bluuebunny/crossref_metadata_2025 huggingface dataset:
Advising the ‘persuadable cluster’ of Hungarian companies on talent management
Authors: Czeglédi Csilla , Marosné Kuna Zsuzsanna , Hajós László
Published: March 2016

Based on the Hungarian data of the Visegrad funded project titled „Integrated talent management-challenge and future for organisations in Visegrad countries” (Visegrad Fund / number 21220142), a pilot cluster analysis was conducted to find out the main characteristics of talent management. The recent appreciation of the human capital has contributed to the application of new management procedures in the HR practice. One of them is talent management whose aim is to find and recruit talented people as well as to develop and retain those talents who have already been employed. We have found that there is a close relationship between the economic situation of the Hungarian companies and their talent management. Our paper also aimed at providing practical advice to Hungarian companies, which are open for talent management.
The Value-Relevance Of Internet Web Traffic And Revenue On Top Arab Banks Comparative Efficiency Performances
Authors: Budd Bruce Q. , Budd D. B.
Published: March 2016

The comparative efficiency performances of the top Middle East Arab banks are measured using Data Envelopment Analysis (DEA) and Principal Components Factor Analysis (PCFA).  Cross-sectional data are used from Bankscope and the recently constructed and publically available web metrics, Alex.com, for 2008.   This paper identifies the ‘best practices’ of banks associated with measures of internet web traffic and revenue outputs.  Results identify large disparities between Arab banks’ comparative efficiency performances.  The highest technically efficient scoring banks were not necessarily the larger banks and banks that were efficient were not necessarily profitable.  No significant relationship was detected between large banks that are efficient at generating website visits and those that are efficient at generating revenues.  Smaller banks revealed more evidence of comparative efficiency performance towards generating website traffic output.  From a policy perspective, this study highlights the importance of encouraging increased efficiency throughout the banking industry in the Arab world, particularly in the area of internet banking.  It further reveals the state of some electronic data availability and transparency in the MENA region.
Establishing The Link Between Money Laundering And Tax Evasion
Authors: Storm Ansia
Published: March 2016

No clear link has yet been made between tax evasion and money laundering although many (or all) of the professionals in this field may have already assumed the relation. The aim of the research that was conducted for the purposes of this article was to explore whether there is a clear link between tax evasion and money laundering. This was done by studying the relevant literature available on both subjects. The findings, that there is a clear link between these two offences, were confirmed not only by analyzing definitions but also, and most importantly, by an overview of court cases and the judgments made in these court cases. In theory, the results have proven that one cannot look at money laundering without considering tax evasion as well but tax evasion does not necessarily constitute the act of money laundering. This is of value to the individuals and organizations working in the field of taxation and organized crime, because when prosecuting a perpetrator on a count of money laundering, by adding the charge of tax evasion to his or her charge sheet, it can strengthen the case against the accused.
Why Perspective Matters In Health Outcomes Research Analyses
Authors: Polimeni John M. , Vichansavakul Kittaya , Iorgulescu Raluca I. , Chandrasekara Ray
Published: March 2016

Health outcomes research typically uses cost-effectiveness or cost-utility analysis. These approaches take a narrow perspective of the individual effects, typically from the payer or the provider point-of-view. However, using these narrow perspectives misses macro-level, or societal level, benefits and costs that could significantly alter whether an intervention is considered beneficial or cost-effective. The societal perspective accounts for all the effects impacting patients, their families, the public, and government expenditures for a healthcare intervention. Such a perspective is vital for healthcare interventions for illnesses where morbidity and long absences from work are probable. A cost-benefit analysis would account for all the societal benefits and costs, allowing policy-makers to observe an outcomes analysis more closely reflective of the real impacts. This paper clearly presents why a societal perspective using cost-benefit analysis should be the preferred method of health outcomes research. An example of breast cancer interventions is used to illustrate this point.
Why It Matters For Collegial Leaders To Have A Binocular Vision
Authors: Singh Prakash
Published: March 2016

