A Study on the Application of Factor Analysis and the Distributional Properties of Financial Ratios of Malaysian Companies
Authors :- K-Rine Chong, Ben Chin-Fook Yap and Zulkifflee Mohamad
Keywords :- Financial ratios, Factor analysis, Distributional properties, Normality.
Published Online :- 24 November 2013
View Full AbstractThis paper investigates the use of factor analysis on financial ratios as well as examines their distributional properties. With an initial set of 28 financial ratios, seven ratios with the highest factor loadings were selected, and subsequently were assessed for normality. All seven ratios were found to be positively skewed. After removal of outliers and transformation of values, only one ratio achieves normality, while another ratio approaches normality. This study shows that it is not necessary to use many ratios for assessing financial performances. It also shows that financial ratios generally do not display a normal distributional pattern and normality can be improved for certain ratios only after remedial actions are taken.
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An Evaluation of the Perceptions and Experiences of Quality of Work Life in Nigeria
Authors :- Fapohunda, Tinuke. M.
Keywords :- Evaluation, Perceptions, Experiences, Quality, Work – Life.
Published Online :- 24 November 2013
View Full AbstractThe factors affecting quality of work life have substantial roles to play in satiating the needs of the employees. It is about how people can do their work better and also how the work can motivate them to do better. This study evaluates the perceptions and experiences of quality of work life in Nigeria using fifteen indicators of quality of work life and 300 employees in four establishments in Lagos Nigeria. The survey instrument was a questionnaire administered in a field survey spanning two months between July and August 2013. The response rate was 280 (93.3%) of which 152 (54%) were men and 128 (46%) were women.
The results indicate that most of the workers do not give highly positive ratings though some of the indicators had more positive assessments. For some indicators, there were significant gender gaps while others had similar levels of agreement or satisfaction. Organizations must maintain and improve the quality of work life in their establishments. There must be more commitment to investing in human resources who contribute significantly to sustained organization performance. To gain competitive advantage in organizations must be concerned about their human resources who are their most important assets and take consistent and steadfast measures to improve them and employ high-quality work-life experiences.
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Does Cooperative Financing Method Influence Micro-credit delivery An Empirical Investigation of South Western States of Nigeria
Authors :- Oladejo Moruf
Keywords :- Cooperative Financing Method, Micro Credit Delivery, Nigeria, Microfinance Policy.
Published Online :- 24 November 2013
View Full AbstractThis paper appraises the influence of Cooperative Societies as microcredit delivery channel in selected western states of Nigeria with a view to identify the role of Cooperatives in the revised Microfinance policy of the Nigerian government. Studies over the years have shown the positive impact of cooperative societies as micro credit delivery channel and vehicle for poverty alleviation. The revised microfinance policy framework (2011) recognized the existing informal financial institutions like credit Unions and financial Cooperatives but placed more emphasis on MFBs because they are under the regulatory and supervisory purview of the Central Bank of Nigeria (CBN). Appraising the influence of Cooperative Societies on credit delivery at a time when the government seems hesitant of channeling fund for cooperative development and the resultant failure of the microfinance schemes in Nigeria becomes imperative. The data collected through the questionnaires were sorted edited and coded in a table. Both descriptive and inferential statistics were used to present and analyse the data. Purposive sampling technique was adopted to select the sample size. The selection of the 300 Cooperative Societies was done in a simple manner as such that all geo-political zones in each state were adequately represented while the 600 members selected on the basis of two members per one Cooperative Society. Analyses of Variance (ANOVA) as well as t-test were used to test the hypothesis on the cross sectional perception of SMEs members and leaders of cooperative societies on its impact as a micro credit delivery channel in the six selected states of the south west Nigeria. The mean differences were significant at 5%. Also the t-calculated value of 3.93 which is greater than that of tabulated value of 2.25 shows statistically that the mean perception of leaders is significantly different from that of the members.
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Conflict Management and Employees Performance in Julius Berger Nigeria PLC. Bonny Island
Authors :- Mba Okechukwu Agwu
Keywords :- Conflict, Conflict management strategies, Employees’ performance, Industrial democracy, Julius Berger.
