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Risk Management Strategy ProposalBHP Billiton and Euro
Issue:
Volume 3, Issue 5, October 2015
Pages:
411-416
Received:
6 August 2015
Accepted:
12 August 2015
Published:
21 August 2015
Abstract: BHP Billiton is an Anglo-Australian multinational mining, metals and petroleum company headquartered in Melbourne, Australia. It is the world's largest mining company measured by 2013 revenues. The company has a large amount of business in Europe every year.In this article we focus on the risk and the risk management strategy for BHP on the Euro and try to establish a better way to hedge the foreign exchange risk for BHP.
Abstract: BHP Billiton is an Anglo-Australian multinational mining, metals and petroleum company headquartered in Melbourne, Australia. It is the world's largest mining company measured by 2013 revenues. The company has a large amount of business in Europe every year.In this article we focus on the risk and the risk management strategy for BHP on the Euro an...
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Multiplicity of African Regional Economic Communities and Overlapping Memberships: A Challenge for African Integration
Muhabie Mekonnen Mengistu
Issue:
Volume 3, Issue 5, October 2015
Pages:
417-425
Received:
29 July 2015
Accepted:
10 August 2015
Published:
21 August 2015
Abstract: The quest for regional integration in Africa has long been entrenched in the history of the continent. Anchored with its diversities, regional integration in Africa has been emerging from the politics of anti-colonialism, but on the basis of pre-existing colonial arrangements. It continues to this date with different shapes and forms. But in general, the journey was a tough and rough. It could be, partly; because of the multiplicity of RECs which deters the forward movement of the integration processes across the continent. Thus, this research was conducted to critically analyze the multiplicity of African Regional Economic Communities and the overlapping membership of African countries in the due process of regional integration. Accordingly, the result of the study shows that the proliferation of RECs complicates the overall continental integration process and put massive strains on the member states ability and resources to cope with diverse agendas and exigencies. Moreover, in this research; complications, contradictions and duplications of activities, the need of ‘Modus Operandi’ due to the variable geometrical integration of countries, overlapping authority, problems of harmonization of policies, high management and financial burdens on the member states were revealed as some of the effects and worries of multiplicity of RECs and overlapping memberships. Hence, eradicating wasteful or costly duplication of multiple memberships and rationalizing some overlapping sub-regional blocs should be a demanding agenda all over the continent.
Abstract: The quest for regional integration in Africa has long been entrenched in the history of the continent. Anchored with its diversities, regional integration in Africa has been emerging from the politics of anti-colonialism, but on the basis of pre-existing colonial arrangements. It continues to this date with different shapes and forms. But in genera...
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The Relationship Between Inflation and Economic Growth of Bangladesh: An Empirical Analysis from 1961 to 2013
Issue:
Volume 3, Issue 5, October 2015
Pages:
426-434
Received:
13 August 2015
Accepted:
28 August 2015
Published:
8 September 2015
Abstract: The link between inflation and economic growth is one of the most important controversies in the economic literature. It is widely believed that moderate and stable inflation rates promote the development process of a country, and hence economic growth. Moderate inflation supplements return to savers, enhances investment, and therefore, accelerates economic growth of the country. This paper empirically explores the present relationship between inflation and economic growth in the context of Bangladesh. Using annual data set on real GDP and Gross Domestic Product Deflator (GDPD) for the period of 1961 to 2013, an assessment of empirical evidence has been acquired through the co-integration test, error correction models and Granger Causality test. The empirical evidence demonstrates that there exists a statistically significant long-run negative relationship between inflation and economic growth for the country as indicated by a statistically significant long-run negative relationship running from Gross Domestic Product Deflator (GDPD) to GDP. Again the empirical evidence demonstrates also that there exists a statistically significant long-run positive causality running from GDP to Gross Domestic Product Deflator (GDPD). In addition, economic growth affects inflation positively. But when increase in the rate of inflation goes beyond the threshold inflation level then inflation affects economic growth negatively. The paper discusses the important policy implications of the results.
Abstract: The link between inflation and economic growth is one of the most important controversies in the economic literature. It is widely believed that moderate and stable inflation rates promote the development process of a country, and hence economic growth. Moderate inflation supplements return to savers, enhances investment, and therefore, accelerates...
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Hedging Foreign Exchange Risk Exposure by Importer Companies
Issue:
Volume 3, Issue 5, October 2015
Pages:
435-440
Received:
20 August 2015
Accepted:
1 September 2015
Published:
11 September 2015
Abstract: The study was conducted in order to disclose the Foreign Exchange (FX) rate risk faced by every importer company. The paper investigates FX risk hedging strategy using forwards versus floating strategy in terms of minimizing total importing costs. The study exposes real-life costs of hedging strategies using forwards comprising theoretical foundations as well as practical implementation example based on real company data. The main question to be answered in the paper is whether it is beneficial to hedge with FX forwards or it is better to float FX exposure.
Abstract: The study was conducted in order to disclose the Foreign Exchange (FX) rate risk faced by every importer company. The paper investigates FX risk hedging strategy using forwards versus floating strategy in terms of minimizing total importing costs. The study exposes real-life costs of hedging strategies using forwards comprising theoretical foundati...
