Showing papers in "Business and Economics Journal in 2017"

The Banality of Evil

Abstract: The book \"Eichmann in Jerusalem: A Report on the Banality of Evil\" was written by Hannah Arendt and published in 1963 [1,2]. Arendt, a political philosopher who was persecuted by the Nazi regime, had followed the Eichmann trial for war crimes and highlighted how this brutal criminal was an absolutely \"normal\" person in everyday and family life, in contrast and asymmetry to the ruthlessness that he practiced in his \"work\". Is it possible, asked Arendt, that apparently normal individuals, judged as such by expert psychiatrists, can in particular circumstances become heinous criminals without the slightest sense of guilt? How widespread could this anomaly of the human soul potentially be? Arendt argued that such circumstances might occur when there are no roots, no memory of past mistakes, no reverting to one’s own thoughts and actions, in short, a lack of inner dialogue. \"Gnotzi seauton\" (know thyself) was the highest exhortation engraved on the front of the temple of Apollo at Delphi. You need to know your own mind to understand the world and the people around you, claimed Plato [3,4]. However, it seems that this propensity has been lost in our time, leading to everyone being less independent in making choices in life, devoid of critical thinking skills and imagination but influenced by an invasive and ratifying cultural model that turns the masses into a sort of \"plankton\" at the mercy of the waves and the wind, unable to look within.

Corporate Tax Payments and Corporate Social Responsibility: Complements or Substitutes? Empirical Evidence from Europe

Abstract: Recent empirical studies find mixed evidence on the relation between corporate social responsibility and corporate tax payments. We investigate for a European sample whether the two constructs act as substitutes or complements. We analyse the relation using a linear unobserved effects panel model. Our findings suggest that corporate social responsibility and corporate tax payments act as substitutes.

The Impact of Corporate Reputation in a Dairy Company

Abstract: The purpose of this paper is to understand the importance of corporate reputation (CR) how main intangible asset of a company. This study investigates the role of CR on optical three group’s stakeholders: cooperants, workers and customers on loyalty in cooperative organizations. This study proposes a theoretical model tested using structural equation modeling. 1200 valid questionnaires were collected from a three group samples: cooperants; workers and customers of the biggest dairy union of cooperatives in Iberia. CR has a significant impact on loyalty in three group’s stakeholders on organizations cooperatives. Corporate reputation is revealed as an intangible asset, constituting, as the pillar of organizational development by providing ability to compete in the market and generate profits. This study is based on three cross-sectional data from a dairy company. This is a topic that, given the multiplicity of possible approaches, it is even less studied the theoretical level as regards the analysis of corporate reputation with applicability in the various organizational stakeholders. The results give new guidelines to redress the cooperatives traditional management, namely the management of intangible assets like reputation. This paper contributes to the competitiveness of a type of organization closed to the social structure of the rural population. This research with three types of stakeholders (cooperants, customers and workers) power shall be constituted as an important contribution to the literature, for what has been analyzed only works strand of customers (external) and/or employees (internal). The results bring the management challenges of the 21st century to the traditional principles underlying cooperatives management helping them to reinforce competitiveness. The intangibility is always a difficult area of research, in which old doors close and new doors open.

Gender-Specific Health-Seeking Behavior and Income Status among the Elderly Citizens of Serbia

Abstract: We observed the National Health Surveys of Serbia, 2000 and 2006 for exclusively the subpopulation of all senior citizens aged 65 or more. Respondents reported important gender differences in terms of income level and marital status, while in other self-reported socioeconomic variables there were no major differences. Women tended to have their own elected physician far more frequently. In between 2000 and 2006, a statistically significant difference in self-assessed economic status of households was noted, as well as differences in terms of all other health-seeking behavior variables and self-perceived health variables. The Serbian example of growing inequalities between elderly men and women, gives us a clear hint of what is going on in Eastern European ageing populations. Pan-European strategies, to be embraced by the national governments, should definitely regard gender specific polices on ageing as one of the top long term priorities.

