Year 2013 , Volume  2, Issue 1, Part 2
1The Effects of Dividend Policy on Market Value on Companies Listed In Tehran Stock Exchange
SAMIRA HONARBAKHSH, HAMID BIRJANDI and MASOUD BIRJANDI
Pages: 65-75
Details (677)
This study investigates the effects of dividend policy on market value. Empirically the research data is collected from 45 firms in the Tehran Security Exchange (TSE) during 2006-2011. Multiple regressions technique is used for examining the stated hypotheses. It is used for, three Ohlson equity valuation models. The first model is based on permanent earning and the second model is based on expected future earnings and, finally, the third model is based on current earnings. The relationship between earnings and dividends has content information for evaluation of the companies. In order to examine the hypotheses, data is collected from the annual reports of the companies using official bulletins of the Tehran stock exchange, mainly, through Novin software, Tadbir Pardaz software, and stock sites such as www.rdis.ir. The results indicate that based on the models, debt, permanent income and, the net operating cash flows, debt and investment, , investments and debt are associated with stock prices, significantly and positively and all samples are selected, . It also confirms that the results of the comparison of three models, anatomical features and the ability of the models to predict the market value are more important than the other two models .This research provided a good chance to examine the effects of dividend policy on company's market value. Meanwhile, it took into consideration whether other control mechanisms such as firm?s size have any effects on this relationship. Keywords: dividend policy, the company's market value, equity valuation models Ohlson.
2Job Commitment and Quality of Personal Life: A Study of Doctors in Public and Private Sector
MOHAMMAD TUFAIL
Pages: 76-86
Details (604)
The aim of this paper was to investigate the job commitment of the doctors is affects the quality of their personal and professional lives or not. Stress was taken as moderator. For this purpose the data was collected via well developed questionnaire from the reputable hospital of Khyber Pakhtonkhwa in both Public and Private sectors. It was found that Doctors working in Public sectors hospitals were not satisfied with their work. Further research avenues have been suggested to be investigated. Key words: Job Commitment, Doctors, Stress, Quality of life.
3Do Women Entrepreneurs Play a Role in Reducing Poverty? A Case in Kenya
SEDINA B. MISANGO and ORPHA K. ONGITI
Pages: 87-103
Details (704)
This paper has examined the economic role of women entrepreneurs in poverty reduction in Kenya. A case study was carried out among women entrepreneurs at the Maasai market within Nairobi City?s Central Business District. From the target population of 664, 15% were sampled for this study, through stratified and purposive sampling techniques. Quantitative and qualitative data were collected by use of questionnaires and interviews, hence analyzed concurrently. The study showed that the economic activities carried out by the respondents were similar in nature and included selling of African artifacts, clothing and ornaments. Most respondents (95%) used readily available raw materials to make their products for sale. Majority of the respondents (83%) agreed that the businesses had made them improve their economic status. The businesses contributed to the promotion of tourism, employment and export trade. The study concludes that women entrepreneurs play a major role in poverty reduction in Kenya. Key Words: Women, Entrepreneurs, Poverty Reduction.
4Perceived Barriers in the Adoption & Usage of Credit Cards in Pakistan Banking Industry
JUNAID KHALID, HASNAIN SAFDAR BUTT, MUHAMMAD MURTAZA and USMAN KHIZAR
Pages: 104-116
Details (759)

The purpose of this research is to present an exploratory insight into the current users and non-users of credit cards. The aim is to identify the different factors that cause low adoption and usage rate among the Pakistani population. It then aims to discuss barriers that are acting in the stumpy growth of a potential credit card market. A survey was conducted; statistical test is used to identify the intensity of each of the factor, identified through previous literature. A sample consisting of both credit cardholders and non- credit card holders is utilized to gauge the differences amongst the perception about credit cards in both the segments. Than statistical analysis tool t-test is employed to determine the associations between the results of cardholders and non-cardholders. The adoption & usage of credit cards is found to be significantly influenced by demographic factors as well as perceptions that include ?credit card leads to overspending?, ?unreasonable interest rates?, ?and lack of information?,? low acceptability?. Certain variables create bigger barricade for the users like additional charges, high interest rates and insufficient credit limits etc. This research provides an in-depth understanding of factors or variables influencing the plastic money market negatively in Pakistan. Thus it is useful in designing marketing strategies for card-issuers for better growth of this payment mechanism. The sample was drawn from the narrower base than the actual target population of the Pakistan market. Hitherto there has been a very limited amount of research into payment cards in Pakistan and yet with the market for financial services opening up in Pakistan, this research is timely for both domestic banks wishing to issue credit cards and for foreign entrants, seeking to enter the Pakistani market through their expertise in credit cards. Despite the importance of consumer credit, virtually no literature or research exists on identifying the barriers in the adoption & use of credit cards in Pakistan. So this paper intends to close this gap. Further, by combining the demographics, costs incurred with the respondents? perceptions concerning credit card ownership and use, our study offers a richer analysis to explain consumer behavior than previous literatures. Key words: Credit card, Usage, Barriers and Pakistan.

