bluuebunny/crossref_metadata_2025 huggingface dataset:
Violencia laboral contra jornaleras agrícolas en tres comunidades del noroeste de México
Authors: Arellano Gálvez Ma. del Carmen
Published: February 2017

El objetivo de este artículo es analizar las formas de violencia laboral contra mujeres jornaleras agrícolas en tres comunidades de Sinaloa, Sonora y Baja California, para lo que se utilizó una metodología cualitativa, a través de entrevistas grupales que se les hicieron a ellas. Los resultados señalan que las trabajadoras reconocen la violación a sus derechos laborales, como no contar con servicios médicos para ellas y sus hijos, ni ingresos por faltar al trabajo cuando éstos enferman y menos opciones laborales durante el embarazo. A diario viven el acoso y el hostigamiento ejercido por hombres posicionados en distintas jerarquías laborales, pero no son pasivas ante la violencia, ya que diseñan estrategias de autocuidado. Otras se organizan para brindar asesoría a mujeres sobre sus derechos laborales y las acompañan en los procesos de denuncia y búsqueda de justicia.
Corporate governance and propensity to share information: The long-run effect
Authors: Blajer-Gołębiewska Anna , Czerwonka Leszek
Published: February 2017

The optimal corporate governance system aims to give shareholders confidence that a company is managed efficiently, to create the highest possible profit and to preserve a firm’s reputation. The aim of the research is to find out if the lower level of information asymmetry in corporate governance systems in the Polish listed companies implies higher rates of return for shareholders in the future. We put forward a hypothesis that the impact of lower information asymmetry on company’s performance is overestimated and in reality no long-run effect on the higher abnormal returns occurs. Taking into consideration the initial level of propensity to share information index we analysed future buy-and-hold abnormal returns achieved by 61 companies during the next 3 years.
Development in western ideology of entrepreneurialism and their (mis)applications in the context of non-western cultures
Authors: Gamage Helan Ramya , Wickramasinghe Ananda
Published: February 2017

The focus of this article is a conceptual analysis of the western entrepreneurship paradigm and its practical implications, based on a desktop approach. In order to bring a holistic view of the western paradigm, the following questions were raised: What constitutes the western paradigm of entrepreneurship? How does this paradigm transfer to other cultures? Why is this paradigm criticized? The purpose of evaluating the western paradigm is to gain an understanding of western ideologies in entrepreneurship to consider a suitable methodology for an alternative approach in entrepreneurship research. The different disciplinary perspectives and the reductionist approach of the western paradigm resulted in limited returns to entrepreneurship programs since one disciplinary perspective can never handle all relevancies of entrepreneurial holism. It may be better to seek a context-sensitive alternative approach.
Consumers’ expenditure patterns and shopping preferences in underdeveloped urban areas: The critical case of Tshwane
Authors: Cant Michael Colin , Sephapo Catherine Mpolokeng
Published: February 2017

This paper investigates the household expenditure patterns and shopping preferences of consumers residing in underdeveloped blackurban areas in the Tshwane area. Black households are already by far the largest group in the middle-income (LSM 5-8) market, where their numbers continue to grow steadily (Chase, Legoete& van Wamelen, 2010:2). Past research provides oddments of general spending patterns in South Africa among the population at large; however, this study focuses specifically on the area of Tshwane. Although the sample size was not representative of the entire population, the results provide a picture of what and how black consumers residing in this area spend their household income. A quantitative approach was used for this study where a survey questionnaire was used as a method for collecting data. The results showed that although the income of the sample population was not high, basic needs were fulfilled and the concept of keeping costs low did not come at the expense of the quality of goods and services.
Private benefits of control in the banking industry: A cross-country analysis
Authors: Gianfrate Gianfranco , Santangelo Emilio , Zanetti Laura
Published: February 2017

The study explores the existence and magnitude of private benefits of control in the banking industry around the world. By analyzing 157 control-transfer transactions for banks in 40 countries, we are able to detect the existence of an average 3.3% block transaction premium as a measure of private benefits of control. Consistent with the legal origin theory about the protection of minority shareholders, we find that banks operating in French civil law regimes show on average higher premiums than the banks operating in other legal frameworks. The paper also investigates to what extent regulation and public policies can curb those benefits thus enhancing bank governance. While bank-specific regulation generally does not seem to have a substantial impact on private benefits of control, the regulation on entry appears to play a moderate role in curbing those benefits
Split share structure reform and earnings informativeness in China
Authors: Jiang Haiyan , Habib Ahsan
Published: February 2017

