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Volume 3 - Issue 2, February (2025)

All Articles
Original Article2082 downloads
STRATEGIC ANALYSIS OF GEREGU POWER PLC.
DOI: https://doi.org/10.5281/zenodo.14824159
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Geregu Power Plc through strategic thinking, planning and careful execution has birthed an enviable enterprise delivering excellent value and financial performance to its stakeholders in the last few years. The board leadership together with the management team have recorded phenomenal growth in shareholder value, stock appreciation and excellent market performance in the capital market as recent as 2024 Q1. The company anchors its value creation by competing to be unique in the industry. Geregu Power through the leadership of Mr. Femi Otedola has made a bold step by pivoting and tapping the Nigerian Stock exchange in 2022 being the first power generating company to be listed in the Nigerian Stock Exchange. This move has unlocked the much-needed patient capital to enable the company deliver on its near term, short term and long-term goals and aspirations. This super performance was made possible through the efficient use of resources and operational effectiveness in delivering value to the market. The management team understand the operating environment as well as the competitive landscape. This explains why they have been able to join the elite club of stocks with over one trillion (SWOT) market capitalization. In Q1 2024, Geregu grew by 151% leading the top five performers in the first quarter of 2024. The company has ambitious plans of creating a niche for itself in the power sector by adding an additional 1,300 MW to its existing 414 MW which would earn it’s the biggest power company in Nigeria upon completion of the capacity expansion plans. Egbin Power Plc with 1,100MW would be a distant second with Geregu Plc cementing its leadership position in the sector. There are a number of catalysts which is supportive for investment in the sector. Some of these are electricity act of June 2023, decentralization of electricity supply to the state, introduction of renewables into the Nigeria energy mix and strong commercial momentum in the sector.
Original Article348 downloads
Dilemma of Accounting Treatment and Regulation of Foreign Worker
DOI: https://doi.org/10.5281/zenodo.14829750
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This study aims to analyze the accounting treatment for foreign workers working in the company, as well as the company's compliance with regulations (Government Regulation Number 34 of 2021) concerning foreign workers working in the company. The study was conducted at PT X engaged in construction services located in Gresik District, Gresik Regency. The object of the study was Foreign Workers at PT X consisting of 7 Foreign Workers. Data collection techniques used interviews, observations and documentation. Data sources are primary data and secondary data. Primary data was obtained by collecting information about the use of foreign workers while secondary data was in the form of report data on foreign workers. The results of the study indicate that PT X has an accounting policy and carries out simple financial accounting records and financial reporting related to foreign workers in accordance with applicable regulations. PT X also complies with all provisions regarding the use of foreign workers in accordance with Government Regulation of the Republic of Indonesia Number 34 of 2021 concerning the Use of Foreign Workers.
Original Article344 downloads
FINANCIAL INCLUSION AS TWIG OF INTERNALLY GENERATED REVENUE FROM ENTREPRENEURIAL VENTURE: A UNIVERSITY FUNDING ALTERNATE
DOI: https://doi.org/10.5281/zenodo.14951513
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The economic crisis, which resulted in university funding cuts with an astronomically devastating impact on teaching and research around the world. Sequel to this, Nigerian universities are in disarray due to insufficient government funding and are under pressure to discover new financial streams of Internally Generated Revenue to disentangle finance-related teething problems and most tangible means of outsourcing finance inclusively for the creation of more entrepreneurial ventures through the possibilities of prudent IGR management. The effective management of internally generated revenue to outsource finance for the establishment of entrepreneurial ventures serves as a subtle approach to resolving this noticeable cog that is still unknown or underestimated. As a result, it is critical to investigate and evaluate financial inclusion through prudently managed IGR to achieve greater financial inclusion for more long- term entrepreneurial ventures. Justifying the need to look inward and devise mechanisms for strong instruments internal fund raising and managing cash inflows to benefit university entrepreneurial ventures to increase the University's internally generated revenue for the benefit of the university and its stakeholders. The paper concludes that University Managers must fully accept the use of genuine means of boosting IGR through financial inclusion of in-house funds to aggressively established IGR boosting and the creation of entrepreneurial ventures that could serve as an alternative to inadequate government funding.
Original Article542 downloads
THE ECONOMIC CONDITION OF INDIA BEFORE THE BRITISH RULE (BEFORE 1757 CE): AN EMPIRICAL STUDY
DOI: https://doi.org/10.5281/zenodo.15075192
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The Mughals were in charge of bringing the nation together, establishing a standardised currency, and constructing a vast road network. Shashi Tharoor makes the brutally straight forward argument that Europeans colonised India for their own gain, using its riches and resources to enrich the colonisers rather than to better the lot of the Indian people. Given that proponents of empire frequently employed terms like "benefit" and "welfare," Tharoor shifts her focus to the specifics of colonialism's economics. Objective: The research has attempted to investigate India's economic situation before the arrival of the British. Methodology: The study has utilized both qualitative and quantitative approaches on the basis of secondary sources. Result and Discussion: The Mughal economy was built on a complex network of coined currency, land revenue and trade. Royal mints produced gold, silver and copper coins provided that free coinage was established. The centralised administration, the political stability and the uniform revenue policy evolved by the Mughals, and the presence of a well-structured internal trade network allowed India to be economically united even before a single British ship arrived; economically united was India to a large extent, though it was a nation with a traditional agrarian economy, a subsistence agriculture economy. Findings: There were rich agricultural economy, developed trade and commerce, enhanced handicraft & textile Sector and well functioned markets & temples. Conclusion: India is said to have been the biggest economy in the ancient and mediaeval world between the first and seventeenth centuries CE, accounting for between one-third and one-fourth of global wealth.
