Search results for: fund firm

Authors: Haitao Yang, Jianming Lv, Fei Xu, Xintong Wang, Yilin Huang, Lanting Xia, Xuewu Zhu

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Given a fixed fund, purchasing fewer hosts of higher capability or inversely more of lower capability is a must-be-made trade-off in practices for building a Hadoop big data platform. An exploratory study is presented for a Housing Big Data Platform project (HBDP), where typical big data computing is with SQL queries of aggregate, join, and space-time condition selections executed upon massive data from more than 10 million housing units. In HBDP, an empirical formula was introduced to predict the performance of host clusters potential for the intended typical big data computing, and it was shaped via a regression approach. With this empirical formula, it is easy to suggest an optimal cluster configuration. The investigation was based on a typical Hadoop computing ecosystem HDFS+Hive+Spark. A proper metric was raised to measure the performance of Hadoop clusters in HBDP, which was tested and compared with its predicted counterpart, on executing three kinds of typical SQL query tasks. Tests were conducted with respect to factors of CPU benchmark, memory size, virtual host division, and the number of element physical host in cluster. The research has been applied to practical cluster procurement for housing big data computing.

Keywords: Hadoop platform planning, optimal cluster scheme at fixed-fund, performance predicting formula, typical SQL query tasks

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Authors: Ernest Nweke, Enkhtuya Bavuudorj

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The Mongolia Stock Exchange (MSE) serves as a vehicle for executing the privatization policy of Mongolian Government as it transitioned from socialist to free market economy. It was also the intention of the Government to develop the investment and securities market through its establishment and to further boost the ailing Mongolian economy. This paper focuses on the contributions of the Mongolian Stock Exchange (MSE) to the industrial and economic development of Mongolia via Corporate fund mobilization for listed companies in Mongolia. A study of this nature is imperative as economic development in Mongolia has been accelerated by corporate investments. The key purpose of the research was to critically analyze the operations of the MSE to ascertain the extent to which the objectives for which it was established have been accomplished and to assess its contributions to industrial and economic development of Mongolia. In achieving this, secondary data on the activities of the MSE; its market capitalization over the years were collected and analyzed vis-à-vis the figures for Mongolia’s macro-economic data for the same time period to determine whether the progressive increase in market capitalization of the MSE has positively impacted on Mongolia’s economic growth. Regression analysis package was utilized in dissecting the data. It was proven that the Mongolian Stock Exchange has contributed positively and significantly to Mongolia’s economic development though not yet to the desired level. Against the findings of this research, recommendations were made to address, the problems facing the MSE and to enhance its performance and ultimately its contributions to industrial and economic development of the Mongolian nation.

Keywords: Corporate Fund Mobilization, Gross Domestic Product (GDP), market capitalization, purchasing power, stock exchange

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Authors: Oluwlola Felicia Kikelomo

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This study examined the influence of Tertiary Education Trust Fund (TETF) intervention projects and resource utilization in universities in South Western State of Nigeria. The study was a descriptive design of the correlation type. Purposive sampling technique was used to select six out of 14 beneficiary universities in the States. Instruments used to collect data were TETF Intervention Projects Checklist (TETFIPC), Educational Facilities Checklists (EFC) and Resources Utilization Checklists (RUC). The research questions raised were answered using percentage and utilization rates, while Pearson product-moment correlation statistic was used to test the hypotheses formulated to guide the study 0.05 level of significance. Findings of the study indicated that building construction had the highest TETF allocation (64.5%), while staff development opportunities had the least (1.1%) in the sampled universities. Significant and positive relationship existed between time and space utilization rates and student academic performance in the universities (r (1,800) = 0.63 and r (1,800) = 0.59, p ≤ 0.05 respectively). Based, on these findings, it was recommended that there should be periodic evaluation of completed TETF projects and utilization to ensure that TETF funds are properly used for the approved projects; and that TETF should improve on the provision of educational facilities to universities for staff and students’ use through increase in education tax from 2% to 4% with collaboration with the world bank and other funding agencies as being practiced in other countries of the world such as Norway, Spain, and United Kingdom.

Keywords: tertiary education trust fund, intervention, education, human development

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Authors: Lucian J. Pitt

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The primary purpose of this study is to understand the differences in the relationship between working capital management efficiency, working capital investment decisions and working capital finance decisions and the profitability of firms within the context of two African developing economies, Kenya and Nigeria. The study finds that there is a significant difference in the relationship between the firm’s profitability and the working capital variables which suggests different challenges for working capital management in each of these countries.

