Jornal of Management, Economics and Industrial Organization

1-17

Authors: Irfan Djedovic, Ugur Ergun

This paper analyzes the volatility spillover between Dow Jones UK conventional index (GBDOW) and Dow Jones UK Islamic index. Monthly observations spanning in a period from January 2010 until June 2017 are obtained from Investing.com database. Vector Auto-regression analysis (VAR) and Impulse response functions are used in order to estimate the impact. The results show that there is a significant impact of Dow Jones UK index volatility on Dow Jones UK Islamic index volatility.

41-61

Authors: Gylych Jelilov, Kemal Ozden, Sotonye Orinaemi Briggs

This paper examines the relevant issue of insecurity in Nigeria and its implication for socio-economic development, with the available data on the level and magnitude of insecurity in Nigeria exposes an increase over time, which constitutes serious threat to lives and properties, obstructs commercial activities and discourages local and foreign investors, all which suppresses Nigeria’s socio-economic growth. This rising wave of insecurity has not subsided but has assumed an unsafe facet which is threatening the communal existence of the country as one geographical entity. In the light of the above, the paper recommends that government must be pre-emptive in dealing with security issues and threats, in view of managing security challenges. The real solution lies in government accelerating the pace of economic growth by creating an economy with a relevant social, economic and physical infrastructure to support business and industrial growth. This research paper carries out empirical research on the effect of insecurity and investment on the economy of Nigeria from 2007 to 2017, using three variables as input Nigeria Terrorism Index, Foreign Direct Investment [Inflow], Oil Prices. The study employed the use of correlation and regression techniques to analyse the collected data. Using Nigeria Terrorism Index as a proxy for insecurity and Foreign Direct Investment [Inflow] as a proxy for investment.

76-99

Authors: Mehmet Turker

Social business networking is a socioeconomic activity of like-minded entrepreneurs who share the same goals and social concerns. Participating in the social business networks at international level is an option for small businesses to penetrate and develop competitiveness in export markets. Social business networks are instrumental in overcoming the export barriers especially for inexperienced entrepreneurs since participating networks provide them with opportunities and enhance the performance of their enterprises through penetrating and developing competitiveness in overseas markets. Business networking relations of entrepreneurs provides valuable and specialized knowledge and competencies for entrepreneurs to overcome export barriers arising mainly from lack of prior knowledge of external markets and experience. The studies on export performance have addressed these barriers as impediments or limitations on the export performance of companies in general and small and medium-sized enterprises (SMEs) in particular. Most of the empirical studies in export literature mainly focus on internal or controllable factors such as managerial factors, company characteristics and competencies, and export marketing strategic capabilities, since they are significant determinants in overcoming the export barriers.This study attempts to assess the impact of engaging in the networking activities on export performance of SMEs referring these firm-level controllable determinants of export performance. The survey data collected from 248 Turkish SMEs were analyzed with SPSS AMOS 23 employing structural equation modeling (SEM) to test the validity of the hypothesized model. The findings of the study point out the positive correlation between engaging social business networks and the export performance of the enterprises. The findings also provide valuable information about the influence of firm level factors, such as the degree of internationalization, the education level of the manager, export marketing competency, size and export experience, on the relationship between engaging in the networking activities and export performance.

