Search results for: Labor Market

Authors: Vanessa de Cillos Silva, Fabrício José Piacente, Sônia Maria De Stefano Piedade, Valter Arthur

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The increasing concern in relation to safety and hygiene of food consumption makes it so that food conservation is studied. Food radiation is a technique used for conservation, but many consumers associate this technique with dangers such as environmental contamination and development of diseases. This research had the objective of evaluating the acceptance of radiated products by the consumer market in the city of Piracicaba/SP-Brasil. The methodology adopted was the application of a questionnaire in the city’s supermarkets. After the application, the data was tabulated and analyzed. It was observed that the majority of interviewees would not eat irradiated food. The unfamiliarity and questions about the safety of irradiated food were the main causes of your rejection.

Keywords: irradiation, questionnaire, storage, market acceptance

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

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

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

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Authors: Marie Boost

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Despite activation policies, forced personal initiative to step out of unemployment and a general prosper economic situation, poverty and financial hardship constitute a crucial role in the daily lives of many families in Germany. In 2015, ~16 million persons (20.2%) of the German population are at risk of poverty or social exclusion. This is illustrated by an unemployment rate of 13.3% in the research area, located in East Germany. Despite this high amount of persons living in vulnerable households, we know little about how they manage to stabilize their lives or even overcome poverty – apart from solely relying on welfare state benefits or entering in a stable, well-paid job. Most of them are struggling in precarious living circumstances, switching from one or several short-term, low-paid jobs into self-employment or unemployment, sometimes accompanied by welfare state benefits. Hence, insecurity and uncertain future expectation form a crucial part of their lives. Within the EU-funded project “RESCuE”, resilient practices of vulnerable households were investigated in nine European countries. Approximately, 15 expert interviews with policy makers, representatives from welfare state agencies, NGOs and charity organizations and 25 household interviews have been conducted within each country. It aims to find out more about the chances and conditions of social resilience. The research is based on the triangulation of biographical narrative interviews, followed by participatory photo interviews, asking the household members to portray their typical everyday life. The presentation is focusing on the explanatory strength of this mixed-methods approach in order to show the potential of household practices to overcome financial hardship. The methodological combination allows an in-depth analysis of the families and households everyday living circumstances, including their poverty and employment situation, whether formal and informal. Active household budgeting practices, such as saving and consumption practices are based on subsistence or Do-It-Yourself work. Especially due to the photo-interviews, the importance of inherent cultural and tacit knowledge becomes obvious as it pictures their typical practices, like cultivation and gathering fruits and vegetables or going fishing. One of the central findings is the multiple purposes of these practices. They contribute to ease financial burden through consumption reduction and strengthen social ties, as they are mostly conducted with close friends or family members. In general, non-commodified practices are found to be re-commodified and to contribute to ease financial hardship, e.g. by the use of commons, barter trade or simple mutual exchange (gift exchange). These practices can substitute external purchases and reduce expenses or even generate a small income. Mixing different income sources are found to be the most likely way out of poverty within the context of a precarious labor market. But these resilient household practices take its toll as they are highly preconditioned, and many persons put themselves into risk of overstressing themselves. Thus, the potentials and risks of resilient household practices are reflected in the presentation.

Keywords: consumption practices, labor market, qualitative research, resilience

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Authors: Nebojša Janićijević

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The paper presents the results of a study on work-related values of Generation Z, comprised of young people born between the late 1990s and 2010. Following Millennials, Generation Z is the first generation of digital natives. This is the reason, along with some other circumstances that accompanied them during their growing up, why Generation Z has somewhat different work-related values than previous generations. Since they are just beginning to enter the labor market and will be the majority of the workforce in the next decade or two, it is very important and useful for their employers to understand what Generation Z values when it comes to work. The study was conducted by surveying the students of the Faculty of Economics, University of Belgrade, Serbia, during 2022 and 2023. The research results show that Generation Z values safety, achievement, and status the most in the workplace. From the individual perspective, future employees consider it most important that their job provides good working conditions, recognition for the work performed, and the possibility of achievement. It is noticeable that Generation Z students, to a significant extent, expect to be protected and safe at work in the future, both in terms of the job itself and in terms of social relations. According to the research findings, Generation Z is relatively homogeneous, and no significant differences in work-related values were found among them, except by gender.

