Forensic Investigation Into Petroleum Products Consumption, Subsidisation and Fiscal Spending in Nigeria by C. E. Alozie (PhD)

This paper analytically investigated petroleum products procurement, volume of consumption, fiscal expenditure on consumption subsidies, the utilisation of domestic crude-oil allocations in local refining production in satisfying consumption, discipline in the approved subsidy expenditure budget. Ex-post ‘facto’ materials were employed. Numerical descriptive statistics on volume of locally produced-supplied to imported products volume ratios, budget deviation indexing for fiscal discipline; simulated ‘produce or import simulation of prior fiscal expenditures. Results indicate that local refining output of petroleum products were partly the major root cause of insufficient source of supply of products procurements which in turn compelled Nigeria to be reliant on importation in satisfying consumption requirements. Domestic crude allocation utilisation for refining production indicates that only about 33 percent of average aggregate expected minimum refined petroleum products yields of average aggregate volume consumption requirements were recorded. Budget discipline is lacking. Gross undersupply of electricity induced constant rise in the consumption of petroleum products. The paper concludes that lack of proper routine maintenance of extant local refineries, production inefficiencies as well as grossly mismanagement of the daily domestic crude-oil allocations were primarily responsible for the huge fiscal subsidies expenditure. Nigeria’s indulgence in fuels importation and negligence of local refineries is tantamount to creating employment in those other refined fuels producing countries and escalating unemployment in Nigeria. T Fiscal spending on subsidies would have funded proper routine TAM and build four new refineries which is financing option that ought to have guaranteed ‘pareto optimality’ in the economy.

The use of crowdfunding and its impact on entrepreneurship in the city of Ambato - Ecuador

Crowdfunding and its impact on entrepreneurship in the city of Ambato are studied, according to several authors the variables are associated quite well when undertaking an idea and seeking financing. Within this process, the advantages and disadvantages of using crowdfunding are highlighted, as well as the process to undertake and finance projects. The results express that there is still the wrong thinking that financing is a limitation to undertake and they do not look for options in the market that can satisfy their needs. The results to entrepreneurs show that there is ignorance about crowdfunding but there is a real interest in learning about the subject and using it; also that the first financing option is banking. Finally, through the chi square the hypothesis is verified, accepting that crowdfunding does impact the enterprises of the city of Ambato. Keywords: Crowdfunding, Entrepreneurship, Investments, Financing, Economic performance. References [1]R. Abdurrahman, M. Erna amd M. Anang, «Digital Marketing and SMEs: A Systematic Mapping Study,» Library Philosophy and Practice (e-journal), 2 Agosto 2021. [2]Ley Orgániza de Emprendimiento e Innovación, 2020. [3]Crowdfunding ORG, «Crowdfunding una nueva forma de recaudar dinero para los proyectos,» 2020. [4]M. García and J. Saiz, «Concepto de emprendimiento, teorías y nuevos enfoques. Crowdfunding y nuevas formas de financiamiento,» Handbook of Science and Technology, 2017. [5]P. Moina, L. Morales and A. Córdoba, «El crowdfunding un nuevo mecanismo de impulsar la economía en el Ecuador,» Revista de Ciencias de la Administración y Economía, 2020. [6]A. Briones, «Concepto de Crowdfunding,» IEPS, p. 22, 2019. [7]E. Flores, «Diseño de un Centro para Emprendedores en una Escuela Profesional de Ingeniería aplicando el Modelo Lean Canvas,» Perú, http://dx.doi.org/10.4067/S0718-50062019000600151, 2019. [8]A. Kritiko, «Emprendedores y su impacto en el empleo y el crecimiento económico,» DIW Berlin, University of Potsdam, and IZA, Germany, 2019. [9]J. Gallestegui, «Franquicias regionales,» Emprender Revista, México, 2006. [10]E. Tenori, «Jóvenes emprendedores,» IEPS, p. 14, 2017. [11]A. Marin, «Procesos de analisis de emprendimientos y negocios,» USFQ, pp. 35-63, 2017. [12]D. Ricardo, «Emprender en la nueva era,» Emprendedores LATAM, 2017. [13]T. Trang, «Emprendimiento, autoempleo y creación de empleo en Vietnam,» Agricultural Economics and Management-Master's Programme, 2019. [14]A. Villamar, G. Zambrano and A. Regalado, «Medios digitales en el posicionamiento de marca,» Espíritu Emprendedor TES, p. 1, 2019. [15]L. Jiménez and S. Acosta, «El crowdfunding como alternativa para el emprendedor del siglo XXI,» 2019.

FIRST-TIME HOMEBUYERS’ INTERESTS IN USING PROPERTY CROWDFUNDING AS AN ALTERNATIVE FINANCING OPTION

Property crowdfunding as an alternative financing option for first-time homebuyers was introduced by the Malaysian government during the presentation of the National Budget 2019. This platform was the first of its kind, and targeted fundraisers who were first-time homebuyers, i.e., those allowed to raise financial support for their home purchase via the platform. As the mechanism of the Malaysian property crowdfunding platform is new to homebuyers, this study aims to explore homebuyers’ interests to use property crowdfunding platform as an alternative financing option for the purchase of their first home. First-time homebuyers’ opinions were collected through face-to-face interviews, and content analysis was performed to analyse the obtained qualitative data. Key themes were identified and organised into three sections: (i) knowledge of the property crowdfunding; (ii) factors that motivated the use of the property crowdfunding and (iii) barriers that hindered the use of the property crowdfunding. These findings are expected to contribute toward the adoption of the property crowdfunding in Malaysia.