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The Credit Policies and Credit Finance Creation Practices by Commercial Banks in Ghana: Perspectives of Staff and Clients of the Prudential Bank Limited
John Kwaning Mbroh,
Kwesi Asiedu Koomson
Issue:
Volume 3, Issue 5, October 2015
Pages:
441-452
Received:
21 August 2015
Accepted:
30 August 2015
Published:
12 September 2015
Abstract: Commercial banks play a crucial role in credit financing of individuals, institutions and generally, their clients. They use a system of credit management to govern their operations in this regard. Specifically, they do this through established credit policies or systems and to an extent, the relevant policy determines a given quantum of credit finance on case-by-case basis but most importantly, whether or not to grant the credit finance request upon assessment. Conveniently sampling the perspectives of both credit officers (15) and customers (67) of the Prudential Bank Limited, primary and secondary data sources were used, with the primary data obtained through unstructured interviews and two sets of self-administered questionnaire for the respective respondent-categories. The findings reveal that both categories of respondents recommend the need for the bank to decentralise its credit finance application processing and approval system. Due to the bank’s existing credit policy, customers had to wait, on average, one month for the approval or otherwise of their requests, with the salaried-worker customer-group granted more credit finance than the others. Also, the bank had granted more credit in the form of loans. Sadly, business persons and other categories of customers were waiting three months for response to their credit finance requests. The customers and their bankers disagreed in their respective perspectives regarding the main reason(s) for granting or declining credit finance requests as well as on matters of collateral security. Among others, the study recommends the shortening of credit facility processing time to enhance the bank’s competitive drive in the banking industry and also to make these facilities more responsive to the needs of the customers. Future research is expected to conclude on the extent of impact that banks’ credit policies have on their credit finance creation.
Abstract: Commercial banks play a crucial role in credit financing of individuals, institutions and generally, their clients. They use a system of credit management to govern their operations in this regard. Specifically, they do this through established credit policies or systems and to an extent, the relevant policy determines a given quantum of credit fin...
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A Comparative Study on Sustainable Procurement Practices in Sisal Processing Firms in Nakuru County
Muma Benard,
Eunice Waruguru,
Caroline Mundia,
Sophie Kiruri
Issue:
Volume 3, Issue 5, October 2015
Pages:
453-459
Received:
5 August 2015
Accepted:
11 August 2015
Published:
17 September 2015
Abstract: Sustainability in business operations continues to attract much attention in the business environment and so is among researchers. This is due to the benefits organizations enjoy when they achieve internal sustainability. While most organizations adopt sustainable business practices for various reasons; to improve performance and to be responsive to stakeholders’ demands, some organizations just adopt these strategies s a formality. In developing countries for instance, most organizations do not take a strategic approach to sustainability in internal business organizations. It is clear that studies need to be conducted on sustainability so that recommendations can be made to management of processing and manufacturing firms to enhance sustainability. This study sought to establish the level to which sisal processing firms in Nakuru County adopt sustainable procurement activities and further compare the level of adoption between the two major sisal processing firms in Nakuru County; Athinai Sisal Estate Lomolo (1962) Ltd. The study adopted a comparative study design and was guided by four objectives; To compare the level Supply Chain Efficiency between Athinai Sisal Estate and Lomolo (1962) Ltd., To compare Supply Chain Risk Management practices between Athinai Sisal Estate Lomolo (1962) Ltd., To compare attention to Stakeholder’s Expectation and Awareness between Athinai Sisal Estate Lomolo (1962) Ltd. And To compare Supply Chain Organizational Policy Commitment between Athinai Sisal Estate Lomolo (1962) Ltd. The study findings revealed that the two firms adopt similar sustainable procurement activities. However, Athinai Sisal Estate was found to adopt these practices at much higher level. The study recommended that the processing and manufacturing organizations build sustainability in the internal business operations and take a strategic approach to sustainability. Sustainability in operations should not be left functional areas. It should be management led and should be a cross the organization. The researchers suggested that further studies should be done on other sustainable business practices such as reverse logistics, just in time and green supply chain management as well as establish the role of these practices in operational and other aspects of organizational performance.
Abstract: Sustainability in business operations continues to attract much attention in the business environment and so is among researchers. This is due to the benefits organizations enjoy when they achieve internal sustainability. While most organizations adopt sustainable business practices for various reasons; to improve performance and to be responsive t...
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Modeling the Two-Region, Two-Product Capacitated Production and Transportation Problem
Issue:
Volume 3, Issue 5, October 2015
Pages:
460-464
Received:
31 August 2015
Accepted:
16 September 2015
Published:
26 September 2015
Abstract: In this paper, we examine the problem of establishing minimum cost production and transportation plans that satisfy known demands over a finite planning horizon. Two products, product 1 and 2, can be produced in each of two regions. Each region uses its own facility to supply the demands for two products. Demands for product 2 in one region can be satisfied either by its own production or by transportation from other region, while no transportation between two regions is allowed for product 1. Moreover, the transportation in each period is constrained by a time-dependent capacity bound. Production and transportation costs are assumed to be non-decreasing and concave. Using a network flow approach, properties of extreme points are identified. Then, a dynamic programming algorithm is developed to find an optimal plan.
Abstract: In this paper, we examine the problem of establishing minimum cost production and transportation plans that satisfy known demands over a finite planning horizon. Two products, product 1 and 2, can be produced in each of two regions. Each region uses its own facility to supply the demands for two products. Demands for product 2 in one region can be ...
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Inventory Control as an Effective Decision-Making Model and Implementations for Company’s Growth
Issue:
Volume 3, Issue 5, October 2015
Pages:
465-472
Received:
21 August 2015
Accepted:
13 September 2015
Published:
26 September 2015
Abstract: The purpose of this study is to carry out research to analyse factors involved in inventory control decision process and its implementation for company’s growth. The research is to be carried out through secondary data available in the perspective of the topic. The research centered on the concepts of inventory control decision-making process, and a detailed reports of different businesses implications of inventory control decision making process and its influence in company’s growth and survivals in competitive environment. The theoretical details of the research assess some examples of some companies that have successfully achieved inventory control, which leads to minimum cost implications for holding inventory.
