Search results for: investment attracting marketing policies

Authors: Stephen Miller

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The act of applying game mechanics and dynamics (which have been traditionally used in video games) into business applications is being widely trialed in an effort to make conventional business software a bit more participative, fun and engaging. This new trend, named ‘gamification’ has its believers and of course, its critics who still need convincing that the concept is an effective and beneficial business tool worthy of investment. The literature reveals that user engagement of business intelligence (BI) tools is much lower than expected and investors are failing to get a good return on their investment (ROI). So, a software prototype will be designed and developed to add gamification to a BI tool to determine its effect upon the user engagement levels of test participants. The experimental study will be evaluated using the comprehensive User Engagement Scale (UES) to see if there are improvements in areas such as; aesthetics, perceived usability, endurability, novelty, felt involvement and focused attention. The results of this unique study should demonstrate whether or not ‘gamifying’ a BI tool has the potential to increase an individual’s motivation to use BI software more often.

Keywords: business intelligence, gamification, human computer interaction, user engagement

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Authors: Syed Toqueer Akhter, Muhammad Awais

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Pakistan is a country which is gifted by naturally abundant resources these resources are a pioneer towards a prospect and developed country. Pakistan is the fourth largest exporter of the textile in the world and with the passage of time the competitiveness of these exports is subject to a decline. With a lot of International players in the textile world like China, Bangladesh, India, and Sri Lanka, Pakistan needs to put up a lot of effort to compete with these countries. This research paper would determine the impact of Foreign Direct Investment upon technological diffusion and that how significantly it may be affecting on export performance of the country. It would also demonstrate that with the increase in Foreign Direct Investment, technological diffusion, strong property rights, and using different policy tools, export competitiveness of the country could be improved. The research has been carried out using time series data from 1995 to 2013 and the results have been estimated by using competing Econometrics modes such as Robust regression and Generalized least squares so that to consolidate the impact of the Foreign Investments and Technological diffusion upon export competitiveness comprehensively. Distributed Lag model has also been used to encompass the lagged effect of policy tools variables used by the government. Model estimates entail that 'FDI' and 'Technological Diffusion' do have a significant impact on the competitiveness of the exports of Pakistan. It may also be inferred that competitiveness of Textile Sector requires integrated policy framework, primarily including the reduction in interest rates, providing subsides, and manufacturing of value added products.

Keywords: high technology export, robust regression, patents, technological diffusion, export competitiveness

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Authors: Emmanuel Pedler, Elena Raevskikh, Maxime Jaffré

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Can the cultural geography of European cities be durably managed by European policies? To answer this question, two hypotheses can be proposed. (1) Either European cultural policies are able to erase cultural inequalities between the territories through the creation of new areas of cultural attractiveness in each beneficiary neighborhood, city or country. Or, (2) each European region historically rooted in a number of endogenous socio-historical, political or demographic factors is not receptive to exogenous political influences. Thus, the cultural attractiveness of a territory is difficult to measure and to impact by top-down policies in the long term. How do these two logics - European and local - interact and contribute to the emergence of a valued, popular sense of a common European cultural identity? Does this constant interaction between historical backgrounds and new political concepts encourage a positive identification with the European project? The European cultural policy programs, such as ECC (European Capital of Culture), seek to develop new forms of civic cohesion through inclusive and participative cultural events. The cultural assets of a city elected ‘ECC’ are mobilized to attract a wide range of new audiences, including populations poorly integrated into local cultural life – and consequently distant from pre-existing cultural offers. In the current context of increasingly heterogeneous individual perceptions of Europe, the ECC program aims to promote cultural forms and institutions that should accelerate both territorial and cross-border European cohesion. The new cultural consumption pattern is conceived to stimulate integration and mobility, but also to create a legitimate and transnational ideal European citizen type. Our comparative research confronts contrasting cases of ‘European Capitals of Culture’ from the south and from the north of Europe, cities recently concerned by the ECC political mechanism and cities that were elected ECC in the past, multi-centered cultural models vs. highly centralized cultural models. We aim to explore the impacts of European policies on the urban cultural geography, but also to understand the current obstacles for its efficient implementation.

Keywords: urbanism, cultural policies, cultural institutions, european cultural capitals, heritage industries, exclusion effects

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Authors: Gaafar Muhammed, N. T. Ersoy

