Search results for: firm competitiveness
849 Web Quest as the Tool for Business Writing Skills Enhancement at Technical University EFL Classes
Authors: Nadezda Kobzeva
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Under the current trend of globalization, economic and technological dynamics information and the means by which it is delivered and renewed becomes out-of-date rapidly. Thus, educational systems as well as higher education are being seriously tested. New strategies’ developing that is supported by Information and Communication Technology is urgently required. The essential educators’ mission is to meet the demands of the future by preparing our young learners with proper knowledge, skills and innovation capabilities necessary to advance our competitiveness globally. In response to the modern society and future demands, the oldest Siberian Tomsk Polytechnic University has wisely proposed several initiatives to promote the integration of Information and Communication Technology (ICT) in education, and increase the competitiveness of graduates by emphasizing inquiry-based learning, higher order thinking and problem solving. This paper gives a brief overview of how Web Quest as ICT device is being used for language teaching and describes its use advantages for teaching English as a Foreign Language (EFL), in particular business writing skills. This study proposes to use Web Quest to promote higher order thinking and ICT integration in the process of engineers training in Tomsk Polytechnic University, Russia.Keywords: web quest, web quest in pedagogy, resume (CVs) and cover letter writing skills, ICT integration
Procedia PDF Downloads 372848 Information Technology (IT) Outsourcing and the Challenges of Implementation in Financial Industries: A Case Study of Guarantee Trust Assurance PLC
Authors: Salim Ahmad, Ahamed Sani Kazaure, Haruna Musa
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Outsourcing had been the contractual relationship in which the responsibility for a function or task is handed over to an outside firm for a fixed period of time which is not the same as contracting where a specific one-off task is allocated to an external business; therefore in information technology a specialist area such as maintenance of web servers is controlled by an outside firm or if the department is not a critical factor the whole IT section may be outsourced. Organisation contracts is frequently a major area in successful outsourcing relationship, whereby the contracts specify the right, liability and expectation of the vendor and contracts are mostly of high value and last for very long. Therefore, in this research one particular project that is been outsourced for the financial industry (Guarantee Trust Assurance PlC) is been discussed along with the approach used and the various problems encountered, though Outsourcing is not necessarily a perfect and easy way out for business. It is extremely critical for a company to look at all the aspect of outsourcing before deciding to use it as an instrument for development. Moreover, critical analysis of the management issues encountered while implementing the outsourcing project have been fully discussed in the paper.Keywords: outsourcing, techniques used in outsourcing, challenges of outsourcing implementation, management issues during implementation of outsourcing project
Procedia PDF Downloads 367847 The Determinants of Financial Ratio Disclosures and Quality: Evidence from an Emerging Market
Authors: Ben Kwame Agyei-Mensah
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This study investigated the influence of firm-specific characteristics which include proportion of Non-Executive Directors, ownership concentration, firm size, profitability, debt equity ratio, liquidity and leverage on the extent and quality of financial ratios disclosed by firms listed on the Ghana Stock Exchange. The research was conducted through detailed analysis of the 2012 financial statements of the listed firms. Descriptive analysis was performed to provide the background statistics of the variables examined. This was followed by regression analysis which forms the main data analysis. The results of the extent of financial ratio disclosure level, mean of 62.78%, indicate that most of the firms listed on the Ghana Stock Exchange did not overwhelmingly disclose such ratios in their annual reports. The results of the low quality of financial ratio disclosure mean of 6.64% indicate that the disclosures failed woefully to meet the International Accounting Standards Board's qualitative characteristics of relevance, reliability, comparability and understandability. The results of the multiple regression analysis show that leverage (gearing ratio) and return on investment (dividend per share) are associated on a statistically significant level as far as the extent of financial ratio disclosure is concerned. Board ownership concentration and proportion of (independent) non-executive directors, on the other hand were found to be statistically associated with the quality of financial ratio disclosed. There is a significant negative relationship between ownership concentration and the quality of financial ratio disclosure. This means that under a higher level of ownership concentration less quality financial ratios are disclosed. The findings also show that there is a significant positive relationship between board composition (proportion of non-executive directors) and the quality of financial ratio disclosure.Keywords: voluntary disclosure, firm-specific characteristics, financial reporting, financial ratio disclosure, Ghana stock exchange
Procedia PDF Downloads 582846 The Influence of Remuneration Committees, Directors' Shareholding and Institutional Ownership on the Remuneration of Directors in the Large Listed Companies in South Africa
Authors: Henriette Scholtz
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Excessive executive directors’ remuneration remains a major concern for many stakeholders and are some of the factors to blame for the recent global financial crisis. The objective of this study was to examine whether certain firm characteristics are an effective way of protecting shareholders’ interests with respect to executive directors’ remuneration. To achieve this, an ordinary least squares model was used to test the relationship between the remuneration of executive directors and a number of firm and corporate governance characteristics to determine whether these characteristics have an influence on executive directors’ remuneration of large listed companies in South Africa. It was found that corporate governance reforms relating to institutional ownership, shareholder voting on the remuneration policy and the number of remuneration committee meetings acts as an effective governance tool to protect shareholder’s interests with regard to executive remuneration. There is no evidence that the number of non-executive directors on the remuneration committee has an influence on the executive directors’ remuneration.Keywords: executive directors’ remuneration, agency theory, corporate governance, remuneration committee, directors’ shareholding, institutional ownership
