bluuebunny/crossref_metadata_2025 huggingface dataset:
The Importance Of Performance Management Tools Usage For Surviving The Economic Crisis
Authors: Peljhan Darja , Kejzar Katja Zajc , Ponikvar Nina
Published: March 2016

The main objective of our research is to explore how using performance management (PM) tools impact the exit hazard of firms by considering a sample of Slovenian firms during the recent economic crisis. The paper finds that, when firm and industry characteristics are not accounted for, the firms that used PM tools in 2007 experienced around a 6 percentage points lower hazard of shutting down during the current economic crisis. Further, our study supports the view that firm size and age are more important determinants of a firms survival probability than the influence of using PM tools (and other firm characteristics) due to a strong and significant correlation between the use of PM tools and firm size and age.
Primary Sector Evolution: 1999-2009
Authors: Andres Martinez Ma Encarnación , Navarro Jose Luis Alfaro
Published: March 2016

nalysing the current situation of agriculture is very important because the economy in a lot of regions is based on this sector. For this reason, the present scenario in many regions mirrors that of agriculture. Farms and their structural evolution over the last decade allow us to see the effects of factors such as the economic crisis and the changes in Common Agrarian Policy (CAP) on this sector and the economies of some regions.In this sense, European countries compiled agrarian censuses in 2009 and 2010 to comply with the legal regulations established by the European Council in order to obtain a framework or directory of farms that could serve to carry out sampling designs for sectorial agricultural surveys. These censuses have been elaborated in Spain since 1982 and are the main source of primary sector information.Thus, in this paper we have used the agrarian census data from 2009 to analyse the current situation of farms. In addition, information from the 1999 agrarian census has been used to ascertain the main changes that have taken place in these farms during this decade. This analysis has made it possible to determine the main effects that the worldwide economic crisis has had on farm structure and, therefore, on the hard-hit agrarian economy.
South Africas Macroeconomic Performance Before And After The Apartheid
Authors: Mavrokordatos Pete Mavrokordatos , Stascinsky Stan , Michael Andrew
Published: March 2016

South Africa and its political and economic conditions have been a topic of discussion for years. This paper presents data on South Africas macroeconomic indicators since 1970. Although in certain aspects South Africas economy has improved since the official end to apartheid, there is still much room for improvement with respect to employment, poverty, health conditions, international trade and price stability.
Consistent Conjectural Variations Equilibrium In A Bilevel Human Migration Model
Authors: Kalashnikov Vyacheslav V. , Kalashnykova Nataliya I. , Alcorta Garcia M. Aracelia , Acosta Sanchez Yazmin G. , Kalashnikov Vitaly V.
Published: March 2016

In this paper, we develop a bi-level human migration model using the concept of conjectural variations equilibrium (CVE). In contrast to previous works, here we construct a bi-level programming model. The upper level agents are municipalities of competing locations, whose strategies are investments into infrastructures of the locations (cities, towns, etc.). These investments aim at making the locations more attractive for both the residents and potential migrants from other locations. At the lower level of the model, the present residents (grouped into professional communities) are also considered as potential migrants to other locations. They make their decision where to migrate (if at all) comparing the expected values of the utility functions of the destinations and original locations, which are estimated by taking into account their group's conjectures concerning equilibrium migration flows between the involved locations. Applying a special technique to verify the consistency of the conjectures (influence coefficients), the existence and uniqueness results for the consistent conjectural variations equilibrium (CCVE) are established.
Environmental Proactivity In Manufacturing Industries: Is It Valuable?
Authors: Carrascosa-Lopez Conrado , Segarra-Ona María-del-Val , Peiro-Signes Angel , Segura-García-del-Río Baldomero
Published: March 2016

The purpose of this paper is to study the concept of environmental proactivity and its application to manufacturing industries. The literature on environmental proactivity and its application to different types of industries is reviewed. This paper examines the latest trends in the field and verifies their practical applicability and usefulness for companies. Increasing companies competitiveness is key to their survival; interestingly, environmental proactivity can improve companies productivity, and hence their competitiveness. The concept of environmental proactivity is often viewed with suspicion by manufacturing firms; in this work, a positive view of the concept of environmental proactivity is presented. This paper includes case studies of the application of environmental proactivity to three industrial sectors as well as a quantitative study to verify the results. The papers conclusion is that the adoption of a proactive environmental approach provides benefits to companies in terms of image enhancement, cost savings, and new business opportunities, all of which contribute to the sustainable growth of companies.
MNC Flexibility And Post-Entry Mode Change: The Role Of Learning Ownership Regulations Through Network Embeddedness
Authors: Ye Hua
Published: March 2016

