\\n\\n
Released this past November, the list is based on data collected from the Web of Science and highlights some of the world’s most influential scientific minds by naming the researchers whose publications over the previous decade have included a high number of Highly Cited Papers placing them among the top 1% most-cited.
\\n\\nWe wish to congratulate all of the researchers named and especially our authors on this amazing accomplishment! We are happy and proud to share in their success!
Note: Edited in March 2021
\\n"}]',published:!0,mainMedia:{caption:"Highly Cited",originalUrl:"/media/original/117"}},components:[{type:"htmlEditorComponent",content:'IntechOpen is proud to announce that 191 of our authors have made the Clarivate™ Highly Cited Researchers List for 2020, ranking them among the top 1% most-cited.
\n\nThroughout the years, the list has named a total of 261 IntechOpen authors as Highly Cited. Of those researchers, 69 have been featured on the list multiple times.
\n\n\n\nReleased this past November, the list is based on data collected from the Web of Science and highlights some of the world’s most influential scientific minds by naming the researchers whose publications over the previous decade have included a high number of Highly Cited Papers placing them among the top 1% most-cited.
\n\nWe wish to congratulate all of the researchers named and especially our authors on this amazing accomplishment! We are happy and proud to share in their success!
Note: Edited in March 2021
\n'}],latestNews:[{slug:"webinar-introduction-to-open-science-wednesday-18-may-1-pm-cest-20220518",title:"Webinar: Introduction to Open Science | Wednesday 18 May, 1 PM CEST"},{slug:"step-in-the-right-direction-intechopen-launches-a-portfolio-of-open-science-journals-20220414",title:"Step in the Right Direction: IntechOpen Launches a Portfolio of Open Science Journals"},{slug:"let-s-meet-at-london-book-fair-5-7-april-2022-olympia-london-20220321",title:"Let’s meet at London Book Fair, 5-7 April 2022, Olympia London"},{slug:"50-books-published-as-part-of-intechopen-and-knowledge-unlatched-ku-collaboration-20220316",title:"50 Books published as part of IntechOpen and Knowledge Unlatched (KU) Collaboration"},{slug:"intechopen-joins-the-united-nations-sustainable-development-goals-publishers-compact-20221702",title:"IntechOpen joins the United Nations Sustainable Development Goals Publishers Compact"},{slug:"intechopen-signs-exclusive-representation-agreement-with-lsr-libros-servicios-y-representaciones-s-a-de-c-v-20211123",title:"IntechOpen Signs Exclusive Representation Agreement with LSR Libros Servicios y Representaciones S.A. de C.V"},{slug:"intechopen-expands-partnership-with-research4life-20211110",title:"IntechOpen Expands Partnership with Research4Life"},{slug:"introducing-intechopen-book-series-a-new-publishing-format-for-oa-books-20210915",title:"Introducing IntechOpen Book Series - A New Publishing Format for OA Books"}]},book:{item:{type:"book",id:"6051",leadTitle:null,fullTitle:"Financial Management from an Emerging Market Perspective",title:"Financial Management from an Emerging Market Perspective",subtitle:null,reviewType:"peer-reviewed",abstract:'One of the main reasons to name this book as Financial Management from an Emerging Market Perspective is to show the main differences of financial theory and practice in emerging markets other than the developed ones. Our many years of learning, teaching, and consulting experience have taught us that the theory of finance differs in developed and emerging markets. It is a well-known fact that emerging markets do not always share the same financial management problems with the developed ones. This book intends to show these differences, which could be traced to several characteristics unique to emerging markets, and these unique characteristics could generate a different view of finance theory in a different manner. As a consequence, different financial decisions, arrangements, institutions, and practices may evolve in emerging markets over time. The purpose of this book is to provide practitioners and academicians with a working knowledge of the different financial management applications and their use in an emerging market setting. Six main topics regarding the financial management applications in emerging markets are covered, and the context of these topics are "Capital Structure," "Market Efficiency and Market Models," "Merger and Acquisitions and Corporate Governance," "Working Capital Management," "Financial Economics and Digital Currency," and "Real Estate and Health Finance."',isbn:"978-953-51-3737-5",printIsbn:"978-953-51-3736-8",pdfIsbn:"978-953-51-4019-1",doi:"10.5772/67898",price:139,priceEur:155,priceUsd:179,slug:"financial-management-from-an-emerging-market-perspective",numberOfPages:332,isOpenForSubmission:!1,isInWos:1,isInBkci:!1,hash:"48fd9d56d82da76c785db97e23ae398e",bookSignature:"Guray Kucukkocaoglu and Soner Gokten",publishedDate:"January 17th 2018",coverURL:"https://cdn.intechopen.com/books/images_new/6051.jpg",numberOfDownloads:30270,numberOfWosCitations:9,numberOfCrossrefCitations:25,numberOfCrossrefCitationsByBook:0,numberOfDimensionsCitations:35,numberOfDimensionsCitationsByBook:0,hasAltmetrics:1,numberOfTotalCitations:69,isAvailableForWebshopOrdering:!0,dateEndFirstStepPublish:"February 20th 2017",dateEndSecondStepPublish:"March 20th 2017",dateEndThirdStepPublish:"September 22nd 2017",dateEndFourthStepPublish:"October 22nd 2017",dateEndFifthStepPublish:"December 22nd 2017",currentStepOfPublishingProcess:5,indexedIn:"1,2,3,4,5,6",editedByType:"Edited by",kuFlag:!1,featuredMarkup:null,editors:[{id:"70354",title:"Ph.D.",name:"Soner",middleName:null,surname:"Gokten",slug:"soner-gokten",fullName:"Soner Gokten",profilePictureURL:"https://mts.intechopen.com/storage/users/70354/images/2275_n.jpg",biography:"Dr. Gokten is an Assistant Professor at Department of Management - Faculty of Economics and Administrative Sciences, Baskent University, Ankara, Turkey. He received his BSBA form Faculty of Economics and Administrative Sciences-Baskent University-Ankara, Turkey, MBA Finance and Ph.D. in Accounting and Finance degrees from Graduate School of Social Sciences-Gazi University, Ankara Turkey. He has published several articles, books, book chapters and conference proceedings. He is serving as a referee for national and international journals and Dr. Gokten has investment advisory, project finance and corporate valuation experience in several national and international projects.",institutionString:null,position:null,outsideEditionCount:0,totalCites:0,totalAuthoredChapters:"1",totalChapterViews:"0",totalEditedBooks:"4",institution:{name:"Başkent University",institutionURL:null,country:{name:"Turkey"}}}],equalEditorOne:null,equalEditorTwo:null,equalEditorThree:null,coeditorOne:{id:"205587",title:"Dr.",name:"Guray",middleName:null,surname:"Kucukkocaoglu",slug:"guray-kucukkocaoglu",fullName:"Guray Kucukkocaoglu",profilePictureURL:"https://mts.intechopen.com/storage/users/205587/images/5161_n.jpg",biography:"Dr. Kucukkocaoglu is a Professor and Chairman of the Management Department-Faculty of Economics and Administrative Sciences at Baskent University, Ankara, Turkey. Part time instructor at Turkish Military Academy, Defense Sciences Institute and Yildirim Beyazit University. Dr. Kucukkocaoglu received his BSBA and MBA Finance degrees form Harmon College of Business Administration-Central Missouri State University, USA, Ph.D. degree from Faculty of Political Sciences-Ankara University, Ankara, Turkey. He has published a number of papers and is serving as a referee for national and international journals. Dr. Kucukkocaoglu has investment advisory, project finance and corporate valuation experience in several national and international projects.",institutionString:null,position:null,outsideEditionCount:0,totalCites:0,totalAuthoredChapters:"0",totalChapterViews:"0",totalEditedBooks:"0",institution:null},coeditorTwo:null,coeditorThree:null,coeditorFour:null,coeditorFive:null,topics:[{id:"436",title:"Financial Applications",slug:"financial-applications"}],chapters:[{id:"56890",title:"Ownership and Debt Financing: Indonesia