bluuebunny/crossref_metadata_2025 huggingface dataset:
Teatro como uma ferramenta de formação política para as integrantes do grupo “MMC: resistência e arte”
Authors: Pereira Letícia
Published: December 2016

Este artigo pretende trazer o processo construído e vivenciado pelas mulheres camponesas militantes do Movimento de Mulheres Camponesas (MMC) no grupo de teatro MMC: Resistência e Arte. A metodologia se deu através da análise de duas peças teatrais, construídas e interpretadas por elas durante as ofi cinas e cursos. As técnicas utilizadas foram principalmente observação  participante e análise documental das duas peças.
Políticas públicas de cultura, esporte e lazer e a visão da juventude de São Mateus do Sul- Paraná
Authors: Milani Maria Luiza , Cardoso Cintia Brasil
Published: December 2016

O tema deste estudo refere-se às políticas públicas de cultura, esporte e lazer e como a juventude de São Mateus do Sul-PR entende como recurso para a satisfação de suas necessidades. O estudo objetiva analisar tais políticas públicas e os recursos institucionais públicos e privados que contribuem para o segmento da juventude no município. Trata-se de um estudo exploratório de natureza qualitativa, com jovens entre 15 e 24 anos. Resultados mostram incapacidade de entendimento pela juventude de seus direitos, descaso da gestão pública quanto a operacionalidade de políticas públicas como as de cultura, esporte e lazer. Estas estão composta por vasto rol de programas mas que não integram significativamente o conjunto das intervenções sociais sobre os interesses, necessidades e anseios em especial da juventude. Longe desses entendimentos e intervenções passa a relação da operacionalidade dessas politicas públicas pelas atividades turísticas.
Reflexões acerca do Turismo Cultural-Religioso e Festa Católica no Brasil
Authors: Aragão Ivan Rêgo
Published: December 2016

A partir de leituras sobre o turismo religioso, festa católica e religiosidade popular, o presente artigo tem o intuito de refletir acerca do turismo religioso como prática motivadora para a fé e crença comunal. O trabalho a seguir, ainda discute a singularidade da demanda que desenvolve a atividade turística no âmbito religioso. Romeiros, devotos, peregrinos, promesseiros, penitentes, turistas religiosos e curiosos são categorias independentes, mas que se imbricam para formar o grupo de atores sociais que se deslocam ao destino sagrado. Os resultados da reflexão apontam que, pessoas enquadradas nesse segmento turístico, possuem um perfil sui generis. Ainda assim, aparecem traços que as tornam encaixadas na forma de deslocamento do entorno habitual e fuga do cotidiano que são inerentes à atividade do turismo.
Sumário
Authors: Grifos Revista
Published: December 2016

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Editorial
Authors: Badalotti Rosana Maria , Magro Márcia Luiza Pit Dal , Tonezer Cristiane
Published: December 2016

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Reciclagem e gestão de resíduos sólidos como possibilidades para a geração de benefícios sociais, econômicos e ambientais
Authors: Souza Osmar Tomaz de , Chaves Iara Regina , Alvim Augusto Mussi
Published: December 2016

No presente artigo são apresentadas algumas reflexões relacionadas à produção e gestão dos resíduos sólidos no Brasil. Em particular, discute-se o potencial de geração de benefícios sociais, econômicos e ambientais da gestão de resíduos no país a partir das definições da Política Nacional de Resíduos Sólidos, criada por lei no ano de 2010. Esta define objetivos e metas para a gestão de resíduos no país. Dentre estes, destaca-se que até o ano de 2014 todos os municípios deveriam contar com a gestão ambientalmente correta dos resíduos, o que não foi cumprido, visto que o cenário recente mostra que em torno de 50% dos resíduos sólidos produzidos são destinados aos vazadouros a céu aberto, os “lixões”. Isso representa não somente um desperdício do ponto de vista econômico, como também do ponto de vista social e ambiental, dado o potencial que eles apresentam para o reuso e o reaproveitamento.
Produtos tradicionais e o desenvolvimento territorial rural: experiências de indicação geográfica no Brasil e Portugal
Authors: Pellin Valdinho
Published: December 2016

