Other Useful Journals
- IOSR Journal of Business and Management (IOSR-JBM)
- IOSR Journal of Computer Engineering (IOSR-JCE)
- IOSR Journal of Electrical and Electronics Engineering (IOSR-JEEE)
- IOSR Journal of Mechanical and Civil Engineering (IOSR-JMCE)
- IOSR Journal of Electronics and Communication Engineering (IOSR-JECE)
- IOSR Journal of VLSI and Signal Processing (IOSR-JVSP)
- IOSR Journal of Environmental Science, Toxicology and Food Technology (JESTFT)
- IOSR Journal of Humanities and Social Science (IOSR-JHSS)
- IOSR Journal of Applied Chemistry (IOSR-JAC)
- IOSR Journal of Applied Physics (IOSR-JAP)
- IOSR Journal of Mathematics (IOSR-JM)
- IOSR Journal of Pharmacy and Biological Sciences (IOSR-JPBS)
- IOSR Journal of Dental and Medical Sciences (IOSR-JDMS)
- IOSR Journal of Agriculture and veterinary Science (IOSR-JAVS)
- IOSR Journal of Nursing and Health Science (IOSR-JNHS)
- IOSR Journal of Research & Method in Education (IOSR-JRME)
IOSR Journal of Business and Management (IOSR-JBM)
Volume 8 - Issue 2
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Abstract: In the framework of the implementation of special autonomy for Papua Province, one factor that concerns many people is a matter of budgeting that is often lacking in accordance with the needs of each regency / municipality in the province of Papua. This happens due to the lack of participation of various parties associated with the preparation of the budget in the area when preparing the budget. Another factor that may be the cause is the reluctance of the executive budget to follow the budget that has been set by the finance department. Another possibility is that the budget has been set too difficult to implement due to the preparation of the budget target is too high or too small to reach the target
Keywords: Budgeting Participation, Justice, Commitment, Performance
 Brownell, P. (1981). Participation in Budgeting: Locus of Control and Organizational Effectiveness, The Accounting Review 56
 Cohen, RL. (1987). Distributive Justice: Theory and Research, Social Justice Research 1:19-40.
 Chong dan Chong, 2000. Budget Goal Commitment and Infromational Effect of Budget Participation on Performance: A Structural
Equation Modelling Approach, Behavioral Research in Accounting, vol. 114.
 Earley, PC, and EA Lind, (1987). Procedural justice and Particiption in task selection: The role of control in mediating just ice
judgement. Journal of Personality and Social Psychology, 56 (6):1148-1160.
 Gilliland, SW, (1993). The perceived fairness of selection systems: An organizational justice perspective, Academy of Management
Review vol. 18 no 4, hal.694-734.
 Greenberg, J, 1990. Organizational Justice: Yesterday, today, and tomorrow, Journal of Management, 16 (2): 399-432.
 Greenberg, P., RH Greenberg, and H. Noun, 1994. Participative Budgeting: A meta-analytic examination of methodoloical
moderators, Journal of Accounting Literature 13:117-141.
 Hansen, D.R. dan M.M. Mowen, 1997. Management Accounting, Cincinnati, Ohio: South Western College Publishing, Fourth
 Kenis, I., 1979. Effects of budgetary goal charracteristic on Managerial attitudes and performance, The Accounting Review 54 (4):
 Kren, L., 1992. Budgetary Participation and Managerial Performance: The Impact of Information and Environmental Volatility, The
Accounting Review, July, hal. 511-526.
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Abstract: This study aimed to test empirically: 1). Effect of external business environment adaptability to company performance. 2). Effect of external business environment adaptability to company performance through competitive strategy mediation. 3). Effect of implementation of Total Quality Management to company performance through competitive strategy mediation. 4). Effect of implementation of Total Quality Management toward company performance. This study uses a contingency approach that integrates external and internal aspects, as well as the important role in determining company's competitive strategy to improve company performance. The population was 154 units of ISO 9000 certified manufacture companies in East Java. The analysis unit is entire study population (census research) and the respondent is the operations manager. Research data is analyzed by Generalized Structured Component (GSCA). The findings of empirical study showed: (1). Ability to adapt to external business environment indirectly affect company performance improvement. (2). Adaptability of external business environment affect company performance improvement through competitive strategy mediation. (3). Implementation of Total Quality Management affect company performance improvement through competitive strategy mediation. (4). Implementation of Total Quality Management has indirect effect toward company performance improvement. The research novelty is that competitive strategy is a Completed Mediation between the variable of external business environment adaptation toward company performance and the implementation of Total Quality Management to company performance variables.
Keywords: External Business Environment, Total Quality Management Implementation, Competitive Strategy, Company performance.
 World Economic Forum 2011-2012.
