bluuebunny/crossref_metadata_2025 huggingface dataset:
Corporate Managers‟ Experiences Related To Implementing Section 404 Of The Sarbanes-Oxley Act: A Focus On Information Systems Issues
Authors: Bryan Lois D.
Published: February 2016

This article reports the experiences of corporate managers implementing the requirements of Section 404 of the Sarbanes-Oxley Act as it pertains to information systems. To carry out this research high ranking corporate managers were interviewed. Their firsthand experience with implementing the requirements of the Act provides valuable insight into some of the challenges and benefits resulting from the legislation.
Linking Information Sharing And Supplier Network Responsiveness With Delivery Dependability Of A Firm
Authors: Thatte Ashish A. , Agrawal Vikas , Muhammed Shahnawaz
Published: February 2016

The twenty first century organization is required to provide accurate on time deliveries in addition to providing high quality products at low costs. This can be achieved if various processes within and between the organizations are streamlined and well defined. Several studies have indicated the significance of various manufacturing (or internal) practices that are instrumental in creating time-based competitive capability. Collaborative relations and information sharing practices with suppliers have long been believed to positively impact the responsiveness and delivery performance of organizations and supply chains. Responsive suppliers can play a key role in affecting a firm’s own delivery performance.  This research investigates and tests the relationships between information sharing practices of a firm, supplier network responsiveness, and delivery dependability of a firm. The large scale web-based survey yielded 294 responses from industry professionals in the manufacturing and supply chain area. The proposed relationships were tested using structural equation modeling. The research findings point out that higher level of information sharing practices can lead to improved supplier network responsiveness, and higher levels of supplier network responsiveness can have a direct positive impact on delivery dependability of a firm. The implications of our findings are discussed and directions for future research are provided.
The Use Of Capital Budgeting Techniques In Businesses: A Perspective From The Western Cape
Authors: Brijlal Pradeep , Quesada Lemay
Published: February 2016

Capital budgeting is one of the most important areas of financial management. There are several techniques commonly used to evaluate capital budgeting projects namely the payback period, accounting rate of return, present value and internal rate of return and profitability index. Recent studies highlight that financial managers worldwide favor methods such as the internal rate of return (IRR) or non-discounted payback period (PP) models over the net present value (NPV), which is the model academics consider superior. In particular this research focused on small, medium and large businesses and investigated a number of variables and associations relating to capital budgeting practices in businesses in the Western Cape province of South Africa. The results revealed that payback period, followed by net present value, appears to be the most used method across the different sizes and sectors of business. It was also found that 64% of businesses surveyed used only one technique, while 32% of the respondents used between two to three different types of techniques to evaluate capital budgeting decisions. The findings show that the more complicated methods such as IRR and NPV are most favored by the large businesses as compared to the small businesses. The majority of the respondents believed that project definition was the most important stage in the capital budgeting process. Implementation stage appeared to be the most difficult stage for the manufacturing sector whereas Project definition, Analysis and selection and Implementation were generally rated as being the difficult stages by the retail sector. Project definition and Analysis and selection were found to be the most difficult stages by the service sector. Most businesses used the cost of bank loan as a basis in capital budgeting and more than two thirds of respondents used non-quantitative techniques to consider risk when making a decision on investing in fixed assets.
Auditor’s Responsibilities For Investigating And Detecting Illegal Employment Activities By Audit Clients
Authors: Reed Ronald O. , Turner Karen , McConnell Allen
Published: February 2016

Asking the auditor to be responsible for detecting illegal employees is a far reach. This is management’s responsibility. However, this paper discusses why the auditor may have an obligation to expand audit procedures to investigate the possibility of illegal hiring practices. When the client is operating in an area or industry where illegal employees are commonly used, then the auditor should use an attitude of professional skepticism and beware of illegal employees being used by the company. Inquiries and observations procedures may indicate potential illegal hiring practices. Also, discussions with management and other employees should be performed as well as a thorough review of board minutes. The procedures performed by the auditor in gaining an understanding of the entity and its environment as well as in the search for illegal acts may identify situations where the hiring of illegal employees is a possibility. One of the main issues raised in the article is the impact on the level of trust that needs to exist between the client and the auditor.
Baby Boomers And Generation X Industrial Salespeople: Generational Divide Or Convergence?
Authors: DelVecchio Sue
Published: February 2016

