Open Access Original Research Article

Will You Purchase Green Products? The Joint Mediating Impact of Environmental Concern and Environmental Responsibility on Consumers’ Attitude and Purchase Intention

Afzaal Ali, Guo Xiaoling, Mehkar Sherwani, Adnan Ali

Journal of Economics, Management and Trade, Page 80-93
DOI: 10.9734/BJEMT/2015/17438

Aims: This study attempts to test the revised model of Theory of Planned behavior to predict the factors and possible paths to encourage customers for green purchasing in the home appliance industry.

Study Design: All constructs were measured on five-point likert scales anchored by 1 (strongly disagree) and 5 (strongly agree). All measures for the constructs were borrowed from previous researches, which were carried out from green marketing and green products perspective due to their proved reliability and validity.

Methodology: The researchers distributed 350 questionnaires using survey methodology based on convenient sampling of the population of eight universities located in four cities of Pakistani. Consumers who had experience purchasing electronic products were the focus of this research. The researchers chose Haier Pakistan’s electronics products, as Haier is offering eco-friendly home appliances products to customers. In order to collect the required information, this study utilized a survey approach with self-administered questionnaires, which were distributed in offices of male and female faculty members as in the -drop off and collect- technique.

Results: We investigated how a change in the consumers’ environmental knowledge of green phenomena can help customers to align attitude with green purchase intention. The findings showed that green buying behavior was increased by effectively enhancing customers’ knowledge of the benefits of green products, the availability of these products and their performance in comparison to conventional products.

Conclusion: The findings suggest that green buying behavior is increased in customers by effectively enhancing their knowledge of the benefits of green products, the availability of these products and their performance compared to conventional products. However, it is important to increase the customers’ current level of environmental knowledge through an effective marketing campaign. In the future this could develop environmental concerns and environmental responsibility in the mind and hearts of potential targeted customers of green products. This will push customers to form a positive attitude towards green products and invoke green purchasing intentions.

Open Access Original Research Article

Forecasting Refined Petroleum Products Prices in Ghana

Akyene Tetteh, Qi Xu

Journal of Economics, Management and Trade, Page 94-107
DOI: 10.9734/BJEMT/2015/17766

Ghanaian’s demand for refined petroleum products keeps increasing although monthly prices of the product keeps rising. The paper aims to forecast refined petroleum products (gasoline, diesel, kerosene and LPG) future prices trends in Ghana. Employing benchmark techniques, cointegration, generalized autoregressive conditional heteroskedasticity (GARCH) and artificial neural network (ANN) to analyze in-sample (Jan-89 to Oct-14) and out-of-sample (Nov-14 to Dec-30) monthly data of refined petroleum products and socio-economic variables. The in-sample investigation result suggested that averagely refined petroleum products are uniformly priced in Ghana and LPG price is highly adjusted in times of refined petroleum product increment. Out-of-sample results indicates a steadily price surge of refined petroleum products in the future with ANN forecasting technique recording the best forecasting performance value.

Open Access Original Research Article

Bank Corporate Lending: A Bubble in Progress and Suggested Remedies

David Kohn, James S. Sagner

Journal of Economics, Management and Trade, Page 108-119
DOI: 10.9734/BJEMT/2015/18019

The causes of the Great Recession (beginning in 2008) and the solutions to prevent a recurrence have been argued over endlessly. The government has responded with various actions: e.g., the Dodd-Frank Act (2010); stronger oversight of the activities of commercial and investment banks; etc. A significant unaddressed financial concern is the process of bank lending to businesses, which is largely unrestricted as to loan policies, required collateral and other safeguards, and the strength of loan covenants that protect the bank during the duration of the loan. This article discusses the situation with regard to loan covenants and suggests various remedies.

Open Access Original Research Article

Dynamic Model of the Price Dispersion of Homogeneous Goods

Joachim Kaldasch

Journal of Economics, Management and Trade, Page 120-131
DOI: 10.9734/BJEMT/2015/17849

Presented is an analytic microeconomic model of the temporal price dispersion of homogeneous goods in polypoly markets. This new approach is based on the idea that the price dispersion has its origin in the dynamics of the purchase process. The price dispersion is determined by the chance that demanded and supplied product units meet in a given price interval. It can be characterized by a fat-tailed Laplace distribution for short and by a lognormal distribution for long time horizons. Taking random temporal variations of demanded and supplied units into account both the mean price and also the standard deviation of the price dispersion are governed by a lognormal distribution. A comparison with empirical investigations confirms the model statements.  

