text:
EXPORT PERFORMANCE OF THREE MAJOR SECTORS AND A VIEW ON EXPORT CONCENTRATION: A STUDY ON BANGLADESH

Bangladeshs export earning has significantly increased over a period of time. Readymade garments (RMG), jute, and leather are the top three export earning sectors. This paper uses a multiple linear regression model to explain the relationship between total exports, and the top three export earning sectors. This paper finds Bangladeshs export performance is highly dependent on the RMG sector while Bangladesh has a comparative advantage for many other sectors in the global market. On the other hand, Bangladeshs export market is also concentrated with few countries. Less diversification in products and markets is a great concern for the export economy of Bangladesh because competition in the global export market is always rising. In such a situation there is no other way to emphasize product diversification and explore new markets to reduce high dependency on a few big markets.

Bangladesh"s export earning has significantly increased over a period of time. Readymade garments (RMG), jute, and leather are the top three export earning sectors. This paper uses a multiple linear regression model to explain the relationship between total exports, and the top three export earning sectors. This paper finds Bangladesh"s export performance is highly dependent on the RMG sector while Bangladesh has a comparative advantage for many other sectors in the global market. On the other hand, Bangladesh"s export market is also concentrated with few countries. Less diversification in products and markets is a great concern for the export economy of Bangladesh because competition in the global export market is always rising. In such a situation there is no other way to emphasize product diversification and explore new markets to reduce high dependency on a few big markets.

…………………………………………………………………………………………………….... Introduction:-
The export performance of a country influences its economic growth, employment, and the balance of payment situation. Several empirical studies (Feder 1982;Balassa 1978) using both time-series and cross-sectional data suggest that exports contribution to GDP growth more than just the exchange in the volume of exports. It must be mention that competition among exporters is also very high and several factors influence the export performance of a country like infrastructure, transportation, communication, regional and political integration, etc. Each country continuously modifying its export basket and destinations due to rising competition in the global market. However, to protect from this unwanted competition, every country tries to implement some pragmatic strategies like diversifying products and exploring new markets to hold a strong position in the world market.
Bangladesh is a developing country and has achieved consistent economic growth for the last ten years. Its export income has significantly increased over a period of time. There are several items in the export basket of Bangladesh which include traditional and non-traditional items like, readymade garments, leather and leather goods, agricultural products, jute and jute goods, IT, pharmaceutical and other chemical products, frozen food (fish and seafood), etc. Among all of these items, some are newly emerged and showing potential ability as a major contributor in the world market. Bangladesh is the top garment exporter in the world and has a relative advantage in the production of apparel items. The lion"s share of export income comes from the readymade garments sector. The jute and leather sector occupied second and third position respectively in this list in terms of export earnings.

ISSN: 2320-5407
Int. J. Adv. Res. 8(09), 1112-1121 1113 According to Export Promotion Bureau (EPB) data, Bangladesh"s export earnings grew by 10.55 percent in the financial year 2018-19. It is worth mentioning that despite having a double-digit export growth, it does not show a promising sustainable export growth in the long-run due to high dependency on a single sector. After RMG, jute and leather are the other two important sectors but their performance is not satisfactory. Their contribution is continuously reducing to the total export. Bangladesh failed to maintain export growth in these two sectors even when it had a higher revealed comparative advantage (RCA) in all items of raw jute, jute goods, and leather goods. Bangladesh is also suffering the problem of a narrow market for export products. Bangladesh exports mostly to the European Union (EU) countries and North America i.e. the United States and Canada while imports mostly from China, India, Singapore, Malaysia, and Indonesia. Bangladesh is underprivileged in terms of export earnings from her neighbouring countries.
This study aimed to find the relation between total export and the performance of three major export earning sectors along with an overview of the export concentration of Bangladesh. This paper is structured as follows; the next section presents a literature review followed by section 3 which presents details of the data and methodology. Section 4 present result and discussion. The last section is about the conclusion and policy recommendations of this study.