Keywords: generation Z, work related values, students, Serbia

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Authors: Nyoman Wijana, Chandra Arha

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Disclosures of Intellectual Capital (IC) is a presentation of corporate information assets that are not recorded in the financial statements. This disclosures is very helpful because it provides inform corporate assets are intangible. In the new economic era, the company's intangible assets will determine company's competitive advantage. This study aimed to examine the effect of IC disclosures on market capitalization growth. Observational studies conducted over ten years in 2002-2011. The purpose of this study was to determine the effect for last ten years. One hundred samples of the company's largest market capitalization in 2011 traced back to last ten years. Data that used, are in 2011, 2008, 2005, and 2002 Method that’s used for acquiring the data is content analysis. The analytical method used is Ordinanary Least Square (OLS) and analysis tools are e views 7 This software using Pooled Least Square estimation parameters are specifically designed for panel data. The results of testing analysis showed inconsistent expression levels affect the growth of the market capitalization in each year of observation. The results of this study are expected to motivate the public company in Indonesia to do more voluntary IC disclosures and encourage regulators to make regulations in a comprehensive manner so that all categories of the IC must be disclosed by the company.

Keywords: IC disclosures, market capitalization growth, analytical method, OLS

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Authors: Tamanna Rimi

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A large body of literature has discussed the determinants of migration decision. However, the potential role of individual risk attitudes on migration decision has so far been overlooked. The research on migration literature has studied how the expected income differential influences migration flows for a risk neutral individual. However, migration takes place when there is no expected income differential or even the variability of income appears as lower than in the current location. This migration puzzle motivates a recent trend in the literature that analyzes how attitudes towards risk influence the decision to migrate. However, the significance of risk attitudes on migration decision has been addressed mostly in a theoretical perspective in the mainstream migration literature. The efficient outcome of labor market and overall economy are largely influenced by migration in many countries. Therefore, attitudes towards risk as a determinant of migration should get more attention in empirical studies. To author’s best knowledge, this is the first study that has examined the relationship between relative risk aversion and migration decision in US market. This paper considers movement across United States as a means of migration. In addition, this paper also explores the network effect due to the increasing size of one’s own ethnic group to a source location on the migration decision and how attitudes towards risk vary with network effect. Two ethnic groups (i.e. Asian and Hispanic) have been considered in this regard. For the empirical estimation, this paper uses two sources of data: 1) U.S. census data for social, economic, and health research, 2010 (IPUMPS) and 2) University of Michigan Health and Retirement Study, 2010 (HRS). In order to measure relative risk aversion, this study uses the ‘Two Sample Two-Stage Instrumental Variable (TS2SIV)’ technique. This is a similar method of Angrist (1990) and Angrist and Kruegers’ (1992) ‘Two Sample Instrumental Variable (TSIV)’ technique. Using a probit model, the empirical investigation yields the following results: (i) risk attitude has a significantly large impact on migration decision where more risk averse people are less likely to migrate; (ii) the impact of risk attitude on migration varies by other demographic characteristics such as age and sex; (iii) people with higher concentration of same ethnic households living in a particular place are expected to migrate less from their current place; (iv) the risk attitudes on migration vary with network effect. The overall findings of this paper relating risk attitude, migration decision and network effect can be a significant contribution addressing the gap between migration theory and empirical study in migration literature.

Keywords: migration, network effect, risk attitude, U.S. market

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Authors: Anna M. Pretorius

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The emerging markets category for portfolio investment was introduced in 1986 in an attempt to promote capital market development in less developed countries. Investors traditionally diversified their portfolios by investing in different developed markets. However, high growth opportunities forced investors to consider emerging markets as well. Examples include the rapid growth of the “Asian Tigers” during the 1980s, growth in Latin America during the 1990s and the increased interest in emerging markets during the global financial crisis. As such, portfolio flows to emerging markets have increased substantially. In 2002 7% of all equity allocations from advanced economies went to emerging markets; this increased to 20% in 2012. The stronger links between advanced and emerging markets led to increased synchronization of asset price movements. This increased level of stock market integration for emerging markets is confirmed by various empirical studies. Against the background of increased interest in emerging market assets and the increasing level of integration of emerging markets, this paper focuses on the determinants of stock market integration of emerging market countries. Various studies have linked the level of financial market integration with specific economic variables. These variables include: economic growth, local inflation, trade openness, local investment, budget surplus/ deficit, market capitalization, domestic bank credit, domestic institutional and legal environment and world interest rates. The aim of this study is to empirically investigate to what extent trade-related determinants have an impact on stock market integration. The panel data sample include data of 16 emerging market countries: Brazil, Chile, China, Colombia, Czech Republic, Hungary, India, Malaysia, Pakistan, Peru, Philippines, Poland, Russian Federation, South Africa, Thailand and Turkey for the period 1998-2011. The integration variable for each emerging stock market is calculated as the explanatory power of a multi-factor model. These factors are extracted from a large panel of global stock market returns. Trade related explanatory variables include: exports as percentage of GDP, imports as percentage of GDP and total trade as percentage of GDP. Other macroeconomic indicators – such as market capitalisation, the size of the budget deficit and the effectiveness of the regulation of the securities exchange – are included in the regressions as control variables. An initial analysis on a sample of developed stock markets could not identify any significant determinants of stock market integration. Thus the macroeconomic variables identified in the literature are much more significant in explaining stock market integration of emerging markets than stock market integration of developed markets. The three trade variables are all statistically significant at a 5% level. The market capitalisation variable is also significant while the regulation variable is only marginally significant. The global financial crisis has highlighted the urgency to better understand the link between the financial and real sectors of the economy. This paper comes to the important finding that, apart from the level of market capitalisation (as financial indicator), trade (representative of the real economy) is a significant determinant of stock market integration of countries not yet classified as developed economies.

