Search results for: european capital of culture

Authors: Hongmin Chun

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This paper examines corporate cash holdings and their effect on the cost of equity capital. In addition, this study examines the potentially different effects when the firm belongs to chaebol and non-chaebol groups. Chaebol is a South Korean form of business conglomerate. Chaebol is typically global multinationals and owns numerous international enterprises, controlled by a chairman with power over all the operations. The overall empirical result suggests that higher cash holdings are a risk increasing factor which holds for the chaebol group of firms. This result is valid in a battery of robustness tests and 2SLS regressions. In Korea, higher cash holdings represent a risk premium factor that is closely related to the overinvestment and agency problems between managers and shareholders.

Keywords: cash holdings, implied cost of equity capital, chaebol, agency problem

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Authors: Olgun Akbulut

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Turkey has entered in the European human rights monitoring in the early 1990s. Since then many improvements have been observed in domestic law. However, one area stays the least developed one: gender discrimination. Although the country is proud of the fact that electoral rights for women were recognized in Turkey even before many developed countries in the west, interestingly the first Turkish case where the European Court of Human Rights (ECrtHR) found discrimination concerned gender discrimination. With the proposed paper, the author is willing to determine and analyze the findings of the ECrtHR in cases decided against Turkey concerning gender discrimination, identify whether Turkish public institutions display coordination in engagement or disengagement in implementing the judgments where the ECrtHR found discrimination on the basis of gender and evaluate the effectiveness of the Court's jurisprudence on Turkish gender policy.

Keywords: equality, gender discrimination, human rights, Turkey

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Authors: Zahid Ahmad, Nauman Ali

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This study has estimated the trade between USA and individual members of European Union using Gravity Model of Trade as The USA has a complex trade relationship with the European countries consist of a large number of consumers, which make USA dependent on EU for major of its total world trade. However, among the member of EU, the trade potential of USA with individual members of EU is not known. Panel data techniques e.g. Random Effect, Fixed Effect and Pooled Panel have been applied to secondary quantitative data to analyze the Trade between USA and EU. Trade Potential of USA with individual members of EU has been obtained using the ratio of Actual trade of USA with EU members and the trade as predicted by Gravity Model. The Study concluded that the USA has greater trade potential with 16 members of EU, including Croatia, Portugal and United Kingdom on top. On the other hand, Finland, Ireland, and France are the top countries with which the USA has exhaustive trade potential.

Keywords: analytical technique, economic, gravity, international trade, significant

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Authors: G. Cinelli, T. Tollefsen, P. Bossew, V. Gruber, R. Braga, M. A. Hernández-Ceballos, M. De Cort

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In 2006, the Joint Research Centre (JRC) of the European Commission started the project of the 'European Atlas of Natural Radiation'. The Atlas aims at preparing a collection of maps of Europe displaying the levels of natural radioactivity caused by different sources (indoor and outdoor radon, cosmic radiation, terrestrial radionuclides, terrestrial gamma radiation, etc). The overall goal of the project is to estimate, in geographical resolution, the annual dose that the public may receive from natural radioactivity, combining all the information from the different radiation components. The first map which has been developed is the European map of indoor radon (Rn) since in most cases Rn is the most important contribution to exposure. New versions of the map are realised when new countries join the project or when already participating countries send new data. We show the latest status of this map which currently includes 25 European countries. Second, the JRC has undertaken to map a variable which measures 'what earth delivers' in terms of Rn. The corresponding quantity is called geogenic radon potential (RP). Due to the heterogeneity of data sources across the Europe there is need to develop a harmonized quantity which at the one hand adequately measures or classifies the RP, and on the other hand is suited to accommodate the variety of input data used to estimate this target quantity. Candidates for input quantities which may serve as predictors of the RP, and for which data are available across Europe, to different extent, are Uranium (U) concentration in rocks and soils, soil gas radon and soil permeability, terrestrial gamma dose rate, geological information and indoor data from ground floor. The European Geogenic Radon Map gives the possibility to characterize areas, on European geographical scale, for radon hazard where indoor radon measurements are not available. Parallel to ongoing work on the European Indoor Radon, Geogenic Radon and Cosmic Radiation Maps, we made progress in the development of maps of terrestrial gamma radiation and U, Th and K concentrations in soil and bedrock. We show the first, preliminary map of the terrestrial gamma dose rate, estimated using the data of ambient dose equivalent rate available from the EURDEP system (about 5000 fixed monitoring stations across Europe). Also, the first maps of U, Th, and K concentrations in soil and bedrock are shown in the present work.

