International Journal of Business and Globalisation (314 papers in press)
Fostering Indigenous Entrepreneurship amongst San People: A Case of Tsumkwe
by WILFRED ISAK APRIL
Abstract: This paper seeks to explore new ways to foster indigenous entrepreneurship amongst the San people. Policies such as the Harambee Prosperity Plan and Vision 2030 were designed to support the developmental agenda of Namibia. This study will follow an ethnographic approach, by making use of in-depth interviews, storytelling and participant observation. Combining the Western and African approaches to development is critical when we wish in improving the livelihoods of marginalised communities. Indigenous entrepreneurship is one way through which the San people can be empowered, as it has both economic and non-economic objectives. Improving the entrepreneurial propensity of the San people is important as it can aid in the development of the local communities and the overall growth of the national economy. This paper is one of the important studies in the context of indigenous entrepreneurship in Namibia. Studies with reference to indigenous entrepreneurship in terms of the San people of Tsumkwe are very few or non-existent in Namibia.
Keywords: Indigenous Entrepreneurship; Entrepreneurial Culture; Namibia; Tsumkwe; Namibia and San People.
Factors affecting labour productivity of employee in an Asian emerging market: Evidence in Vietnamese retail sector
by Le Thanh Tung
Abstract: There are few studies of labour productivity of employee in the Asian emerging markets, however, there is no empirical evidence in Vietnam. The paper aims to investigate the impact of key factors on the labour productivity of employees in the retail sector in Ho Chi Minh City, Viet Nam. The quarterly panel data were collected from 69 convenience stores in the period 2014-2015. The empirical result shows that factors such as wage, the number of employees, age of the store and the acreage of the store selling area had the positive effect and significant statistics on labour productivity. However, our study investigates that the turnover and the age of employees had the negative impact on labour productivity of employee in this case. Our result also finds the negative effects of education and labour structure of store on labour productivity of employee but these effects are not significant. Finally, we have some conclusions and implications for managers to increase labour productivity in their business.
Keywords: labour productivity; convenience stores; retail sector; wage; number of employee; age of store; acreage of the store selling area; turnover; age of employee; education level of employee; labour structure; business; emerging market; Vietnam; Asia.
VALUE CREATION AS A PICKLOCK TO UNDERSTAND BUSINESS CONTEXTS
by Marco Tregua
Abstract: Actor-to-actor interactions in SMEs are relevant and entrepreneurs need to act by leveraging relationships to achieve positive performances for their firms. This process is based on entrepreneurial competencies, entrepreneurial orientations, and a cognitive activity leading to the perception of the entrepreneur about the context where businesses take place. Understanding business contexts is even more crucial when dealing with start-ups, due to the challenges to be faced by novice entrepreneurs.
This research is based on multiple face-to-face interviews with entrepreneurs leading start-ups; the interviews were conducted to understand whether a focus on value creation can compel a driver to improve entrepreneurs competencies in depicting the network they shape and in improving awareness when carrying on a firm. Results show more insightful network representations when focusing on the processes favouring value creation; these network representations are meant as instruments to improve entrepreneurs awareness of the context and to support the decision-making.
Keywords: value creation; entrepreneurial competencies; network picture; start-ups; network horizon.
Establishment Mode Choice of Finnish SMEs in Estonia: a case study approach
by Faisal Shahzad, Tiit Elenurm
Abstract: In this article, we reveal how and why firm level and institutional distance influence the entry mode choice of Finnish SMEs in Estonia. This paper investigates the impact of firm characteristics and institutional distance on establishment mode choice decision of Finnish SMEs in Estonia. We use case study approach based on in-depth interviews with decision makers of SMEs operating in Estonia and follow-up interviews in order to deepen results of the first research stage. The results shows that formal institutional factors combined with firm level factors affect the decision of establishment mode choice in Estonia, while informal institutions have not had significant effect on choice between greenfield vs. acquisition in case of Finnish SMEs. Overall, our study contributes to a more nuanced view of choice of foreign market entry mode of SMEs and highlights future research opportunities that exist for considering strategy imitation and its implications in international business research.
Keywords: Small and medium sized enterprises (SMEs); formal and informal institutional distance; establishment mode; foreign direct investment; firm level factors; greenfield vs. acquisition.
Unlearning: A systematic literature review
by Susanne Durst, Ilka Heinze, Thomas Henschel, Nishad Nawaz
Abstract: This paper aims to provide a systematic review on the topic of unlearning (and the related concept of unlearning) to establish the current body of knowledge. Despite the growing popularity of the topic, little research so far has aimed to contribute to extant literature by providing a detailed examination that includes all aspects of unlearning. Thus to reach our aim 72 refereed articles were analysed. The findings are synthesised not only in regard to the broad concepts of unlearning and forgetting but also regarding general issues such as operationalisation, research methodology and level of analysis. Based on this a number of research questions are proposed that aim at guiding and informing future research activities. The findings contribute to a more holistic understanding of the topic and complement extant literature on unlearning.
Keywords: Unlearning; Forgetting; Knowledge Management; Change Management; Strategic Management; Learning; Innovation; Systematic Literature Review.
Trade Performance between India and BIMSTEC Countries Pre- and Post- Formation of Bloc
by Jasdeep Kaur Dhami, Gurpreet Kaur, Sangram Singh
Abstract: The main aim of this paper is to analyse the trade performance of BIMSTEC nations during the pre- and post-era with the help of various trade indices. BIMSTEC was established in 1997 for taking care of economic interests, and emerged from India's Look East policy and Thailand's Look West policy. India had better export-import complementarity with Thailand and judicious with other BIMSTEC countries. After the formation of BIMSTEC, trade prospects have been open for other economies such as Sri Lanka, Nepal and Myanmar also. Indias export diversification to other BIMSTEC nations has been increased during the period of 1998 to 2015 i.e. after the formation of bloc. In case of imports moderate rate of diversification has been noticed during the period of 1998 to 2015. There is a scope of trade with BIMSTEC member nations. Results stated that the economic situation of BIMSTEC countries has been very promising. This may be beneficial for the South-East Asian region for establishment their trade relations with rest of the world.
Keywords: BIMSTEC and India; Trade; Imports; Exports; Trade indices.
Factors Impacting the Marketing Consulting Services in Emerging Markets-An Empirical Study in Vietnam
by Thomas Tanner, Phong Nguyen, Trang Bui, Lam Nguyen
Abstract: Purpose The purpose of this mixed methods paper is to focus on exploring and analyzing the influencing factors on the development of marketing consulting services in Vietnam and thus proposing some practical solutions to promoting this service.rnrnDesign/Methodology/Approach - The qualitative methodology is used to explore, adjust and provide observation variables for measuring factors. The quantitative methodology is used to test the research model to determine the relationship between factors that affect the development of the marketing consulting services. The study is based on a scale for measuring factors and the qualitative results are adjusted to business context in Vietnam.rnrnFindings Using correlations and multiple regressions statistical analysis, the study found that recognition of need, affordability and willingness to pay of service receiver, capability and ability of provider, perceive value of service, and source of information on service providers are correlated with development of marketing consulting services.
Keywords: Marketing Consulting Services; Perceived Quality; Perceived Value; Recognition of Need; Vietnam.
DEVELOPMENT STRATEGY OF BANDUNG CREATIVE CITY THROUGH
THE PERFORMANCE IMPROVEMENT OF CREATIVE INDUSTRIES
by Mohammad Benny Alexandri, Samun Jaja Raharja
Abstract: In 2015, UNESCO declared Bandung City a Creative City. The development of Bandung
as a Creative City has been studied and formulated in its Creative City Road Map which sets six indicators: creative policy; creative infrastructure; law, ethics and intellectual property rights; creative support system; creative capacity and economic contributions.The study objectives are to map the performance and competitive advantage of small or medium enterprises in the creative industry in Bandung City, Indonesia. Thus, this study employed SWOT analysis on creative industry businesses from 30 districts in Bandung City, Indonesia.
Keywords: Creative City; creative industry; indicator.
A comparative analysis of Mergers and Acquisition (M & A) in Indian & international pharmaceutical industry with unique case-lets
by Syed Naser, Som Sekhar Bhattacharyya
Abstract: Mergers and Acquisition (M & A) is a potent method for firms to secure inorganic growth but it is also beset with challenges. Pharmaceutical industry has a unique nature due to higher involvement of science in product development and requires firms to develop distinctive and complex capabilities. In this study the authors undertake a comparative study of different pharmaceutical cases to gather perspectives on M & A practices in Indian and international pharmaceutical industry. Frameworks developed by Bower (2001) & Dyer (2004) are applied to different M & As to understand their applicability and use in Indian & international pharmaceutical contexts. The authors found that Indian firms undertake M & A to reduce R & D investments, to secure strategic resources and to expand product & market reach. Pharmaceutical firms from developed countries mostly acquire firms from developing market for sake of manufacturing know how and for securing host market.
Keywords: Mergers and Acquisition (M & A); Indian pharmaceutical industry; International pharmaceutical industry; Business performance.
Identification of Factors for the Success of the Sri Lankan Independent Inventors
by SWSB Dasanayaka, HGGK Rangajeewa, Omar Al Serhan
Abstract: Sustainable economic growth is, in theory, positively related to Schumpeterian creative destruction, which occurs due to innovation, technological change, and entrepreneurship - factors that can transform inventions into marketable innovations. Sri Lanka has produced many independent inventors with high technical merit, and many of have won awards in international competitions and exhibitions. However, the country remains heavily dependent on the import of technologies. By improving the local innovation system, the country may be able to achieve a higher level of economic success. In this study, we investigate award winners of the Sri Lanka Inventors Commission (SLIC), who likely have the highest potential to commercialize their inventions. We conduct a detailed survey of award winners demography, inventive, and commercialisation aspects, and find that around 75% of the local independent inventors have not achieved commercial success due to insufficient support from external parties. Based on our findings, we make recommendations for inventors, national entities such as the SLIC, and supranational entities interested in promoting economic development regarding the proper use of the invention process and support for the facilitation of commercialisation of these inventions.
Keywords: Invention; Innovation; Commercialisation; Technology Management; Economic growth; Sri Lanka.
Managing Shareholders in Turbulent Times: Evidence from Indian Stock Market
by Timcy Sachdeva
Abstract: Efficient-market hypothesis (EMH) theory is a well recognised postulation in financial economics. Changes in the stock prices during the turbulent times provide an opportunity to test the validity of EMH. Unexpected events such as stock market crashes, political events, earthquakes, terrorist attacks etc. put more stress on the financial markets and efficiency fails to explain market anomalies, including speculative bubbles and excess volatility. In efficient market the stock prices are expected to behave differently in response to such events, as the new information will have different economic impact on individual firms as well as shareholders wealth. Contrary to rational expectations, market participants act irrationally in favor of potential arbitrage opportunities. This paper investigates the pricing behavior of Indian stock market with the sudden changes in high denomination currency notes on shareholders wealth. Using event study methodology, the paper analyses the major political event that had strong economic implication on market participants. The results indicate insignificant negative abnormal returns to shareholders of Indian companies.
Keywords: Event Study; Efficient-Market Hypothesis; Demonetisation; Unexpected Events; Stock Market.
Cross-border Acquisitions and Institutional Distance: Does Country Connectedness Matter?
by Kun (Michelle) Yang, Vigdis Boasson
Abstract: A cross-border acquisition involves not only overcoming the barriers of geographic distance but also institutional distance (ID). Although the existing literature has devoted considerable attention to various aspects of ID separately, there is little understanding of the potential interactions between the formal and informal aspects of ID. We examine the effects of these two aspects of ID simultaneously on cross-border acquisitions and test their interactions. Meanwhile, we study the traditionally neglected country-connectedness factor and examine its impact on the relationship between ID and cross-border M&As. Our results show that the formal and informal institutional distances do not have the same negative impact on the magnitude of cross-border M&As and that the country connectedness plays a vital role in influencing cross-border acquisitions and shortening ID between the dyadic countries. Our findings provide strategy implications for corporations engaged in cross-border acquisitions.
Keywords: cross-border acquisitions; institutional distance; country connectedness; formal and informal institutions.
CASE STUDY OF A SUCCESSFUL ENTREPRENEUR IN THE HOTEL INDUSTRY IN GHANA: LESSONS FOR AFRICAN BUSINESSES.
by Ben Honyenuga
Abstract: This paper presents a case study of a successful entrepreneur in the hotel industry in Ghana. The purpose is to document the opportunities and challenges as well as to celebrate the successes associated with indigenous African businesses and entrepreneurship. This is a case study research and due to the nature of the study a qualitative inductive approach was adopted and data was collected using key informant interviews coupled with participant and non-participant observations. The contribution of this paper lies in the lessons that could be drawn by current and future entrepreneurs and provides opportunity for future research on African businesses and entrepreneurship.
Keywords: African business; Entrepreneurship; Hotel industry; Hotel business; Indigenous business.
The Influence of Human Rights Indicators on Foreign Direct Investment (FDI)
by Irene Goll, Abhijit Roy
Abstract: ABSTRACTrn This study examines the relationship between a countrys respect for human rights and the foreign direct investment (FDI) it attracts. It addresses the questions of whether a nations respect for human development, progress and freedom are a determinant of investment in the global economy. The study uses cross-sectional data from public sources including the World Bank and UNCTAD for 117 countries. Hierarchical regressions were used to analyze the data. Countries with greater institutional advancement (i.e., those that encouraged voice/accountability and those that contributed to political stability and the lack of violence), as well as those with greater economic (lesser corruption and greater labor freedom) and non-economic human development outcomes (such as opportunities for human rights) were shown to attract greater FDI. Furthermore, countries with greater global competitiveness also attract more FDI for those that are innovation and efficiency driven, but not for those that are factor driven. The managerial and public policy implications are also provided.rn
Keywords: Human Rights; foreign direct investment; FDI.
Analysing Profitability and its Determinants in Maharatna Enterprises in India: A Panel Data Approach
by Krishna Singh, Debasish Sur
Abstract: The present paper attempts to analyse the profitability of the Maharatna CPSEs in India using panel data analysis approach during the period 2002 to 2014. Return on capital employed (ROCE) was used in this study as the profitability measure. The study revealed a wide variation in the level of profitability across the Maharatna companies. The stationarity of the ROCE was checked through four types of panel unit root tests. The results obtained in these tests showed that the data of ROCE in all the Maharatna companies were stationary in nature. A fixed effect regression model was applied in analysing the determinants of profitability of the Maharatna companies.
Keywords: Profitability; Maharatna Companies; ROCE; Stationarity.
Using multivariate analysis to understand the youth socioeconomic insertion in Morocco
by Chafik Bakour, Riad ABADLI, Mohamed Yassine Abahamid
Abstract: Because of its multidimensional nature, the youths integration process is highly complex. The success of any youths integration policy must be based on effective strategies for young people to explore and exploit the various opportunities and protect against various threats. In this paper we mobilize the statistical tools of multivariate analysis to highlight the issue of the insertion of young people using two approaches: First the inertia based on factorial analysis techniques, this approach develops a score to measure and summarize the socio-economic conditions of insertion of young people, then we will use the algorithm of hierarchical classification that will allow us to bring together young people in socio-economic class to seize their heterogeneity, and facilitate the targeting of the most disadvantaged. The analysis helped to highlight the plight of young Moroccans and seize the structural nature of the barriers that undermine their socio-economic integration. The rate of young people in difficulty of insertion is very large at height of 48% reflecting the need for immediate action and development of universal and structural solutions to address this alarming situation. However, the classification that we have undertaken highlighted a particular subclass of young people who suffer from an extremely strong exclusion what makes the point about the difference required in the treatment envisaged during the development of public policies; such a class requires attention privileged about other young people who find themselves in a situation of vulnerability. Schooling, access to the means of information and communication, the exercise of parallel activity especially sport and reading, good health practices and knowledge are factors that play the major role in the integration process. The analysis made the point also on the process of reproductions of the inequality that characterizes Moroccan society.
Keywords: Approach inertia; factorial analysis; ascending hierarchical classification; socioeconomic integration of youth.
AN ECONOMETRIC ANALYSIS OF THE UNDERGROUND ECONOMY AND TAX EVASION IN KUWAIT
by Awadh Gamal, Jauhari Jauhari, ,. K.Kuperan Viswanathan
Abstract: Up to now, no individual study on Kuwait with respect to the underground economy and tax evasion has been conducted using the recent adjusted form of Currency Demand Function Model (CDFM) before. This paper estimates the size of underground economy behind tax evasion from 1991: Q1 to 2010: Q4. It applies the Zivot-Andrews (ZA) procedure for the stationarity analysis, and Gregory-Hansen (GH) long run cointegrating technique for estimating the underground economy based on the adjusted currency demand function approach. While the General-to-Specific technique is used to estimate the short-run error correction model. Toda-Yamamoto test is also used to explore the causal relationship between the underground economy and the non-oil tax revenues variable. It finds that the averaged sizes of the underground economy and the tax evasion to the official Gross Domestic Product (GDP) in Kuwait constituted about 24.95%, and 2.83% respectively.
Keywords: Underground Economy; Tax Evasion; Stationarity with Structural Break; Gregory-Hansen Cointegration Test; Adjusted Currency Demand Function Approach; Toda-Yamamoto Test.
Human Resource Management and character building: Route to business sustainability
by DHIRAJ A., MANOJ JOSHI, ASHOK KUMAR
Abstract: Apparently, the western and eastern theories of Human Resource Management (HRM) uncover a gap in the hypothetical learning in regard of human asset improvement through Character building. Further research is required in building a down to earth structure on portraying character and clarifying its progression towards sustainable business development. This research study presents a logical model, which explains the connection amongst character and HRM. The goal of this research paper is to investigate what character implies, and how it could be assessed through a methodological study? The layout of this paper is reflective and expressive. Character is characterised as the sum total of the bend of a persons mind; greater part of the generally tenacious good qualities a man has that consolidates to frame his genuine character. For any organisation to grow and sustain, human resource department should maintain a systematic training methodology focused on character building with continuity.
Keywords: Business; Character; Character building; Character merits; HRD; Human resource development; HRM; Human resource management; Sustainable; Training; Volunteer.
Promoting Informal Businesses in Africa: Insights from an Entrepreneurial Journey in Mafalala: Mozambique
by WILFRED ISAK APRIL
Abstract: Background: Under the colonial rule the Portuguese with little education and relative small income colonised Mozambique. Even at independence the country was unable to witnessed significant growth due to the Marxist dictatorship. This is evident in a very popular neighbourhood called Mafalala in Maputo: Mozambique where changes appear to be minimal after independence.
Purpose: This chapter will give an exploratory account of entrepreneurial initiatives of the people in the neighbourhood of Mafalala. In addition the chapter will highlight some of the major milestones which the communities achieved in this twenty first century.
Methodology: The chapter utilises primary data mainly from participant observation, life stories and interviews with the communities of Mafalala.
Conclusion: It is clear from this study that the people of Mafalala have the strong desire for self-sustenance and desire to rebuild their community and improve their livelihoods. Without a doubt a lot needs to happen, but the people of Mafalala are willing to take that first step in the right direction.rnrn
Keywords: Entrepreneurial Journey; Informal Businesses; Africa; Mafalala and Mozambique.
Are small women entrepreneurs resilient? Highlighting the roles of entrepreneurial competencies and motivation.
by Fanny Adams Quagrainie
Abstract: Entrepreneurial resilience (ER) of small business is seen as a viable developmental strategy. However, our understanding of the dynamics of ER in relationship to entrepreneurial competencies (EC) and how this relationship relates to entrepreneurial motivation (EM) remains limited in small women entrepreneurship literature. The objective of this study is to examine the relationship between ECs and ER and how the relationship is mediated by EM. Using convenience sampling and questionnaires, data was collected from 373 women in Tema. Multiple regression was used to analysis the data. While the findings indicate that the women possess conceptual, business management, personal and human relations competencies, business management and human relationship competencies are not associated with ER whilst EM partial mediated the relationship. The study concludes that small women entrepreneurs are capable of creating resilient businesses if they are willing to equip themselves with the appropriate ECs irrespective of motivators that informed their entrepreneurship. The paper has implication for both policy makers and business practitioners.
Keywords: entrepreneurial competencies; resilience; motivation; Ghana; small women entrepreneurs; embeddedness.
INDIRECT CORPORATE AGRICULTURAL LAND USE IN UKRAINE: DISTRIBUTION, CAUSES, CONSEQUENCES
by Andrii Martyn, Oleksandr Shevchenko, Ruslan Tykhenko, Ivan Openko, Oleksiy Zhuk, Oleksandr Krasnolutsky
Abstract: In the example of Ukraine, it has been studied the conditions of ever-growing popularity of new forms of indirect control over land resources in the field of agriculture, when agricultural enterprises do not acquire any property rights or the rights on land use and, instead, they tend to use land plots of the subsidiary companies that act as nominee land users. The research findings have shown that the traditional forms of state regulation of the agricultural land market are currently losing their effectiveness. Furthermore, land right acquisition is more and more often being fulfilled not by buying land plots but through acquiring corporate rights for the companies that own or use land nominally. The directions of control improvement over economic concentration of land resources in agriculture have been substantiated in the conducted research.
Keywords: agricultural land market; agroholding; agricultural lands; corporate enterprises; economic concentration.
Consumers Perception towards Private Label Brands in Delhi Region
by Nidhi Tandon, Jayender Verma
Abstract: Indian retail industry is witnessing an unparalleled growth with retail name coming up in the market every day. Due to private label brands the organised retailing is growing at rapid pace. The aim of research is to understand the perception of consumers towards private label brands. The study also reveals the factors that influence the PLB purchase behaviour. The research also examines the most preferred category in PLB. The research study is descriptive in nature and the sample size for this study is 120 from South-West Delhi region with the help of structured questionnaire. In the research it is found that sales offer is one of influencing factor followed by accessibility of products and low price which drive the consumer to purchase the private label brands.
Keywords: Retailers; Private Label Brands; PLB; Manufacture Brands; MB; Purchase Behaviour.
Repercussion of FDI on Employment Generation in Indian Retail: A Statistical Analysis
by Nupur Goel
Abstract: Post global economic slowdown, India is bearing the balance of payments and trade deficit complications regularly. Foreign investment is the only way to come out from this critical situation and Indian Government had removed the hurdles of foreign investors to enter 100% in single brand retail as well as 51% in multi brand retail. This research attempts to analyze the necessity of Foreign Direct Investment (FDI) and its role in employment generation in Indian retail sector during the last decade via statistical analysis. Here, FDI is considered as an independent variable and employment as dependent variable. The results are obtained from the correlation test and regression analysis with the help of IBM-SPSS. An analysis has been performed by using ordinary least square (OLS) method to show that FDI in retail sector has positive impact on the employment generation. Lastly, based on the inference obtained, few suggestions have been made for the policy makers, local retailers and foreign investors to negate the FDI challenges on the Indian skilled and unskilled job seekers.
Keywords: Indian retail sector; Foreign Direct Investment; Employment; Correlation test; Simple regression analysis; IBM-SPSS.
Determinants of Private Savings in Fiji: An Empirical Analysis using Autoregressive Distributed Lag Approach for the period 1970-2015
by Shabnam Bano
Abstract: This study examines the behaviour of private savings in Fiji for the period 1970 2015 using ARDL approach for selected determinants and with latest available data. The estimated results reveal that savings behaviour is explained by life cycle and permanent income hypothesis, with accumulated wealth, real interest rate, and political instability reflecting a positive and significant influence on private savings while dependency ratio, agricultural activities, domestic credit and real GDP per capita showing a negative but significant influence on private savings. Inflation was also included as an important savings determinant but the results reflected an insignificant impact on private savings. Based on the research, an important policy implication has been reached that government rational actions can help stimulate savings culture in the economy. The Government needs to ensure a positive economic environment in the country through avoidance of political instabilities, bank collapses, establishment of better financial products, liberalization policies and an extensive awareness program for the Fijians to learn the methodologies of savings for future.
Keywords: Private Savings; determinants; life cycle hypothesis; ARDL framework; Fiji.
Employment Generation Growth Rate In Enterprises among Indian states
by Mohammed Shettima, Priyanka Banerji
Abstract: The SME sector is exceedingly an imperative segment of the economy because of its contribution to GDP, exports, Job creation, and overall social and economic development. Government designs policies, programmes, schemes and ensures its effectual execution for the augmentation and expansion of the MSMEs. Conclusion in the study revealed that there are disparities in the Indian states share of employment generated by MSMEs. This may be due to several factors which may comprise inadequate and asymmetrical access to finance, lack of infrastructures, obsolete technology, unproductive market linkages, lack of awareness among others. Data is been obtained from the secondary source and Thiele-T statistics model is used to examine the inter-state disparities and employment generation growth rate of enterprises. New business models and strategies are recommended in the paper to increase employment generation by MSMEs in the society at large. Government needs to acquire effective procedures by having an undeviating intercession to the enterprises so that the lagging states are endowed with the indispensable resources which on the whole guarantee a sustainable employment generation growth rate.
Keywords: Challenges; Disparities; Employment generation; Growth rate; India; MSMEs; State’s share.
LOCAL ECONOMIC DEVELOPMENT AND SMALL BUSINESS FAILURE: THE CASE OF A LOCAL MUNICIPALITY IN SOUTH AFRICA
by Silas Mukwarami, Josephat Mukwarami, Robertson Tengeh
Abstract: The notion of growing local economies through promoting Small, Medium and Micro Enterprises (SMMEs) features persistently in the local economic development (LED) discourses, particularly in the developing countries. Despite concerted efforts to nurture SMMEs through a number of methods, including LED initiatives, a high failure rate persists in South Africa. As the quest for a sustainable solution continues, this paper investigates the challenges that SMMEs face in the context of the Bushbuckridge Local Municipality (BLM). The quantitative approach was adopted for data collection. Through the use of a survey, questionnaire data were collected from a sample of fifty owners/managers who were reached through the stratified sampling technique. The study singled out lack financial assistance, managerial skills, inaccessible global markets as the most dominant challenges to the development of SMMEs apart a from high crime rate and the fear of xenophobia. Lack of technology and insufficient government received far lesser support from participants as they were perceived to have less impact on SMMEs growth. The study suggests that without addressing financial inaccessibility and poor managerial skills, the growth of SMMEs remains a far-reaching goal. Similarly, integration of new technology within the SMMEs environment cannot be underestimated in fighting crime and accessing global markets. The uniqueness of this paper lies in the attention that it draws to the ineffectiveness of LED programmes at the grassroots level with specific reference to rural municipalities.
Keywords: Local Economic Development; SMMEs; small business Development.
Contributing Factors of Women Entrepreneurs business growth and failure in Pakistan
by Shaista Noor, Filzah Md Isa
Abstract: Women entrepreneurship is considered as a leading building block of the economy in almost all countries as it plays an important role in job creation, self-development and pay back as economic progress of the country. However, Pakistan being a developing country, is in the initial phase of entrepreneurship, and has a low rate of female participation in economic activity. A report by the Global Economy (2016) stated that womens economic participation and opportunities in Pakistan is ranked as 143 out of 144.To further understand these two important issues, a qualitative study was conducted in the twin cities of Rawalpindi and Islamabad which involved an interview process with 25 female entrepreneurs. The findings revealed that complex governmental policies and financial institution's procedures are the main reason of their failure to achieve their entrepreneurial objectives. The main obstacles faced by women entrepreneurs are lack of confidence, less education and market awareness, dual role (home manager & business manager), low bargaining abilities and mobility constraints. The study will be useful for policy makers to formulate the policies and strategies in order to promote women entrepreneurship.
Keywords: women entrepreneurship; success; business growth; challenges; Pakistan.
The role of perceived economic well-being and conspicuous consumption in creating customer wealth
by Neena Sinha, Pranay Verma
Abstract: Technology acceptance model (TAM) is a well documented field of study. At the aggregate level the impact of intention to use mobile phone based services is analysed comprehensively but at an individual level it is not well documented. If we consider the user as a customer of mobile based services, consequence of intention to use mobile phone based services in creation of wealth for this customer has not been researched. Therefore in this paper we define the constructs of customer wealth and develop the conceptual model linking intention to use and customer wealth. After due diligence a twelve item questionnaire was floated to test the construct. An exploratory factor analysis was run on the data followed by a confirmatory analysis. Both the tests confirmed the customer wealth scale involves the role of perceived economic well being and conspicuous consumption. This instrument can be used by government agencies to measure the effectiveness of poverty alleviation programs.
Keywords: Customer wealth; Perceived economic well-being; conspicuous consumption; product innovation; Structural equation modeling; Agricultural extension services; Bottom of the pyramid.
A Case Study of Indian Automobile Industry on Talent Management with regard to Work Culture Practice
by Richa Nangia, Abhilasha Dudeja
Abstract: Purpose: The aim behind the study is to understand the Talent Management Scenario in Indian Automobile Industry and its challenges. Also analysis is done to understand the work culture practices from employee perspective.
Research Methodology: Both primary and secondary data has been collected for study. Statistical tools like: correlation and cross-tab chi square test will be used for analysis and interpretation of data.
Managerial Implications: The major groups of interest (i.e. management students, academicians, researchers, practicing managers) will be able to understand the scenario of talent management in a better way.
Findings: As per the current study, Talent management practices are not prevalent in Indian automobile industry. The Industry is facing challenges like: workforce diversity, maintaining work-culture etc.
Work culture as per employees perspective does not have an impact on overall effectiveness of work culture practices.
Scope for Further Research: The similar kind of framework can be applied to any other industry.
Keywords: Talent Management; Work Culture Practices; Employee Perspective; Indian Automobile Industry; Strategic Human Resource Management.
Rent seeking behaviour: knowledge transfer as informal control mechanism in high technology alliances
by Khalid M. Bhatti, Saba Khalid
Abstract: This study focuses on the knowledge transfer rent seeking behaviour of MNCs and aims to analyse how MNCs safeguard the alliance by utilizing knowledge transfer as an informal control mechanism. Therefore, this study underlines the notion that, as contracts are inherently incomplete, alliance relationships need to maintain mutual dependence based on control mechanisms, in addition to a contract. The alliance relationship of the focal-firm STMicroelectronics and its alliance partners Nokia and Ericsson in the semiconductor industry is examined using qualitative data collected through semi- structured face-to-face interviews. The findings highlight mutual dependence through inter-firm knowledge sharing in incomplete contracts. The study confirms the knowledge transfer rent seeking behaviour of the partner firms when the strategic motive is to transfer knowledge with the objective of creating synergy and mutual dependence. Lastly, the findings establish knowledge transfer as a control mechanism in an alliance.
Keywords: knowledge sharing; strategic alliances; inter-firm control mechanisms; syncretic rent-seeking; dependence; focal firm.
Plural Forms of Governance for International Strategic Alliances: Toward an Integrative Framework
by Tao (Tony) Gao
Abstract: Many international strategic alliances (ISAs) are characterised by plural forms of governance whereby individual, generic alliance arrangements such as equity investment, licencing, management contracts, and supply agreements coexist. Yet, most existing research on ISA governance decisions either deals with the choice of alliances against market transactions or hierarchy or studies the choice of one mode of alliance against another (such as equity versus non-equity alliances). Very limited insight is available on multinational companies simultaneous inclusions of several, rather than only one, generic modes of alliance to establish plural ISAs for their international operations. In this paper, we tackle the issue of plural alliances in the context of selecting forms of governance for international strategic alliances.
Drawing from diverse theories on interorganisational relationships, transaction cost theory, competitive strategy, organisational learning, relationship marketing, and foreign market entry modes, this paper develops an integrative conceptual model that guides company decisions on choosing plural governance forms for international strategic alliances. Research and managerial implications of the study are discussed.
Keywords: International strategic alliances; foreign market entry modes; governance form; plural governance form; equity investment; licencing; trust; control; bargaining power; and dependence.
The Emerging Mutual Fund Industry in India: An Impact Analysis of Investors Awareness on Investment Behaviour
by SODI JASBIRKAUR, JEHANGIR BHARUCHA
Abstract: India has more than 1.2 billion people,yet a mere 3.5 % are mutual fund unit investors. This study attemptsto explore investors awareness, perception and experiences towards mutual funds in the Indian city of Indore. The sample size covered 300 investors in Indore who were spread throughout the city and its suburbs. A series of chi square tests were conducted on the data. Out of the respondents, 68 are not even aware of mutual funds and of the 196 respondents who are aware of mutual funds, only 68 (34.69%) have invested in mutual funds. The fixed deposits of banks are the most preferred channel of investment. This study has shown that investment in mutual funds is more often influenced by qualifications, occupation and income. The issue of low penetration of mutual funds should be tackled in the larger context by increasing the level of financial literacy of Indian investors. The Indian mutual fund industry would see its global peak provided it can ensure penetration in all regions in India.
Keywords: Mutual funds; low market penetration; investments; awareness of mutual funds; financial literacy.
Understanding Small- and medium-sized Entrepreneurs Export Motivations: An Integrative Cognition Approach
by Kim Hoe Looi
Abstract: Drawing from two cognitive theories (i.e., values theory and theory of planned behaviour), this study proposes a theoretically driven integrated model to offer entrepreneurship scholars a richer understanding of small- and medium-sized entrepreneurs psychological process of how their individualistic values are translated to export intention to new markets. Survey data from 243 Malaysian owners and managers of food and beverages companies were analysed with the structural equation modelling technique. The theoretically driven integrative model is empirically supported. Specifically, intrinsic motivations of self-direction and stimulation drive small- and medium-sized entrepreneurs export intentions to new markets, suggesting small- and medium-sized entrepreneurs goals of self-actualisation, self-development, growth and self-expansion. Additionally, the theoretically driven integrative model extends existing entrepreneurship theory and research using the theory of planned behaviour by tracing the root cause of the non-significant effect of normative beliefs on export intention, thus contributing to a more sophisticated theoretical model of the entrepreneurial process.
Keywords: Export intention; small- and medium-sized entrepreneurs; entrepreneurial cognition; entrepreneurial values; theory of planned behaviour; Malaysia.
Business Model and Financial Performance of Food SMEs: Mediation by Competitive Advantage
by Heena Chauhan, Anjani Kumar Singh, Suresh Sachdeva
Abstract: Earlier studies established the direct effect of the business model on financial performance and competitive advantage but this study attempts to examine the mediator role of competitive advantage on the association of business model and financial performance. Primary data is collected from 262 food SMEs in New Delhi NCR using well designed questionnaire and data is analysis is done using SPSS 20 and AMOS 21. Structural equation model was adopted to explain the path analysis. The relationship between business model and competitive advantage; and the relationship between competitive advantage and financial performance are significant in indirect effect. It confirms the full mediation of competitive advantage between business model and financial performance. This study will contribute to the existing research on explanatory roles of business model and effect of the mediating role of competitive advantage. In further studies, business model and financial performance can be attempted as mediators.
Keywords: Business; Business Model; Competitive Advantage; Financial Performance; SMEs.
Transnational textile outsourcing: exceptional or standard?
by Arturo Luque, Adoración Guamán
Abstract: The aim of this investigation is to quantitatively analyze the new methods of production and organization in the textile business. Free flow of funds together with textile hyper-consumption have led to organizational models based on processes of externalization, outsourcing, export, internationalization, and so on. Because of the transverse nature of the study subject, as well as the opportunities and asymmetries generated in the textile industry, a Delphi analysis is proposed as a way to analyze this new paradigm. A panel of 55 experts were given multidisciplinary questionnaires and their responses were studied, taking into account the degree of affinity (test) of the statements posed in order to reflect on and modify future action by production companies.
Keywords: Globalization; corporate social responsibility; transnational companies; Delphi; outsourcing.
A DIVERGENCE-OF-EXPECTATIONS APPROACH TO THE ASSESSMENT OF COUNTRY RISK
by Dante Di Gregorio, Douglas Thomas
Abstract: We introduce a new way to conceptualise, assess and manage country risk. Departing from
standard approaches that equate risk with expected values (e.g., lower growth implies higher
risk), our approach equates risk with the variance of expectations (e.g., greater variation in expectations of growth implies higher risk). The variance-of-expectations approach is more consistent with the manner in which managers conceptualise risk as unpredictability, the chance of loss, and the magnitude of loss. The approach is illustrated through the construction of country risk measures derived from cross-national survey data collected by the World Bank. Evidence suggests that the variance-of-expectations approach to country risk assessment introduces new information beyond conventional approaches and may also be more likely to help managers anticipate unfavorable changes in a countrys operating environment.
Keywords: country risk; political risk; environmental shocks; international business; globalisation; political risk; market entry.
A Cultural Biography of Pearls in the Ilkhanate (1260-1335)
by Matanya Gill
Abstract: Pearls, like other luxury goods, were very popular among the Mongols and otherrnaffluent societies. The trade in pearls flourished under the Mongols, especially duringrnthe time of the Ilkhanate (the Mongol state that ruled over approximately present-dayrnIran and Iraq, c. 1260-1335). This paper aims to explore the importance of the role ofrnpearls as luxurious animal products in the Ilkhanate by creating a cultural biography ofrnpearls. This cultural biography of Ilkhanid pearls, based mainly on prosopographicalrnanalysis of the biographical data obtained regarding merchants who operated in thernIlkhanate, together with information on pearls in other contemporaneous sources andrnsecondary literature, will analyze the cycles of production, trade and consumption,rnhighlighting the following issues: pearls as a unique animal product, pearls asrninstrumental in shaping trade routes, and the impact ofpearls on the personal careers ofrnmerchants in different contexts of the Ilkhanate.
Keywords: Pearls Indian Ocean; Mongol Emprie ; Global trade; Maritime silk road.
RELATIONSHIP BETWEEN REAL INCOME AND FOREIGN REMITTANCE: A CASE STUDY OF INDIA
by Amit Banerji
Abstract: India receives the highest foreign remittance from immigrants. They provide a steady and dependable cushion in maintenance of balance of payments. Indias trade deficit has almost been matched by the net invisibles since Independence of which remittances are a significant portion. This study presents a picture of contrast of the impact of foreign remittance from 1980 onwards and suggests a deeper look in the phenomenon. The economic impact of remittances has been doubtful and varied. However studies regarding their impact on real income have been few with regard to recent surges in remittance. In this study, impact of foreign remittances on real income has been studied.
Keywords: continuous compounding; real income; consumption; altruism.
IMPACT OF FOREIGN DIRECT INVESTMENT AND URBANIZATION ON CO2 EMISSIONS IN VIETNAM.
by Bui Anh Tuan, Ho Thuy Ngoc, Nguyen Ngoc Dat, Dao Trung Kien, Nguyen Van Duy
Abstract: Vietnam is considered one of the countries mostly affected by climate change due to CO2 emissions. Urbanization and foreign direct investment have been argued to be main causes. This study examines the impact of foreign direct investment and urbanization on CO2 emissions in Vietnam by applying the Autoregressive Distributed Lag (ARDL) model, testing reliability and correcting model. The research data was collected from the World Bank's tracking database between 1985 and 2016. The causal relationship among variables shows the impacts in short run and long run are different. We find that the relation between urbanization and CO2 emissions has changed from U-shaped in short term with the optimal lag 2 into inverse U-shape in long term. We realize that foreign direct investment is positively related to CO2 emission in short run while there is no such effect in the long run. Conclusions and policy implication for Vietnam are given accordingly.
Keywords: CO2 emissions; Foreign direct investment (FDI); GDP; Urbanization.
The Working Class: An entire class of people left behind
by Jeffrey Overall
Abstract: In Das Kapital, Karl Marx (1867) suggested that capitalism will lead to the perpetual exploitation of the working class. To address the issues raised by Marx, various measures, such as: trade unions, increasing the minimum wage, human rights legislation, labor law, and the welfare state have been established. However, even with these measures in place, the working class continue to experience exploitation and, as a result, an entire class of people are being left behind. In this research, using the Frankfurt School of Critical Theory as a theoretical foundation, I explore the issues facing the working class. The main contribution to knowledge involves not only building on the work of the critical theorists, but also establishing parallels between the totalitarian regimes described in their 20th century writing and 21st century society. Recommendations are offered to reconcile the issues raised and future directions are suggested.
Keywords: Capitalism; critical theory; escapism; Fromm; Marxist; proletariat; socialism; sustainability;.
An empirical investigation of Change in Control motive of open offer announcement on shareholders wealth of objective firms
by Rajit Verma, Kulwant Sharma
Abstract: Corporate restructuring always plays an essential role to restore the financial health of many companies worldwide. In Indian context, Open offer is becoming a prominent tool for the takeovers in order to safeguard the rights of minority shareholders (SAST 2011). Most of the Indian studies investigated that through open offers, the shareholders of the target companies can get the substantial advantages. The present study focused on Change in Control objective of open offer and its effects on the shareholders wealth of target companies listed on S&P BSE in India. The present study used a total sample of 115 open offers, out of which 96 offers were based on Change in Control objective and, 46 companies qualified for the final analysis for the period 2015-2017. The research is primarily based on standardized event study approach, further ARs, CARs, & CAARs were used to analyze the anomalous price behavior of sample firms within the standardized event window of 41 days using an estimation window 120 days. The results reflected that the Change in Control motive has significant positive impact on majority of the target companies in India with 22.38% cumulative excessive returns during the 41 days event window. The conclusion of the study explained that if such objective of open offer can be anticipated well than for the investors it can be a jackpot bonanza. Further the study supported the existing literature by testing the efficiency of Indian market in semi strong form.
Keywords: Open offers; Shareholders’ Wealth; Event Window; Estimation Window.
