ORIGINAL_ARTICLE
Investigating the Relationship between Corporate Governance Characteristics and Financing Decisions
This paper investigates the relationship between the components of corporate governance structure including board characteristics, ownership structure, and financial leverage in the companies listed on Tehran Stock Exchange. The aim to this study is to examine the impact of board size, percent of non-executive directors, CEO-Chairman duality, percent of managerial ownership, institutional ownership, and governmental ownership on financial leverage of companies listed on Tehran Stock Exchange .In order to investigate research hypotheses, the data of 133 companies listed on Tehran Stock Exchange during the period of 2006 to 2014 has been investigated by implementing regression models based on panel data. In order to measure financial leverage, total debt ratio and the ratio of long-term debt to total assets were used. The results obtained from research indicate that there is a statistically significant and positive relationship between board size, the percentage of non-executive directors, and institutional ownership, CEO-Chairman duality and financial leverage; while, there is a significant and negative relationship between managerial ownership and financial leverage. Also, there is a significant and negative relation between long-term debt ratio and governmental ownership, while no significant relationship was found between total debt ratio and governmental ownership. Altogether, these findings prove the significant role of board characteristics and ownership structure on financing decisions made by firms.
https://www.ijmae.com/article_116562_3e867e4fdb5b4669ae0f3c8ed3dc5280.pdf
2016-11-01
650
663
Corporate Governance
board characteristics
Ownership structure
Financial Leverage
Zeinab
Azami
z.aazami@uk.ac.ir
1
Faculty member of Accounting, Baft Higher Education Center, Shahid Bahonar University of Kerman, Kerman, Iran
LEAD_AUTHOR
Abor., J. (2007). Corporate Governance and Financing Decisions of Ghanaian Listed Firms, Corporate Governance. International Journal of Business in Society, 7(1), 83- 92
1
Aljifri, K. & Moustafa, M. (2007), The Impact of Corporate governance Mechanisms on the Performance of UAE Firms: An Empirical Analysis. Journal of Economic and Administrative Sciences, 23(2), 71-93
2
Al-Najjar, B. & Taylor, P. (2008). The Relationship between Capital Structure, and Ownership Structure: New evidence from Jordanian panel data. Managerial Finance, 34(12), 919-933.
3
Arbor, G. (2008). Agency theoretic determinants of debt levels: evidence from Ghana. Review of Accounting and Finance, 7(2), 183-192
4
Arko, C.V. & Bokpin, G.A. (2009). Ownership structure, corporate governance and capital structure decisions of firms. Studies in Economics and Finance, 26(4), 246-256
5
Berger, B. G., Ofek E. & Yermack, D.L. (1997). Managerial Entrenchment, and Capital Structure Decisions. The Journal Of Finance, 52(4), 1411-1438
6
Chang Kuo, H., Huey Wang, L. & Wen Liu, H. (2012). Corporate Governance and Capital Structure: Evidence from Taiwan SMEs. Review of Economics and Finance, 2(1), 43-58
7
Deesomsak, R., Paudyal, K. & Pescetto, G. (2004). The Determinants of Capital Structure: Evidence from the Asian Pacific region, Journal of Multinational Financial Management, 14(4/5), 387-405
8
Denis, David J. & Mihov, Vassil T. (2003). The choice among bank debt, nonbank private debt, and public debt: Evidence from new corporate borrowings. Journal of Financial Economics, 70(1), 3-28
9
Ezeoha, A. E. and Okafor, F.O. (2009), Local corporate ownership and capital structure decisions in Nigeria: a developing country perspective. Corporate Governance, 10(3). 249-260
10
Fama, E. F. (1980). Agency problems and the theory of the firm. Journal of Political Economy, 88(2), 288-307
11
Fama, E.F. and Jensen, M. C. (1983). Separation of ownership and control. Journal of Law and Economics, 26(2), 301-325
12
Fama, Eugene F. and French, Kenneth R. (1993). Common risk factors in the returns on stocks and bond. Journal of Financial Economics, 32(1), 3-56
13
Friend, I. and Lang, Larry H. P. (1988). An Empirical Test of the Impact of Managerial Self-Interest on Corporate Capital Structure. The Journal of Finance, 43(2), 271–281
14
Ganiyu, Y.O. and Abiodun, B.Y. (2012). The impact of corporate governance on capital structure decision of Nigerian firms. Research Journal in Organizational Psychology and Educational Studies, 1(2), 121-128.
15
Grossman, S. and Hart, O. (1982). Corporate financial structure and managerial incentives, in John McCall, ed, The Economics of Information and Uncertainty,University of Chicago Press, Chicago, IL.
