Pub Date : 2016-09-28DOI: 10.11648/J.HTM.20160102.11
Anastasios Magoutas, George Papadoudis, G. Sfakianakis
This paper aims at determining the critical factors affecting the profitability of the tourism sector in Greece, by using data for an extensive panel of Greek tourism enterprises for 2005-2011 period. As the Greek economy is still in a deep and prolonged recession, exploring profitability issues in specific sectors could help identify those sectors which could act as drivers of growth for the Greek economy out of the recession. The tourism sector, which accounts for almost 25% of GDP in Greece (directly and indirectly), is an obvious candidate for contributing to this end. The econometric results suggest that the recent crisis has resulted to a differentiation of the determinants of profitability of Greek tourism firms.
{"title":"The Financial Performance of Greek Hotels Before and During the Crisis","authors":"Anastasios Magoutas, George Papadoudis, G. Sfakianakis","doi":"10.11648/J.HTM.20160102.11","DOIUrl":"https://doi.org/10.11648/J.HTM.20160102.11","url":null,"abstract":"This paper aims at determining the critical factors affecting the profitability of the tourism sector in Greece, by using data for an extensive panel of Greek tourism enterprises for 2005-2011 period. As the Greek economy is still in a deep and prolonged recession, exploring profitability issues in specific sectors could help identify those sectors which could act as drivers of growth for the Greek economy out of the recession. The tourism sector, which accounts for almost 25% of GDP in Greece (directly and indirectly), is an obvious candidate for contributing to this end. The econometric results suggest that the recent crisis has resulted to a differentiation of the determinants of profitability of Greek tourism firms.","PeriodicalId":42560,"journal":{"name":"Journal of Investment Management","volume":"1 1","pages":"11"},"PeriodicalIF":0.8,"publicationDate":"2016-09-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"64786543","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2016-09-24DOI: 10.11648/J.JIM.20160505.13
Francis Mathenge Kingo’ri, J. Kwasira
Over the recent past, quality of health care has been a major concern for various stakeholders in Kenya. A number of programs such as Beyond Zero campaign, investment in Kidney Dialysis machines, Cancer Scanning machines among others have been launched towards quality health care. It is in this light that this study delves into the influence of public procurement planning practices on provision of quality health care services. Procurement planning involves material requirement planning, resource planning and capacity planning which will be linked to health care service quality. The indicators of procurement planning are used to formulate the specific objectives. The theories on which the study was based on include the Resource Based View Theory and Systems Theory. The research used survey design as only one organization was studied. Therefore, the target population was comprised of top, middle and lower level managers which totals to 98 at Nakuru General Hospital. The study adopted stratified random sampling which gave a sample of 79 managers to be included in the study. Questionnaire was used to collect necessary data and the questionnaire was closed ended. The data collected was then processed using SPSS. Inferential statistics was conducted to test the relationship between the variable where Karl Pearson correlation coefficient was used. Further, descriptive statistics was used where mean and standard deviation were used for generalization of respondent’s opinions. The findings of the study are beneficial towards enhancing health care quality at the Nakuru Level V Hospital. Further, it is beneficial to other Hospitals around the Country struggling with offering quality health care services with respect to the role of procurement planning in achieving the same. The results (p = 0.001) indicated that there is a statistically significant relationship between public procurement planning practices and provision of quality health care because P value is less than 0.05. Regarding the influence of public procurement planning and quality health care, the study established that capacity planning had the greatest influence on quality health care (Beta =.372), followed by master production schedule (Beta = .359), then resource planning (Beta=.117) and finally material requirement planning which had a Beta of .132.
