Excellence in Research and Innovation for Humanity

International Science Index

Commenced in January 1999 Frequency: Monthly Edition: International Abstract Count: 40418

Economics and Management Engineering

2630
69061
Measuring Global Integration Capability of Small and Medium-Sized Enterprises
Abstract:
Due to increased globalization of markets, companies in ever more industries are exposed to competition of foreign companies. This is having an impact on small and medium sized companies as well as larger ones. To compensate for decreased share of the home market, Small and Medium-Sized Enterprises (SMEs) need to an increasing extent to exploit market opportunities in foreign markets. It is however not self-evident that they will succeed in foreign market as the company needs other kind of competencies than for their local markets. SMEs frequently operate in niche markets and may succeed, as the markets are frequently small and it may therefore not be that lucrative for potential competitors, resulting in limited competition. There is however a risk that the competitive advantage of the SMEs is not sustainable when they operate in foreign markets, due, for cultural differences, different infrastructures, and different requirements of customers. It is therefore important that SMEs do not enter the market until they have gained sufficient global integration capability. The objective of this research is to develop a framework for a tool that SMEs can use to measure and benchmark their global integration capability, and to what extent the tool needs to be adapted to different industries. In order to gain an insight into factors that are considered most important for SMEs, case studies of 10 companies of different industries were conducted. This research indicates that some of the factors used in previous research are relevant and applicable in SMEs, but their importance is dependent on the size of companies, their stage in the internationalization process, and industries. However, some of the factors can be generalized among industries, but not on the size of the companies or their stage in the internationalization process. The research demonstrates that the development of a tool to measure the global integration capability of SMEs can be useful, but that different versions of the tool need to be developed in order to compensate for the needs of specific companies.
2629
68962
Optimal Sortation Strategy for a Distribution Network in an E-Commerce Supply Chain
Abstract:
The backbone of any retail e-commerce success story is a unique design of supply chain network, providing the business an unparalleled speed and scalability. Primary goal of the supply chain strategy is to meet customer expectation by offering fastest deliveries while keeping the cost minimal. Meeting this objective at the large market that India provides is the problem statement that we have targeted here. There are many models and optimization techniques focused on network design to identify the ideal facility location and size, optimizing cost and speed. In this paper we are presenting a tactical approach to optimize cost of an existing network for a predefined speed. We have considered both forward and reverse logistics of a retail e-commerce supply chain consisting of multiple fulfillment (warehouse) and delivery centers, which are connected via sortation nodes. The mathematical model presented here determines if the shipment from a node should get sorted directly for the last mile delivery center or it should travel as consolidated package to another node for further sortation (resort). The objective function minimizes the total cost by varying the resort percentages between nodes and provides the optimal resource allocation and number of sorts at each node.
2628
68931
A Model Approach of Good Practice Based on the Project Management Body of Knowledge® Guide in the Project Owner
Abstract:
The project owner's role in the public-private investment consists of controlling and verifying the correct execution of the project's objectives and resources. Likewise, it is a discipline little explored in the academic field, whereby this work wishes to contribute with a model of good practices based on the project management methodology proposed by the Project Management Body of Knowledge® Guide. In the same way, highlight what are the controls that an integral project owner should take into account in its exercise and application, through the stages in which its contract runs. This proposal aims to structure its practice and integrate its functions according to a project management methodology. In addition, these practices will be applied in a case study of projects in the agricultural sector, particularly in the construction of irrigation district in Cundinamarca, Colombia.
2627
68901
Environmental Impact of Trade Sector Growth: Evidence from Tanzania
Authors:
Abstract:
This paper attempted to investigate whether there is Granger-causality running from trade to environment as evidenced in the changing climatic condition and land degradation. Using Tanzania as the reference, VAR-Granger-causality test was employed to rationalize the conundrum of causal-effect relationship between trade and environment. The changing climatic condition, as the proxy of both nitrous oxide emissions (in thousand metric tons of CO2 equivalent) and land degradation measured by the size of arable land were tested against trade using both exports and imports variables. The result indicated that neither of the trade variables Granger-cause the variability on gas emissions and arable land size. This suggests the possibility that all trade concerns in relation to environment to have been internalized in domestic policies to offset any likely negative consequence.
