World Academy of Science, Engineering and Technology

Authors: Shu-Hui Chuang, Shao-Chun Chiu, Shu-Hsin Chuang

Abstract:

While the marketing management literature is regarding the direct benefits of market orientation (MO) on firm value, the impact of such MO-based value co-creation remains largely an unexplored area of research. Thus, the primary objective of this study is to provide some new perspectives in examining how MO can enhance value co-creation for customers and sellers. In particular, drawing from the relational view of the firm and IT literature, we propose that the chain of MO-based co-creation of value and how adopt e-marketing systems between partners can facilitate this chain. Using data on use of the e-marketing system, we empirically validate that the sellers’ integrated MO is critical in increasing the e-marketing adoption, which in turn helps to creation co-creation value for both parties.

Keywords: market orientation, value co-creation, e-marketing system, relational view of the firm

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Authors: Muhammad Naveed Iftikhar, Farah Khalid

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Global best practices as ordained by international organizations comprise a broader top-down approach to development problems, without taking into account country-specific factors. The political economy of each country is extremely different and the failure of several attempts of international organizations to implement global best practice models in developing countries each with its unique set of variables, goes on to show that this is not the most efficient solution to development problems. This paper is a humble attempt at shedding light on some specific examples of failures of the global best practices. Pakistan has its unique set of problems and unless those are added to the broader equation of development, country-specific reform and growth will continue to pose a challenge to reform programs initiated by international organizations. The three case studies presented in this paper are just a few prominent examples of failure of the global best practice, top-down, universalistic approach to development as ordained by international organizations. Development and reform can only be achieved if local dynamics are given their due importance. The modus operandi of international organizations needs to be tailored according to each country’s unique politico-economic environment.

Keywords: best practice, development, context

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Authors: Pedram Behyar, Zahra Bayat

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The internet and web are changing ways of “far reaching scope and potential for transformation of the marketing functions”. The web is developing in a faster rate than any previous new communication medium. The website of destination has become a crucial branding channel, that is why all businesses are changing their way to communicate with their customers to encounter their needs and wants in better ways. Website provides numerous opportunities for businesses to strengthen their relationship with their customers. One of these opportunities is website component that enables internet users to make two-way communication with the businesses.

Keywords: marketing communication, brand image, usability, privacy and security, personalization and customization, responsiveness, customer online web experience

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Authors: Keith Dominic T. Li

Abstract:

The soaring prices of residential properties in Hong Kong has become a social problem that even the middle class is having dif?iculties in purchasing homes. In making policies to curb the prices, it is important to determine the factors that contribute to the property in?lation. Many researches attribute this in?lation to macroeconomic factors especially the interest rate. However, it is important to remember that Hong Kong is under a Currency Board system which makes its interest rate exogenously determined. This research aims to show the signi?icance of the money supply on Hong Kong residential property prices in post-1997 Asian Financial Crisis period. Using money supply data, macroeconomic fundamentals, and demographic variables from 2000Q1 to 2013Q2, the factors contributed to residential property price in?lation are estimated to calculate the share of each explanatory variable in disparity. It is found that the Hong Kong property market is mainly driven by investment and that the in?lation on Hong Kong residential property prices can explained by the increase in the Hang Seng Index and in the money supply M2.

Keywords: real estate, Hong Kong, property market, monetary economics, monetary policy

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Authors: Daphne Ashley Sze, Kenneth Santos, Ariane Gabrielle Lim

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As women are now given more freedom and choice to pursue employment, the world’s over-all fertility has been decreasing mainly due to the shift in time allocation between working and child rearing. As such, we study the case of the Philippines, where there exists a decreasing fertility rate and increasing openness for women labor participation. We focused on the distinction between fertility and fecundity, the former being the manifestation of the latter and aim to trace and compare the effects of both fecundity and fertility to women’s employment status through the estimation of the reproduction function and multinomial logistic function. Findings suggest that the perception of women regarding employment opportunities in the Philippines links the negative relationship observed between fertility, fecundity and women’s employment status. Today, there has been a convergence in the traditional family roles of men and women, as both genders now have identical employment opportunities that continue to shape their preferences.