Keywords: emerging markets, financial market integration, panel data, trade

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Authors: Blen Telayneh Melese

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Rural development, the unending quest of a developing country, cannot be succeeded in deprived of human capital development. Human capital, the economic pillars of a country's development, appeals a policy-based supports while fulfilling what is expected. Ethiopia, one of the rural countries with untouched and forgotten land and human force, owes historical experiences of educational policy intending for mobilization of its citizen for the advancement of the overall economy. Rural Ethiopia as well has been the focus of those educational policies, considering the economic resources entrenched with in. In this literature review paper, Ethiopian educational policy and its contribution to human capital development, as well as its role in generating quality human labor force, is assessed concisely. The author argues that the foundation of rural development such as technology, knowledge, infrastructure, market chain, communication and etc., can only be achieved through enhanced education policy that conciliates the existing reality of rural communities. Ethiopia still needs an education policy that enables it to generate a human capital that is oriented with the rural areas economic opportunities and challenges.

Keywords: Ethiopia, rural development, human capital development, education policy

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Authors: Johann Valentowitsch, Wolfgang Burr

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In organizational research, strategies of exploration and exploitation are often considered to be contradictory. Building on the tradeoff argument, many authors have assumed that a company's market performance should be positively dependent on its strategic balance between exploration and exploitation over time. In this study, we apply this reasoning to the pharmaceutical industry. Using exploratory regression analysis we show that the long-term market performance of a pharmaceutical company is linked to both its ability to carry out exploratory projects and its ability to develop exploitative competencies. In particular, our findings demonstrate that, on average, the company's annual sales performance is higher the better the strategic alignment between exploration and exploitation is balanced. The contribution of our research is twofold. On the one hand, we provide empirical evidence for the initial tradeoff hypothesis and thus support the theoretical position of those who understand exploration and exploitation as strategic substitutes. On the other hand, our findings show that a balanced relationship between exploration and exploitation is also important in research-intensive industries, which naturally tend to place more emphasis on exploration.

Keywords: exploitation, exploration, market performance, pharmaceutical industry, strategy

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Authors: LaShawnda N. Fields, Valandra

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As part of a larger study, this particular line of inquiry focuses on experiences of tokenism and invisible labor expected of Black women within social work education. Black women faculty members and doctoral students participated in semi-formal, in-depth interviews. All participants were identified as members of schools of social work within Carnegie-designated R-1 institutions. Several participants believed that their race independently and the intersection of their race and gender was often misrepresented by their institution as an indication of a diverse and equitable environment. These women believed they were often solicited to participate in visual materials and make public appearances to benefit the school while feeling invisible. Most of the Black women interviewed, whether faculty members or doctoral students, were the sole Black person or one of very few Black women at these schools of social work. Similarly, the Black doctoral students spoke of being “paraded around” as a prized show horse while enduring a toxic culture that lacks inclusion. These women expressed frustration and disappointment as their images and scholarship were featured on websites and within marketing materials, not the pride and joy such exposure should elicit. These experiences of tokenism were taking place while the women constantly received messages of not being good enough or not a good fit at their institution. Invisible labor refers to work that is not compensated nor formally recognized. This labor is primarily committee work and student support. Representation of Black women faculty members is limited at these research-intensive schools of social work resulting in these women being sought out by students across disciplines. Similarly, the Black women doctoral students are informally recruited as peer mentors to support those students rising in the ranks behind them. Though this work is rooted in retention efforts, it is never identified as such. All participants identified committee work related to their identities as another way they find themselves engaged in work that often goes unrecognized and underappreciated. Committee work is usually tied to identity work, such as diversity, equity, and inclusion though it rarely translates to action and improvements. This qualitative study provides insight into the lived experiences of an at-risk and under-represented demographic. Institutions can better understand how they can support this demographic. These Black women scholars have been invited into these institutions but have not historically been granted full access. These women have survived unsavory conditions through sheer determination and support found mostly outside their schools of social work. Utilizing this data as a springboard for informed and action-oriented strategic planning would allow institutions to create inclusive and equity cultures that result in Black women thriving versus simply surviving.