Behavioural Intention to Use Forensic Accounting Services among Small and Medium Enterprises in Malaysia

Abstract: Unlike auditing, forensic accounting applies more analytical skills and in depth analysis on company's overall performance. It is specially designed to detect business fraud. This research examines the behavioural intention to use forensic accounting services among small and medium enterprises (SMEs) in Malaysia. Since SMEs industry is growing rapidly and has large opportunity to expand in future, fraud detection method must be improved. Cross-sectional study by using adopted survey questionnaires distributed to SMEs in Selangor, Wilayah Persekutuan, Johor, Perak and Pulau Pinang is carried out. Pearson Correlation Analysis and MLR analysis are applied to analyse data collected and proposed hypotheses. The result of the research could contribute to future studies that are related to forensic accounting and fraud prevention among SMEs. Past studies related to this topic are mainly focus on large companies. Hence, this research could also fill up the research gap and serve as references for industries leader to understand the factors that lead to the underutilisation of forensic accounting services among SMEs.

Formal Networks among Tourism Enterprises: Peculiarities of the Italian Solution

Abstract: The globalization of markets creates the need for partnerships among enterprises. Business aggregations improve efficiency and competitiveness, mitigating SMEs’ size disadvantages. However, networks are not always naturally established and therefore sometimes need to be fostered. Among networks, formal networks subject to law are also perceived as safer and more reliable from third parties’ perspective. These factors find full expression in the Italian social and business scenario. This study examines tourism entrepreneurship, analysing the ‘business network contract’ or Contratto di Rete d’Imprese into this specific economic sector. This contract created in Italy and in continuous evolution is a model of formal aggregation used to bind entrepreneurs to a formal network.

Financial Performance of Initial Public Offerings: Companies listed on Dares Salaam Stock Exchange

Abstract: The purpose of this study is to examine the difference in financial performance before and after Initial Public Offerings (IPOs) in companies listed in Dar es Salaam Stock Exchange (DSE) in Tanzania. The company financial performance is measured by using accounting performance ratios. Quantitative hypothesis regarding the difference between pre-IPOs and post-IPOs financial performance is tested by computing a significance test on the difference between the mean score of the pre-IPOs and the mean score of the post-IPOs financial performance. The findings indicate there is significant difference between pre-IPOs and post-IPOs financial performance. Specifically, the findings indicate there is significant increase of post-IPOs financial performance. At least, the study indicates there is no significant evidence that pre-IPOs performance is higher than post-IPOs performance. However, the study indicates the results depend on the measurements of performance used in the analysis. The study is of value to various stakeholders who are interested in the financial performance of listed companies in developing countries, particularly in Sub-Sahara Africa. Specifically, these findings are useful to current and potential investors in stock exchanges in developing countries in general and DSE in particular. The findings have policy implications in terms of justifying the regulatory status, shareholder monitoring and governance of listed companies because the results indicate at least performance was listed companies do not deteriorate after IPOs. This has implication in attraction of investment from both domestic and foreign investors because it increases the confidence of investors as they become more optimistic about future performance of IPOs.

Applying Anholt's National Branding Model: The Case of Kenya

Abstract: In essence, branding a country improves its profile and reputation, thereby enabling it to attract foreign direct investments while making it an ideal destination for tourism and trade. For this reason, governmental entities are beginning to employ branding strategies to sell their regions and countries to the rest of the world. This phenomenon has resulted in a new concept of marketing called place branding. With Kenya seeking to position itself as an attractive investment destination and with aspirations of becoming a middle-income country by the year 2030, it is essential to identify the critical place branding strategies and ensure these are incorporated into the country’s strategic plan (Vision 2030) in order to compete effectively against competition. Accordingly, the researchers extensively review existing literature relating to place branding. From the analysis, the authors propose a conceptual framework for strategic place branding for Kenya. The paper concludes by suggesting areas that future studies should address.