Currently two of the largest generational groups occupying industrial field sales positions are Generation X and Baby Boomers. While anecdotal evidence suggests these two generations are widely different, few studies have compared their career attitudes.  Working within the conceptual framework of psychological employment contracts this study tested the notion that Generation X would be more transactional and Baby Boomers would be more relational in nature.  This nature was expected to take the form of higher intrinsic motivation levels and fewer career path changes among Baby Boomers.  While Baby Boomers do tend to express higher levels of intrinsic motivation, their career paths are less relational than expected (i.e. their careers are spanning more than one employer).  Overall the findings provide partial support for some of the relational theory expectations- and more importantly dispel still others.  Managers faced with intergenerational field sales forces may similarly, therefore, question the assumption that Baby Boomer field salespeople will follow the relational employment contract profile.
Empowerment: Trait Relatedness
Authors: Rodgers Joel E. , Griffin Thomas E.
Published: February 2016

The purpose of this study was to determine whether the extent that variances in the level of empowerment can be influenced by the willingness of supervisor to empower, the willingness of subordinates to be empowered and the subordinators’ age. The results indicate that there is a positive relationship between subordinates’ empowerment level and the subordinates’ willingness to be empowered; but there is no significant relationship between subordinates’ empowerment level and the supervisors’ willingness to empower.
Do Underwriters Create Value In The Determination Of The IPO Final Offering Price?
Authors: Thornton Barry , Adams Michael , Hall George
Published: February 2016

A company sets a price range in their “red herring” prospectus filed with the Securities and Exchange Commission when they issue shares for the first time.  The firm’s investment bankers then test the market to determine if the shares can be sold.  The final offer price will be above, within or below the initial price range in the “red herring.”  This paper studies the first day price change and relates it to the final offering price being set below, within or above the initial price range.  Based on six years (2002-2007) of market data, covering both bull and bear markets, it appears that investors might be able to realize higher percentage gains on the first day by investing in those stocks that are priced above the range indicated in the “red herring.” Furthermore, the exchange on which the IPOs are traded also plays a significant role in the first day price change. We find empirical support for the partial price adjustment hypothesis of IPO underpricing and this finding is robust with respect to market regiments.
A Quantitative Study On The Fair Trade Coffee Consumer
Authors: Cailleba Patrice , Casteran Herbert
Published: February 2016

Few European quantitative studies are available concerning the behavior of ethical consumers. Most of the studies regarding Fair Trade (FT) coffee purchases stick to the consumer perceptions and values. Based on 118,252 French transactions made between 2005 and 2007, this study investigates the impact of personality traits, product characteristics and types of promotions on FT coffee purchases. Regarding the French FT market (third biggest market in the world) and the importance of FT coffee within this market (almost 50% of all sales), the understanding of the French FT coffee consumer helps identify some features of the European FT consumer. This paper examines the link between FT coffee purchases and personal characteristics and the timing of purchase. The results demonstrate that the gender and the age are not related to FT coffee purchases. The promotions have no specific impact on FT coffee but can play a significant role in terms of adoption. Moreover, the FT coffee purchases have a specific seasonality and grow with the educational level and the standard of living.
Accuracy And Cost Of U.S. Financial Data
Authors: Flanegin Frank , Racic Stanko , Rudd Denis
Published: February 2016

Data from The Center for Research in Security Prices (CRSP) has been widely recognized and accepted as the premier source of research quality U.S. stock market data for more than 40 years. As a result of advances in information technology, other sources of U.S. stock market data became available during the last decade. The purpose of this study is to analyze the accuracy of data from Yahoo, MSN Money and Worden Brothers TeleChart, against CRSP, by comparing their closing prices for 30 companies included in the Dow Jones Industrial Index and 30 randomly selected companies from the smallest quintal of S&P 500 firms, over the five year period from 01/01/2003 through 12/31/2007.  Preliminary findings are based on the limited time period and size of the sample. While CRSP is undoubtedly “the place” to gather quality financial information, non-CRSP sources of financial data, perhaps not as robust as CRSP, are sufficiently accurate to support research and teaching in quality learning environments. Furthermore free sources of financial data e.g. MSN Money, resemble CRSP as well as, if not better than, commercial TeleChart. Results suggest that Yahoo and particularly MSN Money are acceptable transitory substitutes for CRSP for research purposes, especially for securities from larger, well known firms, and more than adequate for teaching needs. Manual data downloading for MSN Money and Yahoo can be automated with Excel add-in or free shareware software.
The Effect Of Organizational Learning On Organizational Commitment, Job Satisfaction And Work Performance
Authors: Rose Raduan Che , Kumar Naresh , Pak Ong Gua
Published: February 2016

