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Eurasian Journal of Business and Management

Vol.4 No.4

December 2016

 Page Number

 Article Information


Recent Developments in Corporate Sustainability Reporting in China

Udo Braendle

DOI: 10.15604/ejbm.2016.04.04.001

Abstract Sustainability reports contain important information for the stakeholders. The aim of this paper is to present an overview of recent developments in the area of sustainability reporting in China. The paper presents useful insights into sustainability reporting in China and helps to better navigate the future trends in sustainability reporting practices. The sustainability reporting rules in China should not rely on a basis of broad standards but on legally enforced binding rules.

Keywords: China, Corporate Social Responsibility, Corporate Governance, Sustainability Reporting, Communication, Global Reporting Initiative


The Efficiency Analysis of Singapore Real Estate Investment Trusts

Hui Chen Chiang, Yih Ching Tsaih and Wen-Cheng Hsiao

DOI: 10.15604/ejbm.2016.04.04.002


Since the REIT industry is relatively new in Singapore, the objective of this research is to examine the operation efficiency among firms in the industry through the method of Data Envelopment Analysis (DEA). In addition, the method of Tobit regression is applied to investigate the impact factors on efficiency. The results are as follows. First, none of 14 firms analyzed performs relatively efficiently based on the average efficiency scores over the sample periods of 2007 to first quarter of 2015. Nevertheless, it is found that First REIT and Suntec REIT are the most efficient and least efficient REITs respectively. Second, ROA is positively correlated to efficiency scores while the negative relationship is found with the debt ratio. Third, regarding property-type, retail REITSs perform better than commercial ones on average. However, the most efficient group is “others” which consists of one hospitality/residential REITs, one healthcare REITs, and three industrial REITs. Fourth, geographical diversification may not affect REIT’s efficiency. Meanwhile, REITs holding more properties overseas perform better than their counterparts on average. Last, in regards to size, small-size REITs significantly perform better in efficiency than those in other categories. Especially, medium-size and large-size REITs do not have significant differences on average in efficiency.

Keywords: REIT, Singapore, DEA, Tobit Regression


Strengthening Company Image in Service Sector by Improving Relational Capital

Jamila Jaganjac 

DOI: 10.15604/ejbm.2016.04.04.003 


This paper aims to contribute to the theoretical model of managing intellectual capital with an emphasis on the relational capital. Relational capital is especially relevant in the service sector, where differentiation is mostly based on non-price competition. Development of relational capital which strengthens the image through satisfaction of internal and external users encourages innovation and allows each process to be enriched with new knowledge. To illustrate this concept, the paper presents an empirical study of the participants of international students’ conference, coming from nine faculties from Bosnia and Herzegovina, Serbia and Croatia. Paper intends to define the steps to follow in developing  a model of relational capital management at universities, taking in consideration the interaction between students’ needs, defined through five levels and relationships with higher education institutions. The aim of research is also to encourage innovative processes in Bosnia and Herzegovina and region, which are not always needed to be directly connected to curricular activities, but are derived from them. The results indicate the motives and motivation of both students and professors at fifth level of interaction. It  also presents possible ways to expand cooperation in the fifth stage of interaction between students and higher education institutions. As the image of the company and its employees and clients is interconnected, this research points to elements that can be improved in further interaction, in order to achieve effects on each side.

Keywords: Relational Capital, Improvement, Effects, Satisfaction, Image 


Procurement Insourcing vs. Procurement Outsourcing: Evidence from Serbia

Slobodan Acimovic, Veljko M. Mijuskovic and Lazar Colic

DOI: 10.15604/ejbm.2016.04.04.004


One of the most important strategic decisions of a company is to choose whether to insource or outsource a particular group of activities or a business function. The trend of outsourcing those activities which do not form a part of the company core competences is becoming more and more present in business practice. The aim of the analysis within this paper is to review the mentioned trend from the position of organizing the company procurement activities. The analysis shows that there is no unique trend concerning outsourcing all logistics activities, which do not form a part of the company core competences. Unlike the majority of other logistics activities, which as non-basic, tend to be outsourced, procurement dominantly stays insourced. Finally, based on the empirical evidence obtained from a survey carried out among 52 companies in Serbia, it is concluded that even if procurement is outsourced, this trend is more present among service than production companies.

