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This study aimed to examine the influence of team management approaches, specifically team structuring, leadership, motivation, and communication, on the performance of tea processing projects in Rwanda. The study is grounded in Belbin’s Team Role Theory and the Iron Triangle Model and adopted descriptive and correlational research designs. The target population included 185 respondents, comprising factory staff, supervisors, team leaders, and officials from NAEB, MINAGRI, and the Rwanda Tea Growers Cooperative. Data were collected using structured questionnaires and interviews. A pilot test was conducted with 19 respondents to determine the instrument's ability to produce consistent results over time. Validity and Reliability testing of the research instrument yielded 0.78 and a Cronbach’s Alpha of 0.79 from pilot results, confirming the instrument's validity and reliability respectively. Data analysis involved descriptive and inferential statistics, including Pearson correlation and regression, using SPSS version 28 at a 0.05 significance level. 

Macroeconomics plays an important role in influencing firm value and performance. This study aims to analyze the effect of inflation, exchange rates, interest rates, and Gross Domestic Product (GDP) on firm value, with firm performance as a mediating variable. Firm performance in this study is proxied by liquidity, which is measured using the Current Ratio (CR), representing one specific dimension of firm performance rather than its overall performance, while firm value is proxied by the Price Earning Ratio. The study was conducted on infrastructure sector companies listed on the Indonesia Stock Exchange for the 2019–2023 period, using a purposive sampling method. Data analysis was carried out through classical assumption tests, multiple linear regression, and mediation analysis using the Sobel test. The results showed that inflation, interest rates, and GDP had a significant effect on Current Ratio, but exchange rates did not. Meanwhile, inflation, interest rates, and exchange rates had a significant effect on firm value, but GDP did not. The mediation test showed that Current Ratio only significantly mediated the effect of inflation on firm value. These findings indicate the importance of liquidity management and strategies in dealing with macroeconomic risks. Further research is recommended to examine other mediating variables and different industrial sectors.       

Effective management of human, material, and financial resources is crucial for delivering housing construction projects successfully. In Musanze District, Rwanda, many housing projects have faced delays and cost overruns, largely due to weaknesses in planning, coordination, and resource use. Using the Resource-Based View (RBV) and Systems Theory as guiding frameworks, this study assessed how resource management strategies impact the performance of housing construction projects. A descriptive survey design with correlational analysis was used. The study targeted 152 stakeholders, including district infrastructure officers, project managers, site engineers, architects, quantity surveyors, foremen, skilled workers, and material suppliers. A stratified random sample of 110 participants was drawn, and a 10% pilot test (n = 11) was conducted to ensure the questionnaire’s clarity. Reliability analysis using Cronbach’s Alpha produced a value of 0.826, indicating strong internal consistency. Content validity was confirmed with a CVI of 0.87. Data were analyzed in SPSS 25 using descriptive statistics, Pearson correlation, and multiple linear regression at a 5% significance level. Findings indicated that overall project delivery performance was high (composite mean = 4.38). Key delivery indicators such as quality (mean = 4.74), scope achievement (4.56), and stakeholder satisfaction (4.35) were strong, while timely completion recorded the lowest performance (mean = 4.02). Material Resource Management (MRM) exhibited a strong, positive, and statistically significant correlation with project delivery (r = 0.510, p = 0.000), making it the most influential individual strategy.

