Search results for: collective action and social capital

Authors: Agnieszka P. Regiec

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Capital companies are based on monetary capital. In the traditional model, the capital is the sum of the nominal values of all shares issued. For a few years within the European countries, the limited liability companies’ (LLC) regulations are leaning towards liberalization of the capital structure in order to provide higher degree of autonomy regarding the intra-corporate governance. Reforms were based primarily on the legal system of the USA. In the USA, the tradition of no-par shares is well-established. Thus, as a point of reference, the American legal system is being chosen. Regulations of Germany, Great Britain, France, Netherlands, Finland, Poland and the USA will be taken into consideration. The analysis of the share capital is important for the development of science not only because the capital structure of the corporation has significant impact on the shareholders’ rights, but also it reflects on relationships between creditors of the company and the company itself. Multi-level comparative approach towards the problem will allow to present a wide range of the possible outcomes stemming from the novelization. The dogmatic method was applied. The analysis was based on the statutes, secondary sources and judicial awards. Both the substantive and the procedural aspects of the capital structure were considered. In Germany, as a result of the regulatory competition, typical for the EU, the structure of LLCs was reshaped. New LLC – Unternehmergesellschaft, which does not require a minimum share capital, was introduced. The minimum share capital for Gesellschaft mit beschrankter Haftung was lowered from 25 000 to 10 000 euro. In France the capital structure of corporations was also altered. In 2003, the minimum share capital of société à responsabilité limitée (S.A.R.L.) was repealed. In 2009, the minimum share capital of société par actions simplifiée – in the “simple” version of S.A.R.L. was also changed – there is no minimum share capital required by a statute. The company has to, however, indicate a share capital without the legislator imposing the minimum value of said capital. In Netherlands the reform of the Besloten Vennootschap met beperkte aansprakelijkheid (B.V.) was planned with the following change: repeal of the minimum share capital as the answer to the need for higher degree of autonomy for shareholders. It, however, preserved shares with nominal value. In Finland the novelization of yksityinen osakeyhtiö took place in 2006 and as a result the no-par shares were introduced. Despite the fact that the statute allows shares without face value, it still requires the minimum share capital in the amount of 2 500 euro. In Poland the proposal for the restructuration of the capital structure of the LLC has been introduced. The proposal provides among others: devaluation of the capital to 1 PLN or complete liquidation of the minimum share capital, allowing the no-par shares to be issued. In conclusion: American solutions, in particular, balance sheet test and solvency test provide better protection for creditors; European no-par shares are not the same as American and the existence of share capital in Poland is crucial.

Keywords: balance sheet test, limited liability company, nominal value of shares, no-par shares, share capital, solvency test

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Authors: Yolanda Ramírez, Ángel Tejada, Agustín Baidez

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In the higher education setting, there is a current trend in society toward greater openness and transparency. The economic, social and political changes that have occurred in recent years in public sector universities (particularly the New Public Management, the Bologna Process and the emergence of the “third mission”) call for a wider disclosure of value created by universities to support fundraising activities, to ensure accountability in the use of public funds and the outcomes of research and teaching, as well as close relationships with industries and territories. The paper has two purposes: 1) to explore the intellectual capital (IC) disclosure in Spanish universities through their websites, and 2) to identify university profiles. This study applies a content analysis to analyze the institutional websites of Spanish public universities and a cluster analysis. The analysis reveals that Spanish universities’ website content usually relates to human capital, while structural and relational capitals are less widely disclosed. Our research identifies three behavioral profiles of Spanish universities with regard to the online disclosure of IC (universities more proactive, universities less proactive and universities adopt a middle position in this regard. The results can serve as encouragement to university managers to enhance online IC disclosure to meet the information needs of university stakeholders.

