Search results for: foreign owned firms

Authors: Rendong Cai, Bei Peng, Yanping Dong

Abstract:

In risk decision making, individuals are found to be susceptible to 'frames': people tend to be risk averse when the choice is described in terms of potential 'gains' (gain frame), whereas they tend to be risk seeking when the same choice is described in terms of potential 'losses' (loss frame); this effect is termed the framing effect. The framing effect has been well documented and some studies even find a developmental reversal in the framing effect: The more experience an individual has in a certain field, the easier for him to be influenced by the frame relevant to the field, resulting in greater decision inconsistency. Recent studies reported that using a foreign language can reduce the framing effect. However, it is not clear whether foreign language use can overcome the developmental reversal in the framing effect. The present study investigated three potential factors that may influence the developmental reversal in the framing effect: specialized knowledge of the participants, the language in which the problem is presented, and the types of problems. The present study examined the decision making behavior of 188 Chinese-English bilinguals who majored in Finance, with a group of 277 English majors as the control group. They were asked to solve a financial problem (experimental condition) and a life problem (control condition). Each problem was presented in one of the following four versions: native language-gain frame, foreign language-gain frame, native language-loss frame, and foreign language-loss frame. Results revealed that for the life problem, under the native condition, both groups were affected by the frame; but under the foreign condition, this framing effect disappeared for the financial majors. This confirmed that foreign language use modulates framing effects in general decision making, which served as an effective baseline. For the financial problem, under the native condition, only the financial major was observed to be influenced by the frame, which was a developmental reversal; under the foreign condition, however, this framing effect disappeared. The results provide further empirical evidence for the universal of the developmental reversal in risky decision making. More importantly, the results suggest that using a foreign language can overcome such reversal, which has implications for the reduction of decision biases in professionals. The findings also shed new light on the complex interaction between general decision-making and bilingualism.

Keywords: the foreign language effect, developmental reversals, the framing effect, bilingualism

Procedia PDF Downloads 370

Authors: Ukhtie Nantika Mena, Ahmad Juntika Nurihsan, Ilfiandra

Abstract:

This study aims to explore perspective on Foreign Language Classroom Anxiety (FLCA) of an international student. Descriptive narrative is used to discover written and spoken responses from the student. An online survey was employed as a secondary data to identify the level of FLCA among six UPI international students. A student with the highest score volunteered to be interviewed. Several symptoms were found; lack of concentration, excessive worry, fear, unwanted thoughts, and sweating. The results showed that difficulties to understand lecturers' correction, presentation, and fear of getting left behind are three major causes of his anxiety.

Keywords: foreign language classroom anxiety, FLCA, international students, language anxiety

Procedia PDF Downloads 140

Authors: Dhafer Alqahtani

Abstract:

Total quality management (TQM) has become a widely accepted approach in the modern industry over recent years. There is a general consensus that by adopting TQM, the overall effectiveness and performance of an industry can be improved. It is also proved that as long as TQM is adopted fully and practiced effectively in the industry, potential benefits of TQM will be delivered. But despite the benefits of TQM as articulated by many quality gurus and academicians, these benefits are not achieved in practice. Many service industries have found it difficult to implement TQM successfully. This paper, therefore, explores the barriers to TQM’s successful implementation in construction firms. The aim is to identify and rank the barriers to successful TQM implementation in order to make them know and get a better understanding by the managers and practitioners of the Construction Industries. The research methodology adopted in this study was an extensive literature review on barriers to TQM implementation followed by a survey of selected construction firms using the self-administered instrument. The results also showed that only lack of effective communication and lack of top management support were not significantly associated with the level of implementation of TQM.

Keywords: total quality management, construction firms, barriers, successful implementation

Procedia PDF Downloads 100

Authors: Shuaibu Umar Abdul

Abstract:

This paper examines Nigeria’s foreign policy in the age of global terrorism. It worth saying that the threat of ‘terrorism’ is not peculiar to Western and Middle Eastern countries alone, its tentacles are now spreading all over, Africa inclusive. The issue of domestic terrorism in Nigeria has become pervasive since the return of democratic rule in 1999. This development has never been a witness in any form throughout the year of statehood in Nigeria, the issues of banditry, armed robbery, ritual killing, and criminal activities like kidnapping and pipeline vandalization, the breakdown of law and order, poorly managed infrastructural facilities and corruption remain synonymous to Nigeria. These acts of terrorism no doubt have constituted a challenge that necessitates the paradigm shift in Nigeria’s foreign policy. The study employed the conceptual framework of analysis to lead interrogation; secondary sources were used to generate data while descriptive and content analysis were considered for data presentation and interpretation. In view of the interrogation and discussion on the subject matter, the paper revealed that Nigerian government underrated and underestimated the strength of terrorism within and outside her policy hence, it becomes difficult to address. As a response to the findings and conclusion of the study, the paper recommends among others that Nigeria’s foreign policy has to be rethought, reshaped and remodeled in cognizance to the rising global terrorism for peace, growth and development in the country.

