bluuebunny/crossref_metadata_2025 huggingface dataset:
Education And SMME Business Growth: A Gender Perspective From South Africa
Authors: Brijlal Pradeep , Naicker Visvanathan , Peters Ricardo
Published: March 2016

Entrepreneurship is becoming an increasingly important source of employment for women in many countries. Policymakers and other stakeholders typically fail to differentiate between the needs of different SMME sectors when designing support programmes. Using survey data obtained from SMME owner managers in the Western Cape, this article attempts to identify whether the level of education and gender has an impact on business growth. A survey instrument in the form of a questionnaire was utilized to capture the data from 369 face-to-face interviews. The findings from this research reveal a positive relationship between the level of education of business owners and their respective business abilities to increase business growth. There were no significant differences between men and women in relation to business growth. The research has implications for policymakers seeking to understand the factors that influence business growth.
Identifying The Long-Run Relationship Of Real Money Demand, Real Income And Prime Interest Rates In South Africa
Authors: Niyimbanira Ferdinand , Dubihlela Job
Published: March 2016

This paper analyses the long-run demand for money in South Africa for the period 1971-2010. In particular, the paper estimates a co-integrated vector autoregression model of the long-run relationship between real money demand, real income and prime interest rate. A variety of theory consistent identification schemes, tests for co-integration, co-integration regression and error-correction-model (ECM) were applied in the order of the estimation approach developed by Johansen (1991). Preliminary data were also subjected to the autocorrelation function. Results show that the estimated elasticities indicate that a long-run equilibrium relationship exists between real money (M2), real income and the prime interest rate in South Africa. As expected, the coefficient of the equilibrium error term was found to be negative and significantly different from zero, implying that 0.227 of discrepancy between real money demand and its explanatory variables is eliminated in the following year. Evidence indicates that the retarded speed of adjustment for real money demand in South Africa needs about one year to re-adjust.
The Design And Implementation Of A Strategic Plan In Primary Schools
Authors: Van Wyk Chris , Moeng B. G.
Published: March 2016

Many policies, strategies and plans have been introduced in South African schools so as to acquire quality education. A strategic plan, as a mechanism of putting schools on a pathway of development and effectiveness over a period of time, is one of these initiatives. Its introduction is based on a number of reasons inter-alia - the shift to school self-management, the introduction of Norms and Standards, and the introduction of School Governing Bodies (SGBs). A schools strategic plan is the physical document that embodies the guiding orientation regarding how to manage the school within a larger national and local development perspective. Such a plan can lead to school effectiveness, improvement and development strategies, but not all plans obtain this status because of design efficiencies. A qualitative investigation was done in two primary schools in the Mahikeng Area Office (AO) of the North-West Province in South Africa. Document analysis, in-depth interviews with two principals and two SGB chairpersons, as well as a focus group interview with eight teachers from participating schools, were used to collect data on how primary schools in question design and implement their strategic plans. The investigation seems to suggest that, while an individual school community may craft a strategic plan in its own way, there are common aspects that underpin the entire process. Amongst others, technical knowledge and skill for its execution are necessary. Some policies emphasise the importance of a strategic plan and serve as an integrated implementation framework for its execution. It is concluded that a strategic plan is designed and implemented under three main elements: 1) strategic analysis, which is made up of stakeholder involvement; 2) strategic choices made up of direction-setting, priority determinations, mission, and vision; and 3) strategy in action, which refers to the process of translating the plan into action.
Organization, People And Skills As An Enabler For Strategy Execution In Municipalities In South Africa
Authors: Leibbrandt JH , Botha CJ
Published: March 2016

The formal organizational structure, including the control systems, is an important factor in strategy execution. The structure can be defined as the relationship between tasks, individuals, and formal and informal channels. Getting things done in many organizations feels like walking in quicksand; there are too many meetings, too many reports, too much information and too many stakeholders. Business processes are not effective and decisions are delayed or unclear. Organizations are more and more complex and municipalities present the same trend and complexity currently. People and their skills are becoming an even higher strategic element in executing strategy in this complex environment. Well-aligned business processes are crucial for the strategy execution process. Organizational restructuring will not automatically lead to improved performance and is not a quick solution. People with the right skills, capabilities and attitude toward execution are key and even when an organizational structure is not perfect, they will perform and deliver what is expected.
Dynamics Of The Relationship Between Bank Loans And Stock Prices In Saudi Arabia
Authors: Almutair Saud
Published: March 2016

