bluuebunny/crossref_metadata_2025 huggingface dataset:
What Shapes Companies Corporate Sustainability? Belgian Pharma Businesses Views On Global Sustainable Development
Authors: Van Leeuw Francois , Scheerlinck Ilse
Published: March 2016

Globalisation and sustainable development are nowadays the buzzwords in socio-economic discussions. However, research on corporate sustainability in an international business context has only recently got off the ground and is still underdeveloped. In this paper, we examine the determinants of Belgium-based pharmaceutical companies views on sustainable development. Particular emphasis is on long run environmental and social sustainability issues. Observations on pharma companies views are gathered through a survey of the industry. We empirically test companies positions using principal components and ordinary least squares. We find that firms positions on sustainable development are determined by internal and external company-specific characteristics. Results also show that government regulation is a significant driver of companies awareness of sustainability issues.
Foreign (Non-US) Taxes On Internet Transactions
Authors: Kozub Robert M.
Published: March 2016

In most discussions of Internet taxation in the United States focus is on sales and use taxation of e-commerce. While such taxes are an important component of the taxing regime on e-commerce, it would be myopic to consider only US taxes as the only tax on Internet transactions. This paper discusses the most important foreign tax on e-commerce is the Value Added Tax (VAT), since a large number of foreign countries impose the VAT.
Optimal Multiple Crop Price Hedging: Robust Estimates Under Yield/Basis Risk
Authors: Fewings David R. , Pekoz Erol A.
Published: March 2016

This paper examines how commodity futures can optimally be used by farmers to reduce exposure to price risk in the presence of production uncertainty. The multiple-crop hedging problem is modeled under conditions of price risk, production risk, and basis risk. The results are of general significance for producers with concave utility functions of expected wealth.Optimal hedges are obtained that are quantitatively robust for different wealth levels and for variations in utility functions spanning the plausible range from decreasing to increasing relative risk aversion and for relative risk aversion coefficients of any plausible value.Extensions to the existing literature include a closed form solution that provides robust estimates of optimal hedging strategy for the multiple crop hedging problem under uncertain yields, estimation of the optimal hedge variation as a function of distance from the geographical center of crop production, and optimal hedge estimates for state average crop mixes by state for forty-two states.
Interest Arbitration A Case Study Lancaster Police Benevolent Association And The Town of Lancaster
Authors: Watson John G.
Published: March 2016

Arbitration is a process wherein a dispute is submitted to an impartial third party for a binding decision. Interest Arbitration involves a dispute over the terms of a proposed collective bargaining agreement. In an Interest Arbitration an impartial third party renders a binding decision on the terms of the collection bargaining agreement. The case study describes a situation where the Lancaster Police Benevolent Association (Union) is negotiating a collective bargaining agreement with the Town of Lancaster. As the parties were unable to resolve the contract through negotiations, an impasse was declared. A demand for arbitration was made by the Union, and the matter was ultimately resolved through the Interest Arbitration process in accordance with the applicable provisions of the Arbitration Procedure contained in the collective bargaining agreement. The case presents the positions of the Lancaster Police Benevolent Association (Union) and the Town of Lancaster on the open issues in the impasse. The case requires students to review the information in the case and develop an appropriate Award (Arbitration decision for the case) for each of the issues. The case represents an actual impasse that went to a formal Interest Arbitration hearing. The Interest Arbitration case is designed for use in a class in Labor Relations/Collective Bargaining or in a Human Relations class. The arbitration process is stressed as well as the difference between Rights Arbitration and Interest Arbitration.
Bilateral Trade and Islamic Sects
Authors: Mehanna Rock-Antoine , Sarieddine Leila , Llorens James L.
Published: March 2016

This paper explores the effects of religion and Islamic sects on bilateral trade activities by employing an extended version of the gravity model. A stratified sample of 33 countries for the average period 1996-99 is selected. Although gravity models have been extensively used in the literature, to the best of our knowledge, they have neither been used to examine the impact of Islamic sects on bilateral trade nor to estimate religion within a model that incorporates oil-exporting countries, culture, regional trading arrangements, and political freedomessential control variables for the specification of the model. Findings reveal that Muslim majority countries trade less than their Christian, Jewish, Buddhist, or other counterparts. In addition, when disaggregating the Muslim sample into Sunni and Shia sects, results show that Sunni majority countries trade more than their Shiite counterparts. Other results and policy implications are discussed.
Mexicos Resilient Cast System: Managerial Implications For Foreign Firms
Authors: Martinez Rutilio , De la Torre Cris
Published: March 2016

