Template-Type: ReDIF-Article 1.0
Author-Name: Horas Djulius
Author-X-Name-First: Horas
Author-X-Name-Last: Djulius
Author-Name: Juanim Juanim
Author-X-Name-First: Juanim
Author-X-Name-Last: Juanim
Author-Name: Ina Ratnamiasih
Author-X-Name-First: Ina
Author-X-Name-Last: Ratnamiasih
Title: Knowledge spillover through foreign direct investment in textile industry
Abstract:
The purpose of this study is to identify whether the foreign direct investment can prompt the occurrence of knowledge spillover on textile companies that was caused by demonstration effect, labour turnover, as well as vertical linkage. The research method used is a mixed method. The result of quantitative approach shows that foreign direct investment indeed prompts the occurrence of knowledge spillover in the textile industry, and the labour turnover causes this. On the other hand, the result of qualitative approach shows that innovation in the textile industry, for the most part, is caused by demonstration effect that was shown by the competitor.
Journal: Int. J. of Economic Policy in Emerging Economies
Pages: 12-25
Issue: 1/2
Volume: 11
Year: 2018
Keywords: foreign direct investment; FDI; knowledge spillover; textile industry; mixed method.
File-URL: http://www.inderscience.com/link.php?id=91026
File-Format: text/html
File-Restriction: Access to full text is restricted to subscribers.
Handle: RePEc:ids:ijepee:v:11:y:2018:i:1/2:p:12-25

Template-Type: ReDIF-Article 1.0
Author-Name: Kwanruetai Boonyasana
Author-X-Name-First: Kwanruetai
Author-X-Name-Last: Boonyasana
Title: Effect of petroleum product prices on Thailand's economic growth
Abstract:
Thailand has long been familiar with price control for petroleum products of economic or social importance. This paper applies the model of Garen et al. (2011) to investigate whether increases in petroleum product prices can reduce real gross domestic product (GDP). Time series analysis of data for the 24 quarters from 2009 to 2014 is used to determine real GDP. Two models use an autoregressive conditional heteroskedasticity process with regard to GARCH(1, 1) and EGARCH, and employ lagged variables to incorporate feedback over time. Price increases for both gasoline with 85% ethanol (E85) and unleaded regular gasoline with research octane number of 91 (UGR91) appear to have a positive effect on real GDP. This might be a result of government subsidies and taxes, including the effect of oil companies' income on real GDP. Contrastingly, low sulphur diesel (LSD) price increases appear to have a negative effect on real GDP.
Journal: Int. J. of Economic Policy in Emerging Economies
Pages: 40-48
Issue: 1/2
Volume: 11
Year: 2018
Keywords: petroleum product; price; economic growth; Thailand; exponential generalised autoregressive conditional heteroskedastic; EGARCH; generalised autoregressive conditional heteroskedasticity; GARCH(1, 1).
File-URL: http://www.inderscience.com/link.php?id=91027
File-Format: text/html
File-Restriction: Access to full text is restricted to subscribers.
Handle: RePEc:ids:ijepee:v:11:y:2018:i:1/2:p:40-48

Template-Type: ReDIF-Article 1.0
Author-Name: Dian Indiyati
Author-X-Name-First: Dian
Author-X-Name-Last: Indiyati
Title: The role of organisational culture, intellectual capital and competitive advantage in supporting the government policies in education
Abstract:
The purpose of this research was to examine and analyse the effect of organisational culture on the intellectual capital and the influence of intellectual capital on competitive advantage in the private universities in Indonesia to support the government policies in education. The research methods applied was the explanatory survey, verification and causal relationship. The samples in this research are 157 private universities, which are obtained using proportional probability sampling technique and power analysis approach. Data collection was carried out by interview, observation, and questionnaire techniques that have been tested for validity and reliability. The analytical test applied structural equation model (SEM)-LISREL 8.3, through the second-order approach. The result of research concluded that organisational culture had significantly influenced intellectual capital, and the intellectual capital had influenced the competitive advantage.
Journal: Int. J. of Economic Policy in Emerging Economies
Pages: 68-82
Issue: 1/2
Volume: 11
Year: 2018
Keywords: competitive advantage; government policies; human capital; intellectual capital; organisational culture.
File-URL: http://www.inderscience.com/link.php?id=91028
File-Format: text/html
File-Restriction: Access to full text is restricted to subscribers.
Handle: RePEc:ids:ijepee:v:11:y:2018:i:1/2:p:68-82

Template-Type: ReDIF-Article 1.0
Author-Name: V. Santi Paramita
Author-X-Name-First: V. Santi
Author-X-Name-Last: Paramita
Author-Name: Horas Djulius
Author-X-Name-First: Horas
Author-X-Name-Last: Djulius
Author-Name: Ardi Gunardi
Author-X-Name-First: Ardi
Author-X-Name-Last: Gunardi
Author-Name: Eka Yulianti
Author-X-Name-First: Eka
Author-X-Name-Last: Yulianti
Title: Testing models of the measuring performance of mutual fund based on single and dual beta
Abstract:
This study aims to test some models of mutual fund performance measurement with regard to the impact of time-varying beta volatility. Testing of models based on three issues: first, the single beta testing; second, dual beta testing; and third determining which model is the most valid and robust. Tests for each models uses a two-pass regression. Testing of comparison model uses a nested model. The research samples were 30 stock mutual funds in the Indonesian capital market period January 2008-December 2012. The results research showed three finding. The first, the single beta testing indicated that these three models were not valid and were not robust. The second, dual beta testing indicated that Treynor-Mazuy model and Paramita model were valid. The third, test of robustness model showed that Paramita model was the most robust than two other models and proved that the market return variable had explanatory power as a determinant factor of mutual fund returns.
Journal: Int. J. of Economic Policy in Emerging Economies
Pages: 26-39
Issue: 1/2
Volume: 11
Year: 2018
Keywords: testing models; single beta; dual beta; time-varying beta volatility.
File-URL: http://www.inderscience.com/link.php?id=91029
File-Format: text/html
File-Restriction: Access to full text is restricted to subscribers.
Handle: RePEc:ids:ijepee:v:11:y:2018:i:1/2:p:26-39

Template-Type: ReDIF-Article 1.0
Author-Name: Jongrak Hong-Ngam
Author-X-Name-First: Jongrak
Author-X-Name-Last: Hong-Ngam
Title: Earnings and engagement of seamen workers
Abstract:
The minimum unit cost for transportation is provided by the merchant marine. These seamen have a high salary and are needed in the current labour market. In fact, the labour market in this sector has a shortage due to a number of limitations, such as the unique job description of this career, as well as that the work takes place offshore, forcing workers to be apart from their families. Factors that influence the income and engagement were hypothesised including economic and psychological factors that conjointly help to determine the income and engagement of a seaman. Mixed methods research was used as a research methodology. Purposive sampling was conducted with 362 seamen who work in a merchant marine company registered in Singapore, and in-depth interviews were also conducted with 14 key informants. The results indicate that not income, but rather non-cognitive skills (NC), are factors that influence the engagement of seamen, with statistical significance for factors such as level of openness, conscientiousness, and internal locus of control.
Journal: Int. J. of Economic Policy in Emerging Economies
Pages: 114-123
Issue: 1/2
Volume: 11
Year: 2018
Keywords: non-cognitive skills; cognitive skills; engagement; merchant marine.
File-URL: http://www.inderscience.com/link.php?id=91030
File-Format: text/html
File-Restriction: Access to full text is restricted to subscribers.
Handle: RePEc:ids:ijepee:v:11:y:2018:i:1/2:p:114-123

Template-Type: ReDIF-Article 1.0
Author-Name: Jin-Young Lee
Author-X-Name-First: Jin-Young
Author-X-Name-Last: Lee
Author-Name: Young-Min Lee
Author-X-Name-First: Young-Min
Author-X-Name-Last: Lee
Title: An exploratory study on employee assistance program for career development counselling
Abstract:
The human resources development strategies are required in terms of strengthening the company's competitiveness in a highly volatile and rapidly changing business environments, occupational structures and labour market structures these days. In this vein, the paper tries to emphasise introduction and activation of career counselling system within companies through an exploratory study on career development/career counselling noting the importance of career development, especially, career development counselling as a tool for human resource development within the organisation. To this end, first of all, the paper examined the existing studies on the concepts and contents of employee assistance program (denoted as EAP) within companies, career counselling and career development. In addition, the paper attempted to propose a career development counselling model and present the effects of the model by introducing counselling cases utilising the counselling model. The paper will propose that EAP career counselling system is one of the practical and affordable institutions for human resource development strategies within the organisation as a long-term sustainable process of companies considering the current situation that relevant career development counselling system or institutions are not implemented properly in most of Korean companies except a few large enterprises or foreign companies.
Journal: Int. J. of Economic Policy in Emerging Economies
Pages: 100-113
Issue: 1/2
Volume: 11
Year: 2018
Keywords: employee assistance program; EAP; career counselling; career development; career development counselling.
File-URL: http://www.inderscience.com/link.php?id=91031
File-Format: text/html
File-Restriction: Access to full text is restricted to subscribers.
Handle: RePEc:ids:ijepee:v:11:y:2018:i:1/2:p:100-113

