22T11:31:56-04:00 Editor jebs@amhinternational.com Open Journal Systems <p><strong>Journal of Economics and Behavioral Studies (JEBS)</strong> is an open access peer reviewed journal (ISSN 2220-6140) that publishes original unpublished research work. JEBS provides a forum for the intellectual exchange of academic research in the fields of economics, finance and behavioral studies. JEBS publishes 6 issues per year.</p> <p><img src="/public/site/images/admin/cc_by2.png"></p> <p>This work is licensed under a&nbsp;<a href="http://creativecommons.org/licenses/by/4.0/" target="_blank" rel="license noopener">Creative Commons Attribution 4.0 International License</a></p> https://ojs.amhinternational.com/index.php/jebs/article/view/2939 Re-visiting the External Debt-Economic Growth Question in Zimbabwe 2020-05-22T11:31:56-04:00 Brian Tavonga Mazorodze brianmazorodze@gmail.com <p>This paper quantifies the threshold effect of external debt on economic growth in Zimbabwe between 1980 and 2016. Results from the Fully Modified Ordinary Least Squares (FMOLS) technique confirm that external debt (up to 57% of GDP) raises economic growth. Beyond the 57% of GDP threshold, external debt lowers growth. A separate analysis of variance shows that the mean GDP per capita is lower by 11% when external debt exceeds 57%. From the sample average, the 57% of GDP threshold suggests that debt stock above 4.7 billion USD can be detrimental to the country’s long-run growth prospects. Currently, Zimbabwe’s external debt is standing at over 11 billion USD which is way above the estimated threshold level. Therefore, the policy implication arising from this paper is that the country’s Finance Minister needs to pursue debt-reduction strategies given that the country’s stock of external debt is already sitting in the growth-reducing territory.</p> 2020-05-22T06:49:35-04:00 Copyright (c) 2020 Brian Tavonga Mazorodze https://ojs.amhinternational.com/index.php/jebs/article/view/2992 The Governance of State-Owned Enterprises in Africa: an analysis of selected cases 2020-05-22T11:31:53-04:00 Misheck Mutize mmutize@gmail.com Ejigayhu Tefera mtzmis001@gsb.uct.ac.za <p>Whilst some literature is of the view that; it is nearly impossible to cultivate good corporate governance culture in state-owned enterprises (SOEs), others believe that new strategies of implementing corporate governance systems together with political will can deliver SOEs out of their efficiency doldrums. This paper presents a scientific analysis of the contentious view on the possibility of creating efficient governance mechanisms in SOEs, explores the effective cost for governance failures in SOEs in Kenya, Zimbabwe, South Africa and Ethiopia. The paper makes conclusions and recommendation that the determinant factor to the success of SOEs in African countries is underpinned on the response of central government to the challenges of SOEs. Structural reforms, good governance, clear objectives and efficiency requires governments to take a decisive position. As a lasting remedial action, knowing which entities and when to offload them through privatisation, is an option in addressing the governance challenges in African SOEs. For strategic SOEs, the paper recommends that governments should consider listing them on public stock exchanges.</p> 2020-05-22T10:58:53-04:00 Copyright (c) 2020 Misheck Mutize, Ejigayhu Tefera https://ojs.amhinternational.com/index.php/jebs/article/view/3028 Business Strategies and Competitive Advantage: Evidence from Flour Mill Companies in Lagos State, Nigeria 2020-05-22T11:31:51-04:00 Egwakhe, A. J. jegwakhe@gmail.com Falana, R. B. jegwakhe@gmail.com Asikhia, O. O. jegwakhe@gmail.com Magaji, N. jegwakhe@gmail.com <p>The authors argued from business strategies perspective to understand competitive advantage among homogenous producers. The population consisted of top and functional managers of flour mill companies in Lagos State, Nigeria. Cross sectional survey research design was adopted and primary data were collated and used. The research instrument was an adapted questionnaire. Its validity and reliability were statistically determined. Six hundred and twenty copies of the questionnaire were administered and 605 retrieved. Econometric equation was formulated and multiple regression analysis was employed for data analysis. Business strategies were found to have significantly affected competitive advantage. The study recommended product differentiation and portfolio diversification in order to achieve competitive advantage.</p> 2020-05-22T11:11:54-04:00 Copyright (c) 2020 Egwakhe, A. J., Falana, R. B., Asikhia, O. O., Magaji, N. https://ojs.amhinternational.com/index.php/jebs/article/view/3022 Financial Performance in Indonesian Companies: The Role of Environmental Performance and Environmental Disclosure 2020-05-22T11:31:49-04:00 Noegrahini Lastiningsih Noegrahini@gmail.com Khoirul Aswar aswar_law@yahoo.com Ermawati . gema_upn@yahoo.com <p><span lang="EN-US">The aim of this study is to acquire empirical evidence that environmental performance and environmental disclosure has an influence on financial performance. The key differentiation between this study and previous studies is the use of different variables and measurement methods. The hypothesis of this study is based on stakeholder theory and legitimation theory. The purposive sampling method was used to collect data from manufacture companies listed in the Indonesian Stock Exchange and the PROPER 2016-2018 program. Instruments for classic assumptions have been tested. Afterwards, multiple linear regression is used as the analysis method, and secondary data types with the use of documentation methods. The outcome of this study shows that environmental performance and environmental disclosure has a significantly positive influence towards financial performance</span><span lang="IN">.</span></p> 2020-05-22T11:17:58-04:00 Copyright (c) 2020 Noegrahini Lastiningsih, Khoirul Aswar, Ermawati . https://ojs.amhinternational.com/index.php/jebs/article/view/2976 Impact of real exchange rate fluctuations on aggregate cocoa and coffee exports in Sierra Leone 2020-05-22T11:31:47-04:00 Pabai Fofanah fofanahpabai@yahoo.com <p>The regression and the vector autoregressive VAR models have been employed in this analysis. I use the autodistributed lag regression model to estimate both the short and the long-run impacts. In the VAR model, orthogonalized impulse response functions are employed to estimate the short-run. The regression result shows that while depreciation of the RER increases aggregate cocoa and coffee exports AGX in the current year, this variable is not significant in determining AGX in Sierra Leone. This is due to the fact that AGX have long gestation periods and until this period is over, suppliers cannot actually raise their output and hence exports. The negative effect of the one period lag of RER variable on AGX can be attributed to the fact that in the long run, depreciation in the nominal exchange rate leads to real exchange rate depreciation. This will lead to increase in cost of imported farming inputs in domestic currency terms. The reduction in imports that follows decreases the output and hence cocoa and coffee exports. However, this variable is not significant in determining AGX in Sierra Leone. An increase in the orthogonalized shock to the first difference of log RER causes a short series of increases in first difference of log AGX followed by a decrease, followed by an increase that dies out after four periods. The null hypothesis that the lag of first difference of log RER does not Granger-cause the lag of first difference of AGX cannot be rejected. The paper concluded that in the short and long-run, the RER should not be taken as policy variable to influence AGX in Sierra Leone.</p> 2020-05-22T11:24:16-04:00 Copyright (c) 2020 Pabai Fofanah