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The role of electricity in the economic development of any country is undeniable. The main goal of utilizing renewable sources in electricity generation, especially in the emerging countries, is to improve electricity access, economic development and energy sustainability. Germany’s recent transition from conventional to renewable energy technologies is overwhelming, this might not be associated with its abundant natural resources but owing to the policies in place. In line with the fast economic and technological developments recorded in recent years, Germany currently produces approximately 1059 GW of its energy from renewable sources. Hence, at the end of 2016, Germany is among the world leaders in terms of installed renewable energy capacity. As one of the most important factors that lead to renewable energy utilization in any nation is an effective policy, this study aims at examining the effect of policies on renewable energy (RE) development in Germany. Also, the study will focus on the evolution of the adopted feed-in tariff policies, as this evolution has affected the renewable energy capacity in Germany over a period of 15 years (2000 to 2015). The main contribution of the study is to establish a link between the feed-in tariff and the increase of RE in Germany’s energy mix. This is done by analyzing the characteristics of various feed-in tariff mechanisms adopted through the years. These characteristics include the feed-in-tariff rate, degression, special conditions, supported technology, etc. Then, the renewable energy development in Germany has been analyzed through the years along with the targets and the progress in reaching these targets. The study reveals that Germany’s renewable energy support policies (especially feed-in tariff) lead to several benefits and contribute towards the targets existing for renewable energy.

Keywords: feed-in tariff, Germany, policy, penewable energy

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Authors: Vandana Deswal

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Spas have been bringing people from far and near. They have long been recognized as the place for healing, relaxation, rejuvenation, and pampering. As the economies look forward to the newer ways of earning revenues; spas offer a bright option to the tourism of a place. They have become a strong pillar of hospitality and tourism industry in developed nations and developing nations can learn from their example. This paper is an attempt to study the impact of the spa industry on the tourism industry and to offer suggestions to strengthen this impact by understanding the situation in a developed economy (USA) and a developing one (India). A survey has been conducted on a sample size of 200 and the percentage analysis of the data reveals that spas can significantly add to the tourism of a place if they work on the accreditation system and put in more money and thought on their marketing plans.

Keywords: impact, India, marketing, spa, tourism, USA

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Authors: Liming Chen, Baoxin Xu, Zhaoyun Ding, Bin Liu, Xianqiang Zhu

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In the era of big data, public investors are faced with more complicated information related to investment decisions than ever before. To survive in the fierce competition, it has become increasingly urgent for investors to combine multi-source knowledge and evaluate the companies’ true value efficiently. For this, a rule-based ontology reasoning method is proposed to support steel companies’ value assessment. Considering the delay in financial disclosure and based on cost-benefit analysis, this paper introduces the supply chain enterprises financial analysis and constructs the ontology model used to value the value of steel company. In addition, domain knowledge is formally expressed with the help of Web Ontology Language (OWL) language and SWRL (Semantic Web Rule Language) rules. Finally, a case study on a steel company in China proved the effectiveness of the method we proposed.

Keywords: financial ontology, steel company, supply chain, ontology reasoning

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Authors: Irina Khutsishvili

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In the present research, a decision support methodology for the multi-attribute group decision-making (MAGDM) problem is developed, namely for the selection of investment projects. The objective of the investment project selection problem is to choose the best project among the set of projects, seeking investment, or to rank all projects in descending order. The project selection is made considering a set of weighted attributes. To evaluate the attributes in our approach, expert assessments are used. In the proposed methodology, lingual expressions (linguistic terms) given by all experts are used as initial attribute evaluations, since they are the most natural and convenient representation of experts' evaluations. Then lingual evaluations are converted into trapezoidal fuzzy numbers, and the aggregate trapezoidal hesitant fuzzy decision matrix will be built. The case is considered when information on the attribute weights is completely unknown. The attribute weights are identified based on the De Luca and Termini information entropy concept, determined in the context of hesitant fuzzy sets. The decisions are made using the extended Technique for Order Performance by Similarity to Ideal Solution (TOPSIS) method under a hesitant fuzzy environment. Hence, a methodology is based on a trapezoidal valued hesitant fuzzy TOPSIS decision-making model with entropy weights. The ranking of alternatives is performed by the proximity of their distances to both the fuzzy positive-ideal solution (FPIS) and the fuzzy negative-ideal solution (FNIS). For this purpose, the weighted hesitant Hamming distance is used. An example of investment decision-making is shown that clearly explains the procedure of the proposed methodology.

Keywords: In the present research, a decision support methodology for the multi-attribute group decision-making (MAGDM) problem is developed, namely for the selection of investment projects. The objective of the investment project selection problem is to choose the best project among the set of projects, seeking investment, or to rank all projects in descending order. The project selection is made considering a set of weighted attributes. To evaluate the attributes in our approach, expert assessments are used. In the proposed methodology, lingual expressions (linguistic terms) given by all experts are used as initial attribute evaluations since they are the most natural and convenient representation of experts' evaluations. Then lingual evaluations are converted into trapezoidal fuzzy numbers, and the aggregate trapezoidal hesitant fuzzy decision matrix will be built. The case is considered when information on the attribute weights is completely unknown. The attribute weights are identified based on the De Luca and Termini information entropy concept, determined in the context of hesitant fuzzy sets. The decisions are made using the extended Technique for Order Performance by Similarity to Ideal Solution (TOPSIS) method under a hesitant fuzzy environment. Hence, a methodology is based on a trapezoidal valued hesitant fuzzy TOPSIS decision-making model with entropy weights. The ranking of alternatives is performed by the proximity of their distances to both the fuzzy positive-ideal solution (FPIS) and the fuzzy negative-ideal solution (FNIS). For this purpose, the weighted hesitant Hamming distance is used. An example of investment decision-making is shown that clearly explains the procedure of the proposed methodology.

