Year 2014 , Volume  3, Issue 1, Part 2 1 Investigation of Staff Perceptions Regarding the Impact of Remuneration Equity on Job Satisfaction in a Zimbabwean Local Authority: The case of Chaminuka R.D.C. EDWARD NEGWAYA, TENDAI CHAZUZA, NYASHA MAPIRA and ANNASTANCIA CHIUNDIZA Pages: 150-161 Details (1374) The research sought to investigate staff perceptions regarding the impact of remuneration equity on job satisfaction and to recommend appropriate strategies for improving the remuneration system as an instrument for enhancing job satisfaction at Madziwa Rural District Council, a local authority in Mashonaland Central province of Zimbabwe. This was accomplished through the use of a case study research design targeting a total population of seventy five (75) permanent members of staff of council. A sample of forty five (45) non managerial and four (5) managerial members of staff was selected for the study. The sample was stratified into categories of executive, supervisory and lower level employees. Semi structured interviews, questionnaires and organizational records such as Collective Bargaining Agreements were used for purposes of data collection. Both qualitative and quantitative data were analyzed through the use of narrative accounts, graphs and pie charts. Major findings highlighted the fact that staffs were experiencing high levels of remuneration inequity, which had impacted negatively on job satisfaction levels. Council has a formalised job evaluation system in place. However, Council was failing to pay staff salaries on time, although the salary levels are fairly competitive for managerial levels of staff though the case was different for lower levels of staff. Moreover, Council is failing to pay staff incentives due to shortage of funds to finance its income generating projects. Although the organisation?s remuneration caters for both internal and external equity, the majority of staff members feel a general sense of dissatisfaction with their jobs due to late payment of salaries coupled with salary backlogs. The recommendations from the findings were that CRDC should find strategies for enhancing revenue collection as well as explore options for investments. Key Words: Remuneration equity, Internal Equity, External Equity, Job evaluation, Collective Bargaining, Remuneration Relativity, Individual Relativity. 2 Influence of Children on Family Purchase Decision: Empirical Evidence from Pakistan AMIR ISHAQUE and MUHAMMAD TUFAIL Pages: 162-173 Details (1983) Children have always been playing their influential role in family purchase decisions but we find lack of research on this topic within Pakistan. Keeping this in mind we conducted this research with a sample of 125 Pakistani Parents. The data collection process was completed with the help of structured questionnaires, designed to especially meet the researchers? criteria. The results were quite a set back for the local stereotypes (marketers). The results reflected a great degree of influence from the children i.e. around 40% towards the family purchasing decisions. Key Words: Children, Family, Purchase decision, Pakistan. 3 The Implementation of Management Accounting Innovations ?The Case of Balanced Scorecard Implementation within Jordanian Manufacturing Companies? ABEDALQADER RABABA?H Pages: 174-181 Details (1134) The current research tries to determine the implementation of Balanced Scorecard rate in the context of Jordanian Manufacturing Companies. In order to satisfy the research objectives, both, a questionnaire survey was used to determine the implementation rate, and semi-structured interviews were utilized to find out the factors impacting the implementation of BSC. Data analysis included within company and crosscompany analysis. The findings revealed that BSCs implementation in the context of Jordanian Manufacturing Companies is approximately 38%. Findings from the semi-structured interviews reveal that factors including fashion, forced decision, fad and efficiency are directly related to BSC implementation decision in the target companies. In addition, factors that both facilitate and motivate BSC implementation are: top management support, higher information technology, globalization of consumer, increased competition. The findings from the interviews also revealed that the barriers to BSC implementation are high cost of installing and maintaining the system followed by the lack of information to implement BSC, Resistance from employees, a lack of software packages supporting the BSC, and there were misunderstandings about the relationship between the espoused organizational strategy and the BSC scorecard. Key Words: Balanced Scorecard, Innovation, Implementers, Manufacturing Companies, Jordan. 4 Determinants of Home Bias Puzzle in European Countries SAOUSSEN OTHMANI, IMEN BEN SAANOUN, WAFA GARALI and MOUNIRA BEN ARAB Pages: 182-198 Details (1389) In this paper researchers examine the home bias in international asset allocation. There are several explanations for this observed home bias. Recent studies offer some insight into understanding this puzzle. In this paper researchers assess whether the degree of home bias has changed over the twelve year period, especially after the financial crisis of 2008. Institutional and behavior-based explanations for the phenomena are considered and discussed. We examine if any of the theoretical explanations or recent developments such as the number of industries, trade, the advent of the internet, and geographic distance have affected the increase in foreign diversification. The empirical analysis produces some interesting results. It demonstrates that the rise of the number of industries and geographic distance affected significantly the changes in foreign diversification. The results also indicate that there is a shift of perspective from a national basis to a regional bias (Euro area basis), inevitably induced by EMU. Other factors such as number of internet users, which intuitively might be expected to affect foreign diversification, are insignificant. Research concludes that none of the proposed theories can explain the full extent of the home bias, thus we argue that international portfolio allocation should be justified by a combination of rational and irrational explanations. Key Words: International Diversification, Home Bias, Emu, Industrial Diversification, Financial Crisis. 