2014 Asia Conference on Economics & Business Research (ACEB 2014)

Transcription

2014 Asia Conference on Economics &
Business Research
(ACEB 2014)
PROGRAM & ABSTRACT BOOK
November 13 - 14, 2014
SINGAPORE
HOSTED BY
ASIA PACIFIC INTERNATIONAL ACADEMY
WHOLLY OWNED SUBSIDIARY OF
AVENTIS SCHOOL OF MANAGEMENT
www.academy.edu.sg
[email protected]
Copyright ©APIA Publications
2014 Asia Conference on Economics & Business Research – Singapore
Program and Abstract Book
ISBN: 978-981-09-0090-8
Publisher: Asia Pacific International Academy
November 2014
The authors of individual papers are responsible for technical, content, and linguistic
correctness.
2014 ACEB Conference - Singapore
Nov 13-14, 2014
CONTENTS
Contents....................................................................................................................................3
About APIA................................................................................................................................4
ACEB Advisory Board.................................................................................................................5
ACEB Officers.............................................................................................................................6
Conference program..........................................................................................................7 - 14
Abstract Book...................................................................................................................15 - 35
Directory of Participants..................................................................................................36 - 39
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Nov 13-14, 2014
APIA
Asia Pacific International Academy
Aventis School of Management is a Leading Graduate School dedicated to the development of
professionals and business leaders. Aventis is a member of the European Foundation for Management
Development (EFMD), European Council for Business Education (ECBE), Executive MBA Council and
United Nations (UN) Global Compact partnership. Through our close collaboration with professional
bodies including the Chartered Institute of Marketing (CIM UK); American Association for Financial
Management (AAFM), Aventis qualifications are industry driven and recognised by professional bodies
internationally.
Asia Pacific International Academy (APIA), a subsidiary of Aventis School of Management, was found
in 2010 with the purpose of promoting academic research and intellectual development of researchers,
academicians and professionals from various institutions and across different countries in the AsiaPacific region and beyond through academic conferences and executive training.
We strive to organise the best academic conferences in the Asia-Pacific region and beyond. On behalf
of all APIA conference executives, I sincerely thank you for your participation and look forward to
seeing you at our conference.
Have a great day!
Tan Lee Ming
Conference Secretariat
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Nov 13-14, 2014
ACEB ADVISORY BOARD

Prof Dan Levin, Ph.D, Wharton Business School, University of Pennsylvania, Director
(Academic Affairs) Graduate Programs Aventis School of Management

Prof Luis Hall, Ph.D in Finance NYU

Associate Professor Evan Lau, Ph.D International Economics Universiti Putra Malaysia, Faculty
of Economics and Business, Universiti Malaysia Sarawak, Managing Editor of International
Journal of Business and Society (IJBS)

Prof Rajah Rasiah, Ph. D Cambridge University, Faculty of Economics and Administration,
University of Malaya

Dr. Zulnaidi Yaacob, Ph.D Accounting, Universiti Utara Malaysia, Senior Lecturer at Universiti
Sains Malaysia

Prof Ramayah Thurasamy, Faculty of School of Management, Universiti Sains Malaysia

Prof Dr. László Józsa, Széchenyi István University

Dr Simonetti Biagio, University of Sannio, Italy

Roberto Janelli, University of Sannio, Italy

Prof. Dr. Mansor H Ibrahim, PhD in Economics Washington University, USA, Professor of
Finance & Econometrics, Finance and Accounting Department, INCEIF (International Centre
for Education in Islamic Finance)

