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A Study of Liquidity and Interest Spread in Nepalese Cooperative Societies
Gyanendra Prasad Paudel,
Suvash Khanal
Issue:
Volume 4, Issue 6, December 2016
Pages:
321-330
Received:
14 May 2016
Accepted:
6 June 2016
Published:
3 November 2016
Abstract: The study has inquired about the determinants liquidity risk and investment risk which are measured by liquid assets to deposit ratio and average interest spread respectively of Nepalese cooperative society. We did descriptive, correlation, and regression analysis of five year accounting data of 126 cooperatives of Kathmandu valley. The descriptive statistics show a huge gap between cooperatives with respect to size, earnings, activities, etc., and suggest that the cooperatives should be ranked and categorized according to their size so that a prompt regulation can be imposed to them. The significant positive correlation of deposit with variables such as investment, net earnings, size, liquid assets, interest earnings, interest expenses, etc. suggested deposit marketing is the most crucial instrument to build up size, to generate revenue and earnings, to increases the activities, etc. The finding from regression analysis show that the big sized cooperatives are lacking proper amount of liquidity, and suffering from liquidity risk. Moreover, the finding also suggests that strong permanent capital base have significant positive influence on adequate liquidity of the cooperatives. Similarly, cooperatives having higher credit to deposit ratio have liquidity deficit. The spread model suggests that cooperative bearing higher amount of investment risk are utilizing its assets efficiently, and holding an adequate amount of long term source of fund. Similarly, a big sized cooperative has abided with lower degree of investment risk.
Abstract: The study has inquired about the determinants liquidity risk and investment risk which are measured by liquid assets to deposit ratio and average interest spread respectively of Nepalese cooperative society. We did descriptive, correlation, and regression analysis of five year accounting data of 126 cooperatives of Kathmandu valley. The descriptive...
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Empirical Research on New Stock IPO Excess Returns of the Shadow Shares Behind
Huang Yu Cheng,
Zhang Fei
Issue:
Volume 4, Issue 6, December 2016
Pages:
331-336
Received:
2 November 2016
Published:
3 November 2016
Abstract: In China's securities market, "shadow share" is the phenomenon of frequent speculation. Based on the present situation, this paper makes systematic empirical research and tracking on the excess return of "shadow share", And explores the underlying causes of excess returns. Basically, by selecting 89 samples of different plate and market environment, this article studies the cumulative abnormal return (CAR) and abnormal average return (AR) of "shadow share", And draw the following conclusions: In main board and GEM market, the cumulative abnormal return (CAR) of "shadow share" is positive, however, in small and medium board, it becomes negative; In choppy market and rapid declining market, the cumulative abnormal return (CAR) of "shadow share" is positive, while it becomes negative in accelerate rising market.
Abstract: In China's securities market, "shadow share" is the phenomenon of frequent speculation. Based on the present situation, this paper makes systematic empirical research and tracking on the excess return of "shadow share", And explores the underlying causes of excess returns. Basically, by selecting 89 samples of different plate and market environment...
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Evaluation Model of Venous Industry Park Location Based on Fuzzy Analytic Hierarchy Process
Issue:
Volume 4, Issue 6, December 2016
Pages:
337-343
Received:
2 November 2016
Published:
3 November 2016
Abstract: Vein Industry park location is a significant aspect of the circular economy system. Thus we need an appropriate method. In order to solve this issue, Analytical Hierarchy Process (AHP) method and fuzzy analytic hierarchy process were combined to establish an evaluation system in this paper, which has higher application value.
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Capital Market Investors’ Attitudes in Bangladesh: Evidence and Policy Implications
Kazi Mostafa Arif,
Md. Alamgir Hossain Bhuiya
Issue:
Volume 4, Issue 6, December 2016
Pages:
344-348
Received:
13 October 2016
Accepted:
25 October 2016
Published:
7 November 2016
Abstract: The aim of the study is to examine the effect of behavioral biases on stock market investors’ decision making in Dhaka Stock Exchange. We focused on three well-documented biases i.e., disposition effect, herd behaviour and gambler’s fallacy. In this study we utilized primary data which were collected through our survey questionnaire. Based on these information, descriptive statistics were employed to construct different bias grades. We explored that women do not actively participate in security market as seen on interview time although women also invest in the security market, but most of the activities in the security market are carried out by men. It is also stimulating that seventy seven percent respondents are within the economic active age group, of 30-50 years which thus indicates a positive sign of the market. Moreover, the data reveals that the greater portion of our investors are bachelor graduate. In addition to that the most of the individual investors’ experience are within 3 to 10 years. After building bias grade of the above mentioned behavioral biases it can be settled that our participants are, on average, moderately affected by behavioral biases. And lastly, a hypothesis was inspected that the behavioral biases are more obvious for less experienced investors but our results support this hypothesis weakly. As we conceive that investors do not learn from experience and perform illogically in the stock market.
Abstract: The aim of the study is to examine the effect of behavioral biases on stock market investors’ decision making in Dhaka Stock Exchange. We focused on three well-documented biases i.e., disposition effect, herd behaviour and gambler’s fallacy. In this study we utilized primary data which were collected through our survey questionnaire. Based on these...
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Inter-Organizational Trust in the Competitiveness Pole: A Theoretical Analysis
Fateh Saci,
Chaker Boughanbouz
Issue:
Volume 4, Issue 6, December 2016
Pages:
349-356
Received:
4 November 2016
Published:
5 November 2016
Abstract: Since their creation, poles of competitiveness are becoming increasingly important in speeches and research literature. They have emerged as a relevant field of study and even a daily echo in business or the general press which report about changes in management practice within these clusters. Currently this structure, which is relatively nascent, focuses on the identification and dissemination of best practices among its actors. The aim of this paper is to outline a theoretical model of integration of inter- actors within the clusters. So, in order to develop this model, we explored a wide array of literature dealing with trust, clusters, and inter-organization relations. Finally, some issues related to the empirical examination of building trust are discussed. The contribution of this paper lies primarily in its study of the concept of trust in a multilateral context.
