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Full-Text Articles in Finance and Financial Management

Determinants Of Earnings Management Choice Among Publicly Listed Industrial Firms In The Philippines, Cynthia P. Cudia, Aeson Luiz C. Dela Cruz Jan 2018

Determinants Of Earnings Management Choice Among Publicly Listed Industrial Firms In The Philippines, Cynthia P. Cudia, Aeson Luiz C. Dela Cruz

DLSU Business & Economics Review

Earnings management involves the use of acceptable accounting rules and procedures as well as circumventing business activities to achieve desired ends. In the literature, earnings management through discretionary accruals has always been associated with an opportunistic motive to mislead various stakeholders about a business’ financial performance to the advantage of owners and managers. However, the literature presented two possible motives behind earnings management, namely: an opportunistic, a self-serving perspective which mirrors the agency problem; and an efficient motive which utilizes earnings management as a signalling mechanism to send signals about the firm to its stakeholders. In this paper, we investigate …

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Predictors Of Humanistic Sustainability Hrm Practices, Ana Liza Asis-Castro, Divina M. Edralin Jan 2018

Predictors Of Humanistic Sustainability Hrm Practices, Ana Liza Asis-Castro, Divina M. Edralin

DLSU Business & Economics Review

We determined and compared the degree of implementation of humanistic sustainability human resource management (HRM) practices. We analyzed which among the firm demographics, such as the number of years of operation, size, and type of ownership, is its significant predictor. Based on the Motivations of Humanistic “Sustain Ability” framework where the HRM practices were rooted, we used the descriptive, correlational, and causal research designs to analyze the 137 samples responses of various companies who participated in the survey. Our results showed that Philippine companies were moderately implementing humanistic sustainability HRM practices. It also indicated that those that were registered as …

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Analysis Of Food Demand Elasticity Of Rice For The Poor In Aceh, Indonesia: An Almost Ideal Demand System Approach, -- Suriani, Diana Sapha A.H, Cut Zakia Rizki Jan 2018

Analysis Of Food Demand Elasticity Of Rice For The Poor In Aceh, Indonesia: An Almost Ideal Demand System Approach, -- Suriani, Diana Sapha A.H, Cut Zakia Rizki

DLSU Business & Economics Review

The purpose of this study is to empirically explore the effect of rice for the poor (Raskin) or subsidized rice consumption on the food demands elasticity of poor households. The study utilizes the primary data collected in 2015 based on the purposive sampling method for establishing the homogeneity characteristics of Raskin beneficiary’s households. An Almost Ideal Demand System approach is adopted to measure the proportion of food commodities expenditure of the poor and the demand elasticity as well as their responses to the income elasticity. Additionally, the correlation analysis is utilized to investigate the relationship between the selected socioeconomic variables …

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Institutional Ownership In Relation To The Mandatory Audit Firm Rotation Rule And Its Effect On Audit Quality, Latisha Shah Jan 2018

Institutional Ownership In Relation To The Mandatory Audit Firm Rotation Rule And Its Effect On Audit Quality, Latisha Shah

CMC Senior Theses

Previous studies have concluded that mandatory audit firm rotation (MAFR) has not been successful in controlling the outcomes of the auditor-client relationship. Additionally, the literature concludes that high institutional ownership enhances audit quality through monitoring the management-auditor relationship. This paper hypothesizes that better corporate governance in terms of high institutional ownership percentage will enhance audit quality during a MAFR regime. Since countries that have implemented MAFR in the past have their data in their local languages, I use the special case of Arthur Andersen clients based in the US as my treatment group. I carry out a descriptive statistical analysis …

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The Effect Of Mandatory Adoption Of Ifrs On Transparency For Investors, Crystal Anderson Jan 2018

The Effect Of Mandatory Adoption Of Ifrs On Transparency For Investors, Crystal Anderson

