This paper presents an employee turnover intention model, which examines the effects of frontline employees’ perceptions of human resource practices (recruitment, selection, training, career growth opportunities, performance appraisal and compensation) on ...
In this article, we will make a comparative analysis of the evaluation and the developments in the Post-Keynesian Economics and then give the properties of Post-Keynesian Economics in terms of their assumptions and methodology, and their macroeconomic mode...
This paper addresses the microstructure of Central European public financial markets. The aim of the paper is to justify the development and potential of high frequency trading (HFT) on transition economies regulated markets. The regression analysis is applied over neighborhood economies. The data consists of 642 firm-year observation over years 2010-2012. The evidences show that there is lack of responsiveness of the return on equity towards the stock exchanges co-location.
Texting while driving is a dangerous practice becoming increasingly common, especially among young people. This paper aims to understand the role of social marketing communication in affecting people’s driving behaviors. The presented research compares the effectiveness of different social communication styles (traditional or shock), formats (text images, images, community initiatives and videos) and media (TV, radio, leaflet, poster, web, social networks) in influencing the use of a smartphone while driving. We found that shock advertising has a significant impact on drivers’ intentions about whether or not to use portable communication devices (i.e. smartphones, tablets) while driving. We also found that this impact especially counts for women. Both risk self-assessment and risk propensity improve after exposure to social advertisement. The strongest impact on recipients is achieved through shock advertising when broadcasted through online videos. Video advertising campaigns are also more likely to be shared than others on social networks, especially in the shock style advertisement. Finally, advertising through television and social media appear to have the highest impact on drivers’ behaviors. This paper offers some insights on how to design effective social communication strategies in order to affect drivers’ behaviors.
This paper explores the case of Toys “R” Us in order to understand the strategy of private equity-backed firms. It is a first attempt to investigate the target firm’s strategy from a dynamic capability perspective. The paper shows that the acquired firm mobilizes resources after acquisition in order to improve its competitive strategy within the traditional business. The paper confirms that the concerns about leverage buyouts are exaggerated because the acquired firm mobilizes resources to generate long-term growth. Moreover, the paper discusses possible improvements of the corporate strategy implemented by private equity-backed firms. After acquisition, private equity management could help push the target firms into developing the resource potentialities in the direction of their diversification. Future quantitative researches could verify the results of this qualitative work on a larger sample.
Predicted key business IT trends through to 2020 acknowledge there will be increased adoption of disruptive technologies that will impact within business contexts (Gartner (1), 2015). These include moves to small-screen marketing, rising value of big data intelligence and increased use of social systems. However, IT penetration and literacy gaps between advanced and emerging economies, as well as social and organisational issues associated with technological implementation of business strategy, provide challenges to adoption of these trends. Strategy As Practice (SAP) presents a potential solution. It is concerned with the practice of strategising, including both the formulation of strategy and implementation that delivers strategic renewal and change. Through the “doing of strategy”, organisations not only gain an insight into strategic management from a theoretical level, but also can focus on micro-level social activities, process and practices that characterise both organisational strategy and strategising. In this paper, the Pop-Up Research Unit (#PUPRU), a newly-established mobile research centre in the Salford Business School (SBS) will be discussed. It aims to adopt a SAP approach to inform business strategy. Three disruptive technologies - Beacon, Raspberry Pi and 3D printer - available as part of #PUPRU will be examined. Future experiments in various business scenarios and live projects evaluating how these digital disrupters can be employed will also be considered.
Why some customers decide to stay with existing service provider after having thought of switching has apparently not been examined adequately in extant research. The purpose of this research is to identify factors relevant to building constructs to represent switching barriers in online retail stock trading industry in Hong Kong. Review of extant literature, development of a questionnaire and focus group interviews are the three principal methods used for this research. Four factors that are relevant for measuring switching barriers are identified: two positive barriers involve service recovery and trust and two negative barriers relate to higher switching costs and lack of attractive alternatives.