Keywords: multinomial logistic function, tobit, fertility, women employment status, fecundity

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Authors: Andreea Halunga, Chris D. Orme, Takashi Yamagata

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This paper proposes a heteroskedasticity-robust Breusch-Pagan test of the null hypothesis of zero cross-section (or contemporaneous) correlation in linear panel-data models, without necessarily assuming independence of the cross-sections. The procedure allows for either fixed, strictly exogenous and/or lagged dependent regressor variables, as well as quite general forms of both non-normality and heteroskedasticity in the error distribution. The asymptotic validity of the test procedure is predicated on the number of time series observations, T, being large relative to the number of cross-section units, N, in that: (i) either N is fixed as T→∞; or, (ii) N²/T→0, as both T and N diverge, jointly, to infinity. Given this, it is not expected that asymptotic theory would provide an adequate guide to finite sample performance when T/N is "small". Because of this, we also propose and establish asymptotic validity of, a number of wild bootstrap schemes designed to provide improved inference when T/N is small. Across a variety of experimental designs, a Monte Carlo study suggests that the predictions from asymptotic theory do, in fact, provide a good guide to the finite sample behaviour of the test when T is large relative to N. However, when T and N are of similar orders of magnitude, discrepancies between the nominal and empirical significance levels occur as predicted by the first-order asymptotic analysis. On the other hand, for all the experimental designs, the proposed wild bootstrap approximations do improve agreement between nominal and empirical significance levels, when T/N is small, with a recursive-design wild bootstrap scheme performing best, in general, and providing quite close agreement between the nominal and empirical significance levels of the test even when T and N are of similar size. Moreover, in comparison with the wild bootstrap "version" of the original Breusch-Pagan test our experiments indicate that the corresponding version of the heteroskedasticity-robust Breusch-Pagan test appears reliable. As an illustration, the proposed tests are applied to a dynamic growth model for a panel of 20 OECD countries.

Keywords: cross-section correlation, time-series heteroskedasticity, dynamic panel data, heteroskedasticity robust Breusch-Pagan test

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Authors: Ebrahim Mansoori, Datin Joriah Muhammad

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Recent studies in finance have focused on the effect of external variables on working capital management. This study investigates the effect of corruption indexes on firms' working capital management. A large data set that covers data from 2005 to 2013 from five ASEAN countries, namely, Malaysia, Indonesia, Singapore, Thailand, and the Philippines, was selected to investigate how the level of corruption in these countries affect working capital management. The results of panel data analysis include fixed effect estimations showed that a high level of countries' corruption indexes encourages managers to shorten the CCC length. Meanwhile, the managers reduce the level of investment in cash and cash equivalents when the levels of corruption indexes increase. Therefore, increasing the level of countries' corruption indexes encourages managers to select conservative working capital strategies by reducing the level of NLB.

Keywords: ASEAN, corruption indexes, panel data analysis, working capital management

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Authors: Alshehri Sultan

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Organizational change has remained an important subject for many researchers in the field of organizations theory. We propose the importance of organizational liability of renewal through a model that examines how an organization can overcome potential rigidities in organizational capabilities from learning by changing capabilities. We examine whether an established organization can overcome liability of renewal by changes in organizational capabilities and how the organizational renewal process reflect on the balance between the dynamic aspect of organizational learning as demonstrated by changes in capabilities and the stabilizing aspects of organizational inertia. We found both positive relationship between organizational learning and performance, and between legitimacy and performance. Performance and legitimacy have, however, a negative relationship on the pressure for change.

Keywords: organizational capabilities, organizational liability, liability of renewal, pressure for change

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Authors: Mrigakshi Das

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The ethics of a business is currently a high profile issue owing to sensational corporate scandals that had taken place in many countries causing extensive damages to the economy and society. These corporate scandals question the morality of businessmen in general and accountants in particular. It is argued that the accountants have been the main contributors to the decline in ethical standards of a business. This researcher has reviewed the need and impact of ethics education in accounting profession. Despite of ethical interventions, the rate of accounting scandals are increasing and have left the public questioning that has the profession become really less ethical?

Keywords: accounting, ethics education and intervention in accounting, accounting education, accounting profession, moral reasoning and development, ethics education

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Authors: Amira Khelil, Habib Affes

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Organization resource planning implementation success is important. Today`s competitors in business, in enterprise resource planning and in managing are becoming one of the main tools of achieving competitiveness in business. Resource technologies are considered as an infrastructure to create and maintain business to improve front and back-office efficiency and effectiveness. This study is significant to bring new ideas in determining the key antecedents which are technological resource planning implementation based on knowledge capacity perspectives and help to understand the key success factor in the Tunisian banks. Based on a survey of 150 front office Tunisian agents working in Tunisian banks with mixed capital, using Groupware system, only 51 respondents had given feedback to this survey. By using Warp PLS 3.0, through several tests the relationship between knowledge capability and Groupware implementation success having beta coefficient 0.37 and P-Value <0.01. This result highlights that knowledge capability of bank agent can influence the success of the Groupware implementation.