Keywords: foreign policy, globe, Nigeria, rethinking, terrorism

Procedia PDF Downloads 360

Authors: Shaden S. Attia

Abstract:

This study investigated foreign language anxiety (FLA) and teachers’ awareness of its presence in the Egyptian ESL classrooms and how FLA correlates with different variables such as four language skills, students' sex, and activities used in class. A combination of quantitative and qualitative instruments was used in order to investigate the previously mentioned variables, which included five interviews with teachers, six classroom observations, a survey for teachers, and a questionnaire for students. The findings of the study revealed that some teachers were aware of the presence of FLA, with some of them believing that other teachers, however, are not aware of this phenomenon, and even when they notice anxiety, they do not always relate it to learning a foreign language. The results also showed that FLA was affected by students’ sex, different language skills, and affective anxieties; however, teachers were unaware of the effect of these variables. The results demonstrated that both teachers and students preferred group and pair work to individual activities as they were more relaxing and less anxiety-provoking. These findings contribute to raising teachers' awareness of FLA in ESL classrooms and how it is affected by different variables.

Keywords: foreign language anxiety, situation specific anxiety, skill-specific anxiety, teachers’ perceptions

Procedia PDF Downloads 155

Authors: Lucian Vasile Bagiu, Paraschiva Bagiu

Abstract:

The study is a contrastive essay on language acquisition and learning and follows the outcomes of teaching Romanian language to foreign students both at Lund University, Sweden (from 2014 to 2017) and at '1 Decembrie 1918' University in Alba Iulia, Romania (2017-2018). Having employed the same teaching methodology (on campus, same curricula) for the same level of study (beginners’ level: A1-A2), the essay focuses on the written exam at the end of the semester. The study argues on grammar exercises concerned with: the indefinite and the definite article; the conjugation of verbs in the present indicative; the possessive; verbs in the past tense; the subjunctive; the degrees of comparison for adjectives. Identifying similar errors when solving identical grammar exercises by different groups of foreign students is an opportunity to emphasize the major challenges any foreigner has to face and overcome when trying to acquire Romanian language. The conclusion draws attention to the complexity of the morphology of Romanian language in several key elements which may be insurmountable for a foreign speaker no matter if the language acquisition takes place in a foreign country or a Romanian university.

Keywords: Arab students, morphological errors, Romanian language, Swedish students, written exam

Procedia PDF Downloads 260

Authors: George Ogono Muok, N. Obange, S. A. Odhiambo

Abstract:

Empirical literature on the determinants of foreign direct investments (FDI) flows is extensive but controversial over some determinants of FDI in-flows in developing countries. The objective of this study therefore was to investigate the overall determinants of FDI inflows in Kenya. Dynamic macroeconomic theory and correlational study design provided theoretical framework for specification of a time series model. The study used data observed from 1970 to 2015 in World Development Indicators (WDI) data bank. The results show that annual growth rate of GDP, inflation rates and external debt as a proportion of GDP are significant determinants of FDI inflows in Kenya and are therefore important macroeconomic parameters for policy formulation for promotion of FDI inflows in Kenya.

Keywords: determinants of foreign, direct, investment inflows in, Kenya, Africa

Procedia PDF Downloads 285

Authors: Reza Safari, Ali Rajabzadeh Ghatari, Raheleh Hossseinzadeh Mahabadi

Abstract:

In the present world, there are different pressures on firms such as competition, legislations, social etc. these pressures force the firms to follow “survival” as their primary goal and then growth. One of the main factors that helps firms to reach their goals is proper financial performance. To find out about the financial performance, a firm should monitors its financial performance. Financial performance affected by many factors. This research seeks to clear which financial performance indicators are most important according to Environmental situation of a firm and what are their priorities. To do so, environmental indicators specified as presented on OECD Key Environmental Indicators 2008 and so the financial performance indicators such as Profitability, Liquidity, Gearing, Investor ratios, and etc. At this stage, the affections questioned through questionnaires. After gaining the results, data analyzed using Promethee technique. By using decision matrixes extracted from those techniques an expert system designed. This expert system suggests the suitable financial performance indicators and their ranking by receiving the environment situation given environment indicators weight.