This paper investigates the impact of split share structure reform on earnings informativeness in China. A unique institutional feature of China was the co-existence of two types of share that endowed all shareholders with equal voting and cash flow rights but different tradability. This split share structure significantly constrained the tradability of shares held by the state and ‘legal persons’ and has been the alleged cause of severe agency problems between controlling shareholders and minority shareholders. In order to overcome these agency problems, the Chinese Securities Regulatory Commission (CSRC) mandated the conversion of non-tradable shares (NTS) into tradable shares (TS) from 2006 onwards. Although the regulation did not directly address the issue of the effect of this reform on the informativeness of earnings, we believe that the emphasis given by the CSRC to the concept of ‘price discovery’ during reform has relevance for testing earnings informativeness. NTS holders can sell their shares gradually in the market with a 12 month lock-up period. This provides an opportunity for TS holders with more time to better evaluate corporate governance and firm performance of reforming companies which is expected to encourage NTS holders to provide better quality accounting information into the market place. We find support for increased earnings informativeness hypothesis in the post reform period.
Investigating the viability of unit trust business in Zimbabwe
Authors: Tsaurai Kunofiwa
Published: February 2017

This paper uses a case study methodology to investigate the viability of unit trust business in Zimbabwe during the period from 2000 to 2005. The research revealed that unit trust companies at least managed to break even during the period under study except in 2004. However, factors which worked against unit trust business viability in Zimbabwe during the period under study include among others the restrictive regulatory framework, harsh operating economic environment, trustee inefficiency, low volume of funds under management, poor asset and liability management strategy, high levels of withdrawals and low confidence levels in unit trust companies. It can be concluded that unit trust business has good potential in Zimbabwe. The fact that unit trust funds’ returns have been consistently outperforming both inflation and stock market growth shows a great potential for unit trust business in Zimbabwe. The author therefore recommends that policies, which are geared towards boosting unit trusts’ funds under management, should be intensified, in order to promote long-term viability of unit trust business in Zimbabwe
Corporate investment and institutional investors
Authors: Chung Richard
Published: February 2017

This paper examines corporate governance provided by different types of institutional investors on REIT investment decisions and its impact on firm performance. First, we find that property-type Q (firm-specific stock valuation) positively affects REIT investment decisions and such effect is materially influenced by institutional ownerships. Second, we expand Hartzell, Sun, and Titman (2006), and find negative impacts of investments on future REIT performance. We argue that firms over-invest when they see stock prices in their particular sectors are over-valued, and over-investments subsequently depress firm value. We also find that the over-investment problem is mitigated by corporate governance and monitoring performed by institutional investors
An investigation into consumers’ apparel purchase patterns within black urban areas of Tshwane, South Africa
Authors: Cant Michael Colin , Wiid Jan , Sephapo Catherine Mpolokeng
Published: February 2017

The primary aim of this research paper is to investigate the clothing expenditure patterns of consumers residing in black urban areas in the Tshwane area of South Africa. Housing, food and clothing are generally perceived as the most basic needs that people have throughout their lives. Demand for these items is generally expected to increase over time as consumer income increases and expenditure is expected to increase as income increases (Dyer, Hou & Dyer, 2004). Households in black urban areas are already by far the largest group in the middle-income (LSM 5-8) market, where their figures maintain to growth gradually (Chase, Legoete & van Wamelen, 2010:2). A quantitative approach was used for this study where a survey questionnaire was used as a method for collecting data. In order to satisfy research objectives of the study, a self-administered location based survey was distributed to the residents of Shoshanguve, Mamelodi and Attridgeville; Black urban areas within the Tshwane region of South Africa.
Looking into the expectation gap - What are going-concern assumptions really about?
Authors: MazabaCA Isaac , Lotter Willem Adriaan , Thurner Thomas Wolfgang
Published: February 2017

The question of whether or not a company will be able to continue to do business is at the core of every audit. Despite the importance of this part of the audit, little is known about what triggers an auditor to issue a qualified opinion based on going-concern uncertainties. Previous research has suggested that the auditor might act strategically, using, e.g., ambiguous wording to avoid a qualification and negative consequences for the client and still communicate his concerns. Yet these studies failed to explain in what instances auditors use such strategies. We use a sample of 90 companies that were delisted from the Johannesburg Stock Exchange or received a qualified opinion, and show that the issuance of a qualified opinion is not correlated with the company’s financial situation at all. We therefore suggest that the auditor’s own risk assessment— whether or not he might risk a lawsuit if a due going-concern assumption is not issued—might explain much more about his decision than do specifics about the client company.
Profit redistribution in family-controlled, group-affiliated publicly-listed corporations in Malaysia
Authors: Ng Sin-Huei , Shrives Philip , Kyid Yeoh Ken
Published: February 2017

