European Journal of Economics, Finance and Administrative Sciences

Issue 64
March, 2014

Quality of Work Life among Employess in Steel Industry
R. Miyal Vaganan and P. Vikkraman

This paper aims to measure the psychological problems of employees in steel industry in Salem steel plant. Psychological problems are gaining more importance in globalised era. More competitiveness and fast growing economical conditions prevailing in the industry creates more stringent work atmosphere for employees. Descriptive research design had been used .The present study is based on primary and secondary data. Primary data were collected from employees through structured questionnaire and secondary data from company hand books, journals, and magazine. The statistical tools used were Mean Rank score. The major finding was anger was ranked first followed by Irritation, and stress was ranked third. Further the study can be carried to major steel industries. This research article reflects the need of psychological problems with respect to quality of work life in steel industry. Family counseling along with the employees, stress relieving mechanism like health club, yoga, psychological counseling shall be provided. The management should also concentrate on ethical and moral values to the employees.
Keywords: Quality of work life, Irritation, frustration, Tension, Stress, Anxiety

Dynamic Optimization of Portfolios with Some Transaction Costs
Elmo Tambosi Filho and Wesley Vieira da Silva

Investors are always willing to receive more data. This has become especially true for the application of modern portfolio theory to the institutional asset allocation process, which requires quantitative estimates of risk and return. When long-term data series are unavailable for analysis, it has become common practice to use recent data only. The danger is that these data may not be representative of future performance. Although longer data series are of poorer quality, are difficult to obtain, and may reflect various political and economic regimes, they often paint a very different picture of emerging market performance. This paper presents an application of a stochastic non-linear optimization model of portfolios including transaction costs in the Brazilian financial market. In order to have that, portfolio theory and optimal control were used as theoretical basis. The algorithm used in this paper had been previously suggested by Hall and Stephenson [1990], Becker et. al. [1994] and Rustem [1994], and was adapted afterwards by Samohyl in 1994. The results investment strategies that can be designed for the investor. The first strategy tries to allocate the whole available wealth, not considering the risk associated to portfolio (deterministic result). In this case the investor obtained profits of 7,23% a month, taking into account the three risk aversion levels during the whole planning period [see column (7)]. On the contrary, the results from of the stochastic algorithm obtained profits of 1,34% a month and 18,06% a year, if the investor has low risk aversion. The profits would be 0,88% a month and 11,02% a year for a medium risk aversion investor. And with high risk aversion, the investor obtains 0,62% a month and 7,66% a year.
Keywords: Dynamic Modeling, Stochastic Optimizing and Non-linear Programming.

Regulation of the Work in the Information Economy
Astamur Tedeev

The development of new information technologies means the degree of economic activity mobility increases. Recently, cost reduction has become one of the most effective ways to increase business profitability and company capitalization and is carried out using new forms and methods for employee management, namely, through telecommuting. Legislative regulations for such work have been developed, many problems however remain unresolved. First, the border between the labour contract and the civilised service contract is being broken. As a result, the standards for labor rights protection are being decreased for workers who work through the Internet in comparison with usual workers. Therefore, such workers are discriminated against, even if they have the same citizenship. There are also problems with fiscal competition.
Keywords: Telework, Labour Legislation, Information Technology, Workplace Revolution, Electronic (Virtual) Company, Post-Socialist Countries

An Empirical Study on Impact of Performance Appraisal in Small and Medium Scale Enterprises in Tamilnadu - India
M.Kathiravan and K.Karthikeyan

Performance Appraisal could be an effective source of management information, given to employees. Performance appraisal helps to rate the performance of the employees and evaluate their contribution towards the organizational goals. Performance Appraisal is a motivation for the employee, who performs well in the present to go on doing so and in the future. This study was carried out to find out the most influencing factor that contributes towards the effectiveness of performance appraisal in SME’s in four 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 278 respondents. Questions asked respondents 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 0.876. This shows that data has satisfactory internal consistency reliability. Using Statistical Package for Social Science the following tests were carried out 1) Factor analysis 2) Multiple Regressions. Some of the relevant findings were derived that will be significant and relevant to present Indian scenario.
Keywords: Performance Appraisal, Medium Scale Enterprises, Effectiveness

Profitability of Tunisian Banks: Market Power versus Efficient Structure
Olfa Nessibi