Seed potato farming projects are essential for increasing agricultural productivity, strengthening food security, and supporting rural livelihoods in Rwanda. However, their performance is often affected by internal organizational culture challenges such as weak communication, limited accountability, unresolved conflicts, and low employee motivation. This study examined the influence of key organizational culture aspects—communication, accountability, conflict resolution, and employee motivation—on the performance of seed potato farming projects in Rwanda. The study was guided by Organizational Culture Theory and Systems Theory and employed both descriptive and correlational research designs. The target population consisted of 420 individuals, including project managers, agronomy staff, field operations personnel, administrative staff, and smallholder farmers involved in the RAB potato seed multiplication project. A sample of 230 respondents was selected using appropriate sampling techniques. Data were collected through questionnaires, interviews, and document review. A pilot test involving 23 respondents was conducted to assess the consistency of the research instruments. The obtained results show a Cronbach’s Alpha value of 0.78, confirming reliability, and a CVI of 0.82, which exceeds the acceptable threshold for validity, meaning the research instruments were both dependable and appropriate for accurately measuring the study variables. Only items with a Content Validity Index (CVI) of at least 0.70 were retained. Data were analyzed using descriptive statistics, correlation, and regression analysis with SPSS version 28 at a significance level of 0.05.      

This paper focuses on a classic policy trade-off by unraveling the role of financial deregulation in driving financial stability and exploring how the role of regulatory quality can affect this relationship. To this end, this study uses a balanced panel dataset of 73 countries across a period of ten years starting from 2014. The empirical specification utilizes a two-step System GMM approach, accounting for both endogeneity, unobserved heterogeneity issues, and persistence in financial stability. Specifically, financial stability is measured by non-performing loans (NPLs), which represent the level of risk exposure of national banking sectors. The findings reveal that financial freedom leads to higher level of financial instability, proving theoretical predictions of the excessive risk-taking behavior of lending institutions encouraged with financial deregulation. Furthermore, the interaction term between financial freedom and regulatory quality is statistically significant, suggesting that financial deregulation can be compensated by the quality of regulatory environment. The role of the GDP per capita variable used for stabilizing the findings is significant as it represents the resilience of more developed economies. The implications of the results are complex. In a more institutional context, this finding suggests that financial stability is not a direct function of financial freedom but is conditional on institutional capability. Hence, high regulatory quality can mitigate the instability caused by financial freedom, thereby enabling a balanced approach.

Using a large sample of bond rating downgrades of US firms announced by the three largest rating agencies during 1997-2023, I find that cumulative abnormal stock returns (CAR) spanning the day of and day following downgrade announcements are significantly and negatively related to annual report readability, indicating that downgrades are more informative among firms with more readable annual reports. My baseline regression results indicate that a one standard deviation improvement in annual report readability corresponds to a reduction in the announcement CAR of approximately forty-three basis points, which is economically meaningful given that it constitutes roughly 27% of the sample average announcement CAR of -1.62%. Furthermore, additional analysis reveals that the informativeness enhancing effect that better annual report readability has on rating downgrades is stronger among firms that should be more difficult to monitor and evaluate, including lower rated firms, firms with high stock return volatility, and younger firms. Overall, the results strongly support the hypothesis that well-written annual reports facilitate more timely and informative bond rating downgrades, especially among more informationally problematic firms.

This study investigated the effect of project monitoring and evaluation (M&E) practices on the performance of the Capacity Development for ICT in Education (CADIE) project in Gicumbi District, Rwanda. The study specifically attempted to examine the effect of M&E planning, M&E tools, M&E digitization, and M&E budget on performance of the CADIE project in Gicumbi District, Rwanda. It was guided by the Technology Acceptance Theory, Results-Based Management (RBM) Theory, and Capacity Development Theory. A descriptive research design combining both quantitative and qualitative approaches was employed. The target population consisted of 268 stakeholders, Using Yamane’s formula, a sample of 160 respondents was drawn using stratified and simple random sampling techniques to ensure fair representation. Data was collected through questionnaires, semi-structured interviews, and documentary reviews. Quantitative data were analyzed using SPSS version 23 through descriptive and inferential statistics, while qualitative data were analyzed thematically. Descriptive statistics revealed that respondents generally agreed that M&E practices positively influenced project performance. The regression model showed R = 0.809 and R² = 0.655, indicating that 65.5% of the variation in project performance was explained by M&E planning, M&E tools, M&E digitalization, and M&E budgeting. The study concluded that effective monitoring and evaluation practices were vital for the successful performance of ICT-based education projects. A structured M&E plan provided clear direction, digitalization improved real-time monitoring and reporting, and proper budgeting ensured accountability and efficient resource utilization.

