Search results for: company valuation

Authors: Vijay Marisetty, Poonam Singh

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Research on the effect of director's network connections on investor welfare is inconclusive. Some studies suggest that directors' connections are beneficial, in terms of, improving earnings information, firms valuation for new investors. On the other hand, adverse effects of directorial networks are also reported, in terms of higher earnings management, options back dating fraud, reduction in firm performance, lower board monitoring. From regulatory perspective, the role of directorial networks on corporate welfare is crucial. Cognizant of the possible ill effects associated with directorial networks, large investors, for better representation on the boards, are building their own database of prospective directors who are highly qualified, however, sourced from outside the highly connected directorial labor market. For instance, following Dodd-Frank Reform Act, California Public Employees' Retirement Systems (CalPERs) has initiated a database for registering aspiring and highly qualified directors to nominate them for board seats (proxy access). Our paper stems from this background and tries to explore the chances of outside directors getting directorships who lack established network connections. The paper is able to identify such aspiring directors' information by accessing a unique Indian data sourced from an online portal that aims to match the supply of registered aspirants with the growing demand for outside directors in India. The online portal's tie-up with stock exchanges ensures firms to access the new pool of directors. Such direct access to the background details of aspiring directors over a period of 10 years, allows us to examine the chances of aspiring directors without corporate network, to enter directorial network. Using this resume data of 16105 aspiring corporate directors in India, who have no prior board experience in the directorial labor market, the paper analyses the entry dynamics in corporate directors' labor market. The database also allows us to investigate the value of corporate network by comparing non-network new entrants with incumbent networked directors. The study develops measures of network centrality and network degree based on merit, i.e. network of individuals belonging to elite educational institutions, like Indian Institute of Management (IIM) or Indian Institute of Technology (IIT) and based on job or company, i.e. network of individuals serving in the same company. The paper then measures the impact of these networks on the appointment of first time directors and subsequent appointment of directors. The paper reports the following main results: 1. The likelihood of becoming a corporate director, without corporate network strength, is only 1 out 100 aspirants. This is inspite of comparable educational background and similar duration of corporate experience; 2. Aspiring non-network directors' elite educational ties help them to secure directorships. However, for post-board appointments, their newly acquired corporate network strength overtakes as their main determinant for subsequent board appointments and compensation. The results thus highlight the limitations in increasing board diversity.

Keywords: aspiring corporate directors, board diversity, director labor market, director networks

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Authors: Juan Carlos Montalvo-Rodriguez, Juan Felipe Espinosa-Cristia, Pablo Islas Madariaga, Jorge Cifuentes Valenzuela

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This article presents different relationships between top management and innovative companies, based on the developments of creativity and innovation management. First of all, it contextualizes the innovative company in relation to management, creativity, and innovation. Secondly, it delves into the vision of top management of innovative companies, from the perspectives of the management of creativity and innovation. Thirdly, their commonalities are highlighted, bearing in mind the importance that both approaches attribute to aspects such as leadership, networks, strategy, culture, technology, environment, and complexity in the top management of innovative companies. Based on the above, an integration of both fields of study is proposed, as an alternative to deepen the relationship between senior management and the innovative company.

Keywords: top management, creativity, innovation, innovative firm, leadership, strategy

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Authors: Ji-Hoon Hong, Dong-Hee Kim, Nam-Uk Kim, Tai-Myoung Chung

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Smartphone users are increasing rapidly. Accordingly, many companies are running BYOD (Bring Your Own Device: Policies to bring private-smartphones to the company) policy to increase work efficiency. However, smartphones are always under the threat of malware, thus the company network that is connected smartphone is exposed to serious risks. Most smartphone malware detection techniques are to perform an independent detection (perform the detection of a single target application). In this paper, we analyzed a variety of intrusion detection techniques. Based on the results of analysis propose an agent using the network IDS.

