International Journal of Economics and Business Research (69 papers in press)
Empirical Relation between Unemployment and Alcohol Beverage Consumption in Korea
by Myeong Hwan Kim, Yongseung Han, Won-Gil Cho
Abstract: This paper examines the relationship between the consumption of popular alcoholic beverages and a macroeconomic variable, unemployment, in the Republic of Korea. This study uses data for South Korea from 1994 to 2013. The authors examine how alcohol consumption habits change with fluctuations in the unemployment rate. Granger casual models will be applied to those relationships where there are significant correlations to determine whether economic activity causes drinking. The results from this analysis indicate substantial causal interactions between unemployment rate and drinking behavior. Based upon our result, we suggest some policy implications: government spending on the prevention and education of alcohol misuse, retraining of unemployed workers and a higher tax on alcohol beverages.
Keywords: Unemployment; Alcohol Consumption; Macroeconomic Conditions; Granger Causality.
Causality between economic growth and investment in the United Arab Emirates
by Salem Al-Jundi, Mohammed Guellil
Abstract: The study aims to work out the exact pattern of causality between economic growth rate and each of investment categories in the United Arab Emirates. Causality is examined by numerous researchers. However, few have studied the relationship between growth and investment at macroeconomic level. To the best of my knowledge no one investigates this topic in the UAE. We demonstrate long-term effects of the investment shares in non-oil gross domestic product on economic growth using cointegration and Granger causality tests on time series data. The findings indicate unidirectional causality from private investment to non-oil GDP growth rate, from business investment to non-oil GDP growth rate, and from public investment to government investment. The results could be a good tool for policy priorities in which the private sector, within a dynamic open market, is the strongest engine to expand the non-oil economy, especially in the wake of the sharp decline in oil prices.
Keywords: CCausality; Economic Growth; Investment; Private sector; Non-oil GDP; Unit Root; Cointegration; Granger causality test; United Arab Emirates.
Monotone vs. non-monotone incentive structures: An experimental analysis
by Christian Lukas
Abstract: This paper reports results from an experiment studying contract choice and effort provision under different contracts in a long-term agency relationship. Principals can choose between a theoretically optimal non-monotone contract N and a monotone contract M. Agents in general provide more effort under M than under N. Information about incentive compatibility further increases effort provision under contract M but not under contract N. However, principals who constantly select contract N realize the highest payoffs.
Keywords: contract choice; agency; effort; experiment; non-monotone; incentives.
Revisiting the Asset Pricing Paradigm using Sustainable Growth Rate
by Lalit Arora, Shailendra Kumar, Piyush Verma
Abstract: Last few decades have evidenced growing literature on asset pricing in building perceptive thinking of managers and researchers. Given this justification, the present study aims to examine the ability of a future oriented growth measure of firms in the form of sustainable growth rate in explaining their stock returns. A panel data set of firms spanning across nine industries from the Indian manufacturing sector has been used. Results of vector autoregressive distributed lag model reveal that sustainable growth of the firms is adequately priced. The findings have been integrated with the asset growth effect. Theoretical and practical implications are discussed.
Keywords: Sustainable growth rate; asset growth; asset pricing; panel VAR model; manufacturing; India.
Synergy and Value in Economic Organization
by Michael Filzmoser
Abstract: Conceptual literature and empirical studies suggest important interdependencies among activities as well as relations between the costs and the rent potential of activities and the governance mode applied. To account for ben-efits as well as costs of activities simultaneously this paper introduces a val-ue perspective. Furthermore synergies and conflicts within bundles of ac-tivities are considered in the choice of appropriate governance modes for these activities. The concepts of synergy and value in of activity bundles are defined for economic organization and illustrated by a numerical example. Based on the interpretation of the results we present possible applications and limitations of the proposed approach as well as opportunities for future research.
Keywords: value; synergy; transaction costs; economic rents; theory of the firm; internalization; subcontracting; networks; governance modes; economic organization.
Overview of state and perspectives of the energy sector case of Croatia
by Zoran Wittine, Matea Babic
Abstract: Paper provides a comprehensive overview of characteristics and importance of energy sector in general. It provides insights into economic effects of energy sector, its developmental potentials as well as its downside, i.e. negative externalities. In the end, authors deal with states and perspectives of Croatian energy sector and briefly review what effects has the accession to the European Union had on energy sector in general and what developments are likely to be seen in the future.
Keywords: Croatia; EU; energy; oil; natural gas; economic development.
A Study of the Interaction between Exchange Rates and Stock Market Prices
by Mihir Dash, Ajit Sahu
Abstract: This study examines the interaction between exchange rates and stock market prices in some developed economies (viz. Australia, Japan, Canada, United Kingdom, United States, Hong Kong, and Switzerland) and some emerging economies (China and Brazil). The study period considered is from 01/01/2007 to 23/07/2012, and the study is based on weekly data. The results of the study provide evidence of uni-directional Granger causality of exchange rates on stock market returns, except in cases of China and Canada. The results support the flow-oriented model, which suggests that changes in exchange rates cause changes in stock prices, and provide evidence against the portfolio balance model, which suggests that stock market movements cause changes in the exchange rate.
Keywords: exchange rates; stock market prices; Granger causality; flow-oriented model; portfolio balance model.
Determinants of NREGS Participation and Perceived Livelihood Benefits: A Comparative Analysis of Two Backward Districts of West Bengal in India
by Krishna Singh, SOUMYENDRA KISHORE DATTA
Abstract: The National Rural Employment Guarantee Scheme (NREGS) was launched in the year 2006, in coherence with the pursuit of the objective of removing poverty and unemployment. The paper attempts to analyse the determinants of households participation in NREGS and perceived livelihood benefits from this program. However households decision for participation in NREGS jobs is influenced by various socio-economic factors. In this context a logit regression model has been used to analyse the determinants of households participation in NREGA program. A simultaneous equation model has been used to show the endogenous relationship between employment days per household and perceived livelihood benefits from NREGS. Empirical analysis reveals that factors like income from other sources, amount of land holding, level of education and amount of livestock have significant inverse association with the likelihood of households participation.It is also observed from the study that, although income earned from the NREGS is able to meet some sort of food expenses of rural people, it has neither served to meet their educational expenses in an adequate manner nor helped generate assets to a substantial extent.
Keywords: NREGS; Participation; Employment days; Asset; households.
Towards an understanding of Students behavioral intention to take virtual lectures in UAE universities
by Ahmed Shuhaiber
Abstract: The electronic trend of university teaching has recently transformed the learning style to become more learner-centered, and has popularized virtual lectures as an adjunct or alternative to traditional lectures. Despite its potential and popularity, virtual lectures have low adoption rates in UAE universities, and little is known about students acceptance and usage of virtual lectures in the country, and in non-western countries in general. Thus, this research aimed to fill this gap by studying the factors that influence students willingness to accept virtual lectures in one Emirati University. A quantitative approach was followed, by extending the UTAUT model, obtaining 78 survey responses (as a pilot study), and statistically testing the associated hypotheses. Results revealed that effort expectancy, performance expectancy, social influences, and self-efficacy could positively influence students attitudes towards virtual lectures. Moreover, facilitating conditions and attitudes towards virtual lectures have positive impact on students intention to take virtual lectures. Theoretical and practical implications are indicated, and directions of future research are specified afterwards.
Keywords: E-Learning; Online Live Learning; Students’ Acceptance; Virtual Lectures; Web-based Learning Systems.
Determinants of FDI in South Asia: Does Corruption Matter?
by Kirti Gupta, Shahid Ahmed
Abstract: The present study is an attempt to investigate the impact of corruption on foreign direct investment (FDI) inflows in the South Asian region. It aims to find out whether the perceived levels of corruption impede or stimulate FDI inflows. This is done through an analysis of panel data on various factors of FDI for five South Asian economies-Bangladesh, Nepal, India, Pakistan and Sri Lanka ranging from 1998 to 2015. The study uses panel data estimation methodologies in order to draw inferences. The results of our analysis show that an increase in levels of corruption neither induce FDI nor does it impede corruption, indicating that corruption does not matter in the determination of FDI flows. The enlarging size of the economy stands out as the major factor determining FDI flows that buttresses the theory of market seeking FDI.
Keywords: Corruption; Foreign direct investment; South Asia; Panel Data.
CRAFTING EMPLOYABILITY STRATEGY IN SKILLS-DRIVEN LABOUR MARKETS
by Mahmoud Askari, Abdelkader Mazouz, Ghaleb El Refae
Abstract: In this paper, we propose that universities could facilitate the employability of their graduates by utilizing the three main university functions of teaching and learning, research, and community engagement. Our approach is built on the assumption that the role of universities in the success of their graduates might exceed the transmission of theoretical knowledge in a typical classroom and should go beyond their graduation ceremony. The professional life journey of students starts after graduation and as soon as they start their trained-for careers in the labour market. To reach that happy end of starting the desired future career, universities have a role to play in making the dream of a good job come true. Thus, we argue that the four years period that students spend in getting their bachelor degrees should include a mixture of theoretical knowledge, applied skills, and a taste of work in real life organizations.
