Template-Type: ReDIF-Article 1.0 Author-Name: Giuseppe Galloppo Title: A COMPARISON OF PRE AND POST MODERN PORTFOLIO THEORY USING RESAMPLING Abstract: This article introduces the Resampling approach to Portfolio modelling, targeted at reducing the effect of estimation error present in any practical implementation of a Portfolio Model. Resampling is a method used in portfolio modelling to try to obtain better out of sample performance for given input model parameters. In the real world, where the possibility of estimating errors for future model forecasts certainly exist, it is necessary to consider the error component in building portfolios. Resampling does this by recombining the input parameters required for a portfolio model. In this paper an application of Resampling is performed using a sample of equities from different stock markets. The results are presented for Tracking Error Minimization, Mean Absolute Deviation Minimization (MADM) and Shortfall Probability Minimization Models. The innovation in this study lies in the comparison made with different portfolio models. Unlike previous studies, the evidence shows that Resampling applied to the Markowitz model does not generate better out of sample performance. However, the benefits of Resampling applied to the Post Modern Theory model are remarkable. Classification-JEL: G11 Keywords: Technical Analysis, Post Modern Portfolio Theory, Resampling Journal: Global Journal of Business Research Pages: 1-16 Volume: 4 Issue: 1 Year: 2010 File-URL: http://www.theibfr2.com/RePEc/ibf/gjbres/gjbr-v4n1-2010/GJBR-V4N1-2010-1.pdf File-Format: Application/pdf Handle: RePEc:ibf:gjbres:v:4:y:2010:i:1:p:1-16 Template-Type: ReDIF-Article 1.0 Author-Name: Yan Alice Xie Author-Name: Howard Qi Title: JOB SECURITY AND PERSONAL INVESTMENT PORTFOLIO Abstract: This paper incorporates human capital into the well-established portfolio theory by allowing for job security in personal portfolio choice. Our model predicts that young people hold more cash to hedge against risk associated with human capital (layoff risk). As people age, layoff risk decreases, and consequently, they invest in more risky assets – stocks in their portfolios. However, as people approach retirement, their human capital diminishes, and they become more risk averse. Hence, they hold more cash again. Our model provides a plausible explanation for the observed investment behavior of people who reveal humped shape stock holdings over the life cycle. Our results suggest that financial advisors should take into account different levels of job security when giving financial advice to different individuals. Classification-JEL: G11; G23 Keywords: Job security, personal portfolio, human capital Journal: Global Journal of Business Research Pages: 17-27 Volume: 4 Issue: 1 Year: 2010 File-URL: http://www.theibfr2.com/RePEc/ibf/gjbres/gjbr-v4n1-2010/GJBR-V4N1-2010-2.pdf File-Format: Application/pdf Handle: RePEc:ibf:gjbres:v:4:y:2010:i:1:p:17-27 Template-Type: ReDIF-Article 1.0 Author-Name: Hamid Shahrestani Author-Name: Bijan Bidabad Title: AN IMPLIED INCOME INEQUALITY INDEX USING L1 NORM ESTIMATION OF LORENZ CURVE Abstract: Distribution of income is among the most important issues in welfare economics. Economic literature provides different ways to measure income inequality. Most common inequality indices provide information about the income distribution and analyze the inequality of income allocation without any reference to the amount of money needed to reduce the income inequality.In this paper, we design a model to estimate the Lorenz curve function parameters. By this approach, any census summary data can be used to measure the distribution of income. We also introduce a new fiscal-compensation-based index for reduction of the degree of inequality. Using this index, we show how much transfer payment is needed to achieve the desired distribution of income consistent with the perceived economic goals of the society. Classification-JEL: C63 Keywords: Income distribution, Inequality index, Lorenz curve Journal: Global Journal of Business Research Pages: 29-45 Volume: 4 Issue: 1 Year: 2010 File-URL: http://www.theibfr2.com/RePEc/ibf/gjbres/gjbr-v4n1-2010/GJBR-V4N1-2010-3.pdf File-Format: Application/pdf Handle: RePEc:ibf:gjbres:v:4:y:2010:i:1:p:29-45 Template-Type: ReDIF-Article 1.0 Author-Name: Prabha Ramseook-Munhurrun Author-Name: Perunjodi Naidoo Author-Name: Soolakshna Desai Lukea-Bhiwajee Title: MEASURING SERVICE QUALITY: PERCEPTIONS OF EMPLOYEES Abstract: The purpose of this paper was to assess the service quality of a call centre as perceived by its employees using the SERVQUAL model. The paper focused on employees as internal customers and the critical role employees play in the delivery of