Current Issue : October - December Volume : 2015 Issue Number : 4 Articles : 5 Articles
General economic thinking considerably influences Market Based Management (MBM). Opportunity-cost, marginal analysis,\ncreative-destruction and more, are rooted in economic thought. However, what about central planning? In the\nââ?¬Å?Use of Knowledge in Societyââ?¬Â Hayek was careful to distinguish between ââ?¬Å?central planningââ?¬Â by the government, which\nhe thought was damaging and decentralized planning by individuals and organizations, which led to advantageous\ncompetition. The Market Based Management method tries to find ways to adapt the principles of a free society and\nmarket economy to advance management practice in organizations. Hayek argues that given the heavy oratorical\nemphasis on markets, it should come as no wonder that Market Based Management ideas have attracted attention from\nindividuals in the varied field of organizational economics. Contrariwise, some academics in management and other\nsocial sciences express doubts, precisely because they perceive all the market based talk to be a form of monetary imperialism\nthat seeks to reduce all human behavior to hyper-rational self-interested enhancing....
Purpose ââ?¬â?? This study explores the nature of the relationships between ownership concentration, ownership identity, and financial performance in publicly listed companies in New Zealand. This study also investigates whether the ownership-performance nexus changes during the financial crisis period.\n\nDesign/method/approach ââ?¬â??panel data for the publicly listed companies for the period 2003 to 2009 obtained from NZX Deep Archive and the dynamic panel generalized method of moments (GMM)regression analysis was used to test the influence of ownership concentration, ownership identity on financial performance measured by Tobinââ?¬â?¢s Qandreturn on assets (ROA).\n\nFindings ââ?¬â??Our findings support the view that ownership concentration affects financial performance. Results show that a higher ownership concentration leads to a lower market-based performance (measured by Tobinââ?¬â?¢s Q) and higher accounting-based performance (measured by ROA). We also foundevidence of owner identity having an impact on financial performance of the publicly listed companies in New Zealand. More ââ?¬Å?detachedââ?¬Â level owners (institutional investors) have positive effect on market-based performance but negative effect on accounting-based performance. Whereas, more ââ?¬Å?involvedââ?¬Â level owners (corporate investors) have negative effect on market-based performance. Our evidence shows that the effectownership identity have had on the financial performance declined during thefinancial crisis period due to the fact that different types of owners reduced their ownership concentration levels, thus resulting in a reduction in their social influence and expertise powers.\n\nOriginality/value ââ?¬â??Our findings contribute to our understanding regarding the nature of the relationships between ownership concentration, ownershipidentity,andfinancial performance. Our findings support the view that the identity of the shareholder(s) do matter in terms of company financial performance. We also report that corporate holdings are the most common type of investor holding in the New Zealand context....
In 2014, the Indonesian textile industry exports 36% of their woven fabric's amount USD 4.1\nto the United States, 16% to the European Union and Japan, and 5% to the Association of\nSoutheast Asian Nations (ASEAN). This research was conducted from August 2014 to April\n2015 in Indonesia. The questionnaires were distributed to 350 respondents, by using a\nstratified sampling, purposively, and triangulation techniques. The questionnaires were\ndistributed to an international and national distributors, textile company staffs, textile agency,\ntextile shopkeepers, tailor, staff of the garment, and the staffs of the Trade Minister of\nIndonesian. The image analysis shows that the woven fabrics of Indonesia are competitive. In\nterms of an image analysis, this study found three gaps of the image�s expectation and\nperformance. It is indicated that the plan of the Trade Minister of Indonesia would be done, as\nlong as the plan is followed by increasing the production and finishing capacity of the textile\nindustry, which were imported from several countries, such as Germany, Italy, and ASEAN\ncountry. They need the new technology of textile machine on getting a better quality and\nincreasing the production capacity of the woven fabrics....
Corporate Social Responsibility (CSR) is a subject that divides academic opinion. The current literature on the\nsubject provides a dichotomy of views from the perspective of supporters who argue that businesses do well by doing\ngood. Critics, from mainly the free enterprise movement, argue that CSR is ââ?¬Ë?just a fadââ?¬â?¢ and that by diverting valuable\nresources into activities that have no direct bearing on a companyââ?¬â?¢s bottom-line is unscrupulous and unprincipled.\nThere is also the argument that CSR engagement place undue burden on SMEs in Africa that can ill afford them while\nprotecting foreign companies.\nThe cost associated with the phenomenon is one of the key reasons for the current position which is also not helped\nby the lack of scientific measurement of the impact of CSR engagement on a companyââ?¬â?¢s performance. However, there\nis evidence from CSR literature which supports the view that there are long-run benefits for companies adopting CSR\nstrategies including enhanced reputation, enhanced staff loyalty and cost savings.\nThis paper argues that there is a strong business case for CSR engagement by SMEs in developing countries in\nspite of the associated costs and concludes that CSR engagement enhances SMEs in developing countriesââ?¬â?¢ social,\nenvironmental and financial performance....
The International Coffee Agreement (ICA) aimed at strengthening the global coffee sector\nthrough the promotion of its sustainable expansion in a market-based environment for the\nbetterment of all participants in the sector. This goal was meant to be achieved through five\nstrategies, namely, (1) promoting international cooperation on coffee matters, (2)\nencouraging consumption that balances demand and supply, (3) providing market\ndevelopment, (4) facilitating fair-trade and (5) enhancing coffee financing for small\nscale farmers in developing countries. An exploratory study aiming at assessing to what\nextent the ICA has contributed to the development of export markets for small scale\ncoffee growers in Manicaland, Zimbabwe showed that the ICA is failing to promote\ninternational market development. 99% of the respondents agree that it is doing it to a lower\nextent. This study recommends that the ICA should put in place a platform to incorporate\nthe small scale farmers so that they increase their market spectrum in order to increase its\nexport volumes and sustain the sector....
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