Archives of Business Research

Beyond g>r: Transitional Dynamics of the Debt-to-GDP Ratio

2026-01-06T15:52:23+00:00

The present paper analyzes the transitional dynamics of the government-debt-to-GDP ratio in an economy with constant interest rates, economic growth, and fiscal deficit growth. By explicitly modeling the joint evolution of government debt, fiscal deficits, and GDP, the present paper derives closed-form expressions for the debt-to-GDP ratio and characterizes its dynamic behavior. The analysis shows that even when standard long-run sustainability conditions—such as an interest rate lower than the economic growth rate—are satisfied, the debt-to-GDP ratio need not evolve monotonically. Instead, it may exhibit a single-peaked trajectory, rising temporarily before converging in the long run. The present paper identifies precise conditions under which such non-monotonic dynamics arise and illustrates them with numerical examples.

Applied Comparatio; A Tool for Fairness in Compensation Management

2026-01-04T18:30:27+00:00

Loath or like it, compensation is a sensitive management decision mandate in every organisation and often evokes a lot of tension and requires further insights to understand its link to other organizational outcomes such as employee engagement, happiness and performance. Compensation management is multi dimensional and encompasses key variables such as equity, justice, competencies and performance management. This study compares the compensation approach for three global companies based in Ghana, Senegal and Kenya. The study proposes a framework for fair compensation and introduces the concept of “applied comparatio” that brings “an art and a science” perspective to facilitate fair compensation decisions in any organisation. That art and science includes a coherent compensation philosophy, solid quantitative and qualitative comparatio principles in design and practice to ensure fair processes and outcomes. It concludes that there is a relationship between compensation and employee engagement outcomes on performance, retention and satisfaction.

Strategic Intent of Hospital Mergers and Acquisitions: Then and Now

2025-12-30T01:15:24+00:00

The hospital mergers-and-acquisitions (M&A) trend is reviewed in terms of duration in and impact on US health care. This information supports an understanding of the strategic intent of M&As. Hospital mergers and acquisitions fostered the creation of integrated delivery networks to enhance competitive and volume-profit capacity. The value of this initial strategic intent is discussed in relation to today’s emerging population-community health and health status emphasis. Subsequent insights foster views about future expectations of and behaviors from the national system. M&As are projected to continue albeit with an expanded focus on population and community health services.

A Study of Marketing Strategies for Electricity Pricing Plans Considering Willingness to Pay for Renewable Energy

2025-12-28T02:50:16+00:00

This research aims to create a power plan that takes into account consumer preferences in order to promote the spread of renewable energy. First, we built a mathematical model using a five-point questionnaire and conjoint cards. Next, we conducted a survey reflecting consumer attitudes and comparing them to existing power plans. Ultimately, we analyzed the obtained data using a mathematical model to clarify the amount of renewable energy that consumers accept and their needs.

How to Promote Manufacturing with Inward FDI in Developing Countries? Lessons from China

2025-12-18T05:51:53+00:00

Inward foreign direct investment (FDI) has been prioritized as a key instrument for promoting manufacturing in developing economies, yet its expected gains have not materialized in many countries. As an exception, China represents the most prominent case of a developing country that strategically harnessed FDI to achieve large-scale manufacturing upgrading. Using the Chinese manufacturing data, this paper shows how effective outcomes depend on strategic policy direction, coordinated institutions, and sustained investments in human capital, infrastructure, and supplier development. The policy implications include (a) shifts attention from FDI attraction to FDI absorption, (b) emphasizing performance-based incentives, (c) targeted industrial policies, (d) strengthened local capability systems, and (e) improved infrastructure.