Abstract: The purpose of this study is to carry out research to analyse factors involved in inventory control decision process and its implementation for company’s growth. The research is to be carried out through secondary data available in the perspective of the topic. The research centered on the concepts of inventory control decision-making process, and ...
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Fighting Organized Crime in Mexico: 2006-2012
Gerardo Reyes Guzmán,
Ignacio Ibarra López,
Ariel Alcantara Eguren
Issue:
Volume 3, Issue 5, October 2015
Pages:
473-482
Received:
1 September 2015
Accepted:
22 September 2015
Published:
9 October 2015
Abstract: According to the former president Felipe Calderon, the National Security Strategy, designed to overcome violence related with organized crime, made progress by the end of his Administration and improved security as a whole. This article sets two hypothesis based on Calderon’s statement: the more money invested in security, the lower the rate of homicides and the higher the rate of homicides the lower Economic prosperity. We proved these hypotheses by comparing the rate of homicides during President Calderon with those computed by former president Ernesto Zedillo and Vicente Fox. Our finding show that President Calderon invested in security a lot more than his predecessors, but could not reduce the rate of homicides. At the end of his presidency, the country became more violent but more prosperous as well.
Abstract: According to the former president Felipe Calderon, the National Security Strategy, designed to overcome violence related with organized crime, made progress by the end of his Administration and improved security as a whole. This article sets two hypothesis based on Calderon’s statement: the more money invested in security, the lower the rate of hom...
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Social Media as a Factor for Promoting Entrepreneurship - the Middle East & Oman Scenario
Baby Sam Samuel,
Joe Sarprasatha
Issue:
Volume 3, Issue 5, October 2015
Pages:
483-493
Received:
10 September 2015
Accepted:
25 September 2015
Published:
8 October 2015
Abstract: This study is focusing on to establish the Social Media as a factor for promoting entrepreneurship in Oman & the Middle East region. This was done by social media in general public as well as by Businesses & entrepreneurs. The results generated based on the social media usage in Oman and Middle East with respect to Facebook, Twitter, LinkedIn, Instagram. In terms of theoretical survey, this article clearly explains that all nations, aside from that these countries had more than 90 % of their populace utilizing long range informal communication destinations.
Abstract: This study is focusing on to establish the Social Media as a factor for promoting entrepreneurship in Oman & the Middle East region. This was done by social media in general public as well as by Businesses & entrepreneurs. The results generated based on the social media usage in Oman and Middle East with respect to Facebook, Twitter, LinkedIn, Inst...
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Financial Management Practices by Small and Micro Enterprise Owners in Ghana - Evidence from the Central Region
John Kwaning Mbroh,
Seth Quartey
Issue:
Volume 3, Issue 5, October 2015
Pages:
494-506
Received:
9 September 2015
Accepted:
24 September 2015
Published:
8 October 2015
Abstract: In Ghana, small and micro enterprise owners (SMEOs) face a lot of business management challenges and it is alleged that they suffer, mostly, in terms of their financial management practices. Using a purposive sampling technique in a self-administered data collection, this study attempts to highlight the specific financial management practices by the selected business owners. In all, 372 SMEOs responded and this was made up of the small enterprise segment (118) and the micro enterprises (254), selected from the twenty administrative district capitals in the Central Region of Ghana. The findings show how haphazard, perhaps carelessly, the business owners have financially managed their respective enterprises. Indeed, only 13% of the respondents actually understand the meaning of financial management, and regardless of the business segment differences, majority (36%) of the respondents had misconceived that maintaining proper financial records was all that financial management meant. Further worrying, is the fact that only 13% of overall respondents were specific that they did not understand the meaning of financial management, in addition to several intriguing revelations. The study recommends stakeholder collaborative efforts involving business schools in both polytechnics and universities with relevant agencies and NGOs in building the financial management skills and capacities of the business owners. On their own, the enterprise owners have been advised to urgently take steps to acquire these relevant skills since they need and benefit most. Future research recommendations include a study on the impact of financial management on these businesses.
Abstract: In Ghana, small and micro enterprise owners (SMEOs) face a lot of business management challenges and it is alleged that they suffer, mostly, in terms of their financial management practices. Using a purposive sampling technique in a self-administered data collection, this study attempts to highlight the specific financial management practices by th...
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Sound Corporate Governance and Its Benefits in Financial Institutions: Does It Really Matter for Organizational Development
Md. Joynal Abedin,
Syed Arif
Issue:
Volume 3, Issue 5, October 2015
Pages:
507-525
Received:
10 September 2015
Accepted:
23 September 2015
Published:
12 October 2015
Abstract: Corporate governance in modern times is a rising hot-cake concept that is being introduced worldwide almost in all corporations. The primary purpose of corporate governance is to ensure transparency and equality between a corporation and its shareholders. The intention of this paper is to assess the overall concept of corporate governance, and its practices present in financial institutions. Corporate governance right now is a rising concern all-inclusive, and its streak is beginning to be seen nowadays in our country as well. In our study, we have interviewed executive personnel from financial institutions to find out how much of corporate governance practices are followed in the corporate financial sector. Subsequently, we have tried to identify the benefits of it in financial institutions and the correlation with organizational development.
Abstract: Corporate governance in modern times is a rising hot-cake concept that is being introduced worldwide almost in all corporations. The primary purpose of corporate governance is to ensure transparency and equality between a corporation and its shareholders. The intention of this paper is to assess the overall concept of corporate governance, and its ...
