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  Subjects -> BUSINESS AND ECONOMICS (Total: 3080 journals)
    - ACCOUNTING (90 journals)
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    - BUSINESS AND ECONOMICS (1139 journals)
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    - TRADE AND INDUSTRIAL DIRECTORIES (2 journals)

BUSINESS AND ECONOMICS (1139 journals)                  1 2 3 4 5 6 | Last

Showing 1 - 200 of 1566 Journals sorted alphabetically
4OR: A Quarterly Journal of Operations Research     Hybrid Journal   (Followers: 9)
Abacus     Hybrid Journal   (Followers: 11)
Accounting Forum     Hybrid Journal   (Followers: 22)
Acta Amazonica     Open Access   (Followers: 3)
Acta Commercii     Open Access   (Followers: 2)
Acta Oeconomica     Full-text available via subscription   (Followers: 2)
Acta Scientiarum. Human and Social Sciences     Open Access   (Followers: 4)
Acta Universitatis Danubius. Œconomica     Open Access  
Acta Universitatis Nicolai Copernici Zarządzanie     Open Access   (Followers: 3)
AD-minister     Open Access   (Followers: 2)
ADR Bulletin     Open Access   (Followers: 5)
Advances in Developing Human Resources     Hybrid Journal   (Followers: 21)
Advances in Economics and Business     Open Access   (Followers: 12)
AfricaGrowth Agenda     Full-text available via subscription   (Followers: 1)
African Affairs     Hybrid Journal   (Followers: 57)
African Development Review     Hybrid Journal   (Followers: 33)
African Journal of Business and Economic Research     Full-text available via subscription   (Followers: 1)
African Journal of Business Ethics     Open Access   (Followers: 7)
African Review of Economics and Finance     Open Access   (Followers: 3)
Afro-Asian Journal of Finance and Accounting     Hybrid Journal   (Followers: 7)
Afyon Kocatepe Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi     Open Access   (Followers: 3)
Agronomy     Open Access   (Followers: 11)
Akademika : Journal of Southeast Asia Social Sciences and Humanities     Open Access   (Followers: 4)
Alphanumeric Journal : The Journal of Operations Research, Statistics, Econometrics and Management Information Systems     Open Access   (Followers: 4)
American Economic Journal : Applied Economics     Full-text available via subscription   (Followers: 126)
American Journal of Business     Hybrid Journal   (Followers: 15)
American Journal of Business and Management     Open Access   (Followers: 51)
American Journal of Business Education     Open Access   (Followers: 10)
American Journal of Economics and Business Administration     Open Access   (Followers: 24)
American Journal of Economics and Sociology     Hybrid Journal   (Followers: 28)
American Journal of Evaluation     Hybrid Journal   (Followers: 12)
American Journal of Finance and Accounting     Hybrid Journal   (Followers: 18)
American Journal of Health Economics     Full-text available via subscription   (Followers: 13)
American Journal of Industrial and Business Management     Open Access   (Followers: 23)
American Journal of Medical Quality     Hybrid Journal   (Followers: 7)
American Law and Economics Review     Hybrid Journal   (Followers: 26)
ANALES de la Universidad Central del Ecuador     Open Access   (Followers: 1)
Annales de l'Institut Henri Poincare (C) Non Linear Analysis     Full-text available via subscription   (Followers: 1)
Annals in Social Responsibility     Full-text available via subscription  
Annals of Finance     Hybrid Journal   (Followers: 28)
Annals of Operations Research     Hybrid Journal   (Followers: 8)
Annual Review of Economics     Full-text available via subscription   (Followers: 29)
Applied Developmental Science     Hybrid Journal   (Followers: 3)
Applied Economics     Hybrid Journal   (Followers: 44)
Applied Economics Letters     Hybrid Journal   (Followers: 28)
Applied Economics Quarterly     Full-text available via subscription   (Followers: 10)
Applied Financial Economics     Hybrid Journal   (Followers: 23)
Applied Mathematical Finance     Hybrid Journal   (Followers: 7)
Applied Stochastic Models in Business and Industry     Hybrid Journal   (Followers: 5)
Arab Economic and Business Journal     Open Access   (Followers: 3)
Archives of Business Research     Open Access   (Followers: 5)
Arena Journal     Full-text available via subscription   (Followers: 1)
Argomenti. Rivista di economia, cultura e ricerca sociale     Open Access   (Followers: 2)
ASEAN Economic Bulletin     Full-text available via subscription   (Followers: 5)
Asia Pacific Business Review     Hybrid Journal   (Followers: 5)
Asia Pacific Journal of Human Resources     Hybrid Journal   (Followers: 318)
Asia Pacific Viewpoint     Hybrid Journal  
Asia-Pacific Journal of Business Administration     Hybrid Journal   (Followers: 3)
Asia-Pacific Journal of Operational Research     Hybrid Journal   (Followers: 3)
Asian Business Review     Open Access   (Followers: 2)
Asian Case Research Journal     Hybrid Journal   (Followers: 1)
Asian Development Review     Open Access   (Followers: 14)
Asian Economic Journal     Hybrid Journal   (Followers: 8)
Asian Economic Papers     Hybrid Journal   (Followers: 7)
Asian Economic Policy Review     Hybrid Journal   (Followers: 3)
Asian Journal of Accounting and Governance     Open Access   (Followers: 3)
Asian Journal of Business Ethics     Hybrid Journal   (Followers: 7)
Asian Journal of Social Sciences and Management Studies     Open Access   (Followers: 6)
Asian Journal of Sustainability and Social Responsibility     Open Access  
Asian Journal of Technology Innovation     Hybrid Journal   (Followers: 8)
Asian-pacific Economic Literature     Hybrid Journal   (Followers: 5)
AStA Wirtschafts- und Sozialstatistisches Archiv     Hybrid Journal   (Followers: 5)
Atlantic Economic Journal     Hybrid Journal   (Followers: 15)
Australasian Journal of Regional Studies, The     Full-text available via subscription   (Followers: 2)
Australian Cottongrower, The     Full-text available via subscription   (Followers: 1)
Australian Economic Papers     Hybrid Journal   (Followers: 22)
Australian Economic Review     Hybrid Journal   (Followers: 6)
Australian Journal of Maritime and Ocean Affairs     Hybrid Journal   (Followers: 10)
Balkan Region Conference on Engineering and Business Education     Open Access   (Followers: 1)
Baltic Journal of Real Estate Economics and Construction Management     Open Access   (Followers: 1)
Banks in Insurance Report     Hybrid Journal   (Followers: 1)
BBR - Brazilian Business Review     Open Access   (Followers: 4)
Benchmarking : An International Journal     Hybrid Journal   (Followers: 11)
BER : Consumer Confidence Survey     Full-text available via subscription   (Followers: 4)
BER : Economic Prospects : An Executive Summary     Full-text available via subscription  
BER : Economic Prospects : Full Survey     Full-text available via subscription   (Followers: 2)
BER : Intermediate Goods Industries Survey     Full-text available via subscription   (Followers: 1)
BER : Manufacturing Survey : Full Survey     Full-text available via subscription   (Followers: 2)
BER : Motor Trade Survey     Full-text available via subscription   (Followers: 1)
BER : Retail Sector Survey     Full-text available via subscription   (Followers: 2)
BER : Retail Survey : Full Survey     Full-text available via subscription   (Followers: 2)
BER : Survey of Business Conditions in Building and Construction : An Executive Summary     Full-text available via subscription   (Followers: 4)
BER : Survey of Business Conditions in Manufacturing : An Executive Summary     Full-text available via subscription   (Followers: 3)
BER : Survey of Business Conditions in Retail : An Executive Summary     Full-text available via subscription   (Followers: 3)
BER : Trends : Full Survey     Full-text available via subscription   (Followers: 2)
BER : Wholesale Sector Survey     Full-text available via subscription   (Followers: 1)
Berkeley Business Law Journal     Free   (Followers: 11)
Bio-based and Applied Economics     Open Access   (Followers: 1)
Biodegradation     Hybrid Journal   (Followers: 1)
Biology Direct     Open Access   (Followers: 7)
Black Enterprise     Full-text available via subscription  
Board & Administrator for Administrators only     Hybrid Journal  
Border Crossing : Transnational Working Papers     Open Access   (Followers: 2)
Briefings in Real Estate Finance     Hybrid Journal   (Followers: 5)
British Journal of Industrial Relations     Hybrid Journal   (Followers: 30)
Brookings Papers on Economic Activity     Open Access   (Followers: 47)
Brookings Trade Forum     Full-text available via subscription   (Followers: 3)
BRQ Business Research Quarterly     Open Access   (Followers: 2)
Building Sustainable Legacies : The New Frontier Of Societal Value Co-Creation     Full-text available via subscription   (Followers: 1)
Bulletin of Economic Research     Hybrid Journal   (Followers: 17)
Bulletin of Geography. Socio-economic Series     Open Access   (Followers: 7)
Bulletin of Indonesian Economic Studies     Hybrid Journal   (Followers: 3)
Bulletin of the Dnipropetrovsk University. Series : Management of Innovations     Open Access   (Followers: 1)
Business & Entrepreneurship Journal     Open Access   (Followers: 16)
Business & Information Systems Engineering     Hybrid Journal   (Followers: 5)
Business & Society     Hybrid Journal   (Followers: 9)
Business : Theory and Practice / Verslas : Teorija ir Praktika     Open Access   (Followers: 1)
Business and Economic Research     Open Access   (Followers: 6)
Business and Management Horizons     Open Access   (Followers: 12)
Business and Management Research     Open Access   (Followers: 17)
Business and Management Studies     Open Access   (Followers: 9)
Business and Politics     Hybrid Journal   (Followers: 6)
Business and Professional Communication Quarterly     Hybrid Journal   (Followers: 7)
Business and Society Review     Hybrid Journal   (Followers: 5)
Business Economics     Hybrid Journal   (Followers: 6)
Business Ethics: A European Review     Hybrid Journal   (Followers: 16)
Business Horizons     Hybrid Journal   (Followers: 8)
Business Information Review     Hybrid Journal   (Followers: 13)
Business Management and Strategy     Open Access   (Followers: 40)
Business Research     Hybrid Journal   (Followers: 2)
Business Strategy and the Environment     Hybrid Journal   (Followers: 12)
Business Strategy Review     Hybrid Journal   (Followers: 7)
Business Strategy Series     Hybrid Journal   (Followers: 6)
Business Systems & Economics     Open Access   (Followers: 2)
Business Systems Research Journal     Open Access   (Followers: 5)
Business, Management and Education     Open Access   (Followers: 17)
Business, Peace and Sustainable Development     Full-text available via subscription   (Followers: 3)
Bustan     Hybrid Journal   (Followers: 1)
Cadernos EBAPE.BR     Open Access   (Followers: 1)
Cambridge Journal of Economics     Hybrid Journal   (Followers: 54)
Cambridge Journal of Regions, Economy and Society     Hybrid Journal   (Followers: 9)
Canadian Journal of Administrative Sciences / Revue Canadienne des Sciences de l Administration     Hybrid Journal   (Followers: 1)
Canadian Journal of Economics/Revue Canadienne d`Economique     Hybrid Journal   (Followers: 26)
Canadian journal of nonprofit and social economy research     Open Access   (Followers: 2)
Capitalism and Society     Hybrid Journal   (Followers: 2)
Capitalism Nature Socialism     Hybrid Journal   (Followers: 11)
Case Studies in Business and Management     Open Access   (Followers: 8)
CBU International Conference Proceedings     Open Access   (Followers: 1)
Central European Journal of Operations Research     Hybrid Journal   (Followers: 5)
Central European Journal of Public Policy     Open Access   (Followers: 1)
CESifo Economic Studies     Hybrid Journal   (Followers: 16)
Chain Reaction     Full-text available via subscription  
Challenge     Full-text available via subscription   (Followers: 4)
China & World Economy     Hybrid Journal   (Followers: 15)
China : An International Journal     Full-text available via subscription   (Followers: 16)
China Economic Journal: The Official Journal of the China Center for Economic Research (CCER) at Peking University     Hybrid Journal   (Followers: 9)
China Economic Review     Hybrid Journal   (Followers: 10)
China Finance Review International     Hybrid Journal   (Followers: 5)
China Nonprofit Review     Hybrid Journal   (Followers: 3)
China perspectives     Open Access   (Followers: 11)
Chinese Economy     Full-text available via subscription  
Ciência & Saúde Coletiva     Open Access   (Followers: 2)
CLIO América     Open Access   (Followers: 1)
Cliometrica     Hybrid Journal   (Followers: 2)
COEPTUM     Open Access  
Community Development Journal     Hybrid Journal   (Followers: 24)
Compensation & Benefits Review     Hybrid Journal   (Followers: 6)
Competition & Change     Hybrid Journal   (Followers: 10)
Competitive Intelligence Review     Hybrid Journal   (Followers: 2)
Competitiveness Review : An International Business Journal incorporating Journal of Global Competitiveness     Hybrid Journal   (Followers: 5)
Computational Economics     Hybrid Journal   (Followers: 9)
Computational Mathematics and Modeling     Hybrid Journal   (Followers: 8)
Computer Law & Security Review     Hybrid Journal   (Followers: 15)
Computers & Operations Research     Hybrid Journal   (Followers: 10)
Construction Innovation: Information, Process, Management     Hybrid Journal   (Followers: 14)
Contemporary Wales     Full-text available via subscription   (Followers: 3)
Contextus - Revista Contemporânea de Economia e Gestão     Open Access   (Followers: 1)
Contributions to Political Economy     Hybrid Journal   (Followers: 6)
Corporate Communications An International Journal     Hybrid Journal   (Followers: 5)
Corporate Philanthropy Report     Hybrid Journal   (Followers: 2)
Corporate Reputation Review     Hybrid Journal   (Followers: 4)
Creative and Knowledge Society     Open Access   (Followers: 10)
Creative Industries Journal     Hybrid Journal   (Followers: 8)
CRIS - Bulletin of the Centre for Research and Interdisciplinary Study     Open Access   (Followers: 1)
Crossing the Border : International Journal of Interdisciplinary Studies     Open Access   (Followers: 4)
Cuadernos de Administración (Universidad del Valle)     Open Access   (Followers: 1)
Cuadernos de Economía     Open Access   (Followers: 1)
Cuadernos de Economia - Latin American Journal of Economics     Open Access   (Followers: 1)
Cuadernos de Estudios Empresariales     Open Access   (Followers: 1)
Current Opinion in Creativity, Innovation and Entrepreneurship     Open Access   (Followers: 8)
De Economist     Hybrid Journal   (Followers: 12)
Decision Analysis     Full-text available via subscription   (Followers: 8)
Decision Sciences     Hybrid Journal   (Followers: 15)
Decision Support Systems     Hybrid Journal   (Followers: 15)
Defence and Peace Economics     Hybrid Journal   (Followers: 16)
der markt     Hybrid Journal   (Followers: 1)
Desenvolvimento em Questão     Open Access  
Development     Full-text available via subscription   (Followers: 23)
Development and Change     Hybrid Journal   (Followers: 46)
Development and Learning in Organizations     Hybrid Journal   (Followers: 7)

        1 2 3 4 5 6 | Last

Journal Cover Advances in Economics and Business
  [12 followers]  Follow
    
  This is an Open Access Journal Open Access journal
   ISSN (Print) 2331-5059 - ISSN (Online) 2331-5075
   Published by Horizon Research Publishing Homepage  [54 journals]
  • Short Term Capital Flows and Pressure on the Exchange Rate in Kenya

    • Abstract: Publication date:  May 2017
      Source:Advances in Economics and Business  Volume  5  Number  5  Benjamin Ongwae Maturu   Using Bayesian vector auto-regression methodology, we empirically analyze the dynamic responses of the exchange rate to sudden changes in net short term capital inflows, among other economic factors, in Kenya. Based on impulse response results, we find, rather surprisingly, that a sudden increase in net short term capital inflows immediately induces a depreciating effect which increases during the first two quarters upon which a correction ensues whereby the exchange rate appreciates for 4 quarters after which the effect dies off. We believe that the sudden net short term capital inflows are initially monetized thereby becoming a domestic nominal shock which causes a Dornbusch-like exchange rate overshooting. We also find that a sudden increase in interest rate differentials immediately causes an appreciating effect which dies off within a year. Furthermore, a sudden increase in interest rate differentials immediately attracts net short term capital inflows followed by persistent capital reversals within 2 quarters. The variance decomposition results show that, 71.4% of the one quarter-ahead and 54.2% of the four quarters-ahead exchange rate forecast errors are accounted for by the interest rate differentials. Net short term capital inflows' share in the one quarter ahead exchange rate forecast error is a mere 0.1%. At its best, it accounts for only 6.8% of the seven-to-eight quarters ahead exchange rate forecast errors. These results suggest that net short term capital inflows play a relatively limited role compared to interest rate differentials in determination of exchange rates dynamics in Kenya.
      PubDate: May 2017
       
