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International Journal of Economics and Business Research

 

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International Journal of Economics and Business Research (65 papers in press)

 

Regular Issues

 

  • 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 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 modelling 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: Egypt; economic growth; sectoral analysis; growth scenarios; econometric modelling; 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   Order a copy of this article
    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   Order a copy of this article
    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   Order a copy of this article
    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   Order a copy of this article
    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   Order a copy of this article
    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   Order a copy of this article
    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   Order a copy of this article
    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.
    DOI: 10.1504/IJEBR.2019.10011568
     
  • Influence of Diverse Upper Secondary Educational Tracks on Labor market outcomes in Thailand   Order a copy of this article
    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.
    DOI: 10.1504/IJEBR.2019.10014152
     
  • THE ROLE OF ACCOUNTING INFORMATION IN VALUING ADMINISTRATIVE ISSUES OF KOREA EXCHANGES   Order a copy of this article
    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   Order a copy of this article
    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   Order a copy of this article
    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   Order a copy of this article
    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   Order a copy of this article
    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   Order a copy of this article
    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   Order a copy of this article
    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   Order a copy of this article
    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   Order a copy of this article
    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   Order a copy of this article
    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.

  • THE EFFECT OF INSTITUTIONAL OWNERSHIP ON LISTED COMPANIES PERFORMANCE IN VIETNAM   Order a copy of this article
    by Nguyen Minh Ha, Phan Hiep 
    Abstract: This research aims to study the impact of the institutional ownership on the listed companies performance in Vietnam. With the data from the annual financial statements of 121 companies listed on the Ho Chi Minh City Stock Exchange, Vietnam from 2008 to 2013, the research results showed that institutional ownership had a significant impact on companys performance through Tobins Q, ROA and ROE. However, when dividing the institutional ownership into domestic institutional ownership and foreign institutional ownership, there were different effects. And there were differences among changes in levels of domestic and foreign institutional ownership and the companies performance. In addition, the study also considered the effects of other factors of the institutional ownership including numbers of institutions in the board of management and the representative for the institutional ownership in the board of directors.
    Keywords: Institutional ownership; ownership; listed companies; performance; Viet Nam.

  • The impact of the 2008 financial crisis on the Greek banking system   Order a copy of this article
    by Iraklis Apergis, Sofia Eleftheriou 
    Abstract: The goal of this paper is to explore the roles of both the 2008 financial crisis and the Greek sovereign crisis in the Greek banking system, and more specifically, the effect on its operating expenses and non-performing loans (NPLs). Through the methodology of panel data across all Greek banks, spanning the period 1984-2015, the results document the actual determinants that drive the banking system that were responsible for driving the Greek economy into the austerity programs.
    Keywords: Greek banking system; 2008 financial crisis.

  • Convergence, Context, Crossvergence: Contending Perspectives on Strategic Management in Asia vs. the West   Order a copy of this article
    by Maria Nathan 
    Abstract: In what ways are the strategic management practices within Asia and. the West similar and different? In search of an answer to this question, researchers have given shape to three perspectives: (1) universal convergence suggests that for varied reasons there is general practice among Asian and Western firms; (2) contextualism focuses upon cross-national firm difference, and (3) crossvergence studies the synergistic effects of convergence and divergence upon Asian and Western firms. Research findings to date depict complex, countervailing forces operating both within and outside firms, nations, and across the globe. It is argued that rejection of any one perspective is not appropriate for various reasons and could deter progress toward a clearer understanding of difference, similarity, and hybridization between Asian and Western firms. Recommendations for future research are offered, including alternative frameworks for reconciling the three perspectives.
    Keywords: universal convergence; Asian strategic management; strategic crossvergence; contextualism; cross-national strategic management; global strategic management.

  • PRICE ADJUSTMENT LAGS AND THEIR ASYMMETRIES IN VIETNAM   Order a copy of this article
    by The Anh Pham, Hoang H. Nguyen, Hung Duc Nguyen 
    Abstract: The paper aims to investigate factors that influence the speed of price adjustments in response to shocks by firms in Vietnam, using a multivariate ordered probit model with survey data. The results indicate that the speed of price adjustment is more likely to depend on the size of shocks and economic conditions than on whether firms are state or time-dependent price reviewers. We document that firms use the rule-of-thumb in price setting tend to adjust prices more slowly in response to shocks than their counterparts who set prices based on the market conditions and that firms whose prices are influenced by competitors tend to be more flexible in reaction to shocks. In addition, we find that menu costs and contracts are the two most important theories in explaining price stickiness; however, they seem to induce firms to respond more slowly only to shocks that drive prices downwards, rather than to shocks that move prices upwards. Finally, the degree of competition, the market share, the size of firms, the practice of quantity discounts, the share of state ownership, and the sector where firms operate all matter with regards to how quickly and asymmetrically firms react to shocks.
    Keywords: Price adjustment; survey data; multivariate ordered probit.