Template-Type: ReDIF-Article 1.0
Author-Name: Azzurra Rinaldi
Author-X-Name-First: Azzurra
Author-X-Name-Last: Rinaldi
Author-Name: Fabiana Sciarelli
Author-X-Name-First: Fabiana
Author-X-Name-Last: Sciarelli
Title: Economic and social causes for a late development: India vs. Ethiopia
Abstract:
Awareness on the characteristics of a country is often a preliminary requirement for the full understanding of the feasible solutions to its lack of development. The aim of this paper is to study, to analyse and to identify the multiple reasons for a lack of development in two very different areas of the world: Tamil Nadu, in India and Ethiopia, in Africa. The study tries to imagine the best ways to start a development process by the transferral of funds and skills to the deprived areas, with the crucial aim to provide policy indications to those countries that want to undertake the same process. Defining a model of integrated and sustainable development for disadvantaged areas could allow the entire population to experiment better conditions from a social, cultural and economic point of view.
Journal: Int. J. of Economic Policy in Emerging Economies
Pages: 83-99
Issue: 1/2
Volume: 11
Year: 2018
Keywords: development; growth; policies; India; Ethiopia; virtuous cycle; vicious cycle; sustainable development state.
File-URL: http://www.inderscience.com/link.php?id=91032
File-Format: text/html
File-Restriction: Access to full text is restricted to subscribers.
Handle: RePEc:ids:ijepee:v:11:y:2018:i:1/2:p:83-99

Template-Type: ReDIF-Article 1.0
Author-Name: Ajeng Wahyu Puspitasari
Author-X-Name-First: Ajeng Wahyu
Author-X-Name-Last: Puspitasari
Title: Farmer's prosperity: justice or profit?
Abstract:
This paper aims at investigating the implementation of business ethic in order to increase farmer's prosperity. Achieving the objective of the paper, a qualitative approach is used. One of the implementation of Islamic business ethics in farming is the determination of selling price to be fair price. Farmers and traders firstly determine their selling price. The selling price must reflect justice both sides, farmers and traders, so it will create a fair price. Then, the farmers create <i>falah</i> by increasing their prosperity. Finally, the farmers change their perspective that being prosperous is not only about how to get profit but also create <i>falah</i>.
Journal: Int. J. of Economic Policy in Emerging Economies
Pages: 3-11
Issue: 1/2
Volume: 11
Year: 2018
Keywords: achieving <i>falah</i>; creating fair price; implementation of Islamic business ethic; profit; farmer's prosperity.
File-URL: http://www.inderscience.com/link.php?id=91033
File-Format: text/html
File-Restriction: Access to full text is restricted to subscribers.
Handle: RePEc:ids:ijepee:v:11:y:2018:i:1/2:p:3-11

Template-Type: ReDIF-Article 1.0
Author-Name: Isti Raafaldini Mirzanti
Author-X-Name-First: Isti Raafaldini
Author-X-Name-Last: Mirzanti
Author-Name: Togar M. Simatupang
Author-X-Name-First: Togar M.
Author-X-Name-Last: Simatupang
Author-Name: Dwi Larso
Author-X-Name-First: Dwi
Author-X-Name-Last: Larso
Title: Evaluation of emerging entrepreneurship policy
Abstract:
Entrepreneurship improves national competitiveness by creating new businesses, jobs, and innovation. Consequently, entrepreneurship has emerged as a focus of public policy. Government supports entrepreneurship by providing and implementing entrepreneurship policies. The challenging question related to entrepreneurship policy implementation is whether the implemented entrepreneurship policies really affect the intended goals such as increasing the number of entrepreneurs. This descriptive study aims to address the following issues: the criteria used to define entrepreneurship policy; the current evaluation tools to evaluate entrepreneurship policy; and how to evaluate entrepreneurship policy throughout the policy stages. The study focuses on a micro financing program which aims to improve access to capital and other resources for small and micro enterprises. The evaluation is divided into three parts, which are needs evaluation, process evaluation, and outcome evaluation. This study is essential for the development of entrepreneurship and makes a significant contribution to the practice and the science.
Journal: Int. J. of Economic Policy in Emerging Economies
Pages: 49-67
Issue: 1/2
Volume: 11
Year: 2018
Keywords: entrepreneurship policy; evaluation tool; entrepreneurship program evaluation; entrepreneurship.
File-URL: http://www.inderscience.com/link.php?id=91034
File-Format: text/html
File-Restriction: Access to full text is restricted to subscribers.
Handle: RePEc:ids:ijepee:v:11:y:2018:i:1/2:p:49-67

Template-Type: ReDIF-Article 1.0
Author-Name: Nurafni Eltivia
Author-X-Name-First: Nurafni
Author-X-Name-Last: Eltivia
Author-Name: Mohammad Arief Setiawan
Author-X-Name-First: Mohammad Arief
Author-X-Name-Last: Setiawan
Author-Name: Widi Dwi Ernawati
Author-X-Name-First: Widi Dwi
Author-X-Name-Last: Ernawati
Title: Study program's evaluation using data envelopment analysis
Abstract:
The aim of this research was to find the determinant's efficiency of study program in the State Polytechnic of Malang. This research analysed the efficiency of D-3 study program in 2010 to 2014. The efficiency level was measured by data envelopment analysis. The input variables used in this research were number of student, number of lecture, and the budget of fund, while the output were number of research and number of graduate student. Furthermore, each input and output variables were regressed on the efficiency level, in order to know the impact of the variables on the efficiency level. The result showed that number of student gave negative impact on efficiency, while the number of lecture, the number graduate students, the amount of budget of fund, and the number of research gave positive impact.
Journal: Int. J. of Economic Policy in Emerging Economies
Pages: 133-140
Issue: 1/2
Volume: 11
Year: 2018
Keywords: level of efficiency; determinant's of efficiency; study programs; data envelopment analysis; DEA.
File-URL: http://www.inderscience.com/link.php?id=91035
File-Format: text/html
File-Restriction: Access to full text is restricted to subscribers.
Handle: RePEc:ids:ijepee:v:11:y:2018:i:1/2:p:133-140

Template-Type: ReDIF-Article 1.0
Author-Name: M. Yusuf Sulfarano Barusman
Author-X-Name-First: M. Yusuf Sulfarano
Author-X-Name-Last: Barusman
Title: The strategic formulation of competitive advantage on private higher education institution using participatory prospective analysis
Abstract:
This study emphasises the participatory paradigm by using synthesis as a way of thinking in order to achieve its goal. The purposes of this study are to build future scenario of the external environmental dynamics that will be encountered by IPHEI, and to formulate a strategy that can be implemented by IPHEI through developing the organisation's competitive advantage in the future. The research methodology used is participatory prospective analysis (PPA). The results showed that the future scenario of external environmental conditions that will be encountered by IPHEI can be described in three conditions, namely: optimistic, moderate and pessimistic scenarios. The strategic formulation from the research results is based on four internal factors as its foundation (the effectiveness of leadership, the availability of funds and financing, the effectiveness of human resource management strategy, and the relevance of curriculum).
Journal: Int. J. of Economic Policy in Emerging Economies
Pages: 124-132
Issue: 1/2
Volume: 11
Year: 2018
Keywords: competitive advantage; participatory prospective analysis; PPA; private higher education institutions; PHEI; strategic formulation.
File-URL: http://www.inderscience.com/link.php?id=91036
File-Format: text/html
File-Restriction: Access to full text is restricted to subscribers.
Handle: RePEc:ids:ijepee:v:11:y:2018:i:1/2:p:124-132