Evidence",doi:"10.5772/intechopen.70618",slug:"ownership-and-debt-financing-indonesia-evidence",totalDownloads:1499,totalCrossrefCites:1,totalDimensionsCites:2,hasAltmetrics:0,abstract:"This study examines whether ownership concentration influences debt financing of firms in Indonesia. Known to be dominated by family owned, firms in Indonesia seem to have certain distinctive characteristics that are evidenced to have significant impact on their debt financing. Apart from the common firm-level determinants, ownership concentration does play an important role in determining the level of debt consumption of the firms. It is revealed that ownership concentration impacts the debt financing positively, reflecting the power and authority of the large controlling shareholders in using debt as controlling mechanism on the entrenched managers. The positive relationship may also be explained by the reluctance of large shareholders to engage with equity financing as to avoid ownership dilution and thus can maintain the control of the firms. In terms of ownership identity, however, family firms in Indonesia seem to consume much lesser debt level due to the alignment of interest between shareholders and managers, which makes issuing debts as manager’s disciplinary tool less crucial for family-owned firms. This study contributes to the literature by offering insights on how ownership concentration and family-owned firms decide on their capital structure and how certain distinctive characteristics of the firms influence the financing decision.",signatures:"Razali Haron",downloadPdfUrl:"/chapter/pdf-download/56890",previewPdfUrl:"/chapter/pdf-preview/56890",authors:[{id:"206517",title:"Associate Prof.",name:"Razali",surname:"Haron",slug:"razali-haron",fullName:"Razali Haron"}],corrections:null},{id:"57292",title:"Review of Tax Shield Valuation and Its Application to Emerging Markets Finance",doi:"10.5772/intechopen.70943",slug:"review-of-tax-shield-valuation-and-its-application-to-emerging-markets-finance",totalDownloads:1876,totalCrossrefCites:1,totalDimensionsCites:1,hasAltmetrics:0,abstract:"Due to the existence of tax-deductible expenses, a tax advantage, called tax shield, arises. The aim of the chapter is to identify and define the well-known approaches associated with tax shield, mainly interest tax shield and to analyze the approaches to quantify the present value of interest tax shields. Finally, we identify those that can be used in the conditions of emerging markets.",signatures:"Tomas Kliestik and Lucia Michalkova",downloadPdfUrl:"/chapter/pdf-download/57292",previewPdfUrl:"/chapter/pdf-preview/57292",authors:[{id:"207977",title:"Prof.",name:"Tomas",surname:"Kliestik",slug:"tomas-kliestik",fullName:"Tomas Kliestik"},{id:"208029",title:"Ms.",name:"Lucia",surname:"Michalkova",slug:"lucia-michalkova",fullName:"Lucia Michalkova"}],corrections:null},{id:"56642",title:"Testing the Information Efficiency in Emerging Markets",doi:"10.5772/intechopen.70369",slug:"testing-the-information-efficiency-in-emerging-markets",totalDownloads:1660,totalCrossrefCites:1,totalDimensionsCites:3,hasAltmetrics:0,abstract:"One of the most common issues for investors regarding markets nowadays is to what extent these markets are efficient as all of them aim to increase their gains and beat the market as much as possible. This competition among them will inevitably result in markets becoming efficient and, therefore, prices quickly adjusting to the new coming information. Eventually, investors will most probably receive only a sum that makes up for the risk they took and the time value of money they invested. This is where market efficiency, its theory and forms come into question. There have been many researches conducted assessing the efficiency of different markets located throughout the world. However, there are still a lot of gaps in research involving emerging economies which needs to be completed for the sake of investment decisions. Therefore, the purpose of this chapter is to is to show how information efficiency relates to the stock markets of emerging economies, how it implicates investors, analyze the stock prices of 24 emerging economies to look for their weak form efficiency, and to put forward a set of commonalities found in results of literature relating to emerging market information efficiency.",signatures:"Ceyda Aktan, Eyyup Ensari Sahin and Ilhan Kucukkaplan",downloadPdfUrl:"/chapter/pdf-download/56642",previewPdfUrl:"/chapter/pdf-preview/56642",authors:[{id:"205728",title:"Dr.",name:"Eyyüp Ensari",surname:"Şahin",slug:"eyyup-ensari-sahin",fullName:"Eyyüp Ensari Şahin"},{id:"207260",title:"Ph.D. Student",name:"Ceyda",surname:"Aktan",slug:"ceyda-aktan",fullName:"Ceyda Aktan"},{id:"207263",title:"Dr.",name:"İlhan",surname:"Küçükkaplan",slug:"ilhan-kucukkaplan",fullName:"İlhan Küçükkaplan"}],corrections:null},{id:"57075",title:"Comparison of CAPM, Three-Factor Fama-French Model and Five-Factor Fama-French Model for the Turkish Stock Market",doi:"10.5772/intechopen.70867",slug:"comparison-of-capm-three-factor-fama-french-model-and-five-factor-fama-french-model-for-the-turkish-",totalDownloads:3532,totalCrossrefCites:4,totalDimensionsCites:7,hasAltmetrics:1,abstract:"In this study, I try to test the capital asset pricing model (CAPM), three-factor Fama-French (3F-FF) model and five-factor Fama-French (5F-FF) model for the Turkish stock market. The sample is from June 2000 to May 2017. My results show that the five-factor model explains better the common variation in stock returns than the three-factor model and capital asset pricing model. Moreover, the CAPM has no power in explaining monthly excess returns of sorted portfolios. Although three-factor model seems to have significant coefficients, intercepts in this model have significant t-values indicating that the model has problems in explaining the portfolio returns. I use equal weight market portfolio for all the models in order to explain the cross-sectional variations in the stock returns.",signatures:"Yaşar Erdinç",downloadPdfUrl:"/chapter/pdf-download/57075",previewPdfUrl:"/chapter/pdf-preview/57075",authors:[{id:"206570",title:"Dr.",name:"Yaşar",surname:"Erdinç",slug:"yasar-erdinc",fullName:"Yaşar Erdinç"}],corrections:null},{id:"57367",title:"Comparison of Selected Market Indicators During the Dot-Com Bubble",doi:"10.5772/intechopen.71381",slug:"comparison-of-selected-market-indicators-during-the-dot-com-bubble",totalDownloads:1306,totalCrossrefCites:2,totalDimensionsCites:2,hasAltmetrics:1,abstract:"Since the outbreak of the recent financial crisis in 2007, central banks around the world have lowered interest rates while stock markets soared. On the example of North America, Europe, and Asia and in particular the United States, Germany, and China, the situation as of December 2015 is compared on the basis of economic theory and selected key performance indicators to the United States dot-com bubble in the nineties years of the twentieth century. Literature review offers a complex general view on the issue of market bubbles with a historical review of the situation in 2007 and 2008. The only indication of a bubble can be found in the China Securities Index 300, more specifically in the technology sector. The further aim of the paper is related to analyse and compare returns of the explored indices among the regions and the sectors. On a broader level, the study finds that even though there are similarities, the current rise in indices does not qualify for an asset price bubble. Conclusion sums all the observed findings on both the levels – regional and national. Also, it offers suggestions for discussion about the situation on the markets after the financial crisis.",signatures:"Wladimir Schubert, Beáta Gavurová, Viliam Kováč and Martin Užík",downloadPdfUrl:"/chapter/pdf-download/57367",previewPdfUrl:"/chapter/pdf-preview/57367",authors:[{id:"205926",title:"Associate Prof.",name:"Beáta",surname:"Gavurová",slug:"beata-gavurova",fullName:"Beáta Gavurová"},{id:"206104",title:"Mr.",name:"Viliam",surname:"Kováč",slug:"viliam-kovac",fullName:"Viliam Kováč"},{id:"206107",title:"Prof.",name:"Martin",surname:"Užík",slug:"martin-uzik",fullName:"Martin Užík"},{id:"223599",title:"M.Sc.",name:"Wladimir",surname:"Schubert",slug:"wladimir-schubert",fullName:"Wladimir Schubert"}],corrections:null},{id:"57201",title:"Modeling