Dr. AFM Kamrul Hassan, Ph.D in Economics, Curtin University, Australia, Lecturer (Finance)
School of Management and Governance, Murdoch University, Perth, WA, Australia
COPYEDITOR
Tan Lee Ming, Aventis School of Management, Singapore
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Nov 13-14, 2014
ACEB OFFICERS
Samuel Teo
General Manager
Aventis School of Management, Singapore
E-mail: [email protected]
Tan Lee Ming
Conference Manager
Asia Pacific International Academy, Singapore
E-mail: [email protected]
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Nov 13-14, 2014
CONFERENCE PROGRAM
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Nov 13-14, 2014
8
Nov 13-14, 2014
THURSDAY, NOV 13 (DAY 1)
Holiday Inn Singapore Orchard City Centre, Crystal Suite Ballroom
ASEAN Business Outlook Conference
Time
09:00 – 09:45
09:45 – 10:00
10:00 – 10:30
10:30 – 11:00
11:00 – 11:30
11:30 – 12:00
12:00 – 12:30
12:30 – 14:00
14:00 – 14:30
14:30 – 15:00
15:00 – 15:30
15:30 – 16:00
16:00 – 16:30
16:30 – 17:00
Agenda
Registration / Welcome Coffee & Tea
Opening address for ACEB 2014
Opening Keynote: APEC and Asia- Pacific
Growth
Morning Coffee / Tea Break & Network
Session
2nd Keynote: How Southeast Asia
Overcome the Global Financial Crises
Featured Session: Regional Economic
Outlook
for
2015
and
beyond:
Opportunities and Risks
Panel Discussion: Dr Alan Bollard, Phillip
Wee, Song Seng Wun
Moderator: Dr Evan Lau
Lunch
3rd Keynote: Sovereign Risk Management
& Public Economics
4th Keynote: ASEAN recycling market, the
next big thing. Capitalising this
opportunity from trash to cash
Afternoon Coffee / Tea Break & Network
Session
Featured Session: A Clarion Call to rebuild
the business world
Panel Discussion: Dr Luis Hall, Glenn Goh,
Patrick Liew
Moderator: Mr Song Seng Wun
Closing Speech
9
Speaker
Dr. Evan Lau
Dr. Alan Bollard
Philip Wee
Song Seng Wun
Dr. Luis Hall
Glenn Goh
Patrick Liew
Nov 13-14, 2014
FRIDAY, NOV 14 (DAY 2)
Aventis School of Management, Concorde Hotel Level 4
REGISTRATION: 08:30 – 17:00
SESSION I: 09:00 – 10:30
Room: L.ZICKLIN
Chair: Vinod Nakra
Impact of macroeconomic indicators on expectations of equity risk premium in CEE private equity
markets
Roman Cibera, University of Economics, Prague, Czech Republic; Tomas Krabec, University of
Economics, Prague, Czech Republic
Networks Reconstruction and the Government’s Behaviors in the Industrial Clusters Transfer
Lei Yu, Southeast University, China
Grabbing Hand, State-owned Banks and Lending Behavior: the Case of Indonesia
Muhammad Agung Prabowo, Universitas Sebelas Maret, Indonesia; Irwan Trinugroho, Universitas
Sebelas Maret, Indonesia
Economic Shock of Singapore on Malaysian Trade Balance
Dzul Hadzwan Husaini, Universiti Malaysia Sarawak (UNIMAS), Malaysia; Chin Hong Puah, Universiti
Malaysia Sarawak (UNIMAS), Malaysia
Room: B.Baruch
Chair: Muhammad Sabbir Rahman
The global perspective in US the subprime crisis: Evidence from international REIT regime switches
Meichi Huang, National Taipei University, Taiwan; I-Shan Cheng, Yuan Ze University, Taiwan
Hong Kong and Singapore Exchanges Confront High Frequency Trading
David Meyer, Washington University in St. Louis, United States; George Guernsey, Insight Mapping,
United States
Dividend Policy and Factors That Affect Dividend Policy in Vietnam Stock Market
Tai Khuat, International School-Vietnam National University, Vietnam; Hai Nguyen, International
School-Vietnam National University, Vietnam; Ngoc Hoang, International School-Vietnam National
University, Vietnam; Van Ta, International School-Vietnam National University, Vietnam;
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Thuy Anh Tong, International School-Vietnam National University, Vietnam; Nguyet Anh Nguyen,
International School-Vietnam National University, Vietnam
Do stock and REITs hedge inflation risk? An application of Markov-switching copula specification
Kuang-Liang Chang, National Chiayi University, Taiwan
COFFEE BREAK: 10:30 – 10:50
SESSION II: 10:50 – 13:20
Room: L.ZICKLIN
Chair: Meichi Huang
Impact of Service Quality and Trust on Customer Patronage Decision: Testing the ‎Moderating effects of
Corporate Image.
Muhammad Sabbir Rahman, International Islamic University Malaysia, Malaysia; Osman Mohamad,
Multimedia University Malaysia (MMU), Malaysia; Fadi Abdel Muniem Abdel Fattah, Multimedia
University Malaysia (MMU), Malaysia
Sales Force Attitude on Sales Practices – A study on Life Insurance Corporation in India,
Machilipatnam Division
Naladi Vijaya Ratnam, Acharya Nagarjuna University, India; Dokka Jagan Mohan Rao, DMH & SVR
Engineering College, India; Pallekonda Srinivasa Rao, Acharya Nagarjuna University, India
The Effectiveness of Hisbeans Coffee Shop as a Social Enterprise in Korea
Sookhee Jung, Handong Global University, The Republic of Korea; Jeong Taek Lim, People With
Fragrance, The Republic of Korea
Affect Variability in Workplace: the Effect on Emotional Labor
Wan-Jung Hsiao, National Chi Nan University, Taiwan
Room: B.Baruch
Chair: Siti Nurazira Mohd Daud
Changing professional identities in the English National Health Service (NHS): Institutional logics and
healthcare commissioning
Zlatinka Gougoumanova, University of Essex/James Cook University Australia, Singapore; Pinar
Guven-Uslu, University of Essex, United Kingdom
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Nov 13-14, 2014
The effect of land fragmentation on labor allocation and economic diversity of farm households- The
case of Vietnam
Huy Nguyen, Australian National University, Australia
Technology Innovation Efficiency of Traditional Industries in Jiangsu Province
Peng Li, Southeast University, China; Hanhui Hu, Southeast University, China
Factors contributing to successful Public Private Partnerships (PPPs) in Road Infrastructure Investment
in Vietnam:Stakeholder’s Perspective
Do Trung Nguyen, Griffith University, Australia; Professor Christine Smith, Griffith University, Australia;
Matthew Manning, Australian National University, Australia; Duc-Tho Nguyen, Griffith University,
Australia
LUNCH: 13:20 – 14:20
BEST RESEARCH PAPER AWARD
BEST STUDENT PAPER AWARD
Sponsored by Routledge Taylor & Francis Group: 14:20 – 14:30
SESSION III: 14:30 – 16:00
Room: L. ZICKLIN
Chair: Thomas Straub
External Debt and Economic Growth of Developing Countries: The Role of Domestic Financial Market
and Institutional Quality
Siti Nurazira Mohd Daud, Universiti Sains Islam Malaysia, Malaysia
Enhance health management compliance with DMIMF and Education System
Dyna Chao, National Taiwan University of Science and Technology, Taiwan, & IBM Taiwan; Tom M.Y.
Lin, National Taiwan University of Science and Technology, Taiwan; Ya-Fan Yeh, IBM, Taiwan
The Fiscal Effectiveness of the Provision of Investment Incentives
Václav Vybíhal, University of Ss Cyril and Methodius in Trnava, Slovakia
Economic Transformation and Urbanization of India
Prema Nakra, Marist College, United States; Vinod Nakra, AMITY University, India
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Nov 13-14, 2014
Room: B. Baruch
Chair: David Meyer
Taxes management in corporate financial strategies in European Union countries. The case of Poland.
Teresa Famulska, University of Economics in Katowice, Poland; Bozena Ciupek, University of
Economics in Katowice, Poland; Jan Kaczmarzyk, University of Economics in Katowice, Poland
Corporate governance and risk in European Banks during the 2007–08 financial crises
Sardar Ahmad, The Open University, United Kingdom; Mitchell Stan, The Open University, United
Kingdom
Corporate Governance Disclosure in the 2007–2011 Financial Crisis: Evidence from the UK and
Germany
Subhan Ullah, The Open University, United Kingdom
Corporate Social Responsibility Practices in Hong Kong
Helen Wong, The Hong Kong Polytechnic University, Hong Kong; Raymond Wong, The Chinese
University of Hong Kong, Hong Kong
SESSION IV: 16:30 – 18:00
Room: L. ZICKLIN
Chair: Helen Wong
Is natural resources still an important determinant of Economic Growth? Or it has already been
replaced by Openness and Innovation?
Zhijun Gao, Claremont Graduate University, United States
The role of venture capital for entrepreneurship in less developed economies
Thomas Straub, School of Management Fribourg, Switzerland; Stefano Borzillo, SKEMA Business
School, Paris, France; Andi Caragea, Bucharest University of Economic Studies, Romania; Roxana
Voicu-Dorobantu, Bucharest University of Economic Studies, Romania; Aron Jinaru, Bucharest
University of Economic Studies, Romania
FDI and its impact on Social Development in the ASEAN 5
Sridevi Narayanan, Help University, Malaysia
Room: B. Baruch
Chair: Raymond Wong
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Nov 13-14, 2014
The Relationships Among Four Factors and Turnover Intentions on Different Levels of Perceived
Organizational Support
Thanawatdech Thirapatsakun, Rajamangala University of Technology Thanyaburi, Thailand;
Chanongkorn Kuntonbutr, Rajamangala University of Technology Thanyaburi, Thailand; Panisa
Mechinda, Rajamangala University of Technology Thanyaburi, Thailand
The Relative Performance of Family Dominated Banks in Bangladesh