The objective of this study is to find the dynamics of the relationship between bank loans and stock prices in Saudi Arabia using quarterly data for the period 1998 to 2013. The estimation methodology consists of a cointegration test, an error correction model estimation, and VAR Granger Causality. The study confirms the long-run relationship between credit card loans (CCLOAN) and Saudis stock market index (SSPI). We found a positive relationship between SSPI and bank loans, supporting the economic theory that as stock prices rise, the supply and demand for bank loans increase. This positive relationship between SSPI and bank loans is true for all types of bank loans except CCLOAN. The negative relationship between CCLOAN and SSPI can be justified because CCLOAN is affected mainly by the consumption decision, which depends on the wealth effect. The study confirms that the total bank loans (TOTALL) react positively to an increase in stock prices in Saudi Arabia, and not the other way around, supporting the efficiency hypothesis of the stock market of Saudi Arabia. Therefore, the study tends to conclude that TOTALL plays no significant role in transmitting stock market shocks to the real sector. An important implication obtained from this study is that the health of the banking sector depends crucially on stock market stability. Policies to stimulate bank loans in an attempt to boost stock market activities may be futile in Saudi Arabia.
Virtual Currencies Like Bitcoin As A Paradigm Shift In The Field Of Transactions
Authors: Richter Chris , Kraus Sascha , Bouncken Ricarda B.
Published: March 2016

Virtual currencies have been well-cited and well-discussed in the near past. Due to the loss of trust in the banking sector and the fear of loss of capital, low interest rates and uncertainty of existing currencies, the ground for a virtual currency was given. Virtual currencies and the money flows are controlled only online by the anonymous group of volunteers (also called peer); every single transaction is documented. Approximately 10,000 businesses worldwide accept payments with virtual currencies already, and the number is increasing steadily. This article analyzes the advantages and disadvantages of virtual currencies in comparison to real money and gives an outlook to a new banking system with high transparency and the chance to lead to a paradigm shift in the world of transactions and banking.
Measuring Organizational Effectiveness: The Role Of The Organizational Community Index
Authors: Bowden Randall G. , Mulnix Michael W.
Published: March 2016

The purpose of this research is to help understand the value of presuppositions through the development of a community index for organizations, that employees bring certain community appeals to organizational life. Those appeals are entrenched in ancestral paradigms of the past as a natural part of the human psyche (Nicholson, 1997). This research attempts to understand the appeals with the development of the Organizational Community Index (OCI) with three subscales: Measure of Influence; Sense of Belonging; and Feeling of Recognition. The subscales were developed based on previous research from the influence of anthropology, sociology, and psychology on organizational studies. One hundred and forty-six business professionals were surveyed as an initial sample. Results of reliability coefficients, skewness, and kurtosis indicated that the subscales are reliable and serve psychometric purposes. The OCI should be further tested with larger samples sizes and in a variety of organizations. Initial conclusions suggest that organizations might want to assess their sense of community among employees before they proceed with planned change involving organizational effectiveness.
Impact Of The International Grocery Chain On The US Online Grocery Business
Authors: Zivic Louis J. , Shea Timothy P.
Published: March 2016

The established, United States based brick-and-mortar grocery chains have been slow to enter the online grocery business. This paper, the third in a series, explores whether that is still the case in 2001, how the new pure-play online grocers are doing in the aftermath of the collapse of the technical sector of stocks in early 2001, and the role that internationally-based grocery chains are taking in the US marketplace. Somewhat surprisingly, some internationally-based grocery chains are moving aggressively into both the brick-and-mortar and the online grocery business in the United States.
Globalization Vs. Territorial Markets: Selling Typical Products On The Internet
Authors: Andreini Daniela
Published: March 2016

Technology, and most of all Internet, is considered the most important tool for the ongoing economic globalization process, allowing the commercialization of standardized products on a large international scale (Levitt, 1983). Internet is also the real opportunity for micro companies to reach foreign markets at affordable costs (Hoffman and Novak, 1996).This paper focuses on the case of sales of gastronomic typical products on the Internet, probably one of the best e-commerce applications. In fact, no any other old goods can suit so naturally to the virtual market as typical products do. Two are the fundamental characteristics of typical, made in products: first of all, they have to be specialty goods, differentiated from their competitors; then they have to be regional goods, that means having deep roots in their original territory. In the second part of the paper it will be interpreted how typical products find in Internet the way to valorize their local and regional diversities on international markets: this way Internet has reversed the famous international management postulate think global, act local into a new one: think local, act global. Moreover, a partial empirical research about Italian companies selling gastronomic products on the Internet will be illustrated in order to verify quantitatively and qualitatively the state of art of this virtual business.
Environmental Policy And Firm Relocation: The Case Of U.S.-Mexico
Authors: Hultberg Patrik T.
Published: March 2016