Implementation of Digital Strategy in Higher Educational Institutions in India
by Pooja Chaudhary, K.K. Sharma
Abstract: The higher education (HE) in India grew out of a colonial education system established by the British rule in the early 20th century. An appraisal of the existing system for the past 70 years shows that while there has been an impressive progress in taking education to the masses, yet many shortcomings and aberrations have crept into the delivery and management of this vital social sector. Various studies have highlighted major areas of concern as lack of financing, poor academic management, inadequate access, affordability issues and declining relevance of current HE. Ministry of Human Resources, Government of India (MHRD) has set in motion an ambitious strategy to bring in digital enablement in Indias HE education delivery space. This has created implementable digital strategies for most of the educational institutions, firmly backed up by the central governments initiatives. Most of these strategies were developed in the last five years, primarily to use shift towards new technologies. rnrnThe study also looked at the digital initiatives in various educational sectors of Organization for Economic Co-operation and Development (OECD), North American, Chinese and Australian institutions. This provided some available solutions for implementation of digital strategies in Indian context. Implementation must enable enhancement of student experience in terms of learning outcomes. rnrnStudy was carried out through an unstructured questionnaire and inputs received from various stakeholders. Results reveal that institutes lack vision, preparedness and commitment for technology implementation. The institutions at tier two and three remain stuck in statuesque and have failed to take this technology enabling eco-systems down to students level. Investment in IT systems remains in laboratories and office work, without networking with the MHRD eco-system. The study can be further extended to control and monitoring mechanisms to realize the strategic vision of digital universities and a higher gross enrolment ratio with quality education.rnrn
Keywords: Higher education; online education; digital strategy implementation; university education delivery.
An Empirical Investigation of Retention Management by White Goods Retailers
by Bharucha J
Abstract: India has a large retail industry which has shown remarkable growth in the recent past and is undergoing a radical change. This study focuses on customer retention strategies adopted by retailers in the white goods Sector. It investigates various strategies, practices and techniques to ensure customer attraction, retention and loyalty. Retailers that have been surveyed for primary data collection are evenly distributed Mumbai city and its suburbs and include all those housing all income-range options. The questionnaire was administered to a total of 82 retailers out of which usable responses were received from 61 retailers. A series of more open-ended conversations were also conducted. Effective practices followed by specific retailers of consumer durables have been highlighted. The study concludes that the popular white goods retailers in Mumbai are combining and using diverse approaches in retaining customers in the industry and that these strategies have been effective. .Organizations today exist in a turbulent business environment. Satisfied customers are the companys relationship capita. Companies should follow a coordinated line of attack by a proper comprehension of the varied aspects of loyalty and frame their strategies accordingly.
Keywords: customer retention; white goods; strategies.
SEM Approach to Understanding M-Commerce Use in a Developing Country
by Reeti Agarwal, Ankit Mehrotra
Abstract: In the preceding few years, a substantial increase has been seen in the total of people using smart phones in India. This trend has resulted in customers carrying out more and more of their daily activities over a mobile phone. Deeper penetration and use of smartphones by Indians puts forth an immense potential for the M-commerce industry in India. However, to be able to successfully ride this positive wave, marketers need to be ready with effective m-commerce strategies. For their m-commerce strategies to be successfully leveraged, companies should understand how m-commerce is perceived by their target customers and should be able to identify factors which affect customers usage of M-commerce sites/apps. The present research was therefore undertaken to garner an insight into elements that affect use of m-commerce in a developing nation like India. Sample for the study consisted of 519 customers. Based on the responses gathered, a Structural Equation Model was developed wherein Perceived Ease of Use, Perceived Usefulness, Personal Innovativeness and Social Influence were established to be considerably influencing customers Current Usage Behaviour of M-commerce sites/apps. Current Usage Behaviour in turn was seen to significantly affect customers Intention of Future Use. The relationship between Current Usage Behaviour and Intention of Future Use was seen to be significantly influenced by age (used as a control variable).
Keywords: M-commerce; Confirmatory Factor Analysis (CFA); Structural Equation Model (SEM); Control variable; Current Usage Behaviour; Intention of Future Usage.
Optimised Business Model for Effective Charging of Batteries in Electric Vehicles
by INDIRA M S
Abstract: Electric vehicles are the future of sustainable green transportation system with an emerging market due to the aggressive policy by the governments world over on clean green energy initiatives to reduce the carbon foot print. The research is mainly concentrated on batteries: material, health monitoring and charging systems. Installation of super-fast battery charging gear in large numbers is required to alleviate the range anxiety of the EV owners. The proposed business model is based on the data base of users and batteries maintained at a Centralized Battery Management System (CBSMS), a smart battery rapid- tester, local load management system, battery bank and a solar photovoltaic grid integrated/standalone system or a mobile unit for battery charging and swapping. This technically and economically feasible model reduces the peak demand on the grid and rating of BESS in standalone SPV charging infrastructure leading to fast penetration of EV into the transportation system.
Keywords: Electric vehicles; range anxiety syndrome; battery charging stations; fast charging ports; battery health; battery swapping business model; smart battery rapid tester; SPV system for EV; electric highways; dynamic charging; sustainable green transportation.
Gender and Paternalistic leadership in a Chinese cultural context: a critical review, and future research trajectories
by Martin Sposato
Abstract: This article critically reviews paternalistic leadership in Chinese cultural societies, a segment of the paternalistic literature that has arguably attracted the most attention. This paper highlights the omission of gender elements in the conceptualisation, consequently leading to a male bias understanding of leadership in a Chinese cultural context. First, a critical review of the literature is presented, based on historical developments of the indigenous Chinese model of paternalistic leadership, a conceptualisation with clear roots in Confucian doctrine, and on the traditional gender roles in society but that ultimately does not account for current social changes. This review summarises the main contributions to the literature and its findings, critically analysing its limitations. Finally, within this article, research trajectories are suggested as a possible way to further research on paternalistic leadership, most notable being the gender bias problems that the paternalism has and its need for a modern update. A post-colonial feminist approach is suggested as a complement for the limitations of paternalistic leadership, as well as for its contextualisation in non-western societies. In addition, potential cross-cultural applications of paternalistic leadership are suggested. The trajectories presented in this article are not only relevant to the Chinese cultural context, but also for the paternalistic literature in general.rn
Keywords: Paternalistic leadership; China; leadership; post-colonial feminism; female leadership.
Objecting Authority: A Multi-Cultural Assessment of Non-Capitalistic Work Values
by Ben Bulmash
Abstract: Organisations in developed countries are often submerged in capitalistic ideals, where the bottom line mentality promoted by leading financial institutions directs all decision making and work activities. Individuals, nonetheless, may choose jobs and employers, and be motivated to work for a variety of reasons that may not correspond to corporate capitalistic ideals. Although individuals may not be fully aware of their incongruent needs and values, these preferences nonetheless could entail potentiality for work disruptions in the form of everyday resistance. In this work I study the relationship between employees organisational fit based on capitalistic ideals and attitude toward following supervisors work instructions in five OECD countries. Workers responses depict a workforce in which non-capitalistic ideals strongly compete with the capitalistic value system. Employees value incongruence shows to result in undesirable organisational outcomes, which according to the study findings, could be entirely avoided by organisations and societies as a whole.
Keywords: Capitalistic ideals; non-capitalistic work values; obedience; OECD; person-organisation fit; resistance; value congruence.
Historical developments in paternalistic leadership in China
by Martin Sposato
Abstract: This article critically reviews the historical development in the literature that provided the basis for the establishment of the Chinese version of paternalistic leadership, the most popular, well researched and better established indigenous Chinese theory of leadership. This article centres on the earlier theoretical and conceptual developments of the theory to establish how the current conceptualisations of paternalistic leadership originated. Furthermore, suggestions for further research avenues are presented for scholars to address and further advance the knowledge in the field of leadership in a Chinese cultural environment; arguably, the main limitation of the current conceptualisations of paternalist leadership is that it does not account for the roles of women in leadership positions.
Keywords: Leadership; paternalistic leadership; historical development; business; management.
Do Firms Perform Better During Re-internationalisation?
by Salman Ali
Abstract: Re-internationalisation, or firms re-entry into internationalisation after they had completely abandoned all their previous internationalisation efforts, is a less explored phenomenon. In this paper, we discuss findings from an empirical study that compares performance of re-internationalised Indian firms during re-internationalisation period as against during initial internationalisation period by using both primary and secondary data. Results from a survey administered among top-level managers of the re-internationalised firms indicated that firm performance during re-internationalisation is better and significant than during initial internationalisation. Results from the analysis of secondary data using various financial indicators of performance corroborated the findings from the survey results. Being the first among its kind, we expect this study sets a foundation for researchers to delve into deeper questions. This study also bears implications for practitioners on formulation of their strategies of internationalisation and re-internationalisation and for policymakers designing regulatory policies and subventions related to firm internationalisation and re-internationalisation.
Keywords: Internationalisation; De-internationalisation; Re-internationalisation; Firm Performance; Financial Performance; Organisational Learning; International Experience; Organisational Networks; India; Triangulation; Survey Data; Secondary Data.
Index Mutual Fund Schemes in India: A Performance Analysis
by Ainsley Granville Andre Jorge Bernard
Abstract: Mutual Funds exhibit a very dynamic nature and play a vital role in the economy by helping to mobilize savings of small investors and channelizing it to the capital markets thereby having short-run as well as long-term impact on the savings rate, the stock market and the national economy. Mutual Funds have opened up new avenues to investors and also brought liquidity in the investment arena thereby being transformational to the financial system in India. This study attempts to measure the risk-return profile of select index funds, evaluate their performance and make a comparative analysis with the benchmark Nifty 50.Ten index mutual fund schemes of various Asset Management Companies were considered for the study. Nifty 50 was considered as the benchmark since it is widely considered to be the best representative of the stock market performance in India. The findings may be useful for mutual fund houses, investors and other stakeholders.
Keywords: Mutual Funds; Index Funds; Asset Management Companies; Nifty 50; India.
Private labels and national brands: The case of India
by Sandeep Puri, Anam Qamar, Shalki Goyal
Abstract: The consumer perception towards private labels is changing and private labels are gaining acceptance especially in segments like food and apparel which are growing at a faster rate. Private labels have emerged as a key weapon for retailers and have started to play a vital role in the battle for control of the distribution channel and customer loyalty. Retailers are increasingly strengthening their private label portfolios to enhance margins and provide greater differentiation to the customers on the selling floor. This conceptual paper looks at the factors driving the growth of private labels in India. The paper also analyses the prospects of private labels in India.
Keywords: Private labels; National Brands; Retailing; Food and Grocery.
Intellectual Entrepreneurship and Future Success of Pakistani SMEs
by Muhammad Khalique, T. Ramayah, Jamal Abdul Nassir Bin Shaari
Abstract: In contemporary business environment, the small and medium enterprises (SMEs) are facing complex and multifaceted challenges to sustain and achieve competitive edge in the ever-increasing knowledge-based economy. In the beginning of the twenty first century the paradigm of the national and international business has entered into the age of distrust, discontinuity and uncertainty because of globalisation, technological advancement, innovation and Internet. In this economy, the most vital component of the success for SMEs is intellectual entrepreneurship. Intellectual entrepreneurship is considered as the silver bullet to address the long-standing challenges, survival and success of SMEs. The objective of this study is to address the conceptual theme and define the term intellectual entrepreneurship in business perspective. To the best of our knowledge this is the first study that addresses the importance of intellectual entrepreneurship and purposes its definition. Moreover, this paper wishes to highlights the practical challenges of Pakistani High-tech SMEs.
Keywords: Intellectual entrepreneurship; high-tech SMEs; practical challenges; knowledge customers; business success; Pakistan.
Assessing Loyalty Program Service Quality (LPSQual) of Departmental Stores in India
by Renu Bhardwaj
Abstract: Loyalty programs have become a potential weapon in the hands of retailers to buy customer loyalty. However, it is believed that effectiveness of these programs in fostering repeat patronage depend upon on its design as well as on service quality. Thus, the present study seeks to explore loyalty program service quality offered by departmental stores in India and to explore as to how it varies across demographics and personal consumer factors. Scale developed by Omar and Musa (2011) has been adapted to measure perceived LPSQual. The target respondents for this study are people residing in Delhi who have been approached to obtain the required data through structured questionnaire. A usable response of 741 respondents has been acquired. Data have been analyzed through Descriptive statistics, Confirmatory factor analysis (CFA) and regression analysis using SPSS 19.0 and AMOS 19.0. The findings of the present study reveal that LPSQual is a three dimensional model as opposed to seven dimensions of LPSQual proposed by Omar and Musa (2011). In addition to this, the present study sheds light on demographic and personal variables affecting perceptions of customers regarding LPSQual. Some important observations have also been made about findings of interaction analysis which throw light on the role of important predictors in influencing perceived LPSQual.
Keywords: Loyalty programs; Loyalty program service quality (LPSQual); Departmental stores.
Learning Organisation and Organisational Commitment: Evidence in the Vietnamese Banking Sector.
by Que Thi Nguyet Nguyen, Quan Ha Minh Tran
Abstract: Despite the vast literature on the relationship between learning organisation and firm performance, very little is known about the extent to which learning organisation contributes to organisational commitment, particularly in the context of transitional economies such as Vietnam. Our study aims to fill out this research gap by shedding new insights about the relative importance of individual dimensions of learning organisation in affecting organisational commitment in the Vietnamese banking sector. We find that all dimensions of learning organisation except inquiry and dialogue, which include continuous learning, inquiry and dialogue, team learning and collaboration, empowerment, embedded system, system connection, and strategic leadership for learning are the key drivers of organisational commitment. Interestingly, at the organisational level of learning embedded systems, system connection, and strategic leadership are likely stronger drivers of organisational commitment than that of empowerment. Comparisons across all levels of learning suggest that strategic leadership is more important than team learning and collaboration, which is in turn relatively stronger than empowerment, while embedded system is better than continuous learning in contributing to organisational commitment. We discuss the implications for theory and practice, and suggest directions for future research.
Keywords: Learning Organisation Dimensions; Organisational Commitment; Transitional Economies; Vietnam.
Frontier production functions, technical efficiency and panel data: with application to tea gardens in India
by SHRABANTI MAITY, Krishna Singh
Abstract: AbstractrnrnThe paper attempts to analyse the efficiency of tea gardens across Assam and West Bengal of India for the period of 2004-2013. The stochastic frontier approach has been applied to estimate the efficiency of large, medium and small tea gardens. Estimated results reveal that the proper training of the labourer, utilisation of the available land and modernisation of the machinery may increase the output of the tea gardens. The study concludes that there is intra-state, as well as inter-state variation in the efficiency of the tea gardens over time and no concrete relation, is found between garden size and efficiency.rn
Keywords: Stochastic Production Frontier; Technical Efficiency; Tea Gardens; Panel Data; Time-Varying Random Effects Model.
Pro-environmental Behaviour of Healthcare Professionals: A study Applying Theory of Planned Behaviour
by Sunu Widianto, Angga P. Kautsar, Sri Widodo, Rizky Abdulah, Rakhma Ramadhina
Abstract: The theory of planned behaviour has widely been used to make prediction about intention and behavior for technology adoption and medication therapy. However, it lacks of investigation to predict green behavior of healthcare professionals. Accordingly, this cross-sectional study is conducted to predict healthcare professional community towards green behavior in public hospitals in Karawang, Indonesia. With the assistance of the hospitals human resource divisions, data are collected from 157 healthcare professionals, consisting of pharmacists, nurses, and physicians, by means of convenience sampling. Partial least square is used to test the model of TPB. The study finds that 3 (three) TPB, namely attitude, subjective norm, and perceived behavioural control, are the significant predictors of intention of the healthcare professionals towards green behaviours in their work setting.
Keywords: Theory of Planned behaviour; pro-environmental behaviour; healthcare professional.
A Framework for Selection of Global In- house Centres Outsourcing Destinations in India
by Amit Mittal, Pawan Chand, Aditya Rahul
Abstract: AbstractrnPurpose The purpose of this paper is to examine the relative competitiveness of major Indian information technology hubs Bangalore, Hyderabad and Pune. The comparison is based on key factors namely: manpower, technology, social, hedonistic, industrial site, economic and governmental factor in the selection of Global In- house Centres for information technology and information technology enabled services (GIC (IT/ITES) outsourcing destinations in India.rnDesign/methodology/approach The research study is based on a descriptive research design and purposively surveyed three hundred eighty seven employees from GICs (IT/ITES) in India. Data was collected by administering a structured questionnaire and analyzed using structure equation modeling.rnFindings - The findings of the study which are drawn from a comparison among Bangalore, Hyderabad and Pune indicate that Bangalore is still the highest rated destination followed by Hyderabad at second place and Pune at third position in the selection of the most preferred location for GICs (IT/ITES) in India. rnPractical implications The findings can potentially assist domestic and international investors investing in India not only in the IT sector but also in other businesses including other services and manufacturing. The findings shall assist investors in understanding major Indian cities and the environment in which they exist. The study highlights the comparative rating of each of the identified city with respect to the other on the basis of select parameters. rnOriginality/value The study shall provide an in-depth analyses of the various parameters on the basis of which existing popular tech cities in India may be rated especially in the context of GICs (IT/ITES). rnKeywords - GICs-Global In- house Centres, (IT/ITES)- Information Technology and Information Technology Enabled Service, Indian IT Hubs, Structural Equation Modeling (SEM)rnPaper type - Research paper.rnrnrnrn
Keywords: GICs-Global In- house Centres IT/ITES- Information Technology and Information Technology Enabled Service.
Global High-Value Luxury Brands Manufactured Domestically: Customer Beliefs and Attitudes in Low-Income Emerging Economies
by Kim Anne Menezes, Suku Bhaskaran, Guljemal Durdyeva
Abstract: Faced with market saturation in developed countries, high-value luxury brand manufacturers are aggressively targeting populous emerging economies. Market development in these low incomes countries has been slow. Local production could reduce costs, improve price competitiveness and accelerate market development. However, customer proclivity to associate quality with a countrys level of economic and technological advancement, symbolism associated with consuming imported brands and ethnocentric beliefs could constrain market development. Using car purchases by affluent customers in India as a surrogate indicator, this study analyses customer beliefs and attitudes towards high value luxury brand purchases manufactured domestically. The results reveal that customers are influenced by country-of-brand origin rather than country-of-manufacture or country-of-assembly and do not have ethnocentric beliefs and attitudes. Consequently, high value developed country luxury brands can be manufactured and successfully marketed in low-income countries such as India.
Keywords: luxury brands; customer beliefs; customer attitudes; market opportunities; low-income country; product choice; emerging economy; India.
Work-life Balance Coping Strategies of Self-Employed Women: The Case of Nursing Homes Owners in northern Cyprus
by Senay Sahil Ertan, Gozde Inal Cavlan
Abstract: The purpose of this paper is to explore the work-life balance (WLB) coping strategies of self-employed women in nursing home businesses in northern Cyprus. A phenomenological qualitative approach to research is adopted and semi-structured face to face interviews are conducted with five women business owners of privately owned nursing homes. Three main themes emerged from the data analysis; Extending family with aged care employees and elderly people; prioritization versus let it go strategy ;and setting up a business to achieve flexibility to manage work-life. The present study is the first to examine WLB coping strategies of women business owners in the nursing home sector in northern Cyprus context. The study provides valuable contributions to work-family literature on the variety of strategies women used to achieve work-life balance in nursing homes by highlighting the contextual factors.
Keywords: women business owners; northern Cyprus nursing homes; work-life balance coping strategies.
International Faculty Job Satisfaction and Engagement: A Study of a Midwestern University in USA
by Sheena Choi, Ae-Sook Kim, Joseph Khamalah, Prasad Bingi
Abstract: This paper investigates perceptual differences between international faculty and their US-born counterparts in job satisfaction, engagement with peers and administrators in teaching, research, and service, and their perception of administrations support. While international faculty felt equally committed to their job, they were less satisfied with their current position, less likely to feel valued by colleagues and less likely to agree that they had a good working relationship with their colleagues. They also felt they were the least supported group on campus even when controlling for race and gender. The studys focus was one comprehensive regional institution. Given that job satisfaction is related to motivation, productivity, and commitment to the organisation, the findings of this study point to the need for the institution to include an international component in its diversity efforts.
Keywords: cultural capital; diversity; engagement; higher education; international faculty; job satisfaction; social capital; social identity.
Limitations of immigrant entrepreneurship research
by Aissa Mosbah, Kalsom Binti Abd Wahab
Abstract: Immigrant entrepreneurship research has, so far, addressed various topics and contributed to the advancement of the overall understanding associated with the entrepreneurial behaviour of immigrants. However, research on this field incorporates several limitations. Based on narrative review of the relevant literature, five limitations associated with immigrant entrepreneurship research were identified: 1) geographical bias (research concentration in a few OECD countries particularly the United States), 2) ethnic limitations (research focus on certain ethnic groups), 3) conceptual misspecification (definitional boundaries have not been properly set), 4) thematic bias (research focus on business antecedents than on business outcomes), and 5) methodological bias (dominance of quantitative research and small sampling). Necessary implications have as well been illustrated in this paper. Future researchers need to address these limitations or, at least, avoid replicating them to strengthen the research outputs.
Keywords: research; limitation; bias; shortcoming; immigrant; ethnic; business; entrepreneurship.
Impact of Microfinance Institutions on Women Empowerment- A qualitative study in Indian Rural Context
by Richa Das
Abstract: Feminization of poverty can be attributed to lack of economic opportunities and access to economic resources like credit for the women. An important part of development is empowering women economically and Microfinance Institutions are rising as an important measure for the same. The present study tries to examine the impact of MFIs on women empowerment. Semi structured depth interviews were conducted to collect data. Data analysis is done using Grounded Theory Method. The study findings suggest that access to credit have significant impact on five different aspects of womens empowerment. The study highlights MFI has a positive impact on employment generating activating, income, savings and living standard. MFI guided an improvement in decision making, self-confidence, social attitude and political participation among women borrowers.
Keywords: Women Empowerment; Microfinance Institutions; Poverty; Grounded Theory Method.
REVIEW OF INDIA'S CRUDE OIL PRODUCTION HISTORY AND ITS PEAK OIL PERIOD ESTIMATION USING HUBBERTS THEORY AND A TECHNIQUE BASED ON STATISTICAL ANALYSIS
by Jatin Agarwal, Meet Shah
Abstract: The paper focuses on peak oil period estimation of one of the fastest growing economies of the world, India. Complete information of Independent Indias conventional crude oil production history (1950-2016) was gathered along with the seven major factors influencing its production namely crude oil consumption, crude oil import, crude oil export, crude oil reserve, rig count, Brent & Gross Domestic Product. Pearson correlation, factor analysis and cluster tree analysis were conducted on the seven mentioned parameters. Furthermore, Hubberts theory along with a novel technique based on non-linear regression was utilised to estimate and predict the peak time of Crude oil production of India. The developed statistical model indicates that the peak oil time for conventional crude of India has already occurred in 2012 and the estimation of peak oil time of India to occur in 2018 from Hubberts theory might be an over estimate.
Keywords: Hubbert’s Peak Oil Theory; Indian Crude Oil Production; Peak Oil Estimation.
A Critical Analyses of Walmarts Expansion into Three Asian Countries
by DEEPAK HALAN
Abstract: The paper aspires to review Walmart's experiences in three South East Asian countries i.e. Japan, China, and South Korea and analyse the reasons for not achieving success in them. This would help managers of retail firms, understand the pitfalls in these countries in their internationalisation journey.
The content analyses of the literature review yielded several insights related to factors behind Walmart's failure in these three countries. These were further categorised as Normative, Cognitive and Regulative and also sub-categorised further basis an adapted Institutional theory model. It was found that the Normative related factors were about seven times the number of Cognitive or Regulative related factors that explained the failure. This paper reveals several aspects which other retailers need to keep in mind while planning and formulating strategies for globalization and growth.
Keywords: Walmart; international; retail; strategy; failure; Japan; China; South Korea; regulative; cognitive; normative.
Factors Affecting the Level of Happiness Through Economics Status: Evidences from Elderly in the Northeastern Region of Thailand
by Jongrak Hong-ngam
Abstract: Happiness is the term that carries different meanings according to the perspectives of individuals. Moreover, the need of happiness differs for each age range. This study focuses on the level of happiness arising from the economic status of the elderly. It has placed emphasis on the elderly because the predictions of the National Elderly Committee for the population structure in the next 20 years indicate that a rise in the ratio of the elderly will increase from 17.5 % in 2020 to 25.12 % in 2030. The rapid change in the structure has triggered an awareness of the degrees of Happiness in this major population, especially stemming from their economic status. This issue
has aroused interest in the factors that can affect the target groups economically-related
Happiness, so the researchers have conducted a sample survey in the population of those over 60 years old in 2 Northeastern provinces of Thailand. The factors included the following assumptions of the study: income, human capital, physical capital, and accessibility to economic capital, etc. The overall findings revealed that saving money, having accessibility to economic capital, having self-esteem, maintaining relationships with family members and neighbors, and sustaining a way of life are the main factors that affect the happiness of the elderly
Keywords: Elderly Happiness Economic Human Capital Self-Esteem.
Modeling the Motivations of Millennials Online Shopping Intentions: A PLS-SEM Approach
by SAHIL GUPTA, Arun Aggarwal, Amit Mittal
Abstract: With the enhancement in the digitalisation and betterment of IT infrastructure, the millennials are using the power of the internet to shop things online. As the competition in online space is increasing among various e-sellers and acceptance of concept online shopping is rising among Indian consumers, it has led to the study of new dimensions among the researchers that what motivates the new generation to shop online? The acceptance of new technology, various extrinsic and intrinsic factors influence the use of the internet for shopping. Various benefits drawn from online shopping attracts customers on this new platform. On the basis of focused interview and literature review of previous research, we have developed our own model of consumers intention to buy online. The measurement of these motivations is done by using a multivariate method by Partial Least Square method involving empirical data. Results of the confirmatory factor analysis revealed that there are eight shopping motives that affect the individuals intention to buy a product through an online portal. Results of the path analysis showed that the most important factor that affects buying intention was social shopping followed by perceived hedonic shopping, brand loyal, role-playing, novelty seeking and high quality respectively. However, there was no impact of value shopping and utilitarian shopping on an individuals intention to buy online. The major contribution of this paper is the inclusion of new factors such as novelty seeking and social shopping that affect online buying behavior.
Keywords: Millennials; Online Shopping Intentions; Shopping Motives; PLS-SEM.
NETWORKING ENDEAVOURS AND ENTREPRENEURIAL SUCCESS: A CASE STUDY OF FEMALE ENTREPRENEURS IN PAKISTAN
by Rizwan Tahir, John Ireland, Mashal Waqar
Abstract: Despite the acknowledged benefits of networking for entrepreneurs and the interest in women entrepreneurship especially in developing countries, there has not been many studies on the networking activities of Pakistani women entrepreneurs. This study obtained and analysed rich data from 20 depth interviews with Pakistani women entrepreneurs about the networking activities at several phases of the business life cycle. The results demonstrate that initially Pakistani women join informal networks consisting of family and friends, but after sometimes when their businesses become mature then they are more inclined to join strategic and valuable quality networks and will include any person in their networks who could be tapped for guidance, insights or know-how, irrespective of their gender. It is hoped that the results of this study may also be used to structure government interventions that create, and improve the quality of women entrepreneurs networking endeavours.rnrn
Keywords: Female entrepreneurs; entrepreneurial networking endeavours; entrepreneurial start-up firms; gender; Pakistanrn.
Co-Creation Framework in Cluster Industry with Limited Resources
by Dina Dellyana, Bayuningrat Hardjakaprabon
Abstract: An industrial cluster is beneficial in developing a regional economy, and since the need for co-creation among cluster members is notable, a suitable co-creation framework is thus required to encourage performance of clusters. This conceptual paper analyses a milk industry cluster with limited resources in Bandung that manages co-creation practices. Its main objective is to construct a co-creation framework that can be adopted by other industry clusters with limited resources. The research is a case study research that utilizes interviews and focus group discussion as primary sources of data. Important findings from the research include problems map from stakeholders in the cluster and two forms of co-creation framework: (1) internal: between cluster members and (2) external: between cluster members and consumers. Those findings generate a co-creation framework with the involvement of cooperative as organizer of the framework that is ideal for industry cluster with limited resources.
Keywords: Co-creation;cluster;business model;entrepreneurship;milk industry;indonesia.
Factors Affecting the Export of Condoms from Thailand to the USA using Simultaneous Equations with the GMM Method
by Sakkarin Nonthapot
Abstract: The objectives of this research are to investigate 1) the factors affecting the quantity demand for condom imports and 2) the quantity supply of condom exports from Thailand to the USA. This research employs quarterly data from 2001:Q1 to 2018:Q2. The analysis employs a simultaneous equation system and is estimated by the Generalize Method of Moments (GMM) method. The results reveal that 1) the import condom price of India and Gross National Product are positive and negative effects on the quantity demand of condom exports from Thailand to the USA, respectively while the import condom price of India is insignificant 2) the latex rubber price, the wages of non agricultural workers, and the exchange rate (Baht/USD) are negative effects on the quantity supply of condom exports from Thailand to the USA. These can bring about the differentiation of condoms to maintain the level of condom imports in the USA market.
Keywords: Condom; Imports; Simultaneous Equation; GMM.
Delivering Holistic Education for Contemporary Times: Banasthali Vidyapith and Gurukula System
by Sharda Nandram, Ankur Joshi, Sukhada Sukhada, Vishwanath Dhital
Abstract: This paper presents a case of an Indian university, Banasthali Vidyapith, for proposing lessons for holistic education for the discipline of management. This case is being compared with the ancient Indigenous education system of the Gurukul. The research design is qualitative in nature, using the in-depth interviews, observations and ethnographic participation of authors in both systems and interpretive thematic analyses. By addressing such a question the authors argue how management education can prepare the student for responsible citizenship when they enter society, which is one of the aims of liberal arts colleges in modern education systems. Another question is how can students nurture an integrative mindset of problem solving by allowing life-skills development that taps into the physical, mental, aesthetic, moral and intellectual dimensions of the student? The fivefold holistic education at Banasthali addresses such development and has features which could be interesting for management education globally.
Keywords: Holistic education; Gurukula; Ancient education; Globalisation and Management; Banasthali Vidyapith.
A Globalisation Model Analysis on Unauthorised Immigration's Impact on the United States of America
by Jorge Riveras, Alex Beaton, Jesus Arteaga Ortiz
Abstract: The issue of unauthorised immigrants residing in the United States of America (U.S.) is currently a very profound and polarising topic. It has proven to be rooted in biases and divisive among the two main political parties in the U.S. The divergence of the U.S. from Globalisation has created strong contentious opinions about immigration as a byproduct. This paper employs a Globalisation model as the framework to study unauthorised immigration from a multidimensional point of view. This model creates a structured lens for the analysis by looking into multiple domains. These consist of factors related to economic, political, social, business and physical, while the outer domains consist of the factors concerning neighbouring country dynamics, trade blocs, and global institutions. After thoroughly researching these domains and unearthing the historical data related to these factors, this paper presents how unauthorised immigrants from Mexico and its satellite nations have impacted the U.S. overall.
Keywords: globalisation; unauthorised immigrants; economic integration; systems theory; globalisation model framework; NAFTA.
An Undercapitalized Billionaire
by Ivan Light
Abstract: Undercapitalized conventionally refers to firms at risk of failure because owners lack requisite human and financial capital. Are firms undercapitalized when owners lack social and cultural capital? Answering the question directs attention to owners who, abundantly equipped with human and financial capital, fail in business anyway. When we have ruled out adventitious causes, such as business cycle, technology change, even luck, we are left with incompetence to cover all such failures. However, incompetence is a label, not an explanation. To illustrate the distinction, this paper introduces a case study of Donald Trumps much-studied career in independent business. Deficits of social and cultural capital explain Trumps repeated bankruptcies and meager lifetime earnings.
Keywords: forms of capital; social capital; cultural capital; undercapitalization; business failure; Donald Trump; bankruptcy; narcissism; paranoia.
The Influence of Selected Factors on Online Shopping Behaviour: A Study With Respect to Kottayam District
by Neethu Ann Georgie
Abstract: Consumer behaviour and attitude place a key role in determining the success or failure of any business and hence the former is capable of predicting the future trends of any business. The firms try to make use of varied strategies so as to attract consumers and the latters behaviour varies with respect to these strategies. The case is not different with respect to online shopping, the phenomenon that gained popularity due to IT revolution. Online shopping uses internet as the medium for buying goods and services and the consumers have varied thoughts and intuitions with respect to this medium. As a single factor can create different responses among consumers, it always has been an area of interest for marketers as well as researchers. The current study aims in analysing the sway of selected factors like socio-demographic factors, convenience, delivery of product, return policy and ease of using debit/credit card information with respect to the dependent variable, consumers behaviour towards online shopping and correlation using spss is used to evaluate the influence. The cram conducted shows that convenience act as a motivating factor whereas fear for loss of money, non delivery and improper return policy have depressing effect on online shopping behaviour. Among the socio-demographic factors, age is capable of influencing online shopping behaviour whereas gender and educational qualification are unable to do so. rnrn
Keywords: Online shopping; Consumer behaviour; Socio-demographic factors; Non delivery; Return policy; Convenience.
Enhancing domestic savings mobilisation in Ghana: Does religion matter?
by SAMUEL TAWIAH BAIDOO, Linda Akoto, Makafui M. Tayviah
Abstract: Domestic savings in many developing countries including Ghana remain low and has therefore attracted policy discourse and attention of researchers globally. Several determinants regarding saving decisions among individuals have been revealed. However, the role of religion has not been emphasised especially in sub-Saharan Africa region even though religion is asserted to have influence on economic outcomes. This paper revisits saving determinants in Ghana with focus on religion. The study uses primary data and employs the probit regression for analysis. It is revealed that the effect of religion on saving is positive but statistically insignificant. However, financial literacy, employment status, education and income have significant effect on saving. Based on these findings, relevant policy implications have been suggested in order to avert the low savings mobilisation in Ghana.
Keywords: domestic savings; economic growth; religion; probit regression; Ghana.
The Extent of Use of Social Media Networks by the Female Entrepreneurs in Jordan: Empirical Study
by Rand Al-Dmour
Abstract: This study sets out to determine the degree to which female entrepreneurs in Jordan use social media networking platforms to grow their businesses, and the extent to which social media drives success. The data was gathered from 112 female Jordanian entrepreneurs, who filled in self-administered questionnaires. The results showed that 74 per cent of respondents used social media network platforms, and that there is a relationship between the entrepreneurs' education levels and their use of social media. In addition, the results suggested that 47 per cent of the variation in the entrepreneurs' levels of success could be linked to their use of social media networks. Finally, the study found that email; WhatsApp and Facebook were most closely related to success, when examining Jordanian female entrepreneurs' businesses
Keywords: Female entrepreneurs; social media networks and Jordan.
Entrepreneurship Activities to develop Socioeconomic Status of Self-help Groups (SHGs) in the Bhiwani District of Haryana
by Pratibha ., Sanjay Bhayana, Neeraj ..
Abstract: The main objectives of SHGs are to achieving rural development through performing entrepreneurship activities in India. SHGs play an important role in the social revolution and economic improvement for the prosperity of rural womens. The present study investigated to measure the empowerment of womens and changing in their living standards after joining the Self-help Group and their positive impact on the socioeconomic profile. The present study was conducted for self-help groups working under National Rural Livelihood Missions (NRLM) and Haryana State Rural Livelihood Missions (HSRLM) in the Bhiwani district of Haryana (India). The quantitative research study is based on the primary data. In this study, various types of methods were used for the collection of data such as Surveys, Questionnaire, and Personal Interviews. The sample size of this study was 160 respondents from 40 Self-help Groups, which formed during 2013-2017. The purposive sampling technique was used for the selection of Self-help Group. The research data was statically analysed by using statistical tools, i.e. IBM SPSS 20.0 software and MS Excel. The result was concluded the entrepreneurship activities have played an important role in the development of rural women lifestyle as well as socio-economic status in society.
Keywords: Self-help Groups; Socio-economic; Entrepreneurship Activities; Rural Development; Women-empowerment.
A Comparative Study of Men and Women Entrepreneurship- with Special Reference to T20 Cricket Premier Leagues Worldwide
by Pooja Sharma, Deepika Kapoor
Abstract: Entrepreneurship lies more in the ability to minimise the cost of the factors of production and to explore them to maximum advantage. Therefore, entrepreneurs tend to be more creative and innovative than the average person. The present study is an attempt to analyse the performance of T20 cricket teams worldwide under the leadership of men entrepreneur and women entrepreneur. The sample size of the study consisted of total 17 teams out of top five T20 cricket premier leagues worldwide. Further, independent sample T-test was applied to compare the performance of the teams. It was found that there is no significant difference in the mean scores of teams under the leadership of male entrepreneurs and female entrepreneurs. The performance of the male entrepreneurs team is almost similar to the performance of female entrepreneurs team.
Keywords: Men and Women Entrepreneurship; Twenty20 cricket premier leagues.
Examining Indian Working Professionals Perspective of taking a MOOC: Identifying the Motives and Perceived Effectiveness
by Deepika Jhamb, Amit Mittal, Pawan Chand
Abstract: Purpose In India, as in other parts of the world, the competitive environment is tightening and working professionals are looking at radical approaches to stay abreast with developments in their respective domain. Working professionals display a great affinity towards modern e-learning platforms to educate themselves and develop better understanding on areas of interest based on their work profiles, career progression and other aspirations. Amongst various e-learning platforms, MOOCs (Massive Open Online Courses) have attracted a greater percentage of working professionals across the globe, including India which is considered to be amongst the fastest growing markets form MOOCs worldwide. In spite of the large practitioner-driven market for MOOCs and its existence for such a long time, a majority of the studies focus on MOOCs from a purely academic standpoint. Additionally, India-centric studies are very few. This study seeks to contribute to the existing body of research by seeking to explore the motives and perceived effectiveness of MOOCs amongst working professionals working in the Indian information technology sector. Design/methodology/approach A mixed-method approach is followed to reveal the dimensions of motives and effectiveness while pursuing MOOCs. Data were collected using self-administered survey questionnaire from 352 working professional working with information technology sector at Bengaluru, India. The collected data were analyzed using SPSS 21.0 and AMOS 20.0. Findings The results of the study indicate that job enrichment and competition are the important motives for working professionals to pursue MOOCs because these motives work as a skill building platform for them. On the other side, organizational recognition and learning discipline have emerged as the most important factors that lead to overall MOOCs perceived effectiveness. Practical Implications MOOCs providers have golden opportunity to monetize their courses by partnering with premier universities and institutions and create a unique demand for MOOCs. Originality/value The study establishes the role of MOOCs in the enhancement of executive skill development.
Keywords: E-learning; MOOCs; Working Professionals; Motives; Perceived Effectiveness.
DETERMINANTS OF E- BANKING ADOPTION FROM CUSTOMERS PERSPECTIVE: AN EMPIRICAL STUDY
by Sandeep Singh
Abstract: Being a service industry, banking sector generates and distributes services for the realisation of consumers economic needs. In the present era of vicious competition, wherever an enormous alternative is accessible to the patrons, each banking organisation has an onus to magnetize the new patrons and retaining the existing ones, by providing them with innovative and classy services. The study validated the factors of internet adoption from a customer's perspective. The sample of the investigation was 391 bank customers. On the basis of previous literature and expert advice, a questionnaire was designed. Finally, seven factors were confirmed. The research has validated a scale for future research.
Keywords: banking industry; digitalisation; globalisation; internet banking; emerging economy; service; operation; convenience; loyalty; dilemma; security; skill.
Cointegration and causality testing for Capital Productivity, Labour Cost and Export Competitiveness of Indian textile industry
by Rahul Dhiman
Abstract: The purpose of this paper is to examine the relationship between export competitiveness (EC), capital productivity (CP) and unit labour cost (ULC) for the Indian textile industry in the post-reform period i.e. from 1991 to 2017. The present study uses Johansen and Juselius test for examining cointegration between select variables and reveals the long-run relationship between the select variables. The study uses Granger causality test to explain the direction of causation between the select variables and results reveal the absence of feedback effects among the variables and only unidirectional causality is found from CP and ULC to EC. The results of the vector error correction model (VECM) reveals absence of long-run and presence of short-run causality running from CP and ULC to EC. The findings of the study will encourage the various textile firms to ensure technological upgradation; this will further motivate them to achieve the desired level of CP and hence achieve EC. The firms are also suggested to minimize the labour costs to gain competitiveness in the world markets.
Keywords: Capital productivity; Co-integration and Granger Causality; Export Competitiveness; Textile industry; Unit Labour Cost.
Sustainability of Micro, Small and Medium Enterprise Policies in Nigeria
by Mohammed Shettima
Abstract: It is a clear fact that the MSMEs contribute tremendously to the growth and development of every nation and Nigeria is not an exception. Almost all countries assist its MSMEs to a large extent and this assistance usually comes in the form of facilities and supportive services rather than on protection and subsidies. This paper seeks to review and identify policies and schemes designed to ensure the sustainability of MSMEs in Nigeria. The secondary method of data collection will be utilised and coefficient of variation statistical tool will be used to compare the variability of the series of data. Findings in the study revealed that awareness of government policies is more consistent and stable than the non awareness level across MSME sectors in the country. Government to that effect should ensure effective implementation of the designed policies and schemes as it will produce a robust framework that will ensure the sustainability of MSMEs in Nigeria.
Keywords: Enterprises; Micro,Small and Medium; MSMEs; Nigeria; SMEDAN; Sustainability; Policies,.
Traditional Jebena*coffee and women livelihood; Ambo town in focus
by Daniel Tadesse Tulu
Abstract: Coffee is a green gold plant grown and said to be found in Ethiopia. It has a significant contribution in Ethiopian economy by having a lion share in export industry which implies contribution to Economic growth. In addition coffee has a good power in creating, building and strengthening social relationship between individuals and neighbors. This paper primarily finds out the contribution of traditional Ethiopian coffee (Jebena coffee) to the change in livelihood of family in general and women in particular in Ambo town. For this purpose women who sit on the corner of the main road and inside the town are taken arbitrarily. The study uses convenience sampling and accordingly 104 women have taken as a sample. Simple linear regression is employed to find out the relationship between livelihood of women and Jebena coffee business. The result of the study shows that trading Jebena coffee has a positive impact on improving housing, health, income, education and boosting bargaining power of women. It is recommended that the concerned government and non-government bodies have to organize women engaging in small businesses in a better way so that return from the business is improved and women and family livelihood is supported for better living standard.
Keywords: Jebena ; Coffee; Oromia; livelihood; Ambo; bargaining power.