The question that is addressed in this article is whether it matters for collegial leaders to have a binocular vision. Imagine looking through a pair of binoculars as a metaphor for leadership. One lens of the binoculars represents cognitive abilities (IQ) and technical skills while the other represents emotional intelligence (EI). Monocular vision, using only IQ produces a very narrow view of the horizon. Binocular vision, combining IQ with EI, produces much clearer, broader and far reaching views. Exemplary collegial leaders use both lenses to inspire the best from their people and sustain high performance from individuals, teams and organizations. EI is not in opposition to IQ but it is an extension of the humans potential to succeed in a people-orientated environment. Traditional cognitive intelligence (IQ) is combined with non-cognitive intelligence (EI) to help leaders perform at their best and inspire their followers to be successful and happy. This exploratory research suggests that the complexities of organizations require a new focus on collegial leadership that extends beyond possessing cognitive abilities alone. The findings strongly suggest that a significant relationship exists between the development of a collegial environment that is identified by collaborative teamwork, shared decision-making, shared core values, a shared vision, shared leadership opportunities and meaningful empowerment, and a collegial leaders EI. The respondents support for a leadership style that offers them the opportunity to be actively involved in creative decision-making strategies rather than be subjected to an autocratic style of control was clearly indicated in their responses.
Residential Housing Investment In Spain
Authors: Kienle Stephan
Published: March 2016

Over the last decade, the Spanish housing market has gained a lot of attention due to its dynamics in house prices and residential investments. Our contribution provides a general framework based on the classical user cost approach. We take an equity constraint explicitly into account when modeling a long-term equilibrium. Against the background of theoretical implications we estimate a vector error correction model and find some evidence for the existence of such a financial constraint.
Perceived Rate Of Returns To Education: A UAE Perspective
Authors: Abraham Jaya , Iyanna Shilpa , Sarr Makhtar
Published: March 2016

The measurement of rate of returns is central to the profitability analysis of educational investments. Literature suggests that the ex-ante approach of measuring the perceptions of the beneficiaries is a reliable indicator of returns to education. The present study estimates the perceived rate of returns to higher education for undergraduate students in UAE. Respondents were asked to provide estimates of future expected earnings with and without higher education. The study indicates that the Emiratis and non-Emirati students differ significantly in the estimates of perceived rate of returns. The findings of this study offer strategic insights on the economic considerations in the higher education enrollment process in the UAE. It also emphasizes the need for better counseling among the Emirati school students regarding the importance of higher education and return to higher education.
Are Higher Education Institutions Positioned To Reap The Dividends Of Open Education Resources? The Case Of Durban University Of Technology
Authors: Van der Merwe A. D.
Published: March 2016

The potential benefits of open education resources (OERs) are well documented in the literature. These include cheaper education, improved equity in respect of educational prospects, greater access to higher education opportunities for non-traditional learners, encouraging new modes of collaborative learning and leveraging public funds by sharing knowledge. So compelling are these advantages that leading universities globally are currently experimenting with new business models calibrated to extract value from educational offerings that, increasingly, will be expected to include free content. In spite of the obvious merits of OERs, the open education movement faces challenges which are rooted significantly in educators' perceptions of these resources. This descriptive case study sought to examine the attitudes Durban University of Technology (DUT) faculty have towards OERs with the aim of gauging their capacity to be actively involved as developers and users of these materials. The study found that in spite of respondents' recognition of the advantages of OERs and even a degree of superficial employment of these instructional aids, there appears to be no real open education ethos at the institution. Evidence of this includes the relatively low level of sharing of content amongst faculty and the consensus of respondents that there is no institutional support for OER initiatives. The study concludes that for the university to retain its relevance in an evolving educational landscape, it should create a framework that will not only create space for OER projects but should also address the very human need for recognition and acknowledgement that developers of free and open content have.
Danger Zones Dead Ahead For The U.S. And China: Prospects And Challenges
Authors: McCord Linnea B. , Young Terry , Crawford Peggy J.
Published: March 2016

To be successful and remain independent, every country must create a prosperous economy, keep peace among its people, maintain political stability, and ensure the security of the people and the country from internal and external threats. Doing all four at the same time is never easy and in a time of economic volatility, change, and uncertainty juggling all four becomes more difficult. This is when countries enter the danger zone where hidden cracks and fissures in a countrys organization and structure could become destabilizing. In this paper we will compare the challenges and prospects for the United States and China as both countries enter the danger zone. The purpose of this paper is to examine how each countrys unique attributes are likely to impact its ability to succeed. We will examine their political, economic and legal systems to determine the strengths and weaknesses of each. We will also assess the role of corruption in each society. Both the United States and China have serious economic, social, political and security issues on the horizon. To solve the problems will require serious sacrifices and pain for a large portion of the populations in both countries. Which form of government will best be able to adapt quickly to the constantly changing environment? Will a serious economic slowdown topple the Communist dictatorship in China? Will gridlock and distrust in the U.S. prevent Americans from adapting fast enough to make the necessary changes in time to save its financial system and economy? Time will tell.
Capacity Building To Leadership Development: An Experiential Journey
Authors: Breytenbach Chantal , Hughes Suzaan
Published: March 2016