 Biro Pusat Statistik , 2011 Jawa Timur.
 Hitt,Michael A. R, Duane Ireland and Robert E.Hoskisson.2001. Manajemen Strategis, Daya saing dan Globalisasi, Buku 1, Jakarta.
Penerbit Salemba Empat .
 Pearce John. A & Robinson, Richard B Jr, 2004. Strategic management Formulation, Implementation and Control. Fifty Edition.
Illinois. Burr Ridge.
 Adnan Hakim, 2007. Karakteristik kewiurausahaan, lingkungan bisnis dan kapabilitas organisasi :Pengaruhnya terhadap strategi
bisnis dan kinerja Usaha.Disertasi UB Malang.
 Beal, Reginald, M. 2000. Competing Effectively: Environmental Scanning. Competitive Strategy. And Organizational Performance Hi Small Manufacturing Firms. Journal of Small Business Management. Vol. 22. Pp. 27-45.
 Gunarianto, 2005. Pengaruh Strategi Keunggulan Bersaing, TQM, Cost Quality, Sistem Akuntansi terhadap Kinerja Perusahaan
Manufaktur. Disertasi Program Pascasarjana UNPAD Bandung.
 Yurniwati. (2003). Pengaruh Lingkungan Bisnis Eksternal dan Perencanaan Strategik Terhadap Kinerja Perusahaan Manufaktur.
Disertasi. Pascasarjana UNPAD. Bandung.
 Krawjesky,L.J.,& Ritzman,L.P., 2002. Operation Management : Strategy and Analysis. Sixth Edition, Prentice Hall International, Inc.
 Dessler, Garry. 2003. Human Resource Management. New Jersey: Prentice Hall Inc.
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Abstract: The objectives of the study were: (1) Describing the meaning of company values in management control systems (MCS) practice at Alauddin Toyota workshop unit, and (2) Reconstructing the conventional management control concept. This research was conducted with interpretive paradigm and phenomenological method. The study location was management control systems practice at Alauddin Toyota Workshop. The results showed the stages characterized by two company values, namely: Kalla Way and Toyota Way. Eidetic overview produces the following meanings: (1) There was a value convergence in shaping the sound management control practices, (2) There are limited holistic management control elements in Alauddin Toyota Workshop. Management control systems concept construction generate Holistic management control system based on local wisdom of 'Siri' na Passe ". This concept then called management control systems of "Pangngadereng". The principle was "work hard together, successful together, prosperous together and save together afterlife." This concept has following control elements typology: (1) sara‟ (spiritual control), (2) ade‟ (self control), (3) bicara and wari‟ (organizational control), and (4) rapang (control culture).
Keywords - MCS, phenomenology, Kalla Way, Toyota Way, Pangngadereng, Siri‟ na Passe
1] Otley, D.T., Management control in contemporary organizations: towards a wider framework, Management, Accounting Research 5,
 Baxter, Jane., Chua W.F., 2003. Alternative Management Accounting Research-Whence and Whither, Accounting organizatinal
sociaty, 28, pp.97-126.
 Katz, D. and Kahn, R.L., The Social Psychology of Organizations (New York: John Wiley, 1996)
 Miller, E.J. and Rice, A.K., Systems of Organization (London: Tavistock Publications, 1973)
 Burrell, Gibson. Morgan Gareth, Sociological Paradigms and Organisational Analysis: Elemen of the Sociology of Corporate Life,
(Ashgate Publishing Company: USA, 1979)
 Machintosh, N.B., Scapens W.R., Management and Control systems: A Stnictnration Theory-Analysis, Journal Management
Accounting Research, Vol-3, 1991.p.131-158.
 Chenhall, R. H., Management Control Systems design within its organizational context: findings from contigency-based research and
directions for the future, Accounting organizatinal sociaty, 28, 2003, pp.127-168.
 Malmi, Teemu., Brown D.A., Management control systems as a package Opportunities, challenges and research directions,
Management Accounting Research., Vol.19. 2008, pp.287-300.
 Simons, R., Levers of control: how managers use innovative control systems to drive strategic renewal (IBoston, MA: Harvard
Business School Press, 1995)
 Ahrens, Thomas. & Mollona M., Organisational control as cultural practice - A shop floor ethnography of a Sheffield steel mill,
Management Accounting Research, Vol. 12, 2007, pp.321-342.
