International Journal of Economics, Finance and Management Sciences

Volume 3, Issue 5, October 2015

  • Risk Management Strategy ProposalBHP Billiton and Euro

    Wei Xin

    Issue: Volume 3, Issue 5, October 2015
    Pages: 411-416
    Received: Aug. 06, 2015
    Accepted: Aug. 12, 2015
    Published: Aug. 21, 2015
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    Abstract: BHP Billiton is an Anglo-Australian multinational mining, metals and petroleum company headquartered in Melbourne, Australia. It is the world's largest mining company measured by 2013 revenues. The company has a large amount of business in Europe every year.In this article we focus on the risk and the risk management strategy for BHP on the Euro an... Show More
  • Multiplicity of African Regional Economic Communities and Overlapping Memberships: A Challenge for African Integration

    Muhabie Mekonnen Mengistu

    Issue: Volume 3, Issue 5, October 2015
    Pages: 417-425
    Received: Jul. 29, 2015
    Accepted: Aug. 10, 2015
    Published: Aug. 21, 2015
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    Abstract: The quest for regional integration in Africa has long been entrenched in the history of the continent. Anchored with its diversities, regional integration in Africa has been emerging from the politics of anti-colonialism, but on the basis of pre-existing colonial arrangements. It continues to this date with different shapes and forms. But in genera... Show More
  • The Relationship Between Inflation and Economic Growth of Bangladesh: An Empirical Analysis from 1961 to 2013

    Md. Shakhaowat Hossin

    Issue: Volume 3, Issue 5, October 2015
    Pages: 426-434
    Received: Aug. 13, 2015
    Accepted: Aug. 28, 2015
    Published: Sep. 08, 2015
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    Abstract: The link between inflation and economic growth is one of the most important controversies in the economic literature. It is widely believed that moderate and stable inflation rates promote the development process of a country, and hence economic growth. Moderate inflation supplements return to savers, enhances investment, and therefore, accelerates... Show More
  • Hedging Foreign Exchange Risk Exposure by Importer Companies

    Kazi Rashedul Hasan

    Issue: Volume 3, Issue 5, October 2015
    Pages: 435-440
    Received: Aug. 20, 2015
    Accepted: Sep. 01, 2015
    Published: Sep. 11, 2015
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    Abstract: The study was conducted in order to disclose the Foreign Exchange (FX) rate risk faced by every importer company. The paper investigates FX risk hedging strategy using forwards versus floating strategy in terms of minimizing total importing costs. The study exposes real-life costs of hedging strategies using forwards comprising theoretical foundati... Show More
  • The Credit Policies and Credit Finance Creation Practices by Commercial Banks in Ghana: Perspectives of Staff and Clients of the Prudential Bank Limited

    John Kwaning Mbroh, Kwesi Asiedu Koomson

    Issue: Volume 3, Issue 5, October 2015
    Pages: 441-452
    Received: Aug. 21, 2015
    Accepted: Aug. 30, 2015
    Published: Sep. 12, 2015
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    Abstract: Commercial banks play a crucial role in credit financing of individuals, institutions and generally, their clients. They use a system of credit management to govern their operations in this regard. Specifically, they do this through established credit policies or systems and to an extent, the relevant policy determines a given quantum of credit fin... Show More
  • A Comparative Study on Sustainable Procurement Practices in Sisal Processing Firms in Nakuru County

    Muma Benard, Eunice Waruguru, Caroline Mundia, Sophie Kiruri

    Issue: Volume 3, Issue 5, October 2015
    Pages: 453-459
    Received: Aug. 05, 2015
    Accepted: Aug. 11, 2015
    Published: Sep. 17, 2015
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    Abstract: Sustainability in business operations continues to attract much attention in the business environment and so is among researchers. This is due to the benefits organizations enjoy when they achieve internal sustainability. While most organizations adopt sustainable business practices for various reasons; to improve performance and to be responsive t... Show More
  • Modeling the Two-Region, Two-Product Capacitated Production and Transportation Problem

