bluuebunny/crossref_metadata_2025 huggingface dataset:
Integration Of Sustainability Principles Into Project Baselines Using A Comprehensive Indicator Set
Authors: Talbot Jude , Venkataraman Ray
Published: March 2016

Sustainability is defined as balancing the three concepts of people, planet, and profit to maximize the absolute value of an undertaking. Therefore it deals with the long term economic, social, and environmental effects of an undertaking. However, the definition of sustainability, which is focused on the long term, does not provide practical guidance to companies attempting to integrate sustainability into their projects, which by definition are temporary constructs. The imbalance between the definition of sustainability and the definition of a project has made it difficult to incorporate meaningful sustainability indicators into project baselines. In this paper we propose a framework for integrating sustainability into project baselines for consulting engineering projects in the industrial and resource extraction fields. This framework is based on using a sustainability indicator set that has been derived from existing sets applicable to industrial or resource extraction projects. The utility of the proposed framework and indicator set are back checked against a recently completed engineer, procure, and construction manage mining project undertaken by a large engineering and project management services organization.
Fragmentation And Segmentation: Marketing Global Benefits
Authors: Adams Russell
Published: March 2016

Though consumption culture and globalization are major themes impacting the modern landscape, there has been limited research in these areas due to, in part, the increasing fragmentation of markets. A case is made that the seemingly disparate views, cultural fragmentation and global segmentation can be harmonized. This paper presents a theoretical framework to understand how the fragmentation of markets and global segmentation strategies can be compatible. Due to the cultural convergence brought on by globalization and marketing intermediaries, global segments can be identified through the common needs sought by consumers.
Reduced Form Estimation Of The Noise Trading Model
Authors: Maheswaran S. , Balasubramanian G. , Yoonus C.A.
Published: March 2016

In this paper, we develop and implement the reduced form version of the Noise Trading Model in the Indian stock market, which we had proposed in an earlier paper. We show how to estimate the model without making any assumptions regarding the cross-sectional dependence that may exist among the individual stocks. This allows us to come up with precise estimates of the share of information versus noise in the opening stock price. To be specific, information accounts for 52% of the variance of the opening stock price and noise contributes to the rest. When we split the overall sample into weekend versus weekday, we find that the information share of the opening price is significantly higher after a weekend at 72% compared to 46% during the rest of the week.
A Determination Of The Trade Impacts Of The Australia-United States Free Trade Agreement
Authors: Kennedy P. Lynn , Hilbun Brian
Published: March 2016

This paper seeks to determine the impact of the Australia-United States Free Trade Agreement (AUSFTA) on the flow of trade between Australia and the United States. To accomplish this, time series data were gathered for 10 SITC REV. 1(0-9) classifications for the years 1985-2009. These data were then sorted into three sub-classes (by direction of trade flow): 1) U.S. exports for that particular SITC class to Australia, 2) vice versa, and then 3) total trade volume for that particular sub-class between the two nations. These three classifications for each SITC class were then regressed against the explanatory variables of GDP (both Australian/U.S.), Population (both Australian/U.S.), the Relative Exchange Rate (AU$/US$), and a dummy trade agreement variable, AUSFTA. The results suggest that AUSFTA has been a greater trade creation catalyst for Australia than for the United States. In fact, for the United States, a greater level of trade diversion has been the result.
Do Power Cuts Affect Productivity? A Case Study Of Nigerian Manufacturing Firms
Authors: Moyo Busani
Published: March 2016

The primary objective of this study is to examine the impact of power disruptions on firm productivity in the manufacturing sector in Nigeria. Using OLS and the Tobit models, results show that power outage variables (measured using hours per day without power and percentage of output lost due to power disruptions) have a negative and significant effect on productivity, particularly on small firms. The significance of power outage variables suggests that there is need for the Nigerian government to come up with ways of improving energy generation and supply, as well as proper maintenance of electricity infrastructure in the country. Deliberate efforts by the government to improve power infrastructure will result in the countrys being able to increase electricity production threefold and thus optimally utilize its installed generating capacity of 5900MW.
Stakeholder Goals In Family Businesses: Evidence From Upper Austria
Authors: Gartner Bernhard , Feldbauer-Durstmuller Birgit , Duller Christine
Published: March 2016

Research into the field of management accounting practices in family businesses is growing. A considerable number of publications in this field are now dedicated to exploring the differences between family and non-family businesses. This paper investigates stakeholder satisfaction and stakeholder information, which have thus far been neglected fields, both in management accounting and in family business research. Based on both contingency and stakeholder theory, we find that the contextual factors - firm type and firm size - cannot be regarded as determining factors in firms stakeholder goals.
Identifying The Factors That Influence Retail Customer Loyalty And Capitalising Them
Authors: Cant Michael Colin , Du Toit Michael
Published: March 2016