O processo de globalização tem provocado mudanças, tanto no modo de organização das empresas, quanto no comportamento dos consumidores. Uma das mudanças observadas é o crescente interesse dos consumidores por produtos tradicionais. Nesse contexto, Indicações Geográficas (IGs) podem ser entendidas como estratégias de desenvolvimento a partir do momento que possibilitam agregar valor a produtos ou serviços que possuem características próprias relacionadas ao território onde estão inseridas e valorizam tradições e processos de produção locais. Em concreto, este artigo pretende discutir a importância dos produtos tradicionais para o desenvolvimento territorial rural, sustentando a hipótese de que podem oferecem vantagens territoriais importantes, que precisam ser consideradas e estimuladas. Metodologicamente, parte de uma pesquisa bibliográfica de caráter descritivo que analisa duas experiências brasileiras – Vale dos Vinhedos e Cachaça Paraty e duas experiências portuguesas – Vinho do Porto e Queijo Serra da Estrela. A partir da análise dessas experiências foi possível identificar contribuições importantes para o desenvolvimento territorial rural, sobretudo na dimensão econômica com destaque para: agregação de valor ao produto, acesso a novos mercados e fortalecimento de atividades turísticas.
Saúde mental e trabalho: um estudo com agricultores orgânicos no sudoeste do Paraná
Authors: Teixeira Edival Sebastião , Lorenzzon Gabriella Suzana
Published: December 2016

O artigo apresenta uma pesquisa que teve por objetivo identificar representações sociais sobre trabalho e saúde mental em um grupo de agricultores orgânicos e analisar as relações entre tais representações e eventual aparecimento de sofrimento mental. Participaram da pesquisa 19 agricultores familiares de Capanema, Paraná. Os dados foram coletados por meio de um protocolo de observação do ambiente de trabalho dos sujeitos, bem como mediante a utilização de entrevista semiestruturada. Os resultados indicam que os agricultores orgânicos pesquisados representam o seu trabalho como algo potencialmente criador de saúde, de modo que, neste estudo, não foram identificados sinais de sofrimento mental nos sujeitos. Ao contrário, as representações identificadas têm muitos elementos em comum, então, para esses agricultores saúde implica trabalho e trabalho implica saúde.
A imigração alemã no litoral norte/RS: discursos sobre etnicidade e memória
Authors: Donner Sandra Cristina
Published: December 2016

Os discursos sobre a Imigração Alemã são múltiplos, podem vir dos historiadores acadêmicos, dos historiadores locais, dos centros de cultura. Este artigo é parte de uma reflexão maior, um projeto de doutoramento em História que pretende analisar os discursos dos historiadores amadores, não graduados, tendo como recorte o Litoral Norte/RS. O processo de Imigração Alemã nessa região também foi objeto das reflexões e pesquisas desses historiadores. A partir dos artigos presentes nos livros publicados pelos eventos de História Local, iremos apresentar as principais justificativas para a revitalização da memória da Imigração nessa região, bem como as questões de etnicidade presentes e a forma como estas são apresentadas ao público leitor. Por fim, a partir de Paul Ricoeur e François Hartog, iremos discutir os processos de memória e patrimonialização envolvendo a Imigração Alemã que estão em andamento nas últimas duas décadas no Litoral Norte/RS.
As manifestações biopolíticas na conformação dos espaços citadinos do Planalto Norte Catarinense e suas implicações em relação ao Desenvolvimento Regional
Authors: Bazzanella Sandro Luiz , Silva Silvano Silvero da
Published: December 2016

Este artigo é resultante do projeto de pesquisa intitulado “A relação biopolítica na conformação dos espaços citadinos do Planalto Norte Catarinense e suas implicações no desenvolvimento regional”, desenvolvido entre os anos de 2013 e 2014, na Universidade do Contestado. Por meio deste projeto, buscou-se identificar as manifestações biopolíticas na conformação dos espaços citadinos das cidades de Canoinhas e Três Barras como forma de conferir efetividade à administrabilidade da vida e da morte de tais cidadãos. A partir dos pressupostos teóricos e conceituais advindos da filosofia políticojurídica do filósofo italiano Giorgio Agamben, a cidade pode se apresentar e ser analisada como paradigma político da contemporaneidade, que se expressa no campo de concentração, lugar onde se potencializa o viver e se administra o morrer.
Governança nos territórios ou governança territorial: distância entre concepções teóricas e a prática
Authors: Dallabrida Valdir Roque , Marchesan Jairo , Rossetto Adriana Marques , Filippim Eliane Salete
Published: December 2016

Uma das inovações recentes nos territórios é a utilização de diferentes estruturas de governançaterritorial, por meio das quais uma sociedade organizada territorialmente gere os assuntos públicosa partir do envolvimento conjunto e cooperativo dos atores sociais, econômicos e institucionais,incluindo o Estado nas suas diferentes instâncias. Os recortes que venham a ser identificados comoum território, evidentemente, precisam estar demarcados por laços de identidade territorial, a qualé a condição necessária para uma maior participação democrática dos cidadãos no destino de seuentorno espacial. Assim, partindo das premissas contidas nas concepções teóricas, avaliam-se práticasde governança territorial no Brasil, a partir de estudos de dois tipos de estruturas de governança: adescentralização político-administrativa, no estado de Santa Catariana e as experiências de IndicaçãoGeográfica (IG) no Brasil. Os estudos adotaram abordagem qualitativa, com coleta de dados medianteentrevistas e pesquisa documental. A fundamentação teórica permitiu a definição de 6 categoriasde análise com as quais os dados foram tratados e analisados. Tanto a análise de experiências deprocessos descentralizadores subnacionais quanto as análises preliminares de experiências de IG,feitas no Brasil, permitem concluir que ainda há uma grande distância entre as concepções teóricas eas práticas de governança territorial.
O Perfil dos beneficiários do Programa Bolsa Família no Município de Chapecó – SC
Authors: Medeiros Bruna Taize de , Santos Viviane Freitas
Published: December 2016

