International Journal of Business and Globalisation (205 papers in press)
The Impact of Innovation on Firm Performance in the Malaysian Batik Industry
by Normaz Wana Ismail, Noor Haslina Mohamad Akhir, Shivee Ranjanee Kaliappan, Rusmawati Said
Abstract: This paper aims to explore the extent of innovation in the Malaysian batik industry and to analyse the impact of innovation on the batik firms performance. The evolution in the batik industry has brought various innovations to the batik making process, batik products, as well as the marketing and organisational methods. However, some of the batik entrepreneurs maintain the traditional approaches and managed manually. Using face-to-face interview surveys in Kelantan and Terengganu, we found that batik entrepreneurs in the sample have taken some initiatives to undertake innovations, especially in the marketing and batik making process. Results from empirical analysis revealed that only product innovation has a significant impact on batik firms performance. This study offer a new finding for the idea of incorporate all four types of Schumpeterian innovations to analyse its impact on firm performance in batik industry.
Keywords: Batik Industry; Innovation; Malaysian Batik; Firm performance.
Bridging the gap between Internationalisation Theories and de-internationalisation: A review and research framework
by Bernardo Castelloes, Luis Antonio Dib
Abstract: Despite its importance on the overall strategy of firms, de-internationalisation has not received the attention it deserves. This article offers a research framework of how de-internationalisation is addressed within the most prominent internationalisation theories. We begin with an overview of the literature on de-internationalisation and its main definitions. Additionally, a typology of partial/full and defensive/offensive de-internationalisation is proposed. To bridge the gap between internationalisation and de-internationalisation, such typology is used to explain how the Eclectic Paradigm, the Uppsala Model, the Network Theory and the International Entrepreneurship Theory address de-internationalisation. Opportunities for future research and managerial and political implications are also discussed.
Keywords: globalisation; foreign direct investment; FDI; multinationals; market exit; de-internationalisation; foreign divestment; market withdrawal; SMEs internationalisation.
EXPLORING THE DEMOGRAPHIC FACTORS ON PERCEIVED PERFORMANCE RISK AMONG YOUTH TOWARDS ONLINE SHOPPING IN PUNJAB
by Pawan Kumar, Rakhi Bajaj
Abstract: The tremendous growth of internet has accounted for accelerated growth in e tailoring. Online shopping irrespective of its growth marked for small percentage of sale due to perceived risk. The study is designed to examine key components of perceived risk of online shopping among youth of high educational institutes of Punjab. The population consisted of online shoppers of universities of four cities Ludhiana, Jalandhar, Patiala and Amritsar of Punjab. Respondents were selected from different genders, age groups, monthly family income groups and qualifications from these major cities having online shopping experience. A pre structured questionnaire with five point likert rating scale was used to measure these dimensions of perceived risk among online buyers of four cities. Convenience sampling method was used to collect data from sampled respondents. Principal Component analysis revealed four key factors of perceived risk in online buying. Performance risk was found as prime component of perceived risk. Influence of demographic factors on perceived performance risk was studied with the help of F ratio showing their relative significance.
Keywords: Internet; online buyer; perceived risk; dimensions; financial risk; performance risk; time risk; privacy risk; social risk; psychological risk; components.
Persuadability of Celebrity Brand Endorsements: Socio-Economic and Cultural Perspective
by Kim Anne Menezes, Suku Bhaskaran, Itika Yadav
Abstract: The article reviews celebrity endorser traits that influence brand beliefs and attitudes of upwardly mobile young and educated customers in urban India. The study draws information from intercept and electronic surveys, in-depth unstructured interviews of a subset of individuals not captured in the surveys, and content analyses of information transcribed from television advertisements. Findings from these three sources were reviewed, analysed and triangulated. Results reveal that customers in India, unlike those in developed countries where extant studies have predominantly been conducted, have greater proclivity to source attractiveness and source likeability. In contrast to customers in developed countries, source credibility is not important to customers in India. Celibrity endorsements are not highly persuasive in fostering brand beliefs and attitudes but it fosters brand recognition and brand recall. Celebrity traits that are important to target customers and the persuadability of celebrity endorsements are significantly different across market segments and countries.
Keywords: celebrity endorsement; source attractiveness; source likeability; source credibility; persuadability; belief transferance; culture; India.
Corporate Citizenship and Leadership Styles for Sustainable Development: Study in India
by Neena R. Jain, Irfan A. Rizvi
Abstract: Corporations are recognising that building economic growth along with addressing a range of social and ethical needs is imperative to promote sustainable development and all-round prosperity of the business. With the statutory mandate on social spending in India, corporates need to move beyond the fragmented contributions to focusing on inculcating values of global citizenship. Corporate Citizenship is acquiring a central role, one which urges corporates to take a holistic approach to managing their economic, legal, ethical and discretionary responsibilities towards different stakeholders, in order to make a sustainable impact. However, such strategies are largely top driven and there is an inadequate focus on the role that leaders have and their styles that influence percolation and implementation of these decisions at various levels. This study is directed towards understanding the impact of leadership styles on corporate citizenship- an interaction which will lead to sustainable consequences. The paper presents future agenda for understanding the relationship between these critical phenomena based on certain propositions. This study in the Indian context could have relevance to the emerging market economies, especially the South Asian economies.
Keywords: corporate citizenship; stakeholder management; corporate social responsibility; transformational leadership; transactional leadership; India.
Relationship among Gold Price, Exchange Rate and Current Account Deficit-A study in Indian context
by Raman Preet Singh, Nawal Kishor
Abstract: This study attempts to investigate the causal relationship between Gold price, Exchange rate and Current Account Deficit (CAD) on the basis of time series data for fourteen years from 2002 to 2016. In recent days gold has attracted the attention of economists, researchers, policy-makers and common man. There is a general view that recent Current Account Deficit (CAD) is attributed to mainly gold import only as crude oil price has fallen considerably. It is with this backdrop, this article tries to unveil any dynamic, if exist, between gold price and Current Account Deficit (CAD) applying Augmented Dickey Fuller (ADF) Test and Phillips-Perron (PP) Test which are used to test the stationarity of time series data and Block Exogeneity Wald Test to establish the causality relationship among them. On the basis of quarterly observation for the aforesaid period, it has been found that these three variables are stationary of order one and the study further found the existence of bi-directional Granger Causality between Gold price and Current Account Deficit (CAD), which is running from Gold price to CAD and vice-versa. The findings of the study have significant implication for Indias economic policy and facilitate the Government to make strategies to reduce the Current Account Deficit (CAD).
Keywords: Price; Causality; Current Account Deficit; Unit Root Test.
Community risk management by mining MNEs: Managing local communities in Armenian mining
by Jacob Taarup-Esbensen, Suren Movsisyan
Abstract: Using data collected during extensive fieldwork and interviews with local communities, non-governmental organisations and mining multinational enterprises (MNE) managers, we explore how MNEs practice community risk management within the Armenian mining industry. We start by conceptualising local communities as communities of place (CofP), which are directly impacted by mining activities but have few resources available to them, and communities of interest (CofI), which are outsiders with an interest in mining projects and with the resources to create uncertainty about a given project. We argue that community risk can be seen as a precursor to financial, political and cultural risks described in the MNE risk management literature, and that both types of community can expose the mining MNE to risks, either individually or in unison. Our empirical findings also show that mining MNEs focus on mitigating community risks in the initial phases of their project but later, when the impact on the community is perceived to be highest, use fewer resources. Our interpretation is that the objective of the risk management practice is to reduce community risk by committing resources to CofP for as long as there is a possibility that they will form lasting partnerships with CofI, which has the potential to pose a greater threat.