A brief review of literature
Bangladesh"s export performance is related to larger commodity diversification of exports. A shift towards products in which Bangladesh has comparative advantage would presumably bring many gains from trade . He also added that demand for Bangladesh exports mostly from developed countries whereas demand from both developed and developing economy has a positive impact on Bangladesh exports. Rahman (2008) in his paper "The Foreign Trade of Bangladesh: Its Composition, Performance, Trend, and Policy" found that Since the 1990s, the export sector of Bangladesh is performing well despite having some structural limitations. The export performance of primary commodities is comparatively poor that of manufactured commodities. He mentioned commodity and market concentration is a hindrance to Bangladesh"s export economy. There is no other option than diversify exports and improve quality.
Ready-made garments have become the main export product of Bangladesh since the late 1980s. However, the RMG industry faces several challenges, for example, dependence on imported inputs, product and market concentration, labour compliance, lack of infrastructure, etc. (Ahmed, 2009). Demand for jute and jute products is rising in the world market because of world environmental issues. Bangladesh has a relative advantage in the production of jute and jute products. Technological up-gradation, skill development, diversified products can be a helpful measure to regain the past glory of jute (Rahman and Khaled, 2011). Similarly, Bangladeshi leather products have significant potentiality in international export (Islam and Siddique, 2014).
Bangladesh"s export sector has registered commendable success in recent years but yet not able to utilize her full potentials. In many sectors, Bangladesh has a comparative advantage but till now the export basket remained undiversified. Bangladesh has failed successively to convert its comparative advantage into a competitive advantage (Hossain and Chowdhury, 2014). Besides, they comment that for developing countries geographic diversification is more important than product diversification.
Several studies have done on the export performance of Bangladesh. All of these studies have pointed out different key facts about export performance and contributed many implications or recommendations to facilitate this sector of the economy. However, the present paper attempts to analyze the export performance of three major sectors with keeping a view on the export concentration of Bangladesh.

Data and Methodology:-
This study uses the data of three major export earning sectors with total export income from a period of FY 1995-96 to FY 2019-20. These data are mainly collected fromthe Export Promotion Bureau (EPB), Bangladesh Bank, and Bangladesh Garment Manufacturers and Export Association (BGMEA).
In this study, I have come with a multiple linear regression model to predict total export earnings as an explained variable associated with RMG, jute, and leather exports as explanatory variables respectively. Besides, I calculated 1114 the log values of these four variables to transform into a more efficient model. The regression equation expressed as following: = Total export = Export of ready-made garments = Export of jute sector ℎ = Export of leather sector 1 = Intercept for equation (1) 2 , 3, 4 are the slope of RMG, jute, leather sector respectively and = Error term for equation (1).

Result and Discussion:-
Multiple linear regression was calculated to predict total export earnings based on three important sectors which are RMG, jute, and leather sector respectively. A significant regression equation was found (F (3, 21) = 12129.26, p < .000), with an R 2 of 0.99. Table 1 and Table 2 provides the necessary information regarding this model.
From equation (2) we see that a 1 percent increase in the RMG export led on the average to about a 0 .87 percent increase in the total export. Holding RMG and leather sector constant, a 1 percent increase in jute export led on the average to about a 0.067 percent increase in the total export. Similarly, holding the other two sectors constant, a percent increase in the leather sector led on the average to about 0.036 percent increase in the total export. From a statistical viewpoint, the estimated regression line fits the data quite well. The R 2 value of 0.99 means that 99 percent of the variation in the (log of) total export is explained by the logs of RMG, jute, and leather export.

Ready-made garments
Whenever we talk about the economy, growth, and export income of Bangladesh, it leads us to talk about the performance of the RMG sector. RMG sector plays a crucial role in the foreign exchange earnings of Bangladesh. Over the years Bangladesh"s RMG industry has seen many positive changes. Nowadays, Bangladesh is considered as the top garments and textile exporter in the world. Especially, from FY 1995-96 to FY 2019-20, the RMG sector experienced a robust expansion in terms of export earnings and contribution to the total export.
1115 Figure 1:-RMG Export, Total Export, and Percentage Share of RMG Sector.
In figure 1, we can graphically observe the relation between total export and RMG export. In the FY 1995-96, total RMG export was 2547.13 million US dollars which increased to 27949.19 million US dollars in FY 2019-20. Over the past years, the RMG sector contribution to the total export earnings has progressively increased. According to EPB, in FY 1995-96, the share of the RMG sector was 65.61 percent of total export and now it is 83 percent of the total export. Thus, it will not be wrong to say that RMG export is almost equal to the total export. Similarly, in the multiple linear regression model, I found that a 1 percent increase in the RMG export led on the average to about a 0 .87 percent increase in the total export which clearly shows the high dependency on the RMG sector. Thus, nobody can omit the significance of the RMG sector to total export earnings. With the passage of time, the number of garments factories has also increased. In Bangladesh exports a wide range of apparel products in a different region of the world. The market is often classified into traditional and non-traditional markets. The traditional markets simply refer largest export market while non-traditional markets refer to smaller export shares. Traditional markets include mainly the European Union (EU), USA, and Canada. According to EPB and BGMEA, the EU is the largest market for RMG export. In FY 2019-20, the total RMG export was 17146.18 million US dollars which were 61.35 percent of its total RMG export to the world while in the USA and Canada, it was 5146.53 million (18.41 percent) and 876.27 million (3.14 percent) respectively. France, Germany, Italy, Spain, and the UK are the largest importers of Bangladeshi RMG"s from EU countries. Other than these three main destinations are considered as non-traditional markets. In FY 2019-20, Bangladesh earned 4780.20 million US dollars from non-traditional markets which were 17.1 percent of the total RMG export where Australia, Japan, China, Russia were the main buyers. Shirts, trousers, jackets, t-shirts, and sweaters are the five major products manufactured by the industry.
Bangladeshi readymade garments sector witnessed significant positive changes and as a result, it has brought pride to Bangladesh. It is also pointed out that the US-China trade war is an important factor for the sharp rise in RMG export in recent years. The Economist said, "it is an issue as the global buyers shifted their orders from China to Bangladesh for having in alternative sourcing destination which made Bangladesh"s position in the US market stronger than it was in the previous time". Along with this fact, work plan safety, investment in the backward linkage industry, political stability, and duty-free access to the export destinations are considered as the vital factors for the sharp growth of the RMG sector.