The paper studies the effect of stringent environmental policy on domestic firms' location decisions, especially in the context of a bilateral trade agreement. The main variables included are market size, trade barriers, and fixed costs of establishing abroad. The results show that parameter assumption in the inverse demand function matter. In addition, changes in model variables yield both intuitive and some less intuitive results. For example, predictions on firm movement following economic integration are not as clear as might be expected. The results are discussed in the context of U.S.-Mexico economic integration.
Tax Treatment Of U. S. Companies Participating In The Maquiladora Industry: Recent Developments Involving The Intergovernmental Agreement On Transfer Pricing And Other Issues
Authors: Isley Anita , Cassill Art , Cassill Nancy L.
Published: March 2016

The relationship between U.S. companies and Mexican maquiladoras has been evolving for more than thirty years. The original advantages of lower taxes, cheaper labor, quick delivery and special tariff treatments enabled U.S. companies to increase cost-effectiveness and remain competitive worldwide. The arrangement also brought employment opportunities and prosperity to the border region of Mexico. Over time, however, many of the original advantages for both the United States and Mexico have either eroded or disappeared completely. As political and economic changes have occurred, so have changes within the maquiladora industry. In addition, the maquiladoras now face increasing competition from other foreign countries for U.S. business once reserved for the maquiladoras. This paper will examine these issues and the implications of recent changes for both the maquiladora industry and for the U.S. companies who use their services.
Enron: The Good, The Bad, The Lessons
Authors: Zulauf Lori , Grierson Peter
Published: March 2016

The recent bankruptcy of Enron provides many opportunities for learning in all business disciplines. Beyond the obvious questions, such as How could a company as large as Enron fail? and Why didnt Arthur Andersen provide adequate assurance? lies a host of additional equally interesting questions. Why didnt external financial analysts detect problems earlier? Could the SEC and other regulators have done more to bring problems to light? Why was Sherron Watkins a lone voice in asking for an explanation?Beyond the immediate Enron debacle lies additional questions. How can we detect other companies in similar difficulty? What changes can we expect in accounting and auditing standards? What changes have occurred or can we expect in the oversight of businesses and auditors?This paper will provide a timeline of Enron developments, an analysis of the above questions, and additional discussion questions and teaching resources to foster critical thinking in the classroom.
Mentorship Theory And Current Practice: A Study Of Executives In The Greater Denver Region
Authors: Schornack Gary R. , Beck Charles E.
Published: March 2016

Mentoring is increasingly seen as a critical skill for modern business. It builds on a team concept that represents a win-win situation for the organization as a whole, for the mentor, and for the mentee. Mentoring focuses on work-related needs of the company while building the skills of individual employees. Our study incorporates an extensive literature review on best practices in mentoring, along with the results from interviews with 395 business executives in the Denver region. The discussion builds on a series of interviews conducted between 1998 and 2001 with executives who have had served as a mentor for at least one mentee.In examining mentorship theory and practice, we will focus initially on the challenge and expectations of mentoring programs within organizations, and how specific organizations face these issues. We will next consider the purpose of a mentoring program, looking at the objectives of the organization as well as of the various individual participants. The method for mentorship practice includes program dimensions such as the size, levels of formality, attitudes of those involved, and the various mentorship roles. Finally, we report how the mentee participants rated their experience.
Auditor Involvement With Law Enforcement Agencies: A Specialized Niche
Authors: Hintz Arthur F. , Fedoryshyn Michael W.
Published: March 2016

With over 18,000 state and local law enforcement agencies in the United States, opportunities exist for auditors to assist police agencies design and implement effective and efficient procedures for control of cash and other properties. Auditor involvement can improve police performance and help maintain public confidence in the police departments ability to serve and protect the public interest.The article discusses how auditors can provide a valuable service to police agencies by improving the agencies internal control over assets entrusted to them as evidence in criminal cases or to aid in their fight against crime. It discusses the needed audit procedures for such an engagement.The article also discusses the special audit procedures for police agencies, which are involved in the Federal Asset Forfeiture Program.
Interleague Play And The Big Mac Attack: Estimating The Within-Season Demand For Major League Baseball
Authors: Bruggink Thomas H. , Roosma Colin
Published: March 2016

Estimation of game-by-game attendance allows the testing of special attendance factors. In this study the attendance factors of interest are the drawing power of star players (especially homerun hitter Mark McGuire) and particular scheduling circumstances. The scheduling of interleague games (between the separate National and American League teams) is still a league experiment and deserves close scrutiny with respect to its attendance impact. Claims by league officials that interleague play increases attendance have not been subject to standard statistical controls. The opportunity cost of an interleague game was examined by economists before baseball adopted this experiment to increase attendance.
Earnings Management: The Role Of Accounting Professionals
Authors: Carruth Paul J.
Published: March 2016