2626
68889
Assessing the Effects of Entrepreneurship Education and Moderating Variables on Venture Creation Intention of Undergraduate Students in Ghana
Abstract:
The paper explored the effects of active and passive entrepreneurship education methods on the venture creation intention of undergraduate students in Ghana. The study also examined the moderating effect of gender and negative personal characteristics (risk tolerance, stress tolerance and fear of failure) on students’ venture creation intention. Deductive approach was used in collecting quantitative data from 555 business students from one public university and one private university through self-administered questionnaires. Descriptive statistic was used to determine the dominant method of entrepreneurship education used in Ghana. Further, structural equation model was used to test four hypotheses. The results of the study show that the dominant method of education used in Ghana was lectures and the least method used was field trip. The study further revealed that passive methods of education are less effective compared to active methods which were statistically significant in venture creation intention among students. There was also statistical difference between male and female students’ venture creation intention but stronger among male students and finally, the only personal characteristics that influence students’ intention was stress tolerance because risk tolerance and fear of failure were statistically insignificant.
2625
68845
Sensitivity of Credit Default Swaps Premium to Global Risk Factor: Evidence from Emerging Markets
Abstract:
Risk premium of emerging markets are moving altogether depending on the momentum and shifts in the global risk appetite. However, the magnitudes of these changes in the risk premium of emerging market economies might vary. In this paper, we focus on how global risk factor affects credit default swaps (CDS) premiums of emerging markets using principal component analysis (PCA) and rolling regressions. PCA results indicate that the first common component accounts for almost 76% of common variation in CDS premiums of emerging markets. Additionally, the explanatory power of the first factor seems to be high over sample period. However, the sensitivity to the global risk factor tends to change over time and across countries. In this regard, fixed effects panel regressions are employed to identify the macroeconomic factors driving the heterogeneity across emerging markets. There are two main macroeconomic variables that affect the sensitivity; government debt to GDP and international reserves to GDP. The countries with lower government debt and higher reserves tend to be less subject to the variations in the global risk appetite.
2624
68808
Application of Quality Function Deployment Approach to a Department in Gaziantep University
Abstract:
Quality function deployment (QFD) is a technique to assist transform the voice of the customer into engineering characteristics for a product/service. With the difference of existing studies, QFD is applied to an educational area that is a service sector which is not a manufacturing firm. The objective of the study is to design the undergraduate program according to students’ desire and expectations. To do so, third and fourth year students of industrial engineering department of Gaziantep University are considered as customers. Some suggestions about lecturers, courses, exams and facility for how to satisfy students’ demands are presented and as a result, sharing the materials of courses is the most important requirement among others.
2623
68782
A Strategic Perspective on a Qualitative Model of Type II Workplace Aggression in Healthcare Sector
Abstract:
Workplace aggression is broadly recognized as a main work-related risk for healthcare organizations the world over. Scholars underlined that nonfatal workplace aggressions can be also produced by Type II workplace aggression, that occur when the aggressor has a legitimate relationship with the organization and commits an act of hostility while being served or cared for by members of the organization. Several reviews and meta-analysis highlighted the main antecedents and consequences of Type II verbal and physical workplace aggression in the healthcare sector, also focusing on its economic and psychosocial costs. However, some scholars emphasized the need for a systemic and multi-factorial approach to deeply understand and effectively respond to such kind of aggression. The main aim of the study is to propose a qualitative model of Type II workplace aggression in a health care organization in accordance with the system thinking and multi-factorial perspective. A case study research approach, conducted in an Italian non-hospital healthcare organization, is presented. Two main data collection methods have been adopted: individual and group interviews with a sample (N = 24) of physicians, nurses and clericals. A causal loop diagram (CLD) that describes the main causal relationships among the key-variables of the proposed model has been outlined. The main feedback loops and the causal link polarities have been also defined to fully describe the structure underlining the Type II workplace aggression phenomenon. The proposed qualitative model shows how the Type II workplace aggression is related with burnout, work performance, job satisfaction, turnover intentions, work motivation and emotional dissonance. Finally, strategies and policies to reduce the strength of workplace aggression’s drivers are suggested.
2622
68698
Learning from Errors: An Exploratory Study Among Mauritian Auditors
Abstract:
Results from regulator inspections suggest that auditors make errors that are not always detected on a timely basis. Aside from their negative consequences, proper handling of errors can also stimulate learning. This exploratory study focuses on how audit firms handle and learn from errors. There are two primary strategies that organizations use to deal with errors. Error prevention is aimed at reducing the occurrence of errors. Error management, on the other hand, stimulates open communication about errors, analysis of the root causes, and correcting and learning from errors. While both approaches are important, an excessive focus on error prevention may cause organizational members to avoid sharing errors, due to, e.g., fear of sanctions, potentially limiting the potential for learning in the long run. In this study, we conducted interviews with Mauritian auditors at multiple hierarchical levels and held a survey among the same population. We observe a high degree of error prevention in the audit practice. Interview findings suggest that openness as a key element of a constructive error management culture is recognized but is rarely practiced. Learning takes place in audit firms by means of courses and training, but the emphasis is placed on preventing errors instead of discussing and learning from errors. Survey findings indicate that partners and directors generally have a more positive view of the degree of openness, analysis, and learning than lower hierarchical levels.
