Abstract: This research aimed to find out the determining
factors for ISO 14001 EMS implementation among SMEs in
Malaysia from the Resource based view. A cross-sectional approach
using survey was conducted. A research model been proposed which
comprises of ISO 14001 EMS implementation as the criterion
variable while physical capital resources (i.e. environmental
performance tracking and organizational infrastructures), human
capital resources (i.e. top management commitment and support,
training and education, employee empowerment and teamwork) and
organizational capital resources (i.e. recognition and reward,
organizational culture and organizational communication) as the
explanatory variables. The research findings show that only
environmental performance tracking, top management commitment
and support and organizational culture are found to be positively and
significantly associated with ISO 14001 EMS implementation. It is
expected that this research will shed new knowledge and provide a
base for future studies about the role played by firm-s internal
resources.
Abstract: The main purpose of this research paper was to study
the requirements for human capital development in order to be ready
for ASEAN Community. Thai education institutions are encountering
a challenging course of change to be effective members of ASEAN
Economic Community (AEC) in 2015. It was vital that everyone and
every organization participate in the process of becoming part of the
ASEAN community, a pluralistic society. Thai universities will be
required to partake in the human capital development in a variety of
fields. In order to assist the whole nation to enhance potential
development, there was a need to collaborate with other ASEAN
leading universities to do researches to ameliorate the qualifications
and capabilities of university management, administers, professors,
and staffs.
Abstract: The recent global financial problem urges government
to play role in stimulating the economy due to the fact that private
sector has little ability to purchase during the recession. A concerned
question is whether the increased government spending crowds out
private consumption and whether it helps stimulate the economy. If
the government spending policy is effective; the private consumption
is expected to increase and can compensate the recent extra
government expense. In this study, the government spending is
categorized into government consumption spending and government
capital spending. The study firstly examines consumer consumption
along the line with the demand function in microeconomic theory.
Three categories of private consumption are used in the study. Those
are food consumption, non food consumption, and services
consumption. The dynamic Almost Ideal Demand System of the three
categories of the private consumption is estimated using the Vector
Error Correction Mechanism model. The estimated model indicates
the substituting effects (negative impacts) of the government
consumption spending on budget shares of private non food
consumption and of the government capital spending on budget share
of private food consumption, respectively. Nevertheless the result
does not necessarily indicate whether the negative effects of changes
in the budget shares of the non food and the food consumption means
fallen total private consumption. Microeconomic consumer demand
analysis clearly indicates changes in component structure of
aggregate expenditure in the economy as a result of the government
spending policy. The macroeconomic concept of aggregate demand
comprising consumption, investment, government spending (the
government consumption spending and the government capital
spending), export, and import are used to estimate for their
relationship using the Vector Error Correction Mechanism model.
The macroeconomic study found no effect of the government capital
spending on either the private consumption or the growth of GDP
while the government consumption spending has negative effect on
the growth of GDP. Therefore no crowding out effect of the
government spending is found on the private consumption but it is
ineffective and even inefficient expenditure as found reducing growth
of the GDP in the context of Thailand.
Abstract: Not with standing the importance of foreign highly
skilled professionals for host economies, there is a paucity of
research studies investigating the role of the corporate social context
during the integration process. This research aims to address this
paucity by exploring the role of social capital in the integration of
foreign health professionals. It does so by using a qualitative research
approach. In this pilot study the hospital sector forms this study-s
sample and interviews were conducted with HR managers, foreign
health professionals and external HR consultants. It was found that
most of the participating hospitals had not established specific HR
practices and had only partly linked the development of
organisational social capital with a successful integration process.
This research contributes, for example, to the HR literature on the
integration of self-initiated expatriates by analysing the role of HRM
in generating organisational social capital needed for a successful
integration process.
Abstract: This paper fist examines three set of bivariate cointegrations between any two of current accounts, stock markets, and currency exchange markets in ten Asian countries. Furthermore, we examined the effect of country characters on this bivariate cointegration. Our findings suggest that for three sets of cointegration test, each sample country at least exists one cointegration. India consistently exhibited a bi-directional causal relationship between any two of three indicators. Unlike Pan et al. (2007) and Phylaktis and Ravazzolo (2005), we found that such cointegration is influenced by three characteristics: capital control; flexibility in foreign exchange rates; and the ratio of trade to GDP. These characteristics are the result of liberalization in each Asian country. This implies that liberalization policies are effective on improving the cointegration between any two of financial markets and current account for ten Asian countries.