Keywords: Europe, natural radiation, mapping, indoor radon

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Authors: Sendy Ghirardi, Pau Rausell Köster

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The European Commission increasingly pushes cultural policies towards social outcomes and local and regional authorities also call for culture-driven strategies for local development and prosperity and therefore, the measurement of cultural participation becomes increasingly more significant for evidence-based policy-making processes. Cultural participation involves various kinds of social and economic spillovers that combine social and economic objectives of value creation, including social sustainability and respect for human values. Traditionally, from the economic perspective, cultural consumption is measured by the value of financial transactions in purchasing, subscribing to, or renting cultural equipment and content, addressing the market value of cultural products and services. The main sources of data are the household spending survey and merchandise trade survey, among others. However, what characterizes the cultural consumption is that it is linked with the hedonistic and affective dimension rather than the utilitarian one. In fact, nowadays, more and more attention is being paid to the social and psychological dimensions of culture. The aim of this work is to present a comprehensive approach to measure the impacts of cultural participation and cultural users’ behaviour, combining both socio-psychological and economic approaches. The model combines contingent evaluation techniques with the individual characteristic and perception analysis of the cultural experiences to evaluate the cognitive, aesthetic, emotive and social impacts of cultural participation. To investigate the comprehensive approach to measure the impact of the cultural events on individuals, the research has been designed on the basis of prior theoretical development. A deep literature methodology has been done to develop the theoretical model applied to the web platform to measure the impacts of cultural experience on individuals. The developed framework aims to become a democratic tool for evaluating the services that cultural or policy institutions can adopt through the use of an interacting platform that produces big data benefiting academia, cultural management and policies. The Au Culture is a prototype based on an application that can be used on mobile phones or any other digital platform. The development of the AU Culture Platform has been funded by the Valencian Innovation Agency (Government of the Region of Valencia) and it is part of the Horizon 2020 project MESOC.

Keywords: comprehensive approach, cultural participation, economic dimension, socio-psychological dimension

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Authors: Maria Inês Pinho

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Recent literature on issues of Cultural Management (also called Strategic Management for cultural organizations) systematically seeks for models that allow such equipment to adapt to the constant change that occurs in contemporary societies. In the last decade, the world, and in particular Europe has experienced a serious financial problem that has triggered defensive mechanisms, both in the direction of promoting the balance of public accounts and in the sense of the anonymous loss of the democratic and cultural values of each nation. If in the first case emerged the Troika that led to strong cuts in funding for Culture, deeply affecting those organizations; in the second case, the commonplace citizen is seen fighting for the non-closure of cultural equipment. Despite this, the cultural manager argues that there is no single formula capable of solving the need to adapt to change. In another way, it is up to this agent to know the existing scientific models and to adapt them in the best way to the reality of the institution he coordinates. These actions, as a rule, are concerned with the best performance vis-à-vis external audiences or with the financial sustainability of cultural organizations. They forget, therefore, that all this mechanics cannot function without its internal public, without its Human Resources. The employees of the cultural organization must then have an entrepreneurial posture - must be intrapreneurial. This paper intends to break this form of action and lead the cultural manager to understand that his role should be in the sense of creating value for society, through a good organizational performance. This is only possible with a posture of strategic entrepreneurship. In other words, with a link between: Cultural Management, Cultural Entrepreneurship and Cultural Intrapreneurship. In order to prove this assumption, the case study methodology was used with the symbol of the European Capital of Culture (Casa da Música) as well as qualitative and quantitative techniques. The qualitative techniques included the procedure of in-depth interviews to managers, founders and patrons and focus groups to public with and without experience in managing cultural facilities. The quantitative techniques involved the application of a questionnaire to middle management and employees of Casa da Música. After the triangulation of the data, it was proved that contemporary management of cultural organizations must implement among its practices, the concept of Strategic Entrepreneurship and its variables. Also, the topics which characterize the Cultural Intrapreneurship notion (job satisfaction, the quality in organizational performance, the leadership and the employee engagement and autonomy) emerged. The findings show then that to be sustainable, a cultural organization should meet the concerns of both external and internal forum. In other words, it should have an attitude of citizenship to the communities, visible on a social responsibility and a participatory management, only possible with the implementation of the concept of Strategic Entrepreneurship and its variable of Cultural Intrapreneurship.