Disruptive financial innovations: the case of Nigerian micro-entrepreneurs

PurposeDespite the noticeable consequences of disruptive financial innovations, access to finance remains a major factor inhibiting the sustainable-growth potentials of young micro-entrepreneurs in informal settings. This study examines the determinants of financing options among micro-entrepreneurs in informal settings. Specifically, the study seeks to establish whether credit history, income, asset, gender, awareness and network capability have effects on formal and informal financing options among micro-entrepreneurs in informal settings.Design/methodology/approachThis article uses the survey research design and administers a structured questionnaire among 300 purposively selected micro-entrepreneurs within the University of Lagos, Nigeria. Only 291 completed questionnaires are retrieved. This article also uses the multiple regression analysis to estimate the empirical model and test the research hypotheses respectively.FindingsThis article establishes that: (1) credit history and assets-based financing are significant determinants of formal financing options among young micro-entrepreneurs in informal settings, (2) gender and network capability are significant determinants of informal financing options among young micro-entrepreneurs in informal settings and (3) awareness is significant of both formal and informal financing options among young micro-entrepreneurs in informal settings.Originality/valueThis article examines the determinants of financing option among young micro-entrepreneurs in informal settings. Specifically, the study seeks to establish whether credit history income asset gender awareness and network capability have effects on formal and informal financing options among micro-entrepreneurs in informal settings.

Leasing as an Alternative Form of Financing within Family Businesses: The Important Advisory Role of the Accountant

Although leasing can be an interesting financing option from an economic point of view, family businesses are found to be less prone to lease. In this study, we examine the view of the external accountant on leasing as an alternative form of financing within family businesses. After all, as the most trusted advisor, the accountant likely has a significant influence on the financial decisions that are taken within private family businesses. By means of an exploratory qualitative study, we examine what factors influence the advice for a particular financing option and the accountant’s recommendation to lease or not to lease within family businesses. By combining the extant literature with the results of this exploratory qualitative research, we formulate propositions that form fruitful avenues for future research.

Financial leasing in Albania and the impact that internal factors of a SME would have on the probability to be financed by lease

Small- and medium-sized enterprises (SMEs) are the backbone of the economy and their need to be financed remains one of the most discussed topics in the business world (World Bank, 2014; IFC, 2010). Financial leasing is a midterm financial instrument mainly used for the procurement of machinery, equipment, tools and/or property (IFC, 2009). Although the financial leasing in Albania started in 2001, this form of business financing has experienced difficulties in spreading, getting recognised and being used by the public in Europe which is different from other countries. About 19 years after the creation of the first leasing companies, this financing option continues to be used at a low scale by businesses and individuals and it remains segmented into the market despite its large potential and the need for financing similar to SMEs. Why is financial leasing not yet used in Albania and which are some of the factors that would influence its use in the future? The purpose of this article is to identify the reasons of why the financial leasing market in Albania is in stagnation and understand some of the factors that influence the demand from a SME to be financed through lease. To achieve this and understand firms’ behaviour, questionnaire has been distributed to companies that have used lease to finance their asts and those that have never used it before. The model used to analyse the results of the questionnaires is the logistic regression. As we will see through the article, factors in need for financing by SMEs or the knowledge firms have about leasing have a direct impact on the possibility of firms to use lease.

Breaking the Formal Financing Barriers Facing Entrepreneurs

Financing programs at both start-up and growth phases are confronted with a number of institutional barriers. However, the digital era with its attendant benefits of interconnectedness has provided an alternative financing option called crowdfunding for internet-savvy entrepreneurs. Crowdfunding is a digital-based tool used to raise funds for different projects contributing to socio-economic development. The chapter discusses crowdfunding as an alternative financing option for enterprise development in Nigeria. Using a desk research technique, this chapter highlights the prospects of crowdfunding and strategies for leveraging crowdfunding as a viable alternative financing alternative in Nigeria. As an internet-driven process, this chapter identifies a number of challenges, but the most fundamental is the absence of regulatory environment to protect investors, a development that is in contrast to developed countries where crowdfunding is guided by enabling legislation. The chapter concludes with a number of research implications and suggestions.

A Case Study on Rent Pricing of Financial Leasing of Photovoltaic Enterprises Taking Henan Yicheng New Energy Co., Ltd. as an example

Photovoltaic power generation industry, as a strategic emerging industry with heavy assets in China at present, the contradiction between the gradual reduction of policy subsidies and the rapid expansion of installed capacity of the industry is becoming more and more acute. Under the background of tightening bank intervention policy and insufficient matching of funds, China’s photovoltaic industry is generally faced with financing difficulties, and its development is slow and urgent. At present, financial leasing has become the second largest financing option for distributed photovoltaic manufacturers except bank loans. The purpose of this paper is to study how to revitalize the existing capital and optimize the capital structure by means of financing sale and leaseback, and try to discuss the rental pricing scheme by measuring the financial leasing cost of photovoltaic power plans.

P2P Lending: Bridging India’s Credit Gap

With the financial meltdown, new financial innovations and alternative investment products made their way to India. The concept of Peer to Peer lending is an alternative financing option available to the unbanked section of the population or people with limited institutional credit exposure. Developments in new digital tools, alternate credit models enabled bridging of the credit gap. With RBI devising a regulatory framework and stringent policies, these NBFC-P2Ps have been given a needed push to the cause of financial inclusion in the Economy.