Acta Universitatis Danubius. Œconomica

Product Development Strategy and Non-Financial Performance of Kenya’s Travel Agencies

Tracy Wangechi Maina — 2025-11-28

Objectives: This study analyzes the influence of product development strategy on the non-financial performance of travel agencies in Nairobi, Kenya. The travel sector significantly contributes to Kenya’s growth and development; however, it faces challenges in developing and adapting products to the market’s ever-evolving needs. Prior work: While several studies have been conducted on the tourism industry in Kenya, the researchers are aware of no explicit studies that assess travel firms registered with the Kenya Association of Travel Agencies. Approach: The researchers utilized a descriptive cross-sectional design to examine the influence of product development strategy on the non-financial performance of travel agencies in Nairobi, Kenya. The study was anchored on pragmatism to collect both qualitative and quantitative data from the respondents. Results: Product development strategy (Coeff = 0.66, p-value = .00) has a statistically significant influence on the non-financial performance of travel agencies. Implications: This research offers insights policymakers and tourism practitioners can use to formulate and execute strategies that foster the growth, development, and sustainability of travel agencies. Value: The study extends the strategic management literature by examining product development strategy through the lens of the resource-based view and the non-financial performance of travel agencies.

From Hidden Reserves to Transparent Prudence: IFRS 17, Profit Recognition, and Institutional Diffusion in the Insurance Sector. Evidence from Albania and European Benchmarks

Esmeralda Yryku — 2025-12-02

Objectives. We show how prudential profit deferral in life insurance is recast by IFRS 17 into explicit, auditable mechanics. For Albania, the standard is not yet applied; 2024 materials are interim or management and unaudited. Prior Work. We build on literatures on prudence versus transparency and institutional diffusion, and on early European note architecture. Approach. We combine process tracing of European and Albanian milestones with a structured 20-item disclosure rubric applied to six insurers (three in Albania; three European benchmarks), and compute three simple presence-only indices of disclosure breadth and IFRS 17-specific innovation, excluding not-applicable items and documenting page-level locators. Results. Audited 2023 European annual reports show CSM/RA roll-forwards, revenue bridges, and explicit discount-rate policies. Albanian 2024 artefacts show elements where presented; absence at interim is treated as not applicable. Implications. Before 2025, no compliance claims are made for Albania. Preparers should standardise templates, quantify the risk adjustment where material, and publish concise bridges to prudential views; supervisors can reinforce interim guidance. Value. We articulate “transparent prudence” and provide a reproducible small-market benchmarking template. Albania-specific caveat: evidence is unaudited, parallel-run, and limited to what is publicly presented; indices are presence only and may be affected by interim windows and not-applicable treatment.

The Impact of Emerging E-Commerce Platforms on Amazon’s Stock Price Performance

Nthabiseng Matsepe — 2025-12-02

Objective: This study analyzes how emerging e-commerce competitors—Temu, eBay, and Etsy—influenced Amazon’s stock returns and volatility between 2018 and 2024. Approach: Using covariance analysis and GARCH-type models, the findings reveal that Amazon’s returns were significantly affected by market shocks and competitive pressures, with clear evidence of volatility clustering and asymmetric effects. While eBay and Etsy moved largely in tandem with Amazon, Temu’s returns displayed an inverse relationship, suggesting its rapid market expansion occurred partly at Amazon’s expense. Results: These results support the study’s objective by demonstrating that rising competition from new entrants materially altered investor sentiment and short-term stock performance in the global e-commerce space. The study also contributes to the intersection of the Efficient Market Hypothesis (EMH) and Behavioral Finance. It shows that investor reactions to competitive developments were not always rational, with herding behaviour and sentiment-driven responses amplifying short-term volatility. Amazon’s heightened sensitivity to firm-specific shocks, relative to broader market trends, underscores its exposure to competitive and innovation-driven risks in a fast-evolving digital landscape. Value: From a practical standpoint, the research highlights the importance for investors to monitor behavioural signals and market narratives, which can influence valuation and risk beyond traditional fundamentals. For e-commerce firms, the results underscore the need for continuous innovation, strategic differentiation, and adaptive pricing to retain market share. While limited by a focused sample and geographic scope, this study lays groundwork for future research incorporating broader datasets, cross-country analysis, and sentiment indices to better understand the interplay of competition and investor psychology in digital markets.

The Impact of Diaspora Remittances on Economic Growth in Zimbabwe (2015–2024)

Charles Nyoka — 2025-12-02

Zimbabwe went through many economic phases since it attained independence in 1980. The country was starved of foreign currency inflows which provide capital for productive sectors to attain economic development. As her foreign currency earning capacity from exports had collapsed, she turned to the inflows from Zimbabweans in the diaspora for survival. This paper determines whether diaspora remittances had a positive effect on Zimbabwe’s economic growth from 2015–2024 using descriptive analysis, correlation analysis, and multiple linear regression analysis. The findings affirm that remittance inflows play a crucial role in supporting GDP growth. Descriptive statistics show significant macroeconomic volatility. Trend analysis confirms a divergence between volatile GDP growth and steady remittance inflows, highlighting the counter-cyclical role of remittances. Correlation analysis supports this, showing a strong positive link between remittances and GDP growth. Multiple regression analysis shows that log-transformed remittances significantly impact GDP growth. This emphasizes the substantial growth-promoting potential of remittances, likely via channels such as household consumption and investment. Overall, remittances are crucial for inclusive growth in Zimbabwe’s macroeconomic policy and hence future fiscal and monetary plans should incorporate this insight by promoting formal remittance channels, increasing diaspora engagement, and maintaining macroeconomic stability to maximize their developmental benefits.

Towards a Strategic Business Onomastic Model: Developing a Conceptual Framework for Small Enterprises in South Africa

Rejoice Sibanda — 2025-12-02

Objectives: This study examines the strategic role of business naming among small enterprises in South Africa, proposing the Strategic Business Onomastic Model (SBOM) to illustrate the relationship between naming typologies and entrepreneurial strategies., Prior Work: Although business naming is recognized as a key element in brand identity and market positioning, its strategic relevance in small enterprise development remains underexplored, particularly in the South African context. Existing literature has primarily focused on large firms, leaving a gap in understanding how naming practices influence strategy in smaller, resource-constrained environments. Approach: Guided by an interpretivist epistemology and employing a qualitative case study design, the research investigates naming practices across various sectors in Gauteng Province. The study draws on empirical data to explore how naming decisions reflect and influence strategic intent. Results: The findings reveal four dominant naming typologies—descriptive, arbitrary, religion-based, and founder-based—each associated with specific strategic orientations. These naming choices affect organizational flexibility, market positioning, and the articulation of long-term goals., Implications: Intentional naming is shown to be a strategic act that contributes to competitive advantage and business growth. By linking naming categories to appropriate strategic postures, the SBOM framework offers a contextualized guide for aligning business identity with entrepreneurial intent and Value: The SBOM model contributes to both theory and practice by offering a novel lens through which to understand naming as a strategic tool. It provides practical insights for entrepreneurs, small business incubators, and policymakers seeking to foster sustainable enterprise development.