quality service. The dimensions predicting front-line employee satisfaction and loyalty were explored. Data was collected by field study in a particular call centre in Mauritius using a modified SERVQUAL questionnaire. The study examined both perception and expectation levels of front-line employees. Regression models were used to test the influence of service quality dimensions on satisfaction and loyalty. The results indicated that loyalty was best predicted by overall satisfaction, tangibles and responsiveness. This study contributes to the understanding of service quality, satisfaction and employees’ loyalty within a business process outsourcing organization. Classification-JEL: M31 Keywords: Employee, Satisfaction, Loyalty, SERVQUAL, Call Centre, Mauritius Journal: Global Journal of Business Research Pages: 47-58 Volume: 4 Issue: 1 Year: 2010 File-URL: http://www.theibfr2.com/RePEc/ibf/gjbres/gjbr-v4n1-2010/GJBR-V4N1-2010-4.pdf File-Format: Application/pdf Handle: RePEc:ibf:gjbres:v:4:y:2010:i:1:p:47-58 Template-Type: ReDIF-Article 1.0 Author-Name: Jui-Kuei Chen Author-Name: I-Shuo Chen Title: DISPARITIES BETWEEN SERVICES DEMANDED AND SERVICES RECEIVED IN TAIWANESE RESTAURANTS Abstract: The aim of this study is to evaluate the service quality performance of Taiwanese foreign restaurants. After a review of the literature on service quality and discussions with managers of Taiwanese foreign restaurants, we decided to use the DINERSERV questionnaire. The methodology, an Importance-Performance Analysis (IPA), is used to categorize whole service items into four dimensions: 1) keep up the good work, 2) possible overkill, 3) low priority, and 4) concentrate here, all in accordance with the service performance of each service item. The critical findings indicate that Taiwanese foreign restaurants should improve upon the following seven service items: the parking lot around the restaurant (I2), regular updates to the menu (I8), comfortable seating (I11), fast service (I18), waiters’ problem-solving ability (I20), waiters’ understanding of customers (I27), and always putting the customer first (I28). The results of the study are discussed, along with the implications for managers of Taiwanese foreign restaurants. Classification-JEL: C10, M10, M31 Keywords: Taiwan; SERVQUAL Journal: Global Journal of Business Research Pages: 59-69 Volume: 4 Issue: 1 Year: 2010 File-URL: http://www.theibfr2.com/RePEc/ibf/gjbres/gjbr-v4n1-2010/GJBR-V4N1-2010-5.pdf File-Format: Application/pdf Handle: RePEc:ibf:gjbres:v:4:y:2010:i:1:p:59-69 Template-Type: ReDIF-Article 1.0 Author-Name: Than Lam Author-Name: Teresa M. Lao Title: EVIDENCE ON EFFORTS TO ALIGN ORGANIZATIONAL STRUCTURES AND BUSINESS STRATEGIES Abstract: This paper is based upon a research study to determine the significance of managerial leadership practices in a corporation’s transformation during the period from 2004 to 2008. The study attempted to discover how managerial leadership practices effectively advance horizontal integration of an inclusive and collaborative organization. The study was grounded on propositions involving organizational development roles, IT governance, and collaborative organizations. Triangulated inquiry from peerreviewed documents and a survey of 24 participants who included 2 women and 22 men comprising a chief information officer, 7 functional managers, 8 project managers, and 8 engineers of a corporation in the Northeastern United States confirmed the propositions. The findings indicated that horizontal integration has begun in transition from being separate toward becoming collaborative. This paper will reveal how disparate images that are subculture bound could be enhanced by the Full Spectrum Leadership model involving collaborative and integrative leadership practices. Classification-JEL: M15 Keywords: IT Management, business strategy Journal: Global Journal of Business Research Pages: 71-84 Volume: 4 Issue: 1 Year: 2010 File-URL: http://www.theibfr2.com/RePEc/ibf/gjbres/gjbr-v4n1-2010/GJBR-V4N1-2010-6.pdf File-Format: Application/pdf Handle: RePEc:ibf:gjbres:v:4:y:2010:i:1:p:71-84 Template-Type: ReDIF-Article 1.0 Author-Name: Chun-Hao Cheng Author-Name: Chi-Jung Hsieh Author-Name: Yen-Hui Ouyang Title: THE STUDY OF THE GUANXI TRANSFERRING PROCESS FROM INDIVIDUAL TO THE ORGANIZATION BY GENETIC ALGORITHM Abstract: Guanxi covers not only the relationships, but also the core social customs of individuals from China. This study is similar to previous studies, in focusing on the link between an individual’s guanxi and the organization. It differs from previous studies, however, in the way that subjects’ process of transferring guanxi is analyzed. This paper proposes modeling the economies of individual guanxi so that