World Academy of Science, Engineering and Technology

Authors: Feddaoui Amina

Abstract:

In a broad sense, corporate governance covers the organization of the control and management. The term is also used in a narrower sense, to refer to the relationship between shareholders, and the company’s board. There are a lot of discussions devoted to the understanding of the corporate governance role and its principles. In this paper, we are going to describe the definition of corporate governance as a control system and its principles, and find the role of corporate governance and its pillars. Finally, we are going to drop the theoretical study on the case of Japan.

Keywords: Corporate governance, place, role, Japan.

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Authors: Seyed Hamidreza Hejazi Dehghani, Neda Khounsari

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Quick growth of electronic commerce in developed countries means that developing nations must change in their commerce strategies fundamentally. Most organizations are aware of the impact of the Internet and e-Commerce on the future of their firm, and thus, they have to focus on organizational factors that have an effect on the deployment of an e-Commerce strategy. In this situation, it is essential to identify organizational factors such as the organizational culture, human resources, size, structure and product/service that impact an e-commerce strategy. Accordingly, this research specifies the effects of organizational factors on applying an e-commerce strategy in the Namakin food industry. The statistical population of this research is 95 managers and employees. Cochran's formula is used for determination of the sample size that is 77 of the statistical population. Also, SPSS and Smart PLS software were utilized for analyzing the collected data. The results of hypothesis testing show that organizational factors have positive and significant effects of applying an e-Commerce strategy. On the other hand, sub-hypothesizes show that effectiveness of the organizational culture and size criteria were rejected and other sub-hypothesis were accepted.

Keywords: Electronic commerce, organizational factors, attitude of managers, organizational readiness.

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Authors: Rita U. Onolemhemhen, Saheed L. Bello, Akin P. Iwayemi

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The effectiveness of energy demand policy depends on identifying the key drivers of energy demand both in the short-run and the long-run. This paper examines the influence of regional differences on the link between energy demand and other explanatory variables for Nigeria, China and USA using the Vector Error Correction Model (VECM) approach. This study employed annual time series data on energy consumption (ED), real gross domestic product (GDP) per capita (RGDP), real energy prices (P) and urbanization (N) for a thirty-six-year sample period. The utilized time-series data are sourced from World Bank’s World Development Indicators (WDI, 2016) and US Energy Information Administration (EIA). Results from the study, shows that all the independent variables (income, urbanization, and price) substantially affect the long-run energy consumption in Nigeria, USA and China, whereas, income has no significant effect on short-run energy demand in USA and Nigeria. In addition, the long-run effect of urbanization is relatively stronger in China. Urbanization is a key factor in energy demand, it therefore recommended that more attention should be given to the development of rural communities to reduce the inflow of migrants into urban communities which causes the increase in energy demand and energy excesses should be penalized while energy management should be incentivized.

Keywords: Economic growth, energy demand, income, real GDP, urbanization, VECM.

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Authors: C. Noknoi, W. Boripunt, K. Boomid, S. Suwitphanwong

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This research studies the factors influencing the wages of native workers in Thailand's construction industry. The sample used comprised some 156 native construction workers from Songkhla Province, Thailand. The utilized research instrument was a questionnaire, with the data being analyzed according to frequency, percentage, and regression analysis. The results revealed that in general, native Thai construction workers are generally married males aged between 26 and 37 years old. They typically have four to six years of education, are employed as laborers with an average salary of 4,000–9,200 baht per month, and have fewer than five years of work experience. Most Thai workers work five days a week. Each establishment typically has 10–30 employees, with fewer than 10 of these being migrant workers in general. Most Thai workers are at a 20% to 40% risk from work, and they have never changed employer. The average wage of Thai workers was found to be 10,843.03 baht per month with a standard deviation of 4,898.31 baht per month. Hypothesis testing revealed that position, work experience, and the number of times they had switched employer were the factors most affecting the wages of native Thai construction workers. These three factors alone explain the salaries of Thai construction workers at 51.9%.  

