Template-Type: ReDIF-Article 1.0 Author-Name: William E. Bealing Author-Name: Edward Pitingolo Title: SAME SONG, SAME DANCE: EVIDENCE OF PATTERNS IN SECURITIES AND EXCHANGE COMMISSION FUNDING Abstract: The actions of Congress and the Securities and Exchange Commission subsequent to a financial crisis appear to follow a predictable set of steps. Each tries to position itself to gain the resources it needs to survive by couching its actions in terms of legitimacy. One outcome is a predictable dance that culminates with the annual funding process. The events surrounding the financial collapse of Lehman Brothers and the resulting scrutiny of the Securities and Exchange Commission are hardly unique. In fact, they appear to be the predictable result of a period of boom and bust. These predictions are based on the historical behavior of politicians in funding the Commission. This paper uses an institutional theory perspective to examine the funding patterns in the wake of the collapse of Enron in 2001 and the global financial crisis precipitated by the collapse of Lehman Brothers in 2008. Implications for the Securities and Exchange Commission are provided. Classification-JEL: M41, M48, M49 Keywords: SEC, Institutional Theory, Regulation Journal: Review of Business and Finance Studies Pages: 1-10 Volume: 6 Issue: 2 Year: 2015 File-URL: http://www.theibfr2.com/RePEc/ibf/rbfstu/rbfs-v6n2-2015/RBFS-V6N2-2015-1.pdf File-Format: Application/pdf Handle: RePEc:ibf:rbfstu:v:6:y:2015:i:2:p:1-10 Template-Type: ReDIF-Article 1.0 Author-Name: Ya-Hui Wang Title: DOES INTERNET INFORMATION INFLUENCE FUND INVESTORS’ PURCHASE INTENTION? Abstract: The Internet is now one of the most popular channels for investors to acquire investment related information. It raises a question: Will Internet information richness increases mutual fund investors’ perceived quality and decreases their perceived risk, which in turn influences investors’ perceived value and purchase intention? This paper investigate the relationships between Internet information richness, perceived quality, perceived risk, perceived value, and purchase intention through a questionnaire format. Results of his study can provide a reference for Internet information providers and mutual fund investors. Limitations and suggestions for future research are also provided. Classification-JEL: G1, M1, M5 Keywords: Information Richness, Perceived Quality, Perceived Risk, Perceived Value, Purchase Intention Journal: Review of Business and Finance Studies Pages: 11-19 Volume: 6 Issue: 2 Year: 2015 File-URL: http://www.theibfr2.com/RePEc/ibf/rbfstu/rbfs-v6n2-2015/RBFS-V6N2-2015-2.pdf File-Format: Application/pdf Handle: RePEc:ibf:rbfstu:v:6:y:2015:i:2:p:11-19 Template-Type: ReDIF-Article 1.0 Author-Name: Luding Tong Title: THE YOUNG AND THE RESTLESS: GRAPPLING WITH THE YOUNG CHINESE CONSUMER MINDSET Abstract: China will boast a population of almost 500-million young people under age 30 by 2015. The sheer size of the Chinese youth market and young people’s discretionary income make this market one of the most sought-after in the world. The status and continuing development of Chinese youth culture is especially interesting to marketers and scholars worldwide. Recent media reports depict Chinese youth as restless and as experiencing an internal psychological conflict between private selves and public selves, between private identity and public identity(Griffiths, 2012). Few studies have provided analysis of the causes of this seemingly bi-polar psychological state. The paper explores this situation by delving into the core values of Chinese tradition in the context of China’s contemporary socioeconomic realities—focusing on the paradoxical, conflicting, and even opposing cultural values that are rooted in China’s past and present. Among the dilemmas are standing out and fitting in, individual freedom and society’s demands, and “soaring aspirations and limited opportunities. This paper demonstrates that the restlessness of contemporary Chinese youth is the logical results of feeling trapped and directionless at the seismic boundaries between the culture’s unshakable Confucian values and group orientation, and the ever-shifting trends in individual consumerism that China is embracing. Classification-JEL: M31, M37, M38 Keywords: China, Advertising, Global Marketing, Youth Culture Journal: Review of Business and Finance Studies Pages: 21-33 Volume: 6 Issue: 2 Year: 2015 File-URL: http://www.theibfr2.com/RePEc/ibf/rbfstu/rbfs-v6n2-2015/RBFS-V6N2-2015-3.pdf File-Format: Application/pdf Handle: RePEc:ibf:rbfstu:v:6:y:2015:i:2:p:21-33 Template-Type: ReDIF-Article 1.0 Author-Name: Kalpana Pai Author-Name: Thomas D. Tolleson Title: INDIA’S SATYAM SCANDAL: EVIDENCE THE TOO LARGE TO INDICT MINDSET OF ACCOUNTING REGULATORS IS A GLOBAL PHENOMENON Abstract: This paper examines the capture of government regulators using the case of Satyam Computer Services Ltd., one of India’s largest software and services companies, which disclosed a $1.47 billion fraud on its balance sheet on January 7, 2009. The firm, which traded on the New York and Bombay Stock Exchanges, was required to file financial reports with the SEC. Price Waterhouse of India, the local member of PricewaterhouseCoopers (PWC), served as its auditor. After news of the scandal hit the airwaves, Price Waterhouse of India issued a press release and stated that its audit was conducted in accordance with applicable auditing standards and was supported by sufficient audit evidence. Because Satyam shares were quoted on Wall Street, SEC rules prohibited auditors from having business relations with their clients. U.S. regulators failed to take action against PWC. Is this lack of enforcement related to PWC’s size and the impact that the failure of a Big 4 firm would have on the global financial marketplace? We question whether government regulators have been captured by the key market players in the auditing services market. One outcome of this capture is moral hazard, which implies that the Big 4 accounting firms, or their local affiliates, may place less emphasis on quality audits. Such an approach to the audit function places the selfinterests of the audit firm above the public interest. We also question whether foreign companies that are listed on US Stock Exchanges fall under the purview of US Laws and if these companies and their auditors face the same regulatory scrutiny as publicly-traded US Corporations. In addition, the paper provides suggestions to protect the public interest while citing lessons learned from this scandal. Classification-JEL: M42, M48, M41 Keywords: Auditing, Capture Theory, Accounting Regulation Journal: Review of Business and Finance Studies Pages: 35-43 Volume: 6 Issue: 2 Year: 2015 File-URL: http://www.theibfr2.com/RePEc/ibf/rbfstu/rbfs-v6n2-2015/RBFS-V6N2-2015-4.pdf File-Format: Application/pdf Handle: RePEc:ibf:rbfstu:v:6:y:2015:i:2:p:35-43 Template-Type: ReDIF-Article 1.0 Author-Name: Onder Kaymaz Author-Name: Ozgur Kaymaz Title: PROFIT RETURN IN CIVIL AVIATION AND FLEET INSURANCE: GAAP, FINANCIAL REPORTING AND TAX APPLICATIONS Abstract: In the civil aviation market, unique insurance types are available. This market encompasses a small number of insurers who have the capacity to insure large fleet portfolios. Profit return is the portion of the insurance premium returned to the insured depending on the insurance contract. This paper examines the concept of profit return as used by civil aviation companies along with the scrutiny of accounting and tax applications implemented by Turkish civil aviation companies regarding aviation insurance premia. This work has particular implications on International Accounting Standards, Generally Accepted Accounting Principles (GAAPs) and Financial Reporting for a particular setting. Classification-JEL: M40, M41, M48, M49 Keywords: Recognition, Disclosure, International Accounting Standards (IASs), International Financial Reporting Standards (IFRSs), Financial Reporting, Civil Aviation, Profit Return Journal: Review of Business and Finance Studies Pages: 45-57 Volume: 6 Issue: 2 Year: 2015 File-URL: http://www.theibfr2.com/RePEc/ibf/rbfstu/rbfs-v6n2-2015/RBFS-V6N2-2015-5.pdf File-Format: Application/pdf Handle: RePEc:ibf:rbfstu:v:6:y:2015:i:2:p:45-57 Template-Type: ReDIF-Article 1.0 Author-Name: Amine Bouyoucef Author-Name: Sulin Chung Title: THE INTERNATIONALIZATION OF CHINESE MULTINATIONALS IN THE MIDDLE EAST AND AFRICA: THE CASE OF HAIER Abstract: This article investigates the internationalization strategy of the Chinese firm Haier in Africa and the Middle East and addresses strategic implications in Haier’s successful entry strategies in these difficult regions. It also draws some useful lessons for the industry incumbents willing to enter these markets. A case study approach of Haier in Africa and the Middle East with an emphasize on the Algerian market is used to shed more light on the striking internationalization patterns of the firm’s entry strategy in these developing regions of the globe. The results of this study suggest that, despite the hardship associated with doing business in Africa and the Middle East, Haier unlike its incumbent peers from developed nations and given its international entrepreneurship mindset, political and market acquaintances with these developing nations, seems to follow (1) an accelerated and early internationalization, (2) a dual-entry mode − entry simultaneously in developed and developing countries − and (3) an increased commitment and localization toward these markets. Classification-JEL: M160 Keywords: Internationalization, Haier, China, Africa, The