PPM Papers Coming Soon
This section contains information about articles which are arleady reviewed, accepted and waiting for publication in next issues of the journal.
An investigation into the levels of job satisfaction and organizational commitment amongst South African Police Service employees
Leigh-Anne Paul Dachapalli, D.Admin, Senior Lecturer, Tshwane University of Technology, South Africa
Abstract. The objective of the study was to determine whether a relationship existed between the variables of job satisfaction and organizational commitment within the South African Police Services. Data was collected using questionnaires, administered to a sample of 103 respondents, received 71% response rate from a population of 140 employees and used the simple random sampling technique. Data was analyzed using both descriptive and inferential statistics. No statistically significant correlation was found between the dimensions of job satisfaction and organizational commitment. The ANOVA test showed a significant difference in normative commitment among the age, home language and ethnic groups. The ANOVA test revealed significant differences among the biographical variables and the job satisfaction dimensions. The findings of this study indicated no relationship between job satisfaction and organizational commitment.
Performance effects of intra- and inter-regional expansion: the moderating role of firm-specific advantages
Arkadiusz Ral-Trebacz, TU Dresden, International Institute Zittau, Chair for International Management, Germany
Abstract. Recent empirical work suggests that the business operations of multinational companies are rather regional than global. We analyze the performance impact of intra-regional (as opposed to inter-regional) expansion on performance among companies from six West European countries. Using multilevel modelling we find that an increase in a firm's degree of regionalization leads to superior performance. Our results reveal that an inter-regional strategy does not seem to be a profitable expansion option. Moreover, while examining the moderating impact of firms' FSAs on the link between intra-regional expansion and performance, the empirical findings suggest that marketing-related FSAs tend to be more regional-bound in nature and support the positive performance effect of intra-regional expansion.
Endogenous factors in Latvian regional development
Anna Ābeltiņa, Dr.oec., Assoc. Professor, Department of commerce, Turiba University, Latvia
Abstract. The aim of this paper is to explore what endogenous factors dominate in the regional development of Latvia. To achieve the aim, the following tasks were established: to examine the theoretical background of regional development; to analyse the endogenous factors of regional development in Latvia; to evaluate of the significance of the endogenous development factors of regions by using expert evaluation method. The following research methodology was used: literature review, graphical method, expert evaluation method and logically constructive approach - for data evaluation and result analysis; synthesis method - to combine the elements in a unified system; social research methods - to obtain the primary information and to carry out its verification. For expert evaluation data processing the statistical and data analysis methods were used, including the data parametric grouping and correlation calculations, and the average calculations of the factors corresponding to each group.
Entrepreneurial orientation, control aversion, and performance in SMEs: the contribution of equity investors
Lars Silver, Professor, Department of Business Administration, Umeå School of Business and Economics, Sweden
Abstract. Entrepreneurial orientation is a concept that captures the importance of how and why certain individuals decide to take higher risks than the average small business owner so as to increase their return on assets deployed. Entrepreneurial orientation is linked to the concept of control aversion, which is used to explain why certain individuals refrain from using external financing to expand their firms. Control aversion suggests that most small business owners prefer to maintain total control rather than invite in the potentially disruptive influence of an external owner/investor. This study combines these two concepts in an attempt to introduce financing and investors into the discussion of entrepreneurial orientation and performance. Equity investors are shown to have a major influence on entrepreneurial performance because business owners with an entrepreneurial orientation gain substantially from interaction with investors through the transfer of knowledge. The model was tested with a LInear Structural RELations (LISREL) analysis on a sample of 459 Swedish small and medium-sized enterprises.
