Science Publishing Group: Journal of Investment and Management: Table of Contents
<i> Journal of Investment and Management (JIM) </i> aims to promote rapid communication and dialogue among the researchers, scientists, engineers and policy makers working in the areas of investment and management. It provides you with cutting-edge research and expert analysis on managing investments in hedge funds, private equity, distressed debt, commodities and futures, energy, funds of funds, and other nontraditional assets. JIM welcomes the following tier 1 article types: Book Review, Editorial, General Commentary, Hypothesis & Theory, Methods, Mini Review, Opinion, Original Research, Perspective, Review, Specialty Grand Challenge and Technology Report.
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Journal of Investment and Management
Journal of Investment and Management
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Analysis of Perceptions and Attitudes of Scheduled Commercial Bank Personnel Toward Provision of Credit to Poor and Toward Financial Inclusion Process in India
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A bank’s role in providing financial services to the poor is debatable. There are no grounds to believe that the banks have been willing or able to operate as development institutions for the poor. McKee (1989, p. 997) noted, however, that given the resources of the banking system, “changing its behavior even at the margin offers the potential to improve the livelihoods of millions of poor people.” McKee’s view is particularly resonant for India where, although the rural banking sector has an unrivalled physical presence with nearly 33,000 Commercial and Regional Rural Bank branches, the quality of outreach to the poor leaves scope for improving the low recovery rates, impaired viability of bank branches, varying degrees of bureaucratization and politicization and erosion in staff morale. In addition to physical presence, banks offer advantages by being regulated institutions with established administrative and accounting systems, by not being dependent on scarce and volatile donor resources, and by offering a range of financial services. Moreover, for reasons ranging from enhancement of public image to diversification into new markets, some banks are increasingly interested in the microfinance sector. However, when banking reforms required to promote financial inclusion are discussed in lot by academicians, finance experts and RBI, insufficient attention is paid to the possibility that the attitudes of staff, at both branch and institutional levels, may constrain the provision of financial services to the poor and their role in implementation of financial inclusion initiatives. These aspects are the focus of the present research article.
A bank’s role in providing financial services to the poor is debatable. There are no grounds to believe that the banks have been willing or able to operate as development institutions for the poor. McKee (1989, p. 997) noted, however, that given the resources of the banking system, “changing its behavior even at the margin offers the potential to improve the livelihoods of millions of poor people.” McKee’s view is particularly resonant for India where, although the rural banking sector has an unrivalled physical presence with nearly 33,000 Commercial and Regional Rural Bank branches, the quality of outreach to the poor leaves scope for improving the low recovery rates, impaired viability of bank branches, varying degrees of bureaucratization and politicization and erosion in staff morale. In addition to physical presence, banks offer advantages by being regulated institutions with established administrative and accounting systems, by not being dependent on scarce and volatile donor resources, and by offering a range of financial services. Moreover, for reasons ranging from enhancement of public image to diversification into new markets, some banks are increasingly interested in the microfinance sector. However, when banking reforms required to promote financial inclusion are discussed in lot by academicians, finance experts and RBI, insufficient attention is paid to the possibility that the attitudes of staff, at both branch and institutional levels, may constrain the provision of financial services to the poor and their role in implementation of financial inclusion initiatives. These aspects are the focus of the present research article.
Analysis of Perceptions and Attitudes of Scheduled Commercial Bank Personnel Toward Provision of Credit to Poor and Toward Financial Inclusion Process in India
doi:10.11648/j.jim.20120101.11
Journal of Investment and Management
2014-01-01
© Science Publishing Group
T. Ravikumar
Analysis of Perceptions and Attitudes of Scheduled Commercial Bank Personnel Toward Provision of Credit to Poor and Toward Financial Inclusion Process in India
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© Science Publishing Group
Managing Healthcare Project Financing Investments: A Corporate Finance Perspective
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Healthcare infrastructures are a typical risky investment, which can be financed in many different and competing ways, and Public Private Partnership and project financing techniques are increasingly recognized as a useful and appropriate device. Risk identification, transfer, sharing and management are a key point of the whole structure and the risk matrix, used in order to classify and - wherever possible - measure risk is an unavoidable part of the investment package. To the extent that it can be professionally managed by specialized agents, risk sharing or transmission is not a zero sum game, even if risk pricing is never a trivial issue. While the public part traditionally bears core market risk (demand for health services), other key risks, such as those related to construction and management of commercial (hot) activities, are typically transferred to the private part, often represented by a private entity. A corporate finance perspective is crucial for preparing a proper business model, where economic and financial flows are projected along the time span of the investment, with managerial and strategic insights for not ephemeral sustainability. Capital structure issues, rotating around (optimal) leverage, are eventually discussed, starting from a Modigliani & Miller framework, with practical insights and sensitivity analyses.
Healthcare infrastructures are a typical risky investment, which can be financed in many different and competing ways, and Public Private Partnership and project financing techniques are increasingly recognized as a useful and appropriate device. Risk identification, transfer, sharing and management are a key point of the whole structure and the risk matrix, used in order to classify and - wherever possible - measure risk is an unavoidable part of the investment package. To the extent that it can be professionally managed by specialized agents, risk sharing or transmission is not a zero sum game, even if risk pricing is never a trivial issue. While the public part traditionally bears core market risk (demand for health services), other key risks, such as those related to construction and management of commercial (hot) activities, are typically transferred to the private part, often represented by a private entity. A corporate finance perspective is crucial for preparing a proper business model, where economic and financial flows are projected along the time span of the investment, with managerial and strategic insights for not ephemeral sustainability. Capital structure issues, rotating around (optimal) leverage, are eventually discussed, starting from a Modigliani & Miller framework, with practical insights and sensitivity analyses.
Managing Healthcare Project Financing Investments: A Corporate Finance Perspective
doi:10.11648/j.jim.20130201.12
Journal of Investment and Management
2014-01-01
© Science Publishing Group
Roberto Moro Visconti
Managing Healthcare Project Financing Investments: A Corporate Finance Perspective
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© Science Publishing Group
Determination of Disproportionate Tenders in Public Procurement
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Public procurement is one of the fundamental pillars of the construction sector and the understanding of its statutory regulation is one of the keys to success. The government regulates the concept of disproportionate tenders to avoid deals that are too low, something which could jeopardise the execution of the work or cause problems during implementation such as conflicting prices, project modifications and delays. The criteria for determining the disproportionality of the offers are numerous and each contracting authority determines which to use in each process by carrying out a comparative analysis. The results show that the formulas of disproportionality based on a percentage of the bid price are not useful, and the convenience of formulas based on the determination of a low reference which is calculated from both the average of the offers and the standard deviation.
Public procurement is one of the fundamental pillars of the construction sector and the understanding of its statutory regulation is one of the keys to success. The government regulates the concept of disproportionate tenders to avoid deals that are too low, something which could jeopardise the execution of the work or cause problems during implementation such as conflicting prices, project modifications and delays. The criteria for determining the disproportionality of the offers are numerous and each contracting authority determines which to use in each process by carrying out a comparative analysis. The results show that the formulas of disproportionality based on a percentage of the bid price are not useful, and the convenience of formulas based on the determination of a low reference which is calculated from both the average of the offers and the standard deviation.
Determination of Disproportionate Tenders in Public Procurement
doi:10.11648/j.jim.20130201.11
Journal of Investment and Management
2014-01-01
© Science Publishing Group
Fuentes-Bargues J. L.
González-Gaya C.
Determination of Disproportionate Tenders in Public Procurement
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© Science Publishing Group
Decreasing of the Company Indebtedness Through Financial Investment
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Present period of business brings problems, when many companies achieve profit by the way of indebtedness against external environment, in which company exists. Mainly due to the external relations company has almost regular problems with indebtedness and consequent paying disability. Goal of the paper is to show impact of financial investment to the indebtedness decreasing by the way of securities portfolio. Research database of securities value is used from the results of periodic auctions, according which there is calculated revenue of investment and investment risk, as it is defined by Brealey et. al (2000). Decision to solve the situation through financial investment can help financial managers to make effective solving of the indebtedness that can greatly determine further orientation of the company in the future.
Present period of business brings problems, when many companies achieve profit by the way of indebtedness against external environment, in which company exists. Mainly due to the external relations company has almost regular problems with indebtedness and consequent paying disability. Goal of the paper is to show impact of financial investment to the indebtedness decreasing by the way of securities portfolio. Research database of securities value is used from the results of periodic auctions, according which there is calculated revenue of investment and investment risk, as it is defined by Brealey et. al (2000). Decision to solve the situation through financial investment can help financial managers to make effective solving of the indebtedness that can greatly determine further orientation of the company in the future.
Decreasing of the Company Indebtedness Through Financial Investment
doi:10.11648/j.jim.20130202.11
Journal of Investment and Management
2014-01-01
© Science Publishing Group
Katarína Čulková
Marcela Taušová
Decreasing of the Company Indebtedness Through Financial Investment
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© Science Publishing Group
Complexity Identification in Hybrid Management Intelligence System and its Impact on Customized Throughput
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Businesses and corporate organizations are moving towards the use of advanced technology and information management systems in creating sustainable growth and customized throughput. Present day decision makers and managers are thus in a quest for real-time information in facilitating effective decision. The paper presents the use of hybrid man-agement intelligence system in effecting decisions and its association with organizational performance. Furthermore, the use of hybrid intelligentsia such as business intelligence and knowledge management system in improving organizational per-formance is the current practice at different managerial levels. The complexities associated with management intelligence systems are identified and discussed. The effect of hybrid management intelligence system on organizational and customized throughput are discussed and presented in the paper.
Businesses and corporate organizations are moving towards the use of advanced technology and information management systems in creating sustainable growth and customized throughput. Present day decision makers and managers are thus in a quest for real-time information in facilitating effective decision. The paper presents the use of hybrid man-agement intelligence system in effecting decisions and its association with organizational performance. Furthermore, the use of hybrid intelligentsia such as business intelligence and knowledge management system in improving organizational per-formance is the current practice at different managerial levels. The complexities associated with management intelligence systems are identified and discussed. The effect of hybrid management intelligence system on organizational and customized throughput are discussed and presented in the paper.
Complexity Identification in Hybrid Management Intelligence System and its Impact on Customized Throughput
doi:10.11648/j.jim.20130202.12
Journal of Investment and Management
2014-01-01
© Science Publishing Group
Chiemela Onunka
Complexity Identification in Hybrid Management Intelligence System and its Impact on Customized Throughput
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© Science Publishing Group
Is Negotiation a Threat to Zimbabwean Investment Deals? an Analysis of Essar and Green Fuel Investments
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Purpose: The purpose of this paper is to provide an overview of the Negotiation structures in Zimbabwe, ad-dressing the extent to which negotiation mechanisms may have been a contributory factor to the recent negotiated govern-ment deals with Essar and Green Fuel Chisumbanje projects which have taken so long to take off than as anticipated. Design/Methodology/Approach: The study adopted a qualitative research design because it provided flexibility and afforded the researcher the opportunity to conduct an in-depth research. Case studies of Essar and Green Fuel investments were conducted. Findings: The findings suggest that there were no effective stakeholder consultations before the FDI deal with Essar was signed. It appears as though negotiators were in a hurry to sign the agreement before doing a thorough analysis. The case of Green Fuel, also demonstrated the absence of wider stakeholder consultation before the implementation of the project. There was evidence of lack of transparency on the part of negotiations. Research Limitations/Implications: The main limitation of the study lies with a lack of complex analysis undertaken to support the findings. Practical Implications: The findings from the study suggest that Government policy is never implemented Social Implications: Governments across the world pay lip service when it comes to implementing Government projects. As a result the public suffer due to poor service delivery. Originality/Value: The paper is original as it is the first attempt to discuss government negotiation deals that do not materialise according to the planned time frame.
Purpose: The purpose of this paper is to provide an overview of the Negotiation structures in Zimbabwe, ad-dressing the extent to which negotiation mechanisms may have been a contributory factor to the recent negotiated govern-ment deals with Essar and Green Fuel Chisumbanje projects which have taken so long to take off than as anticipated. Design/Methodology/Approach: The study adopted a qualitative research design because it provided flexibility and afforded the researcher the opportunity to conduct an in-depth research. Case studies of Essar and Green Fuel investments were conducted. Findings: The findings suggest that there were no effective stakeholder consultations before the FDI deal with Essar was signed. It appears as though negotiators were in a hurry to sign the agreement before doing a thorough analysis. The case of Green Fuel, also demonstrated the absence of wider stakeholder consultation before the implementation of the project. There was evidence of lack of transparency on the part of negotiations. Research Limitations/Implications: The main limitation of the study lies with a lack of complex analysis undertaken to support the findings. Practical Implications: The findings from the study suggest that Government policy is never implemented Social Implications: Governments across the world pay lip service when it comes to implementing Government projects. As a result the public suffer due to poor service delivery. Originality/Value: The paper is original as it is the first attempt to discuss government negotiation deals that do not materialise according to the planned time frame.
Is Negotiation a Threat to Zimbabwean Investment Deals? an Analysis of Essar and Green Fuel Investments
doi:10.11648/j.jim.20130203.12
Journal of Investment and Management
2014-01-01
© Science Publishing Group
Michael Musanzikwa
Is Negotiation a Threat to Zimbabwean Investment Deals? an Analysis of Essar and Green Fuel Investments
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© Science Publishing Group
“Intervention of Destination Management Organization’s In Tourist Destinations for Branding, Image Building and Competitiveness – A Conducive Model for Karnataka”
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Destination Management Organization (DMO) is a technical body which is supported by the Host Government. DMO’s initiate a standardized procedure to market a destination by attracting right quantum of tourist, to synergizes activities on tourist destinations. DMOs are also perceived as marketing organizations designed to bring buyers (visitors) in contact with marketers (providers of tourism products and services). DMOs can flourish with Destination marketing as a proactive function. Visitor centered approach to the economic and cultural development of a destination will balance & integrate the interests of visitors, service providers and the community. Core DMO functions are to market the destination as attractive to visitors (i.e., generating prospects) through marketing and promotional activities like, branding, advertising, media production, etc. Providing suppliers with market intelligence plus cost effective access to distribution channels are other functions. The interest also will be on providing some level of support to the visitor at the destination and the future of DMO’s will be as a dominant and most influential body to manage a Destination evolving into a "total destination management system". The DMO will become the ultimate source of strategic intelligence and grow as a communication centre for a destination. The research identifies to impart value creation in a networked environment through DMOs in order to enhance a new paradigm for competent destination management and thereby to build on the professional competency through DMOs to foresee the future challenges. Thereby, the DMO community will be sought after by Govt. institutions & large corporations for information and leadership.
Destination Management Organization (DMO) is a technical body which is supported by the Host Government. DMO’s initiate a standardized procedure to market a destination by attracting right quantum of tourist, to synergizes activities on tourist destinations. DMOs are also perceived as marketing organizations designed to bring buyers (visitors) in contact with marketers (providers of tourism products and services). DMOs can flourish with Destination marketing as a proactive function. Visitor centered approach to the economic and cultural development of a destination will balance & integrate the interests of visitors, service providers and the community. Core DMO functions are to market the destination as attractive to visitors (i.e., generating prospects) through marketing and promotional activities like, branding, advertising, media production, etc. Providing suppliers with market intelligence plus cost effective access to distribution channels are other functions. The interest also will be on providing some level of support to the visitor at the destination and the future of DMO’s will be as a dominant and most influential body to manage a Destination evolving into a "total destination management system". The DMO will become the ultimate source of strategic intelligence and grow as a communication centre for a destination. The research identifies to impart value creation in a networked environment through DMOs in order to enhance a new paradigm for competent destination management and thereby to build on the professional competency through DMOs to foresee the future challenges. Thereby, the DMO community will be sought after by Govt. institutions & large corporations for information and leadership.
“Intervention of Destination Management Organization’s In Tourist Destinations for Branding, Image Building and Competitiveness – A Conducive Model for Karnataka”
doi:10.11648/j.jim.20130203.13
Journal of Investment and Management
2014-01-01
© Science Publishing Group
Bindi Varghese
“Intervention of Destination Management Organization’s In Tourist Destinations for Branding, Image Building and Competitiveness – A Conducive Model for Karnataka”
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© Science Publishing Group
The Co-Production of Value in an Art Market: Exploring Service Relationships
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The purpose of this research is to analyze service dominated relationships and differences in characteristics of these relationships within arts marketing. The appreciation of art is seen as a service and is intertwined with the creation of company identity and thus a subtle kind of marketing, whether this is a conscious or non-conscious strategy from a company perspective. Companies invest in art in order to enhance their image, and establish network relationship with art firms. The data is collected from the Swedish non-profit art market of public and private organizations with focus on Stockholm, an art market place as well as a prime site for company head quarters. The data is analyzed with multivariate correspondence analysis (MCA), which is also known as geometric data analysis (GDA). This method enables analysis of relationships as well as overall characteristics of the participants in these relationships: a part of service as well as a creation of company identity, thus marketing. The research has shown that the service encounter within arts is enhanced within relationships between key actors that can be considered co-producers of art and that multivariate correspondence analysis is a helpful tool to identify these relationships and company characteristics in a structured manner. The methodology is generating visual pictures of the art market that cooperates with profit making ordinary companies in different industries. The graph that is produced with MCA is a visualization of what can be regarded as a map of the companies with connections to the nonprofit art market, whether these connections are formal and a part of regular business activities or informal and relatively weak.
The purpose of this research is to analyze service dominated relationships and differences in characteristics of these relationships within arts marketing. The appreciation of art is seen as a service and is intertwined with the creation of company identity and thus a subtle kind of marketing, whether this is a conscious or non-conscious strategy from a company perspective. Companies invest in art in order to enhance their image, and establish network relationship with art firms. The data is collected from the Swedish non-profit art market of public and private organizations with focus on Stockholm, an art market place as well as a prime site for company head quarters. The data is analyzed with multivariate correspondence analysis (MCA), which is also known as geometric data analysis (GDA). This method enables analysis of relationships as well as overall characteristics of the participants in these relationships: a part of service as well as a creation of company identity, thus marketing. The research has shown that the service encounter within arts is enhanced within relationships between key actors that can be considered co-producers of art and that multivariate correspondence analysis is a helpful tool to identify these relationships and company characteristics in a structured manner. The methodology is generating visual pictures of the art market that cooperates with profit making ordinary companies in different industries. The graph that is produced with MCA is a visualization of what can be regarded as a map of the companies with connections to the nonprofit art market, whether these connections are formal and a part of regular business activities or informal and relatively weak.
The Co-Production of Value in an Art Market: Exploring Service Relationships
doi:10.11648/j.jim.20130203.14
Journal of Investment and Management
2014-01-01
© Science Publishing Group
Erik A. Borg
Lars Vigerland
The Co-Production of Value in an Art Market: Exploring Service Relationships
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© Science Publishing Group
Integrating Activity-Based Costing with Economic Value Added
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Activity-Based Costing (ABC) was developed in the mid 1980s by Kaplan and it has been applied very popular in developed countries with obvious advantages. Although ABC system has more advantages than traditional costing (TC) system, but in today’s competitive economic environment it has not met fulfilled provision of sufficient information for decision-making, especially single ABC method ignores capital cost. The lack of capital cost is the reason why some products have inaccurate product costs and as results of that they have profit under ABC method but when capital cost is charged to those products, they cause a loss because they consume high invest fund. Imprecise information provided by single ABC method to managers is the reason why managers make inaccurate decisions. How to overcome this limitation of ABC? This paper researches on the integration of ABC with Economic Value Added (EVA™) as one way to overcome its limitation and innovation management accounting. Based on the data provided by Dong Su Company, this paper calculated profits of two customer groups using the new methodology (EVA-ABC) and also the old methodology (single ABC) to show how vague or inaccurate is the results you get when you use the old methodology and how accurate is the results you get when using the new methodology. The calculation showed that under EVA-ABC group 1 generates the value (13%) for this company but group 2 reduces the value of the business and destroy its capital (-8%). However under the single ABC method, the calculation showed that both two customer groups create profits for Dong Su with profit rate are 20% and 4% respectively which was incorrect.
Activity-Based Costing (ABC) was developed in the mid 1980s by Kaplan and it has been applied very popular in developed countries with obvious advantages. Although ABC system has more advantages than traditional costing (TC) system, but in today’s competitive economic environment it has not met fulfilled provision of sufficient information for decision-making, especially single ABC method ignores capital cost. The lack of capital cost is the reason why some products have inaccurate product costs and as results of that they have profit under ABC method but when capital cost is charged to those products, they cause a loss because they consume high invest fund. Imprecise information provided by single ABC method to managers is the reason why managers make inaccurate decisions. How to overcome this limitation of ABC? This paper researches on the integration of ABC with Economic Value Added (EVA™) as one way to overcome its limitation and innovation management accounting. Based on the data provided by Dong Su Company, this paper calculated profits of two customer groups using the new methodology (EVA-ABC) and also the old methodology (single ABC) to show how vague or inaccurate is the results you get when you use the old methodology and how accurate is the results you get when using the new methodology. The calculation showed that under EVA-ABC group 1 generates the value (13%) for this company but group 2 reduces the value of the business and destroy its capital (-8%). However under the single ABC method, the calculation showed that both two customer groups create profits for Dong Su with profit rate are 20% and 4% respectively which was incorrect.
Integrating Activity-Based Costing with Economic Value Added
doi:10.11648/j.jim.20130203.11
Journal of Investment and Management
2014-01-01
© Science Publishing Group
Tandung Huynh
Guangming Gong
Anhtuan Nguyen
Integrating Activity-Based Costing with Economic Value Added
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© Science Publishing Group
Public Procurement of Winter Road Maintenance Services Based on EU Procurement Directive – Lessons from Sweden
http://www.sciencepublishinggroup.com/journal/paperinfo.aspx?journalid=179&doi=10.11648/j.jim.20130204.11
Public procurement of road maintenance services, particularly in cold regions is not an easy task in order to satisfy road-users during winter. Road-users’ dissatisfaction, complaint and pressure can usually be considered as major factors for having more accessible and safe roads during winter. These pressures have contributed and led to an increasing critical approach focusing on public procurement of these services after some harsh winters in the recent years in Sweden with traffic disruption and delay as consequence i.e. an increasing focus on the way in which the Swedish state authorities and local governments procure winter road maintenance services. The present study which is part of a larger research project investigating efficient winter road maintenance through procurement, tendering and contract aimed at extending this knowledge base with regard to procurement and socioeconomic factors with focus on the winter maintenance of the Swedish road network. The study reveals that even the Swedish winter road maintenance services are procured and outsourced in accordance with EU directive and public procurement rules transposed into the Swedish act on public procurement, the act has been interpreted in a manner that all the process has led to great dissatisfaction of end-users during winter due to improper bundling of winter related services. The lack of economic motivation in current contracts concerning winter road maintenance in the form of incentives has led to an inefficient performance of winter road measures. The study suggests a number of proposals in order to make forthcoming contracts more effective through proper bundling of winter services and create incentives for contractors to improve the performance of winter road maintenance services.