    Jong Hyup Lee

    Issue: Volume 3, Issue 5, October 2015
    Pages: 460-464
    Received: Aug. 31, 2015
    Accepted: Sep. 16, 2015
    Published: Sep. 26, 2015
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    Abstract: In this paper, we examine the problem of establishing minimum cost production and transportation plans that satisfy known demands over a finite planning horizon. Two products, product 1 and 2, 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 ... Show More
  • Inventory Control as an Effective Decision-Making Model and Implementations for Company’s Growth

    Talatu Muhammad Barwa

    Issue: Volume 3, Issue 5, October 2015
    Pages: 465-472
    Received: Aug. 21, 2015
    Accepted: Sep. 13, 2015
    Published: Sep. 26, 2015
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    Abstract: The purpose of this study is to carry out research to analyse factors involved in inventory control decision process and its implementation for company’s growth. The research is to be carried out through secondary data available in the perspective of the topic. The research centered on the concepts of inventory control decision-making process, and ... Show More
  • Fighting Organized Crime in Mexico: 2006-2012

    Gerardo Reyes Guzmán, Ignacio Ibarra López, Ariel Alcantara Eguren

    Issue: Volume 3, Issue 5, October 2015
    Pages: 473-482
    Received: Sep. 01, 2015
    Accepted: Sep. 22, 2015
    Published: Oct. 09, 2015
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    Abstract: According to the former president Felipe Calderon, the National Security Strategy, designed to overcome violence related with organized crime, made progress by the end of his Administration and improved security as a whole. This article sets two hypothesis based on Calderon’s statement: the more money invested in security, the lower the rate of hom... Show More
  • Social Media as a Factor for Promoting Entrepreneurship - the Middle East & Oman Scenario

    Baby Sam Samuel, Joe Sarprasatha

    Issue: Volume 3, Issue 5, October 2015
    Pages: 483-493
    Received: Sep. 10, 2015
    Accepted: Sep. 25, 2015
    Published: Oct. 08, 2015
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    Abstract: This study is focusing on to establish the Social Media as a factor for promoting entrepreneurship in Oman & the Middle East region. This was done by social media in general public as well as by Businesses & entrepreneurs. The results generated based on the social media usage in Oman and Middle East with respect to Facebook, Twitter, LinkedIn, Inst... Show More
  • Financial Management Practices by Small and Micro Enterprise Owners in Ghana - Evidence from the Central Region

    John Kwaning Mbroh, Seth Quartey

    Issue: Volume 3, Issue 5, October 2015
    Pages: 494-506
    Received: Sep. 09, 2015
    Accepted: Sep. 24, 2015
    Published: Oct. 08, 2015
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    Abstract: In Ghana, small and micro enterprise owners (SMEOs) face a lot of business management challenges and it is alleged that they suffer, mostly, in terms of their financial management practices. Using a purposive sampling technique in a self-administered data collection, this study attempts to highlight the specific financial management practices by th... Show More
  • Sound Corporate Governance and Its Benefits in Financial Institutions: Does It Really Matter for Organizational Development

    Md. Joynal Abedin, Syed Arif

    Issue: Volume 3, Issue 5, October 2015
    Pages: 507-525
    Received: Sep. 10, 2015
    Accepted: Sep. 23, 2015
    Published: Oct. 12, 2015
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    Abstract: Corporate governance in modern times is a rising hot-cake concept that is being introduced worldwide almost in all corporations. The primary purpose of corporate governance is to ensure transparency and equality between a corporation and its shareholders. The intention of this paper is to assess the overall concept of corporate governance, and its ... Show More
  • Impact of Government Borrowing on Bank Liquidity Crisis: An Econometric Analysis

