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Southern University and A&M College
College of Business E-Journal

Current Issue


Fall 2017 Volume XII, Issue III

I. Indigenous Peoples’ and Other Stakeholder Reaction to an Unacceptable    Proposed Corporate Investment: The Northern Gateway Oil Pipeline Project




The economic consequences of a First Nations response to Enbridge and the voicing of concerns over the violation of human rights resulting from the proposed Northern Gateway pipeline are examined. Despite overwhelming opposition and contrary to indigenous rights, the proposed pipeline was to cross more than 50 territories claimed by First Nations. The pipeline would transverse through unique ecosystems that are home to endangered species, and tankers would travel through one of the largest undeveloped temperate rainforests in the world. Given Enbridge’s history with oil spills and environmental violations, potential future oil spills are a serious concern. Because of these concerns, stakeholders have engaged in historical displays of activism. This study examines the unprecedented termination of this project given pressure from Enbridge’s stakeholders and, in particular, the Indigenous peoples involved. The economic consequences of stakeholder activism events during a seven-year period are analyzed for abnormal stock returns (AAR) around announcement dates using the Fama and French (1993) three-factor model. The results indicate that the market reacts negatively to human rights violation risk and environmental risk. The study provides evidence that the market factors these risks into its investment decisions, providing the impetus for accounting standard setters to mandate human rights violation and environmental risk disclosures. Furthermore, this study contributes to the evolving and emerging global business norms, regulatory requirements, and worldwide accounting reporting standards in terms of disclosing and accounting for indigenous rights violations and environmental risk.



Thomas O. Meyer, Ph.D.*
Southeastern Louisiana University, Hammond, LA 


Wendy Brooks
Brock University, St. Catharines, Ontario


Jingyu Li, Ph.D.
Brock University, St. Catharines, Ontario


Fayez A. Elayan, Ph.D.
Brock University, St. Catharines, Ontario


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II. Career and Technical Education and the Implications of False Equity



Public policy is the engine that fuels and continues to refuel our democracy, even though contention between ideological perspectives persists.  However, very few individuals, if any, can argue that the nation and even the global network is governed by public policy; therefore, government intervention in certain instances is warranted. Public policy is set in place to be the great equalizer and balances the playing field for individuals and their families to ensure all have equal opportunities and access to the American dream of life liberty and the pursuit of happiness.  When income disparities and inequities continue to manifest itself with historically marginalized groups of people, government can set policies such as minimum wage laws, affirmative action, and equal pay for women, to close those gaps and minimize disparities, and ultimately leveling the playing field.  When Fortune 500 companies continue to grow exponentially in revenue and in market share, destroying competition and creating monopolies, government can intervene and implement policies of fair competition and economic policies such as Sherman Anti-trust laws to prohibit companies from controlling an entire market or being the sole provider of a product or service.  When indigent families and the elderly are denied access to quality healthcare simply because they don’t make enough money to afford the premiums offered through employer benefits or due to unemployment, government can intervene and implement policies such as Medicaid and Medicare, to ensure even the elderly and people from a low socioeconomic status still have access to quality healthcare.  Public policy is made to benefit the greater good and purposed to serve as many people as possible while also suppressing any sign of negative externalities.



Dr. Ronald Rodgers


Dr. Albert D. Clark
Southern University – College of Business
Baton Rouge, LA


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III. Guess who is not Using Mobile Money in Sub-Saharan Africa?



Mobile money, which is a mobile-phone-based service, sends and/or receives money across a wide geographical area with just a touch of a mobile-phone button.  This particular financial product was initially introduced in Kenya in the early part of 2007.  Within the first six months of its introduction in Kenya, more than two million people enrolled for the service, partly because the utility emerged as a handy tool for urban migrants to send money back home to their families who resided in villages.  This overwhelming response to the service was mainly because of its convenience, safety, and speed.  Now, in Sub-Saharan African region, this particular utility is widely used even by businesses for a variety of financial transactions, e.g., paying money to creditors and receiving money from suppliers, paying utility bills, and paying salaries of employees.  This research examines whether female-owned firms use mobile money for financial transactions of their businesses.  The paper uses World Bank’s Enterprise Survey Program Data Set from 2013 and 2016 to investigate this question for small and medium-sized businesses because it is the only data set known to have a set of questions on the adoption of mobile money by businesses in the region.  The results indicate that female-owned firms are less likely to use mobile money than their male counterparts.  These results are potentially of great significance because more than a third of small and medium-sized businesses in the region are owned by females, making them an important element of the economy in the region.



Aparna Gosavi
Assistant Professor of Finance
Faculty of Business
Winston-Salem State University
University of North Carolina System
Winston-Salem, NC 27110




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