The American Academy of Business Journal

Vol.  22 * Num.. 2 * March 2017

The Library of Congress, Washington, DC  *  ISSN: 1540–7780 (1540-1200)

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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 Journal 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 double blind peer review process.  The Journal is a refereed academic journal which  publishes the  scientific research findings in its field with the ISSN 1540-7780 issued by the Library of Congress, Washington, DC.  The journal will meet the quality and integrity requirements of applicable accreditation agencies (AACSB, regional) and journal evaluation organizations to insure our publications provide our authors publication venues that are recognized by their institutions for academic advancement and academically qualified statue.  No Manuscript Will Be Accepted Without the Required Format.  All manuscripts should be professionally proofread/edited before submission. After the manuscript is edited, you must send us the certificate. You can use for professional proofreading/editing or other professional editing service etc... The manuscript should be checked through plagiarism detection software (for example, iThenticate/Turnitin / Academic Paradigms, LLC-Check for Plagiarism/Grammarly Plagiarism Checker) and send the certificate with the complete report.

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Copyright © 2001-2024 AABJ. All rights reserved.

Engaged Student Learning in Social Entrepreneurship: A Nonprofit Experiential Exercise Supporting AACSB Standards

Dr. Kathryn J. Ready, Winona State University, Winona, MN



From a practical standpoint, educators strive for student learning derived from academically challenging curriculum that is both active and collaborative.  This engaged learning requires sense-making as well as activity; it is more than simply involvement or participation (Harper and Quaye, 2009).  Several definitions of engagement focus on the importance of involving and empowering students in the process of shaping their learning (HEFCE, 2008) and linking student engagement, both inside and outside the classroom, to measurable outcomes (Kuh et al, 2007; Krause and Coates, 2008).  Across a myriad of measures of reasons to engage, the majority of literature on student engagement focuses on improving student learning (Trowler, 2010). The significance of student engagement is supported by the standards for AACSB accreditation in business schools.  Accreditation requires evidence of continuous quality improvement in three areas:  engagement, innovation and impact (AACSB, 2016:  2)  Standard 13 of the AACSB focuses on curricula facilitating student academic and professional engagement appropriate to the degree program type and learning goals. “Student academic and professional engagement occurs when students are actively involved in their educational experiences in both academic and professional settings, and when they are able to connect these experiences in meaningful ways” (AACSB, 2016:37).  In order to satisfy these requirements, the overall curriculum in business schools provides a myriad of activities that support experiential learning for students and are consistent with the school’s mission.  AACSB suggests that this may include areas such as projects and experiential learning opportunities where students have opportunities to interact with faculty and business leaders to gain exposure to management in both local and national contexts (AACSB, 2016:  37). 


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Singapore’s Dominance in the Aviation Industry in South East Asia

Dr. Cindy Greenman, Embry-Riddle Aeronautical University, Prescott, AZ

Dr. Ricardo A. Carreras, Embry-Riddle Aeronautical University, Prescott, AZ



South East Asia has emerged over the past decade as one of the fastest growing aviation markets in the world.  Despite the recent economic downturn around the world, South East Asia is still achieving significant growth. With the amount of discretionary income on the rise for the people of the region, the aviation industry can expect to continue this trend. Singapore has been a leader in the South East Asian region and a leader in the aviation industry as a whole. The Association of South East Asian Nations, ASEAN, where all 10 southeastern Asian countries belong with the pursuing objective (among other specified aims, purposes and fundamental principles) of accelerating economic growth and social progress of member states through the expansion of trade, transportation and communications facilities, within a frame of close and beneficial international and regional cooperation. (ASEAN, 2015) The Asia-Pacific Economic Cooperation, APEC, where 21 selected member nations located on each side of the Pacific Ocean, established in order to leverage a sustainable and integrated economic growth for the peoples of the region, by collaborating effectively in the greater use of the primary economic activities, and by expanding trade, improving transportation and communications facilities in order to raise the standards of living of peoples of member countries. It also promotes investment in goods and services across borders through the facilitation of trade and the alignment of regulations and standards across the region. (APEC, 2015). As a participant in these two regional memberships, this research paper focuses on an analysis of the aeronautical industries of Singapore and its overall economic impact on that country.