    Raad Mozib Lalon

    Issue: Volume 3, Issue 5, October 2015
    Pages: 526-534
    Received: Jul. 27, 2015
    Accepted: Aug. 26, 2015
    Published: Oct. 16, 2015
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    Abstract: This paper attempts to reveal the ultimate determinants affecting the recent liquidity position of commercial banks in Bangladesh. The whole scenario is presented through focusing on the various elements affecting the liquidity position in commercial banks over a period of time. This liquidity position of commercial banks is affected by many macro ... Show More
  • Effect of Information System on Upstream Supply Chain Management Among Supermarkets in Nakuru Town, Kenya

    Caroline Mundia, Elton Kipkorir Langat, Steve Lelegwe

    Issue: Volume 3, Issue 5, October 2015
    Pages: 535-540
    Received: Aug. 15, 2015
    Accepted: Sep. 01, 2015
    Published: Oct. 23, 2015
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    Abstract: This study was conducted to find out the effect of Information Systems on Upstream Supply Chain Management. It determined the effect of ERO on Upstream Supply Chain Management and the effect of EDI on Upstream Supply Chain Management among supermarkets within Nakuru town. This study involved all the 9 supermarkets in Nakuru town. The primary data o... Show More
  • Determinants of Tax Efficiency Perceptions by Domestic Taxpayers in Kenya: The Case of Nairobi

    Ndemo Alfonce Mosomi

    Issue: Volume 3, Issue 5, October 2015
    Pages: 541-545
    Received: Sep. 17, 2015
    Accepted: Oct. 19, 2015
    Published: Oct. 30, 2015
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    Abstract: The study sought to investigate the determinants of tax efficiency perceptions by domestic taxpayers in Kenya with emphasis on Nairobi. To increase the amount of revenue, the government has in the recent past introduced excise duty on mobile money transfer, seen VAT bill passed and operationalized with campaigns to encourage Kenyans to pay taxes. T... Show More
  • Factors Affecting Performance of Donor Funded Nutrition Projects: A Case Study of Mercy USA Nutrition Project, Kenya

    Okumu Silas Otieno, Esther Waiganjo

    Issue: Volume 3, Issue 5, October 2015
    Pages: 546-555
    Received: Oct. 01, 2015
    Accepted: Oct. 16, 2015
    Published: Oct. 30, 2015
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    Abstract: Projects remain the instruments of choice for policy makers in international development. Yet, paradoxically, the poor performance of projects and the disappointment of project stakeholders and beneficiaries seem to have become the rule and not the exception in contemporary reality. Kenya is one of the countries that receive a lot of donor support ... Show More
  • Effect of Reverse Logistics on Operational Performance of Sisal Processing Firms in Nakuru County, Kenya

    Moses Kabergey, Salome Richu

    Issue: Volume 3, Issue 5, October 2015
    Pages: 556-565
    Received: Oct. 12, 2015
    Accepted: Oct. 23, 2015
    Published: Oct. 31, 2015
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    Abstract: Sustainability in business is becoming a concept that no serious organization can overlook, especially in supply chain operations. A lot of interest has been built on the concept of sustainability in the recent past because of the mounting pressure from the market, government and international non-governmental bodies especially on sustainable devel... Show More
  • Comparative Study of External Supply Chain Risks on Operational Performance of Motor Vehicle Body Building Firms in Nakuru County, Kenya

    Annmarie Kuria, Dr. Josphat Kwasira, Eunice Waruguru

    Issue: Volume 3, Issue 5, October 2015
    Pages: 566-576
    Received: Oct. 19, 2015
    Accepted: Oct. 26, 2015
    Published: Nov. 03, 2015
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    Abstract: This study compared the effect of external supply chain risks on operational performance of Associated Motors and Truck World Company. The study was guided by three specific objectives; to compare the effect of up-stream market risks on operational performance between Associated Motors and Truck World Company, to compare the effect of external end-... Show More
  • Employment and Income Effects of Tourism Activities in the Tourist City of Livingstone in Zambia