5Corporate Governance and Delisting Risk of French IPO Firms
DJERBI CHIRAZ and JARBOUI ANIS
Pages: 117-127
Details (849)
This paper examines the association between corporate governance mechanisms of IPO firms and the likelihood of becoming involuntarily delisted from the French market. Based on a sample of 139 French IPOs over the period 1999-2007, including 38 failures, it is concluded that a significant negative association between the likelihood of exchange delisting and the proportion of independent directors, the size of the board, and the quality of audit. Research also finds that the CEO/Chair role duality increases the likelihood of exchange delisting. However, research finds no evidence to suggest that the IPO failure risk declines with the presence of an independent audit committee at the IPO time. Keywords: Initial public offerings, Corporate governance and involuntary delisting risk.
6The Impact of Market Orientation and Brand Orientation on Strengthening Brand Performance: An insight from the Beverage industry of Pakistan.
NAVEED AHMAD and NADEEM IQBAL
Pages: 128-132
Details (765)
This research study aims to estimate the impact of market orientation and brand orientation on strengthening brand performance. The study tests whether elements of market orientation like customer orientation, competitor orientation and internal marketing function affects brand orientation and in turn whether brand orientation affects brand performance in beverage industry of Pakistan. A standardized questionnaire was distributed among different people pertinent to beverage industry (distributors, whole sellers, retailers, sales force and employees etc). A total of 2000 questionnaires were sent through emails and 483 effective responses were collected. The response rate is 24%. A model with hypotheses of the relationships between the constructs was built. The results of the structural equation model suggest that customer orientation and interfunctional coordination, has positive effect on brand orientation, while competitor orientation has a non-significant effect. Moreover, the study concludes that brand orientation has a substantial impact on strengthening brand performance. Keywords: interfunctional coordination, Market orientation, brand orientation and brand performance.
7Just-in-Time manufacturing system, Revolution in Management Accounting From concept to implement
AKBAR JAVADIAN KOOTANAEE, SHAHAB GHORBANI KOOTANAEE, ZAHRA AHANGAR SOLEHBONI and ABDOLREZA JAVADIAN KOOTANAEE
Pages: 133-148
Details (752)
JIT production system identifies the hidden problems in the value chain and reduces the production waste of the system while increasing the throughout (Sales-Raw Material Cost). Even though the JIT system seems to be interesting and less complicated it requires lot of coordination with supply chain to avoid delays in the production schedule. This article discusses in depth the implementation of JIT manufacturing. The objectives are twofold. The first objective is to acquaint the reader with the overall JIT concept and the factors necessary for its implementation; the concepts presented here represent the ideal principles and methods of implementation. Keywords: Just-in-Time, Cost management, JIT implementation and Traditional manufacturing.
8Gender Based Study of Professional Technical Education in Women University in Pakistan
BADAR SULTAN MINHAS and MUDASSIR ISRAR
Pages: 149-154
Details (646)
Study delves into the complex behavior of women yet not significant participation in Techno-Economy posing questions to either the investment on women tech-education is worth it or, there is some need to moderate more the family, marriage, job type, male attitude, guidance/counseling, teachers, age, pay/salary, non availability of flexible work hours, your choices, job complexity, health hazards for women significant participation in engineering, mathematics, science, technology, in short techno-economy of a country. Keywords: Techno-Economy, Women Engineers, Factors influencing Women Engineers.
9The Effect of Export Stimuli on Export Performance: The Case of the Tunisian Industrial Firms
WAFA BATTIKH BOUBAKRI, AFEF BEN YOUSSEF ZGHIDI and IMED ZAIEM
Pages: 155-167
Details (703)
The main objective of this article is to determine the effects of the perception of export stimuli on export performance. The empirical part was applied to a sample of 120 companies belonging to the three Tunisian pillar industries: Mechanic and Electronic Industry, Clothing and Textile Industry and Food Industry. Research results show that the perception of export stimuli varies with the firm size but does not varies according to the sector in which it operates. However, only the proactive stimuli reflecting the deliberate behavior of firm to export have impacts on export performance. These stimuli are: existence of special managerial interest, identification of better opportunities abroad, possession of exclusive information on foreign markets and favorable exchange rate. Keywords: Export stimuli, Business segment, Firm size and Exports Performance.
10Impact of Organizational Culture on Employee Performance
ALHARBI MOHAMMAD AWADH and ALYAHYA, MOHAMMED SAAD
Pages: 168-175
Details (866)
Aim of the study: The relationship between organizational culture and performance has been study and a clear link between them has been identified by certain researcher?s research. The main aim of research article is to identify and measure strong relationship between performance and organizational culture. Methodology: Literature review is adopted as methodology to assess the culture of an organization impacts upon process, employees and systems. Findings: Certain dimensions of culture have been identified so far and research shows that value and norms of an organization were based upon employee relationship. The goal of an organization is to increase level of performance by designing strategies. The performance management system has been measured by balance scorecard and by understanding nature and ability of system culture of an organization have been identified. Recommendation: The strong culture of an organization based upon managers and leaders help in improving level of performance. Managers relate organization performance and culture to each other as they help in providing competitive advantage to firms. Keywords0:0Impact, Organization0Culture, Organization0Performance, Employee?s Commitment, organizational goals.