Real Production Research Articles

FINANCIAL CHALLENGES OF TRANSFORMATION PERIOD ECONOMIC AGENTS: LESSONS FROM PRACTICE

INTRODUCTION. The relevance of this study lies in the necessity to examine the financial aspects of business entities operating in a period of transformation, precipitated by the ongoing military conflict that began in 2022. Given this critical context, along with global challenges related to COVID-19, understanding financial challenges becomes pertinent for developing more resilient and effective strategies for enterprise management and the economy in these conditions.
 RESEARCH HYPOTHESIS: The research hypothesis posits that business entities operating in conditions of economic transformation induced by a military conflict are learning from practice and developing strategies to address financial challenges.
 The aim of the research is to analyze the financial challenges faced by business entities in the context of economic transformations resulting from a military conflict, with the goal of deriving valuable learning insights.
 METHODS. The following methods were employed for the research: statistical data analysis, comparative analysis, retrospective analysis, data analysis using the "Maddison Project Database" of the University of Groningen, literature review.
 FINDINGS. In the course of the research, it was found that Ukraine suffered significant losses in its real GDP and industrial production during the military conflict, and these losses proved to be substantial even when compared to other countries that experienced wartime events. The decline in real GDP in 2022 amounted to 29.2%, while industrial production decreased by 38%. The results also underscore the necessity of studying and implementing strategies to support economic recovery in the context of armed conflict.
 CONCLUSION. The research has confirmed significant losses in Ukraine's real GDP and industrial production during a prolonged military conflict. These results highlight the importance of developing and implementing comprehensive strategies to support economic recovery in the context of armed conflict. For future research, potential directions could include further analysis of the impact of the military conflict on various economic sectors, the study of the effectiveness of implemented recovery programs and their influence on economic resilience, as well as an examination of best practices from other countries in addressing similar financial challenges following wartime conflicts.
 KEYWORDS: military conflict; real GDP losses; economic recovery support; financial challenges of economic entities.

Opinion: Do universities help or hurt innovation?

Opinion: Do universities help or hurt innovation? Do Universities help or hurt innovation? Find out in this 25-year academic entrepreneur’s anecdotal perspective of starting companies and developing implants. Thomas J. Webster shares his opinion here. Top research U.S. Universities and others worldwide, sometimes along with respective government funding agencies (like the NSF and the NIH in the U.S.), have spent billions of dollars trying to translate their faculty’s research to industry to develop real commercial products. Whether establishing University technology transfer offices (whose objective is to foster faculty research translation), paying IP lawyer fees for patents, establishing incubator spaces for University faculty spin-out companies, or issuing grants aimed at research primed for industry adoption, it is clear that U.S. Universities are in the high stakes and high funding game of entrepreneurship, and have been so for the last several decades.

Integrated Inbound and Outbound Scheduling for Coal Port: Constraint Programming and Adaptive Local Search

The effective production scheduling of dry bulk ports is a challenging task that demands meticulous planning, task allocation based on customer requirements, as well as strategic route and timing scheduling. Dry bulk ports dedicated to handling commodities like coal and iron ore frequently engage in blending operations as a strategic imperative to gain market competitiveness. The process of blending coal and ore entails the timely arrival of the requisite raw materials at predetermined locations. Simultaneously, it necessitates the coordination of the sequencing of goods entering and departing the port to align with the operational demands associated with material stockpiles. This paper describes and analyzes an operational scheduling problem encountered by one of the largest coal blending sea ports in China. Specifically, a rich constraint programming model is presented to define operation sequences integrating daily inbound and outbound services provided by the port, minimizing the overall operation time. In order to enhance the practicality of the method, a CP-based adaptive simulated annealing local search algorithm has been designed and developed for the optimization problem. The empirical validation of the proposed method is conducted using both real production data and generated experimental data adhering to specific rules. The results conclusively demonstrate the efficacy and feasibility of the proposed method. This also substantiates its practicality and effectiveness in real-world applications, facilitating efficient production and energy-saving operations for the coal port.