Ethnically, three groups form Mexican society: Indians, Mestizos and Creoles. The Mestizos have European and Indian ancestors, while the Creoles have an ancestry that is exclusively European. Until the advent of NAFTA, the managerial profession functioned as an aristocracy, excluded the Indians and was dominated by the Creoles. NAFTA and accompanying free market policies are, however, transforming the managerial profession into a meritocracy, thus bringing Mestizos and Indians into this profession. For foreign firms this transformation causes managerial problems such as the reluctant acceptance of executives of Indian appearance and ethnically based disparities in executives salaries.
Preliminary Evidence On The Relation Between Mid-Semester Instructor Feedback And Students Perceptions Of Class And Instructor Variables
Authors: Porcano Thomas M.
Published: March 2016

Student evaluations of teachers (SETs) are commonly used in many universities as a measure of instructor performance. However, there is controversy regarding the validity of SETs. Research has identified and studied many variables that might affect students ratings of teachers and their perceptions of the class environment, and the results are mixed regarding the relation among and effects of the variables. Obtaining mid-semester instructor feedback might affect how students perceive the instructor, especially if a particular concern is consistently identified and the instructor responds to the concern. Additionally, student performance might increase. Thus, mid-semester instructor feedback is one variable that might have a significant impact on SETs but it has gone unstudied. This paper contains the results of a study designed to determine the impact of mid-semester instructor feedback on student evaluations of the instructor and various variables of the class environment. The results indicate that students in classes that used the feedback (IF) did not perform better than students in classes that did not use the feedback (NIF); however, students gave higher ratings to the instructor and certain class variables in the IF courses than in the NIF courses.
Workplace Abuse: Problems And Consequences
Authors: Ebeid Fred , Kaul Tej , Neumann Kathleen , Shane Hugh
Published: March 2016

Workplace abuse is a relatively recent phenomenon that affects millions of employee in all types of organizations and occupations. Most of the literature on workplace management deals with employment discrimination and due process. Workplace issues of emotional abuse inflicted on employees by supervisors or managers are seldom addressed. An organization becomes abusive when it permits or tolerates abusive employee treatment by supervisors or managers. In the news each day, the media regularly report on violence facing society such as child, domestic, or elderly abuse. However, workplace abuse is rarely mentioned. As more employees become emotionally and even physically ill as a direct result of the work they do, some employers are examining their workplace management practices. The level of workplace stress has been recently intensified by economic downturn, massive layoffs, mergers, and restructuring. Many organizations worldwide have been forced to cut jobs, resulting in dramatic increase in workplace stress and abuse. This article identifies workplace abuse as an emerging organizational issue by focusing on the problems and consequences for management, employees, and their families. It also provides ideas on how to maintain a healthy workplace.
Leveraging Brand Equity: A Life Cycle Approach To Sharing Economic Rents
Authors: Betts Stephen C. , Taran Zinaida
Published: March 2016

Traditionally the owner of an asset collects the economic rents generated by that asset. However, in this paper we recognize that there are situations where it is optimal for the owner of the asset to share the rents with others. Specifically we consider brands and identify situations where it is optimal for brand owners to share rents with the distribution channel (intermediaries). The basic notion is that the intermediaries frequently can take action that enhance or maintain brand equity or sales, and consequently increase the rent generated. Sharing rents can be used to influence intermediaries behavior, and as such rents subsidize promotional strategies. In this paper we use a brand life cycle perspective to examine when the use of rents is useful to enact the optimal mix and intensity of 'pull' (manufacturer) and 'push' (distribution channel) promotional strategies.
A Non-Parametric Analysis Of Efficiency Performances: The Case Of United Arab Emirates Banks
Authors: Budd Bruce Q. , Budd Catherine R.
Published: March 2016

Competition and over-banking in the United Arab Emirates (UAE) indicates serious efficiency challenges facing the UAE banking sector prior to full compliance of the Bassel II capital accord in 2007. Using Data Envelopment Analysis (DEA), this paper investigates the relative efficiency measures. Six measures of efficiency performance are used: allocative, cost, pure technical, technical, scale and overall, using data from the annual financial reports from 1998 to 2002. Despite overall growing profits in the industry, results reveal evidence of over-banking and cost inefficiency in the money market. In particular, evidence suggests that regulatory and not managerial policy implications are attributed to poor cost efficiency results. Interestingly, and contrary to the benefits of economies of scale, the most efficient banks are not always the largest banks. Further evidence identifies contributory structural reasons for UAE banking inefficiency such as extensive capital adequacy ratios. At a time of growing global competition, data transparency and compliance with the World Trade Organisation, some individual banks need to address their financial positions to sustain high future profits.
Dividend Policy: An Empirical Analysis Of The Greek Market
Authors: Eriotis Nikolaos , Vasiliou Dimitrios
Published: March 2016