its impact on the organization in dyadic business exchanges can be measured. First, this paper introduces the concept of individual guanxi in the business environment. Secondly, some of the variables that are related to this issue are presented. Thirdly, a process for transferring guanxi is proposed to better understand the effect on the organization. With the transferring process, the organization could recognize the importance of guanxi, and gather up the threads of improve performance. Finally, we propose a numeric simulation to perform this guanxi transferring process using a genetic algorithm. In this process, it is found that the chromosome (the individual guanxi), crossover probability (the interaction between the individual guanxi), and mutation probability (the uncertainty of guanxi) all play important roles. Classification-JEL: A1, O53 Keywords: Guanxi, Genetic Algorithm, Mutation Probability Journal: Global Journal of Business Research Pages: 85-95 Volume: 4 Issue: 1 Year: 2010 File-URL: http://www.theibfr2.com/RePEc/ibf/gjbres/gjbr-v4n1-2010/GJBR-V4N1-2010-7.pdf File-Format: Application/pdf Handle: RePEc:ibf:gjbres:v:4:y:2010:i:1:p:85-95 Template-Type: ReDIF-Article 1.0 Author-Name: Anna Svirina Title: MEASURING MANAGERIAL EFFICIENCY: A BALANCED APPROACH Abstract: In the paper a balanced approach to management efficiency measurement is proposed. The concept of measuring management function efficiency is presented. Most of the presented measuring instruments are non-financial in nature and are incorporated into a balanced scorecard methodology. The paper proposes weighting for each of five recommended managerial function measures in determining overall managerial performance. The implications of the technique are tested using a sample of Russian firms. The authors argue that the proposed measurement be applied not only in individual firms, but across supply chains. Classification-JEL: L1, M1 Keywords: management efficiency, management functions, balance, firms Journal: Global Journal of Business Research Pages: 97-104 Volume: 4 Issue: 1 Year: 2010 File-URL: http://www.theibfr2.com/RePEc/ibf/gjbres/gjbr-v4n1-2010/GJBR-V4N1-2010-8.pdf File-Format: Application/pdf Handle: RePEc:ibf:gjbres:v:4:y:2010:i:1:p:97-104 Template-Type: ReDIF-Article 1.0 Author-Name: Wen-Cheng Lu Author-Name: Ting-Kun Liu Title: MALMQUIST INDICES OF R&D PRODUCTIVITY GROWTH IN TAIWANESE IC-DESIGN INDUSTRY Abstract: This article employs the Malmquist index, a data envelopment analysis-type nonparametric technique, to decompose productivity growth into technical efficiency and technological change for Taiwanese IC-design firms. The results indicate that the increase in R&D productivity is mainly attributed to the increase in technical change, and the efficiency gain found is largely the result of improvements in scale efficiency. R&D productivity growth from the panel Tobit regression empirically shows that productivity growth did occur due to an increase in the debt ratio, to the firm being small, as well as due to the firm’s superior credit rating. Classification-JEL: C61, L63, O30 Keywords: Malmquist index, Productivity growth, Technological Efficiency Journal: Global Journal of Business Research Pages: 105-114 Volume: 4 Issue: 1 Year: 2010 File-URL: http://www.theibfr2.com/RePEc/ibf/gjbres/gjbr-v4n1-2010/GJBR-V4N1-2010-9.pdf File-Format: Application/pdf Handle: RePEc:ibf:gjbres:v:4:y:2010:i:1:p:105-114 Template-Type: ReDIF-Article 1.0 Author-Name: Avraam Papastathopoulos Author-Name: George Anastassopoulos Author-Name: Christina Beneki Title: AN EMPIRICAL STUDY OF SMALL AND MEDIUMSIZED ENTERPRISE INFORMATION COMMUNICATION TECHNOLOGIES (ICTS) Abstract: The purpose of this study is to gather information about the use of ICTs among SMEs by firm size and industry sector and to determine the factors, which are related to the development created by the effective and efficient use of ICTs. In order to study the wide range of ICTs, they are separated in five main categories (Information systems, Enterprise systems, Electronic Business & Commerce, Telecommunications networks and Identification, Data Capture & Telemetric Technologies). The empirical analysis is based on a joint methodology of fully structured questionnaires and personal interviews in 54 Greek SMEs at four different industrial Sectors (Other Services, Manufacturing, Trade and Hotels). Classification-JEL: M1; O3 Keywords: ICT, SMEs, effective-efficient use, strategic management, process planning Journal: Global Journal of Business Research Pages: 115-128 Volume: 4 Issue: 1 Year: 2010 File-URL: http://www.theibfr2.com/RePEc/ibf/gjbres/gjbr-v4n1-2010/GJBR-V4N1-2010-10.pdf File-Format: Application/pdf Handle: RePEc:ibf:gjbres:v:4:y:2010:i:1:p:115-128