Keywords: community risk; mining MNE; risk management; Armenia; liability of outsidership; communities of place; communities of interest.
Entrepreneurial Motivation: The Impact of Cultural Capital on the Who is motivated
by Warren Lloyd
Abstract: Almost all definitions propose entrepreneurs as especially motivated and talented individuals. Therefore, understanding and explaining the psychological forces within the individual that motivates them is highly desired. This paper is intended to investigate studies on entrepreneurial motivation to identify an effective theory that enables recognizing who could potentially become an entrepreneur, rather than how and why individuals choose to become entrepreneurs. Of the theories discussed, McClellands Achievement Need (n-ach) is accepted as the most apt in this review. It is further noted in this paper that in defining and explaining this need, and its influence on entrepreneurship, an understanding of the impact of an individuals culture, beliefs and attitudes, encompassed in their cultural capital, is required. Primarily by evaluation of literature in this report, strong evidence indicates and supports the distinctive impact of culture on entrepreneurial motivation. In conclusion, a framework is proposed for further study investigating the impact of cultural capital on n-ach in home and immigrant entrepreneur cultural groups.
Keywords: Entrepreneurial Motivation; McClelland Achievement Need Theory; Opportunity & Necessity Entrepreneurship; Entrepreneurial Intent; Cultural Capital; Cultural Groups; Immigrant Entrepreneurship.
The interplay between institutional factors and experience as determinants of employment growth in South African SMEs
by Boris Urban
Abstract: Past studies report that idiosyncrasies in the institutional arrangements of emerging economies contrast with those of developed market economies. The paper empirically examines the influence of the regulatory, normative and cognitive institutional environments on enterprise employment growth in South Africa (SA). Rather than merely testing the institutional and enterprise growth link, a more nuanced approach is adopted to show how the different institutional dimensions interact with experience to increase overall employment growth. 177 SMEs in SA are surveyed, with a focus on the manufacturing sector, as it holds promise of creating jobs. Results support the hypotheses where each of the institutional dimensions as well as experience, explain a significant amount of variance in employment growth. The study has contextual relevance, as SMEs in SA closely monitor changes in regulations as well as societal values towards entrepreneurship, when growing their enterprises.
Keywords: Institutional; regulatory; normative; cognitive; experience; employment growth; job creation; South Africa.
Income Inequality among Entrepreneurs in Ondo State, Nigeria
by Olubukola Ehinmowo, Christian Harrison, Adewale Isaac Olutumise
Abstract: The study examined the income inequality among entrepreneurs in Ondo State, Nigeria using a questionnaire based survey. Multistage sampling technique was used to select the 200 respondents and the data was subjected to descriptive statistics, Lorenz curve, Gini coefficient and Double - Log regression model.
Findings showed that 40% of the respondents spent at most 12 years in school, while hair dressing (43.5%) and fashion designing (31.5%) were the most common enterprises among the respondents. The findings also revealed that majority of the entrepreneurs earned below N200, 000 per annum. The result of the Gini coefficient (0.58) showed that there was income inequality as shown by the Lorenz curve while the regression indicated that gender, family size and number of workers significantly affected the income of the entrepreneurs.
This study is important as it recommends policies targeted at improving income as well as reducing the income inequality of the entrepreneurs.
Keywords: Entrepreneurs; Income inequality; Entrepreneurship; Globalisation; Poverty; Gini coefficient; Double – log regression; Lorenz curve; Developing economies; Africa.
UNRAVELLING THE BRAND "PATANJALI"- STUDY OF A FLOURISHING AYURVEDIC BRAND IN INDIA
by Yukti Ahuja, Shashi Shekhar, Jigyasa Sharma
Abstract: Patanjali Ayurveda Ltd. started in 2006 by the famous Yoga Guru Baba Ramdev, has become one of the fastest growing FMCG brands in India. Patanjalis proposition of low price, natural and pure and swadeshi (Indian-made) products have given the company a unique brand positioning. Packaging of natural ingredients to make medicines, ointments, biscuits, noodles, face creams and more have appealed to the Indian audience and is trending fast globally. The brand is making waves in the Indian market and has challenged many established players. The brand is has a meticulously designed marketing mix strategy which has contributed to the exceptional growth trajectory. The study focuses on demystifying how brand Patanjali scaled up in a short span of time, its business model and its strategic decisions in a fiercely competitive retail environment. A primary research was also conducted to understand the perception of Indian customers towards Ayurveda especially with respect to brand Patanjali. Apart from exhaustive study of latest reports, articles and documents an online survey was conducted across India with a sample of 223 respondents. An analysis has been done to study the impact of selected variables with respect to Ayurveda and consumer's perception towards Patanjali products across the nation. Furthermore, the study discusses the challenges faced and the future prospects of the brand.
Keywords: Branding; Ayurveda; Patanjali; Consumer Behaviour; Retail.
An Empirical Investigation of Inequality among the Self Employed Women Entrepreneurs in Informal Sector in India
by Annapurna Dixit, Alok Pandey
Abstract: The present study takes into account self-employed women entrepreneurs engaged in running vegetable/fruit/flower/fish, beauty parlour, boutique, stationary/gift/toy, general store, cosmetic/bangle, grocery store, tea/cold drink/egg/pan, cloths /garment and others. Based on 935 women entrepreneurs Gini coefficient and Theil index have been the highest for those women entrepreneurs who are engaged in Tea/Cold Drink/Egg/Pan business and the lowest for those engaged in Vegetable/Fruit/Flower/Fish. Subgroup indices of General Entropy and Atkinson for economic activities shows that GE(-1) is the highest for and district wise general stores, GE(0) is the highest for beauty parlour, GE (1) is the highest Tea/Cold Drink/Egg/Pan and GE(2) is the highest for cloth/garments. Subgroup indices of Atkinson A (0.5), A (1) and A (2) for economic activities are the highest for Tea/Cold Drink/Egg/Pan business, Vegetable/Fruit/Flower/Fish and for beauty parlour business. It is worth mentioning here that within-group inequality is more than the between-group inequality.
Keywords: Inequality; Gini Coefficient; Theil Index; Women Entrepreneurs; Self Employment.
Capital budgeting practices of SME in Baden-W
by Bernd Britzelmaier, Ulrike Pöpplow, Lars Andraschko
Keywords: Capital budgeting; Investment decision making process; SME; South-western Germany; Baden-W.
A General Equilibrium Analysis of Technological Change to Cope with Environmental Degradation Affecting Product Prices
by Amarjit Gill, Afshin Amiraslany
Abstract: Adaptation is a natural way of responding to climate changes harmful impacts. As technological change plays a significant role in adaptation, this paper discusses the effects of change in technology by employing a General Equilibrium (GE) model. A two-sector, two-factor, two-country general equilibrium model is developed to analyze the interaction among environmental policy, trade, and adaptation strategy of producers (technological change). The results suggest that any technological change for adapting to the climate change negatively affects the relative price of the final goods; therefore, a small open country will have comparative advantage to export its goods and services. However, an environmental policy of increasing emissions tax will decrease the countrys exports. This study adds to the relevant literature by introducing one separate mitigation sector to the GE model to investigate both mitigation and adaptation as a solution to environmental degradation.
Keywords: general equilibrium models; climate change; technological change; adaptation; environmental degradation; business as usual.
