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Journal of Applied Management and Investments



ISSN 2225-3467



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Volume 1 Issue 4 2012 Abstracts







Analysis of the Cross-Country Predictability via the Study of Cointegration: the Case of Six Asian Emerging Markets

L. Fatnassi, E. Abaoub

The aim of this paper is to investigate the stock returns predictability in a multivariate context. Johansens multivariate cointegration analysis is applied to weekly data on the Korea, Hong Kong, Taiwan, Indonesia and Singapore indices in 1997-2008. The results indicate that markets are cointegrated when prices are expressed in local currencies whereas no cointegration was found for prices in terms of Euro. This result implies the impossibility to diversify internationally in these markets when the index prices where expressed in local currencies. In both case, there is significant cross-country predictability, i.e. the forecast of future returns on one market can be improved by including past returns from other markets.

Keywords: cross-country predictability, emergent market, multivariate cointegration theory, financial market integration

A Stochastic Model in Assessing Resources Dynamics Study

M. A. M. Ferreira, J. A. Filipe

The problem of assessing resources dynamics is considered, through this paper, in the context of an economic system with Gaussian consumption and deterministic productivity. The methodology used consists basically in the presentation of a discrete time recursive equation that supports the Ornstein-Uhlenbeck diffusion process use. Some assumptions on the regeneration of the process are made, under which the system equilibrium is observed in what concerns the resources depreciation or accumulation.

Keywords: assessing resources dynamics, management scheme, Ornstein-Uhlenbeck diffusion process


Attitude Building in Management Education

A. Gabula

This article reviews how B schools can integrate the being component along with the knowing and doing component in their curriculum. It studies all the articles in the area of attitude building in management education and comes to some overall conclusions on various ways B schools can make attitude building a part of their curriculum.

Keywords: attitude, being, behaviour, moral, ethics, B school curriculum, attitude building


From the Assembly Line to Working with People: Emotion Management

C. Grigore

This paper concentrates a short review of the literature in the emotion management field. Bounding rationality with emotionality may represent a key activity for each company that aims to gain market share and customer loyalty. Standard operations for creating goods were nowadays replaced with customer interaction, verbal, bodily and emotional control in the service sector. All this actually defines an organizational dynamism were every struggle is carried out through any resource one can put at stake.

Keywords: emotional management, service sector, rationality


Armenian Wine Business and Its Interplay with Foreign Influence

J. H. Hanf, V. Marquardt

This paper describes the development of the Armenian wine and brandy business and discusses the influence that foreign investors have taken in this development.

Keywords: Armenian wine business, foreign direct investments, verticalization


An Empirical Study of Attitude towards Food in India

M. Lal

The paper aims at studying consumers attitude towards food, subjective norms and intentions affecting food behaviour. Both primary and secondary data has been used for the study. Primary data from a sample of 362 consumers is collected using a modified questionnaire based on theory of planned behaviour (TPB). Examination of the estimated coefficients indicates that, the basic structure of the TPB model holds true. Hypotheses are tested by applying structural equation modelling technique for validation of proposed model. The model returned good fit.

Keywords: attitude, food, subjective norms, intentions, behaviour, belief, purchase, perceived


Measurement and Analysis of the Trends in Competitive Performance:

South African Agribusiness During the 2000s

S. J. van Rooyen, D. Esterhuizen

This paper analyse the changing business environment that faced the South African agribusiness sector during the first decade of the 2000 millennium before the big economic meltdown period. The analysis focuses on competitive performance and is conducted through measures such as Relative Trade Advantage, the Porter Diamond analysis and the participation of executives and agribusiness leaders in an Executive Survey. The study shows that the business environment for the sector is constrained, marginally positive but with an increasingly negative trend since 2004.

Keywords: South Africa, agribusiness competitiveness, relative trade advantage, Porter


Ethics and Social Issues in Marketing

N. Sheoliha

The focus of ethics is on doing the right things in making business decisions by individuals and groups and social responsibility requires fulfilling the obligation to achieving a balance for all stakeholders within or outside the business. Thus entire business as it is understood today has the ethical dimensions. This paper focuses on various aspects related to marketing. In marketing the discussion is limited to ethical issues related to product, pricing promotion and society in Indian context.

