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Development of an Early Warning Model for Currency Crises in Emerging Economies: An Empirical Study among Middle Eastern
Countries
Naser I. Abumustafa |
403 |
Development of an Early Warning Model for Currency Crises in Emerging Economies: An Empirical Study among Middle Eastern
Countries
Naser I. Abumustafa
Gulf University for Science and Technology, Kuwait
The study proposes real exchange rate, exports, imports, trade balance/gross domestic product (GDP), foreign liabilities/foreign assets, domestic real interest rate, world oil prices, and government consumption/GDP as indicators to predict currency crises in emerging economies: Egypt, Jordan, and Turkey. We select 8 indicators from 5 different sectors: current account, fiscal sector, financial sector, world economy, and capital account. The results show that all crises were predictable. Furthermore, the study shows that Jordan could be due for another currency crisis in the near future.
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The Impact of Corporation Income Tax Policy on Investment Expenditures: A United States Survey
Tin-Chun Lin |
412 |
The Impact of Corporation Income Tax Policy on Investment Expenditures: A United States Survey
Tin-Chun Lin
Indiana University Northwest
Taxation is a major instrument of economic policy. The corporation income tax is one of the most important taxes in the United States. However, it discourages incentive investment by investors by increasing capital costs in the corporate sector relative to the unincorporated sector. An empirical analysis of postwar U.S. data for the 1945-2001 period shows that the corporation income tax policy exhibits a negative and significant effect on investment.
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The Management of Risk by Taiwanese Venture Capital Firms Operating in China: A Process Perspective
Chung-Chu Liu, Shiou-Yu Chen |
420 |
The Management of Risk by Taiwanese Venture Capital Firms Operating in China: A Process Perspective
Chung-Chu Liu
National Taipei University, Taiwan
Shiou-Yu Chen
National Taiwan Ocean University, Taiwan
This article adopts a process perspective to identify the risks faced by Taiwanese venture capitals operating in China and offers workable suggestions and solutions for every stake uncovered. Qualitative and open-ended responses to questions were collected from 13 venture capital principals, agents, and third-parties. Content analysis was then used to examine the data. The result shows different venture capital investment processes have or use different management methods to reduce risks; for example, setting clear goals, establishing close relationship, continuous communication, effective monitoring and exit capabilities.
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Employee and Organizational Perspectives of Service Quality: A Cross-cultural Study in Kuwait, United States and Saudi Arabia
Richard Buda, Kaushik Sengupta, Sayed Elsayed-Elkhouly, Lung-Tan Lu |
430 |
Employee and Organizational Perspectives of Service Quality: A Cross-cultural Study in Kuwait, United States and Saudi Arabia
Richard Buda
Hofstra University
Kaushik Sengupta
Hofstra University
Sayed Elsayed-Elkhouly
Ain Chams University
A cross-cultural and cross-industry study was conducted on the internal service quality of employees. In addition, other demographic factors such as education level and gender were examined. The results based on responses from a survey conducted on employees in the airlines and health services sector in Kuwait, Saudi Arabia and the United States revealed no evidence of cross-cultural effects, while some cross-industry effects exist for some of the service quality dimensions. This is the first known study concerning internal service quality in a cross-cultural and multi-industry setting. The results show potential for future research in this area.
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The Relationship between Cultural Distance and Performance in International Joint Ventures: A Critique and Ideas for Further Research
Lung-Tan Lu |
436 |
The Relationship between Cultural Distance and Performance in International Joint Ventures: A Critique and Ideas for Further Research
Lung-Tan Lu
Fo Guang University, Taiwan
This study provides an analytical assessment of fourteen empirical studies relating to the impact of cultural distance on international joint venture (IJV) management and performance. The research method employed Hofstede’s five dimensions (i.e. power distance, individualism, uncertainty avoidance, masculinity and long-term orientation), or the approach developed by Kogut and Singh (1988) and then combined it with Hofstede’s dimensions into one aggregate measure. By using these approaches, we found fourteen studies that generated inconsistent results. In this paper, we also discuss some methodological and conceptual questions as well as proposed suggestions for further research.