What to avoid when you are implementing a BSC? From success to failure
Lucía-Clara Banchieri, Ph.D., Universidad Nacional del Sur (Bahía Blanca - Argentina), Argentina
Abstract. Approximately 20 years after the creation of the Balanced Scorecard (hereinafter BSC), BSC is the sixth most widely used management tool by organizations (Rigby and Biledau, 2011). The aim of this article is to identify the key factors for the implementation of a BSC in organizations. To do so, we analysed two cases BSC implementation: one a success and the other a failure. The findings were classified by the answers to the following questions: What was implemented? Where was it implemented? Who implemented it? How did they implement it? and Why was it implemented? The four key factors for the successful implementation of the BSC identified in this study, which complement the existing literature on this subject, are: previous experience of the people responsible for the project; linking the BSC to available resources; consistency between the organizational structure and the strategy; and finally, carrying out a pilot test.
Barriers to public supply chain management strategy implementation: an exploratory diagnosis
Chengedzai Mafini, Ph.D., Head of Department: Logistics, Faculty of Management Sciences, Vaal University of Technology, South Africa
Abstract. This paper investigated barriers to the implementation of public supply chain management strategy in the South African public sector. The public sector in South Africa faces serious supply chain management challenges that are detrimental to the effectiveness and efficiency of public sector operations. A structured questionnaire was administered to a sample of 309 public supply management professionals based in Gauteng Province, South Africa. Data were analysed using the Statistical Packages for the Social Sciences (SPSS version 23.0). The Exploratory Factor Analyses (EFA) using the Principal Components Analysis (CPA) technique was applied to identify the intended barriers. Seven factors which are the barriers to supply chain management strategy implementation; namely, management practices, human resource capabilities, customer service, external orientation, internal communication, innovation and employee motivation were extracted. Management practices emerged as the most influential barrier after the application of the mean score ranking technique.
The importance of human resources management for small businesses in South Africa
Yu-ting Hung, B.Com. Honours Marketing Management, Lecturer. Department of Marketing and Retail Management, University of South Africa
Abstract. The majority of SMEs fail in the first five years of operation (Cant and Ligthelm, 2003:1). Human resource management (HRM) has been identified as a crucial key success factors for SMEs in today's world. This research study investigates small business owners' perception of the importance of HRM. The objective of this paper is to determine the perceived importance of human resources (HR) among South African SMEs and the management of it. A questionnaire was constructed and judgement sampling was used to gather the responses of 88 small business owners. The research revealed that the majority of SMEs have HR practices of some sort in place, as well as areas to improve on HR practices. The challenge now is to further increase the adoption of HR management and practices among small businesses in South Africa to ensure their success, as they play a vital role in the South African economy.
Factors affecting youth entrepreneurship development in Kibera district, Kenya
Wise Sambo, M.Tech., Economic and Management Sciences, Department of Business Management, University of South Africa, South Africa
Abstract. Entrepreneurship and business creation are a growing alternative for young people in different economies whose age group often faces a labour market with double digit unemployment rates. Due to low economic growth, traditional career paths and opportunities are disappearing rapidly. In response to these challenges the government introduced the National Youth Policy (NYP) amongst others to deal with the challenges facing youth in Kenya. It was through the NYP that the Youth Enterprise Development Fund (YEDF) was transformed to a state corporation in 2007 as a strategic move toward arresting unemployment among youth in Kenya. This study sought to report on the factors affecting youth entrepreneurship development in Kibera, a district of Kenya. Kibera is a low income, informal settlement in southwest Nairobi (Kenya) with an estimated population of one million housed on less than 2% of the total municipal residential land (or 3,000 people per hectare). A sample of three hundred entrepreneurs (aged 18-35) within the Kibera district, Kenya was drawn to participate in this study. Structured survey questionnaires were used to collect data from young business owners in Kibera. Findings revealed that government policy (NYP) and access to credit have a moderate to strong positive relationship in the development of youth entrepreneurship. Though the positive relationship shows that the Kenyan government is supporting youth entrepreneurship in Kibera, there has been differing views as to whether the programmes to support youth are yielding positive results or not.
Black economic empowerment in post-1994 South Africa: ANC curse and/or socialist/communist covenant?
