Search results for: Private Sector Companies

Authors: Waldemiro Francisco Sorte Junior

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The Japanese integrative approach to social systems can be observed in supply chain management as well as in the relationship between public and private sectors. Both the Lean Production System and the Developmental State Model are characterized by efforts towards the achievement of mutual goals, resulting in initiatives for capacity building which emphasize the system level. In Brazil, although organizations undertake efforts to build capabilities at the individual and organizational levels, the system level is being neglected. Fieldwork data confirmed the findings of other studies in terms of the lack of integration in supply chain management in the Brazilian automobile industry. Moreover, due to the absence of an active role of the Brazilian state in its relationship with the private sector, automakers are not fully exploiting the opportunities in the domestic and regional markets. For promoting a higher level of economic growth as well as to increase the degree of spill-over of technologies and techniques, a more integrative approach is needed.

Keywords: Integration, Lean Production System, DevelopmentalState Model, Brazilian automobile industry.

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Authors: Mirjana Jeleč Raguž, Barbara Pisker

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Development of knowledge based society carries multiple challenges to the higher education system. Some of the challenges laid before the higher education sector of countries which aspire to become knowledge based societies are: the entrepreneurial leadership of the higher education institutions, finding new sources of financing in order to minimize dependence on public resources, creating connections with the labor market, commercial utilization of R&D results, promotion of innovations as well as the overall promotion of science excellence relevant to the economic sector. Within a framework of this paper and its main subject of research, the challenge which is being put before the higher education institutions is an effort of establishing regional mission of higher education through the open collaboration with regional key factors, both private and public. Development of the mentioned collaboration and its contribution to the overall regional development in Croatia is the main subject of empirical research in this paper.

Keywords: Croatia, Higher Education Institutions, Regional Role, Science-Industry Interaction

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Authors: Shu-Lin Lin, Ching-Chien Yang

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This study examines the influence of information transparency and corporate governance on purchase directors and officers liability (D&O) insurance decisions. The results show that companies with greater information transparency have significant demand for D&O insurance. Greater transparency in voluntary disclosures is significantly and positively associated with demand for insurance, indicating that increasing the degree of information disclosure reduces information asymmetry for insurers, which stimulates their willingness to provide greater protection. Analysis of insured and uninsured subsamples indicates that uninsured companies have superior corporate governance compared to insured companies. Although insured companies tend to have weaker corporate governance structures, they appoint Big 4 firms or industry experts to compensate for the weakness of their corporate governance. Empirical results indicate that purchasing D&O insurance can strengthen external corporate governance and increase companies’ willingness to voluntarily provide more transparent information.

Keywords: Directors and officers liability (D&O) insurance, information transparency, corporate governance, Big 4.

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Authors: I. Bolis, S. N. Morioka, L. I. Sznelwar

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The growing importance of sustainability in corporate policies represents a great opportunity for workers to gain more consideration, with great benefits to their well being. Sustainable work is believed to be one which improves the organization-s performance and fosters professional development as well as workers- health. In a multiple case study based on document research, information was sought about work activities and their sustainability or corporate social responsibility (CSR) policies, as disseminated by corporations. All the companies devoted attention to work activities and delivered a good amount of information about them. Nevertheless, the information presented was generic; all the actions developed were top-down and there was no information about the impact of changes aimed at sustainability on the workers- activities. It was found that the companies seemed to be at an early stage. In the future, they need to show more commitment through concrete goals: they must be aware that workers contribute directly to the corporations- sustainability. This would allow room for Ergonomics and Work Psychodynamics to be incorporated and to be useful for both companies and society, so as to promote and ensure work sustainability.

Keywords: Sustainability, ergonomics, work psychodynamics, multinational companies.