{"title":"Analysis of Public Procurement Planning Practices on Provision of Quality Health Care Services at Nakuru Level V Hospital, Kenya","authors":"Francis Mathenge Kingo’ri, J. Kwasira","doi":"10.11648/J.JIM.20160505.13","DOIUrl":"https://doi.org/10.11648/J.JIM.20160505.13","url":null,"abstract":"Over the recent past, quality of health care has been a major concern for various stakeholders in Kenya. A number of programs such as Beyond Zero campaign, investment in Kidney Dialysis machines, Cancer Scanning machines among others have been launched towards quality health care. It is in this light that this study delves into the influence of public procurement planning practices on provision of quality health care services. Procurement planning involves material requirement planning, resource planning and capacity planning which will be linked to health care service quality. The indicators of procurement planning are used to formulate the specific objectives. The theories on which the study was based on include the Resource Based View Theory and Systems Theory. The research used survey design as only one organization was studied. Therefore, the target population was comprised of top, middle and lower level managers which totals to 98 at Nakuru General Hospital. The study adopted stratified random sampling which gave a sample of 79 managers to be included in the study. Questionnaire was used to collect necessary data and the questionnaire was closed ended. The data collected was then processed using SPSS. Inferential statistics was conducted to test the relationship between the variable where Karl Pearson correlation coefficient was used. Further, descriptive statistics was used where mean and standard deviation were used for generalization of respondent’s opinions. The findings of the study are beneficial towards enhancing health care quality at the Nakuru Level V Hospital. Further, it is beneficial to other Hospitals around the Country struggling with offering quality health care services with respect to the role of procurement planning in achieving the same. The results (p = 0.001) indicated that there is a statistically significant relationship between public procurement planning practices and provision of quality health care because P value is less than 0.05. Regarding the influence of public procurement planning and quality health care, the study established that capacity planning had the greatest influence on quality health care (Beta =.372), followed by master production schedule (Beta = .359), then resource planning (Beta=.117) and finally material requirement planning which had a Beta of .132.","PeriodicalId":42560,"journal":{"name":"Journal of Investment Management","volume":"5 1","pages":"51"},"PeriodicalIF":0.8,"publicationDate":"2016-09-24","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"64816991","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2016-09-10DOI: 10.11648/J.JIM.20160505.12
Zhao Rui-jie, Tan Li-chun
The small and medium-sized enterprises occupy the important position of the Chinese economy in the quantity and the contribution to the economy. Due to the shortage of funds, lack of technology and the lack of professional talents, small and medium-sized enterprises are facing the bottleneck of information construction. Therefore this paper puts forward a cloud service model in the information construction. This paper compares the differences between cloud computing and traditional patterns in the aspects of stability, flexibility, cost, and security. The practical significance of the cloud model is also discussed. Cloud model can improve the operational efficiency of the existing equipment, reduce the initial investment and operating costs, including management, update, and reduce the overall cost of the user. Finally, verify the cost advantage of information construction by using the actual data of small and medium-sized enterprises. Cloud model in two aspects of software cost and service cost advantages. Thus, we provide a new way to solve the bottleneck of information construction in small and medium-sized enterprises.
{"title":"Small and Medium-Sized Enterprise Information Construction Research Based on Cloud Computing","authors":"Zhao Rui-jie, Tan Li-chun","doi":"10.11648/J.JIM.20160505.12","DOIUrl":"https://doi.org/10.11648/J.JIM.20160505.12","url":null,"abstract":"The small and medium-sized enterprises occupy the important position of the Chinese economy in the quantity and the contribution to the economy. Due to the shortage of funds, lack of technology and the lack of professional talents, small and medium-sized enterprises are facing the bottleneck of information construction. Therefore this paper puts forward a cloud service model in the information construction. This paper compares the differences between cloud computing and traditional patterns in the aspects of stability, flexibility, cost, and security. The practical significance of the cloud model is also discussed. Cloud model can improve the operational efficiency of the existing equipment, reduce the initial investment and operating costs, including management, update, and reduce the overall cost of the user. Finally, verify the cost advantage of information construction by using the actual data of small and medium-sized enterprises. Cloud model in two aspects of software cost and service cost advantages. Thus, we provide a new way to solve the bottleneck of information construction in small and medium-sized enterprises.","PeriodicalId":42560,"journal":{"name":"Journal of Investment Management","volume":"11 1","pages":"45"},"PeriodicalIF":0.8,"publicationDate":"2016-09-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"64816921","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2016-09-10DOI: 10.11648/j.jim.20160505.11
Zeng Xiaolong, Wang Shuhui
Since the 1970s, international trade and investment patterns have occurred great changes, also the production organization of international enterprises had undergone profound changes. Intra-industry trade gradually replace the inter-industry trade, has become the main form of international trade. After 1980s, the multinational enterprises got unprecedented development. All the data are from the U.S. Bureau of Economic Analysis and the World Bank.