Procedia PDF Downloads 199845 The Impact of Artificial Intelligence on Higher Education in Latin America
Authors: Luis Rodrigo Valencia Perez, Francisco Flores Aguero, Gibran Aguilar Rangel
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Artificial Intelligence (AI) is rapidly transforming diverse sectors, and higher education in Latin America is no exception. This article explores the impact of AI on higher education institutions in the region, highlighting the imperative need for well-trained teachers in emerging technologies and a cultural shift towards the adoption and efficient use of these tools. AI offers significant opportunities to improve learning personalization, optimize administrative processes, and promote more inclusive and accessible education. However, the effectiveness of its implementation depends largely on the preparation and willingness of teachers to integrate these technologies into their pedagogical practices. Furthermore, it is essential that Latin American countries develop and implement public policies that encourage the adoption of AI in the education sector, thus ensuring that institutions can compete globally. Policies should focus on the continuous training of educators, investment in technological infrastructure, and the creation of regulatory frameworks that promote innovation and the ethical use of AI. Only through a comprehensive and collaborative approach will it be possible to fully harness the potential of AI to transform higher education in Latin America, thereby boosting the region's development and competitiveness on the global stage.Keywords: artificial intelligence (AI), higher education, teacher training, public policies, latin america, global competitiveness
Procedia PDF Downloads 13844 Post-Covid 19 Pandemic Economy: Corporate Governance and Performance of Private Security Firms in Kenya
Authors: Sewe Silvanus Odhiambo
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Globally, many governments have publicly recognized private security firms as essential services providers. The private security firms face a lot of challenges, but the COVID-19 situation also has exacerbated them to another level. This paper locates its relevance in the post-coronavirus era. The COVID-19 pandemic has redefined the world operation, which shows a higher impact on the security field. Accordingly, the purpose of the study was to examine the role of corporate governance on the performance of private security firms in a post-covid pandemic era in Kenya. The study employed a descriptive research design, which included a quantitative approach and secondary data. The study was carried in the month of July 2021 from the registered private security firms. After targeting all private security firms, only 54 firms had disclosed their annual report by the time of conducting the study. The results depicted that pandemic has affected the performance of private security firms measures unfavorably. Further, boards of directors show a positive association with security firm performance. The study recommends that there is need board of directors to enhance management’s risk assessments in the midst of COVID-19; ensure that there are business continuity plans; there is organizational resilience; there is need for the development of new digital strategies; enabling the digital workforce in the firms and have effective communication plans with both internal and external stakeholders to deal with uncertainties and develop more post-COVID practices for boards of directors to improve performance of private security firms in Kenya. The practical implications of the study are that the research outcomes might assist regulatory bodies, investors, policymakers, and the security sector in general in their formulation of public and corporate governance strategies concerning future emergency preparedness and responses. This study also provides a unique contribution to the literature of COVID-19 and security firm performance in emerging economies context.Keywords: COVID-19, corporate governance, firm performance, private security firms
Procedia PDF Downloads 152843 Board of Directors Gender Diversity, Board Committees and Financial Performance: Evidence from Nigeria
Authors: Aliyu Aminu Baba, Yahaya Danjuma, Ahmad Sule Liman-Katagum
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This paper examines the effects of the board of directors’ diversity on firm performance. We investigate the relationship between the number of women directors on the board and important board committees and financial performance measured as return on assets. Our statistical analysis supports the theoretical position of the effect diversity on financial performance. These studies enhanced the previous studies on the board of director’s gender diversity, board committees, and its impacts on firm financial performance. The study uses data from eighteen (18) Nigerian commercial banks. The study finds that banks with a higher number of females directors on board and board committees have higher Earning per share(EPS)) and Return on Assets (ROA). It also finds that some banks did not even have a single female on its corporate board. Evidence imply that decisions concerning the appointment of women to corporate boards should be on criteria and financial performance. It is recommended that banks can enhance their financial performance by having more female directors on their corporate board.Keywords: board of directors, gender diversity, board committees, financial performance
Procedia PDF Downloads 309842 Exploring Disruptive Innovation Capacity Effects on Firm Performance: An Investigation in Industries 4.0
Authors: Selma R. Oliveira, E. W. Cazarini
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Recently, studies have referenced innovation as a key factor affecting the performance of firms. Companies make use of its innovative capacities to achieve sustainable competitive advantage. In this perspective, the objective of this paper is to contribute to innovation planning policies in industry 4.0. Thus, this paper examines the disruptive innovation capacity on firm performance in Europe. This procedure was prepared according to the following phases: Phase 1: Determination of the conceptual model; and Phase 2: Verification of the conceptual model. The research was initially conducted based on the specialized literature, which extracted the data regarding the constructs/structure and content in order to build the model. The research involved the intervention of experts knowledgeable on the object studied, selected by technical-scientific criteria. The data were extracted using an assessment matrix. To reduce subjectivity in the results achieved the following methods were used complementarily and in combination: multicriteria analysis, multivariate analysis, psychometric scaling and neurofuzzy technology. The data were extracted using an assessment matrix and the results were satisfactory, validating the modeling approach.Keywords: disruptive innovation, capacity, performance, Industry 4.0
