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The Economics & International Business Research Conference, Miami

South Beach, Miami, Florida

December 17 - 20 2003

All submissions are subject to a double blind review process

ISSN 1553 - 5827     *       The Library of Congress, Washington, DC

 

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The primary goal of the journal will be to provide opportunities for business related academicians and professionals from various business related fields in a global realm to publish their paper in one source. The Business Review, Cambridge will bring together academicians and professionals from all areas related business fields and related fields to interact with members inside and outside their own particular disciplines. The journal will provide opportunities for publishing researcher's paper as well as providing opportunities to view other's work.  All submissions are subject to a two person blind peer review process.

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Economic and Financial Reconstruction in Iraq

 Dr. Roger H. Bezdek, U.S. Department of the Treasury, Washington, D.C.

 

 ABSTRACT

 When hostilities ceased in Iraq in April, the Coalition was faced with the enormous task of rehabilitating the Iraqi economy, which had been devastated by three decades of misrule, exploitation, war, and international sanctions.  We discuss the efforts being made by the U.S. Treasury Department, in conjunction with the Coalition Provisional Authority, other Federal agencies, and the private sector, to rebuild and rationalize the economy of Iraq.  It is recognized that a well-functioning economic and financial system is crucial to achieving broad economic and political objectives in Iraq, and key actions were required to restore and strengthen Iraq’s financial institutions and financial markets.  A guiding principle for actions in the financial sector, as in other areas, is the need to work closely with Iraqis, recognizing that their insights and support are crucial for changes that will work and last.  Objectives and initiatives are being pursued in the areas of payment systems, monetary, fiscal, financial market and debt policy, commercial banking, and engagement with the international community on reconstruction efforts.  The basic objectives include:

 

Economic Growth In Transitional Versus Industrial Economies: A Case of the Baltic Sea Region

 Dr. Tiiu Paas and Dr. Egle Tafenau, University of Tartu, Tartu, Estonia

Dr. Nancy J. Scannell, University of Illinois at Springfield, Springfield, Illinois

 

 ABSTRACT

 This paper tests whether differences in growth factors exist between the transitional versus industrialized countries of the Baltic Sea Region. Model estimations indicate that significant growth factors are, unlike for industrial countries, in accordance with theory for transitional countries. Economic growth determinants are apparently dissimilar across the two groups. It is expected, however, that in light of ongoing processes of European integration and economic development of the transitional countries, these discrepancies will diminish.  Economic growth, albeit attributed with exacerbating income inequality and environmental harm, is one of the salient aspects of economic development and, ultimately, is assumed to promote the enhancement of societal welfare. In this paper, economic growth is understood to mean the growth of real gross domestic product (GDP) or, alternatively, the growth of per capita GDP.

 

 Developing New Markets for Turfgrass-sod in the United States

 John J. Haydu, Ph.D., University of Florida, Mid-Florida Research and Education Center, Apopka, FL

Alan W.  Hodges, Ph.D., University of Florida, Food & Resource Economics Department, Gainesville, FL

 

 ABSTRACT

 Three years of research examining market opportunities for turfgrass-sod was conducted in the eastern (1999), central (2000), and western (2001) regions of the United States.  A total of 1,248 firms, representing eight distinct Standard Industrial Classifications (SIC), were surveyed.  Data were analyzed by geographic region and type of business.  Results indicate that considerable differences exist across these categories with respect to market outlets, grass varieties used, and purchasing criteria of customers.  Market outlets have shifted dramatically in recent years from a direct selling approach (from the farm direct to the customer) to more indirect selling through large retail chains.  Major grass varieties used by consumers was largely a function of geographic location where climate restricts optimal growth, rather than problems associated with market outlets.  Primary purchasing criteria were product quality, followed by price, product availability, and delivery, although results varied somewhat by type of business.

  

A Structural Equation Modelling Analysis of Fairness Heuristic Theory

 Douglas Flint, University of New Brunswick, Fredericton, NB

Pablo Hernandez, University of Toronto, Toronto, Ont.

 

 ABSTRACT

 Prior research on fairness heuristic theory of organizational justice has shown that procedural information is used when distributive information is lacking.  This study extends consideration of fairness heuristic in two ways: By testing fairness heuristic effects across four different combinations of procedural and distributive justice; and  by testing an ambiguous distributive outcome. Structural equation modeling is used to measure the directionality of procedural and distributive justice effects.  Procedural justice is of interest to organizations because of its impact on important organizational outcomes.  These include: performance (Ball, Trevino & Sims, 1995; Gilliland, 1994; Konovsky & Cropanzano, 1991; Welbourne Balkin & Gomez-Mejia, 1995), organizational commitment (Brockner, 1992; Konovsky & Cropanzano, 1991; Schaubroeck May & Brown 1994), job satisfaction (Schaubroeck et al, 1994), organizational citizenship behavior (Ball et al, 1995), commitment to organizational decisions (Greenberg, 1994; Korsgaard, Schweiger & Sapienza, 1995; Lind, Kulik, Ambrose & de Vera Park, 1993), turnover intentions (Schaubroeck et al, 1994, Olson-Buchanan, 1996),  theft (Greenberg, 1990, 1993), and retaliation against organizations (Skarlicki & Folger, 1997). Organizational systems that have been linked to procedural justice include: Employee discipline (Cole & Latham, 1997), inter-group conflict (Huo, Smith, Tyler & Lind, 1996), institutional racism (Jeanquart-Barone, 1996), performance appraisal (Barclay & Harland, 1995), pay for performance (St. Onge, 2000), and employee benefits (Tremblay, Sire & Balkin, 2000).  There are some conditions when procedural justice is more salient than others.  Fairness heuristic theory provides an explanation for these conditions. 