Much has been said about loyalty and the advantages that a loyal customer base offers to an organisation and more specifically to retail customers. With more than 2 billion loyalty programme memberships including hotel, supermarket, airline and financial services in the United States alone it is clear that loyalty programmes are an essential part of the marketing plan and strategy of retail organisations a road to survival, growth and profits. This study focussed on one particular clothing retailer in Gauteng that on its own represents 20.3% of the market making it the largest clothing retailer in South Africa. Gauteng was selected due to its stature as the largest clothing retailer in South Africa and also the nature of its customer base which consists of three distinct groups of customers: (1) cash only non-loyalty programme members, (2) cash only loyalty programme members, and (3) credit customers who purchase on terms. This study investigated the factors that influence customer loyalty amongst members of a retail loyalty programme in the apparel retail industry and found that the two most important drivers of customer loyalty were merchandise availability and customer service related variables. Price did not feature as an important driver of loyalty opening opportunities for retailers to focus on loyalty marketing strategies that do not revolve solely around price but rather focus on long-term relationship building. The responses received from this research were illuminating and will be of value to retailers who have an existing loyalty programme or are contemplating the starting of a programme.
Service Quality And Spectator Satisfaction On University Sporting Grounds
Authors: Cant Michael , Wiid Jan
Published: March 2016

The main aim of this study was to investigate the quality of service experienced by spectators at a sporting event, as well as to establish if there is a relationship between a core sport product and the product servicescape in conjunction with spectator satisfaction. The study also investigated the perceived value that spectators receive from the total sport product, which forms an integral part of the total market offering to spectators. It is important to establish this relationship as it will have an impact on future attendance of these types of events. In order to achieve the objectives of the study, a survey was distributed to spectators who watched soccer and basketball games on the grounds of a particular university. The respondents were exposed to the services, staff and activities in and around the stadium before, during, and after the matches to ascertain total satisfaction of the sporting event.
Loyalty Programme Roulette: The Loyal, The Committed, And The Polygamous
Authors: Du Toit Michael Noel , Cant Michael Colin
Published: March 2016

Loyalty programmes have two main aims, firstly to gather consumer data and secondly to create or maintain loyal behaviour amongst their customers. The aim of this study was to investigate the results of a loyalty programme and evaluate its effectiveness in encouraging loyal behaviour amongst members. In order to achieve this objective, a comparison was made between the loyal behaviour of members and non-members of a loyalty programme at a single clothing retailer by means of a structured questionnaire. Respondents were questioned about their perceived commitment to the retailer, their current purchase behaviour and their anticipated future behaviour with regards to long-term loyalty towards the retailer. In keeping with traditional loyalty theory, respondents were also asked to report on their willingness to recommend the retailer to their peers. The study showed that there is very little empirical evidence to support increased loyal behaviour as a direct result of loyalty programme membership. Evidence was presented however, that strongly supports a link between customers commitment to the retailer and their loyal behaviour regardless of their membership status.
The Role Of Gender Identity In The Behavior Of Bullying
Authors: Yubero Santiago , Larranaga Elisa , Del Rio Tatiana
Published: March 2016

We explore the relation between gender stereotyping in traits and roles and bullying. The sample is comprised by 1835 students (993 boys and 842 girls) from the 4th to 6th grade of Primary school from Castilla-La Mancha (Spain). In order to measure gender roles we have used Sex Role Scale for Children, whilst gender stereotypes have been measured with Childrens Personal Attributes Questionnaire. The levels of school aggression have been assessed through Instrument to assess the incidence of involvement in bully/victim interactions at school. The evolution of gender role has a higher significance at work-related than in family roles. In the study of gender traits boys and girls show traditional differential characteristics. Results prove the role of gender stereotypical trait in aggressive behaviour among pairs.
Technical Administrative Legal And Environmental Protection
Authors: Alonso Patricia Dominguez , Molina Jose Antonio Moreno
Published: March 2016

Environmental law uses various techniques or tools to achieve its aims and objectives and for the protection of individual rights and interests involved. Administrative techniques can be systematized in terms of their content, distinguishing between preventive intervention techniques, development tools, techniques of repression, environmental planning, trading instruments and complementary economic measures.
On The Relation Between Regulation And Economic Growth
Authors: Dar Atul A. , AmirKhalkhali Sal
Published: March 2016

This paper examines the relation between regulation and economic performance in the context of 23 developed economies. We apply a generalisation of the growth accounting model popularized by Solow to data over the 2002-2008 period. In the model, we assume that regulatory quality impacts on growth via its impact on total factor productivity growth. We look at three measures of regulatory quality, all of which are based on the set of governance indicators developed by the World Bank. The model is estimated using a fixed effects as well as a random effects estimation strategy. Our findings do lend support for the view that the better the quality of regulation, the higher rate of economic growth, but find no support for the view that the strength of the positive growth impact is stronger for countries that rank relatively lower on the regulatory quality scale.
NAFTA Effect On Company Values And Performance
Authors: Rakhmayil Sergiy , Yuce Ayse
Published: March 2016

