Social Responsibility, Business Strategy and Development: The Case of Grameen-Danone Foods Limited

The aim of this paper is to study the phenomenon of Social Business Enterprises (SBEs) and gain an understanding of their nature, operations, objectives and implications by using Grameen Danone Foods Limited (GDFL) as an illustration. Within this context, some questions that this paper seeks to explore are: is the concept of Social Businesses just another ‘fashionable business marketing fad’ that will fade and wither with time, or does it offer a real workable solution to cure the ills of global poverty? The paper seeks to investigate, with Grameen Danone’s case, if, how and to what extent such social businesses help towards social and economic uplift of the poor by simultaneously being both suppliers and consumers of their services. The case of GDFL is evaluated critically and compared analytically with similar social businesses in the dairy business sector, in order to gauge its impact on local communities, especially on the target market – malnourished children. Finally, project sustainability is discussed along with consequences of a possible commercial scale-up in operations

Financial Services to the Unbanked: The Case of the Mzansi Intervention in South Africa

The Mzansi intervention is a major initiative designed to provide banking services to the unbanked South African population. This study investigates the underlying variables that define the choice of a Mzansi account from a consumer perspective. Unlike previous studies, we do not assume that demand for financial services is a given but instead that it is underlain by perceptions and attitudes. Financial attitudes and perceptions are found to exert significant effects on financial choices. In particular, aspirations and forward-looking values are instrumental in facilitating access to finance

Banking the unbanked: the Mzansi intervention in South Africa:

Purpose This paper aims to understand household’s latent behaviour decision making in accessing financial services. In this analysis we look at the determinants of the choice of the pre-entry Mzansi account by consumers in South Africa. Design/methodology/approach We use 102 variables, grouped in the following categories: basic literacy, understanding financial terms, targets for financial advice, desired financial education and financial perception. Employing a computationally efficient variable selection algorithm we study which variables can satisfactorily explain the choice of a Mzansi account. Findings The Mzansi intervention is appealing to individuals with basic but insufficient financial education. Aspirations seem to be very influential in revealing the choice of financial services and to this end Mzansi is perceived as a pre-entry account not meeting the aspirations of individuals aiming to climb up the financial services ladder. We find that Mzansi holders view the account mainly as a vehicle for receiving payments, but on the other hand are debt-averse and inclined to save. Hence although there is at present no concrete evidence that the Mzansi intervention increases access to finance via diversification (i.e. by recruiting customers into higher level accounts and services) our analysis shows that this is very likely to be the case. Originality/value The issue of demand side constraints on access to finance have been largely ignored in the theoretical and empirical literature. This paper undertakes some preliminary steps in addressing this gap

'Even' After Access to Financial Services? Ricocheting Gender Equations

The paper focuses on women's financial behaviour in their use of higher order financial services in Ghana and South Africa, inviting a gendered and social analysis of deconstructing financial behaviour. Women in South Africa are more likely to use general financial products than in Ghana, though in general more men use advanced investment products. Race has an important effect in South Africa. Much of these gender differentials is related to differences in gendered behaviour, yet generalizations on how gender relates to risk aversion is not supported. Rather non-financial approaches may explain how social relations propel women's decision to prioritise the use of financial services as a result of ascribed gender and social roles. These findings contribute to the debates on the feminisation of finance, as women are increasingly interpellated as financial subjects, manifesting the gendered organisation of global financial structures that operate on gendered norms and behaviour

Corporate dividend policy in practice: the views of Nigerian financial managers

Purpose – The purpose of this study is to provide an additional insight into the dividend puzzle by investigating the field practice of dividend policy in an emerging market such as Nigeria. It also aims to contribute to the literature on industry-related dividend effect by examining whether managerial views on dividend policy differ between financial and non-financial firms. Design/methodology/approach – The study employs semi-structured interviews with the financial managers of 21 Nigerian listed firms. The interviewees were divided into two broad groups of financial versus non-financial firms based on the industry classification of the firms. Findings – The findings suggest that, despite differences in institutional environment, the dividend setting process in Nigerian companies is similar in many extents to those in the US and other developed markets. Nigerian companies exhibit dividend conservatism and typically focus on current earnings, stability of earnings and availability of cash when determining their current dividend levels. However, unlike in prior studies, the interviewees suggest that their companies do not have a target payout ratio; instead, they target the dividend per share when determining the disbursement level. Nevertheless, views regarding these issues vary significantly between financial and non-financial firms. Originality/value – This paper adds to the extant literature that has examined the behavioural aspects of dividend policy using interviews, especially in the context of less-developed markets such as Nigeria. The study also updates and extends prior evidence on an industry-related effect on managerial views on dividend policy

Prediction of Excess Air Requirement Using ANN for the Improvement of Boiler Efficiency

