Open Access Original Research Article

Stakeholders’ Perception on Self Help Group’s Quality Parameters: A Psychometrics Analysis

Sanjay Kanti Das, Amalesh Bhowal

Journal of Economics, Management and Trade, Page 487-522
DOI: 10.9734/BJEMT/2014/7570

Aims: The main objective of this paper is to assess the opinion of the direct stakeholders (i.e. Promoters, Donors, Financial Institutions and Group itself) of SHGs regarding the parameters (like design, governance, operational, impact etc.) to be considered while assessing the quality of SHGs.

Study Design: The study was exploratory in nature with Meta Analysis as well as Psychometric Approach based on empiricism.

Place and Duration of Study: The present study covers all the direct Stakeholders of SHGs of Nagaon districts of Assam, India only. Information through questionnaires were collected during first half of 2012 i.e. from March, 2012 to July, 2012.

Methodology: The information about the number of SHGs in respective development blocks and number of other stakeholders were obtained from the Office of DRDA, Nagaon, Assam, India. With multi-stage random sampling method, initially after collection of 116 filled up questionnaires from the respondents, editing of the data was undertaken in order to ensure the omission, completeness and consistency of the data. Finally, 100 questionnaires consisting 44 SHG group members, 12 Financial, 10 Donors and 34 promoters were selected. The questionnaire was personally administered to all direct stakeholders except Group members. Some questionnaires were collected directly by the researcher on face-to-face method and some of them were collected by arranging meetings at village level. In order to gain an in-depth understanding on the research topic specially structured questionnaires were prepared and were later judged by groups of content judges and finally it was pilot tested. Further, the data collected through the questionnaires were analysed through measures of descriptive statistics like mean, median and standard deviation. Chronbach’s alpha, one sample Kolmogorov- Smirnov Test, Shapiro-Wilk Test, Kruskal Wallis Test and Eta Squared Test were also applied in analysing and interpreting the data.

Results: It was observed from KW Test that there exists enough evidence to conclude that there is a no difference among the opinion of the direct stakeholders of SHGs regarding the parameters to be considered while assessing the quality of SHGs. Further, to investigate the degree of association, Eta Squared test was conducted and it indicates low a level of association.

Conclusion: It can be discerned that Groups of QAP-I covering feeling of homogeneity/ solidarity, member awareness about financial, transactions involvement in village issues etc. are the statements where there are no differences of opinion amongst the stakeholders while Groups of QAP-II where differences of opinion exists amongst the stakeholders exists and are considered more decisive statements or factors influencing the quality assessment parameters of SHG under given methodology which was also virtually supported by other researchers. Further, the present study also satisfies the two models of generalisability i.e. Statistical generalisation and transferability or reader generalisability.

 

Open Access Original Research Article

Factors Influencing Bank Transparency: Case of Emerging Markets

Samir Srairi, Ismail Ben Douissa

Journal of Economics, Management and Trade, Page 523-540
DOI: 10.9734/BJEMT/2014/6167

Using a random effect regression, this paper examines internal and external factors that may explain the differences of transparency across banks. Our sample is an unbalanced panel data of 69 commercial banks operating in seven emerging countries (Egypt, Lebanon, Malaysia, Morocco, Thailand, Tunisia and Turkey) over the period 2006-2009. The results relative to governance variables indicate that ownership concentration has a negative effect on transparency. We also find a positive correlation of transparency with government ownership. Concerning macroeconomic and juridical indicators, we observe a positive association of transparency with the existence of an explicit system of deposits insurance, the protection of stockholders’ rights, and a negative one with the development of financial market and inflation. Finally, as for the impact of banks’ characteristics, the empirical results show only an association between transparency and profitability measured by ROE and ROA.

Open Access Original Research Article

Determinants of Loan Repayment: A Study of Rural Women Fish Traders in Akwa Ibom State, Nigeria

Bassey Nsikan Edet, Elizabeth A. Atairet, Kesit Kufre Nkeme, Udoh Ekaete Sunday

Journal of Economics, Management and Trade, Page 541-550
DOI: 10.9734/BJEMT/2014/6330

The paper estimated the loan repayment index and examined the determinants of loan repayment from a sample of 80 rural women fish traders obtained through a multi-stage sampling in four selected markets in Akwa Ibom State, Nigeria. Data were collected in May, 2013 and analyzed using descriptive and inferential statistics. Findings revealed that informal sources of loan were popular among the fish traders. The result of the probit analysis revealed that educational level, interest rate charged, spouse income, marketing experience, personal income of traders, non fish marketing income and household size were the major determinants of loan repayment in the study area. The reasons for loan default in order of importance were; family commitment, untimely loan disbursement, high interest rate charged as well as unforeseen circumstances. The study further revealed that only 63 percent of the total loan accessed by respondents was repaid. The paper recommended the evolution of a more proactive loan monitoring procedure by lenders such as verification of the loan worthiness and previous loan repayment history of borrowers before granting loans, encouraging the patronage of formal credit sources, pursuing policies that would reduce household sizes as well as the setting - up of loan delinquent court to prosecute defaulters as the way out.