This paper explores the corporate dividend policy in the Greek market. Assuming that managers are reluctant to make dividend changes that might have to be reversed, we test the hypothesis that corporate dividends are associated with past dividends, as well as the performance and the effective management of the firms. The net income available to stockholders and the sales are employed as dummy variables that capture the performance and the effective management of the sampling firms respectively. The estimations have been performed using panel data procedure for a sample of 149 Greek companies listed in the Athens Stock Exchange during 1996 2001. The empirical results support the hypothesis that companies distribute a dividend according to their performance their effective management and are not willing to change their dividend policy frequently.
Entering The Tourism Industry And Generation Y Prospects: Turkish Entrepreneurs Planning To Enter The American Market
Authors: Mujtaba Bahaudin , Karadayi Shahan
Published: March 2016

Many foreign firms competing globally are trying to secure a piece of the tourism market share in the United States. However, people are finding that starting and expanding a new business in the tourism industry to American consumers in the United States can be challenging. This document explores the strategy and mission of Turkish entrepreneurs assessing the tourism industry from a global perspective and choosing the United States to start securing a piece of the market with Generation Y individuals due to the countrys economic factors, the spending power of the average person, the hunger for cultural awareness and diversity, and the political stability of the country. Overall, the marketing strategy of the organization is discussed for the following factors: the product/service, pricing, distribution, and promotion. For calculating the budget, two options which are the fixed costs and the variable costs options are discussed.The focus of this study was to set up a business in a country such as the United States because such a country would have various types of diverse markets. The average income of most consumers in the developing countries seems to be sufficient to purchase services for pleasure, cultural awareness and other desires they would like to pursue. As such, it makes good business sense to enter this competitive market by differentiating ones offering through price, product and service quality to guarantee initial success.
The Have Nots Have It: Triumph Of Developing Countries At The World Trade OrganizationMeeting In Geneva
Authors: Yallapragada RamMohan R. , Sardessai Ron M. , Paruchuri Madhu R.
Published: March 2016

In July 2004, 147 World Trade Organization (WTO) member countries met in Geneva where the developed countries agreed to cut back and eventually eliminate an estimated $350 billion of their farm and export subsidies. The accord was hammered out by five WTO members including India and Brazil and submitted to the WTOs plenary session where it was finally ratified on July 31, 2004. The Fifth Ministerial Conference of the World Trade Organization held in Cancun in September 2003 collapsed from inside as internal squabbles and irreconcilable philosophical differences developed between the developed countries and the developing countries. The WTO, which started with noble objectives of raising the global standards of living through international trade agreements and cooperation among the WTO member countries, appeared to be teetering on the verge of a complete collapse. Over the past decade, through five ministerial conferences, the WTO member countries gradually got polarized into two main blocks, the haves and the have nots, the developed countries and the still developing countries respectively. One of the important items of contention was the issue of reduction and elimination of the huge farm subsidies in the European Union (EU) and the United States (US). At the 2003 WTO conference in Cancun, 21 of the developing countries formed a group, known as G-21 initiated under the leadership of Brazil and India, and insisted on discussions for elimination of the farm subsidies of the EU-US combine. The EU and US governments give billions of dollars worth of agricultural and export subsidies annually to their farmers that allow them to have a competitive advantage in international markets in effect preventing agricultural producers in developing countries from having access to global markets. The EU delegates insisted that the four Singapore issues must be dealt with first before including any discussions on the issues of farm subsidies on the agenda. The G-21 over night swelled into G-70. The developing countries refused to be pushed into a corner and have proved that they are now a force to reckon with. The WTO Cancun conference came to a dramatic end without any agreement, leaving the negotiations in a deadlock. At the historic July 2004 WTO negotiations in Geneva, an accord has been reached under which the developed countries agreed to reduce and eventually eliminate their export and farm subsidies. The developing countries also agreed to lower their tariffs on imports from EU-US and other developed countries. The accord is expected to pave the way for the resumption of the WTO Doha Round of multilateral negotiations to liberalize world trade.
Knowledge Management Challenges For Global Business
Authors: Kalkan Veli Denizhan
Published: March 2016

Managing organizational knowledge effectively is a prerequisite for securing competitive advantages in the global marketplace. The field of knowledge management brings out important challenges for global business practices. Based on a comprehensive academic and popular literature review, this paper identifies six main knowledge management challenges faced by global business today. These are developing a working definition of knowledge, dealing with tacit knowledge and utilization of information technology (IT), adaptation to cultural complexity, attention to human resources, developing new organizational structures, and coping with increased competition. The paper offers an overall view of knowledge management challenges for global business via discussing the challenges in relation to managerial practice, therefore, provides insights on managing knowledge in global corporations.
Empirical Evidence Of The Strategies Of International Investment Of The Major Multinationals
Authors: Tardivo Giuseppe , Dias Rui T.
Published: March 2016