Keywords: universities, intellectual capital, disclosure, internet

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Authors: Prakash Singh, Thembinkosi Twalo

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The sustainability of the Buffalo City Metropolitan Municipality (BCMM), in South Africa, is being threatened by the reported cases of poor administration, weak management of resources, inappropriate job performance, and inappropriate job behaviour of some of the workers. Since the structural-functionalists assume that formal education is a solution to societal challenges, it therefore means that the BCMM should not be experiencing this threat since many of its workers have various levels of formal education. Consequently, this study using the mixed method research approach, set out to investigate the paradoxical co-existence of inappropriate job behaviour and performance with formal education at the BCMM. Considering the impact of human factors in the labour process, this study draws attention to the divergent objectives of skill and skill bearer, with the application of knowledge subject to the knowledge bearer’s motives, will, attitudes, ethics and values. Consequently, inappropriate job behaviour and performance practices could be due to numerous factors such as lack of the necessary capabilities or refusal to apply what has been learnt due to racial or other prejudices. The role of the human factor in the labour process is a serious omission in human capital theory, which regards schooling as the only factor contributing to the ability to do a job. For this reason this study’s theoretical framework is an amalgamation of the four theories - human capital, social capital, cultural capital, and reputation capital – in an effort to obtain a broader view of the factors that shape job behaviour and performance. Since it has been established that human nature plays a crucial role in how workers undertake their responsibilities, it is important that this be taken into consideration in the BCMM’s monitoring and evaluation of the workers’ job performance practices. Hence, this exploratory study brings to the fore, the effects of poor job performance practices on the job satisfaction of workers.

Keywords: human capital, poor job performance practices, service delivery, workers’ job satisfaction

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Authors: Sunico Armie Flores

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Early childhood education (ECE) is pivotal in shaping the future of individuals and society. This paper explores the collaborative efforts required among educators, families, and communities to create a collective impact on young children’s development. It delves into the importance of these partnerships, effective strategies for engagement, and the challenges and opportunities inherent in fostering such collaboration. By examining current research and practices, the paper aims to highlight the essential role of an integrated approach in achieving significant and sustainable improvements in early childhood outcomes.

Keywords: early childhood education, lifelong learning, cognitive development, socio-emotional development, educators, families, communities, collaborative efforts, collective impact, early learning environments, holistic development, high-quality ECE programs, investment in education

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Authors: Patrick Nüß

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I estimate management opposition against unions in terms of hiring discrimination by a large scale field experiment in the German labor market. The results show that callback rates for union members decrease significantly in the presence of high sectoral union density and large firm size. I further explore how this effect varies with regional and sectoral labor dispute intensity and find that management opposition is stronger when a sector is exposed to an intense labor dispute. There is evidence that the observed management opposition can be explained by sectoral union threat effects. Sectors with lower hiring discrimination have lower coverage of collective agreements, and in the absence of a collective agreement, they are less likely to follow the collective agreement wage setting.

Keywords: trade unions, Industrial relations, management opposition, union threat, labor disputes, field experiments

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Authors: Erdal Eroğlu, Özhan Çetinkaya

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The purpose of this paper is to show how state plays a regulatory role in the relations of distribution by analyzing tax and expenditure in Turkey. This paper has two main arguments. First, state intervenes in economic and social life via budget policies and steers the relations of distribution within the scope of the reproduction of the capital accumulation and legitimacy. Secondly, a great amount of public expenditure benefits capital owners while state gains its tax income mainly from low and middle income groups.

Keywords: distribution, public expenditure, state budget, taxes

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Authors: Siqi Fang, Jingxi Hou

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Positive psychology and coaching psychology share a number of fundamental assumptions and common themes. Blending positive psychology, mindfulness, and coaching psychology, our work in team coaching with leaders enhances both leadership and team effectiveness. Although individual coaching has proven to be effective, this article advocates the benefits of leadership coaching in team settings, because durable changes in leadership behaviors are more likely to occur. Does leadership team coaching really work? Does it help improve senior leadership team effectiveness and productivity? This action research study answers these questions by tracking the progress of three typical senior leadership teams consisting of 31 executives participating in a six-month team coaching program. Assessments (pre- and post), workshops, and feedback based on ego development theories and mindfulness were applied to upgrade the senior leadership teams’ transformational stages and reframe their organizational leadership cultures. Results suggest that the team effectiveness of the three leadership teams increased up to 43 percent according to post-survey feedback from superior, direct report, and peers. Discussion is offered to show that senior leadership team coaching help teams to achieve a consensus on common purposes, establish a foundation of trust, improve collective skills, and promote efficient operation. All factors translate into better team performance. Implications of the results for future executive development programs are discussed and specific recommendations are provided.