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Authors: Lucian Munteanu

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The move towards internationalization of accounting encountered a great boost, when in 2002 EU delegated the IASB to provide the accounting standards to be applied inside its frontiers. Among the incentives of the standardization of accounting on the international level, is the reduction of the cost of capital. Romania made the move towards IFRS before EU, when the country was not yet a member of it. Even if this made Romania a special case, it was scarcely approached. The leak of real data is usually the reason for avoiding. The novelty of this paper is that it offers an insight from the reality of Romanian companies and their view regarding the IFRS. The paper is based on a survey that the authors made among the companies listed on the first two tiers of the Bucharest Stock Exchange (BSE), which are basically, the most important companies in the country.

Keywords: Cost of capital, IFRS, information asymmetry, transparency.

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Authors: Afonso, S. C., Fernandes, P. O., Monte, A. P.

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Modern times call organizations to have an active role in the social arena, through Corporate Social Responsibility (CSR). The objective of this research was to test the hypothesis that there is a positive relation between social performance and economic performance, and if there is a positive correlation between social performance and financial-economic performance. To test these theories a measure of social performance, based on the Green Book of Commission of the European Community, was used in a group of nineteen Portuguese top companies, listed on the PSI 20 index, through a period of five years, since 2005 to 2009. A clusters analysis was applied to group companies by their social performance and to compare and correlate their economic performance. Results indicate that companies that had a better social performance are not the ones who had a better economic performance, and suggest that the middle path might provide a good relation CSR-Economic performance, as a basis to a sustainable development.

Keywords: Corporate Social Responsibility, Economic Performance, Win-Win relationship

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Authors: S. Carpintero, R. Barcham

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Light rail systems have proliferated in Spain in the last decade, following a tendency that is common not only in other European countries but also in other parts of the world. This paper reviews the benefits of light rail systems, both related to environmental issues and mobility issues. It analyses the evolution of light rail projects in Spain and shows that light rail systems in this country have evolved towards an extensive use of public-private partnerships. The analysis of the Spanish projects, however, does not contribute any conclusive evidence about whether public-private partnerships have been more efficient than publicly owned enterprises in building and operating light rail systems.

Keywords: Light rail systems, public-private partnerships, BOT.

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Authors: Muhamad Nugraha

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Economic growth always correlate positively with the magnitude of the unemployment rate. This is caused by labor which one of important variable to keep growth in the real sector of the region. Meanwhile, the economic structure in districts of Jember showed an increase of economic activity began to shift towards the industrial sector and some other economic sectors, so they have an affects to considerations for policy makers to increase economic growth in Jember as an autonomous region in East Java Province. At the fact, SMEs is among the factors driving economic growth in the region. This is shown by the high amount of SMEs. However, employment in the sector grew slightly slowed. It is caused by a lack of productivity in SMEs. Through the analysis of the transformation of economic structure theory, and the theory of Triple Helix using descriptive analytical method Location Quotient and Shift - Share, found that the results of the economic structure in Jember slowly shifting from the agricultural sector to the industrial sector, because it is dominated by trade sector, hotel and restaurant sector. In addition, SMEs is the potential sector of economic growth in Jember. While to maximizing role and functions of the institution's Research and Development Center of SMEs, there are three points to be known, that are Business Landscape, Business Architecture and Value Added.

Keywords: Economic Growth, SMEs, Labor, Research and Development Center of SMEs.

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Authors: M. Norazamina, A. Azizah, Y. Najihah Marha, A. Suraya

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Malaysian Public Sector departments or agencies are responsible to provide efficient public services with zero corruption. However, corruption continues to occur due to the absence of ethical leadership and well-execution of ethical guidelines. Thus, the objective of this paper is to explore the attributes of ethical leadership and ethical guidelines. This study employs a qualitative research by analyzing data from interviews with key informers of public sector using conceptual content analysis (NVivo11). The study reveals eight attributes of ethical leadership which are role model, attachment, ethical support, knowledgeable, discipline, leaders’ spirituality encouragement, virtue values and shared values. Meanwhile, five attributes (guidelines, communication, check and balance, concern on stakeholders and compliance) of ethical guidelines are identified. These identified attributes should become the ethical identity and ethical direction of Malaysian Public Sector. This could enhance the public trust as well as the international community trust towards the public sector.

Keywords: Check and balance, ethical guidelines, ethical leadership, public sector, spirituality encouragement .