  • Easing the Burden of Non-Tariff Barriers: A Regional and Firm-Level Data Analysis   Order a copy of this article
    by Farnaz Farnia, Nathalie De Marcellis-Warin, Thierry Warin 
    Abstract: This article aims at providing a firm-level analysis of Non-Tariff Barriers (NTBs) categories based on the importance of exports for domestic firms across diverse regions in the world. It exploits cross-sectional data from the World Bank Enterprise Surveys of 10,266 firms across 81 countries covering the period from 2006 to 2014. The study focuses on four NTBs: customs and trade regulations, tax rate, tax administration, and business licensing and permits. Firms were analysed according to levels of exports and locations. The results show that tax rate and business licensing and permits are more likely to be rated as a severe barrier. The tax administration and customs and trade regulations are more probable to be ranked as minor or no obstacle to trade. The business licensing and permits and tax rate are more likely to be ranked as a severe barrier for the firms within the 51-75% level of exports. In addition, the majority of the firms with 26-50% of exports are more likely to rank tax administration and customs and trade regulation as severe barriers.
    Keywords: non-tariff barriers to trade; exporting firms; upper-middle income countries; lower-middle income countries; low-income countries; enterprise survey.

  • The Rationality of Irrational Decisions: A New Perspective of Behavioral Economics   Order a copy of this article
    by Mahmoud Askari, Ghaleb El Refae 
    Abstract: This paper is an attempt to contribute to the field of behavioral economics by proposing a new perspective of utility and rational decision making. We use the method of Thought Experiment, as well as, hypothetical examples of decision making to explain the rationality of decisions that might be seen by economics as irrational. We hypothesize that all decisions are rational at the individual level, and that all decisions are justified by decision makers and maximize the decision makers perceived utility. To do this, we redefine rationality at the decision makers level, and we explain how individuals customize rationales for their own actions to make decisions that maximize their perceived utility. We also redefine utility to include both tangible and intangible dimensions, and we discuss how the customization of rationales and the perception of utility at the individual level make all decisions rational. We also propose a model to hypothetically calculate full utility attainment (maximum utility) by the individual.
    Keywords: Rationality; Irrational Decisions; Perceived Intangible Utility; Behavior Economics.

  • Macroeconomic Determinants of Non-Performing Loans in GCC Economies: Does the Global Financial Crisis Matter?   Order a copy of this article
    by Hisham Abdelbaki 
    Abstract: This paper uses the OLS, fixed effects, Arellano and Bond GMM and VAR model to empirically examine the macroeconomic determinants of non-performing loans in GCC through the period from 1998 to 2016. The main findings conclude that non-oil GDP growth, domestic credit to private sector to GDP ratio and inflation rate have negative effects on non-performing loans. Whereas, interest rate and financial crisis have positive effects on non-performing loans. The findings also suggest that the domestic credit to private sector to GDP ratio is the main factor affecting non-performing loans in the short run. While, interest rate is the main factor which influences non-performing loans size in the long run is a faster during the period before the financial crisis.
    Keywords: non-performing loans; fixed effects; panel OLS; Arellano and Bond GMM; VAR; GCC economies.

  • Dupont de Nemours and the Origin of the Maxim Laissez Faire, Laissez Passer   Order a copy of this article
    by Robert Prasch, Thierry Warin 
    Abstract: Dupont de Nemours begins his Lettre
    Keywords: laissez-faire; capitalism; economic thought; political economy.

  • Do TQM Practices Improve Organisational Success? A Case Study of Electronics Industry in the UAE   Order a copy of this article
    by Haitham Alzoubi, Gouher Ahmed 
    Abstract: Total quality management (TQM) is an inescapable strategic and business development tool, and there is a widespread consensus that implementation of total quality management plays a vital role in achieving the success of the organisations. This study investigates the relationship between the practices of total quality management and the organisational success with reference to the electronic industry in the United Arab Emirates with a sample of 50 firms in 2016-17. The literature on the TQM widely supports the success of TQM practices in making their organization successful. The results of this exercises arrived through regression, co-relation, etc. the methods are also in consonance with the studies in the field, proving TQM to be a pure business /organization success tool more so in the electronics in the UAE, open to global competition, calling for a culture of quality and commitment to TQM by the management.
    Keywords: Quality; Total Quality Management; Organisational Success; Electronics Industry.