Public procurement of road maintenance services, particularly in cold regions is not an easy task in order to satisfy road-users during winter. Road-users’ dissatisfaction, complaint and pressure can usually be considered as major factors for having more accessible and safe roads during winter. These pressures have contributed and led to an increasing critical approach focusing on public procurement of these services after some harsh winters in the recent years in Sweden with traffic disruption and delay as consequence i.e. an increasing focus on the way in which the Swedish state authorities and local governments procure winter road maintenance services. The present study which is part of a larger research project investigating efficient winter road maintenance through procurement, tendering and contract aimed at extending this knowledge base with regard to procurement and socioeconomic factors with focus on the winter maintenance of the Swedish road network. The study reveals that even the Swedish winter road maintenance services are procured and outsourced in accordance with EU directive and public procurement rules transposed into the Swedish act on public procurement, the act has been interpreted in a manner that all the process has led to great dissatisfaction of end-users during winter due to improper bundling of winter related services. The lack of economic motivation in current contracts concerning winter road maintenance in the form of incentives has led to an inefficient performance of winter road measures. The study suggests a number of proposals in order to make forthcoming contracts more effective through proper bundling of winter services and create incentives for contractors to improve the performance of winter road maintenance services.
Public Procurement of Winter Road Maintenance Services Based on EU Procurement Directive – Lessons from Sweden
doi:10.11648/j.jim.20130204.11
Journal of Investment and Management
2014-01-01
© Science Publishing Group
Adel Abdi
Hans Lind
Björn Birgisson
Public Procurement of Winter Road Maintenance Services Based on EU Procurement Directive – Lessons from Sweden
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© Science Publishing Group
Do Financial Market Lead to Economic Growth? A Causality Test in Jordan
http://www.sciencepublishinggroup.com/journal/paperinfo.aspx?journalid=179&doi=10.11648/j.jim.20130205.11
This study investigates empirically into the acclaimed positive role played financial market leading growth, with evidence from the Jordan financial market. Utilising, several econometric techniques models, such as unit root test, co-integration test and formal tests of causality developed by C.J. Granger and yearly Jordan data for the period 1980-2012. Results show that both Engle-Granger and Johansen co-integration test support the view that there is a short-run and long-run relationship between financial market development and economic growth in Jordan. On the other hand, there was no evidence to support the view that financial market in Jordan is a leading sector in the process of the country’s economic development. In particular, the causality relationship between financial market development and economic growth in Jordan is bi-directional. Higher development in the financial market causes higher real economic growth. High economic growth in turn promotes development in the financial market. This study’s results will be useful in reaching policy decisions to develop financial markets to increase economic growth in developing countries or/ emerging economies, in general, and within Jordan, in particular. Furthermore, providing empirical evidence regarding this critical issue within specific emerging economies will add to the literature on financial market related to the role of financial market development and its influence on economic growth and, thus, initiate an exciting topic for research.
This study investigates empirically into the acclaimed positive role played financial market leading growth, with evidence from the Jordan financial market. Utilising, several econometric techniques models, such as unit root test, co-integration test and formal tests of causality developed by C.J. Granger and yearly Jordan data for the period 1980-2012. Results show that both Engle-Granger and Johansen co-integration test support the view that there is a short-run and long-run relationship between financial market development and economic growth in Jordan. On the other hand, there was no evidence to support the view that financial market in Jordan is a leading sector in the process of the country’s economic development. In particular, the causality relationship between financial market development and economic growth in Jordan is bi-directional. Higher development in the financial market causes higher real economic growth. High economic growth in turn promotes development in the financial market. This study’s results will be useful in reaching policy decisions to develop financial markets to increase economic growth in developing countries or/ emerging economies, in general, and within Jordan, in particular. Furthermore, providing empirical evidence regarding this critical issue within specific emerging economies will add to the literature on financial market related to the role of financial market development and its influence on economic growth and, thus, initiate an exciting topic for research.
Do Financial Market Lead to Economic Growth? A Causality Test in Jordan
doi:10.11648/j.jim.20130205.11
Journal of Investment and Management
2014-01-01
© Science Publishing Group
Najeb Masoud
Glenn Hardaker
Do Financial Market Lead to Economic Growth? A Causality Test in Jordan
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103
2014-01-01
2014-01-01
10.11648/j.jim.20130205.11
http://www.sciencepublishinggroup.com/journal/paperinfo.aspx?journalid=179&doi=10.11648/j.jim.20130205.11
© Science Publishing Group
A Comparative Analysis of Deposit Products in Banking Industry: An Opportunity for Eastern Bank Ltd.
http://www.sciencepublishinggroup.com/journal/paperinfo.aspx?journalid=179&doi=10.11648/j.jim.20140301.12
Eastern Bank Limited (EBL) is a second generation commercial bank with urban banking focus. It is offering various deposit account products under consumer banking. There are ample opportunities to explore and expand the existing customer base. The end result would be an increase in revenues of the bank. This is an exploratory research where a comparative analysis of the deposit products in banking industry has been executed and opportunities for Eastern Bank Ltd. have been identified. Several analytical tools (Comparative Study, Strategic Group Mapping analysis, SWOT etc.) has been used to analyze the findings. The researcher collected data from secondary sources. For the purpose of comparison, two types of deposit products are taken into consideration, namely: Savings Account / Special Savings Accounts and Term Deposit Accounts. After analyzing the existing product offering, market exploration and growth, EBL should offer some of the term deposit products as well as savings products with its existing products. The costs associated with the products must be considered and EBL should offer the products with significant intervals which would give the operators and sales team ample scope and time to get used to the products. Amongst the options stated above, the products that can be offered are: EBL Prepaid Savings Account; EBL Senior Citizen Account; EBL Privileged Account; EBL Millionaire Scheme; EBL Children’s Education Savings Plan; EBL Holiday Plan/Wedding Plan; EBL Senior Citizen Deposit Scheme/Retirement Deposit Scheme; EBL Interest First Scheme; EBL Home Deposit Plan.
Eastern Bank Limited (EBL) is a second generation commercial bank with urban banking focus. It is offering various deposit account products under consumer banking. There are ample opportunities to explore and expand the existing customer base. The end result would be an increase in revenues of the bank. This is an exploratory research where a comparative analysis of the deposit products in banking industry has been executed and opportunities for Eastern Bank Ltd. have been identified. Several analytical tools (Comparative Study, Strategic Group Mapping analysis, SWOT etc.) has been used to analyze the findings. The researcher collected data from secondary sources. For the purpose of comparison, two types of deposit products are taken into consideration, namely: Savings Account / Special Savings Accounts and Term Deposit Accounts. After analyzing the existing product offering, market exploration and growth, EBL should offer some of the term deposit products as well as savings products with its existing products. The costs associated with the products must be considered and EBL should offer the products with significant intervals which would give the operators and sales team ample scope and time to get used to the products. Amongst the options stated above, the products that can be offered are: EBL Prepaid Savings Account; EBL Senior Citizen Account; EBL Privileged Account; EBL Millionaire Scheme; EBL Children’s Education Savings Plan; EBL Holiday Plan/Wedding Plan; EBL Senior Citizen Deposit Scheme/Retirement Deposit Scheme; EBL Interest First Scheme; EBL Home Deposit Plan.
A Comparative Analysis of Deposit Products in Banking Industry: An Opportunity for Eastern Bank Ltd.
doi:10.11648/j.jim.20140301.12
Journal of Investment and Management
2014-01-01
© Science Publishing Group
Md. Ariful Islam
Proshenjit Ghosh
A Comparative Analysis of Deposit Products in Banking Industry: An Opportunity for Eastern Bank Ltd.
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1
20
20
2014-01-01
2014-01-01
10.11648/j.jim.20140301.12
http://www.sciencepublishinggroup.com/journal/paperinfo.aspx?journalid=179&doi=10.11648/j.jim.20140301.12
© Science Publishing Group
Cognitive Approach to the Analysis and Choice of Innovation Strategies of the Enterprises
http://www.sciencepublishinggroup.com/journal/paperinfo.aspx?journalid=179&doi=10.11648/j.jim.20140301.11
The article considers the problem of the analysis and choice of innovation strategies of the small and medium-sized enterprises in modern complicated unstable economic conditions. Difficulties of solving this problem at the early conceptual design stage interfaced to high uncertainty and risk are marked. For the problem decision are offered the cognitive technologies of support which are today the most effective and perspective tools for analysis and management of ill-structured problematic situations and, in particular, problematic situations of choice of enterprise innovation strategies. The proposed technology allows building a unified multi-disciplinary platform that integrates instrumental potentials all known business-concepts of innovation management. "Inference mechanism", developed as a part of this technology allows investigating the long-term dynamics of innovation strategies in the context of changing business environment and strategy targets of stakeholders. The aim of the article is to demonstrate the applied capacity of cognitive technologies, specifics of their building and the prospects of their use in the real conditions of innovation business.
The article considers the problem of the analysis and choice of innovation strategies of the small and medium-sized enterprises in modern complicated unstable economic conditions. Difficulties of solving this problem at the early conceptual design stage interfaced to high uncertainty and risk are marked. For the problem decision are offered the cognitive technologies of support which are today the most effective and perspective tools for analysis and management of ill-structured problematic situations and, in particular, problematic situations of choice of enterprise innovation strategies. The proposed technology allows building a unified multi-disciplinary platform that integrates instrumental potentials all known business-concepts of innovation management. "Inference mechanism", developed as a part of this technology allows investigating the long-term dynamics of innovation strategies in the context of changing business environment and strategy targets of stakeholders. The aim of the article is to demonstrate the applied capacity of cognitive technologies, specifics of their building and the prospects of their use in the real conditions of innovation business.
Cognitive Approach to the Analysis and Choice of Innovation Strategies of the Enterprises
doi:10.11648/j.jim.20140301.11
Journal of Investment and Management
2014-01-01
© Science Publishing Group
Robert A. Karayev
Cognitive Approach to the Analysis and Choice of Innovation Strategies of the Enterprises
3
1
6
6
2014-01-01
2014-01-01
10.11648/j.jim.20140301.11
http://www.sciencepublishinggroup.com/journal/paperinfo.aspx?journalid=179&doi=10.11648/j.jim.20140301.11
© Science Publishing Group
Adoption of International Public Sector Accounting Standards in Nigeria: Expectations, Benefits and Challenges
http://www.sciencepublishinggroup.com/journal/paperinfo.aspx?journalid=179&doi=10.11648/j.jim.20140301.13
This study examined the expectations, benefits and challenges of adoption of International Public Sector Accounting Standards (IPSAS) in Nigeria. The objectives of this study are determining the impact of adoption of IPSAS on the Level of Accountability and Transparency in the Public Sector of Nigeria and to ascertain the contribution of adoption of IPSAS in enhancing comparability and international best practices. Primary source of data was employed to generate the data of interest. The statistical tools employed were the Chi-square test, Kruskal Wallis test and descriptive analysis. From the findings of the study, it was observed that adoption of IPSAS is expected to increase the level of accountability and transparency in public sector of Nigeria. It was found that the adoption of IPSAS will enhance comparability and international best practices. Also, it was denoted that adoption of IPSAS based standards will enable provide more meaningful information for decision makers and improve the quality of the financial reporting system in Nigeria. In addition, it was found that adoption of IPSAS by Nigerian government will improve comparability of financial information reported by public sector entities in Nigeria and around the world. Hence, we conclude that the adoption of IPSAS in Nigeria is expected to impact operating procedures, reporting practices thereby strengthening good governance and relations with the government and the governed.
This study examined the expectations, benefits and challenges of adoption of International Public Sector Accounting Standards (IPSAS) in Nigeria. The objectives of this study are determining the impact of adoption of IPSAS on the Level of Accountability and Transparency in the Public Sector of Nigeria and to ascertain the contribution of adoption of IPSAS in enhancing comparability and international best practices. Primary source of data was employed to generate the data of interest. The statistical tools employed were the Chi-square test, Kruskal Wallis test and descriptive analysis. From the findings of the study, it was observed that adoption of IPSAS is expected to increase the level of accountability and transparency in public sector of Nigeria. It was found that the adoption of IPSAS will enhance comparability and international best practices. Also, it was denoted that adoption of IPSAS based standards will enable provide more meaningful information for decision makers and improve the quality of the financial reporting system in Nigeria. In addition, it was found that adoption of IPSAS by Nigerian government will improve comparability of financial information reported by public sector entities in Nigeria and around the world. Hence, we conclude that the adoption of IPSAS in Nigeria is expected to impact operating procedures, reporting practices thereby strengthening good governance and relations with the government and the governed.
Adoption of International Public Sector Accounting Standards in Nigeria: Expectations, Benefits and Challenges
doi:10.11648/j.jim.20140301.13
Journal of Investment and Management
2014-01-01
© Science Publishing Group
Ijeoma. N. B.
Oghoghomeh. T.
Adoption of International Public Sector Accounting Standards in Nigeria: Expectations, Benefits and Challenges
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29
29
2014-01-01
2014-01-01
10.11648/j.jim.20140301.13
http://www.sciencepublishinggroup.com/journal/paperinfo.aspx?journalid=179&doi=10.11648/j.jim.20140301.13
© Science Publishing Group
To Survey the Effect of Working Capital Policies (Investing & Financing) on Profitability Risk (Evidence from Tehran Stock Exchange)
http://www.sciencepublishinggroup.com/journal/paperinfo.aspx?journalid=179&doi=10.11648/j.jim.20140301.14
Managers can increase the firm value by using the effective working capital policies. The corporate value maximization strategy is executed with a focus on return and risk. This study investigates the relationship between aggressive/conservative working capital policies and profitability risk in Tehran stock exchange listed companies. The sample includes 274 companies over the period 2006-2012. The results in all industries indicate a negative relationship between working capital investment policy and profitability risk measures. And there is a positive relationship between working capital financing policy and profitability risk measures. It means that, more the companies use conservative working capital policy, it will lead to decreasing profitability risk. And more the companies use aggressive working capital policy, it will lead to increasing profitability risk.
Managers can increase the firm value by using the effective working capital policies. The corporate value maximization strategy is executed with a focus on return and risk. This study investigates the relationship between aggressive/conservative working capital policies and profitability risk in Tehran stock exchange listed companies. The sample includes 274 companies over the period 2006-2012. The results in all industries indicate a negative relationship between working capital investment policy and profitability risk measures. And there is a positive relationship between working capital financing policy and profitability risk measures. It means that, more the companies use conservative working capital policy, it will lead to decreasing profitability risk. And more the companies use aggressive working capital policy, it will lead to increasing profitability risk.
To Survey the Effect of Working Capital Policies (Investing & Financing) on Profitability Risk (Evidence from Tehran Stock Exchange)
doi:10.11648/j.jim.20140301.14
Journal of Investment and Management
2014-01-01
© Science Publishing Group
Mohammad Hassani
Arezoo Rajab Tavosi
To Survey the Effect of Working Capital Policies (Investing & Financing) on Profitability Risk (Evidence from Tehran Stock Exchange)
3
1
36
36
2014-01-01
2014-01-01
10.11648/j.jim.20140301.14
http://www.sciencepublishinggroup.com/journal/paperinfo.aspx?journalid=179&doi=10.11648/j.jim.20140301.14
© Science Publishing Group
The Pledge Rate Research of Copper and Zinc Inventory Portfolio Based on Copula-VaR Method
http://www.sciencepublishinggroup.com/journal/paperinfo.aspx?journalid=179&doi=10.11648/j.jim.20140302.11
This paper selects copper and zinc as a stock portfolio of mortgage financing. It calculates stock portfolio return risk by the value at risk method, introduces Copula function to measure the two pledges' relationship, simulates portfolio yield trend by Monte Carlo method to get Var value. At last compare Copula-Var method with traditional method, The new method can reflect more collateral prices spike characteristics, estimated loss better when value at risk. The conclusion of the study establishes the foundation for further study on the theory and methods of inventory financing portfolio.
This paper selects copper and zinc as a stock portfolio of mortgage financing. It calculates stock portfolio return risk by the value at risk method, introduces Copula function to measure the two pledges' relationship, simulates portfolio yield trend by Monte Carlo method to get Var value. At last compare Copula-Var method with traditional method, The new method can reflect more collateral prices spike characteristics, estimated loss better when value at risk. The conclusion of the study establishes the foundation for further study on the theory and methods of inventory financing portfolio.
The Pledge Rate Research of Copper and Zinc Inventory Portfolio Based on Copula-VaR Method
doi:10.11648/j.jim.20140302.11
Journal of Investment and Management
2014-08-05
© Science Publishing Group
Li Zhou
Jing Dong
The Pledge Rate Research of Copper and Zinc Inventory Portfolio Based on Copula-VaR Method
3
2
41
41
2014-08-05
2014-08-05
10.11648/j.jim.20140302.11
http://www.sciencepublishinggroup.com/journal/paperinfo.aspx?journalid=179&doi=10.11648/j.jim.20140302.11
© Science Publishing Group
Rethinking Target’s Private Equity Process in Turnaround Situations
http://www.sciencepublishinggroup.com/journal/paperinfo.aspx?journalid=179&doi=10.11648/j.jim.20140303.11
Given the increasing role of PE investments in restructuring the trend of acquisitions, its process needs an organizational change in order to cope with crisis situations. Despite several papers have emphasized the important role of PE both in M&A transactions and in turnaround situations no research crosses these two aspects. This paper bridge this gap, proposing a rethinking of the target’s PE Process in turnaround situations creating value for the target and preparing it for the takeover. This purpose is achieved throughout a literature review and the description of a new PE process throughout the paradigmatic case study of the sport company Brown Ltd. Finally corrective actions are implemented. Results show how a turnaround situation needs a new PE process, developed in 3 main phases (crisis analysis, recover and development) through which it creates value for the target. Main limits consist in the application of the new PE process to a single case study and the lack of an empirical support able to generalize it. The findings help identify drawbacks and set an agenda for future work. This new process could be tested also on other industries and firms of different size, providing a practical adaptation of the PE process in crisis situations and adopted by consulting agencies after testing also its effects in the long term.
Given the increasing role of PE investments in restructuring the trend of acquisitions, its process needs an organizational change in order to cope with crisis situations. Despite several papers have emphasized the important role of PE both in M&A transactions and in turnaround situations no research crosses these two aspects. This paper bridge this gap, proposing a rethinking of the target’s PE Process in turnaround situations creating value for the target and preparing it for the takeover. This purpose is achieved throughout a literature review and the description of a new PE process throughout the paradigmatic case study of the sport company Brown Ltd. Finally corrective actions are implemented. Results show how a turnaround situation needs a new PE process, developed in 3 main phases (crisis analysis, recover and development) through which it creates value for the target. Main limits consist in the application of the new PE process to a single case study and the lack of an empirical support able to generalize it. The findings help identify drawbacks and set an agenda for future work. This new process could be tested also on other industries and firms of different size, providing a practical adaptation of the PE process in crisis situations and adopted by consulting agencies after testing also its effects in the long term.
Rethinking Target’s Private Equity Process in Turnaround Situations
doi:10.11648/j.jim.20140303.11
Journal of Investment and Management
2014-09-20
© Science Publishing Group
Giuseppe Tardivo
Milena Viassone
Marco Vulpiani
Rethinking Target’s Private Equity Process in Turnaround Situations
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3
50
50
2014-09-20
2014-09-20
10.11648/j.jim.20140303.11
http://www.sciencepublishinggroup.com/journal/paperinfo.aspx?journalid=179&doi=10.11648/j.jim.20140303.11
© Science Publishing Group
The Macroeconomic and Environmental Determinants of Private Equity in Emerging Asia Market: The Application of Extreme Bounds Analysis
http://www.sciencepublishinggroup.com/journal/paperinfo.aspx?journalid=179&doi=10.11648/j.jim.20140303.12
There is a great debate on the significance of the stable economic and well structure legal system on the commercialization, innovation and employment in modern economies. Private equity activities play a significant role in these three aspects. The purpose of this work is to investigate the macroeconomic and environmental determinants of private equity investment in nine major Asian countries. The estimations are based on a data set running from 2004 to 2013. Applying robust estimation techniques Extreme Bounds Analysis, this work identifies growth in domestic product growth, corporation tax rate, disclosure index and investors’ protection index as 'robust' set of determinants of private equity. Also, inflation, stock market value, property right index, legal costs, lending rate and time in days to start business as likely robust. The result suggests the need to enhance business confidence in the country not only through robust monetary and fiscal policy but also legal system.
There is a great debate on the significance of the stable economic and well structure legal system on the commercialization, innovation and employment in modern economies. Private equity activities play a significant role in these three aspects. The purpose of this work is to investigate the macroeconomic and environmental determinants of private equity investment in nine major Asian countries. The estimations are based on a data set running from 2004 to 2013. Applying robust estimation techniques Extreme Bounds Analysis, this work identifies growth in domestic product growth, corporation tax rate, disclosure index and investors’ protection index as 'robust' set of determinants of private equity. Also, inflation, stock market value, property right index, legal costs, lending rate and time in days to start business as likely robust. The result suggests the need to enhance business confidence in the country not only through robust monetary and fiscal policy but also legal system.
The Macroeconomic and Environmental Determinants of Private Equity in Emerging Asia Market: The Application of Extreme Bounds Analysis
doi:10.11648/j.jim.20140303.12
Journal of Investment and Management
2014-09-29
© Science Publishing Group
Isaiah Oino
The Macroeconomic and Environmental Determinants of Private Equity in Emerging Asia Market: The Application of Extreme Bounds Analysis
3
3
60
60
2014-09-29
2014-09-29
10.11648/j.jim.20140303.12
http://www.sciencepublishinggroup.com/journal/paperinfo.aspx?journalid=179&doi=10.11648/j.jim.20140303.12
© Science Publishing Group
Corporate Social Responsibility in India Inc.: Are They Spending Right
http://www.sciencepublishinggroup.com/journal/paperinfo.aspx?journalid=179&doi=10.11648/j.jim.20150401.12
In a landmark legislation new companies bill was passed in 2013. The scholars and practitioners welcomed the bill with unprecedented enthusiasm and fanfare. Some even claimed it to be the most progressive bill ever passed in the history of independent India. Amongst many provisions, one that has caught maximum attention is a 2% mandatory spending on CSR activities for companies making Rs. 5 Crores (USD 800,000 approx) or more in profits after tax. One should have the courage to cast a doubt on the good intent and immense possibilities that this legislation offers. Yet, going by the history of businesses in India, both public and privately owned enterprises have been quite reluctant to spend on the social initiatives. Even though the bill appears very promising in its intent, it is not very apparent how the businesses will respond to it. The paper brings out the patterns of large corporate spending on social activities in the past to assess the sector preference of businesses, to somewhere assess are they appending right.
In a landmark legislation new companies bill was passed in 2013. The scholars and practitioners welcomed the bill with unprecedented enthusiasm and fanfare. Some even claimed it to be the most progressive bill ever passed in the history of independent India. Amongst many provisions, one that has caught maximum attention is a 2% mandatory spending on CSR activities for companies making Rs. 5 Crores (USD 800,000 approx) or more in profits after tax. One should have the courage to cast a doubt on the good intent and immense possibilities that this legislation offers. Yet, going by the history of businesses in India, both public and privately owned enterprises have been quite reluctant to spend on the social initiatives. Even though the bill appears very promising in its intent, it is not very apparent how the businesses will respond to it. The paper brings out the patterns of large corporate spending on social activities in the past to assess the sector preference of businesses, to somewhere assess are they appending right.
