Scientificia (E-Journals)
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Impact of liquidity and Management Efficiency on profitability
Get PDFThis study investigated the impact of liquidity and management efficiency on profitability of select power distribution utilities in India. The study consist a sample of 23 power distribution utilities operating in India for the period of 2004-05 until 2013-14. Therefore the total panel (balanced) observations are 230. The return on capital employed is used as a measure for profitability explaining dependent variable, whereas a current ratio, quick ratio, absolute cash ratio, debtor turnover ratio, creditor turnover ratio, collection efficiency, interest coverage ratio are representing independent variable. Statistical tools such as Generalized Least Squares (GLS) regression are applied. The study found that debtor’s turnover ratio, collection efficiency and interest coverage ratio are showing a significant impact while quick ratio, absolute liquid ratio and creditor’s turnover ratio show an insignificant impact on the profitability of select sample utilities.
Research paper
Reference to this paper should be made as follows: Azhar, S. (2015). “Impact of liquidity and Man-agement Efficiency on profitability: An Empirical Study of Selected Power Distribution Utilities in India”, Journal of Entrepreneurship, Business and Economics, Vol. 3, No. 1, pp. 31–49
Strategic Real Estate Development
Get PDFStrategic Real Estate Development (Strategic RED) is the contemporary framework that integrate both Resorce-based View (RBV) and Industrial Organization (IO) paradigm. Strategic RED have many complex variables and indicators, to test the hypotheses need a mix method, combination of QUANTITATIVE and qualitative methods, because the results of the first quantitative study needs to be deepened with qualitative study. The research design using sequential explanatory strategy, This model of combination research give more higher weight to the use of quantitative research methods. This mixed sequential explanatory design first examined the relationships between environment riks, core competence, competitive strategy, competitive advantage, and organizational performance. 200 real estate companies will asked the hypotheses and analyze with partial least square technique in the quantitative design. In a second phase of the study, further exploration of result of relationships be-tween contributing variables was explored through qualitative semi-structured interviews with CEO, Senior Manager, and Expertist in real estate development. Interviews were recorded, transcribed, and then analyzed for themes.
Conceptual paper
Reference to this paper should be made as follows: Hastjarjo, K. (2015). “Strategic Real Estate De-velopment: Mixed Method Using Sequential Explanatory Strategy – Research Methodology”, Journal of Entrepreneurship, Business and Economics, Vol. 3, No. 2, pp. 65–85
Firm investment behavior in Kenya
Get PDFTo promote growth manufacturing industry in Kenya, the government must address various chal-lenges that include low level of investment. But this first require that the policy makers to have under-standing of firm‟s investment behavior to inform possible policy interventions. This paper uses modest panel data analysis to explain how interest rate, firm size, cash flow, uncertainty and locality of a firm impact on firm‟s investment in Kenya. The study finds that the cash flow has a significant influence on investment and relatively smaller firms invest proporionally more than larger firms. The study thus recommends policy shift towards stimulating investment in small firms, relative to large firms and rolling out financing models to build capacity in emerging firms.
Research paper
Reference to this paper should be made as follows: Ng‟ang‟a, P. (2015). “Firm investment behavior in Kenya”, Journal of Entrepreneurship, Business and Economics, Vol. 3, No. 1, pp. 81–104
Economic Process and Entrepreneurship
Get PDFThere is a robust body of knowledge around the theory of Entrepreneurship, but the lack of a compre-hensive and widely accepted view to describe this phenomenon is obvious. There is two main streams in entrepreneurship literature, first the Schumpeterian view which emphasizes on ideas, innovation and creativity and second view, known as Kirznerian point that views opportunities of market as the core of entrepreneurship .This conflict can be easily understood from Kirzner‟s words that says” Schumpeter‟s entrepreneur, I pointed out, was essentially disruptive, destroying the pre-existing state of equilibrium. Entrepreneur, on the other hand, was responsible for the tendency through which ini-tial conditions of disequilibrium come systematically to be displaced by equilibrative market competi-tion”, which are paradoxical to some extent. In this paper, author believes that there can be issued a new conceptual framework about the entrepreneurship. This framework views entrepreneurship in an economic, product-transaction-based process. The value of entrepreneurial activities is arisen from mutual interests of human beings, which is the neglected part of Schumpeter and Kirzner‟s views to the phenomenon Entrepreneurship.