Keywords: cultural entrepreneurship, cultural intrapreneurship, cultural organizations, strategic management

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Authors: Ranjith Ihalanayake, Lalith Seelanatha, John Breen

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In this study, we explored the current working capital management practices as applied in small businesses in Victoria, filling an existing theoretical and empirical gap in literature in general and in Australia in particular. Amidst the current global competitive and dynamic environment, the short term insolvency of small businesses is very critical for the long run survival. A firm’s short-term insolvency is dependent on the availability of sufficient working capital for feeding day to day operational activities. Therefore, given the reliance for short-term funding by small businesses, it has been recognized that the efficient management of working capital is crucial in respect of the prosperity and survival of such firms. Against this background, this research was an attempt to understand the current working capital management strategies and practices used by the small scale businesses. To this end, we conducted an internet survey among 220 small businesses operating in Victoria, Australia. The survey results suggest that the majority of respondents are owner-manager (73%) and male (68%). Respondents participated in this survey mostly have a degree (46%). About a half of respondents are more than 50 years old. Most of respondents (64%) have business management experience more than ten years. Similarly, majority of them (63%) had experience in the area of their current business. Types of business of the respondents are: Private limited company (41%), sole proprietorship (37%), and partnership (15%). In addition, majority of the firms are service companies (63%), followed by retailed companies (25%), and manufacturing (17%). Size of companies of this survey varies, 32% of them have annual sales $100,000 or under, while 22% of them have revenue more than $1,000,000 every year. In regards to the total assets, majority of respondents (43%) have total assets $100,000 or less while 20% of respondents have total assets more than $1,000,000. In regards to WCMPs, results indicate that almost 70% of respondents mentioned that they are responsible for managing their business working capital. The survey shows that majority of respondents (65.5%) use their business experience to identify the level of investment in working capital, compared to 22% of respondents who seek advice from professionals. The other 10% of respondents, however, follow industry practice to identify the level of working capital. The survey also shows that more than a half of respondents maintain good liquidity financial position for their business by having accounts payable less than accounts receivable. This study finds that majority of small business companies in western area of Victoria have a WCM policy but only about 8 % of them have a formal policy. Majority of the businesses (52.7%) have an informal policy while 39.5% have no policy. Of those who have a policy, 44% described their working capital management policies as a compromise policy while 35% described their policy as a conservative policy. Only 6% of respondents apply aggressive policy. Overall the results indicate that the small businesses pay less attention into the management of working capital of their business despite its significance in the successful operation of the business. This approach may be adopted during favourable economic times. However, during relatively turbulent economic conditions, such an approach could lead to greater financial difficulties i.e. short-term financial insolvency.

Keywords: small business, working capital management, Australia, sufficient, financial insolvency

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Authors: Carolina B. A. Morais, Antonio Bob Santos

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In order to determine how innovation procurement can strengthen public efficiency and foster the modernization of public services, while at the same time promoting the opening of new private markets, this paper aims to present the two key instruments for the practice of innovation procurement at a European, national, and regional level – Pre-Commercial Procurement (PCP), and Public Procurement of Innovative Solutions (PPI). Thus, it starts with a theoretical framework on the emergence of this topic in the European Innovation Policy (Section 2), then continues with the identification and systematization of the main mechanisms for its effective adoption, both on the demand and supply side of the market (Section 3), as well as to expose and describe methods and tools for positioning innovation at the heart of public entities. The innovative projects best distinguished by the European Commission for their good practices in innovation procurement are identified, and the main methodology for the development and management of innovation procurement – Forward Commitment Procurement (FCP) – is applied to them in a pioneering way (Section 4). The relevance of innovation in public procurement is systematized and reflected upon in Section 5.

Keywords: innovation procurement, innovation policy, innovation, pubic procurement

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Authors: Akbar Ali

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This study played an important role in the investigation of social adjustment of adolescent living with step parent families in Pakistan. Families plays an crucial role in the training and adjustment of adolescents’ personal, social and academic life. Adolescents living with parent families often experience different challenges which affects their social adjustment in the family and which further have impact on their academic and social life. One of central theme investigated in this study is parenting practice and other major theme is parental capital. The objectives of the study were to determine how different parenting styles being practiced in family affects adolescents’ adjustment and what is the role of parental capital in adolescents adjustment. qualitative approach was adopted for this research. Adolescents who are studying at college and living with step parent families participated in this study. Data was collected through interviews. Collected data was analyzed through NVIVO. Through findings, it is stated that parenting style and parental capital determining factors affecting adolescents’ adjustment and family experiences. The study suggest a comprehensive and practical approach for the adjustment of adolescents. Government should establish counselling and enabling facilities for adolescents’ for the wellbeing and better social adjustment.