Keywords: working capital management, working capital investment, working capital finance, profitability, cash conversion cycle

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Authors: Shafiqul Islam, Cordia Chu

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Bangladesh contributes little to global climate change, yet it is one of the countries most vulnerable to climate change. Based on semi-structured in-depth interviews and literature review, focusing public spending distribution process, this paper demonstrates how the processes of political economy- enclosure, exclusion, encroachment, and entrenchment hinder the Climate Change Adaptation (CCA) efforts of Bangladesh Climate Change Trust Fund (BCCTF). Enclosure refers to when CCA projects allocated to less vulnerable areas or expand the roles of influencing actors into the public sphere. Exclusion refers to when CCA projects limit affected people's access to resources or marginalize particular stakeholders in decision-making activities. Encroachment refers to when allocation of CCA projects and selection of location and issues degrade the environmental affect or contribute to other forms of disaster risk. Entrenchment refers to when CCA projects aggravate the disempowerment of common people worsen the concentrations of wealth and income inequality within a community. In the case of Bangladesh, climate change policies implemented under the country’s National Adaptation Program of Action (NAPA) and Bangladesh Climate Change Strategic Action Plan (BCCSAP) have somehow enabled influential-elites to mobilize and distribute resources through bureaucracies. Exclusionary forms of fund distribution of CCA exist at both the national and local scales. CCA related allocations have encroached through the low land areas development project without consulting local needs. Most severely, CCA related unequal allocations have entrenched social class trapping the backward communities vulnerable to climate related disasters. Planners and practitioners of BCCTF need to take necessary steps to eliminate the potential risks from the processes of enclosure, exclusion, encroachment, and entrenchment happens in project fund allocations.

Keywords: Bangladesh, climate change adaptation, political economy, public fund distribution

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Authors: Dmitriy V. Chulkov

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Escalation of commitment is defined as continuation of a project after receiving negative information about it. While literature in management and psychology identified various factors contributing to escalation behavior, this phenomenon has received little analysis in economics, potentially due to the apparent irrationality of escalation. In this study, we present an economic model of escalation with asymmetric information in a principal-agent setup where the agents are responsible for a project selection decision and discover the outcome of the project before the principal. Our theoretical model complements the existing literature on several accounts. First, we link the incentive to escalate commitment to a project with the turnover decision by the manager. When a manager learns the outcome of the project and stops it that reveals that a mistake was made. There is an incentive to continue failing projects and avoid admitting the mistake. This incentive is enhanced when the agent may voluntarily resign from the firm before the outcome of the failing project is revealed, and thus not bear the full extent of reputation damage due to project failure. As long as some successful managers leave the firm for extraneous reasons, outside firms find it difficult to link failing projects with certainty to managers that left a firm. Second, we demonstrate that non-CEO managers have reputation concerns separate from those of the CEO, and thus may escalate commitment to projects they oversee, when such escalation can attenuate damage to reputation from impending project failure. Such incentive for escalation will be present for non-CEO managers if the CEO delegates responsibility for a project to a non-CEO executive. If reputation matters for promotion to the CEO, the incentive for a rising executive to escalate in order to protect reputation is distinct from that of a CEO. Third, our theoretical model is supported by empirical analysis of changes in the firm’s operations measured by the presence of discontinued operations at the time of turnover among the top four members of the top management team. Discontinued operations are indicative of termination of failing projects at a firm. The empirical results demonstrate that in a large dataset of over three thousand publicly traded U.S. firms for a period from 1993 to 2014 turnover by top executives significantly increases the likelihood that the firm discontinues operations. Furthermore, the type of turnover matters as this effect is strongest when at least one non-CEO member of the top management team leaves the firm and when the CEO departure is due to a voluntary resignation and not to a retirement or illness. Empirical results are consistent with the predictions of the theoretical model and suggest that escalation of commitment is primarily observed in decisions by non-CEO members of the top management team.

Keywords: discontinued operations, escalation of commitment, executive turnover, top management teams

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Authors: D. De Matías Batalla

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This paper develops and extended eclectic paradigm to fit the firm internationalization process with the real international business world. The approach is based on Dunning´s, introducing new concepts like mode of entry, international joint venture o international mergers and acquisitions. At the same time is presented a model to describe the Spanish international mergers and acquisitions in order to determinate the most important factor that influence in this type of foreign direct investment.

Keywords: dunning, eclectic paradigm, foreign direct investment, IJV, international business, international management, multinational firms, firm internationalization process, M&A

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Authors: Rabail Khalid

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Social media has changed the business communication strategies in the corporate world. Firms are using social media to reach their maximum stakeholders in minimum time at different social media forums. The current study examines the role of firm-created social media communication on consumer brand perceptions and their loyalty to brand. An online survey is conducted through social media forums including Facebook and Twitter to collect data regarding social media communication of a well-reputed clothing company’s brand in Pakistan. A link is sent to 900 customers of that company. Out of 900 questionnaires, 534 were received. So, the response rate is 59.33%. During data screening and entry, 13 questionnaires are rejected due to incomplete answer. Therefore, 521 questionnaires are completed in all respect and seem to be helpful for the study. So, the positive response rate is 57.89%. The empirical results report positive and significant influence of company-generated social media communication on brand trust, brand equity, and brand loyalty. The findings of this study provide important information to the marketing professionals and brand managers to understand consumer behavior through social media communication.