Conceptual paper
Reference to this paper should be made as follows: Rezaei Mirghaed, M. (2015). “Economic Process and Entrepreneurship”, Journal of Entrepreneurship, Business and Economics, Vol. 3, No. 2, pp. 86–109
Identification and Analysis of Entrepreneurial Strategies preserving Schumpeterian Rent
Get PDFPurpose- As any increase in the price of resources and any imitation by competitors decrease entre-preneurial rent, the entrepreneurs should use some kind of strategies to preserve this rent. We used resource based view as a lens for finding these strategies.
Design/methodology/approach- For conducting this research, qualitative method was used and qual-itative research questionnaire was formed based on Peteraf model, 15 entrepreneurial companies have participated for completing this study.
Findings A total of 13 strategies have been identified and analyzed which are: Pioneering strategy, Economy of Scale, Establishing reputation and brand, Creating continuous innovation, Secrecy and ambiguity strategy, Franchise development, Control of resources, Legal barriers, Compromise with competitors, Selecting strategic location for business, Sharing profit with resource owners, Supplier diversification and Vertical integration.
Research Implications- Entrepreneurs can use these strategies to preserve their rent. In addition, the researchers can use these results for further research and developing the literature of entrepreneurial strategies which was not rich before presenting this research.
Originality/value- This is the first qualitative research which tries to identify entrepreneurial strate-gies through the resource-based view lens. Furthermore the research tries to differentiate entrepre-neurial strategies from non-entrepreneurial strategies for the first time.
Conceptual Paper
Reference to this paper should be made as follows: Asadi Sisakht, K., Jalili Orumieh, S., Talebi, K. (2014). “Identification and Analysis of Entrepreneurial Strategies preserving Schumpeterian Rent”, Journal of Entrepreneurship, Business and Economics, Vol. 2, No. 1, pp. 41–62
Association of Total Shareholder Return with other value based measures of financial performance
Get PDFPurpose- The purpose of this paper is to examine the relationship between total shareholder return (TSR) and other value based measures like created shareholder value (CSV), market value added (MVA), and economic profit (EP) in Indian banking sector and provide empirical evidences.
Design/methodology/approach- The paper uses a sample of 21 listed Indian banks segregated into 10 public sector banks and 11 private sector banks. The study period ranges from year 200-01 to 2009-10. Pooled ordinary least square regression is used to test the relationship between the variables in question.
Findings- The results reveal that CSV, EP individually explain the variation in TSR of Indian banks. Whereas, MVA as an individual independent variable does not explain variation in TSR of Indian banks. However CSV, MVA and EP jointly explain variation in TSR of Indian banks.
Research limitations/implications- The study was specifically restricted to listed banks in India. It did not consider unlisted banks.
Originality/value- Author concludes that individual value based measure should not be blindly used while measuring the shareholder value creation by a firm. Rather, a mix of these measures should be used to accurately measure the shareholder value creation.
Research paper
Reference to this paper should be made as follows: Pandya, B. (2014). “Association of Total Share-holder Return with other value based measures of financial performance: Evidence from Indian Banking Sector”, Journal of Entrepreneurship, Business and Economics, Vol. 2, No. 2, pp. 26–44
An Entrepreneurial Business Model for Personal Branding: Proposing a Framework
Get PDFPurpose- Personal branding has become a mature field of research; however, there are many ques-tions to be answered yet. One of the most important questions is that what does a typical entrepre-neurial business model look like?
Design/methodology/approach- To answer the above question, the present paper tries to use meta-analysis approach to making an integrated view of the extant literature. Thus, 25 papers, which were mainly focusing on the topic, was selected and critically reviewed. Finally, a framework is proposed based on Osterwalder's (2004) approach.
Findings- Findings of this research are mainly focused on the characteristics of each dimension in the entrepreneurial business model for personal branding.
Research limitations/implications- Research implications imply that a typical entrepreneurial busi-ness model for personal branding might be helpful for both entrepreneurs as well as policy makers.
Research paper
Reference to this paper should be made as follows: Raftari, M. and Amiri, B. (2014). ―An Entrepre-neurial Business Model for Personal Branding: Proposing a Framework‖, Journal of Entrepreneur-ship, Business and Economics, Vol. 2, No. 2, pp. 121–139
De-terminants of entreprneurial career: Experience of polytechnic students
Get PDFPurpose- This study focuses on the factors influencing students’ choice of selecting entrepreneurship as their career after graduation. The paper aims to gain more understanding of how personality traits, entrepreneurship knowledge-experience and current economic environment affect entrepre-neurial career among polytechnic students in Malaysia.