Corporate Social Responsibility in India Inc.: Are They Spending Right
doi:10.11648/j.jim.20150401.12
Journal of Investment and Management
2015-07-23
© Science Publishing Group
Jagannath Mohanty
Corporate Social Responsibility in India Inc.: Are They Spending Right
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1
13
13
2015-07-23
2015-07-23
10.11648/j.jim.20150401.12
http://www.sciencepublishinggroup.com/journal/paperinfo.aspx?journalid=179&doi=10.11648/j.jim.20150401.12
© Science Publishing Group
Falling Oil Price, Exchange Rate Volatility and Marco-economic Variables in Nigeria
http://www.sciencepublishinggroup.com/journal/paperinfo.aspx?journalid=179&doi=10.11648/j.jim.20150401.14
With the oil price at low level in Nigeria, exchange rate volatility has been manifested at different exchange rate regimes in Nigeria, the study look at the relationship between exchange rate volatility and Macroeconomics variables in Nigeria between 1985-2014. Secondary data were collected from Central Bank Statistical Bulletin, employing Johansen Error Correction Model (ECM) Technique to estimate the collected time-series data and General Conditional Heteroskedasticity (GARCH) to measure volatility. It is therefore observed and recommended that the Nigeria government should employ greater policy sensitivity towards the openness of the economy so that the capital flows that come through foreign direct investment (FDI) will be beneficial to the economy as a whole.
With the oil price at low level in Nigeria, exchange rate volatility has been manifested at different exchange rate regimes in Nigeria, the study look at the relationship between exchange rate volatility and Macroeconomics variables in Nigeria between 1985-2014. Secondary data were collected from Central Bank Statistical Bulletin, employing Johansen Error Correction Model (ECM) Technique to estimate the collected time-series data and General Conditional Heteroskedasticity (GARCH) to measure volatility. It is therefore observed and recommended that the Nigeria government should employ greater policy sensitivity towards the openness of the economy so that the capital flows that come through foreign direct investment (FDI) will be beneficial to the economy as a whole.
Falling Oil Price, Exchange Rate Volatility and Marco-economic Variables in Nigeria
doi:10.11648/j.jim.20150401.14
Journal of Investment and Management
2015-07-28
© Science Publishing Group
Olure Bank Adeyinka Michael
Gbadebo Salako
Ajiteru Temilade
Falling Oil Price, Exchange Rate Volatility and Marco-economic Variables in Nigeria
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2015-07-28
2015-07-28
10.11648/j.jim.20150401.14
http://www.sciencepublishinggroup.com/journal/paperinfo.aspx?journalid=179&doi=10.11648/j.jim.20150401.14
© Science Publishing Group
Knowledge-Based Strategic Management of Engineering and Basic Sciences for Achieving the New Technologies
http://www.sciencepublishinggroup.com/journal/paperinfo.aspx?journalid=179&doi=10.11648/j.jim.20150401.15
The knowledge-based management and strategy is involved in all human intellectual aspects and performance. The achievement of power, knowledge and innovation in new technologies directly depend on the appropriate strategic management and is along with the future study on the knowledge and sciences. Nowadays, it is impossible to have single access to modern technology and equipment because of the frequency and wide spread of information and increased different ranges of sciences. The governments have been successful in promoting their unique infrastructures of basic sciences and engineering until now according to their power and dominance in technology and industry; and prediction and empowerment of infrastructures for development in science and technology is dependent on the macro strategic management of government. Therefore, the international interactions and access to today's scientific information are essential to achieve the knowledge-based management of engineering and basic sciences. Therefore, the long-term objectives of knowledge production and access to new techniques are among the basics of innovation in the industry. To achieve a modern and industrial society, the appropriate management and foresight in producing and disseminating the knowledge have a major impact on the way of applying and guiding the efficient potential of human capital. The experts and policy makers in developed countries have deeply acknowledged that the potential for sustainable development in all scientific, social, economic, cultural and political aspects needs the knowledge-based strategic management. According to the way of dissemination and progress of sciences in developed countries, we find out that the specific strategies have been developed for sustainable development in technology and innovation. The authors in this paper have conducted an overview of new knowledge-based management structures and selected the appropriate strategic policies in sustainable science and technology development of developing and semi-industrial countries.
The knowledge-based management and strategy is involved in all human intellectual aspects and performance. The achievement of power, knowledge and innovation in new technologies directly depend on the appropriate strategic management and is along with the future study on the knowledge and sciences. Nowadays, it is impossible to have single access to modern technology and equipment because of the frequency and wide spread of information and increased different ranges of sciences. The governments have been successful in promoting their unique infrastructures of basic sciences and engineering until now according to their power and dominance in technology and industry; and prediction and empowerment of infrastructures for development in science and technology is dependent on the macro strategic management of government. Therefore, the international interactions and access to today's scientific information are essential to achieve the knowledge-based management of engineering and basic sciences. Therefore, the long-term objectives of knowledge production and access to new techniques are among the basics of innovation in the industry. To achieve a modern and industrial society, the appropriate management and foresight in producing and disseminating the knowledge have a major impact on the way of applying and guiding the efficient potential of human capital. The experts and policy makers in developed countries have deeply acknowledged that the potential for sustainable development in all scientific, social, economic, cultural and political aspects needs the knowledge-based strategic management. According to the way of dissemination and progress of sciences in developed countries, we find out that the specific strategies have been developed for sustainable development in technology and innovation. The authors in this paper have conducted an overview of new knowledge-based management structures and selected the appropriate strategic policies in sustainable science and technology development of developing and semi-industrial countries.
Knowledge-Based Strategic Management of Engineering and Basic Sciences for Achieving the New Technologies
doi:10.11648/j.jim.20150401.15
Journal of Investment and Management
2015-07-28
© Science Publishing Group
Arezu Jahanshir
Knowledge-Based Strategic Management of Engineering and Basic Sciences for Achieving the New Technologies
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37
37
2015-07-28
2015-07-28
10.11648/j.jim.20150401.15
http://www.sciencepublishinggroup.com/journal/paperinfo.aspx?journalid=179&doi=10.11648/j.jim.20150401.15
© Science Publishing Group
Statistical Analysis of the Role of Internal Audit in Promoting Good Governance in Public Institutions in Kenya
http://www.sciencepublishinggroup.com/journal/paperinfo.aspx?journalid=179&doi=10.11648/j.jim.20150401.16
Internal Auditing has increasingly been recognized as an integral part of modern control structures and governance practices in both the private sector and public service. It has also been adding value in organizations across all sectors for many years in order to fight against the global financial crisis and recent cases of corporate frauds that have brought into sharp focus the consequence of the precarious role to be played by the internal auditors in ensuring good corporate governance. The main objective of this study was to find out how the Risk Management, Control Process and Governance Process, which are functions of internal auditing are being recognized today at high level in many organizations, especially in public Sectors, when well structured and given the required mandate to perform, improves performance and serves as valuable contributors in Promoting good governance in its functions which are accountability, transparency, effectiveness & efficiency and responsiveness in the public institutions in Kenya. The research adopted both the descriptive and correlation research designs in order to be successful, where 370 out of 398 respondents, sampled from eighteen (18) public institutions, completed a structured questionnaire. The events were recorded; analyzed, interpreted and described by using SPSS version 20 and the specific tools that were adopted in order to identify the levels of contribution of Internal Audit in Good Governance in the public institutions, respondent responses were determined by their demographic profiles. Parametric statistics were used to derive a meaningful conclusion from the empirical data using tools like descriptive statistics, t-test and Pearson Correlation. The study concluded that there is a strong significant relationship between Internal Audit and Good Governance in Public institutions.
Internal Auditing has increasingly been recognized as an integral part of modern control structures and governance practices in both the private sector and public service. It has also been adding value in organizations across all sectors for many years in order to fight against the global financial crisis and recent cases of corporate frauds that have brought into sharp focus the consequence of the precarious role to be played by the internal auditors in ensuring good corporate governance. The main objective of this study was to find out how the Risk Management, Control Process and Governance Process, which are functions of internal auditing are being recognized today at high level in many organizations, especially in public Sectors, when well structured and given the required mandate to perform, improves performance and serves as valuable contributors in Promoting good governance in its functions which are accountability, transparency, effectiveness & efficiency and responsiveness in the public institutions in Kenya. The research adopted both the descriptive and correlation research designs in order to be successful, where 370 out of 398 respondents, sampled from eighteen (18) public institutions, completed a structured questionnaire. The events were recorded; analyzed, interpreted and described by using SPSS version 20 and the specific tools that were adopted in order to identify the levels of contribution of Internal Audit in Good Governance in the public institutions, respondent responses were determined by their demographic profiles. Parametric statistics were used to derive a meaningful conclusion from the empirical data using tools like descriptive statistics, t-test and Pearson Correlation. The study concluded that there is a strong significant relationship between Internal Audit and Good Governance in Public institutions.
Statistical Analysis of the Role of Internal Audit in Promoting Good Governance in Public Institutions in Kenya
doi:10.11648/j.jim.20150401.16
Journal of Investment and Management
2015-07-29
© Science Publishing Group
Kennedy Sakaya Barasa
Statistical Analysis of the Role of Internal Audit in Promoting Good Governance in Public Institutions in Kenya
4
1
46
46
2015-07-29
2015-07-29
10.11648/j.jim.20150401.16
http://www.sciencepublishinggroup.com/journal/paperinfo.aspx?journalid=179&doi=10.11648/j.jim.20150401.16
© Science Publishing Group
An Experimental Research of Small Hydropower Plant Investments Selection in Turkey by Carrot2, DEXi, DEXiTree
http://www.sciencepublishinggroup.com/journal/paperinfo.aspx?journalid=179&doi=10.11648/j.jim.20150401.17
Nowadays, human daily lives depend very much to electricity. Hence, electricity generation plays a key role not only in countries' economies, but also in people's welfare and comfort in any region. This situation isn't also different for Turkey. Turkish electricity generation policy gives the opportunity for foreign and domestic private investments plans and schemes. Private investors have many private power plant investment options to invest in Turkey. One of the main groups is hydropower plants. Small hydropower plant investments are grouped under the hydropower plant investments. Their characteristics are very different from other types of hydropower plants. This experimental research study investigates the possibility of using a qualitative Multi Attribute Decision Making (MADM) model based on DEXi (Decision EXpert for Education) and DEXiTree software. Attributes in the current experimental research model are analyzed by help of a text mining tool Carrot2. In the experimental case study, the most appropriate small hydropower plant investments amongst five alternative ones at the predevelopment investment stages (an assumption) in Turkey are evaluated, and prioritized by help of seventeen basic factors (catchment area, project runoff, net head, discharge, firm energy, secondary energy, investment cost, river basin, conveyance structure, community attitude, transportation, topography, geology, security conditions, terrorism conditions, protected areas, substation conditions) based on the experimental DEXi decision model. There are some interesting findings such as Option 5 gets the highest priority in the overall experimental decision model. Similarly, Option 5 has the very good preference in the objective attributes evaluation. Option 3 comes afterwards with the good preference. But, both Option 4 and Option 5 get the good preference in the subjective attributes evaluation. The DEXi model file (*.dxi) is also presented to readers for giving opportunity to readers for preparing their models based on this experimental research model. This experimental research study is seen as another very small research step to deeply understand the nature of the small hydropower plants investments decisions in the way of developing an autonomous computer based intelligent decision support system for the real world cases.
Nowadays, human daily lives depend very much to electricity. Hence, electricity generation plays a key role not only in countries' economies, but also in people's welfare and comfort in any region. This situation isn't also different for Turkey. Turkish electricity generation policy gives the opportunity for foreign and domestic private investments plans and schemes. Private investors have many private power plant investment options to invest in Turkey. One of the main groups is hydropower plants. Small hydropower plant investments are grouped under the hydropower plant investments. Their characteristics are very different from other types of hydropower plants. This experimental research study investigates the possibility of using a qualitative Multi Attribute Decision Making (MADM) model based on DEXi (Decision EXpert for Education) and DEXiTree software. Attributes in the current experimental research model are analyzed by help of a text mining tool Carrot2. In the experimental case study, the most appropriate small hydropower plant investments amongst five alternative ones at the predevelopment investment stages (an assumption) in Turkey are evaluated, and prioritized by help of seventeen basic factors (catchment area, project runoff, net head, discharge, firm energy, secondary energy, investment cost, river basin, conveyance structure, community attitude, transportation, topography, geology, security conditions, terrorism conditions, protected areas, substation conditions) based on the experimental DEXi decision model. There are some interesting findings such as Option 5 gets the highest priority in the overall experimental decision model. Similarly, Option 5 has the very good preference in the objective attributes evaluation. Option 3 comes afterwards with the good preference. But, both Option 4 and Option 5 get the good preference in the subjective attributes evaluation. The DEXi model file (*.dxi) is also presented to readers for giving opportunity to readers for preparing their models based on this experimental research model. This experimental research study is seen as another very small research step to deeply understand the nature of the small hydropower plants investments decisions in the way of developing an autonomous computer based intelligent decision support system for the real world cases.
An Experimental Research of Small Hydropower Plant Investments Selection in Turkey by Carrot2, DEXi, DEXiTree
doi:10.11648/j.jim.20150401.17
Journal of Investment and Management
2015-07-29
© Science Publishing Group
Burak Omer Saracoglu
An Experimental Research of Small Hydropower Plant Investments Selection in Turkey by Carrot2, DEXi, DEXiTree
4
1
60
60
2015-07-29
2015-07-29
10.11648/j.jim.20150401.17
http://www.sciencepublishinggroup.com/journal/paperinfo.aspx?journalid=179&doi=10.11648/j.jim.20150401.17
© Science Publishing Group
Influence of Gender in the Saving Culture of Sacco Members in Nyandarua County, Kenya
http://www.sciencepublishinggroup.com/journal/paperinfo.aspx?journalid=179&doi=10.11648/j.jim.20150401.13
Saving is a key component in any development endeavor as it is believed to be the surest way of increasing income and boosting productivity in an attempt to break through the vicious cycle of poverty. A number of studies have demonstrated that the investment and retirement saving behaviors of women and men differ. However, inconsistencies in findings exist in the few studies conducted on the differences in general saving behaviors between men and women. The purpose of this study was to establish gender differences in saving culture with a special bias on SACCO members. Specifically, the study aimed at assessing the influence of income levels on saving culture; evaluate the effect of marital status on saving culture and establish the influence of age on saving culture of SACCO members in Nyandarua County. The research adopted a descriptive survey design and targeted all business and agricultural based SACCO members and officials in Nyandarua County. 18 SACCO officials and 375 SACCO members were sampled using purposive and stratified random sampling respectively. The researcher collected data using structured questionnaires. A descriptive analysis of the data after processing involved computing mean, mode and median with the help of Statistical Package of Social Sciences Software and Microsoft Excel and presented in frequency tables and charts. Marital status of the respondents was found to be statistically significant in terms of the annual saving. The result implies that a change in marital status will affect the annual savings negatively. The researcher is 99.952% confidence that the change in marital status will negatively have an impact on annual saving. The researcher recommends nurturing of marriage institution as a way of protecting saving culture among women and men members of the SACCO in Nyandarua County.
Saving is a key component in any development endeavor as it is believed to be the surest way of increasing income and boosting productivity in an attempt to break through the vicious cycle of poverty. A number of studies have demonstrated that the investment and retirement saving behaviors of women and men differ. However, inconsistencies in findings exist in the few studies conducted on the differences in general saving behaviors between men and women. The purpose of this study was to establish gender differences in saving culture with a special bias on SACCO members. Specifically, the study aimed at assessing the influence of income levels on saving culture; evaluate the effect of marital status on saving culture and establish the influence of age on saving culture of SACCO members in Nyandarua County. The research adopted a descriptive survey design and targeted all business and agricultural based SACCO members and officials in Nyandarua County. 18 SACCO officials and 375 SACCO members were sampled using purposive and stratified random sampling respectively. The researcher collected data using structured questionnaires. A descriptive analysis of the data after processing involved computing mean, mode and median with the help of Statistical Package of Social Sciences Software and Microsoft Excel and presented in frequency tables and charts. Marital status of the respondents was found to be statistically significant in terms of the annual saving. The result implies that a change in marital status will affect the annual savings negatively. The researcher is 99.952% confidence that the change in marital status will negatively have an impact on annual saving. The researcher recommends nurturing of marriage institution as a way of protecting saving culture among women and men members of the SACCO in Nyandarua County.
Influence of Gender in the Saving Culture of Sacco Members in Nyandarua County, Kenya
doi:10.11648/j.jim.20150401.13
Journal of Investment and Management
2015-07-25
© Science Publishing Group
Martin Muriithi
Dennis Muriithi
Influence of Gender in the Saving Culture of Sacco Members in Nyandarua County, Kenya
4
1
24
24
2015-07-25
2015-07-25
10.11648/j.jim.20150401.13
http://www.sciencepublishinggroup.com/journal/paperinfo.aspx?journalid=179&doi=10.11648/j.jim.20150401.13
© Science Publishing Group
New Procedure for Assigning Drivers to Work Schedules at a Container Terminal
http://www.sciencepublishinggroup.com/journal/paperinfo.aspx?journalid=179&doi=10.11648/j.jim.20150401.11
One of the success factors of a terminal is related to the time in port for the retrieval and transport of containers. Straddle carriers (SCs) are the pivotal axis around which the terminal transportation system evolves and the success or failure of that process is an indicator of the reliability of the container terminal. Over the last years, the deficiency of efficient control and coordination mechanisms in practice produced a relaxation of transportation principles. The valorization of the academic environment represents nowadays one of the most important research challenges. In this paper, we present a collaborative filtering recommender system able to manage the work schedule’s assignment to straddle carrier’s drivers in a container terminal and provide preliminary results on customer’s satisfaction.
One of the success factors of a terminal is related to the time in port for the retrieval and transport of containers. Straddle carriers (SCs) are the pivotal axis around which the terminal transportation system evolves and the success or failure of that process is an indicator of the reliability of the container terminal. Over the last years, the deficiency of efficient control and coordination mechanisms in practice produced a relaxation of transportation principles. The valorization of the academic environment represents nowadays one of the most important research challenges. In this paper, we present a collaborative filtering recommender system able to manage the work schedule’s assignment to straddle carrier’s drivers in a container terminal and provide preliminary results on customer’s satisfaction.
New Procedure for Assigning Drivers to Work Schedules at a Container Terminal
doi:10.11648/j.jim.20150401.11
Journal of Investment and Management
2015-07-02
© Science Publishing Group
Khaled Mili
Ilhem Elghoul
New Procedure for Assigning Drivers to Work Schedules at a Container Terminal
4
1
8
8
2015-07-02
2015-07-02
10.11648/j.jim.20150401.11
http://www.sciencepublishinggroup.com/journal/paperinfo.aspx?journalid=179&doi=10.11648/j.jim.20150401.11
© Science Publishing Group
Evaluating Performance in the Hotel Industry: An Empirical Analysis of Piedmont
http://www.sciencepublishinggroup.com/journal/paperinfo.aspx?journalid=179&doi=10.11648/j.jim.s.2015040101.13
The hotel industry is a key sector in the tourism industry because it is essential for the supplying of all other tourism services and it is the first service demanded by tourists who reach the destination. To assess hotel’s performance appears a hard task, because of the presence of many factors to consider, economic but also less tangible. The aim of the research is to verify the correlation between performance and its determinants in the context of the Piedmont hotel industry, through valuating a sample of 112 hotels of Piedmont. More in particular, the study in vestigates whether variables as stars rating, dimension and added services provided are correlated to performance, measured by Rev Par (revenue per available room), a performance metric typical of the hotel industry. To reach these goals, the research starts with a literature review, on hotel industry in general and on performance evaluation methods more used in hotel industry. Subsequently, it will be explained the methodology and the assumptions. Finally, it will be provided results discussed on a managerial perspective, useless for management to improve quality and performance.
The hotel industry is a key sector in the tourism industry because it is essential for the supplying of all other tourism services and it is the first service demanded by tourists who reach the destination. To assess hotel’s performance appears a hard task, because of the presence of many factors to consider, economic but also less tangible. The aim of the research is to verify the correlation between performance and its determinants in the context of the Piedmont hotel industry, through valuating a sample of 112 hotels of Piedmont. More in particular, the study in vestigates whether variables as stars rating, dimension and added services provided are correlated to performance, measured by Rev Par (revenue per available room), a performance metric typical of the hotel industry. To reach these goals, the research starts with a literature review, on hotel industry in general and on performance evaluation methods more used in hotel industry. Subsequently, it will be explained the methodology and the assumptions. Finally, it will be provided results discussed on a managerial perspective, useless for management to improve quality and performance.
Evaluating Performance in the Hotel Industry: An Empirical Analysis of Piedmont
doi:10.11648/j.jim.s.2015040101.13
Journal of Investment and Management
2014-12-27
© Science Publishing Group
Gabriele Santoro
Evaluating Performance in the Hotel Industry: An Empirical Analysis of Piedmont
4
1
22
22
2014-12-27
2014-12-27
10.11648/j.jim.s.2015040101.13
http://www.sciencepublishinggroup.com/journal/paperinfo.aspx?journalid=179&doi=10.11648/j.jim.s.2015040101.13
© Science Publishing Group
Alpine Tourism as an Economic Development Factor. A Market Perspective
http://www.sciencepublishinggroup.com/journal/paperinfo.aspx?journalid=179&doi=10.11648/j.jim.s.2015040101.12
Tourism trends and policies is becoming an international reference and benchmark on how effectively countries are supporting competitiveness, innovation and growth, and shed light on policies and practices associated with this. Despite the topic of attractiveness of tourist destinations is at the center of the international economic debate, there are still many areas showing important gap among potentials and performances and in most cases literature doesn’t offer a suitable measure and strategic solutions for this problem. From a destination-based tourism model, the transition has been made to a model driven by motivation and the search of experience. The forces driving the change are: internet, low costs, tour operators, OTAs and the new demand for experiences from tourists, which have changed the rules of the game and, most importantly, altered the balance between supply and demand. The paper has three research goals. Firstly, a driven-based analysis will be presented, aimed at identifying the factors which condition and/or support the sector, briefly touching a legislation, governance, funding and infrastructure and cultural heritage. Subsequently the paper will focus some deficiencies of the tourist system in Italy, still organized according to an endogenous vision of the sector’s development, and based on a model turned to a production perspective in which the offer is placed at the center of the system, with no added value and limited activity in term of retails, marketing and innovation and low level of professional competence. Finally the research will aim to propose a change of the tourism policy in Italy. As well as a reorganization of offer in a more innovative and experienced-based key, to be more competitive Italy needs the role of local government to be extensively reviewed: local administrations will have to take leadership of the destinations, bringing a strategic vision to the territory and becoming the main actor in conceiving and designing the offer of tourism.