In todays financial markets there is a great deal of pressure for corporations to meet investors earnings expectations. Failure to do so may result in the loss of millions of dollars in stock capitalization. As a result, an increasing number of corporate executives have succumbed to the temptation to manage their earnings in order to achieve targeted profits. The number of companies under investigation by the Securities and Exchange Commission (SEC) for possible accounting fraud related to earnings management has increased significantly in recent years. This article identifies and discusses four common areas of potential financial reporting abuse: restructuring costs, miscellaneous reserve accounts, materiality, and manipulation of revenue recognition. In addition, this paper discusses the vital role of accounting professionals as gatekeepers responsible for helping to maintain the viability of our financial markets.
Earnings Of Hispanic And Asian Immigrants: Are Hispanic Immigrants Discriminated Against?
Authors: Kim Jongsung
Published: March 2016

The heterogeneity of immigrants raises a question as to whether there is a general pattern of earnings progress that applies to all immigrants. As there are many types of immigrants, earnings patterns among immigrant groups are not well known. To fill in this research gap, this paper investigates the role of various determinants in the earnings process of two major immigrant groups: Hispanic and Asian immigrants. If there is a gap between these two immigrant groups, could it be a result of different human capital characteristics or some other factors? According to empirical results based on the 1990 Census of Population 5 percent Public Use Microdata Sample (PUMS), the decomposition of the earnings difference between immigrant groups indicates that approximately 28 percent of the gap is unexplained by the observable labor market characteristics. Cottons modified version of the Oaxaca-Blinder procedure is used to decompose the earnings gap.
An Internally Consistent Approach To Common Stock Valuation
Authors: Gorman Larry
Published: March 2016

A modern corporate finance curriculum typically extends the one-stage Gordon (1962) dividend discount model into a multi-stage environment. In such instances, each regime of constant dividend growth defines a distinct stage. The rate of sustainable dividend growth in each stage is typically determined by specifying the firms return on asset (ROA) and plowback (PB) ratios in each stage, and then computing the implied dividend growth rate as g = ROAPB.In a two-stage problem, current convention typically advocates that the first dividend in the second stage should equal the last dividend in the first stage, multiplied by 1 + g2, where g2 is the growth rate of dividends in the second stage. We show that the dividend stream generated with this methodology is inconsistent with the ROA and plowback assumptions used previously to compute g2. The implication is that the conventional pricing methodology results in stock valuations that are inconsistent with ROA and PB assumptions. For a common textbook problem, we demonstrate pricing errors on the order of 30%. In order to address the issue, we provide an alternative pricing methodology that results in valuations that are consistent with underlying assumptions.Pedagogically, when the proposed approach is contrasted with the traditional approach, the student is forced to develop a deeper fundamental understanding of how stock valuation relates to (i) operational efficiency, (ii) dividend policy, and (iii) the economic environment in which the firm competes.
Psychological Profiles Of Accountants And Accounting Majors: An Asian Study
Authors: Landry Jr. Raymond M.
Published: March 2016

Globalisation makes it inevitable for accounting professionals with diverse personalities to work under one roof. Such differences in behavioral patterns (Type A or Type B) impact performance in good and bad ways. This paper examines the psychological profile of Asian accounting professionals and accounting students using Type A or Type B behavior classifications. Examination of accounting professionals shows that Type B is the most common behavior among all professionals sampled and contrary to previous research, Type B also tended to be common even in higher management levels of the accounting firms. Accounting students also showed similar patterns. Type B behavior tended to be the most common psychological profile among both male and female accounting students while there is some evidence that Type A students do perform better as evidenced by self-reported grades. From the results, it is expected that future Asian accounting professionals to be dominated by Type Bs. This behavior pattern may cause problems unless dealt with properly as Asian professionals interact with non-Asian business partners and clients who may tend more towards Type A behavior. While recognition of this wont remedy the problem, understanding the cause of this potential conflict is a first step in identifying a solution to this future dilemma.
Performance Evaluation: A Review Article And An Empirical Investigation Of Greek Mutual Fund Managers
Authors: Philippas Nikolaos , Tsionas Efthymios
Published: March 2016

This paper surveys several mutual fund performance evaluation models. The models are applied to examine the performance of Greek equity and balanced mutual funds. Specifically, the Henriksson and Merton (1981), Bhattacharya and Pfleiderer (1983) and Lockwood and Kadiyala (1988) models are applied and compared. Empirical results show that models in which beta is treated as random variable imply superior manager performance in terms of selectivity, contrary to models based on the assumption of binary betas. All models are in agreement that fund managers do not exhibit superior macro-forecasting abilities.
Financial Indices And Profitability: An Empirical Investigation
Authors: Ventoura Zoe
Published: March 2016