Keywords: groupware implementation, knowledge capacity, partial least squares method, Tunisian banks

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Authors: Débora Ramos Santiago

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Endogenous development usually apresent a deep approach to locational aspects, considering the potential, knowledge and the workforce, as encouragement to articulate the entire productive activity of a community. In the case of communities located around the area of management of the company Precious Wood Amazon (PWA), their endogenous development is subject to the dynamic of this company, which operates a certified way, seeking alternatives to mitigate and compensate the damages caused by its activities. This article soughts to present the socio-economic and environmental challenges to promote of the endogenous development of these communities, identifying the relationship of the PWA in this process. The communities analyzed emerge with poor socioeconomic conditions, futhermore, their ecosystem characteristics differ spatially from each other, which modifies the entire production dynamics. The family agriculture was an important source of income, but needs investment and technical assistance. The participation of PWA in the promotion of the endogenous development of the communities was proved significant, because of the intense sustainable actions practice by PWA. Many are the challenges that exist in these communities, so its fundamental to elaborate public policies to these specific areas.

Keywords: endogenous development, traditional communities, Amazon, PWA

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Authors: Y. Rathiranee, D. M. Semasinghe

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This study attempts to identify the factors influencing on women empowerment of rural area in Sri Lanka through micro finance services. Data were collected from one hundred (100) rural women involving self employment activities through a questionnaire using direct personal interviews. Judgment and Convenience Random sampling technique was used to select the sample size from three Divisional Secretariat divisions of Kandawalai, Poonakari and Karachchi in Kilinochchi District. The factor analysis was performed on fourteen (14) variables for screening and reducing the variables to identify the influencing factors on empowerment. Multiple regression analysis was used to identify the relationship between the three empowerment factors and the impact of micro-finance on overall empowerment of rural women. The result of this study summarized the variables into three factors namely decision making, freedom to mobility and family support and which are positively associated with empowerment. In addition to this the value of adjusted R2 is 0.248 indicates that all the variables extracted can be explained 24.8% of the variation in the women empowerment through microfinance. Independent variables of these three factors have a positive correlation with women empowerment as well as significant values at 5 percent level.

Keywords: influencing factors, micro finance, rural women, women empowerment

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Authors: Kirsten Hoeper, Maike Kriependorf

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This paper firstly discusses the initial situation and problems. Afterward, it defines professional bureaucracies and shows their impact for the OR-work. The OR-center and its actors are shown. Finally, the paper provides the empiric design for detecting the target systems of the different work groups within the OR, the quality criteria in qualitative research and empirical results. It is shown that different groups have different targets in their daily work and that helps for a better understanding. More precisely, by detecting the target systems of these experts, we can ‘bridge’ the different points of view to create a common basis for the work in the OR. One of the aims was to find bridges to overcome separating factors. This paper describes the situation in Germany focusing the Hannover Medical School. It can be assumed that the results can be transferred to other countries using the DRG-System (Diagnosis Related Groups).

Keywords: hospital, OR, professional bureaucracies, target systems

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Authors: Shruti Hajirnis

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In May 2014, FASB issued Accounting Standards Update (ASU) 2014-09, Revenue from Contracts with Customers (Topic 606), and the International Accounting Standards Board (IASB) issued International Financial Reporting Standards (IFRS) 15, Revenue from Contracts with Customers that will supersede virtually all revenue recognition requirements in IFRS and US GAAP. FASB and the IASB have basically achieved convergence with these standards, with only some minor differences such as collectability threshold, interim disclosure requirements, early application and effective date, impairment loss reversal and nonpublic entity requirements. This paper discusses the impact of five-step model prescribed in new revenue standard on the entities operating in Pharma industry. It also outlines the considerations for these entities while implementing the new standard.

