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Advances in Management
Research
Mathematical Engineering, Manufacturing, and Management Sciences
Series Editor: Mangey Ram, Professor, Assistant Dean (International Affairs),

Department of Mathematics, Graphic Era University, Dehradun, India
The aim of this new book series is to publish the research studies and articles that
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Advances in Management
Research
Innovation and Technology
Edited by
Avinash K. Shrivastava, Sudhir Rana, Amiya Kumar
Mohapatra, and Mangey Ram
CRC Press
Taylor & Francis Group
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Library of Congress Cataloging‑in‑Publication Data
Names: Shrivastava, Avinash K., editor. | Rana, Sudhir, editor. | Mohapatra, Amiya K.,
editor. | Ram, Mangey, editor.
Title: Advances in management research: innovation and technology / edited by Avinash
K. Shrivastava, Sudhir Rana, Amiya Kumar Mohapatra and Mangey Ram.
Description: Boca Raton, FL: CRC Press/Taylor & Francis Group, 2020. | Series:
Mathematical engineering, manufacturing, and management sciences | Includes
bibliographical references and index. | Summary: “This book covers advancements
across business domains in knowledge and informational management. It provides
research trends in the fields of management, innovation, and technology, and is
comprised of research papers that show applications of IT, analytics, business operations
in industry, and in educational Institutions”—Provided by publisher.
Identifiers: LCCN 2019032662 (print) | LCCN 2019032663 (ebook) |
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Visit the Taylor & Francis Web site at

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and the CRC Press Web site at
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Contents
Preface��ix
Editor Biographies��xi
Chapter 1 Impact of Credit Access on Economic Empowerment of

Married Women in Ethiopia�� 1
Manoj Kumar Mishra
Chapter 2 Relationship between Work–Life Balance and Job

Satisfaction of Reception and Concierge Employees in
Five-Star Hotels in Colombo�� 21
A. Chamaru De Alwis and Shavindri Lankeshni Samarasekera
Chapter 3 The Evolution of Digital Platforms�� 41

Aneesh Zutshi, Tahereh Nodehi, Antonio Grilo,
and Belma Rizvanović
Chapter 4 Impact of Exchange Rate Movements and World Output on

Indian Exports�� 51
Anisul M. Islam and Sudhir Rana
Chapter 5 Information and Communication Technology as a Contingent

Factor in India’s Economic Growth–Remittances Nexus�� 71
T. K. Jayaraman and Keshmeer Makun
Chapter 6 Effects of Capital Adequacy on Operational Efficiency of

Banks: Evidence from Bangladesh�� 91
Md. Nur Alam Siddik and Sajal Kabiraj
Chapter 7 Time and Frequency Analysis Using the ARMA Model:

Evidence from the Indian Stock Market�� 101
Nikita Chopra
Chapter 8 Behavioural Biases and Trading Volume: Empirical Evidence

from the Indian Stock Market�� 115
Sunaina Kanojia, Deepti Singh, and Ashutosh Goswami
v
vi Contents
Chapter 9 Leveraging Tacit Knowledge for Strategizing: Impact on

Long-Term Performance�� 127
Krishna Raj Bhandari and Sachin Kumar Raut
Chapter 10 Analysis of Investors’ Perceptions of Mutual Fund Investment

in the Context of the Delhi/NCR Region�� 139
Gurinder Singh, Vikas Garg, and Shalini Srivastav
Chapter 11 Measuring Customer Brand Equity and Loyalty: A Study

of Fuel Retail Outlets in Lucknow�� 149
Shubhendra Singh Parihar and Ankit Mehrotra
Chapter 12 Random Walk Hypothesis: Evidence from the Top 10

Stock Exchanges Using the Variance Ratio Test�� 161
Madhu Arora, Miklesh Prasad Yadav, and Smita Mishra
Chapter 13 Priority-Based Time Minimization Transportation

Problem with Flow and Mixed Constraints�� 171
Bindu Kaushal and Shalini Arora
Chapter 14 ASEAN and India: Exploring the Progress and Prospects

in Trade Relationship�� 187
R. K. Sudan
Chapter 15 Impact of Internationalization on Financial Performance:

A Study of Family and Non-Family Firms�� 195
Amit Kumar Singh, Amiya Kumar Mohapatra,
Varda Sardana, and Shubham Singhania
Chapter 16 The Role of a Responsible Global Citizen (Gitizen) in

the 21st Century�� 211
Robert Seinfield and Uchit Kapoor
Chapter 17 Small and Medium-Sized Enterprise Networks and

Their Contribution to Territorial Development�� 223
Amina Omrane
Chapter 18 Influence of Branding of Financial Instruments on

Investment Decisions: Mediating Role of Behavioral Biases�� 243
P. C. Sharma
Contents vii
Chapter 19 Proposed Model of Evaluating Entrepreneurial University

Ecosystems from a Talent Development Perspective�� 265
Belma Rizvanović, Aneesh Zutshi, Tahereh Nodehi
and Antonio Grilo
Chapter 20 Research and Innovation in Teaching Pedagogy for

Emerging Markets�� 279
Soma Arora
Index�� 291
Preface
By breaking down the walls in R&D, firms have radically changed the nature and
structure of products and services. Competitive forces have resulted in advance-
ments in the methods by which organizations generate and deploy new products/
services and processes. One of the major areas of emphasis in recent years has been
interdisciplinary research. Cross-disciplinary collaboration has become increas-
ingly prominent in not only transforming business models, but also paving the way
for organizational strategic decision makers to act in a timely manner. In today’s
connected world all stand to gain from continuing research that fosters industrial
practice, global outreach, and inclusive growth. Despite the growing recognition
of the importance of multidisciplinary research across industries and sectors and
the growing body of knowledge, there is limited synthesis of literature across the
management, social sciences, and research and technology disciplines. Technology
continues to change quickly, and companies are continuously investing in research
to present new technologies. Thus, the focus on research innovation by academicians
as well as practitioners. Therefore, it would be rational to explore advances that have
taken place in management research and technology that can be of direct use to
business organizations, practitioners, government policymakers, academicians, and
society at large.
This book is an endeavor to bring together diverse themes related to management
practices, innovation, and technological advancement to advance the existing body
of knowledge in both theoretical and managerial domains. The book act as acts as a
platform to better understand the interactions between innovation and research and
technology and the economy and society. The volume contains chapters on infor-
mation and communication technology, digital platforms, economic empowerment,
ASEAN, work–life balance, exchange rate movements, capital adequacy, time and
frequency analysis, brand equity, transportation problems, and responsible global
citizens from the scholars represented more than ten countries.
We are grateful to all the authors for strengthening this volume with their research
contributions and thankful for the reviewers for taking time from their busy sched-
ules and providing valuable feedback. We really hope this volume will be useful to
both academicians and practitioners and will act as a platform in providing informa-
tion on management research, innovation, and technology under one umbrella.
ix
Editor Biographies
Dr. Avinash K. Shrivastava completed his B.Sc (H) in mathematics and received
his Master’s, M.Phil, and Ph.D. degrees in operational research from the Department
of Operational Research, University of Delhi. Dr. Shrivastava is currently Assistant
Professor at the International Management Institute, Kolkata, West Bengal. He
teaches classes on various technical and management subjects, including business
statistics, business mathematics, advanced operations research, quantitative applica-
tions in management, operations management, business research methodology, and
multicriteria decision-making to undergraduate and postgraduate students. He has
presented papers at conferences of international repute and has also won accolades
for best paper presentation in the same. He has published extensively in high-indexed
international journals. He is the managing editor of the International Journal of
System Assurance Engineering and Management (IJSAEM) and guest editor of two
ABDC category journals. He is also a life member of the Society for Reliability,
Engineering, Quality and Operations Management (SREQOM). He is on the edito-
rial board and serves as reviewer of various international journals.
Dr. Sudhir Rana believes in driving and motivating academics and research in such
a way that it can be utilized in an enthusiastic and dynamic environment to foster
versatile personalities. He is a marketing area faculty. His teaching and research
interests include international marketing, business development sales and negotia-
tion, internationalization, and customer relationship management. He holds an MBA
and Ph.D. with MHRD Scholarship from the Government of India. His research
profile is followed by publications into ABDC/ABS/Scopus/Web of Sciences ranked
and indexed journals published by Emerald, Inderscience, Sage, and Neilson Journal
Publishing, etc. Dr. Rana is a versatile academician. He performs various roles as
guest faculty, scholar, editor, editorial board member, guest editor, author, guest
speaker/panel speaker/moderator, conference speaker/session chair/committee mem-
ber, convener, and workshop expert at various platforms in India and overseas. His
association with journals such as the Journal of International Business Education,
International Journal of Business and Globalisation, International Journal of
Indian Culture and Business Management, along with editorship in FIIB Business
Review always motivate him to ensure that quality research gets their best home.
Dr. Amiya Kumar Mohapatra is Associate Professor and Chairperson-IQAC at