Tasmina Mahbub, University of Manchester, United Kingdom; Kate Barker, University of Manchester,
United Kingdom; Kent Matthews, Cardiff University, United Kingdom
Gambling and Speculating Behaviour is Simply a Matter of Managing The Level of Risk
Kogilah Narayanasamy, Multimedia University, Malaysia; Devinaga Rasiah, Multimedia University,
Malaysia; Cj Gletus Mathhews Cn Jacobs, Multimedia University, Malaysia; Ng Way Loon, Malaysia
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ABSTRACT BOOK
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Nov 13-14, 2014
FRIDAY, NOV 14 (DAY 2)
REGISTRATION: 08:30 – 17:00
SESSION I: 09:00 – 10:30
Room: L.ZICKLIN
Chair: Vinod Nakra
Impact of macroeconomic indicators on expectations of equity risk premium in CEE private
equity markets
Roman Cibera
University of Economics, Prague, Czech Republic
Tomas Krabec
University of Economics, Prague, Czech Republic
Abstract
The subject of our study presented in this paper consists of generalization of the impact of
macroeconomic indicators on the income based valuation of privately held companies and its value
driving factors. Particular attention within the general subject of our study in this paper is focused on
impact of macroeconomic indicators on expectations of equity risk premium (ERP).
Macroeconomic indicators and their estimations create the basic components for derivation of
expectations of value drivers within the methods of income based business valuation (whether
assessment of fundamental value of publicly traded companies or assessment of a particular basis of
value of privately held companies). Impact of macroeconomic indicators on stock prices of companies
traded on financial markets is, therefore, subject of interest within a whole range of empirical and
theoretical studies, e.g. Quayes and Jamal (2008), Hsing and Hsieh (2011) or Gallagher and Taylor
(2002). Our paper focuses on theoretical evaluation of ERP being one of the key value drivers applied
on investments in privately held companies.
Connection between ERP and macroeconomic environment is first documented in studies of public
financial markets (Rapach, Strauss and Zhou, 2010). Parallel to the studies of public financial markets,
attention has been given to private equity (PE) markets and their specific characteristics (Jegadeesh,
Kräussl and Pollet, 2009). By following the theoretical findings reached in this area, e.g. Ernst, Koziol
and Schweizer (2013), Cochrane (2007) or Lehavy and Sloan (2008), our goal is to outline theoretical
background for the future empirical research focusing on government macroeconomic policy and its
influence on expectation of ERP in the PE environment by using the example and data of the Czech
Republic. Future research should verify in how far the transparency of government macroeconomic
policy and its understanding by PE investors is applicable for the purpose of estimation of the expected
ERP in the PE environment.
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Networks Reconstruction and the Government’s Behaviors in the Industrial Clusters Transfer
Lei Yu
Southeast University, China
Abstract
This paper analyzed the nature of industrial clusters transfer based on the network structure of
industrial clusters, The industrial clusters networks consist of three levels networks:economic
networks,social networks and innovation networks. Industrial networks are restructuring in other place
after industrial clusters transfer, The government of undertaking place most concern to how to make
clusters successful transfer. We noted that networking in the undertaking place was the key that
industrial clusters transfer was successful.The study found:(1)Social networks and innovative networks
depend on social relations of clusters location, which can not be transferred,therefore, the essence of
clusters transfer is economic networks transfer.(2)Similar geopolitical cultures are more conducive to
the success of the transfer of industrial clusters.(3)A favorable market environment is the guarantee for
the success of industrial cluster transfer.The cluster transfer that is successful will maintain and expand
advantages of industrial clusters,promote economic development of undertaking place,the Government
must play a major role when the transfer cluster’s networks are rebuilt,otherwise industrial clusters
transfer will fail or take a long time.
Grabbing Hand, State-owned Banks and Lending Behavior: the Case of Indonesia
Muhammad Agung Prabowo
Universitas Sebelas Maret, Indonesia
Irwan Trinugroho
Universitas Sebelas Maret, Indonesia
Abstract
The grabbing theory posits that politicians and bureaucrats take advantage of their positions to extract
resources from public enterprises (state-owned enterprises) under their control. We investigate the
lending behavior of Indonesian state-owned banks especially during the election periods. We argue that
politicians may exploit these banks to fund their political campaign more so if the incumbents are
running to the elections. Several findings and policy implications are discussed.
Economic Shock of Singapore on Malaysian Trade Balance
Dzul Hadzwan
Universiti Malaysia Sarawak (UNIMAS), Malaysia
Abstract
This study examines the impact of economic shock of Singapore on Malaysian trade balance as
Singapore is the highest contributor to the import and export of Malaysia. The objective of this study is
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to examine the long run and short run impact of Singapore economic shocks on trade balance of
Malaysia using yearly data over the period 1980 – 2013. Our empirical result found that there is a long
run relationship exists among trade balance, real exchange rate, industrial value added, and Singapore
GDP. A joint of exchange rate, industrial value added and Singapore GDP is expected to cause the
trade balance in the long run. In the short run, there is only one unidirectional relationship significantly
found and it runs from Singapore GDP to trade balance. The government of Malaysia should build up a
good diplomatic relationship with the government of Singapore to encourage the bilateral trade
activities which can bring better off to both countries.
Room: B. Baruch
Chair: Muhammad Sabbir Rahman
The global perspective in US the subprime crisis: Evidence from international REIT regime
switches
Meichi Huang
National Taipei University, Taiwan
I-Shan Cheng
Yuan Ze University, Taiwan
Abstract
The study examines the global perspective of the recent real estate crisis by quantifying spillover
comovements of Real Estate Investment Trusts (REITs) from the US to the other countries. It estimates
cross-country dependences under multivariate Markov-switching models for pre- and post-crisis periods
divided at the breakpoint of August 9, 2007. The results indicate that while the regime-switching
patterns are not significant in the pre-crisis periods, global REIT markets display persistent bust
regimes during September 2008 to May 2009. The findings provide new evidence for close international
linkages in terms of boom-bust phases after the subprime crisis occurred, and imply that US investors
have greater difficulty in diversifying risks across the global REIT markets during the post-crisis period.
Hong Kong and Singapore Exchanges Confront High Frequency Trading
David Meyer
Washington University in St. Louis
George Guernsey
Insight Mapping, United States
Abstract
High frequency trading (HFT) has recently emerged as a contentious issue for exchanges. On the one
hand, advocates of HFT argue that it improves liquidity, lowers costs of trading, and compresses the
gap in bid-ask prices. On the other hand, opponents claim that HFT leads to front-running and risk of
trading system collapses. This paper compares and contrasts the Hong Kong and Singapore
exchanges in terms of how they deal with HFT. They face different types of regulators and operate in
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distinctive political economies. In Singapore’s case, the decisions of the regulator are under the direct
control of the government of Singapore. In Hong Kong’s case the policies of the regulator are impacted
by the views of the Hong Kong government, but considerations of China’s views on HFT must be
recognized. This is important because many of the key firms listed on the Hong Kong Exchange are
China’s state-owned enterprises. Furthermore, the Hong Kong and Singapore exchanges compete with
each other for listings and trading business. We show that they are both in a race to enhance their
capacities to handle HFT in an attempt to appeal to HFT firms because they need to raise their revenue
and increase their profits, a requirement they face as privately owned exchanges. Looming over both
exchanges, however, is their concern to be seen as fair, transparent trading venues.
Dividend Policy and Factors That Affect Dividend Policy in Vietnam Stock Market
Tai Khuat
International School- Vietnam National University, Vietnam
Hai Nguyen
Ngoc Hoang
Van Ta
Thuy Anh Tong
Nguyet Anh Nguyen