This paper attempts to examine the potential occurrence of profit redistribution in family-controlled business groups in Malaysia. It is argued that there exists a tendency for business groups with extensive family ownership and control to redistribute resources from group affiliates that outperformed to affiliates that underperformed. This phenomenon is prevalent particularly in large business groups where the link between business groups and politics is most clearly displayed. Such „propping up‟ activities are believed to adversely affect the shareholders of the outperforming affiliates as the performance of these affiliates diminishes due to the profit redistribution. They also result in inefficient allocation of resources within the business group, though it is found that higher board independence may reduce such inefficiency
Verifiability and truth: Corporate social reporting in mining in China
Authors: Huang Hedy Jiaying , Zhou Ning , Hooper Keith
Published: February 2017

This research is to investigate 2011 corporate social reporting (CSR) of the mining companies listed on the Shanghai index. The research question is following: “Is the CSR of the mining companies verifiable and is what they report possibly untrue?”. The study analysed 17 companies (out of 33 mining companies listed on the Shanghai index) that produced corporate social reports in 2011. The reports were analysed as to activities highlighted are symbolic or substantive. Such activities were then cross-analysed as to their being positive or negative. Of the 17 companies only two reports were audited and thus by determined as being verified. The finding is that most of the companies reported on symbolic positive activities (possibly true but without substance) and a few companies reported on substantive positive activities (truths). However, these truths result from resolving issues that these companies have themselves created. Only one companies disclosed substantive negative activities that resulted in serious financial penalty and imprisonment for the management whereas most of the others did not disclose any negative. The mining sector is chosen for analysis as it represents one of the older and dirtier industries in China. The paper builds on the scepticism contained in the CSR literature.
Intellectual capital myths: Comments on literature review
Authors: Nerantzidis Michail , Koutsoukis Nikitas – Spiros , Kostagiolas Petros A. , Karoulia Zoi
Published: February 2017

This article contributes to the growing body of literature exploring the important role that information transparency plays in strengthening the national corporate governance regime. We review the 2007 amendments to the Canadian reporting legislation with the particular emphasis on sections pertaining to executive compensation and boards of directors. Taking into consideration the specificities of the „comply-or-explain‟ system in Canada, we seek to uncover the extent to which publicly-listed firms comply with these newly amended standards of corporate governance reporting. Based on a comparison of 403 proxy circulars issued in the post-amendment period, we identified important cross-firm variations in the type and format of disclosed information on executive compensation and corporate boards of directors. In order to address the problems that inter-organizational disclosure discrepancies generate for governance researchers and analysts, we provide several recommendations on how Canadian publicly-traded companies can improve their reporting practices.
The impact of company-specific and external factors on corporate risk taking: The case of Egyptian insurance companies
Authors: Sherif Mohamed , Elsayed Mahmoud
Published: February 2017

Using a two-way panel regression analysis with fixed and random effects and the generalized method of moment(GMM), we investigate the impact of both firm-specific and external factors on the risk taking of Egyptian insurance companies. We use hand-collected data of Egyptian insurance companies over the period from 2006 to 2011 to estimate the relationship between total and systematic risks as risk measures and the independent variables. Following Eling and Mark (2011) the extent of risk taking is quantified through variations in stock prices and these are explained by firm-specific and external factors. We find that differences in company size, interest rate level and economic development affect variations in stock prices. The analysis also highlights differences between the life and non-life insurers, with the non-life insurers exhibiting a higher level of risk (market and premium) and board independence. The pattern of results are qualitatively the same for non-life insurers but different for life insurers when we use GMM method.
Which companies find it easier to obtain bank loans? Evidence from China
Authors: Ruan Wenjuan , Xiang Erwei
Published: February 2017

The study investigates the determinants of bank loan financing of Chinese listed companies from 1996 to 2009. The empirical results suggest that the channels through which companies obtain bank loans are different. Companies controlled by the state can more easily obtain loans from state-owned commercial banks and policy banks, while privately controlled companies have significantly larger access to loans from foreign banks. The empirical results also show that political connectedness and institutional development are the significant determinants of the bank loan financing of private companies. If companies locate in an area with higher level of institutional development, the proportion of their loans from state-owned banks is smaller than that of companies locate in areas with lower level of institutional development
Determinants of investment in Namibia
Authors: Eita Joel Hinaunye
Published: February 2017

This paper presents an analysis of the determinants of investment in Namibia for the period 1971 to 2010. The results indicate that investment in Namibia can be raised by increasing real GDP, openness and financial development, and by decreasing the user cost of capital. Although saving has an expected positive coefficient, it is statistically insignificant. This suggests that saving is necessary, but not sufficient to accelerate investment in Namibia. The positive effect of effect of openness implies that increase in exports generated foreign exchange earnings necessary to purchase the imported capital goods and expand the market for domestic products. Increase in imports enabled the country to have greater access to investment goods in the international market and accelerates investment. A positive impact of financial development suggests that the financial sector is important in facilitating the channeling of resources from savers to investment activities that offer high return. The negative effect of user cost of capital implies that investment in Namibia can be accelerated by reducing the cost of capital.
A survey of corporate governance studies in China
Authors: Li Larry , Naughton Tony
Published: February 2017