{"title":"Research on the Selection of Vertical and Horizontal Type of the Foreign Direct Investment of Multinational Enterprise and Its Influencing Factors","authors":"Zeng Xiaolong, Wang Shuhui","doi":"10.11648/j.jim.20160505.11","DOIUrl":"https://doi.org/10.11648/j.jim.20160505.11","url":null,"abstract":"Since the 1970s, international trade and investment patterns have occurred great changes, also the production organization of international enterprises had undergone profound changes. Intra-industry trade gradually replace the inter-industry trade, has become the main form of international trade. After 1980s, the multinational enterprises got unprecedented development. All the data are from the U.S. Bureau of Economic Analysis and the World Bank.","PeriodicalId":42560,"journal":{"name":"Journal of Investment Management","volume":"5 1","pages":"39"},"PeriodicalIF":0.8,"publicationDate":"2016-09-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"64816851","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2016-08-23DOI: 10.11648/j.jim.20160504.12
Depeng Fan
The article is set in the second factory of company H and analyzes the present situation and the existence question in the inbound logistics of the factory. A milk-run pickup system is proposed to solve the current predicament of the inbound logistics. The article researches the problems that may happen in milk-run, and then puts forward the corresponding countermeasures to implement smoothly milk-run in the inbound logistics.
{"title":"Research of Inbound Mode for Automobile Parts Logistics Based on the Second Factory of Company H","authors":"Depeng Fan","doi":"10.11648/j.jim.20160504.12","DOIUrl":"https://doi.org/10.11648/j.jim.20160504.12","url":null,"abstract":"The article is set in the second factory of company H and analyzes the present situation and the existence question in the inbound logistics of the factory. A milk-run pickup system is proposed to solve the current predicament of the inbound logistics. The article researches the problems that may happen in milk-run, and then puts forward the corresponding countermeasures to implement smoothly milk-run in the inbound logistics.","PeriodicalId":42560,"journal":{"name":"Journal of Investment Management","volume":"5 1","pages":"34"},"PeriodicalIF":0.8,"publicationDate":"2016-08-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"64817166","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2016-08-18DOI: 10.11648/J.JIM.20160504.11
Cui Zhe, Chen Meng
The capital structure of a company reflects the proportional relation of a company’s debts and equity, which decides the ability of debt paying, refinance refunding and the profit in the future to a great extent. It is an important index of company’s financial condition. The decision-making power of a company is its core competitiveness, although competitiveness is secluded, we can express this abstract ability with concrete content and index when it comes to practice. Common core factors or ability indexes include innovative technology, employees, excellent company culture and brand impact. The paper studies and analyses the connection impact between the capital structure and the decision-making power referring to domestic and foreign data, it also combines the situation of the companies in our country.