A study on Organisational Image, Indirect Compensation and Job Satisfaction in Indian IT Industry
by Sonali Singh, Richa Misra, Swati Bhatia
Abstract: IT industry in India is one of the most promising industry in terms of human resource and earning revenue overseas. India is the world's biggest source, as far as Information Technology industry is concerned. It represents around 67% of the US$ 124-130 billion market. (IT &ITES Industry in India,2017). Recently IT industry has faced a major turmoil, as United States of America one of the major Job provider for IT workforce has restriction on VISA policy. This has restricted the outsourcing of Indian IT professional in USA. India has also observed a significant leap in the start-ups that has created job opportunity and self-employment for young technical (Dana, 2014). The IT industry also viewed a high turnover rate (business.linkedin.com) Some of the reasons identified in the previous researches for attrition, were job satisfaction, image of the organization, job security, poor relationship with management and better compensation options. The mantra for success in todays competitive environment for an organization is they must retain its employees Retaining employees includes proposing modest compensation (including both direct and indirect) which will inspire employees and motivate them to perform as per the expectation of the organisation. The study is descriptive in nature, which is basically considered to understand the relationship between variable compensation, brand image and job satisfaction with respect to the Indian IT sector.
Keywords: IT Industry; Company Image; Indirect Compensation; Job Satisfaction;India.
A Study of Selective Macroeconomic Determinants Affecting Remittances to India from USA and GCC Countries
by Amit Banerji, Anand Chandravanshi
Abstract: This study attempts to examine long run and short run dependence of personal transfers to India from macroeconomic conditions at host countries of Indian emigrants and Indian macroeconomic conditions. Remittances to India seem to be affected by macroeconomic conditions prevailing in United States of America (USA), Gulf Cooperation Council (GCC) and India. Vector Error Correction Model (VECM) is applied to study the relationship between the Remittances received in India and macroeconomic variables of countries involved in study. Yearly data from 1980 to 2016 of GDP, unemployment rate of GCC, USA and remittances received in India are used. Results from estimates suggest unidirectional causality from GDP growth of GCC and USA towards remittances to India. Unemployment rates in India and GCC are also found affecting the remittances to India.
Keywords: Remittances; Emigration; VECM; Impulse Response Function; GDP; Unemployment Rate.
An Overview of Fijis Retail Franchising Climate
by Samantha Naidu, Gurmeet Singh, Jashwini Narayan
Abstract: The paper examines the retail franchising climate in Fiji, a small Island country of South Pacific Region This paper in particular discusses the various arrangements in which franchises operate in Fiji and will set the scene for Fijis retail franchise system. There is a lot of potential for franchises to prosper in Fiji if they do it right. Fiji is a growing market with opportunities that many businesses can take advantage of and exploit. The present government has also made positive changes to some of its laws so that businesses can operate better. This study has found that despite the Fiji government encourages the growth of franchise industry, there is absence of an entity or a franchise association that could collect, store and maintain proper records of franchise industry in Fiji
Keywords: Retail Franchising; Traditional and business format franchising; Multi unit franchising; retail; Fiji.
Corporate governance and its effects on perceived performance in Morocco: The mediating role of venture capitalists' strategic and managerial involvement
by Slimane Ed-Dafali, Brahim Bouzahir, Amina Omrane
Abstract: The current research investigates the effects of the governance relationship between capital-investors and entrepreneurs of financed companies on their perceived performance. For this purpose, two variables related to trust and frequency interaction are taken into consideration. Besides, the mediating role of venture capitalists'(hereafter VCs')strategic and managerial involvment is assessed.
The conceptual proposed model is tested in the Moroccan context, via the structural equations method under the approach of partial least squares regression (PLS). Results indicate that interaction frequency and trust between stakeholders enhance the performance of the venture capital (hereafter VC)-backed firms. Moreover, interaction frequency and trust are significantly related to the managerial and strategic roles of venture capital firms. Findings highlight also the importance of these strategic roles in improving business performance. However, they do not reveal a direct relationship between managerial VCs roles and the perceived performance of porfolio companies.
Keywords: Key words: Corporate governance; Frequency interaction; Trust; VCs’ (Venture capitalists’) involvement; Perceived performance; VC (Venture capital)-backed firms.
The Implementation of Integrated Marketing Communication On Retail Business: Moslem Consumers Perceptions
by Harmon Chaniago, Yen Efawati
Abstract: Some studies on Integrated Marketing Communication have been done by researchers in large firms and SMEs. However, there have been only a few researchers who have concern on IMC, specifically on retail business. The purpose of this paper is to investigate the effect of IMC on retail business based on perception of Moslem consumers. The research used explanatory survey method with exploratory analysis. Total sample involved were 189 respondents and snowball sampling was used as sampling technique. The findings show that there were five determinants of IMC success from Moslem consumers perception: communication programme, advertisement, reinforced notions of consistency, goods price and product completeness. It has been proved that IMC's success in retail business was determined in the design and implementation processes, which should be in accordance with the most religion of the consumers. IMC implementation for Moslem consumers requires the application of sharia principles such as: benefit, honesty, openness, friendship and mutual assistance in doing business.
Keywords: IMC; retail business; beneficial; honesty; openness; helping each other.
The Impact of Customers Training of Digital Banking Services on its acceptability by customers in India
by Nitin Bansal, Nishtha Pareek, Abhinav Nigam
Abstract: Training programme to customers is a highly crucial component whilst enhancing the effectiveness and efficiency of the customers to adopt a new technology or upgrade the existing one. This study has focused on the analysis of impact of training programme of digital banking services to customers on the acceptability of digital banking services by customers in India. This study has administered the factor analysis to analyse the applicability and reliability of scale i.e. training programme of digital banking services to customers, before the stepwise method (forward selection) of multiple linear regression was used. Primary data on 5 point Likert scale has collected from the Delhi region with the help of questionnaires through a self administered approach. Stratified sampling technique was used and total 402 useful schedules were considered for analysis of data using SPSS version 23. The results of the study show that there is a positive impact of training programme to customers on the usability and acceptance of digital banking services by the customers which leads to the reduction in the banking cost of the customers.
Keywords: Digital Banking Services; Training to customers; Customer’s acceptability; Risk; Trust; Cost reduction; Frequency of training; Internet.
Factors Influencing Employee Engagement towards the Organisation: A Case of Thai University Personnel
by Dusadee Ayuwat, Jongrak Hong-ngam, Wanichcha Narongchai, Supee Samorna, Kriangkrai Pasuta, Krongkaew Kingsawat, Somphot Thinpru, Kwannakorn Sonman, Nattawat Auraiampai
Abstract: This article examine factors that influence employee engagement towards the organisation of Thai University, a case of Khon Kaen University, Thailand. The quantitative approach was used in research design. The sample group consisted of 2,878 staff members of the university. The data was collected using the questionnaire in January to February 2018, and analysed by descriptive statistics and multiple regression. The results demonstrated that job satisfaction, attitudes towards job and organisation significantly influenced organisational engagement at the level of 0.01, whereas the length of employment with the university significantly affected employee engagement at the level of 0.05. However, type of personnel and perception of organisational cultures did not show any significant correlation with employee engagement at the level of 0.05. All the independent variables analysed were able to significantly explain the variation of the universitys employee engagement at 45.7 (R2= 0.457) at the level of 0.01.
Keywords: employee engagement; job satisfaction; attitude toward the job;rnrelationship with colleagues; Thai University.
The illusions of entrepreneurs: the problems in here I stand strategies during the service design processes
by Samuel Ahola, Katja Lindholm, Rauno Rusko
Abstract: Relentlessness is known to be one of the sources of entrepreneurship. A service design case study from Finland shows the problems beyond the relentlessness of entrepreneurship in small and micro enterprises. To be robust, the relentlessness Here I stand strategy also demands selective flexibility. Entrepreneurship school, for example, is based on the entrepreneurs vision and intuition. These visions and intuitions, however, might be part of the illusions of entrepreneurship, where relentlessness is only Here I stand strategy without willingness to take reactive or proactive steps in the firms strategies. The case study, which emphasises service design methods, reveals this kind of entrepreneurial design fixation to be among the main problems entrepreneurs face in strategy work.
Keywords: Service design process; small business; enterprises: entrepreneurs; here I stand -strategy.
Understanding impact of Microcredit on Socio-economic status of Women Micro-entrepreneurs
by Nivedita Tewari Dwivedi, Amit Kumar Dwivedi
Abstract: Microcredit is small ticket loan provided by microfinance institutions for starting enterprise to the poor people. The study is conducted on those women beneficiaries who are the member of Self-help Groups (SHGs) and had taken microcredit and took entrepreneurial ways of livelihood and run a micro enterprise in their localities. The findings of the study conclude that (i). after becoming economically empowered, womens socio-economic status in the society as well as in her family have improved substantially and there is positive change observed in her personality also; (ii). significant number of women micro-preneurs fall in the age group of 31 to 40 participate in decision making regarding family; (iii). the women microcredit beneficiaries contribute too appropriately in their familys income; (iv). women become responsible for microcredit, for repayments, for maintaining saving accounts and after bearing these responsibilities, women gain confidence to take charge of their lives and the lives around them; and (v). microcredit is an empowerment tool for women who take-up entrepreneurial career.
Keywords: Women micro-entrepreneurs; empowerment; microcredit; socio-economic status and Self-help Groups.
Indias Handknotted Carpet Industry in Reforms Era: Export Performances and Challenges
by Amit K. Giri, S.P. Singh
Abstract: This paper analyses the export performances of Indias hand-knotted carpet industry and explores the challenges the industry is facing in the post-reforms era beginning early 1990s. The macroeconomic study shows that despite witnessing many short run economic upheavals from 1990 through 2013, there has been a steady increase in the exports value of hand-knotted carpets from India. Among the major carpet exporting countries, India has been the only country which has witnessed increase in exports value after 1990. But there has been very small increase in exports quantity in the post-reforms period. What ails the industry? Fieldworks undertaken in the carpet weaving cluster of India reveals that this industry is facing acute shortage of weavers especially after 2005; in addition declining governments support, lack of better infrastructural facilities, unsustainable increase in weaving cost and other operational diseconomies has also added to the woes of the carpet exporters. But the most important cause is the acute shortage of weavers. Because of the acute shortage of weavers, the industry lobby has already started labelling this industry as a sunset industry as they feel that this industry would remain in a state of permanent crisis. The paper concludes by suggesting various measures to tackle weavers shortage issue and increase the carpet production and its exports from India.
Keywords: India; hand-knotted carpets; exports; carpet workers; global value chains; child labour.
Factors Influencing Entrepreneurial Intentions of Zimbabweans during Economic Recessions: A Case of Hardware Small Businesses in Harare, Zimbabwe.
by Charles Zhuwau
Abstract: The purpose of this paper is to establish factors that influence entrepreneurship intention (EI) in Zimbabwe during economic crisis. Relationships between these factors and EI were also established. A survey-based methodology was employed in which data were collected using self-administered questionnaires from a sample of 124 hardware Small and Medium Enterprise (SME) owners. Further, the research employed Spearmans Coefficient of Rank Correlation method to test hypotheses. Results indicated that EI in Zimbabwe is influenced by opportunity recognition, job loss, social pressure, sector expected positive potential, perceived easiness to run a business, and resource availability. Perfect positive relationship between EI and these factors was discovered. Therefore, government should consider ways of harnessing these EI factors to enhance new venture creation and reduce unemployment. New knowledge of EI in developing countries and economic downturn periods has been produced.
Keywords: Entrepreneurship Intention; Economic Recession; Developing Countries; Hardware; Small Businesses.
CONQUERING TALENT CHALLENGES The Troikaa Way
by Anuroopa Mahajan, Bhumi Trivedi
Abstract: Talent Management (TM) became a concern for organisations since last two decades when McKinsey consultants created the catchphrase War of Talent (Chambers et al, 1998). Organisations were panic stricken as getting the right talent and retaining them was challenging. This case study explores how an Indian pharmaceutical organisation managed talent to overcome TM challenges. Dr. Ketan Patel CMD, Troikaa Pharmaceuticals Ltd. considered talent as the backbone of a learning organisation to grow. In order to develop a closer understanding of the subject, Qualitative research methodology [refer Exhibit -1 (iv)] was adopted to carryout research study that allowed direct learning from research subject (Dana & Dana, 2005) The findings of the case study reveal well established and learning aligned TM practices institutionalised in Troikaa. TM played a key role in achieving strategic objectives of the organisation. Expert scientists carried out innovation and developed the drugs for which Troikaa holds patent globally.
Key words Talent management, talent acquisition, talent development, talent deployment, talent retention, pharmaceutical industry, India.
Keywords: Talent management; talent acquisition; talent development; talent deployment; talent retention; pharmaceutical industry; India.
Impact of Social Media Conversations on Consumers Online Purchase Intention
by NEHA KATIYAR, Abhinav Tripathi, K.R. Chaturvedi
Abstract: The objective of this paper is to explain how social media has impacted the consumer decision process as heavy use of social media has created a new landscape which lays out a new avenue for personal connections. The paper also explores how individuals are seeking information on social media and how they are processing and selecting the information before making the final purchase. The empirical data for the study has been gathered using a structured questionnaire. The descriptive statistics were performed for the select parameters of the survey instrument. The study indicated that individuals are playing an active role in information search on social media comparing to mass media. The findings confirm that there is significant variance between age, income, occupation, and gender with online purchase intention of consumers. Also, the results confirm that social conversation is a significant predictor of online purchase intentions. The research findings suggest that consumers in India are actively utilizing social media platforms as a key tool in validating their purchase decision. The research also explains various indicators that can be utilized by potential companies to analyze the decision-making process via social media sites.
Keywords: Social Media; Online purchase; Consumer Behaviour; Decision-making process rnrn.
Impact of Demand Side Factors on Adoption of Islamic Finance by SMEs: A Way Forward for Sustainable Financial Markets
by Rabia Rasheed, Sulaman Hafeez Siddiqui
Abstract: Small and Medium Enterprises (SMEs) constitute bulk of Industrial and economic populace around the world. Despite major contributor towards economic growth SMEs are facing various challenges across the world and access to finance is one of the major issue. Therefore, to achieve sustainable/inclusive finance for small and medium business sector both Islamic and conventional financial institutions have to take initiatives and required strategic focus on this segment. This research paper highlights the behavioural factors affecting SMEs owner-managers intentions to adopt Islamic financial products from a consumer behaviour perspective. The research model of this study is based on theory of planned behaviour postulates that SME owner-manager intentions are determined by financial knowledge or literacy, perceived risk, attitude, religious beliefs, subjective norms, self-efficacy and perceived behavioural control. The study uses quantitative (survey and factor analysis) methods. The results revealed that SMEs intention to adopt Islamic financial product is low which shows negative attitude of owner-managers towards Islamic finance in Pakistan. Moreover, the study highlights that financial knowledge has strong impact on owner-managers attitude towards intention to adopt Islamic finance. Furthermore, SMEs owner-managers prefer financial products which are according to Islamic rules and principles, thus, religious beliefs also have strong influence on SMEs owner-manager behaviour. The results imply that achieving sustainable/inclusive finance for SMEs sector requires financial sector firms and policy makers in the area of Islamic finance to work out factors such as religiosity and financial awareness and literacy related to Islamic financial products in order to motivate them towards Islamic financial products for SMEs.
Keywords: Islamic Finance; Access to Finance by SMEs; Sustainable Finance; Pakistan.
Financial Literacy and Its Effect on Financial Decisions of Households in Punjab and Haryana State
by Ravisha Chutani
Abstract: This study attempts to assess the financial literacy level of the respondents, impact of financial literacy level on the respondents financial decision and to study the significant difference between financial literacy level and demographic variables of the respondents in Punjab and Haryana state. Data collection was done through a structured questionnaire which was divided into two parts: first part comprises of demographic variables and second part contains 33 variables affecting financial decision of the respondents. Regression Analysis was performed to measure the significant impact of financial literacy level on financial decision of the respondents and found the statistically significant impact on the financial decision of the respondents. A statistically significant difference was found in the financial literacy level based on respondents age, marital status, educational qualification, area they belong, occupation and monthly income.
Keywords: Demographics; Financial Literacy; Financial Decision; Analysis of Variance (ANOVA); Factor Analysis; Indian Households; Regression Analysis; Haryana; Punjab; India.
THE IMPACT OF E-COMMERCE ON IRANIAN MANUFACTURING SMEs TOTAL FACTOR PRODUCTIVITY
by Sarvenaz Kiani, Elsadig Musa Ahmed
Abstract: The purpose of this paper is to determine the impact of E-commerce (EC) on Total Factor Productivity (TFP) of Iranian manufacturing SMEs through analyzing and calculating interrelated issues. The model is based on both econometrics and growth accounting approach to fill the gaps of previous studies. On the first step, this research fulfills the gap of growth accounting approach by transforming the model to parametric model and providing statistical analysis. And on the second step, it closes the gap of econometric estimation of the Cobb-Douglas production function by calculating productivity indicators. Model has six EC measurements: number of employees using computer, number of employees using internet, using internet to gather and offer information, e-buying and e-selling, and uses two years panel data. According to the results of estimation among the measures of EC two best, most accurate and reliable measures, namely, e-selling and using Internet to offer information, and number of employees using Internet have positive impacts on TFP indicated by highly significant coefficients of EC .So SMEs using Internet for selling electronically, using Internet to offer information and number of employees using Internet have higher TFP in average with significant technological progress experienced by SMEs and EC can raise their TFP.
Keywords: E-commerce; SMEs; TFP; Panel data.
Convergence of Growth Rate of Profitability in Maharatna and Selected Navratna Companies in India
by Krishna Singh, Debasish Sur
Abstract: The present paper attempts to analyse the process of convergence of profitability measured in terms of return on capital employed in Maharatna and selected Navratna central public sector enterprises in India during the period 2002 to 2014. While analysing the absolute and conditional beta convergence as well as modified sigma convergence, fixed effect regression model was used. The net outcome derived from the analysis of the absolute and conditional beta convergence indicates a significant convergence with respect to overall profitability in both the Maharatna and Navratna companies. The modified sigma convergence reflects that the differences in achievements of return on capital employed in different companies within the group stepped up over time. The study also reveals that the central public sector enterprises with lower initial earning capability grew faster as compared to the companies with higher initial overall profitability.
Keywords: Profitability; Convergence; ROCE; Maharatna and Navratna companies.
The Future of Education: A Disruptive Framework that bridges Policies and Quality Education
by Stephen Oluwatobi, Adedeji Afolabi, Patience Tunji-Olayeni, Afolashade Oluwatobi, Onyeka Emebo
Abstract: The world as we used to know it, is not on the same level again. Consequently, the level and type of education dished out to students need to be reviewed from time to time. The level of innovation and skill required in industries need to be disruptive to serve the students of the future. The study examined the future of education using disruptive frameworks that bridges policies and quality education. The study utilized an in-depth content analysis of existing literature on the future of education. Using the review, the data was presented using frameworks to depict solutions for bridging policies and the future of quality education. There is need for intentional reviews of institutional policies and technical frameworks in the educational sector that meets the demand of the fast-paced world of work. The study presented headings on what Educators need to know, the classroom of the future, gaming as a tool for education and the role of policy makers in the future of education. In conclusion, the Nigerian educational sector needs disruptive frameworks and technologies that guarantees the future of education.
Keywords: Disruptive Framework; Future of Education; Industry; Policies; Universities.
The Effect of Internal Marketing on Employee Job Satisfaction Evidence from a Jordanian Tourism and Hospitality Setting
by Mohammed Ashour, Hameed Al-debi
Abstract: The main aim of this study is to achieve an in-depth understanding of the mechanism by which internal marketing affects job satisfaction. A theoretical framework was developed basing on related marketing literature. The study model was intended to determine the influence of internal marketing dimensions (IMD) represented by service culture, human resources management, marketing information, and motivation, on job satisfaction in tourism and hospitality industry, particularly in Dead Sea Region in Jordan. The target population of this study is employees of hotels, resorts, travel agencies in the Dead Sea Region. A convenience sample was selected from this population. Three hundred and seventy-eight (378) valid questionnaires were retrieved from respondents representing different departments in targeted hotels and resorts. SPSS statistical package and its related module Amos were used to test the relationship between the independent variables of the internal marketing dimensions (IMD) and dependent variables related to employees satisfaction (ES). The findings of the study have indicated the existence of significant positive correlations between three main dimensions of internal marketing (service culture, human resources management, and marketing information) on employees job satisfaction. However, results have shown a less motivation effect on employees satisfaction (ES). Finally, tourism and hospitality services represent one of the most dynamic sectors in Jordan, where the economy is seen as a service-oriented one. Accordingly, the study suggested a number of recommendations to decision makers in the tourism industry in order to improve their employees satisfaction levels.
Keywords: Internal Marketing; Employee Job Satisfaction; Tourism and Hospitality industry; Jordan.
Determinants of Customer Satisfaction with the Online Shopping Environment: Evidence from India
by Sahil Gupta, Arun Aggarwal, Amit Mittal, Pawan Chand
Abstract: Due to its practical importance, the relationship between customer satisfaction and the shopping environment has attracted many researchers. Various studies have established a close relationship between these two concepts and have tested them time and again. This relationship has shown to impact the traditional ways of shopping and has implications for the emerging field of online shopping in the context of an emerging market such as India. To address this, the current study aims to cover the various aspects of shopping which lead to customer satisfaction. Responses were collected from 543 online shoppers to understand their expectations and experience in the online shopping environment during the Indian festive season. A gap analysis was done to understand the difference between the experience and expectations of the shoppers. The results show that product return policy, delivery and warranty have a strong impact while the quality of interaction and mode of payment may require emphasis to deliver a positive shopping experience and to enhance retention strategies.
Keywords: Electronic commerce; Customer satisfaction; Gap analysis; Post Purchasing Satisfaction.
Sustaining Indian Pharmaceutical SMEs as global players: An empirical study on role of Lean-Kaizen tools
by THIRUMANI MUNISWAMY IYER VENKATESAN, Goutam Kumar Kundu
Abstract: Lean-Kaizen tools are among the popular industrial engineering concepts that guide managers and technicians to proactively improve an organizations sustainable competitive advantage in this fast growing Pharmaceutical industry .The purpose of this paper is to highlight outcomes of empirical studies. The design of this research paper is a case study research. For collecting data on process improvements to conduct empirical studies in MSME sector, 3 pharmaceutical units which deployed / implemented Lean tools were chosen. The findings of this study revealed that the Value stream mapping (VSM) a Lean tool contributed effective improvement in productivity and lead time reduction in one study. SMED tool improved productivity by reduction in change over time. Similarly Kaizen ideas have lead to savings in rework and reduction. This paper addresses the link between the theory and practice with submission of outcomes.
Keywords: Lean-Kaizen tools; Indian; SMEs; Pharmaceutical; Empirical study; sustaining; global.
Enhancing innovation in organisations: the role of initiative-friendly culture, individual creativity, and knowledge sharing
by Noufou Ouedraogo, Tarek Salam, Mohammed Ouakouak
Abstract: Innovation is a central pillar of any organisations long-term prosperity and even survival. Uncovering the factors that enable innovation is therefore of paramount importance. The purpose of this article is to examine the role of individual creativity, initiative-friendly culture, and knowledge sharing on innovation. Based on a quantitative study with a sample of 125 participants from different organisations, we find that creativity has a positive direct effect on innovation, but neither initiative-friendly culture nor knowledge sharing has a direct impact on innovation. However, they both maintain an indirect impact on innovation through creativity. We also find that business ethics and organisational size strengthen the relationship between creativity and innovation. Our findings provide new insights into how innovation can be enhanced in the workplace, along with practical implications for managers.
Keywords: Individual creativity; knowledge sharing; initiative-friendly culture; innovation; business ethics; organisational size.
Cultural Differences and McDonalds: A Multi-country Comparative Study
by Mahmood Khan, Abu Elnasr Sobaih, Kyuho Lee, Inhyuck Ha
Abstract: The current study assesses the cultural differences in the perceptions of McDonalds services in four countries, U.S., Malaysia, Vietnam, and Egypt. Countries were selected because there were enough variations based on the Hofstedes cultural dimensions. Using individual respondents and Hofstedes cultural dimensions, the study determined that there were statistically significant differences between the countries regarding perceptions of food quality, socializing place, and convenience. In general, the U.S. perceived McDonalds more critically than other countries whereas Egypt and Vietnam viewed it more favorably. The most apparent application is that culture needs prime consideration before planning to enter any country for business, irrespective of how popular, standardized operations, and procedures are. It is critical to determine the service perceptions of the target market particularly for an international chain restaurant, where similarities and differences of the various countries and cultures may have a profound impact. Other implications for practitioners and academics are discussed.
Keywords: Quick service restaurants (QSRs); cultural differences; Hofstede’s cultural dimensions; McDonald’s; service perceptions.
Starbucks Corporation in Albania: a discussion about franchising path and opportunities in global economy
by Agim Mamuti, Megi Ikonomi, Francesco Caputo
Abstract: Internationalization and globalization are challenging topics that are attracting the interest of a growing number of researchers worldwide. Unfortunately, the state of literature about these topics is mainly focused on the consequences and effects of companies internationalization and market globalization underestimating the evaluation process that is required for ensuring the success of strategy for companys internationalization. With the aim to enrich this thrilling debate, the paper proposes a brief overview about some key elements that a well-known global brand Starbucks - should evaluate for evaluating a possible penetration strategy in Albanian Market. The research path summarizes key reflections about companys profile, companys financial structure, and market perceptions and orientation for briefly depicting the complexity of internationalization strategies and globalization trends.
Keywords: Globalisation and International Business; Starbucks; Franchising; Accounting; Licensed stores; Financial ratios.
Evaluating the Competitiveness using Revealed Comparative Advantage Index: The Case of Indian Textile Exports
by Rahul Dhiman
Abstract: The purpose of this paper is the evaluation of the competitiveness of Indian textile products in the global market by using Revealed Comparative Advantage Index (RCA) during the period of 2014 to 2018. The present study also offers suggestions to the decision-makers so that export shares of Indian textile commodities in the world market can be enhanced. The results of the study indicate that the majority of the textile commodities have RCA greater than one which indicates comparative advantage while some of them do not. Out of total eleven products seven products are competitive. The commodities such as Silk; Cotton; Vegetable textile fibresnes, paper yarn, woven fabric; Manmade filament; Manmade staple fibers; Carpets and other textile floor coverings and Special woven or tufted fabric, lace, tapestry, etc. are found to be competitive. Impregnated, coated or laminated textile fabric and Special woven or tufted fabric, lace, tapestry are the commodities which are growing at a rapid rate. The study suggests that government support is mandatory in order to transform the labour productivity and technology upgradation to match world standards. The study also reveals that USA, UK, UAE, China, and Bangladesh are major export destinations of textile commodities and India should explore more opportunities by creating demand of these commodities specifically in China and Bangladesh which are geographically closer as compared to other nations.
Keywords: Export Competitiveness; Revealed Comparative Advantage; Textile Industry.
Infrastructure Financing at Crossroads: The Case of Infrastructure Leasing and Financial Services Ltd. (India)
by Ambuj Gupta
Abstract: The liquidity scare and credit crunch in the economy triggered in early September, 2018 when the saga of serial credit defaults was marked by Infrastructure Leasing and Financial Services Ltd., one of the biggest group companies in India, engaged with the infrastructure financing and development in the country. In repercussion, financial markets went into panic where stock markets shed heavily, investors lost millions and various institutional investors like banks, mutual funds, pension funds and insurance companies, etc. faced severe liquidity crisis. Carrying huge debt of 20 billion USD in its balance sheet with severe shortage of liquidity and dried-up sources of refinancing, more defaults were most likely in pipeline. In order to tackle the gravity of the situation, government appointed a high-level board of experts under the leadership of Uday Kotak, the Vice-chairman & Managing Director of Kotak Mahindra Bank and an iconic banker, to take control of IL&FS group, and tread-on to a viable path of debt resolution and restructuring. The IL&FS is the classic case of crony capitalism, collusion & fraud and failure of corporate governance. The case questions the efficacy of various systemic components of the economy including the auditing practice, the functioning of credit rating agencies and their credit rating methodology, the regulatory and supervisory system of financial institutions, and also, management control from the government as well as public sector giants holding significant shareholding in the IL&FS group. The case draws important lessons for strengthening regulatory environment in the country.
Keywords: Infrastructure Financing; IL&FS; India; NBFCs; Shadow Banking; Credit Default; Corporate Governance; Crony Capitalism; Collusion & fraud; Liquidity Crisis; Debt Resolution.
Cross-Cultural Training and Expatriates Adjustment: Evidence from Western Expatriates in Nigeria
by John O. Okpara, Jean Kabongo
Abstract: The increase in globalization of business has led to more expatriate managers to be sent to overseas to manage multinational subsidiaries than ever before, there is every indication that the use of expatriate managers will continue to increase in the future. Researchers have indicated that between 25 to 40% of all expatriates sent on foreign assignments return home prematurely. One of the reasons for expatriates failure is the inability of expatriate managers and their families to adapt to the host-country's culture. Lack of cross-cultural training has also been cited as one of the reasons for expatriate failure. Cross-cultural training has been described as one of global human resource management's most crucial activities and the potential benefits of effective cross-cultural training have been widely recognized. Very few of studies have been conducted on this topic in Nigeria. Since there are so little studies in Nigeria, there is a knowledge gap on this topic. To fill this gap, and increase our understanding on this important topic, the purpose of this research therefore, is to examine the impact of cross-cultural training on western expatriates adjustment in Nigeria.
Keywords: Africa; Nigeria; expatriates; cross-cultural training; expatriate adjustments,globalisation.
Observing legitimacy building in the reproduction and promotion of an entrepreneurial elite: The Scottish Entrepreneurial Exchange, 1995-2015.
by Robert Smith, Lorraine Warren
Abstract: Seldom are entrepreneurs considered as a collective phenomenon, although they form a privileged socio-economic elite with material resources and clout. From an organisational perspective, we know little about how successful entrepreneurs organise themselves to leverage collective legitimacy, nor the societal mechanisms used to achieve this. To operationalise this we examine the Scottish Entrepreneurial Exchange, a networking organisation for high net-worth entrepreneurs. Using close reading and observational techniques we interrogate the website to uncover legitimacy building mechanisms such as alignment, association and fraternity used by Exchange members. Enacting collective mechanisms including fraternizing, legitimates both the individual and the collective. We highlight the importance of collective elements of entrepreneurial identity and legitimacy building pointing to underlying social implications in further studying fraternal aspects of collective entrepreneurship.
Keywords: entrepreneurial elites; social organising; identity; collectives; legitimacy.
Factors Impacting Banking Frauds in India: A Conceptual Framework
by Pallavi Sood, Puneet Bhushan
Abstract: The Indian banking sector has witnessed exponential growth and changes since liberalization of economy in 1990-1991. Reserve Bank of India is the chief regulator of the banking sector and has done a reasonable work in close supervision. Never ending banking frauds pose a serious challenge to the government, banking sector as also the regulator. Growing challenges also fall in the realm of ethical practices, financial distress and corporate governance. This study looked at the cases of bank frauds listed by central vigilance commission, in order to understand the underlying issues in frauds in various sectors, different banking instruments used to commit frauds and the regulatory lapses in the banking sector. A detailed analysis was done by using secondary data (literature review and case approach) as well as an interview-based approach, spanning across all players involved in reporting, regulating and dealing indirectly or directly in the financial misconduct. The analysis acts as an anchor to study the components of frauds and define the role of regulators in the whole game plan. The study finally proposes some recommendations to reduce future occurrence of frauds in Indian banking sector.
Keywords: Central Vigilance Commission; Financial Distress; Banking Frauds; Regulatory Lapses.
Popularity of Facebook Hotel Brand-page posts among consumers: A study of Top 10 international and domestic hospitality brands in India
by Pratibha Singh, Neena Sinha, Manali Gupta
Abstract: Marketers have recognized the unprecedented popularity of social networking sites and are prompting to invest in their social media presence to disseminate information and marketing messages. In specific, hospitality brands are establishing Facebook pages with the relevant information that contain anecdotes, photos, videos or other multimedia content. Such innovative communication mediums promote interaction among members of the brand page and facilitate their direct feedback through online engagement metrics. The objective of this paper is to analyze the content of the posts published on the official Facebook brand pages of the top 10 international and domestic hotels operating in India and investigate their impact on the online engagement of users. The authors have performed manual coding for 950 posts by following a systematic coding strategy and thereafter, have applied the multivariate analysis. The findings contribute to the theory of information dissemination through social media platform and serve as a guide to hotels brand marketers in identifying posts characteristics that would be able to generate positive online responses.
Keywords: Facebook brand pages; online engagement; hospitality industry; content analysis; interactivity; vividness; multivariate analysis.
The Evolution of Asian Studies in Israel
by Meron Medzini
Abstract: There are many reasons why Asian studies got a late start in Israeli universities. Until the 1960s there was an absence of interest, there were hardly political, diplomatic and above all economic ties between fledgling Israel and the nations of South and East Asia. There were very few interested students, even fewer professors with the proper training. Universities in Israel did not see the worth of such studies compared to the Western oriented history, philosophy and politics, not to mention Jewish studies. There were very few books in Hebrew let alone in other languages available at university libraries. All this changed in the 1960s. This paper will discuss what were the reasons for the absence of Asian studies and what brought about the change that led to the flourishing of these studies that now attract hundreds of Israeli students every year.
Keywords: Israel; East Asia; Ben-Gurion; Sharett; The Hebrew University of Jerusalem; Tel Aviv University; Haifa University; Zvi Schiffrrin.
INTERNATIONALISATION AS A FACTOR FOR SUCCESSFUL TRANSGENERATIONAL PRACTISES IN FAMILY BUSINESSES
by Jefferson Monticelli, Renata Bernardon, Patrice Gaidzinski, Guilherme Trez
Abstract: The study of the internationalisation processes of family businesses has grown significantly in the last decades. However, there is no specific literature on the topic internationalisation as well as on its relationships with the transgenerational aspects of family businesses from emerging economies. Thus, this article aims to investigate the level of relevance of the internationalisation process as a factor for successful practises across generations in family businesses. To answer this question, a case study was carried out with a third-generation family business in Southern Brazil. The main results are that internationalisation can be an element of the revitalisation of the business, thus avoiding its decline. At least some of the members must take on the responsibility for continuing the founder's legacy, communicating clearly with the other family members who are not involved in the management to establish a dynamic among all shareholders.
Keywords: family business; internationalisation; transgenerational practices; generations; emerging economies; behavioural approach; case study; focus group; industrial context; family business context; internationalisation process; family context; social context.
How and why do the Poor Save? Determinants of Saving Behaviour of Rural Poor
by Sonal Purohit
Abstract: This study examined the savings behaviour of rural poor with a focus on the motives of saving and preferred savings mechanisms. One of the major causes of financial distress in lower income groups especially in developing countries has been lack of sustainable saving. The existing literature has mainly focused on the saving capacities of rural poor which is inadequate in explaining the saving behaviour. Building on the existing theories a more systematic view on savings motives and mechanisms preferred by this segment is presented in this research. The results revealed that the poor do not save for a goal and the only motive which significantly increases the likelihood of saving is to reduce the need for credit. Creating a corpus for medical exigencies was a major motive for informal saving. Providing a basic sustenance financial foundation for children was found to be a major motive for saving and this probably is a new finding which needs further research. This research has important implications for policymakers and financial professionals in formulating recommendations or developing financial, business plans.
Keywords: Rural Savings; Saving motives; financial inclusion; Low income; Asia; India.
Female Education and Economic Growth: An empirical investigation for Egypt.
by Yasmina Hamouda, Noha Farrag
Abstract: Since the seventies, Egypt has been pursuing policies to boost female education . However, no empirical study has attempted to quantify the impact of female education on the Egyptian economy. This paper examines the effect of female education on economic growth in Egypt between 1971-2014, using time-series analysis. Cointegration test and error correction model are utilised to examine long-run relationship and short-run granger causality between female verses male education and economic growth. Results suggest that the expansion of female education does not granger cause economic growth in the short-run. The remarkable finding of the study is that female education has a significant positive impact on economic growth in the long-run even more pronounced than that of male education, labour, and capital. The paper recommends a number of policy interventions to maximize womens education impact on sustainable economic growth in Egypt.
Keywords: economic growth; gender equality; female education; women empowerment; average years of schooling; human capital; time-series analysis; cointegration; error correction model; granger causality; Egypt.
Globalisation and HR Practices in Africa: When culture refuses to make way for so-called universalistic perspectives
by Dieu Hack-Polay, John Opute, Mahfuzur Rahman
Abstract: The paper examines how some factors that are embedded in the cultural and institutional framework in Sub-Saharan African organisations interact with global perspectives and the degree of resistance they present to changes in human resource management (HRM) processes. The paper considers aspects of the universalistic perspectives that have resonance for human resource practices in Africa. Furthermore, it evaluates the question of the tensions between the contributions derived from the indigenous and historical factors, and the inputs from external sources, to human resource management in Africa. rnThe research is based on a survey of 100 practicing African human resources professionals. The respondents were drawn from the major institutional actors in Nigeria. rnThe research found that, despite the impact of globalisation and the Westernisaion of training and development in Africa, HRM practices remain largely culture-bound. Many aspects of Sub-Saharan African cultures pervade organisational processes, e.g. collectivism and paternalism, that refuse to make way for change. However, the paper concludes that some of these temerarious cultural aspects that are often described as counter-productive in much of the literature, could actually be utilised for community and employee engagement. rnThe paper makes a significant contribution to the literature on HRM practices in Africa, an area under-researched. It provides an opportunity to African HR managers to be more pragmatic in identifying the contextual issues and for beginning to identify aspects of African culture that could be value-adding in a fast changing management landscape. The paper demonstrates that HRM policies have specific cultural orientations and reflect on both the societal predispositions of the region; this exemplifies how cultural paradigms, the political sphere and organisational life are intertwined in an African context.rn
Keywords: Culture; normative social influence; HR practices; globalisation; Sub-Saharan Africa; universalistic perspectives.
Entrepreneurial Grit: A Reflective Review
by Alex Lawrence, Norris Krueger
Abstract: To the popular mind, for entrepreneurs, could there be a more relevant construct than grit? This much-ballyhooed personal characteristic of determined, intentional perseverance should be a potent predictor of entrepreneurial behavior and success (e.g., Conner 2013). Why is it then that we see such mixed results of the impact of grit on entrepreneurial phenomena? In this review, we explore various aspects of how the psychological variable grit is applied to our understanding of entrepreneurial thinking, behavior, and performance and closely related domains.
Keywords: Entrepreneur; Grit; Entrepreneurship; Entrepreneurial Success.
An Effectiveness Measurement Model for Knowledge Management A Balanced Scorecard Perspective
by Meenu Chopra, Vikas Gupta
Abstract: The industry is transforming immensely to adapt to the challenges of globalisation and deregulation coupled with fast-paced convergence of technological resources, spur innovation, achieving operational efficiency and dilution of industry boundaries. There is an increased focus on organisational excellence and KM can help play a significant role in the process. All these changes are opening a completely new terrain for organisations and converging on aggregating and processing internal and external knowledge is inevitable in this profoundly competitive market place. The purpose of conducting this research is to identify the prominent KM practices in knowledge-intensive sectors and propose an instrument for gauging their implementation and impact on the measures of organisational performance. The study endorses the previous studies and uses both qualitative and quantitative research techniques for the development of an instrument in the Indian IT sector. Thorough literature review followed by the collection of firm-level data is used to specify the domain of construct, generate scale items, purify and validate the scale. A measurement model is proposed and tested with the help of confirmatory factor analysis (CFA). The research proposes a 31-item scale to measure KM practices under nine heads - culture, people integration of HRM and KM, KM leadership, information and communication technology (ICT) for KM, network and alliances for KM, learning and growth, internal process perspective, customer service perspective and financial performance perspective. The scale exhibits internal consistency and unidimensionality and also clears the reliability and validity tests - construct, convergent and discriminant. The proposed scale developed in this study would be a practical management tool for measuring KM practices in organisations and assessing its impact on all the dimensions of organisation performance.
Keywords: knowledge management (KM); knowledge management practices; balanced scorecard (BSC); scale; validity; reliability; confirmatory factor analysis (CFA).
Socio Economic Relations between India and China: Understanding and Examining the Significance of Trade
by Ashutosh Kolte, Balkrishan Sangvikar, Avinash Pawar, Qu Lirong
Abstract: In recent years, two giant countries China and India, are taking attention from the world because of fast economic development. China is the largest economy, and India is the third-largest economy in terms of Gross Domestic Product (GDP) on Purchasing Power Parity (PPP) basis. China has a dominating position in international trade, whereas Indias trade growth has shown sluggish growth. Chinas economic growth has slowed down recently. In this research, we have tried to analyze socio-economic relations between India and China and tried to understand socio-economic relations between countries, mainly emphasizing on trade. We have tried to find out how to stimulate positive relations in terms of Merchandise Trade and Economic Cooperation. For cooperative relations, we used data such as GDP trends, bilateral trade trends, relative competitive advantage index, the complementarity index to explain the trade complementary of bilateral trade between India and China. We also attempted to find reasons for trade confliction in this research. Based on the analysis, we found that cooperation, competition, and confliction coexist in the socio-economic relations between India and China, but the trend of the two countries economic relations is cooperative. We have also attempted to find out what potential economic collaborations are possible amongst nations to bring a bright future for India and China.
Keywords: Bilateral Trade; Trade cooperation; Competition; Confliction; India; China; Socio Economic Relations; Economic integration; Trade; common currency.
Assessing the barriers and positive impacts due to good Corporate Social Responsibility implementation: An Exploration of policymakers perceptions of select public and private entities
by Vimal Srivastava, Raj Laxmi Srivastava
Abstract: The purpose of the present study is to assess the barriers and positive impacts due to good Corporate social responsibility (CSR) implementation by selected private and public sector companies of Uttar Pradesh. The findings of the study indicate that most of the policymakers belonging to private and public sector entities disagree to a large extent regards to the barriers faced by them while implementing CSR activities. The policymakers believe to a great extent that good implementation of CSR activities bring a good positive response as it changes the perception of people towards the companys activities. It is recommended that in order to maximize the positive impact of CSR on the social and environmental systems in which they operate companies must develop coherent CSR strategies. This should be an essential part of the job of every CEO and board.
Keywords: Corporate Social Responsibility; stakeholder; perception.