2621
68663
Understanding the Interplay between Consumer Knowledge, Trust and Relationship Satisfaction in Financial Services
Abstract:
Consumers often exhibit a bias in their knowledge; they often think that they know more or less than they do. The concept of 'knowledge over/underconfidence' (O/U) has in previous studies been used to investigate such knowledge bias. O/U appears as a combination of subjective and objective knowledge. Subjective knowledge relates to consumers’ perception of their knowledge, while objective knowledge relates to consumers’ absolute knowledge measured by objective standards. This separation leads to three scenarios: The consumer can either be knowledge calibrated (subjective and objective knowledge are similar), overconfident (subjective knowledge exceeds objective knowledge) or underconfident (objective knowledge exceeds subjective knowledge). Knowledge O/U is a highly useful concept in understanding consumer choice behavior. For example, knowledge overconfident individuals are likely to exaggerate their ability to make right choices, are more likely to opt out of necessary information search, spend less time to carry out a specific task than less knowledge confident consumers, and are more likely to show high financial trading volumes. Through the use of financial services as a case study, this study contributes to previous research by examining how consumer knowledge O/U affects two types of trust (broad-scope trust and narrow-scope trust) and consumer relationship satisfaction. Trust does not only concern consumer trust in individual companies (i.e., narrow.-scope confidence NST), but also concerns consumer confidence in the broader business context in which consumers plan and implement their behavior (i.e., broad scope trust, BST). NST is defined as "the expectation that the service provider can be relied on to deliver on its promises’, while BST is defined as ‘the expectation that companies within a particular business type can generally be relied on to deliver on their promises.’ This study expands our understanding of the interplay between consumer knowledge bias, consumer trust, and relationship marketing in two main ways: First, it is demonstrated that the more knowledge O/U a consumer becomes, the higher/lower NST and levels of relationship satisfaction will be. Second, it is demonstrated that BST has a negative moderating effect on the relationship between knowledge O/U and satisfaction, such that knowledge O/U has a higher positive/negative effect on relationship satisfaction when BST is low vs. high. The data for this study comprises 756 mutual fund investors. Trust is particularly important in consumers’ mutual fund behavior because mutual funds have important responsibilities in providing financial advice and in managing consumers’ funds.
2620
68650
Sustainopreneurship Strategies and Growth of Bottom of the Pyramid Businesses: An Exploration of Water Business Operators in Low Income Areas of Kisumu City, Kenya
Authors:
Abstract:
Sustainable development has become an increasingly recognized issue worldwide. Creating a pro- innovation and pro-sustainability organizations to serve the bottom of the pyramid markets is a challenging task that could be overcome through materializing the concept of Sustainopreneurship as it is conceptualized in Sustainable Development Goals 2015. Sustainable entrepreneurship seeks to create environmental, social and economic value. However, an integration of entrepreneurship into a theoretically founded framework of sustainability is still missing. Furthermore, entrepreneurship is rarely understood as a goal of sustainable development, i.e. the individual’s freedom to choose entrepreneurship as a livelihood strategy. This notwithstanding, even though much research has been conducted in the field of corporate sustainability, scientific knowledge about such activities in Small and Medium Enterprises especially at the bottom of the pyramid is scarce as most previous studies have been conducted in large organizations. This presents a research gap in the discourse on entrepreneurship and sustainability among the Small and Medium Enterprises which the study sought to fill by focusing on the water sector. Entrepreneurs in the water services sector can be regarded as potential contributors to the country’s sustainable development if they enhance accessibility, affordability and quality of the products and services which are so essential for the population’s well-being and improved living standards. However, efforts to provide water and sanitation to the urban poor have generally been piecemeal and limited to the provision of a few standpipes. The small-scale and independent providers (SIPs) referred to as Master Operators (MOs) working under a delegated management model with Kisumu Water and Sewerage Company (KIWASCO) have been recording poor performance and growth over the years with most being under receivership and registering a meager 40% coverage of their demarcated areas despite the ever-increasing population in Kisumu. This is heralded by poor marketing strategies and a lack of sustainable entrepreneurial and business management skills among the management. The purpose of the study was therefore to establish the sustainopreneurship strategies adopted by bottom of the pyramid businesses in the water sector and how these affect their growth. Data was collected from 23 MOs and management staff of KIWASCO using questionnaires and analyzed using descriptive statistics and regression analysis. The study found that the MOs have positively impacted on the low income earners in the informal settlements in Kisumu as they are now paying less for water compared to middle and high income earners. However, most MOs have remained stagnated financially for the last five years, they do not have a proper marketing system, have not prioritized on the business growth and continually seek for support through members’ contribution to sustain the business. The study recommends that there is need to register the MOs as business entities and provide them with training on business management including marketing, financial management and record keeping.
