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Monetary Unions and its Discontent: An Institutional Analysis of the West African Monetary Institute

Description
 
The mission of the West African Monetary Institute (WAMI) is to create a common Central Bank and monetary unit for the regions member countries. In recent years, we have seen regional blocs forge agreements to strengthen their competitive advantage. In the West African region, member states have begun the consolidation process with limited success. The recent Euro crisis has given monetary unions globally an opportunity to reexamine their goal of convergence. In this study, the researcher conducts an institutional analysis to examine the ongoing pursuit of monetary and fiscal convergence among member countries. Finally, it is important to note that monetary convergence is of paramount importance because West African countries are too small to achieve economies of scale.

The Impact of Human Capital on Economic Growth: Case of Tunisia, Morocco, Japan and South Korea

Description
 
Since the early ’90s, the empirical literature on human capital and economic growth is full of conflicting results. Indeed, most theoretical analyzes have confirmed that human capital has a positive and significant effect on growth. This article explores time series causality between human capital (particularly higher education) and growth in four countries economically different, namely Tunisia, Morocco, Japan and South Korea during the period 1960-2012. For this, we use cointegration techniques and Granger causality tests. The results show that cointegration between higher education and economic growth exists only in Japan and South Korea. This finding is explained by the high level of economic growth and human capital of those countries.

The Effect of Inequality Distribution of Income (Gini Index as Selected Indicator) on Health Indicators (Infant Mortality Rate and Life Expectancy as Selected Indicators) in Developing Countries : (1995-2008)

Description
 
The health is the one basic needs of human and base of each activities that people do. The evidences showthat there are strong relationship between high levels of health and high levels of income. The highincome causes to better health via accessing to healthy water, better nourish, regard of hygienic principlesand ability more purchase as well as better quality of medicine watchfulness. On the other hand more andbetter health in immense and individualism level causes to increase labor productivity and this progresscontinues between health and income. This study is a descriptive – analytic research and it analyzes theeffect of inequality distribution of income and control variables on the health indicators (life expectancyand infant mortality rate) for a sample 22 of developing countries during terms (1995-2008) with usingpanel data and the software Eviews 7. The results show that inequality distribution of income hasadversely affect on life expectancy and a significant positive effect on infant mortality rate. Also, the percapita income, education and saving that are used as control variables and by taking constant incomelevel, theses have a positive effect on life expectancy.

Four Factors Model in Asset Pricing: Fama & French Three Factors Model is Combined With Liquidity in the Stock Exchange of Vietnam

Description
 
This paper aims to assess the application of Fama and French three factors models in Vietnam’s stock market from January 2007 to December 2011. The selected listing companies must continuously had been listed for at least 2 years and non-stop trading or moved to the other exchange. According that, in 2007 the author selected 162 companies, and in 2008, 2009, 2010 and 2011, there were 204, 308, 382, 382 listed companies were selected in turn. The author also divided them into 6 groups: B/H, B/M, B/L; S/H, S/M and S/L. In which, portfolios B and S are to evaluate the effects of size and risk scale to the profitability rate (size measured by capitalization of the stock market) and portfolios H, M and L are measuring the effects of book to market value. The result are appearing that Fama and French three factor models explaining the relationship between rate of return and risk in superior to CAPM. This research also evaluates the impacts of liquidity and risk of liquidity to stock returns which were listed in Vietnamese stock market. According to this research, liquidity ratio is the portion between number of share traded and number of share outstanding (this called Liq2) as same as Amihud and Mendelson’s research (1986), Datar-Naik and Radcliffe’s research (1998), and Wang and Iorio’s research (2007). Moreover, the authors also use the alternative approaches to evaluate liquidity: the average of traded value in a month (this called Liq1). Contrary to previous researches, this research shows that correlations between indicators Liq1 and Liq2 and stock returns are positively correlations. Finally, we evaluates four factor model by combing the FF3 and liquidity. The result are appearing this models explaining the relationship between rate of returns and risk in superior to CAPM and FF3. So we suggest the four factor model: FF3 combined with liquidity in evaluating stocks exchange of Viet Nam.

Are Resource Abundant Countries Afflicted By The Resource Curse?

Description
 
We find evidence for the ‘resource curse’ phenomenon for the decade of the 1980s only, as revealed by higher average annual rate of GDP growth for the resource scarce countries as compared with the top oil and gas exporting countries and ore and mineral rich countries. The low growth rate prediction of the resource curse literature is refuted as the average annual rate of growth of ore and mineral rich countries is higher, while that of the top oil and gas exporting countries much higher as compared with the resource scarce countries for the 1990 and 2000 decades.

Revisiting the Contention of the FD/GDP Nexus of the Northern Sudanese Economy: A New Startling Empirical Result

Description
 
Sudan, the largest continent in Africa, has been experiencing a critical internal crisis for several decades. This led to the split of the country between the south and the north. As a result of this, it is pertinent to ask whether the existing economic prospects and prosperity of Northern Sudan could aid in fostering its economic growth after its split with Southern Sudan. Could the financial development of the country foster its GDP growth despite the country’s massive investment in its decade-long war? If not, what are the possible explanations for the country’s economic growth profile in the modern era? From empirical findings in this respect, what factors may impede on the overall growth prospects of the country’s economy in both the long run and the short run? To answer such questions, we measure the short-run and long-run impact of financial development on the economic growth of Northern Sudan and also investigate whether the relationship between financial development and economic growth is monotonic or not. The study uses time series data from 1980 to 2011using the ARDL bounds-testing approach to cointegration and the U test of Mehlum and Sasbuchi. Surprisingly, this study reveals that, among the three selected indicators of financial development, it is only the ratio of credit issued to the private sector by the banks to GDP that has a significant contributory impact in fostering the economic growth of the country in the long-run, while in the short-run, fixed capital formation and financial development make a significant contribution. The study also discovered that the relationship between financial development and GDP growth in the country is non-monotonic, meaning that there is too much finance in the economy due largely to the presence of international sanctions that have triggered a high rate of inflation.

Importance of Corporate Governance Quality and Voluntary Disclosures of Corporate Governance Information in Listed Malaysian Family Controlled Businesses

Description
 
This paper investigates the impact of family control on the association between corporate governance quality and voluntary disclosures of corporate governance information of publicly listed Malaysian family controlled businesses. In addition, the impact of incentive factors are also examined for both family and non-family controlled businesses in relation to voluntary disclosures. The findings suggest that the positive association between corporate governance quality and voluntary disclosures is weaker in family controlled businesses. Stock-based compensation significantly impacts the association.

Distribution of the Livelihood Assets among the Hardcore Poor: Evidence from Kedah, Malaysia

Description
 
The aim of this study is to analyze the distribution of the livelihood assets among the hardcore poor in mukim (sub-district) Kupang, Kedah. Based on the Sustainable Livelihood Analysis (SLA), a structured questionnaire has been designed to collect information on the livelihood assets of 150 hardcore poor in mukim Kupang which consist of financial, human, physical, natural and social assets. The study found that, on average, the possession of natural asset among the hardcore poor was the lowest as compared to other assets and their human and social asset were also rather low. The finding from this study may facilitate the local and state governments in understanding the root cause of poverty in Kedah. For effective intervention, this study suggests that emphasis should be given to the possession of natural and human assets among the hardcare poor, rather than highly relying on financial assistance policies.

Indonesian Islamic and Conventional Equity Fund Performance Measurement using Sharpe, Modified Snail Trail, and Morningstar Rating Groundwork

Description
 
This research aims to assess the performance of equity fund in Indonesia, Islamic and Conventional, whether they can outperform the market. The samples used in this research are 36 equity funds which have been established prior to January 2008. The performance measurement methods are rating based on return, Sharpe ratio, Modified Snail Trail, and Morningstar. This research finds that the performance of Islamic equity fund does not differ significantly compared to market and conventional equity fund based on return and Sharpe ratio. Based on rating-based-performance, conventional equity fund can provides higher rating performance than Islamic equity fund. The finding in high rating portfolio is quite obvious, high return and Sharpe ratio rating portfolios produce the highest annual expected return of 13.96%. Meanwhile, Modified Snail Trail method shows 10.65% expected return, and the lastly, Morningstar rating indicates 8.32% annual return. These portfolios, except for Morningstar rating, outperform to benchmark portfolios namely, equally weighted portfolio and minimizing risk portfolio in all of three categories.

The relationship between Independent Non Executive Director’s and Audit Committee on Firm Performance among Malaysian Listed Companies

Description
 
Various literature have discussed about various influences of corporate governance elements in firm performance The general assessment is corporate governance act as an instrument to support management’s to achieve its desired goals with the stakeholder value especially in increase financial performance.Despite the broad studies of corporate governance there is still a different argument in the view of the influence of corporate governance on financial performance. Therefore, the aim of this paper is to identify the influence of two corporate governance variables on firm performance. The corporate governance measurement was measured by the Independent non executive director and audit committee as independent variables and firm performance is measured by return on equity (ROE) and earnings per share (EPS) as dependent variables. This study is purely quantitative whereby data were collected from secondary source such as published in journals and Annual Reports of the companies. This study discovered that, there is a significant influence of corporate governance on firm performance. Therefore, the results show that good corporate governance practiceinfluence firm performance. Finally, it’s hoped that this study provides current corporate governance set-up in Malaysia that can be used to improve thedevelopment of corporate governance.

Oil Price and Exchange Rate Relationship for ASEAN-5 Countries: A Panel Study Approach

Description
 
The goal of this paper is to estimate the long run effects of real oil price and real interest rate differential on real exchange rate for a monthly panel of ASEAN-5 countries from 1983 to 2012. The modeling exercise begins with the determination of the stationarity condition of the variables which are found to be integrated of order one. Using several panel cointegration tests, the paper finds evidence of cointegration among the three variables. Finally, using pooled mean group estimator, the paper finds a negative and statistically significant impact of real oil price on real exchange rate for ASEAN-5 countries, implying that increase in real oil price leads to real exchange rate appreciation.