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Authors: P. Jangl, M. Mikuláštík

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The objective of the paper is to measure and compare market orientation of Swiss and Czech banks, as well as examine statistically the degree of influence it has on competitiveness of the institutions. The analysis of market orientation is based on the collecting, analysis and correct interpretation of the data. Descriptive analysis of market orientation describe current situation. Research of relation of competitiveness and market orientation in the sector of big international banks is suggested with the expectation of existence of a strong relationship. Partially, the work served as reconfirmation of suitability of classic methodologies to measurement of banks’ market orientation.

Two types of data were gathered. Firstly, by measuring subjectively perceived market orientation of a company and secondly, by quantifying its competitiveness. All data were collected from a sample of small, mid-sized and large banks. We used numerical secondary character data from the international statistical financial Bureau Van Dijk’s BANKSCOPE database.

 Statistical analysis led to the following results. Assuming classical market orientation measures to be scientifically justified, Czech banks are statistically less market-oriented than Swiss banks. Secondly, among small Swiss banks, which are not broadly internationally active, small relationship exist between market orientation measures and market share based competitiveness measures. Thirdly, among all Swiss banks, a strong relationship exists between market orientation measures and market share based competitiveness measures. Above results imply existence of a strong relation of this measure in sector of big international banks. A strong statistical relationship has been proven to exist between market orientation measures and equity/total assets ratio in Switzerland.

Keywords: Market Orientation, Competitiveness, Marketing Strategy, Measurement of Market Orientation, Relation between Market Orientation and Competitiveness, Banking Sector.

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Authors: L. S. Zavodna, J. Zavodny Pospisil

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The aim of this paper is to identify the factors for sustainability in the accommodation sector. Although sustainability is a current trend in tourism, not many facilities know how to apply the concept in practice. This paper presents a model for the implementation of sustainability in hotels, hostels, campgrounds, or other facilities. First, there are identified sections of each accommodation facility, which can contribute to sustainability. Furthermore, concrete steps are presented to transfer this model into reality.

Keywords: Accommodation sector, model, sustainable tourism, sustainability.

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Authors: Maqbool Hussain Sial, Maaida Hussain Hashmi, Sofia Anwar

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The present research was focused to investigate the role of investment in the course of economic growth with reference to Pakistan. The study analyzed the role of the public and private investment and impact of the political and macroeconomic uncertainty on economic growth of Pakistan by using the vector autoregressive approach (VAR). In long-run both public and private investment showed a positive impact on economic growth but the growth was largely driven by private investment as compared to public investment. Government consumption expenditure, economic uncertainty and political instability hampered the economic growth of Pakistan. In short-run the private investment positively influences the growth but there was negative and insignificant effect of the public investment and government consumption expenditure on the growth. There was a positive relationship found between economic uncertainty (proxy for inflation) and GDP in short run.

Keywords: Investment, Government Consumption, Growth, Co-integration, Pakistan.

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Authors: Yessengeldy Kuanyshpayev

Abstract:

Now in some countries of the world the cellular market is on the point of saturation, in others - positive dynamics of development kept on. The reasons for it are also different, but there are united by their general susceptibility to innovation changes, if they are really innovative. If to take as an example the cellular market of Kazakhstan it is defined by the low percent of smart phones at consumers, the low population density, undercapacity of the 3G channel, and absence of universal access to the LTE technology that limits dynamical growth of this branch. These moments are aggravated by failures of starting commercial projects by private companies which prevent to be implemented and widely adopted to a new product among consumers. The object of the research is possible integration of wireless and program technologies at which introduction the idea can regenerate in an innovation. The analysis of existing projects in the market and the possible union of the technologies through a prism of theoretical bases of innovative activity shows that efficiency of the company by development and introduction of innovations is possible only thanks to strict observance of all terms and conditions of the innovative process which main term is profit. Despite that fact that on a global scale the innovativeness issue of companies is very popular, there are no researches about possibility of innovative breaks in the field of wireless access to the Internet in the cellular market of Kazakhstan.

