Annals of Spiru Haret University. Economic Series

10

Authors: Dalia DREIHER, Milana ISRAELI

In this paper we review the principles of incorporation innovation into government-led, public systems such as the Israeli healthcare system and the Israeli education system. We suggest some recommendations regarding the benefits of introducing innovation, the “dos and don’ts” of incorporating innovation, and some metrics that can be used to monitor the progress of this process, with focus on digital technology, artificial intelligence, and big data as common themes in both fields.

14

Authors: Irena TODOROVA

The report presents the objective need to maintain a high level of motivation and effectiveness of training to achieve high-quality professional performance of official duties among the employees of the Ministry of Internal Affairs. The activity of the state administration should correspond to the high public expectations for professional competence, legality, integrity, correctness, and responsibility. Therefore, the measurement of the motivation factor is a natural necessity, determining the managerial impact of the management team for the formation of specific behavior among employees, aimed at achieving a quality professional achievement in the performance of official duties and preventing corrupt behavior.

17

Authors: Kennedy OLUNG’O, Wilfred Isioma UKPERE

The outbreak of the corona virus affected peoples’ way of life hugely across the globe. The resulting effects shocked even the most advanced companies. The effect of the virus has not only affected the health and well-being of people, but also their economic well-being. Globally, various governments introduced mitigating measures including lockdowns, restrictions on movements, curfews, social distancing, mask wearing and, finally, vaccination programs. This study aimed to establish how COVID-19 affected the labor market in Kenya; how the pandemic affected workers differently; what new skills were required for workers to cope with the pandemic; and training programs that were initiated for workers during and after the pandemic. The study gathered information from a group of key stakeholders, totaling 20, both from the public and private sectors.

17

Authors: Oluwaleke Ebenezer AKINDIPE, Abdulrasheed Olajide LAWAL, Debbie Oluwajenyo AKHIMIE

The study aims to show how effective risk management can be implemented in the Nigerian banking industry, as well as how various risks associated with Nigerian banks' performance can be mitigated by following the sustainable banking principle, which encourages effective risk management in Nigerian banks. A survey research design was used in this study. The population of the study is 19,982 members of staff that are in all the Access Bank branches across Nigeria. The officers that are needed for this research are management staff, risk officers, sustainability officers and accountants. The estimated number of risk officers and sustainability officers in all the Access bank branches across Nigeria are 1650 and 1805 respectively. The total relevant officers for this research are 257 in number which are selected from five major branches and the Headquarters of access bank in the whole of Nigeria. The sample size was 157. Data collected was analysed using statistical package for social science students (SPSS) while Chi-square was used to test the hypotheses formulated. The two hypotheses which were tested in the research work showed a clear indication of positive contribution of sustainability principles adoption on risk management, profitability, and bank reputation in Access Bank Plc. The two hypotheses tested showed chi-square test values of 11.949 and 15.834 with a p. Value of 0.018 and 0.0003 which shows that the tests are statistically significant at 5% significance level. It was concluded that the banks' goodwill had increased tremendously because of their sustainability, which boosted their external image and attracted more customers through word-of-mouth advertising, which is very effective in Nigeria. The government should therefore encourage banks to adopt sustainable banking as an important component of their critical strategy for long-term goals and sustainability that improve people's lives, according to the recommendation.

18

Authors: Tinashe R MUSHONGA, Wilfred Isioma UKPERE

This paper aims to establish the nexus between organizational downsizing and employees’ continuance commitment in the transport and logistics industry in Zimbabwe. There has been an ongoing economic downturn in many Sub-Saharan African countries over the years, which has directly impacted on industrial growth. Faced with harsh economic realities, many organisations in Zimbabwe have resorted to frantic organisational downsizing to stay afloat. Despite the wide use of organisational downsizing across industries, its effects on employee continuous commitment remains equivocal. To successfully achieve the research objectives, this paper used an Explanatory Sequential Mixed Method, and collected data in a sequential manner starting with surveys and then following up with interviews. The study’s results demonstrated that frantic organisational downsizing in Zimbabwean transport and logistic organisations was exacerbated by the economic crisis faced by almost every sector of the economy. Interestingly, the results of the study suggested a positive effect of downsizing on employees’ continuance commitment with the downsized organisation. However, some negative psychological effects of frenzied organisational downsizing process were rampantly reported.