2619
68605
A Study of Relational Factors Associated with Online Celebrity Business and Consumer Purchase Intention
Abstract:
Online celebrity business, also known as Internet celebrity business (or Wanghong business in Chinese), is an emerging relational C2C business model, and an alternative to traditional C2C transactional business models. There are already millions of these consumers, and this number is growing. In this model, consumer purchase decisions are driven by recommendations and endorsements in videos posted online by celebrities. The purpose of this paper is to determine the relational constructs within consumer relationships in the Internet celebrity business model and to investigate relationships between the constructs and consumer purchase intention. A questionnaire-based study was conducted with consumers who had an awareness of, or prior purchase experience with online celebrities. The results of exploratory factor analysis (EFA) and multiple regression analysis revealed three valid relational constructs: product experience sharing, lifestyle association, and real-time interaction. This study indicated that these constructs had the direct effect on consumer preference and purchase intention. The findings of this study provide insight into a business model in which online shopping is driven by celebrities. They suggest that online celebrities should pay more attention to product experience sharing, life style association and real-time interaction for managing their product promotions. These are the most salient factors with respect to the relational constructs identified in this study.
2618
68574
A Multi-Objective Mathematical Model for Production Facility Assignment: An Automotive Subcontract Case
Abstract:
This paper presents a solution method for selection of production facility. The motivation has been taken from a real life case, an automotive subcontractor which has two production facilities at different cities and parts. The problem is to decide which part(s) should be produced at which facility. To the best of our knowledge, until this study, there was no scientific approach about this problem at the firm and decisions were being given intuitively. In this study, some logistic cost parameters have been defined and with these parameters a mathematical model has been constructed. Defined and collected cost parameters are handling cost of parts, shipment cost of parts and shipment cost of welding fixtures. Constructed multi-objective mathematical model aims to minimize these costs while aims to balance the workload between two locations. Results showed that defined model can give optimum solutions in reasonable computing times. Also, this result gave encouragement to develop the model with addition of new logistic cost parameters.
2617
68547
Analyzing the Value of Brand Engagement on Social Media for B2B Firms: Evidence from China
Abstract:
Engaging and co-creating value with buyers (i.e., the buying organizations) have rapidly become a rising trend for sellers (i.e., the selling organizations) within Business-to-Business (B2B) environments, through which buyers can interact more with sellers and be better informed about products. One important way to achieve this is through engaging with buyers on social media, termed as brand engagement on social media, which provides a platform for sellers to interact with customers. However, most B2B marketers seem be skeptical about the effectiveness of such social media engagement strategies. Thus, understanding brand engagement on social media’s financial value and its relevance to the invest community such as stock analyst for B2B firms is needed. This study addresses the research gap by answering the following questions: (1) Are B2B firms’ brand engagement on social media related to their firm value? (2) To what extent do analyst stock recommendations channel B2B firms’ brand engagement on social media’s possible impact on firm value? The key contributions of this study are two-fold. First, this study contributes to the relevant literature, such as literature on social media in B2B marketing, analyst stock recommendations in marketing, engagement in marketing, and marketing-finance research. Second, this study offers practical insights to assist B2B firms’ marketers better understand their marketing efforts on social media. It also has important practical implications for financial analysts. To answer the research questions, this study collected data merged from multiple sources. First, this study gathered 447 Chinese B2B firms’ daily brand engagement data from Sina Weibo with the help of a consulting firm. Second, this study gathered analyst stock recommendations data from China Stock Market Trading Research Database (CSMAR). Finally, this study obtained data of firm return and risk from CSMAR. This study used the Capital Asset Pricing Model (CAPM) to measure firm risk from financial markets and calculated abnormal returns to measure firm return. This study also controlled for a comprehensive set of covariates and the possible unobservable heterogeneity in the model. The results show that there is a positive association between seller-initiated engagement (i.e., responsiveness) and B2B sellers’ firm value. In other words, positive changes in responsiveness for B2B firms on social media can improve firm value. Besides, analyst stock recommendations mediate, at least partially, the positive relationships between B2B firms’ responsiveness and firm value. In addition, this study reveals conversation has a counterintuitive and negative relationship with firm value (i.e., a significantly positive relationship with firm risk and an insignificant negative relationship with firm return). Moreover, the negative relationship between conversation and firm value is not mediated by analyst stock recommendations. The results show a dark side of buyer-initiated engagement on social media for B2B sellers. In conclusion, this study mainly contributes to recently increasing research on B2B firms’ engagement and value co-creation by providing a lens through which to examine the relationships among B2B firms’ brand engagement on social media, analyst stock recommendations, and firm value.
