Management Dynamics in the Knowledge Economy (E-Journal)
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Effect of Corporate Governance Structure and Financial Reporting Quality of Quoted Pharmaceutical Companies in Nigeria
Get PDFThe study investigated the Effect of Corporate Governance Structure and Financial reporting quality of quoted Pharmaceutical companies in Nigeria. A total of ten Pharmaceutical companies were used from 2006-2019. Data were extracted from the annual report and accounts of the Pharmaceutical companies in Nigeria. Financial reporting quality was calculated using Dechow and Dicher’s (2002) model. The Housman test of multiple regression analysis was employed to test the hypotheses. The result found that Board independence has a positive effect on the financial reporting quality, Board compositions have a positive and significant effect on financial reporting quality, Board meeting has negative association on the financial reporting quality of pharmaceutical companies in Nigeria. The ownership structure also reflects the positive and significant financial reporting quality of the selected companies. The number of times the risk management committee meets yearly as an indicator of corporate governance structure yield a positive influence on the financial reporting quality of selected pharmaceutical companies. The result for a ratio of female members in the board, i.e. gender composition and numerical strength of Audit committee members each, is yielding positive and significant effect on financial reporting quality. The r-squared outcome of 55% implies the ability of the selected pharmaceutical companies in Nigeria. The regression model is also supported by the outcome of Durbin-Watson statistics which is close to 2, indicating the possible absence of autocorrelated in the regression model. It, therefore, recommends that quoted firms should adhere to the guidelines given by CBN and SEC on the code of corporate governance as it affects their financial reporting quality. Regular and spontaneous supervising functions/checks by the different regulating agencies are also recommended
Cultural Intelligence as a Core Competence of Inclusive Leadership
Get PDFWe live and work in a fast-paced multicultural world where change is becoming a new constant. In this context, in which racially and ethnically diverse companies are 35% more likely to perform better, inclusive leadership’s role becomes crucial. Knowing to handle and fructify diversity and inclusion (DI) is now crucial for any multicultural businesses' expansion and development. On the other hand, cultural intelligence (CQ) refers to relating and working effectively and efficiently in culturally diverse situations. The purpose of this paper is to study and present a systematic bibliometric literature review focusing on cultural intelligence as a core enabler of inclusive leadership (IL). Our findings, rooted in the Web of Science Core Collection database and powered by VOSviewer bibliometric software, demonstrate that cultural intelligence is not only a main competence for both multinational leadership and global management but also a primary facilitator of inclusive leadership. Concretely, this research visually indicates a comprehensive direct link of the fields relating to CQ on one side and the ones related to multicultural and inclusive leadership on the other side. The bibliometric analysis is supposed to provide a solid reference for practitioners and researchers in multinational inclusive leadership's new needed competencies and also opens the door for future academic research and specific investigations
An Analysis of the Effects of the Fourth Industrial Revolution on Vietnamese Enterprises
Get PDFThe objective of this empirical study is to analyze the role of the industrial revolution 4.0 (IR4.0) on Vietnamese enterprises. The IR4.0, which relates to the breakthrough of the Internet of Things and artificial intelligence, has brought about changes in the manufacturing industry and had a significant impact on Vietnamese enterprises. A review of previous studies combined with secondary data has been applied for analyzing and supporting the evidence of the impact of IR4.0 on Vietnamese enterprises. The analysis has provided evidence that aside from its beneficial opportunities, the IR4.0 will create many challenges for Vietnamese enterprises, impacting management, operations, and the manufacturing sector. The concept of IR4.0 and its impact on enterprises and economies should be considered and the IR4.0 will accelerate the process of technological innovation. This is derived from the nature of the IR4.0, which is based on digital technology and integrates all intelligent technologies. It is evident from the data analysis and the synthesized information that Vietnamese enterprises in IR4.0 have advantages and opportunities to access the new technologies. In adapting to the requirements stemming from this revolution, enterprises should increase their investment in applying new technologies to take opportunities into the current market. Due to this issue, Vietnamese enterprises need to change and be innovative in their overall strategy, adapt and make good use of the benefits and opportunities, provide solutions to the new challenges, and achieve the competitive advantages within the IR4.0. Based on the outcomes of this study, management practitioners and researchers can refer to and apply these findings for future in-depth studies of how IR4.0 is affecting Vietnamese enterprises and make relevant recommendations
Workers' Satisfaction with Grievance-Handling Procedure: A Study on the Selected Garment Factories in Bangladesh
