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Mediation effect of psychological contract between personality dimensions and turnover intention
Get PDFPurpose: This study aims to test the mediating role of psychological contract (PC) in a relationship between personality dimensions and turnover intention.
Design/methodology/approach: The current study is analytical in nature. The data for the purpose of the analysis is collected from 300 software engineers working in Lahore, Punjab. Purposive sampling technique is used for the collection of this data. The response rate was 87.33 per cent. Different data analysis techniques such as correlation, regression analysis, are used to test the 10 hypotheses of the study. Moreover, the study adopted a cross-sectional survey design.
Findings: According to regression analysis, extroversion, conscientiousness and agreeableness personality dimensions brought positive but insignificant increments in turnover intention. However, emotionally stable personality dimensions brought positive and significant increments in turnover intention. Open to experience personality dimension brought negative but insignificant decrement in turnover intention. Results showed extroversion personality dimension brought a very less but insignificant increment in variations of PC, which have higher contributions in variations of turnover intention. Emotional stable, conscientiousness and agreeableness personality dimensions brought also very less but a significant increment in PC. Open to experience personality dimension have negative but insignificant decrement in PC. Results showed the mediation impact of PC among emotional stability, conscientiousness and agreeableness personality dimensions and turnover intention. However, PC does not mediate among extroversion, open to experience personality dimensions and turnover intention. The paper concludes with recommendations for further research.
Originality/value: This study will help the organization in reducing the turnover rate and can enhance the motivation level of their employees
DOI: https://doi.org/10.1108/JEFAS-06-2019-0101
Model for assessing the quality of marketing-management education
Get PDFPurpose: This study aims to propose and test a model of educational quality in marketing-management by incorporating resource-capability variables that are linked to learning outcomes for students and the competitive positioning of universities.
Design/methodology/approach: Drawing on the resource-dependence theory, this study develops a comprehensive model for measuring educational quality. A sample comprising Spanish university teachers has been used to test the hypothesised relationships by using a two-stage least squares regression analysis while controlling for the possible effect of the public/private nature of the university.
Findings: The results validate the model and show that educational capabilities are reliable variables for predicting the educational quality of marketing-management programmes at Spanish universities.
Research limitations/implications: Similar to all educational research studies, certain problems have been acknowledged with respect to the data and the theoretical constructs that are used in the study. Future studies can replicate this study’s model by using more direct objective measures of the theoretical constructs and extend the study to other countries with different educational contexts.
Practical implications: The results provide guidance to marketing teachers at a university in designing high-quality marketing-management educational programmes and in developing self-diagnostic tools that can determine a university’s likelihood of competitive success.
Originality/value: This study is one of the few studies to apply the resource-dependence theory to the analysis of the variables associated with the quality of marketing-management education. In doing so, the study presents original multiitem scales to improve the measurement of model constructs.
Doi: https://doi.org/10.1108/JEFAS-09-2017-009
The associations between stock prices, inflation rates, interest rates are still persistent Empirical evidence from stock duration model
Get PDFPurpose: This paper aims to examine the effect of both inflation rate and interest rate on stock prices using quarterly data on non-financial firms listed in DJIA30 and NASDAQ100 for the period 1999-2016. The stock duration model is used to measure the sensitivity in variations in inflation rates and interest rates on stock prices.
Design/methodology/approach: The authors use standard statistical tools that include Johansen cointegration test, linearity, normality tests, cointegration regression, Granger causality and vector error correction model.
Findings: The results of panel Johansen cointegration analysis show that cointegration exists between the stock prices, the changes in stock prices due to inflation rates and the changes in stock prices due to real interest rates. The results of cointegration regression show that inflation rates are negatively associated with stock prices, the real interest rates and stock prices are positively associated, changes in real interest rates and inflation rates Granger cause significant changes in stock prices, significant speed of adjustment to long run equilibrium between observed stock prices and real interest rates and significant speed of adjustment to long run equilibrium between changes in stock prices due to real interest rates and changes in inflation rates.
Originality/value: This paper contributes to the empirical literature in three ways. The paper examines the effects of inflation and interest rates on stock prices differently from other related studies by separating inflation from real interest rates. The paper examines the causality between stock prices, interest and inflation rates. This paper offers significant updated validity to extended literature that a negative association exists between stock prices and inflation rates. This validity can be considered as an existence a theory of stock prices, inflation rates and interest rates.
Doi: https://doi.org/10.1108/JEFAS-10-2018-010
Boardroom female participation, intellectual capital efficiency and firm performance in developing countries Evidence from Nigeria
Get PDFPurpose: This paper aims to focus on the implications of female participation in the board on the management of intellectual capital for improved firm performance, particularly in the Nigerian-banking sector. It uses the resource dependency theory to ascertain the link between female board participation, intellectual capital and performances.