Keywords: android malware detection, software-defined network, interaction environment, android malware detection, software-defined network, interaction environment

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Authors: Yulinda Rizky Pratiwi, Fuji Anugrah Emily

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Management of Occupational Safety and Health (OSH) are appropriately applied properly by all workers and pekarya in the company. K3 management application also has become very important to prevent accidents. Violation of the rules regarding the K3 has often occurred from time to time. By 2015 the number of occurrences of a violation of the K3 or so-called unsafe action tends to increase. Until finally in January 2016, the number increased drastically unsafe action. Trigger increase in the number of unsafe action is a decrease in the quality of management practices K3. While the application of K3 management performed by each individual thought to be influenced by the attitude and observation guide the actions of each of the individual. In addition to the decline in the quality of K3 management application may result in increased likelihood of accidents and losses for the company as well as the local co-workers. The big difference in the number of unsafe action is very significant in the month of January 2016, making the company Pertamina as the national oil company must do a lot of effort to keep track of how the implementation of K3 management on every worker and pekarya, one at PT Pertamina EP Cepu Field Asset IV. To consider the effort to control the implementation of K3 management can be seen from the attitude and observation guide the actions of the workers and pekarya. By using Multiple Linear Regression can be seen the influence of attitude and action observation guide workers and pekarya the K3 management application that has been done. The results showed that scores K3 management application of each worker and pekarya will increase by 0.764 if the score pekarya worker attitudes and increase one unit, whereas if the score Reassurance action guidelines and pekarya workers increased by one unit then the score management application K3 will increase by 0.754.

Keywords: occupational safety and health, management of occupational safety and health, unsafe action, multiple linear regression

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Authors: Robin Becker, Nane Roetmann, Manfred Helmus

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The construction industry faces a significant challenge due to a shortage of skilled work-ers, especially in construction management, despite an increase in graduates. This is main-ly because the job is associated with high stress, long hours, and poor work-life balance. A survey revealed that the profession is unattractive to students, who prioritize personal growth, flexibility, and digitalization in their careers. To address this issue, companies can consider implementing various work modules like "working time documentation," "home office," "job sharing," and "time off." These modules can improve control, work-life bal-ance, and efficiency if tailored to the company's framework. They offer a way to make the field more appealing to future employees while benefiting existing staff, provided that both employers and employees are flexible and considerate of project-specific conditions and teams. The feasibility of these models depends on the company's overall framework, with potential for cost-neutral implementation and positive effects on efficiency and men-tal health. However, their success also relies on the specific context of the company, and more data is needed to assess their full impact.

Keywords: modern construction management, construction industry, work modules, shortage of junior staff, sustainable personnel management, making construction management more attractive, working time model

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Authors: Oksana Domkina

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According to the modern economic theory, human capital became one of the main production factors and the most promising direction of investment, as such investment provides opportunity of obtaining high and long-term economic and social effects. Informational technology (IT) sector is the representative of this new economy which is most dependent on human capital as the main competitive factor. So the question for this sector is not whether investment in development of personal should be made, but what are the most effective ways of executing it and who has to pay for the education: Worker, company or government. In this paper we examine the IT sector, describe the labor market of IT workers and its development, and analyze the risks that IT companies may face if they invest in the development of their workers and what factors influence it. The main problem and difficulty of quantitative estimation of risk of investment in human capital of a company and its forecasting is human factor. Human behavior is often unpredictable and complex, so it requires specific approaches and methods of assessment. To build a comprehensive method of estimation of the risk of investment in human capital of a company considering human factor, we decided to use the method of analytic hierarchy process (AHP), that initially was created and developed. We separated three main group of factors: Risks related to the worker, related to the company, and external factors. To receive data for our research, we conducted a survey among the HR departments of Ukrainian IT companies used them as experts for the AHP method. Received results showed that IT companies mostly invest in the development of their workers, although several hire only already qualified personnel. According to the results, the most significant risks are the risk of ineffective training and the risk of non-investment that are both related to the firm. The analysis of risk factors related to the employee showed that, the factors of personal reasons, motivation, and work performance have almost the same weights of importance. Regarding internal factors of the company, there is a high role of the factor of compensation and benefits, factors of interesting projects, team, and career opportunities. As for the external environment, one of the most dangerous factor of risk is competitor activities, meanwhile the political and economical situation factor also has a relatively high weight, which is easy to explain by the influence of severe crisis in Ukraine during 2014-2015. The presented method allows to take into consideration all main factors that affect the risk of investment in human capital of a company. This gives a base for further research in this field and allows for a creation of a practical framework for making decisions regarding the personnel development strategy and specific employees' development plans for the HR departments.