Default Probability via Structural Models of Credit Risk in Context of Emerging Markets",doi:"10.5772/intechopen.71021",slug:"modeling-default-probability-via-structural-models-of-credit-risk-in-context-of-emerging-markets",totalDownloads:1629,totalCrossrefCites:0,totalDimensionsCites:1,hasAltmetrics:0,abstract:"The chapter is focused on the structural models of credit risk introducing basic concepts of risk-neutral world, as well as models and different options for the credit risk quantification. An important part is also the introduction of structural approach for credit risk modeling. Furthermore, the chapter presents basic division of structural models and then presents mathematical derivation of individual apparatuses of models. Among tested models are Merton model, KMV model, Black-Cox model, and Credit Grades model. The practical part is focused on the application of these models under the conditions of local emerging market—Slovakia. Additionally, it pointed out the connection between default probability and credit spreads generated with the use of default mode credit risk models. The main objective is to adjust credit risk model to real market data.",signatures:"Maria Kovacova and Boris Kollar",downloadPdfUrl:"/chapter/pdf-download/57201",previewPdfUrl:"/chapter/pdf-preview/57201",authors:[{id:"207972",title:"Ph.D.",name:"Maria",surname:"Kovacova",slug:"maria-kovacova",fullName:"Maria Kovacova"},{id:"208036",title:"Mr.",name:"Boris",surname:"Kollar",slug:"boris-kollar",fullName:"Boris Kollar"}],corrections:null},{id:"57713",title:"A Comparative Abnormal Return Analysis of Mergers and Acquisitions in the Emerging Markets",doi:"10.5772/intechopen.71821",slug:"a-comparative-abnormal-return-analysis-of-mergers-and-acquisitions-in-the-emerging-markets",totalDownloads:1757,totalCrossrefCites:0,totalDimensionsCites:0,hasAltmetrics:0,abstract:"Financial crisis originated in developed countries in 2008 and has affected M&A activities worldwide. This impact may have irreversible results in emerging market economies. This study aims to examine the spillover effects of 2008 economic crisis, started in developed countries, in emerging markets. In this manner, we have analyzed M&A activities from the acquirer firms’ side in BRICS-T countries (namely, Brazil, Russia, India, China, South Africa, and Turkey) for banking industries in pre-and postcrisis periods so that effects of economic crisis can be captured. Significant transactions over $100 million are included in the analysis. Event study methodology, which uses daily market index returns, daily stock returns, and M&A announcement dates to calculate abnormal returns, is employed for the analysis. The cumulative abnormal returns (CARs) are calculated for September 2003–November 2008 (precrisis period) and November 2008–December 2013 (postcrisis) periods. In conclusion there are negative mean CARs in Brazil, India, and Russia, while there are positive mean CARs in China, South Africa, and Turkey in precrisis period. In addition, there are negative mean CARs in South Africa, Brazil, and China, while there are positive mean CARs in Russia, Turkey, and India in postcrisis period.",signatures:"İrem Sevindik and Fazıl Gökgöz",downloadPdfUrl:"/chapter/pdf-download/57713",previewPdfUrl:"/chapter/pdf-preview/57713",authors:[{id:"207245",title:"Ph.D. Student",name:"İrem",surname:"Sevindik",slug:"irem-sevindik",fullName:"İrem Sevindik"},{id:"216277",title:"Prof.",name:"Fazıl",surname:"Gökgöz",slug:"fazil-gokgoz",fullName:"Fazıl Gökgöz"}],corrections:null},{id:"58102",title:"Corporate Governance and Financial Performance in the Emerging Markets: Do ADRs Perform any Better than Non-Cross-Listed Firms?",doi:"10.5772/intechopen.72297",slug:"corporate-governance-and-financial-performance-in-the-emerging-markets-do-adrs-perform-any-better-th",totalDownloads:1696,totalCrossrefCites:1,totalDimensionsCites:1,hasAltmetrics:0,abstract:"We investigate the impact governance standards have on financial performance of firms operating across various political and socioeconomic regimes. Specifically, we examine the performance of non-cross-listed emerging market firms that implement corporate governance standards similar to those mandated of firms listed on US exchanges. Using cross-sectional time-series analysis, we find that a more rigorous corporate governance structure is associated with better performance (as measured by return on assets (ROA)) among non-cross-listed firms. Cross-listed firms, whose common stock trades as American Depository Receipts (ADRs) and who are subject to the same listing requirements as domestic US firms, exhibit no evidence of improved performance. We also find that the positive performance effect of improving corporate governance is mitigated among firms with higher market risk (i.e., beta).",signatures:"Naz Sayari and Bill Marcum",downloadPdfUrl:"/chapter/pdf-download/58102",previewPdfUrl:"/chapter/pdf-preview/58102",authors:[{id:"226582",title:"Dr.",name:"Bill",surname:"Marcum",slug:"bill-marcum",fullName:"Bill Marcum"},{id:"230787",title:"Dr.",name:"Naz",surname:"Sayari",slug:"naz-sayari",fullName:"Naz Sayari"}],corrections:null},{id:"58497",title:"Financing of Working Capital Requirement and Profitability: Evidence from Borsa Istanbul Chemical, Petroleum, Rubber, and Plastic Sector",doi:"10.5772/intechopen.72760",slug:"financing-of-working-capital-requirement-and-profitability-evidence-from-borsa-istanbul-chemical-pet",totalDownloads:1318,totalCrossrefCites:0,totalDimensionsCites:0,hasAltmetrics:0,abstract:"This study investigates the relationship between the maturity of debt used to finance working capital requirement and profitability. The firms in Borsa Istanbul chemical, petroleum, rubber, and plastic sector are analyzed using two-step generalized method of moments (GMM) method over the 2005–2015 period. The results show a concave-shaped relation between the short-term financial debt that is used to finance the working capital requirement and profitability. The ratio of short-term financial debt increases profitability up to a point, and over this point, the effect of short-term debt on profitability is found to be negative. Furthermore, for financially flexible firms, the breakpoint of the short-term financial debt and profitability relation occurs at the higher levels of the short-term financial debt-to-working capital requirement ratio.",signatures:"Burcu Dinçergök",downloadPdfUrl:"/chapter/pdf-download/58497",previewPdfUrl:"/chapter/pdf-preview/58497",authors:[{id:"231932",title:"M.A.",name:"Burcu",surname:"Dincergok",slug:"burcu-dincergok",fullName:"Burcu Dincergok"}],corrections:null},{id:"57775",title:"The Effects of Working Capital Management on Mining Firm’s Profitability: Empirical Evidence from an Emerging Market",doi:"10.5772/intechopen.71800",slug:"the-effects-of-working-capital-management-on-mining-firm-s-profitability-empirical-evidence-from-an-",totalDownloads:1626,totalCrossrefCites:1,totalDimensionsCites:1,hasAltmetrics:0,abstract:"Working capital management decisions are the most important among the financial decisions in terms of companies. Working capital expresses financing and management of the short-term investment; in other words, profitability and liquidity are among the main factors affecting the objectives of the companies. The management of working capital components in emerging markets such as Turkey, where financial markets have inadequate depth and financial product diversity, with insufficient saving volume and capital accumulation, is an important topic. In this chapter, we examine the relationship between the components of working capital and profitability; a sample consisting of Istanbul Stock Exchange (ISE) listed mining firms for the period of 2009Q4–2015Q3 that has been analyzed under a panel data analysis. The main reason for choosing the mining sector is because it is the most strategic sector in developing countries. As a result, empirical findings of the study show that growth (firm growth in sales) and INVP (inventory period) affect ROA (return on assets), which represent firm profitability positively, while size (firm size) affects firm profitability negatively. On the other hand, the other independent variables included in the regression