Keywords: action research, ego development, mindfulness, senior leadership team coaching, team effectiveness, transformational stages

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Authors: Muhammad Ilham Agus Salim, Muhammad Ikbal

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The ASEAN Economic Community (AEC) was set up in 2003 with the objectives of creating a single market and production base, enhancing equitable economic development as well as facilitating the integration into the global economy. The AEC involves liberalization and facilitation of trade in goods, skilled labour, services, and investment, as well as protection and promotion of investment. The thesis outlines the AEC Blueprint actions in scope of globalization of investment and capital market. Free flows of investment and freer flows of capital market urge countries in South East Asia to coordinate and to collaborate in securing the interest of public, and this leads to the importance of financial services authorities in ASEAN to prepare the mechanism of guarding the flows of investment. There is no exception, especially for Indonesian Financial Services Authority (OJK) as one of the authorized body in capital market supervision, to enforce its authorities as supervisory body.

Keywords: AEC blueprint, OJK, capital market, integration

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Authors: Wangshi Yong, Wei Shi, Jing Zou, Qiang Li, Yilin Tian

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With the advancement of the reform of China’s housing security system, the impact is becoming increasingly profound. This paper explores the relationship between the housing security system and household entrepreneurship on the 2017 China Household Finance Survey (CHFS) and conducts a large number of robustness checks, including PSM and IV estimation. The results show that the assistance of the housing security system will significantly promote family entrepreneurship, increasing the probability of entrepreneurship by 2%. Its internal mechanism is mainly achieved by relaxing liquidity constraints and increasing household social capital. However, the risk preference effect has not existed. Heterogeneity analysis shows that the positive impact of the housing security system on family entrepreneurship is mainly reflected in areas with high housing prices and incomes, as well as households with long-term security and social or commercial insurance. Meanwhile, it also verifies that the positive externalities of the housing security system will also positively affect active entrepreneurial motivation, entrepreneurial intensity, and entrepreneurial innovation.

Keywords: the housing security system, household entrepreneurship, social capital, liquidity constraints, risk preference

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Authors: Suleman Bawa, Ayiku Emmanuel Lartey

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Purpose - This paper aims to examine the association between knowledge capital and multinational firms’ innovation management. We again explored the impact of transboundary investment and assimilative capacity between knowledge capital and multinational firms’ innovation management. The vital position of knowledge capital and multinational firms’ innovation management in today’s increasingly volatile environment coupled with fierce competition has been extensively acknowledged by academics and industry investment capitals. Design/methodology/approach - The theoretical association model and an empirical correlation analysis were constructed based on relevant research using data collected from 19 multinational firms in Ghana as the subject, and path analysis was constructed using SPSS 22.0 and AMOS 24.0 to test the formulated hypotheses. Findings - Varied conclusions are drawn consequential from theoretical inferences and empirical tests. For multinational firms, knowledge capital relics positively significant to multinational firms’ innovation management. Multinational firms with advanced knowledge capital likely spawn greater corporations’ innovation management. Second, transboundary investment efficiently intermediates the association between knowledge physical capital, knowledge interactive capital, and corporations’ innovation management. At the same time, this impact is insignificant between knowledge of empirical capital and corporations’ innovation management. Lastly, the impact of transboundary investment and assimilative capacity on the association between knowledge capital and corporations’ innovation management is established. We summarized the implications for managers based on our outcomes. Research limitations/implications - Multinational firms must dynamically build knowledge capital to augment corporations’ innovation management. Conversely, knowledge capital motivates multinational firms to implement transboundary investment and cultivate assimilative capacity. Accordingly, multinational firms can efficiently exploit diverse information to augment their corporate innovation management. Practical implications – This paper presents a comprehensive justification of knowledge capital and manufacturing firms’ innovation management by exploring the impact of transboundary investment and assimilative capacity within the manufacturing industry, its sequential progress, and its associated challenges. Originality/value – This paper is amongst the first to find empirical results to back knowledge capital and manufacturing firms’ innovation management by exploring the impact of transboundary investment and assimilative capacity within the manufacturing industry. Additionally, aligning knowledge as a coordinative instrument is a significant input to our discernment in this area.

Keywords: knowledge capital, transboundary investment, innovation management, assimilative capacity

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Authors: Nuray Turan, Maria Karanika-Murray

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In working life, positive behavior and positive mood researches has given importance more and more. Increasing research on the subject sreveals this importance. In this context, positive psychological capital (PsyCap), job crafting (JC), and creativity areamongtheprominentissues in working life. However, it is noteworthy that there is not enough research on the interaction between these three concepts. Therefore, this research has been designed. The question “Does the interaction between JC and PsyCap improve creativity in working life?” has been raised, and“JobCrafting Mediating Effect Between Positive Psychological Capital and Creativity” has been questioned. A questionnaire will be applied using PsyCap, JC and Creativity scales to find answers to the aforementioned questions. Who will be the survey participants is in the process of being determined.