16
Harford, J., Kai, L. and Zhao, X. (2007). Corporate Boards and the Leverage and Debt Maturity Choices. International Journal of Corporate Governance, 1(1), 3-27
17
Hart, Oliver D. and Moore, J. (1995). Debt seniority: An analysis of the role of hard claims on constraining management. American Economic Review, 85(3), 567-585
18
Hasan, A. and Butt, S.A. (2009). Impact of Ownership Structure and Corporate Governance on Capital Structure of Pakistani Listed Companies. International Journal of Business and Management,4(2), 50-57
19
Heng, T., Azrbaijani, S. and Tze, O. (2012). Board of Directors and Capital Structure: Evidencefrom Leading Malaysian Companies. Asian Social Science,8(3), 123-136
20
Hermalin, B. E. and Weisback, M. S. (2003). Board of Directors as an Endogenously Determined Institution: A Survey of the Economic Literature, Center for Responsible Business. Working Paper Series.Paper 3
21
Huson, J., Mohd, A. and Nazrul, M. (2006). The Impact Of Ownership Structure On Corporate Debt Policy: Two Stage Least Square Simultaneous Model Approach For Post Crisis Period: Evidence From Kuala Lumpur Stock Exchange. International Business and Economics Research Journal,5(5), 51-64
22
Hussainey, K. and Aljifri, k. (2012). Corporate governance mechanisms and capital structure in UAE. Journal of Applied Accounting Research,13(2), 145-160
23
Jensen, M. C. (1986). Agency Costs of Free Cash Flow, Corporate Finance and Takeovers. American Economic Review,76(2), 323-329
24
Jensen, M.C. and Meckling, W.H. (1976). Theory of the Firm: Managerial Behaviour, Agency Costs and Capital Structures. Journal of Financial Economics, 3(4), 305-360
25
Kim, W.S. and Sorensen, E.H. (1986). Evidence on the Impact of the Agency Costs of Debt on Corporate Debt Policy. Journal Of Financial And Quantitative Analysis,21(2), 131-144
26
Lipton, M. and Lorsch, J. W. (1992). A Modest Proposal for Improved Corporate Governance.Business Lawyer, 48(1), 59-77
27
Liu, Q., Tian, G. and Wang, X. (2011). the effect of ownership structure on leverage decision: new evidence from Chinese listed firms. Journal of the Asia Pacific Economy, 16(2), 254-276
28
Mohamed G. A. and Khairy E. (2016). The Effect of Board Characteristics and Ownership Structure on the Corporate Financial Leverage. Accounting and Finance Research, 5(1), 1-14
29
Petra, S. T. (2005). Do outside independent directors strengthen corporate boards? Corporate Governance, The international journal of business in society, 5(1), 55 - 64
30
Rajan, R. and Winton, A. (1995). Covenants and collateral as incentives to monitor. Journal of Finance, 50(4), 1113-1146
31
Sheikh, N.A. and Wang, Z. (2012). Effects of corporate governance on capital structure: empirical evidence from Pakistan. Corporate Governance: The international journal of business in society, 12(5), 629 - 641
32
Stulz, Rene M. (1990). Managerial discretion and optimal financing policies. Journal of Financial Economics, 26(1), 3-27
33
Wellalage, N.H. and Locke, S. (2012). corporate governance and capital structure of Srilankian listed firms. Global Review of Business and Economic Research, 8(1), 157-169
34
Wen, Y., Rwegasira, K. and Bilderbeek, J. (2002). Corporate Governance and CapitalStructure Decisions of Chinese ListedFirms. Corporate Governance: AnInternational Review, 10(2), 75-83
35
Zuoping, X. (2009). Large shareholders, legal institution and capital structure decision Empirical evidence from Chinese listed companies. Nankai Business Review International, 1(1), 59-86
36
ORIGINAL_ARTICLE
Identification of Sources of Finance in Growing Companies Operating in Food Industry in Tehran
This research by identifying and classifying finance sources can largely contribute in releasing companies’ finance challenges and prevent bankruptcy. The paper first identified various finance sources following reviewing the finance and investment literature; then, final classification provided in term of what sources was more used in active food industries firms. Research statistical population consisted of senior executives of growing companies operating in food industry in Tehran. Research participants included 12 senior executives selected by convenience sampling method. Research methodology initially reviewed the literature and offered an elementary framework; then, it semi structurally interviewed managers, and finally analyzed findings through using Atlas software. Research findings show that finance is a critical success factor in firms; further, debt-based finance sources, capital-based, credits-based, entrepreneurial finance sources, and private sources are the most critical finance sources in order. Applying research findings causes forming a coherent finance thought in national food industries managers, it also paves the way for academic and scientific studies. If managers properly identify and utilize finance sources, finance source operations and fundraising may develop at national level.
https://www.ijmae.com/article_116563_0e6998008b9179463ca761d6c83bef09.pdf
2016-11-01
664
671
Financing
financing methods
Food Industry
development stage
Iran
Ali
Dehkordi
mobinidehkordi@yahoo.com
1
Faculty of Entrepreneurship, University of Tehran, Tehran, Iran
AUTHOR
Parisa
Fataei
pfataie@yahoo.com
2
Faculty of Entrepreneurship, University of Tehran, Tehran, Iran
LEAD_AUTHOR
Ahmad
Fataei
afataie58@yahoo.com
3
Department of Finance, Borujerd Branch, Islamic Azad University, Borujerd, Iran
AUTHOR
Balcaen, S., & Ooghe, H. (2006). 35 years of studies on business failure: an overview of the classic statistical methodologies and their related problems. The British Accounting Review, 38(1), 63-93.
1
Bigdelou, M. (2005). Entrepreneurs’ finance sources. M.A. thesis, Management faculty of Tehran University.
2
Bigdelou, M. (2005). Entrepreneurs’ finance sources. Tadbir journal, No. 161, October 2005.
3
Bosma, N. S. (2013). The global entrepreneurship monitor (GEM) and its impact on entrepreneurship research. 2013.
4
Ghasemkhani, B. (2009). Marketing and financing intersection. Tadbir quarterly, No. 206.