Keywords: Cellular market, commercialization, innovation, the effectiveness of company.

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Authors: Sungjun Hong, Yanghon Chung, Nyunbae Park, Sangyong Park

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South Korea, as the 7th largest greenhouse gas emitting country in 2011, announced that the national reduction target of greenhouse gas emissions was 30% based on BAU (Business As Usual) by 2020. And the reduction rate of the transport sector is 34.3% which is the highest figure among all sectors. This paper attempts to analyze the environmental effect on deploying the green cars in Korean road transport sector. In order to calculate the greenhouse gas emissions, the LEAP model is applied in this study.

Keywords: Green car, greenhouse gas, LEAP model, road transport sector.

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Authors: Suleyman Gokhan Gunay, Gulsevim Yumuk Gunay

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One of the most important secrets of succesful companies is the fact that cooperation with NGOs will create a good reputation for them so that they can be immunized to economic crisis. The performance of the most admired companies in the world based on the ratings of Forbes and Fortune show us that most of these firms also have close relationships with their NGOs. Today, if companies do something wrong this information spreads very quickly to do the society. If people do not like the activities of a company, it can find itself in public relations nightmare that can threaten its repuation. Since the cost of communication has dropped dramatically due to the vast use of internet, the increase in communication among stakeholders via internet makes companies more visible. These multiple and interdependent interactions among the network of stakeholders is called as the network relationships. NGOs play the role of catalyst among the stakeholders of a firm to enhance the awareness. Succesful firms are aware of this fact that NGOs have a central role in today-s business world. Firms are also aware of the fact that they can enhance their corporate reputation via cooperation with the NGOs. This fact will be illustrated in this paper by examining some of the actions of the most succesful companies in terms of their cooperations with the NGOs.

Keywords: Network relationships, cooperative behaviors, corporate reputation, immunization to crisis.

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Authors: H. Erbiyik, A. Bal, M. Sirakaya, Ö. Yesildal, E. Yolcu

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The emergence of many environmental issues began with the Industrial Revolution. The depletion of natural resources and emerging environmental challenges over time requires enterprises and managers to take into consideration environmental factors while managing business. If we take notice of these causes; the design and implementation of environmentally friendly green purchasing, production and waste management systems become very important at green logistics systems. Companies can adopt green supply chain with the awareness of these facts. The concept of green supply chain constitutes from green purchasing, green production, green logistics, waste management and reverse logistics. In this study, we wanted to identify the concept of green supply chain and why green supply chain should be applied. In the practice part of the study an analytic hierarchy process (AHP) study is conducted on an aluminum production company to evaluate suppliers.

Keywords: Aluminum sector, analytic hierarchy process, decision making, green logistics.

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Authors: R. Kenova, K. Anguelov, R. Nikolova

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The human factor plays a major role in boosting the competitive capacity of logistic enterprises. This is of particular importance when it comes to logistic companies. On the one hand they should be strictly compliant with legislation; on the other hand, they should be competitive in terms of pricing and of delivery timelines. Moreover, their policies should allow them to be as flexible as possible. All these circumstances are reason for very serious challenges for the qualification, motivation and experience of the human resources, working in logistic companies or in logistic departments of trade and industrial enterprises. The geographic place of Bulgaria puts it in position of a country with some specific competitive advantages in the goods transport from Europe to Asia and back. Along with it, there is a number of logistic companies, that operate in this sphere in Bulgaria. In the current paper, the authors aim to establish the condition of the administrative capacity and human resources in the logistic companies and logistic departments of trade and industrial companies in Bulgaria in order to propose some guidelines for improving of their effectiveness. Due to independent empirical research, conducted in Bulgarian logistic, trade and industrial enterprises, the authors investigate both the impact degree and the interdependence of various factors that characterize the administrative capacity. The study is conducted with a prepared questionnaire, in format of direct interview with the respondents. The volume of the poll is 50 respondents, representatives of: general managers of industrial or trade enterprises; logistic managers of industrial or trade enterprises; general managers of forwarding companies – either with own or with hired transport; experts from Bulgarian association of logistics; logistic lobbyist and scientists of the relevant area. The data are gathered for 3 months, then arranged by a specialized software program and analyzed by preset criteria. Based on the results of this methodological toolbox, it can be claimed that there is a correlation between the individual criteria. Also, a commitment between the administrative capacity and other factors that determine the competitiveness of the studied companies is established. In this paper, the authors present results of the empirical research that concerns the number and the workload in the logistic departments of the enterprises. Also, what is commented is the experience, related to logistic processes management and human resources competence. Moreover, the overload level of the logistic specialists is analyzed as one of the main threats for making mistakes and losing clients. The paper stands behind the thesis that there is indispensability of forming an effective and efficient administrative capacity, based on the number, qualification, experience and motivation of the staff in the logistic companies. The paper ends with recommendations about the qualification and experience of the specialists in logistic departments; providing effective and efficient administrative capacity in the logistic departments; interdependence of the human factor and the other factors that influence the enterprise competitiveness.

