Template-Type: ReDIF-Article 1.0
Author-Name: Elina Pelto
Author-X-Name-First: Elina
Author-X-Name-Last: Pelto
Author-Name: Peeter Vahtra
Author-X-Name-First: Peeter
Author-X-Name-Last: Vahtra
Author-Name: Kari Liuhto
Author-X-Name-First: Kari
Author-X-Name-Last: Liuhto
Title: Cyp‐Rus investment flows to central and Eastern Europe ‐ Russia's direct and indirect investments via Cyprus to Cee
Abstract:
Abstract This paper deals with Russian investments to ten
Eastern European EU candidate countries. Eastern European countries are an
important destination for Russian OFDI, and the share of Russia in many
CEEC's inward FDI stock is substantial. Russian investments to these
countries are mostly connected to the internationalisation of Russian
energy sector. Russian oil and gas giants have been actively investing to
almost all eastern EU candidate countries. However, OFDI constitutes only
a small part of Russian capital abroad, as it covers merely 10 % of the
Russian capital flight. Cyprus has been an important landing place for
Russian capital flight and is currently the biggest direct investor to
Russian economy. Also the investment flow from (or via) Cyprus to other
Eastern European countries is relatively big. Significant share of these
Cypriot investments are considered to be of Russian origin. This paper
tries to anticipate the effects of the legislative changes, due to
Cyprus's EU accession in 2004, on the role of Cypriot offshore sector as a
landing place for Russian capital.
Journal: Journal of Business Economics and Management
Pages: 3-13
Issue: 1
Volume: 5
Year: 2003
Month: 11
X-DOI: 10.1080/16111699.2004.9636063
File-URL: http://hdl.handle.net/10.1080/16111699.2004.9636063
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Handle: RePEc:taf:jbemgt:v:5:y:2003:i:1:p:3-13
Template-Type: ReDIF-Article 1.0
Author-Name: Ruth Alas
Author-X-Name-First: Ruth
Author-X-Name-Last: Alas
Title: Changes in Estonian organizations from institutional perspective
Abstract:
Abstract During last decade Estonia has passed through its
transition from the authoritarian, centralized, totalitarianism of state
socialism, to the democratic country with a free market economy, with
different attitudes and values. Estonian companies have been in continuous
change process and remarcable part of these changes are deepest by scope
‐ transformational changes. Author proposes that the social
phenomena such as organizational change can only be understood in
relations to the wider contextual influences that surround them. Changes
in Estonian companies could be explained by using institutional and
historical context. Research in Estonian companies indicates, that during
stable institutions developmental or transitional changes take place in
organizations, during societal transience transformational changes occur
in organizations.
Journal: Journal of Business Economics and Management
Pages: 15-23
Issue: 1
Volume: 5
Year: 2003
Month: 11
X-DOI: 10.1080/16111699.2004.9636064
File-URL: http://hdl.handle.net/10.1080/16111699.2004.9636064
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Handle: RePEc:taf:jbemgt:v:5:y:2003:i:1:p:15-23
Template-Type: ReDIF-Article 1.0
Author-Name: Romualdas Ginevičius
Author-X-Name-First: Romualdas
Author-X-Name-Last: Ginevičius
Author-Name: Manuela Tvaronavičiene
Author-X-Name-First: Manuela
Author-X-Name-Last: Tvaronavičiene
Title: Tax evasion through offshore companies: How important the phenomenon is?
Abstract:
Abstract The aim of the paper is to elaborate phenomenon
of offshore activity. In the article principles and conditions of offshore
companies’ performance have been discussed and the most popular
areas of offshore economical activity analyzed. Authors’ view to
efficiency of Lithuanian government's attempts to restrict usage of
offshore zones has been presented.
Journal: Journal of Business Economics and Management
Pages: 25-30
Issue: 1
Volume: 5
Year: 2003
Month: 11
X-DOI: 10.1080/16111699.2004.9636065
File-URL: http://hdl.handle.net/10.1080/16111699.2004.9636065
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Handle: RePEc:taf:jbemgt:v:5:y:2003:i:1:p:25-30
Template-Type: ReDIF-Article 1.0
Author-Name: Igor Kabashkin
Author-X-Name-First: Igor
Author-X-Name-Last: Kabashkin
Title: The problems of logistics within the frame of European platform for transport research
Abstract:
Abstract Review of the main research activities in the
field of transport and freight logistics within the frames of European
Research Area and European Platform for Transport Research.
Journal: Journal of Business Economics and Management
Pages: 31-38
Issue: 1
Volume: 5
Year: 2003
Month: 11
X-DOI: 10.1080/16111699.2004.9636066
File-URL: http://hdl.handle.net/10.1080/16111699.2004.9636066
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Handle: RePEc:taf:jbemgt:v:5:y:2003:i:1:p:31-38
Template-Type: ReDIF-Article 1.0
Author-Name: Antanas Makštutis
Author-X-Name-First: Antanas
Author-X-Name-Last: Makštutis
Title: Forecasting threats to the Baltic sea region cooperation security in the period of Lithuania integrating into Nato and the Eu
Abstract:
Abstract The work deals with the global economic factors
of the world that have an impact on the development of the country's
economy and national market as well as on the regional cooperation
security under the conditions of Lithuania's integration into NATO and the
European Union (EU). Methodological principles of research of internal
threats of the regional cooperation security, methodics and methods of
their implementation are provided. Forecast is made of the tendencies of
human activity efficiency in dependence upon which a description is given
of the human life quality and the rational use of resources, the GDP
changes and tendencies of competitiveness in the national, EU and world
markets. The internal environment for the regional cooperation security in
time and space is modelled.
Journal: Journal of Business Economics and Management
Pages: 39-50
Issue: 1
Volume: 5
Year: 2003
Month: 11
X-DOI: 10.1080/16111699.2004.9636067
File-URL: http://hdl.handle.net/10.1080/16111699.2004.9636067
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Handle: RePEc:taf:jbemgt:v:5:y:2003:i:1:p:39-50
Template-Type: ReDIF-Article 1.0
Author-Name: Aldona Garškiene
Author-X-Name-First: Aldona
Author-X-Name-Last: Garškiene
Author-Name: Kristina Garškaite
Author-X-Name-First: Kristina
Author-X-Name-Last: Garškaite
Title: Enterprise bankruptcy in Lithuania
Abstract:
Abstract Since the re‐establishment of the
independence, Lithuania has undergone major changes in the sphere of
economy and had to re‐orientate it towards a new (economic) market
system, to enter new markets, and to restructure the economy. The shift in
business conditions has given rise to numerous upheavals, including the
bankruptcy of enterprises, which had detrimental economic and social
consequences (one of such evils was increasing unemployment). However, it
is also necessary to point out the positive role of the bankruptcy, which
is related to a growing competition in the contemporary market economy and
the acceleration of changes allowing the best companies alone to survive
on the market. A positive improvement in the legal basis of bankruptcy and
restructuring leaves the hope that the number of bankrupt companies will
decrease. Moreover, in order to reduce the bankruptcy risk, it is
necessary to create a system of bankruptcy prevention.
Journal: Journal of Business Economics and Management
Pages: 51-58
Issue: 1
Volume: 5
Year: 2003
Month: 11
X-DOI: 10.1080/16111699.2004.9636068
File-URL: http://hdl.handle.net/10.1080/16111699.2004.9636068
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Handle: RePEc:taf:jbemgt:v:5:y:2003:i:1:p:51-58
Template-Type: ReDIF-Article 1.0
Author-Name: Willem K. Brauers
Author-X-Name-First: Willem K.
Author-X-Name-Last: Brauers
Title: Multiobjective optimization (moo) in privatization
Abstract:
Abstract Deregulation of public enterprises and services
by privatization is very fashionable nowadays. The aim of privatization is
mainly to increase effectiveness, while the government itself likes to
maximize its revenue at the occasion of the takeover. Most of these public
enterprises show a shortage in investment while maintenance of a
reasonable employment level in the new private firm is also strongly
desirable, not to mention the ecological obligations imposed on the new
private firm. It means that takeover bids have to face multiple objectives
and different stakeholders, i.e., all the parties interested in the issue.
Traditionally the optimization of all these objectives is then judged upon
in a rather subjective way. Consequently, there is a need for a more
general and objective, not to say scientific, method which can compare
several takeover bids for privatization optimizing multiple objectives
sometimes with different units of measurement. With that purpose, a method
is developed, which takes into consideration upper limits, lower bounds,
dominating and nondominating effects, ending up with a set of nondominated
takeover bids, which are ranked by using ratio analysis and Reference
Point Theory, whereas objectivity and decreasing marginal utility are
fully respected [1]. A simulation on several takeover bids for a public
enterprise given multiple objectives follows the theoretical explanation.
Journal: Journal of Business Economics and Management
Pages: 59-65
Issue: 2
Volume: 5
Year: 2004
Month: 2
X-DOI: 10.1080/16111699.2004.9636069
File-URL: http://hdl.handle.net/10.1080/16111699.2004.9636069
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Handle: RePEc:taf:jbemgt:v:5:y:2004:i:2:p:59-65
Template-Type: ReDIF-Article 1.0
Author-Name: Gediminas Davulis
Author-X-Name-First: Gediminas
Author-X-Name-Last: Davulis
Title: A model and method for solving a dynamic transport problem
Abstract:
Abstract The problem of optimal development of transport
network is considered. We have to define a plan of network development,
i.e. a network state at fixed time moments possible the scope of allocated
resources such that the total expenses for reconstruction of the network
and construction of its new elements as well as for passenger and cargo
transportation be the lowest. Thus the problem considered can be described
by the optimization model with a non‐linear non‐convex
objective function and linear constraints of special structures. Since
that is a non‐convex problem with a lot of extreme therefore one
can expect to find only an approximate solution, close to a global one, at
best. There is no effective and universal solution methods for this
problem even in the sense of a local solution. This paper discusses a
method for solving the problem using the synthesis of static section, that
allows us to decompose dynamic problem into the set of static problems of
a smaller volume, and contour optimization methods. The experimental
calculation confirm that the proposed method is suitable for solving
problem represented in the paper.
Journal: Journal of Business Economics and Management
Pages: 67-76
Issue: 2
Volume: 5
Year: 2004
Month: 2
X-DOI: 10.1080/16111699.2004.9636070
File-URL: http://hdl.handle.net/10.1080/16111699.2004.9636070
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Handle: RePEc:taf:jbemgt:v:5:y:2004:i:2:p:67-76
Template-Type: ReDIF-Article 1.0
Author-Name: John Saee
Author-X-Name-First: John
Author-X-Name-Last: Saee
Title: Internationalisation strategy for education in the 21ST century
Abstract:
Abstract There has been a sea change in the world economy
with perceived far‐reaching consequences on all aspects of human
civilization. This dramatic transformation is largely precipitated by the
phenomenon of globalization. Baylis and Smith (1997) put forward the
notion that globalization has accelerated the process of increasing
interconnectedness between societies so much that events in one part of
the world have more and more effect on peoples and societies far away. A
globalized world, they argue, is one in which political, economic,
cultural, and social events become more and more interconnected, and also
one in which they have a wider impact. It is a truism to state that
globalization means different things to different people. For some, the
term is entirely benign; it portrays a process that accelerates economic
prosperity for the nations engaged in globalization. However, for others
globalization is a plot by multinational companies, which want to exploit
third‐world countries’ resources in terms of cheap labor and
raw materials. At the same time, these multinational companies undermine
national sovereignty of the third‐world countries due to their
enormous economic and political powers (Saee, 2004). In this research
paper, an attempt is made to critically explore the drivers and the
rationale behind the globalization that has also led educational
institutions in most countries around the world to develop
internationalization strategies for launching their degree offerings
internationally. However, the focus of this research paper is on
internationalization strategies by the Australian educational institutions
that have important lessons for educational institutions of other
countries interested in gaining an insight into internationalization
strategies of Australian educational institutions.
Journal: Journal of Business Economics and Management
Pages: 77-84
Issue: 2
Volume: 5
Year: 2004
Month: 3
X-DOI: 10.1080/16111699.2004.9636071
File-URL: http://hdl.handle.net/10.1080/16111699.2004.9636071
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Handle: RePEc:taf:jbemgt:v:5:y:2004:i:2:p:77-84
Template-Type: ReDIF-Article 1.0
Author-Name: Ligita Šimanskiene
Author-X-Name-First: Ligita
Author-X-Name-Last: Šimanskiene
Title: Analysis of typical Lithuanian features in the context of accession to the European union
Abstract:
Abstract The work reviews the influence of
cross‐cultural features in management in the context of
globalization. The work analyses the particular characteristics of a
national stereotype of a Lithuanian based on the survey of other authors.
Several hypotheses have been suggested based on SPSS programmer during the
survey. The research has corroborated that the correct reasoning of
typical characteristic features of a Lithuanian depends on age, position,
sex, while the hypothesis 4, asserting that the correct reasoning of
typical characteristic features of a Lithuanian depends on education,
hasn't been corroborated according to statistics and the variety of
answers was due to different personal characteristics of respondents. Also
the work analyses future forecasts for Lithuania in the European Union.
Journal: Journal of Business Economics and Management
Pages: 85-96
Issue: 2
Volume: 5
Year: 2004
Month: 2
X-DOI: 10.1080/16111699.2004.9636072
File-URL: http://hdl.handle.net/10.1080/16111699.2004.9636072
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Handle: RePEc:taf:jbemgt:v:5:y:2004:i:2:p:85-96
Template-Type: ReDIF-Article 1.0
Author-Name: Boris Frenkel
Author-X-Name-First: Boris
Author-X-Name-Last: Frenkel
Author-Name: Dmitry Alberg
Author-X-Name-First: Dmitry
Author-X-Name-Last: Alberg
Author-Name: Ilia Frenkel
Author-X-Name-First: Ilia
Author-X-Name-Last: Frenkel
Title: Simulation analysis of the weekend effect's problem
Abstract:
Abstract The proposed paper uses the simulation approach
to the analysis of the model, which explains the essence of the
‘Weekend Effect’ existing on the world's stock exchanges.
This effect contains the difference of the daily working ratio between
Saturday and Monday. The stock market is considered as the Queuing System
functioning according to the Matchmaker concept.
Journal: Journal of Business Economics and Management
Pages: 97-101
Issue: 2
Volume: 5
Year: 2004
Month: 2
X-DOI: 10.1080/16111699.2004.9636073
File-URL: http://hdl.handle.net/10.1080/16111699.2004.9636073
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Handle: RePEc:taf:jbemgt:v:5:y:2004:i:2:p:97-101
Template-Type: ReDIF-Article 1.0
Author-Name: Manuela Tvaronavičiene
Author-X-Name-First: Manuela
Author-X-Name-Last: Tvaronavičiene
Title: Theoretical framework for restructuring of transition countries
Abstract:
Abstract The aim of the paper is to elaborate a
theoretical framework for further formulating of efficient state policy in
such strategic field as reconstructing of transition country's economy.
The main question, which has been arisen, is: to what extent tendencies of
restructuring processes are determined by consistent patterns of
development. Another target of article is to discuss how far benchmarking
attempts could be used in the process of choosing concrete economic policy
of transition country.
Journal: Journal of Business Economics and Management
Pages: 103-108
Issue: 2
Volume: 5
Year: 2004
Month: 2
X-DOI: 10.1080/16111699.2004.9636074
File-URL: http://hdl.handle.net/10.1080/16111699.2004.9636074
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Handle: RePEc:taf:jbemgt:v:5:y:2004:i:2:p:103-108
Template-Type: ReDIF-Article 1.0
Author-Name: Ruth Alas
Author-X-Name-First: Ruth
Author-X-Name-Last: Alas
Title: Process model for organisational change: A study of Estonian companies
Abstract:
Abstract Both the popular press and academic literature
tend to consider organizational change as a step‐by‐step
process leading to success. This paper examines the suitability of the
theory that guides the implementation of change at company level for
organisations in countries in transition. The author's survey, conducted
in 137 Estonian companies, shows that the main focus of Estonian managers
has been on initiating change and much less attention paid to assessing
the process of change and making modifications and consolidating
improvements. Although attention has been focused on initiating change,
nobody has mentioned having identified any resistance to change. Based on
the survey results the author proposes a change model for Estonian
organisations.
Journal: Journal of Business Economics and Management
Pages: 109-117
Issue: 3
Volume: 5
Year: 2004
Month: 4
X-DOI: 10.1080/16111699.2004.9636075
File-URL: http://hdl.handle.net/10.1080/16111699.2004.9636075
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Handle: RePEc:taf:jbemgt:v:5:y:2004:i:3:p:109-117
Template-Type: ReDIF-Article 1.0
Author-Name: Algis Šileika
Author-X-Name-First: Algis
Author-X-Name-Last: Šileika
Author-Name: Valdas Rupšys
Author-X-Name-First: Valdas
Author-X-Name-Last: Rupšys
Author-Name: Boguslavas Gruževskis
Author-X-Name-First: Boguslavas
Author-X-Name-Last: Gruževskis
Title: Youth unemployment and its reduction measures
Abstract:
Abstract The efficient use of the labour force in
post‐industrial society predetermines the competitiveness of the
economy and encourages social development. In this context, youth
unemployment is a particularly undesirable phenomenon, reducing the
efficiency of youth labour force within the level of general labour,
raising social costs, and restricting social development. The position of
young people on the labour market depends on a number of social, economic
and demographic factors, leading to the conclusion that youth unemployment
as a socio‐economic phenomenon is a particularly negative result of
the interaction between these factors. The aim of the paper is to discuss
the theoretical assumptions of the youth integration to the labour market
and to discuss the subsequences of their unemployment. Another target of
the paper is to propose the policy measures for rising economic activity
of the youth. The authors of the article suggest that the youth
integration to the labour market could be increased by integrated
decisions based on qualified services of vocational training.
Journal: Journal of Business Economics and Management
Pages: 119-131
Issue: 3
Volume: 5
Year: 2004
Month: 4
X-DOI: 10.1080/16111699.2004.9636076
File-URL: http://hdl.handle.net/10.1080/16111699.2004.9636076
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Handle: RePEc:taf:jbemgt:v:5:y:2004:i:3:p:119-131
Template-Type: ReDIF-Article 1.0
Author-Name: Yossi Hadad
Author-X-Name-First: Yossi
Author-X-Name-Last: Hadad
Author-Name: Lea Friedman
Author-X-Name-First: Lea
Author-X-Name-Last: Friedman
Author-Name: Aviad A. Israeli
Author-X-Name-First: Aviad A.
Author-X-Name-Last: Israeli
Title: Evaluating hotel advertisements efficiency using data envelopment analysis
Abstract:
Abstract This paper introduces popular methods for ranking
alternatives with multiple inputs and multiple outputs in the DEA context.
The ranking methods are based on different criteria. Consequently, the
ranking of the alternatives are not always the same, particularly as
regards the best alternative. The decision maker, however, must make an
absolute decision as to the most favored alternative. This study proposes
a new ranking method, which is based on the average of the highly
correlated ranking method. The new method is applied on a case study of
ranking hotels in Israel.
Journal: Journal of Business Economics and Management
Pages: 133-141
Issue: 3
Volume: 5
Year: 2004
Month: 4
X-DOI: 10.1080/16111699.2004.9636077
File-URL: http://hdl.handle.net/10.1080/16111699.2004.9636077
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Handle: RePEc:taf:jbemgt:v:5:y:2004:i:3:p:133-141
Template-Type: ReDIF-Article 1.0
Author-Name: Romualdas Ginevičius
Author-X-Name-First: Romualdas
Author-X-Name-Last: Ginevičius
Author-Name: Darius Gudačiauskas
Author-X-Name-First: Darius
Author-X-Name-Last: Gudačiauskas
Title: Brand valuation model
Abstract:
Abstract Brand valuation technique is a core problem in a
company value creation process. It has been done a lot of researches on
the issue since brand valuation hit the headlines in 1988. The main task
in brand valuation is to distinguish brand earnings from the earnings
attributable to another assets: patents, intellectual property, and
tangible assets. This seems to be an undisputable must, but not the only
task for brand valuator. Another task is to estimate probability that the
brand will generate these earnings in the future. Aim of our article is to
propose brand earnings calculation, brand index calculation and brand risk
assessment models, which are the results of the final doctoral
dissertation. We believe that we have developed an ideal brand valuation
model for emerging markets with low share liquidity.
Journal: Journal of Business Economics and Management
Pages: 143-153
Issue: 3
Volume: 5
Year: 2004
Month: 4
X-DOI: 10.1080/16111699.2004.9636078
File-URL: http://hdl.handle.net/10.1080/16111699.2004.9636078
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Handle: RePEc:taf:jbemgt:v:5:y:2004:i:3:p:143-153
Template-Type: ReDIF-Article 1.0
Author-Name: Ol'ga Kašjaková
Author-X-Name-First: Ol'ga
Author-X-Name-Last: Kašjaková
Title: Support to small and medium enterprises ‐ business incubators in Slovakia
Abstract:
Abstract In both developed and developing economies,
policies supporting small and medium enterprises are widely promoted as
their role for economic and social development is universally recognised.
Support programs range from technical assistance to tax incentives, from
direct supply of capital to regulatory provisions, training, support to
innovation and other types of incentives. One of the mechanisms employed
to nurture small firms for more than two decades is “business
incubation”.
Journal: Journal of Business Economics and Management
Pages: 155-163
Issue: 3
Volume: 5
Year: 2004
Month: 4
X-DOI: 10.1080/16111699.2004.9636079
File-URL: http://hdl.handle.net/10.1080/16111699.2004.9636079
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Handle: RePEc:taf:jbemgt:v:5:y:2004:i:3:p:155-163
Template-Type: ReDIF-Article 1.0
Author-Name: Borisas Melnikas
Author-X-Name-First: Borisas
Author-X-Name-Last: Melnikas
Title: Transition processes in Lithuania and other east ‐ and Central European countries: Development of university and professional studies system
Abstract:
Abstract The present state of university and professional
education in Lithuania and major problems of its development are outlined.
The possibilities of upgrading university and professional studies are
evaluated, taking into account the processes associated with the
integration of Lithuania into the European Union. In addition, the
prospects of education development are analyzed in the context of
transitions characteristic of the states of Central and Eastern Europe.
Journal: Journal of Business Economics and Management
Pages: 165-171
Issue: 3
Volume: 5
Year: 2004
Month: 4
X-DOI: 10.1080/16111699.2004.9636080
File-URL: http://hdl.handle.net/10.1080/16111699.2004.9636080
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Handle: RePEc:taf:jbemgt:v:5:y:2004:i:3:p:165-171
Template-Type: ReDIF-Article 1.0
Author-Name: Willem K. Brauers
Author-X-Name-First: Willem K.
Author-X-Name-Last: Brauers
Title: Multi‐objective optimization for facilities management
Abstract:
Abstract The main point of this article is to present in a
short text all aspects of Multi ‐ Objective Optimization for
Facilities Management, so to say from the cradle until the grave.
Additionally, the combination of Multi ‐ Objective Optimization
with Nominal Methods and Scenario Writing represents an innovation. It is
also stated that all stakeholders interested in the issue, instead of one
decision maker, have to be involved. First, desk research will discover
all the surrounding conditions of the issue under consideration.
Therefore, during a period of creative thinking in a nominal exercise all
the main influencing events are recorded and finally ranked. From this
information, scenarios for the future of the facilities sector are
deduced. On basis of all these data, objectives and alternatives are
simulated. A Multi ‐ Objective Optimization for the facilities
sector is made possible by two methods: an additive method with ratios and
the application of Reference Point Theory. Automatically, using these
methods, all objectives are normalized to dimensionless numbers between
zero and one. Nevertheless, a problem of importance for each objective may
remain. Therefore, two methods are proposed. First, weights are granted in
a nonlinear way. Secondly, an objective becomes more important by
introducing different attributes for the same objective. The latter method
seems to be more refined. In this way, a final ranking of the alternatives
for the fulfillment of the objectives is obtained.
Journal: Journal of Business Economics and Management
Pages: 173-182
Issue: 4
Volume: 5
Year: 2004
Month: 11
X-DOI: 10.1080/16111699.2004.9636081
File-URL: http://hdl.handle.net/10.1080/16111699.2004.9636081
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Handle: RePEc:taf:jbemgt:v:5:y:2004:i:4:p:173-182
Template-Type: ReDIF-Article 1.0
Author-Name: Romualdas Ginevičius
Author-X-Name-First: Romualdas
Author-X-Name-Last: Ginevičius
Author-Name: Valentinas Podvezko
Author-X-Name-First: Valentinas
Author-X-Name-Last: Podvezko
Title: Complex evaluation of the use of information technologies in the countries of eastern and central Europe
Abstract:
Abstract "New economy” is a specific economic
phenomenon emerging when two processes including globalization and
technological revolution are taking place simultaneously. A question
arises what economic and institutional conditions in the states under
transition would allow them to take the best advantage of the potential of
“new economy”. These conditions determine if a particular
state is capable of accelerating its pace of long‐term economic
development and approaching the level achieved by highly‐developed
countries. In this context, the problem of evaluating the readiness of the
states under transition to take advantage of “new economy”
acquires great theoretical and practical value. To measure the above
parameter, a so‐called indicator of new economy (NEI) based on ten
variables characterizing the development and effective use of “new
economy” has been recently offered. The INE indicator is a weighted
sum of all ten variables for each state. It may also be calculated as a
non‐weighted sum of all the related criteria. It may be assumed
(based on the expertise) that the impact of any particular variable
(criterion) on the general indicator of “new economy” varies
to some extent, therefore, multiple criteria decision‐making
methods should be used for complex evaluation of NEI
Journal: Journal of Business Economics and Management
Pages: 183-191
Issue: 4
Volume: 5
Year: 2004
Month: 11
X-DOI: 10.1080/16111699.2004.9636082
File-URL: http://hdl.handle.net/10.1080/16111699.2004.9636082
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Handle: RePEc:taf:jbemgt:v:5:y:2004:i:4:p:183-191
Template-Type: ReDIF-Article 1.0
Author-Name: Aluko Bioye Tajudeen
Author-X-Name-First: Aluko Bioye
Author-X-Name-Last: Tajudeen
Title: Privatization of public enterprises in Nigeria: Valuation issues and problems
Abstract:
Abstract Privatization of public enterprises is a rapidly
growing phenomenon in developing countries. However, it requires a lot of
policy decisions and careful planning, which depend on high‐quality
accounting and valuation data. But, the major controversy which trailed
the first phase of privatization programmes in Nigeria is the asset
valuation methodology. This article therefore examines valuation issues
and problems besetting divestiture of public enterprises in the country
and offers suggestions toward improving upon the quality of asset
valuation for privatization.
Journal: Journal of Business Economics and Management
Pages: 193-203
Issue: 4
Volume: 5
Year: 2004
Month: 11
X-DOI: 10.1080/16111699.2004.9636083
File-URL: http://hdl.handle.net/10.1080/16111699.2004.9636083
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Handle: RePEc:taf:jbemgt:v:5:y:2004:i:4:p:193-203
Template-Type: ReDIF-Article 1.0
Author-Name: Renata Korsakiene
Author-X-Name-First: Renata
Author-X-Name-Last: Korsakiene
Title: Determining competitive advantage: The analytic hierarchy process
Abstract:
Abstract Fundamental changes initiated by globalisation,
new technologies, intensive competition, fluctuating demand of consumers,
as well as economical and political changes encourage managers to be
pro‐active, take greater risks and choose innovative strategies.
Besides that, a company's ability to gain competitive advantage becomes an
urgent problem. However, the managers lack a clear approach to the
determination of competitive advantage. That is why the article analyses
some important aspects concerning company's competitive advantage and
presents the results of the determination of company's competitive
advantage by using analytic hierarchy process.
Journal: Journal of Business Economics and Management
Pages: 205-215
Issue: 4
Volume: 5
Year: 2004
Month: 11
X-DOI: 10.1080/16111699.2004.9636084
File-URL: http://hdl.handle.net/10.1080/16111699.2004.9636084
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Handle: RePEc:taf:jbemgt:v:5:y:2004:i:4:p:205-215
Template-Type: ReDIF-Article 1.0
Author-Name: Judit Kapás
Author-X-Name-First: Judit
Author-X-Name-Last: Kapás
Title: New variant of the firm: A market‐like form
Abstract:
Abstract The paper is concerned with the issue of variants
within a firm, the causes of their emergence and coexistence. A particular
attention is paid to the New Economy's variant called market‐like
form. It is contrasted with the M‐form firm that was dominated over
the last century. Significant shift in physical technology is thought to
be a major force driving the evolution process of a firm which is
characterized by the emergence of new variants. The paper also analyzes
how the character of the production technology determines which variant of
the firm is the best suitable to a particular technology.
Journal: Journal of Business Economics and Management
Pages: 217-228
Issue: 4
Volume: 5
Year: 2004
Month: 12
X-DOI: 10.1080/16111699.2004.9636085
File-URL: http://hdl.handle.net/10.1080/16111699.2004.9636085
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Handle: RePEc:taf:jbemgt:v:5:y:2004:i:4:p:217-228
Template-Type: ReDIF-Article 1.0
Author-Name: Romualdas Ginevičius
Author-X-Name-First: Romualdas
Author-X-Name-Last: Ginevičius
Title: Statistical view to development Lithuania: Prospects of competitiveness in the enlarged European union
Abstract:
Abstract The aim of the paper is to present a statistical
view to Lithuanian development tendencies and to highlight specific
features of country's economic structure. Statistical approach grounded on
theoretical elaborations of consistent patterns of transition
countries’ development should lead to concretization of state
economic policy in field of defining of development directions.
Journal: Journal of Business Economics and Management
Pages: 229-234
Issue: 4
Volume: 5
Year: 2004
Month: 12
X-DOI: 10.1080/16111699.2004.9636086
File-URL: http://hdl.handle.net/10.1080/16111699.2004.9636086
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Handle: RePEc:taf:jbemgt:v:5:y:2004:i:4:p:229-234
Template-Type: ReDIF-Article 1.0
Author-Name: Mirjana Radović Marković
Author-X-Name-First: Mirjana Radović
Author-X-Name-Last: Marković
Title: Managing the organizational change and culture in the age of globalization
Abstract:
Abstract Great shifts ‐ genuine and radical
transformation ‐ have been shaping the economy and business
environment in recent decades. The world is going to be too tough and
competitors too ingenious as companies are shaken loose from traditional
ways of conducting business. Therefore, the old principles no longer work
in the age of Globalization. Based on her research, Dr Radović
Marković tried to make a profile of a successful organization which
will be in the best way adopted to business environment in the new
economy. Namely,in order to get a complete picture how the winning
organization will look like in the future, the author concluded that the
successful companies in the future will be the ones which are wise enough
to harness the full potential of the entire organization in the rapidly
changing business environment .It means that the winners will be the
unbridled firms that are responsive to challenges and adroit in both
creating opportunities and capturing them. In other words, to match the
business environment that is more networked within and among companies,
the ability to manufacture value will have to be distributed across the
company to a much greater extent than in the past. Under these
circumstances, managers need to transform themselves, too. They need to
have a better framework for thinking about and understanding
organizational change. Additionally, continuous learning is the key
competency required by any organization that wants to survive and thrive
in the newknowledge economy. Market champions keep asking learning
questions, keep learning how to do things better, and keep spreading that
knowledge throughout their organization. Knowledge organizations obtain
competitive advantage from continuous learning, both individual and
collective, concluded Dr.Radović Marković. The author also
stresses that it is necessary to determine general personal knowledge and
education, then to examine knowledge or various specializations in certain
areas and lastly to identify their skills. Recent researches in the USA
show that business owners who were not educated enough for the business in
which they were engaged, were not successful (80 % of their businesses
failed during the first year of their existence). On the opposite, those
entrepreneurs who were educated and who showed constant interest in
improving their activities have increased their business success by 60 %
after the completion of the basic training programs for entrepreneurship
and management. Therefore the author pointed out that more highly skilled
workforce should be beneficial to organizations. Additionally, the human
capital approach reflects the view that the market value of the firm
increasingly depends on intangible rather than tangible resources. The
three main components of human capital are described as a) early ability,
b) qualifications and knowledge acquired through education and c) skills,
competencies and expertise through on‐and off‐the‐job
training. This would suggest that individual capability is enhanced by
greater qualifications and higher skill levels. If this can be assessed
and used in good effect in the firm then better human capital should,
ceteris paribus, enhance organizational performance. Better organizational
performance should, in turn, translate into better national performance.
Finally, the author concluded that we should further recognize that we are
living in the globalization era, or the Global Age. From the viewpoint of
a product life cycle, we are in the introductory phase of globalization
because we are in the early stages of the digital revolution that is
creating the technologies that are enabling real time relationships among
dispersed individuals and organizations. To meet constantly changing
conditions and demands, business has to transcend boundaries to get what
it needs regardless of where it exists—geographically,
organizationally and functionally.
Journal: Journal of Business Economics and Management
Pages: 3-11
Issue: 1
Volume: 9
Year: 2008
Month: 1
X-DOI: 10.3846/1611-1699.2008.9.3-11
File-URL: http://hdl.handle.net/10.3846/1611-1699.2008.9.3-11
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Handle: RePEc:taf:jbemgt:v:9:y:2008:i:1:p:3-11
Template-Type: ReDIF-Article 1.0
Author-Name: Ruth Sepper
Author-X-Name-First: Ruth
Author-X-Name-Last: Sepper
Author-Name: Ruth Alas
Author-X-Name-First: Ruth
Author-X-Name-Last: Alas
Title: Role of politics in public sector organizational change
Abstract:
Abstract In this paper we will address issues of
organizational changes in public sector where the relevance of management
has not diminished during the last two decades of the neo‐liberal
market philosophy. Public sector organizations are susceptible to greater
and more open accountability with politicians, pressure groups, taxpayers
and voters all having an interest in the performance of it. In late 1990s
Estonian government initiated reforms of health care system in the
country. Estonian Hospital Master Plan (EHMP) 2015 was launched in 2000
which, within the others, was initiating the merge of seven Tallinn
hospitals into North Estonian Regional Hospital (NERH). To evaluate
efficacy of organizational changes during implementation of
EHMP‐model into health care system in Estonia we utilized personal
interviews of top and middle managers and annual reports of merged
hospitals to benchmark these measures to earlier merged Univerity Hopsital
and other EU hospitals. We conclude that even NERH was established and the
reform‐initiated changes were mostly introduced by the deviation
from first‐line governmental plans and introduction of new
political directions in 2003 lead to new organizational changes and
managerial efforts to gain the goals with, unfortunately, prolonged change
process.
Journal: Journal of Business Economics and Management
Pages: 13-23
Issue: 1
Volume: 9
Year: 2007
Month: 11
X-DOI: 10.3846/1611-1699.2008.9.13-23
File-URL: http://hdl.handle.net/10.3846/1611-1699.2008.9.13-23
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Handle: RePEc:taf:jbemgt:v:9:y:2007:i:1:p:13-23
Template-Type: ReDIF-Article 1.0
Author-Name: Vilmante Kumpikaite
Author-X-Name-First: Vilmante
Author-X-Name-Last: Kumpikaite
Title: Human resource development in learning organization
Abstract:
Abstract This paper draws on prior exploration on human
resource development in a learning organization, including theories about
a learning organization, its features, human resource development and
learning styles in organizations. The main aim of this paper is to explore
human resource development and learning styles in organizations. The
author introduces results of the survey covering 37 Lithuanian
organizations selected from various industries ranging from a newspaper
and transportation, insurance and radio station, to those in trade and
manure production. The research shows that mostly explored organizations
have a formalized approach to learning and has only a few features of a
learning organization.
Journal: Journal of Business Economics and Management
Pages: 25-31
Issue: 1
Volume: 9
Year: 2008
Month: 1
X-DOI: 10.3846/1611-1699.2008.9.25-31
File-URL: http://hdl.handle.net/10.3846/1611-1699.2008.9.25-31
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Handle: RePEc:taf:jbemgt:v:9:y:2008:i:1:p:25-31
Template-Type: ReDIF-Article 1.0
Author-Name: Costas Zafiropoulos
Author-X-Name-First: Costas
Author-X-Name-Last: Zafiropoulos
Author-Name: Vasiliki Vrana
Author-X-Name-First: Vasiliki
Author-X-Name-Last: Vrana
Title: Service quality assessment in a Greek higher education institute
Abstract:
Abstract Education service quality, even though it has
become a major issue in higher education worldwide, in Greece it has
gained attention only in the last few years. The paper analyzes how
students and staff shape opinion about quality of education in a HE
institute in Greece. This is one of the few analyses of the perceptions
about quality of educational services, viewed both by students and staff
of Higher Education Institute in Greece. The study uses the SERVQUAL
instrument, adjusted in the educational context. It finds the gaps within
students’ and staff's attitudes and reveals possible differences
between students’ and staff's views. Gaps exist among some
students’ attitudes regarding perceived and expected quality. Staff
presents greater gaps than students in every SERVQUAL dimension. Although
staff's scores about perceived and expected quality differentiate
significantly from students’ scores, no statistically significant
difference exists regarding the final SERVQUAL scores. The SERVQUAL
instrument presents high reliability indices, however its validity is
questioned. The issue has important strategic and managerial implications
because it relates to the ability of the institution to bridge staff's and
student's attitudes. Although SERVQUAL presents some limitations regarding
applicability it still may be used as a complementary research instrument
for assessing service quality. In the educational context SERVQUAL can be
used to reveal differentiation among views of the key stakeholders, such
as students and staff. Managers should take steps to ensure that both
parts form a realistic view of the educational process.
Journal: Journal of Business Economics and Management
Pages: 33-45
Issue: 1
Volume: 9
Year: 2007
Month: 10
X-DOI: 10.3846/1611-1699.2008.9.33-45
File-URL: http://hdl.handle.net/10.3846/1611-1699.2008.9.33-45
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Handle: RePEc:taf:jbemgt:v:9:y:2007:i:1:p:33-45
Template-Type: ReDIF-Article 1.0
Author-Name: Martin Schieg
Author-X-Name-First: Martin
Author-X-Name-Last: Schieg
Title: Strategies for avoiding asymmetric information in construction project management
Abstract:
Abstract A construction project is characterized by a high
number of project participants and a multitude of contract relations. The
Principal Agent Theory deals with the design of contracts, especially with
respect to asymmetric information. Asymmetric distribution of information
in co‐operations can have effects before as well as after closing a
contract. In construction project management therefore attention has to be
paid to where information imbalances occur. Several methods are known with
which one can cope with the resulting problems but which in turn cause
costs.
Journal: Journal of Business Economics and Management
Pages: 47-51
Issue: 1
Volume: 9
Year: 2007
Month: 11
X-DOI: 10.3846/1611-1699.2008.9.47-51
File-URL: http://hdl.handle.net/10.3846/1611-1699.2008.9.47-51
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Handle: RePEc:taf:jbemgt:v:9:y:2007:i:1:p:47-51
Template-Type: ReDIF-Article 1.0
Author-Name: Sachin Kumar Srivastava
Author-X-Name-First: Sachin Kumar
Author-X-Name-Last: Srivastava
Author-Name: Dhruve Narain Kakkar
Author-X-Name-First: Dhruve Narain
Author-X-Name-Last: Kakkar
Title: Estimation of motivation using entropy
Abstract:
Abstract Motivation has been in practices since the life
of mankind. It is such an effort, which requires to be quantified for
better management technique. The present paper deals with estimation of
motivation efforts using entropy and ability of manpower involved in
certain organization.
Journal: Journal of Business Economics and Management
Pages: 53-56
Issue: 1
Volume: 9
Year: 2007
Month: 12
X-DOI: 10.3846/1611-1699.2008.9.53-56
File-URL: http://hdl.handle.net/10.3846/1611-1699.2008.9.53-56
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Handle: RePEc:taf:jbemgt:v:9:y:2007:i:1:p:53-56
Template-Type: ReDIF-Article 1.0
Author-Name: Vytautas Tvaronavičius
Author-X-Name-First: Vytautas
Author-X-Name-Last: Tvaronavičius
Author-Name: Manuela Tvaronavičiene
Author-X-Name-First: Manuela
Author-X-Name-Last: Tvaronavičiene
Title: Role of fixed investments in economic growth of country: Lithuania in European context
Abstract:
Abstract The paper aims to detect character of
relationship between fixed investments and economic growth in Lithuania
and predict plausible tendencies of further change of considered
variables. In order to achieve the indicated task, authors concentrate
themselves on two major questions. Firstly, quantitative relationships
between investments into major areas of economic activities and Lithuanian
economic growth are being estimated. Secondly, comparative analysis of
Lithuanian pattern of investment and randomly taken developed European
country is being performed. Authors seek to trace how the latter invested
during its process of development. Concrete period of observation is being
chosen taking into account the current level of Lithuanian economic
development. Authors seek to trace plausible consistent patterns of
development in terms of relationship between fixed investments and
economic growth as countries develop. Obtained results might allow
identifying the role of fixed investments, and, if to go further,
facilitating forecasts of possible trends of fixed investment and
corresponding economic growth.
Journal: Journal of Business Economics and Management
Pages: 57-64
Issue: 1
Volume: 9
Year: 2007
Month: 12
X-DOI: 10.3846/1611-1699.2008.9.57-64
File-URL: http://hdl.handle.net/10.3846/1611-1699.2008.9.57-64
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Handle: RePEc:taf:jbemgt:v:9:y:2007:i:1:p:57-64
Template-Type: ReDIF-Article 1.0
Author-Name: Borisas Melnikas
Author-X-Name-First: Borisas
Author-X-Name-Last: Melnikas
Title: Integral spaces in the European Union: Possible trends of the social, economic and technological integration in the Baltic region
Abstract:
Abstract Regional integration oriented transformations in
the Baltic region, as well as the unified social, economic and
technological space formation processes are described and analysed. These
processes are comprehended as an important factor of further social,
economic and technological modernization in the Baltic countries, as a
precondition for more intensive and active integration of Baltic economic
systems into the European and global economic and technological
structures, as well as a knowledge‐based society and knowledge
economy creation factor. The arguments determining the idea of the Baltic
region community and unity, as well as opposing arguments are evaluated.
The main principles of integration in the Baltic region, as well as the
possible integration strategies are analysed. The unified social, economic
and technological space in the Baltic region as a research area is
described.
Journal: Journal of Business Economics and Management
Pages: 65-77
Issue: 1
Volume: 9
Year: 2008
Month: 1
X-DOI: 10.3846/1611-1699.2008.9.65-77
File-URL: http://hdl.handle.net/10.3846/1611-1699.2008.9.65-77
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Handle: RePEc:taf:jbemgt:v:9:y:2008:i:1:p:65-77
Template-Type: ReDIF-Article 1.0
Author-Name: Romualdas Ginevičius
Author-X-Name-First: Romualdas
Author-X-Name-Last: Ginevičius
Title: Normalization of quantities of various dimensions
Abstract:
Abstract Currently used methods of multiple criteria
evaluation (MEM) based on the values obtained allow us to establish the
priority order of the considered object's alternatives. However, they do
not allow us to determine the values of multicriteria evaluation of a
particular alternative taken out of their context. This restricts the
range of MEM applications. To expand the application area of the methods,
we should know how the criteria of a particular alternative describing the
object considered which are expressed in different dimensions, can be
normalized. This can be achieved by dividing any different value by the
respective quantity of the same dimension. The task is complicated by the
fact that these quantities should be comparable for all the criteria.
Journal: Journal of Business Economics and Management
Pages: 79-86
Issue: 1
Volume: 9
Year: 2008
Month: 1
X-DOI: 10.3846/1611-1699.2008.9.79-86
File-URL: http://hdl.handle.net/10.3846/1611-1699.2008.9.79-86
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Handle: RePEc:taf:jbemgt:v:9:y:2008:i:1:p:79-86
Template-Type: ReDIF-Article 1.0
Author-Name: Galina V. Shirokova
Author-X-Name-First: Galina V.
Author-X-Name-Last: Shirokova
Author-Name: Dmitri Knatko
Author-X-Name-First: Dmitri
Author-X-Name-Last: Knatko
Title: Founder influences on the development of organizations: A comparison between founder and non‐founder managed Russian firms
Abstract:
Abstract The paper deals with the problem of
founders’ impact on the process of organizational development and
performance. The goal of the research is to provide a comparative analysis
of activity in founder‐run and non‐founder‐run
Russian firms. In order to run this analysis 224 companies created from
scratch by Russian entrepreneurs in the period of years from 1992 to 1998
were studied. Statistical analyses were performed on two independent
samples of companies, namely 162 companies managed by the founders and 62
companies that were run by hired professional managers. As a result of the
analysis, statistical differences were found in relation to the criteria
of number of employees and hierarchical levels; firms managed by founders
usually have less staff and fewer hierarchical levels than the
non‐founder companies. Nevertheless the dynamics in sales of the
two samples of founder and non‐founder companies during the last 3
years were quite similar.
Journal: Journal of Business Economics and Management
Pages: 91-95
Issue: 2
Volume: 9
Year: 2008
Month: 3
X-DOI: 10.3846/1611-1699.2008.9.91-95
File-URL: http://hdl.handle.net/10.3846/1611-1699.2008.9.91-95
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Handle: RePEc:taf:jbemgt:v:9:y:2008:i:2:p:91-95
Template-Type: ReDIF-Article 1.0
Author-Name: Aušra Jurkštiene
Author-X-Name-First: Aušra
Author-X-Name-Last: Jurkštiene
Author-Name: Valdone Darškuviene
Author-X-Name-First: Valdone
Author-X-Name-Last: Darškuviene
Author-Name: Arūnas Dūda
Author-X-Name-First: Arūnas
Author-X-Name-Last: Dūda
Title: Management control systemsand stakeholders’ interests in Lithuanian multinational companies: Cases from the telecommunications industry
Abstract:
Abstract The paper addresses the issue of introduction and
effectiveness of modern management control systems (MCS) in Lithuanian
enterprises controlled by foreign owners. Modern management control
systems are supposed to provide local management with useful information,
reflecting firm's performance from different stakeholders’
perspectives. However, the tools of management control sometimes fail in
providing with this main function. Thus, the question is raised as to the
extent to which performance management systems (PMS) are effective within
Lithuanian telecommunication companies, when they are implemented by
foreign parent companies in the rapidly changing environment of the
industry. The paper reports the findings of a survey of 78 top and middle
level managers of two telecommunication companies. Results of the research
indicate that differences in the effectiveness of MCS do exist due to the
specifics of governance structures within the telecommunication companies.
Nevertheless, it is concluded that, when used interactively, a PMS is
potentially effective even if a company operates in a rapidly changing
environment.
Journal: Journal of Business Economics and Management
Pages: 97-106
Issue: 2
Volume: 9
Year: 2008
Month: 3
X-DOI: 10.3846/1611-1699.2008.9.97-106
File-URL: http://hdl.handle.net/10.3846/1611-1699.2008.9.97-106
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Handle: RePEc:taf:jbemgt:v:9:y:2008:i:2:p:97-106
Template-Type: ReDIF-Article 1.0
Author-Name: Faizal Mohamed Yusof
Author-X-Name-First: Faizal Mohamed
Author-X-Name-Last: Yusof
Author-Name: Rozainun Abdul Aziz
Author-X-Name-First: Rozainun Abdul
Author-X-Name-Last: Aziz
Title: Strategic adaptation and the value of forecasts: The development of a conceptual framework
Abstract:
Abstract This paper examines the lack of emphasis on the
value of forecasts in strategic adaptation frameworks. The objective of
this paper is to offer a conceptual framework of strategic adaptation that
incorporates and emphasizes the value of forecasts. In developing the
framework, we incorporate three different studies. Eunni's model (2003)
purports to rank companies with high strategic adaptation ability in an
industry. Further, in developing our framework, we specifically link the
contributions of Lawrence et al. (2006) and Mentzer
et al. (1996, 1999). Our study highlights that companies
with high strategic adaptation ability need to be examined further in
order to understand and take on board how they withstand the volatile
market. It is intended that the conceptual framework, driven by previous
studies and the current scenario, will offer a better direction for
companies to adapt towards an objective indicator of the value of
forecasts for strategic purposes.
Journal: Journal of Business Economics and Management
Pages: 107-114
Issue: 2
Volume: 9
Year: 2008
Month: 3
X-DOI: 10.3846/1611-1699.2008.9.107-114
File-URL: http://hdl.handle.net/10.3846/1611-1699.2008.9.107-114
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Handle: RePEc:taf:jbemgt:v:9:y:2008:i:2:p:107-114
Template-Type: ReDIF-Article 1.0
Author-Name: Jari Jumpponen
Author-X-Name-First: Jari
Author-X-Name-Last: Jumpponen
Author-Name: Markku Ikävalko
Author-X-Name-First: Markku
Author-X-Name-Last: Ikävalko
Author-Name: Timo Pihkala
Author-X-Name-First: Timo
Author-X-Name-Last: Pihkala
Title: Management and change in turbulent times: How do Russian small business managers perceive the development of their business environment?
Abstract:
Abstract This paper focuses on the management of small
businesses in Russia. Despite the growing importance of the Russian small
business sector, there are surprisingly few empirical studies focusing on
this topic. As the business environment in Russia is repeatedly noted to
be in constant change, the purpose of the paper is to explore Russian
owner‐managers perceptions of the development of their business
environment from 2000 to 2004. The paper reports the results of a survey
conducted among 164 business managers in North‐West Russia. The
results indicate that Russian owner‐managers tend to monitor
changes in the business environment and adapt their management
accordingly, if not beforehand. However, the results are not unambiguous,
as the study found wide variations in the extent to which gap the managers
monitored and adapted to perceived changes in the business environment.
Journal: Journal of Business Economics and Management
Pages: 115-122
Issue: 2
Volume: 9
Year: 2008
Month: 3
X-DOI: 10.3846/1611-1699.2008.9.115-122
File-URL: http://hdl.handle.net/10.3846/1611-1699.2008.9.115-122
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Handle: RePEc:taf:jbemgt:v:9:y:2008:i:2:p:115-122
Template-Type: ReDIF-Article 1.0
Author-Name: Christopher J. Rees
Author-X-Name-First: Christopher J.
Author-X-Name-Last: Rees
Author-Name: Rashid Althakhri
Author-X-Name-First: Rashid
Author-X-Name-Last: Althakhri
Title: Organizational change strategies in the Arab region: A review of critical factors
Abstract:
Abstract This conceptual paper explores the subject of
organizational change in the Arab region with particular reference to
cultural influences on organizational change initiatives in this region.
The paper offers a review of a set of studies which focus on
organizational change in Arab countries and proceeds to discuss change
initiatives with reference to factors such as Islam and tribalism. A key
issue that emerges from the paper is the paradox between Western
approaches to change which emphasize collaborative and participative
approaches to change management, and the more directive and hierarchical
approaches to management associated with national cultures in the Arab
region. Areas for future research are identified in the conclusion
section.
Journal: Journal of Business Economics and Management
Pages: 123-132
Issue: 2
Volume: 9
Year: 2008
Month: 3
X-DOI: 10.3846/1611-1699.2008.9.123-132
File-URL: http://hdl.handle.net/10.3846/1611-1699.2008.9.123-132
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Handle: RePEc:taf:jbemgt:v:9:y:2008:i:2:p:123-132
Template-Type: ReDIF-Article 1.0
Author-Name: Konstantin Timoshenko
Author-X-Name-First: Konstantin
Author-X-Name-Last: Timoshenko
Title: Russian public sector reform: The impact on university accounting
Abstract:
Abstract The last few decades have witnessed substantial
efforts to reinvent the state worldwide. The Russian state is no exception
to this global trend. At the outset of a new millennium, the need for
renewal of the post‐Soviet model of the state has been
acknowledged, and an up‐to‐date reform package has been
promoted by the central government. This has encompassed the
reconstruction of public sector accounting. Given the paucity of
consistent research efforts on the topic, this article seeks to describe
and analyze, and by so doing, contribute to knowledge about Russian public
sector accounting in times of change. To tackle the general purpose, two
levels are incorporated in this study to link reform initiatives for the
government as a whole with those endeavours to implement them in one
state‐sponsored university of Russian tertiary education. The major
questions to be addressed are of whether, why, and how changes at the
central government level have penetrated down to the university and
extended to its accounting system. The evidence gathered in this paper
reveals that a new Russian public sector ideology has markedly been
affected by overseas developments in the shape of large international
organizations. However, no compelling evidence has been documented in this
research as unveiling that changes at the macro‐level have
penetrated down to the university to any significant extent. This study
concludes that launching a new version of accounting by the Russian state
can be regarded as more of a symbol of legitimacy for the university
rather than of an actual financial management tool.
Journal: Journal of Business Economics and Management
Pages: 133-144
Issue: 2
Volume: 9
Year: 2008
Month: 3
X-DOI: 10.3846/1611-1699.2008.9.133-144
File-URL: http://hdl.handle.net/10.3846/1611-1699.2008.9.133-144
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Handle: RePEc:taf:jbemgt:v:9:y:2008:i:2:p:133-144
Template-Type: ReDIF-Article 1.0
Author-Name: Mariana Bogdanova
Author-X-Name-First: Mariana
Author-X-Name-Last: Bogdanova
Title: Cross‐national mentoring ngos in transition societies: Field research and developments in Bulgaria
Abstract:
Abstract Non‐governmental organizations (NGOs) in
societies undergoing socio‐economic transition are widely regarded
as central to building a civil society that encourages democracy. At the
moment, the Bulgarian civil society depends greatly on foreign funding
whilst NGOs are unable to empower their beneficiaries in
decision‐making. Given this reality, are cross‐national NGO
partnerships able to strengthen organisations? What kinds of support are
on offer, what kinds of (inter) dependency relations occur and to what
extent do NGOs model their management practices on their mentor and with
what results? This paper sets out to situate these questions in the
context of a proposed theoretical construct, organizational mentoring,
which occurs where national or local organisations have access to and
support of well‐established NGOs abroad. The model is constructed
on the findings of a qualitative case study conducted in Bulgaria on the
development of a Bulgarian NGO and its relationship with a UK NGO. This is
preceded by a discussion on selected literature reflecting the meaning of
transition, change in societal values and organizational practices in
Eastern Europe, and the development of voluntary sector organizations in
transforming countries. The theoretical model proposed here is relevant in
providing a systematic discussion on organizational change towards a more
enlightened engagement between civil society organizations in
cross‐national partnerships. Such discussion has implications for
the development of hybrid forms of coexistence between Eastern and Western
European partners reflected in their interdependent organizational
practices.
Journal: Journal of Business Economics and Management
Pages: 145-154
Issue: 2
Volume: 9
Year: 2008
Month: 3
X-DOI: 10.3846/1611-1699.2008.9.145-154
File-URL: http://hdl.handle.net/10.3846/1611-1699.2008.9.145-154
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Template-Type: ReDIF-Article 1.0
Author-Name: Vilmante Kumpikaite
Author-X-Name-First: Vilmante
Author-X-Name-Last: Kumpikaite
Author-Name: Ramune Čiarniene
Author-X-Name-First: Ramune
Author-X-Name-Last: Čiarniene
Title: New training technologies and their use in training and development activities: Survey evidence from Lithuania
Abstract:
Abstract There is emerging evidence that new technologies
are related to improvements in productivity. Nevertheless, in considering
the relationship between new technology and productivity, it is vital to
consider human resource management and development issues due to their
mediating effects on the relationship between new technology and
productivity. This paper focuses on training technologies, especially
e‐learning. The increasing use of new technologies to deliver
training and to store and communicate knowledge means that trainers must
be technologically literate. That is, they must understand the strengths
and weaknesses of new technologies and implementation issues such as
overcoming users’ resistance to change. The paper reports the
findings of a study of 724 Lithuanian employees, which revealed relatively
weak usage of new technologies and e‐learning in human resource
development processes.
Journal: Journal of Business Economics and Management
Pages: 155-159
Issue: 2
Volume: 9
Year: 2008
Month: 2
X-DOI: 10.3846/1611-1699.2008.9.155-159
File-URL: http://hdl.handle.net/10.3846/1611-1699.2008.9.155-159
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Handle: RePEc:taf:jbemgt:v:9:y:2008:i:2:p:155-159
Template-Type: ReDIF-Article 1.0
Author-Name: Claudia Ogrean
Author-X-Name-First: Claudia
Author-X-Name-Last: Ogrean
Author-Name: Mihaela Herciu
Author-X-Name-First: Mihaela
Author-X-Name-Last: Herciu
Author-Name: Lucian Belaşcu
Author-X-Name-First: Lucian
Author-X-Name-Last: Belaşcu
Title: Searching for new paradigms in a globalized world: Business ethics as a management strategy
Abstract:
Abstract The process of globalization is an undeniable
reality of today's world. Yet, paradoxically, the cornerstone of this
phenomenon, economic performance, varies widely across the world whatever
indicator (for example, GDP/habitant, competitiveness) we choose to use to
compare countries. Increasingly, studies tend to explain this apparently
paradoxical situation with reference to the issue of corruption and
ethics. In essence, corruption is perceived to be an important impediment
to the economic development of a country (or area). Many studies of
corruption are focused at the national level. The aim of this conceptual
paper is to explore the role of the firm (as opposed to national states or
international institutions) as an influence on national corruption. We
call for firms to reconsider their behavior regarding corruption,
particularly in relation to their relationships with their stakeholders.
We argue that by focusing on issues such as cooperation and stakeholder
theory, a firm will change the way it does businesses by reducing
private‐to‐public as well as
private‐to‐private corruption and incorporating business
ethics into its management strategies.
Journal: Journal of Business Economics and Management
Pages: 161-165
Issue: 2
Volume: 9
Year: 2008
Month: 2
X-DOI: 10.3846/1611-1699.2008.9.161-165
File-URL: http://hdl.handle.net/10.3846/1611-1699.2008.9.161-165
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Handle: RePEc:taf:jbemgt:v:9:y:2008:i:2:p:161-165
Template-Type: ReDIF-Article 1.0
Author-Name: Romualdas Ginevičius
Author-X-Name-First: Romualdas
Author-X-Name-Last: Ginevičius
Author-Name: Valentinas Podvezko
Author-X-Name-First: Valentinas
Author-X-Name-Last: Podvezko
Author-Name: Šarūnas Bruzge
Author-X-Name-First: Šarūnas
Author-X-Name-Last: Bruzge
Title: Evaluating the effect of state aid to business by multicriteria methods
Abstract:
Abstract One of the forms of state intervention in market
development is state aid (subsidies) to private sector enterprises. Over
the period of 2004--2006, a great part of the EU aid was granted to
business in Lithuania through the EU structural funds. State aid is a
complicated phenomenon. It may have several aims, with none of them being
dominant. The effects of this aid may also be varied and hardly described
by a single criterion or indicator. Therefore, multiple criteria
evaluation methods can be used to compare the aid to various businesses
and to determine its effect on their development objectively. The analysis
of state subsidies to enterprises based on these methods allowed us to
state that the aid had the greatest effect on the development of projects
in the areas of production, research, experiments and education. The most
influencing factor is aid intensity (the more intensive the aid, the
greater the effect), while the best ratios of investments to the effect
obtained was found in the area of educational projects, followed by
research, experimental and production projects. The aid to enterprises
providing services was the least effective. The results obtained in
multicriteria evaluation of state aid to business show that these methods
are well suited to the analysis of this phenomenon, providing an objective
view of the picture.
Journal: Journal of Business Economics and Management
Pages: 167-180
Issue: 3
Volume: 9
Year: 2008
Month: 8
X-DOI: 10.3846/1611-1699.2008.9.167-180
File-URL: http://hdl.handle.net/10.3846/1611-1699.2008.9.167-180
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Handle: RePEc:taf:jbemgt:v:9:y:2008:i:3:p:167-180
Template-Type: ReDIF-Article 1.0
Author-Name: Edmundas Kazimieras Zavadskas
Author-X-Name-First: Edmundas Kazimieras
Author-X-Name-Last: Zavadskas
Author-Name: Zenonas Turskis
Author-X-Name-First: Zenonas
Author-X-Name-Last: Turskis
Author-Name: Jolanta Tamošaitiene
Author-X-Name-First: Jolanta
Author-X-Name-Last: Tamošaitiene
Title: Contractor selection of construction in a competitive environment
Abstract:
Abstract Contractor selection is a vital part of the
project management cycle and deals with risk and risk management. This
paper presents contractors’ assessment and selection based on the
multi‐attribute methods in a competitive and risky environment. The
model is based on a multi‐attribute evaluation of contractors, the
determination of their optimality criterion values according to
Hodges‐Lehmann rule. The proposed model could be applied to
assessment of construction operations. The attributes of contractor
evaluation are selected taking into consideration the interests and goals
of the stakeholders as well as factors that influence the process of
construction efficiency. The model is based on metric scores. A background
and a description of the proposed model are provided and a few key
findings from the data analyses are presented.
Journal: Journal of Business Economics and Management
Pages: 181-187
Issue: 3
Volume: 9
Year: 2008
Month: 8
X-DOI: 10.3846/1611-1699.2008.9.181-187
File-URL: http://hdl.handle.net/10.3846/1611-1699.2008.9.181-187
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Handle: RePEc:taf:jbemgt:v:9:y:2008:i:3:p:181-187
Template-Type: ReDIF-Article 1.0
Author-Name: Jeffrey E. Jarrett
Author-X-Name-First: Jeffrey E.
Author-X-Name-Last: Jarrett
Author-Name: Janne Schilling
Author-X-Name-First: Janne
Author-X-Name-Last: Schilling
Title: Daily variation and predicting stock market returns for the frankfurter börse (stock market)
Abstract:
Abstract In this article we test the random walk
hypothesis in the German daily stock prices by means of a unit root test
and the development of an ARIMA model for prediction. The results show
that the time series of daily stock returns for a stratified random sample
of German firms listed on the stock exchange of Frankfurt exhibit unit
roots. Also, we find that one may predict changes in the returns to these
listed stocks. These time series exhibit properties which are forecast
able and provide the intelligent data analysts’ methods to better
predict the directive of individual stock returns for listed German firms.
The results of this study, though different from most other studies of
other stock markets, indicate the Frankfurt stock market behaves in
similar ways to North American, other European and Asian markets
previously studied in the same manner.
Journal: Journal of Business Economics and Management
Pages: 189-198
Issue: 3
Volume: 9
Year: 2008
Month: 3
X-DOI: 10.3846/1611-1699.2008.9.189-198
File-URL: http://hdl.handle.net/10.3846/1611-1699.2008.9.189-198
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Handle: RePEc:taf:jbemgt:v:9:y:2008:i:3:p:189-198
Template-Type: ReDIF-Article 1.0
Author-Name: Abderrazak Dhaoui
Author-X-Name-First: Abderrazak
Author-X-Name-Last: Dhaoui
Title: R&D diversification in MNCs: Between earnings management and shareholders increasing wealth
Abstract:
Abstract This paper examines the impact of the R&D
geographic diversification on the shareholders’ wealth (as measured
appreciatively by the firm's market value) and on the earnings management
as a mechanism of manager's entrainment. Using a sample of 460
firm‐year observations for multinational firms over the 2002--2006
period, we find that the R&D decentralization may enhance the
shareholders’ wealth and increase the managers’ one. The
results show that the R&D geographic diversification increases the
informational asymmetry and support the emergence of the favourable
conditions for the earnings management and the managers’
entrainment. It may increase the managers’ autonomy which likely
allows them to manage the result in order to increase their own wealth and
destruct the shareholder's one.
Journal: Journal of Business Economics and Management
Pages: 199-205
Issue: 3
Volume: 9
Year: 2008
Month: 6
X-DOI: 10.3846/1611-1699.2008.9.199-205
File-URL: http://hdl.handle.net/10.3846/1611-1699.2008.9.199-205
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Handle: RePEc:taf:jbemgt:v:9:y:2008:i:3:p:199-205
Template-Type: ReDIF-Article 1.0
Author-Name: Romualdas Ginevičius
Author-X-Name-First: Romualdas
Author-X-Name-Last: Ginevičius
Author-Name: Algirdas Krivka
Author-X-Name-First: Algirdas
Author-X-Name-Last: Krivka
Title: Application of game theory for duopoly market analysis
Abstract:
Abstract The paper provides the analysis of game theory
models application to identify duopoly market equilibrium (quantities sold
and market prices), to evaluate and compare the results of enterprises in
a market. The purpose of the analysis is to determine to what extent
theoretical models correspond to real life, that is how reliable they are
in supporting and estimating decisions of duopoly companies, fortifying
market prices and quantities sold, evaluating company's competing
positions and possibilities for decision co‐ordination. To describe
discrete strategies equilibrium the “Prisoner's Dilemma”
model is applied to a hypothetic market entrance game with possible side
payments. Further analysis of the market entrance game incorporates mixed
strategies based “Matching Pennies” model in case discrete
strategies equilibrium does not exist. Continuous strategies are described
analyzing hypothetic duopoly by applying Cournot, Stackelberg and Bertrand
models. The first and the second mover advantage issues are raised
comparing outcomes of dynamic Stackelberg and Bertrand games for a leader
and a follower. Stability and utility of cartel agreement for its
participants is mathematically supported with the help of a
multi‐step repeated Cournot game. Having described, compared and
applied the main game theory models to artificial duopoly market
situations, the author passes over to the comparative analysis of the
models’ weaknesses and problems related to their practical
application.
Journal: Journal of Business Economics and Management
Pages: 207-217
Issue: 3
Volume: 9
Year: 2008
Month: 5
X-DOI: 10.3846/1611-1699.2008.9.207-217
File-URL: http://hdl.handle.net/10.3846/1611-1699.2008.9.207-217
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Handle: RePEc:taf:jbemgt:v:9:y:2008:i:3:p:207-217
Template-Type: ReDIF-Article 1.0
Author-Name: Sławomir Biruk
Author-X-Name-First: Sławomir
Author-X-Name-Last: Biruk
Author-Name: Piotr Jaśkowski
Author-X-Name-First: Piotr
Author-X-Name-Last: Jaśkowski
Title: Simulation modelling construction project with repetitive tasks using Petri nets theory
Abstract:
Abstract Resources selection and allocation at the project
planning stage is an important issue for reducing project cost, duration
and risk. Existing planning and scheduling methods overlook aspects of
limited production capacity of construction companies (contractors) due to
the fact that they are simultaneously engaged in realization of some
projects. This paper presents a new methodology for project scheduling
with repetitive processes using Petri nets based approach. The paper
starts with an overview of current developments in the Petri nets theory.
We then propose an efficient computational method based on simulation of
Petri net model for construction project planning and subcontractor
agreement analysis. An example of construction project simulation research
is presented to illustrate the method of project planning and resources
allocation.
Journal: Journal of Business Economics and Management
Pages: 219-226
Issue: 3
Volume: 9
Year: 2008
Month: 3
X-DOI: 10.3846/1611-1699.2008.9.219-226
File-URL: http://hdl.handle.net/10.3846/1611-1699.2008.9.219-226
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Handle: RePEc:taf:jbemgt:v:9:y:2008:i:3:p:219-226
Template-Type: ReDIF-Article 1.0
Author-Name: Manuela Tvaronavičiene
Author-X-Name-First: Manuela
Author-X-Name-Last: Tvaronavičiene
Author-Name: Virginija Grybaite
Author-X-Name-First: Virginija
Author-X-Name-Last: Grybaite
Author-Name: Renata Korsakiene
Author-X-Name-First: Renata
Author-X-Name-Last: Korsakiene
Title: Foreign capital destinations: Baltic States versus India
Abstract:
Abstract The presented paper aims to elaborate which
factors have the biggest influence on investment decisions while choosing
between India and the new EU members ‐ Lithuania, Latvia and
Estonia. For analysis purpose the Baltic States have been juxtaposed to
India, as the latter represents emerging market, and, according to almost
unanimous prognosis, is one of the main FDI destinations for the nearest
future. The Baltic States are considered as attractive recent entrants of
the EU demonstrating high growth and representing new unsaturated market.
FDI inflows into those rather different countries started in approximately
1991, thus driving forces behind international capital movement serve as
object of scientific interest. The data retrieved and used for
considerations embraces period from 1999 to 2008. Authors ground premises
about significance of certain sets of driving factors and use
multi‐criteria evaluation methods to indicate driving forces
determining propensity to invest into the Baltic States’ region and
India. Results of speculative analysis are supposed to add to better
understanding of contemporary investment behaviour of
well‐developed economies.
Journal: Journal of Business Economics and Management
Pages: 227-234
Issue: 3
Volume: 9
Year: 2008
Month: 4
X-DOI: 10.3846/1611-1699.2008.9.227-234
File-URL: http://hdl.handle.net/10.3846/1611-1699.2008.9.227-234
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Handle: RePEc:taf:jbemgt:v:9:y:2008:i:3:p:227-234
Template-Type: ReDIF-Article 1.0
Author-Name: Edmundas K. Zavadskas
Author-X-Name-First: Edmundas K.
Author-X-Name-Last: Zavadskas
Author-Name: Valentinas Podvezko
Author-X-Name-First: Valentinas
Author-X-Name-Last: Podvezko
Title: Book reviews
Abstract:
DESIGN AND APPLICATION OF INTELLIGENT INFORMATION SYSTEMS
Reviewed book: Dalé Dzemydiené.
Intelektualizuotų informacinių sistemų
projektavimas ir taikymas: monografija. Vilnius: Mykolo Romerio
universiteto leidybos centras, 2006. 352 p. [Design and Application of
Intelligent Information Systems, ISBN: 9955-19-051-5 in
Lithuanian]. GAME THEORY IN BUILDING TECHNOLOGY AND MANAGEMENT
Reviewed book: E. K. Zavadskas, F.
Peldschus, L. Ustinovičius, Z. Turskis. Lošimų
teorija statybos technologijoje ir vadyboje. Vilnius: Technika,
2004 [Game Theory in Building Technology and Management, ISBN:
9986-05-700-0 in Lithuanian]. METHODS AND MODELS OF
RESEARCH IN CONSTRUCTION PROJECT ENGINEERING Reviewed
book: Oleg Kapliński (Eds.). Methody i
modele badań w inžynierii przedsięwzięć
budowlanych. Polska akademia nauk, komitet inžynierii
lądowej i wodnej, Warszawa, 2007 [Methods and Models of Research in
Construction Project Engineering, ISBN: 978-83-89687-22-7, ISSN: 0137-5393
in Polish].
Journal: Journal of Business Economics and Management
Pages: 235-243
Issue: 3
Volume: 9
Year: 2008
Month: 1
X-DOI: 10.3846/1611-1699.2008.9.235-236
File-URL: http://hdl.handle.net/10.3846/1611-1699.2008.9.235-236
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Handle: RePEc:taf:jbemgt:v:9:y:2008:i:3:p:235-243
Template-Type: ReDIF-Article 1.0
Author-Name: Willem Karel M. Brauers
Author-X-Name-First: Willem Karel M.
Author-X-Name-Last: Brauers
Author-Name: Edmundas Kazimieras Zavadskas
Author-X-Name-First: Edmundas Kazimieras
Author-X-Name-Last: Zavadskas
Author-Name: Zenonas Turskis
Author-X-Name-First: Zenonas
Author-X-Name-Last: Turskis
Author-Name: Tatjana Vilutiene
Author-X-Name-First: Tatjana
Author-X-Name-Last: Vilutiene
Title: Multi‐objective contractor's ranking by applying the Moora method
Abstract:
Abstract Construction, taking off, maintenance and
facilities management of a building is a typical example of consumer
sovereignty: the new owner likes to have a reasonable price to pay, to
have confidence in the contractor, to know about the duration of the
works, the service after completion and the quality of the work. On the
other side the contractor has his objectives too, like the satisfaction of
the client, diminishing of external costs and annoyances and the
management cost per employee as low as possible. In other words it
concerns a problem of multi‐objectives. Therefore a final ranking
will show the best performing contractor from the point of view of the
clients but also from the point of view of the contractors themselves. The
MOORA method based on ratio analysis and dimensionless measurement will
accomplish the job of ranking the contractors in a non‐subjective
way. As an application the largest maintenance contractors of dwellings in
Vilnius, capital of Lithuania, were approached.
Journal: Journal of Business Economics and Management
Pages: 245-255
Issue: 4
Volume: 9
Year: 2008
Month: 7
X-DOI: 10.3846/1611-1699.2008.9.245-255
File-URL: http://hdl.handle.net/10.3846/1611-1699.2008.9.245-255
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Handle: RePEc:taf:jbemgt:v:9:y:2008:i:4:p:245-255
Template-Type: ReDIF-Article 1.0
Author-Name: Romualdas Ginevičius
Author-X-Name-First: Romualdas
Author-X-Name-Last: Ginevičius
Author-Name: Valentinas Podvezko
Author-X-Name-First: Valentinas
Author-X-Name-Last: Podvezko
Title: Multicriteria evaluation of Lithuanian banks from the perspective of their reliability for clients
Abstract:
Abstract In recent years, efforts have been made to rank
banks according to their reliability. However, the methods used for this
purpose are not accurate. The analysis shows that reliability of banks is
a complex phenomenon which can only be described by a set of criteria. The
task is complicated by the fact that the criteria used have various
dimensions as well as being oppositely directed. To solve the above
problems, multicriteria evaluation methods, allowing the values of all the
criteria of different dimensions and changeability to be integrated into a
single generalized quantity, may be used.
Journal: Journal of Business Economics and Management
Pages: 257-267
Issue: 4
Volume: 9
Year: 2008
Month: 7
X-DOI: 10.3846/1611-1699.2008.9.257-267
File-URL: http://hdl.handle.net/10.3846/1611-1699.2008.9.257-267
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Handle: RePEc:taf:jbemgt:v:9:y:2008:i:4:p:257-267
Template-Type: ReDIF-Article 1.0
Author-Name: Irena Mačerinskiene
Author-X-Name-First: Irena
Author-X-Name-Last: Mačerinskiene
Author-Name: Laura Ivaškevičiūte
Author-X-Name-First: Laura
Author-X-Name-Last: Ivaškevičiūte
Title: The evaluation model of a commercial bank loan portfolio
Abstract:
Abstract As in other countries where the traditional
banking is dominating, the major part of banks’ assets and loan
interest income makes a significant share of banks’ income.
Inappropriate loan portfolio evaluation might have negative impact on a
commercial bank's performance, the overall banking system, and the
economic growth of the country. It is not enough for a bank to have a
precise strategy, high lending culture, and observance of general
principles to ensure the further growth of profitable loans. It is
necessary to apply various evaluation methods of historical and present
data, of ratios and factors enabling to implement coherent and
comprehensive loan portfolio evaluation, and to encompass different
factors as far as possible. Due to a complex business environment and
intense competition between banks, it is not enough to evaluate a
commercial bank loan portfolio only through the aspect of credit risk,
i.e. loss probability level aspect, as is suggested by the scientists. As
to every business subject striving for a successful performance and
further development, it is essential for a bank to earn profit by
financing the other subjects, and to establish the level of assets
liquidity.
Journal: Journal of Business Economics and Management
Pages: 269-277
Issue: 4
Volume: 9
Year: 2008
Month: 9
X-DOI: 10.3846/1611-1699.2008.9.269-277
File-URL: http://hdl.handle.net/10.3846/1611-1699.2008.9.269-277
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Handle: RePEc:taf:jbemgt:v:9:y:2008:i:4:p:269-277
Template-Type: ReDIF-Article 1.0
Author-Name: Jeanette Thomsen
Author-X-Name-First: Jeanette
Author-X-Name-Last: Thomsen
Title: Processes of localization and institutionalization of local managers in economic functions in Danish owned subsidiaries in Estonia, Latvia and Lithuania around the 21-super-st century
Abstract:
Abstract This study identifies interplay between the
localization processes and formal as well as informal institutions in a
specific context. Particularly the changes over time in institutions and
localization processes are in focus. A longitudinal study of institutional
changes in local management has been conducted from 1997 to 2002 among
local CEOs, chief accountants and production managers in a Danish SME,
using mainly qualitative methods. Data have been compared to primary data
from similar companies in Estonia, Latvia and Lithuania. The study has
resulted in establishing a model for comparing interplay between
localization processes in SMEs and the formal and informal institutions in
different transition and post‐transition economies.
Journal: Journal of Business Economics and Management
Pages: 279-287
Issue: 4
Volume: 9
Year: 2008
Month: 8
X-DOI: 10.3846/1611-1699.2008.9.279-287
File-URL: http://hdl.handle.net/10.3846/1611-1699.2008.9.279-287
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Template-Type: ReDIF-Article 1.0
Author-Name: Ruth Alas
Author-X-Name-First: Ruth
Author-X-Name-Last: Alas
Title: Implementation of organizational changes in Estonian companies
Abstract:
Abstract Both the popular press and academic literature
tend to consider organizational change as a step‐by‐step
process leading to success. This paper examines the suitability of the
theory that guides the implementation of change at company level for
organizations in countries in transition. The author's surveys, conducted
in 137 Estonian companies in 2001 and 121 in 2005, show that the main
focus of Estonian managers has been on initiating change and much less
attention paid to assessing the process of change and making modifications
and consolidating improvements. A process model of change for countries in
transition has been proposed.
Journal: Journal of Business Economics and Management
Pages: 289-297
Issue: 4
Volume: 9
Year: 2008
Month: 10
X-DOI: 10.3846/1611-1699.2008.9.289-297
File-URL: http://hdl.handle.net/10.3846/1611-1699.2008.9.289-297
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Template-Type: ReDIF-Article 1.0
Author-Name: Vida Davidavičiene
Author-X-Name-First: Vida
Author-X-Name-Last: Davidavičiene
Title: Change management decisions in the information age
Abstract:
Abstract The work under new conditions of ICT development
has not only advantages, but also causes certain challenges and new
conflicts within an organization. There is a direct link between the
development of ICT and business management theories. Inadequacy of models
applied in change management and current market requirements can determine
the decrease of competitive ability for the business organizations in the
ICT caused business environment, what can cause loss of potential markets.
The relations between ICT and business in the development processes and
trends must be determined in order to avoid the gaps in business
management methods in the future. While the schemes for evaluation and
selection of alternative decisions are given much attention in the
strategic management literature, the attention given to the specific
implementation and the practical application of change management
decisions methods is not sufficient. These circumstances frame the
topicality of this subject.
Journal: Journal of Business Economics and Management
Pages: 299-307
Issue: 4
Volume: 9
Year: 2008
Month: 9
X-DOI: 10.3846/1611-1699.2008.9.299-307
File-URL: http://hdl.handle.net/10.3846/1611-1699.2008.9.299-307
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Handle: RePEc:taf:jbemgt:v:9:y:2008:i:4:p:299-307
Template-Type: ReDIF-Article 1.0
Author-Name: John Saee
Author-X-Name-First: John
Author-X-Name-Last: Saee
Title: Best practice in global negotiation strategies for leaders and managers in the 21-super-st century
Abstract:
Abstract This research article examines various types of
negotiations and negotiation styles and best practice in global
negotiations, which may be adopted by leaders and entrepreneurs under
different conditions and cultural milieus to reach an agreement while
conducting business across the globe.
Journal: Journal of Business Economics and Management
Pages: 309-318
Issue: 4
Volume: 9
Year: 2008
Month: 9
X-DOI: 10.3846/1611-1699.2008.9.309-318
File-URL: http://hdl.handle.net/10.3846/1611-1699.2008.9.309-318
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Handle: RePEc:taf:jbemgt:v:9:y:2008:i:4:p:309-318
Template-Type: ReDIF-Article 1.0
Author-Name: Irina Voronova
Author-X-Name-First: Irina
Author-X-Name-Last: Voronova
Title: Methods of analysis and estimation of risks at the enterprises of non‐financial sphere of Latvia
Abstract:
Abstract The author considers the problems of analysis and
assessment of risks at the enterprises of non‐financial sphere
basing on tactical standards of risk management. The author studies the
development and impact of the theory of economic cycles on the system of
risks in entrepreneurship of Chizhevsky's and Kondratjev's temporary
cycles that are at the same time space cycles. The author expresses their
attitude to the opportunity of using autogenetic and risks identification.
As‐trolinguistics studies the nature of changes in macroeconomic
environment on the basis of information about the mutual position of the
solar system's planets in the process of their motion. This paper
discusses how variety of scope methods may be applied for assessment of
the profile of risks at the enterprise.
Journal: Journal of Business Economics and Management
Pages: 319-326
Issue: 4
Volume: 9
Year: 2008
Month: 10
X-DOI: 10.3846/1611-1699.2008.9.319-326
File-URL: http://hdl.handle.net/10.3846/1611-1699.2008.9.319-326
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Handle: RePEc:taf:jbemgt:v:9:y:2008:i:4:p:319-326
Template-Type: ReDIF-Article 1.0
Author-Name: Virginija Grybaite
Author-X-Name-First: Virginija
Author-X-Name-Last: Grybaite
Author-Name: Manuela Tvaronavičiene
Author-X-Name-First: Manuela
Author-X-Name-Last: Tvaronavičiene
Title: Estimation of sustainable development: Germination on institutional level
Abstract:
Abstract The aim of the paper is to investigate approaches
to measurement of sustainable development adopted by international
organizations, or institutions. Organizations for sustainable development
were founded to review progress at the international, regional and
national levels in the implementation of sustainable development policy,
to take part in legislative process, to control balance between economic
development, social development, and environmental development. Valid
systems and classifications of sustainable development are being
juxtaposed, specific features, advantages and disadvantages revealed. The
question, if the systems of indicators provided by considered institutions
are applicable for practical analytical purposes, is being raised.
Journal: Journal of Business Economics and Management
Pages: 327-334
Issue: 4
Volume: 9
Year: 2008
Month: 5
X-DOI: 10.3846/1611-1699.2008.9.327-334
File-URL: http://hdl.handle.net/10.3846/1611-1699.2008.9.327-334
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Handle: RePEc:taf:jbemgt:v:9:y:2008:i:4:p:327-334
Template-Type: ReDIF-Article 1.0
Author-Name: Edmundas K. Zavadskas
Author-X-Name-First: Edmundas K.
Author-X-Name-Last: Zavadskas
Title: Book reviews
Abstract:
OPTIMIZATION METHODS FOR A STAKEHOLDER SOCIETY Reviewed
book: Willem K. Brauers. Optimization Methods for
a Stakeholder Society: A Revolution in Economic Thinking by
Multi‐objective Optimization. Boston / Dordrecht / London:
Kluwer Academic Publishers, 2004.
Journal: Journal of Business Economics and Management
Pages: 335-337
Issue: 4
Volume: 9
Year: 2008
Month: 5
X-DOI: 10.3846/1611-1699.2008.9.335-337
File-URL: http://hdl.handle.net/10.3846/1611-1699.2008.9.335-337
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Handle: RePEc:taf:jbemgt:v:9:y:2008:i:4:p:335-337
Template-Type: ReDIF-Article 1.0
Author-Name: Edvins Karnitis
Author-X-Name-First: Edvins
Author-X-Name-Last: Karnitis
Author-Name: Maris Kucinskis
Author-X-Name-First: Maris
Author-X-Name-Last: Kucinskis
Title: Strategic planning and management of national development processes in Latvia
Abstract:
Abstract Thanks to achieved productive collaboration of
the highest level government institutions with the academic community
experts, a national strategic planning system is shaping that is very
significant for further development of Latvia. General principles of the
system have been approved by the Law on Development Planning
System. The conceptual document A Growth Model for
Latvia: People First defines a knowledge‐based
human‐centred development scenario. The National
Development Plan has been approved as a mid‐term programme
for implementation of the Model. To monitor progress towards the goal an
integrated quantified quality of life index was developed; the index
includes priorities essential for Latvia's population and it is based on
objective statistical data. Polycentric development and strong cooperation
in the Baltic Sea Region are priorities among strategic tasks that have
been outlined to realize the growth. But the current two‐faced EU
model cannot be evaluated as the most optimum and beneficial for
development of Latvia as well as other EU Member States.
Journal: Journal of Business Economics and Management
Pages: 3-13
Issue: 1
Volume: 10
Year: 2008
Month: 11
X-DOI: 10.3846/1611-1699.2009.10.3-13
File-URL: http://hdl.handle.net/10.3846/1611-1699.2009.10.3-13
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Template-Type: ReDIF-Article 1.0
Author-Name: Devrim Dumludag
Author-X-Name-First: Devrim
Author-X-Name-Last: Dumludag
Title: An analysis of the determinants of foreign direct investment in turkey: The role of the institutional context-super-1
Abstract:
Abstract This paper tries to empirically verify the
argument that institutional factors such as enforcement mechanisms,
political and economic stability, stable and reliable, transparent legal
and regulatory framework and corruption are critical in explaining the
behaviour of the foreign direct investment inflows in Turkey. The main
objective of the study is to ascertain the nature of the obstacles and
impediments to the greater flow of foreign direct investments into Turkish
economy for the recent period by focusing on the results of a
questionnaire applied to the executives of 52 multinational corporations
operating in Turkey in 2006.
Journal: Journal of Business Economics and Management
Pages: 15-30
Issue: 1
Volume: 10
Year: 2008
Month: 12
X-DOI: 10.3846/1611-1699.2009.10.15-30
File-URL: http://hdl.handle.net/10.3846/1611-1699.2009.10.15-30
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Handle: RePEc:taf:jbemgt:v:10:y:2008:i:1:p:15-30
Template-Type: ReDIF-Article 1.0
Author-Name: Ben Soltane Bassem
Author-X-Name-First: Ben Soltane
Author-X-Name-Last: Bassem
Title: Governance and performance of microfinance institutions in Mediterranean countries
Abstract:
Abstract This paper examines empirically the relation
between governance mechanisms and the performance of
Euro‐Mediterranean microfinance institutions (MFIs) in terms of
outreach and sustainability. Specifically, we found that
performance‐based compensation of managers is not associated with
better performance of MFIs. The results identify trade‐offs between
MFIs outreach and sustainability depending on larger board size, and on
higher proportion of unaffiliated directors. Moreover, the study shows
that the more women there are on the board the better the performance, and
reveals that external governance mechanisms help MFIs to achieve better
financial performance. This study also allows us to distinguish other
factors leading to better sustainability such as Regulation, and the use
of individual lending methodology. However, the MFIs, active as NGOs, seem
to be more consistent with their social mission than with their financial
performance.
Journal: Journal of Business Economics and Management
Pages: 31-43
Issue: 1
Volume: 10
Year: 2008
Month: 9
X-DOI: 10.3846/1611-1699.2009.10.31-43
File-URL: http://hdl.handle.net/10.3846/1611-1699.2009.10.31-43
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Handle: RePEc:taf:jbemgt:v:10:y:2008:i:1:p:31-43
Template-Type: ReDIF-Article 1.0
Author-Name: Stasys Girdzijauskas
Author-X-Name-First: Stasys
Author-X-Name-Last: Girdzijauskas
Author-Name: Dalia Štreimikiene
Author-X-Name-First: Dalia
Author-X-Name-Last: Štreimikiene
Title: Application of logistic models for stock market bubbles analysis
Abstract:
Abstract The article deals with economic bubbles and
analyses their possible causes and tools for the prediction of such
bubbles development. An economic bubble is the commonly used term for an
economic cycle that is characterized by a rapid expansion followed by a
dramatic crash. While some bubbles happen naturally as a part of the
economic cycle, some also occur as a result of investor exuberance and
serve as correctives. These typically happen in securities, stock markets,
real estate and various other business sectors because of certain changes
in the way key players conduct business. The well‐known and widely
discussed bubbles in asset markets were analysed and compared trying to
define the main features, causes and signals of such bubbles creation:
Dotcom, Telecom, Health South Corporation, NASDAQ, etc. These bubbles were
analysed in the article by applying the logistic growth model allowing to
predict the bubbles creation as a result of growth satiation in the
conditions of limited resources.
Journal: Journal of Business Economics and Management
Pages: 45-51
Issue: 1
Volume: 10
Year: 2008
Month: 11
X-DOI: 10.3846/1611-1699.2009.10.45-51
File-URL: http://hdl.handle.net/10.3846/1611-1699.2009.10.45-51
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Handle: RePEc:taf:jbemgt:v:10:y:2008:i:1:p:45-51
Template-Type: ReDIF-Article 1.0
Author-Name: Renata Korsakiene
Author-X-Name-First: Renata
Author-X-Name-Last: Korsakiene
Title: The innovative approach to relationships with customers
Abstract:
Abstract Customer relationship management is a relatively
new discipline, which became popular in the last decade. It has to be
noted that customer relationship management is oriented toward current
customers and allows to attract new customers. Therefore, customer
relationship management is related to long‐term success in the
market. The paper analyses infrastructure, institutional and internal
issues which restrict customer relationship management in Lithuanian real
estate companies. Presented investigation is based on questioning of real
estate companies which encounter the problems of economy slowdown.
Journal: Journal of Business Economics and Management
Pages: 53-60
Issue: 1
Volume: 10
Year: 2008
Month: 10
X-DOI: 10.3846/1611-1699.2009.10.53-60
File-URL: http://hdl.handle.net/10.3846/1611-1699.2009.10.53-60
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Template-Type: ReDIF-Article 1.0
Author-Name: S. X. Zeng
Author-X-Name-First: S. X.
Author-X-Name-Last: Zeng
Author-Name: X. M. Xie
Author-X-Name-First: X. M.
Author-X-Name-Last: Xie
Author-Name: C. M. Tam
Author-X-Name-First: C. M.
Author-X-Name-Last: Tam
Author-Name: P. M. Sun
Author-X-Name-First: P. M.
Author-X-Name-Last: Sun
Title: Identifying cultural difference in R&D project for performance improvement: A field study
Abstract:
Abstract In recent years, some large multinational
companies have begun moving their R&D centers to China. As a result,
cross‐cultural management for R&D projects becomes challenging due
to the cultural diversity. Based on the technique of relative importance
index (RII), this study examines the gaps between the Chinese and Western
cultures in R&D projects for multinational firms. The findings show there
is a significant difference between Chinese and Western cultures. The top
five factors transformed into self‐reflection statements include:
1) You could accept your manager criticizing your mistake in public; 2)
You avoid any conflict with your manager; 3) Objective of the project is
the target for the whole project group; 4) You do not mind the methods for
your performance evaluation; and 5) You pay greater attention to improve
“relationship” among colleagues. Overall, these findings
reveal managerial implications for R&D managers that the need to recognize
and manage cultural difference is an important component in
cross‐cultural project management.
Journal: Journal of Business Economics and Management
Pages: 61-70
Issue: 1
Volume: 10
Year: 2008
Month: 11
X-DOI: 10.3846/1611-1699.2009.10.61-70
File-URL: http://hdl.handle.net/10.3846/1611-1699.2009.10.61-70
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Handle: RePEc:taf:jbemgt:v:10:y:2008:i:1:p:61-70
Template-Type: ReDIF-Article 1.0
Author-Name: Artūras Kaklauskas
Author-X-Name-First: Artūras
Author-X-Name-Last: Kaklauskas
Author-Name: Edmundas Kazimieras Zavadskas
Author-X-Name-First: Edmundas Kazimieras
Author-X-Name-Last: Zavadskas
Author-Name: Rita Budzevičiene
Author-X-Name-First: Rita
Author-X-Name-Last: Budzevičiene
Title: Web‐based model of multiple criteria ethical decision‐making for ethical behaviour of students
Abstract:
Abstract Lately, distance studies, which are attempting at
the best possible education for students and satisfaction of as many of
their study needs as possible, are gaining wider popularity. Online
questionnaires are increasingly used to get detailed opinions of distance
learning students on various issues of studies. During the project
EURASIA, it was identified that VEBER online questionnaire can be a useful
tool for VGTU beyond the scope of the project EURASIA. An online
questionnaire has been developed to facilitate the process of surveying
related to implementation of the project EURASIA. The assessments helped
to recognise that this tool helps VGTU to enhance its institutional system
related to e‐learning. Having identified the potential of this tool
outside the scope of the EURASIA to project, further experiments have been
carried out to assess how this tool can be further developed to
accommodate the requirements of the project EURASIA other institutional
systems. The research showed that distance learning students not only want
to express their opinion about the study process, but also to be active
participants in shaping strategic alternatives of the study process by
electronic means. In order to implement this idea, the authors proposed
the Web‐based Model of Multiple Criteria Ethical
Decision‐Making for Ethical Behaviour of Students and used as a
basis to develop the Ethical Web‐Based Decision Support System
(E‐DS). Using the features of the VEBER online questionnaire, the
developed Model and the E‐DS System, the process of distance
learning can be additionally humanized and adjusted to ethical norms,
which would have a positive effect on the whole distance learning process.
Thus, the institutions participating in the project EURASIA or offering
distance learning studies could use the features of VEBER online
questionnaire, the developed Model and the E‐DS System in their
activities. It would stimulate more efficient application of moral norms
in the distance learning process.
Journal: Journal of Business Economics and Management
Pages: 71-84
Issue: 1
Volume: 10
Year: 2008
Month: 11
X-DOI: 10.3846/1611-1699.2009.10.71-84
File-URL: http://hdl.handle.net/10.3846/1611-1699.2009.10.71-84
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Handle: RePEc:taf:jbemgt:v:10:y:2008:i:1:p:71-84
Template-Type: ReDIF-Article 1.0
Author-Name: Paulo Lopes Henriques
Author-X-Name-First: Paulo Lopes
Author-X-Name-Last: Henriques
Author-Name: Carla Curado
Author-X-Name-First: Carla
Author-X-Name-Last: Curado
Title: Pushing the boundaries on mentoring: Can mentoring be a knowledge tool?
Abstract:
Abstract Easy access to organizational knowledge is
fundamental in dynamic environments that demand continuous firm
adaptation. In that scenario we believe that mentors have a key role as
access facilitators to knowledge in the change periods. We have developed
this study aiming to explore the role and importance of mentors as
knowledge access facilitators. We have approached that role in two
different ways. We set apart the knowledge base in two categories:
Information centers and organizational memory, accepting that mentors act
differently accordingly. Based on the literature reviewed we were able to
stage a three‐dimensional theoretical setting (mentoring,
knowledge, and change) and produce three research questions. We have
addressed these research questions using an exploratory qualitative
approach to five different firms from three industries apart. This study
contributes to the literature at least in two ways. Firstly, it connects
the mentor figure to the knowledge base's access, exposing the importance
of the mentor as a knowledge access facilitator during change periods.
Secondly, by categorizing the knowledge base in two different ways, we are
able to explicitly differentiate mentor roles accordingly.
Journal: Journal of Business Economics and Management
Pages: 85-97
Issue: 1
Volume: 10
Year: 2008
Month: 11
X-DOI: 10.3846/1611-1699.2009.10.85-97
File-URL: http://hdl.handle.net/10.3846/1611-1699.2009.10.85-97
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Handle: RePEc:taf:jbemgt:v:10:y:2008:i:1:p:85-97
Template-Type: ReDIF-Article 1.0
Author-Name: Pasquale Pazienza
Author-X-Name-First: Pasquale
Author-X-Name-Last: Pazienza
Author-Name: Vincenzo Vecchione
Author-X-Name-First: Vincenzo
Author-X-Name-Last: Vecchione
Title: Preliminary investigation of the determinants of FDI distribution in Italy
Abstract:
Abstract The debate on the structural competitiveness of
national and local productive systems has lately paid relevant attention
to the territorial distribution of Foreign Direct Investment (FDI), since
it can be perceived as an indicator of economic openness and integration
in the world market. With regard to this, it can be observed that Italy
has a strong potential for attracting investment, but the inward flow of
FDI is very small with respect to what happens in other countries. This
study analyses the factors determining this kind of mismatch with the aim
of identifying appropriate policy suggestions to improve the strategies to
attract foreign investors to Italy and, particularly, to its southern
regions.
Journal: Journal of Business Economics and Management
Pages: 99-107
Issue: 2
Volume: 10
Year: 2009
Month: 1
X-DOI: 10.3846/1611-1699.2009.10.99-107
File-URL: http://hdl.handle.net/10.3846/1611-1699.2009.10.99-107
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Handle: RePEc:taf:jbemgt:v:10:y:2009:i:2:p:99-107
Template-Type: ReDIF-Article 1.0
Author-Name: Nina Ponikvar
Author-X-Name-First: Nina
Author-X-Name-Last: Ponikvar
Author-Name: Maks Tajnikar
Author-X-Name-First: Maks
Author-X-Name-Last: Tajnikar
Author-Name: Ksenja Pušnik
Author-X-Name-First: Ksenja
Author-X-Name-Last: Pušnik
Title: Performance ratios for managerial decision‐making in a growing firm
Abstract:
Abstract This paper investigates the impact of
firms’ growth rate on various financial and non‐financial
performance ratios. The study tests the hypothesis that variations in
growth rates across firms relate to differences in the values of ratios of
profitability, liquidity, current assets, and solvency, as well as the
break‐even point, revenue per employee, average costs, labour
costs, capital costs, capacity utilization, productivity and efficiency.
In order to estimate the impact of growth on financial and
non‐financial indicators while also accounting for unobservable
individual effects of each firm, the study assesses several two‐way
fixed effect panel models with regression analysis. Authors show that
knowing the impact of growth rates on financial and non‐financial
ratios gives managers of growing firms additional relevant information for
making business decisions.
Journal: Journal of Business Economics and Management
Pages: 109-120
Issue: 2
Volume: 10
Year: 2009
Month: 2
X-DOI: 10.3846/1611-1699.2009.10.109-120
File-URL: http://hdl.handle.net/10.3846/1611-1699.2009.10.109-120
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Handle: RePEc:taf:jbemgt:v:10:y:2009:i:2:p:109-120
Template-Type: ReDIF-Article 1.0
Author-Name: Willem Karel M. Brauers
Author-X-Name-First: Willem Karel M.
Author-X-Name-Last: Brauers
Author-Name: Romualdas Ginevičius
Author-X-Name-First: Romualdas
Author-X-Name-Last: Ginevičius
Title: Robustness in regional development studies. The case of Lithuania
Abstract:
Abstract The definition of robustness in econometrics, the
error term in a linear equation, was not only broadened, but, in addition,
moved to the meaning of common language: from a cardinal to a qualitative
one: the most robust one, more robust than…, as robust
as……, robust, weak robust, less robust than…, not
robust, etc. Both interpretations are tested by an application on the
Robustness in Regional Development, namely of the Lithuanian Regions. The
computation of Regional Income, being an exponent of the welfare economy,
is not sufficient for the measurement of the well‐being of the
regional population. The well‐being economy goes farther. In the
well‐being economy, each individual would have to feel good
concerning material wealth, health, education, all kind of security and
concerning the environment. In other words, multiple objectives have to be
fulfilled. Moreover, these different multiple objectives are expressed in
different units. Weights are most of the time used to equalize these
different units. However, introduction of weights means also introduction
of subjectivity. In order to avoid this dilemma, the internal mechanical
solution of a ratio system, producing dimensionless numbers, is preferred.
In addition, this outcome creates the opportunity to use also a
non‐subjective reference point theory. The choice of the objectives
is also non‐subjective if all stakeholders are involved, or if all
possible objectives are represented. This theory, which is called MOORA
(Multi‐Objective Optimization by Ratio Analysis), is applied to the
different regions of Lithuania. A redistribution of income has to take
place from the well‐being Lithuanian regions to the poorer regions,
but under limiting conditions and for well defined and eventually
controlled projects.
Journal: Journal of Business Economics and Management
Pages: 121-140
Issue: 2
Volume: 10
Year: 2009
Month: 2
X-DOI: 10.3846/1611-1699.2009.10.121-140
File-URL: http://hdl.handle.net/10.3846/1611-1699.2009.10.121-140
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Handle: RePEc:taf:jbemgt:v:10:y:2009:i:2:p:121-140
Template-Type: ReDIF-Article 1.0
Author-Name: Eugenijus Chlivickas
Author-X-Name-First: Eugenijus
Author-X-Name-Last: Chlivickas
Author-Name: Rasa Smaliukiene
Author-X-Name-First: Rasa
Author-X-Name-Last: Smaliukiene
Title: International region as a brand origin: Conceptualization and review
Abstract:
Abstract The purpose of the paper is to examine the
international region‐relation as a brand origin. The results of the
theoretical analysis of this study provide a foundation for making
suggestions about theoretical relationships between components of the
brand origin. According to proposed theoretical model, communication with
the consumers spreading from the strong business clusters in the
international region creates emotional attitudes towards a brand origin;
in addition, the quality of the products of the same clusters creates
cognitive attitudes towards a brand origin. Our interest centred on a
specific international area ‐ the Baltic Sea region. This region
embodies the principles of shared values and common purpose, hence
portrays a promising situation for regional branding. Performed empirical
research allowed the analysis of both emotional and cognitive components
of the brand origin. Therefore, the direct effects of the attributes of
local brands on the brand origin were tested on the basis of telecoms and
food industries in the Baltic Sea region.
Journal: Journal of Business Economics and Management
Pages: 141-148
Issue: 2
Volume: 10
Year: 2009
Month: 3
X-DOI: 10.3846/1611-1699.2009.10.141-148
File-URL: http://hdl.handle.net/10.3846/1611-1699.2009.10.141-148
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Template-Type: ReDIF-Article 1.0
Author-Name: Martin Schieg
Author-X-Name-First: Martin
Author-X-Name-Last: Schieg
Title: Model for integrated project management
Abstract:
Abstract Although there has been important research on
construction management's life cycle, stakeholders, micro and
macroenvironment, there has not been a model defined that can link the
above. This while the need to integrate construction management's life
cycle, stakeholders, micro and macroenvironment into both theory and
practice is essential. The Model for integrated project management,
described in this paper, consists of six stages. The purpose of this study
is also to examine micro and macroenvironment impact on efficiency of
project managers and project performance, based on the proposed Model. We
conclude that the proposed Model offers a promising research toward
improving construction management efficiency through giving construction
managers method for enhancing a project's efficient micro and
macroenvironment.
Journal: Journal of Business Economics and Management
Pages: 149-160
Issue: 2
Volume: 10
Year: 2008
Month: 3
X-DOI: 10.3846/1611-1699.2009.10.149-160
File-URL: http://hdl.handle.net/10.3846/1611-1699.2009.10.149-160
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Template-Type: ReDIF-Article 1.0
Author-Name: Sadullah Çelik
Author-X-Name-First: Sadullah
Author-X-Name-Last: Çelik
Author-Name: Yasemin Özerkek
Author-X-Name-First: Yasemin
Author-X-Name-Last: Özerkek
Title: Panel cointegration analysis of consumer confidence and personal consumption in the European Union
Abstract:
Abstract This study examines the relationship between
consumer confidence, personal consumption, and other relevant economic and
financial variables for 9 European Union countries. It is argued that
consumer confidence is an early indicator of future rates of growth in an
economy through the consumption channel. Therefore, an increase in
consumer confidence should translate into higher rates of consumption in
the future, leading to a possible rise in economic growth. Our panel data
analysis, conducting panel unit root tests and panel cointegration tests,
tries to measure the effects of changes in consumer sentiment on personal
consumption expenditures while accounting for other significant economic
and financial variables such as stock exchange index, real exchange rates
and interest rates. The empirical findings show the existence of a
long‐run relationship. Thus, consumers are able to detect early
signals about future rates of economic growth as they contribute through
the consumption channel.
Journal: Journal of Business Economics and Management
Pages: 161-168
Issue: 2
Volume: 10
Year: 2008
Month: 2
X-DOI: 10.3846/1611-1699.2009.10.161-168
File-URL: http://hdl.handle.net/10.3846/1611-1699.2009.10.161-168
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Handle: RePEc:taf:jbemgt:v:10:y:2008:i:2:p:161-168
Template-Type: ReDIF-Article 1.0
Author-Name: Marina Järvis
Author-X-Name-First: Marina
Author-X-Name-Last: Järvis
Author-Name: Piia Tint
Author-X-Name-First: Piia
Author-X-Name-Last: Tint
Title: The formation of a good safety culture at enterprise
Abstract:
Abstract The aim of the study is to show innovative
possibilities for improvement of safety culture at enterprises through
complex approach to occupational health and safety (OH&S). The knowledge
of the leadership and workers in OH&S is not sufficient at present in
Estonia, particularly in small and medium‐sized enterprises (the
number is 60 000). The small (up to 50 workers) or medium‐sized
enterprises (up to 150 workers) have no possibility to hire the working
environment specialist who would deal only with OH&S problems. Usually
obligations in the field of OH&S in small and medium‐sized
enterprises are delegated to one employee in addition to other
responsibilities related to personnel, security, fire protection and
environmental problems. Therefore, the complex approach to management of
OH&S issues is needed in order to create a good safety culture and to
achieve positive results in company safety performance. The complex method
consists of risk assessment and determination of safety level. The authors
offer possible tools ‐ simple computer applications which are
available for managers, interviews with employers, employees and
occupational health specialists for development and dissemination of
safety culture. The opinion of workers and occupational health specialists
has been taken into consideration in the planning of improvements of
working conditions by the employers. The economic issues of safety and
health improvement measures are presented.
Journal: Journal of Business Economics and Management
Pages: 169-180
Issue: 2
Volume: 10
Year: 2009
Month: 1
X-DOI: 10.3846/1611-1699.2009.10.169-180
File-URL: http://hdl.handle.net/10.3846/1611-1699.2009.10.169-180
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Template-Type: ReDIF-Article 1.0
Author-Name: Valentinas Podvezko
Author-X-Name-First: Valentinas
Author-X-Name-Last: Podvezko
Title: Application of AHP technique
Abstract:
Abstract Recently, the use of multicriteria quantitative
evaluation methods for solving social and economic problems has grown
considerably. One of two major components of quantitative multicriteria
evaluation methods strongly influencing the evaluation results is
associated with the criteria weights. In practice, the criteria weights
are determined in assessing the economic development of the state and its
regions, the commercial activity and strategic potential of enterprises,
the effectiveness of particular investment projects, etc. Several
theoretical and practical methods of determining the significance (weight)
of criteria by experts are known. Pairwise comparison of criteria is
widely applied, and the most well‐known, widely applied and
mathematically grounded technique is the so‐called Analytic
Hierarchy Process (AHP). However, the application of this method is
limited because of a great number of evaluation criteria, contradicting
expert estimates and incompatible matrices obtained. In the present paper,
the application of AHP technique to more complicated cases is considered
and some algorithms are offered.
Journal: Journal of Business Economics and Management
Pages: 181-189
Issue: 2
Volume: 10
Year: 2009
Month: 3
X-DOI: 10.3846/1611-1699.2009.10.181-189
File-URL: http://hdl.handle.net/10.3846/1611-1699.2009.10.181-189
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Handle: RePEc:taf:jbemgt:v:10:y:2009:i:2:p:181-189
Template-Type: ReDIF-Article 1.0
Author-Name: Romualdas Ginevičius
Author-X-Name-First: Romualdas
Author-X-Name-Last: Ginevičius
Author-Name: Stasys Čirba
Author-X-Name-First: Stasys
Author-X-Name-Last: Čirba
Title: Additive measurement of market concentration
Abstract:
Abstract The main effect of globalization of the world
markets is the increase of market concentration. The analysis and control
of these processes largely depend on precise determination of the level of
market concentration. Additive measures, evaluating the whole
concentration curve, assess market concentration most effectively. The
analysis shows that all currently used measures, including the most widely
used Herfindahl index, have some limitations and, therefore, cannot
adequately describe the market state. This index is still widely used
because it is easy to calculate. However, now, when calculation is
computer‐aided, this argument has hardly any sense. A possibility
to assess the state of the market much more accurately, searching for new,
more precise measures, has sense now. The accuracy of some particular
measures may be defined by the total difference between the relative value
of market criterion bearers in the market and their value calculated by
the formula of a particular concentration measure.
Journal: Journal of Business Economics and Management
Pages: 191-198
Issue: 3
Volume: 10
Year: 2009
Month: 5
X-DOI: 10.3846/1611-1699.2009.10.191-198
File-URL: http://hdl.handle.net/10.3846/1611-1699.2009.10.191-198
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Handle: RePEc:taf:jbemgt:v:10:y:2009:i:3:p:191-198
Template-Type: ReDIF-Article 1.0
Author-Name: Yu Hsing
Author-X-Name-First: Yu
Author-X-Name-Last: Hsing
Author-Name: Bruno S. Sergi
Author-X-Name-First: Bruno S.
Author-X-Name-Last: Sergi
Title: The dollar/euro exchange rate and a comparison of major models
Abstract:
Abstract This article analyzes the behaviour of the
USD/EUR exchange rate based on four major models. Using the mean absolute
percent error (MAPE) as a criterion, the extended Mundell‐Fleming
model performs best, followed by the PPP model using the relative PPI, the
monetary model, the PPP model using the relative CPI, and the UIP model.
The widely used log‐log form in the PPP model based on the relative
PPI or CPI can be rejected at the 5% level. The insignificant coefficients
or unexpected signs of some variables in the monetary and other models may
pose some challenges in applications.
Journal: Journal of Business Economics and Management
Pages: 199-205
Issue: 3
Volume: 10
Year: 2009
Month: 4
X-DOI: 10.3846/1611-1699.2009.10.199-205
File-URL: http://hdl.handle.net/10.3846/1611-1699.2009.10.199-205
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Handle: RePEc:taf:jbemgt:v:10:y:2009:i:3:p:199-205
Template-Type: ReDIF-Article 1.0
Author-Name: Fadzlan Sufian
Author-X-Name-First: Fadzlan
Author-X-Name-Last: Sufian
Author-Name: Muzafar Shah Habibullah
Author-X-Name-First: Muzafar Shah
Author-X-Name-Last: Habibullah
Title: Determinants of bank profitability in a developing economy: Empirical evidence from Bangladesh
Abstract:
Abstract This study seeks to examine the performance of 37
Bangladeshi commercial banks between 1997 and 2004. The empirical findings
of this study suggest that bank specific characteristics, in particular
loans intensity, credit risk, and cost have positive and significant
impacts on bank performance, while non‐interest income exhibits
negative relationship with bank profitability. During the period under
study the results suggest that the impact of size is not uniform across
the various measures employed. The empirical findings suggest that size
has a negative impact on return on average equity (ROAE), while the
opposite is true for return on average assets (ROAA) and net interest
margins (NIM). As for the impact of macroeconomic indicators, we conclude
that the variables have no significant impact on bank profitability,
except for inflation which has a negative relationship with Bangladeshi
banks profitability.
Journal: Journal of Business Economics and Management
Pages: 207-217
Issue: 3
Volume: 10
Year: 2009
Month: 4
X-DOI: 10.3846/1611-1699.2009.10.207-217
File-URL: http://hdl.handle.net/10.3846/1611-1699.2009.10.207-217
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Handle: RePEc:taf:jbemgt:v:10:y:2009:i:3:p:207-217
Template-Type: ReDIF-Article 1.0
Author-Name: Mejra Festić
Author-X-Name-First: Mejra
Author-X-Name-Last: Festić
Author-Name: Sebastijan Repina
Author-X-Name-First: Sebastijan
Author-X-Name-Last: Repina
Author-Name: Alenka Kavkler
Author-X-Name-First: Alenka
Author-X-Name-Last: Kavkler
Title: The overheating of five EU new member states and cyclicality of systemic risk in the banking sector
Abstract:
Abstract Rapid credit growth has been one of the most
pervasive developments in recent years in Central and Eastern Europe. We
tested for the significance of macroeconomic and banking sector variables
that condition non‐performing loan ratios and the hypothesis of
procyclicality between economic activity and improving
banking‐sector results in the Baltic States, Bulgaria and Romania.
The theory of procyclicality between economic activity and the
non‐performing loan ratio was proven. The increased economic
activity improved the loan portfolio quality of the banking sector, as
indicated by a lower NPL ratio. Due to a high share of loans denominated
in a foreign currency and the fact of productivity gains in the tradable
sector, the appreciation of the real exchange rate contributed to an
improvement in loan portfolio quality. The procyclicality of banking
sector performance and high economic activities growth could be a signal
of an economy overheating and therefore a slowdown in economic activity is
likely to accelerate the growth of the non‐performing loan ratio in
the Baltic States, Bulgaria and Romania.
Journal: Journal of Business Economics and Management
Pages: 219-232
Issue: 3
Volume: 10
Year: 2009
Month: 5
X-DOI: 10.3846/1611-1699.2009.10.219-232
File-URL: http://hdl.handle.net/10.3846/1611-1699.2009.10.219-232
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Template-Type: ReDIF-Article 1.0
Author-Name: Huseyin Ince
Author-X-Name-First: Huseyin
Author-X-Name-Last: Ince
Author-Name: Bora Aktan
Author-X-Name-First: Bora
Author-X-Name-Last: Aktan
Title: A comparison of data mining techniques for credit scoring in banking: A managerial perspective
Abstract:
Abstract Credit scoring is a very important task for
lenders to evaluate the loan applications they receive from consumers as
well as for insurance companies, which use scoring systems today to
evaluate new policyholders and the risks these prospective customers might
present to the insurer. Credit scoring systems are used to model the
potential risk of loan applications, which have the advantage of being
able to handle a large volume of credit applications quickly with minimal
labour, thus reducing operating costs, and they may be an effective
substitute for the use of judgment among inexperienced loan officers, thus
helping to control bad debt losses. This study explores the performance of
credit scoring models using traditional and artificial intelligence
approaches: discriminant analysis, logistic regression, neural networks
and classification and regression trees. Experimental studies using real
world data sets have demonstrated that the classification and regression
trees and neural networks outperform the traditional credit scoring models
in terms of predictive accuracy and type II errors.
Journal: Journal of Business Economics and Management
Pages: 233-240
Issue: 3
Volume: 10
Year: 2009
Month: 3
X-DOI: 10.3846/1611-1699.2009.10.233-240
File-URL: http://hdl.handle.net/10.3846/1611-1699.2009.10.233-240
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Handle: RePEc:taf:jbemgt:v:10:y:2009:i:3:p:233-240
Template-Type: ReDIF-Article 1.0
Author-Name: Ali Asghar Anvary Rostamy
Author-X-Name-First: Ali Asghar Anvary
Author-X-Name-Last: Rostamy
Title: Toward understanding conflicts between customers and employees’ perceptions and expectations: Evidence of Iranian bank
Abstract:
Abstract This paper aims to determine influence factors
affecting bank service quality, calculate the relative importance of
factors from viewpoints of bank customers and employees, and examine the
gaps in customers and employees’ perceptions and expectations of
the quality of bank services. Accordingly, an empirical investigation was
conducted in one of Iranian leading banks (Bank‐e‐Refah).
For data collection, an adjusted SERVQUAL questionnaire was developed and
distributed among 385 customers and 305 employees. The results show
significant difference between customers and employees viewpoints.
Understanding the gaps helped bank managers to develop more effective
customer‐oriented service plans and employees’ training and
development programs.
Journal: Journal of Business Economics and Management
Pages: 241-254
Issue: 3
Volume: 10
Year: 2009
Month: 3
X-DOI: 10.3846/1611-1699.2009.10.241-254
File-URL: http://hdl.handle.net/10.3846/1611-1699.2009.10.241-254
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Handle: RePEc:taf:jbemgt:v:10:y:2009:i:3:p:241-254
Template-Type: ReDIF-Article 1.0
Author-Name: Valentinas Navickas
Author-X-Name-First: Valentinas
Author-X-Name-Last: Navickas
Author-Name: Asta Malakauskaite
Author-X-Name-First: Asta
Author-X-Name-Last: Malakauskaite
Title: The impact of clusterization on the development of small and medium‐sized enterprise (SME) sector
Abstract:
Abstract The impact of clusterization on the development
of SME sector has been analysed in this study. The cooperation of
companies at national level and on a global scale is becoming more and
more important as a tool of economic development. Companies tend to work
together in order to share their competencies, reduce various costs,
consolidate limited resources, and hereby increase their productivity,
innovativeness, and profitability. It must be emphasized that the role of
clusterization is crucial in the development of SME sector, as small and
medium‐sized enterprises may benefit from economies of scale and
extend the operation limits (size‐related limitations of operation
are characteristic of most small businesses). Clusters (and similar forms
of interorganizational structures) create the environment for innovation
and technological advancement. Therefore, small and medium‐sized
enterprises may gain additional benefits that include know‐how,
cost‐saving options, innovative solutions, etc. The authors of this
scientific study have concluded that the competitiveness of SME sector is
closely related to the spread and extent of clusterization processes.
Journal: Journal of Business Economics and Management
Pages: 255-259
Issue: 3
Volume: 10
Year: 2009
Month: 5
X-DOI: 10.3846/1611-1699.2009.10.255-259
File-URL: http://hdl.handle.net/10.3846/1611-1699.2009.10.255-259
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Handle: RePEc:taf:jbemgt:v:10:y:2009:i:3:p:255-259
Template-Type: ReDIF-Article 1.0
Author-Name: Romualdas Ginevičius
Author-X-Name-First: Romualdas
Author-X-Name-Last: Ginevičius
Author-Name: Viktoras Zubrecovas
Author-X-Name-First: Viktoras
Author-X-Name-Last: Zubrecovas
Title: Selection of the optimal real estate investment project basing on multiple criteria evaluation using stochastic dimensions
Abstract:
Abstract As investment in real estate has great influence
on regional economics development it is important to evaluate real estate
investment processes as a whole. For this purpose the model of real estate
projects’ efficiency evaluation was developed and presented in this
article. The proposed model is designed for alternative projects, variants
selection, investment resources allocation as well as real estate value
maintenance and enhancement problems solution. The model of real estate
projects’ efficiency evaluation covers all the investment
decision‐making cycle, the hierarchically‐structured
projects’ evaluation criteria system, risk evaluation basing on
stochastic dimensions as well as the mathematical methods adaptation for
multiple criteria evaluation problems solution, risk assessment and
adjusted mathematical methods is presented in this issue.