Keywords: revenue recognition, pharma industry, standard, requirements

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Authors: Saud Al Taj

Abstract:

Employer branding is considered as a useful tool for addressing the global-local problem facing complex organisations that have operations scattered across the globe and face challenges of dealing with the local environment alongside. Despite being an established field of study within the Western developed world, there is little empirical evidence concerning the relevance of employer branding to global companies that operate in the under-developed economies. This paper fills this gap by gaining rich insight into the implementation of employer branding programs in a foreign multinational operating in Pakistan dealing with the global-local problem. The study is qualitative in nature and employs semi-structured and focus group interviews with senior/middle managers and local frontline employees to deeply examine the phenomenon in case organisation. Findings suggest that authenticity is required in employer brands to enable them to respond to the local needs thereby leading to the resolution of the global-local problem. However, the role of signaling theory is key to the development of authentic employer brands as it stresses on the need to establish an efficient and effective signaling environment wherein signals travel in both directions (from signal designers to receivers and backwards) and facilitate firms with the global-local problem. The paper also identifies future avenues of research for the employer branding field.

Keywords: authenticity, counter-signals, employer branding, global-local problem, signaling theory

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Authors: Carmen Maria Hernandez-Nicolas, Juan Francisco Martín-Ugedo, Antonio Mínguez-Vera

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This paper analyses the influence of gender of the mayors of Spanish local governments on different budget items using a sample of 8,243 town councils between 2002 and 2010 period and 64,361 observations. The system Generalized Method of Moments (GMM) technique was employed to examine this panel data. This powerful methodology allows controlling for the endogenity of the variables and the heterogeneity of the sample. Unlike previous works focused on the study of gender influence on firm decisions, the present work analyzes the influence of the gender of the major in the council’s decisions. Specifically, we examine the differences in financial liabilities, security, protection and social promotion expenses and income items relating to public management. In addition, the study focuses on the Spanish context, which is characterized by the presence of decentralization of public responsibility to a greater extent than in neighboring countries, feeding the debate on the operational efficiency of local government increased with an open debate on the importance of gender in public management. The results show that female mayors tend to have lower expenses in general without significant differences in incomes obtained for men and women majors. We also find that female majors incur fewer financial liabilities, one of the most important problems in the Spanish public sector. However, despite of cutting in the public sector, these councils have higher expenditure on security, protection and social promotion. According to these evidences, the presence of women in politics may serve to improve the councils’ economic situation and it is not only necessary for social justice but for economics efficiency. Besides, in councils with more inhabitants, women mayors are more common, but women who served for a very long time are less common.

Keywords: councils, gender, local budgets, public management, women mayors

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Authors: David Abad, M. Encarnación Lucas-Pérez, Antonio Minguez-Vera, José Yagüe

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We examine explicitly the relation between the gender diversity on corporate boards and the levels of information asymmetry in the stock market. Based on prior evidence that suggests that the presence of women on director boards increases the quantity and quality of public disclosure by firms, we expect firms with higher gender diversity on their boards to show lower levels of information asymmetry in the market. Using a Spanish sample for the period 2004-2009, proxies for information asymmetry estimated from high-frequency data, and a system GMM methodology, we find that the gender diversity on boards is negative associated with the level of information asymmetry in the stock market. Our findings support legislative changes implemented to increase the presence of women on boards in several European countries by providing evidence that gender diverse boards have beneficial effects on stock markets.

Keywords: corporate board, female directors, gender diversity, information asymmetry, market microstructure

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Authors: Walid Chkili

Abstract:

This paper investigates the dynamic relationship between gold and stock markets using data for BRICS counties. For this purpose, we estimate three multivariate GARCH models (namely CCC, DCC and BEKK) for weekly stock and gold data. Our main objective is to examine time variations in conditional correlations between the two assets and to check the effectiveness use of gold as a hedge for equity markets. Empirical results reveal that dynamic conditional correlations switch between positive and negative values over the period under study. This correlation is negative during the major financial crises suggesting that gold can act as a safe haven during the major stress period of stock markets. We also evaluate the implications for portfolio diversification and hedging effectiveness for the pair gold/stock. Our findings suggest that adding gold in the stock portfolio enhance its risk-adjusted return.