CMC Senior Theses

This paper examines the effect of the mandatory adoption of the International Financial Reporting Standards (IFRS) on transparency for investors by measuring the increase in earnings management during the post-adoption period of IFRS. One sign of earnings management is current year earnings being only slightly higher than the previous year’s earnings. An increase in earnings management means a decrease in accounting quality and a decrease of transparency for investors. By comparing firms that mandatorily adopted IFRS to similar benchmark firms in terms of strength of legal enforcement, book-to-market ratios, market values and net incomes, I am able to run empirical …

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The Balance Between Financial And Quality Performance In For-Profit Hospitals Versus Non-Profit Hospitals, Blake Seidner Jan 2018

The Balance Between Financial And Quality Performance In For-Profit Hospitals Versus Non-Profit Hospitals, Blake Seidner

CMC Senior Theses

Recent trends of financial distress for non-profit hospitals and the uptick in acquisition of these hospitals by for-profit entities indicate different focuses from the management of each type of hospital. Using data on hospital quality and basic financial measures, this study examines shift in the balance of financial and quality performance. The dataset focuses on private non-profit and for-profit hospitals with low bed counts, ranging from 50-200 total beds. Results indicate a positive relationship between for-profit status and basic financial performance measures, such as profitability, and a negative relationship with patient experience, cost reduction for the patient, and overall quality. …

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Long-Run Linkages Of Asean+3 Floating Currencies, Cesar C. Rufino Jan 2018

Long-Run Linkages Of Asean+3 Floating Currencies, Cesar C. Rufino

DLSU Business & Economics Review

The extent with which currencies of the expanded ASEAN grouping commonly known as the ASEAN+3 have attained long-run currency linkages—an important requisite for an eventual monetary integration—is the main focus of this study. High-frequency interbank call rates (nominal exchange rate vis-à-vis the US dollar) data on seven floating currencies of the region with sufficient historical time series covering the period of 1998 to 2012 (weekly: January 7, 1998, to December 26, 2012—average of bid and ask rates on Wednesdays) constitute the primary database of the study. The goal is to establish through cutting-edge econometric procedures three crucial outcomes: the bilateral …

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Asean Bond Market Integration: What Drives Cross-Border Bond Investment In Asean?, Angelo Taningco Jan 2018

Asean Bond Market Integration: What Drives Cross-Border Bond Investment In Asean?, Angelo Taningco

DLSU Business & Economics Review

Bond market integration in the Association of Southeast Asian Nations (ASEAN) appears to be relatively low or weak especially in terms of intraregional bond investment despite the robust growth in bond market size in recent years and policy initiatives in support of developing bond markets in the region. This paper aims to contribute to the literature on ASEAN financial integration by providing empirical evidence and policy insights on what can help boost intra-ASEAN bond investment. Using panel regression following a gravity model framework and spanning five major ASEAN member countries—Indonesia, Malaysia, the Philippines, Singapore, and Thailand—over the 2001–2014 period, this …

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Is A Regional Credit Rating Agency For The Asean Feasible?, Tereso S. Tullao Jr, Christopher James R. Cabuay,, Daniel S. Hofileña Jan 2018

Is A Regional Credit Rating Agency For The Asean Feasible?, Tereso S. Tullao Jr, Christopher James R. Cabuay,, Daniel S. Hofileña

DLSU Business & Economics Review

In the spirit of deepening the bond markets of the ASEAN+3 region, as well as addressing the inadequacies put forth by the underrating of bonds by global credit rating agencies (GCRAs) and their lack of recognition of domestic CRAs’ (DCRAs) ratings, we look into the feasibility of a regional CRA (RCRA). Establishing an RCRA is faced with hurdles related to institutional and reputational constraints, mechanisms of information exchange, compatibility of financial reports, operational limitations, governance structure, and regulatory frameworks. In this light, we provide a brief discussion on potential alternatives such as the credit ratings initiative of the National University …

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Testing The Assumptions Of Slippery Slope Framework On Tax Compliance: Evidence From Nigerian Smes, Augustine Ayuba, Natrah Saad, Zaimah Zainol Ariffin Jan 2018