Template-Type: ReDIF-Article 1.0
Author-Name: Vandana Bhavsar
Author-X-Name-First: Vandana
Author-X-Name-Last: Bhavsar
Author-Name: Abhijeet Sangapurkar
Author-X-Name-First: Abhijeet
Author-X-Name-Last: Sangapurkar
Title: In what way does the construction sector contribute to economic growth? Empirical evidence from India
Abstract:
In its attempt to investigate the change in the demand of the construction industry mix and its impact on the economic growth as India develops, the study tries to analyse the long-run equilibrium relationship between construction subsectors and economic growth using ARDL bounds test to cointegration for the period 1970-2011. The empirical findings indicate that the impact of new construction subsector on the economic growth is greater than that of repairs and maintenance construction subsector in the long run. The findings ratify an assumption that in the upward growth trend in developing countries, the structure of the construction industry tends to conform that of the general economy. Findings have important policy implications for policy makers. To boost employment and enhance the productivity of the industry, the government should efficiently make use of local resources in the development and maintenance of structures in the country.
Journal: Int. J. of Economic Policy in Emerging Economies
Pages: 141-158
Issue: 1/2
Volume: 11
Year: 2018
Keywords: construction sector; new construction works; repair and maintenance works; economic growth; cointegration test; autoregressive distributed lag model; ARDL model; Granger causality test.
File-URL: http://www.inderscience.com/link.php?id=91041
File-Format: text/html
File-Restriction: Access to full text is restricted to subscribers.
Handle: RePEc:ids:ijepee:v:11:y:2018:i:1/2:p:141-158

Template-Type: ReDIF-Article 1.0
Author-Name: Tarek Chebbi
Author-X-Name-First: Tarek
Author-X-Name-Last: Chebbi
Title: The response of oil market to US monetary policy surprises
Abstract:
The impact of monetary policy surprises from the USA on volatility of oil returns are examined over a period of instability from January 5, 2004 through December 31, 2008. Following Kuttner (2001), I use the change in the one-day current-month futures rate at a given date to measure monetary policy news. Using EGARCH model, my results suggest that these shocks are an important driver of the oil market. I find that the volatility reacts in a statistically significant and economically relevant fashion to surprise changes in the target rate. The estimated effect on the volatility is positive. Moreover, I show that the daily changes in federal funds futures rates don't have any role in the dynamics of oil volatility during the sample period. Finally, I also show that all model parameters to be highly significant with higher volatility persistence.
Journal: Int. J. of Economic Policy in Emerging Economies
Pages: 159-168
Issue: 1/2
Volume: 11
Year: 2018
Keywords: federal open market committee; FOMC; US monetary policy surprises; oil returns; conditional variance; EGARCH.
File-URL: http://www.inderscience.com/link.php?id=91043
File-Format: text/html
File-Restriction: Access to full text is restricted to subscribers.
Handle: RePEc:ids:ijepee:v:11:y:2018:i:1/2:p:159-168

Template-Type: ReDIF-Article 1.0
Author-Name: Jeng-Hsiang Lin
Author-X-Name-First: Jeng-Hsiang
Author-X-Name-Last: Lin
Title: Determining the lowest loan-to-value ratio on commercial real estate investment
Abstract:
This study develops a reliability-based decision-making procedure for determining the lowest loan-to-value (LTV) ratio on a commercial real estate investment in seismically active regions. The decision-making of investment is based on two criteria including required rate of return and reliability of return on investment, set by the investor. The uncertainties induced by economic fluctuation of rent market of real estate and random repair cost due to earthquake-induced damages were addressed in this study. Based on the Monte Carlo (MC) simulation technique, a sampling process was repeatedly performed to construct relation curves of LTV ratio versus reliability of required rate of return for various interest rates. These curves can be used as a tool to determine the lowest LTV ratio acceptable under the two criteria set by the investor. An example case is presented to illustrate the decision-making process.
Journal: Int. J. of Economic Policy in Emerging Economies
Pages: 228-237
Issue: 3
Volume: 11
Year: 2018
Keywords: commercial real estate; loan-to-value ratio; investment; decision-making.
File-URL: http://www.inderscience.com/link.php?id=93945
File-Format: text/html
File-Restriction: Access to full text is restricted to subscribers.
Handle: RePEc:ids:ijepee:v:11:y:2018:i:3:p:228-237

Template-Type: ReDIF-Article 1.0
Author-Name: Thanasin Tanompongphandh
Author-X-Name-First: Thanasin
Author-X-Name-Last: Tanompongphandh
Author-Name: Nattapong Puttanapong
Author-X-Name-First: Nattapong
Author-X-Name-Last: Puttanapong
Author-Name: Preesan Rakwatin
Author-X-Name-First: Preesan
Author-X-Name-Last: Rakwatin
Title: Exploring optimal hedging strategy in Thai rice pledging scheme policy
Abstract:
From 2011-2014, the Thai government pledged to buy Thai paddy rice above the market price in order to subsidise Thai rice farmers and push the world rice price higher. However, the volatility of the rice price casts uncertainty over how much the Thai Government fiscal budget will be liable for. Following optimal hedging technique and mean-variance framework, this paper explores a hedging strategy for the Thai Government to protect against risk of price fluctuation. Based on in-sample and out-of-sample testing, result shows that the volatility of the returns decreases after optimally hedged portfolio are created. The results are robust against different estimation methods, namely, OLS, rolling OLS, and MGARCH model.
Journal: Int. J. of Economic Policy in Emerging Economies
Pages: 198-208
Issue: 3
Volume: 11
Year: 2018
Keywords: optimal hedging; rice pledging; rice futures; paddy rice; rough rice futures; rice mortgage scheme.
File-URL: http://www.inderscience.com/link.php?id=93946
File-Format: text/html
File-Restriction: Access to full text is restricted to subscribers.
Handle: RePEc:ids:ijepee:v:11:y:2018:i:3:p:198-208

Template-Type: ReDIF-Article 1.0
Author-Name: Paul-Francois Muzindutsi
Author-X-Name-First: Paul-Francois
Author-X-Name-Last: Muzindutsi
Title: Unexpected social performance and share returns in South African companies: an event study methodology
Abstract:
This paper used event study methodology to analyse whether South African companies' returns are affected by unexpected increases or declines in their social performance. Using daily returns spanning from 2004 to 2014, this study found that abnormal returns of companies added to the South African Socially Responsible Investment (SRI) index for the first time were not statistically significant during the event period. Companies removed from the SRI index earned significant negative abnormal returns. This means that unexpected increases in companies' social performance has no effect on companies' returns; while unexpected declines in companies' social performance tend to affect companies' returns negatively. This study concludes that South African socially responsible investors consider unexpected decline in companies' social performance as bad news.
Journal: Int. J. of Economic Policy in Emerging Economies
Pages: 183-197
Issue: 3
Volume: 11
Year: 2018
Keywords: corporate social performance; responsible investing; event study; share return; SRI index; South Africa.
File-URL: http://www.inderscience.com/link.php?id=93947
File-Format: text/html
File-Restriction: Access to full text is restricted to subscribers.
Handle: RePEc:ids:ijepee:v:11:y:2018:i:3:p:183-197

Template-Type: ReDIF-Article 1.0
Author-Name: Sungeun Cho
Author-X-Name-First: Sungeun
Author-X-Name-Last: Cho
Author-Name: Young-Min Lee
Author-X-Name-First: Young-Min
Author-X-Name-Last: Lee
Title: Downgrading employment of university graduates in Korea and policy implications
Abstract:
This paper examined downgrading employment issues based on existing studies and discussed the causes and solutions regarding the downgrading employment of university graduates. Specifically, this paper will focus on the occurrence of downgrading employment in Korean society. The downgrading employment induced by causes and influential factors have brought about lower utilisation of human resources, reduced productivity, weakening stable labour market, crowding-out effects of labour market due to downgrading employment, and so on. To resolve these problems, efforts should be made to resolve the problem of downgrading employment respectively on each hierarchy encompassing the level of the nation, university and companies, and individuals.
Journal: Int. J. of Economic Policy in Emerging Economies
Pages: 170-182
Issue: 3
Volume: 11
Year: 2018
Keywords: downgrading employment; over-education; policy implication.
File-URL: http://www.inderscience.com/link.php?id=93948
File-Format: text/html
File-Restriction: Access to full text is restricted to subscribers.
Handle: RePEc:ids:ijepee:v:11:y:2018:i:3:p:170-182