Procedia PDF Downloads 156841 Nature of HR Practices in the Micro Informal Enterprises: Case Study of Pakistan
Authors: Aamar Ilyas
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Value of firm does not only depend upon its financial and material resources rather human resource is also a significant contributor in success of organizations by achieving competitive advantage. Human resource is an important asset so it is the main responsibility of employers to get the best use of this resource. Hence, this paper will explore the human resource practices used by entrepreneurs in the informal economy in Lahore, the provincial capital of Punjab, Pakistan. In this study three major sectors are randomly selected. Snowball sampling technique was applied to collect data. Survey was conducted through interviews of 45 respondents working in the informal sector. The results show that informal sector in Pakistan is not using any formal human resource practices as done by formal enterprises. Findings suggest that there should be the implementation of the human resource practices that help the firm to increase its productivity and ensure the betterment of the employees. The main limitation of the study was short time period to cater all sectors of informal economy of Pakistan which limits the extent of its generalizability. The rationale behind this study is to uncover the facts regarding management practices of human capital in the informal sector.Keywords: HR practices, informal economy, working condition, recruitment, training, employee motivation, welfare
Procedia PDF Downloads 370840 Does Operating Cash Flow Really Matter in Value Relevance? A Recent Empirical Analysis on the Largest European Companies
Authors: Francesco Paolone
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This paper investigates the role of Operating Cash Flow (OCF) and accruals in firm valuation analyzing financial statement information from the largest European companies and evaluating their relation to firm market value. Using a dataset of 500 largest European companies in 2018, the study investigates the relative value-relevance of equity, net income and operating cash flow (OCF). Findings show that the cash flow measure has the same explanatory power and intensity as equity and earnings to explain the market value. This study contributes to the debate on the value relevance of OCF incremental to book value and earnings. It also extends the literature, showing that OCF has information content (value relevance) superior to earnings and book value in the main European markets (Bepari et al., 2013). Finally, the study provides a support that accounting method choice may confuse investors, who have reduced confidence in accounting earnings and book value; in other words, nowadays European investors rely more on cash flows instead of accruals numbers.Keywords: Cash Flow Statement, Value Relevance, Accounting, Financial Statement Analysis
Procedia PDF Downloads 123839 The Impact of Board Characteristics on Firm Performance: Evidence from Banking Industry in India
Authors: Manmeet Kaur, Madhu Vij
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The Board of Directors in a firm performs the primary role of an internal control mechanism. This Study seeks to understand the relationship between internal governance and performance of banks in India. The research paper investigates the effect of board structure (proportion of nonexecutive directors, gender diversity, board size and meetings per year) on the firm performance. This paper evaluates the impact of corporate governance mechanisms on bank’s financial performance using panel data for 28 listed banks in National Stock Exchange of India for the period of 2008-2014. Returns on Asset, Return on Equity, Tobin’s Q and Net Interest Margin were used as the financial performance indicators. To estimate the relationship among governance and bank performance initially the Study uses Pooled Ordinary Least Square (OLS) Estimation and Generalized Least Square (GLS) Estimation. Then a well-developed panel Generalized Method of Moments (GMM) Estimator is developed to investigate the dynamic nature of performance and governance relationship. The Study empirically confirms that two-step system GMM approach controls the problem of unobserved heterogeneity and endogeneity as compared to the OLS and GLS approach. The result suggests that banks with small board, boards with female members, and boards that meet more frequently tend to be more efficient and subsequently have a positive impact on performance of banks. The study offers insights to policy makers interested in enhancing the quality of governance of banks in India. Also, the findings suggest that board structure plays a vital role in the improvement of corporate governance mechanism for financial institutions. There is a need to have efficient boards in banks to improve the overall health of the financial institutions and the economic development of the country.Keywords: board of directors, corporate governance, GMM estimation, Indian banking
Procedia PDF Downloads 250838 Prioritization of Customer Order Selection Factors by Utilizing Conjoint Analysis: A Case Study for a Structural Steel Firm
Authors: Burcu Akyildiz, Cigdem Kadaifci, Y. Ilker Topcu, Burc Ulengin
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In today’s business environment, companies should make strategic decisions to gain sustainable competitive advantage. Order selection is a crucial issue among these decisions especially for steel production industry. When the companies allocate a high proportion of their design and production capacities to their ongoing projects, determining which customer order should be chosen among the potential orders without exceeding the remaining capacity is the major critical problem. In this study, it is aimed to identify and prioritize the evaluation factors for the customer order selection problem. Conjoint analysis is used to examine the importance level of each factor which is determined as the potential profit rate per unit of time, the compatibility of potential order with available capacity, the level of potential future order with higher profit, customer credit of future business opportunity, and the negotiability level of production schedule for the order.Keywords: conjoint analysis, order prioritization, profit management, structural steel firm
Procedia PDF Downloads 380837 Apple in the Big Tech Oligopoly: An Analysis of Disruptive Innovation Trends and Their Influence on the Capacity of Conserving a Positive Social Impact as Primary Purpose
Authors: E. Loffi Borghese