Keywords: environment indicators, financial performance indicators, promethee, expert system

Procedia PDF Downloads 443

Authors: Katie Hudson

Abstract:

A growing body of scholarship is dedicated to the concept of imperial nationalism, denoting a nostalgia for empire amongst former imperial powers and a yearning to recapture the grandeur of the imperial ‘golden age.’ Much research within this field has focused on Brexit, arguing that Britain’s imperialist identity has spawned Euroscepticism. However, the interaction between imperial nationalism and foreign policy remains underdeveloped and thus far has failed to consider cases outside of the UK. Using maximum variation sampling across post-2000 Britain, Spain and the Netherlands, this comparative analysis aims to explore the discursive invocation of empire in foreign policy framing, under which circumstances and in what ways imperial nationalism emerges. Preliminary findings demonstrate that empire is most often cited when there is a perceived threat to the sovereignty of the nation and that all cases frame foreign policy options according to their acute concerns with regaining the prestige associated with empire. This is present to a lesser extent in Spain, whose earlier period of decolonisation affected the extent to which imperialism has permeated their national psyche. This, therefore, provides an alternative lens through which we can view both Euroscepticism and international relations, conditioned by an imperial legacy.

Keywords: empire, nationalism, foreign policy, IR

Procedia PDF Downloads 95

Authors: Soumia Hebbri

Abstract:

English language has become a major medium for communication across borders. Nowadays, it is seen as a communicative medium not only for business but also for academic purposes. Some scientists describe English language as a way to enjoy an admired position in many countries. It is neither a national nor an official language in North Africa; it is considered as the most widely taught foreign language at the educational system. In order to achieve mastery of a foreign language, learners must develop the four principal language skills: Reading, writing, listening and speaking. However, being able to interact orally with others, using effectively the target language, is nowadays very important. People who cannot speak a foreign language cannot be considered effective language users, even if they can read and understand it. The teachers’ role in promoting foreign language acquisition is very important, as they are responsible for providing students appropriate contexts to foster communicative situations that allow students to express themselves and interact in the target language. So, we should understand the student’s reasons of their reluctance in oral participation when dealing with oral communicative tasks, in order to get insights about the possible motivating factors that may improve their involvement and participation in the classroom.

Keywords: EL, EFL, ET, TEFL, communication

Procedia PDF Downloads 504

Authors: Nana Weng

Abstract:

Localization in the aspect of human resource means more diversity and more opportunities. The main purpose of this article is to identify the perception of local employees and intermediate managers (non-Japanese) and figure out exploratory factors which have been contributing and blocking the level of localization in the aspect of human resource management by using EFA (Exploratory Factors Analysis). Questionnaires will be designed for local employees and managers to inquire about the perceptions of regulations and implementation regarding recruitment, training and development, promotion and rewarding. The study finds that Japanese firms have worked well in the process of localization, especially in hiring and training local staffs in Taiwan. The significance of this study lies in paying more attention to the perception of local employees and intermediate managers regarding localization rather than interviews results from Japanese expatriates or top HR managers who are in charging of localization policy-making.

Keywords: Japanese firms in Taiwan, localization of human resources, exploratory factors analysis, local employees and intermediate managers

Procedia PDF Downloads 313

Authors: Sevde D. Karayel, Ediz Atmaca

Abstract:

Supplier selection subject is vital because of development competitiveness and performance of firms which have right, rapid and with low cost procurement. Considering the fact that competition between firms is no longer on their supply chains, hence it is very clear that performance of the firms’ not only depend on their own success but also success of all departments in supply chain. For this purpose, firms want to work with suppliers which are cost effective, flexible in terms of demand and high quality level for customer satisfaction. However, diversification and redundancy of their expectations from suppliers, supplier selection problems need to be solved as a hard problem. In this study, supplier selection problem is discussed for critical piece, which is using almost all production of products in and has troubles with lead time from supplier, in a firm that produces medical devices. Analyzing policy in the current situation of the firm in the supplier selection indicates that supplier selection is made based on the purchasing department experience and other authorized persons’ general judgments. Because selection do not make based on the analytical methods, it is caused disruptions in production, lateness and extra cost. To solve the problem, AHP and TOPSIS which are multi-criteria decision making techniques, which are effective, easy to implement and can analyze many criteria simultaneously, are used to make a selection among alternative suppliers.

Keywords: AHP-TOPSIS methods, multi-criteria decision making, supplier selection problem, supply chain management

Procedia PDF Downloads 264

Authors: Khawla Hlel

Abstract:

Purpose: This study aims to examine whether critical audit matters (CAM) affect financial information quality. We also investigate the moderating role of the audit committee on the association between CAM and financial information quality. Design/Methodology/Approach: The analysis is based on GLS and GMM regressions explaining the absolute value of discretionary accruals by using 52 Tunisian listed firms on the Tunisia Stock Exchange (TSE) for the period 2017-2020. Findings: We find evidence that managers react to the CAM by increasing the quality of financial disclosures. This study provides insights into how a change in the auditor’s report model might impact the quality of financial information. It suggests that external auditors and audit committees serve as a beneficial mechanism for enhancing financial information quality by reducing information asymmetry. In addition, our results indicate that CAM is an efficient monitoring mechanism that increases financial reporting quality and supervises managers. Originality: This study is important for potential investors who should assess CAM when evaluating firms. Furthermore, the authors expect the findings to be interesting to firms, as this study highlights the effectiveness of the auditor in reducing managerial opportunistic behavior and improving information quality. The results could encourage audit regulators to ameliorate the standards, as this research reinforces the role of the auditor in increasing the quality of financial disclosure by offering the required information for shareholders.