Keywords: Construction industry, native workers, Thailand, wages.

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Authors: Fruzsina Pataki-Bittó, Edit Németh

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On the one hand, new technologies and communication tools improve employee productivity and accelerate information and knowledge transfer, while on the other hand, information overload and continuous interruptions make it even harder to concentrate at work. It is a great challenge for companies to find the right balance, while there is also an ongoing demand to recruit and retain the talented employees who are able to adopt the modern work style and effectively use modern communication tools. For this reason, this research does not focus on the objective measures of office interruptions, but aims to find those disruption factors which influence the comfort and job satisfaction of employees, and the way how they feel generally at work. The focus of this research is on how employees feel about the different types of interruptions, which are those they themselves identify as hindering factors, and those they feel as stress factors. By identifying and then reducing these destructive factors, job satisfaction can reach a higher level and employee turnover can be reduced. During the research, we collected information from depth interviews and questionnaires asking about work environment, communication channels used in the workplace, individual communication preferences, factors considered as disruptions, and individual steps taken to avoid interruptions. The questionnaire was completed by 141 office workers from several types of workplaces based in Hungary. Even though 66 respondents are working at Hungarian offices of multinational companies, the research is about the characteristics of the Hungarian labor force. The most important result of the research shows that while more than one third of the respondents consider office noise as a disturbing factor, personal inquiries are welcome and considered useful, even if in such cases the work environment will not be convenient to solve tasks requiring concentration. Analyzing the sizes of the offices, in an open-space environment, the rate of those who consider office noise as a disturbing factor is surprisingly lower than in smaller office rooms. Opinions are more diverse regarding information communication technologies. In addition to the interruption factors affecting the employees' job satisfaction, the research also focuses on the role of the offices in the 21^st century.

Keywords: Information overload, interruption, job satisfaction, office environment, work efficiency.

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Authors: Mikhail V. Khachaturyan, Inga A. Koryagina, Maria Nikishova

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The study investigates the impact of the ongoing financial crisis, started in the 2^nd half of 2014, on marketing budgets spent by Fast-moving consumer goods companies. In these conditions, special importance is given to efficient possessory risk management systems. The main objective for establishing and developing possessory risk management systems for FMCG companies in a crisis is to analyze the data relating to the external environment and consumer behavior in a crisis. Another important objective for possessory risk management systems of FMCG companies is to develop measures and mechanisms to maintain and stimulate sales. In this regard, analysis of risks and threats which consumers define as the main reasons affecting their level of consumption become important. It is obvious that in crisis conditions the effective risk management systems responsible for development and implementation of strategies for consumer demand stimulation, as well as the identification, analysis, assessment and management of other types of risks of economic security will be the key to sustainability of a company. In terms of financial and economic crisis, the problem of forming and developing possessory risk management systems becomes critical not only in the context of management models of FMCG companies, but for all the companies operating in other sectors of the Russian economy. This study attempts to analyze the specifics of formation and development of company possessory risk management systems. In the modern economy, special importance among all the types of owner’s risks has the risk of reduction in consumer activity. This type of risk is common not only for the consumer goods trade. Study of consumer activity decline is especially important for Russia due to domestic market of consumer goods being still in the development stage, despite its significant growth. In this regard, it is especially important to form and develop possessory risk management systems for FMCG companies. The authors offer their own interpretation of the process of forming and developing possessory risk management systems within owner’s management models of FMCG companies as well as in Russian economy in general. Proposed methods and mechanisms of problem analysis of formation and development of possessory risk management systems in FMCG companies and the results received can be helpful for researchers interested in problems of consumer goods market development in Russia and overseas.

Keywords: FMCG companies, marketing budget, risk management, owner, Russian economy, organization, formation, development, system.

