Current Perspective to Economics and Management Vol. 4

Start-ups are new businesses, which need a good amount of equity to finance investments. Crowdfunding is an alternative instrument to collect money. It does not need the intervention of a bank, but allows to obtain the funds directly from the public by network platforms.

This article focuses on the possibility for a start-up to raise capital through crowdfunding.

The argument is quite known on an international level, even if scholars often focus on specific problems or on particular moments of the life cycle of the start-up. On the contrary, the two arguments are really new in Italy. The Italian crowdfunding market is young – the main increase in the platforms number (+63%) is between 2013 and 2014 - and the national regulation which allows to finance start-ups by crowdfunding is even more recent (latest legal document in 2017).

The novelty of the topic explains the added value of this article. To the best of our knowledge, no previous study focused on the Italian start-ups financed by crowdfunding. We analyze the phenomenon from the birth of the different platforms (2005 for the first one) since the end of the first semester 2018.

Local authority is the manager of urban environment and ranks last under the Malaysia government structure after Federal and State governments. The main duty of local authority is to stimulate economic growth and social development of a district. However, the operational roles that these local authorities supposed to portray have to some extent do not meet the public expectations, resulting in various complaints being filed as evidenced from Public Complaint Bureau statistics. In response to the public outcry for better service delivery, the objective of this research is to investigate the effect of demographic factors (gender, age, working experience, supervision period and service group) in influencing the exhibition of citizenship behaviour among local authority workforce in east coast region of Malaysia. 167 respondents from four local authority in Terengganu have participated where data were collected using stratified random sampling approach. Empirical results revealed that only supervision period has significant influence in elevating employees’ Organizational Citizenship Behaviour, hence, supporting social exchange theory. Therefore, management should undertake hands-on actions in warranting that these demographic variables be strengthened in invoking employees’ citizenship behaviour towards instilling community confidence towards diverse services provided by local authorities.

This study examined the factors that influencing small and medium-sized enterprise (SMEs)’ performances with the mediating effect of organizational citizenship behavior in China. Its purpose is to motivate and improve the small and medium-sized enterprise’ performance. The examined factors were distributive justice, procedural justice, interactional justice. This study uses cross-sectional survey to verify the theoretical framework. The survey data in this study were collected from 251 employees of SMEs in China. The study result shows that distributive justice, interactional justice had significant influence on the organizational performance; distributive justice, procedural justice, interactional justice had significant influence on the organizational citizenship behavior; Meanwhile, procedural justice can influence organizational performance through the meditating role of organizational citizenship behavior. The results of this study could provide a development strategy for SMEs in China through the relationship organizational justice and organizational performance.

Risk management policies and tools have been becoming one of hottest issues since collapses during global crisis 2007-2009. The Vietnam economy and tourism & airline industry have gained lots of achievements after the financial crisis 2007-2011, until it reached a low inflation rate of 0.6% in 2015. Tourism & airline companies face challenges in expanding Vietnam market such as pricing policy and supporting services, etc. This paper measures the volatility of market risk in Viet Nam tourism & airline industry after this period (2015-2017). The main reason is the vital role of the tourism & airline company group in Vietnam in the economic development and growth in recent years always go with risk potential and risk control policies.

This research paper aims to figure out how much increase or decrease in the market risk of Vietnam tourism & airline firms during the post-low inflation period 2015-2017.

First, by using quantitative combined with comparative data analysis method, we find out the risk level measured by equity beta mean in the tourism & airline industry is acceptable, i.e it is little lower than (<) 1.

Then, one of its major findings is the comparison between risk level of tourism & airline industry during the financial crisis 2007-2009 compared to those in the post-low inflation time 2015-2017. In fact, the research findings show us market risk fluctuation, measured by asset and equity beta var, during the post-low inflation time has decreased slightly.  

Finally, this paper provides some ideas that could provide companies and government more evidence in establishing their policies in governance. This is the complex task but the research results shows us warning that the market risk volatility might be higher during the post-low inflation period 2015-2017. And our conclusion part will recommend some policies and plans to deal with it. Finding new potential markets and credit and financing policies are among directions for tourism & airline companies.

Business globalization, preference for teamwork to individual work and the changing workforce demographics have made workforce diversity management necessary for firms. Mismanaged diversity can be detrimental to the employee satisfaction and productivity. Employees who feel more valued work hard while the group that consider themselves as minority group feel less valued leading to lower performance. This paper identifies innovative strategies for managing workforce diversity in Kenyan leading corporations in present global scenario. The paper looks at how communication strategies, performance management, leadership initiatives and shared responsibilities are used in managing workforce diversity. Activities of different corporations in Kenya are reviewed to identify those that are inclined to the management of workforce diversity.