O objetivo desta pesquisa foi de caracterizar o perfil dos beneficiários do Programa Bolsa Família no município de Chapecó/SC. A pesquisa é uma réplica do trabalho realizado para o município de São Felipe, na Bahia, intitulado como “Bolsa Família: uma análise a partir da concepção dos beneficiários de São Felipe-BA”. Questiona-se se o programa tem a capacidade de oferecer um alívio imediato da pobreza, em curto prazo, e se permite a emancipação das famílias beneficiárias, em longo prazo. Para tanto, foram realizadas entrevistas semiestruturadas com os beneficiários do Programa Bolsa Família (PBF). Os resultados apontam que o referido programa, em curso prazo, promove uma redução imediata da pobreza; porém, em longo prazo não fornece meios para que as pessoas beneficiárias saiam da situação de vulnerabilidade social na qual se encontram. A pesquisa limitou-se ao município de Chapecó, situado na Região Sul do Brasil, Micro Região Oeste de Santa Catarina, Mesorregião Grande Fronteira do Mercosul, em virtude de esta ser considerada cidade polo do oeste catarinense e por ter um número considerável de famílias beneficiárias do Programa Bolsa Família.
Reforma da Logística Portuária no espaço brasileiro
Authors: Cunha Claussia Neumann da
Published: December 2016

A lucratividade não está relacionada somente à redução de custos e vendas em grande quantidade, mas sim à entrega de um produto capaz de ser considerado único nos espaços mercantis, englobando qualidade, preço e serviço ofertado. A logística aplicada no Porto de Rio Grande deve ser considerada como a estratégia mais oportuna para satisfazer, a um baixo custo, as exigências do mercado atual. Nesse contexto, o objetivo deste artigo é destacar os entraves da logística portuária no Porto de Rio Grande (Porto Novo/Tecon). A pesquisa classifica-se como bibliográfica, com caráter exploratório-descritivo, de natureza qualitativa. Constatou-se que a maior mudança está relacionada à conscientização do empresariado quanto aos empreendimentos necessários para a qualificação de suas atividades logísticas. Os gargalos citados no referencial deste artigo referem-se à estrutura física portuária, mas também é importante analisar a qualificação dos profissionais ligados às atividades portuárias no Porto de Rio Grande. A pesquisa conclui que há necessidade de repensar o desenvolvimento urbano na Cidade de Rio Grande e não somente o desenvolvimento da infraestrutura física portuária.
Impact of enforcement and corporate governance attributes on performance
Authors: García José Villanueva , García-Benau Maria Antonia , Grima Ana Zorio
Published: December 2016

Since 2005, consolidated financial statements of European listed groups have been prepared according to IFRS. Nevertheless, the recent economic crisis on top of financial scandals has highlighted the role of oversight agencies and the importance of corporate governance. The purpose of this study is to look into the impact of corporate governance and the work of the Spanish Securities Exchange Commission (CNMV) on the performance of Spanish listed groups; as well as observing the links between enforcement actions and corporate governance. In a sample of 116 Spanish listed groups during the period 2005-2011 we have applied structural equations model (SEM) for hypothesis testing. The results obtained suggest there is a significant positive relationship between the corporate governance variables and company performance and a significant negative relationship between enforcement and performance. We also identify a significant positive relationship between enforcement action and corporate governance, which validates the theoretical model proposed.
Corporate characteristics of listed companies engaging in web-based financial reporting in emerging economies
Authors: Oyelere Peter B. , Kuruppu Nirosh T.
Published: December 2016

We investigate the key corporate characteristics of using the web for voluntary disclosure of financial information in an emerging economy by companies listed in the United Arab Emirates (UAE). The 132 companies listed on two stock exchanges were investigated to ascertain whether they engage in web-based financial reporting (IFR) or not. Eighty-eight of the companies (about 67%) were found to use their websites for IFR. Similar to prior studies in this area, logistic multiple regression was used to isolate the key corporate characteristics of IFR companies (IFRC) from non-IFR companies (N-IFRC). Results indicate firm size and leverage to be the key determinants of voluntary IFR adoption. Surprisingly, other traditional firm characteristics, such as profitability, industry and liquidity do not explain IFR practices. Policy implications of these findings, as well as the limitations of the study, which provide potential areas for future research, are also discussed.
IFRS adoption and accounting quality: Evidence from the Nigerian banking sector
Authors: Uwuigbe Uwalomwa , Emeni Francis Kehinde , Uwuigbe Olubukola Ranti , Ataiwrehe Maryjane Chojakeme
Published: December 2016