Keywords: positive psychological capital, job crafting, creativity, working life

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Authors: Han Song, Tingting Wei, Dong Chen

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The combination of capital and rural areas in China has shown its great significance in promoting urban-rural integration and new-style urbanization, enhancing regional capacity for sustainable rural development and optimizing human settlement environment. The purpose of this study is to find capital operation mechanism in rural area and rural planning guidance in China. Based on case studies in Chinese rural areas, two types of capital operation mechanism in rural areas are summed up: intervention in the field of agriculture promoting the upgrading and innovation of agricultural industry chain, intervention in rural life and leisure areas updating rural connotation and form. In the light of experiences in Japan and Taiwan, it is proposed that government's norms and guidance, rural investment intensity and rural self-organization are three important factors for capital to drive rural development. It is also found that the unique land tenure and rural governance tradition are two important factors effecting the combination of capital and rural regions in China, which requires full attention in rational policy-making and rural planning. It comes to a conclusion as four directions of the overall reform of the rural planning: targeting at enhancing the viability of rural and sustainable capacity, encouraging differences in investment incentives and planning policies, providing land usage in the rural areas with planning support and reforming the village system. Directional guidance is also made for different types of capital investments, suggesting that capital should be rooted in agriculture and rural land to benefit farmers and update human settlements.

Keywords: capital, rural areas, rural planning, rural governance

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Authors: Johannes Van Der Sandt

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This paper explores and reflects on the power of music, and more specific singing as an instrument for integration, inclusion, group cohesion, collective cooperation, repairing social relationships and facilitating dialogue between groups in conflict. The General Assembly of the United Nations has declared the 21st of September as International Day of Peace. This day is dedicated to advocate and strengthen among all people, an annual day to strive for no violence and cease-fire. What role does music play in strengthening ideals of peace? The findings of this paper is a result of field and online research as well as a literature survey to identify the most important examples of institutions, instruments or initiatives where music serves as a vehicle for the transmission and promoting of peace ideals and acting to assist movements for social change. Important examples where singing and music were used as tools for peace activism are the 1987 Estonian Singing Revolution and the more recent peace engagement in the Afghan Conflict, both very good examples of the cultural capital of the local population used as catalyst for promoting peace. The author offers a concise and relevant overview of such initiatives with the aim to validate the power of music and song as tools to support the United Nation’s Declaration on the Promotion Among Youth of the Ideals of Peace, Mutual Respect and Understanding Between Peoples: Young people should be educated and made aware of the ideals of peace. They should be educated in a spirit of mutual understanding and respect for one another in order to develop an attitude of striving for equal rights for all human beings, believing in economic and social growth for all, together with a belief in disarmament and working towards the maintenance of peace and security worldwide.

Keywords: conflict, music, peace, singing

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Authors: Deepak Jugran

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Purpose: The purpose of this study is to identify how past Pandemics shaped social evolution and cities. Methodology: A historical and comparative analysis of major historical pandemics in human history their origin, transmission route, biological response and the aftereffects. A Comprehensive pre & post pandemic scenario and focuses selectively on major issues and pandemics that have deepest & lasting impact on society with available secondary data. Results: Past pandemics shaped the behavior of human societies and their cities and made them more resilient biologically, intellectually & socially endorsing the theory of “Survival of the fittest” by Sir Charles Darwin. Pandemics & Infectious diseases are here to stay and as a human society, we need to strengthen our collective response & preparedness besides evolving mechanisms for strict controls on inter-continental movements of people, & especially animals who become carriers for these viruses. Conclusion: Pandemics always resulted in great mortality, but they also improved the overall individual human immunology & collective social response; at the same time, they also improved the public health system of cities, health delivery systems, water, sewage distribution system, institutionalized various welfare reforms and overall collective social response by the societies. It made human beings more resilient biologically, intellectually, and socially hence endorsing the theory of “AGIL” by Prof Talcott Parsons. Pandemics & infectious diseases are here to stay and as humans, we need to strengthen our city response & preparedness besides evolving mechanisms for strict controls on inter-continental movements of people, especially animals who always acted as carriers for these novel viruses. Pandemics over the years acted like natural storms, mitigated the prevailing social imbalances and laid the foundation for scientific discoveries. We understand that post-Covid-19, institutionalized city, state and national mechanisms will get strengthened and the recommendations issued by the various expert groups which were ignored earlier will now be implemented for reliable anticipation, better preparedness & help to minimize the impact of Pandemics. Our analysis does not intend to present chronological findings of pandemics but rather focuses selectively on major pandemics in history, their causes and how they wiped out an entire city’s population and influenced the societies, their behavior and facilitated social evolution.