Template-Type: ReDIF-Article 1.0
Author-Name: Daniela Novácková
Author-X-Name-First: Daniela
Author-X-Name-Last: Novácková
Author-Name: Lucia Paškrtová
Author-X-Name-First: Lucia
Author-X-Name-Last: Paškrtová
Author-Name: Darina Saxunová
Author-X-Name-First: Darina
Author-X-Name-Last: Saxunová
Title: Investment aid as a catholicon for regional development in Slovakia?
Abstract:
The Slovak Republic may provide the state aid strictly following European Union regulations. Public financial resources of the EU member states are approved for entrepreneurial entities after fulfilling terms explicitly constituted in the EU related to the state aid. Implementing international rules of investment protection and investment support have led to increased foreign direct investments and other foreign investment forms flowing to Slovakia having a positive impact on its economic growth. The objective of this paper emphasising an interdisciplinary focus, (geographic economy, law, finance) highlights essential commensalism of the law via necessity of high quality legislation to secure a safe environment to attract foreign investors to do business in Slovakia. This scientific paper analyses, compares and assesses consequences of the state aid in chosen businesses of selected Slovak regions.
Journal: Int. J. of Economic Policy in Emerging Economies
Pages: 209-227
Issue: 3
Volume: 11
Year: 2018
Keywords: choice of business location; optimal public policy; bilateral treaty and state aid legislation; investors' stimuli.
File-URL: http://www.inderscience.com/link.php?id=93949
File-Format: text/html
File-Restriction: Access to full text is restricted to subscribers.
Handle: RePEc:ids:ijepee:v:11:y:2018:i:3:p:209-227

Template-Type: ReDIF-Article 1.0
Author-Name: Na-Youn Kim
Author-X-Name-First: Na-Youn
Author-X-Name-Last: Kim
Author-Name: Kook-Jae Hwang
Author-X-Name-First: Kook-Jae
Author-X-Name-Last: Hwang
Title: Impact of underwriter reputation on the accounting conservatism of the IPO firm: South Korean cases
Abstract:
We empirically examined whether underwriter reputation is associated with the level of accounting conservatism of IPO firms in South Korea. Financial institutions such as underwriters are motivated to maintain long-term business relationships with firms that appointed them as underwriters, and this relationship is considered more important to ensure a successful IPO process for IPO firms. However, only scant research exists that investigated the relationship between underwriter reputation and the level of accounting conservatism of an IPO firm. This research examined this relationship using both KOSPI and KOSDAQ markets in South Korea. We hypothesised that underwriter reputation is correlated with the level of accounting conservatism of an IPO firm. We examined our hypothesis using a sample of newly listed firms in the KOSPI and KOSDAQ markets from 2006 to 2014. The statistically significant result is that an underwriter with a good reputation indicates an IPO firm with higher accounting conservatism.
Journal: Int. J. of Economic Policy in Emerging Economies
Pages: 238-247
Issue: 3
Volume: 11
Year: 2018
Keywords: IPO; accounting conservatism; reputation.
File-URL: http://www.inderscience.com/link.php?id=93950
File-Format: text/html
File-Restriction: Access to full text is restricted to subscribers.
Handle: RePEc:ids:ijepee:v:11:y:2018:i:3:p:238-247

Template-Type: ReDIF-Article 1.0
Author-Name: Rindu Rika Gamayuni
Author-X-Name-First: Rindu Rika
Author-X-Name-Last: Gamayuni
Title: The effect of internal auditor competence and objectivity, and management support on effectiveness of internal audit function and financial reporting quality implications at local government
Abstract:
Governmental internal auditors have an important function at the central and local government, but the internal audit function is still not effective, and needs to be improved. Therefore, this research aims to examine the effect of the internal auditor competence and objectivity, and management support on the effectiveness of the internal audit function, and its implication on the quality of financial reporting. This research uses survey method with description verification approach, and it is conducted on local government at Java Island, Indonesia. Primary data was statistically tested by using SEM partial least square (PLS). This research has shown that the internal auditor competence and objectivity, and management support have significant influence to the effectiveness of the internal audit function. Moreover, the internal auditor competence and objectivity and the effectiveness of the internal audit function have significant influence to the financial reporting quality.
Journal: Int. J. of Economic Policy in Emerging Economies
Pages: 248-261
Issue: 3
Volume: 11
Year: 2018
Keywords: internal auditor competence; objectivity; management support; effectiveness of internal audit function; financial reporting quality.
File-URL: http://www.inderscience.com/link.php?id=93951
File-Format: text/html
File-Restriction: Access to full text is restricted to subscribers.
Handle: RePEc:ids:ijepee:v:11:y:2018:i:3:p:248-261

Template-Type: ReDIF-Article 1.0
Author-Name: Anang Muftiadi
Author-X-Name-First: Anang
Author-X-Name-Last: Muftiadi
Title: Food crops production efficiency analysis in Indonesia in 1971-2008
Abstract:
Food crops market in Indonesia is very large. But its slow growth and contribution to economy indicate a negative trend of this subsector efficiency. This study aims to determine, explain and predict the tendency of the efficiency of food crops subsector efficiencies in Indonesia, specifically rice and other food crops. The method used is based time series Leontief input-output table in technology coefficient changes, as approach of cost efficiency in production. The results showed that the efficiency of rice subsector production during 1971-2008 decreased very sharp. The efficiency of other food crops subsector production (beans, corn, vegetables and fruits and other food crops that are not mentioned previously) show an increase in efficiency. It is indicate that other food crops subsector in Indonesia is more attractive than the rice subsector. Both subsectors tend to be more inefficient in the future if no fundamental government policy to support.
Journal: Int. J. of Economic Policy in Emerging Economies
Pages: 282-291
Issue: 3
Volume: 11
Year: 2018
Keywords: Leontief input-output; technology coefficient; cost efficiency.
File-URL: http://www.inderscience.com/link.php?id=93952
File-Format: text/html
File-Restriction: Access to full text is restricted to subscribers.
Handle: RePEc:ids:ijepee:v:11:y:2018:i:3:p:282-291

Template-Type: ReDIF-Article 1.0
Author-Name: Paul-Francois Muzindutsi
Author-X-Name-First: Paul-Francois
Author-X-Name-Last: Muzindutsi
Author-Name: Jhalukpreya Surujlal
Author-X-Name-First: Jhalukpreya
Author-X-Name-Last: Surujlal
Title: Housing property market and tourism accommodation in South Africa: time series analysis
Abstract:
This study tested the relationship between tourism accommodation and South African property market for small, medium and large houses. The sample period consists of 101 monthly time series from January 2007 to May 2015. Three different autoregressive distributed lag (ARDL) models were used to test for the short-run and long-run relationships between the income from tourism accommodation and housing property prices. This study provides empirical evidence supporting the long-run relationships between tourism accommodation and the South African property market for large and medium houses. This implies that the demand for tourism accommodation is affected by changes in housing property prices in the long-run and, in turn, the growth of the tourism industry tends to affect the property prices in the long-run. Analysis of the short-run relationships showed that housing prices have a significant short-run effect on tourism accommodation but the tourism sector does not have a short-run effect on the property market. This study further found that there are no short-run interactions between the tourism accommodation and property market for small houses. This study concluded that the property market is among the key determinants of growing demand for tourism accommodation in South Africa.
Journal: Int. J. of Economic Policy in Emerging Economies
Pages: 270-281
Issue: 3
Volume: 11
Year: 2018
Keywords: tourism accommodation; property prices; autoregressive distributed lag; ARDL; time series; South Africa.
File-URL: http://www.inderscience.com/link.php?id=93953
File-Format: text/html
File-Restriction: Access to full text is restricted to subscribers.
Handle: RePEc:ids:ijepee:v:11:y:2018:i:3:p:270-281

Template-Type: ReDIF-Article 1.0
Author-Name: Annarviya Phutcharinya
Author-X-Name-First: Annarviya
Author-X-Name-Last: Phutcharinya
Author-Name: Jongrak Hong-Ngam
Author-X-Name-First: Jongrak
Author-X-Name-Last: Hong-Ngam
Author-Name: Supunnee Ungpansattawong
Author-X-Name-First: Supunnee
Author-X-Name-Last: Ungpansattawong
Author-Name: Panutporn Ruangchoengchum
Author-X-Name-First: Panutporn
Author-X-Name-Last: Ruangchoengchum
Title: Guidelines for voluntourism development: a case study of undergraduate student activities in the Northeast of Thailand
Abstract:
This paper aims to study guidelines for voluntourism development, a case study of undergraduate student activities in the Northeast of Thailand. This study used qualitative research methodology through informal and formal interviews and participant observation in addition to a wide literature analysis. The results found that most universities had the policies of promoting volunteer activities of students. The motivations and characteristics of students who participated in these activities included a spirit of service and sacrifice, self-development, and cultural understanding. Therefore, the universities, government agencies, and the private sector, especially the Ministry of Tourism and Sports should set clear policies to support voluntourism and increase students' motivation to engage in creative voluntourism. The ministry can also increase the income gained from voluntourism in Thailand, particularly from tourists who are students by developing tourism products that are consistent with the needs and expectations of the tourists.
Journal: Int. J. of Economic Policy in Emerging Economies
Pages: 262-269
Issue: 3
Volume: 11
Year: 2018
Keywords: guidelines; voluntourism; undergraduate; student activities; Northeast of Thailand; volunteer; motivations; characteristics; universities; expectations of tourists.
File-URL: http://www.inderscience.com/link.php?id=93954
File-Format: text/html
File-Restriction: Access to full text is restricted to subscribers.
Handle: RePEc:ids:ijepee:v:11:y:2018:i:3:p:262-269

