1) On The East Asian Monetary Union:An “VAR” Analysis.
School of Political Science, LUSPIO University, Rome, Italy
Italian Society of Economist (S.I.E.)
ABSTRACT–The Asian financial crisis of 1997, progressive economic integration into the world system of countries such as China and India, the introduction of the euro in the European continent and the most recent financial crisis of “subprime” mortgages, collectively constitute the factors that have contributed over the years to search more and more regulated economic relations between the countries of South-East Asia.
The Asian financial crisis of 1997, progressive economic integration into the world system of countries such as China and India, the introduction of the euro in the European continent and the most recent financial crisis of “subprime” mortgages, collectively constitute the factors that have contributed over the years to search more and more regulated economic relations between the countries of South-East Asia. In fact, this kind of trade regionalism, would be enriched and concluded when, following the example of the European Monetary Union, the Pacific Rim countries were united under a single currency (although this situation would result in costs such as-the most important-the reduction of monetary sovereignty in favor of a supra-national organism).
The theory that studies by the end of the sixties the costs and benefits of a monetary union is that developed by Robert Mundell-later expanded to other contributions-the “optimum currency areas”. It identifies how the cost for future members of the monetary union is bigger than the increase in the risk of asymmetric shocks and less when they are exposed to the possibility of being subjected to the same or similar shock. The asymmetry is reduced by the degree of trade integration between countries (McKinnon), the level of mobility of labor and possible systems of intra-regional fiscal transfers. This study, examining a specific area of South East Asia, will focus on the symmetry of the structural shocks considering it as a precondition for forming an OCA. In particular, we will carry out a VAR to several variables in order to identify, through the function “impulse-response”, the time required to a hypothetical asymmetric shock to be distributed among all the countries in the area.
Keywords: Optimum Currency Area, Trade integration, Gravity Equation, S-VAR.
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2) Impact of Working Capital Management Policy and Financial Leverage on Financial Performance: Empirical evidence from Amman Stock Exchange – listed companies.
Dr. Khalaf Taani
Associate Professor, Department of Banking & Finance,Faculty of Finance & Administrative Sciences-Irbid National University, Irbid – Jordan.
Receiving Date:11-Sep-12 Accepting Date:20-Sep-12 Publishing Date: 01/Oct/12
ABSTRACT.–This paper aims to determine the impact of working capital management policy and financial leverage on financial performance of Jordanian companies measured in terms of net income, return on equity (ROE) and return on asset (ROA). Pearson’s rank correlation test, ANOVA F- test, and multiple regression analysis were used on 45 companies included in the industrial sector in Jordan ranked in terms of gross revenues. Results of the study indicated that firm’s working capital management policy, financial leverage, and firm size have significant relation to net income. However working capital management policy has no significant impact on return on equity (ROE) and return on assets (ROA).
Keywords: Working capital management, financial leverage, financial performance, Amman Stock Exchange, Return on Asset, Return on Equity.
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3) Export Growth of Textiles and Economic Development in Pakistan and India-A Comparative Study.
1) Anum Akmal. 2)Qasim Saleem.
Lahore Business School, University of Lahore,Pakistan
ABSTRACT-This paper investigates the difference between export of textile of Pakistan and India. Export growth is a source of economic development, especially for third world countries. Data of export of textile of India and Pakistan is taken, (from FY2001toFY2007). Paired t-test is applied to check the significant difference between exports of two countries. Result shows that export of India is greater than Pakistan which leads to increase in its economic development.
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4) How Ca We Use The Benefits of Private Shopping and Group Online Buying in E-Government ?
Okan University, Information Systems and Technology, Turkey.