 

Critique and Insight into Korean Chaebol

 Dr. Jonathan Lee, University of Windsor, Windsor, Ontario, Canada

 

 ABSTRACT

 This paper closely examines the management practices of one of Korea’s largest chaebols. Critique of this chaebol is based on interviews with number of managers still working for the company. It is clear from the discussion that there are many challenges that face the chaebols; however, these challenges are not necessarily unique to Korean chaebols.  South Korea (Korea) is the 11th largest economy in the world in terms of gross national product and 13th largest trading country as of 2002 (1). It has been and remains one of the fastest growing economies in the world. Many of the Korean chaebols or conglomerates are well known throughout the world, such as Samsung, Hyundai, LG and others. Although many consumers do not realize that they are Korean companies, some of these companies are among the world’s largest producers and exporters of memory chips, and they rank among the largest and most efficient steel manufacturers and shipbuilders in the world. These conglomerates also produce a wide range of products such as home electronics (TV, DVD, Computers, etc.) as well as mobile phones, machinery, cars, and so forth.

 

The Accounting Standards Setting Process in the U.S.:The Examination of the SEC-FASB Relationship

 Dr. Leonard Goodman, Rutgers, The State University of New Jersey, New Brunswick, NJ

David Hossain and Dr. Dan Palmon, Rutgers, The State University of New Jersey, Newark, NJ

 

 ABSTRACT

 In the U.S. there is a close relationship between the Securities Exchange Commission (SEC), a governmental agency legally responsible for setting accounting standards and the Financial Accounting Standards Board (FASB), a private sector body to whom the SEC has delegated this responsibility.   In this paper we examine the influence of the SEC on the FASB as evidenced by the first 142 statements issued by the FASB.  Minor statement, amendments and strictly technical pronouncements were omitted because of their limited exposure to the political process.   Starting with the Enron debacle, the financial press seems to be dominated by one accounting scandal after another.  With Arthur Andersen’s criminal conviction, the credibility of the U.S. accounting industry is in jeopardy.   Almost every day we read in the financial press about a new accounting scandal. These scandals led Congress to enact a new law, the Sarbanes-Oxley Act of 2002, to better govern the relationship between independent auditors and the companies they audit. This new law established an accounting oversight board, restrictions imposing limits on the consulting services that CPA firms could provide for firms they audit, and a greater acknowledgement of responsibility from company top executives for company financial information. In the USA, the governmental agency, the Securities and Exchange Commission (SEC), is legally responsible for setting accounting standards. 

 

Web Surveys: State of the Art and Future Outlook

 Pradeep K. Tyagi, Ph.D., San Diego State University, San Diego, CA

  

ABSTRACT

 Since the introduction of the World Wide Web, the number of individuals linked to the Internet has increased at a phenomenal rate. By one recent estimate, the number of the Internet surveys doubles every 100 days, and by the year 2005, one billion people worldwide are expected to be linked to the Internet (Department of Commerce, 2002). In addition, developments in the area of Internet access hardware and software have multiplied the ways in which one can reach users. Not surprisingly, these factors have generated a growing interest among researchers regarding the feasibility of using the Internet as a means of data collection and conducting marketing surveys. Given that self-administered surveys are arguably the most widely used form of data collection in organizational studies (Kraut, 1996) and are easily facilitated via such modalities as electronic mail and the World Wide Web, more attention is clearly warranted.  To date, the extant research has aided our understanding of the trade-offs between Internet and conventional surveys (e.g., between e-mail and postal surveys). As instructive as it is, this line of research has been narrow in scope, frequently limiting itself to addressing single issues such as response rates of e-mail surveys (e.g., Mavis and Bracato, 1998; Tse, 1998. The result has been a fragmented set of findings that limits our understanding of Internet surveys, particularly when a comparative assessment is needed. Missing from the extant research, then, is a more integrated assessment of Internet surveys that takes more fully into account their comparability to one another. 

 

Teaching Workloads of Finance Program Leaders and Faculty and Criteria for Granting Load Relief

 Dr. Ron Colley and Dr. Ara Volkan, University of West Georgia, Carrollton, GA

 

 INTRODUCTION

 Traditionally, teaching workloads in institutions of higher education are determined based upon types of degrees offered, accreditation status from the Association to Advance Collegiate Schools of Business - International (AACSBI), and governance characteristics (i.e., public or private).  Since public institutions are funded by state legislatures and usually operate under authoritative bodies such as boards of regents and chancellors, they have to follow guidelines for teaching activities that originate from these sources.  Consequently, it is usual to find an official maximum teaching load specified in most states. However, there are few faculty members who teach the official or maximum load.  Given expectations of research and professional service, most finance faculty members teach less than the specified maximum course load, resulting in the establishment of an average (i.e., common) teaching load that is less than the specified maximum.  Thus, in most finance units there are faculty members who may teach the maximum, common, or above or below the common load due to above or below average expectations in research and service.

  

Global Financial Integration and Formation of Clusters in Corporate Banking

 Dr. Pierre Agnes, Macquarie University, Sydney, Australia

  

ABSTRACT

 Despite the globalization of corporate banking services, multinational banks (MNBs) remain and highly concentrated among a series of world financial centers (WFCs). Within these cities, MNBs cluster in close geographical proximity to each other, forming ‘financial districts’. The paper begins by explaining the drivers that have contributed to the globalization of corporate banking services during the past two decades. Part two of the paper explains the formation of ‘financial districts’ using Porter’s framework of clusters, embellished by related literature. Lastly, this conceptual framework is illustrated by case studies of two corporate banking service industries that are based on interview data.  An important strand of research in international business and economic geography concerns the geographical clustering of firms in the global economy. While much research has focussed on manufacturing sectors, there is little research into business clusters in service industries, even though these constitute the most important growth sectors of most OECD nations and the global economy. This paper contributes to reducing this gap by discussing clustering in corporate banking.

 

Underwriter Switches by IPO Firms

 Dr. Vinita Ramaswamy and Dr. Joe Uen, University of St. Thomas, Houston, TX

Dr. David Durr, Murray Sate University, KY

 

 ABSTRACT

 Once an entrepreneur decides to offer shares of the firm to the public, they need to pick an IPO team consisting of the underwriter (the investment bank), an accountant and a law firm.  The underwriter plays a crucial role in the IPO process, stimulating the trading process, the number of shares traded and the trading price.  Companies place a lot of reliance on the underwriters, as do the investing public.  The underwriter plays a significant role in the IPO process:  The underwriter helps in the writing of the prospectus - a business document that basically serves as a brochure for the company.  The prospectus includes all financial data for the company for the past five years, members of the management team, and a description of the company’s target market and competitive growth strategy.  The prospectus is the main tool for selling the IPO stock.  The lead underwriter assembles a syndicate of other investment banks that will help sell the deal.  Each bank in the syndicate will get a certain amount of the IPO to sell.  The next step is the multi-city tour known as the road show.  The company tries to sell the IPO stock to prospective investors (usually big investment banks and investors).  The underwriter is closely associated with the road show, presenting information and gathering prospective investors.

