Eurasian Journal of Business and Economics

1-32

Authors: George BERULAVA & David LEZHAVA

The goal of the paper is to explore main determinants of the mode of transaction governance between manufacturers and distributors. We examine a number of types of transaction governance, viz., markets, relational transacting, and hierarchies. The model proposed in the paper integrates the concept of trust with key dimensions of transaction cost economics, being estimated with data from a sample of Georgian manufacturing industries. The main finding of the study is that trust along with traditional dimensions of transaction cost economics has a significant impact on the choice of exchange governance mode.

71-83

Authors: Nizamettin BAYYURT & Gokhan DUZU

The aim of this paper is to compare the relative efficiencies of manufacturing companies of China, one of the BRIC countries (BRIC: Brazil, Russia, India, China) that are expected to dominate the world economy in 2050s, and Turkey, that is an attractive emerging market (Morgan Stanley Index 2006) with great potential. We will determine the relative performances of Turkish and Chinese manufacturing firms using weight restricted Data Envelopment Analysis (DEA). Weights of inputs and outputs are estimated by canonical correlation analysis. Mean efficiencies of the firms of the two countries are compared by t-test. The results of DEA and statistical analyses indicate that Chinese manufacturing firms are highly efficient than Turkish manufacturing firms on average.

103-129

Authors: Ken ROBERTS, Gary POLLOCK, Heghine MANASYAN & Jochen THOLEN

This paper uses evidence from a series of studies of young people in a total of 12 excommunist countries, but mainly from surveys in Armenia, Azerbaijan and Georgia in 2007, and discusses changes and continuities since the early-1990s in typical labour market experiences. It is argued that the continuities outweigh the changes. In the early years of transition new career groups were created during the undermining of old types of employment and the emergence of new market-led employment opportunities. There have always been differences between countries, and between regions within countries, in the proportions of young people following different career routes. Similarly, there have been changes over time in some places in the proportions following the different career paths. Yet the evidence indicates that the career paths themselves have remained remarkably constant over time, and across different territories. The main career groups are: i. A small group who obtain jobs paying salaries that will support a western-type lifestyle. ii. Continuous regular private or public sector employment. iii. Business. iv. Under-employment. v.Unemployment. The paper discusses the processes that have created and which are maintaining the divisions between these groups

3-23

Authors: William David BRICE & Wayne D. JONES

This study empirically examines what makes Ukrainian family-firm culture unique by comparing the values and beliefs of Ukrainian family-business members with that of professional bank managers within Ukraine. Morck and Yeung (2003)suggest that the implications of family business are especially relevant for former planned economies such as Ukraine in that government’s social policy on the encouragement or discouragement of privately-held sectors of the economy is yet to be fully formed. Ukraine’s future course in this regard is particularly sensitive as the pre-Soviet Ukrainian economy was almost entirely held in private hands while the Soviet-era economy was almost entirely state-controlled. Family-firm literature stresses the differences between family-firm and professional management in terms of culture, goal-setting, and strategy. Family-firm culture is said to be a resource leading to competitive advantage. This study is based on a survey comparing 76 family-firm members and 99 professional managers. Statistically significant differences between the culture of members of family-owned firms and professional managers were found within Ukraine. Family-firm membership had a significant effect in five culture constructs. We can conclude that differences in Power Distance, Social Cynicism, Social Flexibility, Spirituality and Fate Control describe fundamental aspects of family-firms in Ukraine and may possibly contribute to family-firm competitive advantage as discussed in management literature.

37-60

Authors: Feza Tabassum AZMI

Human Resource (HR) managers traditionally have not occupied a very significant position and Human Resource Management (HRM) activities have often appeared to be disjointed and haphazard, giving little consideration to the organization’s strategy. However, recent developments have provided HR managers with the opportunity to move from their typecast role of picnic organizers to becoming strategic partners. This paper delves into the terrain of changing roles of HR executives by undertaking an analysis of the extant literature. It presents a review of various typologies of HR roles. It then highlights the emerging evidences vis-à-vis the changing HR roles. The paper further discusses the key strategic domains where HR executives are making their presence felt. The paper drives home the point that the mixed bag of empirical evidence on HR roles suggests that while the value of HR executives has indeed been elevated in recent years yet in several organizations they are still grappling with the challenge of proving their mettle. On the basis of the above discussion, various research propositions are presented for future research.

83-97

Authors: Elvira KURMANALIEVA

Being naturally located between two big markets in Europe and Asia, Kyrgyzstan together with other Central Asian countries does not have a direct access to sea ports. Landlockedness limits volumes of international trade and creates obstacles for economic growth. Results of statistical analysis show that Kyrgyz trade neither follows Heckscher-Ohlin model nor intra-industry trade model. Another finding is that open and liberal trade policy of Kyrgyzstan has a large positive effect on trade volumes, suggesting that bilateral trade will expand markedly if country continues liberalization of its trade policy with other countries. Quality of infrastructure and transportation costs play a crucial role for landlocked countries and a free trade agreement with other countries looks like a good opportunity to overcome natural barriers and diversify their trade.