Keywords: education, equity, invisible labor, tokenism, intersectionality

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Authors: Bita Mashayekhi, Seyed Meisam Tabatabaie Nasab

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Intellectual capital is one of the most valuable and important parts of the intangible assets of enterprises especially in knowledge-based enterprises. With respect to increasing gap between the market value and the book value of the companies, intellectual capital is one of the components that can be placed in this gap. This paper uses the value added efficiency of the three components, capital employed, human capital and structural capital, to measure the intellectual capital efficiency of Iranian industries groups, listed in the Tehran Stock Exchange (TSE), using a 8 years period data set from 2005 to 2012. In order to analyze the effect of intellectual capital on the market-to-book value ratio of the companies, the data set was divided into 10 industries, Banking, Pharmaceutical, Metals & Mineral Nonmetallic, Food, Computer, Building, Investments, Chemical, Cement and Automotive, and the panel data method was applied to estimating pooled OLS. The results exhibited that value added of capital employed has a positive significant relation with increasing market value in the industries, Banking, Metals & Mineral Nonmetallic, Food, Computer, Chemical and Cement, and also, showed that value added efficiency of structural capital has a positive significant relation with increasing market value in the Banking, Pharmaceutical and Computer industries groups. The results of the value added showed a negative relation with the Banking and Pharmaceutical industries groups and a positive relation with computer and Automotive industries groups. Among the studied industries, computer industry has placed the widest gap between the market value and book value in its intellectual capital.

Keywords: capital employed, human capital, intellectual capital, market-to-book value, structural capital, value added efficiency

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Authors: Günther Schuh, Christina König, Toni Drescher

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One of the key factors for the competitiveness and market success of technology-driven companies is the timely provision of information about emerging technologies, changes in existing technologies, as well as relevant related changes in the market's structures and participants. Therefore, many companies conduct technology intelligence (TI) activities to ensure an early identification of appropriate technologies and other (weak) signals. One base activity of TI is technology monitoring, which is defined as the systematic tracking of developments within a specified topic of interest as well as related trends over a long period of time. Due to the very large number of dynamically changing parameters within the technological and the market environment of a company as well as their possible interdependencies, it is necessary to focus technology monitoring on specific indicators or other criteria, which are able to point out technological developments and market changes. In addition to the execution of a literature review on existing approaches, which mainly propose patent-based indicators, it is examined in this paper whether indicator systems from other branches such as risk management or economic research could be transferred to technology monitoring in order to enable an efficient and focused technology monitoring for companies.

Keywords: technology forecasting, technology indicator, technology intelligence, technology management, technology monitoring

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Authors: Victor Romanov, Daria Efimenko

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The focus on innovation in modern economy is the main factor in surviving business in a competitive environment. The innovations are based on the search and use of knowledge in a global context. Nowadays consumers and market demand are the main innovation drivers. This leads to build a business as a system with feedback, promptly restructuring production and innovation implementation in response to market demands. In modern knowledge economy, because of speed of technical progress, the product's lifecycle became much shorter, what makes more stringent requirements for innovation implementation on the enterprises of and therefore the possibility for enterprise for receiving extra income is decreasing. This circumstance imposes additional requirements for the replacement of obsolete products and the prompt release of innovative products to the market. The development of information technologies has led to the fact that only in the conditions of partnership and knowledge sharing with partners it is possible to update products quickly for innovative products. Many companies pay attention to updating innovations through the search for new partners, but the task of finding new partners presents some difficulties. The search for a suitable one includes several stages such as: determining the moment of innovation-critical, introducing a search, identifying search criteria, justifying and deciding on the choice of a partner. No less important is the question of how to manage an innovative product in response to a changing market. The article considers the problems of information support for the search for the source of innovation and partnership to decrease the time for implementation of novelty products.

Keywords: partnership, novelty, market feedback, alliance

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Authors: Hirreche Baghdad Mohamed

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Our research is linked to cultural policies because the initiation to taste and beauty is a matter for all cultural and educational institutions. It's done by a downstream process (programs, actions, lessons, etc.) that begins at a young age in order to inscribe aesthetic values in memories, imaginations, and practices. Preparing future art lovers probably takes a lot of time. Upstream, continuity is ensured by the "cultural industries" which make cultural products available to actors in the "art market" through professional training, production, dissemination, and sales processes. It turns out that the cultural industries borrow from the "classical" industries the same processes and logic: product, production, marketing, diffusion, profit and profits, supply and demand, the market, the creation of wealth, the entrepreneurship. Today, culture has become a product almost like the others. In the cultural industries system, we protect the rights of authors (owners) and the rights of intermediaries (entrepreneurs of culture), and we provide consumers with an accessible product that meets their needs and expectations. We aim to present an inventory and to reveal, through the speeches of the actors themselves, the processes and modes of operation and deployment of the plastic arts market by showing how it is perceived, imagined, and lived in the city of 'Oran from the 2000s to the present day. However, it is possible to clarify this field of research by looking at previous periods; and even to make comparisons with other regions in Algeria in order to give meaning to practices in various contexts.

