Search results for: financial services marketing

Authors: Alhamdi Alfi Fajri

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The purpose of this study is to analyze and to give empirical proof about the effect of fair value implementation on financial asset against information asymmetry in Indonesia’s banking sector. This research tested the effect of fair value implementation on financial asset based on Statement of Financial Accounting Standard (PSAK) No. 55 and the fair value reliability measurement based on PSAK No. 60 against level of information asymmetry. The scope of research is Indonesia’s banking sector. The test’s result shows that the use of fair value based on PSAK No. 55 is significantly associated with information asymmetry. This positive relation is higher than the amortized cost implementation on financial asset. In addition, the fair value hierarchy based on PSAK No. 60 is significantly associated with information asymmetry. This research proves that the more reliable measurement of fair value on financial asset, the more observable fair value measurement and reduces level of information asymmetry.

Keywords: fair value, PSAK No. 55, PSAK No. 60, information asymmetry, bank

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Authors: Rubab Ashiq, Bazaz Pinky

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Over the last decade, the emerging phenomenon of fashion blogging has altered the fashion landscape by providing new avenues of marketing to the fashion brands and designers. Given the growing popularity of this trend, there is a potential research scope within the developing fashion markets in South Asia as the majority of the previous studies have been centralized in the context of an established fashion industry. Therefore, the aim of this paper is to provide an insight on how these newly established marketplaces can benefit by incorporating fashion blogging as a marketing tool in a cross-cultural context. For this reason, the established fashion industry of UK and emerging fashion market of Pakistan was chosen to address the impact of cross-cultural differences on blogging based on the idea of individualism and collectivism. The study used a qualitative approach, using the semi-structured interviews with the fashion industry professionals including PR experts, fashion designers and fashion bloggers Additionally, a questionnaire was designed to gauge consumer’s perception of the blogging from the chosen fashion industries. It is established through the research findings that blogging has evolved from a trend to a strategic public relations and marketing tool in the established fashion industry, which is progressively growing its roots in the new emerging fashion markets. Furthermore, it is evaluated from the research that the cross-cultural differences have a positive impact on fashion blogging. Thus, this research paper serves as the guideline for the emerging fashion markets to incorporate fashion blogging as a marketing tool which can facilitate effective cross-cultural communication.

Keywords: blogging, digital marketing, cross-cultural, social media

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Authors: Vera Jancurova

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The financial theory is dominated by the believe that weekday effect has disappeared from current markets. The purpose of this article is to study anomalies, especially weekday effect, at real markets that disrupt the efficiency of financial markets. The research is based on the analyses of historical daily exchange rates of significant world indices to determine the presence of weekday effects on financial markets. The methodology used for the study is based on the analyzes of daily averages of particular indexes for different time periods. Average daily gains were analyzed for their whole time interval and then for particular five and ten years periods with the aim to detect the presence on current financial markets. The results confirm the presence of weekday effect at the most significant indices - for example: Nasdaq, S & P 500, FTSE 100 and the Hang Seng. It was confirmed that in the last ten years, the weekend effect disappeared from financial markets. However in last year’s the indicators show that weekday effect is coming back. The study shows that weekday effect has to be taken into consideration on financial markets, especially in the past years.

Keywords: indices, anomalies, behavioral finance, weekday effect

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Authors: Isari Pairoa, Proud Arunrangsiwed

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Brand mascots are the cartoon characters, which are mainly designed for advertising or other related marketing purposes. Many brand mascots are extremely popular, since they were presented in commercial advertisements and Line Stickers. Brand Line Stickers could lead the users to identify with the brand and brand mascots, where might influence users to become loyal customers, and share the identity with the brand. The objective of the current study is to examine the effect of brand mascots on consumers’ decision and consumers’ intention to purchase the product. This study involved 400 participants, using cluster sampling from 50 districts in Bangkok metropolitan area. The descriptive analysis shows that using brand mascot causes consumers' positive attitude toward the products, and also heightens the possibility to purchasing the products. The current study suggests the new type of marketing strategy, which is brand fandom. This study has also contributed the knowledge to the area of integrated marketing communication and identification theory.

Keywords: brand mascot, consumers’ behavior, marketing communication, purchasing

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Authors: Sunil Sangwan, Narayan Chandra Nayak