Key financial performance indicators in German family firms: Findings of an empirical study
by Odile Barbe, Bernd Britzelmaier, Fabian List
Abstract: Family firms contribute significantly to the German economy since approximately 92% of all companies in Germany are family owned. In contrast to their economic relevance there is only limited research about management control in family firms in Germany. This gap led to the research question: "Which leading financial performance indicators are used by German family firms operating in the industrial sector and which factors have an influence on this selection? Based on a literature review a questionnaire was developed and an online-based survey was conducted. The results show that the participating companies still prefer traditional performance indicators. The analysis of influencing factors shows that the family influence is an important aspect that affects the selection of the respective financial indicator. Moreover, the age of the family firm is also an important aspect. Two other important factors for the usage of traditional performance indicators instead of modern value-based ones are the easy way to calculate them and that they can easily be understood by employees. Future research could focus on the further development of key financial performance indicators in German family firms and try to compare the results with other countries.
Keywords: KPI; SME; family firms; Germany; financial performance.
The Effect of Nutrition Information, Status Quo Bias, and Loss Aversion on the Health of Thais and their Consumption Behaviour: A Behavioural Economic Approach
by Peera Tangtammaruk
Abstract: A recent study shows that Thai people are showing a tendency to become obese. In 2009, the country was reported as being the second-ranked nation in ASEAN when it came to obesity. This rising trend has led to widespread concern for all of Thailands population. Seeking a way to reduce the prevalence of obesity in Thailand, we began our investigations by focusing on eating behaviour. The objective of this research was to apply ideas of behavioural economics to consumers eating habits in order to find methods which could significantly encourage people to be aware of healthier foods. We designed an experimental game model aiming to test consumption behaviours of school-age children, adolescents, university students, and working-age people. More specifically, in our experiment, each sample was offered a coupon for a free drink, which was for either a soft drink, or a healthy mixed-vegetable juice. The coupons were designed in five different ways based on nutritional information, and principles of behavioural economics, namely status quo bias and loss aversion. These five types of coupon were randomly given to each sample. The experiment found that the majority of the samples preferred sweet-tasting food and drink to vegetables. However, applying approaches from behavioural economics could, to a certain extent, make individuals more concerned about their future health and choose healthier foods. The effective implementations were coupons designed with the ideas of (1) status quo bias and (2) loss aversion, which (1) present a healthier choice as the default option, and (2) provide information on the coupon about obesity and its negative effects, respectively. To conclude, this paper experimentally proves that firstly, status quo bias can convince people to stick with the default option, and secondly, regarding loss aversion, some people are more sensitive to losses when compared to gains, in the case of health concerns. An objective take on Thai consumption behaviour, based on the idea of status quo bias and loss aversion, could be further developed as another strategy preventing people from becoming overweight and obese.
Keywords: Healthy Consumption Behaviour; Obesity; Behavioural Economics; Loss Aversion; Experimental Game.
The Use of Moving Average Trading Rules in Indonesian Stock Market
by Dedhy Sulistiawan, Felizia Arni Rudiawarni
Abstract: The development of behavioural finance stimulates the usefulness of simple trading rule. Decision biases are reflected in price movement, which is utilized by technical analysis indicators to generate trading rules. The main objective of this research is to evaluate the performance of the moving average (MA) trading rules, as a popular indicator in stock markets. The sensitivity of MA length is also examined to generate optimal return. We employ daily data of Indonesia composite index from the beginning of 1998 to the end of 2016 to examine the profitability of MA trading rule. The findings show that investors can apply MA trading rules in Indonesia stock market. Our supplementary analysis indicates that shorter (longer) MA produce higher (lower) return. The return of MA trading rules is also affected by trend. This paper contributes to trading strategy studies, particularly for stock exchanges in emerging markets. Our results recommend that selection of MA length in trading rules is important to create optimal return.
Keywords: technical analysis; trading strategy; moving average; weak-form efficiency.
Self-employment Entrepreneurial Motivation: The Case of Internal Ethnic Migrants in the Sekondi-Takoradi Metropolis
by Jacqueline Zakpaa
Abstract: This exploratory qualitative study at the micro level, sought to enrich the understanding of migrant entrepreneurship, by empirically examining the explanatory variables of the self-employment entrepreneurial motivation, of Ghanaian-born internal regional migrants, in the single host city of Sekondi-Takoradi. The study also examined the socio-demographic profile of the migrants, their status in the host community, their business profile, location and working conditions. Literature was reviewed to better understand the research phenomenon, and its theoretical framework, including the identification of the causal variables of migrant entrepreneurial motivation in host societies, just for the sole purpose of guiding the study. Using multiple case study approach, and theoretical sampling technique, 18 cases were selected for the collection of primary field data from 18 self-employed Ghanaian-born internal regional migrant entrepreneurs in Sekondi-Takoradi metropolis, through in-depth semi-structured face-to-face qualitative interviews. Data was analysed by triangulating qualitative thematic template analysis with matrix analysis. The findings revealed that the participants were motivated by nine sets of different multiple factors, but the most prominent influences on their motivation were the desire to make money, and including a post-migration factor like human capital development through learning of a trade and skills acquisition from the well-organised urban informal apprenticeship model in Ghana, which is managed by neutral master craftsmen and women trainers. Thus, the causal variables of their motivation could be attributed to the self, culture, and factors within the host society. Consequently, this study made a modest contribution to the on-going discussion on entrepreneurial motivation. It also made a moderate contribution to theory by developing a conceptual model of migrants entrepreneurial motivation in host societies, to show its various causal variables and their dimensions. The study had managerial implications, as it provided additional insights to guide practitioners, policy makers, and trainers.
Keywords: self-employment; entrepreneurial motivation; internal migrants; ethnic entrepreneurs; Sekondi-Takoradi Metropolis.
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.
Strategic Autonomy: A Step towards Scale Development
by Harpreet Singh Bedi
Abstract: Autonomy is a major construct in business management. It boosts innovation, increases firms competitiveness, enhances the belongingness of employees, promotes the launch of entrepreneurial ventures and consequently improves business performance. Though the importance of autonomy is widely recognised, but, research in the field of entrepreneurship and strategic management has often been impeded due to non-availability of the firm level inventory of strategic autonomy construct. This study aims to examine the nature of the strategic autonomy construct. A battery of six items has been identified and examined for face validity, content validity, factor structure, dimensionality, internal consistency and convergent validity. The proposed inventory has also been examined in different organisational contexts and found to be valid, reliable and parsimonious. Chi-square test of independence assesses the association of strategic autonomy construct with the diverse characteristics of an organisation. Findings reveal that the strategic autonomy construct is either weakly or not significantly associated with the age, size, type and nature of an organisation. The study has practical applications and theoretical implications for entrepreneurs and academicians.
Keywords: Autonomy; Structural Autonomy; Strategic Autonomy; Scale Development; Autonomy of individuals; Firm-Level Autonomy.
Poverty Viewed from the Perspective of Domestic Production in Yogyakarta: The Solow Growth Model Approach
by Suripto Suripto, Firmansyah Firmansyah, F.X. Sugiyanto
Abstract: This aim of this study was to determine the impact of human capital variables on the probability of poor families. The research was conducted based on the data collected in SUSENAS in Yogyakarta analyzed using logit model and estimated using Maximum Likelihood Estimator (MLE) method. The number of data was 3,606 families. The result showed that the cost variable of disease prevention (BPP), scholarships (BP), food security (JP), health insurance (AK), average length of schooling (RLS), and cost for non-formal education (BPN) affect and is statistically significant to poverty status in 2013 at 5 percent significance. Also, Calorie consumption per capita (KK) and protein consumption per capita (KP) affect on poverty status at 10 percent significance in 2013.