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In this comprehensive study, we delve into the intricate dynamics of the big tech oligopoly, focusing particularly on Apple as a case study. The core objective is to scrutinize the evolving relationship between a firm's commitment to positive social impact as its primary purpose and its resilience in the face of disruptive innovations within the big tech market. Our exploration begins with a theoretical framework, emphasizing the significance of distinguishing between corporate social responsibility and social impact as a primary purpose. Drawing on insights from Drumwright and Bartkus and Glassman, we underscore the transformative potential when a firm aligns its core business with a social mission, transcending mere side activities. Examining successful firms, such as Apple, we adopt Sinek's perspective on inspirational leadership and the "golden circle." This framework sheds light on why some organizations, like Apple, succeed in making positive social impact their primary purpose. Apple's early-stage life cycle is dissected, revealing a profound commitment to challenging the status quo and promoting simpler alternatives that resonate with its users' lives. The study then navigates through industry life cycles, drawing on Klepper's stages and Christensen's disruptive innovations. Apple's dominance in the big tech oligopoly is contrasted with companies like Harley Davidson and Polaroid, illustrating the consequences of failing to adapt to disruptive innovations. The data and methods employed encompass a qualitative approach, leveraging sources like ECB, Forbes, World in Data, and scientific articles. A secondary data analysis probes Apple's market evolution within the big tech oligopoly, emphasizing the shifts in market context and innovation trends that demand strategic adaptations. The subsequent sections scrutinize Apple's present innovation strategies, highlighting its diversified product portfolio and intensified focus on big data. We examine the implications of these shifts on Apple's capacity to maintain positive social impact as its primary purpose, pondering potential consequences on its brand perception. The study culminates in a reflection on the broader implications of the big tech oligopoly's dominance. It contemplates the diminishing competitiveness in the market and the potential sidelining of positive social impact as a competitive advantage. The expansion of tech firms into diverse sectors raises concerns about negative societal impacts, prompting a call for increased regulatory attention and awareness. In conclusion, this research serves as a catalyst for heightened awareness and discussion on the intricate interplay between firms' social impact goals, disruptive innovations, and the broader societal implications within the evolving landscape of the big tech oligopoly. Despite limitations, this study aims to stimulate further research, urging a conscious and responsible approach to shaping the future economic system.Keywords: innovation trends, market dynamics, social impact, tech oligopoly
Procedia PDF Downloads 67836 Factors Influencing Capital Structure: Evidence from the Oil and Gas Industry of Pakistan
Authors: Muhammad Tahir, Mushtaq Muhammad
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Capital structure is one of the key decisions taken by the financial managers. This study aims to investigate the factors influencing capital structure decision in Oil and Gas industry of Pakistan using secondary data from published annual reports of listed Oil and Gas Companies of Pakistan. This study covers the time-period from 2008-2014. Capital structure can be affected by profitability, firm size, growth opportunities, dividend payout, liquidity, business risk, and ownership structure. Panel data technique with Ordinary least square (OLS) regression model has been used to find the impact of set of explanatory variables on the capital structure using the Stata. OLS regression results suggest that dividend payout, firm size and government ownership have the most significant impact on financial leverage. Dividend payout and government ownership are found to have significant negative association with financial leverage however firm size indicated positive relationship with financial leverage. Other variables having significant link with financial leverage includes growth opportunities, liquidity and business risk. Results reveal significant positive association between growth opportunities and financial leverage whereas liquidity and business risk are negatively correlated with financial leverage. Profitability and managerial ownership exhibited insignificant relationship with financial leverage. This study contributes to existing Managerial Finance literature with certain managerial implications. Academically, this research study describes the factors affecting capital structure decision of Oil and Gas Companies in Pakistan and adds latest empirical evidence to existing financial literature in Pakistan. Researchers have studies capital structure in Pakistan in general and industry at specific, nevertheless still there is limited literature on this issue. This study will be an attempt to fill this gap in the academic literature. This study has practical implication on both firm level and individual investor/ lenders level. Results of this study can be useful for investors/ lenders in making investment and lending decisions. Further, results of this study can be useful for financial managers to frame optimal capital structure keeping in consideration the factors that can affect capital structure decision as revealed by this study. These results will help financial managers to decide whether to issue stock or issue debt for future investment projects.Keywords: capital structure, multicollinearity, ordinary least square (OLS), panel data
Procedia PDF Downloads 288835 Determinant Factor Analysis of Foreign Direct Investment in Asean-6 Countries Period 2004-2012
Authors: Eleonora Sofilda, Ria Amalia, Muhammad Zilal Hamzah
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Foreign direct investment is one of the sources of financing or capital that important for a country, especially for developing countries. This investment also provides a great contribution to development through the transfer of assets, management improving, and transfer of technology in enhancing the economy of a country. In the other side currently in ASEAN countries emerge the interesting phenomenon where some big producers are re-locate their basic production among those countries. This research is aimed to analyze the factors that affect capital inflows of foreign direct investment into the 6 ASEAN countries (Indonesia, Malaysia, Singapore, Thailand, Philippines, and Vietnam) in period 2004-2012. This study uses panel data analysis to determine the factors that affect of foreign direct investment in 6 ASEAN. The factors that affect of foreign direct investment (FDI) are the gross domestic product (GDP), global competitiveness (GCI), interest rate, exchange rate and trade openness (TO). Result of panel data analysis show that three independent variables (GCI, GDP, and TO) have a significant effect to the FDI in 6 ASEAN Countries.Keywords: foreign direct investment, the gross domestic product, global competitiveness, interest rate, exchange rate, trade openness, panel data analysis