In this article, the researchers discuss how they utilised experiential learning techniques to transform a tutor training program into a leadership development opportunity. Through active research and narrative analysis, the researchers were able to reflect on how the tutor training program they initially developed from an operational need evolved into a leadership development program aimed at encouraging participants to reflect on their own teaching practice and develop an individual teaching philosophy that has its foundations in constructivist learning and experiential learning. The particular leadership skills that the participants developed during the training include planning and strategic thinking, organisational skills, collaboration and team work, effective communication and listening skills, emotional intelligence, and the appropriate display of emotional labour cues while facilitating tutorials. True leadership requires that the leader sets an example to followers. A follower will buy into an idea if the leader can inspire the follower to believe what he believes.
Service System Interactions At Tertiary Institutions: A South African Perspective
Authors: Green Paul
Published: March 2016

A university as an institution has a distinct identity and has a meaningful role to play in society. A university in its entirety is a system comprising of many sub-systems. The universitys stakeholders represent various systems, viz. students, parents, government, donors, public, etc. It is the interaction of these systems that is critical for the successful measure of service quality. This paper focusses on three objectives. Firstly, the notion of service and the classification of education as a service are discussed. Secondly, service as a system is discussed, with particular reference to the Work System Framework (WSF) and the application thereof to a university. Thirdly, the Interact-Serve-Propose-Agree-Realize (ISPAR) Model, and application of the ISPAR model to a university, are reported. It is evident from this paper that service is a major factor in tertiary institutions, and specifically in South Africa, service cannot be overlooked.
Sight: The Last Bastion Of The Brick And Morter Retailer To Survive?
Authors: Nell Corinne , Wiid Jan
Published: March 2016

The physical brick and mortar retail environment has been the bastion of survival for retailers over the years. With the developments in technology and the changing shopping patterns of consumers, apparel retailers are facing competition from alternative channels, such as the internet where consumers browse, compare and ultimately purchase products. Faced with this evolution, it has become critical for brick and mortar retailers to reconsider the principles and practices of in-store consumer engagement. They need to understand how their physical in-store environments can be used optimally in order to ensure sales optimisation, consumer satisfaction and sustainable profitability.This state of affairs has led to this study, which focuses on sight and its influence on consumers buying behaviour. The primary research question that was posed in this study was to explore the influence of sight on consumers buying behaviour in apparel retail stores. The type of research design used in this study was exploratory in nature, making use of a qualitative approach and a communicative technique of focus group interviews and nave sketches. The data gathered was analysed by means of Teschs inductive descriptive coding technique, better known as thematic analysis. It was found that sight has the ability to influence consumers in either a subconscious or a conscious way. This has a direct influence on the amount of time that consumers will spend in-store and ultimately influence their buying decisions and behaviour, either positively or negatively.
Impacts Of The 2008 Financial Crisis On South American Equity Markets
Authors: Hwang Jae-Kwang , Dimkpah Young , Ogwu Alex I.
Published: March 2016

This paper examines the transmission of the 2008 US financial crisis to four Latin American stock markets using daily stock returns from 2006 to 2009, analyzing returns before and during the 2008 financial crisis. The empirical evidence presents a financial integration by showing persistently higher volatility during the crisis period. This indicates that most of the stock markets in this study were severely hit by the US financial crisis. However, the evidence shows that Chile was less impacted by the 2008 financial crisis. The results here could be useful in international portfolio diversification decision-making in South American region.
Strategic Planning And Its Relationship With Business Performance Among Small And Medium Enterprises In South Africa
Authors: Sandada Maxwell , Pooe David , Dhurup Manilall
Published: March 2016

Strategic planning is a business tool that small and medium businesses need in todays dynamic and highly competitive business environment. It has a potential to cushion these enterprises from such unpredictable harsh business conditions. The purpose of this paper was to establish the relationship between strategic planning practices and business performance among SMEs in the Gauteng province of South Africa. Data were analysed from 200 useable questionnaires that were distributed to SME owners/managers. Factor analysis, correlations, and regression techniques were used in order to extract the dimensions of strategic planning and their relationships with business performance. Environmental scanning, business mission and vision, formality of strategic plans, evaluation and control, informing sourcing, strategy implementation incentives, employee participation, and time horizons emerged as strategic planning dimensions. The results confirm that strategic planning has a positive association and predictive relationship with the performance of SMEs. The results of this study can serve as a guide to SME owners and managers to properly implement strategic planning practices which will enable them to propel and sustain their businesses in turbulent and uncertain business environments.
The Impact Of Carbon Tax On Financial And Sustainability Reporting In South Africa: The Case Of Motor Vehicle Manufactures
Authors: Pillay Suren , Buys Pieter
Published: March 2016