This article deals with the impact of debt-to-equity ratio and investment on Greek manufacturing firms profitability, the latter measured by return on equity. The estimation results obtained by the panel data procedure revealed a strong positive, though different, impact on firms profitability.
Empowering Students To Create The Study Abroad Experience
Authors: Booth Bryan A. , Holoviak Stephen J.
Published: March 2016

The literature is filled with numerous findings demonstrating the benefits of a study abroad experience for a student. These benefits include the broad-based student growth that goes well beyond the topics studied abroad. There is also significant substantiation in the literature to suggest empowerment learning enriches and facilitates the total academic experience for students. This paper describes a class whereby preparing students for study abroad and marketing study abroad are integrated with empowerment techniques to create a more meaningful study abroad program. This class, the Global Business Exploration Program (GBEP) is student-managed and guided by the desire to promote the importance and benefits of global exploration. Consensus decision-making and other processes within Total Quality Management (TQM) are employed by the students to manage the GBEP class interactions. Ethnographic data collected over a four semester period (two years) were analyzed to illustrate the benefits as well as the difficulties of utilizing empowerment techniques to create the GBEP class and improve the study abroad program in the college of business.
The Proliferation Of Pawnshops And Check Cashing Outlets: Can Regulation Be To Blame?
Authors: Hendrickson Jill M.
Published: March 2016

Regulation, particularly in banking, is often meant to protect the consumer. The Community Reinvestment Act, codified in 1977, was intended to protect low-income depositors by encouraging banks to extend loans to such depositors. Unfortunately, there are some important unintended consequences of the act that actually harm, rather than protect, low-income individuals. Using panel data from the first quarter of 2000, this paper illustrates that the implementation of the 1977 act may actually explain the growth in pawnshop and check cashing outlets both of which are extremely expensive forms of intermediation for consumers.
A Logistic Regression Model For The Enhancement Of Student Retention: The Identification Of At-Risk Freshmen
Authors: Glynn Joseph G. , Sauer Paul L. , Miller Thomas E.
Published: March 2016

A logistic regression model will be developed to provide early identification of freshmen at risk of attrition. The early identification is accomplished literally within a couple of weeks after freshman orientation. The dependent variable of interest is persistence, and it is a binary, nominal variable. Students who proceed from freshman matriculation to graduation without ever having dropped out are labeled persistors. Freshman matriculates who leave college either temporarily or permanently are classified as dropouts. The independent variables employed to predict attrition include demographics, high school experiences, and attitudes, opinions, and values as reported on a survey administered during freshman orientation. The model and its results will be presented along with a brief description of the institutional intervention program designed to enhance student persistence.
Standardized Unexpected Earnings In The U. S. Technology Sector
Authors: Hsu H. Christine
Published: March 2016

Earnings surprise occurs when the firms reported earnings per share deviates from the street estimate. This study shows that earnings surprises are useful in identifying portfolios that yield excess returns in the U.S. tech sector. The tech portfolios with the most positive earnings surprises outperformed the tech portfolios with the most negative earnings surprises in terms of both mean and median returns in the U.S. stock market. The study demonstrates that arbitrage profits could be generated if investors bought (short sold) the tech stocks with the highest earnings surprises (the lowest) two or three months after the end of the quarter. The study demonstrates that this trading strategy is most effective when fewer rather than more financial analysts follow the firms.
An Empirical Study Of Application & Usefulness Of Activity-Based Costing And Activity-Based Management Techniques In Practice
Authors: Kiani Rajabali , Sangeladji Mohammad A.
Published: March 2016

The extent to which ABC and/or ABM techniques have become an active part of decision making apparatus in American companies can be best determined by direct contact with the actual and potential users of these techniques. This way a researcher can empirically and effectively evaluate the degree of usefulness of these techniques in running business operations. Because of the prominent role of Fortune 500 largest Industrial Corporations in American industry, and also their ability to select and implement the latest and most sophisticated accounting techniques for their operations, these corporations were deemed to be the best actual or potential users of ABC/ or ABM techniques, and hence they were selected for this study. Copies of a questionnaire containing 21 questions were mailed to the managers and controllers (via the presidents) of all Fortune 500 corporations in the United States. It was expected that the results of this research would assist the researchers to reject the null and sub-null hypotheses and conclude the degree of use and usefulness of ABC/ or ABM models in business operations and decision-making apparatus.
Global Abortion And Marketing Challenges For Misoprostol (Cytotec): The Future Of Womens Health
Authors: Antommattei Osvaldo , Khanfar Nile M. , Mujtaba Bahaudin G.
Published: March 2016

