Search results for: capital employed

Authors: Pranav Vaidya

Abstract:

The recent upheaval of a ballot initiative taken place in California & Los Angeles‘s newspapers shows how the concept of giving Death Penalty obliterates the very soul basis of community and society which rests upon the tripod of values, ethics, and morality. This paper goes on with examining how, by giving death penalties we are, on one hand trying to wipe out those heinous offenders committing such unspeakable crimes against the public; while on the other hand it comes with a devastating effect of corroding and eluding the existence of ethics and morality which is in the very nature of “protecting the life of humankind”. As it can be stated that, by giving capital punishment, we are trying to legitimize an irreversible act of violence by the authority of state and target innocent victims because as long as the human justice is fallible, the risk of executing an innocent can never be eliminated. However, scholars in the legalization of Capital Punishment have argued that the courts should impose punishment befitting the crime so that they could reflect public abhorrence of the crime, create deterrent or rehabilitating effects & deliver the truest form of justice.

Keywords: ethics, heinous offenders, morality, unspeakable crimes

Procedia PDF Downloads 279

Authors: Tien-Hui Chiang

Abstract:

Human capital discourse encourages many countries to expand the capacity of HEIs. Along with this expansion, the higher education system is redefined as a free market and in turn it is privatized and commercialized. However, the state’s role in education is to balance social justice and capital accumulation. This role is further regulated by a specific form of neoliberalism constituted by social contexts. These correlations call for exploring the influence of human capital discourse on interwoven issues, such as the state’s role in education, higher education policy, and employability. Method: According to the perspective of neoliberal governmentality, answers to the above four research questions are likely to be embedded within discourses in documents related to higher education policies. Consequently, this study adopts a qualitative approach by analyzing official documents, including government reports, official statistics, circulars and official statements. Documents were collected and subjected to content analysis, with a particular focus on the period from 2005 to 2021. The technique of content analysis was applied to decode keywords and core concepts of these documents. Findings: Neoliberalism is exerted through human capital discourse in China particularly in the changes in higher education policies moving from quantitative expansion to quality control via employment or employability. Such changes highlight that the principle of “n”eoliberalism is more suitable for illustrating the practice of free market logic in different social contexts. The modifications of neoliberalism adopted by the Chinese government reflect that the state’s mission is to secure social security or the common good, so that public managerialism - in the form of programs for employment, internship and entrepreneurship - is adopted in the name of the public interest and the collective mission. Public managerialism now is not only targeted towards social institutions but the population more generally, incarnated here by college graduates. Its practice is not only to renovate organizational cultures but to activate people’s commitment to national development.

Keywords: employability, higher education expansion, neoliberalism, human capital discourse

Procedia PDF Downloads 73

Authors: Zinaida I. Ivanova, Olga V. Yudenkova

Abstract:

The article addresses the pressing need to implement the principle of the biosphere compatibility as the core prerequisite for sustainable development. The co-authors argue that a careful attitude towards the biosphere, termination of its overutilization, analysis of the ratio between the biospheric potential of a specific area and its population numbers, coupled with population regulation techniques represent the factors that may solve the problems of ecological depletion. However these problems may only be tackled through the employment of the high-quality human capital, capable of acting with account for the principles of nature conservation.

Keywords: biosphere compatibility, eco-centered conscience, human capital, sustainable development

Procedia PDF Downloads 383

Authors: S. Sadallah

Abstract:

In this paper, dynamic programming is used to determine the optimal management of financial resources in company. Solution of the problem by consider into simpler substructures is constructed. The optimal management of internal capital of company are simulated. The tools applied in this development are based on graph theory. The software of given problems is built by using greedy algorithm. The obtained model and program maintenance enable us to define the optimal version of management of proper financial flows by using visual diagram on each level of investment.

Keywords: management, software, optimal, greedy algorithm, graph-diagram

Procedia PDF Downloads 279

Authors: Luis Felipe Brito-Gaona, Emma M. Iglesias

Abstract:

There is a growing literature that studies the main determinants and drivers of inequality and economic growth in several countries, using panel data and different estimation methods (fixed effects, Generalized Methods of Moments (GMM) and Two Stages Least Squares (TSLS)). Recently, it was studied the evolution of these variables in the period 1980-2009 in the 18 countries of Latin-America and it was found that one of the main variables that explained their evolution was Foreign Direct Investment (FDI). We extend this study to the year 2015 in the same 18 countries in Latin-America, and we find that FDI does not have a significant role anymore, while we find a significant negative and positive effect of schooling levels on inequality and economic growth respectively. We also find that the point estimates associated with human capital are the largest ones of the variables included in the analysis, and this means that an increase in human capital (measured by schooling levels of secondary education) is the main determinant that can help to reduce inequality and to increase economic growth in Latin-America. Therefore, we advise that economic policies in Latin-America should be directed towards increasing the level of education. We use the methodologies of estimating by fixed effects, GMM and TSLS to check the robustness of our results. Our conclusion is the same regardless of the estimation method we choose. We also find that the international recession in the Latin-American countries in 2008 reduced significantly their economic growth.

Keywords: economic growth, human capital, inequality, Latin-America

Procedia PDF Downloads 222

Authors: Oloyede John Adebayo

Abstract:

This paper tested a variant of the monetary model of exchange rate determination, called Frankel’s Capital Account Monetary Model (CAAM) based on Real Interest Rate Differential, on the floating exchange rate experiences of three developing countries of Africa; viz: Ghana, Nigeria and the Gambia. The study adopted the Auto regressive Instrumental Package (AIV) and Almon Polynomial Lag Procedure of regression analysis based on the assumption that the coefficients follow a third-order Polynomial with zero-end constraint. The results found some support for the CAAM hypothesis that exchange rate responds proportionately to changes in money supply, inversely to income and positively to interest rates and expected inflation differentials. On this basis, the study points the attention of monetary authorities and researchers to the relevance and usefulness of CAAM as appropriate tool and useful benchmark for analyzing the exchange rate behaviour of most developing countries.

Keywords: exchange rate, monetary model, interest differentials, capital account

Procedia PDF Downloads 405

Authors: Isabel Martins, Orlando Pereira, Ana Martins

Abstract:

This study aims to highlight that, in changing environments, organisations need to adapt their behaviours to the demands of the new economic reality. The main purpose of this study focuses on the relationship between entrepreneurship, innovation with learning as the mediating factor. It is within this entrepreneurial spirit that literature reveals a concern with the current economic perspective towards knowledge and considers it as both the production factor par excellence and a source of entrepreneurial capacity and innovation. Entrepreneurship is a mind-set focused on identifying opportunities of economic value and translates these into the pursuit of business opportunities through innovation. It connects art and science and is a way of life, as opposed to a simple mode of business creation and profiteering. This perspective underlines the need to develop the global individual for the globalised world, the strategic key to economic and social development. The objective of this study is to explore the notion that relational capital which is established between the entrepreneur and all the other economic role players both inside and outside the organization, is indeed determinant in developing the entrepreneurial capacity. However, this depends on the organizational culture of innovation. In this context, entrepreneurship is an ‘entrepreneurial capital’ inherent in the organization that is not limited to skills needed for work. This study is a critique of extant literature review which will be also be supported by primary data collection gathered to study graduates’ perceptions towards their entrepreneurial capital. Limitations are centered on both the design and of the sample of this study. This study is of added value for both scholars and organisations in the current innovation economy.

Keywords: entrepreneurship, innovation, learning, relational capital

Procedia PDF Downloads 221

Authors: Sami Adwan, Alaa Alhaj Ismail, Claudia Girardone

Abstract:

This paper examines the changes in the value relevance of book value of equity and net income of financial firms over the crisis period. It also examines how these changes vary with three variables, namely, fair value exposure, ownership concentration, and regulatory capital ratios. Using a sample of financial firms operating in the European Economic Area over 2005-2011, our findings suggest that the value relevance of book value of equity increases while that of net income decreases during the financial crisis. We find that more exposure to fair value accounting mitigates the impact of the crisis on the value relevance of book value of equity and net income. We also find that more concentrated ownership appears to have a mitigating impact on the changes in the value relevance of both book value of equity and net income in times of financial crisis. Finally, we find evidence that the level of regulatory capital ratios tends to have an attenuating effect on the changes in the value relevance of net income (but not book value of equity) in times of financial crisis.

