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Measuring Relative Efficiency of Commercial Banks in Bahrain Using Data Envelopment Analysis
Minwir Al-Shammari,
Seref Turen,
Mohamed S. Abou El-Seoud
Issue:
Volume 2, Issue 6, December 2014
Pages:
297-305
Received:
6 November 2014
Accepted:
17 November 2014
Published:
20 November 2014
Abstract: The study aims at measuring relative efficiency of seven banks listed on Bahrain Bourse under the commercial banks sub-sector over the period 2008-2012 by employing Data Envelopment Analysis (DEA) as a special linear programming model that assesses relative efficiency of decision-making units (DMUs) using multiple incommensurable input and multiple incommensurable output measures. By adopting the production approach of DEA with restricted choice of variables, the study has isolated the relatively efficient banks that achieved total efficiency score from those that could not achieve it. The study has also identified input and output slacks of inefficient banks and suggested the efficient input and output targets for improvement.
Abstract: The study aims at measuring relative efficiency of seven banks listed on Bahrain Bourse under the commercial banks sub-sector over the period 2008-2012 by employing Data Envelopment Analysis (DEA) as a special linear programming model that assesses relative efficiency of decision-making units (DMUs) using multiple incommensurable input and multiple...
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Determinants of Quality Management Practices in Kenyan Sugar Processing Industry: A Case of Chemelil Sugar Company
Quinter Omware,
Raphael Nyonje,
Muma Benard
Issue:
Volume 2, Issue 6, December 2014
Pages:
306-312
Received:
21 November 2014
Accepted:
27 November 2014
Published:
29 November 2014
Abstract: This study focused on determinants of quality management practices in Kenyan Sugar Processing Industry. Due to sparse distribution of the sugar processing firms in the country, Chemelil Sugar Company was used as a case for the study. Literature was reviewed on: Demographic factor; Top management commitment, Training factors, Organizational culture and Government policy. Qualitative research design was used; specifically descriptive survey. Probability sampling specifically stratified sampling at the departments of; Finance & Administration, Factory, Marketing & corporate services, Training & Welfare and finally at Agriculture & Field services was used. The main research instrument used was self-administered questionnaire. Target population was 861 employees at CSCL, 266 respondents were sampled during data collection; Reliability and Validity of instrument was tested by carrying out a pilot study involving 50 respondents. After fieldwork, the data was organized according to the population studied. Data collected was analyzed using descriptive statistics and by aid of SPSS computer software. Hypothesis `was used and tested using Chi-Square applied at 5% significant level. Data was presented in table format. Summary of findings revealed that|: Demographic characteristics with indicators of age, gender and education is a determinant of quality practice. It was evident that there was lack of top management commitment and training which has stagnated improvement of QMS. The study recommends that the organization need to benchmark their quality practices with organizations that have succeeded in quality management. There is need to train all staff on current quality practices and develop an all-inclusive policy that gives all the gender equal opportunity to suggest on quality assurance changes and ensure continuous improvement of quality process by applying principles like Kaizen that encourages small but significant changes is not an option. Crucially further research should be done to determine if hiring of employees at CSCL has influence on organizational culture, to find out sustainability factor and funding of Quality Assurance System at implementation stage and assess trailing and training succession program at CSCL.
Abstract: This study focused on determinants of quality management practices in Kenyan Sugar Processing Industry. Due to sparse distribution of the sugar processing firms in the country, Chemelil Sugar Company was used as a case for the study. Literature was reviewed on: Demographic factor; Top management commitment, Training factors, Organizational culture ...
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Two Product, Two Region Production, Inventory, and Transportation Problems
Jong Hyup Lee,
Jung Man Hong
Issue:
Volume 2, Issue 6, December 2014
Pages:
313-318
Received:
14 November 2014
Accepted:
30 November 2014
Published:
2 December 2014
Abstract: A deterministic production and transportation planning problem is considered over a finite time horizon for two products that can be produced in each of two regions. Each region uses its own facility to supply the demands for two products. Demands for product 2 in one region can be satisfied either by its own production or by transportation from other region, while no transportation between two regions is allowed for product 1. Production, inventory and transportation costs are assumed to be non-decreasing and concave. The objective is to find the schedule of production and transportation in each region by which the total cost over the horizon is minimized. Using a network flow approach, we develop a dynamic programming algorithm that can find an optimal policy.
Abstract: A deterministic production and transportation planning problem is considered over a finite time horizon for two products that can be produced in each of two regions. Each region uses its own facility to supply the demands for two products. Demands for product 2 in one region can be satisfied either by its own production or by transportation from ot...