Keywords: adolescents, academic life, parental capital, parental practices, social adjustment

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Authors: Jo Rhodes, Bruce Bergstrom, Peter Lok, Vincent Cheng

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The aim of this study is to determine key factors and processes for multinationals (MNCs) to develop an effective stakeholder engagement and sustainable development framework. A qualitative multiple-case approach was used. A triangulation method was adopted (interviews, archival documents and observations) to collect data on three global firms (MNCs). 9 senior executives were interviewed for this study (3 from each firm). An initial literature review was conducted to explore possible practices and factors (the deductive approach) to sustainable development. Interview data were analysed using Nvivo to obtain appropriate nodes and themes for the framework. A comparison of findings from interview data and themes, factors developed from the literature review and cross cases comparison were used to develop the final conceptual framework (the inductive approach). The results suggested that stakeholder engagement is a key mediator between ‘stakeholder network’ (internal and external factors) and outcomes (corporate social responsibility, social capital, shared value and sustainable development). Key internal factors such as human capital/talent, technology, culture, leadership and processes such as collaboration, knowledge sharing and co-creation of value with stakeholders were identified. These internal factors and processes must be integrated and aligned with external factors such as social, political, cultural, environment and NGOs to achieve effective stakeholder engagement.

Keywords: stakeholder, engagement, sustainable development, shared value, corporate social responsibility

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Authors: Reza Davoodi, Hamid Abbasi, Heidar Norouzi, Gholamabbas Alipourian

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A dynamic model shaping a process of knowledge management (KM) culture change is suggested. It is aimed at providing effective KM of employees for obtaining desired results in an organization. The essential requirements for obtaining KM culture change are determined. The proposed model realizes these requirements. Dynamics of the model are expressed by a change of its parameters. It is adjusted to the dynamic process of KM culture change. Building the model includes elaboration and integration of interconnected components. The “Result” is a central component of the model. This component determines a desired organizational goal and possible directions of its attainment. The “Confront” component engenders constructive confrontation in an organization. For this reason, the employees are prompted toward KM culture change with the purpose of attaining the desired result. The “Assess” component realizes complex assessments of employee proposals by management and peers. The proposals are directed towards attaining the desired result in an organization. The “Reward” component sets the order of assigning rewards to employees based on the assessments of their proposals.

Keywords: knowledge management, organizational culture change, employee, result

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Authors: Filiz Ersoz, Taner Ersoz, Tugrul Bayraktar

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Renewable energy is referred to as "clean energy" and common popular support for the use of renewable energy (RE) is to provide electricity with zero carbon dioxide emissions. This study provides useful insight into the European Union (EU) RE, especially, into electricity generation obtained from renewables, and their targets. The objective of this study is to identify groups of European countries, using multivariate statistical analysis and selected indicators. The hierarchical clustering method is used to decide the number of clusters for EU countries. The conducted statistical hierarchical cluster analysis is based on the Ward’s clustering method and squared Euclidean distances. Hierarchical cluster analysis identified eight distinct clusters of European countries. Then, non-hierarchical clustering (k-means) method was applied. Discriminant analysis was used to determine the validity of the results with data normalized by Z score transformation. To explore the relationship between the selected indicators, correlation coefficients were computed. The results of the study reveal the current situation of RE in European Union Member States.

Keywords: share of electricity generation, k-means clustering, discriminant, CO2 emission

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Authors: Suheyla Saritas

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No matter who we are or where we live, our lives revolve around food, which is much more than a merely sustenance. As a part of the human culture, food carries complex significance and symbolic meanings. Turkish people attribute great value to food and its usage specifically tied to rites of passages of human life. Traditions, especially the ones practiced during rites of passages, such as birth, circumcisions, weddings and funerals, have always been accompanied by food in Turkish culture. Since food celebrates and symbolizes human progress in life in the culture, it also surrounds by aspects of belief, custom, magic, ritual and religion and has always been used in ceremonial context during such rites. Even though that context may be different depending on the religious, economic and social nuances of the various Turkish regions, like wheat, meat and bread, certain kinds of food play key roles during Turkish rites, generally upholding traditions. This paper highlights the sociocultural aspect of food in the rites of passages in the Turkish culture. The importance of this work also is how the ceremonial food represents the identity of Turkish people.