Keywords: pandemics, Covid-19, social evolution, cities

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Authors: Chang Li-Yu

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Purposes: The present research focuses on exploring the latent growth model of psychological capital in disadvantaged adolescents and assessing its relationship with subjective well-being. Methods: Longitudinal study design was utilized and the data was from Taiwan Database of Children and Youth in Poverty (TDCYP), using the student questionnaires from 2009, 2011, and 2013. Data analysis was conducted using both univariate and multivariate latent growth curve models. Results: This study finds that: (1) The initial state and growth rate of individual factors such as parent-child relationships, psychological capital, and subjective wellbeing in economically disadvantaged adolescents have a predictive impact; (2) There are positive interactive effects in the development among factors like parentchild relationships, psychological capital, and subjective well-being in economically disadvantaged adolescents; and (3) The initial state and growth rate of parent-child relationships and psychological capital in economically disadvantaged adolescents positively affect the initial state and growth rate of their subjective well-being. Recommendations: Based on these findings, this study concretely discusses the significance of psychological capital and family cohesion for the mental health of economically disadvantaged youth and offers suggestions for counseling, psychological therapy, and future research.

Keywords: economically disadvantaged adolescents, psychological capital, parent-child relationships, subjective well-beings

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Authors: Luis Fernando Pinedo-Lomeli, Rosa Martha Lopez-Gutierrez, Jose Antonio Michel-Macarty, Cesar Cruz-Hernandez, Liliana Cardoza-Avendaño, Humberto Cruz-Hernandez

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Robots are working in industry and services performing repetitive or dangerous tasks, however, when flexible movement capabilities and complex tasks are required, the use of many robots is needed. Also, productivity can be improved by reducing times to perform tasks. In the last years, a lot of effort has been invested in research and development of collective control of mobile robots. This interest is justified as there are many advantages when two or more robots are collaborating in a particular task. Some examples are: cleaning toxic waste, transportation and manipulation of objects, exploration, and surveillance, search and rescue. In this work a study of collective movements of mobile robots is presented. A solution of collisions avoidance is developed. This solution is levered on a communication implementation that allows coordinate movements in different paths were avoiding obstacles.

Keywords: synchronization, communication, robots, legos

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Authors: Nouha Ben Salah, Mohamed Ali Omri

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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: Juniarti, Agus Arianto Toly

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This study aims to examine the effect of capital expenditure on the investors’ responses. The respondents were companies with the best stock performance in each sector in 2017. The observation period is 2017 to 2019. Top 10 companies in each sector with the best stock performance in companies listed on the Indonesia Stock Exchange were selected. The main variables are a growth signal which is proxied by growth in capital spending and capital expenditure, and risk and investor response, which is proxied by CAR. Financial performance as measured by ROA is a control variable in this study. The results showed that the signal of growth as measured by capital expenditures responded positively by the market, the risk moderates this influence, companies with high risk will be responded negatively by investors and vice versa. This finding corrects previous findings that only looked at the signal aspect of growth, without linking it to risk. In addition, these findings reinforce the argument that investors buy the future of the company, not a momentary financial performance. This can be seen from the absence of ROA influence on investor response. This study found that companies need to manage risk appropriately, because the risk aspect of the company is a crucial factor for investors. High risks will eliminate the benefits of strategic decisions in this case in the form of capital expenditures.