In the process of promoting social enterprise, social entrepreneurs need to have ability of social impact and business management. This study constructs a talent nurturing system of training operation, management and social entrepreneurship for social enterprises. In the content, the talent nurturing system is based on social requirement and business operation which includes course, teaching hours and teaching methods. In the time horizon, the talent nurturing system includes operation skill training in the short-term, management training in the mid-term, and theory and analysis capability cultivation in the long-term. In the fostering agency, the talent nurturing system includes universities, government vocational training institutions (center), and social enterprise internship. The talent cultivation plan is based on ability requirement of social enterprises operation and management. Depending on the capabilities characteristics of social enterprise required, the talent cultivation plan will provide the most suitable training courses and training methods.
The financial statements of countries. The aim of this paper is to investigate the accounting systems used in those countries that today are driving the growth of the world economy, the so-called BRIC (Brazil, Russia, India and China), and to verify whether and to what extent the current global process of convergence of the different accounting systems with the International accounting Standards would also involve these countries. After an early introduction, an analysis is reported on the accounting practices adopted by each of the four countries and on the similarities and differences with IFRS. As you can read from the article, the countries are an active part of the process of convergence to IAS, however there are still many differences between the accounting practices used by individual countries and the international ones, due both to the specific economic conditions of developing countries and their peculiarities, and to a certain resistance to a full adoption of the model of international accounting standards. At the end of the article there is a table which highlights the distance between the accounting systems adopted in the countries with International Accounting Standards by comparing the financial statements of some companies prepared in accordance with both the two types of accounting standards.
Disclosure is an important topic in financial statement analysis. This paper analyzed 4.950 items of mandatory disclosure of 165 groups listed on the Italian stock exchange and belonging to the FTSE All Share. An OLS regression model was used to define the determinants that influence the mandatory disclosure of intangible assets. Results show that the weight of intangible assets, the size of the company and the return on equity are positively associated to the mandatory disclosure of intangible assets. This research contributes to defining the importance of mandatory disclosure.
The paper presents the results of an empirical analysis on the disclosure of the fair value measurement in the real estate sector following the introduction of IFRS 13. Fair value is an important criterion for IFRSs with many uses stated by different standards and over the years an intense debate has arisen about both the usefulness of fair value and its definition. In 2011 the IASB issued a new standard about fair value, its definition, its measurement and the related disclosure. The effective date of IFRS 13 was 1 st January 2013. The introduction of IFRS 13 is an opportunity to verify the state of art of the application of fair value as a subsequent measurement. Furthermore, the paper aims at verifying whether the introduction of IFRS 13 leads to an improvement in the disclosure reported in the notes. Focusing on investment properties, the paper aims at verifying the effects of the first application of IFRS 13 in the real estate sector, by means of an empirical research of Italian, French and German groups listed on the Stock Exchange. A total of 1,343 items were hand collected. The results show that the fair value model is used in 75% of cases of real estate companies which held investment properties. Disclosures about fair value measurement required by IFRS 13 are reported by many entities, but there are still companies not compliant with the new requirements.
This article examines the feasibility of using volatility as an asset class to diversify equity portfolios. Especially exchange-traded volatility products targeted at retail investors promise convenient but effective equity hedging. This study looks under the surface of these seemingly simple products, and backtests them in extensive portfolio diversification studies. We apply a wide range of test settings, including different volatility weights, product maturities, time periods, rebalancing patterns, and dynamic allocation strategies while adopting the perspective of U.S. equity investors over the volatile period from 2006 to 2011. We find that volatility exposures of up to 10%, implemented through mid-term volatility products or with a straightforward dynamic allocation strategy based on detecting trends in implied volatility, would have benefited equity portfolios in most scenarios.
The bankruptcy of General Motors was historical, not only because of the size but also because of the political nature of the process. The federal government was influential in the process which provided an outcome unique in the history of bankruptcy. This paper explores the implications of the General Motors bankruptcy on stakeholders especially those who unknowingly were exposed to risk. This paper puts into perspective how detrimental major bankruptcies can be, and it refutes the notion that only those who take a calculated financial risk are the only ones adversely affected by a bankruptcy.
