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Motivation and theory of self-determination: Some management implications in organizations
Get PDFAbstract. This conceptual paper describes the important role of motivation in organizations and the Self-Determination Theory that is an approach to human motivation and personality based on humans' evolved inner resources for personality development and behavioral self-regulation. Some management implications of this theory are discussed to improve motivation of employees and performance of organizations.Keywords. Intrinsic motivation, Behavioral self-regulation, Competence, Autonomy, Relatedness.JEL. N30, O30, O31, I23
Capital structure in U.S., a quantile regression approach with macroeconomic impacts
Get PDFAbstract. The major perspective of this paper is to provide more evidence into the empirical determinants of capital structure adjustment in different macroeconomics states by focusing and discussing the relative importance of firm-specific and macroeconomic characteristics from an alternative scope in U.S. This study extends the empirical research on the topic of capital structure by focusing on a quantile regression method to investigate the behavior of firm-specific characteristics and macroeconomic variables across all quantiles of distribution of leverage (total debt, long-terms debt and short-terms debt). Thus, based on a partial adjustment model, we find that long-term and short-term debt ratios varying regarding their partial adjustment speeds; the short-term debt raises up while the long-term debt ratio slows down for same periods.Keywords. Capital structure, Quantile regression, Macroeconomy, Firm characteristics, Econometry, Total debt, U.S., Panel data, Hausman test, Fixed effects model, Unbalanced sample. JEL. B22, B40, E60
Does new public management practices lead to effective public welfare responses in Pakistan
Get PDFAbstract. New Public Management is used to regulate government policies meant to enhance performance of public sector that ultimately facilitates general public interest and improve their living standards. New Public Management is inevitable as under this approach modern governments are inclined to bring reforms in an effort to improve efficiency and effectiveness of public sector by adopting private sector practices. Pakistan is also influenced by NPM as reforms in public sector have been developed and implemented to some extent with weak claims of improved performance. The lack of actual improvement in performance raises many questions on the effectiveness of NPM implementation in Pakistan. This study aims to explore these questions by measuring factors influencing performance of public sector organizations in Pakistan. This study adopted quantitative approach to conduct an empirical investigation. Research framework includes major factors of NPM based on literature. Data was collected using adopted questionnaires for each variable. Survey was done from a sample taken from public sectors enterprises in Punjab province under random sampling technique. Data was analyzed using various statistical techniques. Demographics were analyzed in the form of descriptive statistics. Research variables were analyzed using Multiple Regression analysis and Pearson Correlation analysis. Regression assumptions were tested which were fulfilled. Reliability and validity were also tested. Findings show that both “Democratization and Participation (Involvement in Decision Making)”; and “Customer Concept (Customer Orientation)” have positive influence on performance under NPM. Whereas interestingly “Decentralization (Delegation)” has negative influence on performance under NPM as a result of resistance of employees towards recent attempts of Devolution of power or authority. But surprisingly “Management Style (HR Practices)” show no influence on performance under NPM as a result of unresponsiveness of employees towards modern management related practices. Recommendations have been provided as general and specific strategies for effective implementation of NPM in order to enhance organizational performance under NPM.Keywords. Public management, Public welfare.JEL. D73, E60, H10
Rewards in public administration: A proposed classification
Get PDFAbstract. Social and administrative sciences categorize rewards with some dimensions. However, these interpretative models seem to be elusive because they do not consider all the elements of rewards system within public administration. The goal of this paper is to suggest a new classification considering formality, tangibility and also legality in order to create a comprehensive interpretative model in public sector. This theoretical framework begins the process of clarifying and generalizing, as far as possible, the manifold elements of rewards system in public administration to lay a foundation for the development of more sophisticated taxonomies and theories directed to fruitful management implications.Keywords. Monetary rewards, Compensation, Salary, Seat of power, Pay, Bribe, Reputation, Abuse of power.JEL. B29, L29, L30, L32, M12, M19, M50
Training and development: Its effects on job performance in the selected companies of UAE
Get PDFAbstract. One can think that businesses were running without any training in ancient times. Technically, this is not the case. Whether formal or informal, training has always been there in business to carry on its processes. Gradually, it has acquired the shape that can be said a formal one. Firms have started realizing that training and development is a major source of gaining competitive advantage. Most human resource management researchers are of the view that Training and development has got that important role through which organizations can maximize their performances by maximizing performances of their employees. Training and development programs are always there in some way or shape. It may be general or specific. It may be formal or informal and it may be provided by some neutral source or by employers. There is a list of training methods which are in practice in corporate world. For the sake of simplicity, some of them were taken in this study –namely- on-the-job training; mentorship and coaching; vestibule training; instructor-led classroom training; case studies and systematic job rotations and transfers. Another aspect of this study is employee performance. Firm’s performance depends on its employees’ performance. Employee performance has many facets. It may be financial and non financial. It may be quantifiable and qualitative. Furthermore, employee performance contains a number of components in it. In this study, three qualitative components are considered -employee job commitment; employee work knowledge and employee job satisfaction- thinking that these are the main sources of employee performance enhancement.Keywords. Training and development, On-the-job training, Mentorship, Simulator training, Instructor-led classroom training, Case studies, Systematic job rotations and transfers, Employee performance, Job commitment, Job satisfaction, Work knowledge, UAE.JEL. M53, J28