Jute and jute products
When the whole world is concerned about global warming and environmental pollution, the demand for jute and jute products is increasing worldwide due to its eco-friendly nature. The production of jute and jute goods is also playing an important role in many developing economies. The production of jute is mainly concentrated in the south  and south-east Asian regions. India has become the largest producer of jute due to its advanced production techniques along it is also the largest consumer of raw jute and jute products. As a result, India in a dominant position in the worldwide jute products market. However, Bangladesh is currently the second-largest producer of jute fiber and popular for its highest quality of jute fiber. Bangladesh"s share is more than 70 percent, which makes Bangladesh the largest exporter of jute fiber in the world market. It must be mention that Bangladesh reached at this position due to its agro-climatic environment. The major exported jute products are hessian, sacking, and carpet backing cloth (CBC) which constitutes the major parts ofexport earnings of this sector. There is a huge demand for Bangladeshi jute and jute goods from all over the world and mainly this demand comes from Belgium, Canada, USA, UK, China, India, and Pakistan.
Jute is also known as the "golden fiber" due to its golden brown colour and its contribution towards the Bangladeshi economy. It was the single dominant export item of Bangladesh till the 1980s. It will not be wrong to say that with the emergence of other manufacturing export-oriented products most likely, readymade garments products, leather goods, and footwear, it has lost its position in the national economy. It recently occupied the second position in the export basket of Bangladesh by crossing its closest competitor leather sector but still, its growth rate and share are incomparable against the RMG sector. From Table 3, we can observe the trends of export income earned by the jute sector. Further, we can see its modest increase in export but significantly reduced share of the total export. From FY 1995-96 to 2019-20, the export of jute items has increased to only 462.69 million US dollars but at the same time, its percentage share reduced from 10.81 percent to 2.62 percent. A similar scenario has been observed in the proposed regression model, where we found that a 1 percent increase in jute export, led on the average to about 0.067 percent in the total export which is very negligible as compared to the RMG sector. This performance is embarrassing for the export sector economy especially when we present this sector as the second specialized sector.
As stated earlier that Bangladesh is the largest exporter of jute fiber and she earned fame for the production of highquality jute. However, the percentage share of jute export to the total export is declining day by day and the products are not diversified. Several reasons pointed out for this deteriorating condition. For example, the problem of land scarcity for cultivation, comparatively higher profitability from hybrid crops, high input cost, the disparity between the jute-rice price ratio, and the cultivation of jute in less productive lands are mainly responsible. As a result, the sector encounters lower productivity and low profit. According to a report of Bangladesh Jute research institute (BJRI) pricing policy, inadequate marketing support and lack of infrastructure had a significant negative impact on the production of jute and export earnings. The government should take initiatives to solve these problems to make a turnaround.

1117
Leather and leather goods When we analyze the export performance of Bangladesh, it leads us to talk about the leather sector which occupied an important position after the RMG sector. High-value addition, private investment, and potential employment opportunities have brought this sector to this crucial position. Export composition of the leather sector is broadly classified into three categories of products: finished leather, leather goods, and footwear. However, it is worth to mention that the export of leather footwear dominates the export of total leather items. Key export destinations for these products are the EU, USA, Australia, Japan, Singapore, and South Korea.
According to the trade report of 2019-20, the leather sector placed the third position in terms of export earnings. Its export earnings were higher than the jute sector from 2013-14 to 2018-19 but recently has fallen behind the jute sector. According to the Export Promotion Bureau, in the fiscal year 2018-19, Bangladesh earned 1.01 billion US dollars exporting leather, leather goods, and leather footwear and crowned the only billion-dollar export earner after the apparel industry. However, in the recent three years, this sector witnessed negative growth. Export earnings from the leather industry continuously falling along with export share (see figure 3). In 2016-17, the percentage share was 3.54 which reduced to 2.36 percent in 2019-20 as per EPB. From the multiple linear regression analysis we found that holding RMG and jute sector constant, 1 percent export increase led on the average to about 0.036 percent increase in the total export. So, we can say that like the jute sector, the total export dependency on the leather sector is also mere.
To ensure sustainable export performance for any sector, it is obligatory to diversify export products and explore new product destinations. Razzaque et al (2018) in their paper "Leather and leather goods export from Bangladesh: Performance, Prospects, and Policy Priorities" pointed out that Bangladesh exported the lowest number of products and her market is also concentrated. China, India, Vietnam are the main competitors. They export more leather items to a higher number of destinations and their export baskets are also significantly different from Bangladesh. Recently, the government of Bangladesh has forcibly moved tanneries from Hazaribagh to Savar to make the sector compliant and environment friendly. But construction of the new site yet to be completed especially, the central effluent treatment plant (CETP) at Savar Leather Industrial Park. Trade analysts and industry insiders considering this as a responsible event for the recent downward movement of the leather sector. The government of Bangladesh has set five billion US dollar export target of leather and leather goods by 2021. However, the downtrend of this sector in recent years is a great concern for the economy.