 

Linking Market Orientation, Financial Performance, and a Customer-Based Marketing Strategy Scorecard

 Herbert V. Brotspies, Nova Southeastern University, Ft. Lauderdale, FL

 

 Abstract

 Two seminal articles in the early 1990’s developed the market orientation construct and demonstrated a positive relationship between market orientation and firm performance.  These articles have been widely cited in the literature and have served as the basis for theory building.  However, the measures used for firm performance in these articles using return on assets (ROA) or overall performance can be misleading or vague.  An alternative performance measure is suggested, marketing effectiveness, the achievement of sales and share objectives within the firm.  Further, financial measures alone are insufficient to guide future decisions or measure progress so customer based marketing scorecard is developed.  This scorecard links market orientation, marketing strategy, customer measures, and marketing effectiveness.

 

Potential Perpetrators of Workplace Violence: How many are there and what Triggers them?

 Dr. Bella L. Galperin, Rollins College, Winter Park, FL

Dr. Joanne D. Leck, University of Ottawa, Ottawa, Canada

 

ABSTRACT

 Violence in the workplace is increasing at an alarming rate. Despite the growing prevalence of workplace violence, little is known about the perpetrators of these violent acts. This exploratory study attempts to assess how many potential perpetrators are in our workforce, and what organizational characteristics, such as human resources practices and procedures, foster the creation of the violent offender. Future research directions and practical implications are also discussed. Workplace violence has become an important issue for organizations today. According to a report published by the U.S. Department of Justice, approximately one thousand employees are murdered yearly while performing their work duties (Bureau of Labor Statistics, 1999). Homicide has become the leading cause of on-the-job death for women, and the second leading cause for men. Although a great majority of workers who are killed on the job die during the commission of another offence, such as robbery, death resulting from the violent acts perpetrated by a fellow colleague is the next most common reason.  Other studies on workplace violence yield similar alarming findings (see Atkinson, 2000).

 

Swissair’s Collapse – An Economic Analysis

 Dr. Andreas Knorr and Andreas Arndt, University of Bremen, Germany

 

Abstract

 Swissair’s rapid decline from one of the airline industries’ most renowned carriers into bankruptcy was the inevitable consequence of an ill-conceived alliance strategy – which also diluted Swissair’s reputation as a high-quality airline – and the company’s inability to coordinate its own operations with those of Crossair, its regional subsidiary, efficiently. However, we hold that while yearlong mismanagement was indeed the driving force behind Swiss­air’s demise, exogenous factors both helped and compounded it. These include, in our view, first and foremost, the Swiss people’s rejection of the European Economic Area (EEA) Treaty in a 1992 referendum, Switzerland’s pro­tectionist avia­tion policy, and media failure.

 

Multiple Intelligences and Business Diversity

 Joyce Martin, Australian Catholic University, Strathfield, NSW. Australia

  

ABSTRACT

 This study tests the viability of using Gardner's theory of multiple intelligences as a structure for identifying knowledge diversity in business students and whether such knowledge increases identification of self and others as potential sources of knowledge. The results from business students with substantial work histories indicates that the Multiple Intelligence Preference Inventory gives a valid and reliable indication of their preferred intelligences and that knowledge of these results is associated with assessments of self as sources of knowledge for others and conversely, identification of others as a potential sources of knowledge. Despite the limitations of a small and interrupted sample and the need for continued refinement to items, the results are supportive of further investigations into the use of the inventory and knowledge of multiple intelligence theory not only as part of a knowledge identification and sharing program for students but also as a tool for recognizing, respecting and benefiting from such diversity in the workplace.

 

Intellectual Capital for the Knowledge Based Economy: A Theoretical Perspective

 Lynn L. K. Lim, Murdoch Business School, Murdoch University, Perth, Australia

  

ABSTRACT

 This paper discusses the importance of intellectual capital for organizations and businesses in the knowledge-based economy. Intellectual capital is seen as a new generator for the 21st century. The value creation and composite of good business performance no longer refer solely to selling products or services that customers want. Organizations and investors seek to gain returns from the investments of intangibles in a business. Intellectual capital is seen to influence shareholder value, provide a potential powerful stream of revenue, foster greater employee commitment and build strategic resources of organizations. Several researchers have suggested that the intellectual capital of an organization is the difference between the market value and the book value. Other researchers have different descriptions to represent the value of intellectual capital. This paper illustrates that the value of intellectual capital of an organization could be affected by the revaluation of assets and market fluctuation.

 

Nepotism and Influence in the United Arab Emirates

 Mohamed H. Abdullah, Ph.D., United Arab Emirates University, United Arab Emirates

  

ABSTRACT

 This paper examines the existence of nepotism and family influence upon the upward mobility in the career paths of UAE nationals in firms that are predominately owned by UAE nationals and serve principally national markets.  The paper utilizes the methodology developed by Warner and Abegglen in their study of occupationally mobility in the United States.  The questionnaire is abstracted from the relevant portion of the work and modified to fit the situation in the United Arab Emirates, e.g., specific questions about relation to and with the royal family.  The questionnaire was translated into "Gulf Arabic" and then translated back into English by another translator.  This process was continued until a translation that was accurate and idiomatically correct was obtained.  The sample consists of firms that are principally owned (51%) and controlled by UAE nationals, that distribute their products and services predominately nationally (75% of revenue from sales in UAE).  Furthermore, the sample is only of top managers, defined as the three levels below the President or CEO.  UAE, from the inception of its dramatic growth period in 1972 – which is shortly after the discovery of significant oil reserves—has sought to protect its domestic market from foreign firm domination.  Arguing the merits of this policy is not the purpose of this paper; however, suffice it to say, this is one acceptable approach to assisting in the development of the managerial expertise and human resources of an emerging country.

