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Tuul Purevdorj and Susana Costa e Silva

Abstract

The present study attempts to understand the use of three information processing mechanisms – cognitive, affective, and normative – to assess the quality of cashmere products made in Mongolia. For attaining the above aims, semi-structured interviews were conducted to test a framework that resulted from literature reviewed on country of origin (COO) effect and information processing mechanisms. Results demonstrate that for Business-to-Business (B2B) clients, the COO is an extremely relevant cue to evaluate the quality of cashmere. Conversely, most of the consumers do not seem to include the COO effect on their information processing and base their evaluation on four distinct product-related attributes: quality, brand, social status, and price. Results are relevant for the Mongolian cashmere industry, as well as for marketers interested in understanding what drives consumers of cashmere in their buying decisions. We also understand these findings to assist in improving the image of Mongolia as one of the world’s best manufacturers of cashmere.

Open access

Ebenezer Toyin Megbowon

Abstract

The study profiled and compared household multidimensional poverty status and its determinants among urban and rural households in the Eastern Cape Province of South Africa, using information from a sample population of 3033 households interviewed from the Province during the General Household Survey conducted by the Statistics South Africa in 2014. Analytical techniques utilized include the recent multidimensional poverty index (MPI), descriptive statistics and Tobit regression. Findings reveal that multiple deprivations are found mostly in the rural area of the province; the multidimensional headcount is highest in the rural area, though the intensity of multidimensional poverty is almost similar in both geographical locations. The standard of living dimension is also the largest contribution to MPI in both locations. MPI has significant links with education attainment of household head, access to electricity and asset stock in both geographical locations, but is influenced by the gender of head, agriculture engagement and household monthly income in rural areas only. In order to improve households’ multidimensional poverty status in both urban and rural locations, there is the need to take into account some significant variables such as education of head, increase electricity subsidy coverage during winter period, asset accumulation and increase in households’ participation in agricultural activities, especially those residing in rural areas.

Open access

Anita Todea

Abstract

This paper examines the impact of financial literacy on stock price informativeness in a sample of firms from 20 countries. Using four measures of stock price informativeness, we find a significant relationship between higher financial literacy and higher stock price informativeness. The individual investors’ contribution regarding the incorporation of specific information into stock prices includes private information also and not mere specific information in the general sense. Financial knowledge is the key element that helps individual investors to incorporate specific information into stock prices.

Open access

Odunayo Magret Olarewaju, Stephen Oseko Migiro and Mabutho Sibanda

Abstract

Dividend policy remains one of the top ten unresolved issues in corporate finance including in the banking sector. Hence, this study explores data from 250 commercial banks in 30 Sub-Saharan African countries to establish the causal relationship between the use of two major dividend policies in the sector and financial performance for the period 2006 to 2015. The empirical results of the vector error correction block exogeneity Wald test and Pairwise Granger causality test reveal that only retention policies Granger cause performance (ROA), even though both major policies posit a positive relationship with performance (ROA) in the Vector Error Correction Model estimate. Therefore, commercial banks in Sub Saharan Africa and also in the entire world should use their free cash flows wisely by exploring all available viable investment opportunities. By doing this, not only owners’ profit but wealth is fully maximised such that their survival, value creation, and future growth is fully justified.

Open access

Aleksandar Erceg, Predrag Dotlić and Monika Mikuš

Abstract

Increased organizational efficiency should be one of the main strategic goals of every business. Ways of achieving it differ and one of the many choices is to improve business operations using available tools such as the “20 keys methodology”. This methodology is used to achieve strategic goals through the enhanced speed of learning and innovation. The aim of this paper is to look at the potential of 20 keys methodology for the improvement of company’s organizational efficiency in today’s global market. This integrated set of different tools is intended to increase the company’s efficiency and level of quality with synchronized cost reduction. 20 keys tend to eliminate various “wastes” in production processes to improve buyer’s satisfaction and motivate employees to act towards achieving company’s goals. Eventually, the methodology application should ensure a sustainable development, profitability, and integrated approach to competitiveness and long-term success of the company. The paper examines the implementation of the 20 keys methodology in Croatia and presents one case of a local production company using the methodology aiming to increase the organizational efficiency. Further research proposals are brought to confirm the potential influence of methodology on organizational efficiency.