Concentration and diversification of export
It is always said that export diversification plays a pivotal role for sustainable export performance. On the other hand, a high degree of export concentration is a great concern for the country"s export economy. Export concentration occurs either in the form of a narrow range of goods and services or by the shrunk destination of products.

1118
As we know that the export of goods and services plays a crucial role in economic growth and development. However, when we look at undiversified products and markets of Bangladesh, it is disappointing for the economy as a whole. We saw the high dependency of total export on the RMG sector, whereas a negligible contribution of the jute and leather sector even occupied the second and third positions in the export basket. Figure 5 presents, export receipts of Bangladesh by the major commodities of three recent financial years. All commodities share reduced except RMG products. Any market fluctuations or unpredicted hit in this sector would highly affect the export sector economy of Bangladesh. Faiz and Maitra (2020) in their paper used the Herfindahl-Hirschman Index (HHI) method to show the degree of single sector domination on the export economy of some selected countries along with Bangladesh. In this method, there is only one dominant sector if the HHI (100×100) =10000 and there would be two equal sectors if HHI is (50×50+50×50) =5000. It is found that Bangladesh"s export depends on a single sector which is none other than the RMG sector. The contribution of other sectors is negligible. Figure 3 presents, Bangladesh"s HHI increased over time which indicates that the dependency on a single sector has increased. 1120 Figure 5:-Country-Wise Export in 2018-19.
However, expansion of the market is mandatory for sustained export growth. High dependency on some big markets is highly risky and a great concern for the economy, because any unanticipated incident in these markets could adversely influence export earnings.

Conclusion and Policy Recommendations:-
With time, Bangladesh"s export earning has increased significantly. In FY 2018-19 export growth was 10.55 percent as compared to the previous financial year but reduced in FY 2019-20 due to the crisis of pandemic. On the other side, we found its export earnings how much concentrated and dependent on a single sector. Export growth in other important sectors such as the jute and leather sector is stagnant.
Bangladesh"s export market is also concentrated with few countries and rising competition in the export market is also a concern. In the meantime, main export competitors such as China, India, Thailand, and Vietnam are in a better position in terms of diversifying their products and markets. Vietnam has outdone Bangladesh to become the second-largest apparel exporter in the fiscal year 2019-20 which position was captured by Bangladesh for a long time.
In such a condition, it high time for Bangladesh to focus on product diversification as well as market diversification. Many studies revealed that for many products Bangladesh has a comparative advantage in the global market. Bangladesh should immediately give attention to promote these sectors by providing necessary supports to facilitate product diversification. In the meantime, exploring new markets will help to reduce dependency on a few big markets. Bangladesh needs to export more to neighbouring markets more specifically in China and India. The government should go for bilateral trade agreements to avail duty-free market access to new countries and that could be a solution for the problem of market concentration.
All in all, for the sake of sustained export growth and economic development, the government must have to ensure proper exchange rate protection policy, high foreign direct investment (FDI) inflows, friendly tariff regime, a good environment for trade, and most importantly pragmatic policy reformation.