    Syed Ali

    Issue: Volume 3, Issue 5, October 2015
    Pages: 577-582
    Received: Oct. 15, 2015
    Accepted: Oct. 23, 2015
    Published: Nov. 10, 2015
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    Abstract: This study was conducted in the tourist city of Livingstone in Zambia to find out the effects of tourism activities i.e., hotel, tourist guide, transport service/boat captain and business (curios), on employment and income. A total of 90 respondents were selected. Estimation of the factors influencing income and employment involved the use of Ordin... Show More
  • Organized Retailing in Context with Amalgamation of Small Firms in Saudi Arabia

    Mohammad Naquibur Rahman

    Issue: Volume 3, Issue 5, October 2015
    Pages: 583-593
    Received: Nov. 12, 2015
    Accepted:
    Published: Nov. 12, 2015
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    Abstract: The purpose of present study systematically brings into focus the prospects of organized retailing in Saudi Arabia and its growth drivers as Baquala (small store) turning into small stores to supermarket and hypermarkets. The present dissertation is a systematic and comprehensive analysis and objective study of organized retailing in KSA and its ou... Show More
  • Characteristics of the NEVs’ Potential Consumer Based on Logistic Model: Data from the Consumers of Shanghai

    Qinxin Guo

    Issue: Volume 3, Issue 5, October 2015
    Pages: 594-598
    Received: Nov. 12, 2015
    Accepted:
    Published: Nov. 12, 2015
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    Abstract: Due to the increasingly serious issues of air pollution, New Energy Vehicles (NEVs) has drawn more and more attention of government and consumers. The local government establish series of relevant policies to support the NEVs’ industry according to the comprehensive planning of the state. However, the sales of the NEV have not reached the prospecti... Show More
  • Empirical Study on the Impact of Commercial Bank Income Structure on Profitability

    Zengfeng Ji

    Issue: Volume 3, Issue 5, October 2015
    Pages: 599-603
    Received: Nov. 12, 2015
    Accepted:
    Published: Nov. 12, 2015
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    Abstract: With the development of banking business and the deepening of market competition, the rate of interest income in the bank's overall revenue became smaller and smaller. More banks began to divert attention to the pioneering types of services, and increasing non-interest income. According to the general theory of academia, the currently 14 listed Chi... Show More
  • Coal Mine Safety Profession Talent Demand and Talent Cultivation Analysis

    Xu Qin, Yang Shengqiang

    Issue: Volume 3, Issue 5, October 2015
    Pages: 604-610
    Received: Nov. 12, 2015
    Accepted:
    Published: Nov. 12, 2015
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    Abstract: Talent cultivation is not only the first priority of education in the university but also an important prerequisite to provide talents for companies. Coal is the main body of energy consumption in China currently. So the safety production in coal industry is related to peace and prosperity of China. Especially in the difficult times of coal industr... Show More
  • The Effect of Microblog’s Content on Customer Satisfaction

    Hanxiaoni, Xuwenti

    Issue: Volume 3, Issue 5, October 2015
    Pages: 611-615
    Received: Nov. 12, 2015
    Accepted:
    Published: Nov. 12, 2015
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    Abstract: The new media marketing has show out a great potential with the rapid development of new media in recent years. As an important kind of new media, microblog has become a good platform for communication and interaction between enterprises and customers. The Xiaomi mobile phone is as an example to investigate the influence of enterprise microblog mar... Show More
  • An Analysis of the Functional Effectiveness of the Automatic Stabilisers of Fiscal Policy in China

    Huachun Wang, Lu Zhao, Xuan Zhang

    Issue: Volume 3, Issue 5, October 2015
    Pages: 616-622
    Received: Oct. 12, 2015
    Accepted: Oct. 26, 2015
    Published: Nov. 13, 2015
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    Abstract: Granger causality Wald test and impulse response analysis were employed to test the functional effectiveness of automatic stabilisers of fiscal policy in China, which revealed that the automatic stabilisers exhibited asymmetries in fiscal revenues and expenditures. In particular, automatic fiscal stabilisers reduced economic fluctuations in fiscal ... Show More
  • Research on Pricing Decision of Closed-Loop Supply Chain Based on Carbon Tax