An improvement in the efficiency on converting fuel energy to useful thermal energy could result in significant fuel saving for industrial Sector. In this paper artificial intelligence concept using Artificial Neural Network (ANN) is used to predict the optimized excess air requirement using real time and calculated data. This work determines the excess air requirement for complete combustion corresponding to theoretical CO2 in flue gases and real-time values obtained from remote measurements of CO

Culture of Sustainability and Marketing Orientation of Indian Agribusiness in implementing CSR Programs—Insights from Emerging Market

The debate regarding the suitability of market orientation or culture of sustainability for corporate social responsibility (CSR) implementation and economic sustainability deserve much more scholarly attention as globalization and competition in emerging markets increases. Using qualitative content analysis of interviews with 28 senior managers of large agribusiness firms in India, this empirical article explores how market orientation or culture of sustainability affects CSR implementation, or vice versa? The findings of the study identify factors such as the nature of a firm’s business, sensitivity, commitment towards sustainable development, and pressure on profitability that prompt firms to adopt sustainability dominant, market dominant, and sustainability−market mixed corporate culture. Culture of sustainability dominant firms are likely to implement CSR more smoothly and effectively compared to firms that are driven by market orientation. Moreover, firms committed to substantial and consistent CSR are likely to induce culture of sustainability in firms. Finally, the study offers a framework that provides insights into how CSR program implementation and a culture of sustainability are complementary and could strengthen the economic sustainability of firms in emerging markets

Gender diversity on Boards and Forward-looking Information Disclosure: Evidence from Jordan

Purpose The study provides empirical evidence of the relationship between female representation on the board and Forward-looking information (FLI) disclosures. Design/methodology/approach The study uses the content analysis to analyse the narrative evidence from the annual financial reports of non-financial Jordanian companies listed on the Amman stock exchange (ASE). The final sample consists of 1206 firm-years observations during the period 2008-2013. Findings The study provides evidence that gender diversity on boards positively affect the level of FLI disclosures. Further to this, the study reveals that family firms disclose more information than non-family firms. Practical implications Results of this study could be beneficial for a number of users of financial information such as, regulators, investors, auditors and lenders. The users might consider the findings of this study when they are using the company’s financial information. Consequently, users of this information could be better assisted to make right decisions. Originality/value This study contributes to the literature by identifying the role of gender on the level of FLI disclosure, particularly on family and non-family, a relatively little researched area

Effect of peribulbar block on emergence agitation in children undergoing strabismus surgery under desflurane anaesthesia

Background: Strabismus surgery in children may be associated with a high incidence of emergence agitation that may be related to pain and visual disturbances. The objective was to evaluate the effect of peribulbar block on the incidence of emergence agitation in children undergoing strabismus surgery under desflurane anaesthesia.Methods: Fifty-six healthy children aged 2–10 years, undergoing strabismus surgery under general anaesthesia, were recruited. Children were randomly allocated to receive fentanyl 2 μg/kg (Group F) or peribulbar block (Group PB) with 0.3 ml/kg of 0.25% bupivacaine + 2% lignocaine. The primary outcome of the study was incidence of emergence agitation; secondary outcome measures were time to first rescue analgesia, the incidence of oculocardiac reflex and vomiting.Results: Of 52 children, 14/25 (56%) children in Group F developed emergence agitation compared with 3/27 (11.11%) in group PB (p = 0.001). Postoperatively, the paediatric anaesthesia emergence delirium scores showed significantly lower emergence agitation in the PB group with a median (IQR) of 0.00 (0.00–2.00) compared with group F (5.5 (0.75–8.75) at all time intervals (p = 0.003 Mann–Whitney test). Pain scores were comparable between groups (group F 48% vs. group PB 25.9%). The time to first rescue analgesia was increased in group PB (126.875 ± 38.22 min vs. 88.08 ± 28.48 min in group F). The oculocardiac reflex occurred in 7/25 in Group F compared with 1/27 in Group PB (p = 0.015). There was no difference in the incidence of postoperative vomiting (24% in Group F vs. 22% in Group PB).Conclusion: Use of peribulbar block in children undergoing strabismus surgery under desflurane anaesthesia was associated with reduced incidence of emergence agitation and oculocardiac reflex but did not significantly increase the time to first analgesic or the incidence of pain and vomiting. A sub-tenon block may be safer and provide better operating conditions and equal analgesia.Keywords: agitation, children, anaesthesia, strabismus surgery, peribulbar bloc

Female directors and earnings management: Evidence from UK companies

Since the gender diversity of boards and the reporting of earnings are two of the most debated issues in the corporate world, the paper examines how the presence of women directors on the corporate board influences earnings management practices. We found that firms with a higher number of female and independent female directors are adopting restrained earnings management practices in the UK. We further made a distinction between high- and low-debt firms, and the outcomes reveal that female directors have a positive effect on the earnings management in low debt firms. The paper contributes to the debate on gender diversity on boards, and its impact on the use of accounting discretion in financial reporting