This paper proposed a theoretical framework that has linked together network embeddedness, learning ownership regulations, MNC flexibility, and post-entry mode change. Network embeddedness refers to the MNC subsidiarys relations with and reliance on the networks for learning ownership regulations. Learning ownership regulations refers to acquiring, interpreting or confirming ownership regulations of foreign investment in China. MNC flexibility is defined in this paper as the MNCs (Multinational Corporations) ability to manage the risks and exploit the opportunities that arise from changing ownership regulations of foreign investment in China. Post-entry mode change is specified as the MNC subsidiary in China has been changed to wholly foreign-owned enterprise after initial entry as joint venture, including Chinese-foreign Cooperative Enterprise, Chinese-foreign JV and International JV. Japanese subsidiaries in China were studied, specifically three wholly foreign-owned enterprises in Shanghai. The case studies showed that network embeddedness contributes to learning ownership regulations, which in turn promotes MNC flexibility, which in turn facilitates post-entry mode change. In addition, MNC flexibility promoted by learning ownership regulations through network embeddedness can facilitate not only the change from joint venture to wholly foreign-owned enterprise, but also keeping as joint venture.
An Evaluation Of The Prospects For The Euro Currency In 2012-2013
Authors: Christner Ron
Published: March 2016

The 2008 global Financial Crisis and the subsequent relative collapse of the financial and economic markets, including the government bond markets, in Greece, Ireland, and Portugal as well as economic weakness in other Western European economies have called into question the viability, going forward, of the Euro Currency. The so called PIIGS countries of Portugal, Ireland, Italy, Greece, and Spain are thought to be financially vulnerable because of high levels of government spending and resulting deficit levels and inefficient labor markets and tax collection policies among other factors. Those five countries, along with the stronger economies of France and Germany, comprise 7 of the 17 countries in the Eurocurrency Union. Any weakness in the 5 country group can have a contagion effect on the rest and if the recent financial bailouts by the IMF and the European Central Bank in Greece, Portugal and Ireland are not effective then there is a real danger that one of more of the GIP (Greece, Ireland and Spain) countries may have to abandon or be forced to abandon the Euro. Because there is no provision for a country leaving the Eurocurrency Union this is uncharted territory and could lead to the weakening or even demise of the Euro depending upon circumstances. The fact that there are also significant financial linkages and related default risk connecting the five countries to the sounder economies of Germany and France increases the risks. This paper will evaluate the likelihood that the Eurocurrency will be substantially weakened or abandoned over the next 18 months. The evaluation will be highly dependent upon the forecasts for the 5 countries economic prospects, especially the very large economies of Italy and Spain as well as the likely responses of Germany and France to future default like events in the five countries. Metrics utilized will include the trend in economic indicators like long term government bond yields, deficit spending, tax collections, economic growth, and financial linkages and dependence among the seven countries. European Central Bank data and information from related sources like the IMF will be utilized.
Hedging Energy Revenues With Quantity-Triggered Puts
Authors: Ning Zi Nancy , Tucker Alan L.
Published: March 2016

This paper offers a low-cost alternative for hedging energy producers revenues. The hedging instrument exploits the less than perfectly positive correlation between energy output, or usage demand, and revenue. We provide a valuation formula for the instrument and demonstrate its ability to more effectively minimize a producers value-at-risk when output uncertainty prevails.
A Proposal For The Securitization Of SMEs Receivables And/Or Cash Flows By Combined Financing
Authors: Gonzalez Narro Jose Luis
Published: March 2016

The expression credit is the name of the game is becoming more relevant as financing credit sales is increasingly becoming a challenge for small and medium-sized enterprises (SMEs) in Mexico. The securitization of receivables, also called monetization, helps to address the challenges of obtaining cash to finance new receivables. SMEs have to be able to offer credit and the securitizations allow them to do this by using the receivables they already have to obtain more cash to help them finance new sales.This paper presents the literature that supports this proposition, as well as a model that allows for the restructuring of revolving and non-revolving financing tools for SMEs. The proposed model enables multiple SMEs to combine their receivables into one master trust and use their collective receivables as collateral for loans.During an exhaustive literature review, theories and isolated arguments were found that support this proposal. The proposal intends to generate an all-round win-win scheme through which 1) the SMEs can obtain financing at a reasonable cost, 2) the investors can gain the opportunity to diversify their portfolios, and 3) the Mexican government can gain the opportunity to channel support to productive initiatives in the country.On a theoretical level, the results of the proposed solution could make an innovative contribution to the cognitive area of structured finance. Further, the possibility of combining the securitizations of many different SMEs to finance new receivables with their actual receivables could be valuable for the development of companies on a practical level.
Visual Merchandising Displays Effect On Consumers: A Valuable Asset Or An Unnecessary Burden For Apparel Retailers
Authors: Hefer Yolande , Cant Michael. C.
Published: March 2016

