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Chidambaram Vijayabanu and Sivakumar Arunkumar

Abstract

The aim of the current study is to analyze the relationships of Emotional Intelligence (EI) dimension and Personality (P) traits of individual towards Team Performance (TP). The current study analyses the effect of Emotional Intelligence (Goleman, 1995) and personality (Big Five personality; Gosling et al., 2003) traits for Air India employees’ Team Performance. This study has used a simple random sampling method with a sample size of one hundred and twenty five employees from Air India. The Current study uses Smart PLS based Structural Equation Modeling approach and the results shows that Personality and Emotional Intelligence affects the team performance by 72.080% which is a considerable effect and this concludes that EI is a vital factor and it is considered as work place glue of individual personality and team performance of the contemporary organization..

Open access

Mateja Jerman and Sandra Janković

Abstract

Studies show an increasing importance of intangible assets (hereinafter IA) and a positive relationship between IA and company performance. The purpose of this paper is to analyse the importance of IA for Croatian and Slovene hotel companies and to find out whether companies with a higher share of intangibles are also more profitable. The analysis is based on publicly available financial statements for the five-year period, from 2011 to 2015. The results show that the average share of IA presented in the balance sheets of the analysed hotel companies is low in both countries. Moreover, we could not find a statistically significant relationship between the share of IA and the selected financial performance indicators. The results of our study show that despite the emphasised importance of IA in literature, the publicly available financial data of the selected hotel companies provides very limited information on IA for external stakeholders.

Open access

Ekaterina Dubova, Sergey Volodin and Irina Borenko

Abstract

This paper is dedicated to the investigation of the strategies related to the high-dividend portfolio investment. The aim of this research is to increase the high-dividend portfolio efficiency by adding some filters and optimization weights of the assets in the portfolio. In order to achieve this goal, the authors complement the classical version of the «Dogs of the Dow» strategy with financial indicators ROA and P/E with equal and optimized weights of the assets in each portfolio. Two additional parameters are also used in the process of testing: the number of stocks and the month of the annual portfolio rebalancing. Thus, the obtained models have high-quality advantages in comparison with the traditional concept of high-dividend investing, eliminating its inherent disadvantages and providing higher rates of return.

Open access

Sheilla Nyasha and Nicholas M. Odhiambo

Abstract

This paper investigates the dynamic causal relationship between bank-based financial development and economic growth, and between market-based financial development and economic growth in six countries during the period from 1980 to 2012. The causal relationship was found to vary largely across countries and over time. In general, bank-based financial development seems to Granger-cause economic growth in the UK and only in the long run in Australia. However, there is a feedback loop in Brazil and Australia, but only in the short run for the latter. In Kenya, South Africa and USA, the results support the neutrality hypothesis. The study results further indicate short-run unidirectional causality from market-based financial development to economic growth in the USA. Evidence of the feedback loop was found in Kenya, while the demand-following hypothesis found support only in South Africa and Brazil. However, the neutrality view was supported in Australia and the UK.

Open access

Kasım Kiracı and Nurhan Aydin

Abstract

The purpose of this study is to identify the factors that determine the capital structure of low-cost airlines. Accordingly, it is aimed to test the factors that determine the capital structure in low-cost airlines in the context of capital structure theories. In the study, 15 airline companies, which had continuous financial data during the 2004-2015 period, were examined empirically. Panel data analysis was used as a method in the study. Findings of the study show that low-cost airlines generally operate based on the trade-off theory while borrowing in the short-term and based on the pecking order theory while borrowing in the long-term.

Open access

Mihaela Onofrei, Bogdan-Narcis Firtescu and Paula-Andreea Terinte

Abstract

The aim of the paper is to find if the corporative governance characteristics have an impact on bank performance. We conducted an OLS regression on panel data (fixed, random effects and first-difference). We used data from Romanian and Bulgarian commercial banks as reported by Bureau van Dijk database and categorical variables manually collected by analyzing the annual reports of the banks from our sample. These latest dummy variables reflect the corporative governance component for our model. The data used in our paper is from 2003 to 2015 period. Our results showed that there are some statistically significant effects of our categorical variables on bank profitability in both countries, so, the good practice of corporate should be applied for obtaining higher bank’s performance.

Open access

Marina Faďoš and Mária Bohdalová

Abstract

The paper describes a new calculation method of the unemployment gender inequality indicator, that was based on the enhancement of the ratio of the unemployment rate of men and women, and on the restriction with the levels of the average unemployment rates. The proposed method of the calculation of the gender inequality indicator eliminates weak spots of the known two methods. Our proposed method was explained and compared with the known two methods, with practical examples using data of Spain, over the sample period 1972-2016. The result of the proposed method is the indicator of the unemployment gender inequality and severity intervals of gender inequality. With severity intervals of the gender inequality, we determine the importance of the gender inequality issue based on the calculated unemployment gender inequality rate.

Open access

Júlio Lobão

Abstract

It is widely acknowledged that having efficient financial markets is paramount in the allocation of social resources to their most productive uses. This paper explores the informational efficiency of six of the most important African stock markets for indication of seasonal predictability in stock returns. The results reveal that all markets exhibited some kind of seasonal patterns. The prevalence of the phenomenon was higher in the Egyptian and Tunisian markets, suggesting the presence of inefficient prices. Surprisingly, the only advanced emerging market of the sample (South Africa) showed a relatively large number of anomalies. This paper also reports the existence of strong pre-holiday effects and turn-of-the-month effects in most of the markets under scrutiny. Moreover, this study is the first to document the presence of quarterly effects in African markets. Collectively, the evidence obtained highlights the opportunity for arbitrageurs to reap profits as well as the need of decision-makers to implement legal and regulatory reforms in the markets of the continent.

Open access

David Umoru, Sylvester Ohiomu and Richard Akpeke

Abstract

The paper analyses the influence of oil price volatility on Exchange Rate Variability, External Reserves, Government Expenditure and real Gross Domestic Product using the methodology of Vector Auto-Regressive (VAR) to carry out regression analysis, impulse response function and factor error variance decomposition for robust policy recommendations. The results of the research show that unstable oil price exerts varying degrees of deleterious effect on exchange rate variability, external reserves, Government expenditure and real gross domestic product (GDP). Based on the findings of the study, we recommend the need for the country to branch out its revenue sources. This will further shield the dangle effect of the fluctuation in prices of oil. Serious policy attention should be attached to agricultural reformation, industrial policy drives, mines and mineral development to diversify Nigeria’s economy following the downward slide in the oscillations in oil prices to address the problem of excessive dependence on crude oil exportation. This will help to achieve sustainable growth and development in Nigeria.