2616
68495
Combating Unemployment in Sweden
Abstract:
In Sweden the needs of the labor market are regularly monitored. Test results and forecasts translate directly into the education system in this country, which is largely a state system. Sweden is one of the first countries in Europe that has used active labor market policies. It is realized that there is an active unemployment which includes a wide range of activities that can be divided into three groups: active forms of influencing the creation of new jobs, active forms that affect the labor supply and active forms for people with disabilities. Most of the funding is allocated there for subsidized employment and training. Research conducted in Sweden shows that active forms of counteracting unemployment focused on the long-term unemployed can significantly raise the level of employment in this group.
2615
68493
The Emergence of the Accounting Profession in a High-income Oil-exporting Country: The Case of Kuwait 1973–1985
Authors:
Abstract:
This paper studies the accounting profession in Kuwait, a high-income oil-exporting country (HIOEC) during the period from 1973 to 1985. By utilizing social change theory as an explanatory framework, the aim of this paper is to explore how changes/events in the socio-economic environment influenced the state in adopting reform schemes leading to accounting change in Kuwait, and further to identify how these events/changes influenced the development of the Kuwaiti Accounting and Auditing Association (KAAA) from an inactive to an active association. We show how the activities of the state and the state–profession axis directed accounting change by 1) changes in the regulation of public practitioners, and 2) the introduction of the Committee for the Establishment of Accounting Rules (CEAR) and the Kuwait Stock Exchange (KSE) by the Ministry of Commerce.
2614
68490
Effects of Research and Development Investments in Transportation and Storage Sector on Logistic Performance: Example of Turkey
Abstract:
Logistics function has great potential for increasing sustainable competitive advantage, profitability, productivity, customer satisfaction and decreasing costs in all sectors. The performance of logistics sector, which has such great influence on the overall performance of the economy, attracts more attention of both researchers and sector representatives day by day. The purpose of this study is to determine the effects of research and development expenditures which spent by enterprises operating in the transportation and storage sectors on Turkey’s logistic performance index (LPI). To do so, research and development investment expenditure among the years 2009-2015 of Turkish transportation and storage firms data from the Turkish Statistical Institute and Turkeys country points in the World Bank logistics performance index in the same years data were examined. As the result of the parametric evaluation, it is seen that the research and development expenditures made have a positive effect on the logistic performance of Turkey.
2613
68455
Rethink Productivity in an Uncertain World
Abstract:
Productivity in Canada has been an issue for several decades; this was largely brought to light by the Organisation for Economic Co-operation and Development (OECD) warning issued in 2012. When compared to the United States, and other OECD nations, Canada’s productivity has fallen significantly behind, which in turn has hurt its competitiveness in the global trade market. Due to a lack of competitiveness, Canada does not export much, and as a result Canadian companies often cannot take advantage of economies of scale, economies that are needed to boost productivity. When looking into the causes of this productivity shortcoming, due diligence revealed that Canadians are highly risk averse, and while avoiding risk can be prudent in some circumstances, extreme risk aversion actually hampers development, innovation, and improvement as everyone follows the status quo. Another major contributor to the productivity problem is a failure to adopt technology for business growth, specifically in the small and medium-sized enterprises (SMEs) that make up 99.8% of Canadian Businesses (Business Development Bank of Canada, 2015). The vast majority of research into the field of productivity focuses on large businesses, research that is of very little use to SMEs in most cases. The framework discussed in this text, which is designed specifically for SMEs, is called the four pillars of productivity (4POP) system. By implementing this framework, an SME can successfully undertake productivity initiatives that lead to sustainable productivity improvements. The paper also elaborates on, that factors in the uncertainty and fluidity of today’s international diversity in terms of where each nation lies on the political spectrum and what that means for productivity.