Keywords: firm-created social media communication, brand trust, brand equity, consumer behavior, brand loyalty

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Authors: Saseyi Olaitan Olaoluwa, Osifeko Olalekan Remigious

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The study was meant to identify the impediments to female sports management and participation in the selected colleges. Seven colleges of education in the south west parts of the country were selected for the study. A total of one hundred and five subjects were sampled to supply data. Only one hundred adequately completed and returned, copies of the questionnaire were used for data analysis. The collected data were analysed descriptively. The result of the study showed that inadequate fund, personnel, facilities equipment, supplies, management of sports, supervision and coaching were some of the impediments to female sports management and participation. Athletes were not encouraged to participate. Based on the findings, it was recommended that the government should come to the aid of the colleges by providing fund and other needs that will make sports attractive for enhanced participation.

Keywords: female sports, impediments, management, Nigeria, south west, colleges

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Authors: Sangyun Han, Minki Kim

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R&D outsourcing is a strategy for acquiring the competitiveness of firms as an open innovation strategy. As increasing total R&D investment of firms, the ratio of amount of R&D outsourcing in it is also increased in Korea. In this paper, we investigate the determinants and effects of R&D outsourcing of firms. Through analyzing the determinants of R&D outsourcing and effect on firm’s performance, we can find some academic and politic issues. Firstly, in the point of academic view, distinguishing the determinants of R&D outsourcing is linked why the firms do open innovation. It can be answered resource based view, core competence theory, and etc. Secondly, we can get some S&T politic implication for transferring the public intellectual properties to private area. Especially, for supporting the more SMEs or ventures, government can get the basement and the reason why and how to make the policies.

Keywords: determinants, effects, R&D, outsourcing

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Authors: Pitsanu Poonpetpun, Witthaya Mekhum, Warangkana Kongsil

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This research was an attempt to study work motivation of employees in Siam Thai Co., Ltd. The study took place in Rayong with 59 employees as participants. The research tool was questionnaires which consisted of sets of questions about company’s policy, management, executives and good relationship within the firm. The questionnaires style was rating scale with 5 score bands. The questionnaires were analyzed by percentage, frequency, mean and standard deviation. From the study, the result showed that policy and management were in moderate scale, executive and managers were in moderate scale and relationship within the firm were in high scale.

Keywords: motivation, job, performance, employees

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Authors: Elhem Zaatir, Taher Hamza

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Several governments seek to implement gender parity on boards, but the results of doing so are not clear and could harm corporations and economies. The present paper aims to investigate the relationship between women’s presence on boards and firms’ performance in the context of the French listed firms during the quota period. A dynamic panel generalized method of moment estimation is applied to control the endogenous effect of board structure and reverse the causality impact of the financial performance. Our results show that the impact of gender diversity manifests in conflicting directions, positively affecting accounting performance and negatively influencing market performance. These results suggest that female directors create economic value, but the market discounts their impact. Apparently, they are subject to a biased evaluation by the market, which undervalues their presence on boards. Added to that, our results confirm a twofold nature of female representation in the French market. The effect of female directorship on firm performance varies with the affiliation of the directors. In other words, the positive impact of gender diversity on return on assets primarily originates from the positive effect of non-family-affiliated women directors on market performance rather than on the effect of family-affiliated women directors on ROA. Finally, according to our results, women’s demographic attributes namely the level of education and multiple directorships strongly and positively impact firm performance as measured by return on assets (ROA). Obviously, women directors seem to be appointed to the business case rather than as token directors.

Keywords: corporate governance, board of directors, women, gender diversity, demographic attributes, firm performance

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Authors: Sy, Melecio Jr

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The decision to adopt vertical integration (VI) is firm-specific, but there is a common practice among businesses in an industry to maximize the massive potential benefits of VI. This study aims to determine VI adoption in the restaurant industry in Davao City. Using a two-step sampling process, the study used a validated survey questionnaire among 264 restaurant owners and managers randomly selected and geographically classified. It is a quantitative study where the data were subjected to a structural equation model (SEM). The results revealed that VI is present but limited to procurement, production, restaurant services, and online marketing. Raw materials were outsourced while delivery to customers through third-party delivery services. VI slowly increased over ten years except for online marketing, which has grown significantly in a few years. The endogenous and exogenous variables were correlated and established the linear regression model. The SEM's best fit model revealed that strategic motives (SMOT) and market factors (MFAC) influenced VI adoption while MFAC is the best predictor. Favorable market factors may lead restaurants to adopt VI. It is, thus, recommended for restaurants to institutionalize strategic management, quantify the impact of double marginalization in future studies as a reason for VI and conduct this study during the new normal to see the influence of business efficiencies and firm economies on VI adoption.