  • Learning from the Past: Entrepreneurship through Apprenticeship for More
           Successful Outcomes

    • Abstract: Publication date:  May 2017
      Source:Advances in Economics and Business  Volume  5  Number  5  Henrietta Onwuegbuzie   Current statistics show that 75-80% of most business start-ups tend to fail within the first three years. However, studies have shown that traditional methods of entrepreneurship, which are based on apprenticeship, record significantly higher success rates. This paper highlights the valuable traditional practice of apprenticeship, which effectively produced successful entrepreneurs, compared to today's high failure rate of start-ups. The paper allows a reflection on how to improve the success rates of business start-ups through the practice of apprenticeship along with classroom learning. Using the qualitative case study method, the paper provides researchers an opportunity to look into why hands-on learning tends to lead to more successful entrepreneurial outcomes, and to study what combination of theory and hands-on learning, via apprenticeship, will lead to a higher rate of successful entrepreneurial ventures. The paper thus has significant implications for both research and practice. The paper also allows practitioners obtain insights on best practices in transmitting entrepreneurial skills.
      PubDate: May 2017
       
  • Foreign Direct Investment in State Owned Enterprises

    • Abstract: Publication date:  May 2017
      Source:Advances in Economics and Business  Volume  5  Number  5  Kyu-Hee Joo   Hyoung Suk Shim   and Wonsik Sul   We analyze determinants of foreign direct investment (FDI) in non-competitive industries. We develop a micro-level FDI determination model that allows for nonzero mark-up, and estimate it using the administrative FDI recipient records and annual financial statement data for Korean state owned enterprises (SOE). Using SOEs as our research objects can rule out the endogeneities of mark-up, firm ownership structure and the associated vertical or horizontal incentive FDI. This yields a consistent estimation of the effect of mark-up and other productivity-related factors on FDI. From the empirical analysis, we find that FDI is more likely to flow into firms with large-scale physical capital and output, and a positive mark-up, and the effect is the inverse of the number of workers in the firms, which implies that FDI might not cause productivity spillover effect in non-competitive industries.
      PubDate: May 2017
       
  • "Emerging" through Foreign Investment: Investment Development Path
           Estimation of "MINT" Economies

    • Abstract: Publication date:  May 2017
      Source:Advances in Economics and Business  Volume  5  Number  5  Emine Beyza Satoglu   This article aims to analyze the relationship between the foreign investment, both inward and outward, and the development levels of the emerging market economies: Mexico, Indonesia, Nigeria and Turkey (MINT). Dunning's IDP (Investment Development Path) theory has been used as the basis for empirical analysis covering the recent globalization era: 1990-2013. The fixed effects longitudinal data analysis for the four countries demonstrated that MINT economies are at the 2nd stage of IDP. At the same time, increasing level of inward FDI flows into these countries prove the potential of these economies to be represented as "second generation of fast growing developing countries" after the BRICS. Thus, this study aims to improve our understanding on the emerging economies by focusing on a new group (MINT) and it demonstrates the interaction of inward/outward FDI and the GDP growth in that group of countries.
      PubDate: May 2017
       
  • Understanding Consumers' Satisfaction and Loyalty: A Comparative Study of
           Services in India and Japan

    • Abstract: Publication date:  May 2017
      Source:Advances in Economics and Business  Volume  5  Number  5  Yoshie Nagashima   and Naoki Nagashima   The main objective of this paper is to illustrate validity of Consumer Satisfaction (CS) and Loyalty research as an effective complement to conducting ethnographic research. More and more companies who enter foreign markets increasingly rely on ethnographic research. However, in conducting ethnographic research, field workers need to attach themselves to the local communities, and this type of research is highly elaborate and complex. This paper suggests that CS and Loyalty research is effective in understanding consumers' traits, and provides valid insight in a short period of time. In our study, we take up eat-out experiences at restaurants and coffee shop chains. Our findings on urban middle-class consumers in two Asian countries, India and Japan, indicate 1) "Expectancy-disconfirmation model" and "Loyalty ladder" do not apply to Indian consumers, while they apply well to the Japanese counterparts, 2) different attributes are important in terms of impact on CS between the two countries, and 3) an improved CS is more likely to lead to positive word of mouth than repeated usage of the service in India, and the reverse holds for Japan. The findings from this study indicate validity of the method and framework of research conducted.
      PubDate: May 2017
       
  • ESCORT (Enterprise Services Cross-sell Optimization Using Rigorous Tests
           of Association)

    • Abstract: Publication date:  May 2017
      Source:Advances in Economics and Business  Volume  5  Number  5  Nishant Saxena   Cross Selling has been used successfully by many organizations historically. The core idea behind cross selling is the consumer behavior of buying a product or service along with another product or service; which he or she may not have bought otherwise. Traditionally cross selling has been done using the gut feeling and common sense. With advent of statistic many organizations in retail industry started using analytical methods to identify cross sell opportunities. The key to their success was predominantly the robust historical sales database built over time and the option to choose from endless permutations and combinations of products which they could sell. But the enterprise or B2B businesses, especially in services industry, have not been so lucky; as the biggest challenge for them has been the lack of sufficient data and the high price of enterprise service offerings. We would like to share through this paper that how we succeeded in solving these problems and how one can apply market basket analysis on their sales pipeline data to not only improve revenue but to also cut down the operating cost. We strongly believe that this approach could be very useful for a lot of B2B organizations in the services industry with multiple offerings and limited budget to pursue all possible cross sell opportunities.
      PubDate: May 2017
       
  • The Prediction of Future Profitability Using Life Cycle Theory Based on
           Cash Flow Pattern

    • Abstract: Publication date:  Mar 2017
      Source:Advances in Economics and Business  Volume  5  Number  3  Zahra Hashemi Oskouei   and Rasoul Baradaran Hasan Zadeh   This paper aims to predict the future profitability of a firm using the life cycle theory based on the cash flow statement. In this study, changes in return on net operating assets were considered as a dependent variable. The profitability factors were independent variables and the risk factors were used as a control variable in order to examine the prediction of the future profitability. The statistical samples were classified into the stages of introduction, growth, maturity, shake-out and decline by using cash flow patterns. The results of 1,123 (firms - years) over the time period of 2002 and 2011 showed that the return of the net operating assets, their variations and changes in the asset turnover at different stages of the life cycle have an impact on the future profitability of the firms.
      PubDate: Mar 2017
       
  • Entrepreneurship of Eco-system and Its Transformation, Using the Example
           of Republic of Egypt

    • Abstract: Publication date:  Mar 2017
      Source:Advances in Economics and Business  Volume  5  Number  3  Veronika Silinevicha   Hany Moussa   and Kristine Kalinina   The Egyptian economy is one of the most diversified economies in the Middle East—tourism, agriculture, manufacturing and services sectors all contribute with semi-equal ratios to the gross national product. Due to recent structural reform, the Egyptian economy is achieving high growth rates—and an attractive investment climate has evolved thanks to positive developments in infrastructure, transportation, communication, energy, skilled labor, modern industrial cities, free zones, banking and stock markets.
      PubDate: Mar 2017
       
  • Corporate Reputation Rankings 2016: and the Winner Is?

    • Abstract: Publication date:  Mar 2017
      Source:Advances in Economics and Business  Volume  5  Number  3  Laura Zizka   Corporate social responsibility (CSR) and sustainability initiatives, actions, and communication are strategic aspects in establishing corporate reputation. Each year, numerous rankings are published which measure corporate reputation on a global scale. In this study, 20 global companies were assessed based on five of those rankings, 2016 Global RepTrak® 100: The World's Most Reputable Companies; 2016 Global CSR RepTrak® Leaders; Global 100 2016; Dow Jones Sustainability Index 2016; and Newsweek Green Ratings 2016 to establish which company has the best reputation for 2016, all criteria and rankings combined. Communication of CSR/sustainability actions was also assessed through the corporate websites. This paper confirms the need for coherent and consistent CSR/sustainability criteria and metrics to accurately establish which company is the most reputable.
      PubDate: Mar 2017
       
  • UTAUT Model in Explaining the Adoption of Mobile Money Usage by MSMEs'
           Customers in Uganda

    • Abstract: Publication date:  Mar 2017
      Source:Advances in Economics and Business  Volume  5  Number  3  Paddy Mugambe   Technology advancement has always been part of organizational efficiency and organizations take investment in technology as part and parcel of their annual plans. The increase in mobile telephone penetration in the emerging economies has presented new frontiers for technology to enhance Micro Small and Medium Enterprises' (MSMES) operations. Combining technological advancement in mobile connectivity with the low coverage of financial institutions/ services, has given rise to the phenomenon of mobile money which has in a way affected the MSMEs both positively and negatively. This paper uses both Meta-analysis and primary data to test to try and determine the extent to which the Unified theory of acceptance and use of technology (Venkatesh et al. 2003) can be used to explain the adoption of Mobile money services by the customers of Micro, small and medium enterprises in Uganda.
      PubDate: Mar 2017
       
  • Domestic Demand-driven Growth: Analytical Perspectives and Statistics
           Needed

    • Abstract: Publication date:  Mar 2017
      Source:Advances in Economics and Business  Volume  5  Number  3  Yeah, Kim Leng   Given the imbalances in global demand and sluggish growth in the advanced economies, which had absorbed the bulk of world exports before the onset of the 2008/09 global financial crisis (GFC), the shift from export-led growth (ELG) strategies to domestic demand-driven growth (DDDG) strategies appears inevitable for export-oriented economies. In dissecting Malaysia's growth performance into various demand components and sources, it was found that DDDG in Malaysia had helped to offset the weak export demand it had faced over the last decade and, importantly, during the post-GFC years. Using input-output tables to assess the changes in output structure arising from substituting current export demand with domestic demand, the analysis showed that the country's high export orientation in a large number of industries precludes its ability to fully offset any sharp decline in exports. The implication is that DDDG can only effect a partial decoupling from external demand and that given the differences in the composition of export and domestic demand, there will be sectoral differences in the impact on industrial capacity, employment and income arising from the ELG-DDDG shift. In cross-country comparisons, Malaysia's 'apparent' under-consumption and low private investment levels, in concert with its narrowing but still positive savings-investment gap, lend further support to the feasibility and desirability of promoting DDDG to support economic growth. Importantly, DDDG is sustainable only if it maximizes economic efficiency and utilization of resources, skills, human capital, and physical and social infrastructures subject to structural, credit and other constraints. On the consumption side of DDDG, a higher level of spending by the middle and upper income groups will need to be elicited while the income of the low income groups will need to be boosted. Private investment, regardless of domestic or foreign sources or DDDG versus ELG orientation, will be one of the key drivers of DDDG, given the excess savings in the private sector as well as the capacity expansion and productivity growth associated with gross fixed capital formation. Some evidence of lower productivity growth in domestic-oriented industries compared to export-oriented ones reiterates the need for policy measures to boost productivity as part of the DDDG thrusts. Based on a suggested DDDG framework, whereby the fundamental sources of economic growth emanate from output and structural shifts to higher value activities, productivity increases and institutional quality improvements, the statistical needs are examined for each of the four suggested strategic DDDG thrusts. The paper reiterates that DDDG should not be viewed as a substitute for export-led growth (ELG) strategies. Rather, by harnessing the complementarities of the two paradigms, Malaysia can capture the growth opportunities arising from an upswing in external demand while mitigating the adverse effects on output and employment due to volatile export markets by strengthening the resilience of domestic demand.
      PubDate: Mar 2017
       
  • Sports Outfitters' Marketing Strategies: A Comparative Exploratory Study
           in the U.S. and Canada

    • Abstract: Publication date:  Jun 2017
      Source:Advances in Economics and Business  Volume  5  Number  6  Lise Heroux   The outdoor/sports outfitter industry comprises primarily of independent businesses engaged in selling a diverse array of sporting and athletic goods for fitness and exercise, golfing, camping, fishing, winter sports, shooting, racket sports, kayaking and other sports. The successful marketing strategy of outdoor/sports outfitters requires the identification of a target market and development of a marketing mix (product/service, place, price and promotion) that will best satisfy the needs of this target market. This research was conducted to investigate the marketing strategies implemented by outfitters to meet the needs of consumers. A census of the 20 outfitters in the contiguous regions of Quebec and New York/Vermont was visited by observers. Systematic observations were compiled for each establishment. More similarities than differences were found. Sports Outfitters in both regions have well-developed product/service strategies, and personal selling strategies, but weaker promotion strategies with respect to advertising. The Quebec sports outfitters have better location and establishment design strategies than Vermont/New York establishments, while the latter have better pricing strategies. American retailers can benefit from the benchmark provided by Canadian stores with respect to location, while Canadian stores can learn from the pricing strategies of American stores. Improvement in promotion initiatives is needed in both regions.
      PubDate: Jun 2017
       
  • Preventive Medicine through the Efficiency of Marketing Communication and
           Promotional Materials

    • Abstract: Publication date:  Jun 2017
      Source:Advances in Economics and Business  Volume  5  Number  6  Marinela Filofteia Hostiuc   Gabriel Radu   Maria Solomon   and Victor Lorin Purcarea   Health communication and the use of communication strategies aim to inform and to influence general population choices regarding healthcare and quality of life choices. Obesity and overweight status are major contributors to many preventable causes of death. Higher body weight is associated with more death rates. The number of overweight children, adolescents, and adults has risen over the past four decades. Health care programs, by recognizing opportunities to improve communication, assign resources and measure, expand and report health-literacy activities, can succeed in improving the general population health and quality of life.
      PubDate: Jun 2017
       
  • The Communication Aspect of Business Negotiations in the Intercultural
           Context

    • Abstract: Publication date:  Jan 2017
      Source:Advances in Economics and Business  Volume  5  Number  1  Milena Helmová   In the current era of social processes all over the world, the demands on the culture of communication increases, but on the other hand we are more aware of differences in thinking and acting of individuals coming from different cultural backgrounds. These facts are reflected in the international business negotiations, which require some specific abilities and knowledge influencing the successful result of mutual communication from negotiators. In fact, it is impossible not to communicate. There is communication everywhere and all the time. Within the context of this topic, we put a question: How can we communicate properly and successfully with a foreign business partner? In that connection, the cultural background of our business partner is important. There arise frequent misunderstandings during business negotiations because of the partner's different cultural background, which is reflected in their thinking and acting. The aim of this paper is to highlight the importance and direct connection of intercultural literacy as one of the conditions for successful communication in negotiation processes. The paper presents some theoretical starting points for the topic; it offers the views of the problem of interculturality by several theoreticians, and tries to reply the questions directly connected with intercultural business negotiations: what is the impact of my partners' culture on their behavior and thinking? Is intercultural communication only a product of communication in a foreign language, or is it something more than that? What does the intercultural competence of the negotiator mean, and how can it be acquired?
      PubDate: Jan 2017
       
  • Cointegration between Government Expenditure and Revenue: Evidence from
           India

    • Abstract: Publication date:  Jan 2017
      Source:Advances in Economics and Business  Volume  5  Number  1  Asit Ranjan Mohanty   and Bibhuti Ranjan Mishra   The study examines the nexus between tax revenue of the government and public expenditure in India using Johensen-Juselius cointegration Methodology during 1980-81 to 2013-14. It tests four hypotheses relating to the revenue-expenditure nexus, i.e. tax-spend hypothesis, spend-tax hypothesis, fiscal synchronization hypothesis and institutional separation hypothesis. The nexus is studied at centre, state and combined level. The study establishes one cointegrating relationship between public expenditure and tax revenue which suggests a long-run relationship between the two. The results of the Vector Error Correction Models evince that there is one-way causality running from tax revenue to expenditure both in short-run as well as in the long-run. This result justifies the operation of tax-spend hypothesis. The reverse-causality is not found in the analysis either for short or long-run.
      PubDate: Jan 2017
       