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Abstract: This study was based on condition of CSR activities reality that identical to generic CSR programs. Company carrying out CSR implementation because of high external pressures, not an company internal awareness to contribute to improve social environment and have no connection with main activities and corporate strategy. Consequently, this does not benefit to company performance and competitive advantage. Focus of this research is to develop a study to examine leadership behavior in formulating corporate strategy that oriented to corporate social responsibility (CSR). Efforts to improve corporate performance be done through implementation of integrated CSR strategy at industrial area of Makassar (PT KIMA). The analysis unit is company. Respondents that become samples are 81 people with leadership and chief general manager level, company-level functional manager. Analysis methods to test hypothesis is Structural Equation Model (SEM) with variance-based program of Partial least Square (PLS). The results of this study show that: antecedent variables, consisting of a transformational leadership style and ethical integrity significantly influence company strategy formulation with CSR orientation. Organizational learning culture did not significantly influence company strategy formulation with CSR orientation. Company strategy formulation with CSR orientation significantly influence implementation of CSR. Finally, CSR implementation significantly affect company performance.
Keywords: Transformational Leadership, Integrity ethics, Organizational Learning Culture, Strategy Formulation, CSR implementation and Corporate Performance.
 Carroll, Archie B.1979. A Three Dimentional Conceptual Model of Corporate Performance, The Academy of Management
 Elkington, J. (1997). Cannibals with Forks: Triple Bottom Line of 21st Century Business. Capstone Publishing, Oxford.
 Saidi, Zaim dan Hamid Abidin, (2004), Menjadi Bangsa Pemurah: Wacana dan Praktek Kedermawanan Sosial di Indonesia, Jakarta : Piramida
 Porter dan Kramer (2006), The link between competitive Advantage and Corporate social Responsibility, Harvard Business school
publishing corporation, all rights reserved
 Clarkson, M. B. E.: 1995, A Shareholder Framework for Analyzing and Evaluating Corporate Social Performance', Academy of
Management Review 20(1), 571–610.
 Jeurissen, Ronald, (2004), Institutional Conditions of Corporate Citizenship., Journal of Business Ethics ., Volume 53., Numbers 1-
 Lawrence & Weber,. (2002). Business and society : corporate strategy, Public policy, Ethics (tenth edition). New York : McGraw-
 Waldman, David A., Siegel, Donald S. and Javidan, M. (2006). Components of CEO Transformational Leadership and Corporate
Social Responsibility. Journal of Management Studies, Dec. 2006,43,8,1703-1725.
 Verissimo and Laeerda, (2011),The new age of corporatesocial and ethical consciousness: Toward a new leadership mindset,
Proceedings of the 12th Annual International Leadership Association (www.ila-net.org) Conferens. Leadership 2.0: Time for Action,
27 Oct – 30 Oct., Boston, USA.
 Lorenzo, et. al.(2008)., Social responsibility in Spain Practices and motivations in firms, Management Decision Vol. 46 No. 8,
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|Paper Type||:||Research Paper|
|Title||:||An Empirical Study on Effect of Transformational Leadership On Organizational Commitment In The Banking Sector Of Pakistan|
|Authors||:||Bano Fakhra Batool|
|Downloads : Times|
Abstract: Transformational leadership is very popular research topic so many researcheshave been done on its every perspective. The objectiveof this paper is to investigate the impact of transformational leadership style a leader exhibits on his subordinate that effects the organizational commitment of his employees in the banking industry of Pakistan. This research was carried out by measuring the data gathered from the five point Likertscale.The Multifactor Leadership Questionnaire (MLQ) is used to measure transformational leadership and employee's commitment was measured through affective commitment questionnaire of Allen and Meyer (1996). Quantitative survey method was applied and a sample of 100 employees from the banking industry of Pakistan. Random sampling technique is used to answer the instrument of the study. SPSS software was used to analyze the data collected based on descriptive statistics (mean, standard deviation, percentage, T-test, and Pearson Correlation Coeffiecient). The findings indicate that the leaders of bankingindustry of Pakistan follow transformational leadership style. The result indicates that the relationship between transformational leadership style and organizational commitment is positive and significant.
Key Words:, attitude, organizational Commitment, Transformational leadership, Pakistan, workplace,
1] Avolio, B. J., & Bass, B. M. (2004).Multifactor leadership questionnaire: manual and sampler set. Mind Garden,Inc.
 Avolio, B. J., &Yammarino, F. J. (2002).Transformational and charismatic leadership: The road ahead. NewYork: Erlbaum.
 Bass, B. M. (1985). Leadership and performance beyond expectations. Free Press.
 Bass, B. M., Avolio, B. J., Jung, D. I., &Berson, Y. (2003). Predicting unit performance by assessingtransformational and
transactional leadership. Journal of applied psychology, 88(2), 207.
 Al-Sharifi, A. M., & Al-Tanah, M. M. (2010). The degree of practicing transformational leadership by privatesecondary school
principals in the UAE. Journal of Human Sciences, 45(7), 1-28.
 Allen NJ, Meyer JP (1996) Affective, continuance and normative commitment to the organization: An examination of construct
validity. Journal of Vocational Behavior. 49: 252-276.