Keywords: food, culture, rites of passages, ritual and identity

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Authors: Triza Edwar Fawzi Deif

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In the process of urbanization in China, new rural construction is on the ascendant, which is becoming more and more popular. Under the driving effect of rural urbanization, the house pattern and tectonic methods of traditional vernacular houses have shown great differences from the family structure and values of contemporary peasant families. Therefore, it is particularly important to find a prototype, form and strategy to make a balance between the traditional memory and modern functional requirements. In order for research to combine the regional culture with modern life, under the situation of the current batch production of new rural residences, Badie village, in Zhejiang province, is taken as the case. This paper aims to put forward a prototype which can not only meet the demand of modern life but also ensure the continuation of traditional culture and historical context for the new rural dwellings design. This research not only helps to extend the local context in the construction of the new site but also contributes to the fusion of old and new rural dwellings in the old site construction. Through the study and research of this case, the research methodology and results can be drawn as reference for the new rural construction in other areas.

Keywords: steel slag, co-product, primary coating, steel aggregate capital, rural areas, rural planning, rural governance village, design strategy, new rural dwellings, regional context, regional expression

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Authors: Shahna K. C., Belay Menon, Taniya Joshua

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As globalization in the era progresses, spatial inequality is turned to be one of the major concerns; the main intent of the Study is to focus on if there is any interdependencies of culture economy and resource availability on creating spatial inequality in cities. The paper tries to establish the relationship between spatial inequality – the quality of life – the DETERMINANT TRIAD (culture, economy, resource availability). Slum area of Dharavi is taken to evaluate the influence of these determinants on the quality of life as spatial inequality is evident there. Interdependencies of the determinants on creating spatial inequality is evaluated. For this, It is understood that these three parameters, i.e., culture, economy, resource availability, are determinants of urban design, each from the social, economic, environmental domains of sustainability, respectively. And there are studies individually on each of these aspects, how they determine the urban spaces, and how influential on the whole process of urbanization. Now extending the study towards the interdependencies of these three so as to find out how these trilogy shapes the urban form and space.

Keywords: spatial inequality, culture, economy, resource availability, quality of life

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Authors: Ece Akca, Nebi Sumer, Heidi A. Wayment, Meliksah Demir

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This study compares a typical individualistic culture (the USA) and a relatively collectivist culture (Turkey) on the levels and personality predictors of the quiet ego. A total of 248 Turkish and 683 American university students completed the Quiet Ego Scale and the Big Five Personality Inventory. The moderating role of culture on the relationship between quiet ego and personality characteristics was investigated. Openness to experience was the strongest predictor of the quiet ego among both Turkish and the US samples. Whereas extraversion, conscientiousness, and agreeableness significantly predicted quiet ego in the US, lower levels of neuroticism were related to the quiet ego in Turkey. Results revealed that the effect of personality characteristics on quiet ego varied across cultures. Agreeableness in the US and neuroticism in Turkey seemed to be the critical predictor of quite ego. Results were discussed considering cultural values in Turkish and the USA context.

Keywords: agreeableness, big five personality, culture, neuroticism, quiet ego

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Authors: R. Pääkkönen, L. Korpinen

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We tried statistically to determine the biggest risks for accidents and injuries in Finland compared to other countries. We have a very high incidence of domestic falls and accidental poisoning compared to other European countries. On the other side, we have a relatively low number of accidents in traffic or at work globally, and in European scale, because we have worked hard to diminish these forms of accidents. In Finland, there is work to be done to improve attitudes and actions against domestic accidents.

Keywords: injuries, accident, comparison, Finland

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Authors: Saghar Heidari

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In this paper, we study the valuation problem of European continuous-installment options under Markov-modulated models with a partial differential equation approach. Due to the opportunity for continuing or stopping to pay installments, the valuation problem under regime-switching models can be formulated as coupled partial differential equations (CPDE) with free boundary features. To value the installment options, we express the truncated CPDE as a linear complementarity problem (LCP), then a finite element method is proposed to solve the resulted variational inequality. Under some appropriate assumptions, we establish the stability of the method and illustrate some numerical results to examine the rate of convergence and accuracy of the proposed method for the pricing problem under the regime-switching model.