This paper reviews the theoretical and empirical corporate governance literature in China, concentrating on relationships between ownership, board characteristics and firm performance. In addition, we explore the recent floatation of non-tradable shares and relationship contracting (Guanxi), which are two unique corporate governance issues in China. Overall, the understanding of the key driving forces of firm organizational structure, corporate governance practices, and performance remains largely inconclusive and we make recommendations for future research direction.
Guanxi and evolving ownership structures in Chinese private enterprises
Authors: Qin Zhong , Cheng Wenli
Published: February 2017

This paper develops a theoretical model to study features of the evolving ownership structures of private enterprises in Zhejiang Province, China. The model predicts that in a developing economy where the market environment is immature or unstable, the ownership structure of a typical private enterprise involves a cooperative arrangement between a party with management skills and another party with Guanxi (connections). As the market environment becomes more stable, the ownership share of the party with management skills increases. This result is confirmed by empirical evidence of 296 surveyed firms in Ningbo city of China, showing that the perceived importance of both government and family Guanxi declined with perceived improvements in market stability.
Tourism taxes and negative externalities in tourism in australia: A CGE approach
Authors: Ihalanayake Ranjith
Published: February 2017

In this paper we analyse general equilibrium effects of an increase in a tourism tax which we hypothetically designed to internalise negative externalities of international tourism in Australia. Several simulations were carried out using a computable general equilibrium (CGE) model of the Australian economy. The simulations were carried out assuming two different economic environments, the short-run and the long-run. The simulation results suggest that due to an increase in tourism taxes, the international tourism sector tends to contract while the other sectors expand. Overall, an increase in tourism taxes appears to be welfare improving in the long-run though it generates a marginal contraction in overall economic activities in the short run.
Perception of small-medium companies on the proposed dual labour market system in South Africa
Authors: Zulu Pascal Siphelele
Published: February 2017

This study examined perceptions of small-medium companies on the proposed dual labour market system in South Africa. The alternative system and its implications is passionately debated by market role players both inside and outside the country. The growing unemployment rate and reported dwindling number of investors; due to perceived inflexible labour laws; has attracted divergence of intellectual response. Data was collected from five companies in Kwazulu-Natal; in the Durban area in sectors such as manufacturing, business services and tourism using both personal interviews and questionnaires which were distributed to 550 employees, of which 360 questionnaires were completed (return rate 65.4%). The results of this paper indicate that in general SME’s role players have diverse views on the proposed “Dual Labour Market System” and its possible effects.
Content and quality of information: Analysis of the management discussion session in the Italian financial reports in the period 2003-2008
Authors: Carini Cristian , Veneziani Monica , Bendotti G. , Teodori Claudio
Published: February 2017

Three events have affected the management of listed companies: (i) the increasing importance of the intangible assets; (ii) the accounting harmonisation and the management discussion regulation both at European and national level; (iii) the financial crisis. In this context, regulators view narrative disclosures as the key to achieving the desired step-change in the quality of corporate reporting. The paper wants to study the quantity of financial communication in the management discussion for each information category selected and its quality in terms of: time orientation, nature and mode of expression. Content analysis is applied. One of the main results, is that the quantity of information increases and this information is always related to the business and it is non-financial, narrative and historical.
Earnings per share as a measure of financial performance: Does it obscure more than it reveals?
Authors: de Wet Johann
Published: February 2017

The well-known earnings per share measure is simultaneously very popular but also potentially misleading. This study briefly discusses the popularity of EPS and then outlines three limitations, namely the inability of EPS to reflect shareholder value, EPS management and an inherent bias towards positive EPS growth. A case study approach is used to analyze the EPS growth of three listed companies and the four major components of EPS growth are identified. These are inflation, increased asset investment due to retained profit and debt, operating leverage and financial leverage. It is indicated how an “ excess” EPS growth can be determined and it was found that none of the three case study companies was able to generate positive “excess” EPS growth.
Towards the development of a climate change risk index for local government: Some evidence from coastal councils in Australia
Authors: Sciulli Nick
Published: February 2017

The objective of this investigation is to assess the views of coastal council managers regarding which infrastructure assets are vulnerable to climate change to develop a Climate Change Risk Index. There are several implications emanating from this study including that local council managers will require more reporting guidance from federal and state governments. Adequate and consistent reporting across local councils can be used as a means of protecting infrastructure at risk to climate change. This paper contributes to the topical area of the risk climate change could pose for local council infrastructure assets. There are important implications for the safeguarding and maintenance of infrastructure in the face of increasing climatic events.
Corporate risk disclosures: Influence of institutional shareholders and audit committee
Authors: Zhang Xuan , Taylor Dennis , Qu Wen , Oliver Judith
Published: February 2017