Design/methodology/approach: The paper adopted longitudinal panel analysis to analyze data obtained from the annual reports of selected listed commercial banks in Nigeria. The random effect regression was adopted as the method of analysis. The decision was informed by conducting the Hausman test.
Findings: The results revealed that female board participation has insignificant influence on bank performances, whereas intellectual capital efficiencies positively contribute to bank performances. However, significant influences were exhibited upon the interactions of female board participation and components of intellectual capital efficiency on bank performances.
Research limitations/implications: Because of the focus of the research work, which is centered on the banking sector of the Nigerian economy, the findings of the research may not be sufficiently suitable for other sectors of the country. This, however, leaves the coast for other researchers to extend research on intellectual capital and gender participation to other non-financial sectors and other countries.
Practical implications: The outcome implies that there is a need for increased female participation in the boardroom to harness optimal intellectual capital efficiencies for firm performance. It further confirmed that intellectual capital unlocks the hidden treasure of firms.Originality/value – The paper identifies and fulfills a niche on the need to extend the frontier of knowledge on intellectual capital and gender equity.
Doi: https://doi.org/10.1108/JEFAS-03-2019-003
The dynamics of bond market development, stock market development and economic growth Evidence from the G-20 countries
Get PDFPurpose: The paper investigates whether Granger causal relationships exist between bond market development, stock market development, economic growth and two other macroeconomic variables, namely, inflation rate and real interest rate. The study aims to expand the domain of economic growth by including a more in-depth analysis of the possible impact that bond market and stock market development has on economic growth than is normally found in the literature.
Design/methodology/approach: This paper uses a panel data set of the G-20 countries for the period 1991-2016. It uses a panel vector auto-regression model to reveal the nature of any Granger causality among the five variables.
Findings: The paper provides empirical insights that both bond market development and stock market development are cointegrated with economic growth, inflation rate and real interest rate. The most robust result from the panel Granger causality test is that bond market development, stock market development, inflation rate and real interest rate are demonstrable drivers of economic growth in the long run.
Research limitations/implications: Because of the chosen research approach, the research results may lack theoretical foundations. Therefore, perhaps the more fully grounded interactive findings of this study can inspire theorists to fill the missing gap. Practical implications – This paper includes lessons for policymakers in the G-20 countries seeking to stimulate economic growth in the long run and how they need to ensure greater stability of the interest rate and inflation rate as well as fully developing their financial markets, as both bond markets and stock markets are obvious drivers of economic growth.
Originality/value: This paper fulfills an identified need to study causal relationships between bond market development, stock market development, economic growth and two other macroeconomic variables, i.e. inflation rate and real interest rate.
Doi: https://doi.org/10.1108/JEFAS-09-2018-008
Sierralta Ríos, Aníbal. El comercio internacional y su impacto en la cultura y el derecho
Get PDFCurrently, international trade is one of the economic activities more outstanding. It does not imply - as the author states - only transfers of goods or services; It also includes a series of elements, among which culture, technology and legal systems are included. For this reason, the international trade has direct effects, through cultural penetration or political interference, both in transnational corporations and in Recipient states and their populations. Sierralta, taking into account these new elements that are affected by economic activity, proposes a new theory: the evolutionary theory of international trade. This is raised not only as a theoretical approach, but also as the development of interdependence between the actors and the time factor in trade.Actualmente, el comercio internacional es una de las actividades económicas más descollantes. No implica —como expone el autor— solo transferencias de bienes o servicios; comprende, además, una serie de elementos, entre los que se incluyen la cultura, la tecnología y los sistemas jurídicos. Por esta razón, el comercio internacional tiene efectos directos, mediante la penetración cultural o la interferencia política, tanto en las empresas transnacionales como en los Estados receptores y su población. Sierralta, teniendo en cuenta estos nuevos elementos que se ven afectados por la actividad económica, propone una nueva teoría: la teoría evolutiva del comercio internacional. Esta se plantea no solo como un enfoque teórico, sino también como el desarrollo de la interdependencia entre los actores y el factor tiempo en el comercio
González Palacios, Carlos (comp.). Reflexiones sobre la democracia y el Estado de derecho en el mundo contemporáneo. Lima: ESAN, 2020