Abstract: The paper discusses European Lifelong Learning policy in the European enlargement to the Balkan. The European Lifelong Learning policy with Human Capital approach is researched in the country case of Macedonia. The paper argues that Human Capital approach focusing on instrumental and economic importance of learning for employability and economic growth needs to be complemented with Capability Approach for intrinsic and noneconomic needs of learning among the ethnic minorities. The paper identifies two dimensions of importance – minority languages and civic education – that the Capability Approach may develop to guarantee equal opportunities to all to benefit from European educational and lifelong learning development and to build an inclusive and socially just democracy in Macedonia.
Abstract: In this paper usefulness of quasi-Newton iteration
procedure in parameters estimation of the conditional variance
equation within BHHH algorithm is presented. Analytical solution of
maximization of the likelihood function using first and second
derivatives is too complex when the variance is time-varying. The
advantage of BHHH algorithm in comparison to the other
optimization algorithms is that requires no third derivatives with
assured convergence. To simplify optimization procedure BHHH
algorithm uses the approximation of the matrix of second derivatives
according to information identity. However, parameters estimation in
a/symmetric GARCH(1,1) model assuming normal distribution of
returns is not that simple, i.e. it is difficult to solve it analytically.
Maximum of the likelihood function can be founded by iteration
procedure until no further increase can be found. Because the
solutions of the numerical optimization are very sensitive to the
initial values, GARCH(1,1) model starting parameters are defined.
The number of iterations can be reduced using starting values close
to the global maximum. Optimization procedure will be illustrated in
framework of modeling volatility on daily basis of the most liquid
stocks on Croatian capital market: Podravka stocks (food industry),
Petrokemija stocks (fertilizer industry) and Ericsson Nikola Tesla
stocks (information-s-communications industry).
Abstract: This paper examines the role of telecommunications in sustainable development of urban, rural and remote communities in the Northern Territory of Australia through the theoretical lens of Social Capital. Social Capital is a relatively new construct and is rapidly gaining interest among policy makers, politicians and researchers as a means to both describe and understand social and economic development. Increasingly, the concept of Social Capital, as opposed to the traditional economic indicators, is seen as a more accurate measure of well-being. Whilst the essence of Social Capital is quality social relations, the concept intersects with telecommunications and Information Communications Technology (ICT) in a number of ways. The potential of ICT to disseminate information quickly, to reach vast numbers of people simultaneously and to include the previously excluded, is immense. However, the exact nature of the relationship is not clearly defined. This paper examines the nexus between social relations of mutual benefit, telecommunications access and sustainable development. A mixed methodological approach was used to test the hypothesis that No relationship exists between Social Capital and access to telecommunications services and facilities. Four communities, which included two urban, a rural and a remote Indigenous community in the Northern Territory of Australia are the focus of this research paper.
Abstract: Among many agro- based cottage industries in India
sericulture has been promoted as an agro-based, labor intensive, rural
oriented cottage industry, providing gainful employment mainly to
the weaker and marginalized section of the society specially tribal.
Sericulture occupies the place of pride in the rural economy can be
practiced even with very low land holding, low gestation, high
returns make sericulture an ideal program, requiring little capital
investment. In 2010-2011 the employment in sericulture sector was
72.5 lakh persons. The involvement of landless rural people in tasar
sericulture is because they understood its potential for rural and tribal
upliftment. This article demonstrates that certain developmental
initiatives have been playing an important role in the socio-economic
progress of tribal masses in Raigarh district and explains the
increased returns from sericulture as a result of development
programs. The study concludes with some suggestions to improve the
long term feasibility of sericulture.
Abstract: Capital structure is one of the most important financial
decisions in corporate financing strategy. It involves the choice of
debt and equity level in financing a company-s operations. This study
aims to investigate whether the capital structure choice of Malaysian
electrical and electronic manufacturing companies that are listed in
the Bursa Malaysia can be explained by factors that have been found
by most studies as dominant determinants of capital structure
(company size, profitability, asset tangibility, liquidity and growth).