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Building the Leadership Bench: An Empirical Assessment of the Relationship between

Retirement and Internal Job Promotion within the Federal and Private Sector Organizations

Dr. Osman Masahudu, Colorado State University-Global Campus, CO



The objective of this study was to determine the correlation if any between internal job promotion and retirement within the federal and private sector organizations. Sample was selected through systematic random procedure and data was collected using self-administered questionnaires from a population and sample size of 250 and 101 respectively.  Data was analyzed using descriptive analysis to describe demographic profile of respondents;  Pearson product moment correlation was used to test the relationship between the dependent (internal job promotion) and independent (retirement) variables. The results indicate a significant negative relationship between internal job promotion and retirement as a result of higher p-value (p>0.05; r=0.009; r-square = 0.000, p-value = 0.929). This means as older and experienced employees retire, internal job promotion is less likely as indicated with higher p-value. The negative slope of the coefficient indicates that an increase in retirement does not correspond with an increase in internal promotion. Employees seeking promotion may have to look elsewhere or sharpen their leadership and technical skills to prove that they are change agents. innovative and change management oriented organizations are more likely to look outside for new or different skill set to fill internal positions  created as a result of retirement.  Relying on retirement for promotion opportunities internally may seem bleak for some employees both within the federal and private sectors. It is important for employees to focus more on sharpening their skill sets either managerial or technical for potential promotion and career advancement; rather than hoping for someone to leave the organization for them to get promoted. The number of people eligible to retire but have consistently postponed their retirement has decreased significantly since 2012.


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Legal Professional Privilege and the Australian in-house Lawyer: A Review of the Current Law

Carlo Soliman, LLM, Senior Lawyer and Law Lecturer, Sydney City Law School,

Victoria University, and Australian Institute of Professional Education, Sydney



Legal professional privilege is an important common law right and its retention is vital for the proper administration of justice. The application of the doctrine to corporations and their legal advisors remains a complex and vexed area. The multiplicity of roles commonly occupied by in-house lawyers in an organisation and the potential for the conflation of functions has raised some concern. For example, the level of independence required by an in-house lawyer before their advice can be the proper subject to a claim for privilege. However, what is needed is greater clarity on the role of the in-house lawyer, particularly in light of other professional duties that such a person may hold as this inherently impacts on whether there is a proper entitlement to claim privilege. This paper discusses legal professional privilege in the context of the in-house lawyer, surveys selected applicable cases and considers the retention or abrogation of privilege. The doctrine of legal professional privilege represents an important cornerstone of the Westminster common law system where a client can repose trust and confidence in their legal representative.  Broadly, it protects from disclosure to third parties communications between a lawyer and their client as a well as communications prepared for the dominant purposes of current or anticipated litigation.(2) Whilst previous research by this author has reviewed privilege in its general operation, the context of the doctrine in relation to the corporate client and in-house legal practitioners was given little attention. Indeed, the position of these latter categories of claimants is traditionally more nebulous as the boundaries of the client-legal practitioner relationship are often harder to define precisely. Whilst the position of the in-house lawyer is often described as unique,(3) it poses a number of challenges. 


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A Methodology for Quantifying General Damages Due to Injury

Dr. John E. Knight, University of Tennessee at Martin, Martin, TN



When physical injuries occur to someone as a result of an industrial accident or of someone else’s negligence, various damages may be claimed.  Compensatory damages can be either special damages (damages that can be quantified) or general damages (damages associated with pain and suffering, loss of consortium or mental anguish).  In this paper, a rationale for quantifying time loss due to injury is developed in an effort to make the results of the non-vocational additional time and work a quantifiable value.  A methodology will be presented that uses industrial engineering principals and time life data to provide a quantitative value so that a request for specific monetary damages can potentially be sought.  As an example,  additional time imposed losses such as prosthesis attachment several times per day (extra time and work) require specific time and work.  As such, a plaintiff could make a case for a loss of discretionary time and actual physically imposed work due to the injury.  Additionally, many other simple tasks like rising from chairs, using crutches or wheelchairs can create extra work and time loses.   This paper explores a specific methodology for quantifying the associated work and time loss associated with physical injuries.  Basically, a control group of uninjured individuals are tested performing a sample variety of everyday tasks and compared against the times for the injured individual.   Then, utilizing a real or hypothesized daily activity schedule, the increase in time required to perform necessary tasks is formulated. 