Template-Type: ReDIF-Article 1.0
Author-Name: Siwapong Dheera-aumpon
Author-X-Name-First: Siwapong
Author-X-Name-Last: Dheera-aumpon
Title: Resource misallocation in Thai manufacturing industries between 1996 and 2011
Abstract:
This paper uses plant-level data from Thailand censuses to study the extent of resource misallocation across plants within the same industry and its effect on aggregate productivity in Thai manufacturing sector between 1996 and 2011. The findings indicate that resource misallocation in Thai manufacturing industries has not been improved but worsened. If resource misallocation is reduced to the level observed in the USA, aggregate manufacturing productivity would increase by about 64% in 1996, 73% in 2006, and 83% in 2011. The automotive industry greatly contributes to this productivity gain in recent years.
Journal: Int. J. of Economic Policy in Emerging Economies
Pages: 306-311
Issue: 4
Volume: 11
Year: 2018
Keywords: misallocation; distortion; manufacturing; productivity; total factor productivity; TFP; Thai; Thailand.
File-URL: http://www.inderscience.com/link.php?id=94517
File-Format: text/html
File-Restriction: Access to full text is restricted to subscribers.
Handle: RePEc:ids:ijepee:v:11:y:2018:i:4:p:306-311

Template-Type: ReDIF-Article 1.0
Author-Name: Sam'un Jaja Raharja
Author-X-Name-First: Sam'un Jaja
Author-X-Name-Last: Raharja
Title: Opportunistic behaviour on institution of textile industry: West Java-Indonesia experience
Abstract:
The textile industry occupies a strategic position in the Indonesian economy in the value of exports and employment. But now, many textile industries company have a decline competitiveness and business closure due to high production costs. Four major causes of the problems are: inadequate infrastructure, lack of the banking support, the availability of energy and the problems of bureaucracy and institutional practice. Institutional practice in the form of formal and informal rules that should be complementary, cannot work well. Dysfunction of formal and informal rules in the textile industry give slit opportunistic behaviour for the parties involved which in turn causes high costs assured by the company.
Journal: Int. J. of Economic Policy in Emerging Economies
Pages: 323-332
Issue: 4
Volume: 11
Year: 2018
Keywords: competitiveness; costs; formal rules; informal rules; dysfunction; opportunistic behaviour; Indonesia.
File-URL: http://www.inderscience.com/link.php?id=94518
File-Format: text/html
File-Restriction: Access to full text is restricted to subscribers.
Handle: RePEc:ids:ijepee:v:11:y:2018:i:4:p:323-332

Template-Type: ReDIF-Article 1.0
Author-Name: Lina Anatan
Author-X-Name-First: Lina
Author-X-Name-Last: Anatan
Title: An institutional perspective of knowledge transfer within university and industry alliance
Abstract:
University to industry knowledge transfer within university-industry alliance has become an essential element of the research endeavours both in academic institutions and industrial sectors. It contributes significant resources, not only financial resources but also intellectual resources, to the companies related. By managing it, they expected to invest on the development of university research and business research capabilities on current research strength, and to link the research strength to solve the problem within the industry which leads to the improvement of performance, not only of the companies, but also the academic institutions' performance. This paper discusses and develops some propositions of university to industry knowledge transfer within university and industry alliance that explain antecedents (knowledge attributes, organisational attributes, network attributes) and consequence of university to industry knowledge transfer and the role of uncertainties that might affect the relationship between university to industry knowledge transfer and the alliance performance. Institutional perspective is used to develop some proposition to explain the relationships between variables in the proposed framework of university to industry knowledge transfer.
Journal: Int. J. of Economic Policy in Emerging Economies
Pages: 378-395
Issue: 4
Volume: 11
Year: 2018
Keywords: university to industry knowledge transfer; alliance performance; institutional theory.
File-URL: http://www.inderscience.com/link.php?id=94519
File-Format: text/html
File-Restriction: Access to full text is restricted to subscribers.
Handle: RePEc:ids:ijepee:v:11:y:2018:i:4:p:378-395

Template-Type: ReDIF-Article 1.0
Author-Name: Angrita Denziana
Author-X-Name-First: Angrita
Author-X-Name-Last: Denziana
Author-Name: Erwin Octavianto
Author-X-Name-First: Erwin
Author-X-Name-Last: Octavianto
Title: The challenges to achieve commonwealth in an industrial area: case study in Bandar Lampung industrial area
Abstract:
In many countries, most of the companies in the industrial area, which is engaged in the manufacturing, agribusiness and agro-industries, believe that corporate social responsibility (CSR) is an investment which has positive impact in the form of growth and sustainability development towards the company. Ironically, the practices of CSR are just implemented as 'cosmetics', do good on the surface but turned out to be just lip service, sheer polish, and done only as a global fulfilment without substance distribution for economic welfare, social and environmental sustainability. The aim of this study is to evaluate the beneficial impact of CSR activities on community that lives around these kinds of companies in the Bandar Lampung industrial area by using consumer satisfaction index. This study is expected to provide recommendations for the policy model to create a commonwealth between companies and community that lives among the area.
Journal: Int. J. of Economic Policy in Emerging Economies
Pages: 355-366
Issue: 4
Volume: 11
Year: 2018
Keywords: corporate social responsibility; CSR; commonweal; Bandar Lampung industrial area.
File-URL: http://www.inderscience.com/link.php?id=94520
File-Format: text/html
File-Restriction: Access to full text is restricted to subscribers.
Handle: RePEc:ids:ijepee:v:11:y:2018:i:4:p:355-366

Template-Type: ReDIF-Article 1.0
Author-Name: Ria Arifianti
Author-X-Name-First: Ria
Author-X-Name-Last: Arifianti
Title: Retail mix strategies of hypermarkets in Bandung, West Java, Indonesia
Abstract:
There have been significant developments in modern retail, particularly in Bandung, which have led to increased competition among retailers. Retail mix strategies of the hypermarket retailers in Bandung are studied to understand their competitive practices. This study is a descriptive research. Data is collected from literature reviews and field studies, where in the latter involves observation and interviews with representatives of the retailers and consumers. It is found that the retail mix strategies have worked well. Despite such achievements, it is also found that product placements leave much to be desired. Listed and actual cashier prices are at times inconsistent. Similar issues are also found in discount prices. Discount periods are also erratic. For instance, a product is listed on display as discounted but such discount is not accounted at the cashier. Quality-wise, discounted products are less desirable, tending to fail within a short period of time following purchase.
Journal: Int. J. of Economic Policy in Emerging Economies
Pages: 396-410
Issue: 4
Volume: 11
Year: 2018
Keywords: retail; modern retail; retail mix strategies; competition; retailers; consumers; product; discount; cashier; hypermarkets.
File-URL: http://www.inderscience.com/link.php?id=94521
File-Format: text/html
File-Restriction: Access to full text is restricted to subscribers.
Handle: RePEc:ids:ijepee:v:11:y:2018:i:4:p:396-410