Keywords: value relevance, financial crisis, financial firms, fair value, ownership concentration, regulatory capital

Procedia PDF Downloads 176

Authors: Olurankinse Felix

Abstract:

Local governments in Ondo State Nigeria are the third tier of government saddled with the responsibility of providing governance and economic services at the grassroots. To be able to do this, the Constitution of the Federal Republic of Nigeria provided that a proportion of Federation Account be allocated to them in addition to their internally generated revenue. From the allocation and other incidental sources of revenue, the local governments are expected to provide basic infrastructures and other social amenities to better the lots of the rural dwellers. Nevertheless, local governments’ performances in terms of provision of social amenities are without questioning and quite not encouraging. Assessing the performance of local governments in this period of dearth and scarcity of resources is highly indispensable more so that the activities of local governments’ staff are bedeviled and characterized with fraud, corruption and mismanagement. Considering the direct impact of the consequences of their action on the living standard of the rural dwellers therefore calls for the need to evaluate their level of performances using capital budgeting approach. The paper being a time series study adopts the survey design. Data were obtained through secondary source mainly from the Annual financial statements and publication of approved budgets estimates covering the period of study (2008-2012). The use of ratio analysis was employed in analyzing the comparative level of performances of the local governments under study. The result of the study shows that less than 30% of the local governments were able to harness the budgetary allocation to provide amenities to the beneficiaries while majority of the local governments were involved in unethical conduct ranging from theft of fund, corruption, diversion of funds and extra-budgetary activities. Also, there is poor internally generated revenue to complement the statutory allocation and besides, the monthly withholding of larger portions of local government share by the state in the name of joint account were also seen as contributory factors. The study recommends the need for transparency and accountability in public fund management through the oversight function of the state house of assembly. Also local government should be made to be autonomous and independent of the state by jettisoning the idea of joint account.

Keywords: performance, transparency and accountability, capital budgeting, joint account, local government autonomy

Procedia PDF Downloads 327

Authors: Brenda Margaret Behan

Abstract:

Kenya is a water-stressed country with highly varied socio-ecological environments in its devolved county system, and is currently implementing a polycentric water governance system; this paper examines the importance of social capital in community-based natural resource management and its role in supporting good water governance systems in the Kenya context. Through a robust literature review of theory and case studies, specific aspects of social capital are examined to determine their importance in the implementation of local community-based water management arrangements which support and complement the more formal institutions outlined in the 2002 and 2016 Water Acts of Kenya. Water is an increasingly important and scarce resource not only for Kenya, but for many communities across the globe, and lessons learned in the Kenya context can be useful for other countries and communities faced with similar challenges. Changing climates, increasing populations, and increased per capita consumption of water is contributing to a situation in which the management of water resources will be vital to community resilience. Community-based natural resource management is widely recognized as a building block and component of wider water resource management systems, and when properly conducted can provide a way to enable sustainable use of resources and empower communities. Greater attention to the social and cultural norms and traditional institutions associated with a community’s social capital can lead to better results for Kenya’s polycentric governance of water. The key findings and recommendations from this research show that in Kenya, traditional institutions need to be understood and integrated into governance systems; social values and cultural norms have a significant impact on the implementation of community-based water management efforts; and social capital is a dynamic concept which influences and is influenced by policies and practices. The community-based water management approach will continue to be a key cornerstone for Kenya’s polycentric water governance structure, especially in the more remote arid and semi-arid lands; thus, the successful integration of social capital aspects into planning and implementation will contribute to a strengthened, sustainable, and more equitable national water governance system. Specific observations and recommendations from this study will help practitioners and policymakers to better craft community-based interventions.

Keywords: community-based natural resource management, social capital, traditional institutions, water governance

Procedia PDF Downloads 162

Authors: Henrique Alpalhão

Abstract:

This paper attempts to model the widely studied relationship between a country's economic growth and its level of democracy, with an emphasis on possible non-linearities. We adopt the concept of 'political capital' as a measure of democracy, which is extremely uncommon in the literature and brings considerable advantages both in terms of dynamic considerations and plausibility. While the literature is not consensual on this matter, we obtain, via panel Arellano-Bond regression analysis on a database of more than 60 countries over 50 years, significant and robust results that indicate that the impact of democratization on economic growth varies according to the stage of democratic development each country is in.