Abstract
The empirical paper analyzes the impact of several factors on the dividend policy of top 60 listed
companies on Vietnam stock market from 2009 to 2013 with 8 contributing factors: EPS, Market price,
dividend payment, after- tax profit, number of common shares, dividend rate, dividend payout ratio,
dividend yield. By using descriptive analysis, correlation and OLS regression, 4 regression models have
been produced with relevant analysis. The most striking features , however, lies in the Lag1 factor:
dividend rate of previous year. We have tested several econometric models base on the original one,
which is a high correlation between dividend rate and Lag1. The overall findings demonstrate the only
one optimal model: Div= 0,5134 × Lag1 + 0,000012 × EPS.
Do stock and REITs hedge inflation risk? An application of Markov-switching copula
specification
Kuang-Liang Chang
National Chiayi University, Taiwan
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Nov 13-14, 2014
Abstract
It is well known that a surge in price levels will lead to weakness in economic activity and cause
deterioration in the banking and financial markets. The real value of holding money is seriously eroded
when price levels increase. For keeping portfolio gains at a reasonable level without erosion by
inflation, investors will attempt to increase the portfolio positions of inflation-hedging assets and reduce
the portfolio weight of the money component. However, before implementing a profitable portfolio
strategy, the first step is finding the financial assets which will keep real value against inflation risk.
This paper explores the inflation hedging ability of real estate investment trusts (RETIs) and the SP500
stock index by examining the tail dependences between inflation rates and financial assets. The
Markov-switching GRG copula, which is a mixture specification of a Gumbel copula and a 90 degree
counterclockwise rotated Gumbel copula, allows both the positive and negative tail-dependence
coefficients to be different in two distinct dependence structures. Empirical results show that the
inflation-hedging abilities for REITs and the SP500 are astonishingly distinct. The relationship between
SP500 stock return and inflation rate is neither positive nor negative. The inflation-hedging ability is not
observed for the SP500 return. However, the positive and negative relationships coexist in the REITs
market. In the negative tail-dependent state, there is a statistically significant negative relationship
between inflation rate and REITs return. In the mixture tail-dependent state, positive relationship and
negative relationship can exist simultaneously and the positive tail dependence is about two times
stronger than the negative lower-upper tail dependence in terms of the tail dependence measures.
Hence, when extreme high inflation rate occurs, the REIT return shows partly inflation hedging ability in
state 2.
SESSION II: 10:50 – 13:20
Room: L. ZICKLIN
Chair: Meichi Huang
Impact of Service Quality and Trust on Customer Patronage Decision: Testing the ‎Moderating
effects of Corporate Image.
Muhammad Sabbir Rahman
International Islamic University Malaysia, Malaysia
Osman Mohamad
Multimedia University Malaysia, Malaysia
Fadi Abdel Muniem Abdel Fattah
Multimedia University Malaysia, Malaysia
Abstract
The aim of this inquiry is to test the impact of service quality and trust on customers’ patronage
intention under health insurance products in Malaysia. The research considers the moderating effects
of corporate image in between, trust and customers’ patronage intention. In summation, this research
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also examined the mediating impact of trust in between service quality and patronage intention of
health insurance products in Malaysia. The outcomes indicated that all the paths were significant in
their relationship except one. Even so the mediation impact of trust was partial rather full. Moreover, the
result revealed that there is a moderating effect of corporate image of the structural model measuring
the effects of trust on the customers’ patronage intention of health insurance products.
Sales Force Attitude on Sales Practices – A study on Life Insurance Corporation in India,
Machilipatnam Division
Naladi Vijaya Ratnam
Acharya Nagarjuna University, India
Dokka Jagan Mohan Rao
DMH & SVR Engineering College, India
Pallekonda Srinivasa Rao
Acharya Nagarjuna University, India
Abstract
From the Cave Age to date, the story of evolution of mankind is in fact a saga of continuous search for
security. Individual’s income depends upon the investment of his time when he is too old to earn as no
body can guarantee him this time. This uncertainty of time led him to the invention of insurance. India is
one of the fastest growing country at a speedy rate of 21 percent together with banking services.
Insurance services add about 7 percent to the nation’s GDP. Selling is one of the principal and most
crucial functions of LIC. This study is based on primary data with 208 sales agents and development
officer respondents of LIC operating at Machilipatnam division, Andhra Pradesh, India. The objective of
this research paper is an attempt to examine the sales force attitudes on sales practices at LIC.
Statistical tools like, Chi-square test were used to analyse the data collected.
The Effectiveness of Hisbeans Coffee Shop as a Social Enterprise in Korea
Sookhee Jung
(Associate Professor, School of Social Welfare and Counseling Psychology
Advisor, People with Fragrance)
Handong Global University, The Republic of Korea
Jeong Taek Lim
(CEO, People with Fragrance)
People with Fragrance, The Republic of Korea
Abstract
Objective
People with Fragrance is a kind of social enterprise, which was established in 2008 by students of
Handong Global University, a Christian University, in Pohang, South Korea. The aim of People with
Fragrance is to support financial independence of people with mental illness. Hisbeans is a typical
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coffee shop that offers coffee, tea and light snacks in a warm and friendly atmosphere. However, what
makes Hisbeans special is that it focuses on recruiting, training and employing people with mental
illness. It has over 39 baristas with mental illness at 7 coffee shops. This paper aims to identify the
effectiveness of Hisbeans coffee shop as a social enterprise to enhance the vocational rehabilitation for
people with mental illness.
Methods
To identify the effectiveness of Hisbeans coffee shop as a social enterprise, quantitative method and
qualitative method were used. For quantitative method, 10 baristas with mental illness have completed
a self-report questionnaires about psychosocial rehabilitation effectiveness (Psychosocial Rehabilitation
Service Assessment and Outcome Measure Scale; PRSAOMS). For qualitative method, interview with
10 baristas with mental illness and staff of the psychiatric rehabilitation center was conducted. This
interview was analyzed by thematic analysis. And also, lecture note that people with mental illness
gave the special lecture at the class of the social welfare at university was analyzed.
Results
The effectiveness of Hisbeans is as follows: First, Baristas’ clinical management and selfadvocacy of PRSAOMS was improved, but it was not significant statistically. Second,
Hisbeans provides new job opportunities for people with mental illness. Thirty-nine people with mental
illness are working as baristas at a Hisbeans coffee shop. This is a very powerful job creation model.
Third, working at Hisbeans decreases the level of their illness symptoms and the number of
hospitalizations of the employed baristas. 70% of the baristas have had successful job maintenance,
over an average period of three plus years. Forth, working at Hisbeans offers “hope for living” for
people with mental illness. Working at the coffee shop gives the employees financial independence and
meaning to their days. They report they are happier and have more motivation to get up in the
mornings. Some baristas are even promoted to the critical role of the coffee shop’s manager. Fifth, the
Hisbeans model decreases the social stigma about mental illness. The coffee shop witness people with
mental illness successfully employed and thereby decrease their prejudices and simply view the staff
as human beings with dignity. Sixth, students working alongside the staff with mental illness can
broadcast this experience into various avenues of their life. The Hisbeans baristas with mental illness
often give testimonials in their university classes, social outreach and mentoring programs, religious
affiliations, and through various social media about this unique and positive experience.
Conclusion
The current results indicated that Hisbeans coffee shop, social enterprise makes an important role to
enhance hope for living for people with mental illness. People with mental illness experience that they
can work and like other people and are highly motivated to work. Hisbeans gives opportunity to work for