This paper provides an overview of the controversial drug Misoprostol (Cytotec) and its importance for womens health worldwide while presenting global challenges related to abortion. Furthermore, this paper discusses marketing challenges and opportunities that exist in todays global marketplace for this drug. Misoprostol is an approved drug utilized to prevent stomach ulcers caused by non-steroidal anti-inflammatory drugs (NSAIDs), but it also has an off label use as an abortion pill for which it is being used today. Worldwide implications are vast and Misoprostol presents a future challenge for clinical studies and marketing professionals.
Financial Market Participation Of Immigrants And Native-Born Americans: The Role Of Income Uncertainty
Authors: Chatterjee Swarn
Published: March 2016

This paper uses the National Longitudinal Survey dataset to examine the role of income uncertainty in explaining the likelihood of financial asset ownership among native-born and immigrant Americans. After controlling for a number of socioeconomic, demographic and behavioral factors, the results suggest that individual investors who face greater income uncertainty are less likely to own financial assets. This relationship holds true for immigrants and native-born Americans. Additionally, the likelihood of financial asset ownership increases with income, risk tolerance, and educational attainment for immigrants as well as for natives. Results also suggest that financial market participation among immigrants increases with the number of years they remain in the United States.
Job Security, Labour-Management Relations And Perceived Workers` Productivity In Industrial Organizations: Impact Of Technological Innovation
Authors: Akintayo Dayo Idowu
Published: March 2016

This study investigated the influence of technological innovation on job security, labour-management relations and perceived workers’ productivity in industrial organizations in Nigeria. The descriptive ex-post-facto research method was adopted for the study. A total of 321 respondents were selected for the purpose of the study using the proportionate stratified sampling technique. Three sets of questionnaires were utilized for data collection. The Pearson Product Moment Correlation and t- test statistics were used to test hypotheses generated for the study at 0.05 alpha levels. Findings revealed that a significant relationship does not exist between technological innovation and workers` job security. The findings further revealed that technological innovation has not significantly influenced harmonious labour-management relations. It was also found that there is no significant relationship between technological innovation and perceived workers` productivity. It is recommended that a participatory management style, which could foster workers` participation at the planning and implementation stages of technological innovation, should be encouraged among the managers in order to foster workers` participation in decision-making and workers` supportiveness towards implementation of technological innovation. Moreover, skill re-engineering programmes should be organized for workers at regular intervals in order to sensitize them and foster skill acquisition and utilization towards improved labour-management relations and increased productivity.
Financing The Nations Water Resources: State Options
Authors: Ziegler Joseph A.
Published: March 2016

The purpose of this study is to analyze alternative institutional arrangements and financing alternatives for water projects. The specific objectives are to identify existing institutional arrangements and financing alternatives for water projects and evaluate them with respect to efficiency and equity.
Developing Organizational Culture In Independently Owned Restaurants: Links To Service Quality And Customers Intentions To Return
Authors: Koutroumanis Dean A. , Watson Mary Anne , Dastoor Barbara R.
Published: March 2016

The study developed and tested a model of organizational culture and customer service as they relate to behavioral intention to return in independently owned, casual dining restaurants. It adds to previous work on organizational culture and hospitality as they related to service quality and behavioral intentions to return by assessing two types of organizational culture, clan and market types. Results indicate that, as proposed, clan culture type is positively related to high levels of perceived service quality and to intentions to return to the restaurant; however market culture type is, as expected, negatively related to intentions to return. The findings lead to practical applications for the restaurant industry with a blueprint for practitioners to develop and improve their service delivery practices in order to generate a larger number of repeat customers.
How Long Should An Individual At Full Retirement Age Delay Receiving Social Security Benefits?
Authors: Hebein Fred
Published: March 2016

n important topic for many individuals approaching 66 in 2011 is whether to start social security benefits at full retirement age (FRA) or to delay the benefits in order to gain greater payouts in the future. In 2009, the bonus for delaying the start of benefits rose to about 8% per year. By delaying benefits for four years (to age 70), it is possible to increase benefits by 38 to 55 percent per month for the remainder of the retirees life. In addition to the higher monthly benefits from delaying start of benefits, there are also substantial benefits for high income retirees in relocating to lower tax states. Also, given that the remaining age to death for most retirees at FRA is clearly finite, one would expect to see some value in discounting future earnings. Our paper evaluates accumulated benefits over a 25 year time horizon to assess retirement decisions post FRA. We consider three examples of accumulated benefits: (1) constant dollar accumulated benefits without discount or taxes; (2) alternative rates of discount of the future stream of earnings without income taxes; and (3) discounted after tax benefits. Each scenario is evaluated to assess whether delaying social security benefits past FRA is a profitable idea. Based upon our analysis, any discount rate in excess of 5% of the available after-tax returns provides no breakeven age within expected life ages. That is, at high discount rates, it is always better to start benefits at FRA or with only short delay once FRA is reached, if the individual wishes to maximize accumulated benefits over the expected life. At discount rates of less than 3%, the accumulated benefits may be increased within the expected life span by delaying the start of benefits. If no discount rate is applied, accumulated benefits are maximized by delayed start since all breakeven ages occur within life expectancy. In addition, we find that the negative impact of taxes on accumulated benefits can be as large as a discount rate of 3% on accumulated benefits. For high income retirees, a strategy of (1) relocating to lower tax states and (2) delaying the start of benefits can provide substantial increases to accumulated benefits. Finally, we note that the retirement decision is not entirely financial, but that many factors including family, spouse, work climate, health, expected life span, and fear of running out of money lead individuals into making decisions that may not optimize the present value of future benefits.
So What If I Dont Have An iPhone? The Unintended Consequences Of Using Arrogance In Advertising
Authors: Brown Haakon T.
Published: March 2016