This paper examines the long-term affect of NAFTA on company performances in Canada, Mexico, and the U.S.A. Our main focus is to study the impact of the liberalization process on various aspects of performance, including profitability, operating efficiency, investment, output, employment, leverage, and firm valuation. We discover that output, profitability and efficiency increased in all three countries, and other effects are country-specific. Overall, we find that NAFTA affected companies in the three countries positively and their profitability and efficiency increased which led to value increases.
Small-Scale Aid Donors, Agribusiness, And The Zambian Export Sector
Authors: Ledgerwood John R , Morgan Stephen N.
Published: March 2016

Production of high value agriculture and natural products has become a key instrument in economic development programs to accomplish the dual objectives of raising rural incomes and conserving valuable environmental resources. Rapid growth in global demand for organic and natural products has provided a strong economic incentive for small scale aid agencies to expand into this niche market. Through this analysis we investigate the economic impact that aid funded agricultural production has had on rural residents of Zambia and how this development strategy allows small scale aid donors to capitalize on the business and export opportunities in the Central African region. We want to determine what practices, if any, can be applied to other small development organizations working in economically deprived countries. The case for this analysis is Enright Flight Ministries, Inc. (EFM), a 501(c)3 not-for-profit organization with the dual objectives of promoting economic development and evangelism in Zambia. EFM has over 20 years experience in establishing agricultural production programs to support economic development in the Democratic Republic of the Congo and Zambia. Our focus will be on 5 major EFM agribusiness ventures: African hardwood products, organic honey, aloe vera, bananas, and fisheries. Analysis of the financial statements of EFM will be relied on to provide an accurate view of total investment into the various agricultural projects. Levels of investment will be discussed in light of the current global demand for each particular product. We break down project reports to determine what benefits accrue to both farm and non-farm rural Zambians. This financial analysis will be supplemented with semi-structured interviews performed with EFM administrative staff and aid recipients during the period August - December 2011. Special attention is paid to how aid recipients perceive the program benefits.
The Influences Of Macroeconomic Forces On The Value-Momentum Spread Of Global Equities
Authors: Hsieh Heng-Hsing , Hodnett Kathleen , Van Rensburg Paul
Published: March 2016

We extend our prior research on the determinants of the value-momentum spread of global equities to investigate the macroeconomic influences on this spread. The common arbitrage pricing theory (APT) macroeconomic forces identified by Chen, Roll and Ross (1986) are employed in a univariate test. Two significant variables extracted from the univariate test include the growth in the industrial production of advanced economies and the U.S. dollar strength relative to the currencies of developed economies. When these two variables are included in a two-factor regression, it is found that the industrial production growth is negatively correlated with the value-momentum spread, while the U.S. dollar strength is positively correlated with the value-momentum spread. Due to the fact that the value-momentum spread declines near the market peak and increases when the market crashes, the growth in industrial production could be regarded as an expansionary indicator and the U.S. dollar strength could be regarded as a contractionary indicator for future economic trends.
Inflation And Stock Market Returns In South Africa
Authors: Eita Joel Hinaunye
Published: March 2016

This paper investigated the relationship between stock market returns and inflation in South Africa and revealed that stock market returns and inflation in South Africa are positively related. An increase in inflation results in an increase in stock prices. The results also indicate that when all-share index is used as the measure of stock market returns, the causality is bi-directional. However, when gold index is used as a proxy for stock market returns, the causality is unidirectional, running from inflation to stock market returns. The positive association between these two variables suggests that equities are a hedge against inflation in South Africa.
Application Of Tactical Style Allocation For Global Equity Portfolios
Authors: Hsieh Heng-Hsing , Hodnett Kathleen , Van Rensburg Paul
Published: March 2016

Our earlier study suggests that there exists specific timing for the two prominent investment styles, value and momentum. We extend our prior research to test and evaluate a tactical style allocation (TSA) model based on the weighted least squares (WLS) technique for global equities over the out-of-sample period from 1994 through 2008. Two TSA style-based portfolios are constructed in this research, namely, a portfolio with the risk-free proxy (cash component), the global momentum index and the global value index as its constituents, and a portfolio that is comprised of only the global momentum index and the global value index. The optimized portfolios based on the TSA model outperform the MSCI World Index, the global value index and the global momentum index on a risk-adjusted basis over the examination period. The cash component of the style-based portfolio appears to provide necessary protection during financial market crises. The results of our study support the use of the proposed TSA model to perform active style rotation between value stocks and momentum stocks for global equity portfolios.
The Relationship Of Development Status Of Investee Countries And Investor Perceptions Of Foreign Earnings
Authors: Chin Chen-Lung , Chen Yu-Ju , Kleinman Gary , Lee Picheng
Published: March 2016