model LEV (leverage), CCC (cash conversion cycle), and ACRP (accounts receivables period) have no statistically significant effects on firm profitability for mining sector in Turkey.",signatures:"Mutlu Başaran Öztürk and Gizem Vergili",downloadPdfUrl:"/chapter/pdf-download/57775",previewPdfUrl:"/chapter/pdf-preview/57775",authors:[{id:"207189",title:"Prof.",name:"Başaran",surname:"Öztürk",slug:"basaran-ozturk",fullName:"Başaran Öztürk"},{id:"207194",title:"Dr.",name:"Gizem",surname:"Vergili",slug:"gizem-vergili",fullName:"Gizem Vergili"}],corrections:null},{id:"57069",title:"The Effect of Working Capital Management on Profitability in Emerging Countries: Evidence from Turkey",doi:"10.5772/intechopen.70871",slug:"the-effect-of-working-capital-management-on-profitability-in-emerging-countries-evidence-from-turkey",totalDownloads:3469,totalCrossrefCites:2,totalDimensionsCites:3,hasAltmetrics:0,abstract:"This study aims to reveal the tradeoff between working capital components and firm’s profitability by using the data of the firms listed on Borsa Istanbul Industry Index in Turkey. Annual data of 41 firms are used for the period 2005–2016 in the study. The working capital components and firm’s profitability tradeoff was examined via the fixed effects panel regression model. Dependent variable is defined as return on assets; independent variables are cash conversion cycle, inventory conversion period, and payables deferral period; and control variables are sales growth, the ratio of short-term financial debts to short-term debts, and the ratio of fixed assets to total assets. Findings show the existence of tradeoff working capital management profitability. A negative relationship exists between return on assets and payables deferral period, cash conversion cycle, the ratio of short-term financial debts to short-term debts, and the ratio of fixed assets to total assets while return on assets is positively related to inventory conversion period and sales growth.",signatures:"Samet Evci and Nazan Şak",downloadPdfUrl:"/chapter/pdf-download/57069",previewPdfUrl:"/chapter/pdf-preview/57069",authors:[{id:"206626",title:"Ph.D.",name:"Samet",surname:"Evci",slug:"samet-evci",fullName:"Samet Evci"},{id:"207280",title:"Dr.",name:"Nazan",surname:"Şak",slug:"nazan-sak",fullName:"Nazan Şak"}],corrections:null},{id:"57509",title:"The Impact of Exchange Rate Uncertainty on Domestic Investment: Panel Evidence from Emerging Markets and Developing Economies",doi:"10.5772/intechopen.71195",slug:"the-impact-of-exchange-rate-uncertainty-on-domestic-investment-panel-evidence-from-emerging-markets-",totalDownloads:1097,totalCrossrefCites:0,totalDimensionsCites:2,hasAltmetrics:0,abstract:"This study attempts to suggest empirical evidence about the impact of exchange rate uncertainty on the domestic investment for 25 emerging markets and developing economies (EMDEs) for the time line covering the years between 2004 and 2014. Exchange rate uncertainty is modeled by selecting one of the volatility models of GARCH(1, 1), EGARCH(1, 1), or GJR-GARCH(1, 1) for individual countries. The study aims to offer a broad point of view about the impact of exchange rate uncertainty on domestic investment through a feasible generalized least square panel data model by deeming the economic growth, real interest rate, and 2008/2009 global financial crisis (GFC). The empirical results show that the impact of exchange rate uncertainty on domestic investment for EMDEs is found to be positive and significant, which may indicate the existence of risk neutral or insensitive domestic investors to exchange rate uncertainty in these countries. On the other hand, the study also proves that the effect of economic growth is positive and significant on domestic investment, whereas the impact of GFC on domestic investment is negative and significant. However, the impact of real exchange rate on domestic investment is found to be negative but insignificant.",signatures:"Bilge Canbaloglu and Gozde Gurgun",downloadPdfUrl:"/chapter/pdf-download/57509",previewPdfUrl:"/chapter/pdf-preview/57509",authors:[{id:"206577",title:"Dr.",name:"Bilge",surname:"Canbaloglu",slug:"bilge-canbaloglu",fullName:"Bilge Canbaloglu"},{id:"206578",title:"Dr.",name:"Gozde",surname:"Gurgun",slug:"gozde-gurgun",fullName:"Gozde Gurgun"}],corrections:null},{id:"57764",title:"Effects of Inflation Uncertainty on Economic Policies: Inflation-Targeting Regime",doi:"10.5772/intechopen.71625",slug:"effects-of-inflation-uncertainty-on-economic-policies-inflation-targeting-regime",totalDownloads:1207,totalCrossrefCites:0,totalDimensionsCites:0,hasAltmetrics:0,abstract:"Inflation uncertainty maintains its importance in emerging economies as well as in others. Increases in the level of inflation uncertainty constitute an important risk factor by affecting macroeconomic variables in the markets that are sensitive to price changes. The stabilization programs implemented in Turkey during 1980–2003 could not reduce the sensitivity of economic structure to inflationary shocks. Between 2003 and 2015, changes occurred, switching from high inflation to the single-digit inflation rates, in Turkey with transition to the inflation-targeting regime. Within the scope of this study, the effect of inflation uncertainty on inflation, economic growth and selected monetary-fiscal policy variables was examined using multivariate generalized autoregressive conditional heteroscedasticity (MGARCH) models. The dynamic conditional covariance model is designed to reflect the strong time-dependent correlation structure. While the inflation-targeting regime studies in developing countries focus on either the adoption or nonadoption of such a regime and its feasibility, this study evaluates the success of the regime in Turkey as an emerging economy.",signatures:"Mehmet Kenan Terzioğlu",downloadPdfUrl:"/chapter/pdf-download/57764",previewPdfUrl:"/chapter/pdf-preview/57764",authors:[{id:"219093",title:"Associate Prof.",name:"Mehmet",surname:"Terzioğlu",slug:"mehmet-terzioglu",fullName:"Mehmet Terzioğlu"}],corrections:null},{id:"57569",title:"The Economics of Foreign Exchange in Emerging Markets",doi:"10.5772/intechopen.71752",slug:"the-economics-of-foreign-exchange-in-emerging-markets",totalDownloads:1744,totalCrossrefCites:0,totalDimensionsCites:0,hasAltmetrics:0,abstract:"This chapter is to clarify macro issues and suggest main policy tools for emerging countries. Furthermore, financial markets, capital mobility and monetary policy are theoretically discussed. The exchange rate management (that is contractionary devaluation and real exchange rate rules) via exchange rate regimes is the purposed subject of this chapter, that is, consideration of open macroeconomic development policies for emerging markets. We take up three issues related to exchange rates in emerging countries for discussion. The first one is the concept and measurement of real exchange rates as well as exchange rate misalignment and its impact upon economic growth. The second topic taken up is the factors that are important in deciding upon the exchange rate regime and the exchange rate determination for emerging markets. Finally the dilemma problem of policy, in the face of sustained capital inflows, is discussed. A key economic feature that differentiates developed and developing countries is the structure of their financial systems.",signatures:"Okyay Ucan and Nizamettin Basaran",downloadPdfUrl:"/chapter/pdf-download/57569",previewPdfUrl:"/chapter/pdf-preview/57569",authors:[{id:"208100",title:"Associate Prof.",name:"Okyay",surname:"Uçan",slug:"okyay-ucan",fullName:"Okyay Uçan"},{id:"216784",title:"M.Sc.",name:"Nizamettin",surname:"Başaran",slug:"nizamettin-basaran",fullName:"Nizamettin Başaran"}],corrections:null},{id:"57380",title:"Bitcoin and the World of Digital Currencies",doi:"10.5772/intechopen.71294",slug:"bitcoin-and-the-world-of-digital-currencies",totalDownloads:1936,totalCrossrefCites:10,totalDimensionsCites:10,hasAltmetrics:1,abstract:"A peer-to-peer system of blockchain, originally started for a cryptocurrency Bitcoin, has caused major disruptions in the stock market. It has affected many businesses if not all, but its significance in the financial world is magnanimous. Historical data (daily rates) for the past 23 months are analyzed to understand the market size, market capitalization and price volatility for Bitcoin. Time series data and financial model are applied to realize the shocks. Monte Carlo simulation is applied to assess the dynamic structure of Bitcoin. With greater volume and activity, the banks and financial intermediaries may become outdated, and the middleman will have no place. It seems like a distant thought, but the facts are pointing toward its reality.",signatures:"Asma Salman and Muthanna G. Abdul Razzaq",downloadPdfUrl:"/chapter/pdf-download/57380",previewPdfUrl:"/chapter/pdf-preview/57380",authors:[{id:"206443",title:"Prof.",name:"Asma",surname:"Salman",slug:"asma-salman",fullName:"Asma Salman"},{id:"218391",title:"Prof.",name:"Muthanna G.",surname:"Abdul Razzaq",slug:"muthanna-g.