European Journal of Economics, Finance and Administrative Sciences

Issue 65
May, 2014

A Study on Perception of Engineering College Students Towards their Institutional Climate with Special Reference to Namakkal District, Tamilnadu, India
M. Christopher and A. Lakshmi

Students are the important customer for any type of educational institutions and their views are taken as important source information for institutional development and it is benefit for both the institution and the student. This study focus on student’s perception towards their institutional climate on the following dimensions: college atmosphere, teaching and learning, faculty student relationship, training and development, college facilities and placement. The survey instrument is designed by the researcher a sample of twenty four engineering colleges were selected and questionnaires were collected from 245 engineering college students. Descriptive statistics, t-test and MANOVA were used to analyze the data. This study is mainly focus on the perceptions of engineering college students on the six dimensions of institutional climate and to find out the impact of demographic factors of students like gender, first generation degree holders, hosteller or day scholar and rural or urban on institutional climate dimensions. The study revealed that except gender all the other demographic factors has no significant impact on institutional climate and there is no difference among the students towards their institutional climate, gender wise analysis revealed that there is strong evidence of perceptual difference between male and female students towards their institutional climate.
Keywords: Institutional climate, Perception, College atmosphere, Teaching and Learning, Relationship, Training and Development, College facilities and Placement.

Does Price Awareness Matter to Brand Equity?
Abdullah Alhaddad

The knowledge about the product is one of the most important variables which effect the consumer perceptions in the market and in the same time effect the brand equity. Price awareness as a construct has been one of the top behavioral pricing themes in the last four decades and it means the ability of buyers to keep price in mind .Brand awareness and brand image are most important determents of brand equity .The Main purpose of this study is to influence of price awareness on brand equity ,the conceptual model illustrates the impact of price awareness on the formation of brand equity, which is assessed through effects between brand awareness, and brand image .In order to accomplish the objectives proposed, a model reflecting the effect of price awareness on brand awareness and brand image ,the model is tested by structural equations and the sample is 318 students from the higher institute of business administration (HIBA) ,the finding show that price awareness has a positive effect on brand awareness and also has a positive effect on brand image. The study finding can be used by sport-wear industry in creating brand equity by using some strategies which can increase the price awareness levels.
Keywords: Price awareness, Brand awareness, Brand image, Brand equity.

Codification of Organization’s Mission, Amount of Flexibility and Attract Resources
Pour Kiani Masoud and Ganjipour Mahboobeh

Introduction: fast changes, flexibility, increasing diversity of the workforce in organizations have attracted the attention of many researches including David (with organization’s mission theory) and Robbins (with access to information theory). The goal of this research was to survey the relationship between codifications of organization’s mission, amount of flexibility and attract resources in organizations and governmental departments of Yazd. The hypotheses of this research are including: 1. there is a relationship between codification of organization’s mission and amount of flexibility. 2. There is a relationship between codification of organization’s mission and productivity of workforce. Materials and methods: present research is cross- correlation. Statistical population of this research includes: senior managers of organizations and governmental departments of Yazd.A sample of 56 people selected by census method which the whole of population has been selected as the sample size. Findings: 1. there is a significant and positive relationship between components of the mission codification and amount of flexibility in organization.2. There is a significant and positive relationship between components of the mission codification and attract resources. Conclusions: these findings are consistent and alignment with the researches of the Bello, Schendel, David and the others. Organization’s mission is considered as a device and clear associated tool for exchange and transfer of the organization’s mission to some groups such as customers, suppliers of raw materials, financial institutions and general assembly of shareholders. There is a specific attention about evidences of mission statement‘s impact on business success. Since the mission statement is a starting point for development of organizational strategy, most companies use widely it. So, with the codification of organization’s mission and amount of flexibility, attract of work resources can be increased which it can raise the success of organization.
Keywords: Codification of organization’s mission, flexibility, attract resources

Motivation Role in Achieving Employment Satisfaction for Workers in Saudi Aramco Company: "Field Research Study"
Osama Abdulaziz Zamzami