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Over the last few decades, Indian banking system has achieved remarkable growth in its credit volume. However, one of the most disturbing facts about this growth is the uneven distribution of financial services across regions. Having witnessed limited success from all the earlier efforts towards financial inclusion targeting the rural poor and the underprivileged, provision of microfinance, of late, has emerged as a supplementary mechanism. There are two prominent modes of microfinance distribution in India namely Bank-SHG linkage (SBLP) and private Microfinance Institutions (MFIs). Ironically, such efforts also seem to have failed to achieve the desired targets as the microfinance services have witnessed skewed distribution across the states of the country. This study attempts to make a comparative analysis of the geographical skew of the SBLP and MFI in India and examine the factors influencing their regional distribution. The results indicate that microfinance services are largely concentrated in the southern region, accounting for about 50% of all microfinance clients and 49% of all microfinance loan portfolios. This is distantly followed by an eastern region where client outreach is close to 25% only. The north-eastern, northern, central, and western regions lag far behind in microfinance sectors, accounting for only 4%, 4%, 10%, and 7 % client outreach respectively. The penetration of SHGs is equally skewed, with the southern region accounting for 46% of client outreach and 70% of loan portfolios followed by an eastern region with 21% of client outreach and 13% of the loan portfolio. Contrarily, north-eastern, northern, central, western and eastern regions account for 5%, 5%, 10%, and 13% of client outreach and 3%, 3%, 7%, and 4% of loan portfolios respectively. The study examines the impact of literacy rate, rural poverty, population density, primary sector share, non-farm activities, loan default behavior and bank penetration on the microfinance penetration. The study is limited to 17 major states of the country over the period 2008-2014. The results of the GMM estimation indicate the significant positive impact of literacy rate, non-farm activities and population density on microfinance penetration across the states, while the rise in loan default seems to deter it. Rural poverty shows the significant negative impact on the spread of SBLP, while it has a positive impact on MFI penetration, hence indicating the policy of exclusion being adhered to by the formal financial system especially towards the poor. However, MFIs seem to be working as substitute mechanisms to banks to fill the gap. The findings of the study are a pointer towards enhancing financial literacy, non-farm activities, rural bank penetration and containing loan default for achieving greater microfinance prevalence.

Keywords: bank penetration, literacy rate, microfinance, primary sector share, rural non-farm activities, rural poverty

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Authors: Francesco Pinci

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This research investigates the significance of product packaging as an effective marketing tool. By using commercially available pasta as an example, the study specifically examines the visual components of packaging, including color, shape, packaging material, and logo. The insights gained from studies like this are particularly valuable to food and beverage companies as they provide marketers with a deeper understanding of the factors influencing consumer purchasing decisions. The research analyzes data collected through surveys conducted via Google Forms and visual data obtained using iMotions eye-tracker software. The results affirm the importance of packaging design elements, such as color and product information, in shaping consumer buying behavior.

Keywords: consumer behaviour, eyetracker, food marketing, neuromarketing

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Authors: Theresia Dwi Hastuti, Kristiana Haryanti, Agustine Eva Maria Soekesi

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Today's family business continues to grow in big cities and in rural areas throughout Indonesia in line with the development of the business world and global competition. This study aims to analyze the effect of company value, leadership, and ownership succession on the financial performance of the family business. The research method was carried out quantitatively with multiple regression. The respondent amounted to 63 entrepreneurs. This study found that company value, leadership succession, relationships, and communication affect the financial performance of the family business.

Keywords: company value, family business, financial performance, leadership succession, ownership succession

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Authors: Patience Oluchi Silas, Yemi Adeshina

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Financial transactions involving the use of the internet has become an important practice among commercial banks in Nigeria with the introduction of internet banking and this has improved banking efficiency in rending services to customers. However, customers in Lagos State are enslaved in the fear of insecurity, technical failure, inadequate operational facilities, including improper telecommunications and poor power supply. It is in line with this that this paper explores the obstacles faced by Lagosians, tourists, small scale business owners, companies, customers and the government's attitude in addressing the challenges associated with online banking system in Nigeria through relevant legislations. Internet banking has the potential to transform economic activity and achieve developmental goals. If the associated Challenges are addressed quickly, then it will have the desired impact on the Nigerian economy. In this study, Respondents, mostly bank employees and customers were issued well designed and structured questionnaires to effectively examine the new developments brought about by the introduction of Internet banking and the challenges inhibiting its adoption. Hypotheses were formulated to test assumptions and claims generated from the study. The results were statistically analyzed to address the issues of errors and chances, and at the end, the result of the statistical analysis shows that all especially insecurity, inadequate operational facilities and poor power supply are the significant factors affecting the adoption of internet banking services in Nigeria. The study recommends that for internet banking to assume a developmental dimension in Nigeria and for the country to be fully integrated and respected in global financial environment, the prevalent level of frauds in Lagos State and among Nigerians must first be addressed and the relevant local laws should be put in place and in consonance with international laws and conventions; get the citizens well educated on the intricacies of Internet usage and frauds.

Keywords: internet-banking, adoption, challenges, insecurity, legislation, fraud, Lagos state, statistics

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Authors: Mercy Marimirofa, Farai Machinga, Alfred Zvoushe, Tsitsidzaishe Musvosvi