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Authors: Mohammad T. Uddin, Aurup R. Dhar

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The study was conducted to assess the impact of conservation agriculture practice on farmers’ socioeconomic condition and soil environmental quality in Bangladesh. A total of 450 (i.e., 50 focal, 150 proximal and 250 control) farmers from five districts were selected for this study. Descriptive statistics like sum, averages, percentages, etc. were calculated to evaluate the socioeconomic data. Using Enyedi’s crop productivity index, it was found that the crop productivity of focal, proximal and control farmers was increased by 0.9, 1.2 and 1.3 percent, respectively. The result of DID (Difference-in-difference) analysis indicated that the impact of conservation agriculture practice on farmers’ average annual income was significant. Multidimensional poverty index (MPI) indicates that poverty in terms of deprivation of health, education and living standards was decreased; and a remarkable improvement in farmers’ socioeconomic status was found after adopting conservation agriculture practice. Most of the focal and proximal farmers stated about increased soil environmental condition where majority of control farmers stated about constant environmental condition in this regard. The Probit model reveals that minimum tillage operation, permanent organic soil cover, and application of compost and vermicompost were found significant factors affecting soil environmental quality under conservation agriculture. Input support, motivation, training programmes and extension services are recommended to implement in order to raise the awareness and enrich the knowledge of the farmers on conservation agriculture practice.

Keywords: Conservation agriculture, crop productivity, socioeconomic status, soil environment quality.

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Authors: Piotr Prewysz-Kwinto

Abstract:

The market of financial instruments with high risk is developing very dynamically in recent years and attracts more and more interest of investors. It consists essentially of two groups of instruments, i.e. derivatives and exchange traded product (ETP), and each year new types are introduced and offered to investors. The aim of this paper is to present the principles concerning financial instruments with high investment risk available on the Warsaw Stock Exchange (WSE), because they have quite complex constructions, and to evaluate the development of this market. In order to achieve this aim, statistical data from 2014-2016 was analyzed. The results confirm that the financial instruments with high investment risk available on the WSE constitute a diversified and the most numerous group of financial instruments and attract the most interest of investors. Responsible investing requires, however, a good knowledge of how they work and how they can generate profit to not expose oneself to unexpected losses.

Keywords: Derivatives, exchange traded products, financial instruments, financial market, risk, stock exchange.

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Authors: Christina Tay

Abstract:

This paper investigates the impact of Information and Communication Technology (ICT) on bilateral trade in goods. Empirical analysis is performed on the United States and 34 partnering countries from 2000 to 2013. Our econometric model fits the data well, explaining 52% of the variation in trade flows for goods trade, 53.2% of the variation in trade flows for goods export and 48% of the variation in trade flows for goods import. For every 10% increase in fixed broadband Internet subscribers per 100 people increases, goods trade by 7.9% and for every 5% increase in fixed broadband Internet subscribers per 100 people, goods export increases by 11%. For every 1% increase in fixed telephone line penetration per 100 people, goods trade increases by 26.3%, goods export increases by 24.4% and goods import increases by 24.8%. For every 1% increase in mobile-cellular telephone subscriptions, goods trade decreases by 29.6% and goods export decreases by 27.1%, whilst for every 0.01% increase in mobile-cellular telephone subscriptions, goods import decreases by 34.3%. For every 1% increase in the percentage of population who used the Internet from any location in the last 12 months Internet, goods trade increases by 32.5%, goods export increases by 38.9%, goods import increases by 33%. All our trade determinants as well as our ICT variables have significances on goods exports for the US. We can also draw from our study that the US relies more rather heavily on ICT for its goods export compared to goods import.

Keywords: Bilateral trade, goods trade, information and communication technologies, Internet.

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Authors: Geoffrey J. Blanford, Christoph Weissbart

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The prospects for the European power sector indicate that it has to almost fully decarbonize in order to reach the economy-wide target of CO₂-emission reduction. We apply the EU-REGEN model to explain the penetration of RES from an economic perspective, their spatial distribution, and the complementary role of conventional generation technologies. Furthermore, we identify economic consequences of national energy and climate targets. Our study shows that onshore wind power will be the most crucial generation technology for the future European power sector. Its geographic distribution is driven by resource quality. Gas power will be the major conventional generation technology for backing-up wind power. Moreover, a complete phase out of coal power proves to be not economically optimal. The paper demonstrates that existing national targets have a negative impact, especially on the German region with higher prices and lower revenues. The remaining regions profit are hardly affected. We encourage an EU-wide coordination on the expansion of wind power with harmonized policies. Yet, this requires profitable market structures for both, RES and conventional generation technologies.