A Study on Performance Efficiency of Nationalized Banks of India: A DEA Approach

Description
 
Purpose: The aim of this research work is to investigate and examine the performance of the Nationalized Banks of India individually and to identify the best operating banks.Design / Methodology/ Approach: For this study the researcher collected the data of the Nationalized Banks for the financial years 2007 to 2012 by considering four input variables and three output variables. The Data Envelopment Analysis technique has been employed to study the performance of the banks individually. Findings: Our study reveals that : Only the 21% banks are relatively efficient based on the input oriented technical efficiency [CRS]. Only 31.6% banks are relatively efficient based on the input oriented technical efficiency [VRS]. Altogether only 21% of the banks are functioning effectively and efficiently and the remaining banks are not functioning up to that expected level.

The Financial Performance of Cloud Computing

Description
 
With advanced information technology, compare to the past operation, the significant difference is the companies no longer need to set up their own costly the large server, instead an external professional supplier "cloud computing" technology would be increasingly adopted nowadays. The main purpose of this study is to examine the financial performance whether would be improved after enterprises implemented cloud computing technology. According to the analysis results, we found that the cost structure and Return of Sales (ROS) of enterprises adopted cloud computing are significant improved. 

Relationships among Team Trust, Team Cohesion, Team Satisfaction, Team Effectiveness and Project Performance as Perceived by Project Managers in Malaysia

Description
 
Today, more and more project teams are formed to achieve organisational objectives as organisations generally recognized the importance and benefits of project teams. Rationales for this study include: (a) it is unclear from literature what kind of relationships among performance outcomes, team attitudinal outcomes and team behavioural outcomes in a project setting, (b) it is unclear from literature what are the team outcome factors that can predict project performance, and (c) what kind of result team outcome factors can produce in a project setting whereby there is resource and time constraints compare to normal work teams which are ongoing and operational in nature. This study developed a research model underpinned on Cohen & Bailey’s (1997) Team Effectiveness Framework to empirically analyze some team outcome factors. Result showed that when project team trust is high, this will improve project performance, team satisfaction, team effectiveness and team cohesion. At the same time, strong team cohesion also increases team satisfaction. However, strong team cohesion is not predicting project performance and team effectiveness positively. On the contrary, strong team cohesion is actually deteriorating the project performance. The intervention of team satisfaction can improve project performance and team effectiveness. Insignificant relationship between team effectiveness and project performance suggests that team effectiveness alone cannot predict project performance directly. Discussion, conclusion and limitations are also included in this article.

Brand as a Strategic Asset and Its Competition in Consumer Product Industry (Empirical Study of the Brand Earned Indonesian Best Brand Award 2011)

Description
 
Brand has an important role as a firm’s strategic resource. Recently, they play not only for product identity, differentiating from others or as a logo, symbol; but also as a strategic asset by which the firm capabilitiesand core competence can increase. This research exlpore the brand as a firm strategic asset and focus on its dynamic of competition in industry. Specifically, this research aim to identify the role of brand as one of firm resources to catch up its competitive advantage. Using winner brands which follow the Indonesian Best Brand Award (IBBA), the research analyze with VRIN (Valuable, Rare, Inimitability, Non-substituability) framework. The result show that the winner are brands of company that have long history in industry. Not only, have an experience, those companies also have a tremendous money to promote through the intensive advertising. As a consequence, they facing a volatile competition in industry. From the VRIN framework, all brands become a strategic resource of their company.

The Relationship among Brand Experience, Brand Image and Customer Satisfaction of Facebook Users in Indonesia

Description
 
This study examined relationships among brand experience, brand image and customer satisfaction by using Facebook as the research object. Facebook.com as the new communication media becomes popular around the world. Based on the main purpose of product and service to achieve customer satisfaction, the study indicated that brand experience and brand image had a positive influence to support that goal. Its samples were university students in Indonesia and were analyzed based on three variables i.e brand experience, brand image and customer satisfaction. Brand experience consists of four dimensions (1) sensory, (2) affective, (3) behavioral, (4) intellectual. Brand image consists of eight items. Customer satisfaction consists of six items. This research indicated that brand experience had positive influence to brand image and customer satisfaction. However, brand image had positive influence to customer satisfaction.

Human Capital and Technological Catch-up in the Asian Developing Countries

Description
 
The importance of technology transfer in economic growth has been emphasized in recent research. Developing countries can increase their productivity and efficiency levels through the acquisition of technological knowledge from the advanced countries. Thus, the ability of a country to take advantage of foreign technologies is important in determining the successful of technology diffusion. Human capital not only acts as an input in the production function, it also contributes to facilitate the adoption of new technology. This paper empirically investigates the impact of the aggregate level effect and composition of human capital in the process of technology diffusion and productivity growth in a panel of 16 Asian developing countries over the period 1970 – 2009. We test the hypothesis by adopting logistic function of technology diffusion model by Benhabib and Spiegel (2005).

Inadequacy of Accounting Records And Poor Budgetary Planning: A Threat To Entity’s Going Concern

Description
 
Ondo State Is Known To Be Predominantly An Agro – Allied Based, Engaging In Agricultural Activities Such As Cocoa Production, Timber, Fishery And To A Little Extent Palm Kernel. Of All These, Cocoa Production Occupies The Central Position. Cocoa Activity Is A Major One In Ondo State Creating Employment Opportunities And Incomes For Both The Government And Individuals Engaged In It. However, A Cursory Observation Indicates That A Significant Number Of Licensed Buying Agents (Lba’s) Engaging In Cocoa Trading Discontinued With It While Some Even Go Bankrupt After Four To Five Years Of Their Trading Due To Accumulation Of Debts. This Paper Examined Cocoa Marketing /Trading Activity In Idanre With A View To Determining Causes Of Failure Among Cocoa Traders. The Research Was A Case Study, Survey Design While The Analysis Follows The Empirical Causal Design. Data For The Study Were Derived From One Hundred And Fifty (150) Structured Questionnaire Administered On Selected Lba’s And Public Officials Responsible For Controlling Cocoa Business Activity In The Area. The Selection Was Made Using Purposive Random Sampling. However, Only One Hundred And Thirty One (131) Were Retrieved. Other Data Were Obtained From Government Records, Publications And Internet Among Others. The Study Made Use Of Both Descriptive And Empirical Analysis. The Descriptive Analysis Employs The Use Of Tables And Charts To Describe The Characteristics Of The Responses In The Questionnaire While The Empirical Study Uses The Method Of Pooled Data Regression To Analyse The Relationship. The Paper Revealed That There Is A Statistical Significance Between Inadequate Accounting Records, Poor Budgetary Planning And Going Concern Threats. The Paper Recommends The Application Of Proper Records Keeping As A Panacea For Going Concern Threats. Also, There Is A Need For Sound Budgetary Planning To Serve As A Framework Through Which The Trading Activities Could Be Tracked, Directed And Monitored.

Is Financial Development A Factor to the Leading Growth Profile of the South African Economy in the Sub-Saharan Continents? Uncovering the Hidden Secret

Description
 
This paper investigates the factors contributing to the formidable growth rate of the South African economy. Specifically, we determine whether the leading role of the South African economy in the Sub-Saharan African region is a result of its sophisticated and resilient financial sector development. If not, the paper tries to identify the possible explanations for the country’s economic growth profile in recent times. From a series of empirical findings, the paper assesses the factor(s) that could impede the overall growth profile of the country’s economy in both the long-run and the short-run. To do this, we measure the short-run and long-run impacts of financial development on economic growth of the South African economy, and we also investigate whether the relationship between financial development and economic growth is monotonic or not. The study employs time series data from 1980 to 2011. Using the ARDL bounds-testing approach to cointegration and the U test of Mehlum and Sasbuchi, the study reveals that trade openness and the ratio of credit issued to the private sector by banks to GDP have fuelled South Africa’s economic growth in both the long-run and the short-run. Similarly, the U test also discovered that the relationship between financial development and GDP growth in the country is non-monotonic. Surprisingly, M3 has a short-run negative influence on GDP while the greatest and most crucial long-run factor that has impeded the accumulated growth profile of the South African economy is the low productive contribution of the country’s population to GDP.

Minimum Wage Policy in Malaysia: Its Impact and the Readiness of Firms

Description
 
The minimum wage policy in Malaysia was announced in 2012 and it is expected to be implemented in all stages by the year 2013. The implementation of this policy is postponed among small &medium enterprises (SMEs) with financial problems. There are many supporting factors for the government to implement this policy, partly because it is time for Malaysia to focus more on high quality products by using skilled workers. The purpose of this research is to investigate the potential impacts of this policy, both the positive and negative aspects. It is also to investigate the readiness of SMEs with regarding to this minimum wage policy; the challenges that might be faced by SMEs; and the potential opportunities and benefits gain from this policy. It is an exploratory research to have better comprehension of the nature of the issue.

Nigerian Banks and Global Challenges-Further Evidence

Description
 
This paper x-rays the Nigerian banking sector as well as the various reforms embarked by the Central Bank of Nigeria to strengthen Nigerian banks. Ranking of Nigerian banks among the top 1000 world banks was also examined. The paper is of the view that for Nigerian banks to compete favourably with her peers globally, they need to embrace good corporate governance, put customers’ on the drivers’ seat, embark on innovative approaches to business designs, application of sharply focus technology among others.

Impact of ASEAN-Korea FTA on Poverty: The case study of Laos

Description
 
The objective of this paper is to attempt to quantify the impact of ASEAN-Korea FTA (AKFTA) on national economy-wide impact and poverty. The study uses a standard Global Trade Analysis Project (GTAP) model for this analysis. The simulation results show that Laos will gain from accession to the AKFTA. The real GDP and welfare will increase, while trade deficit will increase and output in some sectors will be reduced. In addition, income of unskilled labor will increase. Therefore, AKF will increase growth and also improve income distribution for Laos.

An Investigation on the Relationship Between Human Resources Strategies Towards Employee Innovation

Description
 
To present a comprehensive literature review of the relationship between human resources strategies towards employee innovation. For this research the main objective is to identify which factor of human resource strategies effect the employee innovation and also evaluate the employee performance towards employee innovation, A structure study has been made to understand the situation . Through the investigation been made in the organization the researcher will determine the main factor of strategies in the human resource towards employee innovation, Most of the feedback perceived that the employee innovation is important in the organization. By having the innovate employee the organization can be more effective and efficient in carrying their vision and mission. Also the innovation is new ways of achieving the successful of the organization. Thus, this study is to investigate and help organization to face the challence in the borderless and competitive environment.