people with mental, and also decreases the social stigma about mental illness.
Implication for this study shows the social enterprise like Hisbeans coffee shop should be supported by
government to supply jobs for the vulnerable social group. And networking with social enterprise, local
community, social welfare center, and university is very crucial. It needs the longitudinal study to
identify the effectiveness of this model in depth.
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Affect Variability in Workplace: the Effect on Emotional Labor
Wan-Jung Hsiao
National Chi Nan University, Taiwan
Abstract
In the current study, we conducted diary report to examine relationships between daily positive and
negative emotion (PA and NA, respectively) and emotional labor. We further theorized that selfmonitoring at a between-subjects level would moderate the within-subjects relationships.With a sample
of 124 sales employees and 3261 observations across 25 working days, we found that daily PA and NA
had a significant within-subjects main effect on daily emotional labor strategy. In addition, betweensubjects self-monitor moderated the relationship between NA and deep acting.
Room: B. Baruch
Chair: Siti Nurazira Mohd Daud
Changing professional identities in the English National Health Service (NHS): Institutional
logics and healthcare commissioning
Zlatinka Gougoumanova
University of Essex/James Cook University Australia, Singapore
Pinar Guven-Uslu
University of Essex, United Kingdom
Abstract
The objective of this research is to examine changing identities and organisational practices in
instances in which multiple institutional logics compete, conflict, and complement one another in a
mature institutional field. It explores the tensions among the professional logic (medical expertise and
autonomy), the relatively recent business logic (input into resource rationing decisions), and the new
governance logic (responsibility for institutional leadership) in the field of acute healthcare in the English
National Health Service (NHS). In particular, this paper addresses the theorisation of medical
professionals’ and other clinicians’ identities and commissioning practices. The focus is the newly
legislated entities in England called Clinical Commissioning Groups (CCGs) that are in charge of
commissioning acute (and other) healthcare with a budget of £69 billion. It is argued that competing,
conflicting, and complementing institutional logics in a mature institutional field alter professional
identities and impact on organisational practices. This study contributes to the understanding of radical
institutional change in the public sector and to the further development of the institutional logics theory
(ILT). It does so by examining self-perceived and perceived by others professional identities and
practices and their relationships to various types of institutional logics. Twenty semi-structured in-depth
interviews were conducted in two phases – from September 2012 to April 2013 (before 1 April, 2013
when the new CCG system took effect) and from April 2013 to May 2014 (after the reforms took effect).
23
Nov 13-14, 2014
The effect of land fragmentation on labor allocation and economic diversity of farm householdsThe case of Vietnam
Huy Nguyen
Australian National University, Australia
Abstract
This paper investigates the impacts of land fragmentation on economic diversity of farm households in
Vietnam. To develop the empirical analysis, a model is presented in which the impact allows for nonneutral technical change. The paper tests the theoretical predictions by providing empirical evidence on
farm and nonfarm outcomes such as labour supply and profits. By using different methods aimed at
verifying and checking the consistency of the results, we find that land consolidation may reduce farm
labour supply, and improve farm profits. Similarly, it may release more farm labour to nonfarm sectors
and increase nonfarm profits. The empirical results show that factor-biased technical change plays an
important role in explaining the impact of agricultural technical change on economic diversification.
Technology Innovation Efficiency of Traditional Industries in Jiangsu Province
Peng Li
Hanhui Hu
Abstract
Development of traditional industries has played an important role in alleviating the economic crisis,
safeguarding social employment and promoting economic development in Jiangsu province, but the
industrial structure ushered in an important period of adjustment after the financial crisis, due to the
structural contradictions still exist in the long run, also it coupled with lack of technological progress,
weak technology innovation and low level of technology and equipment problems, so these lead to the
development of traditional industries face enormous difficulties.
Innovation is the source of enterprise progress and inexhaustible power. The transformation and
upgrading of traditional industries is inseparable from the enterprise innovation behavior, also it could
inject fresh blood to the company and rationalize excess use of resources. The current production
overcapacity of traditional industries mainly because of the lack of innovation behavior of enterprises or
innovation not very well applied to the real production practice. In order to upgrade traditional industries
in Jiangsu province and thus promote economic development, the commission of economic and
information of Jiangsu has done a survey of traditional representative industry enterprise. So based on
the survey data, this paper measures the technology innovation efficiency for these independent
development enterprises, cooperative development enterprises and imitative enterprises, and then
uses Tobit model to exam the influence of the nature of enterprise, enterprise scale, R&D structure,
level of information and cash position to the technology innovation efficiency. The content of this paper
is as follows:
24
Nov 13-14, 2014
(1)Firstly, it measured the efficiency of technological innovation based on the DEA model under the
assumption of variable returns to scale and constant returns to scale;
(2)Secondly, it used threshold regression to estimate whether it existed the thresholds for independent
development, cooperative development and imitative enterprises;
(3)Finally, it checked the influence of explanatory variables to the technological innovation efficiency for
independent development, cooperative development and imitative enterprises.
Factors contributing to successful Public Private Partnerships (PPPs) in Road Infrastructure
Investment in Vietnam:Stakeholder’s Perspective
Do Trung Nguyen
Griffith University, Australia
Professor Christine Smith
Matthew Manning
Australian National University, Australia
Duc-Tho Nguyen
Abstract
In order to investigate the potential for adoption of Public Private Partnerships (PPPs) in road
infrastructure in Vietnam, this study aims to identify, categorize and analyze various critical success
factors (CSFs) for road projects that are procured through PPPs. The study follows a systematic
research approach which includes literature reviews, case studies, and questionnaire survey as well as
in-depth interviews with PPP experts and stakeholders in Vietnam regarding CSFs for PPPs. CSF
groups derived from the published literature and a set of semi-structured interviews comprise:
Prevailing Environment, Project Participants, Project Implementability, Effective Procurement, Sound
Financial Package and Government Support. A series of questionnaire survey packages are used to
collect information from relevant people in the public and private sector in the road infrastructure
industry in Vietnam. The responses are analyzed using statistical packages and the Analytical
Hierarchy Process (AHP) approach. Conclusions and recommendations are then drawn on the basis of
these findings. The research is potentially of value to future PPP projects in the field of road
infrastructure investment in Vietnam and other developing countries.
LUNCH: 13:20 – 14:20
BEST RESEARCH PAPER AWARD
BEST STUDENT PAPER AWARD
Sponsored by Routledge Taylor & Francis Group: 14:20 – 14:30
SESSION III: 14:30 – 16:00
25
Nov 13-14, 2014
Room: L. ZICKLIN
Chair: Thomas Straub
External Debt and Economic Growth of Developing Countries: The Role of Domestic Financial
Market and Institutional Quality
Siti Nurazira Mohd Daud
Universiti Sains Islam Malaysia, Malaysia
Abstract
The explosion of several debt crises has seen debt as a threat to the economy, with quite extensive
studies find negative effect of debt on growth. However, to date, there is little evidence seeking further
explanation and rationale behind this phenomenon. We address this gap by investigating the role of
domestic financial market and institutional quality in the nexus between external debt and economic
growth. By employing threshold regression, 49 developing countries within 1971-2010 sample period
are examined. Preliminary findings shows that at least 33 countries reveal the role of domestic financial