The literature review reveals that there is a relationship between organizational learning organizational commitment, job satisfaction and work performance. However, it is apparent that the integrated relationships between these variables have not been found to be reported. Hence, we examine the relationship among these variables using a sample of public service managers in Malaysia. Organizational learning was found positively related to organizational commitment, job satisfaction, and work performance. Organizational commitment and job satisfaction are also positively related with work performance and these variables partially mediate the relationship between organizational learning and work performance. Implication of the study and suggestions for future research been discussed in this paper.
An Improved Methodology For Absorption Costing: Efficiency Based Absorption Costing (EBAC)
Authors: Benjamin Samuel Jebaraj , Muthaiyah Saravanan , Marathamuthu M. Srikamaladevi
Published: February 2016

This paper presents an improved, efficiency based absorption costing method. Efficiency based absorption costing EBAC represent an algorithm that absorbs costs based on efficiency as the main driver and we compare its results with other methods such as ABC as proof-of-concept. EBAC results in significant cost changes compared to ABC and the traditional costing system (TCS). Businesses could embrace the more efficient EBAC for a host of their pertinent cost control and decision making needs. The EBAC methodology is both easy and convenient to apply as firms currently using ABC could instantly explore EBAC without the need to gather extra information.
Organizational Slack And Performance: The Impact Of Outliers
Authors: Wefald Andrew J. , Katz Jeffrey P. , Downey Ronald G. , Rust Kathleen G.
Published: February 2016

Extending initial theory development and empirical studies conducted in the early 1980s, the investigation of the relationship between slack resources and the performance of the firm has experienced renewed attention.  Over the past 25 years enough empirical research has been conducted that researchers have begun to question the frequently found ambiguous results.  We assess the impact statistical outliers may have on the relationship between organizational slack and firm performance trying to determine whether the positive, curvilinear, or ambiguous results that have been reported are impacted by the presence of outliers.  We found that the measures of organizational slack were highly variable due to five general factors. When the outliers, extreme values, were statistically identified and removed, the relationship between organizational slack (Available Slack) and performance (ROA) became non-linear and consistent over years.  Implications suggest that future research should consider the potential impact that non-normal distributed data could have on the validity of findings, particularly when employing data from archival sources. Suggestions for future research in the slack-performance relationship are offered.
The Sarbanes-Oxley Act: A Cost-Benefit Analysis Using The U.S. Banking Industry
Authors: Siegel Philip H. , Franz David P. , O’Shaughnessy John
Published: February 2016

There are many analyses of the economic effects that regulations, in general, and Sarbanes-Oxley Act, in particular, have had on American business. This analysis looks at the effect that the Sarbanes-Oxley Act has had on the American banking industry. The return on assets and return on equity were obtained from the Federal Reserve Bank for all SEC-registered and nonregistered banks for the period 2000 through 2005. Comparative results indicate that during the period that the Act had been in effect there is a marked negative divergence for SEC-registered banks as opposed to those banks that do not report to the SEC.
The Comparative Predictive Abilities Of Accrual Earnings And Cash Flows In Periods Of Economic Turbulence: The Case Of The IT Bubble
Authors: Waldron Marilyn A. , Jordan Charles E.
Published: February 2016

As set forth in SFAC No. 1, a primary objective of financial reporting is to provide information useful to decision makers. Predicting future cash flows represents a major goal of investors and creditors, and accrual and cash flow accounting information present two alternative factors useful in such predictions. The current research investigates the comparative abilities of accrual basis net income and historical cash flows from operations as predictors of future cash flows during both the economic boom leading up to the IT Bubble and the period of economic duress following the burst of that Bubble. Generally, results indicate that historical cash flows outperform accrual net income in predicting future cash flows during these periods of economic turbulence.  Additionally, the evidence reveals great variability in the predictive ability of accrual earnings during the time period studied, suggesting that accrual accounting estimates lose some of their precision during periods of extreme economic fluctuation.
Promotion Metrics‟ Assumptions For The Assessment And Evaluation Of Promotion Campaigns: A Framework Based On Mezirow‟s Critical Reflection
Authors: Spais George S.
Published: February 2016

The paper examined the possibility of an extension of critical reflection model’s assumptions by Mezirow, as assumptions for promotion metrics, in terms of promotion campaigns’ assessment and evaluation. A critical hermeneutics approach was adopted for the present study. Our organized literature review leaded us on an initial judgmental sample of sixty (60) published research works (selected at the first stage of the literature review), in order to be scanned and reached at one to fifty-two (52) published research works, which were processed for offering some valuable findings. Our research intention was to categorize the constructs of the following fundamental concept: “promotion metrics’ assumptions through the key features of critical reflection”. The literature review findings indeed revealed us very new constructs and established an initial understanding of the constructs and their relationship to other constructs regarding to Mezirow’s perspective of Transformative Learning Theory (TLT) regarding to the application as a framework of promotion metrcs’ assumptions in terms of a promotion campaign assessment and evaluation. Practical implications of the extension of Mezirow’s perspective of TLT are introduced for promotion managers. 
Return On Goodwill
Authors: Vance David E.
Published: February 2016