This study investigates the impact of corporate internationalization and the development status of investee countries on the foreign earnings response coefficient (FERC), which is a measure of the value-relevance of foreign earnings. To improve competitiveness, firms worldwide have expanded aggressively into foreign markets, thereby increasing their exposure to external risks and uncertainties on the one hand, and sources of growth and reward on the other. Using a Taiwanese sample, we found that greater corporate internationalization via investments in developed countries was positively related to the foreign ERC. We expected, and found, that companies can enhance the positive effects of internationalization by investing in countries that are relatively better developed than in countries that are less well developed. The public policy implications of these findings are discussed.
The Dynamics Of Financial Liberalisation In Ghana
Authors: Owusu Erasmus L. , Odhiambo Nicholas M.
Published: March 2016

This paper examines the role of financial liberalisation policies in Ghana and it finds that financial liberalisation policies have had positive effects in Ghana. However, the paper also finds that the same financial liberalisation policies have brought with them a number of interrelated problems that should be addressed by the country. These include the large interest rate spread, an increase in foreign currency deposits, constant depreciation of the domestic currency, a drastic increase in imports, and the reduction of credits to the productive sectors of the economy, as well as the problem of high lending rates which has discouraged investment in the productive sectors of the economy. The extent to which the government should intervene in the financial market to guide credit is still under discussion. The paper concludes that, on the whole, financial liberalisation policies have had beneficial effects in Ghana.
Continuous Education Of Older Employees: Cost Or Benefit?
Authors: Znidarsic Jana
Published: March 2016

The complexity of consequences of population ageing is posing a threat to the EU macro-economic performance, as well as to the competitiveness of every single enterprise. In this context, increases in participation and employment rates for older workers are essential to help sustain economic growth, and manage the rising financial burden on social protection systems. Between HRM approaches, policies and instruments continuous education of older employees seems to be extremely important when striving to prolong employees working life. Up-to-date knowledge improves older workers workability and enables people to remain employable. Moreover, it is beneficial for self-confidence, which in turn influences an intrinsic motivation for prolonging working life.The aim of this paper is to highlight the importance of continuous education of older employees and benefits that life-long learning brings to company. However, stereotyping older employees still puts numerous obstacles for continuous education and this is why the paper sheds light upon myths that need to be avoided. Simultaneously, real facts considering older employees education are brought up to the surface. Finally, the paper offers many suggestions for long-life learning with special emphasize on improving education of older employees.
Growth And Implications Of Social E-Commerce And Group Buying Daily Deal Sites: The Case Of Groupon And Livingsocial
Authors: Hughes Suzaan , Beukes Chantal
Published: March 2016

E-commerce has changed the nature of the value propositions that companies now offer to their customers. The convergence of content sites and social networks has resulted in emerging e-commerce business models. The group buying/local daily deals e-commerce platform represents the collective bargaining power that individuals can leverage to obtain daily deals on local products, services and experiences. These local discounted deals are distributed via e-mail and the websites of companies like Groupon and LivingSocial that have established themselves as the sector leaders. The convergence of traditional and electronic business models, as well as traditional and new business practices, are changing the face of global business as we know it. In this study, the authors critically reflect on the strategic management implications of the convergence of content, community and commerce in the form of social e-commerce and daily deal sites. The authors consider the implications of the rapid growth experienced by daily deal social group buying sites, in terms of strategy, and question its long-term value-creation. Future investors are urged to consider the long-term value-creation and not merely the short-term payoff of these sites. Merchants are urged to consider the practical implications of offering coupons on these sites for the day-to-day operation of their businesses.
Fiscal Sustainability And Fiscal Reaction Functions In The US And UK
Authors: Burger Philippe
Published: March 2016

Following the 2008/9 financial and economic crisis, public debt/GDP ratios in several countries rose to their highest levels in 40 years. Also in the US and the UK did the public debt/GDP ratios increase significantly, thereby putting the spotlight again on fiscal sustainability. Based on past behaviour, this article asks whether fiscal policy in these two countries is likely to be sustainable. The article investigates how the US and UK governments, by changing their deficits, react to changes in their debt positions. To do this, the article estimates fiscal reaction functions using Smooth Transition Regressions. It finds that based on past behaviour, fiscal policy in both the US and UK can be expected to remain sustainable. Based on the same past behaviour, and assuming this behaviour will continue in the future, the article also calculates the levels to which the public debt/GDP ratios in the US and UK can be expected to converge.
Personal Identity And Nostalgia For The Distant Land Of Past: Legacy Tourism
Authors: Ray Nina M. , McCain Gary
Published: March 2016

