Search results for: Private Sector Companies

Authors: Nazira Kakulia

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The analysis of transformation of institutional changes outlines two important characteristics. These are: the speed of the changes and their sequence. Successful transformation must be carried out in three different stages; On the first stage, macroeconomic stabilization must be achieved with the help of fiscal and monetary tools. Two-tier banking system should be established and the active functions of central bank should be replaced by the passive ones (reserve requirements and refinancing rate), together with the involvement growth of private sector. Fiscal policy by itself here means the creation of tax system which must replace previously existing direct state revenues; the share of subsidies in the state expenses must be reduced also. The second stage begins after reaching the macroeconomic stabilization at a time of change of formal institutes which must stimulate the private business. Corporate legislation creates a competitive environment at the market and the privatization of state companies takes place. Bankruptcy and contract law is created. he third stage is the most extended one, which means the formation of all state structures that is necessary for the further proper functioning of a market economy. These three stages about the cycle period of political and social transformation and the hierarchy of changes can also be grouped by the different methodology: on the first and the most short-term stage the transfer of power takes place. On the second stage institutions corresponding to new goal are created. The last phase of transformation is extended in time and it includes the infrastructural, socio-cultural and socio-structural changes. The main goal of this research is to explore and identify the features of such kind of models.

Keywords: Competitive, environment, fiscal policy, macro-economic stabilization.

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Authors: François Chiocchio, Mahshid Gharibpour

Abstract:

Regardless of the extent to which succession management is implemented in the private sector, it is still overlooked in the public sector. Traditional succession management is evolving providing a better alignment between business strategies and HR strategies. Succession management brings sustainable effectiveness for succession programs through career path development, knowledge and skill transfer, job retention, as well as high-potential candidates’ empowerment for upcoming vacancies. By way of a systematic literature review, we bring into focus strategic succession management in public organizations and discuss best ways of implementation. 

Keywords: Succession management, strategic succession management, public organization, succession management model.

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Authors: D. I. De Souza, D. Kipper, G. P. Azevedo

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The main objective of this work is to compare the quality of service of the bus companies operating in the city of Rio Branco, located in the state of Acre with the quality of service of the bus companies operating in the city of Campos, situated in the state of Rio de Janeiro, both cities in Brazil. This comparison, based on the opinion of the bus users, will determine their degree of satisfaction with the service available in both cities. The outcome of this evaluation shows the users unhappy with the quality of the service provided by the bus companies operating in both cities and the need to identify alternative solutions that may minimize the consequences caused by the main problems detected in this work. With these alternatives available, the bus companies will be able to better understand the needs of their customers in terms of manpower, service cost, time schedule, etc.

Keywords: PubicTransportation, Quality of Service, Riders' Opinion, Bus Companies

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Authors: Morteza Raei Dehaghi, Mojtaba Molaahmadi, Seyed Mohammad Mirhashemi

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This study aimed to explore the relationship between energy consumption and value-added in Iran’s industry sector during the time period 1973-2011. Annual data related to energy consumption and value added in the industry sector were used. The results of the study revealed a positive relationship between energy consumption and value-added of the industry sector. Similarly, the results showed that there is one-way causality between energy consumption and value-added in the industry sector.

Keywords: Energy consumption, economic growth, industry sector.

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Authors: Subarna Ferdous, Mitsuru Ikeda

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For the shrimp companies to remain relevant to its local and international consumers, they must offer new shrimp product and services. It must work actively not just to create value for the consumer, but to involve the consumer in co-creating value for shrimp product innovation in the market. In this theoretical work, we conceptualize the business concept of value co-creation in the context of shrimp products, and propose a framework of value co-creation for shrimp product innovation in shrimp industries. With guidance on value co-creation in in shrimp industry, and shrimp value chain actors mapped to the co-creation cycle, companies can use the framework to offer new shrimp product to consumer communities. Although customer co-creation is known approach in the world, it is not commonly used by the companies in Bangladesh. This paper makes an original contribution by conceptualizing co-creation and set the examples of best co-creation practices in food sector. The results of the study provide management with guidelines for successful co-creation projects with an innovation- and market-oriented approach. The framework also provides a basis for further research in this area.

Keywords: Bangladesh, shrimp industry, shrimp product, value co-creation.