Keywords: risks, personnel development, investment in development, factors of risk, risk of investment in development, IT, analytic hierarchy process, AHP

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Authors: Ivan Todorović, Stefan Komazec, Jelena Anđelković-Labrović, Ondrej Jaško, Miha Marič

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Micro, small and medium enterprises (MSME) are important factors of the economy in each country. Recent years have brought increased number and higher sophistication of scientific research related to numerous aspects of entrepreneurship. Various authors try to find the positive correlation between entrepreneur's personal characteristics, skills and knowledge on one hand, and company growth and success of small business on the other hand. Different models recognize staff as one of the key elements in every organizational system. Human resource (HR) function is present in almost all large companies, despite the geographical location or industry. Small and medium enterprises also often have separate positions or even departments for HR administration. However, in early stages of organizational life cycle human resources are usually managed by the founder, entrepreneur. In this paper we want to question whether the companies where founder, entrepreneur, recognizes the significance of human capital in the organization and understands the importance of HR management have higher growth rate and better business results. The findings of this research can be implemented in practice, but also in the academia, for improving the curricula related to the MSME and entrepreneurship.

Keywords: entrepreneurship, MSME, micro small and medium enterprises, company growth, human resources, HR management

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Authors: Sonal Purohit, Animesh Dubey

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Corporate governance deals with the entire network of formal and informal relationship with the management of the company and company’s stakeholders including employees, customers, creditors, local communities, and society in general. The recent financial crisis was truly a global crisis in its nature and effects. The Indian financial markets were not immune to this global financial crisis. It is believed that corporate governance also had a major role to play in staggering the effect of this crisis. The objective of this paper is to examine the failure of prevailing corporate governance practice in India during financial crisis. Lack of appropriate implementation of the corporate government norms was a reason behind the phenomenon of money being pulled-out by FIIs, which constitute major investors and influencers of the Indian financial market.

Keywords: corporate governance, FII, financial market, financial crisis

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Authors: Werner Bernatik, Pavel Adamek

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The Societas Europaea is the legal form of company which plays its role within European Union since 2004. Since that it has settled in particular EU's member according to conditions. There is several hundreds of Societas Europaea found in EU and the article pays attention to historical background of conditions which formed the European Entrepreneurial Environment. Also, the differences of particular details of Societas Europaea are mentioned. Furthermore, the case of Czech Republic Business Environment is subject of interest where, surprisingly, the total amount of registered Societas Europaea was identified as the highest. The possible reasons of such situation are subject of research and results are to be presented in the article.

Keywords: Societas Europaea, business environment, legal form of company, entrepreneurial environment, European Union, competitivness

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Authors: Jirayut Phetchuen, Jongkol Srithorn

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The study examines the unloading and repacking process of Read With Me Group Company Limited. The research aims to improve the old work process and build a new efficient process with the Lean Technique and new machines for faster delivery without increasing the number of employees. Currently, two employees work based on five days on and off. However, workplace injuries have delayed the delivery time, especially the delivery to the neighboring countries. After the process improvement, the working space increased by 25%, the Process Lead Time decreased by 40%, the work efficiency increased by 175.82%, and the work injuries rate was reduced to zero.