CASH CRUNCH AND THE NIGERIAN ECONOMY

This study examined cash crunch and the Nigerian economy. To achieve this objective, relevant data used spanning from 1981-2022 were obtained for the review period from the Central Bank of Nigeria (CBN) Statistical Bulletin and World Bank Indicators. Descriptive statistics, Augmented Dickey Fuller (ADF) Unit root test, Granger causality and Ordinary Least Square (OLS) regression were the analytical tools for this study. Real Gross Domestic Product growth rate (RGDPgr) was used as the dependent variable, while Cash crunch proxy with prime lending rate (CC), Domestic credit by Banks to private sector (DCBPS), Loan to deposit ratio (LDR), Inflation Rate (INFR), Money supply growth rate (MSgr) as the independent variables. Based on the analysis, there exist positive relationship between RGDPgr, CC, DCBS, LDR, and M2gr and a negative relationship existed RGDPgr and INFR. The F-statistic of the regression output stood at 6.208930, this implies that the regression plane is statistically significant. It was also, revealed that cash crunch had negative and significant effect on the Nigerian economy C = -11.97721, P < 0.05 (0.0265 < 0.05), while the overall Prob.(F-Statistic) 0.000302 is less than the 0.05 level of significance implies that there is a statistical significant relationship between the variables. R2= 0.463044 implies that about 46.30% of the total variation in the model specified was accounted for by the independent variables. LDR is platykurtic, RGDPgr, CC, DCBPS, INFR and M2gr are leptokurtic, according to the descriptive analysis, which also showed that all the variables were normally distributed; All the variables were stationary and significant at their respective values. There is the existence of a long-run relationship between the variables indicated by Johansen co-integration equation. Therefore, cash crunch has negative effect on investment in an economy. In conclusion, cash crunch had negative and significant impact on the expansion of Nigerian economy for the period studied. The study recommended that the government through CBN should modified most of its tools and incorporate some of the macro prudential variables in its dealings so as to have robust grips of the economy with the intention of suppressing the adverse effect of inflationary pressure in the economy.
 Keywords: Cash Crunch, Domestic Credit By Banks To Private Sector, Inflation, Money Supply And Nigerian Economy.

Modelling the effect of macroeconomic factors on residential real estate investment returns in Abuja and Lagos, Nigeria

PurposeThis study evaluated the effect of macroeconomic factors on residential real estate (RE) investment returns in the cities of Abuja and Lagos, Nigeria, with a view to guiding RE investors and researchers.Design/methodology/approachA survey research design was employed using a questionnaire to collect RE transaction data from 2008 to 2022 from estate surveying and valuation firms in the study areas. Rental and capital value data collected were used to construct rental and capital value indices and total returns on investment. The macroeconomic data used were retrieved from the archives of the Central Bank of Nigeria (CBN). Granger causality (GC) and multiple regression models were adopted to evaluate the effect of selected macroeconomic variables on residential RE investment returns in the study areas.FindingsThe study found a progressive upward movement in rental and capital values of residential RE investment in the study areas within the study period. Total and risk-adjusted returns on investment were equally positive within the study period. Only the inflation rate, unemployment rate and real gross domestic product (GDP) per capita were found to be the major determinants of residential RE investment returns in the study areas within the study period.Research limitations/implicationsThe secrecy associated with property transaction information/data by RE practitioners in the study areas posed a challenge. Property transaction data were not adequately kept in a way for easier access and retrieval in many of the estate firms and agent offices. Consequently, there was a lack of data that spanned the study period in some of the sampled estate firms or agent offices. This data collection challenge was, however, overcome by the excess time spent retrieving the required data for this study to ensure that the findings appropriately answer the research questions. Practical implicationsInflation and GDP per capita have been found to be significant factors that influence residential RE investment performance in the study areas. Therefore, investors should pay attention to these identified macroeconomic factors for residential RE investment in the study areas whilst making investment decisions in order to mitigate a possible loss of income or return. The government should formulate and implement economic policies that would address the current high unemployment and inflation rates in Nigeria at large.Originality/valueThis study has extended and further enriched the existing body of knowledge in the field of RE investment analysis in Nigeria. To the best of the authors' knowledge, this study is the first to adopt the Cornish Fisher value-at-risk and modified Sharpe ratio models to analyse risk and risk-adjusted returns on residential RE investment, respectively, in Nigeria. It has therefore redirected the focus of RE researchers and practitioners to a more objective approach to RE investment performance analysis in Nigeria.