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A Comparative Study of Three Time Series Models in Grain Future Forecasting
Ping-Feng Pai, Yen-Chang Chen, Kuo-Ping Lin |
446 |
A Comparative Study of Three Time Series Models in Grain Future Forecasting
Ping-Feng Pai
National Chi Nan University, Taiwan
Yen-Chang Chen
Yu-Da College of Business, Taiwan
In contemporary finance, derivatives such as futures and options have become increasingly important not only for risk management but also for price speculation. Accurate forecasts of market trends can provide investors with enormous profits in relation to capital invested by engaging in high-leverage trading activities. The support vector machines (SVMs) have been successfully applied in solving nonlinear regression and times series problems. This study compared the forecasting performance of three models, the SVM model, the autoregressive integrated moving average (ARIMA) model and the general regression neural network (GRNN) model, by applying these models to three different grain futures. Experimental results suggested that the SVM model is a valid and promising alternative method for grain futures forecasting.
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Modeling the Relationship between Cohesion and Performance in Student Work Group
William R. Forrester, Armen Tashchian |
458 |
Modeling the Relationship between Cohesion and Performance in Student Work Group
William R. Forrester
Kennesaw State University
Armen Tashchian
Kennesaw State University
Cohesion has been central to investigators seeking insight into the dynamics of small work groups. The present paper reports the effects of cohesion on performance outcomes in the context of student work groups. Data collected from a sample of 216 students indicate that social cohesion was significant as a predictor of team effectiveness but was not a significant predictor of team effort or team work satisfaction. Task cohesion was significantly and positively related to team effort, team effectiveness, and team work satisfaction. These findings indicate that students view team membership as useful for achieving task outcomes more than for satisfying social needs. Implications for educators are discussed along with suggestions for future research.
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The Influence of Culture Strength on Person-Organization Fit and Turnover
Robert G. DelCampo |
465 |
The Influence of Culture Strength on Person-Organization Fit and Turnovern
Robert G. DelCampo
University of New Mexico
This paper illustrates an attempt to further organizational culture research. Past attempts have focused much too broadly on the possible outcome effects of organizational culture (linking directly to performance); this discussion hinges primarily on the outcomes of person-organization fit and its impact on employee quit rates. Past research has found a significant link between these two constructs, but the idea of cultural strength has not been theoretically linked or examined in regard to this or any other cultural phenomenon. To this end, the current exploration is an attempt at synthesizing these seemingly disparate, yet dependent constructs. The following asserts that the strength of an organization’s culture moderates the relationship between person-organization fit and turnover propensity.
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The Development of a Conceptual Model to Explain Turnover among Women in Top Management Team
Hema A. Krishnan, Daewoo Park, Lynda Kilbourne |
470 |
The Development of a Conceptual Model to Explain Turnover among Women in Top Management Team
Hema A. Krishnan
Xavier University
Daewoo Park
Xavier University
Lynda Kilbourne
Xavier University
With women making major inroads in the upper echelons in recent years, gender studies have gained the attention of researchers in the management discipline. There is already some empirical evidence suggesting that the representation of women on top management teams has a positive impact on organizational performance. There is also a lot of research on the adverse impact of top management turnover on organizational performance. Most top management turnover studies, however, have focused on male managers as women have ascended the top ranks in large numbers only in recent years In this study, we build a conceptual framework to examine the determinants and consequences of turnover among women on top management teams.
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Personality Traits as Antecedent of Employee Customer Orientation:
A Case Study in the Hospitality Industry
Chu-Mei Liu, Kuang-Jung Chen |
478 |
Personality Traits as Antecedent of Employee Customer Orientation:
A Case Study in the Hospitality Industry
Chu-Mei Liu
Ching Yun University, Taiwan
Kuang-Jung Chen
Ching Yun University, Taiwan
Previous studies suggested connections between profits of organizations and their employees’ market orientation, especially among service-oriented outfits. Key to their success is the performance of their frontliners. The previous studies have shown to imply that personality traits and situations interact with dispositions influence behavior and performance. This study investigated the possible links between market orientation and personality traits of the hospitality industry frontline employees consisted of 374 frontline employees and supervisors, the latter conceptualized as antecedents. Results shows that while the links exist, this significant association is only between market orientation and four dimensions out of the five dimensions of personality traits used: conscientiousness, stability, agreeability, and activity.