1121
Disclosure statement I have no conflicts of interest to disclose.


s2fieldsofstudy: Economics Business

text:
The Influence of Environmental Pollution and Drought on the Satisfaction With Life of Entrepreneurs in Zambia’s Mining Sector

Following contemporary trends of entrepreneurship research, measures of entrepreneurship, in terms of corporate social responsibility in relation to business performance (as an indicator of welfare, which is monetary well-being), has been investigated abundantly in developing countries. However, the consequences of climate change and natural disasters, such as environmental pollution and drought, have hardly been studied on the satisfaction with life (i.e., well-being) of entrepreneurs in developing countries. Therefore based on questionnaires administered to 132 entrepreneurs in the mining sector of the Copperbelt Province and North-Western Province of Zambia (i.e., the developing country context of this study), this chapter shows that environmental pollution and drought have a negative effect on satisfaction with life. Moreover, environmental pollution and drought have negative effects on both business’ profitability and decision-making. The results involve contributions to the existing literature and practical suggestions for entrepreneurs, policymakers, and educators.

most because of their limited economic resilience (Arndt et al., 2019;Fayiga, Ipinmoroti, & Chirenje, 2018;Gannon et al., 2018). In these regions, resource scarcity from water and land leads to food insecurity and forced migration (Nkomoki, Bavorová, & Banout, 2019). This suggests that the natural environment is threatened, and human society is at greater risk because its survival is threatened (Bose-O'Reilly et al., 2018;Mihaljevič et al., 2018). A human being's survival is dependent on the natural environment capacity to sustain well-being, including food, shelter, and clothing (Brundtland, Khalid, Agnelli, & Al-Athel, 1987;Krefis, Augustin, Schlünzen, Oßenbrügge, & Augustin, 2018). Scholars and international regulatory bodies have called for action to reduce the negative environmental and social impacts (Babiak & Trendafilova, 2011;Libanda, Zheng, & Ngonga, 2019;Mulenga, 2019). Because, for example, it is known that natural disasters cause a decrease in entrepreneurial activity in the short run, especially in developing countries (Boudreaux, Escaleras, & Skidmore, 2019). As such, entrepreneurs should take measures of how environmental disasters, such as environmental pollution and drought caused by industry, impact the well-being (i.e., measured in this chapter as satisfaction with life: Diener, Emmons, Larsen, & Griffin, 1985) of entrepreneurs. But before taking measures, first, the impact of natural disasters on entrepreneurs' satisfaction with life has to be determined.
Following urgent global trends such as climate change, and consequently natural disasters, the relationship between entrepreneurs, on the one hand, and well-being, on the other hand, is not new. This relationship has been researched from different global perspectives (Lepeley, Kuschel, Beutell, Pouw, & Eijdenberg, 2019), including Zambia (see Eijdenberg & Ehmann, 2019), showcasing that entrepreneurship is a defining factor for societal well-being. From the entrepreneurs' perspective, taking care of the environment is one way of taking care of one's own and others' well-being. Giving back to the community, engaging underprivileged people in the business, recycling products, offering sustainable solutions to customers, and using resources efficiently are examples of corporate social responsibility of entrepreneurs in Zambia (Choongo, Paas, Masurel, van Burg, & Lungu, 2018;Choongo, van Burg, Masurel, Paas, & Lungu, 2017;Choongo, van Burg, Paas, & Masurel, 2016). More often than not, these studies showed how corporate social responsibility determined business performance, and, hence, the well-being (i.e., welfare, expressed in monetary terms) of entrepreneurs. However, how environmental disasters, such as environmental pollution and drought caused by industry, affect the well-being of entrepreneurs has hardly been researched.

THE RESEARCH QUESTION
Although the number of studies on the economic effects of natural disasters has increased in recent years (Ishizawa & Miranda, 2019;Karbownik & Wray, 2019;Mohan, Ouattara, & Strobl, 2018;Oliva & Lazzeretti, 2018), most often these studies are conducted in (1) developed countries and (2) often by using large quantitative, macro-level surveys. However, a showcase of environmental disasters in an economically important sector of a developing country-the mining sector in Zambia-has been missing hitherto. Especially the one propelling economic and societal development, the entrepreneurs, have largely been overlooked, including their satisfaction with life. The satisfaction with life of these acting individuals is important because, eventually, it contributes to the well-being of individuals, in particular, and society in general. Hence, the research question (RQ) of this study is "What is the influence of environmental pollution and drought on the satisfaction with life of entrepreneurs in Zambia's mining sector?" Based on primary data, the influence of environmental disasters (i.e., environmental pollution and drought) on the satisfaction with life of entrepreneurs in Zambia's major mining cities Chambeshi, Chingola, Kitwe, Luanshya, Mufulira, Ndola, and Solwezi, is examined. A sample of 132 entrepreneurs is surveyed. Besides descriptive statistics and correlations, regression analyses (Hair, Black, Babin, Anderson, & Tatham, 2006) are conducted on the entrepreneur's satisfaction with life, and their perception of how this has been affected by environmental pollution and drought in Zambia.

