A monetary model of balance of payments: The case of Venezuela

The monetary approach to the balance of payments has gained considerable appeal in the literature and is viewed as being concerned with the long run since it does not analyze the adjustment process of the balance of payments. The model developed in this paper is concerned essentially with the short-run implications of this approach and the model is applied to the case of Venezuela. The results were very encouraging for the monetary approach as the model was able to explain a great part of the fluctuations in the balance of payments of Venezuela during the period of study.     

Monetary policy in a cash‐in‐advance economy: employment, capital accumulation, and the term structure of interest rates

Abstract.  In this paper we study the effects of monetary policies on employment, capital accumulation, consumption, and the term structure of interest rates in a cash‐in‐advance economy, where money is required for consumption expenditures. Monetary policy involves targeting the inflation rate. The detailed dynamics of the model are fully worked out. As no numerical analysis is involved, we are able to identify very clearly the different channels through which monetary policy will impinge on the important macroeconomic variables. The model is also used to discuss the 'Great Canadian Slump.' JEL Classification: E52 and E43     

Consumer's Perception of Website Service Quality: An Empirical Study

With the increasing penetration of the Internet, service quality has become one of the key areas of concern for online shopping sites. Website service quality has become a vital factor in making e-commerce successful because comparing the features of products in the online environment is easier, practically free of cost, and saves on time in comparison to conventional offline markets. To empirically explore the critical factors that determine perceptions of the service quality of online shopping sites, researchers adopted the eTailQ scale suggested by Wolfinbarger and Gilly (2003 Wolfinbarger, M., and M. C. Gilly. 2003. eTailQ: dimensionalizing, measuring and predicting etail quality. Journal of retailing 79 (3):183–98. doi:10.1016/s0022-4359(03)00034-4.[Crossref], [Web of Science ®] , [Google Scholar]). Web layout, web info, customer service, fulfillment, and privacy emerged as the critical factors affecting website service quality. Findings of the study are expected to provide valuable insights to academicians in better conceptualizing the constructs and also help marketing practitioners in fine-tuning their strategies by addressing the peculiar needs of the Indian online shoppers.     

Do financial distress and liquidity crises affect value and size premiums?

This study investigates the impact of liquidity crises on the relationship between stock (value and size) premiums and default risk in the US market. It first examines whether financial distress can explain value and size premiums, and then, subsequently, aims to determine whether liquidity crises increase the risk of value and size premium investment strategies. The study employs a time-varying approach and a sample of US stock returns for the period between January 1982 and March 2011, a period which includes the current liquidity crisis, so as to examine the relationship between default risk, liquidity crises and value and size premiums. The findings indicate that the default premium has explanatory power for value and size premiums, which affect firms with different characteristics. We also find that liquidity crises may actually increase the risks related to size and value premium strategies.     

How should managers treat ethics in international business?

Business ethics concern the consideration of moral in corporate decision making. International managers may be confronted with a variety of ethical dilemmas, usually due to differences among national markets in what constitutes legal or acceptable practice. Beliefs about what constitutes ethical business behavior commonly stem from one of four moral philosophies: teleology, deontology, the theory of justice, and cultural relativism. A framework incorporating all four is presented here which should provide a useful decision tool for international managers. An application of the framework and the complexities associated with it are presented next. We conclude that an effective integration of the company's perspective on ethics and the business behavior of the employees is critical and that it depends on top management, and the entire organization, demonstrating that they are serious about ethical business behavior on an ongoing basis. © 1998 John Wiley & Sons, Inc.     

Backpackers in the Northern Territory of Australia—motives,behaviours and satisfactions

This paper reports the findings of a study of 475 backpackers in the Northern Territory of Australia. It finds that backpackers tend to visit many of the same locations as other tourists, and like those tourists, are attracted to the natural sights of the Territory. It is also found that the backpackers can be divided into various groups. For example, of this sample about one‐third had left their previous career to travel, and about 12% had just completed studies. On the other hand about one‐quarter were holidaying during periods of normal paid holiday leave. It is argued that the market is not solely comprised of ‘life change’ or rite de passage holidaymakers. Additionally, differences are found between national groupings. Copyright © 2003 John Wiley & Sons, Ltd.     

Implementing the AHP multi-criteria decision approach in buying an apartment in Jordan

Buying an apartment or a house is an important step in everyone’s life worldwide, to reach a settled and stable life. Several criteria are considered when buying an apartment or a house. In Jordan, apartments are customers’ preferred choices because of financial circumstances. It is not easy for a person to decide on the apartment’s specifications such as location, design, building design and finances. This study assists people in selecting an appropriate apartment using the Analytical Hierarchy Process (AHP), which is considered an important multi-criteria decision-making approach. Data used in this study were collected in Jordan; however, people worldwide can benefit from this study. The methodology used is twofold. First, feedback was considered from five investors in the real estate sector in Jordan about specifications that customers consider when buying an apartment. Second, several customers were asked about their preferences in a dream apartment using a pairwise comparison questionnaire, which was collected from 305 participants to obtain the priorities of 10 different apartment alternatives found in the Jordanian real estate market. The AHP technique is used to analyse the collected data to assist customers in reaching the best purchase decision.     

Islamic Work Ethic,innovative work behaviour,and adaptive performance: the mediating mechanism and an interacting effect

This study’s focus is on the relationship between Islamic Work Ethic (IWE) and adaptive performance with the mediating role of innovative work behaviour (IWB) and moderating role of ethical leadership among hospitality sector employees in Pakistan. Data were collected using questionnaires from 257 employees working in various hotels across Pakistan. Results indicate that IWE significantly predicts adaptive performance both directly and indirectly through IWB. In addition, results also confirm the moderating role of ethical leadership between IWE and IWB. Theoretical and practical implications are discussed.     

Young Consumer's Green Purchasing Behavior: Opportunities for Green Marketing

This study aims to identify the key antecedents that influence young Indian consumers' environmental attitudes, which indirectly affect their green purchasing behavior. A model is proposed to test the impact of factors affecting environmental attitude and green purchasing behavior. A convenience sampling method was employed to obtain 730 usable responses from young students. The study explores the hypotheses that altruism, interpersonal influence, and environmental knowledge of young consumers affect their environmental attitude. A path analysis shows that environmental attitudes of young consumers affect their green purchasing behavior, demonstrating the attitude-behavior model. The article concludes by presenting theoretical and practical implications for future research in environmental psychology.     

The effect of carbon dissemination on cost of equity

This study examines whether firms can influence their cost of equity (COE) by broadly disseminating their carbon information over Twitter. We study firms' dissemination decisions of carbon information by developing a comprehensive measure of carbon information that a firm makes on Twitter, referred to as iCarbon. Using a sample of 1,737 firm‐year observations for 584 nonfinancial firms with a Twitter account and listed on the U.S. NASDAQ stock exchange over the period 2009–2015, we find that iCarbon is significantly and negatively associated with COE. Our results are consistent after determining the effect of Bloomberg's environmental and environmental, social, and governance disclosure. The findings also hold when using alternative measures of COE and iCarbon.