Archives of Business Research <p><strong>Archives of Business Research </strong><strong>(ISSN 2054-7404)</strong> is an international, double-blind peer-reviewed, open-access journal published by the Services for Science and Education, United Kingdom. This journal is published online <strong>monthly</strong> to keep readers up to date with the latest developments.</p> <p>The <strong>Archives of Business Research (ABR)</strong> applies theory developed from <strong>business research</strong> to actual <strong>business</strong> situations. Recognizing the intricate relationships between the many areas of <strong>business activity</strong>, <em>ABR</em> examines a wide variety of business <strong>decisions</strong>, <strong>processes</strong> and <strong>activities</strong> within the actual business setting.</p> <p>Theoretical and empirical advances in buyer behaviour, finance, organizational theory and behaviour, marketing, risk and insurance and international business are evaluated on a regular basis. Published for executives, researchers and scholars alike, the Journal aids the application of empirical research to practical situations and theoretical findings to the reality of the business world.</p> <p>The scopes of the journal include, but are not limited to, the following topics: business, marketing, management, finance, economics, accounting. It provides an academic platform for professionals and researchers to contribute innovative work in the field.</p> ScholarPublishing on behalf of Services for Science and Education, United Kingdom en-US Archives of Business Research 2054-7404 How do Adult Protective Statutes Relate to Older Americans Seeking Insurance Advice? <p>In the United States, no two states are completely alike in how they govern their citizenry or regulate commerce within their borders. These differences may be used to examine the effects of various laws by contrasting the differences in the way each state attempts to resolve a perceived problem and the resulting outcome. The following paper examines the relationship between consumer behavior and statutory solutions enacted to combat the problems of elder abuse, specifically financial exploitation. The statutory solutions are Adult Protective (AP) statutes. This paper focuses on AP statutes and their relationship to insurance advice seeking by older Americans. This paper finds that in under some circumstances insurance advice seeking behavior is related to the ways in which a state chooses to protect its elderly citizens from unscrupulous acts of persons or businesses. This article may serve as an opportunity for ethical professionals in financial services to understand how greater levels of regulation can result in opportunities for growth.</p> Benjamin Steele Campbell Charlene Kalenkoski Mitzi Lauderdale Copyright (c) 2023 Benjamin Steele Campbell, Charlene Kalenkoski, Mitzi Lauderdale 2023-05-06 2023-05-06 11 5 1 20 10.14738/abr.115.14569 Factors Affecting the Cost Savings Rate of University Procurement <p>The procurement function is an essential part of a university’s operations, as it provides the necessary goods and services for academic and administrative activities.This paper explores the impact of different demand channels on cost savings rate in university procurement. Through surveying and analyzing the demand channels used in university procurement, this study finds that the use of multiple demand channels can improve procurement efficiency and performance, and help reduce procurement costs. Moreover, the quality of communication and information sharing between universities and suppliers, as well as the level of competition among suppliers for procurement contracts, affect the cost savings rate. The findings of this study will also provide important implications for university procurement practices, by helping universities make more informed decisions regarding the selection of procurement demand channels. Ultimately, the goal is to improve the efficiency and effectiveness of university procurement practices, which can lead to cost savings, improved procurement outcomes, and increased value for money.</p> Yi-Zi Ning Copyright (c) 2023 Yi-Zi Ning 2023-05-09 2023-05-09 11 5 21 27 10.14738/abr.115.14540 Carving Economic Fortunes out of the Covid-19 Pandemic: The case of Entrepreneurialism in UK <p>This article examines the interaction between the Covid-19 pandemic (pandemic) and entrepreneurship in the United Kingdom (UK). It contends that although the pandemic has obliterated several businesses and their concomitant partners throughout the world, particularly the UK, a new swathe of entrepreneurial activities have evolved to spur socio-economic ventures in stabilising the frontiers of society. The article also synthesises the dimensions critical for successful creation of entrepreneurship by exploring the effects of the pandemic, leadership, including the financial sector as key constituents in revving new ventures. Whilst weak institutions often induced corrupt practices to stifle enterprising initiatives, the article further argues that good leadership reposes confidence in a beleaguered society by motivating people to carve for themselves and community, economic fortunes stemming out of the crisis and destructions. Lastly, the article concludes that whilst there is a complimentary relationship between a country’s endowment and the rate of entrepreneurships springing up in the UK, the converse is the case in most developing countries in the south.