Search results for: and medium enterprises financial institutions

Authors: Abida Zanib

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Social entrepreneurship is an attention-grabbing area to meet social needs. Stakeholders in the social sector of Pakistan, particularly investors, development activists and policy makers are considering it as an engine to economic growth and powerful tool to address social issues in inventive ways. However, absence of specific policy and legitimacy issues create hurdles in the way of success for emerging start-ups. The review of the literature reveals that research in this emerging phenomenon particularly in the case of Pakistan is inadequate. To fill this gap in the literature, this study aims to scrutinize characteristics of nascent social enterprises. The study collects data from 65-emerging social enterprises using questionnaire. The results of factor analysis highlight optimistic and driving qualities of Pakistani social entrepreneurs, which help them to survive and grow in the business world. Moreover, the study identifies several areas for improvements such as information disclosure, networking, corporate governance, mentorship programs, and trainings. The study notes that despite the absence of specific policy, dynamic entrepreneurial culture is fostering in Pakistan and recommends re-framing the education policy to support the development of social entrepreneurship.

Keywords: emerging, entrepreneurs, Pakistan, social, start-ups

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Authors: Khawla Hlel

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

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

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Authors: Abongile Zweni

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As a post-apartheid strategy to redress the social imbalances of the past, local governments are tasked with the role of delivering crucial services to their constituents. Apart from political instability, evidence shows that managers in South African municipalities lack effective financial management skills and competencies. This resulted in a failure to fulfill its administrative obligations, particularly municipal financial management. Most municipalities have, however, failed in this role, which has led them to be placed under administration by the provincial government in terms of Section 139 of the constitution of the Republic of South Africa. Thus, this study proposed a leadership conceptual framework for effectively managing ever-eroding municipal finances in South Africa. The study adopted a desktop research approach to explore the key components of leadership and municipal financial management toward the development of the conceptual framework. The study fostered a better understanding of the need for transformation in relation to the current financial management practices and sustainability of a municipality. Moreover, the conceptual framework applies not only to municipalities but also to other government departments and public authorities in the country for financial management.

Keywords: leadership, municipal finance, financial performance, management skills, municipality

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Authors: Nicoleta O. Tanase, Ciprian S. Mateescu

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This paper is concerned with the numerical study of the flow through porous media. The purpose of this project is to determine the permeability of a medium and its connection to porosity to be able to identify how the permeability of said medium can be altered without changing the porosity. The numerical simulations are performed in 2D flow configurations with the laminar solvers implemented in Workbench - ANSYS Fluent. The direction of flow of the working fluid (water) is axial, from left to right, and in steady-state conditions. The working fluid is water. The 2D geometry is a channel with 300 mm length and 30 mm width, with a different number of circles that are positioned differently, modelling a porous medium. The permeability of a porous medium can be altered without changing the porosity by positioning the circles differently (by missing the same number of circles) in the flow domain, which induces a change in the flow spectrum. The main goal of the paper is to investigate the flow pattern and permeability under controlled perturbations induced by the variation of velocity and porous medium. Numerical solutions provide insight into all flow magnitudes, one of the most important being the WSS distribution on the circles.

Keywords: CFD, porous media, permeability, flow spectrum

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Authors: Iman Shabanzadeh

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The purpose of this research is to understand the lived experience of private sector entrepreneurs in facing the sources of freedom and unfreedom and benefiting from opportunities and basic capabilities in the process of realizing entrepreneurial ability in order to get closer to the macro situation of the narrative of human development in Iranian society. Therefore, the main question of the present research is to figure out what sources of freedom and social opportunities and unfreedom entrepreneurs in Iran's society benefit from the process of transforming their potential entrepreneurial abilities into entrepreneurial and business enterprises. In terms of methodology, the current research method will be thematic analysis in the form of semi-structured interviews with entrepreneurs active in small and medium-sized enterprises in Tehran, whose process of establishing and expanding their entrepreneurial activity has been in the last two decades. By examining the possibilities and refusals of advancing these people in the three stages of 'Idea creation and desire for entrepreneurship’, ‘Starting and creating a business’, and finally, ‘Continuing and expanding the business’, the findings of the research show the impact of five main resources for people to realize their potential talents, from the stage of creating an idea to expanding their business. These sources include' family institution,’ ‘education institution,’ ‘social norms and beliefs,’ ‘government and market,’ and ‘personality components of the entrepreneur.’ Finally, the findings are reported in three levels of basic themes (fifteen items), organizing themes (five items), and comprehensive themes (one item) and in the form of a theme network.