Keywords: capital expenditure, growth signals, investor response, risk

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Authors: Jamal Abdi

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This paper is largely a response/critique of Samuel P. Huntington´s Clash of Civilizations thesis. The overriding argument is that Huntington´s thesis is characterized by failure to distinguish between ´groups´ and ´categories´. Multinational civilizations overcoming their internal collective action problems, which would enable them to pursue a unified strategy vis-à-vis the West, is a rather foundational assumption in his theory. Without assigning sufficient intellectual attention to the processes through which multinational civilizations may gain capacity for concerted action i.e. become a group, he contended that the post-cold-war world would be shaped in large measure by interactions among seven or eight major civilizations. Thus, failure in providing a convincing analysis of multi-national civilizations´ transition from categories to groups is a significant weakness in Huntington´s clash theory. It is also suggested that so-called Islamic terrorism and the war on terror is not to be taken as an expression of presence of clash between a Western and an Islamic civilization, as terrorist organizations would be superfluous in a world characterized by clash of civilizations. Consequences of multinational civilizations becoming a group are discussed in relation to contemporary Western superiority.

Keywords: categories, civilizations, clash, groups, groupness

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Authors: Seba Mohanty, Jitendra Mahakud

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Capital ratio is one of the major indicators of the stability of the commercial banks. Pertinent to its pervasive importance, over the years the regulators, policy makers focus on the maintenance of the particular level of capital ratio to minimize the solvency and liquidation risk. In this context, it is very much important to identify the relationship between capital and risk and find out the factors which determine the capital ratios of commercial banks. The study examines the relationship between capital and risk of the commercial banks operating in India. Other bank specific variables like bank size, deposit, profitability, non-performing assets, bank liquidity, net interest margin, loan loss reserves, deposits variability and regulatory pressure are also considered for the analysis. The period of study is 1997-2015 i.e. the period of post liberalization. To identify the impact of financial crisis and implementation of Basel II on capital ratio, we have divided the whole period into two sub-periods i.e. 1997-2008 and 2008-2015. This study considers all the three types of commercial banks, i.e. public sector, the private sector and foreign banks, which have continuous data for the whole period. The main sources of data are Prowess data base maintained by centre for monitoring Indian economy (CMIE) and Reserve Bank of India publications. We use simultaneous equation model and more specifically Two Stage Least Square method to find out the relationship between capital and risk. From the econometric analysis, we find that capital and risk affect each other simultaneously, and this is consistent across the time period and across the type of banks. Moreover, regulation has a positive significant impact on the ratio of capital to risk-weighted assets, but no significant impact on the banks risk taking behaviour. Our empirical findings also suggest that size has a negative impact on capital and risk, indicating that larger banks increase their capital less than the other banks supported by the too-big-to-fail hypothesis. This study contributes to the existing body of literature by predicting a strong relationship between capital and risk in an emerging economy, where banking sector plays a majority role for financial development. Further this study may be considered as a primary study to find out the macro economic factors which affecting risk and capital in India.

Keywords: capital, commercial bank, risk, simultaneous equation model

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Authors: Jung Lee

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The last decade has witnessed more people than ever before using social media and broadening their social circles. Social media users connect not only with their friends but also with professional acquaintances, primarily coworkers, and clients; personal and professional social circles are mixed within the same social media platform. Considering the positive aspect of social media in facilitating communication and mutual understanding between individuals, we infer that social media interactions with co-workers could indeed benefit one’s professional life. However, given privacy issues, sharing all personal details with one’s co-workers is not necessarily the best practice. Should one connect with coworkers via social media? Will social media connections with coworkers eventually benefit one’s long-term career? Will the benefit differ across cultures? To answer, this study examines how social media can contribute to organizational communication by tracing the foundation of user motivation based on social capital theory, leader-member exchange (LMX) theory and expectancy theory of motivation. Although social media was originally designed for personal communication, users have shown intentions to extend social media use for professional communication, especially when the proper incentive is expected. To articulate the user motivation and the mechanism of the incentive expectation scheme, this study applies those three theories and identify six antecedents and three moderators of social media use motivation including social network flaunt, shared interest, perceived social inclusion. It also hypothesizes that the moderating effects of those constructs would significantly differ based on the relationship hierarchy among the workers. To validate, this study conducted a survey of 329 active social media users with acceptable levels of job experiences. The analysis result confirms the specific roles of the three moderators in social media adoption for organizational communication. The present study contributes to the literature by developing a theoretical modeling of ambivalent employee perceptions about establishing social media connections with co-workers. This framework shows not only how both positive and negative expectations of social media connections with co-workers are formed based on expectancy theory of motivation, but also how such expectations lead to behavioral intentions using career success model. It also enhances understanding of how various relationships among employees can be influenced through social media use and such usage can potentially affect both performance and careers. Finally, it shows how cultural factors induced by social media use can influence relations among the coworkers.

