Does Control of Corruption Matter for Entrepreneurship in Emerging Economies: Evidence from Post-Communist Countries

Corruption has been shown to discourage entrepreneurship in both developed and developing countries. However, it is less clear to what extent corruption affects the development of institutions’ impact on entrepreneurial activity in the context of emerging economies, such as those in the post-communist countries. This study used Institutional Economics as a conceptual framework with the aim of analysing the moderating effect of control of corruption (informal institution) on the relationship between formal institutions (such as the number of procedures, education and training, access to finance, and technology absorption) and entrepreneurial activity. The study used panel data of 14 post-communist countries and different secondary databases from the years 2006-2014. The article has several implications from both theoretical perspectives (advancing the application of Institutional Economics for the study of entrepreneurship) and from the practical point of view (providing insights for governmental policies interested in fostering higher entrepreneurial levels). Keywords: institutional economics, corruption, entrepreneurship, emerging economie

Mentoría y Apoyo Financiero: Impacto en la Motivación Empresarial Familiar

This study investigates and assesses factors that influence entrepreneur’s motivation to start up a project and explores government support programs. A study model was developed, and a quantitative approach was used for this purpose to collect data from potential entrepreneurs among family members. Two influential factors were used in the study that would impact entrepreneur’s motivation which are mentoring and funding support. This study is based on the expectancy theory to investigate impact on entrepreneur’s motivation. A simple random sampling approach was used on the targeted population and study results were tested to determine their validity. The findings show that the existence of mentorship and accessible funding support have a favorable relationship and remarkable impact on motivation of entrepreneurs especially in the early stages of the project. The study indicates that entrepreneur’s ideas and goals would not be achieved without proper funding. Potential entrepreneurs may not be able to start their own business people and face the risks in the absence of financial support. It is critical to enhance the understanding of potential entrepreneurs in the early stages on how such substantial efforts might benefit their entrepreneurial journeys. The study suggests focusing on mentorship and funding support programs to stimulate potential entrepreneurs in differente contexts as Bahrain. This step can attract and increase investment in the market and contribute to economic growth of the country.Este estudio investiga y evalúa los factores que influyen en la motivación de las personas emprendedoras y explora los programas de apoyo del gobierno. Se utiliza un enfoque cuantitativo para este propósito, recopilando datos de personas empresarias posiblesde miembros de la familia. En el estudio se utilizan dos factores influyentes que afectan la motivación de las personas emprendedoras, que son la mentoría y el apoyo financiero. Este estudio se basa en la teoría de las expectativas para investigar el impacto en la motivación de las personas emprendedoras. Se utilizó un enfoque de muestreo aleatorio simple en la población objetivo y se probaron los resultados del estudio para determinar su validez. Los hallazgos muestran que la existencia de mentoría y apoyo financiero accesible tienen una relación favorable y un impacto notable en la motivación de las personas emprendedoras, especialmente en las primeras etapas del proyecto. El estudio indica que las ideas y los objetivos de las personas emprendedoras no se lograrían sin la financiación adecuada. Las personas emprendedoras posibles pueden no ser capaces de iniciar su propio negocio y enfrentar riesgos en ausencia de apoyo financiero. Es fundamental mejorar la comprensión de las personas emprendedoras potenciales, especialmente en las primeras etapas, sobre cómo esos esfuerzos sustanciales podrían beneficiar sus trayectorias empresariales. El estudio sugiere centrarse en los programas de mentoría y apoyo financiero para estimular a las personas emprendedoras potenciales en contextos similares al de Bahréin. Esta medida puede atraer y aumentar la inversión en el mercado y contribuir al crecimiento económico del país.