Keywords: gold, financial markets, hedge, multivariate GARCH

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Authors: Lisa Listiana

Abstract:

ASEAN leader agreed to accelerate ASEAN Economic Community (AEC) implementation by 2015. The AEC Blueprint has set up obligations for its members to follow which include the establishment of (a) free trade in goods, according to ASEAN Free Trade Area: AFTA, (b) free trade in services, according to ASEAN Framework Agreement on Services: AFAS, (c) free trade in investment, according to ASEAN Comprehensive Investment Agreement: ACIA, (d) free capital flow, and (e) free flow of skilled labors. Consequently, these obligations bring both challenges and opportunities for its members. As accountant is included in the coverage of 8 skilled labors, the readiness of accounting profession to embrace AEC 2015 is pivotal. If Indonesian accountants do not accelerate their learning effort, the knowledge gap between Indonesian accountants and their international colleagues will only be worsened. This paper aims to analyze the current progress of AEC preparation and its challenges and opportunities for Indonesian accountants, and also to propose recommendation as necessary.

Keywords: AEC, ASEAN, readiness, Indonesian accountants

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Authors: Muhammad Mustafizur Rahaman

Abstract:

Social business is a new concept in the field of Business Economics and Capitalist Economy. It has increased the importance in economic and social development in emerging economies. Professor Muhammad Yunus is the founding father of the notion. While conventional business underscores profit maximization as a core business principle, social business calls for addressing social problems at the expense of profit. This underlying principle gives social business advantageous position over conventional businesses to serve those who live at the bottom of the pyramid. It also poses grave challenges to the social business because social business sacrifices profit at one hand and seeks financial sustainability on the other. For the sake of its financial sustainability, the social business might increase the price of its product or service which might lower its social impact, thus, makes the business self-defeating. Therefore, social business should be more innovative in every business process including production, marketing, and management. Otherwise, the business is unlikely to be driven out from the society.

Keywords: innovativeness, self-defeat, social business, social problem

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Authors: Zahra Karimi

Abstract:

The purpose of this paper is to investigate the role and importance of accounting for the implementation of the VAT system in the country. For this purpose, after the evaluation of specifications and important advantages of the VAT and the experience of other countries, important role of accounting in the precise determination of taxes, strategies to prevent escape of tax and realization of tax revenues of government, necessary control to increase the efficiency and accuracy of the calculations discussed. High-dependence of government to borrowing from the banking system and inflation tax and a low general ratio of tax revenues to GDP, indicating the inadequacy of the country's tax system. It can be said that being of a proper accounting system consider as a prerequisite for successful implementation of VAT in the country. So it's crucial for accountants with responsibility announce its full fitness to meet the requirements. For successful implementation of VAT as such a multi-stage sales tax and the tax on the price.

Keywords: accounting, tax reform in Iran, Value Added Tax (VAT), economic

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Authors: Zahra Karimi

Abstract:

Money is not the only medium of economic exchanges, but also affects the national identity of citizens and national sovereignty of the government. Hence, money can be used as a tool to strengthen the national and political identity of nations. In other words, the value of the national currency can be affecting citizen’s view to the economic situation of their country and national identity. Government with the maintenance of the value of the national currency must increase the confidence of its citizens into national currency and prevents that "currency substitution phenomenon" occurred and people turn to foreign currencies. Hence, this article intends to explain the zeros elimination from the national currency and study of experience of other countries and discussion history analyzed benefits and harms of zeroes elimination from the national currency, And then to evaluate the effect or lack of effect of removing of zeros from the national currency on inflation answer the question whether it is appropriate and on time to delete three zeros from the Riyal of Iran is or not?

Keywords: zeros elimination from the national currency, value of the national currency, Riyal, inflation, Iran, money, government

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Authors: Zuzana Crhová, Karel Kolman, Drahomíra Pavelková

Abstract:

Knowledge is considered as an important asset which can help organizations to create competitive advantage. The necessity of taking care of these assets is more important in these days – in days of turbulent changes in business environment. Knowledge could facilitate adaption to constant changes. The aim of this paper is to describe how the knowledge sharing can be supported in the manufacturing companies. The methods of case studies and grounded theory were used to present information gained by carrying out semi-structured interviews. Results show that knowledge sharing is supported in very similar ways in respondent companies.

Keywords: case study, human resource management, knowledge, knowledge sharing

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Authors: Nouha Ben Salah, Mohamed Ali Omri

Abstract:

This paper treats the association between disclosure level and the cost of equity capital in Tunisian’slisted firms. This relation is tested by using two models. The first is used for testing this relation directly by regressing firm specific estimates of cost of equity capital on market beta, firm size and a measure of disclosure level. The second model is used for testing this relation by introducing information asymmetry as mediator variable. This model is suggested by Baron and Kenny (1986) to demonstrate the role of mediator variable in general. Based on a sample of 21 non-financial Tunisian’s listed firms over a period from 2000 to 2004, the results prove that greater disclosure is associated with a lower cost of equity capital. However, the results of indirect relationship indicate a significant positive association between the level of voluntary disclosure and information asymmetry and a significant negative association between information asymmetry and cost of equity capital in contradiction with our previsions. Perhaps this result is due to the biases of measure of information asymmetry.

