Eurasian Journal of Business and Economics

17-39

Authors: Manuela Rozalia GABOR

Owning a “renown” car brand, a “latest hour” model, with a futuristic design, etc. is the ultimate dream of any driver. Thus, the car producers always take into account the real or the ideal needs of consumers, including on the emergent market. The research of car brand perception among consumers is possible with quantitative and qualitative methods statistics, respectively. The combine use of these leads to the qualitative improvement of the research, in the sense that it fathoms the aspects belonging to endogenous and exogenous variables, direct noticeable, of the consumers. This research regarding the perception of the car brands most often encountered on Romanian highways, among young Romanian consumers is based on a combined use of a repertory grid and the Principal Component Analysis method for the data elaborating and construing phase. The results show: the perceptions of consumers are grouped in: the ideal image of the future, youth – sportivity, reliability; a strong perception of the symbolic significance, subjective related to car brands; good perceptions according to the history of the car brands; good perceptions according to aspects connected to reliability and maintenance of the car brands; good perceptions according to the design of the body car and aspects connected to it.

61-79

Authors: Naman SETHI

Exchange traded funds (ETFs) are known to be a highly attractive mean of investment in today’s financial markets. The present study is an attempt to explain the risk and return features of Indian ETFs and their trading and expense characteristics. The performance of ETFs is measured and compared with their underlying indices. It is found that they underperformed the indices, the reasons being they load their investors with extra risk than their underlying indices. Further, it is found that tracking error is having a positive relationship with expenses and risk of ETFs. Interestingly, the average number of trades and the lagged return of previous day do not affect the volume of shares. The study uses daily closing prices, intraday high and low prices and the volume of the traded shares of 10 ETFs listed on the National Stock Exchang for the period 1st July, 2010 to 30th June, 2015. The non-included ETFs suffer from the restrictions of non-availability of historical prices for at least five years

99-112

Authors: Gisele MAH , Itumeleng P. MONGALE , Janine MUKUDDEM-PETERSEN*

The purpose of this paper is to estimate comparative debt reduction models for the USA and Greece using Vector Error Correction Model analysis and Granger causality test. The study provides an empirical framework that could assist in policy formulation for countries with high debt rates as well as those experiencing debt crises. The US model revealed a negative and significant relationship between general government debt and inflation as well as negative significance with primary balance. In Greece, the relationship between general government debts with primary balance is found to be positive and significant while negative and significant with net transfer from abroad. Granger causality is from general government debts to inflation in the USA and from primary balance to general government debts in Greece.

135-152

Authors: Neena MALHOTRA , Deepika KUMARI

East Asian Economies are considered to be most successful economies in the world. Following the footsteps of other East Asian economies such as Japan and South Korea, China also shifted towards export-led growth strategy in 80s. This study analyzes the effect of export performance on economic growth of three major East Asian economies i.e. Japan, South Korea, and China. This study has conducted the econometric analysis of macro data under multivariate framework for the period 1980-2012. In order to examine the causal relationship between exports and economic growth, the study has applied time series techniques such as Augmented Dickey-Fuller (ADF) and PhillipsPerron (PP) unit root tests to check stationarity of variables, Johansen cointegration test for long run relationship, vector error correction model (VECM) for short run dynamics and for estimating speed of adjustment towards long run equilibrium. The analysis also made use of techniques Impulse Response Function (IRF) and Variance Decomposition Analysis (VDA) to investigate the interrelationships within the system. The estimated results suggested that all variables were cointegrated for East Asian economies. The study concluded that export-led growth (ELG) was only long run phenomenon in China and South Korea. The results for Japan supported growth led exports (GLE) particularly for short run.

23-35

Authors: M. Sait DINC, Semira BUDIC

In the last decade, female entrepreneurship has been identified as one of the most important unutilised sources of economic growth. Entrepreneurial intention of women has become a key element in establishing a new business. The factors influencing entrepreneurial intention of women, particularly in developing countries, have attracted curiosity lot of attention. The purpose of the study is to examine the relationship between demographic variables, personal attitude, subjective norm, perceived behavioural control, and entrepreneurial intentions of women in Federation of Bosnia and Herzegovina. A total of 216 questionnaires were collected from women in two big cities in Bosnia: Tuzla and Sarajevo. Relationships between the variables were evaluated using factor analysis, reliability, correlations, descriptive statistics, and regression. The findings show a positive and significant influence of personal attitude and perceived behavioural control on entrepreneurial intention.

51-65

Authors: Sumninder Kaur BAWA, Samiya CHATTHA

The present study aims to canvass the performance of intermediary channels in Indian Life Insurance Industry viz. individual agents, corporate agents, bancassurance, brokers and direct selling. The conduct of performance has been deliberated in context of business premium collected and number of policies issued by various channels through Two-Way ANOVA. The data has been figured out over the period of seven years, i.e. from 2006- 07 to 2012-13. The findings demonstrate that in the context of premium as well as policy, there is difference in mean scores for various categories of channels, but no difference has been found with respect to time period. Besides the study also measures the augmentation in their performance, through compound annual growth rate (CAGR) by using the log linear regression model which reveals that individual agent is the foremost performing channel in terms of generating business. But sustaining efficacy of every channel has become one of the confronting issues for insurance domain.

87-108

Authors: Fakhri HASANOV , Ceyhun MIKAYILOV, Sebuhi YUSIFOV , Khatai ALIYEV

The paper investigates effects of fiscal decentralization on non-oil sector development in case of Azerbaijan for the quarterly period of 2002 through 2013. Results obtained from Autoregressive Distributed Lag Bounds Testing approach show that share of local expenditures and revenues in total, measures of fiscal decentralization, have negative impact on non-oil GDP. This finding is consistent with other studies outcomes and can be considered adequate for the Azerbaijani economy due to the number of institutional constraints. The results of the research would provide a good insight for policy makers in implementing economic reforms to develop institutional aspects of decentralization and thus make it supportive for non-oil economic growth

125-151

Authors: Olalekan Usiobaifo ASIKHIA

This article synthesizes the evidence on SMEs’ wealth creation in an emerging economy, paying particular attention to human resource/expertise, technology adoption, innovation and creativity, unit economies, organizational infrastructure and strategy as determinants of SMEs’ wealth creation. A survey of 581 Nigerian SMEs was conducted and the data was analysed and tested using multiple regression and structural equation modelling. The findings revealed Human resource/CEOs expertise as the highest contributory factor to wealth creation within the firm in the industrial and the commercial sectors. The relevant domains were modelled and relevant policy adjustments were suggested.