Keywords: European decarbonization pathway, power market investment, public policies, technology choice.

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Authors: Charawee Butbumrung

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The purpose of this study is to evaluate the monetary worthiness of investment and the usefulness of risk estimation as a tool employed by a production section of an electronic factory. This study employed the case study of accidents occurring in production areas. Data is collected from interviews with six production of safety coordinators and collect the information from the relevant section. The study will present the ratio of benefits compared with the operation costs for investment. The result showed that it is worthwhile for investment with the safety measures. In addition, the organizations must be able to analyze the causes of accidents about the benefits of investing in protective working process. They also need to quickly provide the manual for the staff to learn how to protect themselves from accidents and how to use all of the safety equipment.

Keywords: Cost and benefit, enterprises in Thailand, investment in safety and health, risk estimation.

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Authors: Chin Tangtarntana

Abstract:

The main purpose of this study was to investigate the effects of animation in offensive product advertising. Experiment was conducted to collect consumer responses toward animated and static ads of offensive and non-offensive products. The study was conducted by distributing questionnaires to the target respondents. According to statistics from Innovative Internet Research Center, Thailand, majority of internet users are 18 – 44 years old. The results revealed an interaction between ad design and offensive product. Specifically, when used in offensive product advertisements, animated ads were not effective for consumer attention, but yielded positive response in terms of attitude toward product. The findings support that information processing model is accurate in predicting consumer cognitive response toward cartoon ads, whereas U&G, arousal, and distinctive theory is more accurate in predicting consumer affective response. In practical, these findings can also be used to guide ad designers and marketers that are suitable for offensive products.

Keywords: Animation, banner ad design, consumer responses, offensive product advertising, stock exchange of Thailand.

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Authors: Routsukol Sunalai

Abstract:

This research purpose is to study and compare the administration of Buddhist monks at northeastern Thailand. The samples used in the study are the priest in the Northeast by simple random sampling for 190 sampling. The tools used in this study is questioner were created in the 40 question items. The statistics used for data analysis were percentage, average, and standard deviation. The research found that the human resources management for the Buddhist monks as a whole is moderate. But it was found that the highest average is the policy followed by the management information. The Buddhist monks aged less than 25 years old with the overall difference was not significant. The priests who are less than 10 years in the monk experience and the priest has long held in the position for 10 years are not different in the significant level.

Keywords: Buddhist monks, human resources management, Northeastern Thailand, hotel industry, the administration of Buddhist monks.

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Authors: Nareenad Panbun

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The objective is to study the knowledge utilization from the participants of the announcer training program by National Broadcasting and Telecommunications Commission (NBTC). This study is a quantitative research based on surveys and self-answering questionnaires. The population of this study is 100 participants randomly chosen by non-probability sampling method. The results have shown that most of the participants were satisfied with the topics of general knowledge about the broadcasting and television business for 37 people representing 37%, followed by the topics of broadcasting techniques. The legal issues, consumer rights, television business ethics, and credibility of the media are, in addition to the media's role and responsibilities in society, the use of language for successful communication. Therefore, the communication language skills are the most important for all of the trainees and will also build up the image of the broadcasting center.

Keywords: Announcer training program, participant, requirements announced, theory of utilization.

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Authors: Duangsamorn Rungsawanpho

Abstract:

The objectives of this paper are to explore the corporate cultures management as determinants of employee retention company in Thailand. This study using mixed method methodology. Data collection using questionnaires and in-depth interviews. The statistics used for data analysis were percentage, mean, standard deviation and inferential statistics will include. The results show that the corporate management culture is perfect for any organization but it depends on the business and the industry because the situations or circumstances that corporate executives are met is different. Because the finding explained that the employees of the company determine the achievement of value-oriented by the corporate culture and international relations is perceived most value for their organizations. In additional we found the employees perceiving with participation can be interpreted as a positive example, many employees feel that they are part of management because they care about their opinions or ideas related with their work.