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Valuation, Downside Risk Measures and Asymmetric Information: A Portfolio Optimization Approach
Yoram Kroll,
Moshe Ben-Horin
Issue:
Volume 2, Issue 6, December 2014
Pages:
319-331
Received:
16 February 2014
Accepted:
25 April 2014
Published:
5 December 2014
Abstract: This paper proposed optimal equilibrium portfolio algorithm for valuing assets. When mean variance criterion is assumed, the proposed procedure and the conventional CAPM yield identical valuations. When a downside risk measures are employed and the distributions are asymmetric, the proposed algorithm and the three moments extensions of CAPM may yield close, but not necessarily identical, valuations. Our semi-variance results are identical to those of Bawa& Lindenberg, but in contrast to those of Estrada's downside risk extension of CAPM. The impact on valuation of "Mean Variance Preserving Shifts" and asymmetrical information regarding future cash flows are demonstrated by the proposed model.
Abstract: This paper proposed optimal equilibrium portfolio algorithm for valuing assets. When mean variance criterion is assumed, the proposed procedure and the conventional CAPM yield identical valuations. When a downside risk measures are employed and the distributions are asymmetric, the proposed algorithm and the three moments extensions of CAPM may yie...
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Top Management Commitment Towards Implementation of Total Quality Management (TQM) in Construction Companies in Nakuru County-Kenya
Bonventure Wesonga Oruma,
John Momanyi Mironga,
Benard Onyango Muma
Issue:
Volume 2, Issue 6, December 2014
Pages:
332-338
Received:
25 November 2014
Accepted:
2 December 2014
Published:
17 December 2014
Abstract: The construction companies are faced with a lot of challenges especially in the choice of management approaches that they use to produce products that continuously meet customer needs and expectation in regard to quality issues. One of the management approaches being used to achieve continuous quality improvement in the construction industry is Total Quality Management (TQM). This study sought to determine the factors influencing implementation of TQM in construction companies in Nakuru County. Questionnaires and structured questionnaires involving the participation of over 15 construction companies were used as the main tools for this study. The findings of this study revealed that Top Management Commitment is a critical factor affecting the implementation of TQM in construction companies in Nakuru County. The study thus recommends that construction industry sector give this factor special consideration when developing their TQM approaches. The study further recommends that studies be done to explore other factors other than top management commitment affecting the implementation and success of TQM.
Abstract: The construction companies are faced with a lot of challenges especially in the choice of management approaches that they use to produce products that continuously meet customer needs and expectation in regard to quality issues. One of the management approaches being used to achieve continuous quality improvement in the construction industry is Tot...
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Foreign Direct Investment and Economic Growth in Bangladesh Economy
Issue:
Volume 2, Issue 6, December 2014
Pages:
339-346
Received:
28 November 2014
Accepted:
9 December 2014
Published:
17 December 2014
Abstract: The paper attempted to investigate the dependence of gross domestic product (GDP) on foreign direct investment (FDI), external debt (ED) and remittance (REM) based on annual data from 1986 to 2013. The selected variables were gross domestic product (GDP), foreign direct investment (FDI), external debt (ED) and remittances (REM). Results have been analyzed by using advanced econometric tools like- unit root test (both ADF and PP), OLS methods and Granger causality test. The results confirmed that, both FDI and REM have positive relationship with GDP, where as ED has negative influence on GDP of Bangladesh. In order to minimize the gap between domestic saving and investment and to bring the technology and managerial know-how, FDI could play important role on the way of economic development of Bangladesh. Similarly remittance (REM) is also playing an important role in the economic development by increasing the foreign currency reserve and strengthening the foreign exchange rate. Therefore, government should take pragmatic policy, develop infrastructure, stabilized the political environment, law and order situation. On the other hand it should decrease the dependence on external debt (ED). If Bangladesh pay due attention to the role of FDI in the economic development it can facilitate human capital formation, domestic investment and technology transfer in the country.
Abstract: The paper attempted to investigate the dependence of gross domestic product (GDP) on foreign direct investment (FDI), external debt (ED) and remittance (REM) based on annual data from 1986 to 2013. The selected variables were gross domestic product (GDP), foreign direct investment (FDI), external debt (ED) and remittances (REM). Results have been a...