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The Government of Zimbabwe embarked on integrating family planning with Sexually Transmitted Infection (STI) and Human Immunodeficiency Virus (HIV) services in May 2020 with support from the World Health Organization (WHO). There was high HIV prevalence, incidence rates and STI infections among women attending FP clinics. Spilhaus is a specialized center of excellence clinic which offers a range of sexual reproductive health services. HIV services were limited to testing only, and clients were referred to other facilities for further management. Integration of services requires that all the services be available at one point so that clients will access them during their visit to the facility. Objectives: The study was conducted to assess the impact the one-stop-shop model has made in accessing integrated Family Planning services and sexual reproductive health services compared to the supermarket approach. It also assessed the relationship family planning services have with other sexual reproductive health services. Methods: A secondary data analysis was conducted at Spilhaus clinic in Harare using family planning registers and HIV services registers comparing years 2019 and 2021. A 2 sample t-test was used to determine the difference in clients accessing the services under the two models. A Spearman’s rank correlation was used to determine if accessing family planning services has a relationship with other sexual reproductive health services. Results: In 2019, 7,548 clients visited the Spilhaus clinic compared to 8,265 during the period January to December 2021. The median age for all clients accessing services was 32 years. An increase of 69% in the number of services accessed was recorded from 2019 to 2021. More services were accessed in 2021. There was no difference in the number of clients accessing family planning services cervical cancer, and HIV services. A difference was found in the number of clients who were offered STI screening services. There was also a relationship between accessing family planning services and STI screening services (ρ = 0.729, p-value=0.006). Conclusion: Programming towards SRH services was a great achievement, the use of an integrated approach proved to be cost-effective as it minimised the required resources for separate programs. Clients accessed important health needs at once. The integration of these services provided an opportunity to offer comprehensive information which addressed an individual’s sexual reproductive health needs.

Keywords: intergration, one stop shop, family planning, reproductive health

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Authors: Angie Al Habib, Khalid Al Siyabi

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To measure or asses any government’s efficiency we need to measure the performance of this government in regards to the quality of the service it provides. Using a technological platform in service provision became a trend and a public demand. It is also a public need to make sure these services are aligned to values and to the whole government’s strategy, vision and goals as well. Providing services using technology tools and channels can enhance the internal business process and also help establish many essential values to government services like transparency and excellence, since in order to establish e-services many standards and policies must be put in place to enable the handing over of decision making to a mature system oriented mechanism. There was no doubt that the Sultanate of Oman wanted to enhance its services and move it towards automation and establishes a smart government as well as links its services to life events. Measuring government efficiency is very essential in achieving social security and economic growth, since it can provide a clear dashboard of all projects and improvements. Based on this data we can improve the strategies and align the country goals to them.

Keywords: government, maturity, Oman, performance, service

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Authors: Samah Benmerbi, Kamal Amroun, Abdelkamel Tari

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The increasing number of Web service (WS)providers throughout the globe, have produced numerous Web services providing the same or similar functionality. Therefore, there is a need of tools developing the best answer of queries by selecting and composing services with total transparency. This paper reviews various QoS based Web service selection mechanisms and architectures which facilitate qualitatively optimal selection, in other fact Web service composition is required when a request cannot be fulfilled by a single web service. In such cases, it is preferable to integrate existing web services to satisfy user’s request. We introduce an automatic Web service composition method based on hypergraph decomposition using hypertree decomposition method. The problem of selection and the composition of the web services is transformed into a resolution in a hypertree by exploring the relations of dependency between web services to get composite web service via employing an execution order of WS satisfying global request.

Keywords: web service, web service selection, web service composition, QoS, hypergraph decomposition, BE hypergraph decomposition, hypertree resolution

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Authors: Hasanein Hasan, Mohammed Al-Taie, Basil Shanshool, Khalaf Abd-Ali

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This approach aims to deal with establishing and operating Iraqi Fibre-To-The-Home (FTTH) projects. The problems they suffer from are organized sabotage, vandalism, accidental damage and poor planning. It provides practical solutions that deal with the aforementioned problems. These solutions consist of both technical and financial clarifications that ensure the achievement of the FTTH network’s stability for the purpose of equipping citizens, private sector companies, and governmental institutions with services, data transmission, the Internet, and other services. They aim to solve problems and obstacles accompanying the operation and maintenance of FTTH projects implemented by the Informatics and Telecommunications Public Company (ITPC)/ Iraqi Ministry of Communications (MoC). This approach takes the FTTH network of AlMaalif-AlMuaslat districts/ Baghdad-Iraq as a case study.

Keywords: CCTV, FTTH, ITPC, MoC, NVR, PTZ

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Authors: Sabri Serkan Güllüoğlu

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Analysis can be defined as the process of gathering, recording and researching data related to products and services, in order to learn something. But for marketers, analyses are not only used for learning but also an essential and critical part of the business, because this allows companies to offer products or services which are focused and well targeted. Market analysis also identify market trends, demographics, customer’s buying habits and important information on the competition. Data mining is used instead of traditional research, because it extracts predictive information about customer and sales from large databases. In contrast to traditional research, data mining relies on information that is already available. Simply the goal is to improve the efficiency of supermarkets. In this study, the purpose is to find dependency on products. For instance, which items are bought together, using association rules in data mining. Moreover, this information will be used for improving the profitability of customers such as increasing shopping time and sales of fewer sold items.

