European Journal of Economics, Finance and Administrative Sciences

Issue 63
February, 2014

Strategic Marketing to Increase the Effectiveness of Export Product and Services in Jordan (Case Study)
6-19
Burhan M Alomari, Amal Yasin Al-Majali, Farouq Ahmad Alazzam and Heba Jubran Saleh Sunna'a

Abstract:
This research is studying the basic requirements of the strategic marketing of the export product to increase the effectiveness in the field of organizations that operate in this area. However, this study differs from previous studies are as follows: 1. Consider the comprehensive range of factors that affect the efficiency and effectiveness of strategic products export. 2. Identify the most important determinants of the increase in marketing exports, which include (Product adapt - adapt a political promotion strategy - to support local and foreign distributor - sharp price competition). 3. Determine the internal forces acting on the effectiveness of the export process, such as product and strategic advantages for both companies and this product, in addition to the cultural characteristics of the product. As well as identify external forces affecting the effectiveness of labor export, such as the characteristics of both the industry and the export market in addition to the habitual customers in the export market the brand, in order to increase the rate of its exports and achieve its goals of economic efficiently and effectively, and at the same time help transform the community level development to the level of economic development and better and stronger. This research consider some important information about the export companies in Jordan, the way of evaluating the information according to the research questionnaire using , using the statistical analysis of Ca 2 Chi-square and uses this analysis to determine the extent of moral relationship between the efficiency of export and factors affecting the efficiency of export, as it is evidenced by statistically significant relationship acceptance levels spirits up to 5% in this research, the ratio is acceptable, especially in such research.the linear correlation coefficient to measure the degree and strength of the relationship between efficiency and factors affecting export.Of m multiple regression in order to test the proposed model.
Keywords: Strategic, Marketing, Export Product, Services, Organization

A Study of Liquidity in the Taiwan Stock Market during Finance Crisis from 2007 to 2011
20-34
Nguyen Truong Son and Van-Hai Hoang

Abstract:
Liquidity is an important factor in financial markets from the previous researchs. The objective of this paper was to contribute to determine the quantitative impact of liquidity factors in Taiwan stock market. To reach this purpose, a unique data-set was used to study liquidity effects in Taiwan stock market, covering more than 1,340 stocks from 2007 to 2011. This study’s analysis explores time-series and cross sectional aspects of common stock returns, with the main focus on the quantification of the impact of liquidity factors. From the results, A wide range of liquidity measures was employed, though this study’s time series regression analysis found out that liquidity effects account for approximately 16% of the explained market-wide daily stock returns. During the periods of crisis, the economic impact of the liquidity measures increases significantly. In addition, the cross-sectional analysis based on Fama-Macbeth regressions shows that liquidity explains an important part of the variation in daily stock return across stocks. These results provide important insights regarding the liquidity drivers of daily stock return, particularly during the periods of crisis.
Keywords: Illiquidity, Liquidity Measures, Taiwan Stock Market, Debt Crisis.

The Effect of Current Ratio on Jordanian Real Estate Sector’s Net Profit Margin
35-39
Lina Warrad

Abstract:
Liquidity ratios are employed by analysts to determine the firm’s ability to pay its short-term liabilities. The current ratio is one of the vital liquidity ratios which companies should maintain as a measure of margin of safety, on the hand, earnings more and more income is the main concern of any firm in order to enhance its stakeholders’ wealth. This study aims to investigate the effect of liquidity through current ratio on profitability expressed by net profit margin. A simple liner regression used to cover a period from 2005 to 2008, to test the extent that the current ratio effect net profit margin among Jordanian Real Estate sector. The study led to the result that there is no significant effect of current ratio on net profit margin among Jordanian Real Estate Sector.
Keywords: Net Profit Margin, Current Ratio, Amman Stock Exchange (ASE).