Although the effects of arrogance on relationships have been studied within the field of personality and social psychology, there is a lack of research on the effects of corporate arrogance on relationships with consumers. In the current research, the author examines the effect of corporate arrogance (operationalized through the use of arrogance in a commercial) on consumers attitudes toward the brand and on their purchase intentions toward the product. In one experiment the author demonstrates that the use of arrogance in commercials has opposite effects on attitudes depending on a consumers previous experience with the brand. Specifically, individuals who are current users of the advertised product display an increase in attitudes, while those who do not currently use the advertised product demonstrate a decrease. Interestingly, the use of arrogance in commercials has a main effect on consumers purchase intentions. Specifically, all consumers, regardless of their previous experience with the advertised product, exhibit lower purchase intentions toward said product. This work makes a significant contribution to the field as it suggests that companies need to be especially careful about utilizing arrogance in their advertising because it may generate the opposite effect than what was intended.
Appearance Discrimination, Lookism And Lookphobia In The Workplace
Authors: Cavico Frank J. , Muffler Stephen C. , Mujtaba Bahaudin G.
Published: March 2016

This article focuses on appearance and attractiveness discrimination in the American workplace. As such, this article discusses issues related to lookism and lookphobia as a real challenge for managers who are recruiting, attracting, interviewing, hiring, appraising, and promoting employees. The article provides a discussion of societal norms concerning attractiveness, the existence of appearance discrimination in employment, the presence of preferring the pretty, and then the authors examine important civil rights laws that relate to such forms of discrimination. Finally, recommendations for employers and managers are provided for fair and non-discriminatory hiring and promotional practices.
Responding To State Sales Tax Laws For Online Retailers A Case Study Of Amazon And The States
Authors: Malaga Ross A.
Published: March 2016

As state budgets have come under increasing pressure, many states have enacted so called Amazon taxes that seek to have large online retailers collect state sales tax. States are attempting to expand the concept of nexus to include marketing affiliates and corporate subsidiaries. Amazon and other large retailers have reacted in different ways depending on the state and the specific legislation. This paper discusses the potential impact of these new laws and how both states and online retailers have dealt with the issues involved.
Managers Segment Financial Reporting Choice: An Analysis Of Firms Segment Reconciliations
Authors: Alfonso Elio , Hollie Dana , Yu Shaokun Carol
Published: March 2016

Under SFAS No. 131, a company is required to provide a reconciliation of the total of the reportable segments profit or loss to the firms consolidated income. This paper investigates these segment disclosures and related determinants of managers segment financial reporting choices. We focus on managers decisions to report segment-to-firm level reconciliations (i.e., segment reconciliations (SERs)) differences between firm-level and aggregated segment-level earnings. On average, we find that SERs are significant when the differences are not equal to zero. Firms with higher agency costs and greater accruals are less likely to report segment reconciliations. However, firms that have a greater number of segments, larger firms, and firms with higher leverage, losses, and greater earnings volatility are more likely to report SER?0. Consistent with managers having some segment reporting discretion, our overall findings suggest a managers segment reporting choice is partly driven by agency costs. Interestingly, among firms with reported segment reconciliations, firms with higher agency costs are more likely to report positive SERs. Consequently, this study documents a relation between proxies for agency costs and managers decisions to report segment reconciliations. Policy implications and suggestions for future research are discussed in the paper.
R&D Expenditures And Investors Perception For An Input On Innovation Creation And Firm Growth: Empirical Evidence From Athens Stock Exchange
Authors: Tahinakis Panayiotis , Samarinas Michalis
Published: March 2016