Government Spending, Intrinsic Motivation And Fertility

Description
 
Naturally, the decision of having a certain number of children is a family matter. However, regardless of the factors that would affect the decision, if happened that all parents in the country, decided to have children below the replacement level, then this become a national matter. We examine the impact of government spending on child cash allowances and spending on child care and early education in order to promote fertility. We consider an overlapping generation model with endogenous fertility and human capital formation with Total Intrinsic Motivation. The results show that in addition to the effect of government spending on child care and early education, the Total Intrinsic Motivation also plays an important role to promote fertility decision. On the other hand, child cash allowances are ineffective in promoting fertility.

Determinants of Livestock Holders’ Adaptive Capacity to Climate Change in Gandaki River Basin, Nepal

Description
 
A study was focused to assess the determinants of livestock holders’ adaptive capacity to climate change using logistic regression model based in four agro ecological regions of Gandaki River Basin, Nepal. Altogether 240 households, 60 from each agro ecological zone, were selected using stratified random sampling. Primary data were collected by household survey using semi-structured and pre tested questionnaire. A majority of respondents observed the deviation in weather parameters. Nearly half of livestock keepers adapted different adaptation measures that comprised integrated farming, adopted change in herd size and composition, depended on veterinary and livestock services, improved feeding practices institutional arrangement, and weather warning and water harvest technology. Lack of climate information, lack of labor, money, and lack of market access were the major barriers to adaptation. Farming experience, education, training, saving, access to credit, access to road and market, cool temperate, climate information, exposed to extremities, member organization had significant and positive impact on adaptation decision. The awareness creating activities, like education, training, and creation of off farm employment is recommended to strengthen the adaptive capacity of livestock holders.

Does Risk Management affect on Bank Efficiency? An Analysis of Sri Lankan Banking Sector

Description
 
Increasing competition in the finance sector in Sri Lank has created a huge competition among the banking sector. The high level of competition improved the bank efficiency and efficiency creates risk to the banks. Therefore, risk management is a vital in achieving efficiency. Therefore, this study addresses the question on “whether the Sri Lankan banks are efficient and how risk management improves the banks’ efficiency?. The main objective of the study was to identify the efficiency of the banks by incorporating risk factors.This study adopted second Stage Data Envelopment Analysis based on Licensed Domestic Commercial Banks in Sri Lanka for the period from 2005 to 2011. At the first stage it use DEA to finds the efficiency scores by incorporating risk factors such as Credit, Market and Operational risk. In the second stage it applies Tobit regression to find the influence of external environment factors on bank efficiency.The mean efficiency of Sri Lankan banks is high when it compares with the other well countries such as India, UK, US, Taiwan and Islamic Banks located in London. Risk management has improved the efficiency of the Licensed Commercial Banks in Sri Lanka. Therefore, banks should identify their standing on the market on efficiency levels and should analyze their inefficiencies to improve the efficiencies further.

Measuring Training Effectiveness: Evidence from Malaysia

Description
 
Global issues have emphasized the importance of training effectiveness as the essence of developing and managing quality human resources. Hence, to reinforce the management and implementation of national public policy for Malaysia, an easier way of measuring training effectiveness should be determined. Unfortunately, the information of psychometric properties for general instrument to measure training effectiveness was limited. Therefore, the objective of this article is to discuss research findings on constructing a valid and reliable instrument to measure training effectiveness or the development of General Training Effectiveness Scale (GTES). Research was done through three studies including jury validation, pilot study, and actual study*. The development of GTES’s psychometric properties have included face validity, content validity, and constructs validity (including convergent, discriminant and nomological validity), as well as reliability and construct reliability. Data was analysed using reliability analysis, confirmatory factor analysis (CFA), and structural equation modelling (SEM) through SPSS and AMOS software. Significantly, the GTES as produced in this research can be used as an instrument to measure the effectiveness of training in private and public sector. Subsequently, this effort will support the improvement of quality human resources in public sector for effective national policies implementation.

Happiness and Students’ Performance in Quantitative Subjects-A Preliminary Study

Description
 
This preliminary study examines undergraduates’ perceptions of happiness and quantitative subjects, as well as the relationship between the two. University students tend to be happier when they are satisfied with their studies, have good relationships with family and friends, possess good time management, active in extra-curricular activities, have good balance between work and play and are in good health. Despite the perceived difficulty, most students do not find quantitative courses as boring and tend to develop interest in those subjects depending on the teaching styles of their course instructors. While correlation analysis gave expected results on students’ insights, the regression estimates reveal a negative relationship between happiness and achievements in quantitative subjects.

Information Asymmetry And Lending Equilibrium in Nigeria: A Game-Theoretic Analysis of Bank-Borrower Relationship

Description
 
The use of game theory to characterise strategic relationships have gained prominence in most fields of economics. However, the application to contractual lending relationships in financial markets has been lacking. In view of the presence of information asymmetry in financial markets, this study is an attempt to characterise the nature of equilibrium that exists in Nigerian financial market, using data from 210 loans made within the last one decade among 18 commercial banks. The study joins in the debate initiated by Sharpe (1990), Fischer (1990) and von-Thadden (2001), and posits that bank-borrower lending relationship has short-run pure strategy equilibrium.

The Relationship between Servant Leadership and Organizational Commitment: The Malaysian Perspectives

Description
 
This paper examines the relationship between servant leadership and employees’ organizational commitment in a Malaysian situation and adding trust in leader as the mediator. The first objective of the study is to explore the relationship between servant leadership and organizational commitment of working adults in Malaysia. Second objective is to determine whether trust in leader mediate the relationship between servant leadership and organizational commitment among these working adults. There are 200 set of questionnaires were randomly distributed to the employees working with various organizations throughout Malaysia. Out of them, 143 were usable yielded a response rate of 71.5%. Data collected were analysed through correlational analysis and multiple regression analysis using SPSS version 20. The result of the study revealed that servant leadership has significant relationship with employees’ organizational commitment. In addition, trusts in leader do mediate the relationship between servant leadership and organizational commitment among working adults in Malaysia. This research therefore, highlighted the importance of having the right leadership in fostering employees’ positive job behaviour. The limitation and direction for future research also discussed.

Budget deficit and Real exchange rate: Further Evidence from cointegration and causality test for in the Lao PDR

Description
 
Laos is resource booms economy and might be affected by the Dutch disease. One of important factors for appreciation of real exchange rate is increasing government spending from resources sector. However, the relationship between government spending and real exchange rate appreciation is not clear. Therefore, the purpose of this paper is to investigate the dynamic relation between budget deficit, and the real exchange rate in the Lao PDR from 1980 to 2010. The empirical analysis applies ARDL Cointegration methodology in conjunction with the VAR as well as the structural VAR (SVAR) analysis to provide evidence for both the long and short run dynamics between the variables. We found that there is no long run relationship between budget deficit and real exchange rate in the case of Laos. In addition, we also found that there is no Granger causality between budget deficit and real exchange rate in Laos.

The Enhancement of Micro Small Enterprises Capacity and Local Economy through Socio Economic Institution Networking:Study in East Java Tourism Area

Description
 
Tourism sector is one of the driving sectors of economic growth for some regions in East Java, especially in Batu City and Malang Regency. The objective of the research is to identify social economy institution in an attempt to enhance local society’s economy in tourism areas in East Java. The research area covers Jatim Park tourism area in Batu City and Balekambang Coastal Resort in Malang Regency. Using an action research as the research methodology, the respondents are classified into the micro small business agents, the tourist, and the manager of tourism area.The research finding shows that 1) the Small Middle Enterprises (SMEs) on Jatim Park Tourism Area and Balekambang Beach are still dominated by local citizens; this means that tourism object can provide employment and income for the locals, 2) the tourists are still dominated by local tourist and those from other cities in East Java, and 3) the manager of tourism area keep on improving the management of the tourism objects in order to attract the tourist visits. In other side, the accessibility of capitalization as the measurement of economic capacity shows that there are a lot of SME agents who have not been able to get the access to capitalization from the banks, especially those in Balekambang tourism resort unlike most of SMEs agents in Jatim Park who have succeeded in getting capitalization access from the banks. Meanwhile, the trades associations in the tourism area have developed and given a lot of advantages to its members, so that it supports the local economy institution.

Knowledge Management and Organizational Learning in Food Manufacturing Industry

Description
 
The main purpose of the study is to establish the relationship of knowledge management and organizational learning in food industries. The conceptual framework proposed in current research is to creative model that contributed relevant theories of knowledge management, organizational learning, and relationship between it. Some literature will be studied and we will try to justify the organizational theories in food industry. Total of 168 companies in food industry were selected from Taiwan, China, and Malaysia and structural equation modelling (SEM) is applied to test the hypotheses in the research model. Three dimensions include knowledge acquisition, knowledge conversation, and knowledge applications are applied for knowledge management processes. Four main dimensions will be discussed which are management commitment, system perspective, openness and experimentation, and knowledge transfer and integration as definition of organizational learning. The research model includes two constructs including knowledge management & organizational learning and two measurement variables include firm age and firm size. The results showed that, knowledge management and organizational learning have significant positive relationship. Moreover, firm age and firm size are moderators between two constructs in the research model.

Human Capital Management Initiatives and Organizational Sustainability: Case Study in a Selected Medium-sized Manufacturing Enterprise

Description
 
The presence of MEs has proven to strengthen the Indonesian economic stability. They are important for several reasons: their contributions to the national production, the total units of enterprises, and the creation of employment. Despite the fact that MEs are very potential for building a stable economic growth, developing MEs is a challenging issue. The most critical problem in today’s Indonesian MEs lies on Human Capital related issues. The study aims to explore the current Human Capital Management (HCM) initiatives and how it affect the sustainability of the organization. More specific, the study aims to describe the HCM policies, programs, and practices being employed by medium-sized manufacturing enterprises, and what factors act as enablers that motivate human capital to undertake the current HCM policies, programs, and practices. By using case study approach, preliminary prepositions are developed.