Keywords: entrepreneurship, human development, capability, sources of freedom

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Authors: Mardiyansyah Mardiyansyah, Hendrik Maulana, Eka Kurnia Sari, Imam Baehaki, Mohammad Agus Prihandono

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Mobile device has become a key feature in Indonesian society and the economy, including government and private sector. Enterprises and government agencies already have a concern about mobile device security. However, small and medium enterprises (SME) do not have that sense yet, especially the new startups company. Indonesia has several laws, regulations, and standards for managing security in mobile devices. Currently, Indonesian information security policies have not been harmonized, each government organization and large enterprise has its own rules and policies. It leads to a conflict of interest among government agencies. This will certainly cause ineffectiveness in the implementation of policies. Therefore, an analysis of various government policies, regulations, and standards related to information security, especially on mobile devices, is carried out. This analysis is conducted to map the existing regulatory policies and standards into practical guidelines regarding NIST's information security to show the effectiveness of NIST SP 1800-4 towards existing policies. This work focused on the mapping of the NIST SP 1800-4 framework towards existing regulations, standards, and guidelines in Indonesia. The research approach is literature study to identify existing regulations, standards, and guidelines then the regulation mapped into the NIST SP 1800-4 framework and analyzed whether the framework could be applied to the organization in Indonesia. Finally, the finding and recommendations by documenting the security characteristics can be concluded. Based on the research finding, some of the regulations, standards, and guidelines in Indonesia are relevant to the elements in the NIST SP 1800-4 framework. From mapping analysis, the strength and weakness of mobile device security in Indonesia can be reported. It also can be concluded that the application of NIST SP 1800-4 can improve the effectiveness of mobile device security policies in Indonesia.

Keywords: mobile security, mobile security framework, NIST SP 1800-4, regulations

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Authors: P. Thepnarintra, S. Nikorn

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Agricultural machinery industry plays an important role in the industrial development especially the production industry of the country. There has been continuing development responding to the higher demand of the production. However, the problem in agricultural machinery production still exists. Thus, the purpose of this research is to investigate problems on fundamental factors of industry based on the entrepreneurs’ point of view. The focus was on the small and medium size industry receiving a factory license typed number 0660 from the Department of Industrial Works. The investigation was on the comparison between the management of the small and medium size agricultural industry in 3 provinces in the central region of Thailand. Population in this study consisted of 189 company managers or managing directors, of which 101 were from the small size and 88 were from the medium size industry. The data were analyzed to find percentage, arithmetic mean, and standard deviation with independent sample T-test at the statistical significance .05. The results showed that the small and medium size agricultural machinery manufacturers in the central region of Thailand reported high problems in every aspect. When compared the problems on basic factors in running the business, it was found that there was no difference statistically at .05 in managing of the small and medium size agricultural machinery manufacturers. However, there was a statistically significant difference between the small and medium size agricultural machinery manufacturers on the aspect of policy and services of the government. The problems reported by the small and medium size agricultural machinery manufacturers were the services on public tap water and the problem on politic and stability of the country.

Keywords: agricultural machinery, manufacturers, problems, on running the business

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Authors: Remy Jonkam Oben

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Using a time series approach, this study investigates how natural resources impact financial development from a global perspective over the 1980-2019 period. Some important determinants of financial development (economic growth, trade openness, population growth, and investment) have been added to the model as control variables. Unit root tests have revealed that all the variables are integrated into order one. Johansen's cointegration test has shown that the variables are in a long-run equilibrium relationship. The vector error correction model (VECM) has estimated the coefficient of the error correction term (ECT), which suggests that the short-run values of natural resources, economic growth, trade openness, population growth, and investment contribute to financial development converging to its long-run equilibrium level by a 23.63% annual speed of adjustment. The estimated coefficients suggest that global natural resource rent has a statistically-significant negative impact on global financial development in the long-run (thereby validating the financial resource curse) but not in the short-run. Causality test results imply that neither global natural resource rent nor global financial development Granger-causes each other.