Several consumers think they only purchase products when they go shopping, however time and time again they purchase the experience of shopping as well. The experience of shopping is highly influenced by the visual merchandising displays (also known as feature areas where merchandise is presented) used in store. Much has been said about visual merchandising displays and the effect it has on consumer behaviour. The way products are displayed and promoted in apparel retail stores can have a vast impact on consumer responses and how much merchandise the retailer sells. The main research question explored the effect visual merchandising displays have on consumer behaviour. Explorative research was deemed to be the most appropriate for this study and qualitative data was collected. Focus groups were used to collect the first round of data, where after nae sketches were used to support the findings. The focus groups and nae sketches were analysed by means of thematic analysis. The findings indicated that the visual merchandising displays guide consumers in the direction of the products they are seeking and that it also guides their decisions. The participants agreed that their buying behaviour is influenced on a subconscious level, based on the eminence of the visual merchandising displays, as well as their personal preferences and gender.
Groupons Growth And Globalization Strategy: Structural And Technological Implications Of International Markets
Authors: Hughes Suzaan , Breytenbach Chantal
Published: March 2016

Groupon is the fastest growing company in the daily deal social e-commerce arena. For this reason, their growth and globalization strategy is of particular interest to any researcher or investor interested in understanding this industry and its potential future growth and development. In this first follow-up article on mergers and acquisitions as Groupons primary growth and globalization strategy, the researchers discuss the structural and technological implications of expanding into developing international markets. The research method utilized in this article was a case study. In a previous article, the researchers evaluated Groupons success in utilizing M&As as its growth and globalization strategy, by applying Ruess and Voelpels (2012) Post Merger Integration (PMI) Scorecard. The factors discussed under the PMI Scorecard included strategic, structural, personnel, cultural and stakeholder integration. In this article, the researchers take an in-depth look at structural and technological implications of acquisitions made by Groupon in developing international markets.A well-developed transport and communications infrastructure network is a pre-requisite for the access of less-developed communities to core economic activities and services (Schwab, Sala-i-Martin & Greenhill, 2011). Effective economies therefore depend on sufficient and uninterrupted electricity supply that would enable unimpeded business functioning. The ability to adopt existing technologies, specifically information and communication technologies (ICTs) is indicative of a countrys level of technological readiness. In countries with limited access to the Internet, mobile broadband, smartphones and social media (like Facebook), Groupon has not managed to build an extensive database of customers. Although they may have reached a particular level of customer saturation in the USA, it cannot be argued that they have succeeded in building the same extensive network of customers in other markets, which calls into question the spending on acquisitions in other markets in order to expand their global reach.
Fear Abounds In The Educational Environment: Teachers Professional Competencies In The Management Of Knowledge
Authors: Singh Prakash
Published: March 2016

The introduction of the outcomes-based education (OBE) approach in South Africanschools over a decade ago led to a discrepancy between the teachers knowledgeof the traditional curriculum and the curriculum based on OBE principles. Adoption of the OBE approach was not an easypassage for most teachers to manage knowledge in education in South Africa.Lack of resources and inadequate professional development and training were -and still are - one of the major challenges facing teachers in transforming theeducational system. Not having the capacity to usher in the changes at the classroomlevel has led to untold levels of anxiety, stress and tension within theteaching community. These developments contributed to the existence of a phobiain the educational environment; namely, Tobephobia (TBP). In this paper, TBPalludes to the fear of failure experienced by teachers to achieve plannededucational outcomes. Therefore, this exploratory research examined thequestion, What is the impact of TBP and OBE on teachers? A survey wasconducted amongst 311 teachers in Port Elizabeth and Durban, South Africa. The resultsconfirm the very negative impact of TBP and OBE on teachers. Associated withthis finding are the high levels of anxiety, stress, and the fear of theoutcomes in education experienced by these teachers. In dealing with TBP, it isof vital importance that teachers become aware of their fears, identify theirways in which they express fear, recognise the situations that trigger fear anduse appropriate strategies to reduce fear and stress in their lives.
Enhancing Students Learning Through Practical Knowledge Taught By Industry Professionals
Authors: Rajaratnam Kanshukan , Campbell Anita
Published: March 2016