Sustainability reporting in South Africa has emerged strongly in the last decade with evidence suggesting that corporate social responsibility assurance prevalence is growing among the top 100 publicly-listed companies. Multinational motor vehicle manufacturers will have to comply with all sustainable reporting requirements that incorporate South African motor vehicle subsidiary company results. Carbon excise tax was implemented on all passenger motor vehicles on 1 September, 2010 in South Africa. From an accounting perspective, the adequacy of carbon tax recognition and disclosures has not been assessed in South Africa. This paper examines the adequacy of carbon tax accounting disclosures by local motor vehicle manufacturers that are subject to such a tax as well as the compliance level of the related multinational motor vehicle holding companies in terms of sustainable reporting.
Trade-Based Manipulation Or Speculative Bubble: A Case Study
Authors: Zhao Xiaofeng
Published: March 2016

This paper examines the unusual and puzzling stock price performance of USEC Inc. during July 2013. The stock price surged as much as ten times during merely sixteen trading days without apparent value-changing information being released. Four possible reasons are analyzed - mean reversion, information-based manipulation, speculative bubble, and trade-based manipulation. Trade-based manipulation and speculative bubble resulting from investors overconfidence seem to be more plausible and better explain the dramatic stock price changes.
Experiential Marketing On Brand Advocacy: A Mixed-Method Approach On Global Apple Product Users
Authors: Machado Ricardo , Cant Michael C. , Seaborne Helen
Published: March 2016

Traditionally, marketing was about delivering the right product to the consumer at the right place and set at the right price. In recent years, experiential marketing has increased in popularity among companies that aim at delivering holistic experiences to be enjoyed by their consumers. With the technology explosion and the level of development the past number of years, marketers have become more and more focussed on different ways and methods to reach consumers. The use of experiential marketing as a means of getting consumer buy-in and attention is gaining in momentum - with Apple leading the way. This study made use of a mixed-method approach to determine the relationship between experiential marketing and brand advocacy through brand loyalty. Qualitative research was utilised to deduce themes for brand advocacy for Apple, which was incorporated into the quantitative research in the form of a web-based questionnaire completed by consumers of Apple products. Apple consumers found the experiential marketing efforts by Apple to have an influence on their feeling of loyalty toward the brand. As that feeling of loyalty increased, these consumers displayed a high tendency toward becoming brand advocates for Apple.
Internal Determinants Of Bank Profitability In South Africa: Does Bank Efficiency Matter?
Authors: Maredza Andrew
Published: March 2016

In a study conducted by Ncube (2009) to evaluate bank cost and profit efficiency, it was established that South African banks were more efficient at managing costs than generating profits. In this paper, the aim is to complement this particular work by exploring the internal determinants of bank profitability but with more focus on the impact of bank efficiency. Applying a two step-methodology framework to a panel of four small banks and four large banks for the period 2005-2011, total factor productivity efficiency (TFPE) scores were generated using the DEA methodology. Within the first stage, the intermediation approach was followed in which bank inputs included total operating expenses, labour, fixed assets, and total deposits while interest income, non-interest income and gross loans were considered as output variables. Each bank`s efficiency score for each of the periods was then evaluated based on its distance from the constructed efficiency frontier. In the second stage analysis, the Generalised Least Squares Fixed Effects Model was then performed to examine the impact of TFPE among other internal determinant factors on bank profitability indicators, specifically return on average assets (ROAA) and net interest margin (NIM). The obtained empirical findings showed that high total factor productivity efficiency and capital adequacy lead to higher profitability, while high cost inefficiency, diversification activities, large bank size, and high credit risk leads to lower profitability. Of great importance was that both models confirmed the positive role of attaining efficiency as an important driver of profitability among banks.
Disabled Child Expense And The South African Revenue Service
Authors: Coetzee Liza (ESM) , Stiglingh Madeleine
Published: March 2016

As from the 2010 year of assessment, a taxpayer-parent caring for a disabled child can only deduct an expense necessarily incurred and paid in consequence of the childs disability, if it also appears on the South African Revenue Services prescribed list of disability expenses. The aim of the research was to evaluate the completeness of this list. A questionnaire was developed to be used for semi-structured interviews with 20 parents of severely disabled children. These interviews provided real-life examples of expenses which do not appear on the list, but which seem to be necessarily incurred and paid in consequence of the relevant childs disability. It was found that the South African Revenue Service should reconsider the completeness and clarity of the list from the perspective of a parent caring for a severely disabled child.
Are Customers Satisfied With Healthier Food Options At South African Fast-Food Outlets?
Authors: Cant Michael C. , Machado Ricardo , Gopaul Melanie
Published: March 2016