The purpose of this research is to develop a model using financial ratios to predict corporate failure of listed companies in Sri Lanka. This study utilized publicly available data from annual reports of a sample of 70 failed firms and a sample of matched 70 non failed firms listed on Colombo stock market for a period covering the 2002 to 2008 financial years with logistic regression analysis. A total of fifteen financial ratios were used as predictor variables of corporate failure. Analysis of the statistical testing results indicated that the prediction accuracy of the model consists with financial ratios is 77.86% one year prior to failure. Furthermore, predictive accuracy of the model in all three years prior to failure is above 72%. Hence model is robust in obtaining accurate results for up to three years prior to failure. Final model includes three financial ratios; working capital to total assets, debt ratio and cash flow from operating activities to total assets. These variables are having more explanatory power to predict corporate failure. Therefore, model developed in this study can assist investors, managers, shareholders, financial institutions, auditors and regulatory agents in Sri Lanka to forecast corporate failure of listed companies.
In a business community shareholder activists are often perceived as a group with hidden agenda, whether it is social, economical, environmental, value based or any other. On the other hand this type of activism is becoming an increasingly sophisticated strategy of engagement, which exploits shareholders rights to engage companies on particular issues that are important to them. Although activism can take many forms, shareholders in transitional economies such as Croatian are still showing high level of passivity and inertia. On parallel basis corporate social responsibility (hereafter CSR) as a integrative model is gaining exponential attraction since it is more widely perceived as a new strategic source of competitive advantage. In that sense this paper explores interaction between corporations and one of their most powerful stakeholders, its shareholders. The research within this paper is focused on Croatian companies and is covering several aspects of shareholder activism. In this paper authors are trying to describe reasons behind passive investors' community and why they should act as a more vibrant corrective factor for possibly poor corporate governance.
This paper looks at the employment situation of Portuguese tourism graduates, particularly to the differences between the work situation of those employed in the tourism sector and those who are working outside this sector. Data was collected through an online questionnaire applied to the Portuguese tourism graduates in Portugal, comparing their salaries, working hours and schedules, contractual situation, hierarchical position and job satisfaction. Results evidenced that the tourism sector is not taking advantage of the available qualified human resources. Moreover, data suggests that tourism graduates employed outside the tourism sector are facing poorer working situations than those graduates employed within this industry.
The mobile payments service includes all the initiatives that enable payments or money transfer by cellular phone, regardless of the means of payment used (credit-debitprepaid cards, phone bill) and the technology involved (remote payment via internet, contactless payments at a POS or direct remittance by cellphones). The industry of mobile payments today is still in a start-up phase and the nature and extend of approaches to these innovations are not uniform around the world and inside the same countries. The way and the intensity it will be widespread in the market is going to depend on the ecosystems that would be designed and developed. As for this purpose, the scope of the article is first to highlight the main variables enabling or limiting its diffusion in the market. And secondly it is to highlight why retail banks should enter the mobile ecosystem mainly to regain their key role in the market as they had in the past.
We investigated the characteristics and motives of Italian voluntary delisting observing a period of eleven years, 2001 to 2011. The final sample is made up of 53 industrial companies, compared with a control sample of 106 companies still listed in the period. Main goal is to assess if any signals can predict a delisting operation for listed companies in Italy and if Italian market shows differences with previous investigation in Continental Europe and US. Practical implications of results achieved can help to highlight on Public to Private phenomenon in Italy, still not enough observed considering the high number of delisted companies in the last decade relating to a relative small number of listed companies
The Georgia Institute of Technology has been a catalyst for economic growth in the Southeast United States since its founding in 1885. Over the past 30 years, it has become known as one of the top technological universities in the world. As part of a strategic planning effort commenced in mid-2009, it sought to strengthen its thought leadership and impact through the development and implementation of an innovation ecosystem strategy. The Institute serves as the integrating focus within its region to promote (and provoke) disruptive thought, use-inspired research, experimentation, and accelerated implementation through novel educational, research, and industry partnership programs. Since 2009, there has been a marked increase in economic development impact. This paper describes the guiding principles, strategy, innovative programs, benefits, and lessons learned associated with a regional innovation ecosystem.