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Capital Market Integration

Dr. David Morelli, University of Kent, Canterbury, Kent, UK



US investors looking to invest in European markets will be affected by the extent of integration between the US and European markets.  This paper examines the extent of integration between the capital markets of the US and four of the largest European economies namely, France, Germany, Italy and the UK.  Integration is tested by examining a US-European country multifactor asset pricing model. The results show common risk factors are found to be priced between the US and all four European markets, implying the existence of integration.  Investors are always seeking to achieve the highest return per unit of risk. From the point of view of an US investor, exposure to national systematic risk within the US can be reduced through international diversification by investing in capital markets outside the US. European markets allow investors to benefit from the advantage brought about through international diversification. Clearly, the diversification benefits to US investors investing in European markets depends upon the degree of integration between the US and European markets. Early studies by Gultekin et al. (1989), examining the US and Japan, Korajczyk and Viallet (1989) examining the US, Japan, France and the UK failed to find integration between these markets.  Later studies by Heston et al. (1995) examining Europe and the US, Cheng (1998) examining the UK and US markets, Swanson (2003) examining Japan, Germany and the US, and Morelli (2010) examining the European markets produced evidence in support of capital market integration.  This paper examines whether the US capital market is integrated with the capital markets of the four largest European economies, namely, the UK, Germany, France and Italy. 


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The Impact of Control Variables on the Interrelation between Passenger Loyalty

Programs and Airline Customer Retention

Mark Wever, University of Latvia, Riga, Latvia



The influence of frequent flyer programs on customer retention in the airline industry demands further research. While previous studies indicate that airline loyalty is positively affected by frequent flyer programs, air flight ticket prices, national carrier status and perceived reputation (Dolnicar, Grabler, Grün, & Kulnig, 2011, p. 1020), the influence of loyalty programs on customer behavior can prove to be limited in its short- and long-term effectiveness among frequent service users, even though these programs can increase brand patronage levels, especially for low frequency service users (Liu, 2007, p. 19). Despite the widely held theoretical assumption that customer loyalty programs significantly affect consumer behavior, the empirical evidence demonstrating the effectiveness of loyalty programs is relatively scarce, contradictory and inconsistent (Bolton, Lemon, & Verhoef, 2004, p. 271). Insufficient research exists concerning customer behavior vis-à-vis alternative choices, such as between competing service providers (Meyer-Waarden, 2008, p. 88). The existence of loyalty programs at both low cost and full service carriers makes it important to pay research attention to the factors that affect customer retention in the process of decision making in the airline industry. Nonetheless, customer loyalty and frequency reward programs have long been recognized as important drivers of customer retention and purchase likelihood. Especially with respect to customer loyalty, statistical modeling results have shown that the impact of frequent flyer programs on airline choice is complexly related to other factors across different market segments.


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New Life For Old Theories – Integrating Management Theories Within A Meta-Model

Dr. David A Robinson, RMIT Asia Graduate Centre, RMIT University, Vietnam

Dr. W. Arthur Morgan, RMIT Asia Graduate Centre, RMIT University, Vietnam

Dr. Trung Quang Nguyen, RMIT Asia Graduate Centre, RMIT University, Vietnam



Some management theories never die, they just get old and lose their faculties often becoming distorted by the increasing number of ways and contexts in which they are explored. It is a truism that some management theories do not stand the test of time and in so doing are destined to be nothing more than a passing fad and quite rightly should be allowed to pass away quietly. It is not unknown for the proponent of a particular ‘hot’ theory to make considerable financial gains from the sale of books, guest lectures and the production and sale of self-help paperbacks of the type often found in airport bookstores and as such it might be argued they bring the common man into contact with theories that as a matter of a daily lived organisational life they would never have encountered otherwise.  This paper seeks firstly to establish the difference between a ‘fad’ and a ‘theory’ and then poses the questions: Can some management theories be combined to form a meta-model, thereby providing a firm foundation for the building of an effective business?  A management theory has been described as a “collection of ideas which set forth general rules on how to manage a business or organization (Business Directory; online, n.d.). Typically, a management theory is aimed at helping managers to understand organizational dynamics, particularly to motivate employees to achieve goals. In contrast, a fad is described as ‘a desirable trend characterized with lots of enthusiasm and energy over a short period of time (Business Directory; online, n.d.).  A meta-theory has been defined as a theory concerned with the investigation, analysis, or description of theory itself (Webster; online, nd).