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Impact of Government Borrowing on Bank Liquidity Crisis: An Econometric Analysis
Issue:
Volume 3, Issue 5, October 2015
Pages:
526-534
Received:
27 July 2015
Accepted:
26 August 2015
Published:
16 October 2015
Abstract: This paper attempts to reveal the ultimate determinants affecting the recent liquidity position of commercial banks in Bangladesh. The whole scenario is presented through focusing on the various elements affecting the liquidity position in commercial banks over a period of time. This liquidity position of commercial banks is affected by many macro economic variables such as savings and investment, distribution of credit, interest rates and economic growth. The models developed in this paper divulge that some of the determinants such as share price Index, overall investment position of commercial banks, M2 Currency, overall classified loans of commercial banks and outstanding amount of L/C significantly affect the liquidity position of commercial banks in Bangladesh. Although net government borrowing from banking sector also affects the liquidity position of commercial banks through creating crowding-out effect for private investors, the models mentioned in this study reveal that net government borrowing is not individually significant in explaining liquidity position of commercial banks rather this net government borrowing along with other variables is jointly significant in explaining liquidity position. As a corollary, this paper examines whether the so-called Government borrowing in recent years may cause the liquidity crisis in commercial banks of Bangladesh.
Abstract: This paper attempts to reveal the ultimate determinants affecting the recent liquidity position of commercial banks in Bangladesh. The whole scenario is presented through focusing on the various elements affecting the liquidity position in commercial banks over a period of time. This liquidity position of commercial banks is affected by many macro ...
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Effect of Information System on Upstream Supply Chain Management Among Supermarkets in Nakuru Town, Kenya
Caroline Mundia,
Elton Kipkorir Langat,
Steve Lelegwe
Issue:
Volume 3, Issue 5, October 2015
Pages:
535-540
Received:
15 August 2015
Accepted:
1 September 2015
Published:
23 October 2015
Abstract: This study was conducted to find out the effect of Information Systems on Upstream Supply Chain Management. It determined the effect of ERO on Upstream Supply Chain Management and the effect of EDI on Upstream Supply Chain Management among supermarkets within Nakuru town. This study involved all the 9 supermarkets in Nakuru town. The primary data on information systems, enterprise resource planning and upstream supply chain management was collected using structured questionnaires with research items on each of the variables. Collected data was analyzed using a regression analysis to establish the effect of Enterprise Resource Planning and Electronic Data Interchange on Upstream Supply Chain Management. The results of the study will be shown using tables. The study findings revealed that ERP has statistically insignificant effect on Upstream Supply Chain Management while EDI has significant positive effect on Upstream Supply Chain. The recommended that organizations, especially fast moving inventory should take a strategic approach to adoption of information systems concerned with supply chain management.
Abstract: This study was conducted to find out the effect of Information Systems on Upstream Supply Chain Management. It determined the effect of ERO on Upstream Supply Chain Management and the effect of EDI on Upstream Supply Chain Management among supermarkets within Nakuru town. This study involved all the 9 supermarkets in Nakuru town. The primary data o...
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Determinants of Tax Efficiency Perceptions by Domestic Taxpayers in Kenya: The Case of Nairobi
Issue:
Volume 3, Issue 5, October 2015
Pages:
541-545
Received:
17 September 2015
Accepted:
19 October 2015
Published:
30 October 2015
Abstract: The study sought to investigate the determinants of tax efficiency perceptions by domestic taxpayers in Kenya with emphasis on Nairobi. To increase the amount of revenue, the government has in the recent past introduced excise duty on mobile money transfer, seen VAT bill passed and operationalized with campaigns to encourage Kenyans to pay taxes. The big issue in the study was that Kenya’s tax system was characterized by low efficiency, high collection charges, waste of time for taxpayers and the staff, low amounts of taxes raised and deviation of optimum allocation of resources. The specific objectives for the study were to determine the effect of given factors on tax efficiency such as the digitization of tax records to ensure transparency and credibility of records; implementing integrated tax collection system to credibly consolidate revenues by various Kenya Revenue Authority agencies to ensure proper accounting for taxes raised by the agencies; organizational restructuring by increasing the number of offices and agents of tax collection to make it easy to collect taxes and embracing electronic payment methods to make it easy for taxpayers to make payments. To meet the research objectives, a descriptive research design was used to gather information on the understanding of tax, challenges encountered in paying and collecting taxes and ways of enhancing efficiency. A linear regression model was used together with SPSS software for data analysis giving t-statistic values of 4.527, 3.346, 8.159 and 8.086 for digitization, organization restructuring, electronic methods and integrated system respectively all of which were greater than two meaning that the variables were statistically significant in explaining tax efficiency. The coefficients for digitization, organization restructuring, electronic methods and integrated system were 0.297, 0.204, 0.348 and 0.302 respectively. All of them being positive meant that there was positive relationship between each independent variable and the dependent variable, tax efficiency. The study recommended that Kenya Revenue Authority should educate taxpayers on matters to do with Kenyan tax system; seek to raise more revenue from the informal sector; increase the number of tax collecting offices and agents in some specific areas that have income generating activities; simplify the electronic payment methods and implement an integrated tax system.
Abstract: The study sought to investigate the determinants of tax efficiency perceptions by domestic taxpayers in Kenya with emphasis on Nairobi. To increase the amount of revenue, the government has in the recent past introduced excise duty on mobile money transfer, seen VAT bill passed and operationalized with campaigns to encourage Kenyans to pay taxes. T...
