Template-Type: ReDIF-Article 1.0 Author-Name: Chris C. Hsu Title: THE INTEREST RATE PASS-THROUGH: AN EMPIRICAL STUDY OF SEVEN ASIAN ECONOMIES Abstract: This paper examines the extent of interest rate pass-through in seven Asian economies including Indonesia, Korea, the Philippines, Singapore, Thailand, Hong Kong, and Taiwan. The data selected ranges from after the 1997 Asian financial crisis to right before the 2008 financial turmoil and examines the question of whether these Asian economies’ banking systems have recovered and become stronger since the 1997 financial crisis. The Error Correction Model was adopted in the study, and the empirical results suggested that banks adjust the markets to their retail rates with some levels of delay and the extent of the adjustments in intermediate and long-term pass-through vary depending on the nature of financial instruments and the length of their maturities. In general, countries with more highly developed financial markets usually respond to market conditions more actively and fully, while countries with less developed financial markets tend to have a longer adjustment process. Lending rates are usually stickier than deposit rates in the countries studied Classification-JEL: E42, E44, E52 Keywords: Interest Rate Pass-Through; Error Correction Model; Emerging Markets; Comparable Market Interest Rate Journal: Global Journal of Business Research Pages: 1-10 Volume: 11 Issue: 2 Year: 2017 File-URL: http://www.theibfr2.com/RePEc/ibf/gjbres/gjbr-v11n2-2017/GJBR-V11N2-2017-1.pdf File-Format: Application/pdf Handle: RePEc:ibf:gjbres:v:11:y:2017:i:2:p:1-10 Template-Type: ReDIF-Article 1.0 Author-Name: Melissa Cortina-Mercado Title: EFFECT OF PACKAGING DESIGN IN THE PURCHASE DECISION PROCESS: A COMPARISON OF GENERATIONS Abstract: The tangible aspects of a determined product can be essential to communicating the positioning of the brand, since these aspects are projected as recognized elements of the product. Therefore, the aim of this research is to assess the relationship between the process of consumer purchases at the moment of acquiring personal care products and the tangible aspects of packaging according to their generational cohort. These tangible aspects of packaging are the visual aspects that a product contains, identified as graphic elements and informational elements. The study looks at consumer decision-making of participants from three generational cohorts: Baby Boomers, Generation X, and Generation Y. The research provides evidence about existing relationships between graphic elements and the generational cohorts, as well as statistical differences between these cohorts in terms of informational elements. The article exposes theoretical and empirical evidence, with the objective to support companies’ managers to explore and combine elements to achieve and project positioning and equity at the moment of choosing or transforming their package designs according to their target market Classification-JEL: M3 Keywords: Purchase Decision Process, Package, Tangible Aspects, Graphic Elements, Informational Elements, And Generational Cohort Journal: Global Journal of Business Research Pages: 11-26 Volume: 11 Issue: 2 Year: 2017 File-URL: http://www.theibfr2.com/RePEc/ibf/gjbres/gjbr-v11n2-2017/GJBR-V11N2-2017-2.pdf File-Format: Application/pdf Handle: RePEc:ibf:gjbres:v:11:y:2017:i:2:p:11-26 Template-Type: ReDIF-Article 1.0 Author-Name: Chih-Wen Yang Author-Name: Chun-An Li Author-Name: Sam Ting-Hsin Hsu Title: AN EXPLANATION OF FINANCIAL MARKET ANOMALIES: RISK-BASED OR BEHAVIORAL VIEW? A NEW PERSPECTIVE ON FINANCIAL CONSTRAINTS Abstract: At present, there are two main explanations for market anomalies, namely, risk-based and behavioral. While the risk-based perspective states that abnormal returns arise owing to investors undertaking financial risks, the behavioral perspective states that abnormal returns arise owing to investor psychology. However, we believe that the source of abnormal returns originates from financing constraints. Viewed from a different perspective, financial constraints arise from information asymmetry, which in turn leads to an incorrect assessment of behavior. Moreover, the risk of financial distress also has a correlation with financial constraint. The link between