RESEARCH CONTEXT: ZAMBIA
The Republic of Zambia (or short Zambia) is the context of this study. Zambia is a country in the southern regions of SSA with Lusaka as its capital city. Zambia has an estimated population of 17 million. It is typically a "developing country" with increasing gross domestic product (GDP) growth rates per annum and an average GDP per capita of USD 4000, while high inflation rates on consumer prices were recorded in 2017, at around 6.6% (17.9% in 2016). More than half of Zambia's population live below the poverty line and is younger than 17 years old. Urbanization is high: approximately 43.5% of the population live in the larger urban areas, a comparable percentage with other SSA countries (Central Intelligence Agency, 2020; Choongo, Eijdenberg, Chabala, Lungu, & Taylor, 2020).
Like other SSA countries, Zambia is still in premature stages of economic development. Countries such as Zambia depend on natural resources to achieve development. They, for instance, introduce extractive industries such as mining to generate resources to fulfill their basic needs, improve the standard of living, and reduce poverty. In the case of Zambia, minerals extracted such as copper and cobalt are melted in furnaces in the smelter to transform concentrates in copper cathodes ready for sale. In the past century, Zambia's mining industry has been the economy's main driver, and it has considerably contributed to economic and societal development (Choongo et al., 2020). As a heavy industry, mining is among the most polluting (e.g., air, water, and soil) (Mulenga, 2019). The mining activities are mainly in the country's northern regions: the Copperbelt Province and the North-Western Province. Often related sectors to mining, such as construction, oil processing, and manufacturing, are also great contributors to the country's economy.
Among the other heavy polluting industrial activities, the melting of copper leads to the emission of large amounts of carbon dioxide into the atmosphere causing air and water pollution. When sulfur dioxide combines with rainwater, it forms acidic rain that corrodes metal roofs, destroys plantation, and affects rivers. Furthermore, air pollution contributes to global warming and climate change that consequently results in natural disasters such as floods, droughts, and cyclones. Flood also results in crop failure. Thus, the changes induced to the natural environment make people living in those communities prone to natural disasters. Therefore this study is significant because the findings will inform scholars and practitioners on the importance of taking measures to reduce negative environmental effects, thereby improving society's satisfaction with life and the natural environment.

DATA COLLECTION
Following the RQ, we collected data on the influence of environmental pollution and drought on the satisfaction with life of entrepreneurs within Zambia's mining sector. All items in the questionnaire were in English. After the process of items' development, the questionnaire was pilot tested on a group of 10 entrepreneurs to check on comprehensibility, consistency and validity, and English language. The final version of the questionnaire was administered on a sample of n 5 132 entrepreneurs in the cities and outskirts of Chambeshi, Chingola, Kitwe, Luanshya, Mufulira and Ndola; in the Copperbelt Province; and Solwezi in the North-Western Province. As mentioned earlier, mining is the dominant industry in this region, and many entrepreneurs are active either within the mining industry or in related areas such as distributors, suppliers, or service providers. Table 10.1 presents the items of the final questionnaire.
The procedures for generating suitable items for the questionnaire evolved as follows: 1. Sociodemographic items were selected to control for pertinent information of the respondents (cf. Choongo, 2017;Eijdenberg et al., 2015;Eijdenberg, 2016); 2. Diener et al. (1985)'s scale 1 was adopted to measure satisfaction with life, the proxy of wellbeing. Principal Components Factor analysis (PCA) was used to check the suitability of the scales in the Zambian context. All the items from the original scale loaded on a single-item Eigenvalue greater than one, explaining the variance of 57.2%. The factor loadings were above 0.6, and the scale showed reliability with a Cronbach's alpha value of 0.81. 3. The items measuring environmental pollution and drought were developed on the basis of, first, a literature review of these two topics and, second, an iterative process of the Zambian authors of this chapter to shape the items in such a way that they would capture the intended meaning and be applicable to the Zambian context. From the PCA results the KaiserÀMeyerÀOlkin score, a measure of sampling adequacy, for environmental pollution was 0.795 and for drought was 0.728. The Bartlett's Test of Sphericity values were significant at P , .001 for both variables. All commonalities for the variables were above the critical value of 0.3 (Hair et al., 2006). The items on the scale loaded as expected, explaining a total variance of 69.4% for environmental pollution and 79.4% for drought. Both variables showed reliability with the Cronbach's alpha of environmental pollution (α 5 0.849) and drought (α 5 0.864) and were above the recommended threshold of 0.7 (Hair et al., 2006). We calculated the composite scores for the constructs of environmental pollution and drought, respectively, by calculating the average score on all scale items.
The sample consisted of entrepreneurs who were managing and owning SMEs, strongly related to the mining industry. These types of businesses are manufacturers of finished and semifinished products but especially contractors and suppliers. From the sample, 34% of the businesses were female-owned, while 66% were owned by men. The majority of the respondents were below the age of 40 years (i.e., 77%), while all respondents had completed secondary school education and 74% had some form of tertiary education (i.e., educational qualifications higher than secondary school). 1 To illustrate its impact, according to Scholar Google the paper that contains this scale has been cited 27,544 times on September 7, 2020.