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Authors: D. I. De Souza, G. P. Azevedo, P. Duarte

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In this paper the main objective is to analyze the quality of service of the bus companies operating in the city of Campos, located in the state of Rio de Janeiro, Brazil. This analysis, based on the opinion of the bus customers, will help to determine their degree of satisfaction with the service provided by the bus companies. The result of this assessment shows that the bus customers are displeased with the quality of service supplied by the bus companies. Therefore, it is necessary to identify alternative solutions to minimize the consequences of the main problems related to customers- dissatisfaction identified in our evaluation and to help the bus companies operating in Campos better fulfill their riders- needs.

Keywords: PubicTransportation, Quality of Service, Riders'Opinion, Bus Companies

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Authors: Areej Azhar, Peter Duncan, David Edgar

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Due to a high unemployment rate among local people and a high reliance on expatriate workers, the governments in the Gulf Co-operation Council (GCC) countries have been implementing programmes of localisation (replacing foreign workers with GCC nationals). These programmes have been successful in the public sector but much less so in the private sector. However, there are now insufficient jobs for locals in the public sector and the onus to provide employment has fallen on the private sector. This paper is concerned with a study, which is a work in progress (certain elements are complete but not the whole study), investigating the effective implementation of localisation policies in four- and five-star hotels in the Kingdom of Saudi Arabia (KSA) and the United Arab Emirates (UAE). The purpose of the paper is to identify the research gap, and to present the need for the research. Further, it will explain how this research was conducted. Studies of localisation in the GCC countries are under-represented in scholarly literature. Currently, the hotel sectors in KSA and UAE play an important part in the countries’ economies. However, the total proportion of Saudis working in the hotel sector in KSA is slightly under 8%, and in the UAE, the hotel sector remains highly reliant on expatriates. There is therefore a need for research on strategies to enhance the implementation of the localisation policies in general and in the hotel sector in particular. Further, despite the importance of the hotel sector to their economies, there remains a dearth of research into the implementation of localisation policies in this sector. Indeed, as far as the researchers are aware, there is no study examining localisation in the hotel sector in KSA, and few in the UAE. This represents a considerable research gap. Regarding how the research was carried out, a multiple case study strategy was used. The four- and five-star hotel sector in KSA is one of the cases, while the four- and five-star hotel sector in the UAE is the other case. Four- and five-star hotels in KSA and the UAE were chosen as these countries have the longest established localisation policies of all the GCC states and there are more hotels of these classifications in these countries than in any of the other Gulf countries. A literature review was carried out to underpin the research. The empirical data were gathered in three phases. In order to gain a pre-understanding of the issues pertaining to the research context, Phase I involved eight unstructured interviews with officials from the Saudi Commission for Tourism and Antiquities (three interviewees); the Saudi Human Resources Development Fund (one); the Abu Dhabi Tourism and Culture Authority (three); and the Abu Dhabi Development Fund (one).

In Phase II, a questionnaire was administered to 24 managers and 24 employees in four- and five-star hotels in each country to obtain their beliefs, attitudes, opinions, preferences and practices concerning localisation. Unstructured interviews were carried out in Phase III with six managers in each country in order to allow them to express opinions that may not have been explored in sufficient depth in the questionnaire. The interviews in Phases I and III were analysed using thematic analysis and SPSS will be used to analyse the questionnaire data. It is recommended that future research be undertaken on a larger scale, with a larger sample taken from all over KSA and the UAE rather than from only four cities (i.e., Riyadh and Jeddah in KSA and Abu Dhabi and Sharjah in the UAE), as was the case in this research.

Keywords: KSA, UAE, localisation, hotels, Human Resource Management.

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Authors: Chimaobi V. Okolo, Kenneth A. Okpala, Johnbull S. Ogboi

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A teeming set of doctors that graduated from various universities within and outside Nigeria with the hope of practicing in the country, has their hope shattered because of poor financing, lack of medical equipments and a very weak healthcare systems. Such hydra headed challenges, allows room for quackery which increasingly contributes to the cause of mortality in Nigeria. With a view of reversing the challenges of healthcare delivery and financing in Nigeria, African Health Market for Equity (AHME), a project funded by the Bill and Melinda Gates foundation [With contribution from Department For International Development (DFID)] and currently implemented in three African Countries (Nigeria, Kenya and Ghana) over a Five (5) year period supports the healthcare sector via Medical credit fund (MCF). The study examines the impact of credit policy and medical credit funding on Nigerian health market. Ordinary least square analysis, correlation and granger causality tests were employed to measure the extent to which the Nigerian healthcare market has been influenced. Medical credit fund significantly and positively influenced average monthly turnover of private healthcare providers and Commercial bank’s lending rate had a weak relationship with access to credit/approved loans (13.46%). The programme has so far made 13.91% progress, which is very poor, considering the minimum targeted private health care providers (437.6) and expected number of loan approvals (180.4) for the two years. Medical credit policy in Nigeria should be revised to include private healthcare providers in rural area for more positive impact and increased returns. Good brand advert and sensitization of the programme to stakeholders and health pressure group, and an extension of the programme beyond five years is necessary to better address the issues raised in the study.