Keywords: lean technique, plant layout design, U-shaped disassembly line, value stream mapping

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Authors: R. Henry, J-B. Paulin, St. Fauchille, Ph. Delord, K. Benkirane, A. Brunel

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In this paper, the CVA computation of interest rate swap is presented based on its rating. Rating and probability default given by Moody’s Investors Service are used to calculate our CVA for a specific swap with different maturities. With this computation, the influence of rating variation can be shown on CVA. The application is made to the analysis of Greek CDS variation during the period of Greek crisis between 2008 and 2011. The main point is the determination of correlation between the fluctuation of Greek CDS cumulative value and the variation of swap CVA due to change of rating

Keywords: CDS, computation, CVA, Greek crisis, interest rate swap, maturity, rating, swap

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Authors: Ni Made Dian Swandewi, Wustari L. Mangundjaya

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Employees’ commitment to change are required for the success of organizational change in the company. The objective of this study is to identify the correlation between psychological hardiness and psychological resilience on commitment to change. The respondents of current research are permanent employees and employees that have worked for at least two years in a company that has been experiencing organizational change. Data was collected using Commitment to Change Inventory, Dispositional Resilience Scale (DRS), and Modified CD-RISC. The data were analyzed using regression. The results of the research show that both Psychological Hardiness and Psychological Resilience have positive and significant correlation and contribution on Commitment to Change. This research is important for companies who undergo organizational change in order plan and implement change more effectively.

Keywords: commitment to change, organizational change, psychological hardiness, psychological resilience

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Authors: M. E. Khiav, D. J. Borah, H. T. S. Santos, V. T. Faria

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For automobile companies, it has become very important to ensure sound quality in manufacturing and assembling in order to prevent occurrence of defects and to reduce the amount of parts replacements to be done in the service centers during the warranty period. Statistical Process Control (SPC) is widely used as the tool to analyze the quality of such processes and plays a significant role in the improvement of the processes by identifying the patterns and the location of the defects. In this paper, a case study has been conducted on an Iranian automobile company. This paper performs a quality analysis of a particular component called “Internal Bearing for the Back Wheel” of a particular car model, manufactured by the company, based on the 10 million data received from its service centers located all over the country. By creating control charts including X bar–S charts and EWMA charts, it has been observed after the year 2009, the specific component underwent frequent failures and there has been a sharp dip in the average distance covered by the cars till the specific component requires replacement/maintenance. Correlation analysis was performed to find out the reasons that might have affected the quality of the specific component in all the cars produced by the company after the year 2009. Apart from manufacturing issues, some political and environmental factors have been identified to have a potential impact on the quality of the component. A maiden attempt has been made to analyze the quality issues within an Iranian automobile manufacturer; such issues often get neglected in developing countries. The paper also discusses the possibility of political scenario of Iran and the country’s environmental conditions affecting the quality of the end products, which not only strengthens the extant literature but also provides a new direction for future research.

Keywords: capability analysis, car manufacturing, statistical process control, quality control, quality tools

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Authors: Maya Safira Dewi

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Indonesia is one in the top ten countries most funds flowing into Tax Haven. Illegal funds flowing out of Indonesia reached USD 10.9 billion per year. While the total to 2010 of the Indonesian financial assets are in tax havens from Indonesia amounted to USD 331 billion (Kar and Freitas, 2012). Singapore, Netherlands, Virgin Island, Mauritius and Cayman Island are the highest countries that became the location of companies affiliated with the company listed in Indonesia Stock Exchange. The 469 companies listed on the stock exchange there are 128 companies (27.29%) with overseas entities, listed total overseas affiliated companies amounted to 417 firms in 2012 and 415 companies in 2011. The most of the branches or the parent company are located in Singapore, Netherlands, Virgin Island, Mauritius and Cayman Island. Judging from the existing tax provisions in these countries, have corporate tax rates that is lower than Indonesia. Tax avoidance to tax haven countries can be made by using some Strategies. They are transfer pricing, shopping treaty, thin capitalization and the controlled foreign company. Singapore, Netherlands, Virgin Island, Mauritius and Cayman Island are tax haven countries which become a tax heaven for Indonesian tax payer. It can be concluded that tax havens are a serious problem for Indonesia, and the need for a more assertive policy establishment and more detail about tax havens.

Keywords: tax avoidance, tax haven, transfer pricing, tax rate, tax payer

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Authors: Taisier A. Zoubi, Feras Salama, Mahmud Hossain, Yass A. Alkafaji

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The purpose of this study is to examine the equity pricing of other comprehensive income when earnings are disaggregated into several components. Our findings indicate that other comprehensive income can better explain variation in stock returns when net income is reported in a disaggregated form. Additionally, we found that disaggregating both net income and other comprehensive income can explain more of the variation in the stock returns than the two summary components of comprehensive income. Our results survive a series of robustness checks.

