Organizations and Markets in Emerging Economies
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Factors That Determine the Closure or Jeopardize the Continuity of a Micro and Small Enterprise
Get PDFThis paper explores the factors that determine the closure or jeopardize the continuity of micro and small enterprises (MSEs). We investigated the determinants of failure from the entrepreneur’s perspective using a qualitative approach, and five variables emerged. We discovered that there are internal and external variables that impact on an enterprise’s continuity, which are themselves correlated. We applied a formula to determine which variable had a higher weight, considering values ranging from 0 to 1, and the asymmetry is to the right. The instrument was applied to 35,571 MSEs, 26,720 of which were open and 8,851 were closed. 33,576 are Mexican and 1,995 Colombian enterprises
Formulation of a Dynamic Portfolio With Stocks and Fixed-income Instruments in the Indonesian Capital Market
Get PDFThis research creates a crossed asset portfolio formulation dynamically with stocks and fixed-income instruments. This dynamic portfolio formulation did not require normally distributed data and accommodated the correlation among class assets which kept changing across time. This was based on the existing assumptions in the modern portfolio theory which were rarely found in the real world, for example, when stock return was normally distributed, the correlation among securities would be constant at all times. The data used in this research were LQ45 Index as a stock market proxy, S&P Indonesia Corporate Bond Index (representing the corporate bond market) and S&P Indonesia Government Bond Index data (representing the government bond market) during the period of June 4th, 2007 to April 11th, 2016. This research found that the dynamic portfolio of stock with either government or corporate bonds was able to reduce the level of risk significantly despite producing a lower rate of return, compared to the ones specifically invested in the stock market. Investors who believe in the principles of prudent investment may use this dynamic approach in shaping the portfolio with stocks and fixed-income instruments
Economic Freedom, Globalization, and the Shadow Economy in the European Union Transition Economies: a Panel Cointegration Analysis
Get PDFThe presence of the shadow economy differs considerably among the countries. Therefore, determination of factors behind the differences in the size of cross-country shadow economy becomes more of an issue for designing and implementing the right policies to combat the shadow economy. This study investigates the influence of economic freedom and globalization on the size of the shadow economy in the European Union transition economies employing panel data analysis for the period of 2000–2015. The empirical analysis indicates that economic freedom reduces the size of the shadow economy in the long term in the overall panel, but globalization also has a relatively smaller detractive effsect on the shadow economy in some countries
Influence of Religiosity on the Behavior of Buying Sports Apparel: A Study of the Muslim Market Segment in India
Get PDFThe paper is aimed to study the influence of religiosity on the behavior of buying sports apparel in the Muslim market segment of India. The data was collected from 1000 Muslim respondents from four states: Uttar Pradesh, Delhi, Uttarakhand, and Jammu & Kashmir. The paper has found that religion plays no role when Muslims buy sports apparel. They shop as any other religious person does. No other factor, even fashion and religious obligation, is influenced by religion, except for shopping enjoyment responsiveness, which is influenced by intrapersonal Islamic religiosity. The paper’s perspective in studying the religious influences will assist sporting apparel manufacturers to design new products that will meet the requirements of the large Muslim segment in India, which is neglected so far. It will help marketers to save their effort and energy which would be utilized for Muslim Population
The Influence of Recommendations in Social Media on Purchase Intentions of Generations Y and Z
Get PDFThe aim of this study is to explore how the impact of recommendations in social media on intention to purchase varies between generations Y and Z. The research focuses on two types of online recommendations, namely online reviews and opinion leaders’ recommendations, and e-WOM, which refers to recommendations made by followers. It also aims to examine which of the two types predominates among generations. Based on various studies, a theoretical research model was developed as well as quantitative and qualitative research was employed. The research findings supported the idea that social media recommendations have an influence on purchasing intentions of consumers, however, the main managerial applications of this study are connected with the differences among consumers. Online reviews had been an influential source of information for Generation Y; however, it is losing its influential power towards shaping purchasing intentions. E-WOM is still important, thus brands and retailers are advised to develop and maintain branded communities in social media, encourage their consumers to share feedback not only in social media, but also in rating websites, apps and services. Retailers are advised to segment their target audience very carefully, as differences in generations’ social media habits and information adoption exist
Understanding Social Entrepreneurial Intention Through Social Cognitive Career Theory: a Partial Least Squares Structural Equation Modelling Approach
Get PDFThis research attempted to find empirical evidence that examines the drivers of social entrepreneurial intentions (SEI) through the lens of social cognitive career theory (SCCT). Since the SCCT model of SEI is still in the early stages and needs to be further developed, experts recommend the use of partial least squares structural equation modelling (PLS-SEM) to analyze data collected from 294 business students from a Philippine university. To account for observed heterogeneity, differences among senior high school and college business students were explored via multigroup analysis (PLS-MGA). Across all respondents, perceived support and internal outcome expectations have the strongest total effects on SEI, while self-efficacy and agreeableness have marginally significant direct effects and significant indirect effects on SEI. This study contributed to the field of social entrepreneurship by looking at alternate and developing explanations to the formation of SEI apart from conceptual models based on the theory of planned behavior
Sms Advertising in India: is Tam a Robust Model for Explaining Intention?