Testing The Assumptions Of Slippery Slope Framework On Tax Compliance: Evidence From Nigerian Smes, Augustine Ayuba, Natrah Saad, Zaimah Zainol Ariffin

DLSU Business & Economics Review

This paper integrates the assumptions of the Slippery Slope Framework in explaining the tax compliance of small and medium enterprises. This study tests these assumptions in relation to SMEs taxpayers to further reestablish the applicability of the framework with different kinds of taxpayers. Partial Least Squares Structural Equation Modeling (PLS – SEM) further supported the framework in analyzing the data of this study. The findings reveal that perceived corruption along with perceived service orientation strongly interact each other in expounding the paradox surrounding tax compliance.

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Strategies To Minimize Direct Care Worker Shortages, Eric Ik Iloabachie Jan 2018

Strategies To Minimize Direct Care Worker Shortages, Eric Ik Iloabachie

Walden Dissertations and Doctoral Studies

There is a worldwide shortage of direct care workers who help older adults in their own homes. The purpose of this multiple case study was to explore strategies that owners of home health care businesses can use to retain adequate direct care workers for their businesses. Five home care agency owners from Wake County, North Carolina, participated. Each owner had successfully implemented strategies to ensure adequate caregivers to sustain the business. Human relations theory was used to address the business problem. Data collection involved interviewing the 5 owners of home care agency businesses in their offices. Through a process of …

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Association Of Insider Trading Patterns With Earnings Management Citations From 2002-2012, Anne-Mary Emuobonuvie Nash-Haruna Jan 2018

Association Of Insider Trading Patterns With Earnings Management Citations From 2002-2012, Anne-Mary Emuobonuvie Nash-Haruna

Walden Dissertations and Doctoral Studies

Insider trading and earnings management (EM) have traditionally been associated with fraud and corporate scandals. Corporations involved in fraudulent financial reporting or earnings manipulations were assumed to have used insider trading patterns to manipulate earnings, thereby concealing information from investors. The purpose of this quantitative, non-experimental study was to examine the association between insider trading patterns and EM citations among a randomly selected sample of publicly traded companies. The research question pertained to the association between the number of EM citations and whether a firm exhibited patterns of insider trading among publicly traded firms. The theoretical framework was based on …

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Corporate Governance Implementation In The Nigerian Banking Industry, David Nkata Bassey Jan 2018

Corporate Governance Implementation In The Nigerian Banking Industry, David Nkata Bassey

Walden Dissertations and Doctoral Studies

The increasing level of fraud, the collapse of banks, and the loss of confidence in the Nigerian banking industry have been attributed to poor corporate governance. The problem of this study was effective implementation of corporate governance in Nigeria where multiple regulations are in place. The purpose of this qualitative single case study was to understand how corporate governance is implemented in the Nigerian banking industry in the face of a multiplicity of regulations. The research question investigated how Nigerian bank managers implement corporate governance regulations in the face of a multiplicity of regulations. The conceptual framework was grounded in …

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Strategies For Reducing Corporate Accountants' Turnover Through Implementing Workplace Flexibility, Elizabeth Nwoseh-Streeter Jan 2018

Strategies For Reducing Corporate Accountants' Turnover Through Implementing Workplace Flexibility, Elizabeth Nwoseh-Streeter

Walden Dissertations and Doctoral Studies

Flexibility in the workplace is no longer perceived as a benefit to employees but as a requirement for organizations to remain competitive. Financial compensation alone may be insufficient to encourage employee retention. The purpose of this qualitative, single case study was to explore the strategies that corporate accounting and finance leaders implement to promote workplace flexibility for increasing accountants' retention. The conceptual framework for this study was Karasek's demand control support framework. The research sample consisted of 6 corporate accounting and finance leaders who had a history of successfully implementing a workplace flexibility program. Data analysis consisted of compiling the …

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Anticipation And Reaction To Going Concern Modified Audit Opinions By Sophisticated Investors, Marshall A. Geiger, Abdullah Kumas Jan 2018