This study investigates the association between corporate risk disclosures and institutional shareholders and audit committees. Using a sample of 66 Australian listed companies, risk disclosures made in 2009 annual reports are analysed. Findings reveal that there is no significant relationship between dedicated-type institutional block shareholders and risk disclosure, which it is argued is consistent with a proprietary information perspective. A positive relationship however is found between transient-type institutional block shareholders and risk disclosures. This result is consistent with a principal that wields limited monitoring resources while achieving high resource dependency over management. Significant positive relationships are found between audit committee independence and risk disclosures.
The relationship between earnings quality, control mechanisms of corporate governance, and future stock price returns. The case of the Netherlands
Authors: Basilico Elisabetta , Grove Hugh
Published: February 2017

This article extends prior research on the relation between earnings quality (assessed by accruals) and future stock price returns and adds new research on the relationships between direct and indirect corporate governance mechanisms of control with accruals and future stock price returns. We study public companies of the Netherlands and find the presence of mispricing associated with very high and very low accruals. We also find evidence that direct corporate governance control mechanisms, such as the existence of separate, independent, and skilled audit committees, are related to higher earnings quality and higher future stock price returns.
An examination into the markets for corporate control: Evidence on merger and acquisition deals involving Qatari companies
Authors: Bodolica Virginia
Published: February 2017

Although a rich body of literature on acquisition deals and their distinguishing features exists in Western business settings, the current understanding of the governance discipline instituted by the market for corporate control in the emerging and rapidly growing economy of Qatar is severely underdeveloped. As the country is seeking to achieve its vision of becoming a preferred financial hub in the MENA region by hosting mega sport events and attracting significant foreign investments, the importance of the local market for corporate control as an external governance mechanism cannot be neglected. This study seeks to contribute to the building of a contextual knowledge in the field by providing empirical evidence on M&A transactions involving Qatari targets and acquirers. The collected data are analyzed in terms of both the idiosyncrasies of participating companies (i.e., industry and public/private status of target and acquiring firms; features of repetitive acquirers) and specific deal characteristics (i.e., absolute number and dollar value; diversifying versus consolidating, domestic versus cross-border, and synergistic versus disciplinary acquisitions; size of control premium; mode of financing; type of antitakeover defenses). Several recommendations for future research directions on M&A activities in Qatar are provided in the concluding section of the article
The australian banking sector reforms: Progress and challenges
Authors: Nyasha Sheilla , Odhiambo Nicholas M.
Published: February 2017

This paper gives an overview of the Australian banking sector; it highlights the reforms since the 1970s; it tracks the growth of the banking sector in response to the reforms implemented over the past five decades; and finally, it highlights the challenges facing the Australian banking sector. The country’s banking sector consists of more than 60 commercial banks, with the Reserve Bank of Australia, the country’s central bank, at the apex. Since the 1980s, the Australian government has implemented a number of banking sector reforms in order to safeguard and improve the banking sector. The response to these reforms by the banking sector has been varied. As a result of these reforms, there has been an increase in the number of banks and a decrease in the number of building societies and credit unions. There has also been an improvement in the central bank’s oversight of the financial institutions, and an enforcement of the banks’ capital-adequacy requirements. Currently, Australia has one of the most developed banking systems in the world. The country has enjoyed a substantial bank-based financial sector development over the years, and its institutional framework has also grown stronger. However, like any other country’s financial system, the Australian banking system still faces wide-ranging challenges, such as bank concentration and exposure.
Agency issues in stock option ‘6 and 1’ exchange: revisited
Authors: Park Dong Jin , Subramaniam Chandra
Published: February 2017

Prior studies (Coles et al., 2006; Carter and Lynch, 2007) do not find significant evidence that managers’ actions reduce stock price prior to the option reissue date in the stock option ‘6 and 1’ exchanges. This paper reinvestigates the stock price pattern with a larger sample and a better control group. We find that stock return prior to option reissue date is significantly lower for option exchange programs that include top executives than who do not. Following the option reissue, the stock return is higher for option exchange programs that include top executives than who do not. This finding suggests that top management may have incentives to increase future option payouts by holding down stock price from increasing
An exploratory review of foreign direct investment and economic growth in four SSA countries
Authors: Mahembe Edmore , Odhiambo Nicholas M.
Published: February 2017

