Journal of Business and Economic Analysis

This study examines the relationship between international trade and exchange rate uncertainty in Eswatini. The specific objectives were to establish the nature of relationship between import and exchange rate uncertainty, relationship between export trade and exchange rate uncertainty, and the causal relationship between import, export and exchange rate uncertainty. Annual data ranging from 1972 to 2018 were collected and analyzed using Engle–Granger cointegration and Granger causality techniques. Exchange rate uncertainty is measured using symmetric GARCH (1,1) model of the nominal exchange rate. Estimates from the augmented Dickey–Fuller (ADF) unit root test indicate that all the data were stationary at first difference. The cointegration results show evidence of long-run relationship between import and exchange rate uncertainty. The results also show that export is significantly related to exchange rate uncertainty in the long-run. Granger causality results evince the existence of a unidirectional causality from export to exchange rate uncertainty, and a bidirectional causal relationship between import and exchange rate uncertainty. The magnitude of influence of exchange rate uncertainty, however, is greater than that of import. The study recommends amongst others that monetary authorities should develop strategies that will stimulate demand for local goods so as to boost the influence of import on exchange rate uncertainty.

This study uses a combination of archival and documentary research, as well as quantitative analysis, to uncover the evolution and impact of banking regulations on the economy of Brunei Darussalam. Available evidence suggests that throughout most of the 20th century, regulators adopted a laissez-faire approach with minimal regulations in the banking industry. However, financial crises tend to trigger regulatory reforms. Growing household indebtedness and bankruptcies were precursors to the introduction of major institutional changes, including the establishment of a centralized monetary and financial regulatory authority, Autoriti Monetari Brunei Darussalam in 2011 (later renamed the Brunei Darussalam Central Bank (BDCB) in 2021), the Brunei Darussalam Protection Corporation in 2011, as well the Credit Bureau in 2012. Various financial regulations covering personal credit/financing, interest rates, credit card usage, and the Total Debt Service Ratio (TDSR) requirements have been introduced to promote financial stability and consumer financial protection. This has coincided with an evident decline in private and household indebtedness as well as non-performing loans/financing among banks. However, promoting financial stability and supporting economic growth can be a tricky balancing act for regulators to navigate. This study finds that the lack of local investment opportunities limits the possibility for surplus funds to circulate in the economy. In terms of policy recommendations, the role of financial regulations is discussed in the context of addressing global challenges such as inequality and climate change.

The Sustainable Development Goals (SDGs) serve as a common aim that brings many nations together, led by the United Nations with the purpose to achieve a set of 17 targets by 2030. One very important factor in achieving these aims is finance. The advancement in financial development all around the world will be able to speed up achieving SDGs where governments, policymakers, and people will be able to grow the economic development and infrastructure of the country, provide adequate job opportunities for many people, reduce poverty, as well as improve sustainability around the world. In opposition to that, some researchers see the advancement in financial development as an activity that will jeopardize achieving SDGs as financial development might lead to the production of carbon footprints at a faster rate. Using bibliometric analysis, this paper was able to discover that there is an increase in attention and interest in the field with the rise in publications in recent years, especially in 2022. Furthermore, this paper also identifies research hotspots within the field while also finding and analyzing the most impactful authors and publications on the topic. Ultimately, this paper hopes to provide a better definition for the relationship between financial development and SDGs with the use of bibliometric analysis, where data is collected from the Scopus database and analyzed using VOSviewer.

The purpose of this paper is to examine the hierarchical effects of Public Health Responses (PHRs) and fiscal policy measures (FPMs) on the tax morale (TM) of entrepreneurial firms in Nigeria during the COVID-19 pandemic. The theoretical basis for the study is based on social contract theory (SCT) and fiscal exchange theory (FET), which oblige entrepreneurs to pay taxes to the state in return for public goods and social services. Using a cross-sectional survey design, we collected primary data from 177 professional managers of entrepreneurial firms in Nigeria using online questionnaires. The sampled firms were accessed with the support of the Lagos Chamber of Commerce. Data collected at a point in time reflecting respondents’ views on the impact of PHRs and FPMs on TM were analyzed using hierarchical regression analysis. Three estimates emerged from the hierarchical regression analyses. The first estimation suggests that the PHRs have a significant positive effect on the TM of entrepreneurial firms. The second estimate suggests that the FPMs do not have a significant positive effect on the TM of entrepreneurial firms. The third estimation found that the interactive effects of PHRs and FPMs do not have a significant positive effect on the TM of entrepreneurial firms. The study, although modest, contributes to the literature on the entrepreneurial behavior of firms and tax morals in a period of economic uncertainty. The study provides valuable insights and validates the social contract and fiscal exchange theories in the recessionary period.

The purpose of this research is to plug the research gap in the literature that lies in the association of quality of work life (QWL) and employee performance (EMP) in general, and hospitality industry. So, the research tries to develop and test a theoretical model to address the direct and indirect impact of QWL on EMP with job satisfaction (JSF) and life satisfaction (LSF) as the mediating variables. The research gap identified through the literature review was that there was no empirical study that explored this nexus. The research methodology uses interpretivist paradigm using structural equation modeling (SEM) to test the 10 hypotheses with a sample size of 206 middle-level managers chosen from 22 five-star hotels. Results indicated that QWL had positive significant relationship on JSF, LSF and EMP. LSF had a positive and significant relationship with EMP ($\beta =0.60$; $t=14.33$; $\mathrm{\text{alpha}}<0.01$), the QWL also had a significant and positive relationship with the LFS in the hospitality industry ($\beta =0.3$; $t=3.94$; $\mathrm{\text{alpha}}<0.01$), JFS and LSF had positive and significant relationship in hospitality industry ($\beta =0.46$; $t=6.74$; $\mathrm{\text{alpha}}<0.01$), QWL had a positive and significant relationship with EMP ($\beta =0.27$; $t=3.23$; $\mathrm{\text{alpha}}<0.01$), but JSF had no significant relationship with EMP. The indirect relationship has revealed that JSF mediates a significant positive relationship between QWL and life satisfaction.