The impact of institutional corporate governance on the financial performance of Islamic banks, with a specific focus on Shari’ah Supervisory Boards and corporate boards. The findings of this study indicate that Islamic banks with Shari’ah Supervisory Boards outperform Islamic banks without such boards, as measured by return on assets (ROA), return on equity (ROE), asset growth (AG), and interest margins (IM). Further findings of this study indicate that the financial performances of Islamic banks with Shari’ah Supervisory Boards and corporate boards are influenced by several board characteristics, including the size of the board and the education of the board members. Moreover, Shari’ah Supervisory Boards provide tighter monitoring and control, as well as more advising and counseling, as compared with Islamic banks without Shari’ah Supervisory Boards. Later findings indicate that Shari’ah Supervisory Boards’ affiliations with international Islamic financial institutions motivate the positive relationship between the Shari’ah Supervisory Boards and Islamic bank performance. Overall, this study provides strong evidence that Shari’ah Supervisory Boards benefit shareholders by complementing corporate boards and thus mitigating agency problems and agency costs.

Corporate governance is rising as a subject for debates and an MBA course at many business schools all over the world. Whereas it is developed as one of key functions at headquarters at medium and big companies. Esp., it can be combined with ISO and quality management system toward a better leadership and management roles in various industries. After our previous paper of “A set of limited Asian Pacific comparative corporate governance standards”, this one concentrates on several comparative international standards, so-called a limited comparative set of standards on corporate governance.

First, it looks at some groups of findings on corporate governance subjects in the post-crisis period. It found out that companies in these periods need to oversight their legal or compliance activities, besides suitable policies.

Second, it identified different points in latest corporate governance standard principles and systems in groups: CFA Corporate Governance Standards and ADB & Hermes’s Corporate Governance Codes. Third, this paper provide with a summary of evaluation of current corporate governance systems in these above countries which may enable relevant organizations in re-evaluating their current ones.
Last but not least, it aims to illustrate a limited comparative set of standards of International corporate governance, so-called backbone and give proper recommendations to relevant governments and institutions.

Data analysis is the process of evaluating data using analytical and statistical tools to discover useful information and aid in business decision making. There are several data analysis methods. However, one area that has been left out in the analysis of data is the analysis involving intersections and overlapping relationships between two or more sets of items. The intersection of two or more sets of data is a new set that contains all of the elements that are in both sets. This chapter introduces the use of Venn diagrams in the analysis of data sets involving intersections and overlap. This method will be of benefit analysis of data sets that involve mixed financing strategies in finance and economics by showing all possible logical allocation and intersection of strategies in the "Mixed Financing Strategies."

Firms operating in highly competitive industries strive to bolster their performance by building sustainable competitive advantage. Organizational culture and market orientation are considered sources of competitive advantage. Organizational culture creates competitive advantage only when it is strong, encourages creativity and adaptation to changing conditions in the market. Organizational culture creates behaviors such as market orientation that ultimately leads to superior performance of the firm. Competition in the microfinance industry is intense as microfinance institutions compete with each other, commercial banks, savings and cooperative societies and informal money lenders. In such competitive markets, understanding the drivers of firm performance is necessary. Therefore, our study was designed to assess the influence of organizational culture and market orientation on performance of microfinance institutions in Kenya. The population of the study comprised microfinance institutions that were members of the Association of Microfinance Institutions (AMFI) in Kenya. We used descriptive cross-sectional survey design. We collected primary data using structured questionnaire. Our hypotheses were tested through linear regression analysis. Our results demonstrate that organizational culture significantly and positively influence performance of microfinance institutions. The partial mediation effect of market orientation on the relationship between organizational culture and performance was confirmed. The complimentary effect of organizational culture on market orientation implies that organizations need to spend more resources in nurturing market orientation to create sustainable competitive advantage through delivery of superior customer experience. We conclude that the influence of organizational culture and market orientation on performance is more plausible for mature industries regarded as diverse in terms of customer needs.

About couple of decades back, Prince Group was one of the leaders in Plastic Industry by being No. 2 in India. This particular independent organization belonging to Prince Group was in the business of Manufacturing and Marketing of Injection Moulded Crates, Blow Moulded jars, drums, bottles etc. Due to high volume of sale generated, business was excellent. This unit’s main business came from two big multinational organizations who contributed around 75 to 80% of turnover for the previous 5 to 6 years. As the time elapsed, the demand from multinationals dropped drastically to almost tending to zero (due to change of market). As a result, the turnover of these Organizations sharply dropped and slipped into loss.

I was known to this organisation being an Auditor who was in-charge of providing Audit services. At this juncture, I was invited to join this organization as Strategy Manager to create a turnaround. I formulated Strategy to cover both Manufacturing and Marketing functions in order to recover. This case deals with how the strategy was evolved and how it was implemented; hitherto few unknown initiatives were taken, what results were achieved both financially and non-financially etc. Finally, at the end of 3 years this organization bounced back with bang with a trebling turnover and earning decent profit. Thus, sustainable business organisation was created.

