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International Journal of Economics and Business Research

 

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International Journal of Economics and Business Research (60 papers in press)

 

Regular Issues

 

  • PRICE EFFECT AND COMPETITION COEFFICIENTS OF AGRICULTULRAL EXPORTS - THE CASE FOR VIETNAMESE EXPORT RICE   Order a copy of this article
    by Hong To 
    Abstract: In order to support a previous analysis of the increase in export value in Vietnamese rice market, the paper aims to identify whether or not the increase was caused by quantity or price effects. Along with the monthly data between 02/2009 and 08/2015, this paper uses the double logarit and error correction model (ECM) to estimate the price competition coefficients from Thai and Pakistani rice. Regression results confirmed the price effects of Thai and Pakistani rice price on Vietnamese price in the long run but not vice versa. The Vietnamese price was also altered which followed by a change of exchange rate and yearly seasons. To reduce the risk of fluctuation in price, the Vietnamese government and producers need to concern about momentous solutions such as increasing the quality of rice in proportion to consumer safety, establishing crop monitoring systems effectively to warn weather risks. Rice producers should apply information technology to correctly get an accurate reflection of the current market, manage the production process as well as take care of macroeconomic variables such as the exchange rate.
    Keywords: rice; export; competition; price effect; quantity effect.

  • ENHANCING LIFE INSURANCE PENETRATION AND DENSITY IN INDIA: PURCHASE INTENTION MODELLING   Order a copy of this article
    by Upendra Nath Shukla 
    Abstract: Life insurance sector plays significant role in the economic development of an economy, as it not only provides log term funds for investments for the growth of infrastructure, but it enhances the level of financial protection of the citizens of the country as well. In the emerging economy like India level of insurance penetration and density is continuously dropping since the year 2010 (I.R.D.A annual report 2014-15) due to sluggish demand of life insurance because of disinterested individuals to buy life insurance. Consequently to understand the interest level and purchase intention of life insurance in India survey of 580 individuals is conducted in the city of Lucknow and rural surroundings to understand buying intention of life insurance. Applying logit regression its estimated that age, education, occupation and willingness to buy life insurance for tax saving are significant parameters to estimate the probability of purchase of life insurance. Its estimated that with increasing age intention to buy life insurance decreases. Education is found to be most critical determinant, professionals and postgraduates are more intended to take life insurance. Professionals, businessmen and major agriculturists are more likely to take life insurance rather than salaried class having fixed income. Tax saving is found as the most important motive to buy the life insurance. Above findings seems conducive for growth of industry but life insurance is still not purchased as a basic need which is the major area of concern as well to enhance life insurance penetration and density in India.
    Keywords: Life insurance; Demand; Insurance penetration; Insurance density; Purchase- intention; Modelling; Strategies; Policy; I.R.D.A (Insurance regulatory and development authority).
    DOI: 10.1504/IJEBR.2018.10007687
     
  • Does democracy embolden economic growth in Pakistan? Evidence from ARDL bound testing & Rolling Window Analysis   Order a copy of this article
    by Arshian Sharif, Sahar Afshan, Bushra Shahzad Khan 
    Abstract: This study investigates the relationship between democracy and economic growth in Pakistan by using the annual time series data from the period 1972 to 2013. The ARDL bound testing cointegration approach, Johansen and Juselius cointegration approach and Gregory and Hansen structural break cointegration approach confirm the valid long run relationship between democracy and economic growth. Results suggested that democracy, labor force and gross fixed capital formation have positive and significant impact on economic growth in both long run and short run. Results of Generalized forecast error variance decomposition method under vector autoregressive (VAR) system suggested unidirectional causal relationship between democracy and economic growth in Pakistan. The present study may guide policy makers in formulating conclusive monetary and fiscal policies to increase economic growth in Pakistan and also get sustainable economic growth for long span of time.
    Keywords: democracy; economic growth; labor force; structural breaks.

  • Impact of the Minimum Wage Policy on Consumption Expenditure and Poverty in Egypt   Order a copy of this article
    by Eman A. M. Z., Nayera Solieman 
    Abstract: Development has not yet achieved its goals in developing countries due to the increase in poverty rates. In October 2013, the Government of Egypt decided to implement the monthly minimum wage policy to allow citizens attain their needs of different expenditure groups thus reduce poverty. The research estimated the monthly wage that allows poor household individuals attain their daily needs of different expenditure groups after the latest increases in prices, and compared it with the monthly minimum wage to find if it helped them move out of poverty. Findings revealed that such policy shall help move 53% of the study households out of poverty, but the rest are threatened to fall in poverty as prices go higher. The research recommended revisiting the monthly minimum wage periodically to match the rising prices to help improve the economic conditions of vulnerable categories for better health and economic performance to achieve development goals.
    Keywords: Monthly Minimum Wage Policy; Consumption Expenditure Categories; Consumption Expenditure Needs; Poor Categories; National Poverty Line.
    DOI: 10.1504/IJEBR.2018.10006420
     