2612
68412
Innovation Strategies and Challenges in Emerging Economies: The Case of Research and Technology Organizations in Turkey
Authors:
Abstract:
Innovation is highly critical for every company, especially for technology-based organizations looking to sustain their competitive advantage. However, this is not an easy task. Regardless of the size of the enterprise, market and location, all organizations face numerous challenges. Even though huge barriers to innovation exist in different countries, firm- and industry-specific challenges can be distinguished. This paper examines innovation strategies and obstacles to innovation in research and technology organizations (RTO) of Turkey. From the most important to the least, 9 different challenges are ranked according the results of this survey. The findings reveal that to take the lead in innovation, financial constraint is the biggest challenge which is consistent with the related literature. It ranked number one in this study. Beyond that, based on a sample of 40 RTOs, regional challenges such as underdeveloped regional innovation ecosystem plays a significant role in hampering innovation. Most of the organizations (55%) embrace an incremental approach to innovation, while only few pursue radical shifts. About 40% of the RTOs focus on product innovation, and 27.5% of them concentrate on technological innovation, while very limited number aim for operational excellence and customer engagement as the focus of their strategic innovation efforts.
2611
68295
Islamic Finance: Challenges of Islamic Banking in Pakistan
Abstract:
Islamic finance is growing with remarkable pace, especially Islamic banking, a major segment of Islamic finance, is expanding rapidly. This paper discusses the position of Islamic finance and Islamic banking, around the world in general and particularly in Pakistan. History of Islamic banking in Pakistan is protested, presently a significant growth is observed. However Islamic banking is confronting with number of challenges, which are refraining from sustainable growth of this industry in Pakistan. Growth level of Islamic banks should be steeper to contribute substantial share in country’s economy. It is important to formulate effective policies, at institutional and operational level to address these challenges through close collaboration of key stakeholders.
2610
68235
Consumer Value and Purchase Behaviour: The Mediating Role of Consumers' Expectations of Corporate Social Responsibility in Durban, South Africa
Abstract:
Prevailing strategic Corporate Social Responsibility (CSR) research is predominantly centred around the predictive implications of the construct on behavioural outcomes. This phenomenon limits the depth of our understanding of the trajectory of strategic CSR. The purpose of this paper is to investigate the mediating effects of CSR expectations on the relationship between consumer value and purchase behaviour by identifying the implications of the multidimensionality of CSR (economic, legal, ethical and philanthropic) on the latter. Drawing from the stakeholder theory and its interplay with the prevalence of Ubuntu values; the underlying force which governs the values of South African camaraderie, we hypothesise that the multidimensionality of CSR expectations has positive mediating effects in the relationship between consumer value and purchase behaviour. Partial Least Square (PLS) path modelling was employed, using six measures of the average path coefficient (APC) to test the relationship between the constructs. Results from a sample of mall shoppers of (n=411), based on a survey conducted across five major malls in Durban, South Africa, indicate that only the legal dimension of CSR serves as a mediating factor in the relationship among the constructs. South Africa’s unique history of segregation, leading to the proliferation of spontaneous organisational approach to CSR and higher expectations of organisational legitimacy are identified as antecedents of consumers’ reliance on the law (legal CSR) to redress the ills of the past, sustainable development, and socially responsible behaviour. The paper also highlights theoretical and managerial implications for future research.
2609
68230
Development of Earthquake and Typhoon Loss Models for Japan, Specifically Designed for Underwriting and Enterprise Risk Management Cycles
Abstract:
Natural hazards such as earthquakes and tropical storms, are very frequent and highly destructive in Japan. Japan experiences, every year on average, more than 10 tropical cyclones that come within damaging reach, and earthquakes of moment magnitude 6 or greater. We have developed stochastic catastrophe models to address the risk associated with the entire suite of damaging events in Japan, for use by insurance, reinsurance, NGOs and governmental institutions. KCC’s (Karen Clark and Company) catastrophe models are procedures constituted of four modular segments: 1) stochastic events sets that would represent the statistics of the past events, hazard attenuation functions that could model the local intensity, vulnerability functions that would address the repair need for local buildings exposed to the hazard, and financial module addressing policy conditions that could estimates the losses incurring as result of. The events module is comprised of events (faults or tracks) with different intensities with corresponding probabilities. They are based on the same statistics as observed through the historical catalog. The hazard module delivers the hazard intensity (ground motion or wind speed) at location of each building. The vulnerability module provides library of damage functions that would relate the hazard intensity to repair need as percentage of the replacement value. The financial module reports the expected loss, given the payoff policies and regulations. We have divided Japan into regions with similar typhoon climatology, and earthquake micro-zones, within each the characteristics of events are similar enough for stochastic modeling. For each region, then, a set of stochastic events is developed that results in events with intensities corresponding to annual occurrence probabilities that are of interest to financial communities; such as 0.01, 0.004, etc. The intensities, corresponding to these probabilities (called CE, Characteristics Events) are selected through a superstratified sampling approach that is based on the primary uncertainty. Region specific hazard intensity attenuation functions followed by vulnerability models leads to estimation of repair costs. Extensive economic exposure model addresses all local construction and occupancy types, such as post-linter Shinand Okabe wood, as well as concrete confined in steel, SRC (Steel-Reinforced Concrete), high-rise.