5
Inderst, R., & Mueller, H. M. (2009). Early-stage financing and firm growth in new industries. Journal of Financial Economics, 93(2), 276-291.
6
Kotler, P., Kartajaya, H., & Young, S. D. (2004). Attracting investors: a marketing approach to finding funds for your business. John Wiley & Sons.
7
Lou, D. (2014). Attracting investor attention through advertising. Review of Financial Studies, 23(10)
8
Muñoz-Leiva, F., Sánchez-Fernández, J., Liébana-Cabanillas, F. J., & López-Herrera, A. G. (2012). Applying an automatic approach for showing up the hidden themes in financial marketing research (1961–2010). Expert Systems with Applications, 39(12), 11055-11065.
9
Nasiri, M. (2011). Evaluating financing construction projects over municipalities. M.A. thesis, Faculty of management, University of Tehran.
10
Rahnamaye roud poshti, F. (2013). Financial marketing basics: position, significance, and necessity of its realization in theoretical approach-based financial management. Research quarterly of Investment knowledge, second year, Vol. 6.
11
Soudehi, M. (2011). Studying finance methods in automotive industry and its relation with profitability. M.A. thesis, Faculty of Management, University of Tehran.
12
ORIGINAL_ARTICLE
Effect of Transformational Leadership and Knowledge Management Processes on Organizational Innovation in Ardabil University of Medical Sciences
Uncertainty, complexity, globalization and increasing technological change are among the most important features of the current era. Success in such circumstances requires changes in activities, organizational tasks, the management especially the leadership of organizations, knowledge management and innovation. The aim of this study was to investigate the effect of transformational leadership and knowledge management on organizational innovation in Ardabil University of Medical Sciences. Standard questionnaire was used in order to collect data for all variables of the research. Statistic population of this research consisted of all managers, employees, and faculty members of Ardebil University of Medical Sciences of whom 277 subjects were selected based on Cochran formula and convenience sampling method. For data analysis, structural equation modeling and LISREL software were used. The [1]obtained results showed that transformational leadership has a positive effect on knowledge management and organizational innovation. Moreover, the impact of knowledge management on organizational innovation was shown to be positive. Finally, the mediating role of knowledge management was confirmed in the relationship between transformational leadership and organizational innovation
https://www.ijmae.com/article_116564_20a6d5f3a31e5321fe7811099fa24910.pdf
2016-11-01
672
698
Transformational Leadership
Knowledge Management
Organizational Innovation
Ardabil University of Medical Sciences
Bagher
Nouri
asgarnezhad.research@gmail.com
1
Assistant Professor of Business Administration, Department of Management and Economy, Faculty of Literature and Humanities, University of Mohaghegh Ardabili, Ardabil, Iran
LEAD_AUTHOR
Masoume
Mir Mousavi
m.moosavi_2013@ut.ac.ir
2
Master of Executive Management, Pardis Farabi, University of Tehran, Qom, Iran
AUTHOR
Milad
Soltani
soltani.milad@gmail.com
3
M.A. Student of MBA, School of Business Management, European University of Cyprus, Nicosia, Cyprus
AUTHOR
Aghaz, Asal (2005), Transformational Leadership and Organizational Culture (Case Study: Social Security Organization), Master's thesis, Tehran University.
1
Ahmadi-e-baladehi, Seyed Mehdi and Mirzaei-e-arabi, Mohamad Ali (2014), Evaluation of the relationship between knowledge management and employee creativity in Mazandaran province police force, Management Studies on police training, 7(1), 41-59.
2
Azizi, Ali and Rezazadeh, Arash (2014), Structural Equation Modeling by using PLS software, SID Press Organization.
3
Birasnav, M., Albufalasa, M., & Bader, Y. (2013). The role of transformational leadership and knowledge management processes on predicting product and process innovation: An empirical study developed in Kingdom of Bahrain. Tékhne, 11(2), 64-75.
4
Borghini, S. (2005). Organizational creativity: Breaking equilibrium and order to innovate. Journal of Knowledge Management, 9(4), 19-33.
5
Castiaux, A. (2007). Radical innovation in established organizations: Being a knowledge predator. Journal of Engineering and Technology management, 24(1), 36-52.
6
Choi, S. B., Kim, K., Ullah, S. E., & Kang, S. W. (2016). How transformational leadership facilitates innovative behavior of Korean workers: Examining mediating and moderating processes. Personnel Review, 45(3), 459-479.
7
Choupani, Heidar, Zare-khalili, Mojtaba, Ghasemi, Aghil and Gholamzadeh, Hojat (2012), Evaluation of the relationship between intellectual capital and organizational innovation, Case Study: Development Insurance Company, Journal of Ingenuity in the Humanities, 2(1), 27-58.
8
Dehghan, Reza, Talebi, Kambiz and Abolghasem, Arabiun (2011), A research concerning the factors affecting innovation and entrepreneurship at the University of Medical Sciences in Iran, Journal of Paramedical School of Tehran University of Medical Sciences, 6(1), 22-33.
9
Dunne, T. C., Aaron, J. R., McDowell, W. C., Urban, D. J., & Geho, P. R. (2016). The impact of leadership on small business innovativeness. Journal of Business Research.
10
Eagly, A. H., Johannesen-Schmidt, M. C., & Van Engen, M. L. (2003). Transformational, transactional, and laissez-faire leadership styles: a meta-analysis comparing women and men. Psychological bulletin, 129(4), 569.