Journal: Journal of Business Economics and Management
Pages: 261-270
Issue: 3
Volume: 10
Year: 2009
Month: 8
X-DOI: 10.3846/1611-1699.2009.10.261-270
File-URL: http://hdl.handle.net/10.3846/1611-1699.2009.10.261-270
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Template-Type: ReDIF-Article 1.0
Author-Name: Manuela Tvaronavičiene
Author-X-Name-First: Manuela
Author-X-Name-Last: Tvaronavičiene
Author-Name: Virginija Grybaite
Author-X-Name-First: Virginija
Author-X-Name-Last: Grybaite
Author-Name: Agne Tvaronavičiene
Author-X-Name-First: Agne
Author-X-Name-Last: Tvaronavičiene
Title: If institutional performance matters: Development comparisons of Lithuania, Latvia and Estonia
Abstract:
Abstract Presented paper aims to estimate and compare
sustainable development processes in Lithuania, Latvia and Estonia after
the European Union accession. Data embracing the 2004--2008 period is
being analysed. Authors take into account that different approaches to
countries’ development assessment might affect their comparison
results. In order to obtain a multi‐faceted view, several variants
of sustainable development estimations of Lithuania, Latvia and Estonia
are being performed. Each variant represents a different approach to
development perception. The difference lies in emphasis, which is being
put on economic and institutional aspects of development. Juxtaposition of
development estimation variants is expected to reveal range, within which
the resulting index fluctuates and impacts ranging of countries.
Integrated complex countries’ development index is computed by
using multi‐criteria method. Authors of the paper compose a system
of indicators, which is being employed for research purposes. Corollaries
of investigation let us judge how much Lithuanian, Latvian and Estonian
ranking according to estimated development level differs due to variations
of approaches applied, and how sensitive calculations are to institutional
performance and current economic downturn.
Journal: Journal of Business Economics and Management
Pages: 271-278
Issue: 3
Volume: 10
Year: 2009
Month: 6
X-DOI: 10.3846/1611-1699.2009.10.271-278
File-URL: http://hdl.handle.net/10.3846/1611-1699.2009.10.271-278
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Handle: RePEc:taf:jbemgt:v:10:y:2009:i:3:p:271-278
Template-Type: ReDIF-Article 1.0
Author-Name: Ruth Alas
Author-X-Name-First: Ruth
Author-X-Name-Last: Alas
Author-Name: Ants Kraus
Author-X-Name-First: Ants
Author-X-Name-Last: Kraus
Author-Name: Katrin Niglas
Author-X-Name-First: Katrin
Author-X-Name-Last: Niglas
Title: Manufacturing strategies and choices in cultural contexts-super-1
Abstract:
Abstract Although any firm operates in a local
environment, which includes specific economic, social and cultural
contexts, there is still a lack of studies connecting culture and values
with operations strategies and practices. This paper attempts to explore a
look at how cultural dimensions are connected with manufacturing
strategies and choices. The current article is based on data from the
International Manufacturing Strategy Survey (IMSS) project and the GLOBE
study. Advanced mass production is more common to countries with high
assertiveness, power distance and uncertainty avoidance. The model of
manufacturing strategies and choices in cultural context is developed
based on empirical results of the study.
Journal: Journal of Business Economics and Management
Pages: 279-289
Issue: 4
Volume: 10
Year: 2009
Month: 7
X-DOI: 10.3846/1611-1699.2009.10.279-289
File-URL: http://hdl.handle.net/10.3846/1611-1699.2009.10.279-289
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Handle: RePEc:taf:jbemgt:v:10:y:2009:i:4:p:279-289
Template-Type: ReDIF-Article 1.0
Author-Name: Chen Lin
Author-X-Name-First: Chen
Author-X-Name-Last: Lin
Author-Name: Dongwei Su
Author-X-Name-First: Dongwei
Author-X-Name-Last: Su
Title: Does state control affect managerial incentives? Evidence from china's publicly listed firms*
Abstract:
Abstract Using data for 1203 publicly listed firms in
China during 1999--2002, this paper empirically investigates whether and
to what extent state control affects managerial incentives, including
managerial compensation and CEO turnover. The paper finds that CEO
turnover is negatively related to both current and lagged firm performance
as measured by ROA and RPE (Relative Performance Evaluation) for
non‐state‐controlled firms, while insensitive to performance
measures for state‐controlled firms. In addition, CEO compensation
is positively related to firm performance, but state ownership and control
weaken this positive relation. Moreover, state control reduces the
effectiveness of internal governance mechanisms such as the board of
directors and supervisory committee. Overall, empirical results in the
paper indicate that state ownership and control weaken managerial
incentives and internal monitoring among publicly listed firms in China.
Journal: Journal of Business Economics and Management
Pages: 291-311
Issue: 4
Volume: 10
Year: 2009
Month: 9
X-DOI: 10.3846/1611-1699.2009.10.291-311
File-URL: http://hdl.handle.net/10.3846/1611-1699.2009.10.291-311
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Handle: RePEc:taf:jbemgt:v:10:y:2009:i:4:p:291-311
Template-Type: ReDIF-Article 1.0
Author-Name: Mirjana Radović Marković
Author-X-Name-First: Mirjana Radović
Author-X-Name-Last: Marković
Title: Education through e‐learning: Case of Serbia
Abstract:
Abstract The objective of this paper is to analyze
education through e‐learning. The author presents an overview of
some recent projects with focus on Serbia and uses their results to
discuss advantages of using e‐learning as an alternative
opportunity and support to “face‐to‐face”
education. From the author's viewpoint, it is believed that online
learning will not replace face‐to‐face learning but still
should be offered as a style of learning that suits students needs.
Through the research done on this subject, it has been identified that
online learning can assist in complementing studies when coupled with
face‐to‐face learning. In addition, the author's findings
suggest that without good policy and financial support there is no good
interaction between e‐learning (classroom learning )or
face‐to‐face learning and e‐learning .
Journal: Journal of Business Economics and Management
Pages: 313-319
Issue: 4
Volume: 10
Year: 2009
Month: 9
X-DOI: 10.3846/1611-1699.2009.10.313-319
File-URL: http://hdl.handle.net/10.3846/1611-1699.2009.10.313-319
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Handle: RePEc:taf:jbemgt:v:10:y:2009:i:4:p:313-319
Template-Type: ReDIF-Article 1.0
Author-Name: Eugenijus Chlivickas
Author-X-Name-First: Eugenijus
Author-X-Name-Last: Chlivickas
Author-Name: Neringa Petrauskaite
Author-X-Name-First: Neringa
Author-X-Name-Last: Petrauskaite
Author-Name: Nikolaj Ambrusevič
Author-X-Name-First: Nikolaj
Author-X-Name-Last: Ambrusevič
Title: Leading priorities for development of the high technologies market
Abstract:
Abstract High technologies development has strategic
importance to improving regional EU and national economies effectiveness
and assuring a country's competitiveness. This is especially a key
priority for small countries that do not have many natural and material
resources, as well as labour force. Therefore, in the article the
specifics of high technologies development that derives from exceptional
high technologies features is analysed. These specific features of high
technologies influence the rise of specific characteristics of high
technologies market. Thus, the article aims to set leading priorities for
a successful development of high technologies business in Lithuania.
Development of the high technologies business depends first of all on
development of the high technologies market. The success of developing
high technologies depends on implementation of the ‘ triple
helix’ model covering integration of the public and private sector
as well as science. The most successful’ triple helix’ model
for high technologies development is the one where the highest degree of
cooperation between authorities, industry and academic public is
indicated. Therefore the article establishes the implementation of the
‘ triple helix’ as a leading priority for high technologies
development in Lithuania.
Journal: Journal of Business Economics and Management
Pages: 321-328
Issue: 4
Volume: 10
Year: 2009
Month: 9
X-DOI: 10.3846/1611-1699.2009.10.321-328
File-URL: http://hdl.handle.net/10.3846/1611-1699.2009.10.321-328
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Template-Type: ReDIF-Article 1.0
Author-Name: Aleksandras Vytautas Rutkauskas
Author-X-Name-First: Aleksandras Vytautas
Author-X-Name-Last: Rutkauskas
Author-Name: Tomas Ramanauskas
Author-X-Name-First: Tomas
Author-X-Name-Last: Ramanauskas
Title: Building an artificial stock market populated by reinforcement‐learning agents
Abstract:
Abstract In this paper we propose an artificial stock
market model based on interaction of heterogeneous agents whose
forward‐looking behaviour is driven by the
reinforcement‐learning algorithm combined with some evolutionary
selection mechanism. We use the model for the analysis of market
self‐regulation abilities, market efficiency and determinants of
emergent properties of the financial market. Distinctive and novel
features of the model include strong emphasis on the economic content of
individual decision‐making, application of the Q‐learning
algorithm for driving individual behaviour, and rich market setup. Along
with that a parallel version of the model is presented, which is mainly
based on research of current changes in the market, as well as on search
of newly emerged consistent patterns, and which has been repeatedly used
for optimal decisions’ search experiments in various capital
markets.
Journal: Journal of Business Economics and Management
Pages: 329-341
Issue: 4
Volume: 10
Year: 2009
Month: 9
X-DOI: 10.3846/1611-1699.2009.10.329-341
File-URL: http://hdl.handle.net/10.3846/1611-1699.2009.10.329-341
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Handle: RePEc:taf:jbemgt:v:10:y:2009:i:4:p:329-341
Template-Type: ReDIF-Article 1.0
Author-Name: Regina Jasilioniene
Author-X-Name-First: Regina
Author-X-Name-Last: Jasilioniene
Author-Name: Rima Tamošiūniene
Author-X-Name-First: Rima
Author-X-Name-Last: Tamošiūniene
Title: Evaluation of customer relationship system efficiency: Applying of total cost of ownership approach
Abstract:
Abstract Calculating total cost of ownership (TCO) and
benefits, building a business case and applying financial measurement
methodologies help a company make right customer relationship system for
investments solution and build compelling justification for its customer
relationship system project. In addition, ongoing measurement of customer
relationship system (CRS ) benefits ensures that an enterprise receives
expected advantages and achieves strategic objectives. In this paper
peculiarities of TCO economic efficiency are analysed. Evaluation method
application when developing, using and expanding CRS is being considered,
strengths and weaknesses of cost‐oriented approach are discussed.
Authors present and interpret their empirical research results.
Journal: Journal of Business Economics and Management
Pages: 343-347
Issue: 4
Volume: 10
Year: 2009
Month: 9
X-DOI: 10.3846/1611-1699.2009.10.343-347
File-URL: http://hdl.handle.net/10.3846/1611-1699.2009.10.343-347
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Handle: RePEc:taf:jbemgt:v:10:y:2009:i:4:p:343-347
Template-Type: ReDIF-Article 1.0
Author-Name: Deimante Teresiene
Author-X-Name-First: Deimante
Author-X-Name-Last: Teresiene
Title: Lithuanian stock market analysis using a set of Garch models
Abstract:
Abstract This article analyses the main factors that
influence stock price volatility. The author offers a three‐stage
system for explaning a set of stock price volatility factors. The main
point is to pay attention to investor's psychology as the main factor of
price volatility. For practical analysis the returns of the OMXV index and
stock prices of the Lithuanian stock market are taken and applied to a set
of GARCH models. The main idea is to choose the best of the general
autoregressive conditional heteroskedasticity models (GARCH) for OMXV
index and all sectors. All models are ranged according to their ability to
model stock price return. The main tendencies of the Lithuanian stock
market are also analysed in this article by highlighting the leverage
effect.
Journal: Journal of Business Economics and Management
Pages: 349-360
Issue: 4
Volume: 10
Year: 2009
Month: 8
X-DOI: 10.3846/1611-1699.2009.10.349-360
File-URL: http://hdl.handle.net/10.3846/1611-1699.2009.10.349-360
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Handle: RePEc:taf:jbemgt:v:10:y:2009:i:4:p:349-360
Template-Type: ReDIF-Article 1.0
Author-Name: Özgür Arslan
Author-X-Name-First: Özgür
Author-X-Name-Last: Arslan
Author-Name: Mehmet Baha Karan
Author-X-Name-First: Mehmet Baha
Author-X-Name-Last: Karan
Title: Credit risks and internationalization of SMEs
Abstract:
Abstract The purpose of the paper is to identify common
attributable factors causing credit risks to domestic and international
SMEs of an emerging market in Turkey. We call domestic firms as the ones
only making local sales and international firms as the ones also making
sales abroad. Therefore in this study, cross‐border sales are
assumed to lead the firms to internationalization. We study totally 1,166
SMEs for the year 2007, which coincide with an economic expansion in
Turkey. We find that different factors affect credit risks for the two
types of firms. For domestic firms, our results present a direct
relationship between the likelihood of corporate default and trade
credits, corporate tax, financial expenses and net profit margin yet the
relationship turns negative for gross profit margin. For international
firms, likelihood of corporate default increases with the ratio of
inventories to total assets but decreases with net profits and net sales.
Journal: Journal of Business Economics and Management
Pages: 361-368
Issue: 4
Volume: 10
Year: 2009
Month: 9
X-DOI: 10.3846/1611-1699.2009.10.361-368
File-URL: http://hdl.handle.net/10.3846/1611-1699.2009.10.361-368
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Handle: RePEc:taf:jbemgt:v:10:y:2009:i:4:p:361-368
Template-Type: ReDIF-Article 1.0
Author-Name: Aleksandras Vytautas Rutkauskas
Author-X-Name-First: Aleksandras Vytautas
Author-X-Name-Last: Rutkauskas
Author-Name: Adomas Ginevičus
Author-X-Name-First: Adomas
Author-X-Name-Last: Ginevičus
Title: Integrated Management of Marketing Risk and Efficiency
Abstract:
Abstract There are two principal problems arising for
marketing management: first—the increase of marketing ability to
use effectively its resources, and second—to inventory the risks
influencing marketing activity in order to develop their management
strategy. Considering exceptional riskiness of marketing, the solution of
marketing efficiency problems is not separable from identification of
risks, influencing marketing, and their management strategies development.
Integrated analysis of marketing efficiency and risk management problems
is performed in two ways. First, a marketing risks portfolio management
situation is analysed in such a way that resources, intended for risk
management, are distributed among the means of decreasing value at risk in
such a manner that the overall value of risk, i.e. the resultant of all
risk values, would be minimal. Second, based on the expert efficiency
estimates for a unit of costs in every element of marketing structure, a
distribution of costs is pursued which would uphold the best increase of
marketinggenerated marginal utility. To find the solution, imitative
modeling and stochastic optimization methods are used.
Journal: Journal of Business Economics and Management
Pages: 1-23
Issue: 1
Volume: 12
Year: 2010
Month: 12
X-DOI: 10.3846/16111699.2011.555357
File-URL: http://hdl.handle.net/10.3846/16111699.2011.555357
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Handle: RePEc:taf:jbemgt:v:12:y:2010:i:1:p:1-23
Template-Type: ReDIF-Article 1.0
Author-Name: Sepehr Ghazinoory
Author-X-Name-First: Sepehr
Author-X-Name-Last: Ghazinoory
Author-Name: Mansoureh Abdi
Author-X-Name-First: Mansoureh
Author-X-Name-Last: Abdi
Author-Name: Mandana Azadegan-Mehr
Author-X-Name-First: Mandana
Author-X-Name-Last: Azadegan-Mehr
Title: Swot Methodology: A State-of-the-Art Review for the Past, A Framework for the Future
Abstract:
Abstract The SWOT analysis is the process of exploring the
internal and external environments of an organization and extracting
convenient strategies based on its strengths, weaknesses, opportunities
and threats. This paper presents a literature review of SWOT analysis,
based on a reference bank of about 557 papers established through
searching various databases. This paper reviews papers that have been
published up to the end of 2009. The origination and historical
development of SWOT are explained first, followed by a survey on trends &
classifications in SWOT papers including journals, countries, years,
people & contents. Then a categorical analysis is conducted about
application area and scope of SWOT. Also a methodological development of
SWOT is discussed. Finally, concluding remarks and a few suggestions and
challenges are presented for future studies. It is hoped that the paper
can serve the needs of researchers and practitioners for easy references
of SWOT studies and applications, and hence promote SWOT future
development.
Journal: Journal of Business Economics and Management
Pages: 24-48
Issue: 1
Volume: 12
Year: 2010
Month: 11
X-DOI: 10.3846/16111699.2011.555358
File-URL: http://hdl.handle.net/10.3846/16111699.2011.555358
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Handle: RePEc:taf:jbemgt:v:12:y:2010:i:1:p:24-48
Template-Type: ReDIF-Article 1.0
Author-Name: Irina Travkina
Author-X-Name-First: Irina
Author-X-Name-Last: Travkina
Author-Name: Manuela Tvaronavièiene
Author-X-Name-First: Manuela
Author-X-Name-Last: Tvaronavièiene
Title: Export Competitiveness and Domestic Productivity Facets: Case of Lithuania
Abstract:
Abstract The relationships between export competitiveness
and separate productivity factors are complex. Since the late 1990s
debates on these relationships have been strongly influenced by the
Krugman hypothesis, which states that the competitiveness could be
measured directly by productivity. In the paper it is assumed, that export
competitiveness is derivative of main factors’ productivities,
therefore properly presented and juxtaposed data on labour, capital and
energy productivity/intensity would provide with new insights about
character of relations between export competitiveness and main production
factors productivities. Practical approach for predicting the Lithuanian
export competitiveness future change direction by using listed indicators
is being suggested. As a result, possible implications of main
productivity factors impact on further export competitiveness have been
foreseen.
Journal: Journal of Business Economics and Management
Pages: 49-68
Issue: 1
Volume: 12
Year: 2010
Month: 12
X-DOI: 10.3846/16111699.2011.555360
File-URL: http://hdl.handle.net/10.3846/16111699.2011.555360
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Template-Type: ReDIF-Article 1.0
Author-Name: Maciej Nowak
Author-X-Name-First: Maciej
Author-X-Name-Last: Nowak
Title: Interactive Multicriteria Decision Aiding Under Risk—Methods and Applications
Abstract:
Abstract In the paper a discrete multicriteria decision
making problem under risk is considered. It is assumed that the set of
alternatives consists of a finite number of elements that are explicitly
described. The evaluations of alternatives with respect to criteria are
represented by distribution functions. The decision maker tries to find a
solution preferred to all other solutions. To solve the problem one has to
analyze the decision maker's preferences. In the study interactive
approach is used. Three interactive methods and its applications in
operations management are presented.
Journal: Journal of Business Economics and Management
Pages: 69-91
Issue: 1
Volume: 12
Year: 2010
Month: 10
X-DOI: 10.3846/16111699.2011.555366
File-URL: http://hdl.handle.net/10.3846/16111699.2011.555366
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Handle: RePEc:taf:jbemgt:v:12:y:2010:i:1:p:69-91
Template-Type: ReDIF-Article 1.0
Author-Name: Gregorio Sanchez-Marin
Author-X-Name-First: Gregorio
Author-X-Name-Last: Sanchez-Marin
Author-Name: J. Samuel Baixauli-Soler
Author-X-Name-First: J. Samuel
Author-X-Name-Last: Baixauli-Soler
Author-Name: M. Encarnacion Lucas-Perez
Author-X-Name-First: M. Encarnacion
Author-X-Name-Last: Lucas-Perez
Title: Ownership Structure and Board Effectiveness as Determinants of TMT Compensation in Spanish Listed Firms
Abstract:
Abstract This study analyzes the influence of ownership
structure and the board of directors on top management team (TMT) pay
levels in a sample of Spanish listed firms. When panel data methodology is
applied, the results show that TMT pay level is affected by the
supervisory effectiveness of the board. This, in turn, is influenced by
ownership concentration and the type of major shareholders. When ownership
is dispersed, the board is more effective in their supervision and TMT pay
level is lower. However, when ownership is concentrated, the quality of
supervision and, consequently, TMT pay levels depend upon the type of
shareholder that is predominant.
Journal: Journal of Business Economics and Management
Pages: 92-109
Issue: 1
Volume: 12
Year: 2010
Month: 11
X-DOI: 10.3846/16111699.2011.555371
File-URL: http://hdl.handle.net/10.3846/16111699.2011.555371
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Handle: RePEc:taf:jbemgt:v:12:y:2010:i:1:p:92-109
Template-Type: ReDIF-Article 1.0
Author-Name: Silvia Mãrginean
Author-X-Name-First: Silvia
Author-X-Name-Last: Mãrginean
Author-Name: Ramona Toma (Orãştean)
Author-X-Name-First: Ramona
Author-X-Name-Last: Toma (Orãştean)
Title: Some Issues Concerning Sector Concentration. Evidence from Romania
Abstract:
Abstract This paper examines the dynamics of sector
concentration in Romania starting from two basic questions: how
concentrated the economic activities are and what factors determine the
economic concentration. The lack of availability of concentration ratio
series for Romanian economy has limited the research in this field. The
paper reports the concentration ratios dynamics in Romania during the
period 1996--2004, looking at the differences between industries and
offers some possible explanations. We use the simple concentration ratio
(CR) for the largest 5 and 20 companies to measure concentration in 25
industries according to the sales figure and the number of employees. Our
study has been limited to the processing industry, because the mining
industry continues to have a very high level of concentration, without any
significant changes in the analysed period; commerce, services and
constructions are sectors with low entrance barriers and a strong
geographic concentration character, thus their analysis can become
irrelevant for the national level. Based on the average values of the
concentration coefficients that it was determined for the period
1996--2004 we proposed the map of Romanian industry concentration, as a
graphical tool for a synthetic view of the general concentration level in
a national economy.
Journal: Journal of Business Economics and Management
Pages: 110-130
Issue: 1
Volume: 12
Year: 2010
Month: 11
X-DOI: 10.3846/16111699.2011.555378
File-URL: http://hdl.handle.net/10.3846/16111699.2011.555378
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Handle: RePEc:taf:jbemgt:v:12:y:2010:i:1:p:110-130
Template-Type: ReDIF-Article 1.0
Author-Name: Süleyman Tuluð Ok
Author-X-Name-First: Süleyman Tuluð
Author-X-Name-Last: Ok
Title: International Outsourcing: Empirical Evidence from the Netherlands
Abstract:
Abstract This study examines the results of a field survey
on international outsourcing conducted in 2009 in the Netherlands. The
research sample is composed of 156 Dutch enterprises from various
industries. Empirical evidence shows that reduction of labor costs,
improved competitiveness, strategic decisions taken by the group head and
reduction in other costs are the main motivations for Dutch firms to
engage in international outsourcing. Tax and regulatory advantages seem to
play a lesser role. The motivations can be grouped into three distinct
factors: access to cheaper resources and increasing competition, access to
scarce and distinctive resources and reduction of other production costs.
The most important impediments turn out to be problems with distance to
producers, the need for proximity to existing clients, concerns about the
outsourcing operation exceeding expected benefits and linguistic/cultural
barriers. Violation of patents/intellectual property rights and
uncertainty of international standards are not viewed as important issues.
The impediments are captured by three different dimensions as indicated by
the data: legal and governmental obstacles, human concerns and logistical
difficulties.
Journal: Journal of Business Economics and Management
Pages: 131-143
Issue: 1
Volume: 12
Year: 2010
Month: 11
X-DOI: 10.3846/16111699.2011.555383
File-URL: http://hdl.handle.net/10.3846/16111699.2011.555383
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Handle: RePEc:taf:jbemgt:v:12:y:2010:i:1:p:131-143
Template-Type: ReDIF-Article 1.0
Author-Name: Theodoros Koutroumanidis
Author-X-Name-First: Theodoros
Author-X-Name-Last: Koutroumanidis
Author-Name: Konstantinos Ioannou
Author-X-Name-First: Konstantinos
Author-X-Name-Last: Ioannou
Author-Name: Eleni Zafeiriou
Author-X-Name-First: Eleni
Author-X-Name-Last: Zafeiriou
Title: Forecasting Bank Stock Market Prices with a Hybrid Method: The Case of Alpha Bank
Abstract:
Abstract The present study aims at constructing Confidence
Intervals (C.I) for the predicted values of a Time Series with the
application of a Hybrid method. The presented methodology is complicated
and thus is completed in different stages. Initially the Artificial Neural
Networks (ANNs) is applied on the raw time series in order to estimate C.I
of the forecasts. Then, the Bootstrap method is employed on the residuals
generated by the preceded process. On the upper and lower limit of the
estimated C.I., two new ANNs are employed in order to make point
estimations (of the upper and lower limits) using of Object Oriented
Programming. For the empirical analysis daily observations of the closing
prices of Alpha Bank stocks have been used. The sample period is extended
from 28/01/2004 until 30/11/2005. The nonstationarity of the time series
employed in our study is not a forbidding condition for the estimation of
the confidence intervals, in our case, since the level of bootstrap still
provides a satisfactory approximation for the roots arbitrarily close to
unity (Berkowitz, Kilian 1996). The accuracy of the forecasts was surveyed
with the use of different criteria and the results were satisfactory.
Journal: Journal of Business Economics and Management
Pages: 144-163
Issue: 1
Volume: 12
Year: 2010
Month: 12
X-DOI: 10.3846/16111699.2011.555388
File-URL: http://hdl.handle.net/10.3846/16111699.2011.555388
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Handle: RePEc:taf:jbemgt:v:12:y:2010:i:1:p:144-163
Template-Type: ReDIF-Article 1.0
Author-Name: Justo de Jorge Moreno
Author-X-Name-First: Justo de Jorge
Author-X-Name-Last: Moreno
Author-Name: Leopoldo Laborda Castillo
Author-X-Name-First: Leopoldo Laborda
Author-X-Name-Last: Castillo
Title: Corporate Growth, Age and Ownership Structure: Empirical Evidence in Spanish Firms
Abstract:
Abstract The objective of this work is to analyse firm
mobility among the different sectors of the Spanish economy according to a
statistical classification of economic activities at the 1-digit level.
Some of the stylised facts that we find are: an inverse relation between
firm growth and age; an increase in new entrants’ average relative
size in terms of sales compared to established firms among the different
industries and cohorts; the importance of the firm's initial size in
entrepreneurial activity; the favourable impact of the economy on firm
growth; and a positive relation between non-concentration in the ownership
structure and greater mobility. In this context, an efficient corporate
governance system may prove as a significant policy tool for the
investment and growth prospective of the Spanish economy. The regulatory
framework of the Spaniard capital market has been coordinate with the EU
standards. The challenge is now mostly for the firms to adopt the
appropriate corporate governance structures, in order to achieve real
convergence, in terms of productivity and competitiveness, with other
developed economies.
Journal: Journal of Business Economics and Management
Pages: 164-196
Issue: 1
Volume: 12
Year: 2010
Month: 11
X-DOI: 10.3846/16111699.2011.555449
File-URL: http://hdl.handle.net/10.3846/16111699.2011.555449
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Handle: RePEc:taf:jbemgt:v:12:y:2010:i:1:p:164-196
Template-Type: ReDIF-Article 1.0
Author-Name: Cengiz Demir
Author-X-Name-First: Cengiz
Author-X-Name-Last: Demir
Author-Name: Nazli A. Ayyildiz Unnu
Author-X-Name-First: Nazli A.
Author-X-Name-Last: Ayyildiz Unnu
Author-Name: Emel Erturk
Author-X-Name-First: Emel
Author-X-Name-Last: Erturk
Title: Diagnosing the Organizational Culture of a Turkish Pharmaceutical Company Based on the Competing Values Framework
Abstract:
Abstract Organizational culture plays a significant role
in understanding organizational dynamics and it distinguishes the members
of one organization from other people. In this regard; it is found out
that an organization, which is able to maintain a strong and
“preferred” culture, is likely to enjoy many benefits such
as higher levels of performance, person-organization fit, commitment, job
satisfaction and competitive advantage. Thus, the purpose of this study is
to diagnose the culture of a pharmaceutical company, which is located in
Turkey, and find out the “perceived” and
“preferred” cultural profiles both in the headquarters and
branches of the company. The perceived culture has been found as hierarchy
whereas the preferred one has been found as clan leading to incongruence
between the perceived and preferred cultural profiles. In this regard; the
reasons lying behind this mismatch are discussed, as it is important for
the success of the organization and person-organization fit. Hence, the
influential effects of national culture on shaping the organizational
culture profiles have been discussed. Furthermore, the effects of
educational level and union membership on culture profiles are also
explored to understand the dynamics leading to such results thoroughly.
Journal: Journal of Business Economics and Management
Pages: 197-217
Issue: 1
Volume: 12
Year: 2010
Month: 12
X-DOI: 10.3846/16111699.2011.555451
File-URL: http://hdl.handle.net/10.3846/16111699.2011.555451
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Handle: RePEc:taf:jbemgt:v:12:y:2010:i:1:p:197-217
Template-Type: ReDIF-Article 1.0
Author-Name: Peide Liu
Author-X-Name-First: Peide
Author-X-Name-Last: Liu
Title: The Study on Venture Investment Evaluation Based on Linguistic Variables for Chinese Case
Abstract:
Abstract The venture investment evaluation plays a very
important role in the venture investment operation process. The goal of
the paper is development of evaluation index systems and evaluation
methods for venture investment. Firstly, the evaluation index systems of
venture investment project are constructed in accordance with China's
practical situation. Then evaluation models have been presented. In the
models, operational laws of linguistic variables and distance of two
linguistic variables are defined; and a single objective optimization
model is constructed by maximizing deviation method to get the objective
weights of indexes, and alternatives are ranked by TOPSIS and grey
relation methods respectively. Finally, a numerical example is given to
illustrate the evaluation procedures of two approaches. The case shows
that two different approaches get the same result, but TOPSIS is simpler
apparently.
Journal: Journal of Business Economics and Management
Pages: 219-233
Issue: 2
Volume: 12
Year: 2011
Month: 1
X-DOI: 10.3846/16111699.2011.573284
File-URL: http://hdl.handle.net/10.3846/16111699.2011.573284
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Handle: RePEc:taf:jbemgt:v:12:y:2011:i:2:p:219-233
Template-Type: ReDIF-Article 1.0
Author-Name: Min-Ren Yan
Author-X-Name-First: Min-Ren
Author-X-Name-Last: Yan
Title: A Fuzzy Logic Enhanced Bargaining Model for Business Pricing Decision Support in Joint Venture Projects
Abstract:
Abstract Project businesses are increasingly emerging and
many companies cooperatively participate in various projects by the manner
of joint venture (JV) for creating synergistic competitiveness. In a
project-based short-term JV, the project tasks of JV parties can be
properly allocated based on complementary specialties but the rewards
sharing is always a challenge in the bargaining process. For improving the
manager's reasoning process of pricing decisions, this paper incorporates
game theory and fuzzy set theory for the development of a bargaining
model, which can be used to estimate acceptable prices for JV parties in
accordance with each party's costs and each party's need for the project's
revenue. The proposed decision support model can assist JV companies to
understand their bargaining positions and select a bargaining strategy in
a systematic and rational manner. Irrational offers and alternatives can
also be detected and eliminated during the dynamic bargaining process, so
as to maintain right businesses.
Journal: Journal of Business Economics and Management
Pages: 234-247
Issue: 2
Volume: 12
Year: 2011
Month: 2
X-DOI: 10.3846/16111699.2011.573281
File-URL: http://hdl.handle.net/10.3846/16111699.2011.573281
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Handle: RePEc:taf:jbemgt:v:12:y:2011:i:2:p:234-247
Template-Type: ReDIF-Article 1.0
Author-Name: Chien-Chiang Lee
Author-X-Name-First: Chien-Chiang
Author-X-Name-Last: Lee
Author-Name: Mei-Ping Chen
Author-X-Name-First: Mei-Ping
Author-X-Name-Last: Chen
Author-Name: Chun-An Li
Author-X-Name-First: Chun-An
Author-X-Name-Last: Li
Author-Name: Chi-Hung Chang
Author-X-Name-First: Chi-Hung
Author-X-Name-Last: Chang
Title: Determinants of ADR Returns before and after Domestic Stock Seasoned Equity Offerings: Evidence from Asian and Latin American Emerging Markets
Abstract:
Abstract This paper examines the critical determinants of
American depository receipt (ADR) returns before and after domestic stock
seasoned equity offerings (SEOs) for Asian and Latin American emerging
economies during 1990--2007, which has never been probed in related
issues. We employ the Time Series Cross Section Regressions and General
Method of Moments methods to document that domestic stock returns play a
vital role in explaining Latin American ADR returns, while US investor
sentiment is crucial in explaining Asian ADR returns. Local investor
sentiment is found to be considerably important than domestic stock
returns in Asian ADR returns, while Latin American local investor
sentiment (US investor sentiment) is more important before (after)
domestic stock SEOs. The results do not support the view that
ADR-reconciled earnings per share (EPS) and stock EPS provide significant
information to explain ADR returns in Latin American and Asian emerging
markets both before and after SEOs. Furthermore, international market
differences in a specific geography should be considered when diversifying
investments and efficiency accounting communication with accounting
convergence does not need to be emphasized.
Journal: Journal of Business Economics and Management
Pages: 248-277
Issue: 2
Volume: 12
Year: 2011
Month: 2
X-DOI: 10.3846/16111699.2011.573264
File-URL: http://hdl.handle.net/10.3846/16111699.2011.573264
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Handle: RePEc:taf:jbemgt:v:12:y:2011:i:2:p:248-277
Template-Type: ReDIF-Article 1.0
Author-Name: Osman M. Karatepe
Author-X-Name-First: Osman M.
Author-X-Name-Last: Karatepe
Title: Service Quality, Customer Satisfaction and Loyalty: The Moderating Role of Gender
Abstract:
Abstract The purpose of this study is to investigate
customer satisfaction as a mediator of the effects of service environment,
interaction quality, empathy, and reliability on loyalty. The present
study also aims to examine gender as a moderator in the relationship
between the aforementioned service quality dimensions and customer
satisfaction. Data were gathered from the customers of retail banks in
Northern Cyprus. The results based on hierarchical multiple regression
analysis reveal that customer satisfaction mediates the impacts of service
environment, interaction quality, empathy, and reliability on loyalty. The
results also indicate that gender moderates the effects of empathy and
reliability on customer satisfaction. Implications of the results are
discussed, and avenues for future research are offered.
Journal: Journal of Business Economics and Management
Pages: 278-300
Issue: 2
Volume: 12
Year: 2011
Month: 1
X-DOI: 10.3846/16111699.2011.573308
File-URL: http://hdl.handle.net/10.3846/16111699.2011.573308
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Handle: RePEc:taf:jbemgt:v:12:y:2011:i:2:p:278-300
Template-Type: ReDIF-Article 1.0
Author-Name: Juan M. Berbel-Pineda
Author-X-Name-First: Juan M.
Author-X-Name-Last: Berbel-Pineda
Author-Name: José M. Ramírez-Hurtado
Author-X-Name-First: José M.
Author-X-Name-Last: Ramírez-Hurtado
Title: Does the Foreign Market Entry Mode Choice Affect Export Performance? The Case of the Spanish Hotel Industry
Abstract:
Abstract Knowing the factors that affect the export
performance has become one of the most recent research lines in the
literature relative to business internationalisation. In this sense,
several works based on the meta-analysis technique have come up in the two
last decades in order to recapitulate the set of studies which have
analysed such a topic. Taking these reviews as a starting point, we may
establish that there is not a clear relationship between the entry mode
and export performance variables. With a study on a sample of 122 Spanish
hotels all over the world, we have the intention of analysing the
existence and sense of the relationship between both variables. As a
conclusion, we may state that the market entry mode has a positive and
significant influence on export performance.
Journal: Journal of Business Economics and Management
Pages: 301-316
Issue: 2
Volume: 12
Year: 2010
Month: 12
X-DOI: 10.3846/16111699.2011.573270
File-URL: http://hdl.handle.net/10.3846/16111699.2011.573270
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Handle: RePEc:taf:jbemgt:v:12:y:2010:i:2:p:301-316
Template-Type: ReDIF-Article 1.0
Author-Name: Asta Valackienė
Author-X-Name-First: Asta
Author-X-Name-Last: Valackienė
Author-Name: Rūta Virbickaitė
Author-X-Name-First: Rūta
Author-X-Name-Last: Virbickaitė
Title: Conceptualization of Crisis Situation in a Company
Abstract:
Abstract The paper highlights theoretical construct of
crisis situation in a company emphasizing the methodological positions of
a social phenomenon. Applying systemic analysis of crisis situation in a
company the paper discusses hardly spread social phenomenon, i.e.
occurrence and expression of crisis situation in a company. On the basis
of retrospective analysis of crisis situation, both crisis environment and
bankruptcy features are presented and principal keywords defined with
reference to crisis in a company as a social phenomenon and related to its
environment: human, company-based, national and global. It shows the
complexity of the scientific research object, that brings meaningful input
into the analysis of crisis features in company life cycle. The paper aims
at discussing and presenting critical reviews of crisis situation
interpretations with emphasis on methodological positions of social
phenomenon in different disciplines. The differences and links between
crisis and crisis situation are also explained. Through explanation of
logical construct of the paper, the authors specify crisis concept in a
company: distinguishing negative changes in a company, that make the
company staff apply crisis communication process and instrumentalities. In
the above mentioned context the problem of crisis situation in a company
remains significant from psychological, social and economic and managerial
perspectives.
Journal: Journal of Business Economics and Management
Pages: 317-331
Issue: 2
Volume: 12
Year: 2011
Month: 2
X-DOI: 10.3846/16111699.2011.575192
File-URL: http://hdl.handle.net/10.3846/16111699.2011.575192
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Handle: RePEc:taf:jbemgt:v:12:y:2011:i:2:p:317-331
Template-Type: ReDIF-Article 1.0
Author-Name: Nor Asiah Omar
Author-X-Name-First: Nor Asiah
Author-X-Name-Last: Omar
Author-Name: Syed Shah Alam
Author-X-Name-First: Syed Shah
Author-X-Name-Last: Alam
Author-Name: Norzalita Abdul Aziz
Author-X-Name-First: Norzalita Abdul
Author-X-Name-Last: Aziz
Author-Name: Muhamad Azrin Nazri
Author-X-Name-First: Muhamad Azrin
Author-X-Name-Last: Nazri
Title: Retail Loyalty Programs in Malaysia: The Relationship of Equity, Value, Satisfaction, Trust, and Loyalty among Cardholders
Abstract:
Abstract This study examines loyalty programs in Malaysia
in terms of perceived equity, value, program satisfaction, program trust,
and store loyalty. A total of 400 questionnaires were collected from
cardholders in Klang Valley, Malaysia. The hypotheses were based on social
exchange and equity theories. The structural equation model that assessed
the relationship between the proposed variables was tested using AMOS 6.0.
The findings revealed that perceived equity and perceived value of the
loyalty program significantly influence program satisfaction and trust.
Program trust was the most important predictor of store loyalty.
Limitations of the study and recommendations for future research are
discussed.
Journal: Journal of Business Economics and Management
Pages: 332-352
Issue: 2
Volume: 12
Year: 2011
Month: 2
X-DOI: 10.3846/16111699.2011.573297
File-URL: http://hdl.handle.net/10.3846/16111699.2011.573297
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Handle: RePEc:taf:jbemgt:v:12:y:2011:i:2:p:332-352
Template-Type: ReDIF-Article 1.0
Author-Name: Štefan Bojnec
Author-X-Name-First: Štefan
Author-X-Name-Last: Bojnec
Author-Name: Drago Papler
Author-X-Name-First: Drago
Author-X-Name-Last: Papler
Title: Economic Efficiency, Energy Consumption and Sustainable Development
Abstract:
Abstract This paper analyzes structural indicators of
economic efficiency and energy intensity consumption as determinants of
sustainable economic development for the selected 33 European countries.
The correlation, regression and multivariate factor analyses are applied
to test the associations between the selected structural variables of
energy intensity consumption, economic efficiency, and the main driving
forces behind these developments. Economic efficiency is positively
associated with expenditures on research and development (R&D) and a
greater technological intensity of exports, while at the same time the
economic efficiency of R&D expenditures and technological intensity of
exports reduce the energy intensity consumption of the economy. The
results suggest that management strategies and policies directed towards
R&D expenditures, human capital investments, and technologically intensive
export oriented products are improving economic efficiency performance and
contributing to energy saving sustainable economic development. The
technological intensity of products reduces energy consumption, which is
related to restructuring of energy intensive industries into more advanced
and energy saving ones with higher value added per unit of product, but
with lower energy consumption per unit of product.
Journal: Journal of Business Economics and Management
Pages: 353-374
Issue: 2
Volume: 12
Year: 2010
Month: 12
X-DOI: 10.3846/16111699.2011.573278
File-URL: http://hdl.handle.net/10.3846/16111699.2011.573278
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Handle: RePEc:taf:jbemgt:v:12:y:2010:i:2:p:353-374
Template-Type: ReDIF-Article 1.0
Author-Name: Syed Shah Alam
Author-X-Name-First: Syed
Author-X-Name-Last: Shah Alam
Author-Name: Md. Yunus Ali
Author-X-Name-First: Md. Yunus
Author-X-Name-Last: Ali
Author-Name: Mohd. Fauzi Mohd. Jani
Author-X-Name-First: Mohd. Fauzi
Author-X-Name-Last: Mohd. Jani
Title: An Empirical Study of Factors Affecting Electronic Commerce Adoption among SMEs in Malaysia
Abstract:
Abstract This study empirically examines determinants of
E-commerce adoption by Malaysian Small and Medium-sized Enterprises.
Research model for this study was drawn on the literature on information
and communication technology, Information system, and electronic data
interchange. This study tested seven hypotheses on factors that influence
e-commerce adoption with empirical data from a sample of 200 SMEs in
Malaysia. The findings show that relative advantage, compatibility,
organizational readiness, manager's characteristics, and security have
significant impact on e-commerce adoption. The study provides a clear
understanding of manager's perception about e-commerce adoption in their
businesses. This study is important in a global context, as SMEs in
Malaysia are going for exporting their product in the global marketplace.
Journal: Journal of Business Economics and Management
Pages: 375-399
Issue: 2
Volume: 12
Year: 2011
Month: 1
X-DOI: 10.3846/16111699.2011.576749
File-URL: http://hdl.handle.net/10.3846/16111699.2011.576749
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Handle: RePEc:taf:jbemgt:v:12:y:2011:i:2:p:375-399
Template-Type: ReDIF-Article 1.0
Author-Name: Pranas Žukauskas
Author-X-Name-First: Pranas
Author-X-Name-Last: Žukauskas
Author-Name: Jolita Vveinhardt
Author-X-Name-First: Jolita
Author-X-Name-Last: Vveinhardt
Title: Mobbing Diagnosis Instrument: Stages of Construction, Structure and Connectedness of Criteria
Abstract:
Abstract The article deals with mobbing diagnosis criteria
in instruments designed by foreign scientists; it presents the process of
development of the instrument for diagnosis of mobbing as discrimination
in employee relations, designed by the authors, which involves five main
stages. The results of expert assessment and their impact on further
development of the instrument are discussed in more detail. The detailed
structure of the instrument is presented, distinguishing characteristics
and criteria and revealing some fragments of indicators in the article.
The analysis of intercorrelations has confirmed especially high
reliability of interconnectedness of criteria, i.e. 0.001.
Journal: Journal of Business Economics and Management
Pages: 400-416
Issue: 2
Volume: 12
Year: 2011
Month: 2
X-DOI: 10.3846/16111699.2011.575193
File-URL: http://hdl.handle.net/10.3846/16111699.2011.575193
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Handle: RePEc:taf:jbemgt:v:12:y:2011:i:2:p:400-416
Template-Type: ReDIF-Article 1.0
Author-Name: Simona Kildienė
Author-X-Name-First: Simona
Author-X-Name-Last: Kildienė
Author-Name: Arturas Kaklauskas
Author-X-Name-First: Arturas
Author-X-Name-Last: Kaklauskas
Author-Name: Edmundas Kazimieras Zavadskas
Author-X-Name-First: Edmundas Kazimieras
Author-X-Name-Last: Zavadskas
Title: COPRAS based Comparative Analysis of the European Country Management Capabilities within the Construction Sector in the Time of Crisis
Abstract:
Abstract Construction industry and its impact on the
national economy in different countries had been investigated. In general,
it can be noted that development trends of the construction industry is
almost the same as the development trends of the whole country economy
itself. Efficiency level of the construction and real estate industries
depends on the specific quantities of the variables within micro, meso and
macro context. Although factors of the macro level influence the
efficiency level of the whole economy this investigation analyses its
influence on the efficiency of the construction industry. Efficiency of
the construction industry operation depends on the complex impact of the
macro level variable factors such as economic, political and cultural
level of development, construction industry are effected by the regulating
documents, market, taxation system, drawing possibilities and conditions,
inflation, local resources etc. (Kaklauskas et al. 2011).
Construction industry development possibilities vary according to the
effect of macro level factors. Crisis, spin up in 2008--2009, had
differently affected the construction industry markets of the European
Union countries. The general part of countries had faced the decrease of
outputs, real estate transactions, and predictable reduction in employment
of population and quantity of construction companies. Adverse conditions
and huge deviations that had arisen due to the crisis encourage analysing
the situation of the construction sector not only in the particular
country but in other ones, it happens because of possibility to analyse
the international experience and get the broader view of the construction
sector issues and solve them correctly. Procedure, presented in the issue,
provide the possibility to detect the one of 23 European countries which
possesses the most effective construction sector market development
according to the criteria set. Countries undergo the multi-criteria
evaluation applying COPRAS methods (Zavadskas and Kaklauskas 1996),
evaluation criteria relevance is determined via entropy method. The first
time using the entropy concept (Shannon and Weaver 1947; Shannon 1948) for
maximizing the quantity of information contained in the dataset. The
entropy is described as the casual value of the uncertainty which makes it
more valuable in comparison with other factors. Thus, the main goal of the
work is to group investigated European countries applying the COPRAS
method and evaluating six criteria, describing the construction sector. In
order to implement this goal, economy of the European Union countries,
construction sectors, statistical economic data, valuables set according
to the entropy method and priority of the European country construction
sectors set by COPRAS method will be evaluated.
Journal: Journal of Business Economics and Management
Pages: 417-434
Issue: 2
Volume: 12
Year: 2011
Month: 2
X-DOI: 10.3846/16111699.2011.575190
File-URL: http://hdl.handle.net/10.3846/16111699.2011.575190
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Handle: RePEc:taf:jbemgt:v:12:y:2011:i:2:p:417-434
Template-Type: ReDIF-Article 1.0
Author-Name: Romualdas Ginevičius
Author-X-Name-First: Romualdas
Author-X-Name-Last: Ginevičius
Author-Name: Agnė Šimelytė
Author-X-Name-First: Agnė
Author-X-Name-Last: Šimelytė
Title: Government incentives directed towards foreign direct investment: a case of central and eastern europe
Abstract:
Abstract This article examines the government incentives
towards foreign direct investments (further -- FDI) of Central and Eastern
Europe countries by evaluating the external influencing factors of foreign
investment. It is argued that the major incentive affecting FDI inflows
involves more fiscal than financial incentives. Tax deduction is
considered to be the most significant influencing factor on attracting
FDI. Hence, the empirical analysis is based on exogenous variables. The
empirical model was used to determine causal relationship between
macroeconomic variables and FDI intensity in Central and Eastern European
countries. The article introduces some policy recommendation for the
increase of FDI intensity in Central and Eastern Europe.
Journal: Journal of Business Economics and Management
Pages: 435-450
Issue: 3
Volume: 12
Year: 2011
Month: 5
X-DOI: 10.3846/16111699.2011.599415
File-URL: http://hdl.handle.net/10.3846/16111699.2011.599415
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Handle: RePEc:taf:jbemgt:v:12:y:2011:i:3:p:435-450
Template-Type: ReDIF-Article 1.0
Author-Name: Manuel Carlos Vallejo-Martos
Author-X-Name-First: Manuel Carlos
Author-X-Name-Last: Vallejo-Martos
Title: The organizational culture of family firms as a key factor of competitiveness
Abstract:
Abstract In the current research work we build and test a
model for the analysis and management of the organizational culture of
family firms based on the main arguments of neo-institutional theory and
transformational leadership theory. The model we have built allows us to
test for the existence of positive relations between the values defining
the second level of organizational culture (commitment, harmony, long term
orientation and customer service and performance, measured through
variables, such as profitability, survival and group cohesion. The model
will prove to be useful tool to exploit the competitive potential that the
organizational culture represents for this type of firms.
Journal: Journal of Business Economics and Management
Pages: 451-481
Issue: 3
Volume: 12
Year: 2011
Month: 5
X-DOI: 10.3846/16111699.2011.599407
File-URL: http://hdl.handle.net/10.3846/16111699.2011.599407
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Handle: RePEc:taf:jbemgt:v:12:y:2011:i:3:p:451-481
Template-Type: ReDIF-Article 1.0
Author-Name: Aušrinė Lakštutienė
Author-X-Name-First: Aušrinė
Author-X-Name-Last: Lakštutienė
Author-Name: Rytis Krušinskas
Author-X-Name-First: Rytis
Author-X-Name-Last: Krušinskas
Author-Name: Dalia Rumšaitė
Author-X-Name-First: Dalia
Author-X-Name-Last: Rumšaitė
Title: The influence of deposits insurance on the stability of the baltic states banking system
Abstract:
Abstract The processes in the financial markets in the
last years revealed the new research directions in the risk for market
actors valuation area. Globalization processes and their impact on a
country's financial system stability affects banking system not only with
the clear macroeconomic indicators, but also with the panic and
uncertainty of resources providers -- depositors. Deposit coverage
insurance limit increase as risk management tool for Baltic States banking
system stability in the period of 2005--2009 was implemented. These
actions helped commercial banks, participating in deposit insurance
system, to keep their credit ratings and financial stability. However, the
main concern is about whether this tool is more theoretical or practical
for maintaining stability of the banking system, and what influence to
macroeconomic factors make deposits sum in country's banks.
Journal: Journal of Business Economics and Management
Pages: 482-502
Issue: 3
Volume: 12
Year: 2011
Month: 6
X-DOI: 10.3846/16111699.2011.599413
File-URL: http://hdl.handle.net/10.3846/16111699.2011.599413
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Handle: RePEc:taf:jbemgt:v:12:y:2011:i:3:p:482-502
Template-Type: ReDIF-Article 1.0
Author-Name: Jesús Cambra-Fierro
Author-X-Name-First: Jesús
Author-X-Name-Last: Cambra-Fierro
Author-Name: Juan M. Berbel-Pineda
Author-X-Name-First: Juan M.
Author-X-Name-Last: Berbel-Pineda
Author-Name: Rocío Ruiz-Benítez
Author-X-Name-First: Rocío
Author-X-Name-Last: Ruiz-Benítez
Author-Name: Rosario Vazquez-Carrasco
Author-X-Name-First: Rosario
Author-X-Name-Last: Vazquez-Carrasco
Title: Managing service recovery processes: the role of customers' age
Abstract:
Abstract Research and practice show that effective
management of service recovery processes boosts customer satisfaction.
Under this assumption, the purpose of this paper is to analyze a set of
factors which may determine satisfaction with recovery processes and
loyalty. We also analyze the role of age as potential moderating.
Segmenting customers' samples by age may potentially contribute to more
effective service recovery process management. Older customers seem to be
more loyal when dealing with service providers than younger customers,
while younger customers are more demanding in terms of companies' efforts.
Implications for both literature and practice are included at the
front-end of the paper.
Journal: Journal of Business Economics and Management
Pages: 503-528
Issue: 3
Volume: 12
Year: 2011
Month: 4
X-DOI: 10.3846/16111699.2011.599405
File-URL: http://hdl.handle.net/10.3846/16111699.2011.599405
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Handle: RePEc:taf:jbemgt:v:12:y:2011:i:3:p:503-528
Template-Type: ReDIF-Article 1.0
Author-Name: Agustín Álvarez-Herranz
Author-X-Name-First: Agustín
Author-X-Name-Last: Álvarez-Herranz
Author-Name: Pilar Valencia-De-Lara
Author-X-Name-First: Pilar
Author-X-Name-Last: Valencia-De-Lara
Author-Name: María Pilar Martínez-Ruiz
Author-X-Name-First: María Pilar
Author-X-Name-Last: Martínez-Ruiz
Title: How entrepreneurial characteristics influence company creation: a cross-national study of 22 countriestested with panel data methodology
Abstract:
Abstract This study analyzes, from a multicountry
perspective, the influence of the sociodemographic profiles of nascent and
new entrepreneurs on their behavior. The panel data-based research
approach combines temporal series and cross-sectional data to assess
entrepreneurial activities across 22 countries with varying income levels.
The results show that entrepreneurs' characteristics influence
entrepreneurial behavior significantly and positively, in the following
order: previous experience of the founder, age, and education. These
findings suggest valid recommendations for stimulating entrepreneurship,
both for enterprising business founders and for the institutions
responsible for designing economic and regional development policies.
Journal: Journal of Business Economics and Management
Pages: 529-545
Issue: 3
Volume: 12
Year: 2011
Month: 4
X-DOI: 10.3846/16111699.2011.599409
File-URL: http://hdl.handle.net/10.3846/16111699.2011.599409
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Handle: RePEc:taf:jbemgt:v:12:y:2011:i:3:p:529-545
Template-Type: ReDIF-Article 1.0
Author-Name: Toma Lankauskienė
Author-X-Name-First: Toma
Author-X-Name-Last: Lankauskienė
Author-Name: Manuela Tvaronavičienė
Author-X-Name-First: Manuela
Author-X-Name-Last: Tvaronavičienė
Title: Interrelation of countries' developmental level and foreign direct investments performance
Abstract:
Abstract The aim of this article is to formulate
hypothesis about interrelation of countries' developmental level and
foreign direct investments performance with reference to relevant
scientific literature. Reviewed ample relevant scientific literature made
a presumption to arise that the impact of FDI differs in developed,
developing and underdeveloped countries, i.e. depends on level of
development: developed countries benefit most, developing less and
underdeveloped least. Countries to respective groups have been attributed
according to their level of development and indicators chosen for the
formulation of following hypotheses. The following indicators capable of
reflecting FDI impact on enhancing wellbeing in unevenly developed
countries (GDP, exports, inflation, population, life expectancy at birth,
primary school pupils, infant mortality, total health expenditure per
capita, total tax rate, Internet users, residential consumption of
electricity) and differences between developed and underdeveloped
countries in the fields of: economic, social and business environment. In
the paper a series of hypotheses has been formulated.
Journal: Journal of Business Economics and Management
Pages: 546-565
Issue: 3
Volume: 12
Year: 2011
Month: 3
X-DOI: 10.3846/16111699.2011.599412
File-URL: http://hdl.handle.net/10.3846/16111699.2011.599412
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Handle: RePEc:taf:jbemgt:v:12:y:2011:i:3:p:546-565
Template-Type: ReDIF-Article 1.0
Author-Name: José M. Ramírez-Hurtado
Author-X-Name-First: José M.
Author-X-Name-Last: Ramírez-Hurtado
Author-Name: Francisco J. Rondán-Cataluña
Author-X-Name-First: Francisco J.
Author-X-Name-Last: Rondán-Cataluña
Author-Name: Flor M. Guerrero-Casas
Author-X-Name-First: Flor M.
Author-X-Name-Last: Guerrero-Casas
Author-Name: Juan M. Berbel-Pineda
Author-X-Name-First: Juan M.
Author-X-Name-Last: Berbel-Pineda
Title: Identifying the franchisee profiles franchisors prefer
Abstract:
Abstract This study identifies the franchisee profiles
that franchisors prefer. Specifically, the goals of this study are: (1) to
identify the characteristics that form the franchisee profile preferred by
the franchisors operating in the Spanish market and (2) to contrast
diverse hypotheses related to this profile. These hypotheses are related
to the ideal franchisee, sector, financial level, number of franchisee
units and age of franchisors. Criteria that franchisors look for in
potential franchisees are ranked by importance. The value of the paper is
significant as it provides a practical framework for franchisors for the
selection process of franchisees when choosing from a group of potential
franchisees. The franchisee profile was obtained using conjoint analysis,
which is a decomposition methodology that is rarely used in this field.
Journal: Journal of Business Economics and Management
Pages: 567-588
Issue: 4
Volume: 12
Year: 2011
Month: 5
X-DOI: 10.3846/16111699.2011.599408
File-URL: http://hdl.handle.net/10.3846/16111699.2011.599408
File-Format: text/html
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Handle: RePEc:taf:jbemgt:v:12:y:2011:i:4:p:567-588
Template-Type: ReDIF-Article 1.0
Author-Name: Aslı Yüksel Mermod
Author-X-Name-First: Aslı Yüksel
Author-X-Name-Last: Mermod
Author-Name: Gitana Dudzevičiūtė
Author-X-Name-First: Gitana
Author-X-Name-Last: Dudzevičiūtė
Title: Frequency domain analysis of consumer confidence, industrial production and retail sales for selected european countries
Abstract:
Abstract This paper examines the relationship between
consumer confidence, economic growth and retail sales for selected
countries employing frequency domain analysis. Our methodology includes
the causality test developed by Breitung and Candelon (2006) which
improves the methodology of Geweke (1982) and Hosoya (1991). We focus on
the causality tests across frequency bands as well as the usual Granger
causality tests. Especially for the emerging countries the causality goes
from the economic growth to consumer confidence but not vice versa. This
argument basically supports the findings of Güneş and Uzun
(2010) as well as Balkytė and Tvaronavičienė (2010),
which claim that in emerging countries consumers are not able to trigger
the economic growth with their confidence due to their subsistence level
of income. Besides, causality from consumer confidence to retail sales,
which is a proxy for the consumer expenditures, is detected. As in Basdas
and Çelik (2010), we also obtain significant differences whenever the
frequency domain causality tests are employed instead of usual Granger
causality tests in time domain.
Journal: Journal of Business Economics and Management
Pages: 589-602
Issue: 4
Volume: 12
Year: 2011
Month: 3
X-DOI: 10.3846/16111699.2011.599406
File-URL: http://hdl.handle.net/10.3846/16111699.2011.599406
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Handle: RePEc:taf:jbemgt:v:12:y:2011:i:4:p:589-602
Template-Type: ReDIF-Article 1.0
Author-Name: Barbara Čater
Author-X-Name-First: Barbara
Author-X-Name-Last: Čater
Author-Name: Vesna Žabkar
Author-X-Name-First: Vesna
Author-X-Name-Last: Žabkar
Author-Name: Tomaž Čater
Author-X-Name-First: Tomaž
Author-X-Name-Last: Čater
Title: Commitment in marketing research services: two alternative models
Abstract:
Abstract The paper aims to contribute to the body of
knowledge on client commitment in business-to-business professional
services by developing and testing two alternative models: one based on
the Relationship Marketing (RM) approach and the second on the Industrial
Marketing and Purchasing Group (IMP) approach. Both models include the
same mediators (components of commitment) and consequences (attitudinal
and behavioral loyalty), yet they differ in the antecedents of commitment.
By using SEM, both models are tested and compared on a sample of 150
firms. The results show that affective commitment is the only component of
commitment that influences both attitudinal and behavioral loyalty. In the
RM model affective commitment is positively influenced by trust, social
bonds and satisfaction, while in the IMP model it is positively influenced
by trust and knowledge transfers. Although differences in the sizes of
effects can be found, the two models perform comparably well in terms of
the model fit and their explanatory power of loyalty.
Journal: Journal of Business Economics and Management
Pages: 603-628
Issue: 4
Volume: 12
Year: 2011
Month: 5
X-DOI: 10.3846/16111699.2011.599410
File-URL: http://hdl.handle.net/10.3846/16111699.2011.599410
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Handle: RePEc:taf:jbemgt:v:12:y:2011:i:4:p:603-628
Template-Type: ReDIF-Article 1.0
Author-Name: Ahmet Faruk Aysan
Author-X-Name-First: Ahmet Faruk
Author-X-Name-Last: Aysan
Author-Name: Mustafa Mete Karakaya
Author-X-Name-First: Mustafa Mete
Author-X-Name-Last: Karakaya
Author-Name: Metin Uyanik
Author-X-Name-First: Metin
Author-X-Name-Last: Uyanik
Title: Panel stochastic frontier analysis of profitability and efficiency of turkish banking sector in the post crisis era
Abstract:
Abstract This paper examines the efficiency and its
relation to profitability in Turkish banking sector by employing Panel
Stochastic Frontier Approach. In the post crises period, extensive
structural changes have taken place and a great number of new developments
have occurred, affecting the efficiency of banking sector. This is the
first study that employs panel stochastic frontier approach for banking
efficiency in Turkey. In this research, both cost and profit efficiency
measures are estimated for the panel data consisting of 32 banks between
2002--2007. Results suggest that there is cost efficiency gain and
convergence in the efficiency levels of banks. As another interesting
result, foreign banks are less efficient and state banks are more
efficient. This paper also analyzes the relation between efficiency and
profitability and finds no robust relation between them. However, the bank
size matters more for profitability.
Journal: Journal of Business Economics and Management
Pages: 629-654
Issue: 4
Volume: 12
Year: 2011
Month: 3
X-DOI: 10.3846/16111699.2011.599411
File-URL: http://hdl.handle.net/10.3846/16111699.2011.599411
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Handle: RePEc:taf:jbemgt:v:12:y:2011:i:4:p:629-654
Template-Type: ReDIF-Article 1.0
Author-Name: Julia Bistrova
Author-X-Name-First: Julia
Author-X-Name-Last: Bistrova
Author-Name: Natalja Lace
Author-X-Name-First: Natalja
Author-X-Name-Last: Lace
Author-Name: Valentina Peleckienė
Author-X-Name-First: Valentina
Author-X-Name-Last: Peleckienė
Title: The influence of capital structure on baltic corporate performance
Abstract:
Abstract Seeking for the optimal capital structure lasts
for more than 50 years and still is very topical, especially during the
market turmoil as it happened in 2008. No perfect answer is yet provided
to the question of how large debt amount should be kept on the accounts.
The main objective of the present paper is to analyze the impact of
capital structure decisions on the equity performance and on the
profitability of the companies located in Baltics. The study covered the
time period of 4 years (from 2007 till 2010) and the sample data of 36
“blue-chip” companies listed on the Baltic Stock exchanges.
The results of the study discover positive relationship between stock
performance and sufficiency of equity capital. Besides, there was found an
inverse relationship between the level of debt and capital profitability
confirming the pecking order theory that in the best case the company
should use self-generated funds.
Journal: Journal of Business Economics and Management
Pages: 655-669
Issue: 4
Volume: 12
Year: 2011
Month: 5
X-DOI: 10.3846/16111699.2011.599414
File-URL: http://hdl.handle.net/10.3846/16111699.2011.599414
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Handle: RePEc:taf:jbemgt:v:12:y:2011:i:4:p:655-669
Template-Type: ReDIF-Article 1.0
Author-Name: Reza Azimi
Author-X-Name-First: Reza
Author-X-Name-Last: Azimi
Author-Name: Abdolreza Yazdani-Chamzini
Author-X-Name-First: Abdolreza
Author-X-Name-Last: Yazdani-Chamzini
Author-Name: Mohammad Majid Fouladgar
Author-X-Name-First: Mohammad Majid
Author-X-Name-Last: Fouladgar
Author-Name: Edmundas Kazimieras Zavadskas
Author-X-Name-First: Edmundas Kazimieras
Author-X-Name-Last: Zavadskas
Author-Name: Mohammad Hossein Basiri
Author-X-Name-First: Mohammad Hossein
Author-X-Name-Last: Basiri
Title: Ranking the strategies of mining sector through anp and topsis in a swot framework
Abstract:
Abstract Mining plays one significant role in most
countries and it acts as a foundation for growth and development. It
produces raw material for other sectors such as industry, agriculture,
etc. So, determining and prioritizing the strategies of mining are so
important. Miscellaneous types of tools are offered for determining and
evaluating of operational strategies. Analyzing the internal and external
environments using strengths, weaknesses, opportunities, and threats
(SWOT) helps to determine the current situation and to identify major
prospects and challenges that could significantly impact strategy
implementation in mining sector. Multi criteria decision making (MCDM)
methods are appropriate tools to prioritize under sophisticated
environment. Analytical network process (ANP) and TOPSIS are two hands of
MCDM methods that are used in different researches. In this paper, we
proposed an integrated model for prioritizing the strategies of Iranian
mining sector. We employed the SWOT analysis to assign feasible
strategies; then, ANP was applied in order to obtain the weight of SWOT
factors, finally the strategies were ranked through TOPSIS technique. The
results show that improving the ability of exploitation and production
outperforms other strategies.
Journal: Journal of Business Economics and Management
Pages: 670-689
Issue: 4
Volume: 12
Year: 2011
Month: 9
X-DOI: 10.3846/16111699.2011.626552
File-URL: http://hdl.handle.net/10.3846/16111699.2011.626552
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Handle: RePEc:taf:jbemgt:v:12:y:2011:i:4:p:670-689
Template-Type: ReDIF-Article 1.0
Author-Name: Yun-Huei Lee
Author-X-Name-First: Yun-Huei
Author-X-Name-Last: Lee
Title: A FUZZY ANALYTIC NETWORK PROCESS APPROACH TO DETERMINING PROSPECTIVE COMPETITIVE STRATEGY IN CHINA: A CASE STUDY FOR MULTINATIONAL BIOTECH PHARMACEUTICAL ENTERPRISES
Abstract:
Abstract This study explores efforts to identify the most
appropriate competitive strategy relative to multinational biotech
pharmaceutical enterprises’ strategy selection. The research uses
the analytic network process (ANP) technique combining both qualitative
and quantitative information to construct a hierarchical model involving
interactions among various criteria for competitive strategy selection,
and also introduces fuzzy logic to eliminate vagueness, subjectivity, and
imprecision stemming from human judgment. The most important finding shows
that the most suitable competitive strategy for multinational enterprises
(MNEs) is innovative-focus strategy. Also, the weighted calculations
present the three most important criteria affecting the competitive
strategy of foreign direct investment (FDI): collaboration with local
partners, governmental rules and regulations and high-quality research
personnel with R & D capability.
Journal: Journal of Business Economics and Management
Pages: 5-28
Issue: 1
Volume: 13
Year: 2011
Month: 6
X-DOI: 10.3846/16111699.2011.620165
File-URL: http://hdl.handle.net/10.3846/16111699.2011.620165
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Handle: RePEc:taf:jbemgt:v:13:y:2011:i:1:p:5-28
Template-Type: ReDIF-Article 1.0
Author-Name: Sun-A Kang
Author-X-Name-First: Sun-A
Author-X-Name-Last: Kang
Author-Name: Yong-Shik Kim
Author-X-Name-First: Yong-Shik
Author-X-Name-Last: Kim
Title: Effect of corporate governance on real activity-based earnings management: evidence from korea
Abstract:
Abstract This paper aims to determine whether corporate
governance affects manager's real operating or investment decision to
control reported earnings. Through data analysis of firms listed on the
Korean stock exchange, it was found that the aggregated measure of real
activity-based earnings management decreases as the size of board is
larger or as a greater proportion of external directors sit on the board.
Those findings are almost the same, whether a corporate governance index
composed by each BOD characteristics is employed, or problem caused by
endogenous relationships among variables is controlled. The results
provide the first empirical evidence that real activity-based earnings
management is influenced by corporate governance structure. This focus on
real activity-based earnings management suggests new avenues for research
on corporate governance. The results offer some insights for policy makers
interested in promoting legislation to ensure strong corporate governance
in their nation.
Journal: Journal of Business Economics and Management
Pages: 29-52
Issue: 1
Volume: 13
Year: 2011
Month: 7
X-DOI: 10.3846/16111699.2011.620164
File-URL: http://hdl.handle.net/10.3846/16111699.2011.620164
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Handle: RePEc:taf:jbemgt:v:13:y:2011:i:1:p:29-52
Template-Type: ReDIF-Article 1.0
Author-Name: Selim Aren
Author-X-Name-First: Selim
Author-X-Name-Last: Aren
Author-Name: Lutfihak Alpkan
Author-X-Name-First: Lutfihak
Author-X-Name-Last: Alpkan
Author-Name: Bulent Sezen
Author-X-Name-First: Bulent
Author-X-Name-Last: Sezen
Author-Name: Ziya Alper Guncu
Author-X-Name-First: Ziya Alper
Author-X-Name-Last: Guncu
Title: Drivers of firms’ debt ratios: evidence from Taiwanese and Turkish firms
Abstract:
Abstract This study investigates the drivers of debt
ratios of the firms listed on the stock markets of two different
countries, namely Turkey, a developing country and Taiwan, a newly
developed country. The factors impacting short-term, long-term, and total
debts are selected as EBIT (Earnings before Interest and Tax), ROE (Return
on Equity), sales, total assets, fixed assets-total assets ratio, and
depreciation-total assets ratio. The findings indicate that there are
differences between Turkish and Taiwanese firms in terms of the
drivers’ impacts on the debt structures of the firms. The proposed
regression models work better on the data collected from Taiwan as
compared to the data from Turkey. Possible reasons are discussed in the
final section.
Journal: Journal of Business Economics and Management
Pages: 53-70
Issue: 1
Volume: 13
Year: 2011
Month: 5
X-DOI: 10.3846/16111699.2011.620142
File-URL: http://hdl.handle.net/10.3846/16111699.2011.620142
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Handle: RePEc:taf:jbemgt:v:13:y:2011:i:1:p:53-70
Template-Type: ReDIF-Article 1.0
Author-Name: Tomas Kačerauskas
Author-X-Name-First: Tomas
Author-X-Name-Last: Kačerauskas
Title: Creative economy and technologies: social, legal and communicative issues
Abstract:
Abstract The article deals with the philosophical
questions of creative economy. Appealing to J. Howkins, R. Florida and
other theorists of creative economy, the author analyses such aspects of
creative economy as the need for enterprise, obsession by consuming,
fusion of labour and leisure, integrality of the activities, striving for
individual autonomy and privacy. The response to economical changes and
social challenges could be creativeness that emerges in certain social and
economical environment. The author pays attention to legal aspects of
creative economy and analyses the role of technologies in the creative
society. The author also focuses on the contradictory aspect of the
copyright and patent right in creative economy. By expressing the
creators’ right to just reward copyright restricts creative
communication while patent right expresses aspirations to privatize social
property, including nature. The relations between technologies and
creative economy refer to social changes, too. Firstly, economic relations
could be treated as social technologies. Secondly, technologies
(especially e-technologies) are the base of creative industries that
ensure economical growth. Thirdly, technologies are indispensable to the
consuming that both demands new products and generates the very economy.
Journal: Journal of Business Economics and Management
Pages: 71-80
Issue: 1
Volume: 13
Year: 2011
Month: 6
X-DOI: 10.3846/16111699.2011.620151
File-URL: http://hdl.handle.net/10.3846/16111699.2011.620151
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Handle: RePEc:taf:jbemgt:v:13:y:2011:i:1:p:71-80
Template-Type: ReDIF-Article 1.0
Author-Name: Juozas Bivainis
Author-X-Name-First: Juozas
Author-X-Name-Last: Bivainis
Author-Name: Renatas Morkvėnas
Author-X-Name-First: Renatas
Author-X-Name-Last: Morkvėnas
Title: INTEGRATED ASSESSMENT OF ORGANIZATION'S KNOWLEDGE POTENTIAL
Abstract:
Abstract Knowledge became a vital resource to all economy
subjects after humans had become capable to catalyze the creation and
spreading of knowledge in the 20th century. It became urgent to be capable
of measuring and assessing knowledge to enhance this resource purposefully
and well-grounded. Although quite a lot of scientific articles, as well as
more popular publications, analyze various aspects of knowledge
management, but the problem of knowledge assessment is yet to be solved.
Although plenty of scientists have researched the theoretical and
practical problems of assessing organization's knowledge potential for a
few decades, a unified and single methodology of assessment has not been
accepted. The outcome of our research is the original concept for
determining knowledge potential, essentially based on new principles. An
assessment of the factors making a real impact helped in building a model
including such components as employee's knowledge potential, knowledge
potential synergy, and organization's environment. The quantitative
specifications of the above introduced components have been prepared.
Practical application of the model has been researched by an experiment
and theoretical modelling.
Journal: Journal of Business Economics and Management
Pages: 81-94
Issue: 1
Volume: 13
Year: 2011
Month: 5
X-DOI: 10.3846/16111699.2011.620152
File-URL: http://hdl.handle.net/10.3846/16111699.2011.620152
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Handle: RePEc:taf:jbemgt:v:13:y:2011:i:1:p:81-94
Template-Type: ReDIF-Article 1.0
Author-Name: Imran Aslan
Author-X-Name-First: Imran
Author-X-Name-Last: Aslan
Author-Name: Orhan Çınar
Author-X-Name-First: Orhan
Author-X-Name-Last: Çınar
Author-Name: Vilmantė Kumpikaitė
Author-X-Name-First: Vilmantė
Author-X-Name-Last: Kumpikaitė
Title: Creating strategies from tows matrix for strategic sustainable development of Kipaş Group
Abstract:
Abstract The aim of this study is to develop new
strategies for sustainable development of a group and to establish a
holding from several companies by considering the regulations in the World
Trade, recent developments in textile sector and raising conflicts among
stakeholders. In this study, internal analysis of the group was carried
out with interviews, observations and surveys. To prepare external
analysis, the economical situation of Turkey and the World was researched
and categorized under standard PEST (Political -- Economic --
Sociocultural -- Technological) categories. Later, SWOT (Strengths,
Weaknesses, Opportunities, and Threats) analysis of the group was prepared
and most significant factors were chosen. Important problems were
identified and the purposes and objectives of the firm were determined by
focusing on opportunities. In the light of these factors, TOWS (Threats,
Opportunities, Weaknesses, and Strengths) matrix was prepared to combine
external and internal factors of the enterprise in order to deploy
strategies. A new organization structure of the group was determined and
presented based on these strategies.
Journal: Journal of Business Economics and Management
Pages: 95-110
Issue: 1
Volume: 13
Year: 2011
Month: 4
X-DOI: 10.3846/16111699.2011.620134
File-URL: http://hdl.handle.net/10.3846/16111699.2011.620134
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Handle: RePEc:taf:jbemgt:v:13:y:2011:i:1:p:95-110
Template-Type: ReDIF-Article 1.0
Author-Name: Gianni Romaní
Author-X-Name-First: Gianni
Author-X-Name-Last: Romaní
Author-Name: Miguel Atienza
Author-X-Name-First: Miguel
Author-X-Name-Last: Atienza
Author-Name: José Ernesto Amorós
Author-X-Name-First: José
Author-X-Name-Last: Ernesto Amorós
Title: Informal investors in Chile: an exploratory study from a gender perspective
Abstract:
Abstract Informal investment represents one of the main
sources to finance early-stage new ventures. Despite the progressive
participation of women in informal investment, little is known about the
characteristics of female informal investors, especially in developing
countries. This study examines the gender differences of a sample of 613
informal investors in Chile. To this end we used the database from the
Global Entrepreneurship Monitor Chile 2007--2008 and applied tests of
differences in proportions and means for independent samples. The results
show that there are significant gender differences in some
socio-demographic variables, like education and work status, and also in
the perception of good opportunities and the fear to failure.
Additionally, women invest smaller amounts and expect lower returns than
men do. Finally, women invest more than men in close family. Policy
implications of these results are discussed.
Journal: Journal of Business Economics and Management
Pages: 111-131
Issue: 1
Volume: 13
Year: 2011
Month: 7
X-DOI: 10.3846/16111699.2011.620141
File-URL: http://hdl.handle.net/10.3846/16111699.2011.620141
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Handle: RePEc:taf:jbemgt:v:13:y:2011:i:1:p:111-131
Template-Type: ReDIF-Article 1.0
Author-Name: Jeffrey E. Jarrett
Author-X-Name-First: Jeffrey E.
Author-X-Name-Last: Jarrett
Author-Name: Tina Sun
Author-X-Name-First: Tina
Author-X-Name-Last: Sun
Title: Association between new york and shanghai markets: evidence from the stock price indices
Abstract:
Abstract This paper examines the time series
characteristics of stock price indices for New York and Shanghai during
the period of 1991 to 2009. Specifically, we calculate the rate of return
and the volatility of return for two markets and estimate the serial
correlation and co-movement of the two markets. We find that the average
rate of return in Shanghai is much higher than that in New York while
Shanghai stock prices are more volatile than New York stock prices.
Further, we find that Shanghai stock prices are positively serially
correlated while New York stock prices are negatively serially correlated
in terms of auto regression of the rate of return. In the multivariate
regressions, we find that there is little evidence to show that either the
rate of return in Shanghai would affect the rate of return in New York or
the rate of return in New York would affect the rate of return in
Shanghai. It suggests that the two markets are not integrated. Last, we
studied and made conclusion concerning the volatility of the New York and
Shanghai indices relate to each other.
Journal: Journal of Business Economics and Management
Pages: 132-147
Issue: 1
Volume: 13
Year: 2011
Month: 7
X-DOI: 10.3846/16111699.2011.620166
File-URL: http://hdl.handle.net/10.3846/16111699.2011.620166
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Handle: RePEc:taf:jbemgt:v:13:y:2011:i:1:p:132-147
Template-Type: ReDIF-Article 1.0
Author-Name: Jurgita Raudeliūnienė
Author-X-Name-First: Jurgita
Author-X-Name-Last: Raudeliūnienė
Author-Name: Ieva Meidutė
Author-X-Name-First: Ieva
Author-X-Name-Last: Meidutė
Author-Name: Giedrius Martinaitis
Author-X-Name-First: Giedrius
Author-X-Name-Last: Martinaitis
Title: Evaluation system for factors affecting creativity in the lithuanian armed forces
Abstract:
Abstract In a constantly changing environment, factors
influencing creativity and approaches to evaluating them, considered
controversial in the scientific literature and in practice, are also
experiencing changes. Different authors evaluate and interpret factors
affecting creativity differently. Consequently, the problem how to
identify and evaluate which of the approaches fully reflects the situation
arises. The present article deals with these problems by combining the
approaches of different authors from the aspects of identification and
evaluation of factors affecting creativity. The aim of the article is to
develop an evaluation system for factors affecting creativity in the
Lithuanian Armed Forces. In an attempt to identify and evaluate factors
affecting creativity, expert and multicriteria methods for evaluation were
applied. A multi-level system for the evaluation of factors affecting
creativity, that creates preconditions favourable for the identification
of factors affecting creativity (by means of the method of determination
of the significance of criteria), more objective evaluation of factors
affecting creativity and development of suggestions for the stimulation of
creativity, was suggested.
Journal: Journal of Business Economics and Management
Pages: 148-166
Issue: 1
Volume: 13
Year: 2011
Month: 11
X-DOI: 10.3846/16111699.2011.639797
File-URL: http://hdl.handle.net/10.3846/16111699.2011.639797
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Handle: RePEc:taf:jbemgt:v:13:y:2011:i:1:p:148-166
Template-Type: ReDIF-Article 1.0
Author-Name: Mohammad Nurunnabi
Author-X-Name-First: Mohammad
Author-X-Name-Last: Nurunnabi
Title: Testing weak-form efficiency of emerging economies: a critical review of literature
Abstract:
Abstract Due to the globalisation and mobilisation of
capital markets, the concept of EMH is gaining a lot of importance in both
developed and emerging economies. Most of the researches on the weak-form
efficiency to date were based on the developed countries. The present
study will seek to provide a comprehensive understanding of the weak-form
efficiency in emerging economies. In terms of practical implications, the
paper has direct implications for future research in EMH in particular
emerging economies. The paper contributes in manly three ways: First, the
paper collates and examines the broader and most effervescent literature
and their findings. Second, it also presents a comprehensive, encompassing
research work and a holistic view of various aspects of weak-form EMH.
Finally, no studies have been conducted to date on a literature review of
EMH weak-form efficiency in emerging economies. Nevertheless, the
limitation of the study is that the findings are presented that may not be
generalized to developed nations, which may be quite different in
socio-cultural and political settings including the behavioral aspects of
investors and the strength of the capital market.
Journal: Journal of Business Economics and Management
Pages: 167-188
Issue: 1
Volume: 13
Year: 2011
Month: 5
X-DOI: 10.3846/16111699.2011.620140
File-URL: http://hdl.handle.net/10.3846/16111699.2011.620140
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Handle: RePEc:taf:jbemgt:v:13:y:2011:i:1:p:167-188
Template-Type: ReDIF-Article 1.0
Author-Name: Mejra Festić
Author-X-Name-First: Mejra
Author-X-Name-Last: Festić
Title: The role of the foreign banks in the 5 EU member states
Abstract:
Abstract The article tests if foreign banks have lowered
their market share in the Baltic States, Romania and Bulgaria during the
recent financial crisis after 2007, due to the perception of risk exposure
in local markets. It has been proved that, the credit supply by foreign
banks in the Baltic States, Romania and Bulgaria has remained relatively
stable during the latest crisis by TSLS method. Foreign ownership
generally utilizes derivative products more than domestic banks in the
NMSs because they have more expertise in hedging and can diversify risks
effectively with their larger parent banks in their home country. The
reaction of foreign banks abroad depends on the capital adequacy of the
parent bank and the business opportunities in the host economies.
Journal: Journal of Business Economics and Management
Pages: 189-206
Issue: 1
Volume: 13
Year: 2011
Month: 6
X-DOI: 10.3846/16111699.2011.620156
File-URL: http://hdl.handle.net/10.3846/16111699.2011.620156
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Handle: RePEc:taf:jbemgt:v:13:y:2011:i:1:p:189-206
Template-Type: ReDIF-Article 1.0
Author-Name: Wei Song
Author-X-Name-First: Wei
Author-X-Name-Last: Song
Title: Possible causes inhibiting the purchase of Chinese grocery own brands: a preliminary study
Abstract:
Abstract The aim of this preliminary study is to identify
the possible causes inhibiting consumers from purchasing Chinese own
brands. In view of the absence of literature on this aspect of commerce in
Asia, a review of Western literature was conducted. The data for this
study is from semi-structured in-depth interviews with Chinese retail
consultants and grocery shoppers in Shanghai, China. The results of the
study show that negative low price image, low perceived own brand quality,
and the importance of “face” in Chinese culture are the key
factors resulting in negative sentiment toward Chinese grocery own brands.
The results of this investigation are expected to provide a basis for
making recommendations for the use of both international and Chinese
retailers when building Chinese grocery own brands. The findings of this
study have been generated from a small group of interviewees in a single
city and thus cannot be considered conclusive. Therefore further research
in other cities of China and other Asian countries should be conducted.
The study offers novel views from the consumer perspective on the
unwillingness to buy own brands in emerging markets.
Journal: Journal of Business Economics and Management
Pages: 207-222
Issue: 2
Volume: 13
Year: 2011
Month: 5
X-DOI: 10.3846/16111699.2011.620160
File-URL: http://hdl.handle.net/10.3846/16111699.2011.620160
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Handle: RePEc:taf:jbemgt:v:13:y:2011:i:2:p:207-222
Template-Type: ReDIF-Article 1.0
Author-Name: Carmen Păunescu
Author-X-Name-First: Carmen
Author-X-Name-Last: Păunescu
Author-Name: Carmen Acatrinei (Pantea)
Author-X-Name-First: Carmen
Author-X-Name-Last: Acatrinei (Pantea)
Title: Managing maturity in process-based improvement organizations: a perspective of the Romanian companies
Abstract:
Abstract Building upon various models from the literature
which assess the maturity level achieved by an organization at one moment
in time, the paper introduces a model which helps organizations,
interested in remaining competitive and achieving sustainability, to
monitor and evaluate their process performance. Such as, the paper
analyzes the relationships that exist among the critical components of an
organization's management system at the strategic and operational level so
that key drivers will become the heart of sustainable development. In
particular, the paper focuses on how the organizational system influences
process maturity profile of the Romanian companies. Data were collected in
face-to-face structured-questionnaire interviews from 1302 public and
private organizations from Romania. The dearth of empirical research
examining organization process maturity in emerging countries constitutes
a critical gap in the business process management literature that needs
much more attention from scholars. For the purpose of this paper, a factor
analysis was employed to explain the pattern of correlations within a set
of observed variables that determine the process maturity profile of the
Romanian companies. The research results show that there are strong
positive correlations between the variables examined that account for a
higher level of maturity and performance of organization's processes.
Journal: Journal of Business Economics and Management
Pages: 223-241
Issue: 2
Volume: 13
Year: 2011
Month: 5
X-DOI: 10.3846/16111699.2011.620149
File-URL: http://hdl.handle.net/10.3846/16111699.2011.620149
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Handle: RePEc:taf:jbemgt:v:13:y:2011:i:2:p:223-241
Template-Type: ReDIF-Article 1.0
Author-Name: Ljudevit Pranic
Author-X-Name-First: Ljudevit
Author-X-Name-Last: Pranic
Author-Name: Wesley S. Roehl
Author-X-Name-First: Wesley S.
Author-X-Name-Last: Roehl
Title: Rethinking service recovery: a customer empowerment (CE) perspective
Abstract:
Abstract Generally, complainants have been given little
power to effect how their service recovery encounter unfolds. Meanwhile,
the satisfactory resolution of customer complaints has been a challenging
task for many service organizations. Empowering customers in service
recovery provides a solution for this challenge. However, the studies on
customer empowerment (CE) have taken very narrow perspectives of CE and
therefore, none of them individually can explain the nature of CE in
service recovery situations among various services that represent the
services industry. Based upon the review of the previous research, this
article proposes a more integrative theoretical framework in an attempt to
better describe and explain the customers’ view of CE in the
management of service recovery encounters. According to the proposed
model, the degree of complainant-perceived empowerment during service
recovery determines both the level of complainant's affective/cognitive
responses and the level of subsequent complaint satisfaction. Implications
are provided and discussed from both practical and theoretical
perspectives.
Journal: Journal of Business Economics and Management
Pages: 242-260
Issue: 2
Volume: 13
Year: 2011
Month: 5
X-DOI: 10.3846/16111699.2011.620137
File-URL: http://hdl.handle.net/10.3846/16111699.2011.620137
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Handle: RePEc:taf:jbemgt:v:13:y:2011:i:2:p:242-260
Template-Type: ReDIF-Article 1.0
Author-Name: K. Azim Özdemir
Author-X-Name-First: K. Azim
Author-X-Name-Last: Özdemir
Author-Name: Özgür Özel
Author-X-Name-First: Özgür
Author-X-Name-Last: Özel
Title: Regime changes in monetary policy and the Expectation Hypothesis of the term structure in Turkey
Abstract:
Abstract In this study we test the long-run validity of
the Expectation Hypothesis of the Term Structure (EHTS) in Turkey by using
monthly interest rate series from 2003m1 to 2010m1. The data set is
obtained from the bonds and bills market for the government securities in
the Istanbul Stock Exchange (ISE). Several results arise from our
empirical analysis. First, we find strong evidence that there are
stationary combinations of the long and short rates during the sample
period. Secondly, when we restrict the cointegrating vectors to be the
spread vectors between short and long rates we are not able to reject the
restriction if the dynamic specifications of the systems include 2 lags of
the interest rates. This result, however, is not robust to the lag length
of 4 and 6 if the systems include interest rates with maturities longer
than 6 months. Finally, the formal stability test results suggest that the
regime change from the implicit to the full-fledged inflation targeting
(IT) has no significant effect on the relationship among the interest
rates on the short end of the term structure while the structural
instability found in the relationship between the short rates and the long
rates with maturity longer than 6 months might indicate the effect of the
regime shift on this relationship. These results are in line with the
conclusions of the literature that argues the EHTS to hold for the short
end of the term structure when the focus of the monetary policy is to
stabilize the short-term interest rates.
Journal: Journal of Business Economics and Management
Pages: 261-274
Issue: 2
Volume: 13
Year: 2011
Month: 5
X-DOI: 10.3846/16111699.2011.620146
File-URL: http://hdl.handle.net/10.3846/16111699.2011.620146
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Handle: RePEc:taf:jbemgt:v:13:y:2011:i:2:p:261-274
Template-Type: ReDIF-Article 1.0
Author-Name: A. Nazif Çatik
Author-X-Name-First: A.
Author-X-Name-Last: Nazif Çatik
Author-Name: Mehmet Karaçuka
Author-X-Name-First: Mehmet
Author-X-Name-Last: Karaçuka
Title: A comparative analysis of alternative univariate time series models in forecasting Turkish inflation
Abstract:
Abstract This paper analyses inflation forecasting power
of artificial neural networks with alternative univariate time series
models for Turkey. The forecasting accuracy of the models is compared in
terms of both static and dynamic forecasts for the period between 1982:1
and 2009:12. We find that at earlier forecast horizons conventional
models, especially ARFIMA and ARIMA, provide better one-step ahead
forecasting performance. However, unobserved components model turns out to
be the best performer in terms of dynamic forecasts. The superiority of
the unobserved components model suggests that inflation in Turkey has time
varying pattern and conventional models are not able to track underlying
trend of inflation in the long run.
Journal: Journal of Business Economics and Management
Pages: 275-293
Issue: 2
Volume: 13
Year: 2011
Month: 4
X-DOI: 10.3846/16111699.2011.620135
File-URL: http://hdl.handle.net/10.3846/16111699.2011.620135
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Handle: RePEc:taf:jbemgt:v:13:y:2011:i:2:p:275-293
Template-Type: ReDIF-Article 1.0
Author-Name: Renata Korsakienė
Author-X-Name-First: Renata
Author-X-Name-Last: Korsakienė
Author-Name: Manuela Tvaronavičienė
Author-X-Name-First: Manuela
Author-X-Name-Last: Tvaronavičienė
Title: The internationalization of SMEs: an integrative approach
Abstract:
Abstract Presented paper aims to compare
internationalization of Lithuanian and Norwegian SMEs by exploring the
main motives and barriers restricting internationalization process. The
authors strive to reveal the patterns of internationalization taking into
account the aspects of main theoretical models. The research is based on
the main ideas of stage, network and international entrepreneurship
approaches. The main motives and barriers restricting internationalization
process are based on the previous studies. In order to compare
internationalization patterns of Lithuanian and Norwegian SMEs,
quantitative research has been performed. The quantitative research is
based on responses to a questionnaire embracing various aspects of
internationalization. The sample of 300 SMEs was selected taking into
consideration previous research. The survey allows concluding that
Lithuanian SMEs emphasise geographic proximity as the most important
criteria for international market selection. On the other hand, Norwegian
SMEs perceive variables of international entrepreneurship theory as the
important contributory factors in internationalization process. The
authors conclude that Lithuanian SMEs rely on exporting; meanwhile
Norwegian SMEs choose subcontracting/licensing or own representative
abroad. Hence, Norwegian SMEs are seen at the more advanced stage of
internationalization. Authors of the research have elaborated proposals,
which are useful for further development of Lithuanian SMEs and take into
consideration experience of Norwegian SMEs. The presented paper will
contribute to the International Entrepreneurship Forum by providing new
insights into further development of SMEs of Lithuania and Norway taking
into consideration opportunities and threats.
Journal: Journal of Business Economics and Management
Pages: 294-307
Issue: 2
Volume: 13
Year: 2011
Month: 3
X-DOI: 10.3846/16111699.2011.620138
File-URL: http://hdl.handle.net/10.3846/16111699.2011.620138
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Handle: RePEc:taf:jbemgt:v:13:y:2011:i:2:p:294-307
Template-Type: ReDIF-Article 1.0
Author-Name: Kazuyuki Motohashi
Author-X-Name-First: Kazuyuki
Author-X-Name-Last: Motohashi
Author-Name: Deog-Ro Lee
Author-X-Name-First: Deog-Ro
Author-X-Name-Last: Lee
Author-Name: Yeong-Wha Sawng
Author-X-Name-First: Yeong-Wha
Author-X-Name-Last: Sawng
Author-Name: Seung-Ho Kim
Author-X-Name-First: Seung-Ho
Author-X-Name-Last: Kim
Title: Innovative converged service and its adoption, use and diffusion: a holistic approach to diffusion of innovations, combining adoption-diffusion and use-diffusion paradigms
Abstract:
Abstract This study takes a holistic approach to
understanding the diffusion of IPTV services by combining the
adoption-diffusion model and the use-diffusion model of innovation. IPTV
service, a leading converged application that couples media content with
telecom services, was recently launched commercially in Korea. We created
a structural model of adoption-diffusion, using the perceived ease-of-use
and usefulness of TAM (Technology Acceptance Model) as mediating
variables, and a structural model of usediffusion, with the rate of use
and the variety of use as mediating variables. To empirically analyze
these models, non-users of IPTV were surveyed using the adoptiondiffusion
model to identify factors influencing their intention to subscribe to the
service. Meanwhile, users of IPTV were surveyed using the use-diffusion
model to determine the factors that influence their satisfaction with the
service and their intention to re-use it. Under the adoption-diffusion
model, we found that trialability, household innovativeness and perceived
risk were the determinants of user satisfaction with IPTV, and perceived
ease-of-use, the mediating factor. Under the use-diffusion model,
complementarity and communication were shown to be the determinants of
users’ satisfaction with IPTV, and variety of use, the mediating
factor. We also found that consumers’ intentions to re-use IPTV was
strongly influenced by its relative advantages and perceived risks.
Journal: Journal of Business Economics and Management
Pages: 308-333
Issue: 2
Volume: 13
Year: 2011
Month: 4
X-DOI: 10.3846/16111699.2011.620147
File-URL: http://hdl.handle.net/10.3846/16111699.2011.620147
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Handle: RePEc:taf:jbemgt:v:13:y:2011:i:2:p:308-333
Template-Type: ReDIF-Article 1.0
Author-Name: Yu Hsing
Author-X-Name-First: Yu
Author-X-Name-Last: Hsing
Author-Name: Wen-jen Hsieh
Author-X-Name-First: Wen-jen
Author-X-Name-Last: Hsieh
Title: Impacts of macroeconomic variables on the stock market index in Poland: new evidence
Abstract:
Abstract Applying the GARCH or ARCH model, this paper
finds that Poland's stock market index is positively associated with
industrial production or real GDP and the German stock market index,
negatively affected by the government borrowing/GDP ratio, the real
interest rate, the nominal effective exchange rate, the expected inflation
rate, and the government bond yield in the euro area, and exhibits a
quadratic relationship with the M2/GDP ratio. It suggests that the stock
market index and the M2/GDP ratio show a positive (negative) relationship
if the M2/GDP ratio is less (greater) than the critical value of 43.68%.
Hence, to maintain a healthy stock market, the Polish authorities are
expected to pursue economic growth, reduce government borrowing, avoid
currency appreciation, and keep a relatively low interest rate or a
relatively low expected inflation rate. Although currency appreciation has
a negative impact on the stock market index, it is possible that the
negative relationship might change if a certain threshold value is reached
in the future.
Journal: Journal of Business Economics and Management
Pages: 334-343
Issue: 2
Volume: 13
Year: 2011
Month: 5
X-DOI: 10.3846/16111699.2011.620133
File-URL: http://hdl.handle.net/10.3846/16111699.2011.620133
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Handle: RePEc:taf:jbemgt:v:13:y:2011:i:2:p:334-343
Template-Type: ReDIF-Article 1.0
Author-Name: Jan Stejskal
Author-X-Name-First: Jan
Author-X-Name-Last: Stejskal
Author-Name: Petr Hajek
Author-X-Name-First: Petr
Author-X-Name-Last: Hajek
Title: Competitive advantage analysis: a novel method for industrial clusters identification
Abstract:
Abstract Many regions and their representatives decide on
the amount of support they will provide to industrial clusters, their
births, and their existing phase based on the public budget. Nowadays the
efficiency of public spending must be provided. There are many examples
showing situations where industrial clusters were cancelled when public
support was limited or no longer available. Through the use of a special
diagnostic method, one can find out if the industrial cluster is able to
rise and also be viable without massive public budget support. The
suggestion of a new method for industrial cluster identification is the
aim of this paper. The Porter's diamond model of the cluster's
competitiveness environment is the substance of the novel method.
Journal: Journal of Business Economics and Management
Pages: 344-365
Issue: 2
Volume: 13
Year: 2011
Month: 5
X-DOI: 10.3846/16111699.2011.620154
File-URL: http://hdl.handle.net/10.3846/16111699.2011.620154
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Handle: RePEc:taf:jbemgt:v:13:y:2011:i:2:p:344-365
Template-Type: ReDIF-Article 1.0
Author-Name: Keng-Boon Ooi
Author-X-Name-First: Keng-Boon
Author-X-Name-Last: Ooi
Author-Name: Binshan Lin
Author-X-Name-First: Binshan
Author-X-Name-Last: Lin
Author-Name: Pei-Lee Teh
Author-X-Name-First: Pei-Lee
Author-X-Name-Last: Teh
Author-Name: Alain Yee-Loong Chong
Author-X-Name-First: Alain Yee-Loong
Author-X-Name-Last: Chong
Title: Does TQM support innovation performance in Malaysia's manufacturing industry?
Abstract:
Abstract This empirical study examines the association of
TQM practices (i.e. leadership, customer focus, strategic planning, people
management, information analysis and process management) with the
innovation performance as perceived by the managers in Malaysia. The
research model is constructed on the basis of established theory and on
well-known criteria such as Malcolm Baldrige National Quality Award. Six
hypotheses are formulated and tested by multiple regression based on a
sample of 206 managers working in the ISO 9001:2000 certified
manufacturing firms in Malaysia. The results of this study show that TQM
has a significant positive relationship with innovation performance. In
particular, the findings of this study show that process management,
strategic planning, people management and customer focus have positive
relationships with innovation performance of firms surveyed in Malaysia.
Therefore, both researchers and practitioners are advised to consider
these relevant TQM practices when assessing the innovation performance of
an organization. Implications for managers and researchers, as well as
study limitations are also discussed.
Journal: Journal of Business Economics and Management
Pages: 366-393
Issue: 2
Volume: 13
Year: 2011
Month: 6
X-DOI: 10.3846/16111699.2011.620155
File-URL: http://hdl.handle.net/10.3846/16111699.2011.620155
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Handle: RePEc:taf:jbemgt:v:13:y:2011:i:2:p:366-393
Template-Type: ReDIF-Article 1.0
Author-Name: J. Augusto Felício
Author-X-Name-First: J. Augusto
Author-X-Name-Last: Felício
Author-Name: Eduardo Couto
Author-X-Name-First: Eduardo
Author-X-Name-Last: Couto
Author-Name: Jorge Caiado
Author-X-Name-First: Jorge
Author-X-Name-Last: Caiado
Title: Human capital and social capital in entrepreneurs and managers of small and medium enterprises
Abstract:
Abstract This paper uses factor analysis methods to
identify structures associated with human and social capital in a small
country with an open-economy, based on a survey of small- and medium-sized
companies across different sectors. The purpose of this research is to
investigate the influences of entrepreneurial and managerial behaviours on
the relationship between human capital and social capital. The results
indicate that the principal factor is highly correlated to the variables
of experience, professional proficiency and cognitive ability, which are
predominant characteristics of the entrepreneur, as well as status
variables such as interlinking, family support, personal relations and
social relations. The study also suggests that links between human capital
and social capital are more salient in manufacturing and construction
companies than in the wholesale trade, retail trade and services sectors.
Journal: Journal of Business Economics and Management
Pages: 395-420
Issue: 3
Volume: 13
Year: 2011
Month: 6
X-DOI: 10.3846/16111699.2011.620139
File-URL: http://hdl.handle.net/10.3846/16111699.2011.620139
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Handle: RePEc:taf:jbemgt:v:13:y:2011:i:3:p:395-420
Template-Type: ReDIF-Article 1.0
Author-Name: Banu Durukan
Author-X-Name-First: Banu
Author-X-Name-Last: Durukan
Author-Name: Serdar Ozkan
Author-X-Name-First: Serdar
Author-X-Name-Last: Ozkan
Author-Name: Fatih Dalkilic
Author-X-Name-First: Fatih
Author-X-Name-Last: Dalkilic
Title: CEO turnover and corporate performance relationship in pre- and post- IFRS period: evidence from Turkey
Abstract:
Abstract This study investigates CEO turnover and
corporate performance relationship as a measure of the effectiveness of a
corporate governance system. The impact of different financial accounting
regimes on the turnover/performance relationship is also analyzed. If
systems replace poorly performing managers, they are considered as not
ineffective. The results provide evidence that corporate governance
systems with poor governance characteristics may not be ineffective, due
to the existence of alternative governance mechanisms. The disciplinary
CEO turnover is found to be more strongly associated with corporate
performance compared to voluntary CEO turnover, whereas in the IFRS
subsample the relationship is stronger with contemporaneous performance
measures.
Journal: Journal of Business Economics and Management
Pages: 421-442
Issue: 3
Volume: 13
Year: 2011
Month: 5
X-DOI: 10.3846/16111699.2011.620145
File-URL: http://hdl.handle.net/10.3846/16111699.2011.620145
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Handle: RePEc:taf:jbemgt:v:13:y:2011:i:3:p:421-442
Template-Type: ReDIF-Article 1.0
Author-Name: Paulo Maçãs Nunes
Author-X-Name-First: Paulo Maçãs
Author-X-Name-Last: Nunes
Author-Name: Ana Viveiros
Author-X-Name-First: Ana
Author-X-Name-Last: Viveiros
Author-Name: Zélia Serrasqueiro
Author-X-Name-First: Zélia
Author-X-Name-Last: Serrasqueiro
Title: Are the determinants of young SME profitability different? Empirical evidence using dynamic estimators
Abstract:
Abstract Using two step method, namely probit regressions
and dynamic estimators, and on the basis of two sub-samples of Portuguese
SMEs: 1) 495 young SMEs; and 2) 1350 old SMEs, this study seeks to verify
if age is a important factor of the relationships between determinants and
profitability. Age, size, liquidity and long-term debt are of greater
relative importance for the increased profitability, while risk is of
greater relative importance for diminished profitability of young SMEs,
compared to the case of old SMEs. R&D expenditure is of greater relative
importance for increased profitability in old SMEs. Additionally, old SMEs
have more persistent profitability than do young SMEs.
Journal: Journal of Business Economics and Management
Pages: 443-470
Issue: 3
Volume: 13
Year: 2011
Month: 5
X-DOI: 10.3846/16111699.2011.620148
File-URL: http://hdl.handle.net/10.3846/16111699.2011.620148
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Handle: RePEc:taf:jbemgt:v:13:y:2011:i:3:p:443-470
Template-Type: ReDIF-Article 1.0
Author-Name: Chee-Heong Quah
Author-X-Name-First: Chee-Heong
Author-X-Name-Last: Quah
Title: Is East Asia as prepared as eurozone for monetary union?
Abstract:
Abstract Based on optimum currency areas (OCA) theory and
recent developments in the exchange rate regime literature, this paper
evaluates the level of preparedness of East Asia for monetary integration
by using the EMU as benchmark. Ten macroeconomic dimensions are explored
in which the first five facets are measured relative to a reference
country, namely the US, Japan, or China whilst the remaining five facets
are measured in absolute terms, over the most recent years. In some ways,
the exercise does signify the relative economic dominance of the three
largest economies to the region. Results suggest that East Asia might be
fairly prepared for a monetary integration especially when the reference
country is the US. Another interesting observation is that amongst the
eurozone founding members, Ireland has shown the lowest degree of
conformity in a number of the criteria.
Journal: Journal of Business Economics and Management
Pages: 471-488
Issue: 3
Volume: 13
Year: 2011
Month: 4
X-DOI: 10.3846/16111699.2011.620136
File-URL: http://hdl.handle.net/10.3846/16111699.2011.620136
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Handle: RePEc:taf:jbemgt:v:13:y:2011:i:3:p:471-488
Template-Type: ReDIF-Article 1.0
Author-Name: Mehmet Huseyin Bilgin
Author-X-Name-First: Mehmet Huseyin
Author-X-Name-Last: Bilgin
Author-Name: Chi Keung Marco Lau
Author-X-Name-First: Chi Keung
Author-X-Name-Last: Marco Lau
Author-Name: Gokhan Karabulut
Author-X-Name-First: Gokhan
Author-X-Name-Last: Karabulut
Title: Technology transfer and enterprise performance: a firm-level analysis in China
Abstract:
Abstract This paper attempts to explore the relationship
between openness and a Chinese firm's productivity using 1999--2002 panel
data on 26 industries covering 2400 enterprises. The current literature
has focused mainly on the relationship between productivity and exports,
using country-level data, leaving a gap in the relationship between
imports and productivity unfilled, in particular at the firm specific
level. However, our study complements the existing literature by using the
latest set of data, and more importantly, by examining the effects of
exports and importing machinery on the firm's performance. Using the
dynamic panel data econometrics technique, we find evidence that firms can
improve productivity by importing more capital good and utilizing foreign
technologies from technologically advanced economies. Finally the effects
of importing capital goods on productivities and that of exporting
activities are compared.
Journal: Journal of Business Economics and Management
Pages: 489-498
Issue: 3
Volume: 13
Year: 2011
Month: 4
X-DOI: 10.3846/16111699.2011.620144
File-URL: http://hdl.handle.net/10.3846/16111699.2011.620144
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Handle: RePEc:taf:jbemgt:v:13:y:2011:i:3:p:489-498
Template-Type: ReDIF-Article 1.0
Author-Name: Manuel Salas Velasco
Author-X-Name-First: Manuel Salas
Author-X-Name-Last: Velasco
Title: More than just good grades: candidates’ perceptions about the skills and attributes employers seek in new graduates
Abstract:
Abstract There is a common belief among university
students that they have to study hard attempting to earn high grades
because employers are targeting graduates with outstanding academic
records. However, this idea does not seem to capture what is actually
happening in organizations, as firms value more aspects related with
personality and other personal qualities of young graduates. We present a
case study of the hiring process of recent university graduates to test
these hypotheses. The methodology used follows a two stage approach.
Principal component analysis allows us to identify first key categories of
skills and attributes that influence the selection process. Then, using
econometric analysis, a matrix classifies them according to employer size
and type, degree, position and industry. The results show that soft skills
(personality and other qualities) are the most required attributes in the
selection process. Good academic records only matter in the public sector.
Journal: Journal of Business Economics and Management
Pages: 499-517
Issue: 3
Volume: 13
Year: 2011
Month: 6
X-DOI: 10.3846/16111699.2011.620150
File-URL: http://hdl.handle.net/10.3846/16111699.2011.620150
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Handle: RePEc:taf:jbemgt:v:13:y:2011:i:3:p:499-517
Template-Type: ReDIF-Article 1.0
Author-Name: Boris Urban
Author-X-Name-First: Boris
Author-X-Name-Last: Urban
Title: The effect of pro-entrepreneurship architecture on organisational outcomes
Abstract:
Abstract Recent years have seen considerable work at the
interface between business, management, entrepreneurship and strategy and
as a result, new research domains have appeared including corporate
entrepreneurship and entrepreneurial strategy. The purpose of this article
is to understand the effect that corporate entrepreneurship strategy has
on firms to revitalize, reconfigure resources and transform into firms
that are ready to compete in the global economy. Empirical tests are
conducted to determine to what extent elements of pro-entrepreneurship
architecture are able to predict development capability, strategic
repositioning, and growth based outcomes. A first-phase survey is
conducted to verify the presence and strength of entrepreneurial
orientation while the second phase of the study identifies elements of
organizational architecture able to predict firm outcomes. The main
contribution of this article is that firms resourcing and rewarding
policies, as well as cultural and structural orientations, derived from a
corporate entrepreneurship strategy, play a significant role in realizing
desired outcomes. The study has important implications for emerging
economies where growth is often the primary goal of organizations, and
where corporate entrepreneurship can be critical for firm profitability
and survival.
Journal: Journal of Business Economics and Management
Pages: 518-545
Issue: 3
Volume: 13
Year: 2011
Month: 6
X-DOI: 10.3846/16111699.2011.620153
File-URL: http://hdl.handle.net/10.3846/16111699.2011.620153
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Handle: RePEc:taf:jbemgt:v:13:y:2011:i:3:p:518-545
Template-Type: ReDIF-Article 1.0
Author-Name: Abu Naser Chowdhury
Author-X-Name-First: Abu Naser
Author-X-Name-Last: Chowdhury
Author-Name: Po-Han Chen
Author-X-Name-First: Po-Han
Author-X-Name-Last: Chen
Author-Name: Robert Lee Kong Tiong
Author-X-Name-First: Robert Lee Kong
Author-X-Name-Last: Tiong
Title: Establishing SPV for power projects in Asia: an analysis of critical financial and legal factors
Abstract:
Abstract One of the main reasons for the success of Public
Private Partnership (PPP) projects is the creation of separate commercial
venture named ‘Special Purpose Vehicle’ (SPV). SPV provides
a good framework for raising funds, linking participants legally and
assuring supply, production and marketing of products. SPV brings together
various parties like lenders, financial institutions, public sector and
export credit agencies, guarantors, suppliers and off-takers. There is
often a lack of precedents to identify factors of SPV and the process is
further hampered by undeveloped financial and legal structures of a
country. A number of factors need to be considered before setting up of
SPV for PPP projects. A questionnaire survey was thus conducted to explore
the most important factors in setting up SPV for PPP power projects from a
wide range of personnel involved in the PPP processes in Asia. The
objective of this paper is to investigate the current practice of setting
up SPV and associated legal and financial impacts onto it. Analysis of the
response data reflects experts’ opinion in identifying the
influential factors and the choices in setting up SPV for PPP power
projects in Asia. The findings of the paper would help the public sector
in implementing PPP power policy development and private sector sponsors
in managing the projects.
Journal: Journal of Business Economics and Management
Pages: 546-566
Issue: 3
Volume: 13
Year: 2011
Month: 11
X-DOI: 10.3846/16111699.2011.643446
File-URL: http://hdl.handle.net/10.3846/16111699.2011.643446
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Handle: RePEc:taf:jbemgt:v:13:y:2011:i:3:p:546-566
Template-Type: ReDIF-Article 1.0
Author-Name: Claudio Giachetti
Author-X-Name-First: Claudio
Author-X-Name-Last: Giachetti
Title: A resource-based perspective on the relationship between service diversification and firm performance: evidence from Italian facility management firms
Abstract:
Abstract In this article, a theoretical framework to study
the effect of service diversification on firm financial performance is
demonstrated. Data on 48 Italian facility management firms from between
2000 and 2009 show a consistent inverse U-shaped relationship between
service diversification and firm performance, with the slope positive at
low and moderate levels of service diversification but negative at high
levels of service diversification. Further, the results show that firm
experience in the service industry and firm affiliation to a consortium
positively moderate the relationship between service diversification and
performance. The results of this study provide evidence of the importance
of service diversification strategies for gaining a competitive advantage.
Journal: Journal of Business Economics and Management
Pages: 567-585
Issue: 3
Volume: 13
Year: 2011
Month: 9
X-DOI: 10.3846/16111699.2011.624630
File-URL: http://hdl.handle.net/10.3846/16111699.2011.624630
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Handle: RePEc:taf:jbemgt:v:13:y:2011:i:3:p:567-585
Template-Type: ReDIF-Article 1.0
Author-Name: Jer-Shiou Chiou
Author-X-Name-First: Jer-Shiou
Author-X-Name-Last: Chiou
Author-Name: Bor-Yi Huang
Author-X-Name-First: Bor-Yi
Author-X-Name-Last: Huang
Author-Name: Pei-Shan Wu
Author-X-Name-First: Pei-Shan
Author-X-Name-Last: Wu
Author-Name: Chun-Ni Tsai
Author-X-Name-First: Chun-Ni
Author-X-Name-Last: Tsai
Title: The impacts of diversified operations on lending of financial institution
Abstract:
Abstract This study explores the impacts of bank's
diversified operations on their loans, the threshold effect of bank's
derivatives trading and the impacts on their financial behaviors are
investigated. The results show that there are two separate regime effects
for banks in large-sized and medium-sized, and three regime effects for
banks in small to medium-sized. Derivatives trading not only make banks
easier to diversify their credit risk exposure, but also alter their
lending behaviors. As an example of large banks, when banks
derivatives’ trading is more than US$61 billion, an increase in
banks assets will associate with a corresponding increase in loans to
SMEs. If trading in derivatives by the banks is less than the threshold
value, the banks will make loans less available to SMEs when there is an
increase in banks assets. In addition, when banks are less aggressive in
derivatives trading, debt ratio, pre-tax earnings and the SME credit
guarantee balance all have significantly positive associations with loans
to SMEs.
Journal: Journal of Business Economics and Management
Pages: 587-599
Issue: 4
Volume: 13
Year: 2011
Month: 6
X-DOI: 10.3846/16111699.2011.620158
File-URL: http://hdl.handle.net/10.3846/16111699.2011.620158
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Handle: RePEc:taf:jbemgt:v:13:y:2011:i:4:p:587-599
Template-Type: ReDIF-Article 1.0
Author-Name: Riona Arjoon
Author-X-Name-First: Riona
Author-X-Name-Last: Arjoon
Author-Name: Mariëtte Botes
Author-X-Name-First: Mariëtte
Author-X-Name-Last: Botes
Author-Name: Laban K. Chesang
Author-X-Name-First: Laban K.
Author-X-Name-Last: Chesang
Author-Name: Rangan Gupta
Author-X-Name-First: Rangan
Author-X-Name-Last: Gupta
Title: The long-run relationship between inflation and real stock prices: empirical evidence from South Africa
Abstract:
Abstract The existing literature on the theoretical
relationship between the rate of inflation and real stock prices in an
economy has shown varied predictions about the long run effects of
inflation on real stock prices. In this paper, we present some time series
evidence on this issue using South African data, by applying the
structural bivariate vector autoregressive (VAR) methodology proposed by
King and Watson (1997). Our empirical results provide considerable support
of the view that, in the long run real stock prices are invariant to
permanent changes in the rate of inflation. The impulse responses reveal a
positive real stock price response to a permanent inflation shock in the
long run, indicating that any deviations in short run real stock prices
will be corrected towards the long run value. It is therefore concluded
that inflation does not lower the real value of stocks in South Africa, at
least in the long run.
Journal: Journal of Business Economics and Management
Pages: 600-613
Issue: 4
Volume: 13
Year: 2011
Month: 7
X-DOI: 10.3846/16111699.2011.620162
File-URL: http://hdl.handle.net/10.3846/16111699.2011.620162
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Handle: RePEc:taf:jbemgt:v:13:y:2011:i:4:p:600-613
Template-Type: ReDIF-Article 1.0
Author-Name: Osman M. Karatepe
Author-X-Name-First: Osman M.
Author-X-Name-Last: Karatepe
Author-Name: Georgiana Karadas
Author-X-Name-First: Georgiana
Author-X-Name-Last: Karadas
Title: The effect of management commitment to service quality on job embeddedness and performance outcomes
Abstract:
Abstract The purpose of this study is to develop and test
a conceptual model that examines job embeddedness as a partial mediator of
the impact of management commitment to service quality on service recovery
performance and extra-role customer service. Training, empowerment, and
rewards are regarded as the three important indicators of management
commitment to service quality. Data were obtained from a sample of
fulltime frontline hotel employees with a time lag of one week in Romania.
The results reveal that training, empowerment, and rewards are positively
related to job embeddedness. As hypothesized, empowerment, rewards, and
job embeddedness enhance service recovery performance, while training and
empowerment increase extra-role customer service. The results further
demonstrate that job embeddedness acts as a partial mediator of the
effects of empowerment and rewards on service recovery performance.
Implications of the results are discussed and future research directions
are offered.
Journal: Journal of Business Economics and Management
Pages: 614-636
Issue: 4
Volume: 13
Year: 2011
Month: 7
X-DOI: 10.3846/16111699.2011.620159
File-URL: http://hdl.handle.net/10.3846/16111699.2011.620159
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Handle: RePEc:taf:jbemgt:v:13:y:2011:i:4:p:614-636
Template-Type: ReDIF-Article 1.0
Author-Name: Javier Sánchez-Vidal
Author-X-Name-First: Javier
Author-X-Name-Last: Sánchez-Vidal
Author-Name: Juan Francisco Martín-Ugedo
Author-X-Name-First: Juan Francisco
Author-X-Name-Last: Martín-Ugedo
Title: Are the implications of the financial growth cycle confirmed for Spanish SMEs?
Abstract:
Abstract The aim of this paper is to analyze whether some
of the empirical implications of the financial growth cycle hold in a
sample of Spanish SMEs. We use a sample of 5,944 observations for the year
2007 and test several hypotheses using MANOVA analysis. The results show
that companies tend to have different financing structures depending on
their age and size. Hypotheses about trade credit, short term debt and
risk are confirmed with respect to age, as the younger companies tend to
use proportionally more trade credit and short term debt, and are riskier.
Size is also associated in the expected way with trade credit, relative
trade credit and relative short-term financial debt. On the other hand
hypotheses about equity and the financing deficit are not confirmed. The
effect of a pecking order behaviour over a long period of time may provide
an explanation of why these two hypotheses are not confirmed.
Journal: Journal of Business Economics and Management
Pages: 637-665
Issue: 4
Volume: 13
Year: 2011
Month: 7
X-DOI: 10.3846/16111699.2011.620161
File-URL: http://hdl.handle.net/10.3846/16111699.2011.620161
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Handle: RePEc:taf:jbemgt:v:13:y:2011:i:4:p:637-665
Template-Type: ReDIF-Article 1.0
Author-Name: Mateja Bodlaj
Author-X-Name-First: Mateja
Author-X-Name-Last: Bodlaj
Author-Name: Germa Coenders
Author-X-Name-First: Germa
Author-X-Name-Last: Coenders
Author-Name: Vesna Zabkar
Author-X-Name-First: Vesna
Author-X-Name-Last: Zabkar
Title: Responsive and proactive market orientation and innovation success under market and technological turbulence
Abstract:
Abstract The study investigates how market and
technological changes in an organization's business environment moderate
the relationships between responsive and proactive market orientation,
innovation success, and market success of the organization. The
respondents in the study were senior managers of companies operating in a
Central European country. The Internet survey resulted in 441 usable
questionnaires. Data were analyzed using a non-linear structural equation
models with MPLUS5. The results provide support for distinguishing between
the two complementary forms of market orientation, proactive and
responsive. While proactive market orientation is a determinant of both
innovation and market success of the organization, the impact of
responsive market orientation on the innovation and market success is
positive and significant only in a rapidly changing market environment.