The Impact of Local Government Expenditure Efficiency on Economics and Poverty Growth of East Java Province (Study of Educational Expenditure, Health and Infrastructure)

Description
 
The research aims to test the influence of East Java Propince Budget on growth and poverty. Beside of this, the results of this study will not only estimate the efficiency of the management of the local government on budget, but estimate also how big the effects in increasing the efficiency of spending to society welfare in East Java Province. In this study, the Stochastic Frontier Analysis (SFA) are used as estimation method to the efficiency level for strategy sectors, as education, health, and infrastructure. Then, the Three Stage Least Square (3SLS) are used for estimating how far the effects in increasing the efficiency of spending on society welfare are. Based on the analysis results, for the said three sectors, efficiency action on health sector budget is better than education and infrastructure sector. For those, it shows us the different difficultly level for local government to manage each sector of budget. Education sector is the most complicate in comparison with health and infrastructure sector. However, budget efficiency on education, health and infrastructure sector do not always give positive impact on the society welfare level.

Sector Rotation Investment Strategy in Indonesia Stock Exchange

Description
 
This study examines whether sector rotation investment strategy can generate superior return. In certain economic condition, one sector can perform better than the other sector. Principle of this investment strategy is investing in sectors that perform better than the other. Performance of one sector has strong correlation with economic condition and we use business cycle to describe the economic condition. We examined performance of every sector over business cycle from 2001-2012. We divide the phase of business cycle to three periods: early expansion, late expansion, and recession. The phases identified from macroeconomic analysis. Macroeconomic indicator that used to to identify the business cycle are global GDP, Indonesia GDP, and inflation rate in Indonesia. Interestingly, we found that global GDP has larger impact to Indonesia capital market than Indonesia GDP itself, so we use the global GDP as main source to identify business cycle in Indonesia. Every business cycle phase has different duration, depend on the change on economic condition. We build a portfolio simulation that implement the sector rotation investment strategy after choose the best sector in every business cycle phase. We select the most liquid and largest capitalization stock from LQ 45 Index. Return generated from implementing the strategy is higher than return of Jakarta Composite Index. We conclude that, sector rotation investment strategy is an optimal strategy that can be applied by investors to generate superior return in Indonesia Stock Exchage.

An Adaptive Structuration Theory towards Price Transmission along Rice Value Chain

Description
 
Rice is staple food for Indonesian people, thus the availability of rice is important. Indonesia Government has responsibility in controlling domestic rice supply and stability of rice price respectively. The instability of rice price is mainly due to the price transmission process in actors’ interaction along rice supply chain. The price transmission process in actors’ interaction will be of important factors since it often to be unfair, even though it managed by the government’s regulation. It has been argued that Indonesia rice market is imperfect and inefficient with intermediaries frequently accused of reaping excessive and unjustified profits. Thus, the most critical problem in price transmission and determination phenomena lays on unbalance price transmission information due to bargaining and competitive process among rice actors on rice value chains.This study attempts to develop a conceptual research by an adopting adaptive structuration theory to explain the dynamic network relationships and; to describe and analyze their interaction (behavior) in decision-making process of price transmission among actors in rice value chain. This study aims to get better understanding on issues regarding structuring among rice actors (action-structures) in social practices, which is changing over time. These conditions are critical to be analyzed in order to understand in what way price are transmitted and determined so that behavior can or cannot be predicted.The output of this research is a conceptual research about how adaptive structuration theory approach can shed light on price transmission along rice value chain through multiple case studies. The Context Mechanism Ouput (CMO) are proposed to describe and examine the phenomena occurs on price transmission. Further, this research will be of important to become an input to formulate propositions. By capturing these processes and tracing their impacts, the complexity of price transmission can reveal. Moreover, the conceptual research provides exploring different views and tools to analyze of how the functioning of rice value chain can be studied using structuration theory, a research approach derived from sociology that has become well established in the study of value chain, will be contributed to that understanding. The use of institutional framework can be seen as the structures that also provide actors with rules and resources and facilitate agency to actors to get better understanding of rice stock fluctuation. This research is the first to propose a framework of integrating the use of value chains, institutional economics and agency economic theory with structuration theory in Indonesia rice domestic market, which are able to explain the dynamic network relationship, describe and analyze their behavior in determining price transmission from producer to consumers.

Happiness and its Influencing Factors among Paddy Farmers in Granary Area of MADA

Description
 
The study aims to study the factors associated with the level of happiness among paddy farmer’s household in the granary area of Kedah. The study used quantitative research technique by using interview questionnaire to obtain data at the household level. Structural Equation Modeling (SEM) used to analyze the factors affecting happiness of the paddy farmers statistically. The study found that the institution factor is the most significant factor contributing to happiness of paddy farmer’s household with the coefficient value of 0.36. The finding shows that the role played by MADA, particularly in terms of advisory assistance to farmers have succeeded to improve happiness of farmers in the area. The management of leisure time, ownership of financial assets and human assets also positively significant influencing the happiness of paddy farmers. In addition the environment factors such as pollution, land degradation and waste disposal also significant influencing happiness of paddy farmers negatively. Finding also suggests that farm management factor indicated by variables such as effective use of machinery, pest control and weed control are not able to increase the happiness of paddy farmers. This situation clearly shows that the increase in cultivation technology with the usage of mechanization in every production process and harvesting is not able to increase the happiness of paddy farmers especially the poor. Thus, active involvement from related institution, strengthening the financial and human assets, as well as the introduction of technology that is more acceptable to the farmers, seen are the best way to raise the level of happiness among the paddy farmers.

Post Asian Crisis Experience on Bank Efficiency and Competition

Description
 
The transformation in Asian banking came with the aim to recover and improve the banking system performance and soundness. The structural changes in SEA has improved the region banking industry performances and brought significant effects through the regulatory changes as it spur a trend towards consolidation, resulting in the recent wave of mergers and acquisitions. This study investigates the impact of post crisis (1997 – 2005) banking reform on competition and performance of the banking system. Competition level is assessed by employing Panzar and Rosse methodology, while the efficiency is evaluated using Data Envelopment Analysis (DEA) that adjusted to allow slack or surpluses due to the environment variables. Our analysis shows that the region has successfully transformed the banking sectors as the efficiency indicates score displays positive changes. However the relation between efficiency and competition may not be a straightforward impact.

Rural Savings Mobilization Among Women: A Pancea For Poverty Reduction

Description
 
Poverty alleviation among rural dwellers has remained a major challenge for both the developing world. This has become very relevant for the nations growth and development given the fact that majority of the poor reside in the rural areas and they are mostly women. Efforts to alleviate poverty in the rural areas have not yielded the expected results. This study therefore considered the effects of savings mobilization among women on poverty alleviation. This study, conducted in Oriade Local Government Area of Osun State., Nigeria, examined the effects of rural savings in major macro economic variables and poverty indices in the study area. Primary data was collected through the use of well structured questionnaire administered on two hundred randomly selected respondents. Data was also sourced from relevant text books and learned journals. Data was analysed with the aid of descriptive statics such as tables, percentages and frequency distributions. The major quantitative method used was the binary logistic regression model. Results showed that majority of the respondent are still in their economically active years and majority were educated. Also most the respondent invested savings in non-agricultural business. However, the propensity was low as about 60% of respondent did not invest mobilized savings. The logic model showed that rural savings have positive effects on the poverty indices indentified in the area. Such effects were mostly significant on variables such as nature of house, cooking method, health care facilities and income. Study also showed that 83% used the proceeds from investment to purchase assets such as land, vehicles and household electronics like radio and television. It is the submission of this study that rural savings is an indispensable means of alleviating in the study area. Hence, more women should be encouraged to save as much as possible and that such should be invested in productive ventures rather than in present consumption.

Health Sector Development in Nigeria: The Implications of the changing gears between Demographic and Epidemiological Transitions

Description
 
This study examines the developments in the Nigerian health sector over the last five years, using monthly morbidity statistics of patients in General, State Specialist and University College Hospitals of 3 states across two geographical regions of the country. The developments in the health sector were divided by changes in demographic and epidemiological characteristics. Using records of 89071 patients, the results observed the dominance of demographic transition in the health care development. The impacts on the health outcome of reductions in the prevalence of preventable and communicable diseases were observed to be far below the degenerations arising from changes in the population composition. Infant and children under 5 years’ morbidity rate were observed to decrease from 26.61% and 35.86% in 2008 to 23.75% and 27.35% in 2012. But these decreases were superseded by the drastic rise in the morbidity incidence among the aged (65 years and above) which more than tripled over the period. The study suggests that rapid health sector development would be more achieved by focusing on preventive as well as on demographic control.

The Interest Rate Algebra

Description
 
This article considers the structure of interest rate, applied for discounting of risky cash flows. Thepurpose of the article is a presentation of ways of reflecting inflation and risks in the calculation of riskdiscount rate. In introduction on base of well-known dependences is shown that risk premium dependson inflation rate and (for multiplicative-type models) risk free rate. In the first part of the article threeInterest rate algebras are presented. They describe the attitude between nominal discount rate, risk freerate, inflation rate and risk-premium. This algebras can presents in additive-type or multiplicative-typeversions and have given risk premium value without detailed description the structure of riskpremium. The second part of the paper has more detailed attitude between risk premium, risk free rateand mathematical expectation of losses because of bankruptcy/default. It is shown that the obtaineddependences are slightly different and depends on the initial preconditions calculation: the principle ofarbitration or the principle of certainly equivalent.

Hospital at Home: Sustainable Healthcare in Developing Countries Through Reducing Average Length of Stay in Hospitals

Description
 
Increasing health costs is becoming a burden for countries all over the world, and for the developing countries, it may reach a point where the government may not be able to provide the healthcare demanded by the public. It is not solely based on increasing the health spending; every aspect of health expenditure should be considered to improve efficiency. One of the aims of the tenth Malaysian plan is improving efficiency and reducing waste (The Economic Planning Unit, Prime Minister’s Department 2010). We propose a measure to improve efficiency by decreasing the average length of stay, given the fact that hospital care is far more expensive than care in the community. Planned and managed early discharge to the homes, supported by community nurses and doctors, in addition to improved communications, can reduce average length of stay. At present the length of stay is 3.52 days in the public sector and 2.71 days in the private sector. There is a significant variation between states, not only for the average length of stay, but also for the bed turnover interval; providing less of an incentive for earlier discharge (CRC 2012). By reducing the length of stay by merely 0.5 days, we suggest that there would be savings of up to RM250 million each year, and with other additional measures, there would be significant savings, making healthcare more affordable and sustainable, making Malaysia a shining example among developing countries.