Tourism trends and policies is becoming an international reference and benchmark on how effectively countries are supporting competitiveness, innovation and growth, and shed light on policies and practices associated with this. Despite the topic of attractiveness of tourist destinations is at the center of the international economic debate, there are still many areas showing important gap among potentials and performances and in most cases literature doesn’t offer a suitable measure and strategic solutions for this problem. From a destination-based tourism model, the transition has been made to a model driven by motivation and the search of experience. The forces driving the change are: internet, low costs, tour operators, OTAs and the new demand for experiences from tourists, which have changed the rules of the game and, most importantly, altered the balance between supply and demand. The paper has three research goals. Firstly, a driven-based analysis will be presented, aimed at identifying the factors which condition and/or support the sector, briefly touching a legislation, governance, funding and infrastructure and cultural heritage. Subsequently the paper will focus some deficiencies of the tourist system in Italy, still organized according to an endogenous vision of the sector’s development, and based on a model turned to a production perspective in which the offer is placed at the center of the system, with no added value and limited activity in term of retails, marketing and innovation and low level of professional competence. Finally the research will aim to propose a change of the tourism policy in Italy. As well as a reorganization of offer in a more innovative and experienced-based key, to be more competitive Italy needs the role of local government to be extensively reviewed: local administrations will have to take leadership of the destinations, bringing a strategic vision to the territory and becoming the main actor in conceiving and designing the offer of tourism.
Alpine Tourism as an Economic Development Factor. A Market Perspective
doi:10.11648/j.jim.s.2015040101.12
Journal of Investment and Management
2014-12-27
© Science Publishing Group
Giuseppe Tardivo
Alpine Tourism as an Economic Development Factor. A Market Perspective
4
1
16
16
2014-12-27
2014-12-27
10.11648/j.jim.s.2015040101.12
http://www.sciencepublishinggroup.com/journal/paperinfo.aspx?journalid=179&doi=10.11648/j.jim.s.2015040101.12
© Science Publishing Group
Ethical Food as a Differentiation Factor for Tourist Destinations: The Case of “Slow Food”
http://www.sciencepublishinggroup.com/journal/paperinfo.aspx?journalid=179&doi=10.11648/j.jim.s.2015040101.11
In recent years, the topic of ethical food has assumed increasing importance in international academic debate. Despite there being some studies carried out on this topic, there is limited literature on the role ethical food plays in the tourism sector and, specifically, in tourist destination attractiveness. This paper explores how ethical food can be a driver of destination attractiveness and how it is possible to take advantage of this issue for particular tourist destinations. In this paper, ethical food as a destination attraction is explained through the case of Slow Food. Results show that ethical food has a very important role to play in the future of destination attractiveness thanks to special events and projects concerning ethical food, which also contribute to the sustainability of a destination. Finally, strategies to exploit the potential of this ethical food so as to develop tourist destination attractiveness are drawn.
In recent years, the topic of ethical food has assumed increasing importance in international academic debate. Despite there being some studies carried out on this topic, there is limited literature on the role ethical food plays in the tourism sector and, specifically, in tourist destination attractiveness. This paper explores how ethical food can be a driver of destination attractiveness and how it is possible to take advantage of this issue for particular tourist destinations. In this paper, ethical food as a destination attraction is explained through the case of Slow Food. Results show that ethical food has a very important role to play in the future of destination attractiveness thanks to special events and projects concerning ethical food, which also contribute to the sustainability of a destination. Finally, strategies to exploit the potential of this ethical food so as to develop tourist destination attractiveness are drawn.
Ethical Food as a Differentiation Factor for Tourist Destinations: The Case of “Slow Food”
doi:10.11648/j.jim.s.2015040101.11
Journal of Investment and Management
2014-12-27
© Science Publishing Group
Milena Viassone
Martin Grimmer
Ethical Food as a Differentiation Factor for Tourist Destinations: The Case of “Slow Food”
4
1
9
9
2014-12-27
2014-12-27
10.11648/j.jim.s.2015040101.11
http://www.sciencepublishinggroup.com/journal/paperinfo.aspx?journalid=179&doi=10.11648/j.jim.s.2015040101.11
© Science Publishing Group
“Total Attractiveness” for Consumer in advanced D.D.-B.B. Systemic Marketing in Tourism Management
http://www.sciencepublishinggroup.com/journal/paperinfo.aspx?journalid=179&doi=10.11648/j.jim.s.2015040101.14
Part of literature and practice in tourism destination (Management) often consider (in case of weak marketing point of view) a too restrictive interpretation and implementation of (destination) “attractiveness”. This is a paradox. Frequently attractiveness in tourist destination management only means natural and intrinsic appeal of a destination, site or locus or similar. In important btoc fields, management and systemic marketing enlarge significance/contents of (complete) “attractiveness” (for the consumer-final client ). Also tourist destination management, rarely completely oriented to consumer (person-consumer), must reduce gap in implementation of real comprehensive, entire attractiveness (for consumer in btoc tourism). This paper also indicates how to apply to tourist destination management “complete” and impacting attractiveness, with really systemic marketing proposed by the author and gradually activated by outstanding firms also in Italy. So, this paper that enlarges “attractiveness” (for consumers) word , like occurs in other btoc fields, focalizes new kind of systemic marketing concepts and approaches, to increase impact of really comprehensive destination attractiveness (for consumer-final client ) not only using web. Also, this paper with neologisms , emphasizes how enlarged “attractiveness”(for consumers) can ameliorate (in btoc tourism management) multiple systemic “differentiation” by a lot of important (systemic) marketing topics, now including neologisms like: bunch, blend, propositioning, and so on, referring to single or aggregate of single advanced systemic marketing. Looking to unrestricted attractiveness, this paper proposes a shift from “natural” limited attractiveness to a real whole attractiveness, involving so called “persumer” (person-consumer) and it presents a new related concepts and a (called D.D.-B.B.) multi polyhedric systemic marketing approach to ameliorate impact on consumer (in btoc Tourism Management). To catch other opportunities referring to so called “external valorization”, (multi-polyhedric) S.A.W.A or “Systemic Articulated Whole Attractiveness”, activates polyhedric, strong “mixtures” (including experiential marketing), bunch and blend and other concepts impacting on “Whole Multiple Systemic Differentiation” related to a complete attractiveness. This includes effects of propositioning to positioning not only brand or normal packages in tourism. This paper proposes various possible innovations in words and emphasizes how various new attractiveness (of a specific whole firm) for the consumer-customer depends also on aggregating single (multi-articulated ) advanced systemic marketing into D.D. (new articulated and consumer oriented D.O., part of a new DOM) , to get (through B.B.) more and really excellent results by comprehensive, whole differentiation (not only of intrinsic site-destination) also sprung from “new” complete Attractiveness (to the consumer- final client).
Part of literature and practice in tourism destination (Management) often consider (in case of weak marketing point of view) a too restrictive interpretation and implementation of (destination) “attractiveness”. This is a paradox. Frequently attractiveness in tourist destination management only means natural and intrinsic appeal of a destination, site or locus or similar. In important btoc fields, management and systemic marketing enlarge significance/contents of (complete) “attractiveness” (for the consumer-final client ). Also tourist destination management, rarely completely oriented to consumer (person-consumer), must reduce gap in implementation of real comprehensive, entire attractiveness (for consumer in btoc tourism). This paper also indicates how to apply to tourist destination management “complete” and impacting attractiveness, with really systemic marketing proposed by the author and gradually activated by outstanding firms also in Italy. So, this paper that enlarges “attractiveness” (for consumers) word , like occurs in other btoc fields, focalizes new kind of systemic marketing concepts and approaches, to increase impact of really comprehensive destination attractiveness (for consumer-final client ) not only using web. Also, this paper with neologisms , emphasizes how enlarged “attractiveness”(for consumers) can ameliorate (in btoc tourism management) multiple systemic “differentiation” by a lot of important (systemic) marketing topics, now including neologisms like: bunch, blend, propositioning, and so on, referring to single or aggregate of single advanced systemic marketing. Looking to unrestricted attractiveness, this paper proposes a shift from “natural” limited attractiveness to a real whole attractiveness, involving so called “persumer” (person-consumer) and it presents a new related concepts and a (called D.D.-B.B.) multi polyhedric systemic marketing approach to ameliorate impact on consumer (in btoc Tourism Management). To catch other opportunities referring to so called “external valorization”, (multi-polyhedric) S.A.W.A or “Systemic Articulated Whole Attractiveness”, activates polyhedric, strong “mixtures” (including experiential marketing), bunch and blend and other concepts impacting on “Whole Multiple Systemic Differentiation” related to a complete attractiveness. This includes effects of propositioning to positioning not only brand or normal packages in tourism. This paper proposes various possible innovations in words and emphasizes how various new attractiveness (of a specific whole firm) for the consumer-customer depends also on aggregating single (multi-articulated ) advanced systemic marketing into D.D. (new articulated and consumer oriented D.O., part of a new DOM) , to get (through B.B.) more and really excellent results by comprehensive, whole differentiation (not only of intrinsic site-destination) also sprung from “new” complete Attractiveness (to the consumer- final client).
“Total Attractiveness” for Consumer in advanced D.D.-B.B. Systemic Marketing in Tourism Management
doi:10.11648/j.jim.s.2015040101.14
Journal of Investment and Management
2014-12-30
© Science Publishing Group
Alberto Marino
“Total Attractiveness” for Consumer in advanced D.D.-B.B. Systemic Marketing in Tourism Management
4
1
29
29
2014-12-30
2014-12-30
10.11648/j.jim.s.2015040101.14
http://www.sciencepublishinggroup.com/journal/paperinfo.aspx?journalid=179&doi=10.11648/j.jim.s.2015040101.14
© Science Publishing Group
Tourist Destinations Positioning: From Indexes to Managerial Implications
http://www.sciencepublishinggroup.com/journal/paperinfo.aspx?journalid=179&doi=10.11648/j.jim.s.2015040101.15
Despite the numerous attempts to define Tourist Destination Attractiveness (TDA) and Governance (TDG), there are no identified contributions concerning the analysis of these elements in a systemic way. This paper creates a TDA-TDG matrix able to map destinations on the basis of these dimensions, in order to draw development strategies. Drivers of TDA and TDG are chosen by means of literature and validated by 15 tourism stakeholders. TDA index is got throughout Delphi method while TDG index throughout an adaptation of the SERVPERF questionnaire. The paper results in a mapping of tourist destinations that allows tourist managers to draw paths of development.
Despite the numerous attempts to define Tourist Destination Attractiveness (TDA) and Governance (TDG), there are no identified contributions concerning the analysis of these elements in a systemic way. This paper creates a TDA-TDG matrix able to map destinations on the basis of these dimensions, in order to draw development strategies. Drivers of TDA and TDG are chosen by means of literature and validated by 15 tourism stakeholders. TDA index is got throughout Delphi method while TDG index throughout an adaptation of the SERVPERF questionnaire. The paper results in a mapping of tourist destinations that allows tourist managers to draw paths of development.
Tourist Destinations Positioning: From Indexes to Managerial Implications
doi:10.11648/j.jim.s.2015040101.15
Journal of Investment and Management
2014-12-31
© Science Publishing Group
Jean Paul Lemaire
Milena Viassone
Tourist Destinations Positioning: From Indexes to Managerial Implications
4
1
38
38
2014-12-31
2014-12-31
10.11648/j.jim.s.2015040101.15
http://www.sciencepublishinggroup.com/journal/paperinfo.aspx?journalid=179&doi=10.11648/j.jim.s.2015040101.15
© Science Publishing Group
Customer Satisfaction in Tourist Destination: The Case of Tourism Offer in the City of Naples
http://www.sciencepublishinggroup.com/journal/paperinfo.aspx?journalid=179&doi=10.11648/j.jim.s.2015040101.16
This paper investigates the main elements that can influence customer satisfaction in tourist services, with specific reference to tourism industry. The importance of this topic resides in the fact that tourists’ positive experiences of service, products, and other resources provided by tourism destinations can produce customer retention as well as positive word-of-mouth. Indeed, satisfaction with travel experiences contributes to destination loyalty. The degree of tourists’ loyalty to a destination is reflected in their intentions to revisit the destination and in their recommendations to others. Thus, information about tourists’ loyalty is important to destination marketers and managers in order to sustain destination attractiveness. Although predominant literature has adopted a demand-side perspective, this paper analyses tourist satisfaction according to an overlapping perspective that contemplates both the demand and the offer side where this latter, in the wider meaning, also includes the systemic perspective. More precisely, this paper aims to identify the principle competitive strategies that the variety of stakeholders, cooperating together in a destination, has to implement in order to increase tourist satisfaction and loyalty. Indeed, the point of view of this paper is to understand how destination attributes and services affect the tourist satisfaction. In order to study the link between destination attributes and tourist satisfaction, the paper collects cross-sectional data via questionnaire, from May 2012 to May 2013. The adopted approach allows to individuate the factors that can influence tourist satisfaction, their (positive or negative) direction and their magnitude. This paper uses 14 tourist satisfaction indicators in order to measure the global satisfaction. Furthermore, this study allows to identify the current strengths and weaknesses of the tourist offer. In particular, the study paid attention to the phase of service delivery since it is the time when customer satisfaction is generated. From this study, it comes out that tourist satisfaction depends on a complex process where the role of each actor is fundamental and it must be in tune with all the other ones. Findings show that tourists visiting Naples are not completely satisfied, supporting that Naples has not a clear destination image.
This paper investigates the main elements that can influence customer satisfaction in tourist services, with specific reference to tourism industry. The importance of this topic resides in the fact that tourists’ positive experiences of service, products, and other resources provided by tourism destinations can produce customer retention as well as positive word-of-mouth. Indeed, satisfaction with travel experiences contributes to destination loyalty. The degree of tourists’ loyalty to a destination is reflected in their intentions to revisit the destination and in their recommendations to others. Thus, information about tourists’ loyalty is important to destination marketers and managers in order to sustain destination attractiveness. Although predominant literature has adopted a demand-side perspective, this paper analyses tourist satisfaction according to an overlapping perspective that contemplates both the demand and the offer side where this latter, in the wider meaning, also includes the systemic perspective. More precisely, this paper aims to identify the principle competitive strategies that the variety of stakeholders, cooperating together in a destination, has to implement in order to increase tourist satisfaction and loyalty. Indeed, the point of view of this paper is to understand how destination attributes and services affect the tourist satisfaction. In order to study the link between destination attributes and tourist satisfaction, the paper collects cross-sectional data via questionnaire, from May 2012 to May 2013. The adopted approach allows to individuate the factors that can influence tourist satisfaction, their (positive or negative) direction and their magnitude. This paper uses 14 tourist satisfaction indicators in order to measure the global satisfaction. Furthermore, this study allows to identify the current strengths and weaknesses of the tourist offer. In particular, the study paid attention to the phase of service delivery since it is the time when customer satisfaction is generated. From this study, it comes out that tourist satisfaction depends on a complex process where the role of each actor is fundamental and it must be in tune with all the other ones. Findings show that tourists visiting Naples are not completely satisfied, supporting that Naples has not a clear destination image.
Customer Satisfaction in Tourist Destination: The Case of Tourism Offer in the City of Naples
doi:10.11648/j.jim.s.2015040101.16
Journal of Investment and Management
2015-01-03
© Science Publishing Group
Valentina Della Corte
Mauro Sciarelli
Clelia Cascella
Giovanna Del Gaudio
Customer Satisfaction in Tourist Destination: The Case of Tourism Offer in the City of Naples
4
1
50
50
2015-01-03
2015-01-03
10.11648/j.jim.s.2015040101.16
http://www.sciencepublishinggroup.com/journal/paperinfo.aspx?journalid=179&doi=10.11648/j.jim.s.2015040101.16
© Science Publishing Group
Culinary Tourism: Made in Italy Food and Real Estate Finance for the Creation of a Culinary Theme Park
http://www.sciencepublishinggroup.com/journal/paperinfo.aspx?journalid=179&doi=10.11648/j.jim.s.2015040101.17
There are numerous studies and research on tourism as well as specifically on culinary tourism, all aimed at understanding their characteristics and how to develop them into a source of growth for the country. The special features of the new culinary theme park (F.I.C.O.) render it innovative. It is not only a project that has never been seen before, but one that was able to profit by the many competitive advantages offered by the country, such as general tourism, Made in Italy food, and the driving force of a prosperous agribusiness sector. Managed by Eataly, a globally established enterprise, F.I.C.O., aims to become the largest centre in the world for the celebration of Italian agribusiness. Innovation is even found in the way that the project is organised and how it obtains its necessary funds, which are collected through a Real Estate Finance project. Its attractiveness is lastly tested through a random sample of interviews that allowed for feedback by the use of a statistical method, a practical and concrete result of a previous general analysis as well as a statistical summary of the typical behaviour of consumers and travellers.
There are numerous studies and research on tourism as well as specifically on culinary tourism, all aimed at understanding their characteristics and how to develop them into a source of growth for the country. The special features of the new culinary theme park (F.I.C.O.) render it innovative. It is not only a project that has never been seen before, but one that was able to profit by the many competitive advantages offered by the country, such as general tourism, Made in Italy food, and the driving force of a prosperous agribusiness sector. Managed by Eataly, a globally established enterprise, F.I.C.O., aims to become the largest centre in the world for the celebration of Italian agribusiness. Innovation is even found in the way that the project is organised and how it obtains its necessary funds, which are collected through a Real Estate Finance project. Its attractiveness is lastly tested through a random sample of interviews that allowed for feedback by the use of a statistical method, a practical and concrete result of a previous general analysis as well as a statistical summary of the typical behaviour of consumers and travellers.
Culinary Tourism: Made in Italy Food and Real Estate Finance for the Creation of a Culinary Theme Park
doi:10.11648/j.jim.s.2015040101.17
Journal of Investment and Management
2015-01-23
© Science Publishing Group
Carlo Felice Maggi
Michela Avataneo
Culinary Tourism: Made in Italy Food and Real Estate Finance for the Creation of a Culinary Theme Park
4
1
57
57
2015-01-23
2015-01-23
10.11648/j.jim.s.2015040101.17
http://www.sciencepublishinggroup.com/journal/paperinfo.aspx?journalid=179&doi=10.11648/j.jim.s.2015040101.17
© Science Publishing Group
Perceptioning as a Tool for Destination Branding: The case of Liguria as Wikidestination
http://www.sciencepublishinggroup.com/journal/paperinfo.aspx?journalid=179&doi=10.11648/j.jim.s.2015040101.18
The perceptioning model developed by Bassani et al. (2002, 2007, and 2011) permits to design, launch and develop a strong brand in B2B and B2C markets. In recent years, it has also been used to build wikibrands (Moffit and Dover, 2010) and successful products relying on the high involvement of consumers’ communities in value creation processes. The paper explores how the perceptioning model as a tool for destination branding could also find successful application in other fields such as the tourism sector. After a literature review on place branding and perceptioning, the paper applies this model at a territorial scale by analyzing the case of the region of Liguria in Northwest Italy as a prototype of wikidestination. By relying on a qualitative research design based on interviews and discourse analysis, this paper provides evidence that perceptioning is also a suitable approach for territorial marketing, especially in the case of wikidestinations that are constructed collectively.
The perceptioning model developed by Bassani et al. (2002, 2007, and 2011) permits to design, launch and develop a strong brand in B2B and B2C markets. In recent years, it has also been used to build wikibrands (Moffit and Dover, 2010) and successful products relying on the high involvement of consumers’ communities in value creation processes. The paper explores how the perceptioning model as a tool for destination branding could also find successful application in other fields such as the tourism sector. After a literature review on place branding and perceptioning, the paper applies this model at a territorial scale by analyzing the case of the region of Liguria in Northwest Italy as a prototype of wikidestination. By relying on a qualitative research design based on interviews and discourse analysis, this paper provides evidence that perceptioning is also a suitable approach for territorial marketing, especially in the case of wikidestinations that are constructed collectively.
Perceptioning as a Tool for Destination Branding: The case of Liguria as Wikidestination
doi:10.11648/j.jim.s.2015040101.18
Journal of Investment and Management
2015-01-29
© Science Publishing Group
Kamel Ben Youssef
Martha Friel
Thomas Leicht
Lidia Marongiu
Perceptioning as a Tool for Destination Branding: The case of Liguria as Wikidestination
4
1
68
68
2015-01-29
2015-01-29
10.11648/j.jim.s.2015040101.18
http://www.sciencepublishinggroup.com/journal/paperinfo.aspx?journalid=179&doi=10.11648/j.jim.s.2015040101.18
© Science Publishing Group
The Widespread Hotel: New Hotel Model for Business Tourist
http://www.sciencepublishinggroup.com/journal/paperinfo.aspx?journalid=179&doi=10.11648/j.jim.s.2015040101.19
The territories are in competition among them for attract human, economic and financial resources. The attractiveness has become the target of recent urban policies. In fact, the constant appeals to events, be they even simple events or events lasting more days, or real places built for the occasion and adaptable to multiple uses, all linked to recreational activities, are a proof. In the tourism field this situation is particularly intense. The local areas can lose the competitive play against the great areas. They must think of diversification of their supply. Therefore, in the dynamic environment of business tourism, the requirements of customers about service quality and location landscape are getting harder than in the past. The widespread hotel model represents one of the possible solution to that needs and recently it is increasing its importance. The model is able to stimulate economic and social value development through the management of several critical success factors. The analysis of a case study “Hotel Chateau Le Cagnard” permits to underline the key factors of success of the widespread hotel for business tourism.
The territories are in competition among them for attract human, economic and financial resources. The attractiveness has become the target of recent urban policies. In fact, the constant appeals to events, be they even simple events or events lasting more days, or real places built for the occasion and adaptable to multiple uses, all linked to recreational activities, are a proof. In the tourism field this situation is particularly intense. The local areas can lose the competitive play against the great areas. They must think of diversification of their supply. Therefore, in the dynamic environment of business tourism, the requirements of customers about service quality and location landscape are getting harder than in the past. The widespread hotel model represents one of the possible solution to that needs and recently it is increasing its importance. The model is able to stimulate economic and social value development through the management of several critical success factors. The analysis of a case study “Hotel Chateau Le Cagnard” permits to underline the key factors of success of the widespread hotel for business tourism.
The Widespread Hotel: New Hotel Model for Business Tourist
doi:10.11648/j.jim.s.2015040101.19
Journal of Investment and Management
2015-02-11
© Science Publishing Group
Filippo Monge
Daniele Cattaneo
Angela Scilla
The Widespread Hotel: New Hotel Model for Business Tourist
4
1
76
76
2015-02-11
2015-02-11
10.11648/j.jim.s.2015040101.19
http://www.sciencepublishinggroup.com/journal/paperinfo.aspx?journalid=179&doi=10.11648/j.jim.s.2015040101.19
© Science Publishing Group
Creative Resources for Attractive Seaside Resorts: The French Turn
http://www.sciencepublishinggroup.com/journal/paperinfo.aspx?journalid=179&doi=10.11648/j.jim.s.2015040101.20
This article presents a qualitative analysis of the specific strategies used by coastal resorts in the South of France to valorise their creative regional resources. These strategies emerge from factors of change in the trajectories of the resorts: change in the relationship between man and nature, environmental turning point and the need for sustainability, emergence of creative tourism centred on recreation, sport and culture. The research is supported by three case studies, Biarritz, Lacanau and Martigues, and assesses the constraints that arise in terms of design and management of coastal resorts and tourist areas, against a background of numerous conflicting requirements, including attractiveness and sustainability. The effects of these strategies can call into question the choice of resources selected, associated forms of governance, as well as conflicts in use that may emerge.