Keywords: market valuation, other comprehensive income, value-relevance, incremental information content

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Authors: Redha Elhuni

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The purpose of this paper is to find out the impact of Quality Management System (QMS) ISO/IEC 17025:2005 certification audit on company’s Performance. Libyan petroleum Institute has been certified ISO/IEC 17025:2005 for 8 years. Therefore, it is necessary to study and analyze the impact of that certification on its performance. Survey study has been done by distributing a questionnaire by handing it personally to qualified staff in the 15 accredited laboratories in the institute. The response rate was 66.6%. The statistical operations with the results of analytical study have been done to achieve the goal and objectives of the research. Finally, ISO/IEC 17025:2005 certification audit is found to have a positive effect on the institute’s performance.

Keywords: auditing process, ISO/IEC 17025:2005, quality management system, Libyan petroleum institute

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Authors: Robert Gilliland

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In any organization, a potential issue can arise and become a problem when management deviates from the standard norms set in the system development process of an IT system and the policies that pertain to it. In these instances, cybersecurity is a big challenge that organizations have to face in safeguarding the data that they generate and use. When a new idea, task, or process begins, specific standards must be followed, along with the policies and procedures that ensure the safeguard of data in the information system within the company. A good IT Strategy and Policy should have individuals who are in charge of overseeing the design, development, implementation, and auditing of these policies. Auditors are people who check to make sure that the issue conforms with the plan that is in place. Management has the ability through the role of the manager to potentially abuse power is given and to direct specific ideas, events, projects, and outcomes that are contrary to the vision or goals of the company.

Keywords: strategic policy, policy management, new policy, strategic planning

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Authors: Mansur Lubabah Kwanbo

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Existing literatures have demonstrated the importance of executive duality (ED) and audit committee (AC) in the financial growth of companies. To some extent this points to corporate governance mechanism aiming at addressing makers and implementers of company policies to be centered on promoting only company objectives. However, furthering organizational objectives needs an adequate structure of control to realize that. Recent development in the various industries in Nigeria have indicated the internal control system (ICS)has not been able to adequately address most of the activities that results in ills of sustaining growth for these industries. It is from this premise the study has as one of its objective to determine the extent to which ICS significantly relates to ED and AC in listed Nigerian corporation. Data were sourced from 308 financial statements and accounts of the corporations that made the sample of the study. Logistic regression aided the test of the hypothesis formulated for the study. Findings revealed a significant relationship between the study variables. The study concludes that the internal control system (ICS) is effective despite the bifurcation of executive duality (ED) and the presence of the Audit Committee (AC) to the extent of preventing ills that encourage lack of sustainability of company’s growth. Sustaining legitimate policies that translate into huge earnings, and create value to stake holders should be pursued.

Keywords: audit committee (AC), executive duality (ED), internal control system (ICS), Nigeria

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Authors: Paolo Magnata

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The energy market in the Philippines remains to have one of the highest electricity rates in the region averaging at US$0.16/kWh (PHP6.89/kWh), excluding VAT, as opposed to the overall energy market average of US$0.13/kWh. The movement towards renewable energy, specifically solar energy, will pose as an expensive one with the country’s energy sector providing Feed-in-Tariff rates as high as US$0.17/kWh (PHP8.69/kWh) for solar energy power plants. Increasing the share of renewables at the current state of the energy regulatory background would yield a three-fold increase in residential electricity bills. The issue lies in the uniform charge that consumers bear regardless of where the electricity is sourced resulting in rates that only consider costs and not the consumers. But if they are given the option to choose where their electricity comes from, a number of consumers may potentially choose economically costlier sources of electricity due to higher levels of utility coupled with the willingness to pay of consuming environmentally-friendly sourced electricity. A contingent valuation survey was conducted to determine their willingness-to-pay for solar energy on a sample that was representative of Metro Manila to elicit their willingness-to-pay and a Single Bounded Dichotomous Choice and Double Bounded Dichotomous Choice analysis was used to estimate the amount they were willing to pay. The results showed that Metro Manila residents are willing to pay a premium on top of their current electricity bill amounting to US$5.71 (PHP268.42) – US$9.26 (PHP435.37) per month which is approximately 0.97% - 1.29% of their monthly household income. It was also discovered that besides higher income of households, a higher level of self-perceived knowledge on environmental awareness significantly affected the likelihood of a consumer to pay the premium. Shifting towards renewable energy is an expensive move not only for the government because of high capital investment but also to consumers; however, the Green Energy Option (a policy mechanism which gives consumers the option to decide where their electricity comes from) can potentially balance the shift of the economic burden by transitioning from a uniformly charged electricity rate to equitably charging consumers based on their willingness to pay for renewably sourced energy.