Keywords: financial development, natural resources, resource curse hypothesis, time series analysis, Granger causality, global perspective

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Authors: Sawarni Hasibuan, Juliza Hidayati

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Competitiveness and sustainability issues not only put pressure on big companies, but also small and medium enterprises (SMEs). SMEs Batik Bogor is one of the local culture-based creative industries in Bogor city which is also dealing with the issue of sustainability. The purpose of this research is to develop framework of sustainability at SMEs Batik Indonesia case of SMEs Batik Bogor by integrating innovation of cleaner production in its supply chain. The approach used is desk study, field survey, in-depth interviews, and benchmarking best practices of SMEs sustainability. In-depth interviews involve stakeholders to identify the needs and standards of sustainability of SMEs Batik. Data analysis was done by benchmarking method, Multi Dimension Scaling (MDS) method, and Strength, Weakness, Opportunity, Threat (SWOT) analysis. The results recommend the framework of sustainability for SMEs Batik in Indonesia. The sustainability status of SMEs Batik Bogor is classified as Moderate Sustainable. Factors that support the sustainability of SMEs Batik Bogor such is a strong commitment of top management in adopting cleaner production innovation and creativity approach. Successful cleaner production innovations are implemented primarily in the substitution of dye materials from toxic to non-toxic, reducing the intensity of non-renewable energy use, as well as the reuse and recycle of solid waste. “Mosaic Batik” is one of the innovations of solid waste utilization of batik waste produced by company R&D center that gives benefit to three pillars of sustainability, that is financial benefit, environmental benefit, and social benefit. The sustainability of SMEs Batik Bogor cannot be separated from the support of Bogor City Government which proactively facilitates the promotion of sustainable innovation produced by SMEs Batik Bogor.

Keywords: cleaner production innovation, creativity, SMEs Batik, sustainability supply chain

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Authors: Olga Shvetsova

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The research paper contains the different issues of competence management in innovation companies. The theoretical bases of human resources management and practical issues of innovative enterprises’ competitiveness are considered. The research is focused on the modern innovative enterprise management problems; it focuses on the effective management of the personnel of innovative enterprises on the basis of competence approach. The concept of core competence approach is discussed. The point of view, that the key competences of the company create the competitive advantages, support strategy development and protect business from external negative factors is considered. The used methodology is background research.

Keywords: competence model, competitiveness, innovation management, implementation

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Authors: Szilvia Vincze, Zoltán Bács

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It has become increasingly important for institutions of higher education as well to use available resources as effectively as possible for the implementation of the institution’s strategic plans and, at the same time, to ensure a stable future. This is the responsibility of the management and administration of the institution. Having access to complete and comprehensive information is indispensable for making dynamic and well-founded decisions that consider the realization of objectives to be primary and that manage possibly emerging risks, etc. The present paper introduces the role of Management Information Systems (MIS) at the University of Debrecen, one of the largest institutions of higher education in Hungary, and also discusses the utilization of this and associated information systems in management functions.

Keywords: management information system (MIS), higher education, Hungary, strategy formulation

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Authors: Ayşe Çoban, Orhan Çoban, Murat Birekul

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In this study, the effects of radio frequency identification system on the retailing sector were theoretically analysed. The technology of Radio Frequency Identification (RFID) is a method enabling to identify the objects individually and automatically, using radio frequency. RFID generally consists of a tag and reader. RFID tags can be programmed to receive, store, and send the information of object such as Electronic Product Code (EPC). Having read the tags placed on product by the reader, the information associated with the management of supply chain can be automatically recorded and replaced. Recently, RFID technology used in many areas has particularly important effects on the businesses that are active in the retailing sector. The most important disadvantage of this technology is that the cost of installation and operation is higher compared to its alternatives. However, it provides important advantages to the business enterprises in the application process. At present, it is especially adopted by the large sized enterprises and with chain stores in the international areas. The application results point out that RFID technology provides business enterprises with the important competitive advantage.

Keywords: RFID, retailing sector, RFID technologies, electronic product code

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Authors: Arne Fagerstrom, Gary Cunningham, Fredrik Hartwig

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In this paper, a theory of sustainable enterprises, sustainable enterprise theory (SET), is developed. The sustainable enterprise theory can only be a valid theory if knowledge about life and nature is complete. Knowledge limitations should not stop enterprises from doing business with a goal of better long-term life on earth. Life demands stewardship of the resources used during one’s lifetime. This paper develops a model influenced by (the classical) enterprise theory and resource theory that includes more than money in the business activities of an enterprise. The sustainable enterprise theory is then used in an analysis of accountability and in discussions about sustainable businesses.