Impact of Good Governance on Health Outcome, Education Output and Economic Growth among Selected African Countries

Good governance is an essential component that drives better health outcomes and education output required as a catalyst that will stimulate economic growth, and this constitutes a vital social objective due to a good level of human capital development. The study evaluated the impact of good governance on health outcomes, education output and economic growth among selected African countries using panel data from 2000 to 2020. The Panel unit root tests indicated that real gross domestic product, health outcome, and indicators of good governance are stationary at a level. In contrast, education output, education expenditure, health expenditure and foreign aid are stationary at first difference. The Generalized Method of Moment (GMM) results show that good governance indicators have positive and statistically significant effects on real gross domestic product in the selected African countries. Education expenditure has a positive and statistically significant effect on real gross domestic product in the selected African Countries. Primary school enrolment has a positive and statistically significant effect on real gross domestic product in the selected African Countries. Life expectancy has a positive and statistically significant effect on real gross domestic product in the selected African Countries. Health expenditure has a negative but statistically significant effect on real gross domestic product in the selected African Countries. Foreign aid has a positive and statistically significant effect on real gross domestic product in the selected African Countries. The study recommends that African countries should ensure an adequate supply of medical facilities at the level, minimise the incidence of insecurity challenges, and have a good standard of living to increase the life expectancy of African people. All things being equal, the economic growth will increase.

Virtual vs. real: exploring perceptual, cognitive and affective dimensions in design product experiences

BackgroundVirtual Reality (VR) has already emerged as an effective instrument for simulating realistic interactions, across various domains. In the field of User Experience (UX), VR has been used to create prototypes of real-world products. Here, the question is to what extent the users’ experience of a virtual prototype can be equivalent to that of its real counterpart (the real product). This issue particularly concerns the perceptual, cognitive and affective dimensions of users’ experiences.MethodsThis exploratory study aims to address this issue by comparing the users’ experience of a well-known product, i.e., the Graziella bicycle, presented either in Sumerian or Sansar VR platform, or in a physical setting. Participants’ Emotional Engagement, Sense of Presence, Immersion, and Perceived Product Quality were evaluated after being exposed to the product in all conditions (i.e., Sumerian, Sansar and Physical).ResultsThe findings indicated significantly higher levels of Engagement and Positive Affect in the virtual experiences when compared to their real-world counterparts. Additionally, the sole notable distinction among the VR platforms was observed in terms of Realism.ConclusionsThis study suggests the feasibility and potential of immersive VR environments as UX evaluation tools and underscores their effectiveness in replicating genuine real-world experiences.

Modeling and optimization of the hybrid flow shop scheduling problem with sequence-dependent setup times

The hybrid flow shop scheduling problem (HFSP) is an extension of the classic flow shop scheduling problem and widely exists in real industrial production systems. In real production, sequence-dependent setup times (SDST) are very important and cannot be neglected. Therefore, this study focuses HFSP with SDST (HFSP-SDST) to minimize the makespan. To solve this problem, a mixed-integer linear programming (MILP) model to obtain the optimal solutions for small-scale instances is proposed. Given the NP-hard characteristics of HFSP-SDST, an improved artificial bee colony (IABC) algorithm is developed to efficiently solve large-sized instances. In IABC, permutation encoding is used and a hybrid representation that combines forward decoding and backward decoding methods is designed. To search for the solution space that is not included in the encoding and decoding, a problem-specific local search strategy is developed to enlarge the solution space. Experiments are conducted to evaluate the effectiveness of the MILP model and IABC. The results indicate that the proposed MILP model can find the optimal solutions for small-scale instances. The proposed IABC performs much better than the existing algorithms and improves 61 current best solutions of benchmark instances.