Published Online :- 24 November 2013
View Full AbstractThe paper discussed conflict management and employees performance in Julius Berger Nigeria Plc. Bonny Island. It views organizational conflict as a dispute that occurs when interests, goals or values of different individuals or groups are incompatible with each other. It assumes that integration of all stakeholders’ interests will go a long way in reducing conflicts in organizations and enhancing employees’ performance. It is based on the democratic conflict management strategy. The research question addressed the extent of the relationship between conflict management strategies and employees’ performance and employees/management perception of the effectiveness of conflict management strategies in Julius Berger Nigeria Plc. Bonny Island. The place of study is Julius Berger Nigeria Plc. Bonny Island while the duration of study is between August, 2012 and September, 2013. A descriptive research design was used in executing the study using 50 purposively selected sample respondents consisting of 25 managerial employees and 25 non-managerial employees of Julius Berger Nigeria Plc. Bonny Island. The core aspect of the study is the use of cross sectional survey research design in generating the required primary data. Data collected were analyzed using descriptive and inferential statistics. Results from the data analysis indicated that significant relationship exists between conflict management strategies and employees’ performance and no differences exist between managerial and non-managerial employees’ perception of the effectiveness of conflict management strategies. The research therefore recommends among others: promotion of industrial democracy, regular management/employees meetings, and strict implementation of collective agreements and regular review of personnel policies.
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An Appraisal of the Impact of Information Technology (IT) on Nigeria Small and Medium Enterprises (SMEs) Performance
Authors :- Akande Olusola and Yinus Oluwaseun
Keywords :- Information Technology (IT), Small and Medium Enterprises (SMEs), ICT Adoption and Usage
Published Online :- 24 November 2013
View Full AbstractThe purpose of this paper is to investigate a deep understanding of influence of Information Technology (IT) on the performance of Small and Medium Enterprises (SMEs) operation in Nigeria. This paper attempts to explore the extent to which the improvement in SMEs operation performance can be certified to the implementation of Information technology (IT). The study was carried out in Lagos State, using multi-stage sampling technique, a sample of 200 out of 250 respondent SMEs were selected from a list of 4,535 registered small and medium Enterprises as provided by NASSMEs obtained from www.businessdayonline.com as at November 2013. Data collected were coded and analyzed using frequency table and percentage while non-parametric statistical test, chi-square was used to test the formulated hypothesis using STATA 10 data analysis package. The result of hypothesis tested showed that information technology has a significant impact on the performance of SMEs operation in Nigeria. It was concluded that involvement by SMEs in IT will significantly improve their performance in term of productivity, time saving, business turnover, operation expenses reduction and also increase level of country economy as whole. To this end, it is recommended that there in need for more training facilities in IT for SMEs, and ease of use to free professional advice and consulting on IT at reasonable cost to SMEs.
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Philosophy and Content of the Global Program “Seven Summits” in Tourism Education of Kazakhstan
Authors :- V.N.Vukolov
Keywords :- Philosophy, Global Tourist Programs, Tourism Education
Published Online :- 27 October 2013
View Full AbstractNowadays it can be considered that the initial phase of tourism industry development in the Republic of Kazakhstan is already over. Even permanent skeptics have no doubts about necessary development of this important segment of economy and the social sphere. Therefore, it is time to move from unreasonable attempts to earn (who can) money for arranging travel to the creation of methodologically and theoretically meaningful tourism industry. The main part of this comprehending process is training the specialists in tourism industry at management level, carried out at universities. Under the methodological ground of the process we understand the bearing on philosophical laws and principles which define the positive component of tourist activity. In our opinion, the leading philosophical law of this activity is the law of the unity and struggle of opposites. It is believed that in tourist activity there are three major players (participants): tourist (client); tour operator (author of tourist programs), travel agent (seller of tourist programs). They are all united in tourist activity, but in practical purpose they are opposite. Therefore, the research process of tourist activity (based on the philosophical law of unity and struggle of opposites) should focus on the following issues: a) to identify the contents of the most attractive tourist and social impact of tourism programs, b) to formulate the content of the basic training of tour operators and travel agents so that they can satisfy positive desire of tourists in socially effective way, realize their business goals and eliminate the contradictions between the participants of the tourist activity.