Commercial Bank Employees Job Burnout: Hope or Hype?
by Saidur Rahaman, Mohammad Jamal Uddin, Mohammad Mizanur Rahman, Adedeji Babatunji Samuel
Abstract: The aim of this study is to find out the hopes in dealing with bank employees job burnout. The study was based on a sample of 225 bank employees in Bangladesh. A self-administered structured questionnaire was used as the survey instrument. Descriptive Statistics, Zero Order Correlation and Linear Regression Equation Model were used and revealed that 45.3% employees have little sign, 38.7% at risk, 10.2% no sign, 5.3% in the way and only 0.4% severe risk of burnout. Empirical results also showed that work stressors positively and work centered support variables negatively correlate with employees burnout. Work pressure and work overload have been found as burnout creating variables and good employer-employee relation reduces burnout. So, working towards preventing job burnout should not be the hype, rather, helping employees to have a hope of overcoming the job burnout need be emphasized by the management.
Keywords: Depersonalization; De-accomplishment; Emotional Exhaustion; Industrial Relations; Job Burnout; Private Commercial Bank; Role Overload and Work Time Pressure.
An Impact Assessment of Official Development Assistance: Empirical Evidence from India
by Ashwani Bishnoi
Abstract: The roles of foreign aid in economic growth through enhanced investment, technology transfer, human resource development, etc. have been well attested by existing economics literature. But the extent to which foreign aid contributes to economic and social infrastructure has been overlooked in the literature. In this context present study intends to capture the impact of Official Development Assistance (ODA) on economic and social infrastructure of India. The study considers the specific case of UK and Japanese ODA being active supporters of both the forms of infrastructure in India. The results suggest that these two countries ODA play significant role in shaping the economic infrastructure of India. Intensity of impact is more tuned to the UKs ODA compared to Japanese ODA. The study also evidences that the less effectiveness of governance and poor regulations hamper the pace of infrastructure development in the country. The study also provides evidence of strong impact of UK's ODA in social infrastructure development of India.
Keywords: Official development assistance; Economic & social Infrastructure; Japan; India.
Effect of Trade Shock on Inequality, Unemployment and Inflation in Sub-Saharan Africa
by Chinwe Okoyeuzu, Ebere Ume Kalu, Angela Ukemenam, Augustine Ujunwa
Abstract: We studied the impact of trade shocks on inequality, unemployment and inflation in 35-Sub-Saharan African countries from 1997 to 2018. Using the VECM framework, we confirm a strong correlation among trade, inequality, unemployment and inflation, and find that adverse shock from trade promotes inequality, unemployment and inflation in Sub-Saharan African countries. This implies that the gains from trade are elusive in Sub-Saharan Africa, and the channels of the negative shocks could be imports surge relative to exports, job loss by workers in sectors with greater initial exposure to export surge, imported inflation and labour immobility between trade partners. Based on the findings, the study recommends that Sub-Saharan African countries need to rethink their trade engagement, in terms of restructuring their economies and strategic engagements with trade partners to optimise the gains of trade.
Keywords: Trade; Inequality; Competitiveness Problem; VECM; cointegration.
CORPORATE DIVERSIFICATION AND FIRMS FINANCIAL PERFORMANCE: AN EMPIRICAL EVIDENCE FROM INDIAN IT SECTOR
by Rajesh R
Abstract: Corporate Diversification is one of the most sought-after approaches to strengthen a firms global presence, improve shareholders wealth, provide economies of scale, secure competitive advantage, align corporate culture and ultimately provide higher revenues. It also sometimes, forms a part of firms corporate restructuring activity. The IT sector is one such industry in India having high exports with a GDP contribution of 7.7 percent. The aim of this research paper is to provide empirical evidence on the effect of Geographic and Segment diversification on the financial performance of the Indian IT sector. The study was done on 12 listed IT firms representing 93% market share on BSE/NSE. This study has relied on historical accounting data generated from annual reports and CMIE Prowess database collected between the period 2014 and 2018. Using the Entropy measure for segment diversification and the ratio of foreign sales to total sales for product diversification, with performance indicators such as the ROA and ROI, this paper relates firm performance and diversification for the Indian IT sector. Standard econometric regression analysis on panel data was carried out to find the stated relationship. The results of the regression analysis revealed that international/geographic diversification impacted strongly on IT firms profitability whereas product/segment diversification had no significant impact on the firms profitability. Conclusively, firms tend to improve their profitability and performance by encouraging export of services and products to foreign countries and by undertaking international diversification strategies. This study also proves the existence of demand for Indian IT sector in other countries. These results could be useful in decision making for top managers of IT companies as they advocate the need for diversification (specialization) and growth in size and also provide encouragement to small-scale Indian IT companies to undertake international diversification activities with confidence.
Keywords: Corporate restructuring; Entropy index; Geographic diversification; Product diversification; Financial performance.
I saw it, I bought It! The irrational buying behaviour in retail sector
by Komal Malik, Manoj Joshi
Abstract: Consumers across the world have been creating a whirlpool around non-rationality, which has immersed the retail industry into Volatility, Uncertainty, Complexity and Ambiguity (VUCA). This study has attempted to capture the non-rational behaviour of Indian consumers with reference to the apparel retail sector through experiential design of research. Review of the literature brings about various situations or conditions; wherein non-rational decisions were undertaken by a buyer. The Indian retail industry holds over 10 per cent of the gross domestic product of the country. The findings reveal a genesis of rationality and non-rationality. It explores the antecedents and epistemology of non-rational purchases from the economic perspective. Parametric statistical tools were employed to test the stated hypothesis. The outcome of the study may reveal methods to marketers for pushing products. On the contrary an important research query emerges, whether the seeing and buying nature in consumerism, will burden any economy?
Keywords: Apparels; brand; retail industry; non-rationality; situational-factors; buying-behaviour; decision; economy; VUCA; India.
PUBG Addiction: The Effects on the Social Engagement, Mental Health and Academic Performance of the Millennials
by Shilpi Gupta, Ishfaq Hussain Bhat
Abstract: The popularity of PUBG game has created a massive impact on Indias gaming audience by making competitive gaming accessible to casual players. Although PUBG game has a far-reaching impact and massive popularity, it has got certain addiction connotations as well. Therefore, the study examines the effects of PUBG addiction on the mental health and academic performance of the millennials. The study also investigates the mediation effect of social engagement between PUBG addiction and mental health. The moderation effect of gender of the respondents has also been investigated on the grounded model. The study has used an online standardised questionnaire on a sample of 300 students, chosen through purposive sampling technique. The findings of the study reveal that PUBG addiction has got an inverse effect on the academic performance and mental health of millennials. Partial mediation effect of social engagement has also been found. The study has also found that males are more addicted to the PUBG game as compared to their female counterparts. The study helps the academicians, parents and policymakers in gauging the addictive effects of PUBG game and thus designing policies to combat the usage of the game.
Keywords: PUBG addiction; social engagement; mental health; academic performance gratification.
RELATING EXCHANGE RATE, INTEREST RATE AND CREDIT TO PRIVATE INVESTMENT IN NIGERIA
by Ebere Ume Kalu, Augustine Arize, J. U. J. Onwumere, Elizabeth Uzoamaka Okechukwu
Abstract: The study is concerned with establishing whether a link exists among interest rate, credit, exchange rate and private investment with focus on the Nigerian economy. Here, our variables of interest include the natural log of private investment, bank credit and the level form of the exchange rate while controlling for interest rate. The sets of data are drawn from the statistical bulletin of the Nigerian Central Bank which is one of the most dependable data source for studies involving Nigeria. 1981 to 2016 representing a 36 year period. Following the ARDL bound test and error correction approach, the elasticity of private investment to the studied variables follows thus: 32% and 46% for its own first and second lag respectively; 141% and -131% for the contemporaneous and first lag value of credit respectively; 5% for interest rate with exchange rate showing a non-significant elasticity of 0.01%. The ECM suggests that the studied private investment adjusts to the speed and dynamics of interest rate, credit and investment. By way of policy implication, we submit that it has become more imperative than ever before for the government in collaboration with the monetary authorities to evolve an interest rate, credit creation policies and exchange rate that work to stimulate investment in particular and growth in general.
Keywords: Investment. Credit; Interest Rate; ARDL; Nigeria.
"Israel's secret is its Chutzpah" : The Role of Chutzpah in Israel's entrepreneurship and innovation Scene An Interpretive Essay
by Eyal Inbar
Abstract: The paper offers a unique explanation for Israel's success as the "Start-up Nation" and to the Israelis' drive for innovation. It analyses the phenomenon of Chutzpah as a Jewish/Israeli trait which encourages entrepreneurship and innovation in that country. This explanation focuses on a national Jewish/Israeli culture and not on the eco-system developed by the government, the effective VC industry, Israel's geo-strategic situation and other explanations offered by the literature.
Keywords: Israel; chutzpah; national culture; innovation; entrepreneurship.
Examining the Psychological Strain--Affective Organisational Commitment Relationship When Jointly Moderated by Emotional Support and In-group Collectivism: A Cross-Cultural Perspective
by David Ford, Ray Fang, Kiran Ismail, Laurie Ziegler, Hao Chen, Diane McNulty
Abstract: We develop a framework to study the effects of emotional support in the relationship between psychological strain and affective organisational commitment in different cultural contexts. Based on the job demands-resources model and conservation of resources theory, we hypothesize that employees emotional support and in-group collectivism orientation jointly moderate the relationship between psychological strain and affective organisational commitment. We tested the hypothesis on a sample of 2702 respondents from eight different countries: Germany, India, Indonesia, Poland, South Korea, Turkey, United Arab Emirates, and the United States. The results highlight the roles of emotional support and in-group collectivism in employees responses to psychological strain.
Keywords: job demands-resources model; conservation of resources theory; emotional support; psychological strain; in-group collectivism; affective organisational commitment.
CORPORATE SOCIAL RESPONSIBILITY PRACTICES OF PUBLIC AND PRIVATE FIRMS: AN EXPLORATION OF EDUCATION AND HEALTHCARE INITIATIVES
by Vimal Srivastava, Raj Laxmi Srivastava
Abstract: The purpose of the present study is to compare the key Corporate Social Responsibility (CSR) practices being practiced by selected private and public sector companies with special reference to education and healthcare practices. The study has made use of 200 respondents who were randomly approached. The findings of the study indicate CSR activities of the selected firms in India are primarily addressing the Sustainable Development Goals (SDGs) relating to health; education; work and economic growth, gender equality; water and sanitation; and life on land. The most desired activity as a part of healthcare according to policymakers of public sector entities were organising health check-up camps. The organisations do not have the capability to take over the responsibility of governments in contributing to community wellbeing just as their essential job is intrinsically determined by economic requirements. However, it has also been seen that there is a slight difference as far as the activity of Health Check-up camps is concerned i.e. the percentage of involvement of the public sector is more than that of the private sector. The private sector corporates in India need to follow the example of these large public sector companies of India, and there is a need to bridge the gap in resource allocation for CSR activities between the public and the private firms. There is a call to open up new spaces and make available new frameworks for organisation and stakeholder dialogues.
Keywords: Corporate Social Responsibility; stakeholder; perception.
Eco Fashion Brands and Consumption: Is the Attitude- Behaviour Gap Narrowing for the Millennial Generation?
by Daniella Ryding, Myriam Caratù, Gianpaolo Vignali, Qiang Jiang
Abstract: The purpose of this research is to critically examine, in the context of the Fast-Fashion industry,rnthe relevance of Eco-fashion on young consumers attitudes and perceptions of the brands, in orderrnto disclose the relationships between Eco-fashion strategies and customers brand loyalty - orrnconsumers purchase intentions. In particular, the aim of this paper is to present arguments thatrnthere is a reverse trend of the attitude behaviour gap for fast fashion consumers in the UK, whichrnis narrowing thanks to the use of information that are widespread especially in the web 2.0. As arnresult of this trend, there is a growing implication for fast fashion retailers to extend their ecofashionrnlines, to attract brand loyalty, shift ideologies, thereby potentially impacting upon futurernpurchase intent. The research design reckons on a mono method, based on a quantitative onlinernsurvey conducted among 216-targeted respondents from four age groups and two differentrncountries (China UK). The findings reveal that, although fast-fashion consumers still lackrnknowledge about the negative impacts of this industry, Eco-fashion strategies are playing anrnincreasingly important role in fast-fashion consumption. Besides, the growing significance ofrnsustainability in the fast-fashion industry has impacted consumers attitudes towards the brands,rnthus influencing their customers loyalty and purchase decision-making. Academically, the valuernand originality of the research relies on the newness of the thematic, since so far only few studiesrnhave focused on exploring the more current relationship between Eco-fashion and fastfashionrnconsumers perspectives of the brands. On the contrary, in the business field, fast- fashionrnretailers - in order to earn long-term profit have realized the importance of developing andrnimplementing strategies aimed at exploiting the potentialities of the above-mentioned relationship.rnTherefore, this study has relevance also in terms of managerial implications for fast- fashionrnretailers, since it gives some suggestions for future directions and sustaining economic profit.
Keywords: Fast-fashion; Eco-fashion; Eco-fabrics; Recycling; Consumer Attitudes; BrandrnPerceptions; Sustainability.
Emotional Labour, Job Satisfaction and Employee Performance: A Mixed Methods Approach
by Binod Rajak, Punam Singh
Abstract: The rapid growth and development of the tourism sector have given rise to a significant and manifold acceleration in competition. Survival and success in the industry have become synonymous with ensuring the happiness and satisfaction of external as well as internal customers. Thus, in order to stay in business, it has become imperative to please both customers and employees alike. The study presents a conceptual model and examines the mediating role of Job Satisfaction (JS) between Emotional Labour (EL) and Employee Performance (EP). With the help of an explanatory mixed-methods approach in which quantitative analysis was followed by a qualitative. A qualitative study consisting of a semi-structured interview which elaborated on the initial findings to understand EL, JS and EP from an employee perspective. Our investigation found that JS has a significant effect and partially mediate the relationship between EL and EP.
Keywords: Emotional labour; Employee Performance; Job satisfaction; Mediation; Mixed Methods Approach.
Understanding Workplace Culture in Malaysia: Cultural Characteristics of Chinese-Malaysian Ethnic Society
by Ling Suan Choo, Hassan Abu Bakar, Stacey L. Connaughton
Abstract: The purpose of this article is to unearth the cultural characteristics of the Chinese-Malaysian ethnic society. Data collected from in-depth, one-on-one interviews with 25 participants revealed three themes that help us understand the between-group and within-group characteristics of Chinese ethnic group members in Malaysia: community affiliation and embeddedness, survival culture, and respect culture. These categories of meanings point to some unique ways in which cultural norms and values are conceptualized, valued, and constructed by Chinese-Malaysian ethnic group members. Findings suggest that Chinese Confucianism and native norms and values materialize in the Chinese-Malaysian context when members of the society are able to communicate constructively with each other through their own community affiliation, a feature that is itself part of their ethnic identity. The findings of this study have important theoretical and practical implications for managing cross-cultural and multi-ethnic relationships in the workplace.
Keywords: cross-cultural relationships; norms; values; workplace diversity; Malaysia.
The effect of tribalism, Islam and nationalism in the Family capital- family firm resilience relationship in Arab countries: evidence from Western Sahara
by Saikat Gochhait
Abstract: Regarded as the resource stock that composes the family firm
Keywords: Family firms; Family capital; Organizational resilience; Arab setting;Tribalism; Islam; Nationalism; Western Sahara.
The Determinants of Export Performance of Jordanian SMEs: A Comparative Perspective
by Khalil Al-Hyari
Abstract: As a key crucial point, this study aims to explore the current export determinants for small and medium-sized enterprises (SMEs) in Jordan and how these determinants influence the export performance by focusing on firms mainly exporting to Middle East and Europe. The study is based on the qualitative multi-case study research approach. The case study data were collected from 30 SMEs managers/owners within manufacturing industries exporting to Middle East and Europe. The findings have identified that, for firms that export to both the Middle East and European regions, external factors (including political environment, technological environment, and economic environment) and firm capabilities, export marketing as an internal factor (including the high cost of capital to finance exports, the lack of managerial time to deal with exports, product, price, advertising, promotion and distribution channels) have a direct negative influence on export performance, whereas firm characteristics (firm size, and firm previous experience) as internal factors have positive influence on export performance. This study can serve as a reliable reference guide to business practitioners at SMEs that are focused on exports activities. The findings of this study will help policy makers put together suitable and effective policies that will aid SMEs in removing obstacles which obstruct their exports while also enhancing the understanding of internationalisation barriers for both SMEs owners and managers at the management level, thus aiding them to find appropriate export assistance from the government. Also, it provides fresh insights into the context of the internationalisation of SMEs literature, as it considers the importance of determinants of the export factors to SMEs performance. Finally, this is an original study applied to the Jordanian manufacturing sector. This study offers insights into SMEs export barriers in a Jordanian context.
Keywords: Export Performance; Jordanian SMEs; Europe; Middle East; International Business; Export barriers.
Entrepreneurial Activity for Discontinuous Innovation in Established Companies
by Masamichi Ishii
Abstract: Previous research has discussed how to create discontinuous innovation (DI), which produces a breakthrough product, in established companies. A few studies show that the entrepreneurial activity is conducted to develop DI in established companies. However, there are significant differences in the explanation of how the entrepreneurial activity is conducted among those studies. In other words, there is not sufficient understanding about the entrepreneurial activity. The previous research has discussed how to produce DI without sufficient understanding of the entrepreneurial activity. This study aims to fill this gap. It has conducted a multiple-case study on five DI projects. The results contribute to the literature in two ways. First, they enhance the understanding of the entrepreneurial activity to identify opportunities for DI in established companies. Second, they figure out the active role of top management to promote the entrepreneurial activity to develop DI.rn
Keywords: Discontinuous innovation; Radical innovation; Entrepreneurship; Corporate entrepreneurship.
Do Business-Friendly Regulations Foster Corporate Social Performance? Evidence from 20 Emerging Market Countries
by Namporn Thanetsunthorn, Rattaphon Wuthisatian
Abstract: The present study sheds light on businesses socially responsible behaviour under a growing trend of ease of doing business deregulation in emerging markets. The study performs a wide range of statistical methods (e.g., Pearson product-moment correlation coefficient, ordinary least squares regression, generalised least squares, censored regression) to empirically examine the impact of ease of doing business deregulation on emerging market firms socially responsible behaviour using a sample of 1,465 firms from 20 emerging market countries Brazil, Chile, China, Columbia, Egypt, Greece, Hungary, India, Indonesia, Malaysia, Mexico, Peru, Philippines, Poland, Russia, South Africa, South Korea, Thailand, Turkey, and United Arab Emirates. The findings suggest the positive impact of ease of doing business deregulation on corporate social responsibility (CSR) performance, especially in the community dimension. More specifically, under a more business-friendly regulatory environment in emerging markets, firms are likely to demonstrate socially responsible behaviour through greater CSR efforts by making substantial positive contributions toward the communities within which their business operations are embedded. The findings further provide meaningful implications for business firms and policy makers regarding the role of community-related CSR initiatives as a strategic instrument in promoting community development and addressing socio-economic challenges in emerging markets.
Keywords: deregulation; corporate social responsibility; ease of doing business; emerging markets; community development; government regulations.
What motivates social entrepreneurs to be active in promoting sustainable social services in shrinking rural regions? A case study of Greater Twente.
by Paul Benneworth, Willem-Jan Velderman, Martin Stienstra
Abstract: There is increasing interest in the role of social entrepreneurship in supporting the liveability of declining areas by supporting the availability of services that can no longer be efficiently provided centrally. Policy-makers are seeking to stimulate social entrepreneurs but there is no consensus as to what motivates social entrepreneurs. This paper explores the issue of social entrepreneur motivation proposing a four-fold motivational framework, pragmatic, activism, realism and idealism. Drawing on a case study of social entrepreneurship in a declining rural region in the East of the Netherlands, we identify nine motivation narratives by which social entrepreneurs explain their decision-making. We use these nine narratives to refine this motivation typology as the basis for a more systematic exploration of the motivations of (social) entrepreneurship. We argue that policy-makers could use this framework to better tailor support instruments to these diverse motivations to better harness social entrepreneurship to address rural shrinkage.
Keywords: Social entrepreneurship; shrinking regions; entrepreneurial motivations; rural liveability; social economy; quality of life.
TOURISM IN THE GLOBAL ECONOMY: A BIBLIOMETRIC ANALYSIS OF SCIENTIFIC LITERATURE (2000-2018)
by Jaime De Pablo, Juan Uribe-Toril, Jose Luis Ruiz-Real
Abstract: Tourism is one of the most important sectors in the global economy and has been gaining momentum in the last several years, both in developed countries as well as emerging economies. This growth has engendered increased interest from the scientific community publishing on this topic. The aim of this article is, by means of a bibliometric analysis and using a fractional counting method, to identify articles related to the subject of global tourism and economics in the indexed articles within the WoS and Scopus databases. In terms of the number of documents, 1,720 articles were found on WoS and 2,724 on Scopus. The research also shows the evolution in the number of articles published on this theme, the most influential countries in terms of published articles, the most relevant organizations, the most prolific authors and journals. It also analyses the most recent research trends, including methodologies of growing interest related to tourist motivation, improved management, pricing policy or the planning of large events, all of which could serve as guidance and the basis for future research.
Keywords: Tourism; Worldwide Research; Bibliometric; Tourism Trends; State-of-art.
Formulating and Redesigning Retention Policies for Millennial at Manufacturing Industries of Bangladesh
by M.D. Mahamudul Hassan, Sabrina Nushrat Islam
Abstract: The manufacturing industries of the private sector plays a significant role in the overall development of any country. Despite its phenomenal success, private sectors are facing enormous challenges due to the frequent turnover of millennial all over the world. These enormous turnovers took place due to the absence of Job satisfaction. Whereas turnover causes massive overt and covert losses. Moreover, the study reveals that this emerging problem is likely to continue in the future also. Despite some related studies carried out in the western context, the issue of frequent millennial turnover remains unresolved. Therefore, the primary objective of the study was to observe the mediating role of job satisfaction on integrated retention strategy for retaining the Millennial employees in private sectors. Herzberg's two factors theory was used as the foundations of the study. A simple probability sampling technique was used to identify 500 samples from the target population of Bangladeshi manufacturing industries. SPSS and SEM (AMOS) were used to analyse the data, to create the model and to reveal the mediating effects of job satisfaction. The results show a significant positive relationship with retention, Job satisfaction, and millennial retention factors (servant leadership, management initiative, soft HRM, Work-life balance). But the ethical climate did not have any significant relationship with retention mediating through Job satisfaction. The findings and recommendations of the study can be considered by all the stakeholders of the manufacturing sectors to overcome the massive millennial turnover losses. Moreover, the study concluded by highlighting the contributions, various limitations and research directives for future researchers.
Keywords: Retention ,Policy; Millennial ,Generation Y; Mediation ,Job Satisfaction,HRM,Turn Over,Generation Y.
Small and Medium Enterprises and Low-Income Workers in the Global Value Chain: Evidence from Indonesia
by Miguel Angel Esquivias, Lilik Sugiharti, Rossanto Dwi Handoyo, Muryani Muryani
Abstract: This paper looks at changes experienced by Small and Medium Enterprises (SME) as well as by workers in Indonesia as a result of fragmentation in production networks. Indonesian value-added exports expanded 285% from 1995 to 2011, changing patterns of trade as it re-directed focus towards Asia, towards specific sectors (mining and manufacturing), and became more specialised in intermediate goods. However, it remains to assess to which extent liberalisation supported inclusive growth in Indonesia for SMEs, and to lower-skilled workers. Through an Inter-Country Input-Output dataset, this study measures the participation of Indonesia in the Global Value Chain (GVC) and deconstructs gross exports into value-added indicators that differentiate between intermediate or final goods; direct and indirect value exports; domestic and foreign value-added. By integrating two additional datasets (industrial survey and labour), this study links gains at firm size and jobs. This paper discusses how the GVC integrates the less skilful workers and smaller firms, and how deep is the change in exports as a result of deeper integration in Indonesia comparing the years 1995 and 2011. Although nearly 83% of exports are reported through large firms, SME participates by providing services, parts and components to exporters. Direct exports of SMEs are concentrated in a few sectors; however, the indirect content reaches more than 30% of total domestic value exported (forward role).
Keywords: Production Networks; jobs in exports; Indonesia; Global Value Chain; Value-added trade.
Challenges of Work Life and Coping Modalities: A Study of Work Life Balance of Married Working Women with Special Reference to Public and Private Sector Banks
by Farzana Khan, D.B. Singh
Abstract: The aim of the paper is to examine the relationship and the effect of Work Life Balance (WLB) on the married women employees personal life, primary responsibilities, work life-job satisfaction and retention working in the selected public sector banks. Descriptive analysis, correlation and regression analysis techniques are used to analyse the collected data in this research study. Purposive and convenience sampling technique has been used for data collection. It is found that there is a positive relationship and effect of WLB on married women employees personal, primary responsibilities and work life i.e. job satisfaction and retention. The study shows that the married women employees working in the public and private sector banks of have medium level of WLB. It is expected that a person cannot fully live the life he/she desires unless they manage a perfect work-life balance.
Keywords: Personal life; Work life; Work life Balance; Primary career; Job satisfaction; Retention.
Employee Affection Strategies through Employer Branding: Evidence from Indian Manufacturing Sector
by Sathyanarayana , Veena Shenoy, Nivedita Jha
Abstract: Employer branding has taken substantial consideration in recent times. Employer brand has developed an actual and a vital instrument to achieve competitive advantage in current corporate world over its rivals. The current study helped us to understand the employee affection in Indian manufacturing sector based on employer branding, employee retention strategies, organisation culture, organisational identification and employee welfare activities as attributes. The 250 responses from Peenya industrial area in Bangalore city, India, are collected to prove the regression model proposed in this study. Regression results show Employer Branding (X1), Organisation culture (X3), Organisational Identification (X4) and Employee Welfare (X5) were the significant determinants of employee affection. A strong employer branding strategy both internal and external can positively contribute to enhanced recruitment of talents to the organisation, retention of the existing workforce and also assists to differentiate the company from the competitors.
Keywords: Employee Affection; Employer branding; employer attractiveness; employee engagement; brand management.
Male preference in television advertisements for financial services: a content analysis (2011 vs. 2018)
by Namrata Sandhu
Abstract: This study utilises the expectancy theory framework to examine the distribution of gender roles in Indian television advertisements for financial services. The study also uses a short-term longitudinal framework (2011 vs. 2018) to assess changes in gender role portrayals in television advertisements for financial services. Content analysis of taped television commercials for financial services across four content analytic measures: gender of voice-over, gender of dominant product user, gender of dominant character, and gender of decision-maker revealed male preference in advertisements for financial services. The study also revealed that the incidence of male gender roles in advertisements for financial services has declined from 2011 to 2018. Implications are discussed. This study is one of the few studies that examine gender stereotypy in advertisements for financial services in a country that is culturally distant from other countries in which most of the studies on advertising/marketing of financial services have been previously conducted.
Keywords: gender; gender role; gender portrayal; stereotype; advertisements; commercials; financial services; expectancy theory; content analysis; television.
Consumer Purchase Intention towards Traditional Chinese Medicine
by S. M. Ferdous Azam, Abdullah Sarwar
Abstract: Traditional Chinese medicine (TCM) is not scientifically proven and standardized. Hence, the customer depends highly on the credibility of the provider. However, there is a lack of research with respect to consumers purchase intention towards Traditional Chinese Medicine (TCM) treatment. Therefore, the purpose of this research is to model the relative effects of trust, knowledge, perceived price and attitude on the intention of consumers to purchase TCM in a market setting outside China. Data were collected over an 8-week period, using a close-ended questionnaire from 329 respondents in Malaysia. The proposed model of this study was tested using Structural Equation Modelling (SEM). Findings showed that trust, attitude and knowledge were significant factors in determining consumer purchase intention towards TCM. This study suggests that marketers should focus more on trust-building and on reducing consumer mistrust in order to establish long-term acceptance of and commitment to purchase TCM. Besides, marketers are encouraged to focus more on enhancing consumer knowledge about TCM treatment through education and confidence-building experience. Entrepreneurs who want to penetrate into the health care industry with TCM treatment need to emphasise the influence of consumer trust and knowledge to foster and expand market share.
Keywords: Consumer Preference; Traditional Chinese Medicine; Trust; Perceived Price; Attitude; Purchase Intention.
Special Issue on: 4th SMICBES Financial Development and Business Innovation in Emerging Markets
Related Party Transactions on Tunneling and Propping Perspective
by Hety Budiyanti
Abstract: This research investigates the relationship between related party transactions (RPTs) and shareholders value. Using a sample of Indonesian listed firms from 2009 to 2015, we find that considerable shareholder value was destroyed when the RPT is considered as tunnelling activity, while on the other hand firms earn positive significantreturn when it is considered as propping activity. Our findings also suggest that firms with concentrated ownership structure experience larger value loss. Our further investigations also indicate the abnormal returns are positively related to proxies of corporate governance and information disclosure.
Keywords: related party transaction; tunneling; propping; market reaction; good corporate governance.
REPUTATION OF EXTERNAL DIRECTORS, AUDITORS AND EARNINGS MANAGEMENT
by Aphichet Chaiwut, Ravi Lonkani, Chaiwuth Tangsomchai, Suchanphin Suwanaphan
Abstract: External directors and auditors are crucial elements in determining corporate governance. The efficiency of monitoring and controlling mechanisms depends upon the effectiveness of external directors and auditors. However, the efficiency of each external director and auditor is varies. In this research, the key question is whether the reputation of external directors and auditors reflects upon the potentiality and the perceptions of monitoring and controlling in a consistent manner or not. If the reputation of external directors and auditors reflects the potentiality of monitoring, this may mitigate earnings management. Nonetheless, if reputation represents the busyness of external directors and, auditors, the results occurring would be inconsistent with the aforementioned hypothesis. In this respect, reputation was measured by the number of companies in which each external director and auditor had been appointed. According to the results, it was disclosed that the more the reputation of an external director or auditor leads to increasing of burden on external directors and auditors. As a result, this affects efficiency in controlling and monitoring the operating processes of the management.
Keywords: external director; auditor; earnings management; reputational hypothesis; busyness hypothesis.
Modeling the Competitiveness of Regional Bank: Empirical Evidence from Sumatera, Indonesia
by KAMALUDIN KAMALUDIN, Muhammad Nashsyah
Abstract: This research examines the effect of competitive strategy, Customer Relationship Management (CRM), and service culture on the competitiveness and performance of regional bank in Sumatera Island. The data is obtained through the observations and survey to managers in Sumatera region banks (BPD). The results of our study indicate that the competitive strategy applied by BPD significantly contributes to the improvement of bank performance. Competitiveness mediates the relationship between the independent variables (Competitive strategic, CRM, service culture) and dependent variable (Bank performance). Further, it is reported that the effect of competitiveness on bank performance is stronger than the effect of the competitive strategy. We point out that CRM is not directly affecting the performance, but CRM has contributed to improving the competitiveness and indirectly affects the growth of the BPD. Moreover, the construct of service culture directly affects the performance of the BPD and have shown no effect on competitiveness. Otherwise, the direct and significant effect is indicated by the implementation of service culture on the BPDs performance.
Keywords: ccompetitive strategy; CRM; service culture; competitiveness; BPD.
The Perspective of Indonesian Students Abroad, Professionals, and Indonesian Government of International Mobility of Indonesians
by Tutik Inayati, Utomo Sarjono Putro, Santi Novani
Abstract: Increasing interests of students and professionals to go abroad generate a problem in terms of the lack of capable human resource along with various reasons that support this phenomenon. This paper addresses preliminary research regarding this matter, explores the circumstances faced by Indonesian Government, and more importantly, how quantitative and qualitative collected data can be combined to generate effective public policy recommendation. Quantitative data is collected using surveys shows that majority of Indonesian students abroad will return and that there are differences in variable importance between our students and professionals preferences, while qualitative data shows valuable information in relation to research condition in Indonesia and international migration. This paper contributes to the evidence-based preliminary research in order to suggest Indonesian Government which direction that certain policies should be created to anticipate the possibility of scientists and engineers scarcity in the future.
Keywords: scientists and engineers; students; professionals; abroad; Indonesia; public policy; research.
Shariah rural Bank and the empowerment of micro and small Economic:strategies and business differentiation in Indonesia
by Muhammad Said, Abdul Hamid, Dudu Duswara Machmuddin
Abstract: The current study aims at exploring the shariah Rural Bank's role in the development of the rural areas community. It focuses on three main issues which are business networks of shariah rural banks to compete in multi business competition; the differentiation of BPRS in competitive business environments in building market share; and, roles played by shariah rural banks in rural development, especially in helping to grow micro and small enterprises. Qualitative approach was applied by using in-depth interview, observation and study documentation to collect data. Informants were purposely decided are manager of shariah rural bank, financing unit; customers financed by SRB and the members of shariah rural bank micro community. Document was the source to extract SRB's profile and other related to the study. Observation applied to understand the relation between bank and its customers, the approach and process of empowering the customers and the micro and small enterprises. The study revealed that Shariah rural bank develops market share networks through religious sentiment, approaching Muslim public figures, leaders of Islamic organizations, and those who have high influence in the society. SRB also develops an inclusive pattern with non-Muslim consumers. Its business differentiation in empowering micro and small enterprises group by mosque-based empowerment, increasing potency of human capital and social capital as the new agent in developing its business and public education as well. The presence of shariah rural bank impact to the economic development agent, social solidarity tie; religious awareness and its relation to economic and business activities.
Keywords: shariah rural bank; human capital; social capital; innovative products; and small-micro community.
Special Issue on: Sharing Economy/Collaborative Consumption A European Perspective
What can we learn from digitalisation and servitisation to shape a new mobility paradigm?
by Véronique Goehlich, Guy Fournier, Alexander Richter
Abstract: The ongoing transformation of our industry structure is closely related to digitalisation. Smart, connected products are at the heart of this development and create new consumption schemes. The current auto-industry's value chain structure and internal rivalry between original equipment manufacturers are evolving towards competing eco-systems. Digitalisation enables the collaboration of heterogeneous organisations. Moreover, the integration of technologies for connected products and e-mobility is accelerating the servitisation process. Digitalisation and servitisation are disrupting established business models and creating a creative destruction process. Instead of buying a car, people call for mobility services and digital process to get them. The focus is shifting increasingly to the customer data that can generate entirely new and scalable revenue streams. We will identify some key success factors for moving from a traditional product company to a digital service. This process of creative destruction will particularly affect the automobile branch but also create new business opportunities.
Keywords: sharing economy; automobile industry; servitisation; digitalisation; mobility on demand; mobility services; multimodal mobility; intermodal mobility; digitalised product-service system; use-oriented PSS.
The 'sharing economy community' on the role of local government in promoting, steering and governing the sharing economy. An exploratory study
by Monica Bernardi, Davide Diamantini
Abstract: The phenomenon of the sharing economy is gaining momentum and has become a focus of analysis, debate, and study for the scientific community as well as for a range of other actors. Thus, an identifiable broader community of knowledge-based experts and practitioners is generating a 'meta-discourse' on the sharing economy. This is the point of departure for the current paper, which examines the phenomenon in depth, particularly focusing on the role that local governments can play in promoting, steering and governing this disruptive social innovation. Drawing on the input of a panel of ten experts from academia, the consultancy sector, policy-making, and business, the sharing economy is analysed and reassessed. The community's reflections on its own nature and characteristics are also reported.
Keywords: sharing economy; SE; local government; LG; knowledge-based community; sharing city; platform capitalism; platform cooperativism.
Study on carpooling applications: the development of sharing economy in the age of internet
by Ruhet Genç
Abstract: Globalisation and the development of technology lead to the emergence of different economic practices. Among these, sharing economy receives considerable attention, as people communicate with each other and propose themselves plausible offers, which make both parties better off. Moreover, recent findings suggest that especially young generations start to use carpooling applications when they want to travel from one destination to the other. However, the activity of carpooling has not been sufficiently taken into consideration in the context of scientific inquiry. This paper intends to investigate the impact of carpooling activity as a form of sharing economy. After providing an introduction about the concept of sharing economy, the study will discuss the importance of technological advancements for the development of carpooling activity. Finally, the manuscript will suggest a model in which total revenues, quality of life of passengers and drivers and technological progress will be considered in order to measure the impact of carpooling activity. In conclusion, the paper will show that carpooling activity is beneficial not only for the financial well-being of individuals who take part in, but it also increases the overall satisfaction of travellers.
Keywords: sharing economy; carpool; technology; quality of life.
Collaborative tourism in Europe: the role of travel motivations on new platforms and information sources
by Arminda Almeida-Santana, Sergio Moreno-Gil, José Boza-Chirino
Abstract: The sharing economy has emerged as an alternative of suppliers of goods and services traditionally provided by long-established industries. Since its inception, the tourism industry has presented itself as one of the sectors that has allowed it to keep growing and in which the sharing economy has had a greater impact. Thus, this study analyses 'collaborative tourism' (the sharing economy in tourism) and the use of other information sources (comparators, social media) and explores the profile and behaviour of tourists who participate in it (socio-demographic characteristics, nationalities and travel motivations). The paper also identifies the differences between the profile of tourists who use different kinds of collaborative platforms (Airbnb, HomeAway, TripAdvisor, Wikipedia, Coachsurfing and BlaBlaCar), differentiating between platforms where an economic transaction is required and those that are free. The results indicate the existence of a grouping together of cultures (countries) in four segments, depending on the use they do of sharing economy platforms. Applying a comprehensive analysis with 9,383 tourists from 19 European countries, the study provides interesting conclusions for destinations with a view to better designing marketing activities across different European countries.
Keywords: sharing economy; collaborative tourism; motivations; Europe.
New trends in collaborative economy in tourism. Diversification of traditional accommodation to a non-regulated offer in Spain
by Ana Mandri Álvarez
Abstract: The new models of shared economy that are being introduced in Spain are generating a significant impact, on the tourism sector. The new model of sharing what is deprecated is causing important destruction to the tourist market. This rises a concern by traditional agents and neighbours, showing their displeasure to the new platforms of timeshare homes for rent. So, given good relations with one another, a definition is required, which is built on the basis of this new phenomenon.
Keywords: collaborative tourism; collaborative; accommodation; regulation; platforms; business; sharing economy; houses of tourist use; hotels; services; economy; Spain.
Sharing economy in the German energy transition
by Ingela Tietze
Abstract: Several definitions for the term 'sharing economy' exist. Depending on the extent of consideration of the typical characteristics of a sharing economy, energy cooperatives with renewable energy capacities are part of the sharing economy. Based on an extensive literature review, this paper analyses those characteristics of the energy sector that boost or impede its alignment with the tenets of a sharing economy. Major constraints are that both electricity and heat cannot themselves be shared, and constitute low-interest products. In electricity supply, the common access to electricity grid, the transition of the energy systems towards renewable systems, amongst others, make up the principal drivers. A comparative analysis of two energy cooperatives in Germany is carried out to support analyses. Conclusions drawn depict the future role of community ownership in the energy sector.
Keywords: renewable energy; energy transition; collaborative consumption; electricity; Germany; Energiewende; sharing economy; community ownership; energy cooperative.
Trust in the sharing economy: exploring the perceptions of Airbnb consumers
by Rui Costa, Patrícia Faria, Andreia Vitória
Abstract: The expansion of the tourism sector has led to the expansion of unconventional travel trends and the emergence of new forms of business. One of these new forms of business is the sharing economy and the peer-to-peer platforms are the fact that tourists organise their travels without the need for intermediation services. This research presents results from an in depth study focused on a new trend of asset sharing, which has grown exponentially in recent years and addresses the topic of how trust is established and sustained in the sharing economy, specifically in the Airbnb platform, from the consumers perspective. The data was collected through a questionnaire, which remained available in the internet from October to November 2016. A total of 263 valid questionnaires were obtained. The main results of this study indicate that the precision and consistency of the information, the ranking of the accommodation, and the information presented in the online comments are determining factors for the trust in Airbnb platform and for the consumer's decision.
Keywords: sharing economy; trust; Airbnb; consumer's perceptions; Portugal.
The 'soft' and 'hard' sides of the sharing economy: a discussion of marketing, financial and socio-cultural aspects
by Yioula Melanthiou, Loukia Evripidou, Epaminondas Epaminonda, Marcos Komodromos
Abstract: This paper discusses three aspects of the sharing economy: the marketing aspect, the financial aspect, and the socio-cultural aspect. The discussion of the marketing aspect suggests that mindful consumption and advances in technology have made sharing economy possible and increasingly popular. This has modified consumption patterns, particularly in the tourism industry, and has changed traditional marketing channels. It is further suggested, that the increasing prevalence of sharing economy practices is directly linked to increases in revenue and improvements in customer welfare and job creation. Moreover, socio-cultural characteristics of societies have also been linked to the provision and use of sharing economy. More specifically, attitudes towards innovation, sharing, trust and environmental sensitivity have been identified as socio-cultural factors that are expected to influence the provision of sharing economy services, and individualism-collectivism, uncertainty avoidance, power distance and the internet appear to be key behaviour determinant variables.
Keywords: sharing economy; marketing; socio-cultural; financial; changes; innovation; collaborative consumption; digital revolution.
Special Issue on: Economic Growth and Sustainable Development
Fama-French Five-Factor Asset Pricing Model: Empirical Evidence from Indian Stock Market
by Vanita Tripathi, Pardeep Singh
Abstract: The present study examines the applicability of five-factor model of Fama French (2015). This model considers five factors namely market, size, value, profitability and investment in explaining the cross-sectional variations variations i.e. variations across different stock or portfolios in the equity returns in Indian stock markets using the monthly closing price data of a sample of 486 companies which are a part of CNX 500 Index over the period from July 2000 to June 2015. The paper investigates whether including any or all of the additional four factors can better explain the cross-sectional variations than the single factor capital assets pricing model. The investment strategies based on size, value and profitability provided abnormal returns over the study period. By making use of the Davis, Fama, & French (2000) methodology we find that Fama-French five factor model based on market premium, size premium, value premium, profitability premium and investment premium explains the variations in the equity returns better than single factor capital assets pricing model but it does not increase the Adjusted R2 significantly. The results have implications for asset pricing, market efficiency and investment strategies in the Indian stock market.