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Factors Affecting Performance of Donor Funded Nutrition Projects: A Case Study of Mercy USA Nutrition Project, Kenya
Okumu Silas Otieno,
Esther Waiganjo
Issue:
Volume 3, Issue 5, October 2015
Pages:
546-555
Received:
1 October 2015
Accepted:
16 October 2015
Published:
30 October 2015
Abstract: Projects remain the instruments of choice for policy makers in international development. Yet, paradoxically, the poor performance of projects and the disappointment of project stakeholders and beneficiaries seem to have become the rule and not the exception in contemporary reality. Kenya is one of the countries that receive a lot of donor support to set up nutrition projects for the purpose of improving the nutrition status of its population. Despite enormous resources channeled by donors in setting up these projects, little impact has been realized as trends in mortality rates continues to surge as a result of malnutrition. This study sought to establish the influence of training in project management and project identification on the performance of Mercy USA nutrition project. The researcher adopted descriptive research design. Census method was used for this research. The study instruments used were questionnaires with both closed and open ended questions. Statistical analysis was carried out using the Statistical package for Social Sciences (SPSS version 20). The study established that the performance of MUSA nutrition project was being affected by other factors other than training in project management. Project identification was also established to be a critical factor in performance of donor funded project. The results of this study can assist donors, donor supported agencies and other stakeholders to understand issues that support or inhibit the performance of nutrition projects.
Abstract: Projects remain the instruments of choice for policy makers in international development. Yet, paradoxically, the poor performance of projects and the disappointment of project stakeholders and beneficiaries seem to have become the rule and not the exception in contemporary reality. Kenya is one of the countries that receive a lot of donor support ...
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Effect of Reverse Logistics on Operational Performance of Sisal Processing Firms in Nakuru County, Kenya
Moses Kabergey,
Salome Richu
Issue:
Volume 3, Issue 5, October 2015
Pages:
556-565
Received:
12 October 2015
Accepted:
23 October 2015
Published:
31 October 2015
Abstract: Sustainability in business is becoming a concept that no serious organization can overlook, especially in supply chain operations. A lot of interest has been built on the concept of sustainability in the recent past because of the mounting pressure from the market, government and international non-governmental bodies especially on sustainable development and environmental protection. To achieve sustainability in the supply chain, organizations currently adopt green supply chain management (GSCM) practices. Reverse logistics is one of the commonly practiced GSCM practice. This study intended to examine the effect of reverse logistics on operational performance of sisal processing firms in Nakuru County. The research adopted correlational research design and was a cross sectional survey. It was guided by two objectives; to establish the effect of product recovery on operational performance of sisal processing firms in Nakuru County and to determine the effect of product reuse on operational performance of sisal processing firms in Nakuru County. The target population for the study was employees working in all sisal processing firms in Nakuru County. Purposive sampling was used to select employees in production, procurement, accounting and finance and marketing departments while stratifies random sampling was used to determine the sample for the study. Data will be collected through a structured questionnaire with 5 points likert scale and analyzed through SPSS version 21. Descriptive statistics was used to describe the aspects of reverse logistics and operational performance. Regression analysis was used to determine the effect of reverse logistics on operational performance. The results were presented using tables accompanied with explanations. The study revealed that product recovery and product reuse both have positive effect on operational performance of sisal processing firms. The researcher recommended that management of processing firms should look at reverse logistics as a strategy to achieve competitive advantage and manage it strategically just like other key management areas. The researcher recommended that study should be conducted on the key determinants and drivers of reverse logistics. Further study should be conducted on the relationship between reverse logistics and social performance of processing/manufacturing organizations. Lastly, further study should be conducted on the role of top management in adoption of reverse logistics practices.
Abstract: Sustainability in business is becoming a concept that no serious organization can overlook, especially in supply chain operations. A lot of interest has been built on the concept of sustainability in the recent past because of the mounting pressure from the market, government and international non-governmental bodies especially on sustainable devel...
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Comparative Study of External Supply Chain Risks on Operational Performance of Motor Vehicle Body Building Firms in Nakuru County, Kenya
Annmarie Kuria,
Dr. Josphat Kwasira,
Eunice Waruguru
Issue:
Volume 3, Issue 5, October 2015
Pages:
566-576
Received:
19 October 2015
Accepted:
26 October 2015
Published:
3 November 2015
Abstract: This study compared the effect of external supply chain risks on operational performance of Associated Motors and Truck World Company. The study was guided by three specific objectives; to compare the effect of up-stream market risks on operational performance between Associated Motors and Truck World Company, to compare the effect of external end-to-end risks on operational performance between Associated Motors and Truck World Company and to compare the effect of demand risks on operational performance between Associated Motors and Truck World Company. The population of this study was the employees working in the Procurement Department, Production Department, Finance Department and Marketing Department of Associated Motors and Truck World Company. Primary data was collected from the two motor vehicle body building firms through structured questionnaires. The data collected was coded and analyzed through SPSS version 21. Frequency, means and standard deviation were used describe the independent and dependent variables while correlation and regression analysis with t-test were used to compare the effect of external supply chain risks on operational performance in the two firms. The results revealed that external supply chain risks do not have significant effect on operational performance Associated Motors and Truck World Company. The researcher recommended that the management of motor vehicle body building firms enhance internal systems so as to buffer the organizations from external supply chain risks.
Abstract: This study compared the effect of external supply chain risks on operational performance of Associated Motors and Truck World Company. The study was guided by three specific objectives; to compare the effect of up-stream market risks on operational performance between Associated Motors and Truck World Company, to compare the effect of external end-...