the two provides another common explanation for market anomalies. This study utilizes publicly disclosed stock data of the Taiwan stock exchange in order to prove the above argument. Furthermore, apart from the commonly observed explanations of under- and overreaction, cash dividends can also logically explain the extent of under- and overreaction, which plays a critical role in determining the expected returns of an asset portfolio Classification-JEL: G12, G14, G31 Keywords: Underreaction, Overreaction, Three-Factor Model, Financial Constraint Journal: Global Journal of Business Research Pages: 27-42 Volume: 11 Issue: 2 Year: 2017 File-URL: http://www.theibfr2.com/REPEC/ibf/gjbres/gjbr-v11n2-2017/GJBR-V11N2-2017-3.pdf File-Format: Application/pdf Handle: RePEc:ibf:gjbres:v:11:y:2017:i:2:p:27-42 Template-Type: ReDIF-Article 1.0 Author-Name: Janet L. Walsh Title: SUCCESS CHARACTERISTICS OF FOREIGN DIRECT INVESTMENT IN CUBA Abstract: FDI in the Cuban tourism industry has grown rapidly under the leadership of Cuban President Raul Castro. However, because of the US embargo, the Helms Burton (1966) Act, and competitive business strategies, little scholarly information exists on company experiences in Cuba market entry. This qualitative case study examined the market entry strategies, challenges, opportunities, and actions of 20% of the tourism businesses operating in Cuba. Key results revealed the US embargo constrained Cuba market entry on multiple levels including legal, financial, resources, and supply chain. Cuban decision-making practices were challenging as was the establishment of a business relationship. Relationships, adaptability, and developing unique, Cuba-centric business strategies were crucial to success. Tax strategy, human resources legislation, safety, and security were not factors Classification-JEL: F1, F2 Keywords: Cuba, Foreign Direct Investment, Trade, International, Tourism Journal: Global Journal of Business Research Pages: 43-53 Volume: 11 Issue: 2 Year: 2017 File-URL: http://www.theibfr2.com/RePEc/ibf/gjbres/gjbr-v11n2-2017/GJBR-V11N2-2017-4.pdf File-Format: Application/pdf Handle: RePEc:ibf:gjbres:v:11:y:2017:i:2:p:43-53 Template-Type: ReDIF-Article 1.0 Author-Name: Angélica Montaño Armendáriz Author-Name: Ismael Rodríguez Villalobos Author-Name: Juan Carlos Pérez Concha Title: ENTREPRENEUR WOMEN AND LOCAL DEVELOPMENT IN RURAL MEXICO AREAS Abstract: This paper provides an analysis of local development, to deepen understanding of characteristics and behavior of women in rural areas in the municipality of Los Cabos, Baja California Sur. Specifically in the local delegations of Santiago, Miraflores, and La Ribera. We also identify investment opportunities that promote the entrepreneurial activity of women in that area. We wish to determine the business opportunities available in the area. We also identify market demands, available and potential resources, and analyze the possible impact of local areas through potential economic activities. The methodology involved examining documentary sources. In addition, we utilize direct observation, and planning workshops. Later, we administer a questionnaire to a representative sample of women from the study area. The results allow us to diagnose the woman’s situation and her development opportunities Classification-JEL: J16, R11, R58 Keywords: Entrepreneurialism, Gender Focus, Territorial Development, Rural Area Journal: Global Journal of Business Research Pages: 55-66 Volume: 11 Issue: 2 Year: 2017 File-URL: http://www.theibfr2.com/RePEc/ibf/gjbres/gjbr-v11n2-2017/GJBR-V11N2-2017-5.pdf File-Format: Application/pdf Handle: RePEc:ibf:gjbres:v:11:y:2017:i:2:p:55-66 Template-Type: ReDIF-Article 1.0 Author-Name: Ryan L. Skiver Author-Name: Michael Godfrey Title: CROWDSERVING: A LAST MILE DELIVERY METHOD FOR BRICK-AND-MORTAR RETAILERS Abstract: The retail industry increasingly is shifting to online sales. According to Forrester Researchers, ecommerce has seen an increase of over 10% per year. To be able to compete, brick-and-mortar retailers have begun offering customers free online order pickup options at their retail stores. However, customer demands are shifting to a same-day home delivery model. This home delivery model has companies such as Amazon searching for new