  • Intellectual Property Rights and Consumer Behavior

    • Abstract: Publication date:  Jan 2017
      Source:Advances in Economics and Business  Volume  5  Number  1  Maria Markova   The paper "Intellectual property rights and consumer behavior" is focused on IP rights for product innovations and business indicators of the company and their influence on the consumer behavior. The objective of this paper is to reveal the business offer as a complex of IP rights and as a factor of consumer behavior into 2 main aspects: 1. Product innovations with IP rights as a complex utility for consumer. 2. Business indicators with IP rights as an exclusive market proposition. This paper considers the matter of market characteristics of the business offer with implemented product innovations with IP rights for an invention, utility model and industrial design and the business indicators as trademarks, graphic designs, and domain names. The production and marketing of new products with obtained intellectual property rights the whole economic cycle goes through different phases: from a project of innovation to a market proposition with distinctive signs of IP protection. The implementation of IP into a business offer has the significant aim to achieve economic benefits from the implemented innovations and/or business indicators and to receive future revenues from the exclusive market proposition for the consumer. The final part of this paper is focused on the economic aspects of market characteristics of IP as a factor influencing the consumers and as a factor of the company competitiveness based on IP. To prove these conclusions in this paper are used examples of good practices of the successful companies, market studies and IP research.
      PubDate: Jan 2017
       
  • Exploring the Marketing Effect of Corporate Social Responsibility - An
           Experimental Design Approach

    • Abstract: Publication date:  Jan 2017
      Source:Advances in Economics and Business  Volume  5  Number  1  Quey-Jen Yeh   Corporate social responsibility (CSR) is value oriented, based on the perspectives of stakeholders and issues considered essential. Using experimental design, this study designs scenarios in terms of consumer's prior purchase experience with products associated to CSRs. The purpose aims to demonstrate the marketing effect of CSR initiative whereby it stimulates buyers to purchase a high priced CSR-related product or stay with such a product when they are aware of the CSR behavior of the seller. Such effect is examined further for those of less or no prior experience in purchasing CSR-related goods. Our goal is to explore the response of general consumers on ethics relevant issues for better understanding of CSR in business.
      PubDate: Jan 2017
       
  • A Research on the Influence Factors of P2P Lending Market

    • Abstract: Publication date:  Jan 2017
      Source:Advances in Economics and Business  Volume  5  Number  1  Xiaoni Wen   Zhenqi Zhang   and Xiaojuan Wu   The credit platform of P2P network is a new type of lending model which based on Internet technology. It is the inevitable product in the rapid development of science, technology and social economy. It makes the current credit model more diversity and comprehensive, which plays a pivotal role in China's economic development. This paper introduces the mode and characteristics of P2P network lending, as well as the main development of P2P network lending at home and abroad. In this paper, we take the largest P2P network lending website PPDai as an example, using binary logistic regression model to establish a network lending model, researching the factors that affect the success rate of the loan, and carry on the Monte Carlo simulation, to find that credit is an important factor to guarantee the success of P2P transactions. During the period of marketization, compared to traditional finance, P2P network lending model not only has mode innovation but also need to make full use of its advantages of big data, for effective credit and risk assessment. Making outstanding contributions in order to the credit system construction and lending services.
      PubDate: Jan 2017
       
  • Social and Physical Aspects of the Service Encounter: Effects on Trust and
           Customer Loyalty to the Service Provider

    • Abstract: Publication date:  Jan 2017
      Source:Advances in Economics and Business  Volume  5  Number  1  Temessek Behi Azza   and Ben Dahmane Mouelhi Norchene   The purpose of this research is to evaluate the influence of two strategic service encounter dimensions on consumer beliefs and service loyalty. A conceptual model was generated with the aim of seeking to reveal the contribution of the physical environment and social interactions with front line employees on customer's evaluation of the service provider and loyalty. An empirical study is conducted based on a sample of 400 customers of fitness centers. Collected data was analyzed using a structural modeling that highlight the contribution of each predictors. The results revealed that physical and social cues differently influence customer trust and loyalty to the service provider. It seems that social interactions are more effective in building customer trust. Overall, the joint effect of servicescape and social relationships positively influence customer trust and lead to service loyalty. This paper provides empirical evidence on the contribution of two service encounter cues: servicescape and social interaction on customer trust and service loyalty. The research offers a conceptual framework that can be tested in a variety of services. Managerial recommendations focus on improving relational aptitudes of frontline employees, mainly in personal services such as fitness centers.
      PubDate: Jan 2017
       
  • Broad Money Supply and Financial Condition Index for Indian Economy

    • Abstract: Publication date:  Feb 2017
      Source:Advances in Economics and Business  Volume  5  Number  2  Sayan Banerjee   In the context of recent global financial crisis, the impact of exogenous shock to the financial sector on the real sector of the economy has come to the notice of the economists all over the world. The traditional dichotomy between financial and real sector is found to be inadequate for either managing or predicting the economy's overall behavior. In view of this recent development, this paper makes an attempt to construct a Financial Condition Index (FCI) in the context of Indian economy, to explore the possibility of how such an index would be an improvement over the traditional Monetary Condition Index (MCI), which has been the central bank's main instrument. The FCI is constructed by incorporating broad money supply along with real interest rate and official exchange rate. Following a weighted sum approach, the index is constructed by taking into consideration macroeconomic data over two decades of time period. The FCI, thus constructed, shows a significant co-relationship with the variability economy's inflation rate, revealing its usefulness as an indicator for early warning system for Indian economy.
      PubDate: Feb 2017
       
  • Comic Book Heroes Teach Economic and Political Freedom

    • Abstract: Publication date:  Feb 2017
      Source:Advances in Economics and Business  Volume  5  Number  2  Robin S. McCutcheon   This research analyzes the use of comic book heroes to persuade students that being economically and politically free, are far superior to socialism's tenants of self-sacrifice for the good of the community that always end in tyranny.
      PubDate: Feb 2017
       
  • Generic Internationalization Strategies of Emerging Market Multinationals:
           The Case of Chinese Firms

    • Abstract: Publication date:  Feb 2017
      Source:Advances in Economics and Business  Volume  5  Number  2  Kun Tan   This paper investigates how the choices of strategic directions by Chinese multinational enterprises have led them to adopt distinct strategies in internationalization. The study takes a multiple case study approach. It was found that the generic strategies of Chinese internationalization are local optimizer; low-cost supplier, advanced-market seeker, and global consolidator, each of which depends on a multinational enterprise's preference in combination with its strategic directions e.g. target countries, value chain movement, branding, and mode of entry. Finally the generic strategies as a common framework for studying the internationalization of emerging market multinationals are proposed.
      PubDate: Feb 2017
       
  • Strengthening the National Identity through Brands

    • Abstract: Publication date:  Feb 2017
      Source:Advances in Economics and Business  Volume  5  Number  2  Sana Imran   This paper is aimed to highlight the significance of 'Brands' for strengthening the 'National Identity'. It is a modest attempt to analyze how nations accrue global recognition through a systematic proliferation of national brands. Meticulously prepared advertisements and a well thought out media campaign often shape branded products into successful marketing propositions. While the use of brands in influencing the overall national image has become a marketing imperative, products of multi-national origins still remain in great demand. A fine linkage can be traced between the country of origin of a particular brand, the national identity, contribution of brand towards enhancing the national image and consumer ethno-centrism. The conceptual, strategic and practically relevant aspects of this association along with the managerial implications will be discussed in this paper, in a purely academic and research based construct, with a view to validating the following postulates: 1) Brands impact upon the construction of national identity. 2) Brands' influence on national identity is equally applicable in the spheres of diplomacy, defense, economy, trade, fashion and industry. 3) Countries have gained more fame globally, due to their branded products in all walks of life.
      PubDate: Feb 2017
       
  • An Empirical Study Regarding the Satisfaction Level of Taiwanese Youth
           Tourists to Japan

    • Abstract: Publication date:  Feb 2017
      Source:Advances in Economics and Business  Volume  5  Number  2  Fumihiko Isada   Han-Ching Lin   and Yuriko Isada   The objective of this research is to analyze quantitatively the evaluation and background factors for tourist sites in Japan by the younger age group of Taiwanese visitors to Japan, and to consider a future subject. The questionnaire was designed based on consumer-behavior theory, service marketing, etc. as a theory relevant to sightseeing. It turned out that the factors that constitute especially quality of service and experience value are closely related to a revisit intention etc. In addition, as compared with other countries, the factors by which tourist sites in Japan were evaluated highly, and not highly, became clear among those factors.
      PubDate: Feb 2017
       
  • Credit Information System in Albania

    • Abstract: Publication date:  Feb 2017
      Source:Advances in Economics and Business  Volume  5  Number  2  Valbona Çinaj   and Bashkim Ruseti   The booming lending period and many lenders (16 banks and 21 non-bank financial Institutions in Albania) brought about unprecedented competition in credit markets within Albania. Economists usually view lending and competition favorably, but in Albania resulted in a number of unforeseen non-performing loans. Findings report increased problems of borrower over-indebtedness, reduced loan repayment incentives, and growing debts for lenders1. The weakening performance of lenders is due in part to the absence of information sharing in these markets. Because growing numbers of lenders (banks and non-bank financial Institutions in Albania) increase the level of asymmetric information between lenders, credit information systems (often called credit reporting bureaus or credit bureaus) can play a crucial role towards improving credit market performance and, in turn, credit access for the poor. Increases in formal sector lending among the poor have created a need for credit information systems that provide potential lenders with borrower information. Improved screening affects from the system causes the level of non-performing loans to decline. In this paper we will present effects of a credit information system to be implemented in Albania. The weakening performance of lenders is due in part to the absence of information sharing in these markets. Because growing numbers of lenders (banks and non-bank financial Institutions in Albania) increase the level of asymmetric information between lenders, CISs can play a crucial role towards improving credit market performance and, in turn, credit access for the poor.
      PubDate: Feb 2017
       
  • Research and Cooperation Conceptions on the Protection of China-ASEAN
           Geographical Indications under the Trips Agreement

    • Abstract: Publication date:  Feb 2017
      Source:Advances in Economics and Business  Volume  5  Number  2  Xiangjun Kong   Yajuan Feng   Yuejuan Su   and Yinghong Kong   ASEAN is one of the most significant business partners of China. This article analyzes the application of the international agreement on the protection of geographical indications from the perspective of protection and collaboration. It also states the constructive situation between the protection of geographical indications and the administrative system. It asserts that the collaboration under the geographical symbols area of China-ASEAN carries significant stagy meanings in politics, economy and diplomacy and a serious of constructions to establish this collaborative system. What's more, this paper advises the concluding these core contents illustrated as follows: China-ASEAN Expo as a platform for the results of the protection of geographical indications, holding, establishing topic platform of the geographical remarks and registered system of geographical symbols of China-EU.
      PubDate: Feb 2017
       
  • The Analysis of Actual and Expected Inflation in Turkey

    • Abstract: Publication date:  Apr 2017
      Source:Advances in Economics and Business  Volume  5  Number  4  Selçuk Alp   and Elçin Aykaç Alp   The main objective of the Central Bank is to maintain price stability. Policy objectives set out in this direction and policy instruments used for this purpose can be varied. Inflation expectations are considered to be one of the most important policy instruments used today. Especially in the implementation of the inflation targeting regime, emerges a phenomenon to be studied in as the monitoring of inflation expectations, management, ensuring compliance with set targets. In case of inflation targeting regime implementation; the management, monitoring and meeting targets emerges as a phenomenon to be studied. Since 2002 Central Bank of the Republic of Turkey has been monitoring and publishing its expectations for inflation. Those inflation expectations are followed and published regularly. The publication and monitoring has been through the implementation expectations surveys of the Central Bank of the Republic of Turkey. This paper examines the consistency of the inflation rates with the inflation expectations since 2003. Comparative analysis of the consistency has been analysed by the expectations data for the “current month”, “one month ahead", “two months ahead” and “twelve months ahead” and disclosed for the actual inflation rate and inflation expectations. Markov chains analysis was used to examine this adjustment. The resulting long-term equilibrium (steady state) levels were compared to the expected realization via probabilities.
      PubDate: Apr 2017
       
  • Relevance of the Pattern of Labor Disputes and the Transformation of
           Manufacturing Industry - Based on the Case Analysis of Labor Disputes in
           Yangtze River Delta Region

    • Abstract: Publication date:  Apr 2017
      Source:Advances in Economics and Business  Volume  5  Number  4  Xinyi He   and Dangui Li   The incidents of collective labor disputes resonantly occur under some conditions in manufacturing industry of Yangtze River Delta Region (2011-2015). Trigger factors include the transformation and upgrading of industrial structure, the high liquidity of light industry asset, the exploitation of private and foreign companies, the participation of a large number of labors and the depriving of economic interests of the workers. Study found that the labor conflicts occur more often in abnormal production changes of manufacturing than in normal one, more in light industry than heavy one, more in private enterprises than other ones, more in large-scale enterprises than small-scale ones and more for economic requests of participants than for noneconomic ones.
      PubDate: Apr 2017
       
  • Nontraditional Monetary Policy in a Model of Default Risks and Collateral
           in the Absence of Commitment

    • Abstract: Publication date:  Apr 2017
      Source:Advances in Economics and Business  Volume  5  Number  4  Hiroshi Fujiki   We show that a central bank could improve the allocation of resources by delivering the defaulting party's collateral goods to those who consume the most quickly. We base our discussion on Mills and Reed [1]'s repo contract model, which shows that the consumption of the lender will be the same whether the borrower is a productive agent or an unproductive agent. We extend their model by considering shocks to the second period of lenders' lives, which force them to consume within an early stage of the second period of their lives. The shock could make the consumption of lenders vary depending on the timing of transactions in the goods market. We show that a central bank could make the consumption of lenders constant regardless of the timing of transactions in the goods market, and could achieve better resource allocation by using various nontraditional monetary policy tools.
      PubDate: Apr 2017
       
  • Two-sided Absorptive Capacity: Customer Integration in Data-driven
           Environments

    • Abstract: Publication date:  Apr 2017
      Source:Advances in Economics and Business  Volume  5  Number  4  Diana Chernetska   Companies are more and more turning to proactive customer integration and look for efficient ways of customer knowledge management. In case of online interaction, companies generate Big Data which holds the potential for the companies in terms of customer knowledge input. The potential of such data can be unfolded using advanced (predictive) analytics technologies. In order to ensure efficient customer integration in such settings, companies should be able to develop absorptive capacity. We assume that the nature of absorptive capacity in data-driven environments could be challenged, considering the intersection of business and technology perspectives. This study sets a foundation of understanding the peculiarities of absorptive capacity in data-driven environments by applying a qualitative case study approach. The study considers perspectives of both, service companies and analytics providers to avoid one-sided biases. The main result is an integration of empirical findings, their analysis against existing theoretical background and crystallization of a concept of 'two-sided absorptive capacity' which aims to explicate the role of analytics skills while building absorptive capacity in data-driven environments.
      PubDate: Apr 2017
       
  • Corporate Governance and Returns on Investments of Pakistani Listed
           Companies

    • Abstract: Publication date:  Apr 2017
      Source:Advances in Economics and Business  Volume  5  Number  4  Nouman Afgan   Klaus Gugler   and Robert M. Kunst   This paper analyzes the effects of corporate governance institutions on investment returns of Pakistani listed companies. A marginal q is used to estimate returns on investments from cash flows, debt, and equity. Return on total investment is 31% lower than the cost of capital, which suggests that largest shareholders or managers invest beyond the optimal investment level that maximizes the wealth of shareholders. Return on reinvested cash flow is 30% lower than the cost of capital. There is evidence of our hypothesis that largest shareholders or managers exercise discretion while reinvesting cash flows. Return on investment financed from debt is lower than the cost of capital as financial institutions are faced with asymmetric information while analyzing creditworthiness of investments. The analysis provides evidence of market discipline on investments financed from debt by companies whose ultimate shareholders are foreign entities. Corporate governance institutions are unable to control managers of foreign-owned companies from issuing equity to finance investments with returns lower than the costs of capital. Financial market development is retarded because outside shareholders are reluctant to invest in equities and financial institutions are wary of financing borrowers. The weak corporate governance system is unable to properly protect financial institutions from loan delinquencies.
      PubDate: Apr 2017
       
  • SME Internationalization: Investigating Antecedents and the Effect of
           Organizational Capabilities on Strategy in the German MedTech Industry

    • Abstract: Publication date:  Apr 2017
      Source:Advances in Economics and Business  Volume  5  Number  4  Gunther Heiß   This paper is focusing on SME internationalization and investigates the antecedents and the effects of organizational capabilities on strategy in the German MedTech industry. However, the impact of existing research in this field is relatively poor and is not yet applicable in other countries or industries. As a consequence, a systematic review of the literature has been conducted. The results have shown heterogeneous research results in the field of strategy and capabilities and the need for further research in this context. In a focus group discussion antecedents as well as the most important factors related to strategy were emphasized and further important aspects that focus on capabilities were revealed. Overall, the review indicates an initial conceptual model, in which significant findings could be identified. During the focus group discussion subject matter experts refined them in a country-, industry- or firm-specific way. The results will serve as a strategic input for SME's in the German MedTech industry.
      PubDate: Apr 2017
       
  • Clustering of Small Businesses - New Opportunities to Improve the
           Competitiveness of Latvia

    • Abstract: Publication date:  Sep 2016
      Source:Advances in Economics and Business  Volume  4  Number  9  Svetlana Stradinya   and L. Beinerte   The article presents the study of life span of small and medium business in Latvia. Investments that come from EU funds show little help for little and microbusinesses. Private business can't withstand the market forces, changing economic and political realities. To survive, he must embark on way of clustering, which is adaptable and resistant to change. The process of clustering is shown of small and medium-sized businesses, the existing problems and the need of support from the state.
      PubDate: Sep 2016
       
  • How the Solow Growth Model Changes with Effective Use of Natural Resources

    • Abstract: Publication date:  Sep 2016
      Source:Advances in Economics and Business  Volume  4  Number  9  Kristína Gardoňová   There are many extensions of the Solow model. We took one of the most recent ones that deals with the environment - Romer's model with environmental aspects, in which he discusses the effects of land and natural resources' limitations on economic growth. Furthermore, we took the theoretical knowledge of Weil, who says that the drag caused by the limited amount of natural resources can be outweighed by the spur created by technological progress with the help of substitution of more expensive production factors with cheaper, less valuable, ones. In this paper we put these two thoughts together, creating a model based on Romer's analysis with inclusion of a new parameter - effective use of natural resources that grows at a rate of technological progress. We show that theoretical results of the Solow model still hold, however we provide a better explanation of the factors that limit or reinforce the economic growth.
      PubDate: Sep 2016
       
  • Urbanization, Exports and Development of Provinces in Turkey: What Can
           Government Do?