The purpose of this research is to examine the relationship between market structure and profitability in the banking sector using data from Tunisian commercial banks during the period 1990-2008. We attempt to distinguish between the market power hypotheses (the SCP and the RMP hypotheses) and the efficient structure hypotheses (the X-Efficiency and the Scale Efficiency hypotheses). We have taken a sample of 10 commercial banks incorporated in Tunisia to examine the above hypotheses. The empirical results retain the SCP hypothesis but reject the RMP hypothesis. Also, the efficient structure hypotheses are rejected. This result suggests that the Tunisian commercial banks seem to generate their profitability through market power exercise not through an efficient activity.
Keywords: Market power, Efficient Structure, Banking, Tunisia

Strike Rate Variations – Facts behind Students’ Performance Levels Based On Reading Skills
S. Sreejana and K. Brindha

Generally, in a class room a high percentage of students hail from a myriad of a rich cultural background based on diversity and ethnicity. However, sometimes languages and dialects bring up issues of possible discrimination due to the perception that some accents are more prestigious than others. In colleges only a few students participate in the classroom activity by interacting with peers and faculty. These activities could be a source of enrichment of knowledge in languages and cultures instead of leading to any discrimination. This paper attempts to analyze the different situational influences that build up a student’s linguistic skill. It thus enunciates the academic and semi-academic performance of students from varied backgrounds. In the present scenario in Tamilnadu, there are students from English medium and Non-English or Vernacular medium background. Vernacular medium is the medium in which the students learn in their respective regional or native language. Most of the first generation students do not get proper guidance or advice to lead them in the field of education since they are the first in their family who seek education. The grasping power is different in each student. The Vernacular medium students find it difficult to understand the individual sentences and organizational structure of a piece of writing in English. They are unable to comprehend the ideas and detect implications. They seemed to be reserved in the presence of students from English medium. To develop the communication skill in each individual, LSRW – Listening, Speaking, Reading and Writing is very essential. In the present scenario, the professionals certainly need effective and impressive communication skill. To develop speaking and writing which are productive skills, the receptive skills like listening and reading are also important. Only when the students start reading, they will be familiar with vocabulary and it will help the reader to acquire new words and phrases that they come across in every day conversations. The simple and technical words, the students come across in their subjects will be new to the Vernacular medium students unless they cultivate the habit of reading. So, in this paper, it is emphasized that enhancing the reading skill in these Vernacular medium and first generation students are important in order to develop good communication.
Key words: Academic, Semi academic, vernacular, first generation, comprehend, Communication, receptive, Reading, linguistic, grasping.

Impact of Stress among Public Sector Bank Employee’s in Tamilnadu – An Empirical Investigation
A.Vanitha and A.Velanganni Joseph

Stress is a state of being involving demand on physical or mental energy. Occupational stress refers to a situation where occupation related factors interact with employee to change i.e. disrupts or enhance his / her psychological and or physiological conditions such that the person is forced to deviate from normal functioning. Occupational stress is generally defined in terms of relationship between a person and his environment. Stressors may consist of various stimuli in the environment, such as the climate or social conditions. Stress is a subjective experience and hence the cause of stress may differ from person to person or from occupation to occupation. This study aims at identifying the factors causing job stress in Bank employees. Primary data was collected by the researcher with the help of structured questionnaire administered to the middle level employee’s from two leading public sector banks head office at Tiruchirappalli, Tamilnadu. 228 employees from those banks constitute the sample size. Simple Random Sampling using lottery method was adopted to select the respondents. The determinants of job stress that have been examined under this study include, management role, relationship with others, workload pressure, homework interface, role ambiguity, and performance pressure. To test the reliability of the data collected, the researcher used cronbach’s Alpha test and the value is 0.765 which shows that the data has satisfactory reliability and validity. Using Statistical Package for Social Science (SPSS) some of the relevant tests were carried out like factor analysis and reliability test. Based the test results some of the relevant findings were derived that will be useful to present Indian scenario.
Keywords: Stress, Stressors, Bank etc

Waqf and its Role in the Social and Economic Development of the Hashemite Kingdom of Jordan