 Avolio B. J, Zhu. W, Koh. W and Bhatia. P (2004) Transformational Leadership and Organizational Commitment: Mediating Role
of Psychological Empowerment and Moderating Role of Structural Distance, Journal of Organizational Behavior, 25, 951–968.
 www.sagepub.com/northouseintro2e ,www.FlexibleTrainingPartners.com
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|Paper Type||:||Research Paper|
|Title||:||Transforming Microfinance Institutions: What about the poorest in Africa?|
|Authors||:||Nihel Halouani, Prof Younes Boujelbene|
|Downloads : Times|
Abstract: In this paper we try to identify if the transformation of MFIs is associated with the "mission drift"? Specifically, considering that commercialization is characterized by sustainability, competition, and regulation, we evaluate its effect on the average size of loans provided and on the percentage of women borrowers. The empirical study is based on the OLS method from 96 MFIs operating in 22 African countries in 2005-2008, to study the impact of commercialization of MFIs on the average loan size and the percentage of women borrowers by groups of clients served. The results indicate that competition favor targeting the poorest and increase significantly access to cheaper and better microfinance services particularly for women. Whereas, viability is in favor of the mission drift of the MFIs no matter what the category of served clientele is. Finally, regulated MFIs lend increasingly fewer loans to women borrowers and hence deviate from their mission of serving the poor clients.
Keywords: Microfinance, Commercialization, Competition, Outreach, women.
1] Arun. T. Hulme. D. Matin. I and Rutherford. S (2005)., "Finance for the Poor: the way forward? ". Chapter in Finance and
Development – Surveys of Theory. Evidence and Policy edited by Christopher J. Green. Colin H. Kirkpatrick and Victor Murinde.
 Bikker. J. and K. Haaf (2002). "Measures of Competition in the Banking Industry: A Review of the Literature". Economic and
Financial Modelling 9: 53-98
 Christen. R. P..Rhyne.E.. Vogel. R. C.. and McKean. C. (1995).. "Maximizing the outreach of microenterprise finance: An
analysis of successful microfinance programs". (USAID Program and Operations Assessment Report No. 10). Washington. DC.
 Christen. R.P. (2001)., "Commercialization and mission drift. The transformation of microfinance in Latin America".(CGAP
Occasional Paper No. 5). Washington. DC.
 Cull, R., Demirguc-Kunt, A. and Morduch, J., (2007), "Financial performance and outreach: A global analysis of lending
microbanks", Economic Journal, 117, 2007, F107-F133.
 Cull, R., Demirgüç-Kunt, A. and Morduch, J., (2009), "Microfinance Tradeoffs: Regulation, Competition, and Financing", The
World Bank Development Research Group Finance and Private Sector Team October 2009. No 8.Consultative Group to Assist the
Poor (CGAP), The World Bank, Washington D.C.
 Fernàndez deGuevara. J., J. Maudos and F. Pèrez (2007)., "Integration and Competition in the European Financial Markets".
Journal of International Money and Finance 26: 26-45.
 Florent Bédécarrats and Reynaldo Marconi, (2009), "L'influence De La Régulation Sur La Contribution De La Microfinance Au
Développement : Le Cas De La Bolivie," Revue Tiers-Monde, Armand Colin, vol. 0(1), pages 71-90.
 Hartarska, V. (2005), "Governance and Performance of Microfinance Institutions in Central and Eastern Europe and the Newly
Independent States". World Development, 33(10), pp. 1627–1643.
 Hermes. N., Robert L..and Aljar M. (2009). "Outreach and efficiency of microfinance institutions". Centre for International
Banking. Insurance and Finance WorkingPaper.
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Abstract: Employee involvement and internal branding is a very important concept in organizations nowadays especially when organizations desire more profitability as well as stability to sustain in a competitive environment. Motivating employees to give in input in decision making does increase the performance and effectiveness of the organization thus adding to the creativity and innovative level of the employees. On top of that employees who are more involved in decisions and are motivated they have relatively more stability as far as their emotions are concerned like anger frustration etc. On the basis of various studies conducted the relationship between employee involvement, internal branding and emotional intelligence of employees was examined. The sample was taken from two hospitals from the twin cities Rawalpindi and Islamabad and research primary focused on the nurses of the two hospitals the first one was Al-Shifa Eye Hospital Rawalpindi and the second one was Shifa International Medical Hospital Islamabad both are the private sectors of Pakistan. Data that was gathered for these respective variables that is employee involvement; internal branding and emotional intelligence were analyzed and played an important role in the gathering of data respectively.
 Luker K.A., Austin L., Caress A. & Hallett C.E. (2000) the importance of 'knowing the patient': community nurses' constructions of
quality in providing palliative care. Journal of Advanced Nursing 31(4), 775–782.