Fortune Institute of International Business (FIIB), New Delhi. He holds a Ph.D. and
four Master’s degrees and has completed an FDP from IIM Indore. Dr. Mohapatra
has also qualified UGC-NET in three subjects (economics, management, and public
administration). He has been engaged in teaching as well as research in the areas
of economics, finance, and public policy. His main research focus in recent years
has been to explore economics from the policy perspective. He has co-authored
5 reference books and published in 21 edited volumes. He has published more than
75 research papers/articles in various indexed journals/magazines/books and has
xi
xii Editor Biographies
also presented his research work at IIM Ahmedabad, IIM Bangalore, IIM Indore,
IIT Delhi, Jawaharlal Nehru University, and Delhi University, to name a few. He is
also guest editor and editorial board member of many reputed national and interna-
tional journals. He has organized and led more than 20 national and international
conferences and seminars.
Dr. Mangey Ram received his Ph.D. with a major in mathematics and a minor
in computer science from G. B. Pant University of Agriculture and Technology,
Pantnagar, India. He is currently a professor at Graphic Era Deemed to be
University, Dehradun, India. He is Editor-in-Chief of the International Journal of
Mathematical, Engineering, and Management Sciences and the guest editor and
member of the editorial board of various journals. He is a regular reviewer for inter-
national journals, including IEEE, Elsevier, Springer, Emerald, John Wiley, Taylor
& Francis Group, and many other publishers. He has published 131 research publica-
tions in IEEE, Taylor & Francis, Springer, Elsevier, Emerald, World Scientific, and
many other national and international journals of repute and has also presented his
works at national and international conferences. His fields of research include reli-
ability theory and applied mathematics. Dr. Ram is a senior member of the IEEE; a
life member of the Operational Research Society of India, the Society for Reliability
Engineering, Quality and Operations Management in India, and the Indian Society of
Industrial and Applied Mathematics; and a member of the International Association
of Engineers in Hong Kong and Emerald Literati Network in the UK. He has been
a member of the organizing committee of a number of international and national
conferences, seminars, and workshops. He has been conferred with the “Young
Scientist Award” by the Uttarakhand State Council for Science and Technology,
Dehradun, in 2009. He received the “Best Faculty Award” in 2011 and recently the
“Research Excellence Award” in 2015 for his significant contributions in academics
and research at Graphic Era.
1 Impact of Credit
Access on Economic
Empowerment of
Married Women
in Ethiopia
Manoj Kumar Mishra
CONTENTS
1.1 Overview��2
1.1.1 Background��2
1.1.2 Problem Statement��2
1.1.3 Objectives of the Study�� 3
1.1.4 Scope and Limitation of the Study��3
1.1.5 Significance of the Study��4
1.1.6 Organization of the Chapter�� 4
1.2 Literature Review�� 4
1.2.1 Microfinance and Women’s Empowerment Globally��5
1.2.2 Microfinance and WEE in Africa�� 5
1.2.3 Microfinance and WEE in Ethiopia�� 6
1.3 Methodology, Data, and Model�� 7
1.3.1 Description of the Study Area�� 7
1.3.2 Background of ACSI��7
1.3.3 West Gojjam Zone��8
1.3.4 Jabi Tehinan Woreda/District��8
1.3.4.1 Sampling Techniques and Sample Size�� 9
1.3.5 Method of Data Analysis�� 10
1.3.5.1 Descriptive and Inferential Statistics�� 10
1.3.5.2 Econometric Model�� 10
1.3.5.3 Propensity Score Matching (PSM)�� 10
1.3.5.4 Description of Variables�� 12
1.4 Results and Discussion�� 13
1.4.1 Econometric Analysis�� 14
1.4.2 Factors Affecting Married Women’s Decision-Making�� 15
1.5 Conclusion and Suggestions�� 17
1
2 Advances in Management Research
1.5.1 Conclusion�� 17
1.5.2 Recommendation�� 17
References�� 17
1.1 OVERVIEW
1.1.1 Background
Ethiopia is the second most highly populated country in Africa after Nigeria.
Although it has the fastest-growing economy in the region, the annual per capita
income of Ethiopia is low, 691 USD, and 23.4% of the population was under the
poverty line in 2014/15(GTP 2 plan, 2016). To alleviate poverty through employment
creation, the government has encouraged domestic saving and private investment.
Moreover, increasing access to credit is important to overcoming poverty through
job creation and income generation among those who lack of access to credit and
other financial services (Derbew, 2015).
Monetary financial institutions (MFIs) give priority to rural poor women because
women with access to credit are more likely to increase spending to improve house-
hold welfare than men are (Narain, 2009). Women also are more credible in loan
repayment than men (Gobezie, 2010). Moreover, labor markets favor of men and
most of the productive resources are controlled by men, especially in developing
countries. The first mission of the Amhara Credit and Saving Institution (ACSI) is
to increase access to credit by poor people in order to improve their productivity and
income. ACSI gives special emphasis to women, as women are mostly marginalized
and have limited access to financial services (ACSI, 2017).
Women are important contributors to agricultural development and the rural
economy in Ethiopia. Women constitute 40% of the world labor force and 43% of
the agricultural labor force (Box, 2015). Women are involved in all farm activi-
ties in Ethiopia, from clearing of land to harvesting, processing, and marketing of
products. Women plant different crops, rear animals, and keep poultry near their
homes. In other words, women undertake multiple responsibilities in Ethiopia,
working outside the home on farmlands and on non-farm activities as equal as
their male counterparts. Women are also involved in activates that men are hardly
involved in in Ethiopia, such preparing and providing food to maintain family
welfare and, of course, giving birth to children (Fabiyi, Danladi, Akande, &
Mahmood, 2007). Just as a bird cannot fly with a single wing, countries that do not
include women in their economic, social, and political agendas will be unable to
achieve sustainable development.
1.1.2 Problem Statement

Women are the backbone of rural agriculture and the national economy in Ethiopia.
They constitute over 50% of the total population in Ethiopia (Tegegne, 2012). To
reduce poverty and achieve sustainable development, empowering women is essen-
tial. Women’s economic empowerment (WEE) is one of the most important factors
Impact of Credit Access on Empowerment of Women in Ethiopia 3
contributing to equality between women and men. A specific focus on women is nec-
essary given that women are a majority among economically disadvantaged groups.
Therefore, WEE is a priority in promoting gender equality and so as to bring sustain-
able development (Bayeh, 2016).
In particular, married women have less control over household resources and poor
access to productive resources than single women, which hinders their movement
towards economic empowerment (Tekaye & Yousuf, 2014).
In rural areas, many women do not have their own land or access to credit and
usually engage in day labor. Due to a lack of working capital, women and men
do not have equal opportunities to participate in income-generating activities.
Women who lack access to credit and capital are more impoverished and have
lower quality of life than women who have sufficient access to capital and own
land (Tadesse, 2014).
Previous studies have indicated that MFIs have a greater impact on WEE
(Eshetu, 2011; Tekaye & Yousuf, 2014) through their effect on women’s income,
saving, and decision-making. Researchers have also assessed the association
between access to microfinance and WEE. However, studies evaluating the impact
of credit specifically on married WEE in West Gojjam are limited. These studies
could not separately show the contribution of credit access to women’s income
and income earned by other family members. Earlier studies considered house-
hold income as an indicator of WEE. Therefore, this study was initiated to fill
this research gap by examining the impact ACSI credit access on the economic
empowerment of married women, as decisions of married women are more influ-
enced by men than other women and girls. This study also measured additional
married women decision-making indicators. This study applied the propensity
score matching (PSM) technique to estimate the effect of microcredit access on
married WEE in Jabi Tehinan Woreda located in West Gojjam Zone of Amhara
Region, Ethiopia.
1.1.3 Objectives of the Study

The main objective of this study was to assess the impact of microcredit access on
married WEE. The specific objectives of the study were:
1. To estimate the impact of credit access on the saving of married women

2. To estimate the impact of credit access on increasing the income of married
women
3. To identify determinants of married women’s participation in the decision-
making process
1.1.4 Scope and Limitation of the Study

Women’s empowerment has many dimensions (i.e. political, sociocultural, eco-
nomic, etc.), but this research addressed only economic empowerment of married
women. ACSI provides financial services in both rural and urban areas, but this
study focused on the impact of credit access on rural married women. The study was
conducted on married women who are clients and non-clients to ACSI in Amhara
regional state, specifically in Jabi Tehinan Woreda.
1.1.5 Significance of the Study

The pace of growth and development increases with the equal participation and
mobilization of men and women and by deploying their human talents, knowledge,
and skills effectively. However, getting women to participate in social, economic,
and political processes is problematic in the case of Ethiopia. Empowering women
in all development aspects paves the way towards sustainable development. Thus,
increasing women’s access to microcredit is among the policy tools in Ethiopia that
can be used to empower women economically. The findings of this study will inform
policymakers, politicians, and the government as a whole as to what the next task
will be to empower rural women and suggest possible interventions to addresses
limitations of empowering women through increasing their access to microcredit in
Ethiopia, particularly in Amhara regional state.
1.1.6 Organization of the Chapter

This chapter has been organized into five sections. The first section presents an over-
view that presents the background of the study, statement of the problem, objective
of the study, scope and limitation, and significance of the study. The second section
reviews the theoretical and empirical literatures that are related to the impact of credit
on WEE. The third section presents the methodology of the study, with emphasis on
description of the study area, sampling design, and data analysis techniques. The
fourth section presents the results and discussion. The last section presents and sum-
marizes the main findings of the study and offers policy recommendations.
1.2 LITERATURE REVIEW