The past is certainly a distant land and getting there is a difficult and imperfect undertaking (Brown, Hirschman & Maclaran (2006). This paper explores motivations behind how consumers reach that distant land. Over 1,000 respondents of a variety of ethnic groups show very different stories and diaspora timelines, but personal identity and connection with place are always top ranked motivations for interest in ancestors. How might groups, who may suffer from a lack of identity, fit into these findings when personal identity is the number one reason why consumers engage in genealogy and legacy tourism? Whether a group is well defined (e.g., descended from Norwegian ancestors) or not well defined, results are remarkably similar.
Agile Manufacturing: A Border Perspective
Authors: Beck Allan
Published: March 2016

Manufacturing along the United States-Mexico border was built on the low-cost and low-technology model of early maquiladora plants, which offered cheap alternatives to the U.S. labor rates and an alternative to labor-intensive assembly and attractive tax benefits. Forty years later, other areas of the world are offering a lower cost alternative to the same targeted manufacturing organization. The alternative choices are often a lower-cost option, making the United States-Mexico border region an option that gets left out of the equation. A review of the literature and an investigation of attractive features of the border region suggest a different approach that highlights the advantages of a proximity-based model interspersed with the components of agile manufacturing.
The Evolving Efficiency Of The South African Stock Exchange
Authors: Bonga-Bonga Lumengo
Published: March 2016

This paper tests the weak-form efficiency in the South African stock exchange - the Johannesburg Securities Exchange (JSE) - under the hypothesis that emerging markets efficiency evolves through time as these markets constantly enhance their regulatory environment. The paper makes use of the time varying GARCH model in testing this hypothesis. In addition, the paper compares the out-of-sample forecast performance of the time varying and fixed parameter GARCH models in predicting stock returns in the JSE making use of MSE-F statistics for nested models proposed (McCracken, 1999). The findings of the paper show that the two models provide the same conclusion in showing that the JSE has been efficient during the period of the analysis. In addition, the time varying model outperforms the fixed coefficient model in predicting the JSE stock returns. This finding indicates that the time-varying parameter model adds a benefit in testing the weak-form efficiency or modelling stock return in the JSE.
Accounting, Culture And Emerging Economies: IFRS In Central And Eastern Europe
Authors: Borker David R.
Published: March 2016

The work of Geert Hofstede and S.J. Gray has provided a framework for many studies of the potential impact of cultural values on accounting in various countries. This paper provides a comparative analysis of accounting perspectives in Central and Eastern European countries (CEEC). The CEEC are former communist states in Europe which became independent countries after the collapse of the Iron Curtain. Twelve CEEC were selected for study: Bulgaria, Croatia, Czech Republic, Estonia, Hungary, Latvia, Lithuania, Poland, Romania, Serbia, Slovakia and Slovenia. Each is examined for Hofstedes six cultural dimensions and a corresponding accounting profile is derived based on Grays accounting values. Profiles for each country are compared to an independent IFRS favorable profile proposed by the author as part of a broader analysis of cultural patterns, among other factors, for successful IFRS implementation.
Critical Challenges Of The South African School System
Authors: Mouton Nelda , Louw G.P. , Strydom G.
Published: March 2016

The emphasis in the new curriculum after 1996 in South Africa was placed on the transition from the traditional aims and objectives approach to Outcomes-based education (OBE) and Curriculum 2005. This paradigm shift was interpreted as a prerequisite for achievement of the vision of an internationally competitive country. When analysing the school system in South Africa it became clear that the education system was flawed, with poorly performing teachers, poor work ethics, lack of community and parental support, poor control by education authorities, poor support for teachers and very low levels of accountability. These factors further spilled over into the morale of learners and could be seen in the lack of discipline, brutal violence in schools, low moral values, truancy, absenteeism, late coming and high dropout rates from Grade 1 to Grade 12 and very poor performance in essential areas such as Mathematics and Literacy. Citizens in historically disadvantaged areas tend to become victims of poverty, gangs and drug abuse. These factors further blend with the evil of politics in South African schools which are furthermore plagued by various forms of corruption and socio-economic challenges. Eighteen years after the end of the apartheid dispensation, apartheid is still blamed by many for any real or imagined ills in society, but the reality is that there is no political will to enforce the law or to meet public expectations of accountability, efficiency and delivery. In the light hereof, recommendations are proposed that will address these challenges. The critical message of this article will convey that the fact of the matter is that learner enrolment is not the same as attendance and attendance does not imply learning. Therefore, teaching in South Africa must become a profession of preference and pride as opposed to the present very lackadaisical attitude.
The Impact Of Industry Classification On The Valuation Accuracy Of Multiples In The South African Capital Market
Authors: Nel WS , Bruwer BW , Le Roux NJ
Published: March 2016