Procedia PDF Downloads 462834 Analysis of Determinants of Growth of Small and Medium Enterprises in Kwara State, Nigeria
Authors: Hussaini Tunde Subairu
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Small and Medium Enterprises (SMEs) sectors serve as catalyst for employment generation, national growth, poverty reduction and economic development in developing and developed countries. However, in Nigeria despite copious and plethora of government policies and stimulus schemes directed at SMEs, the sector is still characterized by high rate of failure and discontinuities. This study therefore investigated owners/managers profile, firms characteristics and external factors as possible determinants of SMEs growth from selected SMEs in Kwara State. Primary data were sourced from 200 SMEs respondents registered with the National Association of Small and Medium Enterprises (NASMES) in Kwara State Central Senatorial District. Multiple Regressions Analysis (MRA) was used to analyze the relationship between dependent and independent variables, and pair wise correlation was employed to examine the relationship among independent variables. The Analysis of Variable (ANOVA) was employed to indicate the overall significant of the model The findings revealed that Analysis of variance (ANOVA) put the value of F-statistics at 420.45 and p-value at 0.000 was significant. The values of R2 and Adjusted R2 of 0.9643 and 0.9620 respectively suggested that 96 percent of variations in employment growth were explained by the explanatory variables. The level of technical and managerial education has t- value of 24.14 and p-value of 0.001, length of managers/owners experience in similar trade with t- value of 21.37 and p-value of 0.001, age of managers/owners with t- value of 42.98 and p-value of 0.001, firm age with t- value of 25.91 and p-value of 0.001, numbers of firms in a cluster with t- value of 7.20 and p-value of 0.001, access to formal finance with t-value of 5.56 and p-value of 0.001, firm technology innovation with t- value of 25.32 and p-value of 0.01, institutional support with t- value of 18.89 and p-value of 0.01, globalization with t- value of 9.78 and p-value of 0.01, and infrastructure with t-value of 10.75 and p-value of 0.01. The result also indicated that initial size has t-value of -1.71 and p-value of 0.090 which is consistent with Gibrat’s Law. The study concluded that owners/managers profile, firm specific characteristics and external factors substantially influenced employment growths of SMEs in the study area. Therefore, policy implication should enhance human capital development of SMEs owners/managers, and strengthen fiscal policy thrust through imposition on tariff regime to minimize effect of globalization. Governments at all level must support SMEs growth radically and enhance institutional support for SMEs growth and radically and significantly upgrading key infrastructure as rail/roads, rail, telecommunications, water and power.Keywords: external factors, firm specific characteristics, owners / manager profile, small and medium enterprises
Procedia PDF Downloads 237833 Repeatable Scalable Business Models: Can Innovation Drive an Entrepreneurs Un-Validated Business Model?
Authors: Paul Ojeaga
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Can the level of innovation use drive un-validated business models across regions? To what extent does industrial sector attractiveness drive firm’s success across regions at the time of start-up? This study examines the role of innovation on start-up success in six regions of the world (namely Sub Saharan Africa, the Middle East and North Africa, Latin America, South East Asia Pacific, the European Union and the United States representing North America) using macroeconomic variables. While there have been studies using firm level data, results from such studies are not suitable for national policy decisions. The need to drive a regional innovation policy also begs for an answer, therefore providing room for this study. Results using dynamic panel estimation show that innovation counts in the early infancy stage of new business life cycle. The results are robust even after controlling for time fixed effects and the study present variance-covariance estimation robust standard errors.Keywords: industrial economics, un-validated business models, scalable models, entrepreneurship
Procedia PDF Downloads 275832 User Perceptions Deviation from the Producers’ Intended Meaning of a Healthcare Innovation
Authors: Helle Nissen
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Physical objects surrounding people in healthcare environments are carriers of institutional logics materialized into the objects by its producers. However, institutional logics research lacks to inform us how logics become materialized and are perceived by producers vs. users of an object. The study is based on a 3-year longitudinal case study of a Danish Public Private Innovation project aiming to co-create an innovative healthcare bed commercialized to public psychiatric hospitals. The producers are a private metal firm and industrial designers from two Danish regions. The findings demonstrate that the metal firm and designers, as producers, negotiate about materializing different logics into the bed throughout the innovation process. An aesthetic logic is prioritized most, and the producers encode it with the intention to develop a bed that looks homely and less hospital-like compared to previous and existing healthcare beds. After the bed is put into use, the aesthetic logic is decoded by the users. Their perception of it differs significantly from the producers’ intended meaning, as the healthcare bed is perceived as sterile. The study has theoretical implications: It demonstrates how logics become materialized ‘here and now’, and it reveals logics as less governed by stable and clear meanings but rather as subject to changeable perceptions.Keywords: co-creation, healthcare innovation, commercialization, institutional logics
Procedia PDF Downloads 81831 Impact of Profitability, Slack Resources and Natural Disasters on China's Corporate Philanthropic Practices
Authors: Nabeel Safdar, Qian Aimin