  

The TRIPs Agreement: Who’s in favour, Who’s Against? Evidence from the Belgian Pharma Industry

 Dr. Ilse Scheerlinck and Dr. François Van Leeuw, Vrije Universiteit Brussel, Pleinlaan, Brussell

 

 ABSTRACT

 Trade-related aspects of intellectual property rights matter for pharmaceutical firms. The managerial approach to political economy suggests that –even within the same industry – firms prefer different degrees of intellectual property rights protection, and that preferences are shaped by firms’ structures and strategies. This paper is based on two studies, the first carried out in 1996 and the second in 2003. Both studies have used the same determinants, this in order to enable comparative analysis. We empirically test what determines Belgian pharmaceutical firms’ position on the WTO TRIPs Agreement. We find that nationality, diversification, size, the share of brandname products, and R&D intensity explain a statistically significant part of the variation in firms’ positions.  The results of innovation are a public good. To encourage firms to innovate, governments or supra-national authorities assign temporary monopoly power to innovators.  The protection of intellectual property rights also has an international dimension: local protection is of little avail if competitors can copy and market a new product elsewhere; hence the demand for international harmonization.  Intellectual property rights affect a firm's strategies on international trade and foreign direct investment.  Maskus and Penubarti (1995) find evidence of the hypothesis that "[r]eturns to innovation could be influenced by variations in international patent laws, with a primary channel being decisions by firms to trade in different markets" (p. 228). Smith (1999) updated Maskus and Penubarti’s work from 1995 and found also strong evidence that protection of international property rights affects trade flows in a positive way.

  

Understanding Consumer Ethical Decision-Making in Software Piracy: A New Framework

 Dr. Fang Wang, Wilfrid Laurier University, Canada

Hongxia Zhang, Peking University, P.R. China

Dr. Ming Ouyang, University of New Brunswick, Canada

  

ABSTRACT

 Software piracy is a prevalent and serious problem in countries with different geographic locations, diverse cultural background, and various economic development stages. Software piracy is viewed as an issue of low moral intensity (Logsdon et al., 1994) due to the failure of moral related constructs to predict consumer attitude and behavior towards piracy.  Addressing problems in previous research, this paper proposes a more complete framework for consumer ethical decision making.  In the new framework, the transformation from legal problem recognition to ethical problem recognition is added to the traditional research framework and viewed as the first and important step in consumer ethical decision making in software piracy. This paper contributes to our understanding of consumer ethical decision making in software piracy and provides new ways to interpret and compare research results.

 

Enterprise IT Asset Management

 Dr. Mustafa Kamal and Russell Petree, Central Missouri State University, Warrensburg, Missouri

  

ABSTRACT

 

Enterprise wide IT asset management (ITAM) covers both hardware and software through the entire asset life cycle that include proposal, procurement, acquisition, installation and eventual disposition. ITAM plays a critical role in company’s bid to cut cost and increase productivity. As companies continue to automate, rightsize and work to retain revenue, their ability to effectively manage IT assets becomes a major factor in the success equation. An effective and long lasting enterprise ITAM solution is based on systems that is build on policies and practices of the enterprise and not a software product's “out of the box” solution. Companies must create processes that best support their strategic directions and utilize software tools that support those processes. Although ordering is a formal process, it is not uncommon to see absence of an end-to-end information system. This yields a situation where the enterprise is not sure that they are getting. Disposition is more than simply throwing the old monitor. The environmental impacts and subsequent financial consequences can be enormous. These life cycle stages have unique attributes not only by asset class, but by asset itself. Most software licenses and contracts, for example, have minimal requirements for disposition, but may require prior notice before termination.

 

Cross-Cultural Analysis on the Order of Entry Effects in Marketing

 Dr. Sungwoo Jung, State University of New York at Oneonta, Oneonta, NY

  

ABSTRACT

 From new product development to the performances of global branding strategies, national culture is gaining importance in marketing studies as a general theory. In cross-cultural analysis, however, few studies have been done regarding the order of entry effect. Using one of Hofstede’s five dimensions of cultures, This paper propose that in the long-term orientation culture, buyers’ intention to purchase early entering brands will be higher than in the short-term orientation culture.   A substantial part of marketing research and literature has focused on buyers’ perceptions of a number of potentially influential factors such as price, brands, quality. As another clue used by consumers to make judgment about product quality, order of entry has yet proven a consistent instrument for predicting their ultimate decision. The issue of whether market pioneers are more successful than later entrants is one of the most debated issues in marketing.

 

Purchasing Power Parity: Evidence from Asia Pacific Countries

 Dr. Shyam Bhati and Dr. Michael McCrae, The University of Wollongong, Wollongong, Australia

  

ABSTRACT

 Long run purchasing power parity between countries of Asia pacific region is investigated using a cointegration approach. Quarterly data on exchange rates of Australia, Indonesia, Malaysia, Philippines, New Zealand, Singapore, South Korea and Thailand are used in this study. The result provides evidence of the existence of purchasing power parity between Australia and other countries in the Asia Pacific region. We have also compared the using  CPI and WPI of these countries for the existence of purchasing power parity. We are not able to confirm if wholesale price index is a better indicator of purchasing power parity as compared to consumer price index for the countries studied. The theory of purchasing power parity (PPP) plays an important role in the determination of exchange rates. PPP explains the relation between the price levels of any two countries and the exchange rates between their currencies. Although a number of studies have been conducted, there is no agreement among various authors [Diebold, Husted and Rush (1991); Cheung and Lai (1993); Liu and Burkett (1995); Veramini (1998) and Bahmani-Oskoee (1998)] on whether PPP holds in short term or in long term. One of the significant issues that emerges from some of the country specific studies, however, is that US dollar, Japanese Yen and German Mark do not comprise an optimum currency area for testing the theory of PPP. 