Differences in wealth, evidence from structural regression decomposition, 1850-1870
Get PDFAbstract. Recent studies have used regression decomposition to analyze recent data and found that over seventy percent of the black-white wealth differences remained unexplained (See, e.g., Gittleman & Wolff 2000; Altonji, Doraszelski & Segal 2000; and Blau & Graham 1990). Their results are limited to the variation in modern data. This study contributes improved methodology and historical empirical results to the literature on economic discrimination. In this paper, (i) presents structural regression decompositions, which are modifications to methods developed by Becker (1957) and Oaxaca (1973); (ii) presents a basic empirical test when analyzing structural regression decompositions; (iii) reports the estimated sources of black-white differences in wealth directly before and after emancipation; (iv) links these findings to recent studies. Empirical estimates confirm that the size and persistence of modern black-white wealth differences have historical roots. (v) presents decision-making considerations of “individuals” in an economy with grouped individuals, owners of firms, and social planner(s), conditional on wealth constraints with applied social economic considerations.Keywords. Theory of economic discrimination, Structural regression decomposition, Wealth inequality.JEL. J70, D90, E20, C20, H50, N30
Impact of governing modeson agrarian sustainability in Bulgaria
Get PDFAbstract. Specific system of governance in different countries, regions, subsectors, etc., eventually determines the speed and type of socio-economic development. Despite its big academic and practical importance, in Bulgaria and other countries in East Europe, there are very few empirical studies on dominating governing structures in agriculture, and their impact(s) on agrarian sustainability. In this paper the interdisciplinary New Institutional Economics framework is incorporated, and the impact of diverse market, private, collective, public and hybrid modes of governance on agrarian sustainability at the current stage of development in Bulgaria assessed. First, the methodological framework of the study is outlined. After that dominating governing modes in Bulgarian farms of different juridical type, size, specialization, ecological and geographical location are identified, and their impacts on agrarian sustainability and its economic, social, and environmental pillars evaluated. In conclusion implications for further research, public policy improvement, and private managerial strategy formation are presented. Agricultural producers of different use quite unlike mixture of effective market, private, collective and hybrid modes for governance of their activities and relations. Individual factors and modes most contributing to improvement of agrarian sustainability at the current stage of development are: manager’s personal convictions and initiatives, farms resources and innovation potential, near future profit and benefits strategies, market prices levels and dynamics, area-based EU subsidies, and informal agreements. Research on relations between the governing structure and agrarian sustainability is to continue though increasing representation, and the spectrum of specific governing modes used by farms of different type as well as assessments of the impact of institutions on agrarian sustainability and the impact of the governance at different hierarchical levels. The latter however, requires a new kind of micro and macro data, and a close cooperation between all interested parties. Keywords. Agrarian Governance, Sustainability, Market, Private, Collective, Hybrid modes.JEL. Q13, Q12, Q18, D23, E61, H23, L14, L22, L33, L51
Managed the economy: Now time to manage the peace in Middle East
Get PDFAbstract. The paper utilizes religious philosophy to explain motivations for peace in Middle East where it is suggested in the paper that Kingdom of Saud-i-Arab has the potential to realize this goal.Keywords. Middle East, Business economics, Conflict resolution.JEL. E30, F20, F44
Analysis of the “Dutch Disease” effect and public financial management in Mongolian economy
Get PDFAbstract. This paper aims to diagnose Mongolian economy on whether the economy has suffered from the Dutch Disease by applying a vector auto-regression model for the period from 1993 to 2016 under the current market-based regime including resource-booming times. From the outcomes of a VAR model estimation, it was found that there is a great possibility that Mongolian economy has been suffering from the Dutch Disease through the resource movement effect and the spending effect such that the boom in the mining sector has crowded out manufacturing activities; and that the boom in the mining sector has not contributed to, or even deteriorated the capital accumulation effect that alleviates the Dutch Disease. The strategic policy implications for the current Mongolian public financial management are that the part of the existing resource fund should be used for public investment to facilitate capital accumulation, specifically, for the projects on education, health and economic infrastructure to promote industrial diversification.Keywords. Dutch Disease, Public financial management, Mongolian economy; Vector auto-regression, Public investment.JEL. F43, L60, O53
Economic globalization and poverty reduction: A Nigerian perspective
Get PDFAbstract. This study aimed to look at the impact of economic globalization on African countries with special attention to Nigeria. It tried to answer the fundamental question underpinning globalization: Has globalization really increased poverty as against poverty reduction in Africa? The philosophy behind globalization envisages the growing interconnection of human activities, the imperatives of local, national and regional economic integration and interdependence as well as responding together to global problems. Dependency theory gave basis to the work in order to ventilate the subject of the study. Data for the study was collected from a secondary source. Descriptive statistics was used in analyzing the data. The Chi-square and the F-distribution done with the help of E-views showed that economic globalization has increased poverty as against poverty reduction in Nigeria. Consequently, the study recommended a way out: globalization properly understood, translates into human, economic and ecological solidarity.Keywords. Economic Globalization, Poverty, Reduction, Africa, Nigeria.JEL. F60, I30