Template-Type: ReDIF-Article 1.0 Author-Name: John R. Ledgerwood Author-Name: Stephen N. Morgan Title: PROBLEMS OF MAINTAINING ADEQUATE ACCOUNTING RECORDS FOR A NON-PROFIT ORGANIZATION IN SUB-SAHARAN AFRICA Abstract: This paper looks at the accounting challenges faced by a small-scale non-profit organization operating in sub-Saharan Africa. We will look at the case of Enright Flight Ministries, Inc. a 501(c)3 non-profit organization based in Florida that carries out evangelical and humanitarian aid projects in Zambia. Building upon field interviews with administrative staff and project managers, we analyze the various problems facing the organization in maintaining adequate accounting records. After looking at both external and internal problems, we investigate the solutions employed by Enright Flight Ministries to maintain the integrity of accounting systems to derive best practices for the small-scale international nonprofit organization. Classification-JEL: M41, M42 Keywords: Accounting Records, Non-profit, Statements Journal: Review of Business and Finance Studies Pages: 1-8 Volume: 3 Issue: 2 Year: 2012 File-URL: http://www.theibfr2.com/RePEc/ibf/rbfstu/rbfs-v3n2-2012/RBFS-V3N2-2012-1.pdf File-Format: Application/pdf Handle: RePEc:ibf:rbfstu:v:3:y:2012:i:2:p:1-8 Template-Type: ReDIF-Article 1.0 Author-Name: I Putu Sugiartha Sanjaya Title: THE EMPLOYEE STOCK OWNERSHIP PROGRAM PHENOMENA: EVIDENCE FROM INDONESIA Abstract: The objective of this study is to explain the employee stock ownership program phenomenon in public companies in Indonesia. The ownership of companies in Indonesia is concentrated by a single controlling shareholder. Sometimes, the board of directors and board of commissioners of a company or his/her family are the controlling shareholders. This study is interested in describing the employment stock option program phenomenon. This study collects data from the Indonesian Stock Exchange database of companies conducting employee stock ownership programs. There were 45 companies conducting this tye of program between 1999 and 2011. In 2011, the number of public companies listed on the Indonesian Stock Exchange was 451. This implies that about 9.97 percent of public companies conduct such a program. Why is it then, that more companies do not use this program? Almost 33.56% of public company directors in Indonesia are the family of the controlling shareholder. Therefore, he/she feels that this program will not have any impact on the manager because the manager has the same interest as the controlling shareholder. Thus, the program is not attractive in Indonesia as a way to reduce the agency problem between shareholders and manager. It is only relevant for public companies with dispersed ownership. Classification-JEL: M41; G32 Keywords: Employee Stock Ownership Program, Corporate Ownership, Concentrated, Dispersed Journal: Review of Business and Finance Studies Pages: 9-20 Volume: 3 Issue: 2 Year: 2012 File-URL: http://www.theibfr2.com/RePEc/ibf/rbfstu/rbfs-v3n2-2012/RBFS-V3N2-2012-2.pdf File-Format: Application/pdf Handle: RePEc:ibf:rbfstu:v:3:y:2012:i:2:p:9-20 Template-Type: ReDIF-Article 1.0 Author-Name: Bernard Morard Author-Name: Alexandru Stancu Author-Name: Christophe Jeannette Title: THE RELATIONSHIP BETWEEN STRUCTURAL EQUATION MODELING AND BALANCED SCORECARD: EVIDENCE FROM A SWISS NON PROFIT ORGANIZATION Abstract:This paper studies the relationship between structural equation modeling and Balanced Scorecard in a Swiss non-profit establishment. Using financial and non-financial performance indicators collected directly from the organization, the paper proposes a rational construction and analysis of Balanced Scorecard by selecting the factual metrics for the right strategic areas. This choice is made by applying a sequence of Partial Least Squares in the proposed model. Furthermore, the approach establishes the cause-and-effect sequence originally defined by Kaplan and Norton as: the measures