Keywords: Employability; Strategy; Labour Markets; Applied Skills.
LISTING STOCKS ON DERIVATIVES MARKET OF NSE AND ITS IMPACT ON LIQUIDITY OF SPOT MARKET
by Lakshmi VDMV, Medha Joshi
Abstract: The study attempts to examine the impact of listing selected stocks on Futures & Options (F&O) segment of NSE on the spot market liquidity using Illiquidity ratio (Amihud, 2002) and volume as measures of liquidity. The study investigates the long term and short term liquidity effects in the event of both listing announcement day and actual listing day. An effort is also made to test if there is improvement in post futures liquidity of those stocks which are illiquid during pre-futures period and vice versa. Results indicate significant increase in long term liquidity of majority of the stocks. However, there is no evidence of such significant change in the short term liquidity. There is a clear evidence of significant improvement in long run liquidity of the stocks in the first two quartiles indicating that the stocks which are illiquid before futures became liquid after futures. However, there is a marginal decrease in the long run liquidity of already liquid stocks. The results of short run liquidity also are almost in support of this. The results for announcement day and listing day are also almost the same. Mixed results are observed in case of single stock options.
Keywords: Single Stock Futures; Single Stock Options; Illiquidity Ratio; F&O Segment; Long Term Liquidity; Short Term Liquidity; Liquidity Effects; Trading Volume; Dollar Trading Volume; Spot Market; Derivatives Market.
EVALUATING THE USEFULNESS OF E-LEARNING MANAGEMENT SYSTEM DELIVERY IN HIGHER EDUCATION
by Maha Rahrouh, Nasser Taleb, Elfadil Mohamed
Abstract: Education is the foundation of modern societies for an individual, and a well-delivered education usually yields a successful and prosperous career. Recently, emphasis has been on the quality of learning and teaching in the classroom. Teaching is the core activity and responsibility of any academic institution. Teaching must be accountable to all stakeholders including students. In fact, learning management systems (LMS), such as Modular Object-Oriented Dynamic Learning Environment software known as Moodle, has been used to improve teaching and student learning experience. This paper examines the use of LMS as a course delivery system and an electronic assessment (e-assessment) tool for improving the learning process. The study analyzed educators perspective on the use of Moodle based on effectiveness, helpfulness, user-friendly interface design, and flexibility in delivering online courses. Quantitative and qualitative data were collected using a survey questionnaire from 81 instructors from five colleges of Al Ain University of Science and Technology (AAU) who have been involved in using LMS for the delivery of courses. The respondents agreed, in general and independent of their college affiliation, that the functionality of the LMS is effective; reliable, usable, maintainable and efficient. In addition, respondents showed a positive attitude toward using the LMS and dedicating specialized trainers according to users needs.
Keywords: Learning Management System; Moodle; e-assessment.
Evaluating Short- and Long-term Effectiveness of Capital Expenditure in the Subnational Governments: Evidence from U.S. States
by Sungchan Kim
Abstract: Over the decades, the importance of capital expenditure has been increasingly discussed because capital expenditure can increase the capacity or efficiency of an organization in both the short and the long term. However, few previous studies have focused on the effectiveness of capital expenditure on economic growth at the subnational level, such as that of state governments in the United States. Thus, in this paper, I investigate whether capital expenditure in U.S. state governments is effective in terms of economic growth. In addition, this paper aims to examine the effectiveness of capital expenditure in both the short and the long term. The empirical results suggest that capital expenditure has a positive impact on economic growth in the short and the medium term. Therefore, for subnational governments such as state governments in the United States, increase in capital expenditure is an influential fiscal tool for economic growth.
Keywords: capital expenditure; economic growth; fiscal policy for subnational governments; short- and long-term effectiveness of fiscal policyrn.
Examining the Factors Affecting the Adoption of e-Health Innovative Technology
by Jamil Razmak, Abdallah Al Shawabkeh, Faten Kharbat, Amer Qasim
Abstract: In today's world, many modern health facilities have started using e-health with the aim of improving health services by managing its costs, patient waiting time, and other services. Nevertheless, there are numerous studies exploring barriers of e-health adoption. Concentrating on innovation in healthcare industry, the present study explores the external factors that predict patients behavioral intention to use Personal Health Record (PHR) as an important part of electronic patient-physician relationship. Empirical research is used to identify a conceptual framework illustrating the relation between patients behavioral intention and the proposed factors: governmental incentives, physician support and hospital management support. The framework is tested by using data collected from Canada as a case study through a well-designed survey. The results of multiple in regression analysis indicate that the proposed factors were significantly predicted the perceived ease of use and perceived usefulness of PHR innovative technology. The perceived usefulness factor was significantly predicted in the behavioral intention to use PHR. Some procedures and actions should be considered by government and healthcare policy makers to manage the adoption and support the usage of PHR application. rnrn
Keywords: Innovative technology; Personal health record; Governmental incentives; Physician support; Hospital management support; Behavioral intention.
Outside Directors on the Board, Competition and Innovation
by Achim Buchwald, Susanne Thorwarth
Abstract: We investigate the influence of non-executive outside directors on firms innovative performance for a sample of 1,393 listed firms in the EU-15 member states plus Norway and Switzerland in the period 2005 to 2010. Our results show that the fraction of non-executive outside directors on the board is associated with a significant decrease in the number of patent applications if competition in the market is low. This may indicate that restrictive monitoring and lower advising competences of outside directors mitigate executives incentives to innovate. In industries with effective competition, the negative influence of outsiders is offset by the pressure to focus on innovation strategies. Finally, the results are significant for continental European firms but not for the subsample of UK firms pointing to differences in the impact of specific governance systems with respect to innovation.
Keywords: Competition; Corporate Governance; Innovation; Patents; Board Composition; Outside Directors.
Psychological Empowerment as a Stimulus of Organizational Commitment and Quality of Work-Life: A Comparative Study between Egypt and India
by Tarek A. El Badawy, Shalini Srivastava, Mariam M. Magdy
Abstract: Psychological empowerment is how employees view themselves relative to their superiors and work environments. Successfully influencing the construction of a positive perception will allow employers to reap organizational rewards from their employees. Statistic results are hardly generalizable as they depend on the work environment studied, the prevailing cultures and individual characteristics. The aim of this study was to conduct comparative analyses between two samples extracted from Egypt and India on the constructs psychological empowerment, organizational commitment and quality of work-life. Data was collected from several MBA classes to achieve the objective of diversity. Insightful results, practical implications and future research directions are provided.
Keywords: Psychological empowerment; Organizational commitment; Quality of work-life; Organizational psychology; Comparative study; Egypt; India.
Users' Perceptions towards the Quality of Learning Resources and Services: A case study of AAU Libraries
by Raed Said, Abdoulaye Kaba
Abstract: This study investigates and analyzes the current performance of libraries at Al Ain University of Science and Technology (AAU). The paper explores the perceptions of students and faculty members towards quality resources and services provided by AAU libraries. The study uses a modified SERVPERF model for the measurement. SERVPERF model is based on five dimensions: reliability, quality assurance, tangible, empathy, and responsiveness (Cronin & Taylor, 1992). Data are collected through a survey questionnaire. A total of 657 students and faculty members participated in the study. T-test and ANOVA test are used to validate four hypotheses. Participants expressed average satisfaction with the quality of resources and services provided by AAU libraries. However, the libraries failed to reach the highest satisfaction among the users. Findings of the study indicate no significant difference in perception towards the quality performance of AAU libraries between male and female, and also respondents from different locations or different colleges. However, the results revealed statistically significant differences in perception between faculty and students towards the current performance of AAU libraries.
Keywords: performance measure; service quality; quality measure; SERVPERF; libraries; learning resources; universities; academic institutions; United Arab Emirates.
Do high brand equity and very high brand equity require different conditions? An empirical study using fsQCA
by Pedro Torres, Mário Augusto, Pedro Godinho
Abstract: This research was performed to investigate the necessary and sufficient conditions to obtain different degrees of brand equity. The results show that different configurations and different levels of the antecedent conditions are necessary and sufficient when analyzing high and very high levels of consumer-based brand equity. Although brand loyalty could be sufficient to achieve high consumer-based brand equity, to obtain very high consumer-based brand equity the joint presence of very high brand loyalty and very high perceived quality is necessary. These findings show that the phenomenon of brand equity is complex and that a linear approach could be insufficient to understand it fully. Furthermore, the findings enable marketing managers to be more effective and efficient in the pursuit of their goals, by shedding some light on the necessary and sufficient conditions to obtain different levels of brand equity.