This paper examined whether mandatory adoption of IFRS is associated with improvement in accounting quality of banks listed on the Nigerian Stock Exchange (NSE). The study made use of secondary data; data were extracted from financial statements from 2010 – 2013. The data were analyzed using Ordinary Least Square (OLS) from SPSS. The findings of the study revealed that after the adoption of IFRS, the rate at which Nigerian banks engage in income smoothing increased, while earnings management towards small positive earnings reduced, thus reducing the quality of accounting amount disclosed in the financial statements. The findings of this study have effect on the efficiency of the stock market. Therefore, other bodies, such as SEC, BOFIA, among others should put in place measures that will limit the extent to which bank managers uses their discretion and alternatives in accounting standards to manage earnings.
From standard jobs to ‘green jobs’: a strategy for developing markets
Authors: Esposto Alexis , Annakis John
Published: December 2016

Like many developing countries, Thailand is currently coping with a host of environmental challenges and a need to reduce carbon emissions. To tackle this challenge, Thailand has produced policies designed to enhance environmental conservation. However, without the development of its labour force with suitable and up to date job skills this challenge becomes difficult to achieve. This paper presents a rationale for the emergence of green occupations as a means of transitioning Thailand’s tourism sector into a low carbon economy. A mechanism for achieving this goal is by training and retraining the workforce with a set of well-defined green knowledge and skill sets. These can be developed through the development and implementation of ‘green competencies’. This paper presents a methodology of how to transition a standard job into a green job in the tourism sector by developing green sustainable competencies
Managing fraud risk: A study of the private hospital sector of South Africa
Authors: Maree Grebe Gerhard Philip
Published: December 2016

Ethical and legal decisions are made daily by healthcare professionals and personnel in the performance of their regular duties. However, fraud risk has become a threat to the sustainability of industries and organisations, including the healthcare sector. In the South African healthcare sector, losses due to fraud risk amounted to R13 billion during 2015(Bateman, 2015). The purpose of the study on which this article reports, was to assess whether private hospitals managed fraud risk effectively and in a cohesive manner. Failure to manage fraud risk threatens the sustainability of any hospital. Primary data was collected by means of a survey, which involved management staff at head office level and at hospital level. The findings suggested that South African private hospitals appreciate the significance of the management of fraud, but there is room for improvement. It is recommended that private hospitals follow a decentralised business model and decentralising risk ownership in order to manage fraud risk more effectively. Risk management training should be provided to staff members on a regular basis and a King-type regime should be adopted by private hospitals with regard to the management of risks.
Determinants of sustainable growth: A comparative analysis of conventional and Islamic banks
Authors: Nawaz Tasawar
Published: December 2016

The purpose of this paper is to empirically examine the effect of intangible and financial resources on accounting- and market-based performance of two bank business models i.e. conventional and Islamic banks operating in fourteen different countries worldwide for two periods referred as pre (2006-2007) and post (2009-2010) financial crisis (568 observations). The required data to calculate different constituents of intangible (i.e. intellectual capital (IC)) and financial resources is derived from Bankscope database. The results reveal that both IC and financial capital resources are necessary for banks being conventional or Islamic to create value at all times i.e. pre- and post-crisis period. The results further indicate a positive relationship between IC, financial capital and accounting performance of both sets of banking; however IC and financial capital are only significantly associated with the market value of Islamic banks.
Brazilian term structure of interest rate modeling: A Nelson-Siegel approach
Authors: Barbaceia Gonçalves Adalto , Tumenas Marques Felipe
Published: December 2016

Forecasting interest rates structures plays a fundamental role in the fixed income and bond markets. The development of dynamic modeling, especially after Nelson and Siegel (1987) work, parsimonious models based in a few parameter shed light over a new path for the market players. Despite the extensive literature on the term structure of interest rates modeling and the existence in the Brazilian market of various yield curves from different traded asset classes, the literature focused only in the fixed rate curve. In this work we expand the existing literature on modeling the term structure of Brazilian interest rates evaluating all the yield curves of Brazilian market using the methodology proposed by Nelson and Siegel. We use Non Linear Least Squares (NLLS) to estimate the model parameters for almost 10 years of monthly data and model these parameters with the traditional VAR/VEC model. The results show that it is possible to estimate the Nelson Siegel model for the Brazilian curves. It remains for future research the modeling of their variances as well as the possibility to develop a global Brazilian model using Kalman Filter using the Diebold. Li. and Yue (2006) approach.
Financial bootstrapping and the small business sector in a developing economy
Authors: Zwane Bonginkosi Keith , Nyide Celani John
Published: December 2016