1-19

Authors: Theara Chhorn, Chukiat Chaiboonsri

The paper aims at estimating and forecasting international tourist arrivals to Cambodia during the time interval of 2000m1 to 2017m7, covering 209 of monthly observations. To find out factors affecting tourist arrivals, simple OLS and 2SLS with instrument variable regression are applied, on the one hand. On the other hand, several time series models of ARIMA (p, d, q), GARCH (s, r) and the hybrid of ARIMA(p, d, q)-GARCH(s, r) are employed to forecast tourist arrivals in line with AIC and BIC in selecting the best modified models. The empirical results primarily reveal that tourist arrivals are affected by exogenous factor, say exchange rate, dummy factors such as the AEC, global finical crisis, national election and Cambodia’s e-Visa. With regard to forecasting stage, the result indicates that tourist arrivals are shocked by time trend in the past period, say time (t-1). The trend is furthermore reduced due to the time lags, say time (t-2, t-3) as shown in the parameter coefficients of AR. GARCH (1, 1) model suggests that the short run persistence of shocks lies in the gap of 0.04 whereas the long run persistence lies in the gap of 0.94. Additionally, AIC and BIC propose that ARIMA(3, 1, 4) and the hybrid of ARIMA(3, 1, 4)-GARCH (1, 1) are the best model to predict the future value of tourist arrivals. The RMSE and U index obtained from measurement predictive accuracy reveal that long run 1-step ahead forecasting of 2013m12 to 2017m7 is produced the smallest predictive error amongst the others. Thus, it has more predictive power to apply long term ex-ante forecasting.

35-50

Authors: El Monineath

This empirical study examines the factors affecting export performance in Cambodia through the period of 1993-2015. This study employed Autoregressive Distributed Lag (ARDL) model to investigate the long and short-run relationship among export and its determinant factors-inflation, real exchange rate, official development assistance, and trade liberalization. The study finds that INF obtains negative relationship with EX in both short and long run meanwhile TL has positive relationship with EX. But, RER has negative impact on the export performance in the short run only; ODA poses the significant positive relationship in the long run, vice versa. Unexpected positive relationship between crisis and export would be explain by insignificant impact of 1997 ASEAN financial crisis and the remaining growth of export during 2008 world economic crisis. The significant and negative coefficient of ECMt−1 indicates the relative speed of adjustment to achieve the long run equilibrium. This study suggests that government should prioritize to maintain inflation rate and real exchange rate, which negatively associate the export performance and export competitiveness of the country, at an optimum level. This study provides concrete evidence for policymakers in conducting the feasible policies to enhance and facilitate the trade liberalization in Cambodia.

62-75

Authors: Osman Nuri Aras, Mustafa Öztürk

The effects of the main macroeconomic determinants on the sovereign credit rating of Turkey assigned by Standard & Poor’s are analyzed in this paper. As the main macroeconomic determinants, inflation rate, economic growth rate, foreign direct investment, external debt, current account debt and savings are taken into account in this study. The data related to Turkey in this study covers between 1992-2016. In this study, the Granger causality test and the OLS regression model are used for that correlations of the variables. Outcomes of the analysis show that just two in six macroeconomic determinants are effective on the sovereign credit rating. According to the results of the study, external debt and inflation rate have a statistically significant relationship with the sovereign credit rating of Turkey. The outcomes show that external debt and the inflation rate have negative effects on the sovereign credit rating of the country. The coefficient of the external debt and the inflation is negative which means that if the inflation or external debt increases the rating decreases in appropriate with the theory. On the other hand, the effects of the other four macroeconomic variables are not significant. The results of the study indicate that some factors other than the primary macroeconomic determinants are effective on the sovereign credit ratings of Turkey. The results also unveil the door for the criticism that the decisions of the credit rating agencies are biased.

1-12

Authors: Chantha Hor, Kakda Keo, Chutima Suttiprapa

This empirical study examines an import demand function for Cambodia by employing time series data during 1993-2015. This study uses Autoregressive Distributed Lag (ARDL) model to investigate the impact of relative prices, foreign direct investment, final consumption expenditure, export volume, exchange rate and foreign exchange reserve on import demand in Cambodia for both long run and short run. The study finds that relative prices and exchange rate are negative effect on import demand in Cambodia for both long and short run, while export volume is positively effect on import demand. While, foreign direct investment, final consumption expenditure, and foreign exchange reserve are insignificant impact on import demand in Cambodia. The finding suggests that the Cambodian government should monitor domestic price.