Louis P. Krüger, BSc (QS), MBA, DBA (UP) University of Pretoria, Professor in Operations, Project and Quality Management in the Department of Business Management at the University of South Africa, South Africa
Abstract. After more than 21 years under the leadership of the African National Congress (ANC), post-1994 South Africa finds itself yet again embroiled in race-related politics. Government policies such as black economic empowerment (BEE) and employment equity (EE) have not brought about the economic growth, social development and political democracy that the late former President Nelson Mandela had envisaged and what the ANC had promised to all the people of South Africa. South Africa is currently disengaging itself from the West including the Unites States of America (USA) and certain European Union (EU) countries and appears to rather embrace and align itself with countries such as Russia and China that pursue socialist and communist ideologies. Both these two issues may have a profound impact on how businesses will be managed in the future. In an exploratory, qualitative study using a "5 Star" research methodology, the direct and indirect impacts of BEE policies were investigated and the possible movement in South Africa's ideological stance was explored. BEE does not appear to have helped to bring about high economic growth to help reduce unemployment and eradicate the high levels of poverty and inequality, and government graft and corruption have increased at all levels of government, including local municipalities. BEE appears to have become the ANC's curse to economic, social and political progress and should be scrapped. A national debate should follow on whether the ANC's current covenant with pro-socialism and pro-communism rather than Western free-market capitalism is the appropriate ideology for South Africa to pursue.
Conceptualising innovation management development through organizational learning in the public service: any lessons for developing states?
Lere Amusan, Ph.D., Professor, Department of Politics and International Relations, North West University, Mafikeng, South Africa
Abstract. The present economic realities, the effects of globalisation, the thirst for innovation and the public's demand for improved services have led many developing states to review their approaches to service delivery. Most public service managers and professionals spend most of their time dealing with the day-to-day pressures of delivering services, operating and reporting to senior managers, legislators and agencies. They have little or no time to think about innovation, which would ease the pressures and burdens of service delivery. The intention of this paper is to point out the fact that capacity building is the bedrock of new public management development. This paper proposes that innovation management could be used as a form of organizational learning capability in challenging the maze of diplomacy and negotiation with experienced multinational extractive industries for the benefit of developing states. This could be achieved through excellent public investments and nurturing capability, from which they execute effective innovation processes, leading to new service innovations and processes, and superior service performance results. To achieve this objective, extensive literature on innovation management and organizational learning was consulted and the need for future research. In trying to unpack the discussion in the paper, the New Public Management Theory (NPMT), which is a pro-private sectors human resources management is proposed, though other available theoretical positions are explored taking into consideration the lapses entrenched in NPMT.
Can economic growth be achieved in top management consulting using principles from the business federation? Findings from a Norwegian longitudinal study from 1984 until 1998
Carsten M. Syvertsen, Ph.D., Associate Professor, Østfold University College, Norway
Abstract. The purpose of this article is to illustrate how management consulting firms can achieve economic growth through operating locally within an international network using the business federation as a new organizational form. Within the business federation a local office gains access to resources through an extreme form of delegation where top management does not delegate to local offices but rather give local offices the permission to deal with tasks because it is most efficient. We use top management consulting firms operating in Norway as the empirical setting operationalizing the business federation through a building block system. The research shows support for the claim that firms move closer to the business federation as over time from 1982 until 1998. It is indicated that firms operating close to principles of the business federation achieves a stronger economic growth. The research contradicts claims found in the academic literature that the partnership model supports economic growth.