    • Abstract: Publication date:  Sep 2016
      Source:Advances in Economics and Business  Volume  4  Number  9  Hale Akbulut   Although there seems to be a positive relationship between urbanization levels and development levels in terms of provinces in Turkey, this relationship is not clear. This paper suggests that in the cities with high export volumes, the positive relationship between urbanization and economic development is clearer. The aim of this study may be summarized as an attempt to explain the development in provinces in Turkey in terms of exports and to suggest fiscal policies in order encourage development. For that purpose, the dominant export sectors in provinces are examined, and expectations about their future development are discussed. It is observed that the dominant export sectors are freer from their locations in more developed provinces. In order to promote production and exports in less advantaged regions, government may choose to increase public investment directly or private investment by using different fiscal instruments such as tax exceptions and tax allowances.
      PubDate: Sep 2016
       
  • The Determination of Chinese Graduate Entrepreneurship in Australia

    • Abstract: Publication date:  Sep 2016
      Source:Advances in Economics and Business  Volume  4  Number  9  Bingying Wei   This paper examines what factors determine Chinese graduate entrepreneurship in Australia, such as individual characteristics, entrepreneurial motivations, and environment and opportunities. The qualitative research approach was utilized to interview three Chinese entrepreneurs who started their businesses after graduation in Australia. The results indicate that personal characteristics, motivations and environmental opportunities contribute to Chinese graduate entrepreneurship in Australia. Work experience and social skills are essential individual characteristics in Chinese graduates' entrepreneurial activities. Motivations such as difficulties in finding employment and permanent residency significantly contribute to their entrepreneurship. Environments like family background and market demands give entrepreneurs opportunities to participate in entrepreneurial activities. The study recommends that individuals should develop their abilities in order to become entrepreneurs, the government should make positive policies to graduates' entrepreneurship, and the universities should encourage students by adopting more practical entrepreneurship programs.
      PubDate: Sep 2016
       
  • Determinants of Foreign Direct Investment (FDI) in Agriculture Sector
           based on Selected High-income Developing Economies in OIC Countries: An
           Empirical Study on the Provincial Panel Data by Using Stata, 2003-2012

    • Abstract: Publication date:  Sep 2016
      Source:Advances in Economics and Business  Volume  4  Number  9  Intan Maizura Abdul Rashid   Nor'aznin Abu Bakar   and Nor Azam Abdul Razak   This research endeavours to set out to empirically examine the determinants of Foreign Direct Investment (FDI) in Agriculture Sector based on selected high-income developing economies in OIC countries. The agriculture sectors react as important keys in the expansion of any economy growth to eliminate the poverty issues. Therefore, it reviews the experiences of agriculture investment in selected member countries with a view to identify potential roles for countries seeking FDI and their development partners in nurturing FDI intra OIC especially in the agriculture new investment. In this study, the FDI in Agriculture Sector react as dependent variable and the independent variable economic determinant, list of market size, inflation, poverty, exchange rate and infrastructure in selected OIC Countries (Malaysia, Oman and Brunei).
      PubDate: Sep 2016
       
  • Analysis and Practical Applications of University-industry Research
           Collaborations

    • Abstract: Publication date:  Oct 2016
      Source:Advances in Economics and Business  Volume  4  Number  10  Kazumasa Kawasaki   University-industry research collaborations (UIRCs) have been recognized as an important factor of the production of innovation. In practice, however, the cases of the practical applications of UIRCs are not so many and there are a lot of problems in the UIRCs. In this paper, first the UIRCs conducted in Niigata University that is located in one of the regional areas are analyzed based on joint research projects and are clarified by company locations in order to clarify the characteristics of UIRCs in regional area of Japan. Moreover, the five cases of practical applications are extracted from the joint research projects with companies inside the prefecture and the cases of the practical applications are classified. These cases are discussed from the viewpoint of technologies and markets. Consequently, the product group and business direction for the analysis of the market was confirmed and was codified.
      PubDate: Oct 2016
       
  • Structural Transformation in Central and Eastern European Countries'
           Agriculture: Convergence or Divergence?

    • Abstract: Publication date:  Oct 2016
      Source:Advances in Economics and Business  Volume  4  Number  10  Imre Fertő   The paper investigates the structural transformation of agriculture in Central and Eastern European countries using macro data in period between 1990 and 2011. The role of agriculture in total employment and GDP and the share of food expenditure have declined all analysed countries period in question. Our results indicate that despite of common trend the initial differences between countries have remained among countries. The findings of panel unit root tests do not confirm the convergence hypothesis in agricultural structural transformation of the region. The structural transformation does not follow common path in these countries. Our estimations also reinforces that the convergence analysis require careful application of various panel unit root tests.
      PubDate: Oct 2016
       
  • "Industrial Demography"

    • Abstract: Publication date:  Oct 2016
      Source:Advances in Economics and Business  Volume  4  Number  10  Sormas Asterios   Market turnover includes two interrelating procedures, playing a very important role in the industrial organization: firm entry and exit of the market. The question what favors and what prohibits a firm to enter the market place and the relationship between its entry and exit, are in the scope of industrial dynamics. An approach of firms' entries and exits in an industrial market, can be seen under the prism of the life cycle of a product. The innovations and the technical changes are very important factors, driving a firm to make the decision either to enter or exit the market .In this paper we will examine the theories involving the market entries and exits of the firms. Also, we will analyze the nature and the components of the entry and exit barriers. The market looks like a football pitch surrounded by complex and different size gates. Firms intending to enter or exit the market have to leap over these gates. In a way, the gates can act as a barrier, increasing or decreasing in height, not for the firms in on the pitch, but for those outside intending to enter. According to the theory, the factor influencing the entry is the market structure, while the exit is influenced by the industrial development. Firms' entries and exits are characterized by asymmetry and interrelation, creating in a way the revolving door phenomenon, where someone enters and somebody else exits, because every entry includes an exit in a future moment. The existence of barriers is leading firms to develop entry or exit strategies. There are models based on game theory, on the technological situation in the market and on the fact the firm has one or more plants.
      PubDate: Oct 2016
       
  • Graduate Employability: A Gap between Perspectives - the Case of Croatia

    • Abstract: Publication date:  Oct 2016
      Source:Advances in Economics and Business  Volume  4  Number  10  Ljerka Sedlan Kőnig   Petra Mezulić Juric   and Tihana Koprivnjak   Awareness of the importance of higher education (HE) in the transition to a knowledge-based society is growing in Croatia and universities are increasingly required to produce employable graduates who have attributes, capabilities, knowledge and skills to work successfully, and are able to respond to the changing and complex needs of the labor market. This paper seeks to investigate and compare the importance of skills and attributes which enhance graduate employability, as well as their reception through higher education, from the perspective of employers, university teachers and senior students. The research has shown that students, university teachers and employers have a significantly different view regarding knowledge, skills and attributes important for employment, and the contribution of university teaching to the development of these skills, knowledge and attributes. In April 2015 a total of 340 surveys were collected (230 from senior students, 30 teachers at the Faculty of Economics in Osijek, and 80 employers from the region filled in the questionnaire). In analyzing data descriptive statistics and hypotheses testing are given. Mann-Whitney test is used to test the difference between two distributions, and Kruskal-Wallis ANOVA between three distributions.
      PubDate: Oct 2016
       
  • An Exploratory Research of the Potential Strategic Benefits of
           

    • Abstract: Publication date:  Oct 2016
      Source:Advances in Economics and Business  Volume  4  Number  10  Federico Topolansky Barbe   Magdalena Gonzalez Triay   and Andrea Fujarczuc   The main purpose of this paper is to evaluate the current business strategy of the Niagara wine region and to explore the potential of the Niagara wine region to specialise in Riesling grape variety. Questionnaires were administered to a range of different types of experts with a specialty in wine. Quantitative data from the Liquor Control Board of Ontario supplemented the core interviews. The results of this study indicate that differentiation through specialisation is the best strategy to develop the Niagara wine region. However, the structure of the wine industry encourages wineries to produce a vast array of grape varieties to cater to the needs of the domestic market. This has resulted in a loss of identity for the region. Though because Niagara Riesling is differentiable, world class, the most consistently awarded grape and unreproducible elsewhere, it is the prime candidate to become the representative grape for the region. By developing the Niagara style of Riesling and focusing on exporting small amounts of the variety, the region would benefit by developing an identity and increasing consumer confidence and sales.
      PubDate: Oct 2016
       
  • The Dynamic Nature of Competitive Advantage of the Firm

    • Abstract: Publication date:  Nov 2016
      Source:Advances in Economics and Business  Volume  4  Number  11  Lilla Hortovanyi   Trade through tougher competition expels less efficient forms from the market. As Rita G. McGrath [1] put it forward, in today's business environment the competitive advantage often evaporates in less than a year. While this seems to be devastating, in fact this is an opportunity for new comers. Twenty-five leading companies across various sectors were analyzed in-depth, drawing on more than 100 interviews with managers and knowledge workers. The study found that dynamic comparative advantage is the ultimate source of sustainable competitive advantage and investment into both high productivity and high absorptive capacity is required.
      PubDate: Nov 2016
       
  • Practical Usability Problems in Business Economics

    • Abstract: Publication date:  Nov 2016
      Source:Advances in Economics and Business  Volume  4  Number  11  Illés Mária   The practical usability of research results is a special advisory function of business economics. Of great importance is in teaching the science-based business knowledge as well. The paper presents the main problems related to practical usability of business economics summarizing more than four decades of research results of the author on this aspect. The examined disciplinary problems are the questions of terminology, some mechanical takeovers from microeconomic topics, some financial decision-making recommendations based on so methodology which does not fit for actual practice, and finally scientifically unresolved issues originating within business economics. Among the latter are: some unclear relations of profitability indicators, product ranking by contribution margin ratios, problematic return requirement sharing for products by cost or price proportions, cost-related cross-sectional analysis and some methodological problems of project evaluation. Clarifying these questions is fundamental for professional education. This is also important for business economists and in particular small and medium-sized enterprises, since their opportunities for in-depth methodological research are very limited.
      PubDate: Nov 2016
       
  • Insights from Science into Business and Economics: Roadmap to a Fiasco
           Prevention Theory

    • Abstract: Publication date:  Nov 2016
      Source:Advances in Economics and Business  Volume  4  Number  11  Thang N. Nguyen   The purpose of this initial work is to explore insights from science into business and economics for a road map to a prevention theory on corporate fiasco, market turmoil and economic crisis. First, we use as scope the natural continuum, which encompasses particles, protoplasm, cell, organism (e.g. human), community (institution), ecosystem (market), biosphere (economy) and transcendental systems. This scope would guarantee a solution to any problem within it. Second, the primary focus is on the human component since human is the most intelligent of all organisms. Human has the highest ability to think and make decisions driving institution, market and economy (psychology). Third, as part of the natural continuum, the four components in italic would obey the laws of nature, as do the other components. These laws range from Newton gravitational laws to Einstein's relativity. While institution, market and economics can be considered as physical mass, human decisions can be viewed as force moving them from one situation to the next. Decisions can also energize them (physics). Fourth, insights from one known component into another can be drawn by analogy such as a disease in humans is analogous to a fiasco in institutions in terms of hidden signs and symptoms (biology). Fifth, one component is the extension of the lower component, e.g. market is an extension of institution, allowing homeomorphism to be identified (topology). Finally, decisions can be emotion-driven. Thus, insights from neurological and psychological processes in human brain and mind into business decisions can help understand them (neuroeconomics).
      PubDate: Nov 2016
       
  • The Determinants of the Foreign Banks' Expansion in South Eastern Europe:
           Do Greek Banks Still Follow Their Customers Abroad or Not?

    • Abstract: Publication date:  Nov 2016
      Source:Advances in Economics and Business  Volume  4  Number  11  Stefanos Fotopoulos   Fotios Siokis   and Harry Papapanagos   The paper deals with the factors that led to the great penetration of Greek banking sector in South Eastern Europe during 2000-2007. We investigate the validity of the follow the customer hypothesis. Based on the eclectic theory, after controlling for ownership advantages, we found that host country conditions, opportunities in the host financial markets and risk conditions are proved to be significant determinants. Our findings indicate that although follow the customer hypothesis does exist, the utilization of location advantages can better explain Greek banks' expansion.
      PubDate: Nov 2016
       
  • Public Debt and Economic Growth in Tunisia: A Re-examination

    • Abstract: Publication date:  Nov 2016
      Source:Advances in Economics and Business  Volume  4  Number  11  Riadh Brini   Hatem Jemmali   and Arafet Ferroukh   The aim of this paper is to examine the impact of public debt on economic growth in Tunisia over a period spanning around two decades (1990-2013). Using the Autoregressive distributed lag model (ARDL), the paper traces a long run equilibrium between public debt and economic growth. Besides, we used the Granger causality test to examine the direction of causality among various variables. The results show that public debt and total debt service have a negative and significant effect on economic growth in the long run. In the short and long run there is a unidirectional Granger causality between public debt and economic growth. We also find that there is a bidirectional Granger causality between total debt service and economic growth in the long run. While, there is no evidence of short run causality.
      PubDate: Nov 2016
       
  • Conceptual Approaches to Formation and Development of the Collaborative
           Model of the National Innovation System of Latvia

    • Abstract: Publication date:  Nov 2016
      Source:Advances in Economics and Business  Volume  4  Number  11  Mg. Oec. Konstantins Savenkovs   The modern development of the country is impossible without widespread implementation of innovations, so it is time to take a fresh look at the development of the economy as a whole, because we are talking about the system transition, or rather about changing the system paradigm. Such a change involves the formation of a new model of the national innovation system, namely the creation of advanced technology using human capital and science, their commercialization through the introduction in the production of dynamic regional companies and industries in a symbiotic relationship with the state. The new paradigm of economic development implies the need to build a national innovation system, which, in turn, provides an overall cost savings, changes in the structure and growth of the economic system as a whole (or parts thereof), in the medium and long term perspective. In this case, the requirement of time - a new network model of innovation that created different communities parties entering into a relationship of collaboration and forming a specific ecosystem (collaborative innovation networks). Increased plasticity of national innovation systems is intended to give them the ability to self-development on the basis of continuous updates, to make economic growth innovation-oriented, and the country more competitive.
      PubDate: Nov 2016
       
  • An Analysis of Perception and Uptake of Insurance Products among
           Medium-low Income Earners in Kenya