5 An Investigation of Factors Influencing Levels of Employee Empowerment in a Government Training Institution The Case of Management Training Bureau: Zimbabwe EDWARD NEGWAYA, TENDAI CHAZUZA, NYASHA MAPIRA and HILLARY MUSEMWA Pages: 199-210 Details (1516) The research sought to investigate factors that influence levels of employee empowerment Management Training Bureau (MTB), a government owned training institution in Harare, Zimbabwe. The study employed the use of a case study research design. Initially, the target population was divided into two main strata, managerial and non- managerial employees. From a population of 187 non- managerial members of staff, a sample of 56 was drawn from which data was collected using self- administered questionnaires. From the initially scheduled 12 interviews with members of the management team, 9 were successfully conducted. Data was analyzed through the use of both qualitative and quantitative approaches. The research established a fairly high level of feelings of alienation and disempowerment among members of staff across the various levels of the organizational structure. The main factors that were found to influence levels of employee engagement at Management Training Bureau, included organizational culture, the availability of resources as well as the leadership styles of managers, communication styles, quality of training and development, lack of succession planning and mentorship programmes, as well as high labor turnover of qualified and competent staff. The research recommends that the organization among others, revisits its organizational culture, with a view to encompassing tenets of employee empowerment such as more effective communication, participatory decision making, and coaching and delegation of duties and responsibilities to staff. Key Words: Positive Psychology; Positive Organizational Behavior; Employee empowerment Performance management; Job performance. 6 Reaction Function Model of Monetary Policy under Inflation Targeting Framework in Indonesia MOH ADENAN Pages: 211-221 Details (1280) The study aimed were 1. to test and analyze real GDP lag, real GDP lead, real interest rate and real exchange rate simultaneously and partially affected on output gap; 2. to test and analyze real GDP and SBI interest rate simultaneously and partially affected on real money balance; 3. to test and analyze inflation lead, inflation lag, real GDP lag, real exchange rate lag, real exchange rate lag 2 simultaneously and partially affected on inflation; 4. to test and analyze output gap and inflation gap simultaneously and partially affected on SBI interest rate; 5. to test and analyze output gap, inflation gap and real exchange rate gap simultaneously and partially affected on SBI interest rate; and then 6. to describe reaction function model of opened economy was better than model of closed economy. The study concluded that 1. real GDP lag, real GDP lead, real interest rate and real exchange rate simultaneously significant affected on output gap. Real GDP lag, real interest rate and real exchange rate partially significant affected on output gap, but real GDP lead did not; 2. real GDP and SBI interest rate simultaneously and partially significant affected on real money balance; 3. inflation lead, inflation lag, real GDP lag, real exchange rate lag and real exchange rate lag 2 simultaneously significant affected on inflation. Inflation lead, inflation lag and real GDP lag partially significant affected on inflation, but real exchange rate lag and real exchange rate lag 2 did not; 4. output gap and inflation gap simultaneously significant affected on SBI interest rate. Inflation gap partially significant affected on SBI interest rate, but output gap did not; 5. output gap, inflation gap and real exchange rate gap simultaneously significant affected on SBI interest rate. Inflation gap partially significant affected on SBI interest rate, but output gap and exchange rate gap did not; then 6. reaction function model of opened economy was better than closed economy one, proven that value of social welfare loss function of opened economy model less than value of closed one. Contributions of the study were 1. to enlarge alternative reaction function model of monetary policy; and 2. to prove that both reaction function models needed discretion more than rule considering of low determinant coefficient. Based on the study, it was recommended that: 1. BI should adopt reaction function model of opened economy in formulating the following monetary policy; 2. BI should focused on achieving inflation target through utilizing five pillars policy mix related the study, as follows consistent monetary policy to achieve inflation target, exchange rate policy to control stability of rupiah and communication strategy to support effectiveness of policy; and 3. BI should revitalize monetary instrument of discount window to regulate banking and control low inflation rate. Key Words: Monetary Policy, Reaction Function Model and Inflation Targeting. 7 Impact of Financial Developments on an Economic Performance: A Study of Pakistan TARIQ JAVED, SANIA NAWAZ and MAQBOOL AHMED GONDAL Pages: 222-231 Details (1369) This paper investigates the role of financial development toward economic performance in Pakistan. To examine the role of financial development on economic performance in Pakistan we have taken 42 years? time period. The regression analysis is used to check the relationship among variables. Findings of the study suggest that GDP growth is having highly significant and positive relationship with domestic credit, imports and exports. However GDP growth is having negative relationship with trade openness and liquid liabilities. Results also suggest that there is a need of relaxation of monetary policy to distribute productive credit in business community. This expansion of funds will improve productivity and positive impact on GDP growth. Key Words: GDP,OLS, Trade Openness, Productive, Domestic Credit, Imports. 