market in the debt-growth nexus. In addition, there are evidences on the role of institutional quality in
complementing the effect of debt on 32 developing country economic growth.
Enhance health management compliance with DMIMF and Education System
Dyna Chao
National Taiwan University of Science and Technology, Taiwan, & IBM Taiwan
Tom M.Y. Lin
National Taiwan University of Science of Technology, Taiwan
Ya-Fan Yeh
IBM, Taiwan
Abstract
The most recent survey has revealed 11.6% of adult in China have diabetes and it stands for about 114
million people. Furthermore, the cost on diabetes is about 25 billion USD a year and the diabetes
population will reach 143 million in 2035. It will result in heavy economic burden. The efficient disease
management is a good way to control diabetes, but it is highly depending on physician and patient to
define a feasible and sustainable individualized care plan. It covered hospital-side of medication
treatment and patient-side of life intervention. Thus, the current pain point of physician and health
educator is lacking an integrated information system that provides personalized information to particular
patient. When the high-quality care plan was defined, the major decision items was conducted by lots of
stand-alone system, such as EHR (electronic health record), clinical management outcome, patient BOI
(body of information) measurement record, psychosocial assessment and more.
The Diabetes Mellitus Interactive Management Framework (DMIMF) provides the quick snap shot and
integrated into one page dashboard. DMIMF aggregated the patient insight from Diabetes Mellitus
literacy assessment, patient-physician interactive engagement application, physician dashboard and
patient self-knowledge management system. In addition, patient’s information regarding disease
knowledge, belief and emotion, healthy diet, glucose self-monitoring, and the influence of disease on
productivity are collected. The results are analyzed by system for understanding the critical factors in
26
Nov 13-14, 2014
contributing to sustainable behavior change. When evaluating patient readiness level, the questions
from each 7 self-care behaviors (Health Eating, Being Active, Monitoring, Taking Medication, Problem
Solving, Health Coping, Risk Reducing) are dynamically presented to patient through the mobile tablet
interface to collect insight on patient’s awareness, maturity and readiness for that specific behavior.
The information framework and service model are conducted as a pilot at a diabetes management
center in a regional hospital. When participants join this study and after 6 months intervention, they are
assessed for the compliance in eating, exercise, taking medication, blood monitoring and health coping.
The preliminary result indicates that the compliance rate increases after the pilot. It implies that patient
will pay more attention on their behavior when the compliance is tracked by the physician or health
educator. Therefore, DMIMF conducts some critical factors that might mostly affect patient’s selfawareness and attention to enhance the efficiency of the disease management.
Thus DMIMF improves the compliance and a better compliance could potentially help better control on
health insurance cost and also establish stable customer relation with the hospital on customer
retention. The pharmaceutical and monitoring device companies may also beneficial from it for the
steady needs of medication and monitoring consumables.
The Fiscal Effectiveness of the Provision of Investment Incentives
Václav Vybíhal
University of Ss Cyril and Methodius in Trnava, Slovakia
Abstract
Foreign direct investments undoubtedly have a significant impact on the national economy. They
contribute to economic growth, to reducing the unemployment rate and they also positively affect other
macroeconomic indicators. Foreign companies bring with them not only foreign capital that they invest
in the host country, but also new technology, modern and more effective production and management
methods, classic standards of business conduct, new jobs as well as opportunities for domestic
suppliers.
Host countries then attempt to attract foreign investors via active policies through investment incentives
and various preferential conditions for investing. Investment incentives for foreign investors are thus
among the important public spending programs. Basic investment incentives in countries with transitive
27
Nov 13-14, 2014
economies within the European Union include income tax credits, respectively tax holidays, the transfer
of land for a subsidized price, one-time financial support for the creation of new jobs and financial
support for retraining employees. The provision of investment incentives means not only an increase on
the expenditure side of the public budget or a decrease of the income side of the public budget (due to
tax credits), but it usually leads – as our research demonstrated – to a start of the influx of revenue
sources for public budgets, already in the short or medium term horizon.
The aim of the research was to develop a methodology for measuring the fiscal effectiveness of
provided investment incentives in the process of their implementation, to determine what the effects are
on the income side of the national budget, and for this purpose construct an indicator of fiscal
effectiveness whose functional and explanatory power would need to be tested in practice among the
recipients of investment incentives.
The fiscal effectiveness of investment incentives was constructed as the share of outputs (in the form of
revenues from taxes, social and health insurance, fees, savings on the expenditure side of the budget)
on a unit of inputs (income tax credit, financial support for a created job, subsidy to cover the costs of
employee retraining, administrative costs of collecting taxes, subsidies on the technical equipment of an
area on which production is to be located, subsidy on the price of land). With regard for business plans,
fiscal effectiveness was assessed for a period of 5 years from the approval and receipt of the
investment incentive in a set of industrial enterprises in the Czech Republic. The research also covered
results that were attained in Slovakia.
Economic Transformation and Urbanization of India
Prema Nakra
Marist College, United States
Vinod Nakra
AMITY University, India
Abstract
Urbanization, a process of city establishment and growth, is fast becoming the defining process in
shaping the course of demographic, economic and social transformation of a nation. The process has
been underway for more than 250 years ago but has become a global salient feature only in 21st
century, especially with its prime locus in the poorer parts of Asia and Africa.
Using India as a case study, the authors will discuss how the country has transformed the economy
during past twenty years from an agrarian society to a semi-urban society. As the trend toward
economic growth and urbanization in India accelerates, cities will struggle to absorb new residents
while providing an environment in which people and businesses can thrive. Since economic progress
28
Nov 13-14, 2014
and urbanization possibilities go hand in hand with challenges, authors have identified key challenges
that the country faces. Authors demonstrate that unmanaged or unplanned urbanization results in
unintended consequences. For India to continue on its path to economic growth and sustainability it
must manage the process of urbanization with inclusive growth strategies illustrated in this paper.
Room: B. Baruch
Chair: David Meyer
Taxes management in corporate financial strategies in European Union countries. The case of
Poland.
Teresa Famulska
University of Economics in Katowice, Poland
Bozena Ciupek
Jan Kaczmarzyk
Abstract
Effective management of corporate finance is one of the factors that condition a competitive position of
any enterprise in the European Union. Enterprises that wish to realise their objectives set have to
consider all threats and opportunities that result from functioning in the complex environment including
formal and legal settings. Taxes are an indispensable element of such settings, thus being - for
enterprises - important external limitations of their financial strategy objectives set. This perception of
taxes results in the situation when enterprises do not act passively but undertake actions aimed at
reducing their fiscal burden.
This article aims at identifying potential opportunities for managing fiscal burden of enterprises in the
aspect of formulating their financial strategies. At the same time, it is assumed that an opportunity for
shaping fiscal burden by the very enterprise complies with all binding regulations.
Realisation of the objective set is facilitated by theoretical considerations that are based on the relevant
literature related research and economic analyses of the tax law regulations. This article presents
results of the research conducted in the sample group of representative 50 enterprises that function in
Poland. The research is focused on the issue of managing major tax burden to be faced by enterprises