Our work debates the problematic of the definition of internationalization strategies by Multinationals. We give some highlights on the main elements that condition such a process. The main perspective is derived from the analysis of the nature of the process of internationalization. We look for empirical evidence of the elements that influence the process of internationalization. We use data from the internationalization indexes from the UNCTADs world investment reports from 1990 to 2001, to test our models. Foreign markets sales and firms dimension are the factors that statistically explain the behaviour of investment in foreign assets.
Determining Factors Of Long-Term Orientation Of Firm-Supplier Relationships: An Empirical Analysis In The Context Of The Spanish Agro-Food Sector
Authors: Fierro Jesús J. Cambra , Redondo Yolanda Polo
Published: March 2016

In an increasingly competitive and dynamic economic environment, the establishment, development and maintenance of enduring relationships between suppliers and customers is critical for both agents, and represents an important source of competitive advantages for those companies able to manage them adequately. Taking as reference the perspective of the customer, we consider that it is important for them to always work with a group of suppliers that have demonstrated an ability to adapt to their specific needs and thereby to reduce the level of uncertainty associated with their supply function. The current work, which takes the Spanish agro-food sector as framework of reference, analyzes the importance of certain factors in the long-term orientation of these relationships.
Analysis Of The Sustainability Of Endowment Fund Spending Rates From Domestic And Internationally Diversified Portfolios
Authors: Hubbard Carl M.
Published: March 2016

Portfolio success rates do not diminish greatly when spending is increased from 5% to 7% in equity-heavy portfolios. Foreign equities increase the sustainability of spending rates in shorter planning periods. Portfolio success rate analyses were completed for hypothetical endowment portfolios of S&P 500 stocks, MSCIs Developed World x USA Index, and high-grade corporate bonds for planning periods of 1, 5, 10, and 15 years using overlapping samples of quarterly returns from the first quarter of 1970 through the fourth quarter of 2003. A portfolio is considered a success if at the end of the planning period the portfolios nominal value in Table 1 or deflated value in Table 2 net of spending is equal to or greater than its value at the beginning of the planning period. Higher portfolio success rates suggest greater sustainability of spending rates.
Diversification, Relatedness, And Firm Performance: Empirical Evidence From China
Authors: Jiang Wei , Zhihui Chen , Chan Peng S.
Published: March 2016

The relationship between diversification, relatedness and performance has long been a controversial issue in mainstream strategic management research. Research in this area, however, has focused primarily on developed countries. This study argues that the conclusions drawn from developed countries may not apply to developing countries. In an investigation of 227 publicly-listed companies in China, this study found that: 1) firm scale significantly contributes to the improvement of economic performance; 2) relatedness correlates negatively with firm performance, and 3) the relationship between diversification and performance fits the intermediate model. This study also provided evidence to support the argument that differences do exist in the rationales between firms in developed and developing countries.
Impact Of International Agricultural Policies On Rural Poverty In Turkey
Authors: Gülçubuk Bülent , Aluftekin Nilay
Published: March 2016

Poverty is one of the important subjects that come into question in the world in the last decade. Poverty affects people directly or indirectly. Poverty begins to constitute most important problem of community and economic life in Turkey. Because of development in economy, fluctuations, shocks and commitments to international agriculture politics (World Bank, WTO, IMF practices) and politics that put into practice after 1980s have effected and continue to effect agriculture sector in Turkey. From now on, agricultural politics are determined by international organizations and companies. Politics that are put in practice for agriculture, price interventions, changes in support politics, privatization, reduce in input supports, to open out to international markets have mostly influenced small agricultural enterprises and landless. According to results of General Agriculture Census (2001), there are 3.020.000 agricultural enterprises in Turkey and 83 % of them are smaller than 10 hectares. In addition to this, 30% of agricultural population consists from landless. The most effected parts are landless and small agricultural enterprises because of practices such as sugar law, tobacco law, and change in support politics that result in international agricultural politics. This process brings about gradually increase and deepen in poverty in rural area with migration, unemployment and income distribution problems at national level. International agricultural politics mostly affect sugar and tobacco producers because of sugar and tobacco are the most important agricultural products in Turkey. Nearly 1 million sugar and tobacco producer families and 4.5-5.0 million people employ in transportation, marketing, and processing of these products. Because of sugar and tobacco law and limitations in producing hazelnut and tea plant, nearly 1.5 million producer families and labors who are involved in related sectors have directly affected. According to Household Budget Questionnaire in 2002, 38% of total population of Turkey is living with 2 USA Dollar income. At this point, it is so important to state that, rural areas feel poverty more deeply than urban areas. In fact, poverty ratio is 43% in rural areas that means of subsistence is only agriculture. In addition to this, the rate of absolute poverty in rural areas is 3,5 times of urban areas. In this paper, definition and characteristics of poverty and rural poverty in Turkey will be dealt with and effects of international politics on rural poverty will be examined.
Can Fundamental Analysis Support Shareholder Value In A Transitional Market? Perspectives From Egypt
Authors: Eldomiaty Tarek Ibrahim
Published: March 2016