Keywords: cost of equity capital, voluntary disclosure, information asymmetry, and Tunisian’s listed non-financial firms

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Authors: Idris Adamu Alhaji, Wan Fauziahbt Wan Yusoff

Abstract:

This study was conducted to identify the relationship between Corporate Governance attributes and Firm Performance, various studies, had been carried out mostly in developed countries, in order to identify the relationship between corporate governance attributes and firm performance. Since, the value creation of corporate governance can be measured through the firm performance, corporate governance act as a mechanism to align management's goals with the stakeholders especially to increase firm performance. Despite extensive study of corporate governance there is still an inconsistence relationship between corporate governance attributes and firm performance. Therefore, the aim of this paper is to identify the relationship between corporate governance attributes and firm performance. Five corporate governance element were used as independent variables which include: Independent director, board size, audit committee, leadership structure and board meeting. Meanwhile, the dependent variables are two firm performance measurements; return on equity (ROE) and earning per share (EPS). This study uses quantitative approaches whereby data were gathered from secondary source data were collected from Annual Reports of the companies, online journals etc. This study revealed that, there is a significant relationship between corporate governance attributes and firm performance. Therefore, the results show that good corporate governance practice influence firm performance. Finally, it's hoped that this study provides current corporate governance scenario in Malaysia that can be used to enhance the development of corporate governance of the country.

Keywords: corporate governance, return on equity, earning per share, financial performance

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Authors: Abubakar Mohammed Bakoji

Abstract:

The paper examine business ethics through it pursuit for corporate social responsibility to the society in which the business long existed, Zenith bank PLC was selected as case study for it longer period of its business in the state, in order to achieve the research objective of the paper which sought the following: i. To examine relationship between business ethics and corporate social responsibility in Zenith bank PLC Jalingo; ii. To establish whether or not such ethics statement that acclaim corporate social responsibility are adhere to by the Zenith bank PLC Jalingo; iii. To determine the benefit drive by the society on the corporate social responsibility of Zenith bank PLC Jalingo to the people of the state of their operation. The research was conducted using qualitative research design approach, where convenience sampling technique was adopted using semi structured interview to one of the key staff of Zenith bank PLC Jalingo and five other beneficiaries of Zenith bank PLC corporate social responsibility projects served as respondents. The data obtained was analyze using content analysis and the result of the findings revealed that Zenith bank PLC has a Good business ethics and they adhere to the ethics, that they have completed several viable projects to the state as their corporate social responsibility and the beneficiaries and the respondents beneficiaries has confirmed and have produced evidence of how the projects has assisted in stifle their hardship. Hence, business ethics has a significant relationship with corporate social responsibility in Zenith bank PLC Jalingo.

Keywords: business ethics, Corporate Social Responsibility, Zenith Bank PLC, business ethics

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Authors: Jerome Nyameh

Abstract:

The most valuable asset in the existence of organization is the employees and their ability in maintain appreciable level of performance which support the goal of the organization and the ability to do that depend largely on the organizational culture and culture has been considered most currently as the factor that relate positively to organizational excellence and sustainable employee’s performance over the period of time An employee engagement program will not go far without first establishing the organizational culture that is required to support sustainability. This means integrating sustainability into the overall employee’s performance, with clear vision, goals and metrics. It means having strong culture and a collaborative governance structure that has been develop as a ways of doing things in the organization for decision making and resource allocation. It requires a rewards and recognition program to support and reinforce sustainability behaviors. With such a culture in place, organization will be able to develop a strategy that fully engages employees, while fully realizing the benefits of their contributions. The study investigated empirically the role of organizational culture building sustainable employee’s performance using Zenith bank PLC a model where organizational culture will build sustainable employees performance strategy for a lasting actualization of organizational was developed. In order to achieve the research objectives of (i) to assess how organizational culture can build sustainable employee’s performance (ii) to analyze the gap that exists between organizational culture and sustainable employee’s performance in the organization, a survey questionnaires of 20 items was administered to sixty respondents. The findings of this study have practical implications for organizational leaders, managers and employees, and their organizations, particularly commercial banks in Nigeria, besides offering scope for further research in the area of organizational culture and sustainable employee’s performance. It will also show a significance and positive relationship that exist between organizational culture and sustainable employee’s performance, as means of building viable organization with cultural uniqueness and excellence performance in the world of competition.