Keywords: Solow Growth Model; Poverty size; Rural Poverty; Logit Model.
Corporate governance, foreign operations and transfer pricing practice: the case of Indonesian manufacturing companies
by Arie Pratama
Abstract: This research investigated several factors that contribute to international tax avoidance using the transfer pricing mechanism for manufacturing companies listed on the Indonesian Stock Exchange. The factors were: (1) foreign sales; (2) corporate governance, measured by the size of the board of commissioners and percentage of independent commissioners; and (3) foreign investor ownership. The size of the company was employed in this research as a control variable. This exploratory research employed quantitative methods. Using purposive sampling, data were obtained from 27 manufacturing companies financial statements over a three-year period (20132015). The data were analysed using binary logistic regression. The results show that the size of the company positively affects transfer pricing, as does foreign ownership, but foreign sales do not. The size of the board and percentage of independent commissioners negatively affect transfer pricing.
Keywords: corporate governance; foreign sales; foreign ownership; transfer pricing.
INFLUENCE OF MOMENTUM EFFECT ON BRAND ADVOCACY AND BRAND LOYALTY IN SOCIAL NETWORKING SITES
by Rahul Sharma, Rajesh Verma
Abstract: Social networking sites offer a platform to create an online presence for a brand and marketers, creating a direct interface to reach customers and to create effective communication. Online social networks provide an easy opportunity for people to consult peers, share an opinion and pass on information related to brands among peers. This basic idea of sharing information by consumers with other consumers lead to the formation of momentum effect. Momentum effect occurs when people use brand-related content/data as a reference point in doing conversations in any form on online social networks. The purpose of this research was to study whether the momentum effect on social networking sites influences brand loyalty and brand advocacy. It was found that momentum effect influences both brand loyalty as well as brand advocacy, but the influence on brand loyalty was more. Sharing of brand-related communication by a network of friends in online social networking sites help in the creation of more brand loyalty than brand advocacy.
Keywords: Momentum effect; social networking sites; brand loyalty; brand advocacy.
An Examination of Longitudinal Study Typologies for Business Research
by Stefan Linnhoff, Katherine Smith, L. Murphy Smith
Abstract: Longitudinal studies have become a standard methodology for academic research that examines issues in the ever-changing, complex global world of business. In business research, longitudinal studies are particularly effective for measuring how business policies and strategies affect the performance of a business firm over time. The literatures call for more longitudinal studies runs up against a rather incoherent and potentially confusing use of terminology and typology undermining the accessibility for business academics and practitioners who are not familiar with this area. This study provides a thorough review of longitudinal study typologies, including an annotated, illustrated methodological framework integrating the key facets of observational longitudinal studies. Although the framework is generalizable beyond the behavioral or business context, it refrains from dealing with the specific nuances of areas such as medicine. This review and framework should be beneficial to academics and other researchers in properly describing, setting up, and understanding longitudinal studies.
Keywords: longitudinal studies; observational longitudinal designs; cohort studies.
A study on the individuals online shopping continuance intention on Amazon.in for consumer electronics
by Smita Dayal, Deelip Palsapure
Abstract: Purpose- The purpose of this paper is to study the factors that contribute to an individuals online shopping continuance intention on Amazon.in with respect to consumer electronics. It aims to examine the effects of marketing strategies, service quality, relative price, advantage, trust, through a path model derived conceptually from the Expectation Confirmation model and Technology Adoption model.
Design/methodology/approach- An online survey, based on convenience, was conducted on online shoppers who have purchased consumer electronics from Amazon.in. The data, collected from 146 respondents, was analysed on SmartPLS 3 to test the proposed model and the hypothesis.
Findings- Results suggests that marketing strategies drive perceived price advantage which in turn drives perceived service quality. Perceived service quality leads to satisfaction which in turn leads to expectation confirmation and buying intention. The research also establishes that perceived ease of use affects perceived usefulness whereas perceived usefulness affects the buying intention directly. The research also establishes a positive relationship between perceived price advantage and perceived ease of use on trust.
Research limitations-The research is based on a rather small sample size of 146 respondents though it does consider both genders almost equally and all relevant age groups to provide a clear understanding. The data was collected using non-probabilistic, convenience-based approach.
Practical implications- The study will help online marketers in devising effective marketing strategies and building customer loyalty which is rather low in this era of online shopping.
Originality/value- The research contributes to enhancing the understanding of the drivers of online shopping continuance intention with regards to consumer electronics on Amazon.in. The study also highlights the role of marketing strategies used by online retailers that indirectly drives satisfaction and buying intention.
Keywords: expectation confirmation theory; technology adoption model; continuance intention; SmartPls 3; service quality; trust; online shopping; social media marketing; consumer electronics; perceived ease of use; perceived usefulness; relative advantage; buying intention; customer loyalty.
Business Internet Use in Small, Family Owned and Managed Hotels in Scotland
by Claire Seaman
Abstract: Tourism and thus hospitality is a key strategic priority for the Scottish Government which in many communities is still highly dependent on small, family owned and managed hotels. This exploratory study is designed to initiate dialogue and to explore the complexity of the operating environment and perceived business support needs in the ever-more complex and dynamic e-environment. The development of the internet has altered the manner in which the hospitality industry operates; offering global marketing opportunities, open-source review sites and perhaps crucially the opportunity to interact with and sell directly to the consumer. Results indicate that the positive aspects of the internet were perceived to outweigh the disadvantages; however, the learning challenges identified were primarily around the effective management of on-line resources and global reputation. The vital role of small family owned and managed hotels in the development of a coherent tourism offering for Scotland is acknowledged here and can be additionally allied to geography. There are areas in Scotland, and indeed much of the world, that draw tourists yet are not sufficiently populous to host hotel chains or even specialist boutique hotels. In part, the reason tourists are drawn to those areas is precisely their relatively undeveloped nature, yet this creates a challenge for business learning within small independent hotels.
Keywords: Internet; hotels; family business; globalisation; rural business.
Locational Factors and the Reindustrialisation Process in USA; Reshoring from China
by Behrooz Gharleghi, Asghar Afshar Jahanshahi, Tobias Thoene
Abstract: The Unites States, a country that was once a manufacturing powerhouse, experienced a decline in its manufacturing sector after 1980. One main beneficiary of this decline was China, which was able to absorb roughly 2.4 million US manufacturing jobs between 2001 and 2013. Since 2010, however, it has often been discussed that reindustrialisation in United States is potentially occurring, largely caused by the reshoring of US industry from overseas. Hence, the main goal of this paper is to analyse the influence of locational factors on the reindustrialisation process in the United States through reshoring from China. The research design is an embedded single-case study. The applicability of traditional location theories and their locational factors are also examined here. This paper evaluates the development of labour cost, agglomeration effect, land cost, and raw material cost over recent years as factors encouraging the reindustrialisation process. Transportation cost and the impact of political institutions offer contrasting pictures. While high intermodal freight costs in the US and an appreciating Yuan promote the reindustrialisation process, low ocean shipping costs and enormous business incentives in China weaken the positive effects. All in all, it is concluded that most locational factors have changed in favourable ways for the United States and thus made manufacturing in the United States comparatively more attractive. This paper adds to the literature by examining the locational factors in the reindustrialisation process through reshoring from China to the US. This is done via an extensive literature review and analysis of historical data.
Keywords: China; Reindustrialisation; Reshoring; USA.