11
Fischer, M. M., & Fröhlich, J. (Eds.). (2013). Knowledge, complexity and innovation systems. Springer Science & Business Media.
12
French, W. L. B., & Cecil, H. (1973). Organization development: behavioral science interventions for organization improvement (No. HD38 F69).
13
Ghanbari, A., & Abedzadeh, M. (2016). Relationship between transactional leadership and knowledge management. Journal of Fundamental and Applied Sciences, 8(3), 1388-1398.
14
Gumusluoglu, L., & Ilsev, A. (2009). Transformational leadership, creativity, and organizational innovation. Journal of business research, 62(4), 461-473.
15
Gumusluoglu, L., Karakitapoğlu-Aygün, Z., & Hirst, G. (2013). Transformational leadership and R&D workers' multiple commitments: Do justice and span of control matter? Journal of Business Research, 66(11), 2269-2278.
16
Hervas-Oliver, J. L., Sempere-Ripoll, F., & Arribas, I. (2015). Asymmetric modeling of organizational innovation. Journal of Business Research, 68(12), 2654-2662.
17
Javdani, M. (2011). A Study on the relationship between transformational and transactional leadership and organizational commitment of teachers. Journal of Foundations of Education( Studies in Education & Psychology).1(1),143-158.
18
Jimenez-Jimenez, D., Sanz Valle, R., & Hernandez-Espallardo, M. (2008). Fostering innovation: the role of market orientation and organizational learning. European Journal of innovation management, 11(3), 389-412.
19
Li, G., Shang, Y., Liu, H., & Xi, Y. (2014). Differentiated transformational leadership and knowledge sharing: A cross-level investigation. European Management Journal, 32(4), 554-563.
20
Li, V., Mitchell, R., & Boyle, B. (2016). The Divergent Effects of Transformational Leadership on Individual and Team Innovation. Group & Organization Management, 41(1), 66-97.
21
Liao, S. H., Fei, W. C., & Liu, C. T. (2008). Relationships between knowledge inertia, organizational learning and organization innovation. Technovation, 28(4), 183-195.
22
Mazlumi, Nader, Nasehi-fard, Vahid and Ehsanfar, Golshan (2013), Relationship between transformational leadership and organizational creativity and innovation in private companies in Iran, Insurance Journal, 28(1), 33-56.
23
Moriano, J. A., Molero, F., Topa, G., & Mangin, J. P. L. (2014). The influence of transformational leadership and organizational identification on intrapreneurship. International Entrepreneurship and Management Journal, 10(1), 103-119.
24
Muethel, M., & Hoegl, M. (2013). Shared leadership effectiveness in independent professional teams. European Management Journal, 31(4), 423-432.
25
Niazazari, Kiumars, Hassanzadeh, Ramezan and Akbari, Hakime-khatun (2010), Evaluation of the effect of transformational leadership and transactional leadership on teachers' work ethic, Journal of industrial / organizational psychology,1(2), 60-75.
26
Nourshahi, Nasrin (2009), Investigation of the relationship between leadership implications and dimensions of transformational leadership style among presidents of universities and higher education institutes in Tehran, Studies in Education and Psychology, 3(10), 163-176.
27
Nsiri-pour, Amir-ashkan, Helali-e-bonab, Mir Abolfazl and Reisi, Pooran (2007), Leadership style of the health network managers and performance indicators, Journal of Health Administration, 12 (36), pp. 17-24.
28
Parhizgar, Mohammad Mehdi (2013), Identification of the factors affecting organizational innovation based on open innovation paradigm, case study: country's publishing industry. Industrial Management Studies, 11 (31),101-125.
29
Politis, J. D. and Harkiolakis, N (2008),The relationship between self-managementleadership;transformationaland transactionalleadership and entrepreneurial orientation,in the proceedings of The 4th EuropeanConference on Management, Leadership andGovernance,157-166.
30
Rafferty, A. E., & Griffin, M. A. (2004). Dimensions of transformational leadership: Conceptual and empirical extensions. The leadership quarterly, 15(3), 329-354.
31
Sadeghi, Zeinab and Mohtashami Reza (2011), Relationship between strategic human resource practices and organizational innovation in one of the military centers, Journal of Military Medicine, 13(2), 97-102.
32
Sa'edi, Mehdi, Yazdani, Hamidreza (2009), Offering a process model for the implementation of knowledge management based on organizational learning in Iran Khodro: data-based theory. Journal of Information Technology Management, 1(2), 84-67
33
Singh, P., & Mishra, B. (2015). Conceptual framework of E-Learning Based on Knowledge Management Platform. International Journal of Scientific Research in Science, Engineering and Technology, 1(6),542-547.
34
Tucker, S., Turner, N., Barling, J., Reid, E. M., & Elving, C. (2006). Apologies and transformational leadership. Journal of Business Ethics, 63(2), 195-207.
35
Woods, J. A., & Cortada, J. (2013). The knowledge management yearbook 2000-2001. Routledge.
36
Yadollahi, H., & Fazayeli, A. (2005). Privatization and challenges in front of health department in Iran, conference of health economic and health insurance. Research institute of economy in Tarbiat Modarres University.