Goodwill represents value not recorded until a company is purchased by another company. The value of goodwill comes from intangibles such as location, superior market position or the skill and learning of management. Goodwill is the difference between the purchase price of a company and the fair value of its assets. The residual nature of goodwill makes measurement of its contribution to performance difficult.  Two questions flow from this. The first is whether the contribution of goodwill is measurable. The second question is whether the contribution of goodwill varies from industry to industry. One way to measure contribution is return on assets.  This study analyses 38,519 years of company operations in 48 industries and compares the return of companies with and without goodwill. For some, but not all industries, return on assets for companies with goodwill was higher that for companies without goodwill.  The contributions of this study are to demonstrate whether goodwill contributes to performance and to analyze variability of performance by industry.
DSGE Model Of A Small Open Economy: France
Authors: Arfa Nabil Ben
Published: February 2016

In this paper we asses the effects and the transmission mechanisms of domestic and external shocks (we take a productivity shock associated to an imported energy shock) on the macroeconomic variables of a small open economy, using a dynamic stochastic general equilibrium model. We estimate a DSGE model in an open economy: France. In a first step, we begin by studying the cyclical features of the French economy, those of its main trading partners and the USA; this exercise enables us to make comparisons between France and its European neighbours. Once the facts are established, we will describe our model, its main features, then we solve it, make calibration and check the effects of exogenous shocks on the economic variables through the response impulse functions and the variance decomposition. Finally, we make comparison between the model’s statistical moments of order two and those related to real facts in order to assess the validity of the model. It appears from our investigation, a significant correlation of the French cyclical characteristics with those of its neighbours. The France economy is also more vulnerable to technology shocks than to price of imported energy shocks.
Governance, Civil Conflict, And Refugee Protection In Sub-Saharan Africa: A Primer
Authors: Forster Bruce A. , Forster Jessica D.
Published: February 2016

This paper provides an introduction to the concepts of governance and state weakness, fragility or failure.  Selected indices of performance are presented with an emphasis on Sub-Saharan Africa. As noted by the 2005 UK Commission for Africa “The most extreme breakdown of governance is war.” The paper discusses the concepts and definitions of civil conflict and civil war, and the prevalence of civil war in Sub –Saharan Africa.  Among the costs of civil war are the people who are displaced due to their fear for life amidst the conflict.  If displaced persons exit the country they become refugees. The paper provides an introduction to the evolution of international humanitarian law since World War II to protect non-combatants, including refugees.
A Behavioral Approach To Stock Pricing
Authors: Paudel Jayash , Laux Judy
Published: February 2016

Recent literature in behavioral finance has contradicted the notion of efficiency of markets.  Greater emphasis on how psychological biases influence both the behavior of investors and asset prices has led to a strong debate among proponents of behavioral finance and neoclassical finance.  This has created the need to study how psychology affects financial decisions in households, markets and organizations.  This study conducts a pooled ordinary least squares (OLS) model using the fixed effects estimator to investigate the linkage between investor sentiment and stock prices for 35 firms belonging to three different industries over a time period of 56 years, from 1950 to 2005.  The findings suggest that investor sentiment does not significantly affect the stock prices in this sample.
Customized Online Promotions: Moderating Effect Of Promotion Type On Deal Value, Perceived Fairness, And Purchase Intent
Authors: Chatterjee Patrali , McGinnis John
Published: February 2016

This paper investigated whether consumers differ in their perceptions of deal value, fairness and purchase intentions when presented with individually targeted (or customized) promotions versus universal promotions offered to all consumers at online retail websites. It was found that customized offers lead to significantly higher purchase intent compared to universal offers. Perceived fairness differed significantly across promotion types (free shipping, $ off and temporary reduced price) based on whether they were customized to the consumer or offered universally. Implications for designing customized online promotions are offered.
The (Non)Performance Of Kiplinger‟s Expert Recommendations
Authors: Borghesi Richard , Pencek Thomas
Published: February 2016

We examine the performance of 1,572 stock recommendations published over the past 10 years by Kiplinger’s Personal Finance magazine.  Kiplinger’s picks earned a risk-adjusted mean abnormal monthly return of -2.58% over the 6-month post-pick period.  Our analysis indicates that the recommended firms were larger than average, and that the non-risk-adjusted returns of these stocks exceeded market returns prior to being selected.  The poor post-pick performance cannot be attributed to a small subset of stocks or to a particular time frame.  Instead, the experts appear to significantly underperform throughout much of the period examined.  Our findings suggest that the experts of some popular investment periodicals may bias their analyses in favor of hot stocks to appeal to the interests of naïve subscribers.
Oil Price And Stock Market Linkages In A Small And Oil Dependent Economy: The Case Of Greece
Authors: Constantinos Katrakilidis , Ektor Lake Andreas , Dimitrios Mardas
Published: February 2016