Companies can improve their innovation success and in turn market success
by improving their proactive market orientation, i.e. by investing
resources in exploring customer needs, customer problems with existing
products and latent customer needs. The study contributes to the
literature by examining the entire chain of relationships between market
orientation, innovation success and market success by adopting both a
responsive and proactive market orientation. It is the first study that
examines these relationships in the context of companies from a European
country and with consideration of market turbulence/changes.
Journal: Journal of Business Economics and Management
Pages: 666-687
Issue: 4
Volume: 13
Year: 2011
Month: 8
X-DOI: 10.3846/16111699.2011.620143
File-URL: http://hdl.handle.net/10.3846/16111699.2011.620143
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Handle: RePEc:taf:jbemgt:v:13:y:2011:i:4:p:666-687
Template-Type: ReDIF-Article 1.0
Author-Name: Sai On Cheung
Author-X-Name-First: Sai On
Author-X-Name-Last: Cheung
Author-Name: Peter S. P. Wong
Author-X-Name-First: Peter S. P.
Author-X-Name-Last: Wong
Author-Name: Anna L. Lam
Author-X-Name-First: Anna L.
Author-X-Name-Last: Lam
Title: An investigation of the relationship between organizational culture and the performance of construction organizations
Abstract:
Abstract The operation of organizations is very much
influenced by their culture. Organizational culture (OC) has been defined
as a pattern of basic assumptions that are manifested by the behavior of
an organization. Positive OC is considered to be catalytic to performance
enhancement. As construction aspires to be an efficient industry, this
study aims to contribute in this regard by examining the relationship
between organizational culture and the performance of construction
organizations. Artifacts corresponding to OC identifiers and Performance
indicators are short-listed from a literature review. These artifacts are
arranged into constructs. The eight OC constructs are: Goal Clarity,
Coordination and Integration, Conflict Resolution, Employee Participation,
Innovation Orientation, Performance Emphasis, Reward Orientation and Team
orientation. The performance indicator constructs are; Financial, Internal
Business Process, Custom and Innovation & Learning. The artifacts were
elaborated and operationalized for data collection. The constructs, as
well as the OC-Performance relationship framework, were then analyzed and
tested using Structural Equation Modeling. Innovation was found to be the
most critical OC as far as performance of construction organizations is
concerned. In today's knowledge based society, innovative organizations
have proved to be the performers. This timely finding highlights the need
for a culture that fosters creativity and supports innovation.
Journal: Journal of Business Economics and Management
Pages: 688-704
Issue: 4
Volume: 13
Year: 2011
Month: 7
X-DOI: 10.3846/16111699.2011.620157
File-URL: http://hdl.handle.net/10.3846/16111699.2011.620157
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Handle: RePEc:taf:jbemgt:v:13:y:2011:i:4:p:688-704
Template-Type: ReDIF-Article 1.0
Author-Name: Damjana Jerman
Author-X-Name-First: Damjana
Author-X-Name-Last: Jerman
Author-Name: Bruno Završnik
Author-X-Name-First: Bruno
Author-X-Name-Last: Završnik
Title: The model of marketing communications effectiveness: empirical evidence from Slovenian business-to-business practice
Abstract:
Abstract The paper's purpose is to add to the body of
knowledge on marketing communication effectiveness by developing and
testing the model of marketing communication effectiveness in the
business-to-business markets. Based on past research from the marketing
communications and business-to-business marketing literature, the model is
tested to examine the impact of antecedent variables on marketing
communications effectiveness and organizational performance. Our analysis
indicates that a central concept of marketing communication effectiveness
is influenced by different variables. We also confirmed a positive impact
of marketing communication effectiveness on organizational performance in
case of Slovenian companies.
Journal: Journal of Business Economics and Management
Pages: 705-723
Issue: 4
Volume: 13
Year: 2011
Month: 8
X-DOI: 10.3846/16111699.2011.620163
File-URL: http://hdl.handle.net/10.3846/16111699.2011.620163
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Handle: RePEc:taf:jbemgt:v:13:y:2011:i:4:p:705-723
Template-Type: ReDIF-Article 1.0
Author-Name: Miao-Ling Chen
Author-X-Name-First: Miao-Ling
Author-X-Name-Last: Chen
Author-Name: Chi-Lu Peng
Author-X-Name-First: Chi-Lu
Author-X-Name-Last: Peng
Author-Name: An-Pin Wei
Author-X-Name-First: An-Pin
Author-X-Name-Last: Wei
Title: Advertising, research and development, and capital market risk: higher risk firms versus lower risk firms
Abstract:
Abstract This study examines how a firm's advertising and
R&D affects the firm's β-risk and idiosyncratic risk, which are
metrics of interest to both finance executives and senior management. Due
to the existence of a non-normal and heteroscedasticity dataset, we use
quantile regression to analyze the sample to understand the full behavior
of our non-normally distributed datapoints. The evidence of this study
shows that: (1) Advertising is significantly associated with lower
β-risk for firms with lower, median and higher β-risk. (2) R&D
significantly increases β-risk for firms with median and higher
β-risk firms. (3) Advertising is significantly associated with lower
idiosyncratic risk for firms with higher idiosyncratic risk. (4) R&D is
significantly associated with higher idiosyncratic risk for firms with
median and higher idiosyncratic risk. In summary, our evidence shows that
both advertising and R&D have a stronger effect on firms with higher
β- and idiosyncratic risk than on those with lower β- and
idiosyncratic risk, respectively. Our findings are useful to help both
management executives and investors. Firm managers can allocate limited
resources more efficiently to reduce their firm risk; investors could
exert their influence on firm's senior executives to make decisions that
are beneficial to stock returns.
Journal: Journal of Business Economics and Management
Pages: 724-744
Issue: 4
Volume: 13
Year: 2012
Month: 2
X-DOI: 10.3846/16111699.2012.666998
File-URL: http://hdl.handle.net/10.3846/16111699.2012.666998
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Handle: RePEc:taf:jbemgt:v:13:y:2012:i:4:p:724-744
Template-Type: ReDIF-Article 1.0
Author-Name: Izabella Steinerowska-Streb
Author-X-Name-First: Izabella
Author-X-Name-Last: Steinerowska-Streb
Title: The determinants of enterprise profi tability during reduced economic activity
Abstract:
Abstract The aim of this study was to identify the
characteristic features of small and medium enterprises (SMEs) which
contribute to the decrease of profits of those SMEs during a period of
reduced economic activity. The investigation was based on a sample of 1107
SMEs functioning in the Polish market. The empirical evidence found the
type of manager, market range and legal form as determining factors of SME
profits during a period of reduced economic activity. The received results
led to the development of a model of firm-specific variables that resul in
the decrease of SMEs profits through an economic slowdown.
Journal: Journal of Business Economics and Management
Pages: 745-762
Issue: 4
Volume: 13
Year: 2011
Month: 11
X-DOI: 10.3846/16111699.2011.645864
File-URL: http://hdl.handle.net/10.3846/16111699.2011.645864
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Handle: RePEc:taf:jbemgt:v:13:y:2011:i:4:p:745-762
Template-Type: ReDIF-Article 1.0
Author-Name: Rudolf Hela
Author-X-Name-First: Rudolf
Author-X-Name-Last: Hela
Author-Name: Lenka Bodnárová
Author-X-Name-First: Lenka
Author-X-Name-Last: Bodnárová
Author-Name: Miloslav Novotný
Author-X-Name-First: Miloslav
Author-X-Name-Last: Novotný
Author-Name: Libor Sitek
Author-X-Name-First: Libor
Author-X-Name-Last: Sitek
Author-Name: Jiří Klich
Author-X-Name-First: Jiří
Author-X-Name-Last: Klich
Author-Name: Ivan Wolf
Author-X-Name-First: Ivan
Author-X-Name-Last: Wolf
Author-Name: Josef Foldyna
Author-X-Name-First: Josef
Author-X-Name-Last: Foldyna
Title: Comparison of the actual costs during removal of concrete layer by high-speed water jets
Abstract:
Abstract This paper describes the process of possible
evaluation of costs of using high speed water jet technology for concrete
removal methods. High speed water jet technology is a progressive
technology of removing damaged concrete used in civil engineering since
the 80's of 20-super-th century. It has been changing and developing since
that time. But there is little information in literature devoted to the
economic evaluation of this technology. Detailed economic analysis is
still missing. This paper aims to compare comprehensively in economic
terms the costs of removing concrete using the technology of both
continuous oscillating and pulsating oscillating water jets. The research
was realized in cooperation with research institutions and industrial
companies and was supported by state budget of the Czech Republic and from
the European Union. The scheme of cooperation of the University, research
institutions, industrial companies and government follows the Triple helix
model.
Journal: Journal of Business Economics and Management
Pages: 763-775
Issue: 4
Volume: 13
Year: 2011
Month: 11
X-DOI: 10.3846/16111699.2011.645866
File-URL: http://hdl.handle.net/10.3846/16111699.2011.645866
File-Format: text/html
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Handle: RePEc:taf:jbemgt:v:13:y:2011:i:4:p:763-775
Template-Type: ReDIF-Article 1.0
Author-Name: Siew-Phaik Loke
Author-X-Name-First: Siew-Phaik
Author-X-Name-Last: Loke
Author-Name: Alan G. Downe
Author-X-Name-First: Alan G.
Author-X-Name-Last: Downe
Author-Name: Murali Sambasivan
Author-X-Name-First: Murali
Author-X-Name-Last: Sambasivan
Author-Name: Khalizani Khalid
Author-X-Name-First: Khalizani
Author-X-Name-Last: Khalid
Title: A structural approach to integrating total quality management and knowledge management with supply chain learning
Abstract:
Abstract The aim of this study is to integrate total
quality management (TQM) and knowledge management (KM) into a unified
framework to study supply chain learning among partnering firms. The
impacts of TQM practices (e.g. leadership, strategic planning, customer
focus, information analysis, people management and process management) and
KM practices including KM process, leadership in KM, KM culture, KM
technology and KM measurement on supply chain learning were examined. In
this study, mail questionnaire have been sent to the managers consists of
the Malaysian manufacturing and service firms. A total of 202 firms
participated in this study. While greater level of TQM practices tends to
enhance KM practices, we found that both TQM and KM are significantly
positively related to supply chain learning. The findings of this study
empirically tested and confirmed the proposed integrated model. It is
hoped that findings from this paper can provide greater understanding in
the areas of quality and knowledge management, and illustrate how these
practices can enrich the supply chain learning among partnering firms.
Journal: Journal of Business Economics and Management
Pages: 776-800
Issue: 4
Volume: 13
Year: 2011
Month: 8
X-DOI: 10.3846/16111699.2011.620170
File-URL: http://hdl.handle.net/10.3846/16111699.2011.620170
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Handle: RePEc:taf:jbemgt:v:13:y:2011:i:4:p:776-800
Template-Type: ReDIF-Article 1.0
Author-Name: Yun-Huei Lee
Author-X-Name-First: Yun-Huei
Author-X-Name-Last: Lee
Author-Name: Yun-Huan Lee
Author-X-Name-First: Yun-Huan
Author-X-Name-Last: Lee
Title: Integrated assessment of competitive-strategy selection with an analytical network process
Abstract:
Abstract The present study explores efforts to identify
the most appropriate competitive strategy relative to multinational
biotech pharmaceutical enterprises’ strategy selection. The
research uses the analytic network process (ANP) technique combining both
qualitative and quantitative information to construct a hierarchical model
involving interactions among various criteria for competitive-strategy
selection. The most important finding shows that the most suitable
competitive strategy for multinational enterprises (MNEs) is
differentiation strategy. The weighted calculations reveal important
criteria: an external environment analysis reveals that the three most
important criteria affecting FDI competitive strategy are population size,
per capita income, and healthcare and medical insurance systems; a core
competency analysis reveals that the three most important criteria
affecting competitive-strategy selection of FDI to China are capability in
collaborating with local partners, possession of high-quality research
personnel with R&D capability, and possession of a strong brand.
Journal: Journal of Business Economics and Management
Pages: 801-831
Issue: 5
Volume: 13
Year: 2011
Month: 8
X-DOI: 10.3846/16111699.2011.620171
File-URL: http://hdl.handle.net/10.3846/16111699.2011.620171
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Handle: RePEc:taf:jbemgt:v:13:y:2011:i:5:p:801-831
Template-Type: ReDIF-Article 1.0
Author-Name: Aleksander Aristovnik
Author-X-Name-First: Aleksander
Author-X-Name-Last: Aristovnik
Title: The relative efficiency of education and R&D expenditures in the new EU member states
Abstract:
Abstract The paper attempts to measure relative efficiency
in utilizing public education and R&D expenditures in the new EU member
states in comparison to the selected EU (plus Croatia) and OECD countries.
As resources allocated to education and R&D sector are significantly
limited, a special emphasis should be given to their efficient use
regarding the institutional and legal constraints. By applying
non-parametric methodology, i.e. Data Envelopment Analysis (DEA), a
relative efficiency is defined as the deviation from the efficiency
frontier which represents the maximum output/outcome attainable from each
input level. An analysis of (output-oriented) efficiency measures shows
that among the new EU member states Hungary, Estonia and Slovenia seem to
be good benchmark countries in the field of primary, secondary and
tertiary education, respectively. On the other hand, Cyprus and again
Hungary dominate in the field of R&D sector, even if for different
reasons. The empirical results also suggest that, in general, new EU
member states show relatively high efficiency in tertiary education, while
lag well behind in the R&D efficiency measures.
Journal: Journal of Business Economics and Management
Pages: 832-848
Issue: 5
Volume: 13
Year: 2011
Month: 8
X-DOI: 10.3846/16111699.2011.620167
File-URL: http://hdl.handle.net/10.3846/16111699.2011.620167
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Handle: RePEc:taf:jbemgt:v:13:y:2011:i:5:p:832-848
Template-Type: ReDIF-Article 1.0
Author-Name: Oscar Afonso
Author-X-Name-First: Oscar
Author-X-Name-Last: Afonso
Author-Name: Sara Monteiro
Author-X-Name-First: Sara
Author-X-Name-Last: Monteiro
Author-Name: Maria Thompson
Author-X-Name-First: Maria
Author-X-Name-Last: Thompson
Title: A growth model for the quadruple helix
Abstract:
Abstract We develop a R&D-based growth model with
productive public expenditure in order to frame the Quadruple Helix (QH)
innovation concept, based on four helices: Academia &
Technological Infrastructures, Firms,
Government and Civil Society. Our
motivation stems from acknowledgment that the relationship between these
four helices and their joint impact on growth is in need of a theoretical
framework. We aim to emphasise the importance to economic growth of
innovation systems structured on these four helices. The introduced model
confirms theoretically the notion that increases in: (i) complementarities
between distinct productive units, or (ii) in productive government
expenditure, lead to higher growth.
Journal: Journal of Business Economics and Management
Pages: 849-865
Issue: 5
Volume: 13
Year: 2011
Month: 9
X-DOI: 10.3846/16111699.2011.626438
File-URL: http://hdl.handle.net/10.3846/16111699.2011.626438
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Handle: RePEc:taf:jbemgt:v:13:y:2011:i:5:p:849-865
Template-Type: ReDIF-Article 1.0
Author-Name: Paulo Maçãs Nunes
Author-X-Name-First: Paulo Maçãs
Author-X-Name-Last: Nunes
Author-Name: Sílvia Mendes
Author-X-Name-First: Sílvia
Author-X-Name-Last: Mendes
Author-Name: Zélia Serrasqueiro
Author-X-Name-First: Zélia
Author-X-Name-Last: Serrasqueiro
Title: SMEs’ investment determinants: empirical evidence using quantile approach
Abstract:
Abstract This paper makes an important contribution to the
literature on SMEs, namely investigating whether the relationships between
determinants and investment are dependent on the level of investment.
Based on a sample of Portuguese SMEs, using two-step estimation method,
firstly using probit regression and secondly using quantile regressions,
we find significant non-linearities in relationships formed between
determinants and investment over the distribution of investment. In
particular, we find that: 1) sales, age and growth opportunities are
restrictive determinants of investment for low levels of investment, but
positive determinants of investment for high levels of investment; 2) debt
and the interest rate are restrictive determinants of investment but only
for low and intermediate levels of investment; 3) cash flow is a positive
determinant of investment, but is more important for investment regarding
low levels of investment; 4) GNP is a positive determinant of investment,
but only for high levels of investment; and 5) investment in the previous
period is a positive determinant of investment in the present period, but
only for intermediate and high levels of investment. The relevance of the
various theories explaining firm investment depends on SMEs’ level
of investment.
Journal: Journal of Business Economics and Management
Pages: 866-894
Issue: 5
Volume: 13
Year: 2011
Month: 8
X-DOI: 10.3846/16111699.2011.620172
File-URL: http://hdl.handle.net/10.3846/16111699.2011.620172
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Handle: RePEc:taf:jbemgt:v:13:y:2011:i:5:p:866-894
Template-Type: ReDIF-Article 1.0
Author-Name: Her-Jiun Sheu
Author-X-Name-First: Her-Jiun
Author-X-Name-Last: Sheu
Author-Name: Chien-Ling Cheng
Author-X-Name-First: Chien-Ling
Author-X-Name-Last: Cheng
Title: Systemic risk in Taiwan stock market
Abstract:
Abstract Recent financial crises resulted from systemic
risk caused by idiosyncratic distress. In this research, taking Taiwan
stock market as an example and collecting data from 2000 to 2010 which
contained the 2001 dot-com bubble and the 2007--2009 financial crisis, we
adopt the CoVaR model to empirically explore the impact of sector-specific
idiosyncratic risk on the systemic risk of the system and attempt to
investigate the links between financial crises, systemic risk and the
idiosyncratic risk of a sector-specific anomaly. The result showed
sector-specific marginal CoVaR, i.e., ΔCoVaR, perfectly explained
Taiwan stock market disturbance during the 2001 dot-com bubble and
2007--2008 financial crisis. Thus, by identifying the larger ΔCoVaR
sectors, i.e. the systemic importance sectors, and by exploring the risk
indicators, independent variables, of these systemic importance sectors,
investors could practically employ the sector-specific ΔCoVaR
measure to deepen the systemic risk scrutiny from a macro into a micro
prudential perspective.
Journal: Journal of Business Economics and Management
Pages: 895-914
Issue: 5
Volume: 13
Year: 2011
Month: 8
X-DOI: 10.3846/16111699.2011.620168
File-URL: http://hdl.handle.net/10.3846/16111699.2011.620168
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Handle: RePEc:taf:jbemgt:v:13:y:2011:i:5:p:895-914
Template-Type: ReDIF-Article 1.0
Author-Name: Saulius Masteika
Author-X-Name-First: Saulius
Author-X-Name-Last: Masteika
Author-Name: Aleksandras Vytautas Rutkauskas
Author-X-Name-First: Aleksandras Vytautas
Author-X-Name-Last: Rutkauskas
Title: Research on futures trend trading strategy based on short term chart pattern
Abstract:
Abstract The main task of this paper is to examine a short
term trend trading strategy in futures market based on chart pattern
recognition, time series and computational analysis. Specifications of
historical data for technical analysis and equations for futures
profitability calculations together with position size measurement are
also discussed in the paper. A contribution of this paper lies in a novel
chart pattern related to fractal formation and chaos theory and its
application to short term up-trend trading. Trading strategy was tested
with historical data of the most active futures contracts. The results
have given significantly better and stable returns compared to the change
of market benchmark (CRB index). The results of experimental research
related to the size of trading portfolio and trade execution slippage are
also discussed in the paper. The proposed strategy can be attractive for
futures market participants and be applied as a decision support tool in
technical analysis.
Journal: Journal of Business Economics and Management
Pages: 915-930
Issue: 5
Volume: 13
Year: 2012
Month: 6
X-DOI: 10.3846/16111699.2012.705252
File-URL: http://hdl.handle.net/10.3846/16111699.2012.705252
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Handle: RePEc:taf:jbemgt:v:13:y:2012:i:5:p:915-930
Template-Type: ReDIF-Article 1.0
Author-Name: Carlos González-Pedraz
Author-X-Name-First: Carlos
Author-X-Name-Last: González-Pedraz
Author-Name: Sergio Mayordomo
Author-X-Name-First: Sergio
Author-X-Name-Last: Mayordomo
Title: Trademark activity and the market performance of U.S. commercial banks
Abstract:
Abstract This empirical paper analyzes the effect of
trademark activity on the market value and performance of US commercial
banks from two perspectives. First, a longterm perspective considers the
effect of such activity on banks’ Tobin's q.
Second, with a short-term perspective, the authors analyze the effect of
trademark activity on banks’ abnormal returns. An older portfolio
of trademarks diminishes the ratio of market value to firm assets, but
this ratio can be improved in the long term by abandoning old trade-marks.
Portfolios of trademarks with wide diversification do not help increase
Tobin's q. Furthermore, according to an event study, the
creation of a trademark has a positive effect on cumulative abnormal
returns compared with no event, whereas a cancellation event has a
negative impact.
Journal: Journal of Business Economics and Management
Pages: 931-950
Issue: 5
Volume: 13
Year: 2011
Month: 11
X-DOI: 10.3846/16111699.2011.643447
File-URL: http://hdl.handle.net/10.3846/16111699.2011.643447
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Handle: RePEc:taf:jbemgt:v:13:y:2011:i:5:p:931-950
Template-Type: ReDIF-Article 1.0
Author-Name: Abdorrahman Haeri
Author-X-Name-First: Abdorrahman
Author-X-Name-Last: Haeri
Author-Name: Reza Tavakkoli-Moghaddam
Author-X-Name-First: Reza
Author-X-Name-Last: Tavakkoli-Moghaddam
Title: Developing a hybrid data mining approach based on multi-objective particle swarm optimization for solving a traveling salesman problem
Abstract:
Abstract A traveling salesman problem (TSP) is an NP-hard
optimization problem. So it is necessary to use intelligent and heuristic
methods to solve such a hard problem in a less computational time. This
paper proposes a novel hybrid approach, which is a data mining (DM) based
on multi-objective particle swarm optimization (MOPSO), called intelligent
MOPSO (IMOPSO). The first step of the proposed IMOPSO is to find efficient
solutions by applying the MOPSO approach. Then, the GRI (Generalized Rule
Induction) algorithm, which is a powerful association rule mining, is used
for extracting rules from efficient solutions of the MOPSO approach.
Afterwards, the extracted rules are applied to improve solutions of the
MOPSO for large-sized problems. Our proposed approach (IMOPSP) conforms to
a standard data mining framework is called CRISP-DM and is performed on
five standard problems with bi-objectives. The associated results of this
approach are compared with the results obtained by the MOPSO approach. The
results show the superiority of the proposed IMOPSO to obtain more and
better solutions in comparison to the MOPSO approach.
Journal: Journal of Business Economics and Management
Pages: 951-967
Issue: 5
Volume: 13
Year: 2011
Month: 11
X-DOI: 10.3846/16111699.2011.643445
File-URL: http://hdl.handle.net/10.3846/16111699.2011.643445
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Handle: RePEc:taf:jbemgt:v:13:y:2011:i:5:p:951-967
Template-Type: ReDIF-Article 1.0
Author-Name: Siti Nurazira Mohd Daud
Author-X-Name-First: Siti Nurazira
Author-X-Name-Last: Mohd Daud
Author-Name: Jan M. Podivinsky
Author-X-Name-First: Jan M.
Author-X-Name-Last: Podivinsky
Title: Revisiting the role of external debt in economic growth of developing countries
Abstract:
Abstract This paper proposes a study on the contribution
of external debt to the expansion of economic growth for 31 developing
countries. Over a period of 36 years, by using dynamic panel data
econometrics estimation GMM-system, the results reveal that the
accumulation of external debt is associated with a slowdown in the
economies of the developing countries. In addition, this paper finds
evidence that debt service ratio does not crowd out the investment rate in
developing countries. In other words, even though external debt is
negatively associated with economic growth, countries are found to be safe
from being in the debt overhang hypothesis. Furthermore, there is evidence
to support the existence of spatial dependence in the growth model,
suggesting the existence of a positive spillover effect of growth among
the neighbouring countries.
Journal: Journal of Business Economics and Management
Pages: 968-993
Issue: 5
Volume: 13
Year: 2012
Month: 6
X-DOI: 10.3846/16111699.2012.701224
File-URL: http://hdl.handle.net/10.3846/16111699.2012.701224
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Handle: RePEc:taf:jbemgt:v:13:y:2012:i:5:p:968-993
Template-Type: ReDIF-Article 1.0
Author-Name: Abdolreza Yazdani-Chamzini
Author-X-Name-First: Abdolreza
Author-X-Name-Last: Yazdani-Chamzini
Author-Name: Siamak Haji Yakhchali
Author-X-Name-First: Siamak Haji
Author-X-Name-Last: Yakhchali
Author-Name: Diana Volungevičienė
Author-X-Name-First: Diana
Author-X-Name-Last: Volungevičienė
Author-Name: Edmundas Kazimieras Zavadskas
Author-X-Name-First: Edmundas Kazimieras
Author-X-Name-Last: Zavadskas
Title: Forecasting gold price changes by using adaptive network fuzzy inference system
Abstract:
Abstract Developing a precise and accurate model of gold
price is critical to assets management because of its unique features. In
this paper, adaptive neuro-fuzzy inference system (ANFIS) and artificial
neural network (ANN) model have been used for modeling the gold price, and
compared with the traditional statistical model of ARIMA (autoregressive
integrated moving average). The three performance measures, the
coefficient of determination (R -super-2), root mean
squared error (RMSE), mean absolute error (MAE), are utilized to evaluate
the performances of different models developed. The results show that the
ANFIS model outperforms other models (i.e. ANN and ARIMA model), in terms
of different performance criteria during the training and validation
phases. Sensitivity analysis showed that the gold price changes are highly
dependent upon the values of silver price and oil price.
Journal: Journal of Business Economics and Management
Pages: 994-1010
Issue: 5
Volume: 13
Year: 2012
Month: 4
X-DOI: 10.3846/16111699.2012.683808
File-URL: http://hdl.handle.net/10.3846/16111699.2012.683808
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Handle: RePEc:taf:jbemgt:v:13:y:2012:i:5:p:994-1010
Template-Type: ReDIF-Article 1.0
Author-Name: Ülle Übius
Author-X-Name-First: Ülle
Author-X-Name-Last: Übius
Author-Name: Ruth Alas
Author-X-Name-First: Ruth
Author-X-Name-Last: Alas
Author-Name: Tiit Elenurm
Author-X-Name-First: Tiit
Author-X-Name-Last: Elenurm
Title: Impact of innovation climate on individual and organisational level factors in Asia and Europe
Abstract:
Abstract Organisation climate plays an important role for
the innovation of an organisation. The purpose of this paper is to
investigate connections between the innovation climate and individual and
organisational level factors. Surveys were conducted among Japanese,
Chinese, Estonian, Czech and Slovakian enterprises. Linear regression
analysis was conducted. The results of an empirical study show that the
innovation climate predicts differently some individual and organisational
level factors in studied countries. Two innovation climate facets --
commitment and freedom predict individual level factors-- attitude toward
the firm in all 5 countries. In two studied Asian countries, Japan and
China, commitment predicts meaning of work and job satisfaction whereas in
all three new European Union member states some links between facets of
the innovation climate and individual meaning of work and job satisfaction
were missing. Although individual job satisfaction and meaning of work in
is still shaped by to some extent different mechanisms in studied
countries, implications of the innovative climate for organisation are
more similar, at least in industries that are influenced by rapid
technological development and globalization.
Journal: Journal of Business Economics and Management
Pages: 1-21
Issue: 1
Volume: 14
Year: 2013
Month: 2
X-DOI: 10.3846/16111699.2011.642081
File-URL: http://hdl.handle.net/10.3846/16111699.2011.642081
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Handle: RePEc:taf:jbemgt:v:14:y:2013:i:1:p:1-21
Template-Type: ReDIF-Article 1.0
Author-Name: Halil Nadiri
Author-X-Name-First: Halil
Author-X-Name-Last: Nadiri
Author-Name: G. Nazan Gunay
Author-X-Name-First: G. Nazan
Author-X-Name-Last: Gunay
Title: An empirical study to diagnose the outcomes of customers’ experiences in trendy coffee shops
Abstract:
Abstract The purpose of this study is to analyse the
influence of experiential marketing on young customers’
experiential values and respectively on their satisfaction and word of
mouth and revisit intentions. An instrument was developed to measure how
the strategic experiential module (Schmitt 1999) and service quality
perceptions of customers influence their experiential values. Data were
gathered through questionnaires conducted with 450 respondents to diagnose
young customers’ experiences in Gloria Jean's Coffees shops in
North Cyprus. The structural equation modelling through partial least
square (PLS) method results were acceptable in terms of reliability and
validity. The empirical results revealed that, some of the strategic
experiential modules and service quality perceptions have positive
influences on customer experiences (functional and emotional). Results
also show that customers’ satisfaction can induce positive post
purchase behaviour. The results, managerial implications, and suggestions
for future research are discussed in detail.
Journal: Journal of Business Economics and Management
Pages: 22-53
Issue: 1
Volume: 14
Year: 2013
Month: 2
X-DOI: 10.3846/16111699.2011.631742
File-URL: http://hdl.handle.net/10.3846/16111699.2011.631742
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Handle: RePEc:taf:jbemgt:v:14:y:2013:i:1:p:22-53
Template-Type: ReDIF-Article 1.0
Author-Name: Silvo Dajčman
Author-X-Name-First: Silvo
Author-X-Name-Last: Dajčman
Author-Name: Mejra Festić
Author-X-Name-First: Mejra
Author-X-Name-Last: Festić
Author-Name: Alenka Kavkler
Author-X-Name-First: Alenka
Author-X-Name-Last: Kavkler
Title: Multiscale test of CAPM for three Central and Eastern European stock markets
Abstract:
Abstract This paper examines the systematic risk and
validity of the basic capital asset pricing model of Sharpe (1964),
Lintner (1965) and Mossin (1966) in three Central and Eastern European
stock markets (i.e. Slovenia, Hungary and Czech Republic). The CAPM is
tested on a multiscale basis, building on the Fama and MacBeth (1973)
methodology and applying two modern econometric techniques -- wavelet
analysis and generalized method of moments estimation. Empirical results
indicate that the systematic risk and validity of CAPM implications are
multiscale phenomena. Empirical evidence in support of CAPM implications
in the investigated Central and Eastern European stock markets is found to
be weak. The most commonly violated CAPM hypotheses are the zero Jensen's
alpha condition, positive market premium, and the non-systematic influence
of non-observable variables on the excess returns of stocks in these stock
markets.
Journal: Journal of Business Economics and Management
Pages: 54-76
Issue: 1
Volume: 14
Year: 2013
Month: 2
X-DOI: 10.3846/16111699.2011.633097
File-URL: http://hdl.handle.net/10.3846/16111699.2011.633097
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Handle: RePEc:taf:jbemgt:v:14:y:2013:i:1:p:54-76
Template-Type: ReDIF-Article 1.0
Author-Name: Tiago Neves Sequeira
Author-X-Name-First: Tiago Neves
Author-X-Name-Last: Sequeira
Author-Name: Alexandra Ferreira-Lopes
Author-X-Name-First: Alexandra
Author-X-Name-Last: Ferreira-Lopes
Title: Social capital and investment in R&D: new externalities
Abstract:
Abstract We introduce social capital in an endogenous
growth model with physical capital, human capital, and research and
development (R&D), and we compare the market with the efficient solutions.
As social capital is not tradable in the market and since it favours
research networks, it introduces new externalities in this framework.
These externalities induce the market to invest less in social capital
than would a social planner and decrease the tendency to underinvestment
in R&D. We quantify the distortions in the model. In some conditions, the
new distortions are strong enough to overcome the usual result of
underinvestment in R&D.
Journal: Journal of Business Economics and Management
Pages: 77-97
Issue: 1
Volume: 14
Year: 2013
Month: 2
X-DOI: 10.3846/16111699.2011.638667
File-URL: http://hdl.handle.net/10.3846/16111699.2011.638667
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Handle: RePEc:taf:jbemgt:v:14:y:2013:i:1:p:77-97
Template-Type: ReDIF-Article 1.0
Author-Name: Ebru Yüksel
Author-X-Name-First: Ebru
Author-X-Name-Last: Yüksel
Author-Name: Kıvılcım Metin Özcan
Author-X-Name-First: Kıvılcım Metin
Author-X-Name-Last: Özcan
Title: Interest rate pass-through in Turkey and impact of global financial crisis: asymmetric threshold cointegration analysis
Abstract:
Abstract This paper aims to investigate the interest rate
pass-through of monetary policy rate to banking retail rates in Turkey by
employing the asymmetric threshold autoregressive (TAR) and momentum
threshold autoegressive (MTAR) procedures introduced by Enders and Siklos
(2001). Over the period December 2001 to April 2011, the empirical results
of asymmetric threshold cointegration analysis suggest that there exist
significant and complete pass-through between policy rate and loan rates.
Positive and negative departures from the equilibrium converge to long run
path almost at the same speed. Pace of convergence is about two to three
months for all loan rates. Policy rate has significant short run impact on
loan rates. Our analysis revealed that there is no significant
relationship between policy rate and bank deposit rates due to sluggish
adjustment of deposit rates. Lastly, the speed and behavior of interest
rate pass-through between policy rate and loan rates did not change when
we encounter the effect of 2008 financial crisis. Having a banking sector
dominated financial system in Turkey, the results suggest that banks
adjust loan rates faster than deposit rates. This indicates that Central
Bank can affect the consumption behavior of people, in other words
aggregate demand through loan rates.
Journal: Journal of Business Economics and Management
Pages: 98-113
Issue: 1
Volume: 14
Year: 2013
Month: 2
X-DOI: 10.3846/16111699.2012.671189
File-URL: http://hdl.handle.net/10.3846/16111699.2012.671189
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Handle: RePEc:taf:jbemgt:v:14:y:2013:i:1:p:98-113
Template-Type: ReDIF-Article 1.0
Author-Name: Agata Stachowicz-Stanusch
Author-X-Name-First: Agata
Author-X-Name-Last: Stachowicz-Stanusch
Title: The relationship between National Intellectual Capital and corruption: a cross-national study
Abstract:
Abstract The main objective of this paper is to examine
the relationship between the National Intellectual Capital and the
Corruption Perception Index. The analysis of the relationship between the
NIC and the CPI was conducted for 16 countries: Austria, Belgium, the
Czech Republic, Finland, France, Germany, Greece, Hungary, Ireland, Italy,
Netherlands, Poland, Portugal, Spain, Sweden and the United Kingdom and
was based on NIC data extracted from two sources (Carol Yeh-Yun Lin and
Leif Edvinsson (2010), and the generational approach to the National
Intellectual Capital measurement presented in the Report on the
Intellectual Capital of Poland). Determination of the strength of the
correlation between NIC and CPI represents the first step in evaluating
intellectual capital as the factor which may reduce the scale of
corruption. Evidence of a strong relationship between NIC and CPI confirms
the author's hypothesis that a strong relationship exists, at the same
time proving that further studies must be carried out to determine the
direction of this relationship. Based on the results of such research
(providing that NIC is confirmed to have an effect on CPI), it will then
be possible to recommend new methods of preventing corruption through the
development of NIC.
Journal: Journal of Business Economics and Management
Pages: 114-136
Issue: 1
Volume: 14
Year: 2013
Month: 2
X-DOI: 10.3846/16111699.2012.667831
File-URL: http://hdl.handle.net/10.3846/16111699.2012.667831
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Handle: RePEc:taf:jbemgt:v:14:y:2013:i:1:p:114-136
Template-Type: ReDIF-Article 1.0
Author-Name: Chih-Hai Yang
Author-X-Name-First: Chih-Hai
Author-X-Name-Last: Yang
Author-Name: Chia-Hui Huang
Author-X-Name-First: Chia-Hui
Author-X-Name-Last: Huang
Title: Is Taiwan's R&D productivity in decline? A microeconometric analysis
Abstract:
Abstract Innovation is widely recognized as the main
stimulus of economic growth. Considering that Taiwan has devoted
increasingly more efforts to R&D since the late 1980s, a crucial question
is posed: did the R&D productivity of firms begin to decline in Taiwan
during the post-Asian Financial Crisis period when Taiwan's economic
growth began to decelerate? This study investigates changes in R&D
productivity for Taiwan's manufacturing firms from 1990 to 2003. By
employing various approaches to obtain robust results, findings from
firm-level microeconometric analysis suggests that overall R&D
productivity in Taiwan appears to have been ascendant, particularly during
the post-crisis period. This result is also evidenced by segmenting the
sample into industry groups, whereby electronics firms have a
significantly high R&D productivity growth relative to firms outside the
electronics industry. Therefore, the slowdown of Taiwan's economic growth
in the past decade is attributed to other influences rather than a
slowdown in R&D productivity.
Journal: Journal of Business Economics and Management
Pages: 137-155
Issue: 1
Volume: 14
Year: 2013
Month: 2
X-DOI: 10.3846/16111699.2012.711356
File-URL: http://hdl.handle.net/10.3846/16111699.2012.711356
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Handle: RePEc:taf:jbemgt:v:14:y:2013:i:1:p:137-155
Template-Type: ReDIF-Article 1.0
Author-Name: Hung-bin Ding
Author-X-Name-First: Hung-bin
Author-X-Name-Last: Ding
Author-Name: Kuntara Pukthuanthong
Author-X-Name-First: Kuntara
Author-X-Name-Last: Pukthuanthong
Title: Legitimacy signals and family IPO performances
Abstract:
Abstract The objective of this research is to examine the
relationship between signals including governance and management practices
and the performance of family firms IPOs. Using IPO data of 129 family
firms and 129 comparable non-family firms from the Taiwan Stock Exchange,
our findings highlighted the role of non-family insiders, or non-family
affiliated directors in the IPOs of family firms. Our comparison between
family and non-family IPOs shows hiring prestigious underwriters
significantly improves the performance of family firm IPOs. Finally, we
found the industries of IPO firms moderate the relationship between
corporate governance characteristics and IPO performances, as non-family
firms in technology industries are perceived to be more legitimate than
their family counterparts. This paper makes three contributions to
existing research. Firstly, we contribute to the legitimacy theory by
suggesting an interaction effect between internal (organizational) and
external (environmental) factors. Secondly, our analysis highlighted the
roles of affiliated directors and industry in the performances of public
family firms. Thirdly, this study contributes to the family business
research by underscoring the differences between family and non-family
firms in the IPO context.
Journal: Journal of Business Economics and Management
Pages: 156-181
Issue: 1
Volume: 14
Year: 2013
Month: 2
X-DOI: 10.3846/16111699.2012.711359
File-URL: http://hdl.handle.net/10.3846/16111699.2012.711359
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Handle: RePEc:taf:jbemgt:v:14:y:2013:i:1:p:156-181
Template-Type: ReDIF-Article 1.0
Author-Name: Noemí Martínez-Caraballo
Author-X-Name-First: Noemí
Author-X-Name-Last: Martínez-Caraballo
Author-Name: Manuel Salvador
Author-X-Name-First: Manuel
Author-X-Name-Last: Salvador
Author-Name: Carmen Berné
Author-X-Name-First: Carmen
Author-X-Name-Last: Berné
Author-Name: Pilar Gargallo
Author-X-Name-First: Pilar
Author-X-Name-Last: Gargallo
Title: Towards a dynamic analysis of multiple-store shopping: evidence from Spanish panel data
Abstract:
Abstract This paper aims to determine why consumer
purchasing of fast moving consumer goods varies over time in Spain. More
specifically, our objective is to explain multiple-store shopping in the
households belonging to the Spanish Nielsen Homescan consumer panel that
provides information about household shopping decisions between April 2003
and April 2004. In order to achieve this purpose, a Bayesian Dynamic Tobit
model is used. The results allow us to confirm the influence of several
demographical and geographical variables on household multiple-store
shopping during the sample period.
Journal: Journal of Business Economics and Management
Pages: 182-199
Issue: 1
Volume: 14
Year: 2013
Month: 2
X-DOI: 10.3846/16111699.2012.707151
File-URL: http://hdl.handle.net/10.3846/16111699.2012.707151
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Handle: RePEc:taf:jbemgt:v:14:y:2013:i:1:p:182-199
Template-Type: ReDIF-Article 1.0
Author-Name: Romualdas Ginevičius
Author-X-Name-First: Romualdas
Author-X-Name-Last: Ginevičius
Author-Name: Valentinas Podvezko
Author-X-Name-First: Valentinas
Author-X-Name-Last: Podvezko
Author-Name: Adomas Ginevičius
Author-X-Name-First: Adomas
Author-X-Name-Last: Ginevičius
Title: Quantitative evaluation of enterprise marketing activities
Abstract:
Abstract The growing competition on the international
markets means that the importance of enterprise marketing activities is
increasing. However, the attention paid to theoretical and practical
marketing problems by enterprises is insufficient. This particularly
refers to the analysis of marketing strategy effectiveness. It is not
clear how marketing affects enterprise performance. To perform this
analysis, the quantitative evaluation of enterprise marketing activities
is required. Enterprise marketing is a complex multi-faceted phenomenon.
Its various aspects are described by multidimensional and often oppositely
directed criteria. Therefore, in this case, multicriteria evaluation
methods can be successfully used for analysis. The state of the enterprise
marketing system is described by sets of criteria. Therefore, the problem
of adequate evaluation of their weights arises. Sometimes, it is possible
to reduce the number of evaluation criteria by developing their
hierarchical system. However, the question arises how the transformation
of a single-level system of criteria into the respective multi-level
system affects the calculation results.
Journal: Journal of Business Economics and Management
Pages: 200-212
Issue: 1
Volume: 14
Year: 2013
Month: 2
X-DOI: 10.3846/16111699.2012.731143
File-URL: http://hdl.handle.net/10.3846/16111699.2012.731143
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Handle: RePEc:taf:jbemgt:v:14:y:2013:i:1:p:200-212
Template-Type: ReDIF-Article 1.0
Author-Name: Mohammad Hasan Aghdaie
Author-X-Name-First: Mohammad Hasan
Author-X-Name-Last: Aghdaie
Author-Name: Sarfaraz Hashemkhani Zolfani
Author-X-Name-First: Sarfaraz Hashemkhani
Author-X-Name-Last: Zolfani
Author-Name: Edmundas Kazimieras Zavadskas
Author-X-Name-First: Edmundas Kazimieras
Author-X-Name-Last: Zavadskas
Title: Market segment evaluation and selection based on application of fuzzy AHP and COPRAS-G methods
Abstract:
Abstract Market segment evaluation and selection is one of
the critical marketing problems of all companies. This paper presents a
novel approach which integrates fuzzy analytic hierarchy process (FAHP)
and COPRAS-G method for market segment evaluation and
selection. Fuzzy AHP is used to calculate the weight of each criterion,
and COPRAS-G method is proposed to prioritize market
segments from the best to the worst ones. The application of fuzzy set
theory allows incorporating the vague and imprecise linguistic terms into
the decision process. This study can be used as a pattern for market
segment selection and future researches. A case study on a chair
manufacturing company is put forward to illustrate the performance of the
proposed methodology.
Journal: Journal of Business Economics and Management
Pages: 213-233
Issue: 1
Volume: 14
Year: 2013
Month: 2
X-DOI: 10.3846/16111699.2012.721392
File-URL: http://hdl.handle.net/10.3846/16111699.2012.721392
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Handle: RePEc:taf:jbemgt:v:14:y:2013:i:1:p:213-233
Template-Type: ReDIF-Article 1.0
Author-Name: Annelies Roggeman
Author-X-Name-First: Annelies
Author-X-Name-Last: Roggeman
Author-Name: Isabelle Verleyen
Author-X-Name-First: Isabelle
Author-X-Name-Last: Verleyen
Author-Name: Philippe Van Cauwenberge
Author-X-Name-First: Philippe
Author-X-Name-Last: Van Cauwenberge
Author-Name: Carine Coppens
Author-X-Name-First: Carine
Author-X-Name-Last: Coppens
Title: The EU apportionment formula: insights from a business case
Abstract:
AbstractIn this paper we use firm
level data from a listed multinational to investigate how several designs
for the Common Consolidated Corporate Tax Base (CCCTB) formula could
affect the allocation of the consolidated tax base. The design is relevant
in the light of member states’ concern for protecting their tax
revenues, as well as for the multinational companies’ tax
minimizing possibilities. Moreover, it plays an important role in
achieving an efficient and simple tax system. Simulating different
apportionment formulas, the results show that including more factors and
using more equal weights distributes the common tax base more equally,
which could reduce the incentive to shift factors from high to low tax
countries. The results also indicate that simplifying the factor
definitions, leads to rather minor changes in the allocation. Using
unpublished data, this study allows to investigate the consequences of
different formulas in detail, which contributes to the current discussion
on corporate tax harmonization in the EU.
Journal: Journal of Business Economics and Management
Pages: 235-251
Issue: 2
Volume: 14
Year: 2013
Month: 4
X-DOI: 10.3846/16111699.2011.638668
File-URL: http://hdl.handle.net/10.3846/16111699.2011.638668
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Handle: RePEc:taf:jbemgt:v:14:y:2013:i:2:p:235-251
Template-Type: ReDIF-Article 1.0
Author-Name: Mari Avarmaa
Author-X-Name-First: Mari
Author-X-Name-Last: Avarmaa
Author-Name: Aaro Hazak
Author-X-Name-First: Aaro
Author-X-Name-Last: Hazak
Author-Name: Kadri Männasoo
Author-X-Name-First: Kadri
Author-X-Name-Last: Männasoo
Title: Does leverage affect labour productivity? A comparative study of local and multinational companies of the Baltic countries
Abstract:
AbstractThis paper investigates
the impact of leverage on labour productivity of companies operating in
the Baltic countries, with a focus on differences between local and
multinational companies. We employ a fixed effects regression model on
company level data, covering the period from 2001 to 2008. Our results
demonstrate that the impact of leverage on labour productivity is
non-linear and it differs dramatically between local and multinational
companies. In the case of local companies, at low levels of leverage, an
increase in external financing tends to bring along an improvement in
labour productivity, while at higher levels of leverage an increase in
debt financing appears to result in a loss of labour productivity. For
multinational companies, the impact of leverage on labour productivity
tends to be more linear and leverage appears to have a negative impact on
labour productivity. Although debt overhang is believed to be an issue in
the Baltic countries in general, local companies with low leverage might
be able to increase labour productivity by additional borrowing.
Journal: Journal of Business Economics and Management
Pages: 252-275
Issue: 2
Volume: 14
Year: 2013
Month: 4
X-DOI: 10.3846/16111699.2011.651624
File-URL: http://hdl.handle.net/10.3846/16111699.2011.651624
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Handle: RePEc:taf:jbemgt:v:14:y:2013:i:2:p:252-275
Template-Type: ReDIF-Article 1.0
Author-Name: Koi Nyen Wong
Author-X-Name-First: Koi
Author-X-Name-Last: Nyen Wong
Author-Name: Soo Khoon Goh
Author-X-Name-First: Soo
Author-X-Name-Last: Khoon Goh
Title: Outward FDI, merchandise and services trade: evidence from Singapore
Abstract:
AbstractThis paper aims to
explore the causality pattern between outward foreign direct investment
(OFDI) and major external trade components (i.e. exports and imports of
merchandise as well as services) using Singapore as a case study, since it
is one of the largest outward investors in the Asian region and it is
overtly trade-dependent. The findings reveal that there is evidence of an
OFDI-led trade hypothesis, particularly with regard to merchandise exports
and imports, which is an indication OFDI opens important channels for
intra-firm trade activities, home country sourcing and backward
integration. However, there is no evidence of causality relationships
between Singapore's OFDI and services trade because the purpose of such
services is mainly to provide a market presence in the consuming country.
As such, Singaporean multinationals are likely to outsource their services
either from the host country services sector or from their own
services-supporting subsidiaries that have been relocated abroad. The
present study provides implications for policy formulation to strengthen
OFDI-services trade linkages.
Journal: Journal of Business Economics and Management
Pages: 276-291
Issue: 2
Volume: 14
Year: 2013
Month: 4
X-DOI: 10.3846/16111699.2012.703964
File-URL: http://hdl.handle.net/10.3846/16111699.2012.703964
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Handle: RePEc:taf:jbemgt:v:14:y:2013:i:2:p:276-291
Template-Type: ReDIF-Article 1.0
Author-Name: Tai-Ning Yang
Author-X-Name-First: Tai-Ning
Author-X-Name-Last: Yang
Title: The impact of resumption of former top executives on stock prices: an event study approach
Abstract:
AbstractThis study explored the
impact of resumption of former top executives on stock prices based on
market model for the listed corporations in Taiwan stock market. Top
executives nowadays confront great challenges in acquiring new corporate
accounts to meet agreed targets and drive rapid, profitable growth.
Accordingly, corporations commonly decide to reinstate former top
executives since their managerial experience is expected to improve
corporate performance. The aim of this study is to provide practical
guidelines for companies that are considering such decisions and favorable
information that can help investors to adjust their portfolios in response
to such potential decisions.
Journal: Journal of Business Economics and Management
Pages: 292-302
Issue: 2
Volume: 14
Year: 2013
Month: 4
X-DOI: 10.3846/16111699.2011.634922
File-URL: http://hdl.handle.net/10.3846/16111699.2011.634922
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Handle: RePEc:taf:jbemgt:v:14:y:2013:i:2:p:292-302
Template-Type: ReDIF-Article 1.0
Author-Name: Chin-Hong Puah
Author-X-Name-First: Chin-Hong
Author-X-Name-Last: Puah
Author-Name: Shirly Siew-Ling Wong
Author-X-Name-First: Shirly Siew-Ling
Author-X-Name-Last: Wong
Author-Name: Venus Khim-Sen Liew
Author-X-Name-First: Venus Khim-Sen
Author-X-Name-Last: Liew
Title: Testing rational expectations hypothesis in the manufacturing sector in Malaysia
Abstract:
AbstractThe application of
rational expectations hypothesis (REH) in macroeconomic research has
marked a revolution in economic thinking, and the magnitude of its impact
on the world of economics is undeniably significant. However, the extent
to which REH applies in real-world settings is ambiguous even though the
concept of REH is well established in economics literature because
empirical evidence from previous studies is clearly mixed. This study used
survey data on gross revenue and capital expenditures to examine the
validity of REH in Malaysian manufacturing business expectations.
Empirical results indicated that the manufacturers’ expectations
are being irrationally constructed in terms of gross revenue predictions
but comply with REH properties in Muth's sense in the case of capital
expenditures forecasts. Therefore, manufacturing firms in Malaysia are
encouraged to incorporate more relevant information into their gross
revenue predictions to provide more accurate and realistic forecasting.
Journal: Journal of Business Economics and Management
Pages: 303-316
Issue: 2
Volume: 14
Year: 2013
Month: 4
X-DOI: 10.3846/16111699.2011.631743
File-URL: http://hdl.handle.net/10.3846/16111699.2011.631743
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Handle: RePEc:taf:jbemgt:v:14:y:2013:i:2:p:303-316
Template-Type: ReDIF-Article 1.0
Author-Name: Tanja Kosi
Author-X-Name-First: Tanja
Author-X-Name-Last: Kosi
Author-Name: Štefan Bojnec
Author-X-Name-First: Štefan
Author-X-Name-Last: Bojnec
Title: Institutional barriers to business entry in advanced economies
Abstract:
AbstractThe paper empirically
examines the impact of freedom from regulation in different institutional
areas on business entry rate in 10 Organisation for Economic Co-operation
and Development countries over the period 1995--2007. Employing the
feasible generalized least squares econometric approach, it discloses a
positive association between business entry and the overall institutional
freedom. Economic freedom in different institutional areas, however, does
not appear to have the same importance for business entry. Institutional
freedoms that are the most beneficial for business creation are product
market freedom, property rights freedom, and freedom from corruption. This
implies that simple and inexpensive administration procedures, competitive
product markets, and transparent and effective legal/judicial system help
promote business creation. Business entry is also positively associated
with macroeconomic prosperity in terms of employment growth and the
development of information and communication technology industry.
Journal: Journal of Business Economics and Management
Pages: 317-329
Issue: 2
Volume: 14
Year: 2013
Month: 4
X-DOI: 10.3846/16111699.2011.633348
File-URL: http://hdl.handle.net/10.3846/16111699.2011.633348
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Handle: RePEc:taf:jbemgt:v:14:y:2013:i:2:p:317-329
Template-Type: ReDIF-Article 1.0
Author-Name: Manoj Kumar Mohanty
Author-X-Name-First: Manoj Kumar
Author-X-Name-Last: Mohanty
Author-Name: Padmabati Gahan
Author-X-Name-First: Padmabati
Author-X-Name-Last: Gahan
Title: Supplier performance measurement in discrete manufacturing industry-empirical study on Indian manufacturing sector
Abstract:
AbstractSuppliers are the value
creators for the organizations and have emerged as value-adding partners
in industrial relationships since last two decades. These values can be
derived effectively given the buying organizations keep a long-term
strategic relationship with high performing suppliers. To measure the
performance organizations have to decide the performance parameters
depending on the nature of business and their specific needs from the
supply base. The current discrete manufacturing industries of India
judging the performance of the suppliers based on technical capability,
cost, delivery, quality & regulatory adherence for safety and environment.
But from the larger interest of the manufacturing industry more relevant
attributes are needs to be considered, which are explored from our
research are responsiveness of the supplier, effectiveness of the
aftersales service, delivery flexibility, documentation ability, trust &
commitments. All these performance measurement attributes will drive
effectiveness and efficiency of the supply chain.
Journal: Journal of Business Economics and Management
Pages: 330-347
Issue: 2
Volume: 14
Year: 2013
Month: 4
X-DOI: 10.3846/16111699.2011.631745
File-URL: http://hdl.handle.net/10.3846/16111699.2011.631745
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Handle: RePEc:taf:jbemgt:v:14:y:2013:i:2:p:330-347
Template-Type: ReDIF-Article 1.0
Author-Name: Sinnappan Santhidran
Author-X-Name-First: Sinnappan
Author-X-Name-Last: Santhidran
Author-Name: V. G. R. Chandran
Author-X-Name-First: V. G. R.
Author-X-Name-Last: Chandran
Author-Name: Junbo Borromeo
Author-X-Name-First: Junbo
Author-X-Name-Last: Borromeo
Title: Enabling organizational change -- leadership, commitment to change and the mediating role of change readiness
Abstract:
AbstractThere has been little
empirical analysis on the complex relationship between leadership, change
readiness and commitment to change in the context of Asian countries. In
this paper, we propose a research model to analyze the interrelationship
between leadership, change readiness and commitment to change using the
partial least square technique. Results of the study suggest that
leadership positively and significantly affect change readiness but not
commitment to change. Consequently, change readiness is found to
significantly affect commitment to change. In other words, change
readiness is found to mediate the relationship between transformational
leadership and commitment to change. This may suggest that the influence
of leadership is a sequential process affecting change readiness, and in
turn, the commitment to change as opposed to the conventional belief that
it affects both change readiness and commitment to change simultaneously.
The implication of the study is further discussed.
Journal: Journal of Business Economics and Management
Pages: 348-363
Issue: 2
Volume: 14
Year: 2013
Month: 4
X-DOI: 10.3846/16111699.2011.642083
File-URL: http://hdl.handle.net/10.3846/16111699.2011.642083
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Handle: RePEc:taf:jbemgt:v:14:y:2013:i:2:p:348-363
Template-Type: ReDIF-Article 1.0
Author-Name: Debby Van Geyt
Author-X-Name-First: Debby
Author-X-Name-Last: Van Geyt
Author-Name: Philippe Van Cauwenberge
Author-X-Name-First: Philippe
Author-X-Name-Last: Van Cauwenberge
Author-Name: Heidi Vander Bauwhede
Author-X-Name-First: Heidi Vander
Author-X-Name-Last: Bauwhede
Title: The impact of the financial crisis on insider trading profitability in Belgium
Abstract:
AbstractThe 2007 global financial
crisis led to a chaotic financial environment characterized by highly
uncertain and volatile stock markets. This created additional uncertainty
about the fundamental value of shares and potentially increased the
benefit of inside information. In this paper, we use event study
methodology to examine whether Belgian corporate insiders were able to
benefit from these turbulent market conditions. Given the large weight of
financial institutions, the Belgian stock market was especially vulnerable
to the financial crisis and provides an interesting environment to test
this hypothesis. Our results show that, while insiders are generally able
to earn abnormal returns, these returns are significantly higher during
the years of the financial crisis.
Journal: Journal of Business Economics and Management
Pages: 364-385
Issue: 2
Volume: 14
Year: 2013
Month: 4
X-DOI: 10.3846/16111699.2011.652980
File-URL: http://hdl.handle.net/10.3846/16111699.2011.652980
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Handle: RePEc:taf:jbemgt:v:14:y:2013:i:2:p:364-385
Template-Type: ReDIF-Article 1.0
Author-Name: Matthias F. Brauer
Author-X-Name-First: Matthias F.
Author-X-Name-Last: Brauer
Title: The effects of short-term and long-term oriented managerial behavior on medium-term financial performance: longitudinal evidence from Europe
Abstract:
AbstractShort-term orientation
aimed at maximizing quarterly results at the expense of long-term
corporate performance and survival has become severely criticized. In the
face of continuously decreasing chief executive officer (CEO) tenure,
CEOs, however, seem to have few incentives to embrace long-term oriented
behaviour. Instead, the question of foremost importance to self-interested
CEOs is whether short-term orientation already harms financial performance
in the three to four years of their own tenure, and whether CEOs stand a
chance of benefiting from long-term orientation while still in office.
CEOs thus face an intriguing ethical dilemma between optimizing their
financial pay-off within their own tenure and securing the longer-term
well-being of the corporation, its employees, and other major
stakeholders. Consequently, our longitudinal study focuses on the
medium-term performance implications of short-term and
long-term orientation in Europe's largest publicly listed companies.
Results indicate that short-term orientation negatively impacts on medium
term performance while long-term oriented behavior is positively
associated with corporate performance in the medium term. Our findings
advance managerial myopia theory, and provide insights into one of the
most central ethical dilemmas faced by corporate executives today.
Journal: Journal of Business Economics and Management
Pages: 386-402
Issue: 2
Volume: 14
Year: 2013
Month: 4
X-DOI: 10.3846/16111699.2012.703965
File-URL: http://hdl.handle.net/10.3846/16111699.2012.703965
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Handle: RePEc:taf:jbemgt:v:14:y:2013:i:2:p:386-402
Template-Type: ReDIF-Article 1.0
Author-Name: Nijolė Maknickienė
Author-X-Name-First: Nijolė
Author-X-Name-Last: Maknickienė
Author-Name: Algirdas Maknickas
Author-X-Name-First: Algirdas
Author-X-Name-Last: Maknickas
Title: Financial market prediction system with Evolino neural network and Delphi method
Abstract:
AbstractUse of artificial
intelligence systems in forecasting financial markets requires a reliable
and simple model that would ensure profitable growth. The model presented
in the paper combines Evolino recurrent neural networks with orthogonal
data inputs and the Delphi expert evaluation method for its investment
portfolio decision making process. A statistical study demonstrates the
reliability of the model and describes its accuracy. Capabilities of the
model are demonstrated using a trading simulation.
Journal: Journal of Business Economics and Management
Pages: 403-413
Issue: 2
Volume: 14
Year: 2013
Month: 4
X-DOI: 10.3846/16111699.2012.729532
File-URL: http://hdl.handle.net/10.3846/16111699.2012.729532
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Handle: RePEc:taf:jbemgt:v:14:y:2013:i:2:p:403-413
Template-Type: ReDIF-Article 1.0
Author-Name: Dimitrios I. Maditinos
Author-X-Name-First: Dimitrios I.
Author-X-Name-Last: Maditinos
Author-Name: Željko Šević
Author-X-Name-First: Željko
Author-X-Name-Last: Šević
Author-Name: Jelena Stankevičienė
Author-X-Name-First: Jelena
Author-X-Name-Last: Stankevičienė
Author-Name: Nikolaos Karakoltsidis
Author-X-Name-First: Nikolaos
Author-X-Name-Last: Karakoltsidis
Title: Earnings response coefficients in the Greek market
Abstract:
AbstractThe paper explores the
relationship between accounting information and stock returns of the
companies listed on the Athens Stock Exchange (ASE) in the period
1998--2008. Publicly available financial data on the companies included in
the ASE during 1998--2008 have been collected and processed. The data
sample consists of 245 companies and varies from 2,166 to 1,441 firm-year
observations. The research methodology has been based on the extension of
the model introduced by Kothari and Sloan (1992) and investigates whether
the level of earnings divided by price at the beginning of the stock
return period is associated with returns in the context of ‘prices
lead earnings’ using annual and quarterly data. Cross-sectional
regression analysis points to a significant relationship between earnings
and returns on measurement windows of one year and longer. Similar results
have been found in the case of a cumulative model where earnings are
aggregated up to four years; however, relationship in the short
measurement window up to three quarters has resulted in low earnings
response coefficients.
Journal: Journal of Business Economics and Management
Pages: 414-431
Issue: 2
Volume: 14
Year: 2013
Month: 4
X-DOI: 10.3846/16111699.2012.758168
File-URL: http://hdl.handle.net/10.3846/16111699.2012.758168
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Handle: RePEc:taf:jbemgt:v:14:y:2013:i:2:p:414-431
Template-Type: ReDIF-Article 1.0
Author-Name: Fernando A. F. Ferreira
Author-X-Name-First: Fernando A. F.
Author-X-Name-Last: Ferreira
Title: Measuring trade-offs among criteria in a balanced scorecard framework: possible contributions from the multiple criteria decision analysis research field
Abstract:
AbstractClaimed by the Harvard
Business Review as one of the main innovations of recent decades in
management systems, the Balanced Scorecard (BSC) has been widely studied
and applied in different management contexts. However, despite recent
progress and its undeniable merit, the BSC has its own shortcomings. As
reported in the literature, it seems generally agreed that the way
compensations between criteria within a BSC framework are calculated
remains an open issue. Thus, one of the contributions of this study is to
augment the theoretical discussion on the potentialities of the multiple
criteria decision analysis (MCDA) approach to bring simplicity and
transparency to the calculation of compensations (i.e.
trade-offs) among evaluation criteria within a BSC framework. It seems
important to underline that this paper builds on previous work and is not
empirical research. However, it aims to extend the discussion to other
(new) measurement contexts. We believe that the development and promotion
of the integrated use of MCDA tools in BSC applications to measure
trade-offs among evaluation criteria in the BSC framework can be a key
factor in ensuring more successful implementations and uses of the BSC
within firms.
Journal: Journal of Business Economics and Management
Pages: 433-447
Issue: 3
Volume: 14
Year: 2013
Month: 6
X-DOI: 10.3846/16111699.2011.631744
File-URL: http://hdl.handle.net/10.3846/16111699.2011.631744
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Handle: RePEc:taf:jbemgt:v:14:y:2013:i:3:p:433-447
Template-Type: ReDIF-Article 1.0
Author-Name: Li-Chang Hsu
Author-X-Name-First: Li-Chang
Author-X-Name-Last: Hsu
Title: Investment decision making using a combined factor analysis and entropy-based topsis model
Abstract:
AbstractTraditionally, the return
on assets and the return on equity are used as the criteria in the
evaluation of financial performance, while risk considerations are
ignored. Therefore, this study combined financial ratio variables and the
RAROC (risk-adjusted rate of return on capital) as the evaluation criteria
and developed a financial performance evaluation model. The proposed
evaluation model combines factor analysis with entropy weight and the
TOPSIS (technique for order performance by similarity to ideal solution)
to evaluate the financial performance of Taiwan's 50 listed
opto-electronic companies. Finally, Spearman's and Kendall's rank
correlations are used to verify that there is no significant difference
between the 2007 and 2008 rankings of the companies. The empirical results
show the financial performance rankings of the companies before and after
the global financial turmoil. These findings not only help investors
making investment decisions, but also can help managers make decisions to
improve their company's financial performance.
Journal: Journal of Business Economics and Management
Pages: 448-466
Issue: 3
Volume: 14
Year: 2013
Month: 6
X-DOI: 10.3846/16111699.2011.633098
File-URL: http://hdl.handle.net/10.3846/16111699.2011.633098
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Handle: RePEc:taf:jbemgt:v:14:y:2013:i:3:p:448-466
Template-Type: ReDIF-Article 1.0
Author-Name: Asad K. Ghalib
Author-X-Name-First: Asad K.
Author-X-Name-Last: Ghalib
Title: How effective is microfinance in reaching the poorest? Empirical evidence on programme outreach in rural Pakistan
Abstract:
AbstractMicrofinance has emerged
on the global scale as a key strategy to reduce poverty and promote
development. Most literature however, tends to concentrate on
breadth as opposed to depth of programme
outreach. This paper is based on a primary household survey of 1,132
respondents in the Punjab Province of Pakistan to assess which category of
the poor is being served by microfinance institutions: are they the very
poor, middle poor or less poor ones? In order to make comparisons,
borrower (treatment) and non-borrower (control) households are ranked by
poverty scores generated by employing Principal Component Analysis. The
study reveals that the depth of poverty outreach is significantly lower
than what has been claimed by lenders. The paper reflects on policy
implications to enhance depth (as opposed to breadth) of outreach to
address the needs of the ‘poorest of the poor’ in order to
contribute meaningfully and effectively towards combating poverty.
Journal: Journal of Business Economics and Management
Pages: 467-480
Issue: 3
Volume: 14
Year: 2013
Month: 6
X-DOI: 10.3846/16111699.2011.639796
File-URL: http://hdl.handle.net/10.3846/16111699.2011.639796
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Handle: RePEc:taf:jbemgt:v:14:y:2013:i:3:p:467-480
Template-Type: ReDIF-Article 1.0
Author-Name: Iñaki Heras-Saizarbitoria
Author-X-Name-First: Iñaki
Author-X-Name-Last: Heras-Saizarbitoria
Author-Name: Germán Arana
Author-X-Name-First: Germán
Author-X-Name-Last: Arana
Author-Name: Ernesto Cilleruelo
Author-X-Name-First: Ernesto
Author-X-Name-Last: Cilleruelo
Title: Adoption of ISO 9000 management standard in EU's transition economies: the case of the Baltic states
Abstract:
AbstractThis article analyzes the
dissemination of the main global management standards, the ISO 9000,
within the transition economies of the European Union (EU). In the
article, the specific case of the Baltic States is analyzed in depth. The
work refers to the diffusion of the ISO 9000 standard in the Baltic States
in terms of its certification intensity and sectorial distribution.
Likewise, the work refers to the huge increase of certifications achieved
by the countries and the other transition economies in the previous years
of their adhesion to the European Union in years 2004 and 2007. The
conclusions drawn in the article may be of interest both for academic and
professional spheres of activity but, overall, for public-decisors.
Journal: Journal of Business Economics and Management
Pages: 481-499
Issue: 3
Volume: 14
Year: 2013
Month: 6
X-DOI: 10.3846/16111699.2011.634923
File-URL: http://hdl.handle.net/10.3846/16111699.2011.634923
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Handle: RePEc:taf:jbemgt:v:14:y:2013:i:3:p:481-499
Template-Type: ReDIF-Article 1.0
Author-Name: Maria do Céu Alves
Author-X-Name-First: Maria do
Author-X-Name-Last: Céu Alves
Author-Name: Sergio Ivo Amaral Matos
Author-X-Name-First: Sergio Ivo Amaral
Author-X-Name-Last: Matos
Title: ERP adoption by public and private organizations -- a comparative analysis of successful implementations
Abstract:
Abstract The business environment
has changed dramatically in the last years. The organizations are now more
complex in terms of their structure and geographical dispersion. Daily,
great amounts of information are produced and, to surpass these problems,
organizations have invested in Enterprise Resource Planning systems (ERP).
The same trends can be detected within the public sector. The interest
generated by the ERP phenomenon is growing and the particularities of the
public sector make specific studies necessary. Accordingly, the aim of
this paper is to examine the adoption process of ERP systems by public and
private organizations. Which ERP modules are mostly adopted? Which reasons
legitimate ERP adoption? Using a survey research methodology, this study
reveals that the need to increase the demand for real-time information, to
obtain information for decision-making and the integration of applications
appear as main reasons to implement an ERP system. Although the reasons
given are the same for public and private organizations, the results of
this study also show that the modules implemented are slightly different;
the importance or dominance of each module may differ; and the deployment
time is shorter in the public sector. Since comparative studies are
relatively scarce, our work helps to reduce this knowledge gap.
Journal: Journal of Business Economics and Management
Pages: 500-519
Issue: 3
Volume: 14
Year: 2013
Month: 6
X-DOI: 10.3846/16111699.2011.652979
File-URL: http://hdl.handle.net/10.3846/16111699.2011.652979
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Handle: RePEc:taf:jbemgt:v:14:y:2013:i:3:p:500-519
Template-Type: ReDIF-Article 1.0
Author-Name: Omo Aregbeyen
Author-X-Name-First: Omo
Author-X-Name-Last: Aregbeyen
Title: The effects of working capital management on the profitability of Nigerian manufacturing firms
Abstract:
Abstract The efficiency of working
capital management (WCM) has implications for firms’profitability.
This paper empirically investigates the effects of WCM on the
profitability of a sample of 48 large manufacturing firms quoted on the
Nigerian Stock Exchange (NSE) for the period 1993 to 2005. It is aimed at
filling the gaps in a previous study and contribute to expanding and
enriching the literature particularly on Nigeria and at large. The
analysis examined the responses of the firms’ profitability to WCM
and a number of augmenting factors. Profitability was alternatively
measured by gross operating profit (GOI), net operating income (NOI) and
return on assets (ROA). Likewise, WCM was measured by the average
collection period (ACP), average pay period (APP), inventory turnover days
(ITID) and comprehensively by the cash conversion cycle (CCC). The results
indicate that the firms’ have been inefficient with WCM and caused
significant reductions in profitability. The paper concludes that
improving the efficiency of WCM is essential and recommends that
manufacturing firms in Nigeria should shorten the ACP, APP, ITID and
reduce their CCCs.
Journal: Journal of Business Economics and Management
Pages: 520-534
Issue: 3
Volume: 14
Year: 2013
Month: 6
X-DOI: 10.3846/16111699.2011.651626
File-URL: http://hdl.handle.net/10.3846/16111699.2011.651626
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Handle: RePEc:taf:jbemgt:v:14:y:2013:i:3:p:520-534
Template-Type: ReDIF-Article 1.0
Author-Name: Qingyan Shang
Author-X-Name-First: Qingyan
Author-X-Name-Last: Shang
Author-Name: Jessie P. H. Poon
Author-X-Name-First: Jessie P. H.
Author-X-Name-Last: Poon
Title: International spillovers, knowledge acquisition and transfer among Japanese fi rms in the United States
Abstract:
Abstract In this paper, we
investigate (i) the relationship between international spillovers and
knowledge acquisition, and, (ii) intra-firm subsidiary-to-parent transfer
of technology among Japanese firms in the United States. Using a survey of
185 firms, probit regressions reveal that R&D personnel and market power
significantly influence the acquisition of knowledge associated with basic
and applied science and product development. Tacit knowledge that resides
in customers, and skilled personnel are effective sources for exploitation
of international knowledge spillovers. Participation in seminars and
conferences also enhances the acquisition of applied science. Firms that
rely on codified sources are unlikely to acquire any knowledge. This
research also confirms other authors’ findings that subsidiary
autonomy facilitates knowledge acquisition. In addition, knowledge in
product development is most likely to lead to vertical intra-firm
transfers while applied scientific research only results in the transfer
of R&D capability. Scientific team visits from the US to Japan support
subsidiaries’ transfer of R&D capability but teams sent from Japan
to the US adversely affect transfers. Overall, our results suggest
international spillovers are predominantly associated with the acquisition
of tacit knowledge, and intra-firm transfers are most effective in the
context of knowledge acquired in applied research and product development.
Journal: Journal of Business Economics and Management
Pages: 535-557
Issue: 3
Volume: 14
Year: 2013
Month: 6
X-DOI: 10.3846/16111699.2012.658853
File-URL: http://hdl.handle.net/10.3846/16111699.2012.658853
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Handle: RePEc:taf:jbemgt:v:14:y:2013:i:3:p:535-557
Template-Type: ReDIF-Article 1.0
Author-Name: Qazi Muhammad Adnan Hye
Author-X-Name-First: Qazi Muhammad
Author-X-Name-Last: Adnan Hye
Author-Name: Faridul Islam
Author-X-Name-First: Faridul
Author-X-Name-Last: Islam
Title: Does financial development hamper economic growth: empirical evidence from Bangladesh
Abstract:
AbstractThe objective of this
study is twofold. (a) Construct the first ever financial development index
(FDI) for Bangladesh using the principal component method (PCM). (b) Use
the FDI to explore the existence of a long run relationship between FDI
and economic growth. The Augmented Dickey Fuller and the Ng-Perron unit
root tests have been applied to examine the stationarity properties of the
series. To explore a long run relation, the Autoregressive Distributed Lag
(ARDL) approach to cointegration; and to assess the stability of the
parameters, the rolling window regression approach have been used. The
results show that the impact of real interest rate (RIR) and FDI on
economic growth is negative. Estimates from rolling window method show
that FDI and RIR are negatively related to economic growth for the years
1987--1988, 1992--1999, 2002--2006, 2008 and 2009; and 1986--1998, 2006
and 2007, respectively. The results may help policymakers formulate
effective financial sector policies as a tool to promote economic growth
in Bangladesh.
Journal: Journal of Business Economics and Management
Pages: 558-582
Issue: 3
Volume: 14
Year: 2013
Month: 6
X-DOI: 10.3846/16111699.2012.654813
File-URL: http://hdl.handle.net/10.3846/16111699.2012.654813
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Handle: RePEc:taf:jbemgt:v:14:y:2013:i:3:p:558-582
Template-Type: ReDIF-Article 1.0
Author-Name: Luísa Carvalho
Author-X-Name-First: Luísa
Author-X-Name-Last: Carvalho
Author-Name: Teresa Costa
Author-X-Name-First: Teresa
Author-X-Name-Last: Costa
Author-Name: Jorge Caiado
Author-X-Name-First: Jorge
Author-X-Name-Last: Caiado
Title: Determinants of innovation in a small open economy: a multidimensional perspective
Abstract:
AbstractThis paper uses logistic
regression analysis to examine how intramural and extramural R&D,
acquisition of machinery, equipment and software, acquisition of external
knowledge, training, market introduction and other procedures and
technical preparations determine the innovation behaviour of manufacturing
and service firms. We adopt a multidimensional view of innovation by
considering product, process, organizational and marketing innovations as
dependent variables separately. The study reports on the Community
Innovation Survey (CIS4) of a small open-economy country. The empirical
results indicate that intramural R&D has a positive impact on innovation.
In contrast, the influence of extramural R&D on innovation is unclear. All
innovation activities contribute towards organizational innovation. The
study also suggests that there are no significant differences between
services and manufacturing firms concerning the propensity to innovation.
Journal: Journal of Business Economics and Management
Pages: 583-600
Issue: 3
Volume: 14
Year: 2013
Month: 6
X-DOI: 10.3846/16111699.2012.701225
File-URL: http://hdl.handle.net/10.3846/16111699.2012.701225
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Handle: RePEc:taf:jbemgt:v:14:y:2013:i:3:p:583-600
Template-Type: ReDIF-Article 1.0
Author-Name: Imran Anwar Mir
Author-X-Name-First: Imran
Author-X-Name-Last: Anwar Mir
Title: Examination of attitudinal and intentional drivers of non-deceptive counterfeiting in a South Asian context
Abstract:
AbstractCounterfeiting trade is
emerging as a parallel industry across the nations. Governments and legal
bodies across the nations introduced counter-strategies to setback the
rapid growth of this parallel industry. Yet these strategies failed to
gain the desired results. Previous studies found political corruption and
improper implementation of anti-counterfeiting strategies and laws main
reasons for this failure. This study intends to examine the influence of
word of mouth, ethical and legal sensitivities on consumers’
attitudes toward the non-deceptive counterfeit mobile handsets in a South
Asian context. In addition, this study aims to assess the direct impact of
affordability, legal sensitivity, and easy availability on
consumers’ intentions to purchase the non-deceptive counterfeit
mobile handsets. The results show that positive word of mouth about
non-deceptive counterfeits and less sensitivity to ethics positively
influence consumers’ attitudes toward the non-deceptive counterfeit
mobile handsets. Legal sensitivity does not affect consumers’
attitudes toward the non-deceptive counterfeits. Affordability of the
non-deceptive counterfeit mobile handsets has a profound impact on
consumers’ purchase intentions. Findings of this study are useful
for legal authorities and multinational companies in developing result
oriented anti-counterfeiting strategies in South Asian markets.
Journal: Journal of Business Economics and Management
Pages: 601-615
Issue: 3
Volume: 14
Year: 2013
Month: 6
X-DOI: 10.3846/16111699.2012.707150
File-URL: http://hdl.handle.net/10.3846/16111699.2012.707150
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Handle: RePEc:taf:jbemgt:v:14:y:2013:i:3:p:601-615
Template-Type: ReDIF-Article 1.0
Author-Name: Peng Jia
Author-X-Name-First: Peng
Author-X-Name-Last: Jia
Author-Name: Hannan Amoozad Mahdiraji
Author-X-Name-First: Hannan Amoozad
Author-X-Name-Last: Mahdiraji
Author-Name: Kannan Govindan
Author-X-Name-First: Kannan
Author-X-Name-Last: Govindan
Author-Name: Ieva Meidutė
Author-X-Name-First: Ieva
Author-X-Name-Last: Meidutė
Title: Leadership selection in an unlimited three-echelon supply chain
Abstract:
AbstractSupply chain (SC)
management aims to increase the overall profit through improvement of
various activities and components. Many contradictions between parts and
different levels of a SC have been identified in order to achieve overall
objectives. Such shortfalls may result in decreased strength and
competitiveness of the SC. This paper considers the main conflicts related
to inventory, pricing and marketing costs in an unlimited three-echelon
supply chain. Aimed at avoiding a profit decrease, the research focuses on
finding an equilibrium between inventory, pricing and marketing cost of an
unlimited three-echelon SC. On each level, the best leadership option with
the greatest payoff is sought for between K retailer, M manufacturer and S
supplier. According to Stackelberg non-cooperative game theory, each SC
level can become a decision-making leader depending on the available
negotiating power. Consequently, three leadership types are modelled on
each level and the total SC profit is calculated and compared to ascertain
the best option. The authors of the article found that transfer of
leadership from a retailer to supplier results in reduction of the total
profit. In addition, the research focused on the main effects of
parameters used in leadership models. Finally, validation of the proposed
model was examined by simulation and Arena software, which indicated that
models based on a game theory were performed accurately.
Journal: Journal of Business Economics and Management
Pages: 616-637
Issue: 3
Volume: 14
Year: 2013
Month: 6
X-DOI: 10.3846/16111699.2012.761648
File-URL: http://hdl.handle.net/10.3846/16111699.2012.761648
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Handle: RePEc:taf:jbemgt:v:14:y:2013:i:3:p:616-637
Template-Type: ReDIF-Article 1.0
Author-Name: Seyed Hossein Razavi Hajiagha
Author-X-Name-First: Seyed Hossein Razavi
Author-X-Name-Last: Hajiagha
Author-Name: Edmundas Kazimieras Zavadskas
Author-X-Name-First: Edmundas Kazimieras
Author-X-Name-Last: Zavadskas
Author-Name: Shide Sadat Hashemi
Author-X-Name-First: Shide Sadat
Author-X-Name-Last: Hashemi
Title: Application of stepwise data envelopment analysis and grey incidence analysis to evaluate the effectiveness of export promotion programs
Abstract:
AbstractExport promotion programs
are incentives to increase the participation of companies in international
markets. On the other hand, governments try to help exporting companies
with developing their goal markets. Therefore, for this purpose, many
different programs have been created. To show the effectiveness of these
programs, the paper refers to stepwise DEA and grey incidence analysis.
Finally, the article determines a unified ranking of the applied programs
that can be used by decision makers for resource allocation considering
different types of programs based on their effectiveness.
Journal: Journal of Business Economics and Management
Pages: 638-650
Issue: 3
Volume: 14
Year: 2013
Month: 6
X-DOI: 10.3846/16111699.2012.745819
File-URL: http://hdl.handle.net/10.3846/16111699.2012.745819
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Handle: RePEc:taf:jbemgt:v:14:y:2013:i:3:p:638-650
Template-Type: ReDIF-Article 1.0
Author-Name: Roman Šperka
Author-X-Name-First: Roman
Author-X-Name-Last: Šperka
Author-Name: Marek Spišák
Author-X-Name-First: Marek
Author-X-Name-Last: Spišák
Title: Transaction costs influence on the stability of financial market: agent-based simulation
Abstract:
AbstractWe implement an agent-based simulation of financial
market model. Agent-based simulations are used nowadays as an alternative
to the traditional models, based on predetermined equilibrium state
theory. Agent technology brings some kind of local intelligence and
rational expectations to the decision support system of financial market
participants. Agents follow technical and fundamental trading rules to
determine their speculative investment positions. We consider direct
interactions between speculators and they may decide to change their
trading behaviour. If a technical trader meets a fundamental trader and
they realize that fundamental trading has been more profitable than
technical trading in recent past, the probability that the technical
trader switches to the fundamental trading rules is relatively high. In
particular the influence of transaction costs is studied in this paper.
Transaction costs can be increased by the off-market regulation (for
example in the form of taxes) on financial market stability, by overall
volume of trade and other market characteristics. The paper shows a
positive impact of suitable transaction costs on the financial market
stability in the long run.
Journal: Journal of Business Economics and Management
Pages: S1-S12
Issue: sup1
Volume: 14
Year: 2013
Month: 6
X-DOI: 10.3846/16111699.2012.701227
File-URL: http://hdl.handle.net/10.3846/16111699.2012.701227
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Handle: RePEc:taf:jbemgt:v:14:y:2013:i:sup1:p:S1-S12
Template-Type: ReDIF-Article 1.0
Author-Name: Adnan Kasman
Author-X-Name-First: Adnan
Author-X-Name-Last: Kasman
Author-Name: Saadet Kasman
Author-X-Name-First: Saadet
Author-X-Name-Last: Kasman
Author-Name: Duygu Ayhan
Author-X-Name-First: Duygu
Author-X-Name-Last: Ayhan
Author-Name: Erdost Torun
Author-X-Name-First: Erdost
Author-X-Name-Last: Torun
Title: Total factor productivity and convergence: evidence from old and new EU member countries' banking sectors
Abstract:
AbstractThis paper examines whether there has been
convergence of total factor productivity levels across twenty-two EU
member and three candidate countries following the process of legislative
harmonization. The results indicate evidence of β-convergence and
σ-convergence in productivity across sampled countries. The results
further indicate that all sampled banking sectors seem to have experienced
a significant productivity growth over the sample period. The productivity
growth levels range from 3.1% to 15.6% and 6.8% to 19.5% in the old member
and new member states, respectively. The geometric means considering all
banking firms in the new member and candidate countries together reveal
that banking sectors in these countries were more productive than those of
in the old EU member countries. Overall, the evidence indicates that
promoting merger and acquisition activities in the banking system (and
hence supporting market driven consolidation of smaller banks) and
enhancing the presence of foreign banks could increase competition and
productivity in these banking systems.
Journal: Journal of Business Economics and Management
Pages: S13-S35
Issue: sup1
Volume: 14
Year: 2013
Month: 6
X-DOI: 10.3846/16111699.2012.701228
File-URL: http://hdl.handle.net/10.3846/16111699.2012.701228
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Handle: RePEc:taf:jbemgt:v:14:y:2013:i:sup1:p:S13-S35
Template-Type: ReDIF-Article 1.0
Author-Name: Vít Pošta
Author-X-Name-First: Vít
Author-X-Name-Last: Pošta
Author-Name: Zdeněk Pikhart
Author-X-Name-First: Zdeněk
Author-X-Name-Last: Pikhart
Title: Systematic risk during 2008-2009 recession in emerging markets: some evidence from V3 and Baltic economies
Abstract:
AbstractAbrupt and profound swings in economic activity can
result in changes in systematic component of risk premia of capital market
assets. This can translate into adjustments in risk perception by the
market agents, which may lead to significant changes in real investment
development. We examine the issue of time-varying systematic risk on a
micro level using the capital asset pricing model in an intertemporal
setting. We formulate the hypothesis within a bivariate GARCH-in-mean
model, which enables us to estimate the time-varying variances and
covariances of the respective assets and market returns and thus the
time-varying sensitivity to systematic risk. The results of the paper show
that the reaction of assets' sensitivity to systematic risk varies across
the sample and the changes were rather temporary. Based on the results,
the downturn in economic activity witnessed in 2008 - 2009 should not be a
drag on real investment.
Journal: Journal of Business Economics and Management
Pages: S36-S55
Issue: sup1
Volume: 14
Year: 2013
Month: 6
X-DOI: 10.3846/16111699.2012.711363
File-URL: http://hdl.handle.net/10.3846/16111699.2012.711363
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Handle: RePEc:taf:jbemgt:v:14:y:2013:i:sup1:p:S36-S55
Template-Type: ReDIF-Article 1.0
Author-Name: Wafa N. Almobaireek
Author-X-Name-First: Wafa N.
Author-X-Name-Last: Almobaireek
Author-Name: Tatiana S. Manolova
Author-X-Name-First: Tatiana S.
Author-X-Name-Last: Manolova
Title: Entrepreneurial motivations among female university youth in Saudi Arabia
Abstract:
AbstractTo successfully target potential women
entrepreneurs in Saudi Arabia, a better understanding of their
entrepreneurial motivations is needed. In this study, we used economic,
human development, and social learning perspectives to explore the
entrepreneurial motivations among female university youth in Saudi Arabia
and formulated three hypotheses on the gender differences in these
motivations. We conducted a survey among undergraduate students at King
Saud University in Spring'2010 (n = 856) and tested our hypotheses using
analysis of variance (chi-square tests and t-tests). Consistent with
research on female entrepreneurs around the world, our results indicate
that female university youth in Saudi Arabia are more likely than men to
start an entrepreneurial venture out of necessity, whereas men are more
likely to have a financial success motivation. At the same time, and in
contrast to findings from studies on entrepreneurial motivations in the
context of Western Europe and the USA, young Saudi university women report
a narrower range of entrepreneurial motivations, compared to men. The
implications of this exploratory study point to the need for initiatives
specifically focused at young women in order to increase their confidence
that entrepreneurship is a viable route to accomplish a broad range of
career reasons.
Journal: Journal of Business Economics and Management
Pages: S56-S75
Issue: sup1
Volume: 14
Year: 2013
Month: 6
X-DOI: 10.3846/16111699.2012.711364
File-URL: http://hdl.handle.net/10.3846/16111699.2012.711364
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Handle: RePEc:taf:jbemgt:v:14:y:2013:i:sup1:p:S56-S75
Template-Type: ReDIF-Article 1.0
Author-Name: Lixin Shen
Author-X-Name-First: Lixin
Author-X-Name-Last: Shen
Author-Name: Kannan Govindan
Author-X-Name-First: Kannan
Author-X-Name-Last: Govindan
Author-Name: Atul B. Borade
Author-X-Name-First: Atul B.
Author-X-Name-Last: Borade
Author-Name: Ali Diabat
Author-X-Name-First: Ali
Author-X-Name-Last: Diabat
Author-Name: Devika Kannan
Author-X-Name-First: Devika
Author-X-Name-Last: Kannan
Title: An evaluation of vendor managed inventory practices from small and medium indian enterprises
Abstract:
AbstractVendor managed inventory has proven to be an
effective tool for improving the supply chain performance by decreasing
inventory-related costs and increasing customer service. It is quite
evident from the literature that vendor managed inventory (VMI) has been
successfully implemented in small and medium enterprises (SMEs). However,
studies related to the implementation of VMI in Indian SMEs are very
limited. Therefore, this study presents an empirical investigation of VMI
practices in Indian SMEs using survey methodology. The paper evaluates the
benefits, barriers, and effects of adopting VMI in Indian SMEs, and also
investigates the IT tools and software used for VMI adoption. Furthermore,
this study explores the dissimilarities among various sectors of SMEs
adopting VMI. Based on the proposed methodology, it is found that
organizational issues and unwillingness to share information are the major
barriers. In terms of benefits, the major influencing variables are
improved efficiency and improved channel relations.
Journal: Journal of Business Economics and Management
Pages: S76-S95
Issue: sup1
Volume: 14
Year: 2013
Month: 6
X-DOI: 10.3846/16111699.2012.749805
File-URL: http://hdl.handle.net/10.3846/16111699.2012.749805
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Handle: RePEc:taf:jbemgt:v:14:y:2013:i:sup1:p:S76-S95
Template-Type: ReDIF-Article 1.0
Author-Name: Kaisheng Zeng
Author-X-Name-First: Kaisheng
Author-X-Name-Last: Zeng
Author-Name: Xiaohui Luo
Author-X-Name-First: Xiaohui
Author-X-Name-Last: Luo
Title: Impact of ownership type and firm size on organizational culture and on the organizational culture-effectiveness linkage
Abstract:
AbstractThis paper aims to extend the extant (primarily
Western) organizational culture literature to emerging economies by
explicitly incorporating two key contextual variables-ownership type and
firm size into organizational culture model. Based on the theoretical
model developed by Denison and his colleagues, we examined the impact of
ownership type and firm size on organizational culture, as well as the
moderating effect of the two contextual variables on the linkage between
organizational culture and firm effectiveness. Using survey data from
foreign-invested and state-owned firms in China, we find that ownership
type and firm size have significant influence on organizational culture.
We also find that different ownership type and firm size result in
different organizational cultural effect on performance.
Journal: Journal of Business Economics and Management
Pages: S96-S111
Issue: sup1
Volume: 14
Year: 2013
Month: 6
X-DOI: 10.3846/16111699.2012.754373
File-URL: http://hdl.handle.net/10.3846/16111699.2012.754373
File-Format: text/html
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Handle: RePEc:taf:jbemgt:v:14:y:2013:i:sup1:p:S96-S111
Template-Type: ReDIF-Article 1.0
Author-Name: Yi-Hsien Wang
Author-X-Name-First: Yi-Hsien
Author-X-Name-Last: Wang
Author-Name: Fu-Ju Yang
Author-X-Name-First: Fu-Ju
Author-X-Name-Last: Yang
Author-Name: Li-Je Chen
Author-X-Name-First: Li-Je
Author-X-Name-Last: Chen
Title: An investor's perspective on infectious diseases and their influence on market behavior
Abstract:
AbstractRecently, increasing number of infectious diseases
has swept the world. The outbreak of a contagious disease not only affects
the health and lives of people but also causes economic growth to
stagnate. Business in the biotechnology industry is closely related to
infectious diseases but what exactly is the information value of the
outbreak of infectious disease on biotechnology? This study investigates
how such outbreaks can affect the performance of biotechnology stocks. In
the past 10 years, major statutory infectious diseases in Taiwan have
included ENTEROVIRUS 71, DENGUE FEVER, SARS and H1N1. The empirical
results indicate that there is a significant abnormal return on company
shares in Taiwan's biotechnology industry because of statutory infectious
epidemics. The relationship between the financial ratios of biotechnology
companies and abnormal returns was analyzed as part of this research. The
results show that the influence on R&D ratios, current ratios and assets
are significant. Empirical findings reveal that the investors rationally
measure operating conditions of the biotechnology companies during
outbreaks of major infectious disease and adjust portfolio allocation
accordingly.
Journal: Journal of Business Economics and Management
Pages: S112-S127
Issue: sup1
Volume: 14
Year: 2013
Month: 6
X-DOI: 10.3846/16111699.2012.711360
File-URL: http://hdl.handle.net/10.3846/16111699.2012.711360
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Handle: RePEc:taf:jbemgt:v:14:y:2013:i:sup1:p:S112-S127
Template-Type: ReDIF-Article 1.0
Author-Name: Justo de Jorge Moreno
Author-X-Name-First: Justo
Author-X-Name-Last: de Jorge Moreno
Author-Name: Leopoldo Laborda Castillo
Author-X-Name-First: Leopoldo
Author-X-Name-Last: Laborda Castillo
Title: Comparative analysis on the efficiency of the firm and theirs determinants of European transition economics
Abstract:
AbstractIn this study we evaluate the efficiency of the
firms with DEA technique and bootstrapping procedure in eleven transition
economics among sixth industrial and service sectors in a cross-section
2005. At the second stage, we study the relationship between corrected
efficiency scores and possible explanatory variables. On one hand, our
result shows statistically significant differences in efficiency levels
across countries and sectors. Likewise, significant levels of inefficiency
are identified especially in service sectors (Hotels and Restaurants,
Retail and Wholesale and Transport). On the others hand, the results of
the analysis in second stage confirmed the existence of a significant
relationship between the country that firms operate (country-effect) and
firm′s age (learning by doing). The latter relationship between age
and efficiency has different behaviors according to the sector concerned,
in the form of U shape in the Hotels and Restaurants, inverted U shape in
Metal and Machinery and Wood and Furniture and linear in the Retail and
Wholesale sector. Contrary perhaps to expectations, the results also allow
us to conclude that there is no important statistically significant
relationship between the efficiency and variables related to the
strategies implemented by firms and the control of the property.
Journal: Journal of Business Economics and Management
Pages: S128-S144
Issue: sup1
Volume: 14
Year: 2013
Month: 6
X-DOI: 10.3846/16111699.2012.707985
File-URL: http://hdl.handle.net/10.3846/16111699.2012.707985
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Handle: RePEc:taf:jbemgt:v:14:y:2013:i:sup1:p:S128-S144
Template-Type: ReDIF-Article 1.0
Author-Name: Hong Long Chen
Author-X-Name-First: Hong
Author-X-Name-Last: Long Chen
Title: Logit models for early warning of distressed capital projects
Abstract:
AbstractThe focus of this study is to demonstrate how
probabilistic models may be employed to provide early warnings for
distressed capital projects. While identifying the key determinants of
project performance is important, few studies test discriminatory power of
variables for predicting distressed capital projects. Thus, this
longitudinal study of 121 capital projects identifies key variables in the
initiation and planning phases of projects that differentiate between
healthy and distressed projects at completion. Subsequent univariate
logistic analysis shows that the Quality variable
provides the highest univariate classification accuracy. Hierarchical
logistic-regression analysis reveals high classification accuracy and
relatively small differences in overall classification rates.
Out-of-sample forecasting validation demonstrates that the optimal model
provides a reasonably good overall classification rate of 85.37%.
Ultimately, our findings suggest that it is feasible to discriminate
simultaneously between healthy and distressed projects prior to the
project execution phase in the capital facility delivery process,
providing an early warning of projects in distress.
Journal: Journal of Business Economics and Management
Pages: S145-S167
Issue: sup1
Volume: 14
Year: 2013
Month: 6
X-DOI: 10.3846/16111699.2012.711358
File-URL: http://hdl.handle.net/10.3846/16111699.2012.711358
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Handle: RePEc:taf:jbemgt:v:14:y:2013:i:sup1:p:S145-S167
Template-Type: ReDIF-Article 1.0
Author-Name: Kong
Author-X-Name-First:
Author-X-Name-Last: Kong
Title: Does corporate social responsibility affect the participation of minority shareholders in corporate governance?
Abstract:
AbstractUsing a unique minority shareholders voting
dataset, we aim to shed light on several important issues on corporate
governance and investor protection. Specifically, we first examine the
effects of social responsibility (CSR) on minority
shareholder participation (MSP). Then, we investigate
whether the mounting attention to CSR due to certain
events has marginal effects on MSP, and whether
CSR and MSP affect firms' market
performances. Collectively, we find that: 1) firms' CSR
levels significantly affect MSP and can substitute the
governance role of minority shareholders to some extent; 2) exogenous
shocks related to CSR can significantly affect
MSP; and 3) firms with higher CSR level
and lower MSP enjoy higher market value improvements. In
addition, we find limited evidence that institutional investors may face
conflict-of-interest pressures and vote against individual investors. Our
results are robust to alternative specifications and offer significant
policy implications.
Journal: Journal of Business Economics and Management
Pages: S168-S187
Issue: sup1
Volume: 14
Year: 2013
Month: 6
X-DOI: 10.3846/16111699.2012.711365
File-URL: http://hdl.handle.net/10.3846/16111699.2012.711365
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Handle: RePEc:taf:jbemgt:v:14:y:2013:i:sup1:p:S168-S187
Template-Type: ReDIF-Article 1.0
Author-Name: Dragisa Stanujkic
Author-X-Name-First: Dragisa
Author-X-Name-Last: Stanujkic
Author-Name: Sanja Stojanovic
Author-X-Name-First: Sanja
Author-X-Name-Last: Stojanovic
Author-Name: Rodoljub Jovanovic
Author-X-Name-First: Rodoljub
Author-X-Name-Last: Jovanovic
Author-Name: Nedeljko Magdalinovic
Author-X-Name-First: Nedeljko
Author-X-Name-Last: Magdalinovic
Title: A framework for Comminution Circuits Design evaluation using grey compromise programming
Abstract:
AbstractComminution process, particularly grinding, is very
important in the mineral processing industry. Some characteristics of ore
particles, which occur as a product of grinding process, have a
significant impact on the effects of further ore processing. At the same
time, this process requires a significant amount of energy and also
significantly affects the overall processing costs. Therefore, in this
paper, we propose new multiple criteria decision making model based on
grey compromise programming for adequate comminution circuit design
selection.Although it is based on a simple procedure, we consider that the
proposed model is efficient and flexible, and that it also represents the
basis for forming more sophisticated models for comminution circuit design
selection, as in addition, many other decision making problems in business
environment, which is characterized by predictions and uncertainty.
Journal: Journal of Business Economics and Management
Pages: S188-S212
Issue: sup1
Volume: 14
Year: 2013
Month: 6
X-DOI: 10.3846/16111699.2012.720599
File-URL: http://hdl.handle.net/10.3846/16111699.2012.720599
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Handle: RePEc:taf:jbemgt:v:14:y:2013:i:sup1:p:S188-S212
Template-Type: ReDIF-Article 1.0
Author-Name: Doowoo Nam
Author-X-Name-First: Doowoo
Author-X-Name-Last: Nam
Title: The estimation and decomposition of value-at-risk for non-normal portfolio returns
Abstract:
AbstractValue-at-risk (VaR) is a widely used measure for
evaluating the market risk of a trading portfolio. This article presents
the g-and-h method for estimating the
VaR of a portfolio with non-normal returns, and adds to the usefulness of
VaR as a risk management tool by decomposing the portfolio into individual
VaRs to estimate the contribution of the individual components toward the
overall VaR. While the VaR decomposition is algebraically simple under the
assumption of normality, that is not the case under non-normality which is
the property exhibited by most financial returns. We show that, by using
the g-and-h VaR method, the
decomposition analysis under non-normality can be performed with the same
degree of intuitiveness and ease as for the analytical methods based on
the assumption of normality.
Journal: Journal of Business Economics and Management
Pages: S213-S226
Issue: sup1
Volume: 14
Year: 2013
Month: 6
X-DOI: 10.3846/16111699.2012.703147
File-URL: http://hdl.handle.net/10.3846/16111699.2012.703147
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Handle: RePEc:taf:jbemgt:v:14:y:2013:i:sup1:p:S213-S226
Template-Type: ReDIF-Article 1.0
Author-Name: Chong Wu
Author-X-Name-First: Chong
Author-X-Name-Last: Wu
Author-Name: Xin Wang
Author-X-Name-First: Xin
Author-X-Name-Last: Wang
Author-Name: Xinying Zhang
Author-X-Name-First: Xinying
Author-X-Name-Last: Zhang
Author-Name: Yongli Li
Author-X-Name-First: Yongli
Author-X-Name-Last: Li
Author-Name: Brad O'Brien
Author-X-Name-First: Brad
Author-X-Name-Last: O'Brien
Title: Chinese airline competitiveness evaluation based on extended binary relative evaluation(BRE) model
Abstract:
AbstractIn order to eliminate the impact of the sample's
objective merits on the evaluation results, this research built a
two-stage model of Chinese airline competitiveness evaluation to reflect
the subjective management and performance. In the first stage, Analytic
Hierarchy Process (AHP) and Factor Analysis (FA) models were used to
analyze the data from 2008 to 2009. In the second stage, two kinds of
comprehensive evaluation indexes in 2008 were taken as the reference index
set, and two kinds of comprehensive evaluation indexes in 2009 as the
current index set. The four sets of data were calculated with the Group
Decision-making Model Based on Data Envelopment Analysis (DEA) with
Restraint Cone. This paper has (1) enriched the theory of airline
competitiveness,(2) built a more scientific and comprehensive evaluation
index system of airlines' competitiveness, (3) constructed a
competitiveness evaluation model based on BRE, and (4) conducted an
empirical study of the improved model based on the 2008 and 2009 data from
15 Chinese airlines. The ranking results of the proposed method, theory
and model coincide with the real conditions of the airline market
demonstrating that our evaluation of airline competitiveness based on BRE
is accurate, reliable and objective.
Journal: Journal of Business Economics and Management
Pages: S227-S256
Issue: sup1
Volume: 14
Year: 2013
Month: 6
X-DOI: 10.3846/16111699.2012.721391
File-URL: http://hdl.handle.net/10.3846/16111699.2012.721391
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Handle: RePEc:taf:jbemgt:v:14:y:2013:i:sup1:p:S227-S256
Template-Type: ReDIF-Article 1.0
Author-Name: Norzalita A. Aziz
Author-X-Name-First: Norzalita A.
Author-X-Name-Last: Aziz
Author-Name: Nor Asiah Omar
Author-X-Name-First: Nor Asiah
Author-X-Name-Last: Omar
Title: Exploring the effect of Internet marketing orientation, Learning Orientation and Market Orientation on innovativeness and performance: SME (exporters) perspectives
Abstract:
AbstractThis study explores the relationship between
Internet Marketing Orientation, Market Orientation, Learning Orientation,
Innovation Capabilities and Performance. The study also investigates the
role of Internet Marketing Orientation integration in the linkage between
Market Orientation-Innovativeness and Learning Orientation-Innovativeness.
From an analysis of usable survey data from 101 Bumiputera SMEs-Exporters,
three dimensions of Market Orientation (Customer Focus, Inter-Functional
Coordination, Information Dissemination), two dimensions of Learning
Orientation (Shared Knowledge, and Vision and Commitment to Learning), one
dimension of Internet Marketing Orientation and one dimension of
Innovation Capabilities and Performance are extracted from the factor
analysis results. The results of regression analysis show that Customer
Focus, Shared Knowledge and Vision, and Internet Marketing Orientation
directly influenced SMEs' Innovation Capabilities. However, Internet
Marketing Orientation is more influential in developing innovation
capabilities among SMEs compared to others. While, Shared Knowledge and
Vision is the crucial factor in enhancing the business performance among
SME (exporters). The relationship among a firm's Internet Marketing
Orientation, Learning Orientation, Market Orientation and Innovation
Capabilities and Performance are considered a crucial research area in
developing countries. The implications for Malaysian SMEs are discussed.
Journal: Journal of Business Economics and Management
Pages: S257-S278
Issue: sup1
Volume: 14
Year: 2013
Month: 6
X-DOI: 10.3846/16111699.2011.645865
File-URL: http://hdl.handle.net/10.3846/16111699.2011.645865
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Handle: RePEc:taf:jbemgt:v:14:y:2013:i:sup1:p:S257-S278
Template-Type: ReDIF-Article 1.0
Author-Name: Kelli Bodey
Author-X-Name-First: Kelli
Author-X-Name-Last: Bodey
Author-Name: Scott Weaven
Author-X-Name-First: Scott
Author-X-Name-Last: Weaven
Author-Name: Debra Grace
Author-X-Name-First: Debra
Author-X-Name-Last: Grace
Title: Multiple-unit franchising and performance outcomes
Abstract:
AbstractThe economic and social contribution of franchising
is widely reported. Although, most studies have examined franchising from
the single-unit typology, multiple-unit franchising is found to be a
popular and pervasive retailing strategy throughout the world. Despite
this, there is a paucity of prior research examining the factors
influencing the achievement of the four franchising imperatives. This
represents an important gap in the organizational choice
literature. Therefore, this study empirically examines the impact of the
four franchising imperatives (i.e. unit growth, system uniformity, local
responsiveness and system wide adaptation) (Bradach 1995) upon franchise
system operational performance across the four key governance structures
(i.e. master franchising, area development franchising, area
representative franchising and incremental franchising). Based on a sample
of 347 Australian franchisors, the findings indicate that there are
significant differences in the way in which three of the four imperatives
(i.e. unit growth, system uniformity and system-wide adaptation) impact on
performance across different governance structures. Practical and
managerial implications and future research direction are discussed.
Journal: Journal of Business Economics and Management
Pages: S279-S312
Issue: sup1
Volume: 14
Year: 2013
Month: 6
X-DOI: 10.3846/16111699.2012.711366
File-URL: http://hdl.handle.net/10.3846/16111699.2012.711366
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Handle: RePEc:taf:jbemgt:v:14:y:2013:i:sup1:p:S279-S312
Template-Type: ReDIF-Article 1.0
Author-Name: Maurizio La Rocca
Author-X-Name-First: Maurizio
Author-X-Name-Last: La Rocca
Author-Name: Fabiola Montalto
Author-X-Name-First: Fabiola
Author-X-Name-Last: Montalto
Title: The value of blockholders shaped by moderators
Abstract:
AbstractThis paper investigates the role of moderators in
affecting the relationship between ownership and value. The results
generally reveal a positive influence of blockholders on performance, that
is significantly affected by moderating factors. The link becomes negative
in listed firms, as well as in family ones, and vanishes in financial
constrained ones. Moreover, in case of managerial opportunism, the role of
blockholders increases the positive effect of ownership on performance.
Conversely, new governance reforms, improving the investors' protection,
have resized the centrality of the majority shareholder. Overall, results
can be used to make recommendations on how to improve corporate and
country-specific governance mechanisms.
Journal: Journal of Business Economics and Management
Pages: S313-S327
Issue: sup1
Volume: 14
Year: 2013
Month: 6
X-DOI: 10.3846/16111699.2013.794750
File-URL: http://hdl.handle.net/10.3846/16111699.2013.794750
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Handle: RePEc:taf:jbemgt:v:14:y:2013:i:sup1:p:S313-S327
Template-Type: ReDIF-Article 1.0
Author-Name: Claudine Kearney
Author-X-Name-First: Claudine
Author-X-Name-Last: Kearney
Author-Name: Robert D. Hisrich
Author-X-Name-First: Robert D.
Author-X-Name-Last: Hisrich
Author-Name: Bostjan Antoncic
Author-X-Name-First: Bostjan
Author-X-Name-Last: Antoncic
Title: The mediating role of corporate entrepreneurship for external environment effects on performance
Abstract:
AbstractA model is proposed that tests the antecedents and
the mediating effect of corporate entrepreneurship on the external
environment-performance relationship within private and public sector
organizations. Hypotheses were tested using data from a sample of chief
executive officers in 51 private sector organizations in the United
States, 141 private sector organizations in Slovenia and 134 public sector
state and semi-state enterprises in Ireland. Data was analyzed using
hierarchical regression analysis. The results show that dynamism and
munificence effects on performance are mediated by an organization's
corporate entrepreneurship in the private sector and munificence effects
on performance are mediated by an organization's renewal in the public
sector and that renewal must be in place to maximize the effect of
munificence on performance. The results support a model that incorporates
an extensive and diverse literature into a single model and helps
illuminate similarities and differences of corporate entrepreneurship
between the private sector and the public sector. The study shows that an
integrative model and the interplay among the constructs yields new
insights unavailable to single and focused approaches. It offers new
insights about corporate entrepreneurship, not only as a discrete pursuit,
but also as a construct that shapes and extends organizational
performance.
Journal: Journal of Business Economics and Management
Pages: S328-S357
Issue: sup1
Volume: 14
Year: 2013
Month: 6
X-DOI: 10.3846/16111699.2012.720592
File-URL: http://hdl.handle.net/10.3846/16111699.2012.720592
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Handle: RePEc:taf:jbemgt:v:14:y:2013:i:sup1:p:S328-S357
Template-Type: ReDIF-Article 1.0
Author-Name: Ana Beatriz Lopes de Sousa Jabbour
Author-X-Name-First: Ana Beatriz Lopes de Sousa
Author-X-Name-Last: Jabbour
Author-Name: Charbel José Chiappetta Jabbour
Author-X-Name-First: Charbel José Chiappetta
Author-X-Name-Last: Jabbour
Title: Contributions of operations management to the competitiveness of the Brazilian electronics sector
Abstract:
AbstractThe objective of this paper is to identify and
analyze various aspects of the internal and external operations management
of Brazil's electronics sector and to consider the opportunities for and
the threats to increasing the competitiveness of its participation in the
global supply chain. To address this shortage in the literature, a survey
of Brazilian Electric and Electronic Industry Association (ABINEE)
companies was conducted. The collected data were complemented with
secondary data to establish an overall view of the electronics sector in
Brazil. The results suggest that electronics product assembly companies
have the opportunity to invest more in information technology to expand
process integration, plan and develop products, integrate customers, and
maintain rather than expand their supply chain practices. The alignment
between internal and external operations management becomes important in
this context. The originality of this paper lies in its clarification of
operations management in an economically important sector and the insight
it provides to academics, practitioners and policy makers involved in the
domestic and international electronics sector.
Journal: Journal of Business Economics and Management
Pages: S358-S376
Issue: sup1
Volume: 14
Year: 2013
Month: 6
X-DOI: 10.3846/16111699.2012.720588
File-URL: http://hdl.handle.net/10.3846/16111699.2012.720588
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Handle: RePEc:taf:jbemgt:v:14:y:2013:i:sup1:p:S358-S376
Template-Type: ReDIF-Article 1.0
Author-Name: Evan Lau
Author-X-Name-First: Evan
Author-X-Name-Last: Lau
Author-Name: Ahmad Zubaidi Baharumshah
Author-X-Name-First: Ahmad Zubaidi
Author-X-Name-Last: Baharumshah
Author-Name: Soon
Author-X-Name-First:
Author-X-Name-Last: Soon
Title: The behavior of external debt in Asian countries: evidence based on panel unit root tests
Abstract:
AbstractThis article investigates the mean-reverting
behavior of the external debt ratio based on a clustered of 19 Asian
countries from 1981 to 2010. For this purpose, we use a government's
intertemporal budget constraint (GIBC) model popularized by Hamilton and
Flavin (1986). Our conclusions were drawn from panel data based tests,
including the newly developed test that accounts for both cross-sectional
dependency and structural breaks. Two major findings are noteworthy; first
majority debt ratios in the Asian countries are affected by structural
breaks. Second, we find unit root tests that do not accommodate breaks are
less likely to detect mean reversion in the debt ratios. In all, our
results indicate debt sustainability is a general characteristic of all
the Asian countries.
Journal: Journal of Business Economics and Management
Pages: S377-S394
Issue: sup1
Volume: 14
Year: 2013
Month: 6
X-DOI: 10.3846/16111699.2012.720589
File-URL: http://hdl.handle.net/10.3846/16111699.2012.720589
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Handle: RePEc:taf:jbemgt:v:14:y:2013:i:sup1:p:S377-S394
Template-Type: ReDIF-Article 1.0
Author-Name: Monika Golonka
Author-X-Name-First: Monika
Author-X-Name-Last: Golonka
Author-Name: Robert Rzadca
Author-X-Name-First: Robert
Author-X-Name-Last: Rzadca
Title: Does a connection exist among national culture, alliance strategy, and leading ICT firms' performance?
Abstract:
AbstractIn this paper we explore links among firms'
performance, firms' alliance strategies, and national culture in the
context of the global information and communication technologies (ICT)
industry. Currently, partnering is the one of the most effective ways to
access a broad set of resources. In the ICT industry, we can observe a
significant number of alliances, networks, and mergers and acquisitions.
The contribution of this paper is to investigate how a contextual factor -
namely, national culture - influences the alliance portfolio formation and
a firm's performance. We also aim to contribute to the issue of alliance
portfolio formation. First, the concepts of alliance portfolio and culture
as an explanatory factor are elaborated upon and their relevance to the
study discussed. Second, using a sample of 30 ICT leaders and 10,247 of
their alliances, we explore the effect of alliance strategy on firms'
performance as well as the connections among culture, firms' performance,
and alliance strategy. The study confirms that, in a global ICT industry
(i.e., the most dynamically changing and riskiest environment), weak
alliances may increase a firm's performance more than strong, traditional
strategic alliances. Culture may be used as one of the explanatory factors
affecting firms' performance as well as firms' alliance strategies.
Journal: Journal of Business Economics and Management
Pages: S395-S412
Issue: sup1
Volume: 14
Year: 2013
Month: 6
X-DOI: 10.3846/16111699.2012.732107
File-URL: http://hdl.handle.net/10.3846/16111699.2012.732107
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Handle: RePEc:taf:jbemgt:v:14:y:2013:i:sup1:p:S395-S412
Template-Type: ReDIF-Article 1.0
Author-Name: Gungor Hacioglu
Author-X-Name-First: Gungor
Author-X-Name-Last: Hacioglu
Author-Name: Osman Gök
Author-X-Name-First: Osman
Author-X-Name-Last: Gök
Title: Marketing performance measurement: marketing metrics in Turkish firms
Abstract:
AbstractThis study explores which metrics are considered
important in measuring marketing performance in Turkish firms. In
addition, the study examines the effects of sectoral differences and
market dynamism, and the relationship between the importance attached to
metrics and firm performance. The data collected from a sample of 145
Turkish firms via a structured questionnaire derived from the literature
reveals that the most importance is attached to consumers' attitudes
metrics. Economic value added and customer lifetime value are the least
important metrics in performance evaluation. No significant relationship
occurs between the importance that executives attach to metrics and firm
performance. Managerial implications and future research opportunities
will be presented at the end. The study is, as far as is known, the first
attempt at aiming to explore marketing metrics in Turkey, and one of a
limited number of studies in emerging economies.
Journal: Journal of Business Economics and Management
Pages: S413-S432
Issue: sup1
Volume: 14
Year: 2013
Month: 6
X-DOI: 10.3846/16111699.2012.729156
File-URL: http://hdl.handle.net/10.3846/16111699.2012.729156
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Handle: RePEc:taf:jbemgt:v:14:y:2013:i:sup1:p:S413-S432
Template-Type: ReDIF-Article 1.0
Author-Name: Agata Stachowicz-Stanusch
Author-X-Name-First: Agata
Author-X-Name-Last: Stachowicz-Stanusch
Author-Name: Aditya Simha
Author-X-Name-First: Aditya
Author-X-Name-Last: Simha
Title: An empirical investigation of the effects of ethical climates on organizational corruption
Abstract:
AbstractThis study investigates the effects of ethical
climates on organizational corruption. Data from 200 employees from seven
hospitals in Poland was used to test the specific relationships between
the five empirically occurring ethical climate types (i.e. caring,
instrumental, independence, law and code, and rules) and organizational
corruption. Law and code climates were negatively associated with
organizational corruption, while instrumental and caring climates were
positively associated with organizational corruption.
Journal: Journal of Business Economics and Management
Pages: S433-S446
Issue: sup1
Volume: 14
Year: 2013
Month: 6
X-DOI: 10.3846/16111699.2012.744345
File-URL: http://hdl.handle.net/10.3846/16111699.2012.744345
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Handle: RePEc:taf:jbemgt:v:14:y:2013:i:sup1:p:S433-S446
Template-Type: ReDIF-Article 1.0
Author-Name: Mohammad Reza Tavakoli Baghdadabad
Author-X-Name-First: Mohammad Reza
Author-X-Name-Last: Tavakoli Baghdadabad
Author-Name: Fauzias Mat Nor
Author-X-Name-First: Fauzias
Author-X-Name-Last: Mat Nor
Author-Name: Izani Ibrahim
Author-X-Name-First: Izani
Author-X-Name-Last: Ibrahim
Title: Mean-drawdown risk behavior: drawdown risk and capital asset pricing
Abstract:
AbstractWe develop an alternative approach based on
mean-drawdown risk behavior versus the mean-variance behavior. We develop
two risk measures as the maximum draw down risk and average drawdown risk
to estimate two new betas and then propose two CAPM-like
models. The data includes a comprehensive universe of more than 11,000 US
equity-based mutual funds from first month of 2000 to third month of
2011.The evidence clearly shows superiority of the maximum and average
drawdown betas and their pricing models, the maximum drawdown
CAPM and the average drawdown CAPM, over
the traditional beta and CAPM, respectively.
Journal: Journal of Business Economics and Management
Pages: S447-S469
Issue: sup1
Volume: 14
Year: 2013
Month: 6
X-DOI: 10.3846/16111699.2012.720593
File-URL: http://hdl.handle.net/10.3846/16111699.2012.720593
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Handle: RePEc:taf:jbemgt:v:14:y:2013:i:sup1:p:S447-S469
Template-Type: ReDIF-Article 1.0
Author-Name: Fernando Merino
Author-X-Name-First: Fernando
Author-X-Name-Last: Merino
Title: Capital structure of foreign affiliates and the investment decision: two questions to consider
Abstract:
AbstractThis paper analyses the ownership structure of
foreign affiliates of Spanish firms. In contrast to previous studies on
the participation degree, the paper highlights the importance of the
previous decision to invest abroad. To do so, an econometric model with a
limited dependent variable helps to show that to ignore the previous
decision modifies the conclusions of the empirical analyses that raise an
empirical model over a sample of firms with foreign affiliates.