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Ownership Structure and Financial Distress: Evidence from Public-listed Companies in China
Xiaolan Deng, Zongjun Wang |
486 |
Ownership Structure and Financial Distress: Evidence from Public-listed Companies in China
Xiaolan Deng
Huazhong University of Science & Technology, P. R. China
Zongjun Wang
Huazhong University of Science & Technology, P. R. China
Relationships between the ownership structure attributes and the risk of financial distress are empirically examined for public-listed companies in China. The results show that ownership concentration and state ownership are negatively associated with the probability of financial distressed, suggesting that large shareholders and the state share owners have incentives to hold back financial distress. Management and board member ownership is found to be unrelated with the distress status, which may be that the effects of convergence and entrenchment are weak due to minority of management and board member ownership. Stock turnover rate also turns out to be insignificant, implying the stock liquidity may not provide a valuable external discipline in Chinese emerging stock market. Proportion of tradable shares appears to be positively related with the likelihood of financial distress. It could be that the tradable shareholders’ free-riding behaviors lead to a low level of governance efficiency. The attendance rate of annual shareholders’ general meeting appears to be not an important determinant, which is possibly due to the exorbitant dominance of large shareholders in major decision-making and limited voting rights controlled by the institutional investors.
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Effects of Organizational Culture and Learning on Manufacturing Strategy Selection: An Empirical Study
Shih-Chieh Fang, Jue-Fan Wang |
503 |
Effects of Organizational Culture and Learning on Manufacturing Strategy Selection: An Empirical Study
Shih-Chieh Fang
National Kaohsiung First University of Science and Technology, Taiwan
Jue-Fan Wang
Fortune Institute of Technology, Taiwan
The literature has focused on manufacturing strategy issues from diverse perspectives, most of which are concentrated on hard issues such as marketing and R&D activities. However, relatively few articles have explored manufacturing strategy with soft issues, particularly organizational factors. This study attempts to clarify how firms select their manufacturing strategies based on their organization cultures and organization learning. Based on the related literature, this study infers hypotheses regarding the relationship between organizational cultures, organizational learning, and manufacturing strategies. This study conducts a survey by sampling firms of representative industries to examine the hypotheses. The empirical evidence from 103 respondents confirms the impact of organizational culture and learning on manufacturing strategies. This study provides a new insight on manufacturing strategy issues.
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An Empirical Examination of the Impact of Risk Factors on Auditor’s Risk Assessment
Hsueh Ju Chen, Shaio Yan Huang, Kuang-Hsun Shih |
515 |
An Empirical Examination of the Impact of Risk Factors on Auditor’s Risk Assessment
Hsueh Ju Chen
ChungHsing University, Taiwan
Shaio Yan Huang
Feng Chia University, Taiwan
Kuang-Hsun Shih
Chinese Culture University, Taiwan
The primary objective of this study is to identify what factors affect the assessments of auditor risks including audit risk, business risk, and personal risk in under-researched area of Singapore. Factor analysis and logistic regression were applied as methods of analysis. The result shows that a single factor related to “the effectiveness of control activities” has significant explanatory power, and indicates that the client’s control environment is influential in contributing to the assessments of auditors’ risks.
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Growth Strategies and Merger Patterns among Small and Medium-Sized Enterprises: An Empirical Study
Chih-Chiang Lu |
529 |
Growth Strategies and Merger Patterns among Small and Medium-Sized Enterprises: An Empirical Study
Chih-Chiang Lu
Chung Kuo Institute of Technology, Taiwan
This investigation uses the Analytic Hierarchy Process to examine two main issues: once small and medium enterprises (SMEs) set their development objective as growth, how should they choose the proper means of generating growth? If SMEs choose to meet their strategic objectives by merger and acquisition (M&A), what is the best method of so doing? Furthermore, the current policy of loaning to SMEs in Taiwan is addressed, in terms of support for, or limitation of, manufacturing M&A. The optimal M&A methods for various industries are considered. Finally, a number of recommendations are made regarding growth strategies for Taiwan SME’s and the kind of structures that are likely to be most effective for them.