We investigate the dynamic linkages between oil prices and the stock market behaviour in a small and oil dependent economy. Particularly, we analyse empirically the relationships among stock market returns, the volatility of the stock market index, the oil price and the volatility of oil price in Greece. We employ VAR modelling in conjunction with Granger-causality tests. Contrary to the majority of the internationally reported evidence, our findings show the existence of significant positive causal effects from oil price changes on the stock market.
A Fraud Audit: Do You Need One?
Authors: Buckhoff Thomas , Higgins Leslee , Sinclair Debra
Published: February 2016

This paper differentiates between a fraud audit and a financial statement audit and suggests that small businesses usually need a fraud audit although they engage a financial statement audit.  A CPA trained in fraud examination and forensic accounting should conduct the fraud audit.
The Home Mortgage Disclosure Act And Subprime Lending
Authors: Gupta Rakesh K. , Sharma Hari , Mitchem Cheryl E.
Published: February 2016

This research paper focuses on the analysis of subprime lending activities in specific geographic area in the light of reporting requirements of the Home Mortgage Disclosure Act (HMDA). This cross sectional study has focused on the detailed analysis of mortgage data for the selected Metropolitan Statistical Areas (MSA) from a socio-economic perspective. The objective of this research is to assess the impact of predatory lending in selected geographic regions. Another dimension of the research focuses on the role of mortgage lending from a securitization point of view. The study reveals that private securitization (PSEC) mortgages grew dramatically not only by the number of loans but also significantly by the dollar amount due to subprime lending activities during the period of study. The growth in PSEC loans affected mortgage lending in several ways, such as, increasing subprime lending, boosting home prices, and undermining mortgage industry regulations. Additionally, Government-Sponsored Enterprises (GSEs) loan originations also increased the number of subprime loans because of relaxed reporting requirements which contributed to increased delinquencies and foreclosures for conforming loans. The study further reveals that HMDA reporting requirements allowed the mortgage industry to conceal the loans that had spreads above the prime rate of up to 3.5 points for Fixed Rate Mortgage or 5 points for Adjustable Rate Mortgage (ARM). The study of mortgage lending programs, products, and regulatory laws have also been examined to assess the impact of predatory lending on homeownership.
Accounting Profession Is Ready For International Financial Reporting Standards: Financial Statements Comparable Enough
Authors: Gray Dahli
Published: February 2016

Comparative analysis of three matched pairs of corporations revealed that there are more similarities than differences where one used IFRS and the other used US GAAP. "mso-spacerun: yes;"Since US GAAP focuses on usefulness of information rather than uniform reporting, the use of IFRS is just another variation on a theme that has existed for decades. The Big 4 accounting firms provide guidance and training for practitioners, professors and students that ease the road to understanding.
Strategic Choices: The Case Of Management Accounting System
Authors: AL-Hazmi Muhammad H.
Published: February 2016

While the popularity of strategic management accounting (SMA) has been growing over the last decade, there is still not an extensive literature, which directly addresses the relationship between management accounting system and strategy. The Management Accounting Research (MAR) constructed a special issue on SMA and concluded that (1) there were less than 20 key articles on this subject in the mainstream academic journals; (2) there was a lack of  comprehensive conceptual framework for SMA; and (3) there was limited empirical evidence. To explore this and related issues, a study of the relative significance of the use of cost information for strategic considerations in relation to two levels of competitive analysis - corporate competitive intelligent information, and business competitive intelligent information - was undertaken. The findings of the study relate managers’ perceptions of two dimensions of their environmental changes (stability and certainty) to the two levels of competitive analysis. In order to gain a wider understanding of this relationship, a random sample of 110 large Saudi companies were selected and data collected from senior managers. The results showed that (1) the perceptions of managers differ between their environmental certainty and stability; (2) the relative significance accorded to business competitive intelligent information was positively associated with rising instability; (3) the use of corporate competitive intelligent information was a common practice. An interpretation of the results is that market instability stimulates strategic movement and cost information is being used in management thinking to support strategic development in meeting competitive pressures and in restructuring and reconfiguration of business strategy.
Retirement Savings Of Private And Public Sector Employees: A Comparative Study
Authors: Chatterjee Swarn
Published: February 2016