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.
antecedents and consequences of online brand community participation: An exploratory study
by Vibhas Amawate, Madhurima Deb
Abstract: The objective of the present study was to understand the antecedents and consequences of online brand community formation. How people engage in online brand community etc. in the present study netnography was used to understand the behaviour of people and attain the above objective.rnThe findings of the study suggests that in India participation in online brand community is enabled due to brand driver, self-driver and social driver. These three were found to be important antecedents to online brand community participation. the outcome of these participation were found to be community oriented activities and brand oriented activities like following the rituals as prescribed by community and spreading more WOM about the brand respectively.rn
Keywords: Online Brand Community; Brand Drivers; Self Drivers; Social Drivers.
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.
Unemployment in Africa and Entrepreneurial Education: A Critical Assessment of Entrepreneurship Education Programmes in Sierra Leone
by Alfred Mbeteh, Massimiliano M. Pellegrini, Salime Mehtap
Abstract: Unemployment, and specifically youth unemployment, is a condition which many developing countries must deal with. Different initiatives have been developed to counterbalance this problem and an effective response comes in the form of entrepreneurship education (EE). While there has been an increase in the number of entrepreneurship education programmes (EEPs) in general, little is known about the current status of programmes targeting graduate youths in particular. This paper exactly reviews the actual EE status in Sierra Leone and recommends ways to effectively improve the implementation of such programmes. The analysis was conducted by selecting a sample of programmes offered at 15 higher education institutions. Phone interviews were conducted to obtain information on the programmes outcomes, characteristics, contexts, and participants. The results show that the provision of EE by higher education institutions in the country are still in their early stages and need more coordinated efforts, further government support, and funding.
Keywords: Entrepreneurship; Entrepreneurship Education; Entrepreneurship Education Programmes (EEPs); Developing Countries; West Africa; Sierra Leone; Youth Unemployment.
Impact of operating efficiency on firm value A case of Indian Banking Sector and Information Technology Sector
by Pritpal Singh Bhullar, Deepak Tandon
Abstract: Indian Banking Sector and IT sector have undergone metamorphic changes amidst reforms. The efficiency, effectiveness and productivity in the Banking & IT sector depict the transformation vis-a-vis the reforms. The present study examines the effect of operating efficiency on valuation of firm in context of Indian Banking Sector and IT Sector. The authors have done a pilot study comprising of 15 Banks and 15 IT companies over a time span of 2005 to 2015. Panel data analysis has been employed to examine the main objective of research. The independent variable, Operating Efficiency, is proxied by six financial ratios (FATO, ROCE, EV, NPM, QOI and EV/Sales) and Enterprise value acts as dependent variable. The study concludes that the Fixed Asset Turnover Ratio (FATO) and Return on Capital Employed (ROCE) gives negative relation with Enterprise Value (EV) in banking sector whereas in IT sector similar trend is indicated by Fixed Asset Turnover Ratio.
Keywords: Operating efficiency; Panel Data; Enterprise value; Banking and IT Sector.
Manifestation of Worldview in a Metaphor
by Puneet K. Bindlish, Sharda Nandram
Abstract: Much of the current problems in organisations are emanating from the worldviews of the stakeholders involved in those organisations. The construct of worldview hails from the German word Weltanschauung. It refers to the belief framework through which an individual or community (group, organisation, nation, civilization) conceptualizes reality and interprets the world and interacts with it. A closer look at the world around us reveals that most of our lives are being impacted by business organisations especially from the last few hundred years. Business entities are getting bigger and stronger day by day, especially with the power to take decisions which impact one and all. Therefore it builds a case for analysis of organisational worldviews and their consequences on people, profit and the planet. One way of observing a worldview is through language. Applying it to organisations brings us to the concept of metaphor. This paper addresses how languages are manifestations of worldviews and what metaphor suits the elements of a new worldview representing the call for balance between people, profit and planet. It proposes the Banyan Tree as a suitable metaphor for a natural worldview.
Keywords: Worldview; Metaphor; Banyan Tree.
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.
Predicting Whistleblowing Intentions through Organisational Commitment - Insights from the Indian Real Estate Sector
by Narendra Singh Chaudhary, Shivinder Phoolka
Abstract: In this paper, the authors studied the impact of organisational commitment on the whistleblowing intentions of the employees in the Indian real estate sector using multiple regression analysis. The findings revealed that affective commitment and normative commitment has a significantly positive impact on the whistleblowing intentions of employees. Amongst, affective and normative commitment; normative commitment has a more significant effect than an affective commitment on the whistleblowing intentions of the employees. While on the other hand continuance commitment showed the significantly negative impact on the whistleblowing intentions of the employees. This implies that employees that possess a high level of affection and feel obliged towards organisation intent to blow the whistle to safeguard the organisational interest. While on the other hand, employees experiencing continuance commitment due to fear of job loss and lack of attachment will dissuade from the act of whistleblowing.
Keywords: Organisational Commitment; Affective Commitment; Continuance Commitment; Normative Commitment; Whistleblowing Intentions; Wrongdoings; Real Estate Sector.
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 Conceptual Analysis of Brand Restoration: Antecedents and Consequences
by Madhurima Deb
Abstract: Brand is a very vulnerable asset. The asset must be protected by the top managers to continue a
sustainable business. During and after a product harm crisis, the consumers become risk
averse. Hence it can be noted that crisis is a catastrophe for any brand. Crisis of any sort can
change the way stakeholders interact with the focal firm organisation. This paper explores
various studies that have focused on various crises and product harm crises in particular. The
paper tries to look at this concept from the root cause. The paper defines what a crisis is and
what are the different associations of crisis? The paper further explores the role of ethics in
branding with an emphasis on ethical leadership. The central research objective of the paper is to
understand the antecedents and consequences of brand restoration. The authors objective of the
paper is to understand why crises happen and what can be the possible role of ethics in crises?
Basis the above, the author was motivated to explore various studies conducted in the areas of
brand crisis, crisis response and ethical branding. The below piece of work is a product of
thematic literature review process. The components of this research paper have emerged from
studying various research work published in peer reviewed journals across categories. The
broad themes identified are used to build a propositional model at the end.
Keywords: Brand restoration; Brand crisis; Product – harm crisis; ethics; business ethics;
ethical leadership; ethics in marketing.
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.
The Sixth Wave Israeli Communities in East and South East Asia
by Meron Medzini
Abstract: Migration of people, either as individuals or as a group, has often defined the history of the Jewish people. From their early history in the Land of Israel, Jews have migrated to various places, occasionally by their own will, more often expelled by others or forced to flee persecution and extermination. Since the middle of the 19th century, there have been five waves of Jewish emigrants to East and South East Asia. This paper deals with the sixth and current wave of Israelis who have settled in that part of the world in the past twenty- five years, what led them there, who are they, what do they engage in, what are their ties with the host communities and how do they see their future.
Keywords: Israel; Jews; migration; Yerida; China; Japan; Vietnam; Korea; Singapore; Taiwan; Chabad.
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 INDIAS 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.
SOCIAL ENTERPRISES: Agents of Sustainable Development (A study on how social enterprises are making an impact in the Society and acting as vehicles of sustainability in India)
by Surabhi Paliwal, Shyamalendu Niyogi, Sanjeev Chaturvedi
Abstract: The objective of undertaking this research is to develop a greater understanding between social entrepreneurship and sustainable development as well as analyse the correlation existing between the two segments of study. This study aims to answer the following research questions: How does entrepreneurship assist and support sustainable development? How do the existing research studies relate social entrepreneurship and sustainability? What is the impact and the nature of impact of social enterprises on the society? How should the research process advance in the future?