Open Access Original Research Article

Empirical Evidence of Climate Change: Effects on Rice Production in the Northern Region of Ghana

Franklin Nantui Mabe, Daniel Bruce Sarpong, Yaw Osei-Asare

Journal of Economics, Management and Trade, Page 551-562
DOI: 10.9734/BJEMT/2014/7474

The evidence of climate change is very crucial in finding alternative solutions to dealing with its effects on agricultural productivity. This study analysed the empirical evidence of climate change and its effects on rice production in the Northern Region of Ghana. The study used paired t-test to establish that climate change is evident in the study area. The climatic conditions in the area have become warmer over the past 40years. Yield response regression model used to determine the effects of temperature and rainfall on rice yield indicated that if an average annual temperature increases by 1ºC, rice yield will decrease by 0.15mt/ha. The study recommends that NGOs and District Assemblies should introduce water conserving measures such as rain harvesting technology to farmers. Farmers should be encouraged to plant trees or integrate trees in their rice farms to serve as canopies to reduce the amount of temperature reaching rice plants.

Open Access Original Research Article

Consumer Perception and Acceptability of Tomato-based Fruit Pulp Mixes

B. A. Oluwale, A. B. Ilori, C. T. Akanbi

Journal of Economics, Management and Trade, Page 563-577
DOI: 10.9734/BJEMT/2014/7309

This study determined the perception of consumers on the acceptability of tomato-based fruit pulp mixes with a view to establishing the commercial viability of the production process. Three product alternatives earlier established in the laboratory were considered for the study. Product A contained (33.3% tomato + 33.3% watermelon + 33.3% pineapple). Product B contained (50% tomato + 25% watermelon + 25% pineapple) while Product C contained (25% tomato + 25% watermelon + 50% pineapple pulps). The perceptions of the potential consumers and producers of the products were assessed using two sets of questionnaire. For the consumers, 265 respondents were purposively selected from southwestern Nigeria. Majority (72.0%) of the respondents would like to consume the tomato-based fruits pulp mixes if they are available in the market while 0.8% would not and 27.2% were not sure. Majority (68.7%) of the respondents would prefer Product A while 18.9% and 12% preferred products A and B respectively. Among the factors responsible for the consumers’ willingness to consume the products, high nutritional (3.58) and anti-oxidant (3.10) contents were rated significantly higher (P=0.05). The fruit companies were also willing to produce the product provided the raw materials are available.

Open Access Original Research Article

A Preliminary Study of Stock Picking in the Construction Industry of Taiwan: Efficient Market Hypothesis Revisited

Yu-wei Lan, Dan Lin, Yu-Je Lee

Journal of Economics, Management and Trade, Page 578-596
DOI: 10.9734/BJEMT/2014/6937

One of the trading techniques that become popular among many traders is the technical analysis, which prospers through the first half of the 20th century. In recent years, this method is used less frequently and works only for less liquid securities. However, Aldridge (2009) finds that the technical analysis can still generate profitable trading signals based on intra-day data sampled at hourly intervals. In this study, we utilize VAR, Granger causality test and co integration test to construct models with sound theoretic basis and take the sample at daily intervals. In addition, we adopt an experimental design to exam these models and find supporting evidence for the technical analysis.

This study uses High wealth Construction in the Taiwan stock market as a sample case to compare the program trading profits when foreign institutional investors’ (FINI) trading information is used and when domestic industrial information is used. The results show that co integration exists for High wealth Construction’s stock. At the first stage (2007.1.2-2010.8.2), the profit is $29.3, which increases to $35.5 at the second stage (2007.1.2-2013.2.1). In addition, we show that utilizing domestic information, specifically, the historical price of Taiwan 50 and Huaku, rather than the securities lending information of FINI, investors are able to make higher profits. Therefore, this study provides evidence that the construction industry in Taiwan during the period August 2010 and January 2013 does not support the weak-form market efficiency.

Open Access Original Research Article

Predicting Direction of Stock Prices Index Movement Using Artificial Neural Networks: The Case of Libyan Financial Market

Najeb Masoud

Journal of Economics, Management and Trade, Page 597-619
DOI: 10.9734/BJEMT/2014/5519

Aims: The aim of this paper is to present techniques indicators of artificial neural networks (ANNs) model using for predicting the exact movements of stock price in the daily Libyan Stock Market (LSM) index forecasting.

Study Design: Research paper.