 Mayer J.D. & Salovey P. (1993) The intelligence of emotional intelligence.Intelligence 17, 433–442.McMullen B. (2003) Emotional
intelligence. British Medical Journal 326(7381), S19.
 Brown S.P. (1996). A meta analysis and review of organizational research on job involvement. Psychological Bulletin, 120(2), 235–
255. doi:10.1037/0033-2909.120.2.235, http://dx.doi.org/10.1037/0033-2909.120.2.235.
 Blau G.J. (1985). A multiple study investigation of the dimensionality of job involvement. Journal of Vocational Behaviour, 27, 19–
36. doi:10.1016/0001-8791(85)90050-8, http://dx.doi.org/10.1016/0001-8791(85)90050-8.
 Yang, Hui-Ling, Kao, Yu-Hsiu, and Huang, Yi-Ching (2006). The Job Self-Efficacy and Job Involvement of Clinical Nursing
Teachers. Journal of Nursing Research, Vol. 14, No. 3, 237-
 Wimalasiri, Jayantha S., and Kouzmin, Alexander. (2000). A comparative study of employee involvement initiatives in Hong Kong
and the USA. International Journal of Manpower, Vol. 21 No. 8, 614-634.
 Becker, H. S. 1960. Notes on the concept of commitment. The American Journal of Sociology, 66(1): 32-40.
 Liou, K. T., & Nyhan, R. C. 1994. Dimensions of organizational commitment in the private sector: An empirical assessment. Private
Administration Quarterly, 18(1): 99-113.
 Scholl, R. W. 1981. Differentiating organizational commitment from expectancy as a motivating force. Academy of Management
Review, 6(4): 589-599
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Abstract: This study aims to analyze the relationship between internal marketing and job satisfaction with the mediating effect of employee engagement. The data was collected from the Banking sector of Pakistan. The questionnaires were used to collect the data. Convenience sampling was used in this study. The sample size of the study was 400 but we had received only 250. After applying regression and correlation we found that internal marketing have positive relationship with job satisfaction and employee engagement also have positive relationship as mediator.
Keywords: Internal Marketing, Employee Engagement, Job Satisfaction, Regression. .
 Armstrong, M. 2000. Performance management: Key strategies and practical guidelines. 2nd Edition. London: Kogan Page Ltd.
 Berry, L.L. (1981), "The Employee as Customer", Journal of Retail Banking, Vol. 3, March, pp.25-80.
 Che Ha, Abu Bakar & Jaafar (2007) "Internal Marketing Issues in Service Organizations in Malaysia", International Review of
Business Research Papers, Vol. 3 No. 5, Pp. 134-145.
 Czaplewski, A.J., Ferguson, J.M. & Milliman, J.F. 2001."Southwest Airlines: How internal marketing pilots success‟, Marketing
Management, 10(3): 14-18.
 Das, S (2003). "Vacant or engaged?" Employee Benefits,March:24 -28.
 Grönroos, C. (1985) "Internal Marketing Theory and Practice in Services Marketing In a Changing Environment". Bloch, T.M. et.al.
(EDS). American Marketing Association: Chicago, 42-47.
 Ibrahim et al (2010) "The Effect of Internal Marketing Implementation on Job Satisfaction of Sales People in Jordan Telecom
 Karthikeyan, K, Karthi, R. and Shyamala, D. Graf (2010). "Impact of Training in Indian Banking Sector – An Empirical
Investigation", International Journal of Business and Management, Vol. 5, No. 7; July 2010.
 Masroor A.M., Fakir M. J. (2009) "Level of Job Satisfaction and Intent to Leave among Malaysian Nurses", Business Intelligence
Journal, January, pp.123 – 137.
 Michèle Paulin, Ronald J. Ferguson and Jasmin Bergeron (2006). "Service climate and organizational commitment: The importance
of customer linkages". Journal of Business Research, vol. 59, pp. 906– 915
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Abstract: Recruitment process outsourcing is a powerful strategy used by many organizations globally which helps to save the cost, time and improves the quality of recruitment. Outsourcing HR, specially recruitment process is a strategy used by many organizations all across the world but the human side of HR has suffered from it along with the profitability because the external agencies are not well aware with the structure, culture, values and system of the organization and therefore fail to nurture commitment and loyalty among employees. Generally the impact of outsourcing is negative on the engagement and commitment of employees along with the loyalty. In the light of these issues, a study was planned to find out the impact of outsourcing recruitment process on employee commitment and loyalty. The sample was taken from the two private telecommunication companies: Huawei and Zhongxing Telecom Pakistan situated in Islamabad.Tools for data collection for the three variables that is outsourcing recruitment process, employee commitment and loyalty were taken from the body of knowledge and used for the collection of data. These two independent sets of data were analyzed by applying t-test. The empirical evidence indicated that outsourcing recruitment process has no impact on employee commitment and loyalty.