 

Academic Preparation of Corporate Managers Through the Infusion of Information Literacy Programs Across Curriculums

 Larry Treadwell and Dr. Bob DeYoung, St. Thomas University, Miami, FL

  

ABSTRACT

 In that academia plays an important role in the development of business skills, the infusion of information literacy programs in all academic curriculums provides an environment where literacy information skills can be developed and tested to ensure information acquired for professional use is located and processed efficiently to make certain opportunities are not missed. This article identifies four approaches to implementing an information literacy program: (1) an information literacy mandate clearly stated through policy, (2) the creation of Librarian/Faculty liaison position(s), (3) funding for faculty to identify book/video purchases relevant to their areas of study to be used as a component  of the information literacy program and (4) the adoption of a two-pillar approach to the information literacy initiative to ensure that no group of students are excluded, and consequently, unexposed to the library and the vast array of resources available to them through the library. Academic preparation of corporate managers demands an infusion of information literacy programs across curriculums by mandating a library component in all course syllabi, thereby creating a depth and breadth in the development of business skills that instill and uphold the value of information literacy

 

Developing Scorecard in Healthcare Industry:  The Malaysian Experience

 Dr. Abdul Razak Ibrahim, University of Malaya, Malaysia

  

ABSTRACT

 This article seeks to explore the current practices of measuring performance in healthcare services. The scope of the study focuses on hospitals in Malaysia, in both the public and private sector. Generally, both the public and private sectors differ in terms of their measurement infrastructure, mostly due to the fact that these organizations have different objectives in mind. The survey also revealed that the healthcare industry in Malaysia suffers ‘myopic views’ of management. It can be seen that both sectors are over-emphasising employee productivity and under-emphasising innovation in their respective organisations.  At the end of the study, a scorecard is developed to gain insight into the measurement systems via critical success factor methodology.  The Director-General of Health points out that the healthcare industry is in its infancy, and there are so many aspects of healthcare services that need to be addressed. This is why more in-depth analysis is needed of the effectiveness of the performance measurement systems, in order to further improve the services of the hospitals in Malaysia.

 

 Revisiting Market Orientation and Business Performance Linkage: Is Relationship Marketing the Missing Link?

 Majdi M. M. AL-Khalili, Dr. Norizan Mat Saad and Dr. Ishak Ismail, Universiti Sains Malaysia, Malaysia

 

 ABSTRACT

 Previous research on Market Orientation (MO) and Relationship Marketing (RM) grow independently from each other, and little is known if these two marketing strategies can coexist together or they are conflicting. This study explores the relationship between MO and RM. It provides an extensive literature review on both of these concepts, and their impacts on Business Performance (BP), and the similarities and differences between MO and RM. Furthermore, this study introduce a new model of MO, were RM proposed as a moderating variable, namely, MO proposed as an antecedent variable to RM, and RM proposed as the main driver of BP, rather than MO. Research on Market Orientation (MO) and Relationship Marketing (RM) grow independently from each other, and little is known if these two concepts can coexist together or they are conflicting. In addition, the association between MO and Business Performance is not very clear, and the evidence that obtained in the previous research is not conclusive. This study attempts to explore the relationship between the two concepts, and to draw a link between MO and RM and how they are interrelated.

 

The Impact on Increasing Customer Network Relationship From Inter–Organizational Core Resources and Core Knowledge Strategic Alliance

 Tsai–Lung Liu, I-Shou University and Tajen Institute of Technology, Taiwan

  

ABSTRACT

 The main purpose of this paper not only attempts to review the nature of inter- organizational strategic alliance, resource-based, knowledge management, and customer network relationship but also it tries to integrate five different inter-organizational strategic alliance formation factors, such as intra industry competition degree, market demand uncertainty, task knowledge ambiguity, resource complementary, and intensive marketing degree. Furthermore, this paper endeavors to explore some research questions, such as how different inter-organizational strategic alliance formation factors impact on core resource and core knowledge strategic alliance? How core resource and core knowledge strategic alliance impact on customers’ network relationship? How different inter-organizational strategic alliance formation factors impact on customer network relationship? After drawing related variables literature review, analysis, and inference. This paper infers 13 propositions and buildups a conceptual model. Simultaneously, this paper also finds out different inter-organizational strategic alliance formation factors which have significant positive and negative influence effects on core resource and core knowledge strategic alliance, and customer network relationship. Other important propositions finding are inter-organizational core resource and core knowledge strategic alliance governance mechanisms which have maturity and more helpful increasing customer network relationship.  Under the global economization tendency circumstance, there are many different theory perspectives researchers who had devoted to explore this field study. Such as, some researchers were from transaction cost theory perspective to explore how organization adopts strategic alliance mechanism to increase asset return ratio and intra-organizational efficiency, and unit cost reduction (Hennart, 1988; Oliver, 1991; Williamson, 1981).

 

The Impact of Team Leadership on Team Effectiveness Team Social Capital and Team Diversity as Moderators

 Chia-Chen Kuo, I-Shou University, Taiwan

 

ABSRACT

 From the past-related research on team leadership and team effectiveness we have found out that there is seldom research on the internal interaction factor of team social capital. In addition, the past research only examines from a leadership perspective but also did not have a deep understanding of team operations and team performance. Therefore, we should consider this from an internal interaction relationship perspective to explore these internal interaction factors and how they impact on team effectiveness. Hence, this research will focus from leadership perspectives, and it will be categorized as transactional, transformational, and paternalistic leadership styles to examine how different leadership behavior impact team effectiveness. This research also studies team social capital and team diversity variables as moderators to examine how they impact on team effectiveness. In summary, there are four purposes of this research: 1.Research on how transactional, transformational, and paternalistic leadership styles impact on team effectiveness forecast effect. 2.Research on there three leadership behavior how to forecast team effectiveness effect and what is the strongest team effectiveness effect and what is the strangest forecast factor. 3. Research on Doe’s team social capital has moderator effect on team effectiveness. 4. Research on Doe’s team diversity has moderator on team effectiveness. In summary, related literature view, analysis, and integration, this research infers a total of 13 propositions and builds a conceptual model.  Due to knowledge of the economic upcoming generation, the twenty first century is not individualist but more collective generation. Modern enterprise has already made use of team working styles the team has becom the basic working unit of most enterprises (Drucker, 1998). As Lawler, Mohrman,& Ledfords (1995) research perspective has argued in Fortune magazine announced 68% of one thousand enterprises have adopted team working design mechanism.