Using debt ratio as the proxy for capital structure and applying
pooled ordinary least square multiple regression estimation, the
results showed that on average, Malaysian electrical and electronic
manufacturing companies used less debt in funding their business
operations. The findings also showed that size and asset tangibility
has a significant positive relationship with debt level, while liquidity
has a negative significant relationship with leverage.
Abstract: The proposed paper examines strategies whose aim is
to counter the all too often sighted process of abandonment that
characterizes contemporary cities. The city of Nicosia in Cyprus is
used as an indicative case study, whereby several recent projects are
presented as capitalizing on traditional cultural assets to revive the
downtown. The reuse of existing building stock as museums,
performing arts centers and theaters but also as in the form of various
housing typologies is geared to strengthen the ranks of local residents
and to spur economic growth. Unlike the examples from the 1960s,
the architecture of more recent adaptive reuse for urban regeneration
seems to be geared in reinforcing a connection to the city where the
buildings often reflect the characteristics of their urban context.
Abstract: Intellectual capital measurement is a central aspect of knowledge management. The measurement and the evaluation of intangible assets play a key role in allowing an effective management of these assets as sources of competitiveness. For these reasons, managers and practitioners need conceptual and analytical tools taking into account the unique characteristics and economic significance of Intellectual Capital. Following this lead, we propose an efficiency and productivity analysis of Intellectual Capital, as a determinant factor of the company competitive advantage. The analysis is carried out by means of Data Envelopment Analysis (DEA) and Malmquist Productivity Index (MPI). These techniques identify Bests Practice companies that have accomplished competitive advantage implementing successful strategies of Intellectual Capital management, and offer to inefficient companies development paths by means of benchmarking. The proposed methodology is employed on the Biotechnology industry in the period 2007-2010.
Abstract: This study examines the impact of working capital
management on firms- performance and market value of the firms in
Nigeria. A sample of fifty four non-financial quoted firms in Nigeria
listed on the Nigeria Stock Exchange was used for this study. Data
were collected from annual reports of the sampled firms for the
period 1995-2009. This result shows there is a significant negative
relationship between cash conversion cycle and market valuation
and firm-s performance. It also shows that debt ratio is positively
related to market valuation and negatively related firm-s
performance. The findings confirm that there is a significant
relationship between Market valuation, profitability and working
capital component in line with previous studies. This mean that
Nigeria firms should ensure adequate management of working
capital especially cash conversion cycle components of account
receivables, account payables and inventories, as efficiency working
capital management is expected to contribute positively to the firms-
market value.
Abstract: Knowledge is attributed to human whose problemsolving
behavior is subjective and complex. In today-s knowledge
economy, the need to manage knowledge produced by a community
of actors cannot be overemphasized. This is due to the fact that
actors possess some level of tacit knowledge which is generally
difficult to articulate. Problem-solving requires searching and sharing
of knowledge among a group of actors in a particular context.
Knowledge expressed within the context of a problem resolution
must be capitalized for future reuse. In this paper, an approach that
permits dynamic capitalization of relevant and reliable actors-
knowledge in solving decision problem following Economic
Intelligence process is proposed. Knowledge annotation method and
temporal attributes are used for handling the complexity in the
communication among actors and in contextualizing expressed
knowledge. A prototype is built to demonstrate the functionalities of
a collaborative Knowledge Management system based on this
approach. It is tested with sample cases and the result showed that
dynamic capitalization leads to knowledge validation hence
increasing reliability of captured knowledge for reuse. The system
can be adapted to various domains.
Abstract: In this competitive age, one of the key tools of most successful organizations is knowledge management. Today some organizations measure their current knowledge and use it as an indicator for rating the organization on their reports. Noting that the universities and colleges of medical science have a great role in public health of societies, their access to newest scientific research and the establishment of organizational knowledge management systems is very important. In order to explore the Application of Knowledge Management Factors, a national study was undertaken. The main purpose of this study was to find the rate of the application of knowledge management factors and some ways to establish more application of knowledge management system in Esfahan University-s Medical College (EUMC). Esfahan is the second largest city after Tehran, the capital city of Iran, and the EUMC is the biggest medical college in Esfahan. To rate the application of knowledge management, this study uses a quantitative research methodology based on Probst, Raub and Romhardt model of knowledge management. A group of 267 faculty members and staff of the EUMC were asked via questionnaire. Finding showed that the rate of the application of knowledge management factors in EUMC have been lower than average. As a result, an interview with ten faculty members conducted to find the guidelines to establish more applications of knowledge management system in EUMC.
