REVIEW ARTICLE | June 20, 2024
Alternative Dispute Settlement in International Law: Resolving Commercial Disputes through Arbitration
Elizabeth A. Nkongho
Page no 149-166 |
DOI: 10.36348/sjef.2024.v08i06.001
The increasing volume of international trade, coupled with the computer-nature of many of these relationships, has led to greater reliance on arbitration to resolve contractual disputes. This settlement of disputes by a non-judicial third party is increasingly called for, in international. Contracts because it is cheaper, quicker, and more private than resolving disputes through litigation. Equally important, however, is the fact that it can take place in a neutral location. The increase trade with countries such as China, Japan and Korea where mediation rather than litigation of disputes is traditional, has given added impetus to this trend. The growing attractiveness has resulted in the establishment of arbitration centers in world capitals such as London, Cairo, Hong Kong and Stockholm and major cities as Geneva and New York. Recognition and enforcement of international arbitration agreements and awards is generally controlled through multilateral treaties. An outgrowth of this trend has been the emergence of several major arbitral institutions that have conducted their own sets of rules and procedures. However, the parties to a contract are free to opt for a more informal or ad hoc arbitration arrangement based on their own set of guidelines. Such agreements are legally enforceable as long as the parties have agreed to abide by the arbitrator’s decision. In Cameroon however, since the passage of the OHADA Treaty was signed and ratified in 2000, it is applicable in the territory of Cameroon. This is the first treaty of its kind in Africa to deal with arbitration matters sometimes referred to as well.
ORIGINAL RESEARCH ARTICLE | June 20, 2024
The Impact of Fiscal Policy on Economic Growth in Lao PDR
Somwang Kidoikhammuan, Khampheng Kingkhambang, Khammai Bounphone, Phuangmaly Siharath, Anousone Chanthilath
Page no 167-173 |
DOI: 10.36348/sjef.2024.v08i06.002
There has been various studies research on the Impact of the Fiscal Policy on Economic Growth by testing the Wagner’s Law and Keynes theory. This study holds two objectives, the first objective is to review a performance of the implementation government expenditure, and second objective is to test on the government expenditure contributes to the economic growth in the Lao PDR. To reach these two objectives, this study applies two methodologies. The first methodology is descriptive approach to respond for the first objective, and second methodology is bound testing approach and vector error correction approach to respond for second. This study is applied for time series data in terms of annual data from 1981 to 2014 in all models. The source of the data is mostly the website of the Asia Development Bank (ADB) year 2016. The results of the first methodology shows that the performance of the government expenditure continued increase rapidly, especially in 1986, 1997 and policy changed in 2012-2013 in terms of current expenditure for salary and capital expenditure directly affected to real Gross Domestic Products growth. The results of the second methodology shows that the Keynes theory and Wagner’s Law are significant and satisfied for the Lao economy in the long run. It meant that government expenditure has directly contributed RGDP, and vice versa. However, in the short run are not significant and unsatisfied in any lag.
ORIGINAL RESEARCH ARTICLE | June 21, 2024
Effect of Bank Credit to the Private Sector on the Performance of Manufacturing Sector in Nigeria
Kingsley Nwagu, John C. Udeagbala
Page no 174-184 |
DOI: 10.36348/sjef.2024.v08i06.003
The study investigated the effect of bank credit to the private sector on the performance of manufacturing sector in Nigeria, from 1981 – 2021. The objective of the study is to determine the effect of bank credit to the private sector (CPS) on the manufacturing output in Nigeria. To carry out the study, data were sourced from the Central Bank of Nigeria statistical bulletin and National Bureau of Statistics for various years. The dependent variable for the study was manufacturing output while the proxies for exploratory variable include; credit to the private sector (CPS); interest and exchange rates. For analysis and estimation, Autoregressive Distributed Lag (ARDL) method was adopted. Augmented Dicker Fuller (ADF) tests for stationarity showed that the variables were integrated at first level while ARDL Bound tests established a cointegration relationship of the variables. The result of the study revealed that credit to the private sector (CPS), interest rate; and exchange rate (independent variables) on the aggregate accounted for 93.9% of the total variations on manufacturing output (dependent variable) in Nigeria during the study period while 6.1% was due to stochastic error. The result further found out exchange rate had a positive coefficient value and a significant impact on manufacturing output in Nigeria during the period of study while other explanatory variables that include credit to the private sector and interest rate were statistically insignificant on manufacturing GDP during the study period. On the basis of the findings, the researcher recommends that Central bank of Nigeria as an apex bank should apart from using both direct and indirect controls should strengthen the use of moral suasion to encourage banks not to relent in granting the sector as the government endeavours to diversify the revenue sources of the economy. Secondly, government and Central Bank of Nigeria (the apex regulatory body of banks) should take bold steps and use all necessary economic and financial policies and regulations to make lending a single digit interest rate in Nigeria especially in a critical sector like agriculture.
