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J  .  A  . M  . I

Journal of Applied Management and Investments

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ISSN 2225-3467

 

 

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Current Issues & Archive

 Volume 7 Issue 3 2018                                  Abstracts

 

 

 

 

 

 

 Determinants of Capital Structure in the Indian Pharma Sector

A. Bhattacharjee, M. Dash        

This study analyses the determinants of capital structure in the Indian pharma sector using pooled regression and panel regression modelling. The results of the study suggest that financial leverage in Indian pharma companies is determined primarily by two factors: it is positively related with Non-Debt Tax Shield and negatively related with Profitability. Paradoxically, the former finding supports the Static Trade-Off theory, as companies would prefer debt financing due to its tax benefits, while the latter finding supports the Pecking Order theory, as more profitable companies would prefer internal sources of funds. This could mean that pharma companies would prefer to finance their initial capital expenditure through debt due to its tax advantage, but as they become more profitable they prefer to turn to internal sources. This switch-over behaviour, whereby companies would be expected to switch from financing through debt to retained earnings, should be investigated in further detail, in the pharma sector and in other capital-intensive industries.

Keywords: capital structure, pharma sector, Static Trade-off Theory, Pecking Order Theory

JEL Codes: G32, L65

Citation: Bhattacharjee, A. and Dash, M. (2018), “Determinants of Capital Structure in the Indian Pharma Sector”, Journal of Applied Management and Investments, Vol. 7 No. 3, pp. 125-131.

  

  Analytical View of Outsourcing Education of Sales Managers

J. Cocuľová             

The paper deals with outsourcing, a modern way of implementing selected business activities through an external entity. The attention is paid to employee education, an activity that manages human resources, often carried out through outsourcing. The aim of the paper is to compare the internal and external forms (i.e. outsourcing) of education in terms of employee satisfaction. One part of the paper presents results of the research carried out on a sample of sales managers in Slovak companies. The research aimed at finding out the existence of statistically significant differences in the level of employee satisfaction with the acquisition of selected types of skills (communication skills, team leadership and sales skills) in terms of education forms. For this purpose, three statistical hypotheses were tested using the Pearson Chi-squared test at a significance level of 5%. Based on the statistical testing, two hypotheses were adopted.

Keywords: outsourcing, education, training and development, sales manager

JEL Codes:  M12, M53

Citation: Cocuľová, J. (2018), “Analytical view of outsourcing education of sales managers”, Journal of Applied Management and Investments, Vol. 7 No. 3, pp. 132-140.

 

  Does Innovation Chase Profits, or Do Profits Chase Innovation?

T. E. Lambert

This paper performs an empirical assessment of a debate held decades ago on whether an entrepreneur’s or a firm’s desire for profits starts with innovation, or whether excess profits or surplus are used as some type of investment fund to perform research, development and innovation.  That is, which typically comes first, innovation and then profits, or do profits come first, and then innovation?  In the former case, it is held that either the small entrepreneur or the large corporation has an idea for a new and innovative product or service and then finds the ways to fund its development.  In the latter case, it is thought that research and development on any new idea or product usually comes about only once a certain level of profitability has been attained by the firm, and development of a new product or service is not undertaken unless it meets a certain target rate of return on investment. The analysis of this paper examines a debate in which Paul M. Sweezy argued that innovation mostly comes about thanks to firms, especially large corporations, investing excess profits into research and development, which was contrary to the traditional view of Joseph Schumpeter who believed that innovative ideas come first, and then firms pursue the innovative ideas. The traditional view is still the predominant view of most people who study innovation, although so far no evidence of a test of the Sweezy contention has been found in the course of doing research on this topic.  This paper uses time series data from different governmental and private sector databases and time series least square regression to test the Schumpeter and Sweezy theories.

Keywords:  corporations, innovation, research and development, profits

JEL Codes:  O32, L25, O40, E32

Citation:  Lambert, T.E. (2018), “Does Innovation Chase Profits, or Do Profits Chase Innovation?”, Journal of Applied Management and Investments, Vol. 7 No. 3, pp. 141-146.

 

  Appropriation Economics versus Managers’ Ethics       

P. Masiukiewicz

Appropriation economics shows mechanisms of taking over companies, independent earnings, and extraneous assets. It can be stated that capital is appropriated by the small groups of individuals who are grasping, lacking ethics and tied to politicians. It is a process that is constantly present in the global economy. In this paper theoretical and practical aspects of these phenomena have been presented, deploying case study method. Appropriation economics constitutes a significant strand of both theory and praxis. It explains creation of social inequalities, payment of unreasonably high bonuses in leading financial and industrial corporations. A social movement to stand up against such practices in business and strong response of public authorities are necessary.