13-19

Authors: Elkhan Hasanov, Parviz Hasanov, Yadullah Babayev

Economic growth increases production and result of this increased consumption and waste. Considering the amount of waste generated every year the managing of waste is quickly becoming a tremendous problem for the environment. Thus manufacturers and the general public have come to recognize the importance of waste management. The aim of the paper is to revisit an EOQ type reverse logistics model Ritcher (1996a,b) and highlights the potential benefits of developing recycle methodology in the manufacture and remanufacture. Figures and mathematical models are developed and results investigated with examples. The developed model was compared with the model of Ritcher (1996a,b) to stress the importance of waste management.

60-67

Authors: Azlan Othman, Syuhaida Ismail, Khairulzan Yahya

In recent years, a major challenge in the field of knowledge management (KM) has been the way in which KM is implemented. Individuals and organisations are starting to understand and appreciate knowledge as the key element in the emerging competitive environment. As a preparation for the competitive industrial nation, KM is an important countenance that should be the point of convergence for the industry players. This paper wishes to draw the attention on the important of KM storing practice by focusing on consultant firms in construction industry in Malaysia. Questionnaires were distributed to about 200 respondents working in the industry, with the aim of investigating the KM storage implementation in the Malaysian consultant firms. In this paper, the data is analysed using Statistical Package of Social Sciences (SPSS) version 23.0. The analysed results from questionnaire survey and focus group showed that consultant firm in construction industries were involved in implementing KM storing in their organisation. This paper is beneficial in order to improve the KM storing practice in the organisation.

1-16

Authors: Royel Yonn

In this research paper, we will examine the effects of the economy of Cambodia, a member of the Association of Southeast Asian Nations (ASEAN), on moving the ASEAN Economic Community (AEC) forward. We will support our research by using evidence that reviews the contribution of economic sectors boosting economic growth between 6.8 percent and 7 percent over the past decade (World Bank, 2016). Recently, The Ministry of Economy and Finance of Cambodia (MoEF) used three main economic sectors—services, agriculture, and industries—to forecast the economic growth for the years to come. We have reviewed a few articles related to the economic growth in Cambodia and found that the three sectors play a vital role in forming the backbone of prosperity in Cambodian development. In fact, these economic sectors contributed greatly to the Cambodian economy, and together with the stability of macroeconomic policies they help alleviate poverty in the country. Therefore, our paper will focus strongly on: 1. The services sector that is heavily concentrated on tourism; 2. The agriculture sector that is used to scrutinize the sources of rice productivity; 3. The industries sector used to investigate garment and footwear exports. Based on our observations, there are plenty of economic resources available for Cambodia to use to increase its Gross Domestic Product (GDP) growth rate to double digits. So, Cambodia needs to strategically institute and improve the quality of the tourism business, agriculture goods, and industrial manufacturing to achieve a prosperous and fair economy.

24-44

Authors: Elçin Suleymanov, Cihan Bulut, Farhad Rahmanov

Thus Azerbaijan became one of the countries, which balances economic and political relationships in the region. This characteristic comes from the geopolitical position of Azerbaijan. Located in the region of the Southern Caucasus, Azerbaijan has huge natural resources, which triggered the development of economy. The integration of Azerbaijan economy with the world economy and transition to free market economy were the choice of Azerbaijan. Cooperation between Turkey and Azerbaijan in the energy has a multi-faceted structure. It is now widely recognized that Turkey-Azerbaijan relations have always been strong and described with the phrase "one nation with two states”. Energy has a special place in the relationship between the two countries. Azerbaijan’s economy, energy sectors of Azerbaijan and Turkey has been assessed. Moreover, this paper gives a comparative analysis on economic relationship between Turkey and Azerbaijan. This study finally discusses the main trends and contributions of energy projects on Turkey-Azerbaijan relations. This research evaluates the investments of rich oil and natural gas source owner and the most blooming country of the world- Azerbaijan’s investments in Turkey energy sector and its impacts on both these economies. After giving brief information about economy of Azerbaijan, the research analyzes SOCAR’s investment on petrochemical institution in Turkey Petkim which was purchased under Turkish privatization master plan. Star Refinery which began to be built on Petkim peninsula, electric power-plants and port investments were examined under several titles. Additionally, the research gives entire information about the investments on Trans Anatolia Natural Gas Pipeline (TANAP) which was signed at the end of 2011 and evaluates its impacts on Azerbaijan - Turkey Economic Calibrations.