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A Study on Skills Development and Employment Support  Policies for Multi-culture Family in Korea:  

Focused on Married Female Immigrants

Dr. Namchul Lee, Korea Research Institute for Vocational Education & Training, Korea



This paper has been written to analyze the current status of economic activities, and to suggest improvement plans and policy tasks for skills development and employment for married female immigrants in Korea. A range of methodologies was adopted to fulfill the purposes of the study, including a literature survey, an analysis of related material, experts’ conferences, an interview survey, and a policy forum.  Various policy implications for skills development and employment support policies for married female immigrants in Korea are discussed. These include policy reform for the stable resettlement of married female immigrants, reinforced support for vocational training and job creation, reinforcement of elementary workplace culture education for adjustment to working life, start-up assistance for multicultural families and personalized start-up education courses for married female immigrants, reinforcement of ties with related organizations to support vocational training and job creation, active employment guidance, support for job-seeking activities and follow-up management after employment (End). As Korea's population becomes more multicultural with a steady influx of foreigners, Korean society is facing the prospect of becoming more ethnically diverse. Foreigners account for just 3.1 percent of the population in Korea in 2016 but the number of foreigners residing in Korea is soaring every year. The foreign resident population of 540,000 in 2006 became 1.74 million in 2015, a 322 percent increase (Ministry of Security and Public, 2015). Forty-two percent of those who have migrated to Korea to get a job are women from developing Asian countries. This is now the most dynamic form of permanent migration to Korea. Half the permanent migration to Korea in recent years has been due to marriage. In 2007, Korea’s Multicultural Families Support Act came into force and led to the opening of multicultural centers around the country.


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Examining the Interest Rate Parity between U.S. and Japan

Dr. Joseph Cheng, Lingnan University, Hong Kong

Dr. Abraham Mulugetta, Ithaca College, Ithaca, N.Y



In this paper, the characteristics and the dynamics of the interest rate parity between the U.S. and Japan, as reflected by the Eurodollar and Euroyen futures markets, are examined.  In an efficient market, the interest rate parity residual, as defined by the difference between the Eurodollar rate and the Euroyen rate plus its forward premium, have a theoretical value of zero.  Using daily closing prices for the Eurodollar, Euroyen, and the Japanese yen futures, it is found that the interest rate parity do not hold in absolute term.  Specifically, Japan has a higher rate than the U.S. even after adjusting for the currency return or forward premium.  Such disparity is likely to be due to default risk differential.  Furthermore, it is found that the disparity tends to converge to some normal or equilibrium level rather than moving in a random manner. This implies that even if the interest rate parity does not hold in absolute terms, it still might hold in relative terms over time. It can be inferred that the parity condition may not be true to covered interest arbitrage conditions as capital flow disruptions phenomenon occur as have been witnessed since the Great Recession. The pervasive quantitative easing, interest reductions and expansionary economic stimuli put into effect by Japan and USA to raise economic performance have relatively differing impact on the economic growth of the two economies. In general, it can be argued that the tenuous parity relationships of exchange rates’ determinations that are entertained during normal economic conditions have been tested since the Great Recession. The unfolding global economic environments, the divergent monetary policies of the Fed, ECB and Bank of Japan as well as Brexit are adding to possible distortion in exchange rate determinations. The enhanced volatility of exchange rates triggered by differing economic performances and relatively different economic tools used by different nations should make the determination of equilibrium exchange rates much more difficult.


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Texas Versus the EPA:  The Showdown at the No Way Corral