A topic of interest in teaching businesscourses is incorporating the practical aspect of the subject matter intoteaching as this helps to bridge theory and real-world practice. Research indicates that students gain a deeperunderstanding of material when theory is contextualized through real-lifepractical examples. However, given thetraditional career-path of academics in finance in countries such as SouthAfrica, a significant proportion of finance lecturers have little or norelevant practical experience in the subject matter. In this paper, we discuss a strategyimplemented in finance courses at sophomore and senior levels in order to linktheory and practice. Guest speakers were invited from industry to contextualize the topics for the students. Students perceptions on the benefit they derived from the speakers were deduced from statistical analyses of student evaluations. The results indicate that the experience waspositive and aided in their understanding of the subject.
Mexico's Drug War Is Hindering The Growth Of The Retail Sector Of Texas Border Cities
Authors: Martinez Rutilio
Published: March 2016

Between the first quarter of 2007 and the first quarter of 2012, the retail sales of Texas' border cities grew at an unprecedented low quarterly rate of 0.21%. Mexico's drug war contributed significantly to this low growth by hindering the growth of sales to Mexicans who cross the border to shop. This hindrance is likely to continue as long as Mexico's war on drugs continues to generate high levels of violent crime in the northern part of the country.
Intervention Of Transformational Collegial Leadership To Develop Human Resources
Authors: Singh Prakash
Published: March 2016

Transformational collegial leadership (TCL) is a collective action generated by transforming leadership which empowers all individuals who participate in this process, whether it is in business or education, or in any other organization. TCL is a leadership style that facilitates the redefinition of a people's mission and vision, a renewal of their commitment, and the restructuring of their systems for goal accomplishment. Recent research is strongly supportive of collegiality as a key factor in transforming traditional bureaucratic management practices in organizations. Far-reaching organizational and structural changes are required to address the severe imbalances in the provision and strong bureaucratic controls in many organizations at all levels. Transformation involves every aspect of life, and education is no exception. Hence, this qualitative study investigated the impact of TCL on developing human resources in two primary schools which were purposively selected to participate in this study. Primary school leaders, from a transformational perspective, view employees as potential leaders, with the focus being to enable leaders to act through fostering collaboration and strengthening employees. This involves competencies such as the effective use of power, developing human resources and the ability to cope, and initiating change from both the leader and the employee. The collegial leader then becomes a catalyst for growth, through attention to structures, development opportunities for employees and in the expectations and the manner in which interaction with employees takes place. This study affirms that human resource development and TCL embrace the values of collaboration, confrontation, authenticity, trust, support and openness.
A Risk-Adjusted Performance Evaluation Of US And EU Hedge Funds And Associated Equity Markets Over The 2007-2009 Financial Crisis
Authors: Van Heerden Chris , Heymans Andre , Van Vuuren Gary , Brand Wilme
Published: March 2016

Hedge funds are considered to be market-neutral due to their unrestricted investment flexibility and more efficient market timing abilities (Ennis & Sebastian, 2003). They may also be considered as suitably unconventional assets for improving portfolio diversification (Lamm, 1999). The evidence from this study confirms the dominance of hedge funds over the CAC 40, DAX, S&P 500 and Dow Jones from 2004 to 2011. Overall, the Sharpe, Sortino, Omega, Jensens alpha, Treynor and Calmar ratios illustrate that US hedge funds outperformed both EU hedge funds and the associated equity markets over this period. Evidence was also found that both US and EU hedge funds were more correlated with the S&P 500 and Dow Jones after the financial crisis of 2007-2009 than before the crisis.
Foreign Ownership And Local Firms Capital Labor Ratio: Case Of Abu Dhabi
Authors: Parcero Osiris , Osman Abahindy Abdul-Aziz , Rashid Faizi Abdul , Kamalsada Ahmad
Published: March 2016

This paper examines the impact of foreign ownership on local firms capital deepness in the resource-rich economy of Abu Dhabi. The authors use a novel dataset of more than 15,000 local firms registered in the Emirate of Abu Dhabi.Empirical evidence shows a positive effect of foreign ownership on the capital labor ratio for the local firms, which is typically channeled through technology and knowledge transfer to the local firms. The results also show that the capital labor ratio of a firm is positively associated to the firm involvement in international trade. Overall, the evidence supports the fact that the economy of Abu Dhabi may benefit from foreign ownership and the openness to trade.
Examining The Employment Intensity Of Economic Growth Of The PIIGS
Authors: Seyfried William
Published: March 2016