Keywords: Administrative capacity, human resources, logistic competitiveness, staff qualification.

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Authors: Pauliasi Tony Fakahau

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This paper provides an overview of the impact of the revenue reform programme on vulnerable communities in the Kingdom of Tonga. Economic turmoil and mismanagement during the late 1990s forced the government to seek technical and financial assistance from the Asian Development Bank to undertake a comprehensive Economic and Public Sector Reform (EPSR) programme. The EPSR is a Western model recommended by donor agencies as the solution to Tonga’s economic challenges. The EPSR programme included public sector reform, private sector growth, and revenue generation. Tax reform was the main tool for revenue generation, which set out to strengthen tax compliance and administration as well as implement a value-added consumption tax. The EPSR is based on Western values and ideology but failed to recognise that Tongan cultural values are important to the local community. Two participant groups were interviewed. Participant group one consisted of 51 people representing vulnerable communities. Participant group two consisted of six people from the government and business sector who were from the elite of Tongan society. The Kakala Research Methodology provided the framework for the research, and the Talanoa Research Method was used to conduct semi-structured interviews in the homes of the first group and in the workplaces of the second group. The research found a heavy burden of the consumption tax on the purchasing power of participant group one (vulnerable participants), having an impact on nearly every financial transaction they made. Participant group one’s main financial priorities were kavenga fakalotu (obligations to the church), kavenga fakafāmili (obligations to the family) and kavenga fakafonua (obligations to cultural events for the village, nobility, and royalty). The findings identified inequalities of the revenue reform, especially from consumption tax, for vulnerable people and communities compared to the elite of society. The research concluded that government and donor agencies need ameliorating policies to reduce the burden of tax on vulnerable groups more susceptible to the impact of revenue reform.

Keywords: Tax reform, Tonga vulnerable community revenue, revenue reform, public sector reform.

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Authors: Mario Spremić

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Despite the financial crisis and ongoing need for cost cutting, companies all around the world heavily invest in Information Systems (IS) and underlying Information Technology (IT). Proliferation of governance of enterprise IT helps companies manage, or rather, governs IS as a primary business function with executive management involved in making decision about IS and IT. The business value of IT is raising with the involvement of the executive management in IT decision making process and quality IT governance mechanisms in place. In this paper the practice of governing the enterprise IT will be investigated on a sample of the largest 100 Croatian companies. Research questions posed here will reveal if there are some formal IT governance mechanisms, are there any differences in perceived role of IS and IT between CIOs (Chief Information Officers) and CEOs (Chief Executive Officers) of the sampled companies and what are the mechanisms to govern massive investment in enterprise IT.

Keywords: IT governance, governance of enterprise IT, information system auditing, IT maturity.

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Authors: Brent McKenzie, Victoria Taylor

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The use of QR (Quick Response Codes) codes for customer scanning with mobile phones is a rapidly growing trend. The QR code can provide the consumer with product information, user guides, product use, competitive pricing, etc. One sector for QR use has been in retail, through the use of Electronic Shelf Labeling (henceforth, ESL). In Europe, the use of ESL for pricing has been in practice for a number of years but continues to lag in acceptance in North America. Stated concerns include costs as a key constraint, but there is also evidence that consumer acceptance represents a limitation as well. The purpose of this study is to present the findings of a consumer based study to gage the impact on their use in the retail food sector.