This study examines the informativeness of fundamental financial information to three levels of shareholder value. In general, the results show that the fundamental financial information is quite informative to shareholders using the MB ratio as a measure of shareholder value. According to the sensitivity analysis, (1) the balance sheet items are not quite informative, (2) the income statement items are consistently informative to shareholders at the three classes, and (3) the financial ratios, as a form of co-integrated financial information, are quite informative to the high and low shareholder value classes. The results regarding the fundamental analysis indicate that (a) in the three levels of MB firms, investors are concerned with the short-term horizon, (b) in the low MB firms, the investors are concerned with the long-term horizon, (c) in the high and low MB firms, the operating and total expenses are regarded as a capital investment, (d) in the high MB firms, the trend is to finance operations using equity rather than debt financing, (e) profitability affects low MB firms only rather than high and medium firms, (f) in the high and medium MB firms, investors do not regard the elements related to firms operations, (g) in the low MB firms, investors are concerned with the effects of capital structure on firms value although the results show that dividends have a reverse effect on firms market value.
Impact Of Chinas Yuan Revaluation
Authors: Pan William , Upadhyaya Kamal , Liang Jiayaan
Published: March 2016

In the past two years, the Bush Administration, members of Congress and a few senators, such as Sen. Charles Schumer of New York and Sen. Lindsey Graham of South Carolina and others have put pressure on China to abandon her peg the Chinese Yuan to the U.S. Dollar. These efforts finally succeed. On July 21, 2005, Peoples Bank of China announced that the Chinese Yuan is no long pegged solely to the U.S. dollar, instead, the Yuan is now linked to a basket of currencies, including Dollar, the Euro, the Japanese Yen, the Korean Won and other currency from any country that had at least $10 billion trade with China. In this paper we ask the questions: what is the impact of China Yuan revaluation decision? Does this means that China no long stockpile U.S. Treasury Bills? The American consumers can no longer benefit from the low-priced consumer goods manufactured in China? And in what way the U.S. economy will be affected, if at all?
Regional Economic Cooperation
Authors: Gough Gordon M. , Venkataramany Sivakumar
Published: March 2016

Free trade agreements are an essential segment of the global economy. Regional economic cooperation is the fuel firing the push towards a global economy. Nations will need to belong to some type of regional economic cooperation unit to compete with other regionally aligned nations. This article provides three factors (1) an overview of the qualifications that exist regarding FTAs, (2) comparison of the four largest FTAs (EU, NAFTA, MERCOSUR, and ASEAN), and (3) FTAs effect on global foreign policy. These factors demonstrate the vitality of a regional future.
Reviewing Business Method Patents (BMPs): A Strategic Asset For Companies And Inventors
Authors: Dholakia Jwalant
Published: March 2016

Ever since the State Street Bank decision by the Court of Appeals for the Federal Circuit, BMPs have been validated as patentable subject matter and as a consequence have become a point of discussion and debate among professionals in the industry. Along with this, criticism for the validity and advantages of BMPs has also increased, especially in the wake of some Bad Patents granted by the USPTO immediately after the State Street Decision. This paper contradicts this opinion and tries to reinforce the significance and advantages of awarding BMPs to companies in todays global marketplace. BMPs are here to stay. Some fine tuning of its rules and regulations over time might make them more beneficial and efficient; however, it is definite that implementation and use of BMPs is sound policy. The necessary groundwork is laid by conducting a review of the various topics involved while dealing with BMPs including, history, example cases, advantages, legal requirements and procedures, and international aspects among others. This paper should be used as a comprehensive review for conducting an introductory research on BMPs. An interested researcher can look at the USPTO website on BMPs for more detailed and specific information pertaining to various aspects of BMPs.
Analysis And Measurement Of The Impact Of Information Technology Investments On Performance In Mexican Companies: Development Of A Model To Manage The Processes, Projects And Information Technology Infrastructure And Its Impact On Profitability
Authors: Martínez Ricardo Sierra , Kuri Carlos Miguel Barber
Published: March 2016

In Mexico, companies invest enormous resources in information technology (IT), with little evidence of the latters effectiveness. Company directors struggle with gauging how effective or ineffective making these investments truly is, given the lack of instruments of measurement by which to establish, for instance, an internal rate of return or a period of recovery on investments. There is also no evidence by which to link IT investment to improvements in a companys performance or profitability. While several American and Australian universities have developed studies that address these issues, for the most part these are limited to their respective countries and in some cases to Canada and Europe. Thus, there is a lack of empiric evidence in the Mexican scenario. Being able to analyze and measure the impact of IT investments is an important first step into making these resources more efficient. Based on the following analyses, one will identify the variables that intervene in successful and/or unsuccessful management of processes and projects, as well as in the administration of IT infrastructure.
Austrian Government Expenditures: Wagners Law Or Baumols Disease?
Authors: Neck Reinhard , Getzner Michael
Published: March 2016