10
In Zambia's mining region, I observe much environmental pollution such as air pollution 1 5 strongly disagree, 2 5 disagree, 3 5 slightly disagree, 4 5 neither agree nor disagree, 5 5 slightly agree, 6 5 agree, 7 5 strongly agree 11 In Zambia's mining region, I observe much environmental pollution such as noise pollution 12 In Zambia's mining region, I observe much environmental pollution such as water pollution 13 In Zambia's mining region, I observe much environmental pollution such as garbage

14
In Zambia's mining region, I observe that environment suffers from drought 1 5 strongly disagree, 2 5 disagree, 3 5 slightly disagree, 4 5 neither agree nor disagree, 5 5 slightly agree, 6 5 agree, 7 5 strongly agree 15 In Zambia's mining region, I observe that temperature is rising 16 In Zambia's mining region, I observe that water levels in rivers are dropping

17
To what extent has environmental pollution in Zambia's mining region, such as air pollution, affected the profitability of your business?
1 5 very negative, 2 5 negative, 3 5 somewhat negative, 4 5 neither negative nor positive, 5 5 somewhat positive, 6 5 positive, 7 5 very positive 18 To what extent has environmental pollution in Zambia's mining region, such as noise pollution, affected the profitability of your business?
(Continued) To what extent has environmental pollution in Zambia's mining region, such as water pollution, affected the profitability of your business? 20 To what extent has environmental pollution in Zambia's mining region, such as garbage, affected the profitability of your business?

21
To what extent has drought in Zambia's mining region had a profound effect on the profitability of your business?
1 5 very negative, 2 5 negative, 3 5 somewhat negative, 4 5 neither negative nor positive, 5 5 somewhat positive, 6 5 positive, 7 5 very positive 22 To what extent has rising temperatures in Zambia's mining region had a profound effect on the profitability of your business? 23 To what extent has dropping water levels in rivers in Zambia's mining region had a profound effect on the profitability of your business?

24
To what extent has environmental pollution in Zambia's mining region, such as air pollution, influenced the decision-making practices of your business?
1 5 very negative, 2 5 negative, 3 5 somewhat negative, 4 5 neither negative nor positive, 5 5 somewhat positive, 6 5 positive, 7 5 very positive 25 To what extent has environmental pollution in Zambia's mining region, such as noise pollution, influenced the decision-making practices of your business? 26 To what extent has environmental pollution in Zambia's mining region, such as water pollution, influenced the decision-making practices of your business? 27 To what extent has environmental pollution in Zambia's mining region, such as garbage, influenced the decision-making practices of your business?

28
To what extent has drought in Zambia's mining region influenced the decision-making practices of your business?

DATA ANALYSIS
To answer the RQ, the collected data were analyzed following the conventional steps of quantitative methodologies (Hair et al., 2006) as previously applied in other SSA countries (cf. Eijdenberg & van Montfort, 2017;Eijdenberg et al., 2015) and in Zambia (cf. Choongo et al., 2016Choongo et al., , 2020. After the data collection, descriptive statistics and correlation analyses were conducted. To test the effects of environmental pollution and drought on the satisfaction with life of entrepreneurs, regression analyses were performed. The next section presents the results.

DESCRIPTIVE STATISTICS
We computed the Means and Standard Deviations of the items numbered 17À23 and 24À30-as per Table 10.1. These items reflect the effects of environmental pollution and drought on profitability and the effects of environmental pollution and drought on decision-making, respectively. The results are presented in Table 10.2. From Table 10.2 can be drawn that the effects of environmental pollution and drought on both business' profitability and decision-making are negative: all means are far below the midpoint of 4.0.

CORRELATION ANALYSES
A partial correlation was conducted to establish the relationship between satisfaction with life and environmental pollution and drought while controlling for gender, age, education, and business size (i.e., measured by "number of current employees, including yourself"). There was a high, negative partial correlation between satisfaction with life and environmental pollution (t 5 2 0.79, P , .001) To what extent has dropping water levels in rivers in Zambia's mining region influenced the decision-making practices of your business? and drought (t 5 2 .66, P , .001). Zero-order correlations also showed that there was a statistically significant, negative correlation between satisfaction with life and environmental pollution (t 5 2 .73, P , .001) and drought (t 5 2 0.66, P , .001), indicating that the control variables did not have much influence in controlling for the relationship satisfaction with life and environmental pollution and drought.