 

 Golf, Tourism and Amenity-Based Development in Florida

 Dr. Alan W. Hodges and Dr. John J. Haydu, University of Florida, Gainesville, FL

 

ABSTRACT

 Settlement patterns in the United States are increasingly based on environmental, cultural and recreational amenities and the perceived quality of life, rather than economic opportunities. This is especially true for the retired population, who are not dependent upon earned income. The state of Florida has experienced very rapid growth over the past 50 years due to tourism and amenity-based development. Many residential developments now feature golf courses and other recreational amenities. Golf is a highly popular recreational sport in America, with participation by over 20 percent of the adult population. In Florida, there are currently over 1300 golf courses, more than any other state.  Golf is an important activity associated with the large tourism industry in Florida. Economic characteristics and regional impacts of golf courses in Florida in the year 2000 were evaluated based upon survey data together with other published information and a regional economic model constructed using Implan. Survey results indicate that residential developments were part of 54 percent of Florida golf courses, with some 756,000 residential units having a total value of $158 billion. Golf industry employment was 73,000 persons. The book value of assets owned by golf courses was $10.8Bn, including land (58%), buildings and installations (26%), vehicles and equipment (10%) and golf course irrigation systems (6%).

 

Self and General Manager’s Ratings of Departmental Managers’ Performance:  A Cross-Cultural Study in the Hotel Industry

 Anoop Patiar, Griffith University, School of Tourism and Hotel Management, Australia

Lokman Mia, Griffith University, School of Accounting and Finance, Australia

 

ABSTRACT

 

The paper reports the differences between hotel department managers’ self-evaluation and their general managers evaluation of their performance.  The department managers’ performance was assessed using Mahoney et al (1963) instrument consisting of eight dimensions of managerial activities and an overall performance item.  The data was gathered through a structured self-administered postal questionnaire.  The study sample included the general managers, food and beverage and rooms managers of 97 large four and five star hotels and resorts in Australia and India.  The results indicate a significant difference between superiors’ and subordinates’ evaluations of subordinates’ managerial performance.  Further analysis showed a significant gender difference in self-evaluation of the department managers’ performance.  However, in terms of the national culture, there is no difference in the performance evaluation. 

 

An Empirical Study on the Usage of Multimedia Messaging Services

 Lynn L. K. Lim, Murdoch Business School, Murdoch University, Perth, Australia

Leon Traazil, Murdoch Business School, Murdoch University, Perth, Australia

 

 ABSTRACT

 Mobile technology and personal communication have grown significantly over the last few years. Multimedia messaging service was introduced to provide mobile messaging for person-to-person. This paper discusses part of the study which aimed to understand the consumers’ intentions towards the usage of multimedia messaging service and to determine the circumstance by which consumers would accept the usage of multimedia messaging service. Data was collected from 510 participants using a survey instrument. Three out of four hypotheses were supported. The result of the study showed that there is no significant relationship between the price of handset and the intention to use MMS. However, there are significant relationships between the provision of content, universal access, network storage and the intention to use multimedia messaging service.

 

 “Economic Implications of Distance Education”

 Melissa Rene Taylor, Missouri Western State College, St. Joseph, MO

Dr. Reza G. Hamzaee, Missouri Western State College &Walden University, St. Joseph, MO

  

INTRODUCTION

 Distance education is a new, exciting, and rapidly growing field in which schools, universities, education boards, and governments everywhere are actively exploring.  Distance education is defined as “any formal approach to learning in which a majority of the instruction occurs while the educator and learners are at a distance from one another” (Verduin & Clark, 1991, p. 8).  Distance education is typically characterized as having four features (Roberts, 1996, p. 812):  (1) Teacher and learners are separated during at least a majority of the instructional process; (2) an educational organization influences the process, including some form of student evaluation; (3) educational media (technologies) are used to unite teachers and learners and to carry course content; and (4) two-way communication is provided between teacher, tutor, or educational agency and learner.  There seems little doubt that distance learning is becoming a key component of the learning environment for college students worldwide.  Because of its huge potential, colleges and universities everywhere are revising their planning to incorporate and develop computer networks, multimedia and video conferencing, and training to meet the needs of distance education.

 

Regional Comparative Advantage and Regionalization: Topology, Indicators and Models

 Dr. Charbel M. Macdissi, CEDE, University of Antilles-Guyana, Guadeloupe

 

ABSTRACT

This paper aims to study the phenomenon of regional bloc constitution. Could we conceptualise the determinants of the regional specialisation and the regional exchanges? We try to answer this question with the presentation of an analysis of a regional bloc and the concept of regional comparative advantage.  The paper presents, also, some suggestions to formalise this concept using indicators and models.  The regional co-operation or the association of regional integration offers to the countries of an area the possibility of a regionalization of their factorial endowments and their individual advantages, in order to enhance the regional specialisation and the intra regional exchanges founded on RCA(regional comparative advantage). Our purpose is to develop this concept starting with a topological analysis of a regional bloc(section 1), the bases of the regional comparative advantage(section 2) and finally some indicators(section 3) and models(section 4) in order to test this concept.   

 

Just in Time Cash Management Accounting for Corporation

 Dr. Junaid M. Shaikh, Curtin University of Technology, Malaysia

  

INTRODUCTION OF CASH MANAGEMENT ACCOUNTING IN COPORATIONS:

 Corporations today are merging and taking over smaller ones to stay competitive, resulting in huge multinational entities dominating their respective markets. Ford for example has taken over Jaguar and many other smaller car makers; BMW has bought over Volkswagen and Rolls Royce. Having a large amount of cash in a corporation also increases the possibility of another corporation acquiring it. This accentuates the importance of cash management in today’s corporate world. Having too much cash or too little could spell disaster to a corporation. In order to avoid being taken over and meeting obligations, effective cash management is necessary and critical to organizational survival.  Keeping the cash flowing is a major challenge for all small businesses. When your clients don't pay on time, a commercial credit line is a great way to keep on top of your bills. A line of credit allows you to pay your debts without falling behind. There is a catch though, you must try to pay it off monthly to avoid incurring late fees or interest charges. It's best to apply for a modest credit line. After you've paid it off in full several months in a row, ask your banker for an increase.  Right now, big and small banks are aggressively pursuing small business owners-offering them all kinds of services and discounted fees.