Keywords: contingent valuation, dichotomous choice, Philippines, solar energy

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Authors: Abilio Pires Zacarias

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Analyzing company boards of directors is a relevant and timely topic. As the representative of shareholders, the board is the most senior management body of this type of company. Therefore, ascertaining the best kind of candidates to nominate, namely the most appropriate characteristics for leading the board to achieve better levels of performance, is certainly of great interest. The companies selected for this study were the 1,000 largest non-financial companies and the 100 largest financial companies in Portugal according to the Instituto Nacional de Estatística for 2010. The information stemmed from a questionnaire addressed to the person in charge of daily company management and then processed through STATA 17 with the multivariate analysis of variables - MANOVA. The study may correspondingly report that the vast majority of boards in the sample operate a dual leadership structure. By in terms of its prevalence, unitary leadership represents only a minority. Agency theory and stewardship theory postulate different characteristics for the ideal chairman but neither receive confirmation from our results. On the other hand, our findings do validate the behavioral theory of firms (BToF), concluding that experience is associated with organizational performance. This study is also relevant due to its analysis of companies not listed on the financial markets not only because of their weighting in the economy but also because they remain only very poorly studied in this field and thus also correspondingly contributing to deepening the literature.

Keywords: agency theory, behavioral theory of the firm, board of directors, corporate governance, stewardship theory

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Authors: Lema Catherine Forje

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Innovation activates the system of an economy to a new level. Innovation follows a process. The first step in innovation is the idea-generation process. There is widespread appreciation that people go to great lengths, incur expenses: energy and materials to generate innovative ideas. People get inspired, create, and connect. The inspiration also enables the building of a culture of innovation. Data collection was done through a face-to-face interview with the producer of the first Cameroon beer that came out in the early 1960s, a rice producing company, a cement producing company, and 100 women following a type of dressing commonly worn by Cameroonian women (wrappa). There were a total number of one hundred and three interviewees. The implication of this study is for everybody. It sheds light on the factors that are likely to sustain an innovation. Conclusion emphasises continuous research to keep giving the innovation a face lift.

Keywords: entrepreneurship, ideas, innovation, sustainability

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Authors: Abdelkarim Ait Brik, Abdelaziz Khoukh, Mustapha Jammali, Hamid Chaikhy

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The energy audit is the essential initial step to ensure a good definition of energy control actions. The in-depth study of the various energy-consuming equipments makes it possible to determine the actions and investments with best cost for the company. The analysis focuses on the energy consumption of production equipment and utilities (lighting, heating, air conditioning, ventilation, transport). Successful implementation of this approach requires, however, to take into account a number of prerequisites. This paper proposes a number of useful recommendations concerning the energy audit in order to achieve better results, and a case study concerning the lighting audit of a Moroccan company by showing the gains that can be made through this audit.

