The presence of frictions can alter the relationship between corporate profitability and national wealth. This paper examines the relationship between corporate financial performance and economic growth in Benin, focusing primarily on the impact of volatile changes in the official exchange rate of the Nigerian naira on this relationship. Using aggregate microeconomic data on 234 formal firms of all categories (small, medium and large), complemented by quarterly data on the economy as a whole from 2013 to 2018, two error-correction models were estimated using time-series econometric techniques. The results show that firm performance has a positive impact on long-term growth when the real exchange rate of the naira improves, while high exchange rate volatility worsens the effect. These findings suggest that efforts should be made to significantly reduce the negative impact of the naira by continuously improving the quality of institutions, in particular through better regulation and governance, and a rigorous fight against corruption, while at the same time increasing the effectiveness of financing for businesses so that their financial performance can be closely linked to the growth of the Beninese economy.

Keywords: Financial performance, companies, economic growth, exchange rate volatility, naira.
JEL: G32, F31, O11.

This study assesses the performance and risk of thirty-four US-listed Asia Pacific equity Exchange Traded Funds (ETFs) from 2016-2023. Both raw and risk-adjusted returns and ETFs’ ability to achieve positive alphas have been examined. Performance and risk persistence have been investigated too. The empirical findings show that the average return of the examined ETFs is positive while the average risk is rather low. The results also indicate that the sample’s ETFs do not achieve significantly positive alphas. Regarding persistence, the results reveal that the Asia Pacific ETFs can occasionally repeat their performance between two successive years, while risk is more persistent through time.

Keywords: ETFs, Performance, Risk, Asia Pacific Stock Markets, Diversification
JEL Classification: G11

The current study investigates the validity of the traditional urban economic theory of spatial distribution structure in relation to the labour market’s value of commute and leisure time considering the recent pandemic-induced Work-from-Home (WfH) situation.

A structured literature review is performed to study the (1) early models of spatial distribution of households and firms like the monocentric city model, and (2) investigate the extensions of the basic models to study the impact of commute time on location decisions. Based on gaps revealed in the review, two theoretical model extensions are built to suggest (3) the impact of WfH on the life satisfaction of the urban labourers in the form of reduced Work-Family-Conflict (WFC) and (4) the impact of WfH on urban density and/or urban sprawl.

Empirical testing of the model extensions suggested in this paper could be used to encourage employers to rethink innovative strategies to engage workers by providing them with more work location and hours flexibility yet maintaining productivity. For urban planners, these findings can be an opportunity to pause and rethink how the urban spaces can be put to alternative uses like parks and gardens to generate revenue for the city while maintaining social distancing.

Keywords: Work-from-home; work-family-conflict; new-norm, social distancing, life-satisfaction, Covid-19.

This research investigates the impact of Industry 4.0 on the accounting profession, focusing on the opportunities and challenges it brings. It examines the positive and negative implications of this technological shift and the skills accountants need to succeed in an increasingly digital landscape. Through a comprehensive literature review, this study highlights how Industry 4.0 is reshaping traditional accounting practices, requiring accountants to develop new competencies to meet evolving professional demands. By synthesising relevant studies, this review contributes to the existing knowledge of Industry 4.0’s influence, offering insights into the expertise needed in the field and the potential challenges and opportunities smart technology introduces for accountants.

Keywords: Industry 4.0, Accounting Profession, Big Data, Cloud Computing, Accountant’s Skills, Artificial Intelligence

The BRICS countries refer to Brazil, Russia, India, China and South Africa. In this paper, they are selected as the important representatives of developing countries. Based on convergence theory, this paper confirms the following by econometric method: During the 1980-2019 period, measured by the steady state of the per-capita output, the relative positions of Brazil, Russia and South Africa in a test sample were generally always slightly below the average level of all sample countries; the relative position of India had a relatively slow rise, but it was always far below the overall level of Brazil, Russia and South Africa; China’s relative position was only slightly higher than India’s in the 1980s, but it kept rising rapidly since then, and caught up with the overall level of Brazil, Russia and South Africa in the 2010s. Therefore, in the 1980-2019 period, measured by the steady state of the per-capita output, among the BRICS countries, only China had a remarkable and sustained relative rise in the test sample, and its upward trend shows no obvious signs of weakening. Such a change in China has positive practical significance for all developing countries because China seems to be able to become a developed country soon. Finally, the paper puts forward some suggestions on government policy for the future growth of the steady states of the per-capita output of the above countries.

Keywords: Important developing countries; steady state of per-capita output; ?-convergence