ABSTRACT–Marketing tools are rapidly increasing with the high usage rate of internet and the social media channels and mobile applications. Individuals, companies and governments are widely using these platforms. Especially, electronic commerce takes the share from this rise by using these platforms for increasing the interactivity between partners and the customers. Besides, private shopping or group online buying (Groupon) concepts are more popular in these days as the reason of cheap advertising and promotion opportunities even as creating uniqueness for the individuals, sharing the new product information and increasing the interactivity by the high discount rates supports this popularity. While examining the electronic government and mobile government, we face that these rapid changes suffers as the reason of poor promotion efforts and low level usage rates. In this research, private shopping and group online concepts will be examined extensionally with applications and also, suggestions will be done for harvesting the benefits of private shopping for electronic and mobile governmental applications.
Keywords: Groupon; group online buying; social shopping; private shopping; e-government; mobile government.
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5) The IC Concept in The Strategies of Developing the Urban and Regional Communication Networks.
Maria Nowicka – Skowron, Czestochowa- University of Technology, Poland,I.C. Dima, University Valahia of Targoviste, Romania – coresponding author
Stefan Vladutescu, University of Craiova, Romania
ABSTRACT.–The human capital and structural capital constitute the primary assets of every organisation and more and more every territory: on urban, local, regional, national and global levels. Restructuring technique, technology, organisation of production and work (means of production, subjects of work, power factors and economic factors) necessitates great knowledge, competence and skills, as well as the right organisational culture and philosophy. These factors constitute the basic elements of human capital. Mutual dependency of these factors results in the need of proper management of planning, organisation and motivation as well as of controlling human capital.Business practice confirms the need of developing basic organisational features that would result in creating a unique corporate image. It turns out that an individual character of a company facilitates its winning competitive advantage. Shaping the basic variables in corporate resources enables one to identify technical, organisational, economic and social features. Creating an individual character of a company on the basis of primary material resources rarely brings the desired effect.The material character of technical, organisational and economic resources is a feature that may be easily copied by competitors. Among the distinguished features, only human capital may thus decide on the individual character of a company.
Keywords: human capital, intellectual capital, Systems and networks, Knowledge management, NETWORKING, innovation networks, Development network.
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6) Strategic Effects of Woman Fans on Football Matches1
Author:Dr. Lale ORTA
Okan University, Graduate School of Applied Sciences, Department of Sport Management.
ABSTRACT.–With the slogan of “Beautiful game will stay beautiful”, the Turkish Football Federation designed a project to be implemented in the 2011-2012 season, for enabling “Women and children under 12 years of age to go to matches free of charge”, with intent to make contributions to the future of football, increase interest, prevent violence and disorder, dissuade ugly and bad cheering, and create an atmosphere enabling families to easily watch events.
Allowing only women and children to watch the matches, which have been ordered by theTurkish Football Federation to be played without spectators in the 2011-2012 Season, began with Fenerbahce’s home match against Manisaspor. It was thought, said and written by the public opinion that Sukru Saracoglu Stadium would not be able to be filled up in any way; and that maximum 5-10 thousand spectators would attend the Fenerbahce-Manisa match played on September 20, 201. However, a first was experienced in the spectator history of the world, and Sukru Saracoglu stadium was packed with 41,663 women and children.
In 2011-2012 football season, eight matches were played in the Super League, with the attendance of women and children fans. Our study is intended for ascertaining whether women and children spectators have positive effects on matches. In this context, the numbers of yellow cards, red cards, goals and match results of the matches played with women and children fans were compared with that of the matches played between the same teams in the same season. It was tried to determine if the spectators were effective on the numbers of yellow cards, red cards, goals and match results, during the matches attended by women and children fans.
As a result, we can say that less yellow cards are shown in the matches played with the attendance of women and children fans, and consequently, matches are played in a more sportsmanlike environment and in accordance with the principles of Fair Play. Mass violence events are not observed in or around of stadiums, for the matches attended by women and children fans. Football will obtain a new visage with the new fans it gained/will gain. Preventing violence and disorder, dissuading ugly and bad cheering, and creating an atmosphere that enables families to easily watch events will enable football to reach the desirable level, and beauties in a shorter time. Women should not exist only in stadiums but also everywhere related to football.