Anticipation And Reaction To Going Concern Modified Audit Opinions By Sophisticated Investors, Marshall A. Geiger, Abdullah Kumas

Accounting Faculty Publications

The purpose of this paper is to examine whether institutional investors (i) anticipate a distressed firm's receipt of a first‐time going‐concern modified audit opinion, and (ii) react to a first‐time going‐concern modified opinion by engaging in abnormal net selling of firm shares. Using a proprietary database of US institutional investor trades, we find that institutional investors are net sellers of first‐time going‐concern opinion firms beginning 6 months before the release of the report and remain net sellers through the subsequent 3 months. We also find that the severity of the reasons auditors modify their opinions is associated with increased trading …

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Pre-Management? How To Best Prepare: A Brief Overview For Potential Accounting, Finance, And Information Systems Students, Ammon Kou Dec 2017

Pre-Management? How To Best Prepare: A Brief Overview For Potential Accounting, Finance, And Information Systems Students, Ammon Kou

Marriott Student Review

Many pre-management students are curious about the accounting, finance, and information systems majors offered at BYU. This article features an overview of each major and how best to prepare for those majors’ programs.

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The Market At Work, Patrick Flynn Dec 2017

The Market At Work, Patrick Flynn

Honors Projects

I believe my project will be the best project for me using both of my majors. It is a great way for me to take some of the knowledge I learned here at BGSU and apply it to a real life scenario I could pursue in future years. Investing at a young age is very important to help raise a lot of money for my retirement, something that I am learning right now in class. People coming out of college usually aren’t very concerned with investing at such a young age. I want to take advantage of this opportunity that …

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Eva: An Indicator Of Corporate Bankruptcy?, Amanda (Jinxian) Lu Dec 2017

Eva: An Indicator Of Corporate Bankruptcy?, Amanda (Jinxian) Lu

Honors College Theses

Economic value added (EVA) analysis is one of the most common methods to evaluate company’s performance in terms of value creation, which involves ROIC (Return on Invested Capital) and WACC (Weighted Average Cost of Capital) as key drivers. Past studies evaluate the superiority of EVA over other measures of performance and relationship between EVA and stock returns. This paper analyzes the relationship between EVA and bankruptcy on 373 public traded companies in U.S. of which 178 companies filed for bankruptcy between the year of 2015 to October 2017. We present descriptive statistics, conduct univariae grouping tests and correlation between ROIC, …

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The Equity-Financing Channel, The Catering Channel, And Corporate Investment: International Evidence, Yuanto Kusnadi, John K. C. Wei Dec 2017

The Equity-Financing Channel, The Catering Channel, And Corporate Investment: International Evidence, Yuanto Kusnadi, John K. C. Wei

Research Collection School Of Accountancy

We examine how stock market mispricing affects corporate investment in an internationalsetting. We find that investment is more sensitive to stock prices for equity-dependent firms thanfor non-equity-dependent firms in our international sample. Investment is also more sensitive tostock prices for firms located in countries with more developed capital markets (i.e., lower costsof raising capital), higher share turnover (i.e., shorter shareholder horizons), and higher R&Dintensity (i.e., more opaque assets). More importantly, the positive relation between equitydependence and the sensitivity of investment to stock prices is more pronounced for firmslocated in these same countries. These findings are consistent with the equity-financinghypothesis and …

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Faculty Focus: Mark Frigo Named Ezerski Chair Nov 2017

Faculty Focus: Mark Frigo Named Ezerski Chair

Business Exchange

Accountancy Professor Mark L. Frigo has been named Ezerski Endowed Chair in the School of Accountancy and Management Information Systems, which recognizes accountancy faculty excellence. Prior to joining DePaul, Frigo led a successful career in corporate financial analysis and management consulting at KMPG, among other accomplishments.