Although multiples are used extensively in practice, empirical guidance in emerging markets is limited in this regard. In terms of valuation accuracy, the impact of peer group selection by way of industry classification in emerging markets has not yet been substantiated by research. This paper investigates the valuation performance of multiples over various industry classifications when valuing the equity of South African companies listed on the Johannesburg Stock Exchange for the period 2001 to 2010. The empirical results revealed that peer group selection based on a narrower industry classification could, on average, increase valuation accuracy by as much as 19.60%.
Comparison Of Fisheries Sectors Of Japan And Turkey In Production And Trade Opportunities
Authors: Guzel Mahmut Munir , Kameda Kazuhiko , Yamamoto Naotoshi
Published: March 2016

This study clarifies the changes in the trade of fish-related commodities (FRC) between Turkey and Japan, and discusses the outlook of such trade. Turkeys ability to adapt to the international food-safety standards enabled it to export primary commodities to the region. Turkey can draw from its EU experience when exporting primary products to Japan. Fisheries trade between Turkey and Japan has increased significantly in the past decade, from just over US$12 million (2,404 tons) in 2000 to more than US$49 million (3,653 tons) in 2011. From our interviews, we found that (1) there are significant fish-related trade opportunities between the two countries; (2) addressing the lack of knowledge or factual information in general is the most important task for increasing such fisheries trade; and (3) communication initiatives such as advertising, exhibitions, and field trips are necessary to increase the countries basic understanding of each others fisheries sector. In conclusion, detecting and capitalizing on new potential (FRC) (e.g., Atlantic bonito, Pacific saury, and sardine) in accordance with the preference of the market could be a new strategy that would promote further development of trade between the two countries.
The Role of Remittances on Economic Growth: An Empirical Investigation Of 12 CEE Countries
Authors: Gjini Altin
Published: March 2016

This study investigates the role of remittances on economic growth in Central and Eastern European (CEE) countries. The main concern of CEE countries after the collapse of Communism has been to develop strategies for increasing their standard of living to the level of Western countries. Economic growth experienced after 1991 has been impressive for these countries. Factors that have influenced economic growth in developing countries vary from capital investment, to labor surplus, technological change, trade, foreign aid, foreign direct investment, research and development, and institutional factors. This papers main objective is to examine the impact of remittances on economic growth in 12 CEE developing countries[1] using balanced panel data covering the period from 1996?2010. We do this by using a fixed-effects model with heteroscedasticity corrected standard errors. We find that remittances have had negative effects on growth in this area for the period analyzed. Thus, an increase in remittances by 10% decreases the output by about 0.9%. [1] Albania, Bulgaria, Croatia, Czech Republic, Hungary, Latvia, Lithuania, Macedonia, Poland, Romania, Slovakia, and Slovenia.
Trust And Trustworthiness: A Game Theory Transcontinental Experiment
Authors: Pech Wesley , Swicegood Philip
Published: March 2016

This article reports the results of a laboratory experiment that investigated differences in trust and trustworthiness between Americans and Croatians. Contrary to the majority of previous cross-cultural studies, this experiment implemented a design that allowed participants to simultaneously interact with subjects from the other country. Additionally, it analyzed changes in their levels of trust and trustworthiness when information about the nationality of a subjects counterpart was not revealed. The main findings are: 1) Overall, Croatians trusted more than Americans did, but Americans were more trustworthy, 2) Subjects from both nationalities trusted less when they knew they were paired with somebody from another country, compared to when they interacted with someone from the same country, 3) Croatians also became less trustworthy when they were paired with an American, but Americans became more trustworthy when they were paired with a Croatian, and 4) Uncertainty about the nationality of ones counterpart reduced both trust and trustworthiness for both nationalities, a result that suggests that, overall, not knowing the nationality of one person caused the subjects to behave as if this person was of a different nationality.
Foreign Direct Investment: A Journey To Economic Growth In Ghana - Empirical Evidence
Authors: Owusu-Antwi George , Antwi James , Poku Peter K.
Published: March 2016