19

Authors: Akingbade U. AIMOLA, Nicholas M. ODHIAMBO

The main objective of this paper is to review literature on the Fiscal Theory of the Price Level (FTPL) and its validity in price level determination for both developed and developing economies. FTPL may be understood on the categorisation of the fiscal regime into two types, namely, the Ricardian and non-Ricardian regimes. Empirical evidence for the validity of FTPL on price level determination depends on dominant characteristics of the policy regime. The Ricardian regime does not hold for FTPL, while the non-Ricardian regime holds for FTPL. Based on surveyed empirical studies, time series and panel analysis were used through various estimation methods in the validation of FTPL. Most of the findings from the studies reviewed in this paper validated the FTPL. This means that inflationary episodes tend to be influenced by fiscal dominant regimes. The study concludes that the conduct of fiscal policy influences price dynamics. Hence, fiscal variables should be considered by the central bank in its monetary policy rule.

22

Authors: Calvin MABASO, Cikizwa MABUDE, Jeremy MITONGA-MONGA

South Africa is faced with the challenge of frequent, lengthy, and violent strikes, especially in the mining sector. It is argued that the challenge of labour unrest can be addressed through meaningful employee participation in decision-making. The main objective of this research was to explore whether poor employee participation in decision-making contributes to labour unrest in the South African mining sector. To be precise, mineworkers frequently engage in violent strikes that negatively impact mining organisations, their employees, the economy, and mining communities. A qualitative research approach was employed using semi-structured interviews to collect data from employees who occupy low levels in a mining organisation. The findings show that poor employee participation in decision-making in the South African mining sector contributes to labour unrest. A positive relationship between poor employee participation and labour unrest is established; therefore, the mining management should implement corrective measures to ensure meaningful employee participation in decision-making that significantly reduces strike action. The research highlighted the issue of poor employee participation in decision-making and the impact on labour unrest.

22

Authors: Abraham Oketooyin GBADEBO, Yusuf Olatunji OYEDEKO

The study examines effect of tactical asset allocation on risk and return in the Nigerian stock market. The study covers the period of 2005 to 2020. Purposive sampling was employed. 90 regularly traded firms were considered as a filter on the sample size. The monthly stock prices, market index, risk-free rate ownership shareholdings, market capitalization, book value of equity, earnings before interest and taxes, total assets and tactical asset allocation were the data used in this study. The study gathered data from the CBN statistical bulletin, Nigeria of Exchange Website and Standard and Poor (S&P). The Fama-MacBeth two-step regression method was employed. The study found that tactical asset allocation shows that it insignificantly improves return and significantly reduces risk under the whole sample sub-period except for the sub-periods in the Nigerian stock market. Thus, tactical asset allocation is a short-term investment strategy that could be used in making optimal decisions in terms of maximizing return and minimizing risk in the Nigerian stock market. The study recommended that tactical asset allocation is a short-term market timing strategy which can be used in Nigerian stock market to maximize return and minimize risk against buy and hold strategy which is passive and long-term in nature.

27

Authors: Calvin MABASO

The Financial Service Sector is facing significant challenges in employee productivity. In order to enhance productivity amongst employees, total rewards could assist the financial service sector in enhancing productivity. The current study aimed to explore the role of total rewards in productivity enhancement in the financial service sector. The importance of this study is to aid financial service sector organisations in implementing and developing the appropriate rewards systems to fit the need of current employees to ensure perceived productivity. A qualitative approach using thematic analysis employed for the study. The current study’s findings have indicated that total rewards significantly impact employee productivity and that financial and non-financial rewards effectively improve employee productivity. The findings have also indicated that the structure of reward systems and reward systems overall impact productivity. This study provided critical practical guidelines that financial service sector organisations could use to develop and implement a total rewards strategy valued by employees, which enhances productivity.