Abstract: In this paper, we discuss the paradigm shift in bank
capital from the “gone concern" to the “going concern" mindset. We
then propose a methodology for pricing a product of this shift called
Contingent Capital Notes (“CoCos"). The Merton Model can
determine a price for credit risk by using the firm-s equity value as a
call option on those assets. Our pricing methodology for CoCos also
uses the credit spread implied by the Merton Model in a subsequent
derivative form created by John Hull et al . Here, a market implied
asset volatility is calculated by using observed market CDS spreads.
This implied asset volatility is then used to estimate the probability of
triggering a predetermined “contingency event" given the distanceto-
trigger (DTT). The paper then investigates the effect of varying
DTTs and recovery assumptions on the CoCo yield. We conclude
with an investment rationale.
Abstract: The concurrent era is characterised by strengthened interactions among financial markets and increased capital mobility globally. In this frames we examine the effects the international financial integration process has on the European bond markets. We perform a comparative study of the interactions of the European and international bond markets and exploit Cointegration analysis results on the elimination of stochastic trends and the decomposition of the underlying long run equilibria and short run causal relations. Our investigation provides evidence on the relation between the European integration process and that of globalisation, viewed through the bond markets- sector. Additionally the structural formulation applied, offers significant implications of the findings. All in all our analysis offers a number of answers on crucial queries towards the European bond markets integration process.
Abstract: Intelligent technologies are increasingly facilitating
sustainable water management strategies in Australia. While this
innovation can present clear cost benefits to utilities through
immediate leak detection and deference of capital costs, the impact of
this technology on households is less distinct. By offering real-time
engagement and detailed end-use consumption breakdowns, there is
significant potential for demand reduction as a behavioural response
to increased information. Despite this potential, passive
implementation without well-planned residential engagement
strategies is likely to result in a lost opportunity. This paper begins
this research process by exploring the effect of smart water meters
through the lens of three behaviour change theories. The Theory of
Planned Behaviour (TPB), Belief Revision theory (BR) and Practice
Theory emphasise different variables that can potentially influence
and predict household water engagements. In acknowledging the
strengths of each theory, the nuances and complexity of household
water engagement can be recognised which can contribute to
effective planning for residential smart meter engagement strategies.
Abstract: The development of One Tambon One Product
(OTOP) became the policy of the government in 1997 after the
former Prime Minister had been in power. The strategy of sections is
currently set for the policy. OTOP has become the part of the way of
community lives around the country. OTOP may be developed under
changing into ASEAN economic community in 2015 because of the
flow of capitals, productions, and many workers in the region. All
sectors are improved for the change. The purposes of study were to
study the strength and weakness of the OTOP-creating process via its
policy and to lead to the strategy to be able to apply before changing.
The methodology is qualitative to study its policy including
document and to interview experienced persons. The findings showed
that the effort of improvement of all sectors obviously involves with
OTOP development. Particularly, the strategic administration of
OTOP is in every level of the state, central sector, region, and
community.
Abstract: There is no doubt that Internet technology is widely used by hotels and its demand is constantly booming. Hotels have largely adopted website information services through using different interactive tools, dimensions and attributes to achieve excellence in functionality and usability but these do not necessary equate with website effectiveness. One way to investigate the effectiveness of hotel website is from the perspective ofe-consumers. This exploratory research is to investigate the perceived importance of websites effectiveness of some selected independent small and medium-sized hotels (SMHs) located in Dubai, United Arab Emirates, from the perspective of Omanie-consumers by using non-random sampling method. From 400 questionnaire addressed to respondents in 27 organizations in Muscat the capital city of Oman, 173 are valid. Findings of this study assist SMHs management in Dubai with the reallocation of their resources and efforts in order to supportebusiness development and to sustain a competitive advantage.