Foreign Direct Investment (FDI) has been viewed as a major stimulus to economic growth in developing countries. Its ability to deal with two major obstacles; namely, shortages of financial resources and technology and skills, has made it the center of attention for policymakers in low-income countries in particular. In spite of the significance generated by FDI flows, the flow to developing countries and the world, in general, has witnessed persistent decline over the years. The implication for the drop means that competition to attract FDI has increased as developing countries continue to create the enabling environment to attract foreign investors. Ghana, in particular, has, over the last decade, pursued various forms of economic reforms and liberalization of trade regimes in order to become more competitive in the international financial market. A handful of papers has recently dealt with FDI flows in Ghana. However, most of these studies are concerned with strategic FDI policy to attract FDI flows. The purpose of this study is to empirically determine the factors that influence FDI flows in Ghana, using time series data from 1988 to 2011. Regression analysis was carried out using relevant econometric techniques. The results of the study capture trade openness, exchange rate, natural resources, and infrastructure as the drivers of FDI in Ghana. Macroeconomic variables, such as inflation and per capita gross domestic products, were also registered to impact the determinants of FDI flows in Ghana. The contribution of this paper is that economic liberalization was found to be significant, indicating that policymakers' efforts in liberalizing the economic activities may necessarily translate into significant FDI inflows into the country.
Self-Employed Graduate Entrepreneurs And Management Of Small And Medium Enterprises (SMEs) In Lagos State, Nigeria
Authors: Shonubi Ololade Kazeem , Taiwo Saheeb Oluwafemi
Published: March 2016

This paper examines what enables self-employed entrepreneurial graduates to successfully manage their businesses despite that they never had formal education in any management course(s) but thrive within an environment full of unforeseen uncertainties, such as lack of business incentives, unfavorable government policies, inadequate infrastructures in Nigeria, to mention but a few. In adopting Okalas in-built myths of entrepreneurs, the quantitative approach of research was utilized with a cluster sampling technique to select 427 small and medium scale entrepreneurs in Lagos State, Nigeria. The chi-square method of data analysis used as a method of data analysis indicates that in-born traits, risk-taking and entrepreneurial learning contribute to SME success. Herron and Robinsons (1993) theory was adapted to explain what makes entrepreneurs succeed. It was recommended that to be successful as managers, every unsuccessful SME manager should look inward and attempt to discover some in-born management characteristics that lie within them to be a successful manager.
Is The Euro A Harbinger Of A World Currency?
Authors: Horton William , Leavell Hadley , Maniam Balasundram
Published: March 2016

This paper speculated on the possibility or potential of a worldwide movement toward a single global currency using a study of the economic impact on the European Union (EU) of its single currency. Using the timeframe of the single currency adoption, three main factors of the EU were analyzed:1) the cost of living (inflation), 2) deficit spending, and 3) unemployment. It was hypothesized, for the sake of this study, that the effects on these three items would be roughly the same for the implementation of a single global currency. This assumption is based on the fact that the euro adoption was performed by countries whose economies and policies were not synchronized across-the-board in spite of the intention of the detailed treaty that foreshadowed the euro. A selective look at diverse literature perspectives touting both the achievements and downfalls of the euro adoption and implementation, news commentaries predicting the possibilities of further currency unification, and a brief history of currency, in general, was made. The finding of this study indicated that the euro did not appear to have a strong economic impact on its member countries based on the three criteria. That, coupled with the diversity of the worlds nations in categories ranging from political to technical to financial, lead to the conclusion that a single world currency in the foreseeable future is unlikely.
Establishing The Challenges Affecting South African SMEs
Authors: Cant Michael C. , Wiid Johannes A.
Published: March 2016

Cant andLigthelm (2003) estimate that 70-80 percent of SMEs fail. A number of elements and challenges have beenidentified as contributing factors to the high failure rate of SMEs in SouthAfrica. The research investigates theextent to which the identified variables affect South African SMEs. The objective of this paper is to determine towhat extent SMEs experience selected challenges or issues that negativelyinfluence the success of the business. Challengesand issues include exogenous macro environmental variables and endogenousenvironmental variables, namely marketing. A questionnaire was constructed and judgementsampling was used to gather the responses of 81 SMEs. The research identified inflation and interestrates, crime and unemployment, low demand for products, the wrong pricing strategiesimplemented and the location of the business to be the major problemsexperienced by SMEs. The challenge nowis to improve the skills and capabilities of SMEs to ensure their success asthey play a vital role in the South African economy.
Accounting And Cultural Values: IFRS In 3G Economies
Authors: Borker David R.
Published: March 2016

The 3G countriesrepresent the most recent attempt to identify a set of world economies thatwill exhibit the greatest growth by the middle of this century (Buiter andRahbari, 2011). They are classified by aGlobal Growth Generator, or 3G index, based on six specific growthdrivers. Of the eleven 3G countries identified,India and China have received the most significant attention previously, asmembers of the so-called BRIC countries.The remaining countries consist of Bangladesh, Egypt, Indonesia, Iraq,Mongolia, Nigeria, Philippines, Sri Lanka, and Vietnam. This paper aims toshed light on the cultural/business mindset of managers in these countries, usingsurvey data and concepts of two internationally oriented scholars, GeertHofstede (1988) and S. J. Gray (1980). Their combined work has provided arobust framework for studies of the potential impact of cultural values onmanagement and accounting. In a previous paper, we examined the culturalcharacteristics of each 3G based on the Hofstede six cultural dimensions todetermine the unique and shared value characteristics of the 3Gs that mayaffect economic growth.(Borker, 2013a) Here, an accounting profile is developed foreach 3G based on cultural accounting values derived by Gray from Hofstedesdimensions. Profiles are created andcompared to one another, and to a proposed independent IFRS favorable profile (Borker, 2013b),as part of ananalysis of cultural and other factors that may affect the long-term success ofIFRS in the 3Gs. The impact of these profiles on several growth factors is alsodiscussed.
Transformational Leader Self-Perception And Objective Sales Performance: The Potential Moderating Effects Of Behavioral Coping Ability
Authors: Humphreys John H. , Zettel Molly C.
Published: March 2016