Keywords: Electronic shelf labels (ESL), consumer insights, retail food sector.

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Authors: Muhammad Naveed, Yang Caixia

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The need for national space legislation is pivotal, particularly in light of the fact that in recent years space activities have grown immensely both in volume and diversity. Countries are progressively developing capabilities in space exploration and scientific discoveries, market their capabilities to manufacture satellites, provide launch services from their facilities and are looking to privatize and commercialize their space resources. Today, nations are also seeking to comprehend the technological and financial potential of the private sector and are considering to share their financial burdens with them and to limit their exposures to risks, but they are lagging behind in legal framework in this regard. In the perspective of these emerging developments, it is therefore, felt that national space legislation should be enacted with the goal of building and implementing a vibrant and transparent legal framework at the national level to hasten investments and to ensure growth in this capital intensive - highly yield strategic sector. This study looks at (I) the international legal framework that governs space activities; (II) motivation behind making national space laws; and (III) the need for national space legislation. The paper concludes with some recommendations with regards to the conceivable future direction for national space legislation, in particular space empowered sub-areas for countries.

Keywords: International conventions, national legislation, space faring nation, space law.

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Authors: Mohammad Amjad, Muhammad Iqbal Zafar, Ashfaq Ahmed Maan, Muhammad Tayyab Kashif

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Obesity is an abnormal physical condition where an increased and undesirable fat accumulates in the human body. Obesity is an international phenomenon. In the present study, 12 schools were randomly selected from each district considering the areas i.e. Elite Private Schools in the private sector, Government schools in urban areas and Government schools in rural areas. Interviews were conducted with male students studying in grade 5 to grade 9 in each school. The sample size was 600 students; 300 from Faisalabad district and 300 from Rawalpindi district in Pakistan. A well-structured and pre-tested questionnaire was used for data collection. The calibrated scales were used to attain the heights and weights of the respondents. Obesity of school-going children depends on family types, family size, family history, junk food consumption, mother’s education, weekly time spent in walking, and sports facility at school levels. Academic performance, physical health and psychological health of school going children are affected with obesity. Concrete steps and policies could minimize the incidence of obesity in children in Pakistan.

Keywords: BMI, cardiovascular disease, fast food, morbidity and overweight.

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Authors: Nada Azhar

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As a developing country, The Kingdom of Saudi Arabia (KSA) needs to make the best possible use of its workforce for social and economic reasons. The workforce is diverse, calling for appropriate diversity management (DM). The thesis focuses on the banking sector in KSA. To date, there have been no studies on DM in the banking sector in this country. Many organizations have introduced specific policies and programmes to improve the recruitment, inclusion, promotion, and retention of diverse employees, in addition to the legal requirements existing in many countries. However, Western-centric models of DM may not be applicable, at least not in their entirety, in other regions.

The aim of the study is to devise a framework for understanding gender, age and disability DM in the banking sector in KSA in order to enhance DM in this sector. A sample of 24 managers, 2 from each of the 12 banks, was interviewed to obtain their views on DM in the banking sector in KSA. Thematic analysis was used to analyze the data. These themes were used to develop the questionnaire, which was administered to 10 managers in each of the 12 banks. After analysis of these data, and completion of the study, the research will make a theoretical contribution to the knowledge on DM and a practical contribution to the management of diversity in Saudi banks. This paper concerns a work in progress.

Keywords: Age, disability, diversity, gender, Kingdom of Saudi Arabia.

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Authors: Zuzana Crhova, Karel Kolman, Drahomíra Pavelkova

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Knowledge is considered as an important asset which can help organizations to create competitive advantage. The necessity of taking care of these assets is more important in these days – in days of turbulent changes in business environment. Knowledge could facilitate adaption to constant changes. The aim of this paper is to describe how the knowledge sharing can be supported in the manufacturing companies. The methods of case studies and grounded theory were used to present information gained by carrying out semistructured interviews. Results show that knowledge sharing is supported in very similar ways in respondent companies.