Keywords: Corporate culture, employee retention, retention of employees, management approaches.

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Authors: Supranee Wattanasin

Abstract:

The purpose of this research was to enhance student’s media literacy. The process was divided into 4 periods: the first phase was to hold the meeting for 100 representatives from various institutions in Thailand; the second phase allowed them to design activities to be used in their institutions; the third implemented activities to reach other target groups; and the last phase was to summarize results. It was found that the participants had clear understanding on media literacy. They knew well about the media. In other words, they knew the difference between creative media and bad ones. Students could use analytical process when searching for information. Thus, the project enabled the students to use analytical thinking skills in designing new activities. Therefore, they could creatively integrate Thai folk song with short movies and cartoons. To increase students’ media literacy, there should be chances for them to gain first-hand experience.

Keywords: Management, development, media literacy, Thai students.

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Authors: Beata Wentura-Dudek

Abstract:

In Sweden the needs of the labor market are regularly monitored. Test results and forecasts translate directly into the education system in this country, which is largely a state system. Sweden is one of the first countries in Europe that has used active labor market policies. It is realized that there is an active unemployment which includes a wide range of activities that can be divided into three groups: Active forms of influencing the creation of new jobs, active forms that affect the labor supply and active forms for people with disabilities. Most of the funding is allocated there for subsidized employment and training. Research conducted in Sweden shows that active forms of counteracting unemployment focused on the long-term unemployed can significantly raise the level of employment in this group.

Keywords: Sweden, research conducted in Sweden, labour market, labour market policies, unemployment, active forms of influencing the creation of new jobs, active forms of counteracting unemployment, employment, subsidized employment education.

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Authors: Paul O. Udofot, Emem B. Inyang

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The study investigated the variability in aptitude amidst interactive effects of several social and environmental factors that could influence individual tendencies to engage in entrepreneurship in Nigeria. Consequently, the study targeted a population having similar backgrounds in type and level of higher education that are tailored toward enterprise management and development in the Niger Delta region of Nigeria. A two-stage sampling procedure was used to select 67 respondents. Primarily, the study assessed the salient pattern of entrepreneurship aptitude of respondents, and estimated and analyzed the index against their personal characteristics. Male respondents belonged to two extremes of aptitude index ranges (poor and high). Though female respondents did not exhibit a poor entrepreneurship aptitude index, the incidence percentage of the high index range of entrepreneurship aptitude among male trainees was more than the combined incidence percentage of their female counterparts. Respondents’ backgrounds outside gender presented a serious influence on entrepreneurship uptake likelihood if all situations were normal.

Keywords: Aptitude, entrepreneurship, entrepreneurial orientation, gender divide, intention, trainee.

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Authors: Mei-Fang Wu, Shu-Li Wang, Tsung-Yueh Lu, Feng-Tsung Cheng

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Strengthening core competitiveness is the main goal of enterprises in a fierce competitive environment. Accurate cost information is a great help for managers in dealing with operation strategies. This paper establishes a profitability management mechanism that applies the Activity-Based Benefit approach (ABBA) to solve the profitability for each customer from the market. ABBA provides financial and non-financial information for the operation, but also indicates what resources have expired in the operational process. The customer profit management model shows the level of profitability of each customer for the company. The empirical data were gathered from a case company operating in the leather industry in Taiwan. The research findings indicate that 30% of customers create little profit for the company as a result of asking for over 5% of sales discounts. Those customers ask for sales discount because of color differences of leather products. This paper provides a customer’s profitability evaluation mechanism to help enterprises to greatly improve operating effectiveness and promote operational activity efficiency and overall operation profitability.

Keywords: Activity-based benefit approach, customer profit analysis, leather industry, profitability management mechanism.