FDI in Indian Retail Sector: Strategic Issues and Implications

Description
 
The spectacular and unprecedented growth of FDI in the global economic landscape over the last two decades has made it an integral part of the development strategy of both the developed and developing nations. It acts as major catalyst in the development of a country through up-gradation of technology, managerial skills and capabilities in various sectors. Indian retail industry is one of the sunrise sectors with huge growth potential. According to the Investment Commission of India, the retail sector is expected to grow almost three times its current levels to $660 billion by 2015. However, in spite of the recent developments in retail sector and its immense contribution to the economy, it continues to be the least evolved industries in India when compared to the rest of the world. This dismal situation of the retail sector despite the ongoing wave of incessant liberalization and globalization stems from the absence of an FDI encouraging policy in the Indian retail sector. Until 2011, Indian government denied FDI in multi-brand retail, forbidding foreign groups from any retail outlets. In November 2011, India’s central government announced retail reforms. FDI in the retail can expand markets by reducing transaction and transformation costs of business through adoption of advanced supply chain and benefit consumers and suppliers. Oppositions have raised concerns about employment losses, promotion of unhealthy competition among organized domestic retailers resulting in exist of small domestic retailers from the market and distortion of urban cultural development. This paper captures the existing retail scenario in India and presents the limitations of the current set-up. The paper discusses about opening up of the retail sector to FDI by the government and tracks the efforts taken by the government with regard to foreign direct investment in retail sector. The paper also analyzes the reason why foreign retailers are interested in India, the strategies they are adopting to enter India and their prospects in India. The present paper also focuses on the strategic issues and implications of FDI retail in India and the major challenges that it faces.

How to use Cobit Applications in Educational Institutes

Description
 
Decision makers are looking at all expenditures to see where to cut costs and install greater IT systems management efficiencies. For implementation of an IT governance program successfully, it is important to understand management needs. IT service management is becoming more important in any kind of business sector including in heigher education sector or university education. In the unversity education system, it can be used to enhance competitiveness and performance of related stackholders. IT infrastructure is growing increasingly complex as diferent technological advancements, such as IT governance (by some special methodologies like Control Objectives for Information and Related Technology (CoBIT) & Information Technology Infrastructure Library (ITIL) etc) and cloud computing, continue to enhance higher education networks. These systems management solutions can be very helpful to facilitate greater collaboration in learning and educational management. In this study we investigated the problems of the Atilim University students ‘n Turkey about the course control system (Focusing on Time-Table scheduling system). In the survey we asked questions about registration process, time table managements, exam time clashes, course loads, student satisfaction about the time table and exam allocation system. The results are gathered, analyzed and documented and the results are discussed. Depending on the results we proposed a CoBIT metodology to improve the student satisfaction.

An Appraisal of the Strategies of Rural Poverty Alleviation in Nigeria: Implications for Rural Development

Description
 
The description of poverty varies over time and clime. However, evry society recognizes and describes it in relation to its socio-economic circumstances. As a universally recognized social problem, poverty has attracted many action packages across the globe. Nigeria, like many other countries, has enunciated and indeed, operated several policies aimed either directly or indirectly at eradicating or reducing poverty to its lowest level. Poverty alleviation strategies in Nigeria span various spheres in the economy. However, the strategies aimed at mitigating rural poverty have been most prominent in Nigeria. Recognizing that the root of poverty is in the soil of the economy, most of the rural poverty alleviation strategies were aimed at improving the economy, especially in the area of agricultural production in the rural areas. This paper critically evaluates the rural poverty alleviation strategies in Nigeria for the past two decades (1992-2012) alongside the objectives, performances and problems of these strategies. The paper also suggests pithy ways of avoiding noticeable pitfalls in these strategies.

Transformational Leadership Behaviour and its Relationship with Leadership Outcomes in A Higher Learning Institution

Description
 
The great impacts of globalization, technology advancements and competitive environment have forces higher learning institutions to adapt to strategic change so that they could remain relevant and competitive advantages. Hence, the need effective leadership behavior has become more critical than ever. Previous studies showed that transformational leaders’ support is seemed to be an essential factor in promoting effective organization. However, to what extend this is true in especially in the local public universities. Therefore, this study was intended to examine the relationship between transformational leadership behavior and leadership outcome among the academics in a Malaysian higher educational institution. Using a stage cluster sampling, a total of 169 academic staff from Universiti Teknologi MARA participated in the study. The result revealed the academic staff perceived that their superiors exhibited a transactional leadership style rather than transformational leadership style. There was a positive and moderate relationship between transformational leadership and leadership outcomes. The implications of the study were discussed in this paper.

Profitability of Investment in Government-Sponsored Unit Trust Funds (Asb Unit Trust Fund) Through Term Loan Facility: A Backtesting Approach

Description
 
This study aims to determine the profitability of investment in government-sponsored unit trust funds specifically in Amanah Saham Bumiputera (ASB) unit trust fund through term loan facility. Barring the ability to foresee the future, the best option to study the return of investment is to examine based on the unit trust track record. Using backtesting technique, a series of historical data was analyzed to determine its profit or lost over the period of time. For this purpose, historical data of Base Lending Rate (BLR), Income Distribution Rate (IDR) and Annual Bonus Rate (ABR) were gathered for a 20 years period, which is from January 1993 until December 2012. In this study, the return of investment was analyzed for a loan principal of RM205,000.00 of which RM200,000.00 was for the initial investment and the balance RM5,000.00 was for insurance purposes. The loan tenure considered was set at 20 years. Monthly installment was set at a minimum of RM1,350.00. For the first year of inception, the monthly installment will be self funded. While for the rest of the tenure, the monthly installment will be borne by yearly income distribution made available from the initial investment. Any excess from yearly income distribution after deduction of monthly installment will be reinvested to generate accumulated cash profit. At the end of the loan tenure, even by consistent monthly installment repayment there was still RM50,218.42 short towards full repayment of loan principal. However, there was an accumulated cash profit of RM219,053.37. Using the accumulated cash profit to reconcile the remaining outstanding amount, a positive accumulated net cash profit of RM168,834.95 was achieved. The total of the accumulated net cash profit inclusive of the initial investment after 20 years period is at RM368,834.95. Given the accumulated monthly installment during the first year totaled RM16,200.00, the final return of investment is RM352,634.95. This study concluded that investment in government-sponsored unit trust funds specifically in ASB unit trust fund, through term loan facility or leverage, an increase of 16.65% per annum can be realized on the profitably of wealth.

Financial Development and the Economies of Sub-Sahara Africa:A Cointegration and Causality Approach

Description
 
This paper is an attempt to examine the impact of financial development on the economic growth of sub Saharan Africa. Three representative countries namely Nigeria, Ghana and South Africa were chosen. Three models were constructed for each country. The GDP proxied economic growth while four regressors were developed as proxies for financial development. Data was generated from the World Bank, IMF and Central Banks of the sample countries for the period 1980-2012. The Augmented Dicker Fuller test was employed to test for stationarity of the data and the Ordinary Least Squuare (OLS) procedure, Cointegration and Causality tests were adopted to test the hypothesis that there is no signficant relationship between financial development and the economies of the sample countries selected for the study.The results of the study confirmed that a significant positive relationship exists between financial development and economic growth of the three Sub-Saharan countries under study. Remarkably, the proxies of Financial development exerted significant effect on the economic growth of South Africa but significantly weak in Ghana and Nigeria. Curiously, Bank Credit to the public and private sectors of the three economies had the wrong signs highliting the high risks associated with lending in the developing economies which also agrees with the poor performance of these countries in the World Economic Forum’s Financial Development Index (FDI) Fifth Pillar –Access. Indeed, the poor performance of this variable counteracts the belief that the presence of financial services as reflected by it’s size and depth does guarantee accessibility by different types of users within an economy. Some of the lessons learnt so far from the global meltdown include the fact that without an efficient financial system and market, no economy can function. Consequently, economies of the sub-saharan African countries in order to grow, must concentrate on reforms and policy reviews, interest rate management and improvement of financial services and markets with a view to removing all barriers towards access to financial services and markets within the economy.

Trends in E-Governments: From E-Govt to M-Govt

Description
 
New technological advancement and availability in mobile devices, technology, applications and networks have made it possible for a common citizens to access information and transact services while on the move. This gives an opportunity for governments to provide such services to citizens at the minimum cost. E-government practice and routine in public sectors are being supplemented, and moving towards to m-governement (mobile government). M-Government can be defined as the massive usage of mobile devices with their applications to develope a quick connection and response between citizen and public sector authorities. M-government is a support of improving the quality, time saving and usability of e-government applications around the clock from any location.The existing technological foundations, applications and services support the idea that m-government will be a significant part of e-government efforts. The policy makers and IT. Professionals need get ready to embrace these developments and participate in the ways to enhance e-government activities through m-government. This transformational process is going on around the world. This article will investigate where governmental organizations are becomming mobil government organization to quickely reach to their citizens and increasing communication with them beyound the limits.

Relation between Economic Growth and Distribution of Income per Capita and Human Development Index Among Five Major Islands and Provinces in Sulawesi Island, Indonesia

Description
 
This study aims to analyze interrelated between economic growth, income distribution, Gini ratio, income per capita, and poverty and unemployment rate at six provinces in Sulawesi Island and five major Islands in Indonesia. Interrelation of these variables analyzed using Simon Kuznets’s theory. According to Kuznets beginning of development, high economic growth will be followed highly income disparity. Series of data from report of Indonesian Statistical Bureau from 1996-2012 and other official data of provincial government were used. This study classified four types of quadrant, namely: quadrant I explains the island in Indonesia and provinces in Sulawesi island that has high economic growth as well as high income disparity; quadrant II illustrated the island and provinces that has low economic growth and high income disparity; quadrant III show the island and provinces that has low economic growth and low income disparity; and quadrant IV explain the island and provinces in Sulawesi that has high economic growth and low income disparity. The study result indicate only two islands categorized as high economic growth, one is pro-poor and the other island is less pro-poor. The development in Sulawesi result high economic growth in three provinces, however only one province can be categorized as pro-poor and pro-job.

