Volume 5, No. 2 June 2015

The Effect of Working Capital Level and Liquidity on Profitability of the Companies Listed In Tehran Stock Exchange
Adeleh Azadzadeh
The purpose of this study was to evaluate the effect of working capital level and liquidity on the profitability of the companies listed in Tehran Stock Exchange. To this end, a total of 84 companies were chosen during 2003-2010.CGS is used in this study as the working capital index and current ratio is used as an indicator of liquidity and the impact of liquidity and the amount of working capital on the profitability was studied in 1 main hypothesis and 2 secondary hypotheses. To test the hypotheses, multiple regression was used. Results show that the amount of working capital and liquidity affect the profitability of firms in different industries, and these results are fixed in the timeframe being investigated.
Keywords: Working Capital Level, Liquidity, Profitability, Industry
Antecedents of online purchase intention: A Cross-national study between Iran and Malaysia.
Seyyed Mohammad Sadiq Es-haghi, Mona Afshardoost and Mohammad Mehdi Ahmadi
This study examines how cultural values influence consumer decision-making with respect to online purchase intention in Iran and Malaysia. The findings suggest that cultural values are antecedents to Website trust, perceived Website privacy and website quality. As a result, comparing the Iranian and Malaysian models of online purchase intention, Website trust significantly affected the frequency of online shopping in the Malaysian model, but it did not in the Iranian model. The perceived Website privacy and Website quality significantly affected online shopping frequency in the Iranian model, but not in the Malaysian model. The implications of the study were discussed.

Keywords: Cross-Cultural Research, Structural Equation Modeling, Hofstede, Online Purchase Intention, Perceived Website Quality.
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The Cultural Impact on International Marketing Strategy, With a Special Emphasis of Bangladesh Perspective
Rashed Al Karim
The purpose of this paper is to examine on the one hand, the importance of the effect of cultural negotiating in an international marketing strategy. This side covers cultural elements such as language, religion, social factors, and how these impact on an international marketing strategy. On the other hand it covers on (Bangladesh side), how culture influences of marketing strategy, what is the main cultural business organization of Bangladesh, how they are doing their business following the cultural strategy and also Bangladesh business environment. The main purpose of this research paper is how culture impacts on an international marketing strategy. In addition, the study also provided insights into the process, as well as direction for progression of the research stream dealing with the behavioural aspect of the international marketing of any organization. The methodology demonstrates that a systematic approach was used in planning the investigation. Various key cultural factors are considered in international business strategy negotiation, with example and suggestions as how to these can be used to achieve success. The findings and analysis chapter presents the qualitative results of the research as outlined in the methodology. The conclusion presents a summary of the work and the conclusions drawn from it. It outlines the strengths and limitations of the study, together with suggested areas for further research.
Keywords: International marketing strategy, International business environment, Culture, Cultural elements, International vendors.
Problems in Micro Financing Of Bangladesh: A Study on Grameen Bank
Md. Ferdausur Rahman, Md. Rabiul Islam, Abul Bashar Bhuiyan and A M Mokarrom Hossain Khan
Bangladesh has been perhaps the most important hearth on the globe for micro finance providing organizations. In recent years, micro credit or in its wider dimension micro finance has become a much favored intervention for poverty alleviation in the developing and least developed countries. Grameen Bank assists the rural poor to reduce their poverty and for socio economic development by micro financing. In this context, the employees of GB work at grass- root level. After providing a loan to the clients, Field officers collect the amount of installment by visiting their clients’ houses. In addition to this, they provide direct service for the utilization of loan. Since the clients are less educated and encompassed with their local culture, so the field officers are to face of various types of problems. The purpose of the study is to find out the problems faced by the women entrepreneurs and bank personnel at the time of executing micro finance of Grameen Bank in Bangladesh. In view of the above, a total number of 100 clients from 5 bank branches and 20 bank personnel of GB were interviewed for the study. Two sets of interview schedules were used to collect data from the respondents. To overcome the problems and for playing a sustainable role by GB on women entrepreneurship development through micro finance we suggest some recommendations.