of organizational learning and growth will influence the measures of internal business processes, which, sequentially, will impact the measures of the customer perspective that, lastly, will affect the financial indicators. It will be noted that the Kaplan and Norton model of Balanced Scorecard is different from the findings in this study, a case somehow too general to handle today’s complex market environment. Following this, the paper puts forward a time-managed approach to identify the evolution of the main contributors to the current company’s strategy as well as their behavior in the future organizational performance. This approach will be applied and demonstrated in a detailed real case of a Swiss non-profit organization. Classification-JEL: G39, M19, M40, L31 Keywords: Balanced Scorecard, Key Performance Indicators, Performance Measurement, Structural Equation Modeling (SEM), Partial Least Squares (PLS), Principal Component Analysis (PCA), Non-profit Organization Journal: Review of Business and Finance Studies Pages: 21-37 Volume: 3 Issue: 2 Year: 2012 File-URL: http://www.theibfr2.com/RePEc/ibf/rbfstu/rbfs-v3n2-2012/RBFS-V3N2-2012-3.pdf File-Format: Application/pdf Handle: RePEc:ibf:rbfstu:v:3:y:2012:i:2:p:21-37 Template-Type: ReDIF-Article 1.0 Author-Name: Mohammed Al-Habib Title: ESTABLISHING STRATEGIC SALES ORGANIZATIONS IN EMERGING MARKETS: THE CASE OF SAUDI ARABIA Abstract: This paper focuses on examining the sales force transformation process through the sales-marketing interface theory using Saudi Arabia as a case study. The study’s results show context-specific challenges posed by organizational hierarchy, roles and responsibilities of sales and marketing personnel, and managerial competencies to this process. We suggest that since firms in emerging markets may lack welldeveloped marketing and sales apparatuses, the transformation process may turn into a two-step process that requires changing sales and marketing’s roles and responsibilities. Classification-JEL: M16, M31 Keywords: Sales, Transformation, Saudi Arabia, Interface Journal: Review of Business and Finance Studies Pages: 39-44 Volume: 3 Issue: 2 Year: 2012 File-URL: http://www.theibfr2.com/RePEc/ibf/rbfstu/rbfs-v3n2-2012/RBFS-V3N2-2012-4.pdf File-Format: Application/pdf Handle: RePEc:ibf:rbfstu:v:3:y:2012:i:2:p:39-44 Template-Type: ReDIF-Article 1.0 Author-Name: Gregory W. Goussak Author-Name: Jon K. Webber Author-Name: Elliot M. Ser Title: A CRITICAL NEEDS PLAN FOR GENERAL MOTORS: A CULTURAL PLURALISM APPROACH Abstract: The purpose of this paper is to create a critical needs plan for General Motors Corporation in the 21st century. General Motors (GM), once the most dominant manufacturer in the automotive industry, finds itself in financial crisis with a Chapter 11 bankruptcy and a necessary government infusion of capital. The foundation of this paper applies the Supportive Model as an effective strategy for creating a new corporate culture and focusing GM as a competitive manufacturer in the global automotive industry. The basis of this critical needs plan focuses on more than managerial or financial influence, but a cultural change including corporate ethics, corporate social responsibility and a critical thought approach to operating in the 21st century. Classification-JEL: M1 Keywords: Leadership, Cultural Pluralism, Organizational Behavior Journal: Review of Business and Finance Studies Pages: 45-53 Volume: 3 Issue: 2 Year: 2012 File-URL: http://www.theibfr2.com/RePEc/ibf/rbfstu/rbfs-v3n2-2012/RBFS-V3N2-2012-5.pdf File-Format: Application/pdf Handle: RePEc:ibf:rbfstu:v:3:y:2012:i:2:p:45-53 Template-Type: ReDIF-Article 1.0 Author-Name: Caryn Coatney Title: SUCCESSFUL MEDIA STRATEGIES FOR BUSINESS: HOW FRANKLIN DELANO ROOSEVELT AND JOHN CURTIN WON JOURNALISTS’ SUPPORT© Abstract: At the height of the Pacific war, the American and Australian leaders communicated successfully with journalists, providing valuable business strategies on how