The research investigates how goal contagion impacts the acceptance of digital technologies and also explores the moderating effect of COVID-19 and survival instinct within the interconnection between goal contagion and the acceptance of digital technologies. The research has undertaken partial least squares structural equation modeling to identify the direct as well as moderating effects based on a sample of 250 individuals across diverse firms in Bangladesh. The research also involved the Importance-Performance Map Analysis approach (IPMA) to explore key areas of importance and performance, thus providing a holistic understanding of key factors impacting the acceptance of digital technologies. Then, an ANN model analysis was used to determine how important the components determined by the PLS-SEM study were in terms of relative influence. The study revealed that others’ behavior and situational context have a significant impact on goal contagion. The outcome also showed that goal contagion has a significant impact on the acceptance of digital technologies; besides, survival instinct and COVID-19 have a statistically significant moderating effect between goal contagion and the acceptance of digital technologies. The IPMA findings showed that COVID-19 and goal contagion are the most important factors for the acceptance of digital technologies. The ANN findings revealed that situational context is the most contributing construct for goal contagion. The findings also demonstrated that COVID-19 and goal contagion are the most influential constructs for the acceptance of digital technologies. The findings of this research contribute significantly to the relevant knowledge by promoting a theoretical framework for comprehending the factors that influence the acceptance of digital technologies. Furthermore, this research illustrates valuable insights for companies that are planning to make strategic decisions regarding their digital technologies.

The Options Based Portfolio Insurance (OBPI) should avoid losses and capture gains, by the cost of a “premium”, but in practice the premium cost can be too high to capture gains in the different market conditions. Based on this premise, the objective of this study is to analyze an optimized alternative to Options Based Portfolio Insurance, assuming that the probability of an Extreme Negative Event varies with time, and therefore the insurance floor should not be maintained at any cost. To achieve the objective, data were crossed between the rollover date and a fixed insurance cost on equity, using historical data from 678,546 trades carried out in the US market, which resulted in 3,700 portfolios. Data analysis was performed using descriptive and econometric statistics with simple linear regressions. The results demonstrated that the insured floor varied with the volatility implied in option prices, indicating the possibility of obtaining better return-risk ratio and lower drawdown when compared to the unprotected portfolio, showing a positive correlation between insurance cost and return-risk ratio for low costs and a negative correlation for higher costs. Furthermore, it can be indirectly inferred that the explanation for the results comes from the perception of risk by the market not representing the real risk. As with the stabilization and possible recovery of prices that occur after a significant drop, market confidence is not restored to the same proportion. That’s why volatility remains at high levels, consequently, raising the insurance cost, even with lower probabilities of Extreme Negative Events.     

The current research aims to examine the accounting of digital assets by linking accounting measurement theory to financial disclosure requirements, in light of the challenges related to the absence of specialized international accounting standards for digital assets. The research was divided into two parts: theoretical and applied. The theoretical part included a review of the literature related to accounting measurement (historical cost, fair value, and impairment model) and financial disclosure requirements according to International Financial Reporting Standards (IAS/IFRS) and American standards (FASB, AICPA, and SEC). The applied part used a questionnaire and administered to a sample of financial report users, including academics and professionals, to obtain their opinions on the adequacy of current measurement models, financial disclosure requirements, and shortcomings in international standards. It also explored the possibility of formulating an integrated framework for measuring and disclosing digital assets. The results of the analysis of the questionnaire showed that fair value measurement is more appropriate for the nature of digital assets than traditional models, with the need to enhance disclosure of risks associated with price volatility, liquidity, and operational risks. It also showed that the absence of a specific accounting standard for digital assets leads to poor comparability and increased variation in accounting practices across economic entities. Based on the survey results, an integrated theoretical framework for accounting for digital assets was proposed. This framework includes principles of recognition, measurement, and disclosure, and contributes to achieving the objectives of financial reporting in accordance with the International Accounting Standards Board (IASB) conceptual framework, ensuring relevance, accurate representation, comparability, clarity, and timeliness. The study concluded that developing a specialized accounting framework for digital assets represents a strategic necessity to ensure the reliability and transparency of financial reporting and enhance user confidence, given the rapid growth in the adoption of digital assets within global economic activities.  