Additionally, the paper analyses in detail the importance of the cultural
and political-legal differences between home and host countries that
justify a different type of participation in equity of foreign affiliates.
A clear implication for future research in this field is the need to
reconsider the econometric approach to include the investment decision. As
the paper has shown, a double-hurdle model provides notably different
results than the usual approaches, which in this case are closer to the
theoretical literature insights.
Journal: Journal of Business Economics and Management
Pages: S470-S492
Issue: sup1
Volume: 14
Year: 2013
Month: 6
X-DOI: 10.3846/16111699.2012.692704
File-URL: http://hdl.handle.net/10.3846/16111699.2012.692704
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Handle: RePEc:taf:jbemgt:v:14:y:2013:i:sup1:p:S470-S492
Template-Type: ReDIF-Article 1.0
Author-Name: Halil Tunca
Author-X-Name-First: Halil
Author-X-Name-Last: Tunca
Author-Name: Mehmet Karaçuka
Author-X-Name-First: Mehmet
Author-X-Name-Last: Karaçuka
Author-Name: A. Nazif Çatik
Author-X-Name-First: A. Nazif
Author-X-Name-Last: Çatik
Title: A meta-frontier approach to measure productivity differences of domestic and foreign affiliated firms
Abstract:
AbstractThis paper aims to evaluate the performance of
foreign affiliated and domestic firms in Turkish manufacturing subsectors
covering the period 1992 and 2001. Due to the heterogeneity between
domestic and foreign affiliated firms in terms of technology level, we
construct a meta-frontier model to measure relative efficiency and
technology gap ratios (TGR's) of domestic and foreign affiliated firms. We
find that technical efficiencies of foreign affiliated firms are higher
than domestic firms, and display a stable pattern during the investigation
period. However; technology gap ratios indicate the existence of a
negative relationship between the TGR's and technical efficiency of the
firms in domestic subsectors. This means that technically efficient firms
are in fact using the low level of technology. However the results do not
indicate any significant relationship between the technical efficiency and
TGR's of foreign affiliated firms.
Journal: Journal of Business Economics and Management
Pages: 651-663
Issue: 4
Volume: 14
Year: 2013
Month: 9
X-DOI: 10.3846/16111699.2011.653580
File-URL: http://hdl.handle.net/10.3846/16111699.2011.653580
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Handle: RePEc:taf:jbemgt:v:14:y:2013:i:4:p:651-663
Template-Type: ReDIF-Article 1.0
Author-Name: Elaine Ee
Author-X-Name-First: Elaine
Author-X-Name-Last: Ee
Author-Name: Hasliza Abdul Halim
Author-X-Name-First: Hasliza Abdul
Author-X-Name-Last: Halim
Author-Name: Thurasamy Ramayah
Author-X-Name-First: Thurasamy
Author-X-Name-Last: Ramayah
Title: HR outsourcing success: does partnership quality variables matter?
Abstract:
AbstractRecently, increased attention has been paid to
partnership quality in outsourcing strategy. However, research of
partnership quality on the outsourcing of human resources (HR) is very
limited. Therefore, this research aims at examining the relationship
between partnership quality variables (business understanding, trust,
commitment, communication and top management) and the success of HR
outsourcing. The sample is obtained from a cross sectional survey and the
sample studied are 96 manufacturing organizations in Penang, Malaysia.
Results indicate that most of the organizations that outsourced HR
functions were from electronic and electrical industry. The analyses also
show that partnership quality variables such as trust, business
understanding and communication have significant positive impact on HR
outsourcing success. The study concluded that HR outsourcing as a
competitive strategy in Malaysia is still relatively new and probably many
of its potential benefits are not fully understood. Therefore, by
understanding the relationship with the service providers, the
organizations are able to achieve outsourcing success by identifying areas
of expected benefits and improvements.
Journal: Journal of Business Economics and Management
Pages: 664-676
Issue: 4
Volume: 14
Year: 2013
Month: 9
X-DOI: 10.3846/16111699.2011.649012
File-URL: http://hdl.handle.net/10.3846/16111699.2011.649012
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Handle: RePEc:taf:jbemgt:v:14:y:2013:i:4:p:664-676
Template-Type: ReDIF-Article 1.0
Author-Name: Mohammad Reza Tavakoli Baghdadabad
Author-X-Name-First: Mohammad Reza
Author-X-Name-Last: Tavakoli Baghdadabad
Author-Name: Farid Habibi Tanha
Author-X-Name-First: Farid
Author-X-Name-Last: Habibi Tanha
Author-Name: Noreha Halid
Author-X-Name-First: Noreha
Author-X-Name-Last: Halid
Title: The efficiency evaluation of mutual fund managers based on DARA, CARA, IARA
Abstract:
AbstractWe evaluate the efficiency of mutual fund managers
of 20 different classes of management styles to identify the most
efficient strategies and to propose an optimal pattern in selecting the
funds by investors. We collect monthly data of 17,686 US mutual funds for
a five-year period 2005-2010 to minimize the impact of survivorship bias
and use Data Envelopment Analysis (DEA) model to evaluate the mutual fund
performance. The set of considered inputs comprised "variance",
representing the mutual fund risk, and "turnover, expense ratio and loads
indicators", reflecting the mutual fund costs and fees. Two kinds of
outputs are taken into account by our DEA model, "portfolio return" and
"stochastic dominance indicators". As a unique contribution, we state the
benefits of the DEA approach in the DARA, CARA, and IARA framework, and
evaluate the efficiency of mutual funds based on fund strategies as well
as the performance of best mutual funds among their group.The evidence
shows that the efficiency scores of technical, management, and scale are
respectively 0.81, 0.921, and 0.874 for the DARA model, while the
efficiency scores of two models of CARA and IARA are negligible. Also, we
rank each management strategy in any model based on two methods - the
number of referencing and the weighted value so that the managers of
inefficient strategies must pattern the managers' ability of reference
(efficient) strategies to improve their efficiency on the fund market in
future.
Journal: Journal of Business Economics and Management
Pages: 677-695
Issue: 4
Volume: 14
Year: 2013
Month: 9
X-DOI: 10.3846/16111699.2011.651625
File-URL: http://hdl.handle.net/10.3846/16111699.2011.651625
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Handle: RePEc:taf:jbemgt:v:14:y:2013:i:4:p:677-695
Template-Type: ReDIF-Article 1.0
Author-Name: Sarfaraz Hashemkhani Zolfani
Author-X-Name-First: Sarfaraz Hashemkhani
Author-X-Name-Last: Zolfani
Author-Name: Abdolhamid Safaei Ghadikolaei
Author-X-Name-First: Abdolhamid Safaei
Author-X-Name-Last: Ghadikolaei
Title: Performance evaluation of private universities based on balanced scorecard: empirical study based on Iran
Abstract:
AbstractPrivate universities are new generation of
universities in Iran that their existences are less than 20 years. The
research in this area was never completed about evaluating of these
universities all these years. The aim of this research is to make a
framework for evaluating these universities with Balanced Scorecard (BSC)
and MCDM methods. Three MCDM methods are applied in this research. DEMATEL
is applied for research on cause and effect relations of perspectives of
BSC, ANP is applied to calculate weights of indices in perspectives and
finally VIKOR for ranking universities that is selected as a case study.
This research totally used 38 experts in two groups for evaluating of
universities. Results of this research are: (1) Internal Process is the
most effective perspective of BSC. (2) Brand, Academic Excellence, Product
Quality, Student Satisfaction and Budget Control are five more important
indices that calculated with ANP. (3) Shomal University of Amol is the
best university among five universities that were selected for this
research and they have been established more than ten years.
Journal: Journal of Business Economics and Management
Pages: 696-714
Issue: 4
Volume: 14
Year: 2013
Month: 9
X-DOI: 10.3846/16111699.2012.665383
File-URL: http://hdl.handle.net/10.3846/16111699.2012.665383
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Handle: RePEc:taf:jbemgt:v:14:y:2013:i:4:p:696-714
Template-Type: ReDIF-Article 1.0
Author-Name: Fernando A. F. Ferreira
Author-X-Name-First: Fernando A. F.
Author-X-Name-Last: Ferreira
Author-Name: Ronald W. Spahr
Author-X-Name-First: Ronald W.
Author-X-Name-Last: Spahr
Author-Name: Irina F. M. D. Gavancha
Author-X-Name-First: Irina F. M. D.
Author-X-Name-Last: Gavancha
Author-Name: Amali Çipi
Author-X-Name-First: Amali
Author-X-Name-Last: Çipi
Title: Readjusting trade-offs among criteria in internal ratings of credit-scoring: an empirical essay of risk analysis in mortgage loans
Abstract:
AbstractCredit-scoring becomes increasingly important in
poor economies and recessions. Decreasing liquidity due to reduced access
to both money and debt markets has induced banks to impose restrictions on
offering credit, including credit for mortgage loans. In this paper we
analyze the internal rating system used by one of the top-five banks in
Portugal, and propose a methodological framework which, based on an
application of the Delphi technique, allows adjusting trade-offs among
evaluation criteria and provides decision makers with a fairer, more
accurate and transparent mortgage risk evaluation system.
Journal: Journal of Business Economics and Management
Pages: 715-740
Issue: 4
Volume: 14
Year: 2013
Month: 9
X-DOI: 10.3846/16111699.2012.666999
File-URL: http://hdl.handle.net/10.3846/16111699.2012.666999
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Handle: RePEc:taf:jbemgt:v:14:y:2013:i:4:p:715-740
Template-Type: ReDIF-Article 1.0
Author-Name: V. G. R. Chandran
Author-X-Name-First: V. G. R.
Author-X-Name-Last: Chandran
Author-Name: Rajah Rasiah
Author-X-Name-First: Rajah
Author-X-Name-Last: Rasiah
Title: Firm size, technological capability, exports and economic performance: the case of electronics industry in Malaysia
Abstract:
AbstractThis paper examines the joint effects of technology
and exports on the economic performances of electronics firms in Malaysia.
The empirical results based on the Partial Least Square (PLS) estimate
procedure show that technological capability plays a multiple role in that
it influences both the exports and performance of a firm simultaneously.
More importantly, we find evidence that exports act as a mediating
variable between technological capability and firm performance. Size is
found to influence all three: product capabilities, exports and firm
performance but not process capabilities. This paper concludes that
researchers, in future studies, need to examine the dynamism between size,
technology, exports and performance.
Journal: Journal of Business Economics and Management
Pages: 741-757
Issue: 4
Volume: 14
Year: 2013
Month: 9
X-DOI: 10.3846/16111699.2012.668860
File-URL: http://hdl.handle.net/10.3846/16111699.2012.668860
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Handle: RePEc:taf:jbemgt:v:14:y:2013:i:4:p:741-757
Template-Type: ReDIF-Article 1.0
Author-Name: Fernando García
Author-X-Name-First: Fernando
Author-X-Name-Last: García
Author-Name: Francisco Guijarro
Author-X-Name-First: Francisco
Author-X-Name-Last: Guijarro
Author-Name: Ismael Moya
Author-X-Name-First: Ismael
Author-X-Name-Last: Moya
Title: A multiobjective model for passive portfolio management: an application on the S&P 100 index
Abstract:
AbstractIndex tracking seeks to minimize the unsystematic
risk component by imitating the movements of a reference index. Partial
index tracking only considers a subset of the stocks in the index,
enabling a substantial cost reduction in comparison with full tracking.
Nevertheless, when heterogeneous investment profiles are to be satisfied,
traditional index tracking techniques may need different stocks to build
the different portfolios. The aim of this paper is to propose a
methodology that enables a fund's manager to satisfy different clients'
investment profiles but using in all cases the same subset of stocks, and
considering not only one particular criterion but a compromise between
several criteria. For this purpose we use a mathematical programming model
that considers the tracking error variance, the excess return and the
variance of the portfolio plus the curvature of the tracking frontier. The
curvature is not defined for a particular portfolio, but for all the
portfolios in the tracking frontier. This way funds' managers can offer
their clients a wide range of risk-return combinations just picking the
appropriate portfolio in the frontier, all of these portfolios sharing the
same shares but with different weights. An example of our proposal is
applied on the S&P 100.
Journal: Journal of Business Economics and Management
Pages: 758-775
Issue: 4
Volume: 14
Year: 2013
Month: 9
X-DOI: 10.3846/16111699.2012.668859
File-URL: http://hdl.handle.net/10.3846/16111699.2012.668859
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Handle: RePEc:taf:jbemgt:v:14:y:2013:i:4:p:758-775
Template-Type: ReDIF-Article 1.0
Author-Name: Marinko Škare
Author-X-Name-First: Marinko
Author-X-Name-Last: Škare
Author-Name: Tea Golja
Author-X-Name-First: Tea
Author-X-Name-Last: Golja
Title: How important are CSR companies for nations' growth?
Abstract:
AbstractThe paper provides new empirical evidence on the
positive link between corporate social responsibility and income growth.
Using available data for 26 countries over 2000-2008 we investigate
cross-country growth differences by adding new variable (corporate social
responsibility) to the standard growth regression model. We show that
corporate social responsibility impact on growth is statistically
significant but limited in size. Moreover, the inclusion of corporate
social responsibility variable improves the fit of the regression.
Countries with higher corporate social responsibility penetration as India
achieve higher income growth rates. Evidence of the positive link between
corporate social responsibility presented in this study encourage but
further research on mechanism how socially responsible behavior affects
growth is necessary.
Journal: Journal of Business Economics and Management
Pages: 776-790
Issue: 4
Volume: 14
Year: 2013
Month: 9
X-DOI: 10.3846/16111699.2013.820664
File-URL: http://hdl.handle.net/10.3846/16111699.2013.820664
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Handle: RePEc:taf:jbemgt:v:14:y:2013:i:4:p:776-790
Template-Type: ReDIF-Article 1.0
Author-Name: Rolandas Drejeris
Author-X-Name-First: Rolandas
Author-X-Name-Last: Drejeris
Author-Name: Juozas Bivainis
Author-X-Name-First: Juozas
Author-X-Name-Last: Bivainis
Author-Name: Živilė Tunčikienė
Author-X-Name-First: Živilė
Author-X-Name-Last: Tunčikienė
Author-Name: Eglė Drejerienė
Author-X-Name-First: Eglė
Author-X-Name-Last: Drejerienė
Title: Determining the purposefulness of new services on the grounds of the results of quantitative analysis
Abstract:
AbstractThe goal of the present article is to propose a
methodology for substantiating the purposefulness of new service
development reasoned by the results of a quantitative analysis of the
current situation. The core of determining the purposefulness of new
service development is assessing and comparing two trends of service
business development: new service implementation and the main alternative
of this process - the expansion of the scope of the current services. The
paper demonstrates how the authors consolidate, annotate and critique
available research on some logical aspects of new service development in
order to find more objective quantitative decisions. The study provides
the methodology (process model) of determining the purposefulness of new
service development. A new attitude is evidenced by discovering
quantitative assessment according to different sets of criteria. The paper
also improves the comprehension of the complex process of new service
implementation - proves the necessity of the first step, i.e. the
determination of the purposefulness of a new service, which is often
missed by authors. Appropriate solutions, according to the results of the
suggested quantitative analysis, would increase the objectivity of
assessment and the probability of successful new services.
Journal: Journal of Business Economics and Management
Pages: 791-805
Issue: 4
Volume: 14
Year: 2013
Month: 9
X-DOI: 10.3846/16111699.2013.772917
File-URL: http://hdl.handle.net/10.3846/16111699.2013.772917
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Handle: RePEc:taf:jbemgt:v:14:y:2013:i:4:p:791-805
Template-Type: ReDIF-Article 1.0
Author-Name: Ilona Skačkauskienė
Author-X-Name-First: Ilona
Author-X-Name-Last: Skačkauskienė
Title: Research on the dynamics of Lithuanian state revenue and preferences for expenditure allocation
Abstract:
AbstractThe article analyses revenue and expenditure on the
national budget of Lithuania and looks at their dynamics and structure.
First, the paper is aimed at naming the main sources of revenue as well as
the preferential areas of financing. Second, it is also sought to disclose
the objective principles of allocating budget appropriation. To achieve
the goal, the correlation between preferences in government activity and
expenditure allocation was investigated. The conducted research employs
ranging and correlational analysis. Since the formation of a bigger budget
leads to an increased appropriation of all functional areas, structural
data were analysed thus enabling to more soundly determine whether the
distinction of a functional area, as the preferential one, has an
influence on its greater significance in the overall system of the
national budget. After making the study, no possibility of asserting that
a distinction of the preferential functional area is related to its
preferential financing exists. In order to summarize the obtained results,
it could be claimed that the allocation of resources accumulated by the
state would be more substantiated if we related it more with activity
priorities of the Government. This would lead to higher objectivity when
taking decisions on public administration.
Journal: Journal of Business Economics and Management
Pages: 806-817
Issue: 4
Volume: 14
Year: 2013
Month: 9
X-DOI: 10.3846/16111699.2013.789451
File-URL: http://hdl.handle.net/10.3846/16111699.2013.789451
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Handle: RePEc:taf:jbemgt:v:14:y:2013:i:4:p:806-817
Template-Type: ReDIF-Article 1.0
Author-Name: Hassan Heidari
Author-X-Name-First: Hassan
Author-X-Name-Last: Heidari
Author-Name: Salih Turan Katircioglu
Author-X-Name-First: Salih Turan
Author-X-Name-Last: Katircioglu
Author-Name: Sahar Bashiri
Author-X-Name-First: Sahar
Author-X-Name-Last: Bashiri
Title: Inflation, inflation uncertainty and growth in the Iranian economy: an application of BGARCH-M model with BEKK approach
Abstract:
AbstractThis paper investigates the relationship between
inflation, economic growth and their respective uncertainties in Iran for
the period of 1988-2008 by using quarterly data. We employ a Bivariate
Generalized Autoregressive Conditional Heteroskedasticity-in-Mean
(BGARCH-M) model to examine in a unified empirical framework all the
possible interactions between inflation uncertainty and growth in Iran.
The model is simultaneously estimated by using the maximum log-likelihood
method with the BEKK approach. The main findings of the present study are:
(1) Inflation causes inflation uncertainty, supporting the Friedman-Ball
hypothesis. (2) Inflation uncertainty affects the level of economic
growth, supporting the Friedman (1977) hypothesis. (3) Growth uncertainty
does not affect the level of economic growth, supporting the Friedman
(1968) hypothesis. (4) And finally our empirical evidence shows that
growth uncertainty affects the level of inflation, supporting the Deveraux
(1989) hypothesis.
Journal: Journal of Business Economics and Management
Pages: 819-832
Issue: 5
Volume: 14
Year: 2013
Month: 11
X-DOI: 10.3846/16111699.2012.670134
File-URL: http://hdl.handle.net/10.3846/16111699.2012.670134
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Handle: RePEc:taf:jbemgt:v:14:y:2013:i:5:p:819-832
Template-Type: ReDIF-Article 1.0
Author-Name: Kuan-Min Wang
Author-X-Name-First: Kuan-Min
Author-X-Name-Last: Wang
Title: Can gold effectively hedge risks of exchange rate?
Abstract:
AbstractThis study tests whether gold can effectively hedge
exchange rate risks. We take into account the asymmetric characteristic of
exchange rate fluctuations and use the dynamic panel threshold model in
order to select gold prices in major gold-related currencies in the world:
the Australian dollar, the Canadian dollar, the euro, the Indian rupee,
the Japanese yen, the South African rand, and the British pound. Using
monthly data from January 1999 to January 2010, with lagged one-period
exchange rate returns (US dollar depreciation rate) as the threshold
variable, the estimation results suggest that there are two thresholds at
-7.5% and -3.7%. These can be divided into regime 1 (exchange rate returns
≤ -7.5%), regime 2 (-7.5% > exchange rate returns ≤ -3.7%), and
regime 3 (exchange rate returns > -3.7%). Regarding the effectiveness of
gold hedging, regime 2 is higher than is regime 3. The risk hedging effect
of regime 1 is not significant because it might be caused by the excessive
devaluation of the US dollar in the short-term and the overshooting of the
exchange rate adjustment, making gold unable to hedge the devaluation
risks of the US dollar.
Journal: Journal of Business Economics and Management
Pages: 833-851
Issue: 5
Volume: 14
Year: 2013
Month: 11
X-DOI: 10.3846/16111699.2012.670133
File-URL: http://hdl.handle.net/10.3846/16111699.2012.670133
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Handle: RePEc:taf:jbemgt:v:14:y:2013:i:5:p:833-851
Template-Type: ReDIF-Article 1.0
Author-Name: Nirosha Hewa Wellalage
Author-X-Name-First: Nirosha Hewa
Author-X-Name-Last: Wellalage
Author-Name: Stuart Locke
Author-X-Name-First: Stuart
Author-X-Name-Last: Locke
Title: Capital structure and its determinants in New Zealand firms
Abstract:
AbstractThe current study aims to empirically explore the
relationship between firm characteristics, corporate governance and
capital structure in New Zealand's large listed companies. Eight years of
data for 40 firms listed on the NZX50 Stock Exchange, are collected and
observations are analysed using a conditional quantile regression. This
study finds firm-specific characteristics rather than corporate governance
variables play a significant role in determining firm leverage levels. The
results indicate that finance policies need to vary across firm type and
firm characteristics, and should match with the different borrowing
requirements of listed firms.
Journal: Journal of Business Economics and Management
Pages: 852-866
Issue: 5
Volume: 14
Year: 2013
Month: 11
X-DOI: 10.3846/16111699.2012.680605
File-URL: http://hdl.handle.net/10.3846/16111699.2012.680605
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Handle: RePEc:taf:jbemgt:v:14:y:2013:i:5:p:852-866
Template-Type: ReDIF-Article 1.0
Author-Name: Alfredo M. Bobillo
Author-X-Name-First: Alfredo M.
Author-X-Name-Last: Bobillo
Author-Name: Juan A. Rodríguez-Sanz
Author-X-Name-First: Juan A.
Author-X-Name-Last: Rodríguez-Sanz
Author-Name: Fernando Tejerina-Gaite
Author-X-Name-First: Fernando
Author-X-Name-Last: Tejerina-Gaite
Title: Shareholder activism and internationalization in the family firm
Abstract:
AbstractWe present the internationalization of the family
firm (FF) as a corporate growth strategy that is sometimes necessary to
ensure survival. The different generations running the family firm (GFF)
are likely to be constrained, not only by the demands of the business
itself, but also by activism from non-management family shareholders. In
this paper, we perform an analysis of a sample of Spanish family firms,
both domestic and multinational, for the period 2000-2009. The results of
this analysis show evidence of a positive relationship between the scope
of internationalization and two other variables: family activism (FAI) and
life cycle duration of the family firm (DLFF). When it comes to seeking
alternative ways to create economic value and obtain debt finance, each
generation is less risk averse than the preceding one. However, increasing
family conflict over successive generations instigates economic
value-destroying behavior. Overall, our findings suggest that economic
value creation, leverage and international diversification in FFs will be
conditioned not only by the ownership structure and size of the company,
but also by the firm's current point in the business life cycle, the
generation that is in charge, and activism from other family members, all
of which play a decisive role in the FF internationalization and economic
value creation process.
Journal: Journal of Business Economics and Management
Pages: 867-885
Issue: 5
Volume: 14
Year: 2013
Month: 11
X-DOI: 10.3846/16111699.2012.707621
File-URL: http://hdl.handle.net/10.3846/16111699.2012.707621
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Handle: RePEc:taf:jbemgt:v:14:y:2013:i:5:p:867-885
Template-Type: ReDIF-Article 1.0
Author-Name: Leopoldo Laborda Castillo
Author-X-Name-First: Leopoldo Laborda
Author-X-Name-Last: Castillo
Author-Name: Daniel Sotelsek Salem
Author-X-Name-First: Daniel Sotelsek
Author-X-Name-Last: Salem
Title: Overdraft facility policy and firm's performance: an empirical analysis in Eastern European Union Industrial firms
Abstract:
AbstractThis article evaluates the effect of the overdraft
facility (or line of credit) policy by comparing a large sample of
overdraft facilitated firms and matched non-overdraft facilitated firms
from Eastern Europe at sector level. The sample firms are compared with
respect to rates of different performance indicators including: technical
efficiency (a Data Envelopment Analysis - DEA - approach is applied to
estimate technical efficiency level for individual sectors), production
workers trained, expenditures of R&D, and export activity. In order to
avoid the selectivity problem, propensity score matching methodologies are
adopted. Results suggest that a certain level of overdraft facility given
to a firm would be needed to stimulate investment in R&D, which will
eventually result in growth in productivity.
Journal: Journal of Business Economics and Management
Pages: 886-902
Issue: 5
Volume: 14
Year: 2013
Month: 11
X-DOI: 10.3846/16111699.2012.701223
File-URL: http://hdl.handle.net/10.3846/16111699.2012.701223
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Handle: RePEc:taf:jbemgt:v:14:y:2013:i:5:p:886-902
Template-Type: ReDIF-Article 1.0
Author-Name: Nilufar Ahsan
Author-X-Name-First: Nilufar
Author-X-Name-Last: Ahsan
Author-Name: David Yong Gun Fie
Author-X-Name-First: David Yong Gun
Author-X-Name-Last: Fie
Author-Name: Yeap Peik Foong
Author-X-Name-First: Yeap Peik
Author-X-Name-Last: Foong
Author-Name: Syed Shah Alam
Author-X-Name-First: Syed Shah
Author-X-Name-Last: Alam
Title: Relationship between retention factors and affective organisational commitment among knowledge workers in Malaysia
Abstract:
AbstractThis research explores the issues that influence
affective commitment among knowledge workers in Malaysia. The determinants
of affective commitment among knowledge workers that have been examined
from the Malaysian knowledge workers' perspective under this study
including compensation, career opportunity, training and development,
supervisor support, job autonomy, work life policies and skill varieties.
A conceptual framework is constructed based on the retention factors and
research hypothesis are then developed in order to focus attention on sets
of factors that influences affective commitment among knowledge workers in
Malaysia. Results of regression analyses revealed that all but supervisor
support and skill variety were significant predictors of affective
commitment among knowledge workers in Malaysia. Recommendations for future
research are presented for industry bodies involved in supporting
retention of knowledge workers in Malaysia.
Journal: Journal of Business Economics and Management
Pages: 903-922
Issue: 5
Volume: 14
Year: 2013
Month: 11
X-DOI: 10.3846/16111699.2012.701226
File-URL: http://hdl.handle.net/10.3846/16111699.2012.701226
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Handle: RePEc:taf:jbemgt:v:14:y:2013:i:5:p:903-922
Template-Type: ReDIF-Article 1.0
Author-Name: Ion Smeureanu
Author-X-Name-First: Ion
Author-X-Name-Last: Smeureanu
Author-Name: Gheorghe Ruxanda
Author-X-Name-First: Gheorghe
Author-X-Name-Last: Ruxanda
Author-Name: Laura Maria Badea
Author-X-Name-First: Laura Maria
Author-X-Name-Last: Badea
Title: Customer segmentation in private banking sector using machine learning techniques
Abstract:
AbstractMachine learning techniques have proven good
performance in classification matters of all kinds: medical diagnosis,
character recognition, credit default and fraud prediction, and also
foreign exchange market prognosis. Customer segmentation in private
banking sector is an important step for profitable business development,
enabling financial institutions to address their products and services to
homogeneous classes of customers. This paper approaches two of the most
popular machine learning techniques, Neural Networks and Support Vector
Machines, and describes how each of these perform in a segmentation
process.
Journal: Journal of Business Economics and Management
Pages: 923-939
Issue: 5
Volume: 14
Year: 2013
Month: 11
X-DOI: 10.3846/16111699.2012.749807
File-URL: http://hdl.handle.net/10.3846/16111699.2012.749807
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Handle: RePEc:taf:jbemgt:v:14:y:2013:i:5:p:923-939
Template-Type: ReDIF-Article 1.0
Author-Name: Willem K. M. Brauers
Author-X-Name-First: Willem K. M.
Author-X-Name-Last: Brauers
Author-Name: Romualdas Ginevičius
Author-X-Name-First: Romualdas
Author-X-Name-Last: Ginevičius
Title: How to invest in Belgian shares by MULTIMOORA optimization
Abstract:
AbstractDifferent multiple objectives expressed in
different units make optimization difficult. Therefore, the internal
mechanical solution of a Ratio System, producing dimensionless numbers, is
preferred to weights, which are most of the time used to compare the
different units. In addition, the ratio system creates the opportunity to
use a second approach: a non-subjective Reference Point Theory. Therefore,
the Reference Point Theory uses the ratios found in the ratio system as
co-ordinates for the alternative solutions, which are then compared to a
Maximal Objective Reference Point. The two approaches form a control on
each other. This overall theory is called MOORA (Multi-Objective
Optimization by Ratio Analysis). The results are still more convincing if
a Full Multiplicative Form is added, three methods assembled under the
name of MULTIMOORA. At that moment, the control by three different
approaches forms a guaranty for a solution being as non-subjective as
possible. As to calculate the sum of three obtained ranks is not allowed,
a theory of Ordinal Dominance is developed in order to remain in the
ordinal sphere.MULTIMOORA is used to decide upon an investment in Belgian
shares on basis of a ranking in the BEL20 Index.
Journal: Journal of Business Economics and Management
Pages: 940-956
Issue: 5
Volume: 14
Year: 2013
Month: 11
X-DOI: 10.3846/16111699.2013.837244
File-URL: http://hdl.handle.net/10.3846/16111699.2013.837244
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Handle: RePEc:taf:jbemgt:v:14:y:2013:i:5:p:940-956
Template-Type: ReDIF-Article 1.0
Author-Name: Abdolreza Yazdani-Chamzini
Author-X-Name-First: Abdolreza
Author-X-Name-Last: Yazdani-Chamzini
Author-Name: Mohammad Majid Fouladgar
Author-X-Name-First: Mohammad Majid
Author-X-Name-Last: Fouladgar
Author-Name: Edmundas Kazimieras Zavadskas
Author-X-Name-First: Edmundas Kazimieras
Author-X-Name-Last: Zavadskas
Author-Name: S. Hamzeh Haji Moini
Author-X-Name-First: S. Hamzeh Haji
Author-X-Name-Last: Moini
Title: Selecting the optimal renewable energy using multi criteria decision making
Abstract:
AbstractRenewable energies are well-known as one of the
most important energy resources not only due to limited other energy
resources, but also due to environmental problems associated with air
pollutants and greenhouse gas emissions. Renewable energy project
selection is a multi actors and sophisticated problem because it is a need
to incorporate social, economic, technological, and environmental
considerations. Multi criteria decision making (MCDM) methods are powerful
tools to evaluate and rank the alternatives among a pool of alternatives
and select the best one. COPRAS (COmplex PRoportional ASsessment) is an
MCDM technique which determines the best alternative by calculating the
ratio to the ideal solution and the negative ideal solution. On the other
hand, analytical hierarchy process (AHP) is widely used in order to
calculate the importance weights of evaluation criteria. In this paper an
integrated COPRAS-AHP methodology is proposed to select the best renewable
energy project. In order to validate the output of the proposed model, the
model is compared with five MCDM tools. The results of this paper
demonstrate the capability and effectiveness of the proposed model in
selecting the most appropriate renewable energy option among the existing
alternatives.
Journal: Journal of Business Economics and Management
Pages: 957-978
Issue: 5
Volume: 14
Year: 2013
Month: 11
X-DOI: 10.3846/16111699.2013.766257
File-URL: http://hdl.handle.net/10.3846/16111699.2013.766257
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Handle: RePEc:taf:jbemgt:v:14:y:2013:i:5:p:957-978
Template-Type: ReDIF-Article 1.0
Author-Name: Rafael Hernandez Barros
Author-X-Name-First: Rafael Hernandez
Author-X-Name-Last: Barros
Author-Name: Ignacio López Domínguez
Author-X-Name-First: Ignacio López
Author-X-Name-Last: Domínguez
Title: Integration strategies for the success of mergers and acquisitions in financial services companies
Abstract:
AbstractThe research shows how managers can plan a
successful integration process following a merger and acquisition.
Presents a series of frameworks which discuss understanding value creation
in mergers and acquisitions, selecting the right strategy and managing the
integration process; drawn largely from research studies and interviews
made to managers with experience in leading integration processes of
financial services companies in Europe, Latin America and USA. Concludes
that, by following the key drivers framework described, managers can turn
the integration process into a successful project, and academics can focus
their post-merger research having into account the opinion of managers.
Journal: Journal of Business Economics and Management
Pages: 979-992
Issue: 5
Volume: 14
Year: 2013
Month: 11
X-DOI: 10.3846/16111699.2013.804875
File-URL: http://hdl.handle.net/10.3846/16111699.2013.804875
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Handle: RePEc:taf:jbemgt:v:14:y:2013:i:5:p:979-992
Template-Type: ReDIF-Article 1.0
Author-Name: Fernando A. F. Ferreira
Author-X-Name-First: Fernando A. F.
Author-X-Name-Last: Ferreira
Author-Name: Sérgio P. Santos
Author-X-Name-First: Sérgio P.
Author-X-Name-Last: Santos
Author-Name: Paulo M. M. Rodrigues
Author-X-Name-First: Paulo M. M.
Author-X-Name-Last: Rodrigues
Author-Name: Ronald W. Spahr
Author-X-Name-First: Ronald W.
Author-X-Name-Last: Spahr
Title: Evaluating retail banking service quality and convenience with MCDA techniques: a case study at the bank branch level
Abstract:
AbstractThe intangibility of banking services makes the
evaluation of service quality and customer convenience difficult to
measure. This paper aims to construct an integrated evaluation system for
retail banking service quality and convenience at the bank branch level by
combining cognitive mapping with measuring attractiveness by a categorical
based evaluation technique. We strive to introduce transparency in the
decision making process and add to the performance literature in retail
banking. Strengths, weaknesses and practical applications of our multiple
criteria evaluation system are also discussed.
Journal: Journal of Business Economics and Management
Pages: 1-21
Issue: 1
Volume: 15
Year: 2014
Month: 2
X-DOI: 10.3846/16111699.2012.673504
File-URL: http://hdl.handle.net/10.3846/16111699.2012.673504
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Handle: RePEc:taf:jbemgt:v:15:y:2014:i:1:p:1-21
Template-Type: ReDIF-Article 1.0
Author-Name: Aleksandras Vytautas Rutkauskas
Author-X-Name-First: Aleksandras Vytautas
Author-X-Name-Last: Rutkauskas
Author-Name: Viktorija Stasytytė
Author-X-Name-First: Viktorija
Author-X-Name-Last: Stasytytė
Author-Name: Nijolė Maknickienė
Author-X-Name-First: Nijolė
Author-X-Name-Last: Maknickienė
Title: Government debt as the integral portfolio of assets and liabilities generated by debt
Abstract:
AbstractThe paper analyses the possibilities of optimal
government (national) debt management, trying to maximize the made-up net
value for the debtor with the help of funds borrowed by the government.
The integral portfolio of debtor assets and debt service liabilities,
based on the borrowed funds, is chosen as a solution for the
above-described problem. In the paper, an asset is understood as a
position of government expenditures, where funds borrowed by the
government are used and create a quantifiable profit (value) or the
measurable damage or loss is avoided if funds are borrowed. Actually,
liabilities are the main debt service positions. Naturally, the value
generated by assets, as well as funds spent to settle the liabilities,
could be analytically adequately evaluated only in stochastic dimension.
Consequently, multidimensional multicriteria stochastic optimization
technique is used as a technical solution to the formulated problem. In
analytical decisions, the budget funds borrowed by the government are
treated as marginal funds. Taking into account a completely new decision
technique that has been invoked for government debt management, the
methods of decisions are described quite particularly.
Journal: Journal of Business Economics and Management
Pages: 22-40
Issue: 1
Volume: 15
Year: 2014
Month: 2
X-DOI: 10.3846/16111699.2013.815129
File-URL: http://hdl.handle.net/10.3846/16111699.2013.815129
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Handle: RePEc:taf:jbemgt:v:15:y:2014:i:1:p:22-40
Template-Type: ReDIF-Article 1.0
Author-Name: Kosta Josifidis
Author-X-Name-First: Kosta
Author-X-Name-Last: Josifidis
Author-Name: Novica Supic
Author-X-Name-First: Novica
Author-X-Name-Last: Supic
Author-Name: Emilija Beker Pucar
Author-X-Name-First: Emilija Beker
Author-X-Name-Last: Pucar
Author-Name: Sladjana Srdic
Author-X-Name-First: Sladjana
Author-X-Name-Last: Srdic
Title: Labour migration flows: EU8+2 vs EU-15
Abstract:
AbstractThe aim of this paper is to determine whether, and
to what extent, the migrations from the EU-8+2 to the EU-15 were motivated
by differences in earnings and productivity and to what extent by
differences in welfare state generosity during the period of the
transitional arrangements. On these grounds, a distinction emerges between
"favourable" and "unfavourable" migrations on one hand and immigration net
winners and losers on the other hand. The obtained results represent an
empirical ground for the discussion on the thesis according to which more
generous welfare state regimes will be more susceptible to the influx of
unfavourable immigrants during the upcoming period of the free movement of
labour, while the less generous welfare state regimes will be a magnet for
the favourable immigration influx within the EU-27.
Journal: Journal of Business Economics and Management
Pages: 41-55
Issue: 1
Volume: 15
Year: 2014
Month: 2
X-DOI: 10.3846/16111699.2013.841283
File-URL: http://hdl.handle.net/10.3846/16111699.2013.841283
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Handle: RePEc:taf:jbemgt:v:15:y:2014:i:1:p:41-55
Template-Type: ReDIF-Article 1.0
Author-Name: Rui Fernandes
Author-X-Name-First: Rui
Author-X-Name-Last: Fernandes
Author-Name: Borges Gouveia
Author-X-Name-First: Borges
Author-X-Name-Last: Gouveia
Author-Name: Carlos Pinho
Author-X-Name-First: Carlos
Author-X-Name-Last: Pinho
Title: Exploring modes of entry into international markets: direct investment or contractual relations
Abstract:
AbstractWe consider the multinational company's decision on
whether to enter a new foreign market using direct investment by
establishing a subsidiary, direct exporting or contracting a local
distributor, with the option to invest later. We develop two models, based
on the real options theory, to support such decisions. The option on
direct exporting or on a local distributor allows the firm to minimize
risks by finding out if the market is large enough to support future
direct investment. We find the direct investment to be the desirable mode
of entry in large markets subject to low demand uncertainty. Overall, the
investigation increases the knowledge related with exploring new markets
subject to demand uncertainty, valuing the flexibility of present and
future options.
Journal: Journal of Business Economics and Management
Pages: 56-73
Issue: 1
Volume: 15
Year: 2014
Month: 2
X-DOI: 10.3846/16111699.2013.809786
File-URL: http://hdl.handle.net/10.3846/16111699.2013.809786
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Handle: RePEc:taf:jbemgt:v:15:y:2014:i:1:p:56-73
Template-Type: ReDIF-Article 1.0
Author-Name: Hui Li
Author-X-Name-First: Hui
Author-X-Name-Last: Li
Author-Name: Wei Song
Author-X-Name-First: Wei
Author-X-Name-Last: Song
Author-Name: Roger Collins
Author-X-Name-First: Roger
Author-X-Name-Last: Collins
Title: Post-event visits as the sources of marketing strategy sustainability: a conceptual model approach
Abstract:
AbstractWhile extant literature has mainly concentrated on
contemporaneous event tourism marketing (i.e., on visiting the city during
or around the event) and on intentions to revisit after the event's
completion, this research investigates the impact of the event on the
decisions of potential tourists/visitors who have never visited the host
city and want to visit it after the event's completion. Research in this
area, especially in those emerging markets where event marketing is
developing rapidly, is limited. In order to address the issues raised, a
conceptual model is proposed. This model is based on a multivariate
research approach, examining the interrelationships between event image,
destination image, participants' perceived satisfaction with the event and
intentions to visit, under the context of non-repeat event marketing. Five
hypotheses postulating these interrelationships were tested using
structural equation modeling. A "non-repeat" event, the National Games,
the biggest traditional sports event in China, was chosen to test this
model. Selfadministered questionnaires were used to collect data relating
to a period of two months after the event's completion. The findings show
that the sustainability of event marketing strategy can be achieved
through the post-event visit to the host city.
Journal: Journal of Business Economics and Management
Pages: 74-95
Issue: 1
Volume: 15
Year: 2014
Month: 2
X-DOI: 10.3846/16111699.2012.701229
File-URL: http://hdl.handle.net/10.3846/16111699.2012.701229
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Handle: RePEc:taf:jbemgt:v:15:y:2014:i:1:p:74-95
Template-Type: ReDIF-Article 1.0
Author-Name: A. Banu Goktan
Author-X-Name-First: A. Banu
Author-X-Name-Last: Goktan
Title: Impact of green management on CEO compensation: interplay of the agency theory and institutional theory perspectives
Abstract:
AbstractThere has been growing interest in green management
practices among practitioners, researchers and regulators in recent years.
However, there is limited research that examines the connection between
natural environments and human resource management practices. The current
study examined the relationship between Chief Executive Officer (CEO)
compensation and green management practices within the agency theory and
institutional theory frameworks. Results revealed a significant negative
relationship between green management practices and CEO base pay, however,
there was not a significant relationship between green management
practices and CEO bonuses. In line with previous agency theory research,
findings suggest a negative relationship between state regulation and CEO
compensation in green states. An important implication for practice is
that the negative relationship may strengthen negative perceptions about
green management practices among CEOs and reduce willingness to implement
green management practices.
Journal: Journal of Business Economics and Management
Pages: 96-110
Issue: 1
Volume: 15
Year: 2014
Month: 2
X-DOI: 10.3846/16111699.2012.711357
File-URL: http://hdl.handle.net/10.3846/16111699.2012.711357
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Handle: RePEc:taf:jbemgt:v:15:y:2014:i:1:p:96-110
Template-Type: ReDIF-Article 1.0
Author-Name: Esmeralda Linares-Navarro
Author-X-Name-First: Esmeralda
Author-X-Name-Last: Linares-Navarro
Author-Name: Torben Pedersen
Author-X-Name-First: Torben
Author-X-Name-Last: Pedersen
Author-Name: José Pla-Barber
Author-X-Name-First: José
Author-X-Name-Last: Pla-Barber
Title: Fine slicing of the value chain and offshoring of essential activities: empirical evidence from European multinationals
Abstract:
AbstractThe offshoring of more advanced activities is
increasing and a debate about the limits of offshoring has emerged.
Companies are fine-slicing their value chains, and moving beyond the
offshoring of peripheral and non-core activities to the offshoring of
advanced and essential activities that
are closer to their core (e.g. research, design and product development).
The challenge is to understand the limits of offshoring and the most
appropriate modes of offshoring. The purpose of this paper is to analyze
what activities are offshorable and how best to govern offshored
activities. We argue that companies are redefining their core activities
and in this process, some essential activities previously viewed as core
activities are being detached from the core, and they become more
offshorable.The study uses a sample of 565 offshoring operations conducted
by 263 multinational companies from 15 European countries. A logistic
regression was used to analyze the relationship between the activities
offshored (non-core versus essential activities) and the offshoring mode
implemented (captive offshoring versus offshore outsourcing). We find that
essential activities are typically offshored using the captive mode, while
offshore outsourcing is commonly used to offshore non-core activities; and
this trend is even more pronounced in knowledge-intensive companies where
interfaces between the various activities are less standardized.This paper
offers managers and CEOs an integrative tool that can make easier
decisions regarding offshoring modes (captive versus offshore outsourcing)
and serves as a reference point for further analyses of the implementation
of offshoring strategies in multinational enterprises.
Journal: Journal of Business Economics and Management
Pages: 111-134
Issue: 1
Volume: 15
Year: 2014
Month: 2
X-DOI: 10.3846/16111699.2012.745817
File-URL: http://hdl.handle.net/10.3846/16111699.2012.745817
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Handle: RePEc:taf:jbemgt:v:15:y:2014:i:1:p:111-134
Template-Type: ReDIF-Article 1.0
Author-Name: Andrius Tamošiūnas
Author-X-Name-First: Andrius
Author-X-Name-Last: Tamošiūnas
Title: The model for evaluation of corporate strategic changes in the context of climate change: plywood manufacture
Abstract:
AbstractThe paper presents the model for evaluation of
corporate management measures aimed at solving tasks related to climate
change challenges (UN 1998; EP 2009; EC 2013) faced by enterprises and
inevitably leading to corporate strategic changes. In a detailed yet
concise manner, the paper analyses the model for evaluation of corporate
strategic changes and specifies techniques for its application focusing on
the following proposed criteria: the market share; financial capacity;
business development potential; product competitiveness; and
productivity.The paper reveals the benefit of the use of the proposed
model for corporate strategic changes. Greater possibilities are created
to rationalise the process of corporate strategic changes and the use as
well as development of human, material and financial potentials, which
lead to greater competitiveness of an enterprise. The model guides to
directions and actions to be taken in order to continue increasing
effectiveness of an enterprise in the context of climate change
objectives.The evaluation model suggested by the author is also analysed
according to flexibility of proposed techniques, the characteristics of
which can be modified and adjusted depending on specifics of the changing
business environment. This allows ensuring and promoting competitiveness
of an enterprise while pursuing the climate change challenges (UN 1998; EP
2009; EC 2013) set for businesses.
Journal: Journal of Business Economics and Management
Pages: 135-152
Issue: 1
Volume: 15
Year: 2014
Month: 2
X-DOI: 10.3846/16111699.2013.801880
File-URL: http://hdl.handle.net/10.3846/16111699.2013.801880
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Handle: RePEc:taf:jbemgt:v:15:y:2014:i:1:p:135-152
Template-Type: ReDIF-Article 1.0
Author-Name: Francisco J. Blancas-Peral
Author-X-Name-First: Francisco J.
Author-X-Name-Last: Blancas-Peral
Author-Name: Ignacio Contreras
Author-X-Name-First: Ignacio
Author-X-Name-Last: Contreras
Author-Name: José M. Ramírez-Hurtado
Author-X-Name-First: José M.
Author-X-Name-Last: Ramírez-Hurtado
Title: Choosing a travel agency franchise by mean of a global composite indicator: an application in Spain
Abstract:
AbstractThis paper highlights the complexity of the
franchise partner selection process from a franchisee's perspective. The
purpose of this article is, firstly, to propose the definition of a system
of indicators which include all the relevant information which the
potential franchisee should take into consideration when choosing a chain
secondly, to obtain a global composite indicator for the construction of a
ranking of franchisors. In order to illustrate the procedure, a sample of
travel agency franchisors in Spain and a suitable database to quantify the
indicators are considered. The paper concludes constructing a complete
order of the franchisors in the travel agency industry. In addition, the
results show the most important characteristics of franchisors that
potential franchisees must take into account. The value of the paper is
significant as it provides a practical frame - work for potential
franchisees in the selection of franchisors.
Journal: Journal of Business Economics and Management
Pages: 153-173
Issue: 1
Volume: 15
Year: 2014
Month: 2
X-DOI: 10.3846/16111699.2012.689259
File-URL: http://hdl.handle.net/10.3846/16111699.2012.689259
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Handle: RePEc:taf:jbemgt:v:15:y:2014:i:1:p:153-173
Template-Type: ReDIF-Article 1.0
Author-Name: Nazli Ayse Ayyildiz Unnu
Author-X-Name-First: Nazli Ayse Ayyildiz
Author-X-Name-Last: Unnu
Author-Name: Julide Kesken
Author-X-Name-First: Julide
Author-X-Name-Last: Kesken
Title: Diagnosing the effects of leader-member exchange quality on performance in the context of organizational culture: a case from Turkish family-owned businesses
Abstract:
AbstractThe main purpose of this study was to diagnose the
effects of leader-member exchange (LMX) quality on performance in the
context of organizational and Turkish culture. The study was conducted in
two family-owned businesses (FOBs), as they are very important structures
in which in-group and out-group
formations can be seen. Firm A (33 employees representing 41 dyads) and
Firm B (61 employees representing 60 dyads) were especially chosen as they
enabled us to apply the coding system leading to
effective evaluation of surveys as the unit of analysis is "dyads". In
this framework, this study offers an important contribution to the
international management literature as positive effects of LMX quality on
firm performance, subordinate performance, intention to leave and job
satisfaction were found within the context of organizational and Turkish
culture. As the proportion of FOBs is almost 95% in Turkey, they represent
Turkish economy and business culture well, leading to more generalizable
results. Thus, firms can lead to increase in both subordinate and firm
performance by creating an organizational culture in which high quality
leader-member relationships are emphasized, finally leading to positive
organizational outcomes.
Journal: Journal of Business Economics and Management
Pages: 174-195
Issue: 1
Volume: 15
Year: 2014
Month: 2
X-DOI: 10.3846/16111699.2011.653983
File-URL: http://hdl.handle.net/10.3846/16111699.2011.653983
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Handle: RePEc:taf:jbemgt:v:15:y:2014:i:1:p:174-195
Template-Type: ReDIF-Article 1.0
Author-Name: Guglielmo Maria Caporale
Author-X-Name-First: Guglielmo Maria
Author-X-Name-Last: Caporale
Author-Name: Marinko Škare
Author-X-Name-First: Marinko
Author-X-Name-Last: Škare
Title: The nexus between prices, employment and output growth: a global and national evidence
Abstract:
AbstractThis paper investigates how output growth,
employment growth and inflation influence each other in the short/long
run. It builds on Phillips (1962) and Blanchard Fischer (1989) assessment
that empirical links between output, employment and prices are central
issue in modern macroeconomics. This paper brings a global perspective on
short and long term links between employment growth, inflation and output
growth using panel cointegration framework with non-stationary
heterogeneous panel (119 countries over 1970-2010). The empirical results
(on global and national level) strongly support the existence of a
long-run equilibrium relationship between output growth, employment growth
and inflation. A central finding is that possible trade-off effects
between growth, employment and prices varies significantly among
economies. Therefore, universal answers to questions Is inflation
good for growth or Is there a trade-off between
employment and growth are not straightforward for general
macroeconomic theory. Each country must design own economic policy
(targeting) taking into account the quantitative relationships between
growth, employment and prices. This has important policy implications also
for price setting policies, cost management, market strategy and risk
management through productivity-demand disturbances effects on the
business environment.
Journal: Journal of Business Economics and Management
Pages: 197-211
Issue: 2
Volume: 15
Year: 2014
Month: 4
X-DOI: 10.3846/16111699.2014.900820
File-URL: http://hdl.handle.net/10.3846/16111699.2014.900820
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Handle: RePEc:taf:jbemgt:v:15:y:2014:i:2:p:197-211
Template-Type: ReDIF-Article 1.0
Author-Name: Hong Long Chen
Author-X-Name-First: Hong Long
Author-X-Name-Last: Chen
Title: Innovation stimulants, innovation capacity, and the performance of capital projects
Abstract:
AbstractAbstract. Identifying the critical determinants of
innovation performance is crucial. However, few studies explore and
quantify systematically the relationships between innovation factors and
the performance of capital projects. This study of 121 capital projects
shows that the relationships among project innovation stimulants,
innovation capacity, and project performance are indeed significant.
Hierarchical robust regression analyses using a maximum R-square
improvement procedure show that technology management has the highest
effect on the variation in our project performance data. Validating
out-of-sample data demonstrates that our optimal model explains 34.42% of
the variation in the performance of capital projects. Ultimately, our
findings suggest that project human factors are essential stimulants in
innovation performance, which in turn affect the performance of capital
projects. Our findings also reveal that the stimulant factors do not have
a direct impact on capital project performance, but rather have an
indirect impact via project innovation capacity.
Journal: Journal of Business Economics and Management
Pages: 212-231
Issue: 2
Volume: 15
Year: 2014
Month: 4
X-DOI: 10.3846/16111699.2012.711361
File-URL: http://hdl.handle.net/10.3846/16111699.2012.711361
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Handle: RePEc:taf:jbemgt:v:15:y:2014:i:2:p:212-231
Template-Type: ReDIF-Article 1.0
Author-Name: Violeta Keršulienė
Author-X-Name-First: Violeta
Author-X-Name-Last: Keršulienė
Author-Name: Zenonas Turskis
Author-X-Name-First: Zenonas
Author-X-Name-Last: Turskis
Title: A hybrid linguistic fuzzy multiple criteria group selection of a chief accounting officer
Abstract:
AbstractIn the preceding decade, economic and social costs
brought by financial statement fraud have shaken markets, devastated
investment portfolios and reduced confidence in financial reporting. A
financial department is special in the way it needs to conform to
standards. Many individual attributes considered for the selection of a
chief accounting officer, such as organisational skills, personality,
leadership etc. This paper focuses on a fuzzy multi-criteria decision
making (MCDM) algorithm, which integrates the principles of fusion of
fuzzy information, additive ratio assessment method with fuzzy numbers
(ARAS-F), fuzzy weighted-product model and analytic hierarchy process
(AHP). The proposed method is apt to manage information assessed using
both linguistic and numerical scales in a decision making problem with a
group of information sources. The computational procedure is illustrated
through the problem related to the selection of a chief accounting
officer.
Journal: Journal of Business Economics and Management
Pages: 232-252
Issue: 2
Volume: 15
Year: 2014
Month: 4
X-DOI: 10.3846/16111699.2014.903201
File-URL: http://hdl.handle.net/10.3846/16111699.2014.903201
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Handle: RePEc:taf:jbemgt:v:15:y:2014:i:2:p:232-252
Template-Type: ReDIF-Article 1.0
Author-Name: Antonio Trujillo-Ponce
Author-X-Name-First: Antonio
Author-X-Name-Last: Trujillo-Ponce
Author-Name: Reyes Samaniego-Medina
Author-X-Name-First: Reyes
Author-X-Name-Last: Samaniego-Medina
Author-Name: Clara Cardone-Riportella
Author-X-Name-First: Clara
Author-X-Name-Last: Cardone-Riportella
Title: Examining what best explains corporate credit risk: accounting-based versus market-based models
Abstract:
AbstractThis paper uses a sample of 2,186 credit default
swap spreads quoted in the European market during the period 2002-2009 to
empirically analyze which model - accounting- or market-based - better
explains corporate credit risk. We find little difference in the
explanatory power of these two approaches. Our results indicate that a
comprehensive model that combines accounting- and market-based variables
is the best option to explain the credit risk, suggesting that both types
of data are complementary. We also demonstrate that the explanatory power
of credit risk models is particularly strong during periods of high
uncertainty, such as those experienced in the recent financial crisis.
Finally, the comprehensive model continues to produce the best results if
the credit rating is used as the proxy for credit risk; however,
accounting variables currently appear to have a more important role than
market variables in determining corporate credit ratings.
Journal: Journal of Business Economics and Management
Pages: 253-276
Issue: 2
Volume: 15
Year: 2014
Month: 4
X-DOI: 10.3846/16111699.2012.720598
File-URL: http://hdl.handle.net/10.3846/16111699.2012.720598
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Handle: RePEc:taf:jbemgt:v:15:y:2014:i:2:p:253-276
Template-Type: ReDIF-Article 1.0
Author-Name: Guiwu Wei
Author-X-Name-First: Guiwu
Author-X-Name-Last: Wei
Author-Name: Rui Lin
Author-X-Name-First: Rui
Author-X-Name-Last: Lin
Author-Name: Xiaofei Zhao
Author-X-Name-First: Xiaofei
Author-X-Name-Last: Zhao
Author-Name: Hongjun Wang
Author-X-Name-First: Hongjun
Author-X-Name-Last: Wang
Title: An approach to multiple attribute decision making based on the induced Choquet integral with fuzzy number intuitionistic fuzzy information
Abstract:
AbstractIn this paper, we investigate the multiple
attribute decision making problems with fuzzy number intuitionistic fuzzy
information. Firstly, some operational laws of fuzzy number intuitionistic
fuzzy values, score function and accuracy function of fuzzy number
intuitionistic fuzzy values are introduced. Then, we have developed two
fuzzy number intuitionistic fuzzy Choquet integral aggregation operators:
induced fuzzy number intuitionistic fuzzy choquet ordered averaging
(IFNIFCOA) operator and induced fuzzy number intuitionistic fuzzy choquet
ordered geometric (IFNIFCOG) operator. The prominent characteristic of the
operators is that they can not only consider the importance of the
elements or their ordered positions, but also reflect the correlation
among the elements or their ordered positions. We have studied some
desirable properties of the IFNIFCOA and IFNIFCOG operators, such as
commutativity, idempotency and monotonicity, and applied the IFNIFCOA and
IFNIFCOGM operators to multiple attribute decision making with fuzzy
number intuitionistic fuzzy information. Finally an illustrative example
has been given to show the developed method.
Journal: Journal of Business Economics and Management
Pages: 277-298
Issue: 2
Volume: 15
Year: 2014
Month: 4
X-DOI: 10.3846/16111699.2012.707984
File-URL: http://hdl.handle.net/10.3846/16111699.2012.707984
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Handle: RePEc:taf:jbemgt:v:15:y:2014:i:2:p:277-298
Template-Type: ReDIF-Article 1.0
Author-Name: Algirdas Krivka
Author-X-Name-First: Algirdas
Author-X-Name-Last: Krivka
Title: Complex evaluation of the economic crisis impact on Lithuanian industries
Abstract:
AbstractThe paper analyses the impact of the economic
crisis of 2008 on Lithuanian industries. The research involves 68
industries identified according to the 2nd-digit level classification of
economic activities by Statistics Lithuania. Considering industry to be a
complex phenomenon, the crisis effect is evaluated complexly on the basis
of the system of 10 financial state and performance indicators belonging
to four main groups of enterprise financial ratios: profitability,
liquidity, solvency and asset turnover. SAW, TOPSIS and VIKOR
multi-criteria decision making methods, widely applied in construction,
economics and management, are selected as mathematical tools for
quantitative assessment of the economic crisis effect on Lithuanian
industries. By applying multi-criteria decision making methods relative
positions (ranks) of industries are determined for every year of the
period of 2006-2011. The ranks and their changes are further analysed
distinguishing pre-crisis, crisis, and post-crisis periods, determining
the industries most and least affected by the economic crisis; also, the
industries characterised by the fastest and the slowest after-crisis
recovery.
Journal: Journal of Business Economics and Management
Pages: 299-315
Issue: 2
Volume: 15
Year: 2014
Month: 4
X-DOI: 10.3846/16111699.2013.867277
File-URL: http://hdl.handle.net/10.3846/16111699.2013.867277
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Handle: RePEc:taf:jbemgt:v:15:y:2014:i:2:p:299-315
Template-Type: ReDIF-Article 1.0
Author-Name: Scott K. Weaven
Author-X-Name-First: Scott K.
Author-X-Name-Last: Weaven
Author-Name: Debra A. Grace
Author-X-Name-First: Debra A.
Author-X-Name-Last: Grace
Author-Name: Lorelle Frazer
Author-X-Name-First: Lorelle
Author-X-Name-Last: Frazer
Author-Name: Jeffery Giddings
Author-X-Name-First: Jeffery
Author-X-Name-Last: Giddings
Title: Processual antecedents of perceived channel conflict in franchising
Abstract:
AbstractIn this study, we develop and examine the network
of relationships explaining perceived conflict in franchise relationships
from a franchisee perspective. Our research contributes to the current
knowledge of asymmetric exchange relationships through demonstrating the
importance of a franchisee's expectations confirmation, relational trust
and relationship satisfaction in franchisee assessments of network
conflict. The goal of this paper is to empirically examine (1) the
relationship between franchisee perceptions of information quality
(information dissemination and information search) and the confirmation of
franchisee performance expectations, (2) franchisee characterizations of
their relationships with their franchisors in terms of relational
sentiments such as trust and relational satisfaction, communication and
conflict management, (3) the relationship between franchisee satisfaction
and perceived conflict, and (4) the moderating effect of franchisee
experience on the relationship between franchisee satisfaction and
franchisee perceptions of conflict. Empirical results, utilizing a sample
of 345 franchisees in Australia, present strong evidence for the support
of nine of the ten hypotheses drawn from the conceptual model.
Specifically, data reveal that in an effort to cultivate a network of
cooperative and satisfied franchisees, franchisors should adopt strategies
that promote the timely dissemination of relevant and meaningful pre- and
post-entry information, open communication exchange, transparent conflict
management systems and personalized support in accommodating individual
franchisee needs.
Journal: Journal of Business Economics and Management
Pages: 316-334
Issue: 2
Volume: 15
Year: 2014
Month: 4
X-DOI: 10.3846/16111699.2012.711362
File-URL: http://hdl.handle.net/10.3846/16111699.2012.711362
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Handle: RePEc:taf:jbemgt:v:15:y:2014:i:2:p:316-334
Template-Type: ReDIF-Article 1.0
Author-Name: Anna Maria Ferragina
Author-X-Name-First: Anna Maria
Author-X-Name-Last: Ferragina
Author-Name: Rosanna Pittiglio
Author-X-Name-First: Rosanna
Author-X-Name-Last: Pittiglio
Author-Name: Filippo Reganati
Author-X-Name-First: Filippo
Author-X-Name-Last: Reganati
Title: Does multinational ownership affect firm survival in Italy?
Abstract:
AbstractThe aim of this paper is to investigate whether and
how multinational status and foreign ownership affect the survival of
Italian manufacturing and service firms. To this end, we analyze firm
survival by distinguishing Italian firms as foreign multinationals (FMNEs)
domestic multinationals (DMNEs) or domestic non-multinational firms
(NMNEs). The empirical analysis is based on the Kaplan-Meier survival
estimator and on the Cox proportional hazard model, in which we look for
the impact of ownership dummies on firm survival, controlling for several
firm and industry specific covariates. Our findings reveal that
manufacturing and service firms owned by foreign multinationals are more
likely to exit the market than either DMNEs or NMNEs. Moreover, DMNEs show
a higher chance of survival in services. By decomposing firm activities
into different technological classes, we also find that foreign ownership
still exerts a negative influence on firm survival in both static and
dynamic industries, while domestic multinationals in
less-knowledge-intensive services appear more persistent.
Journal: Journal of Business Economics and Management
Pages: 335-355
Issue: 2
Volume: 15
Year: 2014
Month: 4
X-DOI: 10.3846/16111699.2012.707622
File-URL: http://hdl.handle.net/10.3846/16111699.2012.707622
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Handle: RePEc:taf:jbemgt:v:15:y:2014:i:2:p:335-355
Template-Type: ReDIF-Article 1.0
Author-Name: Dikcius
Author-X-Name-First:
Author-X-Name-Last: Dikcius
Author-Name: Kristina Katkuviene
Author-X-Name-First: Kristina
Author-X-Name-Last: Katkuviene
Title: Perception of odd prices in a Post-Soviet country: an impact of the ideology of planned economy
Abstract:
AbstractThis empirical paper analyzes the perception of odd
prices in a Post-Soviet country. Two different streams of perception of
odd prices are developed - a level effect and an image effect. The paper
focuses on the latter effect. The authors analyze the perception of odd
prices in different categories of products - convenience goods, clothes
and domestic appliances. In addition, four different levels of a price
were used in order to measure the perception of a price having various
price levels. The results showed that Lithuanians have a different
attitude about odd prices compared with the research in developed
countries. At the same time the survey showed that the respondents'
experience related to odd prices fits the results of the research from
developed countries. Moreover, the participants of the survey intuitively
perceived odd prices as something negative and associated odd prices with
cheating in the case of convenience products, or with discounted products
in the case of shopping goods. This research demonstrates that companies
should not practice nine-ending pricing widely since the respondents
associated odd prices were preferred more in the case of cheap products
(up to 10 LTL) than expensive products, and odd prices were related with
discounted products in the case of shopping goods.
Journal: Journal of Business Economics and Management
Pages: 356-368
Issue: 2
Volume: 15
Year: 2014
Month: 4
X-DOI: 10.3846/16111699.2013.833545
File-URL: http://hdl.handle.net/10.3846/16111699.2013.833545
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Handle: RePEc:taf:jbemgt:v:15:y:2014:i:2:p:356-368
Template-Type: ReDIF-Article 1.0
Author-Name: Fariss-Terry Mousa
Author-X-Name-First: Fariss-Terry
Author-X-Name-Last: Mousa
Author-Name: Jaideep Chowdhury
Author-X-Name-First: Jaideep
Author-X-Name-Last: Chowdhury
Title: Organizational slack effects on innovation: the moderating roles of CEO tenure and compensation
Abstract:
AbstractThis study draws on upper echelons theory, the
resource based view, and Penrose's theory of firm growth to show that
slack resources, specifically financial and human slack, are essential to
the research and development (R&D) strategies of organizations. We also
suggest that both Chief Executive Officer (CEO) tenure and CEO
compensation positively moderate the slack-innovation relationship.The
empirical design compromised of panel regression analysis. We tested our
hypotheses using all US publicly traded firms between 1993 and 2011.The
research results show that firms with excess financial resources are more
likely to have higher R&D investments, and to completely understand this
relationship we must study CEO tenure and compensation.This study sheds
light on central antecedents of firm innovation, it further extends our
understanding by investigating the impact of CEO tenure and compensation
on the slackinnovation relationship, and it applies a longitudinal design
which answers previous calls to investigate this topic in more depth by
offering enhanced stability to the results while allowing for different
economic scenarios.
Journal: Journal of Business Economics and Management
Pages: 369-383
Issue: 2
Volume: 15
Year: 2014
Month: 4
X-DOI: 10.3846/16111699.2013.839476
File-URL: http://hdl.handle.net/10.3846/16111699.2013.839476
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Handle: RePEc:taf:jbemgt:v:15:y:2014:i:2:p:369-383
Template-Type: ReDIF-Article 1.0
Author-Name: Ijaz Hussain
Author-X-Name-First: Ijaz
Author-X-Name-Last: Hussain
Title: Banking industry concentration and net interest margins (NIMs) in Pakistan
Abstract:
AbstractThis paper uses bank level data of 26 commercial
banks for the period 2001-2010 to explore determinants of net interest
margins of commercial banks of Pakistan. Based on results of this study,
past net interest margins, bank soundness, operating cost, industry
concentration, relative market share, inflation, real depreciation and
industrial growth have statistically significant and positive impact while
diversification, change in bank size, lagged liquidity, stock market
development have dampening effects on net interest margins. However,
impact of ownership, GDP and credit market development is statistically
insignificant.Our regression results suggest that stock market development
as means of alternative source of finance contributes to reduction in net
interest margins while the impact of banking sector development on
breaking banking cartels and bringing net interest margins down had been
insignificant. Exchange rate adjustments, rate of inflation and growth of
the industry also cannot be ignored in management of net interest margins.
Incentives for bank executives and managers to ensure efficiency in
operating costs, reduction in the premium charged for bank soundness,
diversification of bank activities and passing on the scale efficiencies
to both depositors and borrowers can also play role to bring interest
margins down to accelerate investment and growth in the country.
Journal: Journal of Business Economics and Management
Pages: 384-402
Issue: 2
Volume: 15
Year: 2014
Month: 4
X-DOI: 10.3846/16111699.2012.732105
File-URL: http://hdl.handle.net/10.3846/16111699.2012.732105
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Handle: RePEc:taf:jbemgt:v:15:y:2014:i:2:p:384-402
Template-Type: ReDIF-Article 1.0
Author-Name: Mahmoud Zamani
Author-X-Name-First: Mahmoud
Author-X-Name-Last: Zamani
Author-Name: Arefeh Rabbani
Author-X-Name-First: Arefeh
Author-X-Name-Last: Rabbani
Author-Name: Abdolreza Yazdani-Chamzini
Author-X-Name-First: Abdolreza
Author-X-Name-Last: Yazdani-Chamzini
Author-Name: Zenonas Turskis
Author-X-Name-First: Zenonas
Author-X-Name-Last: Turskis
Title: An integrated model for extending brand based on fuzzy ARAS and ANP methods
Abstract:
Brand extension is
one of the most popular strategies in marketing. This is due to the fact
that consumers usually take into account the brand first because it
indirectly reflects the design, quality, and functions. According to the
significant role of brand in creating benefit and diminishing risk for a
new product, this study intended to develop a novel model for selecting
the most appropriate strategy in brand extension. However, there are a
number of criteria influencing the possible strategies, and they often are
interdependent. Therefore, a multi-criteria decision making model based on
Analytic Network Process and Additive Ratio Assessment methods has been
developed to systematically clarify the interdependent relationships among
the evaluation criteria of brand extension and then, scientifically
evaluate the feasible strategies and rank the priorities of brand
extension strategies. The results of the proposed model show that
"Production cost" is the most important factor, followed by "Quality of
parent brand" and "Perceived risk" while "Ice cream" is the highest
satisfaction of brand extension.
Journal: Journal of Business Economics and Management
Pages: 403-423
Issue: 3
Volume: 15
Year: 2014
Month: 6
X-DOI: 10.3846/16111699.2014.923929
File-URL: http://hdl.handle.net/10.3846/16111699.2014.923929
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Handle: RePEc:taf:jbemgt:v:15:y:2014:i:3:p:403-423
Template-Type: ReDIF-Article 1.0
Author-Name: Anita Ceric
Author-X-Name-First: Anita
Author-X-Name-Last: Ceric
Title: Strategies for minimizing information asymmetries in construction projects: project managers' perceptions
Abstract:
Communication risk
is of crucial importance in construction projects. The situation in which
one of the project parties is better informed than another is known as
information asymmetry. This problem is addressed by the principal-agent
theory. According to this theory, information asymmetries cause three
problems: adverse selection, moral hazard, and hold up. The focus here is
on strategies for minimizing information asymmetries in the construction
phase. A survey of project managers was conducted to establish an
understanding of the relative importance of risk-minimization strategies
established in the literature: bureaucratic control (contracts),
information systems, incentives (bonuses), corporate culture, reputation,
and trust. The multi-attribute utility theory was used to analyze the
responses. According to the project managers who participated in the
survey, trust is the most important strategy in the construction phase,
followed by bureaucratic control (contracts) and information systems.
Journal: Journal of Business Economics and Management
Pages: 424-440
Issue: 3
Volume: 15
Year: 2014
Month: 6
X-DOI: 10.3846/16111699.2012.720601
File-URL: http://hdl.handle.net/10.3846/16111699.2012.720601
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Handle: RePEc:taf:jbemgt:v:15:y:2014:i:3:p:424-440
Template-Type: ReDIF-Article 1.0
Author-Name: Dar-Hsin Chen
Author-X-Name-First: Dar-Hsin
Author-X-Name-Last: Chen
Author-Name: Chun-Da Chen
Author-X-Name-First: Chun-Da
Author-X-Name-Last: Chen
Author-Name: Su-Chen Wu
Author-X-Name-First: Su-Chen
Author-X-Name-Last: Wu
Title: VaR and the cross-section of expected stock returns: an emerging market evidence
Abstract:
In this paper we
investigate the explanatory power of the market beta, firm size, and the
book-to-market ratio, as well as Value-at-Risk regarding the
cross-sectional expected stock returns in a less developed stock market -
Taiwan's stock market. The main purpose is to examine whether the
Value-at-Risk factor has marginal explanatory power related to the
Fama-French three-factor model. The empirical results show that
Value-at-Risk can account for the average stock returns at both 1% and 5%
significance levels based on cross-sectional regression analysis.
Moreover, from the perspective of the time series regression, the
Value-at-Risk factor can also demonstrate the variation of the stock
market, especially for the larger companies in the Taiwan stock market.
Journal: Journal of Business Economics and Management
Pages: 441-459
Issue: 3
Volume: 15
Year: 2014
Month: 6
X-DOI: 10.3846/16111699.2012.744343
File-URL: http://hdl.handle.net/10.3846/16111699.2012.744343
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Handle: RePEc:taf:jbemgt:v:15:y:2014:i:3:p:441-459
Template-Type: ReDIF-Article 1.0
Author-Name: Hannan Amoozad Mahdiraji
Author-X-Name-First: Hannan Amoozad
Author-X-Name-Last: Mahdiraji
Author-Name: Kannan Govindan
Author-X-Name-First: Kannan
Author-X-Name-Last: Govindan
Author-Name: Edmundas Kazimieras Zavadskas
Author-X-Name-First: Edmundas Kazimieras
Author-X-Name-Last: Zavadskas
Author-Name: Seyed Hossein Razavi Hajiagha
Author-X-Name-First: Seyed Hossein
Author-X-Name-Last: Razavi Hajiagha
Title: Coalition or decentralization: a game-theoretic analysis of a three-echelon supply chain network
Abstract:
Supply chains have
become the major and dominant paradigm of business and competition. The
main challenge is how to act in multi-echelon supply chains considering
the levels involved. Making a choice independently or integrating with
some or all levels will be a critical decision, and therefore affects the
overall profit of the chain. This article proposes a non-cooperative game
theory approach to helping in making a better decision in the supply chain
and gaining the most accessible benefit. Our research considers unlimited
three-echelon supply chains with S suppliers, M manufacturers and K
retailers. The Nash equilibrium and definition are used bearing in mind
inventory and pricing and marketing cost as decision variables for this
matter. This paper studies a three-echelon supply chain network and
focuses on the value of integrating a pair of partners in the chain. In
the decentralized case, the supplier sets its own price, the manufacturer
points out order quantity, wholesale price and backorder quantity, and the
retailer charges the final retail price of the product and marketing
product. Though there are multiple players at a single echelon level, each
manufacturer supplies only a specific product to a given retailer. In
addition to the decentralized case, two integration scenarios have been
taken into account: manufacturer-retailer and supplier-manufacturer. As
for manufacturer-retailer integration, inventory/holding cost issues
diminish to a single warehouse and the retailer does not have to enforce
marketing effort any more. Supplier-manufacturer integration brings
similar benefits. Under each scenario, all parties involved simultaneously
set their strategies. Through a numerical experiment, 17 design cases
(through designing experiments) have been developed and the total profit
of the supply chain under each scenario has been evaluated. Statistical
tests on the above introduced 17 experiments have found that the
decentralized system performs significantly worse than the integration of
the supplier with the manufacturer, whereas no significant difference can
be observed regarding other combinations.
Journal: Journal of Business Economics and Management
Pages: 460-485
Issue: 3
Volume: 15
Year: 2014
Month: 6
X-DOI: 10.3846/16111699.2014.926289
File-URL: http://hdl.handle.net/10.3846/16111699.2014.926289
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Handle: RePEc:taf:jbemgt:v:15:y:2014:i:3:p:460-485
Template-Type: ReDIF-Article 1.0
Author-Name: Jurriën J. Bakker
Author-X-Name-First: Jurriën J.
Author-X-Name-Last: Bakker
Author-Name: Oscar Afonso
Author-X-Name-First: Oscar
Author-X-Name-Last: Afonso
Author-Name: Sandra T. Silva
Author-X-Name-First: Sandra T.
Author-X-Name-Last: Silva
Title: The effects of autocatalytic trade cycles on economic growth
Abstract:
This paper shows
that autocatalytic trade cycles can be a positive feedback system for
innovation and thus for economic growth. Using United Nations data, a
trade network is proposed and a set of variables that represent the
participation of countries in autocatalytic trade cycles is constructed. A
clear relationship between these variables and economic growth is found
since more innovation is produced in countries that are part of trade
cycles. However, the relationship changes with autocatalytic trade cycle
sizes, categories of goods and time scales. Moreover, autocatalytic trade
cycles also have a positive effect for the trade flows involved, although
this effect differs significantly depending on the size of the cycles.
This new approach based on autocatalytic trade cycles emphasizes the
benefits that countries can extract from trade cycles and points out the
need of policies that foster these benefits. These conclusions strengthen
existing literature, and also add new insights to innovation policy and
the pursuit of economic prosperity.
Journal: Journal of Business Economics and Management
Pages: 486-508
Issue: 3
Volume: 15
Year: 2014
Month: 6
X-DOI: 10.3846/16111699.2012.720596
File-URL: http://hdl.handle.net/10.3846/16111699.2012.720596
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Handle: RePEc:taf:jbemgt:v:15:y:2014:i:3:p:486-508
Template-Type: ReDIF-Article 1.0
Author-Name: Li-Chang Hsu
Author-X-Name-First: Li-Chang
Author-X-Name-Last: Hsu
Title: A hybrid multiple criteria decision-making model for investment decision making
Abstract:
Investments are
accompanied by risks. How investors choose the right investment tools to
assist in the selection of investment targets is a topic worth exploring.
Therefore, this study aimed to develop an investment decision-making
process to deal with this issue. Firstly, we proposed a globalized
modified grey relational analysis to select the representative indicators
including the financial indicators and risk measurement indicators. Then
we combined financial and risk evaluation indicators, and divided
companies into low, moderate and high-risk groups through the grey
clustering analysis. Finally, Vlse Kriterijumska Optimizacija Kompromisno
Resenje (VIKOR) combined with the grey entropy weighting method was
applied to business performance evaluation and sorting of each grouping.
In order to verify this study, a combination of 21 financial ratios and
four risk indicators was utilized in order to verify the evaluation and
decision-making process in the operating performance of 62 listed
opto-electronics companies in Taiwan. The results of ranking the operating
performance for each group can be made available to company managers as a
reference in order to enhance competitiveness and business performance.
The results can also be used as the basis for decision-making to aid
investors who are facing many investment portfolios.
Journal: Journal of Business Economics and Management
Pages: 509-529
Issue: 3
Volume: 15
Year: 2014
Month: 6
X-DOI: 10.3846/16111699.2012.722563
File-URL: http://hdl.handle.net/10.3846/16111699.2012.722563
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Handle: RePEc:taf:jbemgt:v:15:y:2014:i:3:p:509-529
Template-Type: ReDIF-Article 1.0
Author-Name: Annelies Roggeman
Author-X-Name-First: Annelies
Author-X-Name-Last: Roggeman
Author-Name: Isabelle Verleyen
Author-X-Name-First: Isabelle
Author-X-Name-Last: Verleyen
Author-Name: Philippe Van Cauwenberge
Author-X-Name-First: Philippe
Author-X-Name-Last: Van Cauwenberge
Author-Name: Carine Coppens
Author-X-Name-First: Carine
Author-X-Name-Last: Coppens
Title: Impact of a Common Corporate Tax Base on the effective tax burden in Belgium
Abstract:
In March 2011, the
European Commission launched a proposal for a Common Consolidated
Corporate Tax Base (CCCTB). However, a Common Corporate Tax Base (CCTB),
leaving consolidation and apportionment out of consideration, appears to
be a more realistic proposition for corporate tax harmonization in Europe.
Using the European Tax Analyzer (ETA), we simulate the impact of the CCTB
on the effective tax burden in Belgium. The results show that the adoption
of the CCTB increases the Belgian effective tax burden by 16%. This
remarkable increase is mainly driven by the fact that national tax
deductions are not allowed under CCTB. This study allows policymakers to
gain insight into the size effects of certain corporate tax measures and
contributes to the current discussion on corporate tax harmonization in
Europe.
Journal: Journal of Business Economics and Management
Pages: 530-543
Issue: 3
Volume: 15
Year: 2014
Month: 6
X-DOI: 10.3846/16111699.2013.807869
File-URL: http://hdl.handle.net/10.3846/16111699.2013.807869
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Handle: RePEc:taf:jbemgt:v:15:y:2014:i:3:p:530-543
Template-Type: ReDIF-Article 1.0
Author-Name: Li Cai
Author-X-Name-First: Li
Author-X-Name-Last: Cai
Author-Name: Qing Liu
Author-X-Name-First: Qing
Author-X-Name-Last: Liu
Author-Name: Shengliang Deng
Author-X-Name-First: Shengliang
Author-X-Name-Last: Deng
Author-Name: Dan Cao
Author-X-Name-First: Dan
Author-X-Name-Last: Cao
Title: Entrepreneurial orientation and external technology acquisition: an empirical test on performance of technology-based new ventures
Abstract:
This research
investigates the effects of entrepreneurial orientation and external
technology acquisition on the performance of technology-based new ventures
in the context of a transitional economy. An analysis of the
cross-sectional data from 123 Chinese technology-based new ventures was
conducted. The results of the analysis support the contention that both
the acquisition of external technology and entrepreneurial orientation
improve new ventures' performance. Additionally, the interaction of
entrepreneurial orientation and external technology acquisition positively
moderates the relationship between entrepreneurial orientation and
performance of technology-based new ventures. Overall, this study
contributes to our enhanced understanding of the complex relationship
among entrepreneurial orientation, external technology acquisition and
firm performance under transitional economic conditions. Firms from
emerging economies, especially technologybased new ventures, may find the
study findings useful in guiding their decision on external technology
acquisition.
Journal: Journal of Business Economics and Management
Pages: 544-561
Issue: 3
Volume: 15
Year: 2014
Month: 6
X-DOI: 10.3846/16111699.2013.770786
File-URL: http://hdl.handle.net/10.3846/16111699.2013.770786
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Handle: RePEc:taf:jbemgt:v:15:y:2014:i:3:p:544-561
Template-Type: ReDIF-Article 1.0
Author-Name: Ana María García-Pérez
Author-X-Name-First: Ana María
Author-X-Name-Last: García-Pérez
Author-Name: Vanessa Yanes-Estévez
Author-X-Name-First: Vanessa
Author-X-Name-Last: Yanes-Estévez
Author-Name: Juan Ramón Oreja-Rodríguez
Author-X-Name-First: Juan Ramón
Author-X-Name-Last: Oreja-Rodríguez
Title: Strategic reference points, risk and strategic choices in small and medium-sized enterprises
Abstract:
This article
presents a realistic view of the strategic process in small and
medium-sized enterprises (SMEs). The study integrates prospect theory and
strategic reference point theory: strategic choices depend on how the
decision maker perceives the situation in relation to the reference and
the risk being taken. Applying Rasch models to a sample of firms in the
Canary Islands (Spain), the results show that SMEs that are more
influenced by external references take higher risks. These enterprises
differ in their strategic choices from those that do not focus on external
references in the greater importance they attach to market
diversification. This study is pioneer in considering the internal and
external dimension of references that SME managers have in mind and
linking them, via prospect theory (Kahneman, Tversky 1979), to the risk
they take in their strategic choices. It also has the added value of
applying Rasch Measurement Theory.For managers, the study of the SRPs
shows a large number of enterprises with a more internal than external
view. Thus, the need for rethinking their SRPs and for designing a greater
market orientation of firms in the service sector is worth
highlighting.There are also important implications for the public
administration and institutions. They should emphasize the promotion of
cooperation among enterprises to increase their external orientation and
then, the importance of external SRPs. Training, financial and
organizational support could be some of the strategies that ought to be
implemented.
Journal: Journal of Business Economics and Management
Pages: 562-576
Issue: 3
Volume: 15
Year: 2014
Month: 6
X-DOI: 10.3846/16111699.2012.720594
File-URL: http://hdl.handle.net/10.3846/16111699.2012.720594
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Handle: RePEc:taf:jbemgt:v:15:y:2014:i:3:p:562-576
Template-Type: ReDIF-Article 1.0
Author-Name: Abul Quasem Al-Amin
Author-X-Name-First: Abul Quasem
Author-X-Name-Last: Al-Amin
Author-Name: Abdul Hamid Jaafar
Author-X-Name-First: Abdul Hamid
Author-X-Name-Last: Jaafar
Title: An alternative approach to identify key industries: issues to selection criteria
Abstract:
Within a process of
modeling exercise, this study aimed to understand appropriate selection
criteria to identify key industries. There are many key sector
identification linkage measures in the subject matter and sensitivity
issue among them can be tricky because many of these measures differ only
slightly but can result in outcomes that are quite dissimilar. With this
background, we proposed an alternate approach that helps to resolve this
issue. The proposed approach utilizes in this study by five sub-methods
and high degree of the frequency of their occurrences in sub-methods to
determine the key sectors. The study approach is applied to Malaysia as
the public sector investment remains a large share in the national
economy, like other developing countries, and the correct identification
is still a challenge for sectoral planning. The experiences from this
study can be used to guide appropriate public investment in Malaysia and
elsewhere with similar economic forms.
Journal: Journal of Business Economics and Management
Pages: 577-598
Issue: 3
Volume: 15
Year: 2014
Month: 6
X-DOI: 10.3846/16111699.2012.734327
File-URL: http://hdl.handle.net/10.3846/16111699.2012.734327
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Handle: RePEc:taf:jbemgt:v:15:y:2014:i:3:p:577-598
Template-Type: ReDIF-Article 1.0
Author-Name: Marija Radosavljevic
Author-X-Name-First: Marija
Author-X-Name-Last: Radosavljevic
Title: Assessment of process management maturity in developing countries based on SAW method
Abstract:
Business process management is a comprehensive, holistic management
approach, aligned with the context that proceeds from globalized economy.
The extent to which this approach is present in an organization represents
its process management maturity. Process management maturity has drawn
attention of authors and, consequently, a lot of maturity models have
appeared. These models incorporate elements, which determine the level of
organizations' maturity. Earlier research results indicate that those
elements are mutually related and responsible for organizations'
performances. Since those results mostly refer to developed countries, the
question is whether conclusions that proceed from them are valid for
developing countries too. In order to answer this question, research has
been conducted in Serbia. The aim of the research is to discover which
maturity model elements represent the weak points of business process
management in Serbian organizations, but also to evaluate the dependence
of organizations' performances on process management maturity level. The
analysis is based on statistics tools and Simple Additive Weight (SAW)
method. Research results indicate that the maturity level of the Serbian
economy is not enviable. In addition, results suggest that business
performances might be connected to process management maturity, in the
sense that higher maturity level means higher performances.
Journal: Journal of Business Economics and Management
Pages: 599-614
Issue: 4
Volume: 15
Year: 2014
Month: 9
X-DOI: 10.3846/16111699.2013.815131
File-URL: http://hdl.handle.net/10.3846/16111699.2013.815131
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Handle: RePEc:taf:jbemgt:v:15:y:2014:i:4:p:599-614
Template-Type: ReDIF-Article 1.0
Author-Name: Mauro Andriotto
Author-X-Name-First: Mauro
Author-X-Name-Last: Andriotto
Author-Name: Emanuele Teti
Author-X-Name-First: Emanuele
Author-X-Name-Last: Teti
Title: Beyond CAPM: an innovative factor model to optimize the risk and return trade-off
Abstract:
Different models have tried to improve the Capital Asset Pricing Model
findings, on the basis that different factors can affect asset return.
This paper examines a series of explanatory factors, broader than those
explained by traditional theory, to see whether they are able to more
accurately explain the returns. Should the previous point be confirmed, we
must consider that the risk of an asset depends on multiple factors,
rather than the few that are usually identified in the literature. Even
though more than 300,000 factors are examined in this paper, the results
show that in recent years just 87 factors are able to fully explain the
returns of 4,500 companies in the 15 European countries examined. Our
analysis also shows that business and macroeconomic, rather than financial
factors, are those that heavily bear on asset returns; and that factors
that affect asset return, either only positively or only negatively, do
not exist. However, the same factor can affect some companies positively
and others negatively. Thus, since not all firms are always sensitive to
the same factors, there is the possibility to further decrease risk in
proportion to return, through a factor-based risk optimisation process.
Journal: Journal of Business Economics and Management
Pages: 615-630
Issue: 4
Volume: 15
Year: 2014
Month: 9
X-DOI: 10.3846/16111699.2013.770789
File-URL: http://hdl.handle.net/10.3846/16111699.2013.770789
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Handle: RePEc:taf:jbemgt:v:15:y:2014:i:4:p:615-630
Template-Type: ReDIF-Article 1.0
Author-Name: Kwo-Liang Chen
Author-X-Name-First: Kwo-Liang
Author-X-Name-Last: Chen
Author-Name: Ching-Chiang Yeh
Author-X-Name-First: Ching-Chiang
Author-X-Name-Last: Yeh
Author-Name: Jo-Chen Huang
Author-X-Name-First: Jo-Chen
Author-X-Name-Last: Huang
Title: Supplier selection using a hybrid model for 3C industry
Abstract:
Supplier selection is a good strategy for firms that can reduce operating
costs and improve competitiveness for computer, communication and consumer
electronics (3C) industry. The major aim of this research is to build a
systematic approach for establishing a supplier selection model, and then
prioritize improvement criteria in order to best supply chain management.
The study proposed a hybrid approach by using the interpretive structural
modeling (ISM) method to deal with the interrelationship among criteria,
and the analytic network process (ANP) method is employed to recognize the
criteria of supplier selection and evaluate with respect to environmental
competency for the case of Taiwan's 3C industry. The study shows that the
proposed model could be an effective and efficient decision-making tool
that can be easily extended to other contexts. Especially, it has provided
decision-makers and researchers with better understanding of the
differences in supplier selection activity needs and specific management
interventions by examining these criteria.
Journal: Journal of Business Economics and Management
Pages: 631-645
Issue: 4
Volume: 15
Year: 2014
Month: 9
X-DOI: 10.3846/16111699.2013.807870
File-URL: http://hdl.handle.net/10.3846/16111699.2013.807870
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Handle: RePEc:taf:jbemgt:v:15:y:2014:i:4:p:631-645
Template-Type: ReDIF-Article 1.0
Author-Name: Jelena Stankevičienė
Author-X-Name-First: Jelena
Author-X-Name-Last: Stankevičienė
Author-Name: Tatjana Sviderskė
Author-X-Name-First: Tatjana
Author-X-Name-Last: Sviderskė
Author-Name: Algita Miečinskienė
Author-X-Name-First: Algita
Author-X-Name-Last: Miečinskienė
Title: Dependence of sustainability on country risk indicators in EU Baltic Sea region countries
Abstract:
Country risk and economic sustainability become more and more important in
the contemporary economic world. This paper proposes the analysis on
relationship between country risk and economic sustainability in EU Baltic
Sea region countries, based on statistical data of the year 2012.
Investigations and calculations of rankings for country risk and
sustainability were made and the results were optimized by implementing
MOORA (Multi-Objective Optimization by Ratio analysis) and MULTIMOORA
(MOORA plus Full Multiplicative Form) methods. Furthermore, correlation
analysis was prepared and the informative results were obtained. Starting
with a system of 8 alternative responses on 21 objectives (indicators),
from several approaches the unambiguous results were obtained, which could
be engaged in the process of creating new model for country risk
assessment and its dependent sustainability indicators for EU Baltic Sea
region countries.
Journal: Journal of Business Economics and Management
Pages: 646-663
Issue: 4
Volume: 15
Year: 2014
Month: 9
X-DOI: 10.3846/16111699.2014.965555
File-URL: http://hdl.handle.net/10.3846/16111699.2014.965555
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Handle: RePEc:taf:jbemgt:v:15:y:2014:i:4:p:646-663
Template-Type: ReDIF-Article 1.0
Author-Name: Kenichi Tamegawa
Author-X-Name-First: Kenichi
Author-X-Name-Last: Tamegawa
Title: Demand uncertainty, inventory and business cycles
Abstract:
This paper introduces demand uncertainty and inventory into a dynamic
stochastic general equilibrium model. We assume that firms must predict
demand before production. The purpose of this study is to investigate the
effects of several exogenous shocks on the model economy in our settings.
A numerical simulation using our model shows the following results. When
shocks that raise expected demand are given, inventory stocks increase
because output exceeds demand. In the next period, firms release the
inventory stock, reducing excess stock and decreasing output. Thus,
inventory adjustment causes recession. This result implies that cyclical
movement (economic boom and bust) continues until variables return to the
steady state. Furthermore, we confirm that our model can reproduce
stylized facts for inventory movements and enhance empirical fit relative
to the model without inventory.
Journal: Journal of Business Economics and Management
Pages: 664-683
Issue: 4
Volume: 15
Year: 2014
Month: 9
X-DOI: 10.3846/16111699.2014.953569
File-URL: http://hdl.handle.net/10.3846/16111699.2014.953569
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Handle: RePEc:taf:jbemgt:v:15:y:2014:i:4:p:664-683
Template-Type: ReDIF-Article 1.0
Author-Name: Daiva Jurevičienė
Author-X-Name-First: Daiva
Author-X-Name-Last: Jurevičienė
Author-Name: Marina Volkova
Author-X-Name-First: Marina
Author-X-Name-Last: Volkova
Title: Evaluation of the 3-super-rd pillar pension funds in Lithuania
Abstract:
The article emphasizes the increasing importance of the 3-super-rd pillar
pension funds and necessity of their assessment in Lithuania. Identified
private pension funds evaluation criteria and the expert survey carried
out in this paper allowed to ascertain main parameters of evaluation and
weigh them according to their importance. Moreover, there is used Delphi
method together with Kendall's coefficient of concordance to assure that
the attitude of experts and the results of survey are reconcilable and
statistically significant. Finally, created model is tested using funds
data analysis to assess its reliability. It is expected that scientific
recommendations made based on the analysis of the theoretical studies and
empiric research data will assist assessing the 3-super-rd pillar pension
funds. In addition, it is supposed that these results will help investors
to make a right decision choosing a particular 3-super-rd pillar pension
fund and will be a useful tool to encourage investments into private
pension funds in the future.
Journal: Journal of Business Economics and Management
Pages: 684-707
Issue: 4
Volume: 15
Year: 2014
Month: 9
X-DOI: 10.3846/16111699.2014.951956
File-URL: http://hdl.handle.net/10.3846/16111699.2014.951956
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Handle: RePEc:taf:jbemgt:v:15:y:2014:i:4:p:684-707
Template-Type: ReDIF-Article 1.0
Author-Name: Fernando A. F. Ferreira
Author-X-Name-First: Fernando A. F.
Author-X-Name-Last: Ferreira
Author-Name: Sérgio P. Santos
Author-X-Name-First: Sérgio P.
Author-X-Name-Last: Santos
Author-Name: Paulo M. M. Rodrigues
Author-X-Name-First: Paulo M. M.
Author-X-Name-Last: Rodrigues
Author-Name: Ronald W. Spahr
Author-X-Name-First: Ronald W.
Author-X-Name-Last: Spahr
Title: How to create indices for bank branch financial performance measurement using MCDA techniques: an illustrative example
Abstract:
Most banks have been negatively affected by the recent economic recession,
which has forced them to evaluate their operating performance including
the financial performance of bank branches. Approaches that have been
applied to address the financial performance evaluation of bank branches
include: optimization techniques, simulations, stochastic tools, fuzzy
logics and decision support systems. Although recent improvements have
been made in assessing financial performance, the potential for
significant further improvement remains since the recent world economic
crisis is adding pressure on business margins. The purpose of this paper
is to construct an exemplificative evaluation index for bank branch
financial performance by integrating cognitive maps with measuring
attractiveness by a categorical based evaluation technique. We aim to
apply this methodology constructively to serve as a learning mechanism and
introduce transparency in the decision making process. Practical
applications, strengths and weaknesses of the proposed evaluation index
are also discussed.
Journal: Journal of Business Economics and Management
Pages: 708-728
Issue: 4
Volume: 15
Year: 2014
Month: 9
X-DOI: 10.3846/16111699.2012.701230
File-URL: http://hdl.handle.net/10.3846/16111699.2012.701230
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Handle: RePEc:taf:jbemgt:v:15:y:2014:i:4:p:708-728
Template-Type: ReDIF-Article 1.0
Author-Name: Shima Lashgari
Author-X-Name-First: Shima
Author-X-Name-Last: Lashgari
Author-Name: Jurgita Antuchevičienė
Author-X-Name-First: Jurgita
Author-X-Name-Last: Antuchevičienė
Author-Name: Alireza Delavari
Author-X-Name-First: Alireza
Author-X-Name-Last: Delavari
Author-Name: Omid Kheirkhah
Author-X-Name-First: Omid
Author-X-Name-Last: Kheirkhah
Title: Using QSPM and WASPAS methods for determining outsourcing strategies
Abstract:
The aim of the current study is to select the best strategies for
outsourcing development, applying decision-making tools that enable to
make reasoned decision. To evaluate outsourcing strategies, a new model of
Comprehensive Framework for Strategy Formulation and Selection is
presented. Development of outsourcing of healthcare services in Tehran is
analysed in the paper. Strengths, Weaknesses, Opportunities, and Threats
analysis is used to evaluate the internal and external factors affecting
the outsourcing of healthcare services in health deputy of the Tehran
University of Medical Sciences in different aspects and to develop several
possible outsourcing strategies. Quantitative Strategic Planning Matrix is
applied for quantitative evaluation of strategies. It is proposed to
validate the approach by applying Multiple Criteria Decision Making
methods. Robust and accurate Weighted Aggregated Sum Product Assessment
method is selected and applied for quantitative evaluation of strategies.
Based on the consistency of the results of the both approaches, the five
best strategies to develop healthcare services outsourcing are offered.
Journal: Journal of Business Economics and Management
Pages: 729-743
Issue: 4
Volume: 15
Year: 2014
Month: 9
X-DOI: 10.3846/16111699.2014.908789
File-URL: http://hdl.handle.net/10.3846/16111699.2014.908789
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Handle: RePEc:taf:jbemgt:v:15:y:2014:i:4:p:729-743
Template-Type: ReDIF-Article 1.0
Author-Name: Esti Van Wyk de Vries
Author-X-Name-First: Esti
Author-X-Name-Last: Van Wyk de Vries
Author-Name: Rangan Gupta
Author-X-Name-First: Rangan
Author-X-Name-Last: Gupta
Author-Name: Reneé Van Eyden
Author-X-Name-First: Reneé
Author-X-Name-Last: Van Eyden
Title: Intertemporal portfolio allocation and hedging demand: an application to South Africa
Abstract:
This paper analyses the intertemporal hedging demand for stocks and bonds
in South Africa, the United Kingdom and the United States. The analysis is
done using an approximate solution method for the optimal consumption and
wealth portfolio problem of an infinitely long-lived investor. Investors
are assumed to have Epstein-Zin-Weil-type preferences and face asset
returns described by a first-order vector autoregression in returns and
state variables. The results show that the mean intertemporal hedging
demands for stocks are considerably smaller in SA than in the UK or the
US, whilst the mean intertemporal hedging demand for bonds are not
significantly different from zero in any of the countries considered.
Furthermore, it is found that stocks in the US and the UK do not present a
useful hedging opportunity for an investor in SA, nor do SA stocks present
a useful hedging opportunity for investors from the UK or the US.
Journal: Journal of Business Economics and Management
Pages: 744-775
Issue: 4
Volume: 15
Year: 2014
Month: 9
X-DOI: 10.3846/16111699.2012.688855
File-URL: http://hdl.handle.net/10.3846/16111699.2012.688855
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Handle: RePEc:taf:jbemgt:v:15:y:2014:i:4:p:744-775
Template-Type: ReDIF-Article 1.0
Author-Name: Pradeepta Sethi
Author-X-Name-First: Pradeepta
Author-X-Name-Last: Sethi
Author-Name: Brajesh Kumar
Author-X-Name-First: Brajesh
Author-X-Name-Last: Kumar
Title: Financial structure gap and economic development in India
Abstract:
This study is built on the concept of optimal financial structure and
examines its dynamics with the economic development process of India.
Specifically, the present study intends to examine the evolving importance
of banks and markets during different stages of economic development.
Using annual data from 1988-2009 for India and selected benchmark OECD
countries, we have conducted quantile and robust regression to assess the
impact of deviation from the optimal financial structure on the output
growth. To our knowledge the present study is one of the pioneer works in
calculating the optimal financial structure in Indian context. The
empirical evidence suggests that as the economy develops the services
provided by banks are comparatively more important than those provided by
the stock markets. The financial structure matters for the growth process.
The deviation from the optimal structure has harmful effects on the
economy and the financial structure gap retards the growth process.
Journal: Journal of Business Economics and Management
Pages: 776-794
Issue: 4
Volume: 15
Year: 2014
Month: 9
X-DOI: 10.3846/16111699.2012.729157
File-URL: http://hdl.handle.net/10.3846/16111699.2012.729157
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Handle: RePEc:taf:jbemgt:v:15:y:2014:i:4:p:776-794
Template-Type: ReDIF-Article 1.0
Author-Name: Rui Lin
Author-X-Name-First: Rui
Author-X-Name-Last: Lin
Author-Name: Guiwu Wei
Author-X-Name-First: Guiwu
Author-X-Name-Last: Wei
Author-Name: Hongjun Wang
Author-X-Name-First: Hongjun
Author-X-Name-Last: Wang
Author-Name: Xiaofei Zhao
Author-X-Name-First: Xiaofei
Author-X-Name-Last: Zhao
Title: Choquet integrals of weighted triangular fuzzy linguistic information and their applications to multiple attribute decision making
Abstract:
We investigate the multiple attribute decision making problems in which
attribute values take the form of triangular fuzzy linguistic information.
Firstly, the definition and some operational laws of triangular fuzzy
linguistic are introduced. Then, we have developed three fuzzy linguistic
Choquet integral aggregation operators: fuzzy linguistic choquet ordered
averaging operator, fuzzy linguistic choquet ordered geometric operator
and fuzzy linguistic choquet ordered harmonic mean operator. The prominent
characteristic of the operators is that they cannot only consider the
importance of the elements or their ordered positions, but also reflect
the correlation among the elements or their ordered positions. We have
studied some desirable properties of these operators, such as
commutativity, idempotency and monotonicity, and applied these operators
to multiple attribute decision making with triangular fuzzy linguistic
information. Finally an illustrative example has been given to show the
developed method.
Journal: Journal of Business Economics and Management
Pages: 795-809
Issue: 5
Volume: 15
Year: 2014
Month: 11
X-DOI: 10.3846/16111699.2013.773940
File-URL: http://hdl.handle.net/10.3846/16111699.2013.773940
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Handle: RePEc:taf:jbemgt:v:15:y:2014:i:5:p:795-809
Template-Type: ReDIF-Article 1.0
Author-Name: Erkki K. Laitinen
Author-X-Name-First: Erkki K.
Author-X-Name-Last: Laitinen
Author-Name: Oliver Lukason
Author-X-Name-First: Oliver
Author-X-Name-Last: Lukason
Title: Do firm failure processes differ across countries: evidence from Finland and Estonia
Abstract:
This study considers the novel topic of comparing firm failure processes
between different countries. For seventy bankrupt Finnish firms
corresponding pairs are found among Estonian bankrupt firms based on
industry, size and time of bankruptcy. Despite the similarity of firms
from two countries, the analysis shows remarkable differences in both
pre-failure financial data and reasons for failure. Based only on
financial data, five failure processes are detected for Finnish and six
for Estonian firms. Established failure processes associate with different
failure reasons. The study contributes to literature by showing that for
similar companies failure processes can differ across countries. In
practice, the established information about different failure processes
can be applied when building or using bankruptcy prediction models.
Journal: Journal of Business Economics and Management
Pages: 810-832
Issue: 5
Volume: 15
Year: 2014
Month: 11
X-DOI: 10.3846/16111699.2013.791635
File-URL: http://hdl.handle.net/10.3846/16111699.2013.791635
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Handle: RePEc:taf:jbemgt:v:15:y:2014:i:5:p:810-832
Template-Type: ReDIF-Article 1.0
Author-Name: Agnė Šimelytė
Author-X-Name-First: Agnė
Author-X-Name-Last: Šimelytė
Author-Name: Kęstutis Peleckis
Author-X-Name-First: Kęstutis
Author-X-Name-Last: Peleckis
Author-Name: Renata Korsakienė
Author-X-Name-First: Renata
Author-X-Name-Last: Korsakienė
Title: Analytical network process based on BOCR analysis as an approach for designing a foreign direct investment policy
Abstract:
Foreign direct investment is significantly important for the emerging
market countries or countries in transition. Scientific literature
provides plenty of evidence that FDI may have both negative and positive
influence on economic growth. However, research proves that just specific
type of FDI may bring benefit to the host country. Thus, a targeted FDI
policy is essential for directing foreign capital into problematic
business areas or regions. The goal of the article is to propose a complex
targeted FDI policy, the employment of which would give benefits to the
host country and achieve its strategic goals.
Benefit-opportunities-costs-risks analysis and analytic network process
method are used for the empirical research. Final results reveal that
Lithuania, attracting FDI into research and development area, gains great
benefits and exploits opportunities. At the same time, the highest costs
might be generated while implementing a FDI policy in this area. A FDI
policy towards service sectors would cause the least amount of risks.
These results are significant for academics as the basis for further
research, and decisions-makers as guidance for the development of the
national FDI policy.
Journal: Journal of Business Economics and Management
Pages: 833-852
Issue: 5
Volume: 15
Year: 2014
Month: 11
X-DOI: 10.3846/16111699.2014.976836
File-URL: http://hdl.handle.net/10.3846/16111699.2014.976836
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Handle: RePEc:taf:jbemgt:v:15:y:2014:i:5:p:833-852
Template-Type: ReDIF-Article 1.0
Author-Name: Shu-Shian Lin
Author-X-Name-First: Shu-Shian
Author-X-Name-Last: Lin
Title: Investigation of forecasted risk interrelationship: base on GARCH model, causality in China markets
Abstract:
This paper used data from the Shenzhen and Shanghai stock markets to
simulate the adjusted volatility, and applied time series methods to
realize the relationships of the volatilities between the two markets. The
unit root test, and co-integration analysis to show whether it exists
equilibrium relationship. The result showed that it presented the
co-integrated vectors between the volatilities of Shanghai and Shenzhen
Stock Exchanges during the research period, and it made the regression
more meaningful. Finally, it also showed that the volatility exerted one
way influence between these two markets. It significantly rejected for a
null hypothesis of Shanghai stock market does not granger caused Shenzhen
stock market, and the results of simulated volatilities were consistent
with the results in reality.
Journal: Journal of Business Economics and Management
Pages: 853-861
Issue: 5
Volume: 15
Year: 2014
Month: 11
X-DOI: 10.3846/16111699.2013.839474
File-URL: http://hdl.handle.net/10.3846/16111699.2013.839474
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Handle: RePEc:taf:jbemgt:v:15:y:2014:i:5:p:853-861
Template-Type: ReDIF-Article 1.0
Author-Name: Eva Suárez
Author-X-Name-First: Eva
Author-X-Name-Last: Suárez
Author-Name: José L. Roldán
Author-X-Name-First: José L.
Author-X-Name-Last: Roldán
Author-Name: Arturo Calvo-Mora
Author-X-Name-First: Arturo
Author-X-Name-Last: Calvo-Mora
Title: A structural analysis of the EFQM model: an assessment of the mediating role of process management
Abstract:
The purpose of this paper is to research how the critical total quality
management (TQM) factors present in the European Foundation for Quality
Management (EFQM) model make up a management system. This article presents
a significant contribution to the current body of TQM by establishing the
model's internal working structure as a management system and also by
showing how the way in which the organization designs and starts up this
system has a bearing on its results. The methodology used is structural
equation modeling (Partial Least Squares technique). The sample consisted
of 116 firms. Our findings show that: (1) the EFQM model is a reliable and
valid framework to measure the results achieved by the firm; (2) The
synergies between the critical factors make up a management system,
especially, the importance of leadership, strategy and processes for the
system's effectiveness and soundness; (3) The obtaining of a measure of
the overall results. This allows us to have an overall indicator of the
level of excellence attained by the firm; (4) The process management fully
mediates the influence of strategy, and alliances and resources management
respectively on overall results.
Journal: Journal of Business Economics and Management
Pages: 862-885
Issue: 5
Volume: 15
Year: 2014
Month: 11
X-DOI: 10.3846/16111699.2013.776627
File-URL: http://hdl.handle.net/10.3846/16111699.2013.776627
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Handle: RePEc:taf:jbemgt:v:15:y:2014:i:5:p:862-885
Template-Type: ReDIF-Article 1.0
Author-Name: Björn Johansson
Author-X-Name-First: Björn
Author-X-Name-Last: Johansson
Author-Name: František Sudzina
Author-X-Name-First: František
Author-X-Name-Last: Sudzina
Author-Name: Andreja Pucihar
Author-X-Name-First: Andreja
Author-X-Name-Last: Pucihar
Title: Alignment of business and information strategies and its impact on business performance
Abstract:
Alignment between business strategy and information strategy has been
focused on for several years with research suggesting different
explanations to how this alignment influences a firm's performance. This
article presents results from an investigation of firms in Slovenia about
how business people perceived their business strategy and information
strategy to be aligned. Respondents' statements from the questionnaire
survey on their perceived alignment between business strategy and
information strategy were checked against the firms' revenue growth. The
analysis of perceived alignment between business strategy, information
strategy, and revenue growth shows that there is a significant
relationship between alignment and revenue growth in Slovenia, and this
link is positive. Managers should aim to align business and information
strategies in order to achieve better business performance.
Journal: Journal of Business Economics and Management
Pages: 886-898
Issue: 5
Volume: 15
Year: 2014
Month: 11
X-DOI: 10.3846/16111699.2012.749806
File-URL: http://hdl.handle.net/10.3846/16111699.2012.749806
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Handle: RePEc:taf:jbemgt:v:15:y:2014:i:5:p:886-898
Template-Type: ReDIF-Article 1.0
Author-Name: Dalia Rimkuniene
Author-X-Name-First: Dalia
Author-X-Name-Last: Rimkuniene
Author-Name: Virgilija Zinkeviciute
Author-X-Name-First: Virgilija
Author-X-Name-Last: Zinkeviciute
Title: Social media in communication of temporary organisations: role, needs, strategic perspective
Abstract:
Expansion of "projectisation" culture worldwide, "internalization" of
projects and the inevitable growth of social media use globally calls for
systematic and deeper insights from the strategic management viewpoint.
Projects are defined as temporary organisations within various
organisational bodies. In terms of the strategic management, temporary
organisations are viewed as unique structural networking bodies that are
anticipated to have their own strategy and management approach to meet
project-based needs. Effective "project communication" plays a strategic
role and can be an important enabler of social capital gains for
organisations. Social media, as a new age phenomenon, are claimed to be
the powerful mechanism that opens vast opportunities for collaborative
communication. Their application in terms of temporary organisation is
still underinvestigated area that lacks a researchers' attention. The aim
of this research is to explore the potential of social media use in
temporary organisations. The research study indicates that social media
have a large potential for enhancing collaborative initiatives and
collecting evidence for the strategic planning.
Journal: Journal of Business Economics and Management
Pages: 899-914
Issue: 5
Volume: 15
Year: 2014
Month: 11
X-DOI: 10.3846/16111699.2014.938360
File-URL: http://hdl.handle.net/10.3846/16111699.2014.938360
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Handle: RePEc:taf:jbemgt:v:15:y:2014:i:5:p:899-914
Template-Type: ReDIF-Article 1.0
Author-Name: Puja Padhi
Author-X-Name-First: Puja
Author-X-Name-Last: Padhi
Author-Name: Imlak Shaikh
Author-X-Name-First: Imlak
Author-X-Name-Last: Shaikh
Title: On the relationship of implied, realized and historical volatility: evidence from NSE equity index options
Abstract:
This study examines the information content of implied volatility, using
the options of the underlying S&P CNX Nifty index. In this study, implied,
historical and realized volatilities are calculated using non-overlapping
monthly at-the-money samples. The study covers the period from
introduction of options on the derivative segment of NSE, June 2001 to May
2011. The results reveal that call and put implied volatility of S&P CNX
Nifty index option does contain information about future realized return
volatility. This study accounts for the problem of error-in-variable and
controls for it by using the instrumental variable technique. In the 2SLS
estimation, the Hausman H-statistic shows that call
implied volatility is measured with error. Hence, 2SLS coefficients are
more consistent than the OLS estimates. Results of this study might prove
to be helpful to the volatility traders in volatility forecasting and
option pricing.
Journal: Journal of Business Economics and Management
Pages: 915-934
Issue: 5
Volume: 15
Year: 2014
Month: 11
X-DOI: 10.3846/16111699.2013.793605
File-URL: http://hdl.handle.net/10.3846/16111699.2013.793605
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Handle: RePEc:taf:jbemgt:v:15:y:2014:i:5:p:915-934
Template-Type: ReDIF-Article 1.0
Author-Name: Óscar González-Benito
Author-X-Name-First: Óscar
Author-X-Name-Last: González-Benito
Author-Name: Mercedes Martos-Partal
Author-X-Name-First: Mercedes
Author-X-Name-Last: Martos-Partal
Title: Price sensitivity versus perceived quality: moderating effects of retailer positioning on private label consumption
Abstract:
Private labels are growing fast in Europe and USA, especially in the
context of nondurable consumer goods. Moreover, the traditional
association of private labels solely with a price focus, to the detriment
of quality, appears to be diminishing. This research aims to clarify the
effect of price sensitivity toward and quality perceptions of private
labels on private label consumption. It analyzes the role of a retailer's
price positioning as a moderator of the importance of these effects as
determinants of private label purchases. With household panel data and
survey information, this study investigates private labels' share of
wallet as the dependent variable; thus the logit-type model is adapted to
a resource allocation context. Five sequential models specify and test the
four hypotheses. In support of the hypotheses, price sensitivity and
quality perceptions relate positively to private label consumption. For
the moderating effect of retailer's price positioning, a negative
moderating effect arises for price sensitivity, whereas a positive
moderating effect appears for quality perceptions of private labels. The
findings indicate that retailers' efforts to convert private labels into
tools to support positioning strategies are effective.
Journal: Journal of Business Economics and Management
Pages: 935-950
Issue: 5
Volume: 15
Year: 2014
Month: 11
X-DOI: 10.3846/16111699.2012.744346
File-URL: http://hdl.handle.net/10.3846/16111699.2012.744346
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Handle: RePEc:taf:jbemgt:v:15:y:2014:i:5:p:935-950
Template-Type: ReDIF-Article 1.0
Author-Name: Asad K. Ghalib
Author-X-Name-First: Asad K.
Author-X-Name-Last: Ghalib
Author-Name: Patricia Agupusi
Author-X-Name-First: Patricia
Author-X-Name-Last: Agupusi
Title: Business strategy and corporate responsibility: perception and practice in the oil industry and the role of non-governmental organisations
Abstract:
This paper examines the strategies for the implementation of corporate
social responsibility of various multinationals, with a particular focus
on the oil industry. The role of non-governmental organisations towards
inducing a more responsible behaviour is explored. By drawing on
literature and reflecting on documented actions of various multinational
corporations, particularly from the extractive sector, we find a
commonalty that cuts across the board: a considerable disparity exists
between policies, strategies and actions that these organisations display
in the interest of their inherent, short-term economic gains. Such gains
jeopardize interests of both internal and external stakeholders as well as
the environment especially in the developing world. We argue that the
disparity in implementation can be linked to weak structural institutions
and lack of ethical standards in most developing countries.
Journal: Journal of Business Economics and Management
Pages: 951-963
Issue: 5
Volume: 15
Year: 2014
Month: 11
X-DOI: 10.3846/16111699.2012.720591
File-URL: http://hdl.handle.net/10.3846/16111699.2012.720591
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Handle: RePEc:taf:jbemgt:v:15:y:2014:i:5:p:951-963
Template-Type: ReDIF-Article 1.0
Author-Name: Mei-Tai Chu
Author-X-Name-First: Mei-Tai
Author-X-Name-Last: Chu
Author-Name: Sedigheh Rezaeian Fardoei
Author-X-Name-First: Sedigheh Rezaeian
Author-X-Name-Last: Fardoei
Author-Name: Hasan Fallah
Author-X-Name-First: Hasan
Author-X-Name-Last: Fallah
Author-Name: Sepehr Ghazinoory
Author-X-Name-First: Sepehr
Author-X-Name-Last: Ghazinoory
Author-Name: Alireza Aliahmadi
Author-X-Name-First: Alireza
Author-X-Name-Last: Aliahmadi
Title: Modeling national innovation system enabled by knowledge management
Abstract:
The main objective of this paper is to explore the model of how knowledge
management functions enables national innovation system. To achieve the
objectives of the study, a conceptual framework is proposed and described,
then the systemic analysis is undertaken. Path coefficient and t-value are
also used to measure the relationships among chosen variables. A great
number of sources are used to collect data, including questionnaires,
interviews, observations, and literature review. The achievements of the
study demonstrate 10 distinctive national innovation system performance
dimensions and the relationship with knowledge management functions. The
first layer includes explicit knowledge, while the second layer deals with
tacit knowledge. Both of two layers link to a complete knowledge
management functions and processes: explicit knowledge building, explicit
knowledge gathering, explicit knowledge distributing, explicit knowledge
reusing, tacit knowledge capturing, tacit knowledge sharing tacit
knowledge disseminating, tacit knowledge innovating; whereas the third
layer includes NIS enablers items or performance dimension of national
innovation system: quality, effectiveness, quantity, codification,
structure, efficiency, internalization, expertise, effectiveness.
Journal: Journal of Business Economics and Management
Pages: 964-977
Issue: 5
Volume: 15
Year: 2014
Month: 11
X-DOI: 10.3846/16111699.2013.764923
File-URL: http://hdl.handle.net/10.3846/16111699.2013.764923
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Handle: RePEc:taf:jbemgt:v:15:y:2014:i:5:p:964-977
Template-Type: ReDIF-Article 1.0
Author-Name: Sergeja Slapničar
Author-X-Name-First: Sergeja
Author-X-Name-Last: Slapničar
Author-Name: Adriana Rejc Buhovac
Author-X-Name-First: Adriana Rejc
Author-X-Name-Last: Buhovac
Title: Identifying temporal relationships within multidimensional performance measurement
Abstract:
The paper investigates temporal relationships between leading drivers of
success, non-financial outputs, and financial outcomes as suggested by the
Balanced Scorecard. Based on a sample of 42 companies with a four-year
survey data, we find partial confirmation of temporal causality between
selected actions and performance. The effects of the leading variables on
the non-financial outputs are the strongest in the same year. Also, the
influence of innovation and HR policies via the number of patented
innovations and new products (services) on profit growth is the strongest
within one year. These findings have important implications for the design
of cause-and-effect relationships schemes (strategy maps) and the
development of contemporary performance measurement systems.