Measuring the Regional Variations in Educational Attainment and Inequality in Nigeria

Description
 
This article measures educational inequality between northern and southern regions in Nigeria and compare it with the educational distribution within regions using Theil index and decomposition analysis. The main finding of the article is that disparity in access to education within regions rather than between North and southern regions is the major cause of educational inequality in Nigeria. The result also shows that educational attainment and inequality are negatively related. Educational inequality is higher in the north than in the south as 17 out of 19 states of northern Nigeria have higher Theil index than the national Theil index.

Business Model Innovation in Music Industry: A Literature Review

Description
 
Records sale in music industry is facing a decline in many countries. Actors in this industry from developed and developing countries often innovate some business models to survive. The innovation was conducted by finding new actors and their role, finding a new revenue stream, and finding a new marketing and distribution strategy. They are increasing their focus in business model innovation because of its value creation, value captures potential and also become other option or as an addition to process or product innovation. Many literature reviews has been conducted in terms of business model innovation research in the music industry. However, less review conducted in a structured method. This paper provides structured method of literature review in 4 steps; selection of time horizon and database, paper selection, paper classification, and pattern analysis after classification of articles. The literature review is aim at observing the state of the art and finding the research gap also research position of business model innovation research in music industry. Obtaining further research opportunity also becomes the purpose of this research.

Moderating Effects of Supervisory Support between Work-Family Demands and Life Satisfaction among Malaysian Female Academicians

Description
 
The present study was conducted to examine the relationship between work-family demands and employee life satisfaction, as well as the role of supervisory support in moderating work-family demands and life satisfaction. The researchers used 300 female academic staff as respondents, working in the Research Universities of - Kuala Lumpur, Malaysia. Their ages ranged from 30 to 60 years. Findings show that the effect of work-family demands on life satisfaction is significant for female employees that the supervisory support of employees has an effect in the increase of life satisfaction of employees. Moreover, the hypothesis was proved as the supervisory support was found to moderate the relationship between work-family demands and life satisfaction.

The Causality between Salary Structures and Team Performance in Korean Professional Baseball League

Description
 
Using the salary payment data from Korean Professional Baseball League (KPBL), this paper conducts Panel Granger tests to investigate the causality between pay and performance. Our empirical results show that the causality only runs from the dispersion of salary payment to team performance, but not vice versa. Moreover, the evidence also shows that total salary does not cause team performance, and vice versa. Therefore, payrolls cannot buy wins, and wins cannot bring payrolls in the KPBL.

Patterns and Trust Formed on the Partnership Contract between Sugar Factory and Cane Farmers

Description
 
Partnership between Kebon Agung Sugar Factory and cane farmers started since Kebon Agung Sugar Factory experienced shortages of raw materials and sugar mill process under its capacity. On the other hand, cane farmers do not have market certainty and further process is needed to make sugar cane more valuable. The purposes of this research are to examine pattern applied on partnership contract between Kebon Agung Sugar Factory and cane farmers, as well as to examine trust formed between Kebon Agung Sugar Factory and cane farmers. Analysis used in this research is qualitative analysis using symbolic interaction approach. The result shows that pattern used by Kebon Agung Sugar Factory and cane farmers is core-plasma pattern. According to the findings, Kebon Agung Sugar Factory act as “core” that has obligations to give various incentives and monitoring such as loans, means of production, counseling and assistance. Furthermore, “plasma”, that is farmers, cultivate their fields as directed by and hand it to the sugar factory or the “core” based on agreement made before.. Creating an ideal partnership contract is not only levied to farmers and factory, government’s role is also needed. Therefore, government’s intervention in making policies, strengthen the institution in local level to achieve ideal partnership contract is very crucial.

Do Oil And Non-Oil Balance of Trade Impact Similarly on Malaysia and Nigeria GDP?

Description
 
Despite the fact that there is a close link between GDP and the balance of trade, limited studies focussed on the oil and non-oil dichotomised effects of net exports or balance of trade on the GDP. This study therefore, painstakingly investigates specifically the impact of oil and non-oil balance of trade on Malaysia and Nigeria GDP. Data were collected for period 1971-2010 and regression equations defining oil, non-oil and total balance of trade as independent variables and GDP as dependent variable is employed to analyse data. Augmented Dickey-Fuller Tests equation was employed to perform unit root tests for stationary and cointegration tests. From the analysis, oil, nonoil and total balance of trade contributes immensely to the Malaysia GDP. Contrary, only the oil and total balance of trade impact positively on the Nigeria GDP. The Nigeria non-oil balance of trade on the whole has performed below expectation thereby impacting adversely on the Nigeria GDP. Though Nigeria total balance of trade show better results, sectoral impact of the non-oil sector is much more significant a determinant of the quality of a country’s GDP. This study therefore recommends that Nigeria should enhance her export promotion strategies and diversify her economy far away from crude oil.

Does Total Quality Management Affect the Performance of Small and Medium Enterprises? A Case of Manufacturing SMEs in Ghana

Description
 
The paper examines the relationship between total quality management (TQM) practices of small and medium enterprises (SMEs) and the performance and profitability of these businesses in Ghana. With the use of a mixed research method consisting of descriptive and inferential statistics the researchers found that differences exist between SMEs in relation to managerial education level, TQM awareness, managerial commitment to TQM principles of continuous improvement, use of new technology, putting the customer first, effective supervision and enforcement of quality practices. The study also shows a statistically significant association between the implementation of TQM and the SMEs’ financial and organisational performance. The implication of the findings is that the government of Ghana should pursue policies aimed at encouraging training and improving the managerial skills of SME owner/managers as well as creating the enabling environment for the development of improved modern technologies to transform the business processes of these vital industries. The Ghana Standards Board must also sit up and enforce quality regimes to ensure goods and services produced meet international standards.

An Architecture for Personal Achievement Evaluation System in an University by Applying Open Source ECM and BI Software

Description
 
Personal achievement evaluation process is necessary to understand each employee’s abilities, competencies, and relative merits which are very important for an organization. The results of evaluation process are analyzed between achievement targets and actual achievement scores, which are collected and stored from many data sources and documents such as evaluation patterns, groups of person, and kinds of workload. Furthermore, for each evaluation period, flexible policies and procedures are needed. This study presents an architecture for personal achievement evaluation system in a university by using an open source ECM software tool for managing their links of the supporting document with actual data, and BI technology is used to inspect, evaluate, and create personal achievement reports by applying open source software principles to be able to gather all data and store the supporting documents into an evaluation database. XML schema is a dynamic mechanism for managing constant change. We propose a formulate principle and an implementation procedure which is expected to be able to apply with other university’s departments to support their personal achievement evaluation process.

Unethical Marketing Practices of Pharmaceutical Companies in Pakistan: A Case Study of Sukkur Division

Description
 
Pakistani pharmaceutical industry is synchronized by various legal perspectives to make certain the health of people of Pakistan but unfortunately rising population, inflation and people’s wish to have money to burn leads to unethical practices so as in Pharmaceutical companies of Pakistan. Keeping in view the rising trend of unethical drug promotional activities in Pharmaceutical industry, a prior study was conducted by us in Sukkur city only but to improve our study we extended the sample to Sukkur division with the purpose to explore various unethical marketing practices in pharmaceutical companies of Sukkur division covering Sukkur, Khairpur, Pano Aaqil, Rohri cities . It is a crucial area to be investigated in marketing field. Predominantly, considering negative aspects of unethical drug promotional activities that could harm the public health this research is constructive and beneficial not only for the common public and researchers but for the government so that they can regulate more rules and laws on pharmaceutical industry. Data was collected from various medical professionals’ i.e. physicians and consultants, medical representatives, management of pharmaceutical companies’ local as well as multinational pharmaceutical companies residing in Sukkur. A well administrated questionnaire was designed to test the validity of questionnaire a pilot study was done where a sample was split into two halves and alpha of 0.86 and 0.78 of respectively proves the validity of questionnaire. 890 questionnaires were distributed through probability sampling technique in different areas of Sukkur division. We have used F-test, t-test and z-test to test three different hypotheses. Study found various unethical marketing practices in pharmaceutical companies like gifts, sponsorships, incentives schemes based on sales per product etc. Further it was proved that pharmaceutical companies initiate unethical marketing activities and health specialists/doctors accept these gifts and help companies to continue unethical marketing activities in Sukkur division.

Investors’ Behavioral Biases and the Stock Market Development: An Empirical Study of the Pakistani Stock Market

Description
 
The objective of this study is to investigate the relationship between human biases and stock market development of Pakistan. I have used primary data analysis; data was gathered through well administrated questionnaire which consists of 20 items covering seven human biases and stock market development developed by Mercer Consulting in 2006. Biases include overconfidence, confirmation bias, loss aversion, anchoring bias, framing bias, status quo and myopic loss. 250 questionnaires were sent to respondents of Iqra University and Sukkur IBA which include teachers, students and other professionals, only 178 questionnaires were worth full and were used in analysis. Data was analyzed through SPSS using one sample t-test and Pearson correlation coefficient techniques. Results show that the most of biases are significant but they have positive relationship with market development, it suggests that despite biases of investors market perform well and market keep developing, which is contrary to behavioral theories, only one bias that of loss aversion has negative relationship with market but that relationship is insignificant, so on the basis of that we cannot conclude that biases have an impact on market development.