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Employment and Income Effects of Tourism Activities in the Tourist City of Livingstone in Zambia
Issue:
Volume 3, Issue 5, October 2015
Pages:
577-582
Received:
15 October 2015
Accepted:
23 October 2015
Published:
10 November 2015
Abstract: This study was conducted in the tourist city of Livingstone in Zambia to find out the effects of tourism activities i.e., hotel, tourist guide, transport service/boat captain and business (curios), on employment and income. A total of 90 respondents were selected. Estimation of the factors influencing income and employment involved the use of Ordinary Least Square models. The study concluded that the effect of all the tourism activities under study on income and employment were positive and significant. The study recommended that the Government should encourage the private sector to create an enabling environment for investments in tourism activities and provide supporting infrastructure for those investments. It was also suggested to establish “One-Stop” shops, like in Mauritius, where investors can find a centralized source of information and guidance for investing. Research and Training facilities should be provided for the development of tourism sector.
Abstract: This study was conducted in the tourist city of Livingstone in Zambia to find out the effects of tourism activities i.e., hotel, tourist guide, transport service/boat captain and business (curios), on employment and income. A total of 90 respondents were selected. Estimation of the factors influencing income and employment involved the use of Ordin...
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Organized Retailing in Context with Amalgamation of Small Firms in Saudi Arabia
Issue:
Volume 3, Issue 5, October 2015
Pages:
583-593
Received:
12 November 2015
Published:
12 November 2015
Abstract: The purpose of present study systematically brings into focus the prospects of organized retailing in Saudi Arabia and its growth drivers as Baquala (small store) turning into small stores to supermarket and hypermarkets. The present dissertation is a systematic and comprehensive analysis and objective study of organized retailing in KSA and its outcome analysis thereof. The basic purpose of the present study is to find out and develop a co-relation taking place between organized retailing in KSA and growth drivers thereof. The GCC retail industry is poised for a healthy growth in Middle East and KSA. It also points out at geographical dispersions of market potential for varying class of customers. It aims at observing growth of Saudi Arabian retail market like Carrefour, Panda Bin Dawood, Al-Marai, Sadafco and Savola etc. The present study further intends to estimate share of organized retail in KSA. The dissertation further studies KSA growth drivers accelerating retail business identified as an organized retailing: for example such growth drivers like growing population, online retailing, retail demand, malls and super/hypermarket and religious tourism that gives boost to organize retailing in KSA. The present study points out at new emerging trends and retail space after the inflow of organized retailing in KSA. In order to study a comprehensive organized retailing in KSA and growth drivers operative therein, as the survey research methodology has been applied to study research objectives. Discussion in organized retailing points out at various factors like socio-economic, changing income profile, changing role of women, age factors and finally dynamic role of banking system - make a dynamic impact on organized retailing in KSA as well as growth drivers as shape, form and quality need to be maintained and modernize in terms growing organize retailing in KSA.
Abstract: The purpose of present study systematically brings into focus the prospects of organized retailing in Saudi Arabia and its growth drivers as Baquala (small store) turning into small stores to supermarket and hypermarkets. The present dissertation is a systematic and comprehensive analysis and objective study of organized retailing in KSA and its ou...
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Characteristics of the NEVs’ Potential Consumer Based on Logistic Model: Data from the Consumers of Shanghai
Issue:
Volume 3, Issue 5, October 2015
Pages:
594-598
Received:
12 November 2015
Published:
12 November 2015
Abstract: Due to the increasingly serious issues of air pollution, New Energy Vehicles (NEVs) has drawn more and more attention of government and consumers. The local government establish series of relevant policies to support the NEVs’ industry according to the comprehensive planning of the state. However, the sales of the NEV have not reached the prospective goal. The major air pollutants in Shanghai come from the emission of vehicles’ exhaust. Hence, it is urgent to develop the NEVs’ industry. In this paper, we are willing to obtain the characteristics of the NEV’s Potential Consumers and their willingness to pay for the NEVs. We construct the binary logistic model to analyze the characteristics of NEV potential consumer in Shanghai with the data obtained from the questionnaires. The consumers are classified into five categories by Twostep Cluster, and we also analyze the price range of whom are willing to purchase the NEVs. The conclusion indicates that the potential consumers of NEVs in Shanghai are people who are under 25 years old, having 4 family members, concerning on the national policies of the NEVs, acquiring the NEVs’ information from the distributor and having a highly approval of Green Purchase. The firms should focus on these groups in their strategies. In addition, the hybrid energy vehicles between 10 million yuan and 20 million yuan appeal to the consumers more. The government of Shanghai should increase subsidies’ strength of hybrid energy vehicles to gradually realize the goal of promoting the NEVs.
Abstract: Due to the increasingly serious issues of air pollution, New Energy Vehicles (NEVs) has drawn more and more attention of government and consumers. The local government establish series of relevant policies to support the NEVs’ industry according to the comprehensive planning of the state. However, the sales of the NEV have not reached the prospecti...
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Empirical Study on the Impact of Commercial Bank Income Structure on Profitability
Issue:
Volume 3, Issue 5, October 2015
Pages:
599-603
Received:
12 November 2015
Published:
12 November 2015
Abstract: With the development of banking business and the deepening of market competition, the rate of interest income in the bank's overall revenue became smaller and smaller. More banks began to divert attention to the pioneering types of services, and increasing non-interest income. According to the general theory of academia, the currently 14 listed China’s commercial banks can be divided into large joint-stock banks, medium-sized joint-stock banks and city commercial banks. Based on annual data from 2008-2014 of each listed commercial banks, we did quantitative analysis of the impact of income structure on commercial bank profitability. Analysis showed that the proportion of non-interest income (fees and commission income accounted for in the total income of) in all income and net interest margin made a positive impact on the bank profitability. In addition, macroeconomic performance also had a positive impact on bank profitability. For the national joint-stock banks and city commercial banks, loans had a negative impact on profitability.
Abstract: With the development of banking business and the deepening of market competition, the rate of interest income in the bank's overall revenue became smaller and smaller. More banks began to divert attention to the pioneering types of services, and increasing non-interest income. According to the general theory of academia, the currently 14 listed Chi...
