Template-Type: ReDIF-Article 1.0 Author-Name: Han-Ching Huang Author-Name: Jyuan-Huei Lin Title: THE IMPACT OF SHANGHAI-HONG KONG STOCK CONNECT POLICY ON PRICE DIFFERENCE AND ANNOUNCEMENT EFFECTS Abstract: This paper investigates the impact of Shanghai-Hong Kong Stock Connect Policy on price difference and announcement effects of A Shares and H Shares, using daily data from Aug., 2014 to Feb., 2015. Data were obtained from Bloomberg. To be comparable, we collect simultaneous trading data. We find that listed time and SSE 180 sample share variables have a significant effect on price difference. The price difference after Shanghai-Hong Kong Stock Connect Policy is bigger than the price difference before Shanghai-Hong Kong Stock Connect Policy. Moreover, we find that implementation of the Shanghai-Hong Kong Stock Connect Policy has announcement effects Classification-JEL: G14, G34 Keywords: Price Difference, Announcement Effects, Shanghai-Hong Kong Stock Connect Policy Journal: Global Journal of Business Research Pages: 1-7 Volume: 10 Issue: 3 Year: 2016 File-URL: http://www.theibfr2.com/RePEc/ibf/gjbres/gjbr-v10n3-2016/GJBR-V10N3-2016-1.pdf File-Format: Application/pdf Handle: RePEc:ibf:gjbres:v:10:y:2016:i:3:p:1-7 Template-Type: ReDIF-Article 1.0 Author-Name: Devrim Yaman Title: INDUSTRY EFFECTS AND CONVERTIBLE BOND SEQUENCE Abstract: In this paper, we study how the announcement returns of convertible bonds change for different issues in a sequence for firms in various sectors of the economy. We show that industrial firms obtain significantly lower returns in later issues of convertible bonds compared to former issues. In fact, the announcement returns for the first issue of these firms in our sample period is insignificant while the returns for later issues are significantly negative. We obtain the same result for industrial firms even after we control for other variables that affect announcement returns of convertible bonds. Our results show that the announcement returns for financial firms and utilities do not present this pattern. The returns for these firms are similar for different convertible bond issues in a sequence. Classification-JEL: G30, G32 Keywords: Convertible Bonds; Sector Analysis; Announcement Returns; Sequence of Issues Journal: Global Journal of Business Research Pages: 9-20 Volume: 10 Issue: 3 Year: 2016 File-URL: http://www.theibfr2.com/RePEc/ibf/gjbres/gjbr-v10n3-2016/GJBR-V10N3-2016-2.pdf File-Format: Application/pdf Handle: RePEc:ibf:gjbres:v:10:y:2016:i:3:p:9-20 Template-Type: ReDIF-Article 1.0 Author-Name: Virginia Guadalupe Lo pez Torres Author-Name: Luis Ramon Moreno Moreno Author-Name: Juan Antonio Meza Fregoso Title: ASSESSMENT OF SUSTAINABLE TOURISM IN MEXICO Abstract: This study examines the sustainable tourism system in Mexico. We examine the norms and laws that regulate and sustain; the governmental organisms that impulses its development in terms of value chain. We also present a diagnosis of the situation by way of an extensive review of information in digital libraries and databases. The results show that sustainable tourism exists in the public politics nationwide but it is not a practice exercised by the industry in Baja California. The challenge is urgent and cannot wait. It corresponds to users demanding green products to pressure the actors to move towards the paradigm of sustainable tourism Classification-JEL: L83, Q01 Keywords: Sustainable Tourism, Laws and Norms, Users and Actors Journal: Global Journal of Business Research Pages: 21-33 Volume: 10 Issue: 3 Year: 2016 File-URL: http://www.theibfr2.com/RePEc/ibf/gjbres/gjbr-v10n3-2016/GJBR-V10N3-2016-3.pdf File-Format: Application/pdf Handle: RePEc:ibf:gjbres:v:10:y:2016:i:3:p:21-33 Template-Type: ReDIF-Article 1.0 Author-Name: Cheng-Yih Hong Author-Name: Chen-Jung Hsu Author-Name: Chung-Huang Huang Author-Name: Li-Ping Chen Author-Name: Jian-Fa Li Title: ECONOMIC EFFECTS FROM CHANGE IN TOURISM POLICY ON AN ISLAND ECONOMY Abstract: Taiwanese government adjusted its tourism policy toward Chinese people in 2008, hoping it would enhance its economic prosperity and create the employment. Motivated