Fast-food consumption has been a staple for many people; however, due to rising health concerns, there has been an increasing interest in the consumption of healthier food both in South Africa and elsewhere. Many consumers are demanding better quality foods that offer nutritional benefits. This global trend has led to fast-food outlets adding healthier food options to their menus. Limited literature exists on customer satisfaction with regards to the food quality of these healthier food options. Therefore, the purpose of this article is to determine the level of customer satisfaction with the food quality of healthier food options available at fast-food outlets in South Africa. The study followed a mixed method approach, whereby a self-administered questionnaire was distributed to students at a residential South African University. The results indicate that South African consumers are highly satisfied with the food quality of the healthier food options at fast-food outlets.
An Investigation Into The Demand For Broad Money In South Africa
Authors: Simawu Moreblessing , Mlambo Courage , Murwirapachena Genius
Published: March 2016

A stable money demand function plays a vital role in the planning and implementation of monetary policy. With the use of Johansen co-integration and error correction model estimates, this study examines the existence of a stable long-run relationship between real broad money demand ( RM3) and its explanatory variables in South Africa for the period 1990-2009. In contrast to previous analyses, this study augments the co-integration and vector autoregression (VAR) analysis with impulse response and variance decomposition analyses to provide robust long-run effects and short-run dynamic effects on the real money demand. In addition, this study introduces a foreign interest rate to capture the impact of capital mobility on money demand in South Africa. Results from the Johansen test suggest that real broad money demand (RM3) and its all explanatory variables are cointegrated.
Co-Creation Of Value In Business-To-Business Services
Authors: Watanabe Yoshiaki
Published: March 2016

Although marketing researchers pay increasing attention to the co-creation of value, switching costs and customer share, not much is known about their interrelationships. This study extracts prior research by developing a conceptual framework linking all of these constructs in the business-to-business (BtoB) service setting, including the detailed examination of the process of co-creation of value. On the basis of the achievements in services marketing and relationship marketing, this study hypothesises that co-creation of value mediates switching costs and that indirect customer values and co-creation of value are positively related to customer share. The author tests the hypotheses on data obtained from corporate managers in charge of their banking relationship. The results of the study support most of the hypotheses and, in particular, confirm the mediating role of co-creation of value in a BtoB context.
Corporate Governance And Accuracy Level Of Financial Distress Prediction Models
Authors: Priego de la Cruz Alba Maria , Manzaneque Lizano Montserrat , Merino Madrid Elena
Published: March 2016

This investigation verifies the impact of corporate governance measure on the likelihood of financial distress on the Spanish Stock Exchange for the time period from 2007 to 2012. The authors applied an empirical study with panel data and conducted regression logistic models with the objective to calculate different measures of goodness of fit. The results of this study show that the prediction power of the financial distress models improves with the incorporation of some corporate governance measures.
Value At Risk, Minimum Capital Requirement And The Use Of Extreme Value Distributions: An Application To BRICS Markets
Authors: Muteba Mwamba John , Beytell Donovan
Published: March 2016

This paper uses closing prices of the BRICS (Brazil, Russia, India, China, and South Africa) financial markets to implement a risk model that generates point estimates of both Value at Risk (VaR); and Expected Shortfall (ES). The risk model is thereafter backtested using three techniques namely the Basel II green zone, the unconditional test, and the conditional test. We first filter the log-return data using an Autoregressive Regression model (AR) of order one for the conditional mean and an Exponential Generalised Autoregressive Conditional Heteroscedasticity of order one (EGARCH 1,1) for the conditional variance. We thereafter fit the filtered returns by using the Generalised Pareto Distribution (GPD) model before we compute both VaR and ES estimates. We find that the use of the GPD is well suited to financial markets that are highly exposed to global financial risks. Our results show that both VaR and ES estimates for South Africa are very low when compared with those of other BRICS financial markets. We argue that South Africas credit and loan regulations, pioneered by the National Credit Regulator (NCR), might have decreased its exposure to global financial risks. The resulting minimum capital requirement values are found to be significantly different depending on whether the Variance-Covariance or the GPD methodology is used. The backtesting methodologies show that the VaR model used in the paper is more robust and practically reliable.
Assessment Of User Authentication Risks In A Healthcare Knowledge Management System
Authors: Adekanmbi Oluwole , Green Paul
Published: March 2016