This article presents a qualitative analysis of the specific strategies used by coastal resorts in the South of France to valorise their creative regional resources. These strategies emerge from factors of change in the trajectories of the resorts: change in the relationship between man and nature, environmental turning point and the need for sustainability, emergence of creative tourism centred on recreation, sport and culture. The research is supported by three case studies, Biarritz, Lacanau and Martigues, and assesses the constraints that arise in terms of design and management of coastal resorts and tourist areas, against a background of numerous conflicting requirements, including attractiveness and sustainability. The effects of these strategies can call into question the choice of resources selected, associated forms of governance, as well as conflicts in use that may emerge.
Creative Resources for Attractive Seaside Resorts: The French Turn
doi:10.11648/j.jim.s.2015040101.20
Journal of Investment and Management
2015-02-11
© Science Publishing Group
Anne Gombault
Ludovic Falaix
Emeline Hatt
Jérôme Piriou
Creative Resources for Attractive Seaside Resorts: The French Turn
4
1
86
86
2015-02-11
2015-02-11
10.11648/j.jim.s.2015040101.20
http://www.sciencepublishinggroup.com/journal/paperinfo.aspx?journalid=179&doi=10.11648/j.jim.s.2015040101.20
© Science Publishing Group
Efficiency of Macedonian Insurance Companies: A DEA Approach
http://www.sciencepublishinggroup.com/journal/paperinfo.aspx?journalid=179&doi=10.11648/j.jim.20150402.11
The purpose of this paper is to estimate the efficiency of the insurance sector of Republic of Macedonia for the period 2009-2013. Technical, pure technical and scale efficiency of 11 Macedonian insurance companies have been measured using Data Envelopment Analysis (DEA), both CCR and BCC output-oriented model. The results from the analysis indicate an increase of the average efficiency during the almost whole observed period. The scale efficiency follows the same trend. When estimating the BCC model, the number of efficient insurance companies and the average efficiency for the sector is higher than in the CCR case, implying that the main source of inefficiency is due to scale inefficiencies. The average technical efficiency score of Republic of Macedonia in 2013 of 0.84387 indicates relatively high efficiency of the insurance sector. The efficiency problem of each insurance company has been specified particularly
The purpose of this paper is to estimate the efficiency of the insurance sector of Republic of Macedonia for the period 2009-2013. Technical, pure technical and scale efficiency of 11 Macedonian insurance companies have been measured using Data Envelopment Analysis (DEA), both CCR and BCC output-oriented model. The results from the analysis indicate an increase of the average efficiency during the almost whole observed period. The scale efficiency follows the same trend. When estimating the BCC model, the number of efficient insurance companies and the average efficiency for the sector is higher than in the CCR case, implying that the main source of inefficiency is due to scale inefficiencies. The average technical efficiency score of Republic of Macedonia in 2013 of 0.84387 indicates relatively high efficiency of the insurance sector. The efficiency problem of each insurance company has been specified particularly
Efficiency of Macedonian Insurance Companies: A DEA Approach
doi:10.11648/j.jim.20150402.11
Journal of Investment and Management
2015-08-11
© Science Publishing Group
Vesna Micajkova
Efficiency of Macedonian Insurance Companies: A DEA Approach
4
2
67
67
2015-08-11
2015-08-11
10.11648/j.jim.20150402.11
http://www.sciencepublishinggroup.com/journal/paperinfo.aspx?journalid=179&doi=10.11648/j.jim.20150402.11
© Science Publishing Group
Factors Influencing Real Estate Agents Selection: A Survey of Real Estate Customers in Kumasi Metropolis, Ghana
http://www.sciencepublishinggroup.com/journal/paperinfo.aspx?journalid=179&doi=10.11648/j.jim.20150402.12
Real estate is a special type of asset that almost everyone desire to own. It is a complex and highly differentiated asset, with no two units precisely identical in all respects. Real estate investment involves huge sum of money often beyond the reach of a single individual. For most estate owners, real estate is probably their single largest channel investment. It is therefore necessary that one makes the right choice on whom to handle ones single largest financial investment. This study attempt to investigate into factors that real estate customers consider in selecting their estate agents in Kumasi Metropolis, Ghana for the purpose of creating better customer satisfaction in real estate agency market. The data collection instrument adopted for this study was self-administered questionnaires. The study sample consisted of two hundred and three (203) real estate consumers in Kumasi metropolis. A survey of 203 real estate consumers revealed the factors influencing the selection of real estate agents in the study area. The study found out that real estate consumers are mostly concern about agent’s reputation when deciding on the choice of whom to handle their probably single largest investment. The study also found that 75 representing 37% of the study population employs the services of real estate agents in order to maximize returns on their investment
Real estate is a special type of asset that almost everyone desire to own. It is a complex and highly differentiated asset, with no two units precisely identical in all respects. Real estate investment involves huge sum of money often beyond the reach of a single individual. For most estate owners, real estate is probably their single largest channel investment. It is therefore necessary that one makes the right choice on whom to handle ones single largest financial investment. This study attempt to investigate into factors that real estate customers consider in selecting their estate agents in Kumasi Metropolis, Ghana for the purpose of creating better customer satisfaction in real estate agency market. The data collection instrument adopted for this study was self-administered questionnaires. The study sample consisted of two hundred and three (203) real estate consumers in Kumasi metropolis. A survey of 203 real estate consumers revealed the factors influencing the selection of real estate agents in the study area. The study found out that real estate consumers are mostly concern about agent’s reputation when deciding on the choice of whom to handle their probably single largest investment. The study also found that 75 representing 37% of the study population employs the services of real estate agents in order to maximize returns on their investment
Factors Influencing Real Estate Agents Selection: A Survey of Real Estate Customers in Kumasi Metropolis, Ghana
doi:10.11648/j.jim.20150402.12
Journal of Investment and Management
2015-08-11
© Science Publishing Group
Owusu Alfred
Anthony Kofi Badu
Nicholas Oppong Mensah
Factors Influencing Real Estate Agents Selection: A Survey of Real Estate Customers in Kumasi Metropolis, Ghana
4
2
72
72
2015-08-11
2015-08-11
10.11648/j.jim.20150402.12
http://www.sciencepublishinggroup.com/journal/paperinfo.aspx?journalid=179&doi=10.11648/j.jim.20150402.12
© Science Publishing Group
Prospect of Private-Public Partnership in Tourism of Bangladesh
http://www.sciencepublishinggroup.com/journal/paperinfo.aspx?journalid=179&doi=10.11648/j.jim.20150403.11
Tourism sector is a potential sector for the economic growth of Bangladesh. This paper is prepared to find out the prospect of Private-public-partnership (PPP) for economic growth in tourism sector in Bangladesh. The relationship between tourism industry of Bangladesh and its contribution to economic growth are analyzed to strengthen the probability of this private-public partnership. The market for tourism industry is identified through SCP (Structure, conduct, performance) framework and prospect of creating such market though PPP for greater revenue of the private sector which are showed in this article. Tourism is playing very diverse role in many developing countries and prospect of this industry in Bangladesh is very high. The objective of the paper is to present the recent trends of earning from tourism, tourist arrivals and identifications of barriers of tourism industry in Bangladesh. Further, government’s different projects regarding tourism sector development are considered to see the greater prospect of profit from private sector which will contribute to economic growth of Bangladesh
Tourism sector is a potential sector for the economic growth of Bangladesh. This paper is prepared to find out the prospect of Private-public-partnership (PPP) for economic growth in tourism sector in Bangladesh. The relationship between tourism industry of Bangladesh and its contribution to economic growth are analyzed to strengthen the probability of this private-public partnership. The market for tourism industry is identified through SCP (Structure, conduct, performance) framework and prospect of creating such market though PPP for greater revenue of the private sector which are showed in this article. Tourism is playing very diverse role in many developing countries and prospect of this industry in Bangladesh is very high. The objective of the paper is to present the recent trends of earning from tourism, tourist arrivals and identifications of barriers of tourism industry in Bangladesh. Further, government’s different projects regarding tourism sector development are considered to see the greater prospect of profit from private sector which will contribute to economic growth of Bangladesh
Prospect of Private-Public Partnership in Tourism of Bangladesh
doi:10.11648/j.jim.20150403.11
Journal of Investment and Management
2015-08-11
© Science Publishing Group
Nymatul Jannat Nipa
Jakia Sultana
Md. Habibur Rahman
Prospect of Private-Public Partnership in Tourism of Bangladesh
4
3
83
83
2015-08-11
2015-08-11
10.11648/j.jim.20150403.11
http://www.sciencepublishinggroup.com/journal/paperinfo.aspx?journalid=179&doi=10.11648/j.jim.20150403.11
© Science Publishing Group
The Role of Intellectual Capital in the Development of the Competitive Capacities in the Cement Company of “Ain Touta” Algeria
http://www.sciencepublishinggroup.com/journal/paperinfo.aspx?journalid=179&doi=10.11648/j.jim.20150403.12
This study aimed to analyze and testing the relationship between intellectual capital and the development of competitive capacities by adopting a virtual model and a research questionnaire and by testing the validity of hypotheses based on the statistical methods used in the study. The results showed the existence of a relationship between the independent variable which is only the relations capital and the development of the competitive capacities of the direction, and that there is a strong impact between intellectual capital and the development of competitive capacities in the direction. The study showed also that there is no relationship between the independent variables which are human capital and structural capital and the dependent variable which is competitive capacities.
This study aimed to analyze and testing the relationship between intellectual capital and the development of competitive capacities by adopting a virtual model and a research questionnaire and by testing the validity of hypotheses based on the statistical methods used in the study. The results showed the existence of a relationship between the independent variable which is only the relations capital and the development of the competitive capacities of the direction, and that there is a strong impact between intellectual capital and the development of competitive capacities in the direction. The study showed also that there is no relationship between the independent variables which are human capital and structural capital and the dependent variable which is competitive capacities.
The Role of Intellectual Capital in the Development of the Competitive Capacities in the Cement Company of “Ain Touta” Algeria
doi:10.11648/j.jim.20150403.12
Journal of Investment and Management
2015-08-11
© Science Publishing Group
Yahiaoui Naima
Megri Zakia
Yousfat Ali
The Role of Intellectual Capital in the Development of the Competitive Capacities in the Cement Company of “Ain Touta” Algeria
4
3
94
94
2015-08-11
2015-08-11
10.11648/j.jim.20150403.12
http://www.sciencepublishinggroup.com/journal/paperinfo.aspx?journalid=179&doi=10.11648/j.jim.20150403.12
© Science Publishing Group
Determinants of Technical Inefficiency of Handloom Weaving Industry in Kushtia District of Bangladesh: A Tobit Model Approach
http://www.sciencepublishinggroup.com/journal/paperinfo.aspx?journalid=179&doi=10.11648/j.jim.20150404.11
This paper is an attempt to analyze the determinants of technical inefficiency of handloom weaving units operating in Kumarkhali Upazila of Kushtia District in Bangladesh. The study is mainly based on primary data that are collected through structured questionnaire from handloom unit owners in the study area. A total of 57 handloom units are randomly selected for the study. Cobb-Douglas production function model is employed to obtain the technical efficiency of handloom units and technical inefficiency index is calculated from the obtained efficiencies. Tobit Model is used to identify the factors of inefficiency in the handloom weaving units. From the analysis, average inefficiency of handloom units in the study area is found to be 0.245. The major findings of the study show that education, experience, size of unit, and age of owners are significant factors influencing technical inefficiency of handloom weaving units.
This paper is an attempt to analyze the determinants of technical inefficiency of handloom weaving units operating in Kumarkhali Upazila of Kushtia District in Bangladesh. The study is mainly based on primary data that are collected through structured questionnaire from handloom unit owners in the study area. A total of 57 handloom units are randomly selected for the study. Cobb-Douglas production function model is employed to obtain the technical efficiency of handloom units and technical inefficiency index is calculated from the obtained efficiencies. Tobit Model is used to identify the factors of inefficiency in the handloom weaving units. From the analysis, average inefficiency of handloom units in the study area is found to be 0.245. The major findings of the study show that education, experience, size of unit, and age of owners are significant factors influencing technical inefficiency of handloom weaving units.
Determinants of Technical Inefficiency of Handloom Weaving Industry in Kushtia District of Bangladesh: A Tobit Model Approach
doi:10.11648/j.jim.20150404.11
Journal of Investment and Management
2015-08-11
© Science Publishing Group
Md. Khairul Islam
Md. Elias Hossain
Determinants of Technical Inefficiency of Handloom Weaving Industry in Kushtia District of Bangladesh: A Tobit Model Approach
4
4
99
99
2015-08-11
2015-08-11
10.11648/j.jim.20150404.11
http://www.sciencepublishinggroup.com/journal/paperinfo.aspx?journalid=179&doi=10.11648/j.jim.20150404.11
© Science Publishing Group
Local Investments in Nigeria: What Role for Capital Market Operations
http://www.sciencepublishinggroup.com/journal/paperinfo.aspx?journalid=179&doi=10.11648/j.jim.20150404.12
There have been the growing concerns and controversies on the role of the Stock markets on economic growth and development. There have been mixed results; while some are in support of a positive link, some negative link and others do not find any empirical evidence to support such conclusion. In this study. To explored the roles or effectiveness of capital market instruments on Nigerian economic growth. Two models were formulated and data for the period 2004-2014 were collated while the Error Correction and co-integration model were employed for analysis with result of long run equilibrium. This study examines the role of the Nigerian capital market operations on the development of the Nigeria local investment in the manufacturing sector, recommendations were made for active stock market to be developed in the country.
There have been the growing concerns and controversies on the role of the Stock markets on economic growth and development. There have been mixed results; while some are in support of a positive link, some negative link and others do not find any empirical evidence to support such conclusion. In this study. To explored the roles or effectiveness of capital market instruments on Nigerian economic growth. Two models were formulated and data for the period 2004-2014 were collated while the Error Correction and co-integration model were employed for analysis with result of long run equilibrium. This study examines the role of the Nigerian capital market operations on the development of the Nigeria local investment in the manufacturing sector, recommendations were made for active stock market to be developed in the country.
Local Investments in Nigeria: What Role for Capital Market Operations
doi:10.11648/j.jim.20150404.12
Journal of Investment and Management
2015-08-11
© Science Publishing Group
Olure-Bank Aadeyinka Michael
Omodele Kilanko
Gbadebo Salako
Ajiteru Temilade
Local Investments in Nigeria: What Role for Capital Market Operations
4
4
112
112
2015-08-11
2015-08-11
10.11648/j.jim.20150404.12
http://www.sciencepublishinggroup.com/journal/paperinfo.aspx?journalid=179&doi=10.11648/j.jim.20150404.12
© Science Publishing Group
Management of Pollutants in Industries: A Case Study
http://www.sciencepublishinggroup.com/journal/paperinfo.aspx?journalid=179&doi=10.11648/j.jim.20150404.13
In this paper, using fuzzy logic, a model is presented to monitor region wise industrial pollutants in pyrometallurgy industries. The model has been used in a case study that will determine which industry, in which region, producing which and how much pollutants, is ecologically compatible. To assess the ecological compatibility, first, the sets of industries, regions, pollutants and ecology compatibility were defined. Then, to calculate the membership degree of the members of the ecology compatibility set, the membership function of ecology compatibility was defined. By ranking different industries in various regions, producing different pollutants, as continuous figures, the ecological compatibility of these industries was accurately compared. Given the degree of ecological compatibility in a region, the type of pollutant and the related industry, identification of the lowest degree of ecological compatibility was the first priority of this case study. Results of the conducted case study, without considering the region coefficient, show that in December 2005, member C241, with an ecological degree of compatibility equivalent to 0.0559, had the most critical condition in producing carbon dioxide. However, in the same period in 2005, on considering the region coefficient, member C121, with an ecological degree of compatibility equivalent to 0.0655, showed the most critical condition as far the production of carbon dioxide was concerned.
In this paper, using fuzzy logic, a model is presented to monitor region wise industrial pollutants in pyrometallurgy industries. The model has been used in a case study that will determine which industry, in which region, producing which and how much pollutants, is ecologically compatible. To assess the ecological compatibility, first, the sets of industries, regions, pollutants and ecology compatibility were defined. Then, to calculate the membership degree of the members of the ecology compatibility set, the membership function of ecology compatibility was defined. By ranking different industries in various regions, producing different pollutants, as continuous figures, the ecological compatibility of these industries was accurately compared. Given the degree of ecological compatibility in a region, the type of pollutant and the related industry, identification of the lowest degree of ecological compatibility was the first priority of this case study. Results of the conducted case study, without considering the region coefficient, show that in December 2005, member C241, with an ecological degree of compatibility equivalent to 0.0559, had the most critical condition in producing carbon dioxide. However, in the same period in 2005, on considering the region coefficient, member C121, with an ecological degree of compatibility equivalent to 0.0655, showed the most critical condition as far the production of carbon dioxide was concerned.
Management of Pollutants in Industries: A Case Study
doi:10.11648/j.jim.20150404.13
Journal of Investment and Management
2015-08-11
© Science Publishing Group
Seyed Ebrahim Vahdat
Rohollah Askarpour
Pedram Keyhany
Yones Rahimi
Hadi Soflaei
Management of Pollutants in Industries: A Case Study
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118
118
2015-08-11
2015-08-11
10.11648/j.jim.20150404.13
http://www.sciencepublishinggroup.com/journal/paperinfo.aspx?journalid=179&doi=10.11648/j.jim.20150404.13
© Science Publishing Group
The Impact of Firm’s Level Corporate Governance on Market Capitalization
http://www.sciencepublishinggroup.com/journal/paperinfo.aspx?journalid=179&doi=10.11648/j.jim.20150404.14
The examination of the influence of firm’s level CG on market capitalization is potentially important for managers to improve CG system in context of Bangladesh. The linear relationship between CG and market capitalization is recognized at one percent level of significance. A positive and significant relationship between board independence and market capitalization is identified. On the other hand, a negative and significant relationship between public ownership and market capitalization is detected by the model. The present practice of CG does not capable to bring back the eroded confidence of external shareholders. The study recommend some steps for improve the situation such as at least two independent directors or one-third whichever is higher, mandatory training for directors to improve their mindset, introduce audit review system, introduce VFM review mechanism, establishing a high powered financial reporting council (FRC) and so on.
The examination of the influence of firm’s level CG on market capitalization is potentially important for managers to improve CG system in context of Bangladesh. The linear relationship between CG and market capitalization is recognized at one percent level of significance. A positive and significant relationship between board independence and market capitalization is identified. On the other hand, a negative and significant relationship between public ownership and market capitalization is detected by the model. The present practice of CG does not capable to bring back the eroded confidence of external shareholders. The study recommend some steps for improve the situation such as at least two independent directors or one-third whichever is higher, mandatory training for directors to improve their mindset, introduce audit review system, introduce VFM review mechanism, establishing a high powered financial reporting council (FRC) and so on.
The Impact of Firm’s Level Corporate Governance on Market Capitalization
doi:10.11648/j.jim.20150404.14
Journal of Investment and Management
2015-08-11
© Science Publishing Group
Md Shamimul Hasan
Normah Omar
The Impact of Firm’s Level Corporate Governance on Market Capitalization
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http://www.sciencepublishinggroup.com/journal/paperinfo.aspx?journalid=179&doi=10.11648/j.jim.20150404.14
© Science Publishing Group
Performance Assessment of Industrial Real Estate Contribution to Nigerian Economy
http://www.sciencepublishinggroup.com/journal/paperinfo.aspx?journalid=179&doi=10.11648/j.jim.20150405.11
This work is set to measure the contribution of real estate to the production output of manufacturing industries in Nigeria and relate it to the gross domestic product of Nigeria with a view to providing guidance for the industrial investors, measuring past achievements and providing the basis for planning and control decisions. 44 of the 108 industries in industrial town of Ota in Nigeria were randomly sampled to elicit data between 2008 and 2012 from heads of administration of each industry and data collected were analyzed using descriptive statistics. The findings indicated that at aggregate level, industrial properties in Ota, Nigeria contributed 19% performance to the manufacturing success of industrial establishments. Furthermore, while both contributions of manufacturing sector to the national economy and the industrial real estate to manufacturing output are not steady or specific in trend, the average of the contribution of manufacturing/industrial sector to Nigerian economy from 2008-2012 as gathered from various sources indicated 3.41%, the implication of this is that the industrial real estate’s actual contribution to Nigerian economy is 0.65%. This work did not measure the value (capital or rental) to determine performance of industrial properties; rather it rated the performance of each standard economic factors of production (land, labour, capital and entrepreneur) base on their contribution to the production activities of the industries by conversion of qualitative perception of the respondents to quantitative measurement. Further endeavor is desired to have pure quantitative measurement as improvement on this qualitative perception. The field of real estate of manufacturing industry lacks empirical measurement to quantify the value that it adds to the firm’s performance and this has made the contribution of real estate to the firm not properly considered or recognized. This work is therefore non-economic parameter used to quantify the contribution. The benchmarks developed in this work were found to be measurable and appropriate for owner occupied industrial buildings and makes collection of data simple. The work advanced the benchmarks required for the performance evaluation of industrial buildings without resorting to determination of actual value. This will be useful for government to fix industrial real estate in the national economic importance as against the usual real estate investment contribution to the national economy.
This work is set to measure the contribution of real estate to the production output of manufacturing industries in Nigeria and relate it to the gross domestic product of Nigeria with a view to providing guidance for the industrial investors, measuring past achievements and providing the basis for planning and control decisions. 44 of the 108 industries in industrial town of Ota in Nigeria were randomly sampled to elicit data between 2008 and 2012 from heads of administration of each industry and data collected were analyzed using descriptive statistics. The findings indicated that at aggregate level, industrial properties in Ota, Nigeria contributed 19% performance to the manufacturing success of industrial establishments. Furthermore, while both contributions of manufacturing sector to the national economy and the industrial real estate to manufacturing output are not steady or specific in trend, the average of the contribution of manufacturing/industrial sector to Nigerian economy from 2008-2012 as gathered from various sources indicated 3.41%, the implication of this is that the industrial real estate’s actual contribution to Nigerian economy is 0.65%. This work did not measure the value (capital or rental) to determine performance of industrial properties; rather it rated the performance of each standard economic factors of production (land, labour, capital and entrepreneur) base on their contribution to the production activities of the industries by conversion of qualitative perception of the respondents to quantitative measurement. Further endeavor is desired to have pure quantitative measurement as improvement on this qualitative perception. The field of real estate of manufacturing industry lacks empirical measurement to quantify the value that it adds to the firm’s performance and this has made the contribution of real estate to the firm not properly considered or recognized. This work is therefore non-economic parameter used to quantify the contribution. The benchmarks developed in this work were found to be measurable and appropriate for owner occupied industrial buildings and makes collection of data simple. The work advanced the benchmarks required for the performance evaluation of industrial buildings without resorting to determination of actual value. This will be useful for government to fix industrial real estate in the national economic importance as against the usual real estate investment contribution to the national economy.