Dr. Laura Sullivan, Sam Houston State University, TX

Dr. Joey Robertson, Sam Houston State University, TX

Anthony Sullivan, Attorney at Law



In Massachusetts v. EPA the United States Supreme Court held that the EPA had statutory authority to regulate greenhouse gases (“GHG”).(1)   In order to regulate under the Clean Air Act (“CAA”) requires a finding by the EPA that such gases endanger public health or safety (an “endangerment finding”).(2)  But the EPA never properly explained the potential consequences of an endangerment finding for GHG, thus this holding opened up an array of consequences based on what actions were undertaken by the EPA.  Notably, the holding in Massachusetts v. EPA did not compel the EPA to make an endangerment finding for GHG.(3) In fact, the EPA for years took the position that GHG’s were not pollutants and therefore did not endanger public health or safety. The Massachusetts v. EPA Court rejected this conclusion.    But, after the election of Barack Obama as president in 2008, the EPA became much more active and aggressive with regards to environmental issues.  On December 7, 2009, the EPA finalized its finding under the CAA that GHG’s in the atmosphere endanger both the public health and the environment.  This finding has come under much scrutiny.  Previously, endangerment findings were limited to substances that have a direct impact on public health.  But here, the link is much more suspect—GHG’s cause global warming and global warming can have a negative effect on public health.  This new endangerment finding has far-reaching effects, notwithstanding certain politicians’ statements to the contrary. 


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Traditional and Emerging Variables Impacting Saudi Arabia’s Marketing

Dr. Maja Zelihic, The Forbes School of Business at Ashford University, CA

Dr. Richard Murphy, Jacksonville University, FL

Dr. Crystal Makowski, University of North Florida, FL

Muhannad Alharbi, Jacksonville University, FL



The authors present an exploratory study on the differences between marketing in the United States and Saudi Arabia. When one compares marketing efforts of any two regions, several variables need to be taken into consideration: cultural, geographic, and consumer need differences. At times, dominant country religious differences are needed to be considered when one deals with the country without of division of “church” and state, including lifestyle and mindset differences. Considering the complexities and several layers of cultural, socio-economic, and lifestyle differences, between the two studied regions, any direct comparison may prove quite challenging. The complications arise since the target consumers of each country are different, in both their demands and expectations; therefore, customized methods must be used to reach the consumers. Different marketing methods stem from differences and uniqueness of each culture. Each of these countries has a unique culture, and different marketing needs to fulfill cultural and lifestyle needs. (Ali, 2009). Different marketing tools ensure that each company achieves various goals and objectives in any given location. Saudi Arabia has specific formal and informal regulations that control the process of marketing in the country. This study aims to discover main differences between marketing efforts of Saudi Arabia in comparison to its US counterpart.


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One Should Never Assume: The Limitations of Recovering Attorney’s Fees in Texas

Arfeo Yllana, Thompson Coe Cousins and Irons

Dr. Diana Brown, Sam Houston State University, TX

Dr. Laura Sullivan, Sam Houston State University, TX



Attorney’s fees are a common component of a plaintiff’s damage model in commercial litigation. However, in Texas, litigants may only recover attorney’s fees if specifically provided for by statute or contract.  Recent case law makes it clear that, for years, many Texas attorneys and judges may have misinterpreted a vital provision of the Texas Civil Practice and Remedies Code. Plaintiffs in breach of contract lawsuits governed by Texas law commonly seek attorney’s fees under the Texas Civil Practice and Remedies Code (hereinafter, “Chapter 38”). (Tex. Civ. Prac. Rem. §38.001). A number of Texas statutes authorize recovery of attorney’s fees in lawsuits under specific circumstances, but the text of Chapter 38 offers a “catch all” that seemingly applies to any lawsuit based on the breach of an oral or written contract:  Sec. 38.001.  RECOVERY OF ATTORNEY’S FEES.  A person may recover reasonable attorney’s fees from an individual or corporation, in addition to the amount of a valid claim and costs, if the claim is for: rendered services; performed labor; furnished material; freight or express overcharges; lost or damaged freight or express; killed or injured stock; a sworn account;  or an oral or written contract. Chapter 38 replaced a similar provision in Article 2226 of the Texas Revised Civil Statutes (“Article 2226”) that allowed for recovery of fees against a “person or corporation.” (Tex. Rev. Civ. Stat. Ann. Art 2226, 1979).  The prevailing case law interpreting Chapter 38 and Article 2226 found that recovery of fees did not apply to defendants that were governmental entities, with few exceptions.1  Until recently, most cases involving Chapter 38 assumed that the recovery of fees under Chapter 38 was applicable to limited liability companies (“LLCs”), general partnerships, limited partnerships (“LPs”), and limited liability partnerships (“LLPs”).2 


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Index: The Library of Congress, Washington, DC:    ISSN: 1540 – 7780

Index: Online Computer Library Center, OH:   OCLC: 805078765 

Index: National Library of Australia: NLA: 42709473

Index: Cambridge Social Science Citation Index, CSSCI.

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