to develop positive media relations in crises. After the bombing of Pearl Harbor, Hawaii, in December 1941, the United States President, Franklin D. Roosevelt, and Australian Prime Minister, John Curtin, generated favorable news coverage about their leadership. Yet there is a lack of information on their media strategies to win journalists’ support in a time of crisis. This paper shows how Roosevelt and Curtin managed to influence and persuade the news media. First, they frequently communicated to journalists in an honest, egalitarian and friendly way, increasing the number of regular news briefings between the press and the national leader. Secondly, they advanced the relatively new medium of radio to broadcast appealing, inclusive and accessible messages. Journalists repeated and amplified their radio talks in the news. Thirdly, they used practiced, forceful rhetoric and hand gestures in filmed newsreel scenes to convey their resolve and create the appearance of a direct, friendly relationship with their target audiences. These media strategies are still useful to business leaders when managing information needs in today’s 24-hour news cycle.© Classification-JEL: D83 Keywords: Franklin D. Roosevelt; John Curtin; Business Communication; Media Strategies. Journal: Review of Business and Finance Studies Pages: 55-67 Volume: 3 Issue: 2 Year: 2012 File-URL: http://www.theibfr2.com/RePEc/ibf/rbfstu/rbfs-v3n2-2012/RBFS-V3N2-2012-6.pdf File-Format: Application/pdf Handle: RePEc:ibf:rbfstu:v:3:y:2012:i:2:p:55-67 Template-Type: ReDIF-Article 1.0 Author-Name: Narendra Ramgulam Author-Name: Koshina Raghunandan-Mohammed Author-Name: Moolchand Raghunandan Title: AN EXAMINATION OF THE ECONOMIC VIABILITY OF SUSTAINABLE BUSINESS TOURISM IN TRINIDAD Abstract: The aim of this paper is to provide an understanding of business tourism and how it adds to sustainability and fosters economic development for countries. The paper will discuss the concept of business tourism and how it can become economically sustainable. It examines the viability of business tourism in Trinidad and makes recommendations for the future of this niche market. Furthermore, a brief assessment of the United Kingdom’s business tourism industry will be presented and its policies to determine what, if any, refinements of the UK’s strategies can be made to accommodate Trinidad’s unique situation in the quest for sustainable business tourism. The research has revealed that business tourism is economically viable and should be pursued as a micro sector for diversifying the Trinidad and Tobago economy. The findings also embrace the notion of sustainability as a way forward. Classification-JEL: O10 Keywords: Business Tourism; Sustainable Tourism Development; Butler’s (1980) TALC Model; Meetings, Incentives, Conventions and Events (MICE); Economic Sustainability; Trinidad. Journal: Review of Business and Finance Studies Pages: 69-80 Volume: 3 Issue: 2 Year: 2012 File-URL: http://www.theibfr2.com/RePEc/ibf/rbfstu/rbfs-v3n2-2012/RBFS-V3N2-2012-7.pdf File-Format: Application/pdf Handle: RePEc:ibf:rbfstu:v:3:y:2012:i:2:p:69-80 Template-Type: ReDIF-Article 1.0 Author-Name: Ionica Oncioiu Author-Name: Florin Razvan Oncioiu Author-Name: Daniela Simona Nenciu Title: CONVERGENCES AND DIVERGENCES RELATED TO FAIR VALUE Abstract: Many authors present the advantages of fair value accounting, but others contest this concept, because of its volatility and subjective tendency of the models used for the evaluation. The advantages of fair value include utility, relevance, transparency and superior accuracy of the results, provides more clarity to the financial statements, it provides a total accounting of the comparable value and it gives more liability to the manager. However, critics of fair value accounting do not provide credible alternatives. Do we go back to historical cost accounting, wherein the financial assets are stated at outdated values and hence are not relevant or reliable? In