The Propensity to Use FinTech: Input from Bankers in the Kingdom of Bahrain

© 2020 World Scientific Publishing Co. This study aims to assess why users are willing/hesitant to continue using FinTech services based on their perceived benefits and risks pertaining to the use of FinTech technology. Data was collected, using an adopted survey instrument, from bankers based in Bahrain, the financial and FinTech hub of the Middle East. Data analysis was applied to assess the reliability and validity of this study\u27s conceptual model along with its nine hypotheses with 374 valid responses subsequently being analysed using multiple regression via SPSS version 23. The empirical findings of this study supported all the hypotheses, revealing that both perceived benefit and risks affect the intent to continue using FinTech. Perceived benefit has a stronger effect than the perceived risk, and convenience perceived most beneficial while financial risk perceived riskiest for using FinTech technology by the bankers of Bahrain

Oil Prices and Stock Market Returns in Oil Exporting Countries: Evidence from Saudi Arabia

This study aims at investigating the reaction of Saudi Arabia stock market towards oil price fluctuations a sectoral level in particular. The study covered 4 years from (2012-2015). This time series witnessed historical high and low oil prices. The results of the study added a new evidence for the asymmetric reaction of stock markets towards oil prices that was reported by previous studies. The study used Granger causality and regression tests to explore the dynamics of sectoral responses. Saudi Arabia stock market proved that they faced the current oil drops bravely although certain sectors need to unbind or reduce their relation with oil markets to reduce the consequences of low oil prices on them. Several avenues for future studies are opened to investigate all GCC stock markets and use other methodologies to better understand the dynamics of GCC market sectors towards oil prices fluctuations. Keywords: Saudi Arabia stock market; oil prices; granger causality.      JEL Classifications: E44, Q2

FinTech in Bahrain: The Role of FinTech in Empowering Women

The purpose of this paper is to review the definition of Financial Technology (FinTech) discipline from different perspectives and scholars. Moreover, the research will explore FinTech history and its evolution stages throughout the years based on existing literatures. In addition, it will present the different concepts and categories of FinTech. The research will also discuss FinTech implementation in the Kingdom of Bahrain and focus on women role within the FinTech, and the initiatives taken to empower women within the industry. The research is based on review of literatures and interviews to explore women role and achievements within Fintech in Bahrain, and it proposes recommendations for future thorough research

The Relationship of Gold Price with the Stock Market: The Case of Frankfurt Stock Exchange

This paper considers the relationship between two main economic variables: Gold & Stock market in Germany that is represented by the HDAX Index under the FSE. The researchers used monthly data collected from Bloomberg database spanning from August 2004 to September 2016 (12 years) in order to use them in the selected tests in this research which are: (Descriptive statistic tests, Pearson's correlation test, Unit root test to assure data are stationary for the Johansen's Co-integration test and the Granger Causality test.)  The data were divided into three periods: pre, during and post to financial crisis in order to measure the different effect in each period. The results showed that there is a correlation between gold and stock market that differs in each period, as for the whole period of 12 years there was a moderate positive correlation, before the financial crisis there was a very strong positive correlation, during the financial crisis the correlation was positive but weak and low which means its insignificant, while at the period after the financial crisis the correlation changed in nature as it became a strong high negative correlation. The co-integration test results were all the same for all the three different periods (before, during and after financial crisis) and also for the whole 12 years period that is there is a long run relationship between gold and stock market (represented by the HDAX Index). The same thing applies on the Granger causality test, as there was no Granger causality (No Cause-effect relationship) between gold and stock market.  Keywords: Gold Price, Stock Market, Frankfurt Stock Exchange (FSE), HDAX Index, JEL Classifications: C01, C58, G01, G11 and G15

The Auditing Quality and Accounting Conservatism

[Abstract] This study aims at verifying that there is accounting conservatism in the financial reports issued by the industrial corporations listed on the Amman Stock Exchange (ASE) and testing the impact of auditing quality characteristics (the auditing firm size, contacts with other global auditing firms, client retention period, auditing fees and the specialty in client's industry) on the enhancement of the level of accounting conservatism. Towards realizing the objectives of the study, the relationship was estimated and examined through the Binomial Test to test the first hypothesis a One-Sample T-Test to test the second hypothesis, and multiple regressions of (Ordinary Least Squares OLS). Data of 39 companies of the industrial sector for the period 2001-2006 were arranged in a way that made it possible to apply the Pooled Data Regression. The study found significant results indicating a low level of accounting conservatism in the financial statements issued by the Jordanian industrial corporations. The results indicated that some of the characteristics of auditing quality are good, and some of audit quality characteristics have an impact on improving the level of accounting conservatism. Based on these results, we have provided recommendations to the interested parties