Keywords: Credit, health market, medical credit facility, policy.

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Authors: Monika Florczak-Wątor

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The main purpose of this paper is to determine the applicability of the constitutional social rights in the so-called horizontal relations, i.e. the relations between private entities. Nowadays the constitutional rights are more and more often violated by private entities and not only by the state. The private entities interfere with the privacy of individuals, limit their freedom of expression or disturb their peaceful gatherings. International corporations subordinate individuals in a way which may limit their constitutional rights. These new realities determine the new role of the constitution in protecting human rights. The paper will aim at answering two important questions. Firstly, are the private entities obliged to respect the constitutional social rights of other private entities and can they be liable for violation of these rights? Secondly, how the constitutional social rights can receive horizontal effect? Answers to these questions will have a significant meaning for the popularisation of the practice of applying the Constitution among the citizens as well as for the courts which settle disputes between them.

Keywords: Constitution, horizontal application, private relations, social rights.

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Authors: George M. Nyori, Peter K’Obonyo

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Over the past few decades, manufacturing has evolved from a more labor-intensive set of mechanical processes to a sophisticated set of information based technology processes. With the existence of various advanced manufacturing technologies (AMTs), more and more functions or jobs are performed by these machines instead of human labour. This study was undertaken in order to research the extent of AMTs adoption in manufacturing companies in Kenya. In order to investigate a survey was conducted via questionnaires that were sent to 183 selected AMT manufacturing companies in Kenya. 92 companies responded positively. All the surveyed companies were found to have a measure of investment in at least two of the 14 types of AMTs investigated. In general the company surveyed showed that the level of AMT adoption in Kenya is very low with investments levels at a mean of 2.057 and integration levels at a mean of 1.639 in a scale of 1-5.

Keywords: AMT adoption, AMT investments, AMT integration, companies in Kenya.

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Authors: Hala S. Mekawy

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Affordable housing delivery for low and lower middle income families is a prominent problem in many developing countries; governments alone are unable to address this challenge due to diverse financial and regulatory constraints, and the private sector's contribution is rare and assists only middle-income households even when institutional and legal reforms are conducted to persuade it to go down market. Also, the market-enabling policy measures advocated by the World Bank since the early nineties have been strongly criticized and proven to be inappropriate to developing country contexts, where it is highly unlikely that the formal private sector can reach low income population. In addition to governments and private developers, affordable housing delivery systems involve an intricate network of relationships between a diverse range of actors. Collaboration between them was proven to be vital, and hence, an approach towards partnership schemes for affordable housing delivery has emerged. The basic premise of this paper is that addressing housing affordability challenges in Egypt demands direct public support, as markets and market actors alone would never succeed in delivering decent affordable housing to low and lower middle income groups. It argues that this support would ideally be through local level partnership schemes, with a leading decentralized local government role, and partners being identified according to specific local conditions. It attempts to identify major attributes that would ensure the fulfillment of the goals of such schemes in the Egyptian context. This is based upon evidence from diversified worldwide experiences, in addition to the main outcomes of a questionnaire that was conducted to specialists and chief actors in the field.

Keywords: Affordable housing, partnership schemes.

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Authors: P.Cordero, R.Poler, R.Sanchis

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The environmental impacts caused by the current production and consumption models, together with the impact that the current economic crisis, bring necessary changes in the European industry toward new business models based on sustainability issues that could allow them to innovate and improve their competitiveness. This paper analyzes the key environmental issues and the current and future market trends in one of the most important industrial sectors in Spain, the furniture sector. It also proposes new decision support tools -diagnostic kit, roadmap and guidelines- to guide companies to implement sustainability criteria into their organizations, including eco-design strategies and other economical and social strategies in accordance with the sustainability definition, and other available tools such as eco-labels, environmental management systems, etc., and to use and combine them to obtain the results the company expects to help improve its competitiveness.