  • An exploration into the household pipe-borne water consumption: Empirical evidence from Sri Lankan household surveys   Order a copy of this article
    by Asankha Pallegedara 
    Abstract: This paper analyses determinants of households' pipe-borne water consumption in Sri Lanka using data covering the period 1990 to 2013. Employing a two-part estimation model, the study finds that household income, household size, level of education of the household head and age of the household head are positively associated with the likelihood of consuming pipe-borne water and monthly consumption expenditures on pipe-borne water. Moreover, households' demand for pipe-borne water has significantly increased over the years. Therefore, expansion of the pipe-borne water supply network along with demand management strategies would be beneficial to cater the growing demand for pipe-borne water.
    Keywords: pipe-borne water; household surveys; two-part model; water consumption expenditures; Sri Lanka; econometric estimation; descriptive statistics; developing countries; water supply schemes; urban areas; income level.

  • The Relationship between Organizational trust and Organizational Identification and its effect on Organizational Loyalty   Order a copy of this article
    by Feras Al Shalabi 
    Abstract: Most of management literature in general and organizational behavior in particular agree on the importance of organizational trust and organizational identification in the success and sustainability of organizations, these variables significantly affect important indicators of success in the organization such as organizational citizenship, organizational loyalty, employee satisfaction, etc. The purpose of this study is to examine the relationship between organizational trust, organizational identification and organizational loyalty in the private Jordanian hospitals, providing a framework of four scenarios for the relationship between these variables and working on determining the optimal relationship between the three variables. The study framework included the direct relationships of organizational trust and organizational identification and its impact on organizational loyalty, the indirect effect of organizational trust on organizational loyalty with the existence of organizational identification as a mediator variable, and organizational identification on organizational loyalty with the existence of organizational trust in organizational loyalty as a mediator variable. The study showed that all relationships in the study framework had a significant effect on organizational loyalty. However, the optimal relationship was the effect of organizational identification in organizational loyalty with the existence of organizational trust as an mediator variable.rnrnrn
    Keywords: organizational trust; Organizational identification; Organizational Loyaltyrnrn.

  • INVESTOR SEGMENTATION: HOW TO IMPROVE CURRENT TECHNIQUES BY INCORPORATING BEHAVIOURAL FINANCE CONCEPTS?   Order a copy of this article
    by Ronaldo Andrade Deccax, Carlos Heitor D'Avila Pereira Campani 
    Abstract: This article proposes an improved model of individual investor segmentation. The approach employed consisted of a broad review of studies published in renowned journals in recent decades on the segmentation of individual customers of financial services and on factors that influence financial decision making. The new segmentation model proposed adopts a hybrid approach which combines demographic and psychographic variables that previous research revealed to be the most important. After being tested and improved through future quantitative research, this new model may contribute to the improvement of financial institutions customer acquisition methods and the services they provide, of investors selection of investments and of the regulations that currently govern the financial sector in particular, those which regulate prior suitability verification of investors. The new segmentation model proposed here innovates by incorporating psychographic variables ("rationality", "risk aversion", "overconfidence" and "optimism") from Psychology and the increasingly recognized Behavioural Finance area.
    Keywords: Behavioural Sciences; Investor Suitability; Financial Markets; Market Segmentation; Consumer Behaviour.

  • 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 behaviour. 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.
    DOI: 10.1504/IJEBR.2018.10013726
     
  • 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 realise the highest payoffs.
    Keywords: contract choice; agency; effort; experiment; non-monotone; incentives.
    DOI: 10.1504/IJEBR.2018.10013728
     
  • Synergy and value in economic organisation   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 benefits as well as costs of activities simultaneously this paper introduces a value perspective. Furthermore synergies and conflicts within bundles of activities 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 organisation 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; internalisation; outsourcing; network; governance mode; economic organisation.
    DOI: 10.1504/IJEBR.2018.10013730
     
  • Revisiting the asset pricing paradigm using sustainable growth rate   Order a copy of this article
    by Lalit Arora, Shailendra Kumar, Piyush Verma 
    Abstract: The 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 dataset 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.
    DOI: 10.1504/IJEBR.2018.10013729
     
  • 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 2006, in coherence with the pursuit of the objective of removing poverty and unemployment. The paper attempts to analyse the determinants of household's participation in NREGS and perceived livelihood benefits from this program. However household's 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 household's participation in NREGS 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 household's 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: national rural employment guarantee scheme; NREGS; participation; employment days; asset; households.
    DOI: 10.1504/IJEBR.2018.10013733
     