This paper highlights the status of foreign direct investment (FDI) and economic growth in four middle-income sub-Saharan Africa countries, namely: Angola, Mauritius, Namibia and Seychelles. The study examines the individual countries’ policies and strategies that were aimed at boosting FDI and economic growth. The study finds that the FDI inflows were fairly low during the period the 1980s and the 1990s. This is mainly because during this period, the policies of these countries, like many other sub-Saharan African countries, hinged mainly on import substitution, socialism and centralized economic systems. However, following the implementation of policies, such as privatisation, liberalisation, structural-adjustments, etc, in the 1990s and 2000s, the FDI inflows into these countries increased significantly, especially from developed countries. The biggest recipient of FDI inflows among the four studied countries, however, was Angola – where the FDI inflows increased from US$ 2145.5 mill in 2001 to US$ 16581.0 million in 2008.
The problems with governance and accountability in French charities
Authors: Hooper Keith , Ayoub Samir , Sinclair Rowena
Published: February 2017

This paper identifies problems with governance and accountability in respect to French charities by assessing current reporting practices. To identify the most common practices, an exploratory study was conducted with accountants, auditors and academics with expertise in charity financial reporting. Compliance emerged as the major issue with charity reporting in France. In many cases, the accounting treatments adopted were decided by the charity involved. No standardisation of accounting treatment can be presumed, with many charities producing reports that are opaque or lacking vital detail. A key finding is the need for an accountability discharge mechanism to support accountability discharge documents such as financial statements. This reflects the lack of centralized oversight on whether these statements are audited or conform to French codes
Tapping into the bottom of the pyramid (bop) market in South Africa: possible? And how?
Authors: Oodith Pravina D , Parumasur Sanjana Brijball
Published: February 2017

Prahalad (2005) believes that the bottom of the pyramid (BOP) proposition can fulfill both the social goals of poverty eradication and the business goals of profits. The current ominous state of poverty in South Africa together with South Africa’s commitment to the United Nations Millennium Declaration to halve poverty by 2015 has motivated the researchers to consider Prahalad’s proposition of collaborating with the various constituencies including the multinational corporations (MNCs) to address the needs of the BOP market. This paper aims to evaluate the feasibility of implementing Prahalad’s Bottom of the Pyramid (BOP) proposition in the South African market and to conceptualize alternative approaches to developing marketing strategies for the South African BOP consumers. The study adopts a theoretical research study. It reviews statistics on the extent of poverty in South Africa. Arguments for and against the BOP proposition are examined and the researchers assess how the BOP proposition may work in the South African context. The secondary data indicates that the BOP is a lucrative market in the South African context. The authors conclude that the BOP proposition, if effectively implemented, has the potential to reduce poverty in South Africa and increase the profits of multinational corporations (MNCs). The researchers recognize the importance of MNC’s buying into the BOP proposition from the standpoint of corporate social responsibility (CSR). They also propose a 6As Framework for the implementation of the BOP philosophy and a model for eradicating/minimizing poverty through profits.
Sound and consumer buying behaviour: do apparel retailers take note of the effect of sound on buying behaviour.
Authors: Nell Elsa C. , Cant Michael Colin
Published: February 2017

The main aim of this study was to investigate the influence of sound 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 naïve sketches. The data gathered was analysed by means of Tesch’s inductive descriptive coding technique, better known as thematic analysis. It was found that sound 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 are willing to spend in-store and ultimately influencing their buying decisions and behaviour in either a positive or a negative way.
A conceptual literature analysis of the relationship between FDI and exports
Authors: Tsaurai Kunofiwa
Published: February 2017

The study investigates the theoretical and empirical literature framework that explains the relationship between foreign direct investment (FDI) and exports. Three prominent views explaining the causality relationship between exports and FDI were discussed and these include the FDI- led exports view, exports-led FDI view and the feedback view. FDI-led exports view mentions that exports can increase or decrease in direct response to changes in foreign direct investment inflows or outflows. The exports-led FDI view suggests that exports spur FDI whilst the feedback view says that both exports and FDI promote each other. The trend analysis between FDI and exports for Botswana as a case study was also looked into using time series annual data ranging from 1980 to 2011 obtained from World Development Indicators. The literature review framework analysis shows that the FDI-led exports view is more popular with most theoretical and empirical studies. It is against this background that the author recommends authorities to come up with policies that attract FDI into their economies in order to boost export sector for growth reasons.
Crisis and controls: the Italian model
Authors: Provasi Roberta , Riva Patrizia Lucia Maria
Published: February 2017

The success of any Restructuring Technique is related to the quality of operations that the company has planned to implement. This is the reason why, no matter which of the recovery strategy the company choses, the law requires that more than one Independent Auditor should analyze the prospective financial data produced by the company and coming as a result of the planned restructuring operations.
The evolution of bank-based financial system in the United Kingdom
Authors: Nyasha Sheilla , Odhiambo Nicholas M.
Published: February 2017