-abdul-razzaq",fullName:"Muthanna G. Abdul Razzaq"}],corrections:null},{id:"57593",title:"Performance Stability of Turkish REITs",doi:"10.5772/intechopen.71629",slug:"performance-stability-of-turkish-reits",totalDownloads:1372,totalCrossrefCites:1,totalDimensionsCites:1,hasAltmetrics:0,abstract:"The main purpose of this study is to analyse the performance stability of REIT Index and individual REITs over different sub-periods. The performance of the REITs is compared to mainly that of BIST 100 Index. For analysing the performance stability, three different risk-adjusted measures, namely Sharpe ratio, Treynor ratio and Jensen’s alpha, are employed for four different periods. These periods are determined with respect to important regulatory changes in the Turkish REIT market and also to economic states of the country. The results show that Treynor and Sharpe ratios rank the REITs consistently for the high-growth periods. However, the rankings are not that consistent in low-growth periods and even they may contrast significantly. The results also show us that regulatory changes almost have no impact on the performances of the REITs. On the other hand, time-varying behaviour of betas also makes it difficult to attribute the changes in performances to states of economy",signatures:"Sema Bayraktar",downloadPdfUrl:"/chapter/pdf-download/57593",previewPdfUrl:"/chapter/pdf-preview/57593",authors:[{id:"220799",title:"Ph.D.",name:"Sema",surname:"Bayraktar",slug:"sema-bayraktar",fullName:"Sema Bayraktar"}],corrections:null},{id:"56632",title:"Analysis of Financial Losses due to Poor Adherence of Patients with Chronic Diseases and Their Impact on Health Economics",doi:"10.5772/intechopen.70320",slug:"analysis-of-financial-losses-due-to-poor-adherence-of-patients-with-chronic-diseases-and-their-impac",totalDownloads:1550,totalCrossrefCites:1,totalDimensionsCites:1,hasAltmetrics:0,abstract:"Pharmaceutical drugs—prescription drugs, not over-the-counter drugs—have prices that are negotiated between pharmaceutical companies and National Ministry of Health or national agency for medicines or national health insurers in every country. Prescription drug expenditures have increased every country’s healthcare costs. Medication adherence (defined as not obtained refills of prescriptions or suboptimal dosing of prescribed drugs) is a growing concern to physicians and healthcare systems because of the multiple evidence of noncompliance among patients and correlated adverse outcomes. A patient is considered adherent if he/she takes 80% of his/her prescribed medicine(s). Different studies showed that patients do not take their prescribed medicines about half the time. Financial losses due to poor adherence are the result of unnecessary time-consuming work and costs for potential harm to patients. Hospitalization rates are reduced at higher levels of medication adherence. There are two types of financial losses due to poor treatment adherence: medical costs (measured by hospitalization risk) and drugs costs (without patient copayments). This financial loss analysis underlines the promotion of medication adherence by the patients.",signatures:"Adina Turcu-Stiolica, Mihaela-Simona Subtirelu, Adriana-Elena\nTaerel, Anamaria Boboia and Anca Berbecaru-Iovan",downloadPdfUrl:"/chapter/pdf-download/56632",previewPdfUrl:"/chapter/pdf-preview/56632",authors:[{id:"190698",title:"Dr.",name:"Anca",surname:"Berbecaru-Iovan",slug:"anca-berbecaru-iovan",fullName:"Anca Berbecaru-Iovan"},{id:"206897",title:"Prof.",name:"Adina",surname:"Turcu-Stiolica",slug:"adina-turcu-stiolica",fullName:"Adina Turcu-Stiolica"},{id:"206902",title:"BSc.",name:"Mihaela-Simona",surname:"Subtirelu",slug:"mihaela-simona-subtirelu",fullName:"Mihaela-Simona Subtirelu"},{id:"206903",title:"Prof.",name:"Adriana-Elena",surname:"Taerel",slug:"adriana-elena-taerel",fullName:"Adriana-Elena Taerel"},{id:"206904",title:"Prof.",name:"Anamaria",surname:"Boboia",slug:"anamaria-boboia",fullName:"Anamaria Boboia"}],corrections:null}],productType:{id:"1",title:"Edited Volume",chapterContentType:"chapter",authoredCaption:"Edited by"},subseries:null,tags:null},relatedBooks:[{type:"book",id:"6000",title:"Accounting and Corporate Reporting",subtitle:"Today and Tomorrow",isOpenForSubmission:!1,hash:"aa4f840bdfa861be2f1c4b982a1e2cb5",slug:"accounting-and-corporate-reporting-today-and-tomorrow",bookSignature:"Soner Gokten",coverURL:"https://cdn.intechopen.com/books/images_new/6000.jpg",editedByType:"Edited by",editors:[{id:"70354",title:"Ph.D.",name:"Soner",surname:"Gokten",slug:"soner-gokten",fullName:"Soner Gokten"}],equalEditorOne:null,equalEditorTwo:null,equalEditorThree:null,productType:{id:"1",chapterContentType:"chapter",authoredCaption:"Edited by"}},{type:"book",id:"6490",title:"Energy Management for Sustainable Development",subtitle:null,isOpenForSubmission:!1,hash:"a5e77ab7a4bfed7a2a1d524b8a3d6a90",slug:"energy-management-for-sustainable-development",bookSignature:"Soner Gokten and Guray Kucukkocaoglu",coverURL:"https://cdn.intechopen.com/books/images_new/6490.jpg",editedByType:"Edited by",editors:[{id:"70354",title:"Ph.D.",name:"Soner",surname:"Gokten",slug:"soner-gokten",fullName:"Soner Gokten"}],equalEditorOne:null,equalEditorTwo:null,equalEditorThree:null,productType:{id:"1",chapterContentType:"chapter",authoredCaption:"Edited by"}},{type:"book",id:"6823",title:"Sustainability Assessment and Reporting",subtitle:null,isOpenForSubmission:!1,hash:"4db72204a34eff9b5143955463b293cf",slug:"sustainability-assessment-and-reporting",bookSignature:"Soner Gokten and Pinar Okan Gokten",coverURL:"https://cdn.intechopen.com/books/images_new/6823.jpg",editedByType:"Edited by",editors:[{id:"70354",title:"Ph.D.",name:"Soner",surname:"Gokten",slug:"soner-gokten",fullName:"Soner Gokten"}],equalEditorOne:null,equalEditorTwo:null,equalEditorThree:null,productType:{id:"1",chapterContentType:"chapter",authoredCaption:"Edited by"}},{type:"book",id:"1591",title:"Infrared Spectroscopy",subtitle:"Materials Science, Engineering and Technology",isOpenForSubmission:!1,hash:"99b4b7b71a8caeb693ed762b40b017f4",slug:"infrared-spectroscopy-materials-science-engineering-and-technology",bookSignature:"Theophile Theophanides",coverURL:"https://cdn.intechopen.com/books/images_new/1591.jpg",editedByType:"Edited by",editors:[{id:"37194",title:"Dr.",name:"Theophile",surname:"Theophanides",slug:"theophile-theophanides",fullName:"Theophile Theophanides"}],equalEditorOne:null,equalEditorTwo:null,equalEditorThree:null,productType:{id:"1",chapterContentType:"chapter",authoredCaption:"Edited by"}},{type:"book",id:"3161",title:"Frontiers in Guided Wave Optics and Optoelectronics",subtitle:null,isOpenForSubmission:!1,hash:"deb44e9c99f82bbce1083abea743146c",slug:"frontiers-in-guided-wave-optics-and-optoelectronics",bookSignature:"Bishnu Pal",coverURL:"https://cdn.intechopen.com/books/images_new/3161.jpg",editedByType:"Edited by",editors:[{id:"4782",title:"Prof.",name:"Bishnu",surname:"Pal",slug:"bishnu-pal",fullName:"Bishnu Pal"}],equalEditorOne:null,equalEditorTwo:null,equalEditorThree:null,productType:{id:"1",chapterContentType:"chapter",authoredCaption:"Edited by"}},{type:"book",id:"3092",title:"Anopheles mosquitoes",subtitle:"New insights into malaria vectors",isOpenForSubmission:!1,hash:"c9e622485316d5e296288bf24d2b0d64",slug:"anopheles-mosquitoes-new-insights-into-malaria-vectors",bookSignature:"Sylvie Manguin",coverURL:"https://cdn.intechopen.com/books/images_new/3092.jpg",editedByType:"Edited by",editors:[{id:"50017",title:"Prof.",name:"Sylvie",surname:"Manguin",slug:"sylvie-manguin",fullName:"Sylvie Manguin"}],equalEditorOne:null,equalEditorTwo:null,equalEditorThree:null,productType:{id:"1",chapterContentType:"chapter",authoredCaption:"Edited by"}},{type:"book",id:"371",title:"Abiotic Stress in Plants",subtitle:"Mechanisms and Adaptations",isOpenForSubmission:!1,hash:"588466f487e307619849d72389178a74",slug:"abiotic-stress-in-plants-mechanisms-and-adaptations",bookSignature:"Arun Shanker and B. 