Keywords: sustainable business, sustainability reporting, sustainable values, theory of the firm

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Authors: Onesmus Nyaude

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The aim of the study was to investigate participants’ views on how corruption can be combated to enhance learner academic achievement. The study was undertaken on three select public secondary institutions in Zimbabwe. This study also focuses on exploring the various views of educators; parents and the learners on the role played by corruption in perpetuating the seemingly existing learner academic achievement disparities in various educational institutions. The study further interrogates and examines the nexus between the prevalence of corruption in schools and the subsequent influence on the academic achievement of learners. Corruption is considered a form of social injustice; hence in Zimbabwe, the general consensus is that it is perceived rife to the extent that it is overtaking the traditional factors that contributed to the poor academic achievement of learners. Coupled to this, have been the issue of gross abuse of power and some malpractices emanating from concealment of essential and official transactions in the conduct of business. Through proposing robust anti-corruption mechanisms, teaching and learning resources poured in schools would be put into good use. This would prevent the unlawful diversion and misappropriation of the resources in question which has always been the culture. This study is of paramount significance to curriculum planners, teachers, parents, and learners. The study was informed by the interpretive paradigm; thus qualitative research approaches were used. Both probability and non-probability sampling techniques were adopted in ‘site and participants’ selection. A representative sample of (150) participants was used. The study found that the majority of the participants perceived corruption as a social problem and a human right threat affecting the quality of teaching and learning processes in the education sector. It was established that corruption prevalence within institutions is as a result of the perpetual weakening of ethical values and other variables linked to upholding of ‘Ubuntu’ among general citizenry. It was further established that greediness and weak systems are major causes of rampant corruption within institutions of higher learning and are manifesting through abuse of power, bribery, misappropriation and embezzlement of material and financial resources. Therefore, there is great need to collectively address the problem of corruption in educational institutions and society at large. The study additionally concludes that successful combating of corruption will promote successful moral development of students as well as safeguarding their human rights entitlements. The study recommends the adoption of principles of good corporate governance within educational institutions in order to successfully curb corruption. The study further recommends the intensification of interventionist strategies and strengthening of systems in educational institutions as well as regular audits to overcome the problem associated with rampant corruption cases.

Keywords: academic achievement, combating, corruption, good corporate governance, qualitative study

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Authors: Brahim Ouzaka, Said Ouhadi

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Family businesses (FB) represent the oldest and most resilient form of organization. However, they are weakened by problems of entrepreneurial discontinuity. The objective of this paper is to analyze the problem of the succession of FBs created by senior entrepreneurs. This study analyzes and explores the constructs of senior entrepreneurship and the strategy and takeover policies of the Moroccan Family owned Small and Medium-Sized Businesses. Our main research question is formulated as follows: how does senior entrepreneurship promote the takeover of Moroccan family SMEs? So we aim through this study to analyze the challenge of the takeover of the FB created by senior entrepreneurs in order to explore and understand the specificities, choices and strategies as well as the reality of the takeover process among this category of senior entrepreneurs. After a review of the literature on the relationship between the constructs of senior entrepreneurship and the takeover of FBs, the empirical study will consist of an exploratory qualitative approach of 3 family SMEs created by senior entrepreneurs and subsequently transmitted to their descendants. This qualitative research serves to explore the choices, the strategies as well as the specificities of the entrepreneurial acts and processes of this category of entrepreneurs. The interviews were conducted with senior entrepreneurs and successors of three Moroccan family SMEs, focusing on the specificity of entrepreneurial actions and strategies in the case of SMEs launched by senior entrepreneurs and on the reality of the conduct and preparation of the takeover process, the methods of socialization and training of buyers in the context of these companies.

Keywords: senior entrepreneurship, family SME, family business, takeover

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Authors: Rashid Masoud Ali Al-Mazrui, Ramadhani Mashaka Shabani

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Islamic banks and financial institutions are exposed to the same risks as conventional banking. These risks include the rate return risk, credit or market risk, liquidity risk, and operational risk among others. However, being a financial institution that operates Islamic banking and finance operations, there is additional risk associated with its operations different from conventional finance, such as displacing commercial risk. They face Shari'ah compliance risks because of their failure to follow Shari'ah principles. To have proper mitigation and risk management, banks should have proper risk management policies to mitigate risks. This paper aims to study the risk management taken by Islamic banks in comparison with conventional banks. Also, the study evaluates the provisions for risk management taken by selected Islamic banks and conventional banks. The study employs qualitative analysis using secondary data by applying a content analysis approach with a sample size of 4 Islamic banks and four conventional banks ranging from 2010 to 2020. We find that these banks all use the same technique, except for the associated risk. The extra ways are used, but only for additional risks that are available to Islamic banking and finance.