Keywords: Brand equity; brand loyalty; perceived quality; brand awareness; fsQCA; qualitative comparative analysis; fuzzy sets; configurational analysis.
THE EFFECT OF EARNING PERSISTENCE AND COMPONENTS OF EARNING ON THE PREDICTABILITY OF EARNING: EVIDENCE FROM AN EMERGING MARKET
by Ahmed Abousamak
Abstract: This study investigates the relationship between persistence of earning and the components of earning on the predictability of earning in an emerging market after the adoption of International Financial Reporting Standards IFRS. The sample firms consist of 143 nonfinancial firms listed on the Egyptian stock exchange during the period 2008-2015. The current study uses three models to investigate the phenomenon. The study confirms the persistence of earning for the sample firms. However, the accrual component has more persistence than the cash flow component. The results imply that the persistence of accrual is affected by their faithful representation as less faithful representational accrual components have lower persistence than more faithful representational accrual components. Most prior studies have tested the phenomenon in developed markets. The paper extends the literature that addresses the second fundamental quality of qualitative characteristics of accounting information, (i.e., faithful representation and its effect on accounting numbers).
Keywords: Earning Persistence; Cash flow; Accrual; Working Capital Accrual; Non-Current Operating Accrual; Financial Accrual; Emerging Market; Egypt.
Foreign direct investment and economic growth in Bahrain: cointegration and causality tests
by Fuad Kreishan, Mohammad Selim, Ibrahim Alhawarin
Abstract: The principle objective of this study is to investigate empirically the relationship between foreign direct investment (FDI) and gross domestic product (GDP) for Bahrain over the period of 1982-2014. For this purpose, the study employed Engle-Granger cointegration and Granger causality tests. The results of cointegration tests clearly indicate a long-run positive relationship between FDI and economic growth in Bahrain. Moreover, the causality tests reveal that the direction of causality runs from FDI to GDP. Thus, the results conclude that attracting FDI into the country will play a vital role in stabilizing the economy and achieving long run economic growth goals for Bahrain.
Keywords: Keywords: Economic Growth; Cointegration test; FDI; Granger causality; Bahrain.
Mechanical functioning of the Saudi Economy in the Context of The National Transformation Plan and its Impacts on Macroeconomic Variables in Saudi Arabia
by Abdessalem Gouider, Sahbi Gabsi
Abstract: The aim of this paper is to investigate the mechanical functioning of the Saudi economy in the context of the National Transformation Plan (NTP) and its impacts on most of the macroeconomic variables in Saudi Arabia. In line with the NTP, which is based mainly on promoting economic freedom, we apply the Fully Modified Ordinary Least Square (FMOLS) approach to measure the impact of the economic freedom on non-oil GDP (proxy of economic growth) through the transmission channels, including Foreign Direct Investment (FDI), Openness, Government spending, and Unemployment from 1996 to 2015. The empirical results show that there is a significant positive relationship between economic growth and economic freedom in Saudi Arabia. However, the transmission channels effects of the economic freedom index on the non-oil GDP in Saudi Arabia are slightly low. We suggest that policy-makers should implement more incentive measures to improve the Saudi economy rank within the economic freedom index.
Keywords: Saudi Arabia’s Vision 2030; National transformation Program; economic freedom; economic growth; unemployment; FDI; FMOLS approach.
DOES TRADE OPENNESS AFFECT BANKING SECTOR DEVELOPMENT IN JORDAN?
by Alaaeddin Al-Tarawneh, Ghazi Al-Assaf
Abstract: The main concern of this paper is to explore the potential effect of trade openness on different financial development indicators, especially in banking sector. Using Jordanian data, the study has found evidence of significant positive effects of trade openness on the growth of various financial development indicators, especially credit to private, total liabilities ratio, total deposits ratio, and financial depth, over the period 1964 to 2014. The empirical results indicate that there is a long-run relationship between trade openness indicator and each financial development indicator, except total deposits ratio. These results are obtained using a cointegration analysis, the E-G procedure within the ECM framework. The E-G results show trade liberalisation has a significant effect on the growth of credit to private sector indicator, financial assets ratio, and financial depth.
Keywords: Trade openness; Banking development; Engel Granger procedure; ECM; Granger causality test; Jordan.
Deterministic Inventory models with Non- linear time- dependent and stock- dependent Holding cost under non- increasing time sensitive Demand
by RAKESH TRIPATHI
Abstract: Researchers in the past have presented their EOQ (Economic Order Quantity) models by considering that the demand rate is constant. However, it is not always true. This paper deals with an inventory model for non- linear induced demand rate. Holding cost is considered as (i) a non- linear stock- dependent and (ii) a non- linear time induced. The optimal solution is derived in both cases. Numerical examples are discussed indicating the effects of non- linearity in holding cost and demand.
Keywords: Stock- dependent demand; Non- linear; inventory; time- induced; optimal; total cost.
Multifactor Asset Pricing Model Incorporating Coskewness and Cokurtosis: The Evidence from Asian Mutual Funds
by Nathee Naktnasunaknjn, Pornchai Chunhachinda, Chaiyuth Padungsaksawasdi
Abstract: This research adds cokurtosis risk factor as a new factor into Moreno and Rodriguez (2009) five-factor model to be six-factor model to evaluate the equity mutual fund performance of three selected countries in AsiaChina, Singapore, and Thailand as representatives of fast growing Asian countries. To my knowledge, this is the first research to incorporate both coskewness and cokurtosis risk factors into Carhart (1997) four-factor model, to become a six-factor model, to explain the equity mutual fund returns. The result shows that coskewness risk factor show significance in Singapore for mutual fund evaluation. There are some little sign of mild support for the pricing of cokurtosis in Singapore and Thailand too. In China, even coskewness is not statistically but shows economically significantly difference at 2.7% per month. Adding coskewness and cokurtosis risk factors in CAPM or Carhart (1997) four-factor model show little increment in the explanatory power of the models.
Keywords: Multifactor; Asset Pricing; Coskewness; Cokurtosis; Mutual Fund; Higher Moment.
Developing and Validating Scales to Measure University Students Attitudes, Academic and Social Integration, and Social Identity in Multicultural Classrooms
by Samir Dukmak, Bihan Qaimari, Hamza Doudeen
Abstract: Multicultural classrooms are widespread at college or university levels in many countries around the world. This is particularly interesting to educational psychologists and educational experts. Multicultural classrooms should always be investigated in order to create a more productive classroom environment, healthy relationships among students, better academic integration and better developed social identity. The main objective of this research is to develop three scales that investigate students attitudes, academic integration, social integration and social identity in relation to cultural diversity at university level. A sample of 417 students from Al Ain University of Science and Technology in the UAE participated in this study by responding to the three developed scales. These scales were validated using content and construct validity procedures. Similarly, reliability procedures of the scales were investigated. To the best of the researchers knowledge, these scales will be the first of their kind that assess university students attitudes, academic integration, social integration and social identity in multicultural classrooms.
Keywords: Attitudes; academic integration; social integration; social identity; cultural diversity; multicultural classrooms.
Technical efficiencies of Indonesian regional and non-regional banks pre- and postfinancial crisis
by Nury Effendi, Maman Setiawan, Rina Indiastuti
Abstract: This research investigates technical efficiencies of Indonesian banks operating regionally and nationally pre- and post- financial crisis in 2008. The data envelopment analysis (DEA) with bootstrapping approach is applied to estimate the technical efficiency. This study uses 119 banks listed in the Indonesian Central Bank of Indonesia and Financial Service Authority (OJK) with period from 2005 to 2014. Following the role of the banks, the technical efficiency is estimated using an intermediation approach. The results show that the banks are technically inefficient, on average. Overall, the average technical efficiency of the regional banks is lower than the non-regional banks. Also there are significant differences of the technical efficiencies of the regional, non-regional and all banks between pre- and post-financial crisis. Further, the differences of the technical efficiencies between regional and non-regional banks are significant only in all periods and post-financial crisis. In addition, the regional banks operating in the Java islands have higher average technical efficiency compared to the regional banks operating outside the Java island, although the difference is only significant in the period before the financial crisis.
Keywords: technical efficiency; bootstraping approach; regional banks; non-regional banks; pre- and post- financial crisis.