Keywords: critical audit matters, audit committee, information quality, Tunisian firms

Procedia PDF Downloads 86

Authors: Baikunthanath Sahoo, Santosh Kumar Sahu, Krishna Malakar

Abstract:

With the essence of global environmental sustainability and green business management, the wind of business research moved towards Corporate Social Responsibility. In addition to international and national treaties, businesses have also started realising environmental protection and energy efficiency through CSR as part of business strategy in response to climate change. Considering the ambitious emission reduction target and rapid economic development of India, this study is an attempt to explore the effect of CSR on the energy efficiency management of manufacturing firms in India. By using firm-level data, the panel fixed effect model shows that the CSR dummy variable is negatively influencing the energy intensity or technically, they are energy efficient. The result demonstrates that in the presence of CSR, all the production economic variables are significant. The result also shows that doing environmental expenditure does not improve energy efficiency might be because very few firms are motivated to do such expenditure and also not common to all sectors. The interactive effect model result conforms that without considering CSR dummy as an intervening variable only Manufacturers of Chemical and Chemical products, Manufacturers of Pharmaceutical, medical chemical, and botanical products firms energy intensity low but after considering CSR in their business practices all six sub-sector firms become energy efficient. The empirical result also validate that firms are continuously engaged in CSR activities they are highly energy efficient. It is an important motivational factor for firms to become economically and environmentally sustainable in the corporate world. This analysis would help business practitioners to know how to manage today’s profitability and tomorrow’s sustainability to achieve a comparative advantage in the emerging market economy. The paper concludes that reducing energy consumption as part of their social responsibility to care for the environment, will need collaborative efforts of business society and policy bodies.

Keywords: CSR, Energy Efficiency, Indian manufacturing Sector, Business strategy

Procedia PDF Downloads 85

Authors: Iraj Musa Dawaari

Abstract:

Australia and Singapore signed the Comprehensive Strategic Partnership (CSP) agreement on 29th June 2015. This agreement aims to strengthen security, defense, diplomatic, economic, education, and innovation cooperation, as well as people-to-people relations between the two states. The purpose of this study is to examine rationales underpinning the (2015 CSP) agreement in order to better understand the national and foreign policy priorities of both Australia and Singapore in the period leading up to the signing of the agreement and in the period since. This research project will seek to establish how both countries’ national and foreign policy priorities have developed in recent years in the light of growing tensions between China and the US in the Indo-Pacific region and how the CSP agreement has influenced these priorities. This project also seeks to better understand and analyse why both states signed the CSP agreement in 2015.

Keywords: Australia, Singapore, foreign policy, partnership, USA, China, Indo-Pacific Region

Procedia PDF Downloads 140

Authors: Ilham Benali, Nasser Hajji, Nawfel Acha

Abstract:

The pharmaceutical sector is ongoing different constraints related to the Research and Development (R&D) costs, the patents extinction, the demand pressing, the regulatory requirement and the generics development, which drive leading firms in the sector to undergo technological change and to shift to biotechnological paradigm. Based on a large literature review, we present a background of innovation trajectory in pharmaceutical industry and reasons behind this technological transformation. Then we investigate the role that Information and Communication Technology (ICT) is playing in this revolution. In order to situate pharmaceutical firms in developing countries in this trajectory, and to examine the degree of their involvement in the innovation process, we did not find any previous empirical work or sources generating gathered data that allow us to analyze this phenomenon. Therefore, and for the case of Morocco, we tried to do it from scratch by gathering relevant data of the last five years from different sources. As a result, only about 4% of all innovative drugs that have access to the local market in the mentioned period are made locally which substantiates that the industrial model in pharmaceutical sector in developing countries is based on the 'license model'. Finally, we present another alternative, based on ICT use and big data tools that can allow developing countries to shift from status of simple consumers to active actors in the innovation process.

Keywords: biotechnologies, developing countries, innovation, information and communication technology, pharmaceutical firms

Procedia PDF Downloads 151

Authors: Mehtab Alam, Mudiarasan Kuppusamy

Abstract:

Image branding is the prominent and well-guided phenomena of managing tourism destinations. It examines the image of cities forming as brand identity. Transformation of cities into tourist destinations is obligatory for the current management practices to be used for foreign policy. The research considers the features of perception, destination accommodation, destination quality, traveler revisit, destination information system, and behavioral image for tourism destination management. Using the quantitative and qualitative research methodology, the objective is to examine and investigate the opportunities for destination branding. It investigates the features and management of tourism destinations in Abbottabad city of Pakistan through SPSS and NVivo 12 software. The prospective outlook of the results and coding reflects the significant contribution of integrated destination management for image branding, where Abbottabad has the potential to become a destination city. The positive impact of branding integrates tourism management as it is fulfilling travelers’ requirements to influence the choice of destination for innovative foreign policy.