Keywords: Furniture sector, eco-design, sustainability, economical crisis, market trends, roadmap

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Authors: Mostafa Ahmed Shokshok

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Libyan industrial companies face many challenges in today's competitive market. Quality management culture approaches is one of these challenges which may furnish the road to the Libyan industrial companies to effectively empower their employees and improve their ability to respond to the international competition. The primary objective of this paper is to design a practical approach to guide Libyan industrial companies toward successful quality culture implementation.

Keywords: Libyan manufacturing industries, TQM, Quality culture, Quality framework.

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Authors: Paitoon Kraipornsak

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Government spending is categorized into consumption spending and capital spending. Three categories of private consumption are used: food consumption, nonfood consumption, and services consumption. The estimated model indicates substitution effects of government consumption spending on budget shares of private nonfood consumption and of government capital spending on budget share of private food consumption. However, the results do not indicate whether the negative effects of changes in the budget shares of the nonfood and the food consumption equates to reduce total private consumption. The concept of aggregate demand comprising consumption, investment, government spending (consumption spending and capital spending), export, and import are used to estimate their relationship by using the Vector Error Correction Mechanism. The study found no effect of government capital spending on either the private consumption or the growth of GDP while the government consumption spending has negative effect on the growth of GDP.

Keywords: Complementary effect, government capital spending, government consumption spending, private consumption on food, nonfood, and services, substitution effect, vector error correction mechanism.

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Authors: A.Marisa, Nor'Aini Yusof

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Managers as the key employees have a very important role in maintaining the workforce performance which is critical to the construction companies- success in the future. If motivated employees start with motivated managers probably it would seem plausible if the de-motivated ones start with de-motivated managers. This study aims to analyze the importance of motivated managers to their successes and construction companies- successes. In this study, a quantitative method was used and the study area was in Medan, North Sumatera. Questionnaire survey was distributed directly to construction companies in Medan which are listed in the Construction Services Development Board. A total of 60 managers responded and the completed questionnaires were analyzed using the descriptive analysis. The results indicated that the respondents acknowledge the importance of motivation among themselves to the projects and construction companies- success, implying that it is vital to maintain the motivation and good performance of the workforce.

Keywords: construction companies, managers, motivation

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Authors: Beata Ślusarczyk, Sebastian Kot

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In subjective terms, Polish SME sector occupies a prominent position in the national economic development, in which planning of the management strategies should be primarily based on identifying and meeting the innovation needs. As a research sample, there is chosen a printing sector of industry. SMEs share in printing sector in Poland is estimated at the level of 81% of all enterprises. In recent years, the printing industry achieved one of the highest levels of EU support in Poland. There is a relatively high increase in the development of technological innovations in equipment and the associated significant increase in production capacity. It can be also noticed that on average, every third enterprise belonging to the printing industry has implemented innovations, but not all of them effected in better economic results. Therefore, the aim of this article is to evaluate the impact of the implementation of innovation projects financed from the EU funds for performance of SMEs in the printing industry. As the results of research of EU funds co-financing effects on the development of innovation in the printing industry, it was specified that examined SMEs prefer to implement product innovation to receive a grant to the project at a level between 40% to 60%, the remaining part of the investment is usually covered with equity. The most common type of innovation had indicated a single implementation, related only to the change in process, technology, or organization. The relationship between variables of the EU funds and management of innovative activities was verified. It has been observed that the identified variables arising from the support in a form of the EU funds had a positive effect on the level of earned revenue, the increase in margin and in increase in employment as well. It was confirmed that the implemented innovations supported by the European funds have a positive impact on the performance of the printing companies. Although there is a risk that due to the decreasing demand for printing services such a high level of funding the companies in this sector will significantly increase competition in the long term, that may also contribute to the economic problems of the enterprises belonging to the analyzed branch.

Keywords: Innovations, SMEs, performance, results.

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Authors: Chidera G. Eze, Kennedy K. Abrokwa, Chimaobi V. Okolo

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This paper empirically examines the dynamic relationship between financial deepening and economic growth in a monetary union. We find positive but weak evidence of impacts of financial deepening on growth for Gambia, Gabon and Sierra Leone. There is no evidence of any positive significant impact for Ghana and Nigeria. We argue that, the weak evidence between financial deepening and economic growth can be a consequence of the inability of assessing credit (long-term loans), credit worthiness, lack of information and low level of bank deposits by the private sector despite the improvement in the financial sector.