Government expenditures have grown in Austria during most of the 20th century. In this paper, we present empirical evidence for this growth process and analyze some of its possible reasons. In particular, two prominent theoretical explanations for public sector growth are tested for Austria: first, Wagners Law hypothesizing a positive income elasticity of demand for public goods, and second, Baumols Cost Disease, relating public sector growth to above-average cost increases in the public sector as compared to the private sector. The empirical evidence confirms the importance of the Cost Disease for Austria but cannot confirm the validity of Wagners Law. Business cycles influence government expenditures in the short run, while a number of variables suggested by public choice theories except for fiscal illusion do not significantly influence the growth of the public sector in Austria.
Independency Or Correlation? The GCC Stock Markets, Interest Rates, And Oil Prices: Against All Financial Rules
Authors: Naïmy Viviane Y.
Published: March 2016

This paper examines the relationship(s) that exist among the four GCC stock markets: Kuwait, Saudi, UAE, and Oman. We observed and measured how and up to which extent oil prices, gold prices, and US interest rates affect these markets for the period 2005. We noticed a positive relationship between these markets and each factor and a perfect positive correlation between the Kuwaiti and Saudi markets.
Modeling IPO In Dubai Stock Market: Booming Or Tumbling Return?
Authors: Naïmy Viviane Y.
Published: March 2016

This paper examines the impact of IPO on Dubai Stock Market. We measured through detailed distribution analysis and hypothesis testing the Dubai markets reaction to IPO. We demonstrated that IPO had downbeat impact on Dubai market performance in terms of return as revealed by the rejection of the alternative hypothesis. The independency between market return and IPO was partially attributed to irrational valuations at the time of IPO.
Estimation Of Labor Demand Elasticity For The RMSM-LP: Revised Minimum Standard Model For Labor And Poverty Module
Authors: Min Hong-Ghi
Published: March 2016

The RMSM-LP (Revised Minimum Standard Model for Labor and Poverty) is a Microsoft Excel-based simulation package for facilitating the forecasting, monitoring and analysis of financial flows of developing countries developed by the World Bank. It models the demand side of the economy by using an economy wide consistent flow-of-funds framework in which different agents are identified. More precisely, the basic model includes the National Accounts; Balance of payments; general Government; Monetary survey and a rest of the economy account. In addition to the above-mentioned sectors, the model forecasts detailed trade accounts and foreign debt flows and stocks. As such it can be used to produce a comprehensive outlook for a developing economies.To be able to calibrate RMSM-LP module, we need to provide labor demand elasticity of wage and output for two heterogeneous labor groups (skilled and unskilled). However, in reality, reliable labor data is unavailable or do not have sufficient observations for the efficient estimation of labor demand elasticity for many developing countries. For this reason, (1) we do a literature survey to find acceptable ranges of wage and output elasticity for the labor demand and (2) provide some labor database accessible for economists and (3) provide actual estimates of wage and output elasticity of labor demand using aggregated data of manufacturing and agricultural sector for two regions (Africa and Latin America).Finally, based on survey and actual estimates, we provide an acceptable range of elasticity for the proper calibration of RMSM-LP module.
Strategic Role, Challenges And Opportunities For Small And Medium Enterprises Facing DR-CAFTA: The Case Of Costa Rica
Authors: Baraya Arístides R. , Budden Michael C. , Bonilla Lizette Brenes
Published: March 2016

The development of regional business treaties and the subsequent removal of trade barriers has created new paradigms and challenges for companies in Latin America, especially in fast-growing Central America. This paper examines the role, challenges, and opportunities for small and medium enterprises (SMEs) in Costa Rica relative to the Dominican Republic-Central American Free Trade Agreement (DR-CAFTA, or CAFTA in the US). Opportunities and challenges facing SMEs and the potential impact of DR-CAFTA on industry performances in Costa Rica are discerned. Central American nations and Costa Rica in particular, are facing new challenges, threats and opportunities that arise from trade agreements. Such is the case with DR-CAFTA. These paradigms and competitive pressures will directly impact external trade and sustainable economic development. Opportunities are associated with new laws and regulations, incentives to reinforce and improve business practices especially with regard to human capital, as well as new scenarios for international cooperation, commercial agreements and the growing use of outsourcing. The implications of DR-CAFTA are far-reaching and directly impact the development of small and medium enterprises in Costa Rica.
Profitable Technical Trading Rules For The Austrian Stock Market
Authors: Metghalchi Massoud , Glasure Yong , Garza-Gomez Xavier , Chen Chien
Published: March 2016