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Interorganizational Collaboration, Social Embeddedness, and Value Creation: A Theoretical Analysis
Lin, Hsin-Mei, Hsin-Mei Lin |
548 |
Interorganizational Collaboration, Social Embeddedness, and Value Creation: A Theoretical Analysis
Hsin-Mei Lin
National Chinan University, Taiwan
This paper explains interorganizational collaboration and its success at value creation (of time-to-market and cost benefits) by adopting the concepts of network, transaction cost economics (TCE) and the resources-based view (RBV). The TCE and RBV theories together portray the modes of exchanging strategic resources, which are characterized by information asymmetry, resources inimitability, and resources immobility. Also, the importance of the role of relational embeddedness in moderating information problems, the role of structural embeddedness in offering informal safeguarding mechanisms to lessen coordination difficulty, and the role of positional embeddedness in strengthening the benefits of the other kinds of embeddedness are elucidated in terms of network theory to explain that strategic resources exchange, despite transaction difficulties, can be conducted. This paper also proposes that interorganizational embeddedness in interfirm collaborations of resources exchange and combination has a supplemental role for facilitating value creation when transaction cost theories and the resources-based view are applied in the exchange process and modes
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A Double-Edged Sword: Organizational Culture in Multicultural Organizations
Mary G. Trefry |
563 |
A Double-Edged Sword: Organizational Culture in Multicultural Organizations
Mary G. Trefry
Sacred Heart University
The primary premise explored in this paper is that organizational culture has the potential for even greater impact in multicultural organizations than mono-cultural ones because an organization’s culture can intensify both the benefits and the challenges of employee cultural diversity, and thus indirectly, affect organizational performance, organizational learning and competitive advantage. The assumptions underlying this contention and relationships among variables that contribute to the impact are explored in this paper, along with practical organizational implications.
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Balancing Managerial Control Systems and Service Quality: A Case Study of the National Health Insurance Programme in Taiwan
Wan-I Lee, Ying-Hui Wang, Jenn-Maw Cheng, Min-Huei Chiang |
576 |
Balancing Managerial Control Systems and Service Quality: A Case Study of the National Health Insurance Programme in Taiwan
Wan-I Lee
National Kaohsiung First University of Science and Technology, Taiwan
Ying-Hui Wang
National Kaohsiung First University of Science and Technology, Taiwan
Jenn-Maw Cheng
National Kaohsiung First University of Science and Technology, Taiwan
Min-Huei Chiang
National Kaohsiung First University of Science and Technology, Taiwan
The purpose of this article is to examine the agency relationship as it relates to the controls used by hospital facilitators (clinics, regional or local community hospitals, and medical centers) in the National Health Insurance (NHI) system of Taiwan. Major problems the health care service has to deal with are the difficulty in assessing quality of health care, the complexity of many of the tasks involved and the high degree of uncertainty in the behavior control systems that are recommended. The Bureau of National Health Insurance (BNHI) is able to arrange additional budgets to reward (outcome-based control system) those facilitators that provide good quality health care. The authors suggest a hybrid control system, which it is argued can lead to efficient hospital care and can help to improve the health care provided for all citizens in Taiwan.
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Task Cohesion: A Mechanism for Bringing Together Diverse Teams
Stephen B. Knouse |
588 |
Task Cohesion: A Mechanism for Bringing Together Diverse Teams
Stephen B. Knouse
University of Southwestern Louisiana
Teams that have diverse and cross-functional membership face a basic dilemma. Such diversity produces a greater range of perspectives and problem solving approaches, but at the same time decreases social cohesiveness in the team. This article examines an alternative approach - task cohesion, i.e., building team cohesion based upon the task rather than social aspects of the team. I discuss the theoretical bases of task cohesion as well as empirical findings. I present recommendations for implementing task cohesion in diversified teams.