Keywords: Financial deepening, economic growth, dynamics, innovation accounting.

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Authors: Sahar Sohrabi

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The emergence of Cloud data centers has revolutionized the IT industry. Private Clouds in specific provide Cloud services for certain group of customers/businesses. In a real-time private Cloud each task that is given to the system has a deadline that desirably should not be violated. Scheduling tasks in a real-time private CLoud determine the way available resources in the system are shared among incoming tasks. The aim of the scheduling policy is to optimize the system outcome which for a real-time private Cloud can include: energy consumption, deadline violation, execution time and the number of host switches. Different scheduling policies can be used for scheduling. Each lead to a sub-optimal outcome in a certain settings of the system. A Bayesian Scheduling strategy is proposed for scheduling to further improve the system outcome. The Bayesian strategy showed to outperform all selected policies. It also has the flexibility in dealing with complex pattern of incoming task and has the ability to adapt.

Keywords: Bayesian, cloud computing, real-time private cloud, scheduling.

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Authors: A.Marisa, Nor'Aini Yusof

Abstract:

Managers as the key employees have a very important role in maintaining the workforce performance which is critical to the construction companies- success in the future. If motivated employees start with motivated managers probably it would seem plausible if the de-motivated ones start with de-motivated managers. This study aims to analyze the importance of motivated managers to their successes and construction companies- successes. In this study, a quantitative method was used and the study area was in Medan, North Sumatera. Questionnaire survey was distributed directly to construction companies in Medan which are listed in the Construction Services Development Board. A total of 60 managers responded and the completed questionnaires were analyzed using the descriptive analysis. The results indicated that the respondents acknowledge the importance of motivation among themselves to the projects and construction companies- success, implying that it is vital o maintain the motivation and good performance of the workforce.

Keywords: construction companies, managers, motivation

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Authors: Raif Parlakkaya, Huseyin Cetin, Halil Akmese, Mesut Murat Adabali

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As the economies of other countries in the Mediterranean Basin, the tourism sector in our country has a high denominator in economics. Tourism businesses, which are building blocks of tourism, sector faces with a variety of problems during their activities. These problems faced make business efficiency and competition conditions of the businesses difficult. Most of the problems faced by the tourism businesses and the information of consumers about consumers’ rights were used in this study, which is conducted to determine the problems of tourism businesses in the Central Anatolia Region. It is aimed to contribute the awareness of staff and executives working at tourism sector and to attract attention of businesses active concurrently with tourism sector and legislators.

Keywords: Financial Problems, The problems of Tourism businesses, Tourism Businesses, Tourism Sector in Turkey.

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Authors: Irena Palić

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The main objective of the research in this paper is to empirically assess the causal relationship of private savings and economic growth in the Republic of Croatia. Households’ savings are approximated by household deposits in banks, while domestic income is approximated by industrial production volume indices. Vector Autoregression model and Granger causality tests are used to in order to analyse the relationship among private savings and economic growth. Since ADF unit root tests have shown that both mentioned series are non stationary at levels, series are first differenced in order to become stationary. Therefore, VAR model is estimated with percentage change in private savings and percentage change in domestic income, which can be interpreted as economic growth in case of positive percentage change in domestic income. The Granger causality test has shown that there is no causal relationship among private savings and economic growth in Croatia. The impulse response functions have shown that the impact of shock in domestic income on private savings change is stronger than the impact of private saving on growth. Variance decompositions show that both economic growth and private saving change explain the largest part of its own forecast variance. The research has shown that the link between private savings economic and growth in Croatia is weak, what is in line with relevant empirical research in small open economies.

Keywords: Economic growth, Granger causality, innovation analysis, private savings, Vector Autoregression model.

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Authors: Mazila Md-Yusuf, Fauziah Mohamad Yunus, Nur Zahraatul Lail Md Supaat

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Capital structure is one of the most important financial decisions in corporate financing strategy. It involves the choice of debt and equity level in financing a company-s operations. This study aims to investigate whether the capital structure choice of Malaysian electrical and electronic manufacturing companies that are listed in the Bursa Malaysia can be explained by factors that have been found by most studies as dominant determinants of capital structure (company size, profitability, asset tangibility, liquidity and growth). Using debt ratio as the proxy for capital structure and applying pooled ordinary least square multiple regression estimation, the results showed that on average, Malaysian electrical and electronic manufacturing companies used less debt in funding their business operations. The findings also showed that size and asset tangibility has a significant positive relationship with debt level, while liquidity has a negative significant relationship with leverage.