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Authors: Nuno M. Pereira

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In the last thirty years, European cities have been addressing global climate change and its local impacts by implementing mitigation and adaptation strategies. Lisbon Downtown is no exception with 10 plans under implementation since 2010 with completion scheduled for 2030 valued 1 billion euros of public investment. However, the gap between mitigation and adaptation strategies is not yet sufficiently studied alongside with its nuances- vulnerability and risk mitigation, resilience and adaptation. In Lisbon Downtown, these plans are being implemented separately, therefore compromising the effectiveness of public investment. The research reviewed the common ground of mitigation and adaptation strategies of the theoretical framework and analyzed the current urban development actions in Lisbon Downtown in order to identify potential conflicts and synergies. The empirical fieldwork supported by a sounding board of experts has been developed during two years and the results suggest that the largest public investment in Lisbon on flooding mitigation will conflict with the new Cruise ship terminal and old Downton building stock, therefore increasing risk and vulnerability factors. The study concludes that the Lisbon Downtown blue infrastructure plan should be redesigned in some areas in a trans- disciplinary and holistic approach and that the current theoretical framework on climate change should focus more on mitigation and adaptation synergies articulating the gray, blue and green infrastructures, combining old knowledge tested by resilient communities and new knowledge emerging from the digital era.

Keywords: adaptation, climate change, conflict, Lisbon Downtown, mitigation, synergy

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Authors: Khomsan Laosillapacharoen

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This research paper was aimed to analyze the current situation of the furniture industry and embark a plan to enhance the export volume of Thai furniture. This is a qualitative research which utilized meta-analysis and focus group. A total of 24 experts in both government and private sectors were interviewed. The findings revealed that Thai furniture had some advantages of access to raw material, high quality of labors, and have a unique skill. However, the threat included a tendency to have more foreign competitors in domestic market. In addition, the strategies to enhance the level of export included increase the standard quality of Thai furniture, offer new and modern designs, use marketing on the internet, use modern technology, and gain tax incentive from the government.

Keywords: export, furniture, strategies, marketing

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Authors: Afri Ananda Nugroho

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Privatization is one of the public policies closely related to the role of government in the economy due to the failure of the centralized system in the communist countries. This paper will discuss the basic issues of privatization as a global trend, the purpose of privatization, implementation, and impact on the success of State-Owned Enterprises (BUMN) in Indonesia. The analysis is done by looking at some important issues about the privatization problem, and some public policies are being applied such as why and how privatization is necessary and what impact it has. This paper also discusses the implications for top leaders of State-Owned Enterprises.

Keywords: privatization, state-owned enterprises, Indonesia, public policy

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Authors: Vaishali Joshi

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Purpose: A literature gap exists on the concept of sensory marketing elements, such as tactile elements, auditory elements, visual elements, and olfactory elements, studied together in the context of retailing. An investigation is required to study the impact of these sensory cues together on consumer behaviour. So, this study will undertake the impact of sensory marketing in fashion accessories stores on female shoppers’ purchasing activities. The present research study highlights the role of sensory cues, such as tactile cues, visual cues, auditory cues, and olfactory cues, on the shopper’s emotional states and their purchase intention. Design/methodology/approach: The emotional states and the purchase intention of the female shoppers influenced by the visual, tactile, olfactory, and auditory cues present in the fashion accessories stores were measured. The mall intercept technique was used for the data collection. Data analysis was done through Structural Equation Modelling. Research limitations/implications: The restricted geographical range and limited sample size of the study had a substantial poor influence on the wide usage of the study’s outcome. Also, here, the sample was female respondents only.

Keywords: sensory marketing, visual cues, olfactory cues, tactile cues, auditory cues

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Authors: Dimitrios Orfanos, Yannis Maniatis, Alcestis Rodi

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The overconcentration of people in big cities (namely Athens and Thessaloniki) and the tendency to increase their density in the upcoming years cause various problems on a personal, environmental, and social level. During the COVID-19 pandemic, a reversal in urbanism was observed. The counter-urbanization that took place, along with the steady growth of the digital nomad lifestyle, opens up new paths for policies that rejuvenate the non-urban regions in Greece and elsewhere. Promoting actions, either through incentives or through creating organized structures, can transform the Greek rural regions into attractive destinations for those who want to avoid life in big cities permanently or for a short period of time. Subsequently, the gain of the regions that will apply such policies will have a multiplier effect. Greece, being a country with great touristic interest from foreigners, can use the infusion of long-stay visitors as a boost to give way to the Greek urban population that works remotely to move permanently to more rural regions and create the conditions for growth in those regions. The paper studies several cases of such policies, in combination with different options to be explored as to the methods that can be used to take better advantage of these policies. Examples from European and worldwide use cases are presented, noting the parts that can be applied in a country like Greece. An example of an abandoned village is also presented that can be revived through the methods described in the paper. The next possible step in research could be a case study in one of the various locations to determine the level of maturity of the market to pursue such actions.