The assumption in academic literature and public debate is that lack of financial resources generally restrains small businesses’ development and growth. With the constraints that small businesses face to access outside funding, there is a need to investigate bootstrapping as a means of obtaining resources which will lead to a reduction in the need for outside financing. The challenge facing small businesses in terms of obtaining finance from traditional sources has necessitated this study. A sample was chosen on a non-probability basis using convenience sampling of small business owners within the eThekwini Municipality, KwaZulu-Natal, South Africa. 83 participants completed the questionnaire. The data collected was analysed using descriptive and inferential statistics. The findings regarding awareness of financial bootstrapping as a source of funding remains unknown. The evidence in the study shows that a number of respondents unknowingly used some of the bootstrapping methods.
Determinants of earnings management in the hotel industry: An international perspective
Authors: Sousa Paiva Inna , Lourenço Isabel
Published: December 2016

This paper analyzes the determinants of the level of earnings management in a wide sample of listed firms from the hotel industry in 15 countries. The empirical study relies on the discretionary accruals, as an indication of earnings management, and examines the firm and country characteristics that are potentially associated with those discretionary accruals. The results suggest that firm characteristics, including the leverage ratio, cash flow from operations, investment opportunities and the frequency of losses, are the major determinant of earnings management in the hotel industry around the world. Our results also show that firms with five star hotels have different incentives to manipulate earnings, when compared to firms holding lower quality hotels. The hotels’ star rating also seems to play a different role in explaining the level of earnings management in common-law countries, when compared to code-law countries. This paper contributes to the accounting literature by examining the determinants of earnings management of a large panel of firms from the hotel industry and by focusing on the characteristics of the firm and its institutional environment.
In search of effective corporate governance. An explorative research within the context of semi-public housing management in the Netherlands
Authors: van Dreven C.F. , Koolma H.M.
Published: December 2016

In this paper we elaborate, supported by literature on trust, a framework for corporate governance that might overcome lacunas in the classical frameworks of the principal agency theory and the stewardship theory. A historical analysis of the development of corporate governance in the context of the Dutch semi-public housing management shows that a mixture of principal agency and stewardship approach of semi-public managers proves to be contradictory and toxic. A discourse analysis and factor analysis report on the search of actors for a more effective corporate governance. The findings are only indicative, due to the explorative stage of the research. The indication is that third framework gets more positive and consistent support in the corporate governance practice. A longitudinal set up and extension of samples and contexts is recommended.
Corporate governance systems and sustainability: CSR as a factor of convergence between outsider and insider systems
Authors: Salvioni Daniela M. , Franzoni Simona , Gennari Francesca
Published: December 2016

In an era of increasing capital mobility and globalisation, the growing integration of financial markets seems to be a key factor of corporate governance convergence. One of the most striking differences between corporate governance systems of different countries is the dissimilarity in the firms’ ownership and control that exists across countries. According to the degree of ownership and control, corporate governance systems can be distinguished in outsider systems (characterised by wide dispersed ownership) and insider systems (characterised by concentrated ownership). The transition from a governance approach founded on the shareholder view and oriented to the optimization of economic performance to a policy founded on the stakeholder view and oriented to the appreciation of the interdependence among economic, social and environmental responsibility, seems to be a factor of de facto convergence between outsider and insider systems of corporate governance. The main finding of this chapter is that the effective integration of CSR, sustainability and leadership makes easier the convergence between insider and outsider corporate governance systems. Leadership starts at board level. Corporate social responsibility (CSR) and sustainability require good corporate governance, grounded on stakeholder engagement, fairness, transparency and accountability. All these principles are related with more externally focused boards and determine a governance approach directed to the growth of sustainable value. In light of the above, this chapter will consider how the social responsibility and the role of the leaders (CEOs, Board of Directors, managers, etc.) can determine a governance approach directed to the growth of sustainable value over time. This is possible through the exploitation of opportunities and the economic and social risk management with which the companies should compete. The achievement of sustainability leadership requires significant changes in the operational guidelines and critical factors for company’s success and it imposes the improvement of the internal control systems intended to provide essential support for responsible governance. Therefore, leadership aiming at sustainability (regardless of the corporate governance system) requires CSR to be transferred from top management to the entire organisation, increasing the ability to manage complexity with respect to articulated goals. So, the corporate social responsibility, if properly realized, tends to be a factor of substantial convergence between the different existing systems of corporate governance.
Dual class firms and debt issuance
Authors: Basu Nilanjan , Qiu Ming
Published: December 2016