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Additional Evidence On The Impact Of The International Financial Reporting Standards On Earnings Quality: Evidence From Latin America, Mauricio Melgarejo Oct 2017

Additional Evidence On The Impact Of The International Financial Reporting Standards On Earnings Quality: Evidence From Latin America, Mauricio Melgarejo

Scholarship and Professional Work - Business

The purpose of this paper is to explore whether the adoption of the International Financial Reporting Standards (IFRS) has an impact on the quality of earnings in Latin America. Studying a sample offirms from Argentina, Brazil, Chile, Mexico, and Peru, I find that management reports a lower level of discretionary accruals after the implementation of the IFRS. In addition, this study provides evidence that earnings are more persistent and stock prices are more associated with earning numbers after the application of IFRS. This paper provides evidence that earnings quality has increased after the adoption of IFRS in Latin America.

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International Trade And Unemployment: Evidence From Selected Asean+3 Countries, Atif Awad, Ishak Yussof Jul 2017

International Trade And Unemployment: Evidence From Selected Asean+3 Countries, Atif Awad, Ishak Yussof

DLSU Business & Economics Review

The present study seeks to examine empirically whether exposure to international trade creates or destroys jobs for a sample of eight ASEAN+3 countries (APT). The findings of the PMG technique shows that trade liberalization policies have a negative influence on unemployment rate in the long run. Since medium and unskilled workers are the majority of the workforce, a reduction in trade barriers is likely to expand the trading sector. For the APT countries to compete globally, the trading sector is likely to shift to a more efficient production mode by using intensive capital and high skilled labor, leaving unskilled workers …

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Transformational Leadership, Job Satisfaction, And Intention To Quit: A Sequential Mediation Model Of Meaning In Work And Work Engagement, Mohammed Yasin Ghadi Jul 2017

Transformational Leadership, Job Satisfaction, And Intention To Quit: A Sequential Mediation Model Of Meaning In Work And Work Engagement, Mohammed Yasin Ghadi

DLSU Business & Economics Review

This study aims to determine the indirect impact of transformational leadership on two job related outcomes: general job satisfaction and intention to quit, by integrating sequential mediating mechanisms of employees’ perceptions toward the job (i.e., the experience of meaningful work) and employees’ perceptions toward own self (i.e., employee engagement) as underlying mechanisms to understand transformational leadership impact in the Australian context. The proposed model was tested using a heterogeneous sample of employees working in various Australian sectors. The study sample consisted of 530 full-time employees working in Australia. This was done by applying structural equation modelling and MEDTHREE technique. The …

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Does Director Interlock Impact The Diffusion Of Accounting Method Choice?, Jie Han, Nan Hu, Ling Liu, Gaoliang Tian Jul 2017

Does Director Interlock Impact The Diffusion Of Accounting Method Choice?, Jie Han, Nan Hu, Ling Liu, Gaoliang Tian

Research Collection School Of Computing and Information Systems

This paper examines the influence of director interlock on firms' discrete accounting method choices from the perspective of behavior diffusion. We argue that firm managers will imitate their interlocked-partner firm's accounting method choices when choosing their own accounting methods. We find that when there is an interlock relationship between two firms, their accounting method choices, including inventory and depreciation methods, are similar to each other, indicating that accounting method choices can diffuse across firms through director interlock. In addition, such similarity is greater the longer the interlock relationship between the two firms is and as uncertainty increases. Further, the interlock …

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Gender Gap In Entrepreneurship: Evidence From Argentina, Sebastian Auguste, Alejandro Bricker Jul 2017

Gender Gap In Entrepreneurship: Evidence From Argentina, Sebastian Auguste, Alejandro Bricker

DLSU Business & Economics Review

We investigate which factors affect the gender gap in entrepreneurship using evidence from CBMS Argentina and the Oaxaca-Blinder decomposition for nonlinear models. The dataset allows us to construct a series of personality variables (risk aversion, social aversion, outgoing attitude, flexibility desire, and effort aversion) which are usually missing in standard household surveys. In addition, we can measure current entrepreneurial activity as well as failure from the past. We find that there is no evidence of discrimination in the event of starting up, since the small gap between women and men can be fully explained once the new personality variables are …