Keywords: bankruptcy, business, ethics, manager, appropriation economics, social inequalities

JEL Codes:  G33, D63, M14

Citation:   Masiukiewicz, P. (2018), “Appropriation Economics versus Managers’ Ethics”, Journal of Applied Management and Investments, Vol. 7 No. 3, pp. 147-153.

 

 

   Resources, Relationships and Networks, and the Problem of Organizational Trust

K. Mazur, Z. Kulczyk

The aim of this paper is to recognize research niches in the area of inter-organizational trust, its antecedents, outcomes and possible moderators. The groundwork of this study is research findings identified in digital databases of high indexed research papers. The authors applied the method of critical analysis with some elements of meta-analysis. This paper considers selected problems and variables: an internal organizational area that considers resources, a relational area considering mutual relations of partners and a network area that considers related social relations and cultural elements.

Keywords: organizational trust, resources, meta-analysis, social relations, networks

JEL Codes: L14, M14

Citation: Mazur, K. and Kulczyk, Z. (2018), “Resources, relationships and networks and the problem of organizational trust”, Journal of Applied Management and Investments, Vol. 7 No. 3, pp. 154-161.

 

 

   Study on Employer Branding in IT Companies: The Indian Scenario

A. Pawar

The employer brand characterizes the core values of an organization. Organizations are considered as good employers who have a strong identity and a positive image in the marketplace. Employer branding is relatively a new terminology for many companies in India, but it is becoming more important to today’s businesses for ensuring the sustainability in the market. Employer Branding gives a competitive advantage for employers for getting the right candidates with required knowledge, education, competence and skills from the job market. To be successful, organizations needs to attract the good prospective employees from the job market. Marketing tools associated with brand management have been applied to the human resource management in order to attract, engage and retain talented employees in the same way as marketing applies such tools to attract and retain customers is called as employer branding. It is a long-term and targeted strategy to manage the perceptions and awareness of current employees, communicate to prospective employees and other stakeholders associated with a specific organization. This paper puts the light on understanding the concept of employer branding in IT companies in India. It also deals with identification and analysis of the factors affecting Employer Branding from the viewpoint of the employees. Further, the paper also determines the importance these factors with employer means and results for creating Employer Brand for IT Companies in India.

Keywords: employer branding, employer of choice, employer brand, organizational attractiveness

JEL Codes: J40, M31, L86

Citation: Pawar, A. (2018), “Study On Employer Branding In It Companies: The Indian Scenario”, Journal of Applied Management and Investments, Vol. 7 No. 3, pp. 162-171.

 

 

    Significance of Differences among National Cultures in the Enterprise Management: A Literature Review with Observations on Ukraine

T. Protsiuk, R. Skrynkovskyy

The purpose of the paper is to study the fundamental features of national cultures that influence the formation of interpersonal relationships within the enterprise, and, as a consequence, the effectiveness of managing the value of the enterprise in general. The methodology of the research is to apply methods of analysis, synthesis, comparison, generalization, as well as terminology, source study and system approaches. The scientific novelty of the obtained results consists in substantiating the theoretical positions and presenting practical recommendations for increasing the level of efficiency of the enterprise, formulated on the basis of the selection of the essential features and the significance of the differences between national cultures in the management of the enterprise, which are related to transaction costs and transaction benefits.  It is established that: 1) there are significant differences among national cultures, based on the principles, values, systems of stereotypes, behavioral patterns and management activities, which characterize transaction costs from the complexity of conducting international negotiations to a certain degree; and 2) cross-cultural aspects of increasing the efficiency of enterprise management are related to transactional benefits from the mutual exchange of the implicit cultural knowledge, values, norms, experience, etc., in particular within the enterprise. The prospect of further research in this area is the formation of practical recommendations for the improvement of the system of partial diagnostic purposes of the enterprise's polycriterion economic diagnosis, taking into account the importance of differences between national cultures in the management of the enterprise.

Keywords: national culture, stereotypes, enterprise management, cross-cultural management, Ukraine

JEL Codes: M14, L2, Z1

Citation: Protsiuk, T. and Skrynkovskyy, R. (2018), “Significance of Differences Among National Cultures in the Enterprise Management: A Literature Review with Observations on Ukraine”, Journal of Applied Management and Investments, Vol. 7 No. 3, pp. 172-178.

 

 

 

 

 

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