Competition or Cooperation: A Case Study of the 2005 Employee Discount Pricing Promotions in the U.S. Automobile Industry
by Prasun Bhattacharjee
Abstract: This paper considers the widely successful Employee Discount Pricing (EDP) promotional program of 2005 to uncover the nature of competition in the U.S. automobile industry, with a specific focus on the Big Three automakers. In contrast to previous research on automobile competition, this paper uses quarterly average dealer-level transaction price data to capture the short term nature of inter-firm competition that might be embedded in such promotional programs. In doing so, a structural oligopoly model of differentiated products is set up explicitly incorporating the nature of competitive interactions. Results imply that the overall nature of competitiveness in the U.S. automobile industry is consistent with a static model of Bertrand behavior without any changes in conduct among the Big Three during the EDP promotion period. These results corroborate the problems of inventory backlog faced by the Big Three in recent years and indicates that the EDP program has been more of a novel marketing intent on part of the Big Three to clear up such backlogs.
Keywords: Structural oligopoly; Product differentiation; Competition; Collusion; Employee Discount Promotion; Market structure.
How big data is used in expanding marketing activities
by Mohammed Nuseir
Abstract: The question of big data has attracted attention in the academic world as has its importance in practice. Big data is about the massive volume of zettabytes information, and it is captured in different sources, in various formats and as per the time. The concept of data ownership has been explored with regard to information presented in big data. Social media technologies and larger integration of the systems has made it possible to gather information from different sources. This study examined the role of big data in determining the activities and functions of marketing. Marketing does not end with segmentation, but it entails distribution of the products. The amount of information generated becomes more complex with the use of distribution systems that generate more data in the system.
A case study approach was adopted where the phenomenon was examined by examining companies that employ big data in managing their marketing activities. These cases denoted that increased reliance on big data in understanding consumer buying process and hence helping in increasing shaping marketing planning activities. It is evident that the area of big data in marketing activities requires more attention to explore and contribute to existing literature on the same.
Keywords: Big-data; Automation; Integrated; Information.
IMPACT OF MISLEADING/FALSE ADVERTISEMENT TO CONSUMER BEHAVIOR
by Mohammed Nuseir
False or misleading advertisements have, in the recent past been on the rise as a result of businesses seeking to compete for customers. It would appear that presentation of false information has gradually been adopted as a major marketing strategy by some organizations, and it is becoming a new normal. It is, however, worth noting that such false information are never helpful to the customers who soon realize that they acted (by buying goods or services) on the basis of information that cannot be verified nor validated.
Accuracy should entail full disclosure of all information because this is crucial in the marketing field where consumers expect to make informed decisions. The regulations on advertisement and marketing illegalize use of false or misleading representation or symbol for quality, quantity, date of manufacture, methods of use, content, price, place of origin, the manufacturer, processor or place for a product either in an advertisement or other platforms.
In this study, it has been found that while misleading advertisements tend to provide overtly more positive information than is necessary, such positivity tends to result in a negative experience for customers. Studies are expanding in the roles of false and misleading information that form the content of advertisements. This study has explored the importance of enhancing marketing activities through truthful facts, to ensure that the functions of the organization (especially outward facing activities like marketing) are believable and thus helpful to customers to make the right decisions. The study emphasizes the importance of buyer being aware of key information about a product or services through careful search during the buyer decision process.
Keywords: False; Fake; Misleading; Buyer Behavior; Buying process.
MANAGING ACADEMIC INSTITUTIONS BY ENHANCING STUDENT EXPERIENCE
by Bayan Yousef Farhan
Abstract: Student experience or, in a more sensible terminology, customer satisfaction is a current issue in higher education leadership. This paper discusses how academic leaders can deal with and develop positive experiences among students as providers of a key source of revenue. The paper proposes some strategic recommendations to guide the management process of enhancing student experience and satisfaction. Adopting an effective strategic planning philosophy and implementing competitive strategies to enhance student experience could increase the competitiveness of academic institutions and have the potential to sustain an important source of revenue. But different academic institutions may require different strategies, since each academic institution has its own circumstances and conditions. Therefore, this paper attempts to answer the question of how to manage the challenge of improving student experience and satisfaction.
Keywords: Student Experience; Customer Satisfaction; Competitive Strategies.
Main Drivers of Economic growth: A Sectoral Approach to GDP Growth in Egypt
by Heba Y. Hashem, Heidi Aly, Sarah A. Mansour
Abstract: The increasing attention of the Government of Egypt, since the 2011 Revolution, to achieve sustainable and inclusive growth has given a renewed stimulus to research on economic growth from a sectoral perspective. In this paper, we investigate the main sectors that drive economic growth in Egypt in various time periods by adopting an econometric modeling strategy. In particular, we attempt to answer the following questions: what are the sectors that led economic growth in Egypt during the high-growth period? Were these sectors resilient to shocks? What are therefore the sectors of high priority that policy makers should direct efforts to in order to achieve sustainable inclusive high growth rates? The findings of the regression model reveal a significant role for both the manufacturing and the agriculture sector in promoting economic growth, with a 1% increase in the output of the manufacturing sector being capable of increasing GDP by 0.17%, while, the same increase in the output of the agriculture sector resulting in an increase in GDP by 0.15%.
Keywords: Economic Growth; Sectoral Analysis; Growth Scenarios; Egypt; Econometric Modeling; Linear Regression.
A note on the Nelson-Cao inequality constraints in the GJR-GARCH model: Is there a leverage effect?
by Stavros Stavroyiannis
Abstract: The majority of the stylized facts of financial time series and several Value-at-Risk measures are modeled via univariate or multivariate GARCH processes. It is not rare that advanced GARCH models fail to converge for computational reasons, and a usual parsimonious approach is the GJR-GARCH model. There is a disagreement in the literature and the specialized econometric software, on which constraints should be used for the parameters, introducing indirectly the distinction between asymmetry and leverage. We show that the approach used by various software packages is not consistent with the Nelson-Cao inequality constraints. Implementing Monte Carlo simulations, despite of the results being empirically correct, the estimated parameters are not theoretically coherent with the Nelson-Cao constraints for ensuring positivity of conditional variances. On the other hand ruling out the leverage hypothesis, the asymmetry term in the GJR model can take negative values when typical constraints are imposed.
Keywords: GJR-GARCH; asymmetry; leverage; Nelson-Cao constraints.
Factors leading to Customer Satisfaction: An Empirical Study of Retail Banking in Oman
by ANANDA SURYANARAYANA, Sonal Devesh
Abstract: The banks have been focusing on customer oriented services for their sustainability and growth due to competitive environment. As banks deal with homogeneous products and services, the quality of their service play a vital role in achieving customer satisfaction. The main purpose of this paper is to explore the factors influencing the service quality of banks leading to customer satisfaction. The primary data was collected through a structured questionnaire from 152 respondents from different banks in Oman. The study used factor analysis to identify the most influencing service quality dimensions in achieving customer satisfaction. The study found that reliability, responsiveness and assurance are the most influencing service quality dimensions that lead to customer satisfaction. The study helps the Omani banks to understand customers perception of service quality and contributes ideas to develop strategies for customer retention and acquisition.
Keywords: Retail Banking; Service Quality; Customer Satisfaction; Customer Perception; Oman.
Competitive Advantages and the Transformation of Taiwans Yacht Industry
by Jhih-Sian Sun, Ho-Don Yan
Abstract: Ranked as Asias number one mega-yacht producer, Taiwans yacht making industry is mainly located in Kaohsiung, the largest city in southern Taiwan. Although it lacks a domestic market, how Taiwan has been able to transform itself into a mega-yacht producer poses an interesting question. Through intensive interviews with three of Taiwans leading yacht makers, Horizon, Kha-Shing, and Ocean Alexander, and one key yacht hardware accessory producer, Aritex, we analyze four factors contributing to the competitive advantages of Kaohsiungs yacht cluster: close-knit social network, flexible capability of order customization, co-existence of contracted and corporate workers, and superior craftsmanship with improvisational ability. With the growing wealth in Asian markets, we suggest that Taiwan improve its infrastructure so as to facilitate yacht production expansion and to promote yachting recreation.
Keywords: entrepreneurship; industrial cluster; flexible specialization; social network; project management; improvisation.
Financial markets interdependence in India: An empirical analysis
by Parminder Bajaj, Harman Arora
Abstract: Very few studies have been conducted on the subject of mutual interdependence among domestic financial markets in developing countries like India. This paper aims to investigate the level of correlation and co-integration among the different financial markets in India. An empirical study has been done to analyse the extent of interdependence among the stock market, currency market, government bonds and commodity market. The time-series data was obtained for the period ranging from 2000 to 2015 from the stock market indices of NSE, government bonds and currency index (USD/INR), but for commodity index, it was computed by using simple weighted average mean. Later for the purpose of empirical investigation, statistical tools like co-integration test were done using E-views to study the long term associations between the variables. The granger causality is used to examine the causality among the different variables. The data was also checked against auto-correlation, stationary and unit roots.