Antimicrobial resistance among migrants in Europe: a systematic review and meta-analysis

BACKGROUND: Rates of antimicrobial resistance (AMR) are rising globally and there is concern that increased migration is contributing to the burden of antibiotic resistance in Europe. However, the effect of migration on the burden of AMR in Europe has not yet been comprehensively examined. Therefore, we did a systematic review and meta-analysis to identify and synthesise data for AMR carriage or infection in migrants to Europe to examine differences in patterns of AMR across migrant groups and in different settings. METHODS: For this systematic review and meta-analysis, we searched MEDLINE, Embase, PubMed, and Scopus with no language restrictions from Jan 1, 2000, to Jan 18, 2017, for primary data from observational studies reporting antibacterial resistance in common bacterial pathogens among migrants to 21 European Union-15 and European Economic Area countries. To be eligible for inclusion, studies had to report data on carriage or infection with laboratory-confirmed antibiotic-resistant organisms in migrant populations. We extracted data from eligible studies and assessed quality using piloted, standardised forms. We did not examine drug resistance in tuberculosis and excluded articles solely reporting on this parameter. We also excluded articles in which migrant status was determined by ethnicity, country of birth of participants' parents, or was not defined, and articles in which data were not disaggregated by migrant status. Outcomes were carriage of or infection with antibiotic-resistant organisms. We used random-effects models to calculate the pooled prevalence of each outcome. The study protocol is registered with PROSPERO, number CRD42016043681. FINDINGS: We identified 2274 articles, of which 23 observational studies reporting on antibiotic resistance in 2319 migrants were included. The pooled prevalence of any AMR carriage or AMR infection in migrants was 25·4% (95% CI 19·1-31·8; I2 =98%), including meticillin-resistant Staphylococcus aureus (7·8%, 4·8-10·7; I2 =92%) and antibiotic-resistant Gram-negative bacteria (27·2%, 17·6-36·8; I2 =94%). The pooled prevalence of any AMR carriage or infection was higher in refugees and asylum seekers (33·0%, 18·3-47·6; I2 =98%) than in other migrant groups (6·6%, 1·8-11·3; I2 =92%). The pooled prevalence of antibiotic-resistant organisms was slightly higher in high-migrant community settings (33·1%, 11·1-55·1; I2 =96%) than in migrants in hospitals (24·3%, 16·1-32·6; I2 =98%). We did not find evidence of high rates of transmission of AMR from migrant to host populations. INTERPRETATION: Migrants are exposed to conditions favouring the emergence of drug resistance during transit and in host countries in Europe. Increased antibiotic resistance among refugees and asylum seekers and in high-migrant community settings (such as refugee camps and detention facilities) highlights the need for improved living conditions, access to health care, and initiatives to facilitate detection of and appropriate high-quality treatment for antibiotic-resistant infections during transit and in host countries. Protocols for the prevention and control of infection and for antibiotic surveillance need to be integrated in all aspects of health care, which should be accessible for all migrant groups, and should target determinants of AMR before, during, and after migration. FUNDING: UK National Institute for Health Research Imperial Biomedical Research Centre, Imperial College Healthcare Charity, the Wellcome Trust, and UK National Institute for Health Research Health Protection Research Unit in Healthcare-associated Infections and Antimictobial Resistance at Imperial College London

Call for emergency action to restore dietary diversity and protect global food systems in times of COVID-19 and beyond: Results from a cross-sectional study in 38 countries