This study examines the prospective integration of blockchain technologies to enhance operational transparency in the Iraqi banking sector. Despite the absence of actual blockchain deployment, the research adopts a foresight-driven, empirical approach combining literature analysis with survey data from 82 banking professionals. Results from statistical tests (including ANOVA and t-tests) reveal a generally low level of institutional awareness but a strong perceived potential for transparency improvement—especially when paired with a phased implementation model. Moreover, technological infrastructure and management attitudes were found to significantly mediate the adoption process. The study concludes with practical recommendations tailored to Iraq’s institutional realities and proposes a scalable roadmap for gradual blockchain adoption. These insights contribute to bridging the gap between technological potential and institutional readiness in developing economies.

This research aims to demonstrate the role of financial statements (balance sheet) in reporting the risks faced by government units and the extent of the risks within these units, in addition to demonstrating the steps through which risks can be managed in these units, whether they are governmental or private economic units. Financial risks are one of the problems facing economic units, whether private or governmental. In turn, decision-makers, both internal and external, work to measure the financial risks facing these units. Therefore, the research problem is as follows, Do financial position statement contribute to reporting financial risks in governmental units (Baghdad Municipality)? In order to achieve the research objectives, the financial position statement of the Baghdad Municipality Department (a government unit) was used, and a set of indicators was used to reach a judgment on the presence or absence of risks, as well as the level of risks facing this unit. It was found that there is a possibility of knowing the risks through the financial position statement, in addition to discovering that the level of risks facing this unit (Baghdad Municipality) is considered high.    

This is a study about the financing of large group health insurance in the United States. Almost 8 in 10 covered employees in private large firms are enrolled in self-insured (or self-funded) health plans in contrast to only 20 percent of employees in small firms. More than half of all large standard (non-supplemental) health plans are self-insured although their number is decreasing. Considering their significantly greater risk of exposure and transaction costs, the question for scholarly investigation is why (and how) do private large firms self-fund employer-sponsored health insurance? Using plan-level data from health plan administrator filings of Forms 5500 and Summary Annual Reports (2014-2022) with the U.S. Department of Labor, six variables are examined in this study relative to large group self-insurance: industry/sectoral distribution, plan size/enrollment, plan administration, benefits coverage, plan assets and investments, and statutory compliance. Findings suggest that industry/sectoral and enrollee distributions of large health plans are not widely dispersed while their assets and investments and statutory exemptions offer comparative advantages. These plans have also increasingly relied on stop-loss insurance, third-party administration, supplemental health benefits, and less major medical plans to mitigate actuarial risks that involve considerable financial exposure to fluctuating claims costs, potential for catastrophic claims, and cash flow unpredictability. The intertwining theoretical and practical implications of large group self-insurance in healthcare finance and risk management are addressed by way of conclusion.    

In the loanable funds theory, the interest rate serves as a balancing factor between the savings offered for loans and the funds borrowed for investment. In Keynes’s theory, by contrast, it is a monetary phenomenon that balances the demand and the supply of money. At first glance, the monetary phenomenon of the interest rate may seem quite different and is often considered groundbreaking and revolutionary. In Keynes’s theory, people hold part of their savings in money to cope with uncertainty about the returns from long-term bonds, and it is savings held in money that leads the interest rate to be a monetary phenomenon. While people hold part of their savings in money, they also invest their savings by purchasing long-term bonds. The interest rate also balances savings offered, though only in part and not the whole, and funds borrowed in the bond market, as in the loanable funds theory. In this regard, Keynes’s theory and the loanable funds theory are not as strikingly different as it may first appear. The main exegetical work of Keynes’s ideas is Keynesian economics. In this theory, the interest rate is also a monetary phenomenon, as is expected of exegetical work. However, it is not due to savings held in money as in Keynes’s theory; rather, it is due to the cash holdings required for purchasing goods and services. This paper examines the differences among these three interest rate theories, the reasons behind them, and their practical implications.    