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The Impact Of Remittances On The Youth’S Human Resource Development, Employment, And Entrepreneurship: Evidence From Philippine Cbms Data, Christopher James R. Cabuay Jul 2017

The Impact Of Remittances On The Youth’S Human Resource Development, Employment, And Entrepreneurship: Evidence From Philippine Cbms Data, Christopher James R. Cabuay

DLSU Business & Economics Review

International migration has been a significant avenue for many Filipinos to make use of interspatial differences in purchasing power, to send home remittances, and to maximize household income. However, migration has had a stigma of being disruptive to children’s educational outcomes, and remittances have been noted to cause dependence among working age members. This study estimates the impact of remittances on the human resource development, employment, and entrepreneurial outcomes and choices of the Philippine youth, individuals aged fifteen to thirty, using CBMS data census of selected De La Salle school communities. I employ an instrumental variable multinomial logistic regression to …

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Evaluating Government Programs For Enhancing The Welfare Of The Youth Towards Entrepreneurship, Mitzie Irene P. Conchada, Marites M. Tiongco, Paulynne J. Castillo, Divina E. Edralin Jul 2017

Evaluating Government Programs For Enhancing The Welfare Of The Youth Towards Entrepreneurship, Mitzie Irene P. Conchada, Marites M. Tiongco, Paulynne J. Castillo, Divina E. Edralin

DLSU Business & Economics Review

No abstract provided.

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Role Of Education In Encouraging Youth Employment And Entrepreneurship, Brian C. Gozun, John Paolo R. Rivera Jul 2017

Role Of Education In Encouraging Youth Employment And Entrepreneurship, Brian C. Gozun, John Paolo R. Rivera

DLSU Business & Economics Review

More than half of the Philippines’ jobless sector is comprised of the youth. This warrants the need to identify the constructs and create policy frameworks that would facilitate employability and entrepreneurship among the Filipino youth. Using the Community Based Monitor System (CBMS) survey on Accelerated Poverty Profiling among member schools of De La Salle Philippines, we estimate a multinomial logistic regression that highlights how demographic characteristics and level of education influence a youth’s likelihood to be employed or to be entrepreneurial. Our results provide a framework for policymakers in improving program design and policy implementation targeted towards youth employment and …

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Determining The Credit Risk Factors In Accessing Debt Financing For Entrepreneurial Activities, Junette A. Perez, Denmark C. Alarcon, Mar Andriel S. Umali Jul 2017

Determining The Credit Risk Factors In Accessing Debt Financing For Entrepreneurial Activities, Junette A. Perez, Denmark C. Alarcon, Mar Andriel S. Umali

DLSU Business & Economics Review

Access to debt financing can be explained by the capability to pay of the borrower. The idea is that the better the capability to pay of a borrower, the wider his option to access debt financing and secure bank capital. As a derivative function of the individual and business characteristics of the borrower, the credit risk factors among others include housing type, education, share of income, total sales and total expenses, business and unemployment and economic skills. Using the Community Based Monitoring(CBMS) data, a three stage methodology has been implemented. Regression results show that having business capital is positively affected …

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Togolese Informal Sector Workers’ Willingness To Pay For Access To Social Protection, Esso-Hanam Atake, Akoété Ega Agbodji Jul 2017

Togolese Informal Sector Workers’ Willingness To Pay For Access To Social Protection, Esso-Hanam Atake, Akoété Ega Agbodji

DLSU Business & Economics Review

In Togo, the informal sector accounts for 84% of the workforce with an annual growth rate of 5%. Despite the importance of the informal sector workers in the Togolese productive activity, they do not benefit from social protection. To address this situation, Act No. 2011-006 was adopted by the Togolese National Assembly in 2011 to provide social security to informal sector workers. However, this was not applied, which means they are still not covered by social protection. This paper seeks to estimate the willingness-to-pay (WTP) of informal workers to have access to social protection services offered by National Social Security …

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