Recent studies showed the importance of incentives either financial or moral in achieving functional satisfaction for workers in organizations. These studies consider incentives as one of the factors, effects, and external attractions which encourage the individual to increase the base of his/her performance. Also, they mentioned that incentives can leads to raising the rate of satisfaction and loyalty of the individual towards their organization, which subsequently enhance his/her performance and productivity. This field research study aims to highlight the effect of the financial and moral incentives on workers at Aramco, Saudi Oil Company. The research also aims to examine to what extent workers feel satisfied about their job environment, and to investigate the relationship between abdicable incentive systems on Aramco workers and their functional satisfaction. This research acquires a great deal of importance in the field of business and employment because it examines the Aramco worker’s degree of satisfaction during working for the company. This paper concludes that the importance of applying the incentives systems in raising the workers functional satisfaction in their organizations can consequently enable the company to achieve their aimed goals with high competence and great proficiency. The data in this research were collected quantitatively through a distributed questionnaire among the company workers, and then the data were gathered and analyzed descriptively. Conducting this research through quantifying, socializing, and working with the Saudi Aramco’s workers for more than 20 years, the researcher was able to assert his expectations regarding a number of indicators about the presence of the incentives systems application, weather financial or moral, in the Aramco company policy. Accordingly, the researcher was able to withdraw an important result, such as, the targeted research individuals who see that financial and moral incentives as being represented to workers in order to motivate them were in a less degree, whereas, incentives to some participants can have a negative impact upon workers functional performance. In conclusion, the research indicates that the targeted research individuals (51.5% of the study sample) were satisfied to some extent with the work environment in the company.
Keywords: Functional satisfaction, financial incentives, moral incentives, functional work environment, Workers, organization and Jeddah, Aramco, SPSS

Impact of Italian Downgrades on the Stock Market
Angelo Marinangeli

This paper is interested to the last phase of the crisis occurred in the last two years after the sovereign rating review by the rating agencies. The aim of the study is to identify the relation between downgrade announcements and returns of Italian stock market. More specifically, the study analyses a sample of shares belonging to finance, technology, fashion, food and beverage and health sectors, chosen because they represent the Italian market key sectors. In addition, the analysis is conducted in order to verify if the “border downgrades” have an amplified impact than the other ones. It was found, through the event study dummy approach methodology, that the transitions from a grade to another have had a greater impact than those into the same grade. Moreover, the first Italian downgrade has had an important impact on the stock market returns, because this downgrade represented the alarm bell that the crisis was also intensifying in Italy. Only in the technology industry the first downgrade had no effect. The high tech industry is more robust than the others because it can be defined the most innovative industry, and so it perceived the crisis later.
Keywords: Financial Crisis, Sovereign Rating, Italian Downgrades, Stock Market, Event Study.

Relationship between Macroeconomic Environment and Financial Market Development
Rohollah Ghasemi and Mohammad Javad Mehregan

The purpose of this paper is to analyze the relationship between macroeconomic environment and financial market development for 144 countries that survived in global competitiveness report of 2012-13. The paper used Canonical Correlation Analysis as a multi-variable statistical approach for measuring linear relationship between different groups of variables. The research’s methodology is descriptive-correlation. The results suggest that a significant and positive relationship between two variables exists; the set of “Macroeconomic Environment” and the set of “Financial Market Development”. Accordingly, the results show that, in “Macroeconomic environment” sub-criteria, “Country credit rating” and “Inflation” play momentous roles. And also in “Financial market development” sub-indexes, “Availability of financial services”, “Regulation of securities exchanges”, and “Affordability of financial services” have the most impact on creating a meaningful relationship. The concept of competitiveness has attracted abundant attentions of both scholars and governors during the past decade. This paper provide benchmarking tools for business leaders and policymakers to identify obstacles to improve competitiveness, thus stimulating discussion on the best strategies and policies to overcome them in “Macroeconomic environment” and “Financial market development” issues. It also provides some useful information for improving national competitiveness in countries.
Keywords: Global Competitiveness index (GCI), Macroeconomic Environment (ME), Financial Market Development (FMD), Canonical Correlation Analysis (CCA), World Economic Forum (WEF).