{"title":"The Research of the Relation Between Capital Structure Decision and Core Competitiveness","authors":"Cui Zhe, Chen Meng","doi":"10.11648/J.JIM.20160504.11","DOIUrl":"https://doi.org/10.11648/J.JIM.20160504.11","url":null,"abstract":"The capital structure of a company reflects the proportional relation of a company’s debts and equity, which decides the ability of debt paying, refinance refunding and the profit in the future to a great extent. It is an important index of company’s financial condition. The decision-making power of a company is its core competitiveness, although competitiveness is secluded, we can express this abstract ability with concrete content and index when it comes to practice. Common core factors or ability indexes include innovative technology, employees, excellent company culture and brand impact. The paper studies and analyses the connection impact between the capital structure and the decision-making power referring to domestic and foreign data, it also combines the situation of the companies in our country.","PeriodicalId":42560,"journal":{"name":"Journal of Investment Management","volume":"67 1","pages":"25"},"PeriodicalIF":0.8,"publicationDate":"2016-08-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"64816965","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2016-07-28DOI: 10.11648/J.JIM.20160503.11
Wei Guochen, Chen Xiaochun, L. Cai
Along with the fast economic development as well as the increase of consciousness for the food safety, the market demand for live fresh food also increases. In recent years, regarding to fresh meat food quality is more and more important in our country, because the special nature of fresh meat, it extremely easy to receive the microorganism pollution to deteriorate. But lack the research on the fresh meat cold chain physical distribution grade of service appraisal system and about the establishment of model. Based on this, the article takes the fresh meat enterprise as the object to determine the service quality evaluation index of fresh meat cold chain logistics, and establishes the corresponding evaluation model according to FAHP. Then according to its actual enterprises to carry out the verification of the model provide feasible theoretical guidance and reference for the enterprise to find and solve problems.
{"title":"Research on Fresh Meat Cold Chain Logistics Service Quality Model Based on Supply Chain","authors":"Wei Guochen, Chen Xiaochun, L. Cai","doi":"10.11648/J.JIM.20160503.11","DOIUrl":"https://doi.org/10.11648/J.JIM.20160503.11","url":null,"abstract":"Along with the fast economic development as well as the increase of consciousness for the food safety, the market demand for live fresh food also increases. In recent years, regarding to fresh meat food quality is more and more important in our country, because the special nature of fresh meat, it extremely easy to receive the microorganism pollution to deteriorate. But lack the research on the fresh meat cold chain physical distribution grade of service appraisal system and about the establishment of model. Based on this, the article takes the fresh meat enterprise as the object to determine the service quality evaluation index of fresh meat cold chain logistics, and establishes the corresponding evaluation model according to FAHP. Then according to its actual enterprises to carry out the verification of the model provide feasible theoretical guidance and reference for the enterprise to find and solve problems.","PeriodicalId":42560,"journal":{"name":"Journal of Investment Management","volume":"5 1","pages":"17"},"PeriodicalIF":0.8,"publicationDate":"2016-07-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"64816840","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2016-07-22DOI: 10.11648/J.JIM.20160502.11
Asamnew Techan Demeke
In this study the effects of board characteristics (specifically proportion of outsiders in the board, board size, CEO-Chairman duality, and board meeting frequency), debt policy, and dividend policy are investigated in the Ethiopian context using two theories of corporate governance, which are agency theory and stewardship theory. Financial performance is measured using return on assets and return on equity. The study used panel data and Pooled OLS regression to analyze the relationship between corporate governance mechanisms and firm performance using a data set of 8 insurance companies of Ethiopia over the period 2008-2012. The results show that proportion of outside directors, board size, debt ratio, and ownership have a significant negative effect on performance of insurance companies. However, boards meeting frequency, firm size and firm age, are identified to have a significant positive impact on firm performance. Dividend policy have no effect on firm performance while the effect of CEO-Chairman Duality remains untested since it is not practiced in any one of the insurance companies.