Performance Assessment of Industrial Real Estate Contribution to Nigerian Economy
doi:10.11648/j.jim.20150405.11
Journal of Investment and Management
2015-08-11
© Science Publishing Group
Nurudeen Akinsola Bello
Ismail Kolawole Bello
Olufola Toyosi Elegbede
Performance Assessment of Industrial Real Estate Contribution to Nigerian Economy
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© Science Publishing Group
Governance, Employee Engagement and Improved Productivity in the Public Sector: The Nigerian Experience
http://www.sciencepublishinggroup.com/journal/paperinfo.aspx?journalid=179&doi=10.11648/j.jim.20150405.12
This paper examines governance, employee engagement and productivity in the Nigerian public sector. Amidst the high expectations of the citizenry from the new administration of the 6th republic in the Nigerian civilian administration, the reality on ground at the commencement of the new administration in the 6th Republic calls for questions raised by governance in the past administration and consequently employee engagement in the Nigerian public sector as well as its impact on organizational productivity. Owing to the declining level of employee engagement and productivity in the Nigerian public sector, the paper concludes that for productivity to improve in the public sector and for employee engagement to occur, the three Hs (Head, Heart and Hand) of the employee must be effectively engaged in addition to the provision of good governance by government.
This paper examines governance, employee engagement and productivity in the Nigerian public sector. Amidst the high expectations of the citizenry from the new administration of the 6th republic in the Nigerian civilian administration, the reality on ground at the commencement of the new administration in the 6th Republic calls for questions raised by governance in the past administration and consequently employee engagement in the Nigerian public sector as well as its impact on organizational productivity. Owing to the declining level of employee engagement and productivity in the Nigerian public sector, the paper concludes that for productivity to improve in the public sector and for employee engagement to occur, the three Hs (Head, Heart and Hand) of the employee must be effectively engaged in addition to the provision of good governance by government.
Governance, Employee Engagement and Improved Productivity in the Public Sector: The Nigerian Experience
doi:10.11648/j.jim.20150405.12
Journal of Investment and Management
2015-08-11
© Science Publishing Group
Nkogbu Godfrey Oshilim
Offia Patience Akpesiri
Governance, Employee Engagement and Improved Productivity in the Public Sector: The Nigerian Experience
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2015-08-11
10.11648/j.jim.20150405.12
http://www.sciencepublishinggroup.com/journal/paperinfo.aspx?journalid=179&doi=10.11648/j.jim.20150405.12
© Science Publishing Group
Uncertainty Handling in Ship Assessment: A Case Study of Bangladesh
http://www.sciencepublishinggroup.com/journal/paperinfo.aspx?journalid=179&doi=10.11648/j.jim.20150405.13
Shipping is the oldest and internationally recognized industry. It helps many national and international businesses by transporting vast amount of goods from one place to another. Most of the businesses in Bangladesh are depended on sea ports. For this reason, shipping services are very important in Bangladesh. To maximize the profit from a ship oriented business, it is essential to select the right ship for intended purpose. However, ship selection is a very critical process, because it requires handling of both qualitative and quantitative information under uncertainty. While evaluating the quality of a ship in Bangladesh, particularly in Chittagong and Mongla sea port, only quantitative parameters are considered. Qualitative and uncertain data are ignored. Sometimes it causes not to select the right ship, as a result, serious losses in businesses. The goal of this study is to overcome the existing limitations of ship selection through handling of both qualitative and quantitative data under uncertainty. In this article, evidential reasoning (ER) approach is used for aggregating both qualitative and quantitative data under uncertainly for ranking among the alternatives and finally selecting the best ship out of many alternatives. The proposed method is applied on five alternative ships of Western Fishers Shipyard Ltd (WFSL). Using the method it has been possible to rank among alternatives successfully and both qualitative and quantitative data have been collated to handle uncertainty in ship selection. It is recommended to use the ER method in ship selection, because it can handle uncertainty and helps businessmen to get maximum benefit from their businesses through selecting the best ship.
Shipping is the oldest and internationally recognized industry. It helps many national and international businesses by transporting vast amount of goods from one place to another. Most of the businesses in Bangladesh are depended on sea ports. For this reason, shipping services are very important in Bangladesh. To maximize the profit from a ship oriented business, it is essential to select the right ship for intended purpose. However, ship selection is a very critical process, because it requires handling of both qualitative and quantitative information under uncertainty. While evaluating the quality of a ship in Bangladesh, particularly in Chittagong and Mongla sea port, only quantitative parameters are considered. Qualitative and uncertain data are ignored. Sometimes it causes not to select the right ship, as a result, serious losses in businesses. The goal of this study is to overcome the existing limitations of ship selection through handling of both qualitative and quantitative data under uncertainty. In this article, evidential reasoning (ER) approach is used for aggregating both qualitative and quantitative data under uncertainly for ranking among the alternatives and finally selecting the best ship out of many alternatives. The proposed method is applied on five alternative ships of Western Fishers Shipyard Ltd (WFSL). Using the method it has been possible to rank among alternatives successfully and both qualitative and quantitative data have been collated to handle uncertainty in ship selection. It is recommended to use the ER method in ship selection, because it can handle uncertainty and helps businessmen to get maximum benefit from their businesses through selecting the best ship.
Uncertainty Handling in Ship Assessment: A Case Study of Bangladesh
doi:10.11648/j.jim.20150405.13
Journal of Investment and Management
2015-08-11
© Science Publishing Group
Muhammed Jamshed Alam Patwary
Mohammad Osiur Rahman
Mohammad Shahadat Hossain
Uncertainty Handling in Ship Assessment: A Case Study of Bangladesh
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http://www.sciencepublishinggroup.com/journal/paperinfo.aspx?journalid=179&doi=10.11648/j.jim.20150405.13
© Science Publishing Group
Impact of Macroeconomic Variables on Stock Returns: Evidence from Bombay Stock Exchange (BSE)
http://www.sciencepublishinggroup.com/journal/paperinfo.aspx?journalid=179&doi=10.11648/j.jim.20150405.14
Numerous empirical studies have examined the relationship between macroeconomic variables and stock returns across different stock markets and time horizons by either outlining the influence of only domestic variables or a few global factors. The aim of this paper is to combine both global and domestic factors and extend this presumed relationship between stock returns and macroeconomic variables to the emerging market of India. Using time-series analysis, this paper employs Vector Autoregression (VAR) to determine the impact of macroeconomic variables on the stock returns of Bombay Stock Exchange (BSE). Findings of this paper indicate that a considerable impact of interest rate, gold price, exchange rate and money supply is observed for the stock returns of BSE. Additionally, a strong influence of the global macroeconomic factor of the world price index is also observed, which implies a gradual integration of BSE towards the global financial markets. Finally, the study highlights the managerial and policy implications, future research directions and limitations from the perspective of India.
Numerous empirical studies have examined the relationship between macroeconomic variables and stock returns across different stock markets and time horizons by either outlining the influence of only domestic variables or a few global factors. The aim of this paper is to combine both global and domestic factors and extend this presumed relationship between stock returns and macroeconomic variables to the emerging market of India. Using time-series analysis, this paper employs Vector Autoregression (VAR) to determine the impact of macroeconomic variables on the stock returns of Bombay Stock Exchange (BSE). Findings of this paper indicate that a considerable impact of interest rate, gold price, exchange rate and money supply is observed for the stock returns of BSE. Additionally, a strong influence of the global macroeconomic factor of the world price index is also observed, which implies a gradual integration of BSE towards the global financial markets. Finally, the study highlights the managerial and policy implications, future research directions and limitations from the perspective of India.
Impact of Macroeconomic Variables on Stock Returns: Evidence from Bombay Stock Exchange (BSE)
doi:10.11648/j.jim.20150405.14
Journal of Investment and Management
2015-08-11
© Science Publishing Group
Nabila Nisha
Impact of Macroeconomic Variables on Stock Returns: Evidence from Bombay Stock Exchange (BSE)
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© Science Publishing Group
The Relationship Between Organizations’ Acquired Knowledge, Skills, Abilities (SKAs) and Shareholders Wealth Maximization: The Mediating Role of Training Investment
http://www.sciencepublishinggroup.com/journal/paperinfo.aspx?journalid=179&doi=10.11648/j.jim.20150405.15
The study examined the relationship between organizations’ acquired knowledge, skills, abilities and shareholders wealth with training playing the mediating role. The sample of the study consisted of organizations that spent 10% or more of its annual budget on training and those whose training budget is less than 10% of the organization’s annual budget. A total of 620 questionnaires were distributed to employees working in various organizations out of which 580 representing 93.5% were retrieved. The sample was drawn using convenience sampling. The data collection instrument was mainly questionnaires supported by the use of Regression models for analysis to be made. Analyzing multiple models, it was discovered that organizations training investment plays a considerable indirect and direct effect with partial mediation between organizations acquired skills, knowledge, abilities and shareholders wealth. Shareholders should allow their agents to invest part of their holdings to develop the human capital of the organization but this should be done with caution since shareholders returns do not depend much on how much organizations spend in developing its human resource capital.
The study examined the relationship between organizations’ acquired knowledge, skills, abilities and shareholders wealth with training playing the mediating role. The sample of the study consisted of organizations that spent 10% or more of its annual budget on training and those whose training budget is less than 10% of the organization’s annual budget. A total of 620 questionnaires were distributed to employees working in various organizations out of which 580 representing 93.5% were retrieved. The sample was drawn using convenience sampling. The data collection instrument was mainly questionnaires supported by the use of Regression models for analysis to be made. Analyzing multiple models, it was discovered that organizations training investment plays a considerable indirect and direct effect with partial mediation between organizations acquired skills, knowledge, abilities and shareholders wealth. Shareholders should allow their agents to invest part of their holdings to develop the human capital of the organization but this should be done with caution since shareholders returns do not depend much on how much organizations spend in developing its human resource capital.
The Relationship Between Organizations’ Acquired Knowledge, Skills, Abilities (SKAs) and Shareholders Wealth Maximization: The Mediating Role of Training Investment
doi:10.11648/j.jim.20150405.15
Journal of Investment and Management
2015-08-11
© Science Publishing Group
Gabriel Dwomoh
Williams Kwasi Boachie
Kofi Kwarteng
The Relationship Between Organizations’ Acquired Knowledge, Skills, Abilities (SKAs) and Shareholders Wealth Maximization: The Mediating Role of Training Investment
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http://www.sciencepublishinggroup.com/journal/paperinfo.aspx?journalid=179&doi=10.11648/j.jim.20150405.15
© Science Publishing Group
Savings, Inflation and Economic Growth Linkages: A Re-Examination with Nigeria Data
http://www.sciencepublishinggroup.com/journal/paperinfo.aspx?journalid=179&doi=10.11648/j.jim.20150405.16
The inter-relationship among savings, inflation and economic growth is an important conjuncture in the linkage evaluation of economic performance. Towards making them sustainable, the Nigeria government has initiated reforms, some of which in the last seven years. Despite these reforms, no study has been undertaken on the linkages among these variables with existing studies having confided themselves to looking only at the relationship between inflation and investment and the impact of inflation and economic growth. Using annual time series data from 1980-2013, this study examined the linkages among savings, inflation and economic growth in Nigeria using the 2-stage least squares (2SLS) method. The study found inflation and real interest to be negatively related with economic growth while exchange rate has positive effect on economic growth. Also economic growth, unemployment and real interest rate negatively affected inflation rate, while indirect taxes had positive impact on inflation. The result further shows that economic growth; exchange rate and foreign direct investment engender savings while depreciation rate endangers savings. The study also established threshold level of 8 percent of inflationary level was found to be consistent with Nigeria growth; beyond this point inflation will endanger growth
The inter-relationship among savings, inflation and economic growth is an important conjuncture in the linkage evaluation of economic performance. Towards making them sustainable, the Nigeria government has initiated reforms, some of which in the last seven years. Despite these reforms, no study has been undertaken on the linkages among these variables with existing studies having confided themselves to looking only at the relationship between inflation and investment and the impact of inflation and economic growth. Using annual time series data from 1980-2013, this study examined the linkages among savings, inflation and economic growth in Nigeria using the 2-stage least squares (2SLS) method. The study found inflation and real interest to be negatively related with economic growth while exchange rate has positive effect on economic growth. Also economic growth, unemployment and real interest rate negatively affected inflation rate, while indirect taxes had positive impact on inflation. The result further shows that economic growth; exchange rate and foreign direct investment engender savings while depreciation rate endangers savings. The study also established threshold level of 8 percent of inflationary level was found to be consistent with Nigeria growth; beyond this point inflation will endanger growth
Savings, Inflation and Economic Growth Linkages: A Re-Examination with Nigeria Data
doi:10.11648/j.jim.20150405.16
Journal of Investment and Management
2015-08-13
© Science Publishing Group
Richardson Kojo Edeme
Innocent Ifelunini
Savings, Inflation and Economic Growth Linkages: A Re-Examination with Nigeria Data
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© Science Publishing Group
Empirical Study on Stock Return Volatility in China's Stock Market
http://www.sciencepublishinggroup.com/journal/paperinfo.aspx?journalid=179&doi=10.11648/j.jim.20150405.17
Wave of financial globalization and financial innovation has brought great changes of the international financial market, the traditional measuring method is not well adapt to these new changes, this requires the presence of the new analysis method. This article will link function to copulas connect theory is introduced into the financial analysis. In this paper, the author makes an empirical analysis of Shenzhen composite index using GRCH family model, and the results show that Chinese stock yield has significant peak fat-tailed features, and have volatility clustering
Wave of financial globalization and financial innovation has brought great changes of the international financial market, the traditional measuring method is not well adapt to these new changes, this requires the presence of the new analysis method. This article will link function to copulas connect theory is introduced into the financial analysis. In this paper, the author makes an empirical analysis of Shenzhen composite index using GRCH family model, and the results show that Chinese stock yield has significant peak fat-tailed features, and have volatility clustering
Empirical Study on Stock Return Volatility in China's Stock Market
doi:10.11648/j.jim.20150405.17
Journal of Investment and Management
2015-08-13
© Science Publishing Group
Diao Yanhua
Guo Siliang
Empirical Study on Stock Return Volatility in China's Stock Market
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© Science Publishing Group
Impact of Motivational Strategies on Employee Motivational Level: A Case Study of National Bank of Pakistan in Azad Jammu and Kashmir
http://www.sciencepublishinggroup.com/journal/paperinfo.aspx?journalid=179&doi=10.11648/j.jim.20150405.18
The study sought to find out the motivational strategies and its impact on employee motivational level. The purpose of the study is to provide effective motivational strategies for banking sector of Azad Kashmir to use to motivate employee’s, improve and increase productivity in organization. The Literature review enables us to understand the various theories on motivation and the effects have on productivity. The researcher adopted a questionnaire to collect primary data regarding what will make employees to perform and increase productivity. The study was conducted by collecting data from sample of 90 respondents selected from five districts of Azad Jammu and Kashmir including Mirpur , Kotli, Palandri and Bagh and Rawalakot using questionnaire. The data was analyzed using frequencies and percentage distribution. The result shows that “Advancement Opportunity” has the highest impact on motivational level on employees working in National Bank of Pakistan working in Azad Kashmir
The study sought to find out the motivational strategies and its impact on employee motivational level. The purpose of the study is to provide effective motivational strategies for banking sector of Azad Kashmir to use to motivate employee’s, improve and increase productivity in organization. The Literature review enables us to understand the various theories on motivation and the effects have on productivity. The researcher adopted a questionnaire to collect primary data regarding what will make employees to perform and increase productivity. The study was conducted by collecting data from sample of 90 respondents selected from five districts of Azad Jammu and Kashmir including Mirpur , Kotli, Palandri and Bagh and Rawalakot using questionnaire. The data was analyzed using frequencies and percentage distribution. The result shows that “Advancement Opportunity” has the highest impact on motivational level on employees working in National Bank of Pakistan working in Azad Kashmir
Impact of Motivational Strategies on Employee Motivational Level: A Case Study of National Bank of Pakistan in Azad Jammu and Kashmir
doi:10.11648/j.jim.20150405.18
Journal of Investment and Management
2015-08-13
© Science Publishing Group
Shagufta Ashraf
Ghulam Mustafa Azam
Waqar Ashraf
Impact of Motivational Strategies on Employee Motivational Level: A Case Study of National Bank of Pakistan in Azad Jammu and Kashmir
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2015-08-13
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© Science Publishing Group
Factors Affecting Information Technology Audit Quality
http://www.sciencepublishinggroup.com/journal/paperinfo.aspx?journalid=179&doi=10.11648/j.jim.20150405.19
Change and the growth of information technology, all aspects of human society have taken in the light of self. Human need, interest in using new technologies emerged as a dominant factor in their organizations and they will force to keep pace with the condition. Since the major factor in advances in information technology in the present world, is the need and necessity. This important, changed the methods and practices and have been transformed of paper-based systems to electronic information systems and software. Accounting and auditing profession, perhaps more than in other areas of financial knowledge have been disposable of Enjoyment and use of the facility is subject to the new environment. New environment recording and reporting of information, has created much effects in the efficiency and effectiveness of the auditing profession And the need to use information technology audit to be felt more than ever. Therefore, in this study, are followed to find the factors affecting on information technology audit quality. In order to, Standard questionnaire was used that test its validity before and also reliability 89% was measured. And results show that from the view of CPAs working in the audit institute and the audit organization, properly accountability of audit team and existence audit framework and process, business criteria and audit scope, auditability, planning and operations, access to resources, relationship with the entity and the business environment, affects IT audit quality
Change and the growth of information technology, all aspects of human society have taken in the light of self. Human need, interest in using new technologies emerged as a dominant factor in their organizations and they will force to keep pace with the condition. Since the major factor in advances in information technology in the present world, is the need and necessity. This important, changed the methods and practices and have been transformed of paper-based systems to electronic information systems and software. Accounting and auditing profession, perhaps more than in other areas of financial knowledge have been disposable of Enjoyment and use of the facility is subject to the new environment. New environment recording and reporting of information, has created much effects in the efficiency and effectiveness of the auditing profession And the need to use information technology audit to be felt more than ever. Therefore, in this study, are followed to find the factors affecting on information technology audit quality. In order to, Standard questionnaire was used that test its validity before and also reliability 89% was measured. And results show that from the view of CPAs working in the audit institute and the audit organization, properly accountability of audit team and existence audit framework and process, business criteria and audit scope, auditability, planning and operations, access to resources, relationship with the entity and the business environment, affects IT audit quality
Factors Affecting Information Technology Audit Quality
doi:10.11648/j.jim.20150405.19
Journal of Investment and Management
2015-08-13
© Science Publishing Group
Yahya Hasas Yeghaneh
Mostafa Zangiabadi
Seyed Mostafa Dehghani Firozabadi
Factors Affecting Information Technology Audit Quality
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© Science Publishing Group
Impact of the Capital Structure Tools on the Performance Indicators in the Listed Companies in Tehran Stock Exchange
http://www.sciencepublishinggroup.com/journal/paperinfo.aspx?journalid=179&doi=10.11648/j.jim.20150405.20
Today, one of the objectives of the financial managers is to maximize shareholder wealth, and in this context, determining the capital structure is a key factor. Due to tax benefits, the use of financial leverage is considered. On the other hand, due to higher interest costs associated with obtaining debt, bankruptcy may also exist. In conclusion, this study examines the impact of capital structure tools on the return on equity, return on assets and return on working capital. This paper examines the data from 2001 to 2011 companies listed in Tehran Stock Exchange. And the results after using the linear regression model, suggest that debt ratio is not affected on the return on equity, but is affected on the return on assets. while debt to net worth ratio and current and long-term debt to net worth ratio is affected on the return on equity. Also, the results show that debt to assets ratio and debt to net worth ratio and current and long-term debt to net worth ratio does not affect on the rate of return on working capital. And debt to net worth ratio and current and long-term debt to net worth ratio does not affect on the rate of return on assets. Overall, the results show that the capital structure affects on the performance of listed companies in Tehran stock exchange
Today, one of the objectives of the financial managers is to maximize shareholder wealth, and in this context, determining the capital structure is a key factor. Due to tax benefits, the use of financial leverage is considered. On the other hand, due to higher interest costs associated with obtaining debt, bankruptcy may also exist. In conclusion, this study examines the impact of capital structure tools on the return on equity, return on assets and return on working capital. This paper examines the data from 2001 to 2011 companies listed in Tehran Stock Exchange. And the results after using the linear regression model, suggest that debt ratio is not affected on the return on equity, but is affected on the return on assets. while debt to net worth ratio and current and long-term debt to net worth ratio is affected on the return on equity. Also, the results show that debt to assets ratio and debt to net worth ratio and current and long-term debt to net worth ratio does not affect on the rate of return on working capital. And debt to net worth ratio and current and long-term debt to net worth ratio does not affect on the rate of return on assets. Overall, the results show that the capital structure affects on the performance of listed companies in Tehran stock exchange
Impact of the Capital Structure Tools on the Performance Indicators in the Listed Companies in Tehran Stock Exchange
doi:10.11648/j.jim.20150405.20
Journal of Investment and Management
2015-08-13
© Science Publishing Group
Mostafa Zangiabadi
Amin Rahimzade
Mahdie Taboli
Impact of the Capital Structure Tools on the Performance Indicators in the Listed Companies in Tehran Stock Exchange
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© Science Publishing Group
Development of a Health Workeforce Monitoring System in Greece
http://www.sciencepublishinggroup.com/journal/paperinfo.aspx?journalid=179&doi=10.11648/j.jim.20150405.27
Background: Recent Greek economic crisis has had a mayor impact on healthcare system. A complete absence of planning human resources leeds to a need for healthcare workforce management tools, among them a re-distribution at a national and regional level following international indicators. Objectives: Aim of the study was to collect data on the current and future demand for and supply of human resources in the Greek health system, to map these data and finally to propose a model for future projections or actions. Methods: Data collected from various sources mainly of Ministry of Education for the supply and Ministry of Health for the demand. These data were aggregated in order tables to be standardized for future standard collection by these Ministries and the National Statistical Authority. The proposed model constitutes a combination between a stock-and-flow model and a workforce-to-population ratio approach. Results: Greece insists to an obvious oversupply of health professionals (over 7.000 annually), while demand can not absorb over 20-25% of these staff. Due to economic crisis, there is an urgent need for reinforcing especially public sector in terms of new hires mainly of nursing and midwifery staff, and re-distribution of all. Conclusions: The main results indicate that health policy makers could reach an optimal matching between future supply of and demand for healthcare workforce by adjusting the flexible supply components. This presupposes an accurate and stable system of data collection. On the demand side, it is also important to collect demographics and other related data that are more indicative of health needs
Background: Recent Greek economic crisis has had a mayor impact on healthcare system. A complete absence of planning human resources leeds to a need for healthcare workforce management tools, among them a re-distribution at a national and regional level following international indicators. Objectives: Aim of the study was to collect data on the current and future demand for and supply of human resources in the Greek health system, to map these data and finally to propose a model for future projections or actions. Methods: Data collected from various sources mainly of Ministry of Education for the supply and Ministry of Health for the demand. These data were aggregated in order tables to be standardized for future standard collection by these Ministries and the National Statistical Authority. The proposed model constitutes a combination between a stock-and-flow model and a workforce-to-population ratio approach. Results: Greece insists to an obvious oversupply of health professionals (over 7.000 annually), while demand can not absorb over 20-25% of these staff. Due to economic crisis, there is an urgent need for reinforcing especially public sector in terms of new hires mainly of nursing and midwifery staff, and re-distribution of all. Conclusions: The main results indicate that health policy makers could reach an optimal matching between future supply of and demand for healthcare workforce by adjusting the flexible supply components. This presupposes an accurate and stable system of data collection. On the demand side, it is also important to collect demographics and other related data that are more indicative of health needs