Keywords: Fama –French five factor model; five factor model; Four factor model; Three factor model; market Model; Size Effect; Value Effect; Profitability Effect; Investment Effect; CAPM; Asset Pricing.
Economic and Demographic Effects of Monetary Policy Instruments on Growth
by Dominic Azuh, Uchechukwu Okorie, Obindah Gershon, Akunna Azuh, Oluwatoyin Matthew
Abstract: Using vector error correction model (VECM), the paper answers two questions: Is there a long-run relationship between monetary policy instruments and economic growth? What is the nature of the relationship and what other factors influence it? Results of Johansen and Juselius multivariate co-integration procedure suggests a long run equilibrium relationship between monetary policy rates, money supply; cash reserve ratio, financial development and economic growth. Increased Monetary Policy Rate (MPR) in one period contracts economic growth ceteris paribus. It is found, however, that due to demographic factors and existence of informal sector, monetary policy instruments are less effective. It is recommended that concerted effort be made towards effective allocation of credits to economic activities linked directly to the productive base of the economy for sustainable economic growth. In addition, concessionary tax instruments and incentives - like holidays and credits - for emerging SMEs are recommended. Given additional demographic data, it will be interesting to show how the results relate to the size of the informal sector and the population. This opens up the discourse and justifies the need for further empirical analysis of this issue.
Keywords: Demography; Economic Growth; Monetary Policy Instrument; Informal Sector; Nigeria.
Special Issue on: Disruption as a Driver of Change
eLearning on Social Network Sites: a Disruption of Learning Management Systems from Thai Students Perspectives
by Poonsri Vate-U-Lan
Abstract: The purpose of this paper was to examine the attitudes of Thai higher education students towards eLearning incorporating social network sites using an online self-administered survey and standard statistical analysis. This online survey resulted in 389 valid responses. It confirmed that Facebook was the most popular among social network sites. The average score of the attitude towards using eLearning on social network sites was positive. The research found a statistically significant difference in the attitudes of both genders with the Thai males scoring higher than the Thai females though both were positive. There was a statistically significant difference in attitude for participants who had varied experiences using eLearning. Participants who were experienced in both formal and informal eLearning formats showed a more positive attitude towards eLearning on social network sites as opposed to participants who used either formal or informal eLearning formats only. The results of this research shed light on a disruption to learning management systems in the era of social networking with implications beyond Thailand.
Keywords: Attitude; Facebook; Learning Management Systems (LMSs); eLearning; Social Network.
Institutional changes in the tobacco sector
by Ingridi Bortolaso, Felipe Zarpelon, Rejane Alievi
Abstract: The reference base the theoretical aspect of the institutional work, contemporaneously used in analysis of interorganizational relations. From this perspective, the proposal is to analyze the capacity of external agents to provoke changes in the institutional context of controversial industries. Thus, the object of analysis used was the Brazilian tobacco sector. The Zietsma and Lawrence Cyclic Model was used in the research to identify how external pressures have led to measures to eradicate child labor in tobacco cultivation. The results of the survey demonstrate the actions that were taken by tobacco companies and the difficulties faced to eliminate the use of child labor by farmers who grow tobacco.
Keywords: Institutional Work; Capacity of external agents; Brazilian Tobacco Sector.
FINANCIAL TECHNOLOGIES AS A DRIVING FORCE FOR BUSINESS MODEL TRANSFORMATION IN THE BANKING SECTOR
by Yuliya Nichkasova, Galina Shmarlovskaya
Abstract: The article examines the latest trends in the development of the banking sector under the influence of financial technologies. Adopting systematic and historical methods of research, the dialectic of two typological structures of financial ties is considered. The interaction of distributed network structures with equal subjects of economic activity and hierarchical institutional structures with state participation is explored. It is revealed that with the development of innovations and financial technologies, the use of distributed network channels is increasing.
The conclusion is made that there are potentially two strategic approaches for the development of banks: evolutionary and revolutionary, involving in the first case the transformation of their classical business model into a technology company, and in the second, full absorption by alternative distributed services, based on block technologies and consumer power.
Keywords: financial networking; banking business model; financial technologies; neo-banks; digitalisation; digital analytics platform; the era of analytics; blockchain technology; transformation; crowdfunding; Kazakhstan.
Special Issue on: Entrepreneurial Ecosystems Issues, Trends and Challenges
Celebrity Entrepreneurship and Advertising Effectiveness: An Empirical Test
by Jugal Kishor
Abstract: Entrepreneurs are considered to be important stimulus for economic and social growth of any country. For instance, every developing economy is promoting the startup concept to mark their edge in the world economy. All though many attributes like creativity, risk, and innovation have been associated with entrepreneurs. In country like India Entrepreneurship can be promoted as tool for income generation and employment. Entrepreneurship refers to carrying out of new venture to be called Enterprise and the individual whose role is to run the venture is to be called Entrepreneurs. Celebrity advertising is popular communication strategy for entrepreneurship promotion. This paper elucidates the role of advertising in entrepreneurship promotion. This research proposes so that source thought and advertisement thought positively propel the consumers attitude against advertisement, attitude against brand and attitude against buying decision. The findings assert that the source thought and advertisement thought affects impact on consumers attitude for advertisement, attitude for purchase intention and attitude for brand.
Keywords: Entrepreneurship Promotion; Source Thought; Advertisement Thought; Advertising Effectiveness; Entrepreneurship; India.
A CONCEPTUAL FRAMEWORK FOR ENTREPRENEURIAL ORIENTATION: IS PHILANTHROPY MISSING IN FAMILY BUSINESS?
by Omvir Gautam, Pooja Agrawal, Dipti Sharma
Abstract: The purpose of this study is to explore conceptual knowledge of entrepreneurial orientation by examining the moderating impact of family support. Theoretical model explains the importance and utility of an entrepreneurial orientation in the context of a family business. This study identifies ten dimensions in context to entrepreneurial orientation such as entrepreneur career, the transformation assimilation, entrepreneurial knowledge, innovation and idea generation, funds availability, entrepreneurial optimism, risk taking ability and recognize social and economic support by encompassing a moderating variable like family support. Based on the available literature from past studies in this paper a conceptual framework has been constructed with ten major arguments (prepositions). This study significantly contributes in the form of a conceptual model of entrepreneurial orientation with philanthropic concern by entrepreneurs. Further, it explores the family support as an important moderator determinants to family business.
Keywords: Entrepreneurship Orientation; Family Business; Philanthropy; Optimism; Family Support.
Linking Sustainable Development to Startup Ecosystem in India A Conceptual Framework
by Bharat Chillakuri, Sita Vanka, Ramanajaneyulu Mogili
Abstract: Entrepreneurship and innovation are the engines of economic growth and the societal progress (Allen, 2009). Experience evidence that entrepreneurial drive by itself cannot deliver sustainable economic growth and hence, requires the support of an ecosystem that is sustainable and scalable (Bala Subrahmanya, 2015). Although the impetus for the mushrooming of several startups across the world and India, in particular, was provided by the respective governments, it was only in the last decade that an increased number of enterprises took shape. As per the NASSCOM Report, there are more than 5000 startups at a net growth of 7% year on year (NASSCOM, 2017). India is home to the third largest startup base and is just behind U.S and UK. In spite of the considerable advances and breakthroughs in the growth of startups, the number of startups that have attained the status of Unicorns is not so encouraging and thus, the need for a sustainable ecosystem assumes significance. The 2017 Global Startup Ecosystem Report indicates that several Indian startups struggle for survival, shifting the focus from quantity to quality. A renewed focus on the recent advances and the forces that underpin the startup ecosystem in India attained prominence. Literature also evidences that the development of an ecosystem is a continuous process with the support of many players that will occur over a period. Against this background, the paper underscores the need for linking sustainability to the startup ecosystem and proposes a framework with the help of triple bottom line approach to sustainable development, forcing organizations to build a sustainable business strategy to convert these startups as Soonicorns in the near future.
Keywords: Entrepreneurship; Startups; Ecosystem; Sustainable Development; India.
Awareness, Entrepreneurial Event Theory and Theory of Planned Behaviour as antecedents of Student Entrepreneurial Intentions: An Indian Perspective
by Mihir Joshi, Geeta Joshi, Swati Pathak
Abstract: The studies concerning the evaluation of entrepreneurial theories across Indian subcontinent are scarce. Current study evaluates the theory of Planned Behavior, Entrepreneurial event Theory and their relationship to entrepreneurial intentions in Indian context. 200 students from selected Northern Indian Universities were covered for the present research. Awareness related to the skill based initiatives taken and Startup platform developed by the Indian government was also included as one of the antecedents in the study. The t-tests statistics show no significant difference in the entrepreneurial intentions of the male and female groups. The results of the study show a significant influence of the components perceived desirability, perceived feasibility and awareness on the intentions. The antecedents of the theory of planned behavior also show a significant positive impact on the entrepreneurial intentions of University students. CFA was applied to test the measurement models for both the EET and TPB theories.
Keywords: Awareness; TPB; EET; Entrepreneurial Intentions; Startups; CFA; Perceived Feasibility; Perceived Desirability; Perceived Social Norms; Attitude.
Psychological Empowerment and Entrepreneurship: Insights from Indian Corporate
by Ruby Sengar, Narendra Singh Chaudhary, Smriti Pande, Santosh Rangnekar
Abstract: The present study has tried to explore the impact of psychological empowerment on entrepreneurship and attempted to fill underlying research gap especially in the Indian corporates. A theoretical model is developed that highlights the relationship between psychological empowerment and entrepreneurship. The results depict that psychological empowerment is a strong predictor of the entrepreneurial behaviour of the employees working in Indian corporates. All the four cognitions are found to be positively and significantly associated with entrepreneurial behaviour. The authors have suggested the various ways which can help in enhancing the entrepreneurial behaviour among the workforce of the organisation.
Keywords: Corporate Entrepreneurship,Psychological Empowerment,Competence,Self- Determination,Entrepreneurial Behavior,Cognition.
Impact of Digitisation on Entrepreneurial Ecosystems: An Indian Perspective
by Anushree Tandon, Ashish Gupta, Puja Goel, Vinod Kumar Singh
Abstract: The development of Indias start-up base has been the subject of much discussion due to its anticipated ramifications on the entire economy. But this development is coupled with maturity in entrepreneurial ecosystem, which in itself is largely being driven by technology and innovation (Nasscom, 2016). The objective of this paper is to study the impact of digitization on the entrepreneurial ecosystem in India, coupled with the rise of digital entrepreneurs especially, in context of start-ups. This paper is divided into different sections that focus on understanding Entrepreneurial and Digital Ecosystems and the emergence of the intersecting field of Digital Entrepreneurship. The later sections discuss in detail about Indias entrepreneurial ecosystem, specifically Government support and attempt to draw implications for Indian entrepreneurs who are hoping to build successful technology based start-ups.
Keywords: Entrepreneurship; Eco-system; Start-ups; Technology; Digitisation; India.
Special Issue on: IMC 2017 Internationalisation of Family Business Firms
Born global family firms: a multiple case study
by Barbara Francioni, Fabio Musso, Giorgia Masili
Abstract: The principal aim of this study is to examine the factors that most influence the internationalisation process of born global family firms. To achieve this goal, we considered two main frameworks adopted in previous literature, which analysed specific factors and characteristics. Then, through a multiple case study, we verified if these factors and characteristics can enable or limit the internationalisation process of born global family firms.
Our findings provided a significant confirmation for many of the factors considered, especially those related to the characteristics of top management. However, with reference to the analysis schemes adopted, not all the factors and characteristics considered resulted to be significant. Moreover, the proposed classifications did not prove to be completely suitable for interpreting the phenomena analysed. For this reason, a new framework, which summarizes and reorganizes the characteristics and factors to be analysed, has been developed.
Keywords: Born global; family firms; internationalization; SMEs.
Internationalisation of Family Enterprises: The Role of Entrepreneurial Orientation and International Growth Orientation
by Lasse Torkkeli, Maria Uzhegova, Olli Kuivalainen, Sami Saarenketo, Kaisu Puumalainen
Abstract: The determinants of foreign market entry and success among family-controlled small- and medium-sized enterprises (SMEs) have not received much attention in research, and especially the role of strategic orientations noted crucial in international entrepreneurship, is still unclear in the family business context. In this study, we respond to these omissions by examining a sample of 169 family-controlled Finnish SMEs across five industry sectors. The data are analysed via binary logistic and linear regression modelling. The results find that the internationalisation propensity and degree of internationalisation among the family businesses are impacted by higher levels of international growth orientation. Innovativeness explains the likelihood of having international operations, but otherwise, entrepreneurial orientation does not impact the internationalisation outcomes. International growth orientation is found to not determine the international performance of the companies. We discuss the theoretical and managerial implications of the results, which contribute to the literature on family businesses and international entrepreneurship.
Keywords: family business; SME internationalisation; international entrepreneurship; strategic orientation.
Reliance: A success story in International Refinery Sector
by Sarika Lohana
Abstract: This case study highlights the success story of Reliance Industries Ltd, how Legendary Dhirubhai Ambani managed to transform his dream into practice through insistence and hard work. He incorporated Reliance Industries Ltd. With Mynylon Ltd. on 8th May 1973. Manufacture synthetic blended yarns and fabrics, polyester filament yarn, polyester glass shells and colour TV picture tubes. In the Span of 25 years the company could export to more than 100 countries. Recently company was marked in to Global Top 10 club with a ranking of 8 in the 2016 Platts Top 250 Global Energy Company Rankings. The success story of Reliance Industries Ltd. in Refinery sector serves as a source for imitation for those who in to business and planning to expand their operations internationally as it illustrates real-world practices played by Reliance Industries Ltd. to meet international challenges.
Keywords: Refinery Sector,International Business; Reliance Industries Ltd.
What Encourages The Indian Family Small and Medium Enterprises to Internationalise?
by Arpan Anand, Navdeep Kaur
Abstract: The present study tries to discover the motivations behind internationalisation of the Indian Family Small and Medium enterprises (IFSMEs) and explore whether these enterprises are searching for resources, advanced technologies, strategic assets, revenue benefits, improved efficiency or the new markets etc. Internationalisation by IFSMEs has substantially amplified in the recent years. The amplification in the degree of internationalisation requires examination of various factors that have made IFSMEs internationalise. The empirical analysis is done on the sample of 400 IFSMEs using a structured questionnaire. The findings of this study provides evidence of the existence of various factors behind the internationalisation of IFSMEs. These enterprises are found to be inclined towards internationalisation in search of resources, technology, efficiency improvement etc. whereas exploring for new markets factor was reasonably weak referring to the empirical analysis. This analysis of IFSMEs multinationals have some observable implications. The existence of several factors infers that IFSMEs can fetch many benefits to the Indian economy. Also the Indian Family firms those are not very frequent in internationalisation, can focus on the key factors which will encourage them to internationalise with more focused efforts.
Keywords: Family Enterprises; SMEs; IFSME; Internationalisation; Technology; India; Family Business; RBV; Market Orientation.
Special Issue on: BAASANA 2018 Research on Business and Globalisation in Vietnam An Interdisciplinary Issue
Entrepreneurial Attitude Orientations and Entrepreneurial Intention of Vietnamese Adults: the Moderating Role of Sources of Capital
by Quang Long Tran, Ha Minh Quan Tran
Abstract: Entrepreneurship has drawn a great deal of attention and become the topic of discussion among government leaders, academic scholars, business practitioners, and the like, in Vietnam, an emerging economy in Southeast Asia. This study examines the impacts of Entrepreneurial Attitude Orientations (EAO) on Entrepreneurial Intention (EI) of Vietnamese Adults. It also investigates the moderating role of sources of capital on the relationship between EAO and EI. Using the EAO instrument including Achievement, Self-Esteem, Innovation, and Personal Control developed by Robinson, Stimpson, Huefner, and Hunt (1991) and the EI instrument developed by Linan and Chen (2009), the authors surveyed 337 Vietnamese adults and found some significant results. Achievement, Self-Esteem, and Innovation were found to have significant impacts on EI. In addition, sources of capital including savings, borrowing and sharing were found to be moderating the relationship between EAO and EI.
Keywords: Entrepreneurial Attitude Orientations; Entrepreneurial Intention; Moderating Role; Sources of Capital; Vietnam.
Corporate governance and financial misstatement: Evidence from Vietnam
by Kien Cao, Thao Tran, Thuy Nguyen
Abstract: This study examines the influence of corporate governance on the likelihood of financial misstatement in Vietnam. Given the unique setting in Vietnam, financial misstatement information is manually collected from income statement figures in the reporting period between the pre-audit/pre-review date and post-audit/post-review date. The results indicate that, among various corporate governance variables, only ownership structure influences the likelihood of financial misstatement in Vietnam. Specifically, the state ownership has a positive impact and the foreign ownership has a negative impact on the likelihood of financial misstatement. The results indicate that, in a weak corporate governance structure, the participation of foreign investors has a huge impact in controlling the correctness of financial statements.
Keywords: Corporate governance; ownership structure; financial misstatement.
THE IMPACTS OF MONEY POLICY ON GROWTH AND INFLATION IN VIETNAM:RESULTS FROM THE VAR MODEL
by Hoang Thanh Tung, Nguyen Thi Van Anh
Abstract: In the article, the authors use the VAR self-regression vector model to examine the impact of monetary policy in Vietnam in the period 2005-2017. This is a period when the Vietnamese economy was challenged by the financial crisis that started in the US in 2008 and the European public debt crisis in 2010 caused a slowdown in world economic growth. However, with appropriate management policies, Vietnam has gradually escaped from the economic crisis. Based on empirical research using the VAR model, we will examine the influence of monetary policy on growth and inflation in Vietnam in the period 2008-2017. The results show that, when applying broad monetary policy, interest rates will reduce, the currency devalues in the first quarter in accordance with the theory. CPI remained unchanged in the first quarter then rose in the next quarter, output declined slightly in the first quarter and then rose in the next quarter, then reversed and fluctuated little, which may be explained by the delay in policy enforcement. The model results also confirm that past inflation plays an important role in determining inflation in Vietnam. Therefore, the Government and the State Bank of Vietnam need to maintain the target of inflation control, thus contributing to macroeconomic stability and rational growth support.
Keywords: monetary policy; economic growth; inflation; credit; money supply.
DOES LOWERING ENTRY COSTS COUNTER THE PERSISTENCE OF ZOMBIE FIRMS?
by Anh Nguyen Thi Tuong, Hung Doan Quang, Nam Vu Hoang, Tuan Bui Anh
Abstract: How to deal with zombie firms, which are inefficient but still surviving, is an important question that needs to be addressed by all countries. Should direct government intervention as having been observed in Japan be the only answer to this question? Using longitudinal data from annual enterprise census surveys and data on business environment of provinces in Vietnam, a transition economy, from 2004 to 2012 we examine diversified effects of entry costs on the persistence of being zombies in different industries. The analysis reveals that state and foreign ownership has positive and significant effects on immediate and medium-term persistence of being zombie firms in manufacturing industries but not in non-manufacturing industries. Reducing entry costs to facilitate competition in the local markets is a key to drive out the persistence of being zombie firms owned by the state and by the foreigners in manufacturing industries.
Keywords: zombie firms; entry costs; ownership; Vietnam.
Special Issue on: MSBFC 2018 Financial Sector Reforms, Financial Openness and Financial Integration
Before-After effect of GST on the Sales and Profitability A study of top BSE companies in India
by Pawan Kumar, Jasdeep Singh Walia, Gagandeep Singh
Abstract: With the rollout of Goods and Service Tax (GST) in India w.e.f. July 1, 2017, the hope of Indias most significant fiscal reform one nation, one market, one tax has regained the momentum. The purpose of this paper is to check the immediate impact of this historic tax reform on the sales and profitability of top 80 BSE listed companies with highest market capitalization. Using secondary data as a base, the Q1 (ended June, 30) and Q2 (ended September, 30) financial results, i.e., before GST and after GST have been examined using paired sample t-test and comparative analysis. The results of the study show that GST has not significantly affected the revenue but has significantly affected the after tax profits of these corporations.
Keywords: Goods and Services Tax; BSE; Market Capitalization; Sales; Profitability.
SENTIMENTS AND CHALLENGES FACED WITH DEMONETISATION IN INDIA
by Rahul Sharma, Rajesh Verma, Megha Mehta
Abstract: For citizens of India, it came with the sudden move of the Indian government to demonetise 500 and 1000-rupee currency bills during the fourth quarter of 2016. With an intention to eradicate black money, control fake currency and take India towards the era of digital payments, the Indian government announced the demonetisation move. This move had been one of the most prominent economic changes in the recent decades in India because nearly 86 per cent of the circulating currency was to be submitted into the designated financial institutions in a predefined span of time. Every class in society felt the effect of demonetisation. As demonetisation took the Indian economy through a liquidity slide, so it is important to study the sentiments of the citizens towards the economic move of demonetisation by their government. 5000 tweets each across two time periods were analysed having the hashtag of demonetisation for studying the sentiments of people using the process of sentiment analysis. In particularly an economy like India with citizens having high cash-in-hand volumes, it is also required to study the prominent challenges that the citizens faced during the process of demonetisation. Four major challenges were identified using the technique of exploratory factor analysis that were faced by the public because of demonetisation, for which the data was collected from 300 respondents.
Keywords: Demonetisation; sentiment analysis; challenges of demonetisation; India.
Effect of Decisional Factors on Mutual Funds Actual Purchase Behaviour among Indian Investors
by Deepak Pandey, Amit Kakkar, Mohd Farhan
Abstract: Indian investors have always shown interest towards savings and investment. Indian economy has shown a shift of preference of investment avenues from traditional avenues like gold and other precious metals to mutual funds. Financial sector is helping Indian economy and mutual fund has emerged as one of the fastest growing sectors. Mutual funds make saving and investment simple, accessible, and affordable. Thus, it has become imperative to study mutual funds from a different angle, which is to focus on investors perception, expectations, subjective norms and buying behaviour. This research paper is focused on number of factors that highlights investors actual purchase behaviour towards mutual funds. This study has included seasoned mutual fund investors as respondents from across India using survey method for collecting data. SPSS Amos 20 was used to analyse data using Structural Equation Modelling (SEM). Results have shown that investors subjective norms and perceived purchase risk affects purchase decision involvement. It was also found that role of information search and information processing of mutual funds has a major impact on actual purchase behaviour of an investor.
Keywords: Asset under management; Investment avenues; Mutual fund investors; Systematic investment plan; Actual purchase behaviour; Purchase decision involvement.
Performance of Commercial Banks in India: A non-parametric Malmquist Index based DEA Approach
by Kanika Sachdeva, Sivakumar Palaniswamy
Abstract: The present study evaluates the productivity and efficiency of Indian Commercial Banks in terms of productivity and efficiency. TFP Growth, technological change and technical efficiency performances have been computed using Data Envelopment Analysis (DEA) based Malmquist productivity index for the balanced panel data set of 70 commercial banks operating in India for the period from 2005 to 2017. The analysis has been carried out in two stages. In the first stage, efficiency estimation has been carried out for all the 70 commercial banks as a single group whereas, in the second stage, estimation has been carried out for all three bank category individually. The results of overall analysis shows that, 44% banks have recorded a positive change in the TFPG among all the banks during the study period, out of which 42% banks are from private banks, 29% banks belong to foreign and public sector banks each. Results from group wise analysis revealed that, 68% of private banks have recorded a positive TFPG, and technological change is found to be the primary reason for the positive change in the TFPG, whereas only 15% public sector banks and 32% foreign banks have recorded a positive TFPG. The study concludes that there is enough scope for improvement in the performance of Indian public sector banks in comparison of its counter parts in terms of technical efficiency, technological change, and total factor productivity changes.
Keywords: Data Envelopment Analysis; Commercial Banks; Malmquist Index; Technical Efficiency.
Factors affecting behavioural intentions to use e-banking services: An extension of TAM in Indian Context
by Balpreet Kaur, Rishi Raj Sharma
Abstract: Using Technology Acceptance Model (TAM) as theoretical base, an extended technology acceptance model incorporating perceived security and perceived privacy as issues of perceived risk for adoption and promotion of e-banking services is conceptualized. Structural Equation Modeling technique (SEM) was applied to analyse the causal relationship among the constructs. Results of the model indicate that in comparison to perceived privacy, perceived security is the most important determinant which helps in reducing the risk perceived by the customers in adoption of online banking services. Further, the perception of low risk affects customers behavioural intentions to accept internet banking technology as well as their intentions to spread positive word-of-mouth (WOM) about the service provider. Perceived usefulness and ease of use of the website is equally important but the perception of high risk and insecurity suppress the effectiveness of website usability. Henceforth, to promote the website, the financial institutions offering online services to their customers have to develop the mechanism that would ensure the security and privacy of financial data as well as the personal information provided by the customers.
Keywords: e-banking; e-WOM; TAM; Perceived Security; Perceived Privacy; Perceived Risk.
Special Issue on: 6th International Research Conference on Emerging Trends and Challenges in Globalised Digital Era Emerging Trends and Challenges in the Globalised Digital Era
Determinants of Customer Experience Management and Its Impact on Experience Quality in Tourism Industry in India
by Vimal Bhatt, Bhuvanesh Kumar Sharma
Abstract: The tourism sector is witnessing a growing trend and with an increase in demand for consumers desire for highest levels of customer service and a full range of travel experiences that combine first class conveyance, excellent accommodation, and location, gourmet dining, outstanding entertainment and superior relaxation. Increased share of tourism in consumer spending is leading marketing practitioners to the recognition of influence on the customer experiences and its impact on service quality. Because of rapidly evolving customer demand for overall travel services in an intensely competitive environment, it has become very important to understand, analyze and construct customer experience to provide and improve the service quality, which in turn will improve the overall customer satisfaction leading to loyalty.
This research initially employs explanatory research to investigate the customer experience management in tourism industry. Later, a conceptual framework was constructed based on the existing body of knowledge available and was tested using a survey of a judgmental sample of 600 consumers especially those who have travelled recently. Structural Equation Modelling was employed to test the proposed model.
This paper tries to critically evaluate the relationship between customer experience management practices and Experience Quality.
Keywords: Customer Experience; Experience Quality; Tourism Industry.
MOUNTING OF STRESS ON MANAGEMENT GRADUATES AND ITS EFFECT ON THEIR PERFORMANCE
by Debarun Chakraborty, Adrinil Santra, Soumya Kanti Dhara
Abstract: In both the therapeutic and academics quarters, the study of stress in human being has always been a thought provoking concern for discourse and analysis. The phrase "stress development" is inescapably intertwined with our everyday life but the exact nature of such mounting of stress on human beings is not universal in its nature. There are assortments of somato-psychological changes which are evident on the stress object. This study attempts to investigate the various behavioral, socio-cultural and economic grounds which are conducive in the process of acute stress development among the Management students.
Keywords: Stress Development; Somato-psychological Changes; Social Adjustment; Performance.
IMPACT OF ORGANIZATIONAL TRUST, COMMITMENT AND TEAM ORIENTATION ON INDUSTRIAL DISPUTES - AN EMPIRICAL STUDY ON SELECTED MANUFACTURING COMPANIES OF WEST BENGAL
by Wendrila Biswas, Debarun Chakraborty
Abstract: Purpose: This study empirically specifies that the prevailing situation of suspicion, distrust, and firefights in industries can be impaired to a greater extent through organizational trust, team orientation and ingraining a sense of fidelity, synergism among employees. Such an organizational culture makes the employees more congruous keeping a compatible aura in organizations building a culture of collectivism thereby reducing confrontations.
Design/Methodology: A descriptive research design has been carried out in this study with cross sectional survey. The paper adds the prevailing literature review generating a model for the manufacturing industries of West Bengal. Exploratory factor analysis and confirmatory factor analysis has been conducted with structural equation modeling on the proposed conceptual model. Multistage sampling has been used for conducting the study.
Findings: The prime findings of the study highlights that the aspects organizational culture is having a positive and consequential impact on industrial disputes. Organizational commitment is one the most influencing determinant which influences organizational culture. It posits the need to envisage, induce and implant an environment in organizations through these aspects in order to lessen disputation.
Research Limitations: Since the empiric paper is framed in the context West Bengal, the upshots may change when it is applied to different sector and states in the same country or different countries. The study underpins for furthermore exploration in this facet as till now a miniscule part of it has been probed into.
Managerial Implications: The study has a considerable importance because of its impact on employees as it facilitates goal alignment, motivation, degree of conflict tolerance and serves as a control mechanism. In such a way when employees internalize the values of an organization, a well knit culture sustains which contributes to a spirit of cooperation, coordination and an utmost industrial peace improving employee participation, performance and productivity.
Social Implications: The research study provides insights into the fact that the employees adopt and embed these elements in them as they derive an innate satisfaction and find these values in line with their personal values. Thus it shapes ones behavioral pattern, regulates his conduct and makes him a human being. Such an attitude keeps social relationships undefiled and make them withstand complicated situations in life without being baffled.
Originality: The survey has been conducted with employees of the manufacturing units of West Bengal. Hitherto, no such investigation has been executed in this outlook. The study provides a
forward glance in the working of functional managers who face challenges in curbing industrial unrest and fall into the stigma of organizational uproar.
Keywords: Organizational Trust; team orientation; commitment; synergism.
Story-telling in the Digital Space- A Ploy to communicate with Millennials
by Yukti Ahuja, Indu Loura
Abstract: Millennials are the most popular consumer set of the times. They are considered to be an on the go generation. Marketers have a hard time targeting them. While their interests are varied and extravagant, they are circumspect in shifting any marketing communication made to them. Unlike the other generations, Millennials frequently visit all digital platforms for searching, evaluating and deciding products and services. Hence, new techniques of enticing them emerged on these platforms; one of them being storytelling. The purpose of this study is to explore storytelling as a digital marketing strategy with special reference to Millennials. The study has been conducted in two phases; firstly with the help of a questionnaire and then by taking in-depth interviews. The work has takeaways for researchers, academicians and most importantly corporate professionals who have been deliberating on using this ploy in their communication campaigns. Findings indicate the strengths of storytelling as a communication tool on social media but also reflect upon the Millennials perception pertaining to its emotive power as well the underlying marketing intent.
Keywords: Storytelling; Millennials; brands; Digital Marketing.
Understanding the Effect of Entrepreneurial Orientation, Innovation Capability and Differentiation strategy on Firm Performance: A Study on Small and Medium Enterprises
by Deepak Kaushal, Sanjeev Kumar, Rahul Raj, Abhishek Negi
Abstract: The purpose of this study is to examine the effects of entrepreneurial orientation, innovation capability and differentiation strategy on firm performance. The study also extends the efforts to further investigate the mediating role of differentiation strategy between entrepreneurial orientation & innovative capability and firm performance. The researchers distributed 500, out of which only 296 respondents completed the survey, hence, the study recorded response rate of 59.2 percent. The findings show that entrepreneurial orientation, innovation capability and differentiation strategy have a positive impact on firm performance. Furthermore, the impacts of entrepreneurial orientation and innovation capability on differentiation strategy are also examined in this study. The findings suggest that entrepreneurial orientation and innovation capability are positively related to differentiation strategy. The analysis displays that differentiation strategy plays the mediating role amongst entrepreneurial orientation, innovation capability and SMEs performance by positively affecting the performance.
Keywords: Entrepreneurial orientation; innovation capability; differentiation strategy; SMEs performance.
Special Issue on: ICMEM 2018 Digital Innovation and Integration in Global Business Sustainability
Linear and circular supply chain: SCOR framework stages, actor analysis and the illustrative case of cassava farming
by Ruth Nattassha, Yuanita Handayati, Togar M. Simatupang
Abstract: There has been recent increasing interest in research into circular economies. The drive for industries to maintain or even augment their activity levels, while simultaneously demonstrating environmental concern represents one factor. Traditional economic frameworks process resources with waste being discarded directly into the environment, while a circular economic framework emphasizes the recycling of waste into new resources. The contrasting goals of these frameworks lead to contrasting workflows and supply chain management. This paper examines differences in supply chain models relating to each economy framework using Supply-Chain Operations Reference (SCOR) framework stages, specifically the process modelling pillar and the performance measurement pillar. The application of these models, including the behaviour of actors and the necessary changes they should implement, is subsequently analysed through the illustrative case of cassava farming.
Keywords: circular economy; supply chain management; SCOR model; cassava farming.
The Effect of International Financial Reporting Standards (IFRS) Adoption on the Earnings Management of Oil Companies which are Experiencing Oil Price Decline Shock
by Bintang Yosua Ronibasa, Sylvia Veronica Siregar
Abstract: This study analyzes impact of IFRS adoption on oil companies accrual and real earnings management considering moderation effect of world crude oil price decline shock. We study 96 oil firms or 445 fims-years on 13 countries from 2012 until 2016. Our result shows that the shock has intensified income-decreasing accrual earnings management practice because of increase on investors tolerance toward loss. However, the result suggests that firms efficiency on discretionary expenses and overproduction strategy of OPEC countries after 2014 increase real earnings management level of samples (showing decrease in income-decreasing real earnings management). This study also finds IFRS adoption has no impact on accrual and real earnings management of oil companies alleged because of political cost pressure. Finally, this study finds the shock has no moderation effect on IFRS adoption and earnings management relation.
Keywords: Earnings Management; Oil Industry; Aggressive; Oil Price Decline Shock; International Financial Reporting Standards.
Household consumption and government role in affecting society welfare in West Java, Indonesia
by Adam Julian Faturrahman, Faizah Syihab
Abstract: This study aims to explore the relationship between the society welfare and various factors that affect it. A total of 2,320 respondents are taken from various households in West Java, Indonesia from 2014-2015. This study expects to give better assessment which factors can be implemented in improving society welfare. Various variables such as the household consumption on education, investment, and government role are consistently affect the West Java society well-being, whereas the household consumption on health is not significantly affect the society welfare. This study found that having more investment, obtaining more education, and attaining proper government program, the household are likely to be more prosperous. This significant result indicates the importance of investment, education and governance programs variables in achieving societys well-being and also give significant contributions particularly to the government strategies or policy in increasing the society welfare, whereby effective decisions is very important to achieve society well-being.
Keywords: welfare; household consumption; investment; education; government program; West Java; logistic regression; IFLS.
The Level of Community Participation in Developing Tourism Sustainability: Impact of Locals Perception and Opportunity
by Salsabila Firdausia, Yuliani Dwi Lestari
Abstract: Sustainable tourism can be achieved through the support and involvement of the local community in the tourist destination. However, power domination and a lack of opportunities impede local community participation. Besides, the practice of government-centric policy in the developing countries has discriminated against locals interests. The present study aims to shed light on the degree of residents' participation by using the predicting variables of community perception of tourism benefits, costs, and opportunity. The data were gathered from a survey of 89 Lembang residents in Indonesia. Partial Least Square Structural Equation Modelling was employed. The findings suggest the impact of opportunity and community perception on the four levels of residents' participation in tourism development. Furthermore, this paper discusses several managerial implications for the local government and tourism operators, and it provides the recommendations for future research.
Keywords: Sustainable Tourism; Community Perception; Opportunity; Community Participation.
Interaction Model of Agri-business: The Case of Tomato Farming in West Java
by Liane Okdinawati, Yos Sunitiyoso, Togar M. Simatupang, Pri Hermawan, Pathmi Noerhatini, Dania Sitadewi
Abstract: The importance of the Indonesian agriculture supply chain lies in the vision of the national government with regard to food security and farmer welfare which supports the production of various healthy types of food and high value-added products utilising local resources. However, local agricultural products face certain inefficient business practices, due to the involvement of multi-layer parties in the distribution network, which serves the ultimate consumers. Previous studies involving research into agriculture only provide a partial description of both conventional agriculture and the organic agricultural supply chains. Therefore, this paper attempts to provide a comprehensive description of all agri-business parties by reproducing the agricultural product supply chain network operating under prevailing conditions in West Java Indonesia, using tomato products as a case study. This paper analyses two types of tomato agri-business, conventional and organic, in order to identify possible differences in the supply chain process and their contrasting interactions. The Value System method is examined to highlight the dynamics of the interrelationship between several participating parties.
Keywords: interaction model; value system; agri-business; agriculture; supply chain; value system; organic farming; value chain analysis.
The Effect of Political Connection and Earnings Management on Management Compensation
by Riky Rizki Junaidi, Sylvia Veronica Siregar
Abstract: This research aims to examine the direct effect of political connection and earnings management on management compensation as well indirect effect of political connection on management compensation through earnings management. There were three measures of earnings management used in this research, namely accrual, real, and aggregate earnings management. Samples of this research are non-financial companies listed in Indonesia Stock Exchange in the period of, 2014-2016 with 337 observations. We find that real earnings management has a significant positive effect to management compensation. However, there is no evidence that political connection has an influence on earnings management and political connection on management compensation. Moreover, there is no evidence on the indirect effect of political connection on management compensation through earnings management.
Keywords: Political Connection; Earnings Management; Management Compensation.
Benchmarking Singapore and Hong Kong to develop Indonesias trade facilitation
by Zamroni Salim, Nika Pranata, Kanetasya Sabilla
Abstract: The objectives of this study are to investigate the existing condition of trade facilitation in Indonesia, to do a benchmark of trade facilitation performance between Indonesia and the worlds best practices countries regarding trade facilitation of Singapore and Hong Kong, and to provide recommendations on how to fill the gaps of trade facilitation performance in Indonesia. This study used two qualitative methods which are: (1) descriptive statistics and its inference, and (2) benchmarking method developed by American Productivity & Quality Centre (APQC). The methods are used to identify the position of Indonesias trade facilitation amidst Singapore and Hong Kong. The analysis is conducted by analysing, comparing, and inferring data from various sources particularly OECD trade facilitation performance. The study found that Indonesias trade facilitation is classified as an artificial landlocked country amidst the presences of Singapore and Hong Kong. Within a short-term period of time, Indonesia must improve the overall indicators of trade facilitation compared to the countries, specifically on formalities- automation, involvement of trade community, appeal procedure, and formalities documents. To further develop its trade facilitation, Indonesia need to follow Singapores system as Indonesia has already developed its online system under INSW. As a policy recommendation, by using the more advanced information and technology and simplification on procedure and documents, having regional or bilateral trade facilitation policies would be effective and efficient way and it just take a shorter time of preferences compared to multilateral schemes.
Keywords: Trade facilitation; information and technology; benchmarking; automation.
Game Theoretic Models in Fleet Performance-Based Maintenance Contracts
by Hennie Husniah, Andriana Andriana, Bermawi Iskandar
Abstract: A fleet performance-based maintenance service contract (PB-MSC) is a maintenance service from the original equipment manufacturer (OEM) or an external service agent offering to a company who owns and uses a number of dump trucks (as a fleet) to support its business processes. The trucks are sold with two-dimensional warranty (e. g. for maximum 3 years or 150,000 km) in which a preventive maintenance (PM) is one package in the warranty. After the warranty ceases, the company is fully responsible to perform maintenance actions for the fleet. To keep a high performance of the fleet, the company can consider maintenance services offered by the OEM or an agent. We study a PB-MSC which provides some insentives to the OEM or the agent (service provider) if the performance (i.e. availability) of a fleet goes beyond the target. We consider two options of PB-MSC offered to the owner. We formulate the decision problems for the OEM (or agent) and the owner using a Stackelberg game theory formulation in which the OEM or agent acts as a leader and the owner acts as a follower. We obtain the optimal pricing structure and the optimal number of server as the optimal strategy for the agent and the optimal option for the owner, and present numerical examples to show the optimal number of fleet and server for the OEM and the optimal strategy for the owner.
Keywords: Fleet maintenance contract; two-dimensional warranty; non-cooperative games; expected profit maximization.
Performance Assessment Framework for Small and Medium Enterprise
by Subiakto Soekarno, Raden Roro Mirna Astari Magetsari, Isti Raafaldini Mirzanti, Donald Crestofel Lantu
Abstract: Small and Medium Enterprise (SME) have important and strategic roles in national economic development, such as absorbing employment and distributing economic product. SME is also proven to be able to survive in economic crisis. Unfortunately, SME is often experiencing problems that make the business is not sustainable. These problems are almost related to all management business aspects. This research intends to make a performance assessment framework for SME as guidance in making improvements as well as self-assessment and self-improvement tools. Starting from the literature review process to collect important attributes then are proposed to the expert panel in FGD. The experts choose which indicators are important and give feedback on the degree of relative importance for all indicators using AHP. The performance assessment framework for SME focus on manufacturing, service, and trading sectors. It is suitable to be used to differentiate overall performance among SME.
Keywords: Assessment tool; SME Performance; Assessment Framework.
Special Issue on: GLRC-2018 Transformation in Emerging Markets Dimensions of Growth, Competitiveness and Governance
Canvassing Competitive Advantage Through Key Dimensions of Business Model
by Heena Chauhan, Anjani Kumar Singh
Abstract: The objective of this research paper is to examine the organizational orientation towards its customers, employees, market and key partners in canvassing competitive advantage. This paper is theoretical exploration based on a literature review. The extant review of the literature was conducted using database such as EBSCO, Emerald, Inderscience, Science Direct, Sage, etc. Theoretical studies revealed that these four key dimensions of the business model have significant contribution in canvassing competitive advantage. It is found that focused approach towards these four dimensions of business model play significant role in canvassing competitive advantages. This study recommends to the practicing manager to pay attention to customer satisfaction and retention, development and satisfaction of employee, explore updated information of market trends, and maintain long term relationship with key channel partners. This study contributes in terms of developing holistic understanding towards competitive advantage through 4 key dimensions of business model. A number of researchers explored the business model with the competitive advantage but this study is focused on four key dimensions of the business model in canvassing competitive advantages.
Keywords: Customer orientation; market orientation; key partners; competitive advantage and sustainable competitive advantage.