The Tula River in the Framework of Regional Development

2025-11-28T17:13:21+00:00

This article will address the pollution of the Tula River, located in the state of Hidalgo, Mexico. In the first part, brief theoretical aspects of water pollution are addressed, the geographical factors such as the territorial area of the Central Region where this entity is located and the other entities of this area are discussed. The development of this chapter continues with demographic elements such as the population, density and poverty, of the states of this región. Some economic aspects are touched, such as the total GDP, manufacturing and services, foreign trade and foreign investment of this region are also mentioned, to make a comparison with the other states of this geographical demarcation, the geographical location of the Tula River and its high pollution is continued. The objective of this research is the following: to determine if this aquifer torrent is contaminated. As a preliminary conclusion, I consider the following: Hidalgo is located in the Central Region of Mexico, it is an entity, it does not bring together a significant volume of population, its population density is not high like that of Mexico City. In relation to the economic aspects Hidalgo does not have a strong economic presence, as is the generation of the total GDP, manufacturing and the service sector, compared to the other entities of this economic region. The Tula River, the most important in this state, it is very polluted.

Unstoppable Advance of Artificial Intelligence: Emergence of a New Learning Environment

2026-01-15T10:46:19+00:00

This phenomenological inquiry was based on the significance of disruptions caused by Artificial Intelligence in educational settings. The study explored the experiences of five graduate students using ChatGPT-4 to develop a literature review assignment in an online research course. Three textual datasets included 1) analytic memos; 2) student reflections; and 3) instructor-student conversations following assignment completion. Findings regarding analytic memos revealed that teaching students how to use AI proved invaluable as it created pressure-free learning, leading to improved cognitive transformation. Student reflections and conversations indicated that using AI responsibly and ethically resulted in intentional and reliable knowledge creation; and necessitated an informed understanding of its advantages as well as its practical limitations. While limited to five students with one course activity, this study highlighted the value of teaching students responsible use of AI which promoted metacognition, ethical judgment, and research literacy, as students critically evaluated rather than uncritically adopted AI-generated content. Importantly, when students face intellectually demanding yet attainable tasks, responsible AI integration helps them embrace the complexity and ambiguity of the new learning environment instead of bypassing these critical learning opportunities.

Demographic Change and the Sustainability of European Pension Systems

2026-01-13T14:34:47+00:00

European pension systems are increasingly challenged by profound demographic transformations, most notably population ageing and declining fertility rates. As Barr and Diamond underline, “pension systems are uniquely sensitive to demographic change because their liabilities extend far into the future” (Barr and Diamond, 2008, p. 3). These trends raise critical concerns regarding both the financial sustainability and the social adequacy of retirement systems, particularly those relying predominantly on pay-as-you-go financing. This essay addresses the following research question: to what extent do demographic changes threaten the sustainability of European pension systems, and how have European countries adapted their institutional arrangements in response?

Analysing a Season of Strikes in Ghana; A Multi Disciplinary Perspective

2026-01-08T19:08:31+00:00

Industrial strikes have become a feature of Ghana’s industrial relations system for the past twenty years. In the public sector, most strikes bother on perceptions of inequity in compensation and benefits administration. This article analyzes strikes by three workers unions in Ghana namely Teachers & Education Workers Union (TEWU), Ghana Medical Association (GMA) and Allied Health Workers Group (HWG) during the period from February 2006 to June 2006. These strikes had a rippling effect on the economy. This study frames this period as the “season of strikes” in Ghana’s industrial relations history under the government of the New Patriotic Party (NPP) led by President J.A. Kuffour. Using an integrated conceptual framework namely Tichy’s Technical Political Culture organisational change model and industrial relations systems theory, it offers suggestions on how to address public sector compensation issues in a sustainable manner within the context of public sector industrial relations and public policy and highlights the need to strengthen state institutions which have the legal mandate to manage industrial relations in Ghana.

