Binary University of Management & Entrepreneurship

Purpose: The study explores the effect of monetary and fiscal policies on stock price movements in the primary capital market of Zambia, Lusaka Securities Exchange (LuSE), focusing on how interest rates, inflation, government expenditures, and taxation decisions influence the behavior of investors and stock valuation in a developing market that suffers from economic volatility and limited market depth. Methodology: To achieve this, the study embraced a mixed methodology of time-series quantitative analysis of macroeconomic and market data captured between 2010 and 2024, coupled with qualitative insights from semi-structured interviews. Ten participants, including financial analysts, stockbrokers, central bank officials, and economists were purposively selected for their respective expertise and direct engagement in Zambia's financial system. Quantitative data for analysis were obtained from the Bank of Zambia, the Ministry of Finance, and LuSE to determine long-term relationships between policy variables and market performance. Thematic analysis of the transcripts illuminated investor perceptions concerning policy communication and transparency, as well as issues affecting confidence. Findings: The findings confirm the typical trend that an aggressive monetary policy, leading to an increase in interest rates, generally causes a fall in stock prices as it discourages investments and raises the price of borrowing. The same holds true for inflationary and expansive fiscal policies, especially if those policies are not accompanied by commensurate revenue generation. These factors generate uncertainties in the market and lower investor confidence. Participants held the view that abrupt policy changes coupled with poor communication and unpredictability act as catalysts that injure trust and result in reactive selling. It was concluded from this study that the coordination of economic policy and its transparency is a prerequisite for the maintenance of market stability and for bolstering investor confidence. Unique Contribution to Theory, Practice and Policy: The study added a unique contribution in emphasizing the need for improvement of communication mechanisms between policy makers and market players, along with improving forecasting mechanisms of policy and upgrading the education of the wider community concerning the effects of macroeconomic policy on capital markets. Without those, the development of an inclusive and resilient financial environment in Zambia will be hampered.

Purpose: In an increasingly competitive and changing world economy, organizational capacity to achieve and maintain competitive advantage is inextricably linked with the caliber of strategic leadership. This study examined the application of strategic leadership in realizing and maintaining a competitive advantage in the business environment of Zambia, based on two Lusaka-headquartered companies as case studies. The primary objective was to analyze leadership practices in selected firms and determine their role towards performance, innovation, and differentiation against a negative economic backdrop. Methodology: The study employed a qualitative multiple-case study design to offer rich explications of practical leadership practices. Two private firms were purposively selected: Firm A, manufacturing, and Firm B, services. The firms were chosen based on their market presence and strategic interest. Data were collected through intensive semi-structured interviews with 12 participants- six from each firm-including senior leaders and mid-level managers who were directly involved in strategic planning and implementation. Secondary data obtained from internal business documents, strategic plans, and performance appraisals were also utilized for finding triangulation and contextual enrichment. Data was analysed thematically. Findings: Thematic analysis of the findings revealed that there is a need for strategic leadership to achieve differentiation through vision-connected alignment, responsive planning, and continuous organizational learning. It was also noted that there were weak systems for leadership growth, regulatory uncertainty, and market volatility. These factors impede the optimal utilization of leadership potential and strategic outcomes. The study ends by making a suggestion to develop leadership capacity, implementation of flexible strategy models, and enhanced linkage between leadership vision and operational activities. These actions are required by companies eager to navigate their path through the intricate business environment of Zambia and sustaining long-term competitive advantage.

This study investigates the determinants of macroeconomic stability and sustainable growth in Pakistan using an Autoregressive Distributed Lag (ARDL) bounds testing approach. Drawing on annual data spanning 1970 to 2023, the analysis explores the dynamic interactions among GDP growth, money supply, fuel imports, foreign direct investment, oil prices, and inflation. The ARDL bounds test confirms a long-run cointegrating relationship among these macroeconomic variables, indicating that they move together over time. Long-run estimates suggest that increases in money supply and fuel imports are associated with higher GDP growth. At the same time, elevated inflation and foreign direct investment significantly negatively impact economic performance. Foreign direct investment shows strong positive effects in the short term. However, inflation and lag-fueled imports have more complicated impacts on GDP growth, which are reflected as delayed negative influences. Diagnostic tests for autocorrelation and heteroskedasticity support the model's accuracy, and the mistake correction mechanism points to a rapid adjustment process with deviations from the long-run equilibrium being corrected at an annual rate surpassing 130%. These findings emphasize the need for stabilizing inflation, ideal foreign investment policies, and different energy sources to produce resilient macroeconomic stability and sustainable economic growth in Pakistan.