    • Abstract: Publication date:  Nov 2016
      Source:Advances in Economics and Business  Volume  4  Number  11  Charles Okeyo Owuor   Although the insurance industry in Kenya has been growing in investment, there have been fundamental challenges in the number of new clients being recruited thus low penetration levels have been reported. The fast market growth notwithstanding, penetration rates remain low, at just 3% of GDP in 2013, 2014 and 2015 is still far below other developing economies. The high level of growth along low levels of penetration could lead the Kenyan insurance industry in crises in the near future. Therefore it is necessary to investigate into the trends in insurance uptake and the contributing factors. This study was designed to analyze perception and uptake of insurance products among medium-low income earners in Kenya on the basis that insurance penetration in Kenya is severely limited, which could have been as a result of the insured perception. The study was conducted using the explanatory research design. Primary data was collected using questionnaires administered to teachers using the drop and pick method. Quantitative data analysis was done using multiple response analysis techniques, mean, mode, standard deviation, percentages and frequencies. The study found out that perceptions on insurance played a key role in insurance uptake as the industry was marred by negative perceptions among potential customers hence low penetration. It is recommended that further research be conducted to evaluate customer experiences arising from insurance clients following the view held by majority insurance holders that they would not purchase insurance in the future.
      PubDate: Nov 2016
       
  • Entrepreneurship and "Clusterization Process" in the Tourism and
           Agriculture Sector

    • Abstract: Publication date:  Nov 2016
      Source:Advances in Economics and Business  Volume  4  Number  11  Ilan Bijaoui   and David Regev   Our research is focused on two main and related issues: evaluate whether the required entrepreneurial capabilities are present in the region, and how the open incubator model, a hybrid model between the Incubator and Industrial District models, must proceed in order to generate a "clusterization process." The three of the McClelland entrepreneurial levels are ready to invest in their own businesses and to cooperate with other businesses. The need for power level is even ready to seek external sources of financing. Connectors are strongly entrepreneurial, ready to take risks, and to follow new trends in business. Mavens are not ready to share their business knowhow with other businesses within the framework of a common organization. Salesmen belong to the family care entrepreneurial level and are ready to take risks in order to improve entrepreneurship in family businesses.
      PubDate: Nov 2016
       
  • Business Tourist Segment: Empirical Analysis in Spain about the Influence
           of Social Media and Smartphone in Reservations for Hotels

    • Abstract: Publication date:  May 2016
      Source:Advances in Economics and Business  Volume  4  Number  5  Joan-Francesc Fondevila-Gascón   Gaspar Berbel   Mònica Muñoz-González   Pedro Mir-Bernal   Elena Puiggròs   Javier Sierra-Sánchez   Marta Tena-León   Eva Santana-López   Josep Rom-Rodríguez   and Enric Ordeix-Rigo   Smartphones and social media influence the decision to buy tourism goods, especially in the case of business. Specifically, we show that smartphone bookings made by business tourists coming to Barcelona are increasingly popular. Methodologically, we devised a quantitative questionnaire. Data collection was carried out for 4 months in 2015 with n=1512. We conducted a sieve with inclusion and exclusion criteria and which discarded all participants who did not travel for business. The final sample was 494 participants. We conclude that social media (Booking, TripAdvisor, Facebook, Twitter, Instagram and Foursquare) are used by youngers because people have known they belong to social network. Users consider the information provided by the companies in social media reliable. The most used means for contacting the accommodation are phone and email. The more useful apps are the hotels apps.
      PubDate: May 2016
       
  • Brand Commitment to Football Teams: A Multidimensional Scale

    • Abstract: Publication date:  May 2016
      Source:Advances in Economics and Business  Volume  4  Number  5  Avichai Shuv-Ami   This paper presents a multidimensional scale for measuring brand commitment to football teams. Compared to previous research that used unidimensional measures, this multidimensional scale offers a better means of understanding fan behavior through the four constructs composing it – loyalty, involvement, satisfaction and performance. The scale was tested using three separate empirical survey studies and was found to be highly valid and reliable. These tests employed exploratory factor analysis (EFA), confirmatory factor analysis (CFA) and nomological network analysis. Football fan brand commitment was found to be highly correlated to attitudes toward the sport team, recommendation, purchase intentions, price premium and how fans identified with their football team.
      PubDate: May 2016
       
  • The Clustering Process in Latvia and Existing Problems

    • Abstract: Publication date:  May 2016
      Source:Advances in Economics and Business  Volume  4  Number  5  Elena Zaitseva   Clustering in many countries contributes to the economic development of the states. But the clustering process, as well as its policy has its disadvantages which form the level of economic success of the state. Small EU countries, such as Latvia are particularly subjected to the negative subsequences of carried out economic reforms that makes more thoroughly to study the negative factors of clustering process.
      PubDate: May 2016
       
  • Impact of Inflation and Unemployment on Economic Growth in Ten (10)
           Selected Member's States of Economic Community of West Africa States
           (ECOWAS) (2001-2014)

    • Abstract: Publication date:  May 2016
      Source:Advances in Economics and Business  Volume  4  Number  5  Gylych Jelilov   Olanrewaju Joseph Obasa   and Abdurahman Isik   The study set three major objectives which include determine the relationship between economic growth, inflation and unemployment, analyses the effects of inflation in ten (10) selected members of ECOWAS and assess the effects of unemployment in the selected members states. Secondary data obtained from the Member's State National Statistics offices was used for the paper. The study used a model in which inflation and unemployment were the dependent variable and independent variables. The analytical technique used includes Ordinary least square (OLS) technique, F-test. The paper showed that monetary and fiscal policy were effective in the control of the inflation and unemployment since the coefficient of determination (R2 =0.50 or 50% was significant. This was re-confirmed by the F-test value (4.91). The paper recommends a policy redirection to improve output in the ten (10) selected member's states; this will occur by making efforts to increase productivity, which will lead to reduction in unemployment and inflation. To curb the surging rate of unemployment, efforts must be put in place to achieve a labour intensive method of production instead of concentrating on the capital intensive method which will take away jobs that individuals can do. Furthermore, there must be concrete efforts to ensure that the porous borders in the ten (10) selected members states are well managed to increase volume of economic activities among the members' States, which is very pivotal for the reduction of unemployment and inflation; thereby improving the level of local production.
      PubDate: May 2016
       
  • Economic Indicators in United Arab Emirates: Assessing the Sustainability
           of the Country's Economic Performance

    • Abstract: Publication date:  May 2016
      Source:Advances in Economics and Business  Volume  4  Number  5  Ghassan Ossman   The study determines the influence of indicators of economic growth in the United Arab Emirates to assess the sustainability of the country's economic performance. It focuses on three economic indicators; rates of unemployment, inflation, and population growth and their influence on the UAE economic performance sustainability, and determines how strongly these three variables can predict such sustainability. The study identifies both a significant difference in the level of UAE economic performance in the past ten years and the long-run, as well as the independence of economic indicators from sustainability of economic performance of the nation. Findings of the study show that decline in inflation rates of the national economy fosters financial stability and inflation rates remained low within acceptable levels in the previous years and will continue to maintain stability in the next future period, five to ten years. The country is projected to witness population growth as the nation becomes a preferred destination for living, promising job opportunities, and local and foreign investments. UAE economy is experiencing growth in economic performance and expected to maintain stability in the coming years with the government efforts to achieve long-term development objectives for year 2021. Stability remains the hallmark of the nation economic activity with a continuous focus on infrastructure projects as growth of various industries, improvements in real estate industry, tourism, and rising growth in economic performance will allow UAE to achieve sustainability in economic performance. Correlation analysis reveals that the variable of unemployment rates has no significant influence on economic performance sustainability which implies that, for the last ten years, the country experienced economic growth and was not influenced by variations in unemployment levels. Similarly, the variable of inflation rates shows no significant influence on economic performance at both 5% and 10% significance level which implies that, for the last ten years, the country experienced economic growth and was not influenced by variations in inflation rates in the country. T-test shows significant relationship between population growth rates and economic performance sustainability at 5% level of significance, a change in the level of population growth will lead to changes in the level of economic performance sustainability. The correlation coefficient of -0.631 reveals high negative correlation between population growth and economic performance sustainability which indicates that increases in population growth over the last ten years in the country, has led to decreases in economic performance sustainability. The T-test analysis for significant difference of UAE economic performance in the last ten years and over the long-run result in acceptance of the null hypothesis indicates that the two periods are just the same. The rising trend of UAE economic performance in the past ten years will continue over the long-run. Economic indicators variables; unemployment, inflation, and population growth rates are positively related and strong predictors of economic performance sustainability. Chi-Square Test of Independence results in acceptance of null hypothesis. Economic indicators and sustainability of economic performance are not independent of each other which implies that changes in the rates of economic indicators variables of unemployment, inflation, and population growth will cause a change in the sustainability of economic performance. Recommendations of the study include the conduct of further studies focusing on variables not included in the study that are likely to influence the level of economic performance, monitor the level of population growth which is significantly correlated with economic performance, develop other economic models that will determine an increase in a nation's economic performance and achieve sustainability in the long-run, and the formulation of economic policies and strategies to overcome significant long-term challenges on oil dependence, growing expatriate workforce, and inflationary pressures.
      PubDate: May 2016
       
  • The Evaluation of Customer Satisfaction with the Third Party Logistics
           Service Quality for Online Shopping

    • Abstract: Publication date:  May 2016
      Source:Advances in Economics and Business  Volume  4  Number  5  Hongzhang Chen   and Yawei Qi   Low logistics service quality is a key factor restricting the development of e-commerce. In order to improve customer satisfaction, this paper establishes an index system to evaluate customer satisfaction with the third party logistics service quality, and design the questionnaire according to the evaluation index. With the original data, we construct four quadrants with the dimensions of satisfaction and importance to analyze the reliability and validity of third-party logistics service. The results show that logistics service speed is the most important determinant of customer satisfaction and that the importance of risk perception is the lowest. Moreover, the accuracy of a service rate is satisfied at the highest level and the integrity of goods is satisfied at the lowest degree. This paper contributes by designing the specific measures and uncovering the determinants to improve the satisfaction of logistics service for online shopping.
      PubDate: May 2016
       
  • Creating a Culture of Risk in Greece Amidst the Economic Crisis: A Brief
           Retrospect on "Ice Age"

    • Abstract: Publication date:  Mar 2016
      Source:Advances in Economics and Business  Volume  4  Number  3  Iordanis Eleftheriadis   and Vasilios Vyttas   The recent financial crises in America and Europe have shown emphatically that the findings of the relevant risk management literature concluding that lurking risks can be converted into opportunities have unfortunately not informed policy. The assumption of the risk as a burden, often leads economies to crises that undermine the development and prosperity of states and citizens. In this context, this article aims at highlighting risk characteristics and presentation of basic management principles which should govern the operation of public service organizations. Based on literature review of the economic facts of the 2008-2015 period in Greece, the fact that emerges is that effective risk management is a necessary condition for the survival of public organizations in today's global environment.
      PubDate: Mar 2016
       
  • Indonesian Consumers' Attitudes towards Organic Products

    • Abstract: Publication date:  Mar 2016
      Source:Advances in Economics and Business  Volume  4  Number  3  Budi Suharjo   Muchlis Ahmady   and Mohammad Reza Ahmady   The increased public awareness of health in recent decades was expected to have positive impact on the increase in demand for organic food products. It is because these products are produced using natural farming system, which produces healthier and safer foods for consumption. But over time, the number of consumers of organic products in Indonesia tends to stagnate. This means that the initial assumption stating that there would be growing demand for organic products was not fully proven. Many researchers have revealed these conditions, where price is one of the crucial factors that inhibit the acquisition. This research aims to uncover other factors that influence consumers’ attitudes towards organic food products, as well as to discover the price level at which people are starting to willingly buy the products. This research was conducted in several shopping malls located in Jakarta and Bogor (West Java) from February 2012 - March 2012, covering 200 respondents who were surveyed by accidental sampling technique. The low growth of consumers for organic food products in Indonesia is caused partly by the still minimal information about the benefits of organic food products. Most people have the perception that the benefits of organic products are not different from non-organic food products and organic products are not durable. Physically, it is difficult to distinguish between organic products and non-organic products. Those who had consumed them stated that the benefits of organic products could not be perceived directly. People who are interested to consume them regularly experience difficulties in getting the products because the products are only sold in certain places, and they are not even always available at any given time. In addition, high prices become obstacles for those who are willing to consume regularly. In addition, high prices become obstacles for those who are willing to consume regularly. The price difference of up to 5% compared to conventional products is the price level considered reasonable by all consumers. While the difference up to 10%, then 80% of consumers are still willing to buy. But if the price is more expensive by 20%, only 50% of consumers who can afford to buy.
      PubDate: Mar 2016
       
  • Russo-Ukrainian Gas War: The Lack of a Common Strategy Jeopardizes
           European Unity

    • Abstract: Publication date:  Mar 2016
      Source:Advances in Economics and Business  Volume  4  Number  3  Michele Pigliucci   Despite low attention level in Western media, Ukrainian crisis is not just a local issue, and it is going to jeopardize European integration process due to geopolitical key position of Ukraine in natural gas delivery system. In facts, besides military race, carrying real dangers, a parallel gas war is staging in Ukraine, where U.S.A. – new hydrocarbon exporter thanks to 'shale revolution' – is trying to break the Russian monopoly on Europe, by opening new energetic supply routes, in order to prevent Russia to use this strategic tool to control Europe countries. However, the low price of oil barrel is going to jeopardize U.S.A. plans. In the meantime, Ukraine is close to default due to debt crisis. The decrease of domestic production of energy – caused by political and geopolitical reason related to civil war and annexation of Crimea to Russia – worsens the crisis and prevent Ukraine to free from energetic dependence from Russia, a Moscow's tool to influence internal situation. Russia is trying to overcome Ukrainian bottleneck by opening new routes for Europe, in order to keep monopoly in energetic European marketplace avoiding access of U.S.A. shale gas. In this scenario, the main problem for Europe is the lack of a common strategy: divided in Russian-friendly countries, anti-Russian and 'lone wolves', European countries pursue their own energetic policies, weakening European Union and threating to bring Europe to a new division in spheres of influence.
      PubDate: Mar 2016
       
  • Decoupling Elasticity Analysis on Low Carbon Agriculture in Shanghai

    • Abstract: Publication date:  Mar 2016
      Source:Advances in Economics and Business  Volume  4  Number  3  Zhenyu Zhang   This paper discusses the potential of emission abatement in Shanghai in order to achieve low-carbon agriculture in suburbs. The total agricultural carbon emissions (hereinafter to be referred as agro-emission), net agro-emissions, taking into consideration of agricultural activity's contribution to absorb emission, and per capita agro-emission in 2013 are calculated to demonstrate the distribution of emissions cross nine suburbs in Shanghai. The calculation results suggest that suburbs of Pudong, Chongming and Fengxian are the focus for reducing the total agro-emission and net agro-emission, while Fengxian, Jinshan and Songjiang are the top three suburbs need to cut back per capita agro-emission. The structure and characteristics of agricultural production for 1993-2013 in Shanghai are discussed to explain the increase in agricultural carbon emission and possible ways for abatement. The decomposition of emission source and structure also implies that improving energy efficiency and reducing the amount of energy consumption will be the direction for further emission abatement in Shanghai agricultural development. The decoupling elasticity is computed for 1994-2013 using 1992 as base year, and agricultural economic development is found to be weakly decoupled with agro-emission growth in Shanghai. Further, an Environmental Kuznet type curve is estimated to examine the shape of relationship between agro-emission growth and agricultural development using software Stata13.0 The data information on agricultural activities in all suburbs of for 1993-2013 have been used for running the regression, and estimation suggests that agro-emission does have inverse-U shape relationship with agricultural development in Shanghai.
      PubDate: Mar 2016
       
  • Match Making, Structural Holes, and Arranged Marriages: The Process of
           Small Multinational Enterprises International Alliance Formation

    • Abstract: Publication date:  Jun 2016
      Source:Advances in Economics and Business  Volume  4  Number  6  Clifford Wymbs   The analysis found that to share in the gains of a globalizing economy, smaller multinational enterprises find surrogates outside their firm, third party enablers, to help bridge informational structural holes and build multi-nodal social networks that link cross-cultural alliances partners. Using a qualitative case study, propositions for future testing were developed that highlight similarities and differences between large and small firms, the role third parties play with small firms, and how these third-party behaviors co-evolve with the alliance partners. Conceptual and practical issues related to the changing role of third parties are identified and discussed.
      PubDate: Jun 2016
       