Tacit knowledge, organizational learning and innovation in organizations
Hanne Stokvik, Research Fellow, Nord University, Business School, Norway
Abstract. Problem: We don't know how tacit knowledge, organizational learning and innovation are linked. Research question: What is the relation between tacit knowledge organizational learning and innovation? Methodology: Conceptual generalizing. Purpose: To create a link between tacit knowledge, organizational learning and innovation
Control in the system of managerial decisions procedures: a conceptual view
Khanif Sharifzyanovich Mullakhmetov, Branch of the Kazan Federal University in Naberezhnye ChelnyRepublic of Tatarstan
Abstract. Characteristics of the environment of functioning and development of the organization, namely the increasing complexity (presence of a number of factors of internal and external environment that influence the activity of the organization), dynamism (factors that significantly affect the organization, change quickly and are interconnected) and uncertainty (as a consequence of the two previous characteristics), as well as qualitative changes in the society, require new approaches, systems, technologies and management practices. Accordingly, the management structure and management processes as a whole, as well as individual management subsystems and their characteristics should change. The author, who has the experience of development and implementation of management control systems in mechanical engineering and construction holdings in the Russian Federation and is a practicing consultant on management and control issues, believes that despite the existence of traditional monitoring systems created by the evolution of the theory and practice of management and controlling system as a result of a systematic approach to the organization of monitoring activities, the role of control in managing processes in social and economic systems is still underestimated. The practice of western systems and technologies of management and control in the Russian organizations for various reasons often do not give the desired effect, sometimes they result in increasing the resistance to the management and monitoring systems and reducing the corporate culture. The aim of this study is to investigate the role of control and develop the common approaches to the control in a key area of management - the organization of the process of preparation, adoption and implementation of managerial decisions, which could serve as the basis for creating and maintaining an efficient system of control in organizations and a reference for solving problems in a variety of managerial situations. The structured analysis of the necessary and sufficient set of stages (phases) and the procedures of development, adoption and implementation of managerial decisions that ensure the managerial cycle has allowed the author to evaluate the role and place of the stages and procedures, specify the role of control in the process of management, and the relationship of the control and other managerial procedures. Understanding the characteristics of the relationships and the role of control can be required by the management in order to create a system of control taking into account the specifics of the organization. Analysis of the "managerial" and "executive" decisions allowed the author to identify the ratio of different types of control at their implementation. Interconnection between development technologies, adoption and implementation of managerial decisions and control procedures provides some practical importance for management. The results of the study can be used by management of various organizations to develop common approaches to solving problems in various managerial situations, using the conclusions drawn by the author. The work is based on the accumulated theoretical and practical material on the subject of research, as well as takes into account the specifics of the Russian reality. The author used the studies on the identification of the place and role of control in the management of social and economic systems previously conducted by him, which are published in Russian and some foreign scientific journals.
Leadership aiming at innovation: suggesting and discussing four roles of an innovation leader
Daniel J. Adriaenssen, Research Fellow, Århus University, Dept. Psychology, Denmark
Abstract. Organizations often experience problems and challenges due to the development of rigid bureaucratic rules and procedures, which may represent obstacles to creativity and innovation. In a global knowledge economy, innovation is an important competitive parameter. Consequently, anything that may stimulate innovation in an organization's creative energy fields is valuable. This paper addresses one question: What management roles of an innovation leader may enhance the development of innovation in an organization's creative energy fields? Methodology used is conceptual generalization.
Corporate social responsibility evaluation by different levels of management of Islamic banks and traditional banks: evidence from banking sector of Bangladesh
Md Abdul Kaium Masud, Assistant Professor, Department of Business Administration, Noakhali Science and Technology University, Bangladesh
Abstract. The research aims to evaluate different levels of management understanding and performance on Corporate Social Responsibility (CSR) of traditional banks and Islamic banks in Bangladesh. Moreover, the paper points out the philosophy of both banks' policy makers. The study is exclusively analytical in nature where 14 banks were selected on the basis of availability of branches in the research area. The research was based on primary data sources through a structured questionnaire. The research findings revealed that there is a gap between policy makers' assurance of CSR contribution and its real implementation. The analysis found that Islamic banks are better than traditional banks with regard to the implementation of CSR policies. The result also showed that there are still some controversies on CSR performance of Islamic and traditional banks in general. The study also observed that Islamic as well as traditional banks' different levels of management conceive that CSR activities are performed by banks for their own interest rather than for social welfare. Therefore, it must be emphasized that good CSR policy is inevitable for all types of banks in Bangladesh. For the betterment of the society as well as the banks, all levels of management should harmonize their CSR philosophy.