Keywords: business efficiencies, business management, davao city, firm economies, market factors, philippines, strategic motives, structural equation model, supply chain, vertical integration adoption

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Authors: Wiriranai Brilliant Masara

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The African Peace and Security Architecture is widely celebrated and revered as a paragon of the will to address peace and security challenges in Africa. However, like any other institution, it is embedded with operational and institutional challenges that prevent it from effectively carrying out its mandate and turning goals into achieved results. The article examines the fundamental flaws and weaknesses of the African Peace and Security Architecture by focusing on its institutions, norms, instruments, and its relationship to Africa’s Regional Economic Communities. Therefore, the article reviews the flaws of the five elements of the African Peace and Security Architecture which are the Peace and Security Council, Panel of the Wise, Continental Early Warning System, African Standby Force, and Peace Fund.

Keywords: African Union, African Peace and Security Architecture, peace and security council, continental early warning system, African Standby Force, Panel of the Wise, Peace Fund

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Authors: Laszlo Szerb, Zsofia Voros

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In this article, we seek to answer why many attempts to empirically link entrepreneurial self-efficacy to growth expectations have failed. While doing so, we reconcile the literature on entrepreneurial self-efficacy and overconfidence. By analyzing GEM APS (Global Entrepreneurship Monitor Adult Population Survey) data, we show that early-stage entrepreneurs’ self-efficacy statements are systematically inflated. Our results also indicate that entrepreneurial overconfidence is fading and its form changes as business owners learn and gather experience. In addition, by using Ajzen’s Theory of Planned Behavior (2006) as a modeling framework, we illustrate that early stage business owners’ overconfidence results in overly high firm growth expectations. However, the changes in the form of overconfidence and the adjustments of expectations on market conditions as a venture ages alter the relationship between overconfidence and growth expectations across the business life-cycle stages. Overall, our study empirically links young entrepreneurs’ overconfidence to their growth expectations at the firm level. This link is important to establish as expected growth was linked to realized growth both on micro and macro levels. Moreover, we detected several moderators of this relationship providing a potential answer to why many studies failed to link entrepreneurial self-efficacy to growth expectations.

Keywords: self-efficacy, overconfidence, entrepreneurship, expected growth

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Authors: Jo Rhodes, Peter Lok, Zahra Sadeghinejad

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The aim of this study is to determine the impact of metacognition on top management team members and firm performance based on full team integration. A survey of 1500 small to medium enterprises (SMEs) was initiated and 140 firms were obtained in this study (with response rate of 9%). The result showed that different metacognitive abilities of managers [knowledge and experience] could enhance team decision-making and problem solving, resulting in greater firm performance. This is a significant finding for SMEs because these organisations have small teams with owner leadership and entrepreneurial orientation.

Keywords: metacognition, behavioural integration, top management team (TMT), performance

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Authors: Pulkeria Pascoe, Hawa P. Tundui, Marcia Dutra de Barcellos, Hans de Steur, Xavier Gellynck

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A majority of Micro and Small Enterprises (MSEs) experience low or no growth. Understanding their performance remains unfinished and disjointed as there is no consensus on the factors influencing it, especially in developing countries. Using a Resource-Based View (RBV) as the theoretical background, this cross-sectional study employed four regression models to examine the influence of firm-level factors (firm-specific characteristics, firm resources, manager socio-demographic characteristics, and selected management practices) on the overall performance variations among 442 Tanzanian micro and small agri-food processing firms. Study results confirmed the RBV argument that intangible resources make a larger contribution to overall performance variations among firms than that tangible resources. Firms' tangible and intangible resources explained 34.5% of overall performance variations (intangible resources explained the overall performance variability by 19.4% compared to tangible resources, which accounted for 15.1%), ranking first in explaining the overall performance variance. Firm-specific characteristics ranked second by influencing variations in overall performance by 29.0%. Selected management practices ranked third (6.3%), while the manager's socio-demographic factors were last on the list, as they influenced the overall performance variability among firms by only 5.1%. The study also found that firms that focus on proper utilization of tangible resources (financial and physical), set targets, and undertake better working capital management practices performed higher than their counterparts (low and average performers). Furthermore, accumulation and proper utilization of intangible resources (relational, organizational, and reputational), undertaking performance monitoring practices, age of the manager, and the choice of the firm location and activity were the dominant significant factors influencing the variations among average and high performers, relative to low performers. The entrepreneurial background was a significant factor influencing variations in average and low-performing firms, indicating that entrepreneurial skills are crucial to achieving average levels of performance. Firm age, size, legal status, source of start-up capital, gender, education level, and total business experience of the manager were not statistically significant variables influencing the overall performance variations among the agri-food processors under the study. The study has identified both significant and non-significant factors influencing performance variations among low, average, and high-performing micro and small agri-food processing firms in Tanzania. Therefore, results from this study will help managers, policymakers and researchers to identify areas where more attention should be placed in order to improve overall performance of MSEs in agri-food industry.