At the beginning of the second decade of the 21st century, several countries in the periphery of Europe began suffering from sovereign debt crises, resulting from and contributing to economic weakness. As of late 2013, each country was struggling with double-digit unemployment rates with rates in Greece and Spain near 27%. Though economic weakness was responsible for falling employment, the linkage between economic growth and employment, known as the employment intensity of economic growth (also called employment elasticity), may differ between nations. Estimation of models developed reveal different dynamics in the respective countries. Regardless of the model employed, the results revealed a very high employment intensity of economic growth in Spain relative to the other nations, indicating that employment was highly sensitive to changes in economic growth. As such, an equivalent decline in GDP had a much larger impact on employment in Spain than the other PIIGS. There is evidence that the structure of the labor market may play some role in explaining different employment elasticities for the countries in question. In particular, the degree of unionization appeared to be negatively correlated with employment intensity (economic growth had a smaller impact on employment in nations that have a larger percentage of unions) while the portion of workers on temporary contracts was positively correlated with employment intensity; countries with a larger percentage of workers on temporary contracts, such as Spain, had a higher employment intensity as employment responded more to changes in economic growth.
Leaderships Role In Effective Implementation Of School Discipline Policies
Authors: Van Wyk C. , Pelser A. M.
Published: March 2016

Discipline is an important aspect of the life of any school. Learning and teaching can only take place effectively in a disciplined environment. In South Africa, discipline policies might not have been effectively implemented due to inadequate sources, lack of commitment and training of school leaders. A qualitative research design was utilized for the investigation on which this article is based. The research consisted of two phases. First, group interviews were conducted with 27 B Ed Honours students; thereafter, individual interviews were conducted with a total of six students selected by purposive sampling. The results seem to suggest that the broader school community should be taken on board to ensure effective discipline policy implementation. The correct legal sources should furthermore be employed in the process of developing school policies. School leaders need thorough training for the development and implementation of discipline policies. Several measures are suggested for the effective introduction of disciplinary policies, among others, that school leadership should play a (more) active role; specifically the principals of schools should be willing to share their knowledge on the implementation of school disciplinary policies with other members of the school leadership.
Client-Centricity In South African Retail Banking
Authors: Coetzee Johan
Published: March 2016

Client-centricity deals with addressing the needs of clients as they change. It requires contact-personnel who are empowered to not only identify client needs, but address them speedily. This study investigated the perceptions of client-centricity for 559 contact-personnel at three major South African retail banks in central South Africa. The results indicate that in general the contact personnel regard their respective banks as enforcing a client-centric strategy. They do however feel that the support from administrative personnel and the processes that support the sales environment are not always conducive to client-centric principles. This is a particular problem as contact-personnel are attuned to addressing the sales-related product and service offerings of clients as opposed to the process-related administrative burdens attached to the delivery of such products and services. The study also found that the job function of contact-personnel is the most important factor to consider when developing a client-centric strategy. Further to this, contact-personnel with the longest number of years of experience in a specific function are the best to use for management when determining whether or not specific tools to achieve client-centricity are effective. The major contribution of the study is that it focuses specifically on the perceptions of contact-personnel and thus provides additional knowledge of what the bank (through its client-facing staff) itself considers important with regards to client-centricity.
Governance, Budget Deficits And Financial Crisis: An Analysis Of Governments Role In The Liberian Banking Crisis
Authors: Gonpu George P.
Published: March 2016

The adverse macroeconomic consequences of financial crises have heightened research interests in their causes. However, little is known about the role of political influence as a cause of financial crises in small developing countries. This research explores the role of governance as one of the causes of failures in nine of Liberias twelve commercial banks during the financial crises during the period 1986 to 1999. In particular, this paper explores how the government used appointments primarily based on kinship to influence the banking sector and render the National Bank of Liberia ineffective in implementing its regulatory powers. The research found that regulatory standards, weakened by nepotism, led to corruption and mismanagement in the banking sector. In addition, through the governments political influence over the National Bank of Liberia, it was able to finance unsustainable fiscal deficits by borrowing from commercial banks and the National Bank of Liberia, culminating in severe financial crises.
A Review Of The Determinants Of Long Run Share Price And Operating Performance Of Initial Public Offerings On The Johannesburg Stock Exchange
Authors: Chipeta Chimwemwe , Jardine Adrian
Published: March 2016