Background: The COVID-19 pandemic has revealed the fragility of the global food system, sending shockwaves across countries\u27 societies and economy. This has presented formidable challenges to sustaining a healthy and resilient lifestyle. The objective of this study is to examine the food consumption patterns and assess diet diversity indicators, primarily focusing on the food consumption score (FCS), among households in 38 countries both before and during the first wave of the COVID-19 pandemic. Methods: A cross-sectional study with 37 207 participants (mean age: 36.70 ± 14.79, with 77 % women) was conducted in 38 countries through an online survey administered between April and June 2020. The study utilized a pre-tested food frequency questionnaire to explore food consumption patterns both before and during the COVID-19 periods. Additionally, the study computed Food Consumption Score (FCS) as a proxy indicator for assessing the dietary diversity of households. Findings: This quantification of global, regional and national dietary diversity across 38 countries showed an increment in the consumption of all food groups but a drop in the intake of vegetables and in the dietary diversity. The household\u27s food consumption scores indicating dietary diversity varied across regions. It decreased in the Middle East and North Africa (MENA) countries, including Lebanon (p \u3c 0.001) and increased in the Gulf Cooperation Council countries including Bahrain (p = 0.003), Egypt (p \u3c 0.001) and United Arab Emirates (p = 0.013). A decline in the household\u27s dietary diversity was observed in Australia (p \u3c 0.001), in South Africa including Uganda (p \u3c 0.001), in Europe including Belgium (p \u3c 0.001), Denmark (p = 0.002), Finland (p \u3c 0.001) and Netherland (p = 0.027) and in South America including Ecuador (p \u3c 0.001), Brazil (p \u3c 0.001), Mexico (p \u3c 0.0001) and Peru (p \u3c 0.001). Middle and older ages [OR = 1.2; 95 % CI = [1.125–1.426] [OR = 2.5; 95 % CI = [1.951–3.064], being a woman [OR = 1.2; 95 % CI = [1.117–1.367], having a high education (p \u3c 0.001), and showing amelioration in food-related behaviors [OR = 1.4; 95 % CI = [1.292–1.709] were all linked to having a higher dietary diversity. Conclusion: The minor to moderate changes in food consumption patterns observed across the 38 countries within relatively short time frames could become lasting, leading to a significant and prolonged reduction in dietary diversity, as demonstrated by our findings

Twelve-month observational study of children with cancer in 41 countries during the COVID-19 pandemic

Introduction Childhood cancer is a leading cause of death. It is unclear whether the COVID-19 pandemic has impacted childhood cancer mortality. In this study, we aimed to establish all-cause mortality rates for childhood cancers during the COVID-19 pandemic and determine the factors associated with mortality. Methods Prospective cohort study in 109 institutions in 41 countries. Inclusion criteria: children <18 years who were newly diagnosed with or undergoing active treatment for acute lymphoblastic leukaemia, non-Hodgkin's lymphoma, Hodgkin lymphoma, retinoblastoma, Wilms tumour, glioma, osteosarcoma, Ewing sarcoma, rhabdomyosarcoma, medulloblastoma and neuroblastoma. Of 2327 cases, 2118 patients were included in the study. The primary outcome measure was all-cause mortality at 30 days, 90 days and 12 months. Results All-cause mortality was 3.4% (n=71/2084) at 30-day follow-up, 5.7% (n=113/1969) at 90-day follow-up and 13.0% (n=206/1581) at 12-month follow-up. The median time from diagnosis to multidisciplinary team (MDT) plan was longest in low-income countries (7 days, IQR 3-11). Multivariable analysis revealed several factors associated with 12-month mortality, including low-income (OR 6.99 (95% CI 2.49 to 19.68); p<0.001), lower middle income (OR 3.32 (95% CI 1.96 to 5.61); p<0.001) and upper middle income (OR 3.49 (95% CI 2.02 to 6.03); p<0.001) country status and chemotherapy (OR 0.55 (95% CI 0.36 to 0.86); p=0.008) and immunotherapy (OR 0.27 (95% CI 0.08 to 0.91); p=0.035) within 30 days from MDT plan. Multivariable analysis revealed laboratory-confirmed SARS-CoV-2 infection (OR 5.33 (95% CI 1.19 to 23.84); p=0.029) was associated with 30-day mortality. Conclusions Children with cancer are more likely to die within 30 days if infected with SARS-CoV-2. However, timely treatment reduced odds of death. This report provides crucial information to balance the benefits of providing anticancer therapy against the risks of SARS-CoV-2 infection in children with cancer