This study examines the retirement plan participation and savings for United States government employees using the Panel Study of Income Dynamics data set. The findings of this study indicate that plan participation increases with age, income and educational attainment. More Government employees are enrolled in defined benefit plans than non Government employees. Also, those government employees who participate in defined contribution plans hold greater amounts within their plans and make greater contributions into their retirement plans than the non government employees. Minorities and employees with lower income are less likely to participate in the Individual Retirement Accounts, while those with higher educational attainment are more likely to participate.
Some Key Evolutionary Changes In Global Economic Development: A Historical Perspective
Authors: Kondonassis Alex J.
Published: February 2016

Our knowledge regarding global economic development has increased as a result of three major changes: Changes in measuring economic development and particularly the introduction of the U.N. human development index; The recognition that non-economic or institutional factors are important in explaining development; the awareness that policy making has experienced “swing of the pendulum” whereby a policy position is followed by another with the end result a compromise or eclecticism.  
Vietnam Outsourcing Risks Management
Authors: Lam Than
Published: February 2016

The exploratory qualitative research study relied on 32 available literatures from 1983 to 2008 to explore the outsourcing risk to the supply chain management infrastructure within the context of an alliance relationship in which the multinational corporation’s manufacturing is outsourced to Vietnam business partners. The paper attempted to define the impact of the Foreign Corrupt Practices Act (FCPA) legislation governing the United States’ Multi National Corporations (MNC), roles of culture, ethicality, and social responsibility principles in assessing and mitigating global risks. The paper discussed ethical leadership behavior in risk management. In addition, the paper presented strategies to integrate a relational exchange model and Cost-of-Risk Analysis (CORA) two-step process for cost-benefit evaluation for mitigating global supply chain management risks. The paper also highlighted financial risk management strategies using a net present value (NPV) of at least zero to embark on expenditure streams. Recommendations, summary and conclusion were also presented.
An Investigation Into Alternative Television Viewership Habits Of College Students
Authors: Damratoski Katie J. , Field April R. , Mizell Katie N. , Budden Michael C.
Published: February 2016

Television viewership through the use of digital video recorders (DVRs) and the Internet are affecting viewership statistics. The utilization of the Internet by students to view television programs mandates that future marketing efforts be directed more toward the Internet instead of traditional television advertisements.  Research focused on the television viewing habits of college students, current challenges in television advertising and marketing and the increasing use of DVRs and the Internet are investigated.
Off-Shoring And Outsourcing
Authors: Kahai Simran K. , Sara Tejinder S. , Kahai Paramjit S.
Published: February 2016

Because of a dramatic decrease in transportation and telecommunication costs, the digital revolution, and the forces of globalization, off-shoring has accelerated in the past few years.  While there is little doubt that off-shoring has brought hardship to thousands of workers and communities, there is also little doubt that it has benefited many worker and communities.  Today, off-shoring continues to generate considerable debate on the long-run impact. Also, there is considerable misunderstanding about this phenomenon.  In this paper, the authors make a distinction among the terms outsourcing, offshore outsourcing, and off-shoring.  Off-shoring has been facilitated by a deconstruction of the value chain, allowing firms to evaluate all activities as potential candidates for being performed outside the firm.  Reasons for the acceleration of off-shoring are outlined.  An explanation of why off-shoring is not a villain for the developed economies is also provided.
Corporate Governance Changes Following Earnings Restatements: A Research Tool
Authors: Rotenstein Aliza
Published: February 2016

This study develops a research model to investigate whether firms that restate previously released financial reports implement subsequent changes in internal governance in an effort to correct underlying problems that contributed to the need for restatement in the first place. In doing so, various likely responses to financial reporting problems, including board, audit, and management changes, are indexed into a single measure to assess the joint strength of multiple corporate governance attributes within a firm. The paper demonstrates how a comparison of the Index before and after a restatement may be used to relate the nature and magnitude of a restatement with the likelihood of corporate governance changes in the aftermath of restatement. Further, the paper classifies sample restatements more finely on the basis of presence of fraud, prompter, magnitude, severity, and reason for the restatement. This more detailed classification recognizes that responses to restatements likely relate to particular characteristics of the restatement and the restatement firm. To illustrate the use of the Index in the research model, a sample hypothesis is examined, with findings showing a statistically significant association between restatements involving fraud and subsequent corporate governance changes.
Equity Prices And Inflation In South Africa: An Empirical Analysis
Authors: Bonga-Bonga Lumengo
Published: February 2016

This paper attempts to assess the indirect relationship between equity prices and inflation in South Africa in order to infer the possible reaction of the monetary authority in the face of excessive changes in equity price or bubble. To this end, use is made of a system equation, rather than a single equation, in the context of cointegrating VAR with over-identifying restrictions. The paper decomposes actual inflation into expected and unexpected components and shows that the two components react differently to the changes in equity prices. Nonetheless, given a weak reaction of expected inflation to the change in equity prices and the fact that monetary authority behaviour is forward-looking in South Africa, the paper concludes that equity prices should not form part of the monetary authority reaction function in South Africa.
Using Tools From Strategic Management To Help Micro-Entrepreneurs In Developing Countries Adapt To A Dynamic And Changing Business Environment
Authors: Gosenpud Jerry , Vanevenhoven Jeff
Published: February 2016

