Open Access Original Research Article

Non-pecuniary Factors in Work Incentive Models: Social Preference and Social Esteem Approaches

Akinori Tomohara, Akihiko Ohno

Journal of Economics, Management and Trade, Page 1-13
DOI: 10.9734/BJEMT/2015/13117

This study examines the relevance of different approaches related to non-pecuniary factors by distinguishing positive from negative work attitudes (e.g., effort and shirking). Using survey data, we quantify the relative importance of several human resource management practices. Results show that the social esteem approach, including pride and shame, is more prevalent than the social preference approach, including reciprocity and fairness, with respect to effort. However, the latter approach is as important as the former approach with respect to shirking. These results are robust, irrespective of gender. Distinguishing the context of work incentives, either effort or shirking, is crucially important when discussing the effects of non-pecuniary factors.

 

Open Access Original Research Article

The Impact of Sales Promotion by Cocoa Licensed Buying Companies on Sales of Farmers in Wassa Amenfi East District of Ghana

Kofi Poku, Deborah Ivy Lamptey

Journal of Economics, Management and Trade, Page 14-34
DOI: 10.9734/BJEMT/2015/12025

Aims: The study sought to assess the effects of sales promotional programmes on cocoa sales of farmers by Licensing Buying Companies (LBCs) in the district. The main aim of the research was to identify the influence of sales promotions on the purchases of LBCs in Wassa Amenfi East Cocoa District. Specifically, the study sought to achieve the following objectives. (1)To identify the incentive programmes made available to cocoa farmers by Licensed Buying Companies in Wassa Amenfi East District. (2) To analyse the sales trend of cocoa in the Wassa Amenfi East District by the Licensing Buying Companies. (3) To identify the challenges associated with farmer incentive programmes as a marketing strategy in the Wassa Amenfi East District. (4) To assess how incentive programmes affect the purchases of Licensing Buying Companies (LBC’s) in the District. (5) To propose ways of improving cocoa purchases in the Wassa Amenfi East District.

Study Design: A case study was used to investigate into this phenomenon to give generalization of that phenomenon. Again, the study did an in-depth review on the subject in Ghana to augment and validate empirical findings. Moreover, the study adopted a more scientific method in collecting and analyzing data for presentation. The research used both qualitative and quantitative methods of analysis. The intent of using quantitative method for this study was to establish, confirm, or validate relationships and to develop generalizations that contribute to theory. Qualitative method was used for this study because, it is less structured in description and it formulates and builds new theories. This made the findings of the study both valid and reliable.

Place and Duration of Study: The study was focused on cocoa marketing activities in the Wassa Amenfi East District in the Western Region of Ghana between March 2013 and June 2013.

Methodology: Data for the study was obtained from both primary and secondary sources. Purposive Sampling, Simple random sampling and Snow ball sampling techniques were used to select the purchasing clerks, cocoa farmers and district managers respectively. The District has thirty three thousand, five hundred and twenty four (33,524) cocoa farmers, fourteen (14) Licensing Buying Companies and about two hundred and sixty-one (261) purchasing clerks. The data was collected from one hundred and fifty-five (155) respondents who were cocoa farmers in addition to ninety eight (98) Purchasing Clerks (PCs) and fourteen (14) district managers of the various Licensing Buying Companies. The data was collated, synthesized and analyzed with the use of SPSS and Excel. The study adopted the quantitative analyses (Regression Analysis).

Results: The analyses have shown that the provision of fertilizer to farmers by LBCs is one most important sales promotional package that greatly influences farmers’ decision to sell to a particular LBC. According to a Focus Group Discussion with Farmers, it was discovered that farmrelated sales promotional inputs such as fertilizers helps farmers to increase their productivity. Sales promotional programmes also increase the purchases of cocoa by PCs of LBCs and influence the choice of LBCs by the cocoa farmer. Fertilizers assist farmers to reduce their expenditure and thus keep the providing LBC in remembrance during the cocoa seasons.

Conclusion: The study therefore recommended that there should be timely supply of Sales Promotional Programmes, development of mechanism to check default, motivation of PCs by LBCs and equity in the Distribution of Sales Promotional Packages.

 

 

Open Access Original Research Article

Analysis of the Determinants of Fresh Fish Marketing and Profitability among Captured Fish Traders in South-South Nigeria: The Case of Akwa Ibom State

Nsikan Edet Bassey, E. Okon Uwemedimo, Umoh Idaraesit Uwem, Nyong Eteyen Edet

Journal of Economics, Management and Trade, Page 35-45
DOI: 10.9734/BJEMT/2015/10744