The Organizational Citizenship Behavior and Intellectual Capital Growth of Employees` Empowerment
Meisam Dehnad
In today's world, known as the world of organizations, human resources considered as the most valuable resource has been the center of approaches and activities and it plays an essential role in promoting the goals and objectives of the organization. Faced with the fact that the mechanical paradigms do not meet the expectations and requirements of organization, it has led organizations to seek other paths to achieve competitive advantages. Taking new approaches in to account, the growth of intellectual capital and organizational citizenship behavior can be pointed out. Development of practices going beyond the role of formal expectations requires important infrastructures. This mentioned empowerment plays an important role in describing social exchange of organizational citizenship behavior. On the other hand, in the knowledge-based economy, the intellectual capital is used to create and share knowledge and to enhance enterprise values. In addition, higher organization’s success for themanagement of this scarce resource depends on enjoying more powerful employees compared to the past. The research is descriptive and it studies the relationship between empowerment, organizational citizenship behavior, and the growth of intellectual capital. To collect the theoretical data and to extract initial factors and indicators, library and Internet resources were used and questionnaire was used to gather the data needed to evaluate the assumptions. In this study, random sampling method has been used due to vastness of statistical population ; non-parametric tests of fitness was used for inferential analysis of information ; and Pearson's correlation coefficient was used to determine the intensity of effect of independent variables on dependent ones. Research findings indicate that a positive and significant relationship exists between the dimensions of empowerment with organizational citizenship behavior and growth of Intellectual capital. In other words, becoming more empowered, employees` growth of intellectual capital has increased and the organization will enjoy more progressive staff.
Keywords: Empowerment, Organizational citizenship behavior, Intellectual capital.
Recruitment & Selection Procedure: A Case Study on Palmal Group
Md. Ferdausur Rahman, Md. Rabiul Islam and A M Mokarrom Hossain Khan3
In spite of the vast physical resources and the latest technology, an organization finds itself in the midst of financial crisis if it does not have the right people to manage and conduct its affairs. Thus human resources are a very valuable asset without which an organization cannot progress in all direction. Recruitment and selection of personnel is of vital for any organization to select the right people in right place. For this every organization should have its own recruitment policy. The recruitment and selection system and related issue have been focused in this paper. The data used in the preparation of this paper are from both primary and secondary sources. Palmal Group of Industries has its Human Resource Department who prepares a budget about the required manpower with the discussion with other departmental head. Based on the Manpower planning and approved budget Recruitment and Selection are being done as and when needed. Whenever required, concerned department head & HR department jointly carried out the Selection process. The Recruitment and Selection process of Palmal Group of Industries is very much transparent in terms of selecting right people in right time and for the right job. For selecting a person, basic education qualification is a must while they also consider applicant’s experience, knowledge, capability and his/her future background. Sometimes applicants who are referred by the top level management gets some more favor form the recruiting board, salary level for the entry level employee is not at satisfactory level comparing with other. Though Palmal Group of Industries provides induction training before placing in job but I think they should provide
some more training related with job. Some time it seems nepotism but they should avoid it for 100% fair and transparent recruitment.
Developing a Model Representing the Priority and the Interaction of Factors Affecting Organizational Entrepreneurship
Masoud Ghodsi and Alireza Ouriat
The aim of the present study was to examine and develop the interactions among factors influencing organizational entrepreneurship. To this end, the nine factors of Attahir Model were used. These factors include: 1) effective management (the ability to make appropriate planning and the effective employment of human resources), 2) the government satisfactory support, 3) marketing agents (market research and demand), 4) the supply of products and services at the international level, 5) levels of education, 6) the availability of funds and the level of initial investment, 7) unique characteristics (self-reliance, charisma, persistence, local reputation, and trustworthiness), 8) previous business experiences and 9) political relations. In this study, the level of education was excluded and the remaining eight factors were used to develop an interactive model. The methods of analysis were the Delphi method and interpretive structural equation modeling. The results of the study suggested that the unique characteristics are the most influential among the eight factors under study. In addition the dynamics of the components of the model was confirmed.
Keywords: interpretive structural equation modeling, entrepreneurial factors, interaction.
Corporate Social Responsibilities (CSR) Themes from Bangladesh Perspective
Rashed al Karim and Md. Asaduzzaman
This study endeavors to understand the perceptions of the accounting community towards the theme of CSR in the context of Bangladesh. The existing literature was reviewed to establish the theme of corporate Social responsibilities (CSR). Theme of corporate social responsibility is a very delicate matter. While user claims they want to know about the good deeds of the companies they interact with, they can easily become leery of extrinsic motives when companies promote their CSR efforts. Surveys were conducted by distributing questionnaires in the Chittagong area among the various community (including top management from MNC, financial managers, government officials, bankers and external auditors) to gather data for this research. SPSS software package was used to present research data graphically and to test research hypothesis. The average value of Cronbach’s alpha is 0.782. From the findings of hypothesis it has been found that theme of Corporate Social Responsibility has significant impact on users’ perception where the themes of CSR were Human Resources, Product Safety, Fair Business Practices, Community Involvement, Environment and Energy. All five groups believe that the Bangladesh should be aware of their social responsibilities. Respondents agreed that the listed themes should constitute part of the organizations and also displayed same perceptions towards the listed themes.