The history of microfinance is related with Grameen Bank, which was located in
Bangladesh. The founder of this bank was Professor Mohammed Yunus. In 1976
he began to lend small amounts of money to poor households, who were organized
into small peer-monitoring groups, and many of them poor women’s groups, in a few
nearby villages. These groups were effective and the demand for credit increased.
Then in 1984 Grameen Bank become a government-regulated bank. Innovation in
microfinancial services based on the bank’s credit peer-monitoring model targeted
at poor women has been a focus in the developing world. The 1990s was a period of
rapid expansion of access to microcredit (Hulme & Moore, 2007). In 2006, Yunus
and Grameen Bank were honored with the Nobel Prize, in recognition of Yunus’s
revolutionary social work and long-term vision of eliminating world poverty (Atikus,
2014).
Hulme and Moore (2007) found that most MFIs provide financial services to poor
women, rather than poor men, because women have better repayment and success
rates. Credit can empower women economically; enhance their ability to invest in
productive human and physical capital; smooth consumption; improve the health,
nutrition, and educational status of their families and in particular their children.
Therefore, women’s participation in microfinance has been considered instrumental
for women’s socioeconomic wellbeing and their families.
1.2.1 Microfinance and Women’s Empowerment Globally

A study conducted by Syeda (2014) in Pakistan on the impact of microfinance
on women’s economic, familial, political, and social empowerment revealed that
increasing financial services for women enhances their status of living; improves
their self-confidence; and increases their control over resources; they are able to
earn a livelihood for themselves and for their families and live lives of dignity and
respect. Phyu (2012) used the breakdown position of women in the Nash bargaining
solution as a framework for investigating the effects of microfinance on WEE in
Myanmar. He analyzed the result by using PSM to solve the problem of selection bias
and logistic regression method of analysis. He determined that the respondent’s age,
partner’s education, partner’s age, and family size do not affect women’s decision-
making. However, increasing household income has a negative effect on the women’s
decision-making in the household; in this study, 10% of respondents were depen-
dent and they had to take the loan for the spouse’s business to increase household
income. Finally, the result confirmed that microfinance had a positive and significant
effect in explaining women’s independence in household decision-making, which
was expressed in child-related decisions, household item decisions, and non-food
item expenditures.
Swin and Wallentin (2009) also investigated the relationship between WEE and
microfinance services. They used a general structural model and robust maximum
likelihood to analyze the impact. They used empowerment as the latent variable. The
researchers noted that WEE will only be achieved when women challenge existing
deep-rooted factors. Finally, they concluded that microfinance services had a posi-
tive impact for the change of these factors and WEE.
Ringkvist (2013) investigated the empowerment of women through microfinance
using decision-making power as an indicator of empowerment. Ringkvist used a
multivariate regression technique and index-based approach to measure empower-
ment. The results confirmed that member women were more empowered than non-
members. Factors such as being a client of a microfinance programme, food security,
and being head of household were found to have a significant and positive effect on
empowerment of women. On the other hand, age, total loan amount, length of edu-
cation, and length of years as a microfinance member had no significant effect on
empowerment of women.
1.2.2 Microfinance and WEE in Africa

The expansion of credit programmes in Africa dates back to the mid-1980s, but it
increased dramatically in the late 1990s with the establishment of saving clubs and
credit unions for women in Africa (Mayoux, 1999). Researchers have assessed the
impact of microfinance on WEE in different African countries.
Jebili and Bauwin (2015) studied WEE through microfinance in Tunisia by exam-
ining the business development process of men and women. They found that even
when women start their own businesses they still have to shoulder the same domestic
responsibilities, which could imply for them an even greater workload and perhaps
domestic conflict. Participating in income-generating activities could even result in
an increase of women’s dependency towards men. Women have very little control
over resources.
A study by Van et al. (2012) in sub-Saharan Africa found some evidence of micro-
credit empowering women. Findings from Zimbabwe found no indication that par-
ticipation in microfinance led to greater control over the earnings from the business;
for both married men and women, there was more consultation and joint decision-
making with the partner. On the other hand, rural microcredit programmes had a
greater impact on financial management skill, owning a bank account, taking pride
in contributing to household income, and gaining ownership of some selected house-
hold assets. When we see the overall financial inclusion of Africa, South Africa and
Rwanda lead first and second respectively (Atikus, 2014).
1.2.3 Microfinance and WEE in Ethiopia

Most of the studies in Ethiopia have confirmed that MFIs have a positive impact on
the economic empowerment of women; that is, the level of economic empowerment
of clients is higher than for non-clients. According to Tekaye and Yousuf (2014),
education level, experience in income-generating activities, and skill exposure have
a positive and significant relationship with WEE. In contrast, the dependency ratio,
time spent on household work, marital status, and diversification of loan use have a
significant negative relationship with WEE.
Eshetu (2011) studied the impact of microfinance on WEE using cross-sectional
data and a binomial logit method of analysis. She used economic decision-making
power on large sales as an indicator of economic empowerment. The result of this
study revealed that mature clients have improved access and control over assets,
improved income, better asset possession, and that 50% of mature clients had per-
sonal cash savings. But the coefficient of income, savings, and asset possession
were insignificant when used to determine decision-making on large sales. This is
because unless the women themselves controlled and made decisions on the resource
they generated, improvement on the above three variables by itself was not a sign of
WEE. She also noted that married women clients had less decision-making influence
on household large sales than widowed and divorced women, and she concluded that
mature clients did not make decisions on large sales.
However, a study conducted using similar empowerment indicators and methods
of analysis by Taye (2014) found that the relative high age of respondents, education,
being a microfinance client, household income, and personal cash savings were posi-
tively related with the empowerment of women and that these variables were signifi-
cant. In contrast to Eshetu’s conclusion, he argued that mature microfinance clients
were able to make decisions by themselves on large sales such as oxen, sheep, goats,
cows, etc. He also explained that microfinance has had a great role in expansion of
business and income of women, respect for women’s rights, reduction in HIV infec-
tion, positive change on gender roles, investment of extra income on children, and
providing a route to sustainable development. Based on the evidence, he concluded
that microfinance has a positive impact on WEE.
Researchers have employed different dimensions to measure women’s empow-
erment. Ahmed (2013) used economic empowerment, personal empowerment,
household (family) empowerment, and political empowerment as measurements
of empowerment. He used binary logit model and PSM to analyze the results.
Explanatory variables such as the respondent’s age, education status, marital sta-
tus, duration as microfinance client, age at marriage, and non-formal education
positively and significantly affect cumulative women’s empowerment. He confirmed
that microfinance had a positive effect on all of the empowerment indicators, as
evidenced by the fact that microfinance clients were 33% more empowered than
non-clients. Variables that negatively affected the empowerment of women included
religion, access to media, and marriage. Because of their religious rules, Muslim
women cannot participate in microfinance programmes. Married women also have
less power in household decision-making and are less mobile.
In areas that are prone to war, drought, and other natural disasters like the Tigray
region, MFIs have great role in alleviating poverty. Women are more severely affected
by such difficulties, because more of the burden and responsibility is on their shoul-
ders. Therefore, empowering women economically is a top priority, and financial ser-
vices are one way of reducing poverty from the family to the society level. Meron and
Samson (2015) found that MFIs are performing the lion’s share in poverty reduction
and WEE. They found that factors such as family size, being a participant of a house-
hold, and engagement in livestock production are positively related and significant to
the sale of agricultural byproduct and positively related to economic empowerment.
1.3 METHODOLOGY, DATA, AND MODEL

1.3.1 Description of the Study Area
Amhara regional state is located in northwestern Ethiopia and is one of nine regional
states of Ethiopia. It is sub-divided into 11 zones, 140 woredas, and about 3,429 kebeles,
which is the smallest administrative unit. Based on a census conducted by the central
statistics agency in 2007, the total population was 17,221,976. From the total population,
12.27% are urban inhabitants. The ethnic group breakdown is 91.2% Amhara, 3.46%
Agaw/Awi, 2.62% Oromo, 1.39% Agaw/Kamyr, and 0.41% Argoba (CSA, 2013).
1.3.2 Background of ACSI

ACSI has been increasing its reach and improving its financial services and activities.
Based on a 2017 institutional report, it has around 1,375,413 clients (63.4% female) in
the region and 445 branches and 1,259 satellite offices. It has also outstanding loan
birr 13,645,553,507; total net savers 8,173,202 (46.5% are women), total net saving
birr 12,295,727,459.39 (26.56% women’s saving).
Financial services include saving, insurance, credit, cash transfer, payment, and
other services. It offers services for urban and rural peoples, with special attention
given to rural agricultural communities. It supports rural agricultural productiv-
ity by providing loans for new technologies and inputs of agriculture and seeks to
reduce urban youth unemployment by offering loans for starting capital.
1.3.3 West Gojjam Zone

West Gojjam zone is located in the Amhara region of Ethiopia. It is bordered
on the south by the Abay River, which separates it from the Oromia region
and Benishangul-Gumuz; on the west by Agewawi; on the northwest by North
Gondar; on the north by Lake Tana and the Abay River, which separates it from
the South Gondar; and on the east by East Gojjam. Finote Selam is the capital
of this zone.
1.3.4 Jabi Tehinan Woreda/District

Jabi Tehinan woreda is bounded by Burieworeda in the west, Dembecha woreda in
the east, Sekela and Quarite woreda in the north, and Dembecha and Burie woreda
in the south. The average temperature is 23° Celsius.
FIGURE 1.1 Map of Jabi Tehinan Woreda.

