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Volumen 5, Ausgabe 4 (2016)

Forschungsartikel

Impact of International Oil Prices on the Stock Exchange of Malaysia and Turkey

Rabia Najaf

In this paper, we are trying to dig out impact of international oil prices on the stock exchange of Malaysia and Turkey. For this purpose, we have taken the time series data of 15 years and apply the correlation analysis to find out the relationship between them were international oil prices are dependent variables and Malaysia and Turkey stock exchange are dependent variables. We have observed that there is negative relationship between them. Our study is trying to show that Last decade witnessed that there were high volatile; it was recorded US$148 per barrel. Due to these prices the supply and demand were affected due to fluctuate in these prices. There are some notable significant events like invasion of iqra verses US.

Forschungsartikel

The Impact of Unprofitable Customer Abandonment on Current Customers’ Exit, Voice, and Loyalty Intentions: An Empirical Analysis

Mudassir Husnain

To manage relationships of unprofitable customer and mainly divesting is the area has receiving growing attention between researchers and practitioners over the past few years. The aim of paper is to explore the influence of abandonment of unprofitable customer on existing customers of abandoning firm, specially their exit voice and loyalty intentions. For the first time this study examines that how current customer that a company want to keep along reacts towards termination of unprofitable customer’s relationship. As a result, insights have been provided with regard to cost associated with the abandonment of unprofitable customer relationship a problem that has not been the focus of any empirical study nowadays. This is mainly an empirical study and a scale was settled to know the influence of constructs comprising; relational and structural constraints on exit, voice and loyalty intentions. The survey was circulated among the participants based on convenience sampling. Data were analyzed using correlation and regression analysis to assess the impact of abandonment of unprofitable customer on existing ones of abandoning firm. Study show that existing customers are more inclined and actively respond to abandonment of unprofitable customer in terms of exit/voice than passively through loyalty silence. Moreover, this indicates that current customers are less likely to limit the potential negative consequences, abandon unprofitable customer switching costs increase or satisfied.

Forschungsartikel

Effects of Debt on Value of a Firm

Waheed Akhtar M, Fawad Ali Khan, Adnan Shahid and Jehangir Ahmad

Capital structure has been studied extensively with the main focus on whether debt affects firm’s value or the proportion of debt usage is irrelevant to the individual firm’s value. This paper investigates the relationship between leverage and firm’s value, in Pakistani context, to show that what happens to value of a firm in face of changing financial leverage. Secondary data was obtained for this purpose from KSE and financial statements of hundred companies for six years. Regression analysis was carried out for the said relation. It was found that increase in leverage is positively related to the value of a firm.

Forschungsartikel

Statistical Analysis of the Core Determinants Influencing the Consumers Brand Preference in Generalization of Bath Soaps

Jakkireddy Suresh Reddy, Ramana KA and Mehul Bhandari

The necessity of this study is to identify and analyze the determinants affecting consumer’s preference of bath soaps. Among the factors education, age, income, price, advertisement, celebrity, quality, the factors education, income and product qualities are affecting consumer’s brand preference of bath soaps. With one way ANOVA it had been found that the income factor is influencing the consumer’s brand preference in which the calculated F-Value (2.66522)>F-Critical value (2.24640). With Two way ANOVA without replication it has been found that education factor influence the brand preference, where the calculated value for education, F-Value (3.7956)>F-Critical value ( 3.0069). The calculated F-Value for age factor, F-Value (1.4301)

Forschungsartikel

The Impact of Consumer Confidence and Store Attributes on Store Satisfaction and Store Loyalty

Ayesha Tariq, Afza Afzal and Mehwish Fiaz

For retail managers it is being to understand the relationships between customers’ store attribute, store satisfaction, consumer confidence, and store loyalty as well as how these relationships change over time. In this study relationships have been investigated by using survey technique. A questionnaire developed to check consumer’s point of view about different stores in Faisalabad market. Result of our findings indicate that consumer confidence and store satisfaction have no relationship whereas store satisfaction did not play a role of mediator in between consumer confidence and store loyalty. Instead, our study shows that the relationship between services attributes and store satisfaction is stronger and positive in periods with low consumer confidence.

Forschungsartikel

The Failure of Neoliberalism: Unfounded Assumptions And the “Colombo’s Egg”.

Pezzani F

We live in a time of socio-cultural inequality, unemployment, poverty, moral degradation, conflict, lack of imagination and creativity. Is all this the consequence of an incorrect adjustment of the markets (economic crisis) or the end of a socio-cultural model incapable of responding to the problems of man as a person not as an object (anthropological crisis)? This article attempts to respond to this question by discussing the role of economics as a science and a self-referential cultural model based on finance.

Fallbericht

The FIBRAs as a Tool for Investment Diversification in Mexican Hotel Sector the Case of FIBRA Inn

José G Vargas-Hernández and Lic Hugo Daniel González Altamirano

This paper seeks to make an approach to the financial instrument called REIT, Real Estate Investment Trust, specifically in the hotel industry in Mexico. This tool has allowed many investors to make business in the real estate sector, and it has provided a wider range of hosting services. This research takes us into the strategies the REIT leader in the hotel industry has implemented to position themselves as such. In large part this is explained by network theory and agent – principal theory. The study method is based on a literature review of several theories, as well as the study of a successful case. The analysis of results presents and describes the features that have contributed to business success.