8 Determinants and Factor Dependency of FDI A study of Pakistan and China MUHAMMAD SUHAIB MANZOOR, M. MOHAN. FONSEKA, USMAN BASHIR and MUNTAZIR HUSSAIN Pages: 232-247 Details (1317) Purpose of this paper is to investigate the Determinants of foreign direct investment (FDI), factors playing a vital role in FDI flow and variation of determinants in Economical, Environmental, Infrastructural, Human capital, Trade and Terrorism dimensions in a country analysis of China and Pakistan. A data set ranging from 1995-2011 is used, widely collected from different data sources and generalized linear models (GLMs) with Dummy variables for country analysis in a model is used for Econometric model justification. Research finds that FDI dependency on different variables change among both countries and with this best determinants as well as least affecting determinants differ in both countries. In case of China, Economical, Environmental, Trade and Terrorism dimensions are explained affecting the flow of FDI. In Pakistan, Economical, Environmental, Infrastructural, Human capital Trade and Terrorism dimensions are appropriated for describing the FDI attraction. Where, GDP, corruption, number of registered patents, internet, unemployment, import & exports and terrorism are the robust variables in FDI determination. Researchers focus only on two countries and generally the FDI determinants differ from area to area depending upon the policies and geographical location of an area. The paper is original in its contribution in all perspective and FDI determinants are analyzed in a border sense to evaluate the most feasible and acceptable set of determinants. Key Words: Foreign Direct Investment (FDI), Economical, Environmental, Infrastructural, Human capital, Trade, Terrorism, China, Pakistan. 9 Social Responsibility and Value of Firms Listed at Tehran?s Stock Exchange ESMAIEL EMAMI, HEYDAR MOHAMMADZADEH SALTEH and RASOUL BARADARAN HASANZADEH Pages: 248-253 Details (1212) The current research is intended to study the relationship between social responsibility and value of firms listed at Tehran?s stock exchange. 150 firms listed at Tehran?s stock exchange were randomly selected and their book values and market values were recorded since 2006-2011. Their scores for social responsibility were collected by questionnaires and were analyzed by fitting regression models. The findings suggested that acceptance of social responsibilities is significantly positively and linearly correlated with firm?s values. However two at of four responsibilities including legal, economic, moral and humanitarian ones were confirmed. It means the legal and economic responsibilities were confirmed. The results showed that the impact of social responsibilities on firm?s values could be accepted. Social responsibility involves the relationships between firm and society. Specifically, it concerns the effects of firms? activities on the individuals and society. The concept has been widely used in social and political literatures. On the other hand, value of firms has always been studied as one of the criteria for firms? growth and development by many researchers. Key Words: Book value, Economic responsibility, Humanitarian responsibility, Legal responsibility, Market value, Moral responsibility. 10 Investigating the Role of Brand in Forming the Consumer Involvement SEYED FATHOLLAH AMIRI AGHDAIE and ROYA HONARI Pages: 254-266 Details (1340) In order to understand consumers behavior, knowing structure of consumer involvement is highly important. Consumer involvement is defined as perceived personal importance, or an interest regarding acquisition, consumption or disposition of goods, services or ideas. Consumers involvement occurs when the customer has knowledge about the product which one of the effective elements is using the brand. Thus it is intended to investigate brand role in forming consumer involvement. In this research effects of brand reputation, brand loyalty, willing to pay higher, awareness of brand, brand popularity, brand name and brand quality on consumers involvement are hypothesized. Required data were collected using 5-point Likert scale questionnaire. 124 questionnaires were randomly distributed in Refah chain stores in Isfahan city. The validity of the questionnaire was estimated by Cronbachs alpha coefficient method and the results were analyzed utilizing SPSS and AMOS software. The results show that awareness of brand, willing to pay higher and brand popularity affect on consumer involvement. Key Words: Brand, Consumers Involvement, Consumers Behavior. 11 The Impact of Sensory Appeal, Self-Reference and Positive Affect on Brand Attitude SYED MUSHARAF ABBAS Pages: 267-278 Details (1504) Advertisement has high sensory appeal hence it attracts more customers toward the brand because people can easily refer themselves toward the brand due to which the positive affect creates in their minds influence the brand attitude. Purpose of the study is to identify various reasons that contribute toward brand attitude in Pakistan some of them are sensory appeal, self-reference and positive affect (which are core part of the advertisement) and the preventive strategies that can be taken to overcome this issue. The scope of study is twin cities (Islamabad and Rawalpindi) and the data is collected from different segments of society which includes professionals and students. So keeping in view the importance of the core part of the advertisement the study is conducted to analyze the effect of sensory appeal, self-reference and positive affect on brand attitude. For this purpose questionnaire method is used for data collection. It is examined that SA, SR and PA are important factor which have positive relationship with the attitude of the brand. Key Words: Sensory Appeal, Self Reference, Positive affect and brand Attitude.