The question that the present study attempts to examine, concerns whether investors value the potential of Greek enterprises to produce innovation, in a way that it could lead them to higher productivity, profitability and future growth. An answer to such a question, seems to bear significance for a country that tries to understand the reasons for an underachieving economy, struggling for growth, both macro and microeconomic. If the answer is positive, this means that investors are affected in their decision for buying or selling a stock by the growth prospect that innovation, expressed with R&D spending, creates for an enterprise. R&D expenditures are used in this study, since they represent the enterprises input for the creation of innovation (Acs & Audretsch, 1988) and therefore, the effort for future development and firm growth. The approach employed, follows the same rationale as Green et al, (1996) and Stark and Thomas (1998) do. The R&D data that we have utilized, are collected from all the Athens Stock Exchange, (henceforth ASE), public firms for the period 2005-2010 that spend on R&D. The results, unlike previous research, depict a strong negative relation between R&D expenditures and stock price. In other words, investors in this Eurozone country do not consider R&D expenditures to be creators of innovation that will result in future growth, but they seem to be affected negatively in their assessment of the firms financial condition by R&D spending.
Measuring Internationality Of Board Members via Secondary Data A Comparison Of Methods
Authors: Sommer Lutz
Published: March 2016

he assessment of the internationality of board members is based on the quality of the assessment of each individual member. In practice, different indices based on secondary data are used to capture the internationality of management boards. The CVs of 213 board members of DAX-listed companies were analyzed with regard to internationally relevant data with the aim to compare the quality of the refined benchmark index InEx NWE+WE P to a selection of indices used in practice in terms of their information value. The results show that the partly very simplistic indices used in practice lead to significant distortions with regard to the assessment of the internationality of individual board members and thus of the management boards as whole. In other words, the simpler indices dont use the information potential of the existing secondary data sufficiently, thus enticing the viewer to partly significant misinterpretations.
Cash Balance Pension Plan Conversions: An Analysis Of Motivations And Pension Costs
Authors: D’Souza Julia , Jacob, (Deceased) John , Lougee Barbara
Published: March 2016

In recent years, many corporations have replaced their traditional defined benefit (DB) pension plans with cash balance (CB) plans, which share many of the characteristics of defined contribution plans. This study provides empirical evidence on the characteristics of CB converters and the behavior of pension costs and obligations pre- and post-conversion. We find that CB converters are larger than firms that retain traditional DB plans as well as those that terminate DB plans. They are less profitable than the former, but more profitable than the latter. CB conversions are not associated with proxies for greater labor mobility (e.g., firm-specific employee turnover rate). They are associated with a workforce that is closer to retirement, on average, lending credence to the breach of implicit contract rather than the labor market hypothesis as a motivator of CB conversions. Consistent with this intuition, we document that CB converters recognize a reduction of unrecognized prior service costs in the year of conversion, consistent with a negative plan amendment. Unlike pre-conversion, pension costs and obligations are significantly lower for CB firms post-conversion than for a matched sample of firms retaining traditional DB plans. CB conversions are more popular than DB plan terminations among firms with overfunded pension plans in periods when expected return on plan assets is likely to be high, with a consequent positive effect on reported income.
A Modest Proposal To Balance The Federal Budget
Authors: Matthews Robert B.
Published: March 2016

The total debt of the United States (US) federal government now exceeds annual Gross Domestic Product (GDP). This level has historically proved problematic in other countries. The primary driver of the debt is a federal budget deficit that now exceeds $1 trillion per year. Despite forecasts of dire consequences, the deficit and debt have not been controlled, as efforts to make meaningful reductionsincluding plans developed by the bipartisan Bowles-Simpson and Domenici-Rivlin groupshave so far fallen prey to infighting in the political process. This paper examines one approach to eliminate the annual deficit, balance the federal budget, and reduce the federal debt. This approach increases tax revenues with a flat income tax applied to a broader tax base plus a consumption tax. Health and welfare spending is reformed using the Boortz-Linder Prebate and the Bismarck social-insurance health care plan to provide a more comprehensive safety net. Defense spending is reduced by making greater use of reserve forces following the model of Sweden, Switzerland, and Israel, by reducing overseas deployments, and by reforming procurement. Many unnecessary or counterproductive activities are cancelled, transferred to the states, or privatized. Social security is placed on a sound footing for the future. These proposals are based in large part upon programs and procedures that have produced positive results in other countries. This approach is offered not as the only or best solution, but rather to indicate that solution is possible and to lead to further discussion.
Examining Basss Transformational Leadership In Public Sector Executives: A Psychometric Properties Review
Authors: Hemsworth David , Muterera Jonathan , Baregheh Anahita
Published: March 2016

The psychometric properties of the measure of transformational leadership as measured by 20 items in Bass and Avolios Multifactor Leadership Questionnaire (MLQ) (Form 5x) were examined. The examination was based on a sample of 372 chief executives in the United States government.