Original Article195 downloads
Unveiling the Impact of Student Characteristics Influencing Computer Science Performance in Open Distance Learning
DOI: https://doi.org/10.5281/zenodo.15545194
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This study examined how student characteristics and secondary education backgrounds influence the academic performance of first-year Bachelor of Science students in Computer Science at the Kandy Regional Centre of the Open University of Sri Lanka (OUSL). Using a deductive approach, a random sample of 110 students was selected from a population of 183, and data was collected through a self-administered questionnaire. The findings indicated no significant difference in performance in Level 3 Computer Science courses between male and female students. Similarly, there was no significant difference in grades between students who had passed the General Certificate of Education (Advanced Level) in the Bio-Science and Physical-Science streams. Additionally, unemployed and unmarried students performed better than employed and married students. Crucially, the study found that proficiency in English is essential for success in Computer Science courses at the university level. This study had some limitations. First, it was conducted at a single regional center within OUSL, limiting the generalizability of the findings and future research should include all regional and study centers to obtain a larger, more representative sample. Second, since this study relied solely on a quantitative survey, a mixed-methods approach in future research could provide deeper insights into students' perceived challenges with English proficiency. Finally, more advanced statistical analyses could be used to establish causal relationships between relevant factors. It is recommended that, prior to beginning their undergraduate programs, students receive targeted language training, as language barriers may limit the academic performance of students with limited English proficiency.
Original Article382 downloads
Drivers of Carbon Intensity in Indonesia: Unpacking the Effects of FDI, Energy Imports, and Economic Growth
DOI: https://doi.org/10.5281/zenodo.17051895
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This study provides significant contributions to the literature by comprehensively examining the simultaneous effects of foreign direct investment (FDI), energy imports, and economic growth on carbon intensity in Indonesia during 2000–2022, using data from the World Bank and the International Energy Agency (IEA). By applying multiple linear regression analysis, the results reveal that the model has a coefficient of determination (R²) of 0.797, indicating that the independent variables simultaneously explain 79.7% of the variation in carbon intensity. Partially, energy imports exert a negative and significant effect on carbon intensity, primarily through the substitution of coal with cleaner fuels such as liquefied natural gas (LNG) and oil, an aspect rarely discussed in previous Indonesian studies. In contrast, FDI demonstrates a positive and significant effect, reflecting the dominance of pollution-intensive sectors and weak environmental governance, while GDP growth shows no significant impact, suggesting that economic expansion alone has not led to improvements in energy efficiency or a transition to low-carbon sources. Overall, these findings highlight the dual role of FDI, the importance of energy imports in shaping emission dynamics, and the urgent need for stricter environmental governance, a more selective FDI policy oriented toward clean technology, and an accelerated energy transition to achieve sustainable and low-carbon economic growth.
Original Article53 downloads
Circular Economy and Business Model Innovation: A Strategic Perspective
DOI: https://doi.org/10.5281/zenodo.19073022
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The transition to a circular economy has gained significant momentum in recent years, driven by growing environmental concerns and the need for sustainable resource management. This research paper presents a comprehensive review of business model innovations in the circular economy, offering a synthesized analysis of existing literature and empirical studies.

The paper begins by elucidating the key concepts of the circular economy and business models, establishing a solid theoretical foundation for subsequent discussions. It then proceeds to examine a wide array of business model innovations that enable companies to thrive in a circular economy context. These innovations encompass product-as-a-service, sharing platforms, closed-loop systems, remanufacturing, and many others.

The review further explores the drivers and barriers influencing the adoption of these innovative business models, shedding light on the contextual factors that impact their success. It also considers the implications of business model innovations in the circular economy for various stakeholders, including firms, consumers, and governments.

Throughout the review, the paper highlights successful case studies and real-world examples to illustrate the practical application of these business models and their impact on sustainability, profitability, and competitiveness.

By synthesizing the latest research findings and practical insights, this review contributes to a deeper understanding of how businesses can transition towards more sustainable and circular practices. The synthesis of existing knowledge provides valuable guidance for companies, policymakers, and researchers seeking to navigate the evolving landscape of the circular economy. Ultimately, this paper serves as a foundation for further research and strategic decision-making in the pursuit of a more sustainable and circular future for businesses worldwide.