We examine the manner in which debt issuance by dual class firms differs from that issued by comparable single-class firms. Using the comprehensive sample of dual class firms compiled by Gompers, Ishii, and Metrick (2010), we find that dual class firms tend to borrow at lower interest rates and for longer maturities but face more covenants, especially performance based covenants. Our results are robust to corrections for the endogenous choice of dual class share structures. We also find that the returns earned by the stocks of these dual class firms have lower volatility. Our findings are consistent with the conjecture that dual class firms tend to avoid idiosyncratic risk and that with the help of performance based covenants, creditors are able to create safer lending opportunities with dual class firms than with single-class firms.
Cooperation’s characteristics for potential innovative SMEs in crisis: The Greek paradigm
Authors: Christos Lemonakis , Vassakis Konstantinos , Alexandros Garefalakis , Despoina Michailidou
Published: December 2016

This study focuses on the role of business cooperation and firms’ exporting activity as the determinants of Greek manufacturing SMEs’ innovative extend use, contributing to the existing empirical literature. The empirical analysis based on unique both quantitative and qualitative data, derived from a survey covering more than 158 small and medium-sized Greek manufacturing firms, and examines factors affecting innovation activity, emphasizing on clustering activities. We find that inter-firm cooperation enhances innovation activity, which in turn empowers firms’ growth by improving domestic and overseas sales performance. This study opens the floor for a greater perspective in managerial and financial firms’ characteristics; Firms should take initiatives to promote collaborative networks for innovation and create trade associations that represent SMEs, in order to facilitate social interaction. Also, government should offer incentives to SMEs with high innovation potential (e.g. tax allowances) and invigorate linkages between universities, research centers and the private sector by creating effective institutional arrangements. Finally, we seek to provide policy implications to business owners, policy makers and academics, to optimize performance, in the shadow of economic turbulence that the country experiences.
Efficiency, Value addition and performance of US bank mergers
Authors: Faisal Khan Abu Naiahn , Hassan Kabir , Maroney Neal , Rubio Jose Francisco
Published: December 2016

There is little consensus regarding the overall performance of mergers and acquisitions in the banking industry. The goal of this paper is to investigate the change in operating performance, efficiency, and value addition of US bank mergers and acquisitions after GLBA. We extend the previous research by combining all the previous methodologies used in mergers and acquisitions studies and add a new methodology, namely Expected EVA improvement. We will test whether these performance metrics yield similar results or if the performance of mergers varies depending on the measurements. We will also examine the factors that have significant impact on changes in bank performance. Our empirical results lead to the conclusion that the industry-adjusted operating performance of merged banks increases significantly after a merger. This finding is consistent with the findings of Cornett et al. (2006).We also find that the acquirer expected EVA improvement increases significantly after a merger. Revenue enhancement opportunity appears to be more profitable if there exists more opportunity for cost cutting such as geographically focused and diversified mergers. Product diversification mergers increase the industry adjusted performance more than product focused mergers. The efficiency or profitability of targets have either a positive or no effect on acquirer performance.
Towards improvement of ethics in the public sector in Zimbabwe
Authors: Chigudu Daniel
Published: December 2016

In Zimbabwe reports of abuse of public office have manifested in various forms resulting in public outcry; poor service delivery, and government losing millions of dollars. This study aims to undertake a reflective inquiry on the ethical conduct in the Zimbabwean public sector through content and process analysis in order to provide intervention mechanisms to the problem. Statistical analysis of corruption level is made to benefit the study. Results indicated some legislative gaps and an incapacitated Anti-Corruption Commission which has been unable to execute its mandate fully. Most senior public officials and politicians appear to have too much power and authority with no checks and balances in place. Practical implications of the widespread unethical practices call for the government to plug the glaring legislative gaps; take stern measures against offenders; empowering the Anti-Corruption Commission; term limits for senior public officials as well as for political appointments; and motivating political will to uphold ethical leadership. The recommendations will open a window for the Zimbabwean government and administrators to view how some advanced economies have propped up ethical behaviour in the public sector. It is the way to go for ailing economies like Zimbabwe. The paper demonstrated the importance of ethical awareness in another political and economic setting-Zimbabwe.
The role of interviewers in job effective recruitment and selection processes
Authors: Odeku Kola
Published: December 2016

Interview processes are dynamic and sometimes very sensitive and as such, they need to be managed effectively and efficiently by evaluating applicants equally without showing favour or prejudice prior, during and until all processes have been completed. A lot of interview processes for purposes of appointment selections have been tainted with unethical practices where the panellists, who took part in the processes, displayed various forms of partisanship, prejudices and so on. Sometimes, a selector may have premeditated negative mind set towards an applicant which may be evidenced during the interview. This may impact on the reasoning and judgements of the selector and the panellists, thus influencing the decisions of the selector. A brilliant and well performed applicant may be found unqualified Ineffective selection and recruitment processes are increasingly affecting employers by denting their cooperate image and sometimes being subjected to vicious legal battles in courts. This article examines the problems associated with prejudices and unethical practices during selection processes particularly by the recruiters and selectors. It points out that panellists must be properly scrutinised before they are appointed to be part of any selection process and that they should disclose any interest, prejudices, bias and so on that could affect the outcome of the process. It is argued that any member of the panel who is found to have compromised his or her position in any selection processes should be punitively sanctioned.
Governance quality impact on health economics in selected countries: The panel data approach
Authors: Salatin Parvaneh , Noorpoor Naahid
Published: December 2016

