Template-Type: ReDIF-Article 1.0 Author-Name: Cassandra E. DiRienzo Author-Name: Douglas B. Redington Title: POLITICAL MANAGEMENT AND CORRUPTION IN DEVELOPING NATIONS Abstract: This study empirically explores the relationship between corruption and the quality of political management in developing nations using a cross-country dataset. Specifically, this analysis jointly considers the two theoretical effects of corruption, ‘grease the wheels’ and ‘sand in the wheels’, argued in the literature to determine if a nonlinear relationship exists between corruption and the quality of political management. Using a cross-country data set of 114 countries, the results of this study suggest that corruption has an overall negative effect on the quality of political management in developing nations; however, political managers can benefit from a minimal level of corruption and that the complete absence of corruption can hinder the effectiveness of political managers. The Concluding Comments section includes a discussion of the policy implications of the findings. Classification-JEL: O57; O15 Keywords: Political Management, Corruption, Developing Nations, Nonlinear Journal: Global Journal of Business Research Pages: 1-11 Volume: 8 Issue: 2 Year: 2014 File-URL: http://www.theibfr2.com/RePEc/ibf/gjbres/gjbr-v8n2-2014/GJBR-V8N2-2014-1.pdf File-Format: Application/pdf Handle: RePEc:ibf:gjbres:v:8:y:2014:i:2:p:1-11 Template-Type: ReDIF-Article 1.0 Author-Name: Edith Georgina Surdez-Pérez Author-Name: Norma Aguilar-Morales Author-Name: María del Carmen Sandoval-Caraveo Author-Name: María Elvira López-Parra Author-Name: Zulema Isabel Corral-Coronado Title: THE RELATIONSHIP BETWEEN COMPANY PERFORMANCE AND OWNER CHARACTERISTICS: EVIDENCE FROM MEXICO Abstract: Business continuance and growth are determined by personal attributes of the company owner. This research identifies social & demographic similarities, as well as the attitudes of business owners in two Mexico cities. These entrepreneurs have managed to stay in business in the market from one context to another context. This will set a point of reference to current and potential businesspeople in terms of developing the necessary attributes. A simple random sampling was chosen for this survey, along with a questionnaire answered by 213 businesspeople. Negotiation-skills, creativity, hard-wok and selfdiscipline, are reported as remarkable features on these men and women. Classification-JEL: L26 Keywords: Small Business, Entrepreneur, Attitudes, Socio-demographic Characteristics, Business Growth Journal: Global Journal of Business Research Pages: 13-22 Volume: 8 Issue: 2 Year: 2014 File-URL: http://www.theibfr2.com/RePEc/ibf/gjbres/gjbr-v8n2-2014/GJBR-V8N2-2014-2.pdf File-Format: Application/pdf Handle: RePEc:ibf:gjbres:v:8:y:2014:i:2:p:13-22 Template-Type: ReDIF-Article 1.0 Author-Name: Pierre Al Khoury Author-Name: Marwan Al Kotob Author-Name: Chahd Iskandar Author-Name: Firas El Amad Author-Name: Tala Mezher Author-Name: Tarek Saidi Author-Name: Wassim Ghazzawi Author-Name: Zeina Al-Baba Title: EMPLOYEES’ PERCEPTION ABOUT THE EFFECT OF TRAINING ON PROMOTION: EVIDENCE FROM LEBANON Abstract: Through training, employees add significance to their soft skills and to their expertise in the work field, thus working more efficiently and effectively. To achieve the skill or expertise mentioned, an employee needs to attend a training session or more, which can be either his own choice on his own expense, or a training session prearranged by his company. Yet, employees always suspect the affectivity of training. Researchers conducted this research is to study the effect of training on employee’s advancement. The researchers use Primary research to conduct this research. The most useful observation found in the research was that the majority of employees agreed that training contribute to salary increase, as most employees were satisfied in their current position and feel loyal towards their company. Training and development should enhance and widen the employees’ perspective to enable them identify their role and strengthen themselves to climb up through the organizational ladder. Classification-JEL: M51, M53 Keywords: Training, Promotion, Salary Increase, Development, Satisfaction Journal: Global Journal of Business Research Pages: 23-31 Volume: 8 Issue: 2 Year: 2014 File-URL: http://www.theibfr2.com/RePEc/ibf/gjbres/gjbr-v8n2-2014/GJBR-V8N2-2014-3.pdf File-Format: Application/pdf Handle: RePEc:ibf:gjbres:v:8:y:2014:i:2:p:23-31 Template-Type: ReDIF-Article 1.0 Author-Name: Stoyu I. Ivanov Title: PERFORMANCE ANALYSIS OF BANKS HEADQUARTERED IN HOLLYWOOD VERSUS SILICON VALLEY Abstract: In this study we examine the performance of banks headquartered in Hollywood and banks headquartered in Silicon Valley in the period - first