Insurance Sector: A Prerequisite to a Sustainable Economic Growth and Development in Nigeria

The main objective of the study is to examine the effect of Insurance sector on the economic growth and development in Nigeria. The specific objective was to determine the effect of insurance premium, insurance investment and insurance assets on the real gross domestic product and human development index. Ex-post facto research design was utilized in the study. This study sourced secondary data from the Central Bank of Nigeria (CBN) statistical bulletin and United Nations Development Programme, spanning a time frame of 11 years, covering the period of 2012 to 2022. The study’s data were analyzed using the Co integrating regression method . The test of hypotheses conducted with the regression estimates from Co integrating regression showed the following results: Insurance premium has a negative and insignificant effect on the real gross domestic product (p-value = 0.6489); Insurance investment has a negative and insignificant effect on the real gross domestic product (p-value = 0.8909); Insurance assets has a positive and insignificant effect on the real gross domestic product (p-value = 0.0931). Insurance premium has a negative and insignificant effect on HDI (p-value = 0.6622); Insurance investment has a negative and insignificant effect on human development index (p-value = 0.9780); Insurance assets has a positive and significant effect on human development index (p-value = 0.0093).The study recommends that authorities in the insurance sector should review their reform policies and adopt strategies to enhance premium mobilization functions in Nigeria. Additionally, the insurance industry appears to have potential within the Nigerian economy, suggesting that insurance companies should focus their investments on more productive sectors.

Agricultural Financing and Economic Growth in Nigeria

This research investigated the impact of agricultural finance on the economic development of Nigeria between the years 1986 and 2022. The Agricultural Credit Guarantee Scheme Fund, bank loans to farmers, government spending on agriculture, and real gross domestic product were used as substitutes for agricultural funding. This analysis relies on time-series data culled from the Central Bank of Nigeria’s statistics bulletin. This research utilised the following data analysis methods: the Ordinary Least Squares (OLS) regression tool, the Error Correction Model technique, the Johansen Cointegration test, and the Augmented Dickey Fuller unit root test. In congruent with the study’s results, there is a substantial relationship between agricultural bank loans and Nigeria’s real GDP. In addition, the Real Gross Domestic Product (GDP)—the monetary worth of all final products and services produced inside Nigeria—is highly correlated with the amount of money the government spends on agriculture. A substantial and important relationship exists between Nigeria’s Real Gross Domestic Product and the Agricultural Credit Guarantee Scheme Fund. The results of the research indicate that the Agricultural Credit Guarantee Scheme Fund, government investment in agriculture, and bank loans all made substantial improvements to Nigeria’s economic development. It has been suggested, among other recommendations, that increasing the volume and size of agricultural loans by reducing the interest rate will facilitate greater economic development in the nation.

Macroeconomic effects of government infrastructural expenditure on economic growth in Nigeria

It is replete in the economic literature that government expenditure on infrastructure affects economic growth positively. But some empirical studies have found a contradictory result in many countries. This study, therefore, examines the macroeconomic effects of government infrastructural expenditure on economic growth in Nigeria from 1981-2021. The objectives of the study are to determine the macroeconomic effects of government expenditure on transport and communication system, education, health, and road and construction on economic growth in Nigeria. The study utilized annual time series data on real gross domestic product (RGDP) and selected explanatory variables which include: government expenditure on transportation and communication, government expenditure on education, government expenditure on health and government expenditure on road and construction. The study adopted the autoregressive distributed lag (ARDL) data analysis technique based on augmented Dickey-Fuller unit root test which indicates that the variables are integrated of I(0) and I(1). Findings reveal that, in the long run, while government expenditure on health, and road and construction have significant but negative and positive effects on real gross domestic product respectively, government expenditure on transportation and communication, and education have positive and insignificant effects on real gross domestic product in Nigeria. The short run findings produced mixed results with one striking revelation that previous value of RGDP (RGDP at lag 1) generates positive effect on RGDP. The study, therefore, concludes that government expenditure on infrastructure affects economic growth in Nigeria within the period under review, and recommends that rational allocation and effective management of public funds should be made on infrastructure with strict supervision of approved public projects.