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Corporate philanthropy is important, as the donations have been considered as a source to improve the image of business entity in modern era of high competition. We used data on annual basis from 2000 to 2014 for 1,248 firms listed at Shanghai and Shenzhen stock exchanges. Results for giving firms reveal that there is curve linear relation of profitability and CP, as profitable firms utilize cash in an efficient way and have fewer amounts of slack resource and tradeoff among stakeholder and agency cost made it more justifiable. We found that more profitability does not mean that the cash flows are available, actually good performing firms or profitable firm also good at cash management. Cash is utilized in an effective way by profitable firms, and have fewer extents of slack resources which generate curvilinear relationship of profitability with Corporate Philanthropy. We found that the trend of Corporate Philanthropy also got affected due to natural disasters. Analysis made by innovation, slack resources and directors salary revealed the positive significant relationship. It is not compulsory that firm should be only profitable for engaging in philanthropy rather they should have abundant slack resources to donate.Keywords: corporate philanthropy, free cash flows, natural disasters, profitability
Procedia PDF Downloads 300830 Corporate Social Responsibility as a Determinant of Sustainability of SME: A Study of House of Tara, a Small Business Operating in Nigeria
Authors: Bolanle Deborah Motilewa, E. K. Rowland Worlu, Gbenga Mayowa Agboola, Ayodele Maxwell Olokundun
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In the pursuit of profit maximization as a major objective of business organizations, several firms forfeit their social and economic responsibility whilst focusing on activities that are deemed to solely profit the firm, without taking into cognizance the effect of their operations on the society in which they operate. Business analysts have, however, realized the determinant role of social responsibility in corporate performance, such that firms that are able to imbibe corporate social responsibility in their core business operations may be able to take advantage of the social reputation gained across their several stakeholders. Small and medium enterprises operating in highly competitive markets are also advised to leverage on this reputation gained from being socially responsible, if they seek ways to remain relevant in the same markets dominated by multinational corporations. Adapting a case study approach, this study highlights the advantages (such as employee and customer loyalty) gained by House of Tara, a small business operating in the beauty and make-up industry in Nigeria, resulting from the firm’s commitment to advancing the society in which it operates through several social responsibility activities. It is observed that although competing with major makeup brands such as MAC, Maybelline, Dior, Mary Kay and others, House of Tara has been able to not only thrive, but gain a sizeable market in the Nigerian makeup industry, because several consumers purchase their products not solely because of the quality or price of their product, but because they perceive themselves as buying into the firm’s CSR vision. This study, therefore, recommends that small and medium enterprises that may lack adequate resources (manpower, technology, capital) needed to successfully compete with multinationals, can harness the potentials in the reputation and loyalty gained from adequate investment in corporate social responsibility.Keywords: corporate social responsibility, small and medium enterprises, House of Tara, sustainability
Procedia PDF Downloads 264829 Efficiency of Investments, Financed from EU Funds in Small and Medium Enterprises in Poland
Authors: Jolanta Brodowska-Szewczuk
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The article includes the results and conclusions from empirical researches that had been done. The research focuses on the impact of investments made in small and medium-sized enterprises financed from EU funds on the competitiveness of these companies. The researches includes financial results in sales revenue and net income, expenses, and many other new products/services on offer, higher quality products and services, more modern methods of production, innovation in management processes, increase in the number of customers, increase in market share, increase in profitability of production and provision of services. The main conclusions are that, companies with direct investments under this measure shall apply the modern methods of production. The consequence of this is to increase the quality of our products and services. Furthermore, both small and medium-sized enterprises have introduced new products and services. Investments were carried out, thus enabling better work organization in enterprises. Entrepreneurs would guarantee higher quality of service, which would result in better relationships with their customers, what is more, noting the rise in number of clients. More than half of the companies indicated that the investments contributed to the increase in market share. Same thing as for market reach and brand recognition of particular company. An interesting finding is that, investments in small enterprises were more effective than medium-sized enterprises.Keywords: competitiveness, efficiency, EU funds, small and medium-sized enterprises
Procedia PDF Downloads 376828 Do Career Expectancy Beliefs Foster Stability as Well as Mobility in One's Career? A Conceptual Model
Authors: Bishakha Majumdar, Ranjeet Nambudiri
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Considerable dichotomy exists in research regarding the role of optimism and self-efficacy in work and career outcomes. Optimism and self-efficacy are related to performance, commitment and engagement, but also are implicated in seeing opportunities outside the firm and switching jobs. There is absence of research capturing these opposing strands of findings in the same model and providing a holistic understanding of how the expectancy beliefs operate in case of the working professional. We attempt to bridge this gap by proposing that career-decision self-efficacy and career outcome expectations affect intention to quit through the competitive mediation pathways of internal and external marketability. This model provides a holistic picture of the role of career expectancy beliefs on career outcomes, by considering perceived career opportunities both inside and outside one’s present organization. The understanding extends the application of career expectancy beliefs in the context of career decision-making by the employed individual. Further, it is valuable for reconsidering the effectiveness of hiring and retention techniques used by a firm, as selection, rewards and training programs need to be supplemented by interventions that specifically strengthen the stability pathway.Keywords: career decision self-efficacy, career outcome expectations, marketability, intention to quit, job mobility
Procedia PDF Downloads 629827 Management of Quality Assessment of Teaching and Methodological Activities of a Teacher of a Military, Special Educational Institution
Authors: Maxutova I. O., Bulatbayeva A. A.