Development of a Health Workeforce Monitoring System in Greece
doi:10.11648/j.jim.20150405.27
Journal of Investment and Management
2015-08-14
© Science Publishing Group
Christos Zilidis
Catherine Kastanioti
Nikos Polyzos
John Yfantopoulos
Development of a Health Workeforce Monitoring System in Greece
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2015-08-14
10.11648/j.jim.20150405.27
http://www.sciencepublishinggroup.com/journal/paperinfo.aspx?journalid=179&doi=10.11648/j.jim.20150405.27
© Science Publishing Group
Ranking Multi Criteria Decision Making Methods for a Problem by Area Under Receiver Operating Characteristic
http://www.sciencepublishinggroup.com/journal/paperinfo.aspx?journalid=179&doi=10.11648/j.jim.20150405.21
One of the major challenges in decision making is selection among MCDM (multi criteria decision making) methods. These methods do not provide same answer to decision maker. Therefore selecting the best answer is an important dilemma. To solve this problem, methods like Borda and Copeland compilation have been proposed. However, applying these methods leads to a hybrid solution which is not necessarily the best answer. In this paper a new approach is proposed to rank different MCDM methods. This approach is AUROC (area under receiver operating characteristic) which is a data mining tool for ranking classification models. The results would show great potential of applying AUROC for ranking MCDM methods in an immense selection problem with historical outcome
One of the major challenges in decision making is selection among MCDM (multi criteria decision making) methods. These methods do not provide same answer to decision maker. Therefore selecting the best answer is an important dilemma. To solve this problem, methods like Borda and Copeland compilation have been proposed. However, applying these methods leads to a hybrid solution which is not necessarily the best answer. In this paper a new approach is proposed to rank different MCDM methods. This approach is AUROC (area under receiver operating characteristic) which is a data mining tool for ranking classification models. The results would show great potential of applying AUROC for ranking MCDM methods in an immense selection problem with historical outcome
Ranking Multi Criteria Decision Making Methods for a Problem by Area Under Receiver Operating Characteristic
doi:10.11648/j.jim.20150405.21
Journal of Investment and Management
2015-08-14
© Science Publishing Group
Seyed Behnam Khakbaz
Maryam Karimi Davijani
Ranking Multi Criteria Decision Making Methods for a Problem by Area Under Receiver Operating Characteristic
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2015-08-14
2015-08-14
10.11648/j.jim.20150405.21
http://www.sciencepublishinggroup.com/journal/paperinfo.aspx?journalid=179&doi=10.11648/j.jim.20150405.21
© Science Publishing Group
The Level of Compliance with International Accounting Standard IAS 18 by Listed Firms in Bahrain
http://www.sciencepublishinggroup.com/journal/paperinfo.aspx?journalid=179&doi=10.11648/j.jim.20150405.22
This Study examines the association between five firm-specific characteristics and the level of compliance with International Accounting Standards (IAS 18) by listed Firms in Bahrain Bourse. A self-constructed compliance checklist was developed and the compliance index was derived to represent the level of compliance among publically traded firms in Bahrain Bourse for the year 2013 to IAS 18 disclosure requirements. The results detected an aggregate mean compliance of 63% to IAS 18 disclosure requirements. A significant positive relationship was found between the level of compliance and a company’s size, and auditor type. A significant negative relationship was found between the IAS 18 disclosure level and a company’s debt level (leverage). However, a significant relationship between the level of IAS 18 disclosure level and a company’s profits or age could not be established in this research. The results of this research can benefit investors and companies as well, as the results will determine what level of compliance to IAS 18 are listed companies in Bahrain Bourse are committed to, and how transparent are the revenues they are reporting in their financials
This Study examines the association between five firm-specific characteristics and the level of compliance with International Accounting Standards (IAS 18) by listed Firms in Bahrain Bourse. A self-constructed compliance checklist was developed and the compliance index was derived to represent the level of compliance among publically traded firms in Bahrain Bourse for the year 2013 to IAS 18 disclosure requirements. The results detected an aggregate mean compliance of 63% to IAS 18 disclosure requirements. A significant positive relationship was found between the level of compliance and a company’s size, and auditor type. A significant negative relationship was found between the IAS 18 disclosure level and a company’s debt level (leverage). However, a significant relationship between the level of IAS 18 disclosure level and a company’s profits or age could not be established in this research. The results of this research can benefit investors and companies as well, as the results will determine what level of compliance to IAS 18 are listed companies in Bahrain Bourse are committed to, and how transparent are the revenues they are reporting in their financials
The Level of Compliance with International Accounting Standard IAS 18 by Listed Firms in Bahrain
doi:10.11648/j.jim.20150405.22
Journal of Investment and Management
2015-08-14
© Science Publishing Group
Isa Adnan Budaraj
Adel Mohammed Sarea
The Level of Compliance with International Accounting Standard IAS 18 by Listed Firms in Bahrain
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2015-08-14
2015-08-14
10.11648/j.jim.20150405.22
http://www.sciencepublishinggroup.com/journal/paperinfo.aspx?journalid=179&doi=10.11648/j.jim.20150405.22
© Science Publishing Group
Conflict Resolution and Management: The Macro Perspective
http://www.sciencepublishinggroup.com/journal/paperinfo.aspx?journalid=179&doi=10.11648/j.jim.20150405.25
Conflict is an inevitable phenomenon in this universe as long as humankind exists. This implies that conflict is natural to human nature. However, conflicts usually occur from the pursuit of divergent interests, goals and aspirations by individuals or groups in a defined social or physical environment. Thus, conflict is present when two or more parties perceive that their interests are incompatible, express hostile attitudes, or take, pursue their interests through actions that damage the other parties. Our contemporary world is experiencing varied dimensions of conflicts cutting across religious, tribal, national, racial and socio-cultural inclinations. These macro dimensions of conflicts are open or external expression of dissatisfaction of the aggrieved group which is aimed at injuring other group(s) or reducing if not totally eliminating the existing relationship between the groups. Conflict that has degenerated to macro level becomes difficult and complex for the parties involved to personally resolve their differences alone without the aid of external assistance. Hence, this paper addressed effective styles of conflict resolution and management from the macro perspective
Conflict is an inevitable phenomenon in this universe as long as humankind exists. This implies that conflict is natural to human nature. However, conflicts usually occur from the pursuit of divergent interests, goals and aspirations by individuals or groups in a defined social or physical environment. Thus, conflict is present when two or more parties perceive that their interests are incompatible, express hostile attitudes, or take, pursue their interests through actions that damage the other parties. Our contemporary world is experiencing varied dimensions of conflicts cutting across religious, tribal, national, racial and socio-cultural inclinations. These macro dimensions of conflicts are open or external expression of dissatisfaction of the aggrieved group which is aimed at injuring other group(s) or reducing if not totally eliminating the existing relationship between the groups. Conflict that has degenerated to macro level becomes difficult and complex for the parties involved to personally resolve their differences alone without the aid of external assistance. Hence, this paper addressed effective styles of conflict resolution and management from the macro perspective
Conflict Resolution and Management: The Macro Perspective
doi:10.11648/j.jim.20150405.25
Journal of Investment and Management
2015-08-18
© Science Publishing Group
Moses Onyesom
Emeke Francis Igbesi
Conflict Resolution and Management: The Macro Perspective
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255
2015-08-18
2015-08-18
10.11648/j.jim.20150405.25
http://www.sciencepublishinggroup.com/journal/paperinfo.aspx?journalid=179&doi=10.11648/j.jim.20150405.25
© Science Publishing Group
An Impact of Banking Activities of Private Commercial Islamic Bank to Economic Development in Bangladesh: A Case Study on First Security Islami Bank Limited (FSIBL)
http://www.sciencepublishinggroup.com/journal/paperinfo.aspx?journalid=179&doi=10.11648/j.jim.20150405.28
Banks are the most important parts of the financial system of any country. Specially, developing country like Bangladesh, proper banking system is very important and essential to play a vital role, because capital market system in Bangladesh is not advanced like other country’s capital market. The study analyses published texts, articles, websites and annual report of this bank through a content analysis. Key findings of this study manifest the contribution of this bank in different areas of economic development in Bangladesh like generating employment, earning foreign remittance, strengthening rural economy, promoting ecology and green banking, boosting industrialization, developing the SMEs, assisting in foreign trade (import-export) and developing the housing sector etc. This study also identifies FSIBL’s significant contribution to the national exchequer. This paper contributes to the field of economic development of Bangladesh and the role of FSIBL behind it and fills the gap of literature in this specific area. The study suggests that Islamic banking has a great impact on the economic development in Bangladesh
Banks are the most important parts of the financial system of any country. Specially, developing country like Bangladesh, proper banking system is very important and essential to play a vital role, because capital market system in Bangladesh is not advanced like other country’s capital market. The study analyses published texts, articles, websites and annual report of this bank through a content analysis. Key findings of this study manifest the contribution of this bank in different areas of economic development in Bangladesh like generating employment, earning foreign remittance, strengthening rural economy, promoting ecology and green banking, boosting industrialization, developing the SMEs, assisting in foreign trade (import-export) and developing the housing sector etc. This study also identifies FSIBL’s significant contribution to the national exchequer. This paper contributes to the field of economic development of Bangladesh and the role of FSIBL behind it and fills the gap of literature in this specific area. The study suggests that Islamic banking has a great impact on the economic development in Bangladesh
An Impact of Banking Activities of Private Commercial Islamic Bank to Economic Development in Bangladesh: A Case Study on First Security Islami Bank Limited (FSIBL)
doi:10.11648/j.jim.20150405.28
Journal of Investment and Management
2015-08-20
© Science Publishing Group
Md. Nazirul Islam Sarker
Md. Harun Or Rashid
An Impact of Banking Activities of Private Commercial Islamic Bank to Economic Development in Bangladesh: A Case Study on First Security Islami Bank Limited (FSIBL)
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2015-08-20
2015-08-20
10.11648/j.jim.20150405.28
http://www.sciencepublishinggroup.com/journal/paperinfo.aspx?journalid=179&doi=10.11648/j.jim.20150405.28
© Science Publishing Group
Impact of Monetary Policy on Stock Price: Evidence from Bangladesh
http://www.sciencepublishinggroup.com/journal/paperinfo.aspx?journalid=179&doi=10.11648/j.jim.20150405.29
This study intends to explore the impact of monetary policy on the performance of stock market from the perspective of a developing country-namely Bangladesh. The issue of monetary policy has been a subject of debate among several financial economists since a long time. Monetary policy is basically that part of the macroeconomics, which aims to achieve a set of objectives that are, conveyed in terms of several macroeconomic variables such as inflation, real output, money supply, exchange rate etc. As a result, any change in the monetary policy will have an effect on these variables. Understanding the sensitivity of stock market with respect to these variables of monetary policy frameworks is very important, particularly to recognize the monetary policy mechanism transmission into the stock market. This paper investigates whether current economic activities or more specifically the monetary policy tools of Bangladesh can explain stock market returns by using a number of econometric models of measuring long-run and short-run relationship between monetary policy tools and stock price
This study intends to explore the impact of monetary policy on the performance of stock market from the perspective of a developing country-namely Bangladesh. The issue of monetary policy has been a subject of debate among several financial economists since a long time. Monetary policy is basically that part of the macroeconomics, which aims to achieve a set of objectives that are, conveyed in terms of several macroeconomic variables such as inflation, real output, money supply, exchange rate etc. As a result, any change in the monetary policy will have an effect on these variables. Understanding the sensitivity of stock market with respect to these variables of monetary policy frameworks is very important, particularly to recognize the monetary policy mechanism transmission into the stock market. This paper investigates whether current economic activities or more specifically the monetary policy tools of Bangladesh can explain stock market returns by using a number of econometric models of measuring long-run and short-run relationship between monetary policy tools and stock price
Impact of Monetary Policy on Stock Price: Evidence from Bangladesh
doi:10.11648/j.jim.20150405.29
Journal of Investment and Management
2015-08-20
© Science Publishing Group
Afrin Rifat
Impact of Monetary Policy on Stock Price: Evidence from Bangladesh
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2015-08-20
2015-08-20
10.11648/j.jim.20150405.29
http://www.sciencepublishinggroup.com/journal/paperinfo.aspx?journalid=179&doi=10.11648/j.jim.20150405.29
© Science Publishing Group
Optimizing Customer Satisfaction by Using Kano’s Model for Eco-efficiency and Green Design
http://www.sciencepublishinggroup.com/journal/paperinfo.aspx?journalid=179&doi=10.11648/j.jim.20150405.30
This paper presents Kano model to measure customer satisfaction for the eco-efficiency and green design. This method can be used to support the designer for reducing the environmental impact of the product throughout its life cycle and as a supporting tool for designers to invent novel, useful, and environmentally friendly products, our approach is to develop this method by linking concepts from marketing and environments to show the competitive advantage of creating a high level of customer satisfaction by adopting the requirements of the eco-efficiency and green design. For that I will begins with a brief discussion for the eco-efficiency and green design then identify the requirements of the eco-efficiency and green design and lastly propose Kano model to measure customer satisfaction for the eco-efficiency and green design. Kano’s model of customer satisfaction, a methodology is introduced which determines which influence the components of products and services have on customer satisfaction. And also demonstrate how the results of a customer survey can be interpreted and how conclusions can be drawn and used to demonstrate the customer satisfaction for eco-efficiency and green design. As we see the result of the study shows that the eco-efficiency and green design for the goods and services have a competitive advantage
This paper presents Kano model to measure customer satisfaction for the eco-efficiency and green design. This method can be used to support the designer for reducing the environmental impact of the product throughout its life cycle and as a supporting tool for designers to invent novel, useful, and environmentally friendly products, our approach is to develop this method by linking concepts from marketing and environments to show the competitive advantage of creating a high level of customer satisfaction by adopting the requirements of the eco-efficiency and green design. For that I will begins with a brief discussion for the eco-efficiency and green design then identify the requirements of the eco-efficiency and green design and lastly propose Kano model to measure customer satisfaction for the eco-efficiency and green design. Kano’s model of customer satisfaction, a methodology is introduced which determines which influence the components of products and services have on customer satisfaction. And also demonstrate how the results of a customer survey can be interpreted and how conclusions can be drawn and used to demonstrate the customer satisfaction for eco-efficiency and green design. As we see the result of the study shows that the eco-efficiency and green design for the goods and services have a competitive advantage
Optimizing Customer Satisfaction by Using Kano’s Model for Eco-efficiency and Green Design
doi:10.11648/j.jim.20150405.30
Journal of Investment and Management
2015-08-20
© Science Publishing Group
Lara F. Hourani
Optimizing Customer Satisfaction by Using Kano’s Model for Eco-efficiency and Green Design
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2015-08-20
2015-08-20
10.11648/j.jim.20150405.30
http://www.sciencepublishinggroup.com/journal/paperinfo.aspx?journalid=179&doi=10.11648/j.jim.20150405.30
© Science Publishing Group
Identifying Stakeholders in Land Use Management Process and Its Critical Factors in ASEAN
http://www.sciencepublishinggroup.com/journal/paperinfo.aspx?journalid=179&doi=10.11648/j.jim.20150405.24
The main aim of this qualitative-based research is two folds: to identify the main stakeholders who are directly and indirectly impacted by land and who have actually or potentially influence on land use management (LUM) and the critical factors which determine the smooth coordination and cooperation among stakeholders in member countries of the Association of Southeast Asian Nations (ASEAN). Through reviewing available key literature in individual ASEAN member states (AMSs), it shows that at the macro (aggregate)-level, there are three key stakeholders in LUM, i.e. government, companies, and community. Whereas, at the micro (disaggregate)-level, there can be a large number of stakeholders. With respect to government, many department or agencies may involve in LUM. One important finding of this study is that individual villagers or farmers are not always easy to be integrated in the land use planning and LUM; while farmer groups should be the engine of this integration
The main aim of this qualitative-based research is two folds: to identify the main stakeholders who are directly and indirectly impacted by land and who have actually or potentially influence on land use management (LUM) and the critical factors which determine the smooth coordination and cooperation among stakeholders in member countries of the Association of Southeast Asian Nations (ASEAN). Through reviewing available key literature in individual ASEAN member states (AMSs), it shows that at the macro (aggregate)-level, there are three key stakeholders in LUM, i.e. government, companies, and community. Whereas, at the micro (disaggregate)-level, there can be a large number of stakeholders. With respect to government, many department or agencies may involve in LUM. One important finding of this study is that individual villagers or farmers are not always easy to be integrated in the land use planning and LUM; while farmer groups should be the engine of this integration
Identifying Stakeholders in Land Use Management Process and Its Critical Factors in ASEAN
doi:10.11648/j.jim.20150405.24
Journal of Investment and Management
2015-08-14
© Science Publishing Group
Tulus Tahi Hamonangan Tambunan
Identifying Stakeholders in Land Use Management Process and Its Critical Factors in ASEAN
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2015-08-14
2015-08-14
10.11648/j.jim.20150405.24
http://www.sciencepublishinggroup.com/journal/paperinfo.aspx?journalid=179&doi=10.11648/j.jim.20150405.24
© Science Publishing Group
Does Earnings Management Reflect Real Condition of Listed Companies or It Does Whitewashing
http://www.sciencepublishinggroup.com/journal/paperinfo.aspx?journalid=179&doi=10.11648/j.jim.20150405.23
This paper investigates the action、the motivation and the character of earnings management in the process of IPO using a sample of 281 IPO firms in the Growing Enterprise Market(GEM) of A-share market of Shenzhen Stock Exchange during 2009~2011. First, the evidence result shows that these listed companies revise earnings upwards in the year of issuance, while revise earnings downwards in the first year of post-IPO. Second, there is a significant correlation between these listed companies’ initial offering prices and the level of earnings management which illustrate one of the motivations of earnings management is the high initial offering price, even though this correlation between them is weak. Third, the level of earnings management of those listed companies who belong to manufacturing industry is less than that of those listed companies who don’t belong to manufacturing industry in the year of issuance.
This paper investigates the action、the motivation and the character of earnings management in the process of IPO using a sample of 281 IPO firms in the Growing Enterprise Market(GEM) of A-share market of Shenzhen Stock Exchange during 2009~2011. First, the evidence result shows that these listed companies revise earnings upwards in the year of issuance, while revise earnings downwards in the first year of post-IPO. Second, there is a significant correlation between these listed companies’ initial offering prices and the level of earnings management which illustrate one of the motivations of earnings management is the high initial offering price, even though this correlation between them is weak. Third, the level of earnings management of those listed companies who belong to manufacturing industry is less than that of those listed companies who don’t belong to manufacturing industry in the year of issuance.
Does Earnings Management Reflect Real Condition of Listed Companies or It Does Whitewashing
doi:10.11648/j.jim.20150405.23
Journal of Investment and Management
2015-08-14
© Science Publishing Group
Bai Yinghui
Xiong Yuanyuan
Wang Binru
Does Earnings Management Reflect Real Condition of Listed Companies or It Does Whitewashing
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2015-08-14
2015-08-14
10.11648/j.jim.20150405.23
http://www.sciencepublishinggroup.com/journal/paperinfo.aspx?journalid=179&doi=10.11648/j.jim.20150405.23
© Science Publishing Group
On State Budget in the North Central of Nigeria: Analysis of Variance (ANOVA) Approach
http://www.sciencepublishinggroup.com/journal/paperinfo.aspx?journalid=179&doi=10.11648/j.jim.20150406.12
This study examine the comparative analysis of state budget North central region of Nigeria, the aim focus on testing if there is significant differentin state budgeting allocation among the state in the North central of Nigeria and also if there is significant different in budgeting allocation within the years of consideration in the same Region, at the end of the analysis of the result obtained it was observed that the budget allocation for Benue state has the highest and Kwara has the lowest budget allocation since 2005-2013, also indicate that there is significant different in budget allocation within the year 2005-2013
This study examine the comparative analysis of state budget North central region of Nigeria, the aim focus on testing if there is significant differentin state budgeting allocation among the state in the North central of Nigeria and also if there is significant different in budgeting allocation within the years of consideration in the same Region, at the end of the analysis of the result obtained it was observed that the budget allocation for Benue state has the highest and Kwara has the lowest budget allocation since 2005-2013, also indicate that there is significant different in budget allocation within the year 2005-2013
On State Budget in the North Central of Nigeria: Analysis of Variance (ANOVA) Approach
doi:10.11648/j.jim.20150406.12
Journal of Investment and Management
2015-08-22
© Science Publishing Group
Muritala Abdulkabir
Raji Surajudeen Tunde
On State Budget in the North Central of Nigeria: Analysis of Variance (ANOVA) Approach
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300
2015-08-22
2015-08-22
10.11648/j.jim.20150406.12
http://www.sciencepublishinggroup.com/journal/paperinfo.aspx?journalid=179&doi=10.11648/j.jim.20150406.12
© Science Publishing Group
Selecting a Project Manager from Multiple Alternatives
http://www.sciencepublishinggroup.com/journal/paperinfo.aspx?journalid=179&doi=10.11648/j.jim.20150406.11
To reduce subjectivity in the choice of the project manager (and in a broader sense - the manager or specialist), proposed to use the analytic hierarchy process, Saaty proposed and widely used in various applications. The article details the procedure for selecting candidates for the position of alternative project manager. This article is intended for beginners and not very novice leaders.
To reduce subjectivity in the choice of the project manager (and in a broader sense - the manager or specialist), proposed to use the analytic hierarchy process, Saaty proposed and widely used in various applications. The article details the procedure for selecting candidates for the position of alternative project manager. This article is intended for beginners and not very novice leaders.
Selecting a Project Manager from Multiple Alternatives
doi:10.11648/j.jim.20150406.11
Journal of Investment and Management
2015-08-20
© Science Publishing Group
Igor M. Neroslavsky
Selecting a Project Manager from Multiple Alternatives
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2015-08-20
10.11648/j.jim.20150406.11
http://www.sciencepublishinggroup.com/journal/paperinfo.aspx?journalid=179&doi=10.11648/j.jim.20150406.11
© Science Publishing Group
Miracle Fruit - Miracle Berry (Synsepalum Dulcificum Daniell)-Basic Aspects for Contextualization
http://www.sciencepublishinggroup.com/journal/paperinfo.aspx?journalid=179&doi=10.11648/j.jim.20150406.16
Among the wide range of exotic fruits there are many belonging to the group of berries, as mentioned in specialized books due their attributes, they are fruits which give or provide to the human body a series of important nutritional benefits, like: providing a low-calorie intake, zero-cholesterol, and a lot of fiber per serving; supplying significant amounts of C vitamin and folic acid, several antioxidants, minerals and vitamins. For all these reasons and more, it is highly recommend their inclusion in the daily diet of humans. Miracle fruit or miracle berry (Synsepalum dulcificum Daniell), as cited in specialized studies revealed representative rates of vitamin C compared to other fruits and vegetables, those rates are almost as important as certain varieties of lemons, making from sweet berries as also called, fruits to study within the group of possible foods improving life quality in humans, besides their possible anti-cancer effect by having a great percent of important antioxidants; until now it is all speculation, because there is only one known significant attribute in this kind of berry: to change bitter or acid flavors in a more pleasant taste. Miraculin is the agent that has the effect of changing taste buds to give the feeling of sweet and acidic foods is caused by masking acid glycoprotein. Miracle fruit is a simple tree or a shrub native to Africa from two to five meters high and not so pleasant appearance, these particularities and its name, miracle fruit, makes this shrub practically unknown in the Colombian scientific and agricultural communities, nothing or not much is known about it and several of its attributes are known in our country, nowadays, due to studies from other countries. This fruit is included within the so-called promising fruits classification; their special characteristics described above achieves a special attention to fulfil an important role with a great assortment of possible applications in products development and its implications in the commercial context due to reduced field of industrial researches on this plant. Is here where product development can give a hand to the knowledge of what could be a diversification of raw materials in the world's only known the properties given by the glycoprotein, this is where you enter in fields where the investigative process is incipient so it is necessary to resort to exploratory methodology of how they could make the process of getting a product from purely industrial product development and as you will get a base or principle for an agro-industrial product based on a fruit little studied and known, which needs support from industry for research and development, so that the project in terms of the research presented is only in the planning of a possible scenario a fruit that has a large agribusiness potential.