Analysing the Work Place Attendance and Remedies to Overcome Absenteeism Issues in Industries
40-46
Venkatesh. J, Sethuram. S and Aarthy. C

Abstract:
In this study we investigate the workplace attendance and factors related to cause for absenteeism and strategies to overcome such cause. The factors are classified as individual factors, organizational factors and societal factors. The factors are analyzed and the remedial measures for the cause of absenteeism are discussed. Absenteeism has a material effect on the bottom line of most companies, yet few managers really understand the magnitude of the problem at their company. Workplace absenteeism can for example also be reduced by making changes in the provisions of the social security system. A company can also try to reduce workplace absenteeism by tightening up procedures relating to control of absenteeism and by intensifying checks on absent employees. However, in this study the emphasis is on workplace absenteeism and the effect of such problems among employees and by tackling the underlying causes by suggesting various solutions the workplace.
Keywords: workplace, Absenteeism, Individual Factors, Life Style, Attendance Policy.

Consumer Perception of Private Label Brands (PLBs) in Organized Retail Outlets in Chennai, Tamilnadu - An Empirical Investigation
47-53
K.R. Mahalaxmi and A. Velanganni Joseph

Abstract:
The Indian retail industry is one of the fastest budding industries in India, especially over the last few years. It contributes 10 to 11 % of the GDP and 8 % of employment. Private label brands which were first introduced over 100 years ago in few product categories, had seen an impressive growth in past few decades. The early growth of private label brands in India has been limited to certain categories like grocery and apparel; it is gradually expanding into other categories as well. Initially the private label brands being developed as a low-priced strategy to compete with national brands. But the situation has been now been changed and now it is in a position to compete with national brands. In this study it is examined the various factors influencing consumers perception towards Private Label Brands in Organized retail outlets in Chennai, Tamilnadu. The research design chosen for the study is descriptive. A survey instrument was developed based on previous studies done on consumer’s perception towards private label brands. Convenient sampling has been employed with the questionnaires being collected from 352 respondents. The study was carried out in Chennai city, South India. Primary stage sampling units were the persons shopping in hypermarkets. Data was collected from consumers shopping in two leading hypermarkets in Chennai, Tamilnadu. Based on the test results some of the relevant findings were derived that will be relevant to present Indian scenario.
Keywords: Private Label Brands, Retail, Perception etc.

Determinants of Nonperforming Loans in the Commercial Banks Operate in Palestine
54-64
Mansoor Maitah, Luboš Smutka, Khaled Zidan and Eldeeb Ali

Abstract:
Granting loans and credit facilities is considered as the main function of commercial banks in terms of providing liquidity to their clients on one hand, and achieving a sufficient profit for themselves on the other. In the credit facilities offered by the banks, when clients fail to pay their obligations, banks are exposed to non-performing loans. To achieve the purposes of this study the researchers designed a questioner distributed to the population of the study which represent all credit managers and analysts in credit facilities administrations at Palestinian Commercial banks. The findings show that Bank's operations results as well as clients are affected by circumstances and different environmental conditions surrounding them, inadequate delegated authority to branch managers of commercial banks, weakness in the control systems applied, which reflects a weakness in the function of regulation of commercial banks.
Keywords: Palestine, Nonperforming loans, Bank Specific factors, Business environment.


Linear Programing Approach to Portfolio Management in Banking Industry (A Case Study of Zenith Bank Plc)