  • The Impact of Industry Commonality on Post-merger Performance

    • Abstract: Publication date:  Jun 2016
      Source:Advances in Economics and Business  Volume  4  Number  6  Hsuan-Chu Lin   and Yi-Yun Chou   The purpose of this paper is to identify the impact of industry commonality on post-merger performance and further examine whether the acquiring firms have the abnormal returns after mergers and acquisitions which is evidenced by many prior studies. Through the US sample of 3016 observations consisting of 1732 related and 1284 unrelated acquisitions from 1995 to 2009, we find that the abnormal returns of acquisitions during three years are all negative, but the post-performances of related acquisitions is significantly better than those of unrelated acquisitions. Moreover, while insignificant in the first year, the related acquisitions have significantly positive impact on market performances in the second and third years.
      PubDate: Jun 2016
       
  • Economic Evaluation of Climate Change Impacts on Road Transportation in
           Atlantic Canada

    • Abstract: Publication date:  Jun 2016
      Source:Advances in Economics and Business  Volume  4  Number  6  Yuri Yevdokimov   Climate change impacts such as an increase in mean temperature, change in precipitation patterns and sea level rise are affecting regional road transportation network in Atlantic Canada. Those impacts cause direct and indirect economic consequences for the network and regional economy. In our study, we constructed a dynamic computable general equilibrium model (CGEM) to trace these consequences over time. Basic principles of the designed CGEM are discussed and the model's architecture is presented. The model's elements are estimated, and the obtained CGEM is tested with exogenously imposed shocks. The dynamics of regional temperature, precipitation and sea level are analyzed on the basis of comprehensive time series analysis. This dynamics will later be imposed on the designed CGEM as external productivity shocks. Some preliminary cumulative economic consequences are evaluated in monetary terms to obtain benchmarks for the mitigation measures associated with future development of the regional road transportation network.
      PubDate: Jun 2016
       
  • Preferred Leadership Styles, Culture, and Government Fiscal Transparency:
           An International Analysis

    • Abstract: Publication date:  Jun 2016
      Source:Advances in Economics and Business  Volume  4  Number  6  Yaw M. Mensah   and Yanxia Qi   Evidence provided by the GLOBE study (House et al [1]) has shown that different cultures have definite preferences for different leadership styles. This study examines whether the cultural preference for specific leadership styles has implications for the development of transparency in government budgetary reporting. Our results show that the Performance-Oriented and the Autonomous leadership styles are positively associated with greater transparency while the Team-Oriented and Humane leadership styles have a negative relationship. When Lewin's classical leadership styles are introduced, we found that both the Democratic and Autocratic leadership styles were positively associated with budget transparency. In contrast, the Delegative leadership style is found to be negatively associated with budget transparency. One major implication of this study is that the movement towards greater transparency in government budgeting would be facilitated by changes in cultural preferences for certain leadership styles.
      PubDate: Jun 2016
       
  • The Evaluation of Use of Marketing Communications in Enterprises in the
           Field of Informal Education in Latvia

    • Abstract: Publication date:  Jun 2016
      Source:Advances in Economics and Business  Volume  4  Number  6  Maksim Rapoport   This article emphasizes the relevance of use of marketing communications for recognition of the enterprise, operating in the field of informal education, the definition of informal education in Latvia is given, the leading enterprises in the market of informal education are distinguished and characterized, these driving schools are AUTOPRIEKS/CREDO, Fortūna, "Real Proff" The results of marketing researches are represented that have established the leadership among driving schools and an assessment of effectiveness of use of marketing communications has given. The represented analysis has defined marketing communications mix, consisting of 6 promotion tools and has found that it is typical, namely, for the field of informal education in Latvia.
      PubDate: Jun 2016
       
  • Conflict Triggers in International Business Negotiations

    • Abstract: Publication date:  Jul 2016
      Source:Advances in Economics and Business  Volume  4  Number  7  Stefanie Alexa Stadler   Conflict, is – arguably – one of the greatest inhibitors to successful interaction and desirable interactional outcomes. As international business people frequently work in new and/or unfamiliar cultural settings, they rely on social interactions that are almost invariably of an intercultural nature. As such, it is vital for them to learn to manage and navigate communication smoothly and successfully. However, intercultural communication is prone to misunderstandings and miscommunication based on different pragmatic norms and culture-specific communication practices. The consequences in such settings can be costly to the bottom line and irreparable to well-functioning business relationships. Recognizing and responding to potential interactional conflict in a timely and efficient manner is therefore paramount. In this paper, I focus on conflict triggers and conflict markers that indicate irritation, dissent or disagreement before conflict actually arises. A discourse analysis approach of video-recorded business interactions forms the basis for this discussion, in which I will demonstrate cultural differences in the approach to marking and indicating the onset of potential conflict and intercultural competencies conducive of resolving conflict in its early developmental stages.
      PubDate: Jul 2016
       
  • Pay-risk Sensitivity and Bank Performance

    • Abstract: Publication date:  Jul 2016
      Source:Advances in Economics and Business  Volume  4  Number  7  Pei-I Chou   and Chia-Hao Lee   This study investigates the mediation effect of the pay-risk sensitivity of CEOs on the relation between risky investment and bank performance over the sample period of 2000 to 2007. The empirical results of the study show that CEOs of BHCs engage in more private MBSs will increase their pay-risk sensitivity incentives, and then induces the relation between risky investment and bank performance to become negative. These results imply that the pay-risk sensitivity incentives indirectly induce manager to increase his own benefits at the expense of shareholders. Furthermore, we classify CEOs of BHCs as three levels of overconfidence, and find that the pay-risk sensitivity incentive has a mediation effect on the relation between private MBSs and firm performance in excessively overconfident CEOs group, implying that the levels of CEOs confidence should be considered while compensation committee designs a flawless contract for encouraging managers put shareholders' best interests in front of theirs.
      PubDate: Jul 2016
       
  • How Female Executives Affect Firm Performance? A Multi-approach
           Perspective

    • Abstract: Publication date:  Jul 2016
      Source:Advances in Economics and Business  Volume  4  Number  7  Chang-zheng Zhang   Qian Guo   and Xin Mu   In recently years, female executives all over the world have attracted the widespread concern of many scholars, and the relationship between female executives' participation in top executive teams and firm performance is found to be considerably complicated. This paper tries to clarify this relationship by adopting a multi-approach perspective. It finds that resource dependency theory, catfish effect theory and stakeholder theory regard female executives as the facilitators of improving firm performance; feminism theory and vase theory indicate that female executives would contribute less than their male peers; upper echelon theory demonstrates a contingent effect instead of a fixed effect as considering female executives' effect on firm performance; assimilation theory argues that effect of female executives on firm performance has no difference with that of male executives; principal-agent theory, social capital theory and human capital theory all simultaneously hold contradictory views of positive effect and negative effect of female executives on firm performance; and social cognition theory argues that female executives' effect on firm performance is positive or null.
      PubDate: Jul 2016
       
  • The Experiences of the Inter-American Institute for Cooperation on
           Agriculture (IICA) in Supporting Rural Development in the Caribbean Region
           

    • Abstract: Publication date:  Jul 2016
      Source:Advances in Economics and Business  Volume  4  Number  7  Edric Harry   The Inter-American Institute for Cooperation on Agriculture is an International Organization that provides technical support for the development of agriculture and rural life in thirty- four countries in Latin America and the Caribbean, including Trinidad and Tobago. Over the years, there were mixed results in the Institute's programmes, designed to improve the lives and livelihoods of farmers and members of community groups living in rural areas. The degree of success enjoyed in delivering those programmes, and ease with which they were implemented depended, to a large extent, on the nature of problems besetting those communities, and facilitative environment provided at the institutional level. IICA also had favorable experiences in providing support to rural community groups which had requested support for further exploiting opportunities with potential for improving their income earning capacity. The paper, therefore, seeks to identify the nature of the challenges experienced by the IICA Office in providing support to community groups in Trinidad and Tobago and selected countries of the region, and to highlight interventions undertaken for assisting those communities. The paper further outlines conditions, both at the community and institutional levels, which can facilitate the technical cooperation process.
      PubDate: Jul 2016
       
  • The Effects of Crises on Volatility Spillovers between Borsa Istanbul
           Sector Indexes

    • Abstract: Publication date:  Jul 2016
      Source:Advances in Economics and Business  Volume  4  Number  7  Melik Kamışlı   Serap Kamışlı   and Güven Sevil   The crises that occurred in the last century showed that crises can change financial and economic relationships between the regions and countries. But, especially 1998 Asian Crisis put a spotlight on volatility spillovers and contagion effects. After the crisis there has been made studies that analyze contagion effects and changing spillovers between the markets due to the crisis. The volatility spillovers provide information to investors to be used in investment decisions. Especially risk averse investors use this information in diversification and portfolio allocation decisions. But some investors want to invest in specific sectors. So, it will be useful to analyze the relations between sectors. In this context, the purpose of this study is to analyze the volatility spillovers between industrial, services and financial sectors of Turkish stock market Borsa Istanbul, on the basis of 2008 Global Crisis and Greece Debt Crisis. For this purpose we use Hafner and Herwartz causality in variance test (2006). The findings reveal that there are reciprocal volatility spillovers between industrial and financial sectors and unidirectional spillover from services to industrial sector before the 2008 Global Crisis. But there is no spillover between the index returns after the Global Crisis indicating that crises change the volatility linkages between sector index returns. It is also determined there are volatility spillovers from industrial sector to services and financial sectors and from services to financial sector.
      PubDate: Jul 2016
       
  • Stakeholder-based Brand Equity Affecting Marketing Performance

    • Abstract: Publication date:  Jul 2016
      Source:Advances in Economics and Business  Volume  4  Number  7  Rungtiwa Wongprasha   and Vichit U-on   The establishment of the ASEAN Economic Community (AEC) in 2015 is a major milestone in the regional economic integration agenda in ASEAN, offering opportunities in the form of a huge market of US$2.6 trillion and over 622 million people. A vital role of private universities is expected to grow increasingly. Private universities must self-improve for the establishment of the AEC, to keep up with up to date and changing environment. Nowadays, a pattern of Thai private universities has been gradually changed. All stakeholders involved with the private universities may rely on the governmental sector. They should determine policy that supports enhancement towards international educational baseline. Therefore, standardized system of Thai education must be established and compliance. Currently, Private universities compete with each other to succeed drawing a number of incoming students. It is obvious that private universities then rely on stakeholder brand equity in order to differentiate among private universities that lead to brand creation. Building awareness of private universities and association with any stakeholders is crucial for public and private educations as a whole. The objectives of this study were to: 1) identify influencing factors affecting stakeholder-based brand equity for Thai private universities, and 2) review stakeholder-based brand equity affecting marketing performance. Research methodology includes with population and sampling determination which are 10 private universities, along with students, alumni, parents, and graduates of 800 subjects. This research study used multi stage sampling for collecting data from October to December 2015. The response rate was 100 % of 800 questionnaires. For the data analysis, it appeared that the study used structural equation modeling in which the analysis was found that customer relationship management, marketing mix 7'ps, perceived service quality positively affecting stakeholder-based brand equity. It was also reviewed that stakeholder-based brand equity positively affecting marketing performance. Besides that, marketing performance was slightly affected by customer relationship management, marketing mix 7'ps, and perceived service quality that were relevant to determined hypotheses.
      PubDate: Jul 2016
       
  • Examining the Impact of Socio-economic Dimensions of Capitalism on Global
           Security and Sustainable Development: A Strategy for Poverty Eradication
           towards Sustainable Development

    • Abstract: Publication date:  Jul 2016
      Source:Advances in Economics and Business  Volume  4  Number  7  Michael O. Mojekeh   Any decision on sustainable economic development, must address three fundamental questions, which among others include what has been happening to poverty; unemployment and inequality or economic injustice. If all these three variables have declined from high levels, then there has been a period of development in the affected country. A descriptive approach was adopted from secondary source of data. Today we are witnessing a growing precarious economic situation of glaring distortion, disequilibrium and disharmony globally. Neo-liberal capitalism promotes individualism, greed, self-interest, primitive accumulation and economism - (which regard human societies primarily, as economic systems in which financial considerations alone, govern choices and decisions). Other fundamental values, such as faith spirituality, justice, love, compassion, sympathy, empathy and co-operation, are unwittingly neglected. This paper examined and highlighted the impact of socio-economic dimensions of capitalism on sustainable development and proffers avenues for realistic and sustainable socio-economic stability and peace. Cognizance of the above facts, the recommendations among others, are that the economies and societies around the world, should be encouraged to promote and connect economic efficiency with economic ethics and justice. This entails that the curricula of Business Schools, Universities and other Higher Institutions, must contain both the doctrines of capitalist ideology and true human values of morality and spirituality, for the world to enjoy global peace, security and sustainable development. Also, to build an "Economy of Communion" for the "Common Good of all", which signifies not just a clarion call for less inequality but also, for more fairness and economic justice for the ultimate good of all. If the "Economy of Communion" is established and adopted, one would be inclined to believe, that it will go a long way in eradicating "Corporate Greed" and exploitation, which will culminate into discouraging the likes of Occupy the Wall Street Movement" that keeps reverberating all over the world.
      PubDate: Jul 2016
       
  • East Enlargement and New Territorial Structure of European Union: What
           Advantages and Disadvantages for Balkan Countries?

    • Abstract: Publication date:  Jan 2016
      Source:Advances in Economics and Business  Volume  4  Number  1  Giacomo Cavuta   and Dante Di Matteo   In a context just like the today's one it is necessary to give answers to some questions about the future scenarios that lie ahead in the light of the upcoming changes in the territorial structure of the European Union. The east enlargement is the last step of a harmonization process which started several years ago and which will also allow the Balkan countries to join the Community, if the minimum requirements and necessary conditions for membership are respected. At this point, the discussion items are numerous and include all the fundamental sectors of national economies: trade, agriculture, industry, tourism, labor market, social cohesion, environment, research and development, finance; for each of the above mentioned segments there are complexities, advantages and disadvantages that the incoming countries will have to face in order to gain admission into the EU. The aim of the paper is to identify those aspects such that each of the seven countries has or not convenience to take part of the European Community. Through the construction of a standard model that involves the most significant variables, it will be possible to identify what are the Eastern countries that possess the right and favorable conditions for membership.
      PubDate: Jan 2016
       
  • Small and Medium-sized Enterprises – Progress and Impact in National
           Economics of Slovak Republic – Changes of Economic Tools in 2013- 2015
           Period

    • Abstract: Publication date:  Jan 2016
      Source:Advances in Economics and Business  Volume  4  Number  1  Helena Strážovská   After the Velvet Revolution in the former Czechoslovakia in 1989, the economy was faced with a problem of building money- goods relationship in a new way. An important part of the abandonment of a socialist way of economy had become the transition of an ownership in the hands of private sector individuals. Also significant was the return of a property to the former owners of so called ‘restitution.‘ The economic theory monitored and supported this process in particular with the development of a control theory. In addition to the theory, respectively the acceptance of new economic categories, it was necessary to address the organizational aspects of the business sector. Thus in 1993 the Slovak theory began to deal with small and medium- sized enterprises. In 2004, Slovakia entered the European Union, and in 2009 it entered the Eurozone as well. These historical changes had a significant impact on both the theory and economic reality. The Slovak economy and economic theory and the special theory of small and medium-sized businesses took the content of economic categories from developed economies, particularly the USA and the European Union. Research activities in the field of small and medium-sized enterprises began in 1993 and intensified after 2004. In the text of our article, we think about these processes and evaluate the activities and results of small and medium- sized enterprises, seeing those levels of growth.
      PubDate: Jan 2016
       
  • Matera (Basilicata, Southern Italy): A European Model of Reuse,
           Sustainability and Resilience

    • Abstract: Publication date:  Jan 2016
      Source:Advances in Economics and Business  Volume  4  Number  1  Marcello Bernardo   and Francesco De Pascale   Europe is facing a severe crisis: old certainties are crumbling and traditional ways of working are showing signs of profound weakness. The first challenge, perhaps the most important, is to manage an advanced economy to generate not only economic value, but also social justice and environmental quality. The second major issue is to promote the adoption by civil society and institutions of an "ethos" within which citizens could plan, produce and co-create their cities, cultivating a new and more rich democratic awareness. Thirdly, it is about creating a climate of openness that enhances creative problem solving and provide a platform to think, plan and act together, with courage. Matera has what it takes to meet these challenges. Matera's story is told from its streets, its buildings, its monuments. They tell a story of ingenuity and resilience, disgrace and redemption, tinged by a deep sense of shame. The characters in this story are "Sassi", which for over thirty years were left to decay, was a synonym of "national shame" and was the emblem of a southern backwater, in conflict with modernity. The awareness of its inhabitants of their age-old tradition, based on the ability to inhabit inhospitable places, to create a harmonious relationship with territory, has prompted many young people to return to inhabit the "Sassi" and to make them become "World Heritage Site" in 1993. Twenty years later, grandchildren of those brave young people have proposed to community a new victorious challenge: help to make Matera 2019 European Capital of Culture.
      PubDate: Jan 2016
       