Keywords: Capital structure, capital structure theories, leverage, manufacturing companies.

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Authors: Azwadi Ali

Abstract:

The survival of publicly listed companies largely depends on their stocks being liquidly traded. This goal can be achieved when new investors are attracted to invest on companies- stocks. Among different groups of investors, individual investors are generally less able to objectively evaluate companies- risks and returns, and tend to be emotionally biased in their investing decisions. Therefore their decisions may be formed as a result of perceived risks and returns, and influenced by companies- images. This study finds that perceived risk, perceived returns and trust directly affect individual investors- trading decisions while attitude towards brand partially mediates the relationships. This finding suggests that, in courting individual investors, companies still need to perform financially while building a good image can result in their stocks being accepted quicker than the stocks of good performing companies with hidden images.

Keywords: Behavioral Finance, Investment, Attitude towardsBrand, Partial Least Squares

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Authors: Raziah Bi Mohamed Sadique, Jamal Roudaki, Murray B. Clark, Norhayati Alias

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Economic crime (i.e. corporate fraud) has a significant impact on business. This study analyzes the fraud cases reported by the Malaysian Securities Commission. Frauds involving market manipulation and/or illegal share trading are the most common types of fraud reported over the 6 years analyzed. The highest number of frauds reported involved investment and fund holding companies. Alarmingly the results indicate quite a high number of frauds cases are committed by management. The higher number of Chinese perpetrators may be due to fact that they are the dominant group in Malaysian business. The result also shows that more than half of companies involved with fraud are privately held companies in the investment/fund/finance sector. The results of this study highlight general characteristic of perpetrators (person and company) that commit fraud which could help the regulators in their monitoring and enforcement activities. To investors, this would help in analyzing their business investment or portfolio risk.

Keywords: Corporate fraud, economic crime, fraudcharacteristic, perpetrators

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Authors: António Marques, Graça Guedes

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The Portuguese footwear industry had in the last five years a remarkable performance in the exportation values, the trade balance and others economic indicators. After a long period of difficulties and with a strong reduction of companies and employees since 1994 until 2009, the Portuguese footwear industry changed the strategy and is now a success case between the international players of footwear. Only the Italian industry sells footwear with a higher value than the Portuguese and the distance between them is decreasing year by year. This paper analyses how the Portuguese footwear companies innovate and make innovation, according the classification proposed by the Oslo Manual. Also, analyses the strategy follow in the innovation process and shows the linkage between the type of innovation and the strategy of innovation. The research methodology was qualitative and the strategy for data collection was the case study. The qualitative data will be analyzed with the MAXQDA software. The economic results of the footwear companies studied shows differences between all of them and these differences are related with the innovation strategy adopted. The companies focused in product and marketing innovation, oriented to their target market, have higher ratios “turnover per worker” than the companies focused in process innovation. However, all the footwear companies in this “low-tech” industry create value and contribute to a positive foreign trade of 1.310 million euros in 2013. The growth strategies implemented has the participation of the sectorial organizations in several innovative projects. And it’s obvious that cooperation between all of them is a critical element to the performance achieved by the companies and the innovation observed. The Portuguese footwear sector has in the last years an excellent performance (economic results, exportation values, trade balance, brands and international image) and his performance is strongly related with the strategy in innovation followed, the type of innovation and the networks in the cluster. A simplified model, called “Ace of Diamonds”, is proposed by the authors and explains the way how this performance was reached by the seven companies that participate in the study (two of them are the leaders in the setor), and if this model can be used in others traditional and “low-tech” industries.

Keywords: Footwear industry, innovation strategy, low-tech industry, Oslo Manual.

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Authors: Ashkan Mirzay Fashami

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This study examines the effects of auditor switch, auditee’s industry, and auditee’s location on audit fees in Australia. It uses fee data of Australian Securities Exchange 500 companies, considering all industry classifications throughout the country from 2006 until 2016. Main findings show that auditor switch does not affect audit fees. However, auditee’s industry affects audit fees. This effect occurs in information technology, financials, energy, and materials sectors among the top 500 companies. Financials, energy, and materials sectors face a fee rise, whereas information technology has a fee cut. The extent of fee changes is different among various industries, wherein the financial sector has the highest increase. Further, auditee’s location affects audit fees. Top 500 companies in Hobart, Perth, and Brisbane face a fee reduction, wherein the highest cut is in Hobart. Further analysis suggests that the Australian audit market is being increasingly concentrated in the hands of the Big Four audit firms.