76-86
Salami Akeem Olanrewaju

Abstract:
Portfolio is a term commonly used to describe the allocation of funds among investment alternatives. When applied to commercial banking, it refers to the distribution of available resources among security investments, loans and other assets. A portfolio may be managed primarily to maximize or more correctly to optimize income. The linear programming (LP) approach is used in this study to solve problem arising from portfolio management. The main objective of this study is to demonstrate the applicability of linear programming techniques to bank portfolio management, with special reference to Zenith Bank PLC. Specifically, the research was undertaken so as to have a deep insight into how profit is maximized using linear programming technique. The analysis focused on the portfolio investment of Zenith Bank PLC as presented in the bank annual reports over the periods of 2008 to 2012. The linear programming maximizing technique was used to analyze the data through simplex methods algorithms. One objective function and fourteen (14) constraints were analyzed and solved using Lindo computer software programme. The optimum profit was determined to be N200,023 millions and only decision variables X4 (N540,602 millions) and X7 (N279,042 millions) contributed to the attainment of this optimum profit. The findings thus provide bright prospects for Zenith Bank to improve its portfolio management using LP technique without contravening any of the Central Bank of Nigeria’s regulatory guidelines.
Keywords: Portfolio Investment, Profit Optimization, Bank’s Credit Management.

Institutional Activism Incidence on Firm Performance: Case of French Companies
87-100
Aymen Habib and Ayman Ajina

Abstract:
This study aims at clarifying the impact on French listed companies’ performance. In this regard, a new typology of institutional investors is proposed according to their active or passive behavior and the factors’ effect. Our results support a significant impact of institutional investor’s behavior on corporate performance. Indeed, a reduced level of institutional investor’s participation on company associated with a negative effect on corporate performance. We also note that there is a non linear relationship between institutional ownership and firm performance.
Keywords: Institutional Investors-Typology-Activism-French companies-Performance.

Application of the Global Innovation Network Concept for the Russian – European Cooperation
101-111
Mikhaylova A. A and Mikhaylov A. S

Abstract:
The article discusses an important issue of Russian integration into the global network cooperation in innovation. The first part of the study addresses differences in types of knowledge flows between the country of the firm-innovator and the host country. Three main directions of globalization of innovation are identified. Each of the given cases provides insights on the possible forms of cooperation and the degree of codification of new knowledge arising within the framework of the innovation process. The second part of the article is devoted to global innovation network (GIN) concept, which combines all three types of globalization of innovation. The characterizing features of GIN are highlighted. The key reasons for its formation are examined. The third section reflects research results on the degree and directions of integration of Russian companies in the world economic processes. The most promising areas of innovation networking are given. The factors contributing to the development of Russian-European cooperation network as a first step to enter the world arena and integration into global innovation networks are defined.
Keywords: Global innovation network, globalization of innovation, network cooperation.
JEL Classification Code: R11, F23, F63

Does Capital Structure Effect on Firm Performance: An Evidence from Turkey
112-125
Famil Samiloglu and Hasim Bagci

Abstract:
This paper examines the capital structure and its effects on the profitability of Turkish manufacturing firms listed on the Istanbul Stock Exchange. A sample of 30 Turkish firms listed on Istanbul Stock Exchange for a period of 9 years from 2004-2012 was selected. Performance is measured by return on asset, return on equity and net profit margin. Determinants of capital structure include short-term debt to total capital, long-term debt to total capital and total debt to total capital. The control variables consist of firm size and sales growth. Panel data and multiple linear regression models have been used to find out the relationship between capital structure characteristics and company performance in the context of Turkey. The findings of this paper show a significant and negative relationship between short-term debt to total capital and profitability, long-term debt to total capital and profitability and total debt to total capital and profitability in the manufacturing industry. On the other hand, the study shows that there is a positive relationship between firm size, sales growth and performance of manufacturing industry.
Keywords: Capital Structure, Financial Leverage, Profitability, Istanbul Stock Exchange.