Keywords: counter-urbanization, digital nomads, rural growth, village revival

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Authors: Aslam Faheem, Hunjra Ahmed Imran, Tayachi Tahar, Verhoeven Peter, Tariq Yasir

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We investigate the evidence of three risk-adjusted calendar anomalies in eight frontier markets. Our sample consists of the daily closing prices of their stock indices for the period of January 2006 to September 2019. We categorize the data with respect to day-of-the-week, Lunar calendar and Islamic calendar. Using Morgan Stanley Capital International (MSCI) eight Markets Index as our proxy of the market portfolio, most of the frontier markets tested exhibit calendar seasonality. We confirm that systematic risk varies with respect to day-of-the-week, Lunar months and Islamic months. After consideration of time-varying risk and applying Bonferroni correction, few frontier markets exhibit profitable investment opportunities from calendar return anomalies for active investment managers.

Keywords: asset pricing, frontier markets, market efficiency, Islamic calendar effects, Islamic stock markets

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Authors: Ma. Karen Jimeno, Erika Kate Co, Ma. Claudia Alexis Frani, Shane Rosshel Guzman, Marie Jaye Constance Selga

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Home sharing continues to gain traction in the Philippines at the expense of traditional lodging options, to which the hospitality industry has reacted in stages. This study aims to describe the social and economic impact of home sharing in Metro Manila from the perspective of hosts. A cross-sectional survey questionnaire consisting of five-point Likert items was administered to 120 hosts in Metro Manila. Kruskal-Wallis test, together with Dunn’s pairwise comparison, was used in the analysis of data. Results show that there is a significant difference in the median scores between increased awareness of Filipino food/heritage and the pursuit of enjoyable life in terms of social impact. Economic-wise, the respondents, did not perceive that their businesses as an additional source of income for the local government. These findings can be used for further exploratory studies and formulation of sustainable business policies conducive for the entrepreneurs and the hospitality industry alike.

Keywords: bed-and-breakfast, home sharing, marketing, tourism

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Authors: Ahmad Dahlan, Aries Indrianto

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Conceptually, mudarabah is the practice of fiqh (jurisprudence) in the bank institutions business that became the basis of the economic development model of modern Islamic financial system. In mudarabah, profit and loss sharing mechanism are integrated between mudarabah on liability side (funding) with mudarabah on the asset side (financing). Islamic (Sharia) Bank is positioned as an intermediary institution like investment manager, although the bank is also involved in direct investment based on bank equity. In practice, mudarabah cannot be done as much as effective at financing because the dominance of debt-financing products. This is a major criticism among experts and Islamic banks practitioners. Ironically, the criticism gets less attention by practitioners of Islamic banks due to many factors. The epistemologies of Islamic banks prioritize shareholder values than stakeholder values, and social culture that has not been ready with the mudarabah totally.

Keywords: two tier mudarabah, intermediary institution, shareholder value, stakeholder value

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Authors: Mehraj Udin Ganaie, Mohammad Israrul Haque

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The purpose of this paper is to enhance the theoretical and conceptual understanding of human talent management (HTM). With the help of extensive review of existing literature, we proposed a conceptual framework and few propositions to elucidate the influential relationship of competency focus, talent pooling, talent investment, and talenting orientation with value creation of a firm. It is believed that human talent management model will enhance the understanding of talent management orientation among practitioners and academicians. Practitioners will be able to align HTM orientation with business strategy wisely to yield better value for business (Shareholders, Employees, Owners, Customers, agents, and other stakeholders). Future research directions will explain how human talent management researchers will work on the integration of relationship and contribute towards the maturity of talent management by further exploring and validating the model empirically to enhance the body of knowledge.

Keywords: talent management orientation, competency focus, talent pooling, talent investment, talenting orientation

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Authors: Mahrukh Shehzadi

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Pakistan is a democratic republic but has spent much time under military rulers; after a few years of independence, Pakistan faced three martial laws in 1958, 1969, and 1977, and the latest in 1999 by General Musharraf. The purpose of this thesis is to analyze the politics, policies and overall performance of Pakistan People’s Party Government from 2008-2013. PPP won a significant victory in the elections of 2008. The co-chairman, Mr. Asif Ali Zardari, announced the end of the fourth dictatorship. It was for the first time in Pakistan’s history that an elected government completed its term (2008-2013). While the completion of its term is an achievement, the performance of the democratically-elected government – federal, provincial and local does not inspire much confidence. Poor governance, persistent confrontational relations between the executive and the judiciary, charges of corruption, and the incompetence of the political leadership to build consensus to combat terrorism continue to cast criticisms on the democratic process and the civilian regime’s capability to sustain democracy. In the present study, the researcher will try to describe and explain the public thinking pattern regarding the policies opted for by the PPP-led government and their impact on the people’s minds of Pakistan.