Source: Jabi Tehinan Woreda Finance and Economic Office, 2018.
Based on Jabi Tehinan woreda administration information from 2016, the popu-
lation of the area is as follows: male = 107,511, female = 110,935, total = 218,446
(50.78% female). From the total population, 16.4% live in urban areas and 83.5% live
in rural areas. Of the population living in urban and rural areas, 56.4% and 49.02%
are female, respectively.
Agriculture is the main source of income of Jabi Tehinan woreda, with around
84% of the population engaged in agriculture. The woreda is known for different
types of crops, including teff, maize, sorghum, bean, and others. It also known for
cultivation of fruits and vegetables such as mango, papaya, avocado, carrot, redroot,
sugarcane, etc.
1.3.4.1 Sampling Techniques and Sample Size

To select sample respondents from the study area, a two-stage random sampling
procedure was conducted. First, out of a total 38 rural kebeles (i.e. the lowest admin-
istrative unit in Ethiopia), 5 kebeles (Abasem Zegwi, Hodansh Gategon, Arebayitu
Ensisa, and Awunt Month) were randomly selected. The total target household size
from these five kebeles was 2,172 (223 married women are clients and 1,949 are
non-clients). Second, the sample sizes of rural households were selected based on the
total household size of each kebele. The list of clients and non-clients was obtained
from the same selected rural kebeles.
To decide on the sample size, we had to determine the desired level of precision,
or sample error; confidence interval; and degree of variability. The formula devel-
oped by Kothari (2004) to determine the sample size for a finite population was used
for this study:
z2 * p * q * N
n=
e2 ( N − 1) + z 2 * p * q
where n = sample size; z = standard normal variable at the required confidence level,
1.96 (from table); p = estimated characteristics or proportion of the target population,
0.8; q = 1 − p, or 0.2; N = population size, 2,172 (more homogeneous or less variable
population; i.e., all women’s were married, living in rural areas, and in the similar
agroecology); e = margin of error, 0.05 for 95% level of confidence. The sample size
was calculated to be:
2172 * 0.8*0.2*1.96 2
n= = 233
( 0.05) ( 2172 − 1) + 1.962 2 * 0.2 * 0.8
2
Therefore, the total sample size was 233 (133 non-clients and 100 clients), which was
selected from each kebele by a simple random sampling method based on household
size. For focus group discussion, one group was selected randomly from each kebele
to collect information about the general ACSI service delivery system and overall
WEE information. One group had seven married women, four non-clients and three
clients. In addition, interviews were conduct with husbands of ACSI clients by select-
ing two men from each kebele and two ACSI officers to take information about
the loan use and management in the household and the institution’s efforts towards
WEE. Total sample size (i.e., calculated sample size = 233; focus group = 35; and key
informant interview with husbands of clients = 10) was 278.
1.3.5 Method of Data Analysis

1.3.5.1 Descriptive and Inferential Statistics
The descriptive analysis focused on description of both dependent and indepen-
dent variables analyzed by percentage, mean, standard deviation, diagram, and
frequency distribution. The statistical significance of the categorical and contin-
uous explanatory variables was tested by chi-square test and t-test respectively.
The statistical significance of the outcome variables was also checked by t-test
and chi-square test.
1.3.5.2 Econometric Model

Different econometric tests were applied to examine model fitness, multicollinear-
ity, and heteroscedasticity. The link test suggested by Pregibon (1980) was applied
for the specification of independent variables. The omission of variables may also
introduce an error. Therefore, the Ramsey RESET test or ovtest command was
used to look for the symptoms of omitted variables, such as unusually large or
small coefficients that have an incorrect sign (Wooldridge, 2015). Multicollinearity
refers to the existence of a perfect or exact linear relationship among explanatory
variables in regression models. Two measures were applied to test the presence of
multicollinearity.
1.3.5.3 Propensity Score Matching (PSM)

In this research, married women who are clients of ACSI or those who are taking
credit from ACSI were the treatment group and non-clients were the control group.
To investigate the impact of ACSI credit on client married WEE, it is essential to
be able to compare the two groups. The treatment effect for an individual i can be
written as:
τi = Yi (1) − Yi ( 0 ) (1.1)
where:
Yi(1) = outcome of treatment (economic empowerment of ith woman when she
is client)
Yi(0) = outcome of untreated individual (economic empowerment of ith woman
when she is non-client
τi = change in outcome because of treatment
The fundamental evaluation seeks to estimate the mean impact of the programme,
obtained by averaging the impact across all the individuals in the population. This
parameter is known as the average treatment effect (ATE), which is the effect of
treatment on WEE:
ATE = E (τ i ) = E (Y 1− Y 0 ) (1.2)
where E(.) represents the average or expected value.

The ATE of an individual i can be written as:
ATE = E (Yi (1) /D = 1) − E (Yi ( o ) /D = 0 ) (1.3)
where:
E (Yi(1)/D = 1): Average outcome for treated individual woman who is client of
ACSI
E (Yi(o)/D = 0): Average outcome for untreated individual woman who is non-
client
Another quantity of interest is the average treatment effect on those treated, which
measures the impact of the programme on those individuals who participated:
ATT = E (Y 1 − Y 0/D = 1)
(1.4)
= E (Y 1/D = 1) − E (Y 0/D = 1)
The second term, E (Y0/D = 1), is the average outcome that the treated individuals
would have obtained in the absence of treatment, which is not observed, but we can
observe the term E (Y0/D = 0).
∆ = E (Y 1/D = 1) – E (Y 0/D = 0 )
= E (Y 1/D = 1) – E (Y 0/D = 1) + E (Y 0/D = 1) – E (Y 0/D = 0 )
(1.5)
= ATT + E (Y 0/D = 1) – E (Y 0/D = 0 )
= ATT + SB
Where SB = selection bias, the difference between the counterfactual for treated
individuals and the observed outcome for the untreated individuals. If SB = 0, then
ATT can be estimated by the difference between the mean observed outcomes for
treated and untreated.
ATE = E (Y /D = 1) − E (Y /D = 0 )
1.3.5.4 Description of Variables
TABLE 1.1
Summary of Variables and Expected Signs
No. Name of Symbol Dependent/ Variable Type Measurement Expected
Variable Independent sign
1 Credit treat Dependent/ Dummy 1 if woman +
participation independent participated;
0 otherwise
2 Amount of tasav Outcome Continuous ETB
saving Dependent
3 Income totaloi Outcome Continuous ETB
Dependent
4 Decision Outcome Dummy 1 if woman
making Dependent can
participate;
0 otherwise
5 Age of age Independent Continuous Year +
woman
6 Education educs Independent Dummy 1 if literate; 0 +
level of if illiterate
woman
7 Family size fs Independent Continuous Number +
8. Dependency dr Independent Continuous Number -
ratio
9 Animal afra Independent Dummy 1 if woman +
fattening and participated;
rearing 0 otherwise
activity
10 Infrastructure infra Independent Dummy 1 if woman +
had access to
infrastructure;
0 otherwise
11 Land size lands Independent Continuous Land size +
measured in
hectare
12 Distance to dturban Independent Dummy 1 if walking +
urban center distance is
less than 2
hrs; 0
otherwise
13 Husband’s educD Independent Dummy 1 if literate; +
education 0 otherwise
Source: Own expectation with review literature.