technologies to deliver faster. For brick-and-mortar stores to compete, they must try to match this same-day home delivery model to meet customer demands. Last mile delivery (LMD) is an option for brick-and-mortar stores given that they store products at multiple retail facilities and distribution centers. Some brick-and-mortar stores now are incorporating third party carriers to provide same-day delivery. The drawback to LMD is the increased transportation cost, which includes vehicle, fuel, and driver costs. This article explores the option of a variation of crowdsourcing along with current technologies in the way of cell phone apps utilizing GPS technology and real-time notifications to explore a viable customer delivery method for LMD. This new method will provide a way to reduce transportation costs and to make LMD more feasible at many brick-and-mortar retailers Classification-JEL: M110 Keywords: Crowdsourcing, Crowdserving, Last Mile Delivery, Ecommerce, Brick–And-Mortar Journal: Global Journal of Business Research Pages: 67-77 Volume: 11 Issue: 2 Year: 2017 File-URL: http://www.theibfr2.com/RePEc/ibf/gjbres/gjbr-v11n2-2017/GJBR-V11N2-2017-6.pdf File-Format: Application/pdf Handle: RePEc:ibf:gjbres:v:11:y:2017:i:2:p:67-77 Template-Type: ReDIF-Article 1.0 Author-Name: Chantal Scoubeau Author-Name: Laetitia Pozniak Title: INFORMATION RESEARCH BY INDIVIDUAL INVESTORS: EVIDENCE FROM BELGIUM Abstract: This research examines how individual investors use the internet and traditional media to identify information and formulate their investment decisions. Before this study we developed several researche papers concerning financial information disclosure on the internet (Pozniak, 2010; Pozniak & Croquet, 2011; Pozniak; 2013). We also met managers of listed small and medium-sized firms (SME) to understand their point of view about internet financial communication (Pozniak & Guillemette, 2013). In this study, we report our first findings with the other side of financial communication. Our goal is to pinpoint the communication’s target. To reach our research goals and understand the point of view of individual investors, we use a qualitative approach. We met 17 individual investors and used QSR Nvivo 10 to analyze the interviews. We identified the nature and source of information they search. Investment clubs as a source of information was discussed. We pay special attention to their internet profile in general and how they use the internet to search information Classification-JEL: M15, G10, C50, O32 Keywords: Financial Communication, Internet, Individual Investors, Qualitative Approach, Interviews Journal: Global Journal of Business Research Pages: 79-89 Volume: 11 Issue: 2 Year: 2017 File-URL: http://www.theibfr2.com/RePEc/ibr/gjbres/gjbr-v11n2-2017/GJBR-V11N2-2017-7.pdf File-Format: Application/pdf Handle: RePEc:ibf:gjbres:v:11:y:2017:i:2:p:79-89 Template-Type: ReDIF-Article 1.0 Author-Name: Philipp Schäfers Author-Name: André Walther Title: MODELLING CIRCULAR MATERIAL FLOW AND THE CONSEQUENCES FOR SCM AND PPC Abstract: This paper discusses the consequences of product return and circular material flow on a supply chain as well as on production planning and control. Furthermore, this paper presents an approach to incorporate the ideas of product return and circular material flow into the Hanoverian Supply Chain Model. To reach this goal a reverse supply chain is added to the existing framework. First of all, the flows of material in the reverse supply chain are defined in an abstract way. Secondly, the reverse supply chain is divided into core processes. The connections between these core processes of the forward and the reverse supply chain are depicted. Subsequently, systems of KPIs are set up for the core processes of the reverse supply chain. In a last step, the consequences of the integration of a reverse supply chain on planning, controlling and monitoring production are discussed Classification-JEL: L2, L6 Keywords: Logistics, Modelling, Circular Material Flow, Product Return Journal: Global Journal of Business Research Pages: 91-100 Volume: 11 Issue: 2 Year: 2017 File-URL: http://www.theibfr2.com/RePEc/ibf/gjbres/gjbr-v11n2-2017/GJBR-V11N2-2017-8.pdf File-Format: Application/pdf Handle: RePEc:ibf:gjbres:v:11:y:2017:i:2:p:91-100