37
ORIGINAL_ARTICLE
Impact of Human Resource Management Practices (HRM) on Performance of SMEs in Multan, Pakistan
Small and medium enterprises (SMEs) support countries’ economies in financial context and also create employment opportunities. Human resource management (HRM) practices are very important to equip employees via training & development, employees’ motivation through effective rewards policies and effective recruitment and selection process. The global competition is one of compelling force behind companies to adopt human resource management (HRM) practices professionally. Human resource plays a vital role to improve organizational performance and create competitive advantage in this competitive era. The world has been globalized and companies are facing cut throat completion in the market. Therefore, human capital is one of major source to enhance organizational performance. Pakistani SMEs are producing heterogeneous products related to trade, agriculture business and manufacturing. A collection of 320 self-administered and well-structured questionnaires were distributed among the employees of small and medium enterprises of Multan. Only 240 forms were got back. Statistical tests like correlation and regression were applied through SPSS V22. The outcomes revealed that HRM practices (employee recruitment & selection, training & development, rewards policy and performance appraisals) are positively associated with SMEs performance. The results conclude that when HR experts of SMEs focus on improvement of these practices organizational performance would be increased.
https://www.ijmae.com/article_116565_0f5a5b6f1c4644a1700c231342c3f99b.pdf
2016-11-01
699
708
Human Resource Management
SMEs
performance
Pakistan
Fareeha
Naz
fareehagold@gmail.com
1
MS Scholar, Dept. of Management Sciences, COMSATS Institute of Information Technology, Islamabad, Pakistan
LEAD_AUTHOR
Junaid
Aftab
2
MS Scholar, Dept. of Management Sciences, COMSATS Institute of Information Technology, Islamabad, Pakistan
AUTHOR
Muhammad
Awais
3
MS Scholar, Dept. of Management Sciences, COMSATS Institute of Information Technology, Islamabad, Pakistan
AUTHOR
Becker, B. E., &Huselid, M. A. (1998, July).Human resources strategies, complementarities, and firm performance.In Academy of Management Annual Meeting, Boston, MA. Abstract retrieved from http://mgt. buffalo. edu/departments/ohr/becker/publications/HumanResourcesStrategies. pdf.
1
Cassell, C., Nadin, S., Gray, M., & Clegg, C. (2002). Exploring human resource management practices in small and medium sized enterprises. Personnel Review, 31(6), 671-692.
2
Cook, P., &Nixson, F. (2000). Finance and small and medium-sized enterprise development. Institute for Development Policy and Management, University of Manchester.
3
De Kok, J., &Uhlaner, L. M. (2001).Organization context and human resource management in the small firm. Small Business Economics, 17(4), 273-291.
4
De Kok, J., Uhlaner, L. M., &Thurik, R. (2003).Human resource Management with small firms; facts and explanations.
5
Feeney, L. S., & Riding, A. L. (1997). Business Owners’ Fundamental Tradeoff: Finance and the Vicious Circle of Growth and Control. Canadian Business Owner, November.
6
Jackson, S. and Schuler, R. S. (2003). Managing Human Resources through Strategic Partnership (8th edn). Canada: Thompson.
7
Kaman, V., McCarthy, A. M., Gulbro, R. D., & Tucker, M. L. (2001). Bureaucratic and high commitment human resource practices in small service firms. People and Strategy, 24(1), 33.
8
Koch, M. J., & McGrath, R. G. (1996). Improving labor productivity: Human resource management policies do matter. Strategic management journal,17(5), 335-354..
9
Kongolo, M. (2010).Job creation versus job shedding and the role of SMEs in economic development. African Journal of Business Management, 4(11), 2288.
10
Kotey, B., & Slade, P. (2005). Formal human resource management practices in small growing firms. Journal of small business management,43(1), 16-40.
11
Masood, T. (2010). Impact of human resource management (HRM) practices on organizational performance: a mediating role of employee performance (Doctoral dissertation, MOHAMMAD ALI JINNAH UNIVERSITY ISLAMABAD).
12
Stavrou, E. T., & Brewster, C. (2005). The configurational approach to linking strategic human resource management bundles with business performance: myth or reality?. Management Revue, 186-201.
13
Todaro, M., & Smith, S. (2003). Development economics. Pearson education.
14
Wagar, T. H. (1998). Determinants of human resource management practices in small firms: Some evidence from Atlantic Canada. Journal of Small Business Management, 36(2), 13.
15
Wright, P. M., Dunford, B. B., & Snell, S. A. (2001). Human resources and the resource based view of the firm. Journal of management, 27(6), 701-721.
16
ORIGINAL_ARTICLE
Studying Substitution of Factors and Economies of Scale Using the Composite Cost Function in Fars Cement Factory
It is important to analyze the relationship between inputs and economies in the production due to high share of added value and great contribution of cement industry in national production and construction projects. In this paper, returns to scale, elasticities of substitution, function coefficients and economies of scale in Fars Cement Company were extracted and analyzed using the composite cost function and dual cost approach. The iterated nonlinear seemingly unrelated regression (NLSUR) method from 2002 to 2012 and quarterly data with Limdep8 Software were used in order to extract the cost function. Allen cross partial elasticity results for each pair of inputs showed that labor is a substitution for capital and other services. Capital input and other services are complementary. In addition, demand price elasticities indicate inelasticity of production factors against changes in price of those factors. According to research results, production of cement in Fars Cement Company resulted in ascending economies of scale and returns to scale.