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Its infection is chiefly manifested through rapid spread and harmful respiratory consequences. The statistics of infection is rapidly growing across nations associated with its ever increasing death toll despite the infection prevention controlled (IPC) strategies that have been adhered to, such as wearing of face mask, social distancing and washing of hands. Reports indicate that United States, India, Brazil, Russia, Peru and Colombia are the most hit with largest confirmed cases [1], however Africa is no exception. In all ramifications, COVID-19 is compounding global health crisis with a major economic and financial crisis that is threatening to set in motion severe mental crisis that will burden the society for years to come.
Historically, records show that infectious diseases are correlated with psychological distress and mental health issues like depression, post-traumatic stress disorder, substance use disorder, domestic violence and child abuse [2]. Besides, quarantined individuals as in the case of COVID-19 are susceptible to present severe anxiety disorder and cognitive distress including depression, panic attack, anxiety and suicidal ideation [3].
Across the globe people are experiencing untold apprehension regarding the possibility of being infected, losing jobs and having children out of school. The prolonged existence of such trepidation is an antecedent of mental ill health. It is in this regard that this paper explores the challenges and compromises some counselors encounter when they are assisting individuals who were either infected or affected by COVID-19. These counselors are based in Nigeria, South Africa and Uganda. The exploration is largely based on data gathered through social media and personal experiences of the authors including email communications with their colleagues. Based on these narratives and its thematic analysis this paper makes recommendation that ought to be of interest to counseling policy makers regarding the provision of services in the context of COVID-19 pandemic and beyond.
COVID-19 has a package of mixed sentiment for almost everyone ranging from the fear of being infected to how long the virus would exist in the world including the possibility of advancing a vaccine to curb the risk of infection [4]. Majority of the world’s populace are perplexed that COVID-19 is not going away soon, hence the anticipation is that everyone has to grapple with the likelihood of being a direct victim coupled with the fact that it is changing the world’s economic, educational, political, socio-religious spaces [5]. Majority of the people are having a desert experience reflected in the reality that whilst some have resources such as food, water, electricity, others have nothing including the fact that some can work from home yet many cannot. To a large extent no one can really predict the level of post-traumatic stress disorder (PTSD) that would arise from the experiences of COVID-19 [6]. The restriction on movement though it has eased off a bit without much downward shift in the rate of infection, is constraining nearly all Nations of the world to still keep their boarders closed. The threatening reality is, would life ever return to its normalcy. Hence it is not an exaggeration to say that COVID-19 is holding the world to a spell-bound changing paradigm of trade-online, school-online, worship-online and counseling-online and everything online all the way. The question is what kind of implication does this change in paradigm pose to people’s sense of living? It is in this bid that professional trained psychologists/counselors alongside other health practitioners who provide essential services for wellness of life are risking their own lives to stand out there ensuring that physical, mental and social among many other form of wellbeing is maintained.
Epistemologically, every counseling session comes to birth on the premise that everyone needs therapeutic assistance in order to grapple with life’s stressors. Accordingly, counselors ought to wait for clients to knock on their doors requesting for help, which requires the establishment of due protocol such as booking appointment, negotiating time/place for the meeting, duration and fees among other things [7]. However, the leverage of life stressors associated with COVID-19 has necessitated that counselors move out of their work comfort zones to offer help to the populace who are traumatized irrespective of the professional demands of having client’s referral among others. The overwhelming demand for help has led professional trained psychologists/counselors to stretch their boundaries to offer voluntary services. Literally, counseling psychologists have to put on the tag reading ‘we are here to help’ and this slogan needed to be frequently repeated. This concept is what the paper presents as voluntary counseling. Hence, the notion of providing voluntary counseling with or without pay, face-to-face interaction leading to online paradigm of counseling intervention has become a reality.
Volunteering could refer to the inclusiveness of having all hands on deck including untrained and trained professionals. This form of intervention has proved to be challenging in some African countries, particularly in South Africa where psychological services are highly regulated. As a result, most registered counselors were more cautious when offering this form of intervention, so that they do not violate ethics and regulation of the Health Professions Council of Psychology (HPCSA). As such they waited until HPCSA has published the guideline on telehealth and telepsychology that most of practitioners and organizations such as the
The safety requirement of social distancing and lockdown in the context of COVID-19 has forcefully defied the norm of face-to-face counseling services in favor of online. Although online counseling pre-existed COVID-19 but it is still in its infancy and psychologists/counselors were in the process of navigating its full canons and operative modalities. According to Nwachukwu and colleagues [8] online counseling is a viable alternative source of help when traditional psychotherapy is not accessible, therefore counselors could resort to different forms of online such as internet counseling, e-mail counseling, web counseling, e-therapy, tele-therapy and/or cyber-therapy [7]. However, it is important to note that online counseling is challenging and requires additional training for the traditional professional counselor [7]. In addition, it has cost implication as it involves the use of ICT related components which is not easily available to all counselors/clients particularly in developing countries [8]. Hence some of the frustration could reflect in poor power supply, limited service and lack of competence. Other challenges reflect in the risk of confidentiality and safety of the client’s data as storage system for online data could easily be violated by service providers despite the fact that some stored information could become corrupted, thus become inaccessible. Besides, online counseling consumers ought to have access to technology [9], and as well be proficient with online communication which include the ability to express feelings and ideas in text format. As such some scholars argue that online counseling should not replace traditional therapy but rather be used when necessary bearing in mind that not all cases can be handled via e-counseling [8]. Nonetheless, online counseling is convenient and offers the client remote access to therapy and the counselor’s physical absence reduces or even eliminates the client’s initial shame or need to “save face” while presenting a problem [10].