A. Binary Logit Model
TABLE 1.2
Decision-Making Power Indicators
No. Decision-Making Indicator Symbol Type of Measurement
Variable
1 Control over large household assets CoaD Dependent 1 if she participates in
(Dummy) decision; 0 otherwise
2 Decision on self-free movement DSFM Dependent 1 if she participates in
3 Decision on use of family planning DUFP Dependent 1 if she participates in
4 Decision to visit and support relatives DTVSR Dependent 1 if she participates in
5 Decision to the type of crops to be planted DTBSF Dependent 1 if she participates in
6 Decision to buy quality seed and fertilizer DTBSF Dependent 1 if she participates in
7 Decision to participate in business activity DTINCG Dependent 1 if she participates in
1.4 RESULTS AND DISCUSSION

This section presents the findings of the study in line with the specific objectives;
that is, the impact of credit access on married women’s income and saving and their
decision-making power.
As presented in Table 1.3 the total household size of randomly selected kebeles
from Jabi Tehinan woreda was 2,172. From these, 100 married women who were ACSI
clients or credit users and 133 married non-client women were randomly selected and
interviewed. The clients and non-clients selected from each selected kebele are pro-
portional to the size of households in each kebele. Additionally, supportive data was
collected from two ACSI officers and 10 husbands of clients through key informant
interviews.
Household decisions and discussions are important for managing and improv-
ing the family’s living standard. The head of the household or the person who takes
responsibility for the household may lead this activity. The results in Table 1.4 show
that client decision-making power is greater than that of non-clients except for mar-
ried women control over large household assets. A significant difference was found
on decision-making power between clients and non-clients at the 1% significance
level. However, the decision-making power of clients on large household assets is not
significantly different from that of non-clients.
TABLE 1.3
Total Population and Sample Respondents by Selected Kebeles
Kebele Kebele Total Household Sample Respondents
Code Size Client Non-client
1 Awunt Month 456 21 28
2 Hodansh Gategone 478 22 29
3 Jiga Yelmidar 478 22 29
4 Arbayitu Ensisa 391 18 24
5 Abasem Zegaye 369 17 23
Total 2,172 100 133
Source: Finote Selam branch of ACSI office.
TABLE 1.4
Decision-Making Power of Married Women
Activities Who Makes Decision? Chi-
Respondent Jointly Husband square
Non- Client Non- Client Non- Clients

client client client
Who decides when you want to 7 16 49 49 77 25 ***
engage in income-generating
activity?
Who decides when you want to 6 24 74 51 53 25 ***
freely move outside the house?
Who decides on use of family 14 52 95 45 24 3 ***
planning services?
Who decides to visit and 13 21 76 67 44 12 ***
support relatives and parents?
Who decides the type of crops 3 5 30 42 99 53 ***
to be planted on farm fields?
Who decides to buy quality 3 6 18 37 112 57 ***
seed and fertilizer?
Who controls large household 0 1 90 70 43 29 0.41
assets?
Source: Survey data.

*** 1% significance level
1.4.1 Econometric Analysis
A. Determining Common Support Region
The common support graph on Figure 1.2 shows the estimated propensity scores for
clients and non-clients of ACSI. The upper half of the graph (i.e., red) shows treated
on support or the propensity score distribution for credit users fall in common
TABLE 1.5
Logistic Regression Results
ACSI Participation (Treat) Coef. Std. Err. Z
Age 0.057** 0.0261 2.19
Infrastructure −0.110 0.137 −0.8
Distance to urban −0.625** 0.264 −2.36
Animal rearing and fattening activity 0.937*** 0.319 2.94
Education status of women 1.302*** 0.362 3.59
Land size −0.289 0.273 −1.06
Dependency ratio 1.714 1.108 1.55
Family size 0.375*** 0.113 3.3
Education status of husband 0.186 0.188 0.1
_cons −4.325 1.403 −3.08
Number of observations = 233
Prob. > Chi-squared = 0.000
Pseudo R2 = 0.2007

*** 1% and ** 5% level of significance.
FIGURE 1.2 Common support graph.

support region while the lower half of the graph (i.e., blue) shows that the pro-
pensity score distribution for non-clients of ACSI fall within the common support
region. The green-colored region represents the propensity score distribution of
clients who did not match; that is, the participant groups that do not have appropri-
ate comparison.
1.4.2 Factors Affecting Married Women’s Decision-Making

The result of the logit model shows that access to credit was likely to increase
women’s decision-making measured as decision to self-free movement outside their
TABLE 1.6
Factors Affecting the Decision-Making Power of Married Women
Decision-Making Power Indicators
Variables Coah DSFM DUFP DTVSRP DFTCP DTBSF DINCG
age 0.205 0.97 0.006 −0.022 −0.007 0.013 0.032
(0.04) ***
treat −0.21 3.1 2.61 1.56 0.96 1.37 1.36
(0.23) *** (0.14)*** (0.24)*** (0.2)*** (0.23)*** (0.32)***
infra −0.385 1.37 −0.359 −0.163 −0.35 −0.499 0.76
(0.18)*
dturban −0.296 0.553 −1.92 −0.81 0.13 0.087 0.377
(−0.12)* (0.13)*** (−0.13)**
afra −0.073 1.34 −0.358 −0.14 0.059 −0.130 0.068
educs 0.73 0.678 0.288 0.064 −0.04 −0.148 −1.14
(0.14)**
lands −0.467 1.643 0.163 −0.09 −0.22 −0.031 0.26
(0.12)*
dr 1.22 −0.662 0.065 −0.25 −0.97 −0.902 1.65
fs −0.31 −0.012 0.964 0.023 −0.1 0.044 −0.09
(−0.06)**
Constant −4.79 3.1 0.84 2.067 0.16 −1.49 0.11
No. of obs. 233 233 233 233 233 233 233
LR chi2(10) 60.94 20.8 33.87 22.3 14.07 24.59 35.64
Prob > chi2 0.00 0.02 0.002 0.013 0.04 0.006 0.00
Pseudo R2 0.204 0.07 0.208 0.088 0.05 0.091 0.112

Values in the brackets are marginal effects and others are coefficients *** 1%, ** 5%, and * 10% signifi-
cance level.
home, use of family planning, visit and support of relatives and parents, type of crop
to be planted, seed and fertilizer, and participate in business activities. It is signifi-
cant at the 1% significance level and has a positive relationship with decision-making
indicators. Access to credit did not have significant effect on married women’s con-
trol over large household assets. This result was consistent with findings of Eshetu
(2011) in Ethiopia.
As shown on Table 1.6, the result of marginal effect revealed that married women
who were clients had a 23% chance of making the decision for self-free movement
outside their home; 32% chance to make the decision to participate in their own
business activities; 24% chance of making the decision to visit and support relatives
and parents; 20% chance of making decision on type of crop to be planted; and 23%
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manufacture of gas, and from 12,000,000 to 15,000,000 pounds
sterling expended in its production. In London alone 500,000 tons
of coals are annually used, producing 4,500,000,000 cubic feet of
gas, and 500,000 chaldrons of coke; of the latter, 125,000 chaldrons
are consumed in manufacturing the gas, and the remainder sold for
fuel. Upwards of half-a-million houses in London burn gas, and the
length of the main arteries for conveying it is 1,600 miles. The capital
employed in the metropolis is 4,000,000l. The manufacture of coal-
gas for the purpose of illumination affords one of the most striking
instances of the triumphs of science when enlisted in the divine
cause of civilization. Looking at it as a whole, and regarding the
ingenuity evinced in the construction of apparatus, the chemical skill
and beauty displayed in the process, and the very valuable purposes
to which it is applied, it forms one of the most beautiful, curious, and
useful of our manufactures; and probably there is no subject of a
manufacturing character in the present day which more engages
public attention, coal-gas having now become not a mere luxury, or
even convenience, but an absolute necessary. In the words of my late
colleague and friend, Dr. Hofmann, ‘The extent to which the use of
gas has affected the arts and manufactures in this country, can only
be conceived by those who are aware of its innumerable applications
in the double capacity of giving light and heat. To our experimental
chemists the benefits afforded by gas cannot be overrated, more
especially in England, where the price of spirits of wine is so
exorbitant. But for the use of gas in the laboratory, the progress of
chemistry in this country must have been greatly retarded.’
“In speaking of the general influence of the manufacture of coal-
gas, it is impossible to leave unnoticed the number of hands daily
engaged in raising whole strata of coal, in loading and navigating the
fleets employed in conveying it, not only to the different parts of this
kingdom, but to foreign countries, which consume a larger quantity
of English coal for the production than is generally known. The
extension of the gas enterprise produced a sensible effect on the
ironworks, by the vast number of retorts, the stupendous gas-
holders, and endless pipes required for generating, storing, and
conveying it.
“Several other branches of trade were also forced into increased
activity, and even new trades sprung up in consequence of the
extended use of gas. The substances produced in the purification of
gas naturally attracted the attention of the gas manufacturer; and
chemistry soon pointed out valuable purposes to which they might
be applied. The oily matter, which separates as a secondary product
in the distillation of coal, yielded, when purified in its more volatile
portion, the most convenient solvent for caoutchouc; another part of
it was found to be an efficient preservative of timber, and the pitchy
residue formed the chief ingredient of an excellent substitute for the
flag stones of our pavements; while the ammoniacal liquors were
found useful in improving the fertility of land. Thus, after the lapse of
countless ages, was the nitrogen of petrified fern forests resuscitated
in the ammoniacal liquors of the gas-works, to vegetate once more
and increase the produce of our corn fields.”
SIR HUMPHREY DAVY’S LAMP, AND MINER AT WORK.
“All nature feels the secret power,