</p> Felix Nana Kofi Ofori Kenneth Appiah Ammar Gibson Copyright (c) 2023 Felix Nana Kofi Ofori, Kenneth Appiah, Ammar Gibson 2023-05-09 2023-05-09 11 5 28 40 10.14738/abr.115.14610 Examining the Diversity of Corporate America and the Federal Government: A Comparison of Selected Sectors <p>Managing diversity has become a fundamental priority of leading U.S. firms. Management of modern businesses must address the issue of employee diversity. Concomitantly, managing rising diversity demands greater consideration in governmental, corporate, and nonprofit enterprises. The researchers explore the effects of diversity and diversity management on employee views of organizational performance in U.S. federal agencies by establishing measures of three variables: diversity, workplace diversity, and perceived performance of the organization. Despite the fact that the motivations and practices of diverse companies are similar to those described in the best-practices industry, following these guidelines may not guarantee that a company will reach a high degree of diversity. A firm's level of diversity may be influenced as much by contextual factors like its industry affiliation and company size as by strategic factors. However, racial diversity does correlate favorably with organizational performance when tempered by diversity practices and group performance. Diverse perspectives on gender and age and the connections between these factors and other environmental factors lead to inconsistencies.</p> Duvalier Malone Copyright (c) 2023 Duvalier Malone 2023-05-13 2023-05-13 11 5 41 53 10.14738/abr.115.14623 A Teaching Note on Unconscionable and Adhesive Contracts <p>In this article, the authors, professors of legal studies, joined by a colleague from the discipline of marketing, write about the topic of unconscionability as it relates to the common law doctrines of “freedom of contract,” <em>caveat emptor</em>, and contracts of adhesion. Unconscionability can be a “threshold” discussion, or it can be considered at another point in a business law or legal environment of business course under the topic of “genuineness of assent.”</p> Richard J. Hunter John H. Shannon Henry J. Amoroso Hector R. Lozada Copyright (c) 2023 Richard J. Hunter, John H. Shannon, Henry J. Amoroso, Hector R. Lozada 2023-05-21 2023-05-21 11 5 54 71 10.14738/abr.115.14685 Why Not Just Backtest? <p>Backtesting involves applying an investment strategy or predictive model to historical data in order to assess its performance.&nbsp; Here, we apply general statistical principles to the question of whether, when and why backtesting is likely to be successful.&nbsp; Our use case is the JP Morgan Equity Income Fund (JEPI), an exchange-traded fund whose investment strategy is advertised to be supported by artificial intelligence, including backtesting. One problem with backtesting stock returns is that suitable external datasets to use in assessing model performance are difficult to identify.&nbsp; Another problem is that the modeling process can lack a clear separation between the training and test samples.&nbsp; Neither of these sources of bias are fixed by using big data analytics.&nbsp; An implication of these difficulties is that the performance of AI-derived predictive models is likely to be overestimated, even in the presence of backtesting.&nbsp; Moreover, backtesting will not fully assess how well a predictive model generalizes to other circumstances.&nbsp; The results of backtesting should not be taken at face value.&nbsp; Modelers are encouraged to explicitly describe what is being assumed for an investment strategy to continue to perform.&nbsp;&nbsp;&nbsp;&nbsp;</p> Greg Samsa Copyright (c) 2023 Greg Samsa 2023-05-21 2023-05-21 11 5 72 79 10.14738/abr.115.14677 The Origins of Indonesian Democracy and Its Implications in Indonesian Politics <p class="SSEAbstract">The practice of democracy and political life cannot be separated from the roots or origins that was formed the basis, including in Indonesia. This article aims to examine and seek explanations regarding the roots of democracy in Indonesia. This analysis begins with a historical perspective. There are many questions about Indonesian history that need to be answered in order to understand the problems and practices of democracy in Indonesia. Has Indonesia historically had experience in practicing democracy before its independence? What are the historical reasons for the absence of democracy in contemporary Indonesia? Are there democratic values in Indonesian history that can be used as a basis for upholding contemporary democracy? The results of the analysis show that there is still debate among Indonesian experts, some state that Indonesia has no roots in democracy, while other experts state the opposite that the roots and practices of democracy in Indonesia have existed for a long time and are practiced in people's daily lives. Indonesia.