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The Development of a Model Specifying the Differences in Hispanic and White Adolescents’ Consumer Behavior
Christina Rafeedie, Lynn Godkin, Sean Valentine, Robert A. Swerdlow |
597 |
The Development of a Model Specifying the Differences in Hispanic and White Adolescents’ Consumer Behavior
Christina Rafeedie
Lamar University
Lynn Godkin
Lamar University
Sean Valentine
University of Wyoming
Robert A. Swerdlow
Lamar University
Adolescent purchasing behavior is often learned through consumer socialization. Differences in Hispanic and White adolescents’ buying behavior can result from this process. This paper presents an integrated descriptive model based on the literature that distinguishes the consumer behavior of these diverse groups of adolescents.
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The Relevance of Patents for Market Value: A Study of Chinese Firms in Different Stock Markets
Chen Lung Chin, Shou Min Tsao, Hsin Yi Chi |
606 |
The Relevance of Patents for Market Value: A Study of Chinese Firms in Different Stock Markets
Chen Lung Chin
National Chengchi University, Taiwan
Shou Min Tsao
National Central University, Taiwan
Hsin Yi Chi
National Central University, Taiwan
This paper examines whether the number of patents granted is associated with a firms’ value, and whether the association varies systematically across stock markets with differential accounting disclosure standards in China. Secondly, we examine whether the association is a function of a firm’s life cycle stage in China. As predicted, we find that patents granted are positively associated with firm value, and this association is higher for firms listed on the Hong Kong Stock Exchanges (SEHK) than those listed on the Shanghai or the Shenzhen Exchanges (SZSE or SHSE). The results show that investors value patents more positively for firms in the earlier stages than in the later stages of the life cycle. We also find that the implications of the life cycle theory--of the value-relevance of patents granted--are more pronounced for firms issuing H shares on the SEHK than for firms issuing A shares on the SZSE or SHSE. The most plausible explanation for our findings is that firms listed on these two stock markets face different information and institutional environments, such as differential accounting disclosure standards and listing requirements.
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The Repatriation and Retention of Employees: Factors leading to Successful Programs
David C. Martin, John J. Anthony |
620 |
The Repatriation and Retention of Employees: Factors leading to Successful Programs
David C. Martin
American University
John J. Anthony
American University
The advantages of successful international experience in business are well known and growing. Those who have succeeded in the global environment are very valuable assets to their organizations. One of the significant challenges to organizations is retaining these highly sought after individuals after they complete their overseas assignments. The research and experience of many multinationals show that a formal repatriation and retention program plays a significant role in keeping these valuable resources in the organization. A four phase repatriation and retention program , which is supplemented with the experiences of several companies, is presented.
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The Role of Electronic Performance Systems in Improving Learning and Performance: A Managerial Perspective
Hung-Wen Lee, Ching-Hsiang Liu |
632 |
The Role of Electronic Performance Systems in Improving Learning and Performance: A Managerial Perspective
Hung-Wen Lee
National Chia-Yi University, Taiwan
Ching-Hsiang Liu
National Formosa University, Taiwan
The goal of an EPSS is to provide whatever is necessary to generate performance and learning at the moment of need. People have been provided with some of the help to accomplish this goal with powerful tools such as job aids and CBT. However, these tools are not an EPSS by themselves, although they can be part of an EPSS. The common denominator that differentiates an electronic performance support system from other types of systems or interactive resources is the degree to which it integrates information, tools, and methodology for the user. This paper examines the definition of an EPSS, reviews EPSS components, examines some course management tools currently used in educational programs, and explores the use of EPSS technology in education.