 

The Travel Motivation of Korean Travelers

 Sung-Chae Jung, Ph.D., Honam University, Korea

 

 ABSTRACT

 The aim of this study is to learn how the perceptual attraction preference attitudes are varied when the tourists want to choose their different travel destinations. 27 tourist attracting attributes were used for the evaluative criteria on the basis of the assumption what the importance of attributes is a measure of how desirable a tourist-attracting attribute when an individual selects a travel destination. Chi-square analysis was to apply to determine the relationship between travel characteristics and tourist attracting attributes. As a result, the importance of safety and quality of service were strongly revealed to the travelers. A considerable amount of attention has been devoted to the attributes of cost and accessibility. These findings can serve the tourist industry as a tool for decision-making regarding tourism policy activities and measures for determining priority of assignments aimed at improving elements of the tourist supply.

  

The Consumer’s Perspective on Electronic Banking: A Conceptual Framework

 Dr. Sven Kuenzel, University of Greenwich, London, UK

 

ABSTRACT

 Electronic banking is rapidly becoming a crucial delivery channel within the financial services industry and research in this area is evolving very quickly. However, recent studies have analysed mainly the relationship between the financial provider and the customer from the viewpoint of the organisation providing the service (Kapoulas et al., 2002; Harden, 2002; Durkin and Howcroft, 2003) or from the perspective of the corporate customer (O’Donnell et al., 2002; Rexha et al., 2003). The proliferation of research has conspicuously neglected a consumer perspective.  In this work in progress paper, the authors conceptualize the determinants of consumers’ adoption of electronic banking. Incorporating relationship marketing and diffusion theory into existing research on electronic banking, the influencing factors of satisfaction, trust, commitment, safety and adoption of new technology are presented. Many marketing experts have become concerned about the huge sums involved in setting up electronic banking. A better understanding of the factors that affect the adoption of electronic banking is therefore helpful in order to allocate marketing budgets more effectively.

 

Organizational Culture and Leadership: A Review of Literature and Integration of Two Models

 Melaura H. Stein and Louis Martinette, Doctoral Candidates, Nova Southeastern University, Ft. Lauderdale, FL

 

ABSTRACT

 The twenty first century has presented multiple challenges for leadership. Effective leaders understand the myriad motivational forces of those with whom they work, specifically the people, or “human factor” or the organizational culture (Deshpande and Webster 1989; Goldsmith 2002; Gummesson 1999; Morgan & Hunt 1994; Webster 1992; Shelton 1997). True leadership brings people, of all backgrounds, interests, values and cultural environments together, and provides opportunities to realize potential and goal optimization (Hesselbein, Goldsmith & Beckhard 1996). The qualities of the leader are not only the typical, demonstratable qualities of the leader, but will have to extend to the “softer” side. These are less measurable and focus on the ‘humanistic’ areas such as personality and personally held values and organizational culture (Hesselbein, Goldsmith & Beckhard, 1996).  A workforce functions without a clear picture of what it is to do will find success difficult  to achieve. Leadership challenges will have little to do with managing tangible assets and everything to do managing intangible assets and relationships (Shelton 1997).  Culture has been argued as one of the most powerful and stable forces of organizations and can influence a firm's leadership, decision making, performance, internal development, and, strategic development for the twenty-first century.

 

Variables Affecting Expatriate Success: An Australian Perspective

 Marina Sagiadellis, Monash University, Australia

Brian D’Netto, Mt. Eliza Business School, Australia

Juan España, National University, La Jolla, CA

 

ABSTRACT

 Researchers have found a high failure rate among expatriates.  Based on the literature on person-situation fit, a model of expatriate success was developed and tested.  The study was based upon a sample of Australian expatriates. The results indicate that perceived career path, willingness to relocate and nature of the assignment are the main factors affecting expatriate success.  The implications of these findings are discussed.  In today's international marketplace, successful implementation of a global strategy depends upon getting the right people with the right skills, in the right place, at the right time.  This involves the movement of people across national borders i.e. the expatriation of workers. Despite evidence of a trend towards shorter foreign assignments lasting one year or less, the majority of expatriate assignments involve displacing the worker and his/her family for longer periods (Melone, 2001). Most expatriate workers are male; only 13 percent of the total are female (Meckman, 2002). Unfortunately, many expatriates are unable to adjust to the host country.  This results in unsuccessful expatriate performance, low productivity in the overseas operation, problems with client relations, loss of market share and operational inefficiencies (Mendenhall & Oddou, 1985; Van der Boon, 2001). 

 

Is the Overshooting Effect Observable for Japan? A Cointegration Application of Autoregressive Distributed Lag Approach (ARDL)

 Dr. Chien-Chung Nieh and Yu-Shan Wang, Tamkang University, Taiwan

 

 ABSTRACT

 We employ the newly developed ARDL-ECM-MAIC bounds test (Pesaran, Shin and Smith, 2001) testing for the exchange rate overshooting phenomenon in Japan over 1986:01~2003:01.  The ARDL approach is appropriate to test for the dynamic modeling irrespective of whether the variables are I(0) or I(1).  We find the evidence that there do exist a short-run overshooting phenomenon, which implies that abnormal fluctuation of exchange rate in the presence of speculative bubble occurs during the sample period considered in Japan.  The empirical finding also provides the evidence for no existence of a long-run relationship between exchange rate and macroeconomic variables (money supply, industrial production, interest rate, and inflation rate), which rejects the Dornbusch’s (1976) stick price model of monetary approach to exchange rate determination.   Dornbusch(1976)find that the short-run real exchange rate volatility result from sticky prices and monetary disturbances and the different speed of adjustment between the commodity and financial markets. The exchange rate “overshooting” where a shock in money supply initially jumps above its long-run equilibrium and then adjusts back slowly, and the short-run movement in the exchange rate is greater than the long-run movement.  The explanations of the overshooting phenomenon vary, but most of them support that exchange rate may “overshoot” or “undershoot” in the short-run (see for example Dornbusch(1976), Driskill(1981), Bhandari(1985), Akiba(1996), Goldfajn and Gupta (2001), among others.)  But Bahmani-Oskooee and Kara (2000) find that overshooting exists not only in the short-run but also in the long run.  However, regarding the empirical literature of the overshooting in developing countries, there is still little work.