Keywords: co-movement;co-integration analysis;Granger causality test;domestic markets.
Cutting Through the Clutter: Mascots in Indian Marketing
by Bharucha J
Abstract: This paper explores theoretically and empirically the mascot concept in India, its contribution towards brand building and the persuasive power of these characters in enhancing brand preference. The approach is qualitative. The results are derived from in-depth interviews with nine retired and semi-retired leading names in the Indian advertising agencies having past experience with well known campaigns using mascots. Also, forty two senior citizens were interviewed in detail. Interesting insights into the topic examining the influence of these fictional characters on various aspects of consumer brand relations have emerged. Some mascots in India have become classic figures building a strong identity and helped to create and express the brands personality. Mascots interact with families in real life and create an emotional connection and this leads to a great bonding between the brand and people. In India where celebrity ambassadors are prohibitively expensive, mascots are an artistic and economical model for building brand equity.This study has managed to come up with notable first hand insights from the Indian advertising fraternity and people at large on the impact of these fictional characters on various facets of consumer brand relations that have useful implications in mascot advertising.
Keywords: Mascots; Indian Advertising; Impact on Children; Celebrity Endorsement.
Enhancing youth employability: A Public Private Development Partnership (PPDP) model to acquire industrial skills
by Jaime Moll De Alba, Virpi Stucki
Abstract: Current global changes in the manufacturing industry, and their impact on jobs, call for innovative approaches to skills-development. In order to meet the goals of the 2030 Sustainable Development Agenda, new ways of developing cooperation, such as partnering with the business sector, are required. Our paper presents a Public Private Development Partnership model for the acquisition of industrial skills in the fields of heavy duty vehicle and forest industry with case studies from Ethiopia, Liberia and South Africa. We examine the impact of such a model in terms of inclusiveness, employability and increase in income. Our analysis suggests that the Public Private Development Partnership model impacts positively both on inclusiveness and employability. It is too premature to draw conclusions on the impact on income. Future research should expand the number of case studies and data, and introduce control groups.
Keywords: Public Private Development Partnership (PPDP); industrial skills; Industry 4.0; employability; industrial development.
Islamic work Ethics for Arab Managers: The Missing Paradigm between Espoused Islam and Islam-in-use
by Saad Yaseen, Ghaleb Elrefae
Abstract: This research puts forth a new conceptualization of espoused Islam and Islam-in-use, the discrepancy between the ideal and the real. Espoused Islam is what Arab managers believe in their stated value. Islam-in-use is their operationalized beliefs that they actually use. Although, there is ample evidence that Arab managers can and do switch mindsets between espoused Islam and Islam-in-use depending on which is cued in context, little is known about these contradicting orientations.
The antecedents of these variations are deeply rooted in history, Arab culture ethos and Islam. The interpretive analysis of concepts has been used to understand the missing paradigm between espoused Islam and Islam-in-use, as well as to shed light on some contradicting orientations among them. An examination of this divergence involves rigorous research and further empirical operationalization. Consequently, this conceptualization is very valuable to western partners regarding how they should cultivate and express their own values and execute business in the Arab world.
Keywords: espoused Islam; Islam-in-use; value orientations; Arab managers mindset.
Public School Teachers Perceived Sense of Self-Efficacy in Teaching Students with Disabilities in the United Arab Emirates
by Samir Dukmak, Ibtehal Mahmoud Aburezeq, Ahmed Khaled Ahmed
Abstract: Background. Including students with disabilities in the public schools cannot be successful if teachers hold negative attitudes towards including these students in their classes. Furthermore, teachers should perceive their sense of self-efficacy positively in order for inclusion to succeed. Aim. This study examined the sense of self-efficacy perceived by regular classroom teachers in teaching students with disabilities in their classes. The study also investigated teachers sense of self-efficacy in relation to their gender and attitudes toward educational inclusion. Sample. Participants were 455 primary regular classroom teachers of the public sector in the seven emirates of the UAE. Method. Primary classroom teachers completed a scale that measures their attitudes towards educational inclusion of children with disabilities in the regular school. They also completed a scale that investigates their sense of self-efficacy in teaching students with disabilities. Results. Results revealed that male teachers viewed their sense of self-efficacy in teaching students with disabilities better than did women. Teachers total attitudes toward inclusion were supportive and male teachers showed more supportive attitudes toward inclusion than their female counterparts. Also teachers attitudes toward educational inclusion became more positive when their sense of self-efficacy was greater. Conclusion. Regular classroom teachers positive attitudes towards educational inclusion and their positively perceived sense of self-efficacy in teaching students with disabilities can be predictors of a successful inclusion. This research, however, contributes to a useful way to enhance the educational system in the UAE, and to those involved in teaching students with disabilities.
Keywords: Regular & Public school teachers; sense of self-efficacy; Attitudes; Inclusion; UAE.
Corporate governance and agency problems
by Soonwook Hong
Abstract: This study investigates the role of corporate governance in the relationship between the average employee length of service and firm value. Hong (2016) argues that firm value decreases as the average employee length of service increases. By expanding Hongs (2016) study, this study analyzes the role of corporate governance using the KCGS evaluation scores. The results show that corporate governance mitigates the negative effect of the average employee length of service on firm value. This research contributes to the literature by verifying that corporate governance plays an important role in the agency problem about the employees and, therefore, takes a step forward from those of earlier studies which have clarified the role of corporate governance in the agency problem about the managers.
Keywords: Korea Corporate Governance Service (KCGS); average employee length of service; agency problems; corporate governance; firm value.
Measuring performance of a pharmaceutical company in the MENA region by means of the cash flow statement
by Leonie Jooste
Abstract: Similar to a product an entity passes through four life-cycles stages. These stages reflect a set of financial characteristics of the flow of funds that leads to different measurements of income and cash flows. The cash flow statement supplies information about both income and cash flows. Therefore, a combination of the life-cycle theory, financial characteristics of income and cash flows, and an analysis of the cash flow statement may be useful as a performance measure and an indication of how the entity is managing their flow of funds. This paper evaluates an entity in the pharmaceutical sector in the MENA region by means of income and cash flow during the mature cycle. This paper uses steps for analysing the flow of funds and compares the application thereof to a benchmark in the mature phase of an entitys life cycle. In theory an entity will have typical income and cash flow patterns (financial characteristics) during each life-cycle stage. This study applies a model developed for performance evaluations during the different life-cycles. The results of this study show that the model may be used as an effective tool to illustrate the usefulness of the cash flow statement.
Keywords: Accounting measures; Cash flows; Financial analysis; IAS 7; AC 118; Income flow; Life-cycle; Performance evaluation.
THE ANALYSIS OF UNEMPLOYMENT, HAPPINESS AND DEMOGRAPHIC FACTORS USING LOG-LINEAR MODELS
by Sultan Kuzu, Sevgi Elmas Atay, Merve Gerçek
Abstract: Unemployment is an important economical concept indicating the economic development of countries. In addition, unemployment is studied quite frequently in a sociological context since it also affects the level of welfare, quality of life and psychological tendencies of individuals living in a country. In this study, unemployment was examined not as a macroeconomic variable but with micro data acquired from the household surveys carried out by the Turkish Statistical Institute. Based on 2015 data, the demographic factors with impact on the employment status of people in Turkey were examined as well as whether they are related with the happiness of individuals or not. Non-parametric tests were preferred since the analyzed variables had a categorical structure. Log-linear models from among the advanced contingency tables analysis methods were used for examining the more than two way relationships of variables. It was determined as a result of the analyses carried out that the employment status is related with happiness and gender and that there is a statistically significant difference between happiness and gender.
Keywords: Happiness; Unemployment; Non-parametric Tests; Log-Linear Models.
Influence of Diverse Upper Secondary Educational Tracks on Labor market outcomes in Thailand
by Akkaya Senkrua
Abstract: This research investigates the influence of diverse upper-secondary educational tracks: academic (AE) and vocational education (VE), on three labor-market outcomes: unemployment risk, monthly earnings, and below-average-income risk. The research used the 2011 2015 Labor Force Survey data by the National Statistical Office of Thailand. The samples were upper-secondary graduates aged 15 60 years with complete parental education data. The probit result showed that individuals with tertiary-educated parents were more likely to pursue vocational education. After correcting for self-selection, the regression result indicated that vocational education was significantly positively correlated with the unemployment risk. More specifically, the unemployment risk was higher for VE graduates due to the emphasis of vocational education on specific work skills. The monthly earnings were significantly positively correlated with VE as the VE graduates earned a higher monthly income than the AE graduates. The below-average-income risk and vocational education were negatively correlated.