Risk management is a concept which has becomes very popular with a number of national and international businesses. Many companies often establish a risk management procedure in their projects for improving performance and increasing profits. Projects undertaken in the construction sector are widely complex, often having significant budgets; therefore, reducing risks associated with projects should be a priority for each project manager. Patient information security has become a matter of interest to healthcare professionals, governments and researchers worldwide. This paper proposes a comprehensive risk assessment methodology that provides a decision support tool, directed to a healthcare system, which can be utilized for evaluating risk involved during user authorization and authentication procedures. Within this context, a process technique was implemented to develop a risk assessment model, which is used to derive the relative priorities of the risk factors associated with a healthcare knowledge management system. The study showed risks involved when users are accessing a healthcare system. It proposes a model for assessing each risk occurring during the user authorization and authentication process. The results of the knowledge generated from the risk assessment provide a basis for deriving a system performance that is desirable for evaluating risk.
Insufficient Industrialization, Delayed Business And Economics Curricula, And Low Economic Development In Pre-1960 Brazil
Authors: Theodore John D.
Published: March 2016

The purpose of this article is to indicate that curricula in business administration and economics in the higher educational system of Brazil were not adequately introduced until the 1960s and that the absence of such curricula contributed to the delay of the economic development of the country. The Portuguese used Brazil as a source of raw materials and for the exportation of agricultural products to Europe. After the independence of the nation in the early 1800s, the large land owners and farmers resisted industrialization in order to perpetuate their power and safeguard their economic and social interests. Due to the lack of industrialization, there was no need to introduce curricula in business and economics. In the 1960s, Brazil witnessed a great movement toward industrialization and economic development in order to compete favorably on an international basis and to confront the economic progress of the Soviet Union and Cuba within the American hemisphere. For this reason, a large number of universities were established, most of which started to offer curricula in economics and business in order to prepare the countrys manpower to assume managerial and leadership positions in the areas of commerce and industry and thus contribute to the economic development of that nation.
Challenges Faced By Small, Medium And Micro Enterprises In The Nkonkobe Municipality
Authors: Chimucheka Tendai , Mandipaka Fortunate
Published: March 2016

This study investigated the challenges that are faced by entrepreneurs in the Nkonkobe Municipality in Eastern Cape Province of South Africa and the objectives were to identify and suggest solutions for the challenges. This study followed a qualitative research design and in-depth interviews were used to gather data from the respondents. Small, Micro and Medium Enterprises (SMMEs) owners and managers in the Nkonkobe Municipality were the target population. A sample of thirty respondents was drawn using purposive sampling method. Most of the respondents who participated in the study were from the agricultural industry, trading sector, and the arts and crafts industry. The challenges identified as impediments to the establishment, survival and growth of these SMMEs include lack of networking opportunities, lack of access to finance and inadequate government support. Recommendations were suggested to the SMME owners and managers, government agencies and the local municipality.
Differential Investment Performance In South Africa Based On Gender And Age
Authors: Willows Gizelle , West Darron
Published: March 2016

Behavioral finance shows us that individuals do not always behave rationally, owing to certain behavioural biases. A certain bias known as overconfidence has been found to incite increased trading frequency which in turn, reduces the overall return earned. Behavioral biases manifest differently amongst men and women of different ages. Men and more overconfident and women are more risk averse, whilst the young hold more volatile portfolios and the more experienced display fewer of these biases. A sample of 19,021 individual investors from a South African investment house was analysed over five years in order to draw conclusions on the trading behaviour, returns earned and variances in these returns earned by men and women of different ages. The results showed women over the age of 60 years earning statistically significantly higher returns than men and older investors having lower variances in return. For investors of younger ages, no statistically significant difference in the returns earned by men and women are noted, however men were found to have higher variances of returns. Whilst the trading frequency of men is statistically significantly higher than women for the total sample of investors; this result is not consistent amongst the different age-groupings analysed.
Reintermediation Strategies For Disintermediated Travel Agencies: A Strategic Marketing Perspective
Authors: Viljoen Kim , Roberts-Lombard Mornay , Jooste Chris
Published: March 2016

The evolution and advancement of the Internet has disintermediated many 20th century businesses, in particular traditional travel agencies. Reintermediation strategies for travel agents that result in additional value being delivered to customers need to be sought with the ultimate objective of retaining customers. The research on which this article is based was concerned with the apparent gap in existing research on this topic. Focus group discussions were held and an online survey was conducted with South African travel agents. Eight proposed reintermediation factors were tested for relationship significance to reintermediation and ultimately customer retention. The eight factors consisted of personal interaction, differentiated product, low service fees, product knowledge, high-quality service, coexisting with technology, targeting the leisure segment, and lastly targeting the corporate segment. Five factors proved to be valid reintermediation and customer retention indicators, with personal interaction being the most important and low service fees the least important. Marketing strategies for the purposes of reintermediation and customer retention related to these findings were recommended.
On The Growth Process Of Firms: Does Size Matter?
Authors: Dar Atul A. , AmirKhalkhali Sal
Published: March 2016