On The Real Inner Products and Orthogonality for Plithogenic Vector Spaces of Orders 4 and 5

This paper will study the necessary conditions and sufficient conditions for the problem of orthogonality in 4-plithogenic and 5-plithogenic vector spaces, where we provided a definition of the real scalar products defined above these spaces, and we used the new concept of scalar product that was defined in determining the necessary and sufficient condition for the orthogonality of symbolic 4-plithogenic and 5-plithogenic vectors, in addition to calculating various norms and their metric properties. We have also provided some examples that aim to explain the scientific contribution of this work.

How Does the Visualization Technique Affect the Design Process? Using Sketches, Real Products and Virtual Models to Test the User’s Emotional Response

How Does the Visualization Technique Affect the Design Process? Using Sketches, Real Products and Virtual Models to Test the User’s Emotional Response

ACHIEVING THE REQUIRED MACHINING ACCURACY BY CORRECTING ERRORS USING VARIABLES OF PARAMETRIC FUNCTIONS

Nowadays, the machine-building complex is actively saturated with high-tech equipment, without which an enterprise cannot enter the global market or keep up with its competitors. And it's not just about using systems with artificial intelligence elements as scientific and technical solutions to improve quality and reduce production costs. It is also about reducing the time required to prepare products for production and bringing them to the consumer ahead of schedule. Today, the most preferred method in the competitive struggle is to equip CAD/CAM production with computer-aided design systems. With their help, engineering and technology services cannot only design models of new products but also generate CNC control software for manufacturing parts on CNC machines. At the same time, program frames composed in G-codes have several drawbacks, the main one being a "rigid" algorithm of action, i.e., the lack of variability for final solutions when the required accuracy is achieved by correcting the numerical values of the coordinates of the points of formation of individual surfaces in the PC. In this case, the operator largely intuitively corrects individual program frames based on his or her own experience, which is almost impossible without appropriate calculations for controllers with linear-circular and angular motions. In addition, after some such changes, the program loses its geometric adequacy to the part drawing, and by correcting one element of the shaped profile, we invariably violate the laws of contact with neighboring elements specified in the drawing. The paper considers the analytical geometry apparatus that allows a line on a double curvature surface, the theoretical trajectory of tool movement, to be represented not as a set of scalar points but in a vector representation, considering its possible torsion. This approach is ensured by parametric programming with computational frames of point coordinates and logical transitions, determining the angles of inclination of the cutter axis relative to the normal to the surface in the case of multi-axis machining. However, the main advantage of this method is the ability to correct processing errors not by local changes in the numerical values of the coordinates, but by introducing correction coefficients into the equation of the shape formation trajectory - reactors for the appearance of errors in the shape or location of surfaces, arising, for example, from elastic movements. The value of the coefficients per group of personnel can be set in the process of research and industrial production and change depending on the properties of the blanks. For example, according to the current standards, variations in hardness of up to 10-12% were allowed for the blanks of rolling mill rolls. The article presents the experimental data of the research of the correction task in a parametric form and the results of their application for machining parts with radius cutters in real production..

Problems of Integration of Domestic and Foreign Systems Education in the Modern Pedagogical Process

The article is devoted to the problems of integration of various education systems in order to improve pedagogical activity. The subject of the study is the integration of various education systems in the modern pedagogical process. The object of the research is the improvement of the modern pedagogical process based on the integration of domestic and foreign education systems. The author considers: modern problems of integration of various educational systems; goals and possible directions of integration; external and internal factors of implementation of integration processes; directions of improvement of the domestic pedagogical process based on the integration of various educational systems. The main conclusions of the study are: strengthening the educational orientation of the entire education system; reorientation of educational programs to a practical orientation; changes in the order of financing of the education system; providing educational organizations with effective communication with real production; expanding integration with the countries of the economic and political community; taking into account the positive experience of innovative methods of foreign education systems. The author's contribution: substantiation of the relevance of the topic; identification of the essence and content of the integration of various education systems; determination of goal-setting in educational activities. Scientific novelty: the essence and content of integration processes are clarified; integration problems are identified and analyzed; factors, conditions and directions of implementation of integration of Russian and foreign education systems are determined.