in the European Union, i.e. on corporate income tax and value added tax.
Corporate governance and risk in European Banks during the 2007–08 financial crises
Sardar Ahmad
The Open University, United Kingdom
Mitchell Stan
29
Nov 13-14, 2014
Abstract
It is commonly believed that underlying causes of the global financial crisis were ineffective corporate
governance and improperly-structured compensation schemes at major banks that provided incentive
for senior managers to take on excessive levels of risk. Notwithstanding the widespread assumption
that this link exists, the evidence in support of it is mixed. Further, much of the research looks at bank
performance, often measured by buy-and-hold stock returns, and is based on the American experience.
In contrast this research focuses on European banks and risk, rather than performance. Specifically it
looks at the link between key aspects of corporate governance, in the form of board size and
independence, compensation practices, and bank risk. Given the focus on risk rather than
performance, this research should be of interest to bank regulators, deposit insurers, central banks and
financial sector policy-makers. It could also be of interest to other stakeholders of banks such as
depositors and debt-holders to whom risk, irrespective of returns, is the more important consideration.
The peculiarities of banks such as their opaqueness, heavy regulation and tendency to being subject to
government bailouts all mean that a greater understanding about factors linked to their risk is valuable.
Our sample consists of the 43 largest banks in the European Union during the period 2003 to 2011.
Risk is measured by unlevered beta as calculated by DataStream and is calculated over a 5-year
period using monthly observations. To overcome the commonly reported problems of dynamic
endogeneity, simultaneity and unobserved heterogeneity in panel data, we use a dynamic generalised
method of moments (GMM) estimator. As the sample period consists of two economically different time
periods (i.e. before the recent financial crisis and during the financial crisis) the data is analysed in
three time periods: the whole sample period, 2003–2011, the pre-crisis period of 2003 to 2006 and for
the crisis period of 2007–2011. Our results show that board size, board independence, total
compensation, the vesting period of stock options and the DataStream overall corporate governance
score are all negatively related to bank risk for the full period. In contrast, shareholders’ approval of
stock options programme compliance, the existence of a corporate governance committee and bank
size are positively associated with bank risk. The full paper provides further discussion of the findings
from the two sub-periods.
Corporate Governance Disclosure in the 2007–2011 Financial Crisis: Evidence from the UK and
Germany
Subhan Ullah
Abstract
The quality of explanations reported for non-compliance with the corporate governance codes has
recently receivedsignificant attention from regulators and academics. The Financial Reporting Council
in the UK and the European Company Law and Corporate Governance Action Plan (2012) have raised
concern over the quality of explanations reported by listed companies operating in the ‘comply or
explain’ regimes. However, there is no empirical evidence about the variation in the quality of
explanations across different corporate governance systems, especially during the recent financial
crisiswhich started in autumn 2007. This paper intends to fill that gap and it examinesthe types of
30
Nov 13-14, 2014
explanations that companies provide when they choose not to comply with or deviate from a code of
corporate governance.The UK and Germany are chosen for this study because they exhibit different
board structures, legal systems, and capital markets, although both countries have implemented formal
governance codes. These differences in the two jurisdictions therefore provide a rich context for
exploring the quality of reported explanations for non-compliance with the respective corporate
governance codes of the two countries.Using a content analysis approach, we analysed 600 corporate
governance reports for a sample of 120 firms across the UK and Germany for the period 2007–2011.
We find that, irrespective of the corporate governance systems in different locations, non-compliant
firms do exploit the ‘explain’ option and flexibility of the ‘comply or explain’ principle. On the basis of our
findings, we argue that regulators should not leave the burden of assessment of these reported
explanations to the hands of only one player (investors) in the capital market.
Corporate Social Responsibility Practices in Hong Kong
Helen Wong
The Hong Kong Polytechnic University, Hong Kong
Raymond Wong
The Chinese University of Hong Kong, Hong Kong
Abstract
Business ethics is a contemporary issue in nowadays business, it involves application of standards of
moral behavior to business situations.To general public, apart from business ethics, they also concern
whether corporations are operating socially responsible nowadays. Although the key objective of a
business corporation is to earn maximum profits for shareholders or owners, it is expected to conduct
its operations in a manner to fulfill its social obligations. Big corporations are expected to have more
corporate social responsibility practices because they have more resources. This study is to examine
the current practices of corporate social responsibility in three Hong Kong Blue Chip companies. The
selected companies are ranked top three in an Oxfam Hong Kong Survey 2009.Similarities and
differences of their practices are discussed in the study. The study provides insights to other companies
in taking up the corporate social responsibility, such as resources allocation and action plan towards
better community and environment etc. Furthermore, government or stock exchange can also take it as
a reference for setting rules and practices for listed companies.
SESSION IV: 16:30 – 18:00
Room: L. ZICKLIN
Chair: Helen Wong
Is Natural Resources still an Important Determinant of Economic Growth? Or It has Already
been Replaced by Openness and Innovation?
31
Nov 13-14, 2014
Zhijun Gao
Claremont Graduate University, United States
Abstract
In regard to the relationship between natural resources and economic development, many people think
that resource-abundant countries are rich. However, after looking into countries’ economic growth
around the world, we found the relationship is opposite. Some scholars called this phenomena “Natural
Resource Curse”. In this paper, I will analyze the relationship between natural resources and economic
growth using regression analysis; provide explanation for the curse. In the second section, I will analyze
the other two determinants for economic development: trade openness and innovation, try to explore
the reasons why some natural resource scarce countries can achieve economic success. The last
section will provide policy recommendations for a natural abundant country to avoid the curse and
maintain stable economic growth.
The role of venture capital for entrepreneurship in less developed economies
Thomas Straub
School of Management Fribourg, Switzerland
Stefano Borzillo
SKEMA Business School, Paris, France
Andi Caragea
Bucharest University of Economic Studies, Romania
Roxana Voicu-Dorobantu
Aron Jinaru
Abstract
Our paper posits that entrepreneurial performance is closely linked to the quality and intensity of social
motivation and the structure and quality of individual motivations. We argue that these two dimensions
are found in a relationship of “nature-nurture” and are linked by a complex feedback process. This
process encompasses the following dimensions (or ‘nodes’): mood → (valuing) → attitudes →
(exigency) → abilities → (transfer) → behaviors → (valuing) → acquirement → (exigency) →
performance → (transfer) → mood. We argue that the absence of venture capital for this process
affects all three essential nodes: the valuing, exigency and transfer of best practices.
Furthermore, we provide insights on our research methodology. We argue that our questionnaire was
addressed to two groups (samples) of potential entrepreneurs: one sample from Romania; one sample
from France and Switzerland.
Our paper highlights several findings. Firstly, we find that compared to the Swiss-French sample,
Romanian potential entrepreneurs (the Romanian sample) prefer to “be their own boss” and to have
“the final say”. Secondly, we find that compared to the Swiss-French sample, Romanian potential
entrepreneurs are less inclined to lead or to influence others. Thirdly, one of the most salient and
32
Nov 13-14, 2014
relevant motivational trait which distinguishes Romanian potential entrepreneurs from the Swiss-French
sample is that they consider, in opposition with the Swiss and French potential entrepreneurs, that
“today, without a lot of money, we cannot take on a whole lot”. We claim that this is the most “unentrepreneurial” aspect of Romanian potential entrepreneurs, as revealed by our research. Fourthly,