Keywords: democracy, economic growth, political capital, political economy

Procedia PDF Downloads 314

Authors: Md. Qamruzzaman, Wei Jianguo

Abstract:

Over the decade, it is observed that financial development, through financial innovation, not only accelerated development of efficient and effective financial system but also act as a catalyst in the economic development process. In this study, we try to explore insight about how financial innovation causes economic growth in Bangladesh by using Vector Error Correction Model (VECM) for the period of 1990-2014. Test of Cointegration confirms the existence of a long-run association between financial innovation and economic growth. For investigating directional causality, we apply Granger causality test and estimation explore that long-run growth will be affected by capital flow from non-bank financial institutions and inflation in the economy but changes of growth rate do not have any impact on Capital flow in the economy and level of inflation in long-run. Whereas, growth and Market capitalization, as well as market capitalization and capital flow, confirm feedback hypothesis. Variance decomposition suggests that any innovation in the financial sector can cause GDP variation fluctuation in both long run and short run. Financial innovation promotes efficiency and cost in financial transactions in the financial system, can boost economic development process. The study proposed two policy recommendations for further development. First, innovation friendly financial policy should formulate to encourage adaption and diffusion of financial innovation in the financial system. Second, operation of financial market and capital market should be regulated with implementation of rules and regulation to create conducive environment.

Keywords: financial innovation, economic growth, GDP, financial institution, VECM

Procedia PDF Downloads 262

Authors: Erdal Eroğlu, Özhan Çetinkaya

Abstract:

The purpose of this paper is to show how state plays a regulatory role in the relations of distribution by analyzing tax and expenditure in Turkey. This paper has two main arguments. First, state intervenes in economic and social life via budget policies and steers the relations of distribution within the scope of the reproduction of the capital accumulation and legitimacy. Secondly, a great amount of public expenditure benefits capital owners while state gains its tax income mainly from low and middle income groups.

Keywords: distribution, public expenditure, state budget, taxes

Procedia PDF Downloads 522

Authors: Mohammad Hadi Khorashadi Zadeh ‎

Abstract:

An entrepreneur is a manager or the owner of the commercial company that creates resources and money by risking and initiative. The Netpreneur is the capability to run an online business. It needs only the Connectivity. An Entrepreneur, as long as he has a service which the market demands can set up a feasible and viable trade with his Intellectual Capital as the principle input and the Connectivity Infrastructure as the only physical input. The internet is possibly the most significant revolution in science and technology that our generation could fantasize or imagine. It has introduced in various benefits to the society, culture, economics and politics. The entrepreneur is a premium member in the community. She/he provides services to the society and community including employment.

Keywords: entrepreneur, Netpreneur, intellectual capital, infrastructure

Procedia PDF Downloads 315

Authors: C. Recommandé, J. C. Blind, A. Clavel, R. Gourichon, V. Le Gal

Abstract:

Simulations are developed in this paper with usual DSGE model equations. The model is based on simplified version of Smets-Wouters equations in use at European Central Bank which implies 10 macro-economic variables: consumption, investment, wages, inflation, capital stock, interest rates, production, capital accumulation, labour and credit rate, and allows take into consideration the banking system. Throughout the simulations, this model will be used to evaluate the impact of rate shocks recounting the actions of the European Central Bank during 2008.

Keywords: CC-LM, Central Bank, DSGE, liquidity shock, non-standard intervention

Procedia PDF Downloads 456

Authors: Puwanenthiren Pratheepkanth

Abstract:

This study considers whether national development level influences a firm’s voluntary intellectual capital disclosure (ICD) provided by a sample of 100 Australian and 100 Sri Lankan firms in terms of a two-years during 2015-16. This two-nation study uses a content analysis and literature-review analysis to provide an understanding of the underlying forces and issues. It was found that Australian firms tend to rely heavily on external structure disclosures (with particular attention to brands, customer loyalty, and research collaborations), but Sri Lankan relatively larger firms prefer intellectual property disclosures and the smaller firms tend to be as adept at external structure as their Australian counterparts. It was also found that the nature of a firm tends to trump the nurture of the development level of the country in which the firm is embedded. While a wider diffusion of better ICD methodology under International Financial Reporting Standard (IFRS) could improve the cost-effectiveness of financial reporting and generally increase efficiency, this is unlikely to occur until competition is more of a spur.

Keywords: developed countries, developing countries, content analysis, intellectual capital disclosure

Procedia PDF Downloads 166

Authors: I. Martins, A. Martins

Abstract:

The European Union supports social and civil competencies as being a core element to develop sustainability of organizations, people and regions. These competencies are fundamental for the well-being of the community because they include interpersonal, intrapersonal as well as their civil, active and democratic participation in organizations. The combination of these competencies reveals the organizational socio-emotional maturity and allows relevant levels of performance. It also allows the development of various capitals, namely, human, structural, relational and social, with direct influence on performance. But along this path, the emotional aspect has not been valued as a capital, given that contemporary society is based on knowledge capital and is flooded with information viewed as a capital. The present study, based on the importance of these socio-emotional capitals, aims to show that the competencies of cooperation, interpersonal understanding, empathy, kindness, ability to listen, and tolerance, to mention a few, are strategic in consolidating knowledge within organizations. This implies that the humanizing processes, both inside and outside the organizations, are revitalized. The question is how to go about doing this and its implementation; as well as, where to begin and which guidelines to take on. These are the foci that guide the present study, bearing in mind the directions of the knowledge economy.