Keywords: data mining, association rule mining, market basket analysis, purchasing

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Authors: Trisiladi Supriyanto

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Although much research has been done on the pricing benchmark both in terms of fiqh or Islamic economic perspective, but no substitution for the concept of interest (rate of interest) up to now in the application of Islamic Banking because some of the jurists from the middle east even allow the use of a benchmark rate such as LIBOR (London Interbank Offered Rate) as a measure of Islamic financial asset prices, so in other words, they equate the concept of rate of interest with the concept of rate of profit, which is the core reason (raison detre) for the replacement of usury as instructed in the Quran. This study aims to find the concept of rate of profit on Islamic banking that can create economic justice and stability in Islamic Banking and Capital market. Rate of profit that creates economic justice and stability can be achieved through its role in maintaining the stability of the financial system in which there is an equitable distribution of income and wealth. To determine the role of the rate of profit as the basis of the sharing system implemented in the Islamic financial system, we can see the connection of rate of profit in creating financial stability, especially in the asset-liability management of financial institutions that generate a stable net margin or the rate of profit that is not affected by the ups and downs of the market risk factors including indirect effect on interest rates. Furthermore, Islamic financial stability can be seen from the role of the rate of profit on the stability of the Islamic financial assets that are measured from the Islamic financial asset price volatility in Islamic Bond Market in Capital Market.

Keywords: Rate of profit, economic justice, stability, equitable distribution of income, equitable distribution of wealth

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Authors: Anam Bhatti, Sumbal Arif, Mariam Mehar, Sohail Younas

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CSR has become one of the imperative implements in satisfying customers. The impartial of this research is to calculate CSR, relationship marketing, and customer satisfaction. In Pakistan, there is not enough research work on the effect of CSR and relationship marketing on relationship maintainer and customer loyalty. To find out deductive approach and survey method is used as research approach and research strategy respectively. This research design is descriptive and quantitative study. For data, collection questionnaire method with semantic differential scale and seven point scales are adopted. Data has been collected by adopting the non-probability convenience technique as sampling technique and the sample size is 400. For factor confirmatory factor analysis, structure equation modeling and medication analysis, regression analysis Amos software were used. Strong empirical evidence supports that the customer’s perception of CSR performance is highly influenced by the values.

Keywords: CSR, Relationship marketing, Relationship maintainer, Customer loyalty, Customer satisfaction

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Authors: Ibrahim Aliyu Isah, Mohd Mansor Ismail, Salim Hassan, Norsida Bint Man

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Global and National contributions of Extension Agents in income derive through stingless beekeeping production as acknowledged globally as a new source of wealth creation, which contributes significantly to the positive, sustainable economic growth of Malaysia. A common specie, Trigona itama, production through effective utilization of highly competent agents of extension services led to high increase of output that guaranteed high income and sustainability to farmers throughout the study areas. A study on impacts of extension services on stingless bee production and its profitability and sustainability in both Peninsular Malaysia and East (Sarawak) Malaysia was conducted with the following objectives: (i) to examined various impacts of extension services on sustainability as variables in enhancing stingless beekeeping production for positive profitability. (ii) to determine the profitability and sustainability of stingless beekeeping production in the study area through transfer of technology and human resources development. The study covers a sample of beekeepers in ten states of Peninsular Malaysia and Sarawak. The sample size of 87 respondents were selected out of the population and 54 of filled questionnaires were retrieved. Capital budgeting analysis was carried out and economic performance was evaluated. Data collected was analysed using SPSS version 23.0. Correlation and Regression analyses were used. The capital budgeting analysis and government incentive schemes was incorporated in the applied projection of stingless bee farms. The result of Net Present Value (NPV) is determined as an accepted projection to the financial appraisal. The NPV in the study indicated positive outcome of production that can generate positive income and indicated efficient yield of investment and Profitability index (PI). In summary, it is possible for the extension services to increase output and hence increase profit which is sustainable for growth and development of agricultural sector in Malaysia.

Keywords: extension services, impacts, profitability and sustainability, Sarawak and peninsular Malaysia, trigona itama production

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Authors: Jin Sheng

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This paper addresses a promising area of insurance sector to develop in Asia. Captive insurance, which provides risk-mitigation services for its parent company, has great potentials to develop in energy, infrastructure, agriculture, logistics, catastrophe, and alternative risk transfer (ART), and will greatly affect the framework of insurance industry. However, the Asian captive insurance market only takes a small proportion in the global market. The recent supply chain interruption case of Hanjin Shipping indicates the significance of risk management for an Asian company’s sustainability and resilience. China has substantial needs and great potentials to develop captive insurance, on account of the currency volatility, enterprises’ credit risks, and legal and operational risks of the Belt and Road initiative. Up to date, Mainland Chinese enterprises only have four offshore captives incorporated by CNOOC, Sinopec, Lenovo and CGN Power), three onshore captive insurance companies incorporated by CNPC, China Railway, and COSCO, as well as one industrial captive insurance organization - China Ship-owners Mutual Assurance Association. Its captive market grows slowly with one or two captive insurers licensed yearly after September 2011. As an international financial center, Hong Kong has comparative advantages in taxation, professionals, market access and well-established financial infrastructure to develop a functional captive insurance market. For example, Hong Kong’s income tax for an insurance company is 16.5%; while China's income tax for an insurance company is 25% plus business tax of 5%. Furthermore, restrictions on market entry and operations of China’s onshore captives make establishing offshore captives in international or regional captive insurance centers such as Singapore, Hong Kong, and other overseas jurisdictions to become attractive options. Thus, there are abundant business opportunities in this area. Using methodology of comparative studies and case analysis, this paper discusses the incorporation, regulatory issues, taxation and prospect of captive insurance market in Hong Kong, China and Singapore. Hong Kong and Singapore are both international financial centers with prominent advantages in tax concessions, technology, implementation, professional services, and well-functioning legal system. Singapore, as the domicile of 71 active captives, has been the largest captive insurance hub in Asia, as well as an established reinsurance hub. Hong Kong is an emerging captive insurance hub with 5 to 10 newly licensed captives each year, according to the Hong Kong Financial Services Development Council. It is predicted that Hong Kong will become a domicile for 50 captive insurers by 2025. This paper also compares the formation of a captive in Singapore with other jurisdictions such as Bermuda and Vermont.