Optimization Using Response Surface Methodology (RSM) of NaCl, NaOH, and Activated Charcoal Concentration for the Purification Process of Crude Oil of Common Ponyfish

Crude oil of common ponyfish (Leiognathus equulus) is a by-product of fish protein hydrolysate manufacturing at PT. Berikan Teknologi Indonesia. The quality of the crude fish oil produced falls below the International Fishmeal and Oil Manufacturers Association Standard. Therefore, to improve its quality, a purification process comprising of three stages was employed, degumming with NaCl (5-10%), neutralization with NaOH (10-18°Be), and bleaching with activated charcoal (6-10%). The purification process was optimized using RSM with the Box-Behnken Design. The 15 concentration formulations were obtained with response variables taken based on chemical test parameters (free fatty acids (FFA), acid value, peroxide value, and iodine value). The optimal point of NaCl, NaOH, and activated charcoal concentration was determined at 10%, 18°Be, and 9.4%, respectively with a desirability of 0.744. The purified common ponyfish oil exhibited FFA at 9.52±0.21%, acid value at 3.42±0.17 mg KOH/g, peroxide value at 1.25±0.03 mEq/Kg, and iodine value at 4.12±0.13 mEq/Kg. Pure common ponyfish oil resulting from the optimal conditions has been verified. All parameters indicate that the quality of common ponyfish oil is improved by the refining process. This indicates that the optimized process may be applied in real production in the field with a high degree of confidence.

ВАЛОВИЙ ВНУТРІШНІЙ ПРОДУКТ ЯК ІНДИКАТОР РІВНЯ ЕКОНОМІЧНОГО РОЗВИТКУ КРАЇНИ (НА ПРИКЛАДІ ЧЕСЬКОЇ РЕСПУБЛІКИ)

The article addresses the current issue of researching and analyzing Gross Domestic Product (GDP) as an indicator of national economic competitiveness on a global scale and its impact on the macroeconomic stability of the Czech Republic. The authors emphasize the importance of GDP analysis for effective economic management, planning, forecasting, and ensuring macroeconomic stability. The study is based on a review of previous research and publications by both Ukrainian and foreign scholars. As a result, the concept of Gross Domestic Product (GDP) is thoroughly analyzed, with three main aspects of the concept elucidated: "gross," "domestic," and "product." Furthermore, the article provides crucial explanations to enhance comprehension of the GDP concept. Moreover, the article extensively analyzes the dynamics of nominal and real Gross Domestic Product (GDP) of the Czech Republic from 2016 to 2022. Special attention is given to the impact of the COVID-19 pandemic on the Czech economy and its adverse effects in 2020. The causes of GDP decline are highlighted, along with data on economic recovery at the end of 2020 and an assessment of GDP dynamics in 2021 and 2022. The significance of evaluating GDP growth rates and their potential implications for the Czech economy are underscored, as well as the importance of GDP per capita as an indicator of Czech economic competitiveness and the country's position in the GDP per capita ranking. Additionally, the article examines the impact of declining household consumption on Czech GDP due to inflation and low investments. The methodology of correlation-regression analysis is employed to identify trends in GDP dynamics, along with projected GDP values for 2024 and 2025. It is noted that the main drivers of Czech economic growth should be the export activities of companies and the recovery of household demand. However, further research is needed to explore the analysis of GDP dynamics as an indicator of macroeconomic stability, its impact on forming global competitiveness rankings, and positioning the Czech Republic in the global economic community.

Multiobjective Evolutionary Learning for Multitask Quality Prediction Problems in Continuous Annealing Process.