ORIGINAL RESEARCH ARTICLE | June 21, 2024
The Role of Product Innovation Capability in Increasing Competitive Advantage
Aris Mardiyono, Gita Sugiyarti
Page no 185-196 |
DOI: 10.36348/sjef.2024.v08i06.004
The aim of this research is to analyze the role of product innovation capabilities on competitive advantage. The population of this research is consumers who shop at the Ada supermarket in the city of Semarang, Indonesia. Samples were taken from 125 respondents who were randomly selected. Data collection by distributing questionnaires to Ada Supermarket customers. The questionnaires were distributed using closed statements with alternative answers according to a Likert scale. 5 alternative answers, 1 (strongly disagree), 2 (disagree), 3 (disagree), 4 (agree) and 5 (strongly agree). The analysis tool uses SEM AMOS version 22. The findings of this research are that there is a positive and significant influence between proactive power, competitor orientation, flexibility of customer tastes on product innovation capabilities. There is a positive and significant influence between proactive power, flexibility of customer tastes and product innovation ability on competitive advantage.
ORIGINAL RESEARCH ARTICLE | June 22, 2024
Analysis of the Influences of Factors on the Online Business Results of Shopee Vietnam
Co Huy Le, Dang Tra Mi, Dang Gia Khiem
Page no 197-208 |
DOI: 10.36348/sjef.2024.v08i06.005
The business results of a commercial enterprise are a comparative relationship between the results achieved during business processes and the investment costs funded to achieve those results. Business results reflect input resource exploitation, utilization, and management to achieve each enterprise's business aims. In reality, different factors affect the business results of enterprises in general and Shopee Vietnam in particular, including microeconomic, macroeconomic, and industry environment factors. With a business analysis research approach, in this article, the authors investigate the factors affecting Shopee Vietnam's online business performance: Online product factors of Shopee; Economic, financial, and customer income factors; Online payment method factors of Shopee; Product pricing strategy factors of Shopee; Cultural and social factors; scientific, technological, and online shopping experience factors and Competitive factors in online business to develop a linear regression model to determine the extent of these factors impact on the online business result of Shopee Vietnam.
ORIGINAL RESEARCH ARTICLE | June 29, 2024
Are there Variations in Business Strategies adopted by Islamic Financial Institutions in Different Regions?
Soud Almutairi, Sazali Zainal Abidin, Noor Azlinna Azizan, Thuraya Farhana Said
Page no 209-219 |
DOI: 10.36348/sjef.2024.v08i06.006
Islamic finance has emerged as a significant and dynamic sector within the global financial industry. This unique segment of the global economy has witnessed significant growth in recent years, with institutions in both regions playing a pivotal role in its development. With its unique principles and values grounded in Shariah law, Islamic financial institutions (IFIs) have expanded their presence in various regions, including the Middle East and South-East Asia. This paper investigates the similarities and differences in the business strategies adopted by IFIs in these two distinct geographical regions. This paper conducts a comprehensive analysis of the business strategies of Islamic financial institutions in these two regions, highlighting key similarities and differences. The study utilizes a combination of primary and secondary data, including financial reports, academic literature, and expert opinions. By analyzing the regulatory frameworks, market dynamics, and cultural factors influencing IFIs, this paper sheds light on the strategies that have enabled their growth and sustainability. Utilizing empirical data and case studies, this study contributes to the understanding of Islamic finance as a global phenomenon while highlighting the significance of regional nuances in shaping IFIs' strategies. Understanding the strategies employed by these institutions is crucial for policymakers, investors, and industry stakeholders. The findings indicate that while both regions share common principles of Islamic finance, they exhibit distinct approaches in terms of product offerings, regulatory frameworks, and market expansion strategies.