Keywords: Alternative Risk Transfer (ART), captive insurance company, offshore captives, risk management, reinsurance, self-insurance fund

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Authors: Humayun Murshed, Shibly Abdullah

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The research conducted in early seventies apparently assumed the existence of a universal decision model for union negotiators and furthermore tended to regard financial information as a ‘neutral’ input into a rational decision-making process. However, research in the eighties began to question the neutrality of financial information as an input in collective bargaining rather viewing it as a potentially effective means for controlling the labour force. Furthermore, this later research also started challenging the simplistic assumptions relating particularly to union objectives which have underpinned the earlier search for universal union decision models. Despite the above developments there seems to be a dearth of studies in developing countries concerning the use of financial information in collective bargaining. This paper seeks to begin to remedy this deficiency. Utilising a case study approach based on two enterprises, one in the public sector and the other a multinational, the universal decision model is rejected and it is argued that the decision whether or not to use financial information is a contingent one and such a contingency is largely defined by the context and environment in which both union and management negotiators work. An attempt is also made to identify the factors constraining as well as promoting the use of financial information in collective bargaining, these being regarded as unique to the organizations within which the case studies are conducted.

Keywords: collective bargaining, developing countries, disclosures, financial information

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Authors: Marco Sewald

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Due to the current enforcement of exterritorial U.S. legislation, up to 9 million U.S. (dual) citizens residing abroad are subject to U.S. double and surcharge taxation and at risk of losing access to otherwise basic financial services and investment opportunities abroad. The United States is the only OECD country that taxes non-resident citizens, lawful permanent residents and other non-resident aliens on their worldwide income, based on local U.S. tax laws. To enforce these policies the U.S. has implemented ‘saving clauses’ in all tax treaties and implemented several compliance provisions, including the Foreign Account Tax Compliance Act (FATCA), Qualified Intermediaries Agreements (QI) and Intergovernmental Agreements (IGA) addressing Foreign Financial Institutions (FFIs) to implement these provisions in foreign jurisdictions. This policy creates systematic cases of double and surcharge taxation. The increased enforcement of compliance rules is creating additional report burdens for U.S. persons abroad and FFIs accepting such U.S. persons as customers. FFIs in Europe react with a growing denial of specific financial services to this population. The numbers of U.S. citizens renouncing has dramatically increased in the last years. A case study is chosen as an appropriate methodology and research method, as being an empirical inquiry that investigates a contemporary phenomenon within its real-life context; when the boundaries between phenomenon and context are not clearly evident; and in which multiple sources of evidence are used. This evaluative approach is testing whether the combination of policies works in practice, or whether they are in accordance with desirable moral, political, economical aims, or may serve other causes. The research critically evaluates the financial and non-financial consequences and develops sufficient strategies. It further discusses these strategies to avoid the undesired consequences of exterritorial U.S. legislation. Three possible strategies are resulting from the use cases: (1) Duck and cover, (2) Pay U.S. double/surcharge taxes, tax preparing fees and accept imposed product limitations and (3) Renounce U.S. citizenship and pay possible exit taxes, tax preparing fees and the requested $2,350 fee to renounce. While the first strategy is unlawful and therefore unsuitable, the second strategy is only suitable if the U.S. citizen residing abroad is planning to move to the U.S. in the future. The last strategy is the only reasonable and lawful way provided by the U.S. to limit the exposure to U.S. double and surcharge taxation and the limitations on financial products. The results are believed to add a perspective to the current academic discourse regarding U.S. citizenship based taxation, currently dominated by U.S. scholars, while providing sufficient strategies for the affected population at the same time.

Keywords: citizenship based taxation, FATCA, FBAR, qualified intermediaries agreements, renounce U.S. citizenship

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Authors: Hoda Ghorbani

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Today, many markets are matured and faced by a congested competition and amount of supply that is quite greater than demand. With respect to such modifications, organizations shall make themselves more equipped beforehand and ready to tackle with their rivals. In this regard, Relationship Marketing tries to lower the cost for attracting new customers by establishment and maintenance long run relations with the current customers and by which they try to increase corporative profitability. Consequently, identifying of relationship marketing and its effective factors is an essential element for maintenance of market and improvement of corporative competition potential. The present study deals with identifying the effective factors on marketing relationship in National Iranian Drilling Company (NIDC) from managers’ point of view. Methodology of this study is of descriptive- survey type. In addition to an extensive review on secondary sources and interview with experienced members in NIDC, researcher identified the related factors and distributed a questionnaire, including 31 questions, among 144 participants from corporative managers and first-rank principals. After gathering information, the related data have been analyzed by using binomial test as well as Binomial Analytic Hierarchy Process (AHP) of pair-wise comparisons. Study results showed that some variable like communication, commitment, Conflict Management and trust have affected on relationship marketing based on their order preference.