Keywords: Social Entrepreneurship; Sustainability; Sustainable Entrepreneurship.
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.
Support for SMMEs: Is This the Cause for The Large Failure Rate?
by Michael Cant
Abstract: South Africas townships are remnants of the apartheid system, but after 25 years of democracy these townships are not really better off. The fact that these townships were grossly neglected in the apartheid era is still evident poor infrastructure, lack of resources and the high levels of unemployment testifies to this (Thulo, 2015). Much money has been invested in these townships but the effect has been minimal as the majority of people in these townships continue to live in poverty. According to McGaffin et al. (2015: 15) there has been an interest in seeing townships developing into more sustainable communities on all levels. Municipalities have been tasked to provide assistance to businesses in township areas to become more successful and to create employment. The findings indicate that 68% of small businesses in townships feel that they do not get any assistance from municipalities, and from those that feel they do get assistance, 54% felt that this assistance was not effective.
Keywords: employment; municipalities; SMMEs; South Africa; township economy; township.
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.
Special Issue on: Emerging South Asia in a Globalised World
India an Emerging Higher Education Hub for South Asian Countries: Globalisation and Internationalisation essential keys for Growth of South Asia
by Kanupriya Misra Bakhru
Abstract: Higher education can form the key that can respond to the changes brought by globalisation for emerging South Asia in terms of sustainable growth, poverty reduction, competitiveness and job creation. Even though South Asia is witnessing an exponential growth, there is a dismal picture of employability and quality of education here. There is a need for change. India being the biggest contributor for growth of South Asia, should take the lead in higher education. India is the most preferred destination for foreign students from South Asian countries, there is a clear opportunity for India to establish an educational hub in India for South Asian Countries. The paper examines the current scenario of higher education in South Asia and particularly in India. Notable trends, internationalisation and the future possibilities that would transform higher education in India and emerge it as an Educational Hub for South Asia have been discussed.
Keywords: Globalisation; Internationalisation; Education Hub; Higher Education; India; South Asia.
Has Trade Improved from SAPTA to SAFTA? Evidence from the Gravity Model
by Kumar Gaurav, Nalin Bharti
Abstract: Studies show that South Asia is one of the least integrated regions in the world. The wave for regional economic integration in this region commenced with the creation of the South Asian Association for Regional Cooperation (SAARC) in 1985. In order to increase trade and economic integration among the South Asian economies, SAARC Preferential Trading Arrangement (SAPTA) was commenced in 1993 and South Asian Free Trade Area (SAFTA) in 2004. With this background, this study is an attempt to evaluate the effects of SAPTA and SAFTA on the member countries intra-regional trade based on the augmented gravity model. The results confirm that SAPTA as well as SAFTA have not increased the members intra-regional trade. There is thus, need to boost trade among South Asian nations by trade facilitation measures, reducing non-tariff measures (NTMs), pruning unnecessary sensitive-list, lessening strict rules of origin (RoO), making export-basket complementary and by resolving geo- political tensions.
Keywords: South Asia; regional economic integration; augmented gravity model; trade facilitation; NTMs; sensitive list.
A Study on Relationship between Leadership Style and Conflict Resolution Strategy in Sustainable India
by Kanika Garg, Mridula Mishra
Abstract: Conflict in organizations is often avoided and suppressed because of its negative consequences and to seek to preserve consistency, stability and harmony within the organization. The study examines the Conflict resolution Strategy among Public sector bank manager and also examines the relationship between leadership style and Conflict Resolution Strategy among Public sector bank manager. The data has been collected from the 25 Managers working in the Public sector bank. In order to attain the objective the descriptive statistics has been used. The Study found that Managers respond high on withdrawal conflict resolution strategy. The Study also found that Managers of Public sector bank who were working as a managerial position fallen in Team leadership style and they all have very high potential to complete their task and they are using Withdrawal conflict resolution strategy to resolve the conflict in the Bank.
Keywords: Leadership Style; Conflict Resolution Strategy; Withdrawal; Managersrn.
Why India Still Fighting For First FDI Receipt Country?
by REENU KUMARI, Anil Kumar Sharma
Abstract: Recently, China and India have outstanding economic progress but still China growing more than India so that everyone have curiosity to know that what is the reason behind the India behind the China. Thus, this paper have two main objectives: first, to explores the major reasons for the variation between china and Indias FDI inflows. In this section discussion five main reasons which affect to the variation of China and Indias FDI inflows. These five reason were round tripping, disparity in policy and non-policy determinants of FDI; value of definition of FDI is different, changes in policies and schemes and Freedom and obstacles also matter; second, the examines the determinants of FDI which affect to the China and India FDI inflows for the period of 1990-2014. Using the OLS method with unit roots test to find out determinants of FDI inflows in both countries and it was found that China has much higher FDI inflows as compare to India FDI inflows it may be due to larger domestic market and they are concentrating on the manufacturing sectors. Although, India had benefits cheaper labor cost and lower country risk. Large domestic market size of any country attracts to the FDI and the present study found that evidence about China is better performing in pulling FDI against the other developing countries (like India). Moreover, at last this paper shows that comparatively table which reveal that impact of determinants of FDI in China and India. This paper concluded that China is first highest FDI receiver country and India is second highest FDI receiver country. Indian government still racing and fighting for the first place as FDI receiver but it is not possible till government of India will not take/adopt some economic and industrial reform. (E.g. India should be trying manufactured most of the products in India). Although, for reduce of above gaps Indian companies are following the slogan of Modi government such as Make in India. It means India try to do make a better in manufacturing sectors though the most of products should be make in India only.
Keywords: FDI; China; India.
INTERNATIONALISATION OF SMEs: HOW DOES GLOBAL MINDSET AND NETWORK RELATIONSHIPS IMPACT IN INDIA
by Ishaq Ahmad Dar
Abstract: India is a developing country and an emerging economy of South Asia. Small and Medium Enterprise contribute to the sizeable proportion of exports and manufacturing output of the country and millions of people are provided employment. Due to the forces of Globalisation sooner or later these SMEs are thinking about Internationalisation. This study uses regression analysis to study the impact of Global Mindset and Network Relationships on the Internationalisation of SMEs from India. Primary data was collected from SMEs which are involved in international business from India. Global Mindset and Network Relationships were taken as independent variables while Internationalisation as a dependent variable. The results showed that both Global Mindset and Network Relationships have a significant and positive impact on Internationalisation. Therefore, both works as determinants of Internationalisation, Network Relationships is a stronger determinant than Global Mindset. The implications of these findings are also discussed.
Keywords: Internationalisation; Global Mindset; Network Relationships; SMEs; Determinants.
Integration of South Asian Stock Market A Select Study
by Jitendra Dixit, Sanjeev Gupta
Abstract: Financial markets are the real replication of growth of the economy throughout the globe and integration of stock markets facilitate the investors to control their portfolio risk through diversification. But degree and direction of co-integration among the stock markets are required to be ensured. As, risk seeker and risk averse, both type of investors have different opinion towards risk. In this study an effort has been made to explore this issue for better understanding and effective decision making for the investors targeting south asian stock market specially India, Pakistan and Sri-Lanka. For the analysis, daily data of closing value of Indian stock market (BSE 30), Pakistani stock market (Karachi 30) and Sri-Lankan stock market(all stock indices,CSE), ranging from April 2015 to March 2016 is used. Database of stock market indices is collected from the web portal of respective stock exchanges. For the analysis, unit root test followed by co-integration is used to examine the association among the three stock market. This paper uses Vector auto regressive model (VAR) to characterize the dynamics of stock market indices of selected market.