https://www.ijmae.com/article_116566_855838f3cdb710e1f73c0f0e2f90bc0b.pdf
2016-11-01
709
719
Elasticities of substitution
composite cost function
returns to scale
iterated nonlinear seemingly unrelated regressions
Mansour
Zarra Nezhad
1
Shahid Chamran University of Ahvaz, Ahvaz, Iran
AUTHOR
Hanieh
Eskandary
hanieh_eskandary@yahoo.com
2
Shahid Chamran University of Ahvaz, Ahvaz, Iran
LEAD_AUTHOR
Ebrahim
Anvari
3
Shahid Chamran University of Ahvaz, Ahvaz, Iran
AUTHOR
Abrate, G.; Erbetta, F., Fraquelli, G. and Vannoni, D. (2001).The costs of disposal and recycling: An application to Italian municipal solid waste services. Applied Economic, Working Paper., No. 20, June 2011.
1
Baumol, W. J.; Panzar, J. C. and Willig, R. D. (1982) . Contestable Markets and the Theory of Industry Structure. New York: Harcourt Brace Jovanovich.
2
Bloch, B.; Madden, G. and Savage, S. (2001).Economies of scale and scope in Australian telecommunications. Review of Industrial Organization,Vol.18, pp. 219-227.
3
Bottasso, A.; Conti, M., Piacenza, M. and Vannoni, D. (2010).The appropriateness of the poolability assumption for multiproduct technologies: Evidence from the English water and sewerage utilities. Production Economics, Vol.130, pp. 115-117.
4
Caves, D.R.C, and Michael W.T. (1980). Flexible Cost Functions for Multiproduct Firms. this Review, 62. pp. 477-481.
5
Central Bank of the Islamic Republic of Iran, monthly statistical reports and economic indicators, various years
6
Christensen, L.R.; Jorgenson, D.W. and Lau, L.J. (1973). Transcendental Logarithmic Production Frontiers. The Review of Economics and Statistics,Vol.55, No.1, p.p. 28-45.
7
Dickey, D.A, and Fuller, W.A. (1979). Distribution of the Estimators for Autoregressive Time Series with a Unit Root. Journal of the American Statistical Association 74, 427-431.
8
Diewert, W.E. and Wales,T. J.(1987). Flexible Functional Forms and Global Curvature Conditions. Econometrica 55. 43-68.
9
Evans, D, and Heckman,J. (1983). Multiproduct Cost Function Estimates and Natural Monopoly Tests for the Bell System. In D. S. Evans (ed.), Breaking Up Bell: Essays on Industrial Organization and Regulation. p.p. 253-282.
10
Ghorbani, Iman (2012), Studying the cost structure of Fars Gas Corporation using a composite cost function, Master's thesis, Department of Economics, University of Shiraz
11
Gujarati, Damudar (1999), Principles of Econometrics, Translated by Hamid Abrishami, Tehran: Tehran University Press
12
Karimi, Leila (2009), Studying the cost structure of Shiraz Water Supply and Wastewater, Master's thesis, Department of Economics, University of Shiraz
13
Lawrence, C. (1989). Banking Costs, Generalized Functional Forms, and Estimation of Economies of Scale and Scope. Journal of Money, Credit, and Banking 21 .p.p. 368-379.
14
Mancuso, P. (2011). Regulation and efficiency in transition: The case of telecommunications in Italy. Production Economics, Vol. 135, pp. 762-770.
15
Mutairi, N. Burney, A. (2002). Factor substitution, and economies of scale and utilization in Kuwait crude oil industry. Energy Economics, Vol. 24, pp. 337-354.
16
Negahban, Bita (2002), Estimating cost function of Iranian Telecommunication Company Iran and calculating productivity growth (a special case: wired telephone calls within the urban and suburban areas), Master's thesis, Department of Economics, Al-Zahra University
17
Piacenza, M. and Vannoni, D. (2004). Choosing among alternative cost function specifications: An application to Italian multi-utilities. Economies Letters, Vol. 82, pp. 415-422.
18
Pulley, L. and Braunstein, M. (1992). A composite cost function for multiproducte firms with an application to economies of scope in banking. The Review of Economics and Statics, Vol. 74, pp. 221-230.
19
Roller, L.H.(1990). Proper Quadratic Cost Functions with an Application to the Bell System. this Review 72. p.p. 202-210.
20
Salvatore, Dominic (2011). Theory and problems of statistics and econometrics, Translated by Kambiz Hajbar Kayani, Tehran: Ney Publication, second edition
21
Siddiqui, H. R., Lawler, K. E and Katus, E. (2007), Applied econometric approach, Translated by Shams Allah Shirin Bakhsh, Tehran: Avay Noor Publication
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26
ORIGINAL_ARTICLE
The Psychological Mechanism of Stigmatizing Attitudes toward Help Seeking Behavior for Mental Health Problems
Stigmatizing attitudes toward psychological help seeking is a significant obstacle for the people with mental health difficulties to obtain sufficient psychological help. Therefore, this paper examines the psychological mechanism of stigmatizing attitudes towards people with mental illness and help seeking performance. Data were gathered using already developed and validated scales with modifications. They are; mental Health Service Utilization Questions (MHSUQ), the Inventory of Attitudes toward Seeking Mental Health Services (IASMHS), Griffith’s public stigma sacle, Griffith’s self stigma scale, perceived need and utilization theory of mental health services, and General Help Seeking Questionnaire – Vignette Version (GHSQ-V). 600 students were interviewed from three state universities in Sri Lanka. The interviews were done based on three vignettes of young persons with a mental disorder consisting with statement show much they agree or not agree for each statement. Additionally, demographic information was collected. Data were analyzed using Statistical Package for Social Sciences (SPSS 19) and AMOS 20 software. Outcomes suggest that public stigma, and self stigma make influence on help seeking behavior negatively whereas public stigma makes greater influences on help seeking behavior negatively than self-stigma. However, in all vignettes, ‘dangerous person’ is the most responded item in both public stigma and self-stigma. It was found that female students have more positive attitudes, intention and actual help seeking behavior that male students. Further, results indicate that stigma reduction programs are more essential to effectively increase of help-seeking behavior among students. Results further suggest that policy makers to make interventions to change public attitudes towards mental illnesses rather than self-attitudes.
