This study examined the effects of capital structure of banks on the performance of commercial banks in Nigeria, (1970 -2010). The choice of the period, 1970 ? 2010 is meant to capture the important changes that took place in the banking sector immediately after the cessation of civil hostilities brought about by the civil war in Nigeria, 1967 to January 15th, 1970. Note that during this period, Nigeria had revised of the minimum capital requirements, for banks had established Community Banks, the Peoples Banks and introduced the Structural Adjustment Program (SAP). Capital position of Commercial Banks in Nigeria deteriorated in the late 1980?s, many financial institutions suffered from insolvency while many others were technically insolvent. The study captures the performance indicators of banks and employed time series of bank data obtained from the Statistical Bulletin of Central Bank of Nigeria (CBN) and Fact books. The formulated models were estimated using ordinary least square regression methods. The study identified long run positive relationship between capitalization and profitability. This is supported by the results of the research conducted by Ubom (2004), Kwan & Eisenbeis (2005) and Adegbaju & Olokoyo (2008).The result of Granger Causality indicates that the significant relationship between capitalization and profitability is by-directional, implying that increase in capital leads to increase in profitability and vice versa of Commercial banks in Nigeria. The implication of this study, among others, is that improved capital position of Commercial banks in Nigeria will enhance their performance, restore the credibility and confidence of customers in banking operations. We therefore recommend that those strategies that will lead to continuous improvement in the capital position of banks should be embraced. Key Words: Bank Capitalization, Bank Soundness, Performance, Profitability, Non-performing Loans, Insolvency and Financial distress.
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Effects of Performance Appraisal Politics on Job Satisfaction, Turnover Intention and Loyalty to Supervisor Study With Reference to the Telecom Organizations of Pakistan MUHAMMAD ADEEL ARSHAD, MUHAMMAD TAHIR MASOOD and GHAZALA AMIN Pages: 653-673
Previous studies have shown that performance ratings are intentionally modified by the appraisers having different motives especially political and the politics in performance appraisal have different impacts on the job outcomes of the employees. The current study explains the impacts of performance appraisal politics on job satisfaction, turnover intention and loyalty to supervisor (i.e. appraiser) as perceived by the employees of telecommunication organizations of Pakistan. The data was collected from the white-collar employees (N=207) of Telecommunication organizations of Pakistan and the results of regression analysis concluded that the political motives of the appraisers during performance appraisal process causes in reduced job satisfaction and loyalty of supervisor and increased turnover intentions of the employees. Keywords: Perceived performance appraisal politics, organization politics, job satisfaction, employee turnover, loyalty to supervisor.
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Empirical Relation Among Fundamentals, Uncertainty and Investor Sentiments: Evidence of Karachi Stock Exchange. SULEMAN SARWAR, WASIM HUSSAN and SOHAIL NAWAZ MALHI Pages: 674-681
The present study covers all non-financial companies listed in Karachi Stock Exchange over the period 1998-2009 to explore the significant determinants of stock returns. Market premium, size, uncertainty and investors sentiment has confirmed significant positive relation with stock returns. In contrast, book to market was significant negative which confirmed the return of overvalued stocks were higher or vise versa; such over/under valuation was associated with the trading volume. Result of discretionary accrual was not in line with previous researchers; managers do not manipulate the earnings to catering the stock prices. Significant positive trading volume and negative book to market verified that highly traded stock become overvalued and yield high return. In conclusion, present study confirmed the noise trading theory in Pakistani markets. Key Words: Stock Returns, CAPM, Investor Sentiment, Trading Volume, Uncertainty.
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The Effect of Cashless Policy of Government on Corruption in Nigeria TAJUDEEN. J. AYOOLA Pages: 682-690
Corruption has been identified as a complex, endemic, and multi-layered problem that threaten the very existence of Nigeria and various efforts have been made by Nigerian government to curb the menace. A cashless policy was recently initiated to curb corruption among other objectives. This study therefore assessed the perceptions of stakeholders on the types of corruption that can be reduced by the cashless policy; examined the effectiveness of the policy in curbing corruption; and identified critical success factors for effective implementation of the policy. This was with a view to providing information on the effect of the cashless policy on corruption in Nigeria. Primary and secondary data were sourced for this study. Primary data were sourced through the administration of unstructured questionnaire to 100 purposively selected respondents with 25 respondents each from the banking sector, government officials, government contractors, and academics. Secondary data were sourced through library research. The data collected were analysed using descriptive statistics. The results found out that no single strategy can address all types of corruption and that the cashless policy can only reduce petty corruption which is the lowest level of corruption as against all forms of corruption. The study concluded that the inevitability of addressing the root cause of corruption and devising compatible, systemic, and multi-pronged solutions is the most appropriate approach to addressing the menace. This will require enacting or modifying legislation, having effective punishment for corrupt individuals, and systemic changes occasioned by re-engineering processes that interface with the common man through the use of innovative technology solutions such as electronic governance, which will play the role of empowering the citizens by making governance more transparent and citizen-friendly. Keywords: Corruption, Cashless, Public Sector.