Keywords: firm-level factors, micro and small enterprises, performance, regression analysis, resource-based-view

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Authors: Shehu Usman Hassan

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Published accounting information in financial statements are required to provide various users - shareholders, employees, suppliers, creditors, financial analysts, stockbrokers and government agencies – with timely and reliable information useful for making prudent, effective and efficient decisions. The widespread failure in the financial information quality has created the need to improve the financial information quality and to strengthen the control of managers by setting up good firms structures. This paper investigates firm attributes from perspective of structure, monitoring, performance elements of listed deposit money banks in Nigeria. The study adopted correlational research design with balanced panel data of 14 banks as sample of the study using multiple regression as a tool of analysis. The result reveals that firms attributes (leverage, profitability, liquidity, bank size and bank growth) has as significant influence on earnings quality of listed deposit money banks in Nigeria after the adoption of IFRS, while the pre period shows that the selected firm attributes has no significant impact on earnings quality. It is therefore concluded that the adoption of IFRS is right and timely.

Keywords: earnings quality, firm attributes, listed deposit money bank, Nigeria

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Authors: Seongryong Kang, Woonjin Kim, Sungjoo Lee

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Under the environment of fierce competition and globalized economy, international technology collaboration has gained increasing attention as a way to improve innovation efficiency. While international technology transfer helps a firm to acquire necessary technology in a short period of time, it also has a risk; embedding external technology from overseas partners may cause a transaction cost due to the regional, cultural and language barriers, which tend to offset the benefits of such transfer. Though a number of previous studies have focused on the effects of technology in-transfer on firm performance, few have conducted in the context of international technology transfer. To fill this gap, this study aims to investigate the impact of international technology in-transfer on firm performance – both innovation and financial performance, with a particular emphasis on the diversity and intensity of such transfer. To do this, we adopted technology balance payment (TBP) data of Korean firms from 2010 to 2011, where an intermediate regression analysis was used to identify the intermediate effects of absorptive capacity. The analysis results indicate that i) the diversity and intensity of international technology transfer influence innovation performance by improving R&D capability positively; and ii) the diversity has a positive impact but the intensity has a negative impact on financial performance through the intermediation of R&D intensity. The research findings are expected to provide meaningful implications for establishing global technology strategy and developing policy programs to facilitate technology transfer.

Keywords: diversity, intensity, international technology acquisition, performance, technology transfer

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Authors: T. Holecki, J. Wozniak-Holecka, K. Sobczyk

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Development, implementation, and evaluation of the effects of health policy programs, resulting from the identified health needs and health status of residents, is the own task of all local government units in Poland. This is due to the obligation to provide access to healthcare services to all residents and the implementation of tasks in the field of health promotion based on specific legal acts. Until the end of 2016 local governments financed health policy programs only with their own funds. Currently, there are additional resources available from the public health insurance subsidising up to 80% of health policy programs costs in cities with a population under 5 thousand people and up to 40% in bigger cities. Changes in legal provisions do not translate automatically to increased involvement of local government units in the implementation of public health tasks. The main objective of the study was to assess the actual impact of the new legal regulation on financing local health policy programs on the engagement of local administration in this area of public health activity. To achieve this aim, we analyzed difference in the number of local governments developing and implementing health policy programs before and after the new law came into force. The aim of the study was also to estimate the level of expenditures incurred by self-government units and the National Health Fund to cover the costs of health policy programs. In the first stage of the project, legal acts concerning the subject of research and financial data published by the National Health Fund were analyzed. The material for the second, main stage of the study was the detailed financial data obtained from the National Health Fund and data obtained from local government units. The results present the situation in Poland in territorial terms, divided into 16 voivodships.

Keywords: health care system, health policy programs, local self-governments, public health

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Authors: Leah Ritchie

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By many accounts, the most recent economic recession and subsequent lack-luster recovery has demonstrated that corporate social responsibility is in a state of crisis. This crisis represents an opportunity for CSR scholars to play a role in restoring long-term economic growth and consumer confidence. In its current state however, CSR may not be in a position to facilitate positive change. In an attempt to remain relevant, the field has shifted toward a performance-based agenda that demonstrates in practical terms, how CSR can positively affect the financial and strategic performance of the firm. This paper argues that if CSR is to play a central role in helping to create a more equitable balance of power between industry and society, it must demonstrate the symbiotic nature of the relationship between these two entities, not just in terms of compartmentalized strategic and financial gain for the firm, but also toward maintaining a 'do no harm' imperative. Given the evidence that harm done to society is ultimately turned back on the firm, this is not simply a moralistic imperative. In order to affect change, CSR must also create an activist agenda to raise consciousness among the general citizenry toward mobilizing, uncovering, and repairing breeches in the implicit social contract between business and society.