Keywords: Oran, Algeria, fine art, art market

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

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

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

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Authors: Konstantinos Kottikas, Vlasis Stathakopoulos, Ioannis G. Theodorakis, Efthymia Kottika

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Theorists have argued that Market Orientation is comprised of two facets, namely the Market Driven and the Market Driving components. The present theoretical paper centers on the latter, which to date has been notably under-investigated. The term Market Driving (MD) pertains to influencing the structure of the market, or the behavior of market players in a direction that enhances the competitive edge of the firm. Presently, the main objectives of the paper are the specification of key antecedents and outcomes of Market Driving behavior. Market Driving firms behave proactively, by leading their customers and changing the rules of the game rather than by responding passively to them. Leading scholars were the first to conceptually conceive the notion, followed by some qualitative studies and a limited number of quantitative publications. However, recently, academicians noted that research on the topic remains limited, expressing a strong necessity for further insights. Concerning the key antecedents, top management’s Transformational Leadership (i.e. the form of leadership which influences organizational members by aligning their values, goals and aspirations to facilitate value-consistent behaviors) is one of the key drivers of MD behavior. Moreover, scholars have linked the MD concept with Entrepreneurship. Finally, the role that Employee’s Creativity plays in the development of MD behavior has been theoretically exemplified by a stream of literature. With respect to the key outcomes, it has been demonstrated that MD Behavior positively triggers firm Performance, while theorists argue that it empowers the Competitive Advantage of the firm. Likewise, researchers explicate that MD Behavior produces Radical Innovation. In order to test the robustness of the proposed theoretical framework, a combination of qualitative and quantitative methods is proposed. In particular, the conduction of in-depth interviews with distinguished executives and academicians, accompanied with a large scale quantitative survey will be employed, in order to triangulate the empirical findings. Given that it triggers overall firm’s success, the MD concept is of high importance to managers. Managers can become aware that passively reacting to market conditions is no longer sufficient. On the contrary, behaving proactively, leading the market, and shaping its status quo are new innovative approaches that lead to a paramount competitive posture and Innovation outcomes. This study also exemplifies that managers can foster MD Behavior through Transformational Leadership, Entrepreneurship and recruitment of Creative Employees. To date, the majority of the publications on Market Orientation is unilaterally directed towards the responsive (i.e. the Market Driven) component. The present paper further builds on scholars’ exhortations, and investigates the Market Driving facet, ultimately aspiring to conceptually integrate the somehow fragmented scientific findings, in a holistic framework.

Keywords: entrepreneurial orientation, market driving behavior, market orientation

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Authors: Abdelmounaim Lahrech, Hajar Bousfiha

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This paper examines equity market integration between Morocco and France and its consequent implications on international portfolio diversification. In the absence of stock market linkages, Morocco can act as a diversification destination to European investors, allowing higher returns at a comparable level of risk in developed markets. In contrast, this attractiveness is limited if both financial markets show significant linkage. The research empirically measures financial market’s integration in by capturing the conditional correlation between the two markets using the Generalized Autoregressive Conditionally Heteroscedastic (GARCH) model. Then, the research uses the Dynamic Conditional Correlation (DCC) model of Engle (2002) to track the correlations. The research findings show that there is no important increase over the years in the correlation between the Moroccan and the French equity markets, even though France is considered Morocco’s first trading partner. Failing to prove evidence of the stock index linkage between the two countries, the volatility series of each market were assumed to change over time separately. Yet, the study reveals that despite the important historical and economic linkages between Morocco and France, there is no evidence that equity markets follow. The small correlations and their stationarity over time show that over the 10 years studied, correlations were fluctuating around a stable mean with no significant change at their level. Different explanations can be attributed to the absence of market linkage between the two equity markets.

Keywords: equity market linkage, DCC GARCH, international portfolio diversification, Morocco, France

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Authors: Nurzahidah Haji Jaapar, Anis Husna Abdul Halim, Mohd Faiz Mohamed Yusof, Mohd Dani Muhamad, Sharifah Fadylawaty Syed Abdullah

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The growing size of Muslim is recognised with significant increasing of purchasing power in the market. The realm of trade and business has embedded religious values as the new market segments are emerging in offering food products to meet needs and demands of Muslim consumer. The emergence of new market in food industry, advertising is charged with all sort of negative effects includes promoting controversial unsafety and harmful products, wasteful spending and exploiting women and kids. Therefore, this research attempts to examine between previous examinations of advertising standardisation in ancient era and current practices in the market. This paper is based on content analysis of the literature. The results show that there are a bridge gap between the implementation of practices as the advent in industrial 4.0 in using digital advertising by food industry. Thus, this paper is able to recognize the differences between two era and significant in determining the best practices in advertising by following Islamic principles.