Identifying the critical success factors of organization with Analytic Hierarchy Process approach (case study - Iran Argham Company)
Mohammad Mahdavi Mazdeh, Associate Professor, Department: Industrial Engineering, Iran University of Science & Technology, Iran
Abstract. In today's challenging and complex world, organizations success depends on productivity, continuous improvement in all dimensions and reforming the pattern of resource utilization. Therefore, organizations, while considering restrictions, should focus on the more effective factors or so-called critical success factors. This paper intends to identify and prioritize the critical success factors, among other, factors influencing success of the organization, using hierarchical analysis and application of tools and related software. Analytic Hierarchy Process provides the possibility to compare the factors via creating matrix of paired comparisons. The case study in this research includes identifying the critical success factors and prioritizing them in Iran Argham Company. Finally, among the results presented, five critical success factors are identified from the forty influential factors. These five factors account for about seventy percent of the organization's success. It should be noted that most studies conducted in this area focuse on the certain processes and special systems rather than study on the organization as a whole unit. This model can also be generalized to all organizations, including SMEs, and would provide remarkably valuable approaches, especially in competitive markets.
Measuring impact of word-of-mouth on tourist's travel experience: a case of Bangladeshi tourists' travel experience at Cox's Bazar
Mohammed Masum Iqbal, Ph.D., Associate Professor, Department of Business Administration, Faculty of Business and Economics, Daffodil International University, Bangladesh
Abstract. Word-of-mouth (WOM) is a source of informal communication that is used to transmit information regarding satisfaction, value, risk, as well as behavioral intention. WOM is effective and personal communication. This study is conducted to examine the impact of word-of-mouth to some factors like perceived value, perceived risk, tourism satisfaction and behavioral intention of a destination. As this article is based on impact of word-of-mouth on these factors, descriptive research design has been used. By using statistical analysis like regression, anova and coefficients, this study investigated the impact of word-of-mouth on perceived value, perceived risk, tourism satisfaction and behavioral intention. The results showed that word-of-mouth have significant impact on perceived value and tourism satisfaction but less or no impact on perceived value and behavioral intention.
Fight against administrative corruption within governmental organizations from motto to practice (case study: Ministry of Economic Affairs and Finance)
Samieh Darsareh, University of Tehran Kish International Campus, Kish, Iran
Abstract. Administrative corruption in a simple definition is violation of a law for personal benefits by utilization of job position. It is a phenomenon within today's world, as one of the most important obstacles on the way of societies' progress. The impact of different factors in forming corruption has given it a complicated nature. Administrative corruption is a correlative issue and it is different according to value system of each society. This article is trying to present a solution in order to fight against administrative corruption through classification of staff with the help of explaining the relation of their perception, sensation and commitment towards corruption and corrupted situations. Present study in terms of purpose is developmental-practical, and in terms of execution and based upon research purposes is a survey. The study population is the staff of Ministry of Economic Affairs and Finance in 2015. In order to explain perception, sensation and the behavior of staff, the questionnaire of administrative corruption is designed in three dimensions: perceptive aspect (cognitive) which includes items for assessing the status of awareness and recognition of staff from instances and consequences of administrative corruption; sensation aspect which includes items for assessing the vision and tendencies of staff towards corruption, and behavioral aspect which is formed from items for assessing the behavior of staff in facing with corruptive situations. In order to identify the reasons of corruption two questionnaires of "National identity" and "Organizational culture" have been designed. The result of the research was that the perpetrators of corruption can be divided into three categories. First category is the staff that their perception is positive, it means that they have adequate cognition from manifestations and corruption consequences and their feeling about corruption is negative, it means that they consider it as an ominous phenomenon, but they are guilty of corruption. Second category is the staff that their perception is positive, they don't see corruption as an ominous phenomenon. Consequently, their feeling toward corruption is positive, and they perpetrate it. The third category is the staff whose perception is negative, their feeling is uncertain, and they perpetrate it. The behavior of these categories will be interpreted in form of related theories. The significant note is that despite the tendency average to practice administrative corruption among governmental staff is lower than assumed average and it indicates that there is a protection of corruption perpetration but the rank of our country is not favorable the International Organization report. This warning made the researchers to provide new solutions to help resolving this social issue by reviewing current solutions for prevention, and fighting against administrative corruption, regarding the richness of evaluating system in Iran.