This article explains in detail as what Strategy was formulated and what was the result. 

This paper focused on the challenges and prospects of private sector organizations as the main engines of economic growth and development in Nigeria. It discussed the concepts of organization, the prospects and challenges of private sector-led growth in Nigeria. The study examined the current business environment and discussed ways of encouraging the private sector organizations in Nigeria to act as a catalyst of economic growth and development. The paper posits that to achieve a desired sustainable private sector led growth of the economy, it is imperative for government to continuously put in place policies and programs that will encourage private sector participation and contribution to the development process. Finally it concluded that there is growth in the financial performance of private sector organizations and its sustained prospects and success hinged on all those series of initiatives and policies of the government to advances private sector led growth and transform the country into an economy that is robust, stable, dynamic, export-led and competitive.

Management information systems and its significance and impact in today’s corporate world are determined based on several factors pertaining to sustainability and green revolution. A framework for the competency model among the sustainable corporation is outlined. Management information system and its impact on the corporate world are detailed; along with a framework of modern view of corporate sustainability is explained. Finally as theoretical contributions of this work, proposed four schools of thought for today’s business organization to remain sustainable.

Risk management ocvering financial risk management is really necessary in many kinds of firms in recent years. Financial risk in real estate industry has become a hot issue during and after the clobal crisis 2007-2011. In developing countries such as Vietnam, financial risk management via measuring market risk, is among risk tools to present risk policies for companies and government.

Using a two (2) factors model, this chapter analyzes the impacts of both financial leverage and the size of firms’ competitors in the real estate industry on the market risk level of 45 listed companies in this category.

This paper founds out that the risk dispersion level in this sample study could be minimized in case financial leverage decreases down to 20% and the competitor size keeping approximate size as current (measured by equity beta var of 0,195).

Beside, the empirical research findings show us that the risk level could be reduced when financial leverage increases up to 30% and the size of competitor slightly smaller (measured by equity beta value of 0,736).

Last but not least, this paper illustrates calculated results that might give proper recommendations to relevant governments and institutions in re-evaluating their policies during and after the financial crisis 2007-2011.

High operating costs and complexity of risks are impacting negatively on corporations’ profitability despite practicing corporate governance. Corporate governance requires that the management develops frameworks, structures, and guidance to manage enterprise risk. The traditional methods of mitigating risk have relied heavily on insurance as the only mean of protecting enterprise against risks. The traditional methods are now becoming too expensive for corporations and are not able to cover all risk exposures. This problem forms the basis of the research problem in this study. The purpose and objective of this study are to establish alternative methods of mitigating risks in corporations and develop models for computing benefits accruing to the corporations as a result of using the new alternative method. As such, this study identifies financial assets, sinking fund, ploughing back of premiums as possible investments where forgone insurance premiums can be invested and develop a model for computing earnings resulting from such investments. The study applied Actuarial Theory, Financial Theory of Risk Transfer, Modigliani and Miller Theory and Agency Theory, and used both primary and secondary data collected from National Transport and Safety Authority, Kenya and Registrar of Motor vehicles, Kenya target populations, namely number of countries in Europe and North America and the number of insurance companies in Kenya. The study was of significance to the business communities, scholars and researchers, the government and the general public by: (1) providing a better understanding for designing and formulating risk management policy in their organizations, (2) providing mechanism for investing the forgone insurance premium and (3) strengthening knowledge and further research in the area of mitigation. In summary, this study is tenable and a better alternative to ever-increasing insurance premiums.

Social network channels have sparked millions of users in almost to our society. Furthermore, these new tools of connection obtain users' trust by interacting with them at a more profound level, as regional and worldwide marketing organizations have realized social networking as an underlying buying platform and have used this reform to encourage advertisement campaigns and marketing approaches by social networks channels. A company cannot stand in the market with the lack of social media channel now. Notwithstanding the increase of social networks and the widespread diffusion of different information means, limited studies have been done concerning the marketing perspectives of these channels of communication in the Arab region. The motive for this study is to examine the tool of these media and determinants that affect the purchasing behavior of the Saudi consumer. To study a sample of 226 respondents via. Google forms and monkey survey (online) using a close-ended questionnaire with the care of reducing non-response error was addressed in the research. For analysis descriptive (frequency distribution statistics), with the Chi-square goodness of fitness test at P. Value 0.05 (for hypothesis test) was applied and the outcomes were explained respectively in the research. In the result analysis, it is discovered that there is variance among the respondents in time duration spent on social media and purchasing preferences within the social media platform as well as a result shows that there is a remarkable difference in preferences in the use of social networking sites among the respondents.