This research investigates the contribution of women-owned businesses in driving economic development within the UAE, focusing on the primary elements influencing their success. A purposive sampling method was used to gather input from the Emirati businesswomen through a custom-designed questionnaire. Data were collected via various methods, including telephone interviews, email correspondence, and on-site visits where applicable. For analysis, the study employed partial least squares regression and structural equation modeling to assess both the measurement and structural frameworks. The evaluation centered on four key dimensions: individual attributes, organizational internal and external elements, support mechanisms, and the impact of national cultural norms. According to the results, business outcomes are positively influenced by individual traits, cultural context, external conditions, and support networks, whereas internal factors appear to lack significant influence. Notably, while the prevailing national culture enhances the overall performance of women-led ventures, it appears to impair the function of support systems. The research sheds light on the essential enablers and cultural limitations shaping the success of female entrepreneurs in the UAE.

Employee promotion in State-Owned Commercial Bank (SOCB) and Private Commercial Bank (PCB) depends on Key Determining Factors (KDF). The study aims to identify these factors. The objective is to compare the impact of KDF on employee promotion between SOCB and PCB. The study finds that Education, Qualifications, Job performance and Skills do not impact promotion in SOCB, whereas Experiences, Tenures, Work ethics and Dependability determine employee promotion in PCB. Social relationships and interpersonal relationships both influence employee promotion at PCB. Bias and Favouritism exist from a certain level in SOCB, whereas the study unveils a strong presence of Bias and Favouritism in PCB. There is no presence of Age, Gender and Ethnicity in employee promotion in SOCB, while PCB experienced a mixed influence of Age, Gender and Ethnicity on employee promotion. While there is no influence of Union Status, Firm Size on employee promotion in PCB, an indirect influence on employee promotion has been observed in this study. Luck and External factors both influence employee promotion in SOCB and PCB. Seniority is maintained up to a certain level in SOCB, after that, both merit and seniority is considered whereas performance plays a pivotal role in employee promotion in PCB.

Recognizing that effective road infrastructure is vital for socioeconomic development, this research addressed the persistent challenges that hindered project execution, including delays, cost overruns, and compromised quality often linked to inadequate M&E practices. The study examined the influence of M&E practices on implementation of road construction projects in Musanze District, Rwanda with specific focus on M&E planning, M&E data utilization, and M&E digitalization on implementation of road construction projects. This study used the theory of change and constraints theory. The study employed descriptive survey and correlational research designs with questionnaire and interview for collecting data from a sample of 153 respondent out of 247 key stakeholders. The instruments were pretested in a pilot study involving 10% of the sample to ensure validity and reliability, achieving a Cronbach's alpha coefficient of 0.78. Descriptive and inferential statistics of correlation and regression were done at a significance level of 0.05 with thematic content analysis of qualitative data for triangulation. The findings revealed that road construction projects generally performed above average, with 68.6% of respondents confirming that projects were completed within budget, 69.9% stating that milestones were met on time, and 65.3% satisfied with the quality of materials and road quality. The hypotheses that M&E Planning, M&E Data Utilization, M&E Digitalization and M&E Capacity Building does not significantly influence the implementation of road construction projects were rejected as p = 0.000 < 0.05. In conclusion all four null hypotheses were rejected, demonstrating that M&E planning, data utilization, digitalization, and capacity building significantly influence the implementation of road construction projects. The study recommended enhancing community engagement, strengthening M&E planning, expanding digitalization efforts, prioritizing ongoing capacity building, and fostering a culture of data-driven decision-making. Suggestions for further studies included comparing M&E practices across infrastructure sectors such as water or energy projects, to identify cross-sectoral best practices and potential areas for improvement, exploring emerging technologies like AI and block chain, and analyzing the impact of national and regional policies on M&E practices.