Journal: Journal of Business Economics and Management
Pages: 978-993
Issue: 5
Volume: 15
Year: 2014
Month: 11
X-DOI: 10.3846/16111699.2013.789450
File-URL: http://hdl.handle.net/10.3846/16111699.2013.789450
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Handle: RePEc:taf:jbemgt:v:15:y:2014:i:5:p:978-993
Template-Type: ReDIF-Article 1.0
Author-Name: Mehmet Erçek
Author-X-Name-First: Mehmet
Author-X-Name-Last: Erçek
Title: Explaining adoption of management innovations in less advanced settings: evidence from Turkey
Abstract:
This study aims to explain how globally circulating management innovations
are adopted by the firms operating in less advanced settings based on an
integrative framework. The framework incorporates certain characteristics
of national business systems, particular inter-organizational ties
developed with transnational or local carriers, and the potential
absorptive capacity of the local organizations. By this way, it includes
the effects of temporal interactions between different adoption decisions.
The components of the framework are operationalized and tested within the
Turkish setting by using the adoption data of three different management
innovations: TQM, six sigma and lean production. The data is collected
from a sample of 375 large-sized firms using a telephone-based interview
protocol. While the findings provide satisfactory support for the
framework as a whole, they also call attention to the relative differences
in the explanatory power of each factor in accounting for the adoption of
particular innovations. Variations among the explanatory factors can be
attributed to the differences between the life-cycles of TQM, six sigma
and lean production as well as to the relative divergence of their
conceptual framing.
Journal: Journal of Business Economics and Management
Pages: 994-1016
Issue: 5
Volume: 15
Year: 2014
Month: 11
X-DOI: 10.3846/16111699.2012.745815
File-URL: http://hdl.handle.net/10.3846/16111699.2012.745815
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Handle: RePEc:taf:jbemgt:v:15:y:2014:i:5:p:994-1016
Template-Type: ReDIF-Article 1.0
Author-Name: Alena Kocmanová
Author-X-Name-First: Alena
Author-X-Name-Last: Kocmanová
Author-Name: Iveta Šimberová
Author-X-Name-First: Iveta
Author-X-Name-Last: Šimberová
Title: Determination of environmental, social and corporate governance indicators: framework in the measurement of sustainable performance
Abstract:
The article is concerned with determination of environmental, social and
corporate governance (ESG) indicators of performance. The objective of
carried-out empirical research is to determine ESG indicators as a key
framework of the measurement of sustainable performance of a company in
its Sustainable Reporting. On the basis of conducted empirical research,
applying factor analysis, the environmental, social and corporate
governance indicators for companies active in the processing industries
CZ-NACE have been specified. The indicators were selected in a series of
successive phases by a multi-factor analysis. The results of factor
analysis indicated that the factors fall into three measurement
categories: environmental (Investments, Emissions, Source
Consumption, Waste), social (Society, Human Rights,
Labour Practices and Decent Work, Product Responsibility), and
corporate governance (Monitoring and Reporting, Corporate
Governance Effectiveness, Corporate Governance Structure,
Compliance). This article contributes to the effort to solve
measurement of performance of the corporate sustainability and proposal to
conceptual framework of ESG indicators of performance for the
Sustainability Reporting of Czech companies operating in the processing
industry.
Journal: Journal of Business Economics and Management
Pages: 1017-1033
Issue: 5
Volume: 15
Year: 2014
Month: 11
X-DOI: 10.3846/16111699.2013.791637
File-URL: http://hdl.handle.net/10.3846/16111699.2013.791637
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Handle: RePEc:taf:jbemgt:v:15:y:2014:i:5:p:1017-1033
Template-Type: ReDIF-Article 1.0
Author-Name: Maria Vargas
Author-X-Name-First: Maria
Author-X-Name-Last: Vargas
Author-Name: Ruth Vicente
Author-X-Name-First: Ruth
Author-X-Name-Last: Vicente
Author-Name: Fernando Muñoz
Author-X-Name-First: Fernando
Author-X-Name-Last: Muñoz
Title: Searching for the most profitable and sustainable investment strategy: evidence from sovereign bond funds
Abstract:
The aim of this study is to provide the sovereign bond fund investor with
a guide to finding the most profitable and sustainable investment
strategy. For this purpose, a Global Sustainable Competitiveness Index is
applied to a sample of 48 funds.We have conducted a best-in-class
analysis, and our evidence supports the idea that the best strategy
consists of investing in funds representing high GDP-per-capita countries,
and registering the best-in-class sustainable performance
scores.Additionally, other useful findings are that the screening of the
funds is beneficial with respect to sustainable performance, and that
there is no strong relationship between sustainability and GDP per capita.
Journal: Journal of Business Economics and Management
Pages: 1034-1053
Issue: 5
Volume: 15
Year: 2014
Month: 11
X-DOI: 10.3846/16111699.2012.745818
File-URL: http://hdl.handle.net/10.3846/16111699.2012.745818
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Handle: RePEc:taf:jbemgt:v:15:y:2014:i:5:p:1034-1053
Template-Type: ReDIF-Article 1.0
Author-Name: Petr Doucek
Author-X-Name-First: Petr
Author-X-Name-Last: Doucek
Author-Name: Milos Maryska
Author-X-Name-First: Milos
Author-X-Name-Last: Maryska
Author-Name: Ota Novotny
Author-X-Name-First: Ota
Author-X-Name-Last: Novotny
Title: Requirements on the competence of ICT managers and their coverage by the educational system - experience in the Czech Republic
Abstract:
Global developments in the information society are placing ever greater
emphasis on professionals in the area of Information and Communications
Technologies (ICT) and especially on managers of ICT companies. This
article provides a comparison of the trends in the requirements of
business practice on ICT managers in 2006 and 2010 and simultaneously
draws attention to the coverage of these requirements by fields of study
with ICT specialization, on the example of the Czech Republic. The
presented results of the obtained data indicate quite good coverage of the
requirements on knowledge and skills for the role of ICT manager in the
Czech education market. In addition, the article encompasses methodology
that can be employed to compare qualitative quantities of the potential of
the educational process with the requirements imposed on it.
Journal: Journal of Business Economics and Management
Pages: 1054-1077
Issue: 5
Volume: 15
Year: 2014
Month: 11
X-DOI: 10.3846/16111699.2012.658436
File-URL: http://hdl.handle.net/10.3846/16111699.2012.658436
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Handle: RePEc:taf:jbemgt:v:15:y:2014:i:5:p:1054-1077
Template-Type: ReDIF-Article 1.0
Author-Name: Renata Korsakienė
Author-X-Name-First: Renata
Author-X-Name-Last: Korsakienė
Author-Name: Asta Stankevičienė
Author-X-Name-First: Asta
Author-X-Name-Last: Stankevičienė
Author-Name: Agnė Šimelytė
Author-X-Name-First: Agnė
Author-X-Name-Last: Šimelytė
Author-Name: Milda Talačkienė
Author-X-Name-First: Milda
Author-X-Name-Last: Talačkienė
Title: Factors driving turnover and retention of information technology professionals
Abstract:
Taking into consideration turnover phenomenon and retention issues, the
purpose of the paper is to reveal the employee perceptions on
organisational and job-related factors impacting decisions to leave and to
stay with the current employer. Based on theoretical discussion related to
voluntary turnover and retention of employees, the research instrument was
developed. A total of 143 responses were collected from employees working
in private IT companies of Lithuania. The results revealed that base pay
and challenging work content were perceived as the most important
employment characteristics. Turnover prediction models disclose turnover
intentions of project managers, which can be explained by participation in
strategy development, support of top managers and negative perception of
the base pay. Meanwhile, turnover intensions of heads of departments/ high
level managers can be explained by negative associations with performance
incentives/ bonuses, career opportunities and working conditions. The
findings of the paper let us to develop theoretical insights and provide
manager recommendations leading to the retention of information technology
professionals.
Journal: Journal of Business Economics and Management
Pages: 1-17
Issue: 1
Volume: 16
Year: 2015
Month: 2
X-DOI: 10.3846/16111699.2015.984492
File-URL: http://hdl.handle.net/10.3846/16111699.2015.984492
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Handle: RePEc:taf:jbemgt:v:16:y:2015:i:1:p:1-17
Template-Type: ReDIF-Article 1.0
Author-Name: Fernando A. F. Ferreira
Author-X-Name-First: Fernando A. F.
Author-X-Name-Last: Ferreira
Author-Name: Carla S. E. Marques
Author-X-Name-First: Carla S. E.
Author-X-Name-Last: Marques
Author-Name: Melanie M. Reis
Author-X-Name-First: Melanie M.
Author-X-Name-Last: Reis
Author-Name: Neuza C. M. Q. F. Ferreira
Author-X-Name-First: Neuza C. M. Q. F.
Author-X-Name-Last: Ferreira
Author-Name: Amali Çipi
Author-X-Name-First: Amali
Author-X-Name-Last: Çipi
Title: Evolutionary patterns and development prospects for e-government: a Delphi-based approach to perceptions of the administrative agent
Abstract:
Information technology is an open door for governments to service citizens
in a more timely, cost-efficient and effective manner. Even considering
citizen resistance, cultural adversity or changes in the economic agents'
relationship, few would contest that concern over the state of electronic
government (e-government) has increased over the years. This concern has
been responsible for the emergence of a wide range of new initiatives
devoted to development of the information and knowledge society, which
occupies a central place in government policies and planning strategies
worldwide. In this paper, we aim to analyze the evolutionary patterns of
e-government in Portugal and, based on an application of the Delphi
technique, provide development prospects considering the perceptions of a
panel of administrative agents. Despite the low use of e-government
services, our study demonstrates that the administrative agent expresses
overall satisfaction with its use. Additionally, the high level of
modernization allows us to forecast the increased use of information and
communication technologies in terms of e-government services.
Journal: Journal of Business Economics and Management
Pages: 18-36
Issue: 1
Volume: 16
Year: 2015
Month: 2
X-DOI: 10.3846/16111699.2013.770790
File-URL: http://hdl.handle.net/10.3846/16111699.2013.770790
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Handle: RePEc:taf:jbemgt:v:16:y:2015:i:1:p:18-36
Template-Type: ReDIF-Article 1.0
Author-Name: Mindaugas Laužikas
Author-X-Name-First: Mindaugas
Author-X-Name-Last: Laužikas
Author-Name: Simona Dailydaitė
Author-X-Name-First: Simona
Author-X-Name-Last: Dailydaitė
Title: Impacts of social capital on transformation from efficiency to innovation-driven business
Abstract:
The present article is focused on impacts of social capital on
transformation from efficiency to innovation-driven business. Such aspects
of social capital as social relations, usage of human capital in
innovation processes, expertise in market analysis are often ignored by
entrepreneurs. The research purpose is to analyse the relation between
social capital and transformation from efficiency to innovation-driven
business. Main aspects of this relation are revealed by interpreting
findings of Global Entrepreneurship Monitor (GEM), which is to examine how
different factors encourage economic development globally via
entrepreneurship. Relying on a solid GEM methodology, which combines
quantitative adult survey and qualitative expert interviews, various
transformation problems of catching-up countries are analysed while paying
a special attention to effects of social capital and illustrating them by
the case of Lithuania. The role of human capital is measured by such
factors as anticipated growth of headcount within respondents' firms;
social relations refer to social image of entrepreneurs (as it is
impossible to have a strong social image without good social relations
with stakeholders), while information/ knowledge diffusion is analysed via
such effects as a number of companies that deliver innovative products
and/or services, a number of customers who appreciate and want to try
innovative products and/or services as well as a number of expected
competitors in the market (it is impossible to be innovative and
competitive in the market without information/ feedback collection system
established).
Journal: Journal of Business Economics and Management
Pages: 37-51
Issue: 1
Volume: 16
Year: 2015
Month: 2
X-DOI: 10.3846/16111699.2012.754374
File-URL: http://hdl.handle.net/10.3846/16111699.2012.754374
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Handle: RePEc:taf:jbemgt:v:16:y:2015:i:1:p:37-51
Template-Type: ReDIF-Article 1.0
Author-Name: Mitja Ruzzier
Author-X-Name-First: Mitja
Author-X-Name-Last: Ruzzier
Author-Name: Maja Konecnik Ruzzier
Author-X-Name-First: Maja Konecnik
Author-X-Name-Last: Ruzzier
Title: On the relationship between firm size, resources, age at entry and internationalization: the case of Slovenian SMEs
Abstract:
Export marketing and international business literature support the view
that firm size-a reflection of number of employees, and sales-is
positively related to export intensity and is a distinguishing factor
between internationalized and non-internationalized firms. According to
the resource-based view heterogeneous resource profiles that enable firms
to achieve competitive advantage in international markets may be also such
differentiating factors. On the other hand, as a result of the process of
globalization and the increasing number of born global firms, firm age at
entry into foreign markets is becoming negatively related to
internationalization. Our findings just partly confirm the trends above.
Using a regression model on the selected sample of 247 Slovenian small and
medium enterprises, we have confirmed the hypotheses that
internationalized companies are significantly larger (in terms of sales)
and have more specialized resources (human, organizational, and financial
resources) than non-internationalized companies. Organizational and human
resources and the number of employees were positively and significantly
related, while the age of companies at the start of their international
activities was negatively related, to the extent of companies'
internationalization. Different implications and conclusions for
researchers and entrepreneurs are derived.
Journal: Journal of Business Economics and Management
Pages: 52-73
Issue: 1
Volume: 16
Year: 2015
Month: 2
X-DOI: 10.3846/16111699.2012.745812
File-URL: http://hdl.handle.net/10.3846/16111699.2012.745812
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Handle: RePEc:taf:jbemgt:v:16:y:2015:i:1:p:52-73
Template-Type: ReDIF-Article 1.0
Author-Name: Li-Chang Hsu
Author-X-Name-First: Li-Chang
Author-X-Name-Last: Hsu
Author-Name: Shang-Ling Ou
Author-X-Name-First: Shang-Ling
Author-X-Name-Last: Ou
Author-Name: Yih-Chang Ou
Author-X-Name-First: Yih-Chang
Author-X-Name-Last: Ou
Title: A Comprehensive performance evaluation and ranking methodology under a sustainable development perspective
Abstract:
Under industry globalization and the intensely competitive environment, a
company's competitiveness must constantly be upgraded in order to achieve
the goal of sustainability. Therefore, the correct and valid evaluation of
companies' sustainable performance has become an important issue. The main
purpose of this study is to discuss and establish a sustainable
performance evaluation criteria and model for companies. First, the
measurements of companies' financial, credit risk, environmental and
social responsibility are integrated to create sustainable business
performance evaluation criteria. Then, we integrate grey relational
analysis and an improved TOPSIS method to construct a sustainable
performance evaluation model for companies. In order to verify the
findings of this study, we adopt Taiwan's high-tech listed companies as
the research object to explore sustainable operating performance and
ranking in 2011. The empirical results will help companies to build future
business strategies and can also be used as an important reference for
investor and bank credit auditing.
Journal: Journal of Business Economics and Management
Pages: 74-92
Issue: 1
Volume: 16
Year: 2015
Month: 2
X-DOI: 10.3846/16111699.2013.848228
File-URL: http://hdl.handle.net/10.3846/16111699.2013.848228
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Handle: RePEc:taf:jbemgt:v:16:y:2015:i:1:p:74-92
Template-Type: ReDIF-Article 1.0
Author-Name: José M. Merigó
Author-X-Name-First: José M.
Author-X-Name-Last: Merigó
Title: Decision-making under risk and uncertainty and its application in strategic management
Abstract:
We introduce a new decision-making model that unifies risk and uncertain
environments in the same formulation. For doing so, we present the induced
probabilistic ordered weighted averaging (IPOWA) operator. It is an
aggregation operator that unifies the probability with the OWA operator in
the same formulation and considering the degree of importance of each
concept in the aggregation. Moreover, it also uses induced aggregation
operators that provide a more general representation of the attitudinal
character of the decision-maker. We study its applicability and we see
that it is very broad because all the previous studies that use the
probability or the OWA operator can be revised and extended with this new
approach. We briefly analyze some basic applications in statistics such as
the implementation of this approach with the variance, the covariance, the
Pearson coefficient and in a simple linear regression model. We focus on a
multi-person decision-making problem in strategic management. Thus, we are
able to construct a new aggregation operator that we call the multi-person
IPOWA operator. Its main advantage is that it can deal with the opinion of
several persons in the analysis so we can represent the information in a
more complete way.
Journal: Journal of Business Economics and Management
Pages: 93-116
Issue: 1
Volume: 16
Year: 2015
Month: 2
X-DOI: 10.3846/16111699.2012.661758
File-URL: http://hdl.handle.net/10.3846/16111699.2012.661758
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Handle: RePEc:taf:jbemgt:v:16:y:2015:i:1:p:93-116
Template-Type: ReDIF-Article 1.0
Author-Name: Atilla Çifter
Author-X-Name-First: Atilla
Author-X-Name-Last: Çifter
Title: Bank concentration and non-performing loans in Central and Eastern European countries
Abstract:
This paper examines the effect of bank concentration on the non-performing
loans (NPLs) for ten Central and Eastern European (CEE)
countries. The short-run effect of bank concentration is tested with the
generalised method of moments system and the instrumental variable
approaches, and the long-run effect is tested with the fully modified
ordinary least square (FMOLS) approach. The empirical analysis shows that
the bank concentration is an insignificant factor on the
NPLs, either in the short or in the long-run of the panel
data set. On the other hand, individual FMOLS results reveal that the bank
concentration reduces the NPLs in Estonia, Latvia, and
Slovakia, and increases the NPLs in Bulgaria, Croatia,
Lithuania, Poland, and Slovenia in the long-run. According to this
evidence, the bank concentration does not reduce the credit risk for all
of the CEE countries. Therefore, bank concentration may not affect
systemic stability in the CEE countries. These findings are also robust in
controlling several factors, including additional control variables. As a
result, the relationship between the bank concentration and the
NPLs, in regards to the CEE countries, is ambiguous.
Journal: Journal of Business Economics and Management
Pages: 117-137
Issue: 1
Volume: 16
Year: 2015
Month: 2
X-DOI: 10.3846/16111699.2012.720590
File-URL: http://hdl.handle.net/10.3846/16111699.2012.720590
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Handle: RePEc:taf:jbemgt:v:16:y:2015:i:1:p:117-137
Template-Type: ReDIF-Article 1.0
Author-Name: Martin Kovářík
Author-X-Name-First: Martin
Author-X-Name-Last: Kovářík
Author-Name: Libor Sarga
Author-X-Name-First: Libor
Author-X-Name-Last: Sarga
Author-Name: Petr Klímek
Author-X-Name-First: Petr
Author-X-Name-Last: Klímek
Title: Usage of control charts for time series analysis in financial management
Abstract:
We will deal with corporate financial proceeding using statistical process
control, specifically time series control charts. The article outlines
intersection of two disciplines, namely econometrics and statistical
process control. Theoretical part discusses methodology of time series
control charts, and in research part, the methodology is demonstrated on
two case studies. The first focuses on analysis of Slovak currency from
the perspective of its usefulness for generating profits through time
series control charts. The second involves regulation of financial flows
for a heteroskedastic financial process by EWMA and ARIMA control charts.
We use Box-Jenkins methodology to find models of time series of annual
Argentinian Gross Domestic Product available as a basic index from
1951-1998. We demonstrate the versatility of control charts not only in
manufacturing but also in managing financial stability of cash flows.
Specifically, we show their sensitivity in detecting even small shifts in
mean which may indicate financial instability. This analytical approach is
widely applicable and therefore of theoretical and practical interest.
Journal: Journal of Business Economics and Management
Pages: 138-158
Issue: 1
Volume: 16
Year: 2015
Month: 2
X-DOI: 10.3846/16111699.2012.732106
File-URL: http://hdl.handle.net/10.3846/16111699.2012.732106
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Handle: RePEc:taf:jbemgt:v:16:y:2015:i:1:p:138-158
Template-Type: ReDIF-Article 1.0
Author-Name: Rolf Färe
Author-X-Name-First: Rolf
Author-X-Name-Last: Färe
Author-Name: Shawna Grosskopf
Author-X-Name-First: Shawna
Author-X-Name-Last: Grosskopf
Author-Name: Joaquín Maudos
Author-X-Name-First: Joaquín
Author-X-Name-Last: Maudos
Author-Name: Emili Tortosa-ausina
Author-X-Name-First: Emili
Author-X-Name-Last: Tortosa-ausina
Title: Revisiting the quiet life hypothesis in banking using nonparametric techniques
Abstract:
Early studies testing the quiet life hypothesis in banking found strong
evidence that banks in more concentrated markets exhibit lower cost
efficiency levels. More recent studies have reexamined the issue in
different contexts with mixed results. These approaches are based on
stipulating a linear relationship between market power and efficiency in
banking, which might be problematic, as suggested by the literature on
efficiency analysis. We explore how bank cost efficiency measures are
related to market power using flexible techniques, which are more
consistent with those employed to measure efficiency in the first stage of
the analysis. Our study focuses on the Spanish banking industry, which has
been experiencing substantial change in the last few years, combining
institutions with different ownership structures and business models.
Results show that the relationship varies according to the level of market
power, the component of efficiency evaluated (cost, technical or
allocative) and the type of banking firm (commercial bank or savings
bank), suggesting that the quiet life might be a reality only for some
financial institutions.
Journal: Journal of Business Economics and Management
Pages: 159-187
Issue: 1
Volume: 16
Year: 2015
Month: 2
X-DOI: 10.3846/16111699.2012.726929
File-URL: http://hdl.handle.net/10.3846/16111699.2012.726929
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Handle: RePEc:taf:jbemgt:v:16:y:2015:i:1:p:159-187
Template-Type: ReDIF-Article 1.0
Author-Name: Qazi Muhammad Adnan Hye
Author-X-Name-First: Qazi Muhammad Adnan
Author-X-Name-Last: Hye
Author-Name: Wee-Yeap Lau
Author-X-Name-First: Wee-Yeap
Author-X-Name-Last: Lau
Title: Trade openness and economic growth: empirical evidence from India
Abstract:
The main objective of this study is to develop first time trade openness
index and use this index to examine the link between trade openness and
economic growth in case of India. This study employs a new endogenous
growth model for theoretical support, auto-regressive distributive lag
model and rolling window regression method in order to determine long run
and short run association between trade openness and economic growth.
Further granger causality test is used to determine the long run and short
run causal direction. The results reveal that human capital and physical
capital are positively related to economic growth in the long run. On the
other hand, trade openness index negatively impacts on economic growth in
the long run. The new evidence is provided by the rolling window
regression results i.e. the impact of trade openness index on economic
growth is not stable throughout the sample. In the short run trade
openness index is positively related to economic growth. The result of
granger causality test confirms the validity of trade openness-led growth
and human capital-led growth hypothesis in the short run and long run.
Journal: Journal of Business Economics and Management
Pages: 188-205
Issue: 1
Volume: 16
Year: 2015
Month: 2
X-DOI: 10.3846/16111699.2012.720587
File-URL: http://hdl.handle.net/10.3846/16111699.2012.720587
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Handle: RePEc:taf:jbemgt:v:16:y:2015:i:1:p:188-205
Template-Type: ReDIF-Article 1.0
Author-Name: Vichet Sum
Author-X-Name-First: Vichet
Author-X-Name-Last: Sum
Title: Can firms with the best training program withstand the storm of economic policy uncertainty?
Abstract:
This study examines if firms whose training programs ranked as the best
ones in the United States can withstand the changes in economic policy
uncertainty. The regression analysis of monthly changes in economic policy
uncertainty index, monthly returns on the CRSP value-weighted index, and
monthly returns on an equal-weighted portfolio of public firms in the
United States ranked consecutively from 2006 to 2011 in the top 50 of the
Training Top 125 shows that the increased changes in economic policy
uncertainty negatively affect the portfolio returns; however, this effect
is not statistically significant at the 1% level. The result from
regressing monthly returns on CRSP value-weighted index on the monthly
changes of economic policy index yields a statistically significant
negative coefficient at the 1% level, and this coefficient is more
negative than the coefficient obtained from regressing the monthly
portfolio returns on the monthly changes in economic policy uncertainty.
This study provides empirical evidence of the ability of firms in the US
with the best training program to withstand the storm of economic policy
uncertainty better than the whole market. In other words, the findings
suggest that firms with the best training program are more prepared than
the whole market in responding to the changes in economic policy
uncertainty.
Journal: Journal of Business Economics and Management
Pages: 206-213
Issue: 1
Volume: 16
Year: 2015
Month: 2
X-DOI: 10.3846/16111699.2012.761647
File-URL: http://hdl.handle.net/10.3846/16111699.2012.761647
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Handle: RePEc:taf:jbemgt:v:16:y:2015:i:1:p:206-213
Template-Type: ReDIF-Article 1.0
Author-Name: Klement Podnar
Author-X-Name-First: Klement
Author-X-Name-Last: Podnar
Author-Name: Urša Golob
Author-X-Name-First: Urša
Author-X-Name-Last: Golob
Title: The twin foci of organisational identification and their relevance for commitment: a study of marketing communications industry
Abstract:
The purpose of this paper is to distinguish the two foci of organisational
identification and to explore relations among employees' groups and
corporate identification, perceived external prestige, and organisational
commitment. Structural equation modelling was applied to data collected by
questionnaire from a sample of 145 respondents employed in advertising
agencies, to test the relationships between the researched concepts.
Organisational identification comprises identification with the
organisation both as a collective of individuals and as a social entity.
Perceived external prestige augments corporate identification and helps to
explain organisational commitment. A strong positive link between
corporate identification and organisational commitment was also found. The
findings suggest a means for marketing strategists and general managers to
predict the consequences of managing reputation for employees and to
undertake appropriate initiatives to enhance corporate identification
inside the company and thus influence organisational commitment and
corporate performance.
Journal: Journal of Business Economics and Management
Pages: 214-227
Issue: 1
Volume: 16
Year: 2015
Month: 2
X-DOI: 10.3846/16111699.2013.791636
File-URL: http://hdl.handle.net/10.3846/16111699.2013.791636
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Handle: RePEc:taf:jbemgt:v:16:y:2015:i:1:p:214-227
Template-Type: ReDIF-Article 1.0
Author-Name: Ping Yung
Author-X-Name-First: Ping
Author-X-Name-Last: Yung
Title: A new institutional economic theory of project management
Abstract:
The theories of project management are not well developed despite the
existence of extensive literature on the topic. This paper derives a New
Institutional Economic theory of project management. It is suggested that
project management encompasses both the discipline of operational
management and that of economics. The operational management part deals
with optimization of project processes. The basic postulation of the
economic part is that human beings will maximize their benefits under
constraints. Constraints are converted to either price or cost to
facilitate the application of the law of demand. Three examples are used
to demonstrate how refutable hypotheses can be derived when changes in
constraints lead to changes in behaviours. The functions of project
management are discussed in the contexts of this theoretical framework. A
synthesis with existing theories is also given.
Journal: Journal of Business Economics and Management
Pages: 228-243
Issue: 1
Volume: 16
Year: 2015
Month: 2
X-DOI: 10.3846/16111699.2012.748689
File-URL: http://hdl.handle.net/10.3846/16111699.2012.748689
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Handle: RePEc:taf:jbemgt:v:16:y:2015:i:1:p:228-243
Template-Type: ReDIF-Article 1.0
Author-Name: Justo De Jorge Moreno
Author-X-Name-First: Justo De Jorge
Author-X-Name-Last: Moreno
Author-Name: Oscar Rojas Carrasco
Author-X-Name-First: Oscar Rojas
Author-X-Name-Last: Carrasco
Title: Evolution of efficiency and its determinants in the retail sector in Spain: new evidence
Abstract:
The purpose of this work is twofold: on the one hand, recent methodologies
will be used to estimate technical efficiency and its determinants factors
in Spain's retail sector. In particular, the order-m
approach, which is based on the concept of expected minimum input function
and quantile regression, for the analysis of the factors determinants of
efficiency is used. On the other hand, the results obtained applying the
methods mentioned in the Spanish retail sector can contribute to opening
up a new field of analysis since the results may be compared by means of
the methodologies proposed as well as those which already exist in the
literature.The paper used data envelopment analysis stochastic
(order-m) to measure efficiency and quantile regression
analysis for the second stage in Spanish retail.For the second stage of
analysis relative of the factors determinants of efficiency, we use
quantile regression. We take account of heterogeneity between the
different characteristics of firms, using quantile regression techniques.
We find that firm size, age and market concentration are positively
related to the efficiency along the quantiles considered in the analysis.
The relationship between intensity of capital and better trained employees
in the efficiency shows a curvilinear behavior. Also, there are
significant differences by region to which the firm belongs.The main
contribution of this paper is to provide an efficiency analysis for
Spanish retail sector using a non parametric approach with a robust
estimator and quantile regression analysis for second stage. This
methodology allows for a more careful analysis of what happens at firm
level.
Journal: Journal of Business Economics and Management
Pages: 244-260
Issue: 1
Volume: 16
Year: 2015
Month: 2
X-DOI: 10.3846/16111699.2012.732958
File-URL: http://hdl.handle.net/10.3846/16111699.2012.732958
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Handle: RePEc:taf:jbemgt:v:16:y:2015:i:1:p:244-260
Template-Type: ReDIF-Article 1.0
Author-Name: Joanna Ejdys
Author-X-Name-First: Joanna
Author-X-Name-Last: Ejdys
Author-Name: Leonas Ustinovičius
Author-X-Name-First: Leonas
Author-X-Name-Last: Ustinovičius
Author-Name: Jelena Stankevičienė
Author-X-Name-First: Jelena
Author-X-Name-Last: Stankevičienė
Title: Innovative application of contemporary management methods in a knowledge-based economy - interdisciplinarity in science
Abstract:
Interdisciplinarity, which is a part of the research paradigm in all
fields of science, constitutes a real challenge in research. It manifests
itself particularly in the diversity of the undertaken research topics, in
the variety of the adopted research approaches (theoretical,
methodological, normative, empirical-descriptive), and in the flexibility
and the ability to see both the scientific problems as well as the
economic and social needs. The ability to cross the boundaries between the
fields of technical and social sciences, to identify problems and to seek
solutions at the frontiers of scientific disciplines, the eagerness to
work in research teams diverse in terms of competence, age and skills,
creating conditions for both the personal development and that of
individual team members, breaking the stereotypical ways of thinking in
the process of solving problems and anticipating future events are all
features of an academic culture nurtured by Professor Joanicjusz Nazarko.
The paper highlights the research of Professor Joanicjusz Nazarko,
presents a review of his extensive scientific work and lists some of his
publications.
Journal: Journal of Business Economics and Management
Pages: 261-274
Issue: 1
Volume: 16
Year: 2015
Month: 2
X-DOI: 10.3846/16111699.2014.986192
File-URL: http://hdl.handle.net/10.3846/16111699.2014.986192
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Handle: RePEc:taf:jbemgt:v:16:y:2015:i:1:p:261-274
Template-Type: ReDIF-Article 1.0
Author-Name: Marina Dabić
Author-X-Name-First: Marina
Author-X-Name-Last: Dabić
Author-Name: Darko Tipurić
Author-X-Name-First: Darko
Author-X-Name-Last: Tipurić
Author-Name: Najla Podrug
Author-X-Name-First: Najla
Author-X-Name-Last: Podrug
Title: Cultural differences affecting decision-making style: a comparative study between four countries
Abstract:
The aim of this paper was to identify the impact of national culture on
decision-making styles in selected countries: Croatia, Slovenia, Bosnia
and Herzegovina and Hungary. The estimation of Hofstede's dimensions of
national cultures and comparative analyses was carried out by using a
narrow-sample strategy. The estimated positions on each dimension
confirmed the Hofstede's original research ranking. The result with
significant value was the confirmation of the global trend of decreasing
power distance and significant movement towards the individualism. Besides
the standardization procedure of comparative cross-cultural analyses,
variance analyses were used to identify cultural differences in
decision-making styles related to complex decisions. The proposition is
that complex decisions are, above and beyond all others, the consequence
of social and cultural values installed in every individual. Statistically
significant dependency was identified for hyper-vigilant and vigilant
decision-making style and national culture's dimensions. A beneficial goal
was to identify the differences and the similarities in value orientation
and those in the decision-making style which should not be mistreated as
they may influence future business cooperation and political and economic
integrations within the CEE context.
Journal: Journal of Business Economics and Management
Pages: 275-289
Issue: 2
Volume: 16
Year: 2015
Month: 4
X-DOI: 10.3846/16111699.2013.859172
File-URL: http://hdl.handle.net/10.3846/16111699.2013.859172
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Handle: RePEc:taf:jbemgt:v:16:y:2015:i:2:p:275-289
Template-Type: ReDIF-Article 1.0
Author-Name: Sarfaraz Hashemkhani Zolfani
Author-X-Name-First: Sarfaraz
Author-X-Name-Last: Hashemkhani Zolfani
Author-Name: Reza Maknoon
Author-X-Name-First: Reza
Author-X-Name-Last: Maknoon
Author-Name: Edmundas Kazimieras Zavadskas
Author-X-Name-First: Edmundas Kazimieras
Author-X-Name-Last: Zavadskas
Title: Multiple nash equilibriums and evaluation of strategies. New application of MCDM methods
Abstract:
There are two different approaches in this study with different
implications. The first approach and the main aim of this study is a
methodological framework. There are different frameworks in solving game
theory topics involving at least two Nash Equilibriums. This study
presents a new framework for developing this part of game theory with MCDM
framework. The authors believe that at least there is a perspective or
paradigm behind each game theory topic, leading to the development of
strategies accordingly. For this purpose a hybrid MCDM method based on
SWARA-WASPAS is applied in the process of research for evaluating the
strategies. The general topic of this research is in supply chain
management field. This research also focuses on this issue and implies
extend of the complication involved. An additional focus in the present
paper is on defining a game. This research addresses developing strategies
from only stable strategies to both normal and dynamic strategies. The
topic is established to find the best mixed strategy considering current
international and economical position of Iran against complicated
international relations' issues and specially sanction.
Journal: Journal of Business Economics and Management
Pages: 290-306
Issue: 2
Volume: 16
Year: 2015
Month: 4
X-DOI: 10.3846/16111699.2014.967715
File-URL: http://hdl.handle.net/10.3846/16111699.2014.967715
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Handle: RePEc:taf:jbemgt:v:16:y:2015:i:2:p:290-306
Template-Type: ReDIF-Article 1.0
Author-Name: Antonio Majocchi
Author-X-Name-First: Antonio
Author-X-Name-Last: Majocchi
Author-Name: Luciana Dalla Valle
Author-X-Name-First: Luciana
Author-X-Name-Last: Dalla Valle
Author-Name: Alfredo D'Angelo
Author-X-Name-First: Alfredo
Author-X-Name-Last: D'Angelo
Title: Internationalisation, cultural distance and country characteristics: a Bayesian analysis of SMEs financial performance
Abstract:
Relying on the accounting data of a panel of 403 Italian manufacturing
SMEs collected over a period of 5 years, we find results suggesting that
multinationality per se does not impact on the economic performance of
international small and medium sized firms. It is the characteristics of
the country selected, i.e. the political hazard, the financial stability
and the economic performance, that significantly influence SMEs financial
performance. The management implication for small and medium sized firms
selecting and entering new geographic markets is significant, since our
results show that for SMEs it is the market selection process that really
matters and not the degree of multinationality.
Journal: Journal of Business Economics and Management
Pages: 307-324
Issue: 2
Volume: 16
Year: 2015
Month: 4
X-DOI: 10.3846/16111699.2012.720600
File-URL: http://hdl.handle.net/10.3846/16111699.2012.720600
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Handle: RePEc:taf:jbemgt:v:16:y:2015:i:2:p:307-324
Template-Type: ReDIF-Article 1.0
Author-Name: Rasa Smaliukiene
Author-X-Name-First: Rasa
Author-X-Name-Last: Smaliukiene
Author-Name: Lai Chi-Shiun
Author-X-Name-First: Lai
Author-X-Name-Last: Chi-Shiun
Author-Name: Indre Sizovaite
Author-X-Name-First: Indre
Author-X-Name-Last: Sizovaite
Title: Consumer value co-creation in online business: the case of global travel services
Abstract:
This paper aims to examine the application of value co-creation approach
in online travel service based on service-dominant logic. Drawing on
recent works, the research indicates travellers as co-creators of value
and emphasizes the development of customer-supplier interaction. The paper
presents three case studies to analyse global travel service suppliers'
(service providers) behaviour: CouchSurfing International, Inc.;
TripAdvisor LLC, AirBnbINc. Case studies analysis is followed by
netnographic research of 22 different discussions (1243 records) in online
forums related to selected service suppliers. The research findings
suggest that value co-creation approach can be effectively used to analyse
processes in global online travel service section. The originality of the
paper lies in exploring the contribution of co-creation approach which
allowed to identify the patterns of actions and behaviour of the online
travel service providers and their consumers. As an additional value of
the research, it was found that the online travel service providers
integrate customer-to-customer interactions as a value co-creation in
their platforms using consumers' resources such as time, knowledge and
experience.
Journal: Journal of Business Economics and Management
Pages: 325-339
Issue: 2
Volume: 16
Year: 2015
Month: 4
X-DOI: 10.3846/16111699.2014.985251
File-URL: http://hdl.handle.net/10.3846/16111699.2014.985251
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Handle: RePEc:taf:jbemgt:v:16:y:2015:i:2:p:325-339
Template-Type: ReDIF-Article 1.0
Author-Name: José Luis Gallizo
Author-X-Name-First: José Luis
Author-X-Name-Last: Gallizo
Author-Name: Jordi Moreno
Author-X-Name-First: Jordi
Author-X-Name-Last: Moreno
Author-Name: Manuel Salvador
Author-X-Name-First: Manuel
Author-X-Name-Last: Salvador
Title: European banking integration: is foreign ownership affecting banking efficiency?
Abstract:
The aim of this study is to analyze how European integration and,
especially, changes in ownership, has affected banking efficiency in
Central and Eastern European countries which have recently experimented
this process more intensely. Using a stochastic frontier approach, applied
to panel data, we have estimated bank efficiency levels in a sample of 189
banks from 12 countries during the period 2000 to 2008 and we have
analyzed the influence of some bank characteristics on these efficiency
levels. The results show that European integration has significantly
improved the cost efficiency of banks in these countries, but profit
efficiency has significantly decreased. We have found very small
differences between different ownership types and only a very small impact
of foreign ownership on cost efficiency, showing that the entry of foreign
ownership is not enough to explain the significant variations in banking
efficiency after the accession.
Journal: Journal of Business Economics and Management
Pages: 340-368
Issue: 2
Volume: 16
Year: 2015
Month: 4
X-DOI: 10.3846/16111699.2013.769023
File-URL: http://hdl.handle.net/10.3846/16111699.2013.769023
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Handle: RePEc:taf:jbemgt:v:16:y:2015:i:2:p:340-368
Template-Type: ReDIF-Article 1.0
Author-Name: Mahmut Demir
Author-X-Name-First: Mahmut
Author-X-Name-Last: Demir
Author-Name: Sirvan Sen Demir
Author-X-Name-First: Sirvan Sen
Author-X-Name-Last: Demir
Author-Name: Kevin Nield
Author-X-Name-First: Kevin
Author-X-Name-Last: Nield
Title: The relationship between person-organization fit, organizational identification and work outcomes
Abstract:
The purpose of this research is to analyse the relationship of
person-organization fit in hotels through organizational identification,
job performance, production deviance behavior, and the intention to
remain. To achieve this, first the literature was consulted to provide a
conceptual model. Through conducting a face-to-face interview, a total of
582 questionnaires were collected from employees who were full-time
employees of the five-star hotels operating within the Mugla region of
Turkey. The data obtained from the survey was analysed via the statistics
program; within this explanatory and confirmatory factor analyses were
performed within the framework of Structural Equation Modelling. The study
concluded and identified, that external factors, namely
"person-organization fit", have an effect on internal factors such as
"organizational identification", "job performance", "production deviance"
and the "intention to remain". The empirical results indicate that
person-organization fit has a significant and positive influence on
organizational identification, job performance and intention to remain,
while has a significant and negative influence on production deviance
behavior. The results also indicate that the organizational identification
has an important effect on job performance, intention to remain and
production deviance behavior.
Journal: Journal of Business Economics and Management
Pages: 369-386
Issue: 2
Volume: 16
Year: 2015
Month: 4
X-DOI: 10.3846/16111699.2013.785975
File-URL: http://hdl.handle.net/10.3846/16111699.2013.785975
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Handle: RePEc:taf:jbemgt:v:16:y:2015:i:2:p:369-386
Template-Type: ReDIF-Article 1.0
Author-Name: Jana Hanclova
Author-X-Name-First: Jana
Author-X-Name-Last: Hanclova
Author-Name: Petr Doucek
Author-X-Name-First: Petr
Author-X-Name-Last: Doucek
Author-Name: Jakub Fischer
Author-X-Name-First: Jakub
Author-X-Name-Last: Fischer
Author-Name: Kristyna Vltavska
Author-X-Name-First: Kristyna
Author-X-Name-Last: Vltavska
Title: Does ICT capital affect economic growth in the EU-15 and EU-12 countries?
Abstract:
The paper examines economic growth in old and new member countries of the
European Union (EU-15 and EU-12) during the years of 1994-2000 and
2001-2008 mainly due to changes in information and communication
technology (ICT) capital development. The first group EU-15 is presented
by old EU countries and the second group EU-12 is presented by new member
countries that joined the EU in 2004-2007. The threefactor Cobb-Douglas
production function is estimated through the panel general least squares
method. The input factors that might influence the economic growth are
labour, ICT capital services and non-ICT capital services. Since ICT
capital growth data are not available for all selected economies, the
groups of countries were reduced to EU-14 and EU-7. The estimated panel
production functions confirmed that the average growth of GDP in the EU-7
countries was supported by the stable growth of labour quantity and
ICT-capital and increasing total factor productivity. A short-term drop in
non-ICT capital growth with follow-up stagnation was caused rather by
lower labour productivity. The research discovered that the drop in GDP
growth in the EU-14 countries was a result of the slower growth of non-ICT
capital and total factor productivity and the stagnated growth of ICT
capital with low elasticity, and showed that even the compensation of
growth in labour quality did not prevent a decrease in total factor
productivity and economic growth.
Journal: Journal of Business Economics and Management
Pages: 387-406
Issue: 2
Volume: 16
Year: 2015
Month: 4
X-DOI: 10.3846/16111699.2012.754375
File-URL: http://hdl.handle.net/10.3846/16111699.2012.754375
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Handle: RePEc:taf:jbemgt:v:16:y:2015:i:2:p:387-406
Template-Type: ReDIF-Article 1.0
Author-Name: Bolaji Tunde Matemilola
Author-X-Name-First: Bolaji Tunde
Author-X-Name-Last: Matemilola
Author-Name: Rubi Ahmad
Author-X-Name-First: Rubi
Author-X-Name-Last: Ahmad
Title: Debt financing and importance of fixed assets and goodwill assets as collateral: dynamic panel evidence
Abstract:
This article analyses the effect of fixed assets and goodwill assets on
South African firms' debt ratios. The difference and system generalized
method of moment estimation results reveal that fixed assets and goodwill
assets have significant and positive relationship with firms' debt ratios.
To secure long-term debt, fixed assets and goodwill assets are required as
collateral by creditors. Our results show firms' adjust to long-run
optimal debt level, but at a slow adjustment rate. Our results suggest
there are costs preventing South African firms from adjusting faster to
their long-run optimal debt level. The practical implication of the paper
is that policy makers should promote policies that encourage further
development of the capital market. Moreover, firms need both fixed assets
and goodwill assets as collateral to raise the desired optimal debt that
maximizes firm value.
Journal: Journal of Business Economics and Management
Pages: 407-421
Issue: 2
Volume: 16
Year: 2015
Month: 4
X-DOI: 10.3846/16111699.2013.772916
File-URL: http://hdl.handle.net/10.3846/16111699.2013.772916
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Handle: RePEc:taf:jbemgt:v:16:y:2015:i:2:p:407-421
Template-Type: ReDIF-Article 1.0
Author-Name: Doris Omerzel Gomezelj
Author-X-Name-First: Doris Omerzel
Author-X-Name-Last: Gomezelj
Author-Name: Boštjan Antončič
Author-X-Name-First: Boštjan
Author-X-Name-Last: Antončič
Title: Employees' knowledge determinants in SMEs: the case of Slovenia
Abstract:
This paper presents various definitions of knowledge as human capital, and
analyses some fundamental challenges regarding the measurement of
employees' knowledge of a firm, especially in small and medium enterprises
(SMEs). The paper reviews the literature pertaining to the assessment of
knowledge assets, proceeds to develop a model of SME employees' knowledge,
and presents the results of an empirical test conducted among 173
Slovenian SMEs. Scales were tested for reliability and validity. A
structural equation modelling technique was used to verify the
theoretically proposed model of the employees' knowledge. The
multidimensionality of the developed SME knowledge construct was
confirmed. The proposed model of the employees' knowledge consists of five
main dimensions: innovation capabilities and willingness to learn,
attitude, job qualification, formal education, and work experience. To
verify and confirm the proposed model, an exploratory and confirmatory
factor analysis was performed. The new construct and concept developed in
this study offers a near complete picture that can be used as a research
framework in future examinations of the importance of knowledge for SME
performance.
Journal: Journal of Business Economics and Management
Pages: 422-444
Issue: 2
Volume: 16
Year: 2015
Month: 4
X-DOI: 10.3846/16111699.2012.734326
File-URL: http://hdl.handle.net/10.3846/16111699.2012.734326
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Handle: RePEc:taf:jbemgt:v:16:y:2015:i:2:p:422-444
Template-Type: ReDIF-Article 1.0
Author-Name: Zélia Serrasqueiro
Author-X-Name-First: Zélia
Author-X-Name-Last: Serrasqueiro
Author-Name: Ana Caetano
Author-X-Name-First: Ana
Author-X-Name-Last: Caetano
Title: Trade-Off Theory versus Pecking Order Theory: capital structure decisions in a peripheral region of Portugal
Abstract:
This paper seeks to analyse whether the capital structure decisions of
Small and Medium-Sized Enterprises (SMEs) are closer to the assumptions of
Trade-Off Theory or to those of Pecking Order Theory. We use a sample of
SMEs located in the interior region of Portugal, using the LSDVC dynamic
estimator as method of estimation, the empirical evidence obtained allows
us to conclude that the most profitable and oldest SMEs resort less to
debt, which corroborates the forecasts of Pecking Order Theory. SMEs, with
greater size, resort more to debt, corroborating the forecasts of
Trade-Off Theory and Pecking Order Theory. In addition, SMEs adjust
noticeably their current level of debt towards the optimal debt ratio,
which corroborates what is forecast by Trade-Off Theory. Therefore, this
paper enhances that Trade-Off and Pecking Order Theories are not mutually
exclusive in explaining the capital structure decisions of SMEs. The
results suggest that younger and smaller SMEs should be object of public
financing support, when the internal financing is clearly insufficient to
fund those firms' activities.
Journal: Journal of Business Economics and Management
Pages: 445-466
Issue: 2
Volume: 16
Year: 2015
Month: 4
X-DOI: 10.3846/16111699.2012.744344
File-URL: http://hdl.handle.net/10.3846/16111699.2012.744344
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Handle: RePEc:taf:jbemgt:v:16:y:2015:i:2:p:445-466
Template-Type: ReDIF-Article 1.0
Author-Name: Silvia Martelo-Landroguez
Author-X-Name-First: Silvia
Author-X-Name-Last: Martelo-Landroguez
Author-Name: Carmen Barroso-Castro
Author-X-Name-First: Carmen
Author-X-Name-Last: Barroso-Castro
Author-Name: Gabriel Cepeda
Author-X-Name-First: Gabriel
Author-X-Name-Last: Cepeda
Title: The cycle of customer value: a model integrating customer and firm perspectives
Abstract:
The aim of this paper is to contribute to the strategic management
literature by identifying a relationship between customer value seen from
the customer perspective and customer value seen from the firm
perspective, and how this relationship might affect the value created for
the customer. We propose that such a relationship exists, and attempt to
create an integrated view of customer value. We have not found any papers
that focus on the relationship between these two perspectives of customer
value, and our aim is to bridge this gap in the literature. Thus, the
authors test, in a quantitative study utilizing structural equation models
(SEM), how a firm should create value in order to be perceived by the
customers, and how this value could be appropriated in the international
banking industry. The results show to the managers that value creation
impacts on perceived value but not on value appropriation.
Journal: Journal of Business Economics and Management
Pages: 467-481
Issue: 2
Volume: 16
Year: 2015
Month: 4
X-DOI: 10.3846/16111699.2013.770788
File-URL: http://hdl.handle.net/10.3846/16111699.2013.770788
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Handle: RePEc:taf:jbemgt:v:16:y:2015:i:2:p:467-481
Template-Type: ReDIF-Article 1.0
Author-Name: Sonia Benito-Hernández
Author-X-Name-First: Sonia
Author-X-Name-Last: Benito-Hernández
Author-Name: Cristina López-Cózar-Navarro
Author-X-Name-First: Cristina
Author-X-Name-Last: López-Cózar-Navarro
Author-Name: Tiziana Priede-Bergamini
Author-X-Name-First: Tiziana
Author-X-Name-Last: Priede-Bergamini
Title: Examining the relationship between firm size and external advice on legal matters and human resources by family businesses
Abstract:
In this paper the authors study the relationship between the use of
external advice and the size of a Spanish family business, focusing
especially on the advice on legal matters and human resources, due to the
importance of these particular issues for family firms. To fulfill this
objective, an in-depth review of the literature has been performed, as
well as an empirical study. The results show that a family nature of
business has a positive impact in the use of human resources management
external advice. Nevertheless, for legal advice no relationship can be
found. Finally, in line with the literature and the results of the
analysis, no positive relationship has been found between family business
size and the use of external advice, in comparison to the results for
companies in general. The scarcity of published work about the issue and
the results obtained, especially those related to the use of legal advice
for family business managers, make this paper useful for researchers and
businesses managers.
Journal: Journal of Business Economics and Management
Pages: 483-509
Issue: 3
Volume: 16
Year: 2015
Month: 6
X-DOI: 10.3846/16111699.2013.773939
File-URL: http://hdl.handle.net/10.3846/16111699.2013.773939
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Handle: RePEc:taf:jbemgt:v:16:y:2015:i:3:p:483-509
Template-Type: ReDIF-Article 1.0
Author-Name: Marinko Škare
Author-X-Name-First: Marinko
Author-X-Name-Last: Škare
Author-Name: Lorena Mošnja-Škare
Author-X-Name-First: Lorena
Author-X-Name-Last: Mošnja-Škare
Title: Gibson paradox revisited - liquidity chain effect
Abstract:
Gibson paradox remains a puzzle in the discipline of economics. Previous
studies attempted to resolve the paradox looking separately at the gold
standard, changing monetary regimes, inflation expectations, risk and
uncertainty. Our study shows Gibson paradox holds for the Netherlands
1800-2012 with real long interest rates and prices diverging after 2008.
This paper offers empirical evidence (nonlinear cointegration) on the
integrity of the Gibson paradox. Single factor cannot explain the paradox
itself (because of its nonlinear nature) as previous studies attempted.
Empirical link between long interest rates and prices is caused by complex
interaction between purchasing power, liquidity, gold prices, market
turnover, stocks accumulation, productivity, short-term interest rates.
This approach analysis the purchasing power and price relation, resulting
in firms' turnover and liquidity shifts, leading to short-term borrowings
changes and pressures on interest rates in the short as well as in
long-term. Actually, the model enables us to track the series of price
change effects finally resulting in interest rates shifts, via a set of
microeconomic and financial laws, which taken at the aggregate level could
offer the Gibson paradox explanation. Further studies must explore
nonlinear nature of the paradox in order to explain it. Study results have
important implications for policy makers and firm governance policy.
Journal: Journal of Business Economics and Management
Pages: 510-528
Issue: 3
Volume: 16
Year: 2015
Month: 6
X-DOI: 10.3846/16111699.2014.984753
File-URL: http://hdl.handle.net/10.3846/16111699.2014.984753
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Handle: RePEc:taf:jbemgt:v:16:y:2015:i:3:p:510-528
Template-Type: ReDIF-Article 1.0
Author-Name: Rytis Krušinskas
Author-X-Name-First: Rytis
Author-X-Name-Last: Krušinskas
Author-Name: Jurgita Bruneckienė
Author-X-Name-First: Jurgita
Author-X-Name-Last: Bruneckienė
Title: Measurement of intellectual capital of Lithuanian cities by a composite index
Abstract:
The article comprises analysis of theoretical and practical aspects of
measurement of the city's intellectual capital. This article includes
analysis of the intellectual capital concept and possibilities of its
application at the city level, generalization of the organization
intellectual capital models and principles, which, considering the
macro-level context and overview of tendencies of economic growth, are
applied for measurement of intellectual capital of the city. The newly
created city's intellectual capital balance index is presented. The
empirical application of the method proved that it is an appropriate tool
for the measurement of the city's intellectual capital within a country,
which corresponds to the second level NUTS of the European Union. This
article is one of the ambitions to promote the methodological background
for urban governance and improvement of intellectual capital as well as
competitiveness of Lithuanian cities. The city's intellectual capital
balance index can be used as the tool for assessment of efficiency and
timeliness of the urban and national development strategies, also as the
tool for publicity for innovation, creativity and "smartness" of the city
or the whole country.
Journal: Journal of Business Economics and Management
Pages: 529-541
Issue: 3
Volume: 16
Year: 2015
Month: 6
X-DOI: 10.3846/16111699.2012.729155
File-URL: http://hdl.handle.net/10.3846/16111699.2012.729155
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Handle: RePEc:taf:jbemgt:v:16:y:2015:i:3:p:529-541
Template-Type: ReDIF-Article 1.0
Author-Name: Mário S. Santos
Author-X-Name-First: Mário S.
Author-X-Name-Last: Santos
Author-Name: António C. Moreira
Author-X-Name-First: António C.
Author-X-Name-Last: Moreira
Author-Name: Elisabete S. Vieira
Author-X-Name-First: Elisabete S.
Author-X-Name-Last: Vieira
Title: Governance with complex structures: evidence from Western European countries
Abstract:
This paper investigates if the existence of complex structures plays an
important role in corporate governance. It uses GMM estimation on a panel
of Western European firms. We find that the presence of a second and third
large shareholder has a significant positive effect on firm value. This
study underlines the importance of the number of blockholders as a
determinant of firm value, when taken as a moderator of the contestability
effect. It shows that the legal context and company-specific
characteristics play a crucial moderating role for contestability. In
contrast to previous research, we find that contestability plays a less
relevant role in family firms. We also find that this last result does not
vary significantly with the identity of the remaining elements of the
coalition. Also, our study suggests that contestability is less important
in companies led by majority shareholders.
Journal: Journal of Business Economics and Management
Pages: 542-557
Issue: 3
Volume: 16
Year: 2015
Month: 6
X-DOI: 10.3846/16111699.2013.772915
File-URL: http://hdl.handle.net/10.3846/16111699.2013.772915
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Handle: RePEc:taf:jbemgt:v:16:y:2015:i:3:p:542-557
Template-Type: ReDIF-Article 1.0
Author-Name: Asta Valackienė
Author-X-Name-First: Asta
Author-X-Name-Last: Valackienė
Author-Name: Diana Micevičienė
Author-X-Name-First: Diana
Author-X-Name-Last: Micevičienė
Title: Promoting socially responsible business at enterprise level: theoretical approach
Abstract:
The paper highlights theoretical construct of the new methodological
approach presenting the interaction between the corporate social
responsibility and the performance of the sustainable enterprise, through
the introduction of the methodological framework of the diagnosis of
corporate social responsibility motivations at the level of a firm seeking
to sustain. Acting without knowing all (or at least enough) the answers
may mean that we purposely shift our focus to those areas where possible
solutions do not emerge. However, entrepreneurship as a phenomenon
entailing risk and high levels in daily activities is an engine by
profit-seeking motives. It shows the complexity of the scientific research
object that brings meaningful input into the analysis of the promotion of
socially responsible business. This paper aims at discussing and
presenting critical reviews of enterprise's commitment to corporate social
responsibility with emphasis on methodological positions in its promotion.
This implicates a shift from the pure stakeholder perspective of
maximizing profits thought introduction of enterprise - level
interventions in promoting socially responsible business.
Journal: Journal of Business Economics and Management
Pages: 558-570
Issue: 3
Volume: 16
Year: 2015
Month: 6
X-DOI: 10.3846/16111699.2012.745814
File-URL: http://hdl.handle.net/10.3846/16111699.2012.745814
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Handle: RePEc:taf:jbemgt:v:16:y:2015:i:3:p:558-570
Template-Type: ReDIF-Article 1.0
Author-Name: Carlo Bagnoli
Author-X-Name-First: Carlo
Author-X-Name-Last: Bagnoli
Author-Name: Claudio Giachetti
Author-X-Name-First: Claudio
Author-X-Name-Last: Giachetti
Title: Aligning knowledge strategy and competitive strategy in small firms
Abstract:
Despite the claim of more and more scholars that there is a need to align
knowledge strategies with competitive strategies, little research allows
for more precise conceptualizations concerning this problem of inter-level
strategic fit, and few have attempted an empirical investigation. This is
especially true in the specific context of small firms (SFs), despite the
fact, that their knowledge-based resources are more important than their
property-based resources. This study aims to investigate, through a
quali-quantitative analysis carried out on a sample of SFs in northeast
Italy, the alignment between knowledge strategies and competitive
strategies. We have identified two types of competitive strategies pursued
by SFs, i.e. human resource-based (HR-based) and product and customer
service quality-based (PCSQ-based). We have also identified two types of
internal knowledge strategy, i.e. exploitation strategy of internal
knowledge, and exploration strategy of internal knowledge, as well as two
types of external knowledge strategy, i.e. exploitation strategy of
external knowledge, and exploration strategy of external knowledge. Our
findings reveal that SFs pursuing HR-based competitive strategies tend to
adopt exploitation strategies of both internal and external knowledge,
while firms pursuing PCSQ-based competitive strategies tend to adopt
exploration strategies of both internal and external knowledge.
Journal: Journal of Business Economics and Management
Pages: 571-598
Issue: 3
Volume: 16
Year: 2015
Month: 6
X-DOI: 10.3846/16111699.2012.707623
File-URL: http://hdl.handle.net/10.3846/16111699.2012.707623
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Handle: RePEc:taf:jbemgt:v:16:y:2015:i:3:p:571-598
Template-Type: ReDIF-Article 1.0
Author-Name: Hui-Lin Lin
Author-X-Name-First: Hui-Lin
Author-X-Name-Last: Lin
Author-Name: Yi-Chi Hsiao
Author-X-Name-First: Yi-Chi
Author-X-Name-Last: Hsiao
Author-Name: Eric S. Lin
Author-X-Name-First: Eric S.
Author-X-Name-Last: Lin
Title: Do different types of FDI strategies spur productivity and innovation capability growth? Evidence from Taiwanese manufacturing firms
Abstract:
Based on different motivations for engaging in outward FDI, this study
divides firms' outward FDI into five types: non-FDI, FDI, defensive only
outward FDI, expansive only outward FDI, and both defensive & expansive
outward FDI simultaneously, and proposes four hypotheses to evaluate their
relative strength in terms of firm productivity and innovation capability.
The propensity score matching estimator based on a uniquely compiled
Taiwanese manufacturing data set shows that, as firms engage in outward
FDI, they have higher productivity growth rates compared to non-FDI firms.
As for the further disengagement of the impacts of outward FDI, our
empirical results indicate that expansive outward FDI tends to strengthen
firms' productivity growth, while such a growth-boosting effect is not
statistically significant for defensive outward FDI. Moreover, as far as
firms undertaking defensive & expansive outward FDI simultaneously are
concerned, we also find a positive and significant impact of outward FDI
on productivity growth, but the effect is not as large as that for firms
engaging solely in expansive outward FDI. This may imply that defensive
outward FDI has some adverse effects on firms' productivity growth. As
firm performance is measured by innovation growth, the average treatment
effects are all significantly positive regardless of the type of outward
FDI strategies. Nevertheless, engaging in defensive outward FDI is less
advantageous to innovation growth than the expansionary outward FDI, as
well as to defensive & expansive outward FDI simultaneously.
Journal: Journal of Business Economics and Management
Pages: 599-620
Issue: 3
Volume: 16
Year: 2015
Month: 6
X-DOI: 10.3846/16111699.2012.732957
File-URL: http://hdl.handle.net/10.3846/16111699.2012.732957
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Handle: RePEc:taf:jbemgt:v:16:y:2015:i:3:p:599-620
Template-Type: ReDIF-Article 1.0
Author-Name: Milos Maryska
Author-X-Name-First: Milos
Author-X-Name-Last: Maryska
Author-Name: Jaroslav Wagner
Author-X-Name-First: Jaroslav
Author-X-Name-Last: Wagner
Title: Reference model of business informatics economics management
Abstract:
This paper is devoted to issues connected with processes that can be used
for the management of economic efficiency of business informatics with the
support in the area of Business Intelligence. We analyze the processes of
the management of business informatics economics. We propose new model
that takes into account requirements on the management of economic
efficiency necessitated by accounting, managers of companies, differences
in the method of accounting of business informatics cost and profits etc.
Our model provides information that helps to define prices and costs for
services provided by business informatics to other in-house units,
provides information for cost analysis of each employee, total cost of
each IS/ICT section, identifying the total costs of business informatics
etc.
Journal: Journal of Business Economics and Management
Pages: 621-637
Issue: 3
Volume: 16
Year: 2015
Month: 6
X-DOI: 10.3846/16111699.2013.789449
File-URL: http://hdl.handle.net/10.3846/16111699.2013.789449
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Handle: RePEc:taf:jbemgt:v:16:y:2015:i:3:p:621-637
Template-Type: ReDIF-Article 1.0
Author-Name: José María Agudo
Author-X-Name-First: José María
Author-X-Name-Last: Agudo
Author-Name: Pilar Gargallo
Author-X-Name-First: Pilar
Author-X-Name-Last: Gargallo
Author-Name: Manuel Salvador
Author-X-Name-First: Manuel
Author-X-Name-Last: Salvador
Title: Measuring corporative social performance in firms: a Bayesian factor analysis approach
Abstract:
This paper proposes a new empirical procedure for measuring Corporate
Social Performance in firms, taking the Carroll model and the Stakeholder
theory as theoretical supports. To that aim we use a second order factor
model and we adopt a Bayesian approach that allows us to carry out a more
effective statistical treatment of the missing data, using all the
available information and without appealing to asymptotic results.
Furthermore, we identify significant patterns of firm's behavior by means
of novel statistical classification techniques and we analyze which
aspects of Corporate Social Responsibility are less developed. The
methodology is applied to a sample of Spanish firms. Our results show that
there is a positive relationship between the firms Corporate Social
Performance and their size, degree of Corporate Social Responsibility
awareness and stakeholder pressure. However, Corporate Social
Responsibility is not well-known in micro and small Spanish firms, which
leads to a low level of implementation.
Journal: Journal of Business Economics and Management
Pages: 638-659
Issue: 3
Volume: 16
Year: 2015
Month: 6
X-DOI: 10.3846/16111699.2012.745816
File-URL: http://hdl.handle.net/10.3846/16111699.2012.745816
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Handle: RePEc:taf:jbemgt:v:16:y:2015:i:3:p:638-659
Template-Type: ReDIF-Article 1.0
Author-Name: Soo-Wah Low
Author-X-Name-First: Soo-Wah
Author-X-Name-Last: Low
Author-Name: Lain-Tze Tee
Author-X-Name-First: Lain-Tze
Author-X-Name-Last: Tee
Author-Name: Si-Roei Kew
Author-X-Name-First: Si-Roei
Author-X-Name-Last: Kew
Title: Does the quality of governance matter for equity market risk? Evidence from emerging and developed equity markets
Abstract:
This paper examines the relation between country-level governance and
cross-country differences in equity market risk by employing panel data
regressions. For emerging markets, we find consistent evidence that
governance quality of various dimensions is negatively related to equity
market risk. On the contrary, for developed markets, the results show that
there is generally little or no relation between governance quality and
equity market risk. The results provide practical implication to policy
makers of emerging markets by highlighting the relevant governance
dimensions that constitute important drivers of stock market risk. The
findings have academic implication in the context of equilibrium pricing
of stock market in emerging market.
Journal: Journal of Business Economics and Management
Pages: 660-674
Issue: 3
Volume: 16
Year: 2015
Month: 6
X-DOI: 10.3846/16111699.2012.720595
File-URL: http://hdl.handle.net/10.3846/16111699.2012.720595
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Handle: RePEc:taf:jbemgt:v:16:y:2015:i:3:p:660-674
Template-Type: ReDIF-Article 1.0
Author-Name: Tomáš Buus
Author-X-Name-First: Tomáš
Author-X-Name-Last: Buus
Title: A general free cash flow theory of capital structure
Abstract:
This paper provides general framework for handling time-varying cost of
capital, leverage, tax rates, and capital values in a dynamic free cash
flow theory of capital structure. That enables efficient analysis of the
recent competing theories of capital structure. After including the costs
of financial distress and risk premium of debt in the cash flow model,
this paper provides a new look at cost of tax shield from the point of
view of risk-return relationship. Cost of tax shield is not constant, but
depends on leverage and is mostly between cost of assets and cost of debt.
Moreover the simulation of firm value and capital structure in presence of
taxes, risk, and growth shows that unique optimal leverages exist for each
combination of the above factors. The risk-enhanced cash flow theory can
explain both the observations, which support pecking order theory, free
cash flow theory and tradeoff theory of capital structure. Moreover it
fits some evidence, which resists these theories: highly leveraged low
growth companies and moderately leveraged large profitable companies.
Journal: Journal of Business Economics and Management
Pages: 675-695
Issue: 3
Volume: 16
Year: 2015
Month: 6
X-DOI: 10.3846/16111699.2013.770787
File-URL: http://hdl.handle.net/10.3846/16111699.2013.770787
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Handle: RePEc:taf:jbemgt:v:16:y:2015:i:3:p:675-695
Template-Type: ReDIF-Article 1.0
Author-Name: Doojin Ryu
Author-X-Name-First: Doojin
Author-X-Name-Last: Ryu
Title: Information content of inter-transaction time: A structural approach
Abstract:
This study examines the information role of inter-transaction time by
employing a structural market microstructure model. By analyzing the
intraday data of the KOSPI200 futures market, we find that the
inter-transaction time (i.e., time between two consecu- tive trades)
reveals significant information, and that fast trading is indicative of
informed trading. This result remains robust when the effect of trade size
is incorporated into the model. Our regression analysis indicates that the
information role of inter-transaction time becomes more important when
informed trading is less concentrated, liquidity is lower, and the market
is more volatile.
Journal: Journal of Business Economics and Management
Pages: 697-711
Issue: 4
Volume: 16
Year: 2015
Month: 8
X-DOI: 10.3846/16111699.2013.804873
File-URL: http://hdl.handle.net/10.3846/16111699.2013.804873
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Handle: RePEc:taf:jbemgt:v:16:y:2015:i:4:p:697-711
Template-Type: ReDIF-Article 1.0
Author-Name: Pierre Chaigneau
Author-X-Name-First: Pierre
Author-X-Name-Last: Chaigneau
Title: Aversion to the variability of pay and the structure of executive compensation contracts
Abstract:
This paper presents a new implication of an aversion toward the variance
of pay ("risk aversion") for the structure of managerial incentive
schemes. In a principal-agent model in which the effort of a manager with
mean-variance preferences affects the mean of a performance measure, we
find that managerial compensation must be such that the variance of
payments is decreasing in effort. From an ex-ante perspective, which is
relevant for effort inducement, this maximizes the rewards associated to
high effort, and the punishments associated to low effort. An important
practical implication is that convex incentive contracts do not satisfy
this necessary condition for optimality, which calls into question the
practice of granting executive stock options. The paper therefore
contributes to the debate on the efficiency of executive compensation.
Journal: Journal of Business Economics and Management
Pages: 712-732
Issue: 4
Volume: 16
Year: 2015
Month: 8
X-DOI: 10.3846/16111699.2014.959994
File-URL: http://hdl.handle.net/10.3846/16111699.2014.959994
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Handle: RePEc:taf:jbemgt:v:16:y:2015:i:4:p:712-732
Template-Type: ReDIF-Article 1.0
Author-Name: Pranas Zukauskas
Author-X-Name-First: Pranas
Author-X-Name-Last: Zukauskas
Author-Name: Jolita Vveinhardt
Author-X-Name-First: Jolita
Author-X-Name-Last: Vveinhardt
Author-Name: Borisas Melnikas
Author-X-Name-First: Borisas
Author-X-Name-Last: Melnikas
Author-Name: Martin Grančay
Author-X-Name-First: Martin
Author-X-Name-Last: Grančay
Title: Dynamics of Attack Actions in the Mobbing Strategy: The Case of Lithuania
Abstract:
The purpose of this research is to determine the occurrence and prevalence
of different mobbing actions used against a victim in the context of
Lithuanian organisations, taking into account the type of professional
activity.A questionnaire was created for the purpose of the research. The
reliability of the ques- tionnaire is demonstrated using indicators of the
methodological quality of characteristics. The research revealed that in
mobbing strategies, most bullying behaviour is interrelated and constructs
a particular system, which is driven by insulting communication, defama-
tion and isolation.The results draw the attention of managers of
organisations to the nature of unethical communication and the need to
protect dignity and reputation of employees and prevent mobbing and
bullying.An original instrument was developed and used to interview
mobbing and bullying vic- tims.
Journal: Journal of Business Economics and Management
Pages: 733-752
Issue: 4
Volume: 16
Year: 2015
Month: 8
X-DOI: 10.3846/16111699.2015.1068840
File-URL: http://hdl.handle.net/10.3846/16111699.2015.1068840
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Handle: RePEc:taf:jbemgt:v:16:y:2015:i:4:p:733-752
Template-Type: ReDIF-Article 1.0
Author-Name: Maja Zaman Groff
Author-X-Name-First: Maja
Author-X-Name-Last: Zaman Groff
Author-Name: Sergeja Slapničar
Author-X-Name-First: Sergeja
Author-X-Name-Last: Slapničar
Author-Name: Neža Štumberger
Author-X-Name-First: Neža
Author-X-Name-Last: Štumberger
Title: The influence of professional qualification on customer perceptions of accounting services quality and retention decisions
Abstract:
The purpose of this paper is to examine whether professional qualification
in- creases the quality of accounting services as perceived by the
customers. We advance the measurement of service quality by
industry-specific indicators and establish four dimen- sions of accounting
service quality. We analyse the impact of professional qualification on
these dimensions of quality and the impact of these dimensions on
customers' retention decisions. The analysis is based on survey data of
237 Slovenian small and micro firms that outsource accounting. We find
that professional qualification is positively associated with only one of
the perceived service quality dimensions - accounting competences - and
only assurance, responsiveness and reliability and empathy are positively
associated with customers' retention decisions. Limitations of the study
are attributed to the measure- ment of service quality as perceived by the
customers. However, this is the only factor of choice that ultimately
counts in the competitive market for accounting services.
Journal: Journal of Business Economics and Management
Pages: 753-768
Issue: 4
Volume: 16
Year: 2015
Month: 8
X-DOI: 10.3846/16111699.2013.858076
File-URL: http://hdl.handle.net/10.3846/16111699.2013.858076
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Handle: RePEc:taf:jbemgt:v:16:y:2015:i:4:p:753-768
Template-Type: ReDIF-Article 1.0
Author-Name: Nawar Hashem
Author-X-Name-First: Nawar
Author-X-Name-Last: Hashem
Author-Name: Larry Su
Author-X-Name-First: Larry
Author-X-Name-Last: Su
Title: Industry Concentration and the Cross-Section of Stock Returns: Evidence from the UK
Abstract:
In this paper, we examine the relationship between market structure and
ex- pected stock returns in the London Stock Exchange during 1985 and
2010. Using Fama- MacBeth regressions, we find that industry concentration
is negatively related to average stock returns, even after controlling for
beta, size, book-to-market equity, momentum, and leverage. In addition,
there is a strong evidence of a growth effect. Firms or industry
portfolios with smaller book-to-market ratios have significantly higher
returns. In contrast, beta is never statistically significant. The above
results are robust to firm- and industry- level regressions, and the
formation of firms into 100 size-beta portfolios. Our findings indicate
that competitive industries earn, on average, higher risk-adjusted returns
than concentrated industries. An explanation is that investors in more
competitive industries require larger premiums for greater distress risks
associated with these industries. Our paper is one of the first to link
market competition with the average stock returns in the UK, and
contributes to the asset pricing literature by extending the evidence from
the US to another important financial market.
Journal: Journal of Business Economics and Management
Pages: 769-785
Issue: 4
Volume: 16
Year: 2015
Month: 8
X-DOI: 10.3846/16111699.2013.833547
File-URL: http://hdl.handle.net/10.3846/16111699.2013.833547
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Handle: RePEc:taf:jbemgt:v:16:y:2015:i:4:p:769-785
Template-Type: ReDIF-Article 1.0
Author-Name: Bohumil Stádník
Author-X-Name-First: Bohumil
Author-X-Name-Last: Stádník
Author-Name: Algita Miečinskienė
Author-X-Name-First: Algita
Author-X-Name-Last: Miečinskienė
Title: Complex Model of Market Price Development and its Simulation
Abstract:
The purpose of this study is to suggest a complex model of market price
development for liquid assets, which is able to simulate all of the main
features particular to the real price development and has a realistic
financial explanation. First, the paper defines assumptions for the model
construction from empirically observed processes. Then, the model is
implemented in the real simulation environment. Finally, the ability of
the model is checked to simulate empirically observed features, e.g.
leptokurtic characteristics or skewness of the price distribution. Also,
this paper newly defines and implements the resonance effect. FFT analysis
is used to support oscillation processes. Finally, selected markets are
provided with parameter optimisation of the model based on empirical
observations. It was found that the model built under the previously
mentioned assumptions was able to explain empirically observed effects
that reversely support the correctness of those assumptions. The practical
value of the constructed model can be found in many areas, including risk
management and asset valuation.
Journal: Journal of Business Economics and Management
Pages: 786-807
Issue: 4
Volume: 16
Year: 2015
Month: 8
X-DOI: 10.3846/16111699.2015.1076028
File-URL: http://hdl.handle.net/10.3846/16111699.2015.1076028
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Handle: RePEc:taf:jbemgt:v:16:y:2015:i:4:p:786-807
Template-Type: ReDIF-Article 1.0
Author-Name: Pui Ting Chow
Author-X-Name-First: Pui Ting
Author-X-Name-Last: Chow
Author-Name: Sai On Cheung
Author-X-Name-First: Sai On
Author-X-Name-Last: Cheung
Author-Name: Chiu Yan Young
Author-X-Name-First: Chiu Yan
Author-X-Name-Last: Young
Author-Name: Chi Kit Wah
Author-X-Name-First: Chi Kit
Author-X-Name-Last: Wah
Title: The roles of withdrawal in the negotiator personality-tactic relationship
Abstract:
The personality of a negotiator shall affect his choice of tactics.
Moreover, mixed predictions of the personality-tactic relationship have
been derived from prior studies. One possible explanation is the influence
of other intervening factors. In this regard, this study examines the role
of withdrawal, as an intervening variable, in the negotiator
personality-tactic relationship. State of withdrawal refers to the level
of interest to continue with a negotiation. In a state of complete
withdrawal, the interest to continue no longer exists and breakdown of the
negotiation is inevitable. With the participation of practicing
professionals, an experiment was used to collect data for the study. It
was found that competitors are prone to withdraw and use more distributive
tactics. However, this pattern changes with the composition of the dyad.
If the negotiating counterpart is a cooperator, a competitor will adopt a
more integrative approach. This finding reminds the importance of the
personality factor in selecting members of a negotiating team.
Journal: Journal of Business Economics and Management
Pages: 808-821
Issue: 4
Volume: 16
Year: 2015
Month: 8
X-DOI: 10.3846/16111699.2012.761646
File-URL: http://hdl.handle.net/10.3846/16111699.2012.761646
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Handle: RePEc:taf:jbemgt:v:16:y:2015:i:4:p:808-821
Template-Type: ReDIF-Article 1.0
Author-Name: Laura Andreu
Author-X-Name-First: Laura
Author-X-Name-Last: Andreu
Author-Name: Cristina Ortiz
Author-X-Name-First: Cristina
Author-X-Name-Last: Ortiz
Author-Name: José Luis Sarto
Author-X-Name-First: José Luis
Author-X-Name-Last: Sarto
Title: Herding in Style Allocations
Abstract:
The study examines herding behavior in the strategic allocations of UK
pension plans. The results show that UK pension managers are involved in
cross-sectional herd behavior. The study also examines herding from a
quantitative perspective considering the number of managers changing their
style allocations and from an intertemporal perspec- tive to examine the
tendency of UK pension plans to imitate others over time. Finally, a
robustness analysis considering passive style portfolios is applied to
eliminate artificial herding. Hence, the paper contributes to the
literature by analyzing herding at strategic allocations instead of at the
individual stock level as well as by improving the methodol- ogy used to
capture the herding phenomenon. The results have practical implications to
design managers' compensation schemes due to their influence on manager
behavior.
Journal: Journal of Business Economics and Management
Pages: 822-844
Issue: 4
Volume: 16
Year: 2015
Month: 8
X-DOI: 10.3846/16111699.2012.754372
File-URL: http://hdl.handle.net/10.3846/16111699.2012.754372
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Handle: RePEc:taf:jbemgt:v:16:y:2015:i:4:p:822-844
Template-Type: ReDIF-Article 1.0
Author-Name: Dalia Susnienė
Author-X-Name-First: Dalia
Author-X-Name-Last: Susnienė
Author-Name: Ojaras Purvinis
Author-X-Name-First: Ojaras
Author-X-Name-Last: Purvinis
Title: Empirical Insights on Understanding Stakeholder Influence
Abstract:
The paper deals with the stakeholder management especially giving focus on
the organization's and stakeholder relationships issues. The purpose of
the paper is to construct a new methodological approach by developing
fuzzy logic model based on experts' knowledge for conceptual insights on
possible solutions for measuring stakeholders' influence. The objective of
the research includes identification of possible organization stakeholder
interactions considering stakeholders' influence according to such
attributes/ factors as interest, power, benevolence, and reliability. The
results reveal that fuzzy logic technique is a reliable and valid tool for
modelling and visualizing knowledge about stakeholders' influence on the
organization. Finally, the results were tested on the real business data
concerning stakeholders' influence. A contribution of this paper is the
application of fuzzy logic model to evaluate and/or predict stakeholders'
influence to the issues the organization seeks to solve and to provide
relevant information for the stakeholder relationships management.
Journal: Journal of Business Economics and Management
Pages: 845-860
Issue: 4
Volume: 16
Year: 2015
Month: 8
X-DOI: 10.3846/16111699.2013.785974
File-URL: http://hdl.handle.net/10.3846/16111699.2013.785974
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Handle: RePEc:taf:jbemgt:v:16:y:2015:i:4:p:845-860
Template-Type: ReDIF-Article 1.0
Author-Name: Gerardo Luís Angulo Cuentas
Author-X-Name-First: Gerardo Luís
Author-X-Name-Last: Angulo Cuentas
Author-Name: Jaime Alberto Camacho Pico
Author-X-Name-First: Jaime Alberto
Author-X-Name-Last: Camacho Pico
Author-Name: Astrid Jaime Arias
Author-X-Name-First: Astrid
Author-X-Name-Last: Jaime Arias
Title: Frameworks to Identify Best Practices at the Organization Level: An Analysis
Abstract:
This paper identifies and analyzes the existing frameworks for supporting
the identification and classification of best practices at an organization
level.The major contribution of this paper is the proposition and
application of three criteria for analyzing, comparing and classifying the
four identified frameworks. The first criterion is based on structural
complexity, facilitates defining the scope of initiatives to identify best
practices. The second one, based on the framework orientation, permits
choosing a framework depending of the type of studied processes. While the
third criterion based on organizational levels, permits comparing and
classifying the frameworks in terms of the strategic, tactic or
operational issues.In conclusion are outlined important aspects in the
selection of a framework according to two proposed scenarios: the best
practices searching on Organizations of Excellence and the best practices
searching on organizations with a similar business model.
Journal: Journal of Business Economics and Management
Pages: 861-875
Issue: 4
Volume: 16
Year: 2015
Month: 8
X-DOI: 10.3846/16111699.2012.745813
File-URL: http://hdl.handle.net/10.3846/16111699.2012.745813
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Handle: RePEc:taf:jbemgt:v:16:y:2015:i:4:p:861-875
Template-Type: ReDIF-Article 1.0
Author-Name: Wenqing Zhang
Author-X-Name-First: Wenqing
Author-X-Name-Last: Zhang
Author-Name: Prasad Padmanabhan
Author-X-Name-First: Prasad
Author-X-Name-Last: Padmanabhan
Author-Name: Chia-Hsing Huang
Author-X-Name-First: Chia-Hsing
Author-X-Name-Last: Huang
Title: Sequential capital investment decision making under extreme cash fl ow situations: evidence using Monte Carlo simulation
Abstract:
Uncertainty influences a decision maker's choices when making sequential
capital investment decisions. With the possibility of extremely negative
cash inflows, firms may need to curtail operations significantly.
Traditional Net Present Value analysis does not allow for efficient
management of these problems. In addition, firm managers may behave
irrationally by accepting negative Net Present Value projects in the short
term. This paper presents a Monte Carlo simulation based model to provide
policy insights on how to incorporate extreme cash flows and manager
irrationality scenarios into the capital budgeting process. This paper
presents evidence that firms with irrational managers and experiencing
extremely negative cash flows may, under certain conditions, reap long
term rewards associated with the acceptance of negative Net Present Value
projects in the short term. These benefits are largest if cost ratios
(discount rates) are small, or investment horizons are high. We argue that
acceptance of short term negative Net Present Value projects implies the
purchase of a long term real option which can generate positive long term
cash flows under certain conditions.
Journal: Journal of Business Economics and Management
Pages: 877-900
Issue: 5
Volume: 16
Year: 2015
Month: 10
X-DOI: 10.3846/16111699.2015.1039056
File-URL: http://hdl.handle.net/10.3846/16111699.2015.1039056
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Handle: RePEc:taf:jbemgt:v:16:y:2015:i:5:p:877-900
Template-Type: ReDIF-Article 1.0
Author-Name: Mu-Shun Wang
Author-X-Name-First: Mu-Shun
Author-X-Name-Last: Wang
Author-Name: Shih-Tong Lu
Author-X-Name-First: Shih-Tong
Author-X-Name-Last: Lu
Title: Information technology and risk factors for evaluating the banking industry in the Taiwan: an application of a Value Chain DEA
Abstract:
The main purpose of the paper is utilizing a new tool to measure the
marginal benefits of information technology on productivity based upon
identifying the two-stage best practice frontier. This study utilizes
value-chain data envelopment analysis to investigate the effects of
Information Technology and the trading activities of financial derivatives
on the technical efficiency of a bank's production process through a
two-stage analytical study with a firm-level data set. We find the impact
of indicators related to capital adequacy ratios, exchange rate
volatility, interest rate volatility, and long-term loans in relation to
capital and ownership structure. Technical efficient precedes a reduction
in problem loans, concentration of the operating units and developing
information technology and utilization of financial derivatives. This
paper provides a theoretical rationale and conceptualizing risk factors
with environmental uncertainty. The innovation variables are determinants
of the bank efficiency on Basel III Accord.
Journal: Journal of Business Economics and Management
Pages: 901-915
Issue: 5
Volume: 16
Year: 2015
Month: 10
X-DOI: 10.3846/16111699.2014.976255
File-URL: http://hdl.handle.net/10.3846/16111699.2014.976255
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Handle: RePEc:taf:jbemgt:v:16:y:2015:i:5:p:901-915
Template-Type: ReDIF-Article 1.0
Author-Name: Arvydas Kregzde
Author-X-Name-First: Arvydas
Author-X-Name-Last: Kregzde
Author-Name: Gediminas Murauskas
Author-X-Name-First: Gediminas
Author-X-Name-Last: Murauskas
Title: Analysis of Lithuanian credit default swaps
Abstract:
This paper studies international sovereign Credit Default Swaps (CDS)
market focusing attention to the CDS of Central and East Europe. The main
purpose of the study was to perform detail analysis of Lithuanian CDS in
the global capital market. We compared the CDS markets of other countries
and found some commonalities between them. We study the credit curve
produced by CDS and volatility of CDS. A great attention is paid to
investigate the relationship of CDS and the government bond market.
Analysis of finding a leading role of CDS and the bond markets in the
price discovering process is made. A leading market for different periods
is found by using the Vector Error Correction model. Our main finding is
that during the volatile period price discovery takes place in the bond
market and in the calm period price discovery is observed in the CDS
market. Disclosed relationship between CDS spreads and Eurobonds yield
risk premium gives an additional decision making tool for sovereign debt
managers.
Journal: Journal of Business Economics and Management
Pages: 916-930
Issue: 5
Volume: 16
Year: 2015
Month: 10
X-DOI: 10.3846/16111699.2014.890130
File-URL: http://hdl.handle.net/10.3846/16111699.2014.890130
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Handle: RePEc:taf:jbemgt:v:16:y:2015:i:5:p:916-930
Template-Type: ReDIF-Article 1.0
Author-Name: Young Hwan Lee
Author-X-Name-First: Young Hwan
Author-X-Name-Last: Lee
Author-Name: Sun A Kang
Author-X-Name-First: Sun A
Author-X-Name-Last: Kang
Author-Name: Sang Min Cho
Author-X-Name-First: Sang Min
Author-X-Name-Last: Cho
Title: The effect of voluntary IFRS adoption by unlisted fi rms on earnings quality and the cost of debt: empirical evidence from Korea
Abstract:
The present study empirically examines how voluntary International
Financial Reporting Standards (IFRS) adoption influences the earnings
quality and the cost of debt of unlisted firms in Korea. Since 2011, when
the adoption of IFRS by listed firms became mandatory, more unlisted firms
have adopted IFRS voluntarily, improving the transparency and reliability
of their accounting information. Using the sample of unlisted firms with
3year study period of preand post-IFRS adoption, we examine whether IFRS
voluntary adopters show both lower discretionary accruals and the cost of
debt than those of non adopters, and whether both discretionary accruals
and the cost of debt of voluntary adopters decrease after IFRS adoption.
We employ the Heckman's two stage approach in order to avoid sample
selection bias and cross sectional pooled OLS regression with or without
clustering test. We complimentary report the results from firm-fixed
effect panel model to generalise the results. The results show that firms
which adopt IFRS have a higher earnings quality and a lower cost of debt
that those which do not. These findings suggest that when unlisted firms
issue bonds and borrow money, IFRS adoption contributes to decreasing the
cost of debt.
Journal: Journal of Business Economics and Management
Pages: 931-948
Issue: 5
Volume: 16
Year: 2015
Month: 10
X-DOI: 10.3846/16111699.2014.953991
File-URL: http://hdl.handle.net/10.3846/16111699.2014.953991
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Handle: RePEc:taf:jbemgt:v:16:y:2015:i:5:p:931-948
Template-Type: ReDIF-Article 1.0
Author-Name: Slavica P. Petrovic
Author-X-Name-First: Slavica P.
Author-X-Name-Last: Petrovic
Title: Systemic intervention in creative managing problems in enterprises
Abstract:
The main purpose of this paper is to critically reassess the theoretical
foundations and the methodological development of Systemic Intervention
(SI) - as a new paradigm, based on theoretical and methodological
pluralism - in order to determine the conditions, the ways and the results
of its application in managing complex problems in enterprises. The
employed instrumentarium is critical systems thinking, with its
commitments to the critical awareness of the strengths and weaknesses of
each research instrument for tackling problems in enterprises, the
improvement of managing complex problems, and pluralism - respecting
different interpretations of problem situations and enabling the combined
use of research instruments. The main finding is that SI can underpin the
process of structuring complex management problems in enterprises in a
scientifically based and practically useful manner. In a scientific sense,
the important implication of the conducted research is that it contributes
to holistic understanding, conceptualizing and managing problem situations
in enterprises. The relevant practical implication for managers is that -
through a critical use of the SI methodology - they can creatively enhance
the strategic management process in enterprises.
Journal: Journal of Business Economics and Management
Pages: 949-961
Issue: 5
Volume: 16
Year: 2015
Month: 10
X-DOI: 10.3846/16111699.2013.833546
File-URL: http://hdl.handle.net/10.3846/16111699.2013.833546
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Handle: RePEc:taf:jbemgt:v:16:y:2015:i:5:p:949-961
Template-Type: ReDIF-Article 1.0
Author-Name: Neuza C. M. Q. F. Ferreira
Author-X-Name-First: Neuza C. M. Q. F.
Author-X-Name-Last: Ferreira
Author-Name: Fernando A. F. Ferreira
Author-X-Name-First: Fernando A. F.
Author-X-Name-Last: Ferreira
Author-Name: Carla S. E. Marques
Author-X-Name-First: Carla S. E.
Author-X-Name-Last: Marques
Author-Name: Guillermo O. Pérez-Bustamante Ilander
Author-X-Name-First: Guillermo O.
Author-X-Name-Last: Pérez-Bustamante Ilander
Author-Name: Amali Çipi
Author-X-Name-First: Amali
Author-X-Name-Last: Çipi
Title: Challenges in the implementation of public electronic services: lessons from a regional-based study
Abstract:
Building the information and knowledge society has involved the
development of numerous projects and initiatives all over the world.
Portugal is no exception. This work is based on the analysis of the
ALO Digital Project, which involves a series of
strategies developed at the local e-government level in four Portuguese
counties near Lisbon (i.e. Amadora, Loures, Odivelas and Vila Franca de
Xira). Having the residents of the four counties involved as the target,
this paper aims to identify the level of electronic service use resulting
from the implementation of the ALO Digital Project. A
questionnaire was administered and the results of a regression analysis
demonstrate that the project is still at low level of online service
sophistication. Additionally, despite users' overall satisfaction,
implementation difficulties were noticed. In practical terms, this reveals
a type of service more related to information consultation, downloading
and printing documentation, and supports the premise that a change of
focus and direction of local e-government is needed to substantially
improve the life of the individual citizen.
Journal: Journal of Business Economics and Management
Pages: 962-979
Issue: 5
Volume: 16
Year: 2015
Month: 10
X-DOI: 10.3846/16111699.2014.920718
File-URL: http://hdl.handle.net/10.3846/16111699.2014.920718
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Handle: RePEc:taf:jbemgt:v:16:y:2015:i:5:p:962-979
Template-Type: ReDIF-Article 1.0
Author-Name: Boris Urban
Author-X-Name-First: Boris
Author-X-Name-Last: Urban
Author-Name: Eric Wood
Author-X-Name-First: Eric
Author-X-Name-Last: Wood
Title: The importance of opportunity recognition behaviour and motivators of employees when engaged in corporate entrepreneurship
Abstract:
Organisational innovation depends on individuals and managers fostering
and maintaining the innovative capacities of the firm, where opportunity
recognition is important for promoting corporate entrepreneurship. The
study is unique in its focus on understanding opportunity recognition
behaviours and motivators of employees and how these perceptions may
influence corporate entrepreneurial activity. The study is conducted in an
under-researched emerging market context, where 187 respondents were
surveyed in the financial sector industry. The empirical findings indicate
that employees perceive themselves as having high levels of opportunity
recognition behaviours and motivators which are positively associated with
willingness to engage in corporate entrepreneurial initiatives. The
results further show that there is a significant positive relationship
between opportunity recognition behaviours and the frequency of
opportunities recognised. Implications highlight the importance of
fostering opportunity recognition behaviours within an organisation and
motivating employees to act innovatively.
Journal: Journal of Business Economics and Management
Pages: 980-994
Issue: 5
Volume: 16
Year: 2015
Month: 10
X-DOI: 10.3846/16111699.2013.799087
File-URL: http://hdl.handle.net/10.3846/16111699.2013.799087
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Handle: RePEc:taf:jbemgt:v:16:y:2015:i:5:p:980-994
Template-Type: ReDIF-Article 1.0
Author-Name: Jolanta Kowal
Author-X-Name-First: Jolanta
Author-X-Name-Last: Kowal
Author-Name: Narcyz Roztocki
Author-X-Name-First: Narcyz
Author-X-Name-Last: Roztocki
Title: Job satisfaction of IT professionals in Poland: does business competence matter?
Abstract:
This paper examines the effects of business competence on the job
satisfaction of Information Technology (IT) professionals in Poland. The
necessary data is collected from a survey conducted among 391 IT
professionals working in various companies in Poland. The results of the
analysis indicate that business competence, in general, positively affects
the job satisfaction of IT professionals in transition economies. However,
business competence seems to have mixed effects on various aspects of job
satisfaction. Although business competence affects satisfaction with
co-workers, supervision and work itself, the surveyed IT professionals
feel that business competence does not have any substantial effect on
their salary level and professional promotions. The theoretical
implication of this study is that systematic development of human capital
by building business competence will have positive effects on the job
satisfaction of IT professionals in transition economies. This paper also
has a practical implication for managers in transition economies seeking
improvements in productivity as it may help them to devise a compensation
and promotion system that would better account for competency in their
employees.
Journal: Journal of Business Economics and Management
Pages: 995-1012
Issue: 5
Volume: 16
Year: 2015
Month: 10
X-DOI: 10.3846/16111699.2014.924988
File-URL: http://hdl.handle.net/10.3846/16111699.2014.924988
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Handle: RePEc:taf:jbemgt:v:16:y:2015:i:5:p:995-1012
Template-Type: ReDIF-Article 1.0
Author-Name: Marta Fernández-Olmos
Author-X-Name-First: Marta
Author-X-Name-Last: Fernández-Olmos
Author-Name: Isabel Díez-Vial
Author-X-Name-First: Isabel
Author-X-Name-Last: Díez-Vial
Title: Intangible resources, export channel and performance: is there any fit?
Abstract:
As the resource-based view suggests, firms choose their export channel on
the basis of their internal pool of resources. Following this approach, we
firstly hypothesize that firms with intangible resources will establish
direct export channels to better exploit, protect and develop their
firm-specific resources. Secondly, we propose that firms that establish
their export channel on the basis of their internal resources outperform
those firms that do not. To obtain empirical evidence we used a Heckman
two-step model for the DOC Rioja wine industry. The results confirm that
firms improve their export performance when jointly considering internal
resources and the export channel. Also, human resources are the most
relevant intangible resources in our model. This paper contributes by
offering empirical evidence on the exporting channel strategies chosen by
Spanish wineries. This paper makes a theoretical contribution by examining
the performance consequences of following the RBV approach. Likewise, it
has important practical implications for managers, who can improve their
firm's export performance by assessing their internal resources before
considering which export channel to choose.
Journal: Journal of Business Economics and Management
Pages: 1013-1033
Issue: 5
Volume: 16
Year: 2015
Month: 10
X-DOI: 10.3846/16111699.2012.726928
File-URL: http://hdl.handle.net/10.3846/16111699.2012.726928
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Handle: RePEc:taf:jbemgt:v:16:y:2015:i:5:p:1013-1033
Template-Type: ReDIF-Article 1.0
Author-Name: Abbas Mardani
Author-X-Name-First: Abbas
Author-X-Name-Last: Mardani
Author-Name: Ahmad Jusoh
Author-X-Name-First: Ahmad
Author-X-Name-Last: Jusoh
Author-Name: Edmundas Kazimieras Zavadskas
Author-X-Name-First: Edmundas Kazimieras
Author-X-Name-Last: Zavadskas
Author-Name: Zainab Khalifah
Author-X-Name-First: Zainab
Author-X-Name-Last: Khalifah
Author-Name: Khalil MD Nor
Author-X-Name-First: Khalil MD
Author-X-Name-Last: Nor
Title: Application of multiple-criteria decision-making techniques and approaches to evaluating of service quality: a systematic review of the literature
Abstract:
The main purpose of this paper is to present a systematic review of
multiple- criteria decision-making (MCDM) techniques used in the
assessment of service qual- ity. This study reviewed a total of 79
articles from 51 journals, published from 2001 to 2015. Articles were
classified into 10 application areas and scopes. Furthermore, articles
were categorised based on an author, year, application area, the
nationality of the author, technique, a number of criteria,
research purpose, gap and research problem, results and outcome. The best
criteria were determined in each article. The results of this study re-
vealed that more papers on MCDM were published in 2011 than in any other
year. Inte- grated techniques, analytic hierarchy process (AHP) and fuzzy
AHP methods, were ranked as first and second methods in use, respectively.
Finally, the airline industry was ranked as the first application area, in
which previous studies applied MCDM techniques for the evaluation of the
service quality. This research contributes to the existing literature on
the service quality and MCDM. The research outputs are valuable to
academics scholars and leaders of organisations and industries in the
field of service quality evaluation.
Journal: Journal of Business Economics and Management
Pages: 1034-1068
Issue: 5
Volume: 16
Year: 2015
Month: 10
X-DOI: 10.3846/16111699.2015.1095233
File-URL: http://hdl.handle.net/10.3846/16111699.2015.1095233
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Handle: RePEc:taf:jbemgt:v:16:y:2015:i:5:p:1034-1068
Template-Type: ReDIF-Article 1.0
Author-Name: J. Augusto Felício
Author-X-Name-First: J. Augusto
Author-X-Name-Last: Felício
Author-Name: Maria Purificación Galindo Villardón
Author-X-Name-First: Maria Purificación
Author-X-Name-Last: Galindo Villardón
Title: Family characteristics and governance of small and medium-sized family firms
Abstract:
The purpose of this paper is to study the influence of family
characteristics on the governance of small and medium-sized family firms.
The study presents and tests a theoretical model resorting to data on 151
Portuguese SMEs. The study uses nonlinear principal component analysis by
alternating least squares, bivariate analysis and cluster analysis. Family
characteristics influence governance mechanisms and family firms form
clusters based on family characteristics and governance mechanisms. The
results reveal that family characteristics are a source of heterogeneity
among family firms which corroborates the criticism on family firms'
homogeneity assumption. The identification of clusters of firms
constitutes a reference for family firms' definition of governance models.
The originality of the paper relies on the analysis of specific family
characteristics and its importance as a source of family firms'
heterogeneity is proven. This study opens new insights on family firms'
governance research and may be extended to other family characteristics
and overall implications on performance.
Journal: Journal of Business Economics and Management
Pages: 1069-1084
Issue: 6
Volume: 16
Year: 2015
Month: 12
X-DOI: 10.3846/16111699.2012.747446
File-URL: http://hdl.handle.net/10.3846/16111699.2012.747446
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Handle: RePEc:taf:jbemgt:v:16:y:2015:i:6:p:1069-1084
Template-Type: ReDIF-Article 1.0
Author-Name: Chen-Yin Kuo
Author-X-Name-First: Chen-Yin
Author-X-Name-Last: Kuo
Title: Is an intertemporal model of the current account valid for East Asian countries? Evidence from structural VAR
Abstract:
This paper aims to examine the validity of present-value model of current
account (PVMCA) by analyzing dynamic responses of variables in PVMCA to
structural shocks. In place of the cross-equation restriction tests used
in existing research, we adopted a structural vector autoregression
framework and obtain three findings. First, evidences from 4 East Asian
countries supported the intertemporal theoretical expectation that
country-specific transitory shocks significantly affect current accounts,
whereas the effects of global and country-specific permanent shocks are
negligible. Second, country-specific transitory shocks that primarily
affected current account variance dominate net output variation. Third,
global permanent and transitory shocks mainly affecting variances in world
interest rates and exchange rates secondarily explain current account
variance. Therefore, three explanatory variables of PVMCA sufficiently
explain current account variations. In practice, investors can use the
PVMCA to forecast changes in current accounts; they further judge business
risks stemming from the changes, and adjust their security portfolio.
Journal: Journal of Business Economics and Management
Pages: 1085-1108
Issue: 6
Volume: 16
Year: 2015
Month: 12
X-DOI: 10.3846/16111699.2014.964304
File-URL: http://hdl.handle.net/10.3846/16111699.2014.964304
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Handle: RePEc:taf:jbemgt:v:16:y:2015:i:6:p:1085-1108
Template-Type: ReDIF-Article 1.0
Author-Name: Giedrė Lapinskienė
Author-X-Name-First: Giedrė
Author-X-Name-Last: Lapinskienė
Author-Name: Kęstutis Peleckis
Author-X-Name-First: Kęstutis
Author-X-Name-Last: Peleckis
Author-Name: Marijus Radavičius
Author-X-Name-First: Marijus
Author-X-Name-Last: Radavičius
Title: Economic development and greenhouse gas emissions in the European Union countries
Abstract:
The paper analyses the environmental Kuznets curve (EKC) relationship
between greenhouse gases and main aspects of economic development based on
the panel data of 20 countries of the EU, including the data of three
Baltic States, in the period 1995--2011. The fixed effect panel model was
used as a framework for the analysis. The commonly used models confirmed
the presence of the inverse U-shaped relationship. The novel contribution
of this paper is that the factor referring to the global financial crisis
was tested in expanded EKC model. Higher energy taxes, primary production
of nuclear heat and R&D decrease the level of greenhouse gas emissions
(GHG). The size of agriculture, industry and construction, as well as the
primary production of solid fuels have a positive sign, which means that a
higher value of these indicators is associated with a higher level of GHG.
This implies that the analysed set of factors can be applied to adjust the
EKC trend in the region and might be useful for the climate change policy
adjustment.
Journal: Journal of Business Economics and Management
Pages: 1109-1123
Issue: 6
Volume: 16
Year: 2015
Month: 12
X-DOI: 10.3846/16111699.2015.1112830
File-URL: http://hdl.handle.net/10.3846/16111699.2015.1112830
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Handle: RePEc:taf:jbemgt:v:16:y:2015:i:6:p:1109-1123
Template-Type: ReDIF-Article 1.0
Author-Name: You-Hua Chen
Author-X-Name-First: You-Hua
Author-X-Name-Last: Chen
Author-Name: Pu-Yan Nie
Author-X-Name-First: Pu-Yan
Author-X-Name-Last: Nie
Author-Name: X. Henry Wang
Author-X-Name-First: X. Henry
Author-X-Name-Last: Wang
Title: Asymmetric doupoly competition with innovation spillover and input constraints
Abstract:
AbstractsThis paper subjects to examine how technology
spillover affects input competition and how input constraints impact firm
innovation by a two-stage game model and theoretic analysis. The results
show that with low spillover, the high cost firm can capture more input
than the low cost firm through cost-reducing innovation. Adding input
increases firms’ innovation, but it cannot improve the
disadvantaged firm's state under input constraint. Compared with
non-cooperative innovation, cooperative innovation reduces innovation
difference and firm size difference. The research implications are that
disadvantage firms could take innovation spillover and capacity
constraints as a competition strategy to obtain competition advantage and
regulators should stimulate cooperative innovation to higher social
welfare. The major value of this paper is that it combines capacity
constraints and innovation investment originality.
Journal: Journal of Business Economics and Management
Pages: 1124-1139
Issue: 6
Volume: 16
Year: 2015
Month: 12
X-DOI: 10.3846/16111699.2013.823104
File-URL: http://hdl.handle.net/10.3846/16111699.2013.823104
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Handle: RePEc:taf:jbemgt:v:16:y:2015:i:6:p:1124-1139
Template-Type: ReDIF-Article 1.0
Author-Name: Radoslav Delina
Author-X-Name-First: Radoslav
Author-X-Name-Last: Delina
Author-Name: Michal Tkáč
Author-X-Name-First: Michal
Author-X-Name-Last: Tkáč
Title: Role of e-business in the perception of ICT impact on revenue growth
Abstract:
Perceived gain from the use of e-business information and communication
technologies (ICT) represents the main driver that motivates companies to
implement them. The study focuses on the perception of e-business ICT
applications within companies. On the sample of 11,072 companies from 27
EU states, we have determined which of e-business ICT application the
companies use and how they perceive the impact of ICT on their revenue
growth. An ordinal regression and decision tree analysis have been used to
identify a portfolio of e-business ICT applications. We have also proposed
three hypotheses to test whether the perceived impact of ICT is influenced
by the number of implemented e-business ICT applications, or by the number
of procurement-orientated e- business ICT applications, or even by the
number of sales-orientated ones. The research not only helps practitioners
to recognize which tools are behind the positive perception regarding the
impact of ICT on revenue growth, but it tries to answer the question of
whether the quantity of implemented applications really improves the
acknowledged influence of ICT on revenue growth.
Journal: Journal of Business Economics and Management
Pages: 1140-1153
Issue: 6
Volume: 16
Year: 2015
Month: 12
X-DOI: 10.3846/16111699.2013.797012
File-URL: http://hdl.handle.net/10.3846/16111699.2013.797012
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Handle: RePEc:taf:jbemgt:v:16:y:2015:i:6:p:1140-1153
Template-Type: ReDIF-Article 1.0
Author-Name: Cristina Silvia Nistor
Author-X-Name-First: Cristina Silvia
Author-X-Name-Last: Nistor
Author-Name: Adela Deaconu
Author-X-Name-First: Adela
Author-X-Name-Last: Deaconu
Author-Name: Codruta Mare
Author-X-Name-First: Codruta
Author-X-Name-Last: Mare
Title: Influence of environmental factors on the evolution of Romanian public accounting
Abstract:
Using a historiography approach on public accounting, this research add
value to this knowledge providing a customization of the environmental
influential factors for an emergent context, the Romanian one, in specific
historical phases between 1831 and 2011. The critical-interpretative
picture of an extended period of 180 years is complemented by an empirical
approach, an original issue in accounting history. Empirical findings
based on cluster analysis confirm the existence of six influential factor
groups and the intergroup interdependency and provides a fundamental
explanation for the effect of factors’ combination. The political
system has an influence over the economic system, which impacts accounting
development, the reporting and disclosure system required by users. The
connection between legal and economic factors decided the type of
accounting legal system. Socio-cultural factors affected the accounting
policies and decided accountancy's progress, closely linked to the
educational factor whose strong influence impacted the accounting theory
and practice. All this results are a benchmark for other emergent
countries.
Journal: Journal of Business Economics and Management
Pages: 1154-1169
Issue: 6
Volume: 16
Year: 2015
Month: 12
X-DOI: 10.3846/16111699.2013.804872
File-URL: http://hdl.handle.net/10.3846/16111699.2013.804872
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Handle: RePEc:taf:jbemgt:v:16:y:2015:i:6:p:1154-1169
Template-Type: ReDIF-Article 1.0
Author-Name: Salvador Climent-Serrano
Author-X-Name-First: Salvador
Author-X-Name-Last: Climent-Serrano
Author-Name: Jose M. Pavía
Author-X-Name-First: Jose M.
Author-X-Name-Last: Pavía
Title: Determinants of profitability in Spanish financial institutions. Comparing aided and non-aided entities
Abstract:
The last financial crisis has led to the greatest contribution of public
funds ever made to Spanish banks. This paper studies why the need for
support has been asymmetric, with not all of the institutions requiring
aid. Based on profitability of assets (ROA), we determine using panel data
econometric and logit response models the components of profit and loss
accounts that generated profitability as well as the factors leading to
some entities to ask for aid. The analyses show that before the beginning
of the crisis there were significant differences between entities that
needed aid and those that did not. The most profitable banks grounded
their success in the traditional revenue components of financial
institutions (such as margin on interest rates and commissions), as well
as in revenues obtained from participated companies and extraordinary
results. The model offers a tool to detect entities in difficulties in
advance, reducing the financial and social costs of public interventions.
The factors more impacting on profitability of Spanish institutions are
also identified.
Journal: Journal of Business Economics and Management
Pages: 1170-1184
Issue: 6
Volume: 16
Year: 2015
Month: 12
X-DOI: 10.3846/16111699.2013.801881
File-URL: http://hdl.handle.net/10.3846/16111699.2013.801881
File-Format: text/html
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Handle: RePEc:taf:jbemgt:v:16:y:2015:i:6:p:1170-1184
Template-Type: ReDIF-Article 1.0
Author-Name: Ilona Skačkauskienė
Author-X-Name-First: Ilona
Author-X-Name-Last: Skačkauskienė
Author-Name: Neringa Vilkaitė-Vaitonė
Author-X-Name-First: Neringa
Author-X-Name-Last: Vilkaitė-Vaitonė
Author-Name: Sergej Vojtovic
Author-X-Name-First: Sergej
Author-X-Name-Last: Vojtovic
Title: Model for measuring customer loyalty towards a service provider
Abstract:
The paper aims to create a valid model for measuring customer loyalty
towards a service provider. Principal solutions for designing a model of
loyalty measurement have emerged from the clarified role of customer
loyalty and evaluation problems. The worked out solutions include
selecting a proper concept (1), loyalty specification (2), determining a
period necessary for loyalty measurement (3), differentiation of loyalty
measurement depending on accessible data (4) and measuring a stage of
loyalty (5). The conducted research referred to an example of a catering
company, thus adopting an original mathematical model for the empirical
measurement of customer loyalty. The obtained results have revealed that
the loyalty of the customers of the investigated service provider is of an
intermediate level. The findings have also showed the superiority of the
proposed model for measuring the state of customer loyalty and for
obtaining better solutions to the development of customer loyalty in the
service industry.
Journal: Journal of Business Economics and Management
Pages: 1185-1200
Issue: 6
Volume: 16
Year: 2015
Month: 12
X-DOI: 10.3846/16111699.2015.1112829
File-URL: http://hdl.handle.net/10.3846/16111699.2015.1112829
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Handle: RePEc:taf:jbemgt:v:16:y:2015:i:6:p:1185-1200
Template-Type: ReDIF-Article 1.0
Author-Name: Victoria Bellou
Author-X-Name-First: Victoria
Author-X-Name-Last: Bellou
Author-Name: Ioannis Chaniotakis
Author-X-Name-First: Ioannis
Author-X-Name-Last: Chaniotakis
Author-Name: Ioannis Kehagias
Author-X-Name-First: Ioannis
Author-X-Name-Last: Kehagias
Author-Name: Irini Rigopoulou
Author-X-Name-First: Irini
Author-X-Name-Last: Rigopoulou
Title: Employer Brand of Choice: an employee perspective
Abstract:
This study seeks to contribute in the field of the ideal employer, by
determining the Employer Brand of Choice and its core components. In doing
so, a pilot study was initially conducted to delineate these components.
Evidence from 896 working adults that participated in a field study
support the multi-dimensionality of the construct Employer Brand of
choice, highlighting the role of “Remuneration”,
“Relationships”, “Opportunities for Self
Development”, “Recognition”, and “Corporate
Image”. These findings not only offer a concrete and holistic
theoretical base of Employer Brand of Choice, but they can also serve as a
managerial guide towards enhancing companies’ ability to attract,
retain and motivate talented individuals.
Journal: Journal of Business Economics and Management
Pages: 1201-1215
Issue: 6
Volume: 16
Year: 2015
Month: 12
X-DOI: 10.3846/16111699.2013.848227
File-URL: http://hdl.handle.net/10.3846/16111699.2013.848227
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Handle: RePEc:taf:jbemgt:v:16:y:2015:i:6:p:1201-1215
Template-Type: ReDIF-Article 1.0
Author-Name: Syed Ali Raza
Author-X-Name-First: Syed Ali
Author-X-Name-Last: Raza
Title: Foreign direct investment, workers’ remittances and private saving in Pakistan: an ARDL bound testing approach
Abstract:
The objective of this study is to investigate the impact of foreign direct
investment (FDI) and workers’ remittances on private savings of
Pakistan. This study employs ARDL bound testing co-integration approach,
rolling window analysis, Granger causality test, Toda and Yamamoto
Modified Wald causality test and variance decomposition test. Results
indicate the significant positive impact of FDI and workers’
remittances on private savings in the long and short run. Causality
analyses confirm the bidirectional causal relationship of FDI and
workers’ remittances with private savings. It is recommended that
policy makers should form friendly policies to attract more FDI and
workers’ remittances in the country which leads to increase private
savings in Pakistan. This leads to increase more fund for financial
intermediaries to increase domestic investment opportunities in the
country. This paper makes a unique contribution to the literature with
reference to Pakistan, being a pioneering attempt to investigate the
impact of FDI and workers’ remittances on private savings of
Pakistan by using the long annual time series data and applying more
rigorous econometric techniques.
Journal: Journal of Business Economics and Management
Pages: 1216-1234
Issue: 6
Volume: 16
Year: 2015
Month: 12
X-DOI: 10.3846/16111699.2013.792867
File-URL: http://hdl.handle.net/10.3846/16111699.2013.792867
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Handle: RePEc:taf:jbemgt:v:16:y:2015:i:6:p:1216-1234
Template-Type: ReDIF-Article 1.0
Author-Name: Hui Li
Author-X-Name-First: Hui
Author-X-Name-Last: Li
Author-Name: Wei Song
Author-X-Name-First: Wei
Author-X-Name-Last: Song
Author-Name: Roger Collins
Author-X-Name-First: Roger
Author-X-Name-Last: Collins
Title: Erratum
Journal: Journal of Business Economics and Management
Pages: 1239-1239
Issue: 6
Volume: 16
Year: 2015
Month: 12
X-DOI: 10.3846/16111699.2015.1131407
File-URL: http://hdl.handle.net/10.3846/16111699.2015.1131407
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Handle: RePEc:taf:jbemgt:v:16:y:2015:i:6:p:1239-1239
Template-Type: ReDIF-Article 1.0
Author-Name: Abbas Mardani
Author-X-Name-First: Abbas
Author-X-Name-Last: Mardani
Author-Name: Ahmad Jusoh
Author-X-Name-First: Ahmad
Author-X-Name-Last: Jusoh
Author-Name: Edmundas Kazimieras Zavadskas
Author-X-Name-First: Edmundas Kazimieras
Author-X-Name-Last: Zavadskas
Author-Name: Norhayati Zakuan
Author-X-Name-First: Norhayati
Author-X-Name-Last: Zakuan
Author-Name: Alireza Valipour
Author-X-Name-First: Alireza
Author-X-Name-Last: Valipour
Author-Name: Mansooreh Kazemilari
Author-X-Name-First: Mansooreh
Author-X-Name-Last: Kazemilari
Title: Proposing a new hierarchical framework for the evaluation of quality management practices: a new combined fuzzy hybrid MCDM approach
Abstract:
This study aims to evaluate the quality management (QM) practices in
Iranian hotels that are small and medium enterprises (SMEs) through the
integration of the fuzzy set theory with both qualitative and quantitative
methods. The criteria were collected through the literature survey and the
fuzzy Delphi method (FDM). This study applied fuzzy multiple criteria
decision making (FMCDM), including the fuzzy analytic hierarchy process
(FAHP), the Technique for Order of Preference by Similarity to Ideal
Solution (TOPSIS) and Vise Kriterijumska Optimizacija I Kompromisno
Resenje (VIKOR). In the FDM phase, 21 practice was selected and
categorized into four main factors. Results of the study indicated that
the quality assurance was ranked as the highest important fac- tor. From
the practical viewpoint, this paper proposed new integrated model that
applied FDM, FAHP, TOPSIS and VIKOR for the evaluation of QM practices in
the hotel industry and introduced the environmental perspective as a new
viewpoint of QM systems, espe- cially in hotels as SMEs. In addition, the
proposed model highlights a new insight into MCDM and contributes to the
present body of knowledge in the area of QM systems.
Journal: Journal of Business Economics and Management
Pages: 1-16
Issue: 1
Volume: 17
Year: 2016
Month: 2
X-DOI: 10.3846/16111699.2015.1061589
File-URL: http://hdl.handle.net/10.3846/16111699.2015.1061589
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Template-Type: ReDIF-Article 1.0
Author-Name: Z. H. Che
Author-X-Name-First: Z. H.
Author-X-Name-Last: Che
Author-Name: Y. F. Chang
Author-X-Name-First: Y. F.
Author-X-Name-Last: Chang
Title: Integrated methodology for supplier selection: the case of a sphygmomanometer manufacturer in Taiwan
Abstract:
Supplier selection is a critical multi-criterion decision-making activity
for suc- cessful supply chain management. This study involved developing
an integrated supplier selection methodology, which is constructed using
analytic network process, data envelop- ment analysis, and multiple
objective particle swarm optimization. The proposed integrated methodology
can account for multiple supplier selection criteria and set boundaries on
weight value for multiple objective data envelopment analysis inputs and
outputs. To solve the data envelopment analysis model, a new algorithm
based on multiple objective particle swarm optimization is introduced,
which embeds with tabu list and group mechanisms, and then, it is found to
be superior to the compared algorithms in solving performance on three
test functions and the illustrative case. In addition, the proposed
integrated method- ology was applied to a supplier selection problem of
sphygmomanometer manufacturer in Taiwan to verify its applicability of
decision-making process. The results show that the methodology can be
implemented as an effective decision aid for supplier selection under
multiple criteria with weight restrictions.
Journal: Journal of Business Economics and Management
Pages: 17-34
Issue: 1
Volume: 17
Year: 2016
Month: 2
X-DOI: 10.3846/16111699.2015.1031823
File-URL: http://hdl.handle.net/10.3846/16111699.2015.1031823
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Handle: RePEc:taf:jbemgt:v:17:y:2016:i:1:p:17-34
Template-Type: ReDIF-Article 1.0
Author-Name: Marinko Škare
Author-X-Name-First: Marinko
Author-X-Name-Last: Škare
Author-Name: Tea Hasić
Author-X-Name-First: Tea
Author-X-Name-Last: Hasić
Title: Corporate governance, firm performance, and economic growth -- theoretical analysis
Abstract:
Corporate governance in today's modern economies is growing in importance
within the growth accounting equation. Although we look at corporate
governance as final product of 20/21-super-st century economies, old
economic growth theories were aware of its importance for growth and
development. Roots of corporate governance go back to the ancient
economies of India and Greece also. This paper offers a consistent
literature review assessing the nexus between corporate performance and
economic growth. Individual and cross-country studies show corporate
governance in majority of the cases positively affects firms performance
and in turn nations' economic growth. Empirical and theoretical research
show corporate governance is an important growth determinant to be
reviewed in the field of growth models. This article summarizes main
findings providing future research directions on the corporate governance
-- economic growth nexus.