Keywords: emerging risk, risk management, Islamic banking, conventional bank

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Authors: Abigail Qian Zhou

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In recent years, the prosperity of mass tourism in China has accelerated the breadth and depth of direct communication between countries, and the national image has been placed in a new communication context. Outbound tourists are not only directly involved in the formation of the national image, but are also the most direct medium and the most active symbol representing the national image. This study uses Chinese middle-class tourists visiting Japan as a case study, and analyzes, through participant observation and semi-structured interviews, the communication function of the national image transmitted by 'human medium' in tourism activities. It also explores the 'human medium' in the era of mass tourism. This study hopes to build a bridge for tourism research and national image and media studies. It will provide a theoretical basis and practical guidance for promoting the national image, strengthening exchanges between tourists and local populations, and expanding the tourism market in the future.

Keywords: human medium, national image, communication, Chinese middle class, outbound tourists

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Authors: Sana Masmoudi Mardassi, Yosra Makni Fourati

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Regulators highlight the importance of the Audit Committee (AC) as a key internal corporate governance mechanism. One of the most important roles of this committee is to oversee the financial reporting process. The purpose of this paper is to examine the link between the characteristics of an audit committee and the financial reporting quality by investigating whether the characteristics of audit committees are associated with improved financial reporting quality, especially the Real Earnings Management. In the current study, a panel data from 80 nonfinancial companies listed on the Amsterdam Stock Exchange during the period between 2010 and 2017 were used. To measure audit committee characteristics, four proxies have been used, specifically, audit committee independence, financial expertise, gender diversity and AC meetings. For this research, a linear regression model was used to identify the influence of a set of board characteristics of the audit committee on real earnings management after controlling for firm audit committee size, leverage, size, loss, growth and board size. This research provides empirical evidence of the association between audit committee independence, financial expertise, gender diversity and meetings and Real Earnings Management (REM) as a proxy of financial reporting quality. The study finds that independence and AC Gender diversity are strongly related to financial reporting quality. In fact, these two characteristics constrain REM. The results also suggest that AC- financial expertise reduces to some extent, the likelihood of engaging in REM. These conclusions provide support then to the audit committee requirement under the Dutch Corporate Governance Code rules regarding gender diversity and AC meetings.

Keywords: audit committee, financial expertise, independence, real earnings management

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Authors: Kalpeshkumar L. Gupta, Shivali Rathore

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India is home to over 30 crore rural poor, aware of the criticality of the situation that has made to come with an innovative business idea. Entrepreneurship in India is on the verge of explosive growth and which is actually need of an hour for employment generation, poverty elevation at grass root through developmental intervention. India economic progress has started from the development of its small and medium scale enterprises to ensure that the sectors continues to stay competitive and achieve sustained growth in the era of global economy many incubators centers has been established with the mission to give the encouragement to many innovative ideas. If we define an Incubator, it is simply an enclosed apparatus in which premature small babies are placed and which provides a controlled and protective environment for their care this gives them a chance to adjust to outside environment, and grow stronger before they face the outside world. In a similar way the startup entrepreneur’s business idea is incubated in the incubation centers. Entrepreneurship has been conventionally rated as risky career, to break the myth and to augment the supply of new entrepreneurs through education; research training the incubation centers has been established, their goal is to help create and grow young businesses by providing them with necessary support and financial and technical services. The startup companies spend on an average two years in a business incubator during which numerous benefits like funding, office space, equipment’s etc. is provided by the incubators to the startup business. Present paper will study the background, role, objectives of different incubators set up in Indian Institute of Management (IIMs) and Indian Institute of Technology (IITs) for our study.