2608
68205
Future Design and Innovative Economic Models for Futuristic Markets in Developing Countries
Abstract:
Designing the future according to realistic analytical study for the futuristic market needs can be a milestone strategy to make a huge improvement in developing countries economics. In developing countries, access to high technology and latest science approaches is very limited. The financial problems in low and medium income countries have negative effects on the kind and quality of imported new technologies and application for their markets. Thus, there is a strong need for shifting paradigm thinking in the design process to improve and evolve their development strategy. This paper discusses future possibilities in developing countries, and how they can design their own future according to specific future models FDM (Future Design Models), which established to solve certain economical problems, as well as political and cultural conflicts. FDM is strategic thinking framework provides an improvement in both content and process. The content includes; beliefs, values, mission, purpose, conceptual frameworks, research, and practice, while the process includes; design methodology, design systems, and design managements tools. In this paper the main objective was building an innovative economic model to design a chosen possible futuristic scenario; by understanding the market future needs, analyze real world setting, solve the model questions by future driven design, and finally interpret the results, to discuss to what extent the results can be transferred to the real world. The paper discusses Egypt as a potential case study. Since, Egypt has highly complex economical problems, extra-dynamic political factors, and very rich cultural aspects; we considered Egypt is a very challenging example for applying FDM. The paper results recommended using FDM numerical modeling as a starting point to design the future.
2607
68155
Refined Procedures for Second Order Asymptotic Theory
Abstract:
Refined procedures for higher-order asymptotic theory for non-linear models are developed. These include a new method for deriving stochastic expansions of arbitrary order, new methods for evaluating the moments of polynomials of sample averages, a new method for deriving the approximate moments of the stochastic expansions; an application of these techniques to gather improved inferences with the weak instruments problem is considered. It is well established that Instrumental Variable (IV) estimators in the presence of weak instruments can be poorly behaved, in particular, be quite biased in finite samples. In our application, finite sample approximations to the distributions of these estimators are obtained using Edgeworth and Saddlepoint expansions. Departures from normality of the distributions of these estimators are analyzed using higher order analytical corrections in these expansions. In a Monte-Carlo experiment, the performance of these expansions is compared to the first order approximation and other methods commonly used in finite samples such as the bootstrap.
2606
68150
Social Networks as a Tool for Sports Marketing
Abstract:
Sports, in particular football, boosts considerably the financial market of a certain locality, be it city or even a country. The financial transactions involving this medium stand out from other existing businesses, such as small industries. Strategically, social networks are inserted in this sporting environment, in order to promote and attract new fans of this modality. The present study analyzes the use of social networks in Sports Marketing with a focus on football. For the object of this study, it was chosen a specific club, the Club Atlético Mineiro, a Brazilian club of great national notoriety. The social networks on focus will be: Facebook, Twitter, and Instagram. It will be analyzed the content and frequency of the posts, reception of the target public in relation to the content made available and its feedback.
2605
68059
Recognizing Customer Preferences Using Review Documents: A Hybrid Text and Data Mining Approach
Abstract:
The vast increment in the e-commerce ventures makes this area a prominent research stream. Besides several quantified parameters, the textual content of reviews is a storehouse of many information that can educate companies and help them earn profit. This study is an attempt in this direction. The article attempts to categorize data based on a computed metric that quantifies the influencing capacity of reviews rendering two categories of high and low influential reviews. Further, each of these document is studied to conclude several product feature categories. Each of these categories along with the computed metric is converted to linguistic identifiers and are used in an association mining model. The article makes a novel attempt to combine feature attraction with quantified metric to categorize review text and finally provide frequent patterns that depict customer preferences. Frequent mentions in a highly influential score depict customer likes or preferred features in the product whereas prominent pattern in low influencing reviews highlights what is not important for customers. This is achieved using a hybrid approach of text mining for feature and term extraction, sentiment analysis, multicriteria decision-making technique and association mining model.