The study analyzed the determinants of fish marketing and profitability in four selected markets in Akwa Ibom State, Nigeria. Primary data collected through a multi stage  random sampling of eighty (80) fish traders were analyzed using descriptive statistics, profitability ratios, Gross and marketing margins as well as Ordinary Least Square (OLS) regression. Result showed the dominance of married (75%), female marketers (70%) with high level of education. The result further showed that N 145.83 and N147.00 accrued to wholesalers and retailers as net income per kilogram of fish sold, representing 28.10% and 25.7% of the total marketing margins, with marketing efficiency of 674.14% and 787.78% respectively. This, together with the profitability Index (PI) of 0.24 and 0.23 and Operating ratio (OR) of 0.76 and 0.77 for wholesalers and retailers further lend credence to the profitability of fish marketing in the study area. Among the factors which impacted significantly on fish trader’s profit were marketing experience, access to credit, storage cost, transportation cost, fish buying prices and age of marketers. Also, high transport cost, inadequate storage facilities, poor funding, high levy and other taxes were identified as the major challenges faced by fish marketers in the study area. These observation suggest the need to reduce transport and storage cost by providing access roads, rehabilitating damaged roads, providing storage facilities such as cool rooms and warehouses at affordable storage rates. Access to agricultural marketing loans should be enhanced through the provision of affordable credit. These, together with the evolution of a realistic tariff and tax structure would promote fish marketing and enhance marketing efficiency in the study area. Also, our unemployed youths should be encouraged through awareness campaigns to venture into fish marketing as a profitable venture in the study area.

 

Open Access Original Research Article

Factorial Analysis of Economic Growth within International Labor Migration Dynamics

Elena Kozlova

Journal of Economics, Management and Trade, Page 68-77
DOI: 10.9734/BJEMT/2015/12601

International labor migration as determinant of the current stage of world economy progress, as a symbol of labor market globalization and industrial relations universalization has been actively studied by representatives of different scientific schools and directions of economic theory. Proposed approaches and models form basis for practical research of international migration, identify patterns of migration processes that contribute increasing of capacity to form and to forecast migration dynamics and preventive adaptation of national migration policies to tendencies of global labor market.

At the same time provision of National economic growth (often in conditions of limited resources and natural abilities, of global dynamic increasing and so on) is an important socio-economical function of modern governments and national development strategies.

Due to these aspects definition of the theoretical principles to increase a stimulate effect of labor factor (national and foreign) economical usage seems extremely important and relevant.   

This paper analyzes role of natural-resources, financial and labor factors in stimulation of economic growth of the modern states; studies relationships between stimulating role of natural resources, finance and labor with levels of modern countries’ economy development. For conducting this research secondary statistical data (World Bank, UNESCO) on economical and social performances of 72 modern countries and global economic dynamic for last 8 years was used, and original authors’ system of aggregated indicators was created and offered.   

Based on achieved results findings about fundamental reasons of international migration; transformation of labor factor’s role in providing an economical progress of the states; efficiency of positive impact of manufacturing factors (domestic and attracted from international markets) were offered. These recommendations can be considered as a theoretical platform for creation and further development of National Migration policy and countries effective positioning in the global labor market within transnational labor movement.

 

Open Access Original Research Article

Factors Influencing Farmers’ Decision to Shift to Organic Farming: The Case of Gaza Strip

Ahmed Abu Shaban

Journal of Economics, Management and Trade, Page 78-87
DOI: 10.9734/BJEMT/2015/11708

The building of proper policies for the promotion of organic farming should be based on good understanding of the factors that affect farmers' decision to shift to organic farming. This study aims at defining the determinants of farmers' decision to convert to organic agriculture in the Gaza strip. The analyses of this study are based on data of 100 randomly-selected vegetables farmers in southern Gaza strip. Based on previous studies and focus group discussions, the study hypothesized three factors as the potential determinants of farmers' decision to convert to organic farming. The potential determinants are the socioeconomic and the demographic characteristics of farmers; attitudes towards organic farming; and the perceived economic performance of organic farming. Farmers were categorized into two groups based on their intention to convert to organic farming. Logit regression is then applied to test the hypnotized determinants for their power as predictors of farmers' conversion decision. The estimated logit regression model shows that attitude towards organic farming and farmers' education can be good predictors of the intention of conventional farmers to convert to organic farming. Results suggest that farmers with higher education level and better attitudes towards organic farming are more likely to convert. The study proved the significance of education and awareness on environmental issues affecting the farmers' conversion decisions. Therefore, policies for promoting organic farming should take into consideration noneconomic and non-technical factors to enable wider transition from conventional to organic farming.

 

Open Access Original Research Article

Corporate Fraud Tendencies Versus Initial Public Offerings (IPOs) Initial Returns Volatility

A. A. A. Bruce, P. M. C. Thilakaratne

Journal of Economics, Management and Trade, Page 88-104
DOI: 10.9734/BJEMT/2015/12762

We examine the initial returns volatility of initial public offering by determining: (1) whether mispricing actually takes place during and after IPOs in Nigeria and Sri Lanka; (2) whether the mispricing (overpricing or underpricing) could constitute corporate fraud tendencies since data to measure fraud in emerging markets of Nigeria and Sri Lanka is secretive and unattainable. We use dummy proxies from 1987-2012 and 1988-2012 for the Nigerian Stock Exchange and the Colombo Stock Exchange, respectively. The OLS and GARCH models show that fraud tendency via underpricing and overpricing is very prominent and highly pronounced in the Nigerian and the Sri Lankan markets as they seriously cause volatile returns during the first-day, monthly and yearly trading of the IPOs probably to satisfy the ego of corporate agents for “money left on the table” and/or “promise for future banking business”.