    Zhang Kejing, Ji Jing

    Issue: Volume 3, Issue 5, October 2015
    Pages: 623-629
    Received: Nov. 18, 2015
    Accepted:
    Published: Nov. 18, 2015
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    Abstract: The closed-loop supply chain in this study is consist of a manufacturer, a retailer and a third-party collector of waste product. Under the decentralized decesion, the Stakelberg game is used to analyze the pricing strategy based on carbon tax. There sult show that carbon tax mechanism can effectively enhance collection volume and recycling, and al... Show More
  • A Study on the Relationship Between the Income Gap Between Urban and Rural Residents and the Educational Level in China

    Zhang Quan, Zhang Hao

    Issue: Volume 3, Issue 5, October 2015
    Pages: 630-634
    Received: Nov. 18, 2015
    Accepted:
    Published: Nov. 18, 2015
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    Abstract: Education and income have been affected each other, good education can get higher income; the increase of income can pay for higher education. This paper uses statistical data to describe the current situation of the income of urban and rural residents and the educational level in China, to explain that there is a significant gap on the income betw... Show More
  • The Basic Situation and Analysis of Shadow Banking in China and Foreign Countries

    Zhang Hao

    Issue: Volume 3, Issue 5, October 2015
    Pages: 635-640
    Received: Nov. 18, 2015
    Accepted:
    Published: Nov. 18, 2015
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    Abstract: Shadow banking was first put forward by Mc Cully, the executive director of Pacific Investment Management Company, in the Fed's annual meeting in 2007, which he defines shadow banking as a kind of financial entities that divorced from the traditional banking system, almost unregulated or less regulated. Since then, the concept of shadow banking spr... Show More
  • Research on the Impact of RMB Exchange Rate Fluctuation on Chinese Stock Market——From the Perspective of Index

    Xing Chengdong, Zhang Quan

    Issue: Volume 3, Issue 5, October 2015
    Pages: 641-645
    Received: Nov. 18, 2015
    Accepted:
    Published: Nov. 20, 2015
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    Abstract: In order to study the relationship between RMB exchange rate and Chinese stock markets, this article makes the theoretical analysis and empirical analysis, which is based on Johansen cointegration test and Granger causality test. The data include 11 Chinese industry sectors. The results show that the relation between RMB exchange rate and the logar... Show More
  • An Empirical Research on the Relationship Between Financial Service Trade and Financial Industry of Shanghai

    Yan Xu, Lili Yu

    Issue: Volume 3, Issue 5, October 2015
    Pages: 646-649
    Received: Nov. 20, 2015
    Accepted:
    Published: Nov. 20, 2015
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    Abstract: Based on VAR model, the paper studies the relationship between financial service trade and financial industry of Shanghai through Co-integration theory. The results confirm that the equilibrium relationship between financial service trade and financial industry of Shanghai actually exists in the long term, and the relationship between import in fin... Show More
  • An Empirical Analysis on the Leading Role of State-Owned Cultural Enterprises in the Chinese Cultural Industry

    Yu Pingan

    Issue: Volume 3, Issue 5, October 2015
    Pages: 650-653
    Received: Dec. 02, 2015
    Accepted:
    Published: Dec. 03, 2015
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    Abstract: According to China's national conditions and policy orientation, the state-owned cultural enterprises will occupy the leading role in the cultural industry for a long time, its development has become a hot spot of concern. This paper is to calculate the correlation degree between the state-owned and the non-state-owned cultural enterprises through ... Show More
  • Think of Scientific Research Management in Scientific Research Institutes in China

    Li Rui, Lv Liemin, Zhu Yongqin

    Issue: Volume 3, Issue 5, October 2015
    Pages: 654-656
    Received: Dec. 03, 2015
    Accepted:
    Published: Dec. 03, 2015
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    Abstract: The scientific research is a process in which the researcher apply the scientific knowledge on the practice, and is a link between theory and practice as well. Being the main carrier, the research institutes of some scientific research institution has functions of developing science technology and servicing for society. Every institute has own admi... Show More