Capital financing plays a crucial role in sustaining the growth potential of pharmaceutical companies, enabling them to expand operations and compete effectively in the market. In the face of a slowing global economy, maintaining solid financial performance across existing business lines becomes increasingly important. This study aims to examine the relationship between capital structure and the financial performance of pharmaceutical companies in Indonesia. The research sample consists of nine publicly listed pharmaceutical firms over the period 2013–2023. The empirical analysis employs three panel data estimation approaches—Pooled Ordinary Least Squares (Pooled OLS), Fixed Effects Model (FEM), and Random Effects Model (REM)—to account for different assumptions about unobserved firm-specific characteristics. Based on the Hausman test, FEM is determined as the most suitable model for the dataset. The estimation results reveal that the Long-term Debt to Total Assets (LDTA) ratio exerts a statistically significant negative effect on Return on Assets (ROA), indicating that a higher proportion of long-term debt tends to reduce profitability. Conversely, the Short-term Debt to Total Assets (SDTA) and Total Debt to Total Equity (TDTE) ratios have positive but statistically insignificant impacts on ROA, suggesting that neither short-term liabilities nor overall leverage significantly influence profitability in the observed period. These results imply that excessive reliance on long-term borrowing can impose interest burdens and financial constraints, thereby weakening performance. Consequently, financial managers in the pharmaceutical sector are encouraged to optimize their financing structure, prioritizing internal funds or short-term financing sources that align with operational needs and market conditions to sustain profitability and ensure long-term competitiveness.

This study looks at the effect of accounting flexibility on earnings quality in public companies listed on the Indonesia Stock Exchange during the period 2016 to 2019. This study uses two models to measure earnings quality, namely ERC and earnings persistence. The results showed that accounting flexibility, namely the limitations of companies to carry out accrual earnings management, can reduce earnings quality, as shown by the abnormal accrual model which shows a significant positive coefficient direction, and for the ERC model and earnings persistence which shows a negative and significant coefficient direction. The higher the level of accrual earnings management up to a certain limit point, the more incentive company managers will have to increase accounting flexibility and switch to real earnings management (Xu and Yang, 2013; Masri, 2018). Theoretical contributions show that the higher the level of accrual earnings management up to a certain limit point, the more incentive company managers will have to increase accounting flexibility and switch to real earnings management (Xu and Yang, 2013; Masri, 2018; Purba, Surya, Joshi & Tiagy, 2023). The Implications of this research show that accounting flexibility is carried out when abnormal accruals reach the highest limit point reflected in accounting choices in net operating assets in the balance sheet, so in this case it results in a low level of earnings informativeness and earnings persistence. 

Green accounting plays a vital role in addressing the environmental consequences of mining. However, existing research is predominantly concentrated in developed countries, leaving a knowledge gap in developing contexts such as Ghana. To bridge this gap, this study conducts a systematic review of green accounting practices within Ghanaian mining communities. Using PRISMA guidelines, the authors examined peer-reviewed literature from three major academic databases, employing keywords such as "green accounting," "environmental accounting," "sustainable accounting," "natural resource accounting," and "mining in Ghana." From an initial pool of 276 studies, 46 were selected based on inclusion criteria. The findings show that while green accounting disclosures are increasingly present in corporate reports, they remain inconsistent. Several studies also evaluate the legal and policy frameworks shaping corporate environmental responsibility in mining, while others assess sustainability practices among mining firms. The study concludes by advocating for locally tailored sustainability strategies and suggests future research on the socio-environmental impact of eco-friendly technologies in Ghana's mining sector.