Open access

Susana Costa e Silva and Ana Isabel Tavares Vieira

Abstract

Over the past few years, a large number of projects related to entrepreneurship ideas have appeared daily in the media, due to the fact that they were sold as new solutions for companies or gave origin to new companies. These projects were mainly created by individuals who were students, unemployed persons or working people and, consequently, did not have a company of their own and, in most of the cases, also did not have the means to finance their idea. In some situations, the creation of a crowdfunding project presents itself as a convenient and riskless option for funding and this is frequently the reason why some project initiators decide to launch a campaign. The assessment of each campaign depends on the expectations of the project creator, who is in the best position to decide whether it was actually successful. Untangling how a project owner can assess the performance of its project is of major importance, namely when projects are launched by individuals who ultimately carry all the tasks involved in the initiative. This is a field of research within crowdfunding that remains, to the best of our knowledge, under researched. We propose a framework for the analysis of the success of these projects and we test it on six crowdfunding projects launched in Portugal. Our goal is to shed light to the factors that can be used by project creators in the assessment of the performance of their initiatives.

Open access

Besnik Fetai, Nora Sadiku-Dushi and Raman Ismaili

Abstract

The extrinsic product cues are becoming a very important aspect in product evaluation by consumers. Because of their importance many authors are exploring which extrinsic cues are considered more significant when evaluating the different kind of products. Therefore, the aim of this research is to investigate the impact of most researched extrinsic cues such as the country of origin (COO), brand, and price on a purchasing decision for food products among consumers in Kosova. To explore the domestic country bias, the impact of the additional cue labeled as “domestic product” is studied. Based on a quantitative survey, the main findings of this study revealed that the brand, the price, the country of origin, and domestic branded products have positive impact on a consumer’s purchasing decision, since consumers rely on those extrinsic cues when making their purchasing decisions. When multiple cues are presented, the country of origin is considered as the most important cue, while the “domestic product” is least important to Kosovar consumers. The findings of this study are useful to food producers and marketers of food products, since it can provide them with useful information on what consumers consider most important when purchasing food products.

Open access

Karl Farmer and Birgit Bednar-Friedl

Abstract

In a renewable resource based overlapping generations (OLG) model without harvest costs, a complex combination of the time discount factor, the resource production share, and the natural regeneration rate ensure the existence of a stationary market equilibrium and its intergenerational efficiency when the own rate of return on natural capital is positive. This paper investigates to what extent previous findings carry over to an OLG economy with two types of unit harvest costs (constant, inverse stock dependent) arising from the competition for labor between resource harvesting and resource processing. In contrast to the model without harvest cost, we show why large unit harvest costs, surprisingly, do not require a complex combination of basic parameters for the existence of a stationary state, and that in the model with stock dependent costs intergenerational efficiency might occur even when the own rate of return on natural capital is negative.

Open access

Bakae Aubrey Mokoena and Manilal Roy Dhurup

Abstract

In the past two decades, several researchers have applied service quality frameworks in sport-related domains in measuring service quality among participants. However, university campus recreation has been scarce as compared to organised sport at local, regional and national levels, which often depends on a limited tenure linked to their membership as a registered student at a university. The purpose of the study is to investigate service quality dimensions as perceived by university leisure and recreation students. A cross-sectional survey was undertaken among 301 university students using a non-probability purposive sampling. Variables that constituted campus recreation service quality were operationalised through a literature review, including sport and recreational scales. Through factor analysis, seven distinct dimensions of campus recreation service quality were established. These factors were labelled: people interaction, facility design, sociability, physical change, equipment, ambience and program range. Item total correlations show satisfactory convergence of the items within their relevant constructs. This study complements the existing recreational sports body of knowledge by exploring campus recreation service quality. These dimensions may assist campus recreation mangers to understand the dimensions that are pertinent among students within a university context better. Recreation managers, in their periodic measurement of service quality, can incorporate these dimensions.

Open access

Simona Nistor

Abstract

This paper investigates the impact of the degree of capital account openness on banks’ exposure to extreme events during the period 2005-2012 using a sample of financial institutions from Central and Eastern Europe. The empirical output highlights a positive and strongly significant impact of a higher degree of financial openness on banks’ systemic vulnerability. Robust findings suggest that this harmful effect is lower for foreign owned banks or for those whose bank holding company signed one or more Vienna Initiative commitment letters. On the other side, tighter capital regulations and private monitoring policies enhance the positive impact of a higher degree of capital accounts openness on banks’ vulnerability to systemic events.