Keywords: civil competencies, humanizing, performance, social competencies

Procedia PDF Downloads 142

Authors: David C. Nwogbo

Abstract:

Examining the impact of federalism on good governance is crucial for enhancing governance in Nigeria. This study focuses on the Federal Capital Territory (FCT), Abuja, as a case study. Employing a descriptive survey design, data was collected to explore the relationship between federalism and good governance in Abuja, Nigeria. A stratified random sampling method was used to select 289 respondents from the population of Abuja. The sample size was determined using a formula based on precision and population size. A survey questionnaire was employed to gather information on respondents' demographics, perceptions, and experiences concerning federalism and good governance in the FCT. Descriptive statistics, such as percentages and means, were utilized to analyze the study's findings. The findings provided insights into the perceptions and experiences of residents of the FCT with regard to the relationship between federalism and good governance. The results of this study will be useful for policy and decision-making related to the implementation of these concepts in Nigeria and, more specifically, in the FCT, Abuja. The study found that the majority of respondents believe that the federal system of government has not been effective in promoting accountability, transparency, and reducing corruption in Nigeria. There is a need for reforms to improve the effectiveness of the federal system in promoting good governance. These reforms include strengthening institutions, reallocation of resources, reform of the electoral system, decentralization of power, strengthening the role of the judiciary, capacity building, promoting transparency, and engagement of civil society. The findings also highlight the need for significant reforms to address these challenges and promote good governance in the country. The results of this study can be used to inform policy decisions and guide future research on the subject.

Keywords: accountability, federalism, good, governance

Procedia PDF Downloads 95

Authors: Himansu, Bedanga Talukdar

Abstract:

The aim of present study is to investigate the prevalence of various health outcomes and quality of life and analyzes the moderating role of social capital on health outcomes (i.e., self-rated good health (SRH), depression, functional health and quality of life) among elderly in India. Using WHO Study on Global AGEing and adults health (SAGE) data, with sample of 6559 elderly between 50 and above (Mage=61.81, SD=9.00) age were selected for analysis. Multivariate analysis accessed the prevalence of SRH, depression, functional limitation and quality of life among older adults. Logistic regression evaluates the effect of social capital along with other co-founders on SRH, depression, and functional limitation, whereas linear regression evaluates the effect of social capital with other co-founders on quality of life (QoL) among elderly. Empirical results reveal that (74%) of respondents were married, (70%) having low social action, (46%) medium sociability, (45%) low trust-solidarity, (58%) high safety, (65%) medium civic engagement and 37% reported medium psychological resources. The multivariate analysis, explains (SRH) is associated with age, female, having education, higher social action great trust, safety and greater psychological resources. Depression among elderly is greatly related to age, sex, education and higher wealth, higher sociability, having psychological resources. QoL is negatively associated with age, sex, being Muslim, whereas positive associated with higher education, currently married, civic engagement, having wealth, social action, trust and solidarity, safeness, and strong psychological resources.

Keywords: depressive symptom, functional limitation, older adults, quality of life, self rated health, social capital

Procedia PDF Downloads 219

Authors: Ichiro Takahashi

Abstract:

One of the major assumptions of mainstream macroeconomics is the path independence of capital stock. This paper challenges this assumption by employing an agent-based approach. The simulation results showed the existence of multiple "quasi-steady state" equilibria of the capital stock, which may cast serious doubt on the validity of the assumption. The finding would give a better understanding of many phenomena that involve hysteresis, including the causes of poverty. The "market-clearing view" has been widely shared among major schools of macroeconomics. They understand that the capital stock, the labor force, and technology, determine the "full-employment" equilibrium growth path and demand/supply shocks can move the economy away from the path only temporarily: the dichotomy between the short-run business cycles and the long-run equilibrium path. The view then implicitly assumes the long-run capital stock to be independent of how the economy has evolved. In contrast, "Old Keynesians" have recognized fluctuations in output as arising largely from fluctuations in real aggregate demand. It will then be an interesting question to ask if an agent-based macroeconomic model, which is known to have path dependence, can generate multiple full-employment equilibrium trajectories of the capital stock in the super-long run. If the answer is yes, the equilibrium level of capital stock, an important supply-side factor, would no longer be independent of the business cycle phenomenon. This paper attempts to answer the above question by using the agent-based macroeconomic model developed by Takahashi and Okada (2010). The model would serve this purpose well because it has neither population growth nor technology progress. The objective of the paper is twofold: (1) to explore the causes of long-term business cycle, and (2) to examine the super-long behaviors of the capital stock of full-employment economies. (1) The simulated behaviors of the key macroeconomic variables such as output, employment, real wages showed widely diversified macro-economies. They were often remarkably stable but exhibited both short-term and long-term fluctuations. The long-term fluctuations occur through the following two adjustments: the quantity and relative cost adjustments of capital stock. The first one is obvious and assumed by many business cycle theorists. The reduced aggregate demand lowers prices, which raises real wages, thereby decreasing the relative cost of capital stock with respect to labor. (2) The long-term business cycles/fluctuations were synthesized with the hysteresis of real wages, interest rates, and investments. In particular, a sequence of the simulation runs with a super-long simulation period generated a wide range of perfectly stable paths, many of which achieved full employment: all the macroeconomic trajectories, including capital stock, output, and employment, were perfectly horizontal over 100,000 periods. Moreover, the full-employment level of capital stock was influenced by the history of unemployment, which was itself path-dependent. Thus, an experience of severe unemployment in the past kept the real wage low, which discouraged a relatively costly investment in capital stock. Meanwhile, a history of good performance sometimes brought about a low capital stock due to a high-interest rate that was consistent with a strong investment.

Keywords: agent-based macroeconomic model, business cycle, hysteresis, stability

Procedia PDF Downloads 204

Authors: Altaf Hussain, Norashidah Hashim

Abstract:

An important aspect needed for promoting entrepreneurship is to encourage individuals for becoming entrepreneurs by endowing them with the required skills and knowledge for identifying the opportunities and turning these opportunities into successful ventures. Literature has recognized entrepreneurship education has significant role in motivating individual’s intention to become an entrepreneurs. Developing upon the insights based on dynamic view of human capital theory, this conceptual paper explores the role of entrepreneurial alertness in a linkage between entrepreneurial education and intentions to become an entrepreneur. Prior knowledge which can be acquired through entrepreneurship education and or experience is an antecedent for developing specific human capital of alertness for identifying the opportunities which impact on individual intentions. This suggests cause & effect relationship between entrepreneurship education and intentions through entrepreneurial alertness by impacting on the attitude, social norms and perceived behavioral control of an individual which can motivate individual intention of becoming an entrepreneur. Thus, alertness skill acquired through entrepreneurship education for identifying the profitable opportunities mediates the relationship between entrepreneurship education and intentions.

Keywords: entrepreneurship, entrepreneurship education, alertness, intentions, human capital

Procedia PDF Downloads 427

Authors: Xhevrie Mamaqi

Abstract:

Organization capacity learning is a process referring to the sum total of individual and collective learning through training programs, experience and experimentation, among others. Today, in-business ongoing training is one of the most important strategies for human capital development and it is crucial to sustain and improve workers’ knowledge and skills. Many organizations, firms and business are adopting a strategy of continuous learning, encouraging employees to learn new skills continually to be innovative and to try new processes and work in order to achieve a competitive advantage and superior business results. This paper uses the Resource Based View and Capacities (RBV) approach to construct a hypothetical relationships model between training and business results. The test of the model is applied on transversal data. A sample of 266 business of Spanish sector service has been selected. A Structural Equation Model (SEM) is used to estimate the relationship between ongoing training, represented by two latent dimension denominated Human and Social Capital resources and economic business results. The coefficients estimated have shown the efficient of some training aspects explaining the variation in business results.

