In this paper, we build up the literature by introducing host-country degree of rurality as a factor influencing Multinational Enterprises’ (MNEs) location choice measured by foreign direct investment (FDI) inflows. Based on 1999-2007 panel data of 172 countries, we show that host-country degree of rurality has a negative relationship with the location choice of multinationals. The effect is more profound in low-income host countries than in high-income host countries. We also confirm that the control variables, such as host-country market size, trade openness, labor costs, and labor skills are positively related to FDI inflows while interest rates and expected currency depreciation are negatively related. Moreover, results of pair-wise Granger causality tests show FDI has a feedback relationship with per capital GDP and exchange rate movements. Impulse response test results render key insights into FDI linkages and associated policy implications.
The purpose of this study was to identify the key factors of tourism attraction in Taiwan and analyze tourism preference particularly by China’s outbound tourists and then address behavioral differences among visitors segments and separate the tourist visitations data to look at the preferences of visitors. The findings indicated that China’s outbound tourists’ preference to visit were “Natural Landscape,” “Art and Shows” and “Snacks and Specialties”. It was also found that China’s outbound tourists’ preference in sightseeing were “Natural Scenery” followed by “Geographical Landscape”. Finally, researchers proofed tourism attraction could be used as predictor of tourist satisfaction and willingness to revisit.
Aims: The purpose of this paper is to examine potential antecedents and consequences of work engagement in a sample of male and female managers and professionals employed in various Universities in Nigeria. Study design: The study adopted the ipso facto research design Place and Duration: Five Nigerian Universities (University of Lagos, Obafemi Awolowo University, Ile-Ife, Ladoke Akintola University, Ogbomoso, Enugu State University, Enugu and University of Abuja) between January and April 2010. Methodology: Data were collected from 242 respondents, (60.5 percent response rate) using anonymously completed questionnaires. Engagement was assessed by three scales developed by Schaufeli et al. (2003); vigour, dedication, and absorption. Antecedents included personal demographic and work situation characteristics as well as measures of need for achievement and workaholic behaviours; consequences included measures of work satisfaction and psychological well-being. Results: The following results were observed. First, both need for achievement and workaholic job behaviour was found to predict all three engagement measures. Second, engagement, particularly dedication, predicts various work outcomes (e.g., job satisfaction, intent to quit). Third, engagement, again, particularly dedication, predicted various psychological well-being outcomes but less strongly than these predicted work outcomes. Conclusion: Our findings suggest that engagement at work is associated with positive work and individual well-being outcomes and that stable individual difference factors are a major contributor to levels of employee engagement. The respondents in our sample expressed relatively high intentions to quit their current jobs. It is not clear, however, what alternatives they are contemplating, particularly in light of the current world-wide economic downturn and high level of unemployment in the country. Such indication however may only be a pointer to the fact that they are not too satisfied with their job and are only keeping it for lack of another one in the meantime. This raises the issue of whether the relatively young men and women in our sample will have to continue in jobs that they would prefer to change; a reality that likely erodes work engagement. Nigerian Universities therefore may be facing significant challenges as they make efforts to improve levels of employee work engagement. Organizations can increase levels of work engagement by creating supportive work experiences (e.g. control, rewards, and recognition) consistent with effective human resource management (HRM) practices.
A plethora of studies in recent years have focused attention on the determinants and roles of capital flight in the development process. This paper contributed to this body of knowledge by filling a noticeable gap. Principally, the paper examined the extent and magnitude of contributions of external debt and corruption to capital flights plus other factors that have been examined in the literatures. The paper employed standard methodological approach, Vector Autoregressive Model, to determine the sources of shock to capital flight in Nigeria. The study found that the greatest shock to capital flight came from external debt and corruption. Nevertheless the debt relief of 2005 minimized the capital flight in Nigeria. The findings of the study demonstrated that, capital flight limits growth potential, crowds-out investment, and worsens capital formation. The study suggested the need for the policy makers to encourage growth, and reverse the negative distributional effects of capital flight. Specific policies might include repatriation of flight capital to boost the growth initiatives with selective controls on capital outflows, changes in Nigeria tax laws, and a bias toward poor wages. More generally, a new overall strategy that would encourage Nigerians abroad to come back home and invest in the country was recommended.
The liability stream of insurance companies often stretches several years into the future. Therefore, there is always the need to determine a portfolio of bonds or other assets whose cash-flows replicate those of the liability stream. Insurance regulatory authorities require that insurance companies must demonstrate solvency. To achieve this, an insurance company needs to determine a fair market value of its liability by finding a replicating portfolio consisting of default-free bonds. This paper presents a class of optimization models that could be employed for portfolio optimization in the presence of background risk.