Keywords: democracy, performance, policies, state, manifesto

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Authors: Tang, Yun-Chia, Chiu, Hung-Chang

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Authenticity in advertising, is the cornerstone of modern marketing. Despite research advances related to the role of authenticity in marketing, it remains unclear why customers respond to authentic brand stories. This study shows that different personality traits moderate the influence of various types of authenticity on people’s levels of emotion. Both indexical and iconic authenticity advertising evoke more positive emotions among extroverts and open and agreeable people. When neurotic people and conscientious people read iconic authenticity advertisements, rather than indexical authenticity ones, they produce more negative emotions. The emotion evoked by advertising in turn has a positive impact on brand attitude. These findings provide managerial implications and directions for practitioners.

Keywords: advertising, authenticity, emotion, personality traits

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Authors: Mohamed Salad Ahmed

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This study explores the impact of tax evasion and avoidance on the economy of Somalia. Somalia's economy is largely informal and cash-based, making it challenging to accurately assess the extent of tax evasion and avoidance. However, it is widely recognized that these practices have significant negative effects on the economy, including reduced government revenue, an uneven playing field for businesses, corruption, and a lack of access to international aid and investment. The study focuses on identifying strategies and solutions to reduce tax evasion and avoidance and increase revenue collection. This includes improving the government's capacity to enforce tax laws and regulations, creating a more transparent and accountable tax system, and increasing public awareness of the importance of paying taxes. By addressing these issues, Somalia can improve its economic stability and enhance its ability to provide essential public services, reduce poverty, and promote growth and development. Tax evasion and avoidance have a significant negative impact on the economy of Somalia. The informal nature of the country's economy and the difficulty in accurately assessing the extent of tax evasion and avoidance make it challenging to address these issues effectively. The lack of government revenue resulting from tax evasion and avoidance makes it difficult for the government to fund essential services, leading to a decline in the quality of public services and hindering economic growth. Tax evasion and avoidance also create an uneven playing field for businesses, discourage investment, contribute to corruption, and undermine the rule of law. Additionally, tax evasion and avoidance can make it more difficult for Somalia to access international aid and investment. Addressing these issues will require a concerted effort by the government to strengthen tax collection and enforcement, as well as by the international community to provide technical assistance and support. This abstract highlights the importance of addressing tax evasion and avoidance in Somalia and the potential benefits of doing so.

Keywords: tax evasion, tax avoidance, Somalia economy, revenue collection, informal economy, corruption economic growth, investment, tax policy, tax administration, governance, private sector

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Authors: Lisa Listiana

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ASEAN leader agreed to accelerate ASEAN Economic Community (AEC) implementation by 2015. The AEC Blueprint has set up obligations for its members to follow which include the establishment of (a) free trade in goods, according to ASEAN Free Trade Area: AFTA, (b) free trade in services, according to ASEAN Framework Agreement on Services: AFAS, (c) free trade in investment, according to ASEAN Comprehensive Investment Agreement: ACIA, (d) free capital flow, and (e) free flow of skilled labors. Consequently, these obligations bring both challenges and opportunities for its members. As accountant is included in the coverage of 8 skilled labors, the readiness of accounting profession to embrace AEC 2015 is pivotal. If Indonesian accountants do not accelerate their learning effort, the knowledge gap between Indonesian accountants and their international colleagues will only be worsened. This paper aims to analyze the current progress of AEC preparation and its challenges and opportunities for Indonesian accountants, and also to propose recommendation as necessary.

Keywords: AEC, ASEAN, readiness, Indonesian accountants

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Authors: Marike Venter de Villiers, Alicia Kruger