The Determinants of Aggregate Demand Function of Sudan

Abstract: The main objective of this study is to estimate the determinants of the aggregate import demand function for Sudan during the period 1978 to 2014. The year 1978 was chosen because was the first year of devaluation as recommended by the IMF, and the year 2014 where the data were available. The study tests the stationary of individual series namely, domestic income, relative prices and exchange rate using the widely used the Augmented Dickey-Fuller (ADF) and Phillips-Peron (PP) statistics and Johansen co-integration techniques to estimate import demand function in the longrun. The estimated results indicate that there is long-run co-integration relation among the volume of imports, domestic income, relative prices and exchange rate. The results of this study suggest that GDP has greater effect on the quantity of import than the other determinants (price ratio and exchange rate).

Factors Determining the University Counselling Services Effectiveness

Abstract: This research attempts to study the impact of the counselling services in universities in Melaka. It should be noted that the need for counselling services is important to improve the quality of life of the students. This service has helped students to achieve academic achievement has been confirmed by several studies. Therefore, this research explained the potential of the counselling services to enhance the coping skills, social skills, study skills among students in pursuit of academic achievement and adjustment to campus life. This research has been done in 4 universities in Melaka, Malaysia with a total population of 564 students. As counselling is highly confidential and the students receiving the services will not be traced as researchers had to abide by the code of ethics of a counsellor. The study showed that school counselling interventions have a substantial impact on students’ educational and personal development. Individuals and small group counselling, classroom guidance and consultation activities seem to contribute directly to students success in classroom and beyond. School counsellors should spend the majority of their time performing these interventions.

The University: An Institution of Co-creation and Social Transformation

Abstract: This study draws on the implementation of the Bologna Declaration and the daily life of universities, to appraise the process’s objectives whilst comparing them to its outcomes. The concepts of European University convergence, global training of students and a more balanced society are objectives that the Bologna Declaration enshrines. Yet, for its implementation, a knowledge-based society calls for a greater plasticity of skills to improve economic and social performance. This study relies upon questionnaires to university students, held in 2008, 2009 and 2015. Evidence unveils a somewhat slim knowledge pertaining to aspects of the Bologna process, which may have negative external economies about the autonomous workload each student should devote to course units, as well as to the hierarchy and management of their tasks. This evidence also unveils thatstudents are sensitive to the five global development processes of the person in line with the multiplicity of Gardner’s intelligences. Hence, education should endow students with comprehensive and not just specific skills. Therefore, we consider it urgent to redefine the guidelines that make the University an institution of co-creation and social metamorphosis, adaptable to the 21st century.

The Internationalization of Hungarian Small and Medium-Sized Enterprises

Abstract: This paper offers some empirical evidence concerning Hungarian knowledge-intensive industries by analysing the extent of internationalization among innovative and non-innovative small and medium-sized enterprises (SMEs). The main methods were an on-line survey specifically developed for the project and some interviews. The survey was responded to by 246 SMEs from four knowledge-intensive, technology-oriented sectors. An important feature of the paper’s contribution is that it looks not only at “classical” forms of internationalisation such as involvement in exporting and FDI; it also shows the results of “contemporary internationalization”-for instance, from participation in international research and innovation networks. “Classical” internationalization provides a rather limited impetus for innovation, whilst the contemporary version is constrained by the relatively low proportion of innovative SMEs. Both phenomena hamper companies’ success on the international stage. The study draws some important, evidence-based conclusions demonstrating how innovation and economic policy can improve the Hungarian economic environment. The study of relationships between types of internationalization and innovative / non-innovative SMEs is something of a novelty in Hungary and may provide important insights in policy terms into the ways in which policymakers can assist companies to join such important networks.