Mousa Almanaseer and Bashar Matarneh

This study aims at recognizing the role of waqf in both the economic and social sectors in the Hashemite Kingdom of Jordan. This study includes a definition of waqf, an abstract about waqf and its development to modern times since the age of the Messenger, peace and blessings of Allah be upon him The study also shows the most important targets of waqf and the importance of waqf for both the economic and social sectors and the uses of waqf in both sectors. This study adopted the descriptive methodology to show the role of waqf in both economic and social fields in the Kingdom. It depended on secondary data from previous resources, books, references and literature in the subject, in addition to analyzing the data submitted by the Jordanian Ministry of Awqaf, Islamic Affairs and Holy Places as well as Amwal Development institution?. The study also sought to know the realty of Islamic waqf in Jordan as well as the most important institutions interests and seeking to develop it? The revenues and expenses of Waqf's funds Development Foundation For the period of 2005 -2010 were also reviewed and a set of percentages were drawn up to show the distribution of waqf in the different sectors of the Kingdom. The study concluded that the waqf funds dedicated to mosques and cemeteries ranks first and dominates all of the waqf funds, whereas there are a few waqfs that contribute to the economy. Despite the existence of huge waqf assets and properties, little has been invested in these assets and properties. Thus, the study recommends working on the following and conducting a campaign to raise public awareness on the importance of waqf for the economy, in addition to increasing the contributions of the private sector to waqf and investing in different projects that serve society.
Keywords: Waqf, the social, economic development

Institutions and Political Economy of Corruption in MENA
Shereef Ellaboudy and Mahmoud Abdelbaky

Two years after the start of the start of the Arab Spring of 2011, the opportunity for institutional and economic reform in the Middle East and North Africa, “MENA”, Region is exceptional. However, fundamental political change cannot be separated from further institutional and economic reforms. MENA region is facing major structural challenges including, but not limited to, high level of unemployment, huge public debt, unsustainable public sector and government subsidies, very low level of foreign direct investment and still widespread corruption that need to be tackled. Moreover, structural political changes and reforms may not completely answer citizens’ demands if it is not supplemented by better living standards. Corruption is a major impediment to sustainable economic growth. Independent and effective legal and economic institutions are needed to contain corruption and secure property rights for private investors and foreign direct investment. No comprehensive empirical research exists on the corruption or its impact on resource use and the distribution of income in MENA. In this paper, we use empirical evidence to explore the link between institutions and corruptions and we will try to show how Arab Spring development could provide an unprecedented opportunity to develop a more transparent and effective economic governance to unleash the region’s economic potential
Keywords: Corruption in MENA, Institutions, income distribution and resource allocations, Political economy of corruption

Approaches of Two Different Vocabulary Learning Strategies to Enhance English Vocabulary and its Retention
R. Suraj Begum and K. Brindha

Recently, English Language has played an increasingly important role in second language settings. In every skill of language like listening, speaking, reading, and writing skill, Vocabulary is a vital aspect in language. Vocabulary is more important to us because it is through words we communicate effectively. The English language, boasting perhaps the most abundant stock of words among all the words’ languages ( Mc Crum, MacNeil, & Cran,2002). Effectiive communication is not possible without the substantial asset of vocabulary. Schmitt (2000, p.137) rightly acknowledges that “the learning of basic words cannot be left to chance, but should be taught as quickly as possible, because they open the door to further learning”. A good knowledge of words helps in an effective presentation of ideas, oral as well as written. It creates an impact on the listeners or readers about the communicator as being a learned and erudite person. This paper aims to examine the approaches of learning strategies in relation to learning process of vocabulary and its retention level. The survey methodologies have been observed in the format of analysis of questionnaires in the field of pre test and post test, students reading ability, new word knowledge, implementing of new words through two different strategies. The data was collected during 8 weeks of the study. Data Analysis of this work show that vocabulary learning has positive effects on improving student’s vocabulary from the target words of 30 words. Students show a positive attitude towards these strategies for learning vocabulary. The findings of this study are beneficial to other researchers aspiring to develop student’s vocabulary as well as their retention ability.The participants under this study include 352 students from an engineering college of 2013 batch. Out of which 284 males and 68 females were taken for the study. This paper explains in detail about the real classroom experience that was carried out to investigate the impact of involving two different types of strategies, i.e (1) Word Map (2) Guessing the Words. This paper discusses the participant’s performance on immediate and delayed vocabulary post tests in order to identify their retention level. Furthermore, it answers the question how effective is the English Class when a word is taught through appropriate strategies?
Keywords: Real classroom experience, Process of Vocabulary, Word Map, Guessing the Words, Retention Level