The purpose of this paper is investigating the theoretical relationship between the effectiveness of governance quality on health economics in selected middle-income countries, using panel data. The Results of the estimation by using the Method of Generalized Least Squares (GLS) & Generalized Method of Moments (GMM) in selected countries for the period 2002-2011 show that governance quality has positive & significant effect on the life expectancy as an index showing the health economics in the group of the selected countries.
Towards an interpretive measurement framework to assess the levels of integrated and integrative thinking within organisations
Authors: Schörger Daniel , Sewchurran Kosheek
Published: December 2016

This research study is located within the context of corporate reporting and is relevant for the agenda of sustainability and sustainable development. The specific context for this study is the South African mining industry, within which three units in the form of three companies, were chosen to provide a coherent case for this study. The sample for the analysis is based on the integrated reports of these companies for the years 2012 and 2013. This gives this research a total sample size of six reports. Based on the research findings an initial interpretive measurement framework to assess the levels of capital integration has been theorised which enables the various stakeholders of an organisation to assess the integrated and integrative thinking capabilities. The level of integration is represented as a maturity scale on which integrated thinking is associated with the lower levels, while integrative thinking is attributed to higher levels of maturity. In the elaborated framework, integrated thinking is perceived as being a prerequisite for integrative thinking. The practical implication of this study is that it provides a potential measurement framework for various organisational stakeholders, including investors, to assess the thinking capabilities that are more likely to lead to long term financial stability and sustainability. The value of this research study is that it provides an initial step towards measuring the level of integrated and integrative thinking capabilities within organisations where no such measurement framework currently exists. The limitations and implications of this research study are that the interpretive measurement framework represents merely an initial step and an ongoing working hypothesis which requires further research to develop its maturity and usefulness.
A talmudic perspective of the Zimbabwean banking crisis of 2004/2005
Authors: Maune Alexander
Published: December 2016

This article reviews the Zimbabwean banking crisis of 2004/2005 from a Talmudic perspective using seven Talmudic halachic principles: honest weights and measures, transparency and accountability, deception, fraud and theft, conflict of interest, bribery, outright and subtle, misleading others, and honesty in business. Each principle is used to review the activities and behaviours that nearly collapsed the entire Zimbabwean banking sector in 2004/2005. It was found that almost all the principles were violated prior to the banking crisis. In conclusion, had all the parties involved acted in the spirit of the Talmudic rabbis, the Zimbabwean banking crisis would not have occurred. This article has therefore business and academic value.
Corporate social responsibility audit: Theoretical aspects
Authors: Koldovskyi Artem
Published: December 2016

This paper puts a conceptual framework to outline research for corporate social responsibility (CSR) audit based on the analysis of current CRS literature and audit models as implementation of CSR. It is intended to make clear the phenomena about the relationship between audit, implementation of business ethics principles and corporate governance. However, most studies do not take into account modify CSR audit. This paper reports part of a research we carried out on the theoretical interpretation of the corporate social responsibility audit. This paper examines the corporate social responsibility audit as a composition of four categories - management system audits, on-site audits, verbal probability expressions (VPE) audits and technology audits. The paper concludes suggests to systematize multiple audits so that they can be conduct in three types of audits - environmental management audits covering in-house companies, environmental technology audits of products, and environmental audits of sites, including non-manufacturing sites and non-consolidated subsidiaries.
Education within public management in South Africa: A focus on external Whole-School Evaluation process’ contribution in Mpumalanga province
Authors: Mathaba Richard Siphamandla Ryan , Dorasamy Nirmala
Published: December 2016

The study focused on the role played by public sector management in South Africa towards the country’s total development and improvement. This article also analyses how through the Whole School Evaluation (WSE) process, the education system in South Africa seeks to ensure that the schooling is effective. This paper examines public management, public administration as well as new public management (NPM). The aim is to illustrate a view of how education fits in the broader public management and how the WSE process assists schooling in South Africa and Mpumalanga in particular. This is to ensure that the schooling is effective and contribute towards service delivery and the country’s overall development and improvement. Furthermore, WSE as a process, is viewed through five of NPM undisputable and debatable characteristics of accountability for performance; performance measurement; performance auditing; policy analysis and evaluation; and strategic planning and management. Public management functions and public management principles are discussed from a point of how the WSE process strives to ensure that it complies with these function and principles, and how this compliance benefit school improvement. This paper came to a number of conclusions regarding education within public management from a WSE perspective. Firstly, education through the external WSE process conforms to this principle of New Public Management in that evaluation is aimed at improving the quality of education. Also, the external WSE, as a process, and education in general, through the NPM principles can be performed within public management. Furthermore, external WSE conforms to public management principles as well as Batho Pele principles.
Financial development and growth in Hungary
Authors: Tsaurai Kunofiwa
Published: December 2016