This section presents the narratives collected from social media, personal experiences of the authors and communications with their colleagues across African nations, particularly from Nigeria, South Africa and Uganda. The narratives are presented in themes.
The index case of COVID-19 in Nigeria was reported on March 27, 2020 and at present the infection rate has risen to a total of 55,632 confirmed cases, 43,610 recovered cases with a total death of 1070. In responding to the pandemic health professionals took the bold step of being in the frontline battling to attend to the infected in order to slow down the curve of infection whilst trained psychologists work alongside with them assisting the populace to manage the associated distress arising from the crisis. In this context, a free telepsychological service team had been constituted to provide free tele-psychological (e-counseling) services to the needy members of the public in a bid to assist them manage the present and aftermath effect of the pandemic on mental health [11]. Hence, the professional psychologists offer volunteer services despite the challenges and compromises they encounter. Some of the Nigerian counselors’ experiences are presented using three themes as follows: Lack of experience versus poor internet availability, clients’ perceived privacy versus data security and professional demand versus client’s satisfaction.
Some of the Nigerian counselors’ narratives reflect instances of lack of experiences of handling online counseling particularly in the context of COVID-19 wherein social distancing completely deter face-to-face interaction. For some of these counselors, interacting solely online is overwhelming and they grapple with the best skill for assisting the clients to manage their mental health. Some of the counselors expressed that identifying severe depressive symptoms like suicide ideation is often challenging. Hence, the counselors are faced with the dilemma of either breaking the protocol of social distancing to reach out to clients who may be in dire need of their physical presence. Based on personal communication a counselor narrated her predicament as follows:
In this narrative the counselor is not only frustrated but stretches his/her resources to reach out to the client by calling back. Hence, it can be argued that counselors are challenged to compromise their resources whilst offering online counseling to clients in the face of COVID-19 despite the temptation of wanting to break the lockdown/social distancing protocol, another argument reflecting the idea of the emotional cost involved should be added as follows: Besides, it is important to note the emotional cost that the counsellor encounters based on the experiences of the frustration. The counsellor could easily experience burn-out should s/he continue to experience frequent frustration. In addition, some other counselors emphasized that online counseling is always interfered with due to poor network connection. In this regard, one counselor via email communication expressed:
Explicitly, this counselor states that fluctuation of network services impact on the smooth flow of online counseling session. What this means is that more time is likely spent, which by extension means spending more resources on data in order to stay tuned in, and the question is how would the counselor and counselee sustain such expenditure? Equally, the experience of poor internet availability is affirmed by counselors who expressed that failure in power supply is one of the major causes. In this view, one counselor reported:
Basically, the above narratives indicate that there are a number of challenges that counselors encounter ranging from lack of skills to poor internet connectivity, which need to be addressed in order to find a better way of providing online counseling. What is emerging is that online counseling cannot possibly replace traditional face-to-face [12]. Hence, negotiations are needed to integrate the two in order to withstand the stress of the time such as COVID-19 pandemic.
Some counselors emphasized that although online counseling has facilitated client’s perceived privacy in the sense that majority of their clients have made in-depth disclosure of themselves which they may not naturally do within face-to-face counseling they are still worried about the clients’ data security. In this line some of them narrated that they struggle to save data from being violated by service provider including safe guarding them from getting corrupt. In this context, one counselor in a radio interview said:
This counselor expressed that clients seems to be more open to sharing their stories over the phone in comparison to face-to-face conversation. For this counselor, this is a plus but he is worried about the security of the data. His major concern is focused on the maintenance of confidentiality of which he is not alone as another counselor reiterated:
In this counselor’s narrative, the mismatch status quo is clear; it is the counselor’s concern over security of data and client’s attitude towards interference from others due to cultural orientation. Thus, what is the best practice counselors should adapt in order to bring their clientele to the same level where they are? This question relates directly to the next challenges regarding the clients’ satisfaction and professional demand.
Some of the counselors in their narrative claimed that online provision of services impact on some of the professional demand such as ethics of informed consent as many clients are not aware of such requirement. Therefore, they sometimes act like the counselor is wasting their time and data bundle by following the fundamental rudiments such as introducing yourself, your qualifications, specific approach, if you are a registered counselor including establishing which online facility the client prefers. Accordingly, one counselor presents the challenge she encounters in view of informed consent expressing that clients always seem to be in a hurry to get it over and done with (Abuja Local Chapter of Counseling Association Meeting, July 2020). In affirmation another counselor via email communication stated:
Therefore, the challenges according to this counselor’s narrative reflect the struggles counselors encounter in order to maintain professional ethics whilst sustaining clients’ satisfaction. These are two parallel lines which if care is not taken might be compromised. However, another counselor emphasized that because she wants to satisfy the clients, she would always bend some of the professional demands in order to make the clients happier. As such she would allow the client to go straight on and pour out their narratives amidst tears as their experiences are stressful reflecting fear of contracting the virus, losing job, having children stay home all the time including the reality that a victim died in their neighborhood but they could not condole with the family among many others.
As a result of the global outbreak of COVID-19, most people in South Africa struggled with the “new normal”. It is under this “new normal” that citizens were expected to change their ways of life. The adjustment process affected the economies, corporate spaces, education system, religion and families. At the personal level, the pandemic and the process of adjustment triggered in most people, the onset of mental disorders, such as anxiety and depression [3]. The rise in these disorders suggested that the psychological services were needed, to maintain the mental health for the citizens.
During lockdown, citizens who were presenting with symptoms of mental illnesses became more frustrated because the public health care centres were only accessible for the severe and emergency cases. To help the public, mental health practitioners who run their private practices offered their volunteering services to the citizens who were affected by both COVID-19 and gender based violence. Their counseling services were offered through direct telephone or through
Most of the mental health practitioners (registered counselors/psychologists) in South Africa were trained to use the traditional methods of counseling such as face-to-face counseling. When COVID-19 hit the shores of South Africa, the first challenge was to find a new counseling mode and platform that would not expose the clients/counselors to COVID-19 since the traditional methods were not safe. It is in this regard that telepsychology was recommended as the safest method in this era. As an unfamiliar method, some of the counselors and psychologists were not confident in using it:
At first, the practitioners were not confident in using this mode since they did not have the formal training in it. Again, the practitioners were concerned that without such training, they are likely to violate HPCSA ethics rules and regulations. As such one counselor countered:
Even though it was frustrating at first, counselors had to navigate their way through, to ensure that they do not deny the public of these vital services, yet at the same time they ensured that they do not violate the HPCSA ethics.
In addition, another issue that was raised concerning telepsychology was confidentiality. According to HPCSA form 223, in offering psychological services, the practitioner is expected to maintain confidentiality. However, it is during this time that the practitioners experienced an ethical dilemma on how to handle confidentiality in telepsychology since the information of the session could still be accessed by the network providers of both users. Most of these practitioners are still uncomfortable with this intervention approach since private information might not necessarily be private. As such one counselor stated:
Although there is no total security of information when one uses this mode, in the meantime, to mitigate this risk, most of the practitioners resorted to informing the clients about this limitation before the commencement of the first session. The challenge with this form of mitigation is that it is likely to limit the client from sharing their most private issues with the practitioner.