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The Effect of Strategic Group Membership on the Operational Performance of Leisure Farms in Taiwan
Chen-Ling Fang, Ting Lie |
640 |
The Effect of Strategic Group Membership on the Operational Performance of Leisure Farms in Taiwan
Chen-Ling Fang
National Taipei University, Taiwan
Ting Lie
Yuan Ze University, Taiwan
According to the Tourism Bureau (2000) of the Ministry of Transportation and Communications, from 1986 to 2000, there was a two-fold increase in Taiwan’s leisure population. The number of leisure locations in Taiwan was more than doubled. Leisure farms can not only provide places for leisure tourists, but also enhance their appreciation of Mother Nature. However, leisure farms constantly face management difficulties due to the lack of human resources and capital. The objective of this research was to identify the strategic groups in Taiwan leisure farms and to examine the strategy-performance consequences of strategic group membership. In this study, in-depth interviews with 67 leisure farms in Taiwan have been conducted. Results indicated significant performance differences between various strategic groups. Suggestions for competitive repositioning is proposed for leisure farms in Taiwan.
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Towards a Higher-Level Systems Development Life Cycle, with Universal Applications
William Moore, Ernest Nolan, Sharlett Gillard |
646 |
Towards a Higher-Level Systems Development Life Cycle, with Universal Applications
William Moore
Ivy Tech State College
Ernest Nolan
University of Southern Indiana
Sharlett Gillard
University of Southern Indiana
The planning phase that precedes the traditional Systems Development Life Cycle (SDLC) is often ambiguous. It could be depicted as a cloud since in some texts it is referred to as a phase about which the system designer has neither knowledge nor control. Yet, from this ambiguity the system developer is presented with a problem statement or system that must be designed. The new paradigm in this article posits that this cloud or unknown process is actually a higher level SDLC. In addition, the paradigm challenges the linear structure of the SDLC. The proposed structure is universal in application and thus appropriate for any endeavor.
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The Effect of the Use of Electronic Stock Market Trading on Customer Attitudes and Behaviours: An Empirical Investigation
Albert J.F. Yang |
653 |
The Effect of the Use of Electronic Stock Market Trading on Customer Attitudes and Behaviours: An Empirical Investigation
Albert J.F. Yang
National Kaohsiung First University of Science and Technology, Taiwan
Given the importance of customer relationship to service businesses and the recent development of electronic commerce (EC), a critical research agenda that requires attention is whether there is a significant link between EC-related investments and customer relationship. A better understanding of the relationship between EC and customer relationship may provide service firms with information to decide the future of EC arrangements. This research assesses the importance of EC as a strategic driver of customer relationship for stock brokerage firms. This explains the underlying processes through which customers’ use of electronic trading leads to improvements in service quality and higher levels of satisfaction, and ultimately to such desired outcomes as attitudinal loyalty and actual retention. Empirical data were collected from an intercept field survey of 162 customers of two major Taiwanese stock trading brokers. Our results show that greater use of electronic trading is strongly associated with high levels of perceived quality and actual retention. In addition, the path model reveals service quality having the greatest mediating effect on overall satisfaction and actual retention. The investments for EC can be only important to stock brokerage firms to the extent that they influence certain relationship outcomes, such as service quality, overall satisfaction, attitudinal loyalty and actual retention.
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Classifying Healthcare Network Relationships: An Analysis with Recommendations for Managers
Jer-San Hu, Wen-Hui Yang, Ya-Yen Chou |
665 |
Classifying Healthcare Network Relationships: An Analysis with Recommendations for Managers
Jer-San Hu
National Yunlin University of Science and Technology, Taiwan
Wen-Hui Yang
China Medical University and National Yunlin University of Science & Technology, Taiwan
Ya-Yen Chou
Far East College and National Yunlin University of Science & Technology, Taiwan
Healthcare organizations are now facing unprecedented environmental challenges. To adjust to these challenges, healthcare organizations frequently develop inter-organizational relationships to increase the chances of them being able to survival and grow. The healthcare networks that result could become a major trend in how such organizations operate. Despite this, there are few relevant investigations into how such networks should be established and what they should look like, what are optimal structures for such networks. This investigation aims to remedy this deficiency in current research. In this paper we argue that healthcare networks can be described in terms of two basic dimensions, of breadth and depth, from which four types of healthcare network relationships can be identified, these being the Network Cooperation, Network Transaction, Relationship Transaction and Pure Transaction kinds of network structures. Using this classification system as a basis, we develop a number of suggestions, from a review of the relevant literature, for managers of healthcare organizations and policy makers for improving their decision-making about operations and policies.