Keywords: ethics, social responsibility, marketing


Why Get Afraid of the Big Boxers? Say Yes to FDI

M. Srivastava

According to AT Kearney's Global Retail Development Index 2012, India has been ranked as the fifth most desirable destination for international retailers. Till recently, FDI in retail (except under single-brand retailing) was not allowed in India. With the announcement made in the month of September 2012, 51% FDI has been permitted in multi-brand retail. The present article not only highlights the various apprehensions related to FDI in India, but also throws light on the various problems existing in the Indian Retail Sector; and finally explores as how the FDI may help the sector to overcome these challenges.

Keywords: FDI, single-brand retail, multi-brand retail, organized retail, Wal-mart, SMEs, consumers, farmers


Corporate Investment Policy in the Context of Family Firms

E. F. S. Vieira

This paper studies the impact of family-controlled firms on firms investment policy considering the 1999-2010 period. The results indicate that changes in firms investments are sensitive to internal resources, suggesting that corporate investments are constrained by internal liquidity. Comparing the family and the non-family firms results, we conclude that the investment cash flow sensitivity is higher for family controlled firms than for non-family counterparts, finding also some evidence that family firms corporate investment is more negatively related to crisis than non-family investments. During crisis period, family firms take a more conservative investment policy.

Keywords: investment policy, family firms, panel data


Dynamics of Start-Up Firms in Spains Traditional Manufacturing Activities

S. Vivas-López, M. Quílez-Pardo

This article examines the influence of entrepreneurship dynamics in regional clusters. We focus on the territorial influence of agglomeration phenomenon on growth of start-up firms as well as in employment in local production systems. Specifically the study analyses recent entrepreneurial territorial dynamics that traditional manufacturing sectors (TMS) have experienced. Some of the key structural features (Location and Subsector) of 3032 Spanish textile companies created between 2000 and 2009 were studied. The results of the analysis show that the evolution was negative, especially in regions with an industrial district/cluster and less technology-intensive subsectors. Therefore globalization and trade liberalization in the textile industry (joined to geographical concentration and productive specialization) is the cause of an important spatial reorganization of the TMS among the different Spains regions.

Keywords: entrepreneurship, local production systems, traditional manufacturing sector, industrial cluster


Applied aspects of investment decision making

A. G. Goncharuk

The paper presents the technique of the strategic and portfolio decision making with important practical value that enables the investor to make an optimal choice of the investee. The effectiveness of the proposed technique is demonstrated by the case of food industry of Ukraine.

Keywords: investments, investment decision, efficiency, investment attractiveness, food industry, brewing company


Impact of Personnel on the Results of Foreign Economic Activity of the Export-Oriented Enterprises in Light Industry

T. V. Kuznetsova

The influence of personnel on the results of foreign economic activity of export-oriented enterprises in the light industry of Ukraine is analyzed. The conclusions about its significance are made.

Keywords: personnel, foreign economic activity, export-oriented enterprise

State Investment Support in the Agro-Industrial Complex of Russia and Rostov Region

V. V. Kuznetsov, I. Y. Soldatova

In article justified that one of the main objectives for the agricultural sector is to create a market for innovation and investment, to address the issue of self-financing and increase the competitiveness of the domestic agricultural sector. Of particular importance in this regard is the state budget, and administrative support for investment - namely, the institutional structure of the state, the quantitative and qualitative measures of national support: federal and regional, external economic support measures.

Keywords: the investment policy, Russian agricultural sector, government support, agricultural producers, investment support, agricultural innovation, Rostov region


Development of the Mechanism of Implementing the Conception of Strategic Marketing on an Enterprise

N. A. Sushko

In the article the basic approaches to the concept of strategic marketing is considered. The basic principles of the strategic marketing are educed. The mechanism of implementing the conception of strategic marketing on an enterprise is developed.

Keywords: strategic marketing, principles, conception, mechanism


Modified Internal Rate of Return in the Investment Project

A. G. Yankovoy, N. V. Melnik

The paper examines the methodological problems of the use of the most important criteria for the evaluation of investment projects, based on discounted cash flows. Authors consider the properties, advantages and disadvantages of the modified internal rate of return (MIRR) in the process of evaluation of the investment project to determine its suitability to objectively assess the level of efficiency of the investments in various situations, in particular in the presence of an unusual cash flow.

Keywords: evaluation, investment project, modified internal rate of return





(c) 2011-2012 Journal of Applied Management and Investments