Keywords: energy audit, energy diagnosis, consumption, electricity, energy efficiency, lighting audit

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Authors: Ana Belon Hercilla

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The study is developed in “Reactivos Jeans” company, in the city of Arequipa, whose main business is the laundry of garments at an industrial level. In 2012 the company initiated actions to provide a dry cleaning service of alpaca fiber garments, recognizing that this item is in a growth phase in Peru. Additionally this company took the initiative to use a new greenwashing technology which has not yet been developed in the country. To accomplish this, a redesign of both the process and the plant layout was required. For redesigning the plant, the methodology used was the Systemic Layout Planning, allowing this study divided into four stages. First stage is the information gathering and evaluation of the initial situation of the company, for which a description of the areas, facilities and initial equipment, distribution of the plant, the production process and flows of major operations was made. Second stage is the development of engineering techniques that allow the logging and analysis procedures, such as: Flow Diagram, Route Diagram, DOP (process flowchart), DAP (analysis diagram). Then the planning of the general distribution is carried out. At this stage, proximity factors of the areas are established, the Diagram Paths (TRA) is developed, and the Relational Diagram Activities (DRA). In order to obtain the General Grouping Diagram (DGC), further information is complemented by a time study and Guerchet method is used to calculate the space requirements for each area. Finally, the plant layout redesigning is presented and the implementation of the improvement is made, making it possible to obtain a model much more efficient than the initial design. The results indicate that the implementation of the new machinery, the adequacy of the plant facilities and equipment relocation resulted in a reduction of the production cycle time by 75.67%, routes were reduced by 68.88%, the number of activities during the process were reduced by 40%, waits and storage were removed 100%.

Keywords: redesign, time optimization, industrial laundry, greenwashing

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Authors: Prabukusumo Prakoso

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The topic research aims to analyze the influence of employer branding towards the voluntary turnover intention on employee by projecting the variable of organization commitment and employee satisfaction. To measure each components of employer branding, the author conducted an exploratory study to confirm the items in the questionnaire. There are 80 respondents that are mostly permanent employees at an IT company in Indonesia, including partner and clients to get external viewpoints of employer branding. The result of this research indicates that employer branding has an influence on the voluntary turnover. Furthermore, to maintain the organization commitment in the company, the management can develop employer branding strategy in order to increase employee’s organization commitment.

Keywords: employer branding, organization commitment, employee satisfaction, voluntary intention turnover

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Authors: Mehdi Dasineh, Yadollah Tariverdi, Marzieh H. Takhti

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This paper investigated the relationship between top management turnover with risk volatility, sale volatility and fluctuations in the company's cash depending on the unqualified audit report in Tehran Stock Exchange (TSE). In this study, we examined 104 firms over the period 2009-2014 which were selected from (TSE). There was 624 observed year-company data in this research. Hypotheses of this research have been evaluated by using regression tests for example F-statistical and Durbin-Watson. Based on our sample we found significant relationship between top management replacement and risk volatility, sale Volatility and cash volatility with tendency unqualified audit opinion.

Keywords: top management replacement, risk volatility, sale volatility, cash volatility, unqualified audit opinion

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Authors: Nadia Fatima Zahra Malki

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The aim of the study is to show the role of total Quality Management on firm performance, research relied on the views of a sample managers working in the Marinel pharmaceutical company. The research aims to achieve many objectives, including increasing awareness of the concepts of Total Quality Management on Firm Performance, especially in the manufacturing firm, providing a future vision of the possibility of success, and the actual application of the Principles of Total Quality Management in the manufacturing company. The research adopted a default model was built after a review and analysis of the literature review in the context of one hypothesis's main points at the origin of a group of sub-hypotheses. The research presented a set of conclusions, and the most important of these conclusions was that there is a relationship between the Principles of TQM and Firm Performance.

Keywords: total quality management, competitive advantage, companies, objectives

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Authors: Medani Prasad Rijal