Keywords: academic education; vocational education; below-average income risk; unemployment risk; monthly earnings; educational tracks; labor market outcomes.
THE ROLE OF ACCOUNTING INFORMATION IN VALUING ADMINISTRATIVE ISSUES OF KOREA EXCHANGES
by Gee Jung Kwon
Abstract: This study tests the role of accounting information in valuing administrative issues being specified by the causes of designation in Korea Exchange over the period from 2000 to 2015. Administrative issues are companies that investors should have attention to invest in Korea Securities Exchange, Even though the accounting information of administrative issues is not inappropriate for investors, financial and nonfinancial conditions of them are poor than normal companies in Korea Exchange. Empirical findings show that book value of equity is the most value relevant factor among research variables regardless of firm size, belonged financial markets, and technology level, while performance variables such as accounting earnings, cash flows, operating income, and operating cash flows have very little or negative impact on enterprise value. The implication from empirical result is that book value of equity can plays an alternative role substituting for conventional value relevant variables such as accounting earnings, cash flows, operating income, and operating cash flows in Korea Securities Exchanges.
Keywords: administrative issues; value relevance; book value of equity; accounting earnings; operating income; cash flows; operating cash flows.
Impact of Small and Medium Enterprises (SMEs) on Oman Economy
by Mohammad Alam, Naushad Alam
Abstract: There is a great role of SMEs in the development of Oman. The government of Oman is taking serious action to strengthen the SME sector in Oman. Although the SME sector has shown remarkable growth, but still there is potential for improvement. The role of SMEs is critical for the economy of Sultanate of Oman. The governments focus on developing SMEs has a potential for improving economic diversification and creating employment. The government has initiated a number of measures to give this segment a boost, including tying up soft loans and extending financial guarantees. So it has become very important for a study to analyze the growth of SMEs and its impact on economic growth of Oman. The Growth of SMEs is calculated by the number of SMEs per 1000 people per year. Data of 2010 to 2015 are used for analysis. We also used the data of percentage share of SMEs on the Oman GDP for the same years. The GDP of Oman is used as dependent variable. The yearly data of GDP from 2010 to 2015 is also calculated.
Keywords: SMEs; GDP; Banks; Economic Growth; ICT.
A Quantitative Model for Open Innovation and Customer Involvement
by Andreas Efstathiades, George Papageorgiou
Abstract: Abstract: In an era of abundant knowledge and extreme competition there is a growing interest by business organizations worldwide for new approaches to the innovation process. Such approaches include Open Innovation (OI) and Customer Involvement (CI) as important ingredients in the product development process. Several research studies reveal the benefits of Open Innovation and the feasibility of technological innovations within a co-creation process among the business and its customers. However, it is not clear how actually Open Innovation and Customer Involvement contributes to an effective co-creation process and what are the necessary prerequisites for successfully involving the customer in the innovation process. This paper investigates the extent to which business organizations in Cyprus use Open Innovation and Customer Involvement. Particularly, the product development process is investigated, and how the involvement actually occurs. Specifically, we examine the role of Customer Involvement in the idea generation process; contribution in building innovation capabilities; how co-creation contributes to competency development and goal achievement as well as the role of Customer Involvement in the overall business performance. Further, we investigate the necessary pre-conditions in terms of organizational culture for effective Open Innovation implementation. The results presented in this paper would be particularly important for business organizations but also for researchers who are interested for a closer insight in the relationship between Open Innovation and business performance.
Keywords: Keywords: Open Innovation; Customer Involvement; SMEs; Management.
Drivers and Effects of UIRCs Closing gaps in current research
by Katharina Grimm, Marion A. Weissenberger-Eibl
Abstract: University-Industry Research Cooperation projects (UIRCs) appear to be a well-explored phenomenon in the field of business research that has been illustrated from different perspectives. However, some of the questions raised by this research are still not addressed adequately. Despite the call for closing important gaps of interests since the early phases of UIRC research, it seems that questions addressed by UIRC research have circled around similar, mostly structural aspects ever since, which has led to severe redundancies within the body research. Our literature review sheds light onto methodological and topic-related redundancies and research gaps in UIRC research and gives implications for further research to close them.
Keywords: university-industry; uirc; research cooperation; research collaboration; public-private partnership.
Identification & Analysis of Best-Practice Leadership Development Programs: Case of Qatar
by Adel H.Salih Al-Mafrachi, Abdulkarim M. Bakir, Ali M. Alradi, Omar O. Alrawashdeh
Abstract: This study sets out to explore the nature & dimensions of known best practices on leadership development training & their implications for leadership development endeavours in the State of Qatar. The main purpose of this study is to identify the relevance & applicability of a certain best practice model of leadership development program & advise the concerned parties in Qatar to adopt that model in establishing senior leadership development programs for leaders in the public sector. There are a considerable number of models of best practice leadership development programs in the literature. This study elects to review 12 best-practice models of leadership development. These models have been critically analysed, using a checklist matrix of 14 assessment variables comprising; 1) objective of the program, 2) the expected outcomes, 3) the contents/ issues addressed by the program, 4) the mode of implementing the program, 5) the duration of the program, 6) the nomination criteria for participation in the program, 7) the cost of implementing the program, 8) the faculty responsible for facilitating the program, 9) the criteria for assessing participants' performance in the program, 10) follow-up after training, 11) experience in Qatar, 12) experience in the Gulf. 13) On-line coaching facility and 14) quality of training materials. By applying the variables of criteria to the 12 identified best practice models of leadership development, the study filtered out and ranked in terms of relevance five best practice models: the Australian Graduate School of Management (AGSM), the School of Business- University of Alberta (Australia), George Washington University (GWU), the Bristol Business School & the Ashridge Public Leadership Centre (APLC). Playing out the exercise of the checklist matrix, Ashridge Public Leadership Centre (APLC) model tops the list of the model in terms of its relevance & its built-in flexibility of adoption & replication.
Keywords: Best practice; Leadership training; Qatar.
Gender Inequality in Literacy Status and its Effects on Households Economic Well-Being in Burkina Faso: A Semi-parametric Bi-variate Sample Selection Modeling Approach
by Ibrahim Niankara
Abstract: This paper models the gender inequality in literacy status, and its effects on households economic wellbeing in Burkina Faso, using data from the 2014 survey on household living conditions and a semi parametric bivariate sample selection modeling approach. This approach compared to the classic Heckman two-step estimation procedure is methodologically innovative because it deals simultaneously with non-random sample selection using conventional systems of two equations, non-linear covariates effects using spline approach, and the non-normal bivariate distribution using copula functions.
The graphical results from the Lorenz curves combined with the numerical Atkinson and Gini coefficients suggest that inequality in overall per-capita consumption spending among households headed by literates is higher than that of their illiterates counterparts in 2009 and 2014. However, independently of households heads literacy status, the level of inequality in total economic well-being decreased between 2009 and 2014. Using the poverty indices of Watts, Sen, Foster (alpha = 1)) we find that poverty among households headed by literates is lower than that of their illiterates counterparts for both years, although overall poverty decreased nationally between 2009 and 2014.
The results also show that although the gender inequality in literacy status does not translate into inequality in non-food wellness, it does however for food-wellness as females-headed households have 38.9% less per-capita food consumption spending than their males counterparts. Combining both food and non-food consumption spending, total economic well-being also seems to exhibit significant gender inequality as female headed households now have relatively 26.7% less combined per-capita consumption spending.
Keywords: Burkina Faso; Economic Well-Being; Literacy status; Sample Selection.
DEVELOPING A CONCEPTUAL MODEL FOR EXAMINING SOCIAL MEDIA MARKETING EFFECTS ON BRAND AWARENESS AND BRAND IMAGE
by Man Lai Cheung, Guilherme Pires, Philip Rosenberger
Abstract: Social-media marketing has attracted increasing attention from marketers, being regarded as one of the most important channels to communicate information about brands to consumers. Despite its growing importance, limited research has examined the influence of social-media marketing communications on consumers brand knowledge. The proposed study addresses this gap in the literature, proposing a conceptual model for examining the impact of social-media-marketing dimensions on brand awareness and image across products with different involvement levels. The model purports to enhance understanding of the influence of social-media-marketing communications on brands, across products with different involvement levels.
Keywords: Social media marketing; Brand Management; Brand knowledge; Brand awareness; Brand image; Product involvement; Hong Kong.