A Study on Customer Satisfaction Towards Services of Star Hotels with Reference to Coimbatore District -A Sem Approach
P. T. Mathew and M. Saravanakumar

Nowadays one of the biggest challenges for managers in the hotel industry is to provide and sustain customer satisfaction. In order to be successful in the market it is not sufficient to attract new customers managers must concentrate on retaining existing customers implementing effective policies of customer satisfaction and loyalty. In hotel industry customer satisfaction is largely hooked upon quality of service. A management approach focused on customer satisfaction can improve customer loyalty, thus increasing the positive image of the touristic destination. Hence, exploring the importance for customers of hotel attributes in hotel selection is indispensable. Therefore, hotels play a vital role in improving tourism and contribute to remarkable economic growth in historical cities. So, the present research focuses on hotel industry. Through the analysis, the researcher has evaluated the overall customer satisfaction level of star hotels in Coimbatore District and for each service supplied. Finally concluded that the variables AMR, MRN, PHY, COM, CST, ACF and CLH which have negative relationship within the operations for analyzing the customer satisfaction towards the select star hotels in Coimbatore District.
Keywords: Customer Satisfaction, Services and Star Hotel sand SEM.

A Study on Perception of Private Medical Practitioners on Indian Health Care System

G Shoba and A. Lakshmi

This seminal work was initiated to study the perception of private medical practitioners on Indian health care system. This study focuses on demographic background, factors influencing perception of private medical practitioners, perception on nature of practice, number of beds, patients, cost, type of practice, and Government subsidy involved in Indian health care system, and influence of recurring expenses on private health care. Multistage random sampling method was administered to collect data. The primary data was collected from about 335 private medical practitioners through non-disguised and close-ended questionnaire. The statistical tools such as percentage analysis, factor analysis, multiple linear regression analysis, chi-square test, and Garret score ranking analysis have been utilized to analyze the data. Private hospitals were providing healthcare services according to their own. The government should take necessary steps to regulate the private medical practitioners to improve the quality of private healthcare system. Further, the private medical practitioners were suggested that to take appropriate measures to extend bed facility, to take care of more patients in a day, and to improve staff-patient ratio. Hence it is concluded that there is an ample opportunity to enhance the private healthcare system and its quality services to the patients.
Keywords: Perception, Private Medical Practitioners, Health Care, Medical Treatment, Recurring Expenses, Private Hospitals

Customer Characteristics and New Product Knowledge Effects on Impulse Buying Behavior
Asadollah Kordnaeij and Narges Hasan Beygi

In the customer behavior field, Impulse buying occurs when a customer experiences a sudden, often powerful and persistent urge to something immediately. This study examines the mediating impact of shopping purposes in impulse buying behavior and this hypothesis has been presented, “customer’s specification (excitement and self-esteem) and his knowledge of new products, affects occurrence or failure of new products Impulse buying”. Inferential and descriptive topics have been used in questionnaire analysis. Path analysis and confirmatory factor analysis is used as inferential statistics. SPSS and Lisrel have been used for Analyzing data. The purpose of survey is examining effect of Impulse buying components and help Iran’s marketing development. This study is an applied and descriptive-survey research. Sectional data of study is collected by questionnaire in clothes shopping centers of Tehran, in 2013. Random clustering and simple random sampling methods were used in order to data collection by questionnaire. Data analysis showed that the most impact is between customer’s excitement and impulse buying behavior (0.62) and the least one is between new product knowledge and purchase intention (0/17). Finally 7 hypotheses of whole hypotheses of the study have been proved.
Keywords: Customer behavior, Impulse buying, Customer characteristics, New product knowledge

The Effects of Global Financial Crisis on Nigeria’s Financial Sector and its Implication for Monetary Policy Responses
Victor A. Malaolu, Jonathan Emenike Ogbuabor and Anthony Orji

The financial system in any economy plays the important role of promoting economic growth and development through the process of financial intermediation. However, this system was recently hit by a global financial crisis that emerged from the U.S.A in 2007. This study empirically examined the impact of global financial crisis on Nigeria’s financial sector using time series data that spanned from 1970 to 2010 and applied the econometric methodology of Autoregressive-Error Correction Model (AR-ECM). The results indicate a long run relationship between banks asset, Money Supply and the dummy variable used to capture global financial crisis. The results also show that global financial crisis significantly affected the banking sector negatively. The study therefore recommends that the Nigerian government should strengthen the growth of institutions like the pension fund, Housing fund, and Health insurance fund in order to enhance the liquidity of the financial system. Formulation and implementation of more vigilant regulatory measures should be adopted for the financial system in Nigeria. There should be proper co-ordination among regulators; while the CBN is urged to continue with and strengthen the banking system consolidation programme as well as the cashless policy.
Keywords: Financial Crisis, Financial Sector, Monetary Policy, Error Correction Model, Nigeria