Get PDFThis work is an important compilation effort - and in most cases, translation work - made up of eleven research papers by legal experts German, French, and Peruvian on legal issues related to the notions of democracy and the rule of law. Each contribution, which takes the form of an academic reflection of approximately ten pages, yields account of a reality from the specialty of each author in matters as different, but complementary, as the fight against corruption, the public administration in its relationship with the citizen or, more The contributions of the Lüth jurisprudence of the Peruvian Constitutional Court, which expresses that the Constitution of values acquires its legitimacy not because it is based exclusively on the will of the people, but on the universal of human dignity. All this makes this publication, probably, one of the most recent theoretical values for the theory of law public, so its reading is recommended to researchers and students.Esta obra es un importante esfuerzo de recopilación —y en la mayoría de casos, de traducción— conformada por once trabajos de investigación de juristas alemanes, franceses y peruanos acerca de temáticas jurídicas ligadas a las nociones de democracia y de Estado de derecho. Cada contribución, que toma la forma de una reflexión académica de aproximadamente diez páginas, rinde cuenta de una realidad a partir de la especialidad de cada autor en materias tan distintas, pero complementarias, como la lucha contra la corrupción, la administración pública en su relación con el ciudadano o, de manera más puntual, los aportes de la jurisprudencia Lüth del Tribunal Constitucional peruano, la cual expresa que la Constitución de valores adquiere su legitimidad no por estar basada exclusivamente en la voluntad del pueblo, sino en el valor universal de la dignidad humana. Todo ello hace de esta publicación, probablemente, una de las de mayor valor teórico reciente para la teoría del derecho público, por lo que se recomienda su lectura a investigadores y estudiantes
Sustitución de empleador
Get PDFThe purchase of companies, mergers, spin-offs, reorganizations in general, constitute extremely complex operations that impact, of course, the underlying corporate relationships to the companies that are subject to them. There is also a natural effect on the taxation of corporations and people involved. However, a fundamental edge is the effect of said operations on the working relationships of personnel employed by the participating companies. In this article we analyze the aforementioned effect and the existence of responses by our legal system.La compra y venta de empresas, fusiones, escisiones, reorganizaciones en general constituyen operaciones sumamente complejas y que impactan, como es natural, en las relaciones societarias subyacentes a las compañías que son objeto de ellas. También se produce un efecto natural en la tributación de las corporaciones y las personas involucradas. Sin embargo, una arista fundamental es el efecto que dichas operaciones causan en las relaciones de trabajo del personal de las empresas participantes. En el presente artículo se analizan el mencionado efecto y las respuestas dadas por el ordenamiento jurídico peruano
Good governance and transparency
Get PDFThe notion of “good governance” implies the special place given to the State. Such a model is defined by the effectiveness of certain guarantees such as the independence of the judiciary, the correct and fair management of expenditure but also administrative transparency. Indeed, the latter depends on the sincerity of those involved in public action, on the one hand, and the constant dialogue between the public authorities and the public, on the other hand. The purpose of this intervention is to demonstrate that the realisation of the model of “good governance” is based, above all, on the existence of an administration that fully understands the requirements of administrative transparency. The two pillars of “good governance” would thus be the foundations of the principle of transparency: communication with citizens and their participation in the process of the decision-making process.The notion of “good governance” implies the special place given to the State. Such a model is defined by the effectiveness of certain guarantees such as the independence of the judiciary, the correct and fair management of expenditure but also administrative transparency. Indeed, the latter depends on the sincerity of those involved in public action, on the one hand, and the constant dialogue between the public authorities and the public, on the other hand. The purpose of this intervention is to demonstrate that the realisation of the model of “good governance” is based, above all, on the existence of an administration that fully understands the requirements of administrative transparency. The two pillars of “good governance” would thus be the foundations of the principle of transparency: communication with citizens and their participation in the process of the decision-making process
Impact of gold and oil prices on the stock market in Pakistan
Get PDFPurpose: The purpose of the study is to find out the impact of gold and oil prices on the stock market.
Design/methodology/approach: This study uses the data on gold prices, stock exchange and oil prices for the period 1991–2016. This study applied descriptive statistics, augmented Dickey–Fuller test, correlation and autoregressive distributed lag test.
Findings: The data analysis results showed that gold and oil prices have a significant impact on the stock market.
Research limitations/implications: Following empirical evidence of this study, the authors recommend that investors should invest in gold because the main reason is that hike in inflation reduces the real value of money, and people seek to invest in alternative investment avenues like gold to preserve the value of their assets and earn additional returns. This suggests that investment in gold can be used as a tool to decline inflation pressure to a sustainable level. This study was restricted to use small sample data owing to the availability of data from 1991 to 2017 and could not use structural break unit root tests with two structural break and structural break cointegration approach, as these tests require high-frequency data set.
Originality/value: This study provides information to the investors who want to get the benefit of diversification by investing in gold, oil and stock market. In the current era, gold prices and oil prices are fluctuating day by day, and investors think that stock returns may or may not be affected by these fluctuations. This study is unique because it focusses on current issues and takes the current data in this research to help investment institutions or portfolio managers.
Doi: https://doi.org/10.1108/JEFAS-04-2019-005