An analysis of satisfaction of passenger services offered in premium trains in Indian Railways with reference to Northern Zone
by Atul Choudhary, Sanjeev Bansal, Anu Prashaant, Prashant Sharma
Abstract: This study aims to find the decisive factors of the passenger satisfaction in premium trains of the Northern Zone in Indian Railways. Quality of customer service in Indian Railways has a significant role on Passenger Satisfaction. Railways could draw higher economic benefits from its operations by improving its service quality. Various studies have pronounced many dimensions concerning about the Passenger satisfaction of Indian Railways. Below mentioned are the Five dimensions of Service Quality under SERVQUAL model which are taken in this research paper. Reliability, Responsiveness, Tangibility, Assurance and Empathy.
Keywords: SERVQUAL model; Northern Railways; Passengers’ satisfaction; Premium Trains; Service Quality.
Special Issue on: LIOCCKD 2018 Leadership in Organisations Contemporary Concerns and Key Developments
DIASPORA NETWORKS AS DRIVERS OF INDIAN GLOBAL TECHNOLOGY START UPs A CASE STUDY
by Sumati Varma
Abstract: This paper examines the role of the diaspora as a driver of technology start ups in the Indian context. It identifies diaspora links as sources of knowledge, learning and reputation driving domestic firms on the path of accelerated internationalisation. It thus adds to the growing literature in this area, as it develops an eclectic framework using insights from diverse streams of international business, entrepreneurship and the diasporas literature. It focuses on the discovery, evaluation and exploitation of entrepreneurial opportunities in the context of the Indian IT sector through a case study of five Indian technology start ups and the role of the diaspora in their emergence as global start ups as leaders of SME internationalisation.rnThe paper contributes to the literature on international start ups and their eco systems, developing a leadership model for international startups that could be emulated elsewhere.rn
Keywords: Diaspora; Entrepreneurship; Global Technology Start ups; India; IT.
Use of Timeline Interview method for research in the area of Leadership: A Multi-method approach
by Sadhna Dash, Snigdha Pattnaik
Abstract: Leadership studies have become fashionable. The exponential and multifaceted nature of transformation taking place in todays organisation, are impacting every aspect of its management. And these changes demand newer forms of leadership that highlight the context, the pace and the nature of change. And, leadership research becomes particularly significant since, leadership is what makes things happen. Leadership research that provides a holistic picture of how leadership agendas are shaped and enacted by individual in a complex, uncertain and volatile environment would be insightful. This paper explores leadership research, proposing a multi-method qualitative approach to leadership inquiry. The method would enable researcher to capture the nuances of building critical leadership competencies in a high-risk environment by examining the individuals chronological world-view of their professional careers as leaders. A visual timeline interview method is recommended for more vigorous findings. This approach would significantly improve contextualisation of the narratives exchanged, and support the needed triangulation of findings.
Keywords: multi-method; qualitative methods; leadership; timeline interviews; timeline mapping; visual methods; leadership studies.
A PERCEPTUAL STUDY ON POST ACQUISTIONS LEADERSHIP DISRUPTION ON HUMAN RESOURCE FACTORS
by Bhupesh Malhotra
Abstract: It starts with the leader, it moves on to management and then to the last leg of the organization, when it comes to any major development in the organization. The leader should be able to envision the future and take along the organization in the right direction making it successful. In today
Keywords: Leadership; Transformation; Merger & Acquisitions; HR practices; HR Issues; HR Policies; HR Outcomes.
Nature of Leader Member Exchange Model in Territoriality and Organisational Politics
by Parul Yadav, Urvashi Sharma
Abstract: Leadership theories have been widely researched and a number of elements have been studied in different contexts. This study examines Leader Member Exchange (LMX) Model in relation to scarcity of resources which is pervasive across organisations. The LMX model leads to exchanges of such valuable resources between the leader and the follower. LMX relationships have a mediating affect between the scarce resources and territoriality. Scarce resources are one of the factors that lead to organisation politics. If territoriality is viewed as a source of power and influence it shall aggravate the political behaviour resulting in emergence of political tactics. These tactics are used by the members in the organisation to change the leadership style in an organisation.
Keywords: LMX theory; Territoriality; Organisational Politics; Political Tactics.
Study of Role of Business Strategy on Competencies and Human Capital- Indian Context
by Yogesh Misra, Vandna Sharma
Abstract: The personal competencies and the human capital of their employees is used by organisations to convert business strategy into results leading to their competitiveness. This paper aims to assess whether business strategy impacts employee competencies and whether employee competencies in turn impact the human capital in terms of value and uniqueness. This is assessed empirically using responses from 334 senior H.R. professionals in India. The findings from Structural Equation Modelling (SEM) reveal that Prospector strategy is positively related to three competency, Adaptability, Customer Orientation and Innovation while Defender strategy is positively related to two competency, Result Orientation and Technical Expertise. Adaptability, Customer orientation and innovation competency are positively related to Human Capital Uniqueness while Result Orientation and Technical Orientation competency are positively related to Human Capital Value. Our study supports the contingent view of competency implying that H.R managers should choose their competency framework depending upon the business strategy and requirement of Human Capital and recruit, train employees accordingly.
Keywords: Business Strategy,Employee Competency; Resource Based View; Human Capital; Leadership.
Leadership in the Digital Age: Emerging Paradigms and Challenges
by Shilpa Kabra Maheshwari, Jaya Yadav
Abstract: The digital age is an era of disruption and is rapidly transforming the environments we work in. This brings about great challenges for leaders of organisations who now have to deal with disruptive business landscapes, changing workforce as well as new ways of working. Thus leaders of the digital age need new skills, abilities and a different way of thinking. This calls for fundamental changes in the way leaders lead and are developed. Traditional leadership models may be inadequate to prepare our future leaders for the digital age. Moreover, research in the area of the interrelatedness of digital and leadership is scarce. Based on the literature review, practitioner experience and critical analysis this conceptual paper explores the changing paradigms related to leadership style and competencies in the digital age. A new perspective on digital leadership will help practitioners better select and develop digital leaders within their organisations.
Keywords: Digital; Leadership; Digital Leadership; Digital Leadership Competencies.
The Role of Leadership in Developing A Strong Employer Brand
by Sonal Jain
Abstract: Organisations today have their task cut out in the form of attracting talented employees, engaging them and retaining them in the process. Through this study, the researcher studied the construct of employer branding and appropriated the various factors which constitute employer branding. Further, the study also made an important contribution by linking the role of leadership in the development of a strong employer brand of an organization.
This research extracted five important factors of employer branding viz., Organisational Fit, Perceived Organisational Reputation, Leadership and Transparency, Strong Management, and Work Atmosphere. Each factor contributes immensely to the construct of employer branding and the effective understanding of each one of them can be very useful for an organization to create an impactful employer brand in the era of start-ups, social media revolution and internet communication.
Keywords: Employer Branding; Leadership; Exploratory Factor Analysis; Confirmatory Factor Analysis; Intention to Stay.
A CONCEPTUAL DEVELOPMENT OF SPIRITUAL LEADERSHIP MODEL
by Shikha Makkar, Ajay Singh
Abstract: A model of spiritual leadership is developed to build a vision of inclusiveness, self-less service, awareness, meaningfulness, and connectedness across all levels of an organization to foster higher levels of individual, group and organizational commitment, performance, and productivity at work. First, the need for spiritual leadership is introduced. Next, the essence of spiritual leadership is examined through the review of the literature, to identify the essentials and effectiveness of spiritual leadership at work. Interview-based qualitative research along with a review of literature is used to develop a generic definition of spiritual leadership, the essentials that contribute towards the ethos behind it and study its consequences. Finally, a conceptual model is proposed to study the antecedents and consequences of spiritual leadership at all levels in an organization. The study concludes with findings and recommendations.
Keywords: SPIRITUAL LEADERSHIP; MEANINGFULNESS; VISION; WORK LIFE BALANCE; organization commitment; organization productivity; performance; group synergy; vasudev kutumbhkam.
Special Issue on: ICABM 2018 Modern Management Practices for Sustainability
Articulating Business Model Innovation, Digital Transformation and Managed Services: Case of Digital Transformation as a Service
by Ramamurthy Venkatesh, Tarun Kumar Singhal
Abstract: Business model innovation, digital transformation and challenges in service business model settings are very highly debated, yet the linkages between these contexts are not well articulated by the current literature. This study is a qualitative investigation of academic and industry insights as an attempt to articulate the relations between these three contexts. Based on comprehensive literature review and qualitative arguments, we deduce five propositions as an overlay of business model canvas components. Extending these propositions, Digital Transformation as a Service is examined as an opportunity for managed services providers. We further argue with the support of publicly available industry reports from select communication services provider in Middle East region that are actively pursuing digital transformation as a service. Contribution of this study is twofold first, it is an articulated perspective of business model innovation, digital transformation and managed service as a whole and it is first of its kind. This holistic viewpoint shall serve as a tactical tool to understand and manage critical business innovation and digital transformation challenges. Secondly, this study reaffirms the fact how digital services required for digital transformation can be made as revenue generating value proposition, especially by communication services and digital services providers.
Keywords: Business Model innovation; Business Transformation; Digital Transformation; Digital Services; Managed Services.
A study on the Impact of Demonetisation on Cryptocurrency in India
by Krishna Iyer, Ravikumar VV
Abstract: Unaccounted wealth (UW) is a large unsolved problem in many developing countries including India. Several attempts have been made to address it. One such attempt was the demonetisation exercise in India in November 2016. Even as measures are taken to tackle UW, criminal actors identify new ways to avoid detection and continue their illicit activities. Cryptocurrencies are emerging as an alternative channel for funds flow for illicit activities as it bypasses formal channels with their well-set regulations. This article examines evidence of change in use of cryptocurrencies in India in the context of demonetisation. This is done by examining four data sets viz. keyword search for Bitcoin cryptocurrency (BTC), volume of BTC traded in India, price variation between USD/BTC/INR and BTC Blockchain transaction dataset. The data indicates that there is evidence of heightened awareness of cryptocurrency, increase in volume traded and increase in price spread between BTC/USD and BTC/INR in recent years though unable to discern specific deviation in Blockchain records pointing to India led transactions. The increasing usage trend for cryptocurrency in India combined with inability to regulate and monitor illicit transactions supports the nascent move by Government of India to ban its usage till the technology and its implications are better understood.
Keywords: Blockchain; Black Money; Parallel Economy; Unaccounted Wealth; Demonetisation; Bitcoin; Analytics; Cryptocurrency.
Role of Citizens Engagement in Sustaining Citizens Participation in Governance
by Shubhanshu Naik, Poornima Tapas
Abstract: As per literature citizens engagement and participation are key constituents of citizens' satisfaction and trust. In order to ensure sustainable citizens participation in governance, both political parties and government make multiple efforts. Study was conducted to investigate the relevance of citizens (civic) engagement in shaping citizens participation in governance in India. Based on literature review, authors found that there is a dearth of research which studies citizens participation with consumer centric approach. Study findings recommend that in order to remain sustainable for both, campaign and political parties, they should raise citizens' engagement. This would help not only to create a loyal pool of citizens (voters) but will also stimulate citizens participation and turnout. Findings also propose that political players should design innovative ways of political engagement using tools of integrated marketing communication. Findings of this study may act as a feedback mechanism for raising maximum citizens participation.
Keywords: Citizens’ Engagement; Citizens’ Participation; Sustainable; Governance; Political Parties; Government; Civic Engagement; Political Knowledge;Citizens satisfaction; Citizens trust.
Literature review of service quality concepts, models and scales.
by Sandeep Prabhu
Abstract: This research is a literature review of service quality concepts, models, and their organisation based on service quality measurement scales and operationalization techniques. Services marketing literature is reviewed from 1938 to 2018; important service quality concepts & models are classified into major groups for better understanding of service quality measurement scales and operationalization techniques. The study identified five important developments in the service quality literature as; disconfirmation theory, gaps model of service quality, normative expectations-differential scale, ideal expectations-differential scale, and performance-only scale. Subsequently based on measurement scales and operationalization techniques the literature is classified into six distinctive groups as; industry/ function specific scales, multiple gaps scales, hierarchical scales, internal & external scales, conceptual differentiation, and other approaches to service quality. These six groups are recommended to be used for classifying any research involving measurement and operationalization of service quality. The study contributes to better understanding of service quality conceptualization centered around measurement scales and operationalization techniques.
Keywords: service quality; service gaps; internal service quality; external service quality; service quality measurement; service quality operationalization.
Realising Holistic Creative Thinking through Seven Principles: A 21st Century Paradigm Leading to Sustainable Innovation
by Nishant Khandelwal, Anil Mehta
Abstract: The current business world and the academic fraternity agrees on the need for creative thinking and innovation in every sphere of life to ensure global sustainability. Today, we are forced to provide those innovative solutions which are sustainable i.e. one which caters to the social and environmental needs of both the current and future generations, besides aiming at profitability. To meet such a challenge, one needs a different paradigm. This paper, proposes a holistic set of seven principles for practice of management for problem solving and innovating through creative thinking. Together, these principles provide holistic creative thinking resulting into sustainable business & social innovations if taken up to their conclusions, given any target or challenge. Since these are principles, they are fundamental, enduring and universally applicable. *Author during his years of training experiences has experimented with these principles with variety of trainee batches and have seen them working. It is now brought forward for the benefit of all.
Keywords: principles of creativity; sustainable innovation; holistic creative thinking; creativity paradigm; entrepreneurial sustainability; innovation.
Determinants of Sustainable Financial and Innovation Performance: A Panel Data Analysis of Indian Manufacturing SMEs
by Abhishek Kumar Sinha, Aswini Kumar Mishra, Manogna R L, Rohit Prabhudesai
Abstract: The contribution of Indian manufacturing small and medium enterprises to the gross domestic product has been consistently falling across the last few years as they have been struggling to survive and scale-up due to a host of factors. This study aims to provide important implications to improve their competitive position by trying to identify the determinants which influence the two critical indicators of sustainable firm performance- sustainable financial performance and sustainable innovation performance. To do so, we empirically analyse 486 R&D conducting SME manufacturing firms from the firm-level data for the period of 2006-2017. Our results indicate that the determinants have a disparate impact on both types of sustainable firm performance. The study findings reveal important theoretical as well practical insights for the long-term sustainability and competitiveness of manufacturing SMEs.
Keywords: SMEs; manufacturing firms; manufacturing SMEs; sustainable firm performance; sustainable financial performance; sustainable innovation performance; R&D; export intensity; fixed and random effects; India.
Towards Globalisation of B-Schools: Best Practices for Sustainable Higher Education
by Preetha Menon, Kaushik Samaddar, Aparna K H
Abstract: Higher education today contributes to economic, social and human development. The quality and focus of higher education decide the quality of the workforce in businesses. Prominent frameworks in higher education like Humboldtian model of higher education, Responsible Research and Innovation (RRI) framework and Wals and Jickling model have been synthesised to find newer meaning in this space. This paper content analyses 18 interviews of leaders from top-ranking B-schools that were published in a leading business magazine. Focus on international collaboration, industry exposure and encouraging entrepreneurship, emphasis on innovative and quality learning atmosphere, focus on research, nurturing socially responsible global leaders, women in higher education and leadership, and shaping young managers who are conversant with digital transformation were the seven best practices identified by this study for sustainable higher education. Corroborating with existing frameworks, this study provides direction to B-schools, policymakers and scholars in the area of sustainable higher education.
Keywords: Sustainable Higher Education; Content Analysis; B-school; Best practices; India.
Demystifying Collaborative Consumption: A Systematic Literature Review
by K.G.Sofi Dinesh, Rejikumar G
Abstract: Collaborative Consumption (CC) is slowly and steadily becoming part and parcel of our economy. People are becoming aware of the benefits of CC and they are also becoming active participants in CC but research is only a decade old in this area although the concept of sharing existed prior to digital era. This study attempts to give clarity to the concept of collaborative consumption in the light of recent studies and look at its different types as discussed in literature. It looks into the major motivating factors and impediments from the consumers end to engage in collaborative behavior. There are a lot of areas from the consumer behavior lens that are open to research in future which include quality and value perception in CC, consumer expectation from CC. The review expose dearth in literature on conservative geographies where conflict from prevailing social norms and value systems create complexities among customers to engage in active participation to CC.
Keywords: Collaborative Consumption; Sharing Economy; Systematic Literature Review; Consumer Behavior; Prosumer; Exclusivity; Rivalry; Customer Experience; Environmental Sustainability; Marketplace.
Sustainable Restoration Strategies for Rivers Mula-Mutha, Pune, India Adaptive Learnings from Global River Restoration Experiences and Thematic Analysis
by Urvashi G Dhingra, Madhura Bedarkar, Prakash Rao
Abstract: This study explores the causal link between the drivers and impacts of pollution in Mula-Mutha rivers and further recommends sustainable restoration strategies for these rivers based on the Drivers-Pressure- State- Impact- Response (DPSIR) framework. It also draws learnings from twenty degraded rivers across the globe with respect to their drivers, corresponding pressures, and restoration strategies and identifies a pool of thirteen best practices to guide Mula-Mutha restoration efforts. To understand specific issues associated with Mula- Mutha rivers, the study organized eighteen semi-structured interviews, and performed thematic analysis to explore themes for each component of the DPSIR framework. Finally, the study recommends suitable response strategies for sustainable restoration of Mula-Mutha rivers. The paper strengthens understanding of river restoration practices and supports policy-making by providing a set of sustainable river restoration strategies for urban, degraded rivers.
Keywords: River restoration; DPSIR framework; Mula-Mutha river; global best restoration practices; sustainable restoration.
Sustainable Careers: Creating a framework of talent acquisition practices
by Deepika Pandita, Ritesh Khatwani
Abstract: Human resource has been identified as one of the most important factors in creating sustainable and successful organizations. The focus of researchers in this regard has, by and large, been strategic and towards enduring change and competition in the long run. With such a focus there emerges a visible gap in terms of sustainability at an operational level in terms of day to day issues. The present research is conceptual in nature. It tries to address this gap by providing a model to bring sustainability to human resource practices like talent acquisition and its impact on sustainable careers. Organizations, practitioners, and academia may apply the model. The paper identifies few sustainable talent acquisition practices, some of which have the potential to greatly improve existing processes and may be implemented by contemporary organizations to make sustainable careers as a vital HR practice.
Keywords: Human resources; talent acquisition; sustainability; green interviews; competencies.
Systematic Literature Review of Voluntary Disclosures
by Arpita Sharma, Shailesh Rastogi
Abstract: With the changing facets in the reporting of information, voluntary information disclosure becomes the central of all types of information disclosure. The purpose of the study is to derive various motives and the factors of the voluntary disclosures. The authors collect the published papers from the Google Scholar database by using Harzing's Publish or Perish software. The papers for the review are selected on the bases of citation per year. The current study finds the pattern of the quality papers published in the area of voluntary disclosures. The paper finds the major research journals and the publishers in the said area. The study presents the results of citations analysis and establishes various relationships among the sources, pattern, and the total cites and citations per year. It also presents various theories, types, motives, and factors associated with the concept. A conceptual framework of the voluntary disclosure is established.
Keywords: Voluntary Disclosure; Citation analysis; corporate governance; asymmetric information; signalling theory; agency theory.
Investigating Entrepreneurial Competency In Emerging Markets: A Thematic Analysis
by Mahima Mishra, Abhjjit Deshpande
Abstract: Small and medium enterprises are critical for the growth of the economy and entrepreneurs play an important role in success of these firms. The study aimed to identify the competencies required for Indian SMEs entrepreneurs in the evolving Indian market and presents insights from SMEs owner pertaining to Entrepreneur Competencies which are important from the sustainability point of view. A thematic analysis was done using case-based approach to identify and explore key insights into the Entrepreneur Competencies. This was supported by a comprehensive literature review. The survey was conducted based on convenience sampling of SMEs owners engaged in manufacturing. Face to face semi-structured interviews was conducted. The narratives were used to develop EC competencies. The demographic profile of the firms was surveyed. For data collection purposes various aspects of competencies related opportunity, strategic, conceptual, relationship, commitment were used. It was revealed that both generic EC and specific competencies are necessary to conduct the business and also take into consideration the firms resource based view to have an edge in the market and also ensure sustainability in the competitive emerging market. The study concludes that exploring EC competencies in emerging markets is important and certain competencies are critical in the changing environment of the Indian market. The finding will have implications for SMEs owners in terms of being aware of acquiring relevant competencies to sustain and grow their businesses in the emerging and competitive market.
Keywords: Entrepreneurial Competencies; SME’s; Sustainability; Resource-Based View Emerging markets; Indian Market.
Special Issue on: Social Entrepreneurship Key Issues, Drivers, Challenges and Impact
Social Entrepreneurs Venture Launch Intention: Exploring the Role of Cognitive Determinants
by Tanusree Chakraborty, Madhurima Ganguly, Nandita Mishra
Abstract: There are a good number of social enterprises that are particularly inclined to serve the poor. They are founded because of some specific socioeconomic contexts that crave to address the dire need for upliftment of poor and address issues of inequality. Not everybody does engage in business models that serve the poor. There is a group of people who feel passionate to engage in this type of business models. They engage in businesses that strive to bring solutions to social problems like poverty, lack of education, gender issues, healthcare access, etc. What drives these entrepreneurs? In this context, the present paper tries to a) understand the cognitive determinants of the entrepreneurs who engage in business models in order serve the poor, b) to see the role of altruism in social entrepreneurial venture launch, c) to check whether social entrepreneurs are generalists or specialists in their field. For this purpose the study takes a data triangulation approach. To capture different dimensions of the cognitive determinants of serving the poor, the study has employed interview method, focus group discussion and use of questionnaires. The study found that cognitive determinants studied in the present paper are guiding factors for developing a business model to help the poor, altruism has a moderating role on the relation between cognitive determinants and social venture launch, and that social entrepreneurs have a wide range of experience and generic knowledge in variety of fields as compared to specific knowledge in one area.
Keywords: Social entrepreneurship; social enterprise; cognitive determinants; altruism; cognitive ability; poor; entrepreneurs’ knowledge; attributes; venture launch.
Moderating Role of Entrepreneurial Marketing in Enhancing Society through Social Entrepreneurship: An Indian Perspective
by Jugal Kishor
Abstract: This paper emphasis on the contribution of social entrepreneurship in societal enhancement. Furthermore, the current study estimated the effectivity of entrepreneurial marketing on the ground of guerrilla marketing, buzz marketing, and viral marketing. The purpose of this study is to analyze the approaches of marketing used in social entrepreneurship critically. Since social entrepreneurship has been estimated as a way of solving social issues. Therefore, this study investigates the prevalence of social entrepreneurship activities to create a feel among society to standardize the living. However, numerous viewpoint of social entrepreneurship domain attempt to further expansion of this field. In light of the current scenario and based on the quality study this paper attempt to bring important insights regarding the use of marketing in social entrepreneurship. The empirical paper highlights the essence of marketing strategies utilized by social enterprises in enhancing society.
Keywords: Social entrepreneurship; entrepreneurial marketing; guerrilla marketing; buzz marketing; viral marketing.
CONSCIENTIOUSNESS AND SOCIAL ENTREPRENEURIAL VISION: TESTING THE MODERATING EFFECT OF FAMILY INFLUENCE
by Apoorva Bhatnagar, V.K. Singh
Abstract: The purpose of the study is to enhance our understanding about influence of conscientiousness on social vision in Indian settings along with testing the moderating effect of family influence. The survey was conducted by sending online invitations to participate in the survey to respondents who lived in India. 250 people participated in the study, out of which 201 questionnaires were used for data analysis. Hierarchical multiple regression was conducted using the process developed by Andrew F. Hayes to test the hypotheses. The findings of present study suggest that conscientiousness is a strong predictor of social vision in Indian settings. This study, further adds to the literature that family influence moderates the relationship between conscientiousness and social vision. Theoretical and practical implications of the findings are discussed.
Keywords: Social entrepreneurship; Conscientiousness; Social vision; Family influence.
Entrepreneurial intention for social cause: Role of moral obligation, contextual support and barriers
by Shalini Shukla, Rakesh Kumar
Abstract: Social entrepreneurs are the individuals who conceptualise the business idea through their commitment to serve the society for a specific cause. Venturing into a business, whether social or profit-oriented is primarily planned in nature and intentions are assumed to be a better predictor of planned behaviours. Thus, the present study attempts to analyse the significant factors affecting Indian students intention towards social business venturing. A total of 314 college students of management and engineering courses of different educational institutes (colleges and universities) in North India were surveyed and data were analysed using structural equation modelling in Amos 22.0. Results indicated that that perceived desirability was influenced by societal moral obligations and perceived contextual support, whereas perceived feasibility was affected by social support, contextual support and contextual barriers. Finally, perceived feasibility and perceived desirability emerged as significant determinants of social entrepreneurial intention. Societal moral obligation and social support were having no influence on intentions. The study produces some meaningful theoretical and practical implications for various stakeholders, including the government, academicians and NGOs working for enhancing the spirit of social welfare among the students.
Keywords: Business venturing; contextual barriers; entrepreneurial intention; perceived desirability; perceived feasibility social cause; social entrepreneurial intentions; social support.
Motivations of Social Entrepreneurs: Use of Self Determination Theory to gain insight into the Indian Scenario
by Anushree Tandon, Ashish Gupta, Gagan Katiyar
Abstract: Social entrepreneurship is an emergent area of research which needs significant investigations for developing a definitive conceptualization and to understand the inclusive effect of both cognitive processes and affective factors on entrepreneurial motivation and action. The issue is under-investigated in emerging economies such as India, especially in context of motivational factors precipitating growth of social entrepreneurship. This study uses fundamental tenets of Self Determination theory and Intrinsic Motivation Inventory to develop preliminary insights into components of intrinsic motivation driving social entrepreneurship in India. Findings indicate that significant research is needed to develop this concept in Indian context.
Keywords: Social entrepreneurship; Motivation; Self Determination Theory; India.
Barriers and Drivers of Social Entrepreneurship: A Qualitative Insight from Indian Social Entrepreneurs
by Smriti Pande, Ruby Sengar, Narendra Singh Chaudhary
Abstract: This study is aiming towards the exploration of factors that motivates an individual to become a social entrepreneur. It also highlights the various approaches used to overcome the challenges faced by them leading to sustainable social ventures.The study draws upon qualitative data by conducting structured interviews using Interpretative Phenomenological Analysis (IPA) technique with 15 social entrepreneurs.It identified many challenges such as financial, social, etc. that comes in the way of becoming a social entrepreneur. There are motivators identified like satisfaction, passion, support, and impact on society that keep the spirits high of a social entrepreneur despite so many challenges faced. The study also identifies ways to ensure the sustainability of social enterprises.This research makes a significant contribution by highlighting the challenges faced by Indian social entrepreneurs who have been neglected in the literature and recognizing the factors that keep them motivated.This study is useful not only for the individuals who are willing to pursue their idea of helping the society. Furthermore, it also throws light on what other external bodies like government and stakeholders must do to create a supportive environment for this emerging sector. rn
Keywords: Social entrepreneurs; Social Entrepreneurship; Motivators; Interpretative Phenomenological Analysis; India.
Special Issue on: Business and Globalisation in Emerging Markets
Determinants of long term orientation in seller e-retailer relationship: a seller perspective in the Indian E-commerce
by Swati Bhatnagar, Rajan Yadav
Abstract: ABSTRACT Purpose- The purpose of this paper is to identify the antecedents of long term orientation of the online sellers with the e-retailer, and its impact on the satisfaction of online sellers in the nascent but booming Indian E-commerce industry.Research Design & Methodology- A conceptual framework is proposed to empirically examine the effect of dependence, trust, role performance, collaboration & policies on the long term orientation in context of the E-commerce dyad comprising e-retailer and the connecting sellers. The responses were collected from 250 active online sellers across India. The conceptual framework is validated through structural equation modelling.Findings- The results suggest that the framework proposed had a good fit with four out of seven hypothesized relationships found to be significant for the online channel structure. The study establishes that dependence, collaboration, working policies and satisfaction are related to the long term orientation of online sellers.Originality/ Value- In spite of the sweeping effects of distribution channel management on the sales performance of a firm it is regrettable that there is hardly any research investigating the nature of relationship and satisfaction level prevailing between firms and its distributors in India. To the best of authors knowledge this study is the first of its kind in contributing to the understanding of e--retailers and seller relationships in the Indian E-commerce industry.
Keywords: Distribution channel; channel relationship; dependence; channel structure; e-retailer; seller; long term orientation; satisfaction; reintermediation; E- commerce.
Study of Stock Returns through P/E, PEG and PERG: Evidences from Nifty-100
by Dinesh Kumar Sharma, Rakesh Kumar Srivastava, Prashant Gupta
Abstract: In this study the concept of value investing strategies is employed for stock screening, where by Low-PE, Low-PEG, and Low-PERG ratios have been used. The concepts are based on the hypotheses that the stocks screened out with the help of these ratios could generate better returns than the market returns. This study has also examined that which risk alternative, the standard deviation of returns (σ) or the beta coefficient (β), could improve the performance while adjusting with PEG. On the bases of these alternative strategies 30 stocks have been selected out of Nifty 100 stocks to construct different portfolios and held through the investment period from 2008 to 2018. Portfolios constructed by using Low-PE ratio, Low-PEG ratio and Low-PERG ratio as screening strategies resulted in higher returns than the market average during investment period. Holding-period returns (HPR) for low-PERG-β strategy have outperformed the market returns as well as other alternative strategies during April 2008 to March 2018 investment period. Beta (β) appeared to be a better alternative for risk factor than the standard deviation of returns when adjusted risk factor with PEG ratio.
Keywords: P/E ratio; PEG ratio; PERG ratio; Stock Return; Portfolio Return; Nifty-100; Indian Stock Market; Holding-period return (HPR).
Dimensions and Drivers of Medical Tourism Industry: A Systematic Review of Qualitative Evidence
by Neha Malhotra, Kartik Dave
Abstract: The 21st century has seen an upsurge in the demand for global healthcare services. And one such niche sector of this rapidly growing market is Medical Tourism. The rising disparity in healthcare costs is fulling the growth of medical tourists to emerging markets, especially those with advance healthcare facilities and a proximity to developed countries. The interesting pace of this industry has received a growing curiosity from both researchers and practitioners. But most extant research still ignores the factors of competitiveness of a medical tourism destination. Against this backdrop, the present study seeks to identify and analyse the dimensions and drivers of the medical tourism industry. It does so by systematically synthesizing qualitative studies that elicit views of various stakeholders practitioners, management, government, industry associations, facilitators and the academia.
Keywords: Medical tourism; Health tourism; Destination competitiveness; Drivers; Systematic review.
Juxtaposition of Favourable and Deterrent Antecedents on WhatsApp Usage Optimisation
by K. Sayee Manohar, Siva Muthaly, Navin K. VEERAPA
Abstract: This paper ascertains the tenets of Usage Optimisation 'UO' of WhatsApp as a social media communication platform and the influence of selected aspects on individuals' levels of positivity or negativity in the context of WhatsApps usage optimisation (UO). A questionnaire was administered to an audience in South India. The applicability of the conceptual model was first validated and a Partial least squares (PLS) SEM based methodology to analyse and interpret the overall findings. Path analysis has also shown the catalytic role of intermediation by favourable elements and aspects of deterrents. The findings in this study are contradictory to the norm with WhatsApps phenomenal acceptance and its impulsive adoption. rnBusinesses could benefit by incorporating aspects of the antecedents, in designing niche promotional strategies for their targeted segments and will therefore have a renewed opportunity to incorporate strategies to filter repeated messages and irrelevant chats in new value-added WhatsApp platforms.
Keywords: WhatsApp; social media; usage optimisation; favourable; deterrent; antecedents; socialising; partial least squares; juxtaposition.
Special Issue on: AIC 2018 Managing Business Innovation and Strategy in the Digital Age
Impact of Organisational Innovation on Non-Financial Organisational Performance:
An Exploratory Study of Higher Education Institutions in Oman
by Zaynab Nadim, Binu Mathew
Abstract: Organisational innovation may contribute in enhancing the skills and knowledge for the employees which will lead to improving the organisational performance. However, the research literature has been dominated with studies examining the association between organisational innovation and financial organisational performance. There has been increased interest in the non-financial organisational performance (NFOP) in higher education institutions (HEIs) in the Sultanate of Oman. The aim of the study is to measure the impact of organisational innovation on non-financial organisational performance in the (HEIs) in the Sultanate of Oman. The study used exploratory research design to validate the proposed relationships described in research objectives and to develop a reliable discussion extending to the findings attained. To achieve research objectives, primary data were collected by surveying 329 staff working in three HEIs in Oman through a structured questionnaire. The finding of the study showed that organisational innovation has a positive impact on non-financial organisational performance.
Keywords: Keywords: Higher educational Institutions (HEIs);Organisational Innovation; Technical Innovations; Administrative Innovations; Innovative Culture; Organisational Performance.
Social Network, Prior Working Experience, Start-up Experience and Access to Support: The Case of the Malaysian Start-up Industry
by Daisy Mui Hung Kee, Sabai Khin, Theresa C.F. Ho
Abstract: It has been proven from the resource-based view that start-up entrepreneurs need access to resources through supports to found a successful venture. However, many nascent entrepreneurs in many countries still lack access to considerable support. Start-ups that have no access to institutional support usually had higher rate of failure compared to those who did. To address this problem, this study was conducted with the first objective to empirically test the impact of one of the significant, under-researched factors in start-up studies social network as a crucial contributor in getting access to start-up supports in terms of technology, market, finance and soft-related support from governmental and non-government agencies in the context of Malaysian start-ups. The second objective of this study is to examine whether start-up owners working experience and start-up experience moderate the impact of social network on access to support. To achieve these objectives, this study employed structural equation modelling from a Partial Least Square approach for analyzing responses from 500 start-up firms in Malaysia. This study provides valuable theoretical and practical implications while offering a new research direction towards developing an extended theory of social capital by linking social network to an important start-up ecosystem factor start-up support.
Keywords: Start-up; Support; Working Experience; Start-up Experience; Social Network.
SOCIAL MEDIA AND OPEN INNOVATION: IMPLICATION FOR INNOVATION PERFORMANCE AMONG SMES IN MALAYSIA
by Shan Shan Teh, Daisy Mui Hung Kee
Abstract: In this dynamic social and technological environment, knowledge is the main source of innovation. Innovation is required in Malaysia in order to boost the economy. However, the innovation in Malaysia is considered low as compared with other countries. The lack of innovation is due to insufficient knowledge, skills, and financial issues. In fact, social media and open innovation are strategies that can be employed in organisations to solve these issues. Social media is an excellent platform that can be utilised to engage and interact with customers and gain valuable information. As for open innovation, it allows organisations to explore outside knowledge and to exploit internal resources to stay competitive. Both strategies could be utilised to solve the issues faced by Malaysian SMEs. Thus, social media and open innovation are the strategies which will be discussed on how they impact innovation performance among SMEs in Malaysia.
Keywords: social media; open innovation; innovation performance; small and medium enterprises; Malaysia.
The Causal Effects of Leading Macroeconomic Indicators on Stock Return: Evidence from 13 Selected Asia Pacific Countries
by Shu-Ern Lim, Pei-Tha Gan, Fatimah Salwa Binti Abd. Hadi, Norasibah Binti Abdul Jalil
Abstract: The motivation for this study stems from the fact that the leading macroeconomic indicators, namely output, inflation, interest rate and exchange rate can cause a change in the stock return. This study aims to examine the causal relationship between stock return and the leading macroeconomic indicators. This study uses the idea of market informational inefficiency via the context of semi-strong form of the efficient market hypothesis based on 13 selected Asia Pacific countries. To avoid spurious regressions, this study employs the augmented Dickey-Fuller and the Phillips-Perron unit root tests to determine the stationarity of the variables and the random walk effect. By using the Toda-Yamamoto Granger causality test, the finding suggests that the causal effect of the leading macroeconomic indicators on the stock return may shed light on decisive decision making about risk minimisation and returns maximisation of fund managers, investors, and investment agencies.
Keywords: Leading Macroeconomic Indicators; Stock Return; Causal Relationship; Market Informational Efficiency; Random Walk.
Development Growth of Beach Resorts: Practitioners Perspective
by Mazlina Mustapha, Khairil Wahidin Awang
Abstract: The increase in demand for natural touristic features such as sandy beaches, colourful corals and warm weather at island destinations has led to the mushrooming of beach resorts. Beach resorts equip island destinations with places to stay for tourists while letting them enjoy islands touristic features. Beach resorts accommodate both international and domestic tourists at an ever increasing trend. Nevertheless, the construction and development of these resorts at large was on an ad-hoc basis. Although the existence of this segment of the accommodation sector is significant to the growth of the tourism industry, its unregulated development has led to many physical and socio-culture drawbacks. This paper aims to explore this process of development, filling the gaps in tourism destination planning. In-depth interview and observation formed the primary mode of collecting data, underpinning the qualitative approach adopted in this study. Findings suggest that increased number of tourists, international and domestic, fuelled spurious development of beach resorts. Demand for accommodation space spiked during weekends, long weekends and public holidays. Development was rapid and uncontrolled, although there were evidence that the government had plans to regulate this process.
Keywords: Beach resort; Island destination; Planning; Qualitative; Tourism development.
Bank Mergers and Acquisitions in Emerging Markets: Evidence from the Middle East and the North Africa (MENA) Region.
by Sameer Mohammed Sindi, Bany Ariffin Amin Noordin, Nazrul Hisyam Ab Razak, Fakarudin Kamarudin
Abstract: This study provides an empirical assessment of shareholders wealth effects resulting from bank mergers and acquisitions (M&As) in emerging markets of the Middle East and the North Africa (MENA) region between 2000 and 2018. A sample of 40 listed acquirer banks from different countries in the MENA was examined in this study from Bahrain, Egypt, Kuwait, the United Arab Emirates, Saudi Arabia, Oman, Qatar, Jordan, Tunisia and Lebanon. The event study method was employed using three different event windows to examine the short-term effects of M&As on acquirer banks within the MENA region. Based on the analysis and results for the cumulative abnormal returns (CARs), this study found that there were positive CARs in all three event windows. Although, the p-values of the regression models indicated that the positive CARs were not statistically significant. As a result, this study concludes that M&As have not caused significant positive nor negative effects in the short-term on acquirer banks in the MENA region. It is anticipated that the findings and contributions of this study will further add to the existing body of knowledge in this field regarding shareholders wealth effects resulting from bank M&As in the MENA region, and also aiding investment decisions of potential investors in future.
Keywords: Banks; Mergers and acquisitions; Event study; Emerging market economies; Emerging markets.
Directors Remuneration, Expropriation And Firm Performance in Malaysia: Evidence From Non-Executive Directors Service Duration Within The Remuneration Committee
by Chee Yoong Liew, Young Kyung Ko, Bee Lian Song, Saraniah Murthy
Abstract: In emerging markets, the issue of directors remuneration being used as an expropriation channel by controlling shareholders is a significant problem to be investigated. In this study, using the Fixed Effect Method, we examine the relationship between directors remuneration and firm performance, and tests whether independent directors tenure within the remuneration committee moderates this relationship in a sample of Malaysian public-listed firms. We find that directors remuneration is not significantly associated with firm performance and hence, not used as a channel of expropriation by controlling shareholders. Our results also show that longer tenure of the independent directors within the remuneration committee is negatively related with firm value. However, when directors remuneration increase simultaneously with the tenure of the independent directors within the remuneration committee, firm value increased. This increment is stronger in family firms compared to non-family firms. These findings may provide policy implications with respect to how the Securities Commission (SC) could design and implement proper rules and regulations to govern the tenure of the independent directors within the remuneration committee in East Asian emerging market firms where Agency Problem Type II is prevalent and ownership is highly concentrated.
Keywords: corporate governance; directors’ remuneration; family firms; agency problems.
The Impact of Educational Tourism on Economic Growth: A Panel Data Analysis
by Siti Hajar Hussein, Suhal Kusairi, Fathilah Ismail
Abstract: Since the early twentieth century, the educational tourism sector has been growing rapidly especially in developing countries and it is one of the major sources of export in a number of developed countries. Therefore, the objective of this paper is to determine the impact of educational tourism on economic growth with controlling the impact of exports of goods and foreign direct investment. A panel data set of 11 countries was selected as the main group in international education exporter for the year 2002-2017 and this study utilised static panel data analysis. The results found that educational tourism and exports have positive impact on economic growth. The study also found that there is a country specific effect through different constant. This study proved that other than exports of goods, certain countries can benefit from the educational tourism sector as the new engine of economic sustainability.
Keywords: educational tourism; economic growth; panel data analysis.
Role of Customer Experience in Developing Co-creation Strategy and Business Model Innovation: Study on Indonesia Telecommunication Firms in Facing Industry 4.0
by Leonardus Wahyu Wasono Mihardjo, Sasmoko Sasmoko, Firdaus Alamsjah, Elidjen Elidjen
Abstract: Industry 4.0 is driven by the significant influence of digital technology in the industry. Corporations are required to transform their operations, products, and services to show distinctive organization capability and to have the ability to respond to market changes and to provide customers experience services to sustain competitive advantages. The main drivers of Industry 4.0 are long-term innovations, especially for business model innovations integrating with vertical and horizontal capabilities and co-creation strategies, which are a collaborative strategy to grow together with customers and partners. Information Communication and Telecommunication (ICT) plays an important part in enabling the digital transformation. At this stage, research on business model innovations to transform organization capabilities within the ICT Industry is still very limited. This paper seeks to portray the conceptual model of ICT companies in transforming their business and organization capabilities to face Industry 4.0 through co-creation strategies and business model innovations in Indonesian markets. Indonesian markets are unique in terms of its ICT infrastructure, but they are still left behind compared to other countries. However, they have tremendous opportunities in terms of digital capability innovations. The strategic management outline used as a framework for this paper. Mediating variables were co-creation strategies and business innovations with distinctive organizational capability as an internal factor and consumer orientation as the external independent factor. The construct of co-creation strategy and transformational performance were discussed. This model of digital transformation was a suitable model for senior leaders to transform digital business capabilities and academics. Moreover, the model and construct of a variable can be used to further develop the theory of digital transformation.
Keywords: Industry 4.0; customer experience; co-creation strategy; business model innovation.
