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Journal of Applied Management and Investments



ISSN 2225-3467



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Current Issues & Archive

 Volume 5 Issue 2 2016                                  Abstracts







   Canonical Correlation Analysis of Asset-Liability Management of Indian Banks 

M. Dash, R. Pathak       

Asset-liability management is the simultaneous planning of all asset and liability positions for a bank, considering the different bank management objectives and the legal, managerial and market constraints, for the purpose of enhancing the value of the bank, providing liquidity, and mitigating interest rate risk. The framework of asset-liability management broadly covers the areas of interest rate risk, liquidity risk, exchange risk and credit risk. The present study uses canonical correlation analysis to assess the nature of asset-liability management of different bank groups. The results of the study indicate that, among the three groups, private banks had the most dynamic asset-liability management, with a strategy of active liability management. Public and foreign banks seemed to concentrate on fixed assets in their asset-liability management strategies, without actively involving other asset classes, thus bringing the possibility of liquidity and interest rate sensitivity issues in their asset-liability management.

Keywords: asset-liability management, canonical correlation, profitability, liquidity, interest rate sensitivity


  Evaluating the Efficiency of Higher Education    

A. G. Goncharuk

In searching for an appropriate way for evaluating performance of higher education the author found a contradiction, which makes it impossible to create a unified performance evaluation system for higher education. This contradiction reflects the dual nature of some total indicators of higher education institutions’ work, where the same indicator can be considered as an input and as an output. This dualism explains the lack of a unified approach to selection of the indicators to evaluate the efficiency of higher education. The study found the Stochastic Frontier Analysis (SFA) and Data Envelopment Analysis (DEA) as the most appropriate methods for performance evaluation of higher education under specific conditions.

Keywords: efficiency, evaluation, higher education institutions, DEA, SFA



  Vertical Integration in the Azerbaijani Wine Business

J. H. Hanf

Today wine production in Azerbaijan totals to about two million dekalitres a year. Yet, the yearly wine consumption is only one million dekalitres resulting in a total surplus of about one million dekalitres of wine. In consequence, export is gaining in importance resulting in an increase of importance to produce high quality wine. In this context the production of high quality grapes is very important. In this context the paper addresses the question why vertical integration is considered as a major importance for quality wine production.

Keywords: wine business, vertical integration, farms, Azerbaijan


 Management of Economic Development of Industrial Corporations: The Functionalities Opportunities of Operation Management

S. O. Ischuk, Y. V. Kudria

The paper presents the actual economic mechanisms and methods, models and the opportunities of the management capabilities to enhance the efficiency of economic development of corporations and integrated corporate structures by upgrading corporation planning and organization systems of the operating management. The study is based upon the example of industrial corporations.

Keywords: corporations, development, functionality, industry, operation management


 The Current Problems of Fixed Assets Management in Ukrainian Energy Companies     

A. P. Kovalenko

This author discusses the problems of fixed assets management in energy companies. Different ways to improve the efficiency of fixed assets management are considered.

Keywords: energy companies, utilities, management, fixed assets, accounting policy, depreciation



 Healthcare Funding in Kurdistan Regional Government of Iraq

N. A. Mohammed Ali

The paper contains the results of analisys of the current healthcare services in Kurdistan Region of Iraq. The main emphasis in the study made on financing and budgeting management in the healthcare. Author found the barriers for success of the healthcare system and the problems of its funding.

Keywords: healthcare, funding, budget, government, Kurdistan Region of Iraq



 Is Mindfulness a Predictor of Locus of Control?

M. M. Sulphey

Mindfulness, an internal psychological practice that can be used in interactions with the world, helps individuals to focus attention away from anxiety laden thought. The concept, which was focused primarily for its clinical utility, is now being increasingly used in the organizational scenario. Locus of Control is the extent to which people believe that they (internal locus of control) or external factors, such as powerful others (external locus of control) and chance are in control of the events that influences their lives. The present study established that mindfulness is a predictor of internal locus of control. This finding brings to light the need to inculcate mindfulness among key employees if organizations are to scale greater heights in the current competitive environment.

Keywords: mindfulness, external locus of control, internal locus of control, chance



 A Study of Herd Behavior Based on the Chinese Stock Market

Y. Zhang, X. Zheng

Traditional finance theory is based on Efficient Market Hypothesis, while irrational behavior is examined to exist in security market. Behavioral Finance is introduced and developed to explain market anomalies, which incorporates psychology, sociology and other subjects of research methods into the study of investment behavior to explain how investors handle the information and take actions. Herd behavior of investors is a special irrational behavior and an important research of behavioral finance. Investors with herd behavior will be influenced by others easily and over-reliance on public opinion instead of own information and situation when making investment decisions. As herd behavior will have a large influence on stability and efficiency of financial market and even results in financial crisis, government and academia pay extensive attention to the study of herd behavior and produce some theories to examine it, such as LSV model, PCM model, CAPM model, CH model and CCK model. Among them, LSV model, as a classic method, is used most frequently to examine institutional investors. This paper states relative definition of herd effect, reviews theoretical models and uses LSV model as the methodology to examine the herd behavior of Chinese institutional investors in 2014. The results show that obvious herd behavior exists in Chinese security market.

Keywords: herd behavior, behavioral finance, market efficiency, LSV model





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