Place and Duration of Study: Libyan stock market from January 2, 2007 to March 28, 2013. 

Methodology: The data from an emerging market Libyan Stock Market are applied as a case study. Twelve technical indicators were selected as inputs of the proposed models. The forecasting ability of the ANN model is accessed using back-propagation neural network of errors such as MAE, RMSE, MAPE and R2. Two comprehensive parameter setting experiments for both the technical indicators and the levels of the index in the market were performed to improve their prediction performances.

Results: The experimental statistical results show that the ANN model accurately predicted the direction of movement with the average prediction rate 91% of data analysis in its best case, which is a perfectly good outcome. The relationship strength between parameter combination and forecast accuracy measures such as MAE, MAPE, and RMSE is strong (R2≥0.99). The statistical and financial performance of this technique is evaluated and empirical results revealed that artificial neural networks can be used as a better alternative technique for forecasting the daily stock market prices.

Conclusion: This study proved the significance of using twelve particular technical market indicators which gave also useful results in predicting the direction of stock price movement. To improve ANN model capabilities, a mixture of technical and fundamental factors as inputs over different time period were used to be an effective tool in forecasting the market level and direction.

Open Access Original Research Article

Perception Survey of Employees Participation in Decision Making and Organizational Productivity in Julius Berger Nigeria PLC Bonny Island

Mba Okechukwu Agwu, Hilda Enoh Olele

Journal of Economics, Management and Trade, Page 620-637
DOI: 10.9734/BJEMT/2014/5938

The paper is a perception survey of employees’ participation in decision making and organizational productivity in Julius Berger Nigeria Plc. Bonny Island. It defines employees’ participation in decision making as a process of sharing influence in decision making among individuals who are otherwise hierarchically unequal. It assumes that involvement of employees in decision making increases their commitment and organizational productivity. The research question addressed the extent of the relationship between employees’ participation in decision making and increased employees commitment and organizational productivity 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 May 2012 and June 2013. A descriptive research design was used in executing the study using 200 randomly selected respondents from a population of 2000 employees for questionnaire administration. The sample size of 200 was judgmentally determined from 10% of the population size. 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 employees’ participation in decision making and increased employees commitment and organizational productivity. The research therefore concludes that significant relationship exists between employees’ participation in decision making and organizational productivity in Julius Berger Nigeria Plc. Bonny Island and recommends among others: encouragement of work teams, training and re-training of employees, improvement of reward system and improvement of internal communication channels.

Open Access Original Research Article

Perceived Support and Work Attitudes among Korean Fitness Club Employees

Boyun Woo, Packianathan Chelladurai

Journal of Economics, Management and Trade, Page 638-653
DOI: 10.9734/BJEMT/2014/7744

The purpose of the study was to investigate the relationship between perceived support and affective commitment and the impact of affective commitment on work effort and intention to leave the organization among Korean fitness club employees. In addition, the moderating role of collectivism on the relationship between affective commitment and work outcomes was also examined. The data provided by 330 Korean fitness club employees were analyzed using structural equation modeling and regression analyses. The results of confirmatory factor analysis and structural equation modeling showed that the proposed model fit reasonably well. Perceived Support explained 76% of variance in Affective Commitment and along with Affective Commitment, explained 42.6% of variance in Work Effort. In addition, Affective Commitment by itself explained 62.9% of variance in Intention to Leave. Finally, regression analyses showed that collectivism moderated the relationship between affective commitment and work effort. Practical and theoretical significance of these results are discussed.

Open Access Original Research Article

Exchange Rate Volatility Analysis of the Rwandan Franc (1990-2010)

Warren Tibesigwa, William Kaberuka

Journal of Economics, Management and Trade, Page 654-671
DOI: 10.9734/BJEMT/2014/7828

This study analyses the volatility of foreign exchange rate and its causes in the Rwandan Economy and then derives appropriate statistical models for forecasting the foreign exchange rate of that economy. Univariate volatility and conventional time series models are applied to the exchange rate data and their forecasting powers compared using a set of accuracy measures like AIC, Log Likelihood and BIC. The study also sought to investigate whether News affect exchange rates of Rwanda. The News includes the genocide of 1994 and the country’s joining of EAC in July 2007. Significant volatility models are obtained for Rwandan exchange rate data implying that the concept of volatility has relevance in this particular economy. The models both symmetric and asymmetric used in this research are GARCH and its family of models like EGARCH. The EVIEWS statistical package is used in the analysis. The models obtained indicated that the Rwanda exchange rate is highly volatile and is affected by news. The 1994 genocide was found to increase the exchange rate volatility while the integration of the economy into the East African Community was found to reduce the exchange rate volatility. The country is therefore encouraged to open up its economy to the outside markets especially those in the region. This will not only reduce the exchange rate volatility but also encourage both local and foreign investors.