Keywords: Islamic advertising, unethical advertising, ethical advertising, Islamic principles

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Authors: Dianne Lyneth Alavado

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At the turn of the millennium, development paradigms in the international scene revolved around one goal: elimination of global poverty without comprising human rights. One measure which achieved high endorsement and visibility in the world of work is the Decent Work Agenda (DWA) championed by the United Nation’s (UN) specialized agency for work, the International Labour Organization (ILO). The DWA has been thoroughly promoted and recommended as an ingredient of development planning and a poverty reduction strategy, particularly in developing countries such as the Philippines. The global imperative of economic growth is measurable not only in the numbers raked in by countries in terms of expanding economy but also by the development and realization of the full capacities of their people. Decent work (DW), as an outcome and not just a development approach, promises poverty eradication by means of providing both quantity and quality work that is accompanied by rights, representation, and protection. As a party to these international pacts, the Philippines is expected to heed the call towards a world free from poverty through well-endorsed measures such as the DWA with the aid of multilateral and donor organizations such as the ILO. This study aims to assess the capacity and readiness of the Philippines to achieve the goals of the DWA. This is a qualitative research using the sociological and juridical lens in the desk analysis of existing Philippine laws, policies, and programs vis-à-vis decent work indicators set forth by the ILO. Interview with experts on the Philippine labor situation is conducted for further validation. The paper identifies gaps within the Philippine legal system and its collection of laws, acts, presidential decrees, department orders and other policy instruments aimed towards achieving the goals of the DWA. Among the major findings of this paper are: the predisposition of Philippine labor laws towards the formal sector; the need for alternative solutions for the informal sector veering away from the usual dole-outs and livelihood projects; the needs for evaluation of policies and programs that are usually self-evaluated; the minimal reach of the labour inspectorate which ensures decent work; and the lack of substantial penalty for non-compliance with labor laws. The paper concludes with policy implications and recommendations towards addressing the potholes on the road to Decent Work.

Keywords: decent work agenda, labor laws, millennium development goals, poverty eradication, sustainable development goal

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Authors: Kalinga Jagoda

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With changing population demographics and consumer preferences, specialty crops present significant opportunities for Ontario agri-businesses to develop niche markets. However, the greater rewards offered by such opportunities come with comparable challenges that are driven by specific productmarket attributes, as well as supply and demand-side factors, including certain risks. Thus, initiatives to promote and support such sectors need to be informed by an understanding of the impact of these product-market and industry specific factors on supply chain development. To this end, this project proposes to map selected specialty crops supply chains, using a suite of tested methodological approaches to evaluate their market potential, considering total supply chain costs, lead times and responsiveness. The project will deliver comprehensive supply chain maps identifying the points of value addition and value capture that are of benefit to key stakeholders for the purposes of developing policy interventions, conducting market appraisals and identifying industry best practices.

Keywords: supply chain management, hazelnut industry, supply chain maps, market opportunity

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Authors: Heesu Kim

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This paper determines the varieties of state roles played in East Asia’s telecommunication market, regarding broadband industry. Technological capacity and the relationship between state and market affect the varieties of state role. In explaining the state’s engagement in the market, technology has always been considered as a necessary and sufficient condition. However technology variable has been useful in only explaining the extent of state’s involvement. This paper contributes by bringing in the political-economic factor, which is the relationship between state and market. This factor aids in distinguishing the varieties of state role played in emerging industries. Interaction between these two variables distinguishes 4 types of state roles played in the broadband industry. These roles are distinguished and characterized by the intensity of state’s intervention and the existence of technological capacity. This paper classifies four types of state role through the case of Singapore, China, Taiwan and Korea’s broadband industrial policy.

Keywords: East Asia, entrpreneurial state, industrial policy, regulatory state, technological capacity

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Authors: C. F. Popoola, P. Osho, S. B. Babarinde

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This study examined economic indicators as correlates of inward FDI. An exploratory research design was used to obtained annual published data on inflation rate, market size, exchange rate, political instability, human development, and infrastructure from Central Bank of Nigeria, National Bureau of Statistics, Nigerian Capital Market, Nigeria Institute of Social and Economic Research, and UNCTAD. Data generated were analyzed using Pearson correlation, analysis of variance and regression. The findings of the study revealed that market size (r = 0.852, p < 0.001), infrastructure (r = 0.264, p < 0.001), human development (r = 0.154, p < 0.01) and exchange rate ( r= 0.178, p < 0.05) correlate positively with inward FDI, while inflation rate (r = -0.88, p < 0.001), and political instability (r= -0.102, p < 0.05) correlate negatively with inward FDI. Findings also revealed that the economic indicators significantly predicted inward FDI (R2 = 0.913; F(1,19) = 29.40; p < 0.05) for Nigeria. It was concluded that exchange rate, market size, human development, and infrastructure positively related to inward FDI while the high level of inflation and political instability negatively related to inward FDI. Therefore, it was suggested that policy makers and government agencies should readdress steps and design policies that would encourage more FDI into the country.