The Historical Emergence of Small Business Conducts as an Effective Instrument for Governing Economic Reform in Jordan; Governmentality Perspective
by Mohammad Al-Zoubi
Abstract: For last three decades, the term "reform" has been used widely by various scholars to describe the recent economic and social transformations undertaken by the modern western states. This paper aims to describe how the conducts of small business emerged in Jordanian political discourse as an effective instrument for governing the national economy. Governmentality, which forms a base for analysis, can be viewed as any activities undertaken by the government and its affiliated institutions to control the conducts of specific social groups. This is done through exercising different forms of positive power which makes those groups active in self governing. Governmentality comprises a three interrelated elements: the conditions under which specific form of political rationalities direct economic reform; programmes which are designed to make rationalities amenable for authority interventions; and the technologies of governing which are adapted to make authorities operable in normalizing the conducts of a specific social groups.
Keywords: Governmentality; Economic reform; Small business conducts; Political rationality; Programmes; Technologies of governing.
EFFECT OF GRAHAMS SHARE SELECTION CRITERIA ON PORTFOLIO RETURN IN EMERGING MARKETS: CASE OF MALAYSIAN SHARE MARKET
by Nadisah Zakaria, Fariza Hashim
Abstract: Graham's model was broadly investigated in diverse advanced share markets primarily in the United States of America and Europe as the companies are larger and established in a sound economy. However, the selection criteria model is not prevalently examined in emerging countries regardless of their fast economic growth and diversified sectors in the stocks trading. For this reason, this study seeks to analyze the effect of Grahams stock selection criteria on the portfolio returns of the Malaysian stock market. Malaysia has been recognized as one of the most rapid growing markets in the Far East region; therefore testing the market is essential and valid. The study found that notwithstanding with its inception in the stock market, Malaysian stock market was capable of proffering abnormal return to the investors thus indicating that Grahams model of stock selection is certainly beneficial to investors.
Keywords: net current asset value; Benjamin Graham; value investing; abnormal return; emerging countries.
The possibility of solving a potential crisis in a company by applying the measures of structurally multifunctional character
by Josef Kašík, Petr Šnapka
Abstract: This article presents the possibility of solving potential crises in a company, based on the formation and application of business measures of multifunctional process character. The solution of the problem in question is systematically connected with a potential transformation analysis within the scope of partial process blocks of a business value-creating chain, and these transformations are intended to enable the fulfilment of the objectives of effective corporate behaviour. In addition to the basic system considerations aimed at solving the problem in question, this article also presents analytical information specifying the emergence of a potential crisis, as well as a system approach to its analysis, followed by information based on a multifunctional process approach to the solution of this situation. The whole issue is specified using an example of particular problem solution in a real business.
Keywords: potential crisis; corporate measures; transformation analysis; multifunctional process approach.
Prioritising African capacity building research needs using nearest neighbour analysis
by Kenneth David Strang, Elie Virgile Chrysostome
Abstract: We developed a visual research map to stimulate African capacity building studies by interviewing subject matter experts, reviewing the contemporary literature and then conducting non-parametric statistical analysis. First we collected data during a brain storming session held at a three-day conference designed for this study. The participants were subject matter expert practitioners who emigrated from Benin, Uganda, Malawi, Ethiopia, Ivory Coast, South Africa, Zimbabwe, Madagascar, Cameroon, Congo, Burkina Faso, Eritrea, Algeria, and Nigeria. The nominal group technique was applied to develop research questions which the practitioners felt were not answered in the contemporary literature. We statistically analysed the relationships between the research questions and the empirical literature using a nearest neighbour network analysis to develop a visual research map. We then revisited the literature in more detail using the visual research agenda map to develop specific recommendations for scholars to close the gap in African capacity building practices. This paper should generalise to anyone performing capacity building research in Africa by giving them a prioritised visual research agenda with a preliminary literature review.
Keywords: Africa capacity building research; international development; nominal group brain storming technique; nearest neighbour network analysis; Africa.
Evolving fuzzy modelling for yield curve forecasting
by Leandro Maciel, Rosangela Ballini, Fernando Gomide
Abstract: Forecasting the term structure of interest rates plays a crucial role in portfolio management, household finance decisions, business investment planning, and policy formulation. This paper aims to address yield curve forecasting and evolving fuzzy systems modelling using data from US and Brazilian fixed income markets. Evolving fuzzy models provide a high level of system adaptation and learn the system dynamic continuously, which is essential for uncertain environments as interest rate markets. Computational experiments show that the evolving fuzzy modelling approaches describe the interest rate behaviour accurately, outperforming traditional econometric techniques in terms of error measures and statistical tests. Moreover, evolving models provide promising results for short and long-term maturities and for both fixed income markets evaluated, highlighting its potential to forecast complex nonlinear dynamics in uncertain environments.
Keywords: evolving fuzzy systems; yield curve; rule-based models; interest rate; adaptive systems.
Remittance and growth nexus: bootstrap panel granger-causality evidence from high remittance receiving countries
by Hamisu Sadi Ali, Siong Hook Law, Zulkornain Yusop, Veton Zeqiraj, Yusuf Ibrahim Kofarmata, Fatima Muhammad Abdulkarim
Abstract: Abstract: The present paper examine the causal relationship between economic growth and remittances among the top ten highest remittance recipient countries in the world based on remittance to GDP ratio (Haiti, Honduras, Kyrgyz Republic, Lebanon, Lesotho, Moldova, Nepal, Samoa, Tajikistan, and Tonga). We applied Konya (2006) Bootstrap panel Granger-causality test technique for the period of 1998-2014. The result shows that, for countries like Honduras, Kyrgyz Republic, Lebanon, and Moldova, inflow of remittances causes economic growth, while economic growth causes remittance inflows in the case of Lesotho, Nepal, Samoa, and Tajikistan. However, bidirectional causality exists in the case of Haiti whereby remittances cause economic growth and vice-versa. Hence, the results reveal that, the causality between the two variables is both one way causality that run from remittances to growth and the other segment that run from economic growth to remittances, therefore the result is mainly country specific.
Keywords: remittances; economic growth; granger-causality; Konya; cross-sectional dependence.
Predictive power of candlestick in Malaysia: reversal versus continuation patterns
by Chee-Ling Chin, Mohamad Jais, Sophee Sulong Balia
Abstract: The practice of technical analysis which utilises past market information to predict future market movement is typically rejected by weak form market efficiency. Despite that, investors often apply technical indicators to enhance trading profits, especially through the Japanese candlestick charting technique. The current study intends to investigate the effectiveness of candlestick charting in Malaysian stock market by comparing between the reversal and continuation patterns within the sample period of 2000 to 2014. After taking into account the transaction costs, the findings show that reversal patterns are more effective than continuation patterns in portraying accurate trading signals particularly for the bearish reversal patterns. Besides, a 15-day holding period is identified to be appropriate for trading in the Malaysian stock market apart from the ten-day maximum holding period.
Keywords: technical analysis; candlestick charting; reversal patterns; continuation patterns; Malaysia.
The impact of government spending on non-oil-GDP in Saudi Arabia (multiplier analysis)
by Wael Hemrit, Noureddine Benlagha
Abstract: This paper examines the multiplier effect of Government spending on the non-oil Saudi Arabia economic growth. We focus on non-oil GDP rather than total GDP because activity in the oil sector is mainly determined by circumstances in the international oil market. To reach this aim, we use several econometric tools as causality tests, co-integration test and structural VAR, to estimate the short- and long-run effects of government expenditures on non-oil GDP in Saudi Arabia. In this empirical investigation, we employ annual data covering the period from 1970 to 2015. Our empirical findings indicate an overall pro-growth effect of government expenditures, with significant positive fiscal multiplier in the health and agriculture sectors. By empirically assessing fiscal multipliers across diverse non-oil sectors, we perceived that variations in government expenditures are linked to same directional deviations in the growth of non-oil GDP during peak economic horizons. Especially, we find that if the economy is at a peak, we obtain suitable fiscal multipliers.
Keywords: multiplier effect; vector autoregressive; government spending; non-oil GDP; Saudi Arabia.
Venture capital and intellectual property rights effects on innovation in different socio-economic environments: a systematic review and exploration of various contradictive studies
by Arsalan Safari
Abstract: Academic literature has well discussed the effects of venture capital investment, intellectual property rights and other socio-economic parameters on business innovation. While many scholars emphasise these positive effects, others argue that there is no strong association between VC, IPR and business innovation. Therefore, these scholars do not appraise the efforts of regulators and policymakers who are trying to establish stronger intellectual property protection regime for promoting innovation and patenting. This study systematically reviews and maps the literature and explores the effects of VC investment and IPR on innovation on a detailed level worldwide, considering other socio-economic parameters. We discuss the level of effects and the contrary perspectives as well. This review provides a configurative framework from the current research streams which is useful for researchers, regulators, policymakers and entrepreneurs.
Keywords: innovation; patent; venture capital; intellectual property rights; IPR.