Keywords: image branding, destination management, tourism, foreign policy, innovative

Procedia PDF Downloads 96

Authors: M. C. Theong, F. L. Ang, G. J. Muga

Abstract:

Growth of firms is influenced by environmental changes such as the global and national economy. On the other hand, it indicates the economic situation of a country. Therefore, it is imperative for firms to be sensitive to changes and to stay competitive and remain compatible with the environment. The Malaysian construction industry is prone to environmental changes due to its complexity. In order to survive in the construction industry, focus on the development of the firms themselves to achieve long term their long term goals is vital besides maximizing profits. The objective of this paper is to measure growth of the public listed construction companies in Malaysia and to investigate the development of the companies with highest, moderate and lowest growth. Growth is measured based on the companies' sales between year 2008 and 2012 collected via secondary data collection method. Findings show that the highest average growth created is 235.20 % while the lowest average growth is -22.75%. The construction companies remained active in the construction industry by implementing different sets of strategies and involving in several types of construction projects.

Keywords: growth, Malaysian construction industry, public listed companies, sales

Procedia PDF Downloads 384

Authors: Wissal Ben Arfi, Jean-Michel Sahut

Abstract:

The purpose of this paper is to provide a deeper understanding of the succession process from a knowledge management perspective. By doing that, succession process in family businesses, as an environment for creating and sharing knowledge, was explored. Design/Methodology/Approach: To support our reasoning, we collected qualitative data through 16 in-depth interviews conducted with all decision makers involved in the family businesses succession process in France. These open-ended responses were subsequently exposed to thematic discourse analysis. Findings: Central to this exhibit is the nature and magnitude of knowledge creation and sharing among the actors within the family succession context and how can tacit knowledge sharing facilitate the succession process. We also identified factors that inhibit down the knowledge creation and sharing processes. The sharing and creation of knowledge among members of a family business appear to be a complex process that must be part of a strategy for change. This implies that it requests trust and takes a certain amount of time because it requires organizational change and a clear and coherent strategic vision that is accepted and assimilated by all the members. Professional and leadership skills are of particular importance in knowledge sharing and creation processes. In most cases, tacit knowledge is crucial when it is shared and accumulated collectively. Our findings reveal that managers should find ways of implementing knowledge sharing and creation processes while acknowledging the succession process within family firms. This study highlights the importance of generating knowledge strategies in order to enhance the performance and the success of intergenerational succession. The empirical outcomes contribute to enrich the field of succession management process and enhance the role of knowledge in shaping family performance and longevity. To a large extent, the lessons learned from the study of succession processes in family-owned businesses are that when there is a deliberate effort to introduce a knowledge-based approach, this action becomes a seminal event in the life of the organization. Originality/Value: The paper contributes to the deep understanding of interactions among actors by examining the knowledge creation and sharing processes since current researches in family succession focused on aspects such as personal development of potential, intra-family succession intention, decision-making processes in family businesses. Besides, as succession is one of the key factors that determine the longevity and the performance of family businesses, it also contributes to literature by examining how tacit knowledge is transferred, shared and created in family businesses and how this can facilitate the intergenerational succession process.

Keywords: family-owned businesses, succession process, knowledge, performance

Procedia PDF Downloads 209

Authors: Biraj Puri, Bikram Puri

Abstract:

Arbitration is one of the prompt and efficient methods of alternative dispute resolution, especially of a commercial nature, by a neutral arbitrator outside the formal court structure. Due to the globalization of trade, privatization, and global investment, recognition and enforcement of foreign arbitral awards attract prime concern. Arbitral awards are generally based on arguments and evidence presented by disputing parties. The foreign investor wants to secure the investment by appropriate legal measures and an amicable way of dispute settlement if it arises. Now, arbitration as a mechanism of commercial dispute settlement has gained international recognition. It can take place in any State, in any language and with arbitrators of any nationality. There are various international institutions to conduct arbitral proceedings and render awards. Once an arbitral award is delivered, it can be enforced as a court judgment. However, it is really challenging to execute foreign arbitral awards in Nepal. Any party willing to execute an award made in a foreign country in Nepal should submit an application to the High Court along with essential documents prescribed by domestic law (The Arbitration Act 1999). Arbitrarily and public policy are also the requirements regarding the recognition and enforcement of foreign arbitral awards in Nepal. Nepal is a signatory State to the New York Convention on Recognition and Enforcement of Foreign Arbitral Awards, 1958. It is crucial to acknowledge that Nepal has liberalized its economy as well as opened the door for a liberal and market-oriented economy through the Constitution of Nepal, 2015. Nepal is trying to expand business from local to global level. Commercial trade is expanding day by day. So in this context, acceptance of arbitration as an alternative means to solve commercial disputes is a matter of prime importance. India ratified the New York Convention, and also being a neighborhood country of Nepal, in practice, does not enforce arbitral awards provided by Nepal in the name of reservation. India has published a gazette notice in which it lists the countries in which the award will be recognized in India, but it does not include Nepal. As the largest trade partner of Nepal, India should rethink this in order to make trade smooth.

