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Vol.3 No.3
September 2015

 Page Number

 Article Information

1-11

Examining the Impact of Family Management on Patent Applications for German Industrial Firms

Wolfgang Burr, Johann Valentowitsch, and Christopher Sauerhoff

DOI: 10.15604/ejbm.2015.03.03.001

Abstract

Elaborating the innovation behavior of family-owned businesses, prior research primary focused on the impact of ownership structure on innovation. However, surprisingly little attention has been given to understand the role of family management in this context. Our study contributes to literature closing this research gap. Using the number of applied patents as proxy for R&D outcome, our findings show that family management affects R&D output negatively. The empirical results of the study are in line with expectations drawn from agency and stewardship perspectives supposing substantial differences in research and development strategies of family and non-family managers.

Keywords: Family Management, Family-Owned Business, Research & Development

12-19

Does Idiosyncratic Risk Matter? Evidence from the Japanese Stock Market

Bing Xiao

DOI: 10.15604/ejbm.2015.03.03.002

Abstract

It would seem that a relationship exists between the idiosyncratic risk and stock returns, and the idiosyncratic risk exhibits a positive and statistically significant trend. The goal of this paper is to use data from Japanese markets to investigate the two issues for the 2000-2014 period and provide further evidence that adds to the existing conflicting results. Our results suggest that existence of a positive relationship between the equally weighted measure of idiosyncratic risk and subsequent stock returns, but we don’t find a rise in idiosyncratic volatility over the period.

Keywords: Idiosyncratic Risk, Stock Markets Volatility, Stocks

20-25

Sustainable Human Resource Management in Religiously Diverse Regions: The Podlasie Case

Barbara Mazur

DOI: 10.15604/ejbm.2015.03.03.003

Abstract

The concept of sustainability seems fundamental for companies operating worldwide. Human resources are acknowledged to be among the most valuable assets for them. Even though literature shows that Sustainable Human Resource Management is an upcoming topic there is still limited research on the concept due to its initial state. Prior literature reveals a lack in the consideration of systematic links between sustainability and HRM. The purpose of the study is to present the sociological approach to Sustainable Human Resource Management. The paper contributes to the literature linking sustainability to the issues researched in HRM literature. In the introduction it discusses how the notion of sustainability has emerged and developed. Then the sociological approach to Sustainable Human Resource Management is briefly depicted. Next, Diversity Management is presented as the manifestation of the social approach to Sustainable Human Resource Management. To illustrate this approach, the empirical research is presented. It has been conducted among 32 companies operating in Podlasie region (northeastern part of Poland). The research tried to uncover the companies’ knowledge and consciousness of cultural (religious) diversity. It also aimed at finding out whether this diversity was seen as an advantage and taken opportunity of or rather neglected in the companies. The results show the reception of diversity among larger and smaller enterprises in the Podlasie region. In general, smaller companies tend to know the religion of the worker more often, and therefore are able to take advantage of it. The larger companies tend to treat faith as a personal matter.

Keywords: Sustainability, HRM, Social Approach to SHRM, Podlasie

26-36

Stimulating the Competitiveness of the Macedonian Economy through the Process of Stimulation the Internationalization of the Companies

Jovanka Damoska Sekuloska

DOI: 10.15604/ejbm.2015.03.03.004

Abstract

The research in this paper is to be focused on examining the internationalization of the Macedonian companies as a prerequisite in improvement of Macedonian competitiveness. Internationalization as a process of integration in international economic activities contributes to overcome the sizes of national markets. According to the World Economic Forum (WEF) the size of the market is one of the pillars of competitiveness and it is revealed as one of the limitation of the competitiveness of Macedonian economy. The contemporary theories of competitiveness recognize the necessity of quantitative and qualitative improvement of the process of internationalization of the companies. Quantitative improvement means involving not only trade but also outward FDI and the new quality signifies the necessity of restructuring the economic activities towards employing and creating innovation based processes, as (Porter, 1990)accents that a nation’s competitiveness depends on the capacity of its industry to innovate and upgrade. Using data of some target Central European and Baltic (CEB) economies, it will be examined interrelationships between the internationalization and competitiveness and policies that influence the improvement and stimulation of internationalization process.

Keywords: Competitiveness, Internationalization, Export, Outward FDI

37-42

Model Comprehensive Risk Assessment of the Insurance Company: Tradition and Innovation

Yulia Slepukhina

DOI: 10.15604/ejbm.2015.03.03.005

Abstract

The article analyzes the traditional methods of evaluating financial risk arising from the insurance business, such as method correction norm of discount, method reliable equivalents, sensitivity analysis of efficiency criteria, analysis of the probability distributions, decision trees, method based on the fuzzy sets theory, and other, identified their advantages and disadvantages. In the study author proposes developed by him a model of the complex (integrated) risk assessment arising in insurance companies. It is proved that the greatest effect of risk management can be achieved by using an integrated approach to their assessment and analysis, i.e. considering different groups of risks arising from the activities of the insurance company, not abstracted from each other, and together, taking into account their mutual influence and the dynamics change.

Keywords: Insurance Company, Financial Risks, Absolute Risk, Relative Risk, Underwriting Risk, Risk of Inefficient Reinsurance, Risk of Formation of Insurance Reserves, Liquidity Risk, Interest Rate Risk, Currency Risk

43-53

Influence of Critical Success Factors on Business Development in IT Consulting

Roman Vasiliev and Galina Levochkina

DOI: 10.15604/ejbm.2015.03.03.006

Abstract

This study is intended to explore identification and usage of critical success factors in the activity of IT consulting service providers. Critical success factors and their measures are identified at the industrial level. For the corporate level, the study provides recommendations on elaboration of critical success factors for their further usage. Particular attention is paid to the role of critical success factors in activities of IT consulting service providers involving strategic management, project management, partnership and client relations. This issue has become the subject of the study.

Keywords: Critical Success Factors, Steps to identify Critical Success Factors, IT-Consulting, Business Development

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