Keywords: exchange rate, foreign direct investment, human development, inflation rate, infrastructure, market size, political instability

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Authors: Diana Flores Galindo, Richard Gil Herrera

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Nowadays, Lean Manufacturing and Industry 4.0 are very important in every country. One of the main benefits is continued market presence. It has been identified that there is a need to change existing educational programs, as well as update the knowledge and skills of existing employees. It should be borne in mind that behind each technological improvement, there is a human being. Human talent cannot be neglected. The main objectives of this article are to review the link between Lean Manufacturing, the incorporation of Industry 4.0 and the steps to follow to implement it; analyze the current situation and study the implications and benefits of this new trend, with a particular focus on Mexico. Lean Manufacturing and Industry 4.0 implementation waves must always take care of the most important capital – intellectual capital. The methodology used in this article comprised the following steps: reviewing the reality of the fourth industrial revolution, reviewing employees’ skills on the journey to become world-class, and analyzing the situation in Mexico. Lean Manufacturing and Industry 4.0 were studied not as exclusive concepts, but as complementary ones. The methodological framework used is focused on motivating companies’ collaborators to guarantee common results, innovate, and remain in the market in the face of new requirements from company stakeholders. The key findings were that both trends emphasize the need to improve communication across the entire company and incorporate new technologies into everyday work, from the shop floor to administrative staff, to help improve processes. Taking care of people, activities and processes will bring a company success. In the specific case of Mexico, companies in all sectors need to be aware of and implement technological improvements according to their specific needs. Low-cost labor represents one of the most typical barriers. In conclusion, companies must build a roadmap according to their strategy and needs to achieve their short, medium- and long-term goals.

Keywords: lean management, lean manufacturing, industry 4.0, motivation, SWOT analysis, Hoshin Kanri

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Authors: Muhammad Umair Ahmed, Aftab Shoukat

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Today the global economy has become one of the key strategies in dealing with environmental issues. To allow for a round economy, organizations have begun to work to improve their sustainability management. The contribution of green resource management to the transformation of the global economy has not been investigated. The purpose of the study was to evaluate the effects of green labor management on the global economy, environmental and economic performance, and the organisation's environmental dignity. We strongly evaluate the different roles of the various processes of green personnel management (i.e., green recruitment, training, and engagement green, as well as green performance management and reward) in organizational operations. We are also investigating the leadership role of CEO Ethical. Our outcome will have a positive impact on the performance of the organization. Green Human Resource Management contributes to the evolution of a roundabout economy without the influence of different external factors such as market demand and commitment. Finally, the results of our research will provide a few aspects for future research, both academic and human.

Keywords: sustainability, green human resource management, circular economy, human capital

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Authors: Anzor Abralava, Ketevan Kokrashvili, Rusudan Kutateladze, Nino Pailodze, Ketevan Kutateladze, Giorgi Sulashvili

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Nowadays when the integration of states is growing fast, it is urgent to study the rules of behavior which they resort to in case of conflicts and disagreements. The reason of disagreement in many ways is the Foreign policy carried out by separate countries, as the market participants define production and export capacity and structure as well as level of international division of labor due to the competition among them. We can say over and over again that outbreak of conflicts in Georgia displays the serious controversy between political and economic powerhouses. However, to tell the truth existence of the unsolved conflicts in Georgia is the result of weakness and inadequacy of Georgian politics. Today the main task of political quarters in Georgia should be a direction to Caucasus, as to the region burdened with the most complicated problems which blockade the settlement of conflicts and farther development of our country (or vice versa). In this situation rehabilitation of our authority, leading role and hegemony; expansion and consolidation of peacekeeping and other missions are considered as the exact activities for accomplishing all Georgian economic and political goals.

Keywords: Awara Group, political centers, administrative services, dynamic process

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Authors: Santi Mutiara Asih, Sinta Kemala Asih

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Along with the development of tourism in Indonesia, which is increasingly a lot of domestic and foreign public interest in sharia tourism, the Indonesian government is currently developing the program. It was seen that this program would have a good impact, especially for Indonesian tourism. So it is necessary to develop appropriate marketing strategies. Then to develop tourism prospects sharia government could use such a marketing strategy, for instance, marketing mix and Segmenting, Targeting, and Positioning (STP). The marketing mix is a set of marketing tools used by a state or a company to continue achieving its marketing objectives in target market. STP is the most important initial step in identifying customer value. In such away, it is expected from the use of this strategy could make sharia tourism as a market leader in the field of tourism in Indonesia, it also could attract more tourists to visit and increase economic returns.