Keywords: continuous-installment option, European option, regime-switching model, finite element method

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Authors: Jie Zhang, Chaomin Zhang, Jihua Zhang, Haitong Li

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Using the theory of optimal distinctiveness, this study examines the effects of conformity and differentiation within corporate social responsibility (CSR) practices on capital market performance. Analysing data from Chinese A-share listed firms from 2007 to 2022, this paper demonstrates that when firms conform to the expected scope of CSR, such behaviour enhances investor attention and market acceptance, thereby boosting stock liquidity. Conversely, emphasising differentiation in CSR practices more effectively mitigates stock price crash risk by addressing principal–agent problems and decreasing information asymmetry. This paper also investigates how organisational and environmental factors moderate the relationship between conformity and differentiation in CSR practices and their impact on capital market performance. The results also show that the influence of conformity on stock liquidity is accentuated in smaller firms and environments with stringent legal oversight. By contrast, the benefits of differentiation in reducing stock price crash risk are amplified in firms with robust corporate governance and markets characterised by high uncertainty.

Keywords: corporate social responsibility, social responsibility practices, capital market performance, optimal distinctiveness

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Authors: M. Yasin Al-Arif, Mohammad Faisol Soleh

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The Indonesia’s Constitution in Article 18b explained that the state recognizes and respects indigenous peoples and their traditional rights that are guaranteed by the law. Despite already guaranteed its existence; in practice such indigenous law is often considered contrary to positive law by legal experts. It is because of legal positivism paradigm which requires the written law as the main reference for the settlement of legal disputes. Carok’s culture is one of the indigenous cultures of Madura to resolve legal disputes that still thrives until today. Carok’s culture is in outside the legal process, and through a fight between the disputing parties until one dies. On the other hand, the legal positivism does not give place to accommodate Carok as indigenous dispute settlement, until it must be solved through trial. This way of settlement has not been successfully satisfying the indigenous people, thus although it has been done through its verdict in the trial, but Carok still be used by them. From the explanation above, Carok’s culture must be accommodated as the main settlement process and legal process of law as the alternative to the effectiveness of dispute resolution in Madura Indonesia.

Keywords: carok, dispute settlement, legal positivism, madura’s culture

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Authors: Ching-Yi Wang

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The purpose of this study is to explore strategies for integrate Minhsiung environments and cultural resources for Infernal Lord Festival. Minhsiung Infernal Lord Festival is one of the famous religious event in Chia-Yi County, Taiwan. This religious event and the life of local residents are inseparable. Minhsiung Infernal Lord Festival has a rich cultural ceremonies meaning and sentiment of local concern. This study apply field study, document analysis and interviews to analyze Minhsiung Township’s featured attractions and folklore events. The research results reveal the difficulties and strategies while incorporating culture elements into culture tourism. This study hopes to provide innovative techniques for the purpose of prolonging the feasibility of future development of the tradition folk culture.

Keywords: Taiwan folk culture, Minhsiung Infernal Lord Festival, religious tourism, folklore, cultural tourism

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Authors: Faiqa Jalal

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The purpose of the following research paper is to discuss the differentiating meanings of culture and how popular culture has maintained a great impact on intercultural and international behavior. The following discussion leads to the notion of communicating cultural impact on behavior through advertising and sub-cultural theory in advertising. Although towards the end of the research, the complexities that develop through the above discussion, lead to the solution that ‘advertising gives meaning to the otherwise meaningless and identical objects through linking them to our basic needs’. In today’s fast paced digital world, it is difficult to define culture, literally, since its meaning tends to shift through series of different perceptions such as ‘how’ and ‘why’ it should be used. This notion can be taken towards another notion of popular culture. It is dependent on ‘attitudes, ideas, images, perspectives and other phenomena within the mainstream of a given culture’. Since popular culture is influenced by mass media, it has a way of influencing an individual’s attitude towards certain topics. For example, tattoos are a form of human decorations, that have historic significance, and a huge spectrum of meanings. Advertising is one aspect of marketing that has evolved from the time when it was ‘production oriented’, up till the time it started using different mediums to make its impact more effective. However, this impact has confused us between our needs and desires. The focus in this paper is ‘we consume to acquire a sense of social identity and status, not just for the sake of consumption’. Every culture owns different expressions, which are then used by advertisers to create its impact on the behavior of people sub-culturally and globally, as culture grows through social interaction. Advertisers furthermore play a smart role in highlighting quality of life ranging from ‘survival to well-being’. Hence, this research paper concludes by highlighting that culture is considered as a ‘basic root’ of any community that also provides solution to certain problems; however, advertisers play their part in manipulating society’s literacy and beliefs by rationalizing how relevant certain products/brands are to their beliefs.