1] Davidsson, G. (2005), Outsourcing and HR, Human resource management international digest, Vol. 13, No. 3, p. 3-5.
 Delmotte, J. & Sels, L. (2008), HR outsourcing: Threat or Oppurtunity Personnel Review, Vol. 37, No. 5, p. 544-563.
 Elmuti, D. &Kathawala, Y. (2000), The effects of global outsourcing strategies on participants attitudes and organizational
effectiveness, International journal of manpower, Vol. 21, No. 2, p. 112-128.
 Lievens, F. & De Corte, W. (2008), Development and test of a model of external organisational commitment in human resource
outsourcing, Human Resource Management, Vol. 47, No. 3, p. 559-579.
 Münstermann, B., Eckhardt, A. &Weitzel, T., (2010), The performance impact of business process standardization, An empirical
evaluation of the recruitment process, Business Process Management Journal, Vol. 16, No. 1, p. 29-56.
 Ordanini, A., &Silvestri, G. (2008), Recruitment and selection services: Efficiency and competitive reasons in the outsourcing of HR
practices, The international journal of human resource management, Vol. 19, No. 2, p 372-391.
 Klaas, B. S., McClendon, J. A. &Gainey, T. W., (2001), Outsourcing HR: The impact of organisational characteristics, Human
Resource Management, Vol. 40, No. 2, p. 125- 138.
 Abdul-Halim, H., Che-Ha, N. &Geare, A. (2009), The influence of business strategy on the decision to outsource human resource
activities, Journal of Human Resource Costing & Accounting, Vol.13, No. 4, p.273 -293.
 Cook, K. S & Emerson, R. M. (1978), Power, Equity and Commitment in Exchange Networks, American Sociological Review, Vol.
43, No. 5, p. 721-739
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Abstract: The principal of this research paper is to find the effect of human capital on performance of the firm with the mediating effect of employee's satisfaction with his job. The research type for this paper is quantitative and for the collection of data questionnaires were used.The sample size used for the paper was 200 and the target area was the telecom sector of Pakistanwhich included three leading companies in the telecom sector of Pakistan (i.e: Mobilink, Telenor and Ufone).The Results showed that Human capital investments has a strong relation with firm performance and employee's satisfaction mediates the process between both variables.
Key words: Human capital, performance, satisfaction, telecom, Pakistan
 Hansson, B.; Johanson, U.; Leitner, K., H. The impact of human capital and human capital investments on company performance.
Evidence from literature and European survey results.
 Acemoglu, D.; Pischke, J-S. Why do firms train?Theory and evidence. Quarterly Journal ofEconomics. Cambridge: MIT Press
Journals,1998, Vol. 113, Issue 1, p. 79-119.
 Acemoglu, D.; Pischke, J-S. Certification of trainingand training outcomes. Cambridge: MIT –Massachusetts Institute of
Technology, 1999b,p. 99-28 (Working paper).
 Ana-Maria, G. The Impact of Human Resources Practices uponSmall Companies Performances. Hyperion University, Calea
Călăraşilor nr. 169, Bucureşti: Buletinul Universităţii Petrol – Gaze din PloieştiVol. LXNo. 2/2008, p 83 – 92.
 Seleim, A.; Ashour, A; and Bontis, N. Human capital and organizationalperformance: a study of Egyptiansoftware companies.
Faculty of Commerce, Alexandria University:Management DecisionVol. 45 No. 4, 2007, p. 789-801.
 Jamal, W.; Saif, I. M. Impact of Human Capital Management on Organizational Performance. Department of Management Sciences,
Foundation University Islamabad, Pakistan: European Journal of Economics, Finance and Administrative Sciences, ISSN 1450-2275
Issue 34 (2011)
 Wan Yousaf, W. F.;Jatan, M.; Ibrahim, N., D.The interactive effect of Human capital, Structural capital and social capital on firm
performance. Asian Academy of Management Journal, Vol. 9, No. 2, 1–18, July 2004
 Dicu, R.; Grosu, M. Optimizing Human capital between the motivation of employees and the performance required by the corporate
responsibility. AlexandruIoan Cuza " University, Iasi, Romania. Luxembourg: Office for Official Publications of the European
Communities, 2004. (Cedefop Reference series, 54)
 Ahangar, R., G. The relationship between intellectual capital and financial performance: An empirical investigation in an Iranian
company. Department of Management and Economics. Islamic Azad University: African Journal of Business Management Vol. 5(1),
pp. 88-95, 4 January, 2011.