Open Access Original Research Article

The Development of Polish Life Insurance Market in the Context of Austrian School – Client’s Approach

Andrzej Janowski

Journal of Economics, Management and Trade, Page 132-143
DOI: 10.9734/BJEMT/2015/17828

Aims: The aim of this paper is to show the empirical relation between the insurance agents' specified personal qualities and the efficiency of life insurance companies in thecontext of future development perspectives, based on meta – analysis and conducted inthree domestic scientific projects and one international.

Study Design: “Identification of talent management dissemination level in life insurance companies”, “Identification of competency management dissemination level in life insurance companies”, “Identification of efficiency ratios implementation level in life insurance companies”.

Place and Duration of Study: The territory of Poland and Lithuania, years 2005-2012.

Methodology: The research was conducted on the territory of Poland and Lithuania in the years 2005-2007 and 2011-2012, during the scientific project at the Higher School of Personnel Management in Konin. The aim of the above research was to identify the most important factors determining purchasing decisions to buy life insurance policies (Delphi method, questionnaires, storytelling).

Results: The research sample consisted of 476 insurance agents, 232 life insurance sales managers, and 796 clients of four biggest (referring to market shares) Polish insurance companies. All the above participants were asked the same questions to increase research reliability. The main factors of life insurance sales efficiency were evaluated and ranked.

Conclusions: It seems to be authorized to claim, that the situation in the Polish life insurance market is complex and experiences (including sales strategies) from mature foreign markets are not suitable in the Central Europe. Moreover, results from the territory of Lithuania confirm that compensation system becomes (sooner or later) the root of financial problems and law suits risk exposure for life insurance companies.

Open Access Original Research Article

The Effect of Globalization on Selected Sectors of the Nigerian Economy: Agriculture, Manufacturing and International Trade

Usenobong F. Akpan, Johnson A. Atan

Journal of Economics, Management and Trade, Page 144-156
DOI: 10.9734/BJEMT/2015/18489

One of the most contentious debate surrounding globalization relates to its net impact on the economic performance of national economies. This concern is much stronger for developing countries characterized by various degrees of distortions and weak institutions. There is a cloudy picture on whether or not globalization has brought more benefits than risks to African countries. This paper examines the evidence for the Nigerian economy. Rather than just looking at its impact on the country’s growth, we followed a sector specific analysis with focus on agriculture, manufacturing and international trade. Using the error correction framework and utilizing annual time series data for the period 1970-2011, the results indicate that globalization has some positive impact on the selected sectors, although the magnitude and significance of these impacts varied from one sector to another. Overall, the evidence shows that globalization offers Nigeria greater opportunities to improve on its economic performance in the selected sectors. Policy options and critical issues that must however be considered for the country to fully maximize its benefits from the forces of globalization are highlighted in the paper.

Open Access Method Articles

DBOLR Test for Testing Autoregressive Conditional Heteroscedasticity and Comparative Study with Two Sided Likelihood Ratio (LR) and Lagrange Multiplier (LM) Tests - A Simulation Approach

Nahida Afroz, Hossain Md. Alhelal

Journal of Economics, Management and Trade, Page 157-165
DOI: 10.9734/BJEMT/2015/17035

 

Many econometric testing problems are potentially either one-sided or partially one-sided because econometric models often come with prior information about the sign of some or all of their unknown parameters. In most cases, time series data suffer from both heteroscedasticity and autocorrelation, which is referred to as autoregressive conditional heteroscedasticity (ARCH) effects. This ARCH usually occurs in financial time series data. Usual two-sided LM and LR type tests are not suitable for testing restricted ARCH effect. In this paper we propose one-sided LR tests for testing ARCH effect in the disturbances of a regression model and compare this with the usual two-sided LR and LM tests. Monte Carlo study indicates that the proposed one-sided LR test performs better than the existing two-sided LR, LM tests.