63-82

Authors: Berlinda Lessing, Derek Thurnell, Serdar Durdyev

Construction delays occur frequently on large projects, resulting in not only the client getting their completed project later, but it can also have a major impact on the cost, duration and quality of the project. Delays can have a debilitating effect on all parties involved, as it’s often the cause of adversarial relationships, a feeling of apprehension and distrust between parties. The purpose of this research was to establish the main factors causing delays on large construction projects in Auckland and compare results with the situation in other countries. Construction managers and site managers with a minimum of 10 years’ experience working in large construction projects were surveyed, with both questionnaires and face-to-face interviews as methods, to collect quantitative as well as qualitative data. A significant factor that occurs often was “unforeseen ground conditions”, and was due to the fact that geological tests do not always predict the condition of the whole site. The participants in general agreed that the design group contributes most to construction delays through “lack of producing design documents on time, late instructions, and unclear and inadequate details on drawings.” These findings however are not generalizable, due to the small sample size, so further empirical research is suggested, on a larger scale, and surveying not just construction managers, but also other project team members, including the client.

1-9

Authors: Hala Taleb, Syuhaida Ismail, Mohammad Hussaini Wahab, Wan Nurul Mardiah, Wan Mohd Rani, Rohayah Che Amat

Communication is the heart of implemented projects of the construction industry, where project managers consume 90% of their time communicating with project participants. However, some barriers occur during this significant process of transferring project information. Therefore, this review paper highlights these constraints and guide project managers to take proper action to avoid them. Furthermore, as project communication needs to be carefully managed, this paper introduces communication management due to its high value, all long with the communication management plan as one of the main elements of the overall project management plan that aims to meet the stakeholders' requirements by delivering successful projects eventually.

24-36

Authors: Khidir Sanusia, Izwan Rashid, Syuhaida Ismail, Nor Mawati Mohd Shariff

Organization X is a project based company which specialised in the installation of scrubber and other air pollution control equipment in Malaysia. In the year 2013, 39 cases of incidents have been recorded during scrubber installation at construction sites. This situation has not only affected the economic burden of the company but has also affected the work efficiency, company’s performance and reputation. At risk behaviours of workers were identified as the main contributor to this problem. The behaviour based safety approach have been used by implementing the Safety Behaviour Checklist (SBC) to minimise this delinquent. The study was done to investigate the at-risk behaviours that workers may pose and performed during installation of scrubber. Further investigation on the impacts of implementing the customised SBC was also done. After three months of observations, the study found that the implementation of the SBC contributes to the improvement of workers safe behaviour.

51-64

Authors: Mazharuddin Syed Ahmed, John Everett and Wendy Fox Turnbull

Technology acceptance models are used in studies aimed at predicting and explaining the user’s behaviors towards the acceptance and usage of new technologies. This paper reports the findings from a doctoral research which focused on analyzing the acceptance of smartphones as learning tools between the two contexts of the study: the College of Engineering (CX1) and the College of Education (CX2) at the University of Canterbury, New Zealand. This study was guided by the Unified Theory of Acceptance and Use of Technology (UTAUT2) model. The survey questionnaire targeted 310 respondents selected through opportunity sampling after distributing 1170 survey questionnaires. This reseach attempts to validate eh survey instrument using data analysis using Exploratory Factor Analysis (EFA). This technique can better articulate intercorrelated variables together with more accuracy and adopts stringent model fit assessment and validation. This study adopted a five step factor extraction method using EFA in finding the best set of variables that explain the adoption of the smartphone as a learning tool.