A model of secularism in the state of nature

The issue of secularization has been extensively discussed within the Economics of Religion. However, the related issue of secularism has received little, if any, attention. Moreover, social sciences have only debated secularism in the context of state. This paper disaggregates religion and secularism into a number of analytically tractable strands and explores the possibility of secularism in the state of nature from different perspectives. The incidence of secularism in the state of nature is shown to be contingent on the level of aggregation, the reference groups and the dimensions of religion under consideration, and the cost of religious contest. It is also shown that the belief regarding the externalities of individual religious practice is the key determinant of the incidence of secularism, while the degree of exclusivity of religion moderates/accentuates the effect of the aforesaid belief. Finally, it is argued that a class of stateless settings is inherently conducive to constitutionally secular states. But it is also shown that unconditionally secular individuals are not necessary for a secular society and, by implication, state.     

A comprehensive model of information search and processing behaviour of mutual fund investors

Understanding the investment behaviour, specifically information search and processing behaviour of mutual fund (MF) investors is a key to the effective marketing of MF schemes, and yet we have only limited understanding of it. This study proposes and validates a model of information search and processing of MF investors. The proposed model is arrived at by combining the limited insights from the existing studies dispersed across multiple domains of literature, viz., Traditional Finance, Behavioural Finance and Consumer Behaviour. The model suggests that: (i) MF investors’ subjective knowledge (SK) negatively impacts their perceived purchase risk (PPR); (ii) MF investors’ SK positively impacts their purchase decision involvement (PDI); (iii) PPR negatively impacts their PDI; (iv) PDI positively impacts their depth of information search (DIS) and information processing behaviour (DIP); and (v) DIS positively impacts their DIP. The model is empirically validated through structural equation modelling of data collected from a survey of 268 MF investors. The implications of the model, as are relevant for the MF marketers and the policymakers, are also discussed.     

Alternative Models of Trustworthiness of Service Providers

ABSTRACT

The structure and dimensionality of the trustworthiness construct are important theoretical and practical issues. Building on the work of Ennew and Sekhon and based on a sample of 625 respondents, this research identifies a six-factor structure of trustworthiness of service providers in the retail banking sector: customer orientation, integrity and honesty, communication and similarity, shared values, expertise, and ability and consistency. After assessing the reliability and validity of this factor structure, the study also compares the five alternative models of trustworthiness. Results indicated that the trustworthiness model with the six first-order factors has the best model fit. Higher order confirmatory factor analysis was used to identify three second-order trustworthiness factors, which are competency, openness, and benevolence. The various dimensions of trustworthiness are viewable as levers of improving a bank's trustworthiness in the minds of its current and potential customers.     

Remittances and economic growth: A study of Guyana

Using an augmented Solow framework and an ARDL bounds test for cointegration, we explore the short- and long-run effects of remittances, aid and financial deepening on growth in Guyana using annual data for the period 1982–2010. The results show that remittances have a positive and significant effect both in the short and the long run. Aid has a negative effect in the long run and financial deepening is not statistically significant. The Granger-causality test reveals that capital stock, aid and financial deepening cause remittances inflow in Guyana.     

Determinants of Public Expenditure on Health in India: A Panel Data Analysis at Sub-National Level

This study explores whether political factors and fiscal capacity matter more in explaining the growth and variation in health expenditure than the state’s income in India. The findings suggest that with the widening of political participation and greater representation of diverse population groups in politics, one can see a concomitant rise in government expenditure on health, indicating state interventionism in health sector for political reasons. Government’s desire to increase health spending depends on the availability of financial resources with the states, failing which the probability of fulfilling expenditure obligations towards the sector would be low. In contrast to earlier estimates that income elasticity of health expenditure is nearly equal to or greater than one, the elasticity is found to be less than one which ranges between 0.16 and 0.59. Overall, coefficient estimates of most of these important covariates show an upward bias in terms of magnitude and precision due to the absence of unobserved control factors and of advanced robust estimation techniques.

     

INDEPENDENT FISCAL AGENCIES

Abstract.  There has been a considerable literature regarding the incentives of policymakers as a prime reason for persistent fiscal deficits and a variety of fiscal rules have been proposed as a remedy. However, the often inadequate flexibility of rules and the success of policy delegation in the monetary realm have motivated a small but growing number of studies that suggest delegating some aspects of fiscal policy to what will here be called 'independent fiscal agencies'. This paper surveys the related literature with a focus on three aspects: the motivation for the establishment of such agencies; their potential design; and the experience with these types of institutions.     

Toward a unified theory of consumer acceptance technology

In the last few decades, scholars and practitioners have increasingly tried to understand the factors that influence technology acceptance. Theories and models developed by scholars have tended to focus on the role of cognition and have rarely included affect. The few studies that have incorporated affect have tended to measure a single emotion rather than modeling it comprehensively. This research addresses that inadequacy in our understanding of technology adoption by merging two previously unrelated models: TAM (the Technology Acceptance Model) and PAD (the Pleasure, Arousal, and Dominance paradigm of affect). This study also examines an enhanced view of cognition. The product of this unified theoretical framework is referred to as the Consumer Acceptance of Technology (CAT) model. The results of a test using structural equation modeling provide empirical support for the model. Overall, the CAT model explains over 50% of the variance in consumer adoption intentions, a considerable increase compared to TAM. These findings suggest that substantial improvement in the prediction of technology adoption decisions is possible by use of this model with its integration of affect and cognition. © 2007 Wiley Periodicals, Inc.     

打败低成本竞争者的市场策略

打败在市场上看不见的敌人要比打败那些看得到的敌人难度大得多.波澜壮阔的竞争浪潮每天都在各行各业涌动,为了打败竞争者,企业必须投入很多的人力、财力和宝贵的时间.与那些跟自己实力相当、策略相似、核心竞争力接近的公司竞争充满了挑战性.     

Circular economy to enhance sustainability of small and medium‐sized enterprises

The circular economy (CE) represents a major paradigm shift of moving from the concepts of linear to circular supply chains across multiple industries. Although some aspects of CE adoption within industrial supply chains have been researched extensively (particularly addressing challenges of design, implementation, and operations), the research that relates CE practices with sustainability performance to reveal the current state of CE practices within small and medium‐sized enterprises (SMEs) is scant. The aim of this research was to facilitate SMEs to achieve greater sustainability through CE implementation. This research addresses three research questions—How are CE fields of action related to sustainability performance? What are the issues, challenges, and opportunities of adopting CE in SMEs? And what key strategies, resources, and competences facilitate effective implementation of CE in SMEs? This study adopts a mixed method approach (qualitative and quantitative) using survey research, focus group, and case studies; 130 randomly selected SMEs within the Midlands of the United Kingdom have been surveyed, and the responses are analysed using statistical tools along with findings from focus groups and case studies. The study reveals that all CE fields of action (take, make, distribute, use, and recover) of SMEs are correlated to economic performance, but only make and use are related to environmental and social performance. The study further derives strategies, resources, and competences for achieving sustainability across all the CE field of actions. Additionally, this research reveals the issues and challenges, strategies, resources, and competences required for implementing CE in SMEs.