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Authors: Mohamed Saad Ahmed Hussien

Abstract:

This paper discusses the risk management in Islamic banks and aims to determine the difference in the practices and methods of risk management in those banks compared to the conventional banks, and to make a case study of the biggest Islamic bank in Egypt (Faisal Islamic Bank of Egypt) to identify the most important financial risks faced and how to manage those risks. It was found that Islamic banks face two types of risks. The first type is similar to the risks in conventional banks; the second type is the additional risks which facing the Islamic banks only as a result of some Islamic modes of financing. With regard to the risk management, Islamic banks such as conventional banks applied the regulatory rules issued by the Central Banks and the Basel Committee; Islamic banks also applied the instructions and procedures issued by the Islamic Financial Services Board (IFSB). Also, Islamic banks are similar to the conventional banks in the practices and methods which they use to manage the risks. And there are some factors that may affect the risk management in Islamic banks, such as the size of the bank and the efficiency of the administration and the staff of the bank.

Keywords: Conventional banks, Faisal Islamic Bank of Egypt, Islamic banks, risk management.

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Authors: Nora Yusma Bte Mohamed Yusoff, Hussain Ali Bekhet

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The rationalization of a gradual subsidies reforms plan has been set out by the Malaysian government to achieve the high-income nation target. This paper attempts to analyze the impacts of energy subsidy reform policy on fiscal deficit and macroeconomics variables in Malaysia. The Computable General Equilibrium (CGE) Model is employed. Three simulations based on different groups of scenarios have been developed. Importantly, the overall results indicate that removal of fuel subsidy has significantly improved the real GDP and reduced the government fiscal deficit. On the other hand, the removal of the fuel subsidy has increased most of the local commodity prices, especially energy commodities. The findings of the study could provide some imperative inputs for policy makers, especially to identify the right policy mechanism. This is especially ensures the subsidy savings from subsidy removal could be transferred back into the domestic economy in the form of infrastructure development, compensation and increases in others sector output contributions towards a sustainable economic growth.

Keywords: CGE, deficit, energy, reform, subsidy.

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Authors: Saheed A. Gbadegeshin

Abstract:

Commercialization method is a means to make inventions available at the market for final consumption. It is described as an important tool for keeping business enterprises sustainable and improving national economic growth. Thus, there are several scholarly publications on it, either presenting or testing different methods for commercialization. However, young entrepreneurs, technologists and scientists would like to know the best method to commercialize their innovations. Then, this question arises: What is the best commercialization method? To answer the question, a systematic literature review was conducted, and practitioners were interviewed. The literary results revealed that there are many methods but new methods are needed to improve commercialization especially during these times of economic crisis and political uncertainty. Similarly, the empirical results showed there are several methods, but the best method is the one that reduces costs, reduces the risks associated with uncertainty, and improves customer participation and acceptability. Therefore, it was concluded that new commercialization method is essential for today's high technologies and a method was presented.

Keywords: Commercialization method, high technology, lean start-up methodology, technology, knowledge.

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Authors: F. Demir

Abstract:

Innovation is highly critical for every company, especially for technology-based organizations looking to sustain their competitive advantage. However, this is not an easy task. Regardless of the size of the enterprise, market and location, all organizations face numerous challenges. Even though huge barriers to innovation exist in different countries, firm- and industry-specific challenges can be distinguished. This paper examines innovation strategies and obstacles to innovation in research and technology organizations (RTO) of Turkey. From the most important to the least, nine different challenges are ranked according the results of this survey. The findings reveal that to take the lead in innovation, financial constraint is the biggest challenge, which is consistent with the related literature. It ranked number one in this study. Beyond that, based on a sample of 40 RTOs, regional challenges such as underdeveloped regional innovation ecosystem plays a significant role in hampering innovation. Most of the organizations (55%) embrace an incremental approach to innovation, while only few pursue radical shifts. About 40% of the RTOs focus on product innovation, and 27.5% of them concentrate on technological innovation, while a very limited number aim for operational excellence and customer engagement as the focus of their strategic innovation efforts.