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Teaching Business Ethics – Is it a Lost Cause?
Bruce W. Warren, Deborah Rosenthal |
679 |
Teaching Business Ethics – Is it a Lost Cause?
Bruce W. Warren
Simmons College
Deborah Rosenthal
Simmons College
This paper reviews current corporate scandals to include such noteworthy examples as Frank Quattrone, Martin Grass, Martha Stewart, Tyco, United Nations, WorldCom, Adelphia Communications, Fannie Mae, Parmalat, Qwest Communications, Rite Aid, Health South, Enron and Kenneth Lay, to name a few. Several key individuals involved with these scandals are graduates of business schools and this paper examines what some of those business schools and other business schools have done regarding their respective curricula in the ethics area and the potential implications for the future.
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Measuring Managerial Efficiency in Non-Life Insurance Companies: An Application of Two-Stage Data Envelopment Analysis
Shiuh-Nan Hwang, Tong-Liang Kao |
699 |
Measuring Managerial Efficiency in Non-Life Insurance Companies: An Application of Two-Stage Data Envelopment Analysis
Shiuh-Nan Hwang
Ming Chuan University, Taiwan
Tong-Liang Kao
Tamkang University, Taiwan
This paper uses the two-stage data envelopment analysis (DEA), which was first used by Seiford and Zhu (1999), to measure managerial performance in 24 non-life insurance companies in Taiwan. Performance was measured by Marketability in the first stage, and Profitability in the second stage. In addition, this paper uses the Tobit regression model to examine factors that significantly influence managerial efficiency. Nine variables were employed to examine the model. The results revealed that marketability can be explained by; percentage of outer servers, number of branches, premium investment percentage and corporate image, while profitability can be explained by market share, percentage of premium reserved and corporate image. Moreover, the entire industry can be partitioned into four clusters based on marketability and profitability of a company. Effective management strategies need to be developed specially for of the four clusters of non-life insurance companies. It is hoped this study can provide useful information for managers of non-insurance companies in the future.
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Characteristics of Firms Owned by Foreigners on the Taiwanese Stock Market: An Analysis
Yi-Chein Chiang, Chih-Chen Kuo |
721 |
Characteristics of Firms Owned by Foreigners on the Taiwanese Stock Market: An Analysis
Yi-Chein Chiang
Feng Chia University, Taiwan
Chih-Chen Kuo
Feng Chia University, Taiwan
In this paper, we investigate the characteristics of foreign ownership on the Taiwanese Stock Market, using firm data from 2001 to 2003. We find that foreign investors tend to prefer firms with certain attributes, such as large size, issuing foreign securities, high ROE, low leverage ratio, and low employee stock bonuses. They also prefer MSCI-concept and China-concept stocks.
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The Development and Evaluation of an Index to Measure the ‘Sustainable Vitality’ of Commercial Banks
Shing-Ko Liang, Sung-Yi Hsieh |
729 |
The Development and Evaluation of an Index to Measure the ‘Sustainable Vitality’ of Commercial Banks
Shing-Ko Liang
National Chiao Tung University, Taiwan
Sung-Yi Hsieh
National Chiao Tung University, Taiwan
This study analyzes the dimensions of the ‘vitality of development’ of banking systems. Fuzzy synthetic decision analysis was used to construct and evaluate an index of the vitality of training, assigning and development, to offer banks new perspectives and methods of assessment. In this study, we analyze a vitality index for human resources development in banks. As regards uncertainty, the factor weights for the vitality index were determined by using the Fuzzy Delphi Method (FDM). Through the process of fuzzy synthetic decision (FSD) analysis, the model calculated the relative importance for each dimension of the mean factor. In this empirical study of commercial banks, the priority rank for the five dimensions are as follow: Efficiency, Leadership, Business Culture, Talents and Strategy.
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