Template-Type: ReDIF-Article 1.0
Author-Name: Alessia Vacca
Author-X-Name-First: Alessia
Author-X-Name-Last: Vacca
Author-Name: Hiroko Onishi
Author-X-Name-First: Hiroko
Author-X-Name-Last: Onishi
Title: Transparency and privacy in environmental matters
Abstract:
The main theme of this paper is the examination of the current EU legal framework for open data in relation to environmental matters and its transparency. The paper will explore a number of benefits that transparency can bring to beneficiaries. The purpose of this paper is two-fold: the first part of the paper will deal with the efficacy of EU legislation in ensuring there is a sufficient level of transparency in communicating the environmental data openly to the public. The Aarhus Convention grants a wider scope of right of access to environmental information. The second part of the paper will look at possible adverse effects that transparency can bring to the individual and society as a whole. The paper will focus on exploring the conflicting interests between disclosure of the environmental data and potential harms caused to the individuals, such as deterioration of protection of the right to privacy.
Journal: Int. J. of Economic Policy in Emerging Economies
Pages: 333-343
Issue: 4
Volume: 11
Year: 2018
Keywords: environment; transparency; privacy; Aarhus Convention; open data; directive 2003/4/EC; EU legislation; energy efficiency; energy sector; transparency in revenue; the right to privacy&#44; Article 8 of the European Convention of Human Rights.
File-URL: http://www.inderscience.com/link.php?id=94522
File-Format: text/html
File-Restriction: Access to full text is restricted to subscribers.
Handle: RePEc:ids:ijepee:v:11:y:2018:i:4:p:333-343

Template-Type: ReDIF-Article 1.0
Author-Name: Pornchai Wisuttisak
Author-X-Name-First: Pornchai
Author-X-Name-Last: Wisuttisak
Author-Name: Mia Mahmudur Rahim
Author-X-Name-First: Mia Mahmudur
Author-X-Name-Last: Rahim
Title: ASEAN energy sector under public-private partnership: challenge for market governance
Abstract:
The paper explicates the rising role of private-public partnerships (PPPs) in the ASEAN energy sector. PPPs are an important factor in this sector; as such partnerships have stimulated the decreasing roles of state enterprises, and raised some complicated issues regarding the convergence of the roles of state-owned enterprises and PPPs in this sector. This paper elaborates these issues and highlights the progress in the energy sector governance in ASEAN countries. It suggests some ideas and plans for managing PPPs, the market power held by the SOEs, and the competition law and policy for the ASEAN energy sector.
Journal: Int. J. of Economic Policy in Emerging Economies
Pages: 312-322
Issue: 4
Volume: 11
Year: 2018
Keywords: private-public partnerships; PPPs; competition law and policy; ASEAN; infrastructure sectors.
File-URL: http://www.inderscience.com/link.php?id=94523
File-Format: text/html
File-Restriction: Access to full text is restricted to subscribers.
Handle: RePEc:ids:ijepee:v:11:y:2018:i:4:p:312-322

Template-Type: ReDIF-Article 1.0
Author-Name: Pradit Withisuphakorn
Author-X-Name-First: Pradit
Author-X-Name-Last: Withisuphakorn
Title: Relationship between CSR and financial performance: the first comparative study on listed companies in Thailand and the USA
Abstract:
Corporate social responsibility (CSR) is gaining more popularity and becoming realistic strategies for corporate value creation and play increasing roles for sustainable socio-economic development. If the rule is right, we can painlessly create the condition for win-win social lead business model globally. There are two key areas in this study: first, the relationship between internal factors and CSR implementation and second, the relationship between CSR and potential revenue in the future. Result from the first area of study indicates that the bigger firm size and higher capital investment per total asset have a positive impact leading to increases in the CSR rating. On second area of study, I have found that higher CSR ratings or CSR implementation associate with higher revenues in the future. Thus, CSR is proved to be a valuable investment option (not perishable expenses) for smart and sustainable firms.
Journal: Int. J. of Economic Policy in Emerging Economies
Pages: 367-377
Issue: 4
Volume: 11
Year: 2018
Keywords: corporate social responsibility; CSR; social enterprises; financial performance; Thai and US listed companies; sustainable development.
File-URL: http://www.inderscience.com/link.php?id=94524
File-Format: text/html
File-Restriction: Access to full text is restricted to subscribers.
Handle: RePEc:ids:ijepee:v:11:y:2018:i:4:p:367-377

Template-Type: ReDIF-Article 1.0
Author-Name: So-Young Kim
Author-X-Name-First: So-Young
Author-X-Name-Last: Kim
Author-Name: Young-Min Lee
Author-X-Name-First: Young-Min
Author-X-Name-Last: Lee
Author-Name: Ji-Hyun Shim
Author-X-Name-First: Ji-Hyun
Author-X-Name-Last: Shim
Title: Comparative study of outplacement programs for building effective operation
Abstract:
This study is performed to compare current Korean outplacement programs to find out effective support methods for retired middle aged workers due to restructuring. From the results, the paper suggests the following. First, conducting advance outplacement education program before retirement should be presupposed. Second, the outplacement program should be developed on the basis of national competency standards (NCS). Third, the ways of enhancing easy access of the retirees should be explored by systematical networking job change based on the job information and recruiting and job-seeking sites which are operated individually by industry sectors.
Journal: Int. J. of Economic Policy in Emerging Economies
Pages: 344-354
Issue: 4
Volume: 11
Year: 2018
Keywords: outplacement; career transition; middle-age retiree; elderly retiree.
File-URL: http://www.inderscience.com/link.php?id=94525
File-Format: text/html
File-Restriction: Access to full text is restricted to subscribers.
Handle: RePEc:ids:ijepee:v:11:y:2018:i:4:p:344-354

Template-Type: ReDIF-Article 1.0
Author-Name:  Amelia
Author-X-Name-First: 
Author-X-Name-Last: Amelia
Author-Name:  Ronald
Author-X-Name-First: 
Author-X-Name-Last: Ronald
Title: Efforts to enhance active cooperatives in Indonesia based on macroeconomic variables
Abstract:
Cooperative is a group of people that allow several people or legal entity working together on a basic of voluntary held a job to improve the lives of its members (Sagimun, 2005). The purpose of this study is to look at the effect of macroeconomic variables, namely the level of income per capita, unemployment rate, education level, poverty level, average expenditure per capita and human development index of 33 provinces in Indonesia to the number of active cooperatives in every province in Indonesia. In addition, this study uses the sample data from every province in Indonesia with the time span from 2006 to 2013. This study uses a quantitative approach using Multiple Regression through SPSS 16. The results of this study can be utilised by the government, especially the Ministry of Cooperatives and SMEs, public and non-governmental organisations in a joint effort to increase Indonesian cooperatives in facing the internationalisation.
Journal: Int. J. of Economic Policy in Emerging Economies
Pages: 411-422
Issue: 4
Volume: 11
Year: 2018
Keywords: active cooperation; unemployment rate; education level; level of poverty; human development index; HDI; expenditure per capita; per capita income; Indonesia.
File-URL: http://www.inderscience.com/link.php?id=94526
File-Format: text/html
File-Restriction: Access to full text is restricted to subscribers.
Handle: RePEc:ids:ijepee:v:11:y:2018:i:4:p:411-422

Template-Type: ReDIF-Article 1.0
Author-Name: Sasitorn Wachirapanyapong
Author-X-Name-First: Sasitorn
Author-X-Name-Last: Wachirapanyapong
Title: Approach to enhance Thai massage business in Ang Thong Province
Abstract:
This research aimed at creating a standard business plan adhering to the standards of traditional Thai massage. The results showed that most massage businesses required beauty, cleanliness, serenity and comfort to attract clients. The client's needs included stress relief, pain treatment, private areas, security and cleanliness of massage equipment. The business plan focused on location and environment with equipment, human resources, operations, quality control and service management. This business was considered as profitable because the return of the investment was high and fast. To illustrate, the investment structure from the business plan was divided into 75% of the fixed costs classified into building decoration (45%), material (15%) and office stationery (15%), while 25% of the variable costs were related to employees' salary (10%), rental locations (4%), utilities (2.5%), management fees (5%) and other expenses (3.5%), respectively. The return on investment (ROI) was 13.22% with a break-even point within six months.
Journal: Int. J. of Economic Policy in Emerging Economies
Pages: 295-305
Issue: 4
Volume: 11
Year: 2018
Keywords: traditional Thai massage; business plan; business approach; massage business; massage business in Ang Thong.
File-URL: http://www.inderscience.com/link.php?id=94527
File-Format: text/html
File-Restriction: Access to full text is restricted to subscribers.
Handle: RePEc:ids:ijepee:v:11:y:2018:i:4:p:295-305