Keywords: Audit fee, auditor switch, Australia, industry, location.

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Authors: A. Qayed Al-Emadi, C. Schwabenland, B. Czarnecka

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In 2009, the new HRM policy was implemented in Qatar for public sector organisations. The purpose of this research is to examine how Qatar’s 2009 HRM policy was significant in influencing employee retention in public organisations. The conducted study utilised quantitative methodology to analyse the data on employees’ perceptions of such HRM practices as Performance Management, Rewards and Promotion, Training and Development associated with the HRM policy in public organisations in comparison to semi-private organisations. Employees of seven public and semi-private organisations filled in the questionnaire based on the 5-point Likert scale to present quantitative results. The data was analysed with the correlation and multiple regression statistical analyses. It was found that Performance Management had the relationship with Employee Retention, and Rewards and Promotion influenced Job Satisfaction in public organisations. Relationship between Job Satisfaction and Employee Retention was also observed. However, no significant differences were observed in the role of HRM practices in public and semi-private organisations.

Keywords: Performance management, rewards, promotion, training and development, job satisfaction, employee retention, SHRM, configurationally perspective.

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Authors: Z. Baimagambetova, Zh. Sairambaeva

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This article discusses the prospects of participation of the Republic of Kazakhstan in Hague Conference on Private International Law on the unification of collision law in the international trade. The article analyzes some conventions on international trade. The appropriate conclusions based on the opinions of scientists and experts in this field have been made. First, all issues presented in the form of gaps or spaces in conventions should be the subject to direct negotiations in the course of the activities of Hague Conference, and have a comprehensive feature, be transparent and taken under simplified procedure. Secondly, one should not underestimate the value of conventions that do not become active due to various reasons and having a positive impact on the development and improvement of national legislation and practice in the field of private international law. Thirdly, Kazakhstan has to reconsider its attitude to Hague Conference, having become its full member and aiming at providing constructive and fruitful cooperation with both the organization itself and its member states.

Keywords: Hague Conference on Private International Law, Hague Conventions, unification, collision norms, international trade, international private law, integration.

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Authors: Ivana Tadić, Željana Aljinović Barać, Nikolina Plazonić

Abstract:

Living today in turbulent business environment forces companies to distinguish from each other, securing sustainable competitive growth and competitive advantage. The best possible solution is to invest (effort and financial resources) within companies’ different practices of human resource management (HRM), more specifically in employees’ knowledge, skills and abilities. Applying this approach companies will create enviable level of human capital securing its economic growth. Employees become human capital for their employers at the moment when they contribute with their own knowledge and abilities in creating material and non-material value of the company. The main aim of this research is to explore the relations between human capital investments and business excellence of Croatian companies. Furthermore, the differences in the level of human capital investments with regard to several companies’ characteristics (e.g. size of the company, ownership and type of the industry) are investigated.

Keywords:

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Authors: Aries Susanty

Abstract:

The inability to implement the principles of good corporate governance (GCG) as demonstrated in the surveys is due to a number of constraints which can be classified into three; namely internal constraints, external constraints, and constraints coming from the structure of ownership. The issues in the internal constraints mentioned are related to the function of several elements of the company. As a business organization, corporation is unable to achieve its goal to successfully implement GCG principles since it is not support by its internal elements- functions. Two of several numbers of internal elements of a company are ethical work climate and leadership style of the top management. To prove the correlation between internal function of organization (in this case ethical work climate and transformational leadership) and the successful implementation of GCG principles, this study proposes two hypotheses to be empirically tested on thirty surveyed organizations; eleven of which are state-owned companies and nineteen are private companies. These thirty corporations are listed in the Jakarta Stock Exchange. All state-owned companies in the samples are those which have been privatized. The research showed that internal function of organization give support to the successful implementation of GCG principle. In this research we can prove that : (i) ethical work climate has positive significance of correlation with the successful implementation of social awareness principle (one of principles on GCG) and, (ii) only at the state-owned companies, transformational leadership have positive significance effect to forming the ethical work climate.

Keywords: Good Corporate Governance Principles, Ethical Work Climate, Transformational Leadership

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