Get PDFEmployees are the most important asset in the organization. There should always be a good relationship between employer and employee. If employees are happy in the organization, then the organization can move towards success. Satisfaction towards grievance handling procedure is important in this regard since one of the most important consequences of mishandling of grievances is labor unrest. An employee’s grievance can be over the wage and salary, working hours, condition of work premises, employment conditions, etc. Keeping the views in mind, this study was conducted to examine the level of satisfaction towards different dimensions of grievance handling procedure and its influence on overall satisfaction among workers in some selected factories in the Readymade Garments (RMG) sector in Bangladesh. Data was collected using the Grievance Handling Procedure Questionnaire. A total of 284 garment workers from different garment factories located in Dhaka, Gazipur, and Narayanganj took part in the survey. Measures of central tendency, dispersion, and association have been used as part of descriptive statistics while multiple linear regression analysis has been used to identify significant predictors of turnover intention. The results indicated that four dimensions of grievance handling procedure, i.e., a decision given, time taken for solving grievance, follow up mechanism, and attitude of supervisors significantly predict workers’ overall satisfaction. However, structural features of the grievance procedure were found statistically insignificant. Finally, it was concluded that if managers and supervisors are well trained and workers’ grievances are handled effectively, they will be encouraged, assured, and will have positive feelings towards their organization and this would increase their overall satisfaction and, thereby, productivity
Improving Wealth Management Strategies Through the Use of Reinforcement Learning Based Algorithms. A Study on the Romanian Stock Market
Get PDFIn the context of the growing pace of technological development and that of the transition to the knowledge-based economy, wealth management strategies have become subject to the application of new ideas. One of the fields of research that are increasing in influence in the scientific community is that of reinforcement learning-based algorithms. This trend is also manifesting in the domain of economics, where the algorithms have found a use in the field of stock trading. The use of algorithms has been tested by researchers in the last decade due to the fact that by applying these new concepts, fund managers could obtain an advantage when compared to using classic management techniques. The present paper will test the effects of applying these algorithms on the Romanian market, taking into account that it is a relatively new market, and compare it to the results obtained by applying classic optimization techniques based on passive wealth management concepts. We chose the Romanian stock market due to its recent evolution regarding the FTSE Russell ratings and the fact that the country is becoming an Eastern European hub of development in the IT sector, these facts could indicate that the Romanian stock market will become even more significant in the future at a local and maybe even at a regional level
Financial Development and Private Sector Investment in the post-financial liberalization era in Tanzania
Get PDFThis paper examines the relationship between financial development and private sector investment in the post-financial sector liberalization episode in Tanzania. The proxies for financial development were the financial market depth index and financial institutions depth index. Applying Autoregressive Distributed Lag (ARDL) technique, the results show the nexus between financial development and private sector investment in Tanzania. We find that the financial market depth index has a positive and significant impact on private sector investment in the long run but not in the short run. This is linked to the underdevelopment of capital markets in Tanzania at present. Similarly, we find that the financial institution depth index positively and significantly impacts private sector investment in both the long and short run. The degree of openness of the economy recorded a positive and significant impact on private investment in both periods suggesting that it has played a critical role in the financial development and growth of the private sector in Tanzania. In contrast, we observe that the real exchange rate has recorded a negative and significant impact on private investment in the long and short run. This suggests that appreciation of the real exchange rate had a negative impact on private investment. We recommend increasing financial openness and reinforcing the financial regulatory reforms to widen and deepen the financial system that can effectively support the mobilization of short, medium, and long-term finance for private sector investment
Toward Preventive Management of Risks Theory: Foundation of Process Structuring the Theory
Get PDFThe preventive management of risks in enterprises has a pivotal role in preserving the value created in the business processes. Despite the notable importance of this area of study, it has received little attention from researchers. A deep investigation and analysis of the literature on risk management led to reveal that there is a need for a solid foundation of preventive management of risks theory. Although the contribution of the previous studies in the area of preventive management of risks, by identifying the pillars that constitute it, and highlighting the contribution of the integration of risk management and knowledge management in preventing risks. However, we may only consider these studies as preliminary steps in the development of this new field since they did not justify the integration of different disciplines to generate a new one. Moreover, they did not provide any operational process that structures this paradigm. Thus, we aim through the present study to take one further step in the foundation of preventive management of risks and to develop an operational process that regulates this field by coupling a knowledge management process with the process of the integrated management of risks and business processes. This integration has followed a rigorous and strict methodology to justify and accept the integration of two separated fields in one single field as a scientific and valid foundation. This research has succeeded to provide theoretical implications and a conceptual model for preventive management of risks, which triggers the need for empirical implications to improve the outcomes of this study.