</p> Iing Nurdin Nur Hidayat Sardini Jusmalia Oktaviani Copyright (c) 2023 Iing Nurdin, Nur Hidayat Sardini, Jusmalia Oktaviani 2023-05-21 2023-05-21 11 5 80 98 10.14738/abr.115.14703 Tracing the Remains of the Dutch Colonialism Period and Its Influence on Heritage Tourism Resources in Bandung City, Indonesia <p>Relics of the past are the main attractions of heritage tourism, these past relics are not spared from the legacy of colonialism because of the implications that are still visible today. Such as in Bandung, where remnants of the colonialism period are still visible in urban elements that have been sustainable to this day. Therefore, this study aims to examine the legacy of Dutch colonialism in Bandung City and its influence on heritage tourism resources in Bandung in a descriptive qualitative manner through data collected through literature study. The results of this study indicate that the existence of colonialist values left behind in Bandung City has a major influence on the elements of tourism resources in Bandung City from the five dimensions, namely historical buildings and monuments; historical event sites; cultural sites and/or natural landscapes; language, literature, and music; and traditional Lifestyle.</p> Fajar Aditya Nugroho Dhyana Hanifianti Handizar Alhilal Furqan Copyright (c) 2023 Fajar Aditya Nugroho, Dhyana Hanifianti Handizar, Alhilal Furqan 2023-05-27 2023-05-27 11 5 99 109 10.14738/abr.115.14704 An Assessment of The Effect of Training Practices on Staff Performance: A Case of The University of The Gambia <p>The purpose of this paper is to assess the effect of training practices on the performance of the staffs of the University of the Gambia (UTG). A stratified sampling technique was used together with various other methods, including a mixed research approach, using both quantitative and qualitative research to assess the effect of training on staff performance. Primary data was collected from the UTG Human Resources Department and from the academic and administrative members of staff selected from all the Schools of the University, using semi-structured interviews and questionnaires. The quantitative data was gathered using the 5-point Likert scale items, and this was analyzed using Excel. The results of the study were presented together with its interpretation, using tables, pie charts and bar graphs. The findings of the study indicated that on-the job training is widely practised in the University of the Gambia. However, the process of staff training was found to be unplanned and unsystematic. It was further gathered that there is a lack of commitment from the senior management team regarding staff training. Overall, the findings of the study revealed that the training provided in University of the Gambia has not helped them realize any significant improvement in their work performance. These findings are contrary to the general consensus in the literature, which contend that training in fact does help improve staff performance. Nevertheless, taking these findings of the study into consideration, it is recommended that the University of the Gambia need to endeavor to set aside funds solely dedicated for training staffs on a continuous basis. The key recommendation will be to revise its current staff training and development policy to make training more effective.</p> Fatoumata Zahra Jobe Matarr Njie Copyright (c) 2023 Fatoumata Binta Zahra Jobe, Matarr Njie 2023-05-27 2023-05-27 11 5 110 143 10.14738/abr.115.14614 Influence of Innovation Climate on Attraction and Retention of Human Capital Among Small and Medium Enterprises in Kenya <p>Small and Medium Enterprises (SMEs) globally are currently operating in dynamic and uncertain business environments, making it necessary to attract and retain valuable human capital that can give them a competitive edge over peers. Most of these enterprises lack resource advantages and suffer from liabilities of size and newness, resulting in a big challenge in their attempts to compete favorably with large established firms. The ability of an enterprise to create and sustain a healthy and supportive innovation climate is consequential to its ability in attracting and retaining valuable human capital. This research aimed to ascertain the influence of innovation climate on attracting and retaining human capital among SMEs in Kenya. The top 100 SMEs for the year 2019 formed the study sample. A response rate of 59% was achieved. The study utilized structured questionnaires to collect data from founders of enterprises, and in their absence, the top management team was engaged. The data analysis methods used included SPSS and partial least squares structural equation modeling (PLS-SEM). This yielded results which established that various dimensions of innovation climate, including organizational support for innovation, organization structure, teamwork, leadership behaviour, and manager's approval, have a significant and positive influence on the attraction and retention of human capital among SMEs in Kenya. From these findings, it is recommended that founders and top management teams of SMEs should put in place a supportive and healthy innovation climate where human capital holders feel comfortable working and growing their careers in the long run. Such measures are instrumental in the attraction and retention of valuable human capital.</p> Mbadi Olila Jackson Maalu Florence Muindi Copyright (c) 2023 Mbadi Olila, Jackson Maalu, Florence Muindi 2023-05-27 2023-05-27 11 5 144 162 10.14738/abr.115.13713