Keywords: incubation centres, entrepreneurship, Indian Institute of Management, Indian Institute of Technology

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Authors: Priyal Motwani

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The current market for bamboo products in India is about Rs. 21000 crores and is highly unorganised and fragmented. In this study, we have closely analysed the structure and functions of a major bamboo craft based organisation in Kerela, India and elaborated about its value chain, product mix, pricing strategy and supply chain, collaborations and competitive landscape. We have identified six major bottlenecks that are prevalent in such organisations, based on the Indian context, in relation to their product mix, asset management, and supply chain- corresponding waste management and retail network. The study has identified that the target customers for the bamboo based products and alternative revenue streams (eco-tourism, microenterprises, training), by carrying out secondary and primary research (5000 sample space), that can boost the existing revenue by 150%. We have then recommended an optimum product mix-covering premium, medium and low valued processing, for medium sized bamboo based organisations, in accordance with their capacity to maximize their revenue potential. After studying such organisations and their counter parts, the study has established an optimum retail network, considering B2B, B2C physical and online retail, to maximize their sales to their target groups. On the basis of the results obtained from the analysis of the future and present trends, our study gives recommendations to improve the revenue potential of bamboo based organisation in India and promote sustainability.

Keywords: bamboo, bottlenecks, optimization, product mix, retail network, value chain

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Authors: Camilla Marini, Deborah Agostino

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Cultural institutions provide more than service-based offers; indeed, they are experience-based contexts. A cultural experience is a special event that encompasses a wide range of values which, for visitors, are primarily cultural rather than economic and financial. Cultural institutions have always been characterized by inclusivity and participatory practices, but the upcoming of digital technologies has put forward their interest in collaborative practices and the relationship with their audience. Indeed, digital technologies highly affected the cultural experience as it was conceived. Especially, museums, as traditional and authoritative cultural institutions, have been highly challenged by digital technologies. They shifted by a collection-oriented toward a visitor-centered approach, and digital technologies generated a highly interactive ecosystem in which visitors have an active role, shaping their own cultural experience. Most of the studies that investigate value co-creation in museums adopt a single perspective which is separately one of the museums or one of the users, but the analysis of the convergence/divergence of these perspectives is still emphasized. Additionally, many contributions focus on digital value co-creation as an outcome rather than as a process. The study aims to provide a joint perspective on digital value co-creation which include both museum and visitors. Also, it deepens the contribution of digital technologies in the value co-creation process, addressing the following research questions: (i) what are the convergence/divergence drivers on digital value co-creation and (ii) how digital technologies can be means of value co-creation? The study adopts an action research methodology that is based on the case of WORTHY, an educational project which involves cultural institutions and schools all around Europe, creating a virtual collaborative museum. It represents a valuable case for the aim of the study since it has digital technologies at its core, and the interaction through digital technologies is fundamental, all along with the experience. Action research has been identified as the most appropriate methodology for researchers to have direct contact with the field. Data have been collected through primary and secondary sources. Cultural mediators such as museums, teachers and students’ families have been interviewed, while a focus group has been designed to interact with students, investigating all the aspects of the cultural experience. Secondary sources encompassed project reports and website contents in order to deepen the perspective of cultural institutions. Preliminary findings highlight the dimensions of digital value co-creation in cultural institutions from a museum-visitor integrated perspective and the contribution of digital technologies in the value co-creation process. The study outlines a two-folded contribution that encompasses both an academic and a practitioner level. Indeed, it contributes to fulfilling the gap in cultural management literature about the convergence/divergence of service provider-user perspectives but it also provides cultural professionals with guidelines on how to evaluate the digital value co-creation process.

Keywords: co-creation, digital technologies, museum, value

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

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

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

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Authors: Titin Handayani, Endang Yuniastuti

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Kepuh (Sterculia foetida L.) is a potential plant contain mainly oil seeds that can be used as a source of alternative bioenergy and medicine. The main problem of kepuh cultivation is the limited supply of seed plants. Seeds development were very easy, but to produce fruit have to wait for approximately 5 years. The objective of this research was to obtain kepuh plants through direct in vitro regeneration. Hypocotyls and shoot tips explants were excised from sterile germinated seedlings and placed on shoot induction medium containing basal salts of Murashige and Skoog (MS) and various concentrations of plant growth regulators. The results showed that shoots induction from the apical and axillary buds on MS medium + 1.5 and 2 mg/L BAP and 0.5 and 1 mg/L IAA was growth very slowly. Increasing of BAP concentrations was increased shoot formation. The first subcultures were increased the rate of shoots growth on MS medium supplemented with 2 mg/L BAP and 0.5 mg/L IAA. The second of shoots subculture on MS medium + 1.5 to 2 mg/L BAP + 0.5 mg/L IAA was increased the number of shoots up to 4.8 in average. The best medium of shoots elongation were MS + 1 mgL-1 kinetin + 5 mg/L GA3. The highest percentage of roots (65%) occurred on MS medium with 5 mg/L IBA which average number of roots was 3.1. High percentages of survival and plants of normal appearance were obtained after five weeks of acclimatization.