quarter 2008 until second quarter 2012, which includes the period of the Great Recession, December 2007 to June 2009. We find that during the financial crisis both Silicon Valley and Hollywood banks suffered but Silicon Valley banks much less than Hollywood banks. After the recession, banks in both regions improved performance again Silicon Valley banks recovering faster. We also find that the level of deposits, the leverage ratio and total loan chargeoffs consistently play a role in the performance of banks. Classification-JEL: G20, G21 Keywords: Bank Performance, Hollywood Banks, Silicon Valley Banks, Financial Crisis Journal: Global Journal of Business Research Pages: 33-43 Volume: 8 Issue: 2 Year: 2014 File-URL: http://www.theibfr2.com/RePEc/ibf/gjbres/gjbr-v8n2-2014/GJBR-V8N2-2014-4.pdf File-Format: Application/pdf Handle: RePEc:ibf:gjbres:v:8:y:2014:i:2:p:33-43 Template-Type: ReDIF-Article 1.0 Author-Name: Ting-Hsiang Tseng Title: THE IMPACT OF NEED FOR VARIETY ON COUNTRY IMAGE EFFECTS Abstract: This study applies the concept of product typicality to account for graded country images effects across products of a country on consumers’ purchase intention. Consumers need for variety impacts consumer purchase intentions when the perspective of product typicality is applied. A two-by-two between subjects experiment was conducted in Taiwan with 152 undergraduate students. The results of the experiment suggest that typical products of a country attract more purchase intention and possess more positive country images than atypical products. Moreover, consumers with a high need for variety exhibit lower purchase intention to products, especially to atypical products of a country, than consumers with low need for variety. However, consumer need for variety is independent of the evaluation of country images. Classification-JEL: M3 Keywords: Country-of-Origin, Product Typicality, Need for Variety Journal: Global Journal of Business Research Pages: 45-53 Volume: 8 Issue: 2 Year: 2014 File-URL: http://www.theibfr2.com/RePEc/ibf/gjbres/gjbr-v8n2-2014/GJBR-V8N2-2014-5.pdf File-Format: Application/pdf Handle: RePEc:ibf:gjbres:v:8:y:2014:i:2:p:45-53 Template-Type: ReDIF-Article 1.0 Author-Name: Han-Ching Huang Author-Name: Yong-Chern Su Author-Name: Yao-Hsuan Chang Title: DYNAMIC RETURN-ORDER IMBALANCE RELATIONSHIP RESPONSE TO LEVERAGED BUYOUT ANNOUNCEMENTS Abstract: Many researches indicate informed trading during Leveraged buy-out (LBO) processes. In this study, we examine intraday dynamic relations between order imbalance, volatility and stock returns. The dynamic relation between volatility and order imbalances by a time-varying GARCH model is insignificant, suggesting that market makers have a good ability to mitigate volatility of LBO firms on event dates. Our imbalance-based trading strategy earns a positive profit but cannot beat a buy-and-hold return. Classification-JEL: G14, G34 Keywords: Leveraged-buyout, Order Imbalance, Return, Volatility Journal: Global Journal of Business Research Pages: 55-63 Volume: 8 Issue: 2 Year: 2014 File-URL: http://www.theibfr2.com/RePEc/ibf/gjbres/gjbr-v8n2-2014/GJBR-V8N2-2014-6.pdf File-Format: Application/pdf Handle: RePEc:ibf:gjbres:v:8:y:2014:i:2:p:55-63 Template-Type: ReDIF-Article 1.0 Author-Name: Jorge A. Restrepo Author-Name: Jairo Angel Díaz Author-Name: Juan Esteban Ocampo Title: OPERATIONAL RISK ANALYSIS OF INDUSTRIAL SMALL AND MEDIUM ENTERPRISES Abstract: This paper develops a quantitative analysis of operative risk. We model the volatilities of major financial indices Chemicals Industry for the period 2000-2009. The model uses an Analytical Hierarchy Process (AHP), a multicriterio technique, to identifying the weight of major financial indices: profitability, indebtedness, liquidity, efficiency and viability. Next, we set up an operative risk measure capturing the whole Industry indices. It becomes the risk measurement benchmark to settle level business risk by a membership function which qualitatively sorts as severe, moderate or low. The model uses time series analysis to predict industry ratios. We use a linear programming model and choose the method that produces the minimum forecast error. Last, we project ratios and their volatility. We use business information issued by the Annual Manufacturing Survey 2010, and information of the 5000 Money Magazine companies. Classification-JEL: C61, C32, D81 Keywords: Operational Risk, Modeling, AHP, Time Series Journal: Global Journal of Business Research Pages: 65-80 Volume: 8 Issue: 2 Year: 2014 File-URL: http://www.theibfr2.com/RePEc/ibf/gjbres/gjbr-v8n2-2014/GJBR-V8N2-2014-7.pdf File-Format: Application/pdf Handle: RePEc:ibf:gjbres:v:8:y:2014:i:2:p:65-80 Template-Type: ReDIF-Article 1.0 Author-Name: Samuel Yaw Akomea Author-Name: Olav Jull Sørensen Author-Name: Kweku Amponsah-Efah Title: EXPORT DRIVERS AND BARRIERS: EVIDENCE FROM GHANAIAN PHARMACEUTICAL MANUFACTURING FIRMS Abstract: The study is an exploratory study on the state of exports within the Ghanaian pharmaceutical manufacturing industry. Data was obtained from interviews of key managers involved in strategy formulation of 5 exporting pharmaceutical manufacturing companies in Ghana. The study revealed that out of 41 pharmaceutical manufacturing companies in Ghana, only 10 exported their products. Each respondent company indicated exporting less than 20% of total production output mainly to other West African countries. The most important reasons for exporting were to expand markets for their products to fulfil their vision of becoming global, to obtain foreign exchange and to achieve economies of scale. Major barriers faced were multiple product registrations across the West African Region. The companies hoped for more incentives from the Ghana government in the form of tax breaks and lower utility costs to allow expansion of export activities. Classification-JEL: F18, F01, F14, L65, M16, M31, K23 Keywords: Export Barriers, Pharmaceutical, Export Destination, Competition, Certification Journal: Global Journal of Business Research Pages: 81-96 Volume: 8 Issue: 2 Year: 2014 File-URL: http://www.theibfr2.com/RePEc/ibf/gjbres/gjbr-v8n2-2014/GJBR-V8N2-2014-8.pdf File-Format: Application/pdf Handle: RePEc:ibf:gjbres:v:8:y:2014:i:2:p:81-96 Template-Type: ReDIF-Article 1.0 Author-Name: Daniel Odongo Oronje Author-Name: Charles M. Rambo Author-Name: Paul A. Odundo Title: COMMUNITY AWARENESS, PARTICIPATION AND PERCEPTIONS ABOUT THE ROAD MAINTENANCE LEVY FUND PROJECTS IN KENYA Abstract: The Government has decentralized about 16% of the Road Maintenance Levy Fund to constituencies to maintain feeder roads. Decentralization of the fund creates opportunity for communities to participate in road maintenance, thus, improve transparency, accountability, ownership and sustainability. Although the Fund had operated for nearly two decades, no study had ever assessed the level of community awareness, participation and perceptions regarding project completion rates. We applied the crosssectional survey design to source information from 298 community leaders and motorists. Out of 298 respondents, 102 (34.2%) were aware of the Fund, of which only 43 (42.2%) had participated in maintenance projects. Besides, only 34 (33.3%) respondents were positive about project completion rate, the majority, 68 (66.7%) indicated negative opinions. Inconsistent flow of funds (82.4%), political interference (71.6%) and delay in auditing (39.2%) were among the factors affecting project completion rates. Among other aspects, the study recommends the need to sensitize the public about RMLF to improve awareness and participation; secure a hotline number to improve reporting; publicize annual work plans, budgets and expenditure reports for validation by the public; introduce electronic transfer of funds to agency accounts; develop rules, regulations and procedures to safeguard agencies from political interference. Classification-JEL: 016 Keywords: Community Awareness, Community Participation, Road Maintenance Levy Fund, Road Completion Rate, Kenya Roads Board Journal: Global Journal of Business Research Pages: 97-109 Volume: 8 Issue: 2 Year: 2014 File-URL: http://www.theibfr2.com/RePEc/ibf/gjbres/gjbr-v8n2-2014/GJBR-V8N2-2014-9.pdf File-Format: Application/pdf Handle: RePEc:ibf:gjbres:v:8:y:2014:i:2:p:97-109 Template-Type: ReDIF-Article 1.0 Author-Name: Chun-Ming Chien Author-Name: Cheng-Yih Hong Author-Name: Jian-Fa Li Title: SPILLOVER EFFECTS OF TOURISM POLICYCHANGES ON HOSPITALITY INDUSTRIES Abstract: This study aimed at using the industry-related spillover model to examine the spillover effects of the change in tourism policy and employed the induced employment model and the gross-induced added value model to measure the employment income, gross added value, and employment creation. Our results showed evidence that the consumption of Chinese tourists visiting Taiwan has brought a substantial impact on the hospitality and restaurant industries. In addition, the economy of scale created in the restaurant industry was smaller than that in the hospitality industry, since Chinese tourists allocated less expenditure for food. However, the spillover effects in the restaurant industry were larger than that in the hospitality industry. Classification-JEL: C67, D57 Keywords: Change in Tourism Policy, Employment, Added Value, Spillover Effect Journal: Global Journal of Business Research Pages: 111-124 Volume: 8 Issue: 2 Year: 2014 File-URL: http://www.theibfr2.com/RePEc/ibf/gjbres/gjbr-v8n2-2014/GJBR-V8N2-2014-10.pdf File-Format: Application/pdf Handle: RePEc:ibf:gjbres:v:8:y:2014:i:2:p:111-124