 Clarke, M.; Seng, D.; Whiting, R., H. Intellectual Capital and Firm Performance in Australia. Department of Accountancy and
Business Law. University of Otago :Working paper series no 12 – 2010.
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|Paper Type||:||Research Paper|
|Title||:||Cash Conversion Cycle and Firms' Profitability – A Study of Listed Manufacturing Companies of Pakistan|
|Authors||:||Raheem Anser, Qaisar Ali Malik|
|Downloads : Times|
Abstract: Cash conversion cycle is one of the most widely used measures to evaluate and measure the risks and returns associated to liquidity management Since every corporate organization is extremely concerned about how to sustain and improve profitability, hence they have to keep an eye on the factors affecting the profitability. The present study is concerned about evaluating how cash conversion cycle affects the profitability of manufacturing sector organizations listed at Karachi stock exchange of Pakistan. The specific research objective of the study is to investigate the existing literature on the role of cash conversion cycle in enhancing return on assets and equity of the companies and to measure the impact of cash conversion cycle on profitability of the manufacturing companies. The results of the study will be helpful for academics and industry experts for policy making and control purposes. The study takes return on equity and return on assets as measures of profitability to represent dependent variables. Firm size and debt ratio are taken as control variables. Cash conversion cycle is considered as independent or explanatory variable. Study takes into consideration 5 years financial statements data starting from 2007 to 2011. Results showed that manufacturing companies are having low average return on asset and high average return on equity with reasonable average cash conversion cycle. Regression results after adjusting for heteroskedasticity of data to minimize the effects of outliers, showed that cash conversion cycle is having significantly inverse association with both return on assets and equity indicating that lesser the cash conversion cycle greater would be the profitability measured through return on assets and equity. Hence the receivable collection period and inventory selling period must be reduced along with the extension of payment period to increase the profitability of manufacturing sector organizations. The study suggested that manufacturing companies are required to well estimate and evaluate the cash flows of the business, to well identify the long run and short run cash inflows and outflows to timely sort out the cash shortages and excess to formulate financing and investing strategies respectively.
Keywords: Cash Conversion Cycle, Return on Assets, Return on Equity, Profitability, Size, Debt
1] Afza, T., & Nazir, M. (2009). Impact of aggressive working capital management policy on firms' profitability. The IUP Journal of
Applied Finance, 15(8), 20-30.
 Alipour, M. (2011). Working capital management and corporate profitability: Evidance from Iran. World applied sciences
 Appuhami, B.A Ranjith (2008). The Impact of Firms' Capital Expenditure on Working Capital Management: An Empirical Stud y
across Industries in Thailand. International Management Review Vol. 4 No. 1
 Danuletiu, A.E. (2010). Working capital management and profitability: A case of ALBA country companies. Annales Universitatis
Apulensis Series Oeconomica, 12(1).
 Deloof, M., (2003). Does working capital management affect profitability of Belgian firms. Journal of Business and Finance
Accounting., 30: 573-587.
 Demirgunes, K. and Samiloglu, F. (2008). The effect of working capital management on firm profitability: Evidence from Turkey.
International Journal of applied economics and finance, 2(1), 44-50.
 Dong, H.P., Su, J., (2010). The Relationship between Working Capital Management and Profitability: A Vietnam Case.
International Research Journal of Finance and Economics ISSN 1450-2887.
 Ebaid, I. E. (2011). Accruals and the prediction of future cash flows Empirical evidence from an emerging market, Management
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Commerce & Management, Vol 14 No 2 pp. 48 – 61
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business cycles: Evidence from Finland. Retrieved from http://ssrn.com/abstract=1794802.
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|Paper Type||:||Research Paper|
|Title||:||Gender Discrimination: A myth or truth Women status in Pakistan|
|Authors||:||Farah Yasmin Bukhari, Prof Dr. Muhammad Ramzan|
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Abstract: Naturally human beings are divided into two genders and both are given responsibilities and rights which suit them, discrimination is the practice of granting or denying rights or offer privileges based on the gender. The aim of this study is to enrich the understanding of existence of gender discrimination in Pakistan in reality in Islamic perspective. It further explores is there any relationship between practiced gender roles in Pakistan and gender roles described in religion Islam and what are reasons of discrimination. Methodology for paper was thematic and secondary data was analyzed thematically. Qualitative data was collected based on previous literature and current reports to explore the discrimination in Pakistani culture is real or is a myth. Neutral studies about this topic were found limited. Studies are done by religious scholars in one extreme and moderate scholars on another extreme. Data was analysed using thematic analysis. The data analysis process was done using the principles recommended by Spiggle 1999) and others (Strauss and Corbin 1990; Arnould and Wallendorf, 1994) for the analysis and interpretation of qualitative data.