Keywords: Kepuh, Sterculia foetida L, shoot multiplication, rooting, acclimatization, bioenergy, medicine

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Authors: Veronica S. Moertini, Niko Ibrahim, Verliyantina

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As market intermediary firms, e-commerce transaction broker firms need to strongly collaborate with suppliers in order to develop brands seek by customers. Developing suitable electronic Supplier Relationship Management (e-SRM) system is the solution to the need. In this paper, we propose our concept of e-SRM for transaction brokers owned by small medium enterprises (SMEs), which includes the integrated e-SRM and e-CRM architecture, the e-SRM applications with their functions. We then discuss the customization and implementation of the proposed e-SRM model in a specific transaction broker selling hotel rooms, which owned by an SME, KlikHotel.com. The implementation of the e-SRM in KlikHotel.com has been successfully boosting the number of suppliers (hotel members) and hotel room sales.

Keywords: e-CRM, e-SRM, SME, transaction broker

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Authors: M. Łęgowik-Małolepsza

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The article discusses the problem related to the use of modern information technologies to achieve pro-environmental marketing goals in business-to-customer (B2C) relationships. The topic is important and topical due to the strong social need to implement the concept of sustainable development. The aim of the article is to understand and evaluate the possibilities of implementing modern information technologies, such as Customer Relationship Management platforms (CRM), in the area of implementing marketing activities of companies operating in the Business to Customer model. In B2C relations, marketing departments struggle with problems resulting from the need for quick customer segmentation and the fragmentation of data existing in many systems, which significantly hinders the achievement of the assumed marketing goals. Therefore, the article proposes the use of modern information technology solutions in the area of marketing activities of enterprises, taking into account their pro-environmental goals. The most important results of the research carried out include an in-depth understanding of the possibilities of implementing modern information technologies to achieve marketing goals in B2C relationships. Moreover, a better understanding of the coexistence of opportunities and threats related to the implementation of marketing activities, taking into account pro-environmental goals and modern technologies, allows for more effective implementation of sustainable development management in enterprises. The methods used to achieve the goal are literature studies, descriptive analysis, and case studies. The study contributes to the discussion on the scope of application of modern information technologies in the area of B2C marketing activity, taking into account the implementation of pro-environmental goals of enterprises.

Keywords: B2C marketing activity, implementation of technologies, modern information technologies, pro-environmental activities

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Authors: Colm Barcoe, Garvan Whelan

Abstract:

Over the past five years, visitations of American holidaymakers to Ireland have grown exponentially owing to the online strategies of Tourism Ireland, a Destination Marketer (DMO) with a meagre budget which is extended by their understanding of best practices to maximise their monetary allowance. This suggested framework incorporates a range of Key Performance Indicators (KPI’s) such as financial, marketing, and operational that offer a scale of measurement from which the Irish DMO can monitor the success of each promotional campaign when targeting the US and Canada. These are presented not as final solutions but rather as suggestions based on empirical evidence obtained from both primary and secondary sources. This research combines the wisdom extracted through qualitative methodologies with the objective of understanding the processes that drive both emergent and agile strategies. The Study extends the work relative to performance and examines the role of social media in the context of promoting Ireland to North America. There are two main themes that are identified and analysed in this investigation, these are the approach of the DMO when advocating Ireland as a brand and the benefits of digital platforms set against a proposed scale of KPIs, such as destination marketing, brand positioning, and identity development. The key narrative of this analysis is to focus on the power of social media when capitalising upon marketing opportunities, operating on a relatively small budget. This will always be a relevant theme of discussion due to the responsibility of an organisation like Tourism Ireland operating under the restraints imposed by government funding. The overall conclusions of this research may help inform those concerned with the implementing of social media strategies develop clearer models of measurement when promoting a destination to North America. The suggestions of this study will benefit small and medium enterprises particularly.