Forschungsartikel

The Success of CRM

Mohammed Abdelmotaal Abdelhadi

Thinking about international business, means thinking about the different factors including social factors for each country, technological factor, economical factors, environmental factors and political factors as well. The following article deals with the CRM strategy. It handles the STEEP analysis approach and linkage to COCACOLA Company. It is a try to analyze the effectiveness of CRM strategy to generate the competitive advantage by using a comparison between the company and its competitors. It also gives the recommendation for such situation and how to implement it and the results in this case. The recommendation includes further leverages for the specific CRM approach chosen in the same case.

Forschungsartikel

Adoption and use of IFRS: Evidence from Brazil

Marta Cristina Pelucio-Grecco, Cecília Moraes Santostaso Geron and Gerson Begas Grecco

We did a survey based on DOI - Diffusion of Innovation Theory, made with preparers and users concerning IFRS in Brazil. Both recognize the improvement in the quality of the accounting information after the Brazilian convergence to IFRS. The Full IFRS adoption contributes to improving the company image, representing relative advantage of accounting and of the preparers, when they are most valued in the market. The analysts trust more in the audited and published statements, though great part of the preparers in general only do it when obligatory. The preparers that work in SME recognize more the IFRS benefits than the ones that work in larger companies. The IFRS financial statements are also utilized for making internal decisions, especially by micro enterprises and by small sized companies. The analysts highlight that they still have difficulties in understanding the financial statements in the light of IFRS.

Forschungsartikel

City Marketing and City of Tangiers: Case of National Film Festival in Tangiers – Morocco

Ikrame Selkani

Today, we are small towns or big cities, we have all the same concern: to become known and be famous. Having a territorial brand, logo or slogan, is the wish of all cities, and in order to stay connected with their environment that continues to take more and more importance. In most cases, the initiative for cultural activities: festival, etc. are taken by local authorities or the region as a whole. “Culture has become an instrument of a strategy increasingly explicit national and international reputation”. The cultural aspect of each territory: city, region, plays an important role in achieving economic goals, as well as the attractiveness of the latter at national and international level in terms of: tourism, city image. In this article, we will mainly address the following question: what impact plays the national film festival in improving the image of the city of Tangiers?

Forschungsartikel

An Empirical Study on the Dynamic Relationship between Crude Oil Prices and Pakistan Stock Market

Rabia Najaf and Khakan Najaf

The purpose of this paper to analysis the impact of crude oil on the stock exchange of Pakistan. For this purpose, we have taken the data feom15 years and applied the Karl Pearson’s Coefficient of Correlation and taken the results that decrease the value of crude oil have negative impact on the stock exchange of Pakistan. This paper is trying to show that in all over the world oil is known as the more crucial source of energy. Oil prices are known as the biggest need of every country due to this reason prices brings effect on the performance of the country. Now the days the prices of oil as important as the gold prices. The world largest commodity market is known as the crude market. Our paper is also showing that increase in the prices of crude oil is the reason of inflation.

Forschungsartikel

Impact of Oil and Gold Prices on the Stock Exchange of Bombay: An Evidence from India

Rabia Najaf and Khakan Najaf

In this paper, we have analyzed that investors have not in rational behavior. In the imperfect markets, prices are always change in trends and these changes are known as the non random we have taken the data from 2003 to 2011. We have applied the different techniques and our results are showing that there is no long run relationship between these two dependent variables and stock exchange of India. Bombay stock exchange is known as the oldest stock exchange of India. It is also known as the fastest stock exchange of the world. It was established in 1876. The rating of bombing stock exchange is the at the 11th no. with the market capitalization is the 1.8$ trillion. It has listed near about 5600 companies. Bombay stock exchange is also known as the oldest stock exchange of Asia. Most of the investors, would like to invest in this stock market due to large captilization. According to securities act of India, Bombay stock exchange first recognized stock exchange of the India. In 2000, it was known as the derivatives market.

Forschungsartikel

Marketing Problems Encountered by First Generation Entrepreneurs - A Study with Reference to Madurai in Tamilnadu

Selvaraj N

Many entrepreneurs manage the take-off stage and fall sick later on. It is also not uncommon that many small scale industrial units after a successful running for so many years may also fall sick due to a sudden competition, non-availability of incentives and concessions and lack of financial and marketing support. Many industrial units, which are apparently healthy, may be within the area of sickness if they are subjected to critical evaluation by supplying certain yardsticks, which tend to measure the financial soundness. The main objective of the study is based on the marketing and location problems encountered by the first generation entrepreneurs. The primary data have been collected from the respondents directly for the period of study is impounded to one year. An attempt has been made to identify the factors which influenced the first generation entrepreneurs to identify their skills. The Subsidies, tax concession, relaxation of norms, may be introduced to new/first generation entrepreneurs. With this solution the problem of first generation entrepreneurs will not come to an end. It is a vibrant and hence an eternal follow-up actions according to the prevailing environment is also to be taken or otherwise the present prevailing condition of the small scale industries, operated by the first generation entrepreneurs will be an incessant one, not only in Madurai city but also everywhere in India.