Anti-monopoly Policy and New System of Large Corporate Groups inGermany after World War II

Abstract: This paper discusses competition policy, in particular anti-monopoly policy and the development of a new system of industrial concentration in Germany after World War II. When examining industrial concentration in Germany, the cooperative mechanisms for corporations are the most characteristic manifestation of corporate group systems. Large corporate group systems evolved during the dissolution and reconcentration of monopolies after the war. Antimonopoly policy influenced new developments in the system of large corporate groups. Therefore, this paper discusses anti-monopoly policy and the restructuring of a system for large corporate groups. It first examines influence of the US occupation policy on monopolies in relation to monopoly deconcentration policy and antimonopoly policy in Germany. Next it analyzes anti-monopoly policy reform. Furthermore, it considers the restructuring of corporate group systems in relation to the dissolution of monopolies under the occupation policy and their reconcentration in the latter half of the 1950s. Drawing on this discussion, how large business operations were restructured through reconcentration or concentration, and how, as a result, divisions of labor in business domains developed in response to oligopolistic competition will be clarified.

Growth, Challenges and Issues related to Micro, Small and MediumEnterprises (MSMEs) in Jammu and Kashmir

Abstract: Micro, Small and Medium Enterprises (MSMEs) have played an imperative role in the economic activities of advanced industrialized countries like Great Britain Germany, Japan, and the United States of America. In developing countries like India, these industries or Enterprises have an enormous importance due to its high level employment potential with low capital cost. MSMEs are also supporting in industrialization of rural backward areas. This sector is also called the nursery of entrepreneurship. This study is regarding Jammu and Kashmir (JK only MSMEs/SSI units are growing after a long gap of disturbance. From last two decades MSMEs/SSI have been growing in a satisfactory pace as per circumstances of the state. However these enterprises are facing different hurdles in overall growth and development like poor infrastructure, shortage of electricity, political instability and financial problems. Government is outlining different policies and schemes for the growth of this sector but unfortunately failing to complete their objectives. This paper will draw attention towards Growth, Challenges and Issues related to Micro, Small and Medium Enterprises (MSMEs) of J&K.

Multi-Regional Growth, Agglomeration and Land Values in a Generalized Heckscher-Ohlin Trade Model

Abstract: This paper builds a general equilibrium interregional trade model with any number of regional economies by unifying the Solow-Uzawa growth and Heckscher-Ohlin (H-O) trade theories We study the roles of population, land, preferences and technological differences between regions in determining dynamics of national wealth, patterns of interregional trade, economic structures, and income and wealth distributions between different regional households in a general equilibrium dynamic framework The paper deals with endogenous wealth accumulation, land values, residential land-use, and labor and capital distribution between sectors and between regions under perfectly competitive markets and free trade Each region has three sectors, producing one national homogenous tradable capital good, specifying in producing one tradable commodity, and supplying non-tradable goods and services We simulate the model to show existence of an equilibrium point and movement of the interregional economy We examine the effects on the equilibrium point in exogenous changes of the land, the population, a region’s amenities, and the preferences for a regional good, saving, housing, and residential density

Impact of Human Capital Input and Institutional Factors on Productivity of Female Staff in Princess Nourah bint Abdulrahman University (PNU

Abstract: This study discusses the impact of human capital input and institutional factors on female staff productivity of Princess Norah University (PNU) in Saudi Arabia. A descriptive analysis model (Achieve) was used, consisting of seven individual and institutional factors. One sample T-Test, regression and correlation analysis tools were used. Main findings of the study were: Ability factor had the highest impact on PNU female staff productivity. Environment, Incentive, Validity and Evaluation factors had limited effect on female productivity in PNU. To boost the female staff productivity, the study recommended that more investment on human capital is required, promoting the work environment, developing the evaluation and incentive systems providing strong support for female staff by the university administration.