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The Effect of Working Capital Management on Profitability
Ntui Ponsian,
Kiemi Chrispina,
Gwatako Tago,
Halim Mkiibi
Issue:
Volume 2, Issue 6, December 2014
Pages:
347-355
Received:
2 December 2014
Accepted:
11 December 2014
Published:
19 December 2014
Abstract: The purpose of this study is to find out the effect of working capital management on company profitability. The study aims at examining the statistical significance between company’s working capital management and profitability. In light of this objective the study adopts quantitative approaches to test a series of research hypotheses. A sample of three (3) manufacturing companies listed on the Dar es Salaam Stock Exchange (DSE) is used for a period of ten years (2002-2012) with the total of 30 observations. Data is analyzed on quantitative basis using Pearson’s correlation and Regression analysis (Ordinary Least Square). The key findings from the study are; Firstly, there exists a positive relationship between cash conversion cycle and profitability of the firm. This means that as the cash conversion cycle increases it will lead to an increase in profitability of the firm, and managers can create a positive value for the shareholders by increasing the cash conversion cycle to a reasonable level; Secondly, there is a negative relationship between liquidity and profitability showing that as liquidity decreases, the profitability also increases; Thirdly, there exists a highly significant negative relationship between average collection period and profitability indicating that a decrease in the number of days a firm receives payment from sales affects the profitability of the firm positively; Fourthly, there is a highly significant positive relationship between average payment period and profitability. This implies that the longer a firm takes to pay its creditors, the more profitable it is.; and Fifthly, there exists a highly significant negative relationship between inventory turnover in days and profitability hinting that firms which maintain sufficiently low inventory levels reduce the cost of storing the inventory which results to higher profitability.
Abstract: The purpose of this study is to find out the effect of working capital management on company profitability. The study aims at examining the statistical significance between company’s working capital management and profitability. In light of this objective the study adopts quantitative approaches to test a series of research hypotheses. A sample of ...
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Testing the Foreign Exchange Parity Relations: A Case Analysis of UK Sterling, Japanese Yen and Us Dollar
Issue:
Volume 2, Issue 6, December 2014
Pages:
356-361
Received:
28 November 2014
Accepted:
9 December 2014
Published:
27 December 2014
Abstract: Since the financial globalization has expanded and developed increasingly fast in recent years, the international parity relationships have been extensively studied due to their importance in international trade and investment. This paper investigates purchasing power parity (PPP), interest rate parity (IRP) and unbiased expectation hypothesis by analyzing three main currencies; UK sterling, Japanese Yen and US dollar during 2008 to 2010. Further, forward premium or discount is calculated and interpret in the study with time series data and ordinary least square (OLS) regression methodologies. It was found that, the unbiased expectation hypothesis and international interest parity holds for Japan-US case but does not hold for Japan-UK case. Finally, the purchasing Power Parity (PPP) holds for both two cases, which is varies with most previous literature.
Abstract: Since the financial globalization has expanded and developed increasingly fast in recent years, the international parity relationships have been extensively studied due to their importance in international trade and investment. This paper investigates purchasing power parity (PPP), interest rate parity (IRP) and unbiased expectation hypothesis by a...
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Factors Influencing Performance of Children Homes and Rehabilitation Centers within Nakuru Municipality and its Environs, Kenya
Susan Nyamai,
Maina Waiganjo
Issue:
Volume 2, Issue 6, December 2014
Pages:
362-377
Received:
18 December 2014
Accepted:
5 January 2015
Published:
12 January 2015
Abstract: The street children phenomenon in Kenya has long been regarded a perennial problem of the urban areas of the country and often viewed with disdain by most people in the society due to the menacing behavior of the children. This study investigated the factors influencing performance of street children rehabilitation centers in Kenya and was conducted among children homes in Nakuru municipality. The objectives of the study were: to establish the effect of government policies & regulations on street children rehabilitation projects performance; to evaluate the extent of the effect of financial resources on street children rehabilitation projects performance in and to assess the importance of the managerial skills on street children rehabilitation projects performance. This was a descriptive survey research, targeting two of the senior most rehabilitation managers in the 38 street children rehabilitation centers within Nakuru Municipality bringing the estimated population to 60 respondents. Data was collected through semi structured questionnaires. The instruments were pilot tested before the actual study to ascertain the validity and reliability. The data analysis done using Excel and results were presented in tables. Findings on the objectives revealed high levels of familiarity with the government policies and regulations although compliance rate was still average due to the nature of the regulations which presented a limiting work environment. The level of funding was adequate in most cases, funding allocation prioritized on food, education and medical care. Budget deficits were mainly offset by faming and fundraising. Financial control systems in place were reported as reliable, thus, properly positioning the Homes for better growth prospects. Most of the managers had formal managerial training with project management being the most subscribed course. Strategic planning was practiced in most institutions although the concepts and methods of strategic planning still wanting in some cases. The communities were generally appreciative of the presence of the homes as reform institutions in their neighborhoods. Fewer complaints and many were compliments given to the Homes due to the perceived nobility of the projects. Less material support was available due to misinformation about the nature of the projects. There is need for more consultative engagement among all stakeholders in entrenching the rights and welfare of the abandoned and orphaned children in all legal documents both locally and internationally. This will go a long way in ensuring the wellbeing of these children and make them better citizens of the world tomorrow.
Abstract: The street children phenomenon in Kenya has long been regarded a perennial problem of the urban areas of the country and often viewed with disdain by most people in the society due to the menacing behavior of the children. This study investigated the factors influencing performance of street children rehabilitation centers in Kenya and was conducte...
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