Keywords: marketing relationship, trust, commitment, communication, conflict management

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Authors: Marco Barassi, Nicola Spagnolo

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This paper uses a DCC-GARCH model framework to examine mean and volatility spillovers (i.e. causality in mean and variance) dynamics between financial centers and the stock market indexes of the BRICS countries. In addition, tests for changes in the transmission mechanism are carried out by first testing for structural breaks and then setting a dummy variable to control for the 2008 financial crises. We use weekly data for nine countries, four financial centers (Germany, Japan, UK and USA) and the five BRICS countries (Brazil, Russia, India, China and South Africa). Furthermore, we control for monetary policy using domestic interest rates (90-day Treasury Bill interest rate) over the period 03/1/1990 - 04/2/2014, for a total of 1204 observations. Results show that the 2008 financial crises changed the causality dynamics for most of the countries considered. The same pattern can also be observed in conditional correlation showing a shift upward following the turbulence associated to the 2008 crises. The magnitude of these effects suggests a leading role played by the financial centers in effecting Brazil and South Africa, whereas Russia, India and China show a higher degree of resilience.

Keywords: financial crises, DCC-GARCH model, volatility spillovers, economics

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Authors: Hajer Taktak, Faouzi Moussa

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With the ubiquitous computing’s emergence and the evolution of enterprises’ needs, one of the main challenges is to build context-aware applications based on Web services. These applications have become particularly relevant in the pervasive computing domain. In this paper, we introduce our approach that optimizes the use of Web services with context notions when dealing with contextual environments. We focus particularly on making Web services autonomous and natively context-aware. We implement and evaluate the proposed approach with a pedagogical example of a context-aware Web service treating temperature values. 

Keywords: context-aware, CXF framework, ubiquitous computing, web service

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Authors: Yuhan Lin, Rohan Kekatpure, Cassidy Yeung

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In Digital Marketing, robust quantification of View-through attribution (VTA) is necessary for evaluating channel effectiveness. VTA occurs when a product purchase is aided by an Ad but without an explicit click (e.g. a TV ad). A lack of a tracking mechanism makes VTA estimation challenging. Most prevalent VTA estimation techniques rely on post-purchase in-product user surveys. User surveys enable the calculation of channel multipliers, which are the ratio of the view-attributed to the click-attributed purchases of each marketing channel. Channel multipliers thus provide a way to estimate the unknown VTA for a channel from its known click attribution. In this work, we use Convex Optimization to compute channel multipliers in a way that enables a mathematical encoding of the expected channel behavior. Large fluctuations in channel attributions often result from overfitting the calculations to user surveys. Casting channel attribution as a Convex Optimization problem allows an introduction of constraints that limit such fluctuations. The result of our study is a distribution of channel multipliers across the entire marketing funnel, with important implications for marketing spend optimization. Our technique can be broadly applied to estimate Ad effectiveness in a privacy-centric world that increasingly limits user tracking.

Keywords: digital marketing, survey analysis, operational research, convex optimization, channel attribution

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Authors: Giulia Dal Maso

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Within the contemporary financial capitalist configuration, the interplay of Chinese statecraft and financialization has shaped a new ‘ecology of financial expertise.’ This indicates the emergence of a new financial technocratic governance; that is increasingly changing the Chinese economy, reducing the state’s administrative and fiscal functions and increasing state assets in accordance with a new shareholder logic. In this shift, the creation of the stock market by the state was conceived not only as a new redistributor of wealth but as a ‘clearing house’ for social discontent resulting from work casualization, wage repression and a lack of social welfare. Since its inception in the wake of Deng Xiaoping’s reforms, the Chinese state has used the stock market as a means of securing social legitimation by providing a prearranged space where the disaggregated and vulnerable subjects left behind by the dismantlement of the collective work units of the Maoist period (danwei) can congregate. However, fieldwork which included both participant observation as well as interviews with investors in brokerage rooms in Shanghai (where one of only two mainland Chinese stock exchanges is situated) reveals that both new formal and informal financial experts—namely the haigui (Chinese returnees with a financial degree abroad) and sanhu (individual Chinese scattered players), are equally dissatisfied with their investing activities. They express discontent with the state, which they hold responsible for the summer 2015 financial crisis and for the financial turmoil that jeopardizes China’s financial and political project. What the investors want is a state that will guarantee the continuation of the current gupiaore ‘stock fever’. This paper holds that, by embracing financialization, the state is undermining the contract at the base of its legitimacy.