Keywords: corporate social responsibility, multiple stakeholder view, economic recession, housing crisis

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Authors: Rania Sherif Abd El-Azim

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The role of corporate social responsibility (CSR) in business has evolved and led to an era where industry leaders can no longer overlook the importance of being participative corporate citizens. This is not only because of the media’s skeptical attitude toward whether or not companies’ CSR efforts are sincere but also due to key stakeholders’ ability to hold companies to a higher standard than ever before as companies can gain competitive advantage through CSR. These programs result in addressing global challenges, such as climate, and poverty, or simply improving employee retention, so it has become increasingly clear that CSR is not just the new trend for companies but a necessary tool that organizations must integrate into their overall business strategies to build a stronger reputation as well as to also increase credibility among their key audience and enhance customers’ willingness to repurchase, pay premium price and enhancing positive word of mouth. According to the literature review, the link between CSR and competitive advantage at the firm level has long been an important topic for both CSR researchers and practitioners. Thus CSR can play an important role in enhancing the firm's competitive advantage, which seems an attractive area to investigate specially in Egypt. So, this paper will investigate the role of corporate social responsibility in enhancing the firm competitive advantage.

Keywords: corporate social responsibility, competitive advantage, corporate reputation, customers' willingness to repurchase, willingness to pay premium price, positive word of mouth

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Authors: Patraporn Kaewkhanitarak, Weerawan Marangkun

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The objective of this study was to explore the establishment and to investigate the relationship between the gender (male or female) of SME owner-managers/ entrepreneurs and their risk perception in business activity. The study examines the data by interviewing 76 SME owner-managers/entrepreneurs’ responses (37 males, 39 females) in manufacturing, finance, human resources and marketing sector in the economic regions of Songkhla province, Thailand. This study found that four tools which were operation, cash flow, staff, and new market were perceived by the SME owner-managers/entrepreneurs at high level. However, male and female SME owner-managers/entrepreneurs perceived some factors such as the age of SME owner-managers/entrepreneurs, the duration of firm operation, type of firm, and type of business without significant differences. In contrast, the gender affected the risk perception about increasing cost, fierce competition, leapfrog development of firm, substandard staff, namely that male and female perceived these factors with significant differences. According to the research, SME owner-managers/entrepreneurs should develop their risk management competency to deal with the risk efficiently. Secondly, SME firms should gather into groups. Furthermore, it was shown that the five key tools used to manage these risky situations were the use of managerial competencies and clustering.

Keywords: risk perception, owner-managers/entrepreneurs, SME, Songkhla, Thailand

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Authors: Heba Abdelmotaal, Magdy Abdel-Kader

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Purpose: This study explores whether a firm’s effective political risk management is preventing real and accrual earnings management . Design/methodology/approach: Based on a sample of 130 firms operating in Egypt during the period 2008-2013, two hypotheses are tested using the panel data regression models. Findings: The empirical findings indicate a significant relation between real and accrual earnings management and political risk. Originality/value: This paper provides a statistically evidence on the effects of the political risk management failure on the mangers’ engagement in the real and accrual earnings management practices, and its impact on the firm’s performance.

Keywords: political risk, risk management failure, real activities manipulation, accrual earnings management

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Authors: Edoghogho Ogbeifun, Charles Mbohwa, J. H. C. Pretorius

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Several research report on the factors responsible for the delays in the completion of construction projects has identified the issue of funding as a critical factor; insufficient funding, low cash-flow or lack of funds. Indeed, adequate funding plays pivotal role in the effective execution of construction projects. In the last twenty years (or so), there has been increase in the funds available for infrastructure development in tertiary institution in Nigeria, especially, through the Tertiary Education Trust Fund. This funding body ensures that there is enough fund for each approved project, which is released in three stages during the life of the construction project. However, a random tour of many of the institutions reveals striking evidence of projects not delivered on schedule, to quality and sometime out rightly abandoned. This suggests, therefore, that there are other latent factors, responsible for project delays, that should be investigated. Thus, this research, a pilot scheme, is aimed at unearthing the possible reasons for the delays being experienced in the execution of construction projects for infrastructure upgrade in public tertiary institutions in Nigeria, funded by Tertiary Education Trust Fund. The multiple site case study of qualitative research was adopted. The respondents were the Directors of Physical Planning and the Directors of Works of four Nigerian Public Universities. The findings reveal that delays can be situated within three entities, namely, the funding body, the institutions and others. Therefore, the emerging factors have been classified as external factors (haven to do with the funding body), internal factors (these concern the operations within the institutions) and general factors. The outcome of this pilot exercise provides useful information to guide the Directors as they interact with the funding body as well as challenges themselves to address the loopholes in their internal operations.