https://www.ijmae.com/article_116567_ec50c6e58439ae33e980ead3fc1d88f0.pdf
2016-11-01
720
734
Stigma
mental illness
Help Need
Help Seeking
Zhi-xia
Chen
zhxchen@hust.edu.cn
1
School of Public Administration, Huazhong University of Science & Technology, China
AUTHOR
Wijerathnage
Chandrasekara
sagara.user@gmail.com
2
Institute of Human Resource Advancement, University of Colombo, Sri Lanka
AUTHOR
Andersen , R. (1995). Revisiting the behavioral model and access to medical care: does it matter? J Health Soc Behav, 36, p.1-10.
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Cooper, A., Corrigan, P., & Watson, A. (2003). Mental illness stigma and care-seeking. Journal of Nervous and Mental Disease , 191, p.339-341 .
3
Corrigan, P. (2004). How stigma interferes with mental health care . American Psychologist, , 59, pp.614-625 .
4
Corrigan, P. (2005). On the Stigma of Mental Illness; Practical strategies for research and social change. Washington, DC : American Psychological Association.
5
Corrigan, P. (2007). How clinical diagnosis might exacerbate the stigma of mental illness. Social Work, 52 (1), p.31-39.
6
Corrigan, P., Larson, J., & Rusch, N. (2009). Self-stigma and the “why try” effect: Impact on life goals and evidence-based practices . World Psychiatry , 8, p.75-81 .
7
Feldman, D., & Crandall, C. (2007). Dimentsions of mental illnes stigma: What about mental illness causes social rejection? Journal ofSocial and Clinical Psychology, 26 (2), p. 137-154.
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Fernando, S. (2010). Stigma and Discrimination towards people with mental illness in Sri Lanka. Wollongong: University of Wollongong.
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Griffiths, K., Christensen, H., & Jorm, A. (2004). Effect of web-based depression literacy and cognitive-behavioural therapy interventions on stigmatising attitudes to depression: randomised controlled trial . British Journal of Psychiatry , 185 (4), pp.342-349 .
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Griffiths, K., Nakane, Y., & Christensen, H. (2006). Stigma in response to mental disorders: a comparison of Australia and Japan . BMC Psychiatry , pp.6-21.
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Kessler, R., Berglund, P., Demler, O., & Jin, R. (2005). Lifetime prevalence and age-of-onset distributions of DSM-IV disorders in the National Comorbidity Survey Replication . Archives of General Psychiatry, 62, p.593-602.
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Link, B. (2001). Stigma: Many mechanisms require multifaceted responses. Epidemiologia e Psichiatri Sociale, 10 (1), p. 8-11.
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Link, B., Phelan, J., Bresnahan, M., & Stueve. (1999). Public conceptions of mental illness: labels, causes, dangerousness, and social sidtance. American Journal of Public Health , 89 (9), P.1328-1333.
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Link, G., & Phelan, J. (2010). Labeling and stigma. In T. Scheid, & T. Brown , A handbook for the study of mental health: Social contexts, theories and systems (pp. p.571-587). New York: Cambridge University Press.
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Lucas , J., & Phelan , J. (2012). Stigma and Status: The Interrelation of Two Theoretical Perspectives. Social Psychology Quarterly , 75 (4), p.310–333 .
22
Mustillo, S., Budd , K., & Hendrix , K. (2013). Obesity, Labeling, and Psychological Distress in Late-Childhood and Adolescent Black and White Girls: The Distal Effects of Stigma. Social Psychology Quarterly , 76 (3), p.268-289 .
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36
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37
ORIGINAL_ARTICLE
The Effect of Insurers’ Ethics on Customer Attraction: A Case Study of Iran Insurance Company Agencies in Mashhad
According to the significance of ethics in different organizations and communities and regarding the necessity of considering this issue in insurance industry, this research is conducted to study the effect of insurer’s ethics on customer attraction by insurance companies. Moral values including honesty, fairness, respect and honor, accountability, and reliability components are individually investigated in this study to show the effect of these variables on customer attraction by insurance companies. This is an applied research in term of purpose and a descriptive-survey, field study in term of nature. Research population included all customers of Iran insurance company agencies in Mashhad City. 384 individuals were randomly selected through simple random sampling method as research sample. Further, data were collected through a questionnaire; the questionnaire reliability was estimated using Cronbach test. Research hypotheses were tested by using structural equations method. The results of hypotheses’ analysis indicated that all five ethical codes including honesty, fairness, respect and honor, accountability and reliability influence customer attraction in Iran insurance company. Overall, according to research results, it is inferred that insurer’s ethics may influence customer attraction by insurance companies.