Abstract: Since their creation, poles of competitiveness are becoming increasingly important in speeches and research literature. They have emerged as a relevant field of study and even a daily echo in business or the general press which report about changes in management practice within these clusters. Currently this structure, which is relatively nascent, ...
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A Conceptual Study on Islamic Corporate Governance Model in Curtailing Bank’s Fraud
Ali Danladi Yusuf,
Umar Ahmad,
Mohammed Shahril bin Ahmad Razimi
Issue:
Volume 4, Issue 6, December 2016
Pages:
357-361
Received:
18 October 2016
Accepted:
31 October 2016
Published:
11 November 2016
Abstract: The paper intends to discuss the concepts, framework, structure of fraud, and its two contending theories i.e. Fraud Triangle Theory and Fraud Diamond Theory. The paper also intends to analyse the concept of Islamic corporate governance, its theories and the popular theory of Shariah Enterprise Theory (S.E.T), which if properly implemented and giving a sound attention, the issue of fraud in Islamic banks will be a thing of the past. After the extend literature review this paper proposed model as re-examined by some scholars, to see whether the model is viable in today’s multi-faith, and multi-cultural society of 21th century and the likely challenges it might face.
Abstract: The paper intends to discuss the concepts, framework, structure of fraud, and its two contending theories i.e. Fraud Triangle Theory and Fraud Diamond Theory. The paper also intends to analyse the concept of Islamic corporate governance, its theories and the popular theory of Shariah Enterprise Theory (S.E.T), which if properly implemented and givi...
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Inter- Union Rivalry, Legitimacy and Union Influence on Shop-Floor Industrial Relations in Zimbabwe’s Urban Councils
Issue:
Volume 4, Issue 6, December 2016
Pages:
362-368
Received:
2 December 2016
Published:
5 December 2016
Abstract: The article examines how inter-union rivalry affects shop-floor industrial relations in Zimbabwe’s urban councils. In essence inter union rivalry destroy union solidarity and creates unnecessary competition which end up destroying effective shop-floor worker representation. In an attempt to garner membership and quest to claim legitimacy, the study reveals strategies adopted by unions, which further creates a huge rift among them. This massive competition to enhance trade union density results in unions channelling more energy on fighting each other and in the process abandoning their role of advancing worker interest. Resultantly findings reveal a weakened state of worker representation and an invisible managerial hand in trade union affairs extending the managerial prerogative. Political interference and dominance is equally witnessed. The paper recommends unity of purpose in representing mutual employee interests, as well as minimal political tolerance on union business, unconditional collaboration and willingness to compromise.
Abstract: The article examines how inter-union rivalry affects shop-floor industrial relations in Zimbabwe’s urban councils. In essence inter union rivalry destroy union solidarity and creates unnecessary competition which end up destroying effective shop-floor worker representation. In an attempt to garner membership and quest to claim legitimacy, the study...
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Research on Collaborative Design Method for Apparel Mass Customization in the Internet Plus Era
Zhang Ying,
Li Li,
Xing Xue
Issue:
Volume 4, Issue 6, December 2016
Pages:
369-377
Received:
2 December 2016
Published:
5 December 2016
Abstract: The growing accessibility of internet service, especially in the Internet Plus era, supported mass customization in the apparel industry. As mass customization emphasize on providing individually-designed products and services to meet every customer requirement, the advanced Internet-based service systems help achieve high process flexibility and integration. In this paper, we studied the triangle relations among consumer, brands’ designer, and manufacturer in collaborative design process in apparel mass-customized product development. As well as explained the advanced technologies enabling collaborative design process, such as toolkits for co-design, 3D body scanning, and CAD systems. We finally gave three feasible recommendations for apparel industry to apply mass customization strategy.
Abstract: The growing accessibility of internet service, especially in the Internet Plus era, supported mass customization in the apparel industry. As mass customization emphasize on providing individually-designed products and services to meet every customer requirement, the advanced Internet-based service systems help achieve high process flexibility and i...
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Research of Integrating RBV and TCE to Explore Outsourcing Decision of TMT
Tien-Chin Wang,
Ming-Fa Chen
Issue:
Volume 4, Issue 6, December 2016
Pages:
378-383
Received:
24 December 2016
Published:
4 January 2017
Abstract: Efficiency firms have increasingly turned to outsourcing in an effort to capture cost savings. A critique of these theories as a means of understanding the complexities of R&D outsourcing is presented. The paper has used the Resource-Based View (RBV) and Transaction Cost Economics (TCE) to examine the role of specialized capabilities as a potential source of value creation in firms. Such a study would further contribute to an understanding of the outsourcing phenomenon within firms. A research model is developed that proposes different hypotheses to test from the TCE and RBV of the firm. The main contribution of this study is the offer of a mechanism to combine both theories for the outsourcing decision. This research anticipative finding the TMT positively moderates between TCE and RBV attributes to present competence on integration is support, also indicating the decisions on outsourcing can be inherent advantages in firms.
Abstract: Efficiency firms have increasingly turned to outsourcing in an effort to capture cost savings. A critique of these theories as a means of understanding the complexities of R&D outsourcing is presented. The paper has used the Resource-Based View (RBV) and Transaction Cost Economics (TCE) to examine the role of specialized capabilities as a potential...
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