Keywords: Case Study, Human Resource Management, Knowledge, Knowledge Sharing.

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Authors: Ernest Nweke, Enkhtuya Bavuudorj

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The harsh realities of the scandalous failure of several notable corporations in the past two decades have inextricably resulted in a surge in corporate governance studies. Nevertheless, little or no attention has been paid to corporate governance studies in Mongolian firms and much less to the comprehension of the correlation among ownership structure, corporate governance mechanisms and trend of innovative activities. Innovation is the bed rock of enterprise success. However, the funding and support for innovative activities in many firms are to a great extent determined by the incentives provided by the firm’s internal and external governance mechanisms. Mongolia is an East Asian country currently undergoing a fast-paced transition from socialist to democratic system and it is a widely held view that private ownership as against public ownership fosters innovation. Hence, following the privatization policy of Mongolian Government which has led to the transfer of the ownership of hitherto state controlled and state directed firms to private individuals and organizations, expectations are high that sufficient motivation would be provided for firm managers to engage in innovative activities. This research focuses on the relationship between ownership structure, corporate governance on one hand and the level of innovation on the hand. The paper is empirical in nature and derives data from both reliable secondary and primary sources. Secondary data for the study was in respect of ownership structure of Mongolian listed firms and innovation trend in Mongolia generally. These were analyzed using tables, charts, bars and percentages. Personal interviews and surveys were held to collect primary data. Primary data was in respect of corporate governance practices in Mongolian firms and were collected using structured questionnaire. Out of a population of three hundred and twenty (320) companies listed on the Mongolian Stock Exchange (MSE), a sample size of thirty (30) randomly selected companies was utilized for the study. Five (5) management level employees were surveyed in each selected firm giving a total of one hundred and fifty (150) respondents. Data collected were analyzed and research hypotheses tested using Chi-Square test statistic. Research results showed that corporate governance mechanisms were better and have significantly improved overtime in privately held as opposed to publicly owned firms. Consequently, the levels of innovation in privately held firms were considerably higher. It was concluded that a significant and positive relationship exists between private ownership and good corporate governance on one hand and the level of funding provided for innovative activities in Mongolian firms on the other hand.

Keywords: Corporate governance, innovation, ownership structure, stock exchange.

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Authors: Edikan E. Akpanibah, Ogunmodimu Dupe Catherine

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The relevance of geometric Brownian motion (GBM) in modelling the behaviour of stock market prices (SMP) cannot be over emphasized taking into consideration the volatility of the SMP. Consequently, there is need to investigate how GBM models are being estimated and used in financial market to predict SMP. To achieve this, the GBM estimation and its application to the SMP of some selected companies are studied. The normal and log-normal distributions were used to determine the expected value, variance and co-variance. Furthermore, the GBM model was used to predict the SMP of some selected companies over a period of time and the mean absolute percentage error (MAPE) were calculated and used to determine the accuracy of the GBM model in predicting the SMP of the four companies under consideration. It was observed that for all the four companies, their MAPE values were within the region of acceptance. Also, the MAPE values of our data were compared to an existing literature to test the accuracy of our prediction with respect to time of investment. Finally, some numerical simulations of the graphs of the SMP, expectations and variance of the four companies over a period of time were presented using MATLAB programming software.

Keywords: Stock Market, Geometric Brownian Motion, normal and log-normal distribution, mean absolute percentage error.

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Authors: González Carreño G., Rejas Muslera Rj., Padilla Fernández-Vega J., Cepeda González M. I.