The evolution and determinants of services sector in Pakistan: a bound test analysis
by Rao Muhammad Atif, Haiyun Liu
Abstract: Using the annual data over the period of 1975-2015, this paper examines the determinants of services sector growth of Pakistan. We applied auto regressive distributed lag (ARDL) approach to analyse the major determinants of services sector growth of Pakistan. In addition, Granger causality technique has been used to investigate the causality between the variables. Our findings reveal that per capita income, capital accumulation and urbanisation positively contribute towards the services sector growth. However, negative impact of trade liberalisation has been observed on services growth of Pakistan. Therefore, greater focus on the quality parameters of services sector is needed so that it may become more competitive in the world.
Keywords: Pakistan; services sector; determinants; auto regressive distributed lag; ARDL; Granger causality.
Special Issue on: Employability in the Era of the Fourth Industrial Revolution
Entrepreneurial Behaviour and the Role of Transformational Leadership in Higher Education Institutions
by Bayan Yousef Farhan
Abstract: Over the last quarter of the 20th century, higher education institutions (HEIs) were affected by social and economic policy changes. These changes encouraged HEIs to adopt entrepreneurial behaviour and act as a business. This paper is a review, critique, and discussion of literature on the new shape of higher education institutions and the need for transformational leadership in entrepreneurial universities. This review shows that academic leaders are needed to build and maintain the competitiveness of their institutions to succeed in the international education market. It also shows that there is a need for transformational leaders who are able to craft and implement the desired plans and have the vision to make HEIs more efficient while maintaining the core values of academia.
Keywords: Entrepreneurial Behaviour; Transformational Leadership; Higher Education.
Special Issue on: Smart Cities, Big Data and R&D
Factors Affecting ERP Implementation Success in Jordanian Commercial Banks Sector
by Maha Alkhaffaf, Mufleh Amin AL Jarrah, Louay Karadsheh, Samer Alhawari
Abstract: Today, great potential is envisaged for Enterprise Resource Planning (ERP) systems in banks sector; software vendors have been repackaging their ERP implementation success for commercial banks sector with a recent focus upon the role of knowledge transfer. This paper describes some of the common factors affecting ERP implementation success by using knowledge transfer as mediate factor. We identify key success factors of ERP implementation in a Jordanian commercial bank's sector as a sample. Therefore, the examination of the proposed model was made using a newly developed questionnaire. The questionnaires were distributed to a group of 240 persons employed in thirteen commercial banks in Jordan. ERP users were selected as key respondents to the questionnaires. Additionally, the empirical data were analyzed using the Smart Partial Least Square (PLS) technique. The main findings of the empirical study show significant influence of using ERP factors in enhancing the ERP implementation success mediation by the factor of knowledge transfer. The paper proposed an enhanced model that examines vital issues concerning ERP factors effective implementation, thus, providing valuable outcomes for decision-makers and academics.
Keywords: Enterprise Resource Planning (ERP); ERP factors; knowledge transfer; ERP implementation success; commercial banks sector.
The use of data mining techniques in accounting and finance as a corporate strategic tool: an empirical investigation on banks operating in emerging economies
by AbedAlrazzak Alshehedeh, Ghaleb El Refae, Amer Qasim
Abstract: Globalization and recent financial crises have increased the pressures faced by banks operating in emerging economies to maintain their competitive advantages and to insure sustainability. Recent technological advancement paved the way for the use of big data to assist companies in the decision making process. One of the methods exploited by management to make advantage of the huge amount of available information is data mining. This study aims at examining the employment of data mining techniques in the banking sector in an interesting research setting, namely: Jordan. The main objective of this study is to explore the perceptions regarding the use of data mining techniques as a strategic management tool in the banking sector from accounting and finance perspective. Toward this end, a questionnaire is designed and distributed to a sample of 76 banking employees in Jordan who are directly involved in the banking decision support systems units. Results showed that the use of data mining techniques is positively significant in data exchange with internal environment as well as with the external environment of the bank. In addition, results reported the significance impact of data mining techniques in supporting management decision making process in the areas of accounting and finance.
Keywords: Big data; Data mining; Knowledge management; Banks; Jordan.
BIG DATA: Balancing between Risks and opportunities UAE Perspective
by Firas Habbal
Abstract: When we talk about large data, we need to address the basic concepts to understand the nature of large data. Both technical professionals, technicians and business owners need to understand different types of large data components, basic technology, and concepts that support big data. The vast amount of data being produced, stored and made available from multiple sites is a major source of knowledge. These "massive data", if properly managed, it will make an important contribution to UAEs continued economic and social development. This paper aims to enhance public and private sector awareness of the challenges and opportunities presented by large data and to influence policy development processes and delivery of services in UAE.
Keywords: big data; data mining; analytics; decision making.
ICT Investments, Human Capital Development and Institutions in ECOWAS
by Romanus Osabohien, Evans Osabohien, Jeremiah Ejemeyevwo
Abstract: The study explores the linkage between the investment in Information and Telecommunication Technology (ICT) and human capital development on economic transformation in Economic Communities of West African States (ECOWAS). It further examines how investment in ICT and human capital development can transform the economies of ECOWAS members. This study engaged the Generalised Method of Moments (GMM) in achieving its objective. The findings, among others, showed that investment in ICT did not have a statistically significant relationship with human development. Factors responsible for the non-significant impact of investment in telecommunications on human development could be attributed to the relatively low investment in telecommunications accompanied with high cost of acquisition of the technology in ECOWAS, and harsh policy environment. Thus, policies such as the enforcement of good institutions, stabilisation of the political and economic variables in ECOWAS economies will encourage investment in telecommunications, which will enhance ICT adoption and human development.
Keywords: Development; ECOWAS; Economic transformation; Human capital; Investment in ICT; Trade.
The Degree of applying the Electronic Administration in Departments of the Jordanian Educational Ministry
by Hani Jarrah
Abstract: The study aimed to identify the degree of applying the electronic administration in departments of the Ministry of Education of Jordan. The study sample consisted of (307) employees of managerial staff in the center of the Jordanian Educational Ministry. The questionnaire consisted of (40) items. The most important finding of the study is the degree of applying the electronic administration in departments of the Jordanian Educational Ministry was very high. And there were no statistical significant differences in the degree of applying the electronic administration in departments of the Jordanian Educational Ministry due to gender, and there were statistical significant differences due to the academic qualification, in favor of \"Graduate Studies\". And there were statistical significant differences in the degree of applying the electronic administration in departments of the Jordanian Educational Ministry. due to the years of experience, in favor of \"less than 5 years\". The study recommends encouraging managerial staff to make optimal use of electronic administration, and to continue to train managerial staff on the use of electronic administration, hardware, tools and related software in administrative work.
Keywords: Electronic Administration; Departments of the Jordanian Educational Ministry.
Applicability of Activity-Based Costing in the Jordanian Hospitality Industry
by Ashraf Bataineh
Abstract: The study aims to investigate the level of activity based costing (ABC) system adoption as a management accounting tool in the Jordanian hospitality industry, Aqaba. An empirical survey via questionnaire was conducted for 19 of the three, four, and five stars hotels in Aqaba and the descriptive statistics were used to identify the level of ABC system adoption. The study found the adoption level to be very satisfactory. Overall, Aqaba hotels uses a modern management accounting techniques, such as (budgeting practices, profitability measures, product profitability analysis, and customer profitability analysis), but they lack the detailed cost information system, and because ABC is widely adopted to provide such benefits, therefore Aqaba hotels are placing greater emphasis on those techniques like the ABC system.
The study provides a unique detailed examination of the management accounting practices by using the ABC system and also provides a strong indication for the unique future researches in this industry.
Keywords: Activity-based costing (ABC); management accounting; Jordanian hospitality industry; and Aqaba hotels.
Entrepreneurial Training and Skills Development in Africa: Evidence from Koforidua Technical University, Ghana
by Smile Dzisi, Franklin Dodzi Odoom, Gligah Bernice
Abstract: The significant role entrepreneurial training plays in the development of entrepreneurs has been touted in the literature. This paper explores the idea of practical entrepreneurship training and skills development among African students, within the Ghanaian context. The primary objective is to establish the extent practical entrepreneurial training acts as an enabler to the development of entrepreneurial skills among students of the Koforidua Technical Universitys Centre of Entrepreneurial and Innovation Development (CEID). The findings revealed that practical entrepreneurial training is new to students in Ghana. The few students who are exposed to practical entrepreneurial training have acquired entrepreneurial skills and knowledge, and this enabled them to set up their own businesses. The findings of this study have implications on growth and development of the economies Africa by creating new and innovative jobs to subsequently and significantly decrease unemployment. The study recommends that tertiary institutions should have entrepreneurial Centre for practical sessions.
Keywords: Entrepreneurs; entrepreneurial skills; students; practical sessions; innovation; training; education.