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The rapid development of the Internet has facilitated the proliferation of online stores. It has, therefore, become a pertinent issue for online retailers to provide the ultimate experience to customers in an attempt to maintain market share in this competitive landscape. Experiential marketing refers to the sensory dimensions that consumers experience when being faced with a purchase decision, such as getting them to sense, feel, think, act, and relate. The goal of experiential marketing is to provide a holistic experience for customers that allow them to engage in an activity where they may be motivated to purchase the concept behind the product. Creating a unique online experience holds several benefits to brands such as increased customer satisfaction, increased revisit intention, and higher levels of customer loyalty. Although several studies have explored the topic of experiential marketing in an online context, a lack of research exists on South African consumers, an emerging economy that is often overlooked globally. More specifically, the present study focused on professional females and their perceptions of experiential marketing when shopping for fashion products online. The main purpose of this study was to investigate the experiential factors that influence the online purchase intention of fashion products among female professionals. Furthermore, this study aimed to achieve the following objectives: firstly, to gain insight into key website characteristics that consumers value when shopping online for fashion products; secondly, to apply Pine and Gilmore’s (1989) Four Realms of an Experience (entertainment, education, esthetics, and escapism) to ground the study; and thirdly, to gain in-depth insight into the importance of these dimensions and identifying sub-categories that fashion marketers can use to enhance consumers’ online experience. By means of a qualitative study, a focus group was conducted comprising six professional females by using semi-structured questions. Respondents were selected using convenience sampling, and the results were analyzed using thematic analysis. The present research suggests that three of the four realms of experience influence purchase intention of fashion products online, namely, escapism, esthetics, and education. The fourth dimension, pleasure, was present but to a lesser degree. In other words, ‘escapism’ provides online shoppers with a sense of emotional and intellectual pleasure, while ‘esthetics’ refers to the website design, functionality, and product range, and ‘education’ comprises the product information such as the quality, fabric, price and available sizes. The findings of this study provide fashion marketers with insight into how they can maximize on experiential marketing when selling fashion products online. It further provides strategies and techniques for creating an enhanced online experience that ultimately may lead to increased purchase intention.

Keywords: experiential marketing, fashion, online, retail

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Authors: Miang Hong Ngerng, Noor Diyana Jasme, May Jin Theong

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Volatile market environment is inevitable. Fund managers are struggling to choose the right strategy to survive and overcome uncertainties and adverse market movement. Therefore, finding certainty in the mist of uncertainty future is one of the key performance objectives for fund managers. Current available theoretical results are not practical due to strong reliance on the investment assumption made. This paper is to identify the component that can be forecasted in Ex-ante setting which is the realistic situation facing a fund manager in the actual execution of asset allocation in portfolio management. Partial lease square method was used to generate an index with 10 years accounting data from 191 companies listed in KLSE. The result shows that the index reflects the inner nature of the business and up to 30% of the stock return can be explained by the index.

Keywords: active portfolio management, asset allocation ex-ante investment, asset class, partial lease square

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Authors: Maria Khan

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Framing good core Human Resource Management (HRM) functions like recruitment, selection, training and development, which if executed effectively, can become a strategic advantage for a company. HRM policies related to mid-level managers can depend on the type of top management. This may be due to the difference in perception of effective HRM policies of an expatriate and local leadership. This comparative case study assesses how local mid-level managers are managed in leading multinational telecom companies in Pakistan. Core HRM functions related to managers were analysed through field research based on semi-structured interviews with relevant Human Resource Managers. Results suggest that recruitment and selection practices are not too different and are in compliance with best HRM practices. However, there is a difference in the effective implementation of Training and Development policies. Changing global management trends and skill development dictate that MNCs continuously develop the local talent effectively for local and international success.

Keywords: recruitment, selection, training, development, core HRM, human resource management, subsidiary, international staffing, managers, MNC, expatriate

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Authors: Tomas Seidl

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'Enjoy the Czech traditions with all sences!' is the main communication headline of one of the major current marketing project representing the intangible cultural heritage of the Czech Republic to its visitors. The project CZ.1.06/4.1.00/12.08915 and CZ.1.06/4.1.00/12.08916 which is solved in the period 2013-2015 is co-financed form the EU financial sources from the Integrated Operational Programme. The primary goal of the project was to analyze the dislocation and potential of the intangible cultural heritage in the Czech Republic. Further goal was to prepare a useful regionalization. An as solution based on the outcomes the creative and media strategy was created and prepared. The processor – CzechTourism expect the following web and mobile application development and successful marketing campaign in 2015.

Keywords: traditions, intangible cultural heritage, Czech Republic, CzechTourism, digital performance

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Authors: Ruth Donkoh, Wing On Lee, Solomon A. Boateng, Portia Oware Twerefoo, Josephine Donkor

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In this paper we defend the value of theories and approaches to educational policy and planning in enhancing the educational developments in Ghana. This mission is achieved by enumerating the recent educational developments in Ghana and juxtaposing it with some educational theories, approaches to policy making, and policy planning to see if the educational developments conform with the theory principles as well as policy making and planning processes. Data collection for the research was made through textual analysis of policy documents as well as review of relevant literatures. The findings reveled that educational developments in Ghana are unable to attain its objectives due to the policies not conforming with the policy formation and planning principles. In addition, was that education planning in Ghana does not follow the policy-administration dichotomy theory principles and likewise the distribution of educational needs goes contrary to the equity theory. We recommend that educational policies in Ghana should be in conformity with the principles of theories as well as the approaches to educational policy making and planning to help meet the needs of learners, attain educational quality, and to help in the accomplishment of educational development objectives.