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Automobile Industry has great importance in the Spanish economy (8,7 % of the active Spanish population is employed in this sector).The above mentioned sector has been one of the principal sectors affected by the current economic crisis, consistently, the budgets in advertising have been severely limited (46,9 % less in the period of reference), these needs of reduction have originated a substantial change in the advertising strategy (from 2007 the increase of the advertising investment in Internet is 251,6 %), and increase profitability. The growing use of social media by consumers therefore makes online consumer conversations an attractive additional format for Automobile firms to promote products at a lower cost. This research analyzes the relation between the activity in Social Media and the design in the car industry, looking for relations between strategies of design based on Social Media and sales and a channel of information for companies to know what the consumer preferences. For this ongoing research we used a longitudinal withdrawal of information has been used using information of panel. Managerial and research implications of the finding are discussed.

Keywords: Automobile Industry, Design, Economics Crisis, Innovation, Internet, Social Media.

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Authors: Zeynep Ayfer Bozat

Abstract:

As traditional innovation has already taken its place in managers’ to do lists; managers and companies have started to look for new ways to go beyond the traditional innovation. Because of its cost, traditional innovation became a burden for companies since they only use inner sources. Companies have intended to use outer innovation sources to decrease the innovation costs and Open Innovation has become a new solution for companies at this point. Crowdsourcing is a tool of Open Innovation and it consists of two words: Outsourcing and crowd. Crowdsourcing aims to benefit from the efforts and ideas of a virtual crowd via Internet technologies. In addition to that, crowdsourcing can help entrepreneurs to innovate and grow their businesses. They can crowd source anything they can use to grow their businesses: Ideas, investment, new business, new partners, new solutions, new policies, data, insight, marketing or talent. Therefore, the aim of the study is to be able to show some possible ways for entrepreneurs to benefit from crowdsourcing to expand or foster their businesses. In the study, the term crowdsourcing has been given in details and these possible ways have been searched and given.

Keywords: Crowdsourcing, entrepreneurship, innovation, open innovation.

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Authors: Noor Azlina Mohd Salleh, Salmiah Kasolang, Ahmed Jaffar

Abstract:

Green Lean Total Quality Management (TQM) System is a system comprises of Environmental Management System (EMS) practices which is integrated to TQM with Lean Manufacturing (LM) principles. The ultimate goal of this system is to focus on achieving total customer satisfaction and environmental care by removing eight wastes available in any process in an organization. A survey questionnaire was developed and distributed to 30 highly active automotive vendors in Malaysia and analyzed by SPSS v.17. It was found out that some vendors have been practicing TQM and LM while some have started to implement EMS. This study is only focusing on highly active companies that have been involved in MAJAICO Program and Proton Vendor Development Program. This is the first study conducted to know the current status of TQM, LM and EMS practices in highly active automotive companies in Malaysia. It was found out that EMS has been practiced by 16 companies out of 30. Within these 16 companies the approach is more holistic and green. This is a preliminary study that combined 4 awards practices, ISO/TS16949, Toyota Production System SAEJ4000, MAJAICO Lean Production System and EMS.

Keywords: Automotive Industry, Lean Manufacturing, Operational Engineering Management, Total Quality Management. Environmental Management System.

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Authors: M. S. Indati, H. A. Bekhet

Abstract:

Global CO₂ emission and increasing fuel consumption to meet energy demand has become a threat in recent decades. Effort to reduce the CO₂ emission is now a matter of priority in most countries of the world including Malaysia. Transportation has been identified as the most intensive sector of carbon-based fuels and achievement of the voluntary target to meet 40% carbon intensity reduction set at the 15^th Conference of the Parties (COP15) means that the emission from the transport sector must be reduced accordingly. This posed a great challenge to Malaysia and effort has to be made to embrace suitable and appropriate energy policy for sustainable energy and emission reduction of this sector. The focus of this paper is to analyze the trends of Malaysia’s energy consumption and emission of four different transport sub-sectors (road, rail, aviation and maritime). Underlying factors influencing the growth of energy consumption and emission trends are discussed. Besides, technology status towards energy efficiency in transportation sub-sectors is presented. By reviewing the existing policies and trends of energy used, the paper highlights prospective policy options towards achieving emission reduction in the transportation sector.

Keywords: CO2 Emission, Energy policy, Fuel consumption, Transportation sector, Malaysia.

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