Key words: gender discrimination, women role, feminism in under developed countries, Islamic perspective of gender, cultural influence on gender
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 Encyclopedia of religion, second edition, Lindsay Jones, p.6224, ISBN 0-02-865742-X
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Abstract: Culture is an important part of every individual's life. It determines an individual's life style. In every field of life there is a culture which creates or maintains the working of that field. If we talk about the cultural differences in working environment of Pakistan and America we can easily see a big difference and when it comes to the working women the gap or the difference goes even bigger. Women have been seen as different from men, universally lacking the necessary personal characteristics and skills to make good managers. The attitude and belief of employees in American and Pakistan depends on educational and economic development. The methodology adopted for study would be quantitative analysis with sample size of n=200 employees. The hypothesis generated had been evaluated through SPSS which shows that culture influence positively on American and Pakistani females. The level of motivation between Pakistani and American female also shows no significant difference.
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 Attitudes toward Women Managers in Turkey and Pakistan By Dr. Semra Güney, Raheel Gohar, Sevcan Kılıç Akınc, Mehmet Mutlu Akınc
 Attitudes toward Women Managers in Turkey and Pakistan By Dr. Semra Güney, Raheel Gohar, Sevcan Kılıç Akın, Mehmet Mutlu
Akın Journal of International Women's Studies Vol. 8 #1 November 2006
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 Majid Aramand, (2013) "Women entrepreneurship in Mongolia: the role of culture on entrepreneurial motivation", Equality,
Diversity and Inclusion: An International Journal, Vol. 32 Iss: 1, pp.68 – 82
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|Paper Type||:||Research Paper|
|Title||:||Factors that Influence the Choice of Business Major Evidence from Jordan|
|Authors||:||Dr Ahmad Nahar Al-Rfou|
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Abstract: The purpose of this study is to examine the impact of personal factors and future job factors on choice of business as a major field of study. The study also aims to investigate the relationship between students' gender, general secondary average and the branch in general secondary, and the choice of business as a major, from the perspective of business students at Tafila Technical University (TTU) in academic year 2011/2012. The study reached that the parents have a significant influence on the major selection, siblings and friends also consider important source to select the major, while the teachers and media are least amongst the selected factors. The respondents give more importance for future job factors; they agreed that the future earning, career option, occupational prestige and type of work are the most important factors that affect the selection of the business major. The results also, mentioned that there is a significant relationship between independent variables (i.e. gender, general secondary average and the branch in general secondary) and dependent variable (i.e. choice business as a major field of study).
Keywords: Academic Choice, Choice of Majors, Business Students, Tafila Technical University (TTU).
 Beggs, J. M., Bantham, J. H., & Taylor, S. (2008).Distinguishing the factors influencing college students' choice of major. College
 Collins, M. and P. Giordani. (2004).The class of 2003: Opinions and expectations results of the 2003 graduating student and alumni
survey. NACEWeb, http://naceweb.org
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universities. Journal of Education for Business, 78, 28-32.
 Leppel, K., Williams, M. L., and Waldauer, C. (2001). The impact of parental occupation and socioeconomic status on choice of
college major. Journal of Family and Economic issues, 22, 373-394.
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Accounting Education: An International Journal, 6, 39-45.
 Malgwi, C., Howe, M., & Burnaby, P. (2005). Influences on students' choice of college major. Journal of Education for Business, 80,
 Pearson, C., & Dellman-Jenkins, M. (1997). Parental influence on a student's selectionof a college major. College Student Journal,
 Taylor Research and Consulting Group, Inc. (2000). AICPA Student and Academic Research Study–Final Quantitative Report.
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|Paper Type||:||Research Paper|
|Title||:||Determinants of Individual Investors' Behaviors: Evidence from Tunisian Stock Market|
|Authors||:||Yosra Mefteh Rekik, Younes Boujelbene|
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Abstract: Recent studies on individual investors' have shown that they do not act in a rational manner. However, several behavioral factors influence their investment decisions in Stock Markets. The present study considers the theory of individual investors' irrationality and investigates into their behavior with regard to investment decisions. In this sphere, we attempt to find out whether some psychological as well as demographic factors affect Tunisian individual investors' behavior and then try to examine the factors that are more influencing than others. To achieve our aims, we used a survey approach and developed a questionnaire that included sixty three items dealing with six biases. Then, we conducted a descriptive and factorial analysis on the biases of the collected data. Therefore, results have indicated that the Tunisian investors' behaviors are subject to five behavioral biases: representativeness, herding attitude, loss aversion, mental accounting, and anchoring. Apart from these biases, when attempting to categorize Tunisian investors on the basis of demographic variables, we have also found that gender, age and experience have an interaction with behavioral financial factors in investment decisions.
Key Words: Behavioral finance, behavioral biases, demographic factors, factorial analysis.
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