  • Overview of state and perspectives of the energy sector - the case of Croatia   Order a copy of this article
    by Zoran Wittine, Matea Babic 
    Abstract: The 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, the authors deal with states and perspectives of the Croatian energy sector and briefly review what effects has the accession to the European Union had on the energy sector in general and what developments are likely to be seen in the future.
    Keywords: Croatia; European Union; EU; energy; oil; natural gas; economic development.
    DOI: 10.1504/IJEBR.2018.10013731
     
  • Towards an understanding of students' behavioural 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-centred, and has popularised 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 (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.
    DOI: 10.1504/IJEBR.2018.10013736
     
  • Listing stocks on derivatives market of NSE and its impact on liquidity of spot market   Order a copy of this article
    by V.D.M.V. Lakshmi, Medha Joshi 
    Abstract: The study attempts to examine the impact of listing selected stocks on futures and 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; SSFs; single stock options; SSOs; illiquidity ratio; F&O segment; long-term liquidity; short-term liquidity; liquidity effects; trading volume; dollar trading volume; spot market; derivatives market.
    DOI: 10.1504/IJEBR.2018.10013738
     
  • Crafting employability strategy in skills-driven labour markets   Order a copy of this article
    by Mahmoud Yousef Askari, Abdelkader Mazouz, Ghaleb A. El Refae 
    Abstract: In this paper, we propose that universities could facilitate the employability of their graduates by utilising 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-year 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 organisations.
    Keywords: employability; strategy; labour markets; applied skills.
    DOI: 10.1504/IJEBR.2018.10013737
     
  • 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; FDI; South Asia; panel data.
    DOI: 10.1504/IJEBR.2018.10011054
     
  • Evaluating the usefulness of e-learning management system delivery in higher education   Order a copy of this article
    by Maha Rahrouh, Nasser Taleb, Elfadil A. Mohamed 
    Abstract: Learning management systems (LMSs), such as Moodle, has been used by many academic institutions 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. This study analyses 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 specialised trainers according to users' needs.
    Keywords: learning management system; LMS; Moodle; e-learning; e-assessment; higher education; e-learning management system usefulness.
    DOI: 10.1504/IJEBR.2018.10014170
     
  • Evaluating short- and long-term effectiveness of capital expenditure in the subnational governments: evidence from US 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 organisation 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 USA. Thus, in this paper, I investigate whether capital expenditure in US 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 USA, 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 policy.
    DOI: 10.1504/IJEBR.2018.10014171
     
  • Examining the factors affecting the adoption of e-health innovative technology   Order a copy of this article
    by Jamil Razmak, Abdallah A. Al Shawabkeh, Faten F. 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 the barriers to e-health adoption. Concentrating on innovation in the healthcare industry, the present study explores the external factors that predict patients' behavioural intention to use a personal health record (PHR) as an important part of the electronic patient-physician relationship. Empirical research is used to identify a conceptual framework illustrating the relation between patients' behavioural 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 regression analysis indicate that the proposed factors were significantly predicted as the perceived ease of use and perceived usefulness of PHR innovative technology. The perceived usefulness factor was significantly predicted in the behavioural 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.
    Keywords: innovative technology; personal health record; PHR; governmental support; perceived usefulness; perceived ease of use; PEOU; behavioural intention.
    DOI: 10.1504/IJEBR.2018.10014172
     
  • 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 organisational 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 organisational rewards from their employees. Statistic results are hardly generalisable 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, organisational commitment and quality of work-life. Data were collected from several MBA classes to achieve the objective of diversity. Insightful results, practical implications and future research directions are provided.
    Keywords: psychological empowerment; organisational commitment; quality of work-life; QWL; organisational psychology; comparative study; Egypt; India.
    DOI: 10.1504/IJEBR.2018.10014173
     
  • 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 analyses 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. It uses a modified SERVPERF model for the measurement. SERVPERF model is based on five dimensions: reliability, assurance, tangibles, empathy, and responsiveness (Cronin and Taylor, 1992). Data are collected through a survey questionnaire instrument. A total of 657 students and faculty members participated in the survey. 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 achieved the highest level of satisfactions in reliability and responsiveness among faculty members. Findings of the study indicate no significant difference in perception towards quality performance of AAU libraries between male and female, and also among the 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.
    DOI: 10.1504/IJEBR.2018.10014174
     
  • 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 analysing 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.
    DOI: 10.1504/IJEBR.2018.10014175
     

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.