Keywords: Innovation strategies, innovation challenges, emerging economies, research and technology organizations.

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Authors: Lara F. Horani

Abstract:

Design is one of the most important stages in the process of product development. Product design has experienced significant changes over the years ranging from concentrating on cost and performance to combining economic, environmental and social considerations in customer requirements. Its evolution is in accordance with rapidly changing technology, economic situations, and climate change and environmental issues, as well as social context. Within product design, sustainability is a concept that balances economic, social and environmental aspects. This research aims to express changes in customer requirements over time from the viewpoint of sustainable design. It does so by systematically reviewing a broad scope of sustainable design literature. There is a need for a model to consider the changes that take place in customer requirements over time to build a successful relationship with customers which has been presented. Today’s literature does very little to even mention it, let alone present any progress in it. Systematic literature reviews are conducted primarily to: summarize the existing literature around a subject, highlight commonalities to build consensus, illuminate differences, identify gaps that can be filled, provide a background to position future research, and build a framework that can help designers meet the challenges of sustainable design.

Keywords: Sustainable design, customer requirements for sustainable design, changing customer requirements for sustainable design, systematic literature reviews.

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Authors: F. Fabeil Noor, Roslinah Mahmud, Janice L. H. Nga, Rasid Mail

Abstract:

In Malaysia, particularly in Sabah, the government has been promoting entrepreneurship among rural people to encourage them to earn their living by making good use of the diverse natural resources and local cultures of Sabah. Nevertheless, despite the government’s aim to encourage more local community in rural area to involve in entrepreneurship, the involvement of community in entrepreneurial activity is still low. It is crucial to identify the factors stimulate (or prevent) the involvement of rural community in Sabah in entrepreneurial activity. Therefore, this study tries to investigate the personal and contextual factors that may have impact on decision to start a business among the local community in Mantanani Island. In addition, this study also aims to identify the perceived benefits they receive from entrepreneurial activity. A structured face-to-face interview was conducted with 61 local communities in Mantanani Island. Data analysis revealed that passion, personal skills and self-confidence are the significant internal factors to entrepreneurial activity, whereas access to finance, labour and infrastructure are the significant external factors that are found to influence entrepreneurship. In terms of perceived rewards they received from taking up small business, it was found that respondents are predominantly agreed that entrepreneurship offers financial benefit than non-financial. In addition, this study also offers several suggestions for entrepreneurship development in Mantanani Island and it is hoped that this study may help the related agency to develop effective support policies in order to encourage more people in rural area to involve in entrepreneurship.

Keywords: Entrepreneurship, motivation, perceived rewards, rural community.

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Authors: Panprae Bunyapukkna

Abstract:

The aim of this study is to: (1) measure the overall attitudes of Thai mobile phone users toward SMS advertisements, and (2) identify demographic factors that affect the overall attitudes toward SMS advertisements of Thai mobile phone users. The sample in this study consists of 100 individuals who possess at least one mobile phone and who either live, work or study in Bangkok. Thirty-three respondents are male, while the other 67 respondents are female. The respondents are aged between 21 years and 45 years old. Convenient sampling technique was used in this study. The results of this study indicate that Thai mobile phone users in general hold negative attitudes toward SMS advertisements, and that negative attitudes prevailed in nearly all different demographic groups. The results also suggest that Thai mobile phone users find SMS advertisements irritating, but are indifferent as to whether SMS ads are informative, credible and entertaining as well.

Keywords: Credibility, consumer attitudes, SMS advertising, Thai mobile phone users.

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Authors: Teboho J. Mosikari, Johannes T. Tsoku, Diteboho L. Xaba

Abstract:

The increase of capital mobility across emerging economies has become an interesting topic for many economic policy makers. The current study tests the validity of Feldstein–Horioka puzzle for 5 BRICS countries. The sample period of the study runs from 2001 to 2014. The study uses the following parameter estimates well known as the Fully Modified OLS (FMOLS), and Dynamic OLS (DOLS). The results of the study show that investment and savings are cointegrated in the long run. The parameters estimated using FMOLS and DOLS are 0.85 and 0.74, respectively. These results imply that policy makers within BRICS countries have to consider flexible monetary and fiscal policy instruments to influence the mobility of capital with the bloc.