Liquefied Natural Gas as an alternative fuel: a regional-level social cost-benefit appraisal

Abstract: The impact from traditional marine fuels has the potential of causing health and non-health damages and contributes to climate change. Here, the introduction of Liquefied Natural Gas (LNG) as an energy end-use fuel for marine purposes is analysed. The aim of this study is to verify LNG’s policy implementation feasibility as a step-change for a low carbon perspective for shipping by means of developing a social cost-benefit analysis on a regional basis. Emissions from the Portuguese merchant fleet, weighted by their contribution to the National Inventory, were used to quantify and monetise climate, health and non-health externalities compared with benefits from LNG as a substitute fuel. Benefits from the policy implementation are those related to the reduction of external environmental, health and non-health impacts. Costs are those that nationals are willing to pay for. In this sense, to estimate the value of the atmospheric air - a non-market commodity - people were asked about the price they hypothetically are willing to pay by responding to a specific questionnaire. The present study, based on a social cost-benefit analysis, indicates that benefits are almost 8 times superior to the costs and is consistent with real world efficiency gains. Although it addresses Portuguese particularities, this methodology should be applied elsewhere.

Profile and Marketing Strategy of SME’s Towards Jambi Batik

Abstract: One of Indonesian culture that is an asset of the ancestors and must be preserved is batik. Almost every province of Indonesia has a unique batik. But not all regions of Indonesia can maintain and preserve the batik industry. One of the main problems in batik products in Jambi lies on marketing aspect. This research aims to design various marketing strategies (product, price, place, promotion). So that Jambi Indonesian batik can keep growing both local and international market. Researched as many as 10 SMEs Jambi batik by way of purposive sampling. Data were collected by using observation, interview and FGD to business owners, employees, cooperatives, and consumers. The research analysis was conducted qualitatively using interactive model. The result of this study pictures that batik entrepreneurs in Jambi comes from hereditary business, from generation to generation. The business potential is huge to be further improved. From marketing strategy including product strategy, price, distribution and promotion have been done. But it has not been done optimally. So it needs to do some improvements so that the strategy can be done more optimal. There are still some issues that need to be improved, such as from product strategy: it is necessary to plan batik innovation into ready-made clothing not only batik cloth. From price strategy: need to create cheap price that can compete with batik price from Java island. From the distribution strategy: the product should not just wait to find a wider market. From the promotion strategy: to better utilize the technology, in order to reach the overseas market. Through the improvement is intended for SMEs Jambi batik can face competition with other business sub-sectors. Thus Jambi batik continues to be preserved its existence.

The Economic Significance of People Skills for Effective Enterprise Management

Abstract: Continuous development of personal and managerial skills is crucial, in order to achieve most efficient management approach, particularly in economic environment stressed by recession and shortages in the labor force. The relevance of this paper is related to importance of development of enterprise personnel’s skills. Examination of the object of the research, namely, Personal Skills, that is defined as “P” side of the person’s evolution model, allows to define what skills lie within it and to develop some expertise in those skills. The goal of this research is to develop a framework of person’s self-esteem transformation into de-sire to develop managerial skills that are extremely vital to rise own competitiveness in tough economic environment. I scope of this study, a research project at university was conducted, involving social scienc-es students, examining the patterns of behavior displayed by group members. The main finding of this the-sis is definitions of a process to forecast success of a project, based on testing and allocating individuals prior to team formation. Whilst, it is easier to predict teams that will fail than those which would succeed.

Competitive Advantages of Bamboo Creative Products: Study on Saung Angklung Udjo Bandung City West Java Province, Indonesia

Abstract: This study examines the advantages of local bamboo-based creative products that impact on the economic value and prosperity of the perpetrator the neighborhood community. Focus on the superiority of bamboo instruments with the case Saung Angklung Udjo (SAU), Bandung West Java Province, Indonesia. The qualitative descriptive approach is used, that is conducting in-depth interviews and documentary studies. Primary data are collected from key informants who know the history of SAU’s journey since its establishment up to now, consisting of owner, management, staff, craftsmen, players, observers/experts, visitors and stakeholders. Secondary data are collected from documents on SAU, whether from books, journals, reports, newsletters, the Internet and other qualitative data. The objective of the research is to answer the question of how SAU management can focus on bamboo musical instrument business which originally becomes international. The results show that SAU is an effort of traditional culture organization, unique and original region can have competitive advantage so that become cultural value of a nation that can lift image of region and nation of Indonesia besides can give economic impact, giving prosperity for perpetrator and environment of surrounding society.