Keywords: Procurement, Outsourcing, Insorucing, Logistics, Serbia


A Model for the Development of the Seaweed Agro Industry in the Southeast Maluku District of Indonesia

Simon Picaulima, Syahibul Hamid, Anna Ngamel and Roberto Teniwut

DOI: 10.15604/ejbm.2016.04.04.005


Here we aimed to create a model of seaweed agro-industry development in the Southeast Maluku district of Indonesia. Data collected from respondents (n = 250) included information related to agro-seaweed, seaweed farming, and seaweed product marketing. Data collection included primary and secondary data sources, while the methods of analysis used structure model equations. We tested eight factors that influence the development of agro-seaweed industries in the southeast Maluku regency, namely, raw materials, human resources, technology, markets, infrastructure, policy, institutional, and capital, and concluded that all proposed hypotheses are proved correct because the value critical ratio ≥ 1.96, only the facilities and infrastructure factors were identified as significantly affecting the development of an agro-seaweed facility in southeast Maluku. We also found that optimal development of an agro-business in southeast Maluku will depend on relevant local government support and require cooperation between the internal local government, academia, the private sector, and the public. Development of human resources through formal and informal education programs directed at local business and focused on seaweed-based products will help to build business continuity by avoiding collusion and nepotism. Increased cooperation will also be required between government, employers, and the fishery community to monitor the sustainability and environmental impacts of the seaweed agro-industry in this region.

Keywords: Model Development, Agro-Industry Seaweed, Development Strategy


Development of Kosovo Pension Saving Trust Fund

Ymer Havolli and Ruzhdi Morina

DOI: 10.15604/ejbm.2016.04.04.006


Pension system in Kosovo has experienced various developments in the last three decades. These changes have been driven by both, political and economic developments. The political developments were most important, especially that the previous system failed due to the lack of access to the fund in the post-war Kosovo. The newly established system in post-war Kosovo continues its operations with principles of modern pension fund, savings-based. KPST was established by Law in December 2001 as a not-for-profit institution. As such, the sole objective of KPST is to serve only the best interests of its contributors. KPST is funded in a similar way as are all defined contribution pension funds i.e. by charging fees on assets under management (pension assets). KPST is funded in a similar way as are all defined contribution pension funds i.e. by charging fees on assets under management (pension assets). Throughout this discussion paper, the implications of the crisis, management, asset management issues and most importantly, investment strategy are discussed and some potential solutions to these problems are proposed in order to increase the flexibility of the fund to improve performance in times of crisis.

Keywords: Pension, Pension Fund, Public Pension Funds, Investments, Public Debt


Performance Analysis of Major Airline Companies in UAE with Reference to Profitability, Liquidity, Efficiency, Employee Strength and Productivity

Indrani Hazarika and Bistra Boukareva

DOI: 10.15604/ejbm.2016.04.04.007


The demand for air transport has been consistently increasing in UAE and has made significant growth in the aviation sector in terms of expansion and modernization. Within Dubai’s services sector, transport ranks first accounting for 14.8% of Dubai’s GDP in 2014.As per the Economics Report commissioned by Emirates and Dubai Airports, aviation sector is expected to contribute $53.1 billion to Dubai’s economy, 37.5 per cent to its GDP and will support over 750,000 jobs by 2020. The present study makes a comparative analysis of the top airline companies in UAE – Emirate Airlines and Air Arabia in terms of profitability, liquidity, efficiency and also Etihad Airways on employee strength and productivity from 2010 to 2014.Dubai’s aviation sector is projected to support over 1,194,700 jobs by 2030 and the total economic impact on UAE is expected to increase to $88.1 billion. The financial performance indicators of Emirates Airlines and Air Arabia has been compared and further analyzed to see if there is any significant impact of the macroeconomic indicators on the financial performance of the airline companies. Companies can create wealth either by increasing profit per employee or by increasing the number of employees earning such profits, or both.

Keywords: Financial Performance, Aviation Sector, Employee Strength, Productivity, Liquidity, Efficiency


The Relationship between Organizational Commitment and Organizational Cynicism among Hotel Employees in Southeastern Anatolia Region of Turkey

Melih Aydin and Gürkan Akdag

DOI: 10.15604/ejbm.2016.04.04.008 


The aim of this study is to determine whether relationship occurs between organizational commitment and organizational cynicism attitudes among employees who were employed in five and four star hotels located in Southeastern Anatolia Region of Turkey and to affirm the extent of the relationship. According to the findings, there is a significant (negative) relationship between three sub-dimensions of organizational cynicism (behavioral cynicism, affective cynicism and cognitive cynicism) and organizational commitment. Multiple regression and correlation analysis were applied to analyze data and identify the relationship between organizational commitment and organizational cynicism. According to the findings of the research, it is revealed that, as the level of organizational cynicism arises, attitudes toward organizational commitment decrease. Those results are consistent with findings of the previous studies that employees with cynical attitudes exhibited lower commitment in the organization. The results of this research showed that hotel employees mostly experience cognitive cynicism among sub-dimensions of cynicism and they rarely experience affective cynicism. In conclusion, it is possible to assert that employees were with medium level of organizational cynicism and organizational commitment.

Keywords: Organizational Commitment, Organizational Cynicism, Southeastern Anatolia, Hotels 

Eurasian Publications
(Esra Barakli)
Aksemsettin Mah. Kocasinan Cad.
Erenoglu Is Merkezi
Fatih – Istanbul, TURKEY
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