With the rapid development of information technology, digital transformation has become an important strategy for enterprises to enhance competitiveness and optimise resource allocation. Although studies have pointed out that digital transformation may affect firm performance through innovation capability and supply chain efficiency, its underlying mechanism is still controversial. Based on the panel data of Chinese A-share listed companies from 2010 to 2022, this study systematically examines the mechanism of digital transformation on firm performance using OLS regression model and mediated effect analysis. The study finds that: (1) the direct effect of digital transformation on firm performance is not significant, suggesting that there may be high investment and organisational adaptation costs in the early stage of transformation; (2) innovation capability fails to play a mediating role, which may be related to the lack of innovation culture and management mode change in some firms;

In line with the development of globalization, English is increasingly in demand, especially among students. This is because English is a fundamental competency with an international scope. In order to improve their skills, students need more time to study, and since the onset of Covid-19, online learning through WhatsApp has become a trend. This application allows teaching and learning to not only become easier but also encourages greater participation from students, helping them achieve their learning goals. This study found that students have a positive perception of using WhatsApp groups for ESP discussion learning. This research contributes valuable empirical evidence, providing continuous support for the collaboration of ESP courses via WhatsApp. However, this study has limitations, including a small sample size and general findings, indicating the need for further research to explore its long-term impact and the more specific implementation of technology-based learning.

Mobile phones in modern times are a ‘must have’ item in keeping up with the latest happenings. Internal and external influences can however impact consumers’ intention to purchase a mobile phone. This paper aims to investigate the impact of word of mouth (WOM) towards older consumers’ purchase intention for mobile phones. Literature indicated that older consumers are vulnerable to this sort of influence especially when they deemed the content of advertising messages originated from a credible source. Furthermore, emotional appeal messages are influential in the behavioural purchase intention of the older population compared to the younger population due to the limited time perceived by older consumers and their decreased cognitive abilities. Primary data in this study is collected by a self-administered questionnaire involving 180 respondents selected through the simple random sampling approach. The sample population was all pre-determined to be aged above 50 years old. Analyses of data collection were done using SPSS to test the proposed hypotheses. Findings from this study aid marketer with their marketing campaigns for mobile phones with an enhanced understanding of the older consumer segment which possesses higher disposable income and purchasing power.

During the COVID-19 pandemic disaster, the food industry must deal with four significant challenges that arise in the logistics and supply chain for food.During this outbreak, the most difficult difficulty for businesses is acquiring funds to develop internal capacity and supply enough supplies to society.In times of crisis, social communication is critical.When the food supply system in Canada was disrupted by the COVID-19 epidemic, short-term panic buying became self-perpetuating.Automotive, pharmaceutical, food, healthcare, and aerospace are the top five industries most likely to be affected by changes in manufacturing facility location.Automotive, pharmaceutical, food, healthcare, and aerospace are the top five industries most likely to be affected by changes in the location of manufacturing facilities, suppliers, and distribution facilities.These five industries are crucial to the economy and account for the majority of the country's manufacturing.During the COVID-19 pandemic disaster, the food industry must deal with four significant challenges that arise in the logistics and supply chain for food.The COVID-19 pandemic prompted consumer stockpiling, resulting in product shortages at major stores across the country and an increase in home delivery.During this outbreak, the most difficult difficulty for businesses is acquiring funds to develop internal capacity and supply enough supplies to society.The efficiency-seeking benefits of locating production are linked to forecasts of increased costs from new import and export taxes, as well as border delays induced by new customs clearance processes.

The COVID-19 pandemic has highlighted the critical role of the pharmaceutical industry in global health and the economy.However, the industry faces various challenges, including financial difficulties and waste management issues.The cost of services and drug prices pose significant financial challenges that need to be addressed.Public health systems allocate specific budgets for pharmaceutical expenses to control costs.Additionally, issues such as intellectual property, sector fragmentation, and pricing control hinder progress in the industry, despite advancements in infrastructure and research and development capabilities.Developing countries particularly struggle with inadequate investment in research and development, emphasising the need for strengthening the pharmaceutical sector in these regions.Inventory management, new product development, process development, and lean manufacturing are major concerns within the pharmaceutical industry.It is crucial to improve supply chain efficiency, as pharmaceutical wholesalers heavily rely on drug manufacturers while facing fierce competition from retailers.By implementing effective health system workflows, better management of relationships with healthcare beneficiaries, quality monitoring, and information generation can be achieved.Trust and personal connections play significant roles in supplier-customer relations within the healthcare sector, alongside compliance with government regulations.This work also contributes by identifying and prioritising pharmaceutical supply chain risks.Industrial managers can implement proactive policies to minimise these risks, ensuring an efficient pharmaceutical supply chain.Recommendations are provided to assist managers in reducing the occurrence of risks and enhancing overall supply chain performance.

Digital economy is being closely integrated with agricultural development and tapping into its unique potential to alleviate agriculture’s carbon emissions To explore the mechanism of how digital economy reduce the agricultural carbon emissions, this paper constructs a systematic evaluation method with extend STIRPAT model and panel data drawn from 29 provinces (or municipalities and autonomous regions) in the Chinese mainland from 2013–2020. The results show that the development of the rural digital economy has a significant negative influence on agricultural CEs, and this result is still valid given robustness tests. Second, the alleviation of CEs based on the rural digital economy is more significant in the higher technological investment zones than that in the lower technological investment zones, and the central and eastern regions also have more significant CEs reduction effect. Third, the influence mechanism analysis shows that agricultural green technology change is an effective means to promote the rural digital economy’s CEs reduction effect. This paper not only provide new empirical evidence for understanding nexus between digital economy and agricultural carbon reduction, but also give constructive policy implication to improve agricultural green development.