Keywords: VARrnCo-integration rnUnit rootrnMarket indices.
RECENT ADVANCES IN TOTAL FACTOR PRODUCTIVITY GROWTH MEASUREMENT IN AGRICULTURE: A REVIEW OF LITERATURE
by MANAS RANJAN BEHERA, Alka Sharma
Abstract: Total Factor Productivity Growth (TFPG) is a topic well documented in the economic development literature. The studies related to this topic can be broadly put into three contradicting hypotheses. First, total factor productivity is a measure of technological change; secondly, it is associated with the externalities and scale effects. The third grouprnof researchers is sceptical that total factor productivity measures anything useful. Therefore, the paper attempts to categorize the available literature based on their methodological and computational differences and systematically reviews the different factors that have been attributed for the total factor productivity growth. It was found thatrnthe studies used a variety of approaches including estimation of rates of shifts in production and cost functions, non-parametric methods and indexing approaches showing the relative importance of different approaches. However, most of these studies are based on highly aggregative data. Studies based on micro level data on various dimensions and determinants Total Factor Productivity growth in agriculture, especially in the countriesrnwhich have high disparities in soil quality, climate and topographical conditions as well as socio-economic and physical infrastructure across states and agro-climatic zones are obviously scant.
Keywords: Total Factor Productivity; Decomposition of TFP; Returns to R& Drninvestment.
Special Issue on: Shaping Business Opportunities in Emerging Markets under Global and Local Uncertainties
Pricing Negotiation in Contract Farming
by Yuanita Handayati, Togar Simatupang, Tomy Perdana, Manahan Siallagan
Abstract: An agricultural pricing mechanism achieved through a process of negotiation is superior to cost-based or auction-based pricing in achieving goal congruence and evaluating sub-unit performance. This paper illustrates the negotiation process in defining agricultural prices by considering the emotions of negotiators. The emotions of both buyer and seller are captured to illustrate the impact on the duration, agreed price and result of negotiations. The simulation shows that when both buyer and seller experience heightened emotions, the shortest negotiations are achieved. On the other hand, the most protracted negotiations, which usually culminate in failure, result when both buyer and seller exhibit anger. Moreover, different combinations of emotions on the part of the buyer and seller suggest that stable emotions will produce a mutually acceptable price. Agent-based modelling was used as the methodology to simulate the price negotiation process.
Keywords: Price negotiation; contract farming; emotions; agent-based modelling.
The Entrepreneurial Ecosystem to Foster Competitiveness among Enterprises: A National Level Analysis
by Gandhi Pawitan, Maria Widyarini, Catharina B. Nawangpalupi
Abstract: The launching of the ASEAN Economic Community (AEC) in 2015 opened a regional market of 600 million people. The formation of AEC facilitates the opportunities for entrepreneurs to offer goods and services in the market. This naturally raises challenges for businesses and governments, also tighter competition. This paper aims, first to investigate the relationship between entrepreneurship ecosystems and national competitiveness, in the presence of entrepreneurship activities. Second, identifying the most important pillars of the entrepreneurial ecosystem in fostering competitiveness. The national level data is used from the Global Entrepreneurship Monitor consortium and the World Economic Forum for the year 2015. The partial correlation coefficient and the regression analysis were applied. The results show that the relationship between entrepreneurship ecosystem and national competitiveness is intervened by level of entrepreneurship activities. The R&D transferred as well as the physical and services infrastructures are primary pillars of the ecosystem fostering the national competitiveness.
Keywords: entrepreneurial ecosystem; global competitiveness; partial correlation analysis.
Acculturation to Global Consumer Culture (AGCC) and the Ethnic Identity (EID) of Indonesians in relation to South Korean Culture
by Mustika Sufiati Purwanegara, Nurrani Kusumawati
Abstract: A certain degree of contradiction exists around the belief that Acculturation to Global Consumer Culture (AGCC) has a negative correlation with an individuals Ethnic Identification (EID).Indeed, some observers state that it is possible to be acculturated to global consumer culture without a loss of ethnic identity.The study explores AGCC towards South Korean culture consumption and Ethnic Identification on the part of Indonesians.The research reported here focuses on South Korean culture since an enormous number of that countrys products are consumed by Indonesians.The objective is to gain insight into global companies developing of a strategy to enter the Indonesian market.Questionnaires were distributed to the 349 respondents who participated in the survey.AGCC and EID are negatively correlated to each other.Meanwhile, both AGCC and EID relate to Indonesians consumer behaviour with regard to South Korean culture and the most appropriate strategy for South Korean culture to enter the Indonesian market being standardisation strategy.
Keywords: Acculturation; Ethnic Identification; Acculturation to Global Consumer Culture; South Korea Culture; Consumption Behaviour; Quantitative; One-way ANOVA; Manova; Regression; Indonesian.
A survey of the Responsive and Proactive Market Orientation Research (2005-2015)
by Ngatno Ngatno
Abstract: Since 2004, responsive market orientation (RMO) and proactive market orientation (PMO) have received considerable attention in the marketing literature. Little research provides preliminary and useful information to facilitate good understanding of RMO and PMO. This study presents a comprehensive survey of extant marketing literature using keyword classification from 2005 to 2015. It serves as a tutorial and aims to help the beginner researcher or practitioner to have access to RMO and PMO, including its definitions, applications and problem domains. The contribution of our paper is to provide a means to conceptualize and operationalize the coverage of RMO and PMO. It provides a conceptual framework to organize this vast body of research. Based on the scope of 50 RMO and PMO articles, we find that the number of publications on MO has significantly increased since 2005 with steady growth in recent years. The survey showed an upward trend in studying RMO and PMO-performance relationship similar to the universally trends. The study also found some common variables related to performance, mediators, and moderators within manufacturing and service industries. Finally, it provided a framework to organize the results.
Keywords: responsive market orientation; proactive market orientation; antecedent; consequence; performance.
Managing Alliance Configuration and Dyadic Learning Performance in Coopetition
by Rangga Almahendra, Ria Aulia
Abstract: Firms decide to form global alliances to seek new knowledge and innovation from different sources, even from their competitors. However, the mechanism for managing both cooperation and competition in these knowledge-seeking alliances are much less understood. This research is intended to disentangle the learning race phenomenon in an alliance of two competing companies. We raise questions on how firms could reconcile the dilemma between cooperation and competition and what is the best configuration for an alliance portfolio that contributes to a dyadic learning performance in coopetition. We tested the hypothesis with 680 samples from 136 firms in the biotech industry from 1998-2002. The results supported all the hypotheses as follows: strong ties have an inverted U-shaped effect on SLCG and the technological diversity has a role in reversing the relationship between the strong ties and SLCG which previously was seen as an inverted U-shape, but became U-shaped.
Keywords: Learning race; coopetition; strong ties; technological diversity.
Trust, business, and society in a post-conflict scenario the case of managing workplace practices in Colombia
by Ulf Thoene, Alvaro Turriago-Hoyos
Abstract: Colombia has been plagued by outbreaks of violence for several decades. As a post-conflict scenario emerges, businesses face new challenges and opportunities. Ending the conflict inevitably involves an effort of somehow integrating ex-guerrilla combatants into the formal labour market. Given the high levels of mistrust or fear that Colombians manifestly have towards such individuals and the low levels of educational attainment they have achieved, a thorough debate on the issue of trust on an overall societal level as well as within firms cannot be avoided. Regarding opportunities, the post-conflict scenario opens a window to modernize relations between different groups making up society. The central thesis of this research is that trust has perhaps become more reciprocal than unidirectional or top-down. We provide survey data, and conduct in-depth, semi-structured interviews with business leaders representing four economic sectors.