This paper gives an overview of the banking sector in the U.K.; it highlights the reforms since the second half of the 20th Century; it tracks the growth of the banking sector in response to the reforms implemented over the past seven decades; and finally, it highlights the challenges facing the banking sector in the U.K. The country’s banking sector consists of more than 340 commercial banks, with the Bank of England, which is the economy’s central bank, at the apex. Since the 1970s, the U.K. government has implemented a number of banking sector reforms – in order to safeguard and improve the banking sector. The response to these reforms, by the banking sector, has been varied. As a result of these reforms, there has been an increase in the activity of foreign banks as the financial sector was regulated. There has also been an improvement in the Central Bank’s oversight of the financial institutions, and an enforcement of the banks’ capital-adequacy requirements. By any standard, the U.K. currently has one of the most developed banking systems in world. The country has enjoyed a substantial bank-based financial sector development over the years, and its institutional framework has also grown stronger. However, like any other financial system, the U.K. banking system still faces wide-ranging challenges, such as less than adequate disclosure standards, contagion risk from the euro zone, squeezed interest margin and uncertainties caused by changes in regulatory regimes.
Corporate governance and firm valuation in emerging markets: evidence from UAE listed companies in the Middle East
Authors: Adawi Mohamed , Rwegasira Kami
Published: February 2017

There has been previous empirical research on corporate governance and board of directors which focused on attempting to find a direct relationship between internal governance variables and firm valuation. It has however also been argued that there are differences in the nature, direction, magnitude and processes of operation of this relationship between developed and developing financial markets because of differences in their respective economic, social, regulatory framework and market behaviour . This study examines this relationship in the context of the United Arab Emirates (UAE) as one of the emerging markets in order to extend evidence further beyond the western developed capital markets into the Middle East. Does the prevalence of family-ownership in the UAE for example matter to the company valuation? What about the presence of institutional ownership or ownership concentration? And do the corporate communication and disclosure scores published by the UAE Institutional Investor in cooperation with Hawkamah, The Institute for Corporate Governance; have any relationship to corporate valuation? More specifically this study, using multiple regression analysis, examines the impact of firm level internal corporate governance indicators namely board structure, ownership structure, and transparency and disclosure governance practices on the valuation of listed companies in the UAE after controlling for company size, industry, leverage, and dividend payout using Tobin’s Q, Price - Earning Ratio (PER) and Price - Book Value Ratio (PBVR) as surrogates for company valuation. The results show no significant relationship between internal corporate governance indicators and company valuation when using Tobin’s Q and PBR as measures of company valuation. However they reveal statistically significant links between some of the internal corporate governance indicators on the one hand and company market valuation on the other when company valuation is measured by the price earnings ratio (PER) which is one of the most common and important stock market indicators for investors. These results suggest that the company valuation measures like the price earnings ratio which explicitly reflects the financial markets assessment of the firm investment and dividend policies lead to a better correlation with internal corporate governance indicators. Moreover, the regression results indicate that the frequency of board meetings, adoption of best transparency practices and the presence of private institutional investors such as sovereign wealth funds are the most significant internal corporate governance variables in accounting for differences in company market values in the UAE. The structural aspects of the board such as size and composition turned out not to be statistically significant in their impact on company valuation.
Asset liquidity and bank profitability in South Africa
Authors: Marozva Godfrey
Published: February 2017

This paper empirically analyses the relationship between asset liquidity and bank profitability for South African banks for the period between 1994 and 2011. The study employs Ordinary Least Squares (OLS) and the Autoregressive Distributed Lag (ARDL)-bound testing approach to examine the linkage between return on assets (ROA) and liquidity, and the nexus between return on equity (ROE) and liquidity to capture the short-run and long-run dynamics. The study observes that there is neither a significant relationship between ROE and liquidity nor a relationship between ROE and liquidity. These observations hold for both the short-run and long-run. Banks are recommended to embrace the asset liability framework in their analysis and management of liquidity as the asset only approach is insufficient and misleading
The advanced model definition and analysis of orthodontic parameters on 3D digital models
Authors: Majstorovic Nemanja , Zivkovic Srdjan , Glisic Branislav
Published: February 2017