Keywords: Chinese state, Deng Xiaoping, financial capitalism, individual investors

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Authors: Müberra Yüksel, Ömer Faruk Görçün

Abstract:

The purpose of the present study is to investigate the role of strategic human resource management (SHRM) in constructing "employer branding" in logistics. Prior research does not focus on internal stakeholders, that is, employees. Despite the fact that logistic sector has become customer-oriented, the focus is solely on service quality as the unique aspect of logistic companies for competitive advantage. With an increasing interest lately in internal marketing of the employer brand, the emphasis is on the value that human capital brings to the firm which cannot be imitated. `Employer branding` has been the application of branding and relationship marketing principles for competitive advantage in SHRM. Employer branding is an organizing framework for human resource managers since it represents an organization’s efforts to promote, both within and outside, a coherent view of what makes the firm different and desirable as an employer, i.e., the distinct “employer brand personality” and "employee value propositions" (EVP) offered. The presumption of employer branding enhanced by internal marketing is to make customer-conscious employees to handle services better by being aligned with business mission and goals. Starting from internal customers and analyzing the gaps of EVP by using analytical hierarchy process methodology (AHP) and inquiring whether these brand values are communicated and conceived well may be the initial steps in our proposal for employer branding in logistics sector. This empirical study aims to fill this research gap within the context of an emergent market- Turkey, which is located at a hub of transportation and logistics.

Keywords: Strategic Human Resource Management (SHRM), employer branding, Employee Value Propositions (EVP), Analytical Hierarchy Process (AHP), logistics

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Authors: Chow Fah Yee, Eu Chye Tan

Abstract:

The main purpose of developing a modern and sophisticated financial system is to mobilize and allocate the country’s resources for productive uses and in the process contribute to economic growth. Financial liberalization introduced in Malaysia in 1978 was said to be a step towards this goal. According to Mc-Kinnon and Shaw, the deregulation of a country’s financial system will create a more efficient and competitive market driven financial sector; with savings being channelled to the most productive users. This paper aims to assess whether financial liberalization resulted in bank credit being allocated to the more productive users, for the case of Malaysia by: firstly, using Chi-square test to if there exists a relationship between financial liberalization and bank lending in Malaysia. Secondly, to analyze on a comparative basis, the share of loans secured by 9 major economic sectors, using data on bank loans from 1975 to 2003. Lastly, present value analysis and rank correlation was used to determine if the recipients of bigger loans are the more efficient users. Chi-square test confirmed the generally observed trend of an increase in bank credit with the adoption of financial liberalization. While the comparative analysis of loans showed that the bulk of credit were allocated to service sectors, consumer loans and property related sectors, at the expense of industry. Results for rank correlation analysis showed that there is no relationship between the more productive users and amount of loans obtained. This implies that the recipients (sectors) that received more loans were not the more efficient sectors.

Keywords: allocation of resources, bank credit, financial liberalization, economics

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Authors: Devina Aprilia Gunawan, Tasya Aspiranti, Inugrah Ratia Pratiwi

Abstract:

This research aims to classify the mining sector companies based on Altman’s Z-score model, and providing an analysis based on the Altman’s Z-score model’s financial ratios to provide a picture about the financial condition in mining sector companies in Indonesia and their viability in the future, and to find out the partial and simultaneous impact of each of the financial ratio variables in the Altman’s Z-score model, namely (WC/TA), (RE/TA), (EBIT/TA), (MVE/TL), and (S/TA), toward the financial condition represented by the Z-score itself. Among 38 mining sector companies listed in Indonesia Stock Exchange (IDX), 28 companies are selected as research sample according to the purposive sampling criteria.The results of this research showed that during 3 years research period at 2010-2012, the amount of the companies that was predicted to be healthy in each year was less than half of the total sample companies and not even reach up to 50%. The multiple regression analysis result showed that all of the research hypotheses are accepted, which means that (WC/TA), (RE/TA), (EBIT/TA), (MVE/TL), and (S/TA), both partially and simultaneously had an impact towards company’s financial condition.

Keywords: Altman’s Z-score model, financial condition, mining companies, Indonesia

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Authors: Ali Kharazi, Hassanali Aghajani, Hesami Azizi

Abstract:

Tourism entrepreneurship is a growing field that has the potential to create new opportunities for sustainable development. The purpose of this study is to identify and classify the entrepreneurial opportunities in the blind tourism industry in Khuzestan Province of Iran that can be created through the operation of blinds’ tours. This study used a mixed methods approach. The qualitative data was collected through semi-structured interviews with 15 tourist guides and tourism activists, while the quantitative data was collected through a questionnaire survey of 40 blind people who had participated in blinds’ tours. The findings of this study suggest that there are a number of entrepreneurial opportunities in the blind tourism industry in Khuzestan Province, including (1) developing and providing accessible tourism services, such as tours, accommodations, restaurants, and transportation, (2) creating and marketing blind-friendly tourism products and experiences (3) training and educating tourism professionals on how to provide accessible and inclusive tourism services. This study contributes to the theoretical understanding of tourism entrepreneurship by providing insights into the entrepreneurial opportunities in the blind tourism industry. The findings of this study can be used to develop policies and programs that support the development of the blind tourism industry. The qualitative data were analyzed using content analysis. The quantitative data were analyzed using descriptive statistics and inferential statistics. This study examines the entrepreneurial opportunities within the blind tourism industry in Khuzestan Province, Iran. In addition, Khuzestan province has made relatively good development in the field of blinds’ tourism. Blind tourists have become loyal customers of blinds’ tours, which has increased their self-confidence and social participation. Tourist guides and centers of tourism services are interested in participating in blinds’ tours more than before, and even other parts outside the tourism field have encouraged sponsorship. Education had a great impact on the quality of tourism services, especially for the blind. It has played a significant role in improving the quality of tourism services for the blind. However, the quality and quantity of infrastructure should be increased in different sectors of tourism services to foster future growth. These opportunities can be used to create new businesses and jobs and to promote sustainable development in the region.