In industrial production processes, the mechanical properties of materials will directly determine the stability and consistency of product quality. However, detecting the current mechanical property is time-consuming and labor-intensive, and the material quality cannot be controlled in time. To achieve high-quality steel materials, developing a novel intelligent manufacturing technology that can satisfy multitask predictions for material properties has become a new research trend. This article proposes a multiobjective evolutionary learning method based on a two-stage model with topological sparse autoencoder (TSAE) and ensemble learning. For the structure characteristics of a typical autoencoder (AE), a topology-related constraint is incorporated into the loss function of the AE, thus maintaining the global relationship among multistage input data to improve the data reconstruction quality. Then, a sparse representation of the data is added to the AE to achieve dimensionality reduction. Moreover, the extreme gradient boosting (XGBoost) method is applied to predict the mechanical properties of steel materials through collaboration learning mechanisms. To enhance the model accuracy, a multiobjective evolutionary algorithm (MOEA) with a knee solution strategy is used to optimize the network structure and hyperparameters of the two-stage model. Experiments are conducted using real steel production data from a continuous annealing process (CAP). The results verify that the proposed method obtains a higher prediction accuracy than other state-of-the-art methods and can guide practical production and new material design.

INDICATORS AND METHODS OF ASSESSMENT OF MARKETING OPPORTUNITIES OF REAL ESTATE ENTERPRISES

With the development of modern society, the competition in the real estate industry becomes more and more fierce. In this competitive environment, real estate companies need to have excellent marketing capabilities to stand out and achieve sustainable development. Therefore, it is a key issue to determine the evaluation index of real estate marketing ability and choose the appropriate evaluation method. As one of the important pillars of economic and social development, the real estate industry is facing fierce competition. First of all, the market supply and demand relationship is constantly changing, the demand structure is diversified, and consumers are more rational and picky, putting forward higher requirements for the quality and service of real estate products. Secondly, there are many market participants, and the competition among real estate enterprises for customers and market share is becoming increasingly fierce. Innovation ability, market development ability, brand image, etc. have become the key factors for enterprises to win. Finally, changes in the policy environment and fluctuations in the macroeconomic situation also affect the development of the real estate market. Therefore, real estate enterprises need to comprehensively enhance their marketing capabilities to meet the challenges and opportunities of the market. This paper mainly discusses the evaluation index and method of the marketing ability of real estate enterprises. The article first introduces the fierce competition in the real estate industry, enterprises need to have excellent marketing ability to stand out and achieve sustainable development. Therefore, determining the evaluation index of real estate marketing ability and selecting the appropriate evaluation method become the key issues. The article then introduces the determination of marketing capability evaluation indicators need to consider many factors, such as corporate strategic objectives, business models, market environment, etc., and puts forward some evaluation methods, such as performance evaluation, research, SWOT analysis, wordof-mouth brand evaluation and internal evaluation. Finally, the paper suggests that enterprises should formulate evaluation plans according to the actual situation and objectives, and formulate corresponding improvement and promotion measures according to the evaluation results, so as to meet the needs of market changes and enterprise development.

Moderating Effect of Public Debt on Protective Expenditure and Economic Growth of Nigeria

This study evaluated the moderating effect of public debt on productive expenditure and economic growth in Nigeria for the period of thirty one years, from 1993-2023. Ex-post facto research design was adopted. Administrative expenditure and transfer payment are proxies for protective expenditure while real gross domestic product is indicator of economic growth. The data used in this study were secondary data derived from the Central Bank of Nigeria Statistical Bulletin while public debt data was sourced from Debt Management Office Annual Reports. The study used multiple regression analysis. The regression result revealed that administrative expenditure has positive significant effect on economic growth but when moderated by public debt showed significant influence on economic growth in Nigeria. Meanwhile, transfer payment has no significant effect on economic growth but when moderated by public debt revealed an insignificant effect on economic growth in Nigeria. The study concluded that administrative expenditure affect economic growth while, transfer payment has no effect on economic growth. The study recommended that Government should direct more of its protective expenditure towards administrative expenditure as they accelerate economic growth. Also, proper management of public funds allocated to the administrative operations as they have the potential of raising the nation’s production capacity and providing employment for citizens in the country.