  • Income Inequality and Agglomeration Economies: A Case of a Developing Economy   Order a copy of this article
    by Asim Iqbal, Mohammad Hassaan Bin Zafar, Haider Mahmood 
    Abstract: The concentration of population generates spillover effects and one would expect the upsurge of business and economic activities in that particular area which also affects income distribution in the society. This paper is intended to elucidate income inequality in the context of agglomeration economies in a developing economy like Pakistan during 1980-2014. The study period is hallmarked by the major shocks across the world economies including Pakistan. Therefore, the study incorporates structural break both during the pretesting of time series properties and in cointegration tests. The bounds testing for the long-run cointegration reveals that the under investigating variables are cointegrated. We further find that the Kuznets inverted-U hypothesis does not hold in Pakistan. Moreover, the agglomeration economies negatively and linearly affect income inequality. This study suggests that the concentration of business activities in the less agglomerated areas is helpful in reducing income inequality.
    Keywords: Income Distribution; Agglomeration; Unemployment; per capita Income; Time Series; Structural Breaks; ARDL Cointegration; Developing Economy; Pakistan.

  • The Impact of Government Policies on FDI Decision of Multinational Corporations: An Application to the Vietnamese Service Industry   Order a copy of this article
    by Ali Salman Saleh, Thi Lan Anh Ngugen, Arsalan Safari 
    Abstract: There has been an upsurge in competition amongst Asian countries to attract Foreign Direct Investment (FDI), resulting in higher government incentives given by the host countries. Whereas most of the empirical studies emphasize the positive effects of government policies on FDI inflows, a few studies argue that there is no strong association between these policies and FDI. Studies focusing on the effects of government policies on FDI decisions in Vietnam have been scarce as well, especially the extent to which government policy construct affects this decision. This article addresses a critical research question about the key determinants of government policies which impact FDI decisions in Vietnam. Hence, this study uses a comprehensive primary dataset of 288 multinational corporations operating in all service sectors in Vietnam. The structural equation modeling results reveal that the key determinants of government policies affecting FDI surge in the Vietnamese service industry are: FDI policies, trade agreements, tax incentives and infrastructure. The findings are plausible and are in line with the recent economic reforms occurring in Vietnam along with the increased FDI inflows into the country in the last twenty-five years.
    Keywords: FDI; Investment; Service Industry; Government; Policy.

  • Warren Buffett Value Indicator vs. GDP size - Is the relationship superlinear?   Order a copy of this article
    by Yu Sang Chang, Dohyun Pak 
    Abstract: Warren Buffett Value Indicator or Buffett Indicator is the ratio of financial capitalization to GDP for a given time for a country. Buffett Indicator is used as a buy or sell signal to many investors around the world. This paper attempts to determine whether the scaling relationship may exist for Buffett indicator among different groups of countries. If such scaling relationship exists, the traditional use of Buffett indicator can be refined to seek better candidate countries for investment. Our analysis indicates that superlinear scaling relationship exists for total of 34 countries during the period of 1997 to 2014. Superlinear relationship exists also for the subgroups of 12 and 13 countries, but not for the subgroup of 9 countries. Implication from our findings for international investment will be discussed.
    Keywords: Warren Buffett Value Indicator; Buffett indicator; Superlinear relation; International investment.

  • Evaluating Health Consumers' Preferences Stability Through Joint Estimation of Revealed and Stated Health Insurance Preferences Data   Order a copy of this article
    by Niankara Ibrahim 
    Abstract: This paper presents a variant of the mixed logit model, in the form of a panel-like error components mixed logit that relies on a multinomial logit formulation of the weighted logit formula, as opposed to the usual conditional logit representation; then uses the model to evaluate the consistency of consumers' preferences for heath insurance by jointly modeling the stated health insurance preferences and revealed health insurance choices of respondents from the 2007 Medical Expenditure Panel Survey (MEPS). Estimation is implemented within the Bayesian paradigm using Markov Chain Monte Carlo (MCMC) Methods, and the results suggest that 2007 MEPS respondents do present stable preferences for Health Insurance. In fact, compared to respondent with uncertain health insurance preferences, those initially expressing health insurance as not worth its cost are found to be 23.28% less likely to be privately insured and 81.53% less likely to be publicly insured. On the other hand, those initially expressing health insurance as worth its cost are found to be 21.72% more likely to be privately insured and 81.68% more likely to be publicly insured. Furthermore, the 58.25% gap in favor of private coverage suggest relatively more skepticism (dissatisfaction) toward public only coverage compared to having some private coverage.
    Keywords: Bayesian MCMC; Discrete Choice; Health Insurance; Mixed Logit; Preferences Stability.