Key Indicators towards the Implementation of Green Government Procurement in Malaysia

Description
 
Green issue is considered as one of the worldwide issues. Many countries such as the United Kingdom, Japan, and European Union countries have been actively adopting the sustainable green living concept in their normal lives. Since government is considered as the main purchaser in a country, it represents a large proportion of total public spending in both developed and developing countries. One of the initiatives that already been taken in Malaysia is the implementation of green government procurement (GGP). It has been recognized as an effective tool in minimizing the environmental impacts and can be determined as the government’s commitments in sustaining the environment that can be emulated by the society as a whole. However, there is no specific policy, regulation and legal framework that has been implemented in regards to GGP since GGP is a very newconcept in Malaysia. GGP has been outlined in Chapter 6 in 10th Malaysian Plan under valuing thenation’s environment endowment and the New Economic Model under ensuring sustainability ofgrowth. This research is undertaken due to there is no specific guideline or framework that can be usedor referred by the procurement officers in implementing GGP practices in their organizations by usingthe proposed model. Three main indicators that been involved are familiarity with policies,organizational initiatives and supplier availability that leads to the implementation of the GGPpractices in the organization. These indicators hopefully will be useful for the regulators and policymakers, statutory bodies, government linked companies (GLCs) and suppliers in managing the GGPpractices.

Foreign Direct Investment Affluences in Iskandar Malaysia

Description
 
Iskandar Malaysia is one of the regional economic growth areas that have been identified by the government of Malaysia to spearhead economic transformation programmes as stipulated in the Tenth Malaysia Plan. The aims of the economic transformation programmes are to address the declining trend in foreign investment and outflow of human capital, as well as to spur the next stage of economic development. Thus, Iskandar Malaysia serves as the platform to highlight Malaysia’s structural shift to broader macro objectives that aims to transform Malaysia into a developed nation by a knowledge-based economy. Since its inception in 2006, Iskandar Malaysia has attracted foreign investments of about RM111.4 billion as of the first quarter of 2013 and 40% of the investments has already been realised. The entry of heavyweights foreign investors such as Temasek, Ascendas, CapitaLand, China’s Country Garden and Australia’ Walker Corp have propelled foreign direct investment (FDI) flows into Iskandar Malaysia, making it highly dependent on foreign funds for development. Although FDI is the key catalytic agent of economic growth and development, it is not without pitfalls and setbacks, especially on local community and average households in Johore. The aim of this paper therefore, is to examine the affluences and setbacks of FDI in Iskandar Malaysia on average local households across the five flagship zones of Iskandar. The study would include analysing the impact of FDI on culture and social-economic environments as well as on natural surroundings in the Iskandar area, and subsequently, attempts to touch on the sustainability of FDI in maintaining rapid economic progress of Iskandar Malaysia.

Transferring the Technology via Foreign Direct Investment: Does this Approach Escalate the Competitiveness of the Economy for the Developing Country?

Description
 
Accentuate on trade liberalization and disseminating the advancement of inter-dependence and inter-regional relationship with the incorporate of globalization facilitating the transferring technology assists to explore the resources and proliferate the market opportunities and ensure sustainable competitive advantages for the international organization. Considerable amount of foreign direct investment, promote multifarious innovation and gripping capacity building, transborder scientific and technological affinity and collaboration formulate and arrange by the transnational corporation for transferring and transmitting know-how accelerate the adroitness and capacity to build a superiority in the host country. Evidence exhibits that globalization of production and globalization of technology expanded the market coverage for the multinational firm in the developing country but ultimately economic propagation and acceleration is remain stable or decelerate in the developing country because of insufficiency of capacity on inclusion of modern technology, fragmented and unsubstantial procedures, inadvertent infrastructure and business environment and also pitiable intra-organizational network make a multitudinous predicament for enhancement of economic and socio-economic phenomenon. For ensuring unremitting economic advancement and acquiring the affirmative feedbackfrom the foreign direct investment developing country need to codify and accomplish the substantialtasks like determining the way to engage in the bilateral and multilateral mechanisms for technologytransfer with the advance country, to establish a conceptual framework for capacity building andinstitutional arrangement, promote private participation and collaboration for swelling the efficiency inthe national level, formulate the congruous contrivance for identifying the barriers and opportunities ofthe mechanisms for exploring and diffusion of technology that optimistically alleviate the gap ofexploring the new technology and utilization of knowledge for ensuring the aptitude and compete withthe advance country.

Continuance Intention Usage towards E-HRM

Description
 
The study is focused on a model extension of the attitude towards using Electronic Human Resource Management (E-HRM) by linking attitude to E-HRM continuance intention. In addition, the proposed model elaborates the contingent factors that based on Technology Continuance Theory (TCT) that shape E-HRM continuance intention. This paper advances the emerging body of research on E-HRM by extending the theoretical boundaries of the E-HRM continuance model, and contributes to E-HRM technology research. Questionnaire was used to collect the data from 193 respondents among E-HRM users in Penang and Partial Least Square (PLS) was used as a tool for model construction and hypothesis testing. The survey questions were based upon the Technology Continuance Theory (TCT) using a 7-point Likert scale. The study found that the perceived usefulness, attitude and satisfaction were positively related to continuance usage of E-HRM. Perceived ease of use, satisfaction and perceived usefulness were positively related to attitude. Usefulness and Confirmation were also found to be positively related to satisfaction. Ease of use and Confirmation were found to be positively related to Usefulness. Future empirical studies based on the model studied in this paper should help identify areas with significant impact on users’ continuance intention towards using E-HRM technology in a fast moving environment.

Government And Poverty Alleviation in Ondo State, Nigeria

Description
 
Poverty is a household name most especially in the Third World Nations. However, it is a plague that affects all people across the globe. Governments at all levels had embarked on policies and measures at different times to eradicate this menace to no effect. Thus, the phenomenon ‘poverty alleviation’ emanated.This paper therefore examined different measures embarked upon by governments in Nigeria in general and Ondo State in particular with special attention on government activities since the inception of Democracy in 1999. Efforts were made to engage in descriptive comparative analysis of the efforts by successive governments in the state, using econometric analysis of simple ratios and percentages. Most importantly, an in-depth examination of the policies of the present day government (the Dr Olusegun Mimiko-led administration) was carried out. Not only this, the extent to which these measures had affected the lives of common man on the street was also examined. It was thus found out that the present day administration was able to achieve so much in poverty reduction in the state basically as a result of its grass root (house-to-house, door-to-door) policies implementation.The paper therefore recommends that for a government to achieve its set goal of affecting the lives of her people, such people-based (see-and-buy) policies of the present day administration in Ondo state must be the main stream of such an administration. The type of unmonitored delegation; “money-must-pass-hands” policies where governance is maladapted and hide and seek; corruption laden governance prevail in the administration of a state must be totally jettisoned as this aid diversion of public funds, breeds corruption and enhances poverty.

Measuring The Quality of Sustainability Disclosure in Malaysian Commercial Banks

Description
 
The banking industry in Malaysia is undergoing fundamental changes due to the numbers of the driven factors such as the market liberalism, stakeholder expectation, and environmental risks. As a result, in the recent market developments, the competitive and regulatory landscape in the financial services industry has been evolving at an unprecedented speed. Looking ahead, financial services organisations must seek ways to improve profitability while balancing the demands of regulatory change. Thus, sustainability disclosure is seen as a medium that can be used in conveying the information. However, due to the lack of the standard guidelines available for banking institutions which making the reports not comparable and also the importance of sustainability in ensuring the long term survival of the banks, this study will employ the content analysis method in order to measure the quality of sustainability disclosure by 15 commercial banks in Malaysia. Hence, in ensuring the reliability and the validity of the index this study will adapt the Global Reporting Initiatives G3.1 guidelines as a basis. With the development of the index it is expected to have a benchmarking across the banking industry and increase the transparency of the disclosure in the sustainability issues.

Mono Mode Vs Multiple Modes in the Context of Complexity Economics Through Mmtpi and Abtwram Both in Developing and Developed Countries

Description
 
The patterns of evolutionary economics has illustrated the increasing gap of divergence between the traditional and assimilated realities, which were pointed out by Yin-Yang and vedic economics. The flow of research has illustrated the critical discussions on meso trajectory phases of innovation, and the interaction effects between Animal Spirits, Buchanan’s taxonomy, Wagner’s Law, Rahn-Armey Curve and Metcalfe’s Law in describing mono and multiple modes of complexity economics that are consist of actors of network, asymmetrical flow of information, inflationary risk, technological risk and environmental risk of public through the theory of structural change. The flow of research has proposed the balanced segments of government (proper regulation, the supervision of projects proposals and interactional upgrading of intellectual engagements), private and public institutions, actors of academic industry, nature of ethics, and etc that will be required for the maintenance of sustainable movement of evolutionary paradigm which will be directed through the concept on the modified version of meso trajectory phases of innovation that has also captured the main aspects of creative destruction (Mark 1), creative accumulation (Mark 2), mode of information accessibility, the number of actors in a structure of network. Besides that, the designed structure of this paper has dissected the importance of dual concepts of catching up and patching up from the ethnical view of the system.

Extended Formalized Model for Financial Module of Open Source ERP System using REA Ontology

Description
 
The REA ontology is well-known as business ontology and it can be represented in various models such as ER Diagram, UML class diagram, etc. This paper demonstrates the reverse engineering of the Open Source ERP’s source code into UML class diagram and performs the steps to classify the REA role of each particular classes of the ERP design model. We propose an extended meta-model of REA ontology which is written in UML class diagram. Our new meta-model helps to describe the original Economic Resource, Economic Event, Economic Agent and also the Support Event and its type. We found that our extended meta-model of REA works sufficiently well with our selected Open Source ERP product.

Youth Unemployment in Mauritius: The Ticking Bomb

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n/a

An Import Demand Function for the Australian Economy Using Vector Autoregression Techniques

Description
 
The recent growth in the Chinese economy appears to have contributed to the recent mining boom in Australia. While Australia’s mining industry is an export-oriented industry, the imported capital equipment suggests that there may be a relationship between exports and imports. This paper analyses whether imports are likely to be affected by exports. While this question has received some attention in the literature, this is the first Australian study to investigate this relationship using a Vector Autoregression (VAR) approach. This VAR model thus incorporates lagged values of imports and exports as explanatory variables. To develop this model, data from 1984-2012 was used. The data was tested for stationarity; and these tests conclude that there is a statistically significant cointegrating relationship between imports and exports. Policymakers may benefit from an understanding of this relationship; as such an understanding might assist them in the formulation of future international trade policy for Australia.