Keywords: commercial arbitration, foreign arbitral awards, recognition and enforcement of foreign arbitral awards, requirements

Procedia PDF Downloads 5

Authors: Ahmed H. Elkholy

Abstract:

Aircraft gas turbine engines are subject to damage by airborne foreign objects such as birds and garbage dumps. In order to assess their effect on engine performance, a complete foreign object damage (FOD) test was carried out and a component failure analysis was used to verify airworthiness standards (AWS) requirements for engine certification as set by international regulations. Ingestion damage due to 1.8 Kg (4 lb.) bird strike on an engine is presented in some detail. Based on the observed damage, improvements to the engine design were suggested in two different locations: the front bearing housing and the low compressor shaft. When these improvements were implemented, the engine showed an acceptable containment capability that meets AWS requirements.

Keywords: aircraft engine, airworthiness standards, bird ingestion, foreign object damage

Procedia PDF Downloads 422

Authors: Tanapond S.

Abstract:

Typically, most of the controlling firms are relate to family firms which are widespread and important for economic growth particularly in Asian Pacific region. The unique characteristics of the controlling families tend to play an important role in determining the corporate policies such as dividend policy. Given the complexity of the family business phenomenon, the empirical evidence has been unclear on how the families behind business groups influence dividend policy in Asian markets with the prevalent existence of cross-shareholdings and pyramidal structure. Dividend policy as one of an important determinant of firm value could also be implemented in order to examine the effect of the controlling families behind business groups on strategic decisions-making in terms of a governance perspective and agency problems. The purpose of this paper is to investigate the impact of ownership structure and concentration which are influential internal corporate governance mechanisms in family firms on dividend decision-making. Using panel data and constructing a unique dataset of family ownership and control through hand-collecting information from the nonfinancial companies listed in Stock Exchange of Thailand (SET) between 2000 and 2015, the study finds that family firms with large stakes distribute higher dividends than family firms with small stakes. Family ownership can mitigate the agency problems and the expropriation of minority investors in family firms. To provide insight into the distinguish between ownership rights and control rights, this study examines specific firm characteristics including the degrees of concentration of controlling shareholders by classifying family ownership in different categories. The results show that controlling families with large deviation between voting rights and cash flow rights have more power and affect lower dividend payment. These situations become worse when second blockholders are families. To the best knowledge of the researcher, this study is the first to examine the association between family firms’ characteristics and dividend policy from the corporate governance perspectives in Thailand with weak investor protection environment and high ownership concentration. This research also underscores the importance of family control especially in a context in which family business groups and pyramidal structure are prevalent. As a result, academics and policy makers can develop markets and corporate policies to eliminate agency problem.

Keywords: agency theory, dividend policy, family control, Thailand

Procedia PDF Downloads 292

Authors: Shuaibu Umar Abdul

Abstract:

The essence of any state as well as government is to ensure and advance the security of lives and property of its citizens. As a result, providing security in all spheres ranging from safeguarding the territorial integrity, security of lives and property of the citizens as well as economic emancipation have constitute the core objectives cum national interest of virtually all country’s foreign policy in the world. In view of this imperative above, Nigeria has enshrined in the early part of her 1999 constitution as amended, as its duty and responsibility as a state, to ensure security of lives and property of its citizens. Yet, it does not make any significant shift as it relates to the country’s fundamental security needs as exemplified by the current enormous security challenges that reduced the country’s fortune to the background in all ramifications. The study chooses realist paradigm as theoretical underpinning which emphasizes that exigency of the moment should always take priority in the pursuit of foreign policy. The study is historical, descriptive and narrative in method and character. Data for the study was sourced from secondary sources and analysed via content analysis. The study found out that it is lack of political will on the side of the government to guarantee a just and egalitarian society that will be of benefit to all citizens. This could be more appreciated when looking at the gaps between the theory in Nigerian foreign policy and the practice as exemplified by the action or inaction of the government to ensure security in the state. On this account, the study recommends that until the leaderships in Nigerian foreign policy recognized the need for political will and respect for constitutionalism to ensure security of its citizens and territory, otherwise achieving great Nigeria will remain an illusion.