  • Prioritising African capacity building research needs using nearest neighbour analysis   Order a copy of this article
    by Kenneth David Strang, Elie Crysostome 
    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 (N=71). The participants were subject matter expert practitioners who emigrated from Benin, Uganda, Rwanda, Burundi, 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 (N=23). 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 generalize to anyone performing capacity building research in Africa by giving them a prioritized visual research agenda with a preliminary literature review.
    Keywords: Africa capacity building research; international development; nominal group brain storming technique; nearest neighbour network analysis.

  • Remittance and Growth nexus: Bootstrap panel Granger-causality evidence from high remittance receiving countries   Order a copy of this article
    by Hamisu Sadi Ali, Siong Hook Law, Zulkornain Yusop, Yusuf Ibrahim Kofarmata, Fatima Muhammad Abdulkarim 
    Abstract: The present paper examine the causal relationship between economic growth and remittances among the top 10 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 exist in the case of Haiti whereby remittances causes economic growth and vice-versa. Hence, the results reveals 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.

  • Evolving fuzzy modeling for yield curve forecasting   Order a copy of this article
    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 modeling using data from US and Brazilian fixed income markets. Evolving fuzzy models provide a high level of system adaptation and learns the system dynamic continuously, which is essential for uncertain environments as interest rate markets. Computational experiments show that the evolving fuzzy modeling approaches describe the interest rate behavior 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.

  • Empirical Relation between Unemployment and Alcohol Beverage Consumption in Korea   Order a copy of this article
    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.

  • The Evolution and Determinants of Services Sector in Pakistan: A bound test analysis   Order a copy of this article
    by Atif Rao Muhammad, Liu Haiyun 
    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 analyze 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 urbanization positively contribute towards the services sector growth. However, negative impact of trade liberalization 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; ARDL; Granger Causality.
    DOI: 10.1504/IJEBR.2018.10006815
     
  • Venture Capital and Intellectual Property Rights Effects on Innovation in Different Socioeconomic Environments: A Systematic Review and Exploration of Various Contradictive Studies   Order a copy of this article
    by Arsalan Safari 
    Abstract: Academic literature has well discussed the effects of venture capital investment, intellectual property rights and other socioeconomic parameters on business innovation. While many scholars emphasize 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 socioeconomic 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.

  • THE IMPACT OF GOVERNMENT SPENDING ON NON-OIL-GDP IN SAUDI ARABIA (MULTIPLIER ANALYSIS)   Order a copy of this article
    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, cointegration 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.

  • Predictive Power of Candlestick in Malaysia: Reversal versus Continuation Patterns   Order a copy of this article
    by Chee-Ling Chin, Mohamad Jais, Sophee Sulong Balia 
    Abstract: The practice of technical analysis which utilizes 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 10-day maximum holding period.
    Keywords: technical analysis; candlestick charting; reversal patterns; continuation patterns; Malaysia.

  • Causality between economic growth and investment in the United Arab Emirates   Order a copy of this article
    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   Order a copy of this article
    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   Order a copy of this article
    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   Order a copy of this article
    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   Order a copy of this article
    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   Order a copy of this article
    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   Order a copy of this article
    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   Order a copy of this article
    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?   Order a copy of this article
    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   Order a copy of this article
    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   Order a copy of this article
    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   Order a copy of this article
    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   Order a copy of this article
    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   Order a copy of this article
    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   Order a copy of this article
    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.
    DOI: 10.1504/IJEBR.2018.10008921
     
  • Psychological Empowerment as a Stimulus of Organizational Commitment and Quality of Work-Life: A Comparative Study between Egypt and India   Order a copy of this article
    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   Order a copy of this article
    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   Order a copy of this article
    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   Order a copy of this article
    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   Order a copy of this article
    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   Order a copy of this article
    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?   Order a copy of this article
    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   Order a copy of this article
    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   Order a copy of this article
    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   Order a copy of this article
    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   Order a copy of this article
    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   Order a copy of this article
    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   Order a copy of this article
    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   Order a copy of this article
    by Mohammed Nuseir 
    Abstract: Abstract 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   Order a copy of this article
    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   Order a copy of this article
    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?   Order a copy of this article
    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   Order a copy of this article
    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   Order a copy of this article
    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   Order a copy of this article
    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 brand’s 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.

Special Issue on: Smart Cities, Big Data and R&D

  • ICT Investments, Human Capital Development and Institutions in ECOWAS   Order a copy of this article
    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   Order a copy of this article
    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   Order a copy of this article
    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   Order a copy of this article
    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.

  • Factors Affecting ERP Implementation Success in Jordanian Commercial Banks Sector   Order a copy of this article
    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   Order a copy of this article
    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   Order a copy of this article
    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.

Special Issue on: Employability in the Era of the Fourth Industrial Revolution

  • Entrepreneurial Behaviour and the Role of Transformational Leadership in Higher Education Institutions   Order a copy of this article
    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.