Keywords: Football, Woman fan, Fair Play
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1 This paper was sent as presentation to the 12th Sport Sciences Congress that will be held in Denizli on 12-14 December, 2012.
7) Arbitrage using Soya Bean and Soya Oil futures contract.
Thian Cheng Lim,BEM department-Xi’an Jiaotong-Liverpool University,Suzhou, China
Zhengjiang Hu-National University of Singapore,Singapore
Ruiyang Chai-Bentley University,,Boston, USA
Abstract – We investigate the price discovery process among the futures prices of soybean and soya meal contracts in the Dalian Commodity Exchange. Granger Causality Test, Co-integration Test and Error Correction Model (ECM) will be used to measure soybean, and soybean meal future price. If the two commodities’ future price have strong relationship in short or long term, the portfolio of cross-species arbitrage was produced through Co-integration Relationship. Other factors such as liquidity, transaction costs, and other market restrictions may produce an empirical lead-lag relationship between price changes in the two markets. Moreover, all the markets do not trade simultaneously for many assets and commodities. We select the main contract from November 15th, 2005 to March 28th, 2012, which contain 1547 data respectively. All the data can be divided into two groups, one is from November 15th, 2005 to December 31th, 2010, which contain 1247 data respectively; the other is from January 4th, 2011 to March 28th. Our test results suggest a strong bi-directional causality in futures prices. We also find that the soybean contract bears the burden of convergence between soybean and soymeal prices.
Keywords: Price discovery, Granger Causality, Volatility, Spillover, Commodity markets, soya bean, soya meals.
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8) Infrastructure Development in Global Economic Meltdown: A Framework for the Real Estate Professional’s Response.
A. C. Ogbonna,B.Tech. (Est.Man.), M.Sc., Ph.D. (Project Mgt.), ANIVS, RSV,MNIM-Department of Project Management Technology, Federal University of Technology, P.M.B. 1526, Owerri, Nigeria
V.A.Akujuru,B.Sc.,M.Sc.,FNIVS Dean, Faculty of Environmental Sciences RSUST Port Harcourt, Rivers State, Nigeria
Abstract – The current global economic meltdown has major roots in real estate with the construction subsector being a very important economic indicator but also reacting faster to a recession arising from the usual resultant credit squeeze. As a response to recession, economic theorists recommend, among other things, investment in public goods such as infrastructure which itself is part of real estate. In agreement and to cope with the meltdown, this paper reviews the peculiarities of developing infrastructure and recommends the appropriate role for the built environment, and especially, real estate, professional from a developing country perspective.
Key words: Infrastructure, real estate, economic meltdown, development, real estate professional.
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9) Public Procurement Reform In Developing Countries: A Critique of the real Estate Context in the Nigerian Case.
A.C. OGBONNA-B. Tech. (Est. Man.), M.Sc., Ph.D. (Project Mgt.), PGDE, H.Dip. (Q.S.), ANIVS, RSV, MNIM, Senior Lecturer, Department of Project Management Technology,Federal University of Technology, Owerri
I. U. Kalu, Ph.D., FNIVS-Professor of Estate Management, and Dean, Faculty of Environmental Design, Abia State University, Uturu
Abstract – The Public Procurement Act 2007 in Nigeria mainly aims at economic efficiency and effectiveness consistent with best practices. The Act’s definition of procurement as simply ‘acquisition’ tends to shift attention to goods and services only, contrary to the fact that most public procurements deal with capital assets especially physical infrastructure. This paper therefore sort to determine if a real estate context exists, and its extent, within the enabling Act. Based on a literature review approach, it was found that ‘due process’ still relies mainly on the out-dated traditional design-bid-build model whose major challenges include corruption, bureaucracy, and the absence of the real estate professional in the membership of NCPP and BPP. This paper’s major conclusion is that beyond the functions that can be performed by the real estate professional, under the Act, its definition of “works” equates with land development and hence provides the clearest real estate perspective to ‘due process’
Key words: due process, public procurement, real estate perspective, reform, works.
[Download Full PDF] [Page 65-77]