Two moving average technical trading rules for the Austrian stock market are tested. Results indicate that moving average rules do indeed have predictive power and could discern recurring-price patterns for profitable trading. Results also support the hypothesis that technical trading rules can outperform the buy-and-hold strategy. Break-even one-way trading costs are estimated to be between .61 and 2.36 %. These break-even costs are larger than recent estimates of actual trading costs, implying profitable trading rules for the Austrian stock market.
Constraints And Contingencies Of The Small Business: A Comparative Perspective
Authors: Amin M. Ruhul , Banerjee Sharmistha
Published: March 2016

Small businesses relative to the medium and large businesses tend to demonstrate culture (country) specific business practices. However, in spite of the recognized diversity of business practices, strong homogeneous tendencies and norms have been developing specially among the small businesses that operate in the global market place. These tendencies and norms offer unique opportunity for a comparative perspective. This paper is an attempt in this regard toward identifying the issues of constraints and challenges of the small business from a comparative perspective. A part of multi-country study, authors collected data in 2006 from 133 small businesses of India, and 112 small enterprises in Bangladesh. The findings provide a varying degree of supports for two illustrative hypotheses concerning issues, constraints and contingencies of small businesses in these two countries. The authors believe that the paper is likely to enhance empirical understanding of the small business from a comparative perspective.
Latin Americas Racial Caste System: Salient Marketing Implications
Authors: Martinez Rutilio , Iyer Vish
Published: March 2016

Latin American societies are structured in a fuzzy racial caste system. Whites are at the top. Next are individuals of mixed European and Indian or mixed European and African ancestry, the Mestizos and the Mulattos, respectively. At the bottom are the Indians and the blacks. Integral to this system is an overt preference for European appearance and, among many whites, the firm conviction that the dark-skinned are racially inferior. This results in exclusive use of models of European appearance in publicity channels, higher prices of luxury goods, and the perception that Latin American products are of poor quality.
A Value Stream Approach For Greening The IT Department
Authors: Dadashzadeh Mohammad Dadashzadeh , Wharton T.J.
Published: March 2016

In this paper, we consider the application of Green Value Stream Mapping for greening the information technology functional area of organizations. We advocate the use of Information Technology Infrastructure Library (ITIL) processes to consider value stream maps for both the manufacturing side of the IT department as well as its service delivery arm. In addition, we present steps to be taken by the IT department to eliminate waste in each of seven green waste areas and consider the impact of new technologies for greening the IT department.
Positive Organizational Behavior In The Workplace: A Cross-Cultural Perspective
Authors: Ramlall Sunil J. , Al-Kahtani Ali , Damanhouri Hind
Published: March 2016

Positive psychological principles and subsequently positive organizational behavior (POB) have become increasingly prevalent in the workplace in recent years. We have witnessed many struggles in the global economy where organizations across the world have experienced layoffs, lower productivity, lower employee morale, and generally struggling to be competitive. Given these negative environments, what can organizations do across the world to enhance the positive practices that will create benefits for all of the stakeholders through POB? We also identify gaps that exist in organizational practices and how positive organizational behavior can be integrated to build sustainable organizations.
The Effects Of Hindsight Bias On Auditors Confidence In Going-Concern Judgments And On The Audit Opinion Decision
Authors: Anderson Kim L.
Published: March 2016

This paper examines the extent to which hindsight bias influences auditors confidence in their going-concern judgments and the resulting audit opinion decision. According to auditing standards, auditors are required to determine if substantial doubt exists regarding an audit clients likelihood of continuing as a going concern for one year from the date of the financial statements being audited. If substantial doubt does exist, an unqualified opinion modified with an explanatory paragraph describing the going-concern issue is required. Prior research indicates that auditors are prone to hindsight bias when making going-concern judgments. Hindsight bias is the tendency for individuals who have been provided the outcome of an event to overstate their abilities to have predicted that outcome in foresight. Prior research assumes that the presence of hindsight bias creates overconfidence and that this overconfidence will influence the audit opinion decision and will adversely affect the accuracy of subsequent probability judgments made in foresight. This assumption has never been tested, however, and non-hindsight studies found in the confidence literature suggest that the assumption might not hold true for experienced professionals, such as auditors. Using an experimental methodology, this study finds that auditors are prone to hindsight bias, but finds no evidence that this bias leads auditors to be overconfident in their going-concern judgments, nor does the bias influence their opinion decisions.
E-Government: The Implementation Of Effectiv eDigital Technologies To Improve The Delivery Of Government Services To Their Consumers (Citizens)
Authors: Nyaboga Andrew B. , Mwaura Muroki F.
Published: March 2016