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In modern conditions, the competitiveness of the military, a special educational institution in the educational market, is determined by the quality of the provision of educational services and the economic efficiency of activities. Improving the quality of educational services of the military, the special educational institution is an urgent socially and economically significant problem. The article shows a possible system for the formation of the competitiveness of military, the special educational institution through an assessment of the quality of the educational process, the problem of the transition of the military, special educational institution to digital support of indicative monitoring of the quality of services provided is raised. Quality monitoring is presented in the form of a program or information system, the work of which is carried out in a military, the special educational institution through highlighted interrelated elements. A result-oriented model of management and assessment of the quality of work of the military, the special educational institution is proposed. The indicative indicators for assessing the quality of the teaching and methodological activity of the teacher are considered and described. The publication was prepared as part of an applied grant study for 2020-2022 commissioned by the Ministry of Education and Science of the Republic of Kazakhstan on the topic "Development of a comprehensive methodology for assessing the quality of education of graduates of military special educational institutions" IRN 00029/GF-20.Keywords: quality assessment, indicative indicators, monitoring program, educational and methodological activities, professional activities, result
Procedia PDF Downloads 144826 The Impact of Voluntary Disclosure Level on the Cost of Equity Capital in Tunisian's Listed Firms
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
Procedia PDF Downloads 510825 The Effect of Technology in Improving Tourism Cluster Competitveness
Authors: Nancy Ayman Kamal Mohamed Mehrz
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Like the economies of other countries in the Mediterranean region, the tourism sector in our country has excellent economic prospects. Tourism companies are building tourism, a sector that faces various challenges in its activities. These problems have made business activities and competition between companies difficult. In this study, which was conducted to identify the problems of the tourism sector in the Central Anatolia region, most of the problems faced by the tourism sector and consumer information on consumer rights were used. The aim is to contribute to the awareness of workers and managers working in the tourism sector and to attract the attention of companies and legislators working in the tourism sector. E-tourism is one of the newest issues in the field of tourism. Infrastructure and Information Technology (or ICT) and partner government and tourism organizations are required to achieve this type of tourism. This study measures the views of managers and tourism managers in Leman City regarding e-tourism; In addition, the effect of the literacy level of the tourism management system on tourist attractions was also examined. This research has been carried out. One of the suburbs of Isfahan province. This research is a documentary research and source material that includes literature and surveys. The results obtained show that if managers use ICT, it can help the development of e-tourism in the region, and increasing managers' views about e-tourism and improving their literacy levels can affect the development of tourism.Keywords: financial problems, the problems of tourism businesses, tourism businesses, internet, marketing, tourism, tourism management economic competitiveness, enhancing competitiveness
Procedia PDF Downloads 37824 Terrorism and Sustainable Tourism Development
Authors: P. Okoro Ugo Chigozie, P. A. Igbojekwe, E. N. Ukabuilu
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Tourism and terrorism experiences are best viewed as dynamic, complex systems with extreme diverse consequences on any nation’s economy. Tourism is one of the biggest industries in the world and one of the economical sectors which grows rapidly; tourism has positive impact on the nation’s economy. Terrorism is the method or the theory behind the method whereby an organized group or party seeks to achieve its avowed aims chiefly through the systematic use of violence; the consequences of terrorism on tourist destinations are inescapable and can be profound. Especially, it threatens the attractiveness of a tourist destination and strips the competitiveness of that destination. Destination’s vulnerability to politically motivated violence not only retracts tourists, but threatens sustainable tourism development. This paper examines the activities of the Jamaata Ahlis Sunna Liddaawati -an Islamic sect popularly known as Boko Haram – and its impact on sustainable tourism development in the Nigeria state. Possible triggers of this insurgency and potentially evolving measure against its influence on sustainable tourism including, strong image management of the tourism industry, feasible tourist safety policy, viable anti-terrorism measures, proactive respond to the challenge of terrorism, reinforcement of the legitimate frameworks and irrevocable penalty against menace of corruption; are discussed in this paper, as limiting the effects of insurgency on the attractiveness of Nigeria as safe tourists destination.Keywords: Nigeria, terrorism, sustainable tourism development, corruption and competitiveness
Procedia PDF Downloads 614823 The Relationship between Resource Sharing and Economic Resilience: An Empirical Analysis of Firms’ Resilience from the Perspective of Resource Dependence Theory
Authors: Alfredo R. Roa-Henriquez
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This paper is about organizational-level resilience and decision-making in the face of natural hazards. Research on resilience emerged to explain systems’ ability to absorb and recover in the midst of adversity and uncertainty from natural disasters, crises, and other disruptive events. While interest in resilience has accelerated, research multiplied, and the number of policies and implementations of resilience to natural hazards has increased over the last several years, mainly at the level of communities and regions, there has been a dearth of empirical work on resilience at the level of the firm. This paper uses empirical data and a sample selection model to test some hypotheses related to the firm’s dependence on critical resources, the sharing of resources and its economic resilience. The objective is to understand how the sharing of resources among organizations is related to economic resilience. Empirical results that are obtained from a sample of firms affected by Superstorm Sandy and Hurricane Harvey indicate that there is unobserved heterogeneity that explains the strategic behavior of firms in the post-disaster and that those firms that are more likely to resource share are also the ones that exhibit higher economic resilience. The impact of property damage on the sharing of resources and economic resilience is explored.Keywords: economic resilience, resource sharing, critical resources, strategic management