Middle East, Algeria, Emerging Markets MNEs Journal: Review of Business and Finance Studies Pages: 59-74 Volume: 6 Issue: 2 Year: 2015 File-URL: http://www.theibfr2.com/RePEc/ibf/rbfstu/rbfs-v6n2-2015/RBFS-V6N2-2015-6.pdf File-Format: Application/pdf Handle: RePEc:ibf:rbfstu:v:6:y:2015:i:2:p:59-74 Template-Type: ReDIF-Article 1.0 Author-Name: Luke Miller Author-Name: Jennifer W. Kelber Title: USING OPTIONS PRICING THEORY TO VALUE SAFETY & ERGONOMICS PROJECTS: A CASE STUDY Abstract: This paper applies option pricing theory to value an investment in safety & ergonomics. Utilizing both traditional and perpetual call option frameworks, we quantify project value overlooked by traditional discounted cash flow techniques. In a case study format, it is shown that delaying investment allows the firm to reduce uncertainty associated with safety & ergonomic interventions; with increased costs of delaying encouraging speedier implementation. Classification-JEL: G30, G31, G32, G39 Keywords: Capital Budgeting, Options Pricing, Case Study Journal: Review of Business and Finance Studies Pages: 75-84 Volume: 6 Issue: 2 Year: 2015 File-URL: http://www.theibfr2.com/RePEc/ibf/rbfstu/rbfs-v6n2-2015/RBFS-V6N2-2015-7.pdf File-Format: Application/pdf Handle: RePEc:ibf:rbfstu:v:6:y:2015:i:2:p:75-84 Template-Type: ReDIF-Article 1.0 Author-Name: Varqa Shamsi Bahar Author-Name: Khan Muhammad Saqiful Alam Author-Name: Iftekhar Mahfuz Author-Name: Towhid Khan Title: UTILIZATION OF VALUE STREAM ANALYSIS TO IMPLEMENT REDEFINED VALUE: A SOCIAL BUSINESS PERSPECTIVE Abstract: The premise of value focuses on the customer while the integration of social and environmental value along with customer value holistically is missing. This paper redefines the conceptualization of value as a three dimensional construct encapsulating customer, social and environmental (CSE) value. Furthermore, in operations management, value stream analysis (VSA) has been utilized as an implementation tool of customer value only. However, this study addresses a gap in the literature by employing VSA as an implementation tool to execute the redefined CSE value in a social business setting. An exploratory research driven by semi-structured interview sessions with the employees of a social business in Bangladesh were conducted while embracing a qualitative research strategy to build new insights and theories. In consequence, this study offers strategic suggestions to existing social businesses as to how the redefined conceptualization of value can be implemented for the betterment of customer, society and environment. Classification-JEL: M00, M1 Keywords: Value Framework, Customer Value, Social Value, Environmental Value, Process Analysis, trategic Process Mapping Journal: Review of Business and Finance Studies Pages: 85-103 Volume: 6 Issue: 2 Year: 2015 File-URL: http://www.theibfr2.com/RePEc/ibf/rbfstu/rbfs-v6n2-2015/RBFS-V6N2-2015-8.pdf File-Format: Application/pdf Handle: RePEc:ibf:rbfstu:v:6:y:2015:i:2:p:85-103 Template-Type: ReDIF-Article 1.0 Author-Name: Vincent Aghara Author-Name: Ireneus Nwaizugbo Author-Name: Emmanuel Chukwuemeka Author-Name: Chinedu Onyeizugbe Title: CHANGING PERSPECTIVES OF POLITICS MARKETING IN NIGERIA Abstract: Politics marketing in recent years has attracted increasing attention from politicians all over the world, though not much from academia. Politics is about power and the distribution of scarce resources has created more politics marketing. For a third world economy like, Nigeria the challenges are enormous, and can play a major role on how good leaders can be elected and invariably, how scarce resources of the nation are distributed to achieve voter/consumer satisfaction and overall economic development. The paper looked at politics marketing from the perspective of more developed economies. The model of a market-oriented party thus involves: use of market intelligence; adaptation of behavior; organizational implementation; and conveyance of new behavior, and its implications for Nigeria. The paper also examined evolution and development of party politics in Nigeria. The political structure, with ethnic and religious slant, were handed over by the British Colonial masters, leading to instability, military intervention and an evolving political culture, after over 53 years of independence. The paper recommends an independent electoral body; an incorruptible judiciary; enlightened electorate and deregistering of mushroom political parties. Classification-JEL: L8, L89 Keywords: Politics, Marketing, Electorate, Market-Oriented Party, Democracy Journal: Review of Business and Finance Studies Pages: 105-115 Volume: 6 Issue: 2 Year: 2015 File-URL: http://www.theibfr2.com/RePEc/ibf/rbfstu/rbfs-v6n2-2015/RBFS-V6N2-2015-9.pdf File-Format: Application/pdf Handle: RePEc:ibf:rbfstu:v:6:y:2015:i:2:p:105-115