Keywords: Ghana education, equity theories, politics- administration dichotomy theory, educational policies, educational planning

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Authors: Sylvia Chan-Olmsted, Lisa-Charlotte Wolter

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With the continuous proliferation of media platforms, there have been tremendous changes in media consumption behaviors. From the perspective of sports sponsorship, while there is now a multitude of platforms to create brand associations, the changing media landscape and shift of message control also mean that sports sponsors will have to take into account the nature of and consumer responses toward these emerging digital media to devise effective marketing strategies. Utilizing the personal interview methodology, this study is qualitative and exploratory in nature. A total of 18 experts from European and American academics, sports marketing industry, and sports leagues/teams were interviewed to address three main research questions: 1) What are the major changes in digital technologies that are relevant to sports sponsorship; 2) How have digital media influenced the channels and platforms of sports sponsorship; and 3) How have these technologies affected the goals, strategies, and measurement of sports sponsorship. The study found that sports sponsorship has moved from consumer engagement, engagement measurement, and consequences of engagement on brand behaviors to micro-targeting one on one, engagement by context, time, and space, and activation and leveraging based on tracking and databases. From the perspective of platforms and channels, the use of mobile devices is prominent during sports content consumption. Increasing multiscreen media consumption means that sports sponsors need to optimize their investment decisions in leagues, teams, or game-related content sources, as they need to go where the fans are most engaged in. The study observed an imbalanced strategic leveraging of technology and digital infrastructure. While sports leagues have had less emphasis on brand value management via technology, sports sponsors have been much more active in utilizing technologies like mobile/LBS tools, big data/user info, real-time marketing and programmatic, and social media activation. Regardless of the new media/platforms, the study found that integration and contextualization are the two essential means of improving sports sponsorship effectiveness through technology. That is, how sponsors effectively integrate social media/mobile/second screen into their existing legacy media sponsorship plan so technology works for the experience/message instead of distracting fans. Additionally, technological advancement and attention economy amplify the importance of consumer data gathering, but sports consumer data does not mean loyalty or engagement. This study also affirms the benefit of digital media as they offer viral and pre-event activations through storytelling way before the actual event, which is critical for leveraging brand association before and after. That is, sponsors now have multiple opportunities and platforms to tell stories about their brands for longer time period. In summary, digital media facilitate fan experience, access to the brand message, multiplatform/channel presentations, storytelling, and content sharing. Nevertheless, rather than focusing on technology and media, today’s sponsors need to define what they want to focus on in terms of content themes that connect with their brands and then identify the channels/platforms. The big challenge for sponsors is to play to the venues/media’s specificity and its fit with the target audience and not uniformly deliver the same message in the same format on different platforms/channels.

Keywords: digital media, mobile media, social media, technology, sports sponsorship

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Authors: Natalie Cutler, Lorna Moxham, Moira Stephens

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Safety is a priority in mental health services, and no more so than in the acute inpatient setting. Mental health service policies and accreditation frameworks commonly approach safety from a risk reduction or elimination perspective leading to service approaches that are arguably more focused on risk than on safety. An exploration what safety means for people who have experienced admission to an acute mental health inpatient unit is currently under way in Sydney, Australia. Using a phenomenographic research approach, this study is seeking to understand the meaning of safety from the perspective of people who use, rather than those who deliver mental health services. Preliminary findings suggest that the meanings of safety for users of mental health services vary from the meanings inherent in the policies and frameworks that inform how mental health services and mental health practice are delivered. This variance has implications for the physical and environmental design of acute mental health inpatient facilities, the policies and practices, and the education and training of mental health staff in particular nurses, who comprise the majority of the mental health workforce. These variances will be presented, along with their implications for the way quality and safety in mental health services are evaluated.

Keywords: acute inpatient, mental health, nursing, phenomenography, recovery, safety

Procedia PDF Downloads 232

Authors: Satish Kumar, Nisha Goyal

Abstract:

In the stock market, individual investors exhibit different kinds of behaviour. Traditional finance is built on the notion of 'homo economics', which states that humans always make perfectly rational choices to maximize their wealth and minimize risk. That is, traditional finance has concern for how investors should behave rather than how actual investors are behaving. Behavioural finance provides the explanation for this phenomenon. Although finance has been studied for thousands of years, behavioural finance is an emerging field that combines the behavioural or psychological aspects with conventional economic and financial theories to provide explanations on how emotions and cognitive factors influence investors’ behaviours. These emotions and cognitive factors are known as behavioural biases. Because of these biases, investors make irrational investment decisions. Besides, the emotional and cognitive factors, the social influence of media as well as friends, relatives and colleagues also affect investment decisions. Psychological factors influence individual investors’ investment decision making, but few studies have used qualitative methods to understand these factors. The aim of this study is to explore the behavioural factors or biases that affect individuals’ investment decision making. For the purpose of this exploratory study, an in-depth interview method was used because it provides much more exhaustive information and a relaxed atmosphere in which people feel more comfortable to provide information. Twenty investment advisors having a minimum 5 years’ experience in securities firms were interviewed. In this study, thematic content analysis was used to analyse interview transcripts. Thematic content analysis process involves analysis of transcripts, coding and identification of themes from data. Based on the analysis we categorized the statements of advisors into various themes. Past market returns and volatility; preference for safe returns; tendency to believe they are better than others; tendency to divide their money into different accounts/assets; tendency to hold on to loss-making assets; preference to invest in familiar securities; tendency to believe that past events were predictable; tendency to rely on the reference point; tendency to rely on other sources of information; tendency to have regret for making past decisions; tendency to have more sensitivity towards losses than gains; tendency to rely on own skills; tendency to buy rising stocks with the expectation that this rise will continue etc. are some of the major concerns showed by experts about investors. The findings of the study revealed 13 biases such as overconfidence bias, disposition effect, familiarity bias, framing effect, anchoring bias, availability bias, self-attribution bias, representativeness, mental accounting, hindsight bias, regret aversion, loss aversion and herding bias/media biases present in Indian investors. These biases have a negative connotation because they produce a distortion in the calculation of an outcome. These biases are classified under three categories such as cognitive errors, emotional biases and social interaction. The findings of this study may assist both financial service providers and researchers to understand the various psychological biases of individual investors in investment decision making. Additionally, individual investors will also be aware of the behavioural biases that will aid them to make sensible and efficient investment decisions.

Keywords: financial advisors, individual investors, investment decisions, psychological biases, qualitative thematic content analysis

Procedia PDF Downloads 169

Authors: Chang-Yong Kim, Dong-Woo Kim, Whon-Hyun Lee, Yong-Joo Kim, Tae-Won Chung, Kyung-Mi Lee, Han-Sol Kim, Eun-Joo Lee, Euh Duck Jeong

Abstract:

In the past, together with the annual increase in investment on national R&D projects, the government’s budget investment in FE has steadily maintained. In the case of major developed countries, R&D and its supporting works are distinguished and professionalized in their own right, in so far as having a training system for facilities, equipment operation, and maintenance personnel. In Korea, however, research personnel conduct both research and equipment operation, leading to quantitative shortages of operational manpower and qualitative problems due to insecure employment such as maintenance issues or the loss of effectiveness of necessary equipment. Therefore, the purpose of this study was to identify the current status of engineer operated national research FE in Korea based on a 2017 survey results of domestic facilities and to suggest policy implications. A total of 395 research institutes that carried out national R&D projects and registered more than two FE since 2005 were surveyed on-line for two months. The survey showed that 395 non-profit research facilities were operating 45,155 pieces of equipment with 2,211 engineer operated national research FE, meaning that each engineer had to manage 21 items of FE. Among these, 43.9% of the workers were employed in temporary positions, including indefinite term contracts. Furthermore, the salary and treatment of the engineer personnel were relatively low compared to researchers. In short, engineers who exclusively focused on managing and maintaining FE play a very important role in increasing research immersion and obtaining highly reliable research results. Moreover, institutional efforts and government support for securing operators are severely lacking as domestic national R&D policies are mostly focused on researchers. The 2017 survey on FE also showed that 48.1% of all research facilities did not even employ engineers. In order to solve the shortage of the engineer personnel, the government will start the pilot project in 2012, and then only the 'research equipment engineer training project' from 2013. Considering the above, a national long-term manpower training plan that addresses the quantitative and qualitative shortage of operators needs to be established through a study of the current situation. In conclusion, the findings indicate that this should not only include a plan which connects training to employment but also measures the creation of additional jobs by re-defining and re-establishing operator roles and improving working conditions.

Keywords: engineer, Korea, maintenance, operation, research facilities and equipment

Procedia PDF Downloads 190

Authors: Keith Dominic T. Li

Abstract:

The soaring prices of residential properties in Hong Kong has become a social problem that even the middle class is having dif?iculties in purchasing homes. In making policies to curb the prices, it is important to determine the factors that contribute to the property in?lation. Many researches attribute this in?lation to macroeconomic factors especially the interest rate. However, it is important to remember that Hong Kong is under a Currency Board system which makes its interest rate exogenously determined. This research aims to show the signi?icance of the money supply on Hong Kong residential property prices in post-1997 Asian Financial Crisis period. Using money supply data, macroeconomic fundamentals, and demographic variables from 2000Q1 to 2013Q2, the factors contributed to residential property price in?lation are estimated to calculate the share of each explanatory variable in disparity. It is found that the Hong Kong property market is mainly driven by investment and that the in?lation on Hong Kong residential property prices can explained by the increase in the Hang Seng Index and in the money supply M2.

Keywords: real estate, Hong Kong, property market, monetary economics, monetary policy

Procedia PDF Downloads 533