Keywords: Business for Peace; Colombia; Peacebuilding; Peace through Commerce; Trust; Voice at Work; Workplace Relations.
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
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 cooperativern.
What can we learn from digitalization and servitization to shape a new mobility paradigm?
by Veronique Goehlich, Guy Fournier, Alexander Richter
Abstract: The ongoing transformation of our industry structure is closely related to digitalization. Smart connected products create new consumption schemes. The automobile industry is at the forefront of this process and internal rivalry between OEMs evolve towards a play of competing eco-systems. Digitalization enables the coupling of very heterogeneous organizations. Moreover, the integration of technologies for connected products and e-mobility accelerates the servitization process. These two phenomenon disrupt established business rules and create a creative destruction process. The produce and sell a car business model is becoming obsolete. The focus is shifting increasingly to the customer data that can generate entirely new and scalable revenue streams. We aim to identify key success factors for new value propositions in the mobility sector and to show that digitalization enables customer orientation. Although product oriented business models are threatened, new opportunities for third parties raise. This process of creative destruction thus open new opportunities.
Keywords: Transformation;e-mobility; digitalization; servitization; Business models; eco-systems;creative destruction;paradigme; automotive industry.
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: Tourism; collaborative; accommodation; regulation; platforms; business; sharing economy; houses of tourist use; hotels; services; economy.
Trust in the Sharing Economy: exploring the perceptions of Airbnb consumers
by Rui Costa, Patricia 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 is 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 consumers decision.
Keywords: Sharing Economy; Trust; Airbnb; Consumer’s perceptions; Portugal.
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 behavior of tourists who participate in it (sociodemographic 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, 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.
The sharing economy community on the role of local government in promoting, steering and governing the sharing economy. An exploratory study
by Monica Bernardi
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 communitys reflections on its own nature and characteristics are also reported.
Keywords: sharing economy; local government; knowledge-based community; sharing city.
A Study on Carpooling Applications: The Development of Sharing Economy in the Age of Internet
by Ruhet Genc
Abstract: Globalization 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 travelers.
Keywords: Sharing Economy,Car Pooling,UBER,GRAB.
The Soft and Hard sides of the Sharing Economy: A discussion of Marketing, Financial and Sociocultural 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 sociocultural 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, sociocultural 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 sociocultural 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; collaborative consumption; marketing; societal; financial; digital revolution; platforms.
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.
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: Circle Conference Creating and delivering value in a contemporary world
Volatility spillovers between European financial markets: evidence since the Brexit
by Anna Golab, Anna Zamojska
Abstract: In the light of the big rumour around another potential financial crisis: the United Kingdoms decision to exit the European Union, this paper presents an analysis of volatility spillover effects around Brexit meltdown time. A number of European countries such as Germany, Poland, Hungary, Czech Republic, Norway, Switzerland, Ireland, Denmark and Sweden are taken into consideration. The analysis contains period from January 2010 until November 2016. This capture the European Severing debt crisis, Greek crisis, Chinas Black Monday crash and Brexit referendum outcome shock. The analysis covers the Diebold and Yilmaz (2009) Spillover Index, constructed in a VAR framework, to assess spillovers across stock markets returns, multivariate CCC GARCH and Cholesky variance decomposition model. The analysis shows there is no evidence for Europe and the UE to bring other global financial crises, however this paper explains reasons and potential consequences of the Brexit.
Keywords: Brexit; Spillover Index; CCC-GARCH; Variance Decomposition.
Frequency of retail services, membership fees and real store shopping experience: Analysing consumer preferences
by Mitsunori Hirogaki
Abstract: As the Japanese population ages, retailers of all sizes in Japan are trying to develop new retail business models to meet the needs of the emerging market segment. This study identifies Japanese consumers preferences in choosing new grocery retail services that are currently in the early stages of development. A conjoint analysis was conducted through a nationwide survey in Japan to identify these preferences. The results revealed that the retail format is the most important attribute, with these consumers preferring formats that closely imitate bricks-and-mortar style retail. Second in importance is the membership fee, followed by the service frequency. Consumers who consider shopping as a fun activity emphasise service frequency. Our findings provide retailers with information regarding Japanese consumers shopping attitudes in the future. Moreover, it provides a useful clue to a successful multichannel retailing strategy in food deserts.
Keywords: types of retail services; ageing society; food deserts; consumer behaviour; conjoint analysis; real store shopping experience; Japan; online grocery; membership fee; frequency of retail services.
The role of content analysis in the brandconsumer relationship: a Systemic view.
by Nicola Capolupo, Gianpaolo Basile, Roberto Chionne
Abstract: In this paper the authors, analysing Ceres case on Facebook, aim to show that the brand has changed the role moving from static and unidirectional communication tool to a semantic and semiotic space in which company and numerous and heterogeneous social agents (consumer and/or individual) exchange several information to meet their relative needs. \r\nIn this scenario the active role that the digital marketing tools can play in a constant condition of bidirectional relationship becomes important.\r\nThis kind of relationship amount to some conditions: the firm is a Complex Adaptive System (CAS) in which the boundaries are the cultural values (CCT Theory) that allow to create and maintain relationship with consumer/individual; the low level of boundaries shows a relational horizontal structure that defines an holonic organization in which emerges a property which is the brand composed of both efforts of firm and individual/consumer; the consumer/individual engagement reduces the product materiality reinforcing the service logic (Service Dominant Logic).\r\nThe relations between brand and the numerous and heterogeneous individual create a no-linear system that owns and shows many attractive characteristics. So, these systems can be studied with a qualitative analysis. On this epistemological basis, the authors will apply the content analysis to study Ceres Facebook page collecting users feedback to the brand posts through their comments to evaluate the brand positioning and to plan, with consumer/individual, different behaviours. \r\n
Keywords: consumer culture theory; Service Dominant Logic; participatory marketing; systems and holonic theory; viable system model; content analysis; brand\r\n.
Is The Sharing Economy Socially Responsible? Case study examination about Sharing Economy Companies with the help of Stakeholder Theory
by Georgina Görög
Abstract: Sharing Economy is a relatively new method of supplying products and services to the market place that have traditionally been the domain of classic industries. This innovative and new form of business has disrupted these traditional patterns of production and consumption, leading to more possibilities for the consumer. This new model has great potential in the field of Sustainable Development and Corporate Social Responsibility (CSR) and this paper examines the relationship between Sharing Economy and CSR. The author argues that the companies, whose business models are based on the sharing concept, take responsibility for people who use their product and services. Based on the literature, three basic sharing economy entrepreneur groups have been found; Redistributing Markets, Product Service Systems, and Collaborative Lifestyles. Each of the groups classified is represented by at least one multinational company. For the purposes of this paper the multinationals concerned are eBay (Redistributing Markets), UBER (Product Service Systems), and Airbnb (Collaborative Lifestyles), with each being analysed with the help of the stakeholder outline model. In this study, some identified stakeholder groups differ from the classic CSR stakeholder theory as their power, contributions, and expectations are more significant than in the case of traditional business. These groups are competitors, employees, governments, local community, and the natural environment.
Keywords: Sharing Economy; Sharing Economy Business Model; Disruptors; CSR; Stakeholder Theory; Stakeholder Outline Model; selected companies; Case Study.
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.
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.
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.
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: 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.
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.
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.