https://www.ijmae.com/article_116568_f3fce84c0477508a36961ace98d30a66.pdf
2016-11-01
735
745
ethics
Moral Behavior
insurer
Customer Attraction
Iran Insurance Company
Abdorreza
Asadi
abdorreza1345@gmail.com
1
Department of Business Management, Neyshabur Branch, Islamic Azad University, Neyshabur, Iran
LEAD_AUTHOR
Samira
Ghanbari Sani
sa.ghanbari@ymail.com
2
Department of Business Management, Neyshabur Branch, Islamic Azad University, Neyshabur, Iran
LEAD_AUTHOR
Alvani, S.M., Qasemi, A.R. (1998). Organizational social responsibility and management. 1st edition, Tehran: State Management Training Center.
1
Beykzade, J., Mousavi, Z., and Eskandari, A. (2011). The relationship between the quality of e-services and e-satisfaction of students of Islamic Azad University, Bonab branch. Journal of Information and Communication Technology in Education, I (3). Pp. 67-92.
2
Mudrack, P. E., (2012), Ethical Judgments: What Do We Know, Where Do We Go?, business ethics Review, Published Online, Springer Science+Business Media B.V.
3
Qorbani, M., Zarandi, M.M., and Hesari, R. (2005). Ethics and social accountability in managers. Future Management, 11. Pp. 79-91.
4
Riyahi far, M. (2011). Professional ethics in insurance industry. Proceedings of professional ethics in insurance industry.
5
Roman, S., Ruiz, S., (2005), Relationship outcomes of perceived ethical sales behavior: the customer’s perspective. J. Bus. Res., 58(4), pp. 439-445.
6
Viaene, S., Dedene, G., (2004). Insurance Fraud: Issues and Challenges. The Geneva Papers on Risk and Insurance. 29(2), pp. 313–333.
7
Zahedi, Sh. (2000). Transnational management and comparative approach. Tehran: SAMT publication.
8
ORIGINAL_ARTICLE
Investigating the Efficiency of Tejarat Bank Information Systems in Presenting Reports to the Managers
This study aims to investigate the efficiency of Tejarat Bank information systems and the extent to which bank managers apply these systems. Today's condition of trading and competitive atmosphere and the evolution in financial and banking systems of countries has highlighted the need for a comprehensive and responsive evolution to satisfy the society's needs in any developing and sustainable economy. Hypotheses have been formulated to assess and evaluate the present systems from various dimensions. This study was carried out in all branches of Tejarat Bank in Kerman Province in 2014. Data was collected through questionnaire and field study. Data analysis have been done through statistical tests. Findings showed that Tejarat Bank accounting information system has great potentiality and efficiency in providing the bank managers with adequate information. On the other side, the bank mangers made the least use of the information presented by these systems.
https://www.ijmae.com/article_116569_23d58507c8ca20ae46487e492adf2a9f.pdf
2016-11-01
746
757
Information systems
information systems efficiency
Tejarat Bank
Mehdi
Ebrahiminejad
mehdi.nejad@uk.ac.ir
1
Associate Professor of faculty of Economics and Management, Bahonar University of Kerman, Iran
LEAD_AUTHOR
Meysam
Aminizadeh
meysam.amini.7@gmail.com
2
Master of Accounting, Kerman Bahonar University Pardis, Iran
AUTHOR
Ma'soumeh
Dehghani
shafiee@aem.uk.ac.ir
3
M.A in Crisis Management, Bahonar University of Kerman, Kerman, Iran
AUTHOR
Ackoff, Russell L. (1999), Ackoff’s Best: His Classic Writings on Management, New York: John Wiley and Sons, Inc.
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Ahmadi, Hasan. (1998), strategic planning and its application, cultural institute of Sayenama publication, Tehran
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Arab Mazar Yazdi, M, (1994), limitations and obstacles of lack of using computers and software tools in preparing financial information, accounting and auditing studies, No 9.
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Dadmand Fatemeh, (2009), studying amount of success of financial information systems of Ferdousi University of Mashad, M.A thesis, Mashad Ferdousi University.
4
Etemadi Hossein and Elahi Sh. & H, Agayi, K. (2004), studying the effect of informational technology on qualitative features of accounting information, accounting and auditing studies, No 43, pp 3-24.
5
Fakharian, Abolghasem. (2005), function of management and accounting information systems, Tadbir monthly, publication of industrial management organization of the country, No 58
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Fazeli A, and Edalat A. (2010), accounting information system, auditing journal, No 51, Pp120-124
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Irannejad, Mehdi. (2003), research methodologies in social science, second edition, managers’ publication
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Mcleod Reymond. (2008), management information systems, translated by Mehdi Jamshidian and Akbar Medhipour Atabadi, publications of Esfahan University.
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Mcleod, Raymand, (1991), Management information systems. Seventh ed. Newjersy: prentise Hall.
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Omidvar, Majid. (2005), an introduction to management information system, management strategies, No 15, Pp7-12.
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12
Zweizig, D.l., & Powell,R.R. (1998), Information need. In M.E. Soper (Ed.), The librarian,s thesaurus: aconcise guide to library and information terms. Chicago: American Library Association
13