In this study, we examine the factors which may influence the implementation of effective government services over the internet (e-Government) at the federal, state and local levels. The authors argue that although the federal, state and local agencies have taken an initiative to integrate their services over the internet, the perpetuity of complex issues and limitations continue to slow down the process of effectively implementing e-Government. The paper broaches, by identifying, some of the factors that continue to influence the implementation of effective e-Government services. We further argue that the implementation of e-Government cannot be solved through simple technological solutions alone, but through a synergistic approach involving other factors, such as approaching the citizen with customer services orientation rigor, culture, training, attitudes and education inter alia. This paper is not the panacea but a soft approach that could be used by government agencies to integrate an online portal that focuses on its customers (citizens).
A Case For Integrating Technology Into Small Enterprises Development In Nigeria
Authors: Ekanem Nkanta Frank
Published: March 2016

This article presents arguments to support the integration of simple and easily adaptable forms of technology into small and medium-sized enterprises. Empirical evidence with Nigerian data shows that technological orientation leads to efficient production measured in terms of increased output (gross sales), employment and start-up capital. However, research data from other developing economies show that there are many more advantages, which may also apply to Nigeria. These include easy access to the global market made possible by the use of the Internet and web site procurement and advertising.
Fair Value Accounting vs. Historical Cost Accounting
Authors: Jaijairam Paul
Published: March 2016

This paper reviews fair value accounting method relative to historical cost accounting. Although both methods are widely used by entities in computing their income and financial positions, there is controversy over superiority. Historical cost accounting reports assets and liabilities at the initial price they were exchanged for at the time of the transaction. Conversely, fair value accounting quotes the prevailing price in the market. Nevertheless, while both methods of accounting affect financial statements, the impact of fair value accounting on the balance sheet and income statement is extreme due to the potential volatility of the method. Fair value accounting is deemed superior when compared to historical cost accounting because it reflects the current situation in the market whereas the later is based on the past. In addition, in relative terms, fair value accounting provides users with more current financial information and visibility.
The Long And The Short Of eCommerce Intentions: Examining The Distinguishing Effect Of Time Orientation Between Behavioral Intentions And Behavioral Goals
Authors: Campbell Damon E. , Parboteeah D. Veena
Published: March 2016

This study analyzes the distinction, both conceptually and operationally, between behavioral intentions and behavioral goals. This paper recognizes the importance of time orientation in the measurement of behavioral intentions, as defined by Fishbein and Ajzen (1975). Literature is reviewed that shows this conceptual definition is often misused in information systems (IS) research because behavioral intention is sometimes operationalized with a long-term time orientation (i.e., continued use). This paper offers an empirical assessment, in the context of online purchases, of the discriminant validity between behavioral intentions and behavioral goals. The results of the survey (N = 458) indicate that time orientation does distinguish these constructs in an eCommerce setting. Theoretical implications are that long-term oriented behavioral intentions actually represent behavioral goals and thus have less conceptual implications for predicting actual behavior. Practical implications indicate that such distinctions may influence eCommerce strategies for online impulse purchases as well as customer relationship management.
Design And Evaluation Of An Internet Study Tool As A Data Collection Device
Authors: Geerts Guido L. , Waddington Barbara A.
Published: March 2016

This paper describes the design, capabilities, strengths and weaknesses of a tool that collects data from subjects through the Internet. The Internet tool was designed for students studying cardinalities, a difficult data modeling topic frequently taught in the accounting information systems course. The Internet tool was able to observe usage and task accomplishments of subjects. We used these observations to learn characteristics about tool usage and to compare computer-recorded and self-reported data. These comparisons allow us to evaluate the Internet tool as a data collection device.
Enhancing Knowledge Management With XML
Authors: Murtaza Mirza B. , Greer Timothy H.
Published: March 2016

Knowledge Management involves gathering, categorizing, storing and sharing of knowledge. There are several available tools that can be used to build a knowledge management infrastruc-ture to achieve its goals. This paper discusses issues involved in designing an information Portal using XML-based tools. As compared to traditional HTML-based portals, use of XML offers several benefits - it provides a great way of efficiently aggregating, classifying, and presenting both structured and unstructured content over the Internet or similar networks.
Balancing optimism and criticality in a time of change
Authors: Hall Elaine
Published: March 2016

Elaine Hall introduces 2016's first regular edition of the IJCLE.
Marriage of convenience or a match made in heaven? Collaboration between a Law School Clinic and a Commercial Law Firm
Authors: Castles Margaret
Published: March 2016

The cost of clinical legal education courses has always been a challenge to law schools. In the last 40 years clinicians have developed and trialed many different innovations in clinical law, in response to increased student demand for clinical experience, and greater pressure on the legal services market. Two common models are the in house clinic and the externship placement. This article explores the idea of a ‘reverse externship’ – with private solicitors coming into an in house clinic to assist in the supervision of students on placement. It tracks the development and implementation of this initiative, and reports on both the practical challenges and the pedagogical benefits that we encountered.