Keywords: foreign policy, nation, national security, Nigeria, security

Procedia PDF Downloads 517

Authors: Amit Zriker, Anat Freund

Abstract:

The aim of the study was to conduct a thorough examination into the multiple complexities of bringing a foreign caregiver into the home to care for older adults in the Haredi society, by relating to the perspectives of the older adult and his family members. Research questions were: What is the meaning of bringing a foreign caregiver into the home in Haredi society, from the point of view of the older adult’s family members, and what are the implications of these meanings in the context of developing social policies and interventions? The current study was a qualitative-phenomenological study, which relates to “the lived experience” of those involved in the studied phenomenon. In the framework of the study, the participants included 15 adult Haredi sons and daughters of elderly impaired parents who receive homecare from a foreign caregiver. Data collection was carried out using in-depth, semi-structured interviews; the interview guidelines are comprised of the following content worlds: the meanings of aging in Haredi families; the decision-making process in relation to providing home care assistance for elderly impaired parents; making decisions regarding bringing a foreign caregiver into the home to care for an elderly parent; the daily routine after bringing in a foreign caregiver; bringing in a foreign caregiver vs. the society and vs. the Haredi establishment; and more. The issue of bringing a foreign caregiver into the home in the context of a faith-based society has received only scant and partial research attention to date. Nevertheless, in light of the growing elderly population in the Haredi society in Israel, and in closed, faith-based societies, in general; there is a growing need to bring foreign caregivers into the home as a possible solution to the “aging-in-place” problem in these societies. The separatist nature, and the collectivist and faith-based lifestyle of the Haredi society present unique challenges and needs in the process of employing a foreign caregiver. Moreover, the foreign caregiver also brings his/her own cultural world to the encounter, meaning, this process involves the elderly impaired individual, his/her family members, as well as the foreign caregiver. Therefore, it is important to understand their attitudes, perceptions and interactions, in order to create a good fit among all involved parties. The innovation and uniqueness of the current study is in its in-depth exploration of a phenomenon through an emotional-cultural lens. The study findings also contribute to the creation of social policy in the field of nursing, which will be adapted and culturally sensitive to Haredi society, and other faith-based societies.

Keywords: culturally-sensitive intervention, faith-based society, foreign caregiver, Haredi society

Procedia PDF Downloads 197

Authors: Mohammad Hadi Mahmoodi, Azam Ghonchepoor, Sheilan Sohrabi

Abstract:

The present study was conducted to investigate the effect of foreign language classroom anxiety and ambiguity tolerance on EFL Learners’ listening proficiency. In so doing, 442 EFL learners were randomly selected form Azad University and some accredited language institutions in Hamaden, and were given the Foreign Language Classroom Anxiety Scale (FLCAS) (1983), and Second Language Tolerance of Ambiguity Scale (SLTAS) (1995). Participants’ listening proficiency level was determined through listening scores gained in standardized exams given by university professors or institutes in which they studied English. The results of two-way ANOVA revealed that listening proficiency was significantly affected by the interaction of anxiety and AT level of the participants. Each of the two variables were categorized in three levels of High, Mid, and Low. The highest mean score of listening belonged to the group with low degree of anxiety and high degree of ambiguity tolerance, and the lowest listening mean score was gained by the group with high level of anxiety and low level of tolerance of ambiguity. Also, the findings of multiple regressions confirmed that anxiety was the stronger predictor of listening comprehension in contrast with tolerance of ambiguity. Furthermore, the result of Pearson correlation coefficient showed that there was a significant negative relationship between the participants’ foreign language classroom anxiety and their ambiguity tolerance level.

Keywords: Foreign Language Classroom Anxiety, Second language tolerance of ambiguity, Listening proficiency

Procedia PDF Downloads 510

Authors: Shuofen Hsu, Ya-Yi Chao, Chao-Wei Li

Abstract:

This paper investigates the factors of whether firms’ quarterly consolidated financial statements to be voluntary reviewed by auditor. To promote the information transparency, the Financial Supervisory Commission of Executive Yuan in Taiwan ruled the Taiwanese listed companies should announce the first and third quarterly consolidated financial statements since 2008 to 2012, while the Commission didn’t require the consolidated financial statements should be reviewed by auditors. This is a very special practice in emerging market, especially in Taiwan. The valuable data of this period is suitable for us to research the determinants of firms’ voluntary review decision in emerging markets. We collected the auditors' report of each company and each year of Taiwanese listed companies since 2008 to 2012 for our research samples. We use probit model to test and analyze the determinants of voluntary review decision of the first and third quarterly consolidated financial statements. Our empirical result shows that the firms whose first and third quarterly consolidated financial statements are voluntary to be reviewed by auditors have better ranking of information transparency, higher audit quality, and better corporate governance, suggesting that voluntary review is a good signal to firms’ better information and corporate governance quality.