the economic effects generated by the relaxation of the policy were unclear, we have employed both the industry-related spillover model to examine the economic scale and the number of persons employed created, and to investigate the extent of the effect. Our findings were that the economic spillover effects were brief and transient. Nonetheless, it could overcome Taiwan’s economic challenges. Only through the sustainable management of the tourism-related industry could long-term economic effects be created Classification-JEL: H29, R28, R38 Keywords: Tourism Policy Adjustments, Aviation Deregulation, Industry-Related Spillover Model, Spillover Effect, Employment Coefficient Journal: Global Journal of Business Research Pages: 35-48 Volume: 10 Issue: 3 Year: 2016 File-URL: http://www.theibfr2.com/RePEc/ibf/gjbres/gjbr-v10n3-2016/GJBR-V10N3-2016-4.pdf File-Format: Application/pdf Handle: RePEc:ibf:gjbres:v:10:y:2016:i:3:p:35-48 Template-Type: ReDIF-Article 1.0 Author-Name: Lucila Zarraga Cano Author-Name: Gabriela Aracelly Solis Gonzalez Author-Name: Sabrina Ivonne Rodriguez Ogaz Title: THE IMPLEMENTATION OF CONJOINT ANALYSIS TO MEASURE THE ATTRIBUTES OF XCARET PARK Abstract: Tourism businesses offer a variety of products and services. Consumers have a wide range of products to choose from. Entrepreneurs wish to identify products or services that are most preferred. Because Xcaret Park has a variety of recreational activities, we wish to identify which are favored by the consumer to determine the best service strategies. The objective of this research is to find which park itineraries consumers, residents of Cancun and Playa del Carmen, prefer. A quantitative study was performed, using conjoint analysis, which measures the relative value of every attribute of a product or service. By this method, we determine the optimal combination of attributes of choice for consumers, with the intent to establish competitive strategies for services Classification-JEL: M, M3, M31 Keywords: Strategic, Service, Tourist, Preference, Conjoint Analysis Journal: Global Journal of Business Research Pages: 49-56 Volume: 10 Issue: 3 Year: 2016 File-URL: http://www.theibfr2.com/RePEc/ibf/gjbres/gjbr-v10n3-2016/GJBR-V10N3-2016-5.pdf File-Format: Application/pdf Handle: RePEc:ibf:gjbres:v:10:y:2016:i:3:p:49-56 Template-Type: ReDIF-Article 1.0 Author-Name: Lillie M. Hibbler-Britt Title: CRITICAL SUCCESS FACTORS OF BLACK FINANCIAL ADVISORS IN THE BROKERAGE INDUSTRY Abstract: Critical success factor analysis has been used by managers in numerous professions: IT, knowledge sharing, organization development and training, Catholic schools, and the Atlantic Coast Conference to determine those factors that were critical for success. In 2010, the Bureau of Labor Statistics reported that there were approximately 466,000 financial advisors and financial analysts, of whom less than 7% were Black. Successful Black personal financial advisors employ activities that ensure they meet the expectations of both employer and clients. This qualitative study utilized Stroman’s critical success factor category (CSFC) analysis to identify 243 critical success factors in eight areas: global or industry-related, external, internal, temporal or enduring, risk abatement, performance, cultural, and marketing, as defined by 15 successful Black personal financial advisors. A structural interview guide was used to determine the five most critical factors: organizational structure and support, work ethic and business processes, market analysis/target market, communications, and compliance activities. The researcher recommends further application of CSFC analysis on the financial advisor profession, on women financial advisors, and on successful Black women in the banking industry Classification-JEL: G24 Keywords: Financial Advisors, Critical Success Factor Theory, Qualitative Study, Social Capital Theory Journal: Global Journal of Business Research Pages: 57-68 Volume: 10 Issue: 3 Year: 2016 File-URL: http://www.theibfr2.com/RePEc/ibf/gjbres/gjbr-v10n3-2016/GJBR-V10N3-2016-6.pdf File-Format: Application/pdf Handle: RePEc:ibf:gjbres:v:10:y:2016:i:3:p:57-68 