  • Germany, Estonia, Lithuania, Latvia: The Comparison of National Innovation
           Systems and the Change in Employment Structures

    • Abstract: Publication date:  Jan 2016
      Source:Advances in Economics and Business  Volume  4  Number  1  Artur Ivlevs   This article represents three points of view on the innovation development: the comparison of National Innovations Systems in Germany, Estonia, Lithuania, Latvia and the Measure the effectiveness of investments in the innovation sector. The third view is the confirmation of the thesis that the investment in the innovation sector changes the employment structures.
      PubDate: Jan 2016
       
  • Achieving Food Safety: A Case Study on Import Food Monitoring of Japan

    • Abstract: Publication date:  Jan 2016
      Source:Advances in Economics and Business  Volume  4  Number  1  Wai Yee Lin   Masahiro Yamao   and Michiko Amano   This study is to examine how a country with a significant amount of import food like Japan achieves food safety. Desktop analysis, correlation analysis and in depth-interview at field surveys were employed. It is found that food legislation and regulatory framework of Japanese import food monitoring system supported and guided the responsibilities of food authority, private inspection and testing agencies and importers. A strong negative correlation is found between consultation at quarantine stations and violations of import food with r value = -0.77.Even though the number of delegated laboratories in 62 foreign countries was 42 times higher than that of the domestic laboratories, they shared only 10% of total testing. Japanese Import food monitoring in export countries revealed less advantage in scope, if compared with the EU's system. Japan chooses not to rely on monitoring of export country solely rather than giving consultation to exporters and importers. The national standard formulation method is based on risk analysis in accordance with internationally accepted norms. It can conclude that Japan's import food monitoring system is streamlined in accordance with global trend. The food authority of Japan takes continuous restructuring with sound national quality infrastructure aimed at protection of consumers against adulterated import food.
      PubDate: Jan 2016
       
  • Does Credit Growth ‘Cause' Current Account Deficits? Evidence
           from Turkey

    • Abstract: Publication date:  Feb 2016
      Source:Advances in Economics and Business  Volume  4  Number  2  Aylin Soydan   The extent of current account deficits in the Turkish economy has reached alarming levels in the past few years. Beside other arguments, one line of debate has recently been put forward by the Central Bank of the Republic of Turkey; it is stated that credit expansion in the economy has been one of the leading reasons behind the large current account deficits. When the annual credit growth reached the level over 30 per cent in 2010, concerns regarding financial and macroeconomic stability were pronounced, and some policy measures were taken by the central bank in order to bring credit growth down to more ‘sustainable' levels, as stated. This study aims to empirically analyse the relationship between current account balances and domestic credit dynamics in the case of Turkey. To this end, the paper employs the ARDL bounds testing methodology and investigates causality implications between domestic credit and external balance variables. The empirical findings of the study suggest Granger causality running from domestic credit growth to external balances.
      PubDate: Feb 2016
       
  • What Works on Economic Growth? Funds Efficiency or Growth
           Opportunities

    • Abstract: Publication date:  Feb 2016
      Source:Advances in Economics and Business  Volume  4  Number  2  Chiou-Rung Chen   Chai-Liang Huang   and Feng-Hueih Huarng   This study investigates the impacts of funds utilization efficiency and growth opportunities on the finance-growth nexus for 49 countries from 1960 to 2004. Results show that the funds utilization efficiency, both of assets and liability allocation efficiency, and growth opportunities are the predominant factors in the finance-growth nexus. Financial intermediaries who utilize funds efficiently and possess fine growth opportunities are capable of accelerating real economic growth. In contrast, financial intermediaries who utilize funds inefficiently and lack fine growth opportunities hinder economic growth. The result implies governments should formulate policies to improve funds utilization efficiency and growth opportunities rather than to just monotonically promote financial development or income levels. Furthermore, the predominance of funds utilization efficiency and growth opportunities in finance-growth nexus is more potent in developing countries than in developed countries. Finally, the results are robust to discontinuity caused by operation of European Monetary Unification (EMU), and to models subsuming stock market measures.
      PubDate: Feb 2016
       
  • Healthcare Expenditure and Economic Growth in Developing Countries

    • Abstract: Publication date:  Feb 2016
      Source:Advances in Economics and Business  Volume  4  Number  2  Serap Bedir   There has been a growing interest in examining the relationship between income and health expenditures. Although there are differences in the economic structure and health expenditures of the countries in the panel, there is a tendency for an increase in both per capita gross domestic product and health expenditures for all. Therefore, a modified version of the Granger (1969) causality test proposed by Toda and Yamamoto (1995), and Dolado and Lütkepohl (1996) was used in emerging markets in Europe and Middle East African and Asian countries over the period from 1995 to 2013. According to the analysis of the results, a two way causality is found for the Czech Republic and Russian Federation. The evidence from the Egypt, Hungary, Korean Republic, South Africa, and the Philippines supports the health view over the income view, while the evidence from Greece, Poland, the United Arab Emirates, China, Indonesia, and the Korean Republic supports the income view over the health view. The empirical results have indicated that income is an important factor in explaining the difference in healthcare expenditures among countries. Therefore, it appears that increases in income level stimulate healthcare expenditures for some of the emerging market economies.
      PubDate: Feb 2016
       
  • Corporate Social Responsibility Disclosure Practices in Papua New Guinea

    • Abstract: Publication date:  Feb 2016
      Source:Advances in Economics and Business  Volume  4  Number  2  Panditha M. N. Bandara   This study examines the Corporate Social Responsibility Disclosures (CSRD) among the companies listed on Port Moresby Stock Exchange (POMSoX), in Papua New Guinea (PNG) analysing annual reports published during the three year period of 2011 - 2013. The study revealed that 60% of the total CRS items expected to disclose by PNG companies have not been disclosed. Further analysis shows that out of the disclosures only 30% are detailed and comprehensive with verifiable and quantifiable evidences whereas other disclosures are loose statements. It was also found that most of the companies place higher emphasis on corporate governance disclosures than other components of Corporate Social Responsibility (CSR). Further, it was found that disclosures in respect of consumer responsibility are poor in all the companies irrespective of the industry type. The findings of the study suggest that company size, profitability, industry type and listing nature influence the level of CSRD in PNG companies. The findings also suggest room for improvement of CRS practices and CRSD in PNG companies if they are encouraged with proper guidance.
      PubDate: Feb 2016
       
  • Core Inflation: The Malaysian Case

    • Abstract: Publication date:  Dec 2016
      Source:Advances in Economics and Business  Volume  4  Number  12  Mohd Helmi Ramlee   and Muhamad Shukri Abdul Rani   Price stability is one of the primary goals of central banks. In assessing price stability, some central banks monitor core inflation rather than headline inflation, as it provides signal about persistent movements in inflation, which is important for the conduct of monetary policy. The objectives of this paper are threefold. First is to highlight the importance of core inflation to monetary policy. Second is to derive estimates of core inflation for Malaysia. Finally, it seeks to evaluate the performance of each measure of core inflation in forecasting headline inflation. We consider a number of measures for core inflation, and note their merits and demerits. Of significance is that each measurement performs differently when used to forecast headline inflation. This alludes to the possibility that some measures of core inflation could act as good predictors of future inflation, while others are best at describing current development.
      PubDate: Dec 2016
       
  • Credit Risk and Lottery-type Stocks: Evidence from Taiwan

    • Abstract: Publication date:  Dec 2016
      Source:Advances in Economics and Business  Volume  4  Number  12  Lu Chia-Wu   This study explores the effect of credit risk on the lottery-type stocks with Taiwan's data during the sample period 2001 to 2010. The lottery-type stocks are identified as the criteria referring to Kumar [1], which have characters of lower stock price, higher idiosyncratic volatility, and higher idiosyncratic skewness. Refer to Merton [2] and Vassalou & Xing [3], a firm's credit risk is proxied by the DLI (default likelihood indicators). The main results show that the lottery-type stocks have higher default probabilities, smaller firm sizes and higher B/M (book to market) ratio comparing to the non-lottery type ones. By adding default likelihood indicator into the Carhart [4] model, the empirical results demonstrate that a firm's credit situation change has significant negative effect on return of equity; lottery-type stocks equity returns are less sensitive to default risk going higher. Furthermore, this research also shows there exists a structure change resulted from the financial tsunami, indicating the investors require more positive excess returns to compensate their risk for holding stocks after 2008 financial crisis.
      PubDate: Dec 2016
       
  • Do Foreign Workers' Positive Contributions to GDP Outweigh the Negative
           Effect of Their Outward Remittances on GDP? A Case Study of Saudi Arabia

    • Abstract: Publication date:  Dec 2016
      Source:Advances in Economics and Business  Volume  4  Number  12  Fayq Al Akayleh   This paper examines the effects of foreign workers' outward remittances on the economic activity of a country that hosts foreign labor by developing a new econometric technique to measure the effect of workers' outward remittances on gross domestic product of the world's largest oil producer, namely Saudi Arabia. Results indicate that outward remittances have negative and significant effects on all types of aggregate demand. The total effect of outward remittances on GDP is, then, negative. The study findings prove that the net effect of non-Saudi workers on GDP is positive for the Saudi GDP.
      PubDate: Dec 2016
       
  • Operating Companies as Collaborative Communities for Emergent Innovation

    • Abstract: Publication date:  Dec 2016
      Source:Advances in Economics and Business  Volume  4  Number  12  Moses Yonggwan Park   Drawing upon an analytical framework, interviews, and a questionnaire survey, this study explores the reasons for necessity to operate companies as collaborative communities for implementing emergent innovation and the ways in which associate-centered leadership facilitates emergent innovation and helps organizations respond to turbulent conditions. Associate-centered leadership is the method, process, or capacity of influencing associates to achieve the group mission and vision by providing a context in which all associates can demonstrate their abilities. Unlike the prevailing leader-centered power model, associate-centered leaders encourage associates to question premises grounded in old experiences, assumptions, and beliefs. Leaders in an associate-centered model create visions and wisdom, serve, facilitate, moderate, make peace, and express thanks.
      PubDate: Dec 2016
       
  • Factors from Underwriter That Influence Initial Return of the Companies
           Doing Initial Public Offerings in Indonesia Stock Exchange in the Period
           of 2004-2011

    • Abstract: Publication date:  Dec 2016
      Source:Advances in Economics and Business  Volume  4  Number  12  Ferry Sugianto   and Liliana Inggrit Wijaya   The objective of this study is to examine whether the underwriter's factors affect the initial return of the companies that were going to do Initial Public Offerings (IPO). This study uses the quantitative approach using Ordinary Least Squares (OLS) method to examine whether the underwriter's factors affect the initial return. The samples of this study are companies which are doing the IPO in Indonesia Stock Exchange in the period of 2004- 2011. This study finds that the underwriter's factors have significant effect for the companies which do IPO, such as prestige, number of syndicate, experience, and oversubscription. But other independent variables like reputation, total assets, age, and price revision have no significant impact to initial return. The paper provides useful information for issuers how to choose good underwriters to avoid underpricing which causes wealth transfer to investors, the underwriters with good prestige, big syndicates, a lot of experiences, and less of doing oversubscription are recommended.
      PubDate: Dec 2016
       
  • Local Community Attitude and Perceptions towards Tourism Conservation
           Policies in Rwanda Case of Volcanoes National Park

    • Abstract: Publication date:  Dec 2016
      Source:Advances in Economics and Business  Volume  4  Number  12  Kalulu Ronald   Tushabe Emmy   and Nsabimana Emmanuel   Volcanoes National Park contains the rich biodiversity that attracts many tourists. Despite being an attractive destination, Volcanoes National Park is facing different threats resulting from human activities including poaching, hunting, bamboo collection, and others although policies to conserve the VNP were set up. It was due to these challenges that the study was conducted to investigate the local community attitude and perception towards conservation policies around the Park. It was based on Nyange Sector in three cells selected as they were around the VNP. These cells included Kabeza, Muhabura, and Ninda. The objectives of the study were; i) to establish the whether the local residents understood well the park conservation policies, ii) to assess the role of local communities in park conservation, iii) to find out the factors deterring conservation policy implementation in VNP. Data were collected from cells contacting 45 respondents selected conveniently. The questionnaire and interview method were used to collect data. The study revealed that most local people understood well and were aware of the existing conservation policies and rules. The most common policies included; punishment to hunters, bush burners, and poachers; increasing the investment and financing (5% revenue sharing policy); developing infrastructure leading to the park; capacity building and human resources motivation; marketing and awareness reinforcement and finally supporting local community small businesses among others. The study found out that local people were somehow satisfied with some policies with exception of setting a wall of separation, and punishment of poachers. The study further revealed that local Residents play a big role in the conservation of VNP and that decision making process in matter of VNP conservation is important to the park managers where they interact and share views with local government in decisions making in terms of VNP conservation. Despite the policies already existing, the implementation of them encounters barriers including but not limited to; excessive forest resources dependency where people still have the mentality of hunting and poaching for meat and collect bamboo for basketry. These result in harming the park and the flora and fauna it shelters. Recommendations mainly focused on the increase of the awareness of conservation policies of Volcanoes National Park as well as putting more conservation policies with the involvement of community leaders and residents.
      PubDate: Dec 2016
       
  • Forecasting Techniques, External Operating Environment and Accuracy of
           Performance Forecasting

    • Abstract: Publication date:  Aug 2016
      Source:Advances in Economics and Business  Volume  4  Number  8  E. W. Chindia   This article explores the influence of the external operating environment (EOE) on the accuracy of performance forecasting (APF) in large manufacturing firms (LMFs) in Kenya. The objective was to assess if any aspects of the EOE influenced measures of APF. APF, in manufacturing operations, is seldom derived accurately. However, since LMFs tend to hire skilled personnel, this survey presumes that these qualified forecasters ensure APF when preparing future budgets. EOE has been known to influence the behavior of operations resulting in either adverse or favorable organizational performance. The study identified EOE factors that impact organizational performance and tested these against measures of APF. Regression analysis was applied using data collected through a structured questionnaire administered among randomly selected LMFs. Results indicated that there was evidence that EOE had an influence on some measures of APF and the established forecasting techniques (FTs), objective, judgmental and combined forecasting.
      PubDate: Aug 2016
       
  • Delisting Risk Analysis: Empirical Evidence from the Thai Listed Companies

    • Abstract: Publication date:  Aug 2016
      Source:Advances in Economics and Business  Volume  4  Number  8  Thitivadee Chaiyawat   and Pornpan Samranruen   Delisting has raised an attention in recent years. This is because delisting may post a negatively direct or indirect impact on shareholders, managers, employees, firms, and other stakeholders. Therefore, the needs to understand the symptoms of financial distress in a company and to be able to predict the firm delisting are crucial. The study global objective is to provide a financial operation analysis of The Stock Exchange of Thailand (SET) delisting and listing firms and to uncover the essential variables and risks which may be helpful in monitoring their corporate governance and financial strength. This study uses logistic regression to predict the delisting and listing status. The data used in this study are drawn from the annual reports filed by SET listed firms in Thailand. The sample consists of SET-listed firms in Thailand operating from 2005 to 2011. Scope of data included in this study is listed firms from all industry groups and all sectors except financials industry group classification structured as banking, finance and securities, and insurance sectors. There are many ratios, representing risks, statistically have an effect on delisting. Risks which are likely to affect firm delisting are liquidity risk, operating efficiency risk, profitability risk, leverage risk, credit risk, and financial insolvency risk. The result shows that net working capital to total asset, debt to equity, and gross profit margin statistically significantly have an impact on a delisting of SET-listed firms. Important variables as mentioned above show that liquidity risk, leverage risk, and profitability risk have crucial impacts on firm delisting. The -2 Log likelihood is equal to 17.322, Cox and Snell R2 is equal to 0.509, and Nagelkerke R2 is equal to 0.896. Logistic regression model above is used to classify the delisting and listing during the year of 2005-2010. The result shows that logistic regression model is able to predict 99.1% correctly classifying listing or surviving firms and 90% correctly classifying delisting firms. In addition, early warning model of logistic regression is able to predict 100% correctly classifying listing or surviving firms and 83.3% correctly classifying delisting firms during their operation in the year of 2011.
      PubDate: Aug 2016
       