Keywords: voluntary review, information transparency, audit quality, quarterly consolidated financial statements

Procedia PDF Downloads 254

Authors: Anne Kariuki, Kellen Kiambati

Abstract:

The broad objective of this study was to establish the mediating effect of media visibility on the relationship between corporate Social Responsibility (CSR) and the corporate performance of firms listed on the Nairobi Securities Exchange. The review of the literature provided conceptual and empirical gaps that formed the basis of the conceptual hypotheses. A survey questionnaire was distributed to the 50 heads of human resource departments in the different firms. A survey was conducted on fifty (50) companies listed on the Nairobi Securities Exchange. The study findings reported a significant relationship between CSR and non-financial performance and the mediating role of media visibility on the relationship between CSR and performance. The findings of the study support the signaling theory and stakeholder’s theory. Conclusively, CSR activities have an effect on media visibility, which in turn affects performance.

Keywords: corporate social responsibility, media visibility, corporate performance, non-financial performance

Procedia PDF Downloads 52

Authors: Paulina Pietrzyk-Kowalec

Abstract:

This paper presents the phenomenon of multilingualism becoming the norm rather than the exception in the European Union. It also seeks to describe the correlation between the command of foreign languages and employability. It is evident that the challenges of today's societies when it comes to employability and to the reality of the current labor market are more and more diversified. Thus, it is one of the crucial tasks of higher education to prepare its students to face this kind of complexity, understand its nuances, and have the capacity to adapt effectively to situations that are common in corporations based in the countries belonging to the EU. From this point of view, the assessment of the impact that the command of foreign languages of European university students could have on the numerous business sectors becomes vital. It also involves raising awareness of future professionals to make them understand the importance of mastering communicative skills in foreign languages that will meet the requirements of students' prospective employers. The direct connection between higher education institutions and the world of business also allows companies to realize that they should rethink their recruitment and human resources procedures in order to take into account the importance of foreign languages. This article focuses on the objective of the multilingualism policy developed by the European Commission, which is to enable young people to master at least two foreign languages, which is crucial in their future careers. The article puts emphasis on the existence of a crucial connection between the research conducted in higher education institutions and the business sector in order to reduce current qualification gaps.

Keywords: cross-cultural communication, employability, human resources, language attitudes, multilingualism

Procedia PDF Downloads 135

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

Abstract:

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

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

Procedia PDF Downloads 470

Authors: Debdatta Mukherjee, Abhiman Das, Amit Garg

Abstract:

In recent years, there is a growing interest about corporate social responsibility of firms in both academic literature and business world. Since business forms a part of society incorporating socio-environment concerns into its value chain, activities are vital for ensuring mutual sustainability and prosperity. But, until now most of the works have been either descriptive or normative rather than positivist in tone. Even the few ones with a positivist approach have mostly studied the link between corporate financial performance and corporate social performance. However, these studies have been severely criticized by many eminent authors on grounds that they lack a theoretical basis for their findings. They have also argued that apart from corporate financial performance, there must be certain other crucial influences that are likely to determine corporate social performance of firms. In fact, several studies have indicated that firms operating in distinct national institutions show significant variations in the corporate social responsibility practices that they undertake. This clearly suggests that the institutional context of a country in which the firms operate is a key determinant of corporate social performance of firms. Therefore, this paper uses an institutional framework to understand why corporate social performance of firms vary across countries. It examines the impact of country level institutions on corporate social performance using a sample of 3240 global publicly-held firms across 33 countries covering the period 2010-2015. The country level institutions include public institutions, private institutions, markets and capacity to innovate. Econometric Analysis has been mainly used to assess this impact. A three way panel data analysis using fixed effects has been used to test and validate appropriate hypotheses. Most of the empirical findings confirm our hypotheses and the economic significance indicates the specific impact of each variable and their importance relative to others. The results suggest that institutional determinants like ethical behavior of private institutions, goods market, labor market and innovation capacity of a country are significantly related to the corporate social performance of firms. Based on our findings, few implications for policy makers from across the world have also been suggested. The institutions in a country should promote competition. The government should use policy levers for upgrading home demands, like setting challenging yet flexible safety, quality and environment standards, and framing policies governing buyer information, providing innovative recourses to low quality goods and services and promoting early adoption of new and technologically advanced products. Moreover, the institution building in a country should be such that they facilitate and improve the capacity of firms to innovate. Therefore, the proposed study argues that country level institutions impact corporate social performance of firms, empirically validates the same, suggest policy implications and attempts to contribute to an extended understanding of corporate social responsibility and corporate social performance in a multinational context.

Keywords: corporate social performance, corporate social responsibility, institutions, markets

Procedia PDF Downloads 167