Keywords: STP, marketing mix, market leader, sharia tourism

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Authors: Wafa Ghonaim

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Though quite fast on growth, Islamic financing at large, and its diverse instruments, is a controversial matter among scholars. This is evident from the ongoing debates on its Shariah compliance. Arguments, however, are inciting doubts and concerns among clients about its credibility, which is harming this lucrative sector. The work here investigates, particularly, some issues related to the Tawarruq instrument. The work examines the issues of linking Murabaha and Wakala contracts, the reselling of commodities to same traders, and the transfer of ownerships. The work affirms that a multi-agent smart electronic market design would facilitate Shariah compliance. The smart market exploits the rational decision-making capabilities of autonomous proxy agents that enable the clients, traders, brokers, and the bank buy and sell commodities, and manage transactions and cash flow. The smart electronic market design delivers desirable qualities that terminate the need for Wakala contracts and the reselling of commodities to the same traders. It also resolves the ownership transfer issues by allowing stakeholders to trade independently. The bank administers the smart electronic market and assures reliability of trades, transactions and cash flow. A multi-agent simulation is presented to validate the concept and processes. We anticipate that the multi-agent smart electronic market design would deliver Shariah compliance of personal financing to the aspiration of scholars, banks, traders and potential clients.

Keywords: Islamic finance, share'ah compliance, smart electronic markets design, multiagent systems

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Authors: Byomakesh Debata, Jitendra Mahakud

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The recent financial crisis has been characterized by massive monetary policy interventions by the Central bank, and it has amplified the importance of liquidity for the stability of the stock market. This paper empirically elucidates the actual impact of monetary policy interventions on stock market liquidity covering all National Stock Exchange (NSE) Stocks, which have been traded continuously from 2002 to 2015. The present study employs a multivariate VAR model along with VAR-granger causality test, impulse response functions, block exogeneity test, and variance decomposition to analyze the direction as well as the magnitude of the relationship between monetary policy and market liquidity. Our analysis posits a unidirectional relationship between monetary policy (call money rate, base money growth rate) and aggregate market liquidity (traded value, turnover ratio, Amihud illiquidity ratio, turnover price impact, high-low spread). The impulse response function analysis clearly depicts the influence of monetary policy on stock liquidity for every unit innovation in monetary policy variables. Our results suggest that an expansionary monetary policy increases aggregate stock market liquidity and the reverse is documented during the tightening of monetary policy. To ascertain whether our findings are consistent across all periods, we divided the period of study as pre-crisis (2002 to 2007) and post-crisis period (2007-2015) and ran the same set of models. Interestingly, all liquidity variables are highly significant in the post-crisis period. However, the pre-crisis period has witnessed a moderate predictability of monetary policy. To check the robustness of our results we ran the same set of VAR models with different monetary policy variables and found the similar results. Unlike previous studies, we found most of the liquidity variables are significant throughout the sample period. This reveals the predictability of monetary policy on aggregate market liquidity. This study contributes to the existing body of literature by documenting a strong predictability of monetary policy on stock liquidity in an emerging economy with an order driven market making system like India. Most of the previous studies have been carried out in developing economies with quote driven or hybrid market making system and their results are ambiguous across different periods. From an eclectic sense, this study may be considered as a baseline study to further find out the macroeconomic determinants of liquidity of stocks at individual as well as aggregate level.

Keywords: market liquidity, monetary policy, order driven market, VAR, vector autoregressive model

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Authors: Sonal Purohit, Animesh Dubey

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Corporate governance deals with the entire network of formal and informal relationship with the management of the company and company’s stakeholders including employees, customers, creditors, local communities, and society in general. The recent financial crisis was truly a global crisis in its nature and effects. The Indian financial markets were not immune to this global financial crisis. It is believed that corporate governance also had a major role to play in staggering the effect of this crisis. The objective of this paper is to examine the failure of prevailing corporate governance practice in India during financial crisis. Lack of appropriate implementation of the corporate government norms was a reason behind the phenomenon of money being pulled-out by FIIs, which constitute major investors and influencers of the Indian financial market.

Keywords: corporate governance, FII, financial market, financial crisis

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Authors: Bashir Tijjani Abubakar

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Capital markets play a very important role in financing of private and public institutions in both developing and developed economies. Unfortunately, small and medium enterprises (SMEs) in those economies are yet to fully utilize the markets to finance their long financial needs. This study assesses the factors that influence the decisions of the Muslim Owners/Managers of SMEs in Nigeria and specifically in Kano to seek capital market financing. Logit regression model was used to assess the factors such as control of ownership, perception of the owners/managers on the interest rate charged by commercial banks, educational qualification, size, and age of the SMEs. The study reveals that all the factors have significant positive influence on the willingness of the SMEs Owners/Managers to seek capital market financing. The study recommends educating the Owners/Managers on the operations and products of the markets.

Keywords: capital markets, capital market financing, small and medium enterprise and willingness, size of an enterprise, age of an enterprise and control of ownership

Procedia PDF Downloads 275