Get PDFThis study examined mobile users’ intentions to receive SMS advertising in India using Technology Acceptance Model (TAM) as a research framework. 242 respondents completed a structured questionnaire, measuring their responses to the TAM’s five constructs. Using Structural Equation Modeling (SEM) both measurement model and structural model testing was done to analyze the data. The findings suggested that specified TAM model contributed to 81.8% of variance in the intention to receive SMS advertising and was a valid model in explaining the intention to receive SMS advertising. The study indicated that perceived utility was a much better predictor of attitude towards SMS advertising than perceived ease of use and perceived trust. The study suggested that in order to increase acceptance of SMS advertising marketers should focus more on increasing utility of SMS ads, so that users would develop positive attitudes towards SMS advertising
The Role of Trust in Mexican Companies in Relation to the Human Factor
Get PDFThe purpose of this study is to analyze the role of trust in Mexican companies in relation to organizational factors, the leadership and career satisfaction of employees. To achieve this objective, a quantitative method of structural model equations was used. The sample consisted of 181 individuals working in service businesses, manufacturing and public service mainly. The study was done in the central part of Mexico. The study results show a positive correlation of trust of employees towards their managers related with benevolence and integrity. With regard to the relation with organizational factors, a strong relationship was found between trust and leadership but not with the policies related to management of employees. Finally, a weak relationship between leadership and career satisfaction of employees was confirmed. Through the model analyzed, it can be stated that the culture plays an important role for the development of trust in organizations. Also, recommendations for policy makers, such as ways of increasing feedback through employees, are presented
Impact of Agency Costs on Firm Performance: Evidence from Vietnam
Get PDFAn assumption in agency costs theory is that agency costs can exert a negative impact on firm performance. In this study, we examine the impact of agency costs on firm performance of Vietnamese listed companies. Our sample includes 736 companies in Vietnam during the period om 2010 to 2015. We find that agency costs exert a negative impact on firm performance. Our results are robust to alternative econometric models, including an instrumental variables technique and a system generalized method of moment model. In addition, we show that a debt instrument can be a useful tool to reduce the negative impact of agency costs on firm performance
Entry Modes and Liability of Foreignness Effects: Evidence From Russian Firms on the German Market
Get PDFForeign subsidiaries are at a disadvantage as compared to domestic enterprises, which is especially the case for emerging market firms in more developed economies. In this paper we apply liability of foreignness (LOF) concept to address the issue of these disadvantages. We consider LOF effects associated with equity vs. non-equity entry modes for Russian firms when penetrating the German market. The paper presents the results of a pilot study of 41 subsidiaries of Russian firms operating in different regions of Germany. Our results show that investors are more concerned about information, customers and partnerships, which can be explained by preeminent reliance on their own resources, while exporters appeared to be driven mostly by image considerations indicating minor interest in other characteristics of the host market. Although both exporters and investors experience significant negative effects from the lack of proper institutional and business knowledge on the host market, these effects vary for equity and non-equity entry modes. We suggest instruments to mitigate these effects, including cooperation with institutional agents, which is especially important for FDI strategy