REGRESSION ANALYSES
Multiple linear regression analyses were used to establish the effects of environmental pollution and drought on satisfaction with life of entrepreneurs in Zambia's mining sector. Hence, in addition to the sociodemographics (i.e., items numbered 1À4) (i.e., "controls"), the composite constructs of environmental pollution (i.e., items numbered 10À13) and drought (i.e., items numbered 14À16) are defined as the independent variables (i.e., "main effects"), and the composite construct of satisfaction with life (i.e., items numbered 4À9) is the dependent variable.
The results are shown in Table 10.3. In "Model 1," only the controls were considered, while "Model 2" included all independent variables. To ensure that multicollinearity was not a problem, we tested for possible collinearity among all variables by using the variance inflation factors (VIF). All VIF values were below the critical value of 10, indicating that multicollinearity was excluded (Hair et al., 2006). The results show that the "Model 2" that included both the controls and the main effects was statistically significant with an adjusted R 2 value of .64 (F 5 39.90; P , .001). Both environmental Effect is significant at the 0.05 level (two-tailed).

CONCLUDING DISCUSSION
The aim of this chapter was to answer the RQ, therefore, examining the effects of environmental pollution and drought on satisfaction with life (as a proxy of well-being) of entrepreneurs in Zambia's mining sector. The analyses of the primary data of 132 respondents showed that environmental pollution and drought have a negative effect on satisfaction with life. Additional analyses show that the effects of environmental pollution and drought on both business' profitability and decision-making are negative as well.
The results involve contributions to the existing literature. On a general level, this chapter may serve among the first to overcome a scholarly disconnection between research fields, which is entrepreneurship (i.e., a social science) and natural sciences. Although in the past, knowledge spillovers within grand science streams such as social sciences (including entrepreneurship and development economics) have little but increasingly occurred (Naudé, 2010) (especially journals, among others, Small Business Economics and Journal of African Economies have met this trend); however, entrepreneurship-as part of social sciences-meeting disaster science-as part of natural sciences-is rather new. Furthermore, on a granular level, more often than not, entrepreneurs' measures to the environment are studied (Choongo et al., 2016Choongo, 2017). In addition, creative responses to natural disasters, often showing that entrepreneurs are willing, able, and capable of starting up and running (new) businesses, are abundantly researched as well (Dutta, 2017;Linnenluecke & McKnight, 2017;Monllor & Murphy, 2017). However, the effects of a changing natural environment, viz., effects from climate change such as natural disasters to the entrepreneur-as a person-are largely overlooked. The focus on satisfaction with life is important because it defines well-being, and, hence, the performance of the entrepreneurs' businesses Lepeley et al., 2019) that, consequently, contributes to overall regional social and economic development (Gries & Naudé, 2010Naudé, 2010;Wennekers et al., 2005). The results of this study provide the detailed insights of what types of environmental pollution (e.g., water pollution, garbage) and drought (e.g., rising temperatures, dropping water levels of rivers) affect the entrepreneurs, in terms of their satisfaction with life and, additionally, their businesses' profitability and decision-making.
What do the results imply for practitioners? Based on the results of environmental pollution and drought, entrepreneurs should know which factors (and to what extent) affect their satisfaction with life, business' profitability, and decision-making. Entrepreneurs could take measures to combat these specific factors of environmental pollution and drought, for example, by not polluting water and arranging garbage collection. At the same time, other practitioners, such as policymakers and educators, should focus on those determining factors of satisfaction with life, business' profitability, and decision-making, as well. By creating policies and education/training programs that mitigate the environmental pollution and drought (e.g., reducing emissions, recycling, and considerate waste disposal), entrepreneurs' satisfaction with life will be improved-which leads as a positive spiral to social and economic development.

LIMITATIONS AND RECOMMENDATIONS FOR FUTURE RESEARCH
This study is constrained by its limitations such as sample selection, size, and location, and the time of the data collection. Without a doubt, different results are found when these constraints are overcome. Therefore, we encourage researchers to defeat these limitations by studying a similar topic with different entrepreneurs, a larger sample and on different locations. Naturally, longitudinal data collections bear different results, allowing observing the effects over time. This would especially be interesting in a scenario of a (sudden) significant change of environmental pollution and drought (e.g., in the midst of and shortly after the peak of the global COVID-19 crisis in 2020), for example, in the case of zero emissions, no water pollution, and no waste disposal. Assessing the scores between entrepreneurs' satisfaction with life of preenvironmental pollution and drought with postenvironmental pollution and drought would allow for making invaluable comparisons.
Moreover, future researchers are encouraged to study the topic of this chapter in different methodological fashions, for example, qualitatively. Focus groups, interviews, and observations would bear deeper and more personal insights into the effects of environmental pollution and drought on satisfaction with life. Ideally, these qualitative insights would provide more contextual information about the topic under study (Saunders, Lewis, & Thornhill, 2009). This could possibly lead to a reconceptualization of, for instance, satisfaction with life, especially in the context of Zambia where certain traditional African values (i.e., "Ubuntu") might be still relevant for everyday life and business practices (West, 2014).