Micro-entrepreneur industriousness is a significant reason for the unprecedented economic activity in the developing world over the last 20 years. Yet as the business environment in developing countries modernizes, micro-enterprises are increasingly threatened. This paper takes a strategic management perspective and argues that micro-entrepreneurs need to do four things to better cope with this changing landscape. To better understand their new complex and turbulent environment they need to 1) perform an external environment analysis, 2) perform an internal environmental analysis, 3) plan, and 4) network.
 
The Market For The "Not-So-Rare" Rare Earth Elements
Authors: Giacalone Joseph A.
Published: February 2016

This paper examines the market for the Rare earth elements. These are comprised of 17 elements of the periodic table which include 15 elements from the group known as lanthanides and two additional elements known as scandium and yttrium. The metals are often found combined together in ores and must be separated into its individual elements. The fact is that rare earth metals are not rare in terms of the quantity present in the earths crust. However, the metals are less concentrated than other more common metals and the extraction and separation processes necessitate high research and development costs and large capital outlays.The various applications of rare earth elements can be broadly classified into four major categories, namely: High Technology Consumer Products, Environmentally Friendly Products, Industrial and Medical Devices, and National Defense Systems. The demand for such high technology products is rapidly increasing causing a simultaneous upsurge in the demand for rare earth metals as well.On the supply side, China dominates the production rare earth elements, mining approximately 97% of total world production. Consequently, most countries must rely on imports of these REEs to facilitate production of the various systems and products that are dependent on the rare earth metals as raw materials. This near-monopoly imposes several supply-chain risks on the importing nations which are exploring ways to mitigate the potential economic harm associated with these risks.
Comparative Study In The Bibiani, Bolgatanga, Dunkwa And Tarkwa Mining Districts Of The Minerals Commission Of Ghana
Authors: Opoku-Antwi George Lord , Amofah Kwaku , Nyamaah-Koffuor Kofi
Published: February 2016

This paper aims to provide a comparative study on the Ghanaian small-scale gold mining industry in the Bibiani, Bolgatanga, Dunkwa and Tarkwa Districts of the Minerals Commission of Ghana. Variations in production, employment, number of licensed operators/concessions were the main focus of the paper. A two-way analysis of variance (ANOVA) was used to 1) test for the means of equality for the period 2005 to 2008 in order to find the column effect and 2) test for the means of equality between the mining districts (distance) to help find the column effect. It then looks at the structure-conduct-performance to explain the differences in the mining districts. The paper concludes that even though the small-scale mining sector in Ghana is beset with a number of challenges, it should be recognised as a significant generator of rural livelihoods that has the potential to alleviate poverty and be a tool for sustainable development. Assistance based on an integrated approach that considers operational, financial, organisational, social, economic, legal, technical and environmental issues should be offered to enhance small-scale gold mining operations in Ghana.
Energy Consumption And Economic Growth In China: New Evidence From The Co-Integrated Panel VAR Model
Authors: Chen Shuai
Published: February 2016

This study is conducted to explore the relationship between energy consumption and economic growth in China over the period 1995-2010 using the panel time-series techniques under a multivariate framework. The results reveal that there are long-run co-integration relationship among variables real GDP, energy consumption, capital formation and labor force. Furthermore, based on the panel VEC model, there is bidirectional causality between economic growth and energy consumption, which is consistent with the growth hypothesis in terms of the energy consumption-growth nexus. The unidirectional causality from capital formation to energy consumption reveals that energy consumption cannot affect economic growth through capital formation. Additionally, real GDP, energy consumption, capital formation and labor force each respond to short-run deviations from long-run equilibrium with a slow adjustment speed. Finally, by estimating the panel VAR model, it is found that the responses of real GDP to a shock of energy consumption are negative, whereas the shock of real GDP changes is positive with most of the energy consumption response being absorbed during the six years. By variance decompositions derived from the orthogonalized impulse-response coefficient matrices, a shock in the energy consumption takes the biggest effect on real GDP in both short-run and long-run.
U.S. Energy Independence With Lower Emissions
Authors: Williams Wes , Maniam Balasundram , Subramaniam Geetha
Published: February 2016