Keywords: delays, external factors, funding, general factors, Internal factors

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Authors: I Putu Deny Arthawan Sugih Prabowo, Eko Nugroho, Rudy Hartanto

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Known, Green IT is a concept about how to use the technology (IT) wisely, efficiently, and environmentally. However, it exists as the consequence of the rapid-growth of the technology (especially IT) currently. Not only for the environments, the usage of Green IT applications, e.g. Cloud Computing (Cloud Storage) and E-Money (E-Cash), also gives its benefits for the organizational business strategy (especially the organizational product/service strategy) in order to gain the organizational competitive advantage (to be the market leader). This paper takes the case at E-Money as a Value-Added Services (VAS) of a telecommunication firm (company) in Indonesia which it also competes with the competitors’ similar product (service). Although it has been a popular telecommunication firm’s product/service, but its strategic values for the organization (firm) is still unknown, and therefore, the aim of this paper is for analyzing its strategic values for gaining the organizational competitive advantage. However, in this paper, its strategic value analysis is viewed by how to assess (consider) its strategic benefits and also manage the challenges or risks of its implementation at the organization as an organizational product/service. Then the paper uses a research model for investigating the influences of both perceived risks and the organizational cultures to the usage of Green IT Application at the organization and also both the usage of Green IT Application at the organization and the threats-challenges of the organizational products/services to the competitive advantage of the organizational products/services. However, the paper uses the quantitative research method (collecting the information from the field respondents by using the research questionnaires) and then, the primary data is analyzed by both descriptive and inferential statistics. Also in this paper, SmartPLS is used for analyzing the primary data by the quantitative research method. Besides using the quantitative research method, the paper also uses the qualitative research method, such as interviewing the field respondent and/or directly field observation, for deeply confirming the quantitative research method’s analysis results at the certain domain, e.g. both organizational cultures and internal processes that support the usage of Green IT applications for the organizational product/service (E-Money in this paper case). However, the paper is still at an infant stage of in-progress research. Then the paper’s results may be used as a reference for the organization (firm or company) in developing the organizational business strategies, especially about the organizational product/service that relates to Green IT applications. Besides it, the paper may also be the future study, e.g. the influence of knowledge transfer about E-Money and/or other Green IT application-based products/services to the organizational service performance that relates to the product (service) in order to gain the competitive advantage.

Keywords: Green IT, competitive advantage, strategic value, organization (firm or company), organizational product (service)

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Authors: Samson Viulu, Hugo Hebala, Duddley Kopu

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Constituency Development Fund (CDF) is a controversial fund that has existed in the Solomon Islands since the early 90s to date. It is largely controversial because it is directly handled by members of parliament (MPs) of the Solomon Islands legislation chamber. It is commonly described as a political slash fund because only voters of MPs benefit from it to retain loyalty. The CDF was established by a legislative act in 2013; however, it does not have any subsidiary regulations to it, therefore, very weak governance. CDF is purposely to establish development projects in the rural areas of the Solomon Islands to spur economic growth. Although almost USD500M was spent in CDF in the last decade, there has been no growth in the economy of the Solomon Islands; rather, a regress. Solomon Islands has now formulated a first home-grown policy aimed at guiding the overall development of the fifty constituencies, improving delivery mechanisms of the CDF, and strengthening its governance through the regulation of the CDF Act 2013. The Solomon Islands Constituency Development Policy is the first for the country since gaining independence in 1978 and gives strong emphasis on a cross-sectoral approach through effective partnerships and collaborations and decentralizing government services to the isolated rural areas of the country. The new policy is driving the efforts of the political government to decentralize government services to isolated rural communities to encourage the participation of rural dwellers in economic activities. The decentralization will see the establishment of constituency offices within all constituencies and the piloting of townships in constituencies that have met the statutory requirements of the state. It also encourages constituencies to become development agents of the national government than being mere political boundaries. The decentralization will go in line with the establishment of the Solomon Islands Special Economic Zones (SEZ), where investors will be given special privileges and exemptions from government taxes and permits to attract tangible development to occur in rural constituencies. The design and formulation of the new development policy are supported by the UNDP office in the Solomon Islands. The new policy is promoting a reorientation on the allocation of resources more toward the productive and resource sectors, making access to finance easier for entrepreneurs and encouraging growth in rural entrepreneurship in the fields of agriculture, fisheries, down streaming, and tourism across the Solomon Islands. This new policy approach will greatly assist the country to graduate from the least developed countries status in a few years’ time.