the Romanian potential entrepreneurs assert excessively the entrepreneurial will to build things that will
be recognized publicly. They also disagree more than the Swiss-French potential entrepreneurs that a
certain level of stress could stimulate them, and claim that they are a lot less effective in stressful
situations. While respondents of the Swiss-French sample assert that they are fairly at ease in difficult
situations, the Romanian respondents manifest less determination by asserting the opposite.
What stems from our results is a picture of an entrepreneurial culture that is in deadlock in Romania an equally unpleasant picture for: politicians, academics, entrepreneurs, people and next generations;
that means an unpleasant picture for all the main actors of the quintuple helix of innovative processes
which could turn the actual state of development based on the vision of economic growth into one of
sustainable development.
In order to overcome this situation, we sustain that a participatory strategic approach based on the
quintuple helix model is needed in Romania. More precisely, we argue that the impact investments and
venture capital could offer in a first stage the necessary “cultural entrepreneurial kickoff” in Romania
and; in a second stage, they could offer a more effective and efficient investment framework than the
one prevailing in the actual Romanian state - a purely bureaucratic one.
FDI and its impact on Social Development in the ASEAN 5
Sridevi Narayanan
Help University, Malaysia
Abstract
While, empirical research has been widely undertaken to examine the economic impact of FDI inflows
on the host or recipient country, this research paper examines the impact of FDI on the host country’s
social development. As the social development context has many attributes; we will use HDI (Human
Development Index) as a proxy for social development. This study focuses on developing countries’
FDI inflows because developing countries are the main attraction for FDI destinations. Hence, the
ASEAN 5 groupings are selected comprising of countries such as Singapore, Malaysia, Indonesia, the
Philippines and Thailand. Data for this study runs from a period of 1990 to 2014 and is extracted from
the World Investment report (WIR), UNTAD and the UNDP using Panel Data Method. Henceforth, the
purpose of this paper is to investigate whether along with economic benefits, there is a more
sustainable development impact of FDI to the host country
Least square Panel Regression Analysis is employed to analyze the impact of FDI on social
development at first for each of the countries separately and then jointly and the results yielded from
33
Nov 13-14, 2014
the E-views 7 were mixed, showing positive significant impact on Social development for FDI for some
countries while the others showed a negative impact.
Room: B. Baruch
Chair: Raymond Wong
The Relationships Among Four Factors and Turnover Intentions on Different Levels of
Perceived Organizational Support
Thanawatdech Thirapatsakun
Rajamangala University of Technology Thanyaburi, Thailand
Chanongkorn Kuntonbutr
Panisa Mechinda
Abstract
This article investigated the relationships among four factors and turnover intention in the context of
different levels of perceived organizational support. Data were collected from 890 professional nurses
working in Thailand. The results revealed that three components, job demand, work schedule flexibility,
and financial reward, best explained turnover intention. The result indicated that job demand had an
influence on turnover intention through work engagement. Moreover, perceived organizational support
had an effect on turnover intention through work engagement. Additionally, there was insignificant
difference in terms of the fit of the structural models for the high and low level of perceived
organizational support, indicating there is no moderating effect of perceived organizational support on
the relationship between job demand and work engagement.
The Relative Performance of Family Dominated Banks in Bangladesh
Tasmina Mahbub
University of Manchester, United Kingdom
Kate Barker
University of Manchester, United Kingdom
Kent Matthews
Cardiff University, United Kingdom
Abstract
There is a growing consensus in the literature that family dominated of ownership has a positive effect
on non-financial firm performance. However, what little has been researched on the effect of family
domination on the performance of banks shows no consensus. This paper examines the relative profit
performance of family dominated banks in Bangladesh in the context of competing hypotheses of bank
market structure. Using panel estimation we model profit performance of banks and show that the
principal drivers are efficiency and non-performing loans. We also find that family dominated banks are
34
Nov 13-14, 2014
less efficient and less profitable and that is the source of the weaker performance in its lending
practices and non-performing loan position and the practice of soft crony capitalism.
Gambling and Speculating Behaviour is simply a matter of Managing the Level of Risk
Kogilah Narayanasamy
Multimedia University
Devinaga Rasiah
Cj Gletus Mathhews Cn Jacobs
Ng Way Loon
Abstract
Gambling and speculating which is no stranger to the common man are high risk and high return
activities but not necessarily in equal measures. This research is intended to compare gambling and
speculation with similar methods with dissimilar risk but with a similar goal of making money. The
dissimilarity extends to the probability of losing or winning from the bet, and the time needed. In
addition, this study also focuses on the mind set of those indulging on gambling and speculating. This
study considers the view that gambling and speculative businesses are homogenous in the “nature”, in
order to clear the doubts of the qualified criticisms which they are also confusing speculation from
gambling (James & Douglas, 2009), therefore, researchers are assuming both are the same thing
(Shaheen & James, 1987).
35
Nov 13-14, 2014
LIST OF CONFERENCE PARTICIPANTS
36
Nov 13-14, 2014
Author
Affiliation
Evan Lau
UNIMAS
Malaysia
Thanawatdech Thirapatsakun
Rajamangala University of Technology Thanyaburi
Thailand
Zlatinka Gougoumanova
University of Essex/James Cook University Australia
Singapore
Zhijun Gao
Claremont Graduate University
United States
Huy Nguyen
Australian National University
Australia
Muhammad Sabbir Rahman
International Islamic University Malaysia
Malaysia
Fadi Abdel Muniem Abdel
Fattah
Multimedia University Malaysia
Malaysia
Teresa Famulska
University of Economics in Katowice
Poland
Bozena Ciupek
Poland
Jan Kaczmarzyk
Poland
Meichi Huang
National Taipei University
Taiwan
David Meyer
Washington University in St. Louis
United States
Naladi Vijaya Ratnam
Acharya Nagarjuna University
India
Hai Nguyen
International School- Vietnam National University
Vietnam
Van Ta
International School- Vietnam National University
Vietnam
Peng Li
Southeast University
China
Do Trung Nguyen
Griffith University
Australia
Sookhee Jung
Handong Global University
The Republic
of Korea
Tasmina Mahbub
University of Manchester
United
Kingdom
Wan-Jung Hsiao
National Chi Nan University
Taiwan
Siti Nurazira Mohd Daud
Universiti Sains Islam Malaysia
Malaysia
Dyna Chao
National Taiwan University of Science and Technology,
IBM
Taiwan
Václav Vybíhal
University of Ss Cyril and Methodius in Trnava
Slovakia
37
Country
Nov 13-14, 2014
Vinod Nakra
AMITY University
India
Kuang-Liang Chang
National Chiayi University
Taiwan
Sardar Ahmad
The Open University
United
Kingdom
Subhan Ullah
The Open University
United
Kingdom
Roman Cibera
University of Economics, Prague
Czech Republic
Tomas Krabec
University of Economics, Prague
Czech Republic
Sridevi Narayanan
Help University
Malaysia
Lei Yu
Southeast University
China
Dzul Hadzwan Husaini
UNIMAS
Malaysia
Thomas Straub
School of Management Fribourg
Switzerland
Stefano Borzillo
SKEMA Business School, Paris
France
Andi Caragea
Bucharest University of Economic Studies
Romania
Helen Wong
The Hong Kong Polytechnic University
Hong Kong
Raymond Wong
The Chinese University of Hong Kong
Hong Kong
Irwan Trinugroho
Universitas Sebelas Maret
Indonesia
Kogilah Narayanasamy
Malaysia
Torsten Weber
Cologne Business School
Germany
Biagio Simonetti
University of Sannio
Italy
Chieh-fen Lin
Taiwan International Ports Corporation
Taiwan
Murlidhar Chandekar
VMV COMMERCE, JMT ARTS and JJP SCIENCE COLLEGE
India
Gustafsson Johan
Transmarine Pacific Pte Ltd
Singapore
Frank Ong
Singapore Workforce Development Agency
Singapore
Tarek Mourad
Gulf International Bank
Saudi Arabia
Ihab Bajsair
Gulf International Bank
Saudi Arabia
Bahaa Al-Sharief
Saudi Bin Laden Group
Saudi Arabia
38
Binbin Yu
Nov 13-14, 2014
School of Economics and Management of Southeast
University
China
Glen Jones
United States
39

2014 Asia Conference on Economics & Business Research (ACEB 2014)

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2014 Asia Conference on Economics & Business Research (ACEB 2014)