Keywords: mass media, popular culture, production oriented, sub-culture

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Authors: Mohammad Ali Ghareh, Habib Honari, Alireza Ahmadi

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The aim of this study was to investigate the relationship between strategic management and organizational culture in sport federations of Islamic Republic of Iran. Strategic management is a set of decisions and actions which define the long term performance of an organization. Organizational culture can be considered as an identity for every organization and somehow gives an identification to organization members. Organizational culture result in a certain commitments in organization members which is more valuable than individual profits and interests. The method of research was descriptive and correlational, conducted as a field study. The statistical population consisted of the employees of 10 sports federations and 170 persons were selected as sample. For data gathering, Barringer and Bluedorn’s strategic management questionnaire (1999) and Sakyn’s organizational culture questionnaire (2001) were used. The reliability of the questionnaires were 0.82 and 0.80 respectively, and the validity was approved by 8 experienced professors in sport management. To analyze data, KS (Kolmogorov–Smirnov) test and Pearson's coefficient were used. The results have shown that there is a significant meaningful relationship between strategic management and organizational culture (p < 0.05, r= 0.62). Beside this, there is a positive relationship between strategic management variables including scanning intensity, planning flexibility, locus of planning, planning horizon, strategic controls, and organizational culture (p < 0.05). Based on this research result it can be derived that strategic management planning and operation in terms of appropriate organizational culture is more applicable. By agreeing on their values and beliefs, adaptation to changes, caring about the individualities, coordination in tasks, modifying the individual and organizational goals, the federations will be able to achieve their strategic goals.

Keywords: strategic management, organizational culture, sports federations, Islamic Republic of Iran

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Authors: Yongsheng Guo, Mengyu Lu

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This study investigates how Chinese SMEs manage financial risks in financing from customers from the perspectives of ethics and national culture. A grounded theory approach is adopted to identify the causal conditions, actions/interactions, and consequences. 32 interviews were conducted, and systematic coding methods were used to identify themes and categories. This study found that Chinese ethical principles, including integrity, friendship, and reciprocity, and cultural traits, including collectivism, acquaintance society, and long-term orientation, provide conditions for financing from customers. The SMEs establish trust-based relationships with customers through personal communications and social networks and reduce financial risk through diversification, frequent operations, and enterprise reputations. Both customers and SMEs can get benefits like financial resources and customer experiences. This study creates a theoretical framework that connects the causal conditions, processes, and outcomes, providing a deeper understanding of financing from customers. A resource and process capability theory of SMEs and a customer capital and customer value model are proposed to connect accounting and finance concepts. Suggestions are proposed for the authorities as more guidance and regulations are needed for this informal finance.

Keywords: CRM, culture, ethics, SME, risk management

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Authors: Seraphina Bakta

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On many occasions, the link between human rights and culture in Africa is tainted with speculations that African traditions and culture impede human rights. Seemingly also, literature from Africa highly supports the approach of cultural relativism instead of the universalism approach to human rights. This approach has been regarded by many as an unwillingness to accept human rights as universal. While it has to be appreciated that in different communities, there are positive and negative elements of culture, including in Africa, the positive aspect is hardly seen in African culture. This paper, employed documentary review and interviews to collect data. Various documents were reviewed including international and domestic legal materials and literature. Data from documentary review were verified through interviews in Morogoro and Shinyanga regions in Tanzania. Qualitative approach was used to analyse such data where a thematic content analysis was used. The study found that there are positive aspects of African tradition and culture including those promoting child work (as opposed to child labour); some aspects on child protection which should be embraced. However, still some aspects such as child marriage and inconsistent with child rights. It is pivotal that therefore that measures are be adopted to address them.