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Extended Marketing Mix and Customer?s Satisfaction in Classified Non-Star Hotels in Meru Municipality Kenya GITAU PAUL MUCAI, ERICK KITHINJI MBAEH and ADEN ISSACK NOOR Pages: 691-696
Star Rated hotels have an above average responsibility to offer the highest international standards, but the non-star classified hotels manage their own service strategies in a very competitive market under the watch of the various licensing and regulating government agencies. These classes of hotels are subjected to public evaluation in which customer referrals are their main source of future business. This study analyzed the influences of extended marketing mix on customer satisfaction in the hospitality industry in Meru Municipality. The study was guided by three objectives: - to assess the influence of People on customer satisfaction, to determine the influence of Process on customers and to establish the influence of Physical Evidence on customer satisfaction in classified non-star Hotels in Meru Municipality. The study used a descriptive research design while the sample size was 550 internal and external customers from the 47 licensed classified non-star Hotels in Meru Municipality as of February 2011. Data was analyzed using descriptive and inferential statistics. The study concludes that Process marketing mix has a significant influence and recommends further study to investigate why physical evidence and people mix has no significant influence on customer satisfaction in the non-star classified hotels in the hospitality industry. Key Words: People Marketing Mix, Process Marketing Mix, Physical evidence Marketing Mix.
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Government, Business and Market of Organic Products in Davao City Philippines ADRIAN M. TAMAYO, REYNALDO C. CASTRO and MELANIE LIM Pages: 697-703
The Agri-Development Board of Davao City (ADB-DC) is an organization that is primarily concerned with the competitiveness of agriculture sector towards the end of achieving food security. The ADB-DC supported Organic Agriculture (OA). When the City Council proposed the institutionalization of organic agriculture in the City, the ADB delineated its concerns on the ordinance institutionalizing organic agriculture in Davao City. The ADB as an agriculture-advocacy board highlighted the concerns such as the attention to be provided to both small and medium agric-goods producers, the market support for the products, the non-organic farmers, the budget allocation for organic agriculture support. The agri-board emphasized the need for consultations with greater reach involving producers, retailers and merchandisers and the consumers of the goods stressing the important role of agri-business. The highlight of the study revealed that organic farming advocacy in Davao City cannot all be pointed on the production efficiency, farming technology but on the sustainability of income of the farmers who are to engage into such form of farming. Key Words: Scale Farming, Organic Market, Agri-Business.
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The Impact of Sports Sponsorship on the Brand Value of the Tunisian Company RIM ZOUAOUI, FATEN HAKIM GHORBEL and MOHAMED ALI OMRI Pages: 704-712
The major objective of this study is to test if the sport sponsorship can influence investors? behavior. The paper analyzes the effect of the final of African Nations Championship Handball games announcements on the stock price of Tunisian sponsoring firm by investigating whether sponsorship announcements have an effect on abnormal returns on share prices. Using event study methodology, the results provide evidence that the market react with the result of the games. Result reveal that abnormal returns positively impact stock returns. The impact of Handball club performance was found to be significant. Key Words: Abnormal returns, event study, final of African Nations Championship Handball games, sponsorship and Tunisian Stock Market.
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The Effect of Market Uncertainty and Strategic Feedback Systems on Emergent Marketing Strategies & Performance in Pakistan AWAIS TARIQ Pages: 713-727
The core objective of the study is to check the effect of market uncertainty (market dynamism and market complexity) and strategic feedback systems on emergent marketing strategies (7ps) & performance in Pakistan. The variables used in the study are Market Dynamism, Market Complexity, Strategic Feedback System, Emergent Scope of Marketing Strategic (7ps) and Marketing Performance. The study was conducted by the help of questionnaire made from interviews of strategic marketing managers of national and international firms in Pakistan. The Likert 7-scale questionnaire is used. 69 questionnaires were successfully returned. Results of the study are: Market Dynamism affects emergent scope of price and people. Market Complexity affects emergent scope of product, distribution, promotion and people. Strategic Feedback System affects product, price, place, promotion, process and physical evidence. Emergent scope of product, price, place, promotion, people, process and physical evidence affect Market Performance. Strategic Marketing Managers should focus on the above significant marketing mix while formulating Marketing Dynamics, Marketing Complexities and Strategic Feedback System. Marketing mix should be designed with particular focus on performance of market. Key Words: Market, Uncertainty, Marketing Strategies and Pakistan.
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Constructing Multivariate Simulation Metamodels for Supporting Supply Chain Management JANICE K. WINCH, CHU-HUA KUEI and CHRISTIAN N. MADU Pages: 728-745
This paper describes a multivariate simulation metamodeling approach for supporting supply chain management. We use discrete event simulation to examine the links between controllable factors and the supply chain performance. Based on the results of the simulation, regression metamodels are developed. The resource allocation decision on the controllable factors is made by a linear programming model. The paper also presents three modeling frameworks in which the metamodeling approach can be used. They are the hierarchical model, the SCOR model and the integrated supply chain model. The simulation metamodeling approach and the strategic modeling frameworks demonstrated in this paper will assist supply chain managers in resource allocation decisions as they initiate and plan supply chain improvement projects. Key Words: Multivariate Simulation Metamodel, Supply Chain Management, Supply Chain Design, Supply Chain Simulation Model, Taguchi Method.
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Jordan Ahli Bank's Commitment to Applying the Concept of Strategic Management" Field Study AMAL YASIN AL-MAJALI and HEBA JUBRAN SALEH SUNNA'A Pages: 746-775
This study aimed to identify the extent to which Jordan Ahli Bank applied the concept of strategic management. In order to achieve the objectives of the study, the researchers maintained, developed and designed a questionnaire distributed to deliberate sample consist of (44) persons, then collected data analyzed using Statistical Package of Social Science SPSS 12. Many important results was reached by this study, the most notably are the following: 1. The majority of NCB staff has sufficient knowledge about the concept of strategic management. 2. The National Bank in Jordan took serious practices for strategic governance. The study recommends to continually follow the approach taken in Jordan Ahli Bank in the use and application of strategic management in the scientific sense. Key Words: Strategic management, Banking sector in Jordan and Jordan Ahli Bank.