Keywords: Feldstein and Horioka puzzle, saving and investment, panel models, BRICS countries.

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Authors: Hanadi Mubarak AL-Mubaraki, Michael Busler

Abstract:

Innovation is the process of making changes, differences, and novelties in the products and services, adding values and business practices to create economic and social benefit. The purpose of this paper is to identify the strengths and weaknesses of innovation programs in developed and developing countries. We used a mixed-methods approach, quantitative as survey and qualitative as a multi-case study to examine innovation best practices in developed and developing countries. In addition, four case studies of innovation organisations based on the best practices and successful implementation in the developed and developing countries are selected for examination. The research findings provide guidance, suggestions, and recommendations for future implementation in developed and developing countries for practitioners such as policy makers, governments, funded organizations, and strategic institutions. In conclusion, innovation programs are vital tools for economic growth, knowledge, and technology transfer based on the several indicators such as creativity, entrepreneurship, role of government, role of university, strategic focus, new products, survival rate, job creation, start-up companies, and number of patents. The authors aim to conduct future research which will include a comparative study of innovation case studies between developed and developing countries for policy implications worldwide. The originality of this study makes a contribution to the current literature about the innovation best practice in developed and developing countries.

Keywords: Economic development, entrepreneurship, developed countries, innovation program.

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Authors: E. Dahlen

Abstract:

Inflation can be calculated from either the prices of consumer products or from salaries. This paper presents a logical exercise that shows it is easier to calculate inflation from salaries than from consumer products. While the prices of consumer products may change due to technological advancement, such as automation, which must be corrected for, salaries do not. If technological advancements are not accounted for within calculations based on consumer product prices, inflation can be confused with real wage changes, since both inflation and real wage changes affect the prices of consumer products. The method employed in this paper is a logical exercise. Logical arguments are presented that suggest the existence of many different feasible ways by which inflation can be determined. Then a short mathematical exercise will be presented which shows that one of these methods –using salaries – contains the fewest number of unknown parameters, and hence, is the preferred method, since the risk of mistakes is lower. From the results, it can be concluded that salaries, rather than consumer products, should be used to calculate inflation.

Keywords: Inflation, logic, math, real wages.

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Authors: R. Lekaviciene, D. Antiniene

Abstract:

Attempts to split the construct of emotional intelligence (EI) into separate components – ability to understand own and others’ emotions and ability to control own and others’ emotions may be meaningful more theoretically than practically. In real life, a personality encounters various emotional situations that require exhibition of complex EI to solve them. Emotional situation solution tests enable measurement of such undivided EI. The object of the present study is to determine sociodemographic and other factors that are important for emotional situation solutions. The study involved 1,430 participants from various regions of Lithuania. The age of participants varied from 17 years to 27 years. Emotional social and interpersonal situation scale EI-DARL-V2 was used. Each situation had two mandatory answering formats: The first format contained assignments associated with hypothetical theoretical knowledge of how the situation should be solved, while the second format included the question of how the participant would personally resolve the given situation in reality. A questionnaire that contained various sociodemographic data of subjects was also presented. Factors, statistically significant for emotional situation solution, have been determined: gender, family structure, the subject’s relation with his or her mother, mother’s occupation, subjectively assessed financial situation of the family, level of education of the subjects and his or her parents, academic achievement, etc. The best solvers of emotional situations are women with high academic achievements. According to their chosen study profile/acquired profession, they are related to the fields in social sciences and humanities. The worst solvers of emotional situations are men raised in foster homes. They are/were bad students and mostly choose blue-collar professions.

Keywords: Emotional intelligence, emotional situations, solution of situation, young people.

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