  

Open Access Original Research Article

Bitcoin: Exchange Rate Parity, Risk Premium, and Arbitrage Stickiness

Huijian Dong, Weiguo Dong

Journal of Economics, Management and Trade, Page 105-113
DOI: 10.9734/BJEMT/2015/13308

Bitcoin has two major roles: as currency and as financial asset. This paper attempts to address these roles: whether Bitcoin is a real currency, and what its financial features are. Using daily data of the exchange rates quoted from the world major Bitcoin dealer since the inception of Bitcoin and the spot market exchange rates, we calculate the triangle arbitrage asset price to decompose the features of this currency. The results suggest significant liquidity discount of Bitcoin and risk premium as a financial asset in terms of British Pound Sterling (2.46%) and Chinese Yuan (0.3%). There is idiosyncratic risk component associated with Bitcoin implied by the Granger causality tests. Bitcoin, as investment objectives instead of currency unit, is associated with excess risk and low returns. Such poor performance discourages investors to spend Bitcoin as currency and to pursue the arbitrage profit. Investors store and hold Bitcoin as fixed asset. In addition, both arbitrage stickiness and low Treynor ratio are persistent over time.

 

Open Access Original Research Article

Macro-Stress Testing in Deregulated and Consolidated Regimes: Episode of Nigerian Banks

Nwachukwu Uche, C. Nwakanma Prince, Arewa Ajibola

Journal of Economics, Management and Trade, Page 114-123
DOI: 10.9734/BJEMT/2015/11088

The study provides a modified credit risk to reveal the relationships between a set of macroeconomic variables and bank risk in Nigeria for 1981 to 2013 using time series data from the various volumes of the CBN Statistic bulletin and the annual financial review of the banks. The results reveal that growth rate, interest rate and monetary policy rate have significant relationships with credit risk while unemployment and money supply maintain zero relationships. However, the strength of these relationships is found to be stronger in the regime of consolidation than deregulation era in Nigeria.

 

Open Access Original Research Article

Poverty Reduction in Nigeria: Lessons from Small Scale Farmers of Niger and Kogi States

J. N. Nmadu, E. S. Yisa, J. O. Simpa, H. Sallawu

Journal of Economics, Management and Trade, Page 124-134
DOI: 10.9734/BJEMT/2015/13321

Data for this study was collected using multi-stage sampling technique using structured questionnaire and interview schedules during the 2012/2013 farming season, obtained from randomly selecting 12 LGAs from the 46 LGAs, followed by the random selection of five villages in each LGA (i.e. 60 villages), and then random selection of nine farming households in each village (i.e. 540) sample size.From the 540 sample, poor and non-poor farmers were estimated and presented under different domains using dollar per day, minimum wage and average income; and the time required for the poor to exit poverty was computed using Watts Index. Farmers in this area have exited the international poverty line as only 3% of the farmers fall below the dollar poverty line while most (66%) of them are below the average income poverty line. Farmers from Kogi States were poorer than those of Niger under the three poverty lines although almost equal per cent of male and female farmers were non-poor under the dollar poverty line. Separated family members, those from Dekina LGA and those had only in-service training seems to exhibit high level of poverty. Farmers that went through adult education training are among the richest. Eleven years is needed for the poor farmers to exit poverty on transfer of N584,267.92 ($3,651.67) to them. It appears that the critical policies needed to achieve the transformation agenda are client specific solutions to poverty reduction that addresses the issues of wealth distribution and enhanced property rights among homogenous income groups rather than national or international approach.

 

Open Access Case Reports / Case Studies

The Impact of the Concept (Ba) on Knowledge Managementan Applied Study in Cairo Amman Bank in Jordan

Ali Hadi Jebrin

Journal of Economics, Management and Trade, Page 46-67
DOI: 10.9734/BJEMT/2015/11571

There are many concepts of modern management models, which constitute a great revolution in the management and excellence organizations, including the concept of (Ba) and its relationship to knowledge management, But this issue did not get the subsequent studies and research, especially in the Arab region that is still practiced Industry economy has yet to turn to the knowledge economy, which dealt with the concept of (Ba).

The aim of this study is coming from this issue did not get the subsequent studies and research, especially in the Arab region that is still practiced Industry economy has yet to turn to the knowledge economy, which dealt with the concept of (Ba).

The importance of this study lies in the importance of the subject matter dealt with, they are dealing with one of the most modern management concepts put forward at the present time, as the rapid changes in the form of global economy And shift the global economy from industry to the knowledge economy based on knowledge and experience and Human capital. And from management of things to the management of knowledge.

The researcher choose the Cairo Amman Bank to represent the population of the study, Cairo Amman Bank consists of 90 branch identified study sample from 30Executive Managers in all branch of bank.

The study come to a set of conclusions was the most important of which is: There is impact of the independent variables (Socialization, Externalization, Combination, and Internalization) on the (KM)), the findings revealed focused response (study sample) in strongly agreeing and agreeing to most of the elements and variables of concept (Ba), in the Cairo Amman Bank Where most managers stressed the importance of these elements and their belief in turn help in Knowledge Management.