An Empirical Study on Effectiveness of Performance Appraisal System in Medium Scale Enterprises at Tiruchirappalli - Tamilnadu
126-132
M. Kathiravan and K. Karthikeyan

Abstract:
Performance Appraisal System is a systematic concept for understanding & improving the employee’s performance in the organization. In today’s organizations, the appraisal system plays an important role regarding the promotional activities of the employee’s performance. This study was carried out to find out the major factors that influence the performance of employee’s in three leading medium scale enterprises at Tiruchirappalli. The research design chosen for the study is descriptive. The primary data was collected through a self administrated questionnaire which was originally developed for this purpose. Twenty questionnaires were distributed for the purpose of pre-testing the questionnaire's contents. Random sampling using lottery method has been employed with the questionnaires being collected from 115 respondents. The respondents were asked to rate their degree of agreement using a 5-point Likert scale. Amongst the reliability tests that were run, the minimum value of coefficient alpha (Cronbach’s alpha) obtained was 0.831. This shows that the data has satisfactory internal consistency reliability. Using Statistical Package for Social Science the following tests were carried out 1) Factor analysis 2) Multiple Regression. Some of the relevant findings were derived that will be significant and relevant to present Indian scenario.
Keywords: Performance Appraisal, Medium Scale Enterprises, Motivation.

Multidimensional Poverty Measurement and Targeting in Nigeria: Evidence from Demographic and Health Survey
133-140
Peter N, Denis N. Yuni and Chukwuedo S. Oburota

Abstract:
This study proffers a proper multidimensional poverty targeting in Nigeria. The study employs the 2008 Demographic and health household survey data, with the use of the Principal component analysis (PCA) and the FGT index. The findings show that the worst dimension of poverty in Nigeria is nutritional poverty with about 88.7% of the population being nutritional poor, closely followed by asset poverty (76.6%) and then literacy rate with the least being health poverty of 26.3%. The northern regions seem to be poorer based on asset, educational and health poverty dimensions with the north east and north west being the highest in these regions. In terms of religion, the Islam and traditional faithful were poorer in almost all the dimensions, than the Christians in general. And male headed households have higher proportion of poverty for health, nutritional and educational poverty, while the female headed households are poorer on asset poverty. This results recommends that the government at all tiers should use other means to improve on some of these dimensions that might not necessarily involve money such as proper sensitization and target oriented friendly policies.
Keywords: Multidimensional poverty, PCA, FGT, DHS, Nigeria.

Micro Finance a Developmental Factor in the Field of Women Empowerment
141-153
T. Kanimozhi and S. Ganesan

Abstract:
This study contributes to the discussion of whether women’s empowerment takes place through effective utilisation of micro finance by involving in income generating activities. Before and after microfinance intervention approach is applied in this study to effectively assess the impact of microfinance on women below poverty line using the procedure of survey research technique. Empowerment Index (EMI) is used as the metrics to measure the extent of empowerment. In this study we have examined the association between empowerment and socio economic characteristics, the monetary and non-monetary benefits derived by SHGs before and after the intervention of microfinance are also analysed. The result of the study indicated that there was an increase in the level of empowerment after getting the access to micro finance facility. The study also reveals that though there was an increase in the level of empowerment the gap between the empowerment level before and after has to be increased which can be done by focussing on the interruptions which blocks the women empowerment and eliminates it to make microfinance a successful tool for empowering women.
Keywords: Micro Finance, Self Help Group, Empowerment, Income Generating Activity.
JEL Classification Codes: D, H53, O1

The Impact of Price Level Fluctuations on Labor Market Development
154-161
Mansoor Maitah, Luboš Smutka, Václav Procházka and Mohammed Boubaker

Abstract:
This paper deals with the impact of price level fluctuations on labor market development in Taiwan. In this paper we attempted to quantify and analyze the impact of price level fluctuations on labor market development by creating different econometric models based on the theory and applying them on the real macroeconomic data of Taiwan during the studied period. The economic and statistical verification of the models suggested that the relationship between the price level and unemployment seems to be an inverse as expected from the theory. However, we were unable to fully explain changes of the price level rate by changes of the unemployment rate and it was necessary to include another variable into the model. We have decided to involve the expected price level in our model. Then, the results of the economic and statistical verification of this model were satisfactory.
Keywords: Inflation, unemployment, expected inflation, Phillips curve, economic growth.
JEL Classification: E3 JEL