the current crisis, a question is: Should assets be marked down to their current throw away prices, as companies may not want to sell them at those values?This paper analyses this question, and various controversial issues related to the concept of fair value as it is currently presented by IASB and FASB. Classification-JEL: L26 Keywords: Fair Value, Standards, Accounting, Assets, Liabilities. Journal: Review of Business and Finance Studies Pages: 81-88 Volume: 3 Issue: 2 Year: 2012 File-URL: http://www.theibfr2.com/RePEc/ibf/rbfstu/rbfs-v3n2-2012/RBFS-V3N2-2012-8.pdf File-Format: Application/pdf Handle: RePEc:ibf:rbfstu:v:3:y:2012:i:2:p:81-88 Template-Type: ReDIF-Article 1.0 Author-Name:Fariza Hashim Title: OUTWARD INTERNATIONALIZATION AND FDI: MOTIVES FOR MALAYSIAN MNES MOVING INTO CHINA Abstract: Firms are pressured to operate globally to reap the benefits of other locations through foreign investment. This phenomenon occurs not only among multinational enterprises from developed countries but also younger multinational enterprises from developing countries. Various factors induce them to invest in foreign locations. This paper highlights the motives of multinationals from developing countries engaging in foreign locations and capitalizing on location to enhance their competitiveness. This study uses one Malaysian company’s experiences to analyze the situation through a qualitative analysis. The results show that intense competition in the domestic and global market has forced firms to move out of their home country and relocate their production centers in China. China offers various factors that entice Malaysian MNEs to escalate their global expansion. Classification-JEL: F2, F21, F23 Keywords: International Factor Movement, International Investment, Multinational Firms, International Business Journal: Review of Business and Finance Studies Pages: 89-102 Volume: 3 Issue: 2 Year: 2012 File-URL: http://www.theibfr2.com/RePEc/ibf/rbfstu/rbfs-v3n2-2012/RBFS-V3N2-2012-9.pdf File-Format: Application/pdf Handle: RePEc:ibf:rbfstu:v:3:y:2012:i:2:p:69-102 Template-Type: ReDIF-Article 1.0 Author-Name: Paulin Houanye Author-Name: Sibao Shen Title: FOREIGN DIRECT INVESTMENT IN AFRICA: SECURING CHINESE INVESTMENT FOR LASTING DEVELOPMENT, THE CASE OF WEST AFRICA Abstract: At the end of the 20th century, when investors were actively seeking a favorable and secure place for their capital investment, the African continent rarely crossed their minds. Recent misgivings experienced by financial markets around the world and the increased demand of natural supplies forced investors to focus on Africa. This circumstance, for over a decade, has put all Africa, including both developed and industrialized countries in an embarrassing position with very low foreign investment. It is not possible to discuss Africa’s development without referring to the current Chinese investment in Africa. In the past twenty years, China’s interest in Africa has grown significantly. This has simultaneously aroused intense debates within the international community because it has the ambition to set up long-term partnerships with African countries. This new state of affairs will inevitably create legal protection problems for the interests of each party. This article examined the impact of China’s investment on African countries development. We examine how Chinese investors face challenges in Africa and what legal protection the host country provides to the investors to secure their profit and at the same time protect their own interest. Classification-JEL: F21, K33, P33 Keywords: Foreign Direct Investment, Foreign Protection of International Investment, Developing Countries and Regional Integration Journal: Review of Business and Finance Studies Pages: 103-117 Volume: 3 Issue: 2 Year: 2012 File-URL: http://www.theibfr2.com/RePEc/ibf/rbfstu/rbfs-v3n2-2012/RBFS-V3N2-2012-10.pdf File-Format: Application/pdf Handle: RePEc:ibf:rbfstu:v:3:y:2012:i:2:p:103-117