{"title":"Corporate Governance Mechanisms and Firm Performance: The Case of Ethiopian Insurance Industry","authors":"Asamnew Techan Demeke","doi":"10.11648/J.JIM.20160502.11","DOIUrl":"https://doi.org/10.11648/J.JIM.20160502.11","url":null,"abstract":"In this study the effects of board characteristics (specifically proportion of outsiders in the board, board size, CEO-Chairman duality, and board meeting frequency), debt policy, and dividend policy are investigated in the Ethiopian context using two theories of corporate governance, which are agency theory and stewardship theory. Financial performance is measured using return on assets and return on equity. The study used panel data and Pooled OLS regression to analyze the relationship between corporate governance mechanisms and firm performance using a data set of 8 insurance companies of Ethiopia over the period 2008-2012. The results show that proportion of outside directors, board size, debt ratio, and ownership have a significant negative effect on performance of insurance companies. However, boards meeting frequency, firm size and firm age, are identified to have a significant positive impact on firm performance. Dividend policy have no effect on firm performance while the effect of CEO-Chairman Duality remains untested since it is not practiced in any one of the insurance companies.","PeriodicalId":42560,"journal":{"name":"Journal of Investment Management","volume":"5 1","pages":"6"},"PeriodicalIF":0.8,"publicationDate":"2016-07-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"64817252","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2016-06-23DOI: 10.11648/J.JIM.20160501.11
Bindi Varghese
Tourism is a strategic economic activity in Karnataka, but the uniqueness of the governing bodies accentuates on integrated planning pioneering with several distinguishing features. The urban and territorial changes caused by tourism are well introspected areas in contemporary scientific literature. This research adopts an integrative approach with a framework connecting scientific traditions of destination management and competitiveness with a case study examining in-depth reliability of Destination Management Organizations (DMOs) in destination governance and narrates upon the essentiality of stakeholder participation in destination decision making process. Most pertinent functions of the Destination Management Organization (DMO) are to facilitate the corporation and collaboration of stakeholder within the destination. Primarily in times of crisis where collaboration and collective decision making is a priority; many destinations today are not equipped to combat such crisis which consecutively take a toll on the destination and unfavourably affect the tourists visiting the destination leaving behind a negative impression which can adversely affect the tourism integrity of the destination.
{"title":"Destination Governance and a Strategic Approach to Crisis Management in Tourism","authors":"Bindi Varghese","doi":"10.11648/J.JIM.20160501.11","DOIUrl":"https://doi.org/10.11648/J.JIM.20160501.11","url":null,"abstract":"Tourism is a strategic economic activity in Karnataka, but the uniqueness of the governing bodies accentuates on integrated planning pioneering with several distinguishing features. The urban and territorial changes caused by tourism are well introspected areas in contemporary scientific literature. This research adopts an integrative approach with a framework connecting scientific traditions of destination management and competitiveness with a case study examining in-depth reliability of Destination Management Organizations (DMOs) in destination governance and narrates upon the essentiality of stakeholder participation in destination decision making process. Most pertinent functions of the Destination Management Organization (DMO) are to facilitate the corporation and collaboration of stakeholder within the destination. Primarily in times of crisis where collaboration and collective decision making is a priority; many destinations today are not equipped to combat such crisis which consecutively take a toll on the destination and unfavourably affect the tourists visiting the destination leaving behind a negative impression which can adversely affect the tourism integrity of the destination.","PeriodicalId":42560,"journal":{"name":"Journal of Investment Management","volume":"5 1","pages":"1"},"PeriodicalIF":0.8,"publicationDate":"2016-06-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"64817189","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2015-12-16DOI: 10.11648/J.JIM.20150406.25
Zeynep Topaloglu
In this study we examine the acquirer-advisor relation in mergers and acquisitions. Among other issues we study the effect of this relation in major industry sectors. We have found that the average log abnormal return from acquirer-advisor relation is $0.5 millions. Relationship advisers are rewarding in the range of $1.5 millions to $2.5 millions in all sectors except media, consumer products and services, high technology, industrials and real estate.
{"title":"Industry Variations of Relationship Banking in Mergers and Acquisitions","authors":"Zeynep Topaloglu","doi":"10.11648/J.JIM.20150406.25","DOIUrl":"https://doi.org/10.11648/J.JIM.20150406.25","url":null,"abstract":"In this study we examine the acquirer-advisor relation in mergers and acquisitions. Among other issues we study the effect of this relation in major industry sectors. We have found that the average log abnormal return from acquirer-advisor relation is $0.5 millions. Relationship advisers are rewarding in the range of $1.5 millions to $2.5 millions in all sectors except media, consumer products and services, high technology, industrials and real estate.","PeriodicalId":42560,"journal":{"name":"Journal of Investment Management","volume":"4 1","pages":"409"},"PeriodicalIF":0.8,"publicationDate":"2015-12-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"64816818","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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