Methodological basis of the content of training the future managers of tourism enterprises should be real (as far as possible complex) tourist programs. Transcontinental tourist multipurpose trip can be used as such a program. During the last seven years the global tourist program “Seven Summits” has been used as a methodological basic in training students on «Tourism» specialty.
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Gap Analysis of Employee-Organization Congruence Factors: Perspective of Factory employees in Sri Lankan Apparel Sector
Authors :- Perera Gamage Dinoka Nimali, Khatibi Ali, Navarathna Nimal and Karuthan Chinna
Keywords :- Employee-Organization Congruence, Incongruent, Organizational Culture Profile.
Published Online :- 27 October 2013
View Full AbstractThis article presents a gap analysis of the employee-organization congruence (EOC) factors in the Sri Lankan Apparel Sector from the perspectives of factory employees. This study seeks to assess the gap of EOC factors based on an organizational culture profile instrument to measure five constructs: innovation, supportiveness, team orientation, outcome orientation and rewards. After conducting a pilot study, the instrument was administered to 322 factory workers who were selected based on the random sampling method in seventeen apparel firms. The analysis started with a descriptive analysis followed by factor and reliability analyses. Paired sample T-test and non parametric test were used for analyzing the gap in employee-organization congruence factors. The study revealed that overall, all congruence factors are incongruent (negative) and the gap is between .6 to .8.
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The Art of Singing from the Same Song Sheet During Changes; Some Empirical Evidence of a Real Live Project
Authors :- J R Marriott, A J Du Plessis, D Nielson, S Sukumaran
Keywords :- change management, financial management, project management, value add
Published Online :- 30 October 2013
Published Online: 30 October 2013
View Full AbstractThe need of organisations to find better returns and greater utilisation through capacity management is a constant and all pervasive aspect of contemporary management. All organisations are finding that management of its assets, in all forms, is becoming an imperative that is changing the focus of all who manage and work within the organisation. The reality of this is often a shock and becomes a change process of ensuring that all concerned share the same vision, the same direction and understand the vital aspects of the performance measures that are now being utilised. This paper utilises a metaphor of a choir that must sing in harmony and concert otherwise the resulting disharmony will lose the business competition and the choir will be forced to disband. Just as a financial institution will look for the best return from its investment portfolio, a project management organisation was researched as a case study; the paper demonstrates the combination of two fields of financial management study (project management and change management) create a useful tool for gaining the support of fellow managers, and workers from different levels, and functions of the business and from various divisions to achieve the desired improvement in return of investment of assets used by the organisation.
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Studying Advantages of Cooperative Management Administration Programs and Their Relationship with Improvement of Organizational Factors in Sepah Bank of Ardebil Province
Authors :- Ahmad Reza Shecarchizadeh, Mohammah Hosein Moshref Javadi and Zeynab Faraji Majareh
Keywords :- Organizational Structure, Participative Management, Rewarding System, Training of Employees.
Published Online :- 24 August 2013
View Full AbstractIn the contemporary management, the participation of employee in the process of decision making has always attracted the attention of theorists of this field; in addition, different ways and mechanisms have been offered in order to use their comments in organizations. However, one of the problems faced by organizations is the problem of human power and inability to use the potential ability of employees. Also the existence of traditional organization structures will make the personnel participation in organizational affairs difficult. For this reason, a study was done about the administration of cooperative management plans and organizational factors in Sepah bank in Ardebil region. The independent variable consisted of components of clear objectives, evaluation of performance, organizational structure, training of employees, rewarding system, and access of employees to resources. The dependent variable was cooperative management. The goal of this study was to establish cooperative programs in the direction of improvement of organizational factors, particularly among employees that increase the amount of effectiveness of employees as the main resources of the organization, and reduce additional costs. This research was done in the form of descriptive survey with the aim of studying the advantages of administration of cooperative management programs and their relationship with improvement of organizational factors in Sepah bank of Ardebil province. Standardized questionnaires of Whetten & Camera were used with slight changes. 172 questionnaires were distributed among employees from which 120 were answered and returned. Correlative coefficient of Pierson was used in this research because there was a relationship between dependent and independent variables, and the components of independent variable were ordinal. The findings indicated that there was a meaningful relationship between dependent and independent variables. In other words, there is a direct relationship between organizational factors and cooperative programs. Therefore, we can use cooperative management programs in banks and other government offices that have traditional structures with dictated programs in order to present more awareness to employees and create a cooperative atmosphere in organizations and also improve organizational structures along with an ideal and effective performance.