Journal: Journal of Business Economics and Management
Pages: 35-51
Issue: 1
Volume: 17
Year: 2016
Month: 2
X-DOI: 10.3846/16111699.2015.1071278
File-URL: http://hdl.handle.net/10.3846/16111699.2015.1071278
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Handle: RePEc:taf:jbemgt:v:17:y:2016:i:1:p:35-51
Template-Type: ReDIF-Article 1.0
Author-Name: Joanna Ejdys
Author-X-Name-First: Joanna
Author-X-Name-Last: Ejdys
Author-Name: Alina Matuszak-Flejszman
Author-X-Name-First: Alina
Author-X-Name-Last: Matuszak-Flejszman
Author-Name: Michał szymanski
Author-X-Name-First: Michał
Author-X-Name-Last: szymanski
Author-Name: Leonas Ustinovichius
Author-X-Name-First: Leonas
Author-X-Name-Last: Ustinovichius
Author-Name: Galina Shevchenko
Author-X-Name-First: Galina
Author-X-Name-Last: Shevchenko
Author-Name: Agata Lulewicz-Sas
Author-X-Name-First: Agata
Author-X-Name-Last: Lulewicz-Sas
Title: Crucial factors for improving the ISO 14001 environmental management system
Abstract:
The practice of using environmental management systems (EMS) ISO 14001 at
the organisational level indicates that the efficacy of such solutions
depends on many factors, both endogenous and exogenous in nature. This
article aims to identify the fac- tors that determine the opportunities
for the improvement of EMS in organisations, the analysis of the
relationship between the factors and the classification of the factors due
to their role in the system improvement. The structural analysis was used
to classify and identify the key factors and then to categorize these
factors into five groups. Finally, the role of these key factors in
improving environmental management systems was exam- ined. Based on the
findings, guidelines can be offered to both scholars and practitioners
regarding the factors crucial for the improvement of the EMS. Aiming to
add value to the existing literature, the structural analysis was adapted
to classification and identification of the key factors. From the point of
view of practitioners, it seems to be very profitable to concentrate on
the crucial factors during the process of EMS improvement.
Journal: Journal of Business Economics and Management
Pages: 52-73
Issue: 1
Volume: 17
Year: 2016
Month: 2
X-DOI: 10.3846/16111699.2015.1065905
File-URL: http://hdl.handle.net/10.3846/16111699.2015.1065905
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Template-Type: ReDIF-Article 1.0
Author-Name: Pedro Picaluga Nevado
Author-X-Name-First: Pedro Picaluga
Author-X-Name-Last: Nevado
Author-Name: José Monteiro Barata
Author-X-Name-First: José Monteiro
Author-X-Name-Last: Barata
Author-Name: Rita Assoreira Almendra
Author-X-Name-First: Rita Assoreira
Author-X-Name-Last: Almendra
Title: Boosting innovation and growth through the use of design
Abstract:
The question underpinning this study is: would the incorporation of design
throughout every dimension of a company's business pursuing innovation
result in higher levels of growth and competitiveness? The paper begins
with a brief theoretical approach to the concepts of creativity, design
and innovation and identifies some of the traditional company growth
strategies. This paper provides, in the context of design management, a
first empirical analysis on the relationship between company growth and
the investments in design along the value chain, stressing the importance
of the phase in which design gets applied for the first time
(“momentum”). The empirical analysis was based on data
captured from an online questionnaire on the Portuguese manufacturing
industry. The multivariate data analysis focused on the analysis of
variance and factor analysis. The pa- per has the merit to conclude that
the companies growing more sharply apply design from generating ideas to
processes and production and extending into the marketing phase.
Journal: Journal of Business Economics and Management
Pages: 74-91
Issue: 1
Volume: 17
Year: 2016
Month: 2
X-DOI: 10.3846/16111699.2014.969768
File-URL: http://hdl.handle.net/10.3846/16111699.2014.969768
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Handle: RePEc:taf:jbemgt:v:17:y:2016:i:1:p:74-91
Template-Type: ReDIF-Article 1.0
Author-Name: Ana Iglesias-Casal
Author-X-Name-First: Ana
Author-X-Name-Last: Iglesias-Casal
Author-Name: Maria Celia López-Penabad
Author-X-Name-First: Maria Celia
Author-X-Name-Last: López-Penabad
Author-Name: Carmen López-Andión
Author-X-Name-First: Carmen
Author-X-Name-Last: López-Andión
Author-Name: Jose Manuel Maside-Sanfiz
Author-X-Name-First: Jose Manuel
Author-X-Name-Last: Maside-Sanfiz
Title: Market perception of bank risk and securitization in Spain
Abstract:
This paper examines the systematic risk in those banks that participated
as issuers of securitization transactions in the Spanish market. Using
event study methodol- ogy and allowing systematic risk to change gradually
within the event window, this paper provides empirical evidence that
securitization has a positive impact on Spanish bank's systematic risk
(beta) from the beginning to the end of the event window. Additionally, we
assess how much of the beta effect is due to volatility and how much to
market cor- relation. The increase in beta is solely due to an increase in
banks’ correlations, improving portfolio diversification. The
empirical results presented in this paper show important informative
implications for the different agents related to banks. This creates a
challenge for financial regulation, which has typically focused on
individual institutions.
Journal: Journal of Business Economics and Management
Pages: 92-108
Issue: 1
Volume: 17
Year: 2016
Month: 2
X-DOI: 10.3846/16111699.2013.807867
File-URL: http://hdl.handle.net/10.3846/16111699.2013.807867
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Handle: RePEc:taf:jbemgt:v:17:y:2016:i:1:p:92-108
Template-Type: ReDIF-Article 1.0
Author-Name: Laith Ali Al-Hakim
Author-X-Name-First: Laith Ali
Author-X-Name-Last: Al-Hakim
Author-Name: Shahizan Hassan
Author-X-Name-First: Shahizan
Author-X-Name-Last: Hassan
Title: Core requirements of knowledge management implementation, innovation and organizational performance
Abstract:
The present study aims to examine the relationship among core requirements
of knowledge management implementation, innovation, and organizational
performance in the Iraqi mobile telecommunications sector. A questionnaire
was conducted on mobile companies based on a proportionate stratified
random sampling technique. The results indicated that core requirements of
knowledge management implementation had a statistically significant and
direct positive effect on innovation. The critical success factors of
knowledge management and knowledge management strategies had a
statistically significant and direct positive effect on organizational
performance. Then the direct relationship of knowledge management
processes with organizational performance was positively affected, but it
was not statistically significant. The results also indicated that the
innovation had a positive and statistically significant effect on
organizational performance. More importantly, the results indicate that
core requirements of knowledge management implementation had a positive
and statistically significant effect on organizational performance through
the partial mediating effect of innovation.
Journal: Journal of Business Economics and Management
Pages: 109-124
Issue: 1
Volume: 17
Year: 2016
Month: 2
X-DOI: 10.3846/16111699.2012.720597
File-URL: http://hdl.handle.net/10.3846/16111699.2012.720597
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Handle: RePEc:taf:jbemgt:v:17:y:2016:i:1:p:109-124
Template-Type: ReDIF-Article 1.0
Author-Name: Najia Saqib
Author-X-Name-First: Najia
Author-X-Name-Last: Saqib
Title: Banking sector liberalization and economic growth: case study of Pakistan
Abstract:
Economic theory suggests that sound and efficient financial systems
channel capitals to its most productive uses are beneficial for economic
growth. Sound and efficient financial systems are especially important for
sustaining growth in developing countries. This paper examines the impact
of banking sector liberalization on long-term economic growth in Pakistan
by using a time series data for the period 1971--2011. The results show
that there exist a significant positive long run relationship between
banking sector development and economic growth in the country. The
sensitivity analysis also shows that the relationship remain positive and
significant no matter what combination of the omitted variables are used
in the basic model. Thus, our findings support the core idea that banking
sector development stimulates long term economic growth in a country.
Journal: Journal of Business Economics and Management
Pages: 125-139
Issue: 1
Volume: 17
Year: 2016
Month: 2
X-DOI: 10.3846/16111699.2013.804874
File-URL: http://hdl.handle.net/10.3846/16111699.2013.804874
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Handle: RePEc:taf:jbemgt:v:17:y:2016:i:1:p:125-139
Template-Type: ReDIF-Article 1.0
Author-Name: Mohammad Ali Kashefi
Author-X-Name-First: Mohammad Ali
Author-X-Name-Last: Kashefi
Title: Effect of salvage market on strategic technology choice and capacity investment decision of firm under demand uncertainty
Abstract:
This paper examines the effect of salvage market on technology choice and
capacity investment decision of two firms that compete on quantity under
demand uncertainty. A game theoretic model applies such that firms choose
their production technology between two alternatives: flexible versus
inflexible production process. Then they decide on the amount of capacity
investment: flexible firm makes decision about general and specific
components and inflexible firm just about unified component. One stage
forward both enter the primary market in which demand is uncertain and
play a la Cournot and finally, flexible firm will be able
to sell its unsold general components in the secondary market with a
deterministic price. Numerical study was employed to observe equilibrium
behavior of firms. Findings demonstrate that with symmetric
parameterization there is a unique Nash equilibrium in which both firms
choose inflexible technology while applying asymmetric parameters has the
potential to form two types of equilibrium when both firms choose
inflexible technology or only one firm chooses flexible technology.
Moreover, it is shown that there is a cost threshold that could shift the
equilibria.
Journal: Journal of Business Economics and Management
Pages: 140-155
Issue: 1
Volume: 17
Year: 2016
Month: 2
X-DOI: 10.3846/16111699.2012.734325
File-URL: http://hdl.handle.net/10.3846/16111699.2012.734325
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Handle: RePEc:taf:jbemgt:v:17:y:2016:i:1:p:140-155
Template-Type: ReDIF-Article 1.0
Author-Name: Mukesh Kumar
Author-X-Name-First: Mukesh
Author-X-Name-Last: Kumar
Author-Name: Vincent Charles
Author-X-Name-First: Vincent
Author-X-Name-Last: Charles
Author-Name: Chandra Sekhar Mishra
Author-X-Name-First: Chandra Sekhar
Author-X-Name-Last: Mishra
Title: Evaluating the performance of indian banking sector using DEA during post-reform and global financial crisis
Abstract:
The purpose of the study is to examine the performance of Indian banking
sector in terms of efficiency, returns to scale, and total factor
productivity change. The technique of data envelopment analysis is applied
due to its flexibility to incorporate multiple inputs and multiple outputs
without any underlying assumption on the functional form. There is growing
tendency of public sector banks operating under increasing returns to
scale, implying that substantial gains could be obtained from altering
scale via either internal growth or consolidation in the sector. In terms
of productivity, the results show a positive change in both the sectors
due to technological change, possibly as a result of adoption of latest
technology and new business practices in post reform period. However,
there is an evidence of shrink in the market and negative growth in
productivity in both the sectors during the period of global financial
crisis. The main contribution of the paper is to empirically provide the
evidences to resolve the debate if the global financial crisis had any
impact on the performance of banking sector in India.
Journal: Journal of Business Economics and Management
Pages: 156-172
Issue: 1
Volume: 17
Year: 2016
Month: 2
X-DOI: 10.3846/16111699.2013.809785
File-URL: http://hdl.handle.net/10.3846/16111699.2013.809785
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Handle: RePEc:taf:jbemgt:v:17:y:2016:i:1:p:156-172
Template-Type: ReDIF-Article 1.0
Author-Name: Joseph Lo Iacono
Author-X-Name-First: Joseph
Author-X-Name-Last: Lo Iacono
Author-Name: Scott K. Weaven
Author-X-Name-First: Scott K.
Author-X-Name-Last: Weaven
Author-Name: Deborah Griffin
Author-X-Name-First: Deborah
Author-X-Name-Last: Griffin
Title: Examination into the effects of job satisfaction on salesperson deviance: The moderating role of customer orientation
Abstract:
Salesperson deviance represents a significant cost to organizations
throughout the world. This paper addresses a gap in the literature by
examining all three dimensions of salesperson deviance (i.e.,
organizational deviance, interpersonal deviance and customer-directed
deviance) and the moderating role of customer orientation. More
specifically and using a sales personnel sample, this research extends
current understanding of deviant behavior in two key areas. Our findings
show (1) a negative relationship between job satisfaction and each
dimension of salesperson deviance, and (2) customer orientation moderates
the relationship between job satisfaction and salesperson deviance. Thus,
we present a more holistic view of salesperson deviance and, in practical
terms, confirm that organizational stakeholders should proactively manage
the job satisfaction together with the customer orientation of their sales
staff in order to avoid and/or minimize deviant behaviors.
Journal: Journal of Business Economics and Management
Pages: 173-186
Issue: 2
Volume: 17
Year: 2016
Month: 4
X-DOI: 10.3846/16111699.2015.1046399
File-URL: http://hdl.handle.net/10.3846/16111699.2015.1046399
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Handle: RePEc:taf:jbemgt:v:17:y:2016:i:2:p:173-186
Template-Type: ReDIF-Article 1.0
Author-Name: Qi Huang
Author-X-Name-First: Qi
Author-X-Name-Last: Huang
Author-Name: Marshall S. Jiang
Author-X-Name-First: Marshall S.
Author-X-Name-Last: Jiang
Author-Name: Jianjun Miao
Author-X-Name-First: Jianjun
Author-X-Name-Last: Miao
Title: Effect of government subsidization on Chinese industrial firms’ technological innovation efficiency: A stochastic frontier analysis
Abstract:
This study aims to gain a better understanding of how effective government
subsidization is in helping foster firms’ innovation. Drawing on
the exploration/exploita- tion perspective and based on data collected
from Statistical Yearbook on Science and Technology Activities of
Industrial Enterprises, we look into the relationship between
gov- ernment subsidization and Chinese firms’ innovation efficiency
by applying a stochastic frontier analysis. The results show that when
government subsidies are provided in small scale, firms’ innovation
efficiency decreases; only when government subsidies increase to a certain
scale, does firms’ innovation efficiency start to increase. We
suggest that govern- ment subsidization would generate better innovation
performance should it concentrate on a smaller number of firms at one
time. As existing research is still inconclusive regarding the
relationship between government subsidization and firms’
technological innovation output, we shed light on the issue by revealing a
“U-shaped” relationship between the two.
Journal: Journal of Business Economics and Management
Pages: 187-200
Issue: 2
Volume: 17
Year: 2016
Month: 4
X-DOI: 10.3846/16111699.2015.1061590
File-URL: http://hdl.handle.net/10.3846/16111699.2015.1061590
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Handle: RePEc:taf:jbemgt:v:17:y:2016:i:2:p:187-200
Template-Type: ReDIF-Article 1.0
Author-Name: Aleksandras Vytautas Rutkauskas
Author-X-Name-First: Aleksandras Vytautas
Author-X-Name-Last: Rutkauskas
Author-Name: Aleksandr Ostapenko
Author-X-Name-First: Aleksandr
Author-X-Name-Last: Ostapenko
Title: Return, reliability and risk as a proactive set of concepts in developing an efficient integration strategy of companies
Abstract:
For companies that cannot boast about the abundance of resources available
for development, it is particularly important to focus their efforts on
the optimum use of such resources and to ensure the reliability of change
in the development process to counterbalance the potential losses caused
by uncertainty and risk. The article explores the theoretical
substantiation for the integral management system of processes covered by
the concepts of efficiency, reliability and risk of development. Also, it
looks at the practical application of the system through the examination
of a specific situation by employing analytical possibilities of a
stochastic network. It should also be noted that the concepts of
efficiency, reliability and risk are used not only in the assessment of
the key development processes of a company but also in the deliberation of
the real formation of input as well as its transformation into output
results. To formulate and solve the management problems of the complex
system, a number of methods were used, namely, the stochastic recording of
the aims, the existing restrictions and the stochastic optimisation.
Journal: Journal of Business Economics and Management
Pages: 201-214
Issue: 2
Volume: 17
Year: 2016
Month: 4
X-DOI: 10.3846/16111699.2016.1150876
File-URL: http://hdl.handle.net/10.3846/16111699.2016.1150876
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Handle: RePEc:taf:jbemgt:v:17:y:2016:i:2:p:201-214
Template-Type: ReDIF-Article 1.0
Author-Name: Ignacio Castro
Author-X-Name-First: Ignacio
Author-X-Name-Last: Castro
Author-Name: José L. Galán
Author-X-Name-First: José L.
Author-X-Name-Last: Galán
Author-Name: Cristóbal Casanueva
Author-X-Name-First: Cristóbal
Author-X-Name-Last: Casanueva
Title: Management of alliance portfolios and the role of the board of directors
Abstract:
The objective of the present work consists in testing whether the
strategic involvement of boards of directors has a positive influence on
the development of alliance portfolio management capability and on the
value that the alliance portfolio generates. A variance-based structural
equation modelling (Partial Least Squares) has been applied to a sample
constituted by 139 top Spanish companies. Our analysis shows that the
strategic involvement of the board of directors has a positive and
influence on the management of alliance portfolios, thereby influencing
the value of that portfolio in an indirect way. Unlike previous
literature, this study links the functions of the board of directors to
organizational capabilities, connecting the literature on corporate
governance and on management of alliance portfolios.
Journal: Journal of Business Economics and Management
Pages: 215-233
Issue: 2
Volume: 17
Year: 2016
Month: 4
X-DOI: 10.3846/16111699.2014.958093
File-URL: http://hdl.handle.net/10.3846/16111699.2014.958093
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Handle: RePEc:taf:jbemgt:v:17:y:2016:i:2:p:215-233
Template-Type: ReDIF-Article 1.0
Author-Name: Guillermo O. Pérez-Bustamante Ilander
Author-X-Name-First: Guillermo O.
Author-X-Name-Last: Pérez-Bustamante Ilander
Author-Name: Carla S. E. Marques
Author-X-Name-First: Carla S. E.
Author-X-Name-Last: Marques
Author-Name: Marjan S. Jalali
Author-X-Name-First: Marjan S.
Author-X-Name-Last: Jalali
Author-Name: Fernando A. F. Ferreira
Author-X-Name-First: Fernando A. F.
Author-X-Name-Last: Ferreira
Title: The impact of continuous training in small and medium enterprises: Lessons from an industrial case analysis
Abstract:
In the current competitive environment, great emphasis is placed on the
knowl- edge and skills of the workforce as important elements in achieving
organizational goals. As this focus on employee skills has increased, so
have organizational programs and initiatives to ensure that the training
in place to develop those skills is not sporadic, but rather part of a
continuous effort toward keeping employee skills up to date. It becomes
fundamental, in this context, to understand such programs and evaluate
their impact, both within companies and externally, in terms of their
decision making and business results. This paper aims to do that, through
a study of the work-related training practices of in- dustrial firms in
the Northern-Spanish region of Asturias. In addition, it develops a new
variable -- training intensity -- and examines its impact
on the planning, execution and evaluation of training programs in these
firms. Among other findings, our study confirms that training-intensive
firms have a more defined strategic approach to the market and are
generally more conscious of business competition than their
non-training-intensive competitors. Implications for management are also
presented.
Journal: Journal of Business Economics and Management
Pages: 234-250
Issue: 2
Volume: 17
Year: 2016
Month: 4
X-DOI: 10.3846/16111699.2014.938359
File-URL: http://hdl.handle.net/10.3846/16111699.2014.938359
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Handle: RePEc:taf:jbemgt:v:17:y:2016:i:2:p:234-250
Template-Type: ReDIF-Article 1.0
Author-Name: Adam Zaremba
Author-X-Name-First: Adam
Author-X-Name-Last: Zaremba
Author-Name: Michał Płotnicki
Author-X-Name-First: Michał
Author-X-Name-Last: Płotnicki
Title: Mergers and acquisitions: Evidence on post-announcement performance from CEE stock markets
Abstract:
The paper re-examines the short-term and long-term performance following
announcements of mergers and acquisitions. This is the first study that
comprehensively explores this phenomenon in Central and Eastern European
countries. We find strong evidence that announcement of a takeover creates
value for both bidders and acquirers in the short run. Simultaneously,
contrary to the stylized fact reported by a majority of U.S. based
studies, after controlling for local value, size, and momentum factors the
mergers and acquisitions do not destroy the value of the acquirers in the
long term. The observations are important for corporate governance and
portfolio management. The research is based on 109 deals in years
2001--2014. For the short-horizon event studies, we calculate average
cumulative abnormal returns and we employ of the zero, index, and market
models. For the long-run studies, we build equally and
capitalization-weighted calendar-time portfolios and test their
performances with CAPM, three-factor and four-factor models.
Journal: Journal of Business Economics and Management
Pages: 251-266
Issue: 2
Volume: 17
Year: 2016
Month: 4
X-DOI: 10.3846/16111699.2015.1104384
File-URL: http://hdl.handle.net/10.3846/16111699.2015.1104384
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Handle: RePEc:taf:jbemgt:v:17:y:2016:i:2:p:251-266
Template-Type: ReDIF-Article 1.0
Author-Name: Nataša Urbančíková
Author-X-Name-First: Nataša
Author-X-Name-Last: Urbančíková
Author-Name: Peter Burger
Author-X-Name-First: Peter
Author-X-Name-Last: Burger
Title: Centralised or decentralised public financing of clusters
Abstract:
The public funds have become a major source of finance for clusters in the
last decade, also in European countries. The source of financing clusters
and innovation performance of the countries is directly connected to
subjects of the national/regional cluster policy, i.e. to its
centralisation. The paper examines the relationship between European
country attitude towards financial support provided for cluster and
country innovative performance in a sample of 125 clusters from 25
European countries. The own empirical investigation is based on primary
research using the Kruskal-Wallis test and Mann-Whitney tests with
Bonferroni. The investigation is focused on facts whether statistically
significant differences in the amount of subsidies from national,
regional, local and “European” levels between clusters in
European countries influence their level of innovation performance. The
finding shows that there are no statistically significant differences in
the exploitation of resources from the Structural Funds and community
programmes of the EU in the examined clusters in the countries with
different levels of innovation performance. However, the clusters in the
countries with higher levels of innovation performance receive funds in
the form of central government and regional self-government subsidies more
frequently than the clusters in the countries with lower levels of
innovation performance.
Journal: Journal of Business Economics and Management
Pages: 267-282
Issue: 2
Volume: 17
Year: 2016
Month: 4
X-DOI: 10.3846/16111699.2013.839477
File-URL: http://hdl.handle.net/10.3846/16111699.2013.839477
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Handle: RePEc:taf:jbemgt:v:17:y:2016:i:2:p:267-282
Template-Type: ReDIF-Article 1.0
Author-Name: Tomas Baležentis
Author-X-Name-First: Tomas
Author-X-Name-Last: Baležentis
Title: Stochastic production frontier for the Lithuanian family farms
Abstract:
The research follows neo-classical methodology to analyse the trends of
the agricultural efficiency. The paper fits the stochastic production
frontier to the micro data describing the performance of the Lithuanian
family farms during 2004--2009 in order to define the current trends of
efficiency and productivity in the sector. Indeed, this is the first
application of stochastic frontiers to gauge the performance of Lithuanian
family farms. The technical efficiency of the Lithuanian family farms
fluctuated around 80%. The analysis confirmed that the livestock farms
were peculiar with higher mean technical efficiency if compared to that of
mixed or crop farms. The estimated partial output elasticities imply that
the intermediate consumption was the most productive factor, whereas
assets were four to six times less productive depending on the farming
type. The land factor was peculiar with the lowest partial output
elasticities. The research contributes to the wider discussion on the
patterns of efficiency and productivity in a transition European Union
Member States following the accession.
Journal: Journal of Business Economics and Management
Pages: 283-298
Issue: 2
Volume: 17
Year: 2016
Month: 4
X-DOI: 10.3846/16111699.2013.770791
File-URL: http://hdl.handle.net/10.3846/16111699.2013.770791
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Handle: RePEc:taf:jbemgt:v:17:y:2016:i:2:p:283-298
Template-Type: ReDIF-Article 1.0
Author-Name: Ciarán Mac An Bhaird
Author-X-Name-First: Ciarán
Author-X-Name-Last: Mac An Bhaird
Author-Name: Declan Curran
Author-X-Name-First: Declan
Author-X-Name-Last: Curran
Title: Sectoral differences in determinants of export intensity
Abstract:
This study investigates firm characteristic determinants of export
intensity in small firms. The originality of our approach is a comparative
analysis of export intensity between firms in the computer software and
manufacturing sectors, using a quasi-maximum likelihood estimation to test
for the correct specification of the conditional mean model. Results
indicate that larger, younger firms have greater export intensity in the
computer software sector than in manufacturing. Research and development
expenditure is equally important for export intensity in both sectors, but
patent income is not significant. Sourcing managerial advice and expertise
from the national development agency is important for firms in the
manufacturing industry, but not for computer software firms. It is
therefore important for export promotion organisations to publicise
supports, as few small firms are aware of their availability. Our findings
are especially valuable for policy makers concerned with low levels of
export intensity among small firms.
Journal: Journal of Business Economics and Management
Pages: 299-313
Issue: 2
Volume: 17
Year: 2016
Month: 4
X-DOI: 10.3846/16111699.2015.1070196
File-URL: http://hdl.handle.net/10.3846/16111699.2015.1070196
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Handle: RePEc:taf:jbemgt:v:17:y:2016:i:2:p:299-313
Template-Type: ReDIF-Article 1.0
Author-Name: Pankaj Madan
Author-X-Name-First: Pankaj
Author-X-Name-Last: Madan
Author-Name: Vinay Sharma
Author-X-Name-First: Vinay
Author-X-Name-Last: Sharma
Author-Name: Piyush Seth
Author-X-Name-First: Piyush
Author-X-Name-Last: Seth
Title: Capability’ development through ICT enabled business opportunity development model of e-Choupal
Abstract:
The purpose of this study is to check how ICT led business opportunity
devel- opment model of ITC e-Choupal affected “Capability”
development of the people in rural India. The survey of three different
regions of India, included 319 e-Choupal beneficiaries and 10 ITC
officials and elected representatives of villages. Statistical analysis
revealed that Capability Enhancement of farmers depended on the extent to
which farmers trusted and participated in ICT activities that varied based
on their education level but specifically e-Choupal could generate only
limited business opportunities for rural masses. However, the business
opportunities definitely affected the capability enhancement parameters.
The ICT enabled business models can be well used by corporates and
governments of devel- oping economies in Asia and Africa for capability
development of rural masses as these models provide new business
opportunities for them. The field survey based framework showed how ICT
based business opportunity development model of e-Choupal can affect the
income, time and saving of farmers in developing economy.
Journal: Journal of Business Economics and Management
Pages: 314-330
Issue: 2
Volume: 17
Year: 2016
Month: 4
X-DOI: 10.3846/16111699.2012.747445
File-URL: http://hdl.handle.net/10.3846/16111699.2012.747445
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Handle: RePEc:taf:jbemgt:v:17:y:2016:i:2:p:314-330
Template-Type: ReDIF-Article 1.0
Author-Name: Yih-Chang Ou
Author-X-Name-First: Yih-Chang
Author-X-Name-Last: Ou
Title: Using a Hybrid Decision-Making Model to Evaluate the Sustainable Development Performance of High-Tech Listed Companies
Abstract:
In this study, we use a triple bottom-line concept including economic,
social and environmental performance as the sustainable development
performance evaluation categories for companies. Moreover, an integrated
model based on grey relational analysis, decision-making trial and
evaluation laboratory, analytic network process and the technique for
order preference by similarity to ideal solution is proposed for solving a
corporate sustainability performance evaluation and ranking problem. In
order to verify the proposed model, we adopt 34 high-tech listed companies
in Taiwan as the research object to measure companies’ sustainable
development performance and ranking in 2013. The results can be used as an
important basis for management decision-making, and can also serve as
reference for banks and investors when developing investment strategy.
Journal: Journal of Business Economics and Management
Pages: 331-346
Issue: 3
Volume: 17
Year: 2016
Month: 6
X-DOI: 10.3846/16111699.2015.1110713
File-URL: http://hdl.handle.net/10.3846/16111699.2015.1110713
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Handle: RePEc:taf:jbemgt:v:17:y:2016:i:3:p:331-346
Template-Type: ReDIF-Article 1.0
Author-Name: Serkan Altuntas
Author-X-Name-First: Serkan
Author-X-Name-Last: Altuntas
Author-Name: Mustafa Kemal Yilmaz
Author-X-Name-First: Mustafa Kemal
Author-X-Name-Last: Yilmaz
Title: Fuzzy Dematel Method to Evaluate the Dimensions of Marketing Resources: An Application in SMEs
Abstract:
Identifying the cause and effect factors of marketing resources and
prioritizing them with respect to their level of importance can build
superior market performance for companies. Although there have been some
studies in the literature which have used marketing resource dimensions to
conduct their research, these studies have not considered the
relationships between marketing resource dimensions. Therefore, the aim of
this study is to identify the cause and effect factors of marketing
resources and to prioritize them in terms of their importance using the
fuzzy Decision-Making Trial and Evaluation Laboratory method. The findings
of this study suggest that the dimension managerial
capabilities, composed of financial management,
effective human resource management and good
operations management expertise, exerts a greater influence on
marketing strategy than other criteria. In addition, the criterion
credibility with customers through being well established in the
market is the most important aspect of marketing resources.
Journal: Journal of Business Economics and Management
Pages: 347-364
Issue: 3
Volume: 17
Year: 2016
Month: 6
X-DOI: 10.3846/16111699.2015.1068220
File-URL: http://hdl.handle.net/10.3846/16111699.2015.1068220
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Handle: RePEc:taf:jbemgt:v:17:y:2016:i:3:p:347-364
Template-Type: ReDIF-Article 1.0
Author-Name: Bohumil Stádník
Author-X-Name-First: Bohumil
Author-X-Name-Last: Stádník
Author-Name: Jurgita Raudeliūnienė
Author-X-Name-First: Jurgita
Author-X-Name-Last: Raudeliūnienė
Author-Name: Vida Davidavičienė
Author-X-Name-First: Vida
Author-X-Name-Last: Davidavičienė
Title: Fourier Analysis for Stock Price Forecasting: Assumption and Evidence
Abstract:
The research addressed the relevant question whether the Fourier analysis
really provides practical value for investors forecasting stock market
price. To answer this question, the significant cycles were discovered
using the Fourier analysis inside the price series of US stocks; then, the
simulation of an agent buying and selling on minima and maxima of these
cycles was made. The results were then compared to those of an agent
operating chaotically. Moreover, the existing significant cycles were
found using more precise methods, suggested in the research, and based on
the results of an agent buying and selling on all possible periods and
phases. It has been analysed whether these really existing cycles were in
accordance with the significant cycles resulting from the Fourier
analysis. It has been concluded that the Fourier analysis basically
failed. Suchlike failures are expected on similar data series. In
addition, momentum and level trading backtests have been used in a similar
way. It has been found that the level trading does provide a certain
practical value in comparison to the momentum trading method. The research
also simplifies the complicated theoretical background for practitioners.
Journal: Journal of Business Economics and Management
Pages: 365-380
Issue: 3
Volume: 17
Year: 2016
Month: 6
X-DOI: 10.3846/16111699.2016.1184180
File-URL: http://hdl.handle.net/10.3846/16111699.2016.1184180
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Handle: RePEc:taf:jbemgt:v:17:y:2016:i:3:p:365-380
Template-Type: ReDIF-Article 1.0
Author-Name: Ahmad Zubaidi Baharumshah
Author-X-Name-First: Ahmad Zubaidi
Author-X-Name-Last: Baharumshah
Author-Name: Siew-Voon Soon
Author-X-Name-First: Siew-Voon
Author-X-Name-Last: Soon
Author-Name: Stilianos Fountas
Author-X-Name-First: Stilianos
Author-X-Name-Last: Fountas
Author-Name: Nurul Sima Mohamad Shariff
Author-X-Name-First: Nurul Sima
Author-X-Name-Last: Mohamad Shariff
Title: Persistence of Real Exchange Rates in the Central and Eastern European Countries
Abstract:
We investigate the mean reversion in real exchange rates for Central and
Eastern European countries. We use point and confidence interval estimates
from the Phillips et al.’s (2001) local-persistent
model as our preferred measures of the persistence of real exchange rates.
We find that the adjustment to purchasing power parity is more rapid after
accounting for structural breaks, with half-life deviation from parity
below 18 months, which is consistent with the explanation based on nominal
rigidities. The estimated narrow confidence intervals for the half-lives
invalidate the purchasing power parity puzzle for transition and some core
European Union countries. The novelty of our results lies in the finding
of strong evidence for purchasing power parity as the local-persistent
model produces shorter half-lives and much narrower corresponding
confidence intervals than those obtained by standard Dickey-Fuller and
local-to-unity models. Our evidence for PPP suggests that the transition
countries have maintained their long-run competitiveness against their
trading partners.
Journal: Journal of Business Economics and Management
Pages: 381-396
Issue: 3
Volume: 17
Year: 2016
Month: 6
X-DOI: 10.3846/16111699.2015.1101396
File-URL: http://hdl.handle.net/10.3846/16111699.2015.1101396
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Handle: RePEc:taf:jbemgt:v:17:y:2016:i:3:p:381-396
Template-Type: ReDIF-Article 1.0
Author-Name: José M. Merigó
Author-X-Name-First: José M.
Author-X-Name-Last: Merigó
Author-Name: Alba Rocafort
Author-X-Name-First: Alba
Author-X-Name-Last: Rocafort
Author-Name: Juan Pedro Aznar-Alarcón
Author-X-Name-First: Juan Pedro
Author-X-Name-Last: Aznar-Alarcón
Title: Bibliometric Overview of Business & Economics Research
Abstract:
Bibliometrics is the quantitative study of bibliographic information. It
classifies the information according to different criteria including
authors, journals, institutions and countries. This paper presents a
general bibliometric overview of the most influential research in business
& economics according to the information found in the Web of Science. It
includes research from different subcategories including business,
business finance, economics and management. For doing so, four general
lists are presented: the 50 most cited papers in business & economics of
all time, the 40 most influential journals, the 40 most relevant
institutions and the most influential countries. The results permit to
obtain a general picture of the most significant research in business &
economics. This information is very useful in order to identify the
leading trends in this area.
Journal: Journal of Business Economics and Management
Pages: 397-413
Issue: 3
Volume: 17
Year: 2016
Month: 6
X-DOI: 10.3846/16111699.2013.807868
File-URL: http://hdl.handle.net/10.3846/16111699.2013.807868
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Handle: RePEc:taf:jbemgt:v:17:y:2016:i:3:p:397-413
Template-Type: ReDIF-Article 1.0
Author-Name: Abdul Suleman
Author-X-Name-First: Abdul
Author-X-Name-Last: Suleman
Author-Name: Fátima Suleman
Author-X-Name-First: Fátima
Author-X-Name-Last: Suleman
Author-Name: Elizabeth Reis
Author-X-Name-First: Elizabeth
Author-X-Name-Last: Reis
Title: Fuzzy approach to discrete data reduction: an application in economics for assessing the skill premium
Abstract:
Measures of stock of skills alternative to human capital have raised fresh
difficulties, especially in data managing. We propose to empirically
compare the efficiency of a hierarchical cluster analysis and a fuzzy
clustering in reducing discrete skill data. The outcomes of both methods
are subsequently used to measure the impact of skills on earnings in
addition to human capital. The proposed methodological comparison was made
using an original dataset of retail bankers’ skills assessed by
supervisors. Empirical evidence shows that the fuzzy approach is more
efficient than the hierarchical clustering: the resulting clusters are
fewer and easier to interpret. Furthermore, the earnings equation enriched
with skill variables allowed us to correct the education premium, and
provides information on monetary incentives related to individual skills.
Our paper attempts to raise researchers’ and practitioners’
awareness of data reducing methods, and their implications for wage
determinants.
Journal: Journal of Business Economics and Management
Pages: 414-429
Issue: 3
Volume: 17
Year: 2016
Month: 6
X-DOI: 10.3846/16111699.2014.978361
File-URL: http://hdl.handle.net/10.3846/16111699.2014.978361
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Handle: RePEc:taf:jbemgt:v:17:y:2016:i:3:p:414-429
Template-Type: ReDIF-Article 1.0
Author-Name: Toma Lankauskienė
Author-X-Name-First: Toma
Author-X-Name-Last: Lankauskienė
Title: Application of the growth accounting method for the construction industry
Abstract:
As the growth accounting method can suggest research benefits, this paper
is dedicated to the application of the method in the construction
industry. The lack of methodologies for the application of the method in
the less developed countries has necessitated the design of the
methodology presented in the paper. Once the methodology is composed,
comparable results can be obtained on the fulfilment of international
academic standards. The paper presents the main methodological problems
faced by the author while working on the problem. In addition, it enables
the identification of the proximate sources of growth as well as the
performance of economic analysis from a comparative perspective of
countries at different stages of development. The scientific merit of the
paper -- the entire group of intangible capital rather than only software
will correspond to knowledge based capital. The results suggest that
Lithuania is in a rather strong position in terms of productivity growth,
but the same could not be said when considering the structure of its main
determinants compared with the more developed countries.
Journal: Journal of Business Economics and Management
Pages: 430-443
Issue: 3
Volume: 17
Year: 2016
Month: 6
X-DOI: 10.3846/16111699.2016.1173580
File-URL: http://hdl.handle.net/10.3846/16111699.2016.1173580
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Handle: RePEc:taf:jbemgt:v:17:y:2016:i:3:p:430-443
Template-Type: ReDIF-Article 1.0
Author-Name: Alejandro Cotes-Torres
Author-X-Name-First: Alejandro
Author-X-Name-Last: Cotes-Torres
Author-Name: Pablo Antonio Muñoz-Gallego
Author-X-Name-First: Pablo Antonio
Author-X-Name-Last: Muñoz-Gallego
Author-Name: José Miguel Cotes-Torres
Author-X-Name-First: José Miguel
Author-X-Name-Last: Cotes-Torres
Title: Technological complexity: a tool for understanding the behaviour of consumers of high value-added foodstuffs
Abstract:
This article proposes and develops the concept of technological complexity
(TC) as a useful and simple tool for grouping key attributes that give
added value to a product. In addition, it reports an empirical application
of this concept to two different food products (cured ham and cured
sausage). The authors used a mixed-effects multi-nomial logistic
regression model and show that in the cured pork product agribusiness, a
low frequency of consumption favours the acceptance of high TC products.
The results also confirm that marketing high TC products in stores with a
large assortment decreases the chances of success for agribusiness
companies that produce cured pork food products. These finding can be used
by the managers for designing complementary attributes that improve their
product portfolio. Besides, advertising expenditures associated with
introducing new products could be reduced if companies strengthened their
presence in specialty stores.
Journal: Journal of Business Economics and Management
Pages: 444-457
Issue: 3
Volume: 17
Year: 2016
Month: 6
X-DOI: 10.3846/16111699.2014.987159
File-URL: http://hdl.handle.net/10.3846/16111699.2014.987159
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Handle: RePEc:taf:jbemgt:v:17:y:2016:i:3:p:444-457
Template-Type: ReDIF-Article 1.0
Author-Name: Monica-Violeta Achim
Author-X-Name-First: Monica-Violeta
Author-X-Name-Last: Achim
Author-Name: Sorin-Nicolae Borlea
Author-X-Name-First: Sorin-Nicolae
Author-X-Name-Last: Borlea
Author-Name: Codruţa Mare
Author-X-Name-First: Codruţa
Author-X-Name-Last: Mare
Title: Corporate Governance and Business Performance: Evidence for the Romanian Economy
Abstract:
Our finding contributes towards the understanding of movements regarding
the adoption of corporate governance practice in emerging countries such
as Romania and its impact on business performances of a company.We have
developed two econometric models to assess the business performances of
the companies listed on Bucharest Stock Exchange, in order to point out
the impact of corporate governance on business performances. Our results
are inconsistent for the period 2001--2011, but if we consider only 2011,
the results document a positive correlation between corporate governance
quality and market value of companies, such it is reflected by
Tobin’s Q. Therefore, our results contribute to the studies
relating corporate governance and business performances, as it confirms a
positive relationship between the two variables which appears once the
Romanian emerging economy has began to adopt the best corporate governance
practices.Firstly, our research has important implications for managers in
order to know that the adoption of the best corporate governance practices
could contribute to the financial success of the firm. Secondly, the
results are useful for any investor who needs to consider the quality of
corporate governance as a good predictor for the best rate of return of
theirs investments. Moreover, our findings have also implications on
policy-makers and regulatory authorities in European developing countries
and offer them a barometer of adopting the best corporate governance
practices in European space.
Journal: Journal of Business Economics and Management
Pages: 458-474
Issue: 3
Volume: 17
Year: 2016
Month: 6
X-DOI: 10.3846/16111699.2013.834841
File-URL: http://hdl.handle.net/10.3846/16111699.2013.834841
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Handle: RePEc:taf:jbemgt:v:17:y:2016:i:3:p:458-474
Template-Type: ReDIF-Article 1.0
Author-Name: Milena Tvrdíková
Author-X-Name-First: Milena
Author-X-Name-Last: Tvrdíková
Title: Increasing the business potential of companies by ensuring continuity of the development of their information systems by current information technologies
Abstract:
This paper deals with applications of information and communication
technologies in the management of companies and institutions. It also
focuses on Competitive Intelligence and Business Intelligence and the
description of their position in business management. The paper presents
current trends in information and communication technologies with emphasis
on the use of virtualization and Cloud Computing technologies. The author
discusses the importance of Cloud Computing to maintain the continuity of
information system of enterprises with low financial impact, thereby
increasing its stability. Theoretical framework and literature support the
assumption that information and communication technologies are essential
for the competitiveness of small and mediumsized enterprises. Discussed
are factors that affect management and use of information and
communication technologies in small and medium-sized enterprises, in
particular the use of cloud computing. Based on the results obtained from
a questionnaire survey carried out in the Czech Republic, the author
proposed methodological recommendations to facilitate the transition to
cloud computing.
Journal: Journal of Business Economics and Management
Pages: 475-489
Issue: 3
Volume: 17
Year: 2016
Month: 6
X-DOI: 10.3846/16111699.2013.839475
File-URL: http://hdl.handle.net/10.3846/16111699.2013.839475
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Handle: RePEc:taf:jbemgt:v:17:y:2016:i:3:p:475-489
Template-Type: ReDIF-Article 1.0
Author-Name: Neringa Slavinskaitė
Author-X-Name-First: Neringa
Author-X-Name-Last: Slavinskaitė
Title: Fiscal decentralization and economic growth in selected European countries
Abstract:
The paper analyses the fiscal decentralization effects on economic growth in unitary countries of European Union for the period 2005–2014. The empirical analysis was based on the multiple regression method. The fixed effect panel model was used as framework for the analysis. In order to examine the different impact of fiscal decentralization, the same analysis was applied to subsets of countries categorized into two groups according to countries’ level of economic development. This further analysis found that there is positive relationship between fiscal decentralization and economic growth in low level of economically developing countries and no relationship in high level of economically developed countries. These results suggested that fiscal decentralization is not always instrument for promotion of economic growth, which means that country’s economic development level is an important factor when introducing reform of fiscal decentralization. The originality of this article – new fiscal decentralization index and evaluated fiscal decentralization level influence for countries economic growth.
Journal: Journal of Business Economics and Management
Pages: 745-757
Issue: 4
Volume: 18
Year: 2017
Month: 7
X-DOI: 10.3846/16111699.2017.1292312
File-URL: http://hdl.handle.net/10.3846/16111699.2017.1292312
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Handle: RePEc:taf:jbemgt:v:18:y:2017:i:4:p:745-757
Template-Type: ReDIF-Article 1.0
Author-Name: Hsin-Hui Lin
Author-X-Name-First: Hsin-Hui
Author-X-Name-Last: Lin
Author-Name: Hsien-Ta Li
Author-X-Name-First: Hsien-Ta
Author-X-Name-Last: Li
Author-Name: Yi-Shun Wang
Author-X-Name-First: Yi-Shun
Author-X-Name-Last: Wang
Author-Name: Timmy H. Tseng
Author-X-Name-First: Timmy H.
Author-X-Name-Last: Tseng
Author-Name: Ya-Ling Kao
Author-X-Name-First: Ya-Ling
Author-X-Name-Last: Kao
Author-Name: Min-Yi Wu
Author-X-Name-First: Min-Yi
Author-X-Name-Last: Wu
Title: Predicting customer lifetime value for hypermarket private label products
Abstract:
This study develops a model to predict customer lifetime value for hypermarket private label products. It examines the relationships among store awareness, store image variables (i.e., service quality, price/value, convenience, and product quality), private label image, repurchase intention, and customer lifetime value and investigates the moderating role of image fit. The originality of this study lies in filling the gap of previous research on antecedents of private label customers’ behavior by considering store awareness, image fit, and customer lifetime value. Partial least squares structural equation modeling was used to analyze data. The results indicate the following. Store image variables (except product quality) and store awareness affect repurchase intention directly or indirectly through private label image. Image fit moderates the relationships between store image variables (except product quality) and private label image. Private label image facilitates customer lifetime value. This study provides several theoretical and practical implications for hypermarket private label product developments.
Journal: Journal of Business Economics and Management
Pages: 619-635
Issue: 4
Volume: 18
Year: 2017
Month: 7
X-DOI: 10.3846/16111699.2017.1308879
File-URL: http://hdl.handle.net/10.3846/16111699.2017.1308879
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Handle: RePEc:taf:jbemgt:v:18:y:2017:i:4:p:619-635
Template-Type: ReDIF-Article 1.0
Author-Name: Rasa Smaliukienė
Author-X-Name-First: Rasa
Author-X-Name-Last: Smaliukienė
Author-Name: Svajonė Bekešienė
Author-X-Name-First: Svajonė
Author-X-Name-Last: Bekešienė
Author-Name: Eugenijus Chlivickas
Author-X-Name-First: Eugenijus
Author-X-Name-Last: Chlivickas
Author-Name: Marius Magyla
Author-X-Name-First: Marius
Author-X-Name-Last: Magyla
Title: Explicating the role of trust in knowledge sharing: a structural equation model test
Abstract:
Although the large body of literature suggests that trust is a prerequisite for knowledge sharing, the understanding of mediational pathways remains limited. The paper fills the gap by combining two separate streams in knowledge sharing, where the first reflects the paradigm of the organizational behaviour theory and highlights the impact of organizational culture and employees’ trust; where the second one discloses the impact of technology deployment in knowledge sharing. Building on the premises that interdependence between variables that affect knowledge sharing raises form organizational culture of trust and available technologies, we examine the structural origins of knowledge sharing. As a method structural equation modelling test was used to analyse the data. Hypothesised five-factor model was tested through two stages using AMOS software. The findings carry theoretical implications for the knowledge management body of knowledge since they extended the research on knowledge sharing by integrating organisational culture and technological solutions into one complex system. Form practical perspective, the relationship among four predictors – trust in leadership, trust in co-workers, trust in technologies for knowledge management, and fear of losing one’s value – provide a proof on how organizations knowledge sharing is composed and how it could be developed.
Journal: Journal of Business Economics and Management
Pages: 758-778
Issue: 4
Volume: 18
Year: 2017
Month: 7
X-DOI: 10.3846/16111699.2017.1317019
File-URL: http://hdl.handle.net/10.3846/16111699.2017.1317019
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Handle: RePEc:taf:jbemgt:v:18:y:2017:i:4:p:758-778
Template-Type: ReDIF-Article 1.0
Author-Name: Dragisa Stanujkic
Author-X-Name-First: Dragisa
Author-X-Name-Last: Stanujkic
Author-Name: Edmundas Kazimieras Zavadskas
Author-X-Name-First: Edmundas Kazimieras
Author-X-Name-Last: Zavadskas
Author-Name: Darjan Karabasevic
Author-X-Name-First: Darjan
Author-X-Name-Last: Karabasevic
Author-Name: Zenonas Turskis
Author-X-Name-First: Zenonas
Author-X-Name-Last: Turskis
Author-Name: Violeta Keršulienė
Author-X-Name-First: Violeta
Author-X-Name-Last: Keršulienė
Title: New group decision-making ARCAS approach based on the integration of the SWARA and the ARAS methods adapted for negotiations
Abstract:
Groups are generally considered to be more effective as compared to single individuals. The practical implementation of Operation Research methods in group negotiations needs simple contexts and clear cause-and-effect relationships easily discernible by everyone. This paper proposes a multi-criteria group decision-making approach allowing decision makers/experts involved in a negotiation process to better express and defend their preferences in the selection of the best alternative. In the proposed approach, the most appropriate alternative is the alternative with the largest number of appearances in the first position or in ranking lists, or the one determined based on negotiations of decision makers/experts. The proposed ARCAS approach is based on the use of the ARAS method, a new normalization procedure, and the SWARA method. In the proposed approach, each decision maker/expert involved in evaluation has an opportunity to set the preferred level of rating for each criterion used in such evaluation. Finally, a case study is presented in order to highlight the proposed approach. The obtained results confirm the usability and efficiency of the proposed approach.
Journal: Journal of Business Economics and Management
Pages: 599-618
Issue: 4
Volume: 18
Year: 2017
Month: 7
X-DOI: 10.3846/16111699.2017.1327455
File-URL: http://hdl.handle.net/10.3846/16111699.2017.1327455
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Handle: RePEc:taf:jbemgt:v:18:y:2017:i:4:p:599-618
Template-Type: ReDIF-Article 1.0
Author-Name: Dragos Sebastian Cristea
Author-X-Name-First: Dragos Sebastian
Author-X-Name-Last: Cristea
Author-Name: Liliana Mihaela Moga
Author-X-Name-First: Liliana Mihaela
Author-X-Name-Last: Moga
Author-Name: Mihaela Neculita
Author-X-Name-First: Mihaela
Author-X-Name-Last: Neculita
Author-Name: Olegas Prentkovskis
Author-X-Name-First: Olegas
Author-X-Name-Last: Prentkovskis
Author-Name: Khalil Md Nor
Author-X-Name-First: Khalil
Author-X-Name-Last: Md Nor
Author-Name: Abbas Mardani
Author-X-Name-First: Abbas
Author-X-Name-Last: Mardani
Title: Operational shipping intelligence through distributed cloud computing
Abstract:
This paper provides a conceptual architecture for a cloud based platform design, that implements continuously data storage and analysis services for large maritime ships, with the purpose to provide valuable insights for maritime transportation business. We do this by first identifying the need on the shipping market for such kind of systems and also the significance and impact of different factors related to shipping business processes. The architecture presented throughout this paper will be defined around some of the most currently used ICT technologies, like Amazon Cloud Services, Sql Server Databases, .NET Platform, Matlab 2016 or JavaScript visualization libraries. The proposed system makes possible for a maritime company to gain more knowledge for optimizing the efficiency of its operations, to increase its financial benefits and its competitive advantage. The platform architecture was designed to make possible the storage and manipulation of very large datasets, also allowing the possibility of using different data mining techniques for inferring knowledge or to validate already existent models. Ultimately, the developed methodology and the presented outcomes demonstrate a vast potential of creating better technological management systems for the shipping industry, starting from the challenges but also from the huge opportunities this sector can offer.
Journal: Journal of Business Economics and Management
Pages: 695-725
Issue: 4
Volume: 18
Year: 2017
Month: 7
X-DOI: 10.3846/16111699.2017.1329162
File-URL: http://hdl.handle.net/10.3846/16111699.2017.1329162
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Handle: RePEc:taf:jbemgt:v:18:y:2017:i:4:p:695-725
Template-Type: ReDIF-Article 1.0
Author-Name: Jon Reiersen
Author-X-Name-First: Jon
Author-X-Name-Last: Reiersen
Title: Trust as a booster
Abstract:
In his book Trust. The Evolutionary Game of Mind and Society, social psychologist Toshio Yamagishi (2011) states that trust can be viewed as a “booster rocket” that provides the necessary push for the take-off from the secure ground of committed relations. This article formalizes this idea with the help of a simple game theoretic model. The article looks at a situation where networks of personalized exchange relationships provide assurance against untrustworthy behaviour but reduce the opportunity to profit from trade in larger markets. Assuming that the anonymous market contains both trust-worthy and untrustworthy types, it is demonstrated that mutual trust relations can emerge, even when there is a clear danger of opportunism and the possibility of repeated interaction is ruled out. From a more practical perspective, the model provides an insight into the role trust plays for the decision to transact in networks or markets. It is also demonstrated that networks appear as mixed blessings. Networks reduce the problems arising from incomplete contracts and behavioural risk, but they also restrict individuals’ possibility to reap potential gains produced in larger markets.
Journal: Journal of Business Economics and Management
Pages: 585-598
Issue: 4
Volume: 18
Year: 2017
Month: 7
X-DOI: 10.3846/16111699.2017.1334228
File-URL: http://hdl.handle.net/10.3846/16111699.2017.1334228
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Handle: RePEc:taf:jbemgt:v:18:y:2017:i:4:p:585-598
Template-Type: ReDIF-Article 1.0
Author-Name: Mohammad Hashem-Nazari
Author-X-Name-First: Mohammad
Author-X-Name-Last: Hashem-Nazari
Author-Name: Akbar Esfahanipour
Author-X-Name-First: Akbar
Author-X-Name-Last: Esfahanipour
Author-Name: S.M.T. Fatemi Ghomi
Author-X-Name-First: S.M.T.
Author-X-Name-Last: Fatemi Ghomi
Title: Non-equidistant “Basic Form”-focused Grey Verhulst Models (NBFGVMs) for ill-structured socio-economic forecasting problems
Abstract:
Multiple uncertainties complicate socio-economic forecasting problems, especially when relying on ill-conditioned limited data. Such problems are best addressed by grey prediction models such as Grey Verhulst Model (GVM). This paper resolves the incompatibility between GVM’s estimation and prediction by taking its basic form equation as the basis of both. The resultant “Basic Form”-focused GVM (BFGVM) is also further developed to create Direct Non-equidistant BFGVM (DNBFGVM) and, in turn, DNBFGVM with Recursive simulation (DNBFGVMR). Experimental analyses comprise 19 socio-economic time series with an emphasis on Iranian population, a low-frequency non-equidistant time series with remarkable strategic importance. Promisingly, the proposed DNBFGVM and DNBFGVMR provide accurate in-sample and out-of-sample socio-economic forecasts, show highly significant improvements over the best traditional GVM, and offer cost-effective intelligent support of decision-making. Final results suggest future trends of studied socio-economic time series. Specifically, they reveal Iranian population to grow even slower than anticipated, demanding an urgent consideration of policy-makers.
Journal: Journal of Business Economics and Management
Pages: 676-694
Issue: 4
Volume: 18
Year: 2017
Month: 7
X-DOI: 10.3846/16111699.2017.1337045
File-URL: http://hdl.handle.net/10.3846/16111699.2017.1337045
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Handle: RePEc:taf:jbemgt:v:18:y:2017:i:4:p:676-694
Template-Type: ReDIF-Article 1.0
Author-Name: Xiaodi Liu
Author-X-Name-First: Xiaodi
Author-X-Name-Last: Liu
Author-Name: Zengwen Wang
Author-X-Name-First: Zengwen
Author-X-Name-Last: Wang
Author-Name: Antoinette Hetzler
Author-X-Name-First: Antoinette
Author-X-Name-Last: Hetzler
Title: HFMADM method based on nondimensionalization and its application in the evaluation of inclusive growth
Abstract:
Inclusive growth, which encompasses different aspects of life, is a growth pattern that allows all people to participate in and contribute to growth process. In this paper, a novel hesitant fuzzy multiple attribute decision making (HFMADM) approach based on the nondimensionalization of decision making attributes is presented and then applied to the evaluation of inclusive growth in China. Firstly, a novel generalized hesitant fuzzy distance measure is proposed to calculate the difference and deviation between two hesitant fuzzy elements (HFEs) without adding any values into the shorter hesitant fuzzy element. Secondly, the coefficient of variation and efficacy coefficient method are extended to accommodate hesitant fuzzy environment and then used to cope with HFMADM. In the analysis process, non-dimensional treatment for hesitant fuzzy decision data is produced. Lastly, the method proposed in this paper is applied to an example of inclusive growth evaluation problem under hesitant fuzzy environment and the case study illustrates the practicality of the proposed method. Beyond that, a comparative analysis with some other approaches is also conducted to demonstrate the superiority and feasibility of the proposed method.
Journal: Journal of Business Economics and Management
Pages: 726-744
Issue: 4
Volume: 18
Year: 2017
Month: 7
X-DOI: 10.3846/16111699.2017.1341848
File-URL: http://hdl.handle.net/10.3846/16111699.2017.1341848
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Handle: RePEc:taf:jbemgt:v:18:y:2017:i:4:p:726-744
Template-Type: ReDIF-Article 1.0
Author-Name: Kedong Yin
Author-X-Name-First: Kedong
Author-X-Name-Last: Yin
Author-Name: Zhe Liu
Author-X-Name-First: Zhe
Author-X-Name-Last: Liu
Author-Name: Peide Liu
Author-X-Name-First: Peide
Author-X-Name-Last: Liu
Title: Trend analysis of global stock market linkage based on a dynamic conditional correlation network
Abstract:
The paper analyses the trend of global stock market linkages via daily data of 51 stock indices spanning the period 22 July 2005 to 30 June 2016 which covers four regions: America, Europe, Asia Pacific and Africa. A dynamic conditional multivariate generalized autoregressive conditional heteroskedasticity (DCC-MVGARCH) approach was used to calculate dynamic correlation coefficient in order to construct the volatility networks. The methods of minimum spanning tree (MST) and low pass filter were for the first time applied to analyze the variable periodicity of the comovement. The original contribution of this paper is that contrary to previous works, financial events such as Quantitative Easing (QE) and Bailouts are accounted for rather than only crisis factors such as the 2008 financial crisis and the European Debt crisis. The main findings of the paper are as follows: (1) Financial crisis promotes and strengthens global stock markets linkage in the short run; (2) Linkage cycles post crisis are significantly short, due to the effect of monetary policy spillover effects caused by QE from developed to developing countries; and (3) European stock markets are the information transmission hub for global stock market. The research conclusions would be significant for both government to regulate markets as well as for investors to diversify risks.
Journal: Journal of Business Economics and Management
Pages: 779-800
Issue: 4
Volume: 18
Year: 2017
Month: 7
X-DOI: 10.3846/16111699.2017.1341849
File-URL: http://hdl.handle.net/10.3846/16111699.2017.1341849
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Handle: RePEc:taf:jbemgt:v:18:y:2017:i:4:p:779-800
Template-Type: ReDIF-Article 1.0
Author-Name: Ebenezer Fiifi Emire Atta Mills
Author-X-Name-First: Ebenezer Fiifi Emire
Author-X-Name-Last: Atta Mills
Author-Name: Bo Yu
Author-X-Name-First: Bo
Author-X-Name-Last: Yu
Author-Name: Jie Yu
Author-X-Name-First: Jie
Author-X-Name-Last: Yu
Title: Scaled and stable mean-variance-EVaR portfolio selection strategy with proportional transaction costs
Abstract:
This paper studies a portfolio optimization problem with variance and Entropic Value-at-Risk (EVaR) as risk measures. As the variance measures the deviation around the expected return, the introduction of EVaR in the mean-variance framework helps to control the downside risk of portfolio returns. This study utilized the squared l2-norm to alleviate estimation risk problems arising from the mean estimate of random returns. To adequately represent the variance-EVaR risk measure of the resulting portfolio, this study pursues rescaling by the capital accessible after payment of transaction costs. The results of this paper extend the classical Markowitz model to the case of proportional transaction costs and enhance the efficiency of portfolio selection by alleviating estimation risk and controlling the downside risk of portfolio returns. The model seeks to meet the requirements of regulators and fund managers as it represents a balance between short tails and variance. The practical implications of the findings of this study are that the model when applied, will increase the amount of capital for investment, lower transaction cost and minimize risk associated with the deviation around the expected return at the expense of a small additional risk in short tails.
Journal: Journal of Business Economics and Management
Pages: 561-584
Issue: 4
Volume: 18
Year: 2017
Month: 7
X-DOI: 10.3846/16111699.2017.1342272
File-URL: http://hdl.handle.net/10.3846/16111699.2017.1342272
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Handle: RePEc:taf:jbemgt:v:18:y:2017:i:4:p:561-584
Template-Type: ReDIF-Article 1.0
Author-Name: Viktorija Skvarciany
Author-X-Name-First: Viktorija
Author-X-Name-Last: Skvarciany
Author-Name: Daiva Jurevičienė
Author-X-Name-First: Daiva
Author-X-Name-Last: Jurevičienė
Title: Factors affecting personal customers’ trust in traditional banking: case of the Baltics
Abstract:
Nobody disputes that trust is an important issue in choosing a financial service provider, especially in the area of new forms of banking. The goal of this paper is to assess the most important determinants of trust in traditional banking. The study was conducted in the Baltics and personal customers had to rank the distinguished factors. Using correlation analysis and binary logistic regression model it was found that the most significant factor influencing trust in all countries is provided information by the bank. In addition, in Lithuania – bank’s characteristics, in Latvia – customers’ risk perception and bank’s characteristics, in Estonia – respondents’ experience of cooperation with a bank were highlighted as significant. The following measures of fit are used in order to describe the created logistic models: contingency table test, Nagelkerke pseudo-R2, Pearson chisquare test, Wald test. However, there is a limitation – the survey was conducted online. Nevertheless, as Internet penetration rate is high enough in investigated countries (from 76 percent in Latvia to 91 percent in Estonia), survey results can be adapted for at least seventy-five percent of each country’s population. The findings have implications on the development of the strategy and the policy of commercial banks.
Journal: Journal of Business Economics and Management
Pages: 636-649
Issue: 4
Volume: 18
Year: 2017
Month: 7
X-DOI: 10.3846/16111699.2017.1345784
File-URL: http://hdl.handle.net/10.3846/16111699.2017.1345784
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Handle: RePEc:taf:jbemgt:v:18:y:2017:i:4:p:636-649
Template-Type: ReDIF-Article 1.0
Author-Name: The Editors
Title: Corrigendum
Journal: Journal of Business Economics and Management
Pages: 801-801
Issue: 4
Volume: 18
Year: 2017
Month: 7
X-DOI: 10.3846/16111699.2017.1356445
File-URL: http://hdl.handle.net/10.3846/16111699.2017.1356445
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Handle: RePEc:taf:jbemgt:v:18:y:2017:i:4:p:801-801
Template-Type: ReDIF-Article 1.0
Author-Name: Ashiqur Rahman
Author-X-Name-First: Ashiqur
Author-X-Name-Last: Rahman
Author-Name: Jaroslav Belas
Author-X-Name-First: Jaroslav
Author-X-Name-Last: Belas
Author-Name: Tomas Kliestik
Author-X-Name-First: Tomas
Author-X-Name-Last: Kliestik
Author-Name: Ladislav Tyll
Author-X-Name-First: Ladislav
Author-X-Name-Last: Tyll
Title: Collateral requirements for SME loans: empirical evidence from the Visegrad countries
Abstract:
The purpose of this paper is to examine the determinants of collateral for small and medium enterprises (SMEs) in the context of Visegrad countries: Czech Republic, Slovak Republic, Hungary and Poland. The data set for this paper was obtained from the Business Environment and Enterprise Performance Survey (BEEPS), which was conducted by the World Bank and the European Bank for Reconstruction and Development (EBRD) from 2012–2014. A binary logistic regression model with different specifications was employed to examine the effect of independent variables on the incidence of collateral. The results show that risky borrowers need to pledge collateral and the reduction of asymmetric information can lower the incidence of collateral for SMEs. Moreover, we find that female borrowers are more likely to pledge collateral than male borrowers are. The results also suggest that loans with a longer maturity are more likely to be collateralized than short-term loans. We find evidence that bank-borrower proximity can alleviate the incidence of collateral whereas bank concentration may increase collateral requirements. Policy makers may consider these results to implement policies that can promote bank competition and can lower collateral requirements for female borrowers. The paper contributes to the ongoing debate on the determinants of collateral.
Journal: Journal of Business Economics and Management
Pages: 650-675
Issue: 4
Volume: 18
Year: 2017
Month: 7
X-DOI: 10.3846/16111699.2017.1357050
File-URL: http://hdl.handle.net/10.3846/16111699.2017.1357050
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Handle: RePEc:taf:jbemgt:v:18:y:2017:i:4:p:650-675
Template-Type: ReDIF-Article 1.0
Author-Name: Cláudia P. Ribau
Author-X-Name-First: Cláudia P.
Author-X-Name-Last: Ribau
Author-Name: António C. Moreira
Author-X-Name-First: António C.
Author-X-Name-Last: Moreira
Author-Name: Mário Raposo
Author-X-Name-First: Mário
Author-X-Name-Last: Raposo
Title: SMEs innovation capabilities and export performance: an entrepreneurial orientation view
Abstract:
Although there are several studies analysing how innovation capabilities influence export performance, this study aims to present the impact of a set of internal innovation capabilities on export performance of small and medium-sized firms (SMEs), with the mediating role of entrepreneurial orientation contingent upon the proactive or reactive behaviour of the firms to external stimuli. The study involves the analysis of 147 questionnaire-based survey of managers from plastic manufacturing SMEs operating in Portugal that were subjected to a Partial Least Squares-Structural Equation Modelling (PLS-SEM) technique. The results show that proactive firms to external stimuli are not only better at innovating but also their entrepreneurial orientation capabilities underpin a better performance in international markets when compared with firms that react to external stimuli. This study has implications for SMEs aiming at increasing their export performance and innovativeness. For practitioners the findings of this study should enable SMEs owner/managers to better understand the possible impacts of innovation capabilities and entrepreneurial orientation on export performance, and thus lead to more effective SMEs management.
Journal: Journal of Business Economics and Management
Pages: 920-934
Issue: 5
Volume: 18
Year: 2017
Month: 9
X-DOI: 10.3846/16111699.2017.1352534
File-URL: http://hdl.handle.net/10.3846/16111699.2017.1352534
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Handle: RePEc:taf:jbemgt:v:18:y:2017:i:5:p:920-934
Template-Type: ReDIF-Article 1.0
Author-Name: Martin Andersson
Author-X-Name-First: Martin
Author-X-Name-Last: Andersson
Author-Name: Trudy-Ann Stone
Author-X-Name-First: Trudy-Ann
Author-X-Name-Last: Stone
Title: Global sourcing and technical efficiency – a firm-level study on the ICT industry in Sweden
Abstract:
We analyse the relationship between international sourcing, measured as imports of intermediate inputs, and the technical efficiency of firms in the information and communications technologies (ICT) manufacturing industry in Sweden. Using stochastic frontier analysis, we provide evidence that global sourcing improves firms’ capabilities to combine and re-combine inputs in productive ways, thereby increasing technical efficiency. We find a robust relationship between technical efficiency and international outsourcing. First, we find that firms that are deeply integrated into global sourcing networks are closer to their own production frontier. Second, firms that are engaged in international sourcing are also closer to the industry efficiency frontier. These findings are consistent with the argument that international sourcing stimulates firms’ capabilities by enabling them to identify and adopt higher quality inputs or more efficient production and management practices. These findings also suggest that the variety and extent of firms’ global sourcing networks constitute an important source of differences in efficiency levels among firms the ICT manufacturing industry.
Journal: Journal of Business Economics and Management
Pages: 877-896
Issue: 5
Volume: 18
Year: 2017
Month: 9
X-DOI: 10.3846/16111699.2017.1356367
File-URL: http://hdl.handle.net/10.3846/16111699.2017.1356367
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Handle: RePEc:taf:jbemgt:v:18:y:2017:i:5:p:877-896
Template-Type: ReDIF-Article 1.0
Author-Name: Nikola Radivojević
Author-X-Name-First: Nikola
Author-X-Name-Last: Radivojević
Author-Name: Nikola V. Ćurčić
Author-X-Name-First: Nikola V.
Author-X-Name-Last: Ćurčić
Author-Name: Djurdjica Dj. Vukajlović
Author-X-Name-First: Djurdjica Dj.
Author-X-Name-Last: Vukajlović
Title: Hull-White’s value at risk model: case study of Baltic equities market
Abstract:
Analysis of the applicability of the Hull and White (FHS) model on the Baltic equities market has not been the subject of significant research, especially not in the context of meeting the Basel Committee backtesting rules. The paper discusses the applicability of different variants of this model, in order to answer the question whether any variants (and which of them) of the model can be used in these markets in the context of the Basel II and III standards. The survey results show that 1) there isn't an optimal variant of this model, but that risk managers have to keep in mind stylized facts of financial returns when they specify the FHS model; 2) according to different criteria of the validity of the model (Basel II and III standards) different variants of models are differently ranked, which suggests that selection of a suitable model implies the use of a large number of different criteria, the model validity and loss function, especially those who take care of the size of tail loss and ES.
Journal: Journal of Business Economics and Management
Pages: 1023-1041
Issue: 5
Volume: 18
Year: 2017
Month: 9
X-DOI: 10.3846/16111699.2017.1357049
File-URL: http://hdl.handle.net/10.3846/16111699.2017.1357049
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Handle: RePEc:taf:jbemgt:v:18:y:2017:i:5:p:1023-1041
Template-Type: ReDIF-Article 1.0
Author-Name: Rubén Elvira Herranz
Author-X-Name-First: Rubén Elvira
Author-X-Name-Last: Herranz
Author-Name: Pablo García Estévez
Author-X-Name-First: Pablo García
Author-X-Name-Last: Estévez
Author-Name: María Auxiliadora de Vicente y Oliva
Author-X-Name-First: María Auxiliadora de Vicente y
Author-X-Name-Last: Oliva
Author-Name: Rahul Dé
Author-X-Name-First: Rahul
Author-X-Name-Last: Dé
Title: Leveraging financial management performance of the Spanish aerospace manufacturing value chain
Abstract:
We study financial management performance during 2008–2013 for the Spanish aerospace manufacturing value chain and the links with managerial decisions. Data from company financial statements is analysed with Principal Component Analysis, Data Envelopment Analysis and an Artificial Neural Network. Top financial performers focus on liquidity management rather than on returns: both in the short term, by increasing levels of current assets and funding them with short-term liabilities, as well as increasing asset turnover; and in the long term, by aligning equity to non-current assets, while reducing asset and debt intensity levels. Only the manufacturing value chain is analysed, showing the potential for future research in related fields (e.g. value chain, country). Benchmarking and forecasting financial performance yields information and enables agility and accuracy in the strategy setting process. This study makes a unique contribution because it applies the scientific method where no previous related studies have done. It offers the novelty of using a single metric while Ratio Analysis requires multiple unweighted measures. We contribute by: (a) providing a method based on publicly information to benchmark and predict financial performance, thus offering benefits for aerospace stakeholders and academia; and (b) employing a big data sample that closely represents the population.
Journal: Journal of Business Economics and Management
Pages: 1005-1022
Issue: 5
Volume: 18
Year: 2017
Month: 9
X-DOI: 10.3846/16111699.2017.1357655
File-URL: http://hdl.handle.net/10.3846/16111699.2017.1357655
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Handle: RePEc:taf:jbemgt:v:18:y:2017:i:5:p:1005-1022
Template-Type: ReDIF-Article 1.0
Author-Name: Chih-Ching Yang
Author-X-Name-First: Chih-Ching
Author-X-Name-Last: Yang
Title: Reduction of non-performing loans in the banking industry: an application of data envelopment analysis
Abstract:
The increase in non-performing loans around the world has had quite a negative impact on many nations’ banking systems. To address these problems, many creative regulatory solutions and well-designed risk techniques have been utilized in the hope of reducing non-performing loans to an acceptable level. The purpose of this study is to apply a newly developed data envelopment analysis model to suggest the most efficient plan (called Plan 4) to reduce non-performing loans that can maximize the efficiency of the entire banking industry’s control over the bad debts. For comparison purpose, three other reduction plans are also represented. The four plans are presented using data from Taiwan’s banking industry. The empirical results show that among the plans presented, Plan 4 shows the most effective allocation of the industry-wide reduction target. The plan focuses on a finite number of banks, helping identify the key units to improve industry-wide efficiency. The findings implicitly suggest that the regulator should devise more incentive measures to encourage target banks to perform the non-performing loan reduction task. Our results also suggest that for the regulator, forcing banks to cut their non-performing loans by the same ratio will not help improve the relative efficiency of the industry.
Journal: Journal of Business Economics and Management
Pages: 833-851
Issue: 5
Volume: 18
Year: 2017
Month: 9
X-DOI: 10.3846/16111699.2017.1358209
File-URL: http://hdl.handle.net/10.3846/16111699.2017.1358209
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Handle: RePEc:taf:jbemgt:v:18:y:2017:i:5:p:833-851
Template-Type: ReDIF-Article 1.0
Author-Name: Michal Munk
Author-X-Name-First: Michal
Author-X-Name-Last: Munk
Author-Name: Anna Pilkova
Author-X-Name-First: Anna
Author-X-Name-Last: Pilkova
Author-Name: Lubomir Benko
Author-X-Name-First: Lubomir
Author-X-Name-Last: Benko
Author-Name: Petra Blažeková
Author-X-Name-First: Petra
Author-X-Name-Last: Blažeková
Title: Pillar 3: market discipline of the key stakeholders in CEE commercial bank and turbulent times
Abstract:
The study presented in the paper contributes to covering the gap in the area of sufficient information disclosure that also increases the interests of relevant stakeholders in contributing to depository market discipline and in being relevant to their interest within Pillar 3 framework. This paper is focused on an analysis of website data dedicated to Pillar 3 disclosures of commercial banks and on studying the behaviour of stakeholders in relation to the timing of serious market turbulence. The examined data consists of log files that were pre-processed using web mining techniques and from which were extracted frequent itemsets by quarters and evaluated in terms of quantity. The authors have proposed a methodology to evaluate frequent itemsets of web parts over a dedicated time period. The results show that stakeholders’ interest in disclosures is lower after turbulent times in 2009, higher in the first quarter, also higher together with annual reports (lower for Pillar 3 solo information). The paper's results suggest that further changes in commercial banks´ information disclosure are inevitable in order to achieve an effective market discipline mechanism and meaningful disclosures according to the regulator´s expectations.
Journal: Journal of Business Economics and Management
Pages: 954-973
Issue: 5
Volume: 18
Year: 2017
Month: 9
X-DOI: 10.3846/16111699.2017.1360388
File-URL: http://hdl.handle.net/10.3846/16111699.2017.1360388
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Handle: RePEc:taf:jbemgt:v:18:y:2017:i:5:p:954-973
Template-Type: ReDIF-Article 1.0
Author-Name: Serkan Aras
Author-X-Name-First: Serkan
Author-X-Name-Last: Aras
Author-Name: İpek Deveci Kocakoç
Author-X-Name-First: İpek
Author-X-Name-Last: Deveci Kocakoç
Author-Name: Cigdem Polat
Author-X-Name-First: Cigdem
Author-X-Name-Last: Polat
Title: Comparative study on retail sales forecasting between single and combination methods
Abstract:
In today's competitive global economy, businesses must adjust themselves constantly to ever-changing markets. Therefore, predicting future events in the market-place is crucial to the maintenance of successful business activities. In this study, sales forecasts for a global furniture retailer operating in Turkey were made using state space models, ARIMA and ARFIMA models, neural networks, and Adaptive Network-based Fuzzy Inference System (ANFIS). Also, the forecasting performances of some widely used combining methods were evaluated by comparison with the weekly sales data for ten products. According to the best of our knowledge, this study is the first time that the recently developed state space models, also called ETS (Error-Trend-Seasonal) models, and the ANFIS model have been tested within combining methods for forecasting retail sales. Analysis of the results of the single models in isolation indicated that none of them outperformed all the others across all the time series investigated. However, the empirical results suggested that most of the combined forecasts examined could achieve statistically significant increases in forecasting accuracy compared with individual models and with the forecasts generated by the company's current system.
Journal: Journal of Business Economics and Management
Pages: 803-832
Issue: 5
Volume: 18
Year: 2017
Month: 9
X-DOI: 10.3846/16111699.2017.1367324
File-URL: http://hdl.handle.net/10.3846/16111699.2017.1367324
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Handle: RePEc:taf:jbemgt:v:18:y:2017:i:5:p:803-832
Template-Type: ReDIF-Article 1.0
Author-Name: Rizwan Raheem Ahmed
Author-X-Name-First: Rizwan Raheem
Author-X-Name-Last: Ahmed
Author-Name: Jolita Vveinhardt
Author-X-Name-First: Jolita
Author-X-Name-Last: Vveinhardt
Author-Name: Dalia Štreimikienė
Author-X-Name-First: Dalia
Author-X-Name-Last: Štreimikienė
Author-Name: Muhammad Ashraf
Author-X-Name-First: Muhammad
Author-X-Name-Last: Ashraf
Author-Name: Zahid Ali Channar
Author-X-Name-First: Zahid Ali
Author-X-Name-Last: Channar
Title: Modified SERVQUAL model and effects of customer attitude and technology on customer satisfaction in banking industry: mediation, moderation and conditional process analysis
Abstract:
Banks are very important financial services sector, and in banking sector there is an intense competition amongst the local and foreign banks throughout the world. The objective of this research is to analyse the effects of perceived value and customer trust, and role of technology in banking service qualities and customers’ satisfaction in Pakistani context. For this purpose we employed modified SERVQUAL model with four dimensions such as empathy, competence, reliability, and online service. An adapted questionnaire was used to carry out this survey research, and collected 830 responses from the customers of Pakistani banking industry. We used factor analysis, confirmatory factor analysis, and bootstrapping methods to carry out this research. The results of the study demonstrated that our four-dimensional model of modified SERVQUAL has a significant impact on overall customer satisfaction. It is further concluded from the bootstrapping method that modified SERVQUAL dimensions and customer satisfaction are positively mediated by the perceived value and trust. Finally, it is also concluded that the implementation of technology serves as moderating variable in the banking sector. The outcomes of this research are beneficial to the senior management of banking sector in order to implement the effective and customised online banking structure to gain competitive advantages, and provide vibrant online banking services that enhance the standard and ease of services to the customers and earn their confidence. The originality and novelty of this research provide a significant contribution in the application of SERVQUAL model specifically for the banking service quality dimensions and customer satisfaction in marketing research.
Journal: Journal of Business Economics and Management
Pages: 974-1004
Issue: 5
Volume: 18
Year: 2017
Month: 9
X-DOI: 10.3846/16111699.2017.1368034
File-URL: http://hdl.handle.net/10.3846/16111699.2017.1368034
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Handle: RePEc:taf:jbemgt:v:18:y:2017:i:5:p:974-1004
Template-Type: ReDIF-Article 1.0
Author-Name: Beata Gavurova
Author-X-Name-First: Beata
Author-X-Name-Last: Gavurova
Author-Name: Jaroslav Belas
Author-X-Name-First: Jaroslav
Author-X-Name-Last: Belas
Author-Name: Kristina Kocisova
Author-X-Name-First: Kristina
Author-X-Name-Last: Kocisova
Author-Name: Tomas Kliestik
Author-X-Name-First: Tomas
Author-X-Name-Last: Kliestik
Title: Comparison of selected methods for performance evaluation of Czech and Slovak commercial banks
Abstract:
The successful development of economy is based on the efficient and stable performance of commercial banks. A broad range of methods is used to evaluate them. Each method has its own specific features and logic, which results in the existence of discrepancies in the results of their evaluation. For this reason, as well as due to the elimination of model risk, numerous methods are recommended in practice to detect multidimensional disproportions in bank performance and to create a comparator base. This led to the realization of the research aimed at assessing the performance of selected Czech and Slovak banks by applying several methods and evaluating the process and outcome differences of these methods. The data were obtained from the non-consolidated financial statements published in the annual reports of the evaluated banks. The analysis showed that all methods have roughly the same results. Almost perfect correlation had been found not only among the methods of multi-criteria evaluation, but also among the other investigators.
Journal: Journal of Business Economics and Management
Pages: 852-876
Issue: 5
Volume: 18
Year: 2017
Month: 9
X-DOI: 10.3846/16111699.2017.1371637
File-URL: http://hdl.handle.net/10.3846/16111699.2017.1371637
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Handle: RePEc:taf:jbemgt:v:18:y:2017:i:5:p:852-876
Template-Type: ReDIF-Article 1.0
Author-Name: Yaiza Armas-Cruz
Author-X-Name-First: Yaiza
Author-X-Name-Last: Armas-Cruz
Author-Name: Esperanza Gil-Soto
Author-X-Name-First: Esperanza
Author-X-Name-Last: Gil-Soto
Author-Name: Juan Ramón Oreja-Rodríguez
Author-X-Name-First: Juan Ramón
Author-X-Name-Last: Oreja-Rodríguez
Title: Environmental management in SMEs: organizational and sectoral determinants in the context of an Outermost European Region
Abstract:
This paper evaluates the environmental behavior of SMEs in the Canary Islands (Spain), one of the Outermost European Regions. The islands’ fragile socioeconomic systems and scarce resources noticeably condition the competitiveness of their firms. An empirical analysis ranks environmental protection practices in SMEs and identifies differences on the basis of size and business sector. In addition, groups of firms with different environmental behavior are identified to facilitate the design of environmental policies, improve effectiveness in decision making and the more efficient use of resources. From a theoretical perspective, this paper contributes to the gap identified by the precursors of the Natural Resource-Based View of the firm by analyzing specific resource combinations that each firm can use to improve its environmental performance and achieve competitive advantages. The firms best positioned to develop the dynamic capabilities needed are identified not only considering the physical environment, but also the socio-economic one and key intangible resources are measured that shape firms’ environmental strategy.
Journal: Journal of Business Economics and Management
Pages: 935-953
Issue: 5
Volume: 18
Year: 2017
Month: 9
X-DOI: 10.3846/16111699.2017.1373375
File-URL: http://hdl.handle.net/10.3846/16111699.2017.1373375
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Handle: RePEc:taf:jbemgt:v:18:y:2017:i:5:p:935-953
Template-Type: ReDIF-Article 1.0
Author-Name: Fatemeh Ghasemzadeh
Author-X-Name-First: Fatemeh
Author-X-Name-Last: Ghasemzadeh
Author-Name: Mahsa Pishdar
Author-X-Name-First: Mahsa
Author-X-Name-Last: Pishdar
Author-Name: Jurgita Antuchevičienė
Author-X-Name-First: Jurgita
Author-X-Name-Last: Antuchevičienė
Title: Prioritization of petroleum supply chains’ disruption management strategies using combined framework of BSC approach, fuzzy AHP and fuzzy Choquet integral operator
Abstract:
Industries in every sector have observed tangible losses from a broad range of disruptions during recent years. Factors such as globalization and outsourcing have made supply chains more sophisticated and this makes disruption management more necessary. Any disruption in each part of supply chain makes the whole supply chain face derangement and at last, ultimate customers realize the shaped disadvantages. Since avoidance of disruption occurrence is not always possible, application of different strategies with the aid of minimization of negative effects seems necessary. That is why in this paper, different strategies for disruption management in petroleum products supply chain and suitable criteria for prioritizing them are recognized via Balanced Score Card approach measures. After that, by application of fuzzy Analytical Hierarchy Process and intuitionistic fuzzy Choquet integral operator, their priorities are specified in order to make a guideline for managers to set proper plans and manage such disruptions more accurately.
Journal: Journal of Business Economics and Management
Pages: 897-919
Issue: 5
Volume: 18
Year: 2017
Month: 9
X-DOI: 10.3846/16111699.2017.1380075
File-URL: http://hdl.handle.net/10.3846/16111699.2017.1380075
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Handle: RePEc:taf:jbemgt:v:18:y:2017:i:5:p:897-919
Template-Type: ReDIF-Article 1.0
Author-Name: Jana Hroncová Vicianová
Author-X-Name-First: Jana
Author-X-Name-Last: Hroncová Vicianová
Author-Name: Jana Jaďuďová
Author-X-Name-First: Jana
Author-X-Name-Last: Jaďuďová
Author-Name: Martin Hronec
Author-X-Name-First: Martin
Author-X-Name-Last: Hronec
Author-Name: Silvia Rolíková
Author-X-Name-First: Silvia
Author-X-Name-Last: Rolíková
Title: Developing eco-innovation in business practice in Slovakia
Abstract:
The paper presents the analyses and evaluates the current state of implementation of eco-innovation in the most energy-intensive sectors in Slovakia and also compares the eco-innovation performance of EU countries. Furthermore, it identifies the economic and environmental benefits from which businesses can profit following the introduction of this type of eco-innovation; it confirms the relationship between investments in environmental technologies and increasing sales of ecological products and services and identifies opportunities for development of eco-innovations in Slovakia. The industrial sectors in Slovakia have the potential to utilise eco-innovation throughout the structure of their economic activities, to develop new technologies and knowledge as well as in creating and developing partnerships, networks and mutual cooperation for the development of eco-innovation on the proviso that appropriate supporting eco-innovation policies and stimulus measures are in place. An analysis of the current state of eco-innovations in the selected enterprises was carried out on the basis of original empirical research which is based on a questionnaire survey on enterprises in the Slovak Republic.
Journal: Journal of Business Economics and Management
Pages: 1042-1061
Issue: 5
Volume: 18
Year: 2017
Month: 9
X-DOI: 10.3846/16111699.2017.1381146
File-URL: http://hdl.handle.net/10.3846/16111699.2017.1381146
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Handle: RePEc:taf:jbemgt:v:18:y:2017:i:5:p:1042-1061
Template-Type: ReDIF-Article 1.0
Author-Name: The Editors
Title: Editorial board
Journal:
Pages: ebi-ebi
Issue: 1
Volume: 8
Year: 2007
X-DOI: 10.1080/16111699.2007.9636146
File-URL: http://hdl.handle.net/10.1080/16111699.2007.9636146
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Handle: RePEc:taf:jbemgt:v:8:y:2007:i:1:p:ebi-ebi
Template-Type: ReDIF-Article 1.0
Author-Name: Romualdas Ginevičius
Author-X-Name-First: Romualdas
Author-X-Name-Last: Ginevičius
Author-Name: Stasys Čirba
Author-X-Name-First: Stasys
Author-X-Name-Last: Čirba
Title: Determining market concentration
Abstract: One of the major problems associated with market concentration is its quantitative evaluation. In fact, a concept of the concentration curve is used in almost every case. The suggested measures may be classified as discrete or accumulative values. All of them are of limited accuracy because the first ones take into account only a part of the concentration curve, while the second values cannot adequately describe the situation in the market. The accuracy of the above measures can be determined based on the total difference in the relationship between the carriers of particular attributes in the market and the value calculated for them by the market concentration formula based on the suggested measure. The above measure yields the best result in determining the total difference.
Journal: Journal of Business Economics and Management
Pages: 3-10
Issue: 1
Volume: 8
Year: 2007
X-DOI: 10.1080/16111699.2007.9636147
File-URL: http://hdl.handle.net/10.1080/16111699.2007.9636147
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Handle: RePEc:taf:jbemgt:v:8:y:2007:i:1:p:3-10
Template-Type: ReDIF-Article 1.0
Author-Name: Ona Rakauskiene
Author-X-Name-First: Ona
Author-X-Name-Last: Rakauskiene
Author-Name: Eugenijus Chlivickas
Author-X-Name-First: Eugenijus
Author-X-Name-Last: Chlivickas
Title: Public finance of Lithuania: Gender perspective
Abstract: The paper presents the analysis of Lithuania's economic growth, tax policy, state budget and municipality budgets, using of the EU structural funds support from a gender perspective. Gender asymmetry is examined not only at the microeconomic level, but also at the level of macroeconomics, therefore solutions of gender problems have to be relevant and adopted in view of macroeconomic criteria.
Journal: Journal of Business Economics and Management
Pages: 11-27
Issue: 1
Volume: 8
Year: 2007
X-DOI: 10.1080/16111699.2007.9636148
File-URL: http://hdl.handle.net/10.1080/16111699.2007.9636148
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Handle: RePEc:taf:jbemgt:v:8:y:2007:i:1:p:11-27
Template-Type: ReDIF-Article 1.0
Author-Name: Kavita Singh
Author-X-Name-First: Kavita
Author-X-Name-Last: Singh
Title: Predicting organizational commitment through organization culture: A study of automobile industry in India
Abstract: The extent to which the employees of an organization feel committed to their organization can be easily gathered from the strength of its culture. This points out that even though the culture is holistic, it can be strengthened by commitment. Culture can be managed by managing the employees of the organization and also by leader's actions and interventions and these are also understood as the targets of management of commitment. Management of commitment is also the management of culture, as it is commitment that binds people to organization's ideas and agents. With these notions in mind, the present study makes an attempt, firstly, to integrate different conceptual constructs of commitment and culture and secondly, to identify the relationship between organizational commitment and organization culture. The study is based on a sample of 382 executives from five automobile companies. The findings indicate that most of the dimensions of organizational culture are positively and significantly related to the dimensions of organizational commitment. Some of the dimensions of culture also made significant contribution to predict organizational commitment. The main issue that emerges from this study is that the importance of organizational culture in understanding organizational commitment can neither be underestimated nor overlooked.
Journal: Journal of Business Economics and Management
Pages: 29-37
Issue: 1
Volume: 8
Year: 2007
X-DOI: 10.1080/16111699.2007.9636149
File-URL: http://hdl.handle.net/10.1080/16111699.2007.9636149
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Handle: RePEc:taf:jbemgt:v:8:y:2007:i:1:p:29-37
Template-Type: ReDIF-Article 1.0
Author-Name: Ruth Alas
Author-X-Name-First: Ruth
Author-X-Name-Last: Alas
Author-Name: Krista Tuulik
Author-X-Name-First: Krista
Author-X-Name-Last: Tuulik
Title: Cultural practices and values at the societal level in Estonia in comparison with neighbouring countries
Abstract: The research question in this paper involves comparing the differences between the actual regional societal culture (cultural practices) and the desired regional societal culture (cultural values) in Estonia with cultural practices in neighbouring countries Russia and Finland. Practices at the organization level are compared with practices and values at the societal level in Estonia. An analysis of results from the GLOBE research project have indicated that Russia and Finland have both had an impact on Estonian culture and practices. Similarities with Finland stem from the shared genetic background and appear in Estonian values. The Soviet heritage can be seen in Estonian societal and organizational practices, which are closer to Russian than Finnish indicators. Change in practices takes time and starts from within and among organizations, but over time this may also spread to the society.
Journal: Journal of Business Economics and Management
Pages: 39-44
Issue: 1
Volume: 8
Year: 2007
X-DOI: 10.1080/16111699.2007.9636150
File-URL: http://hdl.handle.net/10.1080/16111699.2007.9636150
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Handle: RePEc:taf:jbemgt:v:8:y:2007:i:1:p:39-44
Template-Type: ReDIF-Article 1.0
Author-Name: Gerhard Mudrack
Author-X-Name-First: Gerhard
Author-X-Name-Last: Mudrack
Title: The current tax situation of occupational pensions and pan‐European pension funds
Abstract: The main tax obstacle to the functioning of pan‐European pension funds is the exclusion from tax relief of cross‐border contributions. Many Member States have eliminated this obstacle or have announced that they will do this soon. The few Member States which may wish to continue the discrimination against foreign funds may find it very difficult to explain to the ECJ why they cannot do what so many other Member States already have. The conclusion of this article is, therefore, that for most situations, the main tax obstacle for pan‐European pension funds will be eliminated after the implementation date of the Pension Fund Directive, that was by 23 September 2005. The Pension Fund Directive includes the assumptions for a cross‐border activity of company pension funds. Among the existing national regulations of the setting of the systems of old age pensions the member states have to allow domestic companies in line with the Pension Fund Directive to be institution of foreign pension funds, which are licensed in other member states.
Journal: Journal of Business Economics and Management
Pages: 45-49
Issue: 1
Volume: 8
Year: 2007
X-DOI: 10.1080/16111699.2007.9636151
File-URL: http://hdl.handle.net/10.1080/16111699.2007.9636151
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Handle: RePEc:taf:jbemgt:v:8:y:2007:i:1:p:45-49
Template-Type: ReDIF-Article 1.0
Author-Name: Borisas Melnikas
Author-X-Name-First: Borisas
Author-X-Name-Last: Melnikas
Author-Name: Rasa Smaliukiene
Author-X-Name-First: Rasa
Author-X-Name-Last: Smaliukiene
Title: Consumer vulnerability in pharmaceutical market: Case of Baltic countries
Abstract: Consumer vulnerability receives attention in search for effective solutions of complex problems in the social welfare system on the international as well as local or regional scale. Pharmaceutical consumer vulnerability takes various forms and therefore it may be analyzed in social, economic, legal, ecological or purely medical terms. The article presents an integrated methodology that was applied to develop an indicator of pharmaceutical consumption and pharmaceutical consumer vulnerability; it also presents findings of the research, which employed this methodology to estimate vulnerability of different consumer groups as well as general consumer vulnerability in Lithuania, Latvia and Estonia.
Journal: Journal of Business Economics and Management
Pages: 51-62
Issue: 1
Volume: 8
Year: 2007
X-DOI: 10.1080/16111699.2007.9636152
File-URL: http://hdl.handle.net/10.1080/16111699.2007.9636152
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Handle: RePEc:taf:jbemgt:v:8:y:2007:i:1:p:51-62
Template-Type: ReDIF-Article 1.0
Author-Name: Antanas Makštutis
Author-X-Name-First: Antanas
Author-X-Name-Last: Makštutis
Title: The problems of development of national state
Abstract: The paper analyzes the global economic factors of the development of the national state in the European Union (EU). The place of the national state is shown under globalization in the common EU space where under the conditions of a free market complicated tasks are being formed: development of progress, promotion of democracy in the territory of the state, and activation of the public activity. Problems of the national state and public development as well as ways of their solution are described. Analysis is given of the opportunities for modernization of the organization in the national market and the common EU space, factors related to optimization of human labour are determined and presented, and methods are foreseen for solving the future political, economic and social problems in the EU under the conditions of globalization.
Journal: Journal of Business Economics and Management
Pages: 63-68
Issue: 1
Volume: 8
Year: 2007
X-DOI: 10.1080/16111699.2007.9636153
File-URL: http://hdl.handle.net/10.1080/16111699.2007.9636153
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Handle: RePEc:taf:jbemgt:v:8:y:2007:i:1:p:63-68
Template-Type: ReDIF-Article 1.0
Author-Name: Rima Tamošiūniene
Author-X-Name-First: Rima
Author-X-Name-Last: Tamošiūniene
Author-Name: Regina Jasilioniene
Author-X-Name-First: Regina
Author-X-Name-Last: Jasilioniene
Title: Customer relationship management as business strategy appliance: Theoretical and practical dimensions
Abstract: The main purpose of this article is to provide an integral and managerially useful view of customer relationship management (CRM) as business strategy. The key objectives are: to analyze CRM origins, development and changes that have occurred over time and to provide its future directions, to rank the variety of CRM definitions and determine CRM definition, which reflects CRM essence most accurately, to analyze components of CRM, to provide a framework, which ensures that CRM is approached on a strategic, balanced and integrated basis, to determine CRM strategy definition, and to identify CRM strategy position in the whole of companies strategies. The article provides best practices of CRM strategy appliance. The methods used: analysis and generalization of scientific and practical works and statistical data.
Journal: Journal of Business Economics and Management
Pages: 69-78
Issue: 1
Volume: 8
Year: 2007
X-DOI: 10.1080/16111699.2007.9636154
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Handle: RePEc:taf:jbemgt:v:8:y:2007:i:1:p:69-78
Template-Type: ReDIF-Article 1.0
Author-Name: The Editors
Title: Editorial board
Journal:
Pages: ebi-ebi
Issue: 4
Volume: 7
Year: 2006
X-DOI: 10.1080/16111699.2006.9636137
File-URL: http://hdl.handle.net/10.1080/16111699.2006.9636137
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Handle: RePEc:taf:jbemgt:v:7:y:2006:i:4:p:ebi-ebi
Template-Type: ReDIF-Article 1.0
Author-Name: Herbert Grüner
Author-X-Name-First: Herbert
Author-X-Name-Last: Grüner
Author-Name: Lars Neuberger
Author-X-Name-First: Lars
Author-X-Name-Last: Neuberger
Title: Entrepreneurs' education: Critical areas for the pedagogic‐didactic agenda and beyond
Abstract: In the following article we aim to give the reader an insight into the problems we have encountered since we began developing a curriculum for entrepreneur education at university level. We have been able to find solutions to some of the problems faced. More interesting though seem to be the quandaries which crop up almost automatically when pedagogues attempt to formulate a programme of “Entrepreneur Education”. They give us occasion to critically reflect on some accepted standpoints, and should also open up interesting perspectives for the reader for his or her own consideration. As such we intend to spend more time on the quandaries whilst providing rather brief sketches of our solutions. We hope to be able to offer a small contribution to the field in order to fuel critical debate in the discipline of Entrepreneurship Research and Education; debate whose aim is to effect critically constructive reflection on practice and existing knowledge, and forge innovative new paths towards the object of research.
Journal: Journal of Business Economics and Management
Pages: 163-170
Issue: 4
Volume: 7
Year: 2006
X-DOI: 10.1080/16111699.2006.9636138
File-URL: http://hdl.handle.net/10.1080/16111699.2006.9636138
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Handle: RePEc:taf:jbemgt:v:7:y:2006:i:4:p:163-170
Template-Type: ReDIF-Article 1.0
Author-Name: Jonas Mackevičius
Author-X-Name-First: Jonas
Author-X-Name-Last: Mackevičius
Author-Name: Kastytis Senkus
Author-X-Name-First: Kastytis
Author-X-Name-Last: Senkus
Title: The system of formation and evaluation of the information of cash flows
Abstract: A very urgent problem of formation of cash flows in conditions of the competitive market is considered in the present article. Cash flows are defined as the inflows and outflows of cash and cash equivalents, created within a certain period of time out of the operating, financial, investment and extraordinary activities of the company. Examples of cash flows out of the operating, financial and investment activities of the company are adduced. The system of formation and evaluation of the information about cash flows is created. Its principal elements are as follows: cash flow accounting, classification of cash flows, issuing of the cash flow statement, control and analysis of cash flows, cash flow forecasting. The methods of analysis of cash flows are created, i.e. the horizontal analysis of the cash flow statement; the vertical analysis of the cash flow statement; the analysis of financial ratios of the cash flow statement; preparation of the cash flow forecast. Practical application of the system of formation and evaluation of the information about cash flows would help the company managers to take various management decisions on evaluation of the company's financial condition and its activity results better, quicker and more precisely.
Journal: Journal of Business Economics and Management
Pages: 171-182
Issue: 4
Volume: 7
Year: 2006
X-DOI: 10.1080/16111699.2006.9636139
File-URL: http://hdl.handle.net/10.1080/16111699.2006.9636139
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Handle: RePEc:taf:jbemgt:v:7:y:2006:i:4:p:171-182
Template-Type: ReDIF-Article 1.0
Author-Name: Levent Kosekahyaoglu
Author-X-Name-First: Levent
Author-X-Name-Last: Kosekahyaoglu
Title: A comparative analysis of FDI in Turkey and the CEECs: Is there any link between FDI and trade?
Abstract: This paper examines the structure of foreign direct investment (FDI) flows into Turkey and the Central and Eastern European Countries (CEECs) as well as the other new members of the European Union (EU). Our study has two main parts. Firstly, we investigate the key economic and political factors that have an impact on foreign investment, for example, the macroeconomic performance, the production cost and the size of domestic market. Secondly, we explore the relationship between FDI and trade flows for Turkey, the Czech Republic, Hungary and Poland using the Granger causality methodology.
Journal: Journal of Business Economics and Management
Pages: 183-200
Issue: 4
Volume: 7
Year: 2006
X-DOI: 10.1080/16111699.2006.9636140
File-URL: http://hdl.handle.net/10.1080/16111699.2006.9636140
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Handle: RePEc:taf:jbemgt:v:7:y:2006:i:4:p:183-200
Template-Type: ReDIF-Article 1.0
Author-Name: Romualdas Ginevičius
Author-X-Name-First: Romualdas
Author-X-Name-Last: Ginevičius
Author-Name: Vida Vaitkūnaite
Author-X-Name-First: Vida
Author-X-Name-Last: Vaitkūnaite
Title: Analysis of organizational culture dimensions impacting performance
Abstract: The paper reveals multidimensional nature of organizational culture. When investigating its influence on success only performance influencing dimensions must be under consideration. The authors suggest the ways for reducing their number: content analysis and hierarchical structuring method. The system (list) of dimensions was formed by using the mentioned methods. Questionnaire was made. Relationship between dimensions and their influence on performance was tested.
Journal: Journal of Business Economics and Management
Pages: 201-211
Issue: 4
Volume: 7
Year: 2006
X-DOI: 10.1080/16111699.2006.9636141
File-URL: http://hdl.handle.net/10.1080/16111699.2006.9636141
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Handle: RePEc:taf:jbemgt:v:7:y:2006:i:4:p:201-211
Template-Type: ReDIF-Article 1.0
Author-Name: Manuela Tvaronavičiene
Author-X-Name-First: Manuela
Author-X-Name-Last: Tvaronavičiene
Author-Name: Julija Michailova
Author-X-Name-First: Julija
Author-X-Name-Last: Michailova
Title: Factors affecting securities prices: Theoretical versus practical approach
Abstract: Securities market has been influenced by entirety of factors, which roughly could be divided into various groups. In order to show complexity of phenomenon authors strive to overview theories of stock price behaviour. Taking into account, that various authors present rather controversial empirical evidences of certain factors impact on stock’ prices, authors of this paper try to test some relationships practically. Statistical analysis aiming to evaluate quantitatively the dependence of stock index on some chosen statistically measurable factors is being performed. For the latter purpose stock prices of Lithuanian companies and such macroeconomic variables as foreign direct investment, state budget revenue and expenditure, gross domestic product, price index of consumer goods and services, money in a broad sense, average profitability of governmental bonds and inflation have been employed.
Journal: Journal of Business Economics and Management
Pages: 213-222
Issue: 4
Volume: 7
Year: 2006
X-DOI: 10.1080/16111699.2006.9636142
File-URL: http://hdl.handle.net/10.1080/16111699.2006.9636142
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Handle: RePEc:taf:jbemgt:v:7:y:2006:i:4:p:213-222
Template-Type: ReDIF-Article 1.0
Author-Name: Algis Šileika
Author-X-Name-First: Algis
Author-X-Name-Last: Šileika
Author-Name: Daiva Andriušaitiene
Author-X-Name-First: Daiva
Author-X-Name-Last: Andriušaitiene
Title: Problems of identifying and regulating the structure of the labour market in depressive Lithuanian regions
Abstract: In order to identify labour market problems in the depressive regions of Lithuania and to provide guiding lines in the search for their solution, it is necessary to conduct a systematic analysis of the structure of employable population encompassing the characteristics of segments of employed and unemployed persons as well as individuals not registered with the official labour market. Correlation and factor analysis of eighteen macroeconomic indicators investigating into indicators of all municipalities of the country and depressive regions separately (20 municipalities where the unemployment rate exceeded the average in the country by 1,5 times in 2004) enabled evaluation of the significance of employment and unemployment indicators as well as impact thereof on other indicators chosen for the analysis to feature the trends of social and economic development on national level and in depressive regions in 1996–2004. Apart from special sociological research, characterization of the structure and peculiarities of labour force is confined to assumptions of logical analysis, but the invented technologies give grounds to maintain that dynamics of the employment indicator reflects the trends and outcomes of the development of economic activities only to a certain limited extent. Relation of the unemployment indicator, particularly that of long‐term unemployment, with other macroeconomic indicators is much tighter. However, as we can see from the analysis, relevantly big share of employable individuals not participating in the labour market has been little analysed by the structure, though most probably this share consists of the following basic groups: unemployed “volunteers”, “labour migrants”, unofficially employed individuals and persons employed in in‐kind farms. Yet, the analysis of statistical data shows that this is not an idiosyncrasy of depressive regions of the country. In the analysis of the structure of the labour market, the following problems extremely important in the depressive regions of Lithuania may be singled out: long‐term unemployment trap determines emigration of youth and better skilled labour force; consequently this results in prevalence of senior and pension‐age population, unskilled labour force and out‐of‐skill individuals in the structure of employable population, and in unofficial, ineffective “survival” employment in small, quasi‐in‐kind farms that have become a traditional way of life of rural population.
Journal: Journal of Business Economics and Management
Pages: 223-233
Issue: 4
Volume: 7
Year: 2006
X-DOI: 10.1080/16111699.2006.9636143
File-URL: http://hdl.handle.net/10.1080/16111699.2006.9636143
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Handle: RePEc:taf:jbemgt:v:7:y:2006:i:4:p:223-233
Template-Type: ReDIF-Article 1.0
Author-Name: Aušra Aleknavičiene
Author-X-Name-First: Aušra
Author-X-Name-Last: Aleknavičiene
Author-Name: Manuela Tvaronavičiene
Author-X-Name-First: Manuela
Author-X-Name-Last: Tvaronavičiene
Title: Some aspects of the Lithuanian banking sector transformation
Abstract: The paper deals with changes in Lithuanian banking sector, which occurred during the 1996–2005 period. Authors highlight main driving force – foreign direct investments (FDI) into sector. Structure‐conduct‐performance (SCP) approach for sector transformation analysis has been adapted and applied. Change of a set of indicators incorporated into presented variation SCP is being commented. On that basis authors evaluate transformations of banking sector in terms of number and capital origin of market players, sector expansion, concentration and financial performance efficiency. Assumption about more efficient functioning of foreign banks in less developed countries is being discussed; considerations concerning foreign capital impact, taking into account positive and negative plausible facets presented.
Journal: Journal of Business Economics and Management
Pages: 235-241
Issue: 4
Volume: 7
Year: 2006
X-DOI: 10.1080/16111699.2006.9636144
File-URL: http://hdl.handle.net/10.1080/16111699.2006.9636144
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Handle: RePEc:taf:jbemgt:v:7:y:2006:i:4:p:235-241
Template-Type: ReDIF-Article 1.0
Author-Name: Gregor Költzsch
Author-X-Name-First: Gregor
Author-X-Name-Last: Költzsch
Title: Innovative methods to enhance transaction security of banking applications
Abstract: The increasing number of identity theft incidents such as credit card fraud, card duplication and internet attacks threaten the banking business that is mainly based on customer trust. Information and communication technologies create new business opportunities and innovative applications but do also enable new attack scenarios. Therefore, maintaining security and integrity is essential for the future economic success of banking. Biometric technologies such as fingerprint and facial recognition provide the means to enhance banking security. They are concerned with the measurement and evaluation of human physiological or behavioral data. Although the security‐oriented use of biometric technologies has become the most important field of development, they also enable a variety of convenience‐oriented use cases and applications. The article describes the security issues raised by technology‐based banking applications and outlines the idea of biometric technologies. Eventually, potential security and convenience‐driven use cases for biometrics in banking are illustrated based on examples given by a variety of professional project reports, magazines and other sources.
Journal: Journal of Business Economics and Management
Pages: 243-249
Issue: 4
Volume: 7
Year: 2006
X-DOI: 10.1080/16111699.2006.9636145
File-URL: http://hdl.handle.net/10.1080/16111699.2006.9636145
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Handle: RePEc:taf:jbemgt:v:7:y:2006:i:4:p:243-249
Template-Type: ReDIF-Article 1.0
Author-Name: Artūras Petraška
Author-X-Name-First: Artūras
Author-X-Name-Last: Petraška
Author-Name: Kristina Čižiūnienė
Author-X-Name-First: Kristina
Author-X-Name-Last: Čižiūnienė
Author-Name: Aldona Jarašūnienė
Author-X-Name-First: Aldona
Author-X-Name-Last: Jarašūnienė
Author-Name: Pavlo Maruschak
Author-X-Name-First: Pavlo
Author-X-Name-Last: Maruschak
Author-Name: Olegas Prentkovskis
Author-X-Name-First: Olegas
Author-X-Name-Last: Prentkovskis
Title: Algorithm for the assessment of heavyweight and oversize cargo transportation routes
Abstract:
The improvement of transportation systems and technologic equipment leads to changing technical capabilities of this equipment. With the development of technologies, industrial development is also inevitable, resulting in correspondingly increasing need of transportation of HeavyWeight and OverSize (HW/OS) cargo. The application of a systematic approach in HW/OS cargo transportation processes allows reducing costs of delivery of such a cargo several times, which leads to a dramatic change of economic development and investment attraction conditions. Thus creating a system of criteria for the selection and assessment of HW/OS routes, which would allow selecting the most appropriate route of transportation in terms of cost and time, is expedient for this reason. The algorithm for the assessment of HW/OS cargo transportation routes will be drawn up in this article. This algorithm enables an objective evaluation of HW/OS transportation processes comparing different modes of transport, route segments, cargo transportation and cargo handling technology, and it can be practically applied to any territory.
Journal: Journal of Business Economics and Management
Pages: 1098-1114
Issue: 6
Volume: 18
Year: 2017
Month: 11
X-DOI: 10.3846/16111699.2017.1334229
File-URL: http://hdl.handle.net/10.3846/16111699.2017.1334229
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Handle: RePEc:taf:jbemgt:v:18:y:2017:i:6:p:1098-1114
Template-Type: ReDIF-Article 1.0
Author-Name: Teodoras Medaiskis
Author-X-Name-First: Teodoras
Author-X-Name-Last: Medaiskis
Author-Name: Tadas Gudaitis
Author-X-Name-First: Tadas
Author-X-Name-Last: Gudaitis
Title: Evaluation of second pillar pension funds’ supply and investment strategies in Baltics
Abstract:
Pension accumulation companies in Baltics are allowed to offer any number of second pillar pension funds with different investment strategies. Funds are traditionally categorized by maximum limit of investments in equities. It shall help participants to choose the fund according to their risk aversion and age. However, no scientific research has been conducted to assess correctness of such a breakdown and to estimate the differences (if they exist) of pension funds assigned to distinct groups. The results show that there are limitations to the supply side of second pillar pension funds and to participants’ possibilities to select appropriate investment strategies over life-cycle. The findings from statistical analysis suggest that used classification of pension funds is not necessarily meaningful. Even if two funds belong to different categories, this does not mean that their investment strategies and results will differ significantly. It raises the need for stricter rules for setting pension funds’ investment strategies and linkage to age of participants in order to increase compatibility between supply of funds and participants’ needs over life-cycle.
Journal: Journal of Business Economics and Management
Pages: 1174-1192
Issue: 6
Volume: 18
Year: 2017
Month: 11
X-DOI: 10.3846/16111699.2017.1381145
File-URL: http://hdl.handle.net/10.3846/16111699.2017.1381145
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Handle: RePEc:taf:jbemgt:v:18:y:2017:i:6:p:1174-1192
Template-Type: ReDIF-Article 1.0
Author-Name: Giedrė Lapinskienė
Author-X-Name-First: Giedrė
Author-X-Name-Last: Lapinskienė
Author-Name: Kęstutis Peleckis
Author-X-Name-First: Kęstutis
Author-X-Name-Last: Peleckis
Author-Name: Neringa Slavinskaitė
Author-X-Name-First: Neringa
Author-X-Name-Last: Slavinskaitė
Title: Energy consumption, economic growth and greenhouse gas emissions in the European Union countries
Abstract:
This paper investigates the relationship between economic growth, greenhouse gas emissions and other factors based on the panel data of 22 countries of the EU in the period 1995–2014. The fixed effect panel model was used as a framework for the analysis. The novel contribution of this paper is that the factors of economic growth, energy consumption, energy taxes as well as R&D were tested in one expanded EKC model, including the data of three Baltic States. The regression coefficients referring to GDP, Energy consumption have a positive sign, while R&D and Energy taxes have a negative sign. The empirical analysis combines two steps of evaluation of panel models of different groups of countries. The results imply that the analysed factors (energy consumption, energy taxes as well as R&D) can be applied to adjust the EKC trend in the region and might be useful for the climate change policy adjustment.
Journal: Journal of Business Economics and Management
Pages: 1082-1097
Issue: 6
Volume: 18
Year: 2017
Month: 11
X-DOI: 10.3846/16111699.2017.1393457
File-URL: http://hdl.handle.net/10.3846/16111699.2017.1393457
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Handle: RePEc:taf:jbemgt:v:18:y:2017:i:6:p:1082-1097
Template-Type: ReDIF-Article 1.0
Author-Name: Rizwan Raheem Ahmed
Author-X-Name-First: Rizwan Raheem
Author-X-Name-Last: Ahmed
Author-Name: Jolita Vveinhardt
Author-X-Name-First: Jolita
Author-X-Name-Last: Vveinhardt
Author-Name: Dalia Streimikiene
Author-X-Name-First: Dalia
Author-X-Name-Last: Streimikiene
Title: Interactive digital media and impact of customer attitude and technology on brand awareness: evidence from the South Asian countries
Abstract:
The purpose of this study is to investigate the role of interactive digital media channels such as social media, email marketing, and mobile marketing in creating the brand awareness. We have assimilated three behavioral factors including perceived value, trust, and word of mouth as mediating factors, and the Internet and smartphone as moderating variable. Total 2565 responses have been taken to investigate the role of digital media channels, and impact of mediating and moderating variables on the brand awareness. This research has used SEM-based multivariate approach including exploratory factor analysis, confirmatory factor analysis, and conditional process technique for examining the direct and indirect influence of variables. The results of the study exhibited that the interactive digital media channels have a positive and significant direct impact on brand awareness. Results further revealed that the perceived value, trust, and word of mouth as mediating factors, and the Internet and smartphone as moderating variables have a significant and influential impact in a relationship of interactive digital media tools and the brand awareness.
Journal: Journal of Business Economics and Management
Pages: 1115-1134
Issue: 6
Volume: 18
Year: 2017
Month: 11
X-DOI: 10.3846/16111699.2017.1400460
File-URL: http://hdl.handle.net/10.3846/16111699.2017.1400460
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Handle: RePEc:taf:jbemgt:v:18:y:2017:i:6:p:1115-1134
Template-Type: ReDIF-Article 1.0
Author-Name: Beata Gavurova
Author-X-Name-First: Beata
Author-X-Name-Last: Gavurova
Author-Name: Miroslava Packova
Author-X-Name-First: Miroslava
Author-X-Name-Last: Packova
Author-Name: Maria Misankova
Author-X-Name-First: Maria
Author-X-Name-Last: Misankova
Author-Name: Lubos Smrcka
Author-X-Name-First: Lubos
Author-X-Name-Last: Smrcka
Title: Predictive potential and risks of selected bankruptcy prediction models in the Slovak business environment
Abstract:
In our study, we focused on the assessment of four bankruptcy prediction models, to figure out which model is most appropriate in the conditions of the Slovak business environment. Based on the previous research within the Slovak conditions, we set a portfolio of 4 models to be assessed: Altman model (1984), Ohlson model (1980), indexes IN01 and IN05 that were validated on the sample of 700 Slovak companies. Based on previous studies we expected that IN indexes are superior to Ohlson and Altman model. The excellency of our research lies in validation and assessing the accuracy of bankruptcy prediction models at three levels: the overall accuracy, accuracy of the bankruptcy prediction, and the non-bankruptcy prediction accuracy. This analytical structure enables to look at the topic more complexly and to increase the objectification of accuracy of analysed models. Based on the results, we showed that Ohlson model is not applicable to predict bankruptcy in the Slovak conditions as reached the lowest bankruptcy prediction ability even if has high non bankruptcy prediction ability. On the other hand, we have confirmed our expectation about the bankruptcy prediction ability of index IN05, that is proven to be superior to Ohlson and Altman model and so is the most appropriate model for Slovak business environment.
Journal: Journal of Business Economics and Management
Pages: 1156-1173
Issue: 6
Volume: 18
Year: 2017
Month: 11
X-DOI: 10.3846/16111699.2017.1400461
File-URL: http://hdl.handle.net/10.3846/16111699.2017.1400461
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Handle: RePEc:taf:jbemgt:v:18:y:2017:i:6:p:1156-1173
Template-Type: ReDIF-Article 1.0
Author-Name: Claudiu Boțoc
Author-X-Name-First: Claudiu
Author-X-Name-Last: Boțoc
Author-Name: Sorin Gabriel Anton
Author-X-Name-First: Sorin Gabriel
Author-X-Name-Last: Anton
Title: Is profitability driven by working capital management? evidence for high-growth firms from emerging Europe
Abstract:
Despite the importance of high-growth firms (HGFs) for job creation, innovation, and economic development in transition economies, current knowledge on the role of financial decisions in explaining their profitability is limited. The aim of this paper is to examine the relationship between working capital management and firm profitability. Using a panel data set on HGFs from Central, Eastern, and South-Eastern Europe during the time span 2006–2015, we found an inverted U-shape relationship between working capital level and firm profitability. Our findings indicate that HGFs should find and maintain the optimal working capital level that maximizes their profitability. Our results proved to be robust when we employ different methodology (quantile regression), different sub-samples as well as alternative measures of profitability and working capital management. The study highlights the importance of short-term financial decisions in enhancing HGFs’ profitability, with significant implications for academics and practitioners. We contribute to the extant literature by providing empirical evidence on the existence a concave relationship between working capital level and firm profitability for a cross-country sample of firms.