2604
68052
The Role of Privatization as a Moderator of the Impact of Non-Institutional Factors on the Performance of the Enterprises in Central and Eastern Europe
Abstract:
In this paper, we analyze the impact of corruption (business environment, informal payments and state capture), crime and tax time, on the enterprise's performance during economic transition in the Central and Eastern Europe and the role of privatization as a moderator. We examine this effect by comparing the performance of the privatized enterprises and the state-owned-enterprises, while controlling for various forms of selection bias. The present study is based on firm-level panel data collected by the BEEPS for 27 transition countries over 2002, 2005, 2007, and 2011. In addition to firm characteristics, BEEPS collects valuable survey information on different forms of corruption, crime, tax time and firm ownership. We estimate the impact of corruption, crime, tax time on the different performance measures (sales, productivity, employment, labor costs and material costs) of the enterprise, whereby we control for firm ownership, with a special focus on the role of the privatization as a moderator. It argues that in general terms, the privatization has positive effects on the performance of enterprises during transition, but these effects are significantly different, depending on the examined performance measure (sales, productivity, employment, labor costs and material costs). When the privatization is effective, the privatized enterprises show a considerable performance improvements, particularly in terms of revenue growth and productivity growth. It also argues that the effects of privatization are different depending on the types of owner (outsider or insider) to whom it gives control. The results show that privatization to insider owners has no significant performance effect.
2603
67829
Studying Growth as a Pursuit of Disseminating Social Impact: A Conceptual Study
Abstract:
The purpose of this study is to pave the way for more focused accumulation of knowledge on social enterprise growth. The body of research touching upon the phenomenon is somewhat fragmented. In order to make an effort to create a solid common ground, this study draws from the theoretical starting points and guidelines developed within small firm growth research. By analyzing their use in social enterprise growth literature, the study offers insights on whether the proven theories and concepts from small firm context could be more systematically applied when investigating growth of social enterprises. Towards this end, the main findings from social enterprise growth research are classified under the three research streams on growth. One of them focuses on factors of growth, another investigates growth as a process and the third is interested in outcomes of growth. During the analysis, special attention is paid on exploring how social mission of the company and the pursuit of augmenting its social impact are dealt within those lines of research. The next step is to scrutinize and discuss some of the central building blocks of growth research, namely the unit of analysis, conceptualization of a firm and operationalizing growth, in relation to social enterprise studies. It appears that the social enterprise growth literature stresses the significance of 'social' both as a main driver and principle outcome of growth. As for the growth process, this emphasis is manifested by special interest in strategies and models tailored to disseminate social impact beyond organizational limits. Consequently, this study promotes more frequent use of business activity as a unit of analysis in the social enterprise context. Most of the times, it is their products, services or programs with which social enterprises and entrepreneurs aim to create the impact. Thus the focus should be placed on activities rather than on organizations. The study also seeks to contribute back to the small firm growth research. Even though the recommendation to think of business activities as an option for unit of analysis stems from there, it is all too rarely used. Social entrepreneurship makes a good case for testing and developing the approach further.
2602
67697
An Automated Business Process Management for Smart Medical Records
Abstract:
Nowadays, healthcare services are facing many challenges since they are becoming more complex and more needed. Every detail of a patient’s interactions with health care providers is maintained in Electronic Health Records (ECR) and Healthcare information systems (HIS). However, most of the existing systems are often focused on documenting what happens in manual health care process, rather than providing the highest quality patient care. Healthcare business processes and stakeholders can no longer rely on manual processes, to provide better patient care and efficient utilization of resources, Healthcare processes must be automated wherever it is possible. In this research, a detail survey and analysis is performed on the existing health care systems in Saudi Arabia, and an automated smart medical healthcare business process model is proposed. The business process management methods and rules are followed in discovering, collecting information, analysis, redesign, implementation and performance improvement analysis in terms of time and cost. From the simulation results, it is evident that our proposed smart medical records system can improve the quality of the service by reducing the time and cost and increasing efficiency
2601
67692
The Employer Brand as Perceived by Salespeople: A Study Based on Glassdoor Reviews
Abstract:
Employers desire a favorable brand as an employer. This research considers whether motivation theory is applied to identify universally desirable employer brand elements. Based on data from a website where employees give their opinion about their employer (N=200), this research examines what salespeople found positive and negative about their job. Results show that traditional motivators like opportunities of advancement, and 'hygiene' factors such as benefits and work conditions are a source of satisfaction for salespeople. We also found differences by sectors. Implications are related to sales force recruitment and management.