This paper provides some new evidence on the determinants of long run operating and share price performance of Initial Public Offerings (IPO) on the Johannesburg Stock Exchange (JSE). It has been hypothesised that the information contained in the pre listing documents could shed some light on the aftermarket performance of South African IPO shares. In line with previous literature, South African IPO shares significantly underperformed the market on average. Additionally, there is a statistically significant negative relationship between IPO Volume and long run performance, suggesting that the South African IPO market may be subject to the fads and over optimism theory of Ritter (1991). The overoptimism hypothesis is further cemented by a negative correlation between pre IPO revenue forecast and aftermarket operating performance. Listing expenses play a moderate role in the reduction of the aftermarket performance of IPOs on the JSE. However, it appears that international investment banks have a positive influence on the aftermarket performance of IPOs on the JSE. Likewise, firms audited by the BIG 4 audit firms tend to perform well in terms of aftermarket buy and hold returns. Large firms at the time of listing tend to perform well and firms with high growth prospects at the time of listing generate a negative and significant return on their investment in total assets. Although the contingent liabilities disclosed in the prelisting reports negatively influence most of the measurers of aftermarket performance, the relationship is, by and large, insignificant.
Relevance Of A Leadership Development Programme To Develop The Leaders Work-Integrated Learning Competencies
Authors: Singh Prakash , Dali Christopher Malizo
Published: March 2016

Today, more than ever, leaders need to demonstrate appropriate work-integrated learning competencies (WILCs) to process and manage emotional dynamics intelligently in their work environment. The challenge is to develop these leaders WILCs that can enable them to understand the contextual environments and the power relationships among employees in their organization. This study, therefore, explored the extent to which WILCs, including their emotional intelligence, can be developed and employed in their organizations to enhance collegial leadership practices. Consequently, this study focused specifically on the adequacy of the Advanced Certificate in Education (ACE) school leadership (SL) programme as a leadership development programme (LDP) offered by a higher education institution (HEI) to develop the WILCs of school principals. The LDP is intended to provide the principals, as leaders, with the opportunity to develop a deeper holistic commitment to their studies in a working school situation. Ideally, the LDP would provide a basis upon which school principals acknowledge the complexity of learning across multiple epistemic sites, rather than from a reductionist view with university modules and schools as separate entities. To investigate this, the qualitative research approach was appropriately used in this study. The findings on the interpersonal WILCs revealed that the school principals acknowledged their awareness of their employees feelings, needs and concerns and were adept at inducing desirable responses in them. Evidently, the findings of this study have confirmed the need for leaders to have interpersonal WILCs that can empower them to succeed in creating the necessary collegial climate in their organisations.
Analysis Of Differences Between Financial Management In Family And Non-Family SMEs Of The Yucatec Textile Industry
Authors: Zapata Martha Isabel Bojorquez , Brito Antonio Emmanuel Perez , Basulto Triay Jorge Humberto
Published: March 2016

This papers objective is to analyze the main differences between financial management in family and non-family small and medium enterprises (SMEs) in the textile industry. It considers variables such as sales growth and implementation of management control systems (MCS) as strategic and sustainable factors of business competitiveness. In this regard, the paper uses agency theory (Fama, 1980), which identifies that family enterprises have fewer agency costs because ownership and management are held by family members, and contingency theory, which is based on the study of MCS and their related performance (Otley, 1980; Tiessen and Waterhouse, 1983; Chenhall, 2003). The results show that family SMEs have lower sales growth than non-family SMEs and that there is no direct relationship between the implementation of MCS and performance.
Effect Of Labour Flexibility On Productivity In The Andalusian Hotel Industry
Authors: Garcia-Pozo Alejandro , Marchante-Mera Andres , Sanchez-Ollero Jose Luis
Published: March 2016

The authors analyze the effect of labour flexibility on productivity in the Andalusian hotel industry. For this purpose, the authors use the results from the Quality, Productivity and Competitiveness in the Hospitality Industry for Andalusia project (PO7/SEJ-02889). The model used considers three employment shares - open-ended contracts, temporary contracts, and part-time contracts. However, it should be borne in mind that the Spanish model of labour flexibility has mainly focused on the use of temporary contracts rather than other human resource management practices, such as internal labour flexibility.
Pollution And Environmental Indicators Using A Multicriteria Analysis
Authors: Garcia-Centeno Maria-Carmen , Fernandez-Aviles Gema
Published: March 2016

Pollution and environmental factors are a core topic because they influence in air quality of the different areas of a city. This is why in this article we propose to apply a multicriteria decision aid method (the Promethee) to establish a ranking among twenty one districts of Madrid city. To develop this ranking we use objective and subjective criteria that contain information about pollution and environmental indicators in these districts. The results show that some districts are the worse and the best regardless the used criteria.
Relationship Between Job Satisfaction And Firms Death
Authors: Manzaneque Lizano Montserrat , Banegas Ochovo Regino , Priego de la Cruz Alba Maria
Published: March 2016