Keywords: entrepreneurship, tourism, blind, sustainable development, Khuzestan

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Authors: Arzu K. Kamberli, Tolga Ulusoy

Abstract:

Technological developments and the resulting global communication have made the 21st century when large capitals are moved from one end to the other via a button. As a result, the flow of capital inflows has accelerated, and capital inflow has brought with it crisis-related infectiousness. Considering the irrational human behavior, the financial crisis in the world under the influence of the whole world has turned into the basic problem of the countries and increased the interest of the researchers in the reasons of the crisis and the period in which they lived. Therefore, the complex nature of the financial crises and its linearly unexplained structure have also been included in the new discipline, econophysics. As it is known, although financial crises have prediction mechanisms, there is no definite information. In this context, in this study, using the concept of electric field from the electrostatic part of physics, an early econophysical approach for global financial crises was studied. The aim is to define a model that can take place before the financial crises, identify financial fragility at an earlier stage and help public and private sector members, policy makers and economists with an econophysical approach. 2001 Turkey crisis has been assessed with data from Turkish Central Bank which is covered between 1992 to 2007, and for 2001 Argentina crisis, data was taken from IMF and the Central Bank of Argentina from 1997 to 2007. As an econophysical method, an analogy is used between the Gauss's law used in the calculation of the electric field and the forecasting of the financial crisis. The concept of Φ (Financial Flux) has been adopted for the pre-warning of the crisis by taking advantage of this analogy, which is based on currency movements and money mobility. For the first time used in this study Φ (Financial Flux) calculations obtained by the formula were analyzed by Matlab software, and in this context, in 2001 Turkey and Argentina Crisis for Φ (Financial Flux) crisis of values has been confirmed to give pre-warning.

Keywords: econophysics, financial crisis, Gauss's Law, physics

Procedia PDF Downloads 155

Authors: Mercedes Sepulveda, Saras Henderson, Dana Farrell, Gaby Heuft

Abstract:

In Australia, there is a significant number of Culturally and Linguistically Diverse (CALD) Grandparent Carers who are sole carers for their grandchildren. Services in the community such as accessible healthcare, financial support, legal aid, and transport to services can assist Grandparent Carers to continue to live in their own home whilst caring for their grandchildren. Community nurses can play a major role by being aware of the needs of these grandparents and link them to services via information and referrals. The CALD Grandparent Carer experiences have only been explored marginally and may be similar to the general Grandparent Carer population, although cultural aspects may add to their difficulties. This Needs-Gap Analysis aimed to uncover ‘hidden issues’ for CALD Grandparent Carers such as service gaps and actions needed to address these issues. The stakeholders selected for this Needs-Gap Analysis were drawn from relevant service providers such as community and aged care services, child and/or grandparents support services and CALD specific services. One hundred relevant service providers were surveyed using six structured questions via face to face, phone interviews, or email correspondence. CALD Grandparents who had a significant or sole role of being a carer for grandchildren were invited to participate through their CALD community leaders. Consultative Forums asking five questions that focused on the caring role, issues encountered, and what needed to be done, were conducted with the African, Asian, Spanish-Speaking, Middle Eastern, European, Pacific Islander and Maori Grandparent Carers living in South-east Queensland, Australia. Data from the service provider survey and the CALD Grandparent Carer forums were content analysed using thematic principles. Our findings highlighted social determinants of health grouped into six themes. These were; 1) service providers and Grandparent Carer perception that there was limited research data on CALD grandparents as carers; 2) inadequate legal and financial support; 3) barriers to accessing information and advice; 4) lack of childcare options in the light of aging and health issues; 5) difficulties around transport; and 6) inadequate technological skills often leading to social isolation for both carer and grandchildren. Our Needs-Gap Analysis provides insight to service providers especially health practitioners such as doctors and community nurses, particularly on the impact of caring for grandchildren on CALD Grandparent Carers. Furthermore, factors such as cultural differences, English language difficulties, and migration experiences also impacted on the way CALD Grandparent Carers are able to cope. The findings of this Need-Gap Analysis signposts some of the ‘ hidden issues’ that CALD Grandparents Carers face and draws together recommendations for the future as put forward by the stakeholders themselves.

Keywords: CALD grandparents, carer needs, community nurses, grandparent carers

Procedia PDF Downloads 313