Template-Type: ReDIF-Article 1.0 Author-Name: Yoko Oguro Title: EXPORT VARIETY AND INTRA-INDUSTRY TRADE: THEORETICAL AND EMPIRICAL EVIDENCE Abstract: This paper theoretically and empirically investigates the relationship between the number of product varieties and the extent of intra-industry trade (IIT). IIT provides more trade opportunities for countries in which differentiated products are produced. The model presented shows that the extent of bilateral IIT is higher the smaller the gap in the number of export varieties between two countries. The empirical analysis of Japan and twenty-five countries provides support for the theoretical model presented in this paper. The theory also shows that similar number of export varieties between two countries, that is, more IIT can be a tool to redress trade imbalance between two countries. The policy implication of the results is that promoting higher product variety will increase the opportunity for IIT regardless of country specific effects Classification-JEL: F00, F10, F14, F19 Keywords: Export Variety, Trade, Intra-Industry Trade Journal: Global Journal of Business Research Pages: 69-78 Volume: 10 Issue: 3 Year: 2016 File-URL: http://www.theibfr2.com/RePEc/ibf/gjbres/gjbr-v10n3-2016/GJBR-V10N3-2016-7.pdf File-Format: Application/pdf Handle: RePEc:ibf:gjbres:v:10:y:2016:i:3:p:69-78 Template-Type: ReDIF-Article 1.0 Author-Name: Qiuyan Fan Title: FACTORS AFFECTING ADOPTION OF DIGITAL BUSINESS: EVIDENCE FROM AUSTRALIA Abstract: Small and medium-size enterprises are a significant part of the Australian economy. Understanding how Small and medium-size enterprises can effectively adopt digital strategies to facilitate their growth will have positive implications for the national economy. Research has found that Small and medium-size enterprises with a high level of digital engagement are more profitable, survive longer and grow larger (Deloitte Access Economics, 2013). However, a recent research survey shows only 16% of Australian Small and medium-size enterprises with a high level of digital engagement and the vast majority of Small and medium-size enterprises are not fully engaging with digital strategies (Deloitte Access Economics, 2013). Small businesses are at risk of missing opportunities that the digital economy opens up. While there are considerable studies on small business going online in the research literature, few studies have focused on the adoption of digital business in Greater Western Sydney. This paper attempts to address this lack by examining the level of digital engagement in Small and medium-size enterprises in Greater Western Sydney using a qualitative approach. This research analyses and identifies factors affecting adoption of digital business in Small and medium-size enterprises. The findings of this research suggest that the current state of local digital businesses in Greater Western Sydney can be best viewed as little more than using emails or providing basic information and services online. The factors affecting digital business adoption include lack of understanding of relevance of digital business to their organisations, absence of digital strategies, lack of skills and perceived cost and risk of change. Most local small businesses in Greater Western Sydney appear to be slow to advance their efforts to engage in the digital economy. This research recommends that Small and medium-size enterprises in Greater Western Sydney need a proactive approach to developing effective digital strategies Classification-JEL: O32 Keywords: SME, Digital Business Journal: Global Journal of Business Research Pages: 79-84 Volume: 10 Issue: 3 Year: 2016 File-URL: http://www.theibfr2.com/RePEc/ibf/gjbres/gjbr-v10n3-2016/GJBR-V10N3-2016-8.pdf File-Format: Application/pdf Handle: RePEc:ibf:gjbres:v:10:y:2016:i:3:p:79-84 Template-Type: ReDIF-Article 1.0 Author-Name: Mary Beth McCabe Author-Name: Ramon Corona Title: AN EMPIRICAL EXAMINATION OF FACEBOOK USE BY HISPANICS AND NON-HISPANICS Abstract: Social media has become a communications platform for brands to interact with customers. Few studies have tested how more than 50 million US