Acedia: One Fundamental Cause of Philippine Poverty

Abstract: Poverty is a condition or as experts say a disease of the society that is traditionally characterized by the lack or insufficiency of basic human needs, such as potable water, sufficient nutrition, health care, essential education, clothing and shelter, because of the incapacity to afford them. However, this term is relative, like in some developed countries; the measurement of poverty is manifested by the condition of having fewer resources or less income than others within a society or country, or compared to worldwide averages. About 1.7 billion people live in absolute poverty; before the industrial revolution, poverty had mostly been the norm. The formal term for the near absolute lack of resources is called Extreme Poverty, while the condition of being below the norms of developed society is called relative poverty. Given such, it is now generally assumed that poverty could not be eliminated because of its relativity, but its extreme condition can be alleviated. The International Monetary Fund (IMF) stated that absolute poverty is living below the $1.25 poverty line.

Big Data & Analytics: Tackling Business Challenges in Banking Industry

Abstract: One of the key values of the banking industry has been its 'Customer-Focused' mindset, but in the new era, the trend is moving to being 'Customer-Centric'. This is because advances in technology and communication, combined with an explosive growth in data and information, have given rise to an even more empowered and aware global consumer. With this change in consumer dynamics; the banking industry has an opportunity to develop an improved customer engagement strategy. More than 70% of the banking executives worldwide say customer centricity is important to them, but do they really understand what that means? Being customer centric means; providing customer satisfaction in five core areas of the Customer-Bank relationship. The banks need to analyze their service and answer the following questions: 1. Do they really 'Know' their customers? 2. Is the 'Product-Channel' fit for their customers? 3. Are they providing a 'Multi-Channel' experience? 4. Are they making a genuine effort for 'Relationship Building'? 5. Do their customers have enough 'Confidence and 'Trust' in them? 6. How can the banks get an answer to these above questions? Well the answer is through "Big Data".

Performance and Persistence Tests of Islamic Market Indices

Abstract: In a depressed global Economy and characterized by a severe crisis in the global financial system, Islamic Finance was distinguished by its resilience to the crisis. The performance of Islamic Finance tools, such as stock indices, has been the subject of several academic researches. However, the results have been conducted so far are divergent on the outperformance or underperformance of this category of indices, hence the importance of this first analysis in this area. The article presents the analytical approach leading to different performance tests before presenting the Islamic market indices that constitute our scope. Our first results help us to demonstrate that Islamic indices are not less efficient than conventional indices.

Interest Rate and Private Consumption Behaviour in Nigeria: SomeEmpirical Evidences

Abstract: This study examines the impacts of interest rate on private consumption behaviour in Nigeria between the period of 1981 and 2014 using autoregressive distributed lag (ARDL) co integrations framework. The data were sourced from the World Bank development indicators; interest rate was augmented with other macroeconomic variables like per capita income, money supply, and banking sector credit to the private sector as regresses in determining the behaviour of private consumption in Nigeria. The results confirm the existence of relationship between private consumption and its determinants, except real interest rate and the dummy for the impact of interest rate deregulation. The study therefore recommends increase in government capital expenditures that will create an enabling environment for the private sector to thrive so that the welfare of the citizenry could be enhanced

Does Market Information Processing Improve Product Innovation Successof Small and Medium Enterprises