Fallbericht

Internationalization Strategies for Global Companies: A Case Study of Arla Foods, Denmark

Robert Azuayi

Entry mode is a highly meaningful choice for all companies that are thinking of expanding their company to emerging least developed and even developed markets. Most of the literature works that has been done concerning internationalization and entry mode focus more on the service companies. This study, however, seeks to find out some of the entry strategies that can be used by food companies. There are numerous reasons why companies consider going into international. There are those who find it appropriate when the domestic industry is too competitive; there are those who take this direction with the aim of expanding their business and many other reasons. The study aims at giving a critical analysis of market entry strategies that can be used by Arla Foods to enter into international market. The study explores multiple entry modes as well as various entry theories from the previous work. The analysis is done to find out whether the international market, particularly, the least developed countries in Asia are viable for Arla Food Company, Denmark. From the secondary data, the market has a fair share of weaknesses, but it is very viable from the opportunities it has. The entry mode that is found to be the best for Arla to enter into the market is export. Export is considered effective because it has very low risk and does not require substantial funds.

Forschungsartikel

The Impact of Electronic Word-of-Mouth on Online Impulse Buying Behavior: The Moderating role of Big 5 Personality Traits

Mudassir Husnain, Imran Qureshi,Tasneem Fatima and Waheed Akhtar

Purpose of the paper: The purpose of this study is to investigate the moderating role of Big 5 personality traits in the relationship between electronic word-of- mouth and impulse buying behavior. Design/methodology/approach: Data was gathered through self-administered questionnaire from a sample of 266 Chinese and Pakistani students who were online users and studying at various institutes located in the capital city Islamabad, Pakistan. Findings: As hypothesized, impulsive buying behavior is significantly associated with electronic word-ofmouth and moderating effect of Big 5 personality traits was also substantiated. The data was analysed statistically using IBM SPSS Statistics 22 to find out correlation and regression analysis between study variables, reliability of research instrument, strength of relationship between independent and dependent variables, moderating effect of Big 5 personality traits in the relationship between electronic word-of- mouth and impulse buying behavior was also substantiated. Research limitations/implications: Future researches may replicate our model with a larger sample size in order to enhance generalizability. It will be also fruitful to extend this research to various other online shopping environments. Practical implications: Implication suggests that online retailers and designers of shopping websites should understand the importance of online social interactions in order to encourage consumers’ online buying patterns. They should integrate elements of online social interaction, together with reviews that customer placed online on websites, buying pattern, history and sales volume on their websites for the transformation of eWOM. What is original/value of paper: The social network paradigm and UGT are confirmed and validated by current study in online word-of-mouth context. This study stands as a pioneer that empirically scrutinize the moderating effect of these traits and reveals that online social interactions can strongly enhances consumers’ purchase on impulse when individuals display the traits of i.e. extroversion, openness

Perspektivischer Artikel

A New Marketing Paradigm for Creating Global Efficiency and Competitive Advantage of Countries

Nurbek Achilov

There are many approaches of understanding of marketing in various countries. On the other hand, a company, which has a global presence, acts similarly in different countries and create different effects for local economies. The paper overviews how marketing plays its role in providing global inefficiency in period of global trends for efficiency. In addition, it aims to uncover key issues of marketing, which create a negative perception of marketing and lead to periodic economic crises in economies. Understanding that many markets of the global environment are not mature for changes, there is a strong necessity to evaluate various issues of marketing and advise some ideas on a new marketing paradigm for accelerating the change for global efficiency in various environments.

Forschungsartikel

Internet Banking, Customer Perceived Value and Loyalty: The Role of Switching Costs

Samar Rahi and Mazuri Abd Ghani

Purpose: This study aims to examine the relationship between internet banking, customer perceived value, switching cost and customer loyalty. Furthermore, this study also examines if switching cost moderates the relationship between internet banking, Customer perceived value and customer loyalty.

Design/methodology/approach: Data collected in a survey that yielded 437 respondents. Questionnaire was adapted from research work of Eriksson, Kerem, and Nilsson; Gefe; Levesque and McDougall; Zeithaml, Berry, and Parasuraman. Quantitative Approach was used for the analysis. Pearson correlation, multiple and moderating regression were used to examine the hypothesized relationship.

Findings: The findings confirm that internet banking and customer Perceived value brought significant change on customer loyalty. Moreover, results prevailed that there was significant qasi moderation between variables. Switching costs moderate the relationship between internet banking, customer perceived value, and customer loyalty.

Research limitations/implication: Further research is indicated, to identify effects of these variables on other services provider companies. Banking sector in Pakistan should pay more attention on Internet banking services, Customer Perceived Value and switching cost in order to enhance the customer loyalty.

Originality/value: This study is the first study that tests the western model on south Asian countries like Pakistan. Hence, there is no research work found that reflects on internet banking and customer perceived value with moderating effect of switching cost. This study contributes to the field of e-commerce marketing and will help managers to adopt appropriate strategies that will lead banking sector towards prosperity.

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