The purpose of this empirical study is to investigate whether the growth process of firms is best explained essentially by a random process as envisaged by Gibrats law, or by identifiable systematic influences such as growth persistence and firm size. A dynamic random coefficients model is applied to data on 260 Canadian firms classified into four groups according to firm size. Gibrats law of proportionate effect is not supported by the empirical results. Specifically, the findings indicate that smaller firms grow faster than larger ones in all cases. However, they also show that the effect of the disadvantage of size on growth is somewhat different for each group.
Liquidity And Bank Performance
Authors: Marozva Godfrey
Published: March 2016

This article is based on empirical research on the relationship between liquidity and bank performance for South African banks for the period between 1998 and 2014. The study employed the Autoregressive Distributed Lag (ARDL)-bound testing approach and the Ordinary Least Squares (OLS) to examine the nexus between net interest margin and liquidity. Liquidity in this article is viewed in the context of the market liquidity risk and funding liquidity risk. The study observes that there is a negative significant deterministic relationship between net interest margin and funding liquidity risk. However, there is an insignificant co-integrating relationship between net interest margin and the two measures of liquidity. Based on this research it is recommended that further research should be conducted to investigate liquidity in the context of asset- liability mismatches. Financial institutions also should realise that liquidity is a short-run phenomenon that has to be analysed as such.
Employers Perception Of Attributes Of Teachers And Training Practices In Pakistan: Difference Between Demand And Supply
Authors: Sarwar Muhammad , Khan Naeemullah , Awan Riffat , Bashir Muhammad
Published: March 2016

The purpose of this paper is to identify the qualities employers look for in a teacher candidate. The objectives of the study were to compare the employers perception of personal qualities, personal habits, personal skills/abilities and teaching skills of teachers, desired by the market and the actual attributes of teachers trained by training institutions. All private schools of the Province Punjab were the population of the study. Three districts of the Punjab province were selected as target population to collect data. Thirty schools from each district were selected as a sample. It was concluded that the difference between desired and possessed qualities is quite significant. It was felt that a strong coordination between training institutions and schools is badly needed to transform training programs to make them compatible with the market demands.
International Advertising Strategy In New Asia: A Country-Of-Origin Approach On Standardization Vs. Customization
Authors: Meng Juan , Mummalaneni Venkatapparao
Published: March 2016

This study revisited the debate concerning standardization vs. customization of the international advertising strategy from a Country-of-Origin (COO) approach. The objective here is to compare the perceptions of the exporting country and its products from the vantage point of different host countries, and to compare exporting countrys self-image with the perceived images prevailing in the host countries. Further, the study also examines the images of search products and experience products across different countries. Through analyzing survey data collected from 189 Americans, 238 Chinese, and 236 Japanese consumers, we found that different host countries have significantly different perceptions of the same exporting country. Moreover, exporting countrys self-image also largely varies from the host countrys perception of the exporting country. Finally, differences in product image were found both for search and experience products. Therefore, customized advertising strategy is suggested in the New Asia, especially in the countries studied.
University Students Perceptions Of Two Countries: Turkey And U.S.A.
Authors: Schnurr Norman V. , Sezgin Selime , Salman Gulberk Gultekin
Published: March 2016

This study was generated to understand how Turkish university students perceive their country and the U.S.A. and how U.S.A. university students perceive their country and Turkey. Perceptions are people's realities, and they use their perceptions to make decisions, form opinions and behave based on them. Perceptions may have tremendous impacts on the economic and political future relations for both countries. The paper was conceived and conducted by university faculty from both Turkey (Bahcesehir University, Istanbul Turkey) and the U.S.A. (Robert Morris University, Pittsburgh, PA). The authors would like to thank their colleagues who had their students complete the surveys.
The Relative Impact Of Competitiveness Factors And Destination Equity On Tourists Loyalty In Koh Chang, Thailand
Authors: Mechinda Panisa , Serirat Sirivan , Popaijit Nongluck , Lertwannawit Aurathai , Anuwichanont Jirawat
Published: March 2016

The purpose of this study is to investigate the relative impact of competitiveness factors and destination equity on tourist’s loyalty toward Koh Chang (Chang Island) one of the famous tourist destination in Thailand). Multiple regression analysis indicated that attitudinal loyalty was mainly driven by destination equity (destination image and destination awareness). The competitiveness factors that significantly influence domestic tourists are (1) location of destination, (2) quality of service and (3) natural resources while the competitiveness factor that influence international tourists is natural resources.
Regional Integration, Trade Openness, And Economic Growth: Causality Evidence From UEMOA Countries
Authors: Agbetsiafa Douglas K.
Published: March 2016