Moderating Effects of Personal Characteristics on Intention to be Involved in KM Process

Description
 
This study investigates the contributing factors of intention to be involved in KM process as well as the moderating effects of personal characteristics on intention to be involved in KM process. As the scope of the KM is very wide, this study was confined only to the knowledge creation and sharing processes of KM. Data were collected from 313 executives of seven companies in the Sri Lankan Telecommunication Industry using self-administered questionnaires. There were four significant predictors of intention to be involved in KM process; two KM enablers and two individual acceptance factors; namely ‘trust & collaboration’, ‘ICT use and support for search and sharing’, ‘performance expectancy of KM’, and ‘effort expectancy of KM’. Furthermore, the study found that gender moderates the relationship between ‘ICT use and support for search and sharing’, ‘performance expectancy of KM’ and intention to be involved in KM process. The findings suggest that if the policy makers in the industry are planning to implement KM initiatives, they should consider gender differences of the executive and the strategies should be formulated accordingly.

The Influence of Personality Traits on the Relationship between Work-Family Conflict and Job Satisfaction among Married Women

Description
 
The role of women has changed dramatically. The claim has been supported by a general consensus among researchers that many married working women experience significant work-family conflict (WFC). However, the personality traits have been only minimally considered in the studies of WFC especially in Malaysia. To fill in this vacuum, this paper aims at investigating the influence of personality traits on the relationship between WFC and job satisfaction among employed married women by analyzing related published articles in the area. A conceptual framework is developed indicating that job satisfaction is influenced by WFC and is moderated by the Big Five personality traits. Hence, a conceptual framework is developed indicating that the dependent variable of job satisfaction is influenced by the work-family conflict. This relationship is moderated by the personality traits which taken from the framework of the Big Five Model, that is, emotional stability, extraversion, conscientiousness, agreeableness, and openness to experience. It is concluded that this paper is perhaps one of the earlier to propose that the different personality traits might have different influence on the way the married women employees manage their work-family conflict and job satisfaction in Malaysia.

Impact of Large Investors on Firm Dividend Policy

Description
 
Block holders have significant impacts on the firm’s policies, especially strategies regarding the payout policy. The purpose of this study is to investigate the relationship between ownership structure and firm dividend policy considering the role of block investors in the companies listed in TSE. We selected 37 public listed companies with state block holders and match them with almost similar companies with non-state block holders in 2012. Running a multiple regression, we found that there is a positive relationship between both types of block holders and firm’s dividend policy. These results support the tax-based hypothesis.

An Econometric Modelling and Prediction of the Pattern of Corporate Failure in Periods of Financial and Currency Crisis: A Conceptual Analysis on the Asian Continents

Description
 
Exchange rate misalignment (which is a prelude to financial crisis), macroeconomic volatility, linear and non-linear exchange rate exposure, financial crisis, contagion, and spillovers are key vices that often pose significant threats to corporate survival. In view of this, this paper shows how the 1966 corporate failure models failed to reflect the challenges of the 21st century’s economic dynamics and experiences of corporate failure, particularly in Asia. The paper exposes the weakness of the 1966 models and makes the case for the need for more cogent models that can parsimoniously capture lingering and untamable systematic risks in an economy. To do this, we argue that there is a chicken and egg relationship between corporate failure and the range of financial and macroeconomic crisis indicators in order to determine if corporate failures can be efficiently predicted by ratios or by exogenously induced catastrophic factors. We do this by applying the teaching and philosophy of the concept of catastrophe theory. The result of our theoretical and conceptual analysis indicates that modern corporate failure prediction is not able to rely on the ordinary ratio. As a result of this, we recommend and establish a procedure for an ex ante econometric estimation and prediction model of corporate failure that has generally encompassing features relevant particularly during an incoming financial crisis.

A Startling New Empirical Finding on the Nexus Between Financial Development and Economic Growth in Kenya

Description
 
The recent global financial crisis has plunged the Kenyan economy into a substantial economic contraction that has created massive currency depreciation, falling production across most sectors of the economy, reductions in international demand, and stagnation in the tourism industry. It is in reference to these episodes that this study aims to investigate whether the long-run financial development and economic growth prospects of the Kenyan economy have been affected, and to determine empirically the explanatory variable(s) responsible for the slowdown in Kenyan economic growth. To achieve this, we measure the short-run and long-run impact of financial development on economic growth using time series data from 1980 to 2011. The ARDL bounds-testing approach to cointegration was applied because of the I(0) and I(1) nature of the data. Similarly, the U test of Mehlum and Sasbuchi was used for the first time to determine whether the variables had a monotonic or non-monotonic relationship. The finding of the study established that financial development has no contributory effects on Kenyan GDP in both the short-run and the long-run and this is immaterial to the course of the financial crisis. Trade openness was consistently discovered to be the greatest impediment to the improvement of Kenyan economic growth due largely to its negative and insignificant impacts on GDP in both the short-run and the long-run. The study equally discovered that the relationship between finance and GDP is monotonic, meaning that there is no excessive monetary dilation in the Kenyan economy. The most startling empirical finding of this study is that the GDP of continents with evidence of the demand-following hypothesis, as in the case of Kenya, has the fastest error correction model readjustment possibilities despite the crisis and other prevailing macroeconomic vices. The question of why and how opens up another area of empirical research.

Revitalization of Local Goverment Enterprises (BUMD) in Kediri, East Java

Description
 
The research purpose is exploring the owned enterprises with the development problem and to formulate program to revitalization strategy for Kediri region owned enterprises. The method is Innovation Assessment for determine position of Kediri region owned enterprises. Analyze factors that has strong influence into problem development is concluded with Mapping Perception Analysis. According from finding of research, the water company (PDAM or region Kediri on enterprises) shows every condition of company has a drawback in market research and competitive analysis. On the other hand the drawback of the BPR are market research and competitive. Therefore Revitalization is needed either internal side or external side. The Revitalization internal of company improves powerful internal synergy (team management) and GCG (good corporate governance). Where revitalization external side company improve the pricing regulation (for Regional water company) and asset arrangement acceleration (for Regional Market trading enterprises).

Business Website Interface Design for Feature Based Review Posting and Handle Spam: Concise Model

Description
 
Opinion mining is a novel filed of research. Though a lot of work has been carried out on sentiment analysis, little work has done on feature analysis. In order to strengthen businesses in competitive market, there is a need for particular and precise feature analysis. There is a lot of online information available on web sites that offer the visibility of reviews to use. A minimum work is being done on developing the business websites from that companies may retrieve the data for analysis. Companies can apply opinion mining techniques identify users’ reviews in order to improve their businesses. We present a model to analyze customers’ opinion by providing an improved and convenient interface regarding hotels in Malaysia named featured based opinion posting. Such results can be used to find public perception in order to better understand business demands and full fill customer’s need and strengthen economic values. The feature based review posting can minimize the work of feature extraction that is required for regular opinion posting and can be helpful in reducing spam. The feature based opinion posting may give related and concise data that is used for potential users and owners to improve the business strategies according to users’ feedback.

Policy Transformation from Public Sector Agency to Business Entity: Lessons Learnt in Implementing Corporatisation Policy by Government Linked Research & Technology Organisations in Malaysia

Description
 
Early 1990 under the 9th Malaysia Government of Malaysia (GoM) emphasised on wealth creation in order to increase the economic growth of the country. One wayis through a Corporatisation initiative, where a Public Sector Agency is transformed into business entity. As a Corporatised Business Entity, new management leadership styles and management systems need to be changed accordingly in order to implement and deliver the Corporatisation Policy effectively.In the past, majority of Public Research Institutes have been successfulin delivering their roles in developing new knowledge and technologies, solving various technicalproblems and assisting local industry to be competitive. Due to their excellence in performance, a few selected Public Research Institute have been corporatised in mid the 1990s namely MIMOS, SIRIM Berhad, MPOB etc. These new knowledge and technology based organisations have been entrusted to extend their services to stimulate market-oriented R&D and facilitate the commercialisation of new technologies.The aim of this paper is to share lessons learnt in implementing the Corporatisation Policy. In addition this paper offers a solution to overcome those shortcomings by adopting Innovation Management approaches. This innovation management approach can be adopted and implemented by the Public Sector as well. This paper can be used as a reference for other Government; mainly those from developing nations should they decide to adopt the principles of the Corporatisation initiative.

Poverty Alleviation and Long-Term Sustainability of Microfinance Project: With Special Reference to Matale District

Description
 
This research is attempted to assess the strengths of poverty alleviation initiatives taken by foreign donors in Sri Lanka. Hence research basically studied the Matale Regional Economic Advancement Project (MREAP) which was funded by the International fund for Agricultural Development (IFAD). Study was based on both primary and the secondary data. Primary data were collected through interviews held with project officers, beneficiaries and other government officers who were involved with various activities in project villages. Descriptive analysis, , double difference method, and the regression analysis were the analytical tools used in data analysis. According to the results of the double difference analysis and the descriptive analysis microfinance facility provided by the MREAP has influenced significantly on income levels of the beneficiaries. In general, microfinance has influenced positively on poverty alleviation of beneficiaries. According to the beneficiaries MREAP was a successful project as it provided microfinance for the appropriate businesses during the project implementation period but, neither MREAP nor other government organization have monitored the sustainability of project activities. Analysis of the project reveals that Microfinance is one of the effective tools in poverty alleviation in Sri Lanka and, it is very essential to provide a healthy macroeconomic environment avoiding unnecessary political intervention for the microfinance projects to function effectively and efficiently. This information revels that monitoring of long term sustainability of the activities initiated during the project period after the termination of the project is a vital facto that due attention of relevant authorities should be received.

The Potential Impact of HRM Practices towards Employee Job Satisfaction – A study of Government Hospital in Malaysia

Description
 
The main objective of this research is to explore the potentials impacts of Human Resource Management (HRM) practices (i.e. training, performance appraisal and employee participation) towards employee job. Few studies have been conducted to examine the relationship between impacts of HRM practices towards employee job satisfaction. The results show the performance appraisal is the positively impact towards employee job satisfaction, but not for training and employee participation. Besides that, the results of the study also show that performance appraisal have significant relationship towards employee job satisfaction. The findings of this research will provide valuable insights for the management of government hospital to create good HRM practices that will increase the employee satisfaction towards their job and encourage the increasing quality of work among the employees.