Keywords: business results, human and social capital resources, training, RBV theory, SEM

Procedia PDF Downloads 295

Authors: Wasfi Al Salamat, Shaker Al-Kharouf

Abstract:

This study aims to examine the determinants of financial stability for 13 commercial banks listed on the Amman stock exchange (ASE) over the period (2007-2016) after controlling for the independent variables: return on equity (ROE), return on assets (ROA), earnings per share (EPS), growth in gross domestic product (GDP), inflation rate and debt ratio to measure the financial stability by three main variables: capital adequacy, non-performing loans and the number of returned checks. The balanced panel data statistical approach has been used for data analysis. Results are estimated by using multiple regression models. The empirical results suggested that there is statistically significant negative effect of inflation rate and debt ratio on the capital adequacy while there is statistically significant positive effect of growth in gross domestic product on capital adequacy. In contrast, there is statistically significant negative effect of return on equity and growth in gross domestic product on the non-performing loans while there is statistically significant positive effect of inflation rate on non-performing loans. Finally, there is statistically significant negative effect of growth in gross domestic product on the number of returned checks while there is statistically significant positive effect of inflation rate on the number of returned checks.

Keywords: capital adequacy, financial stability, non-performing loans, number of returned checks, ASE

Procedia PDF Downloads 215

Authors: Francis O. Iyoha, Daniel E. Gberevbie, Charles T. Iruonagbe, Matthew E. Egharevba

Abstract:

Cost of governance in Nigeria has become a challenge to development and concern to practitioners and scholars alike in the field of business and social science research. It has been observed that it takes 70 percent of the nation’s revenue to maintain less than 20 percent of the Nigerian population that are public servants. Furthermore, it has been observed that on a consistent yearly basis, the recurrent expenditure of government from the national budget keeps rising, while capital expenditure meant for development keeps falling. The implication is that development is stagnated in the country. For instance, in the 2010 national budget of NGN4.60tn or USD28.75b, only NGN1.80tn or USD11.15b was set aside for capital expenditure. Also, in the 2013 national budget of NGN4.92tn or USD30.75b, only NGN1.50tn or USD9.38b was set aside for capital expenditure. Therefore, with the analysis of secondary data, this study examined the reasons for the high cost of governance in Nigeria. It observed that the high cost of governance in the country is in the interest of the ruling class, arising from their unethical behaviour – corrupt practices and the poor management of public resources. As a result, the study recommends the need to intensify the war against corruption and mismanagement of public resources by government officials as possible solution to overcome the high cost of governance in Nigeria. This could be achieved by strengthening the constitutional powers of the various anti-corruption agencies in the area of arrest, investigation and prosecution of offenders without the interference of the executive arm of government either at the local, state or federal level.

Keywords: cost of governance, capital expenditure, recurrent expenditure, unethical behavior, Nigeria

Procedia PDF Downloads 335

Authors: Naveed Iqbal Chaudhry, Mian Saqib Mehmood, Asif Mehmood

Abstract:

This study investigates the motivators of foreign direct investment (FDI) which will provide a panacea tool and ground breaking results related to it in case of Pakistan. The study considers exchange rate, market size and human capital as the motivators for attracting FDI. In this regard, time series data on annual basis has been collected for the period 1985–2010 and an Augmented Dickey–Fuller (ADF) and Phillips–Perron (PP) unit root tests are utilized to determine the stationarity of the variables. A bound testing approach to co-integration was applied because the variables included in the model are at I(1) – first level stationary. The empirical findings of this study confirm the long run relationship among the variables. However, market size and human capital have strong positive and significant impact, in short and long-run, for attracting FDI but exchange rate shows negative impact in this regard. The significant negative coefficient of the ECM indicates that it converges towards equilibrium. CUSUM and CUSUMSQ tests plots are with in the lines of critical value, which indicates the stability of the estimated parameters. However, this model can be used by Pakistan in policy and decision making. For achieving higher economic growth and economies of scale, the country should concentrate on the ingredients of this study so that it could attract more FDI as compared to the other countries.

Keywords: ARDL, CUSUM and CUSUMSQ tests, ECM, exchange rate, FDI, human capital, market size, Pakistan

Procedia PDF Downloads 389

Authors: Tareq N. Issa

Abstract:

The main pressuring challenges of global competition and high returns have forced businesses to shift their strategic competitive advantage from physical distribution management to integrated logistics management, finally moving into supply chain management. Conventionally, corporate profitability is a function of cost, capital employed, revenue and customer service. This article gives an insight into the effect of supply chain management on each of the above variables. It investigates the impact of the changing levels/ effects of these variables on corporate profitability and the means of measuring supply chain financial effectiveness. Information technology tools form the basis for supply chain optimal performance through alignment of supply chain systems in this ever increasing complexity in business decisions.