Procedia PDF Downloads 142822 Impact of Ownership Structure on Financial Performance of Listed Industrial Goods Firms in Nigeria
Authors: Muhammad Shehu Garba
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The financial statements of the firms between the periods of 2013 and 2022 were collected using the secondary method of data collection, and the study aims to investigate the effect of ownership structure on the financial performance of listed industrial goods companies in Nigeria. 10 firms were used as the study's sample size. The study used panel data variables of the study. The ownership structure is measured with managerial ownership, institutional ownership and foreign ownership, while financial performance is measured with return on asset and return on equity; the study made use of control variables leverage and firm size. The result shows a multivariate relationship that exists between variables of the study, which shows ROA has a positive correlation with ROE (0.4053), MO (0.2001), and FS (0.3048). It has a negative correlation with FO (-0.1933), IO (-0.0919), and LEV (-0.3367). ROE has a positive correlation with ROA (0.4053), MO (0.2001), and FS (0.2640). It has a negative correlation with FO (-0.1864), IO (-0.1847), and LEV (-0.0319). It is recommended that firms should focus on increasing their ROA. Firms should also consider increasing their MO, as this can help to align the interests of managers and shareholders. Firms should also be aware of the potential impact of FO and IO on their ROA.Keywords: firm size, ownership structure, financial performance, leaverage
Procedia PDF Downloads 54821 Interconnected Market Hypothesis: A Conceptual Model of Individualistic, Information-Based Interconnectedness
Authors: James Kinsella
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There is currently very little understanding of how the interaction between in- vestors, consumers, the firms (agents) affect a) the transmission of information, and b) the creation and transfer of value and wealth between these two groups. Employing scholarly ideas from multiple research areas (behavioural finance, emotional finance, econo-biology, and game theory) we develop a conceptual the- oretic model (the ‘bow-tie’ model) as a framework for considering this interaction. Our bow-tie model views information transfer, value and wealth creation, and transfer through the lens of “investor-consumer connection facilitated through the communicative medium of the ‘firm’ (agents)”. We confront our bow-tie model with theoretical and practical examples. Next, we utilise consumer and business confidence data alongside index data, to conduct quantitative analy- sis, to support our bow-tie concept, and to introduce the concept of “investor- consumer connection”. We highlight the importance of information persuasiveness, knowledge, and emotional categorization of characteristics in facilitating a communicative relationship between investors, consumers, and the firm (agents), forming academic and practical applications of the conceptual bow-tie model, alongside applications to wider instances, such as those seen within the Covid-19 pandemic.Keywords: behavioral finance, emotional finance, economy-biology, social mood
Procedia PDF Downloads 120820 Psychodiagnostic Tool Development for Measurement of Social Responsibility in Ukrainian Organizations
Authors: Olena Kovalchuk
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How to define the understanding of social responsibility issues by Ukrainian companies is a contravention question. Thus, one of the practical uses of social responsibility is a diagnostic tool development for educational, business or scientific purposes. So the purpose of this research is to develop a tool for measurement of social responsibility in organization. Methodology: A 21-item questionnaire “Organization Social Responsibility Scale” was developed. This tool was adapted for the Ukrainian sample and based on the questionnaire “Perceived Role of Ethics and Social Responsibility” which connects ethical and socially responsible behavior to different aspects of the organizational effectiveness. After surveying the respondents, the factor analysis was made by the method of main compounds with orthogonal rotation VARIMAX. On the basis of the obtained results the 21-item questionnaire was developed (Cronbach’s alpha – 0,768; Inter-Item Correlations – 0,34). Participants: 121 managers at all levels of Ukrainian organizations (57 males; 65 females) took part in the research. Results: Factor analysis showed five ethical dilemmas concerning the social responsibility and profit compatibility in Ukrainian organizations. Below we made an attempt to interpret them: — Social responsibility vs profit. Corporate social responsibility can be a way to reduce operational costs. A firm’s first priority is employees’ morale. Being ethical and socially responsible is the priority of the organization. The most loaded question is "Corporate social responsibility can reduce operational costs". Significant effect of this factor is 0.768. — Profit vs social responsibility. Efficiency is much more important to a firm than ethics or social responsibility. Making the profit is the most important concern for a firm. The dominant question is "Efficiency is much more important to a firm than whether or not the firm is seen as ethical or socially responsible". Significant effect of this factor is 0.793. — A balanced combination of social responsibility and profit. Organization with social responsibility policy is more attractive for its stakeholders. The most loaded question is "Social responsibility and profitability can be compatible". Significant effect of this factor is 0.802. — Role of Social Responsibility in the successful organizational performance. Understanding the value of social responsibility and business ethics. Well-being and welfare of the society. The dominant question is "Good ethics is often good business". Significant effect of this factor is 0.727. — Global vision of social responsibility. Issues related to global social responsibility and sustainability. Innovative approaches to poverty reduction. Awareness of climate change problems. Global vision for successful business. The dominant question is "The overall effectiveness of a business can be determined to a great extent by the degree to which it is ethical and socially responsible". Significant effect of this factor is 0.842. The theoretical contribution. The perspective of the study is to develop a tool for measurement social responsibility in organizations and to test questionnaire’s adequacy for social and cultural context. Practical implications. The research results can be applied for designing a training programme for business school students to form their global vision for successful business as well as the ability to solve ethical dilemmas in managerial practice. Researchers interested in social responsibility issues are welcome to join the project.Keywords: corporate social responsibility, Cronbach’s alpha, ethical behaviour, psychodiagnostic tool
Procedia PDF Downloads 358