This paper verifies empirically the link between employee job satisfaction and the rate of failure, understood as cessation of activity. The authors examine a sample of nine industrial sectors during the period 2007-2010. The results show that job satisfaction reduces the failure rate in the business sector and they highlight the importance of employees attitudes regarding working conditions, especially in difficult economic and financial situations.
The Decision To Set Up Home Independently In Spain: Explanatory Factors
Authors: Ceballos-Santamaria Guillermo , Villanueva Alvaro Juan Jose
Published: March 2016

Young people today are leaving the parental home; i.e., living independently at increasingly later ages. In Mediterranean Europe in particular, most males, and a large portion of females, continue to live in their parents home until they are into their thirties.In the case of Spain, in recent years, a series of economic and social changes have led to a rise in young peoples uptake of non-compulsory stages of education, resulting in increasingly late arrival on the job market (with this extended education and also high youth unemployment), characterized by higher temporary employment rates and greater vulnerability in the process of joining the labor force than previous cohorts. As regards to living independently, despite a very large increase in housing stock over the past ten years, young Spaniards encounter increasing difficulties in gaining access to housing because of higher purchase prices and the structure of the rental market.This paper will study the socioeconomic factors that have influenced the young Spanish population when deciding to leave the family home (i.e., becoming autonomous).
Relationship Between Managerial Competencies Of Owners / Managers Of Emerging Technology Firms And Business Performance: A Conceptual Framework Of Internet Caf Performance In South Africa
Authors: Rambe Patient , Makhalemele Naledi
Published: March 2016

Despite the growing literature on the impact of entrepreneurial traits of managers/owners on the performance of small firms in developed economies, little is known about the contribution of managerial competencies (MC) of these managers/owners to the success of their firms. Since entrepreneurial literature attributes the failure of most emerging businesses (i.e. in their first three years of existence) to the paucity of MC among managers/owners of emerging businesses, an investigation into the effects of these competencies on the performance of small emerging internet businesses is critical to locating the strategic levers that potentially optimise the growth and sustainability of these businesses in emerging economies. This theoretical study, therefore, examines the relationship between managerial competencies of owners/ managers and the performance of emerging internet firms in South Africa. Extant literature and researchers reflective experiences were used to develop a conceptual model on the relationship between managerial competencies of managers/owners of small internet caf and the performance of their firms. The model suggests that an assortment of managerial competencies (human capital requirements, resources and individual capabilities) is critical to the improved performance of small internet businesses. The thesis of this paper is that understanding the appropriate constitution of managerial competencies ideal for emerging technology firms, organisational context of emerging technology firms including the broader business environment would positively impact small internet business performance.
The Wealth Effects Of Managerial Turnover: Implications For The Spanish Corporate Governance System
Authors: Mendez Carlos Fernandez
Published: March 2016

Managerial succession decisions constitute crucial events for the company, as they can generate important organizational changes that affect the shareholders wealth, and at the same time, entail important conflicts of interests between the managers and the shareholders. Our study of the market reactions to managerial turnover announcements in the Spanish market, reveal that these decisions have a positive effect on the shareholders wealth. These wealth effects are especially intense in the case of outsider successions and when the company preturnover performance has been poor. These findings suggest that managerial turnover is a restructuring decision that is most welcome under conditions of low performance. These results are reinforced by the existence of a negative relationship between the turnover wealth effects and the firm's preturnover performance. Our results also have implications regarding the effectiveness of the Spanish corporate governance system, suggesting that the Board's outsiders and the institutional shareholders play a major monitoring role in the managerial succession processes. The Board outsiders and the institutional shareholders influence the succession process protecting the shareholders interests against particular professional interests of the managers. We have also found evidences of the existence of entrenchment effects linked to managerial stock ownership. Finally, consistently with our event study results, we have found evidences of a positive effect of outside succession on the market's reaction to managerial turnover, in the case of a poor presuccession performance context. We have obtained no evidence about any effect from outside succession in good performing companies or inside succession in any company independently of its previous performance.
Debt Matters: The Firms Optimization Problem With Financial Distress
Authors: Gilpatric Scott M. , Butler Richard V.
Published: March 2016

We argue that firms in financial distress face real costs associated with financial restructuring, in addition to the agency costs identified elsewhere in the literature. Distress costs arise from the presence of debt in the firms financial structure. Because firms facing uncertain demand will act to minimize expected distress costs even when not near the point of defaulting on debts, the prospect of facing distress costs has implications for the optimization problem of every firm. Our model shows that distress costs have a nonlinear effect on the value function of the firm. This effect may make the firm risk averse or risk seeking, depending on the magnitude of expected distress costs, with very different implications for its output decisions. Our results bridge a gap between the emphasis of economists on risk aversion induced by financial distress and the view of legal scholars that financial distress induces risk-seeking behavior.
A Revisionist History Of Accounting: From The Origins Of Private Property To Venice In The Pacioli Era
Authors: Baskett James H.
Published: March 2016