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Designing Evaluation Performance Model for Authorities Counter Meli Bank
Authors :- Sedigheh Rostami,Mohammad Thaghi Mahmoudi and Sfandiar Ahangedeh
Keywords :- Balance scored card, European Foundation Quality Management, performance evaluation, performance improvement.
Published Online :- 27 October 2013
View Full AbstractHuman resources are among principles of every organization; its performance improvement highly increases organization performance. It is significant for government banks which have great structures, may deal with government cash flow responsibility and their improved plans can help increase the given services to people. So, this present thesis aims at giving performance assessment model which is combination of balance scored card models and European Foundation Quality Management model to achieve an effective approach to assess Bank in charges performance (receipt and payment in charges of the branch). Analyzing strengths and weaknesses of mentioned models, we collect our data by Delphi technique process and three questionnaires prepared by 20masters of Meli Bank and proficient’s, locate under scales of improvement model separately in different landscapes of balance scored cards. To justify the model and determinate variables relations regarding Morgan Table, a sample of 52 Meli Bank staffs of Shahrekord town selected and the questionnaire distributed. To confirm its validity, expertise of 5 professors were required. Gained permanence by kronbakh α is. / 94. Finally to achieve the aims of research, SPSS and Laiserl software’s used to analyze data. Results of factor assessment show a meaningful relation between variables and appropriateness of suggested model. Thus, we can consider important aspects of counter in charges performance achievements by this model.
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Presentation a Model for Integration of Fuzzy Data Envelopment Analysis and Goal Programming
Authors :- Samira Rahmani-Moghadam, Samane Karimi-Ghartemani, Nazhat Abbaspoor and Ahmadrea Shekarchizade
Keywords :- Efficiency, Data Envelopment Analysis, Goal Programming, fuzzy situation, efficiency
Published Online :- 14 June 2013
View Full AbstractData Envelopment Analysis (DEA) has been a very popular non-parametric technique for measuring and benchmarking relative efficiency of Decision Making Units (DMUs) with multiple input and outputs. In fact, in a real evaluation problem input and output data of things evaluated often fluctuate. These fluctuating data can be represented as linguistic variables characterized by fuzzy numbers for reflecting a kind of general feeling or experience of experts. Based on the fundamental CCR model, a fuzzy DEA model is proposed to deal with the efficiency evaluation problem with the given fuzzy input and output data. Furthermore, an extension of the fuzzy DEA model to a more general form is also proposed with considering the relationship between DEA and GR (Goal Programing).
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E-Services Usage Evaluation; Applications’ level of Co-Creation and Digitalization
Authors :- Hamed Taherdoost, Shamsul Sahibuddin and Neda Jalaliyoon
Keywords :- E-service, Digitalization, Co-Creation, E-commerce, Classification of Service
Published Online :- 14 June 2013
View Full AbstractNowadays, many traditional services have been moved or planning to move to the electronic environment. As a result of this movement enterprises need to realize the users’ motivations regarding the electronic service applications. Electronic services have been classified on two dimensions, the degree of digitization and the ability for co-creation in 2*2 matrix. This paper aims to evaluate the usage of these four areas. In this regard, 38 services have been introduced under the eleven e-service applications, and then a questionnaire was distributed among 172 e-service users. The results show that services with the high level of digitalization and the low level of co-creation be mostly used.
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