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Vol.10 No.2
June 2022

 Page Number

 Article Information

76-100

Barriers to Effective Supply Chain Management Implementation in the Zimbabwean Public Sector: A Case Study of Public Procuring Entities in Harare, Zimbabwe

Denias Kagande, David Madzikanda, Maxwell Sandada, and Faustino Taderera

DOI: 10.15604/ejbm.2022.10.02.001

Abstract

This study investigated the barriers to effective supply chain management implementation in the context of Zimbabwean public sector. We aimed to identify strategic barriers affecting supply chain management implementation among public procuring entities in Harare and establish the technological barriers affecting supply chain management implementation among public procuring entities in Harare. It was also premised to uncover the organizational barriers affecting supply chain management and implementation amongst public companies in Harare. The study was a cross sectional survey of selected public procuring entities in Harare. These included the Ministry of Health, Ministry of Agriculture, Ministry of Transport, Ministry of Finance and Ministry of Economic Development. A total of 132 respondents took part in the study. The findings revealed that the government departments under study lacked supply chain management planning that is well synchronized with the respective ministries’ overall strategic planning. Inconsistencies were identified between the departments’ supply chain structure and information systems that had been implemented and it had become difficult to incorporate real-time information sharing into supply chain operations.

Keywords: Organizational Public Sector, Strategy, Supply Chain Management, Technology, Barrier

101-115

Efficiency of the Stock Markets after the 2008 Financial Crisis: Evidence from the Four Asian Dragons

Ka Po Kung

DOI: 10.15604/ejbm.2022.10.02.002

Abstract

The efficient market hypothesis (EMH) claims that in an efficient market where prices of securities fully reflect their intrinsic values, it is not possible to make excess returns with any investment tools or strategies. A natural question then to ask is: has the EMH claim become obsolete or irrelevant after the 2008 financial crisis? To address this issue, this study employs three popular technical trading rules to investigate, using the 10-year daily price data after the crisis, the efficiency of the stock markets of Hong Kong, Korea, Singapore, and Taiwan — jointly known as the four Asian dragons. Our rationale for using these rules is that if they are effective in exploiting profit opportunities, then these markets are not efficient. Our results show that, with a few minor exceptions in Hong Kong and Singapore, none of the three rules performs better than a buy-and-hold strategy. Given these results, we conclude that the EMH claim is still alive and well in these four stock markets. In practice, many corporations operating in the four Asian Dragons typically turn to banks for financing. Hence, an important implication of this study is that, given the efficiency of the four markets, these corporations should instead step up the use of the stock markets to raise the needed funds, which is more likely to lower their cost of financing.

Keywords: Efficient Market Hypothesis, Technical Rules, Efficiency, Four Asian Dragons, Buy-and-Hold Strategy

116-136

A Comparative Analysis of Implementation of Lean Accounting in Manufacturing and Healthcare Sectors

Nyanine Chuele Fonou-Dombeu and Bomi Cyril Nomlala 

DOI: 10.15604/ejbm.2022.10.02.003

Abstract 

Lean accounting is an emerging strategy that is being used by enterprises to achieve their business objectives. Several studies are reporting the implementation of lean accounting in manufacturing and healthcare sectors. However, no study has been conducted to compare lean accounting implementation in both sectors. This research reviews, analyzes and compares lean accounting implementation in manufacturing and healthcare sectors. A qualitative approach based on literature review and content analysis is used. Data is collected from secondary sources including journal articles and publications on practical case studies of lean implementation in both manufacturing and healthcare sectors. The analysis of the data reveals that three tools are commonly used for lean accounting implementation in both sectors, namely, Value Stream Mapping, Kaizen and Lean Six Sigma. It is also found that top manager commitment, flexible organizational culture, proper planning, and training are common requirements for the success of lean accounting implementation in manufacturing and healthcare. With regard to the challenges in implementing lean accounting in both sectors, the study discovers the existence of two common barriers including the shortage of people with knowledge of lean accounting principles and the lack of step-by-step guidelines on how to implement these principles. Finally, the study reveals that the outcomes of lean accounting implementation in both sectors are customers’ satisfaction, cost reduction, and flexible communication amongst the staffs within the organization. The study is a contribution to knowledge in that it investigates and highlights the lean adoption practices specific to each of the manufacturing and healthcare sectors, as well as the commonalities of lean practices in both sectors.

Keywords: Lean Accounting, Manufacturing Sector, Healthcare Sector, Lean Tools

137-152

The Arm’s Length Principle: A Panacea or Problem to Regulating Transfer Pricing Transactions by MNEs in Developing Countries

Favourate Y. Mpofu and Eukeria Wealth

DOI: 10.15604/ejbm.2022.10.02.004

Abstract

Transfer pricing manipulation by multinational enterprises is a big problem in developing countries, considering the increased levels of tax avoidance and evasion in these countries. The revenue lost through evasion and avoidance schemes as well as through aggressive tax planning robs developing countries of the much-needed domestic revenues to fund public expenditure. The repercussions of revenue inadequacies are evident in developing countries’ governments to adequately invest in education, tax administration, health and security, infrastructural development, and economic development. Most developing countries having enacted transfer pricing regulation, with the arm’s length principle are at the core of these regulations. This principle has been criticized in literature for its inefficiency and ineffectiveness in regulating transfer pricing in evolving economic times, while some researchers continue to maintain its relevance. In view of the conflicting views on the cogency of the arm’s length principle in developing countries, this paper sought to unpack this debate through an evaluative review to show the areas of disagreement and agreement among scholars. The review was motivated by the continued concern and discussions of tax evasion and avoidance by multinational enterprises through aggressive transfer pricing in developing countries. Through a critical literature review, this article assesses the applicability and relevance of the principle in developing countries. Findings reveal controversies in the availability of comparable data, continued abuse of transfer pricing as well as the difficulty in applying the principle in digital transactions and intangibles.

Keywords: Arm’s Length Principle, Transfer Pricing, MNEs, Legislation, Tax Avoidance, Taxation

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