Design/methodology/approach- A theoretical framework based on a literature review is developed. Empirical results were derived from a quantitative approach based on survey method and a cross sectional study. Hypothesis testing were executed where multiple regression analysis utilized to verify the direct relationship between independent variables and dependent variables.
Findings- Personality traits and favorable economic environment were proven important in explain-ing students intention to choose entrepreneurial career as their career choice after they graduated from study.
Research Implications- The results shall aid polytechnics management in formulating their curricu-lum and programs that fit students’ priorities that they shall choose their future undertaking as an entrepreneur. Malaysian public policy regarding higher education should consider some changes required in higher learning institutions in the country. Annual budget and higher learning institutions entrepreneurship programs shall be revised accordingly after considering the results of the study.
Originality/value- Entrepreneurial intention inquiries in Malaysian institutions have been very limited and an established framework need more serious efforts. This study contributes to entrepreneu-rial intention body of knowledge.
Research Paper
Reference to this paper should be made as follows: Awang, A., Ibrahim, I. I., Ayub, S. A.(2014). ―De-terminants of entreprneurial career: Experience of polytechnic students‖, Journal of Entrepreneur-ship, Business and Economics, Vol. 2, No. 1, pp. 21–40
The Risk Level of Viet Nam Medicine and Medical Equipment Industries Under Financial Leverage During and After The Global Crisis 2007-2009
Get PDFPurpose- This research paper evaluates the impacts of external financing on market risk for the listed firms in the Vietnam medical industry as it becomes necessary, esp. after the financial crisis 2007-2009.
Design/methodology/approach- First, by using quantitative and analytical methods to estimate asset and equity beta of total 10 listed companies in Viet Nam medical industry with a proper traditional model. Second, we used three scenarios. Finally, leverage changed in three scenarios.
Findings- We found out that the beta values, in general, for many institutions are acceptable. Under 3 different scenarios of changing leverage (in 2011 financial reports, 30% up and 20% down), we recognized that the risk level, measured by equity and asset beta mean, decreases when leverage increases to 30% and it increases in case leverage down to 20%. Third, by changing leverage in 3 scenarios, we recognized the dispersion of risk level, measured by equity beta var, increases if the leverage increases to 30%. Compared to the results of other industries, we see that asset beta var in here increases when leverage up to 30% as well as that in consumer good industry.
Originality/value- Finally, this paper provides some outcomes that could provide companies and government more evidence in establishing their policies in governance.
Research Paper
Reference to this paper should be made as follows: Huy, D.T.N. (2014). “The Risk Level of Viet Nam Medicine and Medical Equipment Industries Under Financial Leverage During and After The Global Crisis 2007-2009”, Journal of Entrepreneurship, Business and Economics, Vol. 2, No. 1, pp. 74–87
Delineating social entrepreneurship from related terminologies
Get PDFPurpose- Social entrepreneurship is gaining ground rapidly as a field of research and practice and attracting increasing interest within the policy-making authorities, research on social entrepreneur-ship still falls far behind the practice. The different concepts used by the literature are often defined unwell and can take on a variety of meanings with little consensus so far reached among scholars. The concept of social entrepreneurship continues to convey different things to different people and there is no clear understanding and uniformity on where to locate it and on how to qualify social entrepreneurs. The paper is an attempt to clarify the boundary of Social Entrepreneurship and differ-entiating it from related concepts like: Corporate Entrepreneurship, sustainability and self-sufficiency, earned income strategies and social purpose businesses etc.
Design/methodology/approach- To do so, secondary data had been used. The methodology involved the extensive use of Literature review in the field of Social Entrepreneurship.
Findings- It can be said that definitions of social entrepreneurship and social enterprise vary to a great extent at the international level with a number of authors using the two interchangeably. The clarity has been provided in differentiating various related terms.
Research Implications- There has been lot of confusions about to whom we can call social entrepre-neurs and what are the differences which make social entrepreneurs apart from their related commu-nities. More clarity on the concept will add to provide more ground for the expansion of social entrepreneurs.
Originality/value- The present study is among the first study to clarify the similarities and differences in the field of Social Entrepreneurship and thus lays the foundation on which further research in the field of Social Entrepreneurship could be carried out.
Research Paper
Reference to this paper should be made as follows: Nigam, S., Narang, A., Narang, Y. (2014). ―De-lineating social entrepreneurship from related terminologies‖, Journal of Entrepreneurship, Business and Economics, Vol. 2, No. 1, pp. 1–20