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Forest itself is a factory as well as product. It supplies tangible and intangible goods and services. It supplies timber, fuel wood, fodder, grass leaf litter as well as non timber edible goods and medicinal and aromatic products additionally provides environmental services. These environmental services are of local, national or even global importance. In Nepal, more than 19 thousands community forests are providing environmental service in less economic benefit than actual efficiency. There is a risk of cost of management of those forest exceeds benefits and forests get converted to open access resources in future. Most of the environmental goods and services do not have markets which mean no prices at which they are available to the consumers, therefore the valuation of these services goods and services establishment of paying mechanism for such services and insure the benefit to community is more relevant in local as well as global scale. There are few examples of carbon trading in domestic level to meet the country wide emission goal. In this contest, the study aims to explore the public attitude towards carbon offsetting and their responsibility over service providers. This study helps in promotion of environment service awareness among general people, service provider and community forest. The research helps to unveil the carbon pool scenario in community forest and willingness to pay for carbon offsetting of people who are consuming more energy than general people and emitting relatively more carbon in atmosphere. The study has assessed the carbon pool status in two community forest and valuated carbon service from community forest through willingness to pay in Dharan municipality situated in eastern. In the study, in two community forests carbon pools were assessed following the guideline “Forest Carbon Inventory Guideline 2010” prescribed by Ministry of Forest and soil Conservation, Nepal. Final outcomes of analysis in intensively managed area of Hokse CF recorded as 103.58 tons C /ha with 6173.30 tons carbon stock. Similarly in Hariyali CF carbon density was recorded 251.72 mg C /ha. The total carbon stock of intensively managed blocks in Hariyali CF is 35839.62 tons carbon.

Keywords: carbon, offsetting, sequestration, valuation, willingness to pay

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Authors: Winai Rungrittidetch

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This paper investigated the operational system, procedures, outcomes, and obstacles during the application of the Corporate Social Responsibility by the small enterprises and other involved groups in the anchor production business of the core firm, Jatura Charoen Chai Company Limited. The paper also aimed to discover ways to improve the stakeholders who participated in the CSR training and advisory programme. The paper utilized the qualitative methodology which included documentary review and semi- structured interview. The interviews were made with 8 respondents as the representative of different groups of the company’s stakeholder. The findings drew out the lessons learned from the participation of the selected small manufacturing enterprises in the CSR training and advisory programme. Some suggestions were also made, addressing the significance of the Philosophy of Sufficiency Economy.

Keywords: corporate, social, responsibility, enterprises

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Authors: Milena Serzante, Viktoriia Stankevich, Yousre Badir

Abstract:

Companies have a significant impact on the environment and society, and sustainability is important not only for ethical concerns but also for financial and economic reasons. The aim of the study is to analyze how the sustainable performance of the company impacts the economy and the business's economic performance. To achieve this goal, such methods as the Pearson correlation, Multiple Linear Regression, Cook's distance method, K-nearest neighbor and COPRAS technique were implemented. The results revealed that there is no significant correlation between different indicators of sustainable development of the company and both GDP and Return on Equity. It indicates that the methodology of evaluating sustainability causes the difference in ranking companies based on sustainable performance.

Keywords: economic impact, sustainability evaluation, sustainable companies, economic indicators, sustainability, GDP, return on equity

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Authors: Ekaterina Tikhonova

Abstract:

This research is aimed to evaluate the effectiveness of T&D (Training and Development) on the example of two T&D programs for the Executive TOP Management run in 2012, 2015-2016 in Komos Group. This study is commissioned to research the effectiveness of two similar corporate T&D programs (within one company) in two periods of time (2012, 2015-2016) through evaluating the programs’ effectiveness using the four-level Kirkpatrick’s model of evaluating T&D programs and calculating ROI as an instrument for T&D program measuring by Phillips’ formula. The research investigates the correlation of two figures: the ROI calculated and the rating percentage scale per the ROI implementation (Wagle’s scale). The study includes an assessment of feedback 360 (Kirkpatrick's model) and Phillips’ ROI Methodology that provides a step-by-step process for collecting data, summarizing and processing the collected information. The data is collected from the company accounting data, the HR budgets, MCFO and the company annual reports for the research periods. All analyzed data and reports are organized and presented in forms of tables, charts, and graphs. The paper also gives a brief description of some constrains of the research considered. After ROI calculation, the study reveals that ROI ranges between the average implementation (65% to 75%) by Wagle’s scale that can be considered as a positive outcome. The paper also gives some recommendations how to use ROI in practice and describes main benefits of ROI implementation.

Keywords: ROI, organizational performance, efficacy of T&D program, employee performance

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