Keywords: destination marketing, framework, measure, performance

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Authors: Donald Zullick, Cihan Varol

Abstract:

This research paper begins with a look at current work in business continuity as it relates to the cloud and small to medium business (SMB). While cloud services are an emerging paradigm that is quickly making an impact on business, there has been no substantive research applied to SMB. Seeing this lapse, we have taken a fusion of continuity and cloud research with application to the SMB market. It is an initial reflection with base framework guidelines as a starting point for implementation. In this approach, our research ties together existing work and fill the gap with an SMB outlook.

Keywords: business continuity, cloud services, medium size business, risk assessment, small business

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Authors: Olivier Mesly

Abstract:

This research presents a conceptual framework termed “Consumer Financial Spinning” (CFS) to analyze consumer behavior in the financial/economic markets. This phenomenon occurs when consumers of high-stakes financial products accumulate unsustainable debt, leading them to detach from their initial financial hierarchy of needs, wealth-related goals, and preferences regarding their household portfolio of assets. The daring actions of these consumers, forming a dark financial triangle, are characterized by three behaviors: overconfidence, the use of rationed rationality, and deceitfulness. We show that we can incorporate CFS into the traditional CAPM and Markovitz’ portfolio optimization models to create a framework that explains such market phenomena as the global financial crisis, highlighting the antecedents and consequences of ill-conceived speculation. Because this is a conceptual paper, there is no methodology with respect to ground studies. However, we apply modeling principles derived from the data percolation methodology, which contains tenets explicating how to structure concepts. A simulation test of the proposed framework is conducted; it demonstrates the conditions under which the relationship between expected returns and risk may deviate from linearity. The analysis and conceptual findings are particularly relevant both theoretically and pragmatically as they shed light on the psychological conditions that drive intense speculation, which can lead to market turmoil. Armed with such understanding, regulators are better equipped to propose solutions before the economic problems become out of control.

Keywords: consumer financial spinning, rationality, deceitfulness, overconfidence, CAPM

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Authors: Judit Nagy

Abstract:

Many scientific studies claim that financial education should start as early as possible. Children are much more capable of and willing to absorb new concepts than adults. If we introduce children to financial knowledge early, their behaviour and attitudes to this subject will change, increasing later success in this area of life. However, poor financial decisions may entail severe consequences, not only to individuals but even to the wider society. Good financial decisions and economic attitudes may contribute to economic growth and well-being. Whilst in several countries, education about financial awareness and fundamentals is available, the understanding and acquisition of complex economic knowledge and the development of children’s independent problem-solving skills are still lacking. The results suggest that teaching economic and financial knowledge through accounting and making lectures interactive by using special tools of positive education is critical to stimulating children’s interest. Eighty percent of the students in the study liked the combined and interactive lecture. Introducing this kind of knowledge to individuals is a relevant objective, even at the societal level.

Keywords: positive psychology, education innovation, primary school, gender, economics, accounting, finance, personal finance, mathematics, economic growth, well-being, sustainability

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Authors: Sarah Abi Raad

Abstract:

Nowadays, one of the challenges faced by many institutions is the continuous changing psychosocial environment. This alteration affects the resources, the organizations and defies the leadership and management of people in charge. As a fact, institutions of higher education differ from many organizations, requiring leadership to be a more shared phenomenon than in most profit-centered enterprises. In these colleges, the leadership must be oriented in a way to empower activities. This said, it is important to train students to take on leadership roles in their personal and professional lives. Thus, leadership training in higher education have to manage a cross-cultural environment in order to get the best out of the whole community that works and studies there. The main directions to follow are the building of a professional identity that manages the cross-cultural public while feeling a personal fulfillment in the workplace. In order to do that, this communication proposal has three objectives: - Explain the aspects of the cross-cultural leadership training logic offered to managers and chairs by allowing them to develop a technical leader style of passionate type with a managerial leadership style of compassionate type. - Define the multiple factors on which depends the leadership, which includes the department’s stage of development, the specific management function, the academic discipline and the chair’s own style of leadership. - Emphasize on the complex nature of leadership and the different facets that results from its role in the higher education. However, different situations require a leader with particular characteristics that can be gathered into three categories: “the innovator”, “the implementer” and the “pacifier”. Each category is linked to a problem organizations normally encounter. This leads to conclude with the following question: are the gender, age and culture taken into consideration during a training?

Keywords: benevolent leadership, cross-cultural training, management, unprecedented existential crisis

Procedia PDF Downloads 107