Hispanics use social media. This paper investigates how Hispanics interact with social media, such as Facebook, and examines how Hispanics spend more on products or services after seeing advertising. Using an exploratory survey to collect data from Facebook users, we consider consumer behaviors, including a comparison of those who say they bought more after seeing the ads with those who did not buy more after seeing the ads. The authors determine whether the use of the Facebook ads increases the propensity to purchase products. We compare those who self-select as Hispanic vs. non-Hispanic, and consider the language preferences. Lastly, we make recommendations after analyzing the findings and describe what marketers need to know about Hispanics and social media Classification-JEL: M31, M37 Keywords: Social media has become a communications platform for brands to interact with customers. Few studies have tested how more than 50 million US Hispanics use social media. This paper investigates how Hispanics interact with social media, such as Facebook, and examines how Hispanics spend more on products or services after seeing advertising. Using an exploratory survey to collect data from Facebook users, we consider consumer behaviors, including a comparison of those who say they bought more after seeing the ads with those who did not buy more after seeing the ads. The authors determine whether the use of the Facebook ads increases the propensity to purchase products. We compare those who self-select as Hispanic vs. non-Hispanic, and consider the language preferences. Lastly, we make recommendations after analyzing the findings and describe what marketers need to know about Hispanics and social media Journal: Global Journal of Business Research Pages: 85-91 Volume: 10 Issue: 3 Year: 2016 File-URL: http://www.theibfr2.com/RePEc/ibf/gjbres/gjbr-v10n3-2016/GJBR-V10N3-2016-9.pdf File-Format: Application/pdf Handle: RePEc:ibf:gjbres:v:10:y:2016:i:3:p:85-91 Template-Type: ReDIF-Article 1.0 Author-Name: Irfan Butt Author-Name: Muhammad Athar Siddiqui Title: INFORMATIONAL AND FUNCTIONAL EXPORT BARRIERS FACED BY SMALL AND MEDIUM ENTERPRISES IN EMERGING ECONOMY Abstract: The performance of small and medium enterprises is very important for both the economic and the social development of most emerging markets. Although Small and medium firms account for a large number of the industrial firms in emerging markets, their involvement in export related activities is considerably smaller. However, in view of the dynamics of the current global business environment, small and medium firms need to prepare themselves better to take advantage of trade liberalization and borderless economies. Hence it is very important for us to determine the factors that hinder emerging market small and medium firms from exporting their products abroad We used qualitative methods to explore our research topic and interviewed managers and CEOs of 49 small and medium firms in diverse industries of Pakistan. Data were collected in 2014. Our research confirms the internal and external barriers highlighted by earlier research. However, we noticed that there is a dearth of inter-organizational collaboration among the firms. This dimension has not been captured in the internal and external barriers approach. The existing literature on networks stresses the importance of inter-organizational relationships and networks among firms in general and specifically among small and medium firms. The emerging market small and medium firms must collaborate with each other, both in terms of operational resources and handling large export orders, if they want to enter in the competitive export markets. The government can also help such firms by encouraging the formation of export production networks Classification-JEL: M310, O19 Keywords: Export Barriers, Informational Barriers, Functional Barriers, SMEs Journal: Global Journal of Business Research Pages: 93-103 Volume: 10 Issue: 3 Year: 2016 File-URL: http://www.theibfr2.com/RePEc/ibf/gjbres/gjbr-v10n3-2016/GJBR-V10N3-2016-10.pdf File-Format: Application/pdf Handle: RePEc:ibf:gjbres:v:10:y:2016:i:3:p:93-103