Keywords: child rights, customs, tradition, Africa

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Authors: Ksenija Dumičić, Anita Čeh Časni, Irena Palić

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This paper examines economic and Information and Communication Technology (ICT) development influence on recently increasing Internet purchases by individuals for European Union member states. After a growing trend for Internet purchases in EU27 was noticed, all possible regression analysis was applied using nine independent variables in 2011. Finally, two linear regression models were studied in detail. Conducted simple linear regression analysis confirmed the research hypothesis that the Internet purchases in analysed EU countries is positively correlated with statistically significant variable Gross Domestic Product per capita (GDPpc). Also, analysed multiple linear regression model with four regressors, showing ICT development level, indicates that ICT development is crucial for explaining the Internet purchases by individuals, confirming the research hypothesis.

Keywords: European union, Internet purchases, multiple linear regression model, outlier

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Authors: Tasawar Nawaz

Abstract:

Promotion of socioeconomic justice through redistribution of wealth is one of the most salient features of Islamic economic system. Islamic financial institutions known as Islamic banks are used to implement this in practice under the guidelines of Islamic Shariah law. Islamic banking systems strive to promote and achieve financial inclusion among the society by offering interest-free banking and risk-sharing financing solutions. Shariah-compliant micro finance is one of the most popular financial instruments used by Islamic banks to enhance access to finance. Benevolent loan (or Qard-al-Hassanah) is one of the popular financial tools used by the Islamic banks to promote financial inclusion. This aspect of Islamic banking is empirically examined in this paper with specific reference to firm’s resources, largely defined here as intellectual capital. The paper finds that Islamic banks promote financial inclusion by exploiting available resources especially, the human intellectual capital.

Keywords: financial inclusion, intellectual capital, Qard-al-Hassanah, Islamic banking

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Authors: Ana Mouro, Ana Ramalheira

Abstract:

Since 1989, with the Fall of the Berlin Wall, Germany has undergone a profound restructuring political and economic process. When the Euro Crisis broke out, Germany was no longer the “sick man” of Europe. Instead, it had recovered its dominance as the strongest and wealthiest economy within the European Union. With the European Debt Crisis, that has been taking place in the European Union since the end of 2009, Germany´s Chancellor Angela Merkel has gained the power of deciding, so to say, on the fate of the debtor nations, but she neither stands for binding German commitments, nor refuses assistance. A debate on whether Merkel’s hesitation has been deliberated and used as a means of coercion has arisen on international print media, and the Portuguese Press has been no exception. This study, which was conducted by using news reporting, opinion articles, interviews and editorials, published in the Portuguese weekly Expresso and the daily Público, from 2008 to 2015, tries to show how Merkel’s hesitation, depicted in the press by the term “Merkiavelli”, was perceived in Portugal, a country that had to embrace the austerity measures, imposed by the European Central Bank, but defined under Angela Merkel´s leading role.

Keywords: Euro crisis, “Merkiavelli”, cultural studies, Portuguese quality press

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Authors: Alireza Assareh, Fatemeh Havas Beigi, Mohammad Vafaee Yeganeh

Abstract:

The present study is conducted to investigate the relationship between organizational culture and the establishment of knowledge management in the Central Insurance of Iran. The research results revealed that there is a significant positive relationship between organizational culture and its elements that include management support, organizational belonging, individual innovation, and leadership style and the establishment of knowledge management in the central insurance of Iran and that there isn’t any significant relationship between conflict resolution and the establishment of knowledge management in the central insurance of Iran.

Keywords: organizational culture, knowledge management, central insurance of Iran, individual innovation

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Authors: Inezia Aurelia, Soebowo Musa

Abstract:

Many firms still fail to develop organizational agility. There are more than 40% of organizations think that they are low/not agile in facing market change. Organizational culture plays an important role in developing the organizations to be adaptive in order to manage the VUCA effectively. This study examines the relationships of organizational culture towards participative leadership, employee satisfaction, employee work motivation, organizational learning, and absorptive capacity in developing organizational agility in managing the VUCA environment. 263 employees located from international chemical-based company offices across the globe who have worked for more than three years were the respondents in this study. This study showed that organizational clan culture promotes the development of participative leadership, which it has an empowering effect on people in the organization resulting in employee satisfaction. The study also confirms the role of organizational culture in creating organizational behavior within the organization that fosters organizational learning, absorptive capacity, and organizational agility, while the study also found that the relationship between participative leadership and employee work motivation is not significant.

Keywords: absorptive capacity, employee satisfaction, employee work motivation, organizational agility, organizational culture, organizational learning, participative leadership

Procedia PDF Downloads 124