Keywords: decentralization, constituency development fund, Solomon Islands constituency development policy, partnership, entrepreneurship

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Authors: Agnes Utari Widyaningdyah

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This study investigates the relationship between strategy, intellectual capital (IC) disclosure, and the firm’s performance by considering business competition as a moderating variable. The secondary sectors manufacturing firms in the Jakarta Stock Industrial Classification as sample because this group represents a knowledge-intensive firm according to the OECD (Organization for Economic Cooperation and Development) criteria. Using path analysis, this study reveals that there is a significant influence of strategy toward IC disclosure. Firms with differentiation strategy tend to withhold its strategic information included IC because of afraid in losing their competitive advantage. The results also indicate that firms are more likely to withhold information about IC if they perceive that current or potential competition is strong. However, firms should consider that IC disclosure is a positive signal to the investor.

Keywords: strategy, IC disclosure, market performance, business competition

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Authors: Mona Rashidirad, Hamid Salimian

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Dynamic capabilities, as the most considerable capabilities of firms in the current fast-moving economy may not be sufficient for performance improvement, but their contribution to performance is undeniable. While much of the extant literature investigates the impact of dynamic capabilities on organisational performance, little attention has been devoted to understand whether and how dynamic capabilities create value. Dynamic capabilities as the mirror of competitive strategies should enable firms to search and seize new ideas, integrate and coordinate the firm’s resources and capabilities in order to create value. A careful investigation to the existing knowledge base remains us puzzled regarding the relationship among competitive strategies, dynamic capabilities and value creation. This study thus attempts to fill in this gap by empirically investigating the impact of dynamic capabilities on value creation and the mediating impact of competitive strategy on this relationship. We aim to contribute to dynamic capability view (DCV), in both theoretical and empirical senses, by exploring the impact of dynamic capabilities on firms’ value creation and whether competitive strategy can play any role in strengthening/weakening this relationship. Using a sample of 491 firms in the UK telecommunications market, the results demonstrate that dynamic sensing, learning, integrating and coordinating capabilities play a significant role in firm’s value creation, and competitive strategy mediates the impact of dynamic capabilities on value creation. Adopting DCV, this study investigates whether the value generating from dynamic capabilities depends on firms’ competitive strategy. This study argues a firm’s competitive strategy can mediate its ability to derive value from its dynamic capabilities and it explains the extent a firm’s competitive strategy may influence its value generation. The results of the dynamic capabilities-value relationships support our expectations and justify the non-financial value added of the four dynamic capability processes in a highly turbulent market, such as UK telecommunications. Our analytical findings of the relationship among dynamic capabilities, competitive strategy and value creation provide further evidence of the undeniable role of competitive strategy in deriving value from dynamic capabilities. The results reinforce the argument for the need to consider the mediating impact of organisational contextual factors, such as firm’s competitive strategy to examine how they interact with dynamic capabilities to deliver value. The findings of this study provide significant contributions to theory. Unlike some previous studies which conceptualise dynamic capabilities as a unidimensional construct, this study demonstrates the benefits of understanding the details of the link among the four types of dynamic capabilities, competitive strategy and value creation. In terms of contributions to managerial practices, this research draws attention to the importance of competitive strategy in conjunction with development and deployment of dynamic capabilities to create value. Managers are now equipped with solid empirical evidence which explains why DCV has become essential to firms in today’s business world.

Keywords: dynamic capabilities, resource based theory, value creation, competitive strategy

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Authors: Sima Majnooni

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This paper discusses the Green Climate Fund's environmental and social management framework (GCF). The environmental and social management framework ensures the accredited entity considers the GCF's accreditation standards and effectively implements each of the GCF-funded projects. The GCF requires all accredited entities to meet basic transparency and accountability standards as well as environmental and social safeguards (ESMS). In doing so, the accredited entity sets up different independent units. One of these units is called the Grievance Mechanism. When allegations of environmental and social harms are raised in association with GCF-funded activities, affected parties can contact the entity’s grievance unit. One of the most challenging things about the accredited entity's grievance unit is the lack of available information and resources on the entities' websites. Many AEs have anti-corruption or anti-money laundering unit, but they do not have the environmental and social unit for affected people. This paper will argue the effectiveness of environmental and social grievance mechanisms of AEs by using a qualitative approach to indicate how many of AEs have a poor or an effective GRM. Some ESMSs seem highly effective. On the other hand, other mechanisms lack basic requirements such as a clear, transparent, uniform procedure and a definitive timetable. We have looked at each AE mechanism not only in light of how the website goes into detail regarding the process of grievance mechanism but also in light of their risk category. Many mechanisms appear inadequate for the lower level risk category entities (C) and, even surprisingly, for many higher-risk categories (A). We found; in most cases, the grievance mechanism of AEs seems vague.

Keywords: grievance mechanism, vague environmental and social policies, green climate fund, international climate finance, lower and higher risk category

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