Journal: Journal of Business Economics and Management
Pages: 1135-1155
Issue: 6
Volume: 18
Year: 2017
Month: 11
X-DOI: 10.3846/16111699.2017.1402362
File-URL: http://hdl.handle.net/10.3846/16111699.2017.1402362
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Handle: RePEc:taf:jbemgt:v:18:y:2017:i:6:p:1135-1155
Template-Type: ReDIF-Article 1.0
Author-Name: Joanicjusz Nazarko
Author-X-Name-First: Joanicjusz
Author-X-Name-Last: Nazarko
Author-Name: Katarzyna Czerewacz-Filipowicz
Author-X-Name-First: Katarzyna
Author-X-Name-Last: Czerewacz-Filipowicz
Author-Name: Katarzyna Anna Kuźmicz
Author-X-Name-First: Katarzyna Anna
Author-X-Name-Last: Kuźmicz
Title: Comparative analysis of the Eastern European countries as participants of the new silk road
Abstract:
The Chinese One Belt One Road (OBOR) initiative often referred to as the New Silk Road (NSR), seems to be the greatest endeavour of our times in terms of economy, politics and logistics. The study aimed to examine the potential of Poland, Belarus, Lithuania, Latvia, Estonia and Russia to participate in the NSR. The method applied was comparative analysis including both quantitative and qualitative studies. The juxtaposition of data from the intensity of global integration enabled assessment of the potential negative consequences of non-participation of the countries in the NSR. In turn, the analysis of specific indicators of trade integration, the intensity of global integration and the logistics performance of the researched part of Europe has made it possible to answer the question about the most promising variants of the NSR.
Journal: Journal of Business Economics and Management
Pages: 1212-1227
Issue: 6
Volume: 18
Year: 2017
Month: 11
X-DOI: 10.3846/16111699.2017.1404488
File-URL: http://hdl.handle.net/10.3846/16111699.2017.1404488
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Handle: RePEc:taf:jbemgt:v:18:y:2017:i:6:p:1212-1227
Template-Type: ReDIF-Article 1.0
Author-Name: Alina Ianioglo
Author-X-Name-First: Alina
Author-X-Name-Last: Ianioglo
Author-Name: Tatjana Polajeva
Author-X-Name-First: Tatjana
Author-X-Name-Last: Polajeva
Title: Innovative component of economic security of enterprises: a case of the Republic of Moldova
Abstract:
In modern conditions of unpredictability, issues of ensuring the economic security of enterprise become particularly important and innovations are a significant component. The article aims to advance the knowledge of economic security and to develop the methodology of ensuring the economic security of enterprise and its innovative component. To achieve this goal, the following methods were used: systematization, data collection, analysis, comparison and the inductive method. The system of ensuring economic security was developed and the mechanism of increasing the innovative activity of enterprises in developing countries was determined, on example of the Republic of Moldova. The presented research results are important for the development of economic science as they represent a systematization of different approaches to economic security with the focus on its innovative component. The developed system, with its main phases and proposed measures, may be implemented by the management in order to strengthen the innovative activity and the economic security of enterprises, taking into account the features of a specific industry and the environment of a specific country.
Journal: Journal of Business Economics and Management
Pages: 1228-1242
Issue: 6
Volume: 18
Year: 2017
Month: 11
X-DOI: 10.3846/16111699.2017.1405365
File-URL: http://hdl.handle.net/10.3846/16111699.2017.1405365
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Handle: RePEc:taf:jbemgt:v:18:y:2017:i:6:p:1228-1242
Template-Type: ReDIF-Article 1.0
Author-Name: Jelena Stankevičienė
Author-X-Name-First: Jelena
Author-X-Name-Last: Stankevičienė
Author-Name: Lidija Kraujalienė
Author-X-Name-First: Lidija
Author-X-Name-Last: Kraujalienė
Author-Name: Agnė Vaiciukevičiūtė
Author-X-Name-First: Agnė
Author-X-Name-Last: Vaiciukevičiūtė
Title: Assessment of technology transfer office performance for value creation in higher education institutions
Abstract:
Innovative activities, knowledge exchange, patenting and commercialization of know-how are crucial to the value creation process in higher education institutions and other research organizations. The article analyses the technology transfer performance indicators of value creation. The methodology to identify and assess the technology transfer activities with the highest impact on created value are proposed in the paper. The following research methods were invoked: FARE method, allowed to calculate weights of each technology transfer performance indicator, when TOPSIS method redress all different indicators’ results and rank universities. The application of the proposed methodology was based on empirical data collected from Lithuanian universities. The results of the study reveal the importance of science business partnerships, TTO competence and scientists’ trust of TTO, applying particular technology transfer policy. The obtained results would be beneficial for universities technology transfer policy formation to maximize universities created value.
Journal: Journal of Business Economics and Management
Pages: 1063-1081
Issue: 6
Volume: 18
Year: 2017
Month: 11
X-DOI: 10.3846/16111699.2017.1405841
File-URL: http://hdl.handle.net/10.3846/16111699.2017.1405841
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Handle: RePEc:taf:jbemgt:v:18:y:2017:i:6:p:1063-1081
Template-Type: ReDIF-Article 1.0
Author-Name: Gleb Donin
Author-X-Name-First: Gleb
Author-X-Name-Last: Donin
Author-Name: Miroslav Barták
Author-X-Name-First: Miroslav
Author-X-Name-Last: Barták
Author-Name: Peter Kneppo
Author-X-Name-First: Peter
Author-X-Name-Last: Kneppo
Title: Estimation of medical equipment prices – a case study of tomotherapy equipment in the Czech Republic
Abstract:
Medical equipment (ME) is often considered to be an important factor in the growth of healthcare expenditures. In the Czech Republic (CR) validated approach does not yet exist for hospitals to use to assess commercial offers, nor is there a generally accepted methodology for regulatory bodies to allow for the evaluation of the effectiveness of prior purchases. This study intends to present a methodological approach that will allow for assessing the effectiveness of the procurement of capital ME based on international prices. The case of the purchase of tomotherapy system in the CR was used to demonstrate the developed approach. We performed a multiway search for international estimated and exact prices for tomotherapy unit using public-procurement databases, scientific papers, health technology assessment studies, professional reports, and Internet searches. All of the data that was gathered on prices was subjected to critical assessment vis-à-vis the reliability of the information. This research lays new methodology that may provide general background of international comparison studies focused on ME. The results provide support for decision making about the acquisitions of ME.
Journal: Journal of Business Economics and Management
Pages: 1193-1211
Issue: 6
Volume: 18
Year: 2017
Month: 11
X-DOI: 10.3846/16111699.2017.1409798
File-URL: http://hdl.handle.net/10.3846/16111699.2017.1409798
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Handle: RePEc:taf:jbemgt:v:18:y:2017:i:6:p:1193-1211
Template-Type: ReDIF-Article 1.0
Author-Name: Christian Seitz
Author-X-Name-First: Christian
Author-X-Name-Last: Seitz
Author-Name: Ján Pokrivčák
Author-X-Name-First: Ján
Author-X-Name-Last: Pokrivčák
Author-Name: Marián Tóth
Author-X-Name-First: Marián
Author-X-Name-Last: Tóth
Author-Name: Miroslav Plevný
Author-X-Name-First: Miroslav
Author-X-Name-Last: Plevný
Title: Online grocery retailing in Germany: an explorative analysis
Abstract:
The paper focuses on the German food retailing industry with its market characteristics and the status quo of online food retailing in Germany by analysing data from market research institutes and consumer direct questionnaire. The paper examines the consumers’ perceptions of online as well as offline grocery shopping. As a result, an online grocery model was created using PLS-SEM modelling. It illustrates all major success factors related to the consumer’s willingness to shop for groceries online in Germany. The main factors influencing the willingness to shop for groceries online are awareness of benefits, need for more convenience, and change of the lack of trust in the new distribution channel. We identified some consumer groups that are more open to online shopping as they benefit more from online grocery shopping. Especially working mothers and young professionals are the consumer groups with a high potential interest.
Journal: Journal of Business Economics and Management
Pages: 1243-1263
Issue: 6
Volume: 18
Year: 2017
Month: 11
X-DOI: 10.3846/16111699.2017.1410218
File-URL: http://hdl.handle.net/10.3846/16111699.2017.1410218
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Handle: RePEc:taf:jbemgt:v:18:y:2017:i:6:p:1243-1263
Template-Type: ReDIF-Article 1.0
Author-Name: The Editors
Title: Editorial board
Journal:
Pages: ebi-ebi
Issue: 4
Volume: 6
Year: 2005
X-DOI: 10.1080/16111699.2005.9636107
File-URL: http://hdl.handle.net/10.1080/16111699.2005.9636107
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Handle: RePEc:taf:jbemgt:v:6:y:2005:i:4:p:ebi-ebi
Template-Type: ReDIF-Article 1.0
Author-Name: John Saee
Author-X-Name-First: John
Author-X-Name-Last: Saee
Title: Societal ethics and legal system facing contemporary marketing strategies: An Australian insight
Abstract: An integral function of Australian market economy is the process of matching products/services with customers’ needs, desires and preferences. This process is greatly facilitated by advertising. Advertising not only provides information for the consumers but may also be used by the advertiser to bring subconscious consumer preferences or inchoate desires to the surface and to stimulate the demand for consumption. In carrying out these tasks, the advertiser must decide the pitch of the advertisement, the appropriate media to be used, the budget, the degree of exposure of the advertisement, market segmentation and claims to be made for the product (Goldring et al, 1987). Australian firms, irrespective of their size, rely heavily on advertising to market their products and services. The degree to which firms see the crucial role of advertising in their overall marketing mix, is clearly reflected in their annual allocation of advertising expenditure. “In 1997, total Australian advertising expenditures were $ 7.5 billion on advertising” (Miller and Layton, 2000, p. 590) All creative and imaginative forms of enticements and inducements being considered in the development of advertising strategies by these firms in an attempt to evoke favourable consumers’ responses for their offerings. Over time, some firms have come under increasing criticism by some sections of the community for their inappropriate promotional strategies which are seen as out of step with general community values and standards. Further in some instances, it is alleged that these firms have not only miscarried their social responsibility, but they have also breached the law covering Trade Practices operative in Australia and New Zealand. Such misguided corporate behaviour has also sparked negative consumerism concern, which if no corrective measure is adopted, will strategically harm the firm profit and viability. This research paper attempts to explore in some detail, aspects of advertising strategies within contemporary management paradigm. The paper will also shed light on corporate ethics /social responsibility. Finally, this paper will address legal obligations and consumerism concerns surrounding firms operating within the Australian society.
Journal: Journal of Business Economics and Management
Pages: 189-197
Issue: 4
Volume: 6
Year: 2005
X-DOI: 10.1080/16111699.2005.9636108
File-URL: http://hdl.handle.net/10.1080/16111699.2005.9636108
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Handle: RePEc:taf:jbemgt:v:6:y:2005:i:4:p:189-197
Template-Type: ReDIF-Article 1.0
Author-Name: Sigitas Urbonavičius
Author-X-Name-First: Sigitas
Author-X-Name-Last: Urbonavičius
Author-Name: Robertas Ivanauskas
Author-X-Name-First: Robertas
Author-X-Name-Last: Ivanauskas
Title: Evaluation of multiple retailers’ market positions on the basis of image attributes measurement
Abstract: Intense competition in retailing sector requires searching for new and more effective tools of competing with rivals. One of the possible ways seems to go through applying positioning concept in retailing. Positioning in retailing refers to strategy for development of a desirable image, which would help to differentiate a retail company and move away from direct price competition. Besides that, image management provides possibilities for increasing customer perceived value and/or increasing prices. The paper presents methodology for establishing multiple retailers’ positions. This methodology is based on evaluation of image attributes’ importance for customers. Factor analysis allows revealing more general latent factors that are used to evaluate retailers’ positions in a perceptual space. This allows drawing conclusions on how much Lithuanian multiple retailers are similar or differentiated from the standpoint of their customers.
Journal: Journal of Business Economics and Management
Pages: 199-206
Issue: 4
Volume: 6
Year: 2005
X-DOI: 10.1080/16111699.2005.9636109
File-URL: http://hdl.handle.net/10.1080/16111699.2005.9636109
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Handle: RePEc:taf:jbemgt:v:6:y:2005:i:4:p:199-206
Template-Type: ReDIF-Article 1.0
Author-Name: Ruth Alas
Author-X-Name-First: Ruth
Author-X-Name-Last: Alas
Author-Name: Vincent Edwards
Author-X-Name-First: Vincent
Author-X-Name-Last: Edwards
Title: Work‐related attitudes: A comparison of Estonia and Finland
Abstract: Although Estonia and Finland are culturally related, according to an empirical study in the electronics industry in the two countries they display significant differences in job‐related attitudes. This paper investigates employees’ attitudes toward society, trade unions, work, employer organisations and pay determinants in the two countries from an institutionalist and cultural perspective. While Finland has experienced almost a century of capitalism and democracy, work‐related attitudes in Estonia have been particularly affected by the 50 years of Soviet rule. It is argued that the differences in work‐related attitudes are influenced inter alia by differences in levels of institutional development.
Journal: Journal of Business Economics and Management
Pages: 207-217
Issue: 4
Volume: 6
Year: 2005
X-DOI: 10.1080/16111699.2005.9636110
File-URL: http://hdl.handle.net/10.1080/16111699.2005.9636110
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Handle: RePEc:taf:jbemgt:v:6:y:2005:i:4:p:207-217
Template-Type: ReDIF-Article 1.0
Author-Name: Aleksandras Rutkauskas
Author-X-Name-First: Aleksandras
Author-X-Name-Last: Rutkauskas
Author-Name: Gitana Dudzevičiūte
Author-X-Name-First: Gitana
Author-X-Name-Last: Dudzevičiūte
Title: Foreign capital and credit market development: The case of Lithuania
Abstract: There have been wide‐ranging discussions on whether the investments of foreign banks into the banking sector of the Central and Eastern Europe countries (CEE) lead to greater competition and increase of the loan portfolio of the banks. Several empirical works have shown that a high proportion of foreign capital in the banking sector of CEE countries has generally positive effects on the quality and amount of loan portfolio of the banking sector, but there may also be some adverse effects. Lithuania has an open economy and the credit market is open to international banking competition. The loan portfolio of the banks in Lithuania was growing very rapidly during the last year. A drop in the loan interest rates was significant and banks offered credits under favourable conditions. At the same time, the Lithuanian banking sector is largely foreign‐owned. Foreign investors currently own approx. 87 % of the share capital of banks in Lithuania. The aim of this paper is to investigate the link between the Lithuanian credit market development and the entry of foreign banks.
Journal: Journal of Business Economics and Management
Pages: 219-224
Issue: 4
Volume: 6
Year: 2005
X-DOI: 10.1080/16111699.2005.9636111
File-URL: http://hdl.handle.net/10.1080/16111699.2005.9636111
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Handle: RePEc:taf:jbemgt:v:6:y:2005:i:4:p:219-224
Template-Type: ReDIF-Article 1.0
Author-Name: Martin Schieg
Author-X-Name-First: Martin
Author-X-Name-Last: Schieg
Title: Operation and development of electronic markets as prognostic instrument for business planning
Abstract: Strategic planning is crucial for the survival of a company, wide‐ranging decisions about future action must be taken. The information basis for such decisions is often gained from forecasts about the future with more or less accurate probability of the assumed event occurring. Electronic markets have been the subject matter of numerous investigations in recent years and if organized correctly show a high degree of accuracy in forecasting future events relevant to the business of a company. In major enterprises prediction markets have already been used successfully as a new kind of prognostic instrument. It is also suitable, however, for small and medium‐sized enterprises for the gathering and assessment of the information available to the employees. When developing prognostic markets it is necessary to take into consideration psychological factors, which could favour incorrect results.
Journal: Journal of Business Economics and Management
Pages: 225-230
Issue: 4
Volume: 6
Year: 2005
X-DOI: 10.1080/16111699.2005.9636112
File-URL: http://hdl.handle.net/10.1080/16111699.2005.9636112
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Handle: RePEc:taf:jbemgt:v:6:y:2005:i:4:p:225-230
Template-Type: ReDIF-Article 1.0
Author-Name: Romualdas Ginevičius
Author-X-Name-First: Romualdas
Author-X-Name-Last: Ginevičius
Author-Name: Renata Korsakiene
Author-X-Name-First: Renata
Author-X-Name-Last: Korsakiene
Title: The knowledge‐based economy in Lithuania: Analysis of tendencies
Abstract: The purpose of this paper is to analyse the tendencies of knowledge‐based economy in Lithuania by looking at a knowledge economy's major dimensions ‐ the structure of economic activity and the infrastructure of knowledge economy. The knowledge‐based economy is the dominant post‐industrial economic development paradigm. The emergence of this paradigm in the 1980s created preconditions to emphasize the role of knowledge creation and distribution as the primary driver in the process of economic development and growth, the distribution of income, development of knowledge‐based networks among firms and the interface between government, business and citizens in the advanced economies.
Journal: Journal of Business Economics and Management
Pages: 231-239
Issue: 4
Volume: 6
Year: 2005
X-DOI: 10.1080/16111699.2005.9636113
File-URL: http://hdl.handle.net/10.1080/16111699.2005.9636113
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Handle: RePEc:taf:jbemgt:v:6:y:2005:i:4:p:231-239
Template-Type: ReDIF-Article 1.0
Author-Name: The Editors
Title: Editorial board
Journal:
Pages: ebi-ebi
Issue: 2
Volume: 8
Year: 2007
X-DOI: 10.1080/16111699.2007.9636155
File-URL: http://hdl.handle.net/10.1080/16111699.2007.9636155
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Handle: RePEc:taf:jbemgt:v:8:y:2007:i:2:p:ebi-ebi
Template-Type: ReDIF-Article 1.0
Author-Name: Sergey Mishin
Author-X-Name-First: Sergey
Author-X-Name-Last: Mishin
Title: Optimal organizational hierarchies in firms
Abstract: One of the main problems in modern economy is to construct an efficient organizational hierarchy allowing to control the firm with minimal cost. This paper describes the mathematical model of optimal hierarchies in firms. Optimal hierarchies for several classes of cost functions are obtained. Particularly, sufficient conditions for tree optimality, 2hier‐archy (any manager has two immediate subordinates) optimality and two‐tier hierarchy optimality are defined.
Journal: Journal of Business Economics and Management
Pages: 79-99
Issue: 2
Volume: 8
Year: 2007
X-DOI: 10.1080/16111699.2007.9636156
File-URL: http://hdl.handle.net/10.1080/16111699.2007.9636156
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Handle: RePEc:taf:jbemgt:v:8:y:2007:i:2:p:79-99
Template-Type: ReDIF-Article 1.0
Author-Name: Margarete Seidenspinner
Author-X-Name-First: Margarete
Author-X-Name-Last: Seidenspinner
Author-Name: Gabriele Theuner
Author-X-Name-First: Gabriele
Author-X-Name-Last: Theuner
Title: Intercultural aspects of online communication a comparison of mandarin‐speaking, US, Egyptian and German user preferences
Abstract: This paper sums up the results of a survey conducted with four samples of website users, i.e. young urban academics from the PR of China, the United States, Egypt and Germany. The survey analyses the ways in which users from such distinctly dissimilar cultural environments view websites. The websites researched are those of global operators that either offer international services, high price utility items or technologically advanced products. The results gained in the course of this research project demonstrate how the targeted users’ cultural environments may impact on their preferred navigation tools, their perceived quality of web designs and on the perception and processing of the information provided online. A brief overview of the consequences which derive from this culture‐bound user behaviour for corporate communication policies conclude this paper.
Journal: Journal of Business Economics and Management
Pages: 101-109
Issue: 2
Volume: 8
Year: 2007
X-DOI: 10.1080/16111699.2007.9636157
File-URL: http://hdl.handle.net/10.1080/16111699.2007.9636157
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Handle: RePEc:taf:jbemgt:v:8:y:2007:i:2:p:101-109
Template-Type: ReDIF-Article 1.0
Author-Name: Maria Tiago
Author-X-Name-First: Maria
Author-X-Name-Last: Tiago
Author-Name: João Couto
Author-X-Name-First: João
Author-X-Name-Last: Couto
Author-Name: Maria dos Santos Natário
Author-X-Name-First: Maria
Author-X-Name-Last: dos Santos Natário
Author-Name: Ascensão Braga
Author-X-Name-First: Ascensão
Author-X-Name-Last: Braga
Title: The adoption of communication and information technologies and the local development
Abstract: This paper examines the imbalances in the availability and usage of communication and information technology infrastructure. These imbalances could be broadly attributed to differences in funding, management and technical expertise, exposure and awareness of available technologies, training, and other infrastructures like R&D institutions. In our sample, the imbalances could be broadly attributed not only to differences in such factors as industry, dimension, management education, but also to lack of cooperation, workers mobility and reduced markets which are common factors in disfavoured regions.
Journal: Journal of Business Economics and Management
Pages: 111-117
Issue: 2
Volume: 8
Year: 2007
X-DOI: 10.1080/16111699.2007.9636158
File-URL: http://hdl.handle.net/10.1080/16111699.2007.9636158
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Handle: RePEc:taf:jbemgt:v:8:y:2007:i:2:p:111-117
Template-Type: ReDIF-Article 1.0
Author-Name: Gregor Költzsch
Author-X-Name-First: Gregor
Author-X-Name-Last: Költzsch
Title: Biometrics ‐ market segments and applications
Abstract: Biometric methods are concerned with the measurement and evaluation of human physiological or behavioral characteristics. During the last years, the economic relevance of the biometric industry and market has increased rapidly. Although public security projects have initiated the positive market development, future growth will be also generated by private sector demand such as secure and convenient banking, payment applications etc. The deployment of biometrics to machine readable travel documents such as passports provides citizens with first experiences in biometric applications, thereby functioning as pioneer projects and market openers for other market segments. For example, biometric passports will redefine the border control process in the future, and in the midterm, aviation security is another market segment that will contribute to the growth. To prepare for this business, the industry must carefully analyze the market and meet the demand. This article assesses the economic relevance of biometrics and discusses selected market segments.
Journal: Journal of Business Economics and Management
Pages: 119-122
Issue: 2
Volume: 8
Year: 2007
X-DOI: 10.1080/16111699.2007.9636159
File-URL: http://hdl.handle.net/10.1080/16111699.2007.9636159
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Handle: RePEc:taf:jbemgt:v:8:y:2007:i:2:p:119-122
Template-Type: ReDIF-Article 1.0
Author-Name: John Dobson
Author-X-Name-First: John
Author-X-Name-Last: Dobson
Author-Name: Irina Sennikova
Author-X-Name-First: Irina
Author-X-Name-Last: Sennikova
Title: From fundamental freedom to political and economic ‘hot potato’ in 50 years: Labour mobility and migration within the eu
Abstract: The free movement of labour and the creation of a European Labour Market have been the objectives of the European Union since its creation, but it is only with the 2004 enlargement that this has started to become a reality, with substantial numbers of East European workers seeking employment in the old member states. This paper uses the data from the UK Worker Registration Scheme and that compiled by the European Commission to examine the nature of this movement and its impact on the economies of both the existing and the new member states.
Journal: Journal of Business Economics and Management
Pages: 123-136
Issue: 2
Volume: 8
Year: 2007
X-DOI: 10.1080/16111699.2007.9636160
File-URL: http://hdl.handle.net/10.1080/16111699.2007.9636160
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Handle: RePEc:taf:jbemgt:v:8:y:2007:i:2:p:123-136
Template-Type: ReDIF-Article 1.0
Author-Name: Romualdas Ginevičius
Author-X-Name-First: Romualdas
Author-X-Name-Last: Ginevičius
Author-Name: Manuela Tvaronavičiene
Author-X-Name-First: Manuela
Author-X-Name-Last: Tvaronavičiene
Author-Name: Renata Korsakiene
Author-X-Name-First: Renata
Author-X-Name-Last: Korsakiene
Author-Name: Kristina Kalaūinskaite
Author-X-Name-First: Kristina
Author-X-Name-Last: Kalaūinskaite
Title: Lithuania ‐ Belarus economic relations: How the EU accession impacted bilateral trade
Abstract: Lithuania among other 10 Central and Eastern European countries joined the European Union on 1 May 2004. A lot of forecasts about transformations in international trade relationships had been discussed; overall shift towards the EU had been expected. The paper aims to verify what actual effect newly imposed trade regulations have. Presented elaboration of discussed issue would be performed in the following sequence. At first, trade structure by product groups of trade between Lithuania and Belarus in the years 2000 and 2005 would be juxtaposed. Volumes of import and export would be considered respectively. Changes in trade regime would be taken into account. Adopted approach allowed us to trace which changes in trade regime impacted trade character and which not.
Journal: Journal of Business Economics and Management
Pages: 137-144
Issue: 2
Volume: 8
Year: 2007
X-DOI: 10.1080/16111699.2007.9636161
File-URL: http://hdl.handle.net/10.1080/16111699.2007.9636161
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Handle: RePEc:taf:jbemgt:v:8:y:2007:i:2:p:137-144
Template-Type: ReDIF-Article 1.0
Author-Name: Martin Schieg
Author-X-Name-First: Martin
Author-X-Name-Last: Schieg
Title: Post‐mortem analysis on the analysis and evaluation of risks in construction project management
Abstract: Risk management is used more and more in building industry projects. An essential element of the risk management process is the analysis and evaluation of risks. Therefore, project assessment with the help of the post‐mortem analysis plays an important role. The post‐mortem analysis is a tool frequently used in software projects today for the reduction of risks. The clearness of the goal of improvement measures is sharpened by the examination of the project steps in connection with the success factors of the organization. The results of a post‐mortem analysis deliver detailed information on where improvement measurements are necessary in the project future. Growth in project management know‐how is created through the discussion of the participants of all hierarchy levels. Therefore, the post‐mortem analysis is also applicable for use in the construction project. The procedure is introduced in the work at hand.
Journal: Journal of Business Economics and Management
Pages: 145-153
Issue: 2
Volume: 8
Year: 2007
X-DOI: 10.1080/16111699.2007.9636162
File-URL: http://hdl.handle.net/10.1080/16111699.2007.9636162
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Handle: RePEc:taf:jbemgt:v:8:y:2007:i:2:p:145-153
Template-Type: ReDIF-Article 1.0
Author-Name: Sunday Oke
Author-X-Name-First: Sunday
Author-X-Name-Last: Oke
Author-Name: Oluwafemi Oyedokun
Author-X-Name-First: Oluwafemi
Author-X-Name-Last: Oyedokun
Title: Development and application of a mathematical model for evaluating extra energy cost due to disproportional energy consumption
Abstract: In this investigation, a scientific approach is presented in quantifying energy losses associated with production facilities. The corresponding analytical approach in estimating energy requirement of equipment is shown. In particular, mathematical information on how extra energy cost due to extra energy losses that occur in equipment is measured has been shown. The premise of the study is based on the fact that the value of the efficiency of the equipment determines the value of the energy that can be lost for a time frame. Similarly, the heat generated in some equipment, like lamps and air conditioner, can constitute energy lost in equipment. The paper then further shows that the energy cost paid for the energy losses that occur in equipment can be determined by using the energy cost rate used for calculating the cost paid for the useful work done. As manufacturing companies strive to meet and exceed the expected needs of the customer with cost saving manufacturing processes, a major hurdle is the losses in energy transfer as a result of inefficiencies in operations. This paper is geared towards achieving effective and efficient manufacturing processes by researching into trends in energy losses. The results obtained show the feasibility of the applied procedure. There is no previous documentation that has addressed the current problem using the approach presented. This is therefore a new way of viewing energy consumption.
Journal: Journal of Business Economics and Management
Pages: 155-161
Issue: 2
Volume: 8
Year: 2007
X-DOI: 10.1080/16111699.2007.9636163
File-URL: http://hdl.handle.net/10.1080/16111699.2007.9636163
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Handle: RePEc:taf:jbemgt:v:8:y:2007:i:2:p:155-161
Template-Type: ReDIF-Article 1.0
Author-Name: The Editors
Title: Editorial board
Journal:
Pages: ebi-ebii
Issue: 4
Volume: 11
Year: 2010
X-DOI: 10.1080/16111699.2010.9668415
File-URL: http://hdl.handle.net/10.1080/16111699.2010.9668415
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Handle: RePEc:taf:jbemgt:v:11:y:2010:i:4:p:ebi-ebii
Template-Type: ReDIF-Article 1.0
Author-Name: The Editors
Title: Editorial board
Journal:
Pages: ebi-ebi
Issue: 3
Volume: 8
Year: 2007
X-DOI: 10.1080/16111699.2007.9636164
File-URL: http://hdl.handle.net/10.1080/16111699.2007.9636164
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Handle: RePEc:taf:jbemgt:v:8:y:2007:i:3:p:ebi-ebi
Template-Type: ReDIF-Article 1.0
Author-Name: Alexander Suhobokov
Author-X-Name-First: Alexander
Author-X-Name-Last: Suhobokov
Title: Application of Monte Carlo simulation methods in risk management
Abstract: The paper deals with Monte Carlo simulation method and its application in Risk Management. The author with the help of MATLAB 7.0 introduces new modification of Monte Carlo algorithm aimed at fast and effective calculation of financial organization's Value at Risk (VaR) by the example of Parex Bank's FOREX exposure.
Journal: Journal of Business Economics and Management
Pages: 165-168
Issue: 3
Volume: 8
Year: 2007
X-DOI: 10.1080/16111699.2007.9636165
File-URL: http://hdl.handle.net/10.1080/16111699.2007.9636165
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Handle: RePEc:taf:jbemgt:v:8:y:2007:i:3:p:165-168
Template-Type: ReDIF-Article 1.0
Author-Name: Avner Ben‐Yair
Author-X-Name-First: Avner
Author-X-Name-Last: Ben‐Yair
Author-Name: Dimitri Golenko‐Ginzburg
Author-X-Name-First: Dimitri
Author-X-Name-Last: Golenko‐Ginzburg
Author-Name: Zohar Laslo
Author-X-Name-First: Zohar
Author-X-Name-Last: Laslo
Title: Multi‐parametrical harmonization models in strategic management
Abstract: The aim of this paper is to consider a company engaged in designing and creating a new product and, later on, delivering the latter in large quantities to the market. The product is composed of several sub‐products, each of them, in turn, being a subject of several possible versions. The product's utility comprises both the utility of designing and creating the product's pattern example as well as the competitive utility to gain the future commercial success. The problem is to determine the income versions of designing sub‐products in order to maximize the product's competitive utility subject to restrictions related to the design process. A two‐level search algorithm for the problem's solution is suggested. The internal level is faced with optimizing the product's competitive utility by means of experts’ information, while the external level centers on obtaining a routine feasible solution from the point of designing process.
Journal: Journal of Business Economics and Management
Pages: 169-176
Issue: 3
Volume: 8
Year: 2007
X-DOI: 10.1080/16111699.2007.9636166
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Handle: RePEc:taf:jbemgt:v:8:y:2007:i:3:p:169-176
Template-Type: ReDIF-Article 1.0
Author-Name: Rima Tamošiūniene
Author-X-Name-First: Rima
Author-X-Name-Last: Tamošiūniene
Author-Name: Skirmantas Šidlauskas
Author-X-Name-First: Skirmantas
Author-X-Name-Last: Šidlauskas
Author-Name: Ingrida Trumpaite
Author-X-Name-First: Ingrida
Author-X-Name-Last: Trumpaite
Title: EU structural support and its impact on Lithuania's progress
Abstract: During the last years the changes of social ‐ economic situation have been fast, however, according to individual macroeconomic indexes Lithuania is still significantly below the average of EU countries. To decrease these discrepancies the EU grants the structural support, the use of which is anticipated to establish strong and competitive economy, to train qualified labour force and stimulate social and economic cohesion. The efficient and expedient use of the EU support would enable Lithuania to implement the national Lisbon strategy programme and contribute to the implementation of the very Lisbon strategy guidelines. However, the investigations showed that the use of the support is not sufficient enough to secure the efficient progress of the country. The article analyses the aspects of the EU regional policy financing and the expected results of implementing the Lisbon strategy actions; it analyses economic, social, environmental, and other indexes of the economies of Lithuania and EU countries and assesses the result of the country's progress in implementing the Lisbon strategy. The research on the expedience of using the EU structural support and its impact on the country's progress was carried out. The research made on the use of the EU support and its impact on the country's progress suggests that about two thirds of the measures correspond to the national programme for implementing the Lisbon strategy but only few indicators have a complex influence on the progress indexes. Therefore, while preparing the programmes of the EU support use for 2007–2013 and coordinating them with the EU Commission a better harmonization of this support use measures with the national programme for implementing the Lisbon strategy is necessary, and the measures have to be implemented in a complex manner, as well as the horizontal compatibility of the measures has to be maintained.
Journal: Journal of Business Economics and Management
Pages: 177-187
Issue: 3
Volume: 8
Year: 2007
X-DOI: 10.1080/16111699.2007.9636167
File-URL: http://hdl.handle.net/10.1080/16111699.2007.9636167
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Handle: RePEc:taf:jbemgt:v:8:y:2007:i:3:p:177-187
Template-Type: ReDIF-Article 1.0
Author-Name: Külliki Tafel
Author-X-Name-First: Külliki
Author-X-Name-Last: Tafel
Author-Name: Ruth Alas
Author-X-Name-First: Ruth
Author-X-Name-Last: Alas
Title: Various types of Estonian top‐managers
Abstract: Although there is no substantial change on this side, that leaders achieve results through the others work, there are still differences in the way, how leader achieves this. Based on empirical data from Cross Cultural CEO project this paper aims to classify leaders of Estonian organizations. The empirical study involved interviews with CEOs of 63 companies and questionnaires completed by the CEOs and their subordinates. Two types of top managers were received: directive type and team player. Self‐organizing theory has been applied for interpreting results. Implications are developed for leadership development in countries in transition.
Journal: Journal of Business Economics and Management
Pages: 189-194
Issue: 3
Volume: 8
Year: 2007
X-DOI: 10.1080/16111699.2007.9636168
File-URL: http://hdl.handle.net/10.1080/16111699.2007.9636168
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Handle: RePEc:taf:jbemgt:v:8:y:2007:i:3:p:189-194
Template-Type: ReDIF-Article 1.0
Author-Name: Manuela Tvaronavičiene
Author-X-Name-First: Manuela
Author-X-Name-Last: Tvaronavičiene
Author-Name: Mantas Degutis
Author-X-Name-First: Mantas
Author-X-Name-Last: Degutis
Title: If approach to innovations differs in locally and foreign owned firms: Case of Lithuania
Abstract: Presented paper aims to reveal differences, if any, in innovative behavior of business firms containing foreign and not foreign capital. Innovative behavior in that case is being characterized by scale of investment into research and development, self‐financing pattern and business strategy undertaken by various firms. Juxtaposition of business firms operating in the same economy field but having different ownership origin ‐ local and containing foreign capital ‐ has been performed. Results let us identify differences in approach to innovative activity stipulated by presence of foreign capital. Tendencies obtained in Lithuania plausibly might have been verified in other less advanced European countries in order to check if a consistent pattern could be admitted.
Journal: Journal of Business Economics and Management
Pages: 195-202
Issue: 3
Volume: 8
Year: 2007
X-DOI: 10.1080/16111699.2007.9636169
File-URL: http://hdl.handle.net/10.1080/16111699.2007.9636169
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Handle: RePEc:taf:jbemgt:v:8:y:2007:i:3:p:195-202
Template-Type: ReDIF-Article 1.0
Author-Name: Nina Ponikvar
Author-X-Name-First: Nina
Author-X-Name-Last: Ponikvar
Author-Name: Melita Rant
Author-X-Name-First: Melita
Author-X-Name-Last: Rant
Title: Firm specific determinants of markup ‐ the case of Slovenian manufacturing firms
Abstract: Investigations of firms’ pricing decisions and performances have been twofold. While within the industrial organisation framework stress is placed on industry‐specific factors and the market power of firms within industries, various organisational theories emphasise the role of ‘soft’ factors in the determination of firms’ performance. The main thesis of our paper is that the size of a firm's markup can mostly be explained by the firm's productivity, capital and labour costs, as well as the firm's market power and organisational structure characteristics, when the external environment and industry membership is controlled for. Our objective is thus to explain firm‐level markups by a set of firm‐specific factors. The empirical analysis of markup determinants is based on a sample of Slovenian manufacturing firms (NACE 15–37) in the 1994–2003 period, applying panel data regression GLS model and ANOVA analyses. We find that, besides market share and cost factors, organisational structure change occurring after some threshold significantly increases markups.
Journal: Journal of Business Economics and Management
Pages: 203-212
Issue: 3
Volume: 8
Year: 2007
X-DOI: 10.1080/16111699.2007.9636170
File-URL: http://hdl.handle.net/10.1080/16111699.2007.9636170
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Handle: RePEc:taf:jbemgt:v:8:y:2007:i:3:p:203-212
Template-Type: ReDIF-Article 1.0
Author-Name: Rasa Smaliukiene
Author-X-Name-First: Rasa
Author-X-Name-Last: Smaliukiene
Title: Stakeholders’ impact on the environmental responsibility: Model design and testing
Abstract: The study is based on comparative theoretical research into the concepts of corporate social and environmental responsibilities. Multinational enterprises (MNEs) are responsive to the stakeholders’ needs. Therefore, environmental business management was integrated into model of corporate social responsibility. This demonstrates that social processes influencing corporate social responsibility are of equal importance for the development of environmental responsibility. Simultaneously, this theoretical integration leads to an understanding that corporate environmental responsibility may be also introduced into other theoretical models of social responsibility, which assess impacts of stakeholders and other social influences. The empirical research demonstrates that environmental expectations of stakeholders are different in economically different countries. In addition, the stakeholders differently see the functions of business in environmental issues. Qualitative content analysis disclosed what form of environmental responsibility is proper in countries of developed, developing and emerging economies. In developing economies, donations are demanded most of all; in emerging economies exposed to various transformations, there is a need for social investments; in developed economies full business co‐operation is preferred on environmental issues. Most important environmental outcomes of MNEs, as reflected in their annual statements, demonstrate business adaptation to different stakeholders’ expectations built in economically different countries.
Journal: Journal of Business Economics and Management
Pages: 213-223
Issue: 3
Volume: 8
Year: 2007
X-DOI: 10.1080/16111699.2007.9636171
File-URL: http://hdl.handle.net/10.1080/16111699.2007.9636171
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Handle: RePEc:taf:jbemgt:v:8:y:2007:i:3:p:213-223
Template-Type: ReDIF-Article 1.0
Author-Name: Bioye Aluko
Author-X-Name-First: Bioye
Author-X-Name-Last: Aluko
Title: Accuracy of auction sale valuations in distressed bank lending decisions in Nigeria
Abstract: Of all the sub‐sectors of the national economy, the banking industry and the property market have arguably been most severely affected by the current recession. Thus, the prevailing credit crunch in real estate finance and market conditions have implication for disposal and valuations of real estate for mortgage purposes. The study examined whether forced sale valuations of mortgage properties were a good proxy for their auction sale prices. Relevant data involving 67 auction sales of foreclosed residential property transactions together with their contemporaneous forced sale valuations were pooled together in Lagos Metropolis during the period 1994 to 2003 from sample of estate surveying and valuation/auctioneering firms, the lending institutions and the Nigeria Deport Insurance Corporation. The data obtained were analyzed with the aid of frequency distributions and multiple regression models. The study revealed, amongst others, that forced sale values are not good proxies for auction sale prices as against the conclusions of previous studies on accuracy of open market valuations either in Nigeria or other countries like UK, USA and Australia. The implications of the foregoing conclusions on the lending decisions and valuation profession in the country were further examined in the paper.
Journal: Journal of Business Economics and Management
Pages: 225-233
Issue: 3
Volume: 8
Year: 2007
X-DOI: 10.1080/16111699.2007.9636172
File-URL: http://hdl.handle.net/10.1080/16111699.2007.9636172
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Handle: RePEc:taf:jbemgt:v:8:y:2007:i:3:p:225-233
Template-Type: ReDIF-Article 1.0
Author-Name: The Editors
Title: Editorial board
Journal:
Pages: ebi-ebi
Issue: 1
Volume: 7
Year: 2006
X-DOI: 10.1080/16111699.2006.9636114
File-URL: http://hdl.handle.net/10.1080/16111699.2006.9636114
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Handle: RePEc:taf:jbemgt:v:7:y:2006:i:1:p:ebi-ebi
Template-Type: ReDIF-Article 1.0
Author-Name: David Elmakis
Author-X-Name-First: David
Author-X-Name-Last: Elmakis
Author-Name: Anatoly Lisnianski
Author-X-Name-First: Anatoly
Author-X-Name-Last: Lisnianski
Title: Life cycle cost analysis: Actual problem in industrial management
Abstract: The reliability associated costs are the main part of total life cycle cost for any repairable system. The paper presents the history of life cycle cost analysis, its principles and applicable standards. It analyzes the reasons behind the contradiction between the great theoretical achievements and their relatively rare applications in practice. It was shown that incorrect management is the main reason. Measures for management improvement were suggested.
Journal: Journal of Business Economics and Management
Pages: 5-8
Issue: 1
Volume: 7
Year: 2006
X-DOI: 10.1080/16111699.2006.9636115
File-URL: http://hdl.handle.net/10.1080/16111699.2006.9636115
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Handle: RePEc:taf:jbemgt:v:7:y:2006:i:1:p:5-8
Template-Type: ReDIF-Article 1.0
Author-Name: D. Golembiovsky
Author-X-Name-First: D.
Author-X-Name-Last: Golembiovsky
Author-Name: I. Baryshnikov
Author-X-Name-First: I.
Author-X-Name-Last: Baryshnikov
Title: Volatility smile at the Russian option market
Abstract: The main derivative exchange in Russia is FORTS (Futures and Options in RTS) which is a division of Russian Trade System (RTS). The underlying assets of option contracts are futures on Russian companies’ shares: OJSC “EES"1, OJPC “Lukoil"2 and OJSC “Gazprom"3. A basic model for estimation of fair option price is Black‐Scholes model, developed in the beginning of 70‐s’ years of the last century. This model defines the option premium as a cost of its hedging by underlying asset. It uses a number of assumptions: prices of underlying assets follow log‐normal distribution; hedging is accomplished continuously; an underlying asset is infinitely divisible; a volatility is constant on all period of option life. However, according to practice, prices of shares and futures do not follow normal or log‐normal distribution, a volatility can change during a life of option, and hedging is a discrete process. Thus, Black‐Scholes model can yield inexact results in real markets, especially it concerns deeply “in the money” or deeply “out of the money” options. The basic purpose of the paper is to investigate opportunities to apply Black‐Scholes model for an estimation of option premiums in the Russian market.
Journal: Journal of Business Economics and Management
Pages: 9-15
Issue: 1
Volume: 7
Year: 2006
X-DOI: 10.1080/16111699.2006.9636116
File-URL: http://hdl.handle.net/10.1080/16111699.2006.9636116
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Handle: RePEc:taf:jbemgt:v:7:y:2006:i:1:p:9-15
Template-Type: ReDIF-Article 1.0
Author-Name: Dimitri Golenko‐Ginzburg
Author-X-Name-First: Dimitri
Author-X-Name-Last: Golenko‐Ginzburg
Author-Name: Zohar Laslo
Author-X-Name-First: Zohar
Author-X-Name-Last: Laslo
Author-Name: Avner Ben‐Yair
Author-X-Name-First: Avner
Author-X-Name-Last: Ben‐Yair
Author-Name: Anna Baron
Author-X-Name-First: Anna
Author-X-Name-Last: Baron
Title: Optimizing budget allocation among project activities
Abstract: The problems of optimal budget allocation among project's activities are considered. The formulated optimization models and their solution can be used in planning, as well as in control and monitoring of individual projects in modern design offices. Models of budget allocation for PERT‐COST type networks, are considered as well. The problem is to schedule a realization of all project's activities in order to accomplish the project on time, i.e., not later than the given due date, with minimal expenses, taking into account limitations on dynamics of resources consumption during the scheduled period. The solution is based on decomposition principle, i.e., decomposing a network project into network fragments, replacing them by a small number of aggregated activities, solving the problem for aggregated network project, and disaggregating the network diagram in order to schedule each project's activity.
Journal: Journal of Business Economics and Management
Pages: 17-20
Issue: 1
Volume: 7
Year: 2006
X-DOI: 10.1080/16111699.2006.9636117
File-URL: http://hdl.handle.net/10.1080/16111699.2006.9636117
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Handle: RePEc:taf:jbemgt:v:7:y:2006:i:1:p:17-20
Template-Type: ReDIF-Article 1.0
Author-Name: Eugene Kopytov
Author-X-Name-First: Eugene
Author-X-Name-Last: Kopytov
Author-Name: Leonid Greenglaz
Author-X-Name-First: Leonid
Author-X-Name-Last: Greenglaz
Author-Name: Fedor Tissen
Author-X-Name-First: Fedor
Author-X-Name-Last: Tissen
Title: Stochastic inventory control model with two stages in ordering process
Abstract: The purpose of offered work is the construction of a stochastic single‐product inventory control model for the chain “producer – wholesaler – customer”. Given situation takes place in many transport and industrial companies. Criterion of optimization is minimum of average expenses for goods holding, ordering and losses from deficit per a time unit.
Journal: Journal of Business Economics and Management
Pages: 21-24
Issue: 1
Volume: 7
Year: 2006
X-DOI: 10.1080/16111699.2006.9636118
File-URL: http://hdl.handle.net/10.1080/16111699.2006.9636118
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Handle: RePEc:taf:jbemgt:v:7:y:2006:i:1:p:21-24
Template-Type: ReDIF-Article 1.0
Author-Name: Mikhail Rogov
Author-X-Name-First: Mikhail
Author-X-Name-Last: Rogov
Title: Global risk factors
Abstract: The paper deals with a problem of solar and geomagnetic activity as global risk factors in financial risk management. The history of the idea of solar – earth relations is rather long (Hershel, 1804; Jevans, 1870 – Theory of Solar cycles, Chizhevsky, 1920 ‐ Theory of Heliotaraxy; Collins, 1965 etc.), but financial risk management does not use these facts really and this paper may help to demonstrate some new risk management tools based on new results of the author's studies (Rogov 2003).
Journal: Journal of Business Economics and Management
Pages: 25-28
Issue: 1
Volume: 7
Year: 2006
X-DOI: 10.1080/16111699.2006.9636119
File-URL: http://hdl.handle.net/10.1080/16111699.2006.9636119
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Handle: RePEc:taf:jbemgt:v:7:y:2006:i:1:p:25-28
Template-Type: ReDIF-Article 1.0
Author-Name: Charles Tapiero
Author-X-Name-First: Charles
Author-X-Name-Last: Tapiero
Title: Strategic quality assurance
Abstract: The purpose of this paper is to provide a strategic (game) approach to Quality Assurance. Unlike previous approaches that presume non‐motivated sources of risk, we assume in this paper that risk may arise strategically due to other motivations. For example, problems associated to supply risks received by a producer‐buyer. As a result, strategic quality assurance problems are formulated in terms of random payoff game which we solve while using the traditional approach to risk specification imbedded in quantile risks (Type I and Type II errors in statistics or producers and consumers risks). Technically, the approach devised consists in solving risk constrained (random payoff) games which involve strategic partners, potentially in conflict. The approach devised is then applied to a number of problems spanning essentially mutual sampling (quality assurance) between a buyer and supplier and strategic quality control in supply chains where potential conflict and information and power asymmetry is an inherent part of the operational problem to be dealt with. In such circumstances, contracts agreements might be violated if the parties do not apply strategic control tools to assure that what was intended is actually performed.
Journal: Journal of Business Economics and Management
Pages: 29-35
Issue: 1
Volume: 7
Year: 2006
X-DOI: 10.1080/16111699.2006.9636120
File-URL: http://hdl.handle.net/10.1080/16111699.2006.9636120
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Handle: RePEc:taf:jbemgt:v:7:y:2006:i:1:p:29-35
Template-Type: ReDIF-Article 1.0
Author-Name: The Editors
Title: Editorial board
Journal:
Pages: ebi-ebi
Issue: 4
Volume: 8
Year: 2007
X-DOI: 10.1080/16111699.2007.9636173
File-URL: http://hdl.handle.net/10.1080/16111699.2007.9636173
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Handle: RePEc:taf:jbemgt:v:8:y:2007:i:4:p:ebi-ebi
Template-Type: ReDIF-Article 1.0
Author-Name: Aleksandras Rutkauskas
Author-X-Name-First: Aleksandras
Author-X-Name-Last: Rutkauskas
Author-Name: John Saee
Author-X-Name-First: John
Author-X-Name-Last: Saee
Title: Guest editorial
Journal:
Pages: 235-235
Issue: 4
Volume: 8
Year: 2007
X-DOI: 10.1080/16111699.2007.9636174
File-URL: http://hdl.handle.net/10.1080/16111699.2007.9636174
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Handle: RePEc:taf:jbemgt:v:8:y:2007:i:4:p:235-235
Template-Type: ReDIF-Article 1.0
Author-Name: Francisco Areal
Author-X-Name-First: Francisco
Author-X-Name-Last: Areal
Author-Name: Michele Ceddia
Author-X-Name-First: Michele
Author-X-Name-Last: Ceddia
Author-Name: Pasquale Pazienza
Author-X-Name-First: Pasquale
Author-X-Name-Last: Pazienza
Title: Predicting the impact of the EU common agricultural policy reform in England: Micro and macroeconomic aspects
Abstract: In this article we investigate the effects of the European CAP reform on a selection of arable crops in England, both at a regional and national level. The results show that the CAP reform will push farmers to adjust to the new market conditions, which will cause a further restructuring of the English agricultural business sector. Our results show that, under the new market conditions, economically‐small farms will increase their output by allocating more land to cereals, whereas economically‐large farms will need to decrease land allocated to cereals to reduce production costs and achieve better returns.
Journal: Journal of Business Economics and Management
Pages: 237-244
Issue: 4
Volume: 8
Year: 2007
X-DOI: 10.1080/16111699.2007.9636175
File-URL: http://hdl.handle.net/10.1080/16111699.2007.9636175
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Handle: RePEc:taf:jbemgt:v:8:y:2007:i:4:p:237-244
Template-Type: ReDIF-Article 1.0
Author-Name: Juozas Bivainis
Author-X-Name-First: Juozas
Author-X-Name-Last: Bivainis
Author-Name: Živile Tunčikiene
Author-X-Name-First: Živile
Author-X-Name-Last: Tunčikiene
Title: Integrated approach to strategic planning in public institutions
Abstract: Planning of actions for implementation of institution's strategic decisions is one of the most complicated, on the other hand, the weakest in methodic provision complex objectives of strategic planning. Considering the local target of this phase of the strategic planning cycle to set the best ways to take the right directions in development of the scope of activity of an institution, a well‐reasoned composition of such a complex objective is as follows: generating action plan alternatives, defining the evaluation criteria of the alternatives and forming a combination of criteria, analysis and evaluation of the action plan alternatives, adopting a plan. The structure of an action plan for implementing institution's strategic decisions arose the necessity to identify two‐level objectives for drawing up the plan as well as the specific sequence of objective fulfilment in an analysed complex. The specifics of each level was evaluated in our proposals for improvement of the planning of the implementation of institution's strategic decisions based on the analysis of the results of progressive experience.
Journal: Journal of Business Economics and Management
Pages: 245-252
Issue: 4
Volume: 8
Year: 2007
X-DOI: 10.1080/16111699.2007.9636176
File-URL: http://hdl.handle.net/10.1080/16111699.2007.9636176
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Handle: RePEc:taf:jbemgt:v:8:y:2007:i:4:p:245-252
Template-Type: ReDIF-Article 1.0
Author-Name: Marija Burinskiene
Author-X-Name-First: Marija
Author-X-Name-Last: Burinskiene
Author-Name: Vitalija Rudzkiene
Author-X-Name-First: Vitalija
Author-X-Name-Last: Rudzkiene
Title: Application of logit regression models for the identification of market segments
Abstract: A success of the currently implemented projects and measures is determined not only by the urgency and soundness of idea and the size of the budget, but also by the direction of resources to those users and organizations, from which the largest return could be expected, by the public opinion about the current business and a success of project presentation in various forms of mass media. For identification of target market, to which the business strategy will be directed, one should know the features, needs and opinions of the users in order to define the coherent homogenous groups. Various mathematical models are applied to define these groups. When developing the empirical topology the factor and cluster analysis methods are mostly used. Logit regression may be used to analyse and forecast relations of the dependent dichotomic variable and independent variables measured at any scale. Above‐given algorithms of the quality data analysis are illustrated by the case when the dependent variable is of dichotomic nature. Drafting general plans of Akmene region a questionnaire survey of inhabitants of the region and towns was carried out. Application of quality analysis methods is a valuable measure enabling specialists and planners to apply the proposed solutions by taking account of their specific features and peculiarities.
Journal: Journal of Business Economics and Management
Pages: 253-258
Issue: 4
Volume: 8
Year: 2007
X-DOI: 10.1080/16111699.2007.9636177
File-URL: http://hdl.handle.net/10.1080/16111699.2007.9636177
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Handle: RePEc:taf:jbemgt:v:8:y:2007:i:4:p:253-258
Template-Type: ReDIF-Article 1.0
Author-Name: Filippo Reganati
Author-X-Name-First: Filippo
Author-X-Name-Last: Reganati
Author-Name: Edgardo Sica
Author-X-Name-First: Edgardo
Author-X-Name-Last: Sica
Title: Horizontaland vertical spillovers from FDI: Evidence from panel data for the Italian manufacturing sector
Abstract: Foreign direct investment (FDI) from Multinational Enterprises (MNEs) can be beneficial to host countries, since it may generate positive externalities to domestic firms, contributing to the increase of their productivity. These positive effects can take place both within an industry ("horizontal” spillovers) and across industries ("vertical” spillovers) as in the case of technology transfers to domestic suppliers or customers in the production chain. Using a firm‐level panel data, in this paper we analyse productivity spillovers from FDI in the Italian manufacturing firms both within and across industries. Our results suggest the existence of “vertical” spillovers and no evidence of “horizontal” ones.
Journal: Journal of Business Economics and Management
Pages: 259-266
Issue: 4
Volume: 8
Year: 2007
X-DOI: 10.1080/16111699.2007.9636178
File-URL: http://hdl.handle.net/10.1080/16111699.2007.9636178
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Handle: RePEc:taf:jbemgt:v:8:y:2007:i:4:p:259-266
Template-Type: ReDIF-Article 1.0
Author-Name: Virgilija Zinkevičiūte
Author-X-Name-First: Virgilija
Author-X-Name-Last: Zinkevičiūte
Title: Evaluation of business strategic decisions under changing environment conditions
Abstract: A problem of strategic decisions evaluation under changing environment conditions is analyzed in this article. In the context of these conditions the use of scenarios’ method, integrating scenarios formation into strategic decisions evaluation process, is perspective. The combination of multicriteria evaluation and scenarios’ method allows versatile evaluation of strategic decisions in aspects of usefulness and viability regarding perspective environment situations. A universal scenarios formation technology oriented towards facilitation of scenarios creation using a graphic tool ‐ ‘ Scenarios Roads’ Analysis’ is offered. Methodological guidelines of strategic decisions evaluation applying multicriteria evaluation and scenarios’ method combination is provided as well as their acceptability tested on experiment results.
Journal: Journal of Business Economics and Management
Pages: 267-274
Issue: 4
Volume: 8
Year: 2007
X-DOI: 10.1080/16111699.2007.9636179
File-URL: http://hdl.handle.net/10.1080/16111699.2007.9636179
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Handle: RePEc:taf:jbemgt:v:8:y:2007:i:4:p:267-274
Template-Type: ReDIF-Article 1.0
Author-Name: Olga Savčuk
Author-X-Name-First: Olga
Author-X-Name-Last: Savčuk
Title: Internal audit efficiency evaluation principles
Abstract: Current business environment has experienced rapid and revolutionary change with far reaching consequences for companies worldwide. Management responses to fierce global competition include improved quality and risk management initiatives, reengineered structures and processes and greater accountability to ensure more timely, reliable and relevant information for decision‐making and to secure confidence and trust of the investors. Over the last few years the importance to the strong corporate governance of managing risk has been increasingly acknowledged. Companies are under pressure to identify all the business risks they face: social, ethical and environmental as well as financial and operational, and to explain how they manage them to an acceptable level. Therefore in order to reach its objectives each company has to develop and implement an approach to assessing and managing the uncertainties and opportunities it faces in the pursuit of its business strategy, with the intention of maximizing shareholder value and performance, i.e. meeting the determined objectives. Shareholders are extremely demanding with respect to the activities of the management and want an independent and objective assessment of the risk management and governance system the management is responsible for. In this radically changed business environment the internal auditing gained an important role within companies. Over the past sixty years internal audit developed from control function responsible for inspection of accounting and financial data to a strategic partner for the shareholders and the management of the company in improving governance processes. In current environment the management of the company more and more rely on the internal audit to evaluate whether controls are sufficient to manage risks and uncertainties. This developing role of the internal auditing is also reflected in its current definition, i.e. internal auditing is an independent, objective assurance and consulting activity designed to add value and improve a company's operations. It helps an organization accomplish its objectives by bringing a systematic, disciplined approach to evaluate and improve the effectiveness of risk management, control and governance processes. Only efficient internal audit can perform its tasks properly. Internal audit efficiency depends on its subordination level, which must be appropriate for internal audit to be independent and objective, on the professional qualification and practical experience of internal audit staff, on the internal audit strategy, activities and value added to the company and on the ability to improve itself. The article analyses efficient internal audit establishment and support issues and internal audit efficiency estimation principles. Taking into account the scope of organization's direction and control, internal audit takes on important roles, integrating several other governance and control aspects into organizational governance and stands out as the most important, single mechanism for ensuring adequate and effective governance of the organization. The article provides criteria to assess efficiency of internal audit which could be applied when implementing internal audit function or improving the existing one.
Journal: Journal of Business Economics and Management
Pages: 275-284
Issue: 4
Volume: 8
Year: 2007
X-DOI: 10.1080/16111699.2007.9636180
File-URL: http://hdl.handle.net/10.1080/16111699.2007.9636180
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Handle: RePEc:taf:jbemgt:v:8:y:2007:i:4:p:275-284
Template-Type: ReDIF-Article 1.0
Author-Name: Manuela Tvaronavičiene
Author-X-Name-First: Manuela
Author-X-Name-Last: Tvaronavičiene
Author-Name: Virginija Grybaite
Author-X-Name-First: Virginija
Author-X-Name-Last: Grybaite
Title: Impact of FDI on Lithuanian economy: Insight into development of main economic activities
Abstract: Aim of the paper is to estimate impact of foreign direct investment (FDI) on growth of economy in Lithuania. In order to detect specifics of development of main economic activities, differences in structure of FDI and structure of GDP of host economy are being juxtaposed, FDI intensity indicator in main economic activities elaborated. Authors test if different levels of penetration of foreign capital into certain economic activities serve as important factor affecting their economic growth. Research is being developed further by making assumption about higher concentration of FDI intensive economic activities. Higher concentration in that context would be interpreted as possible crowding out of local business firms from FDI intensive industries.
Journal: Journal of Business Economics and Management
Pages: 285-290
Issue: 4
Volume: 8
Year: 2007
X-DOI: 10.1080/16111699.2007.9636181
File-URL: http://hdl.handle.net/10.1080/16111699.2007.9636181
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Handle: RePEc:taf:jbemgt:v:8:y:2007:i:4:p:285-290
Template-Type: ReDIF-Article 1.0
Author-Name: The Editors
Title: Editorial board
Journal:
Pages: ebi-ebi
Issue: 2
Volume: 6
Year: 2005
X-DOI: 10.1080/16111699.2005.9636093
File-URL: http://hdl.handle.net/10.1080/16111699.2005.9636093
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Handle: RePEc:taf:jbemgt:v:6:y:2005:i:2:p:ebi-ebi
Template-Type: ReDIF-Article 1.0
Author-Name: Stanislava Luptáková
Author-X-Name-First: Stanislava
Author-X-Name-Last: Luptáková
Author-Name: Branislav Vargic
Author-X-Name-First: Branislav
Author-X-Name-Last: Vargic
Author-Name: Ivan Kincel
Author-X-Name-First: Ivan
Author-X-Name-Last: Kincel
Title: National culture dimension of power distance in the Baltic States
Abstract: The paper presents a calculation for the values of power distance index in the countries of Latvia, Lithuania and Estonia using a mathematical model that is based on the correlations between power distance index values of the original research conducted by Geert Hofstede and macroeconomic indicators. Following, the paper presents implications of the found power distance indexes on managerial practices in the local organizations as well as on transferability of the managerial practices of multinationals presented in the region onto the local workforce.
Journal: Journal of Business Economics and Management
Pages: 61-69
Issue: 2
Volume: 6
Year: 2005
X-DOI: 10.1080/16111699.2005.9636094
File-URL: http://hdl.handle.net/10.1080/16111699.2005.9636094
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Handle: RePEc:taf:jbemgt:v:6:y:2005:i:2:p:61-69
Template-Type: ReDIF-Article 1.0
Author-Name: Edmundas Zavadskas
Author-X-Name-First: Edmundas
Author-X-Name-Last: Zavadskas
Author-Name: Artūras Kaklauskas
Author-X-Name-First: Artūras
Author-X-Name-Last: Kaklauskas
Title: Working out a rational model of Lithuanian construction industry development
Abstract: The research aim was to develop a model for determining rational micro and macro‐level factors for the construction industry in Lithuania by undertaking a complex analysis of environment affecting it and to give recommendations on the increase of its competitive ability. In modelling and forecasting future perspectives and the main development trends of the Lithuanian construction industry, it is possible to be prepared for effective changes in environment. The analysis of construction industry in developed countries and Lithuania can allow identify areas where the situation in Lithuania is comparable, partly comparable with or quite different from the level attained by the above foreign countries. The data of this analysis can be used in identifying construction industry development trends in developed countries as well as providing some recommendations for Lithuania. Proposed model would be designed to give insights into the factors which affect the construction and which require effective management. In order to demonstrate the application of the above research to developing rational model of Lithuanian construction industry some recommendations for improving situation in Lithuanian construction are presented.
Journal: Journal of Business Economics and Management
Pages: 71-80
Issue: 2
Volume: 6
Year: 2005
X-DOI: 10.1080/16111699.2005.9636095
File-URL: http://hdl.handle.net/10.1080/16111699.2005.9636095
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Handle: RePEc:taf:jbemgt:v:6:y:2005:i:2:p:71-80
Template-Type: ReDIF-Article 1.0
Author-Name: Andreas Palm
Author-X-Name-First: Andreas
Author-X-Name-Last: Palm
Title: Corporate location policy in the age of globalization
Abstract: In today's economy it is very important how companies select locations for headquarters, production sites and sales offices. This paper places particular emphasis on the effects on corporate location policy resulting from a constantly proceeding globalization. Therefore the term globalization is defined first. Then, using a globally present company as an example the process of deciding on locations is illustrated. Finally, there is an outlook on future demands globalization will place on corporate location policy.
Journal: Journal of Business Economics and Management
Pages: 81-85
Issue: 2
Volume: 6
Year: 2005
X-DOI: 10.1080/16111699.2005.9636096
File-URL: http://hdl.handle.net/10.1080/16111699.2005.9636096
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Handle: RePEc:taf:jbemgt:v:6:y:2005:i:2:p:81-85
Template-Type: ReDIF-Article 1.0
Author-Name: Borisas Melnikas
Author-X-Name-First: Borisas
Author-X-Name-Last: Melnikas
Title: Creation of knowledge ‐ based economy in the European Union: The main typicalities and new ideas of clusterization
Abstract: Possibilities for the development of new forms of economic, social and technological headway designed to create and further improve economies based on knowledge are analyzed here. The main emphasis is put on national and regional economic specialization and creation of new networks of clusters in the situation of the development of the European Union. We have found that clusterization oriented towards the increase of efficiency of various national and regional economies is a critical precondition for successful creation of modern economy based on knowledge, both in the whole space of the European Union and particular countries. Another idea ‐ a concept of creation of regional and cross‐regional clusters and their networks also known as ,,economic oazes"‐ is suggested here. It is explained in the paper that in the economies based on knowledge development of clusters and their networks will soon become one of the core forms of economic and technological advancement.
Journal: Journal of Business Economics and Management
Pages: 87-100
Issue: 2
Volume: 6
Year: 2005
X-DOI: 10.1080/16111699.2005.9636097
File-URL: http://hdl.handle.net/10.1080/16111699.2005.9636097
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Handle: RePEc:taf:jbemgt:v:6:y:2005:i:2:p:87-100
Template-Type: ReDIF-Article 1.0
Author-Name: Vankevich Alena
Author-X-Name-First: Vankevich
Author-X-Name-Last: Alena
Title: Personnel strategy and their realization at the Belarusian enterprises
Abstract: In the article problems of the theory and practice of development of personnel strategy of the enterprises are reflected. The basic kinds of personnel strategy are opened, the forms of their realization, the international experience is investigated. The dialectics of personnel positions of the Belarus enterprises for 1991–2003 is investigated, influence of a labor market on the given processes is shown. Necessity of transition to strategy of socially responsible re‐structuring is proved. Theoretical bases and applied aspects of realization of strategy of socially responsible re‐structuring at the enterprises of Byelorussia are given.
Journal: Journal of Business Economics and Management
Pages: 101-112
Issue: 2
Volume: 6
Year: 2005
X-DOI: 10.1080/16111699.2005.9636098
File-URL: http://hdl.handle.net/10.1080/16111699.2005.9636098
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Handle: RePEc:taf:jbemgt:v:6:y:2005:i:2:p:101-112
Template-Type: ReDIF-Article 1.0
Author-Name: Vanda Gineviciene
Author-X-Name-First: Vanda
Author-X-Name-Last: Gineviciene
Author-Name: Manuela Tvaronaviciene
Author-X-Name-First: Manuela
Author-X-Name-Last: Tvaronaviciene
Title: Trends and level of development: View to new eu members
Abstract: The paper deals with evaluation of development level of new European Union members and 3 acceding counties. Authors elaborate existing systems of indicators and modern ranking methods used for indicated purpose. Presented analysis argues for superiority of statistical methods over qualitative ones in process of qualified evaluation of development level achieved by particular countries. New system comprising 12 indicators has been presented. The chosen set of indicators have emphasized three the most important dimensions, which provide stability of countries: economical, social and environmental. Evaluation of development tendencies during the last years of new the EU members and ascending countries has been done. Closer look at development level achieved by chosen countries comparing to that of EU‐15 has been taken.
Journal: Journal of Business Economics and Management
Pages: 113-121
Issue: 2
Volume: 6
Year: 2005
X-DOI: 10.1080/16111699.2005.9636099
File-URL: http://hdl.handle.net/10.1080/16111699.2005.9636099
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Handle: RePEc:taf:jbemgt:v:6:y:2005:i:2:p:113-121
Template-Type: ReDIF-Article 1.0
Author-Name: Monika Kondratiuk-Nierodzińska
Author-X-Name-First: Monika
Author-X-Name-Last: Kondratiuk-Nierodzińska
Title: Innovation capabilities in EU countries: have Central and Eastern European countries been catching up?
Abstract:
The paper answers two questions: which innovation capabilities most strongly differentiate CEECs and highly developed European economies and to what extent CEECs’ performance within each of the innovation capabilities has changed over a decade. The research method is based on construction of composite indicators describing national performance within five innovation capabilities in two periods: 1998–2000 and 2010–2012 as well as regression analysis in order to test the accuracy of the main findings. The study has allowed to arrive at a conclusion that CEECs have been able to catch up to highly developed European economies with respect to absorptive capacity related to the existence and use of technological infrastructure as well as participation in inward technology transfer in the form of FDI and capital goods imports. There is, however, a lingering performance gap in new knowledge and innovation creation capabilities and R&D effort. Continuation of this trend and lack of considerable improvement also in terms of absorptive capacity related to the quality of human resources might result in CEECs’ permanent inability to catch up to their highly developed European counterparts.
Journal: Journal of Business Economics and Management
Pages: 765-779
Issue: 5
Volume: 17
Year: 2016
Month: 9
X-DOI: 10.3846/16111699.2015.1114016
File-URL: http://hdl.handle.net/10.3846/16111699.2015.1114016
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Handle: RePEc:taf:jbemgt:v:17:y:2016:i:5:p:765-779
Template-Type: ReDIF-Article 1.0
Author-Name: Bee Wah Tan
Author-X-Name-First: Bee Wah
Author-X-Name-Last: Tan
Author-Name: Soo Khoon Goh
Author-X-Name-First: Soo Khoon
Author-X-Name-Last: Goh
Author-Name: Koi Nyen Wong
Author-X-Name-First: Koi Nyen
Author-X-Name-Last: Wong
Title: The effects of inward and outward FDI on domestic investment: evidence using panel data of ASEAN–8 countries
Abstract:
In view of the changing FDI landscape, in particular, a drastic increase in out-ward FDI from developing and transition economies in recent years, this paper attempts to explore the possible impacts of outward FDI other than domestic savings and inward foreign direct investment on domestic investment. The major contribution of this study is that it is the first effort to empirically analyse the short- and long-run effects of the outward FDI using panel data of ASEAN–8 countries, which could provide useful policy implications for governments at both regional and international levels to achieve inclusive growth and sustainable development. Using pool mean group analysis, this paper finds that the gross domestic saving, inward FDI and outward FDI have a positive long-run impact on the gross domestic investment even though their long-run estimates are inelastic. The empirical study reveals that both inward FDI and outward FDI, to some extent, are complementary to the gross domestic investment.
Journal: Journal of Business Economics and Management
Pages: 717-733
Issue: 5
Volume: 17
Year: 2016
Month: 9
X-DOI: 10.3846/16111699.2015.1114515
File-URL: http://hdl.handle.net/10.3846/16111699.2015.1114515
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Handle: RePEc:taf:jbemgt:v:17:y:2016:i:5:p:717-733
Template-Type: ReDIF-Article 1.0
Author-Name: Wei-Lun Chang
Author-X-Name-First: Wei-Lun
Author-X-Name-Last: Chang
Author-Name: Chia-Ling Chiu
Author-X-Name-First: Chia-Ling
Author-X-Name-Last: Chiu
Title: Coopetition under alliance? Applying awareness-motivation-capability competitive dynamics perspective
Abstract:
Airline companies join airline alliances to cope with the high level of competition in the airline industry. However, pressure within an alliance is substantial. This study used competitor mapping and awareness-motivation-capability competitive dynamics to analyze airline alliances. The results revealed that alliances compete to recruit airline companies, and the power differences in the alliances are considerable; only a few of the airline companies within the alliance possess power. In addition, we interviewed 2 senior managers to confirm the results of the analysis. A detailed content analysis was performed to test each hypothesis. The findings revealed that companies with low market commonality and high resource similarity can cooperate through resource allocation. We also discovered that the main competitive action was derived from disallowing local airline companies to join an alliance. Leading companies in the alliance generally negotiated for the entire alliance indirectly. This research suggests that companies cooperate not only to control cost but also to increase service quality.
Journal: Journal of Business Economics and Management
Pages: 701-716
Issue: 5
Volume: 17
Year: 2016
Month: 9
X-DOI: 10.3846/16111699.2016.1181670
File-URL: http://hdl.handle.net/10.3846/16111699.2016.1181670
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Handle: RePEc:taf:jbemgt:v:17:y:2016:i:5:p:701-716
Template-Type: ReDIF-Article 1.0
Author-Name: Biao Luo
Author-X-Name-First: Biao
Author-X-Name-Last: Luo
Author-Name: Changyue Luo
Author-X-Name-First: Changyue
Author-X-Name-Last: Luo
Author-Name: Jiajia Ge
Author-X-Name-First: Jiajia
Author-X-Name-Last: Ge
Author-Name: Dongli Zhang
Author-X-Name-First: Dongli
Author-X-Name-Last: Zhang
Title: The moderating effects of slack on the relationship between ambidextrous strategy and performance: evidence from high-tech firms in China
Abstract:
The purpose of this study is to examine the impacts of ambidexterity of exploration/exploitation on long-term performance and the moderating effects of slack resources. The methodology adopted is panel data analysis of a sample dataset of 125 high technology firms in China. The finding of this study shows that a moderating role of organizational slack between ambidexterity and long-term performance is strongly supported. The research and practical implications of this paper are: (1) Exploration and exploitation can be mutually enhancing instead of being fundamentally contradictory; (2) Slack resources moderate the relationship between ambidexterity and performance. The originality and value of the paper is that it is one of the earliest studies that empirically examine the moderating effects of slack resources on ambidexterity-performance relationship.
Journal: Journal of Business Economics and Management
Pages: 734-748
Issue: 5
Volume: 17
Year: 2016
Month: 9
X-DOI: 10.3846/16111699.2016.1193043
File-URL: http://hdl.handle.net/10.3846/16111699.2016.1193043
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Handle: RePEc:taf:jbemgt:v:17:y:2016:i:5:p:734-748
Template-Type: ReDIF-Article 1.0
Author-Name: Grigoris Giannarakis
Author-X-Name-First: Grigoris
Author-X-Name-Last: Giannarakis
Author-Name: Eleni Zafeiriou
Author-X-Name-First: Eleni
Author-X-Name-Last: Zafeiriou
Author-Name: Nikolaos Sariannidis
Author-X-Name-First: Nikolaos
Author-X-Name-Last: Sariannidis
Author-Name: Kyriaki Efthalitsidou
Author-X-Name-First: Kyriaki
Author-X-Name-Last: Efthalitsidou
Title: Determinants of dissemination of environmental information: an empirical survey
Abstract:
The major objective of the present paper is to identify the factors that influence the dissemination of environmental information. In particular, analyst stock recommendation, country level risk, corporate value and environmental performance are surveyed as determinants of the environmental dissemination level. The survey was based on a sample of 92 multinational firms for the period 2009–2013, longer than that used in most past works. The methodology employed on our data is the panel data analysis with fixed effects. As proxies, for the dissemination level of environmental information, two different environmental disclosure indexes are used the Environmental Disclosure Score and Carbon Disclosure Leadership Index. According to our findings, the environmental performance in terms of Emission Reduction Initiatives and the country’s risk premium affects in a positive way the dissemination of environmental disclosures while the results regarding the stock analyst recommendation are controversial. Another important finding is that the firm’s value is validated as an insignificant factor for the dissemination level of environmental information. The aforementioned results provide the corporate managers with a tool to attract environmental friendly investors. The novelty on the present manuscript stands on the use of proxies for the environmental performance; namely the first one is based on outcome – objective while the second one refers to the corporate intention, elements that enrich the existing literature in the field of environmental behavior and dissemination of the environmental information of a firm.
Journal: Journal of Business Economics and Management
Pages: 749-764
Issue: 5
Volume: 17
Year: 2016
Month: 9
X-DOI: 10.3846/16111699.2016.1195771
File-URL: http://hdl.handle.net/10.3846/16111699.2016.1195771
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Handle: RePEc:taf:jbemgt:v:17:y:2016:i:5:p:749-764
Template-Type: ReDIF-Article 1.0
Author-Name: Ebru Turanoglu Bekar
Author-X-Name-First: Ebru
Author-X-Name-Last: Turanoglu Bekar
Author-Name: Mehmet Cakmakci
Author-X-Name-First: Mehmet
Author-X-Name-Last: Cakmakci
Author-Name: Cengiz Kahraman
Author-X-Name-First: Cengiz
Author-X-Name-Last: Kahraman
Title: Fuzzy COPRAS method for performance measurement in total productive maintenance: a comparative analysis
Abstract:
Modern manufacturing firms should be supported by effective maintenance to become successful in their operations. One of the approaches for improving the performance of maintenance activities is to implement a total productive maintenance (TPM) strategy. Overall equipment effectiveness (OEE) is the key measure of TPM. According to the results of the literature review, the performance elements measured by the OEE tool are not sufficient to describe the effectiveness of TPM implementation. Hence, we aim at developing and evaluating new performance measures oriented towards the quantification of TPM implementation effectiveness under fuzzy environment. For the evaluation of each performance measure, at first, the nominal group technique has been used. Then to determine whether these performance measures are statistically significant, conjoint analysis based experimental design has been applied. In the second step, COmplex PRo-portional ASsessment of alternatives with Grey relations (COPRAS-G) and the fuzzy COPRAS method has been developed to evaluate these performance measures in TPM. Proposed fuzzy COPRAS method gives the reassuring results of ranking newly developed performance measures in TPM.
Journal: Journal of Business Economics and Management
Pages: 663-684
Issue: 5
Volume: 17
Year: 2016
Month: 9
X-DOI: 10.3846/16111699.2016.1202314
File-URL: http://hdl.handle.net/10.3846/16111699.2016.1202314
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Handle: RePEc:taf:jbemgt:v:17:y:2016:i:5:p:663-684
Template-Type: ReDIF-Article 1.0
Author-Name: Vojko Potocan
Author-X-Name-First: Vojko
Author-X-Name-Last: Potocan
Author-Name: Zlatko Nedelko
Author-X-Name-First: Zlatko
Author-X-Name-Last: Nedelko
Author-Name: Valentina Peleckienė
Author-X-Name-First: Valentina
Author-X-Name-Last: Peleckienė
Author-Name: Kęstutis Peleckis
Author-X-Name-First: Kęstutis
Author-X-Name-Last: Peleckis
Title: Values, environmental concern and economic concern as predictors of enterprise environmental responsiveness
Abstract:
This article reports on examination of the relationships between manager’s personal values, their attitudes toward concern for environment, concern for economic results and enterprise environmental responsiveness. Schwartz’s list of values and statements about the environmental and economic concerns is used. We analyzed 1179 managers’ answers from Slovenian enterprises with structural equation modeling. Manager’s concern results: (a) for environment positively and significantly and (b) for economics negatively and insignificantly, in influence on enterprise environmental responsiveness. Two value dimensions significantly influence enterprise environmental responsiveness and one negatively. Environmental concern mediates the effect of three, and concern for economic results mediates the effect of two value dimensions on enterprise’s environmental responsiveness. Generalization can be limited due to the focus on one Central Europe country; future examination is needed. Findings are useful for the development of enterprises’ pro-environmental behavior and development of enterprise value system. A model of enterprise’s environmental responsiveness is developed.
Journal: Journal of Business Economics and Management
Pages: 685-700
Issue: 5
Volume: 17
Year: 2016
Month: 9
X-DOI: 10.3846/16111699.2016.1202315
File-URL: http://hdl.handle.net/10.3846/16111699.2016.1202315
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Handle: RePEc:taf:jbemgt:v:17:y:2016:i:5:p:685-700
Template-Type: ReDIF-Article 1.0
Author-Name: Marta Fernández-Olmos
Author-X-Name-First: Marta
Author-X-Name-Last: Fernández-Olmos
Author-Name: Natalia Dejo-Oricain
Author-X-Name-First: Natalia
Author-X-Name-Last: Dejo-Oricain
Author-Name: Jorge Rosell-Martínez
Author-X-Name-First: Jorge
Author-X-Name-Last: Rosell-Martínez
Title: Product differentiation strategy and vertical integration: an application to the DOC Rioja wine industry
Abstract:
This study evaluates the importance of product differentiation as a determinant of vertical integration in firms. The proposed model also controls for known determinants of integration, such as transaction costs and firm-level capabilities. By identifying transaction-, firm- and strategy-level determinants, we derive testable predictions about the vertical integration decision. To test these predictions we analyze the Rioja wine industry, using a representative sample of 187 firms. Our paper concludes that reaching judicious vertical integration decisions requires a thorough analysis of some very diverse aspects, especially those related to mitigating opportunism, dealing with unforeseen contingencies and product differentiation.
Journal: Journal of Business Economics and Management
Pages: 796-809
Issue: 5
Volume: 17
Year: 2016
Month: 9
X-DOI: 10.3846/16111699.2013.815130
File-URL: http://hdl.handle.net/10.3846/16111699.2013.815130
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Handle: RePEc:taf:jbemgt:v:17:y:2016:i:5:p:796-809
Template-Type: ReDIF-Article 1.0
Author-Name: Hana Šuster Erjavec
Author-X-Name-First: Hana Šuster
Author-X-Name-Last: Erjavec
Author-Name: Tanja Dmitrović
Author-X-Name-First: Tanja
Author-X-Name-Last: Dmitrović
Author-Name: Petra Povalej Bržan
Author-X-Name-First: Petra
Author-X-Name-Last: Povalej Bržan
Title: Drivers of customer satisfaction and loyalty in service industries
Abstract:
The relationship between customer satisfaction, customer loyalty and their antecedents, service output quality, quality of staff, corporate image, and price perception, is examined in the context of three service industries: use of the highway infrastructure, mobile telephone services, and hairdressing services. The research model was empirically evaluated for a large sample of respondents from a Central European country, using structural equation modelling. The results indicate that the four antecedents affect customer loyalty, and customer satisfaction acts as a mediator in all three service industries. However, the strength of the relationship between the constructs varies markedly across the industries, implying that competitive environment importantly determines the elements of service offering that lead to satisfaction and loyalty in a particular industry. The research findings contribute to a better understanding of which behavioural mechanisms and factors are a viable basis for increasing customer retention in a specific market structure. Managerial implications are discussed, and policy recommendations are offered.
Journal: Journal of Business Economics and Management
Pages: 810-823
Issue: 5
Volume: 17
Year: 2016
Month: 9
X-DOI: 10.3846/16111699.2013.860614
File-URL: http://hdl.handle.net/10.3846/16111699.2013.860614
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Handle: RePEc:taf:jbemgt:v:17:y:2016:i:5:p:810-823
Template-Type: ReDIF-Article 1.0
Author-Name: Indrė Pikturnienė
Author-X-Name-First: Indrė
Author-X-Name-Last: Pikturnienė
Author-Name: Greta Bäumle
Author-X-Name-First: Greta
Author-X-Name-Last: Bäumle
Title: Predictors of recycling behaviour intentions among urban Lithuanian inhabitants
Abstract:
In countries where no incentives for recycling prevail, individual recycling is grounded on citizens’ consciousness and everyday efforts. Governmental actions can be effective only after understanding factors for recycling behaviour, and fostering them. Since the primary target group of recycling in Lithuania are urban inhabitants, it is important to determine what sub-segments of this group are the most likely to become innovators and early adopters in the field, and to identify what are the most important predictors of their recycling intentions. The aim of the study was to determine how values affect attitude elements towards recycling and what attitude elements and (or) recent recycling behaviour are the most important predictors of intentions to recycle; and to investigate what demographic groups among Lithuanian urban inhabitants are the most likely to be engaged in recycling. Survey using an instrument that allowed determining values, attitudes, subjective norm, perceived behavioural control, actual level of recycling, and link them to the intentions to recycle was performed among urban Lithuanian inhabitants. Results suggest two main strategies for social change managers: informing consumers to increase favourable attitudes towards recycling, and inducing recycling habit. The efforts should be primarily targeted towards educated people over 35, irrespective of gender.
Journal: Journal of Business Economics and Management
Pages: 780-795
Issue: 5
Volume: 17
Year: 2016
Month: 9
X-DOI: 10.3846/16111699.2014.951957
File-URL: http://hdl.handle.net/10.3846/16111699.2014.951957
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Handle: RePEc:taf:jbemgt:v:17:y:2016:i:5:p:780-795
Template-Type: ReDIF-Article 1.0
Author-Name: The Editors
Title: Editorial board
Journal:
Pages: ebi-ebii
Issue: 3
Volume: 11
Year: 2010
X-DOI: 10.1080/16111699.2010.9668406
File-URL: http://hdl.handle.net/10.1080/16111699.2010.9668406
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Handle: RePEc:taf:jbemgt:v:11:y:2010:i:3:p:ebi-ebii
Template-Type: ReDIF-Article 1.0
Author-Name: The Editors
Title: Editorial board
Journal:
Pages: ebi-ebi
Issue: 3
Volume: 6
Year: 2005
X-DOI: 10.1080/16111699.2005.9636100
File-URL: http://hdl.handle.net/10.1080/16111699.2005.9636100
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Handle: RePEc:taf:jbemgt:v:6:y:2005:i:3:p:ebi-ebi
Template-Type: ReDIF-Article 1.0
Author-Name: Aluko Tajudeen
Author-X-Name-First: Aluko
Author-X-Name-Last: Tajudeen
Author-Name: Olaleye Abel
Author-X-Name-First: Olaleye
Author-X-Name-Last: Abel
Title: Unitization and securitization of property investment: Implications for future valuation
Abstract: Property investments are now mobile, being tradable securities or listed units (vehicles) comparable to stocks/ shares in the financial market. Hence, the need for valuation to be a counterpart to investment and security analysis. But, current valuation practice in the country has not placed property in a wider economy and the analytical techniques of other markets. The paper therefore demonstrates how current valuation techniques in the property market can meet the needs of investors for listed or tradeable property assets in the country. It also examines the implications on the valuation profession as well as the attendant consequences that are likely to be associated with the quest for change. The study utilizes data from both the Nigerian property and capital markets using simple descriptive, non‐statistical, techniques.
Journal: Journal of Business Economics and Management
Pages: 125-134
Issue: 3
Volume: 6
Year: 2005
X-DOI: 10.1080/16111699.2005.9636101
File-URL: http://hdl.handle.net/10.1080/16111699.2005.9636101
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Handle: RePEc:taf:jbemgt:v:6:y:2005:i:3:p:125-134
Template-Type: ReDIF-Article 1.0
Author-Name: Edmundas Zavadskas
Author-X-Name-First: Edmundas
Author-X-Name-Last: Zavadskas
Author-Name: Romualdas Ginevičius
Author-X-Name-First: Romualdas
Author-X-Name-Last: Ginevičius
Author-Name: Artūras Kaklauskas
Author-X-Name-First: Artūras
Author-X-Name-Last: Kaklauskas
Author-Name: Audrius Banaitis
Author-X-Name-First: Audrius
Author-X-Name-Last: Banaitis
Title: Analysis and modeling of the Lithuanian real estate sector
Abstract: The model for an efficient real estate sector as suggested by this research is based on the presumption that the efficiency of a real estate sector depends on many macro and micro level variables. The presence of specific macro and micro level variable factors right away imposes objective limitations for efficient activities within the real estate sector. The real estate sector, in the presence of these objective limitations, tries to perform its functions within their bounds with the utmost efficiency. The research aimed at producing a model of a rational real estate sector by undertaking a complex analysis of micro and macro environment factors that affect it and to provide recommendations that would increase its competitive ability. In order to demonstrate the application of the above research by developing a model for an efficient real estate sector, a selection of rational housing investment instruments and lenders will be considered in this paper as a sample.
Journal: Journal of Business Economics and Management
Pages: 135-143
Issue: 3
Volume: 6
Year: 2005
X-DOI: 10.1080/16111699.2005.9636102
File-URL: http://hdl.handle.net/10.1080/16111699.2005.9636102
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Handle: RePEc:taf:jbemgt:v:6:y:2005:i:3:p:135-143
Template-Type: ReDIF-Article 1.0
Author-Name: Yossi Hadad
Author-X-Name-First: Yossi
Author-X-Name-Last: Hadad
Author-Name: Lea Friedman
Author-X-Name-First: Lea
Author-X-Name-Last: Friedman
Author-Name: Aviad Israeli
Author-X-Name-First: Aviad
Author-X-Name-Last: Israeli
Title: Evaluating hotel advertisements efficiency using data envelopment analysis
Abstract: This paper introduces popular methods for ranking alternatives with multiple inputs and multiple outputs in the DEA context. The ranking methods are based on different criteria. Consequently, the ranking of the alternatives are not always the same, particularly as regards the best alternative. The decision maker, however, must make an absolute decision as to the most favored alternative. This study proposes a new ranking method, which is based on the average of the highly correlated ranking method. The new method is applied on a case study of ranking hotels in Israel.
Journal: Journal of Business Economics and Management
Pages: 145-153
Issue: 3
Volume: 6
Year: 2005
X-DOI: 10.1080/16111699.2005.9636103
File-URL: http://hdl.handle.net/10.1080/16111699.2005.9636103
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Handle: RePEc:taf:jbemgt:v:6:y:2005:i:3:p:145-153
Template-Type: ReDIF-Article 1.0
Author-Name: Borisas Melnikas
Author-X-Name-First: Borisas
Author-X-Name-Last: Melnikas
Title: Management specialists in the knowledge based society: Life‐long learning oriented human resourse development
Abstract: The publication presents an analysis of management specialist development problems arising in today's situation. Special attention is paid to management specialist development in the conditions of globalization, knowledge society development, European integration and the European Union enlargement. The publication provides an in‐depth analysis of management specialists development principles and practical experiences in the area of management specialist development. The absence of well‐founded general principles of management specialist development as well as special principles of business and public management specialist development remains an important research problem. The absence of integrated and individualized university studies and of the practical realization of the life‐long learning principle in the area of management specialist development remains an important practical problem. The aim of the publication ‐ to formulate and ground the main principles of management specialist development as well as to describe an original management specialist development model based on the implementation of the idea of life ‐long learning. The research methodology is based on the concept of triangulation, combining the descriptive analysis, surveys and expert evaluation. The scientific novelty, theoretical and practical results are defined by the following: The following groups of principles are singled out: a) general development principles, applicable to specialists of all fields, including that of management; b) special principles of management specialist development, applicable exceptionally to management specialist development; c) specific principles of business management specialist development; d) specific principles of public management specialist development, applicable exceptionally to the development of specialists working in the public sector and public management. This model provides for combination of diverse forms of learning, university studies, independent researches, self‐development and in‐service training; long‐term individual programmers are designed to help people acquire different qualifications and develop their competences through studies in universities and other educational institutions and through participating in practical works, workshops and seminars. Introduction of long‐term individualized development programmers facilitates development of unique managerial skills and prepares every specialist for a unique position, a unique professional activity and individualized functions. The management specialist development model based on the implementation of the idea of life ‐ long learning as well as integrated and individualized university and non ‐ university studies is described. An important element of management specialist development process is development of human creativity. It also depicts specific characteristics of creativity and highlights new opportunities and possibilities for the development of the creative potential.
Journal: Journal of Business Economics and Management
Pages: 155-170
Issue: 3
Volume: 6
Year: 2005
X-DOI: 10.1080/16111699.2005.9636104
File-URL: http://hdl.handle.net/10.1080/16111699.2005.9636104
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Handle: RePEc:taf:jbemgt:v:6:y:2005:i:3:p:155-170
Template-Type: ReDIF-Article 1.0
Author-Name: Zuzana Dvoráková
Author-X-Name-First: Zuzana
Author-X-Name-Last: Dvoráková
Title: Encouraging ethical behaviour in public administration by human resource management
Abstract: The public administration reform in the Czech Republic set off with a reform of the territorial public administration at the end of the 90s. The reform established a joint public administration model in the territories, power decentralization, and de‐concentration of operative functions from ministries to regions and municipalities. The reform outcomes largely depend on the quality of human resources in public administration, their ethical values, and status in the society. The public sector always needs to solve a traditional ethics dilemma whether public officials serve citizen or politician purposes. The paper is aimed at ethical values in the Czech public administration, ethics dilemmas in the public sector, and human resource management in territorial self‐governments supporting ethical behaviour. An abnormal situation comes into being in the Czech Republic as public officials incline to serving neither citizens nor politicians. Some municipal authorities strive to improve public administration ethics by designing and implementing new HR practices, codes of ethics and anticorruption programmes.
Journal: Journal of Business Economics and Management
Pages: 171-178
Issue: 3
Volume: 6
Year: 2005
X-DOI: 10.1080/16111699.2005.9636105
File-URL: http://hdl.handle.net/10.1080/16111699.2005.9636105
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Handle: RePEc:taf:jbemgt:v:6:y:2005:i:3:p:171-178
Template-Type: ReDIF-Article 1.0
Author-Name: Romualdas Ginevičius
Author-X-Name-First: Romualdas
Author-X-Name-Last: Ginevičius
Author-Name: Manuela Tvaronavičiene
Author-X-Name-First: Manuela
Author-X-Name-Last: Tvaronavičiene
Title: Inward and outward FDI in Lithuania and Estonia: Review of patterns in neighboring countries
Abstract: The paper aims to trace how important state policies, cultural differences and neighborhood of developed countries are as driving forces attracting foreign capital inflows. Authors overview the inward and outward foreign direct investment (FDI) tendencies in Lithuania and Estonia, reveal similarities and differences of the neighbor countries. Authors distinguish and discuss a role of privatization policy in attracting foreign direct investments. The assumption about different inward FDI sources caused by different privatization strategies adopted by considered countries is to be elaborated. Another focus of presented paper is outward FDI structure in terms of capital origin, and differences of its in scale in two Baltic countries ‐ Lithuania and Estonia. Phenomenon of Scandinavian FDI channeling through Estonia is to be traced and interpreted.
Journal: Journal of Business Economics and Management
Pages: 179-188
Issue: 3
Volume: 6
Year: 2005
X-DOI: 10.1080/16111699.2005.9636106
File-URL: http://hdl.handle.net/10.1080/16111699.2005.9636106
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Handle: RePEc:taf:jbemgt:v:6:y:2005:i:3:p:179-188
Template-Type: ReDIF-Article 1.0
Author-Name: Guillermo Carrasco
Author-X-Name-First: Guillermo
Author-X-Name-Last: Carrasco
Author-Name: Adrianela Angeles
Author-X-Name-First: Adrianela
Author-X-Name-Last: Angeles
Author-Name: Edmundo Marroquin-Tovar
Author-X-Name-First: Edmundo
Author-X-Name-Last: Marroquin-Tovar
Title: Inflexibility in organizational decision-making
Abstract:
The main objective of this investigation is to validate a measurement model that identifies the dimensions of inflexibility in organizational decision-making. For this purpose a Confirmatory Factor Analysis was conducted to assess how well the measured variables represent the constructs, which according to several authors of the literature, have been identified as limitations to organizational decision-making. In this study they were classified in three dimensions: limitations on Strategic Management, limitations on Human Resource Management and limitations on Financial Management.The analysis is based on data collected from 229 Mexican companies. The results show that the proposed model is a good measure of inflexibility in decision-making of these organizations. In addition, it was identified that the variable that best predicts the limitations in strategic management is the lack of clear objectives. Furthermore, it was found that the strongest predictor of limitations on human resources management is the presence of conflicts between employees; and regarding limitations on financial management, the best predictor is the falling profits of the organization. It is expected that this model will help organizations to identify and eliminate these limitations that constraint the organizational decision-making, facilitating their capability to adapt to the changing environment.
Journal: Journal of Business Economics and Management
Pages: 564-579
Issue: 4
Volume: 17
Year: 2016
Month: 7
X-DOI: 10.3846/16111699.2015.1101397
File-URL: http://hdl.handle.net/10.3846/16111699.2015.1101397
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Handle: RePEc:taf:jbemgt:v:17:y:2016:i:4:p:564-579
Template-Type: ReDIF-Article 1.0
Author-Name: Mohammad Mazharul Islam
Author-X-Name-First: Mohammad Mazharul
Author-X-Name-Last: Islam
Author-Name: Essam Habes
Author-X-Name-First: Essam
Author-X-Name-Last: Habes
Author-Name: Azharul Karim
Author-X-Name-First: Azharul
Author-X-Name-Last: Karim
Author-Name: Syed Omar bin Syed Agil
Author-X-Name-First: Syed Omar bin
Author-X-Name-Last: Syed Agil
Title: Quality certification and company performance – the newly developed country experience
Abstract:
This study investigates the impacts of ISO 9001:2008 certification on companies in Malaysia. Data were collected from CEOs and managers through a questionnaire survey. A multivariate analysis and SPSS macro were used as statistical techniques to assess the effects of ISO 9001 certification. Results of the study indicate that ISO 9001 certified companies were having significantly greater benefits and financial performance compared to non-certified companies. However, no significant direct relationship between ISO 9001 certification and company's financial performance was found. A further investigation revealed that financial performance is actually directly related to quality and local and international business performance, which are significantly influenced by ISO 9001 certification. Therefore quality and business performances are involved in the mediational process between the financial performance of companies and ISO 9001 certification. The novelty of this research lies in the establishment of, for the first time, high level statistical relationship between ISO 9001 certification, its mediating factors and financial performance of companies.
Journal: Journal of Business Economics and Management
Pages: 628-644
Issue: 4
Volume: 17
Year: 2016
Month: 7
X-DOI: 10.3846/16111699.2015.1110712
File-URL: http://hdl.handle.net/10.3846/16111699.2015.1110712
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Handle: RePEc:taf:jbemgt:v:17:y:2016:i:4:p:628-644
Template-Type: ReDIF-Article 1.0
Author-Name: Dmitri Knatko
Author-X-Name-First: Dmitri
Author-X-Name-Last: Knatko
Author-Name: Galina Shirokova
Author-X-Name-First: Galina
Author-X-Name-Last: Shirokova
Author-Name: Karina Bogatyreva
Author-X-Name-First: Karina
Author-X-Name-Last: Bogatyreva
Title: Industry choice by young entrepreneurs in different country settings: the role of human and financial capital
Abstract:
Entrepreneurial entry happens as a consequence of a general choice of an individual to become an entrepreneur. While most entrepreneurial entry studies rarely consider an industry choice to be an aspect of entrepreneurial decision making process, we address this issue taking into account individual, industrial, and country specific attributes. Using data from the Global University Entrepreneurial Spirit Students’ Survey (2013–2014) on young nascent entrepreneurs and extending it with objective indicators derived from World Bank, Global Entrepreneurship Monitor, and International Property Rights Index datasets, we investigate how various factors impact the choice between knowledge-intensive and capital-intensive industries. Drawing on the RBV and contingency approach, we link an industry choice to the level of human capital development and access to financial capital testing for possible country-specific moderation effects. Our study contributes to entrepreneurial entry research stream extending the understanding of entrepreneurial entry decision making nuances related to individual access to resources and both industryand country-level contingencies.
Journal: Journal of Business Economics and Management
Pages: 613-627
Issue: 4
Volume: 17
Year: 2016
Month: 7
X-DOI: 10.3846/16111699.2015.1113199
File-URL: http://hdl.handle.net/10.3846/16111699.2015.1113199
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Handle: RePEc:taf:jbemgt:v:17:y:2016:i:4:p:613-627
Template-Type: ReDIF-Article 1.0
Author-Name: Arash Shahryari Nia
Author-X-Name-First: Arash
Author-X-Name-Last: Shahryari Nia
Author-Name: Laya Olfat
Author-X-Name-First: Laya
Author-X-Name-Last: Olfat
Author-Name: Ahmad Esmaeili
Author-X-Name-First: Ahmad
Author-X-Name-Last: Esmaeili
Author-Name: Reza Rostamzadeh
Author-X-Name-First: Reza
Author-X-Name-Last: Rostamzadeh
Author-Name: Jurgita Antuchevičienė
Author-X-Name-First: Jurgita
Author-X-Name-Last: Antuchevičienė
Title: Using fuzzy Choquet Integral operator for supplier selection with environmental considerations
Abstract:
The increasing importance of considering environmental issues as a part of the corporate social responsibility, which has environmental and social impacts as well as affects the image and competitiveness of a firm, has encouraged companies to revise their major processes of supply chain management (SCM). Since the performance of a company heavily relies on its suppliers, it is of vital importance to incorporate environmental criteria into supplier selection problem to satisfy both conventional and environmental criteria, which have only been considered by a limited number of studies. Therefore, following a brief review of green supply chain management (GSCM) and sustainable supply chain management (SSCM) concepts and investigation of supplier selection approaches, this study after focuses on a modified Delphi method that has been applied to determine supplier selection criteria. Also, the intuitionistic fuzzy value (IFV) and interval value intuitionistic fuzzy (IVIF) have been utilised for supplier evaluation regarding the subjective nature and uncertainty of judgment. By using the Choquet Integral operator and fuzzy measures, the best supplier has been selected, and the comparison between IFV and IVIF has been made. This methodology has been applied to a manufacturing company to assess the applicability of the proposed methodology. The proposed methodology can be used for real world problems that contain fuzziness or interacting decision criteria. Moreover, due to a high level of expert involvement in the decision-making process, we claimed that the knowledge of experts has been utilised constructively.
Journal: Journal of Business Economics and Management
Pages: 503-526
Issue: 4
Volume: 17
Year: 2016
Month: 7
X-DOI: 10.3846/16111699.2016.1194315
File-URL: http://hdl.handle.net/10.3846/16111699.2016.1194315
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Handle: RePEc:taf:jbemgt:v:17:y:2016:i:4:p:503-526
Template-Type: ReDIF-Article 1.0
Author-Name: Guiwu Wei
Author-X-Name-First: Guiwu
Author-X-Name-Last: Wei
Title: Picture fuzzy cross-entropy for multiple attribute decision making problems
Abstract:
In this paper, we investigate the multiple attribute decision making problems with picture fuzzy information. The advantage of picture fuzzy set is easily reflecting the ambiguous nature of subjective judgments because the picture fuzzy sets are suitable for capturing imprecise, uncertain, and inconsistent information in the multiple attribute decision making analysis. Thus, the cross entropy of picture fuzzy sets, called picture fuzzy cross entropy, is proposed as an extension of the cross entropy of fuzzy sets. Then, a multiple attribute decision making method based on the proposed picture fuzzy cross entropy is established in which attribute values for alternatives are picture fuzzy numbers. In decision making process, we utilize the picture fuzzy weighted cross entropy between the ideal alternative and an alternative to rank the alternatives corresponding to the cross entropy values and to select the most desirable one(s). Finally, a practical example for enterprise resource planning system selection is given to verify the developed approach and to demonstrate its practicality and effectiveness.
Journal: Journal of Business Economics and Management
Pages: 491-502
Issue: 4
Volume: 17
Year: 2016
Month: 7
X-DOI: 10.3846/16111699.2016.1197147
File-URL: http://hdl.handle.net/10.3846/16111699.2016.1197147
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Handle: RePEc:taf:jbemgt:v:17:y:2016:i:4:p:491-502
Template-Type: ReDIF-Article 1.0
Author-Name: Chia-Lin Lee
Author-X-Name-First: Chia-Lin
Author-X-Name-Last: Lee
Author-Name: Reinhold Decker
Author-X-Name-First: Reinhold
Author-X-Name-Last: Decker
Title: Co-branding partner selection: The importance of belief revision
Abstract:
This paper applies the stereotype change theory to help bridge a major literature gap on co-branding partner selection: why both identical and highly different brand pairs often fail. We argue that, given that a primary goal of establishing a co-branding alliance is to positively revise consumers’ beliefs about important attributes of the allying brands, the case of no belief-revision can lead to a failure of the alliance. We show that both an identical and a highly incongruent partnership in terms of attribute-level difference can fail due to the lack of belief-revision. We report that a moderately incongruent brand pair is a promising decision on co-branding partner selection. In doing so, our research contributes to the explanation of why the two “extreme” types of co-branding alliances may fail from the perspective of consumer evaluation. For brand managers, we offer a normative guideline for co-branding partner selection.
Journal: Journal of Business Economics and Management
Pages: 546-563
Issue: 4
Volume: 17
Year: 2016
Month: 7
X-DOI: 10.3846/16111699.2016.1197848
File-URL: http://hdl.handle.net/10.3846/16111699.2016.1197848
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Handle: RePEc:taf:jbemgt:v:17:y:2016:i:4:p:546-563
Template-Type: ReDIF-Article 1.0
Author-Name: Hirotsugu Sakai
Author-X-Name-First: Hirotsugu
Author-X-Name-Last: Sakai
Title: Why have R&D-intensive industries in Japan experienced a recent decline in performance? Evidence from panel data of listed firms in Japanese R&D-intensive industries
Abstract:
Previous studies show that the rate of return on research and development (R&D) capital is high. However, R&D-intensive industries in Japan have recently experienced a decline in performance. This study estimates the rate of return on R&D capital and physical capital as well as total factor productivity (TFP) to solve this puzzle. The rate of return is properly estimated applying the methods, which deal with simultaneity bias issues. After Japan entered the “lost decade”, the rate of return on R&D capital dropped significantly, while the rate on physical capital did not. This trend cannot be found by the methods without considering the issues, typically used in previous studies. The slowdown of TFP growth occurs coincidentally with a declining rate of return on R&D capital, which suggests the importance of innovations that enable effective use of R&D capital. Considering the trends, the declining rate of return on R&D capital along with the slowdown of TFP growth are the main causes of the low performance of recent R&D-intensive industries. The results of this paper also offer suggestions on economic policies and growth strategies.
Journal: Journal of Business Economics and Management
Pages: 527-545
Issue: 4
Volume: 17
Year: 2016
Month: 7
X-DOI: 10.3846/16111699.2016.1200998
File-URL: http://hdl.handle.net/10.3846/16111699.2016.1200998
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Handle: RePEc:taf:jbemgt:v:17:y:2016:i:4:p:527-545
Template-Type: ReDIF-Article 1.0
Author-Name: Marek Szarucki
Author-X-Name-First: Marek
Author-X-Name-Last: Szarucki
Author-Name: Jan Brzozowski
Author-X-Name-First: Jan
Author-X-Name-Last: Brzozowski
Author-Name: Jelena Stankevičienė
Author-X-Name-First: Jelena
Author-X-Name-Last: Stankevičienė
Title: Determinants of self-employment among Polish and Romanian immigrants in Germany
Abstract:
This empirical study investigates the determinants of self-employment propensity of Polish and Romanian immigrants in Germany. The German economy is an important object of analysis, as it is the most important destination for international migrants in the European Union. In the paper, we use the recently collected M sample of the German Socio-Economic Panel to examine which personal, country of birth-specific socio-economic and cultural factors influence the self-employment propensity of immigrants. The results of binominal logit regression show that the Central European migrants exhibit different self-employment propensity than migrants from former Yugoslavia, Russian and Kazakhstan, Turkey and Italy, with the self-employment aversion especially strong among Romanians. These differences remain substantial even after controlling for social and human capital endowment of the individuals. This study offers important policy recommendations, showing the potential obstacles in encouraging entrepreneurial activity of immigrants. This topic is becoming increasingly important with the current migration crisis in the EU, caused by intensive inflow of asylum-seeking foreigners in 2015.
Journal: Journal of Business Economics and Management
Pages: 598-612
Issue: 4
Volume: 17
Year: 2016
Month: 7
X-DOI: 10.3846/16111699.2016.1202313
File-URL: http://hdl.handle.net/10.3846/16111699.2016.1202313
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Handle: RePEc:taf:jbemgt:v:17:y:2016:i:4:p:598-612
Template-Type: ReDIF-Article 1.0
Author-Name: Óscar González-Benito
Author-X-Name-First: Óscar
Author-X-Name-Last: González-Benito
Author-Name: Pablo A. Muñoz-Gallego
Author-X-Name-First: Pablo A.
Author-X-Name-Last: Muñoz-Gallego
Author-Name: Evelyn García-Zamora
Author-X-Name-First: Evelyn
Author-X-Name-Last: García-Zamora
Title: Role of collaboration in innovation success: differences for large and small businesses
Abstract:
This article analyses the role of collaboration in the contribution of innovation to business performance. Moreover, the analysis considers business size as a key control variable to understand the moderating role of collaboration in innovation success. A survey administered to Spanish firms from industrial, building, agriculture, and trade-service sectors measured two levels of innovation, incremental and radical, and two dimensions of collaboration, channel and consulting advice. The findings show that the probability of success increases when firms use collaboration to support innovation efforts. In addition, small businesses take more advantage of channel collaboration, whereas large businesses rely more on consulting advice-based collaboration. These findings suggest that the convenience of different collaboration approaches depend on business size. Also small and large firms differ on the way they might get additional advantages from alternative ways of collaboration. Therefore, the main contribution is the understanding of how innovation success depends on the interaction between the collaboration approach and business size.
Journal: Journal of Business Economics and Management
Pages: 645-662
Issue: 4
Volume: 17
Year: 2016
Month: 7
X-DOI: 10.3846/16111699.2013.823103
File-URL: http://hdl.handle.net/10.3846/16111699.2013.823103
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Handle: RePEc:taf:jbemgt:v:17:y:2016:i:4:p:645-662
Template-Type: ReDIF-Article 1.0
Author-Name: Antonia Estrella-Ramón
Author-X-Name-First: Antonia
Author-X-Name-Last: Estrella-Ramón
Author-Name: Manuel Sánchez-Pérez
Author-X-Name-First: Manuel
Author-X-Name-Last: Sánchez-Pérez
Author-Name: Gilbert Swinnen
Author-X-Name-First: Gilbert
Author-X-Name-Last: Swinnen
Author-Name: Koen Vanhoof
Author-X-Name-First: Koen
Author-X-Name-Last: Vanhoof
Title: Estimating Customer Potential Value using panel data of a Spanish bank
Abstract:
The main goal of this paper is the calculation of a multi-product model of Customer Potential Value using the Probit method. The results of this first analysis are used to perform an ex-post segmentation of customers, whose output can be employed to improve Customer Relationship Management strategies of the companies. Our research contributes to the consumer behaviour literature insofar as, according to our knowledge, no previous work has examined collectively the proposed drivers of Customer Potential Value in a multi-services retailer. To achieve these objectives, we use a panel data of a Spanish bank. The results allow us to confirm the influence of a set of behavioural variables on the ownership of different banking products and identify those customers whose value is higher and lower through the calculation of Customer Potential Value.
Journal: Journal of Business Economics and Management
Pages: 580-597
Issue: 4
Volume: 17
Year: 2016
Month: 7
X-DOI: 10.3846/16111699.2014.970571
File-URL: http://hdl.handle.net/10.3846/16111699.2014.970571
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Handle: RePEc:taf:jbemgt:v:17:y:2016:i:4:p:580-597
Template-Type: ReDIF-Article 1.0
Author-Name: Eleuterio Vallelado
Author-X-Name-First: Eleuterio
Author-X-Name-Last: Vallelado
Author-Name: Paolo Saona
Author-X-Name-First: Paolo
Author-X-Name-Last: Saona
Author-Name: Pablo San Martín
Author-X-Name-First: Pablo
Author-X-Name-Last: San Martín
Title: How regulation affects the relevance of bank-debt maturity as a control mechanism in developed countries
Abstract:
Improvements in transparency at the country level have modified the relevance of bank debt maturity as a control mechanism. The novelty of this research is that we provide empirical evidence that the maturity of bank borrowing is contingent on the characteristics of the regulatory and the institutional setting about corporate governance. The main implication of our paper is that corporate governance rules have greater influence in civil-law countries than in common-law countries in promoting efficiency in the use of bank debt maturity. The value of this paper is that our results confirm that the implementation of similar regulations on transparency across countries with different legal systems favors the alignment of the role played by short-term bank debt in addressing asymmetric information, agency costs, and inefficient liquidation.
Journal: Journal of Business Economics and Management
Pages: 116-130
Issue: 1
Volume: 18
Year: 2017
Month: 1
X-DOI: 10.3846/16111699.2016.1149878
File-URL: http://hdl.handle.net/10.3846/16111699.2016.1149878
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Handle: RePEc:taf:jbemgt:v:18:y:2017:i:1:p:116-130
Template-Type: ReDIF-Article 1.0
Author-Name: Serdar Ulubeyli
Author-X-Name-First: Serdar
Author-X-Name-Last: Ulubeyli
Title: Industry-wide competitiveness assessment through fuzzy synthetic evaluation: the case of cement industry
Abstract:
This study aims to develop a fuzzy force assessment model (FFAM) for quantifying industry-wide competition conditions (CCs) using five-force framework. It employed fuzzy synthetic evaluation to assess CCs of forces and industry, and real case of Turkish cement industry was demonstrated. As a result, FFAM provides a comprehensive and practical device. As empirical findings, CCs in cement industry are medium-to-high, and pressure from substitutes is the most effective force, followed by intensity of competitors’ rivalry, bargaining power of buyers, bargaining power of suppliers, and threat of entrants. Consequently, this study is first to propose a structured and fuzzy five-force quantification model and to assess CCs in cement industry.
Journal: Journal of Business Economics and Management
Pages: 35-53
Issue: 1
Volume: 18
Year: 2017
Month: 1
X-DOI: 10.3846/16111699.2016.1218927
File-URL: http://hdl.handle.net/10.3846/16111699.2016.1218927
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Handle: RePEc:taf:jbemgt:v:18:y:2017:i:1:p:35-53
Template-Type: ReDIF-Article 1.0
Author-Name: Suzanne L. Conner
Author-X-Name-First: Suzanne L.
Author-X-Name-Last: Conner
Author-Name: James Reardon
Author-X-Name-First: James
Author-X-Name-Last: Reardon
Author-Name: Chip Miller
Author-X-Name-First: Chip
Author-X-Name-Last: Miller
Author-Name: Laura Salciuviene
Author-X-Name-First: Laura
Author-X-Name-Last: Salciuviene
Author-Name: Vilte Auruskeviciene
Author-X-Name-First: Vilte
Author-X-Name-Last: Auruskeviciene
Title: Cultural antecedents to the normative, affective, and cognitive effects of domestic versus foreign purchase behavior
Abstract:
The paper aims to investigate simultaneous and independent effects of cognitive, affective, and normative (CAN) decision mechanisms and cultural elements on consumer purchase behavior of foreign and domestic products. The study uses a survey to collect data from 5 086 respondents across 19 nations. The findings suggest that CAN factors independently affect purchase decisions for domestic, but not always foreign goods. Collectivism and uncertainty avoidance directly and differentially affect the CAN mechanisms. By explaining the effects of CAN and cultural elements on foreign and domestic purchase behaviour and offering product positioning strategies to internationally operating business managers the study provides important research and practical implications. The originality and value of this research lies in the theoretically proposed and empirically tested model, which incorporates consumer ethnocentrism, quality importance, national identification, cultural antecedents (collectivism and uncertainty avoidance) and domestic/ foreign product purchase behaviour.
Journal: Journal of Business Economics and Management
Pages: 100-115
Issue: 1
Volume: 18
Year: 2017
Month: 1
X-DOI: 10.3846/16111699.2016.1220975
File-URL: http://hdl.handle.net/10.3846/16111699.2016.1220975
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Handle: RePEc:taf:jbemgt:v:18:y:2017:i:1:p:100-115
Template-Type: ReDIF-Article 1.0
Author-Name: Giedrė Lapinskienė
Author-X-Name-First: Giedrė
Author-X-Name-Last: Lapinskienė
Author-Name: Kęstutis Peleckis
Author-X-Name-First: Kęstutis
Author-X-Name-Last: Peleckis
Author-Name: Zlatko Nedelko
Author-X-Name-First: Zlatko
Author-X-Name-Last: Nedelko
Title: Testing environmental Kuznets curve hypothesis: the role of enterprise’s sustainability and other factors on GHG in European countries
Abstract:
The paper analyses the environmental Kuznets curve relationship between greenhouse gases and chosen indicators of economic development based on the panel data of 20 countries of the EU in the period 2006–2013. Besides the typical variables, such as the share of a particular polluting industry, environmental taxes, energy taxes, research and development, the dummy variable of the crises and enterprise’s sustainability score were also included in the model. The fixed effect panel model was used as a framework for the analysis. The original contribution of this paper is that the factor referring to the enterprises’ sustainability was empirically tested in the expanded model. Higher energy taxes, research and development and the number of sustainable enterprises decrease the level of greenhouse gases. The size of agriculture, production and construction has a positive sign, which means that a higher value of the indicator is associated with a higher level of greenhouse gases. This implies that the analysed set of factors can be applied to adjust the trend in the region and might be useful for the climate change policy adjustment.
Journal: Journal of Business Economics and Management
Pages: 54-67
Issue: 1
Volume: 18
Year: 2017
Month: 1
X-DOI: 10.3846/16111699.2016.1249401
File-URL: http://hdl.handle.net/10.3846/16111699.2016.1249401
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Handle: RePEc:taf:jbemgt:v:18:y:2017:i:1:p:54-67
Template-Type: ReDIF-Article 1.0
Author-Name: António C. Moreira
Author-X-Name-First: António C.
Author-X-Name-Last: Moreira
Author-Name: Nuno Fortes
Author-X-Name-First: Nuno
Author-X-Name-Last: Fortes
Author-Name: Ramiro Santiago
Author-X-Name-First: Ramiro
Author-X-Name-Last: Santiago
Title: Influence of sensory stimuli on brand experience, brand equity and purchase intention
Abstract:
Sensory stimulation is used by various brands to induce desired behaviours among their customers. Although its effectiveness is recognised in business contexts, little research has been conducted on sensory marketing. In order to contribute to filling this gap, this study sought to build a model that explains how sensory stimulation influences intentions to purchase a brand. Brand experience and brand equity were expected to mediate this relationship. The empirical validation of the model was conducted by carrying out an online survey with a convenience sample of 302 customers of a brand of the catering industry. The data collected were processed using PLS-SEM methodology. The results reveal that sensory stimulation positively influences brand experience and brand equity, which, in turn, have a positive impact on intentions to purchase the brand in question. The relevant contributions that emerged from this study include not only bridging the aforementioned gap in the literature but also offering significant managerial implications.
Journal: Journal of Business Economics and Management
Pages: 68-83
Issue: 1
Volume: 18
Year: 2017
Month: 1
X-DOI: 10.3846/16111699.2016.1252793
File-URL: http://hdl.handle.net/10.3846/16111699.2016.1252793
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Handle: RePEc:taf:jbemgt:v:18:y:2017:i:1:p:68-83
Template-Type: ReDIF-Article 1.0
Author-Name: Jun Sik Kim
Author-X-Name-First: Jun Sik
Author-X-Name-Last: Kim
Author-Name: Da-Hea Kim
Author-X-Name-First: Da-Hea
Author-X-Name-Last: Kim
Author-Name: Sung Won Seo
Author-X-Name-First: Sung Won
Author-X-Name-Last: Seo
Title: Individual mean-variance relation and stock-level investor sentiment
Abstract:
This research studies the effect of stock-level investor sentiment on individual stock returns’ mean-variance relation. Using unique buy and sell volume data of retail investors in Korean stock market, we find that a positive mean-variance relation is undermined among high-sentiment stocks, but holds among low-sentiment stocks. We adopt buy-sell imbalances of retail investors for individual stocks as a measure of stock-level investor sentiment. Further, our findings provide empirical evidence of a strong risk-return trade-off among stocks with low retail concentration (e.g., large capitalization, high-priced, and growth stocks). Existing research only analyzes market-wide investor sentiment. However, we study the effect of stock-level investor sentiment on individual stock returns. Therefore, our findings suggest novel implications about the investment strategy that the stock-level investor sentiment is important when constructing portfolios based on variance.