Keywords: organizational culture, sustainable employee’s performance, organizations, Zenith Bank PLC Nigeria

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Authors: Alireza Naserpoor

Abstract:

Derivatives are the most important innovation which has happened in the past decades. When it comes to financial markets, it has changed the whole way of operations of stock, commodities and currency market. Beside a lot of advantages, Conventional derivatives contracts have some disadvantages too. Some problems have been caused by derivatives contain raising Volatility, increasing Bankruptcies and causing financial crises. Standard Parallel Salam contract as an Islamic financial product meanwhile is a financing instrument can be used for risk management by investors. Standard Parallel Salam is a Shari’ah-Compliant contract. Furthermore, it is an alternative to conventional derivatives. Despite the fact that the unstructured types of that, has been used in several Islamic countries, This contract as a structured and standard financial instrument introduced in Iran Mercantile Exchange in 2014. In this paper after introducing parallel Salam, we intend to examine a collection of international experience and local measure regarding launching standard parallel Salam contract and proceed to describe standard scenarios for trading this instrument and practical experience in Iran Mercantile Exchange about this instrument. Afterwards, we make a comparison between SPS and Futures contracts as a conventional derivative. Standard parallel salam contract as an Islamic financial product, can be used for risk management by investors. SPS is a Shariah-Compliant contract. Furthermore it is an alternative to conventional derivatives. This contract as a structured and standard financial instrument introduced in Iran Mercantile Exchange in 2014. despite the fact that the unstructured types of that, has been used in several Islamic countries. In this article after introducing parallel salam, we intend to examine a collection of international experience and local measure regarding launching standard parallel salam contract and proceed to describe standard scenarios for trading this instrument containing two main approaches in SPS using, And practical experience in IME about this instrument Afterwards, a comparison between SPS and Futures contracts as a conventional derivatives.

Keywords: futures contracts, hedging, shari’ah compliant instruments, standard parallel salam

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Authors: Mansur Ahmed Kazaure

Abstract:

The emergence of internet-based social media has made it possible for one person to communication with hundreds or even thousands of people about a company goods and services and the companies that provides them. Thus, the impact of customer-to-customer communications has been significantly magnified in the marketplace. Therefore, the essence of this paper is to critically evaluate the literature of social media and their implication for practice, but the author pay attention on twitter as a new marketing communication tools. The author found out that, despite the implication of using social media especially twitter by the companies as part of their marketing communication tool, but still it can enhance the opportunity for the companies to develop and maintain long-term customer relationship. The paper concludes that, using twitter as a marketing communication tool is a market trend and it is the best way for marketers to add value to their customer, however with the Twitter marketers can get a feedback about the performance of their product and its brand in the marketplace. The paper is purely a conceptual discourse based on secondary data.

Keywords: social media, marketing communication, marketing communication tools, Twitter, Facebook

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Authors: Rabih Nehme, Abdullah Al Mutawa

Abstract:

The general goal behind this research is to gain a better understanding of factors leading to dysfunctional behavior of auditors. Recent accounting scandals -Enron, Waste Management Inc., WorldCom, Xerox Corporation, etc. -provided an ample proof of how the role of auditors has become the basis of controversial debates in many circles and instances in our modern time. The majority of lawsuits and accounting scandals seem to have a central topic in focus, namely the question ''Where were the auditors? The survey we offer up for research is made up of 34 questions that are designed to analyse the perception of auditors and the cause of dysfunctional behavior. The object of this research is comprised of auditors positioned and employed at the Big Four audit firms in Kuwait. Dysfunctional behavior (DB) is measured against two signal proxies of dysfunctional behavior; premature sign-off and under reporting of chargeable time. DB is analysed against time budget pressure and time deadline pressure. The research results' suggest that the general belief among auditors is that the profession of accountancy predetermines their tendency to commit certain patterns of dysfunctional behavior. Having our investigation conducted at the Big Four audit firms, we have come to the conclusion that there is a general difference in behavior patterns among perceptions of dysfunctional behavior and normal skeptic professional behavior.

Keywords: big four, dysfunctional behavior, time budget, time deadline

Procedia PDF Downloads 448