This study investigated the relationship between financial development and economic growth in Hungary using a case study approach. Majority of previous studies on the same or similar topic have so far used regression and or econometric methodologies to examine the nature of the relationship between financial development and economic growth. Not a single study the author is aware of used a case study approach to discuss the relationship between the two variables. It is against this background that the author decided to use the case study approach that allows the author to really deepen an understanding of the relationship between the two variables in Hungary. Apart from being narrowly focused on regression or econometric approaches, previous studies on the same or similar topic in Hungary excluded a broad range of financial development variables. The current study departs from these previous studies as it used a case study approach and taken into account a broad range of financial development variables. From the trend analysis done in section 3, it appears that the relationship between financial development and growth in Hungary during the period under study is not clear. A definite and clear cut conclusion could not be reached about the relationship between the two variables in Hungary hence the use of econometric data analysis approaches in conjuction with the case study approach is recommended.
Financial guarantees and public debt in South Africa
Authors: Miruka Collins Ogutu , Mah Gisele , Nchake Mamello Amelia
Published: December 2016

A few years since the worst of the Euro sovereign debt crisis, many nations, from Cyprus to Ireland, including South Africa are re-visiting their public debt management to avert or lessen the impact of similar such happenings in the future. There are a number of studies on risk assessments of fiscal sustainability; however, few focus on contingent liabilities and even fewer on financial guarantees. In South Africa, financial guarantees have consistently comprised just above or below 50% of all contingent liabilities since the early days of majoritarian rule. In lieu of this, the paper analyses the risks posed by financial guarantees to fiscal sustainability in South Africa. We estimate the effect of financial guarantees on public debt in South Africa via the Engle Granger and causality model with quarterly time series data obtained from the South African Reserve Bank (SARB) as well as the National Treasury. The data covers the April 1997 to December 2011 period. All econometric methods were executed using the statistical software package E-Views 7. We found that no long run relationship exists between national net loan debt and financial guarantees in South Africa. The pass rate of financial guarantees significantly affects its present value. The pass rate of financial guarantees has a predicting ability in determining the present value of national net loan debt. These findings may be contrary to what would be expected in the case of South Africa considering that the country is managing the issuance of financial guarantees prudently and that at present levels, there is no need for a radical policy shift. The study therefore offers a lesson to similar merging economies on the good governance of contingent liabilities.
The impact of risk on the financial performance of small medium enterprises in the construction industry in Eastern Cape, South Africa
Authors: Chiliya William , Rungani Ellen Chenesai , Chiliya Norman , Chikandiwa Christopher Tarisayi
Published: December 2016

Risk management has become the driving force for business success due to the everchanging business environment. The purpose of this study is to investigate the impact of the level of awareness and use of risk management techniques on the financial performance. The data was collected from 82 of Small Medium Enterprises (SMEs) owners/managers in the construction industry in Eastern Cape, South Africa. The results show that the level of awareness and use of risk management techniques have a significant impact on the financial performance of SMEs in the construction industry. The study recommends that the government, tertiary institutions, construction industry development board, and SME owners or managers in the construction industry should work together in improving the level of awareness and use of risk management techniques.
Upside and downside beta portfolio construction: A different approach to risk measurement and portfolio construction
Authors: Guy Austin
Published: December 2016

Traditional financial measurements of risk are limited to variance-based methodologies. The most common measurement tool is beta. The beta calculation, however, is directionally agnostic and relies on the assumption of a normal distribution. This is a poor metric by which risk is measured, and is incomplete. The ability to break down beta into Upside and Downside beta allows investors the ability to more intelligently build risk into a portfolio. Using three-year trailing betas may also allow investors the ability to benefit from mean reversion and generate excess returns on a risk-adjusted basis
The effectiveness of capital management in banks: Evidence from Ukrainian financial market
Authors: Kostyuk Alex , Ivanyi Kateryna
Published: December 2016

The main aim of this paper is to research the methods of defining the integral index of capital banks efficiency on the basis of corporate governance principles.The research identifies the main factors of capital banks efficiency on the basis of corporate governance principles, which give the opportunity to assess the financial performance in the banking sphere. The author suggests taking in integrated all relevant indicators by using the method of distances. In complex this method allows to include absolute points during assessing. The author defined the average range of the integral index of capital efficiency among domestic banks and banks with foreign capital on the basis of corporate governance principles.