Template-Type: ReDIF-Article 1.0
Author-Name: Rafik Harkati
Author-X-Name-First: Rafik
Author-X-Name-Last: Harkati
Author-Name: Fekri Ali Shawtari
Author-X-Name-First: Fekri Ali
Author-X-Name-Last: Shawtari
Author-Name: Abdelkader Laallam
Author-X-Name-First: Abdelkader
Author-X-Name-Last: Laallam
Title: Determinants of growth: evidence from the Malaysian ACE market
Abstract:
This paper examines if Gibrat's Law holds for the Malaysian ACE market (access, certainty, and efficiency). It aims to shed light on the empirical determinants of firm growth by extending the literature to include a new variable related to liquidity constraints. Also, the age of the firm is examined for the manner in which it helps explain a firm's growth dynamics. The sample used is a balanced panel data set that covers all firms that managed to survive (84 companies) for the 2008 to 2014 period. By employing panel data modelling (fixed effect), the findings suggest that Gibrat's Law cannot be accepted for the Malaysian ACE market firms as large firms grow faster than small ones. The findings also show that firms listed on this market are extremely financially constrained and that firm growth is mainly explained by firm size, age and liquidity constraints. These results have significant policy implications and require further actions by authorities and policymakers to assess the viability of this market to achieve its objectives.
Journal: Int. J. of Economic Policy in Emerging Economies
Pages: 423-440
Issue: 5
Volume: 11
Year: 2018
Keywords: growth; size; Gibrat's Law; liquidity constraints; ACE/MESDAQ market; Malaysia.
File-URL: http://www.inderscience.com/link.php?id=94802
File-Format: text/html
File-Restriction: Access to full text is restricted to subscribers.
Handle: RePEc:ids:ijepee:v:11:y:2018:i:5:p:423-440

Template-Type: ReDIF-Article 1.0
Author-Name: Muhammad Sofjan
Author-X-Name-First: Muhammad
Author-X-Name-Last: Sofjan
Title: The relationship between trade liberalisation, poverty and inequality: the case of Indonesia
Abstract:
We provide a detailed investigation of the relationship between trade liberalisation, poverty and inequality in Indonesia by using provincial panel data from urban-rural regions. We use three models: an income model, a Gini model and a poverty model. The results were analysed using a simultaneous equations model and a data panel. After testing and analysing, it can be concluded that liberalisation of trade in Indonesia has proven to be able to lift most of the poor above the poverty line by creating job vacancies due to trade relations. However, trade is not able to reduce income inequality in Indonesia. Factors which significantly affect the level of inequality in Indonesia are the ratio of the number of workers in the non-governmental sector and the infrastructure, while the degree of trade openness and income growth is not significantly associated with inequality. Trade openness in Indonesia does not affect inequality.
Journal: Int. J. of Economic Policy in Emerging Economies
Pages: 441-456
Issue: 5
Volume: 11
Year: 2018
Keywords: liberalisation; poverty; inequality; panel data; Indonesia.
File-URL: http://www.inderscience.com/link.php?id=94803
File-Format: text/html
File-Restriction: Access to full text is restricted to subscribers.
Handle: RePEc:ids:ijepee:v:11:y:2018:i:5:p:441-456

Template-Type: ReDIF-Article 1.0
Author-Name: Rayenda Brahmana
Author-X-Name-First: Rayenda
Author-X-Name-Last: Brahmana
Author-Name: Jia Hui Tan
Author-X-Name-First: Jia Hui
Author-X-Name-Last: Tan
Title: Disclosing risk information by Malaysian firms: a trend and the determinants
Abstract:
This study examines the determinants of disclosing risk information for a sample of 144 listed firms in Malaysia over 2010-2014. Using fixed effect panel regression with robust white test to control the standard error, we find that the size, leverage, growth are the factors for the company to disclose more risk information. Interestingly, profitability has no significant contribution on risk disclosure. These findings gives implication to the policy maker and industry that the implementation of risk disclosure as part of good corporate governance might not be smooth because only big size firms, good leverage firms and high growth firms are the firms that would disclose their risk information.
Journal: Int. J. of Economic Policy in Emerging Economies
Pages: 457-469
Issue: 5
Volume: 11
Year: 2018
Keywords: risk disclosure; voluntary disclosure; corporate risk; Malaysia.
File-URL: http://www.inderscience.com/link.php?id=94804
File-Format: text/html
File-Restriction: Access to full text is restricted to subscribers.
Handle: RePEc:ids:ijepee:v:11:y:2018:i:5:p:457-469

Template-Type: ReDIF-Article 1.0
Author-Name: Bambang Hadinugroho
Author-X-Name-First: Bambang
Author-X-Name-Last: Hadinugroho
Author-Name: Tulus Haryono
Author-X-Name-First: Tulus
Author-X-Name-Last: Haryono
Author-Name:  Payamta
Author-X-Name-First: 
Author-X-Name-Last: Payamta
Author-Name: Irwan Trinugroho
Author-X-Name-First: Irwan
Author-X-Name-Last: Trinugroho
Title: Leverage, firm value and competitive strategy: evidence from Indonesia
Abstract:
We study the agency theory by re-examining the effect of financial leverage on firm value. Moreover, we introduce a contingency variable: firm competitive strategy. To do so, we study non-financial firms listed on the Indonesia Stock Exchange from 2007 through 2013, resulting in 2,438 observations. Using the panel data technique, after controlling for firm-specific characteristics and industry differences, we find that leverage has a positive effect on firm value. Going deeper, we find that this effect is stronger for firms that apply a cost leadership strategy, differentiation strategy, or focused strategy.
Journal: Int. J. of Economic Policy in Emerging Economies
Pages: 487-508
Issue: 5
Volume: 11
Year: 2018
Keywords: firm value; financial leverage; competitive strategy; agency theory; Indonesia.
File-URL: http://www.inderscience.com/link.php?id=94806
File-Format: text/html
File-Restriction: Access to full text is restricted to subscribers.
Handle: RePEc:ids:ijepee:v:11:y:2018:i:5:p:487-508

Template-Type: ReDIF-Article 1.0
Author-Name: Arie Pratama
Author-X-Name-First: Arie
Author-X-Name-Last: Pratama
Title: Does corporate governance affect related-party transactions? A study on Indonesian companies listed on the Indonesian Stock Exchange in 2011-2015
Abstract:
This research's purpose was to investigate corporate governance variables and whether they affect related-party transactions (RPTs). We used seven proxies for corporate governance variables: ownership concentration, directors' compensation, size of the board of directors, number of independent commissioners, audit firm, size of the audit committee and debt ratio. We used age, size and profit as control variables. This research employed the explanatory quantitative method. The final sample consisted of 223 companies listed on the IDX. The research took five year's firm data (2011-2015), making a total of 1,115 observations. To test the hypotheses, we used multiples regression. The research showed that the corporate governance variables showed mixed results, in which not all of the proxies had a significant effect on RPTs. The research model can explain 49.32% of the variability in RPTs and was considered to be fit.
Journal: Int. J. of Economic Policy in Emerging Economies
Pages: 470-478
Issue: 5
Volume: 11
Year: 2018
Keywords: corporate governance; related-party transaction; RPT.
File-URL: http://www.inderscience.com/link.php?id=94807
File-Format: text/html
File-Restriction: Access to full text is restricted to subscribers.
Handle: RePEc:ids:ijepee:v:11:y:2018:i:5:p:470-478

Template-Type: ReDIF-Article 1.0
Author-Name: Renáta Pitoňáková
Author-X-Name-First: Renáta
Author-X-Name-Last: Pitoňáková
Title: Demand for private sector loans in the euro area
Abstract:
The current expansionary monetary policy of the European Central Bank stimulates corporates and households to higher investment and consumption. The article investigates determinants of demand for loans of private sector granted by monetary financial institutions of the euro area. The modelling involves monthly data of cost of borrowing and economic indicators (2004 M1-2016 M4). The outcomes suggest that private sector loans are positively related to industrial production index and negatively to real interest rate and producer price index. The knowledge about determinants of loans of private sector is of importance for monitoring and steering economic and monetary policy of the euro area and for households and corporates timing the use of debt finances from the monetary financial institutions.
Journal: Int. J. of Economic Policy in Emerging Economies
Pages: 509-518
Issue: 5
Volume: 11
Year: 2018
Keywords: private sector loans; interest rate; industrial production index; IPI producer price index; PPI; cointegration.
File-URL: http://www.inderscience.com/link.php?id=94808
File-Format: text/html
File-Restriction: Access to full text is restricted to subscribers.
Handle: RePEc:ids:ijepee:v:11:y:2018:i:5:p:509-518