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Coal Mine Safety Profession Talent Demand and Talent Cultivation Analysis
Issue:
Volume 3, Issue 5, October 2015
Pages:
604-610
Received:
12 November 2015
Published:
12 November 2015
Abstract: Talent cultivation is not only the first priority of education in the university but also an important prerequisite to provide talents for companies. Coal is the main body of energy consumption in China currently. So the safety production in coal industry is related to peace and prosperity of China. Especially in the difficult times of coal industry, coal mine safety talents are of great significance to the safety production in coal industry. However, it is more important to develop coal mine safety talents and make them into the construction of safety production in coal industry. So from the current general situation of coal industry, the coal mine safety talent demand situation and construction and development of coal mine safety profession, we analyze the talent demand and talent cultivation in coal mine safety profession to explore the existing problems and to give suggestions in this article, which is helpful to construct coal mine safety profession and to ensure the safety production in coal industry.
Abstract: Talent cultivation is not only the first priority of education in the university but also an important prerequisite to provide talents for companies. Coal is the main body of energy consumption in China currently. So the safety production in coal industry is related to peace and prosperity of China. Especially in the difficult times of coal industr...
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The Effect of Microblog’s Content on Customer Satisfaction
Issue:
Volume 3, Issue 5, October 2015
Pages:
611-615
Received:
12 November 2015
Published:
12 November 2015
Abstract: The new media marketing has show out a great potential with the rapid development of new media in recent years. As an important kind of new media, microblog has become a good platform for communication and interaction between enterprises and customers. The Xiaomi mobile phone is as an example to investigate the influence of enterprise microblog marketing on customer satisfaction. The attitudes of customers on different enterprise microblog contents are examined by combining experiment and questionnaire survey method. The results show that there is significant difference between the impact of social interaction microblog and task-oriented interaction on customer attitude. Social content is more likely to raise the attention of customers up. However, customers tend to support the product after they read task-oriented contents. Microblog has a significant impact on customer satisfaction, which should be used to build good customer relationships.
Abstract: The new media marketing has show out a great potential with the rapid development of new media in recent years. As an important kind of new media, microblog has become a good platform for communication and interaction between enterprises and customers. The Xiaomi mobile phone is as an example to investigate the influence of enterprise microblog mar...
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An Analysis of the Functional Effectiveness of the Automatic Stabilisers of Fiscal Policy in China
Huachun Wang,
Lu Zhao,
Xuan Zhang
Issue:
Volume 3, Issue 5, October 2015
Pages:
616-622
Received:
12 October 2015
Accepted:
26 October 2015
Published:
13 November 2015
Abstract: Granger causality Wald test and impulse response analysis were employed to test the functional effectiveness of automatic stabilisers of fiscal policy in China, which revealed that the automatic stabilisers exhibited asymmetries in fiscal revenues and expenditures. In particular, automatic fiscal stabilisers reduced economic fluctuations in fiscal revenue during economic booming and recession. With respect to fiscal expenditures, increases and decreases in central fiscal expenditures occurred during times of economic decline and growth, respectively, and thereby exerted countercyclical smoothing effects on the macro-economy; by contrast, increases and decreases in local fiscal expenditures occurred in accordance with economic developments, amplifying economic expansions or recessions. These differences in spending patterns between central and local governments caused malfunctions in automatic stabilisers that were related to fiscal expenditures. Given the premise that the relationship between central and local fiscal approaches should be rationalised, the fiscal spending policies should focus on investments in the livelihood and improvements in the autonomy of budgetary decisions by local governments.
Abstract: Granger causality Wald test and impulse response analysis were employed to test the functional effectiveness of automatic stabilisers of fiscal policy in China, which revealed that the automatic stabilisers exhibited asymmetries in fiscal revenues and expenditures. In particular, automatic fiscal stabilisers reduced economic fluctuations in fiscal ...
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Research on Pricing Decision of Closed-Loop Supply Chain Based on Carbon Tax
Issue:
Volume 3, Issue 5, October 2015
Pages:
623-629
Received:
18 November 2015
Published:
18 November 2015
Abstract: The closed-loop supply chain in this study is consist of a manufacturer, a retailer and a third-party collector of waste product. Under the decentralized decesion, the Stakelberg game is used to analyze the pricing strategy based on carbon tax. There sult show that carbon tax mechanism can effectively enhance collection volume and recycling, and all supply chain partners benefit from it.
Abstract: The closed-loop supply chain in this study is consist of a manufacturer, a retailer and a third-party collector of waste product. Under the decentralized decesion, the Stakelberg game is used to analyze the pricing strategy based on carbon tax. There sult show that carbon tax mechanism can effectively enhance collection volume and recycling, and al...
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A Study on the Relationship Between the Income Gap Between Urban and Rural Residents and the Educational Level in China
Issue:
Volume 3, Issue 5, October 2015
Pages:
630-634
Received:
18 November 2015
Published:
18 November 2015
Abstract: Education and income have been affected each other, good education can get higher income; the increase of income can pay for higher education. This paper uses statistical data to describe the current situation of the income of urban and rural residents and the educational level in China, to explain that there is a significant gap on the income between urban and rural residents or the educational level, and this gap is still maintained a trend of expansion. In order to explore the relationshipbetween the income gap between urban and rural residents and the educational level in China, this paper establishes a model to carry out linear regression analysis and test, so as to determine the level of education is an important factor affecting the income gap between urban and rural residents.The Chinese government should support the development of education, and improve the overall educational level of the people. At the same time, the government should implement the policy of educational investment and educational resources to rural areas. This has a positive meaning to realize the balanced development of education and economic income and the common prosperity of urban and rural residents in China.