Keywords: the social network, workplace, social capital, motivation

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Authors: Nasir Ullah

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Marketing strategies are important factors in the success of a company. Local pharmaceutical companies in Pakistan face several issues, such as low-level budgets, lack of skilled human resources, and challenges to competing with multinational competitors that have negative impacts on their success. However, still there exist local companies with great levels of success in the pharmaceutical sector. This study aims to evaluate the marketing strategies of successful local companies in the pharmaceutical sector of Khyber Pakhtunkhwa, Pakistan. The study employed a constructivist approach to know about successful strategies of the marketing managers that worked well. For this purpose, in-depth interviews were conducted with marketing managers of four pharmaceutical companies which were deemed as successful on the basis of their annual target achievements. Thematic analysis was conducted using Nvivo to devise major themes from the collected data. Four major themes or successful strategies were identified. These are i) share in the profit to marketing and sales staff, ii) invitation to the doctors for participation in free medical camps and health awareness seminars, iv) incentives for the Doctors and retailers, v) utilization of traditional capital (local social relationships) by the marketing officers. The study concludes that profit share to the employees, valuing doctors through their involvement and utilization of traditional capital are the successful marketing strategies of the successful pharmaceutical companies in the Pakhtun society of Pakistan. The study suggests hiring local staff that can utilize their traditional capital to influence doctors' decisions regarding the prescription of their medicine to the patients. The study also suggests profit share or increased bonuses to the marketing and sales staff as a measure of success.

Keywords: successful marketing strategies, pharmaceutical industry, traditional social capital, local companies

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Authors: Farid Habibi Tanha, Mojtaba Jahanbazi, Morteza Foroutan, Rasidah Mohd Rashid

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This paper depicts the effects of asymmetric information in determining capital inflows to be captured through stock market microstructure. The model can explain several stylized facts regarding the capital immobility. The first phase of the research involves in collecting and refining 150,000,000 daily data of 11 stock markets over a period of one decade in an effort to minimize the impact of survivorship bias. Three micro techniques were used to measure information asymmetries. The final phase analyzes the model through panel data approach. As a unique contribution, this research will provide valuable information regarding negative effects of information asymmetries in stock markets on attracting foreign investments. The results of this study can be directly considered by policy makers to monitor and control changes of capital flow in order to keep market conditions in a healthy manner, by preventing and managing possible shocks to avoid sudden reversals and market failures.

Keywords: asymmetric information, capital inflow, market microstructure, investment

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Authors: Wesam Hamed

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This paper contributes to the existing literature by investigating the impact of political risks on the capital adequacy ratio in the banking sector of Gulf Cooperation Council (GCC) countries, which is the first attempt for this nexus to the best of our knowledge. The dynamic panel data model (System‐GMM) showed that political risks significantly decrease the capital adequacy ratio in the banking sector. For this purpose, we used political risks, bank-specific, profitability, and macroeconomic variables that are utilized from the data stream database for the period 2005-2017. The results also actively support the “too big to fail” hypothesis. Finally, the robustness results confirm the conclusions derived from the baseline System‐GMM model.

Keywords: capital adequacy ratio, system GMM, GCC, political risks

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Authors: Maryam Esfandiari, Bohdan Fridrich

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On December 28, 2017, a wave of protests erupted in several Iranian cities. Protesters demonstrated against the president, Hasan Rohani, and theocratical nature of the regime. Iran has a recent history with protest movements, such as Green Movement responsible for demonstrations after 2009 Iranian presidential election. However, the 2017/2018 protests differ from the previous ones in terms of organization and agenda. The events show little to no central organization and seem as being sparked by grass root movements and by citizens’ fatigue of government corruption, authoritarianism, and economic problems of the country. Social media has played important role in communicating the protests to the outside world and also in general coordination. By using content analyses, this paper analyzes the visual content of Twitter posts published during the protests. It aims to find the correlation between their decentralized nature and nature of the tweets – either emotionally arousing or efficiency-elicit. Pictures are searched by hashtags and coded by their content, such as ‘crowds,’ ‘protest activities,’ ‘symbols of unity,’ ‘violence,’ ‘iconic figures,’ etc. The study determines what type of content prevails and what type is the most impactful in terms of reach. This study contributes to understanding the role of social media both as a tool and a space in protest organization and portrayal in countries with limited Internet access.