This research reports results from an exploratory study that examined the relationship between salespersons self-perceived leadership styles, behavioral and emotional coping abilities, and objective sales performance. The direct sales staff of a financial services firm provided the data for the study. The self-rater version of the Multifactor Leadership Questionnaire (MLQ 5X, short form) was used to capture the sales personnels self-perceptions of their leadership styles with respect to transformational and transactional leadership. Two main scales from the Constructive Thinking Inventory (CTI) were used to assess the behavioral and emotional coping abilities of the participants. Data analyses indicated a significant relationship between active transactional leader self-perception, transformational leader self-perception, behavioral coping ability, and sales performance. This was not the case for passive transactional leadership or emotional coping ability. In addition, behavioral coping ability moderated the relationship between transformational self-perception and sales performance such that those sales personnel who perceived themselves as transformational delivered enhanced performance when behavioral coping ability was good rather than poor.
Cross-Cultural Consumer Attitudes: A Case Of The Second-Hand Clothing Market In Armenia
Authors: Newton Judy G. , Scannell Nancy J. , Ohanian Rubina
Published: March 2016

Under the auspices of the Center for Business Research and Development (CBRD) at the American University of Armenia, and with contributions from assistants: Lusine Poghosyan; Armen Ginosyan; Christina Dombayan; and David Janibekyan, the authors of this article consider the issue of consumer attitudes in Armenia with respect to second-hand clothing. Results of an informal public poll in Yerevan, the countrys capital, and a rendering of an historical perspective on Armenias economy provide a backdrop for discourse on what appears to be a slight shift of consumer attitude away from a relatively negative bias against the purchase of second-hand clothing when compared to that evidenced broadly in the United States.
Does School Matter? An Empirical Analysis Of CEO Education, Compensation, And Firm Performance
Authors: Jalbert Terrance , Rao Ramesh , Jalbert Mercedes
Published: March 2016

In this paper the educational background of the Chief Executive Officers (CEOs) of Large U.S. Firms are examined. Specifically, the educational background of CEOs from large U.S. firms, as identified in the Forbes 800 Compensation List, are examined. Information concerning the number of Chief Executive Officers that received their undergraduate and graduate degrees from 463 institutes of higher education are compiled. We find that most CEOs have an undergraduate degree, while about half possess a graduate degree. The results indicate that there are preferred educational backgrounds for selection as the CEO of a major corporation. We also examine how the educational background of the CEO is related to the CEOs total compensation. The evidence indicates that those CEOs that do not have a degree earn significantly more than those CEOs that do have a college degree. We find little evidence that the school attended affects the compensation that the CEO receives. Finally, we examine firm ROA and Tobins Q based on the educational background of the CEO. We find an association between possession of a degree as well as where the degree was earned and the ROA and Tobins Q of the firm.
Occupational Stress And Job Satisfaction In White- And Blue-Collar Workers
Authors: Nydegger Rudy
Published: March 2016

The relationship between job satisfaction and stress has been examined in numerous settings. In the present study, a two-part occupational stress survey was given to140 subjects in white- and blue-collar occupations. Twelve possible stressor variables divided into three levels of stress: independent; group; and organizational were analyzed. A factorial ANOVA analysis was conducted, and revealed that there was a significant main effect result for types of stress experienced by the workers in the two types of organizations, but there were no differences between the organizations in terms of amount or types of stress, nor were there any differences between male and female employees. The relationship between stress and job satisfaction was discussed, and suggestions were made as to ways organizations can improve job satisfaction by paying attention to some of the sources of stress.
Evidence Of Method Effects In Budget-Related Behavior Research
Authors: Seaman Alfred E. , Williams John J.
Published: March 2016

Research has revealed numerous budget-related behavior (BRB) dimensions that describe managers actions and interactions with their budgetary control systems. This research has been conducted using a survey questionnaire methodology. However, those responding to the questionnaires may do so on a basis other than the specific item content. This paper uses a structural equation approach to investigate systematic response bias in BRB survey type research. Data from Singaporean companies is used to test for the presence of response bias and results confirm this expectation. The implication is that future studies in this context should investigate the structure and potential impact of response bias.