The application of Bhatt's knowledge management strategy in the organization of schools with the use of self-organized teams of teachers
Mohammad Hassan Hassani, Research Institute of Education Studies, Iran
Abstract. Education, to make maximum use of its human and physical resources, needs to establish social space-generating capacity to meet its goals. The most important problem, according to experts' opinions, which has been damaged the effectiveness of schools, is the lack of a competitive environment schools. Therefore, it is required to draw up a framework to increase competition among schools. To establish such structure requires several factors which facilitate implementation. Therefore, using the theoretical framework and experiences of countries, facilitating factors in applying the self-organized teams were extracted. Attitudes of teachers and administrators in relation to these factors should be investigated to measure the preparedness of education to apply these factors. This article with considering KAP research, which is focused on preparedness (knowledge), attitudes and behavior, attempts to concentrate on the establishing teachers' level of preparedness and achieving self-organized teams. For this purpose, using a questionnaire, attitudes of elementary school principals in Tehran were evaluated. The results show preparedness and a positive attitude of principals and teachers about the desired factors.
Defining success of African immigrant-owned small businesses in Cape Town, South Africa
Risimati Maurice Khosa, Department of Management and Entrepreneurship, Tshwane University of Technology, Pretoria campus, South Africa
Abstract. Taking Cape Town, South Africa as a case, this paper sought to investigate the factors that define the success of small businesses owned by African immigrants. The paper reviewed literature on immigrant entrepreneurs, immigrant-owned ventures and social capital. A random sample of available immigrant small businesses owners was taken where semi-structured interviews were conducted, as well as the use of self-administered questionnaires. Secondary data (literature review) has unveiled that social networks are vital in the formation and growth stages of an immigrant-owned business as networks provide the necessary support. Ultimately, social networks supplement the survival chances of an immigrant-owned venture. Furthermore, primary data (empirical results) has revealed that most of the businesses are mainly run by males, while longevity and employment creation are defining factors of success to African immigrant-owned small businesses in Cape Town. Following the empirical findings and their analysis, recommendations have been formulated.
Entrepreneurial education in the school curriculum: in search of positioning in Zimbabwe
Gwendoline V. Nani, Department of Business Management, National University of Science and Technology, Zimbabwe
Abstract. This study was conducted to find out when Entrepreneurship can be introduced in the school curriculum. A case study design premised in the qualitative approach was employed, which used semi-structured focus group interviews as data collection instruments. The areas of study were purposively selected government primary and secondary schools in the Bulawayo Metropolitan Province in Zimbabwe. Data were analysed thematically and discussed according to research objectives. Findings revealed that Entrepreneurship per se is not taught in government primary and secondary schools. Based on these findings, the recommendations were that Entrepreneurship should be introduced in the school curriculum at primary level to allow learners to lay a solid foundation for creativity, nurturing and innovation of business ideas for use later in life.