Keywords: twitter, Iran, collective action, protest

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Authors: Jagannath Mohanty, Shiv Nath Sinha

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India is the first country in the world, where spending on Corporate Social Responsibily (CSR) has been made mandatory. Predominantly Indian enterprises have been philanthrophic for hundreds of years, where giving back to the society is the religious duty of the rich. Therefore Indian businesses have been voluntarily spending on CSR activities, while several businesses kept spending on non business activities a significant number of entrepreneurs abstained from social spending, leading Government of India to take the lesgislative route by mandating 2% spend of net profit on CSR activities failing which companeis will be dealt legally. While the legislation on suface appers progressive and pro social, yet the consequences of making a rather volutary action a legally binding act is yet to be seen. This paper examines the possible social impact of the legislation and potential response of the corporate to a legislation of this kind.

Keywords: corporate social responsibility (CSR), companies act 2013, corporate citizenship, social spending

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Authors: Panida Jongsuksomsakul

Abstract:

This study of the ‘happiness’ and ‘sustainability’ in the community of Donkeaw, Amphoe Mae Rim, Chiang Mai Province during the non-election period in Thailand, noted that their happiness levels are in the middle-average range. This was found using a mixed approach of qualitative and quantitative methods (N = 386, α = 0.05). The study explores indicators for six aspects of well-being and happiness, including, good local governance, administrative support for the health system that maintains people’s mental and physical health, environment and weather, job security and a regular income aids them in managing a sustainable lifestyle. The impact of economic security and community relationships on social and cultural capital, and the way these aspects impact on the life style of the community, affects the sustainable well-being of people. Moreover, living with transparency and participatory communication led to diverse rewards in many areas.

Keywords: communication, happiness, well-being, Donkeaw community, social and cultural capital

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Authors: Suresh Ramachandra

Abstract:

Accounting values of firms are determined by strategies that firms pursue which are influenced by board characteristics specific to firms. Using two broad constructs of board characteristics, namely, board capital and board control, in the Malaysian context, this research attempts to infer their conjoint relevance to accounting values. The results of this research indicate that firms are able to increase their accounting values by deliberately selecting board characteristics which include director reputation and political affiliations.

Keywords: accounting values, board characteristics, board capital, board control

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Authors: Touraj Hashemi, Zahara Saeidi, Paxshan H. Gader-l-Shateri

Abstract:

The present study aimed to determine the relationship between dimensions of psychological capital and psychological well-being. This research was conducted with a correlatiove method. The study population included the students of Sulaymaniyah, Garmian, and Halabja Universities in the Kurdistan region of Iraq. Therefore, using the one-stage cluster method, 300 subjects were selected and completed Riff's psychological well-being scale, and Luthans' psychological capital questionnaire. Data were analyzed using the multiple regression method. Results showed that self-efficacy, optimism, hope, and resilience had a positive relationship with psychological well-being. Hence, it can be concluded the four dimensions of psychological capital are able, in addition to modulating the effects of stress sources, to set the stage for the motivational use of life's stressors in order to develop new challenges and help the individual to continuous effort in order to develop new goals and expand happiness.

Keywords: psychological well-being, self-efficacy, optimism, hope, resilience

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Authors: Peter Ugbedeojo Nelson

Abstract:

Despite the tremendous advancements and knowledge acquisition around entrepreneurship orientation (EO) research, there may still be more to learn on how environmental dynamics would permute organizational processes and determine the extent to which success would be achieved. Using the contingency theory, we test a model that proposes a moderating influence of external relational capital and environmental hostility on the EO-performance effect of 423 managers/owners of small and medium scale enterprises. The hypotheses were tested using Hayes simultaneous regression, and the results showed that all EO dimensions (risk-taking, innovation, and performance) had a main effect on performance while the moderating variables interacted well with risk-taking (more than other EO dimensions) to improve performance. However, external relational capital, more than environmental hostility, influences the EO-performance relationship. Our findings highlight the differential ways that EO dimensions interact with environmental contingencies to influence performance. Further studies can examine how competitive aggressiveness and autonomy are moderated by external relational capital and environmental hostility.

Keywords: external relational capital, entrepreneurial orientation, risk-taking, innovation, proactiveness

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