This treatise takes a fresh (and somewhat contrarian) look at the long history of accounting lead-ing up to the time of Luca Pacioli, who has long been considered the father of accounting. It first examines the centuries immediately preceding the time at which Pacioli recorded the Venetian technique of double-entry bookkeeping, in order to reveal why the model appeared in Italy during the fifteenth century. It also addresses the manner in which Paciolis work misdirected accounting historians efforts as they have sought the origins of accounting. Secondly, this treatise looks at stimuli explaining probable origins of accounting in earliest sedentary human cultures, in order to separate origins of accounting activity from the origins of bookkeeping. It is posited not only that the dawn of the institution of private property was the sole requirement for the existence of accounting activity, but that many of the factors (including writing and formalized mathematical systems) often believed to be necessary prerequisites for accountancy are most likely consequences of, not prerequisites to, the accounting process. This treatise concentrates attention on accounting for privately-owned entities rather than governmental accounting issues, partly because Pacioli himself concentrated on that aspect of accounting, but most importantly because everything said herein regarding fundamentals of accountancy is equally valid, with appropriate modifications, for governmental and nonprofit entities.
Industry Environment And Business Strategy: A Comparison Of Contingency Theory Expectations And Relationships Between Small Manufacturing Firm Managers Perceptions Of Environment And Strategy
Authors: Pelham Alfred M. , Lieb Pamela
Published: March 2016

Contingency theory suggests that that an appropriate match must be made between strategy and industry environment conditions. This study compared contingency theory expectations with the associations between perceptions of industry environment conditions and reported firm strategy, as reported by the firms president and national sales manager. Confirming theory expectations, there were significant and positive associations between perceived industry technical/market turbulence and reported growth/differentiation strategy as well as significant and negative associations with low cost strategy. The direction and significance of these associations were similar regardless of which manager supplied the perception of technical/market turbulence or the reported strategy. However there were differences across the two managers reports in the associations between strategy and perceptions of product differentiation, customer differentiation, and competitive intensity. Confirming theory expectations, there were significant and positive associations between perceptions of industry competitive intensity and the sales managers reported use of low cost strategy, but not the presidents reported use of that strategy. Confirming theory expectations, there was a significant and positive association between the presidents (but not the sales managers) perceptions of industry product differentiation and managers reported use of growth/differentiation strategy. There was a significant and positive association between the sales managers (but not the presidents) perceptions of industry customer differentiation and managers reported use of growth/differentiation strategy. The presidents and sales managers perceptions of product and customer differentiation had significant negative associations with the sales managers (but not the presidents) reported use of low cost strategy. The authors discuss potential explanations for these results and implications for managers.
Gender Differences In Students Ethical Impressions Of Questionable Marketing Practices
Authors: Bernardi Richard A. , Shepherd Christopher R. , Woodworth Jillian L.
Published: March 2016

In this study, we test the theory that female business majors are more sensitive than male business majors to the ethical issues in advertising promotions. We also examine whether or not business majors are as sensitive as liberal arts majors. Our sample is made up of 218 students from the Northeast area of the US. To measure ethical sensitivity in marketing situations, the participants responded to six scenarios developed from actual news data. The results indicate that female students and female business majors were more sensitive to potentially unethical advertising than male students. We also found that liberal arts students were more sensitive to ethical issues than their counterparts in business schools.
A Study Of Sustaining Firm Competitive Advantage Through Its Image
Authors: Si Steven X. , Ren-Huai Liu , Wynn Pamela , Afza Mainuddin
Published: March 2016

A mass of literature exists promoting the benefits of resource-based theory of the organization. This literature suggests that business-level resources may be sources of competitive advantage if they are rare, valuable, nonsubstitutable, and difficult to imitate. Unfortunately, applying this theory to research or practice requires that the study first identify specific resources that can be measured and investigated. It also requires that this study develops and tests separate theories to explain how these resources are related to competitive advantage. Only through these steps will this study be able to extend the resource-based view of the organization in explaining and affecting competitive advantage efforts. The overarching theory (i.e., resource-based theory) provides only a useful guide to identifying important resources and relationships. The current study argues that organization image is one such resource. The ability of this resource is to enhance an organization competitive advantage. Furthermore, the tacitness, complexity, and specificity characterized by organization image can make this advantage sustainable.