Introduction/Objective. Digital 3D modeling is slowly becoming an everyday orthodontic practice, and after two decades of research and development it is a basic element of e-orthodontics. The aim of this study was development and use of geometric entities on 3D digital models for diagnosing, planning and monitoring of orthodontic therapy, by using CAD (computer aided design) systems. Methods. Statistical analysis and synthesis of 54 orthodontic parameters (28 in the upper and 26 in the lower jaw), defining three hypotheses and their testing, the application of the t-test. Results. All three hypotheses are confirmed, convenience of using geometric entities, higher accuracy of 3D digital models, and more substantial displacement of teeth in the first six months of therapy (Student?s t-test). After the first six months, distances in the x?y plane (occlusal plane) were bigger in both the upper and the lower jaw; additionally, the distances in the y?z plane (medial plane) decreased on the left and right side, so we can say that the first phase of therapy had success and that both jaws are wider. At the next four controls, parameters showed slight progress that was not statistically significant. Overall, after 11 months of therapy, there was a considerable improvement in the x?y plane, while changes in distances of clinical crown heights were very small. This could be explained by the fact that, during therapy, by using different arches, upper molars were pushed inside, toward the palate. Analyzing 3D computer models, we could notice that in this plane displacement of the upper left first molar was larger. Conclusion. The use of geometric entities for defining orthodontic parameters gives us new possibilities for accurate and reliable analysis of patient?s orthodontic condition.
STRATEGI PEMASARAN PARIWISATA DI KABUPATEN BULELENG, BALI
Authors: Ary Widiastini Ni Made
Published: February 2017

Penelitian ini dianalisis dengan metode Strength Weakness Opportunity Threat(SWOT) dengan memperhatikan matriks Eksternal Factor Analysis Summary (EFAS) danInternal Factor Analysis Summary (IFAS). Berdasarkan hasil temuan di lapangan dengan menggunakan analisis SWOT, strategi pemasaran yang dapat diterapkan olehkepariwisataan Buleleng diantaranya: (1) Strategi strength dan opportunity  (SO)diantaranya: mengkemas paket wisata dalam berbagai harga dan varian, menciptakanprogram yang berbasis budaya lokal dan ramah lingkungan, memanfaatkan teknologi dalamoperasional sehingga mudah dalam memberikan pelayanan, mengembangkan programprogramyang menarik dengan memberdayakan masyarakat lokal, menciptakan produkyang sesuai antara harga dan nilai yang terdapat di dalamnya (value for money), danpemberian Guide Fee; (2) Strategis strength dan threat (ST) diantaranya:  melakukan diversifikasi produk wisata dan meningkatkan peran serta pemerintah daerah; (3) Strategiweakness dan opportunity (WO) diantaranya: meningkatkan media promosi dan kemudahanpelayanan melalui penggunaan teknologi informasi, meningkatkan kualitas sumber dayamanusia dan menjaga kebersihan lingkungan sekitar dengan mengembangkan produk yangramah lingkungan dan pemberian Guide Fee; (4) Strategi weakness dan threat (WT)diantaranya: melakukan kajian terhadap pengembangan pariwisata Kabupaten Buleleng,meningkatkan informasi tentang pariwisata Buleleng dan melakukan kreatifitas terhadapproduk hotel. Faktor terpenting dalam pemasaran pariwisata adalag peningkatan peranserta pemerintah daerah, melakukan diversifikasi produk dan meningkatkan kualitaslayanan pariwisata.
PENGEMBANGAN MODEL PENGENTASAN KEMISKINAN BERBASIS NILAI-NILAI NYAMABRAYA (Ajaran Tatwamasi) PADA MASYARAKAT PERKOTAAN DI PROVINSI BALI
Authors: Lasmawan I Wayan
Published: February 2017

Tujuan jangka panjang penelitian ini adalah: melahirkan sebuah model programpenanggulangan kemiskinan yang sesuai dengan aspek lokalitas masyarakat, sehinggamampu menekan laju pertumbuhan tingkat kemiskinan di Indonesia, khususnya di daerahperkotaan. Secara khusus, penelitian ini bertujuan untuk: (1) mengembangkan modelpengentasan kemiskinan berbasis nyamabraya, (2) mengembangkan standar operasionalprosedur pengentasan kemiskinan berbasis nyamabraya, (3) merumuskan rekomendasikebijakan public tentang pengentasan kemiskinan berbasis nyamabraya, dan (4)mengembangkan sebuah model rekayasa modalitas social-budaya bagi masyarakat miskin,khususnya untuk daerah perkotaan. Upaya pencapaian (dihasilkannya) model pengentasankemiskinan berbasis nyamabraya tersebut akan dilakukan melalui serangkaian kegiatanselama 3 (tiga) tahun, dari tahun 2011 sampai dengan tahun 2013 dengan menggunakanparadigma penelitian pengembangan tipe “Prototipycal Studies” yang dipadukan denganmetode ”Analisis Reflektif”, sehingga akan diperoleh sebuah inovasi terstruktur terkaitdengan  model pengentasan orang miskin sebagai alternatif-kebijakan dalam peningkatancapaian pembangunan nasional, khususnya di daerah perkotaan.