And through eternal change obeys
Up from the deepest region creeps
The trace of life of former days.”
Faust.
CHAPTER VII.
SECONDARY FORMATIONS.
No. 1. The New Red Sandstone.
“There is a path which no fowl knoweth, and which the vulture’s eye hath not
seen; the lions’ whelps have not trodden it, nor the fierce lion passed by
it.”—Job.
We now take our leave of the Palæozoic period, and enter upon the
investigation of other and more recent geological epochs in the
history of the crust of our planet. This division is known by the
names Secondary or Mesozoic,[64] and is inclusive of the New Red
Sandstone, Oolitic, Wealden, and Cretaceous groups. If, in our
previous survey, we have had our minds filled with wonder as we
looked at the disinterred relics of past creations, and have gazed at
these fossil forms of ancient life with almost a loving interest in their
still remaining beauty; so, as we now study higher types of life, and
behold how “other wonders rise, and seize the soul the prisoner of
amaze,” we shall find reason upon reason for the penetration of our
minds with the profoundest adoration of Deity. No man turning up a
tumulus, and there finding coins, weapons, beads, vases, or other
such historical relics, would venture to say such things were created
there; on the contrary, he would acknowledge that they were Roman,
and that he had come to that conclusion by perceiving their
resemblance to other and similar ancient Roman relics, discovered
where there could be no doubt of their origin and history. Or if a
traveller were to visit the cities of Herculaneum and Pompeii, and
there find buried beneath the overwhelming torrent of once burning
lava, all possible kinds of human memorials, not only in human
works, but also in the skeleton remains of human beings, would he
not come to the conclusion that these were indubitable evidences of
those cities having once been inhabited by man, and that these
skeletons were once covered with warm flesh, and that they had
lived, and moved, and had their being, even as we do now, amidst the
activities and enjoyments of actual life? We apply this to geology.
There are persons who never judge by evidence, (though what else
have we to judge by?) but rashly jump to conclusions about
geological facts, that have not a particle of common sense to sustain
them. They never think that every rounded pebble they meet with
has been so rounded by the action of water; they imagine sand to
have been created as sand, instead of taking the geologist’s proof,
that all sand has been produced by the action of moving water on
solid rock. They believe that fossils were created, and that God put
encrinital remains, and dead ammonites, and bones of saurians, and
teeth and bones of great mammals, in the earth, just as we find them
in the cliffs and caves of this and every country; and they imagine
that thus to account for the wonders of creation redounds to the
glory of that God whom thus they ignorantly worship. Even our great
publishing society in Paternoster Row,[65] that has published about
everything in natural history but geology, has acknowledged to me
that it declines to undertake a work on this science, because of the
theological difficulties connected with the subject. Why, what is this
but the very way to breed infidelity? The man who studies nature and
who studies his Bible, is not ashamed to say he believes them both;
though two books, they are both given by inspiration of God. Man
may be a liar, but neither nature nor the Bible can lie; and while one
tells us the history of man, the other reveals to us the history of the
creation, and succession of those beings which preceded the advent
of man.
We now come to the New Red Sandstone, which must occupy our
attention both on account of the unique fossil remains found in it,
and also on account of its economic use and value in commerce. Few
formations, small as it is, possess so many points of interest to the
beginner as the new red sandstone; for, lying just above the
carboniferous, and between it and the oolitic group, we find in it
certain curiosities of very olden time, that are full of marvellous
power to fill us with amaze. Every one remembers Robinson Crusoe’s
surprise at finding “the print of a man’s naked foot on the shore,
which was very plain to be seen in the sand,” and how he “stood like
one thunder-struck, or as if he had seen an apparition;” and then
how he “went again to see if it might not be his fancy, but there was
no room for that, for there was exactly the very print of a foot, toes,
heel, and every part of a foot;” and then how, after “innumerable
fluttering thoughts, and out of himself,” he went home terrified to his
fortification.
Equally surprising are the discoveries made in the old red
sandstone. Large slabs of this rock have been discovered in England,
in Scotland, and in the United States, on which are left, as Robinson
left the impression of his foot, the undisturbed footmarks of pre-
Adamite animals; the ebb and flow of the tide of those distant ages;
the ripple-mark showing the direction of the wind; and casts of the
rainprints made by showers, long long ages ere man had taken
possession of the “deep places of the earth.” “Romantic nonsense!”
says a grave friend; “let us go to something practical, instead of
losing ourselves in such idle speculations.” Now, you are just the
person whose ear we want to catch; and to you we say, just listen to
the evidence of these assertions. “The casts of rainprints below
project from the under side of two layers; the one a sandy shale, and
the other a sandstone presenting a warty or a blistered surface, and
affording evidence of cracks formed by the shrinkage of subjacent
clay on which rain had fallen. The great humidity of the climate of
the coal period had been previously inferred from the nature of its
vegetation, and the continuity of its forests for hundreds of miles;
but it is satisfactory to have at length obtained such positive proofs of
showers of rain, the drops of which resembled in their average size
those which now fall from the clouds. From such data we may
presume that the atmosphere of the carboniferous period
corresponded in density with that now investing the globe and that
different currents of air varied then as now in temperature, so as to
give rise, by their mixture, to the condensation of aqueous
vapour.”[66]
CASTS OF RAIN-PRINTS.
Again, let us hear the words of Professor Ansted. “It may appear at
first sight that nothing can be more fleeting, or less likely to be
handed down to future ages, among the fossils of a bed of sandstone,
than the casts of the impressions of the footsteps of an animal, which
by chance may have walked over that bed when it existed in the
condition of loose sand forming a seashore. A little consideration,
however, will show that it is in fact a very possible occurrence, as, if
the wet sand should be immediately covered up with a thin coating of
marl, and another layer of sand be superimposed, such an
impression will be permanently preserved. In after ages, also, when
the soft sands have become sandstones, and are elevated above their
former level, the stones split asunder wherever a layer of different
material occurs; and thus it happens that the casts of the footsteps
may be preserved and exhibited, although all other traces of the
former existence of the animal have been lost.”[67]
FOOTPRINTS OF A TRYDACTYLE
BIRD, AND IMPRESSION OF RAIN.
(Nat. size.)
If we go to the British Museum, on the north wall of room No. 1.

we shall find slabs of sandstone containing footprints of animals,
apparently bipeds and quadrupeds, of which we find the following
notice in the catalogue of the Museum; and when this description is
compared with the three drawings that follow, we make no doubt of
carrying the conviction of the reader along with our own, as to the
origin of these extraordinary ichnites,[68] as such petrified prints are
termed:—“The slabs of sandstone on the north wall of this room,
with the supposed tracks of an animal called Cheirotherium, are that
on the left from the quarries of Hildburghausen in Saxony, and that
in the centre from those of Horton Hill, near Liverpool, (the latter
presented by J. Tomkinson, Esq.) On the right hand are placed slabs
from the same new red sandstone formation, with equally
enigmatical imprests of various dimensions, called Ornithichnites,[69]
being very like footmarks of birds; they occur in the sandstone beds
near Greenfield, Massachusetts, at a cataract in the Connecticut
River known by the name of Turner’s Falls.”
FOOTPRINTS OF BIPEDS (BIRDS?)

PROM TURNER’S FALLS.
(Size of slab, 8 ft. by 6.)
The lines in this drawing are merely to indicate the direction, the
line of progress, of these bipeds, and the reader by following the lines
will find the illustration all the more interesting.
But the most remarkable footprints preserved on slabs of
sandstone are those of a quadruped, whose hinder feet were much
larger than his fore feet. Some of our marsupial[70] quadrupeds, such
as the opossum and kangaroo, and many species of batrachian[71]
reptiles, are distinguished by the same peculiarity. Below is a copy of
this slab, which is in the window recess of the same room of the
British Museum.
The animal that left these impressions on the soft sandy shore,
that are now converted into hard stone, was originally named the
Cheirotherium,[72] and, indeed, this name is still retained by many
writers, the hand-like footprints being quite a sufficient reason for so
appropriate a name; but latterly the teeth of a fossil animal,
supposed to be the same as the Cheirotherium, having been
examined, and disclosing a peculiarly labyrinthine character, the
animal has been called Labyrinthodon.[73] Professor Owen, the great
comparative anatomist of geology, has fairly established the real
character of this animal. He says it is a huge frog, a gigantic
batrachian, with hinder feet at least twelve inches in length,
combining a crocodilian with a frog-like structure; and although the
actual shape and proportions of such an animal must remain greatly
an enigma, it is one of the wondrous marvels of geology to pause over
these extinct huge creatures, and mark in them the exhaustless
resources of creative power.
“So reads he nature, whom the lamp of truth
Illuminates,—thy lamp, mysterious Word!
Which whoso sees, no longer wanders lost,
With intellects bemazed in endless doubt,
But runs the road of wisdom. Thou hast built
Worlds that never had been, hadst thou in strength
Been less, or less benevolent than strong.”
In Professor Ansted’s remarkable prose poem on geology, called,