Template-Type: ReDIF-Article 1.0
Author-Name: Chandra Hendriyani
Author-X-Name-First: Chandra
Author-X-Name-Last: Hendriyani
Author-Name: Sam'un Jaja Raharja
Author-X-Name-First: Sam'un Jaja
Author-X-Name-Last: Raharja
Title: Analysis building customer engagement through e-CRM in the era of digital banking in Indonesia
Abstract:
Transformations in technology triggered by many companies have changed their platform to business digitisation and involved the customers to improve competitiveness by creating proximity and fast response. This transformation into digitisation will encourage customer engagement. Customer engagement is conducted via e-CRM application supported by the database, website, e-mail and social media marketing as a tool to develop customer intimacy. This study is intended to illustrate forms of e-CRM which is used to develop customer engagement in the banking industry in Indonesia. The method used in this study was qualitative research with descriptive approach. The data collection techniques applied by conducting the observation and literature study. The results show that the use of internet technology in banking such as website, customer service online, e-mail and social media marketing found significant relationships that pursue sustainability. Thus, it indicates that the implementation of e-CRM obviously has created engagement and solutions for customers.
Journal: Int. J. of Economic Policy in Emerging Economies
Pages: 479-486
Issue: 5
Volume: 11
Year: 2018
Keywords: customer engagement; e-CRM; social media; website; Indonesia.
File-URL: http://www.inderscience.com/link.php?id=94820
File-Format: text/html
File-Restriction: Access to full text is restricted to subscribers.
Handle: RePEc:ids:ijepee:v:11:y:2018:i:5:p:479-486

Template-Type: ReDIF-Article 1.0
Author-Name: Hans Wiesmeth
Author-X-Name-First: Hans
Author-X-Name-Last: Wiesmeth
Title: Strengthening competitive forces in Russian mandatory health insurance
Abstract:
The Russian healthcare system has experienced significant reforms since the early 1990s. The traditional Semashko system of the Soviet Union was replaced by a more decentralised and insurance-based system, which in turn was augmented and modified several times with the goal to strengthen competitive forces for better quality of healthcare, to open equal access to quality medical care, in particular. Nevertheless, despite these serious attempts, the actual situation is still far from this goal. A serious lack of financial means, and framework conditions, which are not in favour of strong competitive forces, have to be blamed in the first place. In this context, a rigorous formal analysis is applied to provide insight into the competitive forces in Russian mandatory health insurance. The paper investigates first the current system. Thereafter, a modified system with more possibilities of competition will be proposed. Besides an increase in funding, this modified system requires structural changes in comparison to the current system. The results obtained refer to existence of equilibria and their structural, efficiency and fairness properties, which are of relevance for the further development of the Russian healthcare system.
Journal: Int. J. of Economic Policy in Emerging Economies
Pages: 560-576
Issue: 6
Volume: 11
Year: 2018
Keywords: Russian healthcare system; health insurance; competition; mandatory membership; locational equilibrium; healthcare quality; incentive mechanism.
File-URL: http://www.inderscience.com/link.php?id=95924
File-Format: text/html
File-Restriction: Access to full text is restricted to subscribers.
Handle: RePEc:ids:ijepee:v:11:y:2018:i:6:p:560-576

Template-Type: ReDIF-Article 1.0
Author-Name: Sergey M. Kadochnikov
Author-X-Name-First: Sergey M.
Author-X-Name-Last: Kadochnikov
Author-Name: Anna A. Fedyunina
Author-X-Name-First: Anna A.
Author-X-Name-Last: Fedyunina
Title: Explaining the performance of Russian export: what role does the soft and hard infrastructure play?
Abstract:
In this paper, we estimate the effects of 'hard' and 'soft' infrastructure on export performance in Russian regions. We use data for export flows from 20 Russian regions to 124 countries in 2002-2010. Empirical estimates employ continuous-time Cox model and discrete-time complementary log-log and probit models and account for size and time effects for export flows. We find positive effects of hard and soft infrastructure that are falling over time and are more important for larger exporters. This paper contributes to the literature by demonstrating potential gains from investments into 'hard' infrastructure and improvements in 'soft' infrastructure for export performance in the Russian economy.
Journal: Int. J. of Economic Policy in Emerging Economies
Pages: 541-559
Issue: 6
Volume: 11
Year: 2018
Keywords: export performance; export survival; hard infrastructure; soft infrastructure; Russian regions; Russia.
File-URL: http://www.inderscience.com/link.php?id=95930
File-Format: text/html
File-Restriction: Access to full text is restricted to subscribers.
Handle: RePEc:ids:ijepee:v:11:y:2018:i:6:p:541-559

Template-Type: ReDIF-Article 1.0
Author-Name: Anastasiya Sudakova
Author-X-Name-First: Anastasiya
Author-X-Name-Last: Sudakova
Title: Current status of higher education in the regions of Russia: a pilot study
Abstract:
The article introduces a methodology for higher education assessment in territories with the status of constituent federal subjects and shows the effect of its application in Russia. The monitoring procedure of the indicative figures of HE groups can be divided into two units: the operating conditions and status of HE infrastructure and the status of educational and scientific research in the HE system. Conducted over a five-year period, the analysis showed no direct correlation between growth of investment and education quality. The gap in the growth rate of financing in some regions is several times wider. Obviously, there is a discrepancy between the leading receivers and leaders in education quality. This addresses the need to reform the regulation of the higher education system, particularly with respect to setting priorities for its development and the improvement of financial and economic mechanisms.
Journal: Int. J. of Economic Policy in Emerging Economies
Pages: 577-595
Issue: 6
Volume: 11
Year: 2018
Keywords: higher education; HE; indicative analysis; the Russian Federation; the RF; operating conditions and status of the HE infrastructure; educational and scientific research activities in the HE system; Russia.
File-URL: http://www.inderscience.com/link.php?id=95931
File-Format: text/html
File-Restriction: Access to full text is restricted to subscribers.
Handle: RePEc:ids:ijepee:v:11:y:2018:i:6:p:577-595

Template-Type: ReDIF-Article 1.0
Author-Name: Ekaterina Oparina
Author-X-Name-First: Ekaterina
Author-X-Name-Last: Oparina
Author-Name: Alisa Panenko
Author-X-Name-First: Alisa
Author-X-Name-Last: Panenko
Author-Name: Anna Kalinina
Author-X-Name-First: Anna
Author-X-Name-Last: Kalinina
Title: Empirical analysis of civil servants wage and maintenance setting: evidence from Perm region
Abstract:
At a time of public expenditure cuts the issue of how public sector workers should be remunerated is of central importance. The paper presents an approach to wage and maintenance cost setting for municipal employees. Norm setting allows creating equal and fair conditions for local administrations, optimising the structure and number of municipal employees, attracting qualified personnel. To determine the best mechanism for establishing the norm, we analyse the key features of the existing methods, formulate criteria for municipalities grouping and create the formula for norm calculating. Norm setting methodology is empirically tested, based upon 2013 data for the 339 municipalities of Perm region, and policy implications of the results are discussed.
Journal: Int. J. of Economic Policy in Emerging Economies
Pages: 596-609
Issue: 6
Volume: 11
Year: 2018
Keywords: norm setting; public service; municipal finance; public finance; municipal workers wage; wage setting; public sector labour market; Perm region.
File-URL: http://www.inderscience.com/link.php?id=95932
File-Format: text/html
File-Restriction: Access to full text is restricted to subscribers.
Handle: RePEc:ids:ijepee:v:11:y:2018:i:6:p:596-609

Template-Type: ReDIF-Article 1.0
Author-Name: Natalia Davidson
Author-X-Name-First: Natalia
Author-X-Name-Last: Davidson
Author-Name: Oleg Mariev
Author-X-Name-First: Oleg
Author-X-Name-Last: Mariev
Title: The impact of spatial concentration on enterprise performance: is localisation level optimal in Russia?
Abstract:
This paper empirically analyses the effect of spatial concentration of economic activities on enterprise productivity, using Russian firm-level data from 1999 to 2008. Panel data allows us to control for endogeneity biases associated with estimation of agglomeration economies, using fixed effects method. Our results show that Russian firms benefit from localisation and urbanisation economies, as well as from home market potential, and that these benefits vary across industries and cities. We also find that localisation benefits are not well internalised by firms in their location choice, i.e., there is a difference between the pattern of location that would maximise productivity gains and the observed one. It shows that regional policy could help in approaching optimum level of localisation economies.
Journal: Int. J. of Economic Policy in Emerging Economies
Pages: 522-540
Issue: 6
Volume: 11
Year: 2018
Keywords: spatial concentration; localisation; urbanisation; home market potential; HMP; enterprise productivity; Russian cities.
File-URL: http://www.inderscience.com/link.php?id=95933
File-Format: text/html
File-Restriction: Access to full text is restricted to subscribers.
Handle: RePEc:ids:ijepee:v:11:y:2018:i:6:p:522-540