Dimensions of Successful Succession. The case of Turago Star
Get PDFThe process of succession is influenced not just by market values, but also by familial bonds. During this case's investigation, it was discovered that sibling rivalry appears to be the source of interpersonal conflict, which is the outcome of a lack of communication over time. It would eventually have an impact on the efficiency of company succession procedures. Successor preparation entails more than just gaining information, insight, and talent. If successors are to have the legitimacy required to run a company, they must gain credibility with both internal and external stakeholders. To have a successful succession, one must first grasp the various traits that are required. This study is based on a single case analysis, primary data being collected through interviews with the family members and correlated with secondary data sources. It further analyses the direct and indirect influences of the critical success factors on the succession process out of which recommendations and an implementation plan emerge. Taking into account both internal and external factors affecting the succession process in a family business, it is suggested that, to be successful, they must recognize this challenge and address it by implementing governance structures that establish clear procedures to consider when family and business conflicts and misunderstandings arise. Such institutions must be in place before the situations they govern occur
Technological Determinism vs. Social Shaping of Technology. The influence of activity trackers on user’s attitudes
Get PDFTechnology and its influence upon society have turned into a controversial topic in today’s fast-developing world, where advances in innovation are continuous, fast, and complex. The relationship between technology and society has become an increasing interest for many researchers, trying to explore and clarify this connection. This article focuses on the psychological impact of technology, expressed through activity tracking devices, upon user’s attitudes towards pursuing an active lifestyle. To conduct the analysis, users ’ registered behavioral changes after engaging with technological devices are explored, by examining academic literature reports studies, supplemented by experimental material written by the users themselves on publicly available websites. The study proposes a deductive research design, by constructing its analysis on a relevant theoretical framework, that of Technological Determinism theory, which advocates that technology can influence society, however without being affected by humans. Nevertheless, the results of the research show that the relationship between technology and society is not that linear, as influences coming from the social environment usually interact and impact the way technology is used. This determines the consideration of an additional theoretical concept to the analysis, that of Social Shaping of Technology, and changes the dynamics of exploring the topic. Conclusions demonstrate that the relationship between user and technology can be characterized as a double-way approach, with complex and ambiguous attributes, where both forces interact and can lead to positive and constructive behavioral outcomes but also to critical and hard to control mental conditions
Over-The-Top Television Services and Changes in Consumer Viewing Patterns in South Africa
Get PDFA significant change in consumer viewing habits has taken place globally with the introduction and growth of over-the-top television services (OTT TV). In the absence of scientific evidence on television consumer behavior viewership changes, this paper's objective was to ascertain the television viewing patterns, given the rise of OTT TV services in South Africa. The study adopted a quantitative research approach using a convenience sampling method. Online survey questionnaires were distributed on reputable social media networks and collected 391 responses. The study results suggest changes to TV consumption, in that more TV consumers are binge-watching and streaming content online. Furthermore, more than five hours a day are spent online consuming TV content, especially by male respondents. The sharing of OTT TV logon credentials with family and friends is prevalent across all demographic groups. The fundamental aspect of this paper is that it illuminates the rivalry between the Pay-Tv operators and OTT TV service providers while aiding the Independent Communications Authority of South Africa (ICASA) to regulate the market.