Earnings Management, Executive Digital Literacy, Investor Sentiment, and ESG Performance: Evidence from LQ-45 Firms in Indonesia

2026-01-06T15:27:04+00:00

This study investigates earnings management in firms included in the LQ-45 index of the Indonesian capital market. The analysis focuses on executive digital literacy, investor sentiment, and Environmental, Social, and Governance (ESG) performance, alongside several firm-level financial controls. Panel data consisting of 84 firm-year observations are analyzed using a Fixed Effects Model (FEM) to account for unobserved, time-invariant firm-specific characteristics. The estimation results indicate that the regression model is jointly significant and explains a moderate proportion of the variation in earnings management. However, executive digital literacy, investor sentiment, and ESG performance do not show statistically significant associations with earnings management. By contrast, operating cash flow and leverage are negatively and significantly related to earnings management, suggesting that firms with stronger internal cash generation and greater debt-related monitoring tend to exhibit lower levels of opportunistic reporting. Profitability, firm size, and sales growth are not found to be significant determinants. Taken together, after controlling for firm-specific heterogeneity, variations in earnings management appear to be more closely associated with firms’ financial conditions than with non-financial characteristics within the sampled firms.

Ethical Considerations in Big Data Mining: Balancing Innovation and Responsibility

2026-01-03T19:52:58+00:00

As organizations increasingly rely on big data analytics to guide decision-making, ethical considerations surrounding privacy, accountability, fairness, and inclusivity have become central to responsible data governance. While large-scale data mining offers significant benefits in efficiency, fraud detection, and public administration, it also poses substantial risks when safeguards are inadequate. This paper examines ethical challenges associated with big data mining through the lenses of administrative law, case law, and public policy. Using recent judicial decisions and a hypothetical federal agency initiative as a framework, the paper analyzes the consequences of unauthorized data access, opaque algorithmic decision-making, and insufficient oversight. It concludes by proposing best practices and governance strategies to balance technological innovation with ethical responsibility.

From the Pay-as-you-go System to the Contributory Pension System and IMSS Bienestar in Mexico: A Long Journey, a Dubious Long-term Solution

2025-12-29T07:12:31+00:00

International Differences and Harmonization in EU

2025-12-22T16:49:41+00:00

Different countries have contributed to the development of accounting over the centuries. When archaeologists discover ancient remains in the Middle East, almost all with letters or numbers on them, it is a form of accounting: the costs of war or celebration or construction, lists of taxes due or paid. It is now very well documented that the origin of written numbers and written words is closely related to the need to keep and update accounts.
The Romans developed sophisticated forms of single-entry accounting from which, for example, farm profits could be calculated. Later, the growing complexity of business in northern Italy in the late middle Ages led to the emergence of a dual system. And even later, the existence of a wealthy merchant class and the need for large investments in large projects led to the public subscription of share capital in Norway in the 17th century. Next, the growing separation of ownership from management fueled the need for audit in 19th century Britain. Many European countries contributed to the development of accounting: France led the development of legal control over accounting, Scotland brought us the accounting profession, and Germany standardized formats for financial statements.

Financial Performance and Dividend Policy on Firm Value: The Moderating Role of Corporate Governance in Indonesian State-Owned Enterprises

2025-12-17T05:33:54+00:00

This study aims to analyze the effect of financial performance and dividend policy on firm value, with corporate governance as a moderating variable. The population of this study was state-owned enterprises listed on the Indonesia Stock Exchange (IDX) for the 2021-2024 period. Data collection used a purposive sampling method, with 56 annual reports of state-owned enterprises as a sample. The analysis used Multiple Linear Regression Analysis and the Moderated Linear Regression (MRA) test. The results indicate that financial performance and dividend policy have a significant positive effect on firm value. Meanwhile, financial performance and dividend policy, with corporate governance as a moderating variable, do not significantly affect firm value.