Journal: Journal of Business Economics and Management
Pages: 20-34
Issue: 1
Volume: 18
Year: 2017
Month: 1
X-DOI: 10.3846/16111699.2016.1252794
File-URL: http://hdl.handle.net/10.3846/16111699.2016.1252794
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Handle: RePEc:taf:jbemgt:v:18:y:2017:i:1:p:20-34
Template-Type: ReDIF-Article 1.0
Author-Name: Boris Urban
Author-X-Name-First: Boris
Author-X-Name-Last: Urban
Author-Name: Gabriël Coenraad Daniël Stoltz Joubert
Author-X-Name-First: Gabriël Coenraad Daniël Stoltz
Author-X-Name-Last: Joubert
Title: Multidimensional and comparative study on intellectual capital and organisational performance
Abstract:
Intellectual capital (IC) as the knowledge-based equity of organizations is increasingly recognised as an important value contributor to performance. By building on previous research, the study examines the IC components of human capital, structural capital and relational capital as they relate to organisational performance. Following past international studies, a model is developed and statistically tested. A survey is administered to firms across several industries and data is analysed employing structural equation modelling. Recognising that replications and extensions of IC studies are vital to knowledge development, comparisons with international studies are made. The results provide support for the hypotheses where relationships between the IC components and performance are evident. These findings suggest that it is crucial for an organisation to optimise the utilisation of its human capital for the sake of optimising its structural capital, which leads to higher performance. By positioning the study in terms of IC literature, the study offers the ability to compare the present study findings with similar findings across countries.
Journal: Journal of Business Economics and Management
Pages: 84-99
Issue: 1
Volume: 18
Year: 2017
Month: 1
X-DOI: 10.3846/16111699.2016.1255990
File-URL: http://hdl.handle.net/10.3846/16111699.2016.1255990
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Handle: RePEc:taf:jbemgt:v:18:y:2017:i:1:p:84-99
Template-Type: ReDIF-Article 1.0
Author-Name: Sule Birim
Author-X-Name-First: Sule
Author-X-Name-Last: Birim
Author-Name: Cigdem Sofyalioglu
Author-X-Name-First: Cigdem
Author-X-Name-Last: Sofyalioglu
Title: Evaluating vendor managed inventory systems: how incentives can benefit supply chain partners
Abstract:
In a vendor managed inventory (VMI) system, the effects of financial incentives on the entire supply chain (SC) and on the individual firms are investigated in this study. To this end, order management, order replenishment and inventory control activities of a two-echelon SC are examined via modeling using discrete event simulation. By determining the appropriate parameters for the incentives with scenario analysis, balanced profit distribution between buyers and a supplier in VMI is established. Simulation outputs of the traditional model, VMI only and VMI with incentives models are compared based on profits with paired comparisons. In VMI with incentives, both buyers, and the supplier experience higher benefits than the traditional system. This study provides a new method which eliminates the unbalanced benefit distribution due to VMI and offers almost equal benefits to the participating firms. With financial incentives, firms are encouraged to share information with each other to work in a coordinated SC.
Journal: Journal of Business Economics and Management
Pages: 163-179
Issue: 1
Volume: 18
Year: 2017
Month: 1
X-DOI: 10.3846/16111699.2016.1266695
File-URL: http://hdl.handle.net/10.3846/16111699.2016.1266695
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Handle: RePEc:taf:jbemgt:v:18:y:2017:i:1:p:163-179
Template-Type: ReDIF-Article 1.0
Author-Name: The Editors
Title: Corrigendum
Journal: Journal of Business Economics and Management
Pages: 180-180
Issue: 1
Volume: 18
Year: 2017
Month: 1
X-DOI: 10.3846/16111699.2017.1275283
File-URL: http://hdl.handle.net/10.3846/16111699.2017.1275283
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Handle: RePEc:taf:jbemgt:v:18:y:2017:i:1:p:180-180
Template-Type: ReDIF-Article 1.0
Author-Name: Xiaoting Wang
Author-X-Name-First: Xiaoting
Author-X-Name-Last: Wang
Author-Name: Aihua Chen
Author-X-Name-First: Aihua
Author-X-Name-Last: Chen
Author-Name: Huafeng Wang
Author-X-Name-First: Huafeng
Author-X-Name-Last: Wang
Author-Name: Shengxiao Li
Author-X-Name-First: Shengxiao
Author-X-Name-Last: Li
Title: Effect of export promotion programs on export performance: evidence from manufacturing SMEs
Abstract:
The objective of this paper is to examine how a firm’s participation in government export promotion programs (EPPs) may lead to a better export performance. Based on dynamic capabilities perspective, a mediated moderation model of EPPs on export performance was proposed and tested in Chinese manufacturing SMEs. The results show marketing implementation capabilities mediate the effect of information-related programs on export performance, and the financial aid-related EPPs moderate the process. The results contribute to the studies relating EPPs and export performance, as the results confirm the instrumental role of EPPs in enhancing export performance and examine the interplay between different types of EPPs. This study provides a guideline for managers as to how they can benefit from government EPPs. The findings also imply that policy makers should develop EPPs with a specific emphasis rather than a general goal of export performance.This study develops new insights on how export ventures exploit EPPs to develop useful capabilities. Also, the study expands current thinking on exporting by recognizing that different types of EPPs affect exporting.
Journal: Journal of Business Economics and Management
Pages: 131-145
Issue: 1
Volume: 18
Year: 2017
Month: 1
X-DOI: 10.3846/16111699.2016.1278031
File-URL: http://hdl.handle.net/10.3846/16111699.2016.1278031
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Handle: RePEc:taf:jbemgt:v:18:y:2017:i:1:p:131-145
Template-Type: ReDIF-Article 1.0
Author-Name: Mehdi Keshavarz Ghorabaee
Author-X-Name-First: Mehdi Keshavarz
Author-X-Name-Last: Ghorabaee
Author-Name: Maghsoud Amiri
Author-X-Name-First: Maghsoud
Author-X-Name-Last: Amiri
Author-Name: Edmundas Kazimieras Zavadskas
Author-X-Name-First: Edmundas Kazimieras
Author-X-Name-Last: Zavadskas
Author-Name: Reyhaneh Hooshmand
Author-X-Name-First: Reyhaneh
Author-X-Name-Last: Hooshmand
Author-Name: Jurgita Antuchevičienė
Author-X-Name-First: Jurgita
Author-X-Name-Last: Antuchevičienė
Title: Fuzzy extension of the CODAS method for multi-criteria market segment evaluation
Abstract:
One of the important activities of a company that can increase its competitiveness is market segment evaluation and selection (MSE/MSS). We can usually consider MSE/MSS as a multi-criteria decision-making (MCDM) problem, and so we need to use an MCDM method to handle it. Uncertainty is one of the important factors that can affect the process of decision-making. Fuzzy MCDM approached have been designed to deal with the uncertainty of decision-making problems. In this study, a fuzzy extension of the CODAS (COmbinative Distance-based ASsessment) method is proposed to solve multi-criteria group decision-making problems. We use linguistic variables and trapezoidal fuzzy numbers to extend the CODAS method. The proposed fuzzy CODAS method is applied to an example of market segment evaluation and selection problem under uncertainty. To validate the results, a comparison is performed between the fuzzy CODAS and two other MCDM methods (fuzzy EDAS and fuzzy TOPSIS). A sensitivity analysis is also carried out to demonstrate the stability of the results of the fuzz CODAS. For this aim, ten sets of criteria weights are randomly generated and the example is solved using each set separately. The results of the comparison and the sensitivity analysis show that the proposed fuzzy CODAS method gives valid and stable results.
Journal: Journal of Business Economics and Management
Pages: 1-19
Issue: 1
Volume: 18
Year: 2017
Month: 1
X-DOI: 10.3846/16111699.2016.1278559
File-URL: http://hdl.handle.net/10.3846/16111699.2016.1278559
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Handle: RePEc:taf:jbemgt:v:18:y:2017:i:1:p:1-19
Template-Type: ReDIF-Article 1.0
Author-Name: The Editors
Title: Erratum
Journal: Journal of Business Economics and Management
Pages: 181-181
Issue: 1
Volume: 18
Year: 2017
Month: 1
X-DOI: 10.3846/16111699.2017.1278645
File-URL: http://hdl.handle.net/10.3846/16111699.2017.1278645
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Handle: RePEc:taf:jbemgt:v:18:y:2017:i:1:p:181-181
Template-Type: ReDIF-Article 1.0
Author-Name: Krzysztof Stepaniuk
Author-X-Name-First: Krzysztof
Author-X-Name-Last: Stepaniuk
Title: Blog content management in shaping pro recreational attitudes
Abstract:
The main aim of this article was to research the impact of the content of recreational blogs on the change of attitude and behaviours of their recipients, as well as creating the basis to manage the content of blogs directed to achieve particular results. The study was conducted with the use of quantitative and qualitative content analysis. The contents of 691 comments left by 4 main types of commentators were analysed. The evaluation of individual entries was performed using the assumptions of the modified AIDA model of consumer behaviour. The possibility of a positive causal link between the presented content and the appearance of the signs of its impact on the behaviour of individuals tracking the posts has been proven to a minor extent only. Merely 0.5% of commentators and individuals were not engaged in running declared changing their way of life to a pro recreational and sports-related one.Conducting analyses directly on the large, narrative story-telling content with the use of a consumer behaviour model is a novelty of this paper and rarely appears in the scientific literature. The theoretical significance of the work is connected with the development of the theory of marketing management in the context of social networks content management.
Journal: Journal of Business Economics and Management
Pages: 146-162
Issue: 1
Volume: 18
Year: 2017
Month: 1
X-DOI: 10.3846/16111699.2017.1280693
File-URL: http://hdl.handle.net/10.3846/16111699.2017.1280693
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Handle: RePEc:taf:jbemgt:v:18:y:2017:i:1:p:146-162
Template-Type: ReDIF-Article 1.0
Author-Name: The Editors
Title: Editorial board
Journal:
Pages: ebi-ebii
Issue: 2
Volume: 11
Year: 2010
X-DOI: 10.1080/16111699.2010.9636269
File-URL: http://hdl.handle.net/10.1080/16111699.2010.9636269
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Handle: RePEc:taf:jbemgt:v:11:y:2010:i:2:p:ebi-ebii
Template-Type: ReDIF-Article 1.0
Author-Name: The Editors
Title: Editorial board
Journal:
Pages: ebi-ebi
Issue: 3
Volume: 7
Year: 2006
X-DOI: 10.1080/16111699.2006.9636128
File-URL: http://hdl.handle.net/10.1080/16111699.2006.9636128
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Handle: RePEc:taf:jbemgt:v:7:y:2006:i:3:p:ebi-ebi
Template-Type: ReDIF-Article 1.0
Author-Name: Edvins Karnitis
Author-X-Name-First: Edvins
Author-X-Name-Last: Karnitis
Title: A knowledge‐based human‐centred growth model for Latvia
Abstract: A growth model for Latvia is presented. The main resource for growth is the knowledge and wisdom of Latvia's inhabitants, and the ability of each individual to make use of this resource. Raising the quality of life in every aspect for each individual is the main goal of growth. The collective knowledge of the people must be used to achieve this. In achieving this goal we must make use of coordinated and balanced development of each aspect of life, taking into account the unity of activities and the expansion these activities beyond frameworks of individual sectors, institutions, formal state structures and across borders. The model has been approved by Saeima (Parliament) in 2005. Several activities have been started to implement the model.
Journal: Journal of Business Economics and Management
Pages: 95-101
Issue: 3
Volume: 7
Year: 2006
X-DOI: 10.1080/16111699.2006.9636129
File-URL: http://hdl.handle.net/10.1080/16111699.2006.9636129
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Handle: RePEc:taf:jbemgt:v:7:y:2006:i:3:p:95-101
Template-Type: ReDIF-Article 1.0
Author-Name: Hea‐Jung Hyun
Author-X-Name-First: Hea‐Jung
Author-X-Name-Last: Hyun
Title: Quality of institutions and foreign direct investment in developing countries: Causality tests for cross‐country panels
Abstract: This paper analyzes the short‐run and long‐run dynamics between quality of institutions and foreign direct investment (FDI) in the sample of 62 developing countries covering the period 1984–2003. Panel cointegration test and FM OLS (Fully Modified OLS) estimators are used to test for cointegration. For short‐run dynamics, we estimate error correction model using fixed effect OLS and system GMM estimators. Institutional quality and FDI are found to have bi‐directional cointegrating relationship in the long‐run. However, there is no evidence in favor of short‐run causality between two variables. JEL Classification: C23, F23, O17
Journal: Journal of Business Economics and Management
Pages: 103-110
Issue: 3
Volume: 7
Year: 2006
X-DOI: 10.1080/16111699.2006.9636130
File-URL: http://hdl.handle.net/10.1080/16111699.2006.9636130
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Handle: RePEc:taf:jbemgt:v:7:y:2006:i:3:p:103-110
Template-Type: ReDIF-Article 1.0
Author-Name: Vulfs Kozlinskis
Author-X-Name-First: Vulfs
Author-X-Name-Last: Kozlinskis
Author-Name: Kristine Guseva
Author-X-Name-First: Kristine
Author-X-Name-Last: Guseva
Title: Evaluation of some business macro environment forecasting methods
Abstract: Latest studies in the field of business macro environment (BME) assessment and forecasting have been undertaken and successfully implemented by the World Bank (2003–2004). Considerable contribution to the field has been made by Nobel Prize winners in Economics F. Kydland and E. Prescott in 2004. Nonetheless, a number of issues concerning BME evaluation and forecasting is still left unstudied. The Article highlights two major issues of BME: the fist part of the paper is focused on assessment of BME and the quality of BME development prognosis made by entrepreneurs. Based on key findings the following second part of the research examines the accuracy (validity) of businessmen prognosis and identifies key indicators businessmen rely on for formulating their future expectations. For that purpose a system of parameters and trends, as well as entrepreneurs’ survey results have been applied. The study concludes by illustrating the effect of inaccurately formulated prognosis and expectation on further development of BME events in conjunction with new assessment and forecasting proposals.
Journal: Journal of Business Economics and Management
Pages: 111-117
Issue: 3
Volume: 7
Year: 2006
X-DOI: 10.1080/16111699.2006.9636131
File-URL: http://hdl.handle.net/10.1080/16111699.2006.9636131
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Handle: RePEc:taf:jbemgt:v:7:y:2006:i:3:p:111-117
Template-Type: ReDIF-Article 1.0
Author-Name: Jesper Strandskov
Author-X-Name-First: Jesper
Author-X-Name-Last: Strandskov
Title: Sources of competitive advantages and business performance
Abstract: Based on data from the European meat processing industry three sets of competitive sources on business performance are studied: Firm Specific Advantages (FSAs), Localizational Specific Advantages (LSAs) and Relation Specific Advantages (RSAs). The results indicate that the FSAs and the RSAs are the most important explanatory variables on business performance, however, with strong interaction effects between the two sets of variables. Given the findings, we call for further empirical validation of how the different sets of competitive advantages interact and reinforce each. A closer examination of the nature of the RSAs, ie resource accumulation and development through inter‐firm co‐operation is also needed.
Journal: Journal of Business Economics and Management
Pages: 119-129
Issue: 3
Volume: 7
Year: 2006
X-DOI: 10.1080/16111699.2006.9636132
File-URL: http://hdl.handle.net/10.1080/16111699.2006.9636132
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Handle: RePEc:taf:jbemgt:v:7:y:2006:i:3:p:119-129
Template-Type: ReDIF-Article 1.0
Author-Name: Irina Sennikova
Author-X-Name-First: Irina
Author-X-Name-Last: Sennikova
Author-Name: Boriss Kurovs
Author-X-Name-First: Boriss
Author-X-Name-Last: Kurovs
Title: Phenomenon of intellectual entrepreneurship and emerging patterns of intellectual entrepreneurship in Latvia
Abstract: The paper is a report on the work in progress on the broader exploratory study into intellectual entrepreneurship in the Baltics, which aims to explore the emerging patterns of intellectual entrepreneurship through experience of individuals. The findings are based on the qualitative interviews with 13 entrepreneurs, who fit Johansson et. al. (1999) and Konstantinov and Filonovich (2005) definition of intellectual entrepreneurs and whose businesses fit Schumpeter's (1934) definition of innovativeness. Based on the literature of intellectual entrepreneurship the emerging typology of intellectual entrepreneurship was developed to assist in selecting the sample. The participants of the study were divided into the following categories: entrepreneuring academics, entrepreneuring academic profesionals, entrepreneuring intellectuals and intuitive entrepreneurs. During the study three emerging patterns of IE in Latvia were identified, which can be called ‘an ideal one’, ‘professional one’ and a ‘forced one’ depending on the educational, professional and experiential background of the entrepreneurs. The identified patterns will lay the foundation for further development of training and educational programmes for potential entrepreneurs, providing specialised cross‐disciplined programmes not only for students studying entrepreneurship, economics or business, but also for the students from other disciplines, thus increasing the potential for developing intellectual entrepreneurs. It will also allow identifying the ways of utilising intellectual capacity of individuals and attracting them into entrepreneurship in non‐extreme, positive circumstances.
Journal: Journal of Business Economics and Management
Pages: 131-138
Issue: 3
Volume: 7
Year: 2006
X-DOI: 10.1080/16111699.2006.9636133
File-URL: http://hdl.handle.net/10.1080/16111699.2006.9636133
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Handle: RePEc:taf:jbemgt:v:7:y:2006:i:3:p:131-138
Template-Type: ReDIF-Article 1.0
Author-Name: Jan Bentzen
Author-X-Name-First: Jan
Author-X-Name-Last: Bentzen
Author-Name: Erik Madsen
Author-X-Name-First: Erik
Author-X-Name-Last: Madsen
Author-Name: Valdemar Smith
Author-X-Name-First: Valdemar
Author-X-Name-Last: Smith
Title: The growth opportunities for SMC?
Abstract: The extensive empirical literature on the validity of Gibrat's law does not in general verify the law as it finds that firms’ growth rates are negatively correlated with both firm size and age. However, some studies find that Gibrat's law holds for sub‐samples of firms such as large firms or firms belonging to special industries. It has been pointed out that these results are due to the fact that the likelihood of firm survival for natural reasons is positively related to firm size and age. This study uses a relatively large and representative sample of Danish firms to evaluate the validity of Gibrat's law for different kinds of firms over the period 1990 ‐ 2003. In contrast to the majority of earlier studies our analysis corrects for the bias in the estimations by using variables related to the survival of small firms.
Journal: Journal of Business Economics and Management
Pages: 139-145
Issue: 3
Volume: 7
Year: 2006
X-DOI: 10.1080/16111699.2006.9636134
File-URL: http://hdl.handle.net/10.1080/16111699.2006.9636134
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Handle: RePEc:taf:jbemgt:v:7:y:2006:i:3:p:139-145
Template-Type: ReDIF-Article 1.0
Author-Name: Svetlana Saksonova
Author-X-Name-First: Svetlana
Author-X-Name-Last: Saksonova
Title: The analysis of company's capital and evaluation of factors, which influence creation of the optimal capital structure
Abstract: In this article, the author will outline several stages of the process of determining optimal capital structure and will concentrate in particular on the first two stages of this process – analysis of company's borrowed capital and equity as well as the evaluation of the main factors, which influence capital structure. It is important to stress these preparatory stages, because successful operation of the company is built on properly understanding the relationship between risk and potential reward that is inherent in different alternatives of capital structure. These stages stress the importance of gathering reliable financial information about the company (enabling calculation of the ratios mentioned in the article) and performing risk analysis (relying in part on the external and internal factors described in the article) in order to decide on the optimal capital structure. The author cautions that rapid economics growth in Latvia will at least slow down over time. Managers need to take that into account, when planning capital structure and therefore avoid increasing their leverage to dangerous levels.
Journal: Journal of Business Economics and Management
Pages: 147-153
Issue: 3
Volume: 7
Year: 2006
X-DOI: 10.1080/16111699.2006.9636135
File-URL: http://hdl.handle.net/10.1080/16111699.2006.9636135
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Handle: RePEc:taf:jbemgt:v:7:y:2006:i:3:p:147-153
Template-Type: ReDIF-Article 1.0
Author-Name: Zdenek Wegscheider
Author-X-Name-First: Zdenek
Author-X-Name-Last: Wegscheider
Author-Name: Mojmir Sabolovic
Author-X-Name-First: Mojmir
Author-X-Name-Last: Sabolovic
Title: Biobased economy available biomass resources in the Czech Republic
Abstract: During the past two decades academia, industry and government have aimed more and more their attention to the phenomenon of a biobased economy providing society with non‐food biobased products. Now developing are biomass industries that make an array of commercial products, including fuels, electricity, chemicals, adhesives, lubricants and building materials, as well as new clothing fibers and plastics. Instead of fossil resources “green” biobased economy uses renewable grown or waste biomass. The lead supplying role to the biobased economy is held by a sector of agriculture, above all the crop production. In this manner an effective limitation of food surplus may occur in the EU market and enhance a value added to all vertical industry. Industrial‐scale production of biobased materials in time with consumers’ changing attitudes towards sustainable economic and social development may affect a wide array of consequences which nowadays can be tediously estimated. Food safety along with food security is one of the hottest issues especially in the United States, knowing that human population and biobased economy compete in using and processing a broad range of agricultural crops. An energy analysis aspect of this caloric relationship among agricultural sector on the supply side and human population and biobased economy on the other – demand side is assumed to represent the principal aim of this study. Consequently, there is the need to evaluate whether a quantity of Czech Crop Output Total is possible to nourish the Czech population and whether there is an available caloric surplus suitable as a biomass resource for biobased economy which is actually taking root.
Journal: Journal of Business Economics and Management
Pages: 155-162
Issue: 3
Volume: 7
Year: 2006
X-DOI: 10.1080/16111699.2006.9636136
File-URL: http://hdl.handle.net/10.1080/16111699.2006.9636136
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Handle: RePEc:taf:jbemgt:v:7:y:2006:i:3:p:155-162
Template-Type: ReDIF-Article 1.0
Author-Name: The Editors
Title: Editorial board
Journal:
Pages: ebi-ebii
Issue: 1
Volume: 11
Year: 2010
X-DOI: 10.1080/16111699.2010.9636260
File-URL: http://hdl.handle.net/10.1080/16111699.2010.9636260
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Handle: RePEc:taf:jbemgt:v:11:y:2010:i:1:p:ebi-ebii
Template-Type: ReDIF-Article 1.0
Author-Name: Josep Martí
Author-X-Name-First: Josep
Author-X-Name-Last: Martí
Author-Name: Maite Alguacil
Author-X-Name-First: Maite
Author-X-Name-Last: Alguacil
Author-Name: Vicente Orts
Author-X-Name-First: Vicente
Author-X-Name-Last: Orts
Title: Location choice of Spanish multinational firms in developing and transition economies
Abstract:
In this paper, we use firm-level data to investigate how different host country characteristics affect the decision of Spanish multinational firms to locate in developing and transition countries, and whether these determinants change when looking at manufacturing or services firms. As a methodological novelty, we estimate both standard conditional logit models as well as other discrete choice models that allow us to account for the possibility that firms perceive some alternative destinations as being more similar (nested and mixed logit models). A better understanding of the relevance of local factors that determine the competitiveness of these economies in providing multinational firms with location advantages can guide policymakers in their attempt to attract foreign capital flows. This, however, has not been previously addressed by the empirical literature at a firm level and across sectors. Our results suggest that Spanish investments in developing and transition economies are mainly driven by market-seeking factors. They also confirm the relevance of the business and financial climate in the location decision of multinational firms. Finally, the estimations reveal differences between manufacturing and services foreign direct investments in several local factors, such as the agglomeration effects, skilled labour and financial risk.
Journal: Journal of Business Economics and Management
Pages: 319-339
Issue: 2
Volume: 18
Year: 2017
Month: 3
X-DOI: 10.3846/16111699.2015.1013980
File-URL: http://hdl.handle.net/10.3846/16111699.2015.1013980
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Handle: RePEc:taf:jbemgt:v:18:y:2017:i:2:p:319-339
Template-Type: ReDIF-Article 1.0
Author-Name: Rafael Bravo
Author-X-Name-First: Rafael
Author-X-Name-Last: Bravo
Author-Name: Isabel Buil
Author-X-Name-First: Isabel
Author-X-Name-Last: Buil
Author-Name: Leslie de Chernatony
Author-X-Name-First: Leslie
Author-X-Name-Last: de Chernatony
Author-Name: Eva Martínez
Author-X-Name-First: Eva
Author-X-Name-Last: Martínez
Title: Brand Identity Management and Corporate Social Responsibility: an analysis from employees’ perspective in the banking sector
Abstract:
Brand identity management and corporate social responsibility have increased importance in both managerial practice and academic research. However, only a small number of studies have examined how these strategic tools influence employees’ attitudes and behaviours. The aim of this paper is, therefore, to analyse how employees’ perceptions of brand identity management and corporate social responsibility affect their attitudes and behaviours. An empirical study was undertaken among a sample of 297 front line employees working in the UK banking sector. Hypotheses were tested using partial least square regression. The results show that employees’ perceptions of brand identity management and corporate social responsibility determine their commitment towards their organisations, both directly and indirectly through perceived external prestige. Organisational commitment explains employees’ brand performance and brand citizenship behaviour. Age differences indicate higher impact of brand identity management on older employees, and higher effects of perceived corporate social responsibility in younger employees. The results extend existing knowledge and are informative for bank managers.
Journal: Journal of Business Economics and Management
Pages: 241-257
Issue: 2
Volume: 18
Year: 2017
Month: 3
X-DOI: 10.3846/16111699.2016.1209785
File-URL: http://hdl.handle.net/10.3846/16111699.2016.1209785
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Handle: RePEc:taf:jbemgt:v:18:y:2017:i:2:p:241-257
Template-Type: ReDIF-Article 1.0
Author-Name: Ligita Gasparėnienė
Author-X-Name-First: Ligita
Author-X-Name-Last: Gasparėnienė
Author-Name: Rita Remeikienė
Author-X-Name-First: Rita
Author-X-Name-Last: Remeikienė
Author-Name: Friedrich Georg Schneider
Author-X-Name-First: Friedrich Georg
Author-X-Name-Last: Schneider
Title: Concept, motives and channels of digital shadow economy: consumers’ attitude
Abstract:
The purpose of this article is to define the concept of digital shadow economy and identify its determinants and channels from consumers’ position. In order to fulfil the defined purpose, the method of snowball sampling was employed. The results of the research revealed that consumers interpret digital shadow economy as an illegal operation in the Internet space, which generates illegal money flows for commodity/service providers or purchasers, and deprives legal traders/service providers from the revenue that could be officially accounted, calculated and declared. E-shops, social networks and websites are the channels, most commonly engaged for acquisition of goods/services in digital space; the categories of goods/services acquired by these channels include clothing and footwear, trips and entertainment, cosmetics and perfume. Purification of the concept of digital shadow economy from consumers’ position allowed to define the concept of digital shadow economy, which is a significant contribution to the evolution of the theory of digital shadow economy, and can enable to develop an instrument for measuring the scopes of digital shadow economy in further research.
Journal: Journal of Business Economics and Management
Pages: 273-287
Issue: 2
Volume: 18
Year: 2017
Month: 3
X-DOI: 10.3846/16111699.2016.1214620
File-URL: http://hdl.handle.net/10.3846/16111699.2016.1214620
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Handle: RePEc:taf:jbemgt:v:18:y:2017:i:2:p:273-287
Template-Type: ReDIF-Article 1.0
Author-Name: Ivana Kraftová
Author-X-Name-First: Ivana
Author-X-Name-Last: Kraftová
Author-Name: Lenka Kašparová
Author-X-Name-First: Lenka
Author-X-Name-Last: Kašparová
Title: Assessment of the financial health of regional emergency medical services in the Czech Republic using the BAMF model
Abstract:
The focus of the paper is the evaluation of the financial health of selected public service providers. As part of the research we used a specially designed model of balance-sheet analysis for BAMF municipal companies. Used on a sample of 14 regional providers of emergency medical services in the Czech Republic from 2010–2014, we assessed the level and variability of the aggregate financial health indicator BAMF and its components, five sub-indicators. It turns out that the financial health of these subjects, although displaying significant similarities are not free of extreme values that in practice require more attention, or more precisely, deeper analysis. The authors conclude that the model is relatively easy to apply in practice and can contribute to the better financial health management of public sector bodies. At the same time, the BAMF model can be considered an addition to the theory of financial analysis.
Journal: Journal of Business Economics and Management
Pages: 340-353
Issue: 2
Volume: 18
Year: 2017
Month: 3
X-DOI: 10.3846/16111699.2016.1272067
File-URL: http://hdl.handle.net/10.3846/16111699.2016.1272067
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Handle: RePEc:taf:jbemgt:v:18:y:2017:i:2:p:340-353
Template-Type: ReDIF-Article 1.0
Author-Name: Hyunseok Kim
Author-X-Name-First: Hyunseok
Author-X-Name-Last: Kim
Author-Name: Jaisang Kim
Author-X-Name-First: Jaisang
Author-X-Name-Last: Kim
Author-Name: Kyeong-Seop Choi
Author-X-Name-First: Kyeong-Seop
Author-X-Name-Last: Choi
Title: Ambivalent impact of customer satisfaction on firm value in emerging markets: the case of Korea
Abstract:
Many researchers report that American Customer Satisfaction Index relates significantly and positively to firm value. The purpose of this paper is to examine whether such relation holds in the emerging markets such as Korea. Our preliminary OLS analysis reports that Korean customer satisfaction is irrelevant to firm value. Quantile regressions, applied for further analysis, report that customer satisfaction can be detrimental to firm value if the firm is enjoying the higher kind of value. These results undermine efforts, on the theoretical level, to establish Customer Satisfaction Index as a consolidated firm-value indicator; furthermore, managerial efforts to boost up firm value by managing customer satisfaction lose ground in the emerging markets.This study also corroborates Reinartz and Kumar’s (2002) marketing insight that to satisfy customers, make them loyal, is trivial for profitability and firm value in Korea perspective.The practical implication of our finding is that the relation between customer satisfaction and firm value becomes more ambiguous, especially when it is considered in the emerging market contexts. It also provides management with a fresh new insight that they should take prudence when they increase expenses on customer satisfaction since it turned out to be not a “panacea”.
Journal: Journal of Business Economics and Management
Pages: 258-272
Issue: 2
Volume: 18
Year: 2017
Month: 3
X-DOI: 10.3846/16111699.2016.1272068
File-URL: http://hdl.handle.net/10.3846/16111699.2016.1272068
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Handle: RePEc:taf:jbemgt:v:18:y:2017:i:2:p:258-272
Template-Type: ReDIF-Article 1.0
Author-Name: Ali Tizroo
Author-X-Name-First: Ali
Author-X-Name-Last: Tizroo
Author-Name: Ahmad Esmaeili
Author-X-Name-First: Ahmad
Author-X-Name-Last: Esmaeili
Author-Name: Ehsan Khaksar
Author-X-Name-First: Ehsan
Author-X-Name-Last: Khaksar
Author-Name: Jonas Šaparauskas
Author-X-Name-First: Jonas
Author-X-Name-Last: Šaparauskas
Author-Name: Mohammad Mahdi Mozaffari
Author-X-Name-First: Mohammad Mahdi
Author-X-Name-Last: Mozaffari
Title: Proposing an agile strategy for a steel industry supply chain through the integration of balance scorecard and Interpretive Structural Modeling
Abstract:
The internal and external environment of all organizations challenges them adapt to the best practices and reconsider their relationship throughout the supply chain. In this paper, the authors have tried to propose an agile strategy for the supply chain of a steel company, which ranks 3rd in Iran in Gross Sale with 16,000 employees, in order to respond quickly to ever-changing needs. To do this, through the literature review the framework of balanced scorecard was utilized to structure agility factors in the supply chain of the steel industry. Then the experts were interviewed to reconcile on the factors identified. Utilizing 24 questionnaires by the use of Interpretive Structural Modeling framework, the relationship and sequence of factors were obtained from experts. The final model developed in the paper presents the agility factors for the steel industry supply chain. Also, these factors are grouped within the four perspectives of the BSC to better enhance the results and pursue action. The ISM method identifies the priority of each factor which provides a better understanding of the underlying relationship of the factors for the managers to implement the strategies more reliably. The proposed model for strategy formulation can be utilized in strategy formulation problems over various types of supply chain.
Journal: Journal of Business Economics and Management
Pages: 288-308
Issue: 2
Volume: 18
Year: 2017
Month: 3
X-DOI: 10.3846/16111699.2017.1279683
File-URL: http://hdl.handle.net/10.3846/16111699.2017.1279683
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Handle: RePEc:taf:jbemgt:v:18:y:2017:i:2:p:288-308
Template-Type: ReDIF-Article 1.0
Author-Name: Chi Guotai
Author-X-Name-First: Chi
Author-X-Name-Last: Guotai
Author-Name: Mohammad Zoynul Abedin
Author-X-Name-First: Mohammad Zoynul
Author-X-Name-Last: Abedin
Author-Name: Fahmida–E Moula
Author-X-Name-First: Fahmida–E
Author-X-Name-Last: Moula
Title: Modeling credit approval data with neural networks: an experimental investigation and optimization
Abstract:
This study proposes an investigation and optimization of Multi-Layer Perceptron (MLP) based artificial neural networks (ANN) credit prediction model, combine with the effect of different ratios of training to testing instances over five real-world credit databases. As an outcome from the alteration procedure, three different types of hidden units [K = 9 (ANN–1), K = 10 (ANN–2), K = 23 (ANN–3)] are chosen through the pilot experiments and execute, therefore, 45 (5×3×3) unique neural models. Experimental results indicate that “the neural architecture with ten hidden units” is proposed as an optimal approach to classifying the credit information. With these contributions, therefore, we complement previous evidence and modernize the methods of credit prediction modeling. This study, however, has realistic implications for bank managers and other stakeholders to delineate the risk profile of the credit customers.
Journal: Journal of Business Economics and Management
Pages: 224-240
Issue: 2
Volume: 18
Year: 2017
Month: 3
X-DOI: 10.3846/16111699.2017.1280844
File-URL: http://hdl.handle.net/10.3846/16111699.2017.1280844
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Handle: RePEc:taf:jbemgt:v:18:y:2017:i:2:p:224-240
Template-Type: ReDIF-Article 1.0
Author-Name: Lai Van Vo
Author-X-Name-First: Lai Van
Author-X-Name-Last: Vo
Author-Name: Huong Thi Thu Le
Author-X-Name-First: Huong Thi Thu
Author-X-Name-Last: Le
Author-Name: Danh Vinh Le
Author-X-Name-First: Danh Vinh
Author-X-Name-Last: Le
Author-Name: Minh Tuan Phung
Author-X-Name-First: Minh Tuan
Author-X-Name-Last: Phung
Author-Name: Yi-Hsien Wang
Author-X-Name-First: Yi-Hsien
Author-X-Name-Last: Wang
Author-Name: Fu-Ju Yang
Author-X-Name-First: Fu-Ju
Author-X-Name-Last: Yang
Title: Customer satisfaction and corporate investment policies
Abstract:
This paper examines the effect of satisfaction with firms’ products and services on their capital investment policies. Using data from the American Customer Satisfaction Index from 1994 to 2013, the results of the regression models show that firms with higher customer satisfaction will invest more heavily in capital expenditures in the future. The results further show that this positive effect is more pronounced for firms with less growth opportunities or a high cost of capital. This would include those firms with low market-to-book ratios, young and small firms, or firms in more competitive industries. Overall, this study argues that customer satisfaction is an important factor affecting the firm’s investment policy. The findings provide a better understanding of the role of customer satisfaction which can generate growth opportunities, reduce cost and motivate a firm to invest more in capital.
Journal: Journal of Business Economics and Management
Pages: 202-223
Issue: 2
Volume: 18
Year: 2017
Month: 3
X-DOI: 10.3846/16111699.2017.1280845
File-URL: http://hdl.handle.net/10.3846/16111699.2017.1280845
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Handle: RePEc:taf:jbemgt:v:18:y:2017:i:2:p:202-223
Template-Type: ReDIF-Article 1.0
Author-Name: Ingrida Vaiciulyte
Author-X-Name-First: Ingrida
Author-X-Name-Last: Vaiciulyte
Author-Name: Zivile Kalsyte
Author-X-Name-First: Zivile
Author-X-Name-Last: Kalsyte
Author-Name: Leonidas Sakalauskas
Author-X-Name-First: Leonidas
Author-X-Name-Last: Sakalauskas
Author-Name: Darius Plikynas
Author-X-Name-First: Darius
Author-X-Name-Last: Plikynas
Title: Assessment of market reaction on the share performance on the basis of its visualization in 2D space
Abstract:
This paper provides a new methodology for company assessment besides other traditional assessment measures such as share price or forecasts of the analysts. It is suggested to assess the market reaction on change in share price via using graphical approaches. Investors buy shares with the expectation that its price will rise in the future. But sometimes expectations don’t coincide with reality and then shares are sold. This work has been taken into account in the asymmetry between expectations of investors and results. In order to identify the position of a company in 2D space, the paper uses classification algorithm of random forests with data on change in share price during the period of the year in the inputs, and the forecasts of analysts, i.e., whether a price will increase or decrease, for the same year in the outputs. Thus, two clusters of companies are seeking to represent: one of the companies whose changes in share price coincide with investors’ expectations, and another one – on the contrary. This method can be useful to investors, for whom it is important to identify the market reaction about companies from the whole industry or its branches and analyze its trend.
Journal: Journal of Business Economics and Management
Pages: 309-318
Issue: 2
Volume: 18
Year: 2017
Month: 3
X-DOI: 10.3846/16111699.2017.1285348
File-URL: http://hdl.handle.net/10.3846/16111699.2017.1285348
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Handle: RePEc:taf:jbemgt:v:18:y:2017:i:2:p:309-318
Template-Type: ReDIF-Article 1.0
Author-Name: Doojin Ryu
Author-X-Name-First: Doojin
Author-X-Name-Last: Ryu
Title: Comprehensive market microstructure model: considering the inventory holding costs
Abstract:
The purpose of this study is to propose a structural market microstructure model and examine the intraday price and spread dynamics in a highly liquid market. We extend the model of Madhavan, Richardson, and Roomans to devise a comprehensive order indicator model that considers the order duration, order size, market liquidity, and most importantly, inventory holding costs. Our empirical analyses on the KOSPI200 futures market indicate that the inventory holding costs of liquidity suppliers explain a significant portion of model-implied spreads. Meanwhile, the duration and size of traded orders convey significant information content on the inventory holding component. Market liquidity is also an important consideration for futures traders who have to manage their inventory holding costs.
Journal: Journal of Business Economics and Management
Pages: 183-201
Issue: 2
Volume: 18
Year: 2017
Month: 3
X-DOI: 10.3846/16111699.2017.1286380
File-URL: http://hdl.handle.net/10.3846/16111699.2017.1286380
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Handle: RePEc:taf:jbemgt:v:18:y:2017:i:2:p:183-201
Template-Type: ReDIF-Article 1.0
Author-Name: The Editors
Title: Editorial board
Journal:
Pages: ebi-ebi
Issue: 1
Volume: 6
Year: 2005
X-DOI: 10.1080/16111699.2005.9636087
File-URL: http://hdl.handle.net/10.1080/16111699.2005.9636087
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Handle: RePEc:taf:jbemgt:v:6:y:2005:i:1:p:ebi-ebi
Template-Type: ReDIF-Article 1.0
Author-Name: John Saee
Author-X-Name-First: John
Author-X-Name-Last: Saee
Title: Effecitve leadership for the global economy in the 21 century
Abstract: Effective leadership of modern organizations within contemporary global economy in the 21st century is seen as a highly crucial function in organizations and good leadership is the most critical ingredient for successful organizations world over. In this research article, an examination is made of a broad range of theories and conceptualizations of leadership. Differences between managers and leaders are discussed. In addition, the notion of leadership in different cultures is explored which has considerable implications for management of enterprises internationally.
Journal: Journal of Business Economics and Management
Pages: 3-11
Issue: 1
Volume: 6
Year: 2005
X-DOI: 10.1080/16111699.2005.9636088
File-URL: http://hdl.handle.net/10.1080/16111699.2005.9636088
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Handle: RePEc:taf:jbemgt:v:6:y:2005:i:1:p:3-11
Template-Type: ReDIF-Article 1.0
Author-Name: Romualdas Ginevičius
Author-X-Name-First: Romualdas
Author-X-Name-Last: Ginevičius
Author-Name: Renata Korsakiene
Author-X-Name-First: Renata
Author-X-Name-Last: Korsakiene
Title: Exploration of strategy: Objectives, competencies and competitive advantage
Abstract: The notion that all companies should have a strategy is widely accepted. It has to be noted that a company's competitiveness describe objectives, competencies, competitive advantage and strategies. The linkages among objectives, competencies and competitive advantage are influenced by competitive forces in the market. The purpose of this paper is to propose a conceptual framework for analysis of a strategy and to present results of a survey carried out to explore the strategies of Lithuanian construction companies. The determinants of strategy such as objectives, competencies and competitive advantage can further be used as a guide for setting a strategic agenda for construction companies with different characteristics and operating in different markets.
Journal: Journal of Business Economics and Management
Pages: 13-22
Issue: 1
Volume: 6
Year: 2005
X-DOI: 10.1080/16111699.2005.9636089
File-URL: http://hdl.handle.net/10.1080/16111699.2005.9636089
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Handle: RePEc:taf:jbemgt:v:6:y:2005:i:1:p:13-22
Template-Type: ReDIF-Article 1.0
Author-Name: Antanas Makštutis
Author-X-Name-First: Antanas
Author-X-Name-Last: Makštutis
Title: Security cooperation in the Baltic Sea region: Today and future in the world context
Abstract: The paper analyzes the global economic factors of security cooperation in the Baltic Sea region that have an effect on the present and future development of national markets in separate states of this region within the development of the common market of the European Union (EU). It is noted that the EU principal market factors of today: the free movement of people, goods and capital destabilizes the development of a separate state market in the Baltic Sea region, and the tasks of a national state in the future will become still more complicated. The work provides the research results of the factors of a specific geopolitical environment in the Baltic Sea region; the ways and methods are foreseen for solving the future political, economic and social problems in this region under the conditions of globalization.
Journal: Journal of Business Economics and Management
Pages: 33-42
Issue: 1
Volume: 6
Year: 2005
X-DOI: 10.1080/16111699.2005.9636090
File-URL: http://hdl.handle.net/10.1080/16111699.2005.9636090
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Handle: RePEc:taf:jbemgt:v:6:y:2005:i:1:p:33-42
Template-Type: ReDIF-Article 1.0
Author-Name: Avner Ben‐Yair
Author-X-Name-First: Avner
Author-X-Name-Last: Ben‐Yair
Author-Name: Dimitri Golenko‐Ginzburg
Author-X-Name-First: Dimitri
Author-X-Name-Last: Golenko‐Ginzburg
Author-Name: Zohar Laslo
Author-X-Name-First: Zohar
Author-X-Name-Last: Laslo
Title: Harmonized decision‐making in managing reliability and safety
Abstract: A hierarchical technical system functioning under random disturbances and being subject to critical failures at the bottom level which may result in an accident or a hazardous condition including environmental safety violations at the upper level is considered. Certain primary elements at the bottom level, together with their corresponding primary failures, can be refined by undertaking technical improvement. The list of the latter is pre‐given as well. Assume that by means of simulation modeling (SM) it is possible to evaluate the increment of the system's reliability by implementing any set of technical improvements. The harmonization models center on determining an optimal sub‐set of technical improvements in order: either to maximize the system's reliability subject to a restricted budget assigned for the improvements’ implementation, or to minimize the system's budget subject to a reliability value restricted from below.
Journal: Journal of Business Economics and Management
Pages: 43-51
Issue: 1
Volume: 6
Year: 2005
X-DOI: 10.1080/16111699.2005.9636091
File-URL: http://hdl.handle.net/10.1080/16111699.2005.9636091
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Handle: RePEc:taf:jbemgt:v:6:y:2005:i:1:p:43-51
Template-Type: ReDIF-Article 1.0
Author-Name: Manuela Tvaronavičiene
Author-X-Name-First: Manuela
Author-X-Name-Last: Tvaronavičiene
Author-Name: Kristina Kalašinskaite
Author-X-Name-First: Kristina
Author-X-Name-Last: Kalašinskaite
Title: Analysis of privatization: Different approaches
Abstract: Presented paper strives to elaborate privatization as one of national economy development tools. Performance of privatized enterprises has been taken into consideration. The authors examine different opinions about privatization process and its efficiency taking a close look at the researches that have been already made. Analysis has been targeted to implications’ diversity due to foresee those in transition countries. Governance issues in case of privatization of monopolistic enterprises have been discussed.
Journal: Journal of Business Economics and Management
Pages: 53-59
Issue: 1
Volume: 6
Year: 2005
X-DOI: 10.1080/16111699.2005.9636092
File-URL: http://hdl.handle.net/10.1080/16111699.2005.9636092
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Handle: RePEc:taf:jbemgt:v:6:y:2005:i:1:p:53-59
Template-Type: ReDIF-Article 1.0
Author-Name: The Editors
Title: Editorial board
Journal:
Pages: ebi-ebi
Issue: 2
Volume: 7
Year: 2006
X-DOI: 10.1080/16111699.2006.9636121
File-URL: http://hdl.handle.net/10.1080/16111699.2006.9636121
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Handle: RePEc:taf:jbemgt:v:7:y:2006:i:2:p:ebi-ebi
Template-Type: ReDIF-Article 1.0
Author-Name: Marek Lisiński
Author-X-Name-First: Marek
Author-X-Name-Last: Lisiński
Author-Name: Mark Šaruckij
Author-X-Name-First: Mark
Author-X-Name-Last: Šaruckij
Title: Principles of the application of strategic planning methods
Abstract: Strategic planning methods form an extensively developed and interrelated group of dozens of methods used for organisation strategy development. Research has confirmed that only a small amount of firms use strategic planning methods in practice due to different reasons. The publications on strategic planning are devoted mostly to theoretical issues or empirical characteristics of chosen sub‐problems related to this concept of management. The methodological aspects, if at all, are taken into account as marginal or of minor importance. The purpose of this article is to present the principles of strategic planning methods classification and application. The methodology used in this research is based on the taxonomy methods and particularly Ward's method. A total amount of 28 different strategic planning methods were chosen and classified in our study.
Journal: Journal of Business Economics and Management
Pages: 37-43
Issue: 2
Volume: 7
Year: 2006
X-DOI: 10.1080/16111699.2006.9636122
File-URL: http://hdl.handle.net/10.1080/16111699.2006.9636122
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Handle: RePEc:taf:jbemgt:v:7:y:2006:i:2:p:37-43
Template-Type: ReDIF-Article 1.0
Author-Name: Aleksandras Rutkauskas
Author-X-Name-First: Aleksandras
Author-X-Name-Last: Rutkauskas
Author-Name: Jelena Stankeviciene
Author-X-Name-First: Jelena
Author-X-Name-Last: Stankeviciene
Title: Integrated asset and liability portfolio as instrument of liquidity management in the commercial bank
Abstract: Liquidity, or the ability to fund increases in assets and meet obligations as they come due, is crucial to the ongoing viability of any banking organization. Therefore, managing liquidity is among the most important activities conducted by banks. Liquidity management model proposed by the authors can reduce the probability of serious problems. Indeed, the importance of liquidity transcends the individual bank, since a liquidity shortfall at a single institution can have system‐wide repercussions. For this reason, the analysis of liquidity requires bank management not only to measure the liquidity position of the bank on an ongoing basis but also to examine how funding requirements are likely to evolve under various scenarios, including adverse conditions. The authors have focused on developing a greater understanding of the way in which banks can manage their liquidity using a broad potential of integrated asset and liability portfolio. As instrument for the solution of the assessed problem the integrated total commercial bank asset and liability structure formation and management when useful occurrence of integrated structure and every outcome is followed with some guarantee to occur was chosen. An academic example is shown as an illustration for ideas analyzed. The formality and sophistication of the process used to manage liquidity depends on the size and sophistication of the bank, as well as the nature and complexity of its activities. The principles focused in the paper have broad applicability to all banks. In particular, good management information systems, analysis of net funding requirements under alternative scenarios, diversification of funding sources, and contingency planning are crucial elements of strong liquidity management at a bank of any size or scope of operations.
Journal: Journal of Business Economics and Management
Pages: 45-57
Issue: 2
Volume: 7
Year: 2006
X-DOI: 10.1080/16111699.2006.9636123
File-URL: http://hdl.handle.net/10.1080/16111699.2006.9636123
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Handle: RePEc:taf:jbemgt:v:7:y:2006:i:2:p:45-57
Template-Type: ReDIF-Article 1.0
Author-Name: Herbert Grüner
Author-X-Name-First: Herbert
Author-X-Name-Last: Grüner
Title: Entrepreneurship in Germany and the role of the new self‐employed
Abstract: In the following article we show the meaning of entrepreneurship and self employment for the German economy after the reunification. We flashlight the German founding boom since 2003, as new labour market policy instruments have been developed and financed. On the basis of three regional investigations we compared the new self‐employed according to: social and vocational‐biographical development, motivation and nature of business founded, founding qualifications and qualification strategies.
Journal: Journal of Business Economics and Management
Pages: 59-67
Issue: 2
Volume: 7
Year: 2006
X-DOI: 10.1080/16111699.2006.9636124
File-URL: http://hdl.handle.net/10.1080/16111699.2006.9636124
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Handle: RePEc:taf:jbemgt:v:7:y:2006:i:2:p:59-67
Template-Type: ReDIF-Article 1.0
Author-Name: Manuela Tvaronaviciene
Author-X-Name-First: Manuela
Author-X-Name-Last: Tvaronaviciene
Title: Investment driving forces afecting Lithuanian economic growth
Abstract: Presented publication presents a complex research model embracing a series of investigations related to assessment of driving forces affecting economic growth processes in Lithuania. New approach towards impact of foreign direct investment (FDI) on economic development of transition country is emphasized. Speculations on FDI efficiency follow elaboration of factors initiating FDI. FDI and foreign trade are seen as specific factors affecting restructuring of transition country as it follows consistent patterns of development. Policy implications are formulated.
Journal: Journal of Business Economics and Management
Pages: 69-76
Issue: 2
Volume: 7
Year: 2006
X-DOI: 10.1080/16111699.2006.9636125
File-URL: http://hdl.handle.net/10.1080/16111699.2006.9636125
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Handle: RePEc:taf:jbemgt:v:7:y:2006:i:2:p:69-76
Template-Type: ReDIF-Article 1.0
Author-Name: Martin Schieg
Author-X-Name-First: Martin
Author-X-Name-Last: Schieg
Title: Risk management in construction project management
Abstract: By adopting risk management, savings potentials can be realized in construction projects. For this reason, for project managers as well as real estate developers, a consideration of the risk management process is worthwhile. The risk management process comprises 6 process steps, which will be discussed in greater detail below. The integration of a risk management system in construction projects must be oriented to the progress of the project and permeate all areas, functions and processes of the project. In this, particular importance is attached to the risks in the personnel area, for, particularly for enterprises providing highly qualified services, specialized employees are essential for market success.
Journal: Journal of Business Economics and Management
Pages: 77-83
Issue: 2
Volume: 7
Year: 2006
X-DOI: 10.1080/16111699.2006.9636126
File-URL: http://hdl.handle.net/10.1080/16111699.2006.9636126
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Handle: RePEc:taf:jbemgt:v:7:y:2006:i:2:p:77-83
Template-Type: ReDIF-Article 1.0
Author-Name: Virginija Grybaite
Author-X-Name-First: Virginija
Author-X-Name-Last: Grybaite
Title: Analysis of theoretical approaches to gender pay gap
Abstract: The number of women in the world labour force is growing. Nevertheless, in spite of women's large share in the labour force, many gender inequities in the labour market, such as gender specific jobs, pay inequities are observed. Women and men do not receive equal pay for equal work. Wage discrimination is reality. Women on average have lower incomes, lower wages and less advantageous terms of employment than men. The purpose of this article is to review main theoretical approaches to the basic economic question about the gender pay gap: why do, women, on average earn less than men. Attention has been focused on basic theoretical approaches: human capital model, labour market discrimination and theory of occupational segregation. The paper is based on empirical data from Lithuania and other European Union countries.
Journal: Journal of Business Economics and Management
Pages: 85-91
Issue: 2
Volume: 7
Year: 2006
X-DOI: 10.1080/16111699.2006.9636127
File-URL: http://hdl.handle.net/10.1080/16111699.2006.9636127
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Handle: RePEc:taf:jbemgt:v:7:y:2006:i:2:p:85-91
Template-Type: ReDIF-Article 1.0
Author-Name: Aras Zirgulis
Author-X-Name-First: Aras
Author-X-Name-Last: Zirgulis
Author-Name: Tadas Šarapovas
Author-X-Name-First: Tadas
Author-X-Name-Last: Šarapovas
Title: Impact of corporate taxation on unemployment
Abstract:
We study the effect of corporate taxation on unemployment utilizing a dynamic panel covering 41 countries over 11 years. The purpose of this article is to investigate how changes in the corporate income tax affect unemployment. We employ system general method of moments (GMM) due to peculiarities of the data set and the endogeneity issues present in the research problem. We find that a rise in the effective average corporate tax rate significantly increases unemployment levels, which directly contradicts past findings of some seminal authors. In addition, the present research supports findings of past studies on capital tax elasticity that obtained similar insights using differing methodologies. This research lays the groundwork for future studies, which may take the same methodology and apply it to even larger international panels. This research implies that international tax competition is affecting unemployment, presumably through its effects on international capital investment. These results provide support for policy makers who may be wary of raising corporate tax rates in countries where capital is especially mobile because of the negative effects which may accumulate to the voting public in the form of unemployment.
Journal: Journal of Business Economics and Management
Pages: 412-426
Issue: 3
Volume: 18
Year: 2017
Month: 5
X-DOI: 10.3846/16111699.2016.1278400
File-URL: http://hdl.handle.net/10.3846/16111699.2016.1278400
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Handle: RePEc:taf:jbemgt:v:18:y:2017:i:3:p:412-426
Template-Type: ReDIF-Article 1.0
Author-Name: Silvia Cachero-Martínez
Author-X-Name-First: Silvia
Author-X-Name-Last: Cachero-Martínez
Author-Name: Rodolfo Vázquez-Casielles
Author-X-Name-First: Rodolfo
Author-X-Name-Last: Vázquez-Casielles
Title: Living positive experiences in store: how it influences shopping experience value and satisfaction?
Abstract:
Retailers have tried to differentiate themselves from their competitors through shopping experience. This is the first study analysing relationships between experience dimensions, shopping experience value and satisfaction. In this article different shopping experience dimensions are identified: emotional, sensory, intellectual, social, and pragmatic. In-depth interviews were conducted with a panel of experts to adapt a set of experience dimensions identified from the literature to the offline environment. A survey was then designed to collect data from consumers who had bought in a retailer, where marketing strategies are linked with experience dimensions. Retailers may use this typology in order to re-design their marketing strategies. Retailers must invest in utilitarian attributes of product assortment offered to consumers, improving quality while maintaining prices and promotions. If a retailer can stimulate social shopping and consumer curiosity, such as imagination and creativity in the store, they will have more devoted consumers.
Journal: Journal of Business Economics and Management
Pages: 537-553
Issue: 3
Volume: 18
Year: 2017
Month: 5
X-DOI: 10.3846/16111699.2017.1292311
File-URL: http://hdl.handle.net/10.3846/16111699.2017.1292311
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Handle: RePEc:taf:jbemgt:v:18:y:2017:i:3:p:537-553
Template-Type: ReDIF-Article 1.0
Author-Name: Sven Kunisch
Author-X-Name-First: Sven
Author-X-Name-Last: Kunisch
Title: Does headquarter structure follow corporate strategy? an empirical study of antecedents and consequences of changes in the size of corporate headquarters
Abstract:
Despite the importance that scholars and practicing managers attribute to the organizational design of the corporate headquarters (CHQ), research on changes in CHQ size is lacking. In an attempt to empirically explore the antecedents and potential consequences of such changes, I draw on the contingency and organizational-adaptation perspectives to develop a set of hypotheses for the relationships between corporate-level strategic change (CSC) – defined as changes in the firm’s business portfolio –, changes in the size of the CHQ and firm performance. To test the hypotheses, I analyse data from a comprehensive survey of large public firms in Europe and the US, and data from public sources pertaining to the surveyed firms. While the empirical results lend support to the hypothesized role of CSC, they also reveal differences between related CSC and unrelated CSC. However, I find no support for the expected performance implications. The study contributes to research on the CHQ, corporate-level strategic change, and the relationship between strategy and structure in the contemporary corporation. The findings also inform corporate managers and those involved in advising firms, such as strategy consultants.
Journal: Journal of Business Economics and Management
Pages: 390-411
Issue: 3
Volume: 18
Year: 2017
Month: 5
X-DOI: 10.3846/16111699.2017.1295277
File-URL: http://hdl.handle.net/10.3846/16111699.2017.1295277
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Handle: RePEc:taf:jbemgt:v:18:y:2017:i:3:p:390-411
Template-Type: ReDIF-Article 1.0
Author-Name: Chiung-Hui Tseng
Author-X-Name-First: Chiung-Hui
Author-X-Name-Last: Tseng
Title: Solving the ally-versus-acquire dilemma through the dual lenses of subjective and objective views
Abstract:
Nowadays many firms seek hard-to-imitate assets via allying with or acquiring other firms that own desired resources. As such, how to choose between alliances and acquisitions becomes a critical decision, and one important determinant is interfirm factors. This study probes three crucial yet underexplored interfirm differences, and develops scales to capture managers’ perceptions of the differences that, based on managerial cognition literature, dictate the ally-versus-acquire choice. Further, we argue that managers adjust their judgement across varying objective conditions. Each perceived difference is thus paired with a moderator identified respectively from the resource-based view, competitive dynamics, and collaborative capability literature. Evidences on Taiwanese firms show that a larger resource-deployment difference enhances acquisition likelihood, while greater differences in marketing praxis and human resource management increase alliance formation. Moreover, the resource-deployment difference leads to alliances for relatively younger partners, and the difference in human resource management favors acquisitions when focal firms have more interfirm governance experience.
Journal: Journal of Business Economics and Management
Pages: 373-389
Issue: 3
Volume: 18
Year: 2017
Month: 5
X-DOI: 10.3846/16111699.2017.1312512
File-URL: http://hdl.handle.net/10.3846/16111699.2017.1312512
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Handle: RePEc:taf:jbemgt:v:18:y:2017:i:3:p:373-389
Template-Type: ReDIF-Article 1.0
Author-Name: Tomas Baležentis
Author-X-Name-First: Tomas
Author-X-Name-Last: Baležentis
Author-Name: Dalia Štreimikienė
Author-X-Name-First: Dalia
Author-X-Name-Last: Štreimikienė
Author-Name: Rasa Melnikienė
Author-X-Name-First: Rasa
Author-X-Name-Last: Melnikienė
Author-Name: Zhiqian Yu
Author-X-Name-First: Zhiqian
Author-X-Name-Last: Yu
Title: Non-parametric analysis of yield risk in Lithuanian crop farming
Abstract:
Socioeconomic development requires meeting the goals of food security. Yield risk constitutes an important factor of farming business viability. As the Central and Eastern European countries have been affected by both economic and environmental transformations, there is a need to develop a robust methodology for assessment of yield risks in order to propose convincing guidelines for both farmers and government institutions in regards to risk management and viability of agricultural business in general. This paper attempts to devise non-parametric measures of yield risk for Lithuanian crop farming. The research covers the period of 2000–2015. County-level data from Statistics Lithuania are employed for the analysis. The non-parametric analysis of yield risk relies on information diffusion theory and linear moving average. The results indicate that there exist differences in yield trends, yield loss rates and yield risk among crops and regions. Maize, buckwheat and winter rape exhibited the highest yield risk. These results shed light on the extent of yield risks underlying crop farming in Lithuania and, to a certain extent, can be contrasted to situation in Central and Eastern European countries. Indeed, the obtained results can be applied in decision making at different levels of management.
Journal: Journal of Business Economics and Management
Pages: 521-536
Issue: 3
Volume: 18
Year: 2017
Month: 5
X-DOI: 10.3846/16111699.2017.1322633
File-URL: http://hdl.handle.net/10.3846/16111699.2017.1322633
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Handle: RePEc:taf:jbemgt:v:18:y:2017:i:3:p:521-536
Template-Type: ReDIF-Article 1.0
Author-Name: Marinko Škare
Author-X-Name-First: Marinko
Author-X-Name-Last: Škare
Author-Name: Damian Škare
Author-X-Name-First: Damian
Author-X-Name-Last: Škare
Title: Is the great decoupling real?
Abstract:
The great decoupling is real. Productivity and employment/wages link changed after 1980 in many countries, not just the U.S. This study investigates the productivity and employment/wages link (1950–2014) looking for empirical proof of the “great decoupling” put forward by Brynjolfsson and Mcafee (2013). The results should stimulate policymakers to openly question why real wages and productivity don’t line up with the theory. We use the Hodrick and Prescott (1997) filter to isolate trends in real wages, labor share in GDP, and labor productivity and rolling correlation to explore if the great decoupling is real. We have found that the great decoupling i.e. the divergence between real wages/employment and productivity is present in all countries (10 in the sample). The dynamics of the great decoupling are however different between the countries although year 1980 seems to be a dominant breaking point for the start of the phenomena. This paper provides multicounty empirical proof of the presence of the great decoupling phenomena and explores its dynamics over 1950–2014. Policy makers as well as firms and unions should take the existence of this phenomena seriously since it can have significant consequences on economic growth and labor markets’ functioning.
Journal: Journal of Business Economics and Management
Pages: 451-467
Issue: 3
Volume: 18
Year: 2017
Month: 5
X-DOI: 10.3846/16111699.2017.1323793
File-URL: http://hdl.handle.net/10.3846/16111699.2017.1323793
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Handle: RePEc:taf:jbemgt:v:18:y:2017:i:3:p:451-467
Template-Type: ReDIF-Article 1.0
Author-Name: Pınar Kaya Samut
Author-X-Name-First: Pınar
Author-X-Name-Last: Kaya Samut
Title: Integrated FANP-f-MIGP model for supplier selection in the renewable energy sector
Abstract:
The available integrated models for choosing efficient suppliers developed so far are mostly specific to companies with mass production capabilities. However, in some sectors involved in project-type manufacturing, the same decision-making criteria cannot be applied and, plus, there is no point in determining the quantity of orders. For instance, in wind power plant projects, a single turbine supplier needs to be selected for each project. This study proposes an integrated FANP-f-MIGP model that ensures the selection of the optimal supplier for each project by applying the model to an energy firm. The criteria specific to the selection of wind power plant turbine suppliers are established, and the criteria weights are obtained by fuzzy analytic network process (FANP). As a result of the analysis, the most important criterion of all is cost. These weights constitute the coefficients of the f-MIGP model’s objective function. Under the defined constraints, by minimizing cost and risk and maximizing quality and services of the firm, the selection of an optimal wind turbine supplier from three suppliers for each of three projects is ensured. This study contributes to the literature both by the specific criteria it establishes and its proposed integrated model which allows for the selection of the best supplier in wind turbine and similar project-based productions.
Journal: Journal of Business Economics and Management
Pages: 427-450
Issue: 3
Volume: 18
Year: 2017
Month: 5
X-DOI: 10.3846/16111699.2017.1325777
File-URL: http://hdl.handle.net/10.3846/16111699.2017.1325777
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Handle: RePEc:taf:jbemgt:v:18:y:2017:i:3:p:427-450
Template-Type: ReDIF-Article 1.0
Author-Name: Seung Ho Yoo
Author-X-Name-First: Seung Ho
Author-X-Name-Last: Yoo
Author-Name: Yong Won Seo
Author-X-Name-First: Yong Won
Author-X-Name-Last: Seo
Title: Effect of supply chain structure and power dynamics on R&D and market performances
Abstract:
This study is the first investigating the effect of supply chain structure and players’ power dynamics on a supply chain’s R&D and market performances. We consider a three-stage supply chain, consisting of a R&D firm, a manufacturer, and a seller. We develop six supply chain models based on various structures and power dynamics, and reveal important implications by comparing the models. R&D performance is a function of supply chain structure; an integrated supply chain can expect improved performance. The selling price is a function of power dynamics, and is higher when R&D has bargaining power. Market and profit performances are higher in an integrated, manufacturer-led supply chain. The manufacturer’s role must be revisited; due to its location in the middle of the supply chain, the manufacturer can directly control the overall chain. On the other hand, a R&D firm could innately be associated with marginalization issues. Therefore, it is important for the R&D firm to have a systematic understanding of the entire system. This study contributes to the literature and practice by not only bridging the gap in the previous studies but also offering important managerial implications.
Journal: Journal of Business Economics and Management
Pages: 487-504
Issue: 3
Volume: 18
Year: 2017
Month: 5
X-DOI: 10.3846/16111699.2017.1326979
File-URL: http://hdl.handle.net/10.3846/16111699.2017.1326979
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Handle: RePEc:taf:jbemgt:v:18:y:2017:i:3:p:487-504
Template-Type: ReDIF-Article 1.0
Author-Name: Kamilė Taujanskaitė
Author-X-Name-First: Kamilė
Author-X-Name-Last: Taujanskaitė
Author-Name: Eugenijus Milčius
Author-X-Name-First: Eugenijus
Author-X-Name-Last: Milčius
Author-Name: Nomeda Dobrovolskienė
Author-X-Name-First: Nomeda
Author-X-Name-Last: Dobrovolskienė
Title: Use of quantitative criteria in the management of personal consumption expenditure: challenges and opportunities
Abstract:
Various non-economic factors, like social, cultural, psychologic and others strongly affect the decision-making related to the management of personal consumption expenditure (PCE) in households and often compromise its efficiency. PCE management tools and methods currently used by households are not helpful either as rational distribution of funds among the purchases is usually out of their scope. Therefore, rational use of resources still remains a challenging task for many households. The goal of this study is to analyse the PCE management process in households and the obstacles preventing its efficiency. Methods used in the article comprise: comparative and critical analysis methods; vector analysis tools. The paper identifies shortcomings of currently used PCE management methods and tools and introduces a system of quantitative criteria enabling objective evaluation of consumption alternatives. The use of quantitative criteria limits the influence of subjective, non-economic factors on consumption-related resource management in households and can positively affect its efficiency. The criteria are justified theoretically and the benefits from their use demonstrated with some practical evidence.
Journal: Journal of Business Economics and Management
Pages: 468-486
Issue: 3
Volume: 18
Year: 2017
Month: 5
X-DOI: 10.3846/16111699.2017.1327456
File-URL: http://hdl.handle.net/10.3846/16111699.2017.1327456
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Handle: RePEc:taf:jbemgt:v:18:y:2017:i:3:p:468-486
Template-Type: ReDIF-Article 1.0
Author-Name: Yan Song
Author-X-Name-First: Yan
Author-X-Name-Last: Song
Author-Name: Shuang Yao
Author-X-Name-First: Shuang
Author-X-Name-Last: Yao
Author-Name: Donghua Yu
Author-X-Name-First: Donghua
Author-X-Name-Last: Yu
Author-Name: Yan Shen
Author-X-Name-First: Yan
Author-X-Name-Last: Shen
Title: Risky multi-criteria group decision making on green capacity investment projects based on supply chain
Abstract:
Green capacity investment projects have rapidly emerged involving suppliers, customers, and manufacturing organizations in supply chain systems with environmental challenges. This paper focuses on and identifies both primary strategic and operational elements that will aid managers in evaluating and making risky multi-criteria decisions on green capacity investment projects. We propose a cloud prospect value consensus process consisting of feedback and adjustment mechanisms that provide modification instructions to the corresponding decision makers for a decision matrix based on the cloud model and prospect theory, which considers psychological behavior, disagreements between decision makers, and the ambiguity of linguistic variable assessment across multi-criteria risks. The new model increases the efficiency and accuracy of decision making. To verify the feasibility and validity of the Cloud Prospect Value Consensus Degree based on the Feedback adjustment mechanism, its performance is compared with three state-of-the-art multi-criteria group decision-making methods.
Journal: Journal of Business Economics and Management
Pages: 355-372
Issue: 3
Volume: 18
Year: 2017
Month: 5
X-DOI: 10.3846/16111699.2017.1331461
File-URL: http://hdl.handle.net/10.3846/16111699.2017.1331461
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Handle: RePEc:taf:jbemgt:v:18:y:2017:i:3:p:355-372
Template-Type: ReDIF-Article 1.0
Author-Name: Živilė Tunčikienė
Author-X-Name-First: Živilė
Author-X-Name-Last: Tunčikienė
Author-Name: Rolandas Drejeris
Author-X-Name-First: Rolandas
Author-X-Name-Last: Drejeris
Title: Assessment of business conditions benevolence: case of occupational safety and health services
Abstract:
The aim of the article is to find solutions for assessing the benevolence of business conditions in existing circumstances. The business situation in the area of occupational safety and health (OSH) services was investigated in order to assess possibilities to start up this kind of commercial activity. The proposed methodology of assessment is tested only on the basis of occupational safety and health services, but the sequence and the content of the provided actions for assessment may be also used for initiating any other kinds of business. Systematic approach has been applied to searching for solutions primarily to assess general aspects which are then narrowed down to the assessment of smaller issues. Suitability of theoretical decisions has been tested in real business conditions. In order to assess the benevolence of business conditions in the current situation before starting up a certain business, the article provides certain assessment measures and their application techniques. Applying the chosen methodology may help to start a new business smoother, develop the existing one and thus achieve better results.
Journal: Journal of Business Economics and Management
Pages: 505-520
Issue: 3
Volume: 18
Year: 2017
Month: 5
X-DOI: 10.3846/16111699.2017.1333524
File-URL: http://hdl.handle.net/10.3846/16111699.2017.1333524
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Handle: RePEc:taf:jbemgt:v:18:y:2017:i:3:p:505-520
Template-Type: ReDIF-Article 1.0
Author-Name: Tatjana Põlajeva
Author-X-Name-First: Tatjana
Author-X-Name-Last: Põlajeva
Title: Business negotiations: communication in the bargaining process
Journal: Journal of Business Economics and Management
Pages: 554-559
Issue: 3
Volume: 18
Year: 2017
Month: 5
X-DOI: 10.3846/16111699.2017.1333525
File-URL: http://hdl.handle.net/10.3846/16111699.2017.1333525
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Handle: RePEc:taf:jbemgt:v:18:y:2017:i:3:p:554-559
Template-Type: ReDIF-Article 1.0
Author-Name: Blanca L. Delgado-Márquez
Author-X-Name-First: Blanca L.
Author-X-Name-Last: Delgado-Márquez
Author-Name: J. Alberto Aragón-Correa
Author-X-Name-First: J. Alberto
Author-X-Name-Last: Aragón-Correa
Author-Name: Eulogio Cordón-Pozo
Author-X-Name-First: Eulogio
Author-X-Name-Last: Cordón-Pozo
Author-Name: Luis Enrique Pedauga
Author-X-Name-First: Luis Enrique
Author-X-Name-Last: Pedauga
Title: Trust when financial implications are not the aim: the integration of sustainability into management education
Abstract:
Literature has paid detailed attention to the positive financial implications of considering the stakeholders’ environmental concerns. This paper contributes by using a trust framework to delimitate how stakeholders may influence managers’ environmental decisions even if they are not focused on financial objectives. Specifically, we analyse how perceptions of academic department heads about their stakeholders’ ability and benevolence influence the head’s willingness to integrate sustainability issues into the syllabus of the courses. We also investigate the direct and moderating role of the heads’ interest in financial aims and the direct influence of the school environmental proactivity. Our analysis includes a sample of 74 deans in 46 different business and engineering schools and a sample of 95 department heads in the field of management studies of 25 Spanish universities. The hierarchical moderated regression results confirm the positive influence of the ability and benevolence of the stakeholders and the heads’ interest in the financial aims, but not the moderating effects and the influence of the school proactivity. The paper provides research implications on the stakeholders’ dimensions influencing environmental decisions and practical implications showing that managers of organisations who wish to advance their environmental approaches may use partnerships with their stakeholders based upon trust.
Journal: Journal of Business Economics and Management
Pages: 1172-1188
Issue: 6
Volume: 17
Year: 2016
Month: 11
X-DOI: 10.3846/16111699.2015.1046400
File-URL: http://hdl.handle.net/10.3846/16111699.2015.1046400
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Handle: RePEc:taf:jbemgt:v:17:y:2016:i:6:p:1172-1188
Template-Type: ReDIF-Article 1.0
Author-Name: Md. Nur Alam Siddik
Author-X-Name-First: Md. Nur Alam
Author-X-Name-Last: Siddik
Author-Name: Gang Sun
Author-X-Name-First: Gang
Author-X-Name-Last: Sun
Author-Name: Sajal Kabiraj
Author-X-Name-First: Sajal
Author-X-Name-Last: Kabiraj
Author-Name: Joghee Shanmugan
Author-X-Name-First: Joghee
Author-X-Name-Last: Shanmugan
Author-Name: Cui Yanjuan
Author-X-Name-First: Cui
Author-X-Name-Last: Yanjuan
Title: Impacts of e-banking on performance of banks in a developing economy: empirical evidence from Bangladesh
Abstract:
E-banking has become one of the most popular methods of banking that has experienced a considerable expansion during the last few years. However, there is relative dearth of empirical studies examining the impact of e-banking on performance of banks. Though e-banking is gaining acceptance in Bangladesh, impact of e-banking on bank’s performance is yet to be established. This paper fills this gap. Using panel data of 13 banks over the period of 2003–2013, this study empirically investigated the impact of e-banking on the performance of Bangladeshi banks measured in terms of Return on Equity, Return on Assets and Net Interest Margin. Results from pooled ordinary least square analysis show that e-banking begins to contribute positively to banks’ Return on Equity with a time lag of two years while a negative impact was found in first year of adoption. Empirical findings of this study is of greater significance for the developing countries like Bangladesh because it will invoke the attention of the bank management and policy makers to pursue such policies to expand e-banking. This study also contributes to empirical literatures by reconfirming (or otherwise) findings of previous studies.
Journal: Journal of Business Economics and Management
Pages: 1066-1080
Issue: 6
Volume: 17
Year: 2016
Month: 11
X-DOI: 10.3846/16111699.2015.1068219
File-URL: http://hdl.handle.net/10.3846/16111699.2015.1068219
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Handle: RePEc:taf:jbemgt:v:17:y:2016:i:6:p:1066-1080
Template-Type: ReDIF-Article 1.0
Author-Name: Sekyung Oh
Author-X-Name-First: Sekyung
Author-X-Name-Last: Oh
Author-Name: Woo Sung Kim
Author-X-Name-First: Woo Sung
Author-X-Name-Last: Kim
Title: Effect of ownership change and growth on firm value at the issuance of bonds with detachable warrants
Abstract:
This paper empirically explores the relationship between the issuance of bonds with detachable warrants and firm value and the relationship between growth and firm value at the issuance of such bonds. Twelve years of data for 721 issuances of 451 Korean listed firms are analyzed using a panel regression model. We find that at the issuance of bonds with detachable warrants, the change in firm value is strongly correlated with large shareholder ownership concentration and issuance form, and the effect of growth on firm value is strongly correlated with the cash flow condition of the issuing firm. The results indicate that the ownership structure and the cash flow condition of the issuing firm and the form of issuance are important determinants of the relationship between the issuance of bonds with detachable warrants and firm value; these results are applicable to an analysis of the mixed market reactions of convertible bonds or bonds with warrants issues across different countries. They also offer the policy implication that the Korean government’s decision to entirely prohibit firms from issuing bonds with detachable warrants may have been excessive.
Journal: Journal of Business Economics and Management
Pages: 901-915
Issue: 6
Volume: 17
Year: 2016
Month: 11
X-DOI: 10.3846/16111699.2015.1072109
File-URL: http://hdl.handle.net/10.3846/16111699.2015.1072109
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Handle: RePEc:taf:jbemgt:v:17:y:2016:i:6:p:901-915
Template-Type: ReDIF-Article 1.0
Author-Name: Sonia Baños-Caballero
Author-X-Name-First: Sonia
Author-X-Name-Last: Baños-Caballero
Author-Name: Pedro J. García-Teruel
Author-X-Name-First: Pedro J.
Author-X-Name-Last: García-Teruel
Author-Name: Pedro Martínez-Solano
Author-X-Name-First: Pedro
Author-X-Name-Last: Martínez-Solano
Title: Financing of working capital requirement, financial flexibility and SME performance
Abstract:
This paper investigates the relation between the financing strategies of working capital requirement and firm performance for the period 1997 to 2012. Using the two-step generalized method of moments estimator, we find that a suitable financing strategy can help firms improve their performance. Moreover, the results indicate that the working capital requirement financing-performance relation changes during a financial crisis. Finally, we also find that this relation depends on a firm’s financial flexibility. The findings are of interest for managers and researchers and show that managers should not only be concerned about investing in working capital requirement but also consider how this investment is to be financed. To the best of our knowledge, this is the first paper to analyse how the financing strategy selected by firms to finance their working capital requirement affects their performance.
Journal: Journal of Business Economics and Management
Pages: 1189-1204
Issue: 6
Volume: 17
Year: 2016
Month: 11
X-DOI: 10.3846/16111699.2015.1081272
File-URL: http://hdl.handle.net/10.3846/16111699.2015.1081272
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Handle: RePEc:taf:jbemgt:v:17:y:2016:i:6:p:1189-1204
Template-Type: ReDIF-Article 1.0
Author-Name: Amparo Baviera-Puig
Author-X-Name-First: Amparo
Author-X-Name-Last: Baviera-Puig
Author-Name: Juan Buitrago-Vera
Author-X-Name-First: Juan
Author-X-Name-Last: Buitrago-Vera
Author-Name: Carmen Escriba-Perez
Author-X-Name-First: Carmen
Author-X-Name-Last: Escriba-Perez
Title: Geomarketing models in supermarket location strategies
Abstract:
Choosing where to open a new outlet is a critical decision for retail firms. Building on the multiplicative competitive interaction model from retail location theory, this paper develops a geomarketing model that can be used to devise supermarket location strategies. First, attributes that explain a supermarket’s pull on consumers were determined. These attributes included objective (taken from databases and empirical observation) and subjective (based on managerial judgements) variables relating to the supermarket and its trade area. Then, geographic information system tools were used to analyse real data at a highly detailed level (road section). From a geomarketing viewpoint, the model shows that sociodemographic characteristics of the supermarket’s trade area affect firms’ location strategies. The paper also discusses improvements for calibrating and validating this model. Adding the spatial organization of supermarkets to the model yields a different consumer behaviour pattern. This geomarketing model can help managers to design supermarket location strategies according to shop features, competitors and environment, whilst estimating supermarket sales.
Journal: Journal of Business Economics and Management
Pages: 1205-1221
Issue: 6
Volume: 17
Year: 2016
Month: 11
X-DOI: 10.3846/16111699.2015.1113198
File-URL: http://hdl.handle.net/10.3846/16111699.2015.1113198
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Handle: RePEc:taf:jbemgt:v:17:y:2016:i:6:p:1205-1221
Template-Type: ReDIF-Article 1.0
Author-Name: Tomasz Brzęczek
Author-X-Name-First: Tomasz
Author-X-Name-Last: Brzęczek
Title: Using portfolio theory to predict the impact of reduction in product width on sales
Abstract:
Modern portfolio theory was applied to research product portfolio diversification. Prior research studies claimed a positive relationship between the number and variety of products and sales smoothing. However, they have also argued the limitations of classical portfolio analysis, especially owing to the assumption of independence of portfolio shares and the static nature of the approach. To address this limitation we extend the model to fit the trend and seasonality of sales, and to cover their correlations. The model aims to predict the impact of product width reduction on sales and their volatility. We consider the reduction of a product category in portfolio. The model covers the impact of product category sales on portfolio sales but also on other product category sales. Finally, we verify the model using a wholesaler company’s data and compare results. Hence, we recommend the model for the prediction of changes in sales and their volatility due to product category reduction. The model covers the portfolio dynamic approach to product width under the assumption of price taking, unlike in product assortment and variety planning models.
Journal: Journal of Business Economics and Management
Pages: 1222-1236
Issue: 6
Volume: 17
Year: 2016
Month: 11
X-DOI: 10.3846/16111699.2015.1120769
File-URL: http://hdl.handle.net/10.3846/16111699.2015.1120769
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Handle: RePEc:taf:jbemgt:v:17:y:2016:i:6:p:1222-1236
Template-Type: ReDIF-Article 1.0
Author-Name: Chih-Han Kao
Author-X-Name-First: Chih-Han
Author-X-Name-Last: Kao
Author-Name: Cheng-Han Huang
Author-X-Name-First: Cheng-Han
Author-X-Name-Last: Huang
Author-Name: Mark Shu-Chien Hsu
Author-X-Name-First: Mark Shu-Chien
Author-X-Name-Last: Hsu
Author-Name: I-Hung Tsai
Author-X-Name-First: I-Hung
Author-X-Name-Last: Tsai
Title: Success factors for Taiwanese contractors collaborating with local Chinese contractors in construction projects
Abstract:
Regional trade cooperation has become an important component of construction industry due to the Free Trade Agreement. This segment of the market presents many challenges for construction firms. Establishing suitable international partnering relations is an effective strategy for adapting to the additional unpredictability of international markets. This research integrates the Balanced Scorecard system with Fuzzy Analytic Hierarchy Process for comprehensive and quantitative evaluation of the relevant bilateral cooperation. Commercial cooperation across the Taiwan Strait is selected as a case study for determining the evaluating methodology. After examining data from Chinese firms, 12 factors for partner selection are identified. The factors are compared with practical conditions of worldwide and local markets to establish their viability. The methodology provides a framework for evaluating potential partners when attempting to enter foreign markets. Additionally, it identifies critical factors for developing optimal market entrance strategies, contracts, and risk management; results can also be golcally (globally and locally) tailored to promote the efficiency of international cooperation.
Journal: Journal of Business Economics and Management
Pages: 1007-1021
Issue: 6
Volume: 17
Year: 2016
Month: 11
X-DOI: 10.3846/16111699.2015.1137486
File-URL: http://hdl.handle.net/10.3846/16111699.2015.1137486
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Handle: RePEc:taf:jbemgt:v:17:y:2016:i:6:p:1007-1021
Template-Type: ReDIF-Article 1.0
Author-Name: Joaquim Ramos Silva
Author-X-Name-First: Joaquim Ramos
Author-X-Name-Last: Silva
Author-Name: Mário Franco
Author-X-Name-First: Mário
Author-X-Name-Last: Franco
Author-Name: André Magrinho
Author-X-Name-First: André
Author-X-Name-Last: Magrinho
Title: Empirical investigation of the effects of industry type and firm size on export barriers
Abstract:
This study aims to explore the importance of export barriers and to achieve this by comparing different industry types and firm sizes. We performed a cross-sectional study of 529 Portuguese export firms drawn from the database held by a Portuguese Industrial Association – Business Confederation. From multivariate analysis of variance and the Tukey’s HSD (Honestly Significant Difference) test, we conclude that the more important export barriers mentioned by the firms proved more external than internal. Our results also show that the service and retail trade sectors were the sectors reporting the greatest peculiarities regarding export barriers. Thus, we identify an “industry effect” as regards export barriers even while our findings do not indicate any “size effect”. Knowing the industry-specific export barriers enables companies not only to better coordinate and perform export processes but also to better anticipate the behaviour of their competitors. Other practical and theoretical implications will also be presented.
Journal: Journal of Business Economics and Management
Pages: 1052-1065
Issue: 6
Volume: 17
Year: 2016
Month: 11
X-DOI: 10.3846/16111699.2016.1143874
File-URL: http://hdl.handle.net/10.3846/16111699.2016.1143874
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Handle: RePEc:taf:jbemgt:v:17:y:2016:i:6:p:1052-1065
Template-Type: ReDIF-Article 1.0
Author-Name: Eloy Gil Cordero
Author-X-Name-First: Eloy
Author-X-Name-Last: Gil Cordero
Author-Name: Francisco Javier Rondan Cataluña
Author-X-Name-First: Francisco Javier
Author-X-Name-Last: Rondan Cataluña
Author-Name: Manuel Rey Moreno
Author-X-Name-First: Manuel
Author-X-Name-Last: Rey Moreno
Title: Influence of macroeconomic indices on European private labels
Abstract:
In this study, we have analysed the impact and evolution of some of the most important macroeconomic indices on market share and value of private labels. The originality of this paper is the linkage of macroeconomic variables of European countries and the evolution of private labels in these nations. This relationship may show the development of commercial distribution with regard to macroeconomic indices. A sample of 13 European countries and a period of 14 years have been collected, including data of private brands and macroeconomic indices. Panel Data analysis has been applied using SAS software. The percentage of female unemployment negatively affects the volume and value of private label, unlike male unemployment, which affects them positively. The GDP influences positively and slightly both the volume and the value of store brands. In addition, the fact that the percentage of urban population has a positive influence on the value of private brands but not on their volume is noteworthy. Last but not least, only the estimation of value of private label in Spain shows a significant positive increase in following years. Eight countries of the sample indicate the opposite trend.
Journal: Journal of Business Economics and Management
Pages: 1237-1251
Issue: 6
Volume: 17
Year: 2016
Month: 11
X-DOI: 10.3846/16111699.2016.1148628
File-URL: http://hdl.handle.net/10.3846/16111699.2016.1148628
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Handle: RePEc:taf:jbemgt:v:17:y:2016:i:6:p:1237-1251
Template-Type: ReDIF-Article 1.0
Author-Name: Pinar Basgoze
Author-X-Name-First: Pinar
Author-X-Name-Last: Basgoze
Author-Name: Yilmaz Yildiz
Author-X-Name-First: Yilmaz
Author-X-Name-Last: Yildiz
Author-Name: Selin Metin Camgoz
Author-X-Name-First: Selin
Author-X-Name-Last: Metin Camgoz
Title: Effect of brand value announcements on stock returns: empirical evidence from Turkey
Abstract:
This study examines the effects of brand value announcements on stock returns of Turkish firms by using the event study methodology and long-term risk adjusted port-folio returns. We examined the stock-price impacts of 299 brand value announcements on the stock market performance of the firms within the years of 2010–2014 by using BrandFinance Turkey’s 100 ranking list as a data source. The findings indicate that the companies listed in the Turkey Top 100 Brands list earn positive abnormal returns 7 months after the announcement. Similarly, the companies which had greater brand values relative to the previous year, experienced significant positive abnormal returns in the 7-months period. Additional findings suggest that investors are able to beat the market in the long run regarding risk-adjusted returns by consistently investing in the Top Brands. Overall, the study demonstrates new evidence to the marketing-finance interface by focusing on the Turkish case as an important emerging market.
Journal: Journal of Business Economics and Management
Pages: 1252-1269
Issue: 6
Volume: 17
Year: 2016
Month: 11
X-DOI: 10.3846/16111699.2016.1153517
File-URL: http://hdl.handle.net/10.3846/16111699.2016.1153517
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Handle: RePEc:taf:jbemgt:v:17:y:2016:i:6:p:1252-1269
Template-Type: ReDIF-Article 1.0
Author-Name: Morteza Yazdani
Author-X-Name-First: Morteza
Author-X-Name-Last: Yazdani
Author-Name: Sarfaraz Hashemkhani Zolfani
Author-X-Name-First: Sarfaraz
Author-X-Name-Last: Hashemkhani Zolfani
Author-Name: Edmundas Kazimieras Zavadskas
Author-X-Name-First: Edmundas Kazimieras
Author-X-Name-Last: Zavadskas
Title: New integration of MCDM methods and QFD in the selection of green suppliers
Abstract:
Currently, topics of operations management and supply chain systems have been gaining more interest of researchers. Efficiency in supply chain activities and operations management firstly benefit organisations. One of the main operations in supply chain systems is the collaboration with selected suppliers. Various models have been proposed in terms of supplier evaluation and selection studies. The invention of a new integrated frame for the building of an effective supplier evaluation system is a multi-attribute task that consists of several factors as external and internal variables. This paper delivers a creative integrated model of supplier selection problem using SWARA, QFD and a new MCDM tool called WASPAS. This work considers customer attitudes in the process of supplier evaluation. To give more weight to customer requirements, a new SWARA method has been designed; additionally, QFD and the house of quality matrix have been used to transform customer requirements into the supplier evaluation index. Finally, WASPAS has been used to rate the performance of suppliers and present supplier ranking scores. Application of initiative ways to propose a systematic supplier selection problem has always been encouraged by supply chain managers. This topic has been addressed in this paper as well.
Journal: Journal of Business Economics and Management
Pages: 1097-1113
Issue: 6
Volume: 17
Year: 2016
Month: 11
X-DOI: 10.3846/16111699.2016.1165282
File-URL: http://hdl.handle.net/10.3846/16111699.2016.1165282
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Handle: RePEc:taf:jbemgt:v:17:y:2016:i:6:p:1097-1113
Template-Type: ReDIF-Article 1.0
Author-Name: Nonna Kushnirovich
Author-X-Name-First: Nonna
Author-X-Name-Last: Kushnirovich
Title: Immigrant investors in financial markets: modes of financial behavior
Abstract:
This study investigates the modes of financial behavior of immigrants, comparing them with native-born investors. The study developed a theoretical framework for investigating the determinants of financial behavior, combining Bourdieu’s concept of economic habitus with the theories explaining behavior of investors in financial markets. Methods of clustering analysis and multinomial logit regression model were used. The study found that an investor’s behavior mode is strongly predicted by determinants derived from cultural, economic and social capital. For low-income persons, the culture of origin shapes their financial behavior, and for high-income persons, their economic capital and affiliation to social class are more important. Over time, immigrants assimilate in their financial choices. This study contributes to research of financial behavior as well as migration research by explaining the factors that affect preferences for financial assets allocation among immigrants. Understanding migrants’ modes of financial behavior will help policymakers to facilitate accumulation of wealth by immigrants, and in this way contribute to the process of their integration.
Journal: Journal of Business Economics and Management
Pages: 992-1006
Issue: 6
Volume: 17
Year: 2016
Month: 11
X-DOI: 10.3846/16111699.2016.1171253
File-URL: http://hdl.handle.net/10.3846/16111699.2016.1171253
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Handle: RePEc:taf:jbemgt:v:17:y:2016:i:6:p:992-1006
Template-Type: ReDIF-Article 1.0
Author-Name: Anita Ciunova-Shuleska
Author-X-Name-First: Anita
Author-X-Name-Last: Ciunova-Shuleska
Author-Name: Christian Nedu Osakwe
Author-X-Name-First: Christian Nedu
Author-X-Name-Last: Osakwe
Author-Name: Nikolina Palamidovska-Sterjadovska
Author-X-Name-First: Nikolina
Author-X-Name-Last: Palamidovska-Sterjadovska
Title: Complementary impact of capabilities and brand orientation on SMBs performance
Abstract:
The purpose of this study is to analyse the interrelationships among capabilities and brand orientation and their effect on performance of the small and medium-sized businesses. A data set of 181 effective responses is collected and Partial Least Squares was used. The main drivers of customer performance are brand orientation and adaptive and brand promotional capabilities, while financial performance is determined by brand promotional and e-marketing capabilities and by customer performance. Brand orientation directly influences adaptive and brand promotional capabilities, while e-marketing capability is positively influenced by brand promotional capability. SMBs operating in the developing economy context need to combine multiple capabilities and brand orientation with focus on building e-marketing capability to improve financial performance. This research study is one of the first in the South-eastern European context to offer evidence-based insights on the structural relations among multiple capabilities, brand orientation and the performance of SMBs.
Journal: Journal of Business Economics and Management
Pages: 1270-1285
Issue: 6
Volume: 17
Year: 2016
Month: 11
X-DOI: 10.3846/16111699.2016.1181101
File-URL: http://hdl.handle.net/10.3846/16111699.2016.1181101
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Handle: RePEc:taf:jbemgt:v:17:y:2016:i:6:p:1270-1285
Template-Type: ReDIF-Article 1.0
Author-Name: Marija Radosavljevic
Author-X-Name-First: Marija
Author-X-Name-Last: Radosavljevic
Author-Name: Nada Barac
Author-X-Name-First: Nada
Author-X-Name-Last: Barac
Author-Name: Vesna Jankovic-Milic
Author-X-Name-First: Vesna
Author-X-Name-Last: Jankovic-Milic
Author-Name: Aleksandra Andjelkovic
Author-X-Name-First: Aleksandra
Author-X-Name-Last: Andjelkovic
Title: Supply chain management maturity assessment: challenges of the enterprises in Serbia
Abstract:
Nowadays competition has been spread to supply chains, instead of individual enterprises. Therefore, beside evaluation of enterprise’s capabilities to manage business processes, it is important to assess capabilities for business process management at supply chain level. The purpose of the research presented in this paper is to point out the necessity of supply chain management maturity in implementation of best practice. Research methodology is based on supply chain management maturity models. Application of the Delphi method enabled usage of maturity model, adapted to the enterprises in Serbia. The value of the research precedes from unique combination of best practice elements for the assessment of supply chain management maturity level. The research results show that best practice elements are not very popular in the enterprises in Serbia. All enterprises are at the second and third maturity level. Bearing in mind that everything has to be improved continually, maturity models, proposed by different authors can be further developed by including certain statistical tools. The original contribution of this paper and its practical implication refer to including statistical tools, hierarchical cluster analysis and correlation, into maturity analysis, thus enabling creation of framework as a road-map for the improvement of supply chain management maturity.
Journal: Journal of Business Economics and Management
Pages: 848-864
Issue: 6
Volume: 17
Year: 2016
Month: 11
X-DOI: 10.3846/16111699.2016.1191038
File-URL: http://hdl.handle.net/10.3846/16111699.2016.1191038
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Handle: RePEc:taf:jbemgt:v:17:y:2016:i:6:p:848-864
Template-Type: ReDIF-Article 1.0
Author-Name: Vladimír Bureš
Author-X-Name-First: Vladimír
Author-X-Name-Last: Bureš
Author-Name: Fridrich Racz
Author-X-Name-First: Fridrich
Author-X-Name-Last: Racz
Title: Application of system archetypes in practice: an underutilised pathway to better managerial performance
Abstract:
Current dynamic business environment forces managers to apply various tools in order to improve organisational performance and effectiveness. System archetypes enable to cope with complexity and make appropriate decisions. This study is theoretically grounded in the field of economic cybernetics and system archetype analysis. It applies qualitative research on the sample of 54 managers with the high level of seniority. The aim is to reveal whether system archetypes are effectively used in practice. Two hypotheses focused on both knowledge about and application of system archetypes are tested. The results prove that there are inconsistencies tied to forms of system archetypes insight and knowledge. Moreover, there is an inadequate level of attention identified in investigated organisations. Results imply various potential research pathways that are outlined in the final section of the paper. Hence, the manuscript offers a unique insight into the current state of practical system archetypes utilisation and contributes to the explanation of the role of system archetypes in the economic cybernetics framework.
Journal: Journal of Business Economics and Management
Pages: 1081-1096
Issue: 6
Volume: 17
Year: 2016
Month: 11
X-DOI: 10.3846/16111699.2016.1203355
File-URL: http://hdl.handle.net/10.3846/16111699.2016.1203355
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Handle: RePEc:taf:jbemgt:v:17:y:2016:i:6:p:1081-1096
Template-Type: ReDIF-Article 1.0
Author-Name: Susana Callao
Author-X-Name-First: Susana
Author-X-Name-Last: Callao
Author-Name: Riccardo Cimini
Author-X-Name-First: Riccardo
Author-X-Name-Last: Cimini
Author-Name: José Ignacio Jarne
Author-X-Name-First: José Ignacio
Author-X-Name-Last: Jarne
Title: Value relevance of accounting figures in presence of earnings management. Are enforcement and ownership diffusion really enough?
Abstract:
The study assesses and compares the value relevance (VR) of accounting numbers in entities that experienced high discretionary accruals intensity and so possible earnings management (EM) behaviours, testing whether and in what extent the quality of enforcement and governance mechanisms act as moderating factors on the relation EM-VR. Based on a sample of 2 667 European non-financial entities, the results show that while the VR of earnings is low in entities that experienced high discretionary accruals intensity, book value increases its VR. The study also shows that the quality of enforcement mechanisms and the ownership diffusion (that proxies the quality of corporate governance) are effectively able to obstruct the loss of VR of earnings. The value added of the paper consists in showing that both the quality of enforcement and the ownership diffusion contrast only in part and in different manner the loss of VR of earnings, due to the presence of EM behaviours, acting only in part as moderating factors.
Journal: Journal of Business Economics and Management
Pages: 1286-1299
Issue: 6
Volume: 17
Year: 2016
Month: 11
X-DOI: 10.3846/16111699.2016.1203816
File-URL: http://hdl.handle.net/10.3846/16111699.2016.1203816
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Handle: RePEc:taf:jbemgt:v:17:y:2016:i:6:p:1286-1299
Template-Type: ReDIF-Article 1.0
Author-Name: Barbara Gaudenzi
Author-X-Name-First: Barbara
Author-X-Name-Last: Gaudenzi
Author-Name: Alessandro Bucciol
Author-X-Name-First: Alessandro
Author-X-Name-Last: Bucciol
Title: Jet fuel price variations and market value: a focus on low-cost and regular airline companies
Abstract:
We analyze the relationship between dynamics to stock prices and jet fuel prices, conditional on financial and company-specific variables, in the airline sector. In particular, our contribution to the literature is in the comparison between regular and low-cost airline companies. We run a set of fixed-effect regressions where the dependent variable, the stock daily return of the airline company (observed between 2008 and 2014) is regressed over three sets of explanatory variables (financial, company-specific and time variables). While large and small companies provide similar results, we find that the company price return – among different variables – correlates only with the jet fuel return and the stock market return. Our work also suggests that there is a difference between regular and low-cost companies. We speculate that this possibly arises because low-cost companies stock-pile in a more efficient way, which depends less on current jet fuel price. Our evidence then sheds light on the efficiency of the low-cost model and may suggest to export part of its practice among regular airline companies.
Journal: Journal of Business Economics and Management
Pages: 977-991
Issue: 6
Volume: 17
Year: 2016
Month: 11
X-DOI: 10.3846/16111699.2016.1209784
File-URL: http://hdl.handle.net/10.3846/16111699.2016.1209784
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Handle: RePEc:taf:jbemgt:v:17:y:2016:i:6:p:977-991
Template-Type: ReDIF-Article 1.0
Author-Name: Esra Arikan
Author-X-Name-First: Esra
Author-X-Name-Last: Arikan
Author-Name: Cengiz Yilmaz
Author-X-Name-First: Cengiz
Author-X-Name-Last: Yilmaz
Author-Name: Muzaffer Bodur
Author-X-Name-First: Muzaffer
Author-X-Name-Last: Bodur
Title: Expanding the boundary of brand extensions through brand relationship quality
Abstract:
Research on brand extensions identifies the concept of perceived fit as the prime determinant of success. Yet, it is not difficult to find examples of brands that have been extended successfully into “perceptually distant” domains. In an attempt to resolve this discrepancy between research insights and practical experiences, the study investigates the role of Brand Relationship Quality (BRQ) as a critical factor determining consumer responses to brand extensions. The proposed model is tested separately in the context of three different fit scenarios (high, moderate, and low) with data from 502 consumers. The results indicate that BRQ and perceived fit exert independent effects on consumer responses and complement each other as they jointly influence evaluations of brand extensions. The study therefore extends existing theory by providing evidence that the brand extension phenomenon cannot be explained justly without including constructs that portray personal relationships consumers develop with brands and provides insights for marketers and researchers as to how such relationships can be integrated in formulations of successful brand extension strategies.
Journal: Journal of Business Economics and Management
Pages: 930-944
Issue: 6
Volume: 17
Year: 2016
Month: 11
X-DOI: 10.3846/16111699.2016.1220420
File-URL: http://hdl.handle.net/10.3846/16111699.2016.1220420
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Handle: RePEc:taf:jbemgt:v:17:y:2016:i:6:p:930-944
Template-Type: ReDIF-Article 1.0
Author-Name: Kęstutis Peleckis
Author-X-Name-First: Kęstutis
Author-X-Name-Last: Peleckis
Title: International business negotiation strategies based on bargaining power assessment: the case of attracting investments
Abstract:
At present business solutions are used for development and implementation of negotiating strategies for international business, which are not universally suitable for business development in all situations in context of globalization, with current challenges, which are characterized by increasing risk, uncertainty and cultural differences. The purpose of the research is to provide a theoretical model for developing and implementing international business negotiation strategies, based on bargaining power assessment, as well as to conduct an experiment and test the suitability and adaptability of the developed model in an international business negotiation situation – in case of attracting investments. Research methods – scientific literature analysis, comparative, logical analysis and synthesis, comparative and generalisation methods, mathematical and statistic data analysis methods. According to the results, the developed model can be used to reinforce international business negotiations and electronic business negotiations, as an independent systemic unit of the negotiation process (a measure that is autonomous or requires only partial intervention of the negotiator).
Journal: Journal of Business Economics and Management
Pages: 882-900
Issue: 6
Volume: 17
Year: 2016
Month: 11
X-DOI: 10.3846/16111699.2016.1233511
File-URL: http://hdl.handle.net/10.3846/16111699.2016.1233511
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Handle: RePEc:taf:jbemgt:v:17:y:2016:i:6:p:882-900
Template-Type: ReDIF-Article 1.0
Author-Name: Magdalena Olczyk
Author-X-Name-First: Magdalena
Author-X-Name-Last: Olczyk
Title: Bibliometric approach to tracking the concept of international competitiveness
Abstract:
The main aim of paper is to identify the growth pattern in the international competitiveness literature, its core publications and key research domains on the basis of bibliometric data from the years 1945–2015. Citation data is collected from the ISI Web of Science Website, Scopus and Google Scholar, and analysed using HistCite, Pajek and VOSviewer software. Bibliometric indicators, network citation, key-route path methods and term co-occurrence methods are used. The results show that the theory of international competitiveness starts not from neoclassical theories of international trade, but from models of competition, even though competitiveness is mostly measured using trade/export performance. Krugman’s work on imperfect competitive markets and increasing returns of scale plays a most important role in knowledge diffusion on international competitiveness. The scientific development of analyzed concept is connected with six topics: trade performance, technology, liberalization, environmental regulations, location and productivity. These results give us a background for conducting practical analyses of international competitiveness, especially ones using synthetic indices.
Journal: Journal of Business Economics and Management
Pages: 945-959
Issue: 6
Volume: 17
Year: 2016
Month: 11
X-DOI: 10.3846/16111699.2016.1236035
File-URL: http://hdl.handle.net/10.3846/16111699.2016.1236035
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Handle: RePEc:taf:jbemgt:v:17:y:2016:i:6:p:945-959
Template-Type: ReDIF-Article 1.0
Author-Name: Vaidas Gaidelys
Author-X-Name-First: Vaidas
Author-X-Name-Last: Gaidelys
Author-Name: Stasys Dailydka
Author-X-Name-First: Stasys
Author-X-Name-Last: Dailydka
Title: Use of “Knowledge House”, DWS, DMS and DSS methodology by completing a competitors' analysis in the railway sector
Abstract:
In completing a competitors’ analysis in the railway sector by using the “Knowledge House” method, there is frequently a problem of data and information accessibility. The quality of primary information has direct influence on the quality of analytical conclusions. One more condition for the qualitative application of this method is the intellectual capital and experience of the analyst. One should note that in this regard we face another problem, that of selection of proper personnel, on the qualification of whom depends the accuracy of the evaluation and final results, on the basis of which strategic decisions are taken. The main aim of the paper is to assess the opportunities for applications of competitive intelligence methods in the railway sector. The study is using “Knowledge House”, DWS, DMS, DSS methodologies.Having analysed the scientific works the direct scientific sources of information, which are oriented to the application of the methods of competitive intelligence to the railway sector, have not been identified. The paper is absolutely original in that until now the competitive intelligence techniques have not been applied for the railway sector companies.Considering the fact that foreign companies, which compete for freighting at the international level, are regarded as the main competitors of the railway sector, the use of the methods of the competitive intelligence becomes more important while fighting for the part of the market. The competitive intelligence methods and their application to the railway sector companies are little studied. In accordance with application of the relevant methods in other sectors, it can be assumed that these innovative approaches could have a positive impact on the competitiveness of companies in the railway sector and their income.
Journal: Journal of Business Economics and Management
Pages: 1022-1051
Issue: 6
Volume: 17
Year: 2016
Month: 11
X-DOI: 10.3846/16111699.2016.1251963
File-URL: http://hdl.handle.net/10.3846/16111699.2016.1251963
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Handle: RePEc:taf:jbemgt:v:17:y:2016:i:6:p:1022-1051
Template-Type: ReDIF-Article 1.0
Author-Name: Sara Sadat Mortazavi Ravari
Author-X-Name-First: Sara Sadat
Author-X-Name-Last: Mortazavi Ravari
Author-Name: Ehsan Mehrabanfar
Author-X-Name-First: Ehsan
Author-X-Name-Last: Mehrabanfar
Author-Name: Audrius Banaitis
Author-X-Name-First: Audrius
Author-X-Name-Last: Banaitis
Author-Name: Nerija Banaitienė
Author-X-Name-First: Nerija
Author-X-Name-Last: Banaitienė
Title: Framework for assessing technological innovation capability in research and technology organizations
Abstract:
This study aims to evaluate technology innovation capabilities (TICs) of research and technology organizations (RTOs) by applying Fuzzy-DEMATEL & ANP techniques, in order to provide a practical lookout for their firm’s requirement in this regard. Based on literature review, six main criteria and eighteen sub-criteria are extracted. Fuzzy-DEMATEL is applied to analyze the casual relationships among the criteria and subcriteria. After identifying the relations between the criteria a questionnaire is developed and distributed among sixteen experts to assess the validity of the questionnaire, then the relations are weighted by ANP. It is concluded that proposed model is a comprehensive model that integrates qualitative and quantitative approaches to develop a step by step model to reach to the main TICs criteria in RTOs. Although, there are many previous researches illustrating various models to evaluate TICs, there is no formidable one using these techniques combination. Based on the abilities of the techniques and the results emerged this paper has prepared a robust model available for other RTOs to adopt as a true reference to reach to their TICs.
Journal: Journal of Business Economics and Management
Pages: 825-847
Issue: 6
Volume: 17
Year: 2016
Month: 11
X-DOI: 10.3846/16111699.2016.1253607
File-URL: http://hdl.handle.net/10.3846/16111699.2016.1253607
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Handle: RePEc:taf:jbemgt:v:17:y:2016:i:6:p:825-847
Template-Type: ReDIF-Article 1.0
Author-Name: Ginés Hernández-Cánovas
Author-X-Name-First: Ginés
Author-X-Name-Last: Hernández-Cánovas
Author-Name: Antonio Mínguez-Vera
Author-X-Name-First: Antonio
Author-X-Name-Last: Mínguez-Vera
Author-Name: Javier Sánchez-Vidal
Author-X-Name-First: Javier
Author-X-Name-Last: Sánchez-Vidal
Title: Ownership structure and debt as corporate governance mechanisms: an empirical analysis for Spanish SMEs
Abstract:
The purpose of this paper is to analyze the relationship between ownership structure and indebtedness for a sample of 2,544 Spanish small and medium enterprises. A System Generalized Method of Moments methodology is applied to control for the heterogeneity and endogeneity problems. The finding shows a negative effect of several measures of ownership on debt ratio. Therefore, the presence of an individual as main shareholder has a positive effect on debt, while the presence of a corporation as main shareholder exerts a negative influence. As research implications, this paper includes the agency problem based on principal-principal conflicts to explain the capital structure of small and medium enterprises, going beyond traditional principal-agent conflicts. The main practical implications of the paper is that owners who seek equity financing can use the results of this study for understanding better why investors are reluctant to invest in their small and medium enterprises. Policymakers can use the results of this study to develop better policies and to promote better provision of information for all stakeholders. About the contribution of this study, we are not aware of any paper that uses a panel of small and medium enterprises operating in a French-civil law country to examine the relationship between indebtedness and three different proxies of the ownership structure.
Journal: Journal of Business Economics and Management
Pages: 960-976
Issue: 6
Volume: 17
Year: 2016
Month: 11
X-DOI: 10.3846/16111699.2013.859171
File-URL: http://hdl.handle.net/10.3846/16111699.2013.859171
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Handle: RePEc:taf:jbemgt:v:17:y:2016:i:6:p:960-976
Template-Type: ReDIF-Article 1.0
Author-Name: Emilio Galdeano-Gómez
Author-X-Name-First: Emilio
Author-X-Name-Last: Galdeano-Gómez
Author-Name: Juan C. Pérez-Mesa
Author-X-Name-First: Juan C.
Author-X-Name-Last: Pérez-Mesa
Author-Name: José A. Aznar-Sánchez
Author-X-Name-First: José A.
Author-X-Name-Last: Aznar-Sánchez
Title: Internationalisation of SMEs and simultaneous strategies of cooperation and competition: an exploratory analysis
Abstract:
The present work examines the relationships between SMEs’ marketing internationalisation and the combination of cooperation and competition strategies, i.e. co-opetition. Recent analyses have shown that the SMEs’ exports capabilities are highly dependent on co-opetition, while others suggest that the challenges of international supply chain constitute a major driver to this combination. This analysis contributes to the literature by providing empirical evidence on both of these issues. A multivariate regression analysis is developed, measuring variables of SMEs’ co-opetition and international activity, and taking as reference a set of 136 Andalusian food exporters. The results confirm the positive effect of strategies of cooperation with competitors (regarding logistics, promotion, quality and R&D) on international marketing activity. This positive effect is enhanced when large retailers are the main buyers, i.e. in hierarchical relationships. Furthermore, exporting activity is shown to promote co-opetition among suppliers. These findings highlight the importance of such strategies as regards both export capabilities of the food firms in this region and their expansion into new foreign markets. The empirical approach and certain implications drawn from the results can be extended to other analyses on SMEs in international contexts.
Journal: Journal of Business Economics and Management
Pages: 1114-1132
Issue: 6
Volume: 17
Year: 2016
Month: 11
X-DOI: 10.3846/16111699.2014.959040
File-URL: http://hdl.handle.net/10.3846/16111699.2014.959040
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Handle: RePEc:taf:jbemgt:v:17:y:2016:i:6:p:1114-1132
Template-Type: ReDIF-Article 1.0
Author-Name: J. Samuel Baixauli-Soler
Author-X-Name-First: J. Samuel
Author-X-Name-Last: Baixauli-Soler
Author-Name: M. Encarnacion Lucas-Perez
Author-X-Name-First: M. Encarnacion
Author-X-Name-Last: Lucas-Perez
Author-Name: Juan Francisco Martin-Ugedo
Author-X-Name-First: Juan Francisco
Author-X-Name-Last: Martin-Ugedo
Author-Name: Antonio Minguez-Vera
Author-X-Name-First: Antonio
Author-X-Name-Last: Minguez-Vera
Author-Name: Gregorio Sanchez-Marin
Author-X-Name-First: Gregorio
Author-X-Name-Last: Sanchez-Marin
Title: Executive directors' compensation and monitoring: the influence of gender diversity on Spanish boards
Abstract:
This study presents evidence of the influence of gender diversity on the pay system and the monitoring of executives in Spain. In this country/context, characterized by a few male dominant shareholders acting simultaneously as executives, there is an ongoing discussion regarding the enactment of laws to promote gender equality on the boards of directors of large listed companies. This paper presents several contributions. On the one hand, the scarce previous evidence on this topic is focused on US firms. On the other hand, this study includes the role of ownership structure as a factor that indirectly moderates the relationships between gender diversity on board and monitoring effectiveness in terms of executive directors’ compensation. Furthermore, this paper makes an important effort to control endogeneity. The sample examined includes 120 companies listed on the Spanish stock market during the period 2004–2011. The results show a positive and highly significant effect of the presence of women independent directors on the proportion of variable pay in the compensation of executive directors. Our findings also point out the negative moderating effect of ownership concentration: the more concentrated is ownership in the hands of internal majority shareholder, the less is the link between board diversity and pay-for-performance systems.
Journal: Journal of Business Economics and Management
Pages: 1133-1154
Issue: 6
Volume: 17
Year: 2016
Month: 11
X-DOI: 10.3846/16111699.2014.969767
File-URL: http://hdl.handle.net/10.3846/16111699.2014.969767
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Handle: RePEc:taf:jbemgt:v:17:y:2016:i:6:p:1133-1154
Template-Type: ReDIF-Article 1.0
Author-Name: Mónica Carmona
Author-X-Name-First: Mónica
Author-X-Name-Last: Carmona
Author-Name: Emilio Congregado
Author-X-Name-First: Emilio
Author-X-Name-Last: Congregado
Author-Name: Antonio A. Golpe
Author-X-Name-First: Antonio A.
Author-X-Name-Last: Golpe
Author-Name: Jesus Iglesias
Author-X-Name-First: Jesus
Author-X-Name-Last: Iglesias
Title: Self-employment and business cycles: searching for asymmetries in a panel of 23 OECD countries
Abstract:
The aim of this work is to identify whether the bidirectional relationship between entrepreneurship cycles and output gaps is asymmetric depending on the phase of the business cycle. To this end, we employ a panel threshold regression model in which different relations can prevail in each regime, defined by the values of the threshold variable. The findings of this article qualify previous empirical results. In particular, our estimates provide support for the existence of different responses – both in terms of sign and magnitude – of cyclical self-employment to output growth and of output growth to cyclical self-employment, depending on the value of the threshold variable. The result is highly important for policy makers and practitioners given that whether they ignore the asymmetric impact that an entrepreneurship promotion policy action might have on the real economy, the action might lead to unexpected effects.
Journal: Journal of Business Economics and Management
Pages: 1155-1171
Issue: 6
Volume: 17
Year: 2016
Month: 11
X-DOI: 10.3846/16111699.2014.994027
File-URL: http://hdl.handle.net/10.3846/16111699.2014.994027
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Handle: RePEc:taf:jbemgt:v:17:y:2016:i:6:p:1155-1171
Template-Type: ReDIF-Article 1.0
Author-Name: Mateja Kos Koklic
Author-X-Name-First: Mateja
Author-X-Name-Last: Kos Koklic
Author-Name: Irena Vida
Author-X-Name-First: Irena
Author-X-Name-Last: Vida
Title: Interplay of the drivers and deterrents of leisure counterfeit purchase intentions
Abstract:
Drawing on complementary theoretical perspectives, in this study we empirically investigate the drivers and deterrents underlying the formation of attitudes to leisure counterfeits and purchase intentions, and examine rationalization as a moderator of the attitude-intention relationship. The research model is examined via mail survey data of adult consumers using structural equations modelling. The findings indicate that perceived benefits and moral intensity significantly influence attitudes, while the impact of performance risk is negligible. The attitude and moral intensity significantly predict the purchase intention. Our analyses confirm rationalization as a salient factor moderating the relationship between attitude and behavioral intention. Based on this pattern of results, we discuss study implications in three areas: the perception of positive consequences for oneself, the perception of consequences for others, and the use of previously rarely examined consumer justifications. The finding that performance risk is not significant in affecting consumer attitude calls into question various appeals featuring adverse effects of buying counterfeits for an individual.
Journal: Journal of Business Economics and Management
Pages: 916-929
Issue: 6
Volume: 17
Year: 2016
Month: 11
X-DOI: 10.3846/16111699.2014.994184
File-URL: http://hdl.handle.net/10.3846/16111699.2014.994184
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Handle: RePEc:taf:jbemgt:v:17:y:2016:i:6:p:916-929
Template-Type: ReDIF-Article 1.0
Author-Name: David Naranjo-Gil
Author-X-Name-First: David
Author-X-Name-Last: Naranjo-Gil
Title: Role of management control systems in crafting realized strategies
Abstract:
The distinction between deliberate and emergent strategy implementation is rarely acknowledged in management control literature, which has promoted a passive view of control systems tailored explicitly to support the strategic planning. This paper analyzes how management control systems facilitate organizations to realize their intended strategies. Hypotheses are tested using survey data from CEOs of Spanish hospitals. Partial least squares is used as a statistical technique to test the integral causal path model. Results show that boundary and diagnostic control systems have primarily a positive impact on the realization of deliberate strategies, whereas belief and interactive control systems positively affect emergent strategies. This study tries to clarify the fragmented results of the literature by analyzing the effect of the design (passive role) and the use (active role) of management control systems on both deliberate and emergent strategies. A practical implication of this paper is that managers should focus on both the design and the use of management control systems to implement strategies successfully. This study is among the first to provide empirical evidence on how different levers of control complement each other in crafting realized strategies.
Journal: Journal of Business Economics and Management
Pages: 865-881
Issue: 6
Volume: 17
Year: 2016
Month: 11
X-DOI: 10.3846/16111699.2014.994558
File-URL: http://hdl.handle.net/10.3846/16111699.2014.994558
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Handle: RePEc:taf:jbemgt:v:17:y:2016:i:6:p:865-881