Abstract: Education and income have been affected each other, good education can get higher income; the increase of income can pay for higher education. This paper uses statistical data to describe the current situation of the income of urban and rural residents and the educational level in China, to explain that there is a significant gap on the income betw...
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The Basic Situation and Analysis of Shadow Banking in China and Foreign Countries
Issue:
Volume 3, Issue 5, October 2015
Pages:
635-640
Received:
18 November 2015
Published:
18 November 2015
Abstract: Shadow banking was first put forward by Mc Cully, the executive director of Pacific Investment Management Company, in the Fed's annual meeting in 2007, which he defines shadow banking as a kind of financial entities that divorced from the traditional banking system, almost unregulated or less regulated. Since then, the concept of shadow banking spread rapidly worldwide, and has been widely cited and elucidated. At the same time, shadow banking has become an increasingly important objective existence in China. Although the scale of shadow banking is still far smaller than the traditional system, but the development of shadow banking in China is fast, and the social influence is widespread. Therefore, on the basis of studying the history and current situation of the shadow banking around the world, this paper analyzes the Chinese shadow banking system.
Abstract: Shadow banking was first put forward by Mc Cully, the executive director of Pacific Investment Management Company, in the Fed's annual meeting in 2007, which he defines shadow banking as a kind of financial entities that divorced from the traditional banking system, almost unregulated or less regulated. Since then, the concept of shadow banking spr...
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Research on the Impact of RMB Exchange Rate Fluctuation on Chinese Stock Market——From the Perspective of Index
Xing Chengdong,
Zhang Quan
Issue:
Volume 3, Issue 5, October 2015
Pages:
641-645
Received:
18 November 2015
Published:
20 November 2015
Abstract: In order to study the relationship between RMB exchange rate and Chinese stock markets, this article makes the theoretical analysis and empirical analysis, which is based on Johansen cointegration test and Granger causality test. The data include 11 Chinese industry sectors. The results show that the relation between RMB exchange rate and the logarithm of three Chinese sector indexes, containing textiles, pharmaceutical business and general machinery, exists long-term cointegration relationship, and the change of RMB exchange rate is the Granger cause of these Chinese sector indexes; however, RMB exchange rate has no significant cointegration relationship with eight Chinese sector indexes, containing paper, real estate, financial services, air transport, iron and steel, non-ferrous metals refining, petrochemical and trade. Finally, this article makes an analysis on the empirical results and presents some policy suggestions.
Abstract: In order to study the relationship between RMB exchange rate and Chinese stock markets, this article makes the theoretical analysis and empirical analysis, which is based on Johansen cointegration test and Granger causality test. The data include 11 Chinese industry sectors. The results show that the relation between RMB exchange rate and the logar...
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An Empirical Research on the Relationship Between Financial Service Trade and Financial Industry of Shanghai
Issue:
Volume 3, Issue 5, October 2015
Pages:
646-649
Received:
20 November 2015
Published:
20 November 2015
Abstract: Based on VAR model, the paper studies the relationship between financial service trade and financial industry of Shanghai through Co-integration theory. The results confirm that the equilibrium relationship between financial service trade and financial industry of Shanghai actually exists in the long term, and the relationship between import in financial service trade and financial industry is more significant. Under the condition of two phases lag, financial industry is the one-way Granger cause of financial service trade of Shanghai. Besides, the mechanism of interactive development is also been analyzed.
Abstract: Based on VAR model, the paper studies the relationship between financial service trade and financial industry of Shanghai through Co-integration theory. The results confirm that the equilibrium relationship between financial service trade and financial industry of Shanghai actually exists in the long term, and the relationship between import in fin...
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An Empirical Analysis on the Leading Role of State-Owned Cultural Enterprises in the Chinese Cultural Industry
Issue:
Volume 3, Issue 5, October 2015
Pages:
650-653
Received:
2 December 2015
Published:
3 December 2015
Abstract: According to China's national conditions and policy orientation, the state-owned cultural enterprises will occupy the leading role in the cultural industry for a long time, its development has become a hot spot of concern. This paper is to calculate the correlation degree between the state-owned and the non-state-owned cultural enterprises through the Grey Relational Analysis method. It’s more convincing to analyze the influence that state-owned cultural enterprises impact on the cultural industry. It is aimed at discovering problems and making suggestions based on the data, and helping the development of state-owned cultural enterprises and better play the leading role.
Abstract: According to China's national conditions and policy orientation, the state-owned cultural enterprises will occupy the leading role in the cultural industry for a long time, its development has become a hot spot of concern. This paper is to calculate the correlation degree between the state-owned and the non-state-owned cultural enterprises through ...
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Think of Scientific Research Management in Scientific Research Institutes in China
Li Rui,
Lv Liemin,
Zhu Yongqin
Issue:
Volume 3, Issue 5, October 2015
Pages:
654-656
Received:
3 December 2015
Published:
3 December 2015
Abstract: The scientific research is a process in which the researcher apply the scientific knowledge on the practice, and is a link between theory and practice as well. Being the main carrier, the research institutes of some scientific research institution has functions of developing science technology and servicing for society. Every institute has own administration section, which decides whether administration service level update and scientific research achievement application. In this paper, the author discusses the current administration section function based on her work experience, and on the further provides some suggestions to enhance the administration service level in scientific research institutions.
Abstract: The scientific research is a process in which the researcher apply the scientific knowledge on the practice, and is a link between theory and practice as well. Being the main carrier, the research institutes of some scientific research institution has functions of developing science technology and servicing for society. Every institute has own admi...
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