When they started with the intervention, some of the practitioners did not anticipate that the cases would be overwhelming. Immediately when their telephone numbers were broadcasted over the local radio stations, the practitioners were overwhelmed by many calls which were outside the scope of the mental health practitioner expertise. For example some counselors expressed:
The influx of calls from the citizens was an indication that most people indeed needed help, not only related to COVID-19 but covering a wide range of issues. To narrow this influx of calls, the public were encouraged to contact the practitioners on matters related to mental health.
As they continued to offer their volunteering services to the public, one other challenge was that there was no uniformity in recording of the statistics. Since this volunteering was unplanned, it was not coordinated. Instead, different templates were used to record the cases. In as much as psychological intervention was provided, statistics is also important for designing future intervention strategies based on the current findings as a baseline. With such gaps, it would be a challenge to improve the services and for future intervention.
Another challenge that was brought forth was the issue of boundaries. Since the practitioners availed their personal contact numbers to the public, it was challenging at first because some individuals would sometimes phone the counselor at odd times even though the public have been informed of the counselor’s available times. Giving out personal numbers to the public led to enmeshed boundaries. To resolve this problem, practitioners had to find ways to re-create boundaries. To this effect, one counselor said:
Despite all these challenges, it seems practitioners perceived them as a learning curve that contributed to their professional growth.
When they started volunteering, it was anticipated that the time spent with the general public might affect the businesses of counselors negatively since most of them are self-employed. However, the counselors reported that they scheduled times for their daily work and for volunteering differently in order to control interference. Even though their businesses were not affected, a concern related to costs was raised. It was reported that some of the members of the public called the practitioner using less credit and during the session, they requested to be called back once their credit is depleted:
To ensure that their volunteering do not affect their finances, some of the practitioners stated that they informed the clients that they are liable for their phone bill. For instance, it was clarified that if the call breaks, the client would call again when s/he has enough credit. Alternatively, they were sent a message to contact the toll-free numbers for the non-governmental organizations that are providing counseling services too.
Even though their volunteering compromised their time and money in some instances, to some extent the process has enabled them to be innovative in trying to meet the needs of their clients using telepsychology. Despite the compromises and challenges, volunteer counseling appears to have also brought fulfillment as one counselor expressed:
On March 21, 2020, Uganda confirmed the first case of COVID-19. This unfortunate information resulted to restrictive measures including country-wide lockdown of sectors except those providing essential goods and services [13]. This has been accompanied with mental problems including stress, depression, anxiety and others. Mental health services were notably on demand during the pandemic owing to the rise in mental health issues, child abuse and gender- based violence [14]. Cognizant of the repercussions of the virus on the mental health, the Ministry of Health (MoH) invited and recruited volunteer health professionals in response to the National fight against COVID-19. Some of these volunteer counselors provide face-to-face counseling services while others have resorted to telepsychology. Volunteer counselors have been surprised at how effective telepsychology can be of help amidst the pandemic. One of the counselors said:
The use of telepsychology helps connect mental health professionals to undeserved clients. The client and counselor can engage in service while maintaining social and physical distance. People are encouraged to call or send messages to the mental health professionals. However, there are noticeable challenges and compromises on the side of mental health workers who volunteered their services. These challenges and compromises are categorized into three themes as presented below.
The term telepsychology refers to using internet and communication technologies. In the context of COVID-19 this means access to internet is access to counseling services. However, counselors and clients had issues related to internet subscription. Some of the telepsychology channels and information platforms leveraged on third party operators including Facebook, WhatsApp and others are costly. The extra charges incurred on Over the Top (OTT) tax affected the use of telepsychology platform and mental health information access for the population [15]. Besides, many counselors did not have adequate training in the use of modern technology. Other counselors complained of poor network connectivity and consistent power blackout. In this context, the counselors believe that there is need for national guideline grounded with respect to local context. One counselor had this to say:
In developing countries like Uganda, many people are offline because either they cannot afford smartphones or costs involved and hence unable to access the service. Internet access plays an important role in providing mental health services. Additionally, internet connection is not always stable. One counselor put it better:
Counselors are able to offer counseling through modern technology to clients who had psychological and emotional challenges. However, some counselors believe that many other clients are unable to transit to telepsychology despite the fact that they are in need of professional support. One counselor said:
Non-verbal communication is established through gestures, postural positions, eye contact, voice tone and nodding. The volunteer counselors believe that failure to observe the nonverbal communication was a serious challenge to them using telepsychology. The counselor may wish to match the client’s posture with verbal communication for congruence or incongruence. The counselors believe that something is lost due to virtual distance between the clients and counselors. One counselor tells her experience with respect to non-verbal cues:
Counselors believe that when sitting with clients, they often use their own body language and positioning to help clients feel more comfortable during moments of silence or when struggling with difficult emotions. However, this strategy is difficult to deploy with telepsychology sessions. One counselor said. The outbreak of COVID-19 therefore has had a deep impact on the way counselors communicate with clients given the need to maintain isolation and social distancing. However, both of these have been compromised in the COVID-19 experiences. A counselor narrative expounded on this challenge:
The rapid emergency of digital technology used by counselors to deliver services during COVID-19 is characterized by issues related with privacy and confidentiality. The counselors acknowledged that there are no national guidelines for secure management of individual’s electronic information and services placing personal private data at risk. Other individuals might have access to private and confidential conversation. Even stored data could be accessed by unauthorized companies or people. Therefore there are significant privacy and confidential risks in telepsychology systems that can greatly impact the clients’ and counselors’ levels of trust and relationship and use of the technology [16]. A client who wants privacy, getting a safe place in crowded house to do a 60 min telepsychology session is quite challenging. A counselor shared his experience:
Another counselor shared her experience:
Another counselor reported:
Some clients found it difficult to be able to speak in private. Their children, wives or husbands were home and it was difficult to have an hour-long or so conversation without being interrupted. It is a challenge for counselors to address difficult issues when family members are around or nearby. The spread of the virus and social distancing measures are changing the way counselors work across the scope of the field. In the transition from face-to-face to telepsychology, new ethical challenges are emerging. With family members including children, roommates and partners spending more time at home, it can be difficult to maintain the confidential space which is key to therapeutic relationship.
In the context of COVID-19, telepsychology has become a reality facilitating the ease of providing online counseling within the challenges of safety protocols. Therefore, this paper recommends that counseling regulatory bodies within African countries (particularly in Nigeria and Uganda) should generate operative policies to guide provision of e-counseling services. Such policies should expand on the training needs of counselors, ethical issues of confidentialities, relationship boundaries, and informed consent among many others as the counselor’s narratives presented in the paper emphasized. No doubt such policies will highly offer immensurable support to counselors who otherwise may continue to grope in the dark for want of guiding procedures to follow, except for South Africa where there is seemingly an already existing policy.
It is anticipated that the policy document should influence the higher education training program to appreciate the need to make a paradigm shift towards integrating the canons of e-counseling into its curriculum in order to adequately prepare the student counselors to be effective and efficient e-counselors. This would also mean that concurrent workshops in terms of in-service-training ought to be offered to the already trained professional counselors in order to boost their efficiency of telepsychology skills. Again the onus falls on regulation bodies to ensure that such policies are inaugurated and practiced.
In view of the poor internet connectivity that majority of the counselors raised, the paper recommends that policy makers of counseling bodies liaison with network providers in alliance with government to negotiate a sustainable service provision, which ought to facilitate telepsychology. Such negotiations ought to include confidentiality and the cost of data tariff, bringing it to affordable rate. In this way, counselors will be attracted to integrate traditional counseling approaches with e-counseling in order to continue to be relevant to the populace that needs their services.
With the outbreak of COVID-19 pandemic, telepsychology swiftly became the sole option for many people in need of mental health services; hence counselors are compelled to embrace the paradigm shift. Although there are multiple challenges associated with telepsychology but such are not insurmountable. Consequently, the COVID-19 counselors are charged with the responsibility of integrating traditional counseling approaches with telepsychology in order to provide relevant services to the clients who need their services.
The authors declare no conflict of interest.
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