The Effect of Capacity building and Service Quality PLUT-KUMKM Toward SMEs Engagement in Improving Economic Creative in Subang Regency, Indonesia
by Hendry Hartono
Abstract: SME plays an important role in the structure of the Indonesian economy, based on Bank Indonesia's report, in 2016 where the SME sector dominates 99.9% of business units in Indonesia and is able to absorb almost 97% of the workforce in Indonesia. The growth of SMEs in Indonesia increases annually by more than 20%. This is the government's concern to continue to develop and empower SMEs to have good quality and able to compete with SMEs in various regions. Ministry of Cooperatives and SMEs to create programs to help improve the quality of SMEs, namely by establishing an Integrated Business Service Centre for Cooperatives and Micro, Small and Medium Enterprises (PLUT-KUMKM). The purpose of this research is to know the influence of capacity building and service quality of PLUT-KUMKM towards SMEs engagement in improving creative economy in Indonesia. Data collection techniques through questionnaires given to SMEs and then data processed through software SPSS 20 using simple and multiple regression. The results show that capacity building for SMEs engagement does not have a significant effect, while for the quality of service to SMEs engagement has influence. If capacity building and service quality are tested together, both have a significant influence on SMEs engagement in improving the creative economy in Subang Regency. Service quality has a greater impact than capacity building for SMEs Engagement.
Keywords: Service Quality; Capacity Building; SMEs Engagement.
Do Productivity Incentives Really Equate to Increase Work Performance of the Employee?
by RICARDO DIZON, Melcah Monsura
Abstract: Abstract: The salary increase and reward and recognition system were implemented to encourage creativity, innovativeness, integrity and productivity among workers, especially in the public sector through granting monetary and non-monetary rewards (i.e free trainings and seminars). However, uncertainties arise on the effectiveness and impact of these actions on driving higher performance of the employees. Hence, this study provided an analysis to address the issue on whether the implementation is a sufficient driver of the employees performance. Using a panel regression analysis, the results revealed that the implementation, as represented by explanatory variables such as Performance-Based Incentives, Real Wage, Interaction Effects of Performance-Based Incentives and a dummy for implementation, can statistically influence the employees performance rating. Thus, it is recommended that the policy makers of rewards and compensation system must strengthen the performance-based entitlement by providing more encouraging objective and targets for government workers, organizations and institutions and ensures the objectivity and impartiality of entitlement through comprehensive and progressive assessment on the impact of incentive and wage to the employees working behavior and attitude that is not measurable by the existing system.
Keywords: employee’s performance; labor productivity; performance-based incentive; real wage; economics; public economics; SPMS; incentives; rewards; employees.
Issues and Challenges in Rebranding of Malaysia Street Market
by Nur Atiqah Rochin Demong, Erne Suzila Kassim, Melissa Shahrom, Noor'ain Mohamad Yunus, Sri Fatiany Abdul Kader Jailani
Abstract: Street market, including night and farmers market, is considered as a less formalized economic activity. Low prices and possibility to find deals and a melting pot for peoples diversity and culture have become the street market essence. However, the liberation of sub-scale retail sector has somehow affected the consumers acceptance of the market. Therefore, it raises the question on how can the street markets regain its competitive advantage and survive in the industry. In this paper, a case study was conducted to gather insights from stakeholders on the issues and challenges of rebranding street markets. Sellers and frequent and irregular buyer groups were selected based on purposive sampling strategy as participants. Findings of the interviews with the respective local council, and street market sellers and buyers reveal price non-standardization, service quality, product preference, infrastructure, convenience and accessibility and sellers resistance to change are the key issues.
Keywords: Street Market; Rebranding; Retail Market; Open-Air Market; Competitive Advantage.
Suprevisory board and Indonesias company internationalization
by Mukhlizul Hamdi, Desi Ilona, Zaitul Zaitul
Abstract: This study aims to examine the role of supervisory board on internationalization of Indonesias listed companies. Based on the agency theory, Supervisory board may improve the international company performance through company oversight. Therefore, this study specifically investigates the effect of supervisory board composition, size, and expertise on international performance. Besides, four control variables also included in the model to maintain the model specification errors. Sixty-one manufacturing listed companies from 2012-2016 periods are used in this study. Panel data analysis using Stata application is applied. The result show that supervisory board composition has a significant relationship with the company international. Other two characteristics have no effect on company internationalization. In addition, the company age and profitability also contribute to the internationalization of company. The practical and theoretical implications of this findings are discussed in detail.
Keywords: Supervisory board;internationalization; Indonesia.
Special Issue on: CUDC - 2019 Emerging Research Issues in Management, Commerce and Economics
Seasonal Anomalies in Emerging Markets: An Empirical Analysis for Indonesia
by Dinesh Jaisinghani, Mahesh Ramalingam, Muskan Kaur
Abstract: The prime objective of the current study is to test prominent seasonal anomalies for Indonesian securities markets, which are mostly reported for advanced markets. The closing values of nine different indices of the Indonesia Stock Exchange have been considered for the analyses. The time frame of 2005 to 2017 has been utilized to estimate the results. Four major calendar anomalies, including the day of the week effect, the month of the year effect, the Halloween effect, and the trading month effect, have been tested. The study also tests the incidence of volatility clustering and whether this clustering differs across positive and negative news. This has been achieved by deploying the threshold generalized autoregressive conditional heteroscedasticity (T-GARCH) model. The results of calendar anomalies tests indicate the presence of strong day-of-the-week effect. The results also lend weak support to the Halloween effect. However, the results do not support the presence of the month-of-the-year effect and the trading-month effect. The results of volatility clustering are highly significant and it is also observed that volatility clustering varies across positive and negative news.
Keywords: T-GARCH; Indonesia Stock Exchange; Day of week effect; Halloween effect; Mid-year effect; Trading-month effect; Weekend effect.
POSITIVE LEADERSHIP DRIVES WORK ENGAGEMENT: A PERCEPTION STUDY OF INFORMATION TECHNOLOGY EMPLOYEES
by Sunil Kumar R, Harold Andrew Patrick
Abstract: Positive behaviour brings in a positive orientation towards the future. This affects an employees beliefs, attitude and behaviour system resulting in positive actions. Business leaders are looked upon not only for ensuring effective leadership but also to develop, recognize and provide quality of work-life for their employees. The purpose of this study was to investigate the influence of positive leadership behaviour on work engagement among employees in Indian information technology organisations. Descriptive and mixed-method research was adopted, using two standardised, reliable and valid scales were administered to the target sample of 203 software employees working in the Information Technology (IT) organisations with a minimum of two years' experience. Judgmental sampling technique was adopted to select the companies and respondents. Results indicated that employees of IT organisations do agree that they experience positive leadership behaviours from their supervisors and it does influence work engagement. A significant positive correlation was found between employees perception of positive leadership and work engagement. Regression analysis results indicated that positive leadership behaviours do significantly influence the work engagement of IT employees. Strength-based leadership behaviour dimension significantly predicted and influenced work engagement. Implications of the study are discussed, as to how organisations should encourage their immediate supervisors to practice positive leadership at the workplace leading to a higher level of work engagement. It also suggests how to develop strategies to enhance positive leadership approaches so that vigour, dedication and absorption of employees at the workplace increase. The study contributes to positive leadership behaviour theory and its effect on employees work engagement patterns in the IT sector in India.
Keywords: Positive Leadership Behaviour; Employee Strengths; Recognition; Positive Perspective; Work Engagement; Information Technology Organisation; Organisational Behaviour;.
An Evaluation of the Scales Adapted for Examining the Job Demands-Resources (JD-R) Model in an Indian Policing Context
by Anil Kumar, Sarang Narula
Abstract: The paper aims at documenting an evaluation of Hindi adaption of measurement scales for examining the job demands-resources (JD-R) model, a framework for observing the two facets of work-related well-being (i.e. burnout and work engagement) along with their correlates. Using a cross-sectional design, the study presented the measurement items to 1,246 police officers in an Indian state, Haryana. Exploratory and confirmatory factor analysis assessed the measurement items and scales in terms of dimensionality, reliability, and construct validity. This study findings suggest reliable and valid scales to examine the two (health impairment, and motivational) processes of the JD-R model, with an integration of personal resources in Indian policing context. For the policy-makers and particularly for police organisations, the study, a novel one in Indian context, is likely to have important practical implications by offering suitable scales to monitor the work-related well-being along with their correlates.
Keywords: job demands; job resources; burnout; work engagement; personal resources; job demands-resources model; dimensionality; reliability; construct validity; police officer.
Need of Measuring Service Quality in Hospitality Education: A Conceptual Framework
by PRATIK GHOSH, DEEPIKA JHAMB
Abstract: Abstract: This paper explores the need of measuring the service quality in hospitality education and proposes the association between service quality, perceived value, satisfaction and behavioural intentions from the perspective of key stakeholders. Expert views were solicited from academicians and industry recruiters. The available literature was also referred and past placement records of IHMs were analysed to support the study. The findings suggest that in a competitive scenario, besides service quality in hospitality education, there is a need to simultaneously measure value and satisfaction leading to behavioural intentions. Accordingly, a framework is conceptualized for the stakeholders by adopting the research model (Cronin, Brady and Hult, 2000). The outcome in the form of behavioural intentions of stakeholders would then provide the direction to IHMs to better utilise their resources towards facilitating improved service quality, enhanced satisfaction or superior value.
Keywords: service quality; customer satisfaction; perceived value; perceived sacrifice; behavioural intentions; hospitality education.
Learning Preferences and Attitude towards Change Acceptance of Diverse Generational Workforce in Digital Era
by Preeti Mlalhotra, Dr Kim Menezes
Abstract: In the digital era, where technology is integrated with all areas of business and new models are developed, it is essential for organizations to prepare their workforce to compete in the new world of work. Hence, it is imperative to investigate whether learning style preferences and attitude towards change acceptance of their diverse generational workforce, so as to equip and develop them in an appropriate manner so that it can flow with the tsunami of digitalization.
Todays workforce can be divided into three distinct generational groups of employees Generation X, Generation Y and Generation Z and research has concluded that generational differences exist in the workplace. This paper proposes to examine learning preferences style of each generation and attitude towards accepting change of the three generations in the automobile industry.
Keywords: Generation X; Generation Y; Generation Z; Digitalization. Learning Preferences; Change acceptance; Automobile industry.
Quality Management Practices and Organisational Performance A Study of Indian Manufacturing Organisations
by Sanjiv Gupta
Abstract: Competition in the present business environment increases everyday. To sustain and grow, each organisation needs to improve its performance continuously. One method adopted by most of them is to implement Quality Management (QM) practices; especially the manufacturing organisations. In India, these organisations have adopted these systems so that their performance in various business parameters improves on a regular basis. This paper makes an attempt to establish a positive relationship among the QM Practices - the Role of Leadership, Development of New Products and Organisational Performance. Similarly, a relationship has been established among other practices - improvement in product quality, process management and Organisational Performance. The findings are in line with the studies carried out in other countries on various manufacturing and service organisations. The author has drawn the implications at the macro level with regard to the organisations that propose to improve their performance on a continuous basis.
Keywords: QMP; Quality Management Practices; Organisational Performance; Quality; Leadership; Process; Product; Manufacturing; TQM; Total Quality Management.
MEDIATING EFFECT OF PSYCHOLOGICAL EMPOWERMENT IN THE RELATIONSHIP BETWEEN POSITIVE LEADERSHIP BEHAVIOUR AND FLOURISHING
by Harold Andrew Patrick
Abstract: Globally organisations are aware about the importance of psychological empowerment and employee well-being. Positive leadership behaviour and flourishing has been seen from a strategic view point, within the human resource function, especially in the information technology sector. Today, organisations are focusing on employee flourishing and incorporates two dimensions of happiness; namely, feeling good and functioning well. The aim of the study was to investigate the mediating effect of psychological empowerment on positive leadership behaviour and flourishing. Three standardized, valid and reliable scales were used for collecting responses and 203 employees participated in the study from the top ten Indian information technology organisations. Results of the study indicated that employees moderately experienced positive leadership behaviours from their supervisors and psychological empowerment at the workplace. These two moderately affected employees flourishing at the workplace. A model was developed and tested, it was found to be a good fit. Positive leadership behaviour and psychological empowerment significantly influenced flourishing of employees. Psychological empowerment mediated the relationship between positive leadership behaviour and flourishing. Implications of the study are discussed in the context of employees working in information technology organizations. There is a need to develop specific strategies for leaders to engage in positive leadership approaches at workplace and enhance psychological empowerment for organisational success. This investigation is an attempt to examine the relationship between the constructs, and contribute towards positive leadership behaviour, psychological empowerment, and flourishing theory in the Information Technology context.
Keywords: Positive Leadership Behaviour; Psychological Empowerment; Flourishing; Information Technology Organisation; Organisational Behaviour;.
Decoding Unethical Youth Buying Behaviour: Fair Trade with Unfair Means
by Archana Shrivastava, Sancheeta Pugalia, Kanchan Tolani, Geetika Jain
Abstract: In recent years, a lot of incidents of unethical consumer behaviour have been reported affecting sellers adversely worldwide. The study has attempted to understand the unethical behavior of young adults in an emerging economy such as India. Because of the globalization of markets and production processes, an ever-growing number of marketers and business establishments have to manage ethical issues in cross-cultural sceneries. This paper examines the unethical behavior of young working women in the Indian context. Researchers have proposed a theoretical model to decode the consumer mind and understand the reasons for unethical practices. An Interactive Qualitative Analysis (IQA) was used. IQA begins with a focus group study followed by interviews with the participants. The model reveals 12 factors that are responsible for unethical buyer behavior. The Pareto analysis identifies a value system as a primary driver for unethical consumer practices whereas lack of awareness emerged as the primary outcome of the model. The findings of our study are important for marketers, sellers, producers, policymakers and society at large to mitigate the damages caused by unethical consumer practices. The study will help policymakers to understand the reasons for unethical buying decisions. The study re-emphasizes the importance of social education program to create social awareness on unethical consumer behavior. This study is one of a few that proposes a theoretical model to present the hierarchy of factors related to unethical consumer decisions.
Keywords: Unethical consumer behaviour; Consumer ethics; unethical buying decisions; Ethics; Consumer behaviour; Decision making; Interactive Qualitative Analysis.
Human Resource Accounting Disclosure Practices of Indian IT Companies
by Liaqat Ali, Anuradha Barda
Abstract: The present study has investigated the human resource accounting disclosure (HRAD) practices of the Indian information technology (IT) companies. In this research work, we have studied a sample of 17 IT companies from the S&P BSE-500 index. The extent of HRAD in annual reports of the companies have been analysed with content analysis technique. The firms were ranked on the basis of their HRAD score. The study found a moderate level of HRAD across IT companies in India. The results of this study revealed that selected IT firms are providing a certain amount of HR information in their annual reports though it is only on a voluntary basis. The analysis of the results has further revealed that most of the HR information disclosed is of a descriptive nature. Unexpectedly, none of the companies valued HR in monetary terms.
Keywords: human resource; human capital; disclosure practices; accounting; HRAD index; content analysis; IT companies.
Special Issue on: SAC-MESS 2019 Entrepreneurship’s Role in Wealth Creation in Emerging Markets Business Excellence Models
The Philosophy of Sufficiency Economy Affecting the Purchase of Goods and Services by the Elderly in Nakhon Ratchasima, Thailand
by Kwunkamol Donkwa
Abstract: Abstract: In The 12th National Economic and Social Development Plan (2017-2021) of Thailand, The Philosophy of Sufficiency Economyis applied for the public benefits and can be adapted for sustainable development. The sample group consisted of 228 elderly people aged between 61 and 80. The research was set and conducted in Nakhon Ratchasima because it is the centre of economic prosperity in the lower northeastern part of Thailand. The study indicated that the influence of the variables in the The Philosophy of Sufficiency Economy, the decision to purchase goods and services was 0.789. The elderly group had a high level of importance in making decision to buy or use Food and Beverage, Travel and Recreation, Fashion, Information Technology and Communications services, respectively. There should be relevant government agencies as a mechanism for creating knowledge and understanding of the application of the Philosophy of Sufficiency Economy among the people to apply the philosophy effectively.
Keywords: Keywords: elderly; goods and services; purchasing decision; Philosophy of Sufficiency Economy.
Factors Affecting Consumers Intention to Purchase Smart Condominiums in the Bangkok Metropolitan Area
by Chavich Nilavan, Kittinun Boonyapruk, Patrapa Tangwongthawornkit, Siwanad Wongwasin, Siwat Intaput, Wasita Aroonyingmongkol, Wuttipong Rochanametakul, Guntalee Ruenrom, Apichart Kanarattanavong
Abstract: Demand for condominiums in Bangkok, one of the most populated cities in Southeast Asia, is high and continuing to rise. To differentiate between condominiums, developers have been adding smart devices. However, it is uncertain whether these devices can influence consumers purchase intention towards smart condominiums. Therefore, this study aims to understand the consumers purchase intention and to identify the factors that might affect their purchase intention to buy a smart condominium in Bangkok by using the unified theory of acceptance and use of technology (UTAUT2) and consumer perceived value theory as the research framework. Purposive sampling was used, and data was collected from a sample of 405 residents in Bangkok. The results show that gender, occupation, performance expectancy, value for money, technological innovativeness, and family/friends influence significantly and positively affect purchase intention. Accordingly, property developers should communicate with their prospective customers by focusing on the expected performance and value for money of smart condominiums. Notably, family members and friends who own smart condominiums also have great potential to influence new buyers. Finally, it should be mentioned that the data was collected from those residing in Bangkok only and subsequently this may not be representative of the Thai population.
Keywords: Building; Residential; Thailand; Smart Condominium; Purchase Intention; Unified Theory of Acceptance and Use of Technology (UTAUT2); Consumer Perceived Value Theory.
THE DYNAMICS OF UNITED STATES (US) AND CHINA RELATIONS IN CYBERSPACE: STRUGGLE FOR POWER IN GLOBAL VIRTUAL WORLD IN BUILDING GLOBAL CYBER REGIME
by Mansur Juned, Arry Bainus, Mohamad Hery Saripudin, Nugraha Pratama
Abstract: Cyberspace as a virtual space which connects diverse actors across national borders has changed the shape of contemporary international relations and become a challenge for both decision makers and international relations scholars. Nevertheless, cyberspace also becomes a pivotal point for both US and China as two leading actors in contemporary global politics. We highlight the relations between those two countries in cyberspace as an arena to increase their power both through cooperation and competition especially during 2010-2015 and 2015-2018 based on the perspective of realism in international relations with the concept of cyberpolitics. The findings suggest that the complex dynamics of relations between US and China are determined the structure of global politics, high degree of non-state actors participation from both sides as well as different perspectives and interests on perceiving cyberspace. However, both countries are trying to use the virtual space as well as its complexity to increase their power. The intensifying of the dynamics between the two countries lead to power struggle in building the global cyber regimes regarding to their own values.
Keywords: US; China; cyberspace; cyberpolitics; international relations.
Entrepreneurial Behaviours of Final Year Students at Vocational College toward Interest in Entrepreneurship
by Hanifah Jambari, Siti Hajar Nur Atiesa Mohd Saupi, Ishak Taman, Nur Hazirah Noh@Seth, Mohamad Rasidi Pairin, Nurul Aini Mohd. Ahyan, Norulhuda Ismail
Abstract: The research was conducted to study the relationship between entrepreneurial behaviours with the interest in entrepreneurship among final year students at Vocational College. The objectives are focusing to identify the dominant entrepreneurial behaviours, a correlation between the behaviours with the interest showed among the students, analyses the students entrepreneurial behaviours based on the demography factors and identify the behaviours that lead to their interest toward entrepreneurship. The importance of this research also to facilitate students to choose the career that they are interested and enhance their interest in the entrepreneur field as their source of income. This study was a quantitative method where questionnaires were used as a research instrument. The total of 100 respondents were selected to answer the questionnaires. The sampling method used was purposive sampling. Analysing data was using SPSS software 18.0 to produce descriptive statistics such as frequency, percentage, min score, and standard deviation. Inference statistics involved was ANOVA one way and Pearson correlation. The finding of the research shows that the most dominant entrepreneurial behaviours are career function. The finding also found that there are no correlation and significance differences between entrepreneurial behaviours with gender, interest and study course among the final year students of Vocational College. The behaviours that contribute toward the interest in the entrepreneur field is the behaviour of goal formation. With this research, it was provided an input to the Ministry of Education Malaysia to formulate a curriculum which enables the student entrepreneurial skills as well as grow up the economy of the country over a longer period of time. In conclusion, the students of Vocational College have the potential to become entrepreneurs if their potential is nurtured and being polished.
Keywords: behaviours; entrepreneur; interest; Vocational College.
A Study on Influence Factors of Patchouli Oil Industry Development in Indonesia
by Dina Rahmayanti, Rika Ampuh Hadiguna, Santosa Santosa, Novizar Nazir
Abstract: This study aims to identify the primary factors and subfactors that affect the development of the patchouli oil industry in Indonesia. Fuzzy Delphi Method (FDM) is used to compile and classify the primary factors and subfactors of patchouli oil development in Indonesia based on seven expert evaluations, five experts from practitioners, and two experts from academicians. There are 13 main factors identified from a total of 16 primary factors and 37 subfactors identified from a total of 41 subfactors. From the result of the study, there are some critical factors in patchouli oil industry development in Indonesia. There are quality, total revenue, and markets as the main factor, as well as the distillation method, global patchouli standard price, and production cost, as a subfactor. From all of these factors, the quality of patchouli oil, which is influenced by the refining method, is a very significant factor in determining the development of Indonesia's patchouli oil industry.
Keywords: fuzzy delphi; patchouli oil industry; agroindustry development.
The Moderating Role of Internal Control System on the Impact of Tax Revenue on Economic Growth in Nigeria
by Mansur Lubabah Kwanbo, Augustine Ayuba, Muhammad Tanko
Abstract: This study examines the moderating role of internal control system on the impact of tax revenue (Oil tax and non-oil tax) on economic growth (Gross domestic product) of Nigerian, for the period 1994-2016. The studys approach is exploratory post positivism within a design that is ex-post facto in nature. Regression was employed as technique to analyse data extracted for the study. Findings revealed that internal control system mechanism ICS (control environment CE and Monitoring MO) moderates tax revenue for better economic growth. This implies tax revenues positive impact on economic growth. However, the effect of ICS on such impact is subject to prompt responses in the grey areas of tax revenue management which can be addressed by prompt submission of financial statements by the accountant general to the auditor general for audit.
Keywords: Tax Revenue; Economic Growth; Internal Control System.
Validation Construct items for the measurement model of Permit to Work using Exploratory Factor Analysis (EFA)
by Nizar Jusoh, Mohamad Wijayanuddin Ali, Tuan Amran Tuan Abdullah, Alias Husain
Abstract: The aim of this paper is to demonstrate how the Exploratory Factor Analysis (EFA) is utilised to validate Permit to Work constructs. The data for the study was obtained from the questionnaire survey distributed to 260 word leader and workers at Petrochemical Plant Kerteh, Terengganu. The EFA is the method to validate the items at respective construct of the measured variable. The items of the construct were developed prudently and carefully so that the items are measurable for the purpose of obtaining value of this measurement model. There are five constructs under Permit to Work (PTW), namely Work Description, Worksite Inspection, Hazardous Activity, Supporting Document and Close Out, was developed for the purpose of this study. After the EFA has been performed, it was found that all PTWs construct i.e. Work Description, Worksite Inspection, Hazardous Activity, Supporting Document and Close Out construct has satisfied the validity and reliability requirement and applicable for the study.
Keywords: Permit To Work; Occupational Accident; Exploratory Factor Analysis (EFA).
A review of the empirical literature on the determinants of insurers financial performance
by Ashwag Alsofiani
Abstract: This paper aims to provide a literature review in the field of the determinants of insurers' financial performance. The paper purposed to fill the gap in empirical literature concerning determinants of an insurer's financial performance. This paper took a qualitative approach to examine thirty scholarly articles from eighteen countries in four geographic regions. The results provided a list of seventeen common financial performance determinants found out of various studies. These determinants included fourteen firm-specific determinants (company size, leverage, liquidity, company age, premium growth, underwriting risk, tangibility, risk ratio, retention ratio, loss ratio, expense ratio, growth rate, claim ratio, and solvency margin) and contained three macroeconomic determinants (inflation rate, economic growth rate GDP and interest rate). Also, the results indicated that the return on asset (ROA) is the most financial measurements used as dependent variables. Furthermore, the results revealed that many of the empirical studies employed multiple regressions and it was discovered that the fixed effects model was an appropriate model. The paper is limited to published articles on financial performance determinants of the insurance sector only. The papers significance is in the provision of information for the researchers who are interested in understanding the determinants of financial performance and possible areas of future study. Further research can explore the impact of macroeconomic factors on a firm's profitability, such as inflation rate and gross domestic product. Adding more relevant variables as well as a larger sample that employ more sophisticated research methodologies.
Keywords: Financial performance; firm-specific; macroeconomic; determinants; insurers; literature review.
THE IMPACT OF WAGE AND MOTIVATION ON THE TAPPERS LOYALTY AS DETERMINANT OF PINE RESIN PRODUCTION PERFORMANCE AT PERUM PERHUTANI
by SANGUDI MUHAMAD, KHUZAINI
Abstract: This study is aimed to analyze the impact of wage and motivation on the tappers loyalty as the determinant of pine resin production performance at Perum Perhutani. Based on relevant literatures, this study developed structural model of those four variables, which are wage, motivation, loyalty, and performance. This model then was analyzed by SEM and SmartPLS v3. Data collection was conducted by applying survey methods that was spreading questionnaires to 60 tappers who taken proportionally in KPH Lawu. The result of analysis shows that wage influences loyalty positively & significantly, and loyalty influence pine resin production performance positively & significantly. Interestingly, wage does not influence motivation significantly, and motivation does not influence loyalty and pine resin production performance significantly. Therefore, this article provides the information for Perhutani related to how increase the tappers performance in producing the pine resin.
Keywords: Pine Resin; Production Performance; Performance; Motivation; Loyalty; Wage.
Research on Application of Computer Aided Translation to Translation Teaching
by Juan Lu, Noraffandy Yahaya
Abstract: This research aims to do contribution for the application of computer-aided translation technology in the traditional translation teaching in universities. Compared with the arduous manual translation, computer-aided translation can increase translation efficiency. The application of computer-aided translation to translation teaching can improve the teaching quality and meet the massive demand of translation job market. Based on the development of CAT technology and its experiment in modern translation industry, the necessity of applying CAT technology in translation teaching is convincingly proven, which is followed by the elaboration on the design of CAT teaching modules and the construction of CAT teaching system in this research. This research investigated the application of CAT to translation teaching, including designing teaching mode, using software and hardware, managing teaching files, storing teaching resources, establishing the translation corpus and so on, which have great significances to translation teaching and translation practice. Finally, a conclusion is made that only when translation education combining with CAT Technology, can translation education meet the demand of increasing translation market, and only by applying CAT technology in translation teaching in universities, can the translation education catch up with the development of the translation industry in this information age.
Keywords: computer-aided translation technology; translation teaching; machine-readable corpus.
Empowering Education Transformation Through IR 4.0: Efforts in Improving the Quality of Arabic Language Education
by Siti Nur Hadis A Rahman, Zaihan Ramli, Nor Afizah Bujang, Muhammad Talhah Ajmain @ Jima’ain, Asma Nurul 'Aqilah Mahpuz, Nur Razan Izzati Mohd Roslan, Ahmad Marzuki Mohamad, Aminudin Hehsan
Abstract: Education is one of the important aspects and it is becoming the most influential social institution in the society. With the curriculum transformation in Islamic Studies, Arabic language learning process at secondary level has been strengthened with the implementation of Integrated Dini Curriculum and it has made this curriculum more challenging. The impacts of Industrial Revolution 4.0 are not only on industrial sector and the electronic sector, but the education sector is also affected by it. The improvement of curriculum that has been implemented covers the learning aspects and teaching methods as well as the use of the latest technology. Technology evolves and changes over time and the Industrial Revolution is strongly related to modern technologys application. The main objective of this article is to identify the elements of Arabic language learning implementation amongst teachers and to oversee the challenges faced by the teachers in incorporating technology with Arabic Language teaching. This study used a qualitative methodology by collecting and assessing the information from previous studies such as researches, journals, articles and books. This study found that there were four basic elements related to the implementation of Arabic language learning in teaching and facilitating process. These four elements include teachers perception, preparation, practice and challenges in implementing and practicing this learning technique. Teachers are required to implement a new approach in PdPc process especially in Arabic language subject, in line with social changes that have been incorporating technology and Internet extensively. This paper will discuss more about Arabic language learning issues and trends in Industry 4.0s social changes in education by observing the teaching method that uses the current technology as well as suggestions in the effort to improve the teaching quality. Hence, this issue has to be addressed in compliant with Shariah to ensure the upcoming Industrial Revolution do not go to waste.
Keywords: Education; Arabic Language; Industrial Revolution 4.0; Efforts.
Mediation and Online Mediation in Family Disputes in Malaysia: A Comparative Study
by Nur Farahiyah Mohd Nasir, Zinatul Ashiqin Zainol, Shamsuddin Suhor, Muhamad Helmi Md. Said
Abstract: Both mediation and online mediation are mechanisms in resolving family disputes. The significant element to ensure successfulness in resolving family disputes is the attendance of the disputing parties. This article reviews the similarities and differences between mediation and online mediation in resolving family disputes. This paper highlights the aspects relevant to mediation, and online mediation such as the mediator, relevant legislation, advantages, and disadvantages. This paper is doctrinal in its approach, whereby library research and comparative analysis had been used. The significance of this paper is to differentiate mediation and online mediation in family disputes in Malaysia and may add literature. This paper then, concludes by proposing online mediation as another solution to the disputing parties who do not want to meet each other face-to-face to resolve the disputes.
Keywords: Mediation; online mediation; family disputes.
Management Control Systems as approach to improve the Quality Performance in Abu Dhabi Food Control Authority
by Ayman Al Armouti
Abstract: Abstract This research outlines the impact of the Management Control Systems, when implemented in the Abu Dhabi Food Control Authority, a Government organization, operating in Abu Dhabi. The problem statement has been discussed and a questionnaire have been prepared accordingly to identify the cause and the potential impact of the MCS in organizations such as ADFCA. 15 employees from ADFCA have been selected as the sample size for the quantitative analysis conducted for this research. In addition to that, recommendations have been made for the future developments of ADFCA.
Keywords: Management; Control Systems; Quality Performance; Control Authority; developments.
DETERMINANTS OF CUSTOMERS BUYING DECISION IN DIGITAL MARKET
by Md. Aminul Islam
Abstract: This research tried to find factors that influence customers buying decision in digital market platform. To do this research, with demographic analysis we followed regression analysis where 230 respondents responded who were acquainted with the digital market and media as well as buy often from the digital market. Among various variables, Shorter Delivery Channel, Available Compared Information, Return Policy of Defective Goods, Popularity of the website, Content of Websites, Products Diversification, Privacy, and Secured Payment Gateway are found to be foremost determinants of customer buying decision. For digital marketers, founded list of factors will work as key hub while planning their target market especially on those areas where most of the online purchase is made.
Keywords: Determinants; Customer; Digital Market; Buying Decision; influence.
Online Mediation in Resolving Divorce Matter: A Literature Review
by Nur Farahiyah Mohd Nasir, Zinatul Ashiqin Zainol, Shamsuddin Suhor, Muhamad Helmi Md. Said
Abstract: Online mediation was previously aimed to resolve online disputes. Nevertheless, it does not mean that online mediation could not resolve offline disputes, especially in cases that involve divorce matters. This article reviews the implementation of online mediation in resolving divorce matters in Maryland, Canada, and Netherlands. The purpose is of the study is for Malaysia to learn from the experiences of the following states in utilising online mediation to resolve divorce matters. The methodologies used in this paper are doctrinal and comparative approaches. The finding of this research reveals that the adaptability of online mediation in resolving divorce matters in Malaysia. Thus, this paper is concluded by suggesting that online mediation is a possible alternative that can be used to resolve divorce disputes amicably.
Keywords: Maryland; Canada; Netherlands; Divorce; Malaysia; Online Mediation.
Risk Assessment and Management Tools for Manual Handling Proactively in Making Paving Blocks
by Merry Siska, Afdhal Helmansyah Bakar, Vera Devani, Rika Taslim, M. Ihsan Hamdy
Abstract: This study conducted on a business unit which engaged in making paving blocks. Material handling in this case was still done manually. In the detail, there were several activities in less ergonomic work postures because the workers lift a heavy burden and do it repeatedly. This activity caused injury to workers involving musculoskeletal disorders (MSDs). Based on the Nordic Body Map from 4 workers, it showed that 14.81% did not get sick, 40.74% were somewhat ill, 36.3% were sick and 3.7 were very sick. In addition, complaints of pain occur in the neck, shoulders, back and waist. This study proposed the RAMP (Risk Assessment and Management Tools) method to identify and analyze work activities in order to know and assess the level of ergonomic risks. After the improvement was done, there was a reduction in duration in the moderate bending posture from 34.8 minutes to 25 minutes, very bending from 131.55 minutes to 95.8 minutes and also a reduction in frequency of lifting activities from 1000 times to 500 times. The reduction made the total score of the assessment change to 74.20.
Keywords: nordic body map; manual material handling; musculoskeletal disorders;risk assessment and management tools;RAMP.
Special Issue on: IC-BBS 2019 Interacting Business and Behaviour Studies Using Interdisciplinary Approaches
Is Information Asymmetry the Ground of Investor Sentiment in the Indonesian Capital Market?
by Liliana Inggrit Wijaya, I. Made Narsa, Andry Irwanto, Rahmat Setiawan
Abstract: Information asymmetry premium is used to get an answer to what underlies the emergence of investor sentiment on dividends on the capital market. Previous researches are only able to prove that dividend premium, which acted as investor sentiment on dividend, affected dividend policy. However, the conditions underlying the emergence of investor sentiment on dividends have not yet been answered. This research aims to prove that investors do put sentiment toward companies who pay dividend because dividend payers information asymmetry is higher than dividend nonpayers, and vice versa. This is supported by the fact that information asymmetry in emerging markets (including Indonesia) is really high, because of how low the information transparency is.
The data used include all listed firms in Indonesian stock exchange in 2010-2017 (3.519 firm years). This research uses binary logistic regression and panel least square, whereas the data that are being used are unbalanced. The results are able to prove that information asymmetry premiums can replace dividend premiums in confirming investor sentiment on dividends toward the propensity to pay dividends. With this research, it is proven that dividend premium is a subset of information asymmetry premium. The results of this research also prove that the firms basis for dividend payment is not from fundamental values, but instead, it was driven by investor sentiment that was formed because of the high information asymmetry.
Keywords: dividend premium; sentiment investor; information asymmetry premium.
Why Participate in Tax Amnesty? The Case of the Indonesian Individual Taxpayer
by Arie Pratama
Abstract: Tax amnesty is a practice conducted by the government globally to raise tax revenues. This article presents several factors that affect the decision of the Indonesian taxpayer to participate in tax amnesty. These can be separated into three groups: (1) sociological; (2) psychological, and (3) demographic factors. This study employed a quantitative exploratory approach, with 109 individual taxpayers selected as a sample. Data were collected using a questionnaire and analysed using a logit regression model. The results showed that three factors affected taxpayers decisions to participate in tax amnesty: a high level of trust in government, and taxpayers behaviour and belief. Female taxpayers, new taxpayers, those with high income, and those with high knowledge tend to participate in tax amnesty. These results implied that it is important for the government to make a business-friendly policy and promote tax as an instrument for development, to enhance taxpayer behaviour and perception.
Keywords: Indonesia; tax amnesty; sociological; psychological; demographical; tax compliance.
Special Issue on: ICSSB 2019 Sustainable Practices in the Global Business Environment
Understanding Associations between Big Five Personality Traits, Multiple Dimensions of Wellbeing and Sustainable Development
by Pooja Soni, Kanupriya Bakhru
Abstract: Sustainable development (SD) has been the focus of environmentalists, academicians, policymakers and, economists in designing innovative thinking instead of traditional methods to be ecologically sensitive and adaptive. SD and wellbeing together have been closely interlinked in the past literature but the relationship between multiple dimensions of wellbeing and SD in presence of personality traits is missing. The conceptual framework presented provides directionality between three dimensions of wellbeing (hedonic, eudaimonic and social) and SD. The framework proposes a bidirectional relationship between SD and wellbeing of an individual. The paper also points to the role of academia and higher education teachers in process of SD. Personality traits come out to be a strong predictor of all dimensions of wellbeing as well as sustainability efforts from an individual level. The findings have relevance in designing sustainable public policy, education curriculum at institute level, personality modulation programs and community-oriented indices.
Keywords: Wellbeing; Hedonic; Eudaimonic; Social; Big five personality traits; Sustainable development; Teachers.
S-commerce: Perception Analysis Using PLS-SEM
by Satinder Kumar, Kamaljeet Kaur
Abstract: Social networks on the internet by the advancement of Web 2.0 technologies develop new ideas for companies. This is mostly because of the development of social networking sites, which has also developed e-commerce. The current growth in e-commerce opened a new stream, entitled social commerce, which is using social technologies to form an environment for creating social dealings. These social relations can drive online social support in e-commerce, which in turn is building trust and an increased intention to use social commerce. This research based on literature from marketing and information systems (IS) the author proposes a new model to develop our under-standing of social commerce using a PLS-SEM methodology to test the model. Results show that Web 2.0 applications are attracting individuals to have interactions as well as generate content on the Internet. Consumers use social commerce constructs for these activities, which in turn increase the level of trust and intention to buy.
Keywords: Social commerce; Social commerce construct; Trust; Purchase intention; PLS-SEM.
Relationship between employees psychological capital and creativity: The mediating role of creative self-efficacy and positive affect.
by Yogesh Upadhyay, Dharmendra Kumar
Abstract: Creativity and innovations are the barometers of the development of any society. Multitude of recent developments like convergence of technology, rapid integration of artificial intelligence & machine learning in business processes, hyper competition, erosion of geographical boundaries and others, are cut shorting product life cycle. To withstand these challenges companies have put themselves on innovation fast track in order to remain sustainable and relevant. To this end, companies either look outwards by merging with and/or acquisition of intellectual property rights/innovative companies or furthering in-house innovation potential. One of the keys towards developing in-house capability for innovation is the creative faculty of employees serving with an organization. Therefore, companies are attempting to create an eco-system where creativity of employees can thrive and further their journey towards innovation.
The present study is an attempt to understand how an organizations employees creativity is affected by an interplay of their psychological capital, creative self-efficacy and positive affect. In this line, we hypothesized that the effect of psychological capital on employees creativity is parallelly and partially mediated by creative self-efficacy and positive affect. The outcome suggests a significant partial mediation by creative self-efficacy and positive affect. The outcome is based on the cross-sectional study that was conducted on 392 employees working in insurance industry in Delhi/NCR, India. The implications of the study are discussed.
Keywords: Creativity; Creative Self Efficacy; Psychological Capital; Positive Affect.
Combating Gender Inequality and Shortage in Indian Armed Forces
by J.S. Minhas
Abstract: The women are participating in all the sphere of life along with men in the modern age. In the armed forces women are performing different roles, responsibilities and duties. The current study will evaluate the shortage of Indian women officers in the armed forces especially in the combat role and their percentage of strength with respect to their male counter parts. Presently Indian armed forces are giving commission to women officers in all branches except combat related roles. The other nations in the world had already started inducting women even in combat role. Indian Air Force has also inducted three women officers as fighter pilots who are under training as on date. The Indian Army and Navy are also contemplating to induct women in the combat role in near future. The study also investigates the gender inequality gap in the total strength of Indian armed forces officers.
Keywords: Indian Armed Forces; India; Women; officers; Combat Role; Gender Inequality.
Employee engagement and its predictors: literature review and a proposed model
by Raminderpreet Kaur, Gurpreet Randhawa
Abstract: Success stories of burgeoning business organisations have been made possible by the contributions of engaged employees. Engaged employees express themselves physically, emotionally, and intellectually while performing their roles in the organisation. This study endeavours to examine the concept of employee engagement through literature review. In addition, the study endeavors to identify the key predictors of employee engagement. Based on a review of existing literature, six hypotheses have been posited which show the relationship between employee engagement and its predictors. Also, the study advances a theoretical model depicting predictors of employee engagement which include leadership behaviour, organisational culture, work-life balance, and rewards and recognition. The findings of the present study have practical implications for human resource managers through formulating and implementing human resource policies, strategies, and practices for enhancing employee engagement of the employees.
Keywords: predictors; employee engagement; leadership behaviour; organisational culture; work-life balance; rewards and recognition; model.
Relative influence of media and e-WOM on purchase intention of green products
by Mansi Khetarpal, Sapna Singh
Abstract: With the evolution of robust settings for development, the world is documenting deteriorating environment and human health resulting in increased focus on the consumption activities. Therefore, marketers are trying to push consumers towards the consumption of eco-friendly products. Studies have also shown that there is a substantial influence of word of mouth (WOM) on the consumers purchase intention. The purpose of this study is to determine the relative influence of media and e-WOM on the purchase intention of consumers towards green products. The Data has been collected from the students of a University in Hyderabad through survey method. The findings of this study showcase that both media and e-WOM are significant factors impact the purchase intention towards green products through the mediating role of attitude. However, the influence through e-WOM is more compared to the media. These results provide useful implications to the marketers in leveraging the source of influence to promote the purchase of green products.
Keywords: media influence; e-WOM; purchase intention; green products.
Special Issue on: CU-ICE 2019 Entrepreneurship, Disruptive Innovation and Sustainability
Disruptive Innovation, Fourth Industrial Revolution and Sustainable Entrepreneurship policy: Lessons for Nigeria from the experiences of EU and Australia
by Oyebanjo Ogunlela
Abstract: Disruptive innovation is used to transform business globally, with much research recently conducted in the area of disruptive innovation and sustainable entrepreneurship. However, much is still required where skills development in disruptive innovation and sustainable entrepreneurship is concerned, especially in Nigeria. Europe, Australia, America and a few Asian countries are among those countries where legislation and policies have been developed and implemented, in order that firms may embrace disruptive innovation to improve sustainability. This article examines how Europe and Australia have encouraged sustainable entrepreneurship and the manner in which this can be adopted in Nigeria, through disruptive innovation and a fourth industrial revolution (4IR) policy. Positive and negative effects of a sustainable entrepreneurship implementation approach are explored. It is debated whether, in the light of international experience, the policy on disruptive innovation and 4IR could be considered in Nigeria and plausibly be applied under the present infrastructure dispensation.