“The Ancient World,” we have the following picture of the new red
sandstone period, which we quote for its vivid but faithful colouring:
—“We may imagine a wide, low, sandy track by the sea-side; the hills
and cliffs of limestone, which still rise boldly on the shores of the
Avon, and in Derbyshire and Yorkshire, having then been recently
elevated, and forming a fringe to the coast line. In some places,
where footprints are found in successive beds and at different levels,
local elevation was probably going on, and the line of coast was
occasionally shifting. The sandy fiats thus laid bare, and not reached
by the ordinary level of high water, were of course traversed by the
ancient animals of that period; but only a few faint records of them
have been handed down for our observation. Amongst these,
however, we are able to enumerate turtles and tortoises, a little lizard
having a bird-like beak, and probably a bird’s foot,—birds
themselves, some larger than an ostrich, others as small as our
smaller waders. In some parts of the world there were also large
reptiles with powerful tusks, not surpassed in the amount of their
departure from the ordinary structure of reptiles by any known
aberrant forms of that strange and varied tribe.
“Amongst the most striking of these objects, at least on our own
shores, would be the numerous and gigantic Labyrinthodons. We
may imagine one of these animals, as large as a rhinoceros, pacing
leisurely over the sands, leaving deep imprints of its heavy,
elephantine hind foot, strangely contrasting with the diminutive step
of its short fore extremities. Another, a small variety, provided like
the kangaroo, not only with powerful hind legs, but also with a strong
tail,[74] also leaves its impress on the sand, although itself, perhaps,
soon fell a victim to the voracity of its larger congener. These and
others of their kind, passing over the sands, and marking there the
form of their expanded feet, marched onwards in their course,
fulfilled their part in nature, and then disappeared for ever from the
earth, leaving, in some cases, no fragment of bone, and no other
indication of their shape and size than this obscure intimation of
their existence.
“It is strange that in a thin bed of fine clay, occurring between two
masses of sandstone, we should thus have convincing evidence
preserved concerning some of the earth’s inhabitants at this early
period. The ripple mark, the worm track, the scratching of the small
crab on the sand, and even the impression of rain drops, so distinct
as to indicate the direction of the wind at the time of the shower,—
these and the footprints of the bird and the reptile are all
stereotyped, and offer an evidence which no argument can gainsay,
no prejudice resist, concerning the natural history of a very ancient
period of the earth’s history. But the waves that made that ripple
mark have long since ceased to wash those shores; for ages has the
surface then exposed been concealed under great thicknesses of
strata; the worm and the crab have left no solid fragment to speak to
their form or structure; the bird has left no bone that has yet been
discovered; and the fragments of the reptile are small, imperfect, and
extremely rare. Still, enough is known to determine the fact, and that
fact is the more interesting and valuable from the very circumstances
under which it is presented.”[75]
But reminding ourselves of one part of the title of our book, which
professes not only to describe the crust of the earth, but also to point
out its uses, we must add a few words on the economic value of this
small but interesting formation. In this same new red sandstone are
found the salt mines of Cheshire, and the brine pits of
Worcestershire, which supply all the rock and table salt consumed in
England, besides vast quantities for exportation. The rock salt of
Cheshire was first discovered near Northwich, while searching for
coal; but the largest mine, called the Wilton Mine, is at Nantwich,
and still yields about 60,000 tons of salt annually. The salt is
generally found from twenty-eight to forty-eight yards beneath the
surface, in thick strata varying from fifteen to thirty-five yards in
thickness. Besides these beds of salt, there are brine springs from
twenty to forty yards in depth. Our common table salt is almost
exclusively derived from these springs, which is produced by
evaporating the water, and allowing the salt to settle at the bottom of
the pans, where, after being washed, it is placed in moulds like the
China clay, and comes to our grocers’ shops in the blocks we
frequently see. “So far as observation has yet gone, the English
supply is practically inexhaustible; no limit is known to the extent of
the beds or the springs; and it ought to be regarded as one of the
blessings which we owe to the mineral wealth of our country, that the
beautiful table salt of England may be obtained at such an extremely
low price as that now charged for it.”[76]
To this formation, with its fossil footprints, we owe doubtless the
fine fancy of Longfellow, in one of his sweet minor poems; and we
shall bring this chapter to a close by quoting the last three verses of
this lyric. If we can fulfil such a mission, we had better be frail and
erring men than huge Labyrinthodons:—
“Lives of great men all remind us,
We can make our lives sublime,
And departing, leave behind us
Footprints on the sands of time.
“Footprints, that perhaps another,

Sailing o’er life’s solemn main,
A forlorn and shipwreck’d brother,
Seeing, shall take heart again.
“Let us, then, be up and doing,

With a heart for any fate;
Still achieving, still pursuing,
Learn to labour and to wait.”
CHAPTER VIII.
SECONDARY ROCKS.
No. 2. The Oolitic System.
“Hast thou perceived the breadth of the earth? declare if thou knowest it all.”—
Job.
The next division of the secondary rocks is termed the Oolitic

system or group. This is a term rather of convenience than of
scientific accuracy. In this title it is intended to include the Lias, the
Oolite proper, and the Wealden formations. This chapter will be
limited to a consideration of the first two series of rocks just named,
and in each we shall find abundant material for thoughtful
contemplation and intelligent wonder. The English student of
geology possesses this great advantage over the student of geology in
other lands: this little “corner of Europe,” called England, contains
types of almost all the European rocks, and not a few of those that
are found in Asia, Africa, and America. To this fact Professor
Whewell alluded when he said, “As if nature wished to imitate our
geological maps, she has placed in the corner of Europe our island,
containing an index series of European formations in full detail.” Out
of this circumstance, though little thought of by any except the
geologist, arise our threefold sources of wealth. But for the varied
distribution of rocks through our country, neither mining, nor
manufacturing, nor agricultural operations could be carried on to
that extent, and with that success, which have made this country the
envy and the admiration of the civilized world. In the warlike age,
when Shakspeare wrote, we expect that his praise of England will be
on account of her internal security from foreign invasion, and in the
hardy prowess of her sons; as when he says, and we are not
insensible to the patriotic emotions wakened up by such noble
words,—
“This royal throne of kings, this sceptred isle,
This earth of majesty, this seat of Mars,
This fortress built by nature for herself,
Against infection and the hand of war;
This blessed plot, this earth, this realm, this England.”
King Richard II.
But, we confess, we rather dwell on other features in our physical

and social history, as affording the best proof of our real greatness,
and the best illustration of our untiring Anglo-Saxon energy. We
would rather record such facts as the following, than announce any
“famous victory;” we would rather turn fondly to considerations like
these, than contemplate
“Our sands that will not bear her enemy’s boats,
But suck them to the top-mast.”
“Though animal organization is beyond the constructive skill of

man, he takes the elements existing in nature, and by new
combinations gets new power. He keeps adding to the qualities of his
noblest coursers, his fleetest dogs, and his goodliest beeves. He year
by year develops the resources of the soil, reclaims the marsh from
wild fowl, the heath from rabbits, and the flinty hillside from briars
and thistles. He goes on multiplying the blades of grass and grains of
corn, and compels an equal area to yield a twofold substance. He
discovers in his raw materials unsuspected properties, until soda and
sand are converted into a Crystal Palace, and water, coal, and stony
ore into a train, which rushes with the might of an earthquake and
the velocity of the wind. He devises fresh applications of machinery,
and in the creations of his ingenuity finds a servant and a master.
The broad result to England is quickly told: fifty years have doubled
the population, and employment and subsistence have been doubled
likewise. An engine is contrived which economises labour, and
threatens starvation to the labourer; but the issue proves that the
work it makes is more than it saves. Annihilate all the cranks and
wheels constructed in the interval, and return our counties with their
present population to the condition in which they were when the
century began, and there would be nothing but famine in the land. A
government wiser than man’s has provided, in the constant exertion
of talent, for the increase of our race, and maintains a proportion
between our wants and our progress. Every round we rise in the
ladder leads to a higher; but our step is limited, or we should outstrip
our needs by too prodigious a stride, and encroach on the rights of a
future age.”[77]
There is no turning over a leaf in the many-paged book of geologic
investigation, without finding the frequent application of thoughts
like these. Every part of the crust of the earth has its uses, and uses,
too, that are peculiar to it; and as we have endeavoured hitherto to
point out the economic uses of each formation in the great onward
progress of humanity, we shall not find ourselves at a loss in this
respect, now that we enter the second division of the secondary
rocks.
We commence with the Lias.[78] During the new red sandstone
period, clay and marl were being deposited at the bottom of the seas
and lakes then in existence. These were the natural degradations of
existing rocks; into these soft deposits sunk various pre-Adamite
remains, finding in the soft argillaceous beds ready to receive them
the “possession of a burying-place” provided for them by the infinite
Creator. Here they remained until in process of time, at the close of
the new red sandstone period, these beds and their contents were
upheaved from beneath the ocean, apparently without much
violence; and becoming hardened by the chemical action of sun and
wind, present us with the formation we are now studying, rich in its
peculiarly characteristic fossils. The name lias, or layers, indicates
the finely stratified condition of the rocks, and affords proof of the
tranquil method of their deposit and upheaval. They stretch in a
north-easterly direction from Lyme Regis, in Dorsetshire, where it
may be seen on the open coast cliffs for about four miles, on to
Whitby, in Yorkshire, where also it lies open to the sea, in cliffs of
considerable elevation, and lying conformably with other strata, and
is thus particularly favourable to geologistic examination. It is in the
shales of the lias at Whitby, and at Lyme Regis, that most of the
extraordinary and remarkable fossils have been met with that we are
about to describe, and for which this formation is so justly renowned.
Indeed, so far as palæontology, or the knowledge of ancient beings, is
concerned, there is no formation more full of interest to the student.
Here we meet for the first time with the ammonite. We will
introduce him first in his fictitious, and then in his real character,
and this we do to show how science dispels the follies of ignorance
and superstition. The ammonites were once supposed to be petrified
snakes—indeed they are even now called by the ignorant, “snake-
stones;” and the pleasant little legend about these snake-stones was
this, that St. Hilda, who once resided near Whitby, was very much
annoyed, as any matron would be, especially if she kept an
establishment for young ladies, as St. Hilda is alleged to have done,
by the multitude of snakes that infested the place, and disturbed her
equanimity. Accordingly, she set to work, and having first prayed
their heads off, then prayed the snakes into stone. In Scott’s
“Marmion” the legend reads thus:—
“And how the nuns of Whitby told
How of countless snakes, each one
Was changed into a coil of stone
When holy Hilda prayed,
Themselves within their sacred bound,
Their stony folds had often found.”—Canto 2.
Richardson, in his Geology, relates the “instance of a dealer who