 

Fuzzy-based Inference System for Effective Interpersonal Communication

 Dr. Shalini Khandelwal and Prof. Tapas Mahapatra, ICFAI University, Gurgaon, Haryana, India

 

 ABSTRACT

 Interpersonal communication has become a complex business process due to the advent of different cultural and technological growth. The process consists of a vast array of different types of simultaneously communicated signals and many of which conflict with each other. It is, therefore, difficult to determine the precise intention and meaning of the communication, because of both distortion from environmental noise and ambivalence on the part of the sender. This paper tries to give a framework of a fuzzy-based inference system, which can be embedded in the existing information system infrastructure to provide an intuitively pleasing method of representing one form of uncertainty in the interpersonal communication so as to arrive at an exact meaning of the communication.

 

Establishing a Federal CIO: Analysis of the Forces of Influences in the Federal Decision Making Process Using the Sayre Model

 Kim Anderson, Doctoral Student, Nova Southeastern University, Ft. Lauderdale, FL

 

ABSTRACT

 The most controversial, as well as the most essential provision in the E-Government Act of 2001, was the establishment of a federal Chief Information Officer (CIO). The Act proposed to improve federal processes, citizen access to information, and government accountability. This paper explores the usefulness of the Sayre Model in identifying the forces of influence in the federal decision making process by examining the decision to establish a federal CIO. The Sayre Model provides the framework for the introduction of contemporary models that reflect current perspectives. The author found that the Sayre Model is a foundational resource for clarifying, identifying, and illustrating the forces of influence. However, it is more useful as a graphical representation of the forces of influence on the federal decision making system than as a construct for empirical research

 

Entropy and Product Life Cycle

 Dr. Kuang-Jung Tseng and Charlie H. Hua, Hsuang Chuang University, Taiwan, ROC

Dr. Szu-Cheng Cheng, Chinese Culture University, Taiwan, ROC

 

ABSTRACT

 Thermodynamics is a physical science deal with the interactions of matter and energy.  It contains the law of the energy conservation and the law of entropy that tends to increase in a closed system. The author has applied these laws to constrain the processes by which raw materials are transformed into consumable goods and the goods are distributed afterwards. The size of the sales force can be determined by introducing the temperature concept into thermodynamics to represent hot or cold consumable goods. With the concept that entropy increases in a closed system, which is similar to the distribution of consumable goods into the system, an ideal innovation of the product life cycle (PLC) can be determined.  In order to modify the phenomenon of the product life cycle, a parameterα, which relate to the management efforts as well as the development and services efforts, is introduced. As a result, the PLC curve can be manipulated due to the value of α. The parameterα is related to the product quality, sales services and the degree of newness of the application of the product.

 

Predicting Impending Bankruptcy Using Audit Firm Changes

 Dr. Yining Chen, Dr. Ashok Gupta, and Dr. David L. Senteney, Ohio University, Athens, OH

 

 ABSTRACT

 Unlike prior research, we investigate the incremental explanatory power of auditor changes beyond the information conveyed by traditional financial statement ratios in predicting bankruptcy. We find that auditor changes are important in predicting impending bankruptcy and convey important information not reflected in traditional financial statement ratios alone.  In fact, we find compelling evidence that directional knowledge regarding auditor changes such as changing from large accounting firms to small accounting firms provide incremental explanatory power in predicting impending firm failure beyond what is conveyed traditional financial statement ratios and auditor changes considered jointly.  Although the existing relevant literature provides no empirical evidence in this regard to our knowledge, this result is intuitive as one motivation for clients to change audit firms is to seek less conservative professional auditors as smaller audit firms may be as a strategic response to manifestation of the financial statement effects of bankruptcy.

 

WTO and Market Access in Non-Agricultural Products: Issues and Options for Developing Countries

 Dr. Amir Mahmood, University of Newcastle, Australia

  

ABSTRACT

 The Doha Declaration explicitly highlights the need for establishing modalities that take into account “the special needs and interests of developing and least-developed country participants”.  The developing countries expect that the new round of trade negotiations will target tariff peaks, high tariffs, and tariff escalation that have been restricting the developing countries push to enhance their export market share in world markets in general, and in developed countries in particular. There is little dispute among the Members regarding developmental intent of the above mandate, however, opinions and proposals differ on formulating modalities to implement trade liberalization measures as envisaged by the architects of the Doha Declaration.  After evaluating the post-Uruguay Round tariff and non-tariff environment, this paper analyses the implications of complete removal of quota restrictions under Agreement on Textiles and Clothing (ATC). The paper provides a comprehensive overview of costs and benefits of trade liberalization to developing countries and draws key premises to formulate a comprehensive trade negotiation strategy and a set of recommendations in order to shape developing countries stance in the on-going negotiations on trade liberalization.

 

Emerging Markets: Long-Term Relationships Among Indexes

 Lucy Amigo Dobaño, University of Vigo, Lagoas-Marcosende, Spain

  

ABSTRACT

 This paper investigates whether the United States and Spain are potential determinants of the framework for Latin American stock markets. We present empirical evidence based on a sample of daily observations that covers the years from 1999 to 2002, both inclusive. Our primary focus is on the simultaneous relationships that exist among the same ones. To verify whether long-term relationships really exist, a VAR model is also considered, following the procedure proposed by Johansen (1988), and Johansen and Juselius (1990). The results have special implications for the agents and institutions that operate at the international level, and for whom risk management is one of the main concerns in the diversification of portfolios.

 

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