Keywords: Entrepreneurship; Sustainability; Policy; Disruptive innovation; Nigeria.
Perceptions of Generation-Z Towards Entrepreneurial Risks Within the Maritime SMEs in South Africa
by Job Dubihlela, Phyllis Chikwati
Abstract: Maritime SMEs play a key role in South Africas results-driven approach to economic development, involving various stakeholders, code named Operation Phakisa; whose main agenda is to address the triple challenges of poverty, unemployment and inequality. A quantitative research approach was conducted to collect data by way of a structured questionnaire. The purposive snowball sampling method was used to identify the sample of Gen-Z employees working in selected maritime SMEs in Cape Town. Participants were identified through their friends and from the alumni records at a local university from which they graduated. Gen-Z acknowledges maritime SMEs as exposed to substantial amount of entrepreneurial risks, deterring overall entrepreneurial performance especially from the technological perspective. Gen-Z perceives the risk appetite of younger employees as a solution to the development of eco-entrepreneurial sustainability of maritime SMEs. In spite of their lack of experience, they think they have information at their fingertips; and that they are increasingly aware of social issues and related environmental risks. The results also indicate that although maritime SMEs have written policies that incorporate optimum levels of training on ecological importance, poor ethical standards are still prevalent within their operational environments. Surprisingly, Gen-Z perceive social environment as an important factor to them within the business community. The findings in this study supports ongoing body of research that project Gen-Z as having potential to seize opportunities, find solutions and possibly help eradicate vulnerability issues and enhance entrepreneurial risk mitigation. This paper adds value to the domain of Gen-Z and maritime SMEs focused on the ocean economy, and also propose possible future studies.
Keywords: Eco-entrepreneurship; Environmental risks; Generation-Z; Maritime SMEs; Oceans economy; South Africa.
Competency-Based Entrepreneurship Education: Analysis of the Disruptive Innovation Theory in African HEIs
by Bridget N. Irene, Abdullah Promise Opute, Ayodotun Stephen Ibidunni
Abstract: As a direct consequence of new modes of teaching, higher education has evolved tremendously leading to innovative scholarships that unsettle established institutional structures and academic practices. Within the African context, entrepreneurship is gaining increasing mention as a discipline at HEIs given the potential employment and GDP contribution benefits. Recently, a curriculum delivery shift from traditional coursework to a variety of experiential learning options seems to be the trend. In this high-quality, personalised approach, the focus is not only on the level of competency achieved by the student but also on validating the learning experience. Aiming to contribute to knowledge in this area, the purpose of this paper is twofold. First, it evaluates the impact of innovative learning initiatives on the current model of entrepreneurship education. Second, it highlights organisational factors and change management practices that facilitate effective adoption of CBE by HEIs.
Being qualitative, this study reviews literature on innovative entrepreneurship teaching approaches; considered along with competency-based education and pedagogy in the HEIs; and the four elements of the disruptive innovation theory. Towards facilitating disruptive innovation that transforms entrepreneurship education; relevant recommendations are offered for policymakers.
Keywords: Competency-based Entrepreneurship Education; Disruptive Innovation; Entrepreneurship Education; and Higher Education Institutions (HEIs).
DEMYSTIFYING LEARNING CULTURE AND INNOVATION PERFORMANCE OF PROFESSIONAL FIRMS IN NIGERIA
by Tolulope Atolagbe, Rowland Worlu, Anthonia Adeniji, Salau Odunayo, Mercy Ogbari, Stephen Ibidunni, Maxwell Olokundun, Hezekiah Falola
Abstract: The business environment is changing rapidly as a result of the digital age. Creating learning culture within the organisation empowers the employees to easily anticipate and adapt to changes within the organisation, be more responsive to the market place, be goal oriented and grow through innovation. Whilst the need for organisations to constantly adapt to change and come up with training courses and new tasks/responsibilities to enable the employees have the opportunities to develop new skills or build on existing ones have become worrisome and unabated. This has made firms, especially the professional firms to still be faced with challenges of learning culture complexities. Therefore, this study assessed the role of learning culture on innovation performance of the selected professional firms in Nigeria. This study was descriptive in nature. The study adopted a mixed method (Sequential explanatory approach) to get information from 328 employees among the professional firms that were conveniently and purposively selected. The use of questionnaire (quantitative) and structured interview (qualitative) were adopted. The quantitative data were analysed using Structural Equation Modelling (SEM) to obtain results, while the qualitative data were subjected to thematic analysis. The findings indicated that the selected professional firms applied new learning in their jobs and also support learning through their words and actions. Based on the above, the selected firms should have opportunities to apply new learning to improve workers competencies (experience, skill, and attitude) and to keep up with changes within the organisation or from an outside environment.
Keywords: Learning Culture; Innovation; Performance.
Special Issue on: ICBF-2019 Recent Trends and Innovations in Banking and Finance
The Interaction of Rate Schedule & Tax Revenue: An Evaluation of the Laffer Effect
by Arun Sharma, Jaspal Singh
Abstract: Taxes have been an indispensable entity for governmental revenue. While indirect taxes help finance the resources quickly, greater reliance over them tends to be distortionary both on economic and political front. Hence, there has been an increased desire to generate the required revenue resources through direct taxes especially through personal income taxes. However, the question of enforcing compliance for personal tax law has been an Achilles heel for the governance structures around the world. The principal focus of tax reforms henceforth has been on the moderation of personal income tax rates in the anticipated belief that it is high tax rates that inhibit effective compliance. The present study is an attempt to examine the said relationship between tax rate and income tax revenue in the Indian context. The statistical results upheld the applicability of the laffer effect in the Indian context. The findings provide suggestive responsive measures for the policy makers and practitioners.
Keywords: Laffer curve; Income tax; Tax responsiveness; Public finance.
Are bitcoin prices isolated or co-integrated?
by Vishal Vyas, Kiran Mehta, Renuka Sharma
Abstract: The tradability of bitcoins across globe and on virtual platforms has made it acceptable as an investment avenue (Polasik et al., 2015). The bitcoin markets have shown the sign of slow adjustment of disequilibrium error which means it is significantly affected by stochastic shocks (Cheah et al., 2018). A few studies in past have tried to state relation between bitcoins and macroeconomic variables. Also, in some of the recent studies, the relevance of bitcoin to hedge against currency and equities is discovered. The study under consideration has made an attempt to obtain empirical evidences of relationship between bitcoin price series and exchange rate of four currencies in terms of US Dollar, i.e., relation between bitcoin price in terms of USD and exchange rate of EURO-USD, BRITISH POUND-USD, USD-JAPENSE YEN, and USD-KOREANWON.
Keywords: Bitcoin; cryptocurrency; Exchange rate; cointegration; VAR; IRF; Variance Decomposition.
Do Central Bank Actions Curb Exchange Rate Volatility?
by Abdul Rishad, Sanjeev Gupta
Abstract: Floating exchange rate regime experience in India has always been about central banks regular interventions through purchase and sale of foreign exchange assets. However, in recent years, this intervention has intensified because of lumpy capital inflow, seemingly signalling a bias in the direction of defending appreciation pressure. This study measures the effectiveness of intervention and its episodic change and its consistency by dividing the data into three sub-sample episodes. For this, it uses a GARCH (1,1) model with weekly data on exchange rate, intervention and interest rate from April 1995 to December 2018. The results suggest significant influence of purchase intervention on exchange rate level as compared to that of sale intervention. Similarly, liquidity injection operations increased volatility, while liquidity absorption activities decreased it. Overall, the study presents empirical evidence for leaning against the wind and fear of appreciation policy in RBIs intervention operation.
Keywords: Exchange Rate; Central Bank Intervention; Foreign Exchange Market; RBI; Rupee Volatility; Fear of Appreciation; Leaning Against the Wind.
A Test of Weak form of Efficient Market Hypothesis in Indian Stock Market using Momentum and Contrarian Effect
by Ramandeep Kaur, Rubeena Bajwa
Abstract: The current study intended to analyze efficiency of Indian stock market. The portfolios (momentum and contrarian) were framed over the eleven years study period i.e. from April 2006 to March 2017 using monthly returns of BSE 500 listed stocks. The mean cumulative abnormal returns (MCAR) of different Winner and Loser portfolios were calculated. Portfolio performance was analyzed on the basis of formation and holding periods being set at three,six, twelve and thirty- six months. Weak form efficiency was tested by using serial correlation, unit root, runs test and variance ratio test etc. The findings indicated that all single sorted portfolios could generate abnormal returns. Overall results of the study verified that by focussing purely on the past price information, Indian investors were able to earn abnormal returns in the stock market The results of the study will be a potential source for portfolio managers who are utilizing or endeavoring to utilize to use the momentum and contrarian investment strategy.
Keywords: momentum; contrarian; efficient market hypothesis; Indian stock market.
Corporate Governance and Performance of Indian Companies: The Effect of Board Size and Ownership Structure
by Renuka Sharma, Archana Goel
Abstract: During the recent years, lot of scams happening in the companies has provoked the interest among the public pertaining to corporate governance issues. This requires significant changes to be made in this area so that the performance of the companies can be advanced. The current study has tried to accomplish this by scrutinising the effect of board size as well as ownership structure on the performance of 229 companies over the duration of 16 years i.e. 1st April, 2001 till 31st March, 2017. Performance is gauged via Tobins Q and Return on capital employed. Various dummy and control variables are used to develop a model. Panel data regression is applied to analyse the data. The above association is further tested via moderating variables. The study found affirmative effect of board size, promoter and institutional holdings on the performance of the companies. The study has implications for companies, institutions and regulators.
Keywords: Board size; Ownership structure; firm performance; corporate governance; promoter holdings;.
Service innovation and delivery as antecedents of satisfaction and loyalty: A study of Indian Retail Banking
by Ishfaq Hussain Bhat
Abstract: The increase in competition, changing lifestyle, and rapid technological shift in the global business environment has led to the adoption of innovations in order to survive in the market. The aim of this study is to examine the role of innovation in the service delivery, satisfaction and loyalty of Indian customers in the banking sector. The conceptual framework grounded on theories was drawn to test the stated relations. A sample of 400 bank customers who had availed innovative services was chosen with the help of purposive sampling technique. The findings of the study reveal that service innovation has a direct impact on service delivery and satisfaction. Moreover, it was found that there exists a positive relationship between service delivery, satisfaction and loyalty in the banking sector of India. The findings of the study help to understanding the innovative management practices in financial services in emerging economies like India.
Keywords: Innovation; Satisfaction; Loyalty; Technology; service delivery.
CAUSALITY BETWEEN EQUITY MUTUAL FUND FLOWS, STOCK MARKET RETURN AND VOLATILITY: INDIAN EVIDENCE
by Inderjit Kaur, Kamal Vagreach
Abstract: The investor sentiment in an economy can be reflected through stock market performance and volatility. Retail investors usually participate in stock market through equity mutual funds. Thus, flow in equity mutual funds may be a reflection of investor sentiment for economy or in turn, may affect stock market performance and volatility. Therefore, this study examines causal relationship between equity mutual fund flows, and stock markets performance and volatility with Vector Auto Regression (VAR) methodology. We examined data on aggregate equity mutual fund flows and NIFTY-50 index of National Stock Exchange during time period of 2003-2018. We first examined causal relationship between flows, stock market return and stock market volatility as structural system. We, then, controlled the effect of market fundamentals variables such as trading volume, P/E ratio, exchange rate, and short-term interest rate. The findings provide that stock market returns Granger causes mutual fund flows. There is short-term memory for stock market returns, volatility, and mutual fund flows. The mutual fund flows react to memory of stock market returns even at lag of 5 days. Mutual funds flow though are driven by stock market returns but cause stock market volatility. The findings are robust to presence of market fundamentals. The important implication of study is explanation of confidence among Indian investors (in year 2018) for equity mutual funds. The strong fundamentals of stock market drive investor sentiment and hence equity mutual fund flows. But entry and exit from mutual funds affect stock market volatility. Thus, it is important that investors remain invested in stock market to lessen stock market volatility.
Keywords: Mutual Funds; Stock Market; Volatility; EGARCH; VAR; Causality.
How mobile banking resistance behaviour affects financial inclusion in India?
by Kiran Mehta, Asha Rani
Abstract: Mobile technology revolution will contribute greatly to financially include the largely unbanked strata of Indian society. The increasing number of wireless connections and relatively low score of financial inclusion in India attract the attention towards a specific segment of potential mobile banking users who are having mobiles but not mobile banking. The mobile banking can also cover these nooks of the country, which were not covered by the manual or branch banking. The current study addresses two research questions. One, what are the factors of resistance behaviour for use of mobile banking? Two, what is the impact of mobile banking resistance behaviour on financial inclusion? The study is unique in terms of it has made an attempt to examine the impact of mobile banking resistance behaviour on the financial inclusion.
Keywords: Mobile Banking Resistance; India; Financial Inclusion; Mobile Banking; Logistic Regression; EFA and CFA;.
DEMOGRAPHIC DETERMINANTS AND PREFERENCE TOWARDS DIVIDEND ANNOUNCEMENTS-A STUDY OF SELECTED INDIVIDUAL INVESTORS
by DINESH TANDON, Nidhi Walia
Abstract: There have been significant changes in the economic environment due to radical reforms and increased competition has exposed investors to plethora of information and investment opportunities. One such crucial information based on which investments are made is dividend announcements. In endeavour to provide in depth knowledge about psyche of investors toward dividend announcements an attempt has been made through this paper. The purpose of this paper is to analyse the effect of demographic determinants on the preferences of individual investors regarding dividend announcements in Punjab (India). Based on a sample of 500 individual investors, one-way ANOVA, t-test and levenes test was conducted to find out which demographic variables were associated with the individuals preferences regarding dividend announcements. The results of the research show that preferences of investors varies/differs on the basis of factors such as age, marital status, occupation, income and education. The findings of the study have implications for policy makers and financial service providers. Though, the demographic and their preferences regarding dividend announcement have been extensively researched in the literature globally as well as in India, there has been scant empirical research on the financial consumer preferences in Punjab. This study fills this gap and is the first of its kind on the preferences regarding dividend announcement of investors in Punjab
Keywords: Dividend announcements; Investor preferences; Demographic factors; Association of variables.
COMPARING SERVICE QUALITY OF INTERNET BANKING SERVICES IN RURAL AND URBAN AREAS OF PUNJAB
by Amandeep Singh, Jyotsna Sharma
Abstract: Dynamics of Internet banking has a noteworthy effect on everyone. Internet banking service has gained huge importance over the last few years. It is not limited to branches only, like old times. The progress in the field of information technology has updated and restructured the banking style to a large extent. In the present time, a customer can avail any kind of internet banking transaction online without any visiting branch at any time. Customers expect easy going facilities which can solve their purpose and save their time as well. Banks and service providers are in tough competition with each other to offer a better quality of services to customers. It becomes legitimate for banks to provide superior and improved Internet banking services to customers for a long time. This research tries to study the service quality of the Internet banking service across different regions of Punjab state. Banks and online service providers are investing a lot of money to outshine in the field of the service industry. So, it becomes important to study the potency and quality of internet banking services being offered to internet service customers. The purpose is to study whether there exists any difference in services quality offered by banks across rural and urban areas. The objective of the present research is to compare the service quality of Internet banking services in rural and urban areas of Punjab. There are numerous Internet banking services offered by Banks. It is not easy to measure and study the entire services. But the effort has been made to study the maximum available and used Internet Banking services. The random sampling is used to select the sample units from different cities of Punjab. Descriptive statistics and t-test are employed in the study. As a result, it has been found that there exists a significant difference between rural and urban areas customers for different types of transactions through Internet banking.
Keywords: Internet; Service quality; Internet Banking services; Rural and Urban Punjab Banking.
Examining the Relationship between Management Quality Certifications and Long-run Performance of Initial Public Offerings: A Study of Banking, Financial Services and Insurance (BFSI) Sector in India
by Balpreet Singh, Kapil Gupta
Abstract: In this study an attempt has been made to examine the aftermarket performance of IPOs in the Banking, Financial Services and Insurance (BFSI) sector and its relationship with management quality certifications in India. From a sample period of 11 years, mean listing day market adjusted excess returns are observed at 27.86%. Furthermore, it is observed that long-run underperformance of IPOs using buy-and-hold returns is present during the holding period of 36 months. In addition to this, regression analysis depicts professional association of board members significantly influencing IPO performance, whereas, education level of board members, presence of foreign directors and directors diversity moderately influence the long-run performance of sample public issues.
Keywords: Banking; Financial Services and Insurance (BFSI) sector; Long-run Performance; Initial Public Offerings (IPOs); India.
Factor influencing Leveraging Decision of Indian companies: Evidence from Panel Data Analysis
by Kanika Sachdeva, Abhishek Agarwal
Abstract: In todays competitive environment an organization have to take lots of crucial financial decisions, a single wrong decision may lead to a huge cost to company. Identifying the various sources to raise funds is amongst one of the crucial activity. Every company is free to decide an optimum mix of debt and equity in order to maximize their value. Therefore, it is essential for the companies to focus on factor influencing the leveraging decisions. Against this background, this paper examines the factors influencing the leveraging decisions of 100 Indian companies representing BSE-100 index during financial year 2008 to 2018. Leverage has been used as dependent variable whereas, size, profitability, tax, investment opportunities, tangibility, risk, cost of debt, and liquidity are used as independent variables. The analysis of the current study have been carried out using panel data analysis in two stages, stage one considers all the companies and in stage two analysis, all companies are divided in two groups on the basis of their age. Also, the panel data set has been tested for autocorrelation and hetroscedasticity. The data set was found to be free from autocorrelation and hetroscedasticity. The study concluded that all factors except tangibility are significantly impacting the leveraging decision in all companies. In the case of companies who are into existence for more than 40 years, all factors are significant except liquidity whereas, all variables are significant except for profitability and tangibility in the case of companies which are into existence for less than 40 years.
Keywords: Leverage; Panel Data; Bombay Stock Exchange; Indian Companies; Equity; Debt; Liquidity.
A Study of DuPont Model: Its Application and Identification of Key Determinants for Public Limited Companies
by SMITA JAPE, MEENAKSHI MALHOTRA
Abstract: DuPont model is a very significant tool to analyse the financial evaluation of the organisation. It takes into account the three important parameters turnover, liquidity and profitability of the organisation. The foremost objective of this paper is to explore and validate the different components of the DuPont model for public limited companies for the time period 2009-16 for 13189 companies. The data has been analysed using ratio analysis, indexation, common size statement, correlation analysis and multiple regression. The results of the study show that return on capital employed (ROCE) is the most important parameter of return on equity (ROE) which is significantly influenced by margin of safety, Profit volume ration(P/V ratio) and asset turnover ratio. Out of these three,the most significant factor is margin of safety (MOS). ROE is more sensitive to profitability as compared to turnover and leverage. The analysis and validation of DuPont is useful for financing, operating and investing decisions for any organisation.
Keywords: DuPont Model; Liquidity; Public Limited Companies; Return on Capital Employed; Return on Equity; Validation.
Special Issue on: Entrepreneurship, Innovation and Leadership in Emerging Markets
Management Innovation: Literature Review and Research Directions
by Shiv Shankar Kumar Yadav, Ashish Dubey
Abstract: Management Innovation as a concept has been in inception from the times of 1960s but down the years, the emergence of this concept as an independent entity has not happened well. Concerning the strategy literature, it has been identified as an important aspect of firms performance. Moreover, in literature, its association with Technical Innovation can easily be witnessed. Therefore, due to this frequent overlap in various management domains the original meaning of Management Innovation has gone to latency. In the desire of harnessing a competitive position for the organizations however, the Management Innovation concept has been used in many avatars but as apparent from the past literature, its real essence seems to have been forgotten. Keeping these concerns at the center, this paper aims to discuss Management Innovation as a core concept, its characteristics, various affecting variables, researches done so far, and lastly some directions for research in the field of Management Innovation. The research methodology used is the rigorous literature review keeping organizational context at the center. The study is of significance to policy makers for taking informed decisions and for researchers for further investigations.
Keywords: Management Innovation; drivers; roles; external environment; literature review.
Managing Indian Universities-Need of Single National Regulator of Higher Education
by MANISH ROHATGI, MEENU GUPTA
Abstract: The research paper is based on analysing the management and regulation of higher education in India. University Grants Commission (UGC) a prime regulator has an obligation to recognize any University established and incorporated under Central or State legislature or Provincial Act under Section 2 (f) or under section 3 of the UGC Act 1956 recognized by Central Government as deemed to be University. The only penal power under its ambit is it either can impose a meagre penalty U/s 24 of UGC Act, 1956 or can prohibit financial aid from Central Government to the University U/s 12 (B) of the said Act as a result many Universities are making mockery of the system, being governed by their own Rules and Regulations these Universities are misleading the students and playing with their careers. It is evident from Supreme Court of Indias recent order in case of Orissa Irrigation Lift Corp. Ltd v. Rabi Shankar Patro & Ors1 cancelling the Engineering degrees granted by three deemed Universities JRN Rajasthan Vidhyapeeth University, Udaipur, Vinayaka Mission Research Foundation, Salem, Tamil Nadu and IASE Deemed University, Rajasthan through distance education mode between 2001 to 2005 without any approval. University Grants Commission is spineless and ineffective as national regulator of higher education so as other Regulators such as All India Council of Technical Education (AICTE), Bar Council of India (BCI), Medical Council of India (MCI) etc. Recently, Ministry of Human Resource Development in late June floated the Higher Education Commission of India (HECI) Bill, 2018, to repeal the seven-decade-old University Grants Commission (UGC) Act, 1956.The bill was revised as HECI Bill, 2019 in August 2019.
Keywords: Higher Education; Students; Regulators; University Grants Commission; All India Council of Technical Education; Bar Council of India; Medical Council of India; Ministry of Human Resource Development.
ROLE OF SUPERVISOR, CO-WORKER SUPPORT, SOCIAL NETWORK AND GROUP COHESIVENESS ON EMPLOYEE INTENTION TO STAY
by INDRANIL MUTSUDDI, Chandranshu Sinha
Abstract: Employee retention perspectives have become an issue of concern for most organizations keeping the plethora of changes occurring in the business landscape. Considering this, it has become imperative to understand the factors especially social factors that govern employee intention to stay in organizations. The study explores the implication of social factors like supervisor support, co-worker support, social network, and group cohesiveness on employee intention to stay in Information Technology firms in and around cities in North India. Earlier researches have been conducted exploring the role of contextual factors on employee retention mostly in overseas perspectives, leaving grounds for further research particularly in the Indian context. Findings of the study indicate that group cohesiveness mediated the relationship of coworker support and social network with employee intention to stay. Supervisor support on the other hand, had significant influence on employee intention to stay, apart from influencing social network and coworker support.
Keywords: Social factors; Employee Intention to Stay; Supervisor Support; Coworker Support; Social Network; Group Cohesiveness; Information Technology Organizations.
DAY OF WEEK EFFECT: AN EMPIRICAL STUDY FOR INDIAN STOCK MARKETS
by Vanitha Chawla, Manjula Shastri
Abstract: The present study examines empirically the presence of day of week effect in Indian stock markets. The paper investigates the stock returns and volatility of Indian markets for the period from 2009 to 2018, using OLS regression, GARCH (1,1), EGARCH (1,1) and TGARCH (1,1) models. The results indicate presence of positive Monday effect which are not due to equity market risk. The study found weak Wednesday effect for small cap companies. The returns of Wednesday are volatile than any other day of the week.
Keywords: day of week effect; stock market; GARCH (1,1); volatility.
Repositioning Industry R&D units into Tertiary Education Research Laboratories
by Stephen Oluwatobi, Adedeji Afolabi, Patience Tunji-Olayeni, Afolashade Oluwatobi, Onyeka Emebo
Abstract: Research and Development (R&D) play a crucial role in the development and sustainability of many economies. Therefore, World leaders in developed and developing countries have consciously engaged R&D activities to improve their cities, standard of living of its citizenry and installation of adequate military defence systems. Global spending on Research and Development (R&D) has reached a high of almost US $1.7 trillion dollars as at 2017. The study posits that public and private firms can reposition its R&D units into research laboratories in tertiary institutions which can result in mutual benefits for both institutions. With dearth of funding, the financial capacity of industries apportioned for R&D can be invested in educational research laboratories. The study showed how industry R&D units can be interpolated with existing tertiary education research laboratories by developing a framework for successful integration and migration. In addition, the study showed that there are drivers that can facilitate the collaborative framework between Industry and education research labs. However, there are barriers to the engagement of tertiary education research labs as a replacement to or complementary of the industry R&D units, these must be surmounted. Since research is the bedrock of most tertiary institutions, the study argued that with a well-developed framework there are mutually exclusive benefits for the industry and tertiary institutions. By repositioning tertiary education research labs to cater for industry needs, quality, capacity and funding can be increased.
Keywords: Collaboration; Industry; Research and Development; Research Laboratories; Tertiary Education.
Use of Social networking sites for B school marketing: An empirical
by Ravneet Bhandari
Abstract: B schools in India have grown rapidly from the past few years. Perhaps social networking sites are also considered to be a viable discourse medium between B school administrates as well as existing and prospective students; pragmatic examinations of how social networking sites are utilized by B schools for marketing is limited. In view of the "6Cs" of Social media
Observing the conceptual model, this investigation analyzes how B schools circulate data, connect with social networking users, and impact the admission choices of potential students. Discoveries show that social networking sites performed well in keeping up user awareness and relationship management, in spite of the fact there is scope for social networking sites to be utilized for enhancing student association, connection, and assemble user insights. The investigation examines approaches to enhance B school marketing utilizing social networking sites.
Keywords: B schools; Marketing; Social networking sites; Communication; Online marketing.
Special Issue on: VCBMC-2019 New Paradigms in Consumer Behaviour and Marketing
Awareness and willingness to pay for herbal products among young consumers in Punjab
by Pooja Kansra, Amiya Abdul Khadar
Abstract: Herbal products play a major role in food supplements and personal care. Herbal products have become a promising industry with a huge growth potential. The present study examines the awareness and willingness of the young consumers towards the herbal products. A structured questionnaire based survey was performed in the state of Punjab, with a multi-stage stratified random sample of 400 respondents. It was estimated that 78 percent of the respondents were aware of the herbal products and 68 percent were willing to pay for the herbal products. Logit regression revealed that income, education, age, occupation, awareness of herbal products, price and reputation of the company were the significant determinants of willingness to pay. The present study will help the producer or suppliers of herbal products to design appropriate strategies to bring new customers and to retain the existing customers. rnrn
Keywords: Awareness; Determinants; Health benefits; Herbal products; Logit regression; Product price; Promotion; Purchase intention; Reputation; Willingness to pay; Young.
Special Issue on: ICBM-2019 Innovation, Business and Globalisation
Do Socially Responsible Funds perform better? A case study of India
by Ruchi Kansil
Abstract: An investment is considered socially responsible depending on the nature of the business the investee company conducts. The growing importance of socially responsible behaviour has led to the emergence of socially responsible funds which are mutual funds which invest in socially responsible companies. Existing research suggests that since the beginning of the early 20th century, these investors are a means by which significant influence can be exerted over businesses to act responsibly. The present paper attempts to explore whether or not such funds outperform the market in the Indian context. The results corroborate the fact that socially responsible funds do not underperform the market. As a consequence, the study intends to fill the existing gap in the literature on socially responsible funds as well as socially responsible investments. The results of the paper would help to promote socially responsible investment practices amongst investors and initiate financial authorities, government, regulators and other stakeholders to formulate policies and norms for the same.
Keywords: Socially Responsible Investment; Socially Responsible Funds; Responsible behaviour; India.
Imperatives of Creative Destruction: A relook at Globalisation-Growth-Innovation nexus for the Indian Economy
by Shikha Gupta, Nand Kumar
Abstract: Innovation has been the main driver of the capitalist process. The whole idea of creative destruction was fuelled on the process of innovation, but there have been questions on whether innovation has transformed into growth for countries. While this paradigm may hold true for developed economies, research suggests that the impact on innovation may be exacerbated in some cases and depressed in other. A major reason for this imbalance is also the measures of innovation. Research and development expenditures, patent filings, may serve as a barometer for innovation, but in places where institutions are not primary and have not attained importance, innovation is still occurring but cant be quantified. Thus, the objective of this paper is to quantify such measures and fit in a model to understand the innovation performance. To do so, the paper runs a model of innovation regressing innovation proxies like R&D expenditures, patents, human capital on GDP to understand innovation performance. More so, in keeping a special focus on India, the paper tries to fit in place such measures along with Indian productivity and trade amidst globalisation. The debate around globalisation as a cause or effect of innovation is also stressed upon. Innovation in India, may not be akin to the global version of innovation, but still, there is a need to relook what and how we measure innovation.
Keywords: Globalisation; Innovation; Economic Growth.
Currency Risk Management in India through Hedging
by Varuna Kharbanda, Archana Singh
Abstract: This study attempts to understand the hedging practices of Indian companies and comprehend their hedging effectiveness methods by conducting in-depth interviews with 30 treasurers of Indian companies. The study further evaluates the effectiveness of the forwards, which is the most used derivatives contracts by these companies. The results identify the 1-month forwards as the most effective derivative instrument for managing the currency risk which the treasurers of the companies facing this risk should use. In the wake of rising importance and stress on evaluating the effectiveness of hedging, these results are useful for the treasurers of the companies and the policy makers to understand and identify better models for measuring hedging effectiveness.
Keywords: Currency Risk; Exchange Rate Fluctuations; Derivative Hedging; Risk Management.
Special Issue on: Challenges and Opportunities in the Digital Era Management and IT
The Effect of CBBE Constructs on Overall Brand Equity and Purchase Intention: A Cross-Sectional Study of Organised Retail Consumers in India
by Upasana Diwan, S.L. Gupta, D.D. Chaturvedi
Abstract: Acknowledging that CBBE is rarely an end goal in itself, the CBBE constructs are capable of predicting significant consumer behavioral outcomes. While most consumer-based brand equity (CBBE) models are linear, they fail to capture the complexity of the brand equity construct and its benefits. This study builds on and extends previous researches by empirically examining the configurable nature of the CBBE process and its effect on overall brand equity and purchase intention on Indian consumers in organized retail sector. A survey based empirical study was conducted to examine the influence of CBBE constructs on overall brand equity and purchase intention. Structural Equation Modelling (SEM) was applied using the data collected from 650 respondents comprising of the consumers who made purchases from the store. The research established that CBBE constructs positively influence overall brand equity and purchase intention.
Keywords: consumer based brand equity; overall brand equity; purchase intention; organised retail;.
Review of Emotional Intelligence, Interpersonal Relationship and Wellness of Nurses: Scope and avenue for further research
by Sumit Debnath, Puja Kharti
Abstract: The purpose of this paper is to investigate available literature on emotional intelligence, interpersonal relationship at workplace and wellness and to propose a research framework. The research uses qualitative and quantitative method to find out the research trend and research gap. Qualitative review of approximately 340 article identified has resulted in 157 most relevant article. Citation analysis has been performed using SCImago Journal Ranking, Google Scholar and Research Gate. Journal citation and the author citation have been presented in a tabular form. The study highlights the highly cited article along with the journal with the possible explanation. Geographical distribution of studies along with search hits for the variables are presented using graph and table. A research framework has been proposed in order to fill the research gap. The present study tries to understand the relative importance of emotional intelligence, interpersonal relationship at workplace and wellness in healthcare industry in order to make a better workplace.
Keywords: Emotional intelligence; interpersonal relationship; wellness; nurses,citation analysis.
Benchmarking global IT majors brand strength towards Global Branding of Asian IT organisations
by Keshab Ray, Meenakshi Sharma
Abstract: There is a lacuna in research work in terms of understanding how Asian information technology (IT) organisations can become global brands. Benchmarking has not received much attention in marketing literature due to lack of benchmarking framework and IT organisations are yet to progress in benchmarking. The present research examines the impact of brand strength on global branding by developing a conceptual benchmarking framework for Asian IT organisations. Survey conducted with sample size of 225 IT customers who are employees of internal IT divisions of global organisations who avail IT services from global IT organisations like IBM, Accenture, Capgemini and Asian IT organisations like TCS, Infosys and Wipro. Results show positive relationship between brand strength and global branding; between brand loyalty and competitive advantage; between global branding and competitive advantage. Asian IT organisations can benchmark global IT organisations to improve agility, positioning, innovation, awareness building and delivering the brand promise towards making Asian IT organisations future ready to address the entire breadth opportunities in the evolving world of cloud and digital. This research helps managers with a brand strength based benchmarking framework towards global branding of Asian IT organisations. IT is instrumental for rapid growth of Asians economy. Asia should optimally utilise its greatest wealth, its human potential, with the latent global demand in IT through building global IT brands. The originality of the study lies in proposing a conceptual benchmarking framework for global branding of Asian IT organisations and conducting a quantitative study. The study further validates the model using structural equation modelling (SEM).
Keywords: Brand strength; Asian IT organisations; Global brands; Competitive Advantage; SEM.
Exploring the Development of Social Entrepreneurship in India
by Chandni Sengupta, Sunil Mishra
Abstract: The philosophy of social entrepreneurship is very much useful as it contributes to environmental sustainability; promotes gender equality; improves health; imparts vocational skills etc. It is connected with CSR that has come a long way in India. From approachable activities to justifiable initiatives, corporates today have exhibited their ability to make a noteworthy difference in society and improve the overall quality of life. Corporate have the expertise, strategic thinking, manpower and money to facilitate extensive social change. Effective partnerships between Corporate, NGOs and the Government will place India's social development on a faster track. Under the social responsibilities of entrepreneurship, the employees become the backbone of these initiatives and volunteer their time and contribute their skills, to implement them. The objective of this paper is to critically explore processes and initiatives taken for the growth of social entrepreneurship in India and to examine the development of the community through CSR and entrepreneurship.
Keywords: Entrepreneurship; CSR; Community; Wellbeing.
Investigation of Fashion Disposal Behaviour among Gen X and Gen Y in India
by Jasmandeep Kaur, Surabhi Singh
Abstract: Fashion Disposal of Gen X and Gen Y consumers is significant globally, environmental concern and willingness to contribute to sustainable consumption such as the purchase, reuse and donation of environmentally friendly products to the needy or in charity. A qualitative and quantitative approach is adopted wherein Data is analysed using Descriptive Statistics, Exploratory Factor Analysis ,Correlation and Regression. The study will bring positive sentiments while disposing of undesirable items. The research reveals the factors responsible for fashion disposition of Generation X and Generation Y. By examining the fashion disposal behaviour of different generations, essential catalysts for disposal is highlighted as well the necessity for education regarding sustainable product disposal practices. The results are worthwhile for distributors of fashion, marketers, environmentalists, ecological research, charities and policy makers.
Keywords: Gen X; Gen Y; Fashion Disposal; Socially Responsible; Sustainable Product Disposal.
Special Issue on: ICSED-2k19 Business Transformation through Sustainability, Entrepreneurship and Digitalisation
A Study of Levels of Language of Private FM Radio Stations and Their Communication Management
by Pankaj Garg, Ashutosh Mishra
Abstract: At time when management of private FM radio stations are majorly focusing to develop their own language standards to engage maximum listeners, the present study offers a way out to understand various dimensions of their language standards. The critiques of the levels of their language draw the attention of academia to understand the impact of the language on culture. The objective of the study was to decipher the changing language trends of the private radio stations. To achieve the goal three private FM radio stations situated in Delhi with wider reach were selected for the study. Their one week long programs were analyzed through content analysis .The study was designed to analyses the formats of language of the radio station. It finds out that the radio stations have majorly switched over to coded language-codes created by the radio station- as means of communication. The study further analyses their communication management to popularize their coded language among listeners through phone in programs.rnThe significance of the study is that it helps to understand the simple meaning of coded language used by the radio station. The paper argues that the study becomes more significant as it offers a frame work for future study in the area.rn
Keywords: code switching; code mixing; private FM; radio station; language standards.
Mobile Banking Services Adoption in India: The Current Scenario
by Amit Arora, Dhruv Sharma
Abstract: With the help of mobile phones whole scenario of banking & financial transactions has taken a paradigm shift from the long waiting queue in the bank, to go through rigorous channels for banking services to the customer's home desktop and laptop. The study aimed to know the impact of demonetization on m-banking transactions and to know the current significant factors for the non-adoption of m-banking. The data was collected through primary as well as secondary sources. The secondary data was taken from the official website of RBI, while primary data was collected through questionnaire from the urban area of the National Capital Region of India. The study concluded that there is a significant change in m-banking transactions after the demonetization in India. The reason behind the non-adoption of m-banking found; Lack of trust/ risk, Lack of awareness/knowledge, Inconvenience/ not technological friendly. The study recommended to the Banks and the Government should take the necessary steps to make m-banking transactions more secure and safer.
Keywords: M-banking; Demonetisation; M-transactions; M-banking users.
Competent edge to activate the intention of online customer
by Sheetal Malik, Geeti Sharma
Abstract: India is considered the second largest online market with over 460 million users and also one ofrnthe fastest. Every day by day most of startups are coming up with online business ideas.rnAccording to numbers of researchers the online customers are less loyal as compared to offlinerncustomers. Customers retention on online is a major problem faced by various online companies.rnToday customers who are engaged with particular brand can switched to another brand veryrneasily. In this competent edge, if we provide a superior virtual knowledge and understanding forrnthe customer, then there is a chance to activate the intention of the customer which will leadrnthem to online shop from the same site repeatedly. The research study will give the knowledgernand understanding of the virtual experience and how it will help the online companies to retainrntheir customers. This study gives a conceptual structure of satisfaction of consumer which leadsrnto online purchase intention for all online shoppers.
Keywords: Consumer behavior; online shopping intention;India.
Women Performance affected by Work Life Balance Factors a Demographic Study
by Shilpi Sarna, Aniruddha Ghosh, Shenki Tyagi
Abstract: Women performance (WP) and Work Life- Balance (WLB) are more likely to discuss the importance in current and competitive world. Many studies have identified numbers of variables which influence the WP and WLB factors. The psychological stress level and happiness of the working women on their performance importantly consider the consequences of these variables. Variables such as stress, health, family worries, quality time, job responsibility, working hours, role conflict, excessive workloads, and socialization & family obligations impact the Women performance. A total of 90 female professionals respondents were taken as sample from the age between 20 to 55 years. The respondents experience & education qualification were taken as qualifying criteria comprising of both public and private sectors. The research consisted WLB as independent variables, WP as dependent variables and demographic traits as controlled variables. The data obtained were analyzed using descriptive statistics. This study also has used the multiple regression analysis to find the relationship between dependent and independent variables. The women performance in association with demographic variables was tested through ANOVA. All findings were justified using IBM SPSS 22.0. Based on the empirical evidence, the study proposes that work pressure at workplace significantly impacts the women performance positively with the results of 57%, and two other items health of women and excessive work load adversely affects a women performance with 33.9% and 34.6% respectively. However, as per ANOVA results, it is also witnessed that age; qualification and experience of the women employees also play a significant role.
Keywords: Anova; Education Sector; Multiple Regressions; Work Life Balance; Women Performance.
Whistle Blowing Of Corporate Frauds In India
by SHEFALI SALUJA, Namrata Sandhu
Abstract: The paper studies the literature review in-depth about Whistleblowing in India as an ethical concept. A qualitative study with secondary based research has been carried out to understand the mechanism of whistleblowers in India. Purposive sampling has been used in terms of collecting selective episodes of corporate frauds, where whistleblowing was the key to identify the fraud and examine the role of whistleblowers in it. The analysis was done using analytical induction by the statements quoted by the Whistle-Blowers as evidence to media. People should consider whistleblowing an important concept for corporate governance. Whistleblowing act as an aid to many organisations or individuals in the effort to identify or reduce fraud or abuse. Recommendations of the analysis indicate that the individuals concerns shall be reported very seriously, proper action shall be taken on such cases, protection to the whistleblowers should be provided as that is the key to encourage other people to identify and report fraudulent activity in any organisation or individual role. The papers major contribution is towards understanding the nature of whistleblowing act, and what it offers for the corporates.
Keywords: Corporate frauds; Whistle Blowing; Unethical conducts; Whistle Blowers; India.
Revisiting quality indicators of Management Education
by Pragya Gupta, Neeraj Kaushik
Abstract: Purpose: The present study aims to determine the institutional parameters that affect the choice of deciding for the students while selecting the higher education institute and the impact of various demographic variables on the parameters identified.
Design/methodology/approach: In this study, the questionnaire was distributed to approximately 1500 Management students. Exploratory factor analysis has been used to extract the dimensions. ANOVA and t-test are used to find out the influence of the demographic variable.
Findings: The result has revealed ten factors out of the given 52 statements. Further, the result of ANOVA indicates an influence of the demographic variables on the parameters.
Practical implications: The extracted factors are well suited for all the Management Education Institutions, along with quality assessment.
Originality/value: The study involved a factor selection procedure, which is a significant concern of the present and not much discussed, especially for the Management students.
Keywords: Choice making; Higher education; Management education.
Examining Consumer Psychology and Marketing Professionals perception towards Neuromarketing
by V. Selvalakshmi, V.T. BAALAJI AMUTHAN, Srinivasan R
Abstract: Neuromarketing has emerged as the new place of study. Advancement in the neurosciences Helps in measuring even minute neuronal activities.Neuromarketing makes use of the state-of-the-art advances in mind scanning to show the goals, expectancies and hidden restraints of purchasers. Though the concept has created ripples in the advertising enterprise all around in the world, it's is rnyet to go miles ahead to penetrate in Indian advertising state of affairs. The significance and Attractiveness of Neuromarketing in India lies upon the truth that, corporations all over the international see a massive ability within the Indian markets. This research paper explores the influences of Neuromarketing on the consumer decision making towards product purchase and marketers perception. It discusses how companies have effectively used this technique in exploring customer mindset. The research paper is descriptive in nature.
Keywords: Neuromarketing; Consumer Decision Making; EEG; Marketing Research.