Keywords: corporate profitability, sypply chain systems, business decisions, competitive advanage

Procedia PDF Downloads 327

Authors: Zelal Çınar

Abstract:

This paper aims to expose the effects of the ideological program of Turkish Republic on city planning, through the first plan of Ankara. As the new capital, Ankara was planned to be the ‘showcase’ of modern Turkey. It was to represent all new ideologies and the country’s cultural similarities with the west. At the same time it was to underline the national identity and independence of Turkish republic. To this end, a new plan for the capital was designed by German city planner Carl Christopher Lörcher. Diametrically opposed with the existing fabric of the city, this plan was built on the basis of papers and plans, on ideological aims. On the contrary, this paper argues that the city is a machine of possibilities, rather than a clear, materialized system.

Keywords: architecture, ideology, modernization, urban planning

Procedia PDF Downloads 266

Authors: Achsania Hendratmi, Nisful Laila, Fatin Fadhilah Hasib, Puji Sucia Sukmaningrum

Abstract:

This study aims to compare and see the differences between Islamic bank in Indonesia and Islamic bank in Malaysia using RGEC method (Risk Profile, Good Corporate Governance, Earnings, and Capital). This study examines the comparison in business and social performance of eleven Islamic banks in Indonesia and fifteen Islamic banks in Malaysia. This research used quantitative approach and the collections of data was done by collecting all the annual reports of banks that has been created as a sample over the period 2011-2015. The test result of the Independent Samples T-test and Mann-Whitney Test showed there were differences in the business performance of Islamic Bank in Indonesia and Malaysia as seen from the aspect of Risk profile (FDR), GCG, and Earnings (ROA). Also, there were differences of business and social performance as seen from Earnings (ROE), Capital (CAR), and Sharia Conformity Indicator (PSR and ZR) aspects.

Keywords: business performance, Islamic banks, RGEC, social performance

Procedia PDF Downloads 289

Authors: Sultanbayeva Gulmira Serikbayevna, Golovchun Aleftina Anatolyevna

Abstract:

The development of any nation is directly related to the development of human capital in it. A human development is an increase its intellectual potential, its compliance with the requirements of time, present and future society. Demands of globalization cannot limit the processes of national traditions. The education system must be formed on the basis of international practice of cultural development. In Kazakhstan, where modernization changes are rapidly developing, the education system should be formed in two ways: first, on a national basis, and secondly, based on global best practices. There is the need to recognize and promote the importance of education as a value. The world community considers the problem of spiritual values. Along with individual values, spiritual values are also universal values. Formation of values such as the presence in young people a sense of respect for their homeland, social responsibility, respect the culture and traditions of its people is the most important task than the possession of material goods. When forming the intellectual nation, values in the field of education and science become investments for the development of the society, as well as education and science today transformed into the most important capital.

Keywords: human capital, humanitarian technology, intangible assets, intelligent nation, society of knowledge

Procedia PDF Downloads 312

Authors: M. K. Witek-Hajduk, T. M. Napiórkowski

Abstract:

A number of studies discussed the topic of benefits of retailers-manufacturers cooperation and coopetition. However, there are only few publications focused on the benefits of cooperation and coopetition between retailers and their suppliers of durable consumer goods; especially in the context of business model of cooperating partners. This paper aims to provide a clustering approach to segment retailers selling consumer durables according to the benefits they obtain from their cooperation with key manufacturers and differentiate the said retailers’ in term of the business models of cooperating partners. For the purpose of the study, a survey (with a CATI method) collected data on 603 consumer durables retailers present on the Polish market. Retailers are clustered both, with hierarchical and non-hierarchical methods. Five distinctive groups of consumer durables’ retailers are (based on the studied benefits) identified using the two-stage clustering approach. The clusters are then characterized with a set of exogenous variables, key of which are business models employed by the retailer and its partnering key manufacturer. The paper finds that the a combination of a medium sized retailer classified as an Integrator with a chiefly domestic capital and a manufacturer categorized as a Market Player will yield the highest benefits. On the other side of the spectrum is medium sized Distributor retailer with solely domestic capital – in this case, the business model of the cooperating manufactrer appears to be irreleveant. This paper is the one of the first empirical study using cluster analysis on primary data that defines the types of cooperation between consumer durables’ retailers and manufacturers – their key suppliers. The analysis integrates a perspective of both retailers’ and manufacturers’ business models and matches them with individual and joint benefits.

Keywords: benefits of cooperation, business model, cluster analysis, retailer-manufacturer cooperation

Procedia PDF Downloads 253