Enhancing Internal Marketing and Brand Equity in Ghana's Pharmaceutical Firms using the PRECEDE Framework

2025-10-24T16:53:30+01:00

Background: Internal marketing and branding are essential for building strong brand equity within organisations. The shift in focus from traditional strategies to branding is now a key competitive tool for pharmaceutical companies. However, there is insufficient comprehension and successful execution of internal marketing and branding strategies in Ghana's pharmaceutical industry, especially concerning concerns regarding counterfeit medications and increasing foreign competition. This research examined how local pharmaceutical companies engage their staff through internal marketing and branding. Methods: This study employed a quantitative cross-sectional approach. The study used a multistage sampling technique to select 750 participants from five Ghanaian pharmaceutical companies. The data were collected in two phases (pretest and posttest). Data were collected from participants using both in-person and online questionnaires via a structured questionnaire. Results: The research indicated that internal marketing and branding significantly enhanced internal brand equity. Pre-intervention analysis demonstrated moderate, although statistically significant, correlations, suggesting a present but constrained influence. Post-intervention results indicated reinforced benefits, validating that organised internal methods significantly improved employees’ brand understanding, commitment, and engagement. Conclusion: The intervention illustrated that internal strategies must be deliberately organized and constantly upheld to attain significant internal brand equity. These findings highlight the significance of employee-centric branding and marketing initiatives in strengthening internal company identity.

Has Trump’s Tariffs on Japanese Products Lowered the Stock Prices in Japan?

2026-01-14T13:13:22+00:00

The second Trump administration announced that it would impose reciprocal tariffs on many countries, including friendly ones, in April 2025. The unprecedented high tariff rates except for the first half of the 1900s came as a significant shock to countries all over the world because many economies, especially developed ones have been exploring the path to free trade through lowering tariffs or removing regulations by concluding trade agreements etc. Japan was no exception. This study analyzes the impact of Trump's tariffs on Japanese stock prices. For example, maintaining the status quo in Japan's policy interest rate amid a possible increase suggests a rise in stock prices. A cut in the US policy interest rate would mean a narrowing of the interest rate differential between Japan and the US (US interest rates are significantly higher than Japan's), which would lead to a fall in Japanese stock prices through a stronger Japanese currency, yen. Furthermore, President Trump's posts (SNS), in Japan's case, are generally thought to have had a negative effect on Japanese stock prices. The suggestion of a significant increase in tariff rates by the post is one example of this. This study examines factors that have both positive and negative effects on Japanese stocks and consider the causes of changes in Japanese stock prices. Meanwhile, this study analyzes macroeconomic variables that are thought to affect stock prices: exchange rates and interest rates. The results show that various statements, policy announcements, and posts by President Trump had no impact on Japanese stock prices in a short time; only the exchange rate affected them. Furthermore, exchange rate shocks only affected stock prices for a few days.

Financial Inflows and Poverty Rate in Nigeria

2026-01-09T16:58:57+00:00

Povertylevel has gained massive attention as an important societal concern particularly since its emergence nearly forty years ago. Universally, the role of these financial inflows is recognized as relevant resources to finance development and reduce poverty level. However, Nigeria remains and offers a compelling case study within the context of developing economies, particularly regarding sustainable development action points. Despite being the most populous and one of Africa’s largest economies, Nigeria seems to be lagging behind in the actualization of the targets set for achieving the United Nations’ Sustainable Development Goals (SDGs) of poverty reduction as a result of financial constraints. Therefore, this study examined the effect of financial inflows on poverty rate in Nigeria between 1990 to 2024. The study employed Fully Modified Ordinary Least Square, with inference at 5% significance level. The findings of the study reveal that in the long run, foreign portfolio investment significantly reduces poverty, 2.37% decline in poverty, external debt significantly increases poverty. Other inflows, including foreign aid, foreign direct investment, and diaspora remittances, show negative and positive but statistically insignificant long-run effects respectively. The study concludes that financial inflows exert differential and context-specific impacts on Nigeria’s poverty rate. Based on the findings of this study, policies should focus on attracting productive investments that create employment and improve poverty reduction. Simultaneously, debt management strategies must ensure that borrowing is aligned with poverty-reducing projects, avoiding excessive or poorly utilized external debt that could intensify socio-economic vulnerabilities.