ICT as a primary tool for SMU's SOR business
Solly Matshonisa Seeletse, Department of Statistics and Operations Research, Sefako Makgatho Health Sciences University, South Africa
Abstract. The Department of Statistics and Operations Reasresch at the Sefako Makgatho Health Sciences University in South Africa desires to increase its research output, as well as provide high quality teaching and learning. Most SOR lecturers want to embrace technology and innovations, and also be competitive both regionally and globally. This can be achieved more effectively if they are trained in computer applications. Thus they should be developed into critical citizens of the digital world. They should also be prepared to use information and communication technology (ICT) as a teaching and learning resource, as well as a research and community engagement backing. An innovation in academia should be backed by the lecturer. Thus, the main concern of this paper was to explore use of ICT as a business tool in SOR. Methodologies of the study were case study and thematic content analysis, and the data collection tool was a questionnaire. The study found that SOR was understaffed, and could not provide full statistics (stats) training mainly in the statistical packages. The lecturers were all trained in ICT and the packages. They were all willing to use ICT in SOR activities. The computer laboratories were adequate for the student numbers at the time, even though some computers were not working. These laboratories showed to be poorly adequate for the envisaged growth of SOR. SOR would also need more lecturers for the future growth. The study recommends growth of SOR in lecturers and ICT facilities, at the least.
Business characteristics of small and medium enterprises in rural areas: a case study on southern region of KwaZulu-Natal province of South Africa
Lawrence Mpele Lekhanya, Durban University of Technology, South Africa
Abstract. This paper reports on the Small and Medium enterprises (SMEs) business characteristics in rural places of Southern KwaZulu - Natal (KZN) province. It was intended to identify and discuss the various characteristics and the implications they have on the survival and growth of rural enterprises. The study was conducted in five areas (uMuziwabantu, ubuhlebezwe, Sisonke, Zingolweni and UMzimkhulu) Southern Region of KZN province. The sample consisted of 127 SMEs owners/managers operating in the selected areas using a quota sampling method, with respondents completing a five - point Likert scale questionnaire with the assistance of an interviewer. The findings indicated that most employees within the business are unskilled; the business operations are run by using modern facilities; most of business investment strategies are hindered by a lack of finance; and, the local market is very small in selling rural SMEs' products. SPSS (23.0) version was used for data analysis. The findings presented in the figures and tables. Statistical analysis revealed that business characteristics of SMEs in rural were tested and found to be significant (P=.000*).
Unplanned obsolescence: consumers attitudes and perceptions of lifestyle brands in Durban, South Africa
John Amolo, University of KwaZulu-Natal, South Africa
Abstract. Planned obsolescence has become a strategy adopted by large corporations, for products to be produced with surprisingly short useful life spans. These shorter than expected product life spans ensure that consumers make regular repeat purchases of their favourite items. The monopoly of obsolescence of products is no longer the producers' prerogative and this by itself leads to unplanned obsolescence basically led by the consumers' choice. This research study looks into consumer's attitudes and perceptions of their favourite lifestyle brands. This is on the basis that less is known on unplanned obsolescence, which arises from the consumers conduct. This work also investigates why consumers replace products, even though these products are most often still seen as fully functional. This social constructivism study has adopted a quantitative approach through the use of self-administered questionnaires. The 300 participants of the study on which this article is based were selected from the Durban of KwaZulu-Natal in South Africa, and were chosen through stratified random sampling. The study was further cross generational, in order to examine how consumers attitudes change as they become older. It was found that despite knowing the truth relating to the phenomenon consumers were willing to remain loyal.
Evaluating the effect of accruals quality, investments anomaly and quality of risk on risk premium (return) of stock of listed companies in Tehran Stock Exchange
Seyed Kazem Ebrahimi, Assistant Professor in Department of Accounting, Economics, Management and Administrative Sciences, Semnan University, Semnan, Iran
Abstract. Nowadays reaching to economic goals in any society requires public participation, which is only the result of people participation. Investment in stock market is one of people participation methods. So awareness from stock return and its affecting factors is one of anxieties of investors and owners of shares. In this research we evaluated the effective factors on stock return using Fama and French models. So we studied the effect of some factors including accruals quality, anomalies of investments, size factor, market's risk premium factor, and book equity to market equity factor, on stock's risk premium which is representative of stock returns, in 70 listed companies in Tehran stock exchange from 20 March 2003 to 20 March 2014.Results showed that accruals quality and quality of risk had meaningful effect on risk premium, which is representative of stock returns. Results also showed that investment anomaly has no meaningful effect on risk premium and consequently on stock returns.