Among the wide range of exotic fruits there are many belonging to the group of berries, as mentioned in specialized books due their attributes, they are fruits which give or provide to the human body a series of important nutritional benefits, like: providing a low-calorie intake, zero-cholesterol, and a lot of fiber per serving; supplying significant amounts of C vitamin and folic acid, several antioxidants, minerals and vitamins. For all these reasons and more, it is highly recommend their inclusion in the daily diet of humans. Miracle fruit or miracle berry (Synsepalum dulcificum Daniell), as cited in specialized studies revealed representative rates of vitamin C compared to other fruits and vegetables, those rates are almost as important as certain varieties of lemons, making from sweet berries as also called, fruits to study within the group of possible foods improving life quality in humans, besides their possible anti-cancer effect by having a great percent of important antioxidants; until now it is all speculation, because there is only one known significant attribute in this kind of berry: to change bitter or acid flavors in a more pleasant taste. Miraculin is the agent that has the effect of changing taste buds to give the feeling of sweet and acidic foods is caused by masking acid glycoprotein. Miracle fruit is a simple tree or a shrub native to Africa from two to five meters high and not so pleasant appearance, these particularities and its name, miracle fruit, makes this shrub practically unknown in the Colombian scientific and agricultural communities, nothing or not much is known about it and several of its attributes are known in our country, nowadays, due to studies from other countries. This fruit is included within the so-called promising fruits classification; their special characteristics described above achieves a special attention to fulfil an important role with a great assortment of possible applications in products development and its implications in the commercial context due to reduced field of industrial researches on this plant. Is here where product development can give a hand to the knowledge of what could be a diversification of raw materials in the world's only known the properties given by the glycoprotein, this is where you enter in fields where the investigative process is incipient so it is necessary to resort to exploratory methodology of how they could make the process of getting a product from purely industrial product development and as you will get a base or principle for an agro-industrial product based on a fruit little studied and known, which needs support from industry for research and development, so that the project in terms of the research presented is only in the planning of a possible scenario a fruit that has a large agribusiness potential.
Miracle Fruit - Miracle Berry (Synsepalum Dulcificum Daniell)-Basic Aspects for Contextualization
doi:10.11648/j.jim.20150406.16
Journal of Investment and Management
2015-08-31
© Science Publishing Group
Jaime Ricardo Laguna Chacón
Miracle Fruit - Miracle Berry (Synsepalum Dulcificum Daniell)-Basic Aspects for Contextualization
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333
2015-08-31
2015-08-31
10.11648/j.jim.20150406.16
http://www.sciencepublishinggroup.com/journal/paperinfo.aspx?journalid=179&doi=10.11648/j.jim.20150406.16
© Science Publishing Group
Effect of Mortgage Market Risk on Mortgage Uptake: A Case Study of Mortgage Lenders in Kenya
http://www.sciencepublishinggroup.com/journal/paperinfo.aspx?journalid=179&doi=10.11648/j.jim.20150406.17
Mortgage market is a financial system that provides opportunity for originating and trading mortgage loans. A mortgage loan is used for financing real estate investments. Although there has been a remarkable increase in demand for real estate investments in Kenya the amount of mortgage uptake is still low. Studies reveal risks as important macroeconomic variables in the mortgage market. However the effect of these risks on mortgage uptake in Kenya is inconclusive. The purpose of this study was to evaluate the effect of mortgage market risk on mortgage uptake. The objectives of the study were to determine the effect of credit risk, interest rate risk, price risk and liquidity risk on mortgage uptake in mortgage lending institutions in Kenya. Causal research design was used to establish the effect of mortgage market risk on mortgage uptake. Purposive sampling was used to select a sample size of 27 out of 37 mortgage lenders that had been involved in mortgage lending since 2008 to 2013. Secondary data was obtained from Central Bank of Kenya reports and mortgage special reports for the period under study. The assumptions that form a basis for use of the regression model were tested using homoscedasticity and autocorrelation. Ordinary Least Square method was used to determine the cause effect relationship among variables while hypotheses were tested at 5% significance level. The overall model was found to be significant with F=13.474 and p-value (0.00 < 0.05). The findings revealed that risks faced by lenders affect mortgage uptake such that if the risk involved in lending is high lenders limit the amount of mortgage lending. The study recommended that lenders should ensure risks are well managed so as to increase mortgage uptake. The findings would form a basis for lenders to formulate risk management strategies that would help to mitigate risks and increase mortgage uptake. The study also forms a basis for further research and adds to the existing body of knowledge.
Mortgage market is a financial system that provides opportunity for originating and trading mortgage loans. A mortgage loan is used for financing real estate investments. Although there has been a remarkable increase in demand for real estate investments in Kenya the amount of mortgage uptake is still low. Studies reveal risks as important macroeconomic variables in the mortgage market. However the effect of these risks on mortgage uptake in Kenya is inconclusive. The purpose of this study was to evaluate the effect of mortgage market risk on mortgage uptake. The objectives of the study were to determine the effect of credit risk, interest rate risk, price risk and liquidity risk on mortgage uptake in mortgage lending institutions in Kenya. Causal research design was used to establish the effect of mortgage market risk on mortgage uptake. Purposive sampling was used to select a sample size of 27 out of 37 mortgage lenders that had been involved in mortgage lending since 2008 to 2013. Secondary data was obtained from Central Bank of Kenya reports and mortgage special reports for the period under study. The assumptions that form a basis for use of the regression model were tested using homoscedasticity and autocorrelation. Ordinary Least Square method was used to determine the cause effect relationship among variables while hypotheses were tested at 5% significance level. The overall model was found to be significant with F=13.474 and p-value (0.00 < 0.05). The findings revealed that risks faced by lenders affect mortgage uptake such that if the risk involved in lending is high lenders limit the amount of mortgage lending. The study recommended that lenders should ensure risks are well managed so as to increase mortgage uptake. The findings would form a basis for lenders to formulate risk management strategies that would help to mitigate risks and increase mortgage uptake. The study also forms a basis for further research and adds to the existing body of knowledge.
Effect of Mortgage Market Risk on Mortgage Uptake: A Case Study of Mortgage Lenders in Kenya
doi:10.11648/j.jim.20150406.17
Journal of Investment and Management
2015-09-02
© Science Publishing Group
Grace Melissa Akenga
Margaret Akinyi Olang
Nebat Mugenda Galo
Effect of Mortgage Market Risk on Mortgage Uptake: A Case Study of Mortgage Lenders in Kenya
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347
347
2015-09-02
2015-09-02
10.11648/j.jim.20150406.17
http://www.sciencepublishinggroup.com/journal/paperinfo.aspx?journalid=179&doi=10.11648/j.jim.20150406.17
© Science Publishing Group
Financing the Expansion of Family Businesses in Ghana: Which Way to Go, Debt or Equity
http://www.sciencepublishinggroup.com/journal/paperinfo.aspx?journalid=179&doi=10.11648/j.jim.20150406.13
Financing activities are crucial exercises in any organizational set-up. It has attracted intense debate and scholarly attention in the financial management arena over the years, whether businesses should opt for debt or equity financing to expand their businesses or not. This paper attempts to ascertain the type of finance that family business operators in Ghana use to expand their business using Ashanti Region as the study area.Questionnaires were administered to 148 family businesses in Ghana. Descriptive survey study design was adopted to achieve the envisaged aims of the study. A total of 150 questionnaires were administered but 148 family businesses responded. Generally, the study revealed that founders or owner-managers use equity financing (68.92 %) as a source of start-up capital to commence their business activities. Also, founders or owner-managers admitted that they will only allow external investors (venture capitalist and business angels) to come in, if they would be prepared to offer advice and expertise to them alone, and nothing more.To establish whether family business use debt or equity financing for their expansion activities, a total of seven variables were used to measure the level of acceptance among the family business operators. These variables were analyzed using principle component factor analysis with varimax rotation.Varimax rotation with Kaiser Normalization was done to simplify and minimize the number of factors to achieve meaningful construction. As a result, 7 crucial variables were established as the sources of development finance by family businesses, which include external equity funding (venture capital and business angel), equity (family & friends, partnership) funding, rotational savings, owner’s equity, debt funding, re-invest profits earned, and government support, 4 factors are also established as sources of development finance by family businesses namely internal investment fund, mixed investment fund, external investment fund (funds from non family members) and source from anywhere. The paper seeks to establish that family business operators in Ghana utilize both debt and equity financing (mixed investment) for their business developmental activities. However, the equity financing is limited to family & friends, and partners alone and not private equity investors-venture capitalist and business angels. The study recommends that Ghana Venture Capital Trust Fund and venture capital companies should embark on massive educational and information program on venture capital support activities in order to disseminate the needed information to family business owners concerning the financing options and support services available to them.
Financing activities are crucial exercises in any organizational set-up. It has attracted intense debate and scholarly attention in the financial management arena over the years, whether businesses should opt for debt or equity financing to expand their businesses or not. This paper attempts to ascertain the type of finance that family business operators in Ghana use to expand their business using Ashanti Region as the study area.Questionnaires were administered to 148 family businesses in Ghana. Descriptive survey study design was adopted to achieve the envisaged aims of the study. A total of 150 questionnaires were administered but 148 family businesses responded. Generally, the study revealed that founders or owner-managers use equity financing (68.92 %) as a source of start-up capital to commence their business activities. Also, founders or owner-managers admitted that they will only allow external investors (venture capitalist and business angels) to come in, if they would be prepared to offer advice and expertise to them alone, and nothing more.To establish whether family business use debt or equity financing for their expansion activities, a total of seven variables were used to measure the level of acceptance among the family business operators. These variables were analyzed using principle component factor analysis with varimax rotation.Varimax rotation with Kaiser Normalization was done to simplify and minimize the number of factors to achieve meaningful construction. As a result, 7 crucial variables were established as the sources of development finance by family businesses, which include external equity funding (venture capital and business angel), equity (family & friends, partnership) funding, rotational savings, owner’s equity, debt funding, re-invest profits earned, and government support, 4 factors are also established as sources of development finance by family businesses namely internal investment fund, mixed investment fund, external investment fund (funds from non family members) and source from anywhere. The paper seeks to establish that family business operators in Ghana utilize both debt and equity financing (mixed investment) for their business developmental activities. However, the equity financing is limited to family & friends, and partners alone and not private equity investors-venture capitalist and business angels. The study recommends that Ghana Venture Capital Trust Fund and venture capital companies should embark on massive educational and information program on venture capital support activities in order to disseminate the needed information to family business owners concerning the financing options and support services available to them.
Financing the Expansion of Family Businesses in Ghana: Which Way to Go, Debt or Equity
doi:10.11648/j.jim.20150406.13
Journal of Investment and Management
2015-08-31
© Science Publishing Group
Joseph Yensu
Edmond Oppong-Peprah
Elizabeth Dwomo-Fokuo
Francis Boadu
Anthony Kusi
Financing the Expansion of Family Businesses in Ghana: Which Way to Go, Debt or Equity
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310
310
2015-08-31
2015-08-31
10.11648/j.jim.20150406.13
http://www.sciencepublishinggroup.com/journal/paperinfo.aspx?journalid=179&doi=10.11648/j.jim.20150406.13
© Science Publishing Group
The Impact of Regulatory Environment on the Effectiveness of Small and Medium Scale Enterprises: A Study of Selected Small and Medium Scale Enterprise in Owerri
http://www.sciencepublishinggroup.com/journal/paperinfo.aspx?journalid=179&doi=10.11648/j.jim.20150406.14
This paper examines the impact of regulatory environment on the effectiveness of small and medium scale enterprises. The study employed a survey approach and used the questionnaire as its major source of data collection. In order to guide the study, two research questions and hypotheses that are consistent with the objectives of the study were raised. The population of study consists of 105 staff of selected five small and medium scale enterprises in Owerri. The researchers used purposive sampling technique to select 89 members of staff as the sampled unit. The mean score was the tool for data analysis, and from the findings, the researchers concludes that regulatory environment has significant impact on business competitiveness and innovativeness which were used to proxy effectiveness of small and medium scale enterprises. Based on the findings also, the researchers among others recommended that consultation between SME regulators and operators of SMEs can help address some of the harsh consequences of the regulatory environment.
This paper examines the impact of regulatory environment on the effectiveness of small and medium scale enterprises. The study employed a survey approach and used the questionnaire as its major source of data collection. In order to guide the study, two research questions and hypotheses that are consistent with the objectives of the study were raised. The population of study consists of 105 staff of selected five small and medium scale enterprises in Owerri. The researchers used purposive sampling technique to select 89 members of staff as the sampled unit. The mean score was the tool for data analysis, and from the findings, the researchers concludes that regulatory environment has significant impact on business competitiveness and innovativeness which were used to proxy effectiveness of small and medium scale enterprises. Based on the findings also, the researchers among others recommended that consultation between SME regulators and operators of SMEs can help address some of the harsh consequences of the regulatory environment.
The Impact of Regulatory Environment on the Effectiveness of Small and Medium Scale Enterprises: A Study of Selected Small and Medium Scale Enterprise in Owerri
doi:10.11648/j.jim.20150406.14
Journal of Investment and Management
2015-08-31
© Science Publishing Group
Chikwe Goddey Chukwudi
Joel Augustus-Daddie
Achiole Emmanuel Ayozie
The Impact of Regulatory Environment on the Effectiveness of Small and Medium Scale Enterprises: A Study of Selected Small and Medium Scale Enterprise in Owerri
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318
318
2015-08-31
2015-08-31
10.11648/j.jim.20150406.14
http://www.sciencepublishinggroup.com/journal/paperinfo.aspx?journalid=179&doi=10.11648/j.jim.20150406.14
© Science Publishing Group
Quality, Environment and Health Integrated Management Systems: A Literature Review
http://www.sciencepublishinggroup.com/journal/paperinfo.aspx?journalid=179&doi=10.11648/j.jim.20150406.18
The context of the research made in this article is the harsh economic environment where in order to stay on the market organizations need to reduce production cost to make more profit but also to meet the quality, environment, and health and safety requirements. The implementation of the standards in the organization involve an allocation of resources both human and financial and all this are time consuming, the necessity of implementing two or more standards make this allocation of resources to increase, in this conditions applying an integrated standards model is shown to be a more effective way then applying the standards independently. The problem that arises is that in order to adopt the integrated version of standards there have to be made some changes at the organizational level. This article analyzes the principal models of integration management systems found in the literature, highlights the benefits of the three standards. This article can be also used as a base for future studies regarding the integrated management systems and future implementation of other management systems like the management system of innovation.
The context of the research made in this article is the harsh economic environment where in order to stay on the market organizations need to reduce production cost to make more profit but also to meet the quality, environment, and health and safety requirements. The implementation of the standards in the organization involve an allocation of resources both human and financial and all this are time consuming, the necessity of implementing two or more standards make this allocation of resources to increase, in this conditions applying an integrated standards model is shown to be a more effective way then applying the standards independently. The problem that arises is that in order to adopt the integrated version of standards there have to be made some changes at the organizational level. This article analyzes the principal models of integration management systems found in the literature, highlights the benefits of the three standards. This article can be also used as a base for future studies regarding the integrated management systems and future implementation of other management systems like the management system of innovation.
Quality, Environment and Health Integrated Management Systems: A Literature Review
doi:10.11648/j.jim.20150406.18
Journal of Investment and Management
2015-09-03
© Science Publishing Group
Adela Mariana Vadastreanu
Adrian Bot
Dorin Maier
Andreea Maier
Quality, Environment and Health Integrated Management Systems: A Literature Review
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356
356
2015-09-03
2015-09-03
10.11648/j.jim.20150406.18
http://www.sciencepublishinggroup.com/journal/paperinfo.aspx?journalid=179&doi=10.11648/j.jim.20150406.18
© Science Publishing Group
Innovation, the New Challenge of Today’s Entrepreneurship
http://www.sciencepublishinggroup.com/journal/paperinfo.aspx?journalid=179&doi=10.11648/j.jim.20150406.19
The aim of this article is to evaluate the importance of innovation for entrepreneurship environment in the context of current economic conditions. Throughout the last century, industry leaders learnt to master the production process to such an extent that now it no longer functions as a significant competitive advantage. Every entrepreneur is now facing a harsh and highly competitive business context in a globalized economy, and in order to resist and to be successful the new challenge is to master the innovation process, harnessing change, creating new competitive advantages by offering better products, using better processes, delivering better services or even offering entirely new solutions. Although the process of innovation is one of the most important drivers of growth and prosperity in today's global economy, it is also one of the least understood. This paper wants to bring a contribution to a better understanding of the innovation process and to identify some characteristics of the future entrepreneur. At the end of the paper are presented some recommendations that a company should be aware of in order to be more innovative and also we have identified some characteristics that an entrepreneur must have in order to be successful. This article can be also used as a base for future studies regarding the process of innovation, the management of the innovation process, the establishing of a management system of innovation and its implementation into existing management systems.
The aim of this article is to evaluate the importance of innovation for entrepreneurship environment in the context of current economic conditions. Throughout the last century, industry leaders learnt to master the production process to such an extent that now it no longer functions as a significant competitive advantage. Every entrepreneur is now facing a harsh and highly competitive business context in a globalized economy, and in order to resist and to be successful the new challenge is to master the innovation process, harnessing change, creating new competitive advantages by offering better products, using better processes, delivering better services or even offering entirely new solutions. Although the process of innovation is one of the most important drivers of growth and prosperity in today's global economy, it is also one of the least understood. This paper wants to bring a contribution to a better understanding of the innovation process and to identify some characteristics of the future entrepreneur. At the end of the paper are presented some recommendations that a company should be aware of in order to be more innovative and also we have identified some characteristics that an entrepreneur must have in order to be successful. This article can be also used as a base for future studies regarding the process of innovation, the management of the innovation process, the establishing of a management system of innovation and its implementation into existing management systems.
Innovation, the New Challenge of Today’s Entrepreneurship
doi:10.11648/j.jim.20150406.19
Journal of Investment and Management
2015-09-03
© Science Publishing Group
Adela Mariana Vadastreanu
Adrian Bot
Dorin Maier
Andreea Maier
Innovation, the New Challenge of Today’s Entrepreneurship
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6
362
362
2015-09-03
2015-09-03
10.11648/j.jim.20150406.19
http://www.sciencepublishinggroup.com/journal/paperinfo.aspx?journalid=179&doi=10.11648/j.jim.20150406.19
© Science Publishing Group
Management Versus Science: Peer-Reviewers do not Know the Subject They Have to Analyse
http://www.sciencepublishinggroup.com/journal/paperinfo.aspx?journalid=179&doi=10.11648/j.jim.20150406.15
The purpose of this paper is to show the ideas to overcome the deep ignorance on Reliability Theory of some authors and Referees (mainly professors). We analyzed some very few cases, taken from some published documents found on the web: Montgomery, Rade, M. A. El-Damcese [paper 41], M. A. El-Damcese, A. N. Salem, and N. S. Temraz [paper 42], and others (Wang, Pham, Xie, Peretto); two cases are from the Montgomery book, a very WWU (World Wide Used) Book; other cases are from books: we show that high scores on documents do not prove the Quality of those documents. This paper is especially written to settle the matter for the researchers who want to learn Reliability and Availability. Researchers must be alert in order to do a good job…. Many others cases should be shown: the paper should be 10 times longer The methods used are the Logic and the Scientific Theory (Mathematics, Probability, Statistics, Physics…). Several Professors do not practice them.
The purpose of this paper is to show the ideas to overcome the deep ignorance on Reliability Theory of some authors and Referees (mainly professors). We analyzed some very few cases, taken from some published documents found on the web: Montgomery, Rade, M. A. El-Damcese [paper 41], M. A. El-Damcese, A. N. Salem, and N. S. Temraz [paper 42], and others (Wang, Pham, Xie, Peretto); two cases are from the Montgomery book, a very WWU (World Wide Used) Book; other cases are from books: we show that high scores on documents do not prove the Quality of those documents. This paper is especially written to settle the matter for the researchers who want to learn Reliability and Availability. Researchers must be alert in order to do a good job…. Many others cases should be shown: the paper should be 10 times longer The methods used are the Logic and the Scientific Theory (Mathematics, Probability, Statistics, Physics…). Several Professors do not practice them.
Management Versus Science: Peer-Reviewers do not Know the Subject They Have to Analyse
doi:10.11648/j.jim.20150406.15
Journal of Investment and Management
2015-08-31
© Science Publishing Group
Fausto Galetto
Management Versus Science: Peer-Reviewers do not Know the Subject They Have to Analyse
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6
329
329
2015-08-31
2015-08-31
10.11648/j.jim.20150406.15
http://www.sciencepublishinggroup.com/journal/paperinfo.aspx?journalid=179&doi=10.11648/j.jim.20150406.15
© Science Publishing Group
Research on the Risk Factors of Power Coal Supply in China's Shanxi Province Based on ISM
http://www.sciencepublishinggroup.com/journal/paperinfo.aspx?journalid=179&doi=10.11648/j.jim.20150406.20
The stability of power coal supply is of great significance for coal base construction and the focus of thermal power enterprise investment in Shanxi province. This paper analyzes the risk factors of power coal supply chain, builds up the power coal supply risk identification model based on ISM and identifies the major power coal supply risks. It is found that the key power coal supply risks for Shanxi's thermal power enterprise are coal enterprises business risk, the coal price fluctuation, coal supply contract risk etc. And then put forward the risk prevention measures.
The stability of power coal supply is of great significance for coal base construction and the focus of thermal power enterprise investment in Shanxi province. This paper analyzes the risk factors of power coal supply chain, builds up the power coal supply risk identification model based on ISM and identifies the major power coal supply risks. It is found that the key power coal supply risks for Shanxi's thermal power enterprise are coal enterprises business risk, the coal price fluctuation, coal supply contract risk etc. And then put forward the risk prevention measures.
Research on the Risk Factors of Power Coal Supply in China's Shanxi Province Based on ISM
doi:10.11648/j.jim.20150406.20
Journal of Investment and Management
2015-09-14
© Science Publishing Group
Jun Dong
Huijuan Huo
Research on the Risk Factors of Power Coal Supply in China's Shanxi Province Based on ISM
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368
368
2015-09-14
2015-09-14
10.11648/j.jim.20150406.20
http://www.sciencepublishinggroup.com/journal/paperinfo.aspx?journalid=179&doi=10.11648/j.jim.20150406.20
© Science Publishing Group