Energy Independence as well as concern for carbon emissions are policy topics that have been frequently discussed on the public stage. This paper analyzes the possibility of creating an energy portfolio that will achieve energy independence while reducing carbon emissions and how that portfolio is likely to change over time. Domestic oil, hydrogen fuels, domestic natural gas, hydropower, wind power, solar power, and nuclear power are the fuels discussed to make up the energy portfolio that will eliminate the United States dependence on foreign oil while reducing the carbon emissions generated during the production of energy.
Multiplicative Spatio-Temporal Models for Remotely Sensed Normalized Difference Vegetation Index Data
Authors: Clements Nicolle , Sarkar Sanat , Wei William
Published: February 2016

Vegetation forecasting is closely tied to many important international concerns, including: monitoring the impacts of global climate change and energy usage, managing the consumption of natural resources, predicting the spread of invasive species, and protecting endangered species. In light of these issues, this article develops vegetation forecasting models for normalized difference vegetation index (NDVI) data recorded by remote sensing via satellites in East Africa. Spatio-temporal auto-regressive moving average (STARMA) is a class of models that can be used in monitoring and forecasting, but it must be modified for highly seasonal processes with temporal trends. We propose to use multiplicative STARMA models to estimate and forecast NDVI values for sub-regions that have previously been detected to have statistically significant temporal trends. For illustration, we select a few East African sub-region’s NDVI series to apply the proposed models and demonstrate the advantages over traditional modeling techniques.
Exploring Israeli Venture Capital Investing In Renewable Energy
Authors: Blum David A.
Published: February 2016

Israel’s venture capital market is one of the largest in terms of capital investing in the world.  However, in 2014, 5 of 83 independent venture capital firms located in Israel invested in renewable energy portfolio companies. The result of investing in few renewable energy firms in Israel is a continued reliance on imported fossil fuels from geographically distant nations. The importation of fossil fuels creates an added security risk in an already hostile political environment. The gap in research addressed in this paper explored factors for the small number of renewable energy firms receiving venture capital funding in Israel. The research question guiding this study was what are the factors for the small number of renewable energy firms receiving funding in Israel. The lack of renewable energy firm funding appears to be as a result of three factors. First is low return on investment. Second is regulatory uncertainty from the Israeli government. Third is the lack of knowledge of renewable energy by independent venture capitalists.
Creating A Cause For Sustainability: A Practice-Based Research Project For Undergraduate Students
Authors: Doval Christopher N. , Caro Cary A.
Published: February 2016

Corporate social responsibility (CSR) and corporate sustainability (CS) practices have an influence on the image and profitability of any business. As business schools attempt to mold future leaders, schools have found exploring the topic of CSR and CS into their business curriculum. While many theoretical approaches have been taken, there are few examples of practical projects that professors can utilize in the classroom. Here, the authors present an example of a semester-long project that forces students to examine and reflect upon their own personal consumption habits and create a personal CSR report. The authors describe the project, expected outcomes, and the narratives that are created in the project and the course. Finally, the paper examines the importance of personal reflection on the development of personal cause and responsibility, which can help to develop future socially responsible leaders.
Sustainability And Integrated Reporting In The South African Corporate Sector
Authors: Van Zyl Anria S.
Published: February 2016

This article aims to determine if the adoption of Integrated Reporting by large private sector companies in South Africa has led to an improvement in the quality of sustainability-related information disclosed. This was done in two stages. The first stage comprised a literature review with the aim to develop an evaluation matrix that can be used to access the quality of the sustainability-related information being disclosed within Integrated Reports. During the second stage, empirical evidence was obtained by assessing the sustainability reporting disclosures made by the best performers according to the Johannesburg Stock Exchange (JSE) Sustainability Index. The Integrated Reporting process is still in the development phase with many companies only now developing methodologies to measure their various impacts. The study found that, although many companies are attempting or claiming to be creating Integrated Reports, the level of integration is still very low. Few companies have incorporated or understood the importance of environmental and social sustainability in achieving long-term success. It is hoped that this research will provide an evaluation matrix to assess the information disclosed within Integrated Reports as well as provide insights into the implementation challenges experienced by the early adopters in South Africa.
Corporate Social Responsibility And Sustainability Responsiveness In Business Schools: A Classification Scheme
Authors: Peters Richard , Caro Cary A.
Published: February 2016

This paper adopts a neo-institutional perspective to help classify and explain the heterogeneity among Corporate Responsibility and Sustainability (CSRS) programs in universities. Four specific types of programs: 1) ignorer, 2) initiator, 3) imitator, and 4) innovator are identified and discussed with respect to their antecedents and potential outcomes. By considering internal and external forces simultaneously we delineate the motivation for CSRS program variety. A major perspective is that all institutions cannot prioritize CSRS education and that this decision is not based solely on internal limitations but also external realities.