having been requested by his customers to supply them with some of
the creatures which had escaped decapitation, contrived to
manufacture some heads of plaster of Paris, and affixed them to the
specimens; thus he pursued a thriving trade, until some remorseless
geologist visiting the place, not only beheaded the reptiles, but
showed that they were in reality fossil shells.” With the figure of the
ammonite every reader of geological books is familiar; it is, perhaps,
the best known and most beautiful of all our fossils. We give below a
representation of four different kinds, found in the lias and oolite.
In general outline it will be seen that the ammonite somewhat
resembles the nautilus, and yet there are characteristic differences
that are so striking as to mock the development hypothesis. In the
first place, the shell of the ammonite, though of the same flat
discoidal form as that of the nautilus, appears to have been much
thinner; secondly, it will be seen that the whorls of the ammonite are
rounder and more in number than those of the nautilus; and lastly,
the siphuncle, of which more presently, runs round the chambers of
the ammonite, but through the chambers of the nautilus. Let us look
a little at each of these
peculiarities; and to aid us, we
give below two drawings of
sections of ammonites, and two
drawings of a nautilus.
The shell of the ammonite is a
continued arch, having
transverse arches or ribs crossing
the main arch, giving to some
particular forms of beauty, and to
all the peculiar symmetry of a
series of spiral curves. But, to
compensate for the thinness of
the shell, a peculiar adaptation is
provided; it consists in the
flutings which are seen in the
1. AH. BECHEI. LIAS surface, occasioned by the
transverse ribs. A pencil-case
made of a thin plate of silver is all
the stronger for being fluted, and
the zinc roof of a railway station
is fluted or corrugated, on the
same principle. It is thus that
strength is combined with
economy of material and
elegance of form. In the
ammonite we see this recent
invention anticipated by the
Creator, long ages ere man had
appeared. In addition to this,
those round knobs or bosses
studding some of the ammonites
(e.g. 1 and 3), like gems upon a
diadem, add strength as well as 2. AM. BRODIEI. OOLITE.
beauty to their frail forms, and
thus served the same purpose as
the groin work in gothic architecture, a beautiful illustration of which
may be seen in the roof of Salisbury Cathedral. Then, looking at the
chambers of the shell in the
sections, we find that some were
for living in, while others were
mere empty air-cells, used for
purposes of elevation or
depression, according as the
animal wished to rise to the top
or sink to the bottom of the sea,—
these front chambers being the
drawing-rooms in which the
aristocratic ammonite lived.
Running round them is an
hydraulic instrument, called the
siphuncle, or air-tube, by means
of which singular mechanism this
3. AM. HUMPHRIESIANUS. curious animal altered his
LIAS. specific gravity for purposes of
sinking or swimming. “The
universal prevalence of such
delicate contrivances in the
siphuncle, and of such
undeviating and systematic
union of buoyancy and strength
in the air chambers throughout
this entire family, are amongst
the most prominent instances of
order and method that pervade
these remains of former races
that inhabited the ancient seas;
and strange indeed must be the
construction of that mind, which
can believe that all this order and
method can have existed without
the direction and agency of some
commanding and controlling
4. AM. WALCOTTI. LIAS.
Mind,”[79] These are what Cowper
finely calls “the unambiguous
footsteps of the God;” and in tracing them our minds are elevated
into exalted ideas of Him, whose
wisdom is unsearchable, and
whose ways are past finding out.
With regard to the sections of the
ammonite, as seen in the two
previous figures, dimly indeed
compared with the beautiful
specimens from which they were
copied, we can only add, in the
words of the treatise just quoted,
“Nothing can be more beautiful
than the sinuous windings of
these sutures in many species, at
AM. KŒNIGI LIAS. their union with the exterior
shell, adorning it with a
succession of most graceful
forms, resembling festoons of
foliage and elegant embroidery.
When these thin septa are
converted into iron pyrites, their
edges appear like golden filagree
work, meandering amid the
pellucid spar that fills the
chambers of the shelf.”
We pass by some other fossils
found in the lias, such as the
pentacrinite, of which we shall
speak when we come to other
members of the crinoideal family,
gryphites,[80] of which the
gryphea incurva is the most
common type, broken portions of
NAUTILUS. (FOSSIL.)
which, and sometimes good
HORIZONTAL.
specimens, may be found in most
gravel heaps, their peculiar form
having obtained for them the name among the rustics of “devil’s toe-
nails;” and belemnites,[81] often met with in vast numbers, and
known under the name of ladies’ fingers, and thunderbolts; and
fossil fish, a few specimens of
which are found in the lias.
Passing by these, we next
notice the huge Saurians,[82] by
far the most wondrous
vertebrated animals with which
either the ancient or modern
vestiges of creation have made us
acquainted. These saurians,
sometimes called Enaliosaurians,
(enalios, the sea, and sauros, a
lizard,) on account of their
AM. HETEROPHYLLUS. LIAS. peculiar habitat, may all be
included in Milton’s description
of the leviathan, though it is hard
to tell what precise creature our
great poet had in his “mind’s eye”
at the time of writing this
description—one line of which,
from having a syllable too much,
reads most unrhythmically—for
the crocodile does not go so far
out to sea as he represents, and if
he did, would be hardly likely to
go on to the “Norway foam;” nor
can he mean the whale, for the
whale has no “scaly rind:”—
NAUTILUS (FOSSIL),
SHOWING THE SIPHUNCLE.
“That sea beast,

Leviathan, which God of all his works
Created hugest that swim the ocean stream.”
Par. Lost, Book I.

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Chapter 1 Impact of Credit Access on Economic Empowerment of

Chapter 2 Relationship between Work–Life Balance and Job

Chapter 3 The Evolution of Digital Platforms���������������������������������������������������� 41

Chapter 4 Impact of Exchange Rate Movements and World Output on

Chapter 5 Information and Communication Technology as a Contingent

Chapter 6 Effects of Capital Adequacy on Operational Efficiency of

Chapter 7 Time and Frequency Analysis Using the ARMA Model:

Chapter 8 Behavioural Biases and Trading Volume: Empirical Evidence

Chapter 9 Leveraging Tacit Knowledge for Strategizing: Impact on

Chapter 10 Analysis of Investors’ Perceptions of Mutual Fund Investment

Chapter 11 Measuring Customer Brand Equity and Loyalty: A Study

Chapter 12 Random Walk Hypothesis: Evidence from the Top 10

Chapter 13 Priority-Based Time Minimization Transportation

Chapter 14 ASEAN and India: Exploring the Progress and Prospects

Chapter 15 Impact of Internationalization on Financial Performance:

Chapter 16 The Role of a Responsible Global Citizen (Gitizen) in

Chapter 17 Small and Medium-Sized Enterprise Networks and

Chapter 18 Influence of Branding of Financial Instruments on

Chapter 19 Proposed Model of Evaluating Entrepreneurial University

Chapter 20 Research and Innovation in Teaching Pedagogy for

Dr. Amiya Kumar Mohapatra is Associate Professor and Chairperson-IQAC at

1.1.2 Problem Statement

1.1.3 Objectives of the Study

1. To estimate the impact of credit access on the saving of married women

1.1.4 Scope and Limitation of the Study

1.1.5 Significance of the Study

1.1.6 Organization of the Chapter

1.2 LITERATURE REVIEW

1.2.1 Microfinance and Women’s Empowerment Globally

1.2.2 Microfinance and WEE in Africa

1.2.3 Microfinance and WEE in Ethiopia

1.3 METHODOLOGY, DATA, AND MODEL

1.3.2 Background of ACSI

1.3.3 West Gojjam Zone

1.3.4 Jabi Tehinan Woreda/District

FIGURE 1.1 Map of Jabi Tehinan Woreda.

1.3.4.1 Sampling Techniques and Sample Size

1.3.5 Method of Data Analysis

1.3.5.2 Econometric Model

1.3.5.3 Propensity Score Matching (PSM)

where E(.) represents the average or expected value.

ATE = E (Yi (1) /D = 1) − E (Yi ( o ) /D = 0 )  (1.3)

1.3.5.4 Description of Variables

Source: Own expectation with review literature.

A. Binary Logit Model

1.4 RESULTS AND DISCUSSION

Source: Finote Selam branch of ACSI office.

Non- Client Non- Client Non- Clients

Source: Survey data.

Chapter 3 The Evolution of Digital Platforms�� 41

ATE = E (Yi (1) /D = 1) − E (Yi ( o ) /D = 0 ) (1.3)