Keywords: CSR, CSR Theme, CSR disclosure, Users’ Perceptions, MNCs
Permintaan Insurans Am Syarikat Insurans Am di Malaysia
Mustazar Mansur, Prof Madya Dr Alias Radam and Mohd Zukime Mat Junoh
Pasaran insurans di Malaysia semakin kompetitif sejak berlaku krisis ekonomi serta wujudnya kepentingan elemen kesolvenan setiap syarikat terhadap keyakinan pemegang insurans. Malah, terdapat syarikat insurans yang tersohor di pasaran terpaksa mengambil tindakan untuk dijual atau diambil alih akibat masalah kewangan atau keberhutangan syarikat mereka. Maka, setiap syarikat perlu tahu atau sedar bahawa penguasaan pasaran (penumpuan pasaran) yang tinggi tidak menjamin keutuhan atau prestasi yang baik pada masa depan. Penumpuan pasaran ini disokong oleh faktor-faktor permintaan ke atas pelbagai jenis insuran am yang ditawarkan oleh setiap firma. Titik tolak dari permasalah tersebut, kajian ini cuba menganalisis hubungan antara faktor-faktor yang mempengaruhi permintaan atau pembelian insurans am dengan kecekapan atau prestasi firma dalam industri ini di pasaran. Akhter & Rehman (2011) yang menganalisis prestasi kewangan industri insurans di Pakistan telah mengenalpasti beberapa petunjuk ekonomi utama yang mencipta permintaan insurans. Faktorfaktor ini telah menyumbang pencapaian kejayaan jangka panjang dan kelestasian pembangunan ekonomi di pasaran insurans. Manakala Cole et al (2009) pula cuba menguji teori permintaan perkhidmatan kewangan di pasaran yang luas tetapi kadar penumpuan pasaran yang masih rendah seperti di India dan Indonesia. Keputusan kajian mereka menunjukkan wujudnya kolerasi kuat antara literasi kewangan dan tingkahlaku pengguna di pasaran. Namun, program pendidikan kewangan di negera tersebut hanya mempunyai kesan sederhana, di samping peningkatan permintaan akaun bank yang perlahan yang disebabkan oleh tahap pendidikan atau literasi kewanganyang masih rendah. Wong Mei Foong (2002) yang mengkaji permintaan insurans hayat di Malaysia menunjukkan terdapat beberapa faktor makroekonomi yang mempengaruhi permintaan agregat insurans am di Malaysia. Secara umumnya terdapat beberapa pembolehubah akan digunakan untuk mengukur setiap elemen tersebut serta melihat hubungkait antara dua elemen tersebut. Menurut V.L.Bajtelsmit & R.Bouzouita (1998) terdapat hubungan signifikan yang positif antara kesan penumpuan pasaran ke atas keuntungan syarikat insurans kenderaan di US antara tahun 1984 hingga tahun 1992. Permasalahan ini cuba dirungkai menggunakan Model Regresi Berbilang untuk melihat hubungan beberapa pembolehubah utama dengan pembolehubah-pembolehubah lain. Keputusan kajian ini mendapati hanya faktor produktiviti iaitu nisbah produktiviti pengurusan (MPR) dan nisbah produktiviti buruh (LPR) yang mempengaruhi secara signifikan ke atas permintaan insurans am di pasaran. Selain itu, terdapat empat faktor lain yang signifikan iaitu tingkat
Penggunaan Analisis Faktor bagi Kajian Hubungan antara Faktorfaktor Peramal dengan Kecenderungan Pelajar Menceburi Kerjaya Keusahawanan
Wan Mohd Zaifurin Wan Nawang, Nor Hayati Sa’at, Sabri Ahmad dan Ibrahim Mamat.
Kajian ini bertujuan untuk mengenal pasti faktor-faktor peramal yang mempengaruhi kecenderungan pelajar menceburi kerjaya keusahawanan. Data kajian ini diperolehi daripada borang soal selidik diedarkan secara rawak kepada 379 orang pelajar sekolah menengah yang mengikuti Program Tunas Niaga di Negeri Terengganu. Penggunan analisis faktor menerbitkan lapan faktor peramal yang mempengaruhi kecenderungan pelajar menceburi kerjaya keusahawanan. Keputusan analisis faktor berjaya membangkitkan satu faktor peramal baru hasil gabungan item daripada pembolehubah asal. Faktor peramal baru ini dinamakan halangan. Meskipun analisis faktor dapat membentuk pembolehubah baru, namun wujud satu pembolehubah asal iaitu kebebasan digugurkan dari kajian ini. Item asal dalam pembolehubah ini berkorelasi dengan baik dalam konstruk lain. Kesemua lapan faktor peramal diklasifikasikan semulaberdasarkan senarai pendek yang diperolehi. Lapan faktor peramal ini disusun mengikut nilai eigenvalue tertinggi sebagai pembolehubah tidak bersandar bagi menerangkan pembolehubah lain. Model peranan dan halangan merupakan faktor peramal yang dominan mempengaruhi pelajar menceburi kerjaya keusahawanan.
Kata Kunci: Analisis faktor, kebolehpercayaan, ujian regresi.