Abstract: Does market information processing improve product innovation success of small and medium firms? Innovation is inherently an information processing activity. An important element of information processing is the use of market information. While some researchers argue that entrepreneurs do not need formal processes to collect, disseminate and use market information, others suggest that the use of formal market information processes is positively related to product innovation success. Therefore, the main objective of this study is to assess whether market information processing improve product innovation success of small and medium enterprises. To achieve the objective, a triangulation method (qualitative, quantitative and descriptive) was employed in the investigation. Instruments used to collect data were pre-test, post-test, interviews and questionnaires. A series of hypotheses are posited to explore the relationships of the variables. A field survey administered to 425 small and medium enterprises in the manufacturing and services sector are used to gather the data. Out of the 425 surveys sent, hypotheses are empirically tested using structural equation modelling software’s (AMOS) and regression analysis on a data set of 388 firms. Based on the analysis, all hypotheses are supported. According to the findings of this study, all market information processing activities, acquisition, dissemination and utilization are positively significantly correlated. As general market information processing activities positive significant (p<.001) effect on product innovation success of SMEs. The results revealed that the higher effect of market information processing determines high level of product innovation success. Therefore, we suggest that the development of market information processing activities is an important instrument for the small and medium enterprises to achieve a high level of product innovation success.

The Role of Organizational Culture in Enhancing Innovation Potential. Consequences on the Market Performance of Romanian Firms

Abstract: Organizational culture is the profound force that gives power to an organization. Managers influence organizational performance by optimizing processes, improving coordination between departments and between employees, by choosing appropriate strategies. Organizational culture identifies in purpose as a structural component of society, hence the role of the social action instruments and implicit the role of the state. The present article tries to identify the reserves of these entities in growing the market performance of companies in Romania.

Dynamics and Sources of Expenditure Inequality in Bhutan: Theil andBlinder Oaxaca Decomposition Analysis

Abstract: The distinct feature of Bhutan is its special attention to peace, prosperity and happiness for its people This research focuses on the expenditure inequality for 2007 and 2012 using various measurements including Gini Coefficients, Theil Indices and Blinder-Oaxaca decomposition The results show that “between” rather than “within” inequality is the major factor contributing to the overall inequality Thus, reducing inequality within rural and urban areas, within districts and even among the men and women should be the focus in future endeavors for better equity in the society

The Interrelationship between Crude Oil Price Volatility and Money Market Rate Volatility in a Developing, Oil-Producing Economy

Abstract: This study evaluates the interrelationship between crude oil price volatility and money market rate volatility in a developing, crude oil producing economy using monthly time series observations from January 2002 to December 2014. The results obtained from a BEKK specification of a multivariate GARCH (1,1) model indicate that shocks and increased volatility from crude oil prices and money market rates influence their current volatilities. The result also show evidence of volatility persistence in crude oil prices and money market rates in Nigeria. The results further provide evidence of significant unidirectional volatility spillovers from crude oil prices to the money market in Nigeria. These findings are important because they provide a strong indication that crude oil price volatility is a very strong variable in determining the money market rates volatility in Nigeria.

Key Performance Indicators (KPIs) Impacts in Project Management

Abstract: As regards to project success, there are Key Performance Indicators (KPIs) should be involved in the project management process, KPIs are organizational based. They have quantitative metric value and basically should be presented in term of management dashboard and be adopted by projects managers.

About Relationship between Education, Investment and Growth:Identification and Causality for 5 MENA Countries - (Algeria-Egypt-Morocco-Tunisia and Turkey)

Abstract: This paper investigates causality direction between education, material investment and economic growth in a panel of five MENA countries (Algeria, Egypt, Morocco, Tunisia and Turkey) during1975 to 2014. Specifics results by country will be identified about the direction of causality between the three variables. In empirical estimations we used Ganger causality tests, variance decomposition and impulse response functions to a panel data framework through the Arellano- Bond difference GMM estimator. First, we identify a causal relationship between education and economic growth as well as between education and investment. In addition, we found that the education causes economic growth after three years whereas economic growth causes the education after only one year. The results also confirm a transmission mechanism that runs from education to economic growth through material investment. This shows that increases in human capital should boost the return on physical investment. Consequently, sustaining economic growth can be performed by investment and education. Finely, according to the results we approve that emphasizing on physical investment instead of sufficient care on human capital investments is not the better way to achieve growth at medium and long run.