The manuscript entitled Regional Integration, Trade Openness, And Economic Growth: Causality Evidence From UEMOA Countries was retracted on September 11, 2014. Please contact our office at Journals@CluteInstitute.com for more information.
A Study Of Building An Intellectual Working Value Improvement Model IWV-IM
Authors: Tsunoi Masashi , Yamaji Manabu , Amasaka Kakuro
Published: March 2016

In order for Japan’s manufacturing industry to succeed amidst today’s global competition, companies must further increase the quality of tasks performed by on-site workers (worker dedication), thereby enabling them to create products with superior QCD. To this end, the authors investigated the problems currently facing manufacturing sites and identified their key factors. They then used these factors to formulate the Intellectual Working Value Improvement Model“IWV-IM”designed to improve working value and increase worker dedication. The effectiveness of this model was then verified.
The Enforcement Role Of The Companies Commission Of Malaysia
Authors: Hassan Mohd-Haswadi , Moyes Glen D. , Mohd-Sanusi Zuraidah , Iskandar Takiah Mohd
Published: March 2016

This paper explores the role of the enforcement efforts undertaken by the Companies Commission of Malaysia (CCM) as a regulator of the Companies Act of 1965, which is entrusted to uphold and ensure good practices of corporate governance among Malaysian companies.  The paper attempts to provide an understanding on various enforcement actions in terms of the effectiveness and adequacy of the measures adopted by the CCM in promoting and improving the level of corporate governance practices in Malaysia.  CCM has adopted the Balanced Enforcement Approach to promote effective corporate governance practices among the Malaysian companies. An increasing compliance rate and greater corporate governance awareness at a level similar to other countries indicates at least aminimum success of the Balanced Enforcement Approach.  Indicated is the need for CCM to establish a benchmarking or ranking procedure in order to determine the level of corporate governance practices among companies in Malaysia.
The Effect Of Dimension Companies On The Level Of Debt: A Study Of The Fishing Industry In Spain
Authors: Amigo-Dobano Lucy , Garza-Gil Ma Dolores , Varela-Lafuente Manuel
Published: March 2016

The present concern that exists in the economy on account of the high level of debt facing non-financial companies in Spain also exists in the fish and seafood processing industry, particularly to the extent that it might affect the fisheries sector as a whole. Given that Spain has generated an important processing sector and has become the main producer of canned fish and seafood in the EU, it is undoubtedly a pertinent case of reference to analyse this problem.  Along these lines, this study specifically looks at the economic structure and financial viability of the canning industry in Spain’s largest area of production (Galicia), analysing the possible interrelationships that may exist between debt levels and the business structure in this sector of the economy. Furthermore, the study is carried out in a scenario of increased demand and of risks associated with international competition, which makes the implementation of competitive strategies to guarantee the future of this activity recommendable. The results obtained show the existence of a close relationship between the size of the companies and the debt level.
Modeling Mexican Electricity Market: Experimental Results
Authors: Kalashnikov Vitaly , Kalashnykova Nataliya , Pérez Felipe de Jesús Castillo
Published: March 2016

In this paper, we propose an oligopolistic model of electricity market of Mexico and analyze numerical experiments based upon this model. Presently, the Mexican electricity market is presented by the state-regulated monopoly, so a competition market is not yet established. Our work can be evaluated as an empirical study of possible liberalization effects for Mexico. An oligopolistic market structure emerges from the energy market analysis and is characterized not only by the mutual influence upon prices due to the market shares and power but also by the naturally limited number of operating firms-producers at the market. In this Cournot-Nash model, the electricity firms maximize their profit and enlarge their market shares. For a comparison, we also introduce the notion of perfect competition, where each agent reacts as a price-taker equalizing prices and marginal costs in order to maximize its profit. The computational game theoretic modeling tool, offered in this paper, composed as a mixed complementarity problem (MCP), solved by the GAMS (www.gams.com) algorithm PATH. It was applied to the Mexican electricity market data to obtain Nash equilibrium in the perfect competition and Cournot cases, as well as open market scenario with international trade with the USA.
Economic and Other Determinants of Political Trust
Authors: DiPietro William R.
Published: March 2016

Political trust is important for the effective functioning of government. This paper uses cross country regression analysis to see whether three different measures of economic performance matter for political trust. The results lend support to the hypothesis that political trust is influenced by economic growth, the standard of living, and the appropriate use of government spending. In addition, the paper considers two institutional variables, perceived independence of the judiciary and the degree of democracy to assess their effect on political trust. It finds that perceived judicial independence has a positive effect on political trust, but democracy has a negative effect.