  • On the Institutional Roots of Swiss Democracy

    • Abstract: Publication date:  Aug 2016
      Source:Advances in Economics and Business  Volume  4  Number  8  Gkanas Nikitas   and Kyriazis Nicholas   Looking back at the history of Switzerland, we can identify some structural changes in the economic, social and cultural environment, also in the spiritual perceptions and attitudes of citizens. These may constituted the basis for the creation of specific standards and played a crucial role in the political and economic course of the country. In this study we examine how institutions can explain the emergence and establishment of democracy in Switzerland. We investigate various aspects of human activity in Switzerland trend since the beginning of its emergence, in order to use the tool of macro-culture that includes shared values, norms and beliefs that characterize the members of a society. Important aspects in the country's history are opening trade passages, alliances, military tactics and religion. The standards and values spun from the above aspects were transferred gradually to the political field. Finally, it is highlighted that these values contributed decisively in forging a strong polity with robust elements of direct democracy.
      PubDate: Aug 2016
       
  • National Identity as Core Concept for the European Standardization
           Procedure

    • Abstract: Publication date:  Aug 2016
      Source:Advances in Economics and Business  Volume  4  Number  8  Stoica Elena   It is known that the numerical expansion of the population and the diversity within the European Union (EU) change the complexity of the standardisation process. A socio-demographic analysis revealed the items frequently mentioned among the most important sources of European and National identities that have to be considered when standardize services. Another issue of the study is the fact that both the standardization process and the balance between National and European identities are in fact dynamic, changing over time. Starting with this paper, we can later explain how the globalization of economies influences the notion of National identity.
      PubDate: Aug 2016
       
  • Development Financial Institutions: Impact Investing Practices in
           Scandinavian Context

    • Abstract: Publication date:  Aug 2016
      Source:Advances in Economics and Business  Volume  4  Number  8  Oxana Wieland   Socially responsible Investing (Impact Investing, Sustainable, Ethical, Green investing) that offers pragmatic and social outcome deliveries have become rapidly adopted financial innovations in Scandinavian countries. Impact investing is considered to be one form of socially a responsible investment strategy in the global arena which considers both financial return and social impact (best intentions, outcomes). This research will evaluate Social Impact Investing (SII) practices with particular attention to the private equity companies NORFUND, which is owned by the Norwegian Ministry of Foreign Affairs. Each of three independent case studies is examined in a comparative analysis based on the following criteria: 1) Economic conditions, 2) investment environment, 3) ease of doing business, 4) performance of the Norwegian Development Cooperation, 5) relevance, 6) constraints and 7) opportunities. Results of the analysis show that success or failure of a given venture is tightly coupled to the political environment and existing infrastructure, both financial and real (roads, power distribution etc…). Suggested improvements based on the analysis include a focus on improving several existing programs.
      PubDate: Aug 2016
       
  • Apprising Energy Efficiency Projects and Relevance to ESCOs

    • Abstract: Publication date:  Aug 2016
      Source:Advances in Economics and Business  Volume  4  Number  8  Atik Sheikh   Rahul Ravi   Darshan Joshi   and Medha Joshi   Currently, India is facing an energy crisis and lots of efforts are being put in order to reduce this widening gap between energy demand and supply. One of the most cost effective ways of reducing this gap is by implementing Energy Efficiency (EE) projects. These projects have a very high potential in India as it is estimated that it can generate energy savings worth $ 730 million per year. But, this is not being utilised properly due to various hurdles. One of the major obstacles is financing of these EE projects. Most financial institutions are not familiar with the aspects of EE projects. Also, weak credit strength of Energy Service Company (ESCOs) and perceived lack of collateral or guarantees also hinder the implementation of such projects. Added to this, financial institutions lack the appraisal capacities required for these projects. In this paper, appraising of EE projects is discussed and the benefits of financing EE projects are highlighted. Also, the paper discusses certain schemes and policies that could be implemented in order to make these projects more attractive to the Financial Institutions. Five Basic methods of appraisal i.e. promoter appraisal, technical appraisal, financial appraisal, environmental appraisal and legal appraisal are necessary when it comes to EE projects. In addition, different perspectives of different stakeholders like Promoters, Lenders, Government, ESCOs, etc. are observed and understood in this paper. Also, the paper shall discuss in the detail about new financing mechanisms i.e. PRGF (Partial Risk Guarantee Fund) and VCF (Venture Capitalist Fund) and also along with ESCOs ability to benefit from these financing mechanisms.
      PubDate: Aug 2016
       
  • Is There Any Real Market Indicator to Predict Stock Index Returns? A
           SEM Approach

    • Abstract: Publication date:  Aug 2016
      Source:Advances in Economics and Business  Volume  4  Number  8  G. Naresh   S. Thiyagarajan   and S. Mahalakshmi   The collapse of Lehman Brothers that led to global financial crisis had not left the Indian market too. During crisis many investors who determine their strategies in the underlying market based on the traditional indices and future prices movements were clueless about the plunge in the markets. The two benchmark stock indices, the Nifty and Sensex have ceased to reflect the 'true' performance of Indian stock markets today (Business Line, [2]). Thus investors tracking the market based on the popular indices alone as the market indicator will not suffice their hunger for building profitable trading strategies. Thus in the current scenario, to gauge any uncertainty in the market and to capture the underlining market movements in a systematic manner, the market volatility, liquidity, futures price should be closely monitored. Hence, this paper aimed at looking into the complex relationship between India VIX (Volatility Index), Index Futures, Open Interest (Liquidity) and NIFTY (Market) by applying Structural Equation Model (SEM) by which the impact of VIX, Nifty Futures and Open Interest on Nifty prices and their inter-relationships were studied to better understand the underlying market performance.
      PubDate: Aug 2016
       
  • Creation, Transfer and Utilization of Knowledge: A Case Story of the
           "Knowledge Gardening" Process for Survival

    • Abstract: Publication date:  Aug 2016
      Source:Advances in Economics and Business  Volume  4  Number  8  Karl Gustaf Svanström   A company does not only consist of machines, plants and technology as resources. It also includes people with knowledge. This human capital added with ambitions and creativity to build strategies make the company survive in the international context. Even though internationalization has been much studied the main attention has lied in the focus of crossing a national border, which also is the traditional definition of internationalization. But the internationalization of businesses also includes how to make sense, building strategies to survive. The internationalization of businesses must therefore be looked upon as a longitudinal "never-ending" process. This paper presents a case study of the Swedish company CA Clase. It shows how creation, transfer and utilization of knowledge were necessary to over-win barriers and build strategies to make sense and survive in the international context. The knowledge process is looked upon as a strategic communication tool. The knowledge had been accumulated and embedded during many years. Through meetings, interviews, reading of protocols and written notes the knowledge could be reconstructed. The work-perspective was hermeneutical and could at the same time be looked upon as a resource based view. That work was here called knowledge gardening, which was a way to collect and sort out implicit and explicit internal as well as external knowledge.
      PubDate: Aug 2016
       
  • What Will Happen to Retirement Economy in the Baltic States?

    • Abstract: Publication date:  Aug 2016
      Source:Advances in Economics and Business  Volume  4  Number  8  Olga Pavuk   The new term "retirement economy", as no other one, characterises realities not only of the modern labour market, but also of the world economy. The adverse demographic situation in the Baltic States allows speaking about the inability of the present retirement system for future pensioners. Besides low birth rate it is necessary to mention substantial out-migration of able-bodied population to other countries with good working opportunities. The adverse demographic situation and labour migration are the basis of pessimism and non-confidence of the population, especially of the youth, in the state retirement system. People understand that if at the moment of their retirement in the country there is not enough labour force, and the number of young people has been reduced, it will not be possible to resolve the issue of decent pensions. The raising of retirement age will hardly help to make a difference. Aging of the population on the European continent in general and Latvia in particular leads to increase in demographic loading. The share of aged population in the national economy increases quicklier than the inflow of young and middle-aged population, i.e. persons who are at the age of labour activity. The immigration flow accruing from year to year also has a negative impact on a qualitative structure and number of labour forces. One of solutions could be a paradoxical decision to lower retirement age. In order to free up jobs for young people, particularly keenly felt the burden of unemployment and to motivate them to participate in social programs and pension funds.
      PubDate: Aug 2016
       
  • Economic Development and the Demand in Global Business toward Business
           Markets

    • Abstract: Publication date:  Apr 2016
      Source:Advances in Economics and Business  Volume  4  Number  4  Mirko Tripunoski   Aleksandar Nikolovski   and Antoaneta Vassileva   Economic development is the most important for foreign consumers to adjust their trade tasks and demand in global business. Each stage of the economic development of a country has a powerful impact on prospects of foreign investment activities, commodity demand, the permanent system of distribution and logistics and a comprehensive marketing process while increasing consumption. Basically, economic development represents a double challenge. Firstly, there is a need to investigate general aspects to gain an image of the economic climate. Secondly, each state of economic growth must be investigated with the focus being on market opportunities, current economic level and growing economic potential. The state of economic development at a particular moment determines the kind and level of market potential. Economic dynamics and economic competence make it possible for commerce to prepare and respond appropriately to economic movements and market development. Economic growth is perceived and explored by the authors in terms of increased national production resulting in increased GDP per capita in domestic production but with a wide distribution of increased income, where there are conditions and aspirations towards gross economic growth, increased consumer demand and requirements which are likely to get higher with every decade as opposed to the process stretching over centuries in the past.
      PubDate: Apr 2016
       
  • A 10 Year Retrospective of Help Desk Satisfaction for High Technology
           Equipment Shows Little Consistency

    • Abstract: Publication date:  Apr 2016
      Source:Advances in Economics and Business  Volume  4  Number  4  William Bleuel   This study presents the results of 10 years of telephone surveys of customers of high technology equipment (2005 through 2014) supported locally in the United States, United Kingdom, France, Germany Italy and Spain. The study has three objectives. The first objective is to determine whether there has been a trend in customer satisfaction in the 10 year period. The second objective was to determine whether the key drivers (areas most important to the customers) were consistent over time. The third objective was to determine if the drivers were the same in all countries studied. In general, the study showed that there is no significant trend in customer satisfaction over the 10 year study and that the key drivers were not consistent over time and that customers in all countries had different support priorities.
      PubDate: Apr 2016
       
  • Aid Effectiveness of Economics Development Initiatives of Sevanagala and
           Kebithigollewa Divisions Secretariat Divisions (DSDs): Are They
           Sustainable, Inclusive and Equitable?

    • Abstract: Publication date:  Apr 2016
      Source:Advances in Economics and Business  Volume  4  Number  4  Chatura Rodrigo   Sri Lanka is a middle income country with a gross domestic production of about $ 50 billion. The human development index places Sri Lanka at the 97th position. Gender Inequality Index (GII) rank Sri Lanka at 74. The Gini index has reduced from 46 in 1995 to 40.3 in 2007; however, the economic inequalities are severe among rural areas. There is a significant discrepancy between the gender in terms of economic opportunities and economic status. The majority of Sri Lanka's workforce resides in rural areas and is engaged in agricultural activities. A significant share of the agricultural production is still used for self-sufficiency. Economic performance and poverty are not evenly spread across the nine provinces in Sri Lanka and serious regional disparities exist. Despite the many interventions by donor community and the government, there is a growing debate on the effectiveness of these aids on reducing the poverty of the rural Sri Lanka and ensuring sustainable, inclusive and equitable growth. This study looked at Uva and North Central provinces where the poverty rates are extremely high while donor interventions on economic development are high as well. Level of success derived from donor funded economic development projects vary based on the duration of the project where some instances such as adaptation to new and environmentally friendly agriculture farming methods are only being introduced through long term projects yet failing to motivate the youth. There are disparities among the women headed households in receiving the livelihood supports both short and long term. While male headed households are more successful in utilizing economic development initiatives to ensure their livelihoods, female headed households have failed to do so.
      PubDate: Apr 2016
       
  • Random Walk, Ergodicity versus Predictability – The Case of the
           Budapest Stock Exchange

    • Abstract: Publication date:  Apr 2016
      Source:Advances in Economics and Business  Volume  4  Number  4  Bélyácz Iván   and Nagy Bálint Zsolt   In financial markets, the term 'random walk' is frequently used in relation to price movement over a period of time. This highly expressive term simply means that prices do not follow a predictable trend, and so previous movements are unsuitable as a basis for speculation regarding future price changes. There exists, however, another model which is based on the ergodic theorem, and this says that past and present probability distribution define the probability distribution which will dictate future market prices. Clearly, the 'random walk' hypothesis and the ergodic theorem are polar opposites, and, whilst the concept of uncertainty is closely linked to the former, the latter suggests that forecasting is, in fact, possible. This paper examines how the theory of efficient markets and the efficiency of the market itself provide the means to resolve this contradiction. We provide empirical proof concerning the 'random walk' theory, for both the recession and post-recession periods in the case of the stock index of the Hungarian stock market.
      PubDate: Apr 2016
       
  • Invisible Restriction: Franchising Development in Kazakhstan

    • Abstract: Publication date:  Apr 2016
      Source:Advances in Economics and Business  Volume  4  Number  4  Raissa Kaziyeva   The purpose of the article is to identify the so-called "invisible factors" hindering the development of franchising in Kazakhstan. The author's studies since the early 2000s, business training, seminars, consulting services for existing and potential entrepreneurs indicate that neither the laws nor the special government programs to support small and medium-sized businesses in the country, have become the decisive force so far, which would give the necessary dynamics to the process. The main attention is paid to the identification of differences between the expectations of both Kazakh franchisees and franchisors, as well as how differently both sides are currently viewing accountability to each other, what they are willing to offer each other, how they see their rights and obligations. Current legislation of the Republic of Kazakhstan in the field of franchising, unfortunately, does not eliminate the discrepancies in views and visions of the parties in franchise relationship. This article attempts to give practical implications for franchising development in Kazakhstan that will raise the effectiveness and enhance the credibility of franchising business through preliminary screening of subjective assumptions regarding franchising advantages and benefits, using a cross-comparative analysis, as well as provide recommendation to add addenda and clarifications to the agreement as necessary.
      PubDate: Apr 2016
       
  • The Filipino Customs Brokers' Perception on the Proposed Customs
           Modernization and Tariff Act (CMTA) of the Philippines

    • Abstract: Publication date:  Apr 2016
      Source:Advances in Economics and Business  Volume  4  Number  4  Roberta L. Riga   The study focused on the perception of the Filipino Customs Brokers on the proposed Customs Modernization and Tariff Act (CMTA) of the Philippines. Specifically, it established the profile of the customs brokers in terms of years in practice of the profession, number of clients, estimated annual net income and estimated revenue remitted to the Bureau of Customs (BOC). It then determined the level of knowledge of the customs brokers with regards to definition of declarant, responsibilities of declarant, role of third party and exclusion of 'customs broker' under CMTA. It also determined the perception of the customs brokers on the effects of the proposed CMTA to the customs broker profession. Further, it looked into the significant difference on the level of perception of customs brokers on the CMTA when grouped according to their profile variables. The descriptive research design was used in this study utilizing a self-constructed questionnaire as data gathering instrument. Using Slovin's formula, data were gathered from 153 accredited customs brokers transacting at major ports in the Philippines for at least five years. Respondents were selected through convenience sampling. Statistical tools used were percentage, weighted mean and analysis of variance (ANOVA). Most of the respondents were in practice of the customs broker profession for 5 to 10 years, serve 10 to 20 clients, have an estimated annual income of more than one million to five million pesos and have an estimated revenue remittance to the BOC of more than one million to one billion pesos. Findings showed that the customs brokers have high level of knowledge with regards to the definition of declarant, responsibilities of declarant and the role of 'third party' under the proposed CMTA. However, they have low level of knowledge on the exclusion of 'customs broker' on the proposed law. The respondents strongly perceive that the effects of the proposed law to the customs broker profession would be unemployment among employees of existing customs brokerage firms, anxiety among students currently enrolled in the BS Customs Administration (BSCA) program, anxiety among colleges/universities offering the BSCA program, inconsistency with present legislation on customs broker profession, irrelevance of the Professional Regulation Commission (PRC) license as customs broker, misunderstanding as to the customs brokers' roles and functions in trade facilitation with the role of third parties, irrelevance of the accredited professional organization of customs brokers and irrelevance of the Professional Regulatory Board for Customs Brokers (PRBCB). Findings revealed that there are no significant differences on the respondents' level of perception on the effects of the proposed CMTA to the customs broker profession when respondents are grouped into their years of practice in the profession, number of clients, estimated annual net income and estimated revenue remittance to the BOC.
      PubDate: Apr 2016
       
 
 
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