International Research Journal of Finance and Economics
 Issue 159
 January, 2017
The Prediction of Work-Family Conflict and Job Attachment Based on the Aspects of Success among Employees of the Red Crescent Society of North Khorasan Province
Mehdi Aliabadi, Behrang Esmaeili Shad and Mohammad Yamini

The purpose of this study was to predict work-family conflict and job attachment based on the aspects of success among employees of the Red Crescent Society of North Khorasan Province. The research methodology is descriptive and correlational. The statistical population is consisted of all the employees of the Red Crescent Society of North Khorasan which is 173 people. The sample size, based on Morgan table using a random-class sampling of 123 people - were selected. The data collection tool was the questionnaire of Ladahl and Kejner to measure the job attachment and aspects of success of Parker and Kazmayr to assess the work-family conflict questionnaire. The questionnaire has superficial and content validity. The Cronbach's alpha reliability coefficient respectively was 0.723, 0.758 and 0.815. The regression analysis and T-test was used to analyze the data. The findings show that work-family conflict and job attachment is predictable based on the aspects of success. Also there is a significant difference between work - family conflict and job attachment based on the gender.
Keywords: Work-family Conflict, Job Attachment, Aspects of success.
Foreign Direct Investment, Trade and Economic Growth in Ghana: an Empirical Analysis
Daniel Ofori and George Asumadu

The research was to examine the effects of FDI inflows and trade in the economic development of Ghana, using annual time series data for the period 1986 to 2013, through the application of (ADF) unit root, Johansen’s co-integration test and Granger causality test. The results affirmed the existence of autocorrelation and unit root with Granger causality showing, unidirectional complimentary causal links from FDI to GDP; which means that FDI inflows could lead to the economic growth of Ghana. However, the result of Granger causality test for Trade indicated that there was (independence) links between Trade and GDP for the Ghana scenario, and this could be attributed to the fact that Ghana imports more than it exports.
Keywords: Foreign Direct Investment, Trade, Granger causality, Ghana, Economic growth.
Audit Committee and Board Effectiveness Against Voluntary Disclosure in the Pre and Post Enactment of the Tunisian Central Bank Circular N°2011-06 of Good Governance Practices
Jihene FERCHICHI and Myriam SKANJI

The main objective of this study is to examine the board and audit committee effectiveness and their impact on voluntary disclosure in annual reports of banks listed on the Stock Exchange Securities of Tunisia especially after the promulgation of Circular of good governance practices n° 2011-06, of May 20, 2011 related to good governance practices.
Since the Arab Spring 2011, reinforcement of good governance practices remains a key concern of the Central Bank in 2011 which saw the completion of several actions including the creation of the Permanent Audit Committee and the Renewal of the board composition.
It seems interesting to us to study the effectiveness of this law in the improvement of the corporate disclosure. To achieve this, we conducted our statistical analysis on a sample of listed Tunisian banks of 80 observations (firm-years) during the period 2008-2015.
The empirical results of multiple regression showed an increase in the extent of voluntary disclosure along the period following the promulgation of the CBT circular compared to the period prior to this one. The enactment of this circular to banks has effectively fulfilled its role in improving financial transparency. In addition, our findings indicate that board and audit committee characteristics (board size, board independance, proportion of foreign directors in the board, separation of the CEO and Chairman positions, independence audit committee) play a vital and significant role in improving corporate disclosure. However, we find that the impacts of the proportion of family members on the board, its gender diversity , and its meeting frequency on corporate voluntary disclosure are not statistically significant. This insignifiacant result could be explained by the specificity of the Tunisian context where banks are not in the majority family and on the other hand they are characterized by boards which are in nature masculine and therefore it becomes difficult that a woman can convince administrators and influence their disclosure strategies.
We contribute to disclosure studies by being the first study to compare the board and audit committee effectiveness and their impact on voluntary disclosure (both quantity and quality) in annual reports in the pre and post enactment of CBT Circular n° 2011-06 of good governance practices in Tunisia.
Keywords: Governance, Board Characteristics, audit committee, Voluntary Disclosure, Central Bank Tunis.
Factors Affecting Profitability of Syrian Private Banks
Omar Sheikh Osman

This study examined the determinants of Syrian Private Banks profitability. The data used in this study was obtained from the financial statements of the sample of the study and economic reports from the Central Bureau of Statistic, the study period was from 2011 to 2015 by using correlation analysis and simple linear regression model. The measure of profitability (dependent variable) analyzed in this study is comprised of Return on Asset (ROA). Bank-specific factors, which were incorporated into the regression model were Capital Adequacy, Bank Size, Deposits, Investments, Investments Income, and Fees and Commissions Income. In addition, macroeconomic factors that used in the regression models were Inflation and Gross Domestic Product. According to statistical analysis, the results indicated that there are no effect of asset size, capital adequacy, deposits, investments and inflation on profitability at Syrian Private Banks; Investments Income (INI) has a significant negative effect on the profitability at Bank Audi Syria (BASY) and Byblos Bank Syria (BBS); Fees and Commissions Income (FCI) has a significant negative effect on the profitability at Bank Audi Syria (BASY); Gross Domestic Product (GDP) has a significant negative effect on profitability at Arab Bank-Syria (ARBS).
Keywords: Return on Asset (ROA), Capital Adequacy, Bank Size, Deposits, Investments, Investments Income, Fees and Commissions Income, Inflation and Gross Domestic Product.
How Education Does At All Levels Influence Total Factors Productivity Growth?
Rasha Qutb

The issue of improving productivity growth is well stressed in developing and less developing countries that confront a severe economic and social deterioration owing to the misuse of the available human and physical resources. Education, as a main component of human capital, plays a leading role beyond that of physical capital in prompting Total Factor Productivity growth through its potential spillover effects on the technical change and efficiency improvement. Hence, considering education quality embedded in human capital attributable to the rising educational attainment of the labor force is a priority. On this ground, the aim of the paper is to examine the long run impact of education quality on TFP growth in Egypt during the period (1980-2014). In a two-step approach, the Gauss-Newton algorithm method is used in estimating the nonlinear Cobb-Douglas production function to calculate TFP series. In the second step, the TFP determinants have been estimated by paying special attention to education indicators besides other control variables through applying the Autoregressive Distributed Lag Bounds test approach of co-integration. Results revealed that TFP growth appears to be significantly slightly enhanced by quality improvements in higher education only. Some reforms must be done on the basis of analysis and research.
Keywords: Human capital, Education quality, ARDL model, Total Factor Productivity Growth.
JEL Classification: J21, J24, O47
Perceived Risk and the Intention to Use Credit Cards
Vuong Duc Hoang Quan and Trinh Hoang Nam

Although credit cards are widely used in the world, researches on intention to use credit cards and related issues are limited. Most studies in this field considered customers’ adoption of credit cards in relationship with their subjective norms, perceived usefulness and perceived behavioral control as an application of Technology Acceptance Model and Theory of Planned Behavior. However, perceived risk has not been mentioned as a determinant of intention to use credit cards in these studies, while it plays important role on the acceptance of electronic services, such as electronic commerce, electronic payment or electronic banking services. Thereby, this study clarifies the impact of perceived risk as well as subjective norms, perceived usefulness and perceived behavioral control on customers’ decision to use credit cards. Regression model is used to meet this objective. Based on a sample of 290 customers paid via bank account in Ho Chi Minh City, this study shows that perceived risk, subjective norms, perceived usefulness and perceived behavioral control are important determinants on the intention to use credit cards among Vietnamese customers. This study also provides banks a better understanding of their customers as well as the effects of their policies on credit card application and use.
Keywords: Credit Card, Intention to Use, Perceived Risk, TAM, TPB.
The Level of Disclosing Intellectual Capital in the Gulf Cooperation Council Countries
Abdalmuttaleb M.A. Musleh Al-Sartawi

Intellectual Capital (IC) is considered as a management style in operating a firm’s assets. The level of disclosing intellectual capital in the Gulf Cooperation Council Countries differs from one company to the other due to its voluntary nature and the lack of appropriate regulations. Therefore, this study aims to measure the level of disclosing intellectual capital in the Gulf Cooperation Council Countries. Extensive literature review was carried out and a checklist of 78 items was developed to measure the level of disclosing intellectual capital for the companies that are listed in the Gulf Cooperation Council Bourses. The findings show that the overall level of intellectual capital disclosed in the Gulf Cooperation Council is 73% but it varies across the sampled firms according to countries and industry type. The study recommends that the GCC Bourses have to develop a formal guideline for intellectual capital disclosure in order to create harmony in disclosing information and equality between users of financial information and at the same time to enhance firms’ value.
Keywords: Intellectual Capital; Human Capital; Structural Capital; Relational Capital; Voluntary Disclosure.
Labour Demand, Employment Variance and Efficiency in the Tunisian Manufacturing Industries
Ilham Haouas, Almas Heshmati and Muhammad Shahbaz

This paper specifies a flexible model of labour demand in Tunisian manufacturing industries. The model is further extended to incorporate a risk function part which allows identifying the determinants of both level and variations in employment. The risk function is important when designing public policies. It allows for the identification of industries suitable for targeting policies. The paper looks at the efficiency of the manufacturing industry in their choice of level of employment necessary to produce a given level of output. The results show that labour demand responds mostly to wages, followed by capital stock changes, and level of output.
Keywords: Labour demand, Employment efficiency, Risk function, Employment variance, Manufacturing industries, Tunisia.
JEL classification: C23, C51, D24, E24
Investigating Asymmetric Effects of Research and Development Costs, Human and Physical Resources on Iran Per Capita Gross Domestic Product
Hossein Akbarifard, Reza Ashraf Ganjavi and Eisa Abbasi

There have been some studies about the effect of development and research costs, human and physical resources on Iran per capita gross domestic product using linear equation during some recent decades. This study is sought to investigate the short-term effect of each one of mentioned investments on per capita gross domestic product using light transmission error correction model and for this, annual data for the period (1974-2015) have been used. The results show that non-linear model has higher explanatory power than linear one in a way that about human resources in the low threshold, they have the most effect on gross domestic product but in high threshold this effect has become negative. About physical capital and investment on development research costs in low threshold to average one, they have the most effect on economic growth but in high threshold this effect has reduced.
Keywords: asymmetric effects, non-linear, development and research, human resources, physical capital, gross product, Iran.
PAS Practices- Empirical Evidences from J&K Bank of India
Ajaz Akbar Mir and Ishtiaq Hussain Qureshi

A performance appraisal is a systematic and periodic process that assesses an individual employee’s job performance and productivity in relation to certain pre-established criteria and organizational objectives. Other aspects of individual employees are considered as well, such as organizational citizenship behavior, accomplishments, potential for future improvement, strengths, and weaknesses. Performance management systems are employed “to manage and align" all of an organization's resources in order to achieve highest possible performance. “How performance is managed in an organization determines to a large extent the success or failure of the organization. Therefore, improving PA for everyone